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Revenue Recognition (Tables)

6 Months Ended

Jun. 29, 2024

Revenue from Contract with Customer [Abstract]

Schedule of Disaggregation of Revenue

The following table shows the consolidated revenues by revenue source:

			Three Months Ended												Six Months Ended
(Amounts in millions)			June 29, 2024						July 1, 2023						June 29, 2024						July 1, 2023
Revenue from contracts with customers			$	1,172.0					$	1,184.6					$	2,347.2					$	2,361.1
Other revenues			7.4						6.7						14.5						13.2
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

The following tables represent external net sales disaggregated by geography, based on the customers’ billing addresses:

						For the Three Months Ended June 29, 2024
						Commercial						Snap-on						Repair Systems
						& Industrial						Tools						& Information						Financial												Snap-on
(Amounts in millions)						Group						Group						Group						Services						Eliminations						Incorporated
Net sales:
North America*						$	163.5					$	413.4					$	298.2					$	—					$	—					$	875.1
Europe						76.8						41.4						67.2						—						—						185.4
All other						64.7						27.2						27.0						—						—						118.9
External net sales						305.0						482.0						392.4						—						—						1,179.4
Intersegment net sales						67.0						—						62.4						—						(129.4)						—
Total net sales						372.0						482.0						454.8						—						(129.4)						1,179.4
Financial services revenue						—						—						—						100.5						—						100.5
Total revenue						$	372.0					$	482.0					$	454.8					$	100.5					$	(129.4)					$	1,279.9

						For the Six Months Ended June 29, 2024
						Commercial						Snap-on						Repair Systems
						& Industrial						Tools						& Information						Financial												Snap-on
(Amounts in millions)						Group						Group						Group						Services						Eliminations						Incorporated
Net sales:
North America*						$	312.1					$	846.7					$	600.3					$	—					$	—					$	1,759.1
Europe						157.8						81.0						129.3						—						—						368.1
All other						126.1						54.4						54.0						—						—						234.5
External net sales						596.0						982.1						783.6						—						—						2,361.7
Intersegment net sales						135.9						—						135.0						—						(270.9)						—
Total net sales						731.9						982.1						918.6						—						(270.9)						2,361.7
Financial services revenue						—						—						—						200.1						—						200.1
Total revenue						$	731.9					$	982.1					$	918.6					$	200.1					$	(270.9)					$	2,561.8
* North America is comprised of the United States, Canada and Mexico.

						For the Three Months Ended July 1, 2023
						Commercial						Snap-on						Repair Systems
						& Industrial						Tools						& Information						Financial												Snap-on
(Amounts in millions)						Group						Group						Group						Services						Eliminations						Incorporated
Net sales:
North America*						$	144.3					$	459.3					$	285.9					$	—					$	—					$	889.5
Europe						75.5						39.0						63.6						—						—						178.1
All other						70.0						24.8						28.9						—						—						123.7
External net sales						289.8						523.1						378.4						—						—						1,191.3
Intersegment net sales						74.4						—						73.6						—						(148.0)						—
Total net sales						364.2						523.1						452.0						—						(148.0)						1,191.3
Financial services revenue						—						—						—						93.4						—						93.4
Total revenue						$	364.2					$	523.1					$	452.0					$	93.4					$	(148.0)					$	1,284.7

						For the Six Months Ended July 1, 2023
						Commercial						Snap-on						Repair Systems
						& Industrial						Tools						& Information						Financial												Snap-on
(Amounts in millions)						Group						Group						Group						Services						Eliminations						Incorporated
Net sales:
North America*						$	281.9					$	933.2					$	567.7					$	—					$	—					$	1,782.8
Europe						150.5						74.7						126.8						—						—						352.0
All other						136.0						52.2						51.3						—						—						239.5
External net sales						568.4						1,060.1						745.8						—						—						2,374.3
Intersegment net sales						159.6						—						152.8						—						(312.4)						—
Total net sales						728.0						1,060.1						898.6						—						(312.4)						2,374.3
Financial services revenue						—						—						—						186.0						—						186.0
Total revenue						$	728.0					$	1,060.1					$	898.6					$	186.0					$	(312.4)					$	2,560.3
* North America is comprised of the United States, Canada and Mexico.

