Document and Entity Information - shares	6 Months Ended
Document and Entity Information - shares	Jul. 01, 2017	Jul. 14, 2017
Document And Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jul. 01, 2017
Document Fiscal Year Focus	2017
Document Fiscal Period Focus	Q2
Trading Symbol	SNA
Entity Registrant Name	SNAP-ON Inc
Entity Central Index Key	0000091440
Current Fiscal Year End Date	--12-30
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		57,584,456

Condensed Consolidated Statements of Earnings (Unaudited) - USD ($) shares in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Jul. 01, 2017	Jul. 02, 2016	Jul. 01, 2017	Jul. 02, 2016
Income Statement [Abstract]
Net sales	$ 921.4	$ 872.3	$ 1,808.5	$ 1,706.5
Cost of goods sold	(458.4)	(441.0)	(897.5)	(859.9)
Gross profit	463.0	431.3	911.0	846.6
Operating expenses	(279.3)	(264.9)	(557.8)	(524.8)
Operating earnings before financial services	183.7	166.4	353.2	321.8
Financial services revenue	77.7	69.3	154.5	135.6
Financial services expenses	(23.1)	(19.8)	(47.4)	(39.1)
Operating earnings from financial services	54.6	49.5	107.1	96.5
Operating earnings	238.3	215.9	460.3	418.3
Interest expense	(13.0)	(12.9)	(25.7)	(26.0)
Other income (expense) - net	(1.9)	1.2	(3.6)	0.5
Earnings before income taxes and equity earnings	223.4	204.2	431.0	392.8
Income tax expense	(67.3)	(62.2)	(129.9)	(119.8)
Earnings before equity earnings	156.1	142.0	301.1	273.0
Equity earnings, net of tax	0.7	1.4	0.8	1.7
Net earnings	156.8	143.4	301.9	274.7
Net earnings attributable to noncontrolling interests	(3.6)	(3.3)	(7.1)	(6.3)
Net earnings attributable to Snap-on Incorporated	$ 153.2	$ 140.1	$ 294.8	$ 268.4
Net earnings per share attributable to Snap-on Incorporated:
Basic	$ 2.65	$ 2.41	$ 5.09	$ 4.62
Diluted	$ 2.60	$ 2.36	$ 4.98	$ 4.52
Weighted-average shares outstanding:
Basic	57.8	58.1	57.9	58.1
Effect of dilutive securities	1.2	1.3	1.3	1.3
Diluted	59.0	59.4	59.2	59.4
Dividends declared per common share	$ 0.71	$ 0.61	$ 1.42	$ 1.22

Condensed Consolidated Statements of Comprehensive Income (Unaudited) - USD ($)
$ in Millions

3 Months Ended

6 Months Ended

Jul. 01, 2017

Jul. 02, 2016

Jul. 01, 2017

Jul. 02, 2016

Comprehensive income (loss):

Net earnings

$ 156.8

$ 143.4

$ 301.9

$ 274.7

Other comprehensive income (loss):

Foreign currency translation

^[1]

49.4

(34.9)

87.5

(15.0)

Unrealized cash flow hedges, net of tax:

Reclassification of cash flow hedges from accumulated other comprehensive loss

6.1

Reclassification of cash flow hedges to net earnings

(0.4)

(0.1)

(0.7)

(0.2)

Defined benefit pension and postretirement plans:

Amortization of net unrecognized losses and prior service credits included in net periodic benefit cost

6.7

8.3

13.2

15.1

Income tax benefit

(2.3)

(3.0)

(4.6)

(5.5)

Net of tax

4.4

5.3

8.6

9.6

Total comprehensive income

210.2

113.7

403.4

269.1

Comprehensive income attributable to noncontrolling interests

(3.6)

(3.3)

(7.1)

(6.3)

Comprehensive income attributable to Snap-on Incorporated

$ 206.6

$ 110.4

$ 396.3

$ 262.8

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

Condensed Consolidated Balance Sheets (Unaudited) - USD ($) $ in Millions	Jul. 01, 2017	Dec. 31, 2016
ASSETS
Cash and cash equivalents	$ 89.0	$ 77.6
Trade and other accounts receivable - net	645.3	598.8
Finance receivables - net	496.5	472.5
Contract receivables - net	82.4	88.1
Inventories - net	601.4	530.5
Prepaid expenses and other assets	119.5	116.5
Total current assets	2,034.1	1,884.0
Property and equipment:
Land	23.9	19.1
Buildings and improvements	342.9	309.4
Machinery, equipment and computer software	850.1	809.6
Total property and equipment	1,216.9	1,138.1
Accumulated depreciation and amortization	(753.5)	(712.9)
Property and equipment - net	463.4	425.2
Deferred income tax assets	71.8	72.8
Long-term finance receivables - net	998.6	934.5
Long-term contract receivables - net	299.4	286.7
Goodwill	899.2	895.5
Other intangibles - net	256.3	184.6
Other assets	44.3	39.9
Total assets	5,067.1	4,723.2
LIABILITIES AND EQUITY
Notes payable and current maturities of long-term debt	350.2	301.4
Accounts payable	202.3	170.9
Accrued benefits	43.7	52.8
Accrued compensation	69.5	89.8
Franchisee deposits	65.7	66.7
Other accrued liabilities	342.4	307.9
Total current liabilities	1,073.8	989.5
Long-term debt	755.6	708.8
Deferred income tax liabilities	21.9	13.1
Retiree health care benefits	35.1	36.7
Pension liabilities	213.9	246.5
Other long-term liabilities	93.8	93.4
Total liabilities	2,194.1	2,088.0
Commitments and contingencies (Note 14)
Equity
Preferred stock (authorized 15,000,000 shares of $1 par value; none outstanding)
Common stock (authorized 250,000,000 shares of $1 par value; issued 67,407,492 and 67,400,250 shares, respectively)	67.4	67.4
Additional paid-in capital	337.1	317.3
Retained earnings	3,597.0	3,384.9
Accumulated other comprehensive loss	(397.0)	(498.5)
Treasury stock at cost (9,823,034 and 9,450,393 shares, respectively)	(749.6)	(653.9)
Total shareholders' equity attributable to Snap-on Incorporated	2,854.9	2,617.2
Noncontrolling interests	18.1	18.0
Total equity	2,873.0	2,635.2
Total liabilities and equity	$ 5,067.1	$ 4,723.2

Condensed Consolidated Balance Sheets (Unaudited) (Parenthetical) - $ / shares	Jul. 01, 2017	Dec. 31, 2016
Statement of Financial Position [Abstract]
Preferred Stock, Shares Authorized	15,000,000	15,000,000
Preferred Stock, Shares Outstanding	0	0
Preferred Stock, Par Value	$ 1	$ 1
Common Stock, Shares Authorized	250,000,000	250,000,000
Common Stock, Par Value	$ 1	$ 1
Common Stock, Shares Issued	67,407,492	67,400,250
Treasury stock shares at cost	9,823,034	9,450,393

Condensed Consolidated Statements of Equity (Unaudited) - USD ($) $ in Millions	Total	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	Accumulated Other Comprehensive Income (Loss) [Member]	Treasury Stock [Member]	Noncontrolling Interests [Member]
Balance at Jan. 02, 2016	$ 2,430.7	$ 67.4	$ 296.3	$ 2,986.9	$ (364.2)	$ (573.7)	$ 18.0
Net earnings	274.7			268.4			6.3
Other comprehensive income (loss)	(5.6)				(5.6)
Cash dividends	(70.9)			(70.9)
Stock compensation plans	38.0		14.8			23.2
Share repurchases	(58.5)					(58.5)
Other	(6.8)			(0.5)			(6.3)
Balance at Jul. 02, 2016	2,601.6	67.4	311.1	3,183.9	(369.8)	(609.0)	18.0
Balance at Dec. 31, 2016	2,635.2	67.4	317.3	3,384.9	(498.5)	(653.9)	18.0
Net earnings	301.9			294.8			7.1
Other comprehensive income (loss)	101.5				101.5
Cash dividends	(82.3)			(82.3)
Stock compensation plans	46.6		19.8			26.8
Share repurchases	(122.5)					(122.5)
Other	(7.4)			(0.4)			(7.0)
Balance at Jul. 01, 2017	$ 2,873.0	$ 67.4	$ 337.1	$ 3,597.0	$ (397.0)	$ (749.6)	$ 18.1

Condensed Consolidated Statements of Equity (Unaudited) (Parenthetical) - $ / shares	6 Months Ended
	Jul. 01, 2017	Jul. 02, 2016
Cash dividends per share	$ 1.42	$ 1.22
Share repurchases, shares	745,000	377,000
Retained Earnings [Member]
Cash dividends per share	$ 1.42	$ 1.22
Treasury Stock [Member]
Share repurchases, shares	745,000	377,000

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Millions	6 Months Ended
	Jul. 01, 2017	Jul. 02, 2016
Operating activities:
Net earnings	$ 301.9	$ 274.7
Adjustments to reconcile net earnings to net cash provided (used) by operating activities:
Depreciation	32.3	30.4
Amortization of other intangibles	13.6	12.3
Provision for losses on finance receivables	25.8	19.6
Provision for losses on non-finance receivables	4.6	4.7
Stock-based compensation expense	14.4	14.2
Deferred income tax provision (benefit)	3.1	(5.7)
Gain on sale of assets	(0.2)
Settlement of treasury lock	14.9
Changes in operating assets and liabilities, net of effects of acquisitions:
Increase in trade and other accounts receivable	(26.8)	(5.8)
Increase in contract receivables	(5.6)	(5.5)
Increase in inventories	(48.3)	(12.0)
Increase in prepaid and other assets	(9.9)	(24.8)
Increase in accounts payable	27.7	24.1
Decrease in accruals and other liabilities	(28.0)	(22.5)
Net cash provided by operating activities	319.5	303.7
Investing activities:
Additions to finance receivables	(458.8)	(475.1)
Collections of finance receivables	352.9	341.4
Capital expenditures	(34.4)	(40.1)
Acquisitions of businesses, net of cash acquired	(80.2)
Disposal of property and equipment	0.9	1.4
Other	(0.7)	(2.5)
Net cash used by investing activities	(220.3)	(174.9)
Financing activities:
Proceeds from issuance of long-term debt	297.8
Repayments of long-term debt	(150.0)
Repayments of notes payable		(0.8)
Net increase (decrease) in other short-term borrowings	(52.7)	7.4
Cash dividends paid	(82.3)	(70.9)
Purchases of treasury stock	(122.5)	(58.5)
Proceeds from stock purchase and option plans	34.6	28.4
Other	(14.9)	(7.5)
Net cash used by financing activities	(90.0)	(101.9)
Effect of exchange rate changes on cash and cash equivalents	2.2	0.2
Increase in cash and cash equivalents	11.4	27.1
Cash and cash equivalents at beginning of year	77.6	92.8
Cash and cash equivalents at end of period	89.0	119.9
Supplemental cash flow disclosures:
Cash paid for interest	(24.9)	(25.5)
Net cash paid for income taxes	$ (99.8)	$ (106.5)

Summary of Accounting Policies	6 Months Ended
Summary of Accounting Policies	Jul. 01, 2017
Accounting Policies [Abstract]
Summary of Accounting Policies	Note 1: Summary of Accounting Policies Principles of consolidation and presentation The Condensed Consolidated Financial Statements include the accounts of Snap-on Incorporated and its wholly-owned and majority-owned subsidiaries (collectively, “Snap-on” or “the company”). These financial statements should be read in conjunction with, and have been prepared in conformity with, the accounting principles reflected in the consolidated financial statements and related notes included in Snap-on’s 2016 Annual Report on Form 10-K for the fiscal year ended December 31, 2016 (“2016 year end”). The company’s 2017 fiscal second quarter ended on July 1, 2017; the 2016 fiscal second quarter ended on July 2, 2016. Each of the company’s 2017 and 2016 fiscal first and second quarters contained 13 weeks of operating results. Snap-on accounts for investments in unconsolidated affiliates where Snap-on has a greater than 20% but less than 50% ownership interest under the equity method of accounting. Investments in unconsolidated affiliates of $17.4 million as of July 1, 2017, and $15.2 million as of December 31, 2016, are included in “Other assets” on the accompanying Condensed 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 and services to, unconsolidated affiliates. Purchases from unconsolidated affiliates were $2.7 million and $3.2 million in the respective fiscal second quarters of 2017 and 2016, and $5.7 million and $7.4 million in the respective first six months of 2017 and 2016. Sales to unconsolidated affiliates were $0.1 million and zero in the respective fiscal second quarters of 2017 and 2016, and $0.2 million and zero in the respective first six months of 2017 and 2016. The Condensed Consolidated Financial Statements do not include the accounts of the company’s independent franchisees. Snap-on’s Condensed Consolidated Financial Statements are prepared in conformity with generally accepted accounting principles in the United States of America (“GAAP”). All intercompany accounts and transactions have been eliminated. In the opinion of management, all adjustments (consisting of normal recurring adjustments) necessary for the fair presentation of the Condensed Consolidated Financial Statements for the three and six month periods ended July 1, 2017, and July 2, 2016, have been made. Interim results of operations are not necessarily indicative of the results to be expected for the full fiscal year. 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 9 for further information on financial instruments. New Accounting Standards In October 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2016-16, Income Taxes (Topic 740) – Intra-Entity Transfers of Assets Other Than Inventory. The ASU eliminates the requirement to defer the recognition of current and deferred income taxes for an intra-entity asset transfer until the asset has been sold to an outside party. Under the new guidance, an entity should recognize the income tax consequences of an intra-entity transfer of an asset other than inventory when the transfer occurs. The ASU is effective for fiscal years beginning after December 15, 2017, including interim periods within those fiscal years; early adoption is permitted as of the beginning of an annual reporting period for which financial statements (interim or annual) have not been issued or made available for issuance (i.e., the first interim period if an entity issues interim financial statements). The amendments in this ASU are to be applied on a modified retrospective basis through a cumulative-effect adjustment directly to retained earnings at the time of adoption. The company is currently assessing the impact this ASU will have on its consolidated financial statements. In August 2016, the FASB issued ASU No. 2016-15, Statement of Cash Flows (Topic 230), which adds and/or clarifies guidance on the classification of certain cash receipts and payments in the statement of cash flows. The new guidance is intended to reduce diversity in practice in how certain transactions are classified in the statement of cash flows. This ASU is effective for fiscal years beginning after December 15, 2017, including interim periods within those fiscal years; early adoption is permitted. The company is currently assessing the impact this ASU will have on its consolidated statements of cash flows. 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 decision-useful 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 ASU allows for early adoption as of the beginning of an interim or annual reporting period beginning after December 15, 2018. The company is currently assessing the impact this ASU will have on its consolidated financial statements. In May 2014, the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers (Topic 606) that, together with several subsequent updates, outlines a single comprehensive model for entities to use in accounting for revenue arising from contracts with customers and supersedes most current revenue recognition guidance, including industry-specific guidance. Topic 606 is based on the principle that an entity should recognize revenue to depict the transfer of goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. Topic 606 also requires additional disclosure about the nature, amount, timing and uncertainty of revenue and cash flows arising from customer contracts, including significant judgments and changes in judgments and assets recognized from costs incurred to fulfill a contract. Entities may early adopt Topic 606 only as of annual reporting periods beginning after December 15, 2016, including interim reporting periods within that reporting period. Entities have the option of adopting this standard using either a full retrospective approach or a modified retrospective approach (i.e., through a cumulative-effect adjustment directly to retained earnings at the time of adoption). Snap-on commenced its assessment of Topic 606 during the second half of 2014 and developed a comprehensive project plan that included representatives from across the company’s business segments. The project plan included analyzing the standard’s impact on the company’s various revenue streams, comparing its historical accounting policies and practices to the requirements of the new standard, and identifying potential differences from applying the requirements of the new standard to its contracts. The company is in the process of identifying and implementing appropriate changes to its business processes, systems and controls to support revenue recognition and disclosures under Topic 606. As of July 1, 2017, and subject to the potential effects of any new related ASUs issued by the FASB in the balance of 2017, as well as the company’s ongoing evaluation of new transactions and contracts, the company has substantially completed its evaluation of the expected impact of adopting Topic 606 and anticipates that the adoption of this standard will not have a significant impact on the company’s consolidated financial statements. The company presently expects to adopt Topic 606 at the beginning of its 2018 fiscal year using the modified retrospective approach. 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. This ASU, which supersedes most current lease guidance, affects any entity that enters into a lease (as that term is defined in the ASU), with some specified scope exemptions. ASU No. 2016-02 is effective for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years; the ASU allows for early adoption as of the beginning of an interim or annual reporting period. The company is currently assessing the impact this ASU will have on its consolidated financial statements. In March 2017, the FASB issued ASU No. 2017-07, Compensation – Retirement Benefits (Topic 715) – Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost, which provides additional guidance on the presentation of net periodic pension and postretirement benefit costs in the income statement and on the components eligible for capitalization. The amendments in this ASU require that an employer report the service cost component of the net periodic benefit costs in the same income statement line item as other compensation costs arising from services rendered by employees during the period. The non-service-cost components of net periodic benefit costs are to be presented in the income statement separately from the service cost components and outside a subtotal of income from operations. The ASU also allows for the capitalization of the service cost components, when applicable (i.e., as a cost of internally manufactured inventory or a self-constructed asset). The ASU is effective for annual periods beginning after December 15, 2017, including interim periods within those annual periods; early adoption is permitted as of the beginning of an annual period for which financial statements (interim or annual) have not been issued or made available for issuance. The amendments in this ASU are to be applied retrospectively. The company is currently assessing the impact this ASU will have on its consolidated financial statements. In January 2017, the FASB issued ASU No. 2017-04, Intangibles – Goodwill and Other (Topic 350) – Simplifying the Test for Goodwill Impairment, which eliminates the requirement to calculate the implied fair value of goodwill to measure a goodwill impairment charge. Instead, entities will record an impairment charge based on the excess of a reporting unit’s carrying amount over its fair value. Snap-on early adopted this ASU in the second quarter of 2017 in conjunction with its annual impairment test. The amendments in this ASU are to be applied on a prospective basis and the adoption did not have a significant impact on the company’s consolidated financial statements.

Acquisitions

6 Months Ended

Jul. 01, 2017

Business Combinations [Abstract]

Acquisitions

Note 2: Acquisitions

On May 4, 2017, Snap-on acquired Norbar Torque Tools Holding Limited, along with its U.S. and Chinese joint ventures (“Norbar”), for a preliminary cash purchase price of $72.4 million (or $70.7 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. For segment reporting purposes, the results of operations and assets of Norbar have been included in the Commercial & Industrial Group since the acquisition date.

The company anticipates completing the purchase accounting valuations for the acquired net assets of Norbar, including intangible assets, in the third quarter of 2017. The presentation of Norbar in the accompanying Condensed Consolidated Financial Statements has been prepared on a preliminary basis and changes to the allocations may occur as fair value estimates of the acquired net assets are determined. As of July 1, 2017, $24.5 million was recorded, on a preliminary basis, in “Goodwill” on the accompanying Condensed Consolidated Balance Sheets, reflecting the excess of the Norbar purchase price over the net assets acquired. The company does not expect that any of the goodwill will be deductible for tax purposes.

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 original equipment manufacturer (“OEM”) franchise repair shops.

