Receivables (Tables)
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9 Months Ended |
Oct. 03, 2026 |
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| Receivables [Abstract] |
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| Schedule of Components of Trade and Other Accounts Receivable |
The components of Snap-on’s trade and other accounts receivable as of October 3, 2026, and January 3, 2026, are as follows:
| | | | | | | | | | | | | (Amounts in millions) | October 3,
2026 | | January 3, 2026 | | Trade and other accounts receivable | $ | 963.5 | | | $ | 921.8 | | | Allowances for credit losses | (41.4) | | | (40.4) | | | Total trade and other accounts receivable – net | $ | 922.1 | | | $ | 881.4 | |
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| Schedule of Rollforward of Allowances for Credit Losses Related to Trade and Other Accounts Receivable |
The following is a rollforward of the allowances for credit losses related to trade and other accounts receivable for the three and nine month periods ended October 3, 2026, and September 27, 2025: | | | | | | | | | | | | | | | | | | | | | | | | | Three Months Ended | | Nine Months Ended | | (Amounts in millions) | October 3,
2026 | | September 27,
2025 | | October 3,
2026 | | September 27,
2025 | | Allowances for credit losses: | | | | | | | | | Beginning of period | $ | 44.5 | | | $ | 40.3 | | | $ | 40.4 | | | $ | 37.1 | | | Provisions for credit losses | 7.0 | | | 5.0 | | | 19.7 | | | 13.1 | | Charge-offs | (10.2) | | | (4.1) | | | (18.7) | | | (10.4) | | Recoveries | 0.1 | | | — | | | 0.2 | | | 0.4 | | Currency translation | — | | | — | | | (0.2) | | | 1.0 | | | End of period | $ | 41.4 | | | $ | 41.2 | | | $ | 41.4 | | | $ | 41.2 | |
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| Schedule of Components of Finance and Contract Receivables, Current and Beyond One Year |
The components of Snap-on’s current finance and contract receivables as of October 3, 2026, and January 3, 2026, are as follows:
| | | | | | | | | | | | | (Amounts in millions) | October 3,
2026 | | January 3, 2026 | | Finance installment receivables | $ | 586.6 | | | $ | 588.0 | | Finance lease receivables, net of unearned finance charges of $10.0 million and $9.2 million, respectively | 27.3 | | | 25.0 | | | Total finance receivables | 613.9 | | | 613.0 | | | | | | | Contract installment receivables | 70.0 | | | 69.6 | | Contract lease receivables, net of unearned finance charges of $20.3 million and $21.4 million, respectively | 60.6 | | | 62.4 | | | Total contract receivables | 130.6 | | | 132.0 | | | Total | 744.5 | | | 745.0 | | | | | | | Allowances for credit losses: | | | | | Finance installment receivables | (22.8) | | | (22.3) | | | Finance lease receivables | (0.5) | | | (0.5) | | | Total finance allowances for credit losses | (23.3) | | | (22.8) | | | | | | | Contract installment receivables | (1.1) | | | (1.0) | | | Contract lease receivables | (0.8) | | | (1.0) | | | Total contract allowances for credit losses | (1.9) | | | (2.0) | | | Total allowances for credit losses | (25.2) | | | (24.8) | | | Total current finance and contract receivables – net | $ | 719.3 | | | $ | 720.2 | | | | | | | Finance receivables – net | $ | 590.6 | | | $ | 590.2 | | | Contract receivables – net | 128.7 | | | 130.0 | | | Total current finance and contract receivables – net | $ | 719.3 | | | $ | 720.2 | |
The components of Snap-on’s finance and contract receivables with payment terms beyond one year as of October 3, 2026, and January 3, 2026, are as follows:
| | | | | | | | | | | | | (Amounts in millions) | October 3,
2026 | | January 3, 2026 | | Finance installment receivables | $ | 1,278.1 | | | $ | 1,313.8 | | Finance lease receivables, net of unearned finance charges of $9.5 million and $8.4 million, respectively | 39.6 | | | 35.7 | | | Total finance receivables | 1,317.7 | | | 1,349.5 | | | | | | | Contract installment receivables | 226.7 | | | 232.2 | | Contract lease receivables, net of unearned finance charges of $32.2 million and $34.7 million, respectively | 184.9 | | | 196.2 | | | Total contract receivables | 411.6 | | | 428.4 | | | Total | 1,729.3 | | | 1,777.9 | | | | | | | Allowances for credit losses: | | | | | Finance installment receivables | (49.7) | | | (50.1) | | | Finance lease receivables | (0.7) | | | (0.6) | | | Total finance allowances for credit losses | (50.4) | | | (50.7) | | | | | | | Contract installment receivables | (3.1) | | | (3.2) | | | Contract lease receivables | (1.9) | | | (2.1) | | | Total contract allowances for credit losses | (5.0) | | | (5.3) | | | Total allowances for credit losses | (55.4) | | | (56.0) | | | Total long-term finance and contract receivables – net | $ | 1,673.9 | | | $ | 1,721.9 | | | | | | | Finance receivables – net | $ | 1,267.3 | | | $ | 1,298.8 | | | Contract receivables – net | 406.6 | | | 423.1 | | | Total long-term finance and contract receivables – net | $ | 1,673.9 | | | $ | 1,721.9 | |
