Snap-on (SNA) 10-Q 17 Oct 24 2024 Q3 Quarterly report Financial data

Cover

Cover - shares	9 Months Ended
	Sep. 28, 2024	Oct. 11, 2024
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 28, 2024
Document Transition Report	false
Entity File Number	1-7724
Entity Registrant Name	Snap-on Inc
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	39-0622040
Entity Address, Address Line One	2801 80th Street,
Entity Address, City or Town	Kenosha,
Entity Address, State or Province	WI
Entity Address, Postal Zip Code	53143
City Area Code	262
Local Phone Number	656-5200
Title of 12(b) Security	Common Stock, $1.00 par value
Trading Symbol	SNA
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		52,507,402
Amendment Flag	false
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q3
Entity Central Index Key	0000091440
Current Fiscal Year End Date	--12-28

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF EARNINGS - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 28, 2024	Sep. 30, 2023	Sep. 28, 2024	Sep. 30, 2023
Net sales	$ 1,247.4	$ 1,254.2	$ 3,809.2	$ 3,814.5
Interest expense	(12.5)	(12.4)	(37.3)	(37.4)
Other income (expense) – net	20.6	18	57.4	50
Earnings before income taxes	332.2	320.2	1,033.9	997.2
Income tax expense	(74.7)	(71.1)	(229.2)	(223.9)
Net earnings	257.5	249.1	804.7	773.3
Net earnings attributable to noncontrolling interests	(6.4)	(6)	(18.9)	(17.5)
Net earnings attributable to Snap-on Incorporated	$ 251.1	$ 243.1	$ 785.8	$ 755.8
Net earnings per share attributable to Snap-on Incorporated:
Basic (in dollars per share)	$ 4.77	$ 4.60	$ 14.91	$ 14.29
Diluted (in dollars per share)	$ 4.70	$ 4.51	$ 14.69	$ 14
Weighted-average shares outstanding:
Basic (in shares)	52,577,687	52,822,472	52,660,264	52,932,781
Effect of dilutive securities (in shares)	825,262	1,079,707	863,023	1,057,822
Diluted (in shares)	53,402,949	53,902,179	53,523,287	53,990,603
Dividends declared per common share (in dollars per share)	$ 1.86	$ 1.62	$ 5.58	$ 4.86
Scenario, Rounding
Weighted-average shares outstanding:
Effect of dilutive securities (in shares)	800,000	1,100,000	800,000	1,100,000
Product and Services, Including Financial Services
Operating earnings	$ 324.1	$ 314.6	$ 1,013.8	$ 984.6
Total net sales
Net sales	1,147	1,159.3	3,508.7	3,533.6
Cost of goods sold	(559.2)	(581.1)	(1,726.9)	(1,762.1)
Gross profit	587.8	578.2	1,781.8	1,771.5
Operating expenses	(335.4)	(333)	(978.2)	(989.5)
Operating earnings	252.4	245.2	803.6	782
Financial services revenue
Net sales	100.4	94.9	300.5	280.9
Cost of goods sold	(28.7)	(25.5)	(90.3)	(78.3)
Operating earnings	$ 71.7	$ 69.4	$ 210.2	$ 202.6

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 28, 2024	Sep. 30, 2023	Sep. 28, 2024	Sep. 30, 2023
Comprehensive income (loss):
Net earnings	$ 257.5	$ 249.1	$ 804.7	$ 773.3
Other comprehensive income (loss):
Foreign currency translation	79	(52.3)	21.4	(34)
Reclassification of cash flow hedges to net earnings, net of tax	(0.4)	(0.4)	(1.2)	(1.2)
Defined benefit pension and postretirement plans:
Amortization of net unrecognized losses	2	0.1	6	0.2
Income tax benefit	(0.5)	0	(1.4)	0
Net of tax	1.5	0.1	4.6	0.2
Total comprehensive income	337.6	196.5	829.5	738.3
Comprehensive income attributable to noncontrolling interests	(6.4)	(6)	(18.9)	(17.5)
Comprehensive income attributable to Snap-on Incorporated	$ 331.2	$ 190.5	$ 810.6	$ 720.8

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Sep. 28, 2024	Dec. 30, 2023
Current assets:
Cash and cash equivalents	$ 1,313.3	$ 1,001.5
Trade and other accounts receivable – net	796.4	791.3
Finance receivables and contract receivables - net	746.8	714.9
Inventories – net	995.8	1,005.9
Prepaid expenses and other current assets	148.4	138.4
Total current assets	4,000.7	3,652
Property and equipment:
Property and equipment – gross	1,622.8	1,570.4
Accumulated depreciation	(1,074.5)	(1,031.1)
Property and equipment – net	548.3	539.3
Operating lease right-of-use assets	78	74.7
Deferred income tax assets	79.7	76
Long-term finance receivables and contract receivables - net	1,731.1	1,692.1
Goodwill	1,086.6	1,097.4
Other intangible assets – net	277.3	268.9
Pension assets	134.5	130.5
Other long-term assets	17.1	14
Total assets	7,953.3	7,544.9
Current liabilities:
Notes payable	14.3	15.6
Accounts payable	270	238
Accrued benefits	59.4	64.4
Accrued compensation	83.5	102.9
Franchisee deposits	79.2	73.3
Other accrued liabilities	450	447.4
Total current liabilities	956.4	941.6
Long-term debt	1,185.3	1,184.6
Deferred income tax liabilities	83.2	79.2
Retiree health care benefits	20.2	21.8
Pension liabilities	65.5	82.3
Operating lease liabilities	57.1	54.6
Other long-term liabilities	87.9	87.4
Total liabilities	2,455.6	2,451.5
Commitments and contingencies (Note 14)
Shareholders’ equity attributable to Snap-on Incorporated:
Preferred stock (authorized 15,000,000 shares of $1 par value; none outstanding)	0	0
Common stock (authorized 250,000,000 shares of $1 par value; issued 67,456,600 and 67,450,999 shares, respectively)	67.5	67.5
Additional paid-in capital	549	545.5
Retained earnings	7,439	6,948.5
Accumulated other comprehensive loss	(424.7)	(449.5)
Treasury stock at cost (14,950,516 and 14,756,982 shares, respectively)	(2,155.8)	(2,040.7)
Total shareholders’ equity attributable to Snap-on Incorporated	5,475	5,071.3
Noncontrolling interests	22.7	22.1
Total equity	5,497.7	5,093.4
Total liabilities and equity	7,953.3	7,544.9
Land
Property and equipment:
Property and equipment – gross	34.9	34.5
Buildings and improvements
Property and equipment:
Property and equipment – gross	459.3	452.8
Machinery, equipment and computer software
Property and equipment:
Property and equipment – gross	1,128.6	1,083.1
Finance Receivables
Current assets:
Finance receivables and contract receivables - net	624.7	594.1
Property and equipment:
Long-term finance receivables and contract receivables - net	1,309	1,284.2
Contract Receivables
Current assets:
Finance receivables and contract receivables - net	122.1	120.8
Property and equipment:
Long-term finance receivables and contract receivables - net	$ 422.1	$ 407.9

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Sep. 28, 2024	Dec. 30, 2023
Statement of Financial Position [Abstract]
Preferred stock, shares authorized (in shares)	15,000,000	15,000,000
Preferred stock, par value (in dollars per share)	$ 1	$ 1
Preferred stock, shares outstanding (in shares)	0	0
Common stock, shares authorized (in shares)	250,000,000	250,000,000
Common stock, par value (in dollars per share)	$ 1	$ 1
Common stock, shares issued (in shares)	67,456,600	67,450,999
Treasury stock at cost (in shares)	14,950,516	14,756,982

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF EQUITY - USD ($) $ in Millions	Total	Common Stock	Additional Paid-in Capital	Retained Earnings	Accumulated Other Comprehensive Loss	Treasury Stock	Noncontrolling Interests
Beginning balance at Dec. 31, 2022	$ 4,503.5	$ 67.4	$ 499.9	$ 6,296.2	$ (528.3)	$ (1,853.9)	$ 22.2
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net earnings	773.3			755.8			17.5
Other comprehensive income (loss)	(35)				(35)
Cash dividends	(257.6)			(257.6)
Stock compensation plans	121.5		31.8			89.7
Share repurchases	(233.8)					(233.8)
Other	(19.5)	0.1		(2.1)			(17.5)
Ending balance at Sep. 30, 2023	4,852.4	67.5	531.7	6,792.3	(563.3)	(1,998)	22.2
Beginning balance at Jul. 01, 2023	4,779.3	67.5	521.1	6,635.6	(510.7)	(1,956.4)	22.2
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net earnings	249.1			243.1			6
Other comprehensive income (loss)	(52.6)				(52.6)
Cash dividends	(85.6)			(85.6)
Stock compensation plans	20.8		10.6			10.2
Share repurchases	(51.8)					(51.8)
Other	(6.8)			(0.8)			(6)
Ending balance at Sep. 30, 2023	4,852.4	67.5	531.7	6,792.3	(563.3)	(1,998)	22.2
Beginning balance at Dec. 30, 2023	5,093.4	67.5	545.5	6,948.5	(449.5)	(2,040.7)	22.1
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net earnings	804.7			785.8			18.9
Other comprehensive income (loss)	24.8				24.8
Cash dividends	(294.1)			(294.1)
Stock compensation plans	65.9		3.5			62.4
Share repurchases	(177.5)					(177.5)
Other	(19.5)			(1.2)			(18.3)
Ending balance at Sep. 28, 2024	5,497.7	67.5	549	7,439	(424.7)	(2,155.8)	22.7
Beginning balance at Jun. 29, 2024	5,308.9	67.5	542.8	7,286	(504.8)	(2,105.2)	22.6
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net earnings	257.5			251.1			6.4
Other comprehensive income (loss)	80.1				80.1
Cash dividends	(97.9)			(97.9)
Stock compensation plans	15.5		6.2			9.3
Share repurchases	(59.9)					(59.9)
Other	(6.5)		0	(0.2)			(6.3)
Ending balance at Sep. 28, 2024	$ 5,497.7	$ 67.5	$ 549	$ 7,439	$ (424.7)	$ (2,155.8)	$ 22.7

CONDENSED CONSOLIDATED STATEM_4

CONDENSED CONSOLIDATED STATEMENTS OF EQUITY (Parenthetical) - $ / shares	3 Months Ended		9 Months Ended
	Sep. 28, 2024	Sep. 30, 2023	Sep. 28, 2024	Sep. 30, 2023
Statement of Stockholders' Equity [Abstract]
Cash dividends per share (in dollars per share)	$ 1.86	$ 1.62	$ 5.58	$ 4.86
Share repurchases (in shares)	215,000	194,000	637,000	909,000

CONDENSED CONSOLIDATED STATEM_5

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions	9 Months Ended
	Sep. 28, 2024	Sep. 30, 2023
Operating activities:
Net earnings	$ 804.7	$ 773.3
Adjustments to reconcile net earnings to net cash provided (used) by operating activities:
Depreciation	54.7	53.6
Amortization of other intangible assets	19	20.7
Provision for losses on finance receivables	50.6	40.7
Provision for losses on non-finance receivables	17.8	15
Stock-based compensation expense	21.5	31.4
Deferred income tax benefit	(7.2)	(16.5)
Gain on sales of assets	(0.5)	(0.6)
Changes in operating assets and liabilities, net of effects of acquisitions:
Trade and other accounts receivable	(28.1)	(38.3)
Contract receivables	(15.4)	(27.9)
Inventories	8.6	(21)
Prepaid expenses and other current assets	10.5	30.3
Accounts payable	33.6	4.3
Accrued and other liabilities	(45.8)	(7.7)
Net cash provided by operating activities	924	857.3
Investing activities:
Additions to finance receivables	(731.3)	(779.8)
Collections of finance receivables	629.3	626.5
Capital expenditures	(65.4)	(73.9)
Disposals of property and equipment	2	1.5
Other	1.5	(1.5)
Net cash used by investing activities	(163.9)	(227.2)
Financing activities:
Net decrease in other short-term borrowings	(0.9)	0
Cash dividends paid	(294.1)	(257.6)
Purchases of treasury stock	(177.5)	(233.8)
Proceeds from stock purchase plans and stock option exercises	61.6	94.5
Other	(37.4)	(27)
Net cash used by financing activities	(448.3)	(423.9)
Effect of exchange rate changes on cash and cash equivalents	0	(4.1)
Increase in cash and cash equivalents	311.8	202.1
Cash and cash equivalents at beginning of year	1,001.5	757.2
Cash and cash equivalents at end of period	1,313.3	959.3
Supplemental cash flow disclosures:
Cash paid for interest	(35.8)	(36.1)
Net cash paid for income taxes	$ (243.9)	$ (224.5)

Summary of Accounting Policies

Summary of Accounting Policies	9 Months Ended
	Sep. 28, 2024
Accounting Policies [Abstract]
Summary of Accounting Policies	Summary of Accounting Policies Principles of consolidation and presentation The Condensed Consolidated Financial Statements include the accounts of Snap-on Incorporated and its wholly owned and majority-owned subsidiaries (collectively, “Snap-on” or the “company”). These financial statements should be read in conjunction with, and have been prepared in conformity with, the accounting principles reflected in the consolidated financial statements and related notes included in Snap-on’s 2023 Annual Report on Form 10-K for the fiscal year ended December 30, 2023 (“2023 year end”). The company’s 2024 fiscal third quarter ended on September 28, 2024, and its 2023 fiscal third quarter ended on September 30, 2023. The company’s 2024 and 2023 fiscal third quarters each contained 13 weeks of operating results. Snap-on’s Condensed Consolidated Financial Statements are prepared in conformity with generally accepted accounting principles in the United States of America (“GAAP”). In the opinion of management, all adjustments (consisting of normal recurring adjustments) necessary for the fair presentation of the Condensed Consolidated Financial Statements for the three and nine month periods ended September 28, 2024, and September 30, 2023, have been made. Interim results of operations are not necessarily indicative of the results to be expected for the full fiscal year. Use of Estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Financial Instruments The fair value of the company’s derivative financial instruments is generally determined using quoted prices in active markets for similar assets and liabilities. The carrying value of the company’s non-derivative financial instruments either approximates fair value, due to their short-term nature, or the amount disclosed for fair value is based upon a discounted cash flow analysis or quoted market values. See Note 9 for additional information on financial instruments. New Accounting Standards In December 2023, the FASB issued ASU No. 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures , which requires disaggregated information about a reporting entity’s effective tax rate reconciliation as well as information on income taxes paid. ASU No. 2023-09 is effective for annual periods beginning after December 15, 2024. The guidance is to be applied on a prospective basis with the option to apply the standard retrospectively; this ASU allows for early adoption. The adoption of this ASU is not expected to have a material impact on Snap-on’s Condensed Consolidated Financial Statements. In November 2023, the FASB issued ASU No. 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures , which requires the disclosure of additional segment information. ASU No. 2023-07 is effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024. The adoption of this ASU is not expected to have a material impact on Snap-on’s Condensed Consolidated Financial Statements.

Revenue Recognition

Revenue Recognition	9 Months Ended
	Sep. 28, 2024
Revenue from Contract with Customer [Abstract]
Revenue Recognition	Revenue Recognition Snap-on recognizes revenue from the sale of tools, diagnostics, equipment, and related services based on when control of the product passes to the customer or the service is provided and is recognized at an amount that reflects the consideration expected to be received in exchange for such goods or services. Revenue Disaggregation: The following table shows the consolidated revenues by revenue source: Three Months Ended Nine Months Ended (Amounts in millions) September 28, 2024 September 30, 2023 September 28, 2024 September 30, 2023 Revenue from contracts with customers $ 1,139.3 $ 1,152.2 $ 3,486.5 $ 3,513.3 Other revenues 7.7 7.1 22.2 20.3 Total net sales 1,147.0 1,159.3 3,508.7 3,533.6 Financial services revenue 100.4 94.9 300.5 280.9 Total revenues $ 1,247.4 $ 1,254.2 $ 3,809.2 $ 3,814.5 Snap-on evaluates the performance of its operating segments based on segment revenues and segment operating earnings. The Snap-on Tools Group segment revenues include external net sales, while the Commercial & Industrial Group and the Repair Systems & Information Group segment revenues include both external and intersegment net sales. Snap-on accounts for intersegment net sales and transfers based primarily on standard costs with reasonable mark-ups established between the segments. Intersegment amounts are eliminated to arrive at Snap-on’s consolidated financial results. The following tables represent external net sales disaggregated by geography, based on the customers’ billing addresses: For the Three Months Ended September 28, 2024 Commercial Snap-on Repair Systems & Industrial Tools & Information Financial Snap-on (Amounts in millions) Group Group Group Services Eliminations Incorporated Net sales: North America* $ 155.2 $ 434.0 $ 273.9 $ — $ — $ 863.1 Europe 72.2 37.4 58.7 — — 168.3 All other 61.3 29.1 25.2 — — 115.6 External net sales 288.7 500.5 357.8 — — 1,147.0 Intersegment net sales 77.0 — 64.9 — (141.9) — Total net sales 365.7 500.5 422.7 — (141.9) 1,147.0 Financial services revenue — — — 100.4 — 100.4 Total revenue $ 365.7 $ 500.5 $ 422.7 $ 100.4 $ (141.9) $ 1,247.4 For the Nine Months Ended September 28, 2024 Commercial Snap-on Repair Systems & Industrial Tools & Information Financial Snap-on (Amounts in millions) Group Group Group Services Eliminations Incorporated Net sales: North America* $ 467.3 $ 1,280.7 $ 874.2 $ — $ — $ 2,622.2 Europe 230.0 118.4 188.0 — — 536.4 All other 187.4 83.5 79.2 — — 350.1 External net sales 884.7 1,482.6 1,141.4 — — 3,508.7 Intersegment net sales 212.9 — 199.9 — (412.8) — Total net sales 1,097.6 1,482.6 1,341.3 — (412.8) 3,508.7 Financial services revenue — — — 300.5 — 300.5 Total revenue $ 1,097.6 $ 1,482.6 $ 1,341.3 $ 300.5 $ (412.8) $ 3,809.2 * North America is comprised of the United States, Canada and Mexico. For the Three Months Ended September 30, 2023 Commercial Snap-on Repair Systems & Industrial Tools & Information Financial Snap-on (Amounts in millions) Group Group Group Services Eliminations Incorporated Net sales: North America* $ 146.4 $ 451.4 $ 282.0 $ — $ — $ 879.8 Europe 69.6 37.5 54.0 — — 161.1 All other 64.5 26.5 27.4 — — 118.4 External net sales 280.5 515.4 363.4 — — 1,159.3 Intersegment net sales 85.9 — 68.4 — (154.3) — Total net sales 366.4 515.4 431.8 — (154.3) 1,159.3 Financial services revenue — — — 94.9 — 94.9 Total revenue $ 366.4 $ 515.4 $ 431.8 $ 94.9 $ (154.3) $ 1,254.2 For the Nine Months Ended September 30, 2023 Commercial Snap-on Repair Systems & Industrial Tools & Information Financial Snap-on (Amounts in millions) Group Group Group Services Eliminations Incorporated Net sales: North America* $ 428.3 $ 1,384.6 $ 849.7 $ — $ — $ 2,662.6 Europe 220.1 112.2 180.8 — — 513.1 All other 200.5 78.7 78.7 — — 357.9 External net sales 848.9 1,575.5 1,109.2 — — 3,533.6 Intersegment net sales 245.5 — 221.2 — (466.7) — Total net sales 1,094.4 1,575.5 1,330.4 — (466.7) 3,533.6 Financial services revenue — — — 280.9 — 280.9 Total revenue $ 1,094.4 $ 1,575.5 $ 1,330.4 $ 280.9 $ (466.7) $ 3,814.5 * North America is comprised of the United States, Canada and Mexico. The following tables represent external net sales disaggregated by customer type: For the Three Months Ended September 28, 2024 Commercial Snap-on Repair Systems & Industrial Tools & Information Financial Snap-on (Amounts in millions) Group Group Group Services Eliminations Incorporated Net sales: Vehicle service professionals $ 20.1 $ 500.5 $ 357.8 $ — $ — $ 878.4 All other professionals 268.6 — — — — 268.6 External net sales 288.7 500.5 357.8 — — 1,147.0 Intersegment net sales 77.0 — 64.9 — (141.9) — Total net sales 365.7 500.5 422.7 — (141.9) 1,147.0 Financial services revenue — — — 100.4 — 100.4 Total revenue $ 365.7 $ 500.5 $ 422.7 $ 100.4 $ (141.9) $ 1,247.4 For the Nine Months Ended September 28, 2024 Commercial Snap-on Repair Systems & Industrial Tools & Information Financial Snap-on (Amounts in millions) Group Group Group Services Eliminations Incorporated Net sales: Vehicle service professionals $ 61.4 $ 1,482.6 $ 1,141.4 $ — $ — $ 2,685.4 All other professionals 823.3 — — — — 823.3 External net sales 884.7 1,482.6 1,141.4 — — 3,508.7 Intersegment net sales 212.9 — 199.9 — (412.8) — Total net sales 1,097.6 1,482.6 1,341.3 — (412.8) 3,508.7 Financial services revenue — — — 300.5 — 300.5 Total revenue $ 1,097.6 $ 1,482.6 $ 1,341.3 $ 300.5 $ (412.8) $ 3,809.2 For the Three Months Ended September 30, 2023 Commercial Snap-on Repair Systems & Industrial Tools & Information Financial Snap-on (Amounts in millions) Group Group Group Services Eliminations Incorporated Net sales: Vehicle service professionals $ 19.4 $ 515.4 $ 363.4 $ — $ — $ 898.2 All other professionals 261.1 — — — — 261.1 External net sales 280.5 515.4 363.4 — — 1,159.3 Intersegment net sales 85.9 — 68.4 — (154.3) — Total net sales 366.4 515.4 431.8 — (154.3) 1,159.3 Financial services revenue — — — 94.9 — 94.9 Total revenue $ 366.4 $ 515.4 $ 431.8 $ 94.9 $ (154.3) $ 1,254.2 For the Nine Months Ended September 30, 2023 Commercial Snap-on Repair Systems & Industrial Tools & Information Financial Snap-on (Amounts in millions) Group Group Group Services Eliminations Incorporated Net sales: Vehicle service professionals $ 62.2 $ 1,575.5 $ 1,109.2 $ — $ — $ 2,746.9 All other professionals 786.7 — — — — 786.7 External net sales 848.9 1,575.5 1,109.2 — — 3,533.6 Intersegment net sales 245.5 — 221.2 — (466.7) — Total net sales 1,094.4 1,575.5 1,330.4 — (466.7) 3,533.6 Financial services revenue — — — 280.9 — 280.9 Total revenue $ 1,094.4 $ 1,575.5 $ 1,330.4 $ 280.9 $ (466.7) $ 3,814.5 Nature of goods and services: Snap-on derives net sales from a broad line of products and complementary services that are grouped into three categories: (i) tools; (ii) diagnostics, information and management systems; and (iii) equipment. The tools product category includes hand tools, power tools, tool storage products and other similar products. The diagnostics, information and management systems product category includes handheld and computer-based diagnostic products, service and repair information products, diagnostic software solutions, electronic parts catalogs, business management systems and services, point-of-sale systems, integrated systems for vehicle service shops, original equipment manufacturer (“OEM”) purchasing facilitation services, and warranty management systems and analytics to help OEM dealership service and repair shops (“OEM dealerships”) manage and track performance. The equipment product category includes solutions for the service of vehicles and industrial equipment. Snap-on supports the sale of its diagnostics and vehicle service shop equipment by offering training programs as well as after-sales support to its customers. Through its financial services businesses, Snap‑on derives revenue from various financing programs designed to facilitate the sales of its products and support its franchise business. Approximately 90% of Snap-on’s net sales are products sold at a point in time through ship-and-bill performance obligations that also include repair services. The remaining sales revenue is earned over time primarily for software subscriptions, other subscription service agreements and extended warranty programs. Snap-on enters into contracts related to the selling of tools, diagnostics, repair information, equipment and related services. At contract inception, an assessment of the goods and services promised in the contracts with customers is performed and a performance obligation is identified for each distinct promise to transfer to the customer a good or service (or bundle of goods or services). To identify the performance obligations, Snap-on considers all of the goods or services promised in the contract regardless of whether they are explicitly stated or are implied by customary business practices. Contracts with customers are comprised of customer purchase orders, invoices and written contracts. For certain performance obligations related to software subscriptions, extended warranty and other subscription agreements that are settled over time, Snap-on has elected not to disclose the value of unsatisfied performance obligations for: (i) contracts that have an original expected length of one year or less; (ii) contracts where revenue is recognized as invoiced; and (iii) contracts with variable consideration related to unsatisfied performance obligations. The remaining duration of these unsatisfied performance obligations range from one month up to 60 months. Snap-on had approximately $183.0 million of long-term contracts that have fixed consideration that extends beyond one year as of September 28, 2024. Snap-on expects to recognize approximately 55% of these contracts as revenue by the end of fiscal 2025, an additional 40% by the end of fiscal 2027, and the balance thereafter. Contract liabilities: Contract liabilities are recorded when cash payments are received in advance of Snap-on’s performance. The timing of payment is typically on a monthly, quarterly or annual basis. The balance of total contract liabilities was $67.4 million and $63.3 million at September 28, 2024, and December 30, 2023, respectively. The current portion of contract liabilities is included in “Other accrued liabilities” and the non-current portion of such liabilities is included in “Other long-term liabilities” on the accompanying Condensed Consolidated Balance Sheets. During the three and nine month periods ended September 28, 2024, Snap-on recognized $4.5 million and $53.3 million of revenue that was included in the $63.3 million contract liability balance at December 30, 2023, which was primarily from the amortization of software subscriptions, extended warranties and other subscription agreements.