In the second quarter of 2017, the company completed the purchase accounting valuations for the acquired net assets of BTC, including identification of $2.0 million of non-amortized trademarks. The $5.9 million excess of the BTC purchase price over the fair value of the net assets acquired was recorded in “Goodwill” on the accompanying Condensed Consolidated Balance Sheets. For segment reporting purposes, the results of operations and assets of BTC have been included in the Repair Systems and Information Group since the acquisition date.

On November 16, 2016, Snap-on acquired Ryeson Corporation (d/b/a Sturtevant Richmont) for a purchase price of $13.0 million (or $12.6 million, net of cash acquired), which reflects a $0.1 million working capital adjustment finalized in the first quarter of 2017. Sturtevant Richmont designs, manufactures and distributes mechanical and electronic torque wrenches as well as wireless torque error proofing systems for a variety of industrial applications. In the first quarter of 2017, the company completed the purchase accounting valuations for the acquired net assets, including the identification of $3.7 million of non-amortized trademarks. The $5.0 million excess of the Sturtevant Richmont purchase price over the fair value of the net assets acquired was recorded in “Goodwill” on the accompanying Condensed Consolidated Balance Sheets. For segment reporting purposes, the results of operations and assets of Sturtevant Richmont have been included in the Commercial & Industrial Group since the acquisition date.

On October 31, 2016, Snap-on acquired Car-O-Liner Holding AB (“Car-O-Liner”) for a purchase price of $152.0 million (or $148.1 million, net of cash acquired), which reflects a $0.2 million working capital adjustment finalized in the first quarter of 2017. Car-O-Liner designs and manufactures collision repair equipment, and information and truck alignment systems. For segment reporting purposes, substantially all of Car-O-Liner’s results of operations and assets have been included in the Repair Systems & Information Group since the acquisition date, with the remaining portions included in the Commercial & Industrial Group.

The company anticipates completing the purchase accounting valuations for the acquired net assets of Car-O-Liner, including intangible assets, in the third quarter of 2017. The presentation of Car-O-Liner in the accompanying Condensed Consolidated Financial Statements has been prepared on a preliminary basis and changes to the allocations will occur as fair value estimates of the acquired net assets are determined. The company anticipates completing the purchase accounting valuations for Car-O-Liner in the third quarter of 2017. As of July 1, 2017, $66.1 million was recorded, on a preliminary basis, in “Goodwill” on the accompanying Condensed Consolidated Balance Sheets, reflecting the excess of the Car-O-Liner purchase price over the net assets acquired.

The following is a summary of the provisional values of the assets acquired and liabilities assumed of Car-O-Liner, including adjustments recorded as of the six months ended July 1, 2017, as a result of new information obtained about facts and circumstances that existed as of the October 31, 2016 acquisition date:


(Amounts in millions)	Provisional Amounts as of October 31, 2016 (As Adjusted)
Assets acquired:
Cash	$	3.9
Trade and other accounts receivable		17.0
Inventories		18.3
Property and equipment		17.3
Goodwill		66.1
Other intangibles:
Customer relationships		27.2
Non-amortized trademarks		27.7
Other assets		6.0

Total assets acquired		183.5

Liabilities assumed:
Accounts payable		9.8
Deferred income tax liabilities		6.8
Accrued expenses		10.6
Pension liabilities		4.3

Total liabilities assumed		31.5

Net assets acquired	$	152.0

In the three months ended July 1, 2017, Snap-on recognized a pretax benefit of $0.1 million in “Operating expenses” and in the six months ended July 1, 2017, Snap-on recognized expenses of $0.5 million (of which $0.2 million was in “Cost of goods sold” and $0.3 million was in “Operating expenses”), in the accompanying Condensed Consolidated Statements of Earnings related to Car-O-Liner that would have been recognized in 2016 if the provisional adjustments identified in the current reporting period had been recognized as of the October 31, 2016 acquisition date.

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.

Receivables

6 Months Ended

Jul. 01, 2017

Receivables [Abstract]

Receivables

Note 3: 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 July 1, 2017, and December 31, 2016, are as follows:


(Amounts in millions)	July 1, 2017		December 31, 2016
Trade and other accounts receivable	$	659.0	$	612.8
Allowances for doubtful accounts		(13.7)		(14.0)

Total trade and other accounts receivable – net	$	645.3	$	598.8

Finance and Contract Receivables

Snap-on Credit LLC (“SOC”), 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 Condensed Consolidated Statements of Earnings.

Snap-on’s finance receivables are comprised of extended-term installment 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 approaching four years. Contract receivables, with payment terms of up to 10 years, are comprised of extended-term installment payment contracts to a broad base of customers worldwide, including shop owners, both independents and national chains, for their purchase of tools and diagnostic and equipment products. Contract receivables also include extended-term installment 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 and van leases. Finance and contract receivables are generally secured by the underlying tools and/or diagnostic or equipment products financed and, for installment loans to franchisees, other franchisee assets.

The components of Snap-on’s current finance and contract receivables as of July 1, 2017, and December 31, 2016, are as follows:


(Amounts in millions)	July 1, 2017		December 31, 2016
Finance receivables, net of unearned finance charges of $19.3 million and $17.0 million, respectively	$	513.0	$	488.1
Contract receivables, net of unearned finance charges of $16.5 million and $15.6 million, respectively		83.8		89.3

Total		596.8		577.4

Allowances for doubtful accounts:
Finance receivables		(16.5)		(15.6)
Contract receivables		(1.4)		(1.2)

Total		(17.9)		(16.8)

Total current finance and contract receivables – net	$	578.9	$	560.6


Finance receivables – net	$	496.5	$	472.5
Contract receivables – net		82.4		88.1

Total current finance and contract receivables – net	$	578.9	$	560.6

The components of Snap-on’s finance and contract receivables with payment terms beyond one year as of July 1, 2017, and December 31, 2016, are as follows:


(Amounts in millions)	July 1, 2017		December 31, 2016
Finance receivables, net of unearned finance charges of $15.1 million and $13.0 million, respectively	$	1,034.6	$	967.5
Contract receivables, net of unearned finance charges of $23.0 million and $21.5 million, respectively		302.8		289.4

Total		1,337.4		1,256.9

Allowances for doubtful accounts:
Finance receivables		(36.0)		(33.0)
Contract receivables		(3.4)		(2.7)

Total		(39.4)		(35.7)

Total long-term finance and contract receivables – net	$	1,298.0	$	1,221.2


Finance receivables – net	$	998.6	$	934.5
Contract receivables – net		299.4		286.7

Total long-term finance and contract receivables – net	$	1,298.0	$	1,221.2

Delinquency is the primary indicator of credit quality for finance and contract receivables. Receivable balances are considered delinquent when contractual payments become 30 days past due.

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 July 1, 2017, and December 31, 2016, there were $23.3 million and $24.9 million, respectively, of impaired finance receivables, and there were $2.3 million and $2.0 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 July 1, 2017, and December 31, 2016, 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 July 1, 2017, and December 31, 2016, is as follows:


(Amounts in millions)	30-59 Days Past Due		60-90 Days Past Due		Greater Than 90 Days Past Due		Total Past Due		Total Not Past Due		Total		Greater Than 90 Days Past Due and Accruing
July 1, 2017:
Finance receivables	$	15.3	$	9.8	$	14.6	$	39.7	$	1,507.9	$	1,547.6	$	11.1
Contract receivables		1.4		0.8		1.7		3.9		382.7		386.6		0.7

December 31, 2016:
Finance receivables	$	15.1	$	9.8	$	17.0	$	41.9	$	1,413.7	$	1,455.6	$	13.2
Contract receivables		1.4		0.9		1.4		3.7		375.0		378.7		0.5

The amount of performing and nonperforming finance and contract receivables based on payment activity as of July 1, 2017, and December 31, 2016, is as follows:


	July 1, 2017				December 31, 2016
(Amounts in millions)	Finance Receivables		Contract Receivables		Finance Receivables		Contract Receivables
Performing	$	1,524.3	$	384.3	$	1,430.7	$	376.7
Nonperforming		23.3		2.3		24.9		2.0

Total	$	1,547.6	$	386.6	$	1,455.6	$	378.7

The amount of finance and contract receivables on nonaccrual status as of July 1, 2017, and December 31, 2016, is as follows:


(Amounts in millions)	July 1, 2017		December 31, 2016
Finance receivables	$	12.2	$	11.7
Contract receivables		1.6		1.5

The following is a rollforward of the allowances for doubtful accounts for finance and contract receivables for the three and six months ended July 1, 2017:


	Three Months Ended July 1, 2017				Six Months Ended July 1, 2017
(Amounts in millions)	Finance Receivables		Contract Receivables		Finance Receivables		Contract Receivables
Allowances for doubtful accounts:
Beginning of period	$	50.5	$	4.7	$	48.6	$	3.9
Provision		12.8		0.6		25.8		1.9
Charge-offs		(12.5)		(0.6)		(25.4)		(1.2)
Recoveries		1.7		–		3.4		0.1
Currency translation		–		0.1		0.1		0.1

End of period	$	52.5	$	4.8	$	52.5	$	4.8

The following is a rollforward of the allowances for doubtful accounts for finance and contract receivables for the three and six months ended July 2, 2016:


	Three Months Ended July 2, 2016				Six Months Ended July 2, 2016
(Amounts in millions)	Finance Receivables		Contract Receivables		Finance Receivables		Contract Receivables
Allowances for doubtful accounts:
Beginning of period	$	39.9	$	4.6	$	38.2	$	4.4
Provision		10.3		0.2		19.6		0.6
Charge-offs		(9.2)		(0.3)		(18.8)		(0.7)
Recoveries		1.7		0.1		3.6		0.2
Currency translation		(0.1)		(0.1)		–		–

End of period	$	42.6	$	4.5	$	42.6	$	4.5

- Definition

The entire disclosure for claims held for amounts due a entity, excluding financing receivables. Examples include, but are not limited to, trade accounts receivables, notes receivables, loans receivables. Includes disclosure for allowance for credit losses.

+ References + Details

Inventories

6 Months Ended

Jul. 01, 2017

Inventory Disclosure [Abstract]

Inventories

Note 4: Inventories

Inventories by major classification are as follows:


(Amounts in millions)	July 1, 2017		December 31, 2016
Finished goods	$	521.0	$	467.4
Work in progress		46.4		42.7
Raw materials		108.0		93.6

Total FIFO value		675.4		603.7
Excess of current cost over LIFO cost		(74.0)		(73.2)

Total inventories – net	$	601.4	$	530.5

Inventories accounted for using the first-in, first-out (“FIFO”) method approximated 60% and 59% of total inventories as of July 1, 2017, and December 31, 2016, respectively. The company accounts for its non-U.S. inventory on the FIFO method. As of July 1, 2017, approximately 32% of the company’s U.S. inventory was accounted for using the FIFO method and 68% was accounted for using the last-in, first-out (“LIFO”) method. There were no LIFO inventory liquidations in the three and six months ended July 1, 2017, or July 2, 2016.

Goodwill and Other Intangible Assets

6 Months Ended

Jul. 01, 2017

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Other Intangible Assets

Note 5: Goodwill and Other Intangible Assets

The changes in the carrying amount of goodwill by segment for the six months ended July 1, 2017, are as follows:


(Amounts in millions)	Commercial & Industrial Group		Snap-on Tools Group		Repair Systems & Information Group		Total
Balance as of December 31, 2016	$	242.4	$	12.5	$	640.6	$	895.5
Currency translation		19.2		–		14.3		33.5
Acquisitions and related adjustments		24.7		–		(54.5)		(29.8)

Balance as of July 1, 2017	$	286.3	$	12.5	$	600.4	$	899.2

Goodwill of $899.2 million as of July 1, 2017, includes (i) $66.1 million, on a preliminary basis, from the acquisition of Car-O-Liner, (ii) $24.5 million, on a preliminary basis, from the acquisition of Norbar, (iii) $5.9 million from the acquisition of BTC, and (iv) $5.0 million from the acquisition of Sturtevant Richmont. The preliminary goodwill from the Car-O-Liner acquisition is distributed as follows: $65.2 million in the Repair Systems & Information Group and $0.9 million in the Commercial & Industrial Group. The goodwill from the Norbar and Sturtevant Richmont acquisitions is included in the Commercial & Industrial Group and the goodwill from the BTC acquisition is included in the Repair Systems & Information Group. See Note 2 for additional information on acquisitions.

Since the purchase accounting valuations for the acquired net assets of Car-O-Liner and Norbar were not complete as of July 1, 2017, the allocation of the respective purchase prices and resulting goodwill has been prepared on a preliminary basis and changes to the allocations will occur as fair value estimates of the acquired net assets, including intangible assets, are determined. The company anticipates completing the purchase accounting valuations for both the Car-O-Liner and Norbar acquisitions in the third quarter of 2017.

Additional disclosures related to other intangible assets are as follows:


	July 1, 2017				December 31, 2016
(Amounts in millions)	Gross Carrying Value		Accumulated Amortization		Gross Carrying Value		Accumulated Amortization
Amortized other intangible assets:
Customer relationships	$	173.0	$	(92.3)	$	142.6	$	(86.0)
Developed technology		18.7		(18.1)		17.7		(17.7)
Internally developed software		171.7		(125.8)		165.7		(118.3)
Patents		32.4		(22.1)		31.9		(21.5)
Trademarks		2.8		(1.9)		2.8		(1.8)
Other		7.5		(2.5)		7.2		(2.2)

Total		406.1		(262.7)		367.9		(247.5)
Non-amortized trademarks		112.9		–		64.2		–

Total other intangible assets	$	519.0	$	(262.7)	$	432.1	$	(247.5)

As of July 1, 2017, the $173.0 million gross carrying value of customer relationships includes on a preliminary basis, $27.2 million related to the Car-O-Liner acquisition, $1.2 million related to the BTC acquisition and $1.0 million related to the Norbar acquisition. The $112.9 million gross carrying value of non-amortized trademarks as of July 1, 2017, includes $2.0 million related to the BTC acquisition and, on a preliminary basis, $28.9 million related to the Car-O-Liner acquisition and $16.3 million related to the Norbar acquisition.

Snap-on completed its annual impairment testing of goodwill and other indefinite-lived intangible assets in the second quarter of 2017, the results of which did not result in any impairment. 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 July 1, 2017, 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
Internally developed software		3
Patents		8
Trademarks		6
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 11 years.

The company’s customer relationships generally have contractual terms of three to five years and are typically renewed without significant cost to the company. The weighted-average 15-year life for customer relationships is based on the company’s historical renewal experience. Intangible asset renewal costs are expensed as incurred.

The aggregate amortization expense was $6.5 million and $13.6 million for the respective three and six months ended July1, 2017, and $6.2 million and $12.3 million for the respective three and six months ended July 2, 2016. Based on current levels of amortizable intangible assets and estimated weighted-average useful lives, estimated annual amortization expense is expected to be $26.9 million in 2017, $24.4 million in 2018, $21.3 million in 2019, $17.6 million in 2020, $14.4 million in 2021, and $9.6 million in 2022.

- Definition

The entire disclosure for the aggregate amount of goodwill and a description of intangible assets, which may include (a) for amortizable intangible assets (also referred to as finite-lived intangible assets), the carrying amount, the amount of any significant residual value, and the weighted-average amortization period, (b) for intangible assets not subject to amortization (also referred to as indefinite-lived intangible assets), the carrying amount, and (c) the amount of research and development assets acquired and written off in the period, including the line item in the income statement in which the amounts written off are aggregated, if not readily apparent from the income statement. Also discloses (a) for amortizable intangibles assets in total and by major class, the gross carrying amount and accumulated amortization, the total amortization expense for the period, and the estimated aggregate amortization expense for each of the five succeeding fiscal years, (b) for intangible assets not subject to amortization the carrying amount in total and by major class, and (c) for goodwill, in total and for each reportable segment, the changes in the carrying amount of goodwill during the period (including the aggregate amount of goodwill acquired, the aggregate amount of impairment losses recognized, and the amount of goodwill included in the gain (loss) on disposal of a reporting unit). If any part of goodwill has not been allocated to a reportable segment, discloses the unallocated amount and the reasons for not allocating. For each impairment loss recognized related to an intangible asset (excluding goodwill), discloses: (a) a description of the impaired intangible asset and the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method for determining fair value, (c) the caption in the income statement or the statement of activities in which the impairment loss is aggregated, and (d) the segment in which the impaired intangible asset is reported. For each goodwill impairment loss recognized, discloses: (a) a description of the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method of determining the fair value of the associated reporting unit, and (c) if a recognized impairment loss is an estimate not finalized and the reasons why the estimate is not final. May also disclose the nature and amount of any significant adjustments made to a previous estimate of an impairment loss.

+ References + Details

Exit and Disposal Activities	6 Months Ended
Exit and Disposal Activities	Jul. 01, 2017
Restructuring and Related Activities [Abstract]
Exit and Disposal Activities	Note 6: Exit and Disposal Activities Snap-on did not record any costs for exit and disposal activities in the three and six month periods ended July 1, 2017. Snap-on recorded $0.9 million of costs for exit and disposal activities in the three and six month periods ended July 2, 2016. The exit and disposal accrual of $1.1 million as of July 1, 2017, is expected to be fully utilized in 2017. Snap-on anticipates funding the remaining cash requirements of its exit and disposal activities with available cash on hand, cash flows from operations and borrowings under the company’s existing credit facilities. The estimated costs for the exit and disposal activities were based on management’s best business judgment under prevailing circumstances.

Income Taxes	6 Months Ended
Income Taxes	Jul. 01, 2017
Income Tax Disclosure [Abstract]
Income Taxes	Note 7: Income Taxes Snap-on’s effective income tax rate on earnings attributable to Snap-on was 30.6% and 31.0% in the first six months of 2017 and 2016, respectively. 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 $3.7 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 $1.2 million over the next 12 months for uncertain tax positions expected to be taken in future tax filings.

Short-term and Long-term Debt

6 Months Ended

Jul. 01, 2017

Debt Disclosure [Abstract]

Short-term and Long-term Debt

Note 8: Short-term and Long-term Debt

Short-term and long-term debt as of July 1, 2017, and December 31, 2016, consisted of the following:


(Amounts in millions)	July 1, 2017		December 31, 2016
5.50% unsecured notes due 2017	$	–	$	150.0
4.25% unsecured notes due 2018		250.0		250.0
6.70% unsecured notes due 2019		200.0		200.0
6.125% unsecured notes due 2021		250.0		250.0
3.25% unsecured notes due 2027		300.0		–
Other debt*		105.8		160.2

		1,105.8		1,010.2

Less: notes payable and current maturities of long-term debt:
Current maturities of long-term debt		(250.0)		(150.0)
Commercial paper borrowings		(83.5)		(130.0)
Other notes		(16.7)		(21.4)

		(350.2)		(301.4)

Total long-term debt	$	755.6	$	708.8

*Includes fair value adjustments related to interest rate swaps, debt discounts and debt issuance costs.

Notes payable and current maturities of long-term debt of $350.2 million as of July 1, 2017, included $250 million of 4.25% unsecured notes that mature on January 15, 2018 (the “2018 Notes”), $83.5 million of commercial paper borrowings and $16.7 million of other notes. As of 2016 year end, notes payable and current maturities of long-term debt of $301.4 million included $150 million of unsecured 5.50% notes that were repaid in January 2017 upon maturity, $130 million of commercial paper borrowings and $21.4 million of other notes. As of 2016 year end, the 2018 Notes were included in “Long-term debt” on the accompanying Condensed Consolidated Balance Sheets as their scheduled maturity was in excess of one year of the 2016 year-end balance sheet date.

