Diluted EPS of $5.07, including a $0.16 per
share benefit from a legal payment, compares to $4.89 in Q2
2023;
Operating margin before financial services
of 23.8% compares to 23.3% in Q2 2023;
Sales of $1,179.4 million compares to
$1,191.3 million in Q2 2023
Snap-on Incorporated (NYSE: SNA), a leading global innovator,
manufacturer and marketer of tools, equipment, diagnostics, repair
information and systems solutions for professional users performing
critical tasks, today announced operating results for the second
quarter of 2024.
- Net sales of $1,179.4 million in the second quarter of 2024
represented a decrease of $11.9 million, or 1.0%, from 2023 levels,
reflecting a $13.5 million, or 1.1%, organic sales decline and $5.7
million of unfavorable foreign currency translation, partially
offset by $7.3 million of acquisition-related sales.
- Operating earnings before financial services for the quarter of
$280.3 million compared to $277.0 million in 2023. As a percentage
of net sales, operating earnings before financial services were
23.8% in the second quarter compared to 23.3% last year.
- Financial services revenue in the quarter of $100.5 million
compared to $93.4 million in 2023; financial services operating
earnings of $70.2 million compared to $66.9 million last year.
- Consolidated operating earnings for the quarter of $350.5
million, or 27.4% of revenues (net sales plus financial services
revenue), compared to $343.9 million, or 26.8% of revenues, last
year.
- The second quarter effective income tax rate was 22.6% in 2024
and 22.9% in 2023.
- Net earnings in the quarter of $271.2 million, or $5.07 per
diluted share, compared to net earnings of $264.0 million, or $4.89
per diluted share, a year ago.
- In the quarter, operating earnings before financial services
and consolidated operating earnings included an $11.2 million
benefit for the final payments received associated with a legal
matter (the “legal payments”); net earnings included an $8.7
million, or $0.16 per diluted share, after-tax benefit from the
legal payments.
See “Non-GAAP Measures” below for a definition of, and further
explanation about, organic sales.
“While the general uncertainty continues, we’re encouraged by
our second quarter 2024 results,” said Nick Pinchuk, Snap-on
chairman and chief executive officer. “There have been challenges
but, at the same time, there have been substantial opportunities
along our runways for growth. And, we’ve taken direct advantage,
producing positive contributions to our way forward, as clearly
demonstrated by our ongoing progress with customers in critical
industries and with repair shop owners and managers. In our Snap-on
Tools van channel, we remain focused on matching current technician
preferences by introducing new, shorter payback solutions and on
fully supporting our franchisees during this unsettled interlude.
We are also committed to forging ahead, by engaging our Snap-on
Value Creation Processes, driving advancements and improvements,
and we believe those gains, when combined with our possibilities
for growth, will maintain and increase our momentum as we proceed
to the future. Finally, as I’ve said before, the strength of our
corporation is dependent on the experience and capability of
Snap-on people worldwide. I want to thank both our franchisees and
our associates for their valuable efforts on behalf of our company,
for their steadfast dedication to our team, and for their
unwavering belief in our days and years to come.”
Segment Results
Commercial & Industrial Group segment sales of $372.0
million in the quarter compared to $364.2 million last year,
reflecting a $4.3 million, or 1.2%, organic sales gain and $7.3
million of acquisition-related sales, partially offset by $3.8
million of unfavorable foreign currency translation. The organic
increase is primarily due to higher activity with customers in
critical industries, partially offset by declines in both the
segment’s power tool and European-based hand tool operations.
Operating earnings of $62.2 million in the period compared to
$58.1 million in 2023. The operating margin (operating earnings as
a percentage of segment sales) improved 70 basis points to 16.7% in
the quarter from 16.0% last year.
Snap-on Tools Group segment sales of $482.0 million in
the quarter compared to $523.1 million last year, reflecting a
$40.3 million, or 7.7%, organic sales decline and $0.8 million of
unfavorable foreign currency translation. The organic decrease is
due to lower activity in the U.S. operations, partially offset by
higher sales in the segment’s international operations.
