Acquisitions |
6 Months Ended |
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Jul. 04, 2026 | |
| Business Combination, Asset Acquisition, Transaction between Entities under Common Control, and Joint Venture Formation [Abstract] | |
| Acquisitions | Acquisitions On June 8, 2026, Snap-on acquired Diesel Laptops, LLC (“Diesel Laptops”) for a preliminary cash purchase price of $99.7 million (or $99.1 million, net of cash acquired). The preliminary purchase price is subject to change based on the finalization of a working capital adjustment that is expected to be completed in the third quarter of 2026. Diesel Laptops, based in Irmo, South Carolina, specializes in diagnostics, repair information, and digital solutions for commercial trucks and off-highway vehicles serving heavy-duty repair shops, fleets, and other equipment customers such as those in mining, agriculture, and infrastructure. In the second quarter of 2026, the company recorded, on a preliminary basis, the $97.0 million excess of the purchase price over the fair value of the net assets acquired in “Goodwill” on the accompanying Condensed Consolidated Balance Sheets. The company does not expect that the goodwill will be tax deductible. The company anticipates completing the purchase accounting for the acquired net assets of Diesel Laptops in the second half of 2026. For segment reporting purposes, the results of operations and assets of Diesel Laptops have been included in the Repair Systems & Information Group since the acquisition date. On April 30, 2026, Snap-on acquired Hi-Force Group Holdings Ltd. (“Hi-Force”) for a preliminary cash purchase price of $58.0 million (or $54.9 million, net of cash acquired). The preliminary purchase price is subject to change based on the finalization of a working capital adjustment that is expected to be completed in the third quarter of 2026. Hi-Force, based in Daventry, United Kingdom, designs and manufactures high-pressure hydraulic tools, heavy lifting systems, as well as torque and tensioning equipment. In the second quarter of 2026, the company recorded, on a preliminary basis, the $37.7 million excess of the purchase price over the fair value of the net assets acquired in “Goodwill” on the accompanying Condensed Consolidated Balance Sheets. The company does not expect that the goodwill will be tax deductible. The company anticipates completing the purchase accounting for the acquired net assets of Hi-Force in the second half of 2026. For segment reporting purposes, the results of operations and assets of Hi-Force have been included in the Commercial & Industrial Group since the acquisition date. On February 3, 2026, Snap-on acquired certain assets of Car-O-Liner Australia Pty Ltd (“Car-O-Liner Australia”), a former independent distributor, for a cash purchase price of $5.1 million. Car-O-Liner Australia, based in Unanderra, Australia, distributes and services vehicle collision equipment in Australia. The company completed the purchase accounting for the acquired net assets of Car-O-Liner Australia in the second quarter of 2026. The $2.1 million excess of the purchase price over the fair value of the net assets acquired is recorded in “Goodwill” on the accompanying Condensed Consolidated Balance Sheets. The company does not expect that the goodwill will be tax deductible. For segment reporting purposes, the results of operations and assets of Car-O-Liner Australia have been included in the Commercial & Industrial Group since the acquisition date. Pro forma financial information has not been presented for the acquisitions as the net effects were not significant to Snap-on’s results of operations or financial position. See Note 6 for additional information on goodwill and other intangible assets.
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