Diluted EPS of $4.82 for the quarter
compares to $4.75 in Q4 2023; Operating margin before
financial services in Q4 2024 improves 50 basis points to
22.1%; Sales of $1,198.7 million in the quarter compares to
$1,196.6 million last year
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 2024 operating results for the
fourth quarter and full year.
- Net sales of $1,198.7 million in the fourth quarter of 2024
represented an increase of $2.1 million, or 0.2%, from 2023 levels,
reflecting a $2.0 million, or 0.2%, organic gain and $2.1 million
of acquisition-related sales, partially offset by $2.0 million of
unfavorable foreign currency translation.
- Operating earnings before financial services for the quarter of
$265.2 million compared to $257.9 million in 2023. As a percentage
of net sales, operating earnings before financial services were
22.1% in the fourth quarter compared to 21.6% last year.
- Financial services revenue in the quarter of $100.5 million
compared to $97.2 million in 2023; financial services operating
earnings of $66.7 million compared to $67.9 million last year.
- Consolidated operating earnings for the quarter of $331.9
million, or 25.5% of revenues (net sales plus financial services
revenue), compared to $325.8 million, or 25.2% of revenues, in
2023.
- The fourth quarter effective income tax rate was 22.5% in 2024
and 21.4% last year.
- Net earnings in the quarter of $258.1 million, or $4.82 per
diluted share, compared to net earnings of $255.3 million, or $4.75
per diluted share, a year ago.
- Full year net sales of $4,707.4 million in 2024 represented a
decrease of $22.8 million, or 0.5%, from 2023 levels, reflecting a
$40.6 million, or 0.9%, organic decline and $5.5 million of
unfavorable foreign currency translation, partially offset by $23.3
million of acquisition-related sales. Full year net earnings of
$1,043.9 million, or $19.51 per diluted share, compared to $1,011.1
million, or $18.76 per diluted share, in 2023, an increase of $32.8
million or $0.75 per diluted share. In 2024, net earnings included
a $17.5 million, or $0.32 per diluted share, after-tax benefit for
the final payments associated with a legal matter, which were
received in the first six months of 2024.
See “Non-GAAP Measures” below for a definition of, and further
explanation about, organic sales.
“We are encouraged by our fourth quarter results as our
businesses were again strong, achieving a positive balance and
overall progress, with our operations serving critical industries
and repair shop owners and managers advancing in both sales and
profitability, and with the Snap-on Tools Group continuing to
narrow the gap versus prior periods despite the environment of
general uncertainty,” said Nick Pinchuk, Snap-on chairman and chief
executive officer. “In addition to reconfirming the special
resilience of our markets and our enterprise, rooted in essential
repair, the quarter demonstrates the considerable capabilities of
our team, as is evident in the Tools Group success, pivoting our
advantages in product, brand, and people to better match the
current preferences of technicians for quick payback items. As we
proceed into 2025, we’ll enhance the franchise network by further
refocusing our product development, manufacturing, and marketing,
meeting the demands of the day, extend to critical industries by
sharpening our ability to take full advantage of the growing need
for customized solutions, and expand our already prominent position
with shop owners and managers by serving the rising complexity of
vehicle repair. At the same time, we’ll engage our Snap-on Value
Creation Processes, driving improvements across the corporation
that when combined with our runways for growth, we believe will
author substantial and strategic gain. Finally, I want to thank our
franchisees and our associates worldwide for their many
contributions, for their steadfast dedication, and for their deep
confidence in our prospects as we move forward through this 105th
year of our company and significantly beyond.”
Segment Results - Fourth
Quarter
Commercial & Industrial Group segment sales of $379.2
million in the quarter compared to $363.9 million last year,
reflecting a $14.2 million, or 3.9%, organic gain and $2.1 million
of acquisition-related sales, partially offset by $1.0 million of
unfavorable foreign currency translation. The organic increase is
primarily due to higher sales to customers in critical industries,
with particular progress in the specialty torque arena.
Operating earnings of $63.5 million in the period compared to
$54.1 million in 2023. The operating margin (operating earnings as
a percentage of segment sales) improved 180 basis points to 16.7%
from 14.9% last year.
Snap-on Tools Group segment sales of $506.6 million in
the quarter compared to $513.3 million last year, reflecting a $7.3
million, or 1.4%, organic sales decrease, partially offset by $0.6
million of favorable foreign currency translation. The organic
decline is due to lower activity in the U.S., partially offset by
higher sales in the segment’s international operations.