Operating earnings of $114.8 million in the period compared to
$137.7 million in 2023. The operating margin of 23.8% compared to
26.3% a year ago.
Repair Systems & Information Group segment sales of
$454.8 million in the quarter compared to $452.0 million last year,
reflecting a $4.3 million, or 1.0%, organic sales increase,
partially offset by $1.5 million of unfavorable foreign currency
translation. The organic gain includes increased activity with OEM
dealerships, partially offset by lower sales of diagnostic and
information products to independent repair shop owners and
managers.
Operating earnings of $113.6 million in the period compared to
$110.4 million in 2023. The operating margin improved 60 basis
points to 25.0% in the quarter from 24.4% last year.
Financial Services operating earnings of $70.2 million on
revenue of $100.5 million in the quarter compared to operating
earnings of $66.9 million on revenue of $93.4 million a year ago.
Originations of $308.1 million in the second quarter represented a
decrease of $18.2 million, or 5.6%, from 2023 levels.
Corporate expenses in the second quarter of $10.3
million, including benefits from the legal payments, compared to
$29.2 million last year.
Outlook
We believe that our markets and our operations possess and have
demonstrated continuing and considerable resilience against the
uncertainties of the current environment. In 2024, Snap-on expects
to make ongoing progress along its defined runways for coherent
growth, leveraging capabilities already demonstrated in the
automotive repair arena and developing and expanding its
professional customer base, not only in automotive repair, but in
adjacent markets, additional geographies and other areas, including
extending in critical industries, where the cost and penalties for
failure can be high. In pursuit of these initiatives, we project
that capital expenditures in 2024 will be in the range of $100
million to $110 million, of which $45.0 million was incurred in the
first six months of the year.
Snap-on currently anticipates that its full-year 2024 effective
income tax rate will be in the range of 22% to 23%.
Conference Call and Webcast on July 18,
2024, at 9:00 a.m. Central Time
A discussion of this release will be webcast on Thursday, July
18, 2024, at 9:00 a.m. Central Time, and a replay will be available
for at least 10 days following the call. To access the webcast,
visit https://www.snapon.com/EN/Investors/Investor-Events and click
on the link to the call. The slide presentation accompanying the
call can be accessed under the Downloads tab in the webcast viewer,
as well as on the Snap-on website at
https://www.snapon.com/EN/Investors/Financial-Information/Quarterly-Earnings.
Non-GAAP Measures
References in this release to “organic sales” refer to sales
from continuing operations calculated in accordance with generally
accepted accounting principles in the United States (“GAAP”),
adjusted to exclude acquisition-related sales and the impact of
foreign currency translation. Management evaluates the company’s
sales performance based on organic sales growth, which primarily
reflects growth from the company’s existing businesses as a result
of increased output, expanded customer base, geographic expansion,
new product development and pricing changes, and excludes sales
contributions from acquired operations the company did not own as
of the comparable prior-year reporting period. Organic sales also
exclude the effects of foreign currency translation as foreign
currency translation is subject to volatility that can obscure
underlying business trends. Management believes that the non-GAAP
financial measure of organic sales is meaningful to investors as it
provides them with useful information to aid in identifying
underlying growth trends in the company’s businesses and
facilitates comparisons of its sales performance with prior
periods.
About Snap-on
Snap-on Incorporated is a leading global innovator,
manufacturer, and marketer of tools, equipment, diagnostics, repair
information and systems solutions for professional users performing
critical tasks including those working in vehicle repair,
aerospace, the military, natural resources, and manufacturing. From
its founding in 1920, Snap-on has been recognized as the mark of
the serious and the outward sign of the pride and dignity working
men and women take in their professions. Products and services are
sold through the company’s network of widely recognized franchisee
vans, as well as through direct and distributor channels, under a
variety of notable brands. The company also provides financing
programs to facilitate the sales of its products and to support its
franchise business. Snap-on, an S&P 500 company, generated
sales of $4.7 billion in 2023, and is headquartered in Kenosha,
Wisconsin.
