v3.25.4

Receivables (Tables)

12 Months Ended

Jan. 03, 2026

Receivables [Abstract]

Schedule of Components of Trade and Other Accounts Receivable

The components of Snap-on’s trade and other accounts receivable as of 2025 and 2024 year end are as follows:

(Amounts in millions)			2025						2024
Trade and other accounts receivable			$	921.8					$	852.7
Allowances for credit losses			(40.4)						(37.1)
Total trade and other accounts receivable – net			$	881.4					$	815.6

Schedule of Rollforward of Allowances for Credit Losses Related to Trade and Other Accounts Receivable

The following is a rollforward of the allowances for credit losses related to trade and other accounts receivable for 2025 and 2024:

(Amounts in millions)			2025						2024
Allowances for credit losses:
Beginning of year			$	37.1					$	34.9
Provisions for credit losses			18.3						20.2
Charge-offs			(16.3)						(16.8)
Recoveries			0.4						0.2
Currency translation			0.9						(1.4)
End of year			$	40.4					$	37.1

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 2025 and 2024 year end are as follows:

(Amounts in millions)			2025						2024
Finance installment receivables			$	588.0					$	616.0
Finance lease receivables, net of unearned finance charges of $9.2 million and $6.5 million, respectively			25.0						17.1
Total finance receivables			613.0						633.1
Contract installment receivables			69.6						61.7
Contract lease receivables, net of unearned finance charges of $21.4 million and $21.9 million, respectively			62.4						60.0
Total contract receivables			132.0						121.7
Total			745.0						754.8
Allowances for credit losses:
Finance installment receivables			(22.3)						(22.5)
Finance lease receivables			(0.5)						(0.3)
Total finance allowances for credit losses			(22.8)						(22.8)
Contract installment receivables			(1.0)						(0.9)
Contract lease receivables			(1.0)						(0.8)
Total contract allowances for credit losses			(2.0)						(1.7)
Total allowances for credit losses			(24.8)						(24.5)
Total current finance and contract receivables – net			$	720.2					$	730.3
Finance receivables – net			$	590.2					$	610.3
Contract receivables – net			130.0						120.0
Total current finance and contract receivables – net			$	720.2					$	730.3

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

(Amounts in millions)			2025						2024
Finance installment receivables			$	1,313.8					$	1,337.5
Finance lease receivables, net of unearned finance charges of $8.4 million and $5.7 million, respectively			35.7						24.1
Total finance receivables			1,349.5						1,361.6
Contract installment receivables			232.2						223.0
Contract lease receivables, net of unearned finance charges of $34.7 million and $36.3 million, respectively			196.2						200.4
Total contract receivables			428.4						423.4
Total			1,777.9						1,785.0
Allowances for credit losses:
Finance installment receivables			(50.1)						(49.2)
Finance lease receivables			(0.6)						(0.4)
Total finance allowances for credit losses			(50.7)						(49.6)
Contract installment receivables			(3.2)						(3.3)
Contract lease receivables			(2.1)						(1.8)
Total contract allowances for credit losses			(5.3)						(5.1)
Total allowances for credit losses			(56.0)						(54.7)
Total long-term finance and contract receivables – net			$	1,721.9					$	1,730.3
Finance receivables – net			$	1,298.8					$	1,312.0
Contract receivables – net			423.1						418.3
Total long-term finance and contract receivables – net			$	1,721.9					$	1,730.3

Long-term finance and contract receivables installments, net of unearned finance charges, as of 2025 and 2024 year end are scheduled as follows:

						2025												2024
(Amounts in millions)						Finance Receivables						Contract Receivables						Finance Receivables						Contract Receivables
Due in Months:
13 – 24						$	503.5					$	101.6					$	502.8					$	98.1
25 – 36						409.2						90.5						413.2						87.7
37 – 48						284.6						74.4						291.7						74.6
49 – 60						152.2						57.2						153.9						58.8
Thereafter						—						104.7						—						104.2
Total						$	1,349.5					$	428.4					$	1,361.6					$	423.4

Schedule of Amortized Cost Basis of Finance and Contract Receivables

The amortized cost basis of finance and contract receivables by origination year as of 2025 year end and charge-offs recorded in 2025 by origination year, are as follows:

(Amounts in millions)			2025						2024						2023						2022						2021						Prior						Total
Finance Receivables:
Delinquent			$	20.6					$	25.5					$	14.4					$	5.6					$	2.2					$	0.9					$	69.2
Non-delinquent			1,212.1						431.5						177.0						57.4						13.1						2.2						1,893.3
Total finance receivables			$	1,232.7					$	457.0					$	191.4					$	63.0					$	15.3					$	3.1					$	1,962.5
Finance receivables charge-offs			$	5.7					$	33.2					$	23.0					$	10.0					$	3.9					$	7.1					$	82.9
Contract receivables:
Delinquent			$	0.3					$	1.3					$	1.0					$	0.6					$	0.2					$	0.1					$	3.5
Non-delinquent			198.1						137.6						93.7						58.9						33.4						35.2						556.9
Total contract receivables			$	198.4					$	138.9					$	94.7					$	59.5					$	33.6					$	35.3					$	560.4
Contract receivables charge-offs			$	—					$	0.3					$	1.2					$	0.9					$	0.3					$	0.5					$	3.2

Schedule of Rollforward of Allowances for Credit Losses for Finance and Contract Receivables

The following is a rollforward of the allowances for credit losses for finance and contract receivables for 2025 and 2024: 

						2025												2024
(Amounts in millions)						Finance Receivables						Contract Receivables						Finance Receivables						Contract Receivables
Allowances for credit losses:
Beginning of year						$	72.4					$	6.8					$	67.8					$	6.7
Provisions for credit losses						72.9						3.0						71.1						2.6
Charge-offs						(82.9)						(3.2)						(75.6)						(3.0)
Recoveries						10.8						0.6						9.3						0.5
Currency translation						0.3						0.1						(0.2)						—
End of year						$	73.5					$	7.3					$	72.4					$	6.8

Schedule of Aging of Finance and Contract Receivables

The aging of finance and contract receivables as of 2025 and 2024 year end 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
2025 year end:
Finance receivables						$	25.6					$	15.7					$	27.9					$	69.2					$	1,893.3					$	1,962.5					$	23.7
Contract receivables						1.4						0.7						1.4						3.5						556.9						560.4						0.4
2024 year end:
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 2025 and 2024 year end is as follows: 

(Amounts in millions)						2025						2024
Finance receivables						$	13.1					$	11.3
Contract receivables						2.6						2.5

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