On February 15, 2017, Snap-on sold, at a discount, $300 million of unsecured 3.25% long-term notes that mature on March 1, 2027 (the “2027 Notes”). Interest on the 2027 Notes accrues at a rate of 3.25% per year and is payable semi-annually beginning September 1, 2017. Snap-on used the $297.8 million of net proceeds from the sale of the 2027 Notes, reflecting $1.9 million of transaction costs, to repay a portion of its then-outstanding commercial paper borrowings and the remainder was retained for general corporate purposes, which may include working capital, capital expenditures and possible acquisitions.

Snap-on has a five-year, $700 million multi-currency revolving credit facility that terminates on December 15, 2020 (the “Credit Facility”); no amounts were outstanding under the Credit Facility as of July 1, 2017. Borrowings under the Credit Facility bear interest at varying rates based on Snap-on’s then-current, long-term debt ratings. 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 (consolidated debt net of certain cash adjustments) to the sum of such consolidated net debt plus total equity and less accumulated other comprehensive income or loss (the “Debt Ratio”); or (ii) a ratio not greater than 3.50 to 1.00 of such consolidated net debt to earnings before interest, taxes, depreciation, amortization and certain other adjustments for the preceding four fiscal quarters then ended (the “Debt to EBITDA Ratio”). Snap-on may, up to two times during any five-year period during the term of the Credit Facility (including any extensions thereof), increase the maximum Debt Ratio to 0.65 to 1.00 and/or increase the maximum Debt to EBITDA Ratio to 3.75 to 1.00 for four consecutive fiscal quarters in connection with certain material acquisitions (as defined in the related credit agreement). As of July 1, 2017, the company’s actual ratios of 0.25 and 1.07 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

6 Months Ended

Jul. 01, 2017

Investments, All Other Investments [Abstract]

Financial Instruments

Note 9: Financial Instruments

Derivatives: All derivative instruments are reported in the Condensed Consolidated Financial Statements at fair value. Changes in the fair value of derivatives are recorded each period in earnings or on the accompanying Condensed 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 Accumulated other comprehensive income (loss) (“Accumulated OCI”) must be reclassified to earnings in the period in which earnings are affected by the underlying hedged item and the ineffective portion of all hedges must be recognized in earnings in the period that such portion is determined to be ineffective.

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. On the date 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 Condensed Consolidated Statements of Earnings.

As of July 1, 2017, Snap-on had $148.3 million of net foreign currency forward buy contracts outstanding comprised of buy contracts including $57.7 million in euros, $49.8 million in Swedish kronor, $46.3 million in British pounds, $12.6 million in Hong Kong dollars, $8.2 million in Singapore dollars, $6.8 million in South Korean won, $4.8 million in Mexican pesos, $4.5 million in Norwegian kroner, and $6.1 million in other currencies, and sell contracts comprised of $17.2 million in Japanese yen, $9.0 million in Canadian dollars, $8.9 million in Australian dollars, and $13.4 million in other currencies. As of 2016 year end, Snap-on had $144.4 million of net foreign currency forward buy contracts outstanding comprised of buy contracts including $55.0 million in euros, $53.6 million in British pounds, $47.0 million in Swedish kronor, $9.0 million in Hong Kong dollars, $7.0 million in South Korean won, $5.5 million in Singapore dollars, $4.9 million in Mexican pesos, $4.6 million in Norwegian kroner, and $6.4 million in other currencies, and sell contracts comprised of $16.6 million in Japanese yen, $11.8 million in Canadian dollars, $4.4 million in Australian dollars, $4.0 million in Brazilian real, and $11.8 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”).

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 Condensed Consolidated Statements of Earnings. The effective portion of the change in fair value of the derivative is recorded in “Long-term debt” on the accompanying Condensed Consolidated Balance Sheets, while any ineffective portion is recorded as an adjustment to “Interest expense” on the accompanying Condensed Consolidated Statements of Earnings. The notional amount of interest rate swaps outstanding and designated as fair value hedges was $100.0 million as of both July 1, 2017, and December 31, 2016.

Snap-on entered into a $250 million treasury lock in November 2016 to manage the potential change in interest rates in anticipation of the possible issuance of fixed rate debt. Treasury locks are accounted for as cash flow hedges. The effective differentials to be paid or received on treasury locks related to the anticipated issuance of fixed rate debt are initially recorded in Accumulated OCI. In the first quarter of 2017, Snap-on settled the $250 million treasury lock in conjunction with the February 2017 issuance of the 2027 Notes. The $14.9 million gain on the settlement of the treasury lock was recorded in Accumulated OCI and is being amortized over the term of the 2027 Notes and recognized as an adjustment to interest expense on the consolidated statements of earnings. As of July 1, 2017, no treasury locks were outstanding. The notional amount of treasury locks outstanding and designated as cash flow hedges as of December 31, 2016, was $250 million.

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 July 1, 2017, Snap-on had equity forwards in place intended to manage market risk with respect to 108,400 shares of Snap-on common stock associated with its deferred compensation plans.

Fair Value Measurements: 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 value of derivative instruments included within the Condensed Consolidated Balance Sheets as of July 1, 2017, and December 31, 2016, are as follows:


			July 1, 2017				December 31, 2016
(Amounts in millions)	Balance Sheet Presentation		Asset Derivatives Fair Value		Liability Derivatives Fair Value		Asset Derivatives Fair Value		Liability Derivatives Fair Value
Derivatives designated as hedging instruments:
Interest rate swaps		Other assets	$	9.5	$	–	$	9.8	$	–
Treasury locks		Other assets		–		–		14.3		–

				9.5		–		24.1		–

Derivatives not designated as hedging instruments:
Foreign currency forwards		Prepaid expenses and other assets	$	11.3	$	–	$	4.4	$	–
Foreign currency forwards		Other accrued liabilities		–		3.0		–		13.5
Equity forwards		Prepaid expenses and other assets		17.1		–		17.9		–

Total				28.4		3.0		22.3		13.5

Total derivative instruments			$	37.9	$	3.0	$	46.4	$	13.5

As of July 1, 2017, and December 31, 2016, the fair value adjustment to long-term debt related to the interest rate swaps was $9.5 million and $9.8 million, respectively.

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. Treasury locks are valued based on the 10-year U.S. treasury interest rate. 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 the six months ended July 1, 2017.

The effect of derivative instruments designated as fair value hedges as included in the Condensed Consolidated Statements of Earnings is as follows:


			Effective Portion of Gain Recognized in Income
			Three months ended				Six months ended
(Amounts in millions)	Statement of Earnings Presentation		July 1, 2017		July 2, 2016		July 1, 2017		July 2, 2016
Derivatives designated as fair value hedges:
Interest rate swaps		Interest expense	$	0.7	$	0.8	$	1.4	$	1.5

The effect of derivative instruments designated as cash flow hedges as included in Accumulated OCI on the Condensed Consolidated Balance Sheets and the Condensed Consolidated Statements of Earnings is as follows:

Effective Portion of Gain
Recognized in
Accumulated OCI
Three months ended

Statement of
Earnings
Presentation

Effective Portion of Gain
Reclassified from Accumulated
OCI into Income
Three months ended

(Amounts in millions)

July 1,
2017

July 2,
2016

July 1,
2017

July 2,
2016

Derivatives designated as cash flow hedges:

Treasury locks

–

Interest expense

0.4

0.1

Effective Portion of Gain
Recognized in
Accumulated OCI
Six months ended

Statement of
Earnings
Presentation

Effective Portion of Gain
Reclassified from Accumulated
OCI into Income
Six months ended

(Amounts in millions)

July 1,
2017

July 2,
2016

July 1,
2017

July 2,
2016

Derivatives designated as cash flow hedges:

Treasury locks

6.1

–

Interest expense

0.7

0.2

The effects of derivative instruments not designated as hedging instruments as included in the Condensed Consolidated Statements of Earnings are as follows:


			Gain (Loss) Recognized in Income
			Three months ended				Six months ended
(Amounts in millions)	Statement of Earnings Presentation		July 1, 2017		July 2, 2016		July 1, 2017		July 2, 2016
Derivatives not designated as hedging instruments:
Foreign currency forwards		Other income (expense) – net	$	6.0	$	(5.0)	$	(3.9)	$	(4.2)
Equity forwards		Operating expenses		(1.1)		(0.1)		(1.3)		(0.7)

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 Condensed Consolidated Statements of Earnings. The $6.0 million derivative gain recognized in the second quarter of 2017 was more than offset by transaction losses on net exposures of $8.0 million, resulting in a net foreign exchange loss of $2.0 million for the quarter. The $5.0 million derivative loss recognized in the second quarter of 2016 was more than offset by transaction gains on net exposures of $6.0 million, resulting in a net foreign exchange gain of $1.0 million for the quarter. The $3.9 million derivative loss recognized in the first six months of 2017 was partially offset by transaction gains on net exposures of $0.2 million, resulting in a 2017 year-to-date net foreign exchange loss of $3.7 million. The $4.2 million derivative loss recognized in the first six months of 2016 was more than offset by transaction gains on net exposures of $4.3 million, resulting in a 2016 year-to-date net foreign exchange gain of $0.1 million. The resulting net foreign exchange gains and losses are included in “Other income (expense) – net” on the accompanying Condensed Consolidated Statements of Earnings. See Note 15 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 Condensed Consolidated Statements of Earnings. The $1.1 million derivative loss recognized in the second quarter of 2017 was offset by $1.1 million of mark-to-market deferred compensation benefit. The $0.1 million derivative loss recognized in the second quarter of 2016 was offset by $0.1 million of mark-to-market deferred compensation benefit. The $1.3 million derivative loss recognized in the first six months of 2017 was offset by a mark-to-market deferred compensation benefit of $1.3 million. The $0.7 million derivative loss recognized in the first six months of 2016 was more than offset by a mark-to-market deferred compensation benefit of $1.1 million.

As of July 1, 2017, the maximum maturity date of any fair value hedge was four years. During the next 12 months, Snap-on expects to reclassify into earnings net gains from Accumulated OCI of approximately $1.0 million after tax at the time the underlying hedge transactions are realized.

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 of Financial Instruments: The fair values of financial instruments that do not approximate the carrying values in the financial statements are as follows:


	July 1, 2017				December 31, 2016
(Amounts in millions)	Carrying Value		Fair Value		Carrying Value		Fair Value
Finance receivables – net	$	1,495.1	$	1,735.1	$	1,407.0	$	1,631.2
Contract receivables – net		381.8		419.3		374.8		409.7

Long-term debt, notes payable and current maturities of long-term debt		1,105.8		1,116.5		1,010.2		1,076.7

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 and current maturities 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

6 Months Ended

Jul. 01, 2017

Retirement Benefits [Abstract]

Pension Plans

Note 10: Pension Plans

Snap-on’s net periodic pension cost included the following components:


	Three Months Ended				Six Months Ended
(Amounts in millions)	July 1, 2017		July 2, 2016		July 1, 2017		July 2, 2016
Service cost	$	5.3	$	4.8	$	11.2	$	9.7
Interest cost		13.9		14.4		27.9		28.4
Expected return on plan assets		(20.9)		(20.7)		(41.0)		(40.4)
Amortization of unrecognized loss		7.0		8.5		13.9		15.7
Amortization of prior service credit		(0.3)		(0.3)		(0.6)		(0.6)

Net periodic pension cost	$	5.0	$	6.7	$	11.4	$	12.8

Snap-on intends to make contributions of $7.1 million to its foreign pension plans and $2.3 million to its domestic pension plans in 2017, as required by law. In the first six months of 2017, Snap-on made $30.8 million of cash contributions to its domestic pension plans consisting of (i) $30.0 million of discretionary contributions and (ii) $0.8 million of required contributions. Depending on market and other conditions, Snap-on may make additional discretionary cash contributions to its pension plans in 2017.

Postretirement Health Care Plans

6 Months Ended

Jul. 01, 2017

Postemployment Benefits [Abstract]

Postretirement Health Care Plans

Note 11: Postretirement Health Care Plans

Snap-on’s net periodic postretirement health care cost included the following components:


	Three Months Ended				Six Months Ended
(Amounts in millions)	July 1, 2017		July 2, 2016		July 1, 2017		July 2, 2016
Interest cost	$	0.5	$	0.5	$	1.0	$	1.1
Expected return on plan assets		(0.2)		(0.2)		(0.4)		(0.4)
Amortization of unrecognized loss (gain)		–		0.1		(0.1)		–

Net periodic postretirement health care cost	$	0.3	$	0.4	$	0.5	$	0.7

Stock-based Compensation and Other Stock Plans

6 Months Ended

Jul. 01, 2017

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Stock-based Compensation and Other Stock Plans

Note 12: 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, stock appreciation rights (“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 July 1, 2017, the 2011 Plan had 3,285,425 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 $7.0 million and $14.4 million for the respective three and six months ended July 1, 2017, and $8.4 million and $14.2 million for the respective three and six months ended July 2, 2016. Cash received from stock purchase and option plan exercises during the three and six months ended July 1, 2017, totaled $20.5 million and $34.6 million, respectively. Cash received from stock purchase and option plan exercises during the three and six months ended July 2, 2016, totaled $18.5 million and $28.4 million, respectively. The tax benefit realized from both the exercise and vesting of share-based payment arrangements was $3.1 million and $12.1 million for the respective three and six months ended July 1, 2017, and $2.9 million and $13.1 million for the respective three and six months ended July 2, 2016.

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 the six months ended July 1, 2017, and July 2, 2016, using the Black-Scholes valuation model; there were no stock options granted during the three months ended July 1, 2017, or July 2, 2016:


	Six Months Ended
	July 1, 2017	July 2, 2016
Expected term of option (in years)	5.15	5.05
Expected volatility factor	22.01%	22.17%
Expected dividend yield	1.63%	1.77%
Risk-free interest rate	1.78%	1.04%

A summary of stock option activity as of and for the six months ended July 1, 2017, is presented below:


	Shares (in thousands)		Exercise Price Per Share*		Remaining Contractual Term* (in years)		Aggregate Intrinsic Value (in millions)
Outstanding at December 31, 2016		3,011	$	100.78
Granted		655		168.71
Exercised		(253)		89.07
Forfeited or expired		(71)		153.52

Outstanding at July 1, 2017		3,342		113.86		6.8	$	154.2

Exercisable at July 1, 2017		2,133		90.60		5.5		143.7

* Weighted-average

The weighted-average grant date fair value of options granted during the six months ended July 1, 2017, and July 2, 2016, was $31.13 and $22.99, respectively. The intrinsic value of options exercised was $8.2 million and $21.4 million during the respective three and six months ended July 1, 2017, and $5.0 million and $17.4 million during the respective three and six months ended July 2, 2016. The fair value of stock options vested was $14.0 million and 12.7 million during the respective six months ended July 1, 2017, and July 2, 2016.

As of July 1, 2017, there was $27.2 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 2.0 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 a certain level, 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-year performance period based on the results of the consolidated financial metrics of the company. The performance-based RSUs have a one-year performance period based on the results of the consolidated financial metrics of the company followed by a two-year cliff vesting schedule, assuming continued employment.

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 the six months ended July 1, 2017, and July 2, 2016, was $168.70 and $138.89, respectively. PSUs related to 60,980 shares and 94,186 shares were paid out during the respective six months ended July 1, 2017, and July 2, 2016. Earned PSUs 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”).

Based on the company’s 2016 performance, 45,502 RSUs granted in 2016 were earned; assuming continued employment, these RSUs will vest at the end of fiscal 2018. Based on the company’s 2015 performance, 64,327 RSUs granted in 2015 were earned; assuming continued employment, these RSUs will vest at the end of fiscal 2017. Based on the company’s 2014 performance, 78,585 RSUs granted in 2014 were earned; these RSUs vested as of fiscal 2016 year end and were paid out shortly thereafter.

Changes to the company’s non-vested performance awards during the six months ended July 1, 2017, are as follows:


	Shares (in thousands)		Fair Value Price per Share*
Non-vested performance awards at December 31, 2016		207	$	141.94
Granted		77		168.70
Vested		(5)		142.78
Cancellations and other		(17)		147.78

Non-vested performance awards at July 1, 2017		262		149.31

* Weighted-average

As of July 1, 2017, there was $18.6 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 1.9 years.

Stock Appreciation Rights (“SARs”)

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 the six months ended July 1, 2017, and July 2, 2016, using the Black-Scholes valuation model; there were no stock-settled SARs granted during the three months ended July 1, 2017, or July 2, 2016:


	Six Months Ended
	July 1, 2017	July 2, 2016
Expected term of stock-settled SARs (in years)	3.99	4.03
Expected volatility factor	19.39%	20.09%
Expected dividend yield	1.46%	1.66%
Risk-free interest rate	1.55%	1.11%

Changes to the company’s stock-settled SARs during the six months ended July 1, 2017, are as follows:


	Stock-settled SARs (in thousands)		Exercise Price Per Share*		Remaining Contractual Term* (in years)		Aggregate Intrinsic Value (in millions)
Outstanding at December 31, 2016		303	$	125.38
Granted		100		168.73
Exercised		(8)		106.01
Forfeited or expired		(20)		123.06

Outstanding at July 1, 2017		375		137.52		8.1	$	8.8

Exercisable at July 1, 2017		179		118.55		7.1		7.1

* Weighted-average

The weighted-average grant date fair value of stock-settled SARs granted during the six months ended July 1, 2017, and July 2, 2016, was $24.13 and $19.47, respectively. The intrinsic value of stock-settled SARs exercised was zero and $0.5 million during the respective three and six months ended July 1, 2017, and $0.3 million and $0.7 million during the respective three and six months ended July 2, 2016. The fair value of stock-settled SARs vested during both the six months ended July 1, 2017, and July 2, 2016, was $2.1 million.

As of July 1, 2017, there was $3.6 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 2.0 years.

The following weighted-average assumptions were used in calculating the fair value of cash-settled SARs granted during the six months ended July 1, 2017, and July 2, 2016, using the Black-Scholes valuation model; no cash-settled SARs were granted during the three months ended July 1, 2017, or July 2, 2016:


	Six Months Ended
	July 1, 2017	July 2, 2016
Expected term of cash-settled SARs (in years)	3.62	3.68
Expected volatility factor	19.56%	19.20%
Expected dividend yield	1.55%	1.60%
Risk-free interest rate	1.55%	0.71%

The intrinsic value of cash-settled SARs exercised was $0.2 million and $0.8 million during the respective three and six months ended July 1, 2017, and $0.3 million and $0.8 million during the respective three and six months ended July 2, 2016. The fair value of cash-settled SARs vested during the six months ended July 1, 2017, and July 2, 2016, was $0.1 million and $0.2 million, respectively.

Changes to the company’s non-vested cash-settled SARs during the six months ended July 1, 2017, are as follows:


	Cash-settled SARs (in thousands)		Fair Value Price per Share*
Non-vested cash-settled SARs at December 31, 2016		7	$	40.83
Granted		1		18.10
Vested		(3)		33.47

Non-vested cash-settled SARs at July 1, 2017		5		24.94

* Weighted-average

As of July 1, 2017, 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 1.6 years.

