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Segments (Tables)

12 Months Ended

Dec. 28, 2024

Segment Reporting [Abstract]

Schedule of Net Sales by Segment

Financial Data by Segment:

			2024
			Commercial &						Snap-on						Repair Systems
			Industrial						Tools						& Information						Financial						Total
(Amounts in millions)			Group						Group						Group						Services						Segments
External net sales			$	1,187.6					$	1,989.2					$	1,530.6					$	—					$	4,707.4
Intersegment net sales			289.2						—						267.3						—						556.5
Segment net sales			1,476.8						1,989.2						1,797.9						—						5,263.9
Segment cost of goods sold			(868.6)						(1,050.3)						(967.1)						—						(2,886.0)
Segment gross profit			608.2						938.9						830.8						—						2,377.9
Financial services revenue			—						—						—						401.0						401.0
Segment operating and financial services expenses
Personnel			(218.8)						(191.7)						(253.9)						(34.7)
Shipping and handling costs			(27.8)						(87.7)						—						—
Depreciation and amortization			(7.8)						(7.5)						(20.8)						(1.0)
Provisions for credit losses			—						—						—						(73.7)
Other segment expenses*			(111.7)						(204.7)						(100.9)						(14.7)
Total segment operating and financial services expenses			(366.1)						(491.6)						(375.6)						(124.1)						(1,357.4)
Segment operating earnings			$	242.1					$	447.3					$	455.2					$	276.9					$	1,421.5
Reconciliation of segment net sales to total net sales and total revenues:
Segment net sales																											$	5,263.9
Intersegment eliminations																											(556.5)
Total net sales																											4,707.4
Financial services revenue																											401.0
Total revenues																											$	5,108.4
Reconciliation of segment cost of goods sold to cost of goods sold:
Segment cost of goods sold																											$	(2,886.0)
Intersegment eliminations																											556.5
Cost of goods sold																											$	(2,329.5)
Reconciliation of segment operating earnings to operating earnings and
earnings before income taxes:
Segment operating earnings																											$	1,421.5
Corporate operating expenses																											(75.8)
Operating earnings																											1,345.7
Interest expense																											(49.6)
Other income (expense) – net																											77.0
Earnings before income taxes																											$	1,373.1

*

Other segment expenses primarily include:

Commercial & Industrial Group - shared service allocations; technology, travel and marketing expenses.

Snap-on Tools Group - franchisee support costs, shared service allocations and technology expenses.

Repair Systems & Information Group - technology, travel, professional fee and marketing expenses; shared service allocations.

Financial Services - customer support and technology expenses.

Financial Data by Segment (continued):

			2023
			Commercial &						Snap-on						Repair Systems
			Industrial						Tools						& Information						Financial						Total
(Amounts in millions)			Group						Group						Group						Services						Segments
External net sales			$	1,145.6					$	2,088.8					$	1,495.8					$	—					$	4,730.2
Intersegment net sales			312.7						—						285.4						—						598.1
Segment net sales			1,458.3						2,088.8						1,781.2						—						5,328.3
Segment cost of goods sold			(887.5)						(1,107.7)						(984.0)						—						(2,979.2)
Segment gross profit			570.8						981.1						797.2						—						2,349.1
Financial services revenue			—						—						—						378.1						378.1
Segment operating and financial services expenses
Personnel			(207.7)						(199.9)						(248.9)						(34.7)
Shipping and handling and other freight expenses			(24.7)						(93.3)						—						—
Depreciation and amortization			(7.5)						(7.5)						(24.4)						(0.9)
Provisions for credit losses			—						—						—						(59.1)
Other segment expenses*			(104.8)						(186.6)						(90.7)						(12.9)
Total segment operating and financial services expenses			(344.7)						(487.3)						(364.0)						(107.6)						(1,303.6)
Segment operating earnings			$	226.1					$	493.8					$	433.2					$	270.5					$	1,423.6
Reconciliation of segment net sales to total net sales and total revenues:
Segment net sales																											$	5,328.3
Intersegment eliminations																											(598.1)
Total net sales																											4,730.2
Financial services revenue																											378.1
Total revenues																											$	5,108.3
Reconciliation of segment cost of goods sold to cost of goods sold:
Segment cost of goods sold																											$	(2,979.2)
Intersegment eliminations																											598.1
Cost of goods sold																											$	(2,381.1)
Reconciliation of segment operating earnings to operating earnings and
earnings before income taxes:
Segment operating earnings																											$	1,423.6
Corporate operating expenses																											(113.2)
Operating earnings																											1,310.4
Interest expense																											(49.9)
Other income (expense) – net																											67.5
Earnings before income taxes																											$	1,328.0

*

Other segment expenses primarily include:

Commercial & Industrial Group - shared service allocations; technology, travel and marketing expenses.

Snap-on Tools Group - franchisee support costs, shared service allocations and technology expenses.

Repair Systems & Information Group - technology, travel, professional fee and marketing expenses; shared service allocations.

Financial Services - customer support and technology expenses.