Forward-looking
Statements
Statements in this news release that are not historical facts,
including statements that (i) are in the future tense; (ii) include
the words “expects,” “anticipates,” “intends,” “approximates,” or
similar words that reference Snap-on or its management; (iii) are
specifically identified as forward-looking; or (iv) describe
Snap-on’s or management’s future outlook, plans, estimates,
objectives or goals, are forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995.
Snap-on cautions the reader that this news release may contain
statements, including earnings projections, that are
forward-looking in nature and were developed by management in good
faith and, accordingly, are subject to risks and uncertainties
regarding Snap-on’s expected results that could cause (and in some
cases have caused) actual results to differ materially from those
described or contemplated in any forward-looking statement. Factors
that may cause the company’s actual results to differ materially
from those contained in the forward-looking statements include
those found in the company’s reports filed with the Securities and
Exchange Commission, including the information under the “Safe
Harbor” and “Risk Factors” headings in its Annual Report on Form
10-K for the fiscal year ended December 30, 2023, which are
incorporated herein by reference. Snap-on disclaims any
responsibility to update any forward-looking statement provided in
this news release, except as required by law.
SNAP-ON INCORPORATED
Condensed Consolidated
Statements of Earnings
(Amounts in millions, except
per share data)
(unaudited)
Three Months Ended
Six Months Ended
June 29,
July 1,
June 29,
July 1,
2024
2023
2024
2023
Net sales
$
1,179.4
$
1,191.3
$
2,361.7
$
2,374.3
Cost of goods sold
(582.1
)
(587.6
)
(1,167.7
)
(1,181.0
)
Gross profit
597.3
603.7
1,194.0
1,193.3
Operating expenses
(317.0
)
(326.7
)
(642.8
)
(656.5
)
Operating earnings before financial
services
280.3
277.0
551.2
536.8
Financial services revenue
100.5
93.4
200.1
186.0
Financial services expenses
(30.3
)
(26.5
)
(61.6
)
(52.8
)
Operating earnings from financial
services
70.2
66.9
138.5
133.2
Operating earnings
350.5
343.9
689.7
670.0
Interest expense
(12.3
)
(12.6
)
(24.8
)
(25.0
)
Other income (expense) – net
18.7
16.8
36.8
32.0
Earnings before income taxes
356.9
348.1
701.7
677.0
Income tax expense
(79.3
)
(78.2
)
(154.5
)
(152.8
)
Net earnings
277.6
269.9
547.2
524.2
Net earnings attributable to
noncontrolling interests
(6.4
)
(5.9
)
(12.5
)
(11.5
)
Net earnings attributable to Snap-on
Inc.
