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v3.24.3

Revenue Recognition (Tables) | 9 Months Ended
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Sep. 28, 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 |  | Nine Months Ended
(Amounts in millions) | September 28, 2024 |  | September 30, 2023 |  | September 28, 2024 |  | September 30, 2023
Revenue from contracts with customers | $ | 1,139.3 |  |  | $ | 1,152.2 |  |  | $ | 3,486.5 |  |  | $ | 3,513.3 |
Other revenues | 7.7 |  |  | 7.1 |  |  | 22.2 |  |  | 20.3 |
Total net sales | 1,147.0 |  |  | 1,159.3 |  |  | 3,508.7 |  |  | 3,533.6 |
Financial services revenue | 100.4 |  |  | 94.9 |  |  | 300.5 |  |  | 280.9 |
Total revenues | $ | 1,247.4 |  |  | $ | 1,254.2 |  |  | $ | 3,809.2 |  |  | $ | 3,814.5 |
The following tables represent external net sales disaggregated by geography, based on the customers’ billing addresses:
|  | For the Three Months Ended September 28, 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* |  | $ | 155.2 |  |  | $ | 434.0 |  |  | $ | 273.9 |  |  | $ | — |  |  | $ | — |  |  | $ | 863.1 |
Europe |  | 72.2 |  |  | 37.4 |  |  | 58.7 |  |  | — |  |  | — |  |  | 168.3 |
All other |  | 61.3 |  |  | 29.1 |  |  | 25.2 |  |  | — |  |  | — |  |  | 115.6 |
External net sales |  | 288.7 |  |  | 500.5 |  |  | 357.8 |  |  | — |  |  | — |  |  | 1,147.0 |
Intersegment net sales |  | 77.0 |  |  | — |  |  | 64.9 |  |  | — |  |  | (141.9) |  |  | — |
Total net sales |  | 365.7 |  |  | 500.5 |  |  | 422.7 |  |  | — |  |  | (141.9) |  |  | 1,147.0 |
Financial services revenue |  | — |  |  | — |  |  | — |  |  | 100.4 |  |  | — |  |  | 100.4 |
Total revenue |  | $ | 365.7 |  |  | $ | 500.5 |  |  | $ | 422.7 |  |  | $ | 100.4 |  |  | $ | (141.9) |  |  | $ | 1,247.4 |
|  | For the Nine Months Ended September 28, 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* |  | $ | 467.3 |  |  | $ | 1,280.7 |  |  | $ | 874.2 |  |  | $ | — |  |  | $ | — |  |  | $ | 2,622.2 |
Europe |  | 230.0 |  |  | 118.4 |  |  | 188.0 |  |  | — |  |  | — |  |  | 536.4 |
All other |  | 187.4 |  |  | 83.5 |  |  | 79.2 |  |  | — |  |  | — |  |  | 350.1 |
External net sales |  | 884.7 |  |  | 1,482.6 |  |  | 1,141.4 |  |  | — |  |  | — |  |  | 3,508.7 |
Intersegment net sales |  | 212.9 |  |  | — |  |  | 199.9 |  |  | — |  |  | (412.8) |  |  | — |
Total net sales |  | 1,097.6 |  |  | 1,482.6 |  |  | 1,341.3 |  |  | — |  |  | (412.8) |  |  | 3,508.7 |
Financial services revenue |  | — |  |  | — |  |  | — |  |  | 300.5 |  |  | — |  |  | 300.5 |
Total revenue |  | $ | 1,097.6 |  |  | $ | 1,482.6 |  |  | $ | 1,341.3 |  |  | $ | 300.5 |  |  | $ | (412.8) |  |  | $ | 3,809.2 |
* North America is comprised of the United States, Canada and Mexico. |  |  |  |  |  |  |  |
|  | For the Three Months Ended September 30, 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* |  | $ | 146.4 |  |  | $ | 451.4 |  |  | $ | 282.0 |  |  | $ | — |  |  | $ | — |  |  | $ | 879.8 |
Europe |  | 69.6 |  |  | 37.5 |  |  | 54.0 |  |  | — |  |  | — |  |  | 161.1 |
All other |  | 64.5 |  |  | 26.5 |  |  | 27.4 |  |  | — |  |  | — |  |  | 118.4 |
External net sales |  | 280.5 |  |  | 515.4 |  |  | 363.4 |  |  | — |  |  | — |  |  | 1,159.3 |
Intersegment net sales |  | 85.9 |  |  | — |  |  | 68.4 |  |  | — |  |  | (154.3) |  |  | — |
Total net sales |  | 366.4 |  |  | 515.4 |  |  | 431.8 |  |  | — |  |  | (154.3) |  |  | 1,159.3 |
Financial services revenue |  | — |  |  | — |  |  | — |  |  | 94.9 |  |  | — |  |  | 94.9 |
Total revenue |  | $ | 366.4 |  |  | $ | 515.4 |  |  | $ | 431.8 |  |  | $ | 94.9 |  |  | $ | (154.3) |  |  | $ | 1,254.2 |
|  | For the Nine Months Ended September 30, 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* |  | $ | 428.3 |  |  | $ | 1,384.6 |  |  | $ | 849.7 |  |  | $ | — |  |  | $ | — |  |  | $ | 2,662.6 |
Europe |  | 220.1 |  |  | 112.2 |  |  | 180.8 |  |  | — |  |  | — |  |  | 513.1 |
All other |  | 200.5 |  |  | 78.7 |  |  | 78.7 |  |  | — |  |  | — |  |  | 357.9 |