Financial Data by Segment (continued):

			2022
			Commercial &						Snap-on						Repair Systems
			Industrial						Tools						& Information						Financial						Total
(Amounts in millions)			Group						Group						Group						Services						Segments
External net sales			$	1,058.3					$	2,072.0					$	1,362.5					$	—					$	4,492.8
Intersegment net sales			340.9						—						304.4						—						645.3
Segment net sales			1,399.2						2,072.0						1,666.9						—						5,138.1
Segment cost of goods sold			(880.5)						(1,141.7)						(934.8)						—						(2,957.0)
Segment gross profit			518.7						930.3						732.1						—						2,181.1
Financial services revenue			—						—						—						349.7						349.7
Segment operating and financial services expenses
Personnel			(194.2)						(199.0)						(234.0)						(32.6)
Shipping and handling and other freight expenses			(24.2)						(90.2)						—						—
Depreciation and amortization			(7.4)						(9.0)						(24.3)						(0.9)
Provisions for credit losses			—						—						—						(38.2)
Other segment expenses*			(95.3)						(173.4)						(80.5)						(12.0)
Total segment operating and financial services expenses			(321.1)						(471.6)						(338.8)						(83.7)						(1,215.2)
Segment operating earnings			$	197.6					$	458.7					$	393.3					$	266.0					$	1,315.6
Reconciliation of segment net sales to total net sales and total revenues:
Segment net sales																											$	5,138.1
Intersegment eliminations																											(645.3)
Total net sales																											4,492.8
Financial services revenue																											349.7
Total revenues																											$	4,842.5
Reconciliation of segment cost of goods sold to cost of goods sold:
Segment cost of goods sold																											$	(2,957.0)
Intersegment eliminations																											645.3
Cost of goods sold																											$	(2,311.7)
Reconciliation of segment operating earnings to operating earnings and
earnings before income taxes:
Segment operating earnings																											$	1,315.6
Corporate operating expenses																											(108.4)
Operating earnings																											1,207.2
Interest expense																											(47.1)
Other income (expense) – net																											42.5
Earnings before income taxes																											$	1,202.6

*

Other segment expenses primarily include:

Commercial & Industrial Group - shared service allocations; technology, travel and marketing expenses.

Snap-on Tools Group - franchisee support costs, shared service allocations and technology expenses.

Repair Systems & Information Group - technology, travel, professional fee, and marketing expenses; shared service allocations.

Financial Services - customer support and technology expenses.

Schedule of Capital Expenditures, Depreciation and Amortization

Financial Data by Segment (continued):

(Amounts in millions)						2024						2023						2022
Capital expenditures:
Commercial & Industrial Group						$	19.4					$	22.5					$	26.0
Snap-on Tools Group						39.6						46.1						35.0
Repair Systems & Information Group						22.2						20.3						18.3
Financial Services						0.6						1.8						1.1
Total from reportable segments						81.8						90.7						80.4
Corporate						1.7						4.3						3.8
Total capital expenditures						$	83.5					$	95.0					$	84.2
Depreciation and amortization:
Commercial & Industrial Group						$	25.3					$	25.7					$	26.1
Snap-on Tools Group						30.5						29.3						29.3
Repair Systems & Information Group						37.0						39.4						40.1
Financial Services						1.0						0.9						0.9
Total from reportable segments						93.8						95.3						96.4
Corporate						4.2						4.0						3.8
Total depreciation and amortization						$	98.0					$	99.3					$	100.2

Schedule of Revenue and Long-Lived Assets, Geographic Regions

Revenues by geographic region:*
United States						$	3,640.9					$	3,664.3					$	3,465.4
Europe						793.8						760.9						723.3
All other						673.7						683.1						653.8
Total revenues						$	5,108.4					$	5,108.3					$	4,842.5
(Amounts in millions)												2024						2023
Assets:
Commercial & Industrial Group												$	1,230.8					$	1,293.7
Snap-on Tools Group												937.5						941.8
Repair Systems & Information Group												1,695.5						1,680.0
Financial Services												2,491.9						2,430.0
Total assets from reportable segments												6,355.7						6,345.5
Corporate												1,633.0						1,285.0
Elimination of intersegment receivables												(91.9)						(85.6)
Total assets												$	7,896.8					$	7,544.9
Long-lived assets:**
United States												$	412.7					$	394.2
Europe												163.9						172.1
All other												55.4						47.7
Total long-lived assets												$	632.0					$	614.0

*			Revenues are attributed to countries based on origin of the sale.
**			Long-lived assets consist of Property and equipment – net and Operating lease right-of-use assets.

Schedule of Products and Services

The following table shows the consolidated net sales and revenues of these product groups in the last three years:

(Amounts in millions)						2024						2023						2022
Net sales:
Tools						$	2,546.2					$	2,528.9					$	2,399.4
Diagnostics, information and management systems						1,028.1						991.2						942.4
Equipment						1,133.1						1,210.1						1,151.0
Total net sales						4,707.4						4,730.2						4,492.8
Financial services revenue						401.0						378.1						349.7
Total revenues						$	5,108.4					$	5,108.3					$	4,842.5

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