Subsequent Event

9 Months Ended

Oct. 01, 2016

Subsequent Events [Abstract]

Subsequent Event

Note 18: Subsequent Event

On October 17, 2016, Snap-on announced that it had entered into a definitive agreement to acquire Car-O-Liner Holding AB (“Car-O-Liner”) for approximately $155 million in cash. Based in Gothenburg, Sweden, Car-O-Liner, with trailing 12 month sales of approximately $95 million, is a leading global provider of collision repair equipment and information and truck alignment systems. Snap-on believes the acquisition of Car-O-Liner will further expand its capabilities with repair shop owners and managers. Snap-on intends to finance the acquisition with available cash and the issuance of commercial paper; subject to certain closing conditions, the transaction is expected to close within 30 days.