Acquisitions

Acquisitions	9 Months Ended
	Sep. 28, 2024
Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract]
Acquisitions	Acquisitions On November 20, 2023, Snap-on acquired certain assets of SAVTEQ, Inc. (“SAVTEQ”) for a cash purchase price of $3.0 million. SAVTEQ, based in Lexington, Kentucky, provides precise non-contact measuring capabilities. In fiscal 2023, the company completed the purchase accounting valuations for the acquired net assets of SAVTEQ. The $1.7 million excess of the purchase price over the fair value of the net assets acquired was recorded in “Goodwill” on the accompanying Condensed Consolidated Balance Sheets. On November 1, 2023, Snap-on acquired Mountz, Inc. (“Mountz”) for a cash purchase price of $39.6 million. Mountz, based in San Jose, California, is a leading developer, manufacturer and marketer of high-precision torque tools, including measurement, calibration and documentation products. The company completed the purchase accounting valuations for the acquired net assets of Mountz in the first quarter of 2024. The $19.8 million excess of the purchase price over the fair value of the net assets acquired was recorded in “Goodwill” on the accompanying Condensed Consolidated Balance Sheets. For segment reporting purposes, the results of operations and assets of SAVTEQ have been included in the Repair Systems & Information Group and the results of operations and assets of Mountz have been included in the Commercial & Industrial Group since the respective acquisition dates. Pro forma financial information has not been presented for these acquisitions as the net effects, individually and collectively, were neither significant nor material to Snap-on’s results of operations or financial position. See Note 6 for additional information on goodwill and other intangible assets.

Receivables

Receivables	9 Months Ended
	Sep. 28, 2024
Receivables [Abstract]
Receivables	Receivables Trade and other accounts receivable: Snap-on’s trade and other accounts receivable primarily arise from the sale of tools, diagnostics, and equipment products to a broad range of industrial and commercial customers and to Snap-on’s independent franchise van channel with payment terms generally ranging from 30 to 120 days. The components of Snap-on’s trade and other accounts receivable as of September 28, 2024, and December 30, 2023, are as follows: (Amounts in millions) September 28, December 30, 2023 Trade and other accounts receivable $ 834.5 $ 826.2 Allowances for credit losses (38.1) (34.9) Total trade and other accounts receivable – net $ 796.4 $ 791.3 The following is a rollforward of the allowances for credit losses related to trade and other accounts receivable for the three and nine month periods ended September 28, 2024, and September 30, 2023: Three Months Ended Nine Months Ended (Amounts in millions) September 28, 2024 September 30, 2023 September 28, 2024 September 30, 2023 Allowances for credit losses: Beginning of period $ 36.5 $ 32.3 $ 34.9 $ 31.1 Provision for credit losses 5.3 5.5 16.2 13.7 Charge-offs (4.3) (3.6) (12.9) (10.9) Recoveries 0.1 — 0.2 — Currency translation 0.5 (0.4) (0.3) (0.1) End of period $ 38.1 $ 33.8 $ 38.1 $ 33.8 Finance and contract receivables: Snap-on Credit LLC (“SOC”), the company’s financial services operation in the United States, originates extended-term finance and contract receivables on sales of Snap-on’s products sold through the U.S. franchisee network and to certain other customers of Snap-on; Snap-on’s foreign finance subsidiaries provide similar financing internationally. Interest income on finance and contract receivables is included in “Financial services revenue” on the accompanying Condensed Consolidated Statements of Earnings. Finance receivables are comprised of extended-term payment contracts to both technicians and independent shop owners (i.e., franchisees’ customers) to enable them to purchase tools, diagnostics, and equipment products on an extended-term payment plan, with average payment terms of approximately four years. Contract receivables, with payment terms of up to 10 years, are comprised of extended-term payment contracts to a broad base of customers worldwide, including shop owners, both independents and national chains, for their purchase of tools, diagnostics, and equipment products, as well as extended-term contracts to franchisees to meet a number of financing needs, including working capital loans, loans to enable new franchisees to fund the purchase of the franchise and van leases, or the expansion of an existing franchise. Finance and contract receivables are generally secured by the underlying tools, diagnostics and/or equipment products financed and, for contracts to franchisees, other franchisee assets. The components of Snap-on’s current finance and contract receivables as of September 28, 2024, and December 30, 2023, are as follows: (Amounts in millions) September 28, December 30, 2023 Finance installment receivables $ 630.4 $ 605.2 Finance lease receivables, net of unearned finance charges of $6.4 million and $3.4 million, respectively 17.0 10.1 Total finance receivables 647.4 615.3 Contract installment receivables 61.9 59.9 Contract lease receivables, net of unearned finance charges of $22.1 million and $21.1 million, respectively 62.0 62.7 Total contract receivables 123.9 122.6 Total 771.3 737.9 Allowances for credit losses: Finance installment receivables (22.4) (21.1) Finance lease receivables (0.3) (0.1) Total finance allowances for credit losses (22.7) (21.2) Contract installment receivables (0.9) (0.9) Contract lease receivables (0.9) (0.9) Total contract allowances for credit losses (1.8) (1.8) Total allowances for credit losses (24.5) (23.0) Total current finance and contract receivables – net $ 746.8 $ 714.9 Finance receivables – net $ 624.7 $ 594.1 Contract receivables – net 122.1 120.8 Total current finance and contract receivables – net $ 746.8 $ 714.9 The components of Snap-on’s finance and contract receivables with payment terms beyond one year as of September 28, 2024, and December 30, 2023, are as follows: (Amounts in millions) September 28, December 30, 2023 Finance installment receivables $ 1,334.1 $ 1,318.5 Finance lease receivables, net of unearned finance charges of $5.5 million and $2.8 million, respectively 23.2 12.3 Total finance receivables 1,357.3 1,330.8 Contract installment receivables 225.0 216.0 Contract lease receivables, net of unearned finance charges of $37.0 million and $35.1 million, respectively 202.2 196.8 Total contract receivables 427.2 412.8 Total 1,784.5 1,743.6 Allowances for credit losses: Finance installment receivables (47.8) (46.4) Finance lease receivables (0.5) (0.2) Total finance allowances for credit losses (48.3) (46.6) Contract installment receivables (3.3) (3.1) Contract lease receivables (1.8) (1.8) Total contract allowances for credit losses (5.1) (4.9) Total allowances for credit losses (53.4) (51.5) Total long-term finance and contract receivables – net $ 1,731.1 $ 1,692.1 Finance receivables – net $ 1,309.0 $ 1,284.2 Contract receivables – net 422.1 407.9 Total long-term finance and contract receivables – net $ 1,731.1 $ 1,692.1 Credit quality: The company’s receivable portfolio is comprised of two portfolio segments, finance and contract receivables, which are the same segments used to estimate expected credit losses reported in the allowances for credit losses. The amortized cost basis for finance and contract receivables is the amount originated adjusted for applicable accrued interest and net of deferred fees or costs, collections, and write-offs. The company monitors and assesses credit risk based on the characteristics of each portfolio segment. When extending credit, Snap-on evaluates the collectability of the receivables based on a combination of various financial and qualitative factors that may affect a customer’s ability to pay. These factors may include the customer’s financial condition, past payment experience, and credit bureau and proprietary Snap-on credit model information, as well as the value of the underlying collateral. For finance and contract receivables, Snap-on assesses quantitative and qualitative factors through the use of credit quality indicators consisting primarily of delinquency classification, collection experience and credit exposure by customer. Delinquency is the primary indicator of credit quality for finance and contract receivables. Snap-on conducts monthly reviews of credit and collection performance for both the finance and contract receivable portfolios focusing on data such as delinquency trends, nonaccrual receivables, and write-off and recovery activity. These reviews allow for the formulation of collection strategies and potential collection policy modifications in response to changing risk profiles in the finance and contract receivable portfolios. The company also maintains a system that aggregates credit exposure and provides delinquency data by days past due aging categories. A receivable 30 days or more past due is considered delinquent. However, customer receivables are monitored prior to becoming 30 days past due. The amortized cost basis of finance and contract receivables by origination year as of September 28, 2024, and charge-offs recorded in the nine months ended September 28, 2024, by origination year, are as follows: (Amounts in millions) 2024 2023 2022 2021 2020 Prior Total Finance receivables: Delinquent $ 14.4 $ 25.7 $ 12.2 $ 5.8 $ 2.9 $ 1.1 $ 62.1 Non-delinquent 1,104.6 553.1 191.4 65.3 23.7 4.5 1,942.6 Total Finance receivables $ 1,119.0 $ 578.8 $ 203.6 $ 71.1 $ 26.6 $ 5.6 $ 2,004.7 Finance receivables charge-offs $ 2.0 $ 25.8 $ 15.3 $ 6.5 $ 3.4 $ 1.7 $ 54.7 Contract receivables: Delinquent $ 0.3 $ 0.6 $ 1.0 $ 0.4 $ 0.5 $ 0.4 $ 3.2 Non-delinquent 158.0 151.0 98.0 62.8 39.9 38.2 547.9 Total Contract receivables $ 158.3 $ 151.6 $ 99.0 $ 63.2 $ 40.4 $ 38.6 $ 551.1 Contract receivables charge-offs $ — $ 0.3 $ 0.5 $ 0.4 $ 0.3 $ 0.3 $ 1.8 Allowances for credit losses: The allowances for credit losses are maintained at levels that are considered adequate to cover expected credit losses over the remaining contractual life of the receivables using historical loss experience, asset specific risk characteristics, current conditions, reasonable and supportable forecasts, and an appropriate reversion period, when applicable. Management performs detailed reviews of its receivables on a monthly and/or quarterly basis to assess the adequacy of the allowances and to determine if any impairment has occurred. A receivable generally has credit losses when it is expected that all amounts related to the receivable will not be collected according to the contractual terms of the agreement. Amounts determined to be uncollectable are charged directly against the allowances, while amounts recovered on previously written off accounts increase the allowances. For both finance and contract receivables, write-offs include the uncollectable principal amount of the receivable as well as the uncollectable accrued interest and fees, net of repossessions. For finance receivables only, write-offs are partially offset by recourse from franchisees. Recovered interest and fees previously written off are recorded through the allowances for credit losses and increase the allowances. Absent a repossession, finance receivables are typically written off when an account reaches 120 days past due. Repossessed accounts are typically written off within 60 days of asset repossession. Contract receivables related to equipment leases are generally written off when an account becomes 150 days past due, while contract receivables related to franchise finance and van leases are generally written off no later than when the receivable becomes 180 days past the asset return date. For finance and contract receivables, customer bankruptcies are generally written off upon notification that the associated debt is not being reaffirmed or, in any event, no later than when the receivable becomes 180 days past due. Changes to the allowances for credit losses are maintained through adjustments to the provisions for credit losses. For finance receivables, the company uses a vintage loss rate methodology to determine expected losses. Vintage analysis aims to calculate losses based on the timing of the losses relative to the origination of the receivables. The finance receivable portfolio contains a substantial amount of homogeneous contracts which fits well with the vintage analysis. For contract receivables, the company primarily uses a Weighted-Average Remaining Maturity (“WARM”) methodology. The WARM methodology calculates the average annual write-off rate and applies it to the remaining term of the receivables. The WARM methodology is used since contract receivables have limited loss experience over generally longer terms and, therefore, the predictive loss patterns are more difficult to estimate. The company performed a correlation analysis to compare historical losses to many economic factors. The primary economic factors considered were real gross domestic product, civilian unemployment, industrial production index, and repair and maintenance employment rate; the company determined that there is limited correlation between the historical losses and economic factors. As a result, consideration was given to qualitative factors to adjust the reserve balance for asset specific risk characteristics, current conditions and future expectations. Similar qualitative factors are considered for both finance and contract receivables. The qualitative factors used in determining the estimate of expected credit losses are influenced by the changes in the composition of the portfolio, underwriting practices, and other relevant conditions that were different from the historical periods. The allowances for credit losses are adjusted each period for changes in the credit risk and expected lifetime credit losses. The following is a rollforward of the allowances for credit losses for finance and contract receivables for the three and nine month periods ended September 28, 2024, and September 30, 2023: Three Months Ended Nine Months Ended (Amounts in millions) Finance Contract Finance Contract Allowances for credit losses: Beginning of period $ 71.1 $ 6.8 $ 67.8 $ 6.7 Provision for credit losses 15.2 0.7 50.6 1.6 Charge-offs (17.7) (0.8) (54.7) (1.8) Recoveries 2.2 0.1 7.2 0.3 Currency translation 0.2 0.1 0.1 0.1 End of period $ 71.0 $ 6.9 $ 71.0 $ 6.9 Three Months Ended Nine Months Ended (Amounts in millions) Finance Receivables Contract Receivables Finance Receivables Contract Receivables Allowances for credit losses: Beginning of period $ 65.1 $ 6.5 $ 60.9 $ 6.6 Provision for credit losses 12.8 0.7 40.7 1.3 Charge-offs (13.7) (0.7) (42.1) (1.6) Recoveries 1.9 0.1 6.5 0.3 Currency translation (0.1) (0.1) — (0.1) End of period $ 66.0 $ 6.5 $ 66.0 $ 6.5 Past due: Depending on the contract, payments for finance and contract receivables are due on a monthly or weekly basis. Weekly payments are converted into a monthly equivalent for purposes of calculating delinquency. Delinquencies are assessed at the end of each month following the monthly equivalent contractual payment due date. The entire receivable balance of a contract is considered delinquent when contractual payments become 30 days past due. Removal from delinquent status occurs when the cumulative amount of monthly contractual payments then due have been received by the company. It is the general practice of Snap-on’s financial services business not to engage in contract or loan modifications. In limited instances, Snap-on’s financial services business may modify certain receivables. The amount and number of finance and contract receivable modifications as of September 28, 2024, and December 30, 2023, were immaterial to both the financial services portfolio and the company’s results of operations and financial position. The aging of finance and contract receivables as of September 28, 2024, and December 30, 2023, is as follows: (Amounts in millions) 30-59 60-90 Greater Total Past Total Not Total Greater September 28, 2024: Finance receivables $ 21.9 $ 14.5 $ 25.7 $ 62.1 $ 1,942.6 $ 2,004.7 $ 21.8 Contract receivables 1.2 0.5 1.5 3.2 547.9 551.1 0.2 December 30, 2023: Finance receivables $ 21.5 $ 13.6 $ 23.2 $ 58.3 $ 1,887.8 $ 1,946.1 $ 19.9 Contract receivables 1.5 0.6 1.2 3.3 532.1 535.4 0.2 Nonaccrual: SOC maintains the accrual of interest income during the progression through the various stages of delinquency prior to processing for write-off. At the time of write-off, the entire balance including the accrued but unpaid interest income amount is recorded as a loss. Finance receivables are generally placed on nonaccrual status (nonaccrual of interest and other fees): (i) when a customer is placed on repossession status; (ii) upon receipt of notification of bankruptcy; (iii) upon notification of the death of a customer; or (iv) in other instances in which management concludes collectability is not reasonably assured. Contract receivables are generally placed on nonaccrual status: (i) when a receivable is more than 90 days past due or at the point a customer’s account is placed on terminated status regardless of its delinquency status; (ii) upon notification of the death of a customer; or (iii) in other instances in which management concludes collectability is not reasonably assured. The accrual of interest and other fees is resumed when the finance or contract receivable becomes contractually current and collection of all remaining contractual amounts due is reasonably assured. A receivable may have credit losses when it is expected that all amounts related to the receivable will not be collected according to the contractual terms of the applicable agreement. Such finance and contract receivables are covered by the company’s respective allowances for credit losses and are written-off against the allowances when appropriate. The amount of finance and contract receivables on nonaccrual status as of September 28, 2024, and December 30, 2023, is as follows: (Amounts in millions) September 28, December 30, 2023 Finance receivables $ 11.8 $ 10.6 Contract receivables 2.4 3.3

Inventories

Inventories	9 Months Ended
	Sep. 28, 2024
Inventory Disclosure [Abstract]
Inventories	Inventories Inventories by major classification are as follows: (Amounts in millions) September 28, December 30, 2023 Finished goods $ 873.3 $ 874.6 Work in progress 78.4 76.1 Raw materials 169.8 171.1 Total FIFO value 1,121.5 1,121.8 Excess of current cost over LIFO cost (125.7) (115.9) Total inventories – net $ 995.8 $ 1,005.9 Inventories accounted for using the first-in, first-out (“FIFO”) method approximated 58% and 59% of total inventories as of September 28, 2024, and December 30, 2023. The company accounts for its non-U.S. inventory on the FIFO method. As of September 28, 2024, approximately 35% of the company’s U.S. inventory was accounted for using the FIFO method and 65% was accounted for using the last-in, first-out (“LIFO”) method. There were no LIFO inventory liquidations in the three and nine month periods ended September 28, 2024, and September 30, 2023.

Goodwill and Other Intangible A

Goodwill and Other Intangible Assets	9 Months Ended
	Sep. 28, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Other Intangible Assets	Goodwill and Other Intangible Assets The changes in the carrying amount of goodwill by segment for the nine months ended September 28, 2024, are as follows: (Amounts in millions) Commercial Snap-on Repair Systems Total Balance as of December 30, 2023 $ 346.6 $ 12.4 $ 738.4 $ 1,097.4 Currency translation 1.2 — 1.2 2.4 Acquisition adjustments (13.2) — — (13.2) Balance as of September 28, 2024 $ 334.6 $ 12.4 $ 739.6 $ 1,086.6 Goodwill of $1,086.6 million as of September 28, 2024, includes $19.8 million from the acquisition of Mountz. In the first quarter of 2024, the purchase accounting valuations for the acquired net assets of Mountz were completed, resulting in a reduction of goodwill of $13.2 million from year end 2023. See Note 3 for additional information on acquisitions. Additional disclosures related to other intangible assets are as follows: September 28, 2024 December 30, 2023 (Amounts in millions) Gross Carrying Value Accumulated Net Carrying Value Gross Carrying Value Accumulated Net Carrying Value Amortized other intangible assets: Customer relationships $ 218.0 $ (165.7) $ 52.3 $ 214.5 $ (163.6) $ 50.9 Developed technology 36.6 (32.4) 4.2 36.2 (29.8) 6.4 Internally developed software 202.0 (156.6) 45.4 191.3 (148.2) 43.1 Patents 48.5 (21.2) 27.3 53.0 (26.8) 26.2 Trademarks 3.9 (2.5) 1.4 4.0 (2.5) 1.5 Other 6.3 (2.9) 3.4 6.2 (2.8) 3.4 Total 515.3 (381.3) 134.0 505.2 (373.7) 131.5 Non-amortized trademarks 143.3 — 143.3 137.4 — 137.4 Total other intangible assets $ 658.6 $ (381.3) $ 277.3 $ 642.6 $ (373.7) $ 268.9 The gross carrying value of customer relationships and non-amortized trademarks includes $8.7 million and $5.4 million, respectively, related to the Mountz acquisition. Snap-on completed its annual impairment testing of goodwill and other indefinite-lived intangible assets in the second quarter of 2024, the results of which did not result in any impairment. Provisions for the impairment of goodwill and/or other intangible assets could arise in a future period due to significant and unanticipated changes in circumstances, such as declines in profitability and cash flow due to long-term deterioration in macroeconomic, industry and market conditions, the loss of key customers, changes in technology or markets, changes in key personnel or litigation, a sustained decrease in share price and/or other events. As of September 28, 2024, the company had no accumulated impairment losses. The weighted-average amortization periods related to other intangible assets are as follows: In Years Customer relationships 14 Developed technology 5 Internally developed software 6 Patents 15 Trademarks 9 Other 39 The weighted-average amortization period for all amortizable intangible assets on a combined basis is 12 years. Intangible asset renewal costs are expensed as incurred. The aggregate amortization expense was $6.3 million and $19.0 million for the respective three and nine month periods ended September 28, 2024, and $6.8 million and $20.7 million for the respective three and nine month periods ended September 30, 2023. Based on current levels of amortizable intangible assets and estimated weighted-average useful lives, estimated annual amortization expense is expected to be $25.4 million in 2024, $21.0 million in 2025, $16.1 million in 2026, $13.4 million in 2027, $11.4 million in 2028, and $8.2 million in 2029.