$
271.2
$
264.0
$
534.7
$
512.7
Net earnings per share attributable to
Snap-on Inc.:
Basic
$
5.15
$
4.98
$
10.15
$
9.67
Diluted
5.07
4.89
9.98
9.49
Weighted-average shares
outstanding:
Basic
52.7
53.0
52.7
53.0
Effect of dilutive securities
0.8
1.0
0.9
1.0
Diluted
53.5
54.0
53.6
54.0
SNAP-ON INCORPORATED
Supplemental Segment
Information
(Amounts in millions)
(unaudited)
Three Months Ended
Six Months Ended
June 29,
July 1,
June 29,
July 1,
2024
2023
2024
2023
Net sales:
Commercial & Industrial Group
$
372.0
$
364.2
$
731.9
$
728.0
Snap-on Tools Group
482.0
523.1
982.1
1,060.1
Repair Systems & Information Group
454.8
452.0
918.6
898.6
Segment net sales
1,308.8
1,339.3
2,632.6
2,686.7
Intersegment eliminations
(129.4
)
(148.0
)
(270.9
)
(312.4
)
Total net sales
1,179.4
1,191.3
2,361.7
2,374.3
Financial Services revenue
100.5
93.4
200.1
186.0
Total revenues
$
1,279.9
$
1,284.7
$
2,561.8
$
2,560.3
Operating earnings:
Commercial & Industrial Group
$
62.2
$
58.1
$
117.6
$
113.9
Snap-on Tools Group
114.8
137.7
232.1
269.4
Repair Systems & Information Group
113.6
110.4
226.5
215.0
Financial Services
70.2
66.9
138.5
133.2
Segment operating earnings
360.8
373.1
714.7
731.5
Corporate
(10.3
)
(29.2
)
(25.0
)
(61.5
)
Operating earnings
350.5
343.9
689.7
670.0
Interest expense
(12.3
)
(12.6
)
(24.8
)
(25.0
)
Other income (expense) – net
18.7
16.8
36.8
32.0
Earnings before income taxes
$
356.9
$
348.1
$
701.7
$
677.0
SNAP-ON INCORPORATED
Condensed Consolidated Balance
Sheets
(Amounts in millions)
(unaudited)
June 29,
December 30,
2024
2023
Assets
Cash and cash equivalents
$
1,232.7
$
1,001.5
Trade and other accounts receivable –
net
783.5
791.3
Finance receivables – net
617.9
594.1
Contract receivables – net
112.0
120.8
Inventories – net
965.0
1,005.9
Prepaid expenses and other current
assets
147.0
138.4
Total current assets
3,858.1
3,652.0
Property and equipment – net
538.7
539.3
Operating lease right-of-use assets
74.9
74.7
Deferred income tax assets
78.9
76.0
Long-term finance receivables – net
1,301.4
1,284.2
Long-term contract receivables – net
417.4
407.9
Goodwill
1,067.9
1,097.4
Other intangible assets – net
274.8
268.9
Pension assets
130.9
130.5
Other long-term assets
16.9
14.0
Total assets
$
7,759.9
$
7,544.9
Liabilities and Equity
Notes payable
$
15.7
$
15.6
Accounts payable
271.1
238.0
Accrued benefits
54.4
64.4
Accrued compensation
74.2
102.9
Franchisee deposits
76.8
73.3
Other accrued liabilities
457.9
447.4
Total current liabilities
950.1
941.6
Long-term debt
1,185.1
1,184.6
Deferred income tax liabilities
84.2
79.2
Retiree health care benefits
20.7
21.8
Pension liabilities
69.3
82.3
Operating lease liabilities
54.8
54.6
Other long-term liabilities
86.8
87.4
Total liabilities
2,451.0
2,451.5
Equity
Shareholders' equity attributable to
Snap-on Inc.
Common stock
67.5
67.5
Additional paid-in capital
542.8
545.5
Retained earnings
7,286.0
6,948.5
Accumulated other comprehensive loss
(504.8
)
(449.5
)
Treasury stock at cost
(2,105.2
)
(2,040.7
)
Total shareholders' equity attributable
to Snap-on Inc.
