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Revenue Recognition - (Tables)

9 Months Ended

Oct. 01, 2022

Revenue from Contract with Customer [Abstract]

Disaggregation of Revenue

The following table shows the consolidated revenues by revenue source:

			Three Months Ended												Nine Months Ended
(Amounts in millions)			October 1, 2022						October 2, 2021						October 1, 2022						October 2, 2021
Revenue from contracts with customers			$	1,096.3					$	1,031.6					$	3,318.7					$	3,125.7
Other revenues			6.2						6.1						18.2						18.0
Total net sales			1,102.5						1,037.7						3,336.9						3,143.7
Financial services revenue			87.3						87.3						261.4						262.8
Total revenues			$	1,189.8					$	1,125.0					$	3,598.3					$	3,406.5

The following tables represent external net sales disaggregated by geography, based on the customers’ billing addresses:

						For the Three Months Ended October 1, 2022
						Commercial						Snap-on						Repair Systems
						& Industrial						Tools						& Information						Financial												Snap-on
(Amounts in millions)						Group						Group						Group						Services						Eliminations						Incorporated
Net sales:
North America*						$	128.2					$	440.6					$	268.8					$	—					$	—					$	837.6
Europe						62.0						29.8						51.9						—						—						143.7
All other						72.6						26.2						22.4						—						—						121.2
External net sales						262.8						496.6						343.1						—						—						1,102.5
Intersegment net sales						94.0						—						70.9						—						(164.9)						—
Total net sales						356.8						496.6						414.0						—						(164.9)						1,102.5
Financial services revenue						—						—						—						87.3						—						87.3
Total revenue						$	356.8					$	496.6					$	414.0					$	87.3					$	(164.9)					$	1,189.8

						For the Nine Months Ended October 1, 2022
						Commercial						Snap-on						Repair Systems
						& Industrial						Tools						& Information						Financial												Snap-on
(Amounts in millions)						Group						Group						Group						Services						Eliminations						Incorporated
Net sales:
North America*						$	370.6					$	1,348.7					$	766.3					$	—					$	—					$	2,485.6
Europe						216.9						106.3						174.2						—						—						497.4
All other						212.6						74.3						67.0						—						—						353.9
External net sales						800.1						1,529.3						1,007.5						—						—						3,336.9
Intersegment net sales						255.9						—						221.5						—						(477.4)						—
Total net sales						1,056.0						1,529.3						1,229.0						—						(477.4)						3,336.9
Financial services revenue						—						—						—						261.4						—						261.4
Total revenue						$	1,056.0					$	1,529.3					$	1,229.0					$	261.4					$	(477.4)					$	3,598.3
* North America is comprised of the United States, Canada and Mexico.

						For the Three Months Ended October 2, 2021
						Commercial						Snap-on						Repair Systems
						& Industrial						Tools						& Information						Financial												Snap-on
(Amounts in millions)						Group						Group						Group						Services						Eliminations						Incorporated
Net sales:
North America*						$	128.3					$	407.4					$	217.5					$	—					$	—					$	753.2
Europe						76.9						40.3						58.7						—						—						175.9
All other						66.5						23.7						18.4						—						—						108.6
External net sales						271.7						471.4						294.6						—						—						1,037.7
Intersegment net sales						79.7						—						69.8						—						(149.5)						—
Total net sales						351.4						471.4						364.4						—						(149.5)						1,037.7
Financial services revenue						—						—						—						87.3						—						87.3
Total revenue						$	351.4					$	471.4					$	364.4					$	87.3					$	(149.5)					$	1,125.0

						For the Nine Months Ended October 2, 2021
						Commercial						Snap-on						Repair Systems
						& Industrial						Tools						& Information						Financial												Snap-on
(Amounts in millions)						Group						Group						Group						Services						Eliminations						Incorporated
Net sales:
North America*						$	372.9					$	1,231.8					$	655.2					$	—					$	—					$	2,259.9
Europe						240.4						128.3						185.8						—						—						554.5
All other						204.2						73.7						51.4						—						—						329.3
External net sales						817.5						1,433.8						892.4						—						—						3,143.7
Intersegment net sales						230.1						—						218.2						—						(448.3)						—
Total net sales						1,047.6						1,433.8						1,110.6						—						(448.3)						3,143.7
Financial services revenue						—						—						—						262.8						—						262.8
Total revenue						$	1,047.6					$	1,433.8					$	1,110.6					$	262.8					$	(448.3)					$	3,406.5
* North America is comprised of the United States, Canada and Mexico.

