Snap-on (SNA) 10-K13 Feb 202019 FY Annual reportFinancial data

Company Profile

Cover

Cover - USD ($) $ in Billions	12 Months Ended
Cover - USD ($) $ in Billions	Dec. 28, 2019	Feb. 07, 2020	Jun. 28, 2019
Cover page.
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 28, 2019
Document Transition Report	false
Entity Registrant Name	Snap-on Inc
Entity File Number	1-7724
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	39-0622040
Entity Address, Address Line One	2801 80th Street
Entity Address, City or Town	Kenosha
Entity Address, State or Province	WI
Entity Address, Postal Zip Code	53143
City Area Code	262
Local Phone Number	656-5200
Title of 12(b) Security	Common Stock, $1.00 par value
Trading Symbol	SNA
Security Exchange Name	NYSE
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Public Float			$ 9
Entity common stock, shares outstanding (in shares)		54,659,446
Documents Incorporated by Reference	Part III of this Annual Report on Form 10-K incorporates by reference certain information that will be set forth in Snap-on’s Proxy Statement, which is expected to first be mailed to shareholders on or about March 11, 2020, prepared for the Annual Meeting of Shareholders scheduled for April 23, 2020.
Amendment Flag	false
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	FY
Entity Central Index Key	0000091440
Current Fiscal Year End Date	--12-28

Consolidated Statements of Earn

Consolidated Statements of Earnings - USD ($) shares in Millions, $ in Millions	12 Months Ended
	Dec. 28, 2019	Dec. 29, 2018	Dec. 30, 2017
Net sales	$ 4,067.7	$ 4,070.4	$ 4,000.3
Operating earnings	962.3	956.1	882.1
Interest expense	(49)	(50.4)	(52.4)
Other income (expense) – net	8.8	4.2	(7.8)
Earnings before income taxes and equity earnings	922.1	909.9	821.9
Income tax expense	(211.8)	(214.4)	(250.9)
Earnings before equity earnings	710.3	695.5	571
Equity earnings, net of tax	0.9	0.7	1.2
Net earnings	711.2	696.2	572.2
Net earnings attributable to noncontrolling interests	(17.7)	(16.3)	(14.5)
Net earnings attributable to Snap-on Incorporated	$ 693.5	$ 679.9	$ 557.7
Net earnings per share attributable to Snap-on Incorporated:
Basic (in dollars per share)	$ 12.59	$ 12.08	$ 9.72
Diluted (in dollars per share)	$ 12.41	$ 11.87	$ 9.52
Weighted-average shares outstanding:
Basic (in shares)	55.1	56.3	57.4
Effect of dilutive securities (in shares)	0.8	1	1.2
Diluted (in shares)	55.9	57.3	58.6
Product And Services, Excluding Financial Services
Net sales	$ 3,730	$ 3,740.7	$ 3,686.9
Cost of goods sold	(1,886)	(1,870.7)	(1,861)
Gross profit	1,844	1,870	1,825.9
Operating expenses	(1,127.6)	(1,144)	(1,161.3)
Operating earnings	716.4	726	664.6
Financial Service
Net sales	337.7	329.7	313.4
Cost of goods sold	(91.8)	(99.6)	(95.9)
Operating earnings	$ 245.9	$ 230.1	$ 217.5

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Millions		12 Months Ended
		Dec. 28, 2019	Dec. 29, 2018	Dec. 30, 2017
Comprehensive income (loss):
Net earnings		$ 711.2	$ 696.2	$ 572.2
Other comprehensive income (loss):
Foreign currency translation	[1]	(9.5)	(95.4)	135.2
Unrealized cash flow hedges, net of tax:
Other comprehensive income (loss) before reclassifications		0
Other comprehensive income (loss) before reclassifications			(0.8)	6.9
Reclassification of cash flow hedges to net earnings		(1.5)
Reclassification of cash flow hedges to net earnings			(1.5)	(1.6)
Defined benefit pension and postretirement plans:
Net prior service costs and credits and unrecognized (loss) gain		(6.7)	(79)	15.9
Income tax (expense) benefit		0.2	20	(4.1)
Net of tax		(6.5)	(59)	11.8
Amortization of net prior service costs and credits and unrecognized loss included in net periodic benefit cost		23.5	31.1	26.6
Income tax benefit		(5.8)	(7.6)	(9.4)
Net of tax		17.7	23.5	17.2
Total comprehensive income		711.4	563	741.7
Comprehensive income attributable to noncontrolling interests		(17.7)	(16.3)	(14.5)
Comprehensive income attributable to Snap-on Incorporated		$ 693.7	$ 546.7	$ 727.2

[1]	There is no reclassification adjustment as there was no sale or liquidation of any foreign entity during any period presented.

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Millions	Dec. 28, 2019	Dec. 29, 2018
Current assets:
Cash and cash equivalents	$ 184.5	$ 140.9
Trade and other accounts receivable – net	694.6	692.6
Finance and contract receivables, current, net	630.8	616.8
Inventories – net	760.4	673.8
Prepaid expenses and other assets	110.2	92.8
Total current assets	2,380.5	2,216.9
Property and equipment – net	521.5
Property and equipment - net		495.1
Operating lease right-of-use assets	55.6
Deferred income tax assets	52.3	64.7
Finance an contract receivable, net, non-current	1,463.6	1,419.3
Goodwill	913.8	902.2
Other intangibles – net	243.9	232.9
Other assets	62.3	42
Total assets	5,693.5	5,373.1
Current liabilities:
Notes payable	202.9	186.3
Accounts payable	198.5	201.1
Accrued benefits	53.3	52
Accrued compensation	53.9	71.5
Franchisee deposits	68.2	67.5
Other accrued liabilities	370.8	373.6
Total current liabilities	947.6	952
Long-term debt	946.9	946
Deferred income tax liabilities	69.3	41.4
Retiree health care benefits	33.6	31.8
Pension liabilities	122.1	171.3
Operating lease liabilities	37.5
Other long-term liabilities	105.7	112
Total liabilities	2,262.7	2,254.5
Commitments and contingencies (Note 15)
Shareholders’ equity attributable to Snap-on Incorporated:
Preferred stock (authorized 15,000,000 shares of $1 par value; none outstanding)	0	0
Common stock (authorized 250,000,000 shares of $1 par value; issued 67,423,106 and 67,415,091 shares, respectively)	67.4	67.4
Additional paid-in capital	379.1	359.4
Retained earnings	4,779.7	4,257.6
Accumulated other comprehensive loss	(507.9)	(462.2)
Treasury stock at cost (12,772,882 and 11,804,310 shares, respectively)	(1,309.2)	(1,123.4)
Total shareholders’ equity attributable to Snap-on Incorporated	3,409.1	3,098.8
Noncontrolling interests	21.7	19.8
Total equity	3,430.8	3,118.6
Total liabilities and equity	5,693.5	5,373.1
Finance Receivables
Current assets:
Finance and contract receivables, current, net	530.1	518.5
Finance an contract receivable, net, non-current	1,103.5	1,074.4
Contract Receivables
Current assets:
Finance and contract receivables, current, net	100.7	98.3
Finance an contract receivable, net, non-current	$ 360.1	$ 344.9

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - $ / shares	Dec. 28, 2019	Dec. 29, 2018
Statement of Financial Position [Abstract]
Preferred stock, shares authorized (in shares)	15,000,000	15,000,000
Preferred stock, par value (in dollars per share)	$ 1	$ 1
Preferred stock, shares outstanding (in shares)	0	0
Common stock, shares authorized (in shares)	250,000,000	250,000,000
Common stock, par value (in dollars per share)	$ 1	$ 1
Common stock, shares issued (in shares)	67,423,106	67,415,091
Treasury stock shares at cost (in shares)	12,772,882	11,804,310

Consolidated Statements of Equi

Consolidated Statements of Equity - USD ($) $ in Millions	Total	Common Stock	Additional Paid-in Capital	Retained Earnings	Accumulated Other Comprehensive Income (Loss)	Treasury Stock	Noncontrolling Interests
Beginning balance at Dec. 31, 2016	$ 2,635.2	$ 67.4	$ 317.3	$ 3,384.9	$ (498.5)	$ (653.9)	$ 18
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net earnings	572.2			557.7			14.5
Other comprehensive income (loss)	169.5				169.5
Cash dividends	(169.4)			(169.4)
Stock compensation plans	67.7		25.9			41.8
Share repurchases	(287.9)					(287.9)
Other	(15)			(0.9)			(14.1)
Ending balance at Dec. 30, 2017	2,972.3	67.4	343.2	3,772.3	(329)	(900)	18.4
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net earnings	696.2			679.9			16.3
Other comprehensive income (loss)	(133.2)				(133.2)
Cash dividends	(192)			(192)
Stock compensation plans	76.9		16.2			60.7
Share repurchases	(284.1)					(284.1)
Other	(17.5)			(2.6)			(14.9)
Ending balance at Dec. 29, 2018	3,118.6	67.4	359.4	4,257.6	(462.2)	(1,123.4)	19.8
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Impact of the Tax Act on Accumulated Other Comprehensive Income (ASU No. 2018-02)	45.9			45.9	(45.9)
Ending balance at Dec. 30, 2018	3,118.6	67.4	359.4	4,303.5	(508.1)	(1,123.4)	19.8
Beginning balance at Dec. 29, 2018	3,118.6	67.4	359.4	4,257.6	(462.2)	(1,123.4)	19.8
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net earnings	711.2			693.5			17.7
Other comprehensive income (loss)	0.2				0.2
Cash dividends	(216.6)			(216.6)
Stock compensation plans	72.3		19.7			52.6
Share repurchases	(238.4)					(238.4)
Other	(16.5)			(0.7)			(15.8)
Ending balance at Dec. 28, 2019	$ 3,430.8	$ 67.4	$ 379.1	$ 4,779.7	$ (507.9)	$ (1,309.2)	$ 21.7

Consolidated Statements of Eq_2

Consolidated Statements of Equity (Parenthetical) - $ / shares	12 Months Ended
	Dec. 28, 2019	Dec. 29, 2018	Dec. 30, 2017
Statement of Stockholders' Equity [Abstract]
Cash dividends per share (in dollars per share)	$ 3.93	$ 3.41	$ 2.95
Share repurchases (in shares)	1,495,000	1,769,000	1,820,000

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Millions	12 Months Ended
	Dec. 28, 2019	Dec. 29, 2018	Dec. 30, 2017
Operating activities:
Net earnings	$ 711.2	$ 696.2	$ 572.2
Adjustments to reconcile net earnings to net cash provided (used) by operating activities:
Depreciation	70.1	68.8	65.6
Amortization of other intangibles	22.3	25.3	27.6
Provision for losses on finance receivables	49.9	57.5	54.6
Provision for losses on non-finance receivables	18.3	12.8	10.5
Stock-based compensation expense	23.8	27.2	30.3
Deferred income tax provision	34.2	13.7	12.3
Loss (gain) on sales of assets	0.9	0.5	(0.2)
Settlement of treasury lock	0	0	14.9
Loss on early extinguishment of debt	0	7.8	0
Changes in operating assets and liabilities, net of effects of acquisitions:
Trade and other accounts receivable	(15.7)	(47.7)	(55.5)
Contract receivables	(20.9)	(30.9)	(41.8)
Inventories	(97)	(38.6)	(76)
Prepaid and other assets	(22.2)	10.4	(10)
Accounts payable	(2.6)	27.5	(2.2)
Accruals and other liabilities	(97.7)	(66)	6.2
Net cash provided by operating activities	674.6	764.5	608.5
Investing activities:
Additions to finance receivables	(841.9)	(865.6)	(892)
Collections of finance receivables	754.3	747.7	712.7
Capital expenditures	(99.4)	(90.9)	(82)
Acquisitions of businesses, net of cash acquired	(38.6)	(3)	(82.9)
Disposals of property and equipment	1.7	0.7	1.5
Other	1.8	0.9	1.3
Net cash used by investing activities	(222.1)	(210.2)	(341.4)
Financing activities:
Proceeds from issuance of long-term debt	0	395.4	297.8
Repayments of long-term debt	0	(457.8)	(150)
Proceeds from notes payable	0	0	16.8
Repayments of notes payable	0	(16.8)	(4.5)
Net increase in other short-term borrowings	17.6	21.7	18.3
Cash dividends paid	(216.6)	(192)	(169.4)
Purchases of treasury stock	(238.4)	(284.1)	(287.9)
Proceeds from stock purchase and option plans	51.4	55.5	46.2
Other	(23.4)	(24.1)	(23.4)
Net cash used by financing activities	(409.4)	(502.2)	(256.1)
Effect of exchange rate changes on cash and cash equivalents	0.5	(3.2)	3.4
Increase in cash and cash equivalents	43.6	48.9	14.4
Cash and cash equivalents at beginning of year	140.9	92	77.6
Cash and cash equivalents at end of year	184.5	140.9	92
Supplemental cash flow disclosures:
Cash paid for interest	(46.3)	(51.5)	(51.2)
Net cash paid for income taxes	$ (191.2)	$ (188)	$ (228.1)

Summary of Accounting Policies

Summary of Accounting Policies	12 Months Ended
Summary of Accounting Policies	Dec. 28, 2019
Accounting Policies [Abstract]
Summary of Accounting Policies	Summary of Accounting Policies Principles of consolidation and presentation: The Consolidated Financial Statements include the accounts of Snap-on Incorporated and its wholly-owned and majority-owned subsidiaries (collectively, “Snap-on” or “the company”). Snap-on accounts for investments in unconsolidated affiliates where Snap-on has a non-significant ownership interest under the equity method of accounting. Investments in unconsolidated affiliates of $18.8 million as of December 28, 2019, and $18.5 million as of December 29, 2018, are included in “Other assets” on the accompanying Consolidated Balance Sheets; no equity investment dividends were received in any period presented. In the normal course of business, the company may purchase products or services from, or sell products or services to, unconsolidated affiliates. Purchases from unconsolidated affiliates were $10.4 million, $11.2 million and $11.6 million in 2019, 2018 and 2017, respectively, and sales to unconsolidated affiliates were $0.6 million in 2019, $0.8 million in 2018 and $0.5 million in 2017. The Consolidated Financial Statements do not include the accounts of the company’s independent franchisees. Snap-on’s Consolidated Financial Statements are prepared in conformity with generally accepted accounting principles in the United States of America (“GAAP”). Intercompany accounts and transactions have been eliminated. Fiscal year accounting period: Snap-on’s fiscal year ends on the Saturday that is on or nearest to December 31. The 2019 fiscal year ended on December 28, 2019 (“2019”). The 2018 fiscal year ended on December 29, 2018 (“2018”). The 2017 fiscal year ended on December 30, 2017 (“2017”). The 2019, 2018 and 2017 fiscal years each contained 52 weeks of operating results. Use of estimates: The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Financial instruments: The fair value of the company’s derivative financial instruments is generally determined using quoted prices in active markets for similar assets and liabilities. The carrying value of the company’s non-derivative financial instruments either approximates fair value, due to their short-term nature, or the amount disclosed for fair value is based upon a discounted cash flow analysis or quoted market values. See Note 10 for further information on financial instruments. Revenue recognition: Snap-on recognizes revenue from the sale of tools, diagnostic and equipment products and related services based on when control of the product passes to the customer or the service is provided and is recognized at an amount that reflects the consideration expected to be received in exchange for such goods or services. See Note 2 for information on revenue recognition. Financial services revenue: Snap-on also generates revenue from various financing programs that include: (i) installment sales and lease contracts arising from franchisees’ customers and Snap-on customers who require financing for the purchase or lease of tools and diagnostic and equipment products on an extended-term payment plan; and (ii) business loans and vehicle leases to franchisees. These financing programs are offered through Snap-on’s wholly owned finance subsidiaries. Financial services revenue consists primarily of interest income on finance and contract receivables and is recognized over the life of the underlying contracts, with interest computed primarily on the average daily balances of the underlying contracts. The decision to finance through Snap-on or another financing source is solely at the election of the customer. When assessing customers for potential financing, Snap-on considers various factors regarding ability to pay, including the customers’ financial condition, debt-servicing ability, past payment experience, and credit bureau and proprietary Snap-on credit model information, as well as the value of the underlying collateral. For finance receivables, Snap-on assesses these factors through the use of credit quality indicators consisting primarily of customer credit risk scores combined with internal credit risk grades, collection experience, franchise input and other internal metrics. For contract receivables, Snap-on assesses these factors through the use of credit quality indicators consisting primarily of customer credit risk scores combined with internal credit risk grades, collection experience and other internal metrics. Financial services lease arrangements: Snap-on accounts for its financial services leases as sales-type leases. The company recognizes the net investment in the lease as the present value of the lease payments not yet received plus the present value of the unguaranteed residual value, using the interest rate implicit in the lease. The difference between the undiscounted lease payments received over the lease term and the related net investment in the lease is reported as unearned finance charges. Unearned finance charges are amortized to income over the life of the contract. The default covenants included in the lease arrangements are usual and customary, consistent with industry practice, and do not impact the lease classification. Except in circumstances where the company has concluded that a lessee’s financial condition has deteriorated, the other default covenants under Snap-on’s lease arrangements are objectively determinable. See Notes 4 and 16 for further information on finance and contract receivables and lessor accounting. Research and engineering: Snap-on incurred research and engineering costs of $59.1 million, $61.2 million and $60.9 million in 2019, 2018 and 2017, respectively. Research and engineering costs are included in “Operating expenses” on the accompanying Consolidated Statements of Earnings. Internally developed software: Costs incurred in the development of software that will ultimately be sold are capitalized from the time technological feasibility has been attained and capitalization ceases when the related product is ready for general release. During 2019, 2018 and 2017, Snap-on capitalized $12.6 million, $9.7 million and $11.3 million, respectively, of such costs. Amortization of capitalized software development costs, which is included in “Cost of goods sold” on the accompanying Consolidated Statements of Earnings, was $10.1 million in 2019, $13.4 million in 2018 and $14.7 million in 2017. Unamortized capitalized software development costs of $42.6 million as of 2019 year end and $40.2 million as of 2018 year end are included in “Other intangibles – net” on the accompanying Consolidated Balance Sheets. Internal-use software: Costs that are incurred in creating software solutions and enhancements to those solutions are capitalized only for the application development stage of the project. Shipping and handling: Amounts billed to customers for shipping and handling are included as a component of sales. Costs incurred by Snap-on for shipping and handling are included as a component of cost of goods sold when the costs relate to manufacturing activities. In 2019, 2018 and 2017, Snap-on incurred shipping and handling charges of $56.5 million, $53.7 million and $49.7 million, respectively, that were recorded in “Cost of goods sold” on the accompanying Consolidated Statements of Earnings. Shipping and handling costs incurred in conjunction with selling or distribution activities are included as a component of operating expenses. Shipping and handling charges were $88.7 million in 2019, $84.3 million in 2018 and $82.3 million in 2017; these charges were recorded in “Operating expenses” on the accompanying Consolidated Statements of Earnings. Advertising and promotion: Production costs of future media advertising are deferred until the advertising occurs. All other advertising and promotion costs are expensed when incurred. For 2019, 2018 and 2017, advertising and promotion expenses totaled $47.7 million, $55.6 million and $55.7 million, respectively. Advertising and promotion costs are included in “Operating expenses” on the accompanying Consolidated Statements of Earnings. Warranties: Snap-on provides product warranties for specific product lines and accrues for estimated future warranty costs in the period in which the sale is recorded. See Notes 2 and 15 for information on warranties. Foreign currency: The financial statements of Snap-on’s foreign subsidiaries are translated into U.S. dollars. Assets and liabilities of foreign subsidiaries are translated at current rates of exchange, and income and expense items are translated at the average exchange rates for the period. The resulting translation adjustments are recorded directly into “Accumulated other comprehensive loss” on the accompanying Consolidated Balance Sheets. Foreign exchange transactions, net of foreign currency hedges, resulted in pretax losses of $3.6 million, $3.9 million and $7.0 million in 2019, 2018 and 2017, respectively. Foreign exchange transaction gains and losses are reported in “Other income (expense) – net” on the accompanying Consolidated Statements of Earnings. Income taxes: Current tax assets and liabilities are based upon an estimate of taxes refundable or payable for each of the jurisdictions in which the company is subject to tax. In the ordinary course of business, there is inherent uncertainty in quantifying income tax positions. Snap-on assesses income tax positions and records tax benefits for all years subject to examination based upon management’s evaluation of the facts, circumstances and information available at the reporting dates. For those tax positions where it is more-likely-than-not that a tax benefit will be sustained, Snap-on records the largest amount of tax benefit with a greater than 50% likelihood of being realized upon ultimate settlement with a taxing authority that has full knowledge of all relevant information. For those income tax positions where it is not more-likely-than-not that a tax benefit will be sustained, no tax benefit is recognized in the financial statements. When applicable, associated interest and penalties are recognized as a component of income tax expense. Accrued interest and penalties are included within the related tax asset or liability on the accompanying Consolidated Balance Sheets. Deferred income taxes are provided for temporary differences arising from differences in bases of assets and liabilities for tax and financial reporting purposes. Deferred income taxes are recorded on temporary differences using enacted tax rates in effect for the year in which the temporary differences are expected to reverse. The effect of a change in tax rates on deferred tax assets and liabilities is recognized in income in the period that includes the enactment date. Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more-likely-than-not that some portion or all of the deferred tax assets will not be realized. See Note 8 for further information on income taxes. Per share data: Basic earnings per share calculations were computed by dividing net earnings attributable to Snap-on Incorporated by the corresponding weighted-average number of common shares outstanding for the period. The dilutive effect of the potential exercise of outstanding options and stock-settled stock appreciation rights (“SARs”) to purchase common shares is calculated using the treasury stock method. As of December 28, 2019, there were 1,215,695 awards outstanding that were anti-dilutive; as of December 29, 2018, there were 685,533 awards outstanding that were anti-dilutive; and as of December 30, 2017 there were 722,715 awards outstanding that were anti-dilutive. Performance-based equity awards are included in the diluted earnings per share calculation based on the attainment of the applicable performance metrics to date. Snap-on had dilutive securities totaling 748,395 shares, 986,984 shares and 1,207,285 shares, as of the end of 2019, 2018 and 2017, respectively. See Note 13 for further information on equity awards. Stock-based compensation: Snap-on recognizes the cost of employee services in exchange for awards of equity instruments based on the grant date fair value of those awards. That cost, based on the estimated number of awards that are expected to vest, is recognized on a straight-line basis over the period during which the employee is required to provide the service in exchange for the award. No compensation cost is recognized for awards for which employees do not render the requisite service. The grant date fair value of employee stock options and similar instruments is estimated using the Black-Scholes valuation model. The Black-Scholes valuation model requires the input of subjective assumptions, including the expected life of the stock-based award and stock price volatility. The assumptions used are management’s best estimates, but the estimates involve inherent uncertainties and the application of management judgment. As a result, if other assumptions had been used, the recorded stock-based compensation expense could have been materially different from that depicted in the financial statements. See Note 13 for further information on stock-based compensation. Derivatives: Snap-on utilizes derivative financial instruments, including foreign currency forward contracts, interest rate swap agreements, treasury lock agreements and prepaid equity forward agreements to manage its exposures to foreign currency exchange rate risks, interest rate risks, and market risk associated with the stock-based portion of its deferred compensation plans. Snap-on accounts for its derivative instruments at fair value. Snap-on does not use financial instruments for speculative or trading purposes. See Note 10 for further information on derivatives. Cash equivalents: Snap-on considers all highly liquid investments with an original maturity of three months or less to be cash equivalents. There were no cash equivalents as of 2019 and 2018 year ends. Receivables and allowances for doubtful accounts: All trade, finance and contract receivables are reported on the Consolidated Balance Sheets at their outstanding principal balance adjusted for any charge-offs and net of allowances for doubtful accounts. Finance and contract receivables also include accrued interest and contract acquisition costs, net of contract acquisition fees. Snap-on maintains allowances for doubtful accounts to absorb probable losses inherent in its portfolio of receivables. The allowances for doubtful accounts represent management’s estimate of the losses inherent in the company’s receivables portfolio based on ongoing assessments and evaluations of collectability and historical loss experience. In estimating losses inherent in each of its receivable portfolios (trade, finance and contract receivables), Snap-on uses historical loss experience rates by portfolio and applies them to a related aging analysis. Determination of the proper level of allowances by portfolio requires management to exercise judgment about the timing, frequency and severity of credit losses that could materially affect the allowance for doubtful accounts and, as a result, net earnings. The allowances take into consideration numerous quantitative and qualitative factors that include receivable type, historical loss experience, loss migration, delinquency trends, collection experience, current economic conditions and credit risk characteristics as follows: • Snap-on evaluates the collectability of receivables based on a combination of various financial and qualitative factors that may affect its customers’ ability to pay. These factors may include customers’ financial condition, debt-servicing ability, past payment experience, and credit bureau and proprietary Snap-on credit model information, as well as the value of the underlying collateral. • For finance and contract receivables, Snap-on assesses quantitative and qualitative factors through the use of credit quality indicators consisting primarily of collection experience and other internal metrics as follows: ◦ Collection experience – Snap-on conducts monthly reviews of credit and collection performance for each of its finance and contract receivable portfolios focusing on data such as delinquency trends, non-performing assets, and charge-off and recovery activity. These reviews allow for the formulation of collection strategies and potential collection policy modifications in response to changing risk profiles in the finance and contract receivable portfolios. ◦ Other internal metrics – Snap-on maintains a system that aggregates credit exposure by customer, risk classification and geographical area, among other factors, to further monitor changing risk profiles. Management performs detailed reviews of its receivables on a monthly and/or quarterly basis to assess the adequacy of the allowances based on historical and current trends and other factors affecting credit losses and to determine if any impairment has occurred. 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 agreement. Additions to the allowances for doubtful accounts are maintained through adjustments to the allowances, which are charged to current period earnings; amounts determined to be uncollectable are charged directly against the allowances, while amounts recovered on previously charged-off accounts increase the allowances. Net charge-offs include the principal amount of losses charged-off as well as charged-off interest and fees. Recovered interest and fees previously charged-off are recorded through the allowances for doubtful accounts and increase the allowances. Finance receivables are assessed for charge-off when an account becomes 120 days past due and are charged-off typically within 60 days of asset repossession. Contract receivables related to equipment leases are generally charged-off when an account becomes 150 days past due, while contract receivables related to franchise finance and van leases are generally charged-off up to 180 days past the asset return date. For finance and contract receivables, customer bankruptcies are generally charged-off upon notification that the associated debt is not being reaffirmed or, in any event, no later than 180 days past due. Snap-on does not believe that its trade accounts, finance or contract receivables represent significant concentrations of credit risk because of the diversified portfolio of individual customers and geographical areas. See Note 4 for further information on receivables and allowances for doubtful accounts. Other accrued liabilities: Supplemental balance sheet information for “Other accrued liabilities” as of 2019 and 2018 year end is as follows: (Amounts in millions) 2019 2018 Income taxes $ 23.9 $ 34.4 Accrued warranty 17.3 17.1 Operating lease liability 19.5 — Deferred subscription revenue 55.1 47.3 Accrued new tool return 50.9 43.7 Accrued property, payroll and other taxes 38.6 40.1 Accrued selling and promotion expense 28.3 28.7 Accrued legal charges — 30.9 Other 137.2 131.4 Total other accrued liabilities $ 370.8 $ 373.6 Inventories: Snap-on values its inventory at the lower of cost or market and adjusts for the value of inventory that is estimated to be excess, obsolete or otherwise unmarketable. Snap-on records allowances for excess and obsolete inventory based on historical and estimated future demand and market conditions. Allowances for raw materials are largely based on an analysis of raw material age and actual physical inspection of raw material for fitness for use. As part of evaluating the adequacy of allowances for work-in-progress and finished goods, management reviews individual product stock-keeping units (SKUs) by product category and product life cycle. Cost adjustments for each product category/product life-cycle state are generally established and maintained based on a combination of historical experience, forecasted sales and promotions, technological obsolescence, inventory age and other actual known conditions and circumstances. Should actual product marketability and raw material fitness for use be affected by conditions that are different from management estimates, further adjustments to inventory allowances may be required. Snap-on adopted the “last-in, first-out” (“LIFO”) inventory valuation method in 1973 for its U.S. locations. Snap-on’s U.S. inventories accounted for on a LIFO basis consist of purchased product and inventory manufactured at the company’s heritage U.S. manufacturing facilities (primarily hand tools and tool storage). Since Snap-on began acquiring businesses in the 1990’s, the company has used the “first-in, first-out” (“FIFO”) inventory valuation methodology for acquisitions; the company does not adopt the LIFO inventory valuation methodology for new acquisitions. See Note 5 for further information on inventories. Property and equipment: Property and equipment is stated at cost less accumulated depreciation and amortization. Depreciation and amortization are provided on a straight-line basis over estimated useful lives. Major repairs that extend the useful life of an asset are capitalized, while routine maintenance and repairs are expensed as incurred. Capitalized software included in property and equipment reflects costs related to internally developed or purchased software for internal use and is amortized on a straight-line basis over their estimated useful lives. Long-lived assets are evaluated for impairment when events or circumstances indicate that the carrying amount of the long-lived asset may not be recoverable. See Note 6 for further information on property and equipment. Goodwill and other intangible assets: Goodwill and other indefinite-lived assets are tested for impairment annually or more frequently if events or changes in circumstances indicate that the assets might be impaired. Annual impairment tests are performed by the company in the second quarter of each year using information available as of April month end. Snap-on evaluates the existence of goodwill and indefinite-lived intangible asset impairment on the basis of whether the assets are fully recoverable from projected, discounted cash flows of the related reportable unit or asset. Intangible assets with finite lives are amortized over their estimated useful lives using straight-line and accelerated methods depending on the nature of the particular asset. See Note 7 for further information on goodwill and other intangible assets. New accounting standards The following new accounting pronouncements were adopted in fiscal year 2019: In August 2017, the Financial Accounting Standards Board (the “FASB”) issued ASU No. 2017-12, Derivatives and Hedging (Topic 815) – Targeted Improvements to Accounting for Hedging Activities , which improves the financial reporting of hedging relationships to better portray the economic results of an entity’s risk management activities in its financial statements. The amendments in this update also make certain targeted improvements to simplify the application of the hedge accounting guidance in current GAAP. Snap-on adopted ASU No. 2017-12 at the beginning of its 2019 fiscal year. The adoption of this ASU resulted in new disclosures, including comparative information for all years presented, but otherwise had no impact on the company’s Consolidated Financial Statements. See Note 10 for further information on financial instruments. In February 2018, the FASB issued ASU No. 2018-02, Income Statement - Reporting Comprehensive Income - Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income (Topic 220) , which allows for a reclassification from accumulated other comprehensive income to retained earnings for stranded tax effects resulting from the Tax Cuts and Jobs Act (the “Tax Act”). Snap-on adopted this ASU at the beginning of its 2019 fiscal year, resulting in an increase of $45.9 million to Retained Earnings on the company’s Consolidated Statements of Equity with an offsetting decrease in Accumulated Other Comprehensive Income (Loss). See Note 18 for further information on accumulated other comprehensive income. In February 2016, the FASB issued ASU No. 2016-02, Leases (Topic 842) , to increase transparency and comparability among organizations by recognizing lease assets and lease liabilities on the balance sheet and disclosing key information about leasing arrangements. The ASU is intended to represent an improvement over previous GAAP, which did not require lease assets and lease liabilities to be recognized for most leases. Topic 842, which supersedes most current lease guidance, affects any entity that enters into a lease, with some specified scope exemptions. Snap-on adopted Topic 842 using the modified retrospective approach, with a date of initial application of December 30, 2018, the beginning of its 2019 fiscal year. Snap-on elected the package of practical expedients permitted under the standard, which allowed the company to carry forward historical lease classifications. The company also elected the practical expedient related to treating lease and non-lease components as a single lease component for all equipment leases as well as electing a policy exclusion permitting leases with an original lease term of less than one year to be excluded from the Right-of-Use (“ROU”) assets and lease liabilities. The adoption of this ASU did not have a significant impact on the company’s Consolidated Financial Statements. See Note 16 for further information on leases. In August 2018, the FASB issued ASU No. 2018-14, Compensation - Retirement Benefits - Defined Benefit Plans - General Subtopic 715-20 - Disclosure Framework - Changes to the Disclosure Requirements for Defined Benefit Plans , which is designed to improve the effectiveness of disclosures by removing and adding disclosures related to defined benefit plans. ASU No. 2018-14 is effective for fiscal years ending after December 15, 2020. In the fourth quarter of 2019, the company early adopted ASU 2018-14. The adoption resulted in new disclosures, including comparative information for all years presented, and the removal of certain disclosures no longer required. See Notes 11 and 12 for further information on retirement plans. The following new accounting pronouncements, and related impacts on adoption, are being evaluated by the company: In December 2019, the FASB issued ASU No. 2019-12, Simplifying the Accounting for Income Taxes , which is designed to simplify the accounting for income taxes by removing certain exceptions to the general principles in Topic 740. ASU 2019-12 is effective for fiscal years beginning after December 15, 2020, including interim periods within those fiscal years; this ASU allows for early adoption in any interim period after issuance of the update. The company is currently assessing the impact this ASU will have on its consolidated financial statements. In August 2018, the FASB issued ASU No. 2018-13, Fair Value Measurement (Topic 820) - Disclosure Framework - Changes to the Disclosure Requirements for Fair Value Measurement , which is designed to improve the effectiveness of disclosures by removing, modifying and adding disclosures related to fair value measurements. ASU No. 2018-13 is effective for fiscal years beginning after December 15, 2019, including interim periods within those fiscal years. The adoption of this ASU is not expected to have a significant impact on the company’s consolidated financial statements. In June 2016, the FASB issued ASU No. 2016-13, Financial Instruments – Credit Losses (Topic 326) , to require the measurement of expected credit losses for financial instruments held at the reporting date based on historical experience, current conditions and reasonable forecasts. The main objective of this ASU is to provide financial statement users with more information about the expected credit losses on financial instruments and other commitments to extend credit held by a reporting entity at each reporting date. ASU No. 2016-13 is effective for fiscal years beginning after December 15, 2019, including interim periods within those fiscal years. The adoption of ASU No. 2016-13 will require the company to record an estimate of all expected credit losses based on historical experience, current conditions, and a reasonable and supportable forecast. This guidance will replace the company’s current incurred loss model, which uses historical loss experience to estimate credit loss reserves. This ASU is expected to increase the company’s allowance for doubtful accounts as a result of: (i) recording reserves based on historical loss experience; (ii) extending the loss estimate period over the remaining contractual life of the receivable; and (iii) forecasting for future market conditions. Snap-on commenced its assessment of this ASU during the second half of 2018 and developed a comprehensive project plan that included representatives from the company’s business segments. The project plan included analyzing the standard’s potential change on the company’s allowance for doubtful accounts reserves, identifying reporting requirements of the new standard, and identifying changes to the company’s business processes, systems and controls to support the accounting and disclosures under this ASU. As of December 28, 2019, and subject to the company’s ongoing evaluation of the receivables portfolio, the company has completed its evaluation of the expected impact of adoption of ASU No. 2016-13 and anticipates that the adoption of this standard will result in an increase of the allowance for doubtful accounts for finance, contract and trade receivables of approximately $8 million with an offsetting adjustment, net of taxes, to fiscal 2020 beginning retained earnings. Updates to the allowance for doubtful accounts after initial adoption will be recorded through provision expense. The credit risk of the portfolio and the associated underwriting will not change with the adoption of this ASU.

Revenue Recognition

Revenue Recognition	12 Months Ended
Revenue Recognition	Dec. 28, 2019
Revenue from Contract with Customer [Abstract]
Revenue Recognition	Revenue Recognition Snap-on recognizes revenue from the sale of tools, diagnostic and equipment products and related services based on when control of the product passes to the customer or the service is provided and is recognized at an amount that reflects the consideration expected to be received in exchange for such goods or services. Revenue disaggregation The following table shows the consolidated revenues by revenue source: (Amounts in millions) 2019 2018 Revenue from contracts with customers $ 3,708.3 $ 3,719.6 Other revenues 21.7 21.1 Total net sales 3,730.0 3,740.7 Financial services revenue 337.7 329.7 Total revenues $ 4,067.7 $ 4,070.4 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 both intersegment sales and transfers based primarily on standard costs with reasonable mark-ups established between the segments. Intersegment amounts are eliminated to arrive at Snap-on’s consolidated financial results. The following table represents external net sales disaggregated by geography, based on the customers’ billing addresses: 2019 Commercial & Snap-on Repair Systems Industrial Tools & Information Financial Snap-on (Amounts in millions) Group Group Group Services Eliminations Incorporated Net sales: North America* $ 482.1 $ 1,406.1 $ 766.4 $ — $ — $ 2,654.6 Europe 291.7 131.9 241.3 — — 664.9 All other 264.4 74.9 71.2 — — 410.5 External net sales 1,038.2 1,612.9 1,078.9 — — 3,730.0 Intersegment net sales 307.5 — 255.6 — (563.1) — Total net sales 1,345.7 1,612.9 1,334.5 — (563.1) 3,730.0 Financial services revenue — — — 337.7 — 337.7 Total revenue $ 1,345.7 $ 1,612.9 $ 1,334.5 $ 337.7 $ (563.1) $ 4,067.7 2018 Commercial & Snap-on Repair Systems Industrial Tools & Information Financial Snap-on (Amounts in millions) Group Group Group Services Eliminations Incorporated Net sales: North America* $ 466.5 $ 1,378.7 $ 747.1 $ — $ — $ 2,592.3 Europe 311.9 151.3 255.2 — — 718.4 All other 273.2 83.8 73.0 — — 430.0 External net sales 1,051.6 1,613.8 1,075.3 — — 3,740.7 Intersegment net sales 291.7 — 259.1 — (550.8) — Total net sales 1,343.3 1,613.8 1,334.4 — (550.8) 3,740.7 Financial services revenue — — — 329.7 — 329.7 Total revenue $ 1,343.3 $ 1,613.8 $ 1,334.4 $ 329.7 $ (550.8) $ 4,070.4 * North America is comprised of the United States, Canada and Mexico. The following table represents external net sales disaggregated by customer type: 2019 Commercial & Snap-on Repair Systems Industrial Tools & Information Financial Snap-on (Amounts in millions) Group Group Group Services Eliminations Incorporated Net sales: Vehicle service professionals $ 85.5 $ 1,612.9 $ 1,078.9 $ — $ — $ 2,777.3 All other professionals 952.7 — — — — 952.7 External net sales 1,038.2 1,612.9 1,078.9 — — 3,730.0 Intersegment net sales 307.5 — 255.6 — (563.1) — Total net sales 1,345.7 1,612.9 1,334.5 — (563.1) 3,730.0 Financial services revenue — — — 337.7 — 337.7 Total revenue $ 1,345.7 $ 1,612.9 $ 1,334.5 $ 337.7 $ (563.1) $ 4,067.7 2018 Commercial & Snap-on Repair Systems Industrial Tools & Information Financial Snap-on (Amounts in millions) Group Group Group Services Eliminations Incorporated Net sales: Vehicle service professionals $ 91.1 $ 1,613.8 $ 1,075.3 $ — $ — $ 2,780.2 All other professionals 960.5 — — — — 960.5 External net sales 1,051.6 1,613.8 1,075.3 — — 3,740.7 Intersegment net sales 291.7 — 259.1 — (550.8) — Total net sales 1,343.3 1,613.8 1,334.4 — (550.8) 3,740.7 Financial services revenue — — — 329.7 — 329.7 Total revenue $ 1,343.3 $ 1,613.8 $ 1,334.4 $ 329.7 $ (550.8) $ 4,070.4 Nature of goods and services: Snap-on derives net sales from a broad line of products and complementary services that are grouped into three categories: (i) tools; (ii) diagnostics, information and management systems; and (iii) equipment. The tools product category includes hand tools, power tools, tool storage products and other similar products. The diagnostics, information and management systems product category includes handheld and PC-based diagnostic products, service and repair information products, diagnostic software solutions, electronic parts catalogs, business management systems and services, point-of-sale systems, integrated systems for vehicle service shops, original equipment manufacturer (“OEM”) purchasing facilitation services, and warranty management systems and analytics to help OEM dealership service and repair shops (“OEM dealerships”) manage and track performance. The equipment product category includes solutions for the service of vehicles and industrial equipment. Snap-on supports the sale of its diagnostics and vehicle service shop equipment by offering training programs as well as after-sales support to its customers. Through its financial services businesses, Snap-on also derives revenue from various financing programs designed to facilitate the sales of its products and support its franchise business. Approximately 90% of Snap-on’s net sales are products sold at a point in time through ship-and-bill performance obligations that also includes repair services. The remaining sales revenue is earned over time primarily on a subscription basis including software, extended warranty and other subscription service agreements. Snap-on enters into contracts related to the selling of tools, diagnostic and repair information and equipment products and related services. At contract inception, an assessment of the goods and services promised in the contracts with customers is performed and a performance obligation is identified for each distinct promise to transfer to the customer a good or service (or bundle of goods or services). To identify the performance obligations, Snap-on considers all of the goods or services promised in the contract regardless of whether they are explicitly stated or are implied by customary business practices. Contracts with customers are comprised of customer purchase orders, invoices and written contracts. When performance obligations are satisfied: For performance obligations related to the majority of ship-and-bill products, including repair services contracts, control transfers at a point in time when title transfers upon shipment of the product to the customer, and for some sales, control transfers when title is transferred at time of receipt by customer. Once a product or repaired product has shipped or has been delivered, the customer is able to direct the use of, and obtain substantially all of the remaining benefits from the asset, revenue is recognized. Snap-on considers control to have transferred upon shipment or delivery when Snap-on has a present right to payment, the customer has legal title to the asset, Snap-on has transferred physical possession of the asset, and the customer has significant risk and rewards of ownership of the asset. For performance obligations related to software subscriptions, extended warranties and other subscription agreements, Snap-on transfers control and recognizes revenue over time on a ratable basis using a time-based output method. The performance obligations are typically satisfied as services are rendered on a straight-line basis over the contract term, which is generally for 12 months but can be for a term up to 60 months. Significant payment terms: For ship-and-bill type contracts with customers, the contract states the final terms of the sale, including the description, quantity, and price of each product or service purchased. Payment terms are typically due upon delivery or up to 30 days after delivery but can range up to 120 days after delivery. For subscription contracts, payment terms are in advance or in arrears of services on a monthly, quarterly or annual basis over the contract term, which is generally for 12 months but can be for a term up to 60 months depending on the product or service. The customer typically agrees to a stated rate and price in the contract that does not vary over the contract term. In some cases, customers prepay for their licenses, or in other cases, pay on a monthly or quarterly basis. When the timing of the payment made by the customer precedes the delivery of the performance obligation, a contract liability is recognized. Variable consideration: In some cases, the nature of Snap-on’s contracts give rise to variable consideration, including rebates, credits, allowances for returns or other similar items that generally decrease the transaction price. These variable amounts generally are credited to the customer, based on achieving certain levels of sales activity, product returns and making payments within specific terms. In the normal course of business, Snap-on allows franchisees to return product per the provisions in the franchise agreement that allow for the return of product in a saleable condition. For other customers, product returns are generally not accepted unless the item is defective as manufactured. Where applicable, Snap-on establishes provisions for estimated sales returns. Estimated product returns are recorded as a reduction in reported revenues at the time of sale based upon historical product return experience and is adjusted for known trends to arrive at the amount of consideration to which Snap-on expects to receive. Variable consideration is estimated at the most likely amount that is expected to be earned. Estimated amounts are included in the transaction price to the extent it is probable that a significant reversal of cumulative revenue recognized will not occur when the uncertainty associated with the variable consideration is resolved. Estimates of variable consideration and determination of whether to include estimated amounts in the transaction price are based largely on an assessment of the anticipated performance and all information (historical, current and forecasted) that is reasonably available. Warranties: Snap-on allows customers to return product when the product is defective as manufactured. Where applicable, Snap-on establishes provisions for estimated warranties. Estimated product warranties are provided for specific product lines and Snap-on accrues for estimated future warranty cost in the period in which the sale is recorded. The costs are included in “Cost of goods sold” on the accompanying Consolidated Statements of Earnings. Snap-on calculates its accrual requirements based on historic warranty loss experience that is periodically adjusted for recent actual experience, including the timing of claims during the warranty period and actual costs incurred. Snap-on does not typically provide customers with the right to a refund. Practical expedients and exemptions of ASU No. 2014-09, Revenue from Contracts with Customers (Topic 606) : Snap-on typically expenses incremental direct costs of obtaining a contract (sales commissions) when incurred because the amortization period is generally 12 months or less. Capitalized long-term contract costs are not significant. Contract costs are expensed or amortized in “Operating expenses” on the accompanying Consolidated Statements of Earnings. Snap-on elected to account for shipping and handling activities that occur after control of the related good transfers to the customer as fulfillment activities and are therefore recognized upon shipment of the goods. Snap-on has applied the portfolio approach to its ship-and-bill contracts that have similar characteristics as it reasonably expects that the effects on the financial statements of applying this guidance to the portfolio of contracts would not differ materially from applying this guidance to the individual contracts within the portfolio. Snap-on typically excludes from its sales transaction price any amounts collected from customers for sales (and similar) taxes. For certain performance obligations related to software subscriptions, extended warranty and other subscription agreements that are settled over time, Snap-on has elected not to disclose the value of unsatisfied performance obligations for: (i) contracts that have an original expected length of one year or less; (ii) contracts where revenue is recognized as invoiced; and (iii) contracts with variable consideration related to unsatisfied performance obligations. The remaining duration of these unsatisfied performance obligations generally range from one month up to 60 months. Snap-on had approximately $235 million of long-term contracts that have fixed consideration that extends beyond one year as of December 28, 2019. Snap-on expects to recognize approximately 70% of these contracts as revenue by the end of fiscal 2021, an additional 25% by the end of fiscal 2023 and the balance thereafter. Contract liabilities (Deferred revenues): Contract liabilities are recorded when cash payments are received in advance of Snap-on’s performance. The timing of payment is typically on a monthly, quarterly or annual basis. The balance of total contract liabilities was $65.1 million and $63.8 million at December 28, 2019 and December 29, 2018, respectively. The current portion of contract liabilities and the non-current portion are included in “Other accrued liabilities” and “Other long-term liabilities”, respectively, on the accompanying Consolidated Balance Sheets. In 2019, Snap-on recognized revenue of $46.2 million that was included in the contract liability balance as of December 29, 2018, which was primarily from the amortization of software subscriptions, extended warranties and other subscription agreements. The increase in the total contract liabilities balance is primarily driven by the timing of cash payments received or due in advance of satisfying Snap-on’s performance obligations and growth in certain software subscriptions, partially offset by revenues recognized that were included in the contract liability balance at the beginning of the year. Franchise fee revenue, including nominal, non-refundable initial fees, is recognized upon the granting of a franchise, which is when the company has performed substantially all initial services required by the franchise agreement. Franchise fee revenue also includes ongoing monthly fees (primarily for sales and business training as well as marketing and product promotion programs) that are recognized as the fees are earned. Franchise fee revenue in 2019, 2018 and 2017 totaled $15.4 million, $16.2 million and $15.2 million, respectively. Revenue recognition prior to 2018: Revenue recognition prior to 2018, as presented, is based on Revenue Recognition (Topic 605). Snap-on recognized revenue from the sale of tools and diagnostic and equipment products when contract terms were met, the price was fixed or determinable, collectability was reasonably assured and a product was shipped or risk of ownership had been transferred to and accepted by the customer. For sales contingent upon customer acceptance, revenue recognition was deferred until such obligations were fulfilled. Estimated product returns were recorded as a reduction in reported revenues at the time of sale based upon historical product return experience and gross profit margin was adjusted for known trends. Provisions for customer volume rebates, discounts and allowances were also recorded as a reduction in reported revenues at the time of sale based on historical experience and known trends. Revenue related to extended warranty and subscription agreements was recognized over the terms of the respective agreements. Snap-on also recognized revenue related to multiple element arrangements, including sales of hardware, software and software-related services. When a sales arrangement contained multiple elements, such as hardware and software products and/or services, Snap-on used the relative selling price method to allocate revenues between hardware and software elements. For software elements that were not essential to the hardware’s functionality and related software post-contract customer support, vendor specific objective evidence (“VSOE”) of fair value was used to further allocate revenue to each element based on its relative fair value and, when necessary, the residual method was used to assign value to the delivered elements when VSOE only existed for the undelivered elements. The amount assigned to the products or services was recognized when the product was delivered and/or when the services were performed. In instances where the product and/or services were performed over an extended period, as is the case with subscription agreements or the providing of ongoing support, revenue was generally recognized on a straight-line basis over the term of the agreement, which generally ranged from 12 months to 60 months.

