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v3.24.2

Segments (Tables) | 6 Months Ended
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Jun. 29, 2024
Segment Reporting [Abstract] |
Schedule of Net Sales by Segment | Financial Data by Segment:
| Three Months Ended |  | Six Months Ended
(Amounts in millions) | June 29, 2024 |  | July 1, 2023 |  | June 29, 2024 |  | July 1, 2023
Net sales: |  |  |  |  |  |  |
Commercial & Industrial Group | $ | 372.0 |  |  | $ | 364.2 |  |  | $ | 731.9 |  |  | $ | 728.0 |
Snap-on Tools Group | 482.0 |  |  | 523.1 |  |  | 982.1 |  |  | 1,060.1 |
Repair Systems & Information Group | 454.8 |  |  | 452.0 |  |  | 918.6 |  |  | 898.6 |
Segment net sales | 1,308.8 |  |  | 1,339.3 |  |  | 2,632.6 |  |  | 2,686.7 |
Intersegment eliminations | (129.4) |  |  | (148.0) |  |  | (270.9) |  |  | (312.4) |
Total net sales | 1,179.4 |  |  | 1,191.3 |  |  | 2,361.7 |  |  | 2,374.3 |
Financial Services revenue | 100.5 |  |  | 93.4 |  |  | 200.1 |  |  | 186.0 |
Total revenues | $ | 1,279.9 |  |  | $ | 1,284.7 |  |  | $ | 2,561.8 |  |  | $ | 2,560.3 |
Operating earnings: |  |  |  |  |  |  |
Commercial & Industrial Group | $ | 62.2 |  |  | $ | 58.1 |  |  | $ | 117.6 |  |  | $ | 113.9 |
Snap-on Tools Group | 114.8 |  |  | 137.7 |  |  | 232.1 |  |  | 269.4 |
Repair Systems & Information Group | 113.6 |  |  | 110.4 |  |  | 226.5 |  |  | 215.0 |
Financial Services | 70.2 |  |  | 66.9 |  |  | 138.5 |  |  | 133.2 |
Segment operating earnings | 360.8 |  |  | 373.1 |  |  | 714.7 |  |  | 731.5 |
Corporate | (10.3) |  |  | (29.2) |  |  | (25.0) |  |  | (61.5) |
Operating earnings | 350.5 |  |  | 343.9 |  |  | 689.7 |  |  | 670.0 |
Interest expense | (12.3) |  |  | (12.6) |  |  | (24.8) |  |  | (25.0) |
Other income (expense) – net | 18.7 |  |  | 16.8 |  |  | 36.8 |  |  | 32.0 |
Earnings before income taxes | $ | 356.9 |  |  | $ | 348.1 |  |  | $ | 701.7 |  |  | $ | 677.0 |
Schedule of Assets by Segment |
(Amounts in millions) | June 29, 2024 |  | December 30, 2023
Assets: |  |  |
Commercial & Industrial Group | $ | 1,274.3 |  |  | $ | 1,293.7 |
Snap-on Tools Group | 928.6 |  |  | 941.8 |
Repair Systems & Information Group | 1,661.5 |  |  | 1,680.0 |
Financial Services | 2,476.6 |  |  | 2,430.0 |
Total assets from reportable segments | 6,341.0 |  |  | 6,345.5 |
Corporate | 1,508.9 |  |  | 1,285.0 |
Elimination of intersegment receivables | (90.0) |  |  | (85.6) |
Total assets | $ | 7,759.9 |  |  | $ | 7,544.9 |

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- Definition Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-25 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-22 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-30 + Details
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