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Revenue Recognition - (Tables)

9 Months Ended

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

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
-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

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- References

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