Operating earnings of $106.9 million in the period compared to
$111.0 million in 2023. The operating margin of 21.1% compared to
21.6% a year ago.
Repair Systems & Information Group segment sales of
$456.6 million in the quarter compared to $450.8 million last year,
reflecting a $7.3 million, or 1.6%, organic sales increase,
partially offset by $1.5 million of unfavorable foreign currency
translation. The organic gain includes higher activity with OEM
dealerships and increased sales of diagnostic and repair
information products to independent repair shop owners and
managers, partially offset by lower volumes of undercar
equipment.
Operating earnings of $121.4 million in the period compared to
$113.3 million in 2023. The operating margin improved 150 basis
points to 26.6% from 25.1% last year.
Financial Services operating earnings of $66.7 million on
revenue of $100.5 million in the quarter compared to operating
earnings of $67.9 million on revenue of $97.2 million a year ago.
Originations of $285.1 million in the fourth quarter represented a
decrease of $18.0 million, or 5.9%, from 2023 levels.
Corporate expenses in the fourth quarter of $26.6 million
compared to $20.5 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 2025, Snap-on expects
to make ongoing progress along its decisive runways for coherent
growth, leveraging capabilities already proven in the automotive
repair arena, 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 2025 will approximate $100 million.
Snap-on currently anticipates that its full-year 2025 effective
income tax rate will be in the range of 22% to 23%.
Conference Call and Webcast on February
6, 2025, at 9:00 a.m. Central Time
A discussion of this release will be webcast on Thursday,
February 6, 2025, 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 2024, 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)
Fourth Quarter
Full Year
2024
2023
2024
2023
Net sales
$
1,198.7
$
1,196.6
$
4,707.4
$
4,730.2
Cost of goods sold
(602.6
)
(619.0
)
(2,329.5
)
(2,381.1
)
Gross profit
596.1
577.6
2,377.9
2,349.1
Operating expenses
(330.9
)
(319.7
)
(1,309.1
)
(1,309.2
)
Operating earnings before financial
services
265.2
257.9
1,068.8
1,039.9
Financial services revenue
100.5
97.2
401.0
378.1
Financial services expenses
(33.8
)
(29.3
)
(124.1
)
(107.6
)
Operating earnings from financial
services
66.7
67.9
276.9
270.5
Operating earnings
331.9
325.8
1,345.7
1,310.4
Interest expense
(12.3
)
(12.5
)
(49.6
)
(49.9
)
Other income (expense) – net
19.6
17.5
77.0
67.5
Earnings before income taxes
339.2
330.8
1,373.1
1,328.0
Income tax expense
(75.0
)
(69.5
)
(304.2
)
(293.4
)
Net earnings
264.2
261.3
1,068.9
1,034.6
Net earnings attributable to
noncontrolling interests
(6.1
)
(6.0
)
(25.0
)
(23.5
)
Net earnings attributable to Snap-on
Inc.
$
258.1
$
255.3
$
1,043.9
$
1,011.1
Net earnings per share attributable to
Snap-on Inc.:
Basic
$
4.92
$
4.84
$
19.85
$
19.11
Diluted
4.82
4.75
19.51
18.76
Weighted-average shares
outstanding:
Basic
52.5
52.7
52.6
52.9
Effect of dilutive securities
1.0
1.1
0.9
1.0
Diluted
53.5
53.8
53.5
53.9
SNAP-ON INCORPORATED
Supplemental Segment
Information
(Amounts in millions)
(unaudited)
Fourth Quarter
Full Year
2024
2023
2024
2023
Net sales:
Commercial & Industrial Group
$
379.2
$
363.9
$
1,476.8
$
1,458.3
Snap-on Tools Group
506.6
513.3
1,989.2
2,088.8
Repair Systems & Information Group
456.6
450.8
1,797.9
1,781.2
Segment net sales
1,342.4
1,328.0
5,263.9
5,328.3
Intersegment eliminations
(143.7
)
(131.4
)
(556.5
)
(598.1
)
Total net sales