Acquisitions

Acquisitions	12 Months Ended
Acquisitions	Dec. 28, 2019
Business Combinations [Abstract]
Acquisitions	Acquisitions On August 7, 2019, Snap-on acquired Cognitran Limited (“Cognitran”) for a preliminary cash purchase price of $30.4 million (or $29.4 million, net of cash acquired). The preliminary purchase price is subject to change based upon finalization of a working capital adjustment that is expected to be completed in the first quarter of 2020. Cognitran, based in Chelmsford, U.K., specializes in flexible, modular and highly scalable “Software as a Service” (SaaS) products for OEM customers and their dealers, focused on the creation and delivery of service, diagnostics, parts and repair information to the OEM dealers and connected vehicle platforms. As of December 28, 2019, the company recorded, on a preliminary basis, the $11.4 million excess of the purchase price over the fair value of the net assets acquired in “Goodwill” on the accompanying Consolidated Balance Sheets. The company anticipates completing the purchase accounting for the acquired net assets of Cognitran in the first half of 2020. On April 2, 2019, Snap-on acquired Power Hawk Technologies, Inc. (“Power Hawk”) for a cash purchase price of $7.9 million. Power Hawk, based in Rockaway, New Jersey, designs, manufactures and distributes rescue tools and related equipment for a variety of military, governmental, fire and rescue, and emergency operations. In fiscal 2019, the company completed the purchase accounting valuations for the acquired net assets of Power Hawk. The $6.4 million excess of the purchase price over the fair value of the net assets acquired was recorded in “Goodwill” on the accompanying Consolidated Balance Sheets. On January 25, 2019, Snap-on acquired substantially all of the assets of TMB GeoMarketing Limited (“TMB”) for a cash purchase price of $1.3 million. TMB, based in Dorking, U.K., designs planning software used by OEMs to optimize dealer locations and manage the performance of dealer outlets. In fiscal 2019, the company completed the purchase accounting valuations for the acquired net assets of TMB. Substantially all of the purchase price over the fair value of the net assets acquired was recorded in “Goodwill” on the accompanying Consolidated Balance Sheets. On January 31, 2018, Snap-on acquired substantially all of the assets of George A. Sturdevant, Inc. (d/b/a Fastorq) for a cash purchase price of $3.0 million. Fastorq, based in New Caney, Texas, designs, assembles and distributes hydraulic torque and hydraulic tensioning products for use in critical industries. In fiscal 2018, the company completed the purchase accounting valuations for the acquired net assets of Fastorq. The $2.6 million excess of the purchase price over the fair value of the net assets acquired was recorded in “Goodwill” on the accompanying Consolidated Balance Sheets. On July 28, 2017, Snap-on acquired Torque Control Specialists Pty Ltd (“TCS”) for a cash purchase price of $3.6 million (or $3.5 million, net of cash acquired). TCS, based in Adelaide, Australia, distributes a full range of torque products, including wrenches, multipliers and calibrators, for use in critical industries. In fiscal 2018, the company completed the purchase accounting valuations for the acquired net assets of TCS. The $2.0 million excess of purchase price over the fair value of the net assets acquired was recorded in “Goodwill” on the accompanying Consolidated Balance Sheets. On May 4, 2017, Snap-on acquired Norbar Torque Tools Holdings Limited, along with its U.S. and Chinese joint ventures (“Norbar”), for a cash purchase price of $71.6 million (or $69.9 million, net of cash acquired). Norbar, based in Banbury, U.K., designs and manufactures a full range of torque products, including wrenches, multipliers and calibrators for use in critical industries. In fiscal 2018, the company completed the purchase accounting valuations for the acquired net assets of Norbar, including intangible assets. The $25.1 million excess of purchase price over the fair value of the net assets acquired was recorded in “Goodwill” on the accompanying Consolidated Balance Sheets. On January 30, 2017, Snap-on acquired BTC Global Limited (“BTC”) for a cash purchase price of $9.2 million. BTC, based in Crewe, U.K., designs and implements automotive vehicle inspection and management software for OEM franchise repair shops. In fiscal 2017, the company completed the purchase accounting valuations for the acquired net assets of BTC, including intangible assets. The $5.9 million excess of purchase price over the fair value of the net assets acquired was recorded in “Goodwill” on the accompanying Consolidated Balance Sheets. For segment reporting purposes, the results of operations and assets of Cognitran, TMB, and BTC have been included in the Repair Systems & Information Group since the respective acquisition dates, and the results of operations and assets of Power Hawk, Fastorq, TCS and Norbar have been included in the Commercial & Industrial Group since the respective acquisition dates. Pro forma financial information has not been presented for any of these acquisitions as the net effects, individually and collectively, were neither significant nor material to Snap-on’s results of operations or financial position. See Note 7 for further information on goodwill and other intangible assets.

Receivables

Receivables	12 Months Ended
Receivables	Dec. 28, 2019
Receivables [Abstract]
Receivables	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 independent franchise van channel on a non-extended-term basis with payment terms generally ranging from 30 to 120 days. The components of Snap-on’s trade and other accounts receivable as of 2019 and 2018 year end are as follows: (Amounts in millions) 2019 2018 Trade and other accounts receivable $ 715.5 $ 710.1 Allowances for doubtful accounts (20.9) (17.5) Total trade and other accounts receivable – net $ 694.6 $ 692.6 Finance and Contract Receivables Snap-on Credit LLC, 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 certain other customers of Snap-on; Snap-on’s foreign finance subsidiaries provide similar financing internationally. Interest income on finance and contract receivables is included in “Financial services revenue” on the accompanying Consolidated Statements of Earnings. Snap-on’s finance receivables are comprised of extended-term payment contracts to both technicians and independent shop owners (i.e., franchisees’ customers) to enable them to purchase tools and diagnostic and equipment products on an extended-term payment plan, generally with average payment terms of approximately four Snap-on’s contract receivables, with payment terms of up to 10 years, are comprised of extended-term payment contracts to a broad base of customers worldwide. Contract receivables include extended-term 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 or for the expansion of an existing franchise, as well as van leases. Contract receivables also include extended-term loans to shop owners, both independents and national chains, for their purchase of tools and diagnostic and equipment products. Contract receivables are generally secured by the underlying tools and/or diagnostic or equipment products financed and, for loans to franchisees, other franchisee assets. Prior period information in the tables below has been updated to conform to current year presentation for finance and contract lease receivables. See Notes 1 and 16 for further information on lessor accounting. The components of Snap-on’s current finance and contract receivables as of 2019 and 2018 year end are as follows: (Amounts in millions) 2019 2018 Finance installment receivables $ 511.9 $ 499.0 Finance lease receivables, net of unearned finance charges of $11.7 million and $11.4 million, respectively 37.9 39.1 Total finance receivables 549.8 538.1 Contract installment receivables 50.8 48.9 Contract lease receivables, net of unearned finance charges of $18.2 million and $18.4 million, respectively 51.4 50.6 Total contract receivables 102.2 99.5 Total 652.0 637.6 Allowances for doubtful accounts: Finance installment receivables (19.2) (19.0) Finance lease receivables (0.5) (0.6) Total finance allowance for doubtful accounts (19.7) (19.6) Contract installment receivables (0.5) (0.4) Contract lease receivables (1.0) (0.8) Total contract allowance for doubtful accounts (1.5) (1.2) Total allowance for doubtful accounts (21.2) (20.8) Total current finance and contract receivables – net $ 630.8 $ 616.8 Finance receivables – net $ 530.1 $ 518.5 Contract receivables – net 100.7 98.3 Total current finance and contract receivables – net $ 630.8 $ 616.8 The components of Snap-on’s finance and contract receivables with payment terms beyond one year as of 2019 and 2018 year end are as follows: (Amounts in millions) 2019 2018 Finance installment receivables $ 1,106.0 $ 1,080.1 Finance lease receivables, net of unearned finance charges of $8.2 million and $6.7 million, respectively 39.7 36.1 Total finance receivables 1,145.7 1,116.2 Contract installment receivables 195.5 190.6 Contract lease receivables, net of unearned finance charges of $29.4 million and $27.8 million, respectively 168.7 157.4 Total contract receivables 364.2 348.0 Total 1,509.9 1,464.2 Allowances for doubtful accounts: Finance installment receivables (41.6) (41.3) Finance lease receivables (0.6) (0.5) Total finance allowance for doubtful accounts (42.2) (41.8) Contract installment receivables (1.8) (1.5) Contract lease receivables (2.3) (1.6) Total contract allowance for doubtful accounts (4.1) (3.1) Total allowance for doubtful accounts (46.3) (44.9) Total current finance and contract receivables – net $ 1,463.6 $ 1,419.3 Finance receivables – net $ 1,103.5 $ 1,074.4 Contract receivables – net 360.1 344.9 Total current finance and contract receivables – net $ 1,463.6 $ 1,419.3 Long-term finance and contract receivables installments, net of unearned finance charges, as of 2019 and 2018 year end are scheduled as follows: 2019 2018 (Amounts in millions) Finance Contract Finance Contract Due in Months: 13 – 24 $ 439.1 $ 86.4 $ 428.7 $ 82.2 25 – 36 352.4 76.9 345.0 72.5 37 – 48 238.0 65.6 232.8 60.5 49 – 60 116.2 51.3 109.7 48.8 Thereafter — 84.0 — 84.0 Total $ 1,145.7 $ 364.2 $ 1,116.2 $ 348.0 Delinquency is the primary indicator of credit quality for finance and contract receivables. The entire receivable balance of a contract is considered delinquent when contractual payments become 30 days past due. Depending on the contract, payments for finance and contract receivables are due on a monthly or weekly basis. Weekly payments are converted into a monthly equivalent for purposes of calculating delinquency. Delinquencies are assessed at the end of each month following the monthly equivalent due date. Removal from delinquent status occurs when the cumulative number and amount of monthly equivalent payments due has been received by the company. 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 and receivables that are generally more than 90 days past due. 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 finance and contract receivables are covered by the company’s respective allowances for doubtful accounts and are charged-off against the allowances when appropriate. As of 2019 and 2018 year end, there were $29.4 million and $27.9 million, respectively, of impaired finance receivables, and there were $2.7 million and $6.0 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 2019 and 2018 year end 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 2019 and 2018 year end is as follows: (Amounts in millions) 30-59 60-90 Greater Total Past Total Not Past Total Greater 2019 year end: Finance receivables $ 19.7 $ 12.0 $ 21.4 $ 53.1 $ 1,642.4 $ 1,695.5 $ 17.2 Contract receivables 1.5 0.9 1.5 3.9 462.5 466.4 0.5 2018 year end: Finance receivables $ 19.4 $ 12.1 $ 20.3 $ 51.8 $ 1,602.5 $ 1,654.3 $ 15.9 Contract receivables 1.7 1.2 5.2 8.1 439.4 447.5 0.2 The amount of performing and nonperforming finance and contract receivables based on payment activity as of 2019 and 2018 year end is as follows: 2019 2018 (Amounts in millions) Finance Contract Finance Contract Performing $ 1,666.1 $ 463.7 $ 1,626.4 $ 441.5 Nonperforming 29.4 2.7 27.9 6.0 Total $ 1,695.5 $ 466.4 $ 1,654.3 $ 447.5 The amount of finance and contract receivables on nonaccrual status as of 2019 and 2018 year end is as follows: (Amounts in millions) 2019 2018 Finance receivables $ 12.2 $ 12.0 Contract receivables 2.2 5.8 The following is a rollforward of the allowances for doubtful accounts for finance and contract receivables for 2019 and 2018: 2019 2018 (Amounts in millions) Finance Contract Finance Contract Allowances for doubtful accounts: Beginning of year $ 61.4 $ 4.3 $ 56.5 $ 4.6 Provision 49.9 4.7 57.5 2.0 Charge-offs (57.1) (3.9) (59.4) (2.5) Recoveries 7.7 0.5 7.1 0.4 Currency translation — — (0.3) (0.2) End of year $ 61.9 $ 5.6 $ 61.4 $ 4.3 The following is a rollforward of the combined allowances for doubtful accounts related to trade and other accounts receivable, as well as finance and contract receivables, for 2019, 2018 and 2017: (Amounts in millions) Balance at Expenses Deductions (1) Balance at Allowances for doubtful accounts: 2019 $ 83.2 $ 68.2 $ (63.0) $ 88.4 2018 75.7 70.3 (62.8) 83.2 2017 66.5 65.1 (55.9) 75.7 (1) Represents write-offs of bad debts, net of recoveries, and the net impact of currency translation.

Inventories

Inventories	12 Months Ended
Inventories	Dec. 28, 2019
Inventory Disclosure [Abstract]
Inventories	Inventories Inventories by major classification as of 2019 and 2018 year end are as follows: (Amounts in millions) 2019 2018 Finished goods $ 661.0 $ 577.0 Work in progress 57.1 51.7 Raw materials 126.8 123.5 Total FIFO value 844.9 752.2 Excess of current cost over LIFO cost (84.5) (78.4) Total inventories – net $ 760.4 $ 673.8 Inventories accounted for using the FIFO method approximated 58% and 61% of total inventories as of 2019 and 2018 year end, respectively. The company accounts for its non-U.S. inventory on the FIFO method. As of 2019 year end, approximately 32% of the company’s U.S. inventory was accounted for using the FIFO method and 68% was accounted for using the LIFO method. There were no LIFO inventory liquidations in 2019, 2018 or 2017.

Property and Equipment

Property and Equipment	12 Months Ended
Property and Equipment	Dec. 28, 2019
Property, Plant and Equipment [Abstract]
Property and Equipment	Property and Equipment Property and equipment (which are carried at cost) as of 2019 and 2018 year end are as follows: (Amounts in millions) 2019 2018 Land $ 31.9 $ 31.7 Buildings and improvements 405.1 368.6 Machinery, equipment and computer software 988.0 944.4 Property and equipment – gross 1,425.0 1,344.7 Accumulated depreciation and amortization (903.5) (849.6) Property and equipment – net $ 521.5 $ 495.1 The estimated service lives of property and equipment are principally as follows: Buildings and improvements 3 to 50 years Machinery, equipment and computer software 2 to 15 years

Goodwill and Other Intangible A

Goodwill and Other Intangible Assets	12 Months Ended
Goodwill and Other Intangible Assets	Dec. 28, 2019
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Other Intangible Assets	Goodwill and Other Intangible Assets The changes in the carrying amount of goodwill by segment for 2019 and 2018 are as follows: (Amounts in millions) Commercial Snap-on Repair Systems Total Balance as of 2017 year end $ 298.4 $ 12.5 $ 613.2 $ 924.1 Currency translation (16.3) — (9.7) (26.0) Acquisitions 4.1 — — 4.1 Balance as of 2018 year end $ 286.2 $ 12.5 $ 603.5 $ 902.2 Currency translation (6.4) — (1.1) (7.5) Acquisitions 6.4 — 12.7 19.1 Balance as of 2019 year end $ 286.2 $ 12.5 $ 615.1 $ 913.8 Goodwill of $913.8 million as of 2019 year end includes: (i) $11.4 million, on a preliminary basis, from the acquisition of Cognitran; (ii) $6.4 million from the acquisition of Power Hawk; and (iii) $1.3 million from the acquisition of TMB. The goodwill from the Cognitran and TMB acquisitions is included in the Repair Systems & Information Group. The goodwill from the Power Hawk acquisition is included in the Commercial & Industrial Group. Goodwill of $902.2 million as of 2018 year end includes $2.6 million from the acquisition of Fastorq in 2018. During 2018, the purchase accounting valuations for the acquired net assets, including intangible assets, of Norbar and TCS were completed, resulting in an increase in goodwill of $1.4 million for Norbar and $0.1 million for TCS, which were both acquired in 2017. As of 2018 year end goodwill includes $25.1 million from the acquisition of Norbar and $2.0 million from the acquisition of TCS. The goodwill from the Fastorq, Norbar and TCS acquisitions is included in the Commercial & Industrial Group. See Note 3 for additional information on acquisitions. Additional disclosures related to other intangible assets as of 2019 and 2018 year end are as follows: 2019 2018 (Amounts in millions) Gross Accumulated Gross Accumulated Amortized other intangible assets: Customer relationships $ 182.9 $ (117.9) $ 172.2 $ (107.6) Developed technology 19.8 (18.9) 18.5 (18.3) Internally developed software 168.0 (125.4) 156.6 (116.6) Patents 38.5 (23.7) 35.7 (22.9) Trademarks 3.5 (2.1) 3.2 (2.0) Other 7.3 (3.1) 7.3 (2.9) Total 420.0 (291.1) 393.5 (270.3) Non-amortized trademarks 115.0 — 109.7 — Total other intangible assets $ 535.0 $ (291.1) $ 503.2 $ (270.3) As of year-end 2019, the gross carrying value of customer relationships includes $10.2 million related to the Cognitran acquisition and $0.9 million related to the Power Hawk acquisition. Additionally, the gross carrying value of intangible assets in 2019 includes $6.5 million of non-amortized trademarks and $1.1 million of developed technology as a result of the Cognitran acquisition. There were no acquisitions during 2018 that resulted in the recognition of other intangible assets as of year-end 2018. 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 2019 year end, 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 Developed technology 2 Internally developed software 6 Patents 7 Trademarks 5 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 12 years. The company’s customer relationships generally have contractual terms of three The aggregate amortization expense was $22.3 million in 2019, $25.3 million in 2018 and $27.6 million in 2017. Based on current levels of amortizable intangible assets and estimated weighted-average useful lives, estimated annual amortization expense is expected to be $21.4 million in 2020, $18.9 million in 2021, $15.4 million in 2022, $13.2 million in 2023, and $10.6 million in 2024.

Income Taxes

Income Taxes	12 Months Ended
Income Taxes	Dec. 28, 2019
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The source of earnings before income taxes and equity earnings consisted of the following: (Amounts in millions) 2019 2018 2017 United States $ 765.3 $ 735.4 $ 645.5 Foreign 156.8 174.5 176.4 Total $ 922.1 $ 909.9 $ 821.9 The provision (benefit) for income taxes consisted of the following: (Amounts in millions) 2019 2018 2017 Current: Federal $ 110.0 $ 117.9 $ 166.9 Foreign 38.1 52.4 41.1 State 29.5 30.4 30.6 Total current 177.6 200.7 238.6 Deferred: Federal 26.6 18.7 8.7 Foreign 1.5 (8.4) 2.9 State 6.1 3.4 0.7 Total deferred 34.2 13.7 12.3 Total income tax provision $ 211.8 $ 214.4 $ 250.9 The following is a reconciliation of the statutory federal income tax rate to Snap-on’s effective tax rate: 2019 2018 2017 Statutory federal income tax rate 21.0% 21.0% 35.0% Increase (decrease) in tax rate resulting from: State income taxes, net of federal benefit 2.9 2.9 2.4 Noncontrolling interests (0.4) (0.4) (0.6) Repatriation of foreign earnings (0.1) (0.1) (1.2) Change in valuation allowance for deferred tax assets 0.4 0.3 0.1 Adjustments to tax accruals and reserves (0.4) (0.2) (0.3) Foreign rate differences 0.4 0.4 (2.4) Domestic production activities deduction — — (2.1) Excess tax benefits related to equity compensation (0.5) (0.8) (1.4) U.S. tax reform, net impact — 0.4 0.9 Other (0.3) 0.1 0.1 Effective tax rate 23.0% 23.6% 30.5% Snap-on’s effective income tax rate on earnings attributable to Snap-on Incorporated was 23.4% in 2019, 24.0% in 2018, and 31.1% in 2017. The effective tax rate for 2019 and 2018 reflects the reduction of the U.S. federal corporate income tax rate from 35% to 21%; 2018 also included an additional non-recurring net tax charge attributable to the prior year’s U.S. tax reform changes. The effective tax rate for 2017 included a one-time net tax costs associated with the Tax Cuts and Jobs Act (the “Tax Act”), which was signed into law in the fourth quarter of 2017, as well as tax benefits associated with certain legal charges. On December 22, 2017, the U.S. government passed the Tax Act. The Tax Act made broad and complex changes to the U.S. tax code, including, but not limited to: (i) reducing the U.S. federal corporate tax rate from 35% to 21%; (ii) requiring companies to pay a one-time transition tax on certain unremitted earnings of foreign subsidiaries; and (iii) bonus depreciation that allows for full expensing of qualified property. The Tax Act also established new tax laws that affect years after 2017, including, but not limited to: (i) the reduction of the U.S. federal corporate tax rate discussed above; (ii) a general elimination of U.S. federal income taxes on dividends from foreign subsidiaries; (iii) a new provision designed to tax global intangible low-taxed income (“GILTI”); (iv) the repeal of the domestic production activity deductions; (v) limitations on the deductibility of certain executive compensation; (vi) limitations on the use of foreign tax credits to reduce the U.S. income tax liability; and (vii) a new provision that allows a domestic corporation an immediate deduction for a portion of its foreign derived intangible income (“FDII”). The Securities and Exchange Commission staff issued Staff Accounting Bulletin (“SAB”) 118, which provided guidance on accounting for the tax effects of the Tax Act, for the company’s year ended December 30, 2017. SAB 118 provided a measurement period that should not extend beyond one year from the Tax Act enactment date for companies to complete the related accounting under ASC 740, Accounting for Income Taxes . In accordance with SAB 118, a company must reflect the income tax effects of those aspects of the Tax Act for which the accounting under Accounting Standards Codification (“ASC”) 740 is complete. To the extent that a company’s accounting for a certain income tax effect of the Tax Act is incomplete, but it is able to determine a reasonable estimate, it must record a provisional estimate in the financial statements. If a company cannot determine a provisional estimate to be included in the financial statements, it should continue to apply ASC 740 on the basis of the provisions of the tax laws that were in effect immediately before the enactment of the Tax Act. The company’s accounting for certain elements of the Tax Act was incomplete as of December 30, 2017. However, the company was able to make reasonable estimates of the effects and, therefore, recorded provisional estimates for these items. In connection with its initial analysis of the impact of the Tax Act, the company recorded a provisional discrete net tax expense of $7.0 million in the fiscal year ended December 31, 2017. This provisional estimate consisted of a net expense of $13.7 million for the one-time transition tax and a net benefit of $6.7 million related to revaluation of deferred tax assets and liabilities, caused by the new lower corporate tax rate. To determine the transition tax, the company must determine the amount of post-1986 accumulated earnings and profits of the relevant subsidiaries, as well as the amount of non-U.S. income taxes paid on such earnings. While the company was able to make a reasonable estimate of the transition tax for 2017, it continued to gather additional information to more precisely compute the final amount reported on its 2017 U.S. federal tax return which was filed in October 2018. The actual transition tax was $8.3 million greater than the company’s initial estimate and was included in income tax expense for 2018. Likewise, while the company was able to make a reasonable estimate of the impact of the reduction to the corporate tax rate, it was affected by other analyses related to the Tax Act, including, but not limited to, the state tax effect of adjustments made to federal temporary differences. During 2018, the company recorded additional net tax benefits of $4.4 million attributable to pension contributions made in 2018 that were deductible for 2017 at the higher 35% federal tax rate and other changes to the 2017 tax provision related to the Tax Act and subsequently-issued tax guidance. Due to the complexity of the new GILTI tax rules, the company continued to evaluate this provision of the Tax Act and the application of ASC 740 throughout 2018. Under GAAP, the company is allowed to make an accounting policy choice to either: (i) treat taxes due on future U.S. inclusions in taxable income related to GILTI as a current-period expense when incurred (the “period cost method”); or (ii) factor in such amounts into a company’s measurement of its deferred taxes (the “deferred method”). The company selected to apply the “period cost method” to account for the new GILTI tax, and treated it as a current-period expense for 2019 and 2018. Temporary differences that give rise to the net deferred income tax asset as of 2019, 2018 and 2017 year end are as follows: (Amounts in millions) 2019 2018 2017 Deferred income tax assets (liabilities): Inventories $ 34.7 $ 33.6 $ 28.8 Accruals not currently deductible 62.4 72.9 61.7 Tax credit carryforward 2.0 1.8 2.1 Employee benefits 41.3 56.5 56.8 Net operating losses 40.4 40.9 44.0 Depreciation and amortization (178.9) (167.5) (161.3) Valuation allowance (27.8) (25.1) (25.2) Equity-based compensation 16.2 16.6 17.1 Undistributed non-U.S. earnings (6.6) (6.0) — Cash flow hedge — — (0.3) Other (0.7) (0.4) (0.1) Net deferred income tax asset (liability) $ (17.0) $ 23.3 $ 23.6 As of 2019 year end, Snap-on had tax net operating loss carryforwards totaling $209.6 million as follows: (Amounts in millions) State Federal Foreign Total Year of expiration: 2020-2024 $ 0.3 $ — $ 59.0 $ 59.3 2025-2029 — — 9.4 9.4 2030-2034 74.4 — — 74.4 2035-2039 — — — — 2040-2044 — — 34.1 34.1 Indefinite — — 32.4 32.4 Total net operating loss carryforwards $ 74.7 $ — $ 134.9 $ 209.6 A valuation allowance totaling $27.8 million, $25.1 million and $25.2 million as of 2019, 2018 and 2017 year end, respectively, has been established for deferred income tax assets primarily related to certain subsidiary loss carryforwards that may not be realized. Realization of the net deferred income tax assets is dependent on generating sufficient taxable income prior to their expiration. Although realization is not assured, management believes it is more-likely-than-not that the net deferred income tax assets will be realized. The amount of the net deferred income tax assets considered realizable, however, could change in the near term if estimates of future taxable income during the carryforward period fluctuate. The following is a reconciliation of the beginning and ending amounts of unrecognized tax benefits for 2019, 2018 and 2017: (Amounts in millions) 2019 2018 2017 Unrecognized tax benefits at beginning of year $ 11.1 $ 7.7 $ 9.4 Gross increases – tax positions in prior periods — 1.3 1.4 Gross decreases – tax positions in prior periods (0.6) (0.1) — Gross increases – tax positions in the current period 0.5 2.8 1.0 Settlements with taxing authorities — — (3.6) Lapsing of statutes of limitations (0.7) (0.6) (0.5) Unrecognized tax benefits at end of year $ 10.3 $ 11.1 $ 7.7 The unrecognized tax benefits of $10.3 million, $11.1 million and $7.7 million as of 2019, 2018 and 2017 year end, respectively, would impact the effective income tax rate if recognized. As of December 28, 2019, unrecognized tax benefits of $1.2 million and $9.1 million were included in “Deferred income tax assets” and “Other long-term liabilities,” respectively, on the accompanying Consolidated Balance Sheets. Interest and penalties related to unrecognized tax benefits are recorded in income tax expense. As of 2019, 2018 and 2017 year end, the company had provided for $1.1 million, $0.8 million and $0.6 million, respectively, of accrued interest and penalties related to unrecognized tax benefits. During 2019, the company increased the reserve attributable to interest and penalties associated with unrecognized tax benefits by a net $0.3 million. As of December 28, 2019, $1.1 million of accrued interest and penalties were included in “Other long-term liabilities” on the accompanying Consolidated Balance Sheets. 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 $2.4 million. Over the next 12 months, Snap-on anticipates taking certain tax positions on various tax returns for which the related tax benefit does not meet the recognition threshold. Accordingly, Snap-on’s gross unrecognized tax benefits may increase by a range of zero to $0.9 million over the next 12 months for uncertain tax positions expected to be taken in future tax filings. With few exceptions, Snap-on is no longer subject to U.S. federal and state/local income tax examinations by tax authorities for years prior to 2014, and Snap-on is no longer subject to non-U.S. income tax examinations by tax authorities for years prior to 2012. In general, it is Snap-on’s practice and intention to reinvest certain earnings of its non-U.S. subsidiaries in those operations. As of 2019 year end, the company has not made a provision for incremental U.S. income taxes or additional foreign withholding taxes on approximately $271.8 million of such undistributed earnings that is deemed indefinitely reinvested. Determination of the amount of unrecognized deferred tax liability related to these earnings is not practicable. As a result of the Tax Act, which subjected the majority of the company’s undistributed foreign earnings to taxation for the 2017 tax year, the company can now repatriate non-U.S. cash in a tax efficient manner. Accordingly, the company has reversed its prior assertion concerning the indefinite reinvestment of the majority of its undistributed foreign earnings and has recorded a deferred tax liability of $6.6 million for the incremental tax costs associated with the future potential repatriation of such earnings.

Short-term and Long-term Debt

Short-term and Long-term Debt	12 Months Ended
Short-term and Long-term Debt	Dec. 28, 2019
Debt Disclosure [Abstract]
Short-term and Long-term Debt	Short-term and Long-term Debt Short-term and long-term debt as of 2019 and 2018 year end consisted of the following: (Amounts in millions) 2019 2018 6.125% unsecured notes due 2021 $ 250.0 $ 250.0 3.25% unsecured notes due 2027 300.0 300.0 4.10% unsecured notes due 2048 400.0 400.0 Other debt* 199.8 182.3 1,149.8 1,132.3 Less: notes payable: Commercial paper borrowings $ (193.6) $ (177.1) Other notes (9.3) (9.2) (202.9) (186.3) Total long-term debt $ 946.9 $ 946.0 * Includes the net effects of debt amortization costs and fair value adjustments related to interest rate swaps. The annual maturities of Snap-on’s long-term debt and notes payable over the next five years are $202.9 million in 2020, $250 million in 2021, and no maturities in 2022, 2023 and 2024. Average notes payable outstanding, including commercial paper borrowings, were $175.0 million and $167.7 million in 2019 and 2018, respectively. The 2019 year end weighted-average interest rate on such borrowings of 2.87% compared with 2.84% at 2018 year end. Average commercial paper borrowings were $162.2 million and $154.9 million in 2019 and 2018, respectively, and the weighted-average interest rate of 2.27% on such borrowings in 2019 increased from 2.03% last year. At 2019 year end, the weighted-average interest rate on outstanding notes payable of 2.23% compared with 3.21% at 2018 year end. The 2019 year end rate decreased primarily due to lower rates on commercial paper borrowings. On February 20, 2018, Snap-on commenced a tender offer to repurchase $200 million in principal amount of its unsecured 6.70% notes that were scheduled to mature on March 1, 2019 (the “2019 Notes”), with $26.1 million of the 2019 Notes tendered and repaid on February 27, 2018. On February 20, 2018, Snap-on also issued a notice of redemption for remaining outstanding 2019 Notes not tendered, with the redemption completed on March 22, 2018. The total cash cost for this tender and redemption was $209.1 million, including accrued interest of $1.5 million. Snap-on recorded $7.8 million for the loss on the early extinguishment of debt related to the 2019 Notes, which included the redemption premium and other issuance costs associated with this debt in “Other income (expense) - net” on the accompanying Consolidated Statement of Earnings. See Note 17 for additional information on Other income (expense) - net. On February 20, 2018, Snap-on sold, at a discount, $400 million of unsecured 4.10% long-term notes that mature on March 1, 2048 (the “2048 Notes”). Interest on the 2048 Notes accrues at a rate of 4.10% per year and is payable semi-annually. Snap-on used a portion of the $395.4 million of net proceeds from the sale of the 2048 Notes, reflecting $3.5 million of transaction costs, to repay the 2019 Notes. The remaining net proceeds were used to repay a portion of its then-outstanding commercial paper borrowings and for general corporate purposes. On September 16, 2019, Snap-on entered into a five Borrowings under the Credit Facility bear interest at varying rates based on either: (i) Snap-on’s then-current, long-term debt ratings; or (ii) Snap-on’s then-current ratio of consolidated debt net of certain cash adjustments (“Consolidated Net Debt”) to earnings before interest, taxes, depreciation, amortization and certain other adjustments for the preceding four fiscal quarters then ended (the “Consolidated Net Debt to EBITDA Ratio”). The Credit Facility’s financial covenant requires that Snap-on maintain, as of each fiscal quarter end, either: (i) a ratio not greater than 0.60 to 1.00 of Consolidated Net Debt to the sum of Consolidated Net Debt plus total equity and less accumulated other comprehensive income or loss (the “Leverage Ratio”); or (ii) a Consolidated Net Debt to EBITDA Ratio not greater than 3.50 to 1.00. Snap-on may, up to two times during any five-year period during the term of the Credit Facility (including any extensions thereof), elect to increase the maximum Leverage Ratio to 0.65 to 1.00 and/or increase the maximum Consolidated Net Debt to EBITDA Ratio to 4.00 to 1.00 for four consecutive fiscal quarters in connection with certain material acquisitions (as defined in the related credit agreement). As of December 28, 2019, the company’s actual ratios of 0.20 and 0.92 respectively, were both within the permitted ranges set forth in this financial covenant. Snap-on generally issues commercial paper to fund its financing needs on a short-term basis and uses the Credit Facility as back-up liquidity to support such commercial paper issuances.

