Snap-on (Snap-on) Interest Expense : $-50 Mil (TTM As of Mar. 2024)

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What is Snap-on Interest Expense?

Interest Expense is the amount reported by a company or individual as an expense for borrowed money. Snap-on's interest expense for the three months ended in Mar. 2024 was $ -13 Mil. Its interest expense for the trailing twelve months (TTM) ended in Mar. 2024 was $-50 Mil.

Interest Coverage is a ratio that determines how easily a company can pay interest expenses on outstanding debt. It is calculated by dividing a company's Operating Income(EBIT) by its Interest Expense. Snap-on's Operating Income for the three months ended in Mar. 2024 was $ 346 Mil. Snap-on's Interest Expense for the three months ended in Mar. 2024 was $ -13 Mil. Snap-on's Interest Coverage for the quarter that ended in Mar. 2024 was 27.70. The higher the ratio, the stronger the company's financial strength is. Note: If both Interest Expense and Interest Income are empty, while Net Interest Income is negative, then use Net Interest Income as Interest Expense.

Snap-on Interest Expense Historical Data

The historical data trend for Snap-on's Interest Expense can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

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Snap-on Interest Expense Chart

Snap-on Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Interest Expense

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-49.00

-54.00

-53.10

-47.10

-49.90

Snap-on Quarterly Data
	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24
Interest Expense	Get a 7-Day Free Trial															-12.40	-12.60	-12.40	-12.50	-12.50

Snap-on Interest Expense Calculation

Interest Expense is the amount reported by a company or individual as an expense for borrowed money.

Interest Expense for the trailing twelve months (TTM) ended in Mar. 2024 adds up the quarterly data reported by the company within the most recent 12 months, which was $-50 Mil.

Snap-on (NYSE:SNA) Interest Expense Explanation

Note: If both Interest Expense and Interest Income are empty, while Net Interest Income is negative, then use Net Interest Income as Interest Expense.

Snap-on's Interest Expense for the three months ended in Mar. 2024 was $-13 Mil. Its Operating Income for the three months ended in Mar. 2024 was $346 Mil. And its Long-Term Debt & Capital Lease Obligation for the three months ended in Mar. 2024 was $1,239 Mil.

Snap-on's Interest Coverage for the quarter that ended in Mar. 2024 is calculated as

Interest Coverage	=	-1	*	Operating Income (Q: Mar. 2024 )	/	Interest Expense (Q: Mar. 2024 )
	=	-1	*	346.2	/	-12.5
	=	27.70

The higher the ratio, the stronger the company's financial strength is.

Snap-on (Snap-on) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Industrials » Industrial Products » Snap-on Inc (NYSE:SNA) » Definitions » Interest Expense

Comparable Companies

Traded in Other Exchanges

SPU:Germany SPU:Germany S1NA34:Brazil SNA:Argentina

Address

2801 80th Street, Kenosha, WI, USA, 53143

Website

https://www.snapon.com

Snap-on manufactures premium tools and software for repair professionals. Hand tools are sold through franchisee-operated mobile vans that serve auto technicians who purchase tools at their own expense. A unique element of its business model is that franchisees bear significant risk, as they must invest in the mobile van, inventory, and software. At the same time, franchisees extend personal credit directly to technicians on an individual tool basis. Snap-on currently operates three segments: repair systems and information, commercial and industrial, and tools. Its finance arm provides financing to franchisees to run their operations, which includes offering loans and leases for mobile vans.

Executives

Thomas J Ward	officer: Sr VP & President - Tools	2801 80TH STREET, KENOSHA WI 53141
Aldo John Pagliari	officer: SVP-Finance & CFO	2801 80TH STREET, KENOSHA WI 53143
Nicholas T Pinchuk	director, officer: President and CEO	280180TH STREET, KENOSHA WI 53143
June C Lemerand	officer: VP & Chief Information Officer	2801 80TH STREET, KENOSHA WI 53143
Timothy L Chambers	officer: Sr VP & Pres - Tools	2801 80TH STREET, KENOSHA WI 53143
Iain Boyd	officer: V.P. - Human Resources	2801 80TH STREET, KENOSHA WI 53143
Richard Thomas Miller	officer: VP, Gen Counsel & Secretary	2801 80TH STREET, KENOSHA WI 53143
Jesus Arregui	officer: Sr VP & President - Commercial	2801 80TH STREET, KENOSHA WI 53143
Anup R Banerjee	officer: Sr VP & Chief Devel. Officer	2801 80TH STREET, KENOSHA WI 53143
Karen L Daniel	director	2801 80TH STREET, KENOSHA WI 53141
William Dudley Lehman	director
Marty V. Ozolins	officer: Vice President & Controller	2801 80TH STREET, KENOSHA WI 53143
Richard K Strege	officer: Vice President & Controller	2801 80TH STREET, KENOSHA WI 53143
Irwin M Shur	officer: VP, Gen Counsel & Secretary	SNAP-ON INCORPORATED, 2801 80TH STREET, KENOSHA WI 53143
Thomas L. Kassouf	officer: SVP & Pres - Commercial Div	2801 80TH STREET, KENOSHA WI 53143