Snap-on Inc. Files 2024 10-K
Ticker: SNA · Form: 10-K · Filed: Feb 13, 2025 · CIK: 91440
Sentiment: neutral
Topics: 10-K, annual-report, financials
TL;DR
Snap-on filed its 2024 10-K. Full financials and business overview are out.
AI Summary
Snap-on Inc. filed its 2024 10-K on February 13, 2025, reporting on its fiscal year ending December 28, 2024. The company, headquartered in Kenosha, WI, operates in the hand tools and hardware industry. The filing details its financial performance and business operations for the past fiscal year.
Why It Matters
This filing provides investors and analysts with a comprehensive overview of Snap-on's financial health, strategic initiatives, and risks for the 2024 fiscal year, influencing investment decisions.
Risk Assessment
Risk Level: low — This is a standard annual report filing with no immediate red flags or significant new risks highlighted.
Key Numbers
- 2024 — Fiscal Year (The period covered by the 10-K filing.)
- 1228 — Fiscal Year End (The specific date the fiscal year concluded.)
- 20250213 — Filing Date (The date the 10-K was officially submitted to the SEC.)
Key Players & Entities
- Snap-on Inc. (company) — Filer of the 10-K
- 20241228 (date) — Fiscal year end date
- 20250213 (date) — Filing date
- Kenosha, WI (location) — Company headquarters
- CUTLERY, HANDTOOLS & GENERAL HARDWARE [3420] (industry) — Standard Industrial Classification
FAQ
What was Snap-on's reported fiscal year end date?
Snap-on's fiscal year end date was 20241228.
On what date was this 10-K filing submitted?
This 10-K filing was submitted on 20250213.
What is the company's Standard Industrial Classification code?
The company's SIC code is CUTLERY, HANDTOOLS & GENERAL HARDWARE [3420].
Where is Snap-on Inc. headquartered?
Snap-on Inc. is headquartered in Kenosha, WI.
What is the SEC file number for this filing?
The SEC file number for this filing is 001-07724.
Filing Stats: 4,234 words · 17 min read · ~14 pages · Grade level 19.9 · Accepted 2025-02-13 17:00:30
Key Financial Figures
- $1.00 — ange on which registered Common Stock, $1.00 par value SNA New York Stock Exchange
- $261.39 — rs) computed by reference to the price ($261.39) at which common equity was last sold a
Filing Documents
- sna-20241228.htm (10-K) — 3986KB
- snafy24ex10e.htm (EX-10.E) — 32KB
- snafy24ex21.htm (EX-21) — 75KB
- snafy24ex23.htm (EX-23) — 5KB
- snafy24ex311.htm (EX-31.1) — 11KB
- snafy24ex312.htm (EX-31.2) — 11KB
- snafy24ex321.htm (EX-32.1) — 8KB
- snafy24ex322.htm (EX-32.2) — 8KB
- sna-20241228_g1.jpg (GRAPHIC) — 98KB
- 0000091440-25-000010.txt ( ) — 21825KB
- sna-20241228.xsd (EX-101.SCH) — 118KB
- sna-20241228_cal.xml (EX-101.CAL) — 163KB
- sna-20241228_def.xml (EX-101.DEF) — 758KB
- sna-20241228_lab.xml (EX-101.LAB) — 1304KB
- sna-20241228_pre.xml (EX-101.PRE) — 1113KB
- sna-20241228_htm.xml (XML) — 4429KB
Business
Business 4 Item 1A
Risk Factors
Risk Factors 13 Item 1B Unresolved Staff Comments 21 Item 1C Cybersecurity 21 Item 2
Properties
Properties 23 Item 3
Legal Proceedings
Legal Proceedings 25 Item 4 Mine Safety Disclosures 25 PART II Item 5 Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 25 Item 6 [Reserved] 27 Item 7
Management's Discussion and Analysis of Financial Condition and Results of Operations
Management's Discussion and Analysis of Financial Condition and Results of Operations 28 Item 7A
Quantitative and Qualitative Disclosures About Market Risk
Quantitative and Qualitative Disclosures About Market Risk 51 Item 8
Financial Statements and Supplementary Data
Financial Statements and Supplementary Data 53 Item 9 Changes in and Disagreements With Accountants on Accounting and Financial Disclosure 53 Item 9A
Controls and Procedures
Controls and Procedures 53 Item 9B Other Information 55 Item 9C Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 55 PART III Item 10 Directors, Executive Officers and Corporate Governance 56 Item 11
Executive Compensation
Executive Compensation 57 Item 12
Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters
Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 57 Item 13 Certain Relationships and Related Transactions, and Director Independence 57 Item 14 Principal Accountant Fees and Services 57 PART IV Item 15 Exhibit and Financial Statement Schedules 58 Item 16 Form 10-K Summary 60
Signatures
Signatures 117 Consent of Independent Registered Public Accounting Firm 122 Certifications 123 2 SNAP-ON INCORPORATED PART I Safe Harbor Risks and uncertainties include, without limitation: Uncertainties related to estimates, assumptions and projections generally; The timing and progress with which Snap-on can attain value through its Snap-on Value Creation Processes, including its ability to
: Business
Item 1: Business Snap-on is a leading global innovator, manufacturer and marketer of tools, equipment, diagnostics, repair information and systems solutions for professional users performing critical tasks including those working in vehicle repair, aerospace, the military, natural resources, and manufacturing. From its founding in 1920, Snap-on has been recognized as the mark of the serious and the outward sign of the pride and dignity working men and women take in their professions. Products and services are sold through the company's network of widely recognized franchisee vans as well as through direct and distributor channels, under a variety of notable brands. The company also provides financing programs to facilitate the sales of its products and to support its franchise business. Snap-on markets its products and brands worldwide in more than 130 countries. Snap-on's largest geographic market is the United States. In addition, Snap-on has a meaningful presence across continental Europe and in the Asia Pacific region, as well as in Canada and the United Kingdom. The company began with the development of the original Snap-on interchangeable socket set and subsequently pioneered mobile tool distribution in the automotive repair market, where well-stocked vans sell to professional vehicle technicians at their place of business. Today, Snap-on defines its value proposition more broadly, extending its reach "beyond the garage" to deliver a broad array of unique solutions that make work easier for serious professionals. The company's "coherent growth" strategy focuses on developing and expanding its professional customer base in its legacy automotive market, as well as in adjacent markets, additional geographies and other areas, including in critical industries, where the cost and penalties for failure can be high. In addition to its coherent growth strategy, Snap-on is committed to its "Value Creation Processes" – a set of strategic principles and processes desi