Segments (Tables)

3 Months Ended

Mar. 29, 2025

Segment Reporting [Abstract]

Schedule of Net Sales by Segment

	Three Months Ended March 29, 2025
	Commercial &		Snap-on		Repair Systems
	Industrial		Tools		& Information		Financial		Total
(Amounts in millions)	Group		Group		Group		Services		Segments
External net sales	$	276.7	$	462.9	$	401.5	$	—	$	1,141.1
Intersegment net sales	67.2		—		74.4		—		141.6
Segment net sales	343.9		462.9		475.9		—		1,282.7
Segment cost of goods sold	(197.4)		(248.4)		(258.4)		—		(704.2)
Segment gross profit	146.5		214.5		217.5		—		578.5
Financial services revenue	—		—		—		102.1		102.1
Segment operating and financial services expenses
Personnel	(55.9)		(48.4)		(65.1)		(8.8)
Shipping and handling costs	(7.5)		(18.5)		—		—
Depreciation and amortization	(1.8)		(1.8)		(4.5)		(0.2)
Provisions for credit losses	—		—		—		(19.1)
Other segment expenses*	(28.1)		(53.4)		(25.8)		(3.7)
Total segment operating and financial services expenses	(93.3)		(122.1)		(95.4)		(31.8)		(342.6)
Segment operating earnings	$	53.2	$	92.4	$	122.1	$	70.3	$	338.0
Reconciliation of segment net sales to total net sales and total revenues:
Segment net sales									$	1,282.7
Intersegment eliminations									(141.6)
Total net sales									1,141.1
Financial services revenue									102.1
Total revenues									$	1,243.2
Reconciliation of segment cost of goods sold to cost of goods sold:
Segment cost of goods sold									$	(704.2)
Intersegment eliminations									141.6
Cost of goods sold									$	(562.6)
Reconciliation of segment operating earnings to operating earnings and earnings before income taxes:
Segment operating earnings									$	338.0
Corporate operating expenses									(24.6)
Operating earnings									313.4
Interest expense									(12.4)
Other income (expense) – net									14.4
Earnings before income taxes									$	315.4

*	Other segment expenses primarily include:
Commercial & Industrial Group - shared service allocations; technology, travel and marketing expenses.
	Snap-on Tools Group - franchisee support costs, shared service allocations and technology expenses.
	Repair Systems & Information Group - technology, travel, professional fee and marketing expenses; shared service allocations.
	Financial Services - customer support and technology expenses.

Financial Data by Segment (continued):

	Three Months Ended March 30, 2024
	Commercial &		Snap-on		Repair Systems
	Industrial		Tools		& Information		Financial		Total
(Amounts in millions)	Group		Group		Group		Services		Segments
External net sales	$	291.0	$	500.1	$	391.2	$	—	$	1,182.3
Intersegment net sales	68.9		—		72.6		—		141.5
Segment net sales	359.9		500.1		463.8		—		1,323.8
Segment cost of goods sold	(213.2)		(259.0)		(254.9)		—		(727.1)
Segment gross profit	146.7		241.1		208.9		—		596.7
Financial services revenue	—		—		—		99.6		99.6
Segment operating and financial services expenses
Personnel	(55.1)		(49.2)		(64.2)		(8.7)
Shipping and handling costs	(6.1)		(22.6)		—		—
Depreciation and amortization	(2.1)		(1.9)		(5.4)		(0.3)
Provisions for credit losses	—		—		—		(18.8)
Other segment expenses*	(28.0)		(50.1)		(26.4)		(3.5)
Total segment operating and financial services expenses	(91.3)		(123.8)		(96.0)		(31.3)		(342.4)
Segment operating earnings	$	55.4	$	117.3	$	112.9	$	68.3	$	353.9
Reconciliation of segment net sales to total net sales and total revenues:
Segment net sales									$	1,323.8
Intersegment eliminations									(141.5)
Total net sales									1,182.3
Financial services revenue									99.6
Total revenues									$	1,281.9
Reconciliation of segment cost of goods sold to cost of goods sold:
Segment cost of goods sold									$	(727.1)
Intersegment eliminations									141.5
Cost of goods sold									$	(585.6)
Reconciliation of segment operating earnings to operating earnings and earnings before income taxes:
Segment operating earnings									$	353.9
Corporate operating expenses									(14.7)
Operating earnings									339.2
Interest expense									(12.5)
Other income (expense) – net									18.1
Earnings before income taxes									$	344.8

*	Other segment expenses primarily include:
Commercial & Industrial Group - shared service allocations; technology, travel and marketing expenses.
	Snap-on Tools Group - franchisee support costs, shared service allocations and technology expenses.
	Repair Systems & Information Group - technology, travel, professional fee and marketing expenses; shared service allocations.
	Financial Services - customer support and technology expenses.

Financial Data by Segment (continued):

(Amounts in millions)	March 29, 2025		December 28, 2024
Assets:
Commercial & Industrial Group	$	1,268.1	$	1,230.8
Snap-on Tools Group	949.9		937.5
Repair Systems & Information Group	1,737.4		1,695.5
Financial Services	2,486.3		2,491.9
Total assets from reportable segments	6,441.7		6,355.7
Corporate	1,716.6		1,633.0
Elimination of intersegment receivables	(89.3)		(91.9)
Total assets	$	8,069.0	$	7,896.8