XML 34 R23.htm IDEA: XBRL DOCUMENT
v3.24.2

Leases | 6 Months Ended
--- | ---
Jun. 29, 2024
Leases [Abstract] |
Leases | Leases Lessee accounting: Supplemental balance sheet information related to leases as of June 29, 2024, and December 30, 2023, is as follows:
(Amounts in millions) | June 29, 2024 |  | December 30, 2023
Finance leases: |  |  |
Property and equipment - gross | $ | 16.6 |  |  | $ | 19.1 |
Accumulated depreciation | (14.7) |  |  | (16.8) |
Property and equipment - net | $ | 1.9 |  |  | $ | 2.3 |
Other accrued liabilities | $ | 1.0 |  |  | $ | 1.6 |
Other long-term liabilities | 1.0 |  |  | 1.1 |
Total finance lease liabilities | $ | 2.0 |  |  | $ | 2.7 |
Operating leases: |  |  |
Operating lease right-of-use assets | $ | 74.9 |  |  | $ | 74.7 |
Other accrued liabilities | $ | 24.3 |  |  | $ | 23.8 |
Operating lease liabilities | 54.8 |  |  | 54.6 |
Total operating lease liabilities | $ | 79.1 |  |  | $ | 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 June 29, 2024, and December 30, 2023, is as follows:
(Amounts in millions) | June 29, 2024 |  | December 30, 2023
Finance leases: |  |  |
Property and equipment - gross | $ | 16.6 |  |  | $ | 19.1 |
Accumulated depreciation | (14.7) |  |  | (16.8) |
Property and equipment - net | $ | 1.9 |  |  | $ | 2.3 |
Other accrued liabilities | $ | 1.0 |  |  | $ | 1.6 |
Other long-term liabilities | 1.0 |  |  | 1.1 |
Total finance lease liabilities | $ | 2.0 |  |  | $ | 2.7 |
Operating leases: |  |  |
Operating lease right-of-use assets | $ | 74.9 |  |  | $ | 74.7 |
Other accrued liabilities | $ | 24.3 |  |  | $ | 23.8 |
Operating lease liabilities | 54.8 |  |  | 54.6 |
Total operating lease liabilities | $ | 79.1 |  |  | $ | 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 June 29, 2024, and December 30, 2023, is as follows:
(Amounts in millions) | June 29, 2024 |  | December 30, 2023
Finance leases: |  |  |
Property and equipment - gross | $ | 16.6 |  |  | $ | 19.1 |
Accumulated depreciation | (14.7) |  |  | (16.8) |
Property and equipment - net | $ | 1.9 |  |  | $ | 2.3 |
Other accrued liabilities | $ | 1.0 |  |  | $ | 1.6 |
Other long-term liabilities | 1.0 |  |  | 1.1 |
Total finance lease liabilities | $ | 2.0 |  |  | $ | 2.7 |
Operating leases: |  |  |
Operating lease right-of-use assets | $ | 74.9 |  |  | $ | 74.7 |
Other accrued liabilities | $ | 24.3 |  |  | $ | 23.8 |
Operating lease liabilities | 54.8 |  |  | 54.6 |
Total operating lease liabilities | $ | 79.1 |  |  | $ | 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.

X
- References No definition available. + Details
Name: | us-gaap_LeasesAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for finance leases of lessee. Includes, but is not limited to, description of lessee's finance lease and maturity analysis of finance lease liability. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/842-20/tableOfContent + Details
Name: | us-gaap_LesseeFinanceLeasesTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for operating leases of lessee. Includes, but is not limited to, description of operating lease and maturity analysis of operating lease liability. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/842-20/tableOfContent + Details
Name: | us-gaap_LesseeOperatingLeasesTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure of lessor's sales-type leases. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 842 -SubTopic 30 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/842-30/tableOfContent + Details
Name: | us-gaap_LessorSalesTypeLeasesTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration