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v3.23.2

Revenue Recognition - (Tables) | 6 Months Ended
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Jul. 01, 2023
Revenue from Contract with Customer [Abstract] |
Schedule of Disaggregation of Revenue | The following table shows the consolidated revenues by revenue source:
| Three Months Ended |  | Six Months Ended
(Amounts in millions) | July 1, 2023 |  | July 2, 2022 |  | July 1, 2023 |  | July 2, 2022
Revenue from contracts with customers | $ | 1,184.6 |  |  | $ | 1,130.5 |  |  | $ | 2,361.1 |  |  | $ | 2,222.4 |
Other revenues | 6.7 |  |  | 6.1 |  |  | 13.2 |  |  | 12.0 |
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 |
The following tables represent external net sales disaggregated by geography, based on the customers’ billing addresses:
|  | For the Three Months Ended July 1, 2023
|  | Commercial |  | Snap-on |  | Repair Systems |  |  |  |  |  |
|  | & Industrial |  | Tools |  | & Information |  | Financial |  |  |  | Snap-on
(Amounts in millions) |  | Group |  | Group |  | Group |  | Services |  | Eliminations |  | Incorporated
Net sales: |  |  |  |  |  |  |  |  |  |  |  |
North America* |  | $ | 144.3 |  |  | $ | 459.3 |  |  | $ | 285.9 |  |  | $ | — |  |  | $ | — |  |  | $ | 889.5 |
Europe |  | 75.5 |  |  | 39.0 |  |  | 63.6 |  |  | — |  |  | — |  |  | 178.1 |
All other |  | 70.0 |  |  | 24.8 |  |  | 28.9 |  |  | — |  |  | — |  |  | 123.7 |
External net sales |  | 289.8 |  |  | 523.1 |  |  | 378.4 |  |  | — |  |  | — |  |  | 1,191.3 |
Intersegment net sales |  | 74.4 |  |  | — |  |  | 73.6 |  |  | — |  |  | (148.0) |  |  | — |
Total net sales |  | 364.2 |  |  | 523.1 |  |  | 452.0 |  |  | — |  |  | (148.0) |  |  | 1,191.3 |
Financial services revenue |  | — |  |  | — |  |  | — |  |  | 93.4 |  |  | — |  |  | 93.4 |
Total revenue |  | $ | 364.2 |  |  | $ | 523.1 |  |  | $ | 452.0 |  |  | $ | 93.4 |  |  | $ | (148.0) |  |  | $ | 1,284.7 |
|  | For the Six Months Ended July 1, 2023
|  | Commercial |  | Snap-on |  | Repair Systems |  |  |  |  |  |
|  | & Industrial |  | Tools |  | & Information |  | Financial |  |  |  | Snap-on
(Amounts in millions) |  | Group |  | Group |  | Group |  | Services |  | Eliminations |  | Incorporated
Net sales: |  |  |  |  |  |  |  |  |  |  |  |
North America* |  | $ | 281.9 |  |  | $ | 933.2 |  |  | $ | 567.7 |  |  | $ | — |  |  | $ | — |  |  | $ | 1,782.8 |
Europe |  | 150.5 |  |  | 74.7 |  |  | 126.8 |  |  | — |  |  | — |  |  | 352.0 |
All other |  | 136.0 |  |  | 52.2 |  |  | 51.3 |  |  | — |  |  | — |  |  | 239.5 |
External net sales |  | 568.4 |  |  | 1,060.1 |  |  | 745.8 |  |  | — |  |  | — |  |  | 2,374.3 |
Intersegment net sales |  | 159.6 |  |  | — |  |  | 152.8 |  |  | — |  |  | (312.4) |  |  | — |
Total net sales |  | 728.0 |  |  | 1,060.1 |  |  | 898.6 |  |  | — |  |  | (312.4) |  |  | 2,374.3 |
Financial services revenue |  | — |  |  | — |  |  | — |  |  | 186.0 |  |  | — |  |  | 186.0 |
Total revenue |  | $ | 728.0 |  |  | $ | 1,060.1 |  |  | $ | 898.6 |  |  | $ | 186.0 |  |  | $ | (312.4) |  |  | $ | 2,560.3 |
* North America is comprised of the United States, Canada and Mexico. |  |  |  |  |  |  |  |
|  | For the Three Months Ended July 2, 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* |  | $ | 128.7 |  |  | $ | 460.3 |  |  | $ | 254.7 |  |  | $ | — |  |  | $ | — |  |  | $ | 843.7 |
Europe |  | 73.1 |  |  | 36.4 |  |  | 60.4 |  |  | — |  |  | — |  |  | 169.9 |
All other |  | 74.3 |  |  | 23.9 |  |  | 24.8 |  |  | — |  |  | — |  |  | 123.0 |
External net sales |  | 276.1 |  |  | 520.6 |  |  | 339.9 |  |  | — |  |  | — |  |  | 1,136.6 |
Intersegment net sales |  | 83.0 |  |  | — |  |  | 76.9 |  |  | — |  |  | (159.9) |  |  | — |
Total net sales |  | 359.1 |  |  | 520.6 |  |  | 416.8 |  |  | — |  |  | (159.9) |  |  | 1,136.6 |
Financial services revenue |  | — |  |  | — |  |  | — |  |  | 86.4 |  |  | — |  |  | 86.4 |
Total revenue |  | $ | 359.1 |  |  | $ | 520.6 |  |  | $ | 416.8 |  |  | $ | 86.4 |  |  | $ | (159.9) |  |  | $ | 1,223.0 |
|  | For the Six Months Ended July 2, 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* |  | $ | 242.4 |  |  | $ | 908.1 |  |  | $ | 497.5 |  |  | $ | — |  |  | $ | — |  |  | $ | 1,648.0 |
