Snap-on Announces First Quarter 2025 Results
Sales of
Mixed sales results amidst heightened economic uncertainty;
Gross margin of
-
Net sales of
$1,141.1 million $41.2 million 3.5% , from 2024 levels, reflecting a$27.3 million 2.3% , organic decline and$13.9 million -
Operating earnings before financial services for the quarter of
$243.1 million 21.3% of net sales, compared to$270.9 million 22.9% of net sales, last year, which included a benefit of$11.3 million -
Financial services revenue in the quarter of
$102.1 million $99.6 million $70.3 million $68.3 million -
Consolidated operating earnings for the quarter of
$313.4 million 25.2% of revenues (net sales plus financial services revenue), compared to$339.2 million 26.5% of revenues, in 2024, which included a benefit of$11.3 million -
The first quarter effective income tax rate was
22.2% in both 2025 and 2024. -
Net earnings in the quarter of
$240.5 million $4.51 $263.5 million $4.91 $8.8 million $0.16
See “Non-GAAP Measures” below for a definition of, and further explanation about, organic sales.
“Snap-on’s first quarter was marked by the heightened macroeconomic uncertainty of the day that led to mixed results across our operations,” said Nick Pinchuk, Snap-on chairman and chief executive officer. “As such, the grassroots economy, particularly the technician customers of the Tools Group, accelerated their reluctance to purchase financed products. At the same time, we are encouraged by the performance of our businesses serving repair shop owners and managers, by our extension in critical industries outside the military, and by the effectiveness of our Snap-on Value Creation Processes that authored record first quarter operating margins for both our Commercial & Industrial Group and Repair Systems & Information Group, and combined to drive higher overall gross margin. These are times of expanding turbulence. We are, however, confident, holding great belief in the criticality of our markets across essential repair, the considerable capabilities of our battle-tested team, and the power of our continuing investments in product, brand, and people. As we move forward, we believe strongly in our long-established strategy to largely produce in the countries and regions where we sell and in our broad manufacturing capacity in the
Segment Results
Commercial & Industrial Group segment sales of
Operating earnings of
Snap-on Tools Group segment sales of
Operating earnings of
Repair Systems & Information Group segment sales of
Operating earnings of
Financial Services operating earnings of
Corporate expenses in the first quarter of
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