Financial Instruments

Financial Instruments	12 Months Ended
Financial Instruments	Dec. 28, 2019
Investments, All Other Investments [Abstract]
Financial Instruments	Financial Instruments Derivatives: All derivative instruments are reported in the Consolidated Financial Statements at fair value. Changes in the fair value of derivatives are recorded each period in earnings or on the accompanying Consolidated Balance Sheets, depending on whether the derivative is designated and effective as part of a hedged transaction. Gains or losses on derivative instruments recorded in earnings are presented in the same Consolidated Statement of Earnings line that is used to present the earnings effect of the hedged item. Gains or losses on derivative instruments in accumulated other comprehensive income (loss) (“Accumulated OCI”) are reclassified to earnings in the period in which earnings are affected by the underlying hedged item. The criteria used to determine if hedge accounting treatment is appropriate are: (i) the designation of the hedge to an underlying exposure; (ii) whether or not overall risk is being reduced; and (iii) if there is a correlation between the value of the derivative instrument and the underlying hedged item. Once a derivative contract is entered into, Snap-on designates the derivative as a fair value hedge, a cash flow hedge, a hedge of a net investment in a foreign operation, or a natural hedging instrument whose change in fair value is recognized as an economic hedge against changes in the value of the hedged item. Snap-on does not use derivative instruments for speculative or trading purposes. 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 has significant international operations and is subject to certain risks inherent with foreign operations that include currency fluctuations. Foreign currency exchange risk exists to the extent that Snap-on has payment obligations or receipts denominated in currencies other than the functional currency, including intercompany loans denominated in foreign currencies. To manage these exposures, Snap-on identifies naturally offsetting positions and then purchases hedging instruments to protect the residual net exposures. Snap-on manages most of these exposures on a consolidated basis, which allows for netting of certain exposures to take advantage of natural offsets. Foreign currency forward contracts (“foreign currency forwards”) are used to hedge the net exposures. Gains or losses on net foreign currency hedges are intended to offset losses or gains on the underlying net exposures in an effort to reduce the earnings volatility resulting from fluctuating foreign currency exchange rates. Snap-on’s foreign currency forwards are typically not designated as hedges. The fair value changes of these contracts are reported in earnings as foreign exchange gain or loss, which is included in “Other income (expense) - net” on the accompanying Consolidated Statements of Earnings. See Note 17 for additional information on Other income (expense) - net. As of 2019 year end, Snap-on had $33.2 million of net foreign currency forward buy contracts outstanding comprised of buy contracts including $41.4 million in euros, $34.5 million in Swedish kronor, $17.4 million in Hong Kong dollars, $13.1 million in Chinese renminbi, $13.0 million in Singapore dollars, $6.0 million in Norwegian kroner, and $7.0 million in other currencies, and sell contracts comprised of $52.9 million in British pounds, $17.5 million in Canadian dollars, $10.0 million in Indian rupees, $9.6 million in Japanese yen, and $9.2 million in other currencies. As of 2018 year end, Snap-on had $26.3 million of net foreign currency forward buy contracts outstanding comprised of buy contracts including $26.7 million in euros, $23.6 million in Swedish kronor, $21.0 million in Hong Kong dollars, $10.2 million in Chinese renminbi, $8.6 million in Singapore dollars, $7.0 million in South Korean won, $6.3 million in Norwegian kroner, and $5.1 million in other currencies, and sell contracts comprised of $37.4 million in British pounds, $14.6 million in Canadian dollars, $11.0 million in Japanese yen, $8.2 million in Indian rupees, $4.1 million in Australian dollars, $3.1 million in Thai baht, and $3.8 million in other currencies. Interest rate risk management: Snap-on aims to control funding costs by managing the exposure created by the differing maturities and interest rate structures of Snap-on’s borrowings through the use of interest rate swap agreements (“interest rate swaps”) and treasury lock agreements (“treasury locks”). Interest rate swaps: Snap-on 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 Consolidated Statements of Earnings. The change in fair value of the designated and qualifying derivative is recorded in “Long-term debt” on the accompanying Consolidated Balance Sheets. The notional amount of interest rate swaps outstanding and designated as fair value hedges was $100 million as of both 2019 and 2018 year end. Consolidated Balance Sheets Line Item Where Hedge Item is Recorded Carrying Amount of the Hedged Assets/(Liabilities) Cumulative Amount of Fair Value Hedging Adjustment Included in the Carrying Amount of the Hedged Assets/(Liabilities) (in millions) (in millions) 2019 2018 2019 2018 Long-term debt (1) ($255.0) ($254.6) ($5.0) ($4.6) (1) The interest rate swap transacted in March 2010 was designated as a hedge of the first $100 million issuance of the $250 million, 6.125% unsecured notes due in 2021. Treasury locks: Snap-on uses treasury locks to manage the potential change in interest rates in anticipation of the issuance of fixed rate debt. Treasury locks are accounted for as cash flow hedges. The differentials to be paid or received on treasury locks related to the anticipated issuance of fixed rate debt are initially recorded in Accumulated OCI for derivative instruments that are designated and qualify as cash flow hedges. Upon the issuance of debt, the related amount in Accumulated OCI is released over the term of the debt and recognized as an adjustment to interest expense on the Consolidated Statements of Earnings. Snap-on entered into a $300 million treasury lock in the fourth quarter of 2017 to manage changes in interest rates in anticipation of the issuance of fixed rate debt in the first quarter of 2018. In the first quarter of 2018, Snap-on settled the outstanding $300 million treasury lock after it was deemed to be an ineffective hedge related to the 2048 Notes, which were issued in February 2018. The $13.3 million gain on the settlement of the treasury lock was recorded in “Other income (expense) - net” on the accompanying Consolidated Statements of Earnings. There were no treasury locks outstanding as of both December 28, 2019 and December 29, 2018. See Note 17 for additional information on Other income (expense) - net. Stock-based deferred compensation risk management: Snap-on aims to manage market risk associated with the stock-based portion of its deferred compensation plans through the use of prepaid equity forward agreements (“equity forwards”). Equity forwards are used to aid in offsetting the potential mark-to-market effect on stock-based deferred compensation from changes in Snap-on’s stock price. Since stock-based deferred compensation liabilities increase as the company’s stock price rises and decrease as the company’s stock price declines, the equity forwards are intended to mitigate the potential impact on deferred compensation expense that may result from such mark-to-market changes. As of 2019 and 2018 year end, Snap-on had equity forwards in place intended to manage market risk with respect to 89,600 shares and 99,100 shares, respectively, of Snap-on common stock associated with its deferred compensation plans. Counterparty risk: Snap-on is exposed to credit losses in the event of non-performance by the counterparties to its various financial agreements, including its foreign currency forward contracts, interest rate swap agreements, treasury lock agreements and prepaid equity forward agreements. Snap-on does not obtain collateral or other security to support financial instruments subject to credit risk, but monitors the credit standing of the counterparties and generally enters into agreements with financial institution counterparties with a credit rating of A- or better. Snap-on does not anticipate non-performance by its counterparties, but cannot provide assurances. Fair value measurements: The fair value measurement hierarchy prioritizes the inputs used to measure fair value. The hierarchy gives the highest priority (“Level 1”) to unadjusted quoted prices in active markets for identical assets and liabilities and the lowest priority (“Level 3”) to unobservable inputs. Fair value measurements primarily based on observable market information are given a “Level 2” priority. Snap-on has derivative assets and liabilities related to interest rate swaps, treasury locks, foreign currency forwards and equity forwards that are measured at Level 2 fair value on a recurring basis. The fair values of derivative instruments included within the accompanying Consolidated Balance Sheets as of 2019 and 2018 year end are as follows: 2019 2018 (Amounts in millions) Balance Sheet Derivative Derivative Derivative Derivative Derivatives designated as hedging instruments: Interest rate swaps Other assets $ 5.0 $ — $ 4.6 $ — Derivatives not designated as hedging instruments: Foreign currency forwards Prepaid expenses and other assets $ 3.5 $ — $ 2.8 $ — Foreign currency forwards Other accrued liabilities — 4.6 — 3.2 Equity forwards Prepaid expenses and other assets 15.2 — 14.3 — 18.7 4.6 17.1 3.2 Total derivative instruments $ 23.7 $ 4.6 $ 21.7 $ 3.2 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. Interest rate swaps are valued based on the six-month LIBOR swap rate for similar instruments. Foreign currency forwards are valued based on exchange rates quoted by domestic and foreign banks 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 its 2019 and 2018 years ended. The effect of derivative instruments designated as cash flow hedges as included in the Accumulated OCI on the Consolidated Balance Sheets is as follows: Amount of Gain (Loss) Recognized in Other Comprehensive Income on Derivative (Amounts in millions) 2019 2018 2017 Derivatives in Hedging Relationships Treasury locks $ — $ (0.8) $ 6.9 The effect of derivative instruments designated as fair value and cash flow hedges as included in the Consolidated Statements of Earnings is as follows: Gain (Loss) Recognized in Income on Fair Value and Cash Flow Hedging Relationships 2019 2018 2017 (Amounts in millions) Interest expense Other income (expense) - net Interest expense Other income (expense) - net Interest expense Other income (expense) - net Total amounts of income and expense presented in the Consolidated Statements of Earnings $ (49.0) $ 8.8 $ (50.4) $ 4.2 $ (52.4) $ (7.8) Gain (loss) on fair value hedging relationships Interest rate swaps Long-term debt $ (15.4) $ — $ (15.4) $ — $ (15.4) $ — Derivatives designated as hedging instruments 2.0 — 1.5 — 2.8 — Gain (loss) on cash flow hedging relationships Treasury locks Gain reclassified from accumulated OCI into income $ 1.5 $ — $ 1.5 $ — $ 1.6 $ — Gain on settlement — — — 13.3 — — As of 2019 year end, the maximum maturity date of any fair value hedge was two years. During the next 12 months, Snap-on expects to reclassify into earnings net gains from Accumulated OCI of approximately $1.1 million after tax at the time the underlying hedge transactions are realized. The effects of derivative instruments not designated as hedging instruments as included in the Consolidated Statements of Earnings are as follows: Derivatives not designated as hedging instruments Statement of Gain (Loss) Recognized in (Amounts in millions) 2019 2018 2017 Gain (loss) on derivative relationships Foreign currency forwards Other income $ (20.0) $ (40.4) $ (25.8) Net exposures Other income 16.4 36.5 18.8 Equity forwards Operating expenses $ 3.0 $ (2.1) $ 0.9 Stock-based deferred compensation liabilities Operating expenses (3.0) 2.0 (0.8) 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 Consolidated Statements of Earnings. See Note 17 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 Consolidated Statements of Earnings. Fair value of financial instruments: The fair values of financial instruments that do not approximate the carrying values in the financial statements as of 2019 and 2018 year end are as follows: 2019 2018 (Amounts in millions) Carrying Fair Carrying Fair Finance receivables – net $ 1,633.6 $ 1,920.6 $ 1,592.9 $ 1,845.4 Contract receivables – net 460.8 505.5 443.2 481.2 Long-term debt and notes payable 1,149.8 1,238.8 1,132.3 1,136.0 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 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	12 Months Ended
Pension Plans	Dec. 28, 2019
Retirement Benefits [Abstract]
Pension Plans	Pension Plans Snap-on has several non-contributory defined benefit pension plans covering most U.S. employees and certain employees in foreign countries. Snap-on also has foreign contributory defined benefit pension plans covering certain foreign employees. Retirement benefits are generally provided based on employees’ years of service and average earnings or stated amounts for years of service. Normal retirement age is 65, with provisions for earlier retirement. The status of Snap-on’s pension plans as of 2019 and 2018 year end is as follows: (Amounts in millions) 2019 2018 Change in projected benefit obligation: Benefit obligation at beginning of year $ 1,386.9 $ 1,467.6 Service cost 23.5 25.1 Interest cost 56.4 52.8 Plan participant contributions 0.5 0.5 Plan amendments — 1.0 Benefits paid (73.0) (68.5) Actuarial (gain) loss 169.5 (77.9) Foreign currency impact 1.8 (13.7) Benefit obligation at end of year $ 1,565.6 $ 1,386.9 (Amounts in millions) 2019 2018 Change in plan assets: Fair value of plan assets at beginning of year $ 1,215.6 $ 1,305.0 Actual (loss) gain on plan assets 258.7 (72.8) Employer contributions 50.8 61.3 Plan participant contributions 0.4 0.5 Benefits paid (73.0) (68.5) Foreign currency impact 3.0 (9.9) Fair value of plan assets at end of year $ 1,455.5 $ 1,215.6 Unfunded status at end of year $ (110.1) $ (171.3) The increase in the defined benefit pension plans benefit obligations in 2019 was primarily due to a decrease in the discount rate in 2019 as compared to 2018. Amounts recognized in the Consolidated Balance Sheets as of 2019 and 2018 year end are as follows: (Amounts in millions) 2019 2018 Other assets $ 17.3 $ 4.3 Accrued benefits (5.3) (4.3) Pension liabilities (122.1) (171.3) Net liability $ (110.1) $ (171.3) Amounts included in Accumulated OCI on the accompanying Consolidated Balance Sheets as of 2019 and 2018 year end are as follows: (Amounts in millions) 2019 2018 Net loss, net of tax of $104.8 million and $158.8 million, respectively $ (333.8) $ (301.9) Prior service cost, net of tax of ($0.1) million and $0.4 million, respectively (0.6) (0.2) Total amount included in Accumulated OCI $ (334.4) $ (302.1) The accumulated benefit obligation for Snap-on’s pension plans as of 2019 and 2018 year end was $1,478.0 million and $1,316.1 million, respectively. The projected benefit obligation, accumulated benefit obligation and fair value of plan assets for Snap-on’s pension plans as of 2019 and 2018 year end are as follows: (Amounts in millions) 2019 2018 Pension plans with accumulated benefit obligations in excess of plan assets: Accumulated benefit obligation $ 231.0 $ 1,028.6 Fair value of plan assets 126.5 916.2 Pension plans with projected benefit obligations in excess of plans assets: Projected benefit obligation $ 1,336.9 $ 1,183.2 Fair value of plan assets 1,209.5 1,007.6 The components of net periodic benefit cost and changes recognized in “Other comprehensive income (loss)” (“OCI”) are as follows: (Amounts in millions) 2019 2018 2017 Net periodic benefit cost: Service cost $ 23.5 $ 25.1 $ 22.7 Interest cost 56.4 52.8 56.1 Expected return on plan assets (91.5) (88.6) (83.4) Amortization of unrecognized loss 25.2 32.7 27.9 Amortization of prior service credit (0.9) (1.2) (1.1) Settlement loss — — 0.1 Net periodic benefit cost $ 12.7 $ 20.8 $ 22.3 Changes in benefit obligations recognized in OCI, net of tax: Net (gain) loss $ 31.9 $ 35.2 $ (30.3) Prior service cost 0.4 1.7 0.7 Total recognized in OCI $ 32.3 $ 36.9 $ (29.6) The components of net periodic pension cost, other than the service cost component, are included in “Other income (expense) - net” on the accompanying Consolidated Statements of Earnings. See Note 17 for additional information on Other income (expense) - net. The worldwide weighted-average assumptions used to determine Snap-on’s full-year pension costs are as follows: 2019 2018 2017 Discount rate 4.2% 3.7% 4.2% Expected return on plan assets 7.1% 7.1% 7.2% Rate of compensation increase 3.4% 3.4% 3.4% The worldwide weighted-average assumptions used to determine Snap-on’s projected benefit obligation as of 2019 and 2018 year end are as follows: 2019 2018 Discount rate 3.2% 4.4% Rate of compensation increase 3.4% 3.4% Interest crediting rate - U.S. cash balance plan 3.8% 3.8% The objective of Snap-on’s discount rate assumption is to reflect the rate at which the pension benefits could be effectively settled. In making this determination, the company takes into account the timing and amount of benefits that would be available under the plans. The domestic discount rate as of 2019 and 2018 year end was selected based on a cash flow matching methodology developed by the company’s outside actuaries and which incorporates a review of current economic conditions. This methodology matches the plans’ yearly projected cash flows for benefits and service costs to those of hypothetical bond portfolios using high-quality, AA rated or better, corporate bonds from either Moody’s Investors Service or Standard & Poor’s credit rating agencies available at the measurement date. This technique calculates bond portfolios that produce adequate cash flows to pay the plans’ projected yearly benefits and then selects the portfolio with the highest yield and uses that yield as the recommended discount rate. The weighted-average discount rate for Snap-on’s domestic pension plans of 3.4% represents the single rate that produces the same present value of cash flows as the estimated benefit plan payments. Lowering Snap-on’s domestic discount rate assumption by 50 basis points (100 basis points (“bps”) equals 1.0 percent) would have increased Snap-on’s 2019 domestic pension expense and projected benefit obligation by approximately $4.3 million and $74.2 million, respectively. As of 2019 year end, Snap-on’s domestic projected benefit obligation comprised approximately 83% of Snap-on’s worldwide projected benefit obligation. The weighted-average discount rate for Snap-on’s foreign pension plans of 2.1% represents the single rate that produces the same present value of cash flows as the estimated benefit plan payments. Lowering Snap-on’s foreign discount rate assumption by 50 bps would have increased Snap-on’s 2019 foreign pension expense and projected benefit obligation by approximately $1.6 million and $26.8 million, respectively. Actuarial gains and losses in excess of 10 percent of the greater of the projected benefit obligation or market-related value of assets are amortized on a straight-line basis over the average remaining service period of active participants or over the average remaining life expectancy for plans with primarily inactive participants. Prior service costs and credits resulting from plan amendments are amortized in equal annual amounts over the average remaining service period of active participants or over the average remaining life expectancy for plans with primarily inactive participants. As a practical expedient, Snap-on uses the calendar year end as the measurement date for its plans. Snap-on funds its pension plans as required by governmental regulation and may consider discretionary contributions as conditions warrant. Snap-on intends to make contributions of $8.7 million to its foreign pension plans and $2.9 million to its domestic pension plans in 2020, as required by law. Depending on market and other conditions, Snap-on may make discretionary cash contributions to its pension plans in 2020. The following benefit payments, which reflect expected future service, are expected to be paid as follows: (Amounts in millions) Amount Year: 2020 $ 81.7 2021 84.3 2022 95.1 2023 91.3 2024 94.6 2025-2029 498.9 Snap-on’s domestic pension plans have a long-term investment horizon and a total return strategy that emphasizes a capital growth objective. The long-term investment performance objective for Snap-on’s domestic plans’ assets is to achieve net of expense returns that meet or exceed the 7.25% domestic long-term return on plan assets assumption used for reporting purposes. Snap-on uses a three-year, market-related value asset method of amortizing the difference between actual and expected returns on its domestic plans’ assets. As of 2019 year end, Snap-on’s domestic pension plans’ assets comprised approximately 87% of the company’s worldwide pension plan assets. The basis for determining the overall expected long-term return on plan assets assumption is a nominal returns forecasting method. For each asset class, future returns are estimated by identifying the premium of riskier asset classes over lower risk alternatives. The methodology constructs expected returns using a “building block” approach to the individual components of total return. These forecasts are stated in both nominal and real (after inflation) terms. This process first considers the long-term historical return premium based on the longest set of data available for each asset class. These premiums, which are calculated using the geometric mean, are then adjusted based on current relative valuation levels, macro-economic conditions, and the expected alpha related to active investment management. The asset return assumption is also adjusted by an implicit expense load for estimated administrative and investment-related expenses. For risk and correlation assumptions, the actual experience for each asset class is reviewed for the longest time period available. Expected relationships for a 10 to 20 year time horizon are determined based upon historical results, with adjustments made for material changes. Investments are diversified to attempt to minimize the risk of large losses. Since asset allocation is a key determinant of expected investment returns, assets are periodically rebalanced to the targeted allocation to correct significant deviations from the asset allocation policy that are caused by market fluctuations and cash flow. Asset/liability studies are conducted periodically to determine if any revisions to the strategic asset allocation policy are necessary. Snap-on’s domestic pension plans’ target allocation and actual weighted-average asset allocation by asset category and fair value of plan assets as of 2019 and 2018 year end are as follows: Target 2019 2018 Asset category: Equity securities 51% 51% 49% Debt securities and cash and cash equivalents 37% 40% 40% Real estate and other real assets 2% 1% 1% Hedge funds 10% 8% 10% Total 100% 100% 100% Fair value of plan assets (Amounts in millions) $1,260.5 $1,049.0 The fair value measurement hierarchy prioritizes the inputs used to measure fair value. The hierarchy gives the highest priority (Level 1) to unadjusted quoted prices in active markets for identical assets and liabilities and the lowest priority (Level 3) to unobservable inputs. Fair value measurements primarily based on observable market information are given a Level 2 priority. Certain equity and debt securities are valued at quoted per share or unit market prices for which an official close or last trade pricing on an active exchange is available and are categorized as Level 1 in the fair value hierarchy. If quoted market prices are not readily available for specific securities, values are estimated using quoted prices of securities with similar characteristics and are categorized as Level 2 in the fair value hierarchy. Insurance contracts are valued at the present value of the estimated future cash flows promised under the terms of the insurance contracts and are categorized as Level 2 in the fair value hierarchy. Commingled equity securities and commingled multi-strategy funds are valued at the Net Asset Value (“NAV”) per share or unit multiplied by the number of shares or units held as of the measurement date, as reported by the fund managers. The share or unit price is quoted on a private market and is based on the value of the underlying investments, which are primarily based on observable inputs; such investments that are measured at fair value using the NAV per share (or its equivalent) practical expedient have not been classified in the fair value hierarchy. Private equity partnership funds, hedge funds, and real estate and other real assets are valued at the NAV as reported by the fund managers. Private equity partnership funds, certain hedge funds, and certain real estate and other real assets are valued based on the proportionate interest or share of net assets held by the pension plan, which is based on the estimated fair market value of the underlying investments. Certain other hedge funds and real estate and other real assets are valued at the NAV per share or unit multiplied by the number of shares or units held as of the measurement date, based on the estimated value of the underlying investments as reported by the fund managers. These investments are measured at fair value using the NAV per share (or its equivalent) practical expedient and have not been classified in the fair value hierarchy. The company regularly reviews fund performance directly with its investment advisor and the fund managers, and performs qualitative analysis to corroborate the reasonableness of the reported NAVs. For funds for which the company did not receive a year-end NAV, the company recorded an estimate of the change in fair value for the latest period based on return estimates and other fund activity obtained from the fund managers. The columns labeled “Investments Measured at NAV” in the following tables reflect certain investments that are measured at fair value using the NAV per share (or its equivalent) practical expedient and have not been categorized in the fair value hierarchy. The fair value amounts presented in these tables are intended to permit a reconciliation of the fair value hierarchy to the pension plan assets. The following is a summary, by asset category, of the fair value and the level within the fair value hierarchy of Snap-on’s domestic pension plans’ assets as of 2019 year end: (Amounts in millions) Quoted Significant Investments Total Asset category: Cash and cash equivalents $ 25.6 $ — $ — $ 25.6 Equity securities: Domestic 95.1 — — 95.1 Foreign 58.4 — — 58.4 Commingled funds – domestic — — 263.6 263.6 Commingled funds – foreign — — 209.4 209.4 Private equity partnerships — — 17.4 17.4 Debt securities: Government 144.0 2.7 — 146.7 Corporate bonds — 327.7 — 327.7 Real estate and other real assets — — 8.8 8.8 Hedge funds — — 107.8 107.8 Total $ 323.1 $ 330.4 $ 607.0 $ 1,260.5 The following is a summary, by asset category, of the fair value and the level within the fair value hierarchy of Snap-on’s domestic pension plans’ assets as of 2018 year end: (Amounts in millions) Quoted Significant Investments Total Asset category: Cash and cash equivalents $ 17.8 $ — $ — $ 17.8 Equity securities: Domestic 70.5 — — 70.5 Foreign 87.5 — — 87.5 Commingled funds – domestic — — 200.6 200.6 Commingled funds – foreign — — 128.4 128.4 Private equity partnerships — — 22.7 22.7 Debt securities: Government 131.2 2.6 — 133.8 Corporate bonds — 271.3 — 271.3 Real estate and other real assets — — 11.9 11.9 Hedge funds — — 104.5 104.5 Total $ 307.0 $ 273.9 $ 468.1 $ 1,049.0 Snap-on’s primary investment objective for its foreign pension plans’ assets is to meet the projected obligations to the beneficiaries over a long period of time, and to do so in a manner that is consistent with the company’s risk tolerance. The foreign asset allocation policies consider the company’s financial strength and long-term asset class risk/return expectations, since the obligations are long term in nature. The company believes the foreign pension plans’ assets, which are managed locally by professional investment firms, are well diversified. The expected long-term rates of return on foreign plans’ assets, which range from 1.3% to 5.7% as of 2019 year end, reflect management’s expectations of long-term average rates of return on funds invested to provide benefits included in the plans’ projected benefit obligation. The expected returns are based on outlooks for inflation, fixed income returns and equity returns, asset allocations and investment strategies. Differences between actual and expected returns on foreign pension plans’ assets are recorded as an actuarial gain or loss and amortized accordingly. Snap-on’s foreign pension plans’ target allocation and actual weighted-average asset allocation by asset category and fair value of plan assets as of 2019 and 2018 year end are as follows: Target 2019 2018 Asset category: Equity securities* 46% 46% 35% Debt securities* and cash and cash equivalents 40% 40% 42% Insurance contracts and hedge funds 14% 14% 23% Total 100% 100% 100% Fair value of plan assets (Amounts in millions) $195.0 $166.6 * Includes commingled funds - multi-strategy The following is a summary, by asset category, of the fair value and the level within the fair value hierarchy of Snap-on’s foreign pension plans’ assets as of 2019 year end: (Amounts in millions) Quoted Significant Investments Total Asset category: Cash and cash equivalents $ 0.9 $ — $ — $ 0.9 Commingled funds – multi-strategy — — 135.5 135.5 Debt securities: Government 10.1 — — 10.1 Corporate bonds — 21.4 — 21.4 Insurance contracts — 27.1 — 27.1 Total $ 11.0 $ 48.5 $ 135.5 $ 195.0 The following is a summary, by asset category, of the fair value and the level within the fair value hierarchy of Snap-on’s foreign pension plans’ assets as of 2018 year end: (Amounts in millions) Quoted Significant Investments Total Asset category: Cash and cash equivalents $ 1.2 $ — $ — $ 1.2 Commingled funds – multi-strategy — — 101.5 101.5 Debt securities: Government 8.3 — — 8.3 Corporate bonds — 17.5 — 17.5 Insurance contracts — 23.8 — 23.8 Hedge fund — — 14.3 14.3 Total $ 9.5 $ 41.3 $ 115.8 $ 166.6

Postretirement Plans

Postretirement Plans	12 Months Ended
Postretirement Plans	Dec. 28, 2019
Retirement Benefits [Abstract]
Postretirement Plans	Postretirement Plans Snap-on provides health care benefits for certain retired U.S. employees. Employees retiring prior to 1989 were eligible for retiree medical coverage upon reaching early retirement age, with no retiree contributions required. Benefits are paid based on deductibles and percentages of covered expenses and take into consideration payments made by Medicare and other insurance coverage. Since 1989, U.S. retirees have been eligible for comprehensive major medical plans. Benefits are paid based on deductibles and percentages of covered expenses, and plan provisions allow for benefit and coverage changes. Most retirees are required to pay the entire cost of the coverage, but Snap-on may elect to subsidize the cost of coverage under certain circumstances. Snap-on has a Voluntary Employees Beneficiary Association (“VEBA”) trust for the funding of existing postretirement health care benefits for certain non-salaried retirees in the United States; all other retiree health care plans are unfunded. The status of Snap-on’s U.S. postretirement health care plans as of 2019 and 2018 year end is as follows: (Amounts in millions) 2019 2018 Change in accumulated postretirement benefit obligation: Benefit obligation at beginning of year $ 46.8 $ 52.5 Interest cost 1.9 1.8 Plan participant contributions 0.3 0.3 Benefits paid (4.2) (4.5) Actuarial (gain) loss 4.4 (3.3) Benefit obligation at end of year $ 49.2 $ 46.8 Change in plan assets: Fair value of plan assets at beginning of year $ 12.1 $ 13.4 Actual return on plan assets 1.5 (0.2) Employer contributions 3.1 3.1 Plan participant contributions 0.3 0.3 Benefits paid (4.2) (4.5) Fair value of plan assets at end of year $ 12.8 $ 12.1 Unfunded status at end of year $ (36.4) $ (34.7) Amounts recognized in the Consolidated Balance Sheets as of 2019 and 2018 year end are as follows: (Amounts in millions) 2019 2018 Accrued benefits $ (2.8) $ (2.9) Retiree health care benefits (33.6) (31.8) Net liability $ (36.4) $ (34.7) Amounts included in Accumulated OCI on the accompanying Consolidated Balance Sheets as of 2019 and 2018 year end are as follows: (Amounts in millions) 2019 2018 Net gain, net of tax of $1.1 million and $3.1 million, respectively $ 3.2 $ 5.6 The components of net periodic benefit cost and changes recognized in OCI are as follows: (Amounts in millions) 2019 2018 2017 Net periodic benefit cost: Interest cost $ 1.9 $ 1.8 $ 2.1 Expected return on plan assets (0.7) (0.8) (0.8) Amortization of unrecognized gain (0.8) (0.4) (0.3) Net periodic benefit cost $ 0.4 $ 0.6 $ 1.0 Changes in benefit obligations recognized in OCI, net of tax: Net (gain) loss $ 2.4 $ (1.4) $ 0.6 The components of net periodic postretirement health care cost, other than the service cost component, are included in “Other income (expense) - net” on the accompanying Consolidated Statements of Earnings. See Note 17 for additional information on Other income (expense) - net. The weighted-average discount rate used to determine Snap-on’s postretirement health care expense is as follows: 2019 2018 2017 Discount rate 4.2% 3.6% 4.1% The weighted-average discount rate used to determine Snap-on’s accumulated benefit obligation is as follows: 2019 2018 Discount rate 3.1% 4.2% The methodology for selecting the year-end 2019 and 2018 weighted-average discount rate for the company’s domestic postretirement plans was to match the plans’ yearly projected cash flows for benefits and service costs to those of hypothetical bond portfolios using high-quality, AA rated or better, corporate bonds from either Moody’s Investors Service or Standard & Poor’s credit rating agencies available at the measurement date. As a practical expedient, Snap-on uses the calendar year end as the measurement date for its plans. For 2020, the actuarial calculations assume a pre-65 health care cost trend rate of 5.6% and a post-65 health care cost trend rate of 6.1%, both decreasing gradually to 4.5% in 2038 and thereafter. The following benefit payments, which reflect expected future service, are expected to be paid as follows: (Amounts in millions) Amount Year: 2020 $ 3.7 2021 3.8 2022 3.8 2023 3.9 2024 4.0 2025-2029 20.3 The objective of the VEBA trust is to achieve net of expense returns that meet or exceed the 5.4% long-term return on plan assets assumption used for reporting purposes. Investments are diversified to attempt to minimize the risk of large losses. Since asset allocation is a key determinant of expected investment returns, assets are periodically rebalanced to the targeted allocation to correct significant deviations from the asset allocation policy that are caused by market fluctuations and cash flow. The basis for determining the overall expected long-term return on plan assets assumption is a nominal returns forecasting method. For each asset class, future returns are estimated by identifying the premium of riskier asset classes over lower risk alternatives. The methodology constructs expected returns using a “building block” approach to the individual components of total return. These forecasts are stated in both nominal and real (after inflation) terms. This process first considers the long-term historical return premium based on the longest set of data available for each asset class. These premiums, which are calculated using the geometric mean, are then adjusted based on current relative valuation levels and macro-economic conditions. The asset return assumption is also adjusted by an implicit expense load for estimated administrative and investment-related expenses. Snap-on’s VEBA plan target allocation and actual weighted-average asset allocation by asset category and fair value of plan assets as of 2019 and 2018 year end are as follows: Target 2019 2018 Asset category: Debt securities and cash and cash equivalents 46% 51% 56% Equity securities 29% 31% 26% Hedge funds 25% 18% 18% Total 100% 100% 100% Fair value of plan assets (Amounts in millions) $12.8 $12.1 The fair value measurement hierarchy prioritizes the inputs used to measure fair value. The hierarchy gives the highest priority (Level 1) to unadjusted quoted prices in active markets for identical assets and liabilities and the lowest priority (Level 3) to unobservable inputs. Fair value measurements primarily based on observable market information are given a Level 2 priority. Debt securities are valued at quoted per share or unit market prices for which an official close or last trade pricing on an active exchange is available and are categorized as Level 1 in the fair value hierarchy. Equity securities are valued at the NAV per share or unit multiplied by the number of shares or units held as of the measurement date, as reported by the fund managers. The share or unit price is quoted on a private market and is based on the value of the underlying investments, which are primarily based on observable inputs; such investments that are measured at fair value using the NAV per share (or its equivalent) practical expedient have not been classified in the fair value hierarchy. Hedge funds are stated at the NAV per share or unit (based on the estimated fair market value of the underlying investments) multiplied by the number of shares or units held as of the measurement date, as reported by the fund managers. These investments are measured at fair value using the NAV per share (or its equivalent) practical expedient and have not been classified in the fair value hierarchy. The company regularly reviews fund performance directly with its investment advisor and the fund managers, and performs qualitative analysis to corroborate the reasonableness of the reported NAVs. For funds for which the company did not receive a year-end NAV, the company recorded an estimate of the change in fair value for the latest period based on return estimates and other fund activity obtained from the fund managers. The columns labeled “Investments Measured at NAV” in the following tables are measured at fair value using the NAV per share (or its equivalent) practical expedient and have not been categorized in the fair value hierarchy. The fair value amounts presented in these tables are intended to permit a reconciliation of the fair value hierarchy to the VEBA plan assets. The following is a summary, by asset category, of the fair value and the level within the fair value hierarchy of the VEBA plan assets as of 2019 year end: (Amounts in millions) Quoted Investments Measured at Total Asset category: Cash and cash equivalents $ 0.5 $ — $ 0.5 Debt securities 6.0 — 6.0 Equity securities — 4.0 4.0 Hedge fund — 2.3 2.3 Total $ 6.5 $ 6.3 $ 12.8 The following is a summary, by asset category, of the fair value and the level within the fair value hierarchy of the VEBA plan assets as of 2018 year end: (Amounts in millions) Quoted Investments Measured at Total Asset category: Cash and cash equivalents $ 1.3 $ — $ 1.3 Debt securities 5.5 — 5.5 Equity securities — 3.1 3.1 Hedge fund — 2.2 2.2 Total $ 6.8 $ 5.3 $ 12.1

Stock-based Compensation and Ot

Stock-based Compensation and Other Stock Plans	12 Months Ended
Stock-based Compensation and Other Stock Plans	Dec. 28, 2019
Share-based Payment Arrangement [Abstract]
Stock-based Compensation and Other Stock Plans	Stock-based Compensation and Other Stock Plans The 2011 Incentive Stock and Awards Plan (the “2011 Plan”) provides for the grant of stock options, performance awards, SARs and restricted stock awards (which may be designated as “restricted stock units” or “RSUs”). No further grants are being made under its predecessor, the 2001 Incentive Stock and Awards Plan (the “2001 Plan”), although outstanding awards under the 2001 Plan will continue in accordance with their terms. As of 2019 year end, the 2011 Plan had 2,024,642 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 $23.8 million in 2019, $27.2 million in 2018 and $30.3 million in 2017. Cash received from stock purchase and option plan exercises was $51.4 million in 2019, $55.5 million in 2018 and $46.2 million in 2017. The tax benefit realized from both the exercise and vesting of share-based payment arrangements was $9.6 million in 2019, $14.8 million in 2018 and $20.9 million in 2017. 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 and forfeiture 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 2019, 2018 and 2017, using the Black-Scholes valuation model: 2019 2018 2017 Expected term of option (in years) 5.53 5.35 5.15 Expected volatility factor 21.30% 20.08% 22.01% Expected dividend yield 1.79% 1.68% 1.63% Risk-free interest rate 2.54% 2.71% 1.78% A summary of stock option activity during 2019 is presented below: Shares (in thousands) Exercise Remaining Contractual Term* (in years) Aggregate Intrinsic Value (in millions) Outstanding at beginning of year 3,130 $ 127.57 Granted 462 155.93 Exercised (422) 94.95 Forfeited or expired (56) 161.10 Outstanding at end of year 3,114 135.60 6.1 $ 104.6 Exercisable at end of year 2,173 125.00 5.0 96.0 * Weighted-average The weighted-average grant date fair value of options granted was $29.98 in 2019, $30.21 in 2018 and $31.13 in 2017. The intrinsic value of options exercised was $29.9 million in 2019, $43.8 million in 2018 and $33.3 million in 2017. The fair value of stock options vested was $15.7 million in 2019, $16.0 million in 2018 and $14.0 million in 2017. As of 2019 year end, there was $15.6 million of unrecognized compensation cost related to non-vested stock options that is expected to be recognized as a charge to earnings over a weighted-average period of 1.4 years. Performance awards: Performance awards, which are granted as performance share units (“PSUs”) 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 specified levels, the recipient may earn additional shares of stock, not to exceed 100% of the number of performance awards initially granted. The PSUs have a three one two 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 and assumed forfeitures based on recent historical experience; in recent years, forfeitures have not been significant. The weighted-average grant date fair value of performance awards granted during 2019, 2018 and 2017 was $155.92, $161.18 and $168.70, respectively. Earned PSUs totaled 21,183 shares as of 2019 year end, 32,154 shares as of 2018 year end and 50,316 shares as of 2017 year end. Earned PSUs vest and are generally paid out following the conclusion of the applicable performance period upon approval by the Organization and Executive Compensation Committee of the company’s Board of Directors (the “Board”). PSUs related to 32,114 shares, 50,182 shares and 60,980 shares were paid out in 2019, 2018 and 2017, respectively. Based on the company’s 2019 performance, none of the RSUs granted in 2019 were earned. Based on the company’s 2018 performance, 33,170 RSUs granted in 2018 were earned; assuming continued employment, these RSUs will vest at the end of fiscal 2020. Based on the company’s 2017 performance, 13,648 RSUs granted in 2017 were earned; these RSUs vested as of fiscal 2019 year end and were paid out shortly thereafter. Changes to the company’s non-vested performance awards in 2019 are as follows: Shares (in thousands) Fair Value Non-vested performance awards at beginning of year 120 $ 164.00 Granted 84 155.92 Vested (35) 168.47 Cancellations and other (71) 159.21 Non-vested performance awards at end of year 98 158.94 * Weighted-average As of 2019 year end, there was $7.3 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 1.6 years. Stock appreciation rights: The company also issues stock-settled and cash-settled SARs to certain key non-U.S. employees. SARs have a contractual term of 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 of Snap-on’s common stock value over the exercise price will be settled in shares of common stock. Cash-settled SARs provide for the cash payment of the excess of the fair market value of Snap-on’s common stock price on the date of exercise over the grant price. Cash-settled SARs have no effect on dilutive shares or shares outstanding as any appreciation of Snap-on’s common stock over the grant price is paid in cash and not in common stock. The fair value of stock-settled SARs is estimated on the date of grant using the Black-Scholes valuation model. The fair value of cash-settled SARs is revalued (mark-to-market) each reporting period using the Black-Scholes valuation model based on Snap-on’s period-end stock price. The company uses historical data regarding SARs exercise and forfeiture behaviors for different participating groups to estimate the expected term of the SARs granted based on the period of time that similar instruments granted are expected to be outstanding. Expected volatility is based on the historical volatility of the company’s stock for the length of time corresponding to the expected term of the SARs. The expected dividend yield is based on the 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 2019, 2018 and 2017, using the Black-Scholes valuation model: 2019 2018 2017 Expected term of stock-settled SARs (in years) 3.65 3.58 3.99 Expected volatility factor 22.60% 20.08% 19.39% Expected dividend yield 1.81% 1.63% 1.46% Risk-free interest rate 2.48% 2.40% 1.55% Changes to the company’s stock-settled SARs in 2019 are as follows: Stock-settled SARs (in thousands) Exercise Remaining Contractual Term* (in years) Aggregate Intrinsic Value (in millions) Outstanding at beginning of year 372 $ 147.41 Granted 92 155.95 Exercised (2) 119.43 Forfeited or expired (12) 150.54 Outstanding at end of year 450 149.18 6.9 $ 9.0 Exercisable at end of year 270 142.09 5.9 7.3 * Weighted-average The weighted-average grant date fair value of stock-settled SARs granted was $26.45 in 2019, $24.71 in 2018 and $24.13 in 2017. The intrinsic value of stock-settled SARs exercised was $0.1 million in 2019, $1.8 million in 2018 and $0.9 million in 2017. The fair value of stock-settled SARs vested was $2.1 million in 2019, $2.2 million in 2018 and $2.1 million in 2017. As of 2019 year end there was $2.6 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 1.5 years. The following weighted-average assumptions were used in calculating the fair value of cash-settled SARs granted during 2019, 2018 and 2017, using the Black-Scholes valuation model: 2019 2018 2017 Expected term of cash-settled SARs (in years) 2.87 2.76 3.09 Expected volatility factor 23.33% 21.96% 19.93% Expected dividend yield 2.02% 1.75% 1.59% Risk-free interest rate 1.60% 2.50% 1.98% The intrinsic value of cash-settled SARs exercised was $1.2 million in 2019, $3.4 million in 2018 and $1.6 million in 2017. The fair value of cash-settled SARs vested during both 2019 and 2018 was $0.1 million and $0.2 million in 2017. Changes to the company’s non-vested cash-settled SARs in 2019 are as follows: Cash-settled SARs (in thousands) Fair Value Non-vested cash-settled SARs at beginning of year 3 $ 14.89 Granted 1 29.94 Vested (2) 28.68 Non-vested cash-settled SARs at end of year 2 25.96 * Weighted-average As of 2019 year end there was $0.1 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 1.5 years. Restricted stock awards – non-employee directors: The company awarded 7,605 shares, 6,975 shares and 6,966 shares of restricted stock to non-employee directors in 2019, 2018 and 2017, respectively. The fair value of the restricted stock awards is expensed over a one Directors’ fee plan: Under the Directors’ 1993 Fee Plan, as amended, non-employee directors may elect to receive up to 100% of their fees and retainer in shares of Snap-on’s common stock. Directors may elect to defer receipt of all or part of these shares. For 2019, 2018 and 2017, issuances under the Directors’ Fee Plan totaled 1,784 shares, 1,727 shares and 1,800 shares, respectively, of which 1,374 shares, 1,315 shares and 1,312 shares, respectively, were deferred. As of 2019 year end, shares reserved for issuance to directors under this plan totaled 184,146 shares. 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 2019, 2018 and 2017, issuances under this plan totaled 25,820 shares, 22,794 shares and 26,963 shares, respectively. As of 2019 year end, shares reserved for issuance under this plan totaled 704,986 shares and Snap-on held participant contributions of approximately $2.2 million. Participants are able to withdraw from the plan at any time prior to the ending date and receive back all contributions made during the plan year. Compensation expense for plan participants was $0.1 million in 2019, $0.3 million in 2018 and $0.1 million in 2017. 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 2019, 2018 and 2017, issuances under this plan totaled 49,921 shares, 46,704 shares and 47,314 shares, respectively. As of 2019 year end, shares reserved for issuance under this plan totaled 469,530 shares and Snap-on held participant contributions of approximately $4.9 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. The company recognized mark-to-market expense of $0.8 million in 2019, $0.6 million in 2018, and $0.2 million in 2017.

Capital Stock

Capital Stock	12 Months Ended
Capital Stock	Dec. 28, 2019
Equity [Abstract]
Capital Stock	Capital Stock Snap-on has undertaken repurchases of Snap-on common stock from time to time to offset dilution created by shares issued for employee and franchisee stock purchase plans, stock awards and other corporate purposes. Snap-on repurchased 1,495,000 shares, 1,769,000 shares and 1,820,000 shares in 2019, 2018 and 2017, respectively. As of 2019 year end, Snap-on has remaining availability to repurchase up to an additional $359.6 million in common stock pursuant to Board authorizations. The purchase of Snap-on common stock is at the company’s discretion, subject to prevailing financial and market conditions. Cash dividends paid in 2019, 2018 and 2017 totaled $216.6 million, $192.0 million and $169.4 million, respectively. Cash dividends per share in 2019, 2018 and 2017 were $3.93, $3.41 and $2.95, respectively. On February 13, 2020, the company’s Board declared a quarterly dividend of $0.00 per share, payable on March 9, 2020, to shareholders of record on February 24, 2020.

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
Commitments and Contingencies	Dec. 28, 2019
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Snap-on provides product warranties for specific product lines and accrues for estimated future warranty cost in the period in which the sale is recorded. Snap-on calculates its accrual requirements based on historic warranty loss experience that is periodically adjusted for recent actual experience, including the timing of claims during the warranty period and actual costs incurred. Snap-on’s product warranty accrual activity for 2019, 2018 and 2017 is as follows: (Amounts in millions) 2019 2018 2017 Warranty accrual: Beginning of year $ 17.1 $ 17.2 $ 16.0 Additions 16.0 14.9 15.2 Usage (15.8) (15.0) (14.0) End of year $ 17.3 $ 17.1 $ 17.2 Approximately 2,650 employees, or 21% of Snap-on’s worldwide workforce, are represented by unions and/or covered under collective bargaining agreements. The number of covered union employees whose contracts expire over the next five years approximates 1,825 employees in 2020, 650 employees in 2021, and 175 employees in 2022; there are no contracts currently scheduled to expire in 2023 or 2024. In recent years, Snap-on has not experienced any significant work slowdowns, stoppages or other labor disruptions. 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 legal matters, management believes that the results of all legal matters will not have a material impact on Snap-on’s consolidated financial position, results of operations or cash flows.

Leases

Leases	12 Months Ended
Leases	Dec. 28, 2019
Leases [Abstract]
Leases	Leases At the beginning of fiscal 2019, Snap-on adopted ASU No. 2016-02, Leases (Topic 842) . The adoption of Topic 842 did not have a significant impact on the company’s consolidated financial statements. Finance leases and lessor accounting remained substantially unchanged. The adoption of Topic 842 impacted the company’s previously reported results as follows: (Amounts in millions) Classification Balance at Topic 842 Opening Balance at Assets Finance lease assets Property and equipment - net $ 7.8 $ — $ 7.8 Operating lease assets Operating lease right-of-use assets — 60.5 60.5 Liabilities Current: Finance lease liabilities Other accrued liabilities $ 1.2 $ — $ 1.2 Operating lease liabilities Other accrued liabilities — 20.2 20.2 Non-current: Finance lease liabilities Other long-term liabilities $ 6.6 $ — $ 6.6 Operating lease liabilities Operating lease liabilities — 40.4 40.4 Lessee accounting: Snap-on determines if an arrangement is a lease at inception. Snap-on has operating and finance leases for manufacturing plants, distribution centers, software development facilities, financial services offices, data centers, company store vans and certain equipment. Snap-on’s leases have lease terms of one year to 20 years and some include options to extend and/or terminate the lease. The exercise of lease renewal options is at the company’s sole discretion. Certain leases also include options to purchase the leased property. When deemed reasonably certain of exercise, the renewal and purchase options are included in the determination of the lease term and lease payment obligation, respectively. The depreciable life of assets and leasehold improvements are limited to the expected term, unless there is a transfer of title or purchase option reasonably certain of exercise. The company’s lease agreements do not contain any material variable lease payments, material residual value guarantees or any material restrictive covenants. ROU assets represent Snap-on’s right to use an underlying asset for the lease term and lease liabilities represent the obligation to make lease payments arising from the lease. Operating lease ROU assets and liabilities are recognized at commencement date of the lease based on the present value of lease payments over the lease term. When readily determinable, Snap-on uses the implicit rate in determining the present value of lease payments. When leases do not provide an implicit rate, Snap-on uses its country specific incremental borrowing rate based on the information available at the lease commencement date, including the lease term. The operating lease ROU asset also includes any lease payments made and excludes lease incentives. Lease expense for lease payments is recognized on a straight-line basis over the lease term. Snap-on has lease agreements with lease and non-lease components, which are generally accounted for separately. For all equipment leases, including vehicles, Snap-on accounts for the lease and non-lease components as a single lease component. Total lease costs for 2019 consist of the following: (Amounts in millions) 2019 Finance lease costs: Amortization of ROU assets $ 1.5 Interest on lease liabilities 0.5 Operating lease costs* 25.1 Total lease costs $ 27.1 * Includes short-term leases, variable lease costs and sublease income, which are immaterial. Supplemental cash flow information related to leases in 2019 is as follows: (Amounts in millions) 2019 Cash paid for amounts included in the measurement of lease liabilities: Financing cash flows from finance leases $ 2.8 Operating cash flows from finance leases 0.5 Operating cash flows from operating leases 23.5 ROU assets obtained in exchange for new lease obligations: Finance lease liabilities $ 1.4 Operating lease liabilities 12.5 Supplemental balance sheet information related to leases in 2019 is as follows: (Amounts in millions) 2019 Finance leases: Property and equipment - gross $ 9.2 Accumulated depreciation and amortization (1.5) Property and equipment - net $ 7.7 Other accrued liabilities $ 2.8 Other long-term liabilities 10.0 Total finance lease liabilities $ 12.8 Operating leases: Operating lease right-of-use assets $ 55.6 Other accrued liabilities $ 19.5 Operating lease liabilities 37.5 Total operating lease liabilities $ 57.0 Weighted-average lease terms and discount rates in 2019 are as follows: 2019 Weighted-average remaining lease terms: Finance leases 4.5 years Operating leases 3.7 years Weighted-average discount rates: Finance leases 3.4% Operating leases 2.8% Maturities of lease liabilities as of December 28, 2019 are as follows: (Amounts in millions) Operating Leases Finance Leases Year: 2020 $ 20.6 $ 3.2 2021 15.6 3.0 2022 10.8 2.8 2023 6.2 2.6 2024 4.1 2.0 2025 and thereafter 2.7 0.2 Total lease payments 60.0 13.8 Less: amount representing interest (3.0) (1.0) Total lease liabilities $ 57.0 $ 12.8 In 2019, Snap-on did not have any significant additional operating or finance leases that have not yet commenced. Snap-on’s future minimum lease commitments, net of sub-lease rental income, as of December 29, 2018, under Accounting Standard Codification Topic 840, the predecessor to Topic 842, are as follows: (Amounts in millions) Operating Capital Year: 2019 $ 25.6 $ 3.3 2020 18.4 3.2 2021 13.9 2.9 2022 9.8 2.5 2023 4.9 2.2 2024 and thereafter 4.4 1.9 Total minimum lease payments $ 77.0 16.0 Less: amount representing interest (0.9) Total present value of minimum capital lease payments $ 15.1 Amounts included in the accompanying Consolidated Balance Sheets for the present value of minimum capital lease payments as of 2018 year end are as follows: (Amounts in millions) 2018 Other accrued liabilities $ 3.0 Other long-term liabilities 12.1 Total present value of minimum capital lease payments $ 15.1 Rent expense for worldwide facilities, office equipment and vehicles, net of sub-lease rental income, was $33.0 million and $35.2 million in 2018 and 2017, respectively. Lessor accounting: Snap-on’s Financial Services business offers its customers lease financing for the lease of tools, diagnostics and equipment products and to franchisees who require financing for vehicle leases. Snap-on accounts for its financial services leases as sales-type leases. In certain circumstances, the lessee has the option to terminate the lease. In the event of the lessee’s deteriorated financial condition or default, Snap-on has the right to terminate the lease. The leases contain an end-of-term purchase option that is generally insignificant and is reasonably certain to be exercised by the lessee. The company recognizes the net investment in the lease as the present value of the lease payments not yet received plus the present value of the unguaranteed residual value, using the interest rate implicit in the lease. The difference between the undiscounted lease payments received over the lease term and the related net investment in the lease is reported as unearned finance charges. Unearned finance charges are amortized to income over the life of the contract and are included as a component of “Financial services revenue” on the accompanying Consolidated Statements of Earnings. Sales-type leases are included in both “Finance receivables - net” and “Long-term finance receivables - net” on the accompanying Consolidated Balance Sheets, with lease terms of up to five years. In 2019 and 2018, finance receivables have future minimum lease payments, including unguaranteed residual value, of $97.5 million and $93.3 million, respectively, and unearned finance charges of $19.9 million and $18.1 million, respectively. Sales-type leases are included in both “Contract receivables - net” and “Long-term contract receivables - net” on the accompanying Consolidated Balance Sheets, with lease terms of up to seven years. In 2019 and 2018, contract receivables have future minimum lease payments, including unguaranteed residual value, of $267.7 million and $254.2 million, respectively, and unearned finance charges of $47.6 million and $46.2 million, respectively. Future minimum lease payments as of December 28, 2019 are as follows: (Amounts in millions) Lease Receivables Year: 2020 $ 119.1 2021 90.7 2022 64.3 2023 44.4 2024 28.4 2025 and thereafter 18.3 Total lease payments 365.2 Less: unearned finance charges (67.5) Net investment in leases $ 297.7 See Note 4 for further information on finance and contract receivables.
Leases	Leases At the beginning of fiscal 2019, Snap-on adopted ASU No. 2016-02, Leases (Topic 842) . The adoption of Topic 842 did not have a significant impact on the company’s consolidated financial statements. Finance leases and lessor accounting remained substantially unchanged. The adoption of Topic 842 impacted the company’s previously reported results as follows: (Amounts in millions) Classification Balance at Topic 842 Opening Balance at Assets Finance lease assets Property and equipment - net $ 7.8 $ — $ 7.8 Operating lease assets Operating lease right-of-use assets — 60.5 60.5 Liabilities Current: Finance lease liabilities Other accrued liabilities $ 1.2 $ — $ 1.2 Operating lease liabilities Other accrued liabilities — 20.2 20.2 Non-current: Finance lease liabilities Other long-term liabilities $ 6.6 $ — $ 6.6 Operating lease liabilities Operating lease liabilities — 40.4 40.4 Lessee accounting: Snap-on determines if an arrangement is a lease at inception. Snap-on has operating and finance leases for manufacturing plants, distribution centers, software development facilities, financial services offices, data centers, company store vans and certain equipment. Snap-on’s leases have lease terms of one year to 20 years and some include options to extend and/or terminate the lease. The exercise of lease renewal options is at the company’s sole discretion. Certain leases also include options to purchase the leased property. When deemed reasonably certain of exercise, the renewal and purchase options are included in the determination of the lease term and lease payment obligation, respectively. The depreciable life of assets and leasehold improvements are limited to the expected term, unless there is a transfer of title or purchase option reasonably certain of exercise. The company’s lease agreements do not contain any material variable lease payments, material residual value guarantees or any material restrictive covenants. ROU assets represent Snap-on’s right to use an underlying asset for the lease term and lease liabilities represent the obligation to make lease payments arising from the lease. Operating lease ROU assets and liabilities are recognized at commencement date of the lease based on the present value of lease payments over the lease term. When readily determinable, Snap-on uses the implicit rate in determining the present value of lease payments. When leases do not provide an implicit rate, Snap-on uses its country specific incremental borrowing rate based on the information available at the lease commencement date, including the lease term. The operating lease ROU asset also includes any lease payments made and excludes lease incentives. Lease expense for lease payments is recognized on a straight-line basis over the lease term. Snap-on has lease agreements with lease and non-lease components, which are generally accounted for separately. For all equipment leases, including vehicles, Snap-on accounts for the lease and non-lease components as a single lease component. Total lease costs for 2019 consist of the following: (Amounts in millions) 2019 Finance lease costs: Amortization of ROU assets $ 1.5 Interest on lease liabilities 0.5 Operating lease costs* 25.1 Total lease costs $ 27.1 * Includes short-term leases, variable lease costs and sublease income, which are immaterial. Supplemental cash flow information related to leases in 2019 is as follows: (Amounts in millions) 2019 Cash paid for amounts included in the measurement of lease liabilities: Financing cash flows from finance leases $ 2.8 Operating cash flows from finance leases 0.5 Operating cash flows from operating leases 23.5 ROU assets obtained in exchange for new lease obligations: Finance lease liabilities $ 1.4 Operating lease liabilities 12.5 Supplemental balance sheet information related to leases in 2019 is as follows: (Amounts in millions) 2019 Finance leases: Property and equipment - gross $ 9.2 Accumulated depreciation and amortization (1.5) Property and equipment - net $ 7.7 Other accrued liabilities $ 2.8 Other long-term liabilities 10.0 Total finance lease liabilities $ 12.8 Operating leases: Operating lease right-of-use assets $ 55.6 Other accrued liabilities $ 19.5 Operating lease liabilities 37.5 Total operating lease liabilities $ 57.0 Weighted-average lease terms and discount rates in 2019 are as follows: 2019 Weighted-average remaining lease terms: Finance leases 4.5 years Operating leases 3.7 years Weighted-average discount rates: Finance leases 3.4% Operating leases 2.8% Maturities of lease liabilities as of December 28, 2019 are as follows: (Amounts in millions) Operating Leases Finance Leases Year: 2020 $ 20.6 $ 3.2 2021 15.6 3.0 2022 10.8 2.8 2023 6.2 2.6 2024 4.1 2.0 2025 and thereafter 2.7 0.2 Total lease payments 60.0 13.8 Less: amount representing interest (3.0) (1.0) Total lease liabilities $ 57.0 $ 12.8 In 2019, Snap-on did not have any significant additional operating or finance leases that have not yet commenced. Snap-on’s future minimum lease commitments, net of sub-lease rental income, as of December 29, 2018, under Accounting Standard Codification Topic 840, the predecessor to Topic 842, are as follows: (Amounts in millions) Operating Capital Year: 2019 $ 25.6 $ 3.3 2020 18.4 3.2 2021 13.9 2.9 2022 9.8 2.5 2023 4.9 2.2 2024 and thereafter 4.4 1.9 Total minimum lease payments $ 77.0 16.0 Less: amount representing interest (0.9) Total present value of minimum capital lease payments $ 15.1 Amounts included in the accompanying Consolidated Balance Sheets for the present value of minimum capital lease payments as of 2018 year end are as follows: (Amounts in millions) 2018 Other accrued liabilities $ 3.0 Other long-term liabilities 12.1 Total present value of minimum capital lease payments $ 15.1 Rent expense for worldwide facilities, office equipment and vehicles, net of sub-lease rental income, was $33.0 million and $35.2 million in 2018 and 2017, respectively. Lessor accounting: Snap-on’s Financial Services business offers its customers lease financing for the lease of tools, diagnostics and equipment products and to franchisees who require financing for vehicle leases. Snap-on accounts for its financial services leases as sales-type leases. In certain circumstances, the lessee has the option to terminate the lease. In the event of the lessee’s deteriorated financial condition or default, Snap-on has the right to terminate the lease. The leases contain an end-of-term purchase option that is generally insignificant and is reasonably certain to be exercised by the lessee. The company recognizes the net investment in the lease as the present value of the lease payments not yet received plus the present value of the unguaranteed residual value, using the interest rate implicit in the lease. The difference between the undiscounted lease payments received over the lease term and the related net investment in the lease is reported as unearned finance charges. Unearned finance charges are amortized to income over the life of the contract and are included as a component of “Financial services revenue” on the accompanying Consolidated Statements of Earnings. Sales-type leases are included in both “Finance receivables - net” and “Long-term finance receivables - net” on the accompanying Consolidated Balance Sheets, with lease terms of up to five years. In 2019 and 2018, finance receivables have future minimum lease payments, including unguaranteed residual value, of $97.5 million and $93.3 million, respectively, and unearned finance charges of $19.9 million and $18.1 million, respectively. Sales-type leases are included in both “Contract receivables - net” and “Long-term contract receivables - net” on the accompanying Consolidated Balance Sheets, with lease terms of up to seven years. In 2019 and 2018, contract receivables have future minimum lease payments, including unguaranteed residual value, of $267.7 million and $254.2 million, respectively, and unearned finance charges of $47.6 million and $46.2 million, respectively. Future minimum lease payments as of December 28, 2019 are as follows: (Amounts in millions) Lease Receivables Year: 2020 $ 119.1 2021 90.7 2022 64.3 2023 44.4 2024 28.4 2025 and thereafter 18.3 Total lease payments 365.2 Less: unearned finance charges (67.5) Net investment in leases $ 297.7 See Note 4 for further information on finance and contract receivables.
Leases	Leases At the beginning of fiscal 2019, Snap-on adopted ASU No. 2016-02, Leases (Topic 842) . The adoption of Topic 842 did not have a significant impact on the company’s consolidated financial statements. Finance leases and lessor accounting remained substantially unchanged. The adoption of Topic 842 impacted the company’s previously reported results as follows: (Amounts in millions) Classification Balance at Topic 842 Opening Balance at Assets Finance lease assets Property and equipment - net $ 7.8 $ — $ 7.8 Operating lease assets Operating lease right-of-use assets — 60.5 60.5 Liabilities Current: Finance lease liabilities Other accrued liabilities $ 1.2 $ — $ 1.2 Operating lease liabilities Other accrued liabilities — 20.2 20.2 Non-current: Finance lease liabilities Other long-term liabilities $ 6.6 $ — $ 6.6 Operating lease liabilities Operating lease liabilities — 40.4 40.4 Lessee accounting: Snap-on determines if an arrangement is a lease at inception. Snap-on has operating and finance leases for manufacturing plants, distribution centers, software development facilities, financial services offices, data centers, company store vans and certain equipment. Snap-on’s leases have lease terms of one year to 20 years and some include options to extend and/or terminate the lease. The exercise of lease renewal options is at the company’s sole discretion. Certain leases also include options to purchase the leased property. When deemed reasonably certain of exercise, the renewal and purchase options are included in the determination of the lease term and lease payment obligation, respectively. The depreciable life of assets and leasehold improvements are limited to the expected term, unless there is a transfer of title or purchase option reasonably certain of exercise. The company’s lease agreements do not contain any material variable lease payments, material residual value guarantees or any material restrictive covenants. ROU assets represent Snap-on’s right to use an underlying asset for the lease term and lease liabilities represent the obligation to make lease payments arising from the lease. Operating lease ROU assets and liabilities are recognized at commencement date of the lease based on the present value of lease payments over the lease term. When readily determinable, Snap-on uses the implicit rate in determining the present value of lease payments. When leases do not provide an implicit rate, Snap-on uses its country specific incremental borrowing rate based on the information available at the lease commencement date, including the lease term. The operating lease ROU asset also includes any lease payments made and excludes lease incentives. Lease expense for lease payments is recognized on a straight-line basis over the lease term. Snap-on has lease agreements with lease and non-lease components, which are generally accounted for separately. For all equipment leases, including vehicles, Snap-on accounts for the lease and non-lease components as a single lease component. Total lease costs for 2019 consist of the following: (Amounts in millions) 2019 Finance lease costs: Amortization of ROU assets $ 1.5 Interest on lease liabilities 0.5 Operating lease costs* 25.1 Total lease costs $ 27.1 * Includes short-term leases, variable lease costs and sublease income, which are immaterial. Supplemental cash flow information related to leases in 2019 is as follows: (Amounts in millions) 2019 Cash paid for amounts included in the measurement of lease liabilities: Financing cash flows from finance leases $ 2.8 Operating cash flows from finance leases 0.5 Operating cash flows from operating leases 23.5 ROU assets obtained in exchange for new lease obligations: Finance lease liabilities $ 1.4 Operating lease liabilities 12.5 Supplemental balance sheet information related to leases in 2019 is as follows: (Amounts in millions) 2019 Finance leases: Property and equipment - gross $ 9.2 Accumulated depreciation and amortization (1.5) Property and equipment - net $ 7.7 Other accrued liabilities $ 2.8 Other long-term liabilities 10.0 Total finance lease liabilities $ 12.8 Operating leases: Operating lease right-of-use assets $ 55.6 Other accrued liabilities $ 19.5 Operating lease liabilities 37.5 Total operating lease liabilities $ 57.0 Weighted-average lease terms and discount rates in 2019 are as follows: 2019 Weighted-average remaining lease terms: Finance leases 4.5 years Operating leases 3.7 years Weighted-average discount rates: Finance leases 3.4% Operating leases 2.8% Maturities of lease liabilities as of December 28, 2019 are as follows: (Amounts in millions) Operating Leases Finance Leases Year: 2020 $ 20.6 $ 3.2 2021 15.6 3.0 2022 10.8 2.8 2023 6.2 2.6 2024 4.1 2.0 2025 and thereafter 2.7 0.2 Total lease payments 60.0 13.8 Less: amount representing interest (3.0) (1.0) Total lease liabilities $ 57.0 $ 12.8 In 2019, Snap-on did not have any significant additional operating or finance leases that have not yet commenced. Snap-on’s future minimum lease commitments, net of sub-lease rental income, as of December 29, 2018, under Accounting Standard Codification Topic 840, the predecessor to Topic 842, are as follows: (Amounts in millions) Operating Capital Year: 2019 $ 25.6 $ 3.3 2020 18.4 3.2 2021 13.9 2.9 2022 9.8 2.5 2023 4.9 2.2 2024 and thereafter 4.4 1.9 Total minimum lease payments $ 77.0 16.0 Less: amount representing interest (0.9) Total present value of minimum capital lease payments $ 15.1 Amounts included in the accompanying Consolidated Balance Sheets for the present value of minimum capital lease payments as of 2018 year end are as follows: (Amounts in millions) 2018 Other accrued liabilities $ 3.0 Other long-term liabilities 12.1 Total present value of minimum capital lease payments $ 15.1 Rent expense for worldwide facilities, office equipment and vehicles, net of sub-lease rental income, was $33.0 million and $35.2 million in 2018 and 2017, respectively. Lessor accounting: Snap-on’s Financial Services business offers its customers lease financing for the lease of tools, diagnostics and equipment products and to franchisees who require financing for vehicle leases. Snap-on accounts for its financial services leases as sales-type leases. In certain circumstances, the lessee has the option to terminate the lease. In the event of the lessee’s deteriorated financial condition or default, Snap-on has the right to terminate the lease. The leases contain an end-of-term purchase option that is generally insignificant and is reasonably certain to be exercised by the lessee. The company recognizes the net investment in the lease as the present value of the lease payments not yet received plus the present value of the unguaranteed residual value, using the interest rate implicit in the lease. The difference between the undiscounted lease payments received over the lease term and the related net investment in the lease is reported as unearned finance charges. Unearned finance charges are amortized to income over the life of the contract and are included as a component of “Financial services revenue” on the accompanying Consolidated Statements of Earnings. Sales-type leases are included in both “Finance receivables - net” and “Long-term finance receivables - net” on the accompanying Consolidated Balance Sheets, with lease terms of up to five years. In 2019 and 2018, finance receivables have future minimum lease payments, including unguaranteed residual value, of $97.5 million and $93.3 million, respectively, and unearned finance charges of $19.9 million and $18.1 million, respectively. Sales-type leases are included in both “Contract receivables - net” and “Long-term contract receivables - net” on the accompanying Consolidated Balance Sheets, with lease terms of up to seven years. In 2019 and 2018, contract receivables have future minimum lease payments, including unguaranteed residual value, of $267.7 million and $254.2 million, respectively, and unearned finance charges of $47.6 million and $46.2 million, respectively. Future minimum lease payments as of December 28, 2019 are as follows: (Amounts in millions) Lease Receivables Year: 2020 $ 119.1 2021 90.7 2022 64.3 2023 44.4 2024 28.4 2025 and thereafter 18.3 Total lease payments 365.2 Less: unearned finance charges (67.5) Net investment in leases $ 297.7 See Note 4 for further information on finance and contract receivables.