5,286.3
5,071.3
Noncontrolling interests
22.6
22.1
Total equity
5,308.9
5,093.4
Total liabilities and equity
$
7,759.9
$
7,544.9
SNAP-ON INCORPORATED
Condensed Consolidated
Statements of Cash Flows
(Amounts in millions)
(unaudited)
Three Months Ended
June 29,
July 1,
2024
2023
Operating activities:
Net earnings
$
277.6
$
269.9
Adjustments to reconcile net earnings to
net cash provided (used) by operating activities:
Depreciation
18.2
17.8
Amortization of other intangible
assets
6.4
7.0
Provision for losses on finance
receivables
17.2
13.7
Provision for losses on non-finance
receivables
6.9
3.8
Stock-based compensation expense
6.0
10.2
Deferred income tax benefit
(6.0
)
(9.0
)
Gain on sales of assets
(0.1
)
(0.1
)
Changes in operating assets and
liabilities, net of effects of acquisitions:
Trade and other accounts receivable
27.1
(7.8
)
Contract receivables
0.3
(3.1
)
Inventories
(0.2
)
(0.2
)
Prepaid expenses and other current
assets
(8.4
)
12.5
Accounts payable
14.8
(7.8
)
Accrued and other liabilities
(58.7
)
(36.6
)
Net cash provided by operating
activities
301.1
270.3
Investing activities:
Additions to finance receivables
(256.2
)
(279.2
)
Collections of finance receivables
215.0
210.6
Capital expenditures
(23.2
)
(25.8
)
Disposals of property and equipment
0.5
0.5
Other
3.7
(0.7
)
Net cash used by investing
activities
(60.2
)
(94.6
)
Financing activities:
Net increase (decrease) in other
short-term borrowings
0.8
(0.5
)
Cash dividends paid
(98.0
)
(85.9
)
Purchases of treasury stock
(47.4
)
(94.8
)
Proceeds from stock purchase plans and
stock option exercises
23.4
51.8
Other
(6.7
)
(7.1
)
Net cash used by financing
activities
(127.9
)
(136.5
)
Effect of exchange rate changes on cash
and cash equivalents
(1.3
)
(1.7
)
Increase in cash and cash
equivalents
111.7
37.5
Cash and cash equivalents at beginning of
period
1,121.0
833.8
Cash and cash equivalents at end of
period
$
1,232.7
$
871.3
Supplemental cash flow
disclosures:
Cash paid for interest
$
(8.3
)
$
(8.7
)
Net cash paid for income taxes
(139.0
)
(134.4
)
SNAP-ON INCORPORATED
Condensed Consolidated
Statements of Cash Flows
(Amounts in millions)
(unaudited)
Six Months Ended
June 29,
July 1,
2024
2023
Operating activities:
Net earnings
$
547.2
$
524.2
Adjustments to reconcile net earnings to
net cash provided (used) by operating activities:
Depreciation
36.4
35.8
Amortization of other intangible
assets
12.7
13.9
Provision for losses on finance
receivables
35.4
27.9
Provision for losses on non-finance
receivables
11.8
8.8
Stock-based compensation expense
15.8
20.4
Deferred income tax benefit
(4.4
)
(9.2
)
Gain on sales of assets
(0.3
)
(0.3
)
Changes in operating assets and
liabilities, net of effects of acquisitions:
Trade and other accounts receivable
(20.8
)
(30.7
)
Contract receivables
(3.7
)
(2.9
)
Inventories
21.9
(13.4
)
Prepaid expenses and other current
assets
(11.9
)
14.2
Accounts payable
38.1
(8.3
)
Accrued and other liabilities
(28.4
)
(8.5
)
Net cash provided by operating
activities
649.8
571.9
Investing activities:
Additions to finance receivables
(504.2
)
(536.3
)
Collections of finance receivables
422.8
418.1
Capital expenditures
(45.0
)
(48.8
)
Disposals of property and equipment
1.6
1.0
Other
1.4
(1.5
)
Net cash used by investing
activities
(123.4
)
(167.5
)
Financing activities:
Net increase in other short-term
borrowings
0.4
0.3
Cash dividends paid
(196.2
)
(172.0
)
Purchases of treasury stock
(117.6
)
(182.0
)
Proceeds from stock purchase plans and
stock option exercises
51.7
84.6
Other
(30.4
)
(19.5
)
Net cash used by financing
activities
(292.1
)
(288.6
)
Effect of exchange rate changes on cash
and cash equivalents
(3.1
)
(1.7
)
Increase in cash and cash
equivalents
231.2
114.1
Cash and cash equivalents at beginning of
year
1,001.5
757.2
Cash and cash equivalents at end of
period
$
1,232.7
$
871.3
Supplemental cash flow
disclosures:
Cash paid for interest
$
(22.0
)
$
(22.3
)
Net cash paid for income taxes
(153.7
)
(147.7
)
Non-GAAP Supplemental
Data
The following non-GAAP supplemental data is presented for
informational purposes to provide readers with insight into the
information used by management for assessing the operating
performance of Snap-on Incorporated's ("Snap-on") non-financial
services ("Operations") and Financial Services businesses.
