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Pension Plans
 6 Months Ended
Jul. 01, 2023
Retirement Benefits [Abstract]  
Pension Plans Pension Plans
Snap-on’s net periodic pension benefit included the following components: 
Three Months EndedSix Months Ended
(Amounts in millions)July 1, 2023July 2, 2022July 1, 2023July 2, 2022
Service cost$4.5 $6.3 $9.4 $13.4 
Interest cost16.4 11.2 32.7 22.3 
Expected return on plan assets(26.1)(25.4)(52.3)(49.9)
Amortization of unrecognized loss0.4 4.7 0.7 9.2 
Net periodic pension benefit$(4.8)$(3.2)$(9.5)$(5.0)
The components of net periodic pension benefit, other than the service cost component, are included in “Other income (expense) – net” on the accompanying Condensed Consolidated Statements of Earnings. See Note 16 for additional information on other income (expense) – net.
Snap-on intends to make contributions of $6.9 million to its foreign pension plans and $2.4 million to its domestic pension plans in 2023, as required by law. Depending on market and other conditions, Snap-on may make discretionary cash contributions to its pension plans in 2023.