Restricted Stock Awards – Non-employee Directors

The company awarded 6,966 shares and 7,145 shares of restricted stock to non-employee directors in the first six months of 2017 and 2016, respectively. The fair value of the restricted stock awards is expensed over a one-year vesting period based on the fair value on the date of grant. All restrictions for the restricted stock generally lapse upon the earlier of the first anniversary of the grant date, the recipient’s death or disability or in the event of a change in control, as defined in the 2011 Plan. If termination of the recipient’s service occurs prior to the first anniversary of the grant date for any reason other than death or disability, the shares of restricted stock would be forfeited, unless otherwise determined by the Board.

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 the six months ended July 1, 2017, and July 2, 2016, issuances under this plan totaled 26,963 shares and 27,156 shares, respectively. As of July 1, 2017, shares reserved for issuance under this plan totaled 753,600 shares and Snap-on held participant contributions of approximately $0.4 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 for both the three and six months ended July 1, 2017, and $0.1 million of expense and $0.1 million of benefit for the respective three and six months ended July 2, 2016.

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 the six months ended July 1, 2017, and July 2, 2016, issuances under this plan totaled 47,314 shares and 42,867 shares, respectively. As of July 1, 2017, shares reserved for issuance under this plan totaled 566,155 shares and Snap-on held participant contributions of approximately $0.7 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. Expense for plan participants was $0.1 million for both the three and six months ended July 1, 2017, and $0.1 million of expense and $0.4 million of benefit for the respective three and six months ended July 2, 2016.

Earnings Per Share

6 Months Ended

Jul. 01, 2017

Earnings Per Share [Abstract]

Earnings Per Share

Note 13: Earnings Per Share

The shares used in the computation of the company’s basic and diluted earnings per common share are as follows:


	Three Months Ended				Six Months Ended
	July 1, 2017		July 2, 2016		July 1, 2017		July 2, 2016
Weighted-average common shares outstanding		57,790,299		58,103,518		57,865,481		58,108,014
Effect of dilutive securities		1,223,560		1,287,468		1,303,683		1,313,616

Weighted-average common shares outstanding, assuming dilution		59,013,859		59,390,986		59,169,164		59,421,630

The dilutive effect of the potential exercise of outstanding options and stock-settled SARs to purchase common shares is calculated using the treasury stock method. As of July 1, 2017, there were 722,015 awards outstanding that were anti-dilutive; as of July 2, 2016, there were 1,600 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.

Commitments and Contingencies

6 Months Ended

Jul. 01, 2017

Commitments and Contingencies Disclosure [Abstract]

Commitments and Contingencies

Note 14: 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 the three and six months ended July 1, 2017, and July 2, 2016, is as follows:


	Three Months Ended				Six Months Ended
(Amounts in millions)	July 1, 2017		July 2, 2016		July 1, 2017		July 2, 2016
Warranty reserve:
Beginning of period	$	17.1	$	16.5	$	16.0	$	16.4
Additions		5.6		3.0		9.3		6.0
Usage		(3.8)		(3.4)		(6.4)		(6.3)

End of period	$	18.9	$	16.1	$	18.9	$	16.1

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 these legal matters, management believes that the results of these legal matters will not have a material impact on Snap-on’s consolidated financial position, results of operations or cash flows.

Other Income (Expense) - Net

6 Months Ended

Jul. 01, 2017

Other Income and Expenses [Abstract]

Other Income (Expense) - Net

Note 15: Other Income (Expense) – Net

“Other income (expense) – net” on the accompanying Condensed Consolidated Statements of Earnings consists of the following:


	Three Months Ended				Six Months Ended
(Amounts in millions)	July 1, 2017		July 2, 2016		July 1, 2017		July 2, 2016
Interest income	$	0.1	$	0.2	$	0.2	$	0.3
Net foreign exchange gain (loss)		(2.0)		1.0		(3.7)		0.1
Other		–		–		(0.1)		0.1

Total other income (expense) – net	$	(1.9)	$	1.2	$	(3.6)	$	0.5

Accumulated Other Comprehensive Income (Loss)

6 Months Ended

Jul. 01, 2017

Equity [Abstract]

Accumulated Other Comprehensive Income (Loss)

Note 16: Accumulated Other Comprehensive Income (Loss)

The following is a summary of net changes in Accumulated OCI by component and net of tax for the three months ended July 1, 2017:


(Amounts in millions)	Foreign Currency Translation		Cash Flow Hedges		Defined Benefit Pension and Postretirement Plans		Total
Balance as of April 1, 2017	$	(179.6)	$	15.0	$	(285.8)	$	(450.4)
Other comprehensive income before reclassifications		49.4		–		–		49.4
Amounts reclassified from Accumulated OCI		–		(0.4)		4.4		4.0

Net other comprehensive income (loss)		49.4		(0.4)		4.4		53.4

Balance as of July 1, 2017	$	(130.2)	$	14.6	$	(281.4)	$	(397.0)

The following is a summary of net changes in Accumulated OCI by component and net of tax for the six months ended July 1, 2017:


(Amounts in millions)	Foreign Currency Translation		Cash Flow Hedges		Defined Benefit Pension and Postretirement Plans		Total
Balance as of December 31, 2016	$	(217.7)	$	9.2	$	(290.0)	$	(498.5)
Other comprehensive income before reclassifications		87.5		6.1		–		93.6
Amounts reclassified from Accumulated OCI		–		(0.7)		8.6		7.9

Net other comprehensive income		87.5		5.4		8.6		101.5

Balance as of July 1, 2017	$	(130.2)	$	14.6	$	(281.4)	$	(397.0)

The following is a summary of net changes in Accumulated OCI by component and net of tax for the three months ended July 2, 2016:


(Amounts in millions)	Foreign Currency Translation		Cash Flow Hedges		Defined Benefit Pension and Postretirement Plans		Total
Balance as of April 2, 2016	$	(98.6)	$	0.6	$	(242.1)	$	(340.1)
Other comprehensive loss before reclassifications		(34.9)		–		–		(34.9)
Amounts reclassified from Accumulated OCI		–		(0.1)		5.3		5.2

Net other comprehensive income (loss)		(34.9)		(0.1)		5.3		(29.7)

Balance as of July 2, 2016	$	(133.5)	$	0.5	$	(236.8)	$	(369.8)

The following is a summary of net changes in Accumulated OCI by component and net of tax for six months ended July 2, 2016:


(Amounts in millions)	Foreign Currency Translation		Cash Flow Hedges		Defined Benefit Pension and Postretirement Plans		Total
Balance as of January 2, 2016	$	(118.5)	$	0.7	$	(246.4)	$	(364.2)
Other comprehensive loss before reclassifications		(15.0)		–		–		(15.0)
Amounts reclassified from Accumulated OCI		–		(0.2)		9.6		9.4

Net other comprehensive income (loss)		(15.0)		(0.2)		9.6		(5.6)

Balance as of July 2, 2016	$	(133.5)	$	0.5	$	(236.8)	$	(369.8)

The reclassifications out of Accumulated OCI for the three and six month periods ended July 1, 2017, and July 2, 2016, are as follows:


	Amount Reclassified from Accumulated OCI
	Three Months Ended				Six Months Ended
Details about Accumulated OCI Components	July 1, 2017		July 2, 2016		July 1, 2017		July 2, 2016		Statement of Earnings Presentation

(Amounts in millions)
Gains on cash flow hedges:
Treasury locks	$	0.4	$	0.1	$	0.7	$	0.2	Interest expense
Income tax expense		–		–		–		–	Income tax expense

Net of tax		0.4		0.1		0.7		0.2


Amortization of net unrecognized losses and prior service credits		(6.7)		(8.3)		(13.2)		(15.1)	See footnote below*
Income tax benefit		2.3		3.0		4.6		5.5	Income tax expense

Net of tax		(4.4)		(5.3)		(8.6)		(9.6)

Total reclassifications for the period, net of tax	$	(4.0)	$	(5.2)	$	(7.9)	$	(9.4)

*	These Accumulated OCI components are included in the computation of net periodic pension and postretirement health care costs; see Note 10 and Note 11 for further information.

Segments

6 Months Ended

Jul. 01, 2017

Segment Reporting [Abstract]

Segments

Note 17: 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 dealership service and repair shops (“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. All significant intersegment amounts are eliminated to arrive at Snap-on’s consolidated financial results.

Financial Data by Segment:


	Three Months Ended				Six Months Ended
(Amounts in millions)	July 1, 2017		July 2, 2016		July 1, 2017		July 2, 2016
Net sales:
Commercial & Industrial Group	$	310.0	$	285.7	$	608.7	$	572.7
Snap-on Tools Group		413.8		416.7		823.2		819.2
Repair Systems & Information Group		338.1		295.2		656.9		574.0

Segment net sales		1,061.9		997.6		2,088.8		1,965.9
Intersegment eliminations		(140.5)		(125.3)		(280.3)		(259.4)

Total net sales	$	921.4	$	872.3	$	1,808.5	$	1,706.5
Financial Services revenue		77.7		69.3		154.5		135.6

Total revenues	$	999.1	$	941.6	$	1,963.0	$	1,842.1

Operating earnings:
Commercial & Industrial Group	$	42.7	$	39.3	$	84.3	$	80.4
Snap-on Tools Group		80.6		76.3		150.9		143.0
Repair Systems & Information Group		81.9		74.5		160.6		143.5
Financial Services		54.6		49.5		107.1		96.5

Segment operating earnings		259.8		239.6		502.9		463.4
Corporate		(21.5)		(23.7)		(42.6)		(45.1)

Operating earnings	$	238.3	$	215.9	$	460.3	$	418.3
Interest expense		(13.0)		(12.9)		(25.7)		(26.0)
Other income (expense) – net		(1.9)		1.2		(3.6)		0.5

Earnings before income taxes and equity earnings	$	223.4	$	204.2	$	431.0	$	392.8


(Amounts in millions)	July 1, 2017		December 31, 2016
Assets:
Commercial & Industrial Group	$	1,052.2	$	907.1
Snap-on Tools Group		700.8		668.1
Repair Systems & Information Group		1,286.4		1,211.0
Financial Services		1,886.6		1,789.7

Total assets from reportable segments	$	4,926.0	$	4,575.9
Corporate		213.6		212.3
Elimination of intersegment receivables		(72.5)		(65.0)

Total assets	$	5,067.1	$	4,723.2

Summary of Accounting Policies (Policies)	6 Months Ended
Summary of Accounting Policies (Policies)	Jul. 01, 2017
Accounting Policies [Abstract]
Principles of consolidation and presentation	Principles of consolidation and presentation The Condensed Consolidated Financial Statements include the accounts of Snap-on Incorporated and its wholly-owned and majority-owned subsidiaries (collectively, “Snap-on” or “the company”). These financial statements should be read in conjunction with, and have been prepared in conformity with, the accounting principles reflected in the consolidated financial statements and related notes included in Snap-on’s 2016 Annual Report on Form 10-K for the fiscal year ended December 31, 2016 (“2016 year end”). The company’s 2017 fiscal second quarter ended on July 1, 2017; the 2016 fiscal second quarter ended on July 2, 2016. Each of the company’s 2017 and 2016 fiscal first and second quarters contained 13 weeks of operating results. Snap-on accounts for investments in unconsolidated affiliates where Snap-on has a greater than 20% but less than 50% ownership interest under the equity method of accounting. Investments in unconsolidated affiliates of $17.4 million as of July 1, 2017, and $15.2 million as of December 31, 2016, are included in “Other assets” on the accompanying Condensed 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 and services to, unconsolidated affiliates. Purchases from unconsolidated affiliates were $2.7 million and $3.2 million in the respective fiscal second quarters of 2017 and 2016, and $5.7 million and $7.4 million in the respective first six months of 2017 and 2016. Sales to unconsolidated affiliates were $0.1 million and zero in the respective fiscal second quarters of 2017 and 2016, and $0.2 million and zero in the respective first six months of 2017 and 2016. The Condensed Consolidated Financial Statements do not include the accounts of the company’s independent franchisees. Snap-on’s Condensed Consolidated Financial Statements are prepared in conformity with generally accepted accounting principles in the United States of America (“GAAP”). All intercompany accounts and transactions have been eliminated. In the opinion of management, all adjustments (consisting of normal recurring adjustments) necessary for the fair presentation of the Condensed Consolidated Financial Statements for the three and six month periods ended July 1, 2017, and July 2, 2016, have been made. Interim results of operations are not necessarily indicative of the results to be expected for the full fiscal year.
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 9 for further information on financial instruments.
New Accounting Standards	New Accounting Standards In October 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2016-16, Income Taxes (Topic 740) – Intra-Entity Transfers of Assets Other Than Inventory. The ASU eliminates the requirement to defer the recognition of current and deferred income taxes for an intra-entity asset transfer until the asset has been sold to an outside party. Under the new guidance, an entity should recognize the income tax consequences of an intra-entity transfer of an asset other than inventory when the transfer occurs. The ASU is effective for fiscal years beginning after December 15, 2017, including interim periods within those fiscal years; early adoption is permitted as of the beginning of an annual reporting period for which financial statements (interim or annual) have not been issued or made available for issuance (i.e., the first interim period if an entity issues interim financial statements). The amendments in this ASU are to be applied on a modified retrospective basis through a cumulative-effect adjustment directly to retained earnings at the time of adoption. The company is currently assessing the impact this ASU will have on its consolidated financial statements. In August 2016, the FASB issued ASU No. 2016-15, Statement of Cash Flows (Topic 230), which adds and/or clarifies guidance on the classification of certain cash receipts and payments in the statement of cash flows. The new guidance is intended to reduce diversity in practice in how certain transactions are classified in the statement of cash flows. This ASU is effective for fiscal years beginning after December 15, 2017, including interim periods within those fiscal years; early adoption is permitted. The company is currently assessing the impact this ASU will have on its consolidated statements of cash flows. 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 decision-useful 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 ASU allows for early adoption as of the beginning of an interim or annual reporting period beginning after December 15, 2018. The company is currently assessing the impact this ASU will have on its consolidated financial statements. In May 2014, the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers (Topic 606) that, together with several subsequent updates, outlines a single comprehensive model for entities to use in accounting for revenue arising from contracts with customers and supersedes most current revenue recognition guidance, including industry-specific guidance. Topic 606 is based on the principle that an entity should recognize revenue to depict the transfer of goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. Topic 606 also requires additional disclosure about the nature, amount, timing and uncertainty of revenue and cash flows arising from customer contracts, including significant judgments and changes in judgments and assets recognized from costs incurred to fulfill a contract. Entities may early adopt Topic 606 only as of annual reporting periods beginning after December 15, 2016, including interim reporting periods within that reporting period. Entities have the option of adopting this standard using either a full retrospective approach or a modified retrospective approach (i.e., through a cumulative-effect adjustment directly to retained earnings at the time of adoption). Snap-on commenced its assessment of Topic 606 during the second half of 2014 and developed a comprehensive project plan that included representatives from across the company’s business segments. The project plan included analyzing the standard’s impact on the company’s various revenue streams, comparing its historical accounting policies and practices to the requirements of the new standard, and identifying potential differences from applying the requirements of the new standard to its contracts. The company is in the process of identifying and implementing appropriate changes to its business processes, systems and controls to support revenue recognition and disclosures under Topic 606. As of July 1, 2017, and subject to the potential effects of any new related ASUs issued by the FASB in the balance of 2017, as well as the company’s ongoing evaluation of new transactions and contracts, the company has substantially completed its evaluation of the expected impact of adopting Topic 606 and anticipates that the adoption of this standard will not have a significant impact on the company’s consolidated financial statements. The company presently expects to adopt Topic 606 at the beginning of its 2018 fiscal year using the modified retrospective approach. 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. This ASU, which supersedes most current lease guidance, affects any entity that enters into a lease (as that term is defined in the ASU), with some specified scope exemptions. ASU No. 2016-02 is effective for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years; the ASU allows for early adoption as of the beginning of an interim or annual reporting period. The company is currently assessing the impact this ASU will have on its consolidated financial statements. In March 2017, the FASB issued ASU No. 2017-07, Compensation – Retirement Benefits (Topic 715) – Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost, which provides additional guidance on the presentation of net periodic pension and postretirement benefit costs in the income statement and on the components eligible for capitalization. The amendments in this ASU require that an employer report the service cost component of the net periodic benefit costs in the same income statement line item as other compensation costs arising from services rendered by employees during the period. The non-service-cost components of net periodic benefit costs are to be presented in the income statement separately from the service cost components and outside a subtotal of income from operations. The ASU also allows for the capitalization of the service cost components, when applicable (i.e., as a cost of internally manufactured inventory or a self-constructed asset). The ASU is effective for annual periods beginning after December 15, 2017, including interim periods within those annual periods; early adoption is permitted as of the beginning of an annual period for which financial statements (interim or annual) have not been issued or made available for issuance. The amendments in this ASU are to be applied retrospectively. The company is currently assessing the impact this ASU will have on its consolidated financial statements. In January 2017, the FASB issued ASU No. 2017-04, Intangibles – Goodwill and Other (Topic 350) – Simplifying the Test for Goodwill Impairment, which eliminates the requirement to calculate the implied fair value of goodwill to measure a goodwill impairment charge. Instead, entities will record an impairment charge based on the excess of a reporting unit’s carrying amount over its fair value. Snap-on early adopted this ASU in the second quarter of 2017 in conjunction with its annual impairment test. The amendments in this ASU are to be applied on a prospective basis and the adoption did not have a significant impact on the company’s consolidated financial statements.

