Snap-on (SNA) 10-Q 23 Jul 15 2015 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jul. 04, 2015	Jul. 17, 2015
Document And Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jul. 4, 2015
Document Fiscal Year Focus	2,015
Document Fiscal Period Focus	Q2
Trading Symbol	SNA
Entity Registrant Name	SNAP-ON Inc
Entity Central Index Key	91,440
Current Fiscal Year End Date	--01-02
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		58,172,308

Condensed Consolidated Statemen

Condensed Consolidated Statements of Earnings (Unaudited) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jul. 04, 2015	Jun. 28, 2014	Jul. 04, 2015	Jun. 28, 2014
Income Statement [Abstract]
Net sales	$ 851.8	$ 826.5	$ 1,679.6	$ 1,614
Cost of goods sold	(432.8)	(426.1)	(850.5)	(834.9)
Gross profit	419	400.4	829.1	779.1
Operating expenses	(268.2)	(262.3)	(540.4)	(519.3)
Operating earnings before financial services	150.8	138.1	288.7	259.8
Financial services revenue	58.7	51.7	116.1	101.9
Financial services expenses	(17.3)	(16.9)	(34.4)	(32.7)
Operating earnings from financial services	41.4	34.8	81.7	69.2
Operating earnings	192.2	172.9	370.4	329
Interest expense	(12.9)	(12.7)	(25.9)	(26.4)
Other income (expense) - net	(0.7)	0.3	(1.4)	0.2
Earnings before income taxes and equity earnings	178.6	160.5	343.1	302.8
Income tax expense	(56.2)	(51.9)	(108)	(96.2)
Earnings before equity earnings	122.4	108.6	235.1	206.6
Equity earnings, net of tax	0.6	0.2	1.1	0.4
Net earnings	123	108.8	236.2	207
Net earnings attributable to noncontrolling interests	(3)	(2.7)	(5.7)	(5)
Net earnings attributable to Snap-on Incorporated	$ 120	$ 106.1	$ 230.5	$ 202
Net earnings per share attributable to Snap-on Incorporated:
Basic	$ 2.07	$ 1.83	$ 3.97	$ 3.48
Diluted	$ 2.03	$ 1.80	$ 3.90	$ 3.42
Weighted-average shares outstanding:
Basic	58,114,681	58,127,969	58,123,538	58,167,091
Effect of dilutive securities	991,763	870,507	982,338	870,775
Diluted	59,106,444	58,998,476	59,105,876	59,037,866
Dividends declared per common share	$ 0.53	$ 0.44	$ 1.06	$ 0.88

Condensed Consolidated Stateme3

Condensed Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Millions		3 Months Ended		6 Months Ended
		Jul. 04, 2015	Jun. 28, 2014	Jul. 04, 2015	Jun. 28, 2014
Comprehensive income (loss):
Net earnings		$ 123	$ 108.8	$ 236.2	$ 207
Other comprehensive income (loss):
Foreign currency translation	[1]	30.7	(3.2)	(65.6)	1.5
Unrealized cash flow hedges, net of tax:
Reclassification of cash flow hedges to net earnings		(0.1)	(0.1)	(0.2)	(0.2)
Defined benefit pension and postretirement plans:
Amortization of net unrecognized losses and prior service credits included in net periodic benefit cost		10.4	5.8	19.2	11
Income tax benefit		(3.8)	(2.1)	(7.2)	(4)
Net of tax		6.6	3.7	12	7
Total comprehensive income		160.2	109.2	182.4	215.3
Comprehensive income attributable to noncontrolling interests		(3)	(2.7)	(5.7)	(5)
Comprehensive income attributable to Snap-on Incorporated		$ 157.2	$ 106.5	$ 176.7	$ 210.3
[1]	There was no sale or liquidation of any foreign entity; therefore, there is no reclassification adjustment for any period presented.

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Unaudited) - USD ($) $ in Millions	Jul. 04, 2015	Jan. 03, 2015
ASSETS
Cash and cash equivalents	$ 124.6	$ 132.9
Trade and other accounts receivable - net	558	550.8
Finance receivables - net	421.7	402.4
Contract receivables - net	69.1	74.5
Inventories - net	499.2	475.5
Deferred income tax assets	96.7	101
Prepaid expenses and other assets	128.6	121.5
Total current assets	1,897.9	1,858.6
Property and equipment:
Land	20	18.3
Buildings and improvements	294.5	294
Machinery, equipment and computer software	766.1	750.8
Total property and equipment	1,080.6	1,063.1
Accumulated depreciation and amortization	(669.4)	(658.6)
Property and equipment - net	411.2	404.5
Deferred income tax assets	88.2	93.2
Long-term finance receivables - net	708.8	650.5
Long-term contract receivables - net	252.9	242
Goodwill	787.8	810.7
Other intangibles - net	198	203.3
Other assets	45.9	47.3
Total assets	4,390.7	4,310.1
LIABILITIES AND EQUITY
Notes payable	61	56.6
Accounts payable	166.1	145
Accrued benefits	45.1	53.8
Accrued compensation	76.6	99.2
Franchisee deposits	68.4	65.8
Other accrued liabilities	322.6	298.3
Total current liabilities	739.8	718.7
Long-term debt	861.4	862.7
Deferred income tax liabilities	160.4	159.2
Retiree health care benefits	40.3	42.5
Pension liabilities	184.6	217.9
Other long-term liabilities	88	83.8
Total liabilities	$ 2,074.5	$ 2,084.8
Commitments and contingencies (Note 14)
Equity
Preferred stock (authorized 15,000,000 shares of $1 par value; none outstanding)
Common stock (authorized 250,000,000 shares of $1 par value; issued 67,392,239 and 67,383,127 shares, respectively)	$ 67.4	$ 67.4
Additional paid-in capital	285.5	254.7
Retained earnings	2,805.5	2,637.2
Accumulated other comprehensive loss	(302)	(248.2)
Treasury stock at cost (9,289,031 and 9,269,680 shares, respectively)	(557.9)	(503.3)
Total shareholders' equity attributable to Snap-on Incorporated	2,298.5	2,207.8
Noncontrolling interests	17.7	17.5
Total equity	2,316.2	2,225.3
Total liabilities and equity	$ 4,390.7	$ 4,310.1

Condensed Consolidated Balance5

Condensed Consolidated Balance Sheets (Unaudited) (Parenthetical) - $ / shares	Jul. 04, 2015	Jan. 03, 2015
Statement of Financial Position [Abstract]
Preferred Stock, Shares Authorized	15,000,000	15,000,000
Preferred Stock, Shares Outstanding	0	0
Preferred Stock, Par Value	$ 1	$ 1
Common Stock, Shares Authorized	250,000,000	250,000,000
Common Stock, Par Value	$ 1	$ 1
Common Stock, Shares Issued	67,392,239	67,383,127
Treasury stock shares at cost	9,289,031	9,269,680

Condensed Consolidated Stateme6

Condensed Consolidated Statements of Equity (Unaudited) - USD ($) $ in Millions	Total	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	Accumulated Other Comprehensive Income (Loss) [Member]	Treasury Stock [Member]	Noncontrolling Interests [Member]
Balance at Dec. 28, 2013	$ 2,130.4	$ 67.4	$ 225.1	$ 2,324.1	$ (44.8)	$ (458.6)	$ 17.2
Net earnings	207			202			5
Other comprehensive income (loss)	8.3				8.3
Cash dividends	(51.2)			(51.2)
Dividend reinvestment plan and other	(5.4)			(0.6)			(4.8)
Stock compensation plans	36.6		9			27.6
Share repurchases	(62.5)					(62.5)
Tax benefit from certain stock options	9.6		9.6
Balance at Jun. 28, 2014	2,272.8	67.4	243.7	2,474.3	(36.5)	(493.5)	17.4
Balance at Jan. 03, 2015	2,225.3	67.4	254.7	2,637.2	(248.2)	(503.3)	17.5
Net earnings	236.2			230.5			5.7
Other comprehensive income (loss)	(53.8)				(53.8)
Cash dividends	(61.7)			(61.7)
Dividend reinvestment plan and other	(6)			(0.5)			(5.5)
Stock compensation plans	49.1		16.8			32.3
Share repurchases	(86.9)					(86.9)
Tax benefit from certain stock options	14		14
Balance at Jul. 04, 2015	$ 2,316.2	$ 67.4	$ 285.5	$ 2,805.5	$ (302)	$ (557.9)	$ 17.7

Condensed Consolidated Stateme7

Condensed Consolidated Statements of Equity (Unaudited) (Parenthetical) - $ / shares	6 Months Ended
	Jul. 04, 2015	Jun. 28, 2014
Cash dividends per share	$ 1.06	$ 0.88
Share repurchases, shares	580,000	550,000
Retained Earnings [Member]
Cash dividends per share	$ 1.06	$ 0.88
Treasury Stock [Member]
Share repurchases, shares	580,000	550,000

Condensed Consolidated Stateme8

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Millions	6 Months Ended
	Jul. 04, 2015	Jun. 28, 2014
Operating activities:
Net earnings	$ 236.2	$ 207
Adjustments to reconcile net earnings to net cash provided (used) by operating activities:
Depreciation	28.2	27
Amortization of other intangibles	12.4	12.3
Provision for losses on finance receivables	14.4	13.4
Provision for losses on non-finance receivables	7.9	6.6
Stock-based compensation expense	23.1	18.7
Excess tax benefits from stock-based compensation	(14)	(9.6)
Deferred income tax provision (benefit)	3.1	(2.8)
Loss on sale of assets	0.3	0.2
Changes in operating assets and liabilities, net of effects of acquisition:
Increase in trade and other accounts receivable	(26.8)	(36)
Increase in contract receivables	(9.7)	(13.9)
Increase in inventories	(35.8)	(28.4)
Increase in prepaid and other assets	(38.4)	(35.3)
Increase in accounts payable	27.8	18.4
Increase in accruals and other liabilities	9.7	35.1
Net cash provided by operating activities	238.4	212.7
Investing activities:
Additions to finance receivables	(416)	(370.6)
Collections of finance receivables	319.3	282.3
Capital expenditures	(45.8)	(41)
Acquisition of business		(41.6)
Disposal of property and equipment	0.4	0.5
Other	(2.8)	(0.2)
Net cash used by investing activities	(144.9)	(170.6)
Financing activities:
Repayment of long-term debt		(100)
Proceeds from short-term borrowings	1.6
Repayment of short-term borrowings	(1.6)
Net increase in other short-term borrowings	5.2	33.8
Purchases of treasury stock	(86.9)	(62.5)
Cash dividends paid	(61.7)	(51.2)
Proceeds from stock purchase and option plans	36.5	32.1
Excess tax benefits from stock-based compensation	14	9.6
Other	(7.3)	(6)
Net cash used by financing activities	(100.2)	(144.2)
Effect of exchange rate changes on cash and cash equivalents	(1.6)	0.3
Decrease in cash and cash equivalents	(8.3)	(101.8)
Cash and cash equivalents at beginning of year	132.9	217.6
Cash and cash equivalents at end of period	124.6	115.8
Supplemental cash flow disclosures:
Cash paid for interest	(25.4)	(27.8)
Net cash paid for income taxes	$ (66.4)	$ (87.9)

Summary of Accounting Policies

Summary of Accounting Policies	6 Months Ended
	Jul. 04, 2015
Accounting Policies [Abstract]
Summary of Accounting Policies	Note 1: 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 2014 Annual Report on Form 10-K for the fiscal year ended January 3, 2015 (“2014 year end”). Snap-on’s 2015 fiscal year ends on January 2, 2016, and will contain 52 weeks of operating results. Snap-on’s 2014 fiscal year contained 53 weeks of operating results; the additional week occurred in the fourth quarter. Snap-on’s 2015 fiscal second quarter ended on July 4, 2015; the 2014 fiscal second quarter ended on June 28, 2014. The company’s 2015 and 2014 fiscal second quarters each contained 13 weeks of operating results. Snap-on Snap-on 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 six month periods ended July 4, 2015, and June 28, 2014, 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 U.S. 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 further information on financial instruments.

Acquisition

Acquisition	6 Months Ended
	Jul. 04, 2015
Business Combinations [Abstract]
Acquisition	Note 2: Acquisition On May 28, 2014, Snap-on acquired substantially all of the assets of Pro-Cut International, Inc. (“Pro-Cut”) for a preliminary cash purchase price of $41.6 million; the final cash purchase price of $41.3 million, including post-closing adjustments, was concluded in the third quarter of 2014. Pro-Cut designs, manufactures and distributes on-car brake lathes, related equipment and accessories used in brake servicing by automotive repair facilities. For segment reporting purposes, the results of operations and assets of Pro-Cut have been included in the Repair Systems & Information Group since the date of acquisition. Pro forma financial information has not been presented as the net effects of the Pro-Cut

Receivables

Receivables	6 Months Ended
	Jul. 04, 2015
Receivables [Abstract]
Receivables	Note 3: Receivables Trade and Other Accounts Receivable Snap-on’s trade and other accounts receivable primarily arise from the sale of tools and diagnostic and equipment products to a broad range of industrial and commercial customers and to Snap-on’s The components of Snap-on’s trade and other accounts receivable as of July 4, 2015, and January 3, 2015, are as follows: (Amounts in millions) July 4, 2015 January 3, Trade and other accounts receivable $ 575.1 $ 567.0 Allowances for doubtful accounts (17.1) (16.2) Total trade and other accounts receivable – net $ 558.0 $ 550.8 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 and customer network and to Snap-on’s industrial and other customers; 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. Snap-on’s finance receivables are comprised of extended-term installment payment contracts to both technicians and independent shop owners (i.e., franchisees’ customers) to enable them to purchase tools and diagnostic and equipment products on an extended-term payment plan, generally with expected average payment terms of approximately three years. Contract receivables, with payment terms of up to 10 years, are comprised of extended-term installment payment contracts to a broad base of industrial and other customers worldwide, including shop owners, both independents and national chains, for their purchase of tools and diagnostic and equipment products. Contract receivables also include extended-term installment loans 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. Finance and contract receivables are generally secured by the underlying tools and/or diagnostic or equipment products financed and, for installment loans to franchisees, other franchisee assets. The components of Snap-on’s current finance and contract receivables as of July 4, 2015, and January 3, 2015, are as follows: (Amounts in millions) July 4, 2015 January 3, 2015 Finance receivables, net of unearned finance charges of $16.5 million and $15.6 million, respectively $ 434.3 $ 414.6 Contract receivables, net of unearned finance charges of $14.4 million and $13.9 million, respectively 70.3 75.5 Total 504.6 490.1 Allowances for doubtful accounts: Finance receivables (12.6) (12.2) Contract receivables (1.2) (1.0) Total (13.8) (13.2) Total current finance and contract receivables – net $ 490.8 $ 476.9 Finance receivables – net $ 421.7 $ 402.4 Contract receivables – net 69.1 74.5 Total current finance and contract receivables – net $ 490.8 $ 476.9 The components of Snap-on’s finance and contract receivables with payment terms beyond one year as of July 4, 2015, and January 3, 2015, are as follows: (Amounts in millions) July 4, 2015 January 3, Finance receivables, net of unearned finance charges of $10.7 million and $9.9 million, respectively $ 731.1 $ 671.0 Contract receivables, net of unearned finance charges of $20.4 million and $19.4 million, respectively 255.9 244.5 Total 987.0 915.5 Allowances for doubtful accounts: Finance receivables (22.3) (20.5) Contract receivables (3.0) (2.5) Total (25.3) (23.0) Total long-term finance and contract receivables – net $ 961.7 $ 892.5 Finance receivables – net $ 708.8 $ 650.5 Contract receivables – net 252.9 242.0 Total long-term finance and contract receivables – net $ 961.7 $ 892.5 Delinquency is the primary indicator of credit quality for finance and contract receivables. Receivable balances are considered delinquent when contractual payments become 30 days past due. 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. Finance receivables that are considered nonperforming include receivables that are on nonaccrual status and receivables that are generally more than 90 days past due. 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. Contract receivables that are considered nonperforming include receivables that are on nonaccrual status. 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. Finance and contract receivables are evaluated for impairment on a collective basis. A receivable is impaired when it is probable that all amounts related to the receivable will not be collected according to the contractual terms of the applicable agreement. Impaired receivables are covered by the company’s finance and contract allowances for doubtful accounts reserves and are charged-off against the reserves when appropriate. As of July 4, 2015, and January 3, 2015, there were $14.8 million and $15.5 million, respectively, of impaired finance receivables, and there were $1.6 million and $1.5 million, respectively, of impaired contract receivables. It is the general practice of Snap-on’s financial services business to not engage in contract or loan modifications. In limited instances, Snap-on’s financial services business may modify certain impaired receivables in troubled debt restructurings. The amount and number of restructured finance and contract receivables as of July 4, 2015, and January 3, 2015, 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 July 4, 2015, and January 3, 2015, is as follows: (Amounts in millions) 30-59 Days Past 60-90 Greater Total Past Total Not Total Greater July 4, 2015: Finance receivables $ 9.6 $ 6.0 $ 8.7 $ 24.3 $ 1,141.1 $ 1,165.4 $ 6.3 Contract receivables 1.1 0.9 1.2 3.2 323.0 326.2 0.2 January 3, 2015: Finance receivables $ 9.8 $ 6.7 $ 10.4 $ 26.9 $ 1,058.7 $ 1,085.6 $ 7.7 Contract receivables 0.9 0.7 1.1 2.7 317.3 320.0 0.1 The amount of performing and nonperforming finance and contract receivables based on payment activity as of July 4, 2015, and January 3, 2015, is as follows: July 4, 2015 January 3, 2015 (Amounts in millions) Finance Receivables Contract Receivables Finance Receivables Contract Receivables Performing $ 1,150.6 $ 324.6 $ 1,070.1 $ 318.5 Nonperforming 14.8 1.6 15.5 1.5 Total $ 1,165.4 $ 326.2 $ 1,085.6 $ 320.0 The amount of finance and contract receivables on nonaccrual status as of July 4, 2015, and January 3, 2015, is as follows: (Amounts in millions) July 4, 2015 January 3, Finance receivables $ 8.6 $ 7.9 Contract receivables 1.5 1.5 The following is a rollforward of the allowances for credit losses for finance and contract receivables for the three and six month periods ended July 4, 2015: Three Months Ended July 4, 2015 Six Months Ended July 4, 2015 (Amounts in millions) Finance Contract Finance Contract Allowances for doubtful accounts: Beginning of period $ 33.4 $ 3.9 $ 32.7 $ 3.5 Provision for bad debt expense 7.3 0.7 14.4 1.6 Charge-offs (7.3) (0.6) (15.1) (1.0) Recoveries 1.5 0.2 3.0 0.2 Currency translation – – (0.1) (0.1) End of period $ 34.9 $ 4.2 $ 34.9 $ 4.2 The following is a rollforward of the allowances for credit losses for finance and contract receivables for the three and six month periods ended June 28, 2014: Three Months Ended June 28, 2014 Six Months Ended June 28, 2014 (Amounts in millions) Finance Contract Finance Contract Allowances for doubtful accounts: Beginning of period $ 28.5 $ 3.6 $ 27.8 $ 3.3 Provision for bad debt expense 7.2 0.7 13.4 1.3 Charge-offs (6.7) (0.6) (13.5) (1.0) Recoveries 1.3 0.1 2.6 0.2 Currency translation 0.1 – 0.1 – End of period $ 30.4 $ 3.8 $ 30.4 $ 3.8

