实耐宝 2024年度报告

☐ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGEACT OF 1934For the fiscal year ended December 28, 2024, or☐TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGEACT OF 1934Commission File Number 1-7724 Snap-on Incorporated (Exact name of registrant as specified in its charter) 39-0622040 Delaware (I.R.S. Employer IdentificationNo.) Securities registered pursuant to Section 12(g) of the Act:None Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act.Yes☐No☐ Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or 15(d) of the Act. Yes☐No☐ Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of theSecurities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant wasrequired to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes☐No☐ Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to besubmitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or forsuch shorter period that the registrant was required to submit such files). Yes☐No☐ Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer,a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,”“accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act. Large accelerated filer☐Accelerated filer☐Non-accelerated filer☐Smaller reporting company☐Emerging growth company☐ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extendedtransitionperiod for complying with any new or revised financial accounting standards provided pursuant toSection 13(a) of the Exchange Act.☐ Indicate by check mark whether the registrant has filed a report on and attestation to its management’s assessmentof the effectiveness of its internal control over financial reporting under Section 404(b) of the Sarbanes-Oxley Act (15U.S.C. 7262(b)) by the registered public accounting firm that prepared or issued its audit report.☐ If securities are registered pursuant to Section 12(b) of the Act, indicate by check mark whether the financialstatements of the registrant included in the filing reflect the correction of an error to previously issued financialstatements.☐ Indicate by check mark whether any of those error corrections are restatements that required a recovery analysis ofincentive-based compensation received by any of the registrant’s executive officers during the relevant recoveryperiod pursuant to §240.10D-1(b).☐ Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes☐No☐ The aggregate market value of voting and non-voting common equity held by non-affiliates (excludes 1,071,273shares held by directors and executive officers) computed by reference to the price ($261.39) at which commonequity was last sold as of the last business day of the registrant’s most recently completed second fiscal quarter(June 29, 2024) was $13.5 billion. The number of shares of Common Stock ($1.00 par value) of the registrant outstanding as of February 7, 2025, was52,393,235 shares. DOCUMENTS INCORPORATED BY REFERENCE Part III of this Annual Report on Form 10-K incorporates by reference certain information that will be set forth in Snap-on’s Proxy Statement, which is expected to first be mailed to shareholders on or about March 12, 2025, prepared forthe Annual Meeting of Shareholders scheduled for April 24, 2025. TABLE OF CONTENTS Page PART IItem 1Business4Item 1ARisk Factors13Item 1BUnresolved Staff Comments21Item 1CCybersecurity21Item 2Properties23Item 3Legal Proceedings25Item 4Mine Safety Disclosures25PART IIItem 5Market for Registrant’s Common Equity, Related Stockholder Matters and IssuerPurchases of Equity Securities25Item 6[Reserved]27Item 7Management’s Discussion and Analysis of Financial Condition and Results ofOperations28Item 7AQuantitative and Qualitative Disclosures About Market Risk51Item 8Financial Statements and Supplementary Data53Item 9Changes in and Disagreements With Accountants on Accounting and FinancialDisclosure53Item 9AControls and Procedures53Item 9BOther Information55 Item 9CDisclosure Regarding Foreign Jurisdictions that Prevent Inspections55 PART IIIItem 10Directors, Executive Officers and Corporate Governance56Item 11Executive Compensation57Item 12Security Ownership of Certain Beneficial Owners and Management and RelatedStockholder Matters57Item 13Certain Relationships and Related Transactions, and Director Independence57Item 14Principal Accountant Fees and Services57 PA