Note 10: Pension Plans

Snap-on’s net periodic pension cost included the following components:


	Three Months Ended				Six Months Ended
(Amounts in millions)	July 1, 2017		July 2, 2016		July 1, 2017		July 2, 2016
Service cost	$	5.3	$	4.8	$	11.2	$	9.7
Interest cost		13.9		14.4		27.9		28.4
Expected return on plan assets		(20.9)		(20.7)		(41.0)		(40.4)
Amortization of unrecognized loss		7.0		8.5		13.9		15.7
Amortization of prior service credit		(0.3)		(0.3)		(0.6)		(0.6)

Net periodic pension cost	$	5.0	$	6.7	$	11.4	$	12.8

Snap-on intends to make contributions of $7.1 million to its foreign pension plans and $2.3 million to its domestic pension plans in 2017, as required by law. In the first six months of 2017, Snap-on made $30.8 million of cash contributions to its domestic pension plans consisting of (i) $30.0 million of discretionary contributions and (ii) $0.8 million of required contributions. Depending on market and other conditions, Snap-on may make additional discretionary cash contributions to its pension plans in 2017.