Other Income (Expense) - Net

Other Income (Expense) - Net	12 Months Ended
Other Income (Expense) - Net	Dec. 28, 2019
Other Income and Expenses [Abstract]
Other Income (Expense) - Net	Other Income (Expense) – Net “Other income (expense) – net” on the accompanying Consolidated Statements of Earnings consists of the following: (Amounts in millions) 2019 2018 2017 Interest income $ 1.5 $ 0.6 $ 0.3 Net foreign exchange loss (3.6) (3.9) (7.0) Net periodic pension and postretirement benefits (costs) - non-service 10.4 3.7 (0.6) Settlement of treasury lock — 13.3 — Loss on early extinguishment of debt — (7.8) — Other 0.5 (1.7) (0.5) Total other income (expense) – net $ 8.8 $ 4.2 $ (7.8)

Accumulated Other Comprehensive

Accumulated Other Comprehensive Income (Loss)	12 Months Ended
Accumulated Other Comprehensive Income (Loss)	Dec. 28, 2019
Equity [Abstract]
Accumulated Other Comprehensive Income (Loss)	Accumulated Other Comprehensive Income (Loss) The following is a summary of net changes in Accumulated OCI by component and net of tax for 2019 and 2018: (Amounts in millions) Foreign Cash Flow Hedges Defined Total Balance as of 2017 year end $ (82.5) $ 14.5 $ (261.0) $ (329.0) Other comprehensive loss before reclassifications (95.4) (0.8) (59.0) (155.2) Amounts reclassified from Accumulated OCI — (1.5) 23.5 22.0 Net other comprehensive loss (95.4) (2.3) (35.5) (133.2) Balance as of 2018 year end $ (177.9) $ 12.2 $ (296.5) $ (462.2) Impact of the Tax Act on Accumulated Other Comprehensive Income (ASU No. 2018-02) — — (45.9) (45.9) Balance at beginning of 2019 (177.9) 12.2 (342.4) (508.1) Other comprehensive loss before reclassifications (9.5) — (6.5) (16.0) Amounts reclassified from Accumulated OCI — (1.5) 17.7 16.2 Net other comprehensive income (loss) (9.5) (1.5) 11.2 0.2 Balance as of 2019 year end $ (187.4) $ 10.7 $ (331.2) $ (507.9) The reclassifications out of Accumulated OCI in 2019 and 2018 are as follows: Amounts Reclassified from Statement of Earnings (Amounts in millions) 2019 2018 Gains on cash flow hedges: Treasury locks $ 1.5 $ 1.5 Interest expense Income tax expense — — Income tax expense Net of tax 1.5 1.5 Amortization of net unrecognized losses and prior service credits (23.5) (31.1) See footnote below* Income tax benefit 5.8 7.6 Income tax expense Net of tax (17.7) (23.5) Total reclassifications for the period, net of tax $ (16.2) $ (22.0) * These Accumulated OCI components are included in the computation of net periodic pension and postretirement health care costs; see Note 11 and Note 12 for further information.

Segments

Segments	12 Months Ended
Segments	Dec. 28, 2019
Segment Reporting [Abstract]
Segments	Segments Snap-on’s business segments are based on the organization structure used by management for making operating and investment decisions and for assessing performance. Snap-on’s reportable business segments are: (i) the Commercial & Industrial Group; (ii) the Snap-on Tools Group; (iii) the Repair Systems & Information Group; and (iv) Financial Services. The Commercial & Industrial Group consists of business operations serving a broad range of industrial and commercial customers worldwide, including customers in the aerospace, natural resources, government, power generation, transportation and technical education market segments (collectively, “critical industries”), primarily through direct and distributor channels. The Snap-on Tools Group consists of business operations primarily serving vehicle service and repair technicians through the company’s 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 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. Intersegment amounts are eliminated to arrive at Snap-on’s consolidated financial results. Snap-on does not have any single customer or government that represents 10% or more of its revenues in any of the indicated periods. Financial Data by Segment: (Amounts in millions) 2019 2018 2017 Net sales: Commercial & Industrial Group $ 1,345.7 $ 1,343.3 $ 1,265.0 Snap-on Tools Group 1,612.9 1,613.8 1,625.1 Repair Systems & Information Group 1,334.5 1,334.4 1,347.2 Segment net sales 4,293.1 4,291.5 4,237.3 Intersegment eliminations (563.1) (550.8) (550.4) Total net sales 3,730.0 3,740.7 3,686.9 Financial Services revenue 337.7 329.7 313.4 Total revenues $ 4,067.7 $ 4,070.4 $ 4,000.3 Operating earnings: Commercial & Industrial Group $ 188.7 $ 199.3 $ 186.5 Snap-on Tools Group 245.8 264.2 274.7 Repair Systems & Information Group 342.7 342.6 335.3 Financial Services 245.9 230.1 217.5 Segment operating earnings 1,023.1 1,036.2 1,014.0 Corporate (60.8) (80.1) (131.9) Operating earnings 962.3 956.1 882.1 Interest expense (49.0) (50.4) (52.4) Other income (expense) – net 8.8 4.2 (7.8) Earnings before income taxes and equity earnings $ 922.1 $ 909.9 $ 821.9 (Amounts in millions) 2019 2018 Assets: Commercial & Industrial Group $ 1,138.8 $ 1,087.9 Snap-on Tools Group 827.4 752.7 Repair Systems & Information Group 1,381.9 1,306.3 Financial Services 2,104.0 2,039.6 Total assets from reportable segments 5,452.1 5,186.5 Corporate 303.1 249.2 Elimination of intersegment receivables (61.7) (62.6) Total assets $ 5,693.5 $ 5,373.1 Financial Data by Segment (continued): (Amounts in millions) 2019 2018 2017 Capital expenditures: Commercial & Industrial Group $ 30.1 $ 21.5 $ 22.6 Snap-on Tools Group 42.7 46.0 40.1 Repair Systems & Information Group 22.7 19.7 13.4 Financial Services 0.8 0.5 1.2 Total from reportable segments 96.3 87.7 77.3 Corporate 3.1 3.2 4.7 Total capital expenditures $ 99.4 $ 90.9 $ 82.0 Depreciation and amortization: Commercial & Industrial Group $ 23.5 $ 23.6 $ 22.8 Snap-on Tools Group 31.7 29.9 29.1 Repair Systems & Information Group 33.0 36.7 37.8 Financial Services 0.7 0.8 0.6 Total from reportable segments 88.9 91.0 90.3 Corporate 3.5 3.1 2.9 Total depreciation and amortization $ 92.4 $ 94.1 $ 93.2 Revenues by geographic region:* United States $ 2,794.0 $ 2,727.9 $ 2,703.3 Europe 730.3 784.7 748.8 All other 543.4 557.8 548.2 Total revenues $ 4,067.7 $ 4,070.4 $ 4,000.3 (Amounts in millions) 2019 2018 Long-lived assets:** United States $ 1,112.3 $ 1,091.2 Sweden 218.7 227.4 All other 348.2 311.6 Total long-lived assets $ 1,679.2 $ 1,630.2 * Revenues are attributed to countries based on origin of the sale. ** Long-lived assets consist of Property and equipment - net, Goodwill, and Other intangibles - net. Products and Services: Snap-on derives net sales from a broad line of products and complementary services that are grouped into three categories: (i) tools; (ii) diagnostics, information and management systems; and (iii) equipment. The tools product category includes hand tools, power tools, tool storage products and other similar products. The diagnostics, information and management systems product category includes handheld and PC-based diagnostic products, service and repair information products, diagnostic software solutions, electronic parts catalogs, business management systems and services, point-of-sale systems, integrated systems for vehicle service shops, OEM purchasing facilitation services, and warranty management systems and analytics to help OEM dealerships manage and track performance. The equipment product category includes solutions for the service of vehicles and industrial equipment. Snap-on supports the sale of its diagnostics and vehicle service shop equipment by offering training programs as well as after-sales service support to its customers. Through its financial services businesses, Snap-on also derives revenue from various financing programs designed to facilitate the sales of its products and support its franchise business. Further product line information is not presented as it is not practicable to do so. The following table shows the consolidated net sales and revenues of these product groups in the last three years: (Amounts in millions) 2019 2018 2017 Net sales: Tools $ 2,017.5 $ 2,021.2 $ 1,946.7 Diagnostics, information and management systems 827.5 797.9 800.4 Equipment 885.0 921.6 939.8 Total net sales 3,730.0 3,740.7 3,686.9 Financial services revenue 337.7 329.7 313.4 Total revenues $ 4,067.7 $ 4,070.4 $ 4,000.3

Quarterly Data

Quarterly Data	12 Months Ended
Quarterly Data	Dec. 28, 2019
Quarterly Financial Information Disclosure [Abstract]
Quarterly Data (unaudited)	Quarterly Data (unaudited) (Amounts in millions, except per share data) First Second Third Quarter Fourth Total 2019 Net sales $ 921.7 $ 951.3 $ 901.8 $ 955.2 $ 3,730.0 Gross profit 471.6 473.8 448.1 450.5 1,844.0 Financial services revenue 85.6 84.1 84.1 83.9 337.7 Financial services expenses (23.5) (23.5) (23.1) (21.7) (91.8) Net earnings 182.1 184.9 169.2 175.0 711.2 Net earnings attributable to Snap-on Incorporated 177.9 180.4 164.6 170.6 693.5 Earnings per share – basic 3.21 3.27 2.99 3.12 12.59 Earnings per share – diluted 3.16 3.22 2.96 3.08 12.41 Cash dividends paid per share 0.95 0.95 0.95 1.08 3.93 First Second Third Quarter Fourth Total 2018 Net sales $ 935.5 $ 954.6 $ 898.1 $ 952.5 $ 3,740.7 Gross profit 471.6 487.1 453.9 457.4 1,870.0 Financial services revenue 83.0 82.0 82.0 82.7 329.7 Financial services expenses (26.1) (24.2) (22.7) (26.6) (99.6) Net earnings 166.8 182.7 167.4 179.3 696.2 Net earnings attributable to Snap-on Incorporated 163.0 178.7 163.2 175.0 679.9 Earnings per share – basic 2.87 3.17 2.90 3.14 12.08 Earnings per share – diluted 2.82 3.12 2.85 3.09 11.87 Cash dividends paid per share 0.82 0.82 0.82 0.95 3.41

Summary of Accounting Policies

Summary of Accounting Policies (Policies)	12 Months Ended
Summary of Accounting Policies (Policies)	Dec. 28, 2019
Accounting Policies [Abstract]
Principles of consolidation and presentation	Principles of consolidation and presentation: The Consolidated Financial Statements include the accounts of Snap-on Incorporated and its wholly-owned and majority-owned subsidiaries (collectively, “Snap-on” or “the company”). Snap-on accounts for investments in unconsolidated affiliates where Snap-on has a non-significant ownership interest under the equity method of accounting. Investments in unconsolidated affiliates of $18.8 million as of December 28, 2019, and $18.5 million as of December 29, 2018, are included in “Other assets” on the accompanying Consolidated Balance Sheets; no equity investment dividends were received in any period presented. In the normal course of business, the company may purchase products or services from, or sell products or services to, unconsolidated affiliates. Purchases from unconsolidated affiliates were $10.4 million, $11.2 million and $11.6 million in 2019, 2018 and 2017, respectively, and sales to unconsolidated affiliates were $0.6 million in 2019, $0.8 million in 2018 and $0.5 million in 2017. The Consolidated Financial Statements do not include the accounts of the company’s independent franchisees. Snap-on’s Consolidated Financial Statements are prepared in conformity with generally accepted accounting principles in the United States of America (“GAAP”). Intercompany accounts and transactions have been eliminated.
Fiscal year accounting period	Fiscal year accounting period: Snap-on’s fiscal year ends on the Saturday that is on or nearest to December 31. The 2019 fiscal year ended on December 28, 2019 (“2019”). The 2018 fiscal year ended on December 29, 2018 (“2018”). The 2017 fiscal year ended on December 30, 2017 (“2017”). The 2019, 2018 and 2017 fiscal years each contained 52 weeks of operating results.
Use of estimates	Use of estimates: The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.
Financial instruments	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 10 for further information on financial instruments.
Revenue recognition	Revenue recognition: Snap-on recognizes revenue from the sale of tools, diagnostic and equipment products and related services based on when control of the product passes to the customer or the service is provided and is recognized at an amount that reflects the consideration expected to be received in exchange for such goods or services. See Note 2 for information on revenue recognition. Shipping and handling: Amounts billed to customers for shipping and handling are included as a component of sales. Costs incurred by Snap-on for shipping and handling are included as a component of cost of goods sold when the costs relate to manufacturing activities. In 2019, 2018 and 2017, Snap-on incurred shipping and handling charges of $56.5 million, $53.7 million and $49.7 million, respectively, that were recorded in “Cost of goods sold” on the accompanying Consolidated Statements of Earnings. Shipping and handling costs incurred in conjunction with selling or distribution activities are included as a component of operating expenses. Shipping and handling charges were $88.7 million in 2019, $84.3 million in 2018 and $82.3 million in 2017; these charges were recorded in “Operating expenses” on the accompanying Consolidated Statements of Earnings. Nature of goods and services: Snap-on derives net sales from a broad line of products and complementary services that are grouped into three categories: (i) tools; (ii) diagnostics, information and management systems; and (iii) equipment. The tools product category includes hand tools, power tools, tool storage products and other similar products. The diagnostics, information and management systems product category includes handheld and PC-based diagnostic products, service and repair information products, diagnostic software solutions, electronic parts catalogs, business management systems and services, point-of-sale systems, integrated systems for vehicle service shops, original equipment manufacturer (“OEM”) purchasing facilitation services, and warranty management systems and analytics to help OEM dealership service and repair shops (“OEM dealerships”) manage and track performance. The equipment product category includes solutions for the service of vehicles and industrial equipment. Snap-on supports the sale of its diagnostics and vehicle service shop equipment by offering training programs as well as after-sales support to its customers. Through its financial services businesses, Snap-on also derives revenue from various financing programs designed to facilitate the sales of its products and support its franchise business. Approximately 90% of Snap-on’s net sales are products sold at a point in time through ship-and-bill performance obligations that also includes repair services. The remaining sales revenue is earned over time primarily on a subscription basis including software, extended warranty and other subscription service agreements. Snap-on enters into contracts related to the selling of tools, diagnostic and repair information and equipment products and related services. At contract inception, an assessment of the goods and services promised in the contracts with customers is performed and a performance obligation is identified for each distinct promise to transfer to the customer a good or service (or bundle of goods or services). To identify the performance obligations, Snap-on considers all of the goods or services promised in the contract regardless of whether they are explicitly stated or are implied by customary business practices. Contracts with customers are comprised of customer purchase orders, invoices and written contracts. When performance obligations are satisfied: For performance obligations related to the majority of ship-and-bill products, including repair services contracts, control transfers at a point in time when title transfers upon shipment of the product to the customer, and for some sales, control transfers when title is transferred at time of receipt by customer. Once a product or repaired product has shipped or has been delivered, the customer is able to direct the use of, and obtain substantially all of the remaining benefits from the asset, revenue is recognized. Snap-on considers control to have transferred upon shipment or delivery when Snap-on has a present right to payment, the customer has legal title to the asset, Snap-on has transferred physical possession of the asset, and the customer has significant risk and rewards of ownership of the asset. For performance obligations related to software subscriptions, extended warranties and other subscription agreements, Snap-on transfers control and recognizes revenue over time on a ratable basis using a time-based output method. The performance obligations are typically satisfied as services are rendered on a straight-line basis over the contract term, which is generally for 12 months but can be for a term up to 60 months. Significant payment terms: For ship-and-bill type contracts with customers, the contract states the final terms of the sale, including the description, quantity, and price of each product or service purchased. Payment terms are typically due upon delivery or up to 30 days after delivery but can range up to 120 days after delivery. For subscription contracts, payment terms are in advance or in arrears of services on a monthly, quarterly or annual basis over the contract term, which is generally for 12 months but can be for a term up to 60 months depending on the product or service. The customer typically agrees to a stated rate and price in the contract that does not vary over the contract term. In some cases, customers prepay for their licenses, or in other cases, pay on a monthly or quarterly basis. When the timing of the payment made by the customer precedes the delivery of the performance obligation, a contract liability is recognized. Variable consideration: In some cases, the nature of Snap-on’s contracts give rise to variable consideration, including rebates, credits, allowances for returns or other similar items that generally decrease the transaction price. These variable amounts generally are credited to the customer, based on achieving certain levels of sales activity, product returns and making payments within specific terms. In the normal course of business, Snap-on allows franchisees to return product per the provisions in the franchise agreement that allow for the return of product in a saleable condition. For other customers, product returns are generally not accepted unless the item is defective as manufactured. Where applicable, Snap-on establishes provisions for estimated sales returns. Estimated product returns are recorded as a reduction in reported revenues at the time of sale based upon historical product return experience and is adjusted for known trends to arrive at the amount of consideration to which Snap-on expects to receive. Variable consideration is estimated at the most likely amount that is expected to be earned. Estimated amounts are included in the transaction price to the extent it is probable that a significant reversal of cumulative revenue recognized will not occur when the uncertainty associated with the variable consideration is resolved. Estimates of variable consideration and determination of whether to include estimated amounts in the transaction price are based largely on an assessment of the anticipated performance and all information (historical, current and forecasted) that is reasonably available. Warranties: Snap-on allows customers to return product when the product is defective as manufactured. Where applicable, Snap-on establishes provisions for estimated warranties. Estimated product warranties are provided for specific product lines and Snap-on accrues for estimated future warranty cost in the period in which the sale is recorded. The costs are included in “Cost of goods sold” on the accompanying Consolidated Statements of Earnings. Snap-on calculates its accrual requirements based on historic warranty loss experience that is periodically adjusted for recent actual experience, including the timing of claims during the warranty period and actual costs incurred. Snap-on does not typically provide customers with the right to a refund. Practical expedients and exemptions of ASU No. 2014-09, Revenue from Contracts with Customers (Topic 606) : Snap-on typically expenses incremental direct costs of obtaining a contract (sales commissions) when incurred because the amortization period is generally 12 months or less. Capitalized long-term contract costs are not significant. Contract costs are expensed or amortized in “Operating expenses” on the accompanying Consolidated Statements of Earnings. Snap-on elected to account for shipping and handling activities that occur after control of the related good transfers to the customer as fulfillment activities and are therefore recognized upon shipment of the goods. Snap-on has applied the portfolio approach to its ship-and-bill contracts that have similar characteristics as it reasonably expects that the effects on the financial statements of applying this guidance to the portfolio of contracts would not differ materially from applying this guidance to the individual contracts within the portfolio. Snap-on typically excludes from its sales transaction price any amounts collected from customers for sales (and similar) taxes. For certain performance obligations related to software subscriptions, extended warranty and other subscription agreements that are settled over time, Snap-on has elected not to disclose the value of unsatisfied performance obligations for: (i) contracts that have an original expected length of one year or less; (ii) contracts where revenue is recognized as invoiced; and (iii) contracts with variable consideration related to unsatisfied performance obligations. The remaining duration of these unsatisfied performance obligations generally range from one month up to 60 months. Snap-on had approximately $235 million of long-term contracts that have fixed consideration that extends beyond one year as of December 28, 2019. Snap-on expects to recognize approximately 70% of these contracts as revenue by the end of fiscal 2021, an additional 25% by the end of fiscal 2023 and the balance thereafter. Contract liabilities (Deferred revenues): Contract liabilities are recorded when cash payments are received in advance of Snap-on’s performance. The timing of payment is typically on a monthly, quarterly or annual basis. The balance of total contract liabilities was $65.1 million and $63.8 million at December 28, 2019 and December 29, 2018, respectively. The current portion of contract liabilities and the non-current portion are included in “Other accrued liabilities” and “Other long-term liabilities”, respectively, on the accompanying Consolidated Balance Sheets. In 2019, Snap-on recognized revenue of $46.2 million that was included in the contract liability balance as of December 29, 2018, which was primarily from the amortization of software subscriptions, extended warranties and other subscription agreements. The increase in the total contract liabilities balance is primarily driven by the timing of cash payments received or due in advance of satisfying Snap-on’s performance obligations and growth in certain software subscriptions, partially offset by revenues recognized that were included in the contract liability balance at the beginning of the year. Franchise fee revenue, including nominal, non-refundable initial fees, is recognized upon the granting of a franchise, which is when the company has performed substantially all initial services required by the franchise agreement. Franchise fee revenue also includes ongoing monthly fees (primarily for sales and business training as well as marketing and product promotion programs) that are recognized as the fees are earned. Franchise fee revenue in 2019, 2018 and 2017 totaled $15.4 million, $16.2 million and $15.2 million, respectively. Revenue recognition prior to 2018: Revenue recognition prior to 2018, as presented, is based on Revenue Recognition (Topic 605). Snap-on recognized revenue from the sale of tools and diagnostic and equipment products when contract terms were met, the price was fixed or determinable, collectability was reasonably assured and a product was shipped or risk of ownership had been transferred to and accepted by the customer. For sales contingent upon customer acceptance, revenue recognition was deferred until such obligations were fulfilled. Estimated product returns were recorded as a reduction in reported revenues at the time of sale based upon historical product return experience and gross profit margin was adjusted for known trends. Provisions for customer volume rebates, discounts and allowances were also recorded as a reduction in reported revenues at the time of sale based on historical experience and known trends. Revenue related to extended warranty and subscription agreements was recognized over the terms of the respective agreements. Snap-on also recognized revenue related to multiple element arrangements, including sales of hardware, software and software-related services. When a sales arrangement contained multiple elements, such as hardware and software products and/or services, Snap-on used the relative selling price method to allocate revenues between hardware and software elements. For software elements that were not essential to the hardware’s functionality and related software post-contract customer support, vendor specific objective evidence (“VSOE”) of fair value was used to further allocate revenue to each element based on its relative fair value and, when necessary, the residual method was used to assign value to the delivered elements when VSOE only existed for the undelivered elements. The amount assigned to the products or services was recognized when the product was delivered and/or when the services were performed. In instances where the product and/or services were performed over an extended period, as is the case with subscription agreements or the providing of ongoing support, revenue was generally recognized on a straight-line basis over the term of the agreement, which generally ranged from 12 months to 60 months.
Financial services revenue	Financial services revenue: Snap-on also generates revenue from various financing programs that include: (i) installment sales and lease contracts arising from franchisees’ customers and Snap-on customers who require financing for the purchase or lease of tools and diagnostic and equipment products on an extended-term payment plan; and (ii) business loans and vehicle leases to franchisees. These financing programs are offered through Snap-on’s wholly owned finance subsidiaries. Financial services revenue consists primarily of interest income on finance and contract receivables and is recognized over the life of the underlying contracts, with interest computed primarily on the average daily balances of the underlying contracts. The decision to finance through Snap-on or another financing source is solely at the election of the customer. When assessing customers for potential financing, Snap-on considers various factors regarding ability to pay, including the customers’ financial condition, debt-servicing ability, past payment experience, and credit bureau and proprietary Snap-on credit model information, as well as the value of the underlying collateral. For finance receivables, Snap-on assesses these factors through the use of credit quality indicators consisting primarily of customer credit risk scores combined with internal credit risk grades, collection experience, franchise input and other internal metrics. For contract receivables, Snap-on assesses these factors through the use of credit quality indicators consisting primarily of customer credit risk scores combined with internal credit risk grades, collection experience and other internal metrics.
Financial services lease arrangements	Financial services lease arrangements: Snap-on accounts for its financial services leases as sales-type leases. The company recognizes the net investment in the lease as the present value of the lease payments not yet received plus the present value of the unguaranteed residual value, using the interest rate implicit in the lease. The difference between the undiscounted lease payments received over the lease term and the related net investment in the lease is reported as unearned finance charges. Unearned finance charges are amortized to income over the life of the contract. The default covenants included in the lease arrangements are usual and customary, consistent with industry practice, and do not impact the lease classification. Except in circumstances where the company has concluded that a lessee’s financial condition has deteriorated, the other default covenants under Snap-on’s lease arrangements are objectively determinable. See Notes 4 and 16 for further information on finance and contract receivables and lessor accounting.
Research and engineering	Research and engineering: Snap-on incurred research and engineering costs of $59.1 million, $61.2 million and $60.9 million in 2019, 2018 and 2017, respectively. Research and engineering costs are included in “Operating expenses” on the accompanying Consolidated Statements of Earnings.
Internally developed software	Internally developed software: Costs incurred in the development of software that will ultimately be sold are capitalized from the time technological feasibility has been attained and capitalization ceases when the related product is ready for general release. During 2019, 2018 and 2017, Snap-on capitalized $12.6 million, $9.7 million and $11.3 million, respectively, of such costs. Amortization of capitalized software development costs, which is included in “Cost of goods sold” on the accompanying Consolidated Statements of Earnings, was $10.1 million in 2019, $13.4 million in 2018 and $14.7 million in 2017. Unamortized capitalized software development costs of $42.6 million as of 2019 year end and $40.2 million as of 2018 year end are included in “Other intangibles – net” on the accompanying Consolidated Balance Sheets.
Internal-use software	Internal-use software: Costs that are incurred in creating software solutions and enhancements to those solutions are capitalized only for the application development stage of the project.
Advertising and promotion	Advertising and promotion: Production costs of future media advertising are deferred until the advertising occurs. All other advertising and promotion costs are expensed when incurred. For 2019, 2018 and 2017, advertising and promotion expenses totaled $47.7 million, $55.6 million and $55.7 million, respectively. Advertising and promotion costs are included in “Operating expenses” on the accompanying Consolidated Statements of Earnings.
Warranties	Warranties: Snap-on provides product warranties for specific product lines and accrues for estimated future warranty costs in the period in which the sale is recorded. See Notes 2 and 15 for information on warranties.
Foreign currency	Foreign currency: The financial statements of Snap-on’s foreign subsidiaries are translated into U.S. dollars. Assets and liabilities of foreign subsidiaries are translated at current rates of exchange, and income and expense items are translated at the average exchange rates for the period. The resulting translation adjustments are recorded directly into “Accumulated other comprehensive loss” on the accompanying Consolidated Balance Sheets. Foreign exchange transactions, net of foreign currency hedges, resulted in pretax losses of $3.6 million, $3.9 million and $7.0 million in 2019, 2018 and 2017, respectively. Foreign exchange transaction gains and losses are reported in “Other income (expense) – net” on the accompanying Consolidated Statements of Earnings.
Income taxes	Income taxes: Current tax assets and liabilities are based upon an estimate of taxes refundable or payable for each of the jurisdictions in which the company is subject to tax. In the ordinary course of business, there is inherent uncertainty in quantifying income tax positions. Snap-on assesses income tax positions and records tax benefits for all years subject to examination based upon management’s evaluation of the facts, circumstances and information available at the reporting dates. For those tax positions where it is more-likely-than-not that a tax benefit will be sustained, Snap-on records the largest amount of tax benefit with a greater than 50% likelihood of being realized upon ultimate settlement with a taxing authority that has full knowledge of all relevant information. For those income tax positions where it is not more-likely-than-not that a tax benefit will be sustained, no tax benefit is recognized in the financial statements. When applicable, associated interest and penalties are recognized as a component of income tax expense. Accrued interest and penalties are included within the related tax asset or liability on the accompanying Consolidated Balance Sheets. Deferred income taxes are provided for temporary differences arising from differences in bases of assets and liabilities for tax and financial reporting purposes. Deferred income taxes are recorded on temporary differences using enacted tax rates in effect for the year in which the temporary differences are expected to reverse. The effect of a change in tax rates on deferred tax assets and liabilities is recognized in income in the period that includes the enactment date. Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more-likely-than-not that some portion or all of the deferred tax assets will not be realized. See Note 8 for further information on income taxes.
Per share data	Per share data: Basic earnings per share calculations were computed by dividing net earnings attributable to Snap-on Incorporated by the corresponding weighted-average number of common shares outstanding for the period. The dilutive effect of the potential exercise of outstanding options and stock-settled stock appreciation rights (“SARs”) to purchase common shares is calculated using the treasury stock method. As of December 28, 2019, there were 1,215,695 awards outstanding that were anti-dilutive; as of December 29, 2018, there were 685,533 awards outstanding that were anti-dilutive; and as of December 30, 2017 there were 722,715 awards outstanding that were anti-dilutive. Performance-based equity awards are included in the diluted earnings per share calculation based on the attainment of the applicable performance metrics to date. Snap-on had dilutive securities totaling 748,395 shares, 986,984 shares and 1,207,285 shares, as of the end of 2019, 2018 and 2017, respectively. See Note 13 for further information on equity awards.
Stock-based compensation	Stock-based compensation: Snap-on recognizes the cost of employee services in exchange for awards of equity instruments based on the grant date fair value of those awards. That cost, based on the estimated number of awards that are expected to vest, is recognized on a straight-line basis over the period during which the employee is required to provide the service in exchange for the award. No compensation cost is recognized for awards for which employees do not render the requisite service. The grant date fair value of employee stock options and similar instruments is estimated using the Black-Scholes valuation model. The Black-Scholes valuation model requires the input of subjective assumptions, including the expected life of the stock-based award and stock price volatility. The assumptions used are management’s best estimates, but the estimates involve inherent uncertainties and the application of management judgment. As a result, if other assumptions had been used, the recorded stock-based compensation expense could have been materially different from that depicted in the financial statements. See Note 13 for further information on stock-based compensation.
Derivatives	Derivatives: Snap-on utilizes derivative financial instruments, including foreign currency forward contracts, interest rate swap agreements, treasury lock agreements and prepaid equity forward agreements to manage its exposures to foreign currency exchange rate risks, interest rate risks, and market risk associated with the stock-based portion of its deferred compensation plans. Snap-on accounts for its derivative instruments at fair value. Snap-on does not use financial instruments for speculative or trading purposes. See Note 10 for further information on derivatives.
Cash equivalents	Cash equivalents: Snap-on considers all highly liquid investments with an original maturity of three months or less to be cash equivalents. There were no cash equivalents as of 2019 and 2018 year ends.
Receivables and allowances for doubtful accounts	Receivables and allowances for doubtful accounts: All trade, finance and contract receivables are reported on the Consolidated Balance Sheets at their outstanding principal balance adjusted for any charge-offs and net of allowances for doubtful accounts. Finance and contract receivables also include accrued interest and contract acquisition costs, net of contract acquisition fees. Snap-on maintains allowances for doubtful accounts to absorb probable losses inherent in its portfolio of receivables. The allowances for doubtful accounts represent management’s estimate of the losses inherent in the company’s receivables portfolio based on ongoing assessments and evaluations of collectability and historical loss experience. In estimating losses inherent in each of its receivable portfolios (trade, finance and contract receivables), Snap-on uses historical loss experience rates by portfolio and applies them to a related aging analysis. Determination of the proper level of allowances by portfolio requires management to exercise judgment about the timing, frequency and severity of credit losses that could materially affect the allowance for doubtful accounts and, as a result, net earnings. The allowances take into consideration numerous quantitative and qualitative factors that include receivable type, historical loss experience, loss migration, delinquency trends, collection experience, current economic conditions and credit risk characteristics as follows: • Snap-on evaluates the collectability of receivables based on a combination of various financial and qualitative factors that may affect its customers’ ability to pay. These factors may include customers’ financial condition, debt-servicing ability, past payment experience, and credit bureau and proprietary Snap-on credit model information, as well as the value of the underlying collateral. • For finance and contract receivables, Snap-on assesses quantitative and qualitative factors through the use of credit quality indicators consisting primarily of collection experience and other internal metrics as follows: ◦ Collection experience – Snap-on conducts monthly reviews of credit and collection performance for each of its finance and contract receivable portfolios focusing on data such as delinquency trends, non-performing assets, and charge-off and recovery activity. These reviews allow for the formulation of collection strategies and potential collection policy modifications in response to changing risk profiles in the finance and contract receivable portfolios. ◦ Other internal metrics – Snap-on maintains a system that aggregates credit exposure by customer, risk classification and geographical area, among other factors, to further monitor changing risk profiles. Management performs detailed reviews of its receivables on a monthly and/or quarterly basis to assess the adequacy of the allowances based on historical and current trends and other factors affecting credit losses and to determine if any impairment has occurred. 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 agreement. Additions to the allowances for doubtful accounts are maintained through adjustments to the allowances, which are charged to current period earnings; amounts determined to be uncollectable are charged directly against the allowances, while amounts recovered on previously charged-off accounts increase the allowances. Net charge-offs include the principal amount of losses charged-off as well as charged-off interest and fees. Recovered interest and fees previously charged-off are recorded through the allowances for doubtful accounts and increase the allowances. Finance receivables are assessed for charge-off when an account becomes 120 days past due and are charged-off typically within 60 days of asset repossession. Contract receivables related to equipment leases are generally charged-off when an account becomes 150 days past due, while contract receivables related to franchise finance and van leases are generally charged-off up to 180 days past the asset return date. For finance and contract receivables, customer bankruptcies are generally charged-off upon notification that the associated debt is not being reaffirmed or, in any event, no later than 180 days past due. Snap-on does not believe that its trade accounts, finance or contract receivables represent significant concentrations of credit risk because of the diversified portfolio of individual customers and geographical areas. See Note 4 for further information on receivables and allowances for doubtful accounts.
Inventories	Inventories: Snap-on values its inventory at the lower of cost or market and adjusts for the value of inventory that is estimated to be excess, obsolete or otherwise unmarketable. Snap-on records allowances for excess and obsolete inventory based on historical and estimated future demand and market conditions. Allowances for raw materials are largely based on an analysis of raw material age and actual physical inspection of raw material for fitness for use. As part of evaluating the adequacy of allowances for work-in-progress and finished goods, management reviews individual product stock-keeping units (SKUs) by product category and product life cycle. Cost adjustments for each product category/product life-cycle state are generally established and maintained based on a combination of historical experience, forecasted sales and promotions, technological obsolescence, inventory age and other actual known conditions and circumstances. Should actual product marketability and raw material fitness for use be affected by conditions that are different from management estimates, further adjustments to inventory allowances may be required. Snap-on adopted the “last-in, first-out” (“LIFO”) inventory valuation method in 1973 for its U.S. locations. Snap-on’s U.S. inventories accounted for on a LIFO basis consist of purchased product and inventory manufactured at the company’s heritage U.S. manufacturing facilities (primarily hand tools and tool storage). Since Snap-on began acquiring businesses in the 1990’s, the company has used the “first-in, first-out” (“FIFO”) inventory valuation methodology for acquisitions; the company does not adopt the LIFO inventory valuation methodology for new acquisitions. See Note 5 for further information on inventories.
Property and equipment	Property and equipment: Property and equipment is stated at cost less accumulated depreciation and amortization. Depreciation and amortization are provided on a straight-line basis over estimated useful lives. Major repairs that extend the useful life of an asset are capitalized, while routine maintenance and repairs are expensed as incurred. Capitalized software included in property and equipment reflects costs related to internally developed or purchased software for internal use and is amortized on a straight-line basis over their estimated useful lives. Long-lived assets are evaluated for impairment when events or circumstances indicate that the carrying amount of the long-lived asset may not be recoverable. See Note 6 for further information on property and equipment.
Goodwill and other intangible assets	Goodwill and other intangible assets: Goodwill and other indefinite-lived assets are tested for impairment annually or more frequently if events or changes in circumstances indicate that the assets might be impaired. Annual impairment tests are performed by the company in the second quarter of each year using information available as of April month end. Snap-on evaluates the existence of goodwill and indefinite-lived intangible asset impairment on the basis of whether the assets are fully recoverable from projected, discounted cash flows of the related reportable unit or asset. Intangible assets with finite lives are amortized over their estimated useful lives using straight-line and accelerated methods depending on the nature of the particular asset. See Note 7 for further information on goodwill and other intangible assets.
New accounting standards	New accounting standards The following new accounting pronouncements were adopted in fiscal year 2019: In August 2017, the Financial Accounting Standards Board (the “FASB”) issued ASU No. 2017-12, Derivatives and Hedging (Topic 815) – Targeted Improvements to Accounting for Hedging Activities , which improves the financial reporting of hedging relationships to better portray the economic results of an entity’s risk management activities in its financial statements. The amendments in this update also make certain targeted improvements to simplify the application of the hedge accounting guidance in current GAAP. Snap-on adopted ASU No. 2017-12 at the beginning of its 2019 fiscal year. The adoption of this ASU resulted in new disclosures, including comparative information for all years presented, but otherwise had no impact on the company’s Consolidated Financial Statements. See Note 10 for further information on financial instruments. In February 2018, the FASB issued ASU No. 2018-02, Income Statement - Reporting Comprehensive Income - Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income (Topic 220) , which allows for a reclassification from accumulated other comprehensive income to retained earnings for stranded tax effects resulting from the Tax Cuts and Jobs Act (the “Tax Act”). Snap-on adopted this ASU at the beginning of its 2019 fiscal year, resulting in an increase of $45.9 million to Retained Earnings on the company’s Consolidated Statements of Equity with an offsetting decrease in Accumulated Other Comprehensive Income (Loss). See Note 18 for further information on accumulated other comprehensive income. In February 2016, the FASB issued ASU No. 2016-02, Leases (Topic 842) , to increase transparency and comparability among organizations by recognizing lease assets and lease liabilities on the balance sheet and disclosing key information about leasing arrangements. The ASU is intended to represent an improvement over previous GAAP, which did not require lease assets and lease liabilities to be recognized for most leases. Topic 842, which supersedes most current lease guidance, affects any entity that enters into a lease, with some specified scope exemptions. Snap-on adopted Topic 842 using the modified retrospective approach, with a date of initial application of December 30, 2018, the beginning of its 2019 fiscal year. Snap-on elected the package of practical expedients permitted under the standard, which allowed the company to carry forward historical lease classifications. The company also elected the practical expedient related to treating lease and non-lease components as a single lease component for all equipment leases as well as electing a policy exclusion permitting leases with an original lease term of less than one year to be excluded from the Right-of-Use (“ROU”) assets and lease liabilities. The adoption of this ASU did not have a significant impact on the company’s Consolidated Financial Statements. See Note 16 for further information on leases. In August 2018, the FASB issued ASU No. 2018-14, Compensation - Retirement Benefits - Defined Benefit Plans - General Subtopic 715-20 - Disclosure Framework - Changes to the Disclosure Requirements for Defined Benefit Plans , which is designed to improve the effectiveness of disclosures by removing and adding disclosures related to defined benefit plans. ASU No. 2018-14 is effective for fiscal years ending after December 15, 2020. In the fourth quarter of 2019, the company early adopted ASU 2018-14. The adoption resulted in new disclosures, including comparative information for all years presented, and the removal of certain disclosures no longer required. See Notes 11 and 12 for further information on retirement plans. The following new accounting pronouncements, and related impacts on adoption, are being evaluated by the company: In December 2019, the FASB issued ASU No. 2019-12, Simplifying the Accounting for Income Taxes , which is designed to simplify the accounting for income taxes by removing certain exceptions to the general principles in Topic 740. ASU 2019-12 is effective for fiscal years beginning after December 15, 2020, including interim periods within those fiscal years; this ASU allows for early adoption in any interim period after issuance of the update. The company is currently assessing the impact this ASU will have on its consolidated financial statements. In August 2018, the FASB issued ASU No. 2018-13, Fair Value Measurement (Topic 820) - Disclosure Framework - Changes to the Disclosure Requirements for Fair Value Measurement , which is designed to improve the effectiveness of disclosures by removing, modifying and adding disclosures related to fair value measurements. ASU No. 2018-13 is effective for fiscal years beginning after December 15, 2019, including interim periods within those fiscal years. The adoption of this ASU is not expected to have a significant impact on the company’s consolidated financial statements. In June 2016, the FASB issued ASU No. 2016-13, Financial Instruments – Credit Losses (Topic 326) , to require the measurement of expected credit losses for financial instruments held at the reporting date based on historical experience, current conditions and reasonable forecasts. The main objective of this ASU is to provide financial statement users with more information about the expected credit losses on financial instruments and other commitments to extend credit held by a reporting entity at each reporting date. ASU No. 2016-13 is effective for fiscal years beginning after December 15, 2019, including interim periods within those fiscal years. The adoption of ASU No. 2016-13 will require the company to record an estimate of all expected credit losses based on historical experience, current conditions, and a reasonable and supportable forecast. This guidance will replace the company’s current incurred loss model, which uses historical loss experience to estimate credit loss reserves. This ASU is expected to increase the company’s allowance for doubtful accounts as a result of: (i) recording reserves based on historical loss experience; (ii) extending the loss estimate period over the remaining contractual life of the receivable; and (iii) forecasting for future market conditions. Snap-on commenced its assessment of this ASU during the second half of 2018 and developed a comprehensive project plan that included representatives from the company’s business segments. The project plan included analyzing the standard’s potential change on the company’s allowance for doubtful accounts reserves, identifying reporting requirements of the new standard, and identifying changes to the company’s business processes, systems and controls to support the accounting and disclosures under this ASU. As of December 28, 2019, and subject to the company’s ongoing evaluation of the receivables portfolio, the company has completed its evaluation of the expected impact of adoption of ASU No. 2016-13 and anticipates that the adoption of this standard will result in an increase of the allowance for doubtful accounts for finance, contract and trade receivables of approximately $8 million with an offsetting adjustment, net of taxes, to fiscal 2020 beginning retained earnings. Updates to the allowance for doubtful accounts after initial adoption will be recorded through provision expense. The credit risk of the portfolio and the associated underwriting will not change with the adoption of this ASU.

