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CONDENSED CONSOLIDATED STATEMENTS OF EARNINGS - USD ($)
$ in Millions
3 Months Ended 6 Months Ended
Jun. 29, 2024
Jul. 01, 2023
Jun. 29, 2024
Jul. 01, 2023
Net sales $ 1,279.9 $ 1,284.7 $ 2,561.8 $ 2,560.3
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
Income tax expense (79.3) (78.2) (154.5) (152.8)
Net earnings 277.6 269.9 547.2 524.2
Net earnings attributable to noncontrolling interests (6.4) (5.9) (12.5) (11.5)
Net earnings attributable to Snap-on Incorporated $ 271.2 $ 264.0 $ 534.7 $ 512.7
Net earnings per share attributable to Snap-on Incorporated:        
Basic (in dollars per share) $ 5.15 $ 4.98 $ 10.15 $ 9.67
Diluted (in dollars per share) $ 5.07 $ 4.89 $ 9.98 $ 9.49
Weighted-average shares outstanding:        
Basic (in shares) 52,661,542 52,956,701 52,701,553 52,987,935
Effect of dilutive securities (in shares) 834,342 1,049,178 881,904 1,046,880
Diluted (in shares) 53,495,884 54,005,879 53,583,457 54,034,815
Dividends declared per common share (in dollars per share) $ 1.86 $ 1.62 $ 3.72 $ 3.24
Total net sales        
Net sales $ 1,179.4 $ 1,191.3 $ 2,361.7 $ 2,374.3
Cost of goods sold (582.1) (587.6) (1,167.7) (1,181.0)
Gross profit 597.3 603.7 1,194.0 1,193.3
Operating expenses (317.0) (326.7) (642.8) (656.5)
Operating earnings 280.3 277.0 551.2 536.8
Financial services revenue        
Net sales 100.5 93.4 200.1 186.0
Cost of goods sold (30.3) (26.5) (61.6) (52.8)
Operating earnings $ 70.2 $ 66.9 $ 138.5 $ 133.2