Snap-on currently anticipates that its full-year 2025 effective income tax rate will be in the range of
Conference Call and Webcast on April 17, 2025, at 9:00 a.m. Central Time
A discussion of this release will be webcast on Thursday, April 17, 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
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
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 28, 2024, 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 |
||||||
|
March 29, |
|
March 30, |
||||
|
|
2025 |
|
|
|
2024 |
|
|
|
|
|
||||
Net sales |
$ |
1,141.1 |
|
|
$ |
1,182.3 |
|
Cost of goods sold |
|
(562.6 |
) |
|
|
(585.6 |
) |
Gross profit |
|
578.5 |
|
|
|
596.7 |
|
Operating expenses |
|
(335.4 |
) |
|
|
(325.8 |
) |
Operating earnings before financial services |
|
243.1 |
|
|
|
270.9 |
|
|
|
|
|
||||
Financial services revenue |
|
102.1 |
|
|
|
99.6 |
|
Financial services expenses |
|
(31.8 |
) |
|
|
(31.3 |
) |
Operating earnings from financial services |
|
70.3 |
|
|
|
68.3 |
|
|
|
|
|
||||
Operating earnings |
|
313.4 |
|
|
|
339.2 |
|
Interest expense |
|
(12.4 |
) |
|
|
(12.5 |
) |
Other income (expense) – net |
|
14.4 |
|
|
|
18.1 |
|
Earnings before income taxes |
|
315.4 |
|
|
|
344.8 |
|
Income tax expense |
|
(68.7 |
) |
|
|
(75.2 |
) |
Net earnings |
|
246.7 |
|
|
|
269.6 |
|
Net earnings attributable to noncontrolling interests |
|
(6.2 |
) |
|
|
(6.1 |
) |
Net earnings attributable to Snap-on Incorporated |
$ |
240.5 |
|
|
$ |
263.5 |
|
|
|
|
|
||||
|
|
|
|
||||
Net earnings per share attributable to Snap-on Incorporated: |
|
|
|
||||
Basic |
$ |
4.59 |
|
|
$ |
4.99 |
|
Diluted |
|
4.51 |
|
|
|
4.91 |
|
|
|
|
|
||||
Weighted-average shares outstanding: |
|
|
|
||||
Basic |
|
52.4 |
|
|
|
52.8 |
|
Effect of dilutive securities |
|
0.9 |
|
|
|
0.9 |
|
Diluted |
|
53.3 |
|
|
|
53.7 |
|
SNAP-ON INCORPORATED Supplemental Segment Information (Amounts in millions) (Unaudited) |
|||||||
|
Three Months Ended |
||||||
|
March 29, |
|
March 30, |
||||
|
|
2025 |
|
|
|
2024 |
|
Net sales: |
|
|
|
||||
Commercial & Industrial Group |
$ |
343.9 |
|
|
$ |
359.9 |
|
Snap-on Tools Group |
|
462.9 |
|
|
|
500.1 |
|
Repair Systems & Information Group |
|
475.9 |
|
|
|
463.8 |
|
Segment net sales |
|
1,282.7 |
|
|
|
1,323.8 |
|
Intersegment eliminations |
|
(141.6 |
) |
|
|
(141.5 |
) |
Total net sales |
|
1,141.1 |
|
|
|
1,182.3 |
|
Financial Services revenue |
|
102.1 |
|
|
|
99.6 |
|
Total revenues |
$ |
1,243.2 |
|
|
$ |
1,281.9 |
|
|
|
|
|
||||
Operating earnings: |
|
|
|
||||
Commercial & Industrial Group |
$ |
53.2 |
|
|
$ |
55.4 |
|
Snap-on Tools Group |
|
92.4 |
|
|
|
117.3 |
|
Repair Systems & Information Group |
|
122.1 |
|
|
|
112.9 |
|
Financial Services |
|
70.3 |
|
|
|
68.3 |
|
Segment operating earnings |
