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Receivables (Tables)

6 Months Ended

Jun. 28, 2025

Receivables [Abstract]

Schedule of Components of Trade and Other Accounts Receivable

The components of Snap-on’s trade and other accounts receivable as of June 28, 2025, and December 28, 2024, are as follows:

(Amounts in millions)			June 28, 2025						December 28, 2024
Trade and other accounts receivable			$	882.7					$	852.7
Allowances for credit losses			(40.3)						(37.1)
Total trade and other accounts receivable – net			$	842.4					$	815.6

Schedule of Allowance for Credit Losses on Receivables

The following is a rollforward of the allowances for credit losses related to trade and other accounts receivable for the three and six month periods ended June 28, 2025, and June 29, 2024:

			Three Months Ended												Six Months Ended
(Amounts in millions)			June 28, 2025						June 29, 2024						June 28, 2025						June 29, 2024
Allowances for credit losses:
Beginning of period			$	39.2					$	35.9					$	37.1					$	34.9
Provisions for credit losses			3.2						6.6						8.1						10.9
Charge-offs			(3.0)						(5.6)						(6.3)						(8.6)
Recoveries			0.3						—						0.4						0.1
Currency translation			0.6						(0.4)						1.0						(0.8)
End of period			$	40.3					$	36.5					$	40.3					$	36.5

Schedule of Components of Finance and Contract Receivables, Current and Beyond One Year

The components of Snap-on’s current finance and contract receivables as of June 28, 2025, and December 28, 2024, are as follows:

(Amounts in millions)			June 28, 2025						December 28, 2024
Finance installment receivables			$	631.2					$	616.0
Finance lease receivables, net of unearned finance charges of $8.4 million and $6.5 million, respectively			21.8						17.1
Total finance receivables			653.0						633.1
Contract installment receivables			54.6						61.7
Contract lease receivables, net of unearned finance charges of $22.1 million and $21.9 million, respectively			61.4						60.0
Total contract receivables			116.0						121.7
Total			769.0						754.8
Allowances for credit losses:
Finance installment receivables			(23.4)						(22.5)
Finance lease receivables			(0.4)						(0.3)
Total finance allowances for credit losses			(23.8)						(22.8)
Contract installment receivables			(0.9)						(0.9)
Contract lease receivables			(0.9)						(0.8)
Total contract allowances for credit losses			(1.8)						(1.7)
Total allowances for credit losses			(25.6)						(24.5)
Total current finance and contract receivables – net			$	743.4					$	730.3
Finance receivables – net			$	629.2					$	610.3
Contract receivables – net			114.2						120.0
Total current finance and contract receivables – net			$	743.4					$	730.3

The components of Snap-on’s finance and contract receivables with payment terms beyond one year as of June 28, 2025, and December 28, 2024, are as follows: 

(Amounts in millions)			June 28, 2025						December 28, 2024
Finance installment receivables			$	1,324.2					$	1,337.5
Finance lease receivables, net of unearned finance charges of $7.3 million and $5.7 million, respectively			31.3						24.1
Total finance receivables			1,355.5						1,361.6
Contract installment receivables			229.6						223.0
Contract lease receivables, net of unearned finance charges of $36.0 million and $36.3 million, respectively			200.3						200.4
Total contract receivables			429.9						423.4
Total			1,785.4						1,785.0
Allowances for credit losses:
Finance installment receivables			(49.6)						(49.2)
Finance lease receivables			(0.6)						(0.4)
Total finance allowances for credit losses			(50.2)						(49.6)
Contract installment receivables			(3.4)						(3.3)
Contract lease receivables			(2.2)						(1.8)
Total contract allowances for credit losses			(5.6)						(5.1)
Total allowances for credit losses			(55.8)						(54.7)
Total long-term finance and contract receivables – net			$	1,729.6					$	1,730.3
Finance receivables – net			$	1,305.3					$	1,312.0
Contract receivables – net			424.3						418.3
Total long-term finance and contract receivables – net			$	1,729.6					$	1,730.3

Schedule of Financing Receivable Credit Quality Indicators

The amortized cost basis of finance and contract receivables by origination year as of June 28, 2025, and charge-offs recorded in the six months ended June 28, 2025, by origination year, are as follows:

