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Receivables (Tables)
 3 Months Ended
Mar. 30, 2024
Receivables [Abstract]  
Schedule of Components of Trade and Other Accounts Receivable
The components of Snap-on’s trade and other accounts receivable as of March 30, 2024, and December 30, 2023, are as follows:

(Amounts in millions)March 30,
2024		December 30, 2023
Trade and other accounts receivable$863.4 $826.2 
Allowances for credit losses(35.9)(34.9)
Total trade and other accounts receivable – net$827.5 $791.3 
Schedule of Allowance For Credit Losses On Receivables
The following is a rollforward of the allowances for credit losses related to trade and other accounts receivable for the three months ended March 30, 2024, and April 1, 2023:
Three Months Ended
(Amounts in millions)March 30, 2024April 1, 2023
Allowances for credit losses:
Beginning of period$34.9 $31.1 
Provision for credit losses
4.3 4.7 
Charge-offs
(3.0)(4.8)
Recoveries
0.1 — 
Currency translation
(0.4)0.2 
End of period$35.9 $31.2 
Schedule of Components of Finance and Contract Receivables, Current and Beyond One Year
The components of Snap-on’s current finance and contract receivables as of March 30, 2024, and December 30, 2023, are as follows:

(Amounts in millions)March 30,
2024		December 30, 2023
Finance installment receivables$614.5 $605.2 
Finance lease receivables, net of unearned finance charges of $4.3 million and $3.4 million, respectively
12.4 10.1 
Total finance receivables626.9 615.3 
Contract installment receivables55.5 59.9 
Contract lease receivables, net of unearned finance charges of $21.4 million and $21.1 million, respectively
62.8 62.7 
Total contract receivables118.3 122.6 
Total745.2 737.9 
Allowances for credit losses:
Finance installment receivables(21.8)(21.1)
Finance lease receivables(0.2)(0.1)
Total finance allowances for credit losses(22.0)(21.2)
Contract installment receivables(0.8)(0.9)
Contract lease receivables(0.9)(0.9)
Total contract allowances for credit losses(1.7)(1.8)
Total allowances for credit losses(23.7)(23.0)
Total current finance and contract receivables – net$721.5 $714.9 
Finance receivables – net$604.9 $594.1 
Contract receivables – net116.6 120.8 
Total current finance and contract receivables – net$721.5 $714.9 
The components of Snap-on’s finance and contract receivables with payment terms beyond one year as of March 30, 2024, and December 30, 2023, are as follows: 

(Amounts in millions)March 30,
2024		December 30, 2023
Finance installment receivables$1,323.0 $1,318.5 
Finance lease receivables, net of unearned finance charges of $3.5 million and $2.8 million, respectively
15.4 12.3 
Total finance receivables1,338.4 1,330.8 
Contract installment receivables219.9 216.0 
Contract lease receivables, net of unearned finance charges of $35.8 million and $35.1 million, respectively
198.8 196.8 
Total contract receivables418.7 412.8 
Total1,757.1 1,743.6 
Allowances for credit losses:
Finance installment receivables(47.5)(46.4)
Finance lease receivables(0.3)(0.2)
Total finance allowances for credit losses(47.8)(46.6)
Contract installment receivables(3.3)(3.1)
Contract lease receivables(1.8)(1.8)
Total contract allowances for credit losses(5.1)(4.9)
Total allowances for credit losses(52.9)(51.5)
Total long-term finance and contract receivables – net$1,704.2 $1,692.1 
Finance receivables – net$1,290.6 $1,284.2 
Contract receivables – net413.6 407.9 
Total long-term finance and contract receivables – net$1,704.2 $1,692.1 
Schedule of Financing Receivable Credit Quality Indicators
The amortized cost basis of finance and contract receivables by origination year as of March 30, 2024, and charge-offs recorded in the three months ended March 30, 2024, by origination year, are as follows:

(Amounts in millions)20242023202220212020PriorTotal
Finance receivables:
Delinquent$0.2 $24.1 $15.8 $7.4 $3.9 $2.3 $53.7 
Non-delinquent513.3 937.8 297.1 107.2 44.7 11.5 1,911.6 
Total Finance receivables$513.5 $961.9 $312.9 $114.6 $48.6 $13.8 $1,965.3 
Finance receivables charge-offs$— $7.7 $6.0 $2.6 $1.4 $0.6 $18.3 
Contract receivables:
Delinquent$— $0.3 $0.9 $0.5 $0.5 $0.4 $2.6 
Non-delinquent54.9 178.3 116.5 78.2 52.0 54.5 534.4 
Total Contract receivables$54.9 $178.6 $117.4 $78.7 $52.5 $54.9 $537.0 
Contract receivables charge-offs$— $0.1 $0.1 $0.1 $0.2 $0.1 $0.6 
Schedule of Financing Receivable, Allowance for Credit Loss
The following is a rollforward of the allowances for credit losses for finance and contract receivables for the three months ended March 30, 2024, and April 1, 2023:
 
Three Months Ended
March 30, 2024		Three Months Ended
April 1, 2023
(Amounts in millions)Finance
Receivables		Contract
Receivables		Finance
Receivables		Contract
Receivables
Allowances for credit losses:
Beginning of period$67.8 $6.7 $60.9 $6.6 
Provision for credit losses18.2 0.6 14.2 0.3 
Charge-offs(18.3)(0.6)(14.5)(0.5)
Recoveries2.2 0.1 2.1 0.1 
Currency translation(0.1)— — — 
End of period$69.8 $6.8 $62.7 $6.5 
Schedule of Aging of Finance and Contract Receivables
The aging of finance and contract receivables as of March 30, 2024, and December 30, 2023, is as follows:
(Amounts in millions)30-59
Days Past
Due		60-90
Days Past
Due		Greater
Than 90
Days Past
Due		Total Past
Due		Total Not
Past Due		TotalGreater
Than 90
Days Past
Due and
Accruing
March 30, 2024:
Finance receivables$15.9 $12.7 $25.1 $53.7 $1,911.6 $1,965.3 $21.2 
Contract receivables1.1 0.3 1.2 2.6 534.4 537.0 0.3 
December 30, 2023:
Finance receivables$21.5 $13.6 $23.2 $58.3 $1,887.8 $1,946.1 $19.9 
Contract receivables1.5 0.6 1.2 3.3 532.1 535.4 0.2 
Schedule of Finance and Contract Receivables on Nonaccrual Status
The amount of finance and contract receivables on nonaccrual status as of March 30, 2024, and December 30, 2023, is as follows:

(Amounts in millions)March 30,
2024		December 30, 2023
Finance receivables$11.3 $10.6 
Contract receivables2.6 3.3