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Condensed Consolidated Statements of Earnings (Unaudited) - USD ($)
shares in Millions, $ in Millions
3 Months Ended 6 Months Ended
Jun. 29, 2019
Jun. 30, 2018
Jun. 29, 2019
Jun. 30, 2018
Net sales $ 1,035.4 $ 1,036.6 $ 2,042.7 $ 2,055.1
Operating earnings 250.5 250.9 500.0 485.5
Interest expense (12.4) (12.0) (24.9) (25.6)
Other income (expense) – net 2.1 (0.6) 3.6 2.2
Earnings before income taxes and equity earnings 240.2 238.3 478.7 462.1
Income tax expense (55.6) (55.8) (112.5) (113.4)
Earnings before equity earnings 184.6 182.5 366.2 348.7
Equity earnings, net of tax 0.3 0.2 0.8 0.8
Net earnings 184.9 182.7 367.0 349.5
Net earnings attributable to noncontrolling interests (4.5) (4.0) (8.7) (7.8)
Net earnings attributable to Snap-on Incorporated $ 180.4 $ 178.7 $ 358.3 $ 341.7
Net earnings per share attributable to Snap-on Incorporated:        
Basic (in dollars per share) $ 3.27 $ 3.17 $ 6.47 $ 6.04
Diluted (in dollars per share) $ 3.22 $ 3.12 $ 6.38 $ 5.93
Weighted-average shares outstanding:        
Basic (in shares) 55.2 56.4 55.4 56.6
Effect of dilutive securities (in shares) 0.8 0.9 0.8 1.0
Diluted (in shares) 56.0 57.3 56.2 57.6
Dividends declared per common share (in dollars per share) $ 0.95 $ 0.82 $ 1.90 $ 1.64
Excluding Financial Services        
Net sales $ 951.3 $ 954.6 $ 1,873.0 $ 1,890.1
Cost of goods sold (477.5) (467.5) (927.6) (931.4)
Gross profit 473.8 487.1 945.4 958.7
Operating expenses (283.9) (294.0) (568.1) (587.9)
Operating earnings 189.9 193.1 377.3 370.8
Financial Service        
Net sales 84.1 82.0 169.7 165.0
Cost of goods sold (23.5) (24.2) (47.0) (50.3)
Operating earnings $ 60.6 $ 57.8 $ 122.7 $ 114.7