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v3.26.1

Segments | 3 Months Ended
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Apr. 04, 2026
Segment Reporting [Abstract] |
Segments | Segments Snap-on’s operating segments, which represent Snap-on’s reportable segments, are based on the organizational structure used by the Chief Executive Officer, its chief operating decision maker (“CODM”), to make operating and investment determinations and to assess performance. Snap-on’s reportable operating segments are: (i) the Commercial & Industrial Group; (ii) the Snap-on Tools Group; (iii) the Repair Systems & Information Group; and (iv) Financial Services. The Commercial & Industrial Group consists of business operations serving a broad range of industrial and commercial customers worldwide, including customers in the aerospace, natural resources, government and military, power generation, transportation and technical education market segments (collectively, “critical industries”), primarily through direct and distributor channels. The Snap-on Tools Group consists of business operations primarily serving vehicle service and repair technicians through the company’s multinational mobile tool distribution channel. The Repair Systems & Information Group consists of business operations serving other professional vehicle repair customers worldwide, primarily owners and managers of independent repair shops and OEM dealerships, through direct and distributor channels. Financial Services consists of the business operations of Snap-on’s finance subsidiaries. The CODM evaluates the performance of the Commercial & Industrial Group, the Snap-on Tools Group and the Repair Systems & Information Group operating segments based on segment net sales and segment operating earnings. The segment net sales of the Snap-on Tools Group reflect external net sales, while the segment net sales of the Commercial & Industrial Group and the Repair Systems & Information Group include both external and intersegment net sales. Snap-on accounts for intersegment net sales and transfers based primarily on standard costs with reasonable mark-ups established between the segments. The Financial Services operating segment is evaluated based on financial services revenue and segment operating earnings. Segment net sales and segment operating earnings are used to determine the compensation of certain management employees. Identifiable assets by segment are those assets used in the respective reportable segment’s operations. Corporate assets consist of cash and cash equivalents (excluding cash held at Financial Services), deferred income taxes and certain other assets. Corporate expenses primarily reflect stock-based compensation and other costs not attributable to an operating segment. Intersegment amounts are eliminated to arrive at Snap-on’s consolidated financial results. Financial Data by Segment:
| Three Months Ended April 4, 2026
| Commercial & |  | Snap-on |  | Repair Systems |  |  |  |
| Industrial |  | Tools |  | & Information |  | Financial |  | Total
(Amounts in millions) | Group |  | Group |  | Group |  | Services |  | Segments
External net sales | $ | 308.8 |  |  | $ | 486.0 |  |  | $ | 412.4 |  |  | $ | — |  |  | $ | 1,207.2 |
Intersegment net sales | 72.2 |  |  | — |  |  | 72.9 |  |  | — |  |  | 145.1 |
Segment net sales | 381.0 |  |  | 486.0 |  |  | 485.3 |  |  | — |  |  | 1,352.3 |
Segment cost of goods sold | (227.4) |  |  | (254.4) |  |  | (262.2) |  |  | — |  |  | (744.0) |
Segment gross profit | 153.6 |  |  | 231.6 |  |  | 223.1 |  |  | — |  |  | 608.3 |
Financial services revenue | — |  |  | — |  |  | — |  |  | 101.1 |  |  | 101.1 |
Segment operating and financial services expenses |  |  |  |  |  |  |  |  |
Personnel | (59.5) |  |  | (51.8) |  |  | (69.0) |  |  | (9.5) |  |  |
Shipping and handling costs | (7.7) |  |  | (19.8) |  |  | — |  |  | — |  |  |
Depreciation and amortization | (1.7) |  |  | (1.9) |  |  | (4.7) |  |  | (0.2) |  |  |
Provisions for credit losses | — |  |  | — |  |  | — |  |  | (18.8) |  |  |
Other segment expenses* | (29.8) |  |  | (53.1) |  |  | (29.9) |  |  | (4.6) |  |  |
Total segment operating and financial services expenses | (98.7) |  |  | (126.6) |  |  | (103.6) |  |  | (33.1) |  |  | (362.0) |
Segment operating earnings | $ | 54.9 |  |  | $ | 105.0 |  |  | $ | 119.5 |  |  | $ | 68.0 |  |  | $ | 347.4 |
Reconciliation of segment net sales to total net sales and total revenues: |  |  |  |  |  |