|
338.0 |
|
|
|
353.9 |
|
Corporate |
|
(24.6 |
) |
|
|
(14.7 |
) |
Operating earnings |
|
313.4 |
|
|
|
339.2 |
|
Interest expense |
|
(12.4 |
) |
|
|
(12.5 |
) |
Other income (expense) – net |
|
14.4 |
|
|
|
18.1 |
|
Earnings before income taxes |
$ |
315.4 |
|
|
$ |
344.8 |
|
SNAP-ON INCORPORATED Condensed Consolidated Balance Sheets (Amounts in millions) (Unaudited) |
|||||||
|
March 29, |
|
December 28, |
||||
|
|
2025 |
|
|
|
2024 |
|
Assets |
|
|
|
||||
Cash and cash equivalents |
$ |
1,434.9 |
|
|
$ |
1,360.5 |
|
Trade and other accounts receivable – net |
|
852.7 |
|
|
|
815.6 |
|
Finance receivables – net |
|
620.4 |
|
|
|
610.3 |
|
Contract receivables – net |
|
116.4 |
|
|
|
120.0 |
|
Inventories – net |
|
961.2 |
|
|
|
943.4 |
|
Prepaid expenses and other current assets |
|
155.8 |
|
|
|
139.6 |
|
Total current assets |
|
4,141.4 |
|
|
|
3,989.4 |
|
|
|
|
|
||||
Property and equipment – net |
|
547.7 |
|
|
|
542.6 |
|
Operating lease right-of-use assets |
|
91.7 |
|
|
|
89.4 |
|
Deferred income tax assets |
|
78.3 |
|
|
|
78.0 |
|
Long-term finance receivables – net |
|
1,296.3 |
|
|
|
1,312.0 |
|
Long-term contract receivables – net |
|
420.1 |
|
|
|
418.3 |
|
Goodwill |
|
1,077.7 |
|
|
|
1,056.8 |
|
Other intangible assets – net |
|
271.4 |
|
|
|
267.6 |
|
Pension assets |
|
127.2 |
|
|
|
125.4 |
|
Other long-term assets |
|
17.2 |
|
|
|
17.3 |
|
Total assets |
$ |
8,069.0 |
|
|
$ |
7,896.8 |
|
|
|
|
|
||||
Liabilities and Equity |
|
|
|
||||
Notes payable |
$ |
18.2 |
|
|
$ |
13.7 |
|
Accounts payable |
|
281.3 |
|
|
|
265.9 |
|
Accrued benefits |
|
72.9 |
|
|
|
67.2 |
|
Accrued compensation |
|
63.8 |
|
|
|
86.1 |
|
Franchisee deposits |
|
71.1 |
|
|
|
70.9 |
|
Other accrued liabilities |
|
492.6 |
|
|
|
457.7 |
|
Total current liabilities |
|
999.9 |
|
|
|
961.5 |
|
|
|
|
|
||||
Long-term debt |
|
1,185.7 |
|
|
|
1,185.5 |
|
Deferred income tax liabilities |
|
79.5 |
|
|
|
73.5 |
|
Retiree health care benefits |
|
18.9 |
|
|
|
19.4 |
|
Pension liabilities |
|
77.7 |
|
|
|
78.4 |
|
Operating lease liabilities |
|
70.0 |
|
|
|
68.6 |
|
Other long-term liabilities |
|
93.2 |
|
|
|
92.9 |
|
Total liabilities |
|
2,524.9 |
|
|
|
2,479.8 |
|
|
|
|
|
||||
Equity |
|
|
|
||||
Shareholders' equity attributable to Snap-on Incorporated |
|
|
|
||||
Common stock |
|
67.5 |
|
|
|
67.5 |
|
Additional paid-in capital |
|
543.5 |
|
|
|
557.7 |
|
Retained earnings |
|
7,712.4 |
|
|
|
7,584.3 |
|
Accumulated other comprehensive loss |
|
(499.5 |
) |
|
|
(575.0 |
) |
Treasury stock at cost |
|
(2,303.1 |
) |
|
|
(2,240.4 |
) |
Total shareholders' equity attributable to Snap-on Incorporated |
|
5,520.8 |
|
|
|
5,394.1 |
|
Noncontrolling interests |
|
23.3 |
|
|
|
22.9 |
