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v3.26.1

Receivables (Tables) | 3 Months Ended
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Apr. 04, 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 April 4, 2026, and January 3, 2026, are as follows:
(Amounts in millions) | April 4, 2026 |  | January 3, 2026
Trade and other accounts receivable | $ | 931.1 |  |  | $ | 921.8 |
Allowances for credit losses | (40.4) |  |  | (40.4) |
Total trade and other accounts receivable – net | $ | 890.7 |  |  | $ | 881.4 |
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 the three month periods ended April 4, 2026, and March 29, 2025:
| Three Months Ended |  |
(Amounts in millions) | April 4, 2026 |  | March 29, 2025 |  |  |  |
Allowances for credit losses: |  |  |  |  |  |  |
Beginning of period | $ | 40.4 |  |  | $ | 37.1 |  |  |  |  |
Provisions for credit losses | 4.6 |  |  | 4.9 |  |  |  |  |
Charge-offs | (4.6) |  |  | (3.3) |  |  |  |  |
Recoveries | 0.1 |  |  | 0.1 |  |  |  |  |
Currency translation | (0.1) |  |  | 0.4 |  |  |  |  |
End of period | $ | 40.4 |  |  | $ | 39.2 |  |  |  |  |
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 April 4, 2026, and January 3, 2026, are as follows:
(Amounts in millions) | April 4, 2026 |  | January 3, 2026
Finance installment receivables | $ | 595.6 |  |  | $ | 588.0 |
Finance lease receivables, net of unearned finance charges of $9.3 million and $9.2 million, respectively | 25.9 |  |  | 25.0 |
Total finance receivables | 621.5 |  |  | 613.0 |
Contract installment receivables | 68.4 |  |  | 69.6 |
Contract lease receivables, net of unearned finance charges of $20.9 million and $21.4 million, respectively | 60.8 |  |  | 62.4 |
Total contract receivables | 129.2 |  |  | 132.0 |
Total | 750.7 |  |  | 745.0 |
Allowances for credit losses: |  |  |
Finance installment receivables | (22.8) |  |  | (22.3) |
Finance lease receivables | (0.5) |  |  | (0.5) |
Total finance allowances for credit losses | (23.3) |  |  | (22.8) |
Contract installment receivables | (1.0) |  |  | (1.0) |
Contract lease receivables | (0.8) |  |  | (1.0) |
Total contract allowances for credit losses | (1.8) |  |  | (2.0) |
Total allowances for credit losses | (25.1) |  |  | (24.8) |
Total current finance and contract receivables – net | $ | 725.6 |  |  | $ | 720.2 |
Finance receivables – net | $ | 598.2 |  |  | $ | 590.2 |
Contract receivables – net | 127.4 |  |  | 130.0 |
Total current finance and contract receivables – net | $ | 725.6 |  |  | $ | 720.2 |
The components of Snap-on’s finance and contract receivables with payment terms beyond one year as of April 4, 2026, and January 3, 2026, are as follows:
(Amounts in millions) | April 4, 2026 |  | January 3, 2026
Finance installment receivables | $ | 1,287.1 |  |  | $ | 1,313.8 |
Finance lease receivables, net of unearned finance charges of $8.6 million and $8.4 million, respectively | 36.3 |  |  | 35.7 |
Total finance receivables | 1,323.4 |  |  | 1,349.5 |
Contract installment receivables | 230.2 |  |  | 232.2 |
Contract lease receivables, net of unearned finance charges of $33.9 million and $34.7 million, respectively | 192.6 |  |  | 196.2 |
Total contract receivables | 422.8 |  |  | 428.4 |
Total | 1,746.2 |  |  | 1,777.9 |
Allowances for credit losses: |  |  |
Finance installment receivables | (49.5) |  |  | (50.1) |
Finance lease receivables | (0.6) |  |  | (0.6) |
Total finance allowances for credit losses | (50.1) |  |  | (50.7) |
Contract installment receivables | (3.2) |  |  | (3.2) |
Contract lease receivables | (2.0) |  |  | (2.1) |
Total contract allowances for credit losses | (5.2) |  |  | (5.3) |