Income Taxes

Income Taxes	9 Months Ended
	Sep. 28, 2024
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes Snap-on’s effective income tax rate on earnings attributable to Snap-on was 22.6% and 22.9% in the first nine months of fiscal 2024 and 2023, respectively. Snap-on and its subsidiaries file income tax returns in the United States and in various state, local and foreign jurisdictions. It is reasonably possible that certain unrecognized tax benefits may either be settled with taxing authorities or the statutes of limitations for such items may lapse within the next 12 months, causing Snap-on’s gross unrecognized tax benefits to decrease by a range of zero to $0.6 million. Over the next 12 months, Snap-on anticipates taking certain tax positions on various tax returns for which the related tax benefit does not meet the recognition threshold. Accordingly, Snap-on’s gross unrecognized tax benefits may increase by a range of zero to $0.9 million over the next 12 months for uncertain tax positions expected to be taken in future tax filings.

Short-term and Long-term Debt

Short-term and Long-term Debt	9 Months Ended
	Sep. 28, 2024
Debt Disclosure [Abstract]
Short-term and Long-term Debt	Short-term and Long-term Debt Short-term and long-term debt as of September 28, 2024, and December 30, 2023, consisted of the following: (Amounts in millions) September 28, December 30, 2023 3.25% unsecured notes due 2027 $ 300.0 $ 300.0 4.10% unsecured notes due 2048 400.0 400.0 3.10% unsecured notes due 2050 500.0 500.0 Other debt* (0.4) 0.2 1,199.6 1,200.2 Less: notes payable (14.3) (15.6) Total long-term debt $ 1,185.3 $ 1,184.6 * Includes unamortized debt issuance costs and issuance discounts. S nap-on has a $900 million multicurrency revolving credit facility that terminates on September 12, 2028 (the “Credit Facility”). The Credit Facility contains an accordion feature that, subject to certain customary conditions, may allow the maximum commitment to be increased by up to $450 million with the approval of the lenders providing additional commitments. No amounts were borrowed or outstanding under the Credit Facility during the nine months ended and as of September 28, 2024. Borrowings under the Credit Facility bear interest at varying rates based on either: (i) Snap-on’s then-current, long-term debt ratings; or (ii) Snap-on’s then-current ratio of consolidated debt net of certain cash adjustments (“Consolidated Net Debt”) to earnings before interest, taxes, depreciation, amortization and certain other adjustments for the preceding four fiscal quarters then ended (the “Consolidated Net Debt to EBITDA Ratio”). The Credit Facility’s financial covenant requires that Snap-on maintain, as of each fiscal quarter end, either (i) a ratio not greater than 0.60 to 1.00 of Consolidated Net Debt to the sum of Consolidated Net Debt plus total equity and less accumulated other comprehensive income or loss (the “Leverage Ratio”); or (ii) a Consolidated Net Debt to EBITDA Ratio not greater than 3.50 to 1.00. Snap-on may, up to two times during any five-year period during the term of the Credit Facility (including any extensions thereof), elect to increase the maximum Leverage Ratio to 0.65 to 1.00 and/or increase the maximum Consolidated Net Debt to EBITDA Ratio to 4.00 to 1.00 for four consecutive fiscal quarters in connection with certain material acquisitions (as defined in the related credit agreement). As of September 28, 2024, the company’s consolidated cash balance, net of certain adjustments, exceeded consolidated debt resulting in actual ratios of (0.01) and (0.03), respectively. Both ratios are within the permitted ranges set forth in this financial covenant. Snap-on generally issues commercial paper to fund its financing needs on a short-term basis and uses the Credit Facility as back-up liquidity to support such commercial paper issuances. As of September 28, 2024, there were no commercial paper issuances outstanding.

Financial Instruments

Financial Instruments	9 Months Ended
	Sep. 28, 2024
Fair Value Disclosures [Abstract]
Financial Instruments	Financial Instruments Derivatives: All derivative instruments are reported in the Condensed Consolidated Financial Statements at fair value. Changes in the fair value of derivatives are recorded each period in earnings or on the accompanying Condensed Consolidated Balance Sheets, depending on whether the derivative is designated and effective as part of a hedged transaction. Gains or losses on derivative instruments recorded in earnings are presented in the same Condensed Consolidated Statement of Earnings line that is used to present the earnings effect of the hedged item. Gains or losses on derivative instruments in accumulated other comprehensive income (loss) (“Accumulated OCI”) are reclassified to earnings in the period in which earnings are affected by the underlying hedged item. The criteria used to determine if hedge accounting treatment is appropriate are: (i) the designation of the hedge to an underlying exposure; (ii) whether or not overall risk is being reduced; and (iii) if there is a correlation between the value of the derivative instrument and the underlying hedged item. Once a derivative contract is entered into, Snap-on designates the derivative as a fair value hedge, a cash flow hedge, a hedge of a net investment in a foreign operation, or a natural hedging instrument whose change in fair value is recognized as an economic hedge against changes in the value of the hedged item. Snap-on does not use derivative instruments for speculative or trading purposes. Snap-on is exposed to global market risks, including the effects of changes in foreign currency exchange rates, interest rates, and the company’s stock price. The company uses derivatives to manage financial exposures that occur in the normal course of business. The primary risks managed by using derivative instruments are foreign currency risk, interest rate risk and stock-based deferred compensation risk. Foreign currency risk management: Snap-on has significant international operations and is subject to certain risks inherent with foreign operations that include currency fluctuations. Foreign currency exchange risk exists to the extent that Snap-on has payment obligations or receipts denominated in currencies other than the functional currency, including intercompany loans denominated in foreign currencies. To manage these exposures, Snap-on identifies naturally offsetting positions and then purchases hedging instruments to protect the residual net exposures. Snap-on manages most of these exposures on a consolidated basis, which allows for netting of certain exposures to take advantage of natural offsets. Foreign currency forward contracts (“foreign currency forwards”) are used to hedge the net exposures. Gains or losses on net foreign currency hedges are intended to offset losses or gains on the underlying net exposures in an effort to reduce the earnings volatility resulting from fluctuating foreign currency exchange rates. Snap-on’s foreign currency forwards are typically not designated as hedges. The fair value changes of these contracts are reported in earnings as foreign exchange gain or loss, which is included in “Other income (expense) – net” on the accompanying Condensed Consolidated Statements of Earnings. See Note 16 for additional information on Other income (expense) – net. Interest rate risk management: Snap-on may manage the exposure created by the differing maturities and interest rate structures of Snap-on’s borrowings through the use of interest rate swap agreements (“interest rate swaps”) and treasury lock agreements (“treasury locks”). Interest rate swaps: Snap-on may enter into interest rate swaps to manage risks associated with changing interest rates related to the company’s fixed rate borrowings. Interest rate swaps are accounted for as fair value hedges. The differentials paid or received on interest rate swaps are recognized as adjustments to “Interest expense” on the accompanying Condensed Consolidated Statements of Earnings. The change in the fair value of the derivative is recorded in “Long-term debt” on the accompanying Condensed Consolidate d Balance Sheets. T here were no outstanding interest rate swaps as of both September 28, 2024, and December 30, 2023 . Treasury locks: Snap-on may use treasury locks to manage the potential change in interest rates in anticipation of the issuance of fixed rate debt. Treasury locks are accounted for as cash flow hedges. The differentials to be paid or received on treasury locks related to the anticipated issuance of fixed rate debt are initially recorded in Accumulated OCI for derivative instruments that are designated and qualify as cash flow hedges. Upon the issuance of debt, the related amount in Accumulated OCI is released over the term of the debt and recognized as an adjustment to interest expense on the Condensed Consolidated Statements of Earnings. There were no treasury locks outstanding as of both September 28, 2024, and December 30, 2023. See Note 16 for additional information on Other income (expense) – net. Stock-based deferred compensation risk management: Snap-on manages market risk associated with the stock-based portion of its deferred compensation plans through the use of prepaid equity forward agreements (“equity forwards”). Equity forwards are used to aid in offsetting the potential mark-to-market effect on stock-based deferred compensation from changes in Snap‑on’s stock price. Since stock-based deferred compensation liabilities increase as the company’s stock price rises and decrease as the company’s stock price declines, the equity forwards are intended to mitigate the potential impact on deferred compensation expense that may result from such mark-to-market changes. As of September 28, 2024, Snap-on had equity forwards in place intended to manage market risk with respect to 77,200 shares of Snap-on common stock associated with its deferred compensation plans. Counterparty risk: Snap-on is exposed to credit losses in the event of non-performance by the counterparties to its various financial agreements, including its foreign currency forward contracts, interest rate swap agreements, treasury lock agreements and prepaid equity forward agreements. Snap-on does not obtain collateral or other security to support financial instruments subject to credit risk, but monitors the credit standing of the counterparties and generally enters into agreements with financial institution counterparties with a credit rating of A- or better. Snap-on does not anticipate non-performance by its counterparties, but cannot provide assurances. Fair value of financial instruments: The fair values of financial instruments that do not approximate the carrying values in the financial statements are as follows: September 28, 2024 December 30, 2023 (Amounts in millions) Carrying Fair Carrying Fair Finance receivables – net $ 1,933.7 $ 2,208.3 $ 1,878.3 $ 2,138.7 Contract receivables – net 544.2 583.7 528.7 561.6 Long-term debt and notes payable 1,199.6 1,007.9 1,200.2 1,031.5 The following methods and assumptions are used in estimating the fair value of financial instruments: • Finance and contract receivables include both short-term and long-term receivables. The fair value estimates of finance and contract receivables are derived utilizing discounted cash flow analyses performed on groupings of receivables that are similar in terms of loan type and characteristics. The cash flow analyses consider recent prepayment trends where applicable. The cash flows are discounted over the average life of the receivables using a current market discount rate of a similar term adjusted for credit quality. Significant inputs to the fair value measurements of the receivables are unobservable and, as such, are classified as Level 3. • Fair value of long-term debt is estimated, using Level 2 fair value measurements, based on quoted market values of Snap-on’s publicly traded senior debt. The carrying value of long-term debt includes unamortized debt issuance costs and issuance discounts. The fair value of notes payable approximates such instruments’ carrying value due to their short-term nature. • The fair value of all other financial instruments, including trade and other accounts receivable, accounts payable and other financial instruments, approximates such instruments’ carrying value due to their short-term nature.

Pension Plans

Pension Plans	9 Months Ended
	Sep. 28, 2024
Retirement Benefits [Abstract]
Pension Plans	Pension Plans Snap-on’s net periodic pension benefit included the following components: Three Months Ended Nine Months Ended (Amounts in millions) September 28, 2024 September 30, 2023 September 28, 2024 September 30, 2023 Service cost $ 5.0 $ 4.7 $ 15.0 $ 14.1 Interest cost 16.4 16.3 49.2 49.0 Expected return on plan assets (25.5) (26.1) (76.3) (78.4) Amortization of unrecognized loss 2.3 0.4 6.9 1.1 Net periodic pension benefit $ (1.8) $ (4.7) $ (5.2) $ (14.2) The components of net periodic pension benefit, other than the service cost component, are included in “Other income (expense) – net” on the accompanying Condensed Consolidated Statements of Earnings. See Note 16 for additional information on other income (expense) – net. Snap-on intends to make contributions of $6.0 million to its foreign pension plans and $3.7 million to its domestic pension plans in 2024, as required by law. Depending on market and other conditions, Snap-on may make discretionary cash contributions to its pension plans in 2024.

Postretirement Health Care Plan

Postretirement Health Care Plans	9 Months Ended
	Sep. 28, 2024
Postemployment Benefits [Abstract]
Postretirement Health Care Plans	Postretirement Health Care Plans Snap-on’s net periodic postretirement health care cost included the following components: Three Months Ended Nine Months Ended (Amounts in millions) September 28, 2024 September 30, 2023 September 28, 2024 September 30, 2023 Interest cost $ 0.5 $ 0.4 $ 1.4 $ 1.5 Expected return on plan assets (0.2) (0.1) (0.5) (0.5) Amortization of unrecognized gain (0.3) (0.3) (0.9) (0.9) Net periodic postretirement health care cost $ — $ — $ — $ 0.1 The components of net periodic postretirement health care cost, other than the service cost component, are included in “Other income (expense) – net” on the accompanying Condensed Consolidated Statements of Earnings. See Note 16 for additional information on Other income (expense) – net.

Stock-based Compensation and Ot

Stock-based Compensation and Other Stock Plans	9 Months Ended
	Sep. 28, 2024
Share-Based Payment Arrangement [Abstract]
Stock-based Compensation and Other Stock Plans	Stock-based Compensation and Other Stock Plans The 2011 Incentive Stock and Awards Plan (the “2011 Plan”) provides for the grant of stock options, performance share units (“PSUs”), stock appreciation rights (“SARs”) and restricted stock awards (which may be designated as “restricted stock units” or “RSUs”). As of September 28, 2024, the 2011 Plan had 2,091,365 shares available for future grants. The company uses treasury stock to deliver shares under the 2011 Plan. Net stock-based compensation expense was $5.7 million and $21.5 million for the respective three and nine month periods ended September 28, 2024, and $11.0 million and $31.4 million for the respective three and nine month periods ended September 30, 2023. Cash received from stock purchase plans and stock option exercises totaled $9.9 million and $61.6 million during the respective three and nine month periods ended September 28, 2024, and $9.9 million and $94.5 million for the respective three and nine month periods ended September 30, 2023. The tax benefit realized from both the exercise and vesting of share-based payment arrangements was $1.8 million and $12.9 million for the respective three and nine month periods ended September 28, 2024, and $2.6 million and $13.1 million for the respective three and nine month periods ended September 30, 2023. Stock options: Stock options are granted with an exercise price equal to the market value of a share of Snap-on’s common stock on the date of grant and have a contractual term of 10 years. Stock option grants vest ratably on the first, second and third anniversaries of the date of grant. The fair value of each stock option award is estimated on the date of grant using the Black-Scholes valuation model. The company uses historical data regarding stock option exercise and forfeiture behaviors for different participating groups to estimate the period of time that stock options granted are expected to be outstanding. Expected volatility is based on the historical volatility of the company’s stock for the length of time corresponding to the expected term of the stock option. The expected dividend yield is based on the expected annual dividend as a percentage of the market value of our common stock as of the date of grant. The risk-free interest rate is based on the U.S. treasury yield curve on the grant date for the expected term of the stock option. The following weighted-average assumptions were used in calculating the fair value of stock options granted during the nine month periods ended September 28, 2024, and September 30, 2023, using the Black-Scholes valuation model; no stock options were granted during the three month periods ended September 28, 2024, and September 30, 2023: Nine Months Ended September 28, 2024 September 30, 2023 Expected term of stock option (in years) 4.90 4.89 Expected volatility factor 23.63% 23.99% Expected dividend yield 2.76% 2.60% Risk-free interest rate 4.30% 3.99% Below is a summary of stock option activity as of and for the nine months ended September 28, 2024: Shares (in thousands) Exercise Remaining Contractual Term* (in years) Aggregate Intrinsic Value (in millions) Outstanding at December 30, 2023 1,916 $ 177.79 Granted 233 269.01 Exercised (268) 167.84 Forfeited or expired (33) 245.05 Outstanding at September 28, 2024 1,848 189.56 5.3 $ 182.9 Exercisable at September 28, 2024 1,401 169.56 4.3 166.7 * Weighted-average The weighted-average grant date fair value of stock options granted during the nine month periods ended September 28, 2024, and September 30, 2023, was $55.07 and $51.09, respectively. The intrinsic value of stock options exercised was $7.3 million and $30.0 million during the respective three and nine month periods ended September 28, 2024, and $9.9 million and $57.0 million during the respective three and nine month periods ended September 30, 2023. The fair value of stock options vested was $9.5 million and $9.1 million during the respective nine month periods ended September 28, 2024, and September 30, 2023. As of September 28, 2024, there was $15.7 million of unrecognized compensation cost related to non-vested stock options that is expected to be recognized as a charge to earnings over a weighted-average period of 1.7 years. Performance share units: PSUs are earned and expensed using the fair value of the award over a contractual term of three years based on the company’s performance. Vesting of the PSUs is dependent upon performance relative to pre-defined goals for revenue growth and return on net assets for the applicable performance period. For performance achieved above specified levels, the recipient may earn additional shares of stock, not to exceed 100% of the number of performance awards initially granted. The PSUs have a three-year performance period based on the results of the consolidated financial metrics of the company. The fair value of PSUs is calculated using the market value of a share of Snap-on’s common stock on the date of grant and assumed forfeitures based on recent historical experience; in recent years, forfeitures have not been significant. The weighted-average grant date fair value of PSUs granted during the nine month periods ended September 28, 2024, and September 30, 2023, was $269.00 and $249.26, respectively. PSUs related to 137,096 shares and 60,402 shares were paid out during the nine month periods ended September 28, 2024, and September 30, 2023, respectively. Earned PSUs vest and are generally paid out following the conclusion of the applicable performance period upon approval by the Organization and Executive Compensation Committee of the company’s Board of Directors (the “Board”). Changes to the company’s non-vested PSUs during the nine months ended September 28, 2024, are as follows: Shares (in thousands) Fair Value Non-vested PSUs at December 30, 2023 177 $ 226.81 Granted 53 269.00 Performance assumption change ** (32) 211.67 Vested — — Cancellations and other (8) 247.56 Non-vested PSUs at September 28, 2024 190 240.18 * Weighted-average ** Reflects the number of PSUs adjusted based on performance metrics. As of September 28, 2024, there was $18.4 million of unrecognized compensation cost related to non-vested PSUs that are expected to be recognized as a charge to earnings over a weighted-average period of 1.1 years. Restricted stock units: RSUs are earned and expensed using the fair value of the award over the contractual term of three years. Vesting of the RSUs is dependent upon continued employment over the three-year cliff vesting period. The fair value of RSUs is calculated using the market value of a share of Snap-on’s common stock on the date of grant and assumed forfeitures based on recent historical experience; in recent years, forfeitures have not been significant. The weighted-average grant date fair value of RSUs granted during the nine month periods ended September 28, 2024, and September 30, 2023, was $269.00 and $249.26, respectively. Changes to the company’s non-vested RSUs during the nine months ended September 28, 2024, are as follows: Shares (in thousands) Fair Value Non-vested RSUs at December 30, 2023 80 $ 215.84 Granted 24 269.00 Vested (29) 190.48 Cancellations and other (3) 251.93 Non-vested RSUs at September 28, 2024 72 242.19 * Weighted-average As of September 28, 2024, there was $7.9 million of unrecognized compensation cost related to non-vested RSUs that are expected to be recognized as a charge to earnings over a weighted-average period of 1.3 years. Stock appreciation rights: The company also issues stock-settled and cash-settled SARs to certain key non-U.S. employees. SARs have a contractual term of 10 years and vest ratably on the first, second and third anniversaries of the date of grant. SARs are granted with an exercise price equal to the market value of a share of Snap-on’s common stock on the date of grant. Stock-settled SARs are accounted for as equity instruments and provide for the issuance of Snap-on common stock equal to the amount by which the company’s stock has appreciated over the exercise price. Stock-settled SARs have an effect on dilutive shares and shares outstanding as any appreciation of Snap-on’s common stock value over the exercise price will be settled in shares of common stock. Cash-settled SARs provide for the cash payment of the excess of the fair market value of Snap-on’s common stock price on the date of exercise over the grant price. Cash-settled SARs have no effect on dilutive shares or shares outstanding as any appreciation of Snap-on’s common stock over the grant price is paid in cash and not in common stock. The fair value of stock-settled SARs is estimated on the date of grant using the Black-Scholes valuation model. The fair value of cash-settled SARs is revalued (mark-to-market) each reporting period using the Black-Scholes valuation model based on Snap-on’s period-end stock price. The company uses historical data regarding SARs exercise and forfeiture behaviors for different participating groups to estimate the expected term of the SARs granted based on the period of time that similar instruments granted are expected to be outstanding. Expected volatility is based on the historical volatility of the company’s stock for the length of time corresponding to the expected term of the SARs. The expected dividend yield is based on the expected annual dividend as a percentage of the market value of our common stock as of the date of grant (for stock-settled SARs) or reporting date (for cash-settled SARs). The risk-free interest rate is based on the U.S. treasury yield curve in effect as of the grant date (for stock-settled SARs) or reporting date (for cash-settled SARs) for the length of time corresponding to the expected term of the SARs. The following weighted-average assumptions were used in calculating the fair value of stock-settled SARs granted during the nine month periods ended September 28, 2024, and September 30, 2023, using the Black-Scholes valuation model; no stock-settled SARs were granted during the three month periods ended September 28, 2024, and September 30, 2023: Nine Months Ended September 28, 2024 September 30, 2023 Expected term of stock-settled SARs (in years) 4.20 4.08 Expected volatility factor 23.80% 24.68% Expected dividend yield 2.77% 2.60% Risk-free interest rate 4.22% 3.87% Below is a summary of stock-settled SARs as of and for the nine months ended September 28, 2024: Stock-settled SARs (in thousands) Exercise Remaining Contractual Term* (in years) Aggregate Intrinsic Value (in millions) Outstanding at December 30, 2023 321 $ 189.93 Granted 63 269.00 Exercised (14) 159.83 Forfeited or expired (22) 183.63 Outstanding at September 28, 2024 348 205.76 6.5 $ 28.8 Exercisable at September 28, 2024 222 179.41 5.3 24.2 * Weighted-average The weighted-average grant date fair value of stock-settled SARs granted during the nine month periods ended September 28, 2024, and September 30, 2023, was $52.12 and $48.85, respectively. The intrinsic value of stock-settled SARs exercised was $0.3 million and $1.7 million during the respective three and nine month periods ended September 28, 2024, and $0.2 million and $5.0 million during the respective three and nine periods ended September 30, 2023. The fair value of stock-settled SARs vested was $2.3 million and $1.9 million during the respective nine month periods ended September 28, 2024, and September 30, 2023. As of September 28, 2024, there was $4.2 million of unrecognized compensation cost related to non-vested stock-settled SARs that is expected to be recognized as a charge to earnings over a weighted-average period of 1.7 years. The following weighted-average assumptions were used in calculating the fair value of cash-settled SARs granted during the nine month periods ended September 28, 2024, and September 30, 2023, using the Black-Scholes valuation model; no cash-settled SARs were granted during the three month periods ended September 28, 2024, and September 30, 2023: Nine Months Ended September 28, 2024 September 30, 2023 Expected term of cash-settled SARs (in years) 3.65 3.54 Expected volatility factor 23.53% 23.97% Expected dividend yield 2.58% 2.54% Risk-free interest rate 3.49% 4.80% The intrinsic value of cash-settled SARs exercised was zero for both the three and nine month periods ended September 28, 2024, and zero and $0.4 million for the respective three and nine month periods ended September 30, 2023. The fair value of cash-settled SARs vested was $0.1 million for both the nine month periods ended September 28, 2024, and September 30, 2023. Changes to the company’s non-vested cash-settled SARs during the nine months ended September 28, 2024, are as follows: Cash-settled SARs (in thousands) Fair Value Non-vested cash-settled SARs at December 30, 2023 2 $ 79.16 Granted 1 58.40 Vested (1) 81.39 Non-vested cash-settled SARs at September 28, 2024 2 63.90 * Weighted-average As of September 28, 2024, there was $0.2 million of unrecognized compensation cost related to non-vested cash-settled SARs that is expected to be recognized as a charge to earnings over a weighted-average period of 1.7 years. Restricted stock awards – non-employee directors: The company awarded 5,391 shares and 5,760 shares of restricted stock to non-employee directors for the respective nine month periods ended September 28, 2024, and September 30, 2023. The fair value of the restricted stock awards is expensed over a one-year vesting period based on the fair value on the date of grant. All restrictions on the restricted stock awards generally lapse upon the earlier of the first anniversary of the grant date, the recipient’s death or disability or in the event of a change in control, as defined in the 2011 Plan. If termination of the recipient’s service occurs prior to the first anniversary of the grant date for any reason other than death or disability, the shares of restricted stock would be forfeited, unless otherwise determined by the Board. Employee stock purchase plan: Substantially all Snap-on employees in the United States and Canada are eligible to participate in an employee stock purchase plan. The purchase price of the company’s common stock to participants is the lesser of the mean of the high and low prices of the stock on the beginning date (May 15) or ending date (the following May 14) of each plan year. The company records compensation expense when Snap-on’s period-end stock price is greater than the plan purchase price. There were 21,798 shares and 27,225 shares issued under this plan for the respective nine month periods ended September 28, 2024, and September 30, 2023. As of September 28, 2024, 529,800 shares were reserved for issuance under this plan and Snap-on held participant contributions of approximately $1.7 million. Participants are able to withdraw from the plan at any time prior to the ending date and receive back all contributions made during the plan year. Compensation expense for plan participants was $0.1 million and $0.2 million for the respective three and nine month periods ended September 28, 2024, and zero and $1.0 million for the respective three and nine month periods ended September 30, 2023. Franchisee stock purchase plan: All franchisees in the United States and Canada are eligible to participate in a franchisee stock purchase plan. The purchase price of the company’s common stock to participants is the lesser of the mean of the high and low prices of the stock on the beginning date (May 15) or ending date (the following May 14) of each plan year. The company records mark-to-market expense when Snap-on’s period-end stock price is greater than the plan purchase price. There were 42,687 shares and 46,510 shares issued under this plan for the respective nine month periods ended September 28, 2024, and September 30, 2023. As of September 28, 2024, 136,049 shares were reserved for issuance under this plan and Snap-on held participant contributions of approximately $4.5 million. Participants are able to withdraw from the plan at any time prior to the ending date and generally receive back all contributions made during the plan year. The company recognized mark-to-market expense of $0.1 million and $0.2 million for the respective three and nine month periods ended September 28, 2024, and zero and $1.6 million for the respective three and nine month periods ended September 30, 2023.

