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Segments (Tables)

6 Months Ended

Jun. 28, 2025

Segment Reporting [Abstract]

Schedule of Net Sales by Segment

Financial Data by Segment:

			Three Months Ended June 28, 2025
			Commercial &						Snap-on						Repair Systems
			Industrial						Tools						& Information						Financial						Total
(Amounts in millions)			Group						Group						Group						Services						Segments
External net sales			$	289.2					$	491.0					$	399.2					$	—					$	1,179.4
Intersegment net sales			58.6						—						69.4						—						128.0
Segment net sales			347.8						491.0						468.6						—						1,307.4
Segment cost of goods sold			(208.6)						(253.8)						(249.5)						—						(711.9)
Segment gross profit			139.2						237.2						219.1						—						595.5
Financial services revenue			—						—						—						101.7						101.7
Segment operating and financial services expenses
Personnel			(55.8)						(46.8)						(64.9)						(9.1)
Shipping and handling costs			(7.6)						(19.9)						—						—
Depreciation and amortization			(1.6)						(1.9)						(4.5)						(0.2)
Provisions for credit losses			—						—						—						(19.0)
Other segment expenses*			(27.3)						(51.9)						(29.9)						(5.2)
Total segment operating and financial services expenses			(92.3)						(120.5)						(99.3)						(33.5)						(345.6)
Segment operating earnings			$	46.9					$	116.7					$	119.8					$	68.2					$	351.6
Reconciliation of segment net sales to total net sales and total revenues:
Segment net sales																											$	1,307.4
Intersegment eliminations																											(128.0)
Total net sales																											1,179.4
Financial services revenue																											101.7
Total revenues																											$	1,281.1
Reconciliation of segment cost of goods sold to cost of goods sold:
Segment cost of goods sold																											$	(711.9)
Intersegment eliminations																											128.0
Cost of goods sold																											$	(583.9)
Reconciliation of segment operating earnings to operating earnings and earnings before income taxes:
Segment operating earnings																											$	351.6
Corporate operating expenses																											(24.3)
Operating earnings																											327.3
Interest expense																											(12.3)
Other income (expense) – net																											14.3
Earnings before income taxes																											$	329.3

*

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):

			Six Months Ended June 28, 2025
			Commercial &						Snap-on						Repair Systems
			Industrial						Tools						& Information						Financial						Total
(Amounts in millions)			Group						Group						Group						Services						Segments
External net sales			$	565.9					$	953.9					$	800.7					$	—					$	2,320.5
Intersegment net sales			125.8						—						143.8						—						269.6
Segment net sales			691.7						953.9						944.5						—						2,590.1
Segment cost of goods sold			(406.0)						(502.2)						(507.9)						—						(1,416.1)
Segment gross profit			285.7						451.7						436.6						—						1,174.0
Financial services revenue			—						—						—						203.8						203.8
Segment operating and financial services expenses
Personnel			(111.7)						(95.2)						(130.0)						(17.9)
Shipping and handling costs			(15.1)						(38.4)						—						—
Depreciation and amortization			(3.4)						(3.7)						(9.0)						(0.4)
Provisions for credit losses			—						—						—						(38.1)
Other segment expenses*			(55.4)						(105.3)						(55.7)						(8.9)
Total segment operating and financial services expenses			(185.6)						(242.6)						(194.7)						(65.3)						(688.2)
Segment operating earnings			$	100.1					$	209.1					$	241.9					$	138.5					$	689.6
Reconciliation of segment net sales to total net sales and total revenues:
Segment net sales																											$	2,590.1
Intersegment eliminations																											(269.6)
Total net sales																											2,320.5
Financial services revenue																											203.8
Total revenues																											$	2,524.3
Reconciliation of segment cost of goods sold to cost of goods sold:
Segment cost of goods sold																											$	(1,416.1)
Intersegment eliminations																											269.6
Cost of goods sold																											$	(1,146.5)
Reconciliation of segment operating earnings to operating earnings and earnings before income taxes:
Segment operating earnings																											$	689.6
Corporate operating expenses																											(48.9)
Operating earnings																											640.7
Interest expense																											(24.7)
Other income (expense) – net																											28.7
Earnings before income taxes																											$	644.7

*

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):