Inventories

Inventories	6 Months Ended
	Jul. 04, 2015
Inventory Disclosure [Abstract]
Inventories	Note 4: Inventories Inventories by major classification are as follows: (Amounts in millions) July 4, 2015 January 3, Finished goods $ 437.6 $ 415.3 Work in progress 45.7 45.3 Raw materials 88.9 87.5 Total FIFO value 572.2 548.1 Excess of current cost over LIFO cost (73.0) (72.6) Total inventories – net $ 499.2 $ 475.5 Inventories accounted for using the first-in, first-out (“FIFO”) method as of July 4, 2015, and January 3, 2015, approximated 59% and 58%, respectively, of total inventories. The company accounts for its non-U.S. inventory on the FIFO method. As of July 4, 2015, approximately 33% of the company’s U.S. inventory was accounted for using the FIFO method and 67% was accounted for using the last-in, first-out (“LIFO”) method. There were no LIFO inventory liquidations in the three and six month periods ended July 4, 2015, or June 28, 2014.

Goodwill and Other Intangible A

Goodwill and Other Intangible Assets	6 Months Ended
	Jul. 04, 2015
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Other Intangible Assets	Note 5: Goodwill and Other Intangible Assets The changes in the carrying amount of goodwill by segment for the six month period ended July 4, 2015, are as follows: (Amounts in millions) Commercial & Industrial Snap-on Tools Group Repair Systems & Information Group Total Balance as of January 3, 2015 $ 275.9 $ 12.5 $ 522.3 $ 810.7 Currency translation (20.5) – (2.4) (22.9) Balance as of July 4, 2015 $ 255.4 $ 12.5 $ 519.9 $ 787.8 Additional disclosures related to other intangible assets are as follows: July 4, 2015 January 3, 2015 (Amounts in millions) Gross Carrying Accumulated Gross Carrying Accumulated Amortized other intangible assets: Customer relationships $ 147.2 $ (75.8) $ 147.1 $ (71.2) Developed technology 19.2 (19.2) 19.2 (19.2) Internally developed software 149.8 (99.0) 142.2 (92.0) Patents 29.4 (20.5) 29.3 (20.6) Trademarks 2.5 (1.6) 2.5 (1.6) Other 7.6 (1.8) 7.6 (1.6) Total 355.7 (217.9) 347.9 (206.2) Non-amortized trademarks 60.2 – 61.6 – Total other intangible assets $ 415.9 $ (217.9) $ 409.5 $ (206.2) Snap-on completed its annual impairment testing of goodwill and other indefinite-lived intangible assets in the second quarter of 2015, the results of which did not result in any impairment. Significant and unanticipated changes in circumstances, such as declines in profitability and cash flow due to significant and long-term deterioration in macroeconomic, industry and market conditions, the loss of key customers, changes in technology or markets, significant changes in key personnel or litigation, a significant and sustained decrease in share price and/or other events, including effects from the sale or disposal of a reporting unit, could require a provision for impairment of goodwill and/or other intangible assets in a future period. As of July 4, 2015, the company had no accumulated impairment losses. The weighted-average amortization periods related to other intangible assets are as follows: In Years Customer relationships 15 Internally developed software 3 Patents 9 Trademarks 6 Other 39 Snap-on is amortizing its customer relationships on both an accelerated and straight-line basis over a 15 year weighted-average life; the remaining intangibles are amortized on a straight-line basis. The weighted-average amortization period for all amortizable intangibles on a combined basis is 11 years. The company’s customer relationships generally have contractual terms of three to five years and are typically renewed without significant cost to the company. The weighted-average 15 year life for customer relationships is based on the company’s historical renewal experience. Intangible asset renewal costs are expensed as incurred. The aggregate amortization expense was $6.2 million and $12.4 million for the respective three and six month periods ended July 4, 2015, and $6.1 million and $12.3 million for the respective three and six month periods ended June 28, 2014. Based on current levels of amortizable intangible assets and estimated weighted-average useful lives, estimated annual amortization expense is expected to be $24.7 million in 2015, $20.8 million in 2016, $17.7 million in 2017, $14.8 million in 2018, $13.8 million in 2019, and $12.2 million in 2020.

Exit and Disposal Activities

Exit and Disposal Activities	6 Months Ended
	Jul. 04, 2015
Restructuring and Related Activities [Abstract]
Exit and Disposal Activities	Note 6: Exit and Disposal Activities Snap-on did not record any costs for exit and disposal activities in the three and six month periods ended July 4, 2015; in the three and six month periods ended June 28, 2014, Snap-on recorded costs for exit and disposal activities for the Repair Systems & Information Group as follows: Three Months Ended Six Months Ended (Amounts in millions) June 28, 2014 June 28, 2014 Exit and disposal costs: Repair Systems & Information Group: Cost of goods sold $ 1.2 $ 3.2 Operating expenses 0.2 0.2 Total exit and disposal costs $ 1.4 $ 3.4 The $1.4 million and $3.4 million of costs incurred during the respective three and six month periods ended June 28, 2014, qualified for accrual treatment. Snap-on’s exit and disposal accrual activity for the first and second quarters of 2015 is as follows: Balance at January 3, 2015 First Quarter Balance at April 4, Second Quarter Balance at July 4, 2015 (Amounts in millions) Provision Usage Provision Usage Severance costs: Commercial & Industrial Group $ 0.8 $ – $ (0.3) $ 0.5 $ – $ (0.1) $ 0.4 Repair Systems & Information Group 5.7 – (0.4) 5.3 – (0.6) 4.7 Total $ 6.5 $ – $ (0.7) $ 5.8 $ – $ (0.7) $ 5.1 As of July 4, 2015, the company expects that approximately $1.8 million of the $5.1 million exit and disposal accrual will be utilized in the balance of 2015 and the remainder will extend into 2016 primarily for longer-term severance obligations. Snap-on expects to fund the remaining cash requirements of its exit and disposal activities with available cash on hand, cash flows from operations and borrowings under the company’s existing credit facilities. The estimated costs for the exit and disposal activities were based on management’s best business judgment under prevailing circumstances.

Income Taxes

Income Taxes	6 Months Ended
	Jul. 04, 2015
Income Tax Disclosure [Abstract]
Income Taxes	Note 7: Income Taxes Snap-on’s effective income tax rate on earnings attributable to Snap-on was 32.0% and 32.3% in the first six months of 2015 and 2014, respectively. The 2015 effective income tax rate includes tax benefits associated with distributions from certain non-U.S. subsidiaries, partially offset by a tax assessment in a foreign jurisdiction. 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 $0.9 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 $0.4 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	6 Months Ended
	Jul. 04, 2015
Debt Disclosure [Abstract]
Short-term and Long-term Debt	Note 8: Short-term and Long-term Debt Short-term and long-term debt as of July 4, 2015, and January 3, 2015, consisted of the following: (Amounts in millions) July 4, 2015 January 3, 2015 5.50% unsecured notes due 2017 $ 150.0 $ 150.0 4.25% unsecured notes due 2018 250.0 250.0 6.70% unsecured notes due 2019 200.0 200.0 6.125% unsecured notes due 2021 250.0 250.0 Other debt* 72.4 69.3 922.4 919.3 Less: notes payable (61.0) (56.6) Total long-term debt $ 861.4 $ 862.7 * Includes fair value adjustments related to interest rate swaps. Notes payable of $61.0 million as of July 4, 2015, included $35.0 million of commercial paper borrowings and $26.0 million of other notes. Notes payable of $56.6 million as of 2014 year end included $37.0 million of commercial paper borrowings and $19.6 million of other notes. There were no current maturities of long-term debt as of July 4, 2015, or January 3, 2015. Snap-on has a five-year, $700 million multi-currency revolving credit facility that terminates on September 27, 2018 (the “Credit Facility”); no amounts were outstanding under the Credit Facility as of July 4, 2015. Borrowings under the Credit Facility bear interest at varying rates based on Snap-on’s then-current, long-term debt ratings. 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 (consolidated debt net of certain cash adjustments) to the sum of such consolidated net debt plus total equity and less accumulated other comprehensive income or loss; or (ii) a ratio not greater than 3.50 to 1.00 of such consolidated net debt to earnings before interest, taxes, depreciation, amortization and certain other adjustments for the preceding four fiscal quarters then ended. As of July 4, 2015, the company’s actual ratios of 0.26 and 1.09, respectively, were both within the permitted ranges set forth in this financial covenant. Snap-on’s Credit Facility and other debt agreements also contain certain usual and customary borrowing, affirmative, negative and maintenance covenants. As of July 4, 2015, Snap-on was in compliance with all covenants of its Credit Facility and other debt agreements.