|
Total equity |
|
5,544.1 |
|
|
|
5,417.0 |
|
Total liabilities and equity |
$ |
8,069.0 |
|
|
$ |
7,896.8 |
|
SNAP-ON INCORPORATED Condensed Consolidated Statements of Cash Flows (Amounts in millions) (Unaudited) |
|||||||
|
Three Months Ended |
||||||
|
March 29, |
|
March 30, |
||||
|
|
2025 |
|
|
|
2024 |
|
Operating activities: |
|
|
|
||||
Net earnings |
$ |
246.7 |
|
|
$ |
269.6 |
|
Adjustments to reconcile net earnings to net cash provided (used) by operating activities: |
|
|
|
||||
Depreciation |
|
18.3 |
|
|
|
18.2 |
|
Amortization of other intangible assets |
|
5.7 |
|
|
|
6.3 |
|
Provision for losses on finance receivables |
|
18.2 |
|
|
|
18.2 |
|
Provision for losses on non-finance receivables |
|
5.8 |
|
|
|
4.9 |
|
Stock-based compensation expense |
|
4.5 |
|
|
|
9.8 |
|
Deferred income tax provision |
|
3.7 |
|
|
|
1.6 |
|
Gain on sales of assets |
|
— |
|
|
|
(0.2 |
) |
Changes in operating assets and liabilities, net of effects of acquisitions: |
|
|
|
||||
Trade and other accounts receivable |
|
(33.4 |
) |
|
|
(47.9 |
) |
Contract receivables |
|
2.9 |
|
|
|
(4.0 |
) |
Inventories |
|
(3.0 |
) |
|
|
22.1 |
|
Prepaid expenses and other assets |
|
(9.4 |
) |
|
|
(3.5 |
) |
Accounts payable |
|
18.5 |
|
|
|
23.3 |
|
Accrued and other liabilities |
|
20.0 |
|
|
|
30.3 |
|
Net cash provided by operating activities |
|
298.5 |
|
|
|
348.7 |
|
|
|
|
|
||||
Investing activities: |
|
|
|
||||
Additions to finance receivables |
|
(218.9 |
) |
|
|
(248.0 |
) |
Collections of finance receivables |
|
210.7 |
|
|
|
207.8 |
|
Capital expenditures |
|
(22.9 |
) |
|
|
(21.8 |
) |
Disposals of property and equipment |
|
0.1 |
|
|
|
1.1 |
|
Other |
|
(1.0 |
) |
|
|
(2.3 |
) |
Net cash used by investing activities |
|
(32.0 |
) |
|
|
(63.2 |
) |
|
|
|
|
||||
Financing activities: |
|
|
|
||||
Net increase (decrease) in other short-term borrowings |
|
4.5 |
|
|
|
(0.4 |
) |
Cash dividends paid |
|
(112.2 |
) |
|
|
(98.2 |
) |
Purchases of treasury stock |
|
(87.2 |
) |
|
|
(70.2 |
) |
Proceeds from stock purchase plans and stock option exercises |
|
18.3 |
|
|
|
28.3 |
|
Other |
|
(17.0 |
) |
|
|
(23.7 |
) |
Net cash used by financing activities |
|
(193.6 |
) |
|
|
(164.2 |
) |
|
|
|
|
||||
Effect of exchange rate changes on cash and cash equivalents |
|
1.5 |
|
|
|
(1.8 |
) |
Increase in cash and cash equivalents |
|
74.4 |
|
|
|
119.5 |
|
|
|
|
|
||||
Cash and cash equivalents at beginning of year |
|
1,360.5 |
|
|
|
1,001.5 |
|
Cash and cash equivalents at end of period |
$ |
1,434.9 |
|
|
$ |
1,121.0 |
|
|
|
|
|
||||
Supplemental cash flow disclosures: |
|
|
|
||||
Cash paid for interest |
$ |
(13.6 |
) |
|
$ |
(13.7 |
) |
Net cash paid for income taxes |
|
(19.8 |