The following tables represent external net sales disaggregated by customer type:

						For the Three Months Ended June 29, 2024
						Commercial						Snap-on						Repair Systems
						& Industrial						Tools						& Information						Financial												Snap-on
(Amounts in millions)						Group						Group						Group						Services						Eliminations						Incorporated
Net sales:
Vehicle service professionals						$	21.0					$	482.0					$	392.4					$	—					$	—					$	895.4
All other professionals						284.0						—						—						—						—						284.0
External net sales						305.0						482.0						392.4						—						—						1,179.4
Intersegment net sales						67.0						—						62.4						—						(129.4)						—
Total net sales						372.0						482.0						454.8						—						(129.4)						1,179.4
Financial services revenue						—						—						—						100.5						—						100.5
Total revenue						$	372.0					$	482.0					$	454.8					$	100.5					$	(129.4)					$	1,279.9

						For the Six Months Ended June 29, 2024
						Commercial						Snap-on						Repair Systems
						& Industrial						Tools						& Information						Financial												Snap-on
(Amounts in millions)						Group						Group						Group						Services						Eliminations						Incorporated
Net sales:
Vehicle service professionals						$	41.3					$	982.1					$	783.6					$	—					$	—					$	1,807.0
All other professionals						554.7						—						—						—						—						554.7
External net sales						596.0						982.1						783.6						—						—						2,361.7
Intersegment net sales						135.9						—						135.0						—						(270.9)						—
Total net sales						731.9						982.1						918.6						—						(270.9)						2,361.7
Financial services revenue						—						—						—						200.1						—						200.1
Total revenue						$	731.9					$	982.1					$	918.6					$	200.1					$	(270.9)					$	2,561.8

						For the Three Months Ended July 1, 2023
						Commercial						Snap-on						Repair Systems
						& Industrial						Tools						& Information						Financial												Snap-on
(Amounts in millions)						Group						Group						Group						Services						Eliminations						Incorporated
Net sales:
Vehicle service professionals						$	21.7					$	523.1					$	378.4					$	—					$	—					$	923.2
All other professionals						268.1						—						—						—						—						268.1
External net sales						289.8						523.1						378.4						—						—						1,191.3
Intersegment net sales						74.4						—						73.6						—						(148.0)						—
Total net sales						364.2						523.1						452.0						—						(148.0)						1,191.3
Financial services revenue						—						—						—						93.4						—						93.4
Total revenue						$	364.2					$	523.1					$	452.0					$	93.4					$	(148.0)					$	1,284.7

						For the Six Months Ended July 1, 2023
						Commercial						Snap-on						Repair Systems
						& Industrial						Tools						& Information						Financial												Snap-on
(Amounts in millions)						Group						Group						Group						Services						Eliminations						Incorporated
Net sales:
Vehicle service professionals						$	42.8					$	1,060.1					$	745.8					$	—					$	—					$	1,848.7
All other professionals						525.6						—						—						—						—						525.6
External net sales						568.4						1,060.1						745.8						—						—						2,374.3
Intersegment net sales						159.6						—						152.8						—						(312.4)						—
Total net sales						728.0						1,060.1						898.6						—						(312.4)						2,374.3
Financial services revenue						—						—						—						186.0						—						186.0
Total revenue						$	728.0					$	1,060.1					$	898.6					$	186.0					$	(312.4)					$	2,560.3

X

- Definition

Tabular disclosure of disaggregation of revenue into categories depicting how nature, amount, timing, and uncertainty of revenue and cash flows are affected by economic factor.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-5

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- References

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