XML 34 R23.htm IDEA: XBRL DOCUMENT v3.24.1.u1
Leases
 3 Months Ended
Mar. 30, 2024
Leases [Abstract]  
Leases Leases
Lessee accounting: Supplemental balance sheet information related to leases as of March 30, 2024, and December 30, 2023, is as follows:

(Amounts in millions)March 30,
2024		December 30, 2023
Finance leases:
Property and equipment - gross$17.7 $19.1 
Accumulated depreciation(15.7)(16.8)
Property and equipment - net$2.0 $2.3 
 Other accrued liabilities$1.3 $1.6 
 Other long-term liabilities0.9 1.1 
Total finance lease liabilities$2.2 $2.7 
Operating leases:
Operating lease right-of-use assets$74.4 $74.7 
 Other accrued liabilities$23.9 $23.8 
 Operating lease liabilities54.5 54.6 
Total operating lease liabilities$78.4 $78.4 
Lessor accounting: Snap-on’s Financial Services business offers lease financing to support the sales of tools, diagnostics, and equipment products, as well as vehicle leases for franchisees. Sales-type leases are included in both “Finance receivables – net” and “Long-term finance receivables – net” and also in both “Contract receivables – net” and “Long-term contract receivables – net” on the accompanying Condensed Consolidated Balance Sheets.
See Note 4 for additional information on finance and contract receivables.
Leases Leases
Lessee accounting: Supplemental balance sheet information related to leases as of March 30, 2024, and December 30, 2023, is as follows:

(Amounts in millions)March 30,
2024		December 30, 2023
Finance leases:
Property and equipment - gross$17.7 $19.1 
Accumulated depreciation(15.7)(16.8)
Property and equipment - net$2.0 $2.3 
 Other accrued liabilities$1.3 $1.6 
 Other long-term liabilities0.9 1.1 
Total finance lease liabilities$2.2 $2.7 
Operating leases:
Operating lease right-of-use assets$74.4 $74.7 
 Other accrued liabilities$23.9 $23.8 
 Operating lease liabilities54.5 54.6 
Total operating lease liabilities$78.4 $78.4 
Lessor accounting: Snap-on’s Financial Services business offers lease financing to support the sales of tools, diagnostics, and equipment products, as well as vehicle leases for franchisees. Sales-type leases are included in both “Finance receivables – net” and “Long-term finance receivables – net” and also in both “Contract receivables – net” and “Long-term contract receivables – net” on the accompanying Condensed Consolidated Balance Sheets.
See Note 4 for additional information on finance and contract receivables.
Leases Leases
Lessee accounting: Supplemental balance sheet information related to leases as of March 30, 2024, and December 30, 2023, is as follows:

(Amounts in millions)March 30,
2024		December 30, 2023
Finance leases:
Property and equipment - gross$17.7 $19.1 
Accumulated depreciation(15.7)(16.8)
Property and equipment - net$2.0 $2.3 
 Other accrued liabilities$1.3 $1.6 
 Other long-term liabilities0.9 1.1 
Total finance lease liabilities$2.2 $2.7 
Operating leases:
Operating lease right-of-use assets$74.4 $74.7 
 Other accrued liabilities$23.9 $23.8 
 Operating lease liabilities54.5 54.6 
Total operating lease liabilities$78.4 $78.4 
Lessor accounting: Snap-on’s Financial Services business offers lease financing to support the sales of tools, diagnostics, and equipment products, as well as vehicle leases for franchisees. Sales-type leases are included in both “Finance receivables – net” and “Long-term finance receivables – net” and also in both “Contract receivables – net” and “Long-term contract receivables – net” on the accompanying Condensed Consolidated Balance Sheets.
See Note 4 for additional information on finance and contract receivables.