The supplemental Operations data reflects the results of
operations and financial position of Snap-on's tools, diagnostics,
equipment products, software and other non-financial services
operations with Financial Services presented on the equity method.
The supplemental Financial Services data reflects the results of
operations and financial position of Snap-on's U.S. and
international financial services operations. The financing needs of
Financial Services are met through intersegment borrowings and cash
generated from Operations; Financial Services is charged interest
expense on intersegment borrowings at market rates. Income taxes
are charged to Financial Services on the basis of the specific tax
attributes generated by the U.S. and international financial
services businesses. Transactions between the Operations and
Financial Services businesses are eliminated to arrive at the
Condensed Consolidated Financial Statements.
SNAP-ON INCORPORATED
Non-GAAP Supplemental
Consolidating Data - Supplemental Condensed Statements of
Earnings
(Amounts in millions)
(unaudited)
Operations*
Financial Services
Three Months Ended
Three Months Ended
June 29,
July 1,
June 29,
July 1,
2024
2023
2024
2023
Net sales
$
1,179.4
$
1,191.3
$
—
$
—
Cost of goods sold
(582.1
)
(587.6
)
—
—
Gross profit
597.3
603.7
—
—
Operating expenses
(317.0
)
(326.7
)
—
—
Operating earnings before financial
services
280.3
277.0
—
—
Financial services revenue
—
—
100.5
93.4
Financial services expenses
—
—
(30.3
)
(26.5
)
Operating earnings from financial
services
—
—
70.2
66.9
Operating earnings
280.3
277.0
70.2
66.9
Interest expense
(12.3
)
(12.6
)
—
—
Intersegment interest income (expense) –
net
17.1
16.1
(17.1
)
(16.1
)
Other income (expense) – net
18.7
16.7
—
0.1
Earnings before income taxes and equity
earnings
303.8
297.2
53.1
50.9
Income tax expense
(65.0
)
(65.0
)
(14.3
)
(13.2
)
Earnings before equity earnings
238.8
232.2
38.8
37.7
Financial services – net earnings
attributable to Snap-on
38.8
37.7
—
—
Net earnings
277.6
269.9
38.8
37.7
Net earnings attributable to
noncontrolling interests
(6.4
)
(5.9
)
—
—
Net earnings attributable to
Snap-on
$
271.2
$
264.0
$
38.8
$
37.7
* Snap-on with Financial Services
presented on the equity method.
SNAP-ON INCORPORATED
Non-GAAP Supplemental
Consolidating Data - Supplemental Condensed Statements of
Earnings
(Amounts in millions)
(unaudited)
Operations*
Financial Services
Six Months Ended
Six Months Ended
June 29,
July 1,
June 29,
July 1,
2024
2023
2024
2023
Net sales
$
2,361.7
$
2,374.3
$
—
$
—
Cost of goods sold
(1,167.7
)
(1,181.0
)
—
—
Gross profit
1,194.0
1,193.3
—
—
Operating expenses
(642.8
)
(656.5
)
—
—
Operating earnings before financial
services
551.2
536.8
—
—
Financial services revenue
—
—
200.1
186.0
Financial services expenses
—
—
(61.6
)
(52.8
)
Operating earnings from financial
services
—
—
138.5
133.2
Operating earnings
551.2
536.8
138.5
133.2
Interest expense
(24.8
)
(25.0
)
—
—
Intersegment interest income (expense) –
net
33.8
31.8
(33.8
)
(31.8
)
Other income (expense) – net
36.7
31.9
0.1
0.1
Earnings before income taxes and equity
earnings
596.9
575.5
104.8
101.5
Income tax expense
(127.3
)
(126.5
)
(27.2
)
(26.3
)
Earnings before equity earnings
469.6
449.0
77.6
75.2
Financial services – net earnings
attributable to Snap-on
77.6
75.2
—
—
Net earnings
547.2
524.2
77.6
75.2
Net earnings attributable to
noncontrolling interests
(12.5
)
(11.5
)
—
—
Net earnings attributable to
Snap-on
$
534.7
$
512.7
$
77.6
$
75.2
* Snap-on with Financial Services
presented on the equity method.
