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Condensed Consolidated Statements of Earnings (Unaudited) - USD ($)
shares in Millions, $ in Millions
3 Months Ended 9 Months Ended
Sep. 26, 2020
Sep. 28, 2019
Sep. 26, 2020
Sep. 28, 2019
Net sales $ 1,027.4 $ 985.9 $ 2,774.4 $ 3,028.6
Operating earnings 251.3 228.7 595.8 728.7
Interest expense (13.8) (12.0) (38.6) (36.9)
Other income (expense) – net 2.8 2.8 6.3 6.4
Earnings before income taxes and equity earnings 240.3 219.5 563.5 698.2
Income tax expense (55.1) (50.4) (130.9) (162.9)
Earnings before equity earnings 185.2 169.1 432.6 535.3
Equity earnings (loss), net of tax (0.5) 0.1 0.0 0.9
Net earnings 184.7 169.2 432.6 536.2
Net earnings attributable to noncontrolling interests (5.0) (4.6) (14.5) (13.3)
Net earnings attributable to Snap-on Incorporated $ 179.7 $ 164.6 $ 418.1 $ 522.9
Net earnings per share attributable to Snap-on Incorporated:        
Basic (in dollars per share) $ 3.31 $ 2.99 $ 7.69 $ 9.47
Diluted (in dollars per share) $ 3.28 $ 2.96 $ 7.62 $ 9.34
Weighted-average shares outstanding:        
Basic (in shares) 54.3 55.0 54.4 55.2
Effect of dilutive securities (in shares) 0.5 0.7 0.5 0.8
Weighted-average common shares outstanding, diluted (in shares) 54.8 55.7 54.9 56.0
Dividends declared per common share (in dollars per share) $ 1.08 $ 0.95 $ 3.24 $ 2.85
Excluding Financial Services        
Net sales $ 941.6 $ 901.8 $ 2,518.1 $ 2,774.8
Cost of goods sold (472.1) (453.7) (1,285.8) (1,381.3)
Gross profit 469.5 448.1 1,232.3 1,393.5
Operating expenses (283.8) (280.4) (816.6) (848.5)
Operating earnings 185.7 167.7 415.7 545.0
Financial Service        
Net sales 85.8 84.1 256.3 253.8
Cost of goods sold (20.2) (23.1) (76.2) (70.1)
Operating earnings $ 65.6 $ 61.0 $ 180.1 $ 183.7