1,198.7
1,196.6
4,707.4
4,730.2
Financial Services revenue
100.5
97.2
401.0
378.1
Total revenues
$
1,299.2
$
1,293.8
$
5,108.4
$
5,108.3
Operating earnings:
Commercial & Industrial Group
$
63.5
$
54.1
$
242.1
$
226.1
Snap-on Tools Group
106.9
111.0
447.3
493.8
Repair Systems & Information Group
121.4
113.3
455.2
433.2
Financial Services
66.7
67.9
276.9
270.5
Segment operating earnings
358.5
346.3
1,421.5
1,423.6
Corporate
(26.6
)
(20.5
)
(75.8
)
(113.2
)
Operating earnings
331.9
325.8
1,345.7
1,310.4
Interest expense
(12.3
)
(12.5
)
(49.6
)
(49.9
)
Other income (expense) – net
19.6
17.5
77.0
67.5
Earnings before income taxes
$
339.2
$
330.8
$
1,373.1
$
1,328.0
SNAP-ON INCORPORATED
Condensed Consolidated Balance
Sheets
(Amounts in millions)
(unaudited)
Fiscal Year End
2024
2023
Assets
Cash and cash equivalents
$
1,360.5
$
1,001.5
Trade and other accounts receivable –
net
815.6
791.3
Finance receivables – net
610.3
594.1
Contract receivables – net
120.0
120.8
Inventories – net
943.4
1,005.9
Prepaid expenses and other current
assets
139.6
138.4
Total current assets
3,989.4
3,652.0
Property and equipment – net
542.6
539.3
Operating lease right-of-use assets
89.4
74.7
Deferred income tax assets
78.0
76.0
Long-term finance receivables – net
1,312.0
1,284.2
Long-term contract receivables – net
418.3
407.9
Goodwill
1,056.8
1,097.4
Other intangible assets – net
267.6
268.9
Pension assets
125.4
130.5
Other long-term assets
17.3
14.0
Total assets
$
7,896.8
$
7,544.9
Liabilities and Equity
Notes payable
$
13.7
$
15.6
Accounts payable
265.9
238.0
Accrued benefits
67.2
64.4
Accrued compensation
86.1
102.9
Franchisee deposits
70.9
73.3
Other accrued liabilities
457.7
447.4
Total current liabilities
961.5
941.6
Long-term debt
1,185.5
1,184.6
Deferred income tax liabilities
73.5
79.2
Retiree health care benefits
19.4
21.8
Pension liabilities
78.4
82.3
Operating lease liabilities
68.6
54.6
Other long-term liabilities
92.9
87.4
Total liabilities
2,479.8
2,451.5
Equity
Shareholders' equity attributable to
Snap-on Inc.
Common stock
67.5
67.5
Additional paid-in capital
557.7
545.5
Retained earnings
7,584.3
6,948.5
Accumulated other comprehensive loss
(575.0
)
(449.5
)
Treasury stock at cost
(2,240.4
)
(2,040.7
)
Total shareholders' equity attributable
to Snap-on Inc.
5,394.1
5,071.3
Noncontrolling interests
22.9
22.1
Total equity
5,417.0
5,093.4
Total liabilities and equity
$
7,896.8
$
7,544.9
SNAP-ON INCORPORATED
Condensed Consolidated
Statements of Cash Flows
(Amounts in millions)
(unaudited)
Fourth Quarter
2024
2023
Operating activities:
Net earnings
$
264.2
$
261.3
Adjustments to reconcile net earnings to
net cash provided (used) by operating activities:
Depreciation
18.0
18.6
Amortization of other intangible
assets
6.3
6.4
Provision for losses on finance
receivables
20.5
16.5
Provision for losses on non-finance
receivables
5.0
4.2
Stock-based compensation expense
7.1
13.3
Deferred income tax benefit
(1.0
)
(2.2
)
Gain on sales of assets
(0.1
)
(0.4
)
Changes in operating assets and
liabilities, net of effects of acquisitions:
Trade and other accounts receivable
(44.8
)
(6.9
)
Contract receivables
(2.0
)
(6.1
)
Inventories
19.2
44.3
Prepaid expenses and other current
assets
(0.1
)
4.8
Accounts payable
(4.6
)
(52.4
)
Accrued and other liabilities
5.8
(4.5
)
Net cash provided by operating
activities
293.5
296.9
Investing activities:
Additions to finance receivables
(234.7
)
(249.2
)
Collections of finance receivables
208.5
207.0
Capital expenditures
(18.1
)
(21.1
)
Acquisitions of businesses, net of cash
