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CONDENSED CONSOLIDATED STATEMENTS OF EARNINGS - USD ($)
$ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2023
Oct. 01, 2022
Sep. 30, 2023
Oct. 01, 2022
Net sales $ 1,254.2 $ 1,189.8 $ 3,814.5 $ 3,598.3
Operating earnings 314.6 289.9 984.6 895.3
Interest expense (12.4) (11.8) (37.4) (35.1)
Other income (expense) – net 18.0 13.1 50.0 30.7
Earnings before income taxes 320.2 291.2 997.2 890.9
Income tax expense (71.1) (61.7) (223.9) (201.5)
Net earnings 249.1 229.5 773.3 689.4
Net earnings attributable to noncontrolling interests (6.0) (5.6) (17.5) (16.6)
Net earnings attributable to Snap-on Incorporated $ 243.1 $ 223.9 $ 755.8 $ 672.8
Net earnings per share attributable to Snap-on Incorporated:        
Basic (in dollars per share) $ 4.60 $ 4.21 $ 14.29 $ 12.62
Diluted (in dollars per share) $ 4.51 $ 4.14 $ 14.00 $ 12.41
Weighted-average shares outstanding:        
Basic (in shares) 52,822,472 53,212,751 52,932,781 53,307,241
Effect of dilutive securities (in shares) 1,079,707 937,026 1,057,822 926,291
Diluted (in shares) 53,902,179 54,149,777 53,990,603 54,233,532
Dividends declared per common share (in dollars per share) $ 1.62 $ 1.42 $ 4.86 $ 4.26
Total net sales        
Net sales $ 1,159.3 $ 1,102.5 $ 3,533.6 $ 3,336.9
Cost of goods sold (581.1) (569.9) (1,762.1) (1,716.5)
Gross profit 578.2 532.6 1,771.5 1,620.4
Operating expenses (333.0) (309.1) (989.5) (927.2)
Operating earnings 245.2 223.5 782.0 693.2
Financial services revenue        
Net sales 94.9 87.3 280.9 261.4
Cost of goods sold (25.5) (20.9) (78.3) (59.3)
Operating earnings $ 69.4 $ 66.4 $ 202.6 $ 202.1