Summary of Accounting Policie_2

Summary of Accounting Policies (Tables)	12 Months Ended
Summary of Accounting Policies (Tables)	Dec. 28, 2019
Accounting Policies [Abstract]
Other Accrued Liabilities	Supplemental balance sheet information for “Other accrued liabilities” as of 2019 and 2018 year end is as follows: (Amounts in millions) 2019 2018 Income taxes $ 23.9 $ 34.4 Accrued warranty 17.3 17.1 Operating lease liability 19.5 — Deferred subscription revenue 55.1 47.3 Accrued new tool return 50.9 43.7 Accrued property, payroll and other taxes 38.6 40.1 Accrued selling and promotion expense 28.3 28.7 Accrued legal charges — 30.9 Other 137.2 131.4 Total other accrued liabilities $ 370.8 $ 373.6

Revenue Recognition (Tables)

Revenue Recognition (Tables)	12 Months Ended
Revenue Recognition (Tables)	Dec. 28, 2019
Revenue from Contract with Customer [Abstract]
Disaggregation of Revenue	The following table shows the consolidated revenues by revenue source: (Amounts in millions) 2019 2018 Revenue from contracts with customers $ 3,708.3 $ 3,719.6 Other revenues 21.7 21.1 Total net sales 3,730.0 3,740.7 Financial services revenue 337.7 329.7 Total revenues $ 4,067.7 $ 4,070.4 The following table represents external net sales disaggregated by geography, based on the customers’ billing addresses: 2019 Commercial & Snap-on Repair Systems Industrial Tools & Information Financial Snap-on (Amounts in millions) Group Group Group Services Eliminations Incorporated Net sales: North America* $ 482.1 $ 1,406.1 $ 766.4 $ — $ — $ 2,654.6 Europe 291.7 131.9 241.3 — — 664.9 All other 264.4 74.9 71.2 — — 410.5 External net sales 1,038.2 1,612.9 1,078.9 — — 3,730.0 Intersegment net sales 307.5 — 255.6 — (563.1) — Total net sales 1,345.7 1,612.9 1,334.5 — (563.1) 3,730.0 Financial services revenue — — — 337.7 — 337.7 Total revenue $ 1,345.7 $ 1,612.9 $ 1,334.5 $ 337.7 $ (563.1) $ 4,067.7 2018 Commercial & Snap-on Repair Systems Industrial Tools & Information Financial Snap-on (Amounts in millions) Group Group Group Services Eliminations Incorporated Net sales: North America* $ 466.5 $ 1,378.7 $ 747.1 $ — $ — $ 2,592.3 Europe 311.9 151.3 255.2 — — 718.4 All other 273.2 83.8 73.0 — — 430.0 External net sales 1,051.6 1,613.8 1,075.3 — — 3,740.7 Intersegment net sales 291.7 — 259.1 — (550.8) — Total net sales 1,343.3 1,613.8 1,334.4 — (550.8) 3,740.7 Financial services revenue — — — 329.7 — 329.7 Total revenue $ 1,343.3 $ 1,613.8 $ 1,334.4 $ 329.7 $ (550.8) $ 4,070.4 * North America is comprised of the United States, Canada and Mexico. The following table represents external net sales disaggregated by customer type: 2019 Commercial & Snap-on Repair Systems Industrial Tools & Information Financial Snap-on (Amounts in millions) Group Group Group Services Eliminations Incorporated Net sales: Vehicle service professionals $ 85.5 $ 1,612.9 $ 1,078.9 $ — $ — $ 2,777.3 All other professionals 952.7 — — — — 952.7 External net sales 1,038.2 1,612.9 1,078.9 — — 3,730.0 Intersegment net sales 307.5 — 255.6 — (563.1) — Total net sales 1,345.7 1,612.9 1,334.5 — (563.1) 3,730.0 Financial services revenue — — — 337.7 — 337.7 Total revenue $ 1,345.7 $ 1,612.9 $ 1,334.5 $ 337.7 $ (563.1) $ 4,067.7 2018 Commercial & Snap-on Repair Systems Industrial Tools & Information Financial Snap-on (Amounts in millions) Group Group Group Services Eliminations Incorporated Net sales: Vehicle service professionals $ 91.1 $ 1,613.8 $ 1,075.3 $ — $ — $ 2,780.2 All other professionals 960.5 — — — — 960.5 External net sales 1,051.6 1,613.8 1,075.3 — — 3,740.7 Intersegment net sales 291.7 — 259.1 — (550.8) — Total net sales 1,343.3 1,613.8 1,334.4 — (550.8) 3,740.7 Financial services revenue — — — 329.7 — 329.7 Total revenue $ 1,343.3 $ 1,613.8 $ 1,334.4 $ 329.7 $ (550.8) $ 4,070.4

Receivables (Tables)

Receivables (Tables)	12 Months Ended
Receivables (Tables)	Dec. 28, 2019
Receivables [Abstract]
Schedule of Accounts , Finance, and Contract Receivables	The components of Snap-on’s trade and other accounts receivable as of 2019 and 2018 year end are as follows: (Amounts in millions) 2019 2018 Trade and other accounts receivable $ 715.5 $ 710.1 Allowances for doubtful accounts (20.9) (17.5) Total trade and other accounts receivable – net $ 694.6 $ 692.6 The components of Snap-on’s current finance and contract receivables as of 2019 and 2018 year end are as follows: (Amounts in millions) 2019 2018 Finance installment receivables $ 511.9 $ 499.0 Finance lease receivables, net of unearned finance charges of $11.7 million and $11.4 million, respectively 37.9 39.1 Total finance receivables 549.8 538.1 Contract installment receivables 50.8 48.9 Contract lease receivables, net of unearned finance charges of $18.2 million and $18.4 million, respectively 51.4 50.6 Total contract receivables 102.2 99.5 Total 652.0 637.6 Allowances for doubtful accounts: Finance installment receivables (19.2) (19.0) Finance lease receivables (0.5) (0.6) Total finance allowance for doubtful accounts (19.7) (19.6) Contract installment receivables (0.5) (0.4) Contract lease receivables (1.0) (0.8) Total contract allowance for doubtful accounts (1.5) (1.2) Total allowance for doubtful accounts (21.2) (20.8) Total current finance and contract receivables – net $ 630.8 $ 616.8 Finance receivables – net $ 530.1 $ 518.5 Contract receivables – net 100.7 98.3 Total current finance and contract receivables – net $ 630.8 $ 616.8 The components of Snap-on’s finance and contract receivables with payment terms beyond one year as of 2019 and 2018 year end are as follows: (Amounts in millions) 2019 2018 Finance installment receivables $ 1,106.0 $ 1,080.1 Finance lease receivables, net of unearned finance charges of $8.2 million and $6.7 million, respectively 39.7 36.1 Total finance receivables 1,145.7 1,116.2 Contract installment receivables 195.5 190.6 Contract lease receivables, net of unearned finance charges of $29.4 million and $27.8 million, respectively 168.7 157.4 Total contract receivables 364.2 348.0 Total 1,509.9 1,464.2 Allowances for doubtful accounts: Finance installment receivables (41.6) (41.3) Finance lease receivables (0.6) (0.5) Total finance allowance for doubtful accounts (42.2) (41.8) Contract installment receivables (1.8) (1.5) Contract lease receivables (2.3) (1.6) Total contract allowance for doubtful accounts (4.1) (3.1) Total allowance for doubtful accounts (46.3) (44.9) Total current finance and contract receivables – net $ 1,463.6 $ 1,419.3 Finance receivables – net $ 1,103.5 $ 1,074.4 Contract receivables – net 360.1 344.9 Total current finance and contract receivables – net $ 1,463.6 $ 1,419.3
Schedule of Long-Term Finance and Contract Receivables	Long-term finance and contract receivables installments, net of unearned finance charges, as of 2019 and 2018 year end are scheduled as follows: 2019 2018 (Amounts in millions) Finance Contract Finance Contract Due in Months: 13 – 24 $ 439.1 $ 86.4 $ 428.7 $ 82.2 25 – 36 352.4 76.9 345.0 72.5 37 – 48 238.0 65.6 232.8 60.5 49 – 60 116.2 51.3 109.7 48.8 Thereafter — 84.0 — 84.0 Total $ 1,145.7 $ 364.2 $ 1,116.2 $ 348.0
Financing Receivable, Past Due	The aging of finance and contract receivables as of 2019 and 2018 year end is as follows: (Amounts in millions) 30-59 60-90 Greater Total Past Total Not Past Total Greater 2019 year end: Finance receivables $ 19.7 $ 12.0 $ 21.4 $ 53.1 $ 1,642.4 $ 1,695.5 $ 17.2 Contract receivables 1.5 0.9 1.5 3.9 462.5 466.4 0.5 2018 year end: Finance receivables $ 19.4 $ 12.1 $ 20.3 $ 51.8 $ 1,602.5 $ 1,654.3 $ 15.9 Contract receivables 1.7 1.2 5.2 8.1 439.4 447.5 0.2
Financing Receivable Credit Quality Indicators	The amount of performing and nonperforming finance and contract receivables based on payment activity as of 2019 and 2018 year end is as follows: 2019 2018 (Amounts in millions) Finance Contract Finance Contract Performing $ 1,666.1 $ 463.7 $ 1,626.4 $ 441.5 Nonperforming 29.4 2.7 27.9 6.0 Total $ 1,695.5 $ 466.4 $ 1,654.3 $ 447.5
Financing Receivable, Nonaccrual	The amount of finance and contract receivables on nonaccrual status as of 2019 and 2018 year end is as follows: (Amounts in millions) 2019 2018 Finance receivables $ 12.2 $ 12.0 Contract receivables 2.2 5.8
Financing Receivable, Allowance for Credit Loss	The following is a rollforward of the allowances for doubtful accounts for finance and contract receivables for 2019 and 2018: 2019 2018 (Amounts in millions) Finance Contract Finance Contract Allowances for doubtful accounts: Beginning of year $ 61.4 $ 4.3 $ 56.5 $ 4.6 Provision 49.9 4.7 57.5 2.0 Charge-offs (57.1) (3.9) (59.4) (2.5) Recoveries 7.7 0.5 7.1 0.4 Currency translation — — (0.3) (0.2) End of year $ 61.9 $ 5.6 $ 61.4 $ 4.3
Rollforward of Combined Allowances for Doubtful Accounts Related to Trade and Other Accounts Receivable	The following is a rollforward of the combined allowances for doubtful accounts related to trade and other accounts receivable, as well as finance and contract receivables, for 2019, 2018 and 2017: (Amounts in millions) Balance at Expenses Deductions (1) Balance at Allowances for doubtful accounts: 2019 $ 83.2 $ 68.2 $ (63.0) $ 88.4 2018 75.7 70.3 (62.8) 83.2 2017 66.5 65.1 (55.9) 75.7 (1) Represents write-offs of bad debts, net of recoveries, and the net impact of currency translation.

Inventories (Tables)

Inventories (Tables)	12 Months Ended
Inventories (Tables)	Dec. 28, 2019
Inventory Disclosure [Abstract]
Inventories by Major Classification	Inventories by major classification as of 2019 and 2018 year end are as follows: (Amounts in millions) 2019 2018 Finished goods $ 661.0 $ 577.0 Work in progress 57.1 51.7 Raw materials 126.8 123.5 Total FIFO value 844.9 752.2 Excess of current cost over LIFO cost (84.5) (78.4) Total inventories – net $ 760.4 $ 673.8

Property and Equipment (Tables)

Property and Equipment (Tables)	12 Months Ended
Property and Equipment (Tables)	Dec. 28, 2019
Property, Plant and Equipment [Abstract]
Schedule of Property and Equipment	Property and equipment (which are carried at cost) as of 2019 and 2018 year end are as follows: (Amounts in millions) 2019 2018 Land $ 31.9 $ 31.7 Buildings and improvements 405.1 368.6 Machinery, equipment and computer software 988.0 944.4 Property and equipment – gross 1,425.0 1,344.7 Accumulated depreciation and amortization (903.5) (849.6) Property and equipment – net $ 521.5 $ 495.1
Summary of Estimated Service Lives of Property and Equipment	The estimated service lives of property and equipment are principally as follows: Buildings and improvements 3 to 50 years Machinery, equipment and computer software 2 to 15 years

Goodwill and Other Intangible_2

Goodwill and Other Intangible Assets (Tables)	12 Months Ended
Goodwill and Other Intangible Assets (Tables)	Dec. 28, 2019
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 2019 and 2018 are as follows: (Amounts in millions) Commercial Snap-on Repair Systems Total Balance as of 2017 year end $ 298.4 $ 12.5 $ 613.2 $ 924.1 Currency translation (16.3) — (9.7) (26.0) Acquisitions 4.1 — — 4.1 Balance as of 2018 year end $ 286.2 $ 12.5 $ 603.5 $ 902.2 Currency translation (6.4) — (1.1) (7.5) Acquisitions 6.4 — 12.7 19.1 Balance as of 2019 year end $ 286.2 $ 12.5 $ 615.1 $ 913.8
Other Intangible Assets by Major Class	Additional disclosures related to other intangible assets as of 2019 and 2018 year end are as follows: 2019 2018 (Amounts in millions) Gross Accumulated Gross Accumulated Amortized other intangible assets: Customer relationships $ 182.9 $ (117.9) $ 172.2 $ (107.6) Developed technology 19.8 (18.9) 18.5 (18.3) Internally developed software 168.0 (125.4) 156.6 (116.6) Patents 38.5 (23.7) 35.7 (22.9) Trademarks 3.5 (2.1) 3.2 (2.0) Other 7.3 (3.1) 7.3 (2.9) Total 420.0 (291.1) 393.5 (270.3) Non-amortized trademarks 115.0 — 109.7 — Total other intangible assets $ 535.0 $ (291.1) $ 503.2 $ (270.3)
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 Developed technology 2 Internally developed software 6 Patents 7 Trademarks 5 Other 39

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
Income Taxes (Tables)	Dec. 28, 2019
Income Tax Disclosure [Abstract]
Earnings Before Income Taxes and Equity Earnings	The source of earnings before income taxes and equity earnings consisted of the following: (Amounts in millions) 2019 2018 2017 United States $ 765.3 $ 735.4 $ 645.5 Foreign 156.8 174.5 176.4 Total $ 922.1 $ 909.9 $ 821.9
Components of Income Tax	The provision (benefit) for income taxes consisted of the following: (Amounts in millions) 2019 2018 2017 Current: Federal $ 110.0 $ 117.9 $ 166.9 Foreign 38.1 52.4 41.1 State 29.5 30.4 30.6 Total current 177.6 200.7 238.6 Deferred: Federal 26.6 18.7 8.7 Foreign 1.5 (8.4) 2.9 State 6.1 3.4 0.7 Total deferred 34.2 13.7 12.3 Total income tax provision $ 211.8 $ 214.4 $ 250.9
Reconciliation of Statutory Federal Income Tax Rate	The following is a reconciliation of the statutory federal income tax rate to Snap-on’s effective tax rate: 2019 2018 2017 Statutory federal income tax rate 21.0% 21.0% 35.0% Increase (decrease) in tax rate resulting from: State income taxes, net of federal benefit 2.9 2.9 2.4 Noncontrolling interests (0.4) (0.4) (0.6) Repatriation of foreign earnings (0.1) (0.1) (1.2) Change in valuation allowance for deferred tax assets 0.4 0.3 0.1 Adjustments to tax accruals and reserves (0.4) (0.2) (0.3) Foreign rate differences 0.4 0.4 (2.4) Domestic production activities deduction — — (2.1) Excess tax benefits related to equity compensation (0.5) (0.8) (1.4) U.S. tax reform, net impact — 0.4 0.9 Other (0.3) 0.1 0.1 Effective tax rate 23.0% 23.6% 30.5%
Schedule of Deferred Tax Assets and Liabilities	Temporary differences that give rise to the net deferred income tax asset as of 2019, 2018 and 2017 year end are as follows: (Amounts in millions) 2019 2018 2017 Deferred income tax assets (liabilities): Inventories $ 34.7 $ 33.6 $ 28.8 Accruals not currently deductible 62.4 72.9 61.7 Tax credit carryforward 2.0 1.8 2.1 Employee benefits 41.3 56.5 56.8 Net operating losses 40.4 40.9 44.0 Depreciation and amortization (178.9) (167.5) (161.3) Valuation allowance (27.8) (25.1) (25.2) Equity-based compensation 16.2 16.6 17.1 Undistributed non-U.S. earnings (6.6) (6.0) — Cash flow hedge — — (0.3) Other (0.7) (0.4) (0.1) Net deferred income tax asset (liability) $ (17.0) $ 23.3 $ 23.6
Operating Loss Carry Forwards	As of 2019 year end, Snap-on had tax net operating loss carryforwards totaling $209.6 million as follows: (Amounts in millions) State Federal Foreign Total Year of expiration: 2020-2024 $ 0.3 $ — $ 59.0 $ 59.3 2025-2029 — — 9.4 9.4 2030-2034 74.4 — — 74.4 2035-2039 — — — — 2040-2044 — — 34.1 34.1 Indefinite — — 32.4 32.4 Total net operating loss carryforwards $ 74.7 $ — $ 134.9 $ 209.6
Reconciliation of Unrecognized Tax Benefits	The following is a reconciliation of the beginning and ending amounts of unrecognized tax benefits for 2019, 2018 and 2017: (Amounts in millions) 2019 2018 2017 Unrecognized tax benefits at beginning of year $ 11.1 $ 7.7 $ 9.4 Gross increases – tax positions in prior periods — 1.3 1.4 Gross decreases – tax positions in prior periods (0.6) (0.1) — Gross increases – tax positions in the current period 0.5 2.8 1.0 Settlements with taxing authorities — — (3.6) Lapsing of statutes of limitations (0.7) (0.6) (0.5) Unrecognized tax benefits at end of year $ 10.3 $ 11.1 $ 7.7

Short-term and Long-term Debt (

Short-term and Long-term Debt (Tables)	12 Months Ended
Short-term and Long-term Debt (Tables)	Dec. 28, 2019
Debt Disclosure [Abstract]
Short-term and Long-term Debt	Short-term and long-term debt as of 2019 and 2018 year end consisted of the following: (Amounts in millions) 2019 2018 6.125% unsecured notes due 2021 $ 250.0 $ 250.0 3.25% unsecured notes due 2027 300.0 300.0 4.10% unsecured notes due 2048 400.0 400.0 Other debt* 199.8 182.3 1,149.8 1,132.3 Less: notes payable: Commercial paper borrowings $ (193.6) $ (177.1) Other notes (9.3) (9.2) (202.9) (186.3) Total long-term debt $ 946.9 $ 946.0 * Includes the net effects of debt amortization costs and fair value adjustments related to interest rate swaps.

Financial Instruments (Tables)

Financial Instruments (Tables)	12 Months Ended
Financial Instruments (Tables)	Dec. 28, 2019
Investments, All Other Investments [Abstract]
Fair Values of Derivative Instruments Included within Accompanying Consolidated Balance Sheets	Consolidated Balance Sheets Line Item Where Hedge Item is Recorded Carrying Amount of the Hedged Assets/(Liabilities) Cumulative Amount of Fair Value Hedging Adjustment Included in the Carrying Amount of the Hedged Assets/(Liabilities) (in millions) (in millions) 2019 2018 2019 2018 Long-term debt (1) ($255.0) ($254.6) ($5.0) ($4.6) (1) The interest rate swap transacted in March 2010 was designated as a hedge of the first $100 million issuance of the $250 million, 6.125% unsecured notes due in 2021. 2019 2018 (Amounts in millions) Balance Sheet Derivative Derivative Derivative Derivative Derivatives designated as hedging instruments: Interest rate swaps Other assets $ 5.0 $ — $ 4.6 $ — Derivatives not designated as hedging instruments: Foreign currency forwards Prepaid expenses and other assets $ 3.5 $ — $ 2.8 $ — Foreign currency forwards Other accrued liabilities — 4.6 — 3.2 Equity forwards Prepaid expenses and other assets 15.2 — 14.3 — 18.7 4.6 17.1 3.2 Total derivative instruments $ 23.7 $ 4.6 $ 21.7 $ 3.2
Effect of Derivative Instruments Designated as Cash Flow Hedges Included in AOCI on the Consolidated Balance Sheets	The effect of derivative instruments designated as cash flow hedges as included in the Accumulated OCI on the Consolidated Balance Sheets is as follows: Amount of Gain (Loss) Recognized in Other Comprehensive Income on Derivative (Amounts in millions) 2019 2018 2017 Derivatives in Hedging Relationships Treasury locks $ — $ (0.8) $ 6.9
Effect of Derivative Instruments Designated as Fair Value and Cash Flow Hedges Included in the Consolidated Statements of Earnings	The effect of derivative instruments designated as fair value and cash flow hedges as included in the Consolidated Statements of Earnings is as follows: Gain (Loss) Recognized in Income on Fair Value and Cash Flow Hedging Relationships 2019 2018 2017 (Amounts in millions) Interest expense Other income (expense) - net Interest expense Other income (expense) - net Interest expense Other income (expense) - net Total amounts of income and expense presented in the Consolidated Statements of Earnings $ (49.0) $ 8.8 $ (50.4) $ 4.2 $ (52.4) $ (7.8) Gain (loss) on fair value hedging relationships Interest rate swaps Long-term debt $ (15.4) $ — $ (15.4) $ — $ (15.4) $ — Derivatives designated as hedging instruments 2.0 — 1.5 — 2.8 — Gain (loss) on cash flow hedging relationships Treasury locks Gain reclassified from accumulated OCI into income $ 1.5 $ — $ 1.5 $ — $ 1.6 $ — Gain on settlement — — — 13.3 — —
Derivative Instruments Not Designated as Hedges Included in Consolidated Statements of Earnings	The effects of derivative instruments not designated as hedging instruments as included in the Consolidated Statements of Earnings are as follows: Derivatives not designated as hedging instruments Statement of Gain (Loss) Recognized in (Amounts in millions) 2019 2018 2017 Gain (loss) on derivative relationships Foreign currency forwards Other income $ (20.0) $ (40.4) $ (25.8) Net exposures Other income 16.4 36.5 18.8 Equity forwards Operating expenses $ 3.0 $ (2.1) $ 0.9 Stock-based deferred compensation liabilities Operating expenses (3.0) 2.0 (0.8)
Fair Values of Financial Instruments Not Approximating Carrying Values in Financial Statements	The fair values of financial instruments that do not approximate the carrying values in the financial statements as of 2019 and 2018 year end are as follows: 2019 2018 (Amounts in millions) Carrying Fair Carrying Fair Finance receivables – net $ 1,633.6 $ 1,920.6 $ 1,592.9 $ 1,845.4 Contract receivables – net 460.8 505.5 443.2 481.2 Long-term debt and notes payable 1,149.8 1,238.8 1,132.3 1,136.0

Pension Plans (Tables)

Pension Plans (Tables)	12 Months Ended
Pension Plans (Tables)	Dec. 28, 2019
Retirement Benefits [Abstract]
Summary of Change in Benefit Obligation	The status of Snap-on’s pension plans as of 2019 and 2018 year end is as follows: (Amounts in millions) 2019 2018 Change in projected benefit obligation: Benefit obligation at beginning of year $ 1,386.9 $ 1,467.6 Service cost 23.5 25.1 Interest cost 56.4 52.8 Plan participant contributions 0.5 0.5 Plan amendments — 1.0 Benefits paid (73.0) (68.5) Actuarial (gain) loss 169.5 (77.9) Foreign currency impact 1.8 (13.7) Benefit obligation at end of year $ 1,565.6 $ 1,386.9 The status of Snap-on’s U.S. postretirement health care plans as of 2019 and 2018 year end is as follows: (Amounts in millions) 2019 2018 Change in accumulated postretirement benefit obligation: Benefit obligation at beginning of year $ 46.8 $ 52.5 Interest cost 1.9 1.8 Plan participant contributions 0.3 0.3 Benefits paid (4.2) (4.5) Actuarial (gain) loss 4.4 (3.3) Benefit obligation at end of year $ 49.2 $ 46.8
Summary of Change in Fair Value of Plan Assets	(Amounts in millions) 2019 2018 Change in plan assets: Fair value of plan assets at beginning of year $ 1,215.6 $ 1,305.0 Actual (loss) gain on plan assets 258.7 (72.8) Employer contributions 50.8 61.3 Plan participant contributions 0.4 0.5 Benefits paid (73.0) (68.5) Foreign currency impact 3.0 (9.9) Fair value of plan assets at end of year $ 1,455.5 $ 1,215.6 Unfunded status at end of year $ (110.1) $ (171.3) Change in plan assets: Fair value of plan assets at beginning of year $ 12.1 $ 13.4 Actual return on plan assets 1.5 (0.2) Employer contributions 3.1 3.1 Plan participant contributions 0.3 0.3 Benefits paid (4.2) (4.5) Fair value of plan assets at end of year $ 12.8 $ 12.1 Unfunded status at end of year $ (36.4) $ (34.7)
Summary of Amounts Recognized in Consolidated Balance Sheets	Amounts recognized in the Consolidated Balance Sheets as of 2019 and 2018 year end are as follows: (Amounts in millions) 2019 2018 Other assets $ 17.3 $ 4.3 Accrued benefits (5.3) (4.3) Pension liabilities (122.1) (171.3) Net liability $ (110.1) $ (171.3) Amounts recognized in the Consolidated Balance Sheets as of 2019 and 2018 year end are as follows: (Amounts in millions) 2019 2018 Accrued benefits $ (2.8) $ (2.9) Retiree health care benefits (33.6) (31.8) Net liability $ (36.4) $ (34.7)
Schedule of Net Periodic Benefit Costs in AOCI	Amounts included in Accumulated OCI on the accompanying Consolidated Balance Sheets as of 2019 and 2018 year end are as follows: (Amounts in millions) 2019 2018 Net loss, net of tax of $104.8 million and $158.8 million, respectively $ (333.8) $ (301.9) Prior service cost, net of tax of ($0.1) million and $0.4 million, respectively (0.6) (0.2) Total amount included in Accumulated OCI $ (334.4) $ (302.1) (Amounts in millions) 2019 2018 Net gain, net of tax of $1.1 million and $3.1 million, respectively $ 3.2 $ 5.6
Summary of Benefit Obligations in Excess of Fair Value of Plan Assets	The projected benefit obligation, accumulated benefit obligation and fair value of plan assets for Snap-on’s pension plans as of 2019 and 2018 year end are as follows: (Amounts in millions) 2019 2018 Pension plans with accumulated benefit obligations in excess of plan assets: Accumulated benefit obligation $ 231.0 $ 1,028.6 Fair value of plan assets 126.5 916.2 Pension plans with projected benefit obligations in excess of plans assets: Projected benefit obligation $ 1,336.9 $ 1,183.2 Fair value of plan assets 1,209.5 1,007.6
Summary of Components of Net Periodic Benefit Costs and Other Amounts Recognized in Other Comprehensive Income (Loss)	The components of net periodic benefit cost and changes recognized in “Other comprehensive income (loss)” (“OCI”) are as follows: (Amounts in millions) 2019 2018 2017 Net periodic benefit cost: Service cost $ 23.5 $ 25.1 $ 22.7 Interest cost 56.4 52.8 56.1 Expected return on plan assets (91.5) (88.6) (83.4) Amortization of unrecognized loss 25.2 32.7 27.9 Amortization of prior service credit (0.9) (1.2) (1.1) Settlement loss — — 0.1 Net periodic benefit cost $ 12.7 $ 20.8 $ 22.3 Changes in benefit obligations recognized in OCI, net of tax: Net (gain) loss $ 31.9 $ 35.2 $ (30.3) Prior service cost 0.4 1.7 0.7 Total recognized in OCI $ 32.3 $ 36.9 $ (29.6) The components of net periodic benefit cost and changes recognized in OCI are as follows: (Amounts in millions) 2019 2018 2017 Net periodic benefit cost: Interest cost $ 1.9 $ 1.8 $ 2.1 Expected return on plan assets (0.7) (0.8) (0.8) Amortization of unrecognized gain (0.8) (0.4) (0.3) Net periodic benefit cost $ 0.4 $ 0.6 $ 1.0 Changes in benefit obligations recognized in OCI, net of tax: Net (gain) loss $ 2.4 $ (1.4) $ 0.6
Summary of Weighted-Average Assumptions Used to Determine Full-Year Pension Costs	The worldwide weighted-average assumptions used to determine Snap-on’s full-year pension costs are as follows: 2019 2018 2017 Discount rate 4.2% 3.7% 4.2% Expected return on plan assets 7.1% 7.1% 7.2% Rate of compensation increase 3.4% 3.4% 3.4% The worldwide weighted-average assumptions used to determine Snap-on’s projected benefit obligation as of 2019 and 2018 year end are as follows: 2019 2018 Discount rate 3.2% 4.4% Rate of compensation increase 3.4% 3.4% Interest crediting rate - U.S. cash balance plan 3.8% 3.8% The weighted-average discount rate used to determine Snap-on’s postretirement health care expense is as follows: 2019 2018 2017 Discount rate 4.2% 3.6% 4.1% The weighted-average discount rate used to determine Snap-on’s accumulated benefit obligation is as follows: 2019 2018 Discount rate 3.1% 4.2%
Summary of Expected Benefit Payments	The following benefit payments, which reflect expected future service, are expected to be paid as follows: (Amounts in millions) Amount Year: 2020 $ 81.7 2021 84.3 2022 95.1 2023 91.3 2024 94.6 2025-2029 498.9 (Amounts in millions) Amount Year: 2020 $ 3.7 2021 3.8 2022 3.8 2023 3.9 2024 4.0 2025-2029 20.3
Schedule of Allocation of Plan Assets	Snap-on’s domestic pension plans’ target allocation and actual weighted-average asset allocation by asset category and fair value of plan assets as of 2019 and 2018 year end are as follows: Target 2019 2018 Asset category: Equity securities 51% 51% 49% Debt securities and cash and cash equivalents 37% 40% 40% Real estate and other real assets 2% 1% 1% Hedge funds 10% 8% 10% Total 100% 100% 100% Fair value of plan assets (Amounts in millions) $1,260.5 $1,049.0 The following is a summary, by asset category, of the fair value and the level within the fair value hierarchy of Snap-on’s domestic pension plans’ assets as of 2019 year end: (Amounts in millions) Quoted Significant Investments Total Asset category: Cash and cash equivalents $ 25.6 $ — $ — $ 25.6 Equity securities: Domestic 95.1 — — 95.1 Foreign 58.4 — — 58.4 Commingled funds – domestic — — 263.6 263.6 Commingled funds – foreign — — 209.4 209.4 Private equity partnerships — — 17.4 17.4 Debt securities: Government 144.0 2.7 — 146.7 Corporate bonds — 327.7 — 327.7 Real estate and other real assets — — 8.8 8.8 Hedge funds — — 107.8 107.8 Total $ 323.1 $ 330.4 $ 607.0 $ 1,260.5 The following is a summary, by asset category, of the fair value and the level within the fair value hierarchy of Snap-on’s domestic pension plans’ assets as of 2018 year end: (Amounts in millions) Quoted Significant Investments Total Asset category: Cash and cash equivalents $ 17.8 $ — $ — $ 17.8 Equity securities: Domestic 70.5 — — 70.5 Foreign 87.5 — — 87.5 Commingled funds – domestic — — 200.6 200.6 Commingled funds – foreign — — 128.4 128.4 Private equity partnerships — — 22.7 22.7 Debt securities: Government 131.2 2.6 — 133.8 Corporate bonds — 271.3 — 271.3 Real estate and other real assets — — 11.9 11.9 Hedge funds — — 104.5 104.5 Total $ 307.0 $ 273.9 $ 468.1 $ 1,049.0 Snap-on’s foreign pension plans’ target allocation and actual weighted-average asset allocation by asset category and fair value of plan assets as of 2019 and 2018 year end are as follows: Target 2019 2018 Asset category: Equity securities* 46% 46% 35% Debt securities* and cash and cash equivalents 40% 40% 42% Insurance contracts and hedge funds 14% 14% 23% Total 100% 100% 100% Fair value of plan assets (Amounts in millions) $195.0 $166.6 * Includes commingled funds - multi-strategy The following is a summary, by asset category, of the fair value and the level within the fair value hierarchy of Snap-on’s foreign pension plans’ assets as of 2019 year end: (Amounts in millions) Quoted Significant Investments Total Asset category: Cash and cash equivalents $ 0.9 $ — $ — $ 0.9 Commingled funds – multi-strategy — — 135.5 135.5 Debt securities: Government 10.1 — — 10.1 Corporate bonds — 21.4 — 21.4 Insurance contracts — 27.1 — 27.1 Total $ 11.0 $ 48.5 $ 135.5 $ 195.0 The following is a summary, by asset category, of the fair value and the level within the fair value hierarchy of Snap-on’s foreign pension plans’ assets as of 2018 year end: (Amounts in millions) Quoted Significant Investments Total Asset category: Cash and cash equivalents $ 1.2 $ — $ — $ 1.2 Commingled funds – multi-strategy — — 101.5 101.5 Debt securities: Government 8.3 — — 8.3 Corporate bonds — 17.5 — 17.5 Insurance contracts — 23.8 — 23.8 Hedge fund — — 14.3 14.3 Total $ 9.5 $ 41.3 $ 115.8 $ 166.6 Snap-on’s VEBA plan target allocation and actual weighted-average asset allocation by asset category and fair value of plan assets as of 2019 and 2018 year end are as follows: Target 2019 2018 Asset category: Debt securities and cash and cash equivalents 46% 51% 56% Equity securities 29% 31% 26% Hedge funds 25% 18% 18% Total 100% 100% 100% Fair value of plan assets (Amounts in millions) $12.8 $12.1 The following is a summary, by asset category, of the fair value and the level within the fair value hierarchy of the VEBA plan assets as of 2019 year end: (Amounts in millions) Quoted Investments Measured at Total Asset category: Cash and cash equivalents $ 0.5 $ — $ 0.5 Debt securities 6.0 — 6.0 Equity securities — 4.0 4.0 Hedge fund — 2.3 2.3 Total $ 6.5 $ 6.3 $ 12.8 The following is a summary, by asset category, of the fair value and the level within the fair value hierarchy of the VEBA plan assets as of 2018 year end: (Amounts in millions) Quoted Investments Measured at Total Asset category: Cash and cash equivalents $ 1.3 $ — $ 1.3 Debt securities 5.5 — 5.5 Equity securities — 3.1 3.1 Hedge fund — 2.2 2.2 Total $ 6.8 $ 5.3 $ 12.1

Postretirement Plans (Tables)

Postretirement Plans (Tables)	12 Months Ended
Postretirement Plans (Tables)	Dec. 28, 2019
Retirement Benefits [Abstract]
Summary of Change in Benefit Obligation	The status of Snap-on’s pension plans as of 2019 and 2018 year end is as follows: (Amounts in millions) 2019 2018 Change in projected benefit obligation: Benefit obligation at beginning of year $ 1,386.9 $ 1,467.6 Service cost 23.5 25.1 Interest cost 56.4 52.8 Plan participant contributions 0.5 0.5 Plan amendments — 1.0 Benefits paid (73.0) (68.5) Actuarial (gain) loss 169.5 (77.9) Foreign currency impact 1.8 (13.7) Benefit obligation at end of year $ 1,565.6 $ 1,386.9 The status of Snap-on’s U.S. postretirement health care plans as of 2019 and 2018 year end is as follows: (Amounts in millions) 2019 2018 Change in accumulated postretirement benefit obligation: Benefit obligation at beginning of year $ 46.8 $ 52.5 Interest cost 1.9 1.8 Plan participant contributions 0.3 0.3 Benefits paid (4.2) (4.5) Actuarial (gain) loss 4.4 (3.3) Benefit obligation at end of year $ 49.2 $ 46.8
Summary of Change in Fair Value of Plan Assets	(Amounts in millions) 2019 2018 Change in plan assets: Fair value of plan assets at beginning of year $ 1,215.6 $ 1,305.0 Actual (loss) gain on plan assets 258.7 (72.8) Employer contributions 50.8 61.3 Plan participant contributions 0.4 0.5 Benefits paid (73.0) (68.5) Foreign currency impact 3.0 (9.9) Fair value of plan assets at end of year $ 1,455.5 $ 1,215.6 Unfunded status at end of year $ (110.1) $ (171.3) Change in plan assets: Fair value of plan assets at beginning of year $ 12.1 $ 13.4 Actual return on plan assets 1.5 (0.2) Employer contributions 3.1 3.1 Plan participant contributions 0.3 0.3 Benefits paid (4.2) (4.5) Fair value of plan assets at end of year $ 12.8 $ 12.1 Unfunded status at end of year $ (36.4) $ (34.7)
Summary of Amounts Recognized in Consolidated Balance Sheets	Amounts recognized in the Consolidated Balance Sheets as of 2019 and 2018 year end are as follows: (Amounts in millions) 2019 2018 Other assets $ 17.3 $ 4.3 Accrued benefits (5.3) (4.3) Pension liabilities (122.1) (171.3) Net liability $ (110.1) $ (171.3) Amounts recognized in the Consolidated Balance Sheets as of 2019 and 2018 year end are as follows: (Amounts in millions) 2019 2018 Accrued benefits $ (2.8) $ (2.9) Retiree health care benefits (33.6) (31.8) Net liability $ (36.4) $ (34.7)
Schedule of Net Periodic Benefit Costs in AOCI	Amounts included in Accumulated OCI on the accompanying Consolidated Balance Sheets as of 2019 and 2018 year end are as follows: (Amounts in millions) 2019 2018 Net loss, net of tax of $104.8 million and $158.8 million, respectively $ (333.8) $ (301.9) Prior service cost, net of tax of ($0.1) million and $0.4 million, respectively (0.6) (0.2) Total amount included in Accumulated OCI $ (334.4) $ (302.1) (Amounts in millions) 2019 2018 Net gain, net of tax of $1.1 million and $3.1 million, respectively $ 3.2 $ 5.6
Summary of Components of Net Periodic Benefit Costs and Other Amounts Recognized in Other Comprehensive Income (Loss)	The components of net periodic benefit cost and changes recognized in “Other comprehensive income (loss)” (“OCI”) are as follows: (Amounts in millions) 2019 2018 2017 Net periodic benefit cost: Service cost $ 23.5 $ 25.1 $ 22.7 Interest cost 56.4 52.8 56.1 Expected return on plan assets (91.5) (88.6) (83.4) Amortization of unrecognized loss 25.2 32.7 27.9 Amortization of prior service credit (0.9) (1.2) (1.1) Settlement loss — — 0.1 Net periodic benefit cost $ 12.7 $ 20.8 $ 22.3 Changes in benefit obligations recognized in OCI, net of tax: Net (gain) loss $ 31.9 $ 35.2 $ (30.3) Prior service cost 0.4 1.7 0.7 Total recognized in OCI $ 32.3 $ 36.9 $ (29.6) The components of net periodic benefit cost and changes recognized in OCI are as follows: (Amounts in millions) 2019 2018 2017 Net periodic benefit cost: Interest cost $ 1.9 $ 1.8 $ 2.1 Expected return on plan assets (0.7) (0.8) (0.8) Amortization of unrecognized gain (0.8) (0.4) (0.3) Net periodic benefit cost $ 0.4 $ 0.6 $ 1.0 Changes in benefit obligations recognized in OCI, net of tax: Net (gain) loss $ 2.4 $ (1.4) $ 0.6
Summary of Weighted-Average Assumptions Used to Determine Full-Year Pension Costs	The worldwide weighted-average assumptions used to determine Snap-on’s full-year pension costs are as follows: 2019 2018 2017 Discount rate 4.2% 3.7% 4.2% Expected return on plan assets 7.1% 7.1% 7.2% Rate of compensation increase 3.4% 3.4% 3.4% The worldwide weighted-average assumptions used to determine Snap-on’s projected benefit obligation as of 2019 and 2018 year end are as follows: 2019 2018 Discount rate 3.2% 4.4% Rate of compensation increase 3.4% 3.4% Interest crediting rate - U.S. cash balance plan 3.8% 3.8% The weighted-average discount rate used to determine Snap-on’s postretirement health care expense is as follows: 2019 2018 2017 Discount rate 4.2% 3.6% 4.1% The weighted-average discount rate used to determine Snap-on’s accumulated benefit obligation is as follows: 2019 2018 Discount rate 3.1% 4.2%
Summary of Expected Benefit Payments	The following benefit payments, which reflect expected future service, are expected to be paid as follows: (Amounts in millions) Amount Year: 2020 $ 81.7 2021 84.3 2022 95.1 2023 91.3 2024 94.6 2025-2029 498.9 (Amounts in millions) Amount Year: 2020 $ 3.7 2021 3.8 2022 3.8 2023 3.9 2024 4.0 2025-2029 20.3
Schedule of Allocation of Plan Assets	Snap-on’s domestic pension plans’ target allocation and actual weighted-average asset allocation by asset category and fair value of plan assets as of 2019 and 2018 year end are as follows: Target 2019 2018 Asset category: Equity securities 51% 51% 49% Debt securities and cash and cash equivalents 37% 40% 40% Real estate and other real assets 2% 1% 1% Hedge funds 10% 8% 10% Total 100% 100% 100% Fair value of plan assets (Amounts in millions) $1,260.5 $1,049.0 The following is a summary, by asset category, of the fair value and the level within the fair value hierarchy of Snap-on’s domestic pension plans’ assets as of 2019 year end: (Amounts in millions) Quoted Significant Investments Total Asset category: Cash and cash equivalents $ 25.6 $ — $ — $ 25.6 Equity securities: Domestic 95.1 — — 95.1 Foreign 58.4 — — 58.4 Commingled funds – domestic — — 263.6 263.6 Commingled funds – foreign — — 209.4 209.4 Private equity partnerships — — 17.4 17.4 Debt securities: Government 144.0 2.7 — 146.7 Corporate bonds — 327.7 — 327.7 Real estate and other real assets — — 8.8 8.8 Hedge funds — — 107.8 107.8 Total $ 323.1 $ 330.4 $ 607.0 $ 1,260.5 The following is a summary, by asset category, of the fair value and the level within the fair value hierarchy of Snap-on’s domestic pension plans’ assets as of 2018 year end: (Amounts in millions) Quoted Significant Investments Total Asset category: Cash and cash equivalents $ 17.8 $ — $ — $ 17.8 Equity securities: Domestic 70.5 — — 70.5 Foreign 87.5 — — 87.5 Commingled funds – domestic — — 200.6 200.6 Commingled funds – foreign — — 128.4 128.4 Private equity partnerships — — 22.7 22.7 Debt securities: Government 131.2 2.6 — 133.8 Corporate bonds — 271.3 — 271.3 Real estate and other real assets — — 11.9 11.9 Hedge funds — — 104.5 104.5 Total $ 307.0 $ 273.9 $ 468.1 $ 1,049.0 Snap-on’s foreign pension plans’ target allocation and actual weighted-average asset allocation by asset category and fair value of plan assets as of 2019 and 2018 year end are as follows: Target 2019 2018 Asset category: Equity securities* 46% 46% 35% Debt securities* and cash and cash equivalents 40% 40% 42% Insurance contracts and hedge funds 14% 14% 23% Total 100% 100% 100% Fair value of plan assets (Amounts in millions) $195.0 $166.6 * Includes commingled funds - multi-strategy The following is a summary, by asset category, of the fair value and the level within the fair value hierarchy of Snap-on’s foreign pension plans’ assets as of 2019 year end: (Amounts in millions) Quoted Significant Investments Total Asset category: Cash and cash equivalents $ 0.9 $ — $ — $ 0.9 Commingled funds – multi-strategy — — 135.5 135.5 Debt securities: Government 10.1 — — 10.1 Corporate bonds — 21.4 — 21.4 Insurance contracts — 27.1 — 27.1 Total $ 11.0 $ 48.5 $ 135.5 $ 195.0 The following is a summary, by asset category, of the fair value and the level within the fair value hierarchy of Snap-on’s foreign pension plans’ assets as of 2018 year end: (Amounts in millions) Quoted Significant Investments Total Asset category: Cash and cash equivalents $ 1.2 $ — $ — $ 1.2 Commingled funds – multi-strategy — — 101.5 101.5 Debt securities: Government 8.3 — — 8.3 Corporate bonds — 17.5 — 17.5 Insurance contracts — 23.8 — 23.8 Hedge fund — — 14.3 14.3 Total $ 9.5 $ 41.3 $ 115.8 $ 166.6 Snap-on’s VEBA plan target allocation and actual weighted-average asset allocation by asset category and fair value of plan assets as of 2019 and 2018 year end are as follows: Target 2019 2018 Asset category: Debt securities and cash and cash equivalents 46% 51% 56% Equity securities 29% 31% 26% Hedge funds 25% 18% 18% Total 100% 100% 100% Fair value of plan assets (Amounts in millions) $12.8 $12.1 The following is a summary, by asset category, of the fair value and the level within the fair value hierarchy of the VEBA plan assets as of 2019 year end: (Amounts in millions) Quoted Investments Measured at Total Asset category: Cash and cash equivalents $ 0.5 $ — $ 0.5 Debt securities 6.0 — 6.0 Equity securities — 4.0 4.0 Hedge fund — 2.3 2.3 Total $ 6.5 $ 6.3 $ 12.8 The following is a summary, by asset category, of the fair value and the level within the fair value hierarchy of the VEBA plan assets as of 2018 year end: (Amounts in millions) Quoted Investments Measured at Total Asset category: Cash and cash equivalents $ 1.3 $ — $ 1.3 Debt securities 5.5 — 5.5 Equity securities — 3.1 3.1 Hedge fund — 2.2 2.2 Total $ 6.8 $ 5.3 $ 12.1