Financial Instruments

Financial Instruments	6 Months Ended
	Jul. 04, 2015
Investments, All Other Investments [Abstract]
Financial Instruments	Note 9: Financial Instruments Derivatives: 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. On the date a derivative contract is entered into, Snap-on The company is exposed to global market risks, including the effects of changes in foreign currency exchange rates, interest rates, and the company’s stock price, and therefore 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 At July 4, 2015, Snap-on had $140.9 million of net foreign currency forward buy contracts outstanding comprised of buy contracts including $82.2 million in euros, $29.2 million in Australian dollars, $21.4 million in Swedish kronor, $10.3 million in Singapore dollars, $7.0 million in Hong Kong dollars, $6.6 million in South Korean won, $5.4 million in Chinese yuan, $4.5 million in Mexican pesos, $2.8 million in Norwegian kroner, $2.4 million in British pounds, and $1.1 million in other currencies, and sell contracts comprised of $11.2 million in Japanese yen, $11.1 million in Canadian dollars, $2.5 million in New Zealand dollars, $2.0 million in Brazilian real, and $5.2 million in other currencies. At January 3, 2015, Snap-on had $140.4 million of net foreign currency forward buy contracts outstanding comprised of buy contracts including $81.5 million in euros, $34.8 million in Australian dollars, $22.1 million in Swedish kronor, $16.3 million in British pounds, $10.1 million in Singapore dollars, $5.7 million in South Korean won, $4.5 million in Mexican pesos, $3.6 million in Hong Kong dollars, and $0.5 million in other currencies, and sell contracts comprised of $16.8 million in Canadian dollars, $10.9 million in Japanese yen, $3.3 million in Danish kroner, and $7.7 million in other currencies. Interest Rate Risk Management: Snap-on enters 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 effective portion of the change in fair value of the derivative is recorded in “Long-term debt” on the accompanying Condensed Consolidated Balance Sheets, while any ineffective portion is recorded as an adjustment to “Interest expense” on the accompanying Condensed Consolidated Statements of Earnings. The notional amount of interest rate swaps outstanding and designated as fair value hedges was $100.0 million as of both July 4, 2015, and January 3, 2015. Snap-on enters into treasury lock agreements (“treasury locks”) from time to time to manage the potential change in interest rates in anticipation of issuing fixed rate debt. Treasury locks are accounted for as cash flow hedges. The effective differentials paid or received on treasury locks related to the anticipated issuance of fixed rate debt are recognized as adjustments to “Interest expense” on the accompanying Condensed Consolidated Statements of Earnings. There were no treasury locks outstanding as of July 4, 2015, or January 3, 2015, nor were any settled during the first six months of 2015 or 2014. Stock-based Deferred Compensation Risk Management: Fair Value Measurements: July 4, 2015 January 3, 2015 (Amounts in millions) Balance Sheet Presentation Asset Liability Asset Liability Derivatives designated as hedging instruments: Interest rate swaps Other assets $ 12.7 $ – $ 14.0 $ – Derivatives not designated as hedging instruments: Foreign currency forwards Prepaid expenses and other assets $ 5.1 $ – $ 6.6 $ – Foreign currency forwards Other accrued liabilities – 1.9 – 14.7 Equity forwards Prepaid expenses and other assets 20.8 – 15.4 – Total $ 25.9 $ 1.9 $ 22.0 $ 14.7 Total derivatives instruments $ 38.6 $ 1.9 $ 36.0 $ 14.7 As of July 4, 2015, and January 3, 2015, the fair value adjustment to long-term debt related to the interest rate swaps was $12.7 million and $14.0 million, respectively. Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between participants at the measurement date. Level 2 fair value measurements for derivative assets and liabilities are measured using quoted prices in active markets for similar assets and liabilities. Foreign currency forwards are valued based on exchange rates quoted by domestic and foreign banks for similar instruments. Interest rate swap values are based on the six-month LIBOR swap rate for similar instruments. Equity forwards are valued using a market approach based primarily on the company’s stock price at the reporting date. The company did not have any derivative assets or liabilities measured at Level 1 or Level 3, nor did it implement any changes in its valuation techniques as of and for the six month period ended July 4, 2015. The effect of derivative instruments designated as fair value hedges as included in the Condensed Consolidated Statements of Earnings is as follows: Effective Portion of Gain Recognized in Income Three months ended Six months ended (Amounts in millions) Statement of Earnings July 4, 2015 June 28, 2014 July 4, 2015 June 28, 2014 Derivatives designated as fair value hedges: Interest rate swaps Interest expense $ 1.0 $ 1.0 $ 2.0 $ 2.0 The effect of derivative instruments designated as cash flow hedges as included in Accumulated OCI on the Condensed Consolidated Balance Sheets and the Condensed Consolidated Statements of Earnings is as follows: Effective Portion of Gain Accumulated OCI Three months ended Statement of Effective Portion of Gain Three months ended (Amounts in millions) July 4, 2015 June 28, 2014 July 4, 2015 June 28, 2014 Derivatives designated as cash flow hedges: Treasury locks $ – $ – Interest expense $ 0.1 $ 0.1 Effective Portion of Gain Accumulated OCI Six months ended Statement of Effective Portion of Gain Six months ended (Amounts in millions) July 4, 2015 June 28, 2014 July 4, 2015 June 28, 2014 Derivatives designated as cash flow hedges: Treasury locks $ – $ – Interest expense $ 0.2 $ 0.2 The effects of derivative instruments not designated as hedging instruments as included in the Condensed Consolidated Statements of Earnings are as follows: Gain (Loss) Recognized in Income Statement of Earnings Three months ended Six months ended (Amounts in millions) July 4, 2015 June 28, 2014 July 4, 2015 June 28, 2014 Derivatives not designated as hedging instruments: Foreign currency forwards Other income (expense) – net $ 4.1 $ (3.0) $ (10.9) $ 1.0 Equity forwards Operating expenses 1.7 0.8 3.2 1.3 Snap-on’s foreign currency forwards are typically not designated as hedges for financial reporting purposes. The fair value changes of foreign currency forwards not designated as hedging instruments are reported in earnings as foreign exchange gain or loss in “Other income (expense) – net” on the accompanying Condensed Consolidated Statements of Earnings. The $4.1 million derivative gain recognized in the second quarter of 2015 was offset by transaction losses on net exposures of $4.8 million, resulting in a net foreign exchange loss of $0.7 million for the quarter. The $3.0 million derivative loss recognized in the second quarter of 2014 was offset by transaction gains on net exposures of $3.1 million, resulting in a net foreign exchange gain of $0.1 million for the quarter. The $10.9 million derivative loss recognized in the first six months of 2015 was offset by transaction gains on net exposures of $9.4 million, resulting in a 2015 year-to-date net foreign exchange loss of $1.5 million. The $1.0 million derivative gain recognized in the first six months of 2014 was offset by transaction losses on net exposures of $1.1 million, resulting in a 2014 year-to-date net foreign exchange loss of $0.1 million. The resulting net foreign exchange gains and losses are included in “Other income (expense) – net” on the accompanying Condensed Consolidated Statements of Earnings. See Note 15 for additional information on “Other income (expense) – net.” Snap-on’s equity forwards are not designated as hedges for financial reporting purposes. Fair value changes of both the equity forwards and related stock-based (mark-to-market) deferred compensation liabilities are reported in “Operating expenses” on the accompanying Condensed Consolidated Statements of Earnings. The $1.7 million derivative gain recognized in the second quarter of 2015 was offset by $1.7 million of mark-to-market deferred compensation expense. The $0.8 million derivative gain recognized in the second quarter of 2014 was offset by $0.9 million of mark-to-market deferred compensation expense. The $3.2 million derivative gain recognized in the first six months of 2015 was offset by $3.1 million of mark-to-market deferred compensation expense. The $1.3 million derivative gain recognized in the first six months of 2014 was offset by $1.4 million of mark-to-market deferred compensation expense. As of July 4, 2015, the maximum maturity date of any fair value hedge was six years. During the next 12 months, Snap-on See the accompanying Condensed Consolidated Statements of Comprehensive Income for additional information on changes in comprehensive income. Counterparty Risk: Fair Value of Financial Instruments: July 4, 2015 January 3, 2015 (Amounts in millions) Carrying Value Fair Value Carrying Value Fair Value Finance receivables – net $ 1,130.5 $ 1,290.2 $ 1,052.9 $ 1,198.4 Contract receivables – net 322.0 355.2 316.5 348.2 Long-term debt and notes payable 922.4 1,023.9 919.3 1,031.3 The following methods and assumptions were 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 was 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 adjustments related to fair value hedges. 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 cash equivalents, 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	6 Months Ended
	Jul. 04, 2015
Compensation and Retirement Disclosure [Abstract]
Pension Plans	Note 10: Pension Plans Snap-on’s net periodic pension cost included the following components: Three Months Ended Six Months Ended (Amounts in millions) July 4, 2015 June 28, 2014 July 4, 2015 June 28, 2014 Service cost $ 4.9 $ 4.2 $ 10.1 $ 9.0 Interest cost 13.6 14.4 26.8 28.7 Expected return on plan assets (20.3) (18.1) (39.7) (36.3) Amortization of unrecognized loss 10.5 6.0 19.4 11.4 Amortization of prior service credit (0.2) (0.2) (0.4) (0.4) Net periodic pension cost $ 8.5 $ 6.3 $ 16.2 $ 12.4 Snap-on Snap-on

Postretirement Health Care Plan

Postretirement Health Care Plans	6 Months Ended
	Jul. 04, 2015
Postemployment Benefits [Abstract]
Postretirement Health Care Plans	Note 11: Postretirement Health Care Plans Snap-on’s net periodic postretirement health care cost included the following components: Three Months Ended Six Months Ended (Amounts in millions) July 4, 2015 June 28, 2014 July 4, 2015 June 28, 2014 Interest cost $ 0.6 $ 0.7 $ 1.1 $ 1.3 Expected return on plan assets (0.3) (0.3) (0.5) (0.6) Amortization of unrecognized loss 0.1 – 0.2 – Net periodic postretirement health care cost $ 0.4 $ 0.4 $ 0.8 $ 0.7

Stock-based Compensation and Ot

Stock-based Compensation and Other Stock Plans	6 Months Ended
	Jul. 04, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Stock-based Compensation and Other Stock Plans	Note 12: 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 awards, stock appreciation rights (“SARs”) and restricted stock awards (which may be designated as “restricted stock units” or “RSUs”). No further grants are being made under the 2001 Incentive Stock and Awards Plan (the “2001 Plan”), although outstanding awards under the 2001 Plan will continue until exercised, forfeited or expired. As of July 4, 2015, the 2011 Plan had 4,986,665 shares available for future grants. The company uses treasury stock to deliver shares under both the 2001 and 2011 Plans. Net stock-based compensation expense was $11.6 million and $23.1 million for the respective three and six month periods ended July 4, 2015, and $10.1 million and $18.7 million for the respective three and six month periods ended June 28, 2014. Cash received from stock purchase and option plan exercises during the three and six month periods ended July 4, 2015, totaled $22.0 million and $36.5 million, respectively. Cash received from stock purchase and option plan exercises during the three and six month periods ended June 28, 2014, totaled $19.3 million and $32.1 million, respectively. The tax benefit realized from both the exercise and vesting of share-based payment arrangements was $4.2 million and $19.3 million for the respective three and six month periods ended July 4, 2015, and $3.4 million and $15.4 million for the respective three and six month periods ended June 28, 2014. 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 ten 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 behaviors for different participating groups to estimate the period of time that 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 option. The expected dividend yield is based on the company’s historical dividend payments. The risk-free interest rate is based on the U.S. treasury yield curve on the grant date for the expected term of the option. The following weighted-average assumptions were used in calculating the fair value of stock options granted during the six month period ended July 4, 2015, and the three and six month periods ended June 28, 2014, using the Black-Scholes valuation model; there were no stock options granted during the three month period ended July 4, 2015: Three Months Ended Six Months Ended July 4, 2015 June 28, 2014 July 4, 2015 June 28, 2014 Expected term of option (in years) N/A 3.47 4.76 4.52 Expected volatility factor N/A 24.54% 24.13% 26.76% Expected dividend yield N/A 2.28% 2.04% 2.40% Risk-free interest rate N/A 0.89% 1.38% 1.30% A summary of stock option activity as of and for the six month period ended July 4, 2015, is presented below: Shares (in thousands) Exercise Remaining (in years) Aggregate (in millions) Outstanding at January 3, 2015 2,630 $ 71.13 Granted 634 144.69 Exercised (351) 61.50 Forfeited or expired (18) 113.09 Outstanding at July 4, 2015 2,895 88.15 7.2 $ 210.3 Exercisable at July 4, 2015 1,661 62.63 5.8 163.0 * Weighted-average The weighted-average grant date fair value of options granted during the six month periods ended July 4, 2015, and June 28, 2014, was $25.65 and $20.19, respectively. The intrinsic value of options exercised was $10.9 million and $30.2 million during the respective three and six month periods ended July 4, 2015, and $7.0 million and $19.4 million during the respective three and six month periods ended June 28, 2014. The fair value of stock options vested was $9.9 million and $9.5 million during the respective six month periods ended July 4, 2015, and June 28, 2014. As of July 4, 2015, there was $22.8 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 2.0 years. Performance Awards Performance awards, which are granted as performance share units and performance-based RSUs, 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 performance awards 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 a certain level, the recipient may earn additional shares of stock, not to exceed 100% of the number of performance awards initially granted. The performance share units have a three-year performance period based on the results of the consolidated financial metrics of the company. The performance-based RSUs have a one-year performance period based on the results of the consolidated financial metrics of the company followed by a two-year cliff vesting schedule, assuming continued employment. The fair value of performance awards is calculated using the market value of a share of Snap-on’s common stock on the date of grant. The weighted-average grant date fair value of performance awards granted during the six month periods ended July 4, 2015, and June 28, 2014, was $139.06 and $102.55, respectively. Performance share units of 130,764 shares and 146,313 shares were paid out during the respective six month periods ended July 4, 2015, and June 28, 2014. Earned performance share units 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”). Based on the company’s 2014 performance, 78,585 RSUs granted in 2014 were earned; assuming continued employment, these RSUs will vest at the end of fiscal 2016. Based on the company’s 2013 performance, 84,413 RSUs granted in 2013 were earned; assuming continued employment, these RSUs will vest at the end of fiscal 2015. Based on the company’s 2012 performance, 95,047 RSUs granted in 2012 were earned; these RSUs vested as of fiscal 2014 year end and were paid out shortly thereafter. Changes to the company’s non-vested performance awards during the six month period ended July 4, 2015, are as follows: Shares (in thousands) Fair Value Share* Non-vested performance awards at January 3, 2015 327 $ 91.92 Granted 128 139.06 Vested (2) 89.35 Cancellations and other (9) 89.04 Non-vested performance awards at July 4, 2015 444 105.48 * Weighted-average As of July 4, 2015, there was $23.9 million of unrecognized compensation cost related to non-vested performance awards that is expected to be recognized as a charge to earnings over a weighted-average period of 1.9 years. Stock Appreciation Rights (“SARs”) The company also issues stock-settled and cash-settled SARs to certain key non-U.S. employees. SARs have a contractual term of ten 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 in the value of Snap-on’s common stock 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 on the date of exercise over the grant price. Cash-settled SARs have no effect on dilutive shares or shares outstanding as any appreciation in the value 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 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 company’s historical dividend payments. 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 six month period ended July 4, 2015, and the three and six month periods ended June 28, 2014, using the Black-Scholes valuation model; there were no stock-settled SARs granted during the three month period ended July 4, 2015: Three Months Ended Six Months Ended July 4, 2015 June 28, 2014 July 4, 2015 June 28, 2014 Expected term of stock-settled SARs (in years) N/A 3.47 4.72 4.49 Expected volatility factor N/A 24.54% 23.67% 25.64% Expected dividend yield N/A 2.28% 2.04% 2.40% Risk-free interest rate N/A 0.89% 1.50% 1.50% Changes to the company’s stock-settled SARs during the six month period ended July 4, 2015, are as follows: Stock-settled (in thousands) Exercise Remaining (in years) Aggregate (in millions) Outstanding at January 3, 2015 223 $ 94.90 Granted 112 144.69 Exercised (12) 87.49 Forfeited or expired (19) 92.85 Outstanding at July 4, 2015 304 113.64 8.7 $ 14.3 Exercisable at July 4, 2015 77 89.84 8.0 5.4 * Weighted-average The weighted-average grant date fair value of stock-settled SARs granted during the six month periods ended July 4, 2015, and June 28, 2014, was $25.36 and $19.55, respectively. The intrinsic value of stock-settled SARs exercised was $0.4 million and $0.7 million during the respective three and six month periods ended July 4, 2015, and zero and $0.1 million during the respective three and six month periods ended June 28, 2014. The fair value of stock-settled SARs vested during the six month periods ended July 4, 2015, and June 28, 2014, was $1.4 million and $0.6 million, respectively. As of July 4, 2015, there was $4.1 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 1.9 years. The following weighted-average assumptions were used in calculating the fair value of cash-settled SARs granted during the six month periods ended July 4, 2015, and June 28, 2014, using the Black-Scholes valuation model; no cash-settled SARs were granted during the three month periods ended July 4, 2015, or June 28, 2014: Six Months Ended July 4, 2015 June 28, 2014 Expected term of cash-settled SARs (in years) 3.62 4.00 Expected volatility factor 23.08% 24.15% Expected dividend yield 1.85% 2.29% Risk-free interest rate 1.01% 1.64% The intrinsic value of cash-settled SARs exercised was $6.6 million and $10.0 million during the respective three and six month periods ended July 4, 2015, and $0.7 million and $4.0 million during the respective three and six month periods ended June 28, 2014. The fair value of cash-settled SARs vested during the six month periods ended July 4, 2015, and June 28, 2014, was $4.2 million and $4.5 million, respectively. Changes to the company’s non-vested cash-settled SARs during the six month period ended July 4, 2015, are as follows: Cash-settled (in thousands) Fair Value Non-vested cash-settled SARs at January 3, 2015 47 $ 68.35 Granted 4 31.02 Vested (44) 95.98 Non-vested cash-settled SARs at July 4, 2015 7 44.92 * Weighted-average As of July 4, 2015, there was $0.3 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 1.9 years. Restricted Stock Awards – Non-employee Directors The company awarded 8,640 shares and 10,398 shares of restricted stock to non-employee directors in 2015 and 2014, respectively. 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 for the restricted stock 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 price of the stock on the beginning date (May 15) or ending date (the following May 14) of each plan year. For the six months ended July 4, 2015, and June 28, 2014, issuances under this plan totaled 57,324 shares and 56,582 shares, respectively. As of July 4, 2015, shares reserved for issuance under this plan totaled 807,719 shares and Snap-on held participant contributions of approximately $0.5 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 $1.1 million and $2.1 million for the three and six month periods ended July 4, 2015, respectively, and $0.5 million and $1.0 million for the three and six month periods ended June 28, 2014, respectively. 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 price of the stock on the beginning date (May 15) or ending date (the following May 14) of each plan year. For the six months ended July 4, 2015, and June 28, 2014, issuances under this plan totaled 74,001 shares and 74,502 shares, respectively. As of July 4, 2015, shares reserved for issuance under this plan totaled 156,336 shares and Snap-on held participant contributions of approximately $0.6 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. Expense for plan participants was $1.0 million and $2.2 million for the three and six month periods ended July 4, 2015, respectively, and $0.5 million and $0.8 million for the three and six month periods ended June 28, 2014, respectively.

Earnings Per Share

Earnings Per Share	6 Months Ended
	Jul. 04, 2015
Earnings Per Share [Abstract]
Earnings Per Share	Note 13: 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 Six Months Ended July 4, 2015 June 28, 2014 July 4, 2015 June 28, 2014 Weighted-average common shares outstanding 58,114,681 58,127,969 58,123,538 58,167,091 Effect of dilutive securities 991,763 870,507 982,338 870,775 Weighted-average common shares outstanding, assuming dilution 59,106,444 58,998,476 59,105,876 59,037,866 The dilutive effect of the potential exercise of outstanding options and stock-settled SARs to purchase common shares is calculated using the treasury stock method. As of both July 4, 2015, and June 28, 2014, there were no outstanding options or stock-settled SARs that were anti-dilutive. Performance-based equity awards do not affect the diluted earnings per share calculation until it is determined that the applicable performance metrics have been met.

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jul. 04, 2015
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Note 14: Commitments and Contingencies Snap-on Snap-on Three Months Ended Six Months Ended (Amounts in millions) July 4, 2015 June 28, 2014 July 4, 2015 June 28, 2014 Warranty reserve: Beginning of period $ 17.1 $ 16.7 $ 17.3 $ 17.0 Additions 3.9 4.0 7.6 6.9 Usage (3.0) (3.0) (6.9) (6.2) End of period $ 18.0 $ 17.7 $ 18.0 $ 17.7 Snap-on is involved in various legal matters that are being litigated and/or settled in the ordinary course of business. Although it is not possible to predict the outcome of these legal matters, management believes that the results of these legal matters will not have a material impact on Snap-on’s consolidated financial position, results of operations or cash flows.