Acquisitions (Tables)

6 Months Ended

Jul. 01, 2017

Business Combinations [Abstract]

Summary of Provisional Values of Assets Acquired and Liabilities Assumed


(Amounts in millions)	Provisional Amounts as of October 31, 2016 (As Adjusted)
Assets acquired:
Cash	$	3.9
Trade and other accounts receivable		17.0
Inventories		18.3
Property and equipment		17.3
Goodwill		66.1
Other intangibles:
Customer relationships		27.2
Non-amortized trademarks		27.7
Other assets		6.0

Total assets acquired		183.5

Liabilities assumed:
Accounts payable		9.8
Deferred income tax liabilities		6.8
Accrued expenses		10.6
Pension liabilities		4.3

Total liabilities assumed		31.5

Net assets acquired	$	152.0

Receivables (Tables)

6 Months Ended

Jul. 01, 2017

Receivables [Abstract]

Components of Trade and Other Accounts Receivable

The components of Snap-on’s trade and other accounts receivable as of July 1, 2017, and December 31, 2016, are as follows:


(Amounts in millions)	July 1, 2017		December 31, 2016
Trade and other accounts receivable	$	659.0	$	612.8
Allowances for doubtful accounts		(13.7)		(14.0)

Total trade and other accounts receivable – net	$	645.3	$	598.8

Components of Current Finance and Contract Receivables

The components of Snap-on’s current finance and contract receivables as of July 1, 2017, and December 31, 2016, are as follows:


(Amounts in millions)	July 1, 2017		December 31, 2016
Finance receivables, net of unearned finance charges of $19.3 million and $17.0 million, respectively	$	513.0	$	488.1
Contract receivables, net of unearned finance charges of $16.5 million and $15.6 million, respectively		83.8		89.3

Total		596.8		577.4

Allowances for doubtful accounts:
Finance receivables		(16.5)		(15.6)
Contract receivables		(1.4)		(1.2)

Total		(17.9)		(16.8)

Total current finance and contract receivables – net	$	578.9	$	560.6


Finance receivables – net	$	496.5	$	472.5
Contract receivables – net		82.4		88.1

Total current finance and contract receivables – net	$	578.9	$	560.6

Components of Finance and Contract Receivables Beyond One Year

The components of Snap-on’s finance and contract receivables with payment terms beyond one year as of July 1, 2017, and December 31, 2016, are as follows:


(Amounts in millions)	July 1, 2017		December 31, 2016
Finance receivables, net of unearned finance charges of $15.1 million and $13.0 million, respectively	$	1,034.6	$	967.5
Contract receivables, net of unearned finance charges of $23.0 million and $21.5 million, respectively		302.8		289.4

Total		1,337.4		1,256.9

Allowances for doubtful accounts:
Finance receivables		(36.0)		(33.0)
Contract receivables		(3.4)		(2.7)

Total		(39.4)		(35.7)

Total long-term finance and contract receivables – net	$	1,298.0	$	1,221.2


Finance receivables – net	$	998.6	$	934.5
Contract receivables – net		299.4		286.7

Total long-term finance and contract receivables – net	$	1,298.0	$	1,221.2

Aging of Finance and Contract Receivables

The aging of finance and contract receivables as of July 1, 2017, and December 31, 2016, is as follows:


(Amounts in millions)	30-59 Days Past Due		60-90 Days Past Due		Greater Than 90 Days Past Due		Total Past Due		Total Not Past Due		Total		Greater Than 90 Days Past Due and Accruing
July 1, 2017:
Finance receivables	$	15.3	$	9.8	$	14.6	$	39.7	$	1,507.9	$	1,547.6	$	11.1
Contract receivables		1.4		0.8		1.7		3.9		382.7		386.6		0.7

December 31, 2016:
Finance receivables	$	15.1	$	9.8	$	17.0	$	41.9	$	1,413.7	$	1,455.6	$	13.2
Contract receivables		1.4		0.9		1.4		3.7		375.0		378.7		0.5

Schedule of Performing and Nonperforming Finance and Contract Receivables

The amount of performing and nonperforming finance and contract receivables based on payment activity as of July 1, 2017, and December 31, 2016, is as follows:


	July 1, 2017				December 31, 2016
(Amounts in millions)	Finance Receivables		Contract Receivables		Finance Receivables		Contract Receivables
Performing	$	1,524.3	$	384.3	$	1,430.7	$	376.7
Nonperforming		23.3		2.3		24.9		2.0

Total	$	1,547.6	$	386.6	$	1,455.6	$	378.7

Schedule of Finance and Contract Receivables on Nonaccrual Status

The amount of finance and contract receivables on nonaccrual status as of July 1, 2017, and December 31, 2016, is as follows:


(Amounts in millions)	July 1, 2017		December 31, 2016
Finance receivables	$	12.2	$	11.7
Contract receivables		1.6		1.5

Rollforward of Allowances for Doubtful Accounts for Finance and Contract Receivables

The following is a rollforward of the allowances for doubtful accounts for finance and contract receivables for the three and six months ended July 1, 2017:


	Three Months Ended July 1, 2017				Six Months Ended July 1, 2017
(Amounts in millions)	Finance Receivables		Contract Receivables		Finance Receivables		Contract Receivables
Allowances for doubtful accounts:
Beginning of period	$	50.5	$	4.7	$	48.6	$	3.9
Provision		12.8		0.6		25.8		1.9
Charge-offs		(12.5)		(0.6)		(25.4)		(1.2)
Recoveries		1.7		–		3.4		0.1
Currency translation		–		0.1		0.1		0.1

End of period	$	52.5	$	4.8	$	52.5	$	4.8

The following is a rollforward of the allowances for doubtful accounts for finance and contract receivables for the three and six months ended July 2, 2016:


	Three Months Ended July 2, 2016				Six Months Ended July 2, 2016
(Amounts in millions)	Finance Receivables		Contract Receivables		Finance Receivables		Contract Receivables
Allowances for doubtful accounts:
Beginning of period	$	39.9	$	4.6	$	38.2	$	4.4
Provision		10.3		0.2		19.6		0.6
Charge-offs		(9.2)		(0.3)		(18.8)		(0.7)
Recoveries		1.7		0.1		3.6		0.2
Currency translation		(0.1)		(0.1)		–		–

End of period	$	42.6	$	4.5	$	42.6	$	4.5

Inventories (Tables)

6 Months Ended

Jul. 01, 2017

Inventory Disclosure [Abstract]

Inventories by Major Classification

Inventories by major classification are as follows:


(Amounts in millions)	July 1, 2017		December 31, 2016
Finished goods	$	521.0	$	467.4
Work in progress		46.4		42.7
Raw materials		108.0		93.6

Total FIFO value		675.4		603.7
Excess of current cost over LIFO cost		(74.0)		(73.2)

Total inventories – net	$	601.4	$	530.5

Goodwill and Other Intangible Assets (Tables)

6 Months Ended

Jul. 01, 2017

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 the six months ended July 1, 2017, are as follows:


(Amounts in millions)	Commercial & Industrial Group		Snap-on Tools Group		Repair Systems & Information Group		Total
Balance as of December 31, 2016	$	242.4	$	12.5	$	640.6	$	895.5
Currency translation		19.2		–		14.3		33.5
Acquisitions and related adjustments		24.7		–		(54.5)		(29.8)

Balance as of July 1, 2017	$	286.3	$	12.5	$	600.4	$	899.2

Other Intangible Assets by Major Class

Additional disclosures related to other intangible assets are as follows:


	July 1, 2017				December 31, 2016
(Amounts in millions)	Gross Carrying Value		Accumulated Amortization		Gross Carrying Value		Accumulated Amortization
Amortized other intangible assets:
Customer relationships	$	173.0	$	(92.3)	$	142.6	$	(86.0)
Developed technology		18.7		(18.1)		17.7		(17.7)
Internally developed software		171.7		(125.8)		165.7		(118.3)
Patents		32.4		(22.1)		31.9		(21.5)
Trademarks		2.8		(1.9)		2.8		(1.8)
Other		7.5		(2.5)		7.2		(2.2)

Total		406.1		(262.7)		367.9		(247.5)
Non-amortized trademarks		112.9		–		64.2		–

Total other intangible assets	$	519.0	$	(262.7)	$	432.1	$	(247.5)

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
Internally developed software		3
Patents		8
Trademarks		6
Other		39

Short-term and Long-term Debt (Tables)

6 Months Ended

Jul. 01, 2017

Debt Disclosure [Abstract]

Short-term and Long-term Debt

Short-term and long-term debt as of July 1, 2017, and December 31, 2016, consisted of the following:


(Amounts in millions)	July 1, 2017		December 31, 2016
5.50% unsecured notes due 2017	$	–	$	150.0
4.25% unsecured notes due 2018		250.0		250.0
6.70% unsecured notes due 2019		200.0		200.0
6.125% unsecured notes due 2021		250.0		250.0
3.25% unsecured notes due 2027		300.0		–
Other debt*		105.8		160.2

		1,105.8		1,010.2

Less: notes payable and current maturities of long-term debt:
Current maturities of long-term debt		(250.0)		(150.0)
Commercial paper borrowings		(83.5)		(130.0)
Other notes		(16.7)		(21.4)

		(350.2)		(301.4)

Total long-term debt	$	755.6	$	708.8

*Includes fair value adjustments related to interest rate swaps, debt discounts and debt issuance costs.

Financial Instruments (Tables)

6 Months Ended

Jul. 01, 2017

Investments, All Other Investments [Abstract]

Fair Values of Derivative Instruments Included within Condensed Consolidated Balance Sheets

The fair value of derivative instruments included within the Condensed Consolidated Balance Sheets as of July 1, 2017, and December 31, 2016, are as follows:


			July 1, 2017				December 31, 2016
(Amounts in millions)	Balance Sheet Presentation		Asset Derivatives Fair Value		Liability Derivatives Fair Value		Asset Derivatives Fair Value		Liability Derivatives Fair Value
Derivatives designated as hedging instruments:
Interest rate swaps		Other assets	$	9.5	$	–	$	9.8	$	–
Treasury locks		Other assets		–		–		14.3		–

				9.5		–		24.1		–

Derivatives not designated as hedging instruments:
Foreign currency forwards		Prepaid expenses and other assets	$	11.3	$	–	$	4.4	$	–
Foreign currency forwards		Other accrued liabilities		–		3.0		–		13.5
Equity forwards		Prepaid expenses and other assets		17.1		–		17.9		–

Total				28.4		3.0		22.3		13.5

Total derivative instruments			$	37.9	$	3.0	$	46.4	$	13.5

Derivative Instruments Designated as Fair Value Hedges Included in Condensed Consolidated Statements of Earnings

The effect of derivative instruments designated as fair value hedges as included in the Condensed Consolidated Statements of Earnings is as follows:


			Effective Portion of Gain Recognized in Income
			Three months ended				Six months ended
(Amounts in millions)	Statement of Earnings Presentation		July 1, 2017		July 2, 2016		July 1, 2017		July 2, 2016
Derivatives designated as fair value hedges:
Interest rate swaps		Interest expense	$	0.7	$	0.8	$	1.4	$	1.5

Effect of Derivative Instruments Designated as Cash Flow Hedges Included in Accumulated OCI on Condensed Consolidated Balance Sheets and Condensed Consolidated Statements of Earnings

Effective Portion of Gain
Recognized in
Accumulated OCI
Three months ended

Statement of
Earnings
Presentation

Effective Portion of Gain
Reclassified from Accumulated
OCI into Income
Three months ended

(Amounts in millions)

July 1,
2017

July 2,
2016

July 1,
2017

July 2,
2016

Derivatives designated as cash flow hedges:

Treasury locks

–

Interest expense

0.4

0.1

Effective Portion of Gain
Recognized in
Accumulated OCI
Six months ended

Statement of
Earnings
Presentation

Effective Portion of Gain
Reclassified from Accumulated
OCI into Income
Six months ended

(Amounts in millions)

July 1,
2017

July 2,
2016

July 1,
2017

July 2,
2016

Derivatives designated as cash flow hedges:

Treasury locks

6.1

–

Interest expense

0.7

0.2

Derivative Instruments Not Designated as Hedges Included in Condensed Consolidated Statements of Earnings

The effects of derivative instruments not designated as hedging instruments as included in the Condensed Consolidated Statements of Earnings are as follows:


			Gain (Loss) Recognized in Income
			Three months ended				Six months ended
(Amounts in millions)	Statement of Earnings Presentation		July 1, 2017		July 2, 2016		July 1, 2017		July 2, 2016
Derivatives not designated as hedging instruments:
Foreign currency forwards		Other income (expense) – net	$	6.0	$	(5.0)	$	(3.9)	$	(4.2)
Equity forwards		Operating expenses		(1.1)		(0.1)		(1.3)		(0.7)

Fair Values of Financial Instruments Not Approximating Carrying Values in Financial Statements

Fair Value of Financial Instruments: The fair values of financial instruments that do not approximate the carrying values in the financial statements are as follows:


	July 1, 2017				December 31, 2016
(Amounts in millions)	Carrying Value		Fair Value		Carrying Value		Fair Value
Finance receivables – net	$	1,495.1	$	1,735.1	$	1,407.0	$	1,631.2
Contract receivables – net		381.8		419.3		374.8		409.7

Long-term debt, notes payable and current maturities of long-term debt		1,105.8		1,116.5		1,010.2		1,076.7

Pension Plans (Tables)

6 Months Ended

Jul. 01, 2017

Retirement Benefits [Abstract]

Net Periodic Pension Cost

Snap-on’s net periodic pension cost included the following components:


	Three Months Ended				Six Months Ended
(Amounts in millions)	July 1, 2017		July 2, 2016		July 1, 2017		July 2, 2016
Service cost	$	5.3	$	4.8	$	11.2	$	9.7
Interest cost		13.9		14.4		27.9		28.4
Expected return on plan assets		(20.9)		(20.7)		(41.0)		(40.4)
Amortization of unrecognized loss		7.0		8.5		13.9		15.7
Amortization of prior service credit		(0.3)		(0.3)		(0.6)		(0.6)

Net periodic pension cost	$	5.0	$	6.7	$	11.4	$	12.8

Postretirement Health Care Plans (Tables)

6 Months Ended

Jul. 01, 2017

Postemployment Benefits [Abstract]

Net Periodic Postretirement Health Care Cost

Snap-on’s net periodic postretirement health care cost included the following components:


	Three Months Ended				Six Months Ended
(Amounts in millions)	July 1, 2017		July 2, 2016		July 1, 2017		July 2, 2016
Interest cost	$	0.5	$	0.5	$	1.0	$	1.1
Expected return on plan assets		(0.2)		(0.2)		(0.4)		(0.4)
Amortization of unrecognized loss (gain)		–		0.1		(0.1)		–

Net periodic postretirement health care cost	$	0.3	$	0.4	$	0.5	$	0.7

Stock-based Compensation and Other Stock Plans (Tables)

6 Months Ended

Jul. 01, 2017

Summary of Weighted-Average Assumptions of Fair Value Granted Using Black-Scholes Valuation Model


	Six Months Ended
	July 1, 2017	July 2, 2016
Expected term of option (in years)	5.15	5.05
Expected volatility factor	22.01%	22.17%
Expected dividend yield	1.63%	1.77%
Risk-free interest rate	1.78%	1.04%

Summary of Stock Option Activity

A summary of stock option activity as of and for the six months ended July 1, 2017, is presented below:


	Shares (in thousands)		Exercise Price Per Share*		Remaining Contractual Term* (in years)		Aggregate Intrinsic Value (in millions)
Outstanding at December 31, 2016		3,011	$	100.78
Granted		655		168.71
Exercised		(253)		89.07
Forfeited or expired		(71)		153.52

Outstanding at July 1, 2017		3,342		113.86		6.8	$	154.2

Exercisable at July 1, 2017		2,133		90.60		5.5		143.7

* Weighted-average

Nonvested Performance Shares [Member]

Summary of Changes in Non-Vested Performance Awards

Changes to the company’s non-vested performance awards during the six months ended July 1, 2017, are as follows:


	Shares (in thousands)		Fair Value Price per Share*
Non-vested performance awards at December 31, 2016		207	$	141.94
Granted		77		168.70
Vested		(5)		142.78
Cancellations and other		(17)		147.78

Non-vested performance awards at July 1, 2017		262		149.31

* Weighted-average

Stock-Settled SARs [Member]

Summary of Weighted-Average Assumptions of Fair Value Granted Using Black-Scholes Valuation Model


	Six Months Ended
	July 1, 2017	July 2, 2016
Expected term of stock-settled SARs (in years)	3.99	4.03
Expected volatility factor	19.39%	20.09%
Expected dividend yield	1.46%	1.66%
Risk-free interest rate	1.55%	1.11%

Summary of Changes in SARs

Changes to the company’s stock-settled SARs during the six months ended July 1, 2017, are as follows:


	Stock-settled SARs (in thousands)		Exercise Price Per Share*		Remaining Contractual Term* (in years)		Aggregate Intrinsic Value (in millions)
Outstanding at December 31, 2016		303	$	125.38
Granted		100		168.73
Exercised		(8)		106.01
Forfeited or expired		(20)		123.06

Outstanding at July 1, 2017		375		137.52		8.1	$	8.8

Exercisable at July 1, 2017		179		118.55		7.1		7.1

* Weighted-average

Cash-Settled Stock Appreciation Rights [Member]

Summary of Weighted-Average Assumptions of Fair Value Granted Using Black-Scholes Valuation Model


	Six Months Ended
	July 1, 2017	July 2, 2016
Expected term of cash-settled SARs (in years)	3.62	3.68
Expected volatility factor	19.56%	19.20%
Expected dividend yield	1.55%	1.60%
Risk-free interest rate	1.55%	0.71%

Summary of Changes in SARs

Changes to the company’s non-vested cash-settled SARs during the six months ended July 1, 2017, are as follows:


	Cash-settled SARs (in thousands)		Fair Value Price per Share*
Non-vested cash-settled SARs at December 31, 2016		7	$	40.83
Granted		1		18.10
Vested		(3)		33.47

Non-vested cash-settled SARs at July 1, 2017		5		24.94

* Weighted-average

Earnings Per Share (Tables)

6 Months Ended

Jul. 01, 2017

Earnings Per Share [Abstract]

Computation of Basic and Diluted Earnings Per Common Share

The shares used in the computation of the company’s basic and diluted earnings per common share are as follows:


	Three Months Ended				Six Months Ended
	July 1, 2017		July 2, 2016		July 1, 2017		July 2, 2016
Weighted-average common shares outstanding		57,790,299		58,103,518		57,865,481		58,108,014
Effect of dilutive securities		1,223,560		1,287,468		1,303,683		1,313,616

Weighted-average common shares outstanding, assuming dilution		59,013,859		59,390,986		59,169,164		59,421,630

Commitments and Contingencies (Tables)

6 Months Ended

Jul. 01, 2017

Commitments and Contingencies Disclosure [Abstract]

Summary of Product Warranty Accrual Activity

Snap-on’s product warranty accrual activity for the three and six months ended July 1, 2017, and July 2, 2016, is as follows:


	Three Months Ended				Six Months Ended
(Amounts in millions)	July 1, 2017		July 2, 2016		July 1, 2017		July 2, 2016
Warranty reserve:
Beginning of period	$	17.1	$	16.5	$	16.0	$	16.4
Additions		5.6		3.0		9.3		6.0
Usage		(3.8)		(3.4)		(6.4)		(6.3)

End of period	$	18.9	$	16.1	$	18.9	$	16.1

Other Income (Expense) - Net (Tables)

6 Months Ended

Jul. 01, 2017

Other Income and Expenses [Abstract]

Computation of Other Income (Expense) - Net

“Other income (expense) – net” on the accompanying Condensed Consolidated Statements of Earnings consists of the following:


	Three Months Ended				Six Months Ended
(Amounts in millions)	July 1, 2017		July 2, 2016		July 1, 2017		July 2, 2016
Interest income	$	0.1	$	0.2	$	0.2	$	0.3
Net foreign exchange gain (loss)		(2.0)		1.0		(3.7)		0.1
Other		–		–		(0.1)		0.1

Total other income (expense) – net	$	(1.9)	$	1.2	$	(3.6)	$	0.5

Accumulated Other Comprehensive Income (Loss) (Tables)

6 Months Ended

Jul. 01, 2017

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 the three months ended July 1, 2017:


(Amounts in millions)	Foreign Currency Translation		Cash Flow Hedges		Defined Benefit Pension and Postretirement Plans		Total
Balance as of April 1, 2017	$	(179.6)	$	15.0	$	(285.8)	$	(450.4)
Other comprehensive income before reclassifications		49.4		–		–		49.4
Amounts reclassified from Accumulated OCI		–		(0.4)		4.4		4.0

Net other comprehensive income (loss)		49.4		(0.4)		4.4		53.4

Balance as of July 1, 2017	$	(130.2)	$	14.6	$	(281.4)	$	(397.0)

The following is a summary of net changes in Accumulated OCI by component and net of tax for the six months ended July 1, 2017:


