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v3.23.3

Revenue Recognition - (Tables) | 9 Months Ended
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Sep. 30, 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 |  | Nine Months Ended
(Amounts in millions) | September 30, 2023 |  | October 1, 2022 |  | September 30, 2023 |  | October 1, 2022
Revenue from contracts with customers | $ | 1,152.2 |  |  | $ | 1,096.3 |  |  | $ | 3,513.3 |  |  | $ | 3,318.7 |
Other revenues | 7.1 |  |  | 6.2 |  |  | 20.3 |  |  | 18.2 |
Total net sales | 1,159.3 |  |  | 1,102.5 |  |  | 3,533.6 |  |  | 3,336.9 |
Financial services revenue | 94.9 |  |  | 87.3 |  |  | 280.9 |  |  | 261.4 |
Total revenues | $ | 1,254.2 |  |  | $ | 1,189.8 |  |  | $ | 3,814.5 |  |  | $ | 3,598.3 |
The following tables represent external net sales disaggregated by geography, based on the customers’ billing addresses:
|  | For the Three Months Ended September 30, 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* |  | $ | 146.4 |  |  | $ | 451.4 |  |  | $ | 282.0 |  |  | $ | — |  |  | $ | — |  |  | $ | 879.8 |
Europe |  | 69.6 |  |  | 37.5 |  |  | 54.0 |  |  | — |  |  | — |  |  | 161.1 |
All other |  | 64.5 |  |  | 26.5 |  |  | 27.4 |  |  | — |  |  | — |  |  | 118.4 |
External net sales |  | 280.5 |  |  | 515.4 |  |  | 363.4 |  |  | — |  |  | — |  |  | 1,159.3 |
Intersegment net sales |  | 85.9 |  |  | — |  |  | 68.4 |  |  | — |  |  | (154.3) |  |  | — |
Total net sales |  | 366.4 |  |  | 515.4 |  |  | 431.8 |  |  | — |  |  | (154.3) |  |  | 1,159.3 |
Financial services revenue |  | — |  |  | — |  |  | — |  |  | 94.9 |  |  | — |  |  | 94.9 |
Total revenue |  | $ | 366.4 |  |  | $ | 515.4 |  |  | $ | 431.8 |  |  | $ | 94.9 |  |  | $ | (154.3) |  |  | $ | 1,254.2 |
|  | For the Nine Months Ended September 30, 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* |  | $ | 428.3 |  |  | $ | 1,384.6 |  |  | $ | 849.7 |  |  | $ | — |  |  | $ | — |  |  | $ | 2,662.6 |
Europe |  | 220.1 |  |  | 112.2 |  |  | 180.8 |  |  | — |  |  | — |  |  | 513.1 |
All other |  | 200.5 |  |  | 78.7 |  |  | 78.7 |  |  | — |  |  | — |  |  | 357.9 |
External net sales |  | 848.9 |  |  | 1,575.5 |  |  | 1,109.2 |  |  | — |  |  | — |  |  | 3,533.6 |
Intersegment net sales |  | 245.5 |  |  | — |  |  | 221.2 |  |  | — |  |  | (466.7) |  |  | — |
Total net sales |  | 1,094.4 |  |  | 1,575.5 |  |  | 1,330.4 |  |  | — |  |  | (466.7) |  |  | 3,533.6 |
Financial services revenue |  | — |  |  | — |  |  | — |  |  | 280.9 |  |  | — |  |  | 280.9 |
Total revenue |  | $ | 1,094.4 |  |  | $ | 1,575.5 |  |  | $ | 1,330.4 |  |  | $ | 280.9 |  |  | $ | (466.7) |  |  | $ | 3,814.5 |
* North America is comprised of the United States, Canada and Mexico. |  |  |  |  |  |  |  |
|  | 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. |  |  |  |  |  |  |  |
The following tables represent external net sales disaggregated by customer type:
|  | For the Three Months Ended September 30, 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 |  | $ | 19.4 |  |  | $ | 515.4 |  |  | $ | 363.4 |  |  | $ | — |  |  | $ | — |  |  | $ | 898.2 |
All other professionals |  | 261.1 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 261.1 |
External net sales |  | 280.5 |  |  | 515.4 |  |  | 363.4 |  |  | — |  |  | — |  |  | 1,159.3 |
Intersegment net sales |  | 85.9 |  |  | — |  |  | 68.4 |  |  | — |  |  | (154.3) |  |  | — |
Total net sales |  | 366.4 |  |  | 515.4 |  |  | 431.8 |  |  | — |  |  | (154.3) |  |  | 1,159.3 |
Financial services revenue |  | — |  |  | — |  |  | — |  |  | 94.9 |  |  | — |  |  | 94.9 |
Total revenue |  | $ | 366.4 |  |  | $ | 515.4 |  |  | $ | 431.8 |  |  | $ | 94.9 |  |  | $ | (154.3) |  |  | $ | 1,254.2 |
|  | For the Nine Months Ended September 30, 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 |  | $ | 62.2 |  |  | $ | 1,575.5 |  |  | $ | 1,109.2 |  |  | $ | — |  |  | $ | — |  |  | $ | 2,746.9 |
All other professionals |  | 786.7 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 786.7 |
External net sales |  | 848.9 |  |  | 1,575.5 |  |  | 1,109.2 |  |  | — |  |  | — |  |  | 3,533.6 |
Intersegment net sales |  | 245.5 |  |  | — |  |  | 221.2 |  |  | — |  |  | (466.7) |  |  | — |
Total net sales |  | 1,094.4 |  |  | 1,575.5 |  |  | 1,330.4 |  |  | — |  |  | (466.7) |  |  | 3,533.6 |
Financial services revenue |  | — |  |  | — |  |  | — |  |  | 280.9 |  |  | — |  |  | 280.9 |
Total revenue |  | $ | 1,094.4 |  |  | $ | 1,575.5 |  |  | $ | 1,330.4 |  |  | $ | 280.9 |  |  | $ | (466.7) |  |  | $ | 3,814.5 |
|  | 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 |

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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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