Other Income (Expense) - Net

Other Income (Expense) - Net	6 Months Ended
	Jul. 04, 2015
Other Income and Expenses [Abstract]
Other Income (Expense) - Net	Note 15: Other Income (Expense) – Net “Other income (expense) – net” on the accompanying Condensed Consolidated Statements of Earnings consists of the following: Three Months Ended Six Months Ended (Amounts in millions) July 4, June 28, July 4, June 28, Interest income $ 0.1 $ 0.1 $ 0.2 $ 0.2 Net foreign exchange gain (loss) (0.7) 0.1 (1.5) (0.1) Other (0.1) 0.1 (0.1) 0.1 Total other income (expense) – net $ (0.7) $ 0.3 $ (1.4) $ 0.2

Accumulated Other Comprehensive

Accumulated Other Comprehensive Income (Loss)	6 Months Ended
	Jul. 04, 2015
Equity [Abstract]
Accumulated Other Comprehensive Income (Loss)	Note 16: Accumulated Other Comprehensive Income (Loss) The following is a summary of net changes in Accumulated OCI by component and net of tax for the second quarter of fiscal 2015: (Amounts in millions) Foreign Cash Flow Defined Pension and Total Balance as of April 4, 2015 $ (104.0) $ 0.9 $ (236.1) $ (339.2) Other comprehensive income before reclassifications 30.7 – – 30.7 Amounts reclassified from Accumulated OCI – (0.1) 6.6 6.5 Net other comprehensive income (loss) 30.7 (0.1) 6.6 37.2 Balance as of July 4, 2015 $ (73.3) $ 0.8 $ (229.5) $ (302.0) The following is a summary of net changes in Accumulated OCI by component and net of tax for the first six months of fiscal 2015: (Amounts in millions) Foreign Cash Flow Defined Pension and Total Balance as of January 3, 2015 $ (7.7) $ 1.0 $ (241.5) $ (248.2) Other comprehensive loss before reclassifications (65.6) – – (65.6) Amounts reclassified from Accumulated OCI – (0.2) 12.0 11.8 Net other comprehensive income (loss) (65.6) (0.2) 12.0 (53.8) Balance as of July 4, 2015 $ (73.3) $ 0.8 $ (229.5) $ (302.0) The following is a summary of net changes in Accumulated OCI by component and net of tax for the second quarter of fiscal 2014: (Amounts in millions) Foreign Cash Flow Defined Pension and Total Balance as of March 29, 2014 $ 125.8 $ 1.2 $ (163.9) $ (36.9) Other comprehensive income before reclassifications (3.2) – – (3.2) Amounts reclassified from Accumulated OCI – (0.1) 3.7 3.6 Net other comprehensive income (loss) (3.2) (0.1) 3.7 0.4 Balance as of June 28, 2014 $ 122.6 $ 1.1 $ (160.2) $ (36.5) The following is a summary of net changes in Accumulated OCI by component and net of tax for the first six months of fiscal 2014: (Amounts in millions) Foreign Cash Flow Defined Pension and Total Balance as of December 28, 2013 $ 121.1 $ 1.3 $ (167.2) $ (44.8) Other comprehensive income before reclassifications 1.5 – – 1.5 Amounts reclassified from Accumulated OCI – (0.2) 7.0 6.8 Net other comprehensive income (loss) 1.5 (0.2) 7.0 8.3 Balance as of June 28, 2014 $ 122.6 $ 1.1 $ (160.2) $ (36.5) The reclassifications out of Accumulated OCI for the three and six month periods ended July 4, 2015, and June 28, 2014, are as follows: Amount Reclassified from Accumulated OCI Three Months Ended Six Months Ended Details about Accumulated OCI July 4, 2015 June 28, 2014 July 4, 2015 June 28, 2014 Statement of Earnings (Amounts in millions) Gains on cash flow hedges: Treasury locks $ 0.1 $ 0.1 $ 0.2 $ 0.2 Interest expense Income tax expense – – – – Income tax expense Net of tax 0.1 0.1 0.2 0.2 Amortization of net unrecognized losses and prior service credits (10.4) (5.8) (19.2) (11.0) See footnote below* Income tax benefit 3.8 2.1 7.2 4.0 Income tax expense Net of tax (6.6) (3.7) (12.0) (7.0) Total reclassifications for the period, net of tax $ (6.5) $ (3.6) $ (11.8) $ (6.8) * 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 further information.

Segments

Segments	6 Months Ended
	Jul. 04, 2015
Segment Reporting [Abstract]
Segments	Note 17: 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, 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 worldwide 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 original equipment manufacturer (“OEM”) dealership service and repair shops (“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, including both external and intersegment net sales, and segment operating earnings. Snap-on accounts for intersegment 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. All significant intersegment amounts are eliminated to arrive at Snap-on’s consolidated financial results. Financial data by segment was as follows: Three Months Ended Six Months Ended (Amounts in millions) July 4, 2015 June 28, 2014 July 4, 2015 June 28, 2014 Net sales: Commercial & Industrial Group $ 295.8 $ 287.2 $ 593.3 $ 577.8 Snap-on Tools Group 398.7 369.1 776.9 712.7 Repair Systems & Information Group 277.4 278.5 549.7 541.2 Segment net sales 971.9 934.8 1,919.9 1,831.7 Intersegment eliminations (120.1) (108.3) (240.3) (217.7) Total net sales $ 851.8 $ 826.5 $ 1,679.6 $ 1,614.0 Financial Services revenue 58.7 51.7 116.1 101.9 Total revenues $ 910.5 $ 878.2 $ 1,795.7 $ 1,715.9 Operating earnings: Commercial & Industrial Group $ 42.2 $ 38.2 $ 86.2 $ 77.3 Snap-on 68.0 60.5 127.8 109.7 Repair Systems & Information Group 67.7 64.6 131.6 122.7 Financial Services 41.4 34.8 81.7 69.2 Segment operating earnings 219.3 198.1 427.3 378.9 Corporate (27.1) (25.2) (56.9) (49.9) Operating earnings $ 192.2 $ 172.9 $ 370.4 $ 329.0 Interest expense (12.9) (12.7) (25.9) (26.4) Other income (expense) – net (0.7) 0.3 (1.4) 0.2 Earnings before income taxes and equity earnings $ 178.6 $ 160.5 $ 343.1 $ 302.8 (Amounts in millions) July 4, 2015 January 3, 2015 Assets: Commercial & Industrial Group $ 931.6 $ 939.7 Snap-on Tools Group 637.3 600.1 Repair Systems & Information Group 1,037.6 1,036.8 Financial Services 1,452.6 1,368.3 Total assets from reportable segments $ 4,059.1 $ 3,944.9 Corporate 378.8 401.7 Elimination of intersegment receivables (47.2) (36.5) Total assets $ 4,390.7 $ 4,310.1

Summary of Accounting Policies

Summary of Accounting Policies (Policies)	6 Months Ended
	Jul. 04, 2015
Accounting Policies [Abstract]
Principles of consolidation and presentation	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 2014 Annual Report on Form 10-K for the fiscal year ended January 3, 2015 (“2014 year end”). Snap-on’s 2015 fiscal year ends on January 2, 2016, and will contain 52 weeks of operating results. Snap-on’s 2014 fiscal year contained 53 weeks of operating results; the additional week occurred in the fourth quarter. Snap-on’s 2015 fiscal second quarter ended on July 4, 2015; the 2014 fiscal second quarter ended on June 28, 2014. The company’s 2015 and 2014 fiscal second quarters each contained 13 weeks of operating results. Snap-on Snap-on 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 six month periods ended July 4, 2015, and June 28, 2014, 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	Use of Estimates The preparation of financial statements in conformity with U.S. 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	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 further information on financial instruments.

Receivables (Tables)

Receivables (Tables)	6 Months Ended
	Jul. 04, 2015
Receivables [Abstract]
Components of Trade and Other Accounts Receivable	The components of Snap-on’s trade and other accounts receivable as of July 4, 2015, and January 3, 2015, are as follows: (Amounts in millions) July 4, 2015 January 3, Trade and other accounts receivable $ 575.1 $ 567.0 Allowances for doubtful accounts (17.1) (16.2) Total trade and other accounts receivable – net $ 558.0 $ 550.8
Components of Current Finance and Contract Receivables	The components of Snap-on’s current finance and contract receivables as of July 4, 2015, and January 3, 2015, are as follows: (Amounts in millions) July 4, 2015 January 3, 2015 Finance receivables, net of unearned finance charges of $16.5 million and $15.6 million, respectively $ 434.3 $ 414.6 Contract receivables, net of unearned finance charges of $14.4 million and $13.9 million, respectively 70.3 75.5 Total 504.6 490.1 Allowances for doubtful accounts: Finance receivables (12.6) (12.2) Contract receivables (1.2) (1.0) Total (13.8) (13.2) Total current finance and contract receivables – net $ 490.8 $ 476.9 Finance receivables – net $ 421.7 $ 402.4 Contract receivables – net 69.1 74.5 Total current finance and contract receivables – net $ 490.8 $ 476.9
Components of Finance and Contract Receivables Beyond One Year	The components of Snap-on’s finance and contract receivables with payment terms beyond one year as of July 4, 2015, and January 3, 2015, are as follows: (Amounts in millions) July 4, 2015 January 3, Finance receivables, net of unearned finance charges of $10.7 million and $9.9 million, respectively $ 731.1 $ 671.0 Contract receivables, net of unearned finance charges of $20.4 million and $19.4 million, respectively 255.9 244.5 Total 987.0 915.5 Allowances for doubtful accounts: Finance receivables (22.3) (20.5) Contract receivables (3.0) (2.5) Total (25.3) (23.0) Total long-term finance and contract receivables – net $ 961.7 $ 892.5 Finance receivables – net $ 708.8 $ 650.5 Contract receivables – net 252.9 242.0 Total long-term finance and contract receivables – net $ 961.7 $ 892.5
Aging of Finance and Contract Receivables	The aging of finance and contract receivables as of July 4, 2015, and January 3, 2015, is as follows: (Amounts in millions) 30-59 Days Past 60-90 Greater Total Past Total Not Total Greater July 4, 2015: Finance receivables $ 9.6 $ 6.0 $ 8.7 $ 24.3 $ 1,141.1 $ 1,165.4 $ 6.3 Contract receivables 1.1 0.9 1.2 3.2 323.0 326.2 0.2 January 3, 2015: Finance receivables $ 9.8 $ 6.7 $ 10.4 $ 26.9 $ 1,058.7 $ 1,085.6 $ 7.7 Contract receivables 0.9 0.7 1.1 2.7 317.3 320.0 0.1
Schedule of Performing and Nonperforming Finance and Contract Receivables	The amount of performing and nonperforming finance and contract receivables based on payment activity as of July 4, 2015, and January 3, 2015, is as follows: July 4, 2015 January 3, 2015 (Amounts in millions) Finance Receivables Contract Receivables Finance Receivables Contract Receivables Performing $ 1,150.6 $ 324.6 $ 1,070.1 $ 318.5 Nonperforming 14.8 1.6 15.5 1.5 Total $ 1,165.4 $ 326.2 $ 1,085.6 $ 320.0
Schedule of Finance and Contract Receivables on Nonaccrual Status	The amount of finance and contract receivables on nonaccrual status as of July 4, 2015, and January 3, 2015, is as follows: (Amounts in millions) July 4, 2015 January 3, Finance receivables $ 8.6 $ 7.9 Contract receivables 1.5 1.5
Rollforward of Allowances for Credit Losses for Finance and Contract Receivables	The following is a rollforward of the allowances for credit losses for finance and contract receivables for the three and six month periods ended July 4, 2015: Three Months Ended July 4, 2015 Six Months Ended July 4, 2015 (Amounts in millions) Finance Contract Finance Contract Allowances for doubtful accounts: Beginning of period $ 33.4 $ 3.9 $ 32.7 $ 3.5 Provision for bad debt expense 7.3 0.7 14.4 1.6 Charge-offs (7.3) (0.6) (15.1) (1.0) Recoveries 1.5 0.2 3.0 0.2 Currency translation – – (0.1) (0.1) End of period $ 34.9 $ 4.2 $ 34.9 $ 4.2 The following is a rollforward of the allowances for credit losses for finance and contract receivables for the three and six month periods ended June 28, 2014: Three Months Ended June 28, 2014 Six Months Ended June 28, 2014 (Amounts in millions) Finance Contract Finance Contract Allowances for doubtful accounts: Beginning of period $ 28.5 $ 3.6 $ 27.8 $ 3.3 Provision for bad debt expense 7.2 0.7 13.4 1.3 Charge-offs (6.7) (0.6) (13.5) (1.0) Recoveries 1.3 0.1 2.6 0.2 Currency translation 0.1 – 0.1 – End of period $ 30.4 $ 3.8 $ 30.4 $ 3.8

Inventories (Tables)

Inventories (Tables)	6 Months Ended
	Jul. 04, 2015
Inventory Disclosure [Abstract]
Inventories by Major Classification	Inventories by major classification are as follows: (Amounts in millions) July 4, 2015 January 3, Finished goods $ 437.6 $ 415.3 Work in progress 45.7 45.3 Raw materials 88.9 87.5 Total FIFO value 572.2 548.1 Excess of current cost over LIFO cost (73.0) (72.6) Total inventories – net $ 499.2 $ 475.5

Goodwill and Other Intangible29

Goodwill and Other Intangible Assets (Tables)	6 Months Ended
	Jul. 04, 2015
Goodwill and Intangible Assets Disclosure [Abstract]
Changes in Carrying Amount of Goodwill by Segment	The changes in the carrying amount of goodwill by segment for the six month period ended July 4, 2015, are as follows: (Amounts in millions) Commercial & Industrial Snap-on Tools Group Repair Systems & Information Group Total Balance as of January 3, 2015 $ 275.9 $ 12.5 $ 522.3 $ 810.7 Currency translation (20.5) – (2.4) (22.9) Balance as of July 4, 2015 $ 255.4 $ 12.5 $ 519.9 $ 787.8
Other Intangible Assets by Major Class	Additional disclosures related to other intangible assets are as follows: July 4, 2015 January 3, 2015 (Amounts in millions) Gross Carrying Accumulated Gross Carrying Accumulated Amortized other intangible assets: Customer relationships $ 147.2 $ (75.8) $ 147.1 $ (71.2) Developed technology 19.2 (19.2) 19.2 (19.2) Internally developed software 149.8 (99.0) 142.2 (92.0) Patents 29.4 (20.5) 29.3 (20.6) Trademarks 2.5 (1.6) 2.5 (1.6) Other 7.6 (1.8) 7.6 (1.6) Total 355.7 (217.9) 347.9 (206.2) Non-amortized trademarks 60.2 – 61.6 – Total other intangible assets $ 415.9 $ (217.9) $ 409.5 $ (206.2)
Weighted-Average Amortization Period by Major Class	The weighted-average amortization periods related to other intangible assets are as follows: In Years Customer relationships 15 Internally developed software 3 Patents 9 Trademarks 6 Other 39

Exit and Disposal Activities (T

Exit and Disposal Activities (Tables)	6 Months Ended
	Jul. 04, 2015
Restructuring and Related Activities [Abstract]
Recorded Costs Associated with Exit and Disposal Activities	Snap-on did not record any costs for exit and disposal activities in the three and six month periods ended July 4, 2015; in the three and six month periods ended June 28, 2014, Snap-on recorded costs for exit and disposal activities for the Repair Systems & Information Group as follows: Three Months Ended Six Months Ended (Amounts in millions) June 28, 2014 June 28, 2014 Exit and disposal costs: Repair Systems & Information Group: Cost of goods sold $ 1.2 $ 3.2 Operating expenses 0.2 0.2 Total exit and disposal costs $ 1.4 $ 3.4
Components of Exit and Disposal Accrual Activity	Snap-on’s exit and disposal accrual activity for the first and second quarters of 2015 is as follows: Balance at January 3, 2015 First Quarter Balance at April 4, Second Quarter Balance at July 4, 2015 (Amounts in millions) Provision Usage Provision Usage Severance costs: Commercial & Industrial Group $ 0.8 $ – $ (0.3) $ 0.5 $ – $ (0.1) $ 0.4 Repair Systems & Information Group 5.7 – (0.4) 5.3 – (0.6) 4.7 Total $ 6.5 $ – $ (0.7) $ 5.8 $ – $ (0.7) $ 5.1

Short-term and Long-term Debt (

Short-term and Long-term Debt (Tables)	6 Months Ended
	Jul. 04, 2015
Debt Disclosure [Abstract]
Short-term and Long-term Debt	Short-term and long-term debt as of July 4, 2015, and January 3, 2015, consisted of the following: (Amounts in millions) July 4, 2015 January 3, 2015 5.50% unsecured notes due 2017 $ 150.0 $ 150.0 4.25% unsecured notes due 2018 250.0 250.0 6.70% unsecured notes due 2019 200.0 200.0 6.125% unsecured notes due 2021 250.0 250.0 Other debt* 72.4 69.3 922.4 919.3 Less: notes payable (61.0) (56.6) Total long-term debt $ 861.4 $ 862.7 * Includes fair value adjustments related to interest rate swaps.