Stock-based Compensation and _2

Stock-based Compensation and Other Stock Plans (Tables)	12 Months Ended
Stock-based Compensation and Other Stock Plans (Tables)	Dec. 28, 2019
Share-based Payment Arrangement [Abstract]
Summary of Weighted-Average Assumptions of Fair Value Granted Using Black-Scholes Valuation Model, Stock Options	The following weighted-average assumptions were used in calculating the fair value of stock options granted during 2019, 2018 and 2017, using the Black-Scholes valuation model: 2019 2018 2017 Expected term of option (in years) 5.53 5.35 5.15 Expected volatility factor 21.30% 20.08% 22.01% Expected dividend yield 1.79% 1.68% 1.63% Risk-free interest rate 2.54% 2.71% 1.78%
Summary of Stock Option Activity	A summary of stock option activity during 2019 is presented below: Shares (in thousands) Exercise Remaining Contractual Term* (in years) Aggregate Intrinsic Value (in millions) Outstanding at beginning of year 3,130 $ 127.57 Granted 462 155.93 Exercised (422) 94.95 Forfeited or expired (56) 161.10 Outstanding at end of year 3,114 135.60 6.1 $ 104.6 Exercisable at end of year 2,173 125.00 5.0 96.0 * Weighted-average
Summary of Changes in Non-Vested Performance Awards	Changes to the company’s non-vested performance awards in 2019 are as follows: Shares (in thousands) Fair Value Non-vested performance awards at beginning of year 120 $ 164.00 Granted 84 155.92 Vested (35) 168.47 Cancellations and other (71) 159.21 Non-vested performance awards at end of year 98 158.94 * Weighted-average
Summary of Weighted-Average Assumptions of Fair Value Granted Using Black-Scholes Valuation Model, SAR's	The following weighted-average assumptions were used in calculating the fair value of stock-settled SARs granted during 2019, 2018 and 2017, using the Black-Scholes valuation model: 2019 2018 2017 Expected term of stock-settled SARs (in years) 3.65 3.58 3.99 Expected volatility factor 22.60% 20.08% 19.39% Expected dividend yield 1.81% 1.63% 1.46% Risk-free interest rate 2.48% 2.40% 1.55% The following weighted-average assumptions were used in calculating the fair value of cash-settled SARs granted during 2019, 2018 and 2017, using the Black-Scholes valuation model: 2019 2018 2017 Expected term of cash-settled SARs (in years) 2.87 2.76 3.09 Expected volatility factor 23.33% 21.96% 19.93% Expected dividend yield 2.02% 1.75% 1.59% Risk-free interest rate 1.60% 2.50% 1.98%
Summary of Changes in SARs	Changes to the company’s stock-settled SARs in 2019 are as follows: Stock-settled SARs (in thousands) Exercise Remaining Contractual Term* (in years) Aggregate Intrinsic Value (in millions) Outstanding at beginning of year 372 $ 147.41 Granted 92 155.95 Exercised (2) 119.43 Forfeited or expired (12) 150.54 Outstanding at end of year 450 149.18 6.9 $ 9.0 Exercisable at end of year 270 142.09 5.9 7.3 * Weighted-average Changes to the company’s non-vested cash-settled SARs in 2019 are as follows: Cash-settled SARs (in thousands) Fair Value Non-vested cash-settled SARs at beginning of year 3 $ 14.89 Granted 1 29.94 Vested (2) 28.68 Non-vested cash-settled SARs at end of year 2 25.96 * Weighted-average

Commitments and Contingencies (

Commitments and Contingencies (Tables)	12 Months Ended
Commitments and Contingencies (Tables)	Dec. 28, 2019
Commitments and Contingencies Disclosure [Abstract]
Summary of Product Warranty Accrual Activity	Snap-on’s product warranty accrual activity for 2019, 2018 and 2017 is as follows: (Amounts in millions) 2019 2018 2017 Warranty accrual: Beginning of year $ 17.1 $ 17.2 $ 16.0 Additions 16.0 14.9 15.2 Usage (15.8) (15.0) (14.0) End of year $ 17.3 $ 17.1 $ 17.2

Leases (Tables)

Leases (Tables)	12 Months Ended
Leases (Tables)	Dec. 28, 2019
Leases [Abstract]
Summary of Effects of New Accounting Pronouncement	The adoption of Topic 842 impacted the company’s previously reported results as follows: (Amounts in millions) Classification Balance at Topic 842 Opening Balance at Assets Finance lease assets Property and equipment - net $ 7.8 $ — $ 7.8 Operating lease assets Operating lease right-of-use assets — 60.5 60.5 Liabilities Current: Finance lease liabilities Other accrued liabilities $ 1.2 $ — $ 1.2 Operating lease liabilities Other accrued liabilities — 20.2 20.2 Non-current: Finance lease liabilities Other long-term liabilities $ 6.6 $ — $ 6.6 Operating lease liabilities Operating lease liabilities — 40.4 40.4
Schedule of Lease Cost	Total lease costs for 2019 consist of the following: (Amounts in millions) 2019 Finance lease costs: Amortization of ROU assets $ 1.5 Interest on lease liabilities 0.5 Operating lease costs* 25.1 Total lease costs $ 27.1 * Includes short-term leases, variable lease costs and sublease income, which are immaterial. Supplemental cash flow information related to leases in 2019 is as follows: (Amounts in millions) 2019 Cash paid for amounts included in the measurement of lease liabilities: Financing cash flows from finance leases $ 2.8 Operating cash flows from finance leases 0.5 Operating cash flows from operating leases 23.5 ROU assets obtained in exchange for new lease obligations: Finance lease liabilities $ 1.4 Operating lease liabilities 12.5
Schedule of Lease Supplemental Balance Sheet Information and Weighted-Average Lease Terms and Discount Rates	Supplemental balance sheet information related to leases in 2019 is as follows: (Amounts in millions) 2019 Finance leases: Property and equipment - gross $ 9.2 Accumulated depreciation and amortization (1.5) Property and equipment - net $ 7.7 Other accrued liabilities $ 2.8 Other long-term liabilities 10.0 Total finance lease liabilities $ 12.8 Operating leases: Operating lease right-of-use assets $ 55.6 Other accrued liabilities $ 19.5 Operating lease liabilities 37.5 Total operating lease liabilities $ 57.0 Weighted-average lease terms and discount rates in 2019 are as follows: 2019 Weighted-average remaining lease terms: Finance leases 4.5 years Operating leases 3.7 years Weighted-average discount rates: Finance leases 3.4% Operating leases 2.8%
Schedule of Operating Lease Liability Maturities (Topic 842)	Maturities of lease liabilities as of December 28, 2019 are as follows: (Amounts in millions) Operating Leases Finance Leases Year: 2020 $ 20.6 $ 3.2 2021 15.6 3.0 2022 10.8 2.8 2023 6.2 2.6 2024 4.1 2.0 2025 and thereafter 2.7 0.2 Total lease payments 60.0 13.8 Less: amount representing interest (3.0) (1.0) Total lease liabilities $ 57.0 $ 12.8
Schedule of Finance Lease Liability Maturities (Topic 842)	Maturities of lease liabilities as of December 28, 2019 are as follows: (Amounts in millions) Operating Leases Finance Leases Year: 2020 $ 20.6 $ 3.2 2021 15.6 3.0 2022 10.8 2.8 2023 6.2 2.6 2024 4.1 2.0 2025 and thereafter 2.7 0.2 Total lease payments 60.0 13.8 Less: amount representing interest (3.0) (1.0) Total lease liabilities $ 57.0 $ 12.8
Schedule of Future Minimum Rental Payments for Operating Leases (Topic 840)	Snap-on’s future minimum lease commitments, net of sub-lease rental income, as of December 29, 2018, under Accounting Standard Codification Topic 840, the predecessor to Topic 842, are as follows: (Amounts in millions) Operating Capital Year: 2019 $ 25.6 $ 3.3 2020 18.4 3.2 2021 13.9 2.9 2022 9.8 2.5 2023 4.9 2.2 2024 and thereafter 4.4 1.9 Total minimum lease payments $ 77.0 16.0 Less: amount representing interest (0.9) Total present value of minimum capital lease payments $ 15.1
Schedule of Future Minimum Lease Payments for Capital Leases (Topic 840)	Snap-on’s future minimum lease commitments, net of sub-lease rental income, as of December 29, 2018, under Accounting Standard Codification Topic 840, the predecessor to Topic 842, are as follows: (Amounts in millions) Operating Capital Year: 2019 $ 25.6 $ 3.3 2020 18.4 3.2 2021 13.9 2.9 2022 9.8 2.5 2023 4.9 2.2 2024 and thereafter 4.4 1.9 Total minimum lease payments $ 77.0 16.0 Less: amount representing interest (0.9) Total present value of minimum capital lease payments $ 15.1
Schedule Of Minimum Capital Lease Payments Present Value	mounts included in the accompanying Consolidated Balance Sheets for the present value of minimum capital lease payments as of 2018 year end are as follows: (Amounts in millions) 2018 Other accrued liabilities $ 3.0 Other long-term liabilities 12.1 Total present value of minimum capital lease payments $ 15.1
Schedule of Sales-type Lease Receivables Maturities	Future minimum lease payments as of December 28, 2019 are as follows: (Amounts in millions) Lease Receivables Year: 2020 $ 119.1 2021 90.7 2022 64.3 2023 44.4 2024 28.4 2025 and thereafter 18.3 Total lease payments 365.2 Less: unearned finance charges (67.5) Net investment in leases $ 297.7

Other Income (Expense) - Net (T

Other Income (Expense) - Net (Tables)	12 Months Ended
Other Income (Expense) - Net (Tables)	Dec. 28, 2019
Other Income and Expenses [Abstract]
Computation of Other Income (Expense) - Net	“Other income (expense) – net” on the accompanying Consolidated Statements of Earnings consists of the following: (Amounts in millions) 2019 2018 2017 Interest income $ 1.5 $ 0.6 $ 0.3 Net foreign exchange loss (3.6) (3.9) (7.0) Net periodic pension and postretirement benefits (costs) - non-service 10.4 3.7 (0.6) Settlement of treasury lock — 13.3 — Loss on early extinguishment of debt — (7.8) — Other 0.5 (1.7) (0.5) Total other income (expense) – net $ 8.8 $ 4.2 $ (7.8)

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Income (Loss) (Tables)	12 Months Ended
Accumulated Other Comprehensive Income (Loss) (Tables)	Dec. 28, 2019
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 2019 and 2018: (Amounts in millions) Foreign Cash Flow Hedges Defined Total Balance as of 2017 year end $ (82.5) $ 14.5 $ (261.0) $ (329.0) Other comprehensive loss before reclassifications (95.4) (0.8) (59.0) (155.2) Amounts reclassified from Accumulated OCI — (1.5) 23.5 22.0 Net other comprehensive loss (95.4) (2.3) (35.5) (133.2) Balance as of 2018 year end $ (177.9) $ 12.2 $ (296.5) $ (462.2) Impact of the Tax Act on Accumulated Other Comprehensive Income (ASU No. 2018-02) — — (45.9) (45.9) Balance at beginning of 2019 (177.9) 12.2 (342.4) (508.1) Other comprehensive loss before reclassifications (9.5) — (6.5) (16.0) Amounts reclassified from Accumulated OCI — (1.5) 17.7 16.2 Net other comprehensive income (loss) (9.5) (1.5) 11.2 0.2 Balance as of 2019 year end $ (187.4) $ 10.7 $ (331.2) $ (507.9)
Reclassifications Out of Accumulated OCI	The reclassifications out of Accumulated OCI in 2019 and 2018 are as follows: Amounts Reclassified from Statement of Earnings (Amounts in millions) 2019 2018 Gains on cash flow hedges: Treasury locks $ 1.5 $ 1.5 Interest expense Income tax expense — — Income tax expense Net of tax 1.5 1.5 Amortization of net unrecognized losses and prior service credits (23.5) (31.1) See footnote below* Income tax benefit 5.8 7.6 Income tax expense Net of tax (17.7) (23.5) Total reclassifications for the period, net of tax $ (16.2) $ (22.0) * These Accumulated OCI components are included in the computation of net periodic pension and postretirement health care costs; see Note 11 and Note 12 for further information.

Segments (Tables)

Segments (Tables)	12 Months Ended
Segments (Tables)	Dec. 28, 2019
Segment Reporting [Abstract]
Net Sales by Segment	(Amounts in millions) 2019 2018 2017 Net sales: Commercial & Industrial Group $ 1,345.7 $ 1,343.3 $ 1,265.0 Snap-on Tools Group 1,612.9 1,613.8 1,625.1 Repair Systems & Information Group 1,334.5 1,334.4 1,347.2 Segment net sales 4,293.1 4,291.5 4,237.3 Intersegment eliminations (563.1) (550.8) (550.4) Total net sales 3,730.0 3,740.7 3,686.9 Financial Services revenue 337.7 329.7 313.4 Total revenues $ 4,067.7 $ 4,070.4 $ 4,000.3 Operating earnings: Commercial & Industrial Group $ 188.7 $ 199.3 $ 186.5 Snap-on Tools Group 245.8 264.2 274.7 Repair Systems & Information Group 342.7 342.6 335.3 Financial Services 245.9 230.1 217.5 Segment operating earnings 1,023.1 1,036.2 1,014.0 Corporate (60.8) (80.1) (131.9) Operating earnings 962.3 956.1 882.1 Interest expense (49.0) (50.4) (52.4) Other income (expense) – net 8.8 4.2 (7.8) Earnings before income taxes and equity earnings $ 922.1 $ 909.9 $ 821.9
Assets by Segment	(Amounts in millions) 2019 2018 Assets: Commercial & Industrial Group $ 1,138.8 $ 1,087.9 Snap-on Tools Group 827.4 752.7 Repair Systems & Information Group 1,381.9 1,306.3 Financial Services 2,104.0 2,039.6 Total assets from reportable segments 5,452.1 5,186.5 Corporate 303.1 249.2 Elimination of intersegment receivables (61.7) (62.6) Total assets $ 5,693.5 $ 5,373.1
Capital Expenditures, Depreciation and Amortization	(Amounts in millions) 2019 2018 2017 Capital expenditures: Commercial & Industrial Group $ 30.1 $ 21.5 $ 22.6 Snap-on Tools Group 42.7 46.0 40.1 Repair Systems & Information Group 22.7 19.7 13.4 Financial Services 0.8 0.5 1.2 Total from reportable segments 96.3 87.7 77.3 Corporate 3.1 3.2 4.7 Total capital expenditures $ 99.4 $ 90.9 $ 82.0 Depreciation and amortization: Commercial & Industrial Group $ 23.5 $ 23.6 $ 22.8 Snap-on Tools Group 31.7 29.9 29.1 Repair Systems & Information Group 33.0 36.7 37.8 Financial Services 0.7 0.8 0.6 Total from reportable segments 88.9 91.0 90.3 Corporate 3.5 3.1 2.9 Total depreciation and amortization $ 92.4 $ 94.1 $ 93.2
Revenue and Long-Lived Assets, Geographic Regions	Revenues by geographic region:* United States $ 2,794.0 $ 2,727.9 $ 2,703.3 Europe 730.3 784.7 748.8 All other 543.4 557.8 548.2 Total revenues $ 4,067.7 $ 4,070.4 $ 4,000.3 (Amounts in millions) 2019 2018 Long-lived assets:** United States $ 1,112.3 $ 1,091.2 Sweden 218.7 227.4 All other 348.2 311.6 Total long-lived assets $ 1,679.2 $ 1,630.2 * Revenues are attributed to countries based on origin of the sale. ** Long-lived assets consist of Property and equipment - net, Goodwill, and Other intangibles - net.
Products and Services	The following table shows the consolidated net sales and revenues of these product groups in the last three years: (Amounts in millions) 2019 2018 2017 Net sales: Tools $ 2,017.5 $ 2,021.2 $ 1,946.7 Diagnostics, information and management systems 827.5 797.9 800.4 Equipment 885.0 921.6 939.8 Total net sales 3,730.0 3,740.7 3,686.9 Financial services revenue 337.7 329.7 313.4 Total revenues $ 4,067.7 $ 4,070.4 $ 4,000.3

Quarterly Data (unaudited) (Tab

Quarterly Data (unaudited) (Tables)	12 Months Ended
Quarterly Data (unaudited) (Tables)	Dec. 28, 2019
Quarterly Financial Information Disclosure [Abstract]
Schedule of Quarterly Financial Information	(Amounts in millions, except per share data) First Second Third Quarter Fourth Total 2019 Net sales $ 921.7 $ 951.3 $ 901.8 $ 955.2 $ 3,730.0 Gross profit 471.6 473.8 448.1 450.5 1,844.0 Financial services revenue 85.6 84.1 84.1 83.9 337.7 Financial services expenses (23.5) (23.5) (23.1) (21.7) (91.8) Net earnings 182.1 184.9 169.2 175.0 711.2 Net earnings attributable to Snap-on Incorporated 177.9 180.4 164.6 170.6 693.5 Earnings per share – basic 3.21 3.27 2.99 3.12 12.59 Earnings per share – diluted 3.16 3.22 2.96 3.08 12.41 Cash dividends paid per share 0.95 0.95 0.95 1.08 3.93 First Second Third Quarter Fourth Total 2018 Net sales $ 935.5 $ 954.6 $ 898.1 $ 952.5 $ 3,740.7 Gross profit 471.6 487.1 453.9 457.4 1,870.0 Financial services revenue 83.0 82.0 82.0 82.7 329.7 Financial services expenses (26.1) (24.2) (22.7) (26.6) (99.6) Net earnings 166.8 182.7 167.4 179.3 696.2 Net earnings attributable to Snap-on Incorporated 163.0 178.7 163.2 175.0 679.9 Earnings per share – basic 2.87 3.17 2.90 3.14 12.08 Earnings per share – diluted 2.82 3.12 2.85 3.09 11.87 Cash dividends paid per share 0.82 0.82 0.82 0.95 3.41

Summary of Accounting Policie_3

Summary of Accounting Policies - Narrative (Detail) - USD ($)	Dec. 30, 2018	Dec. 28, 2019	Dec. 29, 2018	Dec. 30, 2017
Summary Of Accounting Policies [Line Items]
Research and engineering costs		$ 59,100,000	$ 61,200,000	$ 60,900,000
Capitalized software development costs		12,600,000	9,700,000	11,300,000
Amortization of capitalized software development costs		10,100,000	13,400,000	14,700,000
Unamortized capitalized software development costs		42,600,000	40,200,000
Shipping and handling charges related to manufacturing activities		56,500,000	53,700,000	49,700,000
Advertising and promotion expenses		47,700,000	55,600,000	55,700,000
Foreign exchange loss		$ 3,600,000	$ 3,900,000	$ 7,000,000
Number of anti-dilutive awards outstanding (in shares)		1,215,695	685,533	722,715
Dilutive shares (in shares)		748,395	986,984	1,207,285
Cash and cash equivalents		$ 0	$ 0
Days, past due, customer bankruptcies charged-off for finance and contract receivables		180 days
Impact of the Tax Act on Accumulated Other Comprehensive Income (ASU No. 2018-02)	$ 45,900,000
Unconsolidated Affiliates
Summary Of Accounting Policies [Line Items]
Investments in unconsolidated affiliates		$ 18,800,000	18,500,000
Purchases from unconsolidated affiliates		10,400,000	11,200,000	$ 11,600,000
Sales to unconsolidated affiliates		$ 600,000	800,000	500,000
Finance Receivables
Summary Of Accounting Policies [Line Items]
Days past due, finance receivables assessed for charge-off		120 days
Days past due, receivables charged-off		60 days
Contract Receivables Related To Equipment Leases
Summary Of Accounting Policies [Line Items]
Days past due, receivables charged-off		150 days
Contract Receivables Related To Franchise Finance
Summary Of Accounting Policies [Line Items]
Days past due, receivables charged-off		180 days
Shipping and Handling
Summary Of Accounting Policies [Line Items]
Shipping and handling charges		$ 88,700,000	$ 84,300,000	$ 82,300,000

Summary of Accounting Policie_4

Summary of Accounting Policies - Other Accrued Liabilities (Detail) - USD ($) $ in Millions	Dec. 28, 2019	Dec. 30, 2018	Dec. 29, 2018
Accounting Policies [Abstract]
Income taxes	$ 23.9		$ 34.4
Accrued warranty	17.3		17.1
Operating lease liability	19.5	$ 20.2
Deferred subscription revenue	55.1		47.3
Accrued new tool return	50.9		43.7
Accrued property, payroll and other taxes	38.6		40.1
Accrued selling and promotion expense	28.3		28.7
Accrued legal charges	0		30.9
Other	137.2		131.4
Total other accrued liabilities	$ 370.8		$ 373.6

Summary of Accounting Policie_5

Summary of Accounting Policies - New Accounting Standards (Details) - USD ($) $ in Millions	Dec. 29, 2019	Dec. 28, 2019	Dec. 29, 2018
Summary Of Accounting Policies [Line Items]
Retained earnings		$ 4,779.7	$ 4,257.6
Scenario, Forecast \| Accounting Standards Update 2016-13 [Member]
Summary Of Accounting Policies [Line Items]
Finance, contract, and trade receivables, allowance for credit loss	$ 8
Retained earnings	$ (8)

Revenue Recognition - Revenue D

Revenue Recognition - Revenue Disaggregation (Details) - USD ($) $ in Millions	3 Months Ended								12 Months Ended
	Dec. 28, 2019	Sep. 28, 2019	Jun. 29, 2019	Mar. 30, 2019	Dec. 29, 2018	Sep. 29, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 28, 2019	Dec. 29, 2018	Dec. 30, 2017
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers									$ 3,708.3	$ 3,719.6
Net sales									4,067.7	4,070.4	$ 4,000.3
Europe
Disaggregation of Revenue [Line Items]
Net sales									730.3	784.7	748.8
Commercial & Industrial Group
Disaggregation of Revenue [Line Items]
Net sales									1,345.7	1,343.3
Snap-on Tools Group
Disaggregation of Revenue [Line Items]
Net sales									1,612.9	1,613.8
Repair Systems & Information Group
Disaggregation of Revenue [Line Items]
Net sales									1,334.5	1,334.4
Financial Services
Disaggregation of Revenue [Line Items]
Net sales									337.7	329.7
Intersegment eliminations
Disaggregation of Revenue [Line Items]
Net sales									(563.1)	(550.8)
Product and Service, Other
Disaggregation of Revenue [Line Items]
Revenue not from contract with customer									21.7	21.1
Product And Services, Excluding Financial Services
Disaggregation of Revenue [Line Items]
Net sales	$ 955.2	$ 901.8	$ 951.3	$ 921.7	$ 952.5	$ 898.1	$ 954.6	$ 935.5	3,730	3,740.7	3,686.9
Product And Services, Excluding Financial Services \| Vehicle service professionals
Disaggregation of Revenue [Line Items]
Net sales									2,777.3	2,780.2
Product And Services, Excluding Financial Services \| All other professionals
Disaggregation of Revenue [Line Items]
Net sales									952.7	960.5
Product And Services, Excluding Financial Services \| North America
Disaggregation of Revenue [Line Items]
Net sales									2,654.6	2,592.3
Product And Services, Excluding Financial Services \| Europe
Disaggregation of Revenue [Line Items]
Net sales									664.9	718.4
Product And Services, Excluding Financial Services \| All other
Disaggregation of Revenue [Line Items]
Net sales									410.5	430
Product And Services, Excluding Financial Services \| Commercial & Industrial Group
Disaggregation of Revenue [Line Items]
Net sales									1,038.2	1,051.6
Product And Services, Excluding Financial Services \| Commercial & Industrial Group \| Vehicle service professionals
Disaggregation of Revenue [Line Items]
Net sales									85.5	91.1
Product And Services, Excluding Financial Services \| Commercial & Industrial Group \| All other professionals
Disaggregation of Revenue [Line Items]
Net sales									952.7	960.5
Product And Services, Excluding Financial Services \| Commercial & Industrial Group \| North America
Disaggregation of Revenue [Line Items]
Net sales									482.1	466.5
Product And Services, Excluding Financial Services \| Commercial & Industrial Group \| Europe
Disaggregation of Revenue [Line Items]
Net sales									291.7	311.9
Product And Services, Excluding Financial Services \| Commercial & Industrial Group \| All other
Disaggregation of Revenue [Line Items]
Net sales									264.4	273.2
Product And Services, Excluding Financial Services \| Snap-on Tools Group
Disaggregation of Revenue [Line Items]
Net sales									1,612.9	1,613.8
Product And Services, Excluding Financial Services \| Snap-on Tools Group \| Vehicle service professionals
Disaggregation of Revenue [Line Items]
Net sales									1,612.9	1,613.8
Product And Services, Excluding Financial Services \| Snap-on Tools Group \| All other professionals
Disaggregation of Revenue [Line Items]
Net sales									0	0
Product And Services, Excluding Financial Services \| Snap-on Tools Group \| North America
Disaggregation of Revenue [Line Items]
Net sales									1,406.1	1,378.7
Product And Services, Excluding Financial Services \| Snap-on Tools Group \| Europe
Disaggregation of Revenue [Line Items]
Net sales									131.9	151.3
Product And Services, Excluding Financial Services \| Snap-on Tools Group \| All other
Disaggregation of Revenue [Line Items]
Net sales									74.9	83.8
Product And Services, Excluding Financial Services \| Repair Systems & Information Group
Disaggregation of Revenue [Line Items]
Net sales									1,078.9	1,075.3
Product And Services, Excluding Financial Services \| Repair Systems & Information Group \| Vehicle service professionals
Disaggregation of Revenue [Line Items]
Net sales									1,078.9	1,075.3
Product And Services, Excluding Financial Services \| Repair Systems & Information Group \| All other professionals
Disaggregation of Revenue [Line Items]
Net sales									0	0
Product And Services, Excluding Financial Services \| Repair Systems & Information Group \| North America
Disaggregation of Revenue [Line Items]
Net sales									766.4	747.1
Product And Services, Excluding Financial Services \| Repair Systems & Information Group \| Europe
Disaggregation of Revenue [Line Items]
Net sales									241.3	255.2
Product And Services, Excluding Financial Services \| Repair Systems & Information Group \| All other
Disaggregation of Revenue [Line Items]
Net sales									71.2	73
Product And Services, Excluding Financial Services \| Financial Services
Disaggregation of Revenue [Line Items]
Net sales									0	0
Product And Services, Excluding Financial Services \| Financial Services \| Vehicle service professionals
Disaggregation of Revenue [Line Items]
Net sales									0	0
Product And Services, Excluding Financial Services \| Financial Services \| All other professionals
Disaggregation of Revenue [Line Items]
Net sales									0	0
Product And Services, Excluding Financial Services \| Financial Services \| North America
Disaggregation of Revenue [Line Items]
Net sales									0	0
Product And Services, Excluding Financial Services \| Financial Services \| Europe
Disaggregation of Revenue [Line Items]
Net sales									0	0
Product And Services, Excluding Financial Services \| Financial Services \| All other
Disaggregation of Revenue [Line Items]
Net sales									0	0
Product And Services, Excluding Financial Services \| Intersegment eliminations
Disaggregation of Revenue [Line Items]
Net sales									(563.1)	(550.8)	(550.4)
Product And Services, Excluding Financial Services \| Intersegment eliminations \| Commercial & Industrial Group
Disaggregation of Revenue [Line Items]
Net sales									307.5	291.7
Product And Services, Excluding Financial Services \| Intersegment eliminations \| Snap-on Tools Group
Disaggregation of Revenue [Line Items]
Net sales									0	0
Product And Services, Excluding Financial Services \| Intersegment eliminations \| Repair Systems & Information Group
Disaggregation of Revenue [Line Items]
Net sales									255.6	259.1
Product And Services, Excluding Financial Services \| Intersegment eliminations \| Financial Services
Disaggregation of Revenue [Line Items]
Net sales									0	0
Product And Services, Excluding Financial Services \| Operating Segments
Disaggregation of Revenue [Line Items]
Net sales									4,293.1	4,291.5	4,237.3
Product And Services, Excluding Financial Services \| Operating Segments \| Commercial & Industrial Group
Disaggregation of Revenue [Line Items]
Net sales									1,345.7	1,343.3	1,265
Product And Services, Excluding Financial Services \| Operating Segments \| Snap-on Tools Group
Disaggregation of Revenue [Line Items]
Net sales									1,612.9	1,613.8	1,625.1
Product And Services, Excluding Financial Services \| Operating Segments \| Repair Systems & Information Group
Disaggregation of Revenue [Line Items]
Net sales									1,334.5	1,334.4	1,347.2
Product And Services, Excluding Financial Services \| Operating Segments \| Financial Services
Disaggregation of Revenue [Line Items]
Net sales									0	0
Financial Service
Disaggregation of Revenue [Line Items]
Revenue not from contract with customer									337.7	329.7
Net sales	$ 83.9	$ 84.1	$ 84.1	$ 85.6	$ 82.7	$ 82	$ 82	$ 83	337.7	329.7	$ 313.4
Financial Service \| Commercial & Industrial Group
Disaggregation of Revenue [Line Items]
Net sales									0	0
Financial Service \| Snap-on Tools Group
Disaggregation of Revenue [Line Items]
Net sales									0	0
Financial Service \| Repair Systems & Information Group
Disaggregation of Revenue [Line Items]
Net sales									0	0
Financial Service \| Financial Services
Disaggregation of Revenue [Line Items]
Net sales									$ 337.7	$ 329.7

Revenue Recognition - Narrative

Revenue Recognition - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 28, 2019	Dec. 29, 2018	Dec. 30, 2017
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Contract with customer, liability	$ 65.1	$ 63.8
Contract with customer, liability, revenue recognized	$ 46.2
Software Subscriptions, Extended Warranties and Other Subscription Agreements
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Revenue, performance obligation, description of timing	For performance obligations related to software subscriptions, extended warranties and other subscription agreements, Snap-on transfers control and recognizes revenue over time on a ratable basis using a time-based output method. The performance obligations are typically satisfied as services are rendered on a straight-line basis over the contract term, which is generally for 12 months but can be for a term up to 60 months.
Franchise Fee Revenue
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Revenue from contract with customer	$ 15.4	$ 16.2	$ 15.2
Ship-and-Bill Type Contracts
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Revenue, performance obligation, description of timing	For ship-and-bill type contracts with customers, the contract states the final terms of the sale, including the description, quantity, and price of each product or service purchased. Payment terms are typically due upon delivery or up to 30 days after delivery but can range up to 120 days after delivery.
Subscription Contracts
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Revenue, performance obligation, description of timing	For subscription contracts, payment terms are in advance or in arrears of services on a monthly, quarterly or annual basis over the contract term, which is generally for 12 months but can be for a term up to 60 months depending on the product or service.
Transferred at Point in Time \| Sales Revenue Net \| Product Concentration Risk
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Concentration risk, percentage	90.00%

Revenue Recognition - Remaining

Revenue Recognition - Remaining Performance Obligation Percentage (Details) $ in Millions	Dec. 28, 2019USD ($)
Revenue from Contract with Customer [Abstract]
Contractual obligation	$ 235
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2019-12-29
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation, percentage of revenue recognized	70.00%
Revenue, remaining performance obligation, expected timing of satisfaction, period	2 years
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-01-02
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation, percentage of revenue recognized	25.00%
Revenue, remaining performance obligation, expected timing of satisfaction, period	2 years

Acquisitions - Narrative (Detai

Acquisitions - Narrative (Detail) - USD ($) $ in Millions	Aug. 07, 2019	Apr. 02, 2019	Jan. 25, 2019	Jan. 31, 2018	Jul. 28, 2017	May 04, 2017	Jan. 30, 2017	Dec. 28, 2019	Dec. 29, 2018	Dec. 30, 2017
Business Acquisition [Line Items]
Goodwill								$ 913.8	$ 902.2	$ 924.1
Cash purchase price of acquisition, net of cash acquired								38.6	3	82.9
Cognitran Limited
Business Acquisition [Line Items]
Cash purchase price of acquisition	$ 30.4
Goodwill								11.4
Cash purchase price of acquisition, net of cash acquired	$ 29.4
Power Hawk Technologies Inc
Business Acquisition [Line Items]
Cash purchase price of acquisition		$ 7.9
Goodwill								6.4
TMB GeoMarketing Limited
Business Acquisition [Line Items]
Cash purchase price of acquisition			$ 1.3
Goodwill								$ 1.3
George A. Sturdevant, Inc. (d/b/a Fastorq)
Business Acquisition [Line Items]
Cash purchase price of acquisition				$ 3
Goodwill									2.6
Torque Control Specialists Pty Ltd
Business Acquisition [Line Items]
Cash purchase price of acquisition					$ 3.6
Goodwill									2
Cash purchase price of acquisition, net of cash acquired					$ 3.5
Norbar
Business Acquisition [Line Items]
Cash purchase price of acquisition						$ 71.6
Goodwill									$ 25.1
Cash purchase price of acquisition, net of cash acquired						$ 69.9
BTC
Business Acquisition [Line Items]
Cash purchase price of acquisition							$ 9.2
Goodwill										$ 5.9

Receivables - Narrative (Detail

Receivables - Narrative (Detail) - USD ($) $ in Millions	12 Months Ended
Receivables - Narrative (Detail) - USD ($) $ in Millions	Dec. 28, 2019	Dec. 29, 2018
Accounts, Notes, Loans and Financing Receivable [Line Items]
Minimum payment term for trade and other accounts receivable (in days)	30 days
Maximum payment term for trade and other accounts receivable (in days)	120 days
Average payment term for contract receivables (in years)	10 years
Average payment term for finance receivables (in years)	4 years
Minimum period past due to consider receivable balances as delinquent (in days)	30 days
Minimum period past due to consider non-accrual finance receivables nonperforming (in days)	90 days
Minimum period past due to declare receivable as non-accrual status (in days)	90 days
Finance Receivables
Accounts, Notes, Loans and Financing Receivable [Line Items]
Impaired financing receivable, recorded investment	$ 29.4	$ 27.9
Contract Receivables
Accounts, Notes, Loans and Financing Receivable [Line Items]
Impaired financing receivable, recorded investment	$ 2.7	$ 6

Receivables - Components of Tra

Receivables - Components of Trade and Other Accounts Receivable (Detail) - USD ($) $ in Millions	Dec. 28, 2019	Dec. 29, 2018
Receivables [Abstract]
Trade and other accounts receivable	$ 715.5	$ 710.1
Allowances for doubtful accounts	(20.9)	(17.5)
Total trade and other accounts receivable – net	$ 694.6	$ 692.6

Receivables - Components of Cur

Receivables - Components of Current Finance and Contract Receivables (Detail) - USD ($) $ in Millions	Dec. 28, 2019	Dec. 29, 2018
Financing Receivable, Allowance for Credit Loss [Line Items]
Finance and Contract receivable, before allowance for credit losses, current	$ 652	$ 637.6
Allowances for doubtful accounts:
Allowances for doubtful accounts, finance receivables	(21.2)	(20.8)
Total current finance and contract receivables – net	630.8	616.8
Finance Receivables
Financing Receivable, Allowance for Credit Loss [Line Items]
Finance and Contract receivable, before allowance for credit losses, current	549.8	538.1
Allowances for doubtful accounts:
Allowances for doubtful accounts, finance receivables	(19.7)	(19.6)
Total current finance and contract receivables – net	530.1	518.5
Finance Receivables \| Installment Receivables
Financing Receivable, Allowance for Credit Loss [Line Items]
Finance and Contract receivable, before allowance for credit losses, current	511.9	499
Allowances for doubtful accounts:
Allowances for doubtful accounts, finance receivables	(19.2)	(19)
Finance Receivables \| Finance and Contract Leases
Financing Receivable, Allowance for Credit Loss [Line Items]
Finance and Contract receivable, before allowance for credit losses, current	37.9	39.1
Unearned finance charges, current	11.7	11.4
Allowances for doubtful accounts:
Allowances for doubtful accounts, finance receivables	(0.5)	(0.6)
Contract Receivables
Financing Receivable, Allowance for Credit Loss [Line Items]
Finance and Contract receivable, before allowance for credit losses, current	102.2	99.5
Allowances for doubtful accounts:
Allowances for doubtful accounts, finance receivables	(1.5)	(1.2)
Total current finance and contract receivables – net	100.7	98.3
Contract Receivables \| Installment Receivables
Financing Receivable, Allowance for Credit Loss [Line Items]
Finance and Contract receivable, before allowance for credit losses, current	50.8	48.9
Allowances for doubtful accounts:
Allowances for doubtful accounts, finance receivables	(0.5)	(0.4)
Contract Receivables \| Finance and Contract Leases
Financing Receivable, Allowance for Credit Loss [Line Items]
Finance and Contract receivable, before allowance for credit losses, current	51.4	50.6
Unearned finance charges, current	18.2	18.4
Allowances for doubtful accounts:
Allowances for doubtful accounts, finance receivables	$ (1)	$ (0.8)

Receivables - Components of Fin

Receivables - Components of Finance and Contract Receivables Beyond One Year (Detail) - USD ($) $ in Millions	Dec. 28, 2019	Dec. 29, 2018
Financing Receivable, Allowance for Credit Loss [Line Items]
Finance and contract receivables, before allowance for credit losses, non-current	$ 1,509.9	$ 1,464.2
Allowances for doubtful accounts:
Allowance for finance and contract receivables, non-current	(46.3)	(44.9)
Total current finance and contract receivables – net	1,463.6	1,419.3
Finance Receivables
Financing Receivable, Allowance for Credit Loss [Line Items]
Finance and contract receivables, before allowance for credit losses, non-current	1,145.7	1,116.2
Allowances for doubtful accounts:
Allowance for finance and contract receivables, non-current	(42.2)	(41.8)
Total current finance and contract receivables – net	1,103.5	1,074.4
Finance Receivables \| Installment Receivables
Financing Receivable, Allowance for Credit Loss [Line Items]
Finance and contract receivables, before allowance for credit losses, non-current	1,106	1,080.1
Allowances for doubtful accounts:
Allowance for finance and contract receivables, non-current	(41.6)	(41.3)
Finance Receivables \| Finance and Contract Leases
Financing Receivable, Allowance for Credit Loss [Line Items]
Finance and contract receivables, before allowance for credit losses, non-current	39.7	36.1
Unearned finance charges, non-current	8.2	6.7
Allowances for doubtful accounts:
Allowance for finance and contract receivables, non-current	(0.6)	(0.5)
Contract Receivables
Financing Receivable, Allowance for Credit Loss [Line Items]
Finance and contract receivables, before allowance for credit losses, non-current	364.2	348
Allowances for doubtful accounts:
Allowance for finance and contract receivables, non-current	(4.1)	(3.1)
Total current finance and contract receivables – net	360.1	344.9
Contract Receivables \| Installment Receivables
Financing Receivable, Allowance for Credit Loss [Line Items]
Finance and contract receivables, before allowance for credit losses, non-current	195.5	190.6
Allowances for doubtful accounts:
Allowance for finance and contract receivables, non-current	(1.8)	(1.5)
Contract Receivables \| Finance and Contract Leases
Financing Receivable, Allowance for Credit Loss [Line Items]
Finance and contract receivables, before allowance for credit losses, non-current	168.7	157.4
Unearned finance charges, non-current	29.4	27.8
Allowances for doubtful accounts:
Allowance for finance and contract receivables, non-current	$ (2.3)	$ (1.6)

Receivables - Schedule of Long-

Receivables - Schedule of Long-Term Finance and Contract Receivables (Detail) - USD ($) $ in Millions	Dec. 28, 2019	Dec. 29, 2018
Accounts, Notes, Loans and Financing Receivable [Line Items]
Finance and contract receivables, before allowance for credit losses, non-current	$ 1,509.9	$ 1,464.2
Finance Receivables
Accounts, Notes, Loans and Financing Receivable [Line Items]
Finance an contract receivables, due in 13 - 24	439.1	428.7
Finance an contract receivables, due in 25 - 36	352.4	345
Finance an contract receivables, due in 37 - 48	238	232.8
Finance an contract receivables, due in 49 - 60	116.2	109.7
Finance an contract receivables, due thereafter	0	0
Finance and contract receivables, before allowance for credit losses, non-current	1,145.7	1,116.2
Contract Receivables
Accounts, Notes, Loans and Financing Receivable [Line Items]
Finance an contract receivables, due in 13 - 24	86.4	82.2
Finance an contract receivables, due in 25 - 36	76.9	72.5
Finance an contract receivables, due in 37 - 48	65.6	60.5
Finance an contract receivables, due in 49 - 60	51.3	48.8
Finance an contract receivables, due thereafter	84	84
Finance and contract receivables, before allowance for credit losses, non-current	$ 364.2	$ 348

Receivables - Aging of Finance

Receivables - Aging of Finance and Contract Receivables (Detail) - USD ($) $ in Millions	Dec. 28, 2019	Dec. 29, 2018
Finance Receivables
Financing Receivable, Past Due [Line Items]
Past due	$ 53.1	$ 51.8
Total Not Past Due	1,642.4	1,602.5
Total	1,695.5	1,654.3
Greater Than 90 Days Past Due and Accruing	17.2	15.9
Finance Receivables \| 30-59 Days Past Due
Financing Receivable, Past Due [Line Items]
Past due	19.7	19.4
Finance Receivables \| 60-90 Days Past Due
Financing Receivable, Past Due [Line Items]
Past due	12	12.1
Finance Receivables \| Greater Than 90 Days Past Due
Financing Receivable, Past Due [Line Items]
Past due	21.4	20.3
Contract Receivables
Financing Receivable, Past Due [Line Items]
Past due	3.9	8.1
Total Not Past Due	462.5	439.4
Total	466.4	447.5
Greater Than 90 Days Past Due and Accruing	0.5	0.2
Contract Receivables \| 30-59 Days Past Due
Financing Receivable, Past Due [Line Items]
Past due	1.5	1.7
Contract Receivables \| 60-90 Days Past Due
Financing Receivable, Past Due [Line Items]
Past due	0.9	1.2
Contract Receivables \| Greater Than 90 Days Past Due
Financing Receivable, Past Due [Line Items]
Past due	$ 1.5	$ 5.2

Receivables - Schedule of Perfo

Receivables - Schedule of Performing and Nonperforming Finance and Contract Receivables (Detail) - USD ($) $ in Millions	Dec. 28, 2019	Dec. 29, 2018
Finance Receivables
Financing Receivable, Recorded Investment [Line Items]
Finance and contract receivables	$ 1,695.5	$ 1,654.3
Contract Receivables
Financing Receivable, Recorded Investment [Line Items]
Finance and contract receivables	466.4	447.5
Performing \| Finance Receivables
Financing Receivable, Recorded Investment [Line Items]
Finance and contract receivables	1,666.1	1,626.4
Performing \| Contract Receivables
Financing Receivable, Recorded Investment [Line Items]
Finance and contract receivables	463.7	441.5
Nonperforming \| Finance Receivables
Financing Receivable, Recorded Investment [Line Items]
Finance and contract receivables	29.4	27.9
Nonperforming \| Contract Receivables
Financing Receivable, Recorded Investment [Line Items]
Finance and contract receivables	$ 2.7	$ 6

Receivables - Schedule of Finan

Receivables - Schedule of Finance and Contract Receivables on Nonaccrual Status (Detail) - USD ($) $ in Millions	Dec. 28, 2019	Dec. 29, 2018
Finance Receivables
Financing Receivable, Nonaccrual [Line Items]
Financing and contract receivable, nonaccrual status	$ 12.2	$ 12
Contract Receivables
Financing Receivable, Nonaccrual [Line Items]
Financing and contract receivable, nonaccrual status	$ 2.2	$ 5.8

Receivables - Rollforward of Al

Receivables - Rollforward of Allowances for Doubtful Accounts for Finance and Contract Receivables (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 28, 2019	Dec. 29, 2018
Finance Receivables
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Beginning of year	$ 61.4	$ 56.5
Provision	49.9	57.5
Charge-offs	(57.1)	(59.4)
Recoveries	7.7	7.1
Currency translation	0	(0.3)
End of year	61.9	61.4
Contract Receivables
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Beginning of year	4.3	4.6
Provision	4.7	2
Charge-offs	(3.9)	(2.5)
Recoveries	0.5	0.4
Currency translation	0	(0.2)
End of year	$ 5.6	$ 4.3