acquired
—
(42.6
)
Disposals of property and equipment
1.1
1.2
Other
3.0
0.1
Net cash used by investing
activities
(40.2
)
(104.6
)
Financing activities:
Net decrease in other short-term
borrowings
(0.4
)
(1.7
)
Cash dividends paid
(112.3
)
(98.0
)
Purchases of treasury stock
(112.5
)
(60.9
)
Proceeds from stock purchase plans and
stock option exercises
30.7
19.1
Other
(7.0
)
(7.5
)
Net cash used by financing
activities
(201.5
)
(149.0
)
Effect of exchange rate changes on cash
and cash equivalents
(4.6
)
(1.1
)
Increase in cash and cash
equivalents
47.2
42.2
Cash and cash equivalents at beginning of
period
1,313.3
959.3
Cash and cash equivalents at end of
year
$
1,360.5
$
1,001.5
Supplemental cash flow
disclosures:
Cash paid for interest
$
(8.3
)
$
(8.4
)
Net cash paid for income taxes
(61.8
)
(76.4
)
SNAP-ON INCORPORATED
Condensed Consolidated
Statements of Cash Flows
(Amounts in millions)
(unaudited)
Full Year
2024
2023
Operating activities:
Net earnings
$
1,068.9
$
1,034.6
Adjustments to reconcile net earnings to
net cash provided (used) by operating activities:
Depreciation
72.7
72.2
Amortization of other intangible
assets
25.3
27.1
Provision for losses on finance
receivables
71.1
57.2
Provision for losses on non-finance
receivables
22.8
19.2
Stock-based compensation expense
28.6
44.7
Deferred income tax benefit
(8.2
)
(18.7
)
Gain on sales of assets
(0.6
)
(1.0
)
Changes in operating assets and
liabilities, net of effects of acquisitions:
Trade and other accounts receivable
(72.9
)
(45.2
)
Contract receivables
(17.4
)
(34.0
)
Inventories
27.8
23.3
Prepaid expenses and other current
assets
10.4
35.1
Accounts payable
29.0
(48.1
)
Accrued and other liabilities
(40.0
)
(12.2
)
Net cash provided by operating
activities
1,217.5
1,154.2
Investing activities:
Additions to finance receivables
(966.0
)
(1,029.0
)
Collections of finance receivables
837.8
833.5
Capital expenditures
(83.5
)
(95.0
)
Acquisitions of businesses, net of cash
acquired
—
(42.6
)
Disposals of property and equipment
3.1
2.7
Other
4.5
(1.4
)
Net cash used by investing
activities
(204.1
)
(331.8
)
Financing activities:
Net decrease in other short-term
borrowings
(1.3
)
(1.7
)
Cash dividends paid
(406.4
)
(355.6
)
Purchases of treasury stock
(290.0
)
(294.7
)
Proceeds from stock purchase plans and
stock option exercises
92.3
113.6
Other
(44.4
)
(34.5
)
Net cash used by financing
activities
(649.8
)
(572.9
)
Effect of exchange rate changes on cash
and cash equivalents
(4.6
)
(5.2
)
Increase in cash and cash
equivalents
359.0
244.3
Cash and cash equivalents at beginning of
year
1,001.5
757.2
Cash and cash equivalents at end of
year
$
1,360.5
$
1,001.5
Supplemental cash flow
disclosures:
Cash paid for interest
$
(44.1
)
$
(44.5
)
Net cash paid for income taxes
(305.7
)
(300.9
)
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
Fourth Quarter
Fourth Quarter
2024
2023
2024
2023
Net sales
$
1,198.7
$
1,196.6
$
—
$
—
Cost of goods sold
(602.6
)
(619.0
)
—
—
Gross profit
596.1
577.6
—
—
Operating expenses
(330.9
)
(319.7
)
—
—
Operating earnings before financial
services
265.2
257.9
—
—
Financial services revenue
—
—
100.5
97.2
Financial services expenses
—
—
(33.8
)
(29.3
)
Operating earnings from financial
services
—
—
66.7
67.9
Operating earnings
265.2
257.9
66.7
67.9
Interest expense
(12.3
)
(12.5
)
—
—
Intersegment interest income (expense) –
net
16.5
16.0
(16.5
)
(16.0
)
Other income (expense) – net
19.5
17.5
0.1
—
Earnings before income taxes and equity
earnings
288.9
278.9
50.3
51.9
Income tax expense