(Amounts in millions)	Foreign Currency Translation		Cash Flow Hedges		Defined Benefit Pension and Postretirement Plans		Total
Balance as of December 31, 2016	$	(217.7)	$	9.2	$	(290.0)	$	(498.5)
Other comprehensive income before reclassifications		87.5		6.1		–		93.6
Amounts reclassified from Accumulated OCI		–		(0.7)		8.6		7.9

Net other comprehensive income		87.5		5.4		8.6		101.5

Balance as of July 1, 2017	$	(130.2)	$	14.6	$	(281.4)	$	(397.0)

The following is a summary of net changes in Accumulated OCI by component and net of tax for the three months ended July 2, 2016:


(Amounts in millions)	Foreign Currency Translation		Cash Flow Hedges		Defined Benefit Pension and Postretirement Plans		Total
Balance as of April 2, 2016	$	(98.6)	$	0.6	$	(242.1)	$	(340.1)
Other comprehensive loss before reclassifications		(34.9)		–		–		(34.9)
Amounts reclassified from Accumulated OCI		–		(0.1)		5.3		5.2

Net other comprehensive income (loss)		(34.9)		(0.1)		5.3		(29.7)

Balance as of July 2, 2016	$	(133.5)	$	0.5	$	(236.8)	$	(369.8)

The following is a summary of net changes in Accumulated OCI by component and net of tax for six months ended July 2, 2016:


(Amounts in millions)	Foreign Currency Translation		Cash Flow Hedges		Defined Benefit Pension and Postretirement Plans		Total
Balance as of January 2, 2016	$	(118.5)	$	0.7	$	(246.4)	$	(364.2)
Other comprehensive loss before reclassifications		(15.0)		–		–		(15.0)
Amounts reclassified from Accumulated OCI		–		(0.2)		9.6		9.4

Net other comprehensive income (loss)		(15.0)		(0.2)		9.6		(5.6)

Balance as of July 2, 2016	$	(133.5)	$	0.5	$	(236.8)	$	(369.8)

Reclassifications Out of Accumulated OCI

The reclassifications out of Accumulated OCI for the three and six month periods ended July 1, 2017, and July 2, 2016, are as follows:


	Amount Reclassified from Accumulated OCI
	Three Months Ended				Six Months Ended
Details about Accumulated OCI Components	July 1, 2017		July 2, 2016		July 1, 2017		July 2, 2016		Statement of Earnings Presentation

(Amounts in millions)
Gains on cash flow hedges:
Treasury locks	$	0.4	$	0.1	$	0.7	$	0.2	Interest expense
Income tax expense		–		–		–		–	Income tax expense

Net of tax		0.4		0.1		0.7		0.2


Amortization of net unrecognized losses and prior service credits		(6.7)		(8.3)		(13.2)		(15.1)	See footnote below*
Income tax benefit		2.3		3.0		4.6		5.5	Income tax expense

Net of tax		(4.4)		(5.3)		(8.6)		(9.6)

Total reclassifications for the period, net of tax	$	(4.0)	$	(5.2)	$	(7.9)	$	(9.4)

*	These Accumulated OCI components are included in the computation of net periodic pension and postretirement health care costs; see Note 10 and Note 11 for further information.

Segments (Tables)

6 Months Ended

Jul. 01, 2017

Segment Reporting [Abstract]

Net Sales by Segment

Financial Data by Segment:


	Three Months Ended				Six Months Ended
(Amounts in millions)	July 1, 2017		July 2, 2016		July 1, 2017		July 2, 2016
Net sales:
Commercial & Industrial Group	$	310.0	$	285.7	$	608.7	$	572.7
Snap-on Tools Group		413.8		416.7		823.2		819.2
Repair Systems & Information Group		338.1		295.2		656.9		574.0

Segment net sales		1,061.9		997.6		2,088.8		1,965.9
Intersegment eliminations		(140.5)		(125.3)		(280.3)		(259.4)

Total net sales	$	921.4	$	872.3	$	1,808.5	$	1,706.5
Financial Services revenue		77.7		69.3		154.5		135.6

Total revenues	$	999.1	$	941.6	$	1,963.0	$	1,842.1

Operating earnings:
Commercial & Industrial Group	$	42.7	$	39.3	$	84.3	$	80.4
Snap-on Tools Group		80.6		76.3		150.9		143.0
Repair Systems & Information Group		81.9		74.5		160.6		143.5
Financial Services		54.6		49.5		107.1		96.5

Segment operating earnings		259.8		239.6		502.9		463.4
Corporate		(21.5)		(23.7)		(42.6)		(45.1)

Operating earnings	$	238.3	$	215.9	$	460.3	$	418.3
Interest expense		(13.0)		(12.9)		(25.7)		(26.0)
Other income (expense) – net		(1.9)		1.2		(3.6)		0.5

Earnings before income taxes and equity earnings	$	223.4	$	204.2	$	431.0	$	392.8

Assets by Segment


(Amounts in millions)	July 1, 2017		December 31, 2016
Assets:
Commercial & Industrial Group	$	1,052.2	$	907.1
Snap-on Tools Group		700.8		668.1
Repair Systems & Information Group		1,286.4		1,211.0
Financial Services		1,886.6		1,789.7

Total assets from reportable segments	$	4,926.0	$	4,575.9
Corporate		213.6		212.3
Elimination of intersegment receivables		(72.5)		(65.0)

Total assets	$	5,067.1	$	4,723.2

Summary of Accounting Policies - Additional Information (Detail) - Unconsolidated Affiliates [Member] - USD ($)	3 Months Ended		6 Months Ended
	Jul. 01, 2017	Jul. 02, 2016	Jul. 01, 2017	Jul. 02, 2016	Dec. 31, 2016
Summary Of Accounting Policies [Line Items]
Investments in unconsolidated affiliates	$ 17,400,000		$ 17,400,000		$ 15,200,000
Purchases from unconsolidated affiliates	2,700,000	$ 3,200,000	5,700,000	$ 7,400,000
Sales to unconsolidated affiliates	$ 100,000	$ 0.0	$ 200,000	$ 0.0
Minimum [Member]
Summary Of Accounting Policies [Line Items]
Percentage of ownership interest under equity method accounting	20.00%		20.00%
Maximum [Member]
Summary Of Accounting Policies [Line Items]
Percentage of ownership interest under equity method accounting	50.00%		50.00%

Acquisitions - Additional Information (Detail) - USD ($) $ in Millions					3 Months Ended		6 Months Ended
	May 04, 2017	Jan. 30, 2017	Nov. 16, 2016	Oct. 31, 2016	Jul. 01, 2017	Jul. 02, 2016	Jul. 01, 2017	Jul. 02, 2016	Dec. 31, 2016
Business Acquisition [Line Items]
Cash purchase price of acquisition, net of cash acquired							$ 80.2
Goodwill					$ 899.2		899.2		$ 895.5
Operating expenses					279.3	$ 264.9	557.8	$ 524.8
Norbar [Member]
Business Acquisition [Line Items]
Cash purchase price of acquisition	$ 72.4
Cash purchase price of acquisition, net of cash acquired	$ 70.7
Goodwill					24.5		24.5
BTC [Member]
Business Acquisition [Line Items]
Cash purchase price of acquisition, net of cash acquired		$ 9.2
Goodwill					5.9		5.9
BTC [Member] \| Trademarks [Member]
Business Acquisition [Line Items]
Non-amortized trademark					2.0
Ryeson Corporation [Member]
Business Acquisition [Line Items]
Cash purchase price of acquisition			$ 13.0
Cash purchase price of acquisition, net of cash acquired			$ 12.6
Goodwill					5.0		5.0
Working capital adjustment							0.1
Ryeson Corporation [Member] \| Trademarks [Member]
Business Acquisition [Line Items]
Non-amortized trademark							3.7
Car-O-Liner Holding AB [Member]
Business Acquisition [Line Items]
Cash purchase price of acquisition				$ 152.0
Cash purchase price of acquisition, net of cash acquired				$ 148.1
Goodwill					66.1		66.1
Working capital adjustment							0.2
Pretax benefit/expense					$ 0.1		(0.5)
Cost of goods sold							0.2
Operating expenses							$ 0.3

Acquisitions - Summary of Provisional Values of Assets Acquired and Liabilities Assumed (Detail) - USD ($) $ in Millions	Oct. 31, 2016	Jul. 01, 2017	Dec. 31, 2016
Assets acquired:
Goodwill		$ 899.2	$ 895.5
Car-O-Liner Holding AB [Member]
Assets acquired:
Goodwill		$ 66.1
Liabilities assumed:
Net assets acquired	$ 152.0
Car-O-Liner Holding AB [Member] \| Provisional [Member]
Assets acquired:
Cash	3.9
Trade and other accounts receivable	17.0
Inventories	18.3
Property and equipment	17.3
Goodwill	66.1
Other intangibles:
Customer relationships	27.2
Non-amortized trademarks	27.7
Other assets	6.0
Total assets acquired	183.5
Liabilities assumed:
Accounts payable	9.8
Deferred income tax liabilities	6.8
Accrued expenses	10.6
Pension liabilities	4.3
Total liabilities assumed	31.5
Net assets acquired	$ 152.0

Receivables - Additional Information (Detail) - USD ($) $ in Millions	6 Months Ended
	Jul. 01, 2017	Dec. 31, 2016
Receivables [Abstract]
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 finance receivables (in years)	4 years
Maximum payment term for contract receivables (in years)	10 years
Minimum period past due to consider receivable balances as delinquent (days)	30 days
Minimum period past due to consider non-accrual finance receivables nonperforming (days)	90 days
Minimum period past due to declare receivable as non-accrual status (days)	90 days
Impaired finance receivables	$ 23.3	$ 24.9
Impaired contract receivables	$ 2.3	$ 2.0

Receivables - Components of Trade and Other Accounts Receivable (Detail) - USD ($) $ in Millions	Jul. 01, 2017	Dec. 31, 2016
Receivables [Abstract]
Trade and other accounts receivable	$ 659.0	$ 612.8
Allowances for doubtful accounts	(13.7)	(14.0)
Total trade and other accounts receivable - net	$ 645.3	$ 598.8

Receivables - Components of Current Finance and Contract Receivables (Detail) - USD ($) $ in Millions	Jul. 01, 2017	Dec. 31, 2016
Receivables [Abstract]
Finance receivables, net of unearned finance charges of $19.3 million and $17.0 million, respectively	$ 513.0	$ 488.1
Contract receivables, net of unearned finance charges of $16.5 million and $15.6 million, respectively	83.8	89.3
Total	596.8	577.4
Allowances for doubtful accounts, finance receivables	(16.5)	(15.6)
Allowances for doubtful accounts, contract receivables	(1.4)	(1.2)
Total	(17.9)	(16.8)
Total current finance and contract receivables - net	578.9	560.6
Finance receivables - net	496.5	472.5
Contract receivables - net	82.4	88.1
Total current finance and contract receivables - net	$ 578.9	$ 560.6

Receivables - Components of Current Finance and Contract Receivables (Parenthetical) (Detail) - USD ($) $ in Millions	Jul. 01, 2017	Dec. 31, 2016
Receivables [Abstract]
Unearned finance charges, finance receivables	$ 19.3	$ 17.0
Unearned finance charges, contract receivable	$ 16.5	$ 15.6

Receivables - Components of Finance and Contract Receivables Beyond One Year (Detail) - USD ($) $ in Millions	Jul. 01, 2017	Dec. 31, 2016
Receivables [Abstract]
Finance receivables, net of unearned finance charges of $15.1 million and $13.0 million, respectively	$ 1,034.6	$ 967.5
Contract receivables, net of unearned finance charges of $23.0 million and $21.5 million, respectively	302.8	289.4
Total	1,337.4	1,256.9
Allowances for doubtful accounts, finance receivables	(36.0)	(33.0)
Allowances for doubtful accounts, contract receivables	(3.4)	(2.7)
Total	(39.4)	(35.7)
Total long-term finance and contract receivables - net	1,298.0	1,221.2
Finance receivables - net	998.6	934.5
Contract receivables - net	299.4	286.7
Total long-term finance and contract receivables - net	$ 1,298.0	$ 1,221.2

Receivables - Components of Finance and Contract Receivables Beyond One Year (Parenthetical) (Detail) - USD ($) $ in Millions	Jul. 01, 2017	Dec. 31, 2016
Receivables [Abstract]
Unearned finance charges, finance receivables	$ 15.1	$ 13.0
Unearned finance charges, contract receivable	$ 23.0	$ 21.5

Receivables - Aging of Finance and Contract Receivables (Detail) - USD ($) $ in Millions	Jul. 01, 2017	Dec. 31, 2016
Receivables [Abstract]
Finance receivables, 30-59 Days Past Due	$ 15.3	$ 15.1
Finance receivables, 60-90 Days Past Due	9.8	9.8
Finance receivables, Greater Than 90 Days Past Due	14.6	17.0
Finance receivables, Total Past Due	39.7	41.9
Finance receivables, Total Not Past Due	1,507.9	1,413.7
Finance receivables, Total	1,547.6	1,455.6
Finance receivables, Greater Than 90 Days Past Due and Accruing	11.1	13.2
Contract receivables, 30-59 Days Past Due	1.4	1.4
Contract receivables, 60-90 Days Past Due	0.8	0.9
Contract receivables, Greater Than 90 Days Past Due	1.7	1.4
Contract receivables, Total Past Due	3.9	3.7
Contract receivables, Total Not Past Due	382.7	375.0
Contract receivables, Total	386.6	378.7
Contract receivables, Greater Than 90 Days Past Due and Accruing	$ 0.7	$ 0.5

Receivables - Schedule of Performing and Nonperforming Finance and Contract Receivables (Detail) - USD ($) $ in Millions	Jul. 01, 2017	Dec. 31, 2016
Financing Receivable, Recorded Investment [Line Items]
Finance Receivables	$ 1,547.6	$ 1,455.6
Contract Receivables	386.6	378.7
Performing [Member]
Financing Receivable, Recorded Investment [Line Items]
Finance Receivables	1,524.3	1,430.7
Contract Receivables	384.3	376.7
Nonperforming [Member]
Financing Receivable, Recorded Investment [Line Items]
Finance Receivables	23.3	24.9
Contract Receivables	$ 2.3	$ 2.0

Receivables - Rollforward of Allowances for Doubtful Accounts for Finance and Contract Receivables (Detail) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jul. 01, 2017	Jul. 02, 2016	Jul. 01, 2017	Jul. 02, 2016
Receivables [Abstract]
Finance receivables, Allowance for doubtful accounts, Beginning of year	$ 50.5	$ 39.9	$ 48.6	$ 38.2
Finance receivables, Provision	12.8	10.3	25.8	19.6
Finance receivables, Charge-offs	(12.5)	(9.2)	(25.4)	(18.8)
Finance receivables, Recoveries	1.7	1.7	3.4	3.6
Finance receivables, Currency Translation		(0.1)	0.1
Finance receivables, Allowance for doubtful accounts, End of period	52.5	42.6	52.5	42.6
Contract receivables, Allowance for doubtful accounts, Beginning of year	4.7	4.6	3.9	4.4
Contract receivables, Provision	0.6	0.2	1.9	0.6
Contract receivables, Charge-offs	(0.6)	(0.3)	(1.2)	(0.7)
Contract receivables, Recoveries		0.1	0.1	0.2
Contract receivables, Currency Translation	0.1	(0.1)	0.1
Contract receivables, Allowance for doubtful accounts, End of period	$ 4.8	$ 4.5	$ 4.8	$ 4.5

Inventories - Inventories by Major Classification (Detail) - USD ($) $ in Millions	Jul. 01, 2017	Dec. 31, 2016
Inventory Disclosure [Abstract]
Finished goods	$ 521.0	$ 467.4
Work in progress	46.4	42.7
Raw materials	108.0	93.6
Total FIFO value	675.4	603.7
Excess of current cost over LIFO cost	(74.0)	(73.2)
Total inventories - net	$ 601.4	$ 530.5

Inventories - Additional Information (Detail) - USD ($)	3 Months Ended		6 Months Ended
Inventories - Additional Information (Detail) - USD ($)	Jul. 01, 2017	Jul. 02, 2016	Jul. 01, 2017	Jul. 02, 2016	Dec. 31, 2016
Geographic Valuation Methodologies Of Inventory [Line Items]
Effect of LIFO inventory liquidation on income	$ 0	$ 0	$ 0	$ 0
Foreign and US Countries [Member]
Geographic Valuation Methodologies Of Inventory [Line Items]
Percentage of FIFO Inventory	60.00%		60.00%		59.00%
United States [Member]
Geographic Valuation Methodologies Of Inventory [Line Items]
Percentage of FIFO Inventory	32.00%		32.00%
Percentage of LIFO Inventory	68.00%		68.00%

Goodwill and Other Intangible Assets - Changes in Carrying Amount of Goodwill by Segment (Detail) $ in Millions	6 Months Ended
	Jul. 01, 2017 USD ($)
Goodwill [Line Items]
Beginning Balance	$ 895.5
Currency translation	33.5
Acquisitions and related adjustments	(29.8)
Ending Balance	899.2
Commercial & Industrial Group [Member]
Goodwill [Line Items]
Beginning Balance	242.4
Currency translation	19.2
Acquisitions and related adjustments	24.7
Ending Balance	286.3
Snap-on Tools Group [Member]
Goodwill [Line Items]
Beginning Balance	12.5
Ending Balance	12.5
Repair Systems & Information Group [Member]
Goodwill [Line Items]
Beginning Balance	640.6
Currency translation	14.3
Acquisitions and related adjustments	(54.5)
Ending Balance	$ 600.4