Segment net sales |  |  |  |  |  |  |  |  | $ | 1,352.3 |
Intersegment eliminations |  |  |  |  |  |  |  |  | (145.1) |
Total net sales |  |  |  |  |  |  |  |  | 1,207.2 |
Financial services revenue |  |  |  |  |  |  |  |  | 101.1 |
Total revenues |  |  |  |  |  |  |  |  | $ | 1,308.3 |
Reconciliation of segment cost of goods sold to cost of goods sold: |  |  |  |  |  |
Segment cost of goods sold |  |  |  |  |  |  |  |  | $ | (744.0) |
Intersegment eliminations |  |  |  |  |  |  |  |  | 145.1 |
Cost of goods sold |  |  |  |  |  |  |  |  | $ | (598.9) |
Reconciliation of segment operating earnings to operating earnings and earnings before income taxes: |  |
Segment operating earnings |  |  |  |  |  |  |  |  | $ | 347.4 |
Corporate operating expenses |  |  |  |  |  |  |  |  | (28.6) |
Operating earnings |  |  |  |  |  |  |  |  | 318.8 |
Interest expense |  |  |  |  |  |  |  |  | (12.4) |
Other income (expense) – net |  |  |  |  |  |  |  |  | 16.8 |
Earnings before income taxes |  |  |  |  |  |  |  |  | $ | 323.2 |
* | 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 March 29, 2025
| Commercial & |  | Snap-on |  | Repair Systems |  |  |  |
| Industrial |  | Tools |  | & Information |  | Financial |  | Total
(Amounts in millions) | Group |  | Group |  | Group |  | Services |  | Segments
External net sales | $ | 276.7 |  |  | $ | 462.9 |  |  | $ | 401.5 |  |  | $ | — |  |  | $ | 1,141.1 |
Intersegment net sales | 67.2 |  |  | — |  |  | 74.4 |  |  | — |  |  | 141.6 |
Segment net sales | 343.9 |  |  | 462.9 |  |  | 475.9 |  |  | — |  |  | 1,282.7 |
Segment cost of goods sold | (197.4) |  |  | (248.4) |  |  | (258.4) |  |  | — |  |  | (704.2) |
Segment gross profit | 146.5 |  |  | 214.5 |  |  | 217.5 |  |  | — |  |  | 578.5 |
Financial services revenue | — |  |  | — |  |  | — |  |  | 102.1 |  |  | 102.1 |
Segment operating and financial services expenses |  |  |  |  |  |  |  |  |
Personnel | (55.9) |  |  | (48.4) |  |  | (65.1) |  |  | (8.8) |  |  |
Shipping and handling costs | (7.5) |  |  | (18.5) |  |  | — |  |  | — |  |  |
Depreciation and amortization | (1.8) |  |  | (1.8) |  |  | (4.5) |  |  | (0.2) |  |  |
Provisions for credit losses | — |  |  | — |  |  | — |  |  | (19.1) |  |  |
Other segment expenses* | (28.1) |  |  | (53.4) |  |  | (25.8) |  |  | (3.7) |  |  |
Total segment operating and financial services expenses | (93.3) |  |  | (122.1) |  |  | (95.4) |  |  | (31.8) |  |  | (342.6) |
Segment operating earnings | $ | 53.2 |  |  | $ | 92.4 |  |  | $ | 122.1 |  |  | $ | 70.3 |  |  | $ | 338.0 |
Reconciliation of segment net sales to total net sales and total revenues: |  |  |  |  |  |
Segment net sales |  |  |  |  |  |  |  |  | $ | 1,282.7 |
Intersegment eliminations |  |  |  |  |  |  |  |  | (141.6) |
Total net sales |  |  |  |  |  |  |  |  | 1,141.1 |
Financial services revenue |  |  |  |  |  |  |  |  | 102.1 |
Total revenues |  |  |  |  |  |  |  |  | $ | 1,243.2 |
Reconciliation of segment cost of goods sold to cost of goods sold: |  |  |  |  |  |
Segment cost of goods sold |  |  |  |  |  |  |  |  | $ | (704.2) |
Intersegment eliminations |  |  |  |  |  |  |  |  | 141.6 |
Cost of goods sold |  |  |  |  |  |  |  |  | $ | (562.6) |
Reconciliation of segment operating earnings to operating earnings and earnings before income taxes: |  |
Segment operating earnings |  |  |  |  |  |  |  |  | $ | 338.0 |
Corporate operating expenses |  |  |  |  |  |  |  |  | (24.6) |
Operating earnings |  |  |  |  |  |  |  |  | 313.4 |
Interest expense |  |  |  |  |  |  |  |  | (12.4) |
Other income (expense) – net |  |  |  |  |  |  |  |  | 14.4 |
Earnings before income taxes |  |  |  |  |  |  |  |  | $ | 315.4 |
* | 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) | April 4, 2026 |  | January 3, 2026
Assets: |  |  |
Commercial & Industrial Group | $ | 1,298.5 |  |  | $ | 1,318.1 |
Snap-on Tools Group | 998.3 |  |  | 972.1 |
Repair Systems & Information Group | 1,776.8 |  |  | 1,784.3 |
Financial Services | 2,454.5 |  |  | 2,477.2 |
Total assets from reportable segments | 6,528.1 |  |  | 6,551.7 |
Corporate | 2,071.1 |  |  | 1,946.3 |
Elimination of intersegment receivables | (82.8) |  |  | (85.7) |
Total assets | $ | 8,516.4 |  |  | $ | 8,412.3 |

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- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-21 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name 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