(Amounts in millions)			2025						2024						2023						2022						2021						Prior						Total
Finance receivables:
Delinquent			$	4.8					$	27.6					$	17.5					$	7.4					$	3.1					$	1.7					$	62.1
Non-delinquent			824.8						715.7						276.3						95.1						27.5						7.0						1,946.4
Total finance receivables			$	829.6					$	743.3					$	293.8					$	102.5					$	30.6					$	8.7					$	2,008.5
Finance receivables charge-offs			$	0.2					$	15.4					$	12.7					$	5.9					$	2.4					$	3.9					$	40.5
Contract receivables:
Delinquent			$	0.1					$	1.2					$	1.1					$	0.8					$	0.2					$	0.1					$	3.5
Non-delinquent			101.1						164.7						112.9						72.7						43.7						47.3						542.4
Total contract receivables			$	101.2					$	165.9					$	114.0					$	73.5					$	43.9					$	47.4					$	545.9
Contract receivables charge-offs			$	—					$	0.1					$	0.4					$	0.3					$	0.2					$	0.4					$	1.4

Schedule of Financing Receivable, Allowance for Credit Loss

The following is a rollforward of the allowances for credit losses for finance and contract receivables for the three and six month periods ended June 28, 2025, and June 29, 2024:

 

			Three Months Ended June 28, 2025												Six Months Ended June 28, 2025
(Amounts in millions)			Finance Receivables						Contract Receivables						Finance Receivables						Contract Receivables
Allowances for credit losses:
Beginning of period			$	73.1					$	7.3					$	72.4					$	6.8
Provisions for credit losses			18.3						0.7						36.5						1.6
Charge-offs			(20.5)						(0.8)						(40.5)						(1.4)
Recoveries			2.9						0.2						5.3						0.3
Currency translation			0.2						—						0.3						0.1
End of period			$	74.0					$	7.4					$	74.0					$	7.4

			Three Months Ended June 29, 2024												Six Months Ended June 29, 2024
(Amounts in millions)			Finance Receivables						Contract Receivables						Finance Receivables						Contract Receivables
Allowances for credit losses:
Beginning of period			$	69.8					$	6.8					$	67.8					$	6.7
Provisions for credit losses			17.2						0.3						35.4						0.9
Charge-offs			(18.7)						(0.4)						(37.0)						(1.0)
Recoveries			2.8						0.1						5.0						0.2
Currency translation			—						—						(0.1)						—
End of period			$	71.1					$	6.8					$	71.1					$	6.8

Schedule of Aging of Finance and Contract Receivables

The aging of finance and contract receivables as of June 28, 2025, and December 28, 2024, is as follows:

(Amounts in millions)			30-59 Days Past Due						60-90 Days Past Due						Greater Than 90 Days Past Due						Total Past Due						Total Not Past Due						Total						Greater Than 90 Days Past Due and Accruing
June 28, 2025:
Finance receivables			$	23.2					$	14.1					$	24.8					$	62.1					$	1,946.4					$	2,008.5					$	21.0
Contract receivables			1.7						1.0						0.8						3.5						542.4						545.9						0.1
December 28, 2024:
Finance receivables			$	26.6					$	14.8					$	26.7					$	68.1					$	1,926.6					$	1,994.7					$	23.0
Contract receivables			0.9						0.5						1.0						2.4						542.7						545.1						0.2

Schedule of Finance and Contract Receivables on Nonaccrual Status

The amount of finance and contract receivables on nonaccrual status as of June 28, 2025, and December 28, 2024, is as follows:

(Amounts in millions)			June 28, 2025						December 28, 2024
Finance receivables			$	12.7					$	11.3
Contract receivables			2.7						2.5

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Tabular disclosure of financing receivables by credit quality indicator. The credit quality indicator is a statistic about the credit quality of financing receivables. Examples include, but not limited to, consumer credit risk scores, credit-rating-agency ratings, an entity's internal credit risk grades, loan-to-value ratios, collateral, collection experience and other internal metrics.

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Tabular disclosure of the various types of trade accounts and notes receivable and for each the gross carrying value, allowance, and net carrying value as of the balance sheet date. Presentation is categorized by current, noncurrent and unclassified receivables.

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