Financial Instruments (Tables)

Financial Instruments (Tables)	6 Months Ended
	Jul. 04, 2015
Investments, All Other Investments [Abstract]
Fair Value of Derivative Instruments Included within Condensed Consolidated Balance Sheets	The fair value of derivative instruments included within the Condensed Consolidated Balance Sheets as of July 4, 2015, and January 3, 2015, are as follows: July 4, 2015 January 3, 2015 (Amounts in millions) Balance Sheet Presentation Asset Liability Asset Liability Derivatives designated as hedging instruments: Interest rate swaps Other assets $ 12.7 $ – $ 14.0 $ – Derivatives not designated as hedging instruments: Foreign currency forwards Prepaid expenses and other assets $ 5.1 $ – $ 6.6 $ – Foreign currency forwards Other accrued liabilities – 1.9 – 14.7 Equity forwards Prepaid expenses and other assets 20.8 – 15.4 – Total $ 25.9 $ 1.9 $ 22.0 $ 14.7 Total derivatives instruments $ 38.6 $ 1.9 $ 36.0 $ 14.7
Derivative Instruments Designated as Fair Value Hedges Included in Condensed Consolidated Statements of Earnings	The effect of derivative instruments designated as fair value hedges as included in the Condensed Consolidated Statements of Earnings is as follows: Effective Portion of Gain Recognized in Income Three months ended Six months ended (Amounts in millions) Statement of Earnings July 4, 2015 June 28, 2014 July 4, 2015 June 28, 2014 Derivatives designated as fair value hedges: Interest rate swaps Interest expense $ 1.0 $ 1.0 $ 2.0 $ 2.0
Effect of Derivative Instruments Designated as Cash Flow Hedges Included in Accumulated OCI on Condensed Consolidated Balance Sheets and Condensed Consolidated Statements of Earnings	The effect of derivative instruments designated as cash flow hedges as included in Accumulated OCI on the Condensed Consolidated Balance Sheets and the Condensed Consolidated Statements of Earnings is as follows: Effective Portion of Gain Accumulated OCI Three months ended Statement of Effective Portion of Gain Three months ended (Amounts in millions) July 4, 2015 June 28, 2014 July 4, 2015 June 28, 2014 Derivatives designated as cash flow hedges: Treasury locks $ – $ – Interest expense $ 0.1 $ 0.1 Effective Portion of Gain Accumulated OCI Six months ended Statement of Effective Portion of Gain Six months ended (Amounts in millions) July 4, 2015 June 28, 2014 July 4, 2015 June 28, 2014 Derivatives designated as cash flow hedges: Treasury locks $ – $ – Interest expense $ 0.2 $ 0.2
Derivative Instruments Not Designated as Hedges Included in Condensed Consolidated Statements of Earnings	The effects of derivative instruments not designated as hedging instruments as included in the Condensed Consolidated Statements of Earnings are as follows: Gain (Loss) Recognized in Income Statement of Earnings Three months ended Six months ended (Amounts in millions) July 4, 2015 June 28, 2014 July 4, 2015 June 28, 2014 Derivatives not designated as hedging instruments: Foreign currency forwards Other income (expense) – net $ 4.1 $ (3.0) $ (10.9) $ 1.0 Equity forwards Operating expenses 1.7 0.8 3.2 1.3
Fair Values of Financial Instruments Not Approximating Carrying Values in Financial Statements	Fair Value of Financial Instruments: July 4, 2015 January 3, 2015 (Amounts in millions) Carrying Value Fair Value Carrying Value Fair Value Finance receivables – net $ 1,130.5 $ 1,290.2 $ 1,052.9 $ 1,198.4 Contract receivables – net 322.0 355.2 316.5 348.2 Long-term debt and notes payable 922.4 1,023.9 919.3 1,031.3

Pension Plans (Tables)

Pension Plans (Tables)	6 Months Ended
	Jul. 04, 2015
Compensation and Retirement Disclosure [Abstract]
Net Periodic Pension Cost	Snap-on’s net periodic pension cost included the following components: Three Months Ended Six Months Ended (Amounts in millions) July 4, 2015 June 28, 2014 July 4, 2015 June 28, 2014 Service cost $ 4.9 $ 4.2 $ 10.1 $ 9.0 Interest cost 13.6 14.4 26.8 28.7 Expected return on plan assets (20.3) (18.1) (39.7) (36.3) Amortization of unrecognized loss 10.5 6.0 19.4 11.4 Amortization of prior service credit (0.2) (0.2) (0.4) (0.4) Net periodic pension cost $ 8.5 $ 6.3 $ 16.2 $ 12.4

Postretirement Health Care Pl34

Postretirement Health Care Plans (Tables)	6 Months Ended
	Jul. 04, 2015
Postemployment Benefits [Abstract]
Net Periodic Postretirement Health Care Cost	Snap-on’s net periodic postretirement health care cost included the following components: Three Months Ended Six Months Ended (Amounts in millions) July 4, 2015 June 28, 2014 July 4, 2015 June 28, 2014 Interest cost $ 0.6 $ 0.7 $ 1.1 $ 1.3 Expected return on plan assets (0.3) (0.3) (0.5) (0.6) Amortization of unrecognized loss 0.1 – 0.2 – Net periodic postretirement health care cost $ 0.4 $ 0.4 $ 0.8 $ 0.7

Stock-based Compensation and 35

Stock-based Compensation and Other Stock Plans (Tables)	6 Months Ended
	Jul. 04, 2015
Summary 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 six month period ended July 4, 2015, and the three and six month periods ended June 28, 2014, using the Black-Scholes valuation model; there were no stock options granted during the three month period ended July 4, 2015: Three Months Ended Six Months Ended July 4, 2015 June 28, 2014 July 4, 2015 June 28, 2014 Expected term of option (in years) N/A 3.47 4.76 4.52 Expected volatility factor N/A 24.54% 24.13% 26.76% Expected dividend yield N/A 2.28% 2.04% 2.40% Risk-free interest rate N/A 0.89% 1.38% 1.30%
Summary of Stock Option Activity	A summary of stock option activity as of and for the six month period ended July 4, 2015, is presented below: Shares (in thousands) Exercise Remaining (in years) Aggregate (in millions) Outstanding at January 3, 2015 2,630 $ 71.13 Granted 634 144.69 Exercised (351) 61.50 Forfeited or expired (18) 113.09 Outstanding at July 4, 2015 2,895 88.15 7.2 $ 210.3 Exercisable at July 4, 2015 1,661 62.63 5.8 163.0 * Weighted-average
Nonvested Performance Shares [Member]
Summary of Changes in Non-Vested Performance Awards	Changes to the company’s non-vested performance awards during the six month period ended July 4, 2015, are as follows: Shares (in thousands) Fair Value Share* Non-vested performance awards at January 3, 2015 327 $ 91.92 Granted 128 139.06 Vested (2) 89.35 Cancellations and other (9) 89.04 Non-vested performance awards at July 4, 2015 444 105.48 * Weighted-average
Stock-Settled SARs [Member]
Summary 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 six month period ended July 4, 2015, and the three and six month periods ended June 28, 2014, using the Black-Scholes valuation model; there were no stock-settled SARs granted during the three month period ended July 4, 2015: Three Months Ended Six Months Ended July 4, 2015 June 28, 2014 July 4, 2015 June 28, 2014 Expected term of stock-settled SARs (in years) N/A 3.47 4.72 4.49 Expected volatility factor N/A 24.54% 23.67% 25.64% Expected dividend yield N/A 2.28% 2.04% 2.40% Risk-free interest rate N/A 0.89% 1.50% 1.50%
Summary of Changes in SARs	Changes to the company’s stock-settled SARs during the six month period ended July 4, 2015, are as follows: Stock-settled (in thousands) Exercise Remaining (in years) Aggregate (in millions) Outstanding at January 3, 2015 223 $ 94.90 Granted 112 144.69 Exercised (12) 87.49 Forfeited or expired (19) 92.85 Outstanding at July 4, 2015 304 113.64 8.7 $ 14.3 Exercisable at July 4, 2015 77 89.84 8.0 5.4 * Weighted-average
Cash-Settled Stock Appreciation Rights [Member]
Summary 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 cash-settled SARs granted during the six month periods ended July 4, 2015, and June 28, 2014, using the Black-Scholes valuation model; no cash-settled SARs were granted during the three month periods ended July 4, 2015, or June 28, 2014: Six Months Ended July 4, 2015 June 28, 2014 Expected term of cash-settled SARs (in years) 3.62 4.00 Expected volatility factor 23.08% 24.15% Expected dividend yield 1.85% 2.29% Risk-free interest rate 1.01% 1.64%
Summary of Changes in SARs	Changes to the company’s non-vested cash-settled SARs during the six month period ended July 4, 2015, are as follows: Cash-settled (in thousands) Fair Value Non-vested cash-settled SARs at January 3, 2015 47 $ 68.35 Granted 4 31.02 Vested (44) 95.98 Non-vested cash-settled SARs at July 4, 2015 7 44.92 * Weighted-average

Earnings Per Share (Tables)

Earnings Per Share (Tables)	6 Months Ended
	Jul. 04, 2015
Earnings Per Share [Abstract]
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 Six Months Ended July 4, 2015 June 28, 2014 July 4, 2015 June 28, 2014 Weighted-average common shares outstanding 58,114,681 58,127,969 58,123,538 58,167,091 Effect of dilutive securities 991,763 870,507 982,338 870,775 Weighted-average common shares outstanding, assuming dilution 59,106,444 58,998,476 59,105,876 59,037,866

Commitments and Contingencies (

Commitments and Contingencies (Tables)	6 Months Ended
	Jul. 04, 2015
Commitments and Contingencies Disclosure [Abstract]
Summary of Product Warranty Accrual Activity	Snap-on’s product warranty accrual activity for the three and six month periods ended July 4, 2015, and June 28, 2014, is as follows: Three Months Ended Six Months Ended (Amounts in millions) July 4, 2015 June 28, 2014 July 4, 2015 June 28, 2014 Warranty reserve: Beginning of period $ 17.1 $ 16.7 $ 17.3 $ 17.0 Additions 3.9 4.0 7.6 6.9 Usage (3.0) (3.0) (6.9) (6.2) End of period $ 18.0 $ 17.7 $ 18.0 $ 17.7

Other Income (Expense) - Net (T

Other Income (Expense) - Net (Tables)	6 Months Ended
	Jul. 04, 2015
Other Income and Expenses [Abstract]
Computation of Other Income (Expense) - Net	“Other income (expense) – net” on the accompanying Condensed Consolidated Statements of Earnings consists of the following: Three Months Ended Six Months Ended (Amounts in millions) July 4, June 28, July 4, June 28, Interest income $ 0.1 $ 0.1 $ 0.2 $ 0.2 Net foreign exchange gain (loss) (0.7) 0.1 (1.5) (0.1) Other (0.1) 0.1 (0.1) 0.1 Total other income (expense) – net $ (0.7) $ 0.3 $ (1.4) $ 0.2

Accumulated Other Comprehensi39

Accumulated Other Comprehensive Income (Loss) (Tables)	6 Months Ended
	Jul. 04, 2015
Equity [Abstract]
Net Changes in Accumulated OCI by Component, Net of Tax	The following is a summary of net changes in Accumulated OCI by component and net of tax for the second quarter of fiscal 2015: (Amounts in millions) Foreign Cash Flow Defined Pension and Total Balance as of April 4, 2015 $ (104.0) $ 0.9 $ (236.1) $ (339.2) Other comprehensive income before reclassifications 30.7 – – 30.7 Amounts reclassified from Accumulated OCI – (0.1) 6.6 6.5 Net other comprehensive income (loss) 30.7 (0.1) 6.6 37.2 Balance as of July 4, 2015 $ (73.3) $ 0.8 $ (229.5) $ (302.0) The following is a summary of net changes in Accumulated OCI by component and net of tax for the first six months of fiscal 2015: (Amounts in millions) Foreign Cash Flow Defined Pension and Total Balance as of January 3, 2015 $ (7.7) $ 1.0 $ (241.5) $ (248.2) Other comprehensive loss before reclassifications (65.6) – – (65.6) Amounts reclassified from Accumulated OCI – (0.2) 12.0 11.8 Net other comprehensive income (loss) (65.6) (0.2) 12.0 (53.8) Balance as of July 4, 2015 $ (73.3) $ 0.8 $ (229.5) $ (302.0) The following is a summary of net changes in Accumulated OCI by component and net of tax for the second quarter of fiscal 2014: (Amounts in millions) Foreign Cash Flow Defined Pension and Total Balance as of March 29, 2014 $ 125.8 $ 1.2 $ (163.9) $ (36.9) Other comprehensive income before reclassifications (3.2) – – (3.2) Amounts reclassified from Accumulated OCI – (0.1) 3.7 3.6 Net other comprehensive income (loss) (3.2) (0.1) 3.7 0.4 Balance as of June 28, 2014 $ 122.6 $ 1.1 $ (160.2) $ (36.5) The following is a summary of net changes in Accumulated OCI by component and net of tax for the first six months of fiscal 2014: (Amounts in millions) Foreign Cash Flow Defined Pension and Total Balance as of December 28, 2013 $ 121.1 $ 1.3 $ (167.2) $ (44.8) Other comprehensive income before reclassifications 1.5 – – 1.5 Amounts reclassified from Accumulated OCI – (0.2) 7.0 6.8 Net other comprehensive income (loss) 1.5 (0.2) 7.0 8.3 Balance as of June 28, 2014 $ 122.6 $ 1.1 $ (160.2) $ (36.5)
Reclassifications Out of Accumulated OCI	The reclassifications out of Accumulated OCI for the three and six month periods ended July 4, 2015, and June 28, 2014, are as follows: Amount Reclassified from Accumulated OCI Three Months Ended Six Months Ended Details about Accumulated OCI July 4, 2015 June 28, 2014 July 4, 2015 June 28, 2014 Statement of Earnings (Amounts in millions) Gains on cash flow hedges: Treasury locks $ 0.1 $ 0.1 $ 0.2 $ 0.2 Interest expense Income tax expense – – – – Income tax expense Net of tax 0.1 0.1 0.2 0.2 Amortization of net unrecognized losses and prior service credits (10.4) (5.8) (19.2) (11.0) See footnote below* Income tax benefit 3.8 2.1 7.2 4.0 Income tax expense Net of tax (6.6) (3.7) (12.0) (7.0) Total reclassifications for the period, net of tax $ (6.5) $ (3.6) $ (11.8) $ (6.8) * 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 further information.