Goodwill and Other Intangible Assets - Additional Information (Detail) - USD ($)	3 Months Ended		6 Months Ended
	Jul. 01, 2017	Jul. 02, 2016	Jul. 01, 2017	Jul. 02, 2016	Dec. 31, 2016
Acquired Finite And Indefinite Lived Intangible Assets [Line Items]
Goodwill	$ 899,200,000		$ 899,200,000		$ 895,500,000
Gross carrying value, Total	406,100,000		406,100,000		367,900,000
Non-amortized trademarks	112,900,000		112,900,000		64,200,000
Accumulated impairment losses	0		$ 0
Weighted-average amortization period (in years)			11 years
Aggregate amortization expense	6,500,000	$ 6,200,000	$ 13,600,000	$ 12,300,000
Estimated annual amortization expense for fiscal period 2017	26,900,000		26,900,000
Estimated annual amortization expense for fiscal period 2018	24,400,000		24,400,000
Estimated annual amortization expense for fiscal period 2019	21,300,000		21,300,000
Estimated annual amortization expense for fiscal period 2020	17,600,000		17,600,000
Estimated annual amortization expense for fiscal period 2021	14,400,000		14,400,000
Estimated annual amortization expense for fiscal period 2022	9,600,000		9,600,000
Repair Systems & Information Group [Member]
Acquired Finite And Indefinite Lived Intangible Assets [Line Items]
Goodwill	600,400,000		600,400,000		640,600,000
Commercial & Industrial Group [Member]
Acquired Finite And Indefinite Lived Intangible Assets [Line Items]
Goodwill	286,300,000		286,300,000		242,400,000
BTC [Member]
Acquired Finite And Indefinite Lived Intangible Assets [Line Items]
Goodwill	5,900,000		5,900,000
Car-O-Liner Holding AB [Member]
Acquired Finite And Indefinite Lived Intangible Assets [Line Items]
Goodwill	66,100,000		66,100,000
Car-O-Liner Holding AB [Member] \| Repair Systems & Information Group [Member]
Acquired Finite And Indefinite Lived Intangible Assets [Line Items]
Goodwill	65,200,000		65,200,000
Car-O-Liner Holding AB [Member] \| Commercial & Industrial Group [Member]
Acquired Finite And Indefinite Lived Intangible Assets [Line Items]
Goodwill	900,000		900,000
Car-O-Liner Holding AB [Member] \| Trademarks [Member]
Acquired Finite And Indefinite Lived Intangible Assets [Line Items]
Gross carrying value, Total			28,900,000
Ryeson Corporation [Member]
Acquired Finite And Indefinite Lived Intangible Assets [Line Items]
Goodwill	5,000,000		5,000,000
Norbar [Member]
Acquired Finite And Indefinite Lived Intangible Assets [Line Items]
Goodwill	24,500,000		24,500,000
Customer relationships [Member]
Acquired Finite And Indefinite Lived Intangible Assets [Line Items]
Gross carrying value, Total	173,000,000		$ 173,000,000		$ 142,600,000
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 [Member] \| BTC [Member]
Acquired Finite And Indefinite Lived Intangible Assets [Line Items]
Gross carrying value, Total	1,200,000		$ 1,200,000
Customer relationships [Member] \| Car-O-Liner Holding AB [Member]
Acquired Finite And Indefinite Lived Intangible Assets [Line Items]
Gross carrying value, Total	27,200,000		27,200,000
Customer relationships [Member] \| Norbar [Member]
Acquired Finite And Indefinite Lived Intangible Assets [Line Items]
Gross carrying value, Total	$ 1,000,000		1,000,000
BTC [Member] \| Trademarks [Member]
Acquired Finite And Indefinite Lived Intangible Assets [Line Items]
Gross carrying value, Total			2,000,000
Norbar [Member] \| Trademarks [Member]
Acquired Finite And Indefinite Lived Intangible Assets [Line Items]
Gross carrying value, Total			$ 16,300,000

Goodwill and Other Intangible Assets - Other Intangible Assets by Major Class (Detail) - USD ($) $ in Millions	Jul. 01, 2017	Dec. 31, 2016
Finite-Lived Intangible Assets [Line Items]
Gross carrying value, Total	$ 406.1	$ 367.9
Non-amortized trademarks	112.9	64.2
Total other intangible assets	519.0	432.1
Accumulated Amortization, Total	(262.7)	(247.5)
Total other intangible assets	(262.7)	(247.5)
Customer relationships [Member]
Finite-Lived Intangible Assets [Line Items]
Gross carrying value, Total	173.0	142.6
Accumulated Amortization, Total	(92.3)	(86.0)
Developed technology [Member]
Finite-Lived Intangible Assets [Line Items]
Gross carrying value, Total	18.7	17.7
Accumulated Amortization, Total	(18.1)	(17.7)
Internally developed software [Member]
Finite-Lived Intangible Assets [Line Items]
Gross carrying value, Total	171.7	165.7
Accumulated Amortization, Total	(125.8)	(118.3)
Patents [Member]
Finite-Lived Intangible Assets [Line Items]
Gross carrying value, Total	32.4	31.9
Accumulated Amortization, Total	(22.1)	(21.5)
Trademarks [Member]
Finite-Lived Intangible Assets [Line Items]
Gross carrying value, Total	2.8	2.8
Accumulated Amortization, Total	(1.9)	(1.8)
Other [Member]
Finite-Lived Intangible Assets [Line Items]
Gross carrying value, Total	7.5	7.2
Accumulated Amortization, Total	$ (2.5)	$ (2.2)

Goodwill and Other Intangible Assets - Weighted-Average Amortization Period by Major Class (Detail)	6 Months Ended
	Jul. 01, 2017
Finite-Lived Intangible Assets [Line Items]
Weighted-average amortization period (in years)	11 years
Customer relationships [Member]
Finite-Lived Intangible Assets [Line Items]
Weighted-average amortization period (in years)	15 years
Internally developed software [Member]
Finite-Lived Intangible Assets [Line Items]
Weighted-average amortization period (in years)	3 years
Patents [Member]
Finite-Lived Intangible Assets [Line Items]
Weighted-average amortization period (in years)	8 years
Trademarks [Member]
Finite-Lived Intangible Assets [Line Items]
Weighted-average amortization period (in years)	6 years
Other [Member]
Finite-Lived Intangible Assets [Line Items]
Weighted-average amortization period (in years)	39 years

Exit and Disposal Activities - Additional Information (Detail) - USD ($)	3 Months Ended		6 Months Ended
	Jul. 01, 2017	Jul. 02, 2016	Jul. 01, 2017	Jul. 02, 2016
Restructuring and Related Activities [Abstract]
Exit and disposal costs	$ 0	$ 900,000	$ 0	$ 900,000
Exit and disposal accrual	$ 1,100,000		$ 1,100,000

Income Taxes - Additional Information (Detail) - USD ($)	6 Months Ended
	Jul. 01, 2017	Jul. 02, 2016
Income Tax [Line Items]
Effective income tax rate	30.60%	31.00%
Minimum [Member]
Income Tax [Line Items]
Decrease in unrecognized tax benefits	$ 0
Increase in unrecognized tax benefits	0
Maximum [Member]
Income Tax [Line Items]
Decrease in unrecognized tax benefits	3,700,000
Increase in unrecognized tax benefits	$ 1,200,000

Short-term and Long-term Debt - Short-term and Long-term Debt (Detail) - USD ($) $ in Millions	Jul. 01, 2017	Dec. 31, 2016
Schedule Of Debt Instruments [Line Items]
Other debt	$ 105.8	$ 160.2
Unsecured notes	250.0	150.0
Long-term debt including current maturities	1,105.8	1,010.2
Less: notes payable and current maturities of long-term debt:
Current maturities of long-term debt	(250.0)	(150.0)
Commercial paper borrowings	(83.5)	(130.0)
Other notes	(16.7)	(21.4)
Notes payable and current maturities of long-term debt	(350.2)	(301.4)
Total long-term debt	755.6	708.8
Long-term debt including current maturities	1,105.8	1,010.2
5.50% Unsecured Notes Due 2017 [Member]
Schedule Of Debt Instruments [Line Items]
Unsecured notes		150.0
Less: notes payable and current maturities of long-term debt:
Current maturities of long-term debt		(150.0)
4.25% Unsecured Notes Due 2018 [Member]
Schedule Of Debt Instruments [Line Items]
Unsecured notes	250.0	250.0
6.70% Unsecured Notes Due 2019 [Member]
Schedule Of Debt Instruments [Line Items]
Unsecured notes	200.0	200.0
6.125% Unsecured Notes Due 2021 [Member]
Schedule Of Debt Instruments [Line Items]
Unsecured notes	250.0	$ 250.0
3.25% Unsecured Notes Due 2027 [Member]
Schedule Of Debt Instruments [Line Items]
Unsecured notes	$ 300.0

Short-term and Long-term Debt - Short-term and Long-term Debt (Parenthetical) (Detail)	6 Months Ended	12 Months Ended
	Jul. 01, 2017	Dec. 31, 2016	Feb. 15, 2017
5.50% Unsecured Notes Due 2017 [Member]
Schedule Of Debt Instruments [Line Items]
Unsecured notes, interest rate	5.50%	5.50%
Unsecured notes, maturity year	2017	2017
4.25% Unsecured Notes Due 2018 [Member]
Schedule Of Debt Instruments [Line Items]
Unsecured notes, interest rate	4.25%	4.25%
Unsecured notes, maturity year	2018	2018
6.70% Unsecured Notes Due 2019 [Member]
Schedule Of Debt Instruments [Line Items]
Unsecured notes, interest rate	6.70%	6.70%
Unsecured notes, maturity year	2019	2019
6.125% Unsecured Notes Due 2021 [Member]
Schedule Of Debt Instruments [Line Items]
Unsecured notes, interest rate	6.125%	6.125%
Unsecured notes, maturity year	2021	2021
3.25% Unsecured Notes Due 2027 [Member]
Schedule Of Debt Instruments [Line Items]
Unsecured notes, interest rate	3.25%	3.25%	3.25%
Unsecured notes, maturity year	2027	2027

Short-term and Long-term Debt - Additional Information (Detail)		6 Months Ended	12 Months Ended
	Feb. 15, 2017 USD ($)	Jul. 01, 2017 USD ($)	Dec. 31, 2016 USD ($)
Schedule Of Debt Instruments [Line Items]
Notes payable and current maturities of long-term debt		$ 350,200,000	$ 301,400,000
Other notes payable		16,700,000	21,400,000
Unsecured notes		250,000,000	150,000,000
Commercial paper outstanding		83,500,000	$ 130,000,000
Proceeds from sale of unsecured long-term notes		$ 297,800,000
5.50% Unsecured Notes Due 2017 [Member]
Schedule Of Debt Instruments [Line Items]
Unsecured notes, interest rate		5.50%	5.50%
Unsecured notes, maturity period			Jan. 31, 2017
Unsecured notes			$ 150,000,000
4.25% Unsecured Notes Due 2018 [Member]
Schedule Of Debt Instruments [Line Items]
Unsecured notes		$ 250,000,000	$ 250,000,000
Unsecured notes, interest rate		4.25%	4.25%
Unsecured notes, maturity period		Jan. 15, 2018
3.25% Unsecured Notes Due 2027 [Member]
Schedule Of Debt Instruments [Line Items]
Unsecured notes		$ 300,000,000
Unsecured notes, interest rate	3.25%	3.25%	3.25%
Unsecured notes, maturity period	Mar. 01, 2027
Proceeds from sale of unsecured long-term notes	$ 300,000,000	$ 297,800,000
Transaction costs		$ 1,900,000
Five-year Multi-Currency Revolving Credit Facility [Member]
Schedule Of Debt Instruments [Line Items]
Debt maturity term		5 years
Revolving credit facility, amount available		$ 700,000,000
Revolving credit facility, termination date		Dec. 15, 2020
Revolving credit facility, outstanding amount		$ 0
Actual debt-to-capital ratio		0.25
Actual debt-to-income ratio		1.07
Debt instrument, restrictive covenants		(i) a ratio not greater than 0.60 to 1.00 of consolidated net debt (consolidated debt net of certain cash adjustments) to the sum of such consolidated net debt plus total equity and less accumulated other comprehensive income or loss (the "Debt Ratio"); or (ii) a ratio not greater than 3.50 to 1.00 of such consolidated net debt to earnings before interest, taxes, depreciation, amortization and certain other adjustments for the preceding four fiscal quarters then ended (the "Debt to EBITDA Ratio").
Five-year Multi-Currency Revolving Credit Facility [Member] \| Maximum [Member]
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 [Member] \| Maximum [Member] \| Material Acquisition [Member]
Schedule Of Debt Instruments [Line Items]
Maximum limit of required debt-to-capital ratio		0.65
Maximum limit of required debt-to-income ratio		3.75

Financial Instruments - Additional Information (Detail) - USD ($)	3 Months Ended		6 Months Ended		12 Months Ended
	Jul. 01, 2017	Jul. 02, 2016	Jul. 01, 2017	Jul. 02, 2016	Dec. 31, 2016
Investment Holdings [Line Items]
Foreign currency forwards outstanding	$ 148,300,000		$ 148,300,000		$ 144,400,000
Long-term debt related to interest rate swaps			9,500,000		9,800,000
Foreign exchange gains (losses)	(2,000,000)	$ 1,000,000	(3,700,000)	$ 100,000
Derivative gain expected to reclassify from Accumulated OCI into earnings, in the next 12 months, net of tax	1,000,000		$ 1,000,000
Maximum [Member]
Investment Holdings [Line Items]
Maximum maturity date of fair value hedge (in years)			4 years
Fair Value Hedging [Member]
Investment Holdings [Line Items]
Notional amount of interest rate swaps outstanding and designated as fair value hedges	100,000,000		$ 100,000,000		100,000,000
Not Designated as Hedging Instrument [Member] \| Other Income (Expense) - Net [Member]
Investment Holdings [Line Items]
Transaction gains (losses) on net exposures	(8,000,000)	6,000,000	200,000	4,300,000
Foreign exchange gains (losses)	(2,000,000)	1,000,000	(3,700,000)	100,000
Foreign Currency Forwards [Member] \| Not Designated as Hedging Instrument [Member] \| Other Income (Expense) - Net [Member]
Investment Holdings [Line Items]
Derivative gain (losses) recognized	6,000,000	(5,000,000)	(3,900,000)	(4,200,000)
Foreign Currency Forwards [Member] \| Euros [Member]
Investment Holdings [Line Items]
Foreign currency forwards outstanding	57,700,000		57,700,000		55,000,000
Foreign Currency Forwards [Member] \| Swedish Kronor [Member]
Investment Holdings [Line Items]
Foreign currency forwards outstanding	49,800,000		49,800,000		47,000,000
Foreign Currency Forwards [Member] \| British Pounds [Member]
Investment Holdings [Line Items]
Foreign currency forwards outstanding	46,300,000		46,300,000		53,600,000
Foreign Currency Forwards [Member] \| Hong Kong Dollars [Member]
Investment Holdings [Line Items]
Foreign currency forwards outstanding	12,600,000		12,600,000		9,000,000
Foreign Currency Forwards [Member] \| Singapore Dollars [Member]
Investment Holdings [Line Items]
Foreign currency forwards outstanding	8,200,000		8,200,000		5,500,000
Foreign Currency Forwards [Member] \| South Korean Won [Member]
Investment Holdings [Line Items]
Foreign currency forwards outstanding	6,800,000		6,800,000		7,000,000
Foreign Currency Forwards [Member] \| Mexican Pesos [Member]
Investment Holdings [Line Items]
Foreign currency forwards outstanding	4,800,000		4,800,000		4,900,000
Foreign Currency Forwards [Member] \| Norwegian Kroner [Member]
Investment Holdings [Line Items]
Foreign currency forwards outstanding	4,500,000		4,500,000		4,600,000
Foreign Currency Forwards [Member] \| Japanese Yen [Member]
Investment Holdings [Line Items]
Foreign currency forwards outstanding	17,200,000		17,200,000		16,600,000
Foreign Currency Forwards [Member] \| Canadian Dollars [Member]
Investment Holdings [Line Items]
Foreign currency forwards outstanding	9,000,000		9,000,000		11,800,000
Foreign Currency Forwards [Member] \| Australian Dollars [Member]
Investment Holdings [Line Items]
Foreign currency forwards outstanding	8,900,000		8,900,000		4,400,000
Foreign Currency Forwards [Member] \| Brazilian Real [Member]
Investment Holdings [Line Items]
Foreign currency forwards outstanding					4,000,000
Foreign Currency Forwards [Member] \| Other Currency [Member]
Investment Holdings [Line Items]
Foreign currency forwards outstanding	6,100,000		6,100,000		6,400,000
Foreign currency forwards outstanding	$ 13,400,000		$ 13,400,000		11,800,000
Equity Forwards [Member]
Investment Holdings [Line Items]
Equity forwards in place of common stock associated with its deferred compensation plans	108,400		108,400
Equity Forwards [Member] \| Not Designated as Hedging Instrument [Member] \| Operating Expenses [Member]
Investment Holdings [Line Items]
Derivative gain (losses) recognized	$ (1,100,000)	(100,000)	$ (1,300,000)	(700,000)
Mark-to-market deferred compensation income (benefit)	(1,100,000)	$ (100,000)	(1,300,000)	$ (1,100,000)
Treasury Locks [Member]
Investment Holdings [Line Items]
Unrecognized gain recorded in Accumulated OCI			14,900,000
Treasury locks settled	250,000,000		250,000,000
Treasury locks outstanding	$ 0		$ 0		$ 250,000,000
Derivative valuation method			Treasury locks are valued based on the 10-year U.S. treasury interest rate.

Financial Instruments - Fair Values of Derivative Instruments Included within Condensed Consolidated Balance Sheets (Detail) - USD ($) $ in Millions	Jul. 01, 2017	Dec. 31, 2016
Derivatives, Fair Value [Line Items]
Asset Derivatives Fair Value	$ 37.9	$ 46.4
Liability Derivatives Fair Value	3.0	13.5
Designated as Hedging Instrument [Member]
Derivatives, Fair Value [Line Items]
Asset Derivatives Fair Value	9.5	24.1
Designated as Hedging Instrument [Member] \| Other Assets [Member] \| Treasury Locks [Member]
Derivatives, Fair Value [Line Items]
Asset Derivatives Fair Value		14.3
Designated as Hedging Instrument [Member] \| Interest Rate Swaps [Member] \| Other Assets [Member]
Derivatives, Fair Value [Line Items]
Asset Derivatives Fair Value	9.5	9.8
Not Designated as Hedging Instrument [Member]
Derivatives, Fair Value [Line Items]
Asset Derivatives Fair Value	28.4	22.3
Liability Derivatives Fair Value	3.0	13.5
Not Designated as Hedging Instrument [Member] \| Foreign Currency Forwards [Member] \| Prepaid Expenses and Other Assets [Member]
Derivatives, Fair Value [Line Items]
Asset Derivatives Fair Value	11.3	4.4
Not Designated as Hedging Instrument [Member] \| Foreign Currency Forwards [Member] \| Other Accrued Liabilities [Member]
Derivatives, Fair Value [Line Items]
Liability Derivatives Fair Value	3.0	13.5
Not Designated as Hedging Instrument [Member] \| Equity Forwards [Member] \| Prepaid Expenses and Other Assets [Member]
Derivatives, Fair Value [Line Items]
Asset Derivatives Fair Value	$ 17.1	$ 17.9

Financial Instruments - Derivative Instruments Designated as Fair Value Hedges Included in Condensed Consolidated Statements of Earnings (Detail) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jul. 01, 2017	Jul. 02, 2016	Jul. 01, 2017	Jul. 02, 2016
Interest Rate Swaps [Member] \| Interest Expense [Member] \| Fair Value Hedging [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Effective Portion of Gain Recognized in Income	$ 0.7	$ 0.8	$ 1.4	$ 1.5

Financial Instruments - Effect of Derivative Instruments Designated as Cash Flow Hedges Included in Accumulated OCI on Condensed Consolidated Balance Sheets and Condensed Consolidated Statements of Earnings (Detail) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jul. 01, 2017	Jul. 02, 2016	Jul. 01, 2017	Jul. 02, 2016
Interest Expense [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Effective Portion of Gain Reclassified from Accumulated OCI into Income	$ 0.4	$ 0.1	$ 0.7	$ 0.2
Effective Portion of Gain Reclassified from Accumulated OCI into Income	$ 0.4	$ 0.1	0.7	$ 0.2
Treasury Locks [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Effective Portion of Gain Recognized in Accumulated OCI			$ 6.1

Financial Instruments - Derivative Instruments Not Designated as Hedges Included in Condensed Consolidated Statements of Earnings (Detail) - Not Designated as Hedging Instrument [Member] - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jul. 01, 2017	Jul. 02, 2016	Jul. 01, 2017	Jul. 02, 2016
Foreign Currency Forwards [Member] \| Other Income (Expense) - Net [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Gain (Loss) Recognized in Income	$ 6.0	$ (5.0)	$ (3.9)	$ (4.2)
Equity Forwards [Member] \| Operating Expenses [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Gain (Loss) Recognized in Income	$ (1.1)	$ (0.1)	$ (1.3)	$ (0.7)

