Quantitative and Qualitative Disclosures About Market Risk
−Removed: There has been no significant change in the company’s exposure to market risk during the third quarter of 2024.
+Added: There has been no significant change in the company’s exposure to market risk during the first quarter of 2025.
Refer to Part II, Item 7A:
8 unchanged sentences
These inter-relationships were determined by observing interest rate and foreign currency market changes over the preceding quarter.
−Removed: The estimated maximum potential net one-day loss in fair value, calculated using the VAR model, as of September 28, 2024, was $9.9 million, consisting of a $10.0 million loss on interest rate-sensitive financial instruments and a $0.1 million gain on foreign currency-sensitive financial instruments.
+Added: The estimated maximum potential net one-day loss in fair value, calculated using the VAR model, as of March 29, 2025, was $11.7 million, consisting of a $10.9 million loss on interest rate-sensitive financial instruments and a $0.8 million loss on foreign currency-sensitive financial instruments.
The VAR model is a risk management tool and does not purport to represent actual losses in fair value that will be incurred by Snap-on, nor does it consider the potential effect of favorable changes in market factors.
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.