(62.4
)
(57.8
)
(12.6
)
(11.7
)
Earnings before equity earnings
226.5
221.1
37.7
40.2
Financial services – net earnings
attributable to Snap-on
37.7
40.2
—
—
Net earnings
264.2
261.3
37.7
40.2
Net earnings attributable to
noncontrolling interests
(6.1
)
(6.0
)
—
—
Net earnings attributable to
Snap-on
$
258.1
$
255.3
$
37.7
$
40.2
* 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
Full Year
Full Year
2024
2023
2024
2023
Net sales
$
4,707.4
$
4,730.2
$
—
$
—
Cost of goods sold
(2,329.5
)
(2,381.1
)
—
—
Gross profit
2,377.9
2,349.1
—
—
Operating expenses
(1,309.1
)
(1,309.2
)
—
—
Operating earnings before financial
services
1,068.8
1,039.9
—
—
Financial services revenue
—
—
401.0
378.1
Financial services expenses
—
—
(124.1
)
(107.6
)
Operating earnings from financial
services
—
—
276.9
270.5
Operating earnings
1,068.8
1,039.9
276.9
270.5
Interest expense
(49.6
)
(49.9
)
—
—
Intersegment interest income (expense) –
net
67.1
63.9
(67.1
)
(63.9
)
Other income (expense) – net
76.8
67.3
0.2
0.2
Earnings before income taxes and equity
earnings
1,163.1
1,121.2
210.0
206.8
Income tax expense
(251.7
)
(241.6
)
(52.5
)
(51.8
)
Earnings before equity earnings
911.4
879.6
157.5
155.0
Financial services – net earnings
attributable to Snap-on
157.5
155.0
—
—
Net earnings
1,068.9
1,034.6
157.5
155.0
Net earnings attributable to
noncontrolling interests
(25.0
)
(23.5
)
—
—
Net earnings attributable to
Snap-on
$
1,043.9
$
1,011.1
$
157.5
$
155.0
* 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
Fiscal Year End
Fiscal Year End
2024
2023
2024
2023
Assets
Cash and cash equivalents
$
1,360.4
$
1,001.3
$
0.1
$
0.2
Intersegment receivables
15.1
15.7
—
—
Trade and other accounts receivable –
net
815.0
790.6
0.6
0.7
Finance receivables – net
—
—
610.3
594.1
Contract receivables – net
4.8
5.5
115.2
115.3
Inventories – net
943.4
1,005.9
—
—
Prepaid expenses and other current
assets
143.8
143.2
9.4
7.4
Total current assets
3,282.5
2,962.2
735.6
717.7
Property and equipment – net
540.2
536.5
2.4
2.8
Operating lease right-of-use assets
83.8
73.8
5.6
0.9
Investment in Financial Services
403.5
393.9
—
—
Deferred income tax assets
51.8
51.3
26.2
24.7
Intersegment long-term notes
receivable
831.8
785.6
—
—
Long-term finance receivables – net
—
—
1,312.0
1,284.2
Long-term contract receivables – net
8.4
8.3
409.9
399.6
Goodwill
1,056.8
1,097.4
—
—
Other intangible assets – net
267.6
268.9
—
—
Pension assets
125.4
130.5
—
—
Other long-term assets
35.6
30.2
0.2
0.1
Total assets
$
6,687.4
$
6,338.6
$
2,491.9
$
2,430.0
Liabilities and Equity
Notes payable
$
13.7
$
15.6
$
—
$
—
Accounts payable
265.4
236.2
0.5
1.8
Intersegment payables
—
—
15.1
15.7
Accrued benefits
67.2
64.4
—
—
Accrued compensation
83.5
99.9
2.6
3.0
Franchisee deposits
70.9
73.3
—
—
Other accrued liabilities
443.6
432.2
27.7
27.4
Total current liabilities
944.3
921.6
45.9
47.9
Long-term debt and intersegment long-term
debt
—
—
2,017.3
1,970.2
Deferred income tax liabilities
73.5
79.2
—
—
Retiree health care benefits
19.4
21.8
—
—
Pension liabilities
78.4
82.3
—
—
Operating lease liabilities
63.0
54.0
5.6
0.6
Other long-term liabilities
91.8
86.3
19.6
17.4
Total liabilities
1,270.4
1,245.2
2,088.4
2,036.1
Total shareholders' equity attributable
to Snap-on
5,394.1
5,071.3
403.5
393.9
Noncontrolling interests
22.9
22.1
—
—
Total equity
5,417.0
5,093.4
403.5
393.9
Total liabilities and equity
$
6,687.4
$
6,338.6
$
2,491.9
$
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/20250206467415/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
