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Receivables - (Tables)
 9 Months Ended
Sep. 30, 2023
Receivables [Abstract]  
Schedule of Components of Trade and Other Accounts Receivable
The components of Snap-on’s trade and other accounts receivable as of September 30, 2023, and December 31, 2022, are as follows:

(Amounts in millions)September 30,
2023		December 31, 2022
Trade and other accounts receivable$810.6 $792.8 
Allowances for credit losses(33.8)(31.1)
Total trade and other accounts receivable – net$776.8 $761.7 
Schedule of Allowance For Credit Losses On Receivables
The following is a rollforward of the allowances for credit losses related to trade and other accounts receivable for the three and nine months ended September 30, 2023, and October 1, 2022:
Three Months EndedNine Months Ended
(Amounts in millions)September 30, 2023October 1, 2022September 30, 2023October 1, 2022
Allowances for credit losses:
Beginning of period$32.3 $28.1 $31.1 $27.3 
Provision for credit losses
5.5 4.6 13.7 11.2 
Charge-offs
(3.6)(3.0)(10.9)(8.2)
Recoveries
— — — 0.1 
Currency translation
(0.4)(0.9)(0.1)(1.6)
End of period$33.8 $28.8 $33.8 $28.8 
Schedule of Components of Finance and Contract Receivables, Current and Beyond One Year
The components of Snap-on’s current finance and contract receivables as of September 30, 2023, and December 31, 2022, are as follows:

(Amounts in millions)September 30,
2023		December 31, 2022
Finance installment receivables$611.4 $578.6 
Finance lease receivables, net of unearned finance charges of $2.1 million and $0.5 million, respectively
7.3 3.2 
Total finance receivables618.7 581.8 
Contract installment receivables59.4 51.3 
Contract lease receivables, net of unearned finance charges of $20.3 million and $19.1 million, respectively
62.0 60.3 
Total contract receivables121.4 111.6 
Total740.1 693.4 
Allowances for credit losses:
Finance installment receivables(21.1)(19.5)
Finance lease receivables(0.1)(0.1)
Total finance allowance for credit losses(21.2)(19.6)
Contract installment receivables(0.9)(0.8)
Contract lease receivables(0.9)(0.9)
Total contract allowance for credit losses(1.8)(1.7)
Total allowance for credit losses(23.0)(21.3)
Total current finance and contract receivables – net$717.1 $672.1 
Finance receivables – net$597.5 $562.2 
Contract receivables – net119.6 109.9 
Total current finance and contract receivables – net$717.1 $672.1 
The components of Snap-on’s finance and contract receivables with payment terms beyond one year as of September 30, 2023, and December 31, 2022, are as follows: 

(Amounts in millions)September 30,
2023		December 31, 2022
Finance installment receivables$1,283.2 $1,210.4 
Finance lease receivables, net of unearned finance charges of $1.6 million and $0.2 million, respectively
7.5 1.7 
Total finance receivables1,290.7 1,212.1 
Contract installment receivables212.3 202.1 
Contract lease receivables, net of unearned finance charges of $33.2 million and $30.7 million, respectively
192.3 186.6 
Total contract receivables404.6 388.7 
Total1,695.3 1,600.8 
Allowances for credit losses:
Finance installment receivables(44.7)(41.3)
Finance lease receivables(0.1)— 
Total finance allowance for credit losses(44.8)(41.3)
Contract installment receivables(3.1)(3.1)
Contract lease receivables(1.6)(1.8)
Total contract allowance for credit losses(4.7)(4.9)
Total allowance for credit losses(49.5)(46.2)
Total long-term finance and contract receivables – net$1,645.8 $1,554.6 
Finance receivables – net$1,245.9 $1,170.8 
Contract receivables – net399.9 383.8 
Total long-term finance and contract receivables – net$1,645.8 $1,554.6 
Schedule of Financing Receivable Credit Quality Indicators
The amortized cost basis of finance and contract receivables by origination year as of September 30, 2023, and charge-offs for the nine months ended September 30, 2023, are as follows:

(Amounts in millions)20232022202120202019PriorTotal
Finance receivables:
Delinquent$11.6 $19.3 $9.3 $5.3 $2.1 $1.1 $48.7 
Non-delinquent1,101.7 484.0 172.0 76.6 21.7 4.7 1,860.7 
Total Finance receivables$1,113.3 $503.3 $181.3 $81.9 $23.8 $5.8 $1,909.4 
Finance receivables charge-offs$1.7 $18.8 $11.2 $6.1 $2.6 $1.7 $42.1 
Contract receivables:
Delinquent$0.1 $0.8 $0.9 $0.6 $0.5 $0.2 $3.1 
Non-delinquent151.8 136.1 94.0 64.2 40.8 36.0 522.9 
Total Contract receivables$151.9 $136.9 $94.9 $64.8 $41.3 $36.2 $526.0 
Contract receivables charge-offs$— $0.2 $0.6 $0.4 $0.1 $0.3 $1.6 
Schedule of Financing Receivable, Allowance for Credit Loss
The following is a rollforward of the allowances for credit losses for finance and contract receivables for the three and nine months ended September 30, 2023, and October 1, 2022:
 
Three Months Ended
September 30, 2023		Nine Months Ended
September 30, 2023
(Amounts in millions)Finance
Receivables		Contract
Receivables		Finance
Receivables		Contract
Receivables
Allowances for credit losses:
Beginning of period$65.1 $6.5 $60.9 $6.6 
Provision for credit losses12.8 0.7 40.7 1.3 
Charge-offs(13.7)(0.7)(42.1)(1.6)
Recoveries1.9 0.1 6.5 0.3 
Currency translation(0.1)(0.1)— (0.1)
End of period$66.0 $6.5 $66.0 $6.5 

Three Months Ended
October 1, 2022		Nine Months Ended
October 1, 2022
(Amounts in millions)Finance ReceivablesContract ReceivablesFinance ReceivablesContract Receivables
Allowances for credit losses:
Beginning of period$61.3 $7.2 $67.3 $8.4 
Provision for credit losses9.5 — 24.9 0.1 
Charge-offs(12.3)(0.4)(38.5)(1.8)
Recoveries2.0 0.1 7.0 0.2 
Currency translation(0.2)(0.2)(0.4)(0.2)
End of period$60.3 $6.7 $60.3 $6.7 
Schedule of Aging of Finance and Contract Receivables
The aging of finance and contract receivables as of September 30, 2023, and December 31, 2022, is as follows:
(Amounts in millions)30-59
Days Past
Due		60-90
Days Past
Due		Greater
Than 90
Days Past
Due		Total Past
Due		Total Not
Past Due		TotalGreater
Than 90
Days Past
Due and
Accruing
September 30, 2023:
Finance receivables$17.1 $11.9 $19.7 $48.7 $1,860.7 $1,909.4 $16.8 
Contract receivables1.4 0.4 1.3 3.1 522.9 526.0 0.2 
December 31, 2022:
Finance receivables$17.2 $11.2 $19.5 $47.9 $1,746.0 $1,793.9 $16.5 
Contract receivables1.2 0.3 2.2 3.7 496.6 500.3 0.3 
Schedule of Finance and Contract Receivables on Nonaccrual Status
The amount of finance and contract receivables on nonaccrual status as of September 30, 2023, and December 31, 2022, is as follows:

(Amounts in millions)September 30,
2023		December 31, 2022
Finance receivables$10.7 $8.7 
Contract receivables2.4 3.3