Receivables - Rollforward of Co

Receivables - Rollforward of Combined Allowances for Doubtful Accounts Related to Trade and Other Accounts Receivable (Detail) - Allowance, Credit Loss - USD ($) $ in Millions	12 Months Ended
	Dec. 28, 2019	Dec. 29, 2018	Dec. 30, 2017
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]
Balance at Beginning of Year	$ 83.2	$ 75.7	$ 66.5
Expenses	68.2	70.3	65.1
Deductions	(63)	(62.8)	(55.9)
Balance at End of Year	$ 88.4	$ 83.2	$ 75.7

Inventories - Inventories by Ma

Inventories - Inventories by Major Classification (Detail) - USD ($) $ in Millions	Dec. 28, 2019	Dec. 29, 2018
Inventory Disclosure [Abstract]
Finished goods	$ 661	$ 577
Work in progress	57.1	51.7
Raw materials	126.8	123.5
Total FIFO value	844.9	752.2
Excess of current cost over LIFO cost	(84.5)	(78.4)
Total inventories – net	$ 760.4	$ 673.8

Inventories - Narratve (Detail)

Inventories - Narratve (Detail) - USD ($)	12 Months Ended
Inventories - Narratve (Detail) - USD ($)	Dec. 28, 2019	Dec. 29, 2018	Dec. 30, 2017
Geographic Valuation Methodologies Of Inventory [Line Items]
Percentage of FIFO Inventory	58.00%	61.00%
Effect of LIFO inventory liquidation on income	$ 0	$ 0	$ 0
United States
Geographic Valuation Methodologies Of Inventory [Line Items]
Percentage of FIFO Inventory	32.00%
Percentage of LIFO Inventory	68.00%

Property and Equipment - Schedu

Property and Equipment - Schedule of Property and Equipment (Detail) - USD ($) $ in Millions	Dec. 28, 2019	Dec. 29, 2018
Property, Plant and Equipment [Line Items]
Property and equipment – gross	$ 1,425
Property and equipment - gross		$ 1,344.7
Accumulated depreciation and amortization	(903.5)
Accumulated depreciation and amortization		(849.6)
Property and equipment – net	521.5
Property and equipment - net		495.1
Land
Property, Plant and Equipment [Line Items]
Property and equipment - gross	31.9	31.7
Buildings and improvements
Property, Plant and Equipment [Line Items]
Property and equipment – gross	405.1
Property and equipment - gross		368.6
Machinery, equipment and computer software
Property, Plant and Equipment [Line Items]
Property and equipment – gross	$ 988
Property and equipment - gross		$ 944.4

Property and Equipment - Summar

Property and Equipment - Summary of Estimated Service Lives of Property and Equipment (Detail)	12 Months Ended
	Dec. 28, 2019
Minimum \| Buildings and improvements
Property, Plant and Equipment [Line Items]
Estimate life, years	3 years
Minimum \| Machinery, equipment and computer software
Property, Plant and Equipment [Line Items]
Estimate life, years	2 years
Maximum \| Buildings and improvements
Property, Plant and Equipment [Line Items]
Estimate life, years	50 years
Maximum \| Machinery, equipment and computer software
Property, Plant and Equipment [Line Items]
Estimate life, years	15 years

Property and Equipment - Narrat

Property and Equipment - Narratve (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 28, 2019	Dec. 29, 2018	Dec. 30, 2017
Property, Plant and Equipment [Abstract]
Depreciation expense	$ 70.1	$ 68.8	$ 65.6

Goodwill and Other Intangible_3

Goodwill and Other Intangible Assets - Changes in Carrying Amount of Goodwill by Segment (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 28, 2019	Dec. 29, 2018
Goodwill [Roll Forward]
Beginning Balance	$ 902.2	$ 924.1
Currency translation	(7.5)	(26)
Acquisitions	19.1	4.1
Ending Balance	913.8	902.2
Commercial & Industrial Group
Goodwill [Roll Forward]
Beginning Balance	286.2	298.4
Currency translation	(6.4)	(16.3)
Acquisitions	6.4	4.1
Ending Balance	286.2	286.2
Snap-on Tools Group
Goodwill [Roll Forward]
Beginning Balance	12.5	12.5
Currency translation	0	0
Acquisitions	0	0
Ending Balance	12.5	12.5
Repair Systems & Information Group
Goodwill [Roll Forward]
Beginning Balance	603.5	613.2
Currency translation	(1.1)	(9.7)
Acquisitions	12.7	0
Ending Balance	$ 615.1	$ 603.5

Goodwill and Other Intangible_4

Goodwill and Other Intangible Assets - Narratve (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 28, 2019	Dec. 29, 2018	Dec. 30, 2017
Acquired Finite And Indefinite Lived Intangible Assets [Line Items]
Goodwill	$ 913.8	$ 902.2	$ 924.1
Gross carrying value, finite-lived intangible assets	420	393.5
Non-amortized trademarks	$ 115	109.7
Weighted-average amortization period (in years)	12 years
Aggregate amortization expense	$ 22.3	25.3	$ 27.6
Estimated annual amortization expense for fiscal period 2020	21.4
Estimated annual amortization expense for fiscal period 2021	18.9
Estimated annual amortization expense for fiscal period 2022	15.4
Estimated annual amortization expense for fiscal period 2023	13.2
Estimated annual amortization expense for fiscal period 2024	10.6
Cognitran Limited
Acquired Finite And Indefinite Lived Intangible Assets [Line Items]
Goodwill	11.4
Non-amortized trademarks	6.5
Power Hawk Technologies Inc
Acquired Finite And Indefinite Lived Intangible Assets [Line Items]
Goodwill	6.4
TMB GeoMarketing Limited
Acquired Finite And Indefinite Lived Intangible Assets [Line Items]
Goodwill	1.3
George A. Sturdevant, Inc. (d/b/a Fastorq)
Acquired Finite And Indefinite Lived Intangible Assets [Line Items]
Goodwill		2.6
Norbar
Acquired Finite And Indefinite Lived Intangible Assets [Line Items]
Goodwill		25.1
Increase (decrease) in goodwill associated with acquisition, purchase accounting adjustment		1.4
Torque Control Specialists Pty Ltd
Acquired Finite And Indefinite Lived Intangible Assets [Line Items]
Goodwill		2
Increase (decrease) in goodwill associated with acquisition, purchase accounting adjustment		0.1
Customer relationships
Acquired Finite And Indefinite Lived Intangible Assets [Line Items]
Gross carrying value, finite-lived intangible assets	$ 182.9	172.2
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
Customer relationships \| Cognitran Limited
Acquired Finite And Indefinite Lived Intangible Assets [Line Items]
Gross carrying value, finite-lived intangible assets	$ 10.2
Customer relationships \| Power Hawk Technologies Inc
Acquired Finite And Indefinite Lived Intangible Assets [Line Items]
Gross carrying value, finite-lived intangible assets	0.9
Developed technology
Acquired Finite And Indefinite Lived Intangible Assets [Line Items]
Gross carrying value, finite-lived intangible assets	$ 19.8	$ 18.5
Weighted-average amortization period (in years)	2 years
Developed technology \| Cognitran Limited
Acquired Finite And Indefinite Lived Intangible Assets [Line Items]
Gross carrying value, finite-lived intangible assets	$ 1.1

Goodwill and Other Intangible_5

Goodwill and Other Intangible Assets - Other Intangible Assets by Major class (Detail) - USD ($) $ in Millions	Dec. 28, 2019	Dec. 29, 2018
Finite-Lived Intangible Assets [Line Items]
Gross carrying value, finite-lived intangible assets	$ 420	$ 393.5
Non-amortized trademarks	115	109.7
Total gross carrying value, other intangible assets	535	503.2
Accumulated Amortization, Total	(291.1)	(270.3)
Total accumulated amortization, other intangible assets	(291.1)	(270.3)
Customer relationships
Finite-Lived Intangible Assets [Line Items]
Gross carrying value, finite-lived intangible assets	182.9	172.2
Accumulated Amortization, Total	(117.9)	(107.6)
Developed technology
Finite-Lived Intangible Assets [Line Items]
Gross carrying value, finite-lived intangible assets	19.8	18.5
Accumulated Amortization, Total	(18.9)	(18.3)
Internally developed software
Finite-Lived Intangible Assets [Line Items]
Gross carrying value, finite-lived intangible assets	168	156.6
Accumulated Amortization, Total	(125.4)	(116.6)
Patents
Finite-Lived Intangible Assets [Line Items]
Gross carrying value, finite-lived intangible assets	38.5	35.7
Accumulated Amortization, Total	(23.7)	(22.9)
Trademarks
Finite-Lived Intangible Assets [Line Items]
Gross carrying value, finite-lived intangible assets	3.5	3.2
Accumulated Amortization, Total	(2.1)	(2)
Other
Finite-Lived Intangible Assets [Line Items]
Gross carrying value, finite-lived intangible assets	7.3	7.3
Accumulated Amortization, Total	$ (3.1)	$ (2.9)

Goodwill and Other Intangible_6

Goodwill and Other Intangible Assets - Weighted-Average Amortization Periods by Major class (Detail)	12 Months Ended
	Dec. 28, 2019
Finite-Lived Intangible Assets [Line Items]
Weighted-average amortization period (in years)	12 years
Customer relationships
Finite-Lived Intangible Assets [Line Items]
Weighted-average amortization period (in years)	15 years
Developed technology
Finite-Lived Intangible Assets [Line Items]
Weighted-average amortization period (in years)	2 years
Internally developed software
Finite-Lived Intangible Assets [Line Items]
Weighted-average amortization period (in years)	6 years
Patents
Finite-Lived Intangible Assets [Line Items]
Weighted-average amortization period (in years)	7 years
Trademarks
Finite-Lived Intangible Assets [Line Items]
Weighted-average amortization period (in years)	5 years
Other
Finite-Lived Intangible Assets [Line Items]
Weighted-average amortization period (in years)	39 years

Income Taxes - Earnings Before

Income Taxes - Earnings Before Income Taxes And Equity Earnings (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 28, 2019	Dec. 29, 2018	Dec. 30, 2017
Income Tax Disclosure [Abstract]
Earnings before income taxes and equity earnings, United States	$ 765.3	$ 735.4	$ 645.5
Earnings before income taxes and equity earnings, Foreign	156.8	174.5	176.4
Earnings before income taxes and equity earnings	$ 922.1	$ 909.9	$ 821.9

Income Taxes - Components of In

Income Taxes - Components of Income Tax (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 28, 2019	Dec. 29, 2018	Dec. 30, 2017
Current:
Current income taxes, federal	$ 110	$ 117.9	$ 166.9
Current income taxes, foreign	38.1	52.4	41.1
Current income taxes, state	29.5	30.4	30.6
Total current	177.6	200.7	238.6
Deferred:
Deferred income taxes, federal	26.6	18.7	8.7
Deferred income taxes, foreign	1.5	(8.4)	2.9
Deferred income taxes, state	6.1	3.4	0.7
Total deferred	34.2	13.7	12.3
Total income tax provision	$ 211.8	$ 214.4	$ 250.9

Income Taxes - Reconciliation o

Income Taxes - Reconciliation of Statutory Federal Income Tax Rate (Detail)	12 Months Ended
	Dec. 28, 2019	Dec. 29, 2018	Dec. 30, 2017
Income Tax Disclosure [Abstract]
Statutory federal income tax rate	21.00%	21.00%	35.00%
Increase (decrease) in tax rate resulting from:
State income taxes, net of federal benefit	2.90%	2.90%	2.40%
Noncontrolling interests	(0.40%)	(0.40%)	(0.60%)
Repatriation of foreign earnings	(0.10%)	(0.10%)	(1.20%)
Change in valuation allowance for deferred tax assets	0.40%	0.30%	0.10%
Adjustments to tax accruals and reserves	(0.40%)	(0.20%)	(0.30%)
Foreign rate differences	0.40%	0.40%	(2.40%)
Domestic production activities deduction	0.00%	0.00%	(2.10%)
Excess tax benefits related to equity compensation	(0.50%)	(0.80%)	(1.40%)
U.S. tax reform, net impact	0.00%	0.40%	0.90%
Other	(0.30%)	0.10%	0.10%
Effective tax rate	23.00%	23.60%	30.50%

Income Taxes - Narratve (Detail

Income Taxes - Narratve (Detail) - USD ($)	12 Months Ended
Income Taxes - Narratve (Detail) - USD ($)	Dec. 28, 2019	Dec. 29, 2018	Dec. 30, 2017	Dec. 31, 2016
Income Tax [Line Items]
Effective income tax rate	23.40%	24.00%	31.10%
Tax Cuts and Jobs Act, income tax expense			$ 7,000,000
Tax Cuts and Jobs Act, Transition tax			13,700,000
Provision includes revaluation of deferred tax assets and liabilities, benefit			6,700,000
Tax Cut and Jobs Act, Transition Tax		$ 8,300,000
Additional net tax benefits due to pension contributions and other changes		4,400,000
Valuation allowance	$ 27,800,000	25,100,000	25,200,000
Unrecognized tax benefits	10,300,000	11,100,000	7,700,000	$ 9,400,000
Accrued interest and penalties related to unrecognized tax benefits	1,100,000	800,000	600,000
Interest and penalties related to unrecognized tax benefits	300,000
Increase in unrecognized tax benefits	500,000	2,800,000	1,000,000
Undistributed earnings	271,800,000
Undistributed foreign earnings	6,600,000	$ 6,000,000	$ 0
Deferred Income Tax Assets
Income Tax [Line Items]
Unrecognized tax benefits	1,200,000
Other Long-Term Liabilities
Income Tax [Line Items]
Unrecognized tax benefits	9,100,000
Accrued interest and penalties related to unrecognized tax benefits	1,100,000
Minimum
Income Tax [Line Items]
Decrease in unrecognized tax benefits	0
Increase in unrecognized tax benefits	0
Maximum
Income Tax [Line Items]
Decrease in unrecognized tax benefits	2,400,000
Increase in unrecognized tax benefits	$ 900,000

Income Taxes - Schedule of Defe

Income Taxes - Schedule of Deferred Tax Assets and Liabilities (Detail) - USD ($) $ in Millions	Dec. 28, 2019	Dec. 29, 2018	Dec. 30, 2017
Components of Deferred Tax Assets and Liabilities [Abstract]
Inventories	$ 34.7	$ 33.6	$ 28.8
Accruals not currently deductible	62.4	72.9	61.7
Tax credit carryforward	2	1.8	2.1
Employee benefits	41.3	56.5	56.8
Net operating losses	40.4	40.9	44
Depreciation and amortization	(178.9)	(167.5)	(161.3)
Valuation allowance	(27.8)	(25.1)	(25.2)
Equity-based compensation	16.2	16.6	17.1
Undistributed non-U.S. earnings	(6.6)	(6)	0
Cash flow hedge	0	0	(0.3)
Other	(0.7)	(0.4)	(0.1)
Net deferred income tax asset		$ 23.3	$ 23.6
Net deferred income tax liabilities	$ (17)

Income Taxes - Operating Loss C

Income Taxes - Operating Loss Carry Forwards (Detail) $ in Millions	Dec. 28, 2019USD ($)
Income Taxes [Line Items]
Total net operating loss carryforwards	$ 209.6
State
Income Taxes [Line Items]
Total net operating loss carryforwards	74.7
Federal
Income Taxes [Line Items]
Total net operating loss carryforwards	0
Foreign
Income Taxes [Line Items]
Total net operating loss carryforwards	134.9
2020-2024
Income Taxes [Line Items]
Total net operating loss carryforwards	59.3
2020-2024 \| State
Income Taxes [Line Items]
Total net operating loss carryforwards	0.3
2020-2024 \| Federal
Income Taxes [Line Items]
Total net operating loss carryforwards	0
2020-2024 \| Foreign
Income Taxes [Line Items]
Total net operating loss carryforwards	59
2025-2029
Income Taxes [Line Items]
Total net operating loss carryforwards	9.4
2025-2029 \| State
Income Taxes [Line Items]
Total net operating loss carryforwards	0
2025-2029 \| Federal
Income Taxes [Line Items]
Total net operating loss carryforwards	0
2025-2029 \| Foreign
Income Taxes [Line Items]
Total net operating loss carryforwards	9.4
2030-2034
Income Taxes [Line Items]
Total net operating loss carryforwards	74.4
2030-2034 \| State
Income Taxes [Line Items]
Total net operating loss carryforwards	74.4
2030-2034 \| Federal
Income Taxes [Line Items]
Total net operating loss carryforwards	0
2030-2034 \| Foreign
Income Taxes [Line Items]
Total net operating loss carryforwards	0
2035-2039
Income Taxes [Line Items]
Total net operating loss carryforwards	0
2035-2039 \| State
Income Taxes [Line Items]
Total net operating loss carryforwards	0
2035-2039 \| Federal
Income Taxes [Line Items]
Total net operating loss carryforwards	0
2035-2039 \| Foreign
Income Taxes [Line Items]
Total net operating loss carryforwards	0
2040-2044
Income Taxes [Line Items]
Total net operating loss carryforwards	34.1
2040-2044 \| State
Income Taxes [Line Items]
Total net operating loss carryforwards	0
2040-2044 \| Federal
Income Taxes [Line Items]
Total net operating loss carryforwards	0
2040-2044 \| Foreign
Income Taxes [Line Items]
Total net operating loss carryforwards	34.1
Indefinite
Income Taxes [Line Items]
Total net operating loss carryforwards	32.4
Indefinite \| State
Income Taxes [Line Items]
Total net operating loss carryforwards	0
Indefinite \| Federal
Income Taxes [Line Items]
Total net operating loss carryforwards	0
Indefinite \| Foreign
Income Taxes [Line Items]
Total net operating loss carryforwards	$ 32.4

Income Taxes - Reconciliation_2

Income Taxes - Reconciliation of Unrecognized Tax Benefits (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 28, 2019	Dec. 29, 2018	Dec. 30, 2017
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]
Unrecognized tax benefits at beginning of year	$ 11.1	$ 7.7	$ 9.4
Gross increases – tax positions in prior periods	0	1.3	1.4
Gross decreases – tax positions in prior periods	(0.6)	(0.1)	0
Gross increases – tax positions in the current period	0.5	2.8	1
Settlements with taxing authorities	0	0	(3.6)
Lapsing of statutes of limitations	(0.7)	(0.6)	(0.5)
Unrecognized tax benefits at end of year	$ 10.3	$ 11.1	$ 7.7

Short-term and Long-term Debt -

Short-term and Long-term Debt - Summary of Short-term and Long-term Debt (Detail) - USD ($) $ in Millions	Dec. 28, 2019	Dec. 29, 2018	Feb. 20, 2018
Schedule Of Debt Instruments [Line Items]
Other debt	$ 199.8	$ 182.3
Long-term debt including current maturities	1,149.8	1,132.3
Less: notes payable and current maturities of long-term debt:
Commercial paper borrowings	(193.6)	(177.1)
Other notes	(9.3)	(9.2)
Notes payable and current maturities of long-term debt	(202.9)	(186.3)
Total long-term debt	$ 946.9	946
6.125% unsecured notes due 2021
Schedule Of Debt Instruments [Line Items]
Unsecured notes, interest rate	6.125%
Unsecured notes. noncurrent	$ 250	250
3.25% unsecured notes due 2027
Schedule Of Debt Instruments [Line Items]
Unsecured notes, interest rate	3.25%
Unsecured notes. noncurrent	$ 300	300
4.10% unsecured notes due 2048
Schedule Of Debt Instruments [Line Items]
Unsecured notes, interest rate	4.10%		4.10%
Unsecured notes. noncurrent	$ 400	$ 400

Short-term and Long-term Debt_2

Short-term and Long-term Debt - Narratve (Detail) - USD ($)	Mar. 22, 2018	Feb. 20, 2018	Dec. 28, 2019	Dec. 29, 2018	Dec. 30, 2017	Sep. 16, 2019	Sep. 15, 2019
Schedule Of Debt Instruments [Line Items]
Long-term debt and notes payable maturity, 2020			$ 202,900,000
Long-term debt and notes payable maturity, 2021			250,000,000
Long-term debt and notes payable maturity, 2022			0
Long-term debt and notes payable maturity, 2023			0
Long-term debt and notes payable maturity, 2024			$ 0
Weighted-average interest rate			2.23%	3.21%
Loss on early extinguishment of debt			$ 0	$ 7,800,000	$ 0
Proceeds from sale of unsecured long-term notes			0	395,400,000	$ 297,800,000
Notes Payable
Schedule Of Debt Instruments [Line Items]
Average debt instrument amount outstanding			$ 175,000,000	$ 167,700,000
Weighted-average interest rate			2.87%	2.84%
Commercial Paper
Schedule Of Debt Instruments [Line Items]
Average debt instrument amount outstanding			$ 162,200,000	$ 154,900,000
Weighted-average interest rate			2.27%	2.03%
Unsecured Notes Due 2019
Schedule Of Debt Instruments [Line Items]
Debt instrument, face amount		$ 200,000,000
Unsecured notes, interest rate		6.70%
Notes 2019
Schedule Of Debt Instruments [Line Items]
Debt repurchase amount		$ 26,100,000
Payment for debt extinguishment	$ 209,100,000
Interest expense	1,500,000
Loss on early extinguishment of debt	$ 7,800,000
4.10% unsecured notes due 2048
Schedule Of Debt Instruments [Line Items]
Debt instrument, face amount		$ 400,000,000
Unsecured notes, interest rate		4.10%	4.10%
Proceeds from sale of unsecured long-term notes		$ 395,400,000
Transaction costs		$ 3,500,000
Five-year Multi-Currency Revolving Credit Facility
Schedule Of Debt Instruments [Line Items]
Debt maturity term			5 years
Revolving credit facility, amount available						$ 800,000,000	$ 700,000,000
Revolving credit facility, outstanding amount			$ 0
Actual debt-to-capital ratio			0.20
Actual debt-to-income ratio			0.92
Five-year Multi-Currency Revolving Credit Facility \| Maximum
Schedule Of Debt Instruments [Line Items]
Maximum limit of required debt-to-capital ratio			0.60
Maximum limit of required debt-to-income ratio			3.50
Five-year Multi-Currency Revolving Credit Facility \| Maximum \| Material Acquisition
Schedule Of Debt Instruments [Line Items]
Maximum limit of required debt-to-capital ratio			0.65
Maximum limit of required debt-to-income ratio			4

Financial Instruments - Narratv

Financial Instruments - Narratve (Detail) - USD ($)	12 Months Ended
Financial Instruments - Narratve (Detail) - USD ($)	Dec. 28, 2019	Dec. 29, 2018	Mar. 31, 2018	Dec. 30, 2017
Investment Holdings [Line Items]
Foreign currency forwards outstanding, net	$ 33,200,000	$ 26,300,000
Treasury locks settled			$ 300,000,000
Derivative gain expected to reclassify from Accumulated OCI into earnings, in the next 12 months, net of tax	$ 1,100,000
Maximum
Investment Holdings [Line Items]
Maximum maturity date of fair value hedge (in years)	2 years
Fair Value Hedging
Investment Holdings [Line Items]
Notional amount of interest rate swaps outstanding and designated as fair value hedges	$ 100,000,000	100,000,000
Foreign currency forwards \| Euros
Investment Holdings [Line Items]
Foreign currency forwards outstanding, buy contracts	41,400,000	26,700,000
Foreign currency forwards \| Swedish Kronor
Investment Holdings [Line Items]
Foreign currency forwards outstanding, buy contracts	34,500,000	23,600,000
Foreign currency forwards \| Hong Kong Dollars
Investment Holdings [Line Items]
Foreign currency forwards outstanding, buy contracts	17,400,000	21,000,000
Foreign currency forwards \| China, Yuan Renminbi
Investment Holdings [Line Items]
Foreign currency forwards outstanding, buy contracts	13,100,000	10,200,000
Foreign currency forwards \| Singapore Dollars
Investment Holdings [Line Items]
Foreign currency forwards outstanding, buy contracts	13,000,000	8,600,000
Foreign currency forwards \| Norwegian Kroner
Investment Holdings [Line Items]
Foreign currency forwards outstanding, buy contracts	6,000,000	6,300,000
Foreign currency forwards \| South Korean Won
Investment Holdings [Line Items]
Foreign currency forwards outstanding, buy contracts		7,000,000
Foreign currency forwards \| Other Currency
Investment Holdings [Line Items]
Foreign currency forwards outstanding, buy contracts	7,000,000	5,100,000
Foreign currency forwards outstanding, sell contracts	9,200,000	3,800,000
Foreign currency forwards \| British Pounds
Investment Holdings [Line Items]
Foreign currency forwards outstanding, sell contracts	52,900,000	37,400,000
Foreign currency forwards \| Canadian Dollars
Investment Holdings [Line Items]
Foreign currency forwards outstanding, sell contracts	17,500,000	14,600,000
Foreign currency forwards \| Indian Rupees
Investment Holdings [Line Items]
Foreign currency forwards outstanding, sell contracts	10,000,000	8,200,000
Foreign currency forwards \| Japan, Yen
Investment Holdings [Line Items]
Foreign currency forwards outstanding, sell contracts	$ 9,600,000	11,000,000
Foreign currency forwards \| Australian Dollars
Investment Holdings [Line Items]
Foreign currency forwards outstanding, sell contracts		4,100,000
Foreign currency forwards \| Thai Baht
Investment Holdings [Line Items]
Foreign currency forwards outstanding, sell contracts		$ 3,100,000
Equity forwards
Investment Holdings [Line Items]
Equity forwards in place of common stock associated with its deferred compensation plans (in shares)	89,600	99,100
Treasury locks
Investment Holdings [Line Items]
Treasury locks outstanding	$ 0	$ 0		$ 300,000,000
Gain on the settlement of the treasury lock		$ 13,300,000

Financial Instruments - Change

Financial Instruments - Change in Fair Value of Derivative (Detail) - USD ($)	Dec. 28, 2019	Dec. 29, 2018
Long-term debt
Derivatives, Fair Value [Line Items]
Carrying Amount of Hedged Liability	$ (255,000,000)	$ (254,600,000)
Cumulative Amount of Fair Value Hedging Adjustment Included in the Carrying Amount of the Hedged Assets/(Liabilities)	(5,000,000)	(4,600,000)
6.125% unsecured notes due 2021
Derivatives, Fair Value [Line Items]
Notional amount of interest rate swaps outstanding and designated as fair value hedges	100,000,000
Unsecured notes. noncurrent	$ 250,000,000	$ 250,000,000
Unsecured notes, interest rate	6.125%

Financial Instruments - Fair Va

Financial Instruments - Fair Values of Derivative Instruments Included within Accompanying Consolidated Balance Sheets (Detail) - USD ($) $ in Millions	Dec. 28, 2019	Dec. 29, 2018
Derivatives, Fair Value [Line Items]
Derivative Assets Fair Value	$ 23.7	$ 21.7
Derivative Liability Fair Value	4.6	3.2
Derivatives designated as hedging instruments: \| Other assets \| Interest rate swaps
Derivatives, Fair Value [Line Items]
Derivative Assets Fair Value	5	4.6
Derivatives not designated as hedging instruments:
Derivatives, Fair Value [Line Items]
Derivative Assets Fair Value	18.7	17.1
Derivative Liability Fair Value	4.6	3.2
Derivatives not designated as hedging instruments: \| Prepaid expenses and other assets \| Foreign currency forwards
Derivatives, Fair Value [Line Items]
Derivative Assets Fair Value	3.5	2.8
Derivatives not designated as hedging instruments: \| Prepaid expenses and other assets \| Equity forwards
Derivatives, Fair Value [Line Items]
Derivative Assets Fair Value	15.2	14.3
Derivatives not designated as hedging instruments: \| Other accrued liabilities \| Foreign currency forwards
Derivatives, Fair Value [Line Items]
Derivative Liability Fair Value	$ 4.6	$ 3.2

Financial Instruments - Effect

Financial Instruments - Effect of Derivative Instruments Designated as Cash Flow Hedges Included in AOCI on the Consolidated Balance Sheets (Detail) - Treasury locks - USD ($) $ in Millions	12 Months Ended
	Dec. 28, 2019	Dec. 29, 2018	Dec. 30, 2017
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain (Loss) Recognized in Other Comprehensive Income on Derivative	$ 0
Amount of Gain (Loss) Recognized in Other Comprehensive Income on Derivative		$ (0.8)	$ 6.9

Financial Instruments - Effec_2

Financial Instruments - Effect of Derivative Instruments Designated as Fair Value and Cash Flow Hedges Included in the Consolidated Statements of Earnings (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 28, 2019	Dec. 29, 2018	Dec. 30, 2017
Derivative Instruments, Gain (Loss) [Line Items]
Interest expense	$ (49)	$ (50.4)	$ (52.4)
Other income (expense) – net	8.8	4.2	(7.8)
Gain on settlement	0	13.3	0
Interest rate swaps \| Interest expense \| Long-term debt
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) on fair value hedging relationships	(15.4)	(15.4)	(15.4)
Interest rate swaps \| Interest expense \| Derivatives designated as hedging instruments
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) on fair value hedging relationships	2	1.5	2.8
Interest rate swaps \| Other income (expense) – net \| Long-term debt
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) on fair value hedging relationships	0	0	0
Interest rate swaps \| Other income (expense) – net \| Derivatives designated as hedging instruments
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) on fair value hedging relationships	0	0	0
Treasury locks \| Interest expense
Derivative Instruments, Gain (Loss) [Line Items]
Gain reclassified from accumulated OCI into income	1.5	1.5	1.6
Gain on settlement	0	0	0
Treasury locks \| Other income (expense) – net
Derivative Instruments, Gain (Loss) [Line Items]
Gain reclassified from accumulated OCI into income	0	0	0
Gain on settlement	$ 0	$ 13.3	$ 0

Financial Instruments - Derivat

Financial Instruments - Derivative Instruments Not Designated as Hedges Included in Consolidated Statements of Earnings (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 28, 2019	Dec. 29, 2018	Dec. 30, 2017
Other income (expense) – net \| Foreign currency forwards
Derivative Instruments, Gain (Loss) [Line Items]
Gain (Loss) Recognized in Income on Derivatives	$ (20)	$ (40.4)	$ (25.8)
Other income (expense) – net \| Net exposures
Derivative Instruments, Gain (Loss) [Line Items]
Gain (Loss) Recognized in Income on Derivatives	16.4	36.5	18.8
Operating expenses \| Equity forwards
Derivative Instruments, Gain (Loss) [Line Items]
Gain (Loss) Recognized in Income on Derivatives	3	(2.1)	0.9
Operating expenses \| Stock-based deferred compensation liabilities
Derivative Instruments, Gain (Loss) [Line Items]
Gain (Loss) Recognized in Income on Derivatives	$ (3)	$ 2	$ (0.8)

Financial Instruments - Fair _2

Financial Instruments - Fair Values of Financial Instruments Not Approximating Carrying Values in Financial Statements (Detail) - USD ($) $ in Millions	Dec. 28, 2019	Dec. 29, 2018
Fair Values Not Approximating Carrying Value [Line Items]
Long-term debt, notes payable and current maturities of long-term debt, carrying value	$ 1,149.8	$ 1,132.3
Carrying Value
Fair Values Not Approximating Carrying Value [Line Items]
Finance receivables – net	1,633.6	1,592.9
Contract receivables – net	460.8	443.2
Long-term debt, notes payable and current maturities of long-term debt, carrying value	1,149.8	1,132.3
Fair Value
Fair Values Not Approximating Carrying Value [Line Items]
Finance receivables – net	1,920.6	1,845.4
Contract receivables – net	505.5	481.2
Long-term debt, notes payable and current maturities of long-term debt, fair value	$ 1,238.8	$ 1,136

Pension Plans - Narratve (Detai

Pension Plans - Narratve (Detail) - USD ($) $ in Millions	12 Months Ended
Pension Plans - Narratve (Detail) - USD ($) $ in Millions	Dec. 28, 2019	Dec. 29, 2018	Dec. 30, 2017
Defined Benefit Plan Disclosure [Line Items]
Normal retirement age	65 years
Accumulated benefit obligation	$ 1,478	$ 1,316.1
Expense recognized related to 401(k)plan	$ 9.8	$ 9.4	$ 8.9
Minimum
Defined Benefit Plan Disclosure [Line Items]
Time horizon for asset under risk and correlation assumption (in years)	10 years
Maximum
Defined Benefit Plan Disclosure [Line Items]
Time horizon for asset under risk and correlation assumption (in years)	20 years
United States
Defined Benefit Plan Disclosure [Line Items]
Weighted-average discount rate	3.40%
Increase in pension expense	$ 4.3
Increase in projected benefit obligation	$ 74.2
Percentage of projected benefit obligations	83.00%
Foreign Pension Plans
Defined Benefit Plan Disclosure [Line Items]
Weighted-average discount rate	2.10%
Increase in pension expense	$ 1.6
Increase in projected benefit obligation	$ 26.8
Pension Plan
Defined Benefit Plan Disclosure [Line Items]
Expected long-term rate of return on plan assets	7.10%	7.10%	7.20%
Pension Plan \| United States
Defined Benefit Plan Disclosure [Line Items]
Expected future employer contributions	$ 2.9
Expected long-term rate of return on plan assets	7.25%
Pension plans' assets as percentage of worldwide pension assets	87.00%
Pension Plan \| Foreign Pension Plans
Defined Benefit Plan Disclosure [Line Items]
Expected future employer contributions	$ 8.7
Pension Plan \| Foreign Pension Plans \| Minimum
Defined Benefit Plan Disclosure [Line Items]
Expected long-term rate of return on plan assets	1.30%
Pension Plan \| Foreign Pension Plans \| Maximum
Defined Benefit Plan Disclosure [Line Items]
Expected long-term rate of return on plan assets	5.70%

Pension Plans - Summary of Chan

Pension Plans - Summary of Change in Benefit Obligation (Detail) - Pension Plan - USD ($) $ in Millions	12 Months Ended
	Dec. 28, 2019	Dec. 29, 2018	Dec. 30, 2017
Defined Benefit Plan, Change in Benefit Obligation [Roll Forward]
Benefit obligation at beginning of year	$ 1,386.9	$ 1,467.6
Service cost	23.5	25.1	$ 22.7
Interest cost	56.4	52.8	56.1
Plan participant contributions	0.5	0.5
Plan amendments	0	1
Benefits paid	(73)	(68.5)
Actuarial (gain) loss	169.5	(77.9)
Foreign currency impact	1.8	(13.7)
Benefit obligation at end of year	$ 1,565.6	$ 1,386.9	$ 1,467.6

Pension Plans - Summary of Ch_2

Pension Plans - Summary of Change in Fair Value of Plan Assets (Detail) - Pension Plan - USD ($) $ in Millions	12 Months Ended
	Dec. 28, 2019	Dec. 29, 2018
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Fair value of plan assets at beginning of year	$ 1,215.6	$ 1,305
Actual (loss) gain on plan assets	258.7	(72.8)
Employer contributions	50.8	61.3
Plan participant contributions	0.4	0.5
Benefits paid	(73)	(68.5)
Foreign currency impact	3	(9.9)
Fair value of plan assets at end of year	1,455.5	1,215.6
Unfunded status at end of year	$ (110.1)	$ (171.3)

Pension Plans - Summary of Amou

Pension Plans - Summary of Amounts Recognized in Consolidated Balance Sheets (Detail) - USD ($) $ in Millions	Dec. 28, 2019	Dec. 29, 2018
Defined Benefit Plan Disclosure [Line Items]
Pension liabilities	$ (122.1)	$ (171.3)
Pension Plan
Defined Benefit Plan Disclosure [Line Items]
Other assets	17.3	4.3
Accrued benefits	(5.3)	(4.3)
Pension liabilities	(122.1)	(171.3)
Net liability	$ (110.1)	$ (171.3)

Pension Plans - Summary of Am_2

Pension Plans - Summary of Amounts Included in Accumulated Other Comprehensive Income Loss (Detail) - Pension Plan - USD ($) $ in Millions	Dec. 28, 2019	Dec. 29, 2018
Defined Benefit Plan Disclosure [Line Items]
Net loss, net of tax of $104.8 million and $158.8 million, respectively	$ (333.8)	$ (301.9)
Prior service cost, net of tax of ($0.1) million and $0.4 million, respectively	(0.6)	(0.2)
Amounts included in accumulated other comprehensive income (loss)	(334.4)	(302.1)
Accumulated Defined Benefit Plans Adjustment, Net Gain (Loss) Attributable to Parent
Defined Benefit Plan Disclosure [Line Items]
AOCI, tax	104.8	158.8
Accumulated Defined Benefit Plans Adjustment, Net Prior Service Attributable to Parent
Defined Benefit Plan Disclosure [Line Items]
AOCI, tax	$ (0.1)	$ 0.4

Pension Plans - Summary of Bene

Pension Plans - Summary of Benefit Obligations in Excess of Fair Value of Plan Assets (Detail) - Pension Plan - USD ($) $ in Millions	Dec. 28, 2019	Dec. 29, 2018
Defined Benefit Plan Disclosure [Line Items]
Accumulated benefit obligation	$ 231	$ 1,028.6
Fair value of plan assets	126.5	916.2
Projected benefit obligation	1,336.9	1,183.2
Fair value of plan assets	$ 1,209.5	$ 1,007.6

Pension Plans - Net Periodic Pe

Pension Plans - Net Periodic Pension Cost (Detail) - Pension Plan - USD ($) $ in Millions	12 Months Ended
	Dec. 28, 2019	Dec. 29, 2018	Dec. 30, 2017
Net periodic benefit cost:
Service cost	$ 23.5	$ 25.1	$ 22.7
Interest cost	56.4	52.8	56.1
Expected return on plan assets	(91.5)	(88.6)	(83.4)
Amortization of unrecognized loss	25.2	32.7	27.9
Amortization of prior service credit	(0.9)	(1.2)	(1.1)
Settlement loss	0	0	0.1
Net periodic benefit cost	12.7	20.8	22.3
Changes in benefit obligations recognized in OCI, net of tax:
Net (gain) loss	31.9	35.2	(30.3)
Prior service cost	0.4	1.7	0.7
Total recognized in OCI	$ 32.3	$ 36.9	$ (29.6)

Pension Plans - Summary of Weig

Pension Plans - Summary of Weighted-Average Assumptions Used to Determine Full-Year Pension Costs (Detail) - Pension Plan	12 Months Ended
	Dec. 28, 2019	Dec. 29, 2018	Dec. 30, 2017
Defined Benefit Plan Disclosure [Line Items]
Discount rate	4.20%	3.70%	4.20%
Expected return on plan assets	7.10%	7.10%	7.20%
Rate of compensation increase	3.40%	3.40%	3.40%

Pension Plans - Summary of We_2

Pension Plans - Summary of Weighted Average Assumptions Used to Determine Projected Benefit Obligation (Detail) - Pension Plan	Dec. 28, 2019	Dec. 29, 2018
Defined Benefit Plan Disclosure [Line Items]
Discount rate	3.20%	4.40%
Rate of compensation increase	3.40%	3.40%
Interest crediting rate - U.S. cash balance plan	3.80%	3.80%

Pension Plans - Summary of Expe

Pension Plans - Summary of Expected Benefit Payments (Detail) - Pension Plan $ in Millions	Dec. 28, 2019USD ($)
Defined Benefit Plan Disclosure [Line Items]
2020	$ 81.7
2021	84.3
2022	95.1
2023	91.3
2024	94.6
2025-2029	$ 498.9

Pension Plans - Summary of Targ

Pension Plans - Summary of Target Allocation and Weighted-Average Asset Allocation by Asset Category and Fair Value of Plan Assets (Detail) - USD ($) $ in Millions	Dec. 28, 2019	Dec. 29, 2018	Dec. 30, 2017
Pension Plan
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	$ 1,455.5	$ 1,215.6	$ 1,305
United States
Defined Benefit Plan Disclosure [Line Items]
Target allocation	100.00%
Actual weighted-average asset allocation	100.00%	100.00%
Fair value of plan assets	$ 1,260.5	$ 1,049
United States \| Pension Plan
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	$ 1,260.5	$ 1,049
United States \| Equity securities
Defined Benefit Plan Disclosure [Line Items]
Target allocation	51.00%
Actual weighted-average asset allocation	51.00%	49.00%
United States \| Debt securities and cash and cash equivalents
Defined Benefit Plan Disclosure [Line Items]
Target allocation	37.00%
Actual weighted-average asset allocation	40.00%	40.00%
United States \| Real estate and other real assets
Defined Benefit Plan Disclosure [Line Items]
Target allocation	2.00%
Actual weighted-average asset allocation	1.00%	1.00%
United States \| Real estate and other real assets \| Pension Plan
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	$ 8.8	$ 11.9
United States \| Hedge funds
Defined Benefit Plan Disclosure [Line Items]
Target allocation	10.00%
Actual weighted-average asset allocation	8.00%	10.00%
United States \| Hedge funds \| Pension Plan
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	$ 107.8	$ 104.5
Foreign Pension Plans \| Pension Plan
Defined Benefit Plan Disclosure [Line Items]
Target allocation	100.00%
Actual weighted-average asset allocation	100.00%	100.00%
Fair value of plan assets	$ 195	$ 166.6
Foreign Pension Plans \| Equity securities \| Pension Plan
Defined Benefit Plan Disclosure [Line Items]
Target allocation	46.00%
Actual weighted-average asset allocation	46.00%	35.00%
Foreign Pension Plans \| Debt securities and cash and cash equivalents \| Pension Plan
Defined Benefit Plan Disclosure [Line Items]
Target allocation	40.00%
Actual weighted-average asset allocation	40.00%	42.00%
Foreign Pension Plans \| Hedge funds \| Pension Plan
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets		$ 14.3
Foreign Pension Plans \| Insurance contracts and hedge funds \| Pension Plan
Defined Benefit Plan Disclosure [Line Items]
Target allocation	14.00%
Actual weighted-average asset allocation	14.00%	23.00%

Pension Plans - Summary of Fair

Pension Plans - Summary of Fair Value by Asset Category and Within Fair Value Hierarchy (Detail) - USD ($) $ in Millions	Dec. 28, 2019	Dec. 29, 2018	Dec. 30, 2017
Pension Plan
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	$ 1,455.5	$ 1,215.6	$ 1,305
United States
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	1,260.5	1,049
United States \| Pension Plan
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	1,260.5	1,049
United States \| Cash and cash equivalents \| Pension Plan
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	25.6	17.8
United States \| Domestic \| Pension Plan
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	95.1	70.5
United States \| Foreign \| Pension Plan
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	58.4	87.5
United States \| Commingled funds – domestic \| Pension Plan
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	263.6	200.6
United States \| Commingled funds – foreign \| Pension Plan
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	209.4	128.4
United States \| Private equity partnerships \| Pension Plan
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	17.4	22.7
United States \| Government \| Pension Plan
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	146.7	133.8
United States \| Corporate bonds \| Pension Plan
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	327.7	271.3
United States \| Real estate and other real assets \| Pension Plan
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	8.8	11.9
United States \| Hedge funds \| Pension Plan
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	107.8	104.5
Foreign Pension Plans \| Pension Plan
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	195	166.6
Foreign Pension Plans \| Cash and cash equivalents \| Pension Plan
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0.9	1.2
Foreign Pension Plans \| Government \| Pension Plan
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	10.1	8.3
Foreign Pension Plans \| Corporate bonds \| Pension Plan
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	21.4	17.5
Foreign Pension Plans \| Hedge funds \| Pension Plan
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets		14.3
Foreign Pension Plans \| Commingled funds – multi-strategy \| Pension Plan
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	135.5	101.5
Foreign Pension Plans \| Insurance contracts \| Pension Plan
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	27.1	23.8
Quoted Prices for Identical Assets (Level 1) \| United States \| Pension Plan
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	323.1	307
Quoted Prices for Identical Assets (Level 1) \| United States \| Cash and cash equivalents \| Pension Plan
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	25.6	17.8
Quoted Prices for Identical Assets (Level 1) \| United States \| Domestic \| Pension Plan
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	95.1	70.5
Quoted Prices for Identical Assets (Level 1) \| United States \| Foreign \| Pension Plan
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	58.4	87.5
Quoted Prices for Identical Assets (Level 1) \| United States \| Commingled funds – domestic \| Pension Plan
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
Quoted Prices for Identical Assets (Level 1) \| United States \| Commingled funds – foreign \| Pension Plan
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
Quoted Prices for Identical Assets (Level 1) \| United States \| Private equity partnerships \| Pension Plan
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
Quoted Prices for Identical Assets (Level 1) \| United States \| Government \| Pension Plan
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	144	131.2
Quoted Prices for Identical Assets (Level 1) \| United States \| Corporate bonds \| Pension Plan
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
Quoted Prices for Identical Assets (Level 1) \| United States \| Real estate and other real assets \| Pension Plan
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
Quoted Prices for Identical Assets (Level 1) \| United States \| Hedge funds \| Pension Plan
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
Quoted Prices for Identical Assets (Level 1) \| Foreign Pension Plans \| Pension Plan
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	11	9.5
Quoted Prices for Identical Assets (Level 1) \| Foreign Pension Plans \| Cash and cash equivalents \| Pension Plan
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0.9	1.2
Quoted Prices for Identical Assets (Level 1) \| Foreign Pension Plans \| Government \| Pension Plan
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	10.1	8.3
Quoted Prices for Identical Assets (Level 1) \| Foreign Pension Plans \| Corporate bonds \| Pension Plan
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
Quoted Prices for Identical Assets (Level 1) \| Foreign Pension Plans \| Hedge funds \| Pension Plan
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets		0
Quoted Prices for Identical Assets (Level 1) \| Foreign Pension Plans \| Commingled funds – multi-strategy \| Pension Plan
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
Quoted Prices for Identical Assets (Level 1) \| Foreign Pension Plans \| Insurance contracts \| Pension Plan
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
Significant Other Observable Inputs (Level 2) \| United States \| Pension Plan
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	330.4	273.9
Significant Other Observable Inputs (Level 2) \| United States \| Cash and cash equivalents \| Pension Plan
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
Significant Other Observable Inputs (Level 2) \| United States \| Domestic \| Pension Plan
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
Significant Other Observable Inputs (Level 2) \| United States \| Foreign \| Pension Plan
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
Significant Other Observable Inputs (Level 2) \| United States \| Commingled funds – domestic \| Pension Plan
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
Significant Other Observable Inputs (Level 2) \| United States \| Commingled funds – foreign \| Pension Plan
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
Significant Other Observable Inputs (Level 2) \| United States \| Private equity partnerships \| Pension Plan
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
Significant Other Observable Inputs (Level 2) \| United States \| Government \| Pension Plan
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	2.7	2.6
Significant Other Observable Inputs (Level 2) \| United States \| Corporate bonds \| Pension Plan
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	327.7	271.3
Significant Other Observable Inputs (Level 2) \| United States \| Real estate and other real assets \| Pension Plan
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
Significant Other Observable Inputs (Level 2) \| United States \| Hedge funds \| Pension Plan
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
Significant Other Observable Inputs (Level 2) \| Foreign Pension Plans \| Pension Plan
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	48.5	41.3
Significant Other Observable Inputs (Level 2) \| Foreign Pension Plans \| Cash and cash equivalents \| Pension Plan
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
Significant Other Observable Inputs (Level 2) \| Foreign Pension Plans \| Government \| Pension Plan
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
Significant Other Observable Inputs (Level 2) \| Foreign Pension Plans \| Corporate bonds \| Pension Plan
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	21.4	17.5
Significant Other Observable Inputs (Level 2) \| Foreign Pension Plans \| Hedge funds \| Pension Plan
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets		0
Significant Other Observable Inputs (Level 2) \| Foreign Pension Plans \| Commingled funds – multi-strategy \| Pension Plan
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
Significant Other Observable Inputs (Level 2) \| Foreign Pension Plans \| Insurance contracts \| Pension Plan
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	27.1	23.8
Investments Measured at NAV \| United States \| Pension Plan
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	607	468.1
Investments Measured at NAV \| United States \| Cash and cash equivalents \| Pension Plan
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
Investments Measured at NAV \| United States \| Domestic \| Pension Plan
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
Investments Measured at NAV \| United States \| Foreign \| Pension Plan
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
Investments Measured at NAV \| United States \| Commingled funds – domestic \| Pension Plan
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	263.6	200.6
Investments Measured at NAV \| United States \| Commingled funds – foreign \| Pension Plan
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	209.4	128.4
Investments Measured at NAV \| United States \| Private equity partnerships \| Pension Plan
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	17.4	22.7
Investments Measured at NAV \| United States \| Government \| Pension Plan
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
Investments Measured at NAV \| United States \| Corporate bonds \| Pension Plan
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
Investments Measured at NAV \| United States \| Real estate and other real assets \| Pension Plan
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	8.8	11.9
Investments Measured at NAV \| United States \| Hedge funds \| Pension Plan
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	107.8	104.5
Investments Measured at NAV \| Foreign Pension Plans \| Pension Plan
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	135.5	115.8
Investments Measured at NAV \| Foreign Pension Plans \| Cash and cash equivalents \| Pension Plan
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
Investments Measured at NAV \| Foreign Pension Plans \| Government \| Pension Plan
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
Investments Measured at NAV \| Foreign Pension Plans \| Corporate bonds \| Pension Plan
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
Investments Measured at NAV \| Foreign Pension Plans \| Hedge funds \| Pension Plan
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets		14.3
Investments Measured at NAV \| Foreign Pension Plans \| Commingled funds – multi-strategy \| Pension Plan
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	135.5	101.5
Investments Measured at NAV \| Foreign Pension Plans \| Insurance contracts \| Pension Plan
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	$ 0	$ 0