Segments (Tables)

Segments (Tables)	6 Months Ended
	Jul. 04, 2015
Segment Reporting [Abstract]
Net Sales by Segment	Financial data by segment was as follows: Three Months Ended Six Months Ended (Amounts in millions) July 4, 2015 June 28, 2014 July 4, 2015 June 28, 2014 Net sales: Commercial & Industrial Group $ 295.8 $ 287.2 $ 593.3 $ 577.8 Snap-on Tools Group 398.7 369.1 776.9 712.7 Repair Systems & Information Group 277.4 278.5 549.7 541.2 Segment net sales 971.9 934.8 1,919.9 1,831.7 Intersegment eliminations (120.1) (108.3) (240.3) (217.7) Total net sales $ 851.8 $ 826.5 $ 1,679.6 $ 1,614.0 Financial Services revenue 58.7 51.7 116.1 101.9 Total revenues $ 910.5 $ 878.2 $ 1,795.7 $ 1,715.9 Operating earnings: Commercial & Industrial Group $ 42.2 $ 38.2 $ 86.2 $ 77.3 Snap-on 68.0 60.5 127.8 109.7 Repair Systems & Information Group 67.7 64.6 131.6 122.7 Financial Services 41.4 34.8 81.7 69.2 Segment operating earnings 219.3 198.1 427.3 378.9 Corporate (27.1) (25.2) (56.9) (49.9) Operating earnings $ 192.2 $ 172.9 $ 370.4 $ 329.0 Interest expense (12.9) (12.7) (25.9) (26.4) Other income (expense) – net (0.7) 0.3 (1.4) 0.2 Earnings before income taxes and equity earnings $ 178.6 $ 160.5 $ 343.1 $ 302.8
Assets by Segment	July 4, 2015 January 3, 2015 Assets: Commercial & Industrial Group $ 931.6 $ 939.7 Snap-on Tools Group 637.3 600.1 Repair Systems & Information Group 1,037.6 1,036.8 Financial Services 1,452.6 1,368.3 Total assets from reportable segments $ 4,059.1 $ 3,944.9 Corporate 378.8 401.7 Elimination of intersegment receivables (47.2) (36.5) Total assets $ 4,390.7 $ 4,310.1

Summary of Accounting Policie41

Summary of Accounting Policies - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jul. 04, 2015	Jun. 28, 2014	Jul. 04, 2015	Jun. 28, 2014	Jan. 03, 2015
Summary Of Accounting Policies [Line Items]
Investments in unconsolidated affiliates	$ 13.3		$ 13.3		$ 13.3
Purchases from unconsolidated affiliates	$ 3.8	$ 3.6	$ 7.7	$ 7.4
Minimum [Member]
Summary Of Accounting Policies [Line Items]
Percentage of ownership interest under equity method accounting	20.00%		20.00%
Maximum [Member]
Summary Of Accounting Policies [Line Items]
Percentage of ownership interest under equity method accounting	50.00%		50.00%

Acquisitions - Additional Infor

Acquisitions - Additional Information (Detail) - USD ($) $ in Millions	May. 28, 2014	Jun. 28, 2014
Business Acquisition [Line Items]
Cash purchase price of acquisition		$ 41.6
Pro-Cut International, Inc [Member]
Business Acquisition [Line Items]
Cash purchase price of acquisition	$ 41.3
Preliminary cash purchase price of acquisition	$ 41.6

Receivables - Additional Inform

Receivables - Additional Information (Detail) - USD ($) $ in Millions	6 Months Ended
	Jul. 04, 2015	Jan. 03, 2015
Receivables [Abstract]
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)	3 years
Maximum payment term for contract receivables (in years)	10 years
Minimum period past due to consider receivable balances as delinquent (days)	30 days
Minimum period past due to consider non-accrual finance receivables nonperforming (days)	90 days
Minimum period past due to declare receivable as non-accrual status (days)	90 days
Impaired finance receivables	$ 14.8	$ 15.5
Impaired contract receivables	$ 1.6	$ 1.5

Receivables - Components of Tra

Receivables - Components of Trade and Other Accounts Receivable (Detail) - USD ($) $ in Millions	Jul. 04, 2015	Jan. 03, 2015
Receivables [Abstract]
Trade and other accounts receivable	$ 575.1	$ 567
Allowances for doubtful accounts	(17.1)	(16.2)
Total trade and other accounts receivable - net	$ 558	$ 550.8

Receivables - Components of Cur

Receivables - Components of Current Finance and Contract Receivables (Detail) - USD ($) $ in Millions	Jul. 04, 2015	Jan. 03, 2015
Receivables [Abstract]
Finance receivables, net of unearned finance charges of $16.5 million and $15.6 million, respectively	$ 434.3	$ 414.6
Contract receivables, net of unearned finance charges of $14.4 million and $13.9 million, respectively	70.3	75.5
Total	504.6	490.1
Allowances for doubtful accounts, finance receivables	(12.6)	(12.2)
Allowances for doubtful accounts, contract receivables	(1.2)	(1)
Total	(13.8)	(13.2)
Total current finance and contract receivables - net	490.8	476.9
Finance receivables - net	421.7	402.4
Contract receivables - net	69.1	74.5
Total current finance and contract receivables - net	$ 490.8	$ 476.9

Receivables - Components of C46

Receivables - Components of Current Finance and Contract Receivables (Parenthetical) (Detail) - USD ($) $ in Millions	Jul. 04, 2015	Jan. 03, 2015
Receivables [Abstract]
Unearned finance charges, finance receivables	$ 16.5	$ 15.6
Unearned finance charges, contract receivable	$ 14.4	$ 13.9

Receivables - Components of Fin

Receivables - Components of Finance and Contract Receivables Beyond One Year (Detail) - USD ($) $ in Millions	Jul. 04, 2015	Jan. 03, 2015
Receivables [Abstract]
Finance receivables, net of unearned finance charges of $10.7 million and $9.9 million, respectively	$ 731.1	$ 671
Contract receivables, net of unearned finance charges of $20.4 million and $19.4 million, respectively	255.9	244.5
Total	987	915.5
Allowances for doubtful accounts, finance receivables	(22.3)	(20.5)
Allowances for doubtful accounts, contract receivables	(3)	(2.5)
Total	(25.3)	(23)
Total long-term finance and contract receivables - net	961.7	892.5
Finance receivables - net	708.8	650.5
Contract receivables - net	252.9	242
Total long-term finance and contract receivables - net	$ 961.7	$ 892.5

Receivables - Components of F48

Receivables - Components of Finance and Contract Receivables Beyond One Year (Parenthetical) (Detail) - USD ($) $ in Millions	Jul. 04, 2015	Jan. 03, 2015
Receivables [Abstract]
Unearned finance charges, finance receivables	$ 10.7	$ 9.9
Unearned finance charges, contract receivable	$ 20.4	$ 19.4

Receivables - Aging of Finance

Receivables - Aging of Finance and Contract Receivables (Detail) - USD ($) $ in Millions	Jul. 04, 2015	Jan. 03, 2015
Receivables [Abstract]
Finance receivables, 30-59 Days Past Due	$ 9.6	$ 9.8
Finance receivables, 60-90 Days Past Due	6	6.7
Finance receivables, Greater Than 90 Days Past Due	8.7	10.4
Finance receivables, Total Past Due	24.3	26.9
Finance receivables, Total Not Past Due	1,141.1	1,058.7
Finance receivables, Total	1,165.4	1,085.6
Finance receivables, Greater Than 90 Days Past Due and Accruing	6.3	7.7
Contract receivables, 30-59 Days Past Due	1.1	0.9
Contract receivables, 60-90 Days Past Due	0.9	0.7
Contract receivables, Greater Than 90 Days Past Due	1.2	1.1
Contract receivables, Total Past Due	3.2	2.7
Contract receivables, Total Not Past Due	323	317.3
Contract receivables, Total	326.2	320
Contract receivables, Greater Than 90 Days Past Due and Accruing	$ 0.2	$ 0.1

Receivables - Schedule of Perfo

Receivables - Schedule of Performing and Nonperforming Finance and Contract Receivables (Detail) - USD ($) $ in Millions	Jul. 04, 2015	Jan. 03, 2015
Financing Receivable, Recorded Investment [Line Items]
Finance Receivables	$ 1,165.4	$ 1,085.6
Contract Receivables	326.2	320
Performing [Member]
Financing Receivable, Recorded Investment [Line Items]
Finance Receivables	1,150.6	1,070.1
Contract Receivables	324.6	318.5
Nonperforming [Member]
Financing Receivable, Recorded Investment [Line Items]
Finance Receivables	14.8	15.5
Contract Receivables	$ 1.6	$ 1.5

Receivables - Schedule of Finan

Receivables - Schedule of Finance and Contract Receivables on Nonaccrual Status (Detail) - USD ($) $ in Millions	Jul. 04, 2015	Jan. 03, 2015
Receivables [Abstract]
Finance receivables	$ 8.6	$ 7.9
Contract receivables	$ 1.5	$ 1.5

Receivables - Rollforward of Al

Receivables - Rollforward of Allowances for Credit Losses for Finance and Contract Receivables (Detail) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jul. 04, 2015	Jun. 28, 2014	Jul. 04, 2015	Jun. 28, 2014
Receivables [Abstract]
Finance receivables, Allowance for doubtful accounts, Beginning of period	$ 33.4	$ 28.5	$ 32.7	$ 27.8
Finance receivables, Provision for bad debt expense	7.3	7.2	14.4	13.4
Finance receivables, Charge-offs	(7.3)	(6.7)	(15.1)	(13.5)
Finance receivables, Recoveries	1.5	1.3	3	2.6
Finance receivables, Currency translation		0.1	(0.1)	0.1
Finance receivables, Allowance for doubtful accounts, End of period	34.9	30.4	34.9	30.4
Contract receivables, Allowance for doubtful accounts, Beginning of period	3.9	3.6	3.5	3.3
Contract receivables, Provision for bad debt expense	0.7	0.7	1.6	1.3
Contract receivables, Charge-offs	(0.6)	(0.6)	(1)	(1)
Contract receivables, Recoveries	0.2	0.1	0.2	0.2
Contract receivables, Currency translation			(0.1)
Contract receivables, Allowance for doubtful accounts, End of period	$ 4.2	$ 3.8	$ 4.2	$ 3.8

Inventories - Inventories by Ma

Inventories - Inventories by Major Classification (Detail) - USD ($) $ in Millions	Jul. 04, 2015	Jan. 03, 2015
Inventory Disclosure [Abstract]
Finished goods	$ 437.6	$ 415.3
Work in progress	45.7	45.3
Raw materials	88.9	87.5
Total FIFO value	572.2	548.1
Excess of current cost over LIFO cost	(73)	(72.6)
Total inventories - net	$ 499.2	$ 475.5

Inventories - Additional Inform

Inventories - Additional Information (Detail) - USD ($)	3 Months Ended		6 Months Ended
	Jul. 04, 2015	Jun. 28, 2014	Jul. 04, 2015	Jun. 28, 2014	Jan. 03, 2015
Geographic Valuation Methodologies Of Inventory [Line Items]
Effect of LIFO inventory liquidation on income	$ 0	$ 0	$ 0	$ 0
Foreign and US Countries [Member]
Geographic Valuation Methodologies Of Inventory [Line Items]
Percentage of FIFO Inventory	59.00%		59.00%		58.00%
United States [Member]
Geographic Valuation Methodologies Of Inventory [Line Items]
Percentage of FIFO Inventory	33.00%		33.00%
Percentage of LIFO Inventory	67.00%		67.00%

Goodwill and Other Intangible55

Goodwill and Other Intangible Assets - Changes in Carrying Amount of Goodwill by Segment (Detail) $ in Millions	6 Months Ended
	Jul. 04, 2015USD ($)
Goodwill [Line Items]
Beginning Balance	$ 810.7
Currency translation	(22.9)
Ending Balance	787.8
Commercial & Industrial Group [Member]
Goodwill [Line Items]
Beginning Balance	275.9
Currency translation	(20.5)
Ending Balance	255.4
Snap-on Tools Group [Member]
Goodwill [Line Items]
Beginning Balance	$ 12.5
Currency translation
Ending Balance	$ 12.5
Repair Systems & Information Group [Member]
Goodwill [Line Items]
Beginning Balance	522.3
Currency translation	(2.4)
Ending Balance	$ 519.9

Goodwill and Other Intangible56

Goodwill and Other Intangible Assets - Other Intangible Assets by Major Class (Detail) - USD ($) $ in Millions	Jul. 04, 2015	Jan. 03, 2015
Finite-Lived Intangible Assets [Line Items]
Gross carrying value, Total	$ 355.7	$ 347.9
Non-amortized trademarks	60.2	61.6
Total other intangible assets	415.9	409.5
Accumulated Amortization, Total	(217.9)	(206.2)
Total other intangible assets	(217.9)	(206.2)
Customer relationships [Member]
Finite-Lived Intangible Assets [Line Items]
Gross carrying value, Total	147.2	147.1
Accumulated Amortization, Total	(75.8)	(71.2)
Developed technology [Member]
Finite-Lived Intangible Assets [Line Items]
Gross carrying value, Total	19.2	19.2
Accumulated Amortization, Total	(19.2)	(19.2)
Internally developed software [Member]
Finite-Lived Intangible Assets [Line Items]
Gross carrying value, Total	149.8	142.2
Accumulated Amortization, Total	(99)	(92)
Patents [Member]
Finite-Lived Intangible Assets [Line Items]
Gross carrying value, Total	29.4	29.3
Accumulated Amortization, Total	(20.5)	(20.6)
Trademarks [Member]
Finite-Lived Intangible Assets [Line Items]
Gross carrying value, Total	2.5	2.5
Accumulated Amortization, Total	(1.6)	(1.6)
Other [Member]
Finite-Lived Intangible Assets [Line Items]
Gross carrying value, Total	7.6	7.6
Accumulated Amortization, Total	$ (1.8)	$ (1.6)

Goodwill and Other Intangible57

Goodwill and Other Intangible Assets - Additional Information (Detail) - USD ($)	3 Months Ended		6 Months Ended
	Jul. 04, 2015	Jun. 28, 2014	Jul. 04, 2015	Jun. 28, 2014
Acquired Finite And Indefinite Lived Intangible Assets [Line Items]
Accumulated impairment losses	$ 0		$ 0
Weighted-average amortization period (in years)			11 years
Aggregate amortization expense	6,200,000	$ 6,100,000	$ 12,400,000	$ 12,300,000
Estimated annual amortization expense for fiscal period 2015	24,700,000		24,700,000
Estimated annual amortization expense for fiscal period 2016	20,800,000		20,800,000
Estimated annual amortization expense for fiscal period 2017	17,700,000		17,700,000
Estimated annual amortization expense for fiscal period 2018	14,800,000		14,800,000
Estimated annual amortization expense for fiscal period 2019	13,800,000		13,800,000
Estimated annual amortization expense for fiscal period 2020	$ 12,200,000		$ 12,200,000
Customer relationships [Member]
Acquired Finite And Indefinite Lived Intangible Assets [Line Items]
Weighted-average amortization period (in years)			15 years
Customer relationship contractual term, minimum (in years)			3 years
Customer relationship contractual term, maximum (in years)			5 years

Goodwill and Other Intangible58

Goodwill and Other Intangible Assets - Weighted-Average Amortization Period by Major Class (Detail)	6 Months Ended
	Jul. 04, 2015
Finite-Lived Intangible Assets [Line Items]
Weighted-average Amortization (in years)	11 years
Customer relationships [Member]
Finite-Lived Intangible Assets [Line Items]
Weighted-average Amortization (in years)	15 years
Internally developed software [Member]
Finite-Lived Intangible Assets [Line Items]
Weighted-average Amortization (in years)	3 years
Patents [Member]
Finite-Lived Intangible Assets [Line Items]
Weighted-average Amortization (in years)	9 years
Trademarks [Member]
Finite-Lived Intangible Assets [Line Items]
Weighted-average Amortization (in years)	6 years
Other [Member]
Finite-Lived Intangible Assets [Line Items]
Weighted-average Amortization (in years)	39 years

Exit and Disposal Activities -

Exit and Disposal Activities - Recorded Costs Associated with Exit and Disposal Activities (Detail) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jul. 04, 2015	Jun. 28, 2014	Jul. 04, 2015	Jun. 28, 2014
Restructuring Cost and Reserve [Line Items]
Cost of goods sold	$ 432.8	$ 426.1	$ 850.5	$ 834.9
Operating expenses	$ 268.2	262.3	$ 540.4	519.3
Total exit and disposal costs		1.4		3.4
Repair Systems & Information Group [Member]
Restructuring Cost and Reserve [Line Items]
Cost of goods sold		1.2		3.2
Operating expenses		$ 0.2		$ 0.2