SNAP-ON INCORPORATED
Non-GAAP Supplemental
Consolidating Data - Supplemental Condensed Balance Sheets
(Amounts in millions)
(unaudited)
Operations*
Financial Services
June 29,
December 30,
June 29,
December 30,
2024
2023
2024
2023
Assets
Cash and cash equivalents
$
1,232.6
$
1,001.3
$
0.1
$
0.2
Intersegment receivables
15.6
15.7
—
—
Trade and other accounts receivable –
net
782.9
790.6
0.6
0.7
Finance receivables – net
—
—
617.9
594.1
Contract receivables – net
4.7
5.5
107.3
115.3
Inventories – net
965.0
1,005.9
—
—
Prepaid expenses and other current
assets
149.7
143.2
10.3
7.4
Total current assets
3,150.5
2,962.2
736.2
717.7
Property and equipment – net
536.2
536.5
2.5
2.8
Operating lease right-of-use assets
74.2
73.8
0.7
0.9
Investment in Financial Services
401.3
393.9
—
—
Deferred income tax assets
52.4
51.3
26.5
24.7
Intersegment long-term notes
receivable
821.5
785.6
—
—
Long-term finance receivables – net
—
—
1,301.4
1,284.2
Long-term contract receivables – net
8.3
8.3
409.1
399.6
Goodwill
1,067.9
1,097.4
—
—
Other intangible assets – net
274.8
268.9
—
—
Pension assets
130.9
130.5
—
—
Other long-term assets
34.4
30.2
0.2
0.1
Total assets
$
6,552.4
$
6,338.6
$
2,476.6
$
2,430.0
Liabilities and Equity
Notes payable
$
15.7
$
15.6
$
—
$
—
Accounts payable
270.2
236.2
0.9
1.8
Intersegment payables
—
—
15.6
15.7
Accrued benefits
54.4
64.4
—
—
Accrued compensation
72.4
99.9
1.8
3.0
Franchisee deposits
76.8
73.3
—
—
Other accrued liabilities
439.6
432.2
31.3
27.4
Total current liabilities
929.1
921.6
49.6
47.9
Long-term debt and intersegment long-term
debt
—
—
2,006.6
1,970.2
Deferred income tax liabilities
84.2
79.2
—
—
Retiree health care benefits
20.7
21.8
—
—
Pension liabilities
69.3
82.3
—
—
Operating lease liabilities
54.5
54.0
0.3
0.6
Other long-term liabilities
85.7
86.3
18.8
17.4
Total liabilities
1,243.5
1,245.2
2,075.3
2,036.1
Total shareholders' equity attributable
to Snap-on
5,286.3
5,071.3
401.3
393.9
Noncontrolling interests
22.6
22.1
—
—
Total equity
5,308.9
5,093.4
401.3
393.9
Total liabilities and equity
$
6,552.4
$
6,338.6
$
2,476.6
$
2,430.0
* Snap-on with Financial Services
presented on the equity method.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20240718661926/en/
For additional information, please visit www.snapon.com or
contact:
Investors: Sara Verbsky 262/656-4869
Media: Samuel Bottum 262/656-5793
Grafico Azioni Snap on (NYSE:SNA)
Storico
Da Feb 2025 a Mar 2025
Grafico Azioni Snap on (NYSE:SNA)
Storico
Da Mar 2024 a Mar 2025