) |
|
|
(14.7 |
) |
|
|
|
|
||||
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 |
|||||||||||||||
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 |
||||||||||||
|
March 29, |
|
March 30, |
|
March 29, |
|
March 30, |
||||||||
|
|
2025 |
|
|
|
2024 |
|
|
|
2025 |
|
|
|
2024 |
|
|
|
|
|
|
|
|
|
||||||||
Net sales |
$ |
1,141.1 |
|
|
$ |
1,182.3 |
|
|
$ |
— |
|
|
$ |
— |
|
Cost of goods sold |
|
(562.6 |
) |
|
|
(585.6 |
) |
|
|
— |
|
|
|
— |
|
Gross profit |
|
578.5 |
|
|
|
596.7 |
|
|
|
— |
|
|
|
— |
|
Operating expenses |
|
(335.4 |
) |
|
|
(325.8 |
) |
|
|
— |
|
|
|
— |
|
Operating earnings before financial services |
|
243.1 |
|
|
|
270.9 |
|
|
|
— |
|
|
|
— |
|
|
|
|
|
|
|
|
|
||||||||
Financial services revenue |
|
— |
|
|
|
— |
|
|
|
102.1 |
|
|
|
99.6 |
|
Financial services expenses |
|
— |
|
|
|
— |
|
|
|
(31.8 |
) |
|
|
(31.3 |
) |
Operating earnings from financial services |
|
— |
|
|
|
— |
|
|
|
70.3 |
|
|
|
68.3 |
|
|
|
|
|
|
|
|
|
||||||||
Operating earnings |
|
243.1 |
|
|
|
270.9 |
|
|
|
70.3 |
|
|
|
68.3 |
|
Interest expense |
|
(12.4 |
) |
|
|
(12.5 |
) |
|
|
— |
|
|
|
— |
|
Intersegment interest income (expense) – net |
|
17.0 |
|
|
|
16.7 |
|
|
|
(17.0 |
) |
|
|
(16.7 |
) |
Other income (expense) – net |
|
14.4 |
|
|
|
18.0 |
|
|
|
— |
|
|
|
0.1 |
|
Earnings before income taxes and equity earnings |
|
262.1 |
|
|
|
293.1 |
|
|
|
53.3 |
|
|
|
51.7 |
|
Income tax expense |
|
(55.4 |
) |
|
|
(62.3 |
) |
|
|
(13.3 |
) |
|
|
(12.9 |
) |
Earnings before equity earnings |
|
206.7 |
|
|
|
230.8 |
|
|
|
40.0 |
|
|
|
38.8 |
|
Financial services – net earnings attributable to Snap-on |
|
40.0 |
|
|
|
38.8 |
|
|
|
— |
|
|
|
— |
|
Net earnings |
|
246.7 |
|
|
|
269.6 |
|
|
|
40.0 |
|
|
|
38.8 |
|
Net earnings attributable to noncontrolling interests |
|
(6.2 |
) |
|
|
(6.1 |
) |
|
|
— |
|
|
|
— |
|
Net earnings attributable to Snap-on |
$ |
240.5 |
|
|
$ |
263.5 |
|
|
$ |
40.0 |
|
|
$ |
38.8 |
|
|
|
|
|
|
|
|
|
||||||||
* 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 |
||||||||
|
March 29, |
|
December 28, |
|
March 29, |
|
December 28, |
||||
|
|
2025 |
|
|
2024 |
|
|
2025 |
|
|
2024 |
Assets |
|
|
|
|
|
|
|
||||
Cash and cash equivalents |
$ |
1,434.7 |
|
$ |
1,360.4 |
|
$ |
0.2 |
|
$ |
0.1 |
Intersegment receivables |
|
16.4 |
|
|
15.1 |
|
|
— |
|
|
— |
Trade and other accounts receivable – net |
|
851.4 |
|
|
815.0 |
|
|
1.3 |
|
|
0.6 |
Finance receivables – net |
|
— |
|
|
— |
|
|
620.4 |
|
|
610.3 |
Contract receivables – net |
|
4.9 |
|
|
4.8 |
|
|
111.5 |
|
|
115.2 |
Inventories – net |
|
961.2 |
|
|
943.4 |
|
|
— |
|
|
— |
Prepaid expenses and other current assets |
|
158.9 |
|
|
143.8 |
|
|
10.6 |
|
|
9.4 |
Total current assets |
|
3,427.5 |