Europe |  | 154.9 |  |  | 76.5 |  |  | 122.3 |  |  | — |  |  | — |  |  | 353.7 |
All other |  | 140.0 |  |  | 48.1 |  |  | 44.6 |  |  | — |  |  | — |  |  | 232.7 |
External net sales |  | 537.3 |  |  | 1,032.7 |  |  | 664.4 |  |  | — |  |  | — |  |  | 2,234.4 |
Intersegment net sales |  | 161.9 |  |  | — |  |  | 150.6 |  |  | — |  |  | (312.5) |  |  | — |
Total net sales |  | 699.2 |  |  | 1,032.7 |  |  | 815.0 |  |  | — |  |  | (312.5) |  |  | 2,234.4 |
Financial services revenue |  | — |  |  | — |  |  | — |  |  | 174.1 |  |  | — |  |  | 174.1 |
Total revenue |  | $ | 699.2 |  |  | $ | 1,032.7 |  |  | $ | 815.0 |  |  | $ | 174.1 |  |  | $ | (312.5) |  |  | $ | 2,408.5 |
* 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 July 1, 2023
|  | 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 |  | $ | 21.7 |  |  | $ | 523.1 |  |  | $ | 378.4 |  |  | $ | — |  |  | $ | — |  |  | $ | 923.2 |
All other professionals |  | 268.1 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 268.1 |
External net sales |  | 289.8 |  |  | 523.1 |  |  | 378.4 |  |  | — |  |  | — |  |  | 1,191.3 |
Intersegment net sales |  | 74.4 |  |  | — |  |  | 73.6 |  |  | — |  |  | (148.0) |  |  | — |
Total net sales |  | 364.2 |  |  | 523.1 |  |  | 452.0 |  |  | — |  |  | (148.0) |  |  | 1,191.3 |
Financial services revenue |  | — |  |  | — |  |  | — |  |  | 93.4 |  |  | — |  |  | 93.4 |
Total revenue |  | $ | 364.2 |  |  | $ | 523.1 |  |  | $ | 452.0 |  |  | $ | 93.4 |  |  | $ | (148.0) |  |  | $ | 1,284.7 |
|  | For the Six Months Ended July 1, 2023
|  | 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 |  | $ | 42.8 |  |  | $ | 1,060.1 |  |  | $ | 745.8 |  |  | $ | — |  |  | $ | — |  |  | $ | 1,848.7 |
All other professionals |  | 525.6 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 525.6 |
External net sales |  | 568.4 |  |  | 1,060.1 |  |  | 745.8 |  |  | — |  |  | — |  |  | 2,374.3 |
Intersegment net sales |  | 159.6 |  |  | — |  |  | 152.8 |  |  | — |  |  | (312.4) |  |  | — |
Total net sales |  | 728.0 |  |  | 1,060.1 |  |  | 898.6 |  |  | — |  |  | (312.4) |  |  | 2,374.3 |
Financial services revenue |  | — |  |  | — |  |  | — |  |  | 186.0 |  |  | — |  |  | 186.0 |
Total revenue |  | $ | 728.0 |  |  | $ | 1,060.1 |  |  | $ | 898.6 |  |  | $ | 186.0 |  |  | $ | (312.4) |  |  | $ | 2,560.3 |
|  | For the Three Months Ended July 2, 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 |  | $ | 25.2 |  |  | $ | 520.6 |  |  | $ | 339.9 |  |  | $ | — |  |  | $ | — |  |  | $ | 885.7 |
All other professionals |  | 250.9 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 250.9 |
External net sales |  | 276.1 |  |  | 520.6 |  |  | 339.9 |  |  | — |  |  | — |  |  | 1,136.6 |
Intersegment net sales |  | 83.0 |  |  | — |  |  | 76.9 |  |  | — |  |  | (159.9) |  |  | — |
Total net sales |  | 359.1 |  |  | 520.6 |  |  | 416.8 |  |  | — |  |  | (159.9) |  |  | 1,136.6 |
Financial services revenue |  | — |  |  | — |  |  | — |  |  | 86.4 |  |  | — |  |  | 86.4 |
Total revenue |  | $ | 359.1 |  |  | $ | 520.6 |  |  | $ | 416.8 |  |  | $ | 86.4 |  |  | $ | (159.9) |  |  | $ | 1,223.0 |
|  | For the Six Months Ended July 2, 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 |  | $ | 49.1 |  |  | $ | 1,032.7 |  |  | $ | 664.4 |  |  | $ | — |  |  | $ | — |  |  | $ | 1,746.2 |
All other professionals |  | 488.2 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 488.2 |
External net sales |  | 537.3 |  |  | 1,032.7 |  |  | 664.4 |  |  | — |  |  | — |  |  | 2,234.4 |
Intersegment net sales |  | 161.9 |  |  | — |  |  | 150.6 |  |  | — |  |  | (312.5) |  |  | — |
Total net sales |  | 699.2 |  |  | 1,032.7 |  |  | 815.0 |  |  | — |  |  | (312.5) |  |  | 2,234.4 |
Financial services revenue |  | — |  |  | — |  |  | — |  |  | 174.1 |  |  | — |  |  | 174.1 |
Total revenue |  | $ | 699.2 |  |  | $ | 1,032.7 |  |  | $ | 815.0 |  |  | $ | 174.1 |  |  | $ | (312.5) |  |  | $ | 2,408.5 |

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- 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 -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 5 -Publisher FASB -URI https://asc.fasb.org//1943274/2147479806/606-10-50-5 + Details
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