2015 Q3 Form 10-Q Financial Statement

#000119312515260787 Filed on July 23, 2015

View on sec.gov

Income Statement

Concept 2015 Q3 2015 Q1 2014 Q2
Revenue $910.5M $916.8M $878.2M
YoY Change 5.88% 9.44% 8.61%
Cost Of Revenue $432.8M $445.1M $426.1M
YoY Change 4.95% 8.88% 9.0%
Gross Profit $419.0M $471.7M $400.4M
YoY Change 6.37% 24.56% 7.29%
Gross Profit Margin 46.02% 51.45% 45.59%
Selling, General & Admin
YoY Change
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $20.60M $20.50M $19.70M
YoY Change 4.57% 52.99% 1.03%
% of Gross Profit 4.92% 4.35% 4.92%
Operating Expenses $268.2M $281.5M $262.3M
YoY Change 1.86% 9.53% 2.7%
Operating Profit $192.2M $190.2M $172.9M
YoY Change 14.2% 21.84% 16.51%
Interest Expense $12.90M -$6.900M $12.70M
YoY Change 1.57% -150.36% -7.97%
% of Operating Profit 6.71% -3.63% 7.35%
Other Income/Expense, Net -$700.0K -$8.800M $300.0K
YoY Change -22.22% 8700.0% -117.65%
Pretax Income $178.6M $173.4M $160.5M
YoY Change 15.45% 21.86% 20.77%
Income Tax $56.20M $54.90M $51.90M
% Of Pretax Income 31.47% 31.66% 32.34%
Net Earnings $120.0M $116.2M $106.1M
YoY Change 15.72% 21.17% 20.02%
Net Earnings / Revenue 13.18% 12.67% 12.08%
Basic Earnings Per Share $2.07 $1.83
Diluted Earnings Per Share $2.03 $1.960M $1.80
COMMON SHARES
Basic Shares Outstanding 58.11M shares 58.12M shares 58.13M shares
Diluted Shares Outstanding 59.11M shares 59.00M shares

Balance Sheet

Concept 2015 Q3 2015 Q1 2014 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $124.6M $132.9M $115.8M
YoY Change -0.08% 3.99% -33.71%
Cash & Equivalents $124.6M $132.9M $115.8M
Short-Term Investments
Other Short-Term Assets $225.3M $222.5M $193.0M
YoY Change 16.74% 22.93% 6.04%
Inventory $499.2M $475.5M $467.5M
Prepaid Expenses
Receivables $558.0M $550.8M $565.8M
Other Receivables $490.8M $476.9M $466.7M
Total Short-Term Assets $1.898B $1.859B $1.809B
YoY Change 2.03% 5.02% 7.27%
LONG-TERM ASSETS
Property, Plant & Equipment $411.2M $404.5M $401.8M
YoY Change 1.76% 2.59% 7.12%
Goodwill $787.8M $810.7M $870.5M
YoY Change -4.91% -3.69% 5.66%
Intangibles $258.2M $264.9M $239.5M
YoY Change -4.51% 9.64% -1.52%
Long-Term Investments $13.30M $13.30M $14.50M
YoY Change -2.92% -8.28% 8.21%
Other Assets $45.90M $47.30M $57.20M
YoY Change -14.53% -16.43% 2.33%
Total Long-Term Assets $2.493B $2.452B $2.420B
YoY Change 3.51% 5.02% 6.34%
TOTAL ASSETS
Total Short-Term Assets $1.898B $1.859B $1.809B
Total Long-Term Assets $2.493B $2.452B $2.420B
Total Assets $4.391B $4.310B $4.228B
YoY Change 2.86% 5.02% 6.73%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $166.1M $145.0M $171.9M
YoY Change -0.89% -9.43% 9.07%
Accrued Expenses $45.10M $53.80M $46.60M
YoY Change -11.05% 0.37% 4.48%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $61.00M $0.00 $46.30M
YoY Change 3.92% -100.0% -59.7%
Total Short-Term Liabilities $739.8M $718.7M $696.7M
YoY Change 0.8% 13.56% 0.09%
LONG-TERM LIABILITIES
Long-Term Debt $861.4M $862.7M $861.5M
YoY Change 0.1% 0.33% 0.01%
Other Long-Term Liabilities $88.00M $83.80M $87.90M
YoY Change 4.39% -2.9% 4.77%
Total Long-Term Liabilities $949.4M $946.5M $949.4M
YoY Change 0.49% 0.03% 0.43%
TOTAL LIABILITIES
Total Short-Term Liabilities $739.8M $718.7M $696.7M
Total Long-Term Liabilities $949.4M $946.5M $949.4M
Total Liabilities $2.075B $2.085B $1.956B
YoY Change 5.09% 9.7% -5.33%
SHAREHOLDERS EQUITY
Retained Earnings $2.806B $2.637B $2.474B
YoY Change 9.93% 10.15% 12.82%
Common Stock $67.40M $67.40M $67.40M
YoY Change 0.0% 0.0% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost) $557.9M $503.3M $493.5M
YoY Change 12.32% 8.24% 10.77%
Treasury Stock Shares 9.289M shares 9.270M shares 9.269M shares
Shareholders Equity $2.299B $2.208B $2.255B
YoY Change
Total Liabilities & Shareholders Equity $4.391B $4.310B $4.228B
YoY Change 2.86% 5.02% 6.73%

