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Revenue Recognition (Tables)

9 Months Ended

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

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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