			Three Months Ended June 29, 2024
			Commercial &						Snap-on						Repair Systems
			Industrial						Tools						& Information						Financial						Total
(Amounts in millions)			Group						Group						Group						Services						Segments
External net sales			$	305.0					$	482.0					$	392.4					$	—					$	1,179.4
Intersegment net sales			67.0						—						62.4						—						129.4
Segment net sales			372.0						482.0						454.8						—						1,308.8
Segment cost of goods sold			(216.7)						(246.8)						(248.0)						—						(711.5)
Segment gross profit			155.3						235.2						206.8						—						597.3
Financial services revenue			—						—						—						100.5						100.5
Segment operating and financial services expenses
Personnel			(54.6)						(45.9)						(63.1)						(8.5)
Shipping and handling costs			(7.4)						(21.6)						—						—
Depreciation and amortization			(2.0)						(1.8)						(5.2)						(0.2)
Provisions for credit losses			—						—						—						(17.5)
Other segment expenses*			(29.1)						(51.1)						(24.9)						(4.1)
Total segment operating and financial services expenses			(93.1)						(120.4)						(93.2)						(30.3)						(337.0)
Segment operating earnings			$	62.2					$	114.8					$	113.6					$	70.2					$	360.8
Reconciliation of segment net sales to total net sales and total revenues:
Segment net sales																											$	1,308.8
Intersegment eliminations																											(129.4)
Total net sales																											1,179.4
Financial services revenue																											100.5
Total revenues																											$	1,279.9
Reconciliation of segment cost of goods sold to cost of goods sold:
Segment cost of goods sold																											$	(711.5)
Intersegment eliminations																											129.4
Cost of goods sold																											$	(582.1)
Reconciliation of segment operating earnings to operating earnings and earnings before income taxes:
Segment operating earnings																											$	360.8
Corporate operating expenses																											(10.3)
Operating earnings																											350.5
Interest expense																											(12.3)
Other income (expense) – net																											18.7
Earnings before income taxes																											$	356.9

*

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):

			Six Months Ended June 29, 2024
			Commercial &						Snap-on						Repair Systems
			Industrial						Tools						& Information						Financial						Total
(Amounts in millions)			Group						Group						Group						Services						Segments
External net sales			$	596.0					$	982.1					$	783.6					$	—					$	2,361.7
Intersegment net sales			135.9						—						135.0						—						270.9
Segment net sales			731.9						982.1						918.6						—						2,632.6
Segment cost of goods sold			(429.9)						(505.8)						(502.9)						—						(1,438.6)
Segment gross profit			302.0						476.3						415.7						—						1,194.0
Financial services revenue			—						—						—						200.1						200.1
Segment operating and financial services expenses
Personnel			(109.7)						(95.1)						(127.3)						(17.2)
Shipping and handling costs			(13.5)						(44.2)						—						—
Depreciation and amortization			(4.1)						(3.7)						(10.6)						(0.5)
Provisions for credit losses			—						—						—						(36.3)
Other segment expenses*			(57.1)						(101.2)						(51.3)						(7.6)
Total segment operating and financial services expenses			(184.4)						(244.2)						(189.2)						(61.6)						(679.4)
Segment operating earnings			$	117.6					$	232.1					$	226.5					$	138.5					$	714.7
Reconciliation of segment net sales to total net sales and total revenues:
Segment net sales																											$	2,632.6
Intersegment eliminations																											(270.9)
Total net sales																											2,361.7
Financial services revenue																											200.1
Total revenues																											$	2,561.8
Reconciliation of segment cost of goods sold to cost of goods sold:
Segment cost of goods sold																											$	(1,438.6)
Intersegment eliminations																											270.9
Cost of goods sold																											$	(1,167.7)
Reconciliation of segment operating earnings to operating earnings and earnings before income taxes:
Segment operating earnings																											$	714.7
Corporate operating expenses																											(25.0)
Operating earnings																											689.7
Interest expense																											(24.8)
Other income (expense) – net																											36.8
Earnings before income taxes																											$	701.7

*

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):

(Amounts in millions)						June 28, 2025						December 28, 2024
Assets:
Commercial & Industrial Group						$	1,303.7					$	1,230.8
Snap-on Tools Group						965.7						937.5
Repair Systems & Information Group						1,759.8						1,695.5
Financial Services						2,508.0						2,491.9
Total assets from reportable segments						6,537.2						6,355.7
Corporate						1,744.4						1,633.0
Elimination of intersegment receivables						(79.8)						(91.9)
Total assets						$	8,201.8					$	7,896.8

X

- Definition

Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 25
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-25

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-22

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-30

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X

- References

No definition available.

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