Commitments and Contingencies

6 Months Ended

Jul. 04, 2015

Commitments and Contingencies Disclosure [Abstract]

Note 14: Commitments and Contingencies

Snap-on provides product warranties for specific product lines and accrues for estimated future warranty cost in the period in which the sale is recorded. Snap-on calculates its accrual requirements based on historic warranty loss experience that is periodically adjusted for recent actual experience, including the timing of claims during the warranty period and actual costs incurred. Snap-on’s product warranty accrual activity for the three and six month periods ended July 4, 2015, and June 28, 2014, is as follows:


	Three Months Ended				Six Months Ended
(Amounts in millions)	July 4, 2015		June 28, 2014		July 4, 2015		June 28, 2014
Warranty reserve:
Beginning of period	$	17.1	$	16.7	$	17.3	$	17.0
Additions		3.9		4.0		7.6		6.9
Usage		(3.0)		(3.0)		(6.9)		(6.2)

End of period	$	18.0	$	17.7	$	18.0	$	17.7

Snap-on is involved in various legal matters that are being litigated and/or settled in the ordinary course of business. Although it is not possible to predict the outcome of these legal matters, management believes that the results of these legal matters will not have a material impact on Snap-on’s consolidated financial position, results of operations or cash flows.