Postretirement Plans - Summary

Postretirement Plans - Summary of Change in Benefit Obligation (Detail) - U.S. Postretirement Health Care Plans - USD ($) $ in Millions	12 Months Ended
	Dec. 28, 2019	Dec. 29, 2018	Dec. 30, 2017
Defined Benefit Plan, Change in Benefit Obligation [Roll Forward]
Benefit obligation at beginning of year	$ 46.8	$ 52.5
Interest cost	1.9	1.8	$ 2.1
Plan participant contributions	0.3	0.3
Benefits paid	(4.2)	(4.5)
Actuarial (gain) loss	4.4	(3.3)
Benefit obligation at end of year	$ 49.2	$ 46.8	$ 52.5

Postretirement Plans - Summar_2

Postretirement Plans - Summary of Change in Fair Value of Plan Assets (Detail) - U.S. Postretirement Health Care Plans - USD ($) $ in Millions	12 Months Ended
	Dec. 28, 2019	Dec. 29, 2018
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Fair value of plan assets at beginning of year	$ 12.1	$ 13.4
Actual (loss) gain on plan assets	1.5	(0.2)
Employer contributions	3.1	3.1
Plan participant contributions	0.3	0.3
Benefits paid	(4.2)	(4.5)
Fair value of plan assets at end of year	12.8	12.1
Unfunded status at end of year	$ (36.4)	$ (34.7)

Postretirement Plans - Summar_3

Postretirement Plans - Summary of Amounts Recognized in Consolidated Balance Sheets (Detail) - USD ($) $ in Millions	Dec. 28, 2019	Dec. 29, 2018
Defined Benefit Plan Disclosure [Line Items]
Retiree health care benefits	$ (122.1)	$ (171.3)
U.S. Postretirement Health Care Plans
Defined Benefit Plan Disclosure [Line Items]
Accrued benefits	(2.8)	(2.9)
Retiree health care benefits	(33.6)	(31.8)
Net liability	$ (36.4)	$ (34.7)

Postretirement Plans - Summar_4

Postretirement Plans - Summary of Amounts Included in Accumulated Other Comprehensive Income on Accompanying Consolidated Balance Sheets (Detail) - U.S. Postretirement Health Care Plans - USD ($) $ in Millions	Dec. 28, 2019	Dec. 29, 2018
Defined Benefit Plan Disclosure [Line Items]
Net gain, net of tax of $1.1 million and $3.1 million, respectively	$ 3.2	$ 5.6
Accumulated Defined Benefit Plans Adjustment, Net Gain (Loss) Attributable to Parent
Defined Benefit Plan Disclosure [Line Items]
AOCI, tax	$ 1.1	$ 3.1

Postretirement Plans - Summar_5

Postretirement Plans - Summary of Components of Net Periodic Benefit Costs and Other Amounts Recognized in Other Comprehensive Income (Loss) (Detail) - U.S. Postretirement Health Care Plans - USD ($) $ in Millions	12 Months Ended
	Dec. 28, 2019	Dec. 29, 2018	Dec. 30, 2017
Net periodic benefit cost:
Interest cost	$ 1.9	$ 1.8	$ 2.1
Expected return on plan assets	(0.7)	(0.8)	(0.8)
Amortization of unrecognized gain	(0.8)	(0.4)	(0.3)
Net periodic benefit cost	0.4	0.6	1
Changes in benefit obligations recognized in OCI, net of tax:
Net (gain) loss	$ 2.4	$ (1.4)	$ 0.6

Postretirement Plans - Narratve

Postretirement Plans - Narratve (Detail)	12 Months Ended
Postretirement Plans - Narratve (Detail)	Dec. 28, 2019
Defined Benefit Plan Disclosure [Line Items]
Health care cost trend rate, pre-65	5.60%
Health care cost trend rate, post-65	6.10%
U.S. Postretirement Health Care Plans
Defined Benefit Plan Disclosure [Line Items]
Health care cost trend rate, 2039 and thereafter	4.50%
Expected long-term rate of return on plan assets	5.40%

Postretirement Plans - Summar_6

Postretirement Plans - Summary of Weighted-Average Discount Rates Used to Determine Postretirement Health Care Expenses (Detail)	12 Months Ended
	Dec. 28, 2019	Dec. 29, 2018	Dec. 30, 2017
U.S. Postretirement Health Care Plans
Defined Benefit Plan Disclosure [Line Items]
Discount rate	4.20%	3.60%	4.10%

Postretirement Plans - Summar_7

Postretirement Plans - Summary of Weighted-Average Assumptions Used to Determine Accumulated Benefit Obligation (Detail)	Dec. 28, 2019	Dec. 29, 2018
U.S. Postretirement Health Care Plans
Defined Benefit Plan Disclosure [Line Items]
Discount rate	3.10%	4.20%

Postretirement Plans - Summar_8

Postretirement Plans - Summary of Expected Benefit Payments (Detail) - U.S. Postretirement Health Care Plans $ in Millions	Dec. 28, 2019USD ($)
Defined Benefit Plan Disclosure [Line Items]
2020	$ 3.7
2021	3.8
2022	3.8
2023	3.9
2024	4
2025-2029	$ 20.3

Postretirement Plans - Summar_9

Postretirement Plans - Summary of Target Allocation and Weighted-Average Asset Allocation by Asset Category and Fair Value of Plan Assets (Detail) - U.S. Postretirement Health Care Plans - USD ($) $ in Millions	Dec. 28, 2019	Dec. 29, 2018	Dec. 30, 2017
Defined Benefit Plan Disclosure [Line Items]
Target allocation	100.00%
Actual weighted-average asset allocation	100.00%	100.00%
Fair value of plan assets	$ 12.8	$ 12.1	$ 13.4
Debt securities and cash and cash equivalents
Defined Benefit Plan Disclosure [Line Items]
Target allocation	46.00%
Actual weighted-average asset allocation	51.00%	56.00%
Equity securities
Defined Benefit Plan Disclosure [Line Items]
Target allocation	29.00%
Actual weighted-average asset allocation	31.00%	26.00%
Fair value of plan assets	$ 4	$ 3.1
Hedge funds
Defined Benefit Plan Disclosure [Line Items]
Target allocation	25.00%
Actual weighted-average asset allocation	18.00%	18.00%
Fair value of plan assets	$ 2.3	$ 2.2

Postretirement Plans - Summa_10

Postretirement Plans - Summary of Fair Value by Asset Category and Level Within Fair Value Hierarchy (Detail) - U.S. Postretirement Health Care Plans - USD ($) $ in Millions	Dec. 28, 2019	Dec. 29, 2018	Dec. 30, 2017
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	$ 12.8	$ 12.1	$ 13.4
Cash and cash equivalents
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0.5	1.3
Debt securities
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	6	5.5
Equity securities
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	4	3.1
Hedge funds
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	2.3	2.2
Quoted Prices for Identical Assets (Level 1)
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	6.5	6.8
Quoted Prices for Identical Assets (Level 1) \| Cash and cash equivalents
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0.5	1.3
Quoted Prices for Identical Assets (Level 1) \| Debt securities
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	6	5.5
Quoted Prices for Identical Assets (Level 1) \| Equity securities
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
Quoted Prices for Identical Assets (Level 1) \| Hedge funds
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
Investments Measured at NAV
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	6.3	5.3
Investments Measured at NAV \| Cash and cash equivalents
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
Investments Measured at NAV \| Debt securities
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
Investments Measured at NAV \| Equity securities
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	4	3.1
Investments Measured at NAV \| Hedge funds
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	$ 2.3	$ 2.2

Stock-Based Compensation and _3

Stock-Based Compensation and Other Stock Plans - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 28, 2019	Dec. 29, 2018	Dec. 30, 2017
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Net stock-based compensation expense	$ 23.8	$ 27.2	$ 30.3
Cash received from stock purchase and option plan exercises	51.4	55.5	46.2
Tax benefit realized from exercise and vesting of share-based payment arrangements	$ 9.6	$ 14.8	$ 20.9
2011 Incentive Stock and Awards Plan
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Number of shares available for future grants (in shares)	2,024,642

Stock-Based Compensation and _4

Stock-Based Compensation and Other Stock Plans - Stock Options Narrative (Details) - Stock Option - USD ($) $ / shares in Units, $ in Millions	12 Months Ended
	Dec. 28, 2019	Dec. 29, 2018	Dec. 30, 2017
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Weighted average contractual term (in years)	10 years
Weighted-average grant date fair value granted (in dollars per share)	$ 29.98	$ 30.21	$ 31.13
Intrinsic value of stock exercised	$ 29.9	$ 43.8	$ 33.3
Fair value of stock vested	15.7	$ 16	$ 14
Unrecognized compensation cost related to non-vested award	$ 15.6
Cost expected to be recognized over weighted-average period (in years)	1 year 4 months 24 days

Stock-Based Compensation and _5

Stock-Based Compensation and Other Stock Plans - Stock Options, Summary of Weighted-Average Assumptions of Fair Value Granted Using Black-Scholes Valuation Model (Details) - Stock Option	12 Months Ended
	Dec. 28, 2019	Dec. 29, 2018	Dec. 30, 2017
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Expected term of option (in years)	5 years 6 months 10 days	5 years 4 months 6 days	5 years 1 month 24 days
Expected volatility factor	21.30%	20.08%	22.01%
Expected dividend yield	1.79%	1.68%	1.63%
Risk-free interest rate	2.54%	2.71%	1.78%

Stock-Based Compensation and _6

Stock-Based Compensation and Other Stock Plans - Summary of Changes in Stock Options (Details) - Stock Option $ / shares in Units, shares in Thousands, $ in Millions	12 Months Ended
	Dec. 28, 2019USD ($)$ / sharesshares
Share-based Compensation Arrangement by Share-based Payment Award, Options, Nonvested, Number of Shares [Roll Forward]
Outstanding at beginning of year (in shares) \| shares	3,130
Granted (in shares) \| shares	462
Exercised (in shares) \| shares	(422)
Forfeited or expired (in shares) \| shares	(56)
Outstanding at end of year (in shares) \| shares	3,114
Exercisable at end of year (in shares) \| shares	2,173
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward]
Exercise price per share, outstanding at beginning of year (in dollars per share) \| $ / shares	$ 127.57
Exercise price per share, granted (in dollars per share) \| $ / shares	155.93
Exercise price per share, exercised (in dollars per share) \| $ / shares	94.95
Exercise price per share, forfeited or expired (in dollars per share) \| $ / shares	161.10
Exercise price per share, outstanding at end of year (in dollars per share) \| $ / shares	135.60
Exercise price per share, exercisable at end of year (in dollars per share) \| $ / shares	$ 125
Remaining contractual term, outstanding at end of year (in years)	6 years 1 month 6 days
Remaining contractual term, exercisable at end of year (in years)	5 years
Aggregate intrinsic value, outstanding at end of year \| $	$ 104.6
Aggregate intrinsic value, exercisable at end of year \| $	$ 96

Stock-Based Compensation and _7

Stock-Based Compensation and Other Stock Plans - Performance Awards Narrative (Details) - USD ($) $ / shares in Units, $ in Millions	12 Months Ended
	Dec. 28, 2019	Dec. 29, 2018	Dec. 30, 2017
Performance Awards
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Weighted average contractual term (in years)	3 years
Maximum stock percentage to be awarded	100.00%
Performance period for awards granted (in years)	3 years
Weighted-average grant date fair value granted (in dollars per share)	$ 155.92	$ 161.18	$ 168.70
Shares vested (in shares)	21,183	32,154	50,316
Performance awards shares paid out	32,114	50,182	60,980
Unrecognized compensation cost related to non-vested award	$ 7.3
Cost expected to be recognized over weighted-average period (in years)	1 year 7 months 6 days
Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Performance period for awards granted (in years)	1 year
Awards granted vesting period (in years)	2 years
Shares granted (in shares)	0	33,170	13,648

Stock-Based Compensation and _8

Stock-Based Compensation and Other Stock Plans - Summary of Changes in Non-Vested Performance Awards (Details) - Nonvested Performance Shares shares in Thousands	12 Months Ended
	Dec. 28, 2019$ / sharesshares
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Beginning of year (in shares) \| shares	120
Shares granted (in shares) \| shares	84
Shares vested (in shares) \| shares	(35)
Share cancellations and other (in shares) \| shares	(71)
End of year (in shares) \| shares	98
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Outstanding [Roll Forward]
Fair value price per share, at beginning of year (in dollars per share) \| $ / shares	$ 164
Fair value price per share, granted (in dollars per share) \| $ / shares	155.92
Fair value price per share, vested (in dollars per share) \| $ / shares	168.47
Fair value price per share, cancellations and other (in dollars per share) \| $ / shares	159.21
Fair value price per share, at end of year (in dollars per share) \| $ / shares	$ 158.94

Stock-Based Compensation and _9

Stock-Based Compensation and Other Stock Plans - Stock Appreciation Rights Narrative (Details) - USD ($) $ / shares in Units, $ in Millions	12 Months Ended
	Dec. 28, 2019	Dec. 29, 2018	Dec. 30, 2017
Stock-Settled SARs
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Weighted-average grant date fair value granted (in dollars per share)	$ 26.45	$ 24.71	$ 24.13
Intrinsic value of stock exercised	$ 0.1	$ 1.8	$ 0.9
Fair value of stock vested	2.1	2.2	2.1
Unrecognized compensation cost related to non-vested award	$ 2.6
Cost expected to be recognized over weighted-average period (in years)	1 year 6 months
Cash-Settled Stock Appreciation Rights
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Weighted average contractual term (in years)	10 years
Weighted-average grant date fair value granted (in dollars per share)	$ 29.94
Intrinsic value of stock exercised	$ 1.2	3.4	1.6
Fair value of stock vested	0.1	$ 0.1	$ 0.2
Unrecognized compensation cost related to non-vested award	$ 0.1
Cost expected to be recognized over weighted-average period (in years)	1 year 6 months

Stock-Based Compensation and_10

Stock-Based Compensation and Other Stock Plans - Stock-Settled SARs, Summary of Weighted-Average Assumptions of Fair Value Granted Using Black-Scholes Valuation Model (Details) - Stock-Settled SARs	12 Months Ended
	Dec. 28, 2019	Dec. 29, 2018	Dec. 30, 2017
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Expected term of option (in years)	3 years 7 months 24 days	3 years 6 months 29 days	3 years 11 months 26 days
Expected volatility factor	22.60%	20.08%	19.39%
Expected dividend yield	1.81%	1.63%	1.46%
Risk-free interest rate	2.48%	2.40%	1.55%

Stock-Based Compensation and_11

Stock-Based Compensation and Other Stock Plans - Summary of Changes in Stock-Settled SARs (Details) - Stock-Settled SARs $ / shares in Units, shares in Thousands, $ in Millions	12 Months Ended
	Dec. 28, 2019USD ($)$ / sharesshares
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Beginning of year (in shares) \| shares	372
Shares granted (in shares) \| shares	92
Shares exercised (in shares) \| shares	(2)
Shares forfeited or expired (in shares) \| shares	(12)
End of year (in shares) \| shares	450
Shares, exercisable at end of year (in shares) \| shares	270
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Outstanding [Roll Forward]
Exercise price per share, outstanding at beginning of year (in dollars per share) \| $ / shares	$ 147.41
Exercise price per share, granted (in dollars per share) \| $ / shares	155.95
Exercise price per share, exercised (in dollars per share) \| $ / shares	119.43
Exercise price per share, forfeited or expired (in dollars per share) \| $ / shares	150.54
Exercise price per share, outstanding at end of year (in dollars per share) \| $ / shares	149.18
Exercise price per share, exercisable at end of year (in dollars per share) \| $ / shares	$ 142.09
Remaining contractual term, outstanding at end of year (in years)	6 years 10 months 24 days
Remaining contractual term, exercisable at end of year (in years)	5 years 10 months 24 days
Aggregate intrinsic value, outstanding at end of year \| $	$ 9
Aggregate intrinsic value, exercisable at end of year \| $	$ 7.3

Stock-Based Compensation and_12

Stock-Based Compensation and Other Stock Plans - Cash-Settled SARs, Summary of Weighted-Average Assumptions of Fair Value Granted Using Black-Scholes Valuation Model (Details) - Cash-Settled Stock Appreciation Rights	12 Months Ended
	Dec. 28, 2019	Dec. 29, 2018	Dec. 30, 2017
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Expected term of option (in years)	2 years 10 months 13 days	2 years 9 months 3 days	3 years 1 month 2 days
Expected volatility factor	23.33%	21.96%	19.93%
Expected dividend yield	2.02%	1.75%	1.59%
Risk-free interest rate	1.60%	2.50%	1.98%

Stock-Based Compensation and_13

Stock-Based Compensation and Other Stock Plans - Summary of Changes in Non-Vested Cash-Settled SARs (Details) - Cash-Settled Stock Appreciation Rights shares in Thousands	12 Months Ended
	Dec. 28, 2019$ / sharesshares
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Beginning of year (in shares) \| shares	3
Shares granted (in shares) \| shares	1
Shares vested (in shares) \| shares	(2)
End of year (in shares) \| shares	2
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Outstanding [Roll Forward]
Fair value price per share, at beginning of year (in dollars per share) \| $ / shares	$ 14.89
Fair value price per share, granted (in dollars per share) \| $ / shares	29.94
Fair value price per share, vested (in dollars per share) \| $ / shares	28.68
Fair value price per share, at end of year (in dollars per share) \| $ / shares	$ 25.96

Stock-Based Compensation and_14

Stock-Based Compensation and Other Stock Plans - Other Stock Plans Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 28, 2019	Dec. 29, 2018	Dec. 30, 2017
Directors' Fee Plan
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Percentage of non-employee directors fee	100.00%
Number of shares issued (in shares)	1,784	1,727	1,800
Deferred shares received (in shares)	1,374	1,315	1,312
Number of shares reserved for issuance (in shares)	184,146
Non-employee Directors \| Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Shares granted (in shares)	7,605	6,975	6,966
Vesting period	1 year
Employees Stock Purchase Plan
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Number of shares issued (in shares)	25,820	22,794	26,963
Number of shares reserved for issuance (in shares)	704,986
Employee contributions for purchase of common stock	$ 2.2
Stock based compensation expense (benefit)	$ 0.1	$ 0.3	$ 0.1
Franchisee Stock Purchase Plan
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Number of shares issued (in shares)	49,921	46,704	47,314
Number of shares reserved for issuance (in shares)	469,530
Stock based compensation expense (benefit)	$ 0.8	$ 0.6	$ 0.2
Franchisee contributions for purchase of common stock	$ 4.9

Capital Stock - Narratve (Detai

Capital Stock - Narratve (Detail) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended								12 Months Ended
	Dec. 28, 2019	Sep. 28, 2019	Jun. 29, 2019	Mar. 30, 2019	Dec. 29, 2018	Sep. 29, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 28, 2019	Dec. 29, 2018	Dec. 30, 2017	Mar. 09, 2020
Dividends Payable [Line Items]
Shares repurchased (in shares)									1,495,000	1,769,000	1,820,000
Availability of additional repurchase	$ 359.6								$ 359.6
Cash dividends paid									$ 216.6	$ 192	$ 169.4
Cash dividends paid per share (in dollars per share)	$ 1.08	$ 0.95	$ 0.95	$ 0.95	$ 0.95	$ 0.82	$ 0.82	$ 0.82	$ 3.93	$ 3.41	$ 2.95
Subsequent Event
Dividends Payable [Line Items]
Dividends payable amount (in dollars per share)												$ 0

Commitments and Contingencies -

Commitments and Contingencies - Summary of Product Warranty Accrual Activity (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 28, 2019	Dec. 29, 2018	Dec. 30, 2017
Movement in Standard Product Warranty Accrual [Roll Forward]
Beginning of year	$ 17.1	$ 17.2	$ 16
Additions	16	14.9	15.2
Usage	(15.8)	(15)	(14)
End of year	$ 17.3	$ 17.1	$ 17.2

Commitments and Contingencies_2

Commitments and Contingencies - Narratve (Detail) $ in Millions	12 Months Ended
	Dec. 28, 2019USD ($)Employees	Dec. 29, 2018USD ($)
Commitments And Contingencies [Line Items]
Collective bargaining agreements expiration	5 years
Benefit recorded related to settlement \| $	$ 11.6
Workforce Subject to Collective Bargaining Arrangements
Commitments And Contingencies [Line Items]
Number of employees covered under collective bargaining agreements	2,650
Percentage of employees covered under collective bargaining agreements	21.00%
Workforce Subject to Collective Bargaining Agreements Expiring in 2020
Commitments And Contingencies [Line Items]
Number of employees covered under collective bargaining agreements	1,825
Workforce Subject to Collective Bargaining Arrangements Expiring in 2021
Commitments And Contingencies [Line Items]
Number of employees covered under collective bargaining agreements	650
Workforce Subject to Collective Bargaining Arrangements Expiring in 2022
Commitments And Contingencies [Line Items]
Number of employees covered under collective bargaining agreements	175
Workforce Subject to Collective Bargaining Arrangements Expiring in 2023
Commitments And Contingencies [Line Items]
Number of employees covered under collective bargaining agreements	0
Workforce Subject to Collective Bargaining Arrangements Expiring in 2024
Commitments And Contingencies [Line Items]
Number of employees covered under collective bargaining agreements	0
Judgment In Patent Related Litigation Matter
Commitments And Contingencies [Line Items]
Loss contingency accrual \| $		$ 30.9

Leases - Effects of New Account

Leases - Effects of New Accounting Pronouncement (Details) - USD ($) $ in Millions	Dec. 28, 2019	Dec. 30, 2018	Dec. 29, 2018
Assets
Property and equipment - net	$ 7.7	$ 7.8	$ 7.8
Operating lease right-of-use assets	55.6	60.5
Current:
Other accrued liabilities	2.8	1.2	1.2
Operating lease liability	19.5	20.2
Non-current:
Other long-term liabilities	10	6.6	$ 6.6
Operating lease liabilities	$ 37.5	40.4
Accounting Standards Update 2016-02 [Member]
Assets
Property and equipment - net		0
Operating lease right-of-use assets		60.5
Current:
Other accrued liabilities		0
Operating lease liability		20.2
Non-current:
Other long-term liabilities		0
Operating lease liabilities		$ 40.4

Leases - Narrative (Details)

Leases - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
Leases - Narrative (Details) - USD ($) $ in Millions	Dec. 28, 2019	Dec. 29, 2018	Dec. 30, 2017
Lessee, Lease, Description [Line Items]
Rent expense		$ 33	$ 35.2
Sales-type lease total future minimum lease payments	$ 365.2
Sales-type lease unearned finance charges	$ 67.5
Minimum
Lessee, Lease, Description [Line Items]
Operating and finance leases contract terms	1 year
Maximum
Lessee, Lease, Description [Line Items]
Operating and finance leases contract terms	20 years
Finance Receivables
Lessee, Lease, Description [Line Items]
Sales-type lease total future minimum lease payments	$ 97.5	93.3
Sales-type lease unearned finance charges	$ 19.9	18.1
Sales-type lease payment terms	5 years
Contract Receivable
Lessee, Lease, Description [Line Items]
Sales-type lease total future minimum lease payments	$ 267.7	254.2
Sales-type lease unearned finance charges	$ 47.6	$ 46.2
Sales-type lease payment terms	7 years

Leases - Lease Cost (Details)

Leases - Lease Cost (Details) $ in Millions	12 Months Ended
Leases - Lease Cost (Details) $ in Millions	Dec. 28, 2019USD ($)
Finance lease costs:
Amortization of ROU assets	$ 1.5
Interest on lease liabilities	0.5
Operating lease costs	25.1
Total lease costs	$ 27.1

Leases - Supplemental Cash Flow

Leases - Supplemental Cash Flow Information (Details) $ in Millions	12 Months Ended
	Dec. 28, 2019USD ($)
Cash paid for amounts included in the measurement of lease liabilities:
Financing cash flows from finance leases	$ 2.8
Operating cash flows from finance leases	0.5
Operating cash flows from operating leases	23.5
ROU assets obtained in exchange for new lease obligations:
Finance lease liabilities	1.4
Operating lease liabilities	$ 12.5

Leases - Supplemental Balance S

Leases - Supplemental Balance Sheet Information (Details) - USD ($) $ in Millions	Dec. 28, 2019	Dec. 30, 2018	Dec. 29, 2018
Finance leases:
Property and equipment - gross	$ 9.2
Accumulated depreciation and amortization	(1.5)
Property and equipment - net	7.7	$ 7.8	$ 7.8
Other accrued liabilities	2.8	1.2	1.2
Other long-term liabilities	10	6.6	$ 6.6
Total finance lease liabilities	12.8
Operating Lease Right-Of-Use Asset [Abstract]
Operating lease right-of-use assets	55.6	60.5
Operating lease liability	19.5	20.2
Operating lease liabilities	37.5	$ 40.4
Total operating lease liabilities	$ 57

Leases - Weighted Average Terms

Leases - Weighted Average Terms and Discount Rates (Details)	Dec. 28, 2019
Weighted-average remaining lease terms:
Finance leases	4 years 6 months
Operating leases	3 years 8 months 12 days
Weighted-average discount rates:
Finance leases	3.40%
Operating leases	2.80%

Leases - Maturities of Lease Li

Leases - Maturities of Lease Liabilities (Details) - USD ($) $ in Millions	Dec. 28, 2019	Dec. 29, 2018
Operating Leases
2020	$ 20.6
2021	15.6
2022	10.8
2023	6.2
2024	4.1
2025 and thereafter	2.7
Total lease payments	60
Less: amount representing interest	(3)
Total lease liabilities	57
Finance Leases
2020	3.2
2021	3
2022	2.8
2023	2.6
2024	2
2025 and thereafter	0.2
Total lease payments	13.8
Less: amount representing interest	(1)
Total lease liabilities	$ 12.8
Operating Leases
2019		$ 25.6
2020		18.4
2021		13.9
2022		9.8
2023		4.9
2024 and thereafter		4.4
Total minimum lease payments		77
Capital Leases
2019		3.3
2020		3.2
2021		2.9
2022		2.5
2023		2.2
2024 and thereafter		1.9
Total minimum lease payments		16
Less: amount representing interest		(0.9)
Total present value of minimum capital lease payments		$ 15.1

Leases - Capital Lease Under To

Leases - Capital Lease Under Topic 840 Balance Sheet Location (Details) $ in Millions	Dec. 29, 2018USD ($)
Leases [Abstract]
Other accrued liabilities	$ 3
Other long-term liabilities	12.1
Total present value of minimum capital lease payments	$ 15.1

Leases - Future Minimum Lease P

Leases - Future Minimum Lease Payment Receivables (Details) $ in Millions	Dec. 28, 2019USD ($)
Sales-type and Direct Financing Leases, Lease Receivable, Fiscal Year Maturity [Abstract]
2020	$ 119.1
2021	90.7
2022	64.3
2023	44.4
2024	28.4
2025 and thereafter	18.3
Total lease payments	365.2
Less: unearned finance charges	(67.5)
Net investment in leases	$ 297.7

Other Income (Expense) - Net -

Other Income (Expense) - Net - Computation of Other Income (Expense) - Net (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 28, 2019	Dec. 29, 2018	Dec. 30, 2017
Other Income and Expenses [Abstract]
Interest income	$ 1.5	$ 0.6	$ 0.3
Net foreign exchange loss	(3.6)	(3.9)	(7)
Net periodic pension and postretirement benefits (costs) - non-service	10.4	3.7	(0.6)
Settlement of treasury lock	0	13.3	0
Loss on early extinguishment of debt	0	(7.8)	0
Other	0.5	(1.7)	(0.5)
Total other income (expense) – net	$ 8.8	$ 4.2	$ (7.8)

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Income (Loss) - Net Changes in Accumulated OCI by Component, Net of Tax (Detail) - USD ($) $ in Millions	Dec. 30, 2018	Dec. 28, 2019	Dec. 29, 2018	Dec. 30, 2017
Accumulated Other Comprehensive Income (Loss) , Net Changes [Roll Forward]
Beginning balance	$ 3,118.6	$ 3,118.6	$ 2,972.3	$ 2,635.2
Impact of the Tax Act on Accumulated Other Comprehensive Income (ASU No. 2018-02)	45.9
Other comprehensive loss before reclassifications		(16)	(155.2)
Amounts reclassified from Accumulated OCI		16.2	22
Net other comprehensive income (loss)		0.2	(133.2)	169.5
Ending balance	3,118.6	3,430.8	3,118.6	2,972.3
Foreign Currency Translation
Accumulated Other Comprehensive Income (Loss) , Net Changes [Roll Forward]
Beginning balance	(177.9)	(177.9)	(82.5)
Impact of the Tax Act on Accumulated Other Comprehensive Income (ASU No. 2018-02)	0
Other comprehensive loss before reclassifications		(9.5)	(95.4)
Amounts reclassified from Accumulated OCI		0	0
Net other comprehensive income (loss)		(9.5)	(95.4)
Ending balance	(177.9)	(187.4)	(177.9)	(82.5)
Cash Flow Hedges
Accumulated Other Comprehensive Income (Loss) , Net Changes [Roll Forward]
Beginning balance	12.2	12.2	14.5
Impact of the Tax Act on Accumulated Other Comprehensive Income (ASU No. 2018-02)	0
Other comprehensive loss before reclassifications		0	(0.8)
Amounts reclassified from Accumulated OCI		(1.5)	(1.5)
Net other comprehensive income (loss)		(1.5)	(2.3)
Ending balance	12.2	10.7	12.2	14.5
Defined Benefit Pension and Postretirement Plans
Accumulated Other Comprehensive Income (Loss) , Net Changes [Roll Forward]
Beginning balance	(296.5)	(296.5)	(261)
Impact of the Tax Act on Accumulated Other Comprehensive Income (ASU No. 2018-02)	(45.9)
Other comprehensive loss before reclassifications		(6.5)	(59)
Amounts reclassified from Accumulated OCI		17.7	23.5
Net other comprehensive income (loss)		11.2	(35.5)
Ending balance	(342.4)	(331.2)	(296.5)	(261)
AOCI Attributable to Parent
Accumulated Other Comprehensive Income (Loss) , Net Changes [Roll Forward]
Beginning balance	(462.2)	(462.2)	(329)	(498.5)
Impact of the Tax Act on Accumulated Other Comprehensive Income (ASU No. 2018-02)	(45.9)
Net other comprehensive income (loss)		0.2	(133.2)	169.5
Ending balance	$ (508.1)	$ (507.9)	$ (462.2)	$ (329)

Accumulated Other Comprehensi_4

Accumulated Other Comprehensive Income (Loss) - Reclassifications Out of Accumulated OCI (Detail) - USD ($) $ in Millions	3 Months Ended								12 Months Ended
	Dec. 28, 2019	Sep. 28, 2019	Jun. 29, 2019	Mar. 30, 2019	Dec. 29, 2018	Sep. 29, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 28, 2019	Dec. 29, 2018	Dec. 30, 2017
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Interest expense									$ (49)	$ (50.4)	$ (52.4)
Income tax expense									(211.8)	(214.4)	(250.9)
Amortization of net unrecognized losses and prior service credits									8.8	4.2	(7.8)
Net earnings	$ 175	$ 169.2	$ 184.9	$ 182.1	$ 179.3	$ 167.4	$ 182.7	$ 166.8	711.2	696.2	$ 572.2
Reclassification out of AOCI
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Net earnings									(16.2)	(22)
Cash Flow Hedges \| Reclassification out of AOCI
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Interest expense									1.5	1.5
Income tax expense									0	0
Net earnings									1.5	1.5
Defined Benefit Pension and Postretirement Plans \| Reclassification out of AOCI
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Income tax expense									5.8	7.6
Amortization of net unrecognized losses and prior service credits									(23.5)	(31.1)
Net earnings									$ (17.7)	$ (23.5)

Segments - Net Sales by Segment

Segments - Net Sales by Segment (Detail) - USD ($) $ in Millions	3 Months Ended								12 Months Ended
	Dec. 28, 2019	Sep. 28, 2019	Jun. 29, 2019	Mar. 30, 2019	Dec. 29, 2018	Sep. 29, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 28, 2019	Dec. 29, 2018	Dec. 30, 2017
Segment Reporting Information [Line Items]
Net sales									$ 4,067.7	$ 4,070.4	$ 4,000.3
Operating earnings									962.3	956.1	882.1
Interest expense									(49)	(50.4)	(52.4)
Other income (expense) – net									8.8	4.2	(7.8)
Earnings before income taxes and equity earnings									922.1	909.9	821.9
Commercial & Industrial Group
Segment Reporting Information [Line Items]
Net sales									1,345.7	1,343.3
Snap-on Tools Group
Segment Reporting Information [Line Items]
Net sales									1,612.9	1,613.8
Repair Systems & Information Group
Segment Reporting Information [Line Items]
Net sales									1,334.5	1,334.4
Financial Services
Segment Reporting Information [Line Items]
Net sales									337.7	329.7
Operating Segments
Segment Reporting Information [Line Items]
Operating earnings									1,023.1	1,036.2	1,014
Operating Segments \| Commercial & Industrial Group
Segment Reporting Information [Line Items]
Operating earnings									188.7	199.3	186.5
Operating Segments \| Snap-on Tools Group
Segment Reporting Information [Line Items]
Operating earnings									245.8	264.2	274.7
Operating Segments \| Repair Systems & Information Group
Segment Reporting Information [Line Items]
Operating earnings									342.7	342.6	335.3
Operating Segments \| Financial Services
Segment Reporting Information [Line Items]
Operating earnings									245.9	230.1	217.5
Intersegment eliminations
Segment Reporting Information [Line Items]
Net sales									(563.1)	(550.8)
Corporate
Segment Reporting Information [Line Items]
Operating earnings									(60.8)	(80.1)	(131.9)
Product And Services, Excluding Financial Services
Segment Reporting Information [Line Items]
Net sales	$ 955.2	$ 901.8	$ 951.3	$ 921.7	$ 952.5	$ 898.1	$ 954.6	$ 935.5	3,730	3,740.7	3,686.9
Operating earnings									716.4	726	664.6
Product And Services, Excluding Financial Services \| Commercial & Industrial Group
Segment Reporting Information [Line Items]
Net sales									1,038.2	1,051.6
Product And Services, Excluding Financial Services \| Snap-on Tools Group
Segment Reporting Information [Line Items]
Net sales									1,612.9	1,613.8
Product And Services, Excluding Financial Services \| Repair Systems & Information Group
Segment Reporting Information [Line Items]
Net sales									1,078.9	1,075.3
Product And Services, Excluding Financial Services \| Financial Services
Segment Reporting Information [Line Items]
Net sales									0	0
Product And Services, Excluding Financial Services \| Operating Segments
Segment Reporting Information [Line Items]
Net sales									4,293.1	4,291.5	4,237.3
Product And Services, Excluding Financial Services \| Operating Segments \| Commercial & Industrial Group
Segment Reporting Information [Line Items]
Net sales									1,345.7	1,343.3	1,265
Product And Services, Excluding Financial Services \| Operating Segments \| Snap-on Tools Group
Segment Reporting Information [Line Items]
Net sales									1,612.9	1,613.8	1,625.1
Product And Services, Excluding Financial Services \| Operating Segments \| Repair Systems & Information Group
Segment Reporting Information [Line Items]
Net sales									1,334.5	1,334.4	1,347.2
Product And Services, Excluding Financial Services \| Operating Segments \| Financial Services
Segment Reporting Information [Line Items]
Net sales									0	0
Product And Services, Excluding Financial Services \| Intersegment eliminations
Segment Reporting Information [Line Items]
Net sales									(563.1)	(550.8)	(550.4)
Product And Services, Excluding Financial Services \| Intersegment eliminations \| Commercial & Industrial Group
Segment Reporting Information [Line Items]
Net sales									307.5	291.7
Product And Services, Excluding Financial Services \| Intersegment eliminations \| Snap-on Tools Group
Segment Reporting Information [Line Items]
Net sales									0	0
Product And Services, Excluding Financial Services \| Intersegment eliminations \| Repair Systems & Information Group
Segment Reporting Information [Line Items]
Net sales									255.6	259.1
Product And Services, Excluding Financial Services \| Intersegment eliminations \| Financial Services
Segment Reporting Information [Line Items]
Net sales									0	0
Financial Service
Segment Reporting Information [Line Items]
Net sales	$ 83.9	$ 84.1	$ 84.1	$ 85.6	$ 82.7	$ 82	$ 82	$ 83	337.7	329.7	313.4
Operating earnings									245.9	230.1	$ 217.5
Financial Service \| Commercial & Industrial Group
Segment Reporting Information [Line Items]
Net sales									0	0
Financial Service \| Snap-on Tools Group
Segment Reporting Information [Line Items]
Net sales									0	0
Financial Service \| Repair Systems & Information Group
Segment Reporting Information [Line Items]
Net sales									0	0
Financial Service \| Financial Services
Segment Reporting Information [Line Items]
Net sales									$ 337.7	$ 329.7

Segments - Assets by Segment (D

Segments - Assets by Segment (Detail) - USD ($) $ in Millions	Dec. 28, 2019	Dec. 29, 2018
Segment Reporting Information [Line Items]
Assets	$ 5,693.5	$ 5,373.1
Operating Segments
Segment Reporting Information [Line Items]
Assets	5,452.1	5,186.5
Operating Segments \| Commercial & Industrial Group
Segment Reporting Information [Line Items]
Assets	1,138.8	1,087.9
Operating Segments \| Snap-on Tools Group
Segment Reporting Information [Line Items]
Assets	827.4	752.7
Operating Segments \| Repair Systems & Information Group
Segment Reporting Information [Line Items]
Assets	1,381.9	1,306.3
Operating Segments \| Financial Services
Segment Reporting Information [Line Items]
Assets	2,104	2,039.6
Corporate
Segment Reporting Information [Line Items]
Assets	303.1	249.2
Intersegment eliminations
Segment Reporting Information [Line Items]
Assets	$ (61.7)	$ (62.6)

Segments - Capital Expenditures

Segments - Capital Expenditures, Depreciation and Amortization (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 28, 2019	Dec. 29, 2018	Dec. 30, 2017
Segment Reporting Information [Line Items]
Capital expenditures	$ 99.4	$ 90.9	$ 82
Depreciation and amortization	92.4	94.1	93.2
Operating Segments
Segment Reporting Information [Line Items]
Capital expenditures	96.3	87.7	77.3
Depreciation and amortization	88.9	91	90.3
Operating Segments \| Commercial & Industrial Group
Segment Reporting Information [Line Items]
Capital expenditures	30.1	21.5	22.6
Depreciation and amortization	23.5	23.6	22.8
Operating Segments \| Snap-on Tools Group
Segment Reporting Information [Line Items]
Capital expenditures	42.7	46	40.1
Depreciation and amortization	31.7	29.9	29.1
Operating Segments \| Repair Systems & Information Group
Segment Reporting Information [Line Items]
Capital expenditures	22.7	19.7	13.4
Depreciation and amortization	33	36.7	37.8
Operating Segments \| Financial Services
Segment Reporting Information [Line Items]
Capital expenditures	0.8	0.5	1.2
Depreciation and amortization	0.7	0.8	0.6
Corporate
Segment Reporting Information [Line Items]
Capital expenditures	3.1	3.2	4.7
Depreciation and amortization	$ 3.5	$ 3.1	$ 2.9

Segments - Revenue and Long-Liv

Segments - Revenue and Long-Lived Assets, Geographic Region (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 28, 2019	Dec. 29, 2018	Dec. 30, 2017
Revenues from External Customers and Long-Lived Assets [Line Items]
Net sales	$ 4,067.7	$ 4,070.4	$ 4,000.3
Long-lived assets	1,679.2	1,630.2
United States
Revenues from External Customers and Long-Lived Assets [Line Items]
Net sales	2,794	2,727.9	2,703.3
Long-lived assets	1,112.3	1,091.2
Europe
Revenues from External Customers and Long-Lived Assets [Line Items]
Net sales	730.3	784.7	748.8
Sweden
Revenues from External Customers and Long-Lived Assets [Line Items]
Long-lived assets	218.7	227.4
All other
Revenues from External Customers and Long-Lived Assets [Line Items]
Net sales	543.4	557.8	$ 548.2
Long-lived assets	$ 348.2	$ 311.6

Segments - Products and Service

Segments - Products and Services (Detail) - USD ($) $ in Millions	3 Months Ended								12 Months Ended
	Dec. 28, 2019	Sep. 28, 2019	Jun. 29, 2019	Mar. 30, 2019	Dec. 29, 2018	Sep. 29, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 28, 2019	Dec. 29, 2018	Dec. 30, 2017
Revenue from External Customer [Line Items]
Net sales									$ 4,067.7	$ 4,070.4	$ 4,000.3
Product And Services, Excluding Financial Services
Revenue from External Customer [Line Items]
Net sales	$ 955.2	$ 901.8	$ 951.3	$ 921.7	$ 952.5	$ 898.1	$ 954.6	$ 935.5	3,730	3,740.7	3,686.9
Product And Services, Excluding Financial Services \| Tools
Revenue from External Customer [Line Items]
Net sales									2,017.5	2,021.2	1,946.7
Product And Services, Excluding Financial Services \| Diagnostics, information and management systems
Revenue from External Customer [Line Items]
Net sales									827.5	797.9	800.4
Product And Services, Excluding Financial Services \| Equipment
Revenue from External Customer [Line Items]
Net sales									885	921.6	939.8
Financial Services
Revenue from External Customer [Line Items]
Net sales									$ 337.7	$ 329.7	$ 313.4

Quarterly Data - Schedule of Qu

Quarterly Data - Schedule of Quarterly Data (unaudited) (Detail) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended								12 Months Ended
	Dec. 28, 2019	Sep. 28, 2019	Jun. 29, 2019	Mar. 30, 2019	Dec. 29, 2018	Sep. 29, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 28, 2019	Dec. 29, 2018	Dec. 30, 2017
Condensed Income Statements, Captions [Line Items]
Net sales									$ 4,067.7	$ 4,070.4	$ 4,000.3
Net earnings	$ 175	$ 169.2	$ 184.9	$ 182.1	$ 179.3	$ 167.4	$ 182.7	$ 166.8	711.2	696.2	572.2
Net earnings attributable to Snap-on Incorporated	$ 170.6	$ 164.6	$ 180.4	$ 177.9	$ 175	$ 163.2	$ 178.7	$ 163	$ 693.5	$ 679.9	$ 557.7
Earnings per share - basic (in dollars per share)	$ 3.12	$ 2.99	$ 3.27	$ 3.21	$ 3.14	$ 2.90	$ 3.17	$ 2.87	$ 12.59	$ 12.08	$ 9.72
Earnings per share - diluted (in dollars per share)	3.08	2.96	3.22	3.16	3.09	2.85	3.12	2.82	12.41	11.87	9.52
Cash dividends paid per share (in dollars per share)	$ 1.08	$ 0.95	$ 0.95	$ 0.95	$ 0.95	$ 0.82	$ 0.82	$ 0.82	$ 3.93	$ 3.41	$ 2.95
Product And Services, Excluding Financial Services
Condensed Income Statements, Captions [Line Items]
Net sales	$ 955.2	$ 901.8	$ 951.3	$ 921.7	$ 952.5	$ 898.1	$ 954.6	$ 935.5	$ 3,730	$ 3,740.7	$ 3,686.9
Gross profit	450.5	448.1	473.8	471.6	457.4	453.9	487.1	471.6	1,844	1,870	1,825.9
Financial services expenses									(1,886)	(1,870.7)	(1,861)
Financial Service
Condensed Income Statements, Captions [Line Items]
Net sales	83.9	84.1	84.1	85.6	82.7	82	82	83	337.7	329.7	313.4
Financial services expenses	$ (21.7)	$ (23.1)	$ (23.5)	$ (23.5)	$ (26.6)	$ (22.7)	$ (24.2)	$ (26.1)	$ (91.8)	$ (99.6)	$ (95.9)