Financial Instruments - Fair Values of Financial Instruments Not Approximating Carrying Values in Financial Statements (Detail) - USD ($) $ in Millions	Jul. 01, 2017	Dec. 31, 2016
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt, notes payable and current maturities of long-term debt	$ 1,105.8	$ 1,010.2
Carrying Value [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Finance receivables - net	1,495.1	1,407.0
Contract receivables - net	381.8	374.8
Long-term debt, notes payable and current maturities of long-term debt	1,105.8	1,010.2
Fair Value [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Finance receivables - net	1,735.1	1,631.2
Contract receivables - net	419.3	409.7
Long-term debt, notes payable and current maturities of long-term debt	$ 1,116.5	$ 1,076.7

Pension Plans - Net Periodic Pension Cost (Detail) - Pension Plans, Defined Benefit [Member] - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jul. 01, 2017	Jul. 02, 2016	Jul. 01, 2017	Jul. 02, 2016
Defined Benefit Plan Disclosure [Line Items]
Service cost	$ 5.3	$ 4.8	$ 11.2	$ 9.7
Interest cost	13.9	14.4	27.9	28.4
Expected return on plan assets	(20.9)	(20.7)	(41.0)	(40.4)
Amortization of unrecognized loss	7.0	8.5	13.9	15.7
Amortization of prior service credit	(0.3)	(0.3)	(0.6)	(0.6)
Net periodic pension cost	$ 5.0	$ 6.7	$ 11.4	$ 12.8

Pension Plans - Additional Information (Detail) $ in Millions	6 Months Ended
	Jul. 01, 2017 USD ($)
Foreign Pension Plans [Member]
Defined Benefit Plan Disclosure [Line Items]
Expected future employer contributions	$ 7.1
Domestic Pension Plans [Member]
Defined Benefit Plan Disclosure [Line Items]
Expected future employer contributions	2.3
Cash contributions made	30.8
Discretionary contribution	30.0
Required contribution	$ 0.8

Postretirement Health Care Plans - Net Periodic Postretirement Health Care Cost (Detail) - Other Postretirement Benefit Plans, Defined Benefit [Member] - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jul. 01, 2017	Jul. 02, 2016	Jul. 01, 2017	Jul. 02, 2016
Postretirement Health Care Plans [Line Items]
Interest cost	$ 0.5	$ 0.5	$ 1.0	$ 1.1
Expected return on plan assets	(0.2)	(0.2)	(0.4)	(0.4)
Amortization of unrecognized loss (gain)		0.1	(0.1)
Net periodic pension cost	$ 0.3	$ 0.4	$ 0.5	$ 0.7

Stock-Based Compensation and Other Stock Plans - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended			6 Months Ended		12 Months Ended
	Jul. 01, 2017	Apr. 01, 2017	Jul. 02, 2016	Jul. 01, 2017	Jul. 02, 2016	Dec. 31, 2016	Jan. 02, 2016	Jan. 03, 2015
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Net stock-based compensation expense	$ 7.0		$ 8.4	$ 14.4	$ 14.2
Cash received from stock purchase and option plan exercises	20.5		18.5	34.6	28.4
Tax benefit realized from exercise and vesting of share-based payment arrangements	$ 3.1		2.9	$ 12.1	$ 13.1
2011 Incentive Stock and Awards Plan [Member]
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Number of shares available for future grants	3,285,425			3,285,425
Employees Stock Purchase Plan [Member]
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Number of shares issued				26,963	27,156
Number of shares reserved for issuance	753,600			753,600
Employee contributions for purchase of common stock				$ 0.4
Stock based compensation expense (benefit)	$ 0.1		0.1	$ 0.1	$ (0.1)
Employee stock purchase plan, description				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.
Franchisee Stock Purchase Plan [Member]
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Number of shares issued				47,314	42,867
Number of shares reserved for issuance	566,155			566,155
Stock based compensation expense (benefit)	$ 0.1		$ 0.1	$ 0.1	$ (0.4)
Franchisee contributions for purchase of common stock				$ 0.7
Franchisee stock purchase plan, description				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.
Stock Option [Member]
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Number of shares available for future grants	0		0	0	0
Weighted average contractual term (in years)		10 years
Weighted-average grant date fair value granted				$ 31.13	$ 22.99
Intrinsic value of stock exercised	$ 8.2		$ 5.0	$ 21.4	$ 17.4
Fair value of stock vested				14.0	$ 12.7
Unrecognized compensation cost related to non-vested award	27.2			$ 27.2
Cost expected to be recognized over weighted-average period, in years				2 years
Performance Awards [Member]
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Weighted average contractual term (in years)				3 years
Weighted-average grant date fair value granted				$ 168.70	$ 138.89
Unrecognized compensation cost related to non-vested award	$ 18.6			$ 18.6
Cost expected to be recognized over weighted-average period, in years				1 year 10 months 25 days
Maximum stock percentage to be awarded				100.00%
Performance period for awards granted (in years)				3 years
Performance awards shares paid out				60,980	94,186
Restricted Stock Units [Member]
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Performance period for awards granted (in years)				1 year
Awards granted vesting period (in years)				2 years
Shares granted						45,502	64,327	78,585
Units granted vesting date						2018	2017	2016
Shares vested						78,585
Cash-Settled Stock Appreciation Rights [Member]
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Number of shares available for future grants	0		0	0	0
Weighted average contractual term (in years)				10 years
Weighted-average grant date fair value granted				$ 18.10
Intrinsic value of stock exercised	$ 0.2		$ 0.3	$ 0.8	$ 0.8
Fair value of stock vested				0.1	$ 0.2
Unrecognized compensation cost related to non-vested award	$ 0.1			$ 0.1
Cost expected to be recognized over weighted-average period, in years	1 year 7 months 6 days
Shares granted				1,000
Shares vested				3,000
Stock-Settled SARs [Member]
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Weighted-average grant date fair value granted				$ 24.13	$ 19.47
Intrinsic value of stock exercised	$ 0.0		$ 0.3	$ 0.5	$ 0.7
Fair value of stock vested				2.1	$ 2.1
Unrecognized compensation cost related to non-vested award	$ 3.6			$ 3.6
Cost expected to be recognized over weighted-average period, in years				2 years
Shares granted				100,000
Restricted Stock [Member] \| Non-employee Directors [Member]
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Shares granted				6,966	7,145

Stock-Based Compensation and Other Stock Plans - Summary of Weighted-Average Assumptions of Fair Value Granted Using Black-Scholes Valuation Model (Detail)	6 Months Ended
	Jul. 01, 2017	Jul. 02, 2016
Stock Option [Member]
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Expected term (in years)	5 years 1 month 24 days	5 years 18 days
Expected volatility factor	22.01%	22.17%
Expected dividend yield	1.63%	1.77%
Risk-free interest rate	1.78%	1.04%
Stock-Settled SARs [Member]
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Expected term (in years)	3 years 11 months 26 days	4 years 11 days
Expected volatility factor	19.39%	20.09%
Expected dividend yield	1.46%	1.66%
Risk-free interest rate	1.55%	1.11%
Cash-Settled Stock Appreciation Rights [Member]
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Expected term (in years)	3 years 7 months 13 days	3 years 8 months 5 days
Expected volatility factor	19.56%	19.20%
Expected dividend yield	1.55%	1.60%
Risk-free interest rate	1.55%	0.71%

Stock-Based Compensation and Other Stock Plans - Summary of Stock Option Activity (Detail) - Stock Option [Member] $ / shares in Units, shares in Thousands, $ in Millions	6 Months Ended
	Jul. 01, 2017 USD ($) $ / shares shares
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Shares, Outstanding at beginning of period \| shares	3,011
Shares, Granted \| shares	655
Shares, Exercised \| shares	(253)
Shares, Forfeited or expired \| shares	(71)
Shares, Outstanding at end of period \| shares	3,342
Shares, Exercisable at end of period \| shares	2,133
Exercise Price Per Share, Outstanding at beginning of period \| $ / shares	$ 100.78
Exercise Price Per Share, Granted \| $ / shares	168.71
Exercise Price Per Share, Exercised \| $ / shares	89.07
Exercise Price Per Share, Forfeited or expired \| $ / shares	153.52
Exercise Price Per Share, Outstanding at end of period \| $ / shares	113.86
Exercise Price Per Share, Exercisable at end of period \| $ / shares	$ 90.60
Remaining Contractual Term, Outstanding at end of period	6 years 9 months 18 days
Remaining Contractual Term, Exercisable at end of period	5 years 6 months
Aggregate Intrinsic Value, Outstanding at end of period \| $	$ 154.2
Aggregate Intrinsic Value, Exercisable at end of period \| $	$ 143.7

Stock-Based Compensation and Other Stock Plans - Summary of Changes in Non-Vested Awards (Detail) - USD ($) $ / shares in Units, shares in Thousands, $ in Millions	6 Months Ended
	Jul. 01, 2017	Jul. 02, 2016
Nonvested Performance Shares [Member]
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Shares, at beginning of period	207
Shares, Granted	77
Shares, Vested	(5)
Shares, Cancellations and other	(17)
Shares, at end of period	262
Fair Value Price per Share, at beginning of period	$ 141.94
Fair Value Price per Share, Granted	168.70
Fair Value Price per Share, Vested	142.78
Fair Value Price per Share, Cancellations and other	147.78
Fair Value Price per Share, at end of period	$ 149.31
Stock-Settled SARs [Member]
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Shares, at beginning of period	303
Shares, Granted	100
Shares, Exercised	(8)
Shares, Cancellations and other	(20)
Shares, at end of period	375
Shares, Exercisable at end of period	179
Exercise Price Per Share, Outstanding at beginning of period	$ 125.38
Fair Value Price per Share, Granted	24.13	$ 19.47
Exercise Price Per Share, Granted	168.73
Exercise Price Per Share, Exercised	106.01
Exercise Price Per Share, Forfeited or expired	123.06
Exercise Price Per Share, Outstanding at end of period	137.52
Exercise Price Per Share, Exercisable at end of period	$ 118.55
Remaining Contractual Term, Outstanding at end of period	8 years 1 month 6 days
Remaining Contractual Term, Exercisable at end of period	7 years 1 month 6 days
Aggregate Intrinsic Value, Outstanding at end of period	$ 8.8
Aggregate Intrinsic Value, Exercisable at end of period	$ 7.1
Cash-Settled Stock Appreciation Rights [Member]
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Shares, at beginning of period	7
Shares, Granted	1
Shares, Vested	(3)
Shares, at end of period	5
Fair Value Price per Share, at beginning of period	$ 40.83
Fair Value Price per Share, Granted	18.10
Fair Value Price per Share, Vested	33.47
Fair Value Price per Share, at end of period	$ 24.94

Earnings Per Share - Computation of Basic and Diluted Earnings Per Common Share (Detail) - shares shares in Millions	3 Months Ended		6 Months Ended
	Jul. 01, 2017	Jul. 02, 2016	Jul. 01, 2017	Jul. 02, 2016
Earnings Per Share [Abstract]
Weighted-average common shares outstanding	57.8	58.1	57.9	58.1
Effect of dilutive securities	1.2	1.3	1.3	1.3
Weighted-average common shares outstanding, assuming dilution	59.0	59.4	59.2	59.4

Earnings Per Share - Additional Information (Detail) - shares	6 Months Ended
	Jul. 01, 2017	Jul. 02, 2016
Stock-Settled SARs [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Outstanding options or stock settled SARs	722,015	1,600

Commitments and Contingencies - Summary of Product Warranty Accrual Activity (Detail) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jul. 01, 2017	Jul. 02, 2016	Jul. 01, 2017	Jul. 02, 2016
Commitments and Contingencies Disclosure [Abstract]
Beginning of period	$ 17.1	$ 16.5	$ 16.0	$ 16.4
Additions	5.6	3.0	9.3	6.0
Usage	(3.8)	(3.4)	(6.4)	(6.3)
End of period	$ 18.9	$ 16.1	$ 18.9	$ 16.1

Other Income (Expense) - Net - Computation of Other Income (Expense) - Net (Detail) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jul. 01, 2017	Jul. 02, 2016	Jul. 01, 2017	Jul. 02, 2016
Other Income and Expenses [Abstract]
Interest income	$ 0.1	$ 0.2	$ 0.2	$ 0.3
Net foreign exchange gain (loss)	(2.0)	1.0	(3.7)	0.1
Other			(0.1)	0.1
Total other income (expense) - net	$ (1.9)	$ 1.2	$ (3.6)	$ 0.5

Accumulated Other Comprehensive Income (Loss) - Net Changes in Accumulated OCI by Component, Net of Tax (Detail) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jul. 01, 2017	Jul. 02, 2016	Jul. 01, 2017	Jul. 02, 2016
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance	$ (450.4)	$ (340.1)	$ (498.5)	$ (364.2)
Other comprehensive income (loss) before reclassifications	49.4	(34.9)	93.6	(15.0)
Amounts reclassified from Accumulated OCI	4.0	5.2	7.9	9.4
Net other comprehensive income (loss)	53.4	(29.7)	101.5	(5.6)
Ending balance	(397.0)	(369.8)	(397.0)	(369.8)
Foreign Currency Translation [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance	(179.6)	(98.6)	(217.7)	(118.5)
Other comprehensive income (loss) before reclassifications	49.4	(34.9)	87.5	(15.0)
Net other comprehensive income (loss)	49.4	(34.9)	87.5	(15.0)
Ending balance	(130.2)	(133.5)	(130.2)	(133.5)
Cash Flow Hedges [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance	15.0	0.6	9.2	0.7
Other comprehensive income (loss) before reclassifications			6.1
Amounts reclassified from Accumulated OCI	(0.4)	(0.1)	(0.7)	(0.2)
Net other comprehensive income (loss)	(0.4)	(0.1)	5.4	(0.2)
Ending balance	14.6	0.5	14.6	0.5
Defined Benefit Pension and Postretirement Plans [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance	(285.8)	(242.1)	(290.0)	(246.4)
Amounts reclassified from Accumulated OCI	4.4	5.3	8.6	9.6
Net other comprehensive income (loss)	4.4	5.3	8.6	9.6
Ending balance	$ (281.4)	$ (236.8)	$ (281.4)	$ (236.8)

Accumulated Other Comprehensive Income (Loss) - Reclassifications Out of Accumulated OCI (Detail) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jul. 01, 2017	Jul. 02, 2016	Jul. 01, 2017	Jul. 02, 2016
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Amortization of net unrecognized losses and prior service credits	$ (6.7)	$ (8.3)	$ (13.2)	$ (15.1)
Interest expense	13.0	12.9	25.7	26.0
Income tax expense	67.3	62.2	129.9	119.8
Amounts reclassified from Accumulated OCI, Net of tax	(4.0)	(5.2)	(7.9)	(9.4)
Reclassification out of AOCI [Member]
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Amounts reclassified from Accumulated OCI, Net of tax	(4.0)	(5.2)	(7.9)	(9.4)
Cash Flow Hedges [Member]
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Amounts reclassified from Accumulated OCI, Net of tax	0.4	0.1	0.7	0.2
Cash Flow Hedges [Member] \| Reclassification out of AOCI [Member]
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Amounts reclassified from Accumulated OCI, Net of tax	0.4	0.1	0.7	0.2
Defined Benefit Pension and Postretirement Plans [Member]
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Amounts reclassified from Accumulated OCI, Net of tax	(4.4)	(5.3)	(8.6)	(9.6)
Defined Benefit Pension and Postretirement Plans [Member] \| Reclassification out of AOCI [Member]
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Amortization of net unrecognized losses and prior service credits	(6.7)	(8.3)	(13.2)	(15.1)
Income tax expense	2.3	3.0	4.6	5.5
Amounts reclassified from Accumulated OCI, Net of tax	(4.4)	(5.3)	(8.6)	(9.6)
Treasury Locks [Member] \| Cash Flow Hedges [Member] \| Reclassification out of AOCI [Member]
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Interest expense	$ 0.4	$ 0.1	$ 0.7	$ 0.2

Segments - Net Sales by Segment (Detail) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jul. 01, 2017	Jul. 02, 2016	Jul. 01, 2017	Jul. 02, 2016
Segment Reporting Information [Line Items]
Net sales	$ 921.4	$ 872.3	$ 1,808.5	$ 1,706.5
Financial services revenue	77.7	69.3	154.5	135.6
Total revenues	999.1	941.6	1,963.0	1,842.1
Operating earnings	238.3	215.9	460.3	418.3
Interest expense	(13.0)	(12.9)	(25.7)	(26.0)
Other income (expense) - net	(1.9)	1.2	(3.6)	0.5
Earnings before income taxes and equity earnings	223.4	204.2	431.0	392.8
Operating Segments [Member]
Segment Reporting Information [Line Items]
Net sales	1,061.9	997.6	2,088.8	1,965.9
Operating earnings	259.8	239.6	502.9	463.4
Operating Segments [Member] \| Commercial & Industrial Group [Member]
Segment Reporting Information [Line Items]
Net sales	310.0	285.7	608.7	572.7
Operating earnings	42.7	39.3	84.3	80.4
Operating Segments [Member] \| Snap-on Tools Group [Member]
Segment Reporting Information [Line Items]
Net sales	413.8	416.7	823.2	819.2
Operating earnings	80.6	76.3	150.9	143.0
Operating Segments [Member] \| Repair Systems & Information Group [Member]
Segment Reporting Information [Line Items]
Net sales	338.1	295.2	656.9	574.0
Operating earnings	81.9	74.5	160.6	143.5
Operating Segments [Member] \| Financial Services [Member]
Segment Reporting Information [Line Items]
Operating earnings	54.6	49.5	107.1	96.5
Intersegment Eliminations [Member]
Segment Reporting Information [Line Items]
Net sales	(140.5)	(125.3)	(280.3)	(259.4)
Corporate [Member]
Segment Reporting Information [Line Items]
Operating earnings	$ (21.5)	$ (23.7)	$ (42.6)	$ (45.1)

Segments - Assets by Segment (Detail) - USD ($) $ in Millions	Jul. 01, 2017	Dec. 31, 2016
Segment Reporting Information [Line Items]
Assets	$ 5,067.1	$ 4,723.2
Operating Segments [Member]
Segment Reporting Information [Line Items]
Assets	4,926.0	4,575.9
Operating Segments [Member] \| Commercial & Industrial Group [Member]
Segment Reporting Information [Line Items]
Assets	1,052.2	907.1
Operating Segments [Member] \| Snap-on Tools Group [Member]
Segment Reporting Information [Line Items]
Assets	700.8	668.1
Operating Segments [Member] \| Repair Systems & Information Group [Member]
Segment Reporting Information [Line Items]
Assets	1,286.4	1,211.0
Operating Segments [Member] \| Financial Services [Member]
Segment Reporting Information [Line Items]
Assets	1,886.6	1,789.7
Corporate [Member]
Segment Reporting Information [Line Items]
Assets	213.6	212.3
Intersegment Eliminations [Member]
Segment Reporting Information [Line Items]
Assets	$ (72.5)	$ (65.0)

Receivables - Schedule of Finance and Contract Receivables on Nonaccrual Status (Detail) - USD ($) $ in Millions	Jul. 01, 2017	Dec. 31, 2016
Receivables [Abstract]
Finance receivables	$ 12.2	$ 11.7
Contract receivables	$ 1.6	$ 1.5