|
|
3,282.5 |
|
|
744.0 |
|
|
735.6 |
|
|
|
|
|
|
|
|
||||
Property and equipment – net |
|
545.4 |
|
|
540.2 |
|
|
2.3 |
|
|
2.4 |
Operating lease right-of-use assets |
|
86.2 |
|
|
83.8 |
|
|
5.5 |
|
|
5.6 |
Investment in Financial Services |
|
400.4 |
|
|
403.5 |
|
|
— |
|
|
— |
Deferred income tax assets |
|
51.9 |
|
|
51.8 |
|
|
26.4 |
|
|
26.2 |
Intersegment long-term notes receivable |
|
816.3 |
|
|
831.8 |
|
|
— |
|
|
— |
Long-term finance receivables – net |
|
— |
|
|
— |
|
|
1,296.3 |
|
|
1,312.0 |
Long-term contract receivables – net |
|
8.5 |
|
|
8.4 |
|
|
411.6 |
|
|
409.9 |
Goodwill |
|
1,077.7 |
|
|
1,056.8 |
|
|
— |
|
|
— |
Other intangible assets – net |
|
271.4 |
|
|
267.6 |
|
|
— |
|
|
— |
Pension assets |
|
127.2 |
|
|
125.4 |
|
|
— |
|
|
— |
Other long-term assets |
|
35.5 |
|
|
35.6 |
|
|
0.2 |
|
|
0.2 |
Total assets |
$ |
6,848.0 |
|
$ |
6,687.4 |
|
$ |
2,486.3 |
|
$ |
2,491.9 |
|
|
|
|
|
|
|
|
||||
Liabilities and Equity |
|
|
|
|
|
|
|
||||
Notes payable |
$ |
18.2 |
|
$ |
13.7 |
|
$ |
— |
|
$ |
— |
Accounts payable |
|
279.8 |
|
|
265.4 |
|
|
1.5 |
|
|
0.5 |
Intersegment payables |
|
— |
|
|
— |
|
|
16.4 |
|
|
15.1 |
Accrued benefits |
|
72.8 |
|
|
67.2 |
|
|
0.1 |
|
|
— |
Accrued compensation |
|
61.9 |
|
|
83.5 |
|
|
1.9 |
|
|
2.6 |
Franchisee deposits |
|
71.1 |
|
|
70.9 |
|
|
— |
|
|
— |
Other accrued liabilities |
|
467.8 |
|
|
443.6 |
|
|
38.5 |
|
|
27.7 |
Total current liabilities |
|
971.6 |
|
|
944.3 |
|
|
58.4 |
|
|
45.9 |
|
|
|
|
|
|
|
|
||||
Long-term debt and intersegment long-term debt |
|
— |
|
|
— |
|
|
2,002.0 |
|
|
2,017.3 |
Deferred income tax liabilities |
|
79.5 |
|
|
73.5 |
|
|
— |
|
|
— |
Retiree health care benefits |
|
18.9 |
|
|
19.4 |
|
|
— |
|
|
— |
Pension liabilities |
|
77.7 |
|
|
78.4 |
|
|
— |
|
|
— |
Operating lease liabilities |
|
64.4 |
|
|
63.0 |
|
|
5.6 |
|
|
5.6 |
Other long-term liabilities |
|
91.8 |
|
|
91.8 |
|
|
19.9 |
|
|
19.6 |
Total liabilities |
|
1,303.9 |
|
|
1,270.4 |
|
|
2,085.9 |
|
|
2,088.4 |
|
|
|
|
|
|
|
|
||||
Total shareholders' equity attributable to Snap-on |
|
5,520.8 |
|
|
5,394.1 |
|
|
400.4 |
|
|
403.5 |
Noncontrolling interests |
|
23.3 |
|
|
22.9 |
|
|
— |
|
|
— |
Total equity |
|
5,544.1 |
|
|
5,417.0 |
|
|
400.4 |
|
|
403.5 |
Total liabilities and equity |
$ |
6,848.0 |
|
$ |
6,687.4 |
|
$ |
2,486.3 |
|
$ |
2,491.9 |
|
|
|
|
|
|
|
|
||||
* Snap-on with Financial Services presented on the equity method. |
|||||||||||
View source version on businesswire.com: https://www.businesswire.com/news/home/20250417414385/en/
For additional information, please visit www.snapon.com or contact:
Investors:
Sara Verbsky
262/656-4869
Media:
Samuel Bottum
262/656-5793
Source: Snap-on Incorporated
