Snap-on Inc. Files 2023 Annual Report on Form 10-K
Ticker: SNA · Form: 10-K · Filed: 2024-02-16T00:00:00.000Z
Sentiment: neutral
Topics: 10-K, Annual Report, Snap-on Inc., Financials, SEC Filing
TL;DR
<b>Snap-on Inc. has filed its 2023 10-K, providing a comprehensive overview of its financial health and operational performance for the fiscal year.</b>
AI Summary
Snap-on Inc (SNA) filed a Annual Report (10-K) with the SEC on February 16, 2024. Snap-on Inc. filed its 2023 Form 10-K on February 16, 2024, reporting for the fiscal year ending December 30, 2023. The filing covers the company's financial performance and business operations for the fiscal year 2023. Key financial data and disclosures for the period are included in the report. The report details Snap-on's business segments, including 'Product and Services Excluding Financial Services' and 'Financial Services'. Information regarding executive compensation and stock performance is also part of the filing.
Why It Matters
For investors and stakeholders tracking Snap-on Inc, this filing contains several important signals. This 10-K filing provides investors with detailed financial statements, management's discussion and analysis, and risk factors, enabling informed investment decisions. The report offers insights into Snap-on's revenue streams, profitability, and strategic direction, crucial for understanding its market position and future prospects.
Risk Assessment
Risk Level: medium — Snap-on Inc shows moderate risk based on this filing. The company operates in the hand tools and general hardware industry, which can be subject to economic downturns and competitive pressures, as indicated by its SIC code and business description.
Analyst Insight
Investors should review the detailed financial statements and risk factors in the 10-K to assess Snap-on's performance and outlook.
Revenue Breakdown
| Segment | Revenue | Growth |
|---|---|---|
| Product and Services Excluding Financial Services | ||
| Financial Services |
Key Numbers
- 2023-12-30 — Fiscal Year End (Conformed period of report)
- 2024-02-16 — Filing Date (Date the 10-K was filed)
- 001-07724 — SEC File Number (Snap-on Inc.'s SEC file number)
- 390622040 — IRS Number (Snap-on Inc.'s IRS number)
Key Players & Entities
- Snap-on Inc. (company) — Filer and subject of the report
- Nicholas T. Pinchuk (person) — Mentioned in relation to executive roles or board membership
- Aldo J. Pagliari (person) — Mentioned in relation to executive roles or board membership
- 2023-12-30 (date) — Fiscal year end date
- 2024-02-16 (date) — Filing date
- 3420 (industry_code) — Standard Industrial Classification for Cutlery, Handtools & General Hardware
FAQ
When did Snap-on Inc file this 10-K?
Snap-on Inc filed this Annual Report (10-K) with the SEC on February 16, 2024.
What is a 10-K filing?
A 10-K is a comprehensive annual financial report required by the SEC, covering audited financials, business operations, risk factors, and management discussion. This particular 10-K was filed by Snap-on Inc (SNA).
Where can I read the original 10-K filing from Snap-on Inc?
You can access the original filing directly on the SEC's EDGAR system. The filing is publicly available and includes all exhibits and attachments submitted by Snap-on Inc.
What are the key takeaways from Snap-on Inc's 10-K?
Snap-on Inc filed this 10-K on February 16, 2024. Key takeaways: Snap-on Inc. filed its 2023 Form 10-K on February 16, 2024, reporting for the fiscal year ending December 30, 2023.. The filing covers the company's financial performance and business operations for the fiscal year 2023.. Key financial data and disclosures for the period are included in the report..
Is Snap-on Inc a risky investment based on this filing?
Based on this 10-K, Snap-on Inc presents a moderate-risk profile. The company operates in the hand tools and general hardware industry, which can be subject to economic downturns and competitive pressures, as indicated by its SIC code and business description.
What should investors do after reading Snap-on Inc's 10-K?
Investors should review the detailed financial statements and risk factors in the 10-K to assess Snap-on's performance and outlook. The overall sentiment from this filing is neutral.
Risk Factors
- Industry and Economic Conditions [medium — market]: The company's operations are subject to fluctuations in economic conditions and demand within the automotive repair and other industries it serves.
- Supply Chain and Manufacturing [medium — operational]: Disruptions in the supply chain or manufacturing processes could impact the company's ability to produce and deliver products.
- Credit and Financing Risks [medium — financial]: The financial services segment involves risks related to customer creditworthiness and the performance of financing receivables.
Key Dates
- 2023-12-30: Fiscal Year End — Marks the end of the reporting period for the 2023 10-K.
- 2024-02-16: Filing Date — The date Snap-on Inc. officially submitted its 2023 10-K to the SEC.