Earnings Per Share

Earnings Per Share	9 Months Ended
	Sep. 28, 2024
Earnings Per Share [Abstract]
Earnings Per Share	Earnings Per Share The shares used in the computation of the company’s basic and diluted earnings per common share are as follows: Three Months Ended Nine Months Ended September 28, 2024 September 30, 2023 September 28, 2024 September 30, 2023 Weighted-average common shares outstanding 52,577,687 52,822,472 52,660,264 52,932,781 Effect of dilutive securities 825,262 1,079,707 863,023 1,057,822 Weighted-average common shares outstanding, assuming dilution 53,402,949 53,902,179 53,523,287 53,990,603 The dilutive effect of the potential exercise of outstanding stock options and stock-settled SARs to purchase common shares is calculated using the treasury stock method. As of September 28, 2024, and September 30, 2023, there were no awards outstanding that were anti-dilutive. Performance-based equity awards are included in the diluted earnings per share calculation based on the attainment of the applicable performance metrics to date.

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 28, 2024
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	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 nine month periods ended September 28, 2024, and September 30, 2023, is as follows: Three Months Ended Nine Months Ended (Amounts in millions) September 28, 2024 September 30, 2023 September 28, 2024 September 30, 2023 Warranty reserve: Beginning of period $ 15.2 $ 14.9 $ 14.7 $ 14.3 Additions 3.3 3.6 10.9 11.5 Usage (3.5) (3.9) (10.6) (11.2) End of period $ 15.0 $ 14.6 $ 15.0 $ 14.6 In the ordinary course of business, Snap-on is subject to legal disputes that are being litigated and/or settled. The accompanying Condensed Consolidated Statements of Earnings for the nine months ended September 28, 2024, include benefits in “Operating expenses” of $22.5 million for payments received associated with a legal matter; the final payments related to this matter were received in the three months ended June 29, 2024. Although it is not possible to predict the outcome of legal matters, management believes that the results of all legal matters will not have a material impact on Snap-on’s consolidated financial position, results of operations or cash flows.

Leases

Leases	9 Months Ended
	Sep. 28, 2024
Leases [Abstract]
Leases	Leases Lessee accounting: Supplemental balance sheet information related to leases as of September 28, 2024, and December 30, 2023, is as follows: (Amounts in millions) September 28, December 30, 2023 Finance leases: Property and equipment - gross $ 18.2 $ 19.1 Accumulated depreciation (16.6) (16.8) Property and equipment - net $ 1.6 $ 2.3 Other accrued liabilities $ 0.8 $ 1.6 Other long-term liabilities 1.0 1.1 Total finance lease liabilities $ 1.8 $ 2.7 Operating leases: Operating lease right-of-use assets $ 78.0 $ 74.7 Other accrued liabilities $ 25.3 $ 23.8 Operating lease liabilities 57.1 54.6 Total operating lease liabilities $ 82.4 $ 78.4 Lessor accounting: Snap-on’s Financial Services business offers lease financing to support the sales of tools, diagnostics, and equipment products, as well as vehicle leases for franchisees. Sales-type leases are included in both “Finance receivables – net” and “Long-term finance receivables – net” and also in both “Contract receivables – net” and “Long-term contract receivables – net” on the accompanying Condensed Consolidated Balance Sheets. See Note 4 for additional information on finance and contract receivables.
Leases	Leases Lessee accounting: Supplemental balance sheet information related to leases as of September 28, 2024, and December 30, 2023, is as follows: (Amounts in millions) September 28, December 30, 2023 Finance leases: Property and equipment - gross $ 18.2 $ 19.1 Accumulated depreciation (16.6) (16.8) Property and equipment - net $ 1.6 $ 2.3 Other accrued liabilities $ 0.8 $ 1.6 Other long-term liabilities 1.0 1.1 Total finance lease liabilities $ 1.8 $ 2.7 Operating leases: Operating lease right-of-use assets $ 78.0 $ 74.7 Other accrued liabilities $ 25.3 $ 23.8 Operating lease liabilities 57.1 54.6 Total operating lease liabilities $ 82.4 $ 78.4 Lessor accounting: Snap-on’s Financial Services business offers lease financing to support the sales of tools, diagnostics, and equipment products, as well as vehicle leases for franchisees. Sales-type leases are included in both “Finance receivables – net” and “Long-term finance receivables – net” and also in both “Contract receivables – net” and “Long-term contract receivables – net” on the accompanying Condensed Consolidated Balance Sheets. See Note 4 for additional information on finance and contract receivables.
Leases	Leases Lessee accounting: Supplemental balance sheet information related to leases as of September 28, 2024, and December 30, 2023, is as follows: (Amounts in millions) September 28, December 30, 2023 Finance leases: Property and equipment - gross $ 18.2 $ 19.1 Accumulated depreciation (16.6) (16.8) Property and equipment - net $ 1.6 $ 2.3 Other accrued liabilities $ 0.8 $ 1.6 Other long-term liabilities 1.0 1.1 Total finance lease liabilities $ 1.8 $ 2.7 Operating leases: Operating lease right-of-use assets $ 78.0 $ 74.7 Other accrued liabilities $ 25.3 $ 23.8 Operating lease liabilities 57.1 54.6 Total operating lease liabilities $ 82.4 $ 78.4 Lessor accounting: Snap-on’s Financial Services business offers lease financing to support the sales of tools, diagnostics, and equipment products, as well as vehicle leases for franchisees. Sales-type leases are included in both “Finance receivables – net” and “Long-term finance receivables – net” and also in both “Contract receivables – net” and “Long-term contract receivables – net” on the accompanying Condensed Consolidated Balance Sheets. See Note 4 for additional information on finance and contract receivables.

Other Income (Expense) - Net

Other Income (Expense) - Net	9 Months Ended
	Sep. 28, 2024
Other Income and Expenses [Abstract]
Other Income (Expense) - Net	Other Income (Expense) – Net “Other income (expense) – net” on the accompanying Condensed Consolidated Statements of Earnings consists of the following: Three Months Ended Nine Months Ended (Amounts in millions) September 28, 2024 September 30, 2023 September 28, 2024 September 30, 2023 Interest income $ 15.2 $ 10.9 $ 42.3 $ 28.8 Net foreign exchange loss (1.6) (2.2) (5.1) (7.1) Net periodic pension and postretirement benefits – non-service 6.8 9.4 20.2 28.2 Other 0.2 (0.1) — 0.1 Total other income (expense) – net $ 20.6 $ 18.0 $ 57.4 $ 50.0

Accumulated Other Comprehensive

Accumulated Other Comprehensive Income (Loss)	9 Months Ended
	Sep. 28, 2024
Equity [Abstract]
Accumulated Other Comprehensive Income (Loss)	Accumulated Other Comprehensive Income (Loss) Below is a summary of net changes in Accumulated OCI by component and net of tax for the three months ended September 28, 2024: (Amounts in millions) Foreign Cash Flow Defined Total Balance as of June 29, 2024 $ (269.4) $ 4.9 $ (240.3) $ (504.8) Other comprehensive income before reclassifications 79.0 — — 79.0 Amounts reclassified from Accumulated OCI — (0.4) 1.5 1.1 Net other comprehensive income (loss) 79.0 (0.4) 1.5 80.1 Balance as of September 28, 2024 $ (190.4) $ 4.5 $ (238.8) $ (424.7) Below is a summary of net changes in Accumulated OCI by component and net of tax for the nine months ended September 28, 2024: (Amounts in millions) Foreign Cash Flow Defined Total Balance as of December 30, 2023 $ (211.8) $ 5.7 $ (243.4) $ (449.5) Other comprehensive income before reclassifications 21.4 — — 21.4 Amounts reclassified from Accumulated OCI — (1.2) 4.6 3.4 Net other comprehensive income (loss) 21.4 (1.2) 4.6 24.8 Balance as of September 28, 2024 $ (190.4) $ 4.5 $ (238.8) $ (424.7) Below is a summary of net changes in Accumulated OCI by component and net of tax for the three months ended September 30, 2023: (Amounts in millions) Foreign Cash Flow Defined Total Balance as of July 1, 2023 $ (254.2) $ 6.5 $ (263.0) $ (510.7) Other comprehensive loss before reclassifications (52.3) — — (52.3) Amounts reclassified from Accumulated OCI — (0.4) 0.1 (0.3) Net other comprehensive income (loss) (52.3) (0.4) 0.1 (52.6) Balance as of September 30, 2023 $ (306.5) $ 6.1 $ (262.9) $ (563.3) Below is a summary of net changes in Accumulated OCI by component and net of tax for the nine months ended September 30, 2023: (Amounts in millions) Foreign Cash Flow Defined Total Balance as of December 31, 2022 $ (272.5) $ 7.3 $ (263.1) $ (528.3) Other comprehensive loss before reclassifications (34.0) — — (34.0) Amounts reclassified from Accumulated OCI — (1.2) 0.2 (1.0) Net other comprehensive income (loss) (34.0) (1.2) 0.2 (35.0) Balance as of September 30, 2023 $ (306.5) $ 6.1 $ (262.9) $ (563.3) The reclassifications out of Accumulated OCI for the three and nine month periods ended September 28, 2024, and September 30, 2023, are as follows: Amount Reclassified from Accumulated OCI Three Months Ended Nine Months Ended (Amounts in millions) September 28, 2024 September 30, 2023 September 28, 2024 September 30, 2023 Statement of Earnings Gains on cash flow hedges: Treasury locks $ 0.4 $ 0.4 $ 1.2 $ 1.2 Interest expense Income tax expense — — — — Income tax expense Net of tax 0.4 0.4 1.2 1.2 Amortization of net unrecognized losses $ (2.0) $ (0.1) $ (6.0) $ (0.2) See footnote below* Income tax benefit 0.5 — 1.4 — Income tax expense Net of tax (1.5) (0.1) (4.6) (0.2) Total reclassifications for the period, net of tax $ (1.1) $ 0.3 $ (3.4) $ 1.0 * These Accumulated OCI components are included in the computation of net periodic pension and postretirement health care costs; see Note 10 and Note 11 for additional information.

Segments

Segments	9 Months Ended
	Sep. 28, 2024
Segment Reporting [Abstract]
Segments	Segments Snap-on’s business segments are based on the organization structure used by management for making operating and investment decisions and for assessing performance. Snap-on’s reportable business segments are: (i) the Commercial & Industrial Group; (ii) the Snap-on Tools Group; (iii) the Repair Systems & Information Group; and (iv) Financial Services. The Commercial & Industrial Group consists of business operations serving a broad range of industrial and commercial customers worldwide, including customers in the aerospace, natural resources, government and military, power generation, transportation, and technical education market segments (collectively, “critical industries”), primarily through direct and distributor channels. The Snap-on Tools Group consists of business operations primarily serving vehicle service and repair technicians through the company’s multinational mobile tool distribution channel. The Repair Systems & Information Group consists of business operations serving other professional vehicle repair customers worldwide, primarily owners and managers of independent repair shops and OEM dealerships, through direct and distributor channels. Financial Services consists of the business operations of Snap-on’s finance subsidiaries. Snap-on evaluates the performance of its operating segments based on segment revenues and segment operating earnings. The Snap-on Tools Group segment revenues include external net sales, while the Commercial & Industrial Group and the Repair Systems & Information Group segment revenues include both external and intersegment net sales. Snap-on accounts for intersegment net sales and transfers based primarily on standard costs with reasonable mark-ups established between the segments. Identifiable assets by segment are those assets used in the respective reportable segment’s operations. Corporate assets consist of cash and cash equivalents (excluding cash held at Financial Services), deferred income taxes and certain other assets. Intersegment amounts are eliminated to arrive at Snap-on’s consolidated financial results. Financial Data by Segment: Three Months Ended Nine Months Ended (Amounts in millions) September 28, 2024 September 30, 2023 September 28, 2024 September 30, 2023 Net sales: Commercial & Industrial Group $ 365.7 $ 366.4 $ 1,097.6 $ 1,094.4 Snap-on Tools Group 500.5 515.4 1,482.6 1,575.5 Repair Systems & Information Group 422.7 431.8 1,341.3 1,330.4 Segment net sales 1,288.9 1,313.6 3,921.5 4,000.3 Intersegment eliminations (141.9) (154.3) (412.8) (466.7) Total net sales 1,147.0 1,159.3 3,508.7 3,533.6 Financial Services revenue 100.4 94.9 300.5 280.9 Total revenues $ 1,247.4 $ 1,254.2 $ 3,809.2 $ 3,814.5 Operating earnings: Commercial & Industrial Group $ 61.0 $ 58.1 $ 178.6 $ 172.0 Snap-on Tools Group 108.3 113.4 340.4 382.8 Repair Systems & Information Group 107.3 104.9 333.8 319.9 Financial Services 71.7 69.4 210.2 202.6 Segment operating earnings 348.3 345.8 1,063.0 1,077.3 Corporate (24.2) (31.2) (49.2) (92.7) Operating earnings 324.1 314.6 1,013.8 984.6 Interest expense (12.5) (12.4) (37.3) (37.4) Other income (expense) – net 20.6 18.0 57.4 50.0 Earnings before income taxes $ 332.2 $ 320.2 $ 1,033.9 $ 997.2 (Amounts in millions) September 28, December 30, 2023 Assets: Commercial & Industrial Group $ 1,293.0 $ 1,293.7 Snap-on Tools Group 986.2 941.8 Repair Systems & Information Group 1,661.3 1,680.0 Financial Services 2,505.4 2,430.0 Total assets from reportable segments 6,445.9 6,345.5 Corporate 1,602.5 1,285.0 Elimination of intersegment receivables (95.1) (85.6) Total assets $ 7,953.3 $ 7,544.9

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 28, 2024	Sep. 30, 2023	Sep. 28, 2024	Sep. 30, 2023
Pay vs Performance Disclosure
Net Income (Loss)	$ 251.1	$ 243.1	$ 785.8	$ 755.8

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Sep. 28, 2024
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Summary of Accounting Policies

Summary of Accounting Policies (Policies)	9 Months Ended
	Sep. 28, 2024
Accounting Policies [Abstract]
Principles of consolidation and presentation	The Condensed Consolidated Financial Statements include the accounts of Snap-on Incorporated and its wholly owned and majority-owned subsidiaries (collectively, “Snap-on” or the “company”). These financial statements should be read in conjunction with, and have been prepared in conformity with, the accounting principles reflected in the consolidated financial statements and related notes included in Snap-on’s 2023 Annual Report on Form 10-K for the fiscal year ended December 30, 2023 (“2023 year end”). The company’s 2024 fiscal third quarter ended on September 28, 2024, and its 2023 fiscal third quarter ended on September 30, 2023. The company’s 2024 and 2023 fiscal third quarters each contained 13 weeks of operating results. Snap-on’s Condensed Consolidated Financial Statements are prepared in conformity with generally accepted accounting principles in the United States of America (“GAAP”). In the opinion of management, all adjustments (consisting of normal recurring adjustments) necessary for the fair presentation of the Condensed Consolidated Financial Statements for the three and nine month periods ended September 28, 2024, and September 30, 2023, have been made. Interim results of operations are not necessarily indicative of the results to be expected for the full fiscal year.
Use of Estimates	The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.
Financial Instruments	The fair value of the company’s derivative financial instruments is generally determined using quoted prices in active markets for similar assets and liabilities. The carrying value of the company’s non-derivative financial instruments either approximates fair value, due to their short-term nature, or the amount disclosed for fair value is based upon a discounted cash flow analysis or quoted market values. See Note 9 for additional information on financial instruments.
New Accounting Standards	In December 2023, the FASB issued ASU No. 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures , which requires disaggregated information about a reporting entity’s effective tax rate reconciliation as well as information on income taxes paid. ASU No. 2023-09 is effective for annual periods beginning after December 15, 2024. The guidance is to be applied on a prospective basis with the option to apply the standard retrospectively; this ASU allows for early adoption. The adoption of this ASU is not expected to have a material impact on Snap-on’s Condensed Consolidated Financial Statements. In November 2023, the FASB issued ASU No. 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures , which requires the disclosure of additional segment information. ASU No. 2023-07 is effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024. The adoption of this ASU is not expected to have a material impact on Snap-on’s Condensed Consolidated Financial Statements.
Revenue Recognition	Snap-on recognizes revenue from the sale of tools, diagnostics, equipment, and related services based on when control of the product passes to the customer or the service is provided and is recognized at an amount that reflects the consideration expected to be received in exchange for such goods or services. Snap-on evaluates the performance of its operating segments based on segment revenues and segment operating earnings. The Snap-on Tools Group segment revenues include external net sales, while the Commercial & Industrial Group and the Repair Systems & Information Group segment revenues include both external and intersegment net sales. Snap-on accounts for intersegment net sales and transfers based primarily on standard costs with reasonable mark-ups established between the segments. Intersegment amounts are eliminated to arrive at Snap-on’s consolidated financial results. Nature of goods and services: Snap-on derives net sales from a broad line of products and complementary services that are grouped into three categories: (i) tools; (ii) diagnostics, information and management systems; and (iii) equipment. The tools product category includes hand tools, power tools, tool storage products and other similar products. The diagnostics, information and management systems product category includes handheld and computer-based diagnostic products, service and repair information products, diagnostic software solutions, electronic parts catalogs, business management systems and services, point-of-sale systems, integrated systems for vehicle service shops, original equipment manufacturer (“OEM”) purchasing facilitation services, and warranty management systems and analytics to help OEM dealership service and repair shops (“OEM dealerships”) manage and track performance. The equipment product category includes solutions for the service of vehicles and industrial equipment. Snap-on supports the sale of its diagnostics and vehicle service shop equipment by offering training programs as well as after-sales support to its customers. Through its financial services businesses, Snap‑on derives revenue from various financing programs designed to facilitate the sales of its products and support its franchise business. Approximately 90% of Snap-on’s net sales are products sold at a point in time through ship-and-bill performance obligations that also include repair services. The remaining sales revenue is earned over time primarily for software subscriptions, other subscription service agreements and extended warranty programs. Snap-on enters into contracts related to the selling of tools, diagnostics, repair information, equipment and related services. At contract inception, an assessment of the goods and services promised in the contracts with customers is performed and a performance obligation is identified for each distinct promise to transfer to the customer a good or service (or bundle of goods or services). To identify the performance obligations, Snap-on considers all of the goods or services promised in the contract regardless of whether they are explicitly stated or are implied by customary business practices. Contracts with customers are comprised of customer purchase orders, invoices and written contracts. Contract liabilities:

Revenue Recognition (Tables)

