| Schedule of Net Sales by Segment |
Financial Data by Segment: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 2025 | | Commercial & | | Snap-on | | Repair Systems | | | | | | Industrial | | Tools | | & Information | | Financial | | Total | | (Amounts in millions) | Group | | Group | | Group | | Services | | Segments | | External net sales | $ | 1,185.7 | | | $ | 1,964.9 | | | $ | 1,592.6 | | | $ | — | | | $ | 4,743.2 | | | Intersegment net sales | 271.8 | | | — | | | 284.5 | | | — | | | 556.3 | | | Segment net sales | 1,457.5 | | | 1,964.9 | | | 1,877.1 | | | — | | | 5,299.5 | | | Segment cost of goods sold | (867.8) | | | (1,043.8) | | | (1,002.5) | | | — | | | (2,914.1) | | | Segment gross profit | 589.7 | | | 921.1 | | | 874.6 | | | — | | | 2,385.4 | | | Financial services revenue | — | | | — | | | — | | | 412.9 | | | 412.9 | | | Segment operating and financial services expenses | | | | | | | | | | | Personnel | (225.6) | | | (194.8) | | | (260.9) | | | (36.7) | | | | | Shipping and handling costs | (30.8) | | | (77.2) | | | — | | | — | | | | | Depreciation and amortization | (6.6) | | | (7.5) | | | (19.0) | | | (0.8) | | | | | Provisions for credit losses | — | | | — | | | — | | | (75.9) | | | | | Other segment expenses* | (108.5) | | | (215.3) | | | (93.9) | | | (17.7) | | | | | Total segment operating and financial services expenses | (371.5) | | | (494.8) | | | (373.8) | | | (131.1) | | | (1,371.2) | | | Segment operating earnings | $ | 218.2 | | | $ | 426.3 | | | $ | 500.8 | | | $ | 281.8 | | | $ | 1,427.1 | | | | | | | | | | | | | Reconciliation of segment net sales to total net sales and total revenues: | | | | | | | | Segment net sales | | | | | | | | | $ | 5,299.5 | | | Intersegment eliminations | | | | | | | | | (556.3) | | | Total net sales | | | | | | | | | 4,743.2 | | | Financial services revenue | | | | | | | | | 412.9 | | | Total revenues | | | | | | | | | $ | 5,156.1 | | | | | | | | | | | | | Reconciliation of segment cost of goods sold to cost of goods sold: | | | | | | | | Segment cost of goods sold | | | | | | | | | $ | (2,914.1) | | | Intersegment eliminations | | | | | | | | | 556.3 | | | Cost of goods sold | | | | | | | | | $ | (2,357.8) | | | | | | | | | | | | | Reconciliation of segment operating earnings to operating earnings and | | | | | | earnings before income taxes: | | | | | | | | | | | Segment operating earnings | | | | | | | | | $ | 1,427.1 | | | Corporate operating expenses | | | | | | | | | (99.4) | | | Operating earnings | | | | | | | | | 1,327.7 | | | Interest expense | | | | | | | | | (50.5) | | | Other income (expense) – net | | | | | | | | | 58.7 | | | Earnings before income taxes | | | | | | | | | $ | 1,335.9 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | * | Other segment expenses primarily include: | | | | | Commercial & Industrial Group - shared service allocations; technology, travel and marketing expenses. Also included are a $15.9 million net benefit related to the sale of a building, partially offset by an $8.9 million charge for the retirement of trademarks and $2.5 million of restructuring costs (collectively the “2025 footprint actions”), resulting in a net benefit of $4.5 million. | | Snap-on Tools Group - franchisee support costs, shared service allocations and technology expenses. | | Repair Systems & Information Group - technology, travel, marketing and professional-fee expenses; shared service allocations and a $22.0 million benefit for the 2025 legal settlement. | | Financial Services - customer support and technology expenses. |
Financial Data by Segment (continued): | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 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. |
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| Schedule of Revenue and Long-Lived Assets, Geographic Regions |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | Revenues by geographic region:* | | | | | | | | United States | | $ | 3,635.3 | | | $ | 3,640.9 | | | $ | 3,664.3 | | | Europe | | 825.5 | | | 793.8 | | | 760.9 | | | All other | | 695.3 | | | 673.7 | | | 683.1 | | | Total revenues | | $ | 5,156.1 | | | $ | 5,108.4 | | | $ | 5,108.3 | | | | | | | | | | (Amounts in millions) | | 2025 | | 2024 | | Assets: | | | | | | Commercial & Industrial Group | | $ | 1,318.1 | | | $ | 1,230.8 | | | Snap-on Tools Group | | 972.1 | | | 937.5 | | | Repair Systems & Information Group | | 1,784.3 | | | 1,695.5 | | | Financial Services | | 2,477.2 | | | 2,491.9 | | | Total assets from reportable segments | | 6,551.7 | | | 6,355.7 | | | Corporate | | 1,946.3 | | | 1,633.0 | | | Elimination of intersegment receivables | | (85.7) | | | (91.9) | | | Total assets | | $ | 8,412.3 | | | $ | 7,896.8 | | | | | | | | | | Long-lived assets:** | | | | | | United States | | $ | 401.5 | | | $ | 412.7 | | | Europe | | 186.9 | | | 163.9 | | | All other | | 47.6 | | | 55.4 | | | Total long-lived assets | | $ | 636.0 | | | $ | 632.0 | |
| | | | | | | | | | | | | | | | | | | | * | 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. |
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| 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) | | 2025 | | 2024 | | 2023 | | Net sales: | | | | | | | | Tools | | $ | 2,541.9 | | | $ | 2,546.2 | | | $ | 2,528.9 | | | Diagnostics, information and management systems | | 1,112.2 | | | 1,028.1 | | | 991.2 | | | Equipment | | 1,089.1 | | | 1,133.1 | | | 1,210.1 | | | Total net sales | | 4,743.2 | | | 4,707.4 | | | 4,730.2 | | | Financial services revenue | | 412.9 | | | 401.0 | | | 378.1 | | | Total revenues | | $ | 5,156.1 | | | $ | 5,108.4 | | | $ | 5,108.3 | |
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