Total allowances for credit losses | (55.3) |  |  | (56.0) |
Total long-term finance and contract receivables – net | $ | 1,690.9 |  |  | $ | 1,721.9 |
Finance receivables – net | $ | 1,273.3 |  |  | $ | 1,298.8 |
Contract receivables – net | 417.6 |  |  | 423.1 |
Total long-term finance and contract receivables – net | $ | 1,690.9 |  |  | $ | 1,721.9 |
Schedule of Amortized Cost Basis of Finance and Contract Receivables | The amortized cost basis of finance and contract receivables by origination year as of April 4, 2026, and charge-offs recorded in the three months ended April 4, 2026, by origination year, are as follows:
(Amounts in millions) | 2026 |  | 2025 |  | 2024 |  | 2023 |  | 2022 |  | Prior |  | Total
Finance receivables: |  |  |  |  |  |  |  |  |  |  |  |  |
Delinquent | $ | 0.3 |  |  | $ | 22.5 |  |  | $ | 20.1 |  |  | $ | 11.3 |  |  | $ | 4.2 |  |  | $ | 2.0 |  |  | $ | 60.4 |
Non-delinquent | 438.9 |  |  | 900.9 |  |  | 348.6 |  |  | 142.6 |  |  | 43.7 |  |  | 9.8 |  |  | 1,884.5 |
Total finance receivables | $ | 439.2 |  |  | $ | 923.4 |  |  | $ | 368.7 |  |  | $ | 153.9 |  |  | $ | 47.9 |  |  | $ | 11.8 |  |  | $ | 1,944.9 |
Finance receivables charge-offs | $ | — |  |  | $ | 7.2 |  |  | $ | 7.7 |  |  | $ | 3.9 |  |  | $ | 1.6 |  |  | $ | 0.8 |  |  | $ | 21.2 |
Contract receivables: |  |  |  |  |  |  |  |  |  |  |  |  |
Delinquent | $ | — |  |  | $ | 0.2 |  |  | $ | 0.9 |  |  | $ | 1.4 |  |  | $ | 1.1 |  |  | $ | 0.2 |  |  | $ | 3.8 |
Non-delinquent | 45.8 |  |  | 179.0 |  |  | 127.8 |  |  | 84.1 |  |  | 52.3 |  |  | 59.2 |  |  | 548.2 |
Total contract receivables | $ | 45.8 |  |  | $ | 179.2 |  |  | $ | 128.7 |  |  | $ | 85.5 |  |  | $ | 53.4 |  |  | $ | 59.4 |  |  | $ | 552.0 |
Contract receivables charge-offs | $ | — |  |  | $ | 0.1 |  |  | $ | 0.3 |  |  | $ | 0.2 |  |  | $ | 0.1 |  |  | $ | 0.1 |  |  | $ | 0.8 |
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 the three month periods ended April 4, 2026, and March 29, 2025:
| Three Months Ended April 4, 2026 |  | Three Months Ended March 29, 2025
(Amounts in millions) | Finance Receivables |  | Contract Receivables |  | Finance Receivables |  | Contract Receivables
Allowances for credit losses: |  |  |  |  |  |  |
Beginning of period | $ | 73.5 |  |  | $ | 7.3 |  |  | $ | 72.4 |  |  | $ | 6.8 |
Provisions for credit losses | 18.3 |  |  | 0.5 |  |  | 18.2 |  |  | 0.9 |
Charge-offs | (21.2) |  |  | (0.8) |  |  | (20.0) |  |  | (0.6) |
Recoveries | 2.8 |  |  | 0.1 |  |  | 2.4 |  |  | 0.1 |
Currency translation | — |  |  | (0.1) |  |  | 0.1 |  |  | 0.1 |
End of period | $ | 73.4 |  |  | $ | 7.0 |  |  | $ | 73.1 |  |  | $ | 7.3 |
Schedule of Aging of Finance and Contract Receivables | The aging of finance and contract receivables as of April 4, 2026, and January 3, 2026, 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
April 4, 2026: |  |  |  |  |  |  |  |  |  |  |  |  |
Finance receivables | $ | 20.2 |  |  | $ | 13.5 |  |  | $ | 26.7 |  |  | $ | 60.4 |  |  | $ | 1,884.5 |  |  | $ | 1,944.9 |  |  | $ | 21.9 |
Contract receivables | 1.4 |  |  | 1.1 |  |  | 1.3 |  |  | 3.8 |  |  | 548.2 |  |  | 552.0 |  |  | 0.3 |
January 3, 2026: |  |  |  |  |  |  |  |  |  |  |  |  |
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 |
Schedule of Finance and Contract Receivables on Nonaccrual Status | The amount of finance and contract receivables on nonaccrual status as of April 4, 2026, and January 3, 2026, is as follows:
(Amounts in millions) | April 4, 2026 |  | January 3, 2026
Finance receivables | $ | 14.3 |  |  | $ | 13.1 |
Contract receivables | 2.9 |  |  | 2.6 |

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