From the Filing
0000091440-24-000005.txt : 20240216 0000091440-24-000005.hdr.sgml : 20240216 20240215173651 ACCESSION NUMBER: 0000091440-24-000005 CONFORMED SUBMISSION TYPE: 10-K PUBLIC DOCUMENT COUNT: 164 CONFORMED PERIOD OF REPORT: 20231230 FILED AS OF DATE: 20240216 DATE AS OF CHANGE: 20240215 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Snap-on Inc CENTRAL INDEX KEY: 0000091440 STANDARD INDUSTRIAL CLASSIFICATION: CUTLERY, HANDTOOLS & GENERAL HARDWARE [3420] ORGANIZATION NAME: 04 Manufacturing IRS NUMBER: 390622040 STATE OF INCORPORATION: DE FISCAL YEAR END: 1230 FILING VALUES: FORM TYPE: 10-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-07724 FILM NUMBER: 24645035 BUSINESS ADDRESS: STREET 1: 2801 80TH STREET CITY: KENOSHA STATE: WI ZIP: 53143 BUSINESS PHONE: 2626565200 MAIL ADDRESS: STREET 1: 2801 80TH STREET CITY: KENOSHA STATE: WI ZIP: 53143 FORMER COMPANY: FORMER CONFORMED NAME: SNAP-ON Inc DATE OF NAME CHANGE: 20080918 FORMER COMPANY: FORMER CONFORMED NAME: SNAP ON INC DATE OF NAME CHANGE: 19940519 FORMER COMPANY: FORMER CONFORMED NAME: SNAP ON TOOLS CORP DATE OF NAME CHANGE: 19920703 10-K 1 sna-20231230.htm 10-K sna-20231230 false 2023 FY 0000091440 412 477 http://fasb.org/us-gaap/2023#OtherAccruedLiabilitiesCurrent http://fasb.org/us-gaap/2023#OtherAccruedLiabilitiesCurrent 2 2 one month 60 12 60 30 120 12 60 http://fasb.org/us-gaap/2023#PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetAfterAccumulatedDepreciationAndAmortization http://fasb.org/us-gaap/2023#PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetAfterAccumulatedDepreciationAndAmortization http://fasb.org/us-gaap/2023#OtherAccruedLiabilitiesCurrent http://fasb.org/us-gaap/2023#OtherAccruedLiabilitiesCurrent http://fasb.org/us-gaap/2023#OtherLiabilitiesNoncurrent http://fasb.org/us-gaap/2023#OtherLiabilitiesNoncurrent http://fasb.org/us-gaap/2023#OtherAccruedLiabilitiesCurrent http://fasb.org/us-gaap/2023#OtherAccruedLiabilitiesCurrent 0000091440 2023-01-01 2023-12-30 0000091440 2023-07-01 iso4217:USD 0000091440 2024-02-09 xbrli:shares 0000091440 sna:NicholasTPinchukMember 2023-10-01 2023-12-30 0000091440 sna:NicholasTPinchukMember 2023-12-30 0000091440 sna:AldoJPagliariMember 2023-10-01 2023-12-30 0000091440 sna:AldoJPagliariMember 2023-12-30 0000091440 2023-10-01 2023-12-30 0000091440 sna:ProductAndServicesExcludingFinancialServicesMember 2023-01-01 2023-12-30 0000091440 sna:ProductAndServicesExcludingFinancialServicesMember 2022-01-02 2022-12-31 0000091440 sna:ProductAndServicesExcludingFinancialServicesMember 2021-01-03 2022-01-01 0000091440 us-gaap:FinancialServiceMember 2023-01-01 2023-12-30 0000091440 us-gaap:FinancialServiceMember 2022-01-02 2022-12-31 0000091440 us-gaap:FinancialServiceMember 2021-01-03 2022-01-01 0000091440 2022-01-02 2022-12-31 0000091440 2021-01-03 2022-01-01 iso4217:USD xbrli:shares 0000091440 2023-12-30 0000091440 2022-12-31 0000091440 us-gaap:FinanceReceivablesMember 2023-12-30 0000091440 us-gaap:FinanceReceivablesMember 2022-12-31 0000091440 us-gaap:LoansReceivableMember 2023-12-30 0000091440 us-gaap:LoansReceivableMember 2022-12-31 0000091440 us-gaap:CommonStockMember 2021-01-02 0000091440 us-gaap:AdditionalPaidInCapitalMember 2021-01-02 0000091440 us-gaap:RetainedEarningsMember 2021-01-02 0000091440 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2021-01-02 0000091440 us-gaap:TreasuryStockCommonMember 2021-01-02 0000091440 us-gaap:NoncontrollingInterestMember 2021-01-02 0000091440 2021-01-02 0000091440 us-gaap:RetainedEarningsMember 2021-01-03 2022-01-01 0000091440 us-gaap:NoncontrollingInterestMember 2021-01-03 2022-01-01 0000091440 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2021-01-03 2022-01-01 0000091440 us-gaap:AdditionalPaidInCapitalMember 2021-01-03 2022-01-01 0000091440 us-gaap:TreasuryStockCommonMember 2021-01-03 2022-01-01 0000091440 us-gaap:CommonStockMember 2022-01-01 0000091440 us-gaap:AdditionalPaidInCapitalMember 2022-01-01 0000091440 us-gaap:RetainedEarningsMember 2022-01-01 0000091440 us-gaap:AccumulatedOther