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| Schedule of Amortized Cost Basis of Finance and Contract Receivables |
The amortized cost basis of finance and contract receivables by origination year as of October 3, 2026, and charge-offs recorded in the nine months ended October 3, 2026, by origination year, are as follows:
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | (Amounts in millions) | 2026 | | 2025 | | 2024 | | 2023 | | 2022 | | Prior | | Total | | Finance receivables: | | | | | | | | | | | | | | | Delinquent | $ | 12.1 | | | $ | 26.3 | | | $ | 16.7 | | | $ | 8.5 | | | $ | 3.0 | | | $ | 1.0 | | | $ | 67.6 | | | Non-delinquent | 1,009.5 | | | 517.7 | | | 222.5 | | | 87.9 | | | 22.9 | | | 3.5 | | | 1,864.0 | | | Total finance receivables | $ | 1,021.6 | | | $ | 544.0 | | | $ | 239.2 | | | $ | 96.4 | | | $ | 25.9 | | | $ | 4.5 | | | $ | 1,931.6 | | | | | | | | | | | | | | | | | Finance receivables charge-offs | $ | 1.8 | | | $ | 24.2 | | | $ | 18.7 | | | $ | 9.9 | | | $ | 3.7 | | | $ | 1.8 | | | $ | 60.1 | | | | | | | | | | | | | | | | | Contract receivables: | | | | | | | | | | | | | | | Delinquent | $ | 0.3 | | | $ | 0.4 | | | $ | 0.8 | | | $ | 0.5 | | | $ | 0.5 | | | $ | 0.4 | | | $ | 2.9 | | | Non-delinquent | 143.6 | | | 137.9 | | | 107.9 | | | 68.5 | | | 39.5 | | | 41.9 | | | 539.3 | | | Total contract receivables | $ | 143.9 | | | $ | 138.3 | | | $ | 108.7 | | | $ | 69.0 | | | $ | 40.0 | | | $ | 42.3 | | | $ | 542.2 | | | | | | | | | | | | | | | | | Contract receivables charge-offs | $ | — | | | $ | 0.3 | | | $ | 0.7 | | | $ | 0.9 | | | $ | 0.6 | | | $ | 0.3 | | | $ | 2.8 | |
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| Schedule of 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 nine month periods ended October 3, 2026, and September 27, 2025: | | | | | | | | | | | | | | | | | | | | | | | | | Three Months Ended
October 3, 2026 | | Nine Months Ended
October 3, 2026 | | (Amounts in millions) | Finance
Receivables | | Contract
Receivables | | Finance
Receivables | | Contract
Receivables | | Allowances for credit losses: | | | | | | | | | Beginning of period | $ | 74.1 | | | $ | 6.9 | | | $ | 73.5 | | | $ | 7.3 | | | Provisions for credit losses | 15.2 | | | 0.9 | | | 50.8 | | | 2.1 | | | Charge-offs | (18.8) | | | (1.1) | | | (60.1) | | | (2.8) | | | Recoveries | 3.2 | | | 0.2 | | | 9.5 | | | 0.4 | | | Currency translation | — | | | — | | | — | | | (0.1) | | | End of period | $ | 73.7 | | | $ | 6.9 | | | $ | 73.7 | | | $ | 6.9 | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | Three Months Ended
September 27, 2025 | | Nine Months Ended
September 27, 2025 | | (Amounts in millions) | Finance
Receivables | | Contract
Receivables | | Finance
Receivables | | Contract
Receivables | | Allowances for credit losses: | | | | | | | | | Beginning of period | $ | 74.0 | | | $ | 7.4 | | | $ | 72.4 | | | $ | 6.8 | | | Provisions for credit losses | 17.8 | | | 0.6 | | | 54.3 | | | 2.2 | | | Charge-offs | (20.1) | | | (0.8) | | | (60.6) | | | (2.2) | | | Recoveries | 2.7 | | | 0.2 | | | 8.0 | | | 0.5 | | | Currency translation | — | | | — | | | 0.3 | | | 0.1 | | | End of period | $ | 74.4 | | | $ | 7.4 | | | $ | 74.4 | | | $ | 7.4 | | | | | | | | | |
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| Schedule of Aging of Finance and Contract Receivables |
The aging of finance and contract receivables as of October 3, 2026, and January 3, 2026, is as follows: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | (Amounts in millions) | 30-59
Days Past
Due | | 60-90
Days Past
Due | | Greater
Than 90
Days Past
Due | | Total Past
Due | | Total Not
Past Due | | Total | | Greater
Than 90
Days Past
Due and
Accruing | | October 3, 2026: | | | | | | | | | | | | | | | Finance receivables | $ | 24.8 | | | $ | 15.2 | | | $ | 27.6 | | | $ | 67.6 | | | $ | 1,864.0 | | | $ | 1,931.6 | | | $ | 23.3 | | | Contract receivables | 1.0 | | | 0.6 | | | 1.3 | | | 2.9 | | | 539.3 | | | 542.2 | | | 0.4 | | | | | | | | | | | | | | | | | January 3, 2026: | | | | | | | | | | | | | | | Finance receivables | $ | 25.6 | | | $ | 15.7 | | | $ | 27.9 | | | $ | 69.2 | | | $ | 1,893.3 | | | $ | 1,962.5 | | | $ | 23.7 | | | Contract receivables | 1.4 | | | 0.7 | | | 1.4 | | | 3.5 | | | 556.9 | | | 560.4 | | | 0.4 | |
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| Schedule of Finance and Contract Receivables on Nonaccrual Status |
The amount of finance and contract receivables on nonaccrual status as of October 3, 2026, and January 3, 2026, is as follows:
| | | | | | | | | | | | | (Amounts in millions) | October 3,
2026 | | January 3, 2026 | | Finance receivables | $ | 14.0 | | | $ | 13.1 | | | Contract receivables | 2.3 | | | 2.6 | |
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