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v3.23.2

Segments - (Tables) | 6 Months Ended
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Jul. 01, 2023
Segment Reporting [Abstract] |
Schedule of Net Sales by Segment | Financial Data by Segment:
| Three Months Ended |  | Six Months Ended
(Amounts in millions) | July 1, 2023 |  | July 2, 2022 |  | July 1, 2023 |  | July 2, 2022
Net sales: |  |  |  |  |  |  |
Commercial & Industrial Group | $ | 364.2 |  |  | $ | 359.1 |  |  | $ | 728.0 |  |  | $ | 699.2 |
Snap-on Tools Group | 523.1 |  |  | 520.6 |  |  | 1,060.1 |  |  | 1,032.7 |
Repair Systems & Information Group | 452.0 |  |  | 416.8 |  |  | 898.6 |  |  | 815.0 |
Segment net sales | 1,339.3 |  |  | 1,296.5 |  |  | 2,686.7 |  |  | 2,546.9 |
Intersegment eliminations | (148.0) |  |  | (159.9) |  |  | (312.4) |  |  | (312.5) |
Total net sales | 1,191.3 |  |  | 1,136.6 |  |  | 2,374.3 |  |  | 2,234.4 |
Financial Services revenue | 93.4 |  |  | 86.4 |  |  | 186.0 |  |  | 174.1 |
Total revenues | $ | 1,284.7 |  |  | $ | 1,223.0 |  |  | $ | 2,560.3 |  |  | $ | 2,408.5 |
Operating earnings: |  |  |  |  |  |  |
Commercial & Industrial Group | $ | 58.1 |  |  | $ | 51.7 |  |  | $ | 113.9 |  |  | $ | 97.4 |
Snap-on Tools Group | 137.7 |  |  | 124.4 |  |  | 269.4 |  |  | 240.4 |
Repair Systems & Information Group | 110.4 |  |  | 95.7 |  |  | 215.0 |  |  | 187.3 |
Financial Services | 66.9 |  |  | 65.3 |  |  | 133.2 |  |  | 135.7 |
Segment operating earnings | 373.1 |  |  | 337.1 |  |  | 731.5 |  |  | 660.8 |
Corporate | (29.2) |  |  | (25.2) |  |  | (61.5) |  |  | (55.4) |
Operating earnings | 343.9 |  |  | 311.9 |  |  | 670.0 |  |  | 605.4 |
Interest expense | (12.6) |  |  | (11.7) |  |  | (25.0) |  |  | (23.3) |
Other income (expense) – net | 16.8 |  |  | 9.3 |  |  | 32.0 |  |  | 17.6 |
Earnings before income taxes | $ | 348.1 |  |  | $ | 309.5 |  |  | $ | 677.0 |  |  | $ | 599.7 |
Schedule of Assets by Segment |
(Amounts in millions) | July 1, 2023 |  | December 31, 2022
Assets: |  |  |
Commercial & Industrial Group | $ | 1,281.6 |  |  | $ | 1,245.8 |
Snap-on Tools Group | 917.4 |  |  | 912.9 |
Repair Systems & Information Group | 1,687.5 |  |  | 1,678.1 |
Financial Services | 2,345.7 |  |  | 2,242.7 |
Total assets from reportable segments | 6,232.2 |  |  | 6,079.5 |
Corporate | 1,087.2 |  |  | 972.9 |
Elimination of intersegment receivables | (89.0) |  |  | (79.6) |
Total assets | $ | 7,230.4 |  |  | $ | 6,972.8 |

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- Definition Tabular disclosure of all significant reconciling items in the reconciliation of total assets from reportable segments to the entity's consolidated assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-31 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-30 + Details
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- Definition Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 1 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482573/350-20-50-1 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-25 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-22 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-30 + Details
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