Revenue Recognition (Tables)	9 Months Ended
	Sep. 28, 2024
Revenue from Contract with Customer [Abstract]
Schedule of Disaggregation of Revenue	The following table shows the consolidated revenues by revenue source: Three Months Ended Nine Months Ended (Amounts in millions) September 28, 2024 September 30, 2023 September 28, 2024 September 30, 2023 Revenue from contracts with customers $ 1,139.3 $ 1,152.2 $ 3,486.5 $ 3,513.3 Other revenues 7.7 7.1 22.2 20.3 Total net sales 1,147.0 1,159.3 3,508.7 3,533.6 Financial services revenue 100.4 94.9 300.5 280.9 Total revenues $ 1,247.4 $ 1,254.2 $ 3,809.2 $ 3,814.5 The following tables represent external net sales disaggregated by geography, based on the customers’ billing addresses: For the Three Months Ended September 28, 2024 Commercial Snap-on Repair Systems & Industrial Tools & Information Financial Snap-on (Amounts in millions) Group Group Group Services Eliminations Incorporated Net sales: North America* $ 155.2 $ 434.0 $ 273.9 $ — $ — $ 863.1 Europe 72.2 37.4 58.7 — — 168.3 All other 61.3 29.1 25.2 — — 115.6 External net sales 288.7 500.5 357.8 — — 1,147.0 Intersegment net sales 77.0 — 64.9 — (141.9) — Total net sales 365.7 500.5 422.7 — (141.9) 1,147.0 Financial services revenue — — — 100.4 — 100.4 Total revenue $ 365.7 $ 500.5 $ 422.7 $ 100.4 $ (141.9) $ 1,247.4 For the Nine Months Ended September 28, 2024 Commercial Snap-on Repair Systems & Industrial Tools & Information Financial Snap-on (Amounts in millions) Group Group Group Services Eliminations Incorporated Net sales: North America* $ 467.3 $ 1,280.7 $ 874.2 $ — $ — $ 2,622.2 Europe 230.0 118.4 188.0 — — 536.4 All other 187.4 83.5 79.2 — — 350.1 External net sales 884.7 1,482.6 1,141.4 — — 3,508.7 Intersegment net sales 212.9 — 199.9 — (412.8) — Total net sales 1,097.6 1,482.6 1,341.3 — (412.8) 3,508.7 Financial services revenue — — — 300.5 — 300.5 Total revenue $ 1,097.6 $ 1,482.6 $ 1,341.3 $ 300.5 $ (412.8) $ 3,809.2 * North America is comprised of the United States, Canada and Mexico. For the Three Months Ended September 30, 2023 Commercial Snap-on Repair Systems & Industrial Tools & Information Financial Snap-on (Amounts in millions) Group Group Group Services Eliminations Incorporated Net sales: North America* $ 146.4 $ 451.4 $ 282.0 $ — $ — $ 879.8 Europe 69.6 37.5 54.0 — — 161.1 All other 64.5 26.5 27.4 — — 118.4 External net sales 280.5 515.4 363.4 — — 1,159.3 Intersegment net sales 85.9 — 68.4 — (154.3) — Total net sales 366.4 515.4 431.8 — (154.3) 1,159.3 Financial services revenue — — — 94.9 — 94.9 Total revenue $ 366.4 $ 515.4 $ 431.8 $ 94.9 $ (154.3) $ 1,254.2 For the Nine Months Ended September 30, 2023 Commercial Snap-on Repair Systems & Industrial Tools & Information Financial Snap-on (Amounts in millions) Group Group Group Services Eliminations Incorporated Net sales: North America* $ 428.3 $ 1,384.6 $ 849.7 $ — $ — $ 2,662.6 Europe 220.1 112.2 180.8 — — 513.1 All other 200.5 78.7 78.7 — — 357.9 External net sales 848.9 1,575.5 1,109.2 — — 3,533.6 Intersegment net sales 245.5 — 221.2 — (466.7) — Total net sales 1,094.4 1,575.5 1,330.4 — (466.7) 3,533.6 Financial services revenue — — — 280.9 — 280.9 Total revenue $ 1,094.4 $ 1,575.5 $ 1,330.4 $ 280.9 $ (466.7) $ 3,814.5 * North America is comprised of the United States, Canada and Mexico. The following tables represent external net sales disaggregated by customer type: For the Three Months Ended September 28, 2024 Commercial Snap-on Repair Systems & Industrial Tools & Information Financial Snap-on (Amounts in millions) Group Group Group Services Eliminations Incorporated Net sales: Vehicle service professionals $ 20.1 $ 500.5 $ 357.8 $ — $ — $ 878.4 All other professionals 268.6 — — — — 268.6 External net sales 288.7 500.5 357.8 — — 1,147.0 Intersegment net sales 77.0 — 64.9 — (141.9) — Total net sales 365.7 500.5 422.7 — (141.9) 1,147.0 Financial services revenue — — — 100.4 — 100.4 Total revenue $ 365.7 $ 500.5 $ 422.7 $ 100.4 $ (141.9) $ 1,247.4 For the Nine Months Ended September 28, 2024 Commercial Snap-on Repair Systems & Industrial Tools & Information Financial Snap-on (Amounts in millions) Group Group Group Services Eliminations Incorporated Net sales: Vehicle service professionals $ 61.4 $ 1,482.6 $ 1,141.4 $ — $ — $ 2,685.4 All other professionals 823.3 — — — — 823.3 External net sales 884.7 1,482.6 1,141.4 — — 3,508.7 Intersegment net sales 212.9 — 199.9 — (412.8) — Total net sales 1,097.6 1,482.6 1,341.3 — (412.8) 3,508.7 Financial services revenue — — — 300.5 — 300.5 Total revenue $ 1,097.6 $ 1,482.6 $ 1,341.3 $ 300.5 $ (412.8) $ 3,809.2 For the Three Months Ended September 30, 2023 Commercial Snap-on Repair Systems & Industrial Tools & Information Financial Snap-on (Amounts in millions) Group Group Group Services Eliminations Incorporated Net sales: Vehicle service professionals $ 19.4 $ 515.4 $ 363.4 $ — $ — $ 898.2 All other professionals 261.1 — — — — 261.1 External net sales 280.5 515.4 363.4 — — 1,159.3 Intersegment net sales 85.9 — 68.4 — (154.3) — Total net sales 366.4 515.4 431.8 — (154.3) 1,159.3 Financial services revenue — — — 94.9 — 94.9 Total revenue $ 366.4 $ 515.4 $ 431.8 $ 94.9 $ (154.3) $ 1,254.2 For the Nine Months Ended September 30, 2023 Commercial Snap-on Repair Systems & Industrial Tools & Information Financial Snap-on (Amounts in millions) Group Group Group Services Eliminations Incorporated Net sales: Vehicle service professionals $ 62.2 $ 1,575.5 $ 1,109.2 $ — $ — $ 2,746.9 All other professionals 786.7 — — — — 786.7 External net sales 848.9 1,575.5 1,109.2 — — 3,533.6 Intersegment net sales 245.5 — 221.2 — (466.7) — Total net sales 1,094.4 1,575.5 1,330.4 — (466.7) 3,533.6 Financial services revenue — — — 280.9 — 280.9 Total revenue $ 1,094.4 $ 1,575.5 $ 1,330.4 $ 280.9 $ (466.7) $ 3,814.5

Receivables (Tables)

Receivables (Tables)	9 Months Ended
	Sep. 28, 2024
Receivables [Abstract]
Schedule of Components of Trade and Other Accounts Receivable	The components of Snap-on’s trade and other accounts receivable as of September 28, 2024, and December 30, 2023, are as follows: (Amounts in millions) September 28, December 30, 2023 Trade and other accounts receivable $ 834.5 $ 826.2 Allowances for credit losses (38.1) (34.9) Total trade and other accounts receivable – net $ 796.4 $ 791.3
Schedule of Allowance for Credit Losses on Receivables	The following is a rollforward of the allowances for credit losses related to trade and other accounts receivable for the three and nine month periods ended September 28, 2024, and September 30, 2023: Three Months Ended Nine Months Ended (Amounts in millions) September 28, 2024 September 30, 2023 September 28, 2024 September 30, 2023 Allowances for credit losses: Beginning of period $ 36.5 $ 32.3 $ 34.9 $ 31.1 Provision for credit losses 5.3 5.5 16.2 13.7 Charge-offs (4.3) (3.6) (12.9) (10.9) Recoveries 0.1 — 0.2 — Currency translation 0.5 (0.4) (0.3) (0.1) End of period $ 38.1 $ 33.8 $ 38.1 $ 33.8
Schedule of Components of Finance and Contract Receivables, Current and Beyond One Year	The components of Snap-on’s current finance and contract receivables as of September 28, 2024, and December 30, 2023, are as follows: (Amounts in millions) September 28, December 30, 2023 Finance installment receivables $ 630.4 $ 605.2 Finance lease receivables, net of unearned finance charges of $6.4 million and $3.4 million, respectively 17.0 10.1 Total finance receivables 647.4 615.3 Contract installment receivables 61.9 59.9 Contract lease receivables, net of unearned finance charges of $22.1 million and $21.1 million, respectively 62.0 62.7 Total contract receivables 123.9 122.6 Total 771.3 737.9 Allowances for credit losses: Finance installment receivables (22.4) (21.1) Finance lease receivables (0.3) (0.1) Total finance allowances for credit losses (22.7) (21.2) Contract installment receivables (0.9) (0.9) Contract lease receivables (0.9) (0.9) Total contract allowances for credit losses (1.8) (1.8) Total allowances for credit losses (24.5) (23.0) Total current finance and contract receivables – net $ 746.8 $ 714.9 Finance receivables – net $ 624.7 $ 594.1 Contract receivables – net 122.1 120.8 Total current finance and contract receivables – net $ 746.8 $ 714.9 The components of Snap-on’s finance and contract receivables with payment terms beyond one year as of September 28, 2024, and December 30, 2023, are as follows: (Amounts in millions) September 28, December 30, 2023 Finance installment receivables $ 1,334.1 $ 1,318.5 Finance lease receivables, net of unearned finance charges of $5.5 million and $2.8 million, respectively 23.2 12.3 Total finance receivables 1,357.3 1,330.8 Contract installment receivables 225.0 216.0 Contract lease receivables, net of unearned finance charges of $37.0 million and $35.1 million, respectively 202.2 196.8 Total contract receivables 427.2 412.8 Total 1,784.5 1,743.6 Allowances for credit losses: Finance installment receivables (47.8) (46.4) Finance lease receivables (0.5) (0.2) Total finance allowances for credit losses (48.3) (46.6) Contract installment receivables (3.3) (3.1) Contract lease receivables (1.8) (1.8) Total contract allowances for credit losses (5.1) (4.9) Total allowances for credit losses (53.4) (51.5) Total long-term finance and contract receivables – net $ 1,731.1 $ 1,692.1 Finance receivables – net $ 1,309.0 $ 1,284.2 Contract receivables – net 422.1 407.9 Total long-term finance and contract receivables – net $ 1,731.1 $ 1,692.1
Schedule of Financing Receivable Credit Quality Indicators	The amortized cost basis of finance and contract receivables by origination year as of September 28, 2024, and charge-offs recorded in the nine months ended September 28, 2024, by origination year, are as follows: (Amounts in millions) 2024 2023 2022 2021 2020 Prior Total Finance receivables: Delinquent $ 14.4 $ 25.7 $ 12.2 $ 5.8 $ 2.9 $ 1.1 $ 62.1 Non-delinquent 1,104.6 553.1 191.4 65.3 23.7 4.5 1,942.6 Total Finance receivables $ 1,119.0 $ 578.8 $ 203.6 $ 71.1 $ 26.6 $ 5.6 $ 2,004.7 Finance receivables charge-offs $ 2.0 $ 25.8 $ 15.3 $ 6.5 $ 3.4 $ 1.7 $ 54.7 Contract receivables: Delinquent $ 0.3 $ 0.6 $ 1.0 $ 0.4 $ 0.5 $ 0.4 $ 3.2 Non-delinquent 158.0 151.0 98.0 62.8 39.9 38.2 547.9 Total Contract receivables $ 158.3 $ 151.6 $ 99.0 $ 63.2 $ 40.4 $ 38.6 $ 551.1 Contract receivables charge-offs $ — $ 0.3 $ 0.5 $ 0.4 $ 0.3 $ 0.3 $ 1.8
Schedule of Financing Receivable, Allowance for Credit Loss	The following is a rollforward of the allowances for credit losses for finance and contract receivables for the three and nine month periods ended September 28, 2024, and September 30, 2023: Three Months Ended Nine Months Ended (Amounts in millions) Finance Contract Finance Contract Allowances for credit losses: Beginning of period $ 71.1 $ 6.8 $ 67.8 $ 6.7 Provision for credit losses 15.2 0.7 50.6 1.6 Charge-offs (17.7) (0.8) (54.7) (1.8) Recoveries 2.2 0.1 7.2 0.3 Currency translation 0.2 0.1 0.1 0.1 End of period $ 71.0 $ 6.9 $ 71.0 $ 6.9 Three Months Ended Nine Months Ended (Amounts in millions) Finance Receivables Contract Receivables Finance Receivables Contract Receivables Allowances for credit losses: Beginning of period $ 65.1 $ 6.5 $ 60.9 $ 6.6 Provision for credit losses 12.8 0.7 40.7 1.3 Charge-offs (13.7) (0.7) (42.1) (1.6) Recoveries 1.9 0.1 6.5 0.3 Currency translation (0.1) (0.1) — (0.1) End of period $ 66.0 $ 6.5 $ 66.0 $ 6.5
Schedule of Aging of Finance and Contract Receivables	The aging of finance and contract receivables as of September 28, 2024, and December 30, 2023, is as follows: (Amounts in millions) 30-59 60-90 Greater Total Past Total Not Total Greater September 28, 2024: Finance receivables $ 21.9 $ 14.5 $ 25.7 $ 62.1 $ 1,942.6 $ 2,004.7 $ 21.8 Contract receivables 1.2 0.5 1.5 3.2 547.9 551.1 0.2 December 30, 2023: Finance receivables $ 21.5 $ 13.6 $ 23.2 $ 58.3 $ 1,887.8 $ 1,946.1 $ 19.9 Contract receivables 1.5 0.6 1.2 3.3 532.1 535.4 0.2
Schedule of Finance and Contract Receivables on Nonaccrual Status	The amount of finance and contract receivables on nonaccrual status as of September 28, 2024, and December 30, 2023, is as follows: (Amounts in millions) September 28, December 30, 2023 Finance receivables $ 11.8 $ 10.6 Contract receivables 2.4 3.3

Inventories (Tables)

Inventories (Tables)	9 Months Ended
	Sep. 28, 2024
Inventory Disclosure [Abstract]
Schedule of Inventories by Major Classification	Inventories by major classification are as follows: (Amounts in millions) September 28, December 30, 2023 Finished goods $ 873.3 $ 874.6 Work in progress 78.4 76.1 Raw materials 169.8 171.1 Total FIFO value 1,121.5 1,121.8 Excess of current cost over LIFO cost (125.7) (115.9) Total inventories – net $ 995.8 $ 1,005.9

Goodwill and Other Intangible_2

Goodwill and Other Intangible Assets (Tables)	9 Months Ended
	Sep. 28, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Changes in Carrying Amount of Goodwill by Segment	The changes in the carrying amount of goodwill by segment for the nine months ended September 28, 2024, are as follows: (Amounts in millions) Commercial Snap-on Repair Systems Total Balance as of December 30, 2023 $ 346.6 $ 12.4 $ 738.4 $ 1,097.4 Currency translation 1.2 — 1.2 2.4 Acquisition adjustments (13.2) — — (13.2) Balance as of September 28, 2024 $ 334.6 $ 12.4 $ 739.6 $ 1,086.6
Schedule of Other Intangible Assets by Major Class	Additional disclosures related to other intangible assets are as follows: September 28, 2024 December 30, 2023 (Amounts in millions) Gross Carrying Value Accumulated Net Carrying Value Gross Carrying Value Accumulated Net Carrying Value Amortized other intangible assets: Customer relationships $ 218.0 $ (165.7) $ 52.3 $ 214.5 $ (163.6) $ 50.9 Developed technology 36.6 (32.4) 4.2 36.2 (29.8) 6.4 Internally developed software 202.0 (156.6) 45.4 191.3 (148.2) 43.1 Patents 48.5 (21.2) 27.3 53.0 (26.8) 26.2 Trademarks 3.9 (2.5) 1.4 4.0 (2.5) 1.5 Other 6.3 (2.9) 3.4 6.2 (2.8) 3.4 Total 515.3 (381.3) 134.0 505.2 (373.7) 131.5 Non-amortized trademarks 143.3 — 143.3 137.4 — 137.4 Total other intangible assets $ 658.6 $ (381.3) $ 277.3 $ 642.6 $ (373.7) $ 268.9
Schedule of Weighted-Average Amortization Period by Major Class	The weighted-average amortization periods related to other intangible assets are as follows: In Years Customer relationships 14 Developed technology 5 Internally developed software 6 Patents 15 Trademarks 9 Other 39

Short-term and Long-term Debt (

Short-term and Long-term Debt (Tables)	9 Months Ended
	Sep. 28, 2024
Debt Disclosure [Abstract]
Schedule of Short-term and Long-term Debt	Short-term and long-term debt as of September 28, 2024, and December 30, 2023, consisted of the following: (Amounts in millions) September 28, December 30, 2023 3.25% unsecured notes due 2027 $ 300.0 $ 300.0 4.10% unsecured notes due 2048 400.0 400.0 3.10% unsecured notes due 2050 500.0 500.0 Other debt* (0.4) 0.2 1,199.6 1,200.2 Less: notes payable (14.3) (15.6) Total long-term debt $ 1,185.3 $ 1,184.6 * Includes unamortized debt issuance costs and issuance discounts.

Financial Instruments (Tables)

Financial Instruments (Tables)	9 Months Ended
	Sep. 28, 2024
Fair Value Disclosures [Abstract]
Schedule of Fair Values of Financial Instruments Not Approximating Carrying Values in Financial Statements	The fair values of financial instruments that do not approximate the carrying values in the financial statements are as follows: September 28, 2024 December 30, 2023 (Amounts in millions) Carrying Fair Carrying Fair Finance receivables – net $ 1,933.7 $ 2,208.3 $ 1,878.3 $ 2,138.7 Contract receivables – net 544.2 583.7 528.7 561.6 Long-term debt and notes payable 1,199.6 1,007.9 1,200.2 1,031.5

Pension Plans (Tables)

Pension Plans (Tables)	9 Months Ended
	Sep. 28, 2024
Retirement Benefits [Abstract]
Schedule of Net Periodic Pension Benefit	Snap-on’s net periodic pension benefit included the following components: Three Months Ended Nine Months Ended (Amounts in millions) September 28, 2024 September 30, 2023 September 28, 2024 September 30, 2023 Service cost $ 5.0 $ 4.7 $ 15.0 $ 14.1 Interest cost 16.4 16.3 49.2 49.0 Expected return on plan assets (25.5) (26.1) (76.3) (78.4) Amortization of unrecognized loss 2.3 0.4 6.9 1.1 Net periodic pension benefit $ (1.8) $ (4.7) $ (5.2) $ (14.2)

Postretirement Health Care Pl_2

Postretirement Health Care Plans (Tables)	9 Months Ended
	Sep. 28, 2024
Postemployment Benefits [Abstract]
Schedule of Net Periodic Postretirement Health Care Cost	Snap-on’s net periodic postretirement health care cost included the following components: Three Months Ended Nine Months Ended (Amounts in millions) September 28, 2024 September 30, 2023 September 28, 2024 September 30, 2023 Interest cost $ 0.5 $ 0.4 $ 1.4 $ 1.5 Expected return on plan assets (0.2) (0.1) (0.5) (0.5) Amortization of unrecognized gain (0.3) (0.3) (0.9) (0.9) Net periodic postretirement health care cost $ — $ — $ — $ 0.1

Stock-based Compensation and _2

Stock-based Compensation and Other Stock Plans (Tables)	9 Months Ended
	Sep. 28, 2024
Share-Based Payment Arrangement [Abstract]
Schedule of Weighted-Average Assumptions of Fair Value Granted Using Black-Scholes Valuation Model	The following weighted-average assumptions were used in calculating the fair value of stock options granted during the nine month periods ended September 28, 2024, and September 30, 2023, using the Black-Scholes valuation model; no stock options were granted during the three month periods ended September 28, 2024, and September 30, 2023: Nine Months Ended September 28, 2024 September 30, 2023 Expected term of stock option (in years) 4.90 4.89 Expected volatility factor 23.63% 23.99% Expected dividend yield 2.76% 2.60% Risk-free interest rate 4.30% 3.99%
Schedule of Stock Option Activity	Below is a summary of stock option activity as of and for the nine months ended September 28, 2024: Shares (in thousands) Exercise Remaining Contractual Term* (in years) Aggregate Intrinsic Value (in millions) Outstanding at December 30, 2023 1,916 $ 177.79 Granted 233 269.01 Exercised (268) 167.84 Forfeited or expired (33) 245.05 Outstanding at September 28, 2024 1,848 189.56 5.3 $ 182.9 Exercisable at September 28, 2024 1,401 169.56 4.3 166.7 * Weighted-average
Schedule of Changes in Non-Vested Performance Awards	Changes to the company’s non-vested PSUs during the nine months ended September 28, 2024, are as follows: Shares (in thousands) Fair Value Non-vested PSUs at December 30, 2023 177 $ 226.81 Granted 53 269.00 Performance assumption change ** (32) 211.67 Vested — — Cancellations and other (8) 247.56 Non-vested PSUs at September 28, 2024 190 240.18 * Weighted-average ** Reflects the number of PSUs adjusted based on performance metrics.
Schedule of Non-vested Restricted Stock Units Activity	Changes to the company’s non-vested RSUs during the nine months ended September 28, 2024, are as follows: Shares (in thousands) Fair Value Non-vested RSUs at December 30, 2023 80 $ 215.84 Granted 24 269.00 Vested (29) 190.48 Cancellations and other (3) 251.93 Non-vested RSUs at September 28, 2024 72 242.19 * Weighted-average
Schedule of Weighted-Average Assumptions of Fair Value Granted Using Black-Scholes Valuation Model	The following weighted-average assumptions were used in calculating the fair value of stock-settled SARs granted during the nine month periods ended September 28, 2024, and September 30, 2023, using the Black-Scholes valuation model; no stock-settled SARs were granted during the three month periods ended September 28, 2024, and September 30, 2023: Nine Months Ended September 28, 2024 September 30, 2023 Expected term of stock-settled SARs (in years) 4.20 4.08 Expected volatility factor 23.80% 24.68% Expected dividend yield 2.77% 2.60% Risk-free interest rate 4.22% 3.87% The following weighted-average assumptions were used in calculating the fair value of cash-settled SARs granted during the nine month periods ended September 28, 2024, and September 30, 2023, using the Black-Scholes valuation model; no cash-settled SARs were granted during the three month periods ended September 28, 2024, and September 30, 2023: Nine Months Ended September 28, 2024 September 30, 2023 Expected term of cash-settled SARs (in years) 3.65 3.54 Expected volatility factor 23.53% 23.97% Expected dividend yield 2.58% 2.54% Risk-free interest rate 3.49% 4.80%
Schedule of Changes in SARs	Below is a summary of stock-settled SARs as of and for the nine months ended September 28, 2024: Stock-settled SARs (in thousands) Exercise Remaining Contractual Term* (in years) Aggregate Intrinsic Value (in millions) Outstanding at December 30, 2023 321 $ 189.93 Granted 63 269.00 Exercised (14) 159.83 Forfeited or expired (22) 183.63 Outstanding at September 28, 2024 348 205.76 6.5 $ 28.8 Exercisable at September 28, 2024 222 179.41 5.3 24.2 * Weighted-average Changes to the company’s non-vested cash-settled SARs during the nine months ended September 28, 2024, are as follows: Cash-settled SARs (in thousands) Fair Value Non-vested cash-settled SARs at December 30, 2023 2 $ 79.16 Granted 1 58.40 Vested (1) 81.39 Non-vested cash-settled SARs at September 28, 2024 2 63.90 * Weighted-average

