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Pension Plans | 3 Months Ended
--- | ---
Mar. 30, 2024
Retirement Benefits [Abstract] |
Pension Plans | Pension Plans Snap-on’s net periodic pension benefit included the following components:
| Three Months Ended |  |
(Amounts in millions) | March 30, 2024 |  | April 1, 2023 |  |  |  |
Service cost | $ | 5.0 |  |  | $ | 4.9 |  |  |  |  |
Interest cost | 16.4 |  |  | 16.3 |  |  |  |  |
Expected return on plan assets | (25.5) |  |  | (26.2) |  |  |  |  |
Amortization of unrecognized loss | 2.1 |  |  | 0.3 |  |  |  |  |
Net periodic pension benefit | $ | (2.0) |  |  | $ | (4.7) |  |  |  |  |
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 $6.0 million to its foreign pension plans and $3.7 million to its domestic pension plans in 2024, as required by law. Depending on market and other conditions, Snap-on may make discretionary cash contributions to its pension plans in 2024.

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