For our  Financial Services  segment,  2010 marked the first full year since  Snap-on Credit’s 2009 transition from a joint venture to a wholly- owned subsidiary, when new  financing receivables began to be  included on our balance sheet. At the time of the transition, the credit  operation had minimal on-book,  interest-earning assets to offset its  operating expenses. By mid-2010,  Snap-on Credit was generating  positive operating earnings and we believe the transition has gone  In 2010, we celebrated a significant  milestone — the 90th anniversary of  Snap-on’s founding. The company  began with the development of the  original Snap-on interchangeable  socket set in 1920. Later, Snap-on  pioneered mobile tool distribution,  where fully stocked vans sold to  professional vehicle repair technicians  at their places of business. For many  decades, we were viewed, and we  viewed ourselves, primarily as a tool  company selling through vans to  vehicle technicians — something we  proposition. For example, our global  manufacturing footprint provides  proximity to our customers in  multiple markets around the world.  This is especially important since  our development of innovative  productivity solutions for these  professionals requires intimate  knowledge of their particular needs.  Our commitment to Snap-on Value  Creation enables us to manage  these multiple local positions to our  unique advantage with efficiency  and effectiveness.  seamlessly and as planned. For the  full year, the Financial Services  segment generated operating  earnings of $14.4 million on revenues  of $62.3 million. In the future, we  expect the segment can be an even  larger contributor to our earnings. At the same time, Financial Services  serves a significant strategic role in providing financing options for our technician customers, our  franchisees and customers who are  shop owners and managers.  have always done very well, and  continue to do very well today. In  recent years, we’ve defined our value  proposition more broadly, reaching  beyond the garage. Snap-on today  supports serious professionals in critical industries — inside and  outside vehicle repair — by delivering  a broad array of solutions to make  work easier.  We have the unique capabilities in  place to deliver on this broader value  The legendary Snap-on ®  brand  continues to be strong, delivering  premium quality and performance to professional users across the  globe. Both inside and outside the  vehicle repair garage, the brand  creates confidence with users in  critical applications where second  best is not an option. Whether  measured by endorsement from  vehicle technicians, the confidence of global aerospace companies, or purchases by leading-edge  Snap-on continues to expand its  capabilities in emerging markets.  In 2010, Snap-on’s new plant in  Minsk, Belarus, was officially  inaugurated. The 115,000 square foot facility manufactures bimetal  band saws, hole saws and power  hack saws for professionals around  the world. Processes in the Minsk  facility include the internally  developed high speed steel line  shown here. 6 “THE LEGENDARY SNAP-ON BRAND CONTINUES