Earnings Per Share (Tables)

Earnings Per Share (Tables)	9 Months Ended
	Sep. 28, 2024
Earnings Per Share [Abstract]
Schedule of Computation of Basic and Diluted Earnings Per Common Share	The shares used in the computation of the company’s basic and diluted earnings per common share are as follows: Three Months Ended Nine Months Ended September 28, 2024 September 30, 2023 September 28, 2024 September 30, 2023 Weighted-average common shares outstanding 52,577,687 52,822,472 52,660,264 52,932,781 Effect of dilutive securities 825,262 1,079,707 863,023 1,057,822 Weighted-average common shares outstanding, assuming dilution 53,402,949 53,902,179 53,523,287 53,990,603

Commitments and Contingencies (

Commitments and Contingencies (Tables)	9 Months Ended
	Sep. 28, 2024
Commitments and Contingencies Disclosure [Abstract]
Schedule of Product Warranty Accrual Activity	Snap-on’s product warranty accrual activity for the three and nine month periods ended September 28, 2024, and September 30, 2023, is as follows: Three Months Ended Nine Months Ended (Amounts in millions) September 28, 2024 September 30, 2023 September 28, 2024 September 30, 2023 Warranty reserve: Beginning of period $ 15.2 $ 14.9 $ 14.7 $ 14.3 Additions 3.3 3.6 10.9 11.5 Usage (3.5) (3.9) (10.6) (11.2) End of period $ 15.0 $ 14.6 $ 15.0 $ 14.6

Leases (Tables)

Leases (Tables)	9 Months Ended
	Sep. 28, 2024
Leases [Abstract]
Schedule of Lease Supplemental Balance Sheet Information and Weighted-Average Lease Terms and Discount Rates	Supplemental balance sheet information related to leases as of September 28, 2024, and December 30, 2023, is as follows: (Amounts in millions) September 28, December 30, 2023 Finance leases: Property and equipment - gross $ 18.2 $ 19.1 Accumulated depreciation (16.6) (16.8) Property and equipment - net $ 1.6 $ 2.3 Other accrued liabilities $ 0.8 $ 1.6 Other long-term liabilities 1.0 1.1 Total finance lease liabilities $ 1.8 $ 2.7 Operating leases: Operating lease right-of-use assets $ 78.0 $ 74.7 Other accrued liabilities $ 25.3 $ 23.8 Operating lease liabilities 57.1 54.6 Total operating lease liabilities $ 82.4 $ 78.4

Other Income (Expense) - Net (T

Other Income (Expense) - Net (Tables)	9 Months Ended
	Sep. 28, 2024
Other Income and Expenses [Abstract]
Schedule of Other Income (Expense) - Net	“Other income (expense) – net” on the accompanying Condensed Consolidated Statements of Earnings consists of the following: Three Months Ended Nine Months Ended (Amounts in millions) September 28, 2024 September 30, 2023 September 28, 2024 September 30, 2023 Interest income $ 15.2 $ 10.9 $ 42.3 $ 28.8 Net foreign exchange loss (1.6) (2.2) (5.1) (7.1) Net periodic pension and postretirement benefits – non-service 6.8 9.4 20.2 28.2 Other 0.2 (0.1) — 0.1 Total other income (expense) – net $ 20.6 $ 18.0 $ 57.4 $ 50.0

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Income (Loss) (Tables)	9 Months Ended
	Sep. 28, 2024
Equity [Abstract]
Schedule of Net Changes in Accumulated OCI by Component, Net of Tax	Below is a summary of net changes in Accumulated OCI by component and net of tax for the three months ended September 28, 2024: (Amounts in millions) Foreign Cash Flow Defined Total Balance as of June 29, 2024 $ (269.4) $ 4.9 $ (240.3) $ (504.8) Other comprehensive income before reclassifications 79.0 — — 79.0 Amounts reclassified from Accumulated OCI — (0.4) 1.5 1.1 Net other comprehensive income (loss) 79.0 (0.4) 1.5 80.1 Balance as of September 28, 2024 $ (190.4) $ 4.5 $ (238.8) $ (424.7) Below is a summary of net changes in Accumulated OCI by component and net of tax for the nine months ended September 28, 2024: (Amounts in millions) Foreign Cash Flow Defined Total Balance as of December 30, 2023 $ (211.8) $ 5.7 $ (243.4) $ (449.5) Other comprehensive income before reclassifications 21.4 — — 21.4 Amounts reclassified from Accumulated OCI — (1.2) 4.6 3.4 Net other comprehensive income (loss) 21.4 (1.2) 4.6 24.8 Balance as of September 28, 2024 $ (190.4) $ 4.5 $ (238.8) $ (424.7) Below is a summary of net changes in Accumulated OCI by component and net of tax for the three months ended September 30, 2023: (Amounts in millions) Foreign Cash Flow Defined Total Balance as of July 1, 2023 $ (254.2) $ 6.5 $ (263.0) $ (510.7) Other comprehensive loss before reclassifications (52.3) — — (52.3) Amounts reclassified from Accumulated OCI — (0.4) 0.1 (0.3) Net other comprehensive income (loss) (52.3) (0.4) 0.1 (52.6) Balance as of September 30, 2023 $ (306.5) $ 6.1 $ (262.9) $ (563.3) Below is a summary of net changes in Accumulated OCI by component and net of tax for the nine months ended September 30, 2023: (Amounts in millions) Foreign Cash Flow Defined Total Balance as of December 31, 2022 $ (272.5) $ 7.3 $ (263.1) $ (528.3) Other comprehensive loss before reclassifications (34.0) — — (34.0) Amounts reclassified from Accumulated OCI — (1.2) 0.2 (1.0) Net other comprehensive income (loss) (34.0) (1.2) 0.2 (35.0) Balance as of September 30, 2023 $ (306.5) $ 6.1 $ (262.9) $ (563.3)
Schedule of Reclassifications Out of Accumulated OCI	The reclassifications out of Accumulated OCI for the three and nine month periods ended September 28, 2024, and September 30, 2023, are as follows: Amount Reclassified from Accumulated OCI Three Months Ended Nine Months Ended (Amounts in millions) September 28, 2024 September 30, 2023 September 28, 2024 September 30, 2023 Statement of Earnings Gains on cash flow hedges: Treasury locks $ 0.4 $ 0.4 $ 1.2 $ 1.2 Interest expense Income tax expense — — — — Income tax expense Net of tax 0.4 0.4 1.2 1.2 Amortization of net unrecognized losses $ (2.0) $ (0.1) $ (6.0) $ (0.2) See footnote below* Income tax benefit 0.5 — 1.4 — Income tax expense Net of tax (1.5) (0.1) (4.6) (0.2) Total reclassifications for the period, net of tax $ (1.1) $ 0.3 $ (3.4) $ 1.0 * These Accumulated OCI components are included in the computation of net periodic pension and postretirement health care costs; see Note 10 and Note 11 for additional information.

Segments (Tables)

Segments (Tables)	9 Months Ended
	Sep. 28, 2024
Segment Reporting [Abstract]
Schedule of Net Sales by Segment	Financial Data by Segment: Three Months Ended Nine Months Ended (Amounts in millions) September 28, 2024 September 30, 2023 September 28, 2024 September 30, 2023 Net sales: Commercial & Industrial Group $ 365.7 $ 366.4 $ 1,097.6 $ 1,094.4 Snap-on Tools Group 500.5 515.4 1,482.6 1,575.5 Repair Systems & Information Group 422.7 431.8 1,341.3 1,330.4 Segment net sales 1,288.9 1,313.6 3,921.5 4,000.3 Intersegment eliminations (141.9) (154.3) (412.8) (466.7) Total net sales 1,147.0 1,159.3 3,508.7 3,533.6 Financial Services revenue 100.4 94.9 300.5 280.9 Total revenues $ 1,247.4 $ 1,254.2 $ 3,809.2 $ 3,814.5 Operating earnings: Commercial & Industrial Group $ 61.0 $ 58.1 $ 178.6 $ 172.0 Snap-on Tools Group 108.3 113.4 340.4 382.8 Repair Systems & Information Group 107.3 104.9 333.8 319.9 Financial Services 71.7 69.4 210.2 202.6 Segment operating earnings 348.3 345.8 1,063.0 1,077.3 Corporate (24.2) (31.2) (49.2) (92.7) Operating earnings 324.1 314.6 1,013.8 984.6 Interest expense (12.5) (12.4) (37.3) (37.4) Other income (expense) – net 20.6 18.0 57.4 50.0 Earnings before income taxes $ 332.2 $ 320.2 $ 1,033.9 $ 997.2
Schedule of Assets by Segment	(Amounts in millions) September 28, December 30, 2023 Assets: Commercial & Industrial Group $ 1,293.0 $ 1,293.7 Snap-on Tools Group 986.2 941.8 Repair Systems & Information Group 1,661.3 1,680.0 Financial Services 2,505.4 2,430.0 Total assets from reportable segments 6,445.9 6,345.5 Corporate 1,602.5 1,285.0 Elimination of intersegment receivables (95.1) (85.6) Total assets $ 7,953.3 $ 7,544.9

Revenue Recognition - Revenue D

Revenue Recognition - Revenue Disaggregation (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 28, 2024	Sep. 30, 2023	Sep. 28, 2024	Sep. 30, 2023
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	$ 1,139.3	$ 1,152.2	$ 3,486.5	$ 3,513.3
Net sales	1,247.4	1,254.2	3,809.2	3,814.5
Intersegment eliminations
Disaggregation of Revenue [Line Items]
Net sales	(141.9)	(154.3)	(412.8)	(466.7)
Commercial & Industrial Group | Operating Segments
Disaggregation of Revenue [Line Items]
Net sales	365.7	366.4	1,097.6	1,094.4
Snap-on Tools Group | Operating Segments
Disaggregation of Revenue [Line Items]
Net sales	500.5	515.4	1,482.6	1,575.5
Repair Systems & Information Group | Operating Segments
Disaggregation of Revenue [Line Items]
Net sales	422.7	431.8	1,341.3	1,330.4
Financial Services | Operating Segments
Disaggregation of Revenue [Line Items]
Net sales	100.4	94.9	300.5	280.9
Other revenues
Disaggregation of Revenue [Line Items]
Net sales	7.7	7.1	22.2	20.3
Total net sales
Disaggregation of Revenue [Line Items]
Net sales	1,147	1,159.3	3,508.7	3,533.6
Total net sales | External Sales
Disaggregation of Revenue [Line Items]
Net sales	1,147	1,159.3	3,508.7	3,533.6
Total net sales | Vehicle service professionals | External Sales
Disaggregation of Revenue [Line Items]
Net sales	878.4	898.2	2,685.4	2,746.9
Total net sales | All other professionals | External Sales
Disaggregation of Revenue [Line Items]
Net sales	268.6	261.1	823.3	786.7
Total net sales | Operating Segments
Disaggregation of Revenue [Line Items]
Net sales	1,288.9	1,313.6	3,921.5	4,000.3
Total net sales | Intersegment eliminations
Disaggregation of Revenue [Line Items]
Net sales	(141.9)	(154.3)	(412.8)	(466.7)
Total net sales | Commercial & Industrial Group | Operating Segments
Disaggregation of Revenue [Line Items]
Net sales	365.7	366.4	1,097.6	1,094.4
Total net sales | Commercial & Industrial Group | Operating Segments | External Sales
Disaggregation of Revenue [Line Items]
Net sales	288.7	280.5	884.7	848.9
Total net sales | Commercial & Industrial Group | Operating Segments | Vehicle service professionals | External Sales
Disaggregation of Revenue [Line Items]
Net sales	20.1	19.4	61.4	62.2
Total net sales | Commercial & Industrial Group | Operating Segments | All other professionals | External Sales
Disaggregation of Revenue [Line Items]
Net sales	268.6	261.1	823.3	786.7
Total net sales | Commercial & Industrial Group | Intersegment eliminations
Disaggregation of Revenue [Line Items]
Net sales	77	85.9	212.9	245.5
Total net sales | Snap-on Tools Group | Operating Segments
Disaggregation of Revenue [Line Items]
Net sales	500.5	515.4	1,482.6	1,575.5
Total net sales | Snap-on Tools Group | Operating Segments | External Sales
Disaggregation of Revenue [Line Items]
Net sales	500.5	515.4	1,482.6	1,575.5
Total net sales | Snap-on Tools Group | Operating Segments | Vehicle service professionals | External Sales
Disaggregation of Revenue [Line Items]
Net sales	500.5	515.4	1,482.6	1,575.5
Total net sales | Snap-on Tools Group | Operating Segments | All other professionals | External Sales
Disaggregation of Revenue [Line Items]
Net sales	0	0	0	0
Total net sales | Snap-on Tools Group | Intersegment eliminations
Disaggregation of Revenue [Line Items]
Net sales	0	0	0	0
Total net sales | Repair Systems & Information Group | Operating Segments
Disaggregation of Revenue [Line Items]
Net sales	422.7	431.8	1,341.3	1,330.4
Total net sales | Repair Systems & Information Group | Operating Segments | External Sales
Disaggregation of Revenue [Line Items]
Net sales	357.8	363.4	1,141.4	1,109.2
Total net sales | Repair Systems & Information Group | Operating Segments | Vehicle service professionals | External Sales
Disaggregation of Revenue [Line Items]
Net sales	357.8	363.4	1,141.4	1,109.2
Total net sales | Repair Systems & Information Group | Operating Segments | All other professionals | External Sales
Disaggregation of Revenue [Line Items]
Net sales	0	0	0	0
Total net sales | Repair Systems & Information Group | Intersegment eliminations
Disaggregation of Revenue [Line Items]
Net sales	64.9	68.4	199.9	221.2
Total net sales | Financial Services | Operating Segments
Disaggregation of Revenue [Line Items]
Net sales	0	0	0	0
Total net sales | Financial Services | Operating Segments | External Sales
Disaggregation of Revenue [Line Items]
Net sales	0	0	0	0
Total net sales | Financial Services | Operating Segments | Vehicle service professionals | External Sales
Disaggregation of Revenue [Line Items]
Net sales	0	0	0	0
Total net sales | Financial Services | Operating Segments | All other professionals | External Sales
Disaggregation of Revenue [Line Items]
Net sales	0	0	0	0
Total net sales | Financial Services | Intersegment eliminations
Disaggregation of Revenue [Line Items]
Net sales	0	0	0	0
Total net sales | North America | External Sales
Disaggregation of Revenue [Line Items]
Net sales	863.1	879.8	2,622.2	2,662.6
Total net sales | North America | Commercial & Industrial Group | Operating Segments | External Sales
Disaggregation of Revenue [Line Items]
Net sales	155.2	146.4	467.3	428.3
Total net sales | North America | Snap-on Tools Group | Operating Segments | External Sales
Disaggregation of Revenue [Line Items]
Net sales	434	451.4	1,280.7	1,384.6
Total net sales | North America | Repair Systems & Information Group | Operating Segments | External Sales
Disaggregation of Revenue [Line Items]
Net sales	273.9	282	874.2	849.7
Total net sales | North America | Financial Services | Operating Segments | External Sales
Disaggregation of Revenue [Line Items]
Net sales	0	0	0	0
Total net sales | Europe | External Sales
Disaggregation of Revenue [Line Items]
Net sales	168.3	161.1	536.4	513.1
Total net sales | Europe | Commercial & Industrial Group | Operating Segments | External Sales
Disaggregation of Revenue [Line Items]
Net sales	72.2	69.6	230	220.1
Total net sales | Europe | Snap-on Tools Group | Operating Segments | External Sales
Disaggregation of Revenue [Line Items]
Net sales	37.4	37.5	118.4	112.2
Total net sales | Europe | Repair Systems & Information Group | Operating Segments | External Sales
Disaggregation of Revenue [Line Items]
Net sales	58.7	54	188	180.8
Total net sales | Europe | Financial Services | Operating Segments | External Sales
Disaggregation of Revenue [Line Items]
Net sales	0	0	0	0
Total net sales | All other | External Sales
Disaggregation of Revenue [Line Items]
Net sales	115.6	118.4	350.1	357.9
Total net sales | All other | Commercial & Industrial Group | Operating Segments | External Sales
Disaggregation of Revenue [Line Items]
Net sales	61.3	64.5	187.4	200.5
Total net sales | All other | Snap-on Tools Group | Operating Segments | External Sales
Disaggregation of Revenue [Line Items]
Net sales	29.1	26.5	83.5	78.7
Total net sales | All other | Repair Systems & Information Group | Operating Segments | External Sales
Disaggregation of Revenue [Line Items]
Net sales	25.2	27.4	79.2	78.7
Total net sales | All other | Financial Services | Operating Segments | External Sales
Disaggregation of Revenue [Line Items]
Net sales	0	0	0	0
Financial services revenue
Disaggregation of Revenue [Line Items]
Net sales	100.4	94.9	300.5	280.9
Financial services revenue | Intersegment eliminations
Disaggregation of Revenue [Line Items]
Net sales	0	0	0	0
Financial services revenue | Commercial & Industrial Group | Operating Segments
Disaggregation of Revenue [Line Items]
Net sales	0	0	0	0
Financial services revenue | Snap-on Tools Group | Operating Segments
Disaggregation of Revenue [Line Items]
Net sales	0	0	0	0
Financial services revenue | Repair Systems & Information Group | Operating Segments
Disaggregation of Revenue [Line Items]
Net sales	0	0	0	0
Financial services revenue | Financial Services
Disaggregation of Revenue [Line Items]
Net sales	100.4	94.9	300.5	280.9
Financial services revenue | Financial Services | Operating Segments
Disaggregation of Revenue [Line Items]
Net sales	$ 100.4	$ 94.9	$ 300.5	$ 280.9

Revenue Recognition - Narrative

Revenue Recognition - Narrative (Details) $ in Millions	3 Months Ended	9 Months Ended
	Sep. 28, 2024 USD ($) revenueCategory	Sep. 28, 2024 USD ($) revenueCategory	Dec. 30, 2023 USD ($)
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Number of revenue product and service categories | revenueCategory	3	3
Revenue, performance obligation, description of timing		The remaining duration of these unsatisfied performance obligations range from one month up to 60 months.
Contractual obligation	$ 183	$ 183
Contract with customer, liability	67.4	67.4	$ 63.3
Contract with customer, liability, revenue recognized	$ 4.5	$ 53.3
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-09-29
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Revenue, remaining performance obligation, expected timing of satisfaction, period	15 months	15 months
Revenue, remaining performance obligation, percentage of revenue recognized	55%	55%
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-12-28
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Revenue, remaining performance obligation, expected timing of satisfaction, period	2 years	2 years
Revenue, remaining performance obligation, percentage of revenue recognized	40%	40%
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2028-01-02
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Revenue, remaining performance obligation, expected timing of satisfaction, period
Minimum
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Revenue, remaining performance obligation, expected timing of satisfaction, period	1 month	1 month
Maximum
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Revenue, remaining performance obligation, expected timing of satisfaction, period	60 months	60 months
Transferred at Point in Time | Sales Revenue, Net | Ship and Bill Performance Obligations
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Concentration risk, percentage		90%

Acquisitions (Details)

Acquisitions (Details) - USD ($) $ in Millions	Nov. 20, 2023	Nov. 01, 2023	Sep. 28, 2024	Dec. 30, 2023
Business Acquisition [Line Items]
Goodwill			$ 1,086.6	$ 1,097.4
S A V T E Q
Business Acquisition [Line Items]
Cash purchase price of acquisition	$ 3
Goodwill	$ 1.7
Mountz
Business Acquisition [Line Items]
Cash purchase price of acquisition		$ 39.6
Goodwill		$ 19.8	$ 19.8

Receivables - Narrative (Detail

Receivables - Narrative (Details)	9 Months Ended
	Sep. 28, 2024 portfolio_segment
Financing Receivable, Past Due [Line Items]
Minimum payment term for trade and other accounts receivable (in days)	30 days
Maximum payment term for trade and other accounts receivable (in days)	120 days
Average payment term for finance receivables (in years)	4 years
Maximum payment term for contract receivables (in years)	10 years
Number of portfolio segments	2
Minimum period past due to consider receivable balances as delinquent (in days)	30 days
Minimum period past due to declare receivable as non-accrual status (in days)	90 days
Finance Receivables
Financing Receivable, Past Due [Line Items]
Financing receivable, threshold period past due, writeoff (in days)	120 days
Financing receivable, threshold period after asset repossession, writeoff (in days)	60 days
Contract Receivables | Non-Franchisee
Financing Receivable, Past Due [Line Items]
Financing receivable, threshold period past due, writeoff (in days)	150 days
Contract Receivables | Franchisee
Financing Receivable, Past Due [Line Items]
Financing receivable, threshold period past due, writeoff (in days)	180 days
Financing Receivables And Contract Receivables, Customer Bankruptcy
Financing Receivable, Past Due [Line Items]
Financing receivable, threshold period past due, writeoff (in days)	180 days

Receivables - Components of Tra

Receivables - Components of Trade and Other Accounts Receivable (Details) - USD ($) $ in Millions	Sep. 28, 2024	Jun. 29, 2024	Dec. 30, 2023	Sep. 30, 2023	Jul. 01, 2023	Dec. 31, 2022
Receivables [Abstract]
Trade and other accounts receivable	$ 834.5		$ 826.2
Allowances for credit losses	(38.1)	$ (36.5)	(34.9)	$ (33.8)	$ (32.3)	$ (31.1)
Total trade and other accounts receivable – net	$ 796.4		$ 791.3

Receivables - Schedule of Allow

Receivables - Schedule of Allowance For Credit Losses On Receivables (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 28, 2024	Sep. 30, 2023	Sep. 28, 2024	Sep. 30, 2023
Allowances for credit losses:
Beginning of period	$ 36.5	$ 32.3	$ 34.9	$ 31.1
Provision for credit losses	5.3	5.5	16.2	13.7
Charge-offs	(4.3)	(3.6)	(12.9)	(10.9)
Recoveries	0.1	0	0.2	0
Currency translation	0.5	(0.4)	(0.3)	(0.1)
End of period	$ 38.1	$ 33.8	$ 38.1	$ 33.8