Exit and Disposal Activities 60

Exit and Disposal Activities - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended	6 Months Ended
	Jun. 28, 2014	Jul. 04, 2015	Jun. 28, 2014	Apr. 04, 2015	Jan. 03, 2015
Restructuring and Related Activities [Abstract]
Restructuring costs incurred	$ 1.4		$ 3.4
Expected exit and disposal cost		$ 5.1		$ 5.8	$ 6.5
Expected exit and disposal cost, Remainder of fiscal period		$ 1.8

Exit and Disposal Activities 61

Exit and Disposal Activities - Components of Exit and Disposal Accrual Activity (Detail) - USD ($) $ in Millions	3 Months Ended
	Jul. 04, 2015	Apr. 04, 2015
Restructuring Cost and Reserve [Line Items]
Beginning Balance	$ 5.8	$ 6.5
Provision	0	0
Usage	(0.7)	(0.7)
Ending Balance	5.1	5.8
Severance costs [Member] | Commercial & Industrial Group [Member]
Restructuring Cost and Reserve [Line Items]
Beginning Balance	0.5	0.8
Provision	0	0
Usage	(0.1)	(0.3)
Ending Balance	0.4	0.5
Severance costs [Member] | Repair Systems & Information Group [Member]
Restructuring Cost and Reserve [Line Items]
Beginning Balance	5.3	5.7
Provision	0	0
Usage	(0.6)	(0.4)
Ending Balance	$ 4.7	$ 5.3

Income Taxes - Additional Infor

Income Taxes - Additional Information (Detail) - USD ($)	6 Months Ended
	Jul. 04, 2015	Jun. 28, 2014
Income Tax [Line Items]
Effective income tax rate	32.00%	32.30%
Minimum [Member]
Income Tax [Line Items]
Decrease in unrecognized tax benefits	$ 0
Increase in unrecognized tax benefits	0
Maximum [Member]
Income Tax [Line Items]
Decrease in unrecognized tax benefits	900,000
Increase in unrecognized tax benefits	$ 400,000

Short-term and Long-term Debt -

Short-term and Long-term Debt - Short-term and Long-term Debt (Detail) - USD ($) $ in Millions	Jul. 04, 2015	Jan. 03, 2015
Schedule Of Debt Instruments [Line Items]
Other debt	$ 72.4	$ 69.3
Long-term debt including current maturities	922.4	919.3
Less: notes payable	(61)	(56.6)
Total long-term debt	861.4	862.7
Long-term debt including current maturities	922.4	919.3
5.50% Unsecured Notes Due 2017 [Member]
Schedule Of Debt Instruments [Line Items]
Unsecured notes	150	150
4.25% Unsecured Notes Due 2018 [Member]
Schedule Of Debt Instruments [Line Items]
Unsecured notes	250	250
6.70% Unsecured Notes Due 2019 [Member]
Schedule Of Debt Instruments [Line Items]
Unsecured notes	200	200
6.125% Unsecured Notes Due 2021 [Member]
Schedule Of Debt Instruments [Line Items]
Unsecured notes	$ 250	$ 250

Short-term and Long-term Debt64

Short-term and Long-term Debt - Short-term and Long-term Debt (Parenthetical) (Detail)	6 Months Ended	12 Months Ended
	Jul. 04, 2015	Jan. 03, 2015
5.50% Unsecured Notes Due 2017 [Member]
Schedule Of Debt Instruments [Line Items]
Unsecured notes, interest rate	5.50%	5.50%
Unsecured notes, maturity year	2,017	2,017
4.25% Unsecured Notes Due 2018 [Member]
Schedule Of Debt Instruments [Line Items]
Unsecured notes, interest rate	4.25%	4.25%
Unsecured notes, maturity year	2,018	2,018
6.70% Unsecured Notes Due 2019 [Member]
Schedule Of Debt Instruments [Line Items]
Unsecured notes, interest rate	6.70%	6.70%
Unsecured notes, maturity year	2,019	2,019
6.125% Unsecured Notes Due 2021 [Member]
Schedule Of Debt Instruments [Line Items]
Unsecured notes, interest rate	6.125%	6.125%
Unsecured notes, maturity year	2,021	2,021

Short-term and Long-term Debt65

Short-term and Long-term Debt - Additional Information (Detail)	6 Months Ended
	Jul. 04, 2015USD ($)	Jan. 03, 2015USD ($)
Schedule Of Debt Instruments [Line Items]
Notes payable	$ 61,000,000	$ 56,600,000
Commercial paper borrowings	35,000,000	37,000,000
Other notes payable	26,000,000	$ 19,600,000
Five-year Multi-Currency Revolving Credit Facility [Member]
Schedule Of Debt Instruments [Line Items]
Revolving credit facility, amount available	700,000,000
Revolving credit facility, outstanding amount	$ 0
Debt maturity term	5 years
Revolving credit facility, termination date	Sep. 27, 2018
Debt instrument, restrictive covenants	(i) a ratio not greater than 0.60 to 1.00 of consolidated net debt (consolidated debt net of certain cash adjustments) to the sum of such consolidated net debt plus total equity and less accumulated other comprehensive income or loss; or (ii) a ratio not greater than 3.50 to 1.00 of such consolidated net debt to earnings before interest, taxes, depreciation, amortization and certain other adjustments for the preceding four fiscal quarters then ended.
Actual debt-to-capital ratio	0.26
Actual debt-to-income ratio	1.09
Five-year Multi-Currency Revolving Credit Facility [Member] | Maximum [Member]
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

Financial Instruments - Additio

Financial Instruments - Additional Information (Detail) - USD ($)	3 Months Ended		6 Months Ended		12 Months Ended
	Jul. 04, 2015	Jun. 28, 2014	Jul. 04, 2015	Jun. 28, 2014	Jan. 03, 2015
Investment Holdings [Line Items]
Foreign currency forwards outstanding	$ 140,900,000		$ 140,900,000		$ 140,400,000
Long-term debt related to interest rate swaps			12,700,000		14,000,000
Foreign exchange gain (loss)	(700,000)	$ 100,000	$ (1,500,000)	$ (100,000)
Maximum maturity date of fair value hedge (in years)			6 years
Derivative gain expected to reclassify from Accumulated OCI into earnings, in the next 12 months, net of tax	200,000		$ 200,000
Fair Value Hedging [Member]
Investment Holdings [Line Items]
Notional amount of interest rate swaps outstanding and designated as fair value hedges	$ 100,000,000		$ 100,000,000		100,000,000
Equity Forwards [Member]
Investment Holdings [Line Items]
Equity forwards in place of common stock associated with its deferred compensation plans	129,200		129,200
Not Designated as Hedging Instrument [Member] | Other Income (Expense) - Net [Member]
Investment Holdings [Line Items]
Transaction gains (losses) on net exposures	$ (4,800,000)	3,100,000	$ 9,400,000	(1,100,000)
Foreign exchange gain (loss)	(700,000)	100,000	(1,500,000)	(100,000)
Not Designated as Hedging Instrument [Member] | Foreign Currency Forwards [Member] | Other Income (Expense) - Net [Member]
Investment Holdings [Line Items]
Derivative gain (losses) recognized	4,100,000	$ (3,000,000)	(10,900,000)	$ 1,000,000
Buy Contracts [Member] | Euros [Member]
Investment Holdings [Line Items]
Foreign currency forwards outstanding	82,200,000		82,200,000		81,500,000
Buy Contracts [Member] | Australian Dollars [Member]
Investment Holdings [Line Items]
Foreign currency forwards outstanding	29,200,000		29,200,000		34,800,000
Buy Contracts [Member] | Swedish Kronor [Member]
Investment Holdings [Line Items]
Foreign currency forwards outstanding	21,400,000		21,400,000		22,100,000
Buy Contracts [Member] | British Pounds [Member]
Investment Holdings [Line Items]
Foreign currency forwards outstanding	2,400,000		2,400,000		16,300,000
Buy Contracts [Member] | Singapore Dollars [Member]
Investment Holdings [Line Items]
Foreign currency forwards outstanding	10,300,000		10,300,000		10,100,000
Buy Contracts [Member] | South Korean Won [Member]
Investment Holdings [Line Items]
Foreign currency forwards outstanding	6,600,000		6,600,000		5,700,000
Buy Contracts [Member] | Mexican Pesos [Member]
Investment Holdings [Line Items]
Foreign currency forwards outstanding	4,500,000		4,500,000		4,500,000
Buy Contracts [Member] | Hong Kong Dollars [Member]
Investment Holdings [Line Items]
Foreign currency forwards outstanding	7,000,000		7,000,000		3,600,000
Buy Contracts [Member] | Chinese Yuan [Member]
Investment Holdings [Line Items]
Foreign currency forwards outstanding	5,400,000		5,400,000
Buy Contracts [Member] | Norwegian Kroner [Member]
Investment Holdings [Line Items]
Foreign currency forwards outstanding	2,800,000		2,800,000
Buy Contracts [Member] | Other Currencies [Member]
Investment Holdings [Line Items]
Foreign currency forwards outstanding	1,100,000		1,100,000		500,000
Sell Contracts [Member] | Other Currencies [Member]
Investment Holdings [Line Items]
Foreign currency forwards outstanding	5,200,000		5,200,000		7,700,000
Sell Contracts [Member] | Japanese Yen [Member]
Investment Holdings [Line Items]
Foreign currency forwards outstanding	11,200,000		11,200,000		10,900,000
Sell Contracts [Member] | Canadian Dollars [Member]
Investment Holdings [Line Items]
Foreign currency forwards outstanding	11,100,000		11,100,000		16,800,000
Sell Contracts [Member] | New Zealand Dollars [Member]
Investment Holdings [Line Items]
Foreign currency forwards outstanding	2,500,000		2,500,000
Sell Contracts [Member] | Brazilian Real [Member]
Investment Holdings [Line Items]
Foreign currency forwards outstanding	2,000,000		2,000,000
Sell Contracts [Member] | Danish Kroner [Member]
Investment Holdings [Line Items]
Foreign currency forwards outstanding					3,300,000
Treasury Locks [Member]
Investment Holdings [Line Items]
Treasury locks settled	0		0		0
Treasury locks outstanding	$ 0		$ 0		$ 0

Financial Instruments - Fair Va

Financial Instruments - Fair Value of Derivative Instruments Included within Condensed Consolidated Balance Sheets (Detail) - USD ($) $ in Millions	Jul. 04, 2015	Jan. 03, 2015
Derivatives, Fair Value [Line Items]
Asset Derivatives Fair Value	$ 38.6	$ 36
Liability Derivatives Fair Value	1.9	14.7
Designated as Hedging Instrument [Member] | Interest Rate Swaps [Member] | Other Assets [Member]
Derivatives, Fair Value [Line Items]
Asset Derivatives Fair Value	12.7	14
Not Designated as Hedging Instrument [Member]
Derivatives, Fair Value [Line Items]
Asset Derivatives Fair Value	25.9	22
Liability Derivatives Fair Value	1.9	14.7
Not Designated as Hedging Instrument [Member] | Foreign Currency Forwards [Member] | Prepaid Expenses and Other Assets [Member]
Derivatives, Fair Value [Line Items]
Asset Derivatives Fair Value	5.1	6.6
Not Designated as Hedging Instrument [Member] | Foreign Currency Forwards [Member] | Other Accrued Liabilities [Member]
Derivatives, Fair Value [Line Items]
Liability Derivatives Fair Value	1.9	14.7
Not Designated as Hedging Instrument [Member] | Equity Forwards [Member] | Prepaid Expenses and Other Assets [Member]
Derivatives, Fair Value [Line Items]
Asset Derivatives Fair Value	$ 20.8	$ 15.4

Financial Instruments - Derivat

Financial Instruments - Derivative Instruments Designated as Fair Value Hedges Included in Condensed Consolidated Statements of Earnings (Detail) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jul. 04, 2015	Jun. 28, 2014	Jul. 04, 2015	Jun. 28, 2014
Interest Rate Swaps [Member] | Interest Expense [Member] | Fair Value Hedging [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Effective Portion of Gain Recognized in Income	$ 1	$ 1	$ 2	$ 2

Financial Instruments - Effect

Financial Instruments - Effect of Derivative Instruments Designated as Cash Flow Hedges Included in Accumulated OCI on Condensed Consolidated Balance Sheets and Condensed Consolidated Statements of Earnings (Detail) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jul. 04, 2015	Jun. 28, 2014	Jul. 04, 2015	Jun. 28, 2014
Interest Expense [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Effective Portion of Gain Reclassified from Accumulated OCI into Income	$ 0.1	$ 0.1	$ 0.2	$ 0.2
Treasury Locks [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Effective Portion of Gain Recognized in Accumulated OCI	$ 0	$ 0	$ 0	$ 0

Financial Instruments - Deriv70

Financial Instruments - Derivative Instruments Not Designated as Hedges Included in Condensed Consolidated Statements of Earnings (Detail) - Not Designated as Hedging Instrument [Member] - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jul. 04, 2015	Jun. 28, 2014	Jul. 04, 2015	Jun. 28, 2014
Foreign Currency Forwards [Member] | Other Income (Expense) - Net [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Gain (Loss) Recognized in Income	$ 4.1	$ (3)	$ (10.9)	$ 1
Equity Forwards [Member] | Operating Expenses [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Gain (Loss) Recognized in Income	$ 1.7	$ 0.8	$ 3.2	$ 1.3

Financial Instruments - Fair 71

Financial Instruments - Fair Values of Financial Instruments Not Approximating Carrying Values in Financial Statements (Detail) - USD ($) $ in Millions	Jul. 04, 2015	Jan. 03, 2015
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt and notes payable	$ 922.4	$ 919.3
Carrying Value [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Finance receivables - net	1,130.5	1,052.9
Contract receivables - net	322	316.5
Long-term debt and notes payable	922.4	919.3
Fair Value [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Finance receivables - net	1,290.2	1,198.4
Contract receivables - net	355.2	348.2
Long-term debt and notes payable	$ 1,023.9	$ 1,031.3

Pension Plans - Net Periodic Pe

Pension Plans - Net Periodic Pension Cost (Detail) - Pension Plans, Defined Benefit [Member] - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jul. 04, 2015	Jun. 28, 2014	Jul. 04, 2015	Jun. 28, 2014
Defined Benefit Plan Disclosure [Line Items]
Service cost	$ 4.9	$ 4.2	$ 10.1	$ 9
Interest cost	13.6	14.4	26.8	28.7
Expected return on plan assets	(20.3)	(18.1)	(39.7)	(36.3)
Amortization of unrecognized loss	10.5	6	19.4	11.4
Amortization of prior service credit	(0.2)	(0.2)	(0.4)	(0.4)
Net periodic pension cost	$ 8.5	$ 6.3	$ 16.2	$ 12.4

Pension Plans - Additional Info

Pension Plans - Additional Information (Detail) $ in Millions	6 Months Ended
	Jul. 04, 2015USD ($)
Foreign Pension Plans [Member]
Defined Benefit Plan Disclosure [Line Items]
Expected future employer contributions	$ 7.1
Domestic Pension Plans [Member]
Defined Benefit Plan Disclosure [Line Items]
Expected future employer contributions	2
Cash contributions made	25.7
Discretionary contribution	25
Required contribution	$ 0.7

Postretirement Health Care Pl74

Postretirement Health Care Plans - Net Periodic Postretirement Health Care Cost (Detail) - Other Postretirement Benefit Plans, Defined Benefit [Member] - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jul. 04, 2015	Jun. 28, 2014	Jul. 04, 2015	Jun. 28, 2014
Postretirement Health Care Plans [Line Items]
Interest cost	$ 0.6	$ 0.7	$ 1.1	$ 1.3
Expected return on plan assets	(0.3)	(0.3)	(0.5)	(0.6)
Amortization of unrecognized loss	0.1		0.2
Net periodic pension cost	$ 0.4	$ 0.4	$ 0.8	$ 0.7