The following tables represent external net sales disaggregated by customer type:

						For the Three Months Ended October 1, 2022
						Commercial						Snap-on						Repair Systems
						& Industrial						Tools						& Information						Financial												Snap-on
(Amounts in millions)						Group						Group						Group						Services						Eliminations						Incorporated
Net sales:
Vehicle service professionals						$	20.8					$	496.6					$	343.1					$	—					$	—					$	860.5
All other professionals						242.0						—						—						—						—						242.0
External net sales						262.8						496.6						343.1						—						—						1,102.5
Intersegment net sales						94.0						—						70.9						—						(164.9)						—
Total net sales						356.8						496.6						414.0						—						(164.9)						1,102.5
Financial services revenue						—						—						—						87.3						—						87.3
Total revenue						$	356.8					$	496.6					$	414.0					$	87.3					$	(164.9)					$	1,189.8

						For the Nine Months Ended October 1, 2022
						Commercial						Snap-on						Repair Systems
						& Industrial						Tools						& Information						Financial												Snap-on
(Amounts in millions)						Group						Group						Group						Services						Eliminations						Incorporated
Net sales:
Vehicle service professionals						$	69.9					$	1,529.3					$	1,007.5					$	—					$	—					$	2,606.7
All other professionals						730.2						—						—						—						—						730.2
External net sales						800.1						1,529.3						1,007.5						—						—						3,336.9
Intersegment net sales						255.9						—						221.5						—						(477.4)						—
Total net sales						1,056.0						1,529.3						1,229.0						—						(477.4)						3,336.9
Financial services revenue						—						—						—						261.4						—						261.4
Total revenue						$	1,056.0					$	1,529.3					$	1,229.0					$	261.4					$	(477.4)					$	3,598.3

						For the Three Months Ended October 2, 2021
						Commercial						Snap-on						Repair Systems
						& Industrial						Tools						& Information						Financial												Snap-on
(Amounts in millions)						Group						Group						Group						Services						Eliminations						Incorporated
Net sales:
Vehicle service professionals						$	24.3					$	471.4					$	294.6					$	—					$	—					$	790.3
All other professionals						247.4						—						—						—						—						247.4
External net sales						271.7						471.4						294.6						—						—						1,037.7
Intersegment net sales						79.7						—						69.8						—						(149.5)						—
Total net sales						351.4						471.4						364.4						—						(149.5)						1,037.7
Financial services revenue						—						—						—						87.3						—						87.3
Total revenue						$	351.4					$	471.4					$	364.4					$	87.3					$	(149.5)					$	1,125.0

						For the Nine Months Ended October 2, 2021
						Commercial						Snap-on						Repair Systems
						& Industrial						Tools						& Information						Financial												Snap-on
(Amounts in millions)						Group						Group						Group						Services						Eliminations						Incorporated
Net sales:
Vehicle service professionals						$	74.1					$	1,433.8					$	892.4					$	—					$	—					$	2,400.3
All other professionals						743.4						—						—						—						—						743.4
External net sales						817.5						1,433.8						892.4						—						—						3,143.7
Intersegment net sales						230.1						—						218.2						—						(448.3)						—
Total net sales						1,047.6						1,433.8						1,110.6						—						(448.3)						3,143.7
Financial services revenue						—						—						—						262.8						—						262.8
Total revenue						$	1,047.6					$	1,433.8					$	1,110.6					$	262.8					$	(448.3)					$	3,406.5

X

- Definition

Tabular disclosure of disaggregation of revenue into categories depicting how nature, amount, timing, and uncertainty of revenue and cash flows are affected by economic factor.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 5
-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130545-203045

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- References

No definition available.

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