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Condensed Consolidated Statements of Earnings (Unaudited) - USD ($)
shares in Millions, $ in Millions
3 Months Ended 6 Months Ended
Jun. 27, 2020
Jun. 29, 2019
Jun. 27, 2020
Jun. 29, 2019
Net sales $ 808.9 $ 1,035.4 $ 1,747.0 $ 2,042.7
Operating earnings 148.7 250.5 344.5 500.0
Interest expense (13.4) (12.4) (24.8) (24.9)
Other income (expense) – net 2.0 2.1 3.5 3.6
Earnings before income taxes and equity earnings 137.3 240.2 323.2 478.7
Income tax expense (31.9) (55.6) (75.8) (112.5)
Earnings before equity earnings 105.4 184.6 247.4 366.2
Equity earnings, net of tax 0.5 0.3 0.5 0.8
Net earnings 105.9 184.9 247.9 367.0
Net earnings attributable to noncontrolling interests (4.7) (4.5) (9.5) (8.7)
Net earnings attributable to Snap-on Incorporated $ 101.2 $ 180.4 $ 238.4 $ 358.3
Net earnings per share attributable to Snap-on Incorporated:        
Basic (in dollars per share) $ 1.86 $ 3.27 $ 4.37 $ 6.47
Diluted (in dollars per share) $ 1.85 $ 3.22 $ 4.34 $ 6.38
Weighted-average shares outstanding:        
Basic (in shares) 54.4 55.2 54.5 55.4
Effect of dilutive securities (in shares) 0.4 0.8 0.4 0.8
Weighted-average common shares outstanding, diluted (in shares) 54.8 56.0 54.9 56.2
Dividends declared per common share (in dollars per share) $ 1.08 $ 0.95 $ 2.16 $ 1.90
Excluding Financial Services        
Net sales $ 724.3 $ 951.3 $ 1,576.5 $ 1,873.0
Cost of goods sold (383.1) (477.5) (813.7) (927.6)
Gross profit 341.2 473.8 762.8 945.4
Operating expenses (250.1) (283.9) (532.8) (568.1)
Operating earnings 91.1 189.9 230.0 377.3
Financial Service        
Net sales 84.6 84.1 170.5 169.7
Cost of goods sold (27.0) (23.5) (56.0) (47.0)
Operating earnings $ 57.6 $ 60.6 $ 114.5 $ 122.7