Receivables - Components of Cur

Receivables - Components of Current Finance and Contract Receivables (Details) - USD ($) $ in Millions	Sep. 28, 2024	Dec. 30, 2023
Financing Receivable, Allowance for Credit Loss [Line Items]
Finance and contract receivables, current	$ 771.3	$ 737.9
Allowance for credit losses, current	(24.5)	(23)
Total current finance and contract receivables – net	746.8	714.9
Finance Receivables
Financing Receivable, Allowance for Credit Loss [Line Items]
Finance and contract receivables, current	647.4	615.3
Allowance for credit losses, current	(22.7)	(21.2)
Total current finance and contract receivables – net	624.7	594.1
Finance Receivables | Finance installment receivables
Financing Receivable, Allowance for Credit Loss [Line Items]
Finance and contract receivables, current	630.4	605.2
Allowance for credit losses, current	(22.4)	(21.1)
Finance Receivables | Finance lease receivables
Financing Receivable, Allowance for Credit Loss [Line Items]
Unearned finance charges, current	6.4	3.4
Finance and contract receivables, current	17	10.1
Allowance for credit losses, current	(0.3)	(0.1)
Contract Receivables
Financing Receivable, Allowance for Credit Loss [Line Items]
Finance and contract receivables, current	123.9	122.6
Allowance for credit losses, current	(1.8)	(1.8)
Total current finance and contract receivables – net	122.1	120.8
Contract Receivables | Finance installment receivables
Financing Receivable, Allowance for Credit Loss [Line Items]
Finance and contract receivables, current	61.9	59.9
Allowance for credit losses, current	(0.9)	(0.9)
Contract Receivables | Finance lease receivables
Financing Receivable, Allowance for Credit Loss [Line Items]
Unearned finance charges, current	22.1	21.1
Finance and contract receivables, current	62	62.7
Allowance for credit losses, current	$ (0.9)	$ (0.9)

Receivables - Components of Fin

Receivables - Components of Finance and Contract Receivables Beyond One Year (Details) - USD ($) $ in Millions	Sep. 28, 2024	Dec. 30, 2023
Financing Receivable, Allowance for Credit Loss [Line Items]
Long-term finance and contract receivables	$ 1,784.5	$ 1,743.6
Allowance for credit loss, noncurrent	(53.4)	(51.5)
Total long-term finance and contract receivables – net	1,731.1	1,692.1
Finance Receivables
Financing Receivable, Allowance for Credit Loss [Line Items]
Long-term finance and contract receivables	1,357.3	1,330.8
Allowance for credit loss, noncurrent	(48.3)	(46.6)
Total long-term finance and contract receivables – net	1,309	1,284.2
Finance Receivables | Finance installment receivables
Financing Receivable, Allowance for Credit Loss [Line Items]
Long-term finance and contract receivables	1,334.1	1,318.5
Allowance for credit loss, noncurrent	(47.8)	(46.4)
Finance Receivables | Finance lease receivables
Financing Receivable, Allowance for Credit Loss [Line Items]
Unearned finance charges, noncurrent	5.5	2.8
Long-term finance and contract receivables	23.2	12.3
Allowance for credit loss, noncurrent	(0.5)	(0.2)
Contract Receivables
Financing Receivable, Allowance for Credit Loss [Line Items]
Long-term finance and contract receivables	427.2	412.8
Allowance for credit loss, noncurrent	(5.1)	(4.9)
Total long-term finance and contract receivables – net	422.1	407.9
Contract Receivables | Finance installment receivables
Financing Receivable, Allowance for Credit Loss [Line Items]
Long-term finance and contract receivables	225	216
Allowance for credit loss, noncurrent	(3.3)	(3.1)
Contract Receivables | Finance lease receivables
Financing Receivable, Allowance for Credit Loss [Line Items]
Unearned finance charges, noncurrent	37	35.1
Long-term finance and contract receivables	202.2	196.8
Allowance for credit loss, noncurrent	$ (1.8)	$ (1.8)

Receivables - Schedule of Perfo

Receivables - Schedule of Performing and Nonperforming Finance and Contract Receivables (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 28, 2024	Sep. 30, 2023	Sep. 28, 2024	Sep. 30, 2023	Dec. 30, 2023
Finance Receivables
Financing and contract receivables
2024	$ 1,119		$ 1,119
2023	578.8		578.8
2022	203.6		203.6
2021	71.1		71.1
2020	26.6		26.6
Prior	5.6		5.6
Total	2,004.7		2,004.7		$ 1,946.1
Financing and contract receivables charge-offs
2024			2
2023			25.8
2022			15.3
2021			6.5
2020			3.4
Prior			1.7
Total	17.7	$ 13.7	54.7	$ 42.1
Contract Receivables
Financing and contract receivables
2024	158.3		158.3
2023	151.6		151.6
2022	99		99
2021	63.2		63.2
2020	40.4		40.4
Prior	38.6		38.6
Total	551.1		551.1		$ 535.4
Financing and contract receivables charge-offs
2024			0
2023			0.3
2022			0.5
2021			0.4
2020			0.3
Prior			0.3
Total	0.8	$ 0.7	1.8	$ 1.6
Delinquent | Finance Receivables
Financing and contract receivables
2024	14.4		14.4
2023	25.7		25.7
2022	12.2		12.2
2021	5.8		5.8
2020	2.9		2.9
Prior	1.1		1.1
Total	62.1		62.1
Delinquent | Contract Receivables
Financing and contract receivables
2024	0.3		0.3
2023	0.6		0.6
2022	1		1
2021	0.4		0.4
2020	0.5		0.5
Prior	0.4		0.4
Total	3.2		3.2
Non-delinquent | Finance Receivables
Financing and contract receivables
2024	1,104.6		1,104.6
2023	553.1		553.1
2022	191.4		191.4
2021	65.3		65.3
2020	23.7		23.7
Prior	4.5		4.5
Total	1,942.6		1,942.6
Non-delinquent | Contract Receivables
Financing and contract receivables
2024	158		158
2023	151		151
2022	98		98
2021	62.8		62.8
2020	39.9		39.9
Prior	38.2		38.2
Total	$ 547.9		$ 547.9

Receivables - Finance and Contr

Receivables - Finance and Contract Receivables Allowance for Credit Losses Rollforward (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 28, 2024	Sep. 30, 2023	Sep. 28, 2024	Sep. 30, 2023
Allowances for credit losses:
Provision for credit losses			$ 50.6	$ 40.7
Finance Receivables
Allowances for credit losses:
Beginning of period	$ 71.1	$ 65.1	67.8	60.9
Provision for credit losses	15.2	12.8	50.6	40.7
Charge-offs	(17.7)	(13.7)	(54.7)	(42.1)
Recoveries	2.2	1.9	7.2	6.5
Currency translation	0.2	(0.1)	0.1	0
End of period	71	66	71	66
Contract Receivables
Allowances for credit losses:
Beginning of period	6.8	6.5	6.7	6.6
Provision for credit losses	0.7	0.7	1.6	1.3
Charge-offs	(0.8)	(0.7)	(1.8)	(1.6)
Recoveries	0.1	0.1	0.3	0.3
Currency translation	0.1	(0.1)	0.1	(0.1)
End of period	$ 6.9	$ 6.5	$ 6.9	$ 6.5

Receivables - Aging of Finance

Receivables - Aging of Finance and Contract Receivables (Details) - USD ($) $ in Millions	Sep. 28, 2024	Dec. 30, 2023
Finance Receivables
Financing Receivable, Past Due [Line Items]
Total	$ 2,004.7	$ 1,946.1
Greater Than 90 Days Past Due and Accruing	21.8	19.9
Finance Receivables | Total Past Due
Financing Receivable, Past Due [Line Items]
Total	62.1	58.3
Finance Receivables | 30-59 Days Past Due
Financing Receivable, Past Due [Line Items]
Total	21.9	21.5
Finance Receivables | 60-90 Days Past Due
Financing Receivable, Past Due [Line Items]
Total	14.5	13.6
Finance Receivables | Greater Than 90 Days Past Due
Financing Receivable, Past Due [Line Items]
Total	25.7	23.2
Finance Receivables | Total Not Past Due
Financing Receivable, Past Due [Line Items]
Total	1,942.6	1,887.8
Contract Receivables
Financing Receivable, Past Due [Line Items]
Total	551.1	535.4
Greater Than 90 Days Past Due and Accruing	0.2	0.2
Contract Receivables | Total Past Due
Financing Receivable, Past Due [Line Items]
Total	3.2	3.3
Contract Receivables | 30-59 Days Past Due
Financing Receivable, Past Due [Line Items]
Total	1.2	1.5
Contract Receivables | 60-90 Days Past Due
Financing Receivable, Past Due [Line Items]
Total	0.5	0.6
Contract Receivables | Greater Than 90 Days Past Due
Financing Receivable, Past Due [Line Items]
Total	1.5	1.2
Contract Receivables | Total Not Past Due
Financing Receivable, Past Due [Line Items]
Total	$ 547.9	$ 532.1

Receivables - Schedule of Finan

Receivables - Schedule of Finance and Contract Receivables on Nonaccrual Status (Details) - USD ($) $ in Millions	Sep. 28, 2024	Dec. 30, 2023
Finance Receivables
Financing Receivable, Past Due [Line Items]
Nonaccrual	$ 11.8	$ 10.6
Contract Receivables
Financing Receivable, Past Due [Line Items]
Nonaccrual	$ 2.4	$ 3.3

Inventories - Schedule of Inven

Inventories - Schedule of Inventories by Major Classification (Details) - USD ($) $ in Millions	Sep. 28, 2024	Dec. 30, 2023
Inventory Disclosure [Abstract]
Finished goods	$ 873.3	$ 874.6
Work in progress	78.4	76.1
Raw materials	169.8	171.1
Total FIFO value	1,121.5	1,121.8
Excess of current cost over LIFO cost	(125.7)	(115.9)
Total inventories – net	$ 995.8	$ 1,005.9

Inventories - Narrative (Detail

Inventories - Narrative (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 28, 2024	Sep. 30, 2023	Sep. 28, 2024	Sep. 30, 2023	Dec. 30, 2023
Geographic Valuation Methodologies Of Inventory [Line Items]
Percentage of FIFO inventory	58%		58%		59%
Effect of LIFO inventory liquidation on income	$ 0	$ 0	$ 0	$ 0
United States
Geographic Valuation Methodologies Of Inventory [Line Items]
Percentage of FIFO inventory	35%		35%
Percentage of LIFO inventory	65%		65%

Goodwill and Other Intangible_3

Goodwill and Other Intangible Assets - Changes in Carrying Amount of Goodwill by Segment (Details) $ in Millions	9 Months Ended
	Sep. 28, 2024 USD ($)
Goodwill [Roll Forward]
Beginning balances	$ 1,097.4
Currency translation	2.4
Acquisition adjustments	(13.2)
Ending balances	1,086.6
Commercial & Industrial Group
Goodwill [Roll Forward]
Beginning balances	346.6
Currency translation	1.2
Acquisition adjustments	(13.2)
Ending balances	334.6
Snap-on Tools Group
Goodwill [Roll Forward]
Beginning balances	12.4
Currency translation	0
Acquisition adjustments	0
Ending balances	12.4
Repair Systems & Information Group
Goodwill [Roll Forward]
Beginning balances	738.4
Currency translation	1.2
Acquisition adjustments	0
Ending balances	$ 739.6

Goodwill and Other Intangible_4

Goodwill and Other Intangible Assets - Narrative (Details) - USD ($)	3 Months Ended			9 Months Ended
	Sep. 28, 2024	Mar. 30, 2024	Sep. 30, 2023	Sep. 28, 2024	Sep. 30, 2023	Dec. 30, 2023	Nov. 01, 2023
Finite-Lived Intangible Assets [Line Items]
Goodwill	$ 1,086,600,000			$ 1,086,600,000		$ 1,097,400,000
Acquisition adjustments				(13,200,000)
Gross carrying value, finite-lived intangible assets	515,300,000			515,300,000		505,200,000
Non-amortized trademarks	143,300,000			143,300,000		137,400,000
Accumulated impairment losses	$ 0			$ 0
Weighted-average amortization period (in years)	12 years			12 years
Aggregate amortization expense	$ 6,300,000		$ 6,800,000	$ 19,000,000	$ 20,700,000
Estimated annual amortization expense for fiscal period 2024	25,400,000			25,400,000
Estimated annual amortization expense for fiscal period 2025	21,000,000			21,000,000
Estimated annual amortization expense for fiscal period 2026	16,100,000			16,100,000
Estimated annual amortization expense for fiscal period 2027	13,400,000			13,400,000
Estimated annual amortization expense for fiscal period 2028	11,400,000			11,400,000
Estimated annual amortization expense for fiscal period 2029	8,200,000			8,200,000
Customer relationships
Finite-Lived Intangible Assets [Line Items]
Gross carrying value, finite-lived intangible assets	$ 218,000,000			$ 218,000,000		214,500,000
Weighted-average amortization period (in years)	14 years			14 years
Trademarks
Finite-Lived Intangible Assets [Line Items]
Gross carrying value, finite-lived intangible assets	$ 3,900,000			$ 3,900,000		$ 4,000,000
Weighted-average amortization period (in years)	9 years			9 years
Mountz
Finite-Lived Intangible Assets [Line Items]
Goodwill	$ 19,800,000			$ 19,800,000			$ 19,800,000
Acquisition adjustments		$ 13,200,000
Mountz | Customer relationships
Finite-Lived Intangible Assets [Line Items]
Gross carrying value, finite-lived intangible assets	8,700,000			8,700,000
Mountz | Trademarks
Finite-Lived Intangible Assets [Line Items]
Non-amortized trademarks	$ 5,400,000			$ 5,400,000

Goodwill and Other Intangible_5

Goodwill and Other Intangible Assets - Other Intangible Assets by Major Class (Details) - USD ($) $ in Millions	Sep. 28, 2024	Dec. 30, 2023
Finite-Lived Intangible Assets [Line Items]
Gross  Carrying Value	$ 515.3	$ 505.2
Non-amortized trademarks	143.3	137.4
Total other intangible assets	658.6	642.6
Accumulated Amortization	(381.3)	(373.7)
Net Carrying Value	134	131.5
Non-amortized trademarks	143.3	137.4
Total other intangible assets	277.3	268.9
Customer relationships
Finite-Lived Intangible Assets [Line Items]
Gross  Carrying Value	218	214.5
Accumulated Amortization	(165.7)	(163.6)
Net Carrying Value	52.3	50.9
Developed technology
Finite-Lived Intangible Assets [Line Items]
Gross  Carrying Value	36.6	36.2
Accumulated Amortization	(32.4)	(29.8)
Net Carrying Value	4.2	6.4
Internally developed software
Finite-Lived Intangible Assets [Line Items]
Gross  Carrying Value	202	191.3
Accumulated Amortization	(156.6)	(148.2)
Net Carrying Value	45.4	43.1
Patents
Finite-Lived Intangible Assets [Line Items]
Gross  Carrying Value	48.5	53
Accumulated Amortization	(21.2)	(26.8)
Net Carrying Value	27.3	26.2
Trademarks
Finite-Lived Intangible Assets [Line Items]
Gross  Carrying Value	3.9	4
Accumulated Amortization	(2.5)	(2.5)
Net Carrying Value	1.4	1.5
Other
Finite-Lived Intangible Assets [Line Items]
Gross  Carrying Value	6.3	6.2
Accumulated Amortization	(2.9)	(2.8)
Net Carrying Value	$ 3.4	$ 3.4

Goodwill and Other Intangible_6

Goodwill and Other Intangible Assets - Weighted-Average Amortization Period by Major Class (Details)	Sep. 28, 2024
Finite-Lived Intangible Assets [Line Items]
Weighted-average amortization period (in years)	12 years
Customer relationships
Finite-Lived Intangible Assets [Line Items]
Weighted-average amortization period (in years)	14 years
Developed technology
Finite-Lived Intangible Assets [Line Items]
Weighted-average amortization period (in years)	5 years
Internally developed software
Finite-Lived Intangible Assets [Line Items]
Weighted-average amortization period (in years)	6 years
Patents
Finite-Lived Intangible Assets [Line Items]
Weighted-average amortization period (in years)	15 years
Trademarks
Finite-Lived Intangible Assets [Line Items]
Weighted-average amortization period (in years)	9 years
Other
Finite-Lived Intangible Assets [Line Items]
Weighted-average amortization period (in years)	39 years

Income Taxes (Details)

Income Taxes (Details) - USD ($)	9 Months Ended
	Sep. 28, 2024	Sep. 30, 2023
Income Tax [Line Items]
Effective income tax rate	22.60%	22.90%
Minimum
Income Tax [Line Items]
Decrease in unrecognized tax benefits	$ 0
Increase in unrecognized tax benefits	0
Maximum
Income Tax [Line Items]
Decrease in unrecognized tax benefits	600,000
Increase in unrecognized tax benefits	$ 900,000

Short-term and Long-term Debt -

Short-term and Long-term Debt - Schedule of Short-term and Long-term Debt (Details) - USD ($) $ in Millions	Sep. 28, 2024	Dec. 30, 2023
Schedule Of Debt Instruments [Line Items]
Long term debt	$ 1,199.6	$ 1,200.2
Total long-term debt	1,185.3	1,184.6
Less: notes payable
Schedule Of Debt Instruments [Line Items]
Less: notes payable	(14.3)	(15.6)
Other
Schedule Of Debt Instruments [Line Items]
Other debt	$ (0.4)	0.2
3.25% unsecured notes due 2027 | Unsecured Debt
Schedule Of Debt Instruments [Line Items]
Unsecured notes, interest rate	3.25%
Long term debt	$ 300	300
4.10% unsecured notes due 2048 | Unsecured Debt
Schedule Of Debt Instruments [Line Items]
Unsecured notes, interest rate	4.10%
Long term debt	$ 400	400
3.10% unsecured notes due 2050 | Unsecured Debt
Schedule Of Debt Instruments [Line Items]
Unsecured notes, interest rate	3.10%
Long term debt	$ 500	$ 500

Short-term and Long-term Debt_2

Short-term and Long-term Debt - Narrative (Details)	9 Months Ended
	Sep. 28, 2024 USD ($) revision
Commercial paper borrowings
Schedule Of Debt Instruments [Line Items]
Short-term debt	$ 0
Five-year Multi-Currency Revolving Credit Facility
Schedule Of Debt Instruments [Line Items]
Revolving credit facility, maximum capacity	900,000,000
Revolving credit facility, outstanding amount	$ 0
Number of allowed revisions to debt ratios | revision	2
Debt maturity, term	5 years
Actual debt-to-capital ratio	(0.01)
Actual debt-to-income ratio	(0.03)
Five-year Multi-Currency Revolving Credit Facility | Line of Credit
Schedule Of Debt Instruments [Line Items]
Revolving credit facility, maximum capacity	$ 450,000,000
Five-year Multi-Currency Revolving Credit Facility | Maximum
Schedule Of Debt Instruments [Line Items]
Maximum limit of required debt-to-capital ratio	0.60
Maximum limit of required debt-to-income ratio	3.50
Five-year Multi-Currency Revolving Credit Facility | Maximum | Material Acquisition
Schedule Of Debt Instruments [Line Items]
Maximum limit of required debt-to-capital ratio	0.65
Maximum limit of required debt-to-income ratio	4

Financial Instruments - Narrati

Financial Instruments - Narrative (Details) - USD ($)	Sep. 28, 2024	Dec. 30, 2023
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Equity forwards in place of common stock associated with its deferred compensation plans (in shares)	77,200
Treasury locks
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Treasury locks outstanding	$ 0	$ 0
Fair Value Hedging
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Notional amount of interest rate swaps outstanding and designated as fair value hedges	$ 0	$ 0

Financial Instruments - Fair Va

Financial Instruments - Fair Values of Financial Instruments Not Approximating Carrying Values in Financial Statements (Details) - USD ($) $ in Millions	Sep. 28, 2024	Dec. 30, 2023
Carrying Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt and notes payable	$ 1,199.6	$ 1,200.2
Carrying Value | Finance Receivables
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Receivables - net	1,933.7	1,878.3
Carrying Value | Contract Receivables
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Receivables - net	544.2	528.7
Fair Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt and notes payable	1,007.9	1,031.5
Fair Value | Finance Receivables
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Receivables - net	2,208.3	2,138.7
Fair Value | Contract Receivables
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Receivables - net	$ 583.7	$ 561.6

Pension Plans - Net Periodic Pe

Pension Plans - Net Periodic Pension (Benefit) Cost (Details) - Pension Plans, Defined Benefit - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 28, 2024	Sep. 30, 2023	Sep. 28, 2024	Sep. 30, 2023
Defined Benefit Plan Disclosure [Line Items]
Service cost	$ 5	$ 4.7	$ 15	$ 14.1
Interest cost	16.4	16.3	49.2	49
Expected return on plan assets	(25.5)	(26.1)	(76.3)	(78.4)
Amortization of unrecognized loss	2.3	0.4	6.9	1.1
Net periodic pension benefit	$ (1.8)	$ (4.7)	$ (5.2)	$ (14.2)

Pension Plans - Narrative (Deta

Pension Plans - Narrative (Details) - Pension Plans, Defined Benefit $ in Millions	Sep. 28, 2024 USD ($)
Foreign Pension Plans
Defined Benefit Plan Disclosure [Line Items]
Expected future employer contributions	$ 6
United States Pension Plans
Defined Benefit Plan Disclosure [Line Items]
Expected future employer contributions	$ 3.7

Postretirement Health Care Pl_3

Postretirement Health Care Plans (Details) - Postretirement Health Coverage - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 28, 2024	Sep. 30, 2023	Sep. 28, 2024	Sep. 30, 2023
Postretirement Health Care Plans [Line Items]
Interest cost	$ 0.5	$ 0.4	$ 1.4	$ 1.5
Expected return on plan assets	(0.2)	(0.1)	(0.5)	(0.5)
Amortization of unrecognized gain	(0.3)	(0.3)	(0.9)	(0.9)
Net periodic pension benefit	$ 0	$ 0	$ 0	$ 0.1

Stock-based Compensation and _3

Stock-based Compensation and Other Stock Plans - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 28, 2024	Sep. 30, 2023	Sep. 28, 2024	Sep. 30, 2023
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Net stock-based compensation expense	$ 5.7	$ 11	$ 21.5	$ 31.4
Cash received from stock purchase and option plan exercises	9.9	9.9	61.6	94.5
Tax benefit realized from exercise and vesting of share-based payment arrangements	$ 1.8	$ 2.6	$ 12.9	$ 13.1
2011 Incentive Stock and Awards Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares available for grant (in shares)	2,091,365		2,091,365

