Property and Equipment

12 Months Ended

Jan. 03, 2026

Property, Plant and Equipment [Abstract]

Property and equipment (which are carried at cost) as of 2025 and 2024 year end are as follows:


(Amounts in millions)	2025		2024
Land	$	35.8	$	33.7
Buildings and improvements	470.3		462.6
Machinery, equipment and computer software	1,142.7		1,103.7
Property and equipment – gross	1,648.8		1,600.0
Accumulated depreciation	(1,096.5)		(1,057.4)
Property and equipment – net	$	552.3	$	542.6

The estimated service lives of property and equipment are principally as follows:


Buildings and improvements						3 to 50 years
Machinery, equipment and computer software						2 to 15 years

Depreciation expense was $75.8 million, $72.7 million and $72.2 million in 2025, 2024 and 2023, respectively.

In the fourth quarter of 2025, as part of footprint actions in the Commercial & Industrial Group, Snap-on entered into an agreement with a local government to sell a building in response to that government’s larger rezoning activities, resulting in a gain, net of related expenses, of $15.9 million during the period. The company also anticipates an incremental net benefit in 2026 upon completion of the provisions outlined in the agreement. The net gain is recorded within “Operating expenses” in the accompanying Consolidated Statements of Earnings for the year ended January 3, 2026.