Cashflow Statement

Concept 2015 Q3 2015 Q1 2014 Q2
OPERATING ACTIVITIES
Net Income $120.0M $116.2M $106.1M
YoY Change 15.72% 21.17% 20.02%
Depreciation, Depletion And Amortization $20.60M $20.50M $19.70M
YoY Change 4.57% 52.99% 1.03%
Cash From Operating Activities $160.3M $97.20M $124.4M
YoY Change 82.16% 10.08% 12.99%
INVESTING ACTIVITIES
Capital Expenditures -$27.70M -$17.30M -$22.70M
YoY Change 24.22% -5.46% 35.93%
Acquisitions
YoY Change
Other Investing Activities -$57.70M -$28.70M -$97.00M
YoY Change 68.22% -1248.0% 6.83%
Cash From Investing Activities -$85.40M -$46.00M -$119.7M
YoY Change 50.88% -9.63% 11.35%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -64.90M -41.20M -17.10M
YoY Change 201.86% -67.58% -57.78%
NET CHANGE
Cash From Operating Activities 160.3M 97.20M 124.4M
Cash From Investing Activities -85.40M -46.00M -119.7M
Cash From Financing Activities -64.90M -41.20M -17.10M
Net Change In Cash 10.00M 10.00M -12.40M
YoY Change 1.01% -111.15% -67.28%
FREE CASH FLOW
Cash From Operating Activities $160.3M $97.20M $124.4M
Capital Expenditures -$27.70M -$17.30M -$22.70M
Free Cash Flow $188.0M $114.5M $147.1M
YoY Change 70.44% 7.41% 16.01%

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dei Document Fiscal Period Focus
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Q2
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2015
dei Amendment Flag
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dei Document Type
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10-Q
dei Entity Central Index Key
EntityCentralIndexKey
0000091440
dei Entity Filer Category
EntityFilerCategory
Large Accelerated Filer
us-gaap Finite Lived Intangible Asset Useful Life
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P11Y
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us-gaap Common Stock Dividends Per Share Declared
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dei Current Fiscal Year End Date
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dei Entity Registrant Name
EntityRegistrantName
SNAP-ON Inc
us-gaap Weighted Average Number Of Diluted Shares Outstanding
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2015-07-04
us-gaap Use Of Estimates
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<div> <p style="MARGIN-BOTTOM: 0px; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: medium 'Times New Roman'; WIDOWS: 1; MARGIN-TOP: 12px; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px"> <font style="FONT-FAMILY: 'Times New Roman'" size="2"><b>Use of Estimates</b></font></p> <p style="MARGIN-BOTTOM: 0px; WHITE-SPACE: normal; TEXT-TRANSFORM: none; WORD-SPACING: 0px; COLOR: rgb(0,0,0); FONT: medium 'Times New Roman'; WIDOWS: 1; MARGIN-TOP: 12px; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px" align="justify"><font style="FONT-FAMILY: 'Times New Roman'" size="2">The preparation of financial statements in conformity with U.S. 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.</font></p> </div>
dei Trading Symbol
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SNA
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