Exit and Disposal Activities

12 Months Ended

Dec. 30, 2017

Restructuring and Related Activities [Abstract]

Exit and Disposal Activities

Note 7: Exit and Disposal Activities

In 2017, Snap-on did not record any costs for exit and disposal activities. In 2016, the company’s Repair Systems & Information Group recorded $0.9 million of severance costs for exit and disposal activities, all of which qualified for accrual treatment; no costs for exit and disposal activities were recorded in 2015. The exit and disposal accrual of $0.6 million as of 2017 year end is expected to be fully utilized in 2018. Snap-on anticipates funding the remaining cash requirements of its exit and disposal activities with available cash on hand, cash flows from operations and borrowings under the company’s existing credit facilities. The estimated costs for the exit and disposal activities were based on management’s best business judgment under prevailing circumstances.