Stock-Based Compensation and 75

Stock-Based Compensation and Other Stock Plans - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended		6 Months Ended		12 Months Ended
	Jul. 04, 2015	Jun. 28, 2014	Jul. 04, 2015	Jun. 28, 2014	Jan. 03, 2015	Dec. 28, 2013	Dec. 29, 2012
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Number of shares available for future grants	0		0
Net stock-based compensation expense	$ 11.6	$ 10.1	$ 23.1	$ 18.7
Cash received from stock purchase and option plan exercises	22	19.3	36.5	32.1
Tax benefit realized from exercise and vesting of share-based payment arrangements	$ 4.2	3.4	$ 19.3	$ 15.4
2011 Incentive Stock and Awards Plan [Member]
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Number of shares available for future grants	4,986,665		4,986,665
Employees Stock Purchase Plan [Member]
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Number of shares issued			57,324	56,582
Number of shares reserved for issuance	807,719		807,719
Employee contributions for purchase of common stock			$ 0.5
Stock based compensation expense	$ 1.1	0.5	$ 2.1	$ 1
Employee stock purchase plan, description			The purchase price of the company's common stock to participants is the lesser of the mean of the high and low price of the stock on the beginning date (May 15) or ending date (the following May 14) of each plan year.
Franchisee Stock Purchase Plan [Member]
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Number of shares issued			74,001	74,502
Number of shares reserved for issuance	156,336		156,336
Stock based compensation expense	$ 1	0.5	$ 2.2	$ 0.8
Franchisee contributions for purchase of common stock			$ 0.6
Franchisee stock purchase plan, description			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 price of the stock on the beginning date (May 15) or ending date (the following May 14) of each plan year.
Stock Option [Member]
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Weighted average contractual term (in years)			10 years
Weighted-average grant date fair value granted			$ 25.65	$ 20.19
Intrinsic value of stock exercised	10.9	7	$ 30.2	$ 19.4
Fair value of stock vested			9.9	$ 9.5
Unrecognized compensation cost related to non-vested award	22.8		$ 22.8
Cost expected to be recognized over weighted-average period, in years			2 years
Performance Awards [Member]
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Weighted average contractual term (in years)			3 years
Weighted-average grant date fair value granted			$ 139.06	$ 102.55
Unrecognized compensation cost related to non-vested award	23.9		$ 23.9
Cost expected to be recognized over weighted-average period, in years			1 year 10 months 24 days
Maximum stock percentage to be awarded			100.00%
Performance period for awards granted (in years)			3 years
Performance awards shares paid out			130,764	146,313
Restricted Stock Units [Member]
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Performance period for awards granted (in years)			1 year
Awards granted vesting period (in years)			2 years
Shares granted					78,585	84,413	95,047
Units granted vesting date					2,016	2,015	2,014
Shares vested					95,047
Cash-Settled Stock Appreciation Rights [Member]
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Weighted average contractual term (in years)			10 years
Weighted-average grant date fair value granted			$ 31.02
Intrinsic value of stock exercised	6.6	$ 0.7	$ 10	$ 4
Fair value of stock vested			4.2	$ 4.5
Unrecognized compensation cost related to non-vested award	$ 0.3		$ 0.3
Cost expected to be recognized over weighted-average period, in years			1 year 10 months 24 days
Shares granted	0	0	4,000
Shares vested			44,000
Restricted Stock [Member] | Non-employee Directors [Member]
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Shares granted			8,640		10,398
Stock-Settled SARs [Member]
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Number of shares available for future grants	0		0
Weighted-average grant date fair value granted			$ 25.36	$ 19.55
Intrinsic value of stock exercised	$ 0.4	$ 0	$ 0.7	$ 0.1
Fair value of stock vested			1.4	$ 0.6
Unrecognized compensation cost related to non-vested award	$ 4.1		$ 4.1
Cost expected to be recognized over weighted-average period, in years			1 year 10 months 24 days
Shares granted			112,000

Stock-Based Compensation and 76

Stock-Based Compensation and Other Stock Plans - Summary of Weighted-Average Assumptions of Fair Value Granted Using Black-Scholes Valuation Model (Detail)	3 Months Ended	6 Months Ended
	Jun. 28, 2014	Jul. 04, 2015	Jun. 28, 2014
Stock Option [Member]
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Expected term (in years)	3 years 5 months 19 days	4 years 9 months 4 days	4 years 6 months 7 days
Expected volatility factor	24.54%	24.13%	26.76%
Expected dividend yield	2.28%	2.04%	2.40%
Risk-free interest rate	0.89%	1.38%	1.30%
Stock-Settled SARs [Member]
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Expected term (in years)	3 years 5 months 19 days	4 years 8 months 19 days	4 years 5 months 27 days
Expected volatility factor	24.54%	23.67%	25.64%
Expected dividend yield	2.28%	2.04%	2.40%
Risk-free interest rate	0.89%	1.50%	1.50%
Cash-Settled Stock Appreciation Rights [Member]
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Expected term (in years)		3 years 7 months 13 days	4 years
Expected volatility factor		23.08%	24.15%
Expected dividend yield		1.85%	2.29%
Risk-free interest rate		1.01%	1.64%

Stock-Based Compensation and 77

Stock-Based Compensation and Other Stock Plans - Summary of Stock Option Activity (Detail) - Jul. 04, 2015 - Stock Option [Member] - USD ($) $ / shares in Units, shares in Thousands, $ in Millions	Total
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Shares, Outstanding at beginning of period	2,630
Shares, Granted	634
Shares, Exercised	(351)
Shares, Forfeited or expired	(18)
Shares, Outstanding at end of period	2,895
Shares, Exercisable at end of period	1,661
Exercise Price per Share, Outstanding at beginning of period	$ 71.13
Exercise Price per Share, Granted	144.69
Exercise Price per Share, Exercised	61.50
Exercise Price per Share, Forfeited or expired	113.09
Exercise Price per Share, Outstanding at end of period	88.15
Exercise Price per Share, Exercisable at end of period	$ 62.63
Remaining Contractual Term, Outstanding at end of period	7 years 2 months 12 days
Remaining Contractual Term, Exercisable at end of period	5 years 9 months 18 days
Aggregate Intrinsic Value, Outstanding at end of period	$ 210.3
Aggregate Intrinsic Value, Exercisable at end of period	$ 163

Stock-Based Compensation and 78

Stock-Based Compensation and Other Stock Plans - Summary of Changes in Non-Vested Awards (Detail) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended		6 Months Ended
	Jul. 04, 2015	Jun. 28, 2014	Jul. 04, 2015	Jun. 28, 2014
Nonvested Performance Shares [Member]
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Shares, at beginning of period			327,000
Shares, Granted			128,000
Shares, Vested			(2,000)
Shares, Cancellations and other			(9,000)
Shares, at end of period	444,000		444,000
Fair Value Price per Share, at beginning of period			$ 91.92
Fair Value Price per Share, Granted			139.06
Fair Value Price per Share, Vested			89.35
Fair Value Price per Share, Cancellations and other			89.04
Fair Value Price per Share, at end of period	$ 105.48		$ 105.48
Stock-Settled SARs [Member]
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Shares, at beginning of period			223,000
Shares, Granted			112,000
Shares, Exercised			(12,000)
Shares, Cancellations and other			(19,000)
Shares, at end of period	304,000		304,000
Shares, Exercisable at end of period	77,000		77,000
Exercise Price per Share, Outstanding at beginning of period			$ 94.90
Fair Value Price per Share, Granted			25.36	$ 19.55
Exercise Price per Share, Granted			144.69
Exercise Price per Share, Exercised			87.49
Exercise Price per Share, Forfeited or expired			92.85
Exercise Price per Share, Outstanding at end of period	$ 113.64		113.64
Exercise Price per Share, Exercisable at end of period			$ 89.84
Remaining Contractual Term, Outstanding at end of period			8 years 8 months 12 days
Remaining Contractual Term, Exercisable at end of period			8 years
Aggregate Intrinsic Value, Outstanding at end of period	$ 14.3		$ 14.3
Aggregate Intrinsic Value, Exercisable at end of period	$ 5.4		$ 5.4
Cash-Settled Stock Appreciation Rights [Member]
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Shares, at beginning of period			47,000
Shares, Granted	0	0	4,000
Shares, Vested			(44,000)
Shares, at end of period	7,000		7,000
Fair Value Price per Share, at beginning of period			$ 68.35
Fair Value Price per Share, Granted			31.02
Fair Value Price per Share, Vested			95.98
Fair Value Price per Share, at end of period	$ 44.92		$ 44.92

Earnings Per Share - Computatio

Earnings Per Share - Computation of Basic and Diluted Earnings Per Common Share (Detail) - shares	3 Months Ended		6 Months Ended
	Jul. 04, 2015	Jun. 28, 2014	Jul. 04, 2015	Jun. 28, 2014
Earnings Per Share [Abstract]
Weighted-average common shares outstanding	58,114,681	58,127,969	58,123,538	58,167,091
Effect of dilutive securities	991,763	870,507	982,338	870,775
Weighted-average common shares outstanding, assuming dilution	59,106,444	58,998,476	59,105,876	59,037,866

Earnings Per Share - Additional

Earnings Per Share - Additional Information (Detail) - shares	6 Months Ended
	Jul. 04, 2015	Jun. 28, 2014
Stock-Settled SARs [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Outstanding options or stock settled SARs	0	0

Commitments and Contingencies -

Commitments and Contingencies - Summary of Product Warranty Accrual Activity (Detail) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jul. 04, 2015	Jun. 28, 2014	Jul. 04, 2015	Jun. 28, 2014
Commitments and Contingencies Disclosure [Abstract]
Beginning of period	$ 17.1	$ 16.7	$ 17.3	$ 17
Additions	3.9	4	7.6	6.9
Usage	(3)	(3)	(6.9)	(6.2)
End of period	$ 18	$ 17.7	$ 18	$ 17.7

Other Income (Expense) - Net -

Other Income (Expense) - Net - Computation of Other Income (Expense) - Net (Detail) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jul. 04, 2015	Jun. 28, 2014	Jul. 04, 2015	Jun. 28, 2014
Other Income and Expenses [Abstract]
Interest income	$ 0.1	$ 0.1	$ 0.2	$ 0.2
Net foreign exchange gain (loss)	(0.7)	0.1	(1.5)	(0.1)
Other	(0.1)	0.1	(0.1)	0.1
Total other income (expense) - net	$ (0.7)	$ 0.3	$ (1.4)	$ 0.2

Accumulated Other Comprehensi83

Accumulated Other Comprehensive Income (Loss) - Net Changes in Accumulated OCI by Component, Net of Tax (Detail) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jul. 04, 2015	Jun. 28, 2014	Jul. 04, 2015	Jun. 28, 2014
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance	$ (339.2)	$ (36.9)	$ (248.2)	$ (44.8)
Other comprehensive income (loss) before reclassifications	30.7	(3.2)	(65.6)	1.5
Amounts reclassified from Accumulated OCI	6.5	3.6	11.8	6.8
Net other comprehensive income (loss)	37.2	0.4	(53.8)	8.3
Ending balance	(302)	(36.5)	(302)	(36.5)
Foreign Currency Translation [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance	(104)	125.8	(7.7)	121.1
Other comprehensive income (loss) before reclassifications	30.7	(3.2)	(65.6)	1.5
Net other comprehensive income (loss)	30.7	(3.2)	(65.6)	1.5
Ending balance	(73.3)	122.6	(73.3)	122.6
Cash Flow Hedges [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance	0.9	1.2	1	1.3
Amounts reclassified from Accumulated OCI	(0.1)	(0.1)	(0.2)	(0.2)
Net other comprehensive income (loss)	(0.1)	(0.1)	(0.2)	(0.2)
Ending balance	0.8	1.1	0.8	1.1
Defined Benefit Pension and Postretirement Plans [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance	(236.1)	(163.9)	(241.5)	(167.2)
Amounts reclassified from Accumulated OCI	6.6	3.7	12	7
Net other comprehensive income (loss)	6.6	3.7	12	7
Ending balance	$ (229.5)	$ (160.2)	$ (229.5)	$ (160.2)

Accumulated Other Comprehensi84

Accumulated Other Comprehensive Income (Loss) - Reclassifications Out of Accumulated OCI (Detail) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jul. 04, 2015	Jun. 28, 2014	Jul. 04, 2015	Jun. 28, 2014
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Amortization of net unrecognized losses and prior service credits	$ (10.4)	$ (5.8)	$ (19.2)	$ (11)
Interest expense	12.9	12.7	25.9	26.4
Income tax expense	56.2	51.9	108	96.2
Amounts reclassified from Accumulated OCI, Net of tax	(6.5)	(3.6)	(11.8)	(6.8)
Reclassification out of AOCI [Member]
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Amounts reclassified from Accumulated OCI, Net of tax	(6.5)	(3.6)	(11.8)	(6.8)
Cash Flow Hedges [Member]
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Amounts reclassified from Accumulated OCI, Net of tax	0.1	0.1	0.2	0.2
Cash Flow Hedges [Member] | Reclassification out of AOCI [Member]
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Amounts reclassified from Accumulated OCI, Net of tax	0.1	0.1	0.2	0.2
Defined Benefit Pension and Postretirement Plans [Member]
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Amounts reclassified from Accumulated OCI, Net of tax	(6.6)	(3.7)	(12)	(7)
Defined Benefit Pension and Postretirement Plans [Member] | Reclassification out of AOCI [Member]
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Amortization of net unrecognized losses and prior service credits	(10.4)	(5.8)	(19.2)	(11)
Income tax expense	3.8	2.1	7.2	4
Amounts reclassified from Accumulated OCI, Net of tax	(6.6)	(3.7)	(12)	(7)
Treasury Locks [Member] | Cash Flow Hedges [Member] | Reclassification out of AOCI [Member]
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Interest expense	$ 0.1	$ 0.1	$ 0.2	$ 0.2

Segments - Net Sales by Segment

Segments - Net Sales by Segment (Detail) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jul. 04, 2015	Jun. 28, 2014	Jul. 04, 2015	Jun. 28, 2014
Segment Reporting Information [Line Items]
Net sales	$ 851.8	$ 826.5	$ 1,679.6	$ 1,614
Financial services revenue	58.7	51.7	116.1	101.9
Total revenues	910.5	878.2	1,795.7	1,715.9
Operating earnings	192.2	172.9	370.4	329
Interest expense	(12.9)	(12.7)	(25.9)	(26.4)
Other income (expense) - net	(0.7)	0.3	(1.4)	0.2
Earnings before income taxes and equity earnings	178.6	160.5	343.1	302.8
Operating Segments [Member]
Segment Reporting Information [Line Items]
Net sales	971.9	934.8	1,919.9	1,831.7
Operating earnings	219.3	198.1	427.3	378.9
Operating Segments [Member] | Commercial & Industrial Group [Member]
Segment Reporting Information [Line Items]
Net sales	295.8	287.2	593.3	577.8
Operating earnings	42.2	38.2	86.2	77.3
Operating Segments [Member] | Snap-on Tools Group [Member]
Segment Reporting Information [Line Items]
Net sales	398.7	369.1	776.9	712.7
Operating earnings	68	60.5	127.8	109.7
Operating Segments [Member] | Repair Systems & Information Group [Member]
Segment Reporting Information [Line Items]
Net sales	277.4	278.5	549.7	541.2
Operating earnings	67.7	64.6	131.6	122.7
Operating Segments [Member] | Financial Services [Member]
Segment Reporting Information [Line Items]
Operating earnings	41.4	34.8	81.7	69.2
Intersegment Eliminations [Member]
Segment Reporting Information [Line Items]
Net sales	(120.1)	(108.3)	(240.3)	(217.7)
Corporate [Member]
Segment Reporting Information [Line Items]
Operating earnings	$ (27.1)	$ (25.2)	$ (56.9)	$ (49.9)

Segments - Assets by Segment (D

Segments - Assets by Segment (Detail) - USD ($) $ in Millions	Jul. 04, 2015	Jan. 03, 2015
Segment Reporting Information [Line Items]
Assets	$ 4,390.7	$ 4,310.1
Operating Segments [Member]
Segment Reporting Information [Line Items]
Assets	4,059.1	3,944.9
Operating Segments [Member] | Commercial & Industrial Group [Member]
Segment Reporting Information [Line Items]
Assets	931.6	939.7
Operating Segments [Member] | Snap-on Tools Group [Member]
Segment Reporting Information [Line Items]
Assets	637.3	600.1
Operating Segments [Member] | Repair Systems & Information Group [Member]
Segment Reporting Information [Line Items]
Assets	1,037.6	1,036.8
Operating Segments [Member] | Financial Services [Member]
Segment Reporting Information [Line Items]
Assets	1,452.6	1,368.3
Corporate [Member]
Segment Reporting Information [Line Items]
Assets	378.8	401.7
Intersegment Eliminations [Member]
Segment Reporting Information [Line Items]
Assets	$ (47.2)	$ (36.5)