XML 14 R2.htm IDEA: XBRL DOCUMENT v3.22.2.2
CONDENSED CONSOLIDATED STATEMENTS OF EARNINGS (Unaudited) - USD ($)
$ in Millions
3 Months Ended 9 Months Ended
Oct. 01, 2022
Oct. 02, 2021
Oct. 01, 2022
Oct. 02, 2021
Net sales $ 1,189.8 $ 1,125.0 $ 3,598.3 $ 3,406.5
Operating earnings 289.9 271.9 895.3 824.1
Interest expense (11.8) (13.2) (35.1) (41.8)
Other income (expense) – net 13.1 3.7 30.7 11.4
Earnings before income taxes and equity earnings 291.2 262.4 890.9 793.7
Income tax expense (61.7) (60.9) (201.5) (182.9)
Earnings before equity earnings 229.5 201.5 689.4 610.8
Equity earnings, net of tax 0.0 0.0 0.0 1.5
Net earnings 229.5 201.5 689.4 612.3
Net earnings attributable to noncontrolling interests (5.6) (5.3) (16.6) (15.5)
Net earnings attributable to Snap-on Incorporated $ 223.9 $ 196.2 $ 672.8 $ 596.8
Net earnings per share attributable to Snap-on Incorporated:        
Basic (in dollars per share) $ 4.21 $ 3.65 $ 12.62 $ 11.05
Diluted (in dollars per share) $ 4.14 $ 3.57 $ 12.41 $ 10.83
Weighted-average shares outstanding:        
Basic (in shares) 53,212,751 53,815,091 53,307,241 54,016,988
Effect of dilutive securities (in shares) 937,026 1,061,678 926,291 1,083,808
Diluted (in shares) 54,149,777 54,876,769 54,233,532 55,100,796
Dividends declared per common share (in dollars per share) $ 1.42 $ 1.23 $ 4.26 $ 3.69
Total net sales        
Net sales $ 1,102.5 $ 1,037.7 $ 3,336.9 $ 3,143.7
Cost of goods sold (569.9) (517.0) (1,716.5) (1,566.3)
Gross profit 532.6 520.7 1,620.4 1,577.4
Operating expenses (309.1) (319.4) (927.2) (958.1)
Operating earnings 223.5 201.3 693.2 619.3
Financial services revenue        
Net sales 87.3 87.3 261.4 262.8
Cost of goods sold (20.9) (16.7) (59.3) (58.0)
Operating earnings $ 66.4 $ 70.6 $ 202.1 $ 204.8