External net sales |  | 848.9 |  |  | 1,575.5 |  |  | 1,109.2 |  |  | — |  |  | — |  |  | 3,533.6 |
Intersegment net sales |  | 245.5 |  |  | — |  |  | 221.2 |  |  | — |  |  | (466.7) |  |  | — |
Total net sales |  | 1,094.4 |  |  | 1,575.5 |  |  | 1,330.4 |  |  | — |  |  | (466.7) |  |  | 3,533.6 |
Financial services revenue |  | — |  |  | — |  |  | — |  |  | 280.9 |  |  | — |  |  | 280.9 |
Total revenue |  | $ | 1,094.4 |  |  | $ | 1,575.5 |  |  | $ | 1,330.4 |  |  | $ | 280.9 |  |  | $ | (466.7) |  |  | $ | 3,814.5 |
* 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 September 28, 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 |  | $ | 20.1 |  |  | $ | 500.5 |  |  | $ | 357.8 |  |  | $ | — |  |  | $ | — |  |  | $ | 878.4 |
All other professionals |  | 268.6 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 268.6 |
External net sales |  | 288.7 |  |  | 500.5 |  |  | 357.8 |  |  | — |  |  | — |  |  | 1,147.0 |
Intersegment net sales |  | 77.0 |  |  | — |  |  | 64.9 |  |  | — |  |  | (141.9) |  |  | — |
Total net sales |  | 365.7 |  |  | 500.5 |  |  | 422.7 |  |  | — |  |  | (141.9) |  |  | 1,147.0 |
Financial services revenue |  | — |  |  | — |  |  | — |  |  | 100.4 |  |  | — |  |  | 100.4 |
Total revenue |  | $ | 365.7 |  |  | $ | 500.5 |  |  | $ | 422.7 |  |  | $ | 100.4 |  |  | $ | (141.9) |  |  | $ | 1,247.4 |
|  | For the Nine Months Ended September 28, 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 |  | $ | 61.4 |  |  | $ | 1,482.6 |  |  | $ | 1,141.4 |  |  | $ | — |  |  | $ | — |  |  | $ | 2,685.4 |
All other professionals |  | 823.3 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 823.3 |
External net sales |  | 884.7 |  |  | 1,482.6 |  |  | 1,141.4 |  |  | — |  |  | — |  |  | 3,508.7 |
Intersegment net sales |  | 212.9 |  |  | — |  |  | 199.9 |  |  | — |  |  | (412.8) |  |  | — |
Total net sales |  | 1,097.6 |  |  | 1,482.6 |  |  | 1,341.3 |  |  | — |  |  | (412.8) |  |  | 3,508.7 |
Financial services revenue |  | — |  |  | — |  |  | — |  |  | 300.5 |  |  | — |  |  | 300.5 |
Total revenue |  | $ | 1,097.6 |  |  | $ | 1,482.6 |  |  | $ | 1,341.3 |  |  | $ | 300.5 |  |  | $ | (412.8) |  |  | $ | 3,809.2 |
|  | For the Three Months Ended September 30, 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 |  | $ | 19.4 |  |  | $ | 515.4 |  |  | $ | 363.4 |  |  | $ | — |  |  | $ | — |  |  | $ | 898.2 |
All other professionals |  | 261.1 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 261.1 |
External net sales |  | 280.5 |  |  | 515.4 |  |  | 363.4 |  |  | — |  |  | — |  |  | 1,159.3 |
Intersegment net sales |  | 85.9 |  |  | — |  |  | 68.4 |  |  | — |  |  | (154.3) |  |  | — |
Total net sales |  | 366.4 |  |  | 515.4 |  |  | 431.8 |  |  | — |  |  | (154.3) |  |  | 1,159.3 |
Financial services revenue |  | — |  |  | — |  |  | — |  |  | 94.9 |  |  | — |  |  | 94.9 |
Total revenue |  | $ | 366.4 |  |  | $ | 515.4 |  |  | $ | 431.8 |  |  | $ | 94.9 |  |  | $ | (154.3) |  |  | $ | 1,254.2 |
|  | For the Nine Months Ended September 30, 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 |  | $ | 62.2 |  |  | $ | 1,575.5 |  |  | $ | 1,109.2 |  |  | $ | — |  |  | $ | — |  |  | $ | 2,746.9 |
All other professionals |  | 786.7 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 786.7 |
External net sales |  | 848.9 |  |  | 1,575.5 |  |  | 1,109.2 |  |  | — |  |  | — |  |  | 3,533.6 |
Intersegment net sales |  | 245.5 |  |  | — |  |  | 221.2 |  |  | — |  |  | (466.7) |  |  | — |
Total net sales |  | 1,094.4 |  |  | 1,575.5 |  |  | 1,330.4 |  |  | — |  |  | (466.7) |  |  | 3,533.6 |
Financial services revenue |  | — |  |  | — |  |  | — |  |  | 280.9 |  |  | — |  |  | 280.9 |
Total revenue |  | $ | 1,094.4 |  |  | $ | 1,575.5 |  |  | $ | 1,330.4 |  |  | $ | 280.9 |  |  | $ | (466.7) |  |  | $ | 3,814.5 |

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- 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 + Details
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