Stock-based Compensation and _4

Stock-based Compensation and Other Stock Plans - Stock Options Narrative (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 28, 2024	Sep. 30, 2023	Sep. 28, 2024	Sep. 30, 2023
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options, weighted-average grant date fair value granted (in dollars per share)			$ 55.07	$ 51.09
Intrinsic value of options exercised	$ 7.3	$ 9.9	$ 30	$ 57
Fair value of options vested			$ 9.5	$ 9.1
Stock Option
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted average contractual term (in years)			10 years
Unrecognized compensation cost related to non-vested award	$ 15.7		$ 15.7
Cost expected to be recognized over weighted-average period (in years)			1 year 8 months 12 days

Stock-based Compensation and _5

Stock-based Compensation and Other Stock Plans - Stock Options, Summary of Weighted Average Assumptions of Fair Value Granted Using Black-Scholes Valuation Model (Details) - shares	3 Months Ended		9 Months Ended
	Sep. 28, 2024	Sep. 30, 2023	Sep. 28, 2024	Sep. 30, 2023
Share-Based Payment Arrangement [Abstract]
Granted (in shares)	0	0	233,000
Stock Option
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected term of stock option (in years)			4 years 10 months 24 days	4 years 10 months 20 days
Expected volatility factor			23.63%	23.99%
Expected dividend yield			2.76%	2.60%
Risk-free interest rate			4.30%	3.99%

Stock-based Compensation and _6

Stock-based Compensation and Other Stock Plans - Schedule of Changes in Stock Options (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 28, 2024	Sep. 30, 2023	Sep. 28, 2024
Shares
Beginning balance (in shares)			1,916,000
Granted (in shares)	0	0	233,000
Exercised (in shares)			(268,000)
Forfeited or expired (in shares)			(33,000)
Ending balance (in shares)	1,848,000		1,848,000
Exercisable at end of period (in shares)	1,401,000		1,401,000
Exercise Price Per Share
Beginning balance (in dollars per share)			$ 177.79
Granted (in dollars per share)			269.01
Exercised (in dollars per share)			167.84
Forfeited or expired (in dollars per share)			245.05
Ending balance (in dollars per share)	$ 189.56		189.56
Exercisable at end of period (in dollars per share)	$ 169.56		$ 169.56
Remaining Contractual Term and Aggregate Intrinsic Value
Outstanding, remaining contractual term (in years)			5 years 3 months 18 days
Exercisable, remaining contractual term (in years)			4 years 3 months 18 days
Outstanding, aggregate intrinsic value	$ 182.9		$ 182.9
Exercisable, aggregate intrinsic value	$ 166.7		$ 166.7

Stock-based Compensation and _7

Stock-based Compensation and Other Stock Plans - Performance Share Unit and Restricted Stock Unit Narrative (Details) - USD ($) $ / shares in Units, $ in Millions	9 Months Ended
	Sep. 28, 2024	Sep. 30, 2023
Performance Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted average contractual term (in years)	3 years
Maximum stock percentage to be awarded	100%
Performance period	3 years
Weighted-average grant date fair value granted (in dollars per share)	$ 269	$ 249.26
Performance awards shares paid out (in shares)	137,096	60,402
Unrecognized compensation cost related to non-vested award	$ 18.4
Cost expected to be recognized over weighted-average period (in years)	1 year 1 month 6 days
Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted average contractual term (in years)	3 years
Weighted-average grant date fair value granted (in dollars per share)	$ 269	$ 249.26
Unrecognized compensation cost related to non-vested award	$ 7.9
Cost expected to be recognized over weighted-average period (in years)	1 year 3 months 18 days
Cliff vesting schedule	3 years

Stock-based Compensation and _8

Stock-based Compensation and Other Stock Plans - Schedule of Performance Share Unit and Restricted Stock Unit (Details) - $ / shares shares in Thousands	9 Months Ended
	Sep. 28, 2024	Sep. 30, 2023
Performance Awards
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Beginning balance (in shares)	177
Granted (in shares)	53
Performance assumption change (in shares)	(32)
Vested (in shares)	0
Cancellations and other (in shares)	(8)
Ending balance (in shares)	190
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value
Beginning balance (in dollars per share)	$ 226.81
Granted (in dollars per share)	269	$ 249.26
Performance assumption change (in dollars per share)	211.67
Vested (in dollars per share)	0
Cancellations and other (in dollars per share)	247.56
Ending balance (in dollars per share)	$ 240.18
Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Beginning balance (in shares)	80
Granted (in shares)	24
Vested (in shares)	(29)
Cancellations and other (in shares)	(3)
Ending balance (in shares)	72
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value
Beginning balance (in dollars per share)	$ 215.84
Granted (in dollars per share)	269	$ 249.26
Vested (in dollars per share)	190.48
Cancellations and other (in dollars per share)	251.93
Ending balance (in dollars per share)	$ 242.19

Stock-based Compensation and _9

Stock-based Compensation and Other Stock Plans - Stock Appreciation Rights Narrative (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 28, 2024	Sep. 30, 2023	Sep. 28, 2024	Sep. 30, 2023
Stock Appreciation Rights (SARs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted average contractual term (in years)			10 years
Weighted-average grant date fair value granted (in dollars per share)			$ 58.40
Intrinsic value of stock exercised	$ 0	$ 0	$ 0	$ 400,000
Fair value of stock vested			100,000	$ 100,000
Unrecognized compensation cost related to non-vested award	200,000		$ 200,000
Cost expected to be recognized over weighted-average period (in years)			1 year 8 months 12 days
Stock-Settled SARs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted-average grant date fair value granted (in dollars per share)			$ 52.12	$ 48.85
Intrinsic value of stock exercised	300,000	$ 200,000	$ 1,700,000	$ 5,000,000
Fair value of stock vested			2,300,000	$ 1,900,000
Unrecognized compensation cost related to non-vested award	$ 4,200,000		$ 4,200,000
Cost expected to be recognized over weighted-average period (in years)			1 year 8 months 12 days

Stock-based Compensation and_10

Stock-based Compensation and Other Stock Plans - Stock-Settled SARs, Summary of Weighted-Average Assumptions of Fair Value Granted Using Black-Scholes Valuation Model (Details) - Stock-Settled SARs - shares	3 Months Ended		9 Months Ended
	Sep. 28, 2024	Sep. 30, 2023	Sep. 28, 2024	Sep. 30, 2023
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted (in shares)	0	0	63,000
Expected term of stock-settled SARs (in years)			4 years 2 months 12 days	4 years 29 days
Expected volatility factor			23.80%	24.68%
Expected dividend yield			2.77%	2.60%
Risk-free interest rate			4.22%	3.87%

Stock-based Compensation and_11

Stock-based Compensation and Other Stock Plans - Schedule of Changes in Stock-Settled SARs (Details) - Stock-Settled SARs - USD ($) $ / shares in Units, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 28, 2024	Sep. 30, 2023	Sep. 28, 2024
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Beginning balance (in shares)			321,000
Granted (in shares)	0	0	63,000
Exercised (in shares)			(14,000)
Forfeited or expired (in shares)			(22,000)
Ending balance (in shares)	348,000		348,000
Exercisable at end of period (in shares)	222,000		222,000
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value
Beginning balance (in dollars per share)			$ 189.93
Granted (in dollars per share)			269
Exercised (in dollars per share)			159.83
Forfeited or expired (in dollars per share)			183.63
Ending balance (in dollars per share)	$ 205.76		205.76
Exercisable at end of period (in dollars per share)	$ 179.41		$ 179.41
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Additional Disclosures
Outstanding, remaining contractual term			6 years 6 months
Exercisable, remaining contractual term			5 years 3 months 18 days
Outstanding, aggregate intrinsic value	$ 28.8		$ 28.8
Exercisable, aggregate intrinsic value	$ 24.2		$ 24.2

Stock-based Compensation and_12

Stock-based Compensation and Other Stock Plans - Cash-Settled SARs, Summary of Weighted-Average Assumptions of Fair Value Granted Using Black-Scholes Valuation Model (Details) - Stock Appreciation Rights (SARs) - shares shares in Thousands	3 Months Ended		9 Months Ended
	Sep. 28, 2024	Sep. 30, 2023	Sep. 28, 2024	Sep. 30, 2023
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted (in shares)	0	0	1
Expected term (in years)			3 years 7 months 24 days	3 years 6 months 14 days
Expected volatility factor			23.53%	23.97%
Expected dividend yield			2.58%	2.54%
Risk-free interest rate			3.49%	4.80%

Stock-based Compensation and_13

Stock-based Compensation and Other Stock Plans - Schedule of Changes in Non-Vested Cash-Settled SARs (Details) - Stock Appreciation Rights (SARs) - $ / shares shares in Thousands	3 Months Ended		9 Months Ended
	Sep. 28, 2024	Sep. 30, 2023	Sep. 28, 2024
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Beginning balance (in shares)			2
Granted (in shares)	0	0	1
Vested (in shares)			(1)
Ending balance (in shares)	2		2
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value
Beginning balance (in dollars per share)			$ 79.16
Granted (in dollars per share)			58.40
Vested (in dollars per share)			81.39
Ending balance (in dollars per share)	$ 63.90		$ 63.90

Stock-based Compensation and_14

Stock-based Compensation and Other Stock Plans - Restricted Stock Awards, Non-employee Directors Narrative (Details) - Restricted Stock - Non Employee Directors - shares	9 Months Ended
	Sep. 28, 2024	Sep. 30, 2023
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted (in shares)	5,391	5,760
Vesting period	1 year

Stock-based Compensation and_15

Stock-based Compensation and Other Stock Plans - Employee Stock Purchase Plan Narrative (Details) - Employee Stock - USD ($)	3 Months Ended		9 Months Ended
	Sep. 28, 2024	Sep. 30, 2023	Sep. 28, 2024	Sep. 30, 2023
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares issued in period (in shares)			21,798	27,225
Shares reserved for future issuance (in shares)	529,800		529,800
Participant contributions held	$ 1,700,000		$ 1,700,000
Compensation expense	$ 100,000	$ 0	$ 200,000	$ 1,000,000

Stock-based Compensation and_16

Stock-based Compensation and Other Stock Plans - Franchise Stock Purchase Plan Narrative (Details) - Franchise Stock - USD ($)	3 Months Ended		9 Months Ended
	Sep. 28, 2024	Sep. 30, 2023	Sep. 28, 2024	Sep. 30, 2023
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares issued in period (in shares)			42,687	46,510
Shares reserved for future issuance (in shares)	136,049		136,049
Participant contributions held	$ 4,500,000		$ 4,500,000
Compensation expense	$ 100,000	$ 0	$ 200,000	$ 1,600,000

Earnings Per Share - Computatio

Earnings Per Share - Computation of Basic and Diluted Earnings Per Common Share (Details) - shares	3 Months Ended		9 Months Ended
	Sep. 28, 2024	Sep. 30, 2023	Sep. 28, 2024	Sep. 30, 2023
Earnings Per Share [Abstract]
Weighted-average common shares outstanding (in shares)	52,577,687	52,822,472	52,660,264	52,932,781
Effect of dilutive securities (in shares)	825,262	1,079,707	863,023	1,057,822
Diluted (in shares)	53,402,949	53,902,179	53,523,287	53,990,603

Earnings Per Share - Narrative

Earnings Per Share - Narrative (Details) - shares	9 Months Ended
	Sep. 28, 2024	Sep. 30, 2023
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Outstanding anti-dilutive options or stock settled SARs (in shares)	0	0

Commitments and Contingencies -

Commitments and Contingencies - Product Warranty Accrual Activity (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 28, 2024	Sep. 30, 2023	Sep. 28, 2024	Sep. 30, 2023
Warranty reserve:
Beginning of period	$ 15.2	$ 14.9	$ 14.7	$ 14.3
Additions	3.3	3.6	10.9	11.5
Usage	(3.5)	(3.9)	(10.6)	(11.2)
End of period	$ 15	$ 14.6	$ 15	$ 14.6

Commitment and Contingencies -

Commitment and Contingencies - Narrative (Details) $ in Millions	9 Months Ended
	Sep. 28, 2024 USD ($)
Commitments and Contingencies Disclosure [Abstract]
Proceeds from legal settlements	$ 22.5

Leases (Details)

Leases (Details) - USD ($) $ in Millions	Sep. 28, 2024	Dec. 30, 2023
Finance leases:
Property and equipment - gross	$ 18.2	$ 19.1
Accumulated depreciation	$ (16.6)	$ (16.8)
Finance lease, right-of-use asset, statement of financial position [Extensible List]	Property, Plant, and Equipment and Finance Lease Right-of-Use Asset, after Accumulated Depreciation and Amortization	Property, Plant, and Equipment and Finance Lease Right-of-Use Asset, after Accumulated Depreciation and Amortization
Property and equipment - net	$ 1.6	$ 2.3
Finance lease, liability, current, statement of financial position [Extensible List]	Other accrued liabilities	Other accrued liabilities
Other accrued liabilities	$ 0.8	$ 1.6
Finance lease, liability, noncurrent, statement of financial position [Extensible List]	Other long-term liabilities	Other long-term liabilities
Other long-term liabilities	$ 1	$ 1.1
Total finance lease liabilities	1.8	2.7
Operating leases:
Operating lease right-of-use assets	$ 78	$ 74.7
Operating lease, liability, current, statement of financial position [Extensible List]	Other accrued liabilities	Other accrued liabilities
Other accrued liabilities	$ 25.3	$ 23.8
Operating lease liabilities	57.1	54.6
Total operating lease liabilities	$ 82.4	$ 78.4

Other Income (Expense) - Net (D

Other Income (Expense) - Net (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 28, 2024	Sep. 30, 2023	Sep. 28, 2024	Sep. 30, 2023
Other Income and Expenses [Abstract]
Interest income	$ 15.2	$ 10.9	$ 42.3	$ 28.8
Net foreign exchange loss	(1.6)	(2.2)	(5.1)	(7.1)
Net periodic pension and postretirement benefits – non-service	6.8	9.4	20.2	28.2
Other	0.2	(0.1)	0	0.1
Total other income (expense) – net	$ 20.6	$ 18	$ 57.4	$ 50

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Income (Loss) - Net Changes in Accumulated OCI by Component, Net of Tax (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 28, 2024	Sep. 30, 2023	Sep. 28, 2024	Sep. 30, 2023
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	$ 5,308.9	$ 4,779.3	$ 5,093.4	$ 4,503.5
Other comprehensive income (loss) before reclassifications		(52.3)		(34)
Amounts reclassified from Accumulated OCI		(0.3)		(1)
Net other comprehensive income (loss)	80.1	(52.6)	24.8	(35)
Ending balance	5,497.7	4,852.4	5,497.7	4,852.4
AOCI Attributable to Parent
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	(504.8)	(510.7)	(449.5)	(528.3)
Other comprehensive income (loss) before reclassifications	79		21.4
Amounts reclassified from Accumulated OCI	1.1		3.4
Net other comprehensive income (loss)	80.1	(52.6)	24.8	(35)
Ending balance	(424.7)	(563.3)	(424.7)	(563.3)
Foreign Currency Translation
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	(269.4)	(254.2)	(211.8)	(272.5)
Other comprehensive income (loss) before reclassifications	79	(52.3)	21.4	(34)
Amounts reclassified from Accumulated OCI	0	0	0	0
Net other comprehensive income (loss)	79	(52.3)	21.4	(34)
Ending balance	(190.4)	(306.5)	(190.4)	(306.5)
Cash Flow Hedges
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	4.9	6.5	5.7	7.3
Other comprehensive income (loss) before reclassifications	0	0	0	0
Amounts reclassified from Accumulated OCI	(0.4)	(0.4)	(1.2)	(1.2)
Net other comprehensive income (loss)	(0.4)	(0.4)	(1.2)	(1.2)
Ending balance	4.5	6.1	4.5	6.1
Defined Benefit Pension and Postretirement Plans
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	(240.3)	(263)	(243.4)	(263.1)
Other comprehensive income (loss) before reclassifications	0	0	0	0
Amounts reclassified from Accumulated OCI	1.5	0.1	4.6	0.2
Net other comprehensive income (loss)	1.5	0.1	4.6	0.2
Ending balance	$ (238.8)	$ (262.9)	$ (238.8)	$ (262.9)

Accumulated Other Comprehensi_4

Accumulated Other Comprehensive Income (Loss) - Reclassifications Out of Accumulated OCI (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 28, 2024	Sep. 30, 2023	Sep. 28, 2024	Sep. 30, 2023
Gains on cash flow hedges:
Interest expense	$ (12.5)	$ (12.4)	$ (37.3)	$ (37.4)
Other income (expense) - net	20.6	18	57.4	50
Income tax expense	(74.7)	(71.1)	(229.2)	(223.9)
Net earnings	257.5	249.1	804.7	773.3
Reclassification out of AOCI
Gains on cash flow hedges:
Net earnings	(1.1)	0.3	(3.4)	1
Cash Flow Hedges | Reclassification out of AOCI
Gains on cash flow hedges:
Interest expense	0.4	0.4	1.2	1.2
Income tax expense	0	0	0	0
Net earnings	0.4	0.4	1.2	1.2
Defined Benefit Pension and Postretirement Plans | Reclassification out of AOCI
Gains on cash flow hedges:
Other income (expense) - net	(2)	(0.1)	(6)	(0.2)
Income tax expense	0.5	0	1.4	0
Net earnings	$ (1.5)	$ (0.1)	$ (4.6)	$ (0.2)

Segments - Schedule of Net Sale

Segments - Schedule of Net Sales by Segment (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 28, 2024	Sep. 30, 2023	Sep. 28, 2024	Sep. 30, 2023
Segment Reporting Information [Line Items]
Total revenues	$ 1,247.4	$ 1,254.2	$ 3,809.2	$ 3,814.5
Interest expense	(12.5)	(12.4)	(37.3)	(37.4)
Other income (expense) – net	20.6	18	57.4	50
Earnings before income taxes	332.2	320.2	1,033.9	997.2
Operating Segments | Commercial & Industrial Group
Segment Reporting Information [Line Items]
Total revenues	365.7	366.4	1,097.6	1,094.4
Operating Segments | Snap-on Tools Group
Segment Reporting Information [Line Items]
Total revenues	500.5	515.4	1,482.6	1,575.5
Operating Segments | Repair Systems & Information Group
Segment Reporting Information [Line Items]
Total revenues	422.7	431.8	1,341.3	1,330.4
Operating Segments | Financial Services
Segment Reporting Information [Line Items]
Total revenues	100.4	94.9	300.5	280.9
Intersegment eliminations
Segment Reporting Information [Line Items]
Total revenues	(141.9)	(154.3)	(412.8)	(466.7)
Product and Services, Including Financial Services
Segment Reporting Information [Line Items]
Operating earnings	324.1	314.6	1,013.8	984.6
Product and Services, Including Financial Services | Operating Segments
Segment Reporting Information [Line Items]
Operating earnings	348.3	345.8	1,063	1,077.3
Product and Services, Including Financial Services | Corporate
Segment Reporting Information [Line Items]
Operating earnings	(24.2)	(31.2)	(49.2)	(92.7)
Total net sales
Segment Reporting Information [Line Items]
Total revenues	1,147	1,159.3	3,508.7	3,533.6
Operating earnings	252.4	245.2	803.6	782
Total net sales | Operating Segments
Segment Reporting Information [Line Items]
Total revenues	1,288.9	1,313.6	3,921.5	4,000.3
Total net sales | Operating Segments | Commercial & Industrial Group
Segment Reporting Information [Line Items]
Total revenues	365.7	366.4	1,097.6	1,094.4
Operating earnings	61	58.1	178.6	172
Total net sales | Operating Segments | Snap-on Tools Group
Segment Reporting Information [Line Items]
Total revenues	500.5	515.4	1,482.6	1,575.5
Operating earnings	108.3	113.4	340.4	382.8
Total net sales | Operating Segments | Repair Systems & Information Group
Segment Reporting Information [Line Items]
Total revenues	422.7	431.8	1,341.3	1,330.4
Operating earnings	107.3	104.9	333.8	319.9
Total net sales | Operating Segments | Financial Services
Segment Reporting Information [Line Items]
Total revenues	0	0	0	0
Total net sales | Intersegment eliminations
Segment Reporting Information [Line Items]
Total revenues	(141.9)	(154.3)	(412.8)	(466.7)
Total net sales | Intersegment eliminations | Commercial & Industrial Group
Segment Reporting Information [Line Items]
Total revenues	77	85.9	212.9	245.5
Total net sales | Intersegment eliminations | Snap-on Tools Group
Segment Reporting Information [Line Items]
Total revenues	0	0	0	0
Total net sales | Intersegment eliminations | Repair Systems & Information Group
Segment Reporting Information [Line Items]
Total revenues	64.9	68.4	199.9	221.2
Total net sales | Intersegment eliminations | Financial Services
Segment Reporting Information [Line Items]
Total revenues	0	0	0	0
Financial services revenue
Segment Reporting Information [Line Items]
Total revenues	100.4	94.9	300.5	280.9
Operating earnings	71.7	69.4	210.2	202.6
Financial services revenue | Financial Services
Segment Reporting Information [Line Items]
Total revenues	100.4	94.9	300.5	280.9
Financial services revenue | Operating Segments | Commercial & Industrial Group
Segment Reporting Information [Line Items]
Total revenues	0	0	0	0
Financial services revenue | Operating Segments | Snap-on Tools Group
Segment Reporting Information [Line Items]
Total revenues	0	0	0	0
Financial services revenue | Operating Segments | Repair Systems & Information Group
Segment Reporting Information [Line Items]
Total revenues	0	0	0	0
Financial services revenue | Operating Segments | Financial Services
Segment Reporting Information [Line Items]
Total revenues	100.4	94.9	300.5	280.9
Operating earnings	71.7	69.4	210.2	202.6
Financial services revenue | Intersegment eliminations
Segment Reporting Information [Line Items]
Total revenues	$ 0	$ 0	$ 0	$ 0

Segments - Schedule of Assets b

Segments - Schedule of Assets by Segment (Details) - USD ($) $ in Millions	Sep. 28, 2024	Dec. 30, 2023
Segment Reporting Information [Line Items]
Assets	$ 7,953.3	$ 7,544.9
Operating Segments
Segment Reporting Information [Line Items]
Assets	6,445.9	6,345.5
Operating Segments | Commercial & Industrial Group
Segment Reporting Information [Line Items]
Assets	1,293	1,293.7
Operating Segments | Snap-on Tools Group
Segment Reporting Information [Line Items]
Assets	986.2	941.8
Operating Segments | Repair Systems & Information Group
Segment Reporting Information [Line Items]
Assets	1,661.3	1,680
Operating Segments | Financial Services
Segment Reporting Information [Line Items]
Assets	2,505.4	2,430
Corporate
Segment Reporting Information [Line Items]
Assets	1,602.5	1,285
Elimination of intersegment receivables
Segment Reporting Information [Line Items]
Assets	$ (95.1)	$ (85.6)