Our reported sales in the quarter of $1.0246 billion were up 20.2%, including $19.2 million of favorable foreign exchange and $11.3 million of acquisition-related sales.
Organic sales growth was 16.3%, gains in every group.
Progress there was -- opco operating income of $200.9 million was up $62 million from last year, which included $7.5 million of restructuring charges.
Opco operating margin was 19.6%, up from the 2020 level of 16.3% or 17.2% as adjusted for restructuring.
For financial services, operating income of $65.3 million increased 14.8% and the delinquencies were down, even in the midst of a pandemic stress test, during commercial trial of what we could call extraordinary proportion.
And that result combined with opco for a consolidated operating margin of 23.9%, a 300-basis-point improvement as reported and up 220 basis points as adjusted.
First-quarter earnings per share was $3.50, up 40.6% from last year's $2.40.
And excluding the 2020 restructuring charges, earnings per share grew 34.6%.
Versus 2019, our sales in the past quarter grew $102.9 million or 11.2%.
That reflects $15.3 million of acquisition-related sales; $11.6 million of favorable foreign; currency and a $76 million or 8.1% economic gain.
The 2021 opco operating margin of 19.6% was up 50 basis points from the 2019 level as adjusted for a legal settlement in that earlier period, and that 50-point gain was achieved against 80 points of unfavorable currency and acquisition impacts, all while still absorbing the COVID.
In the C&I group, on a reported basis, including $9.2 million of favorable foreign currency translation and $7.3 million of acquisition-related sales, first-quarter volume rose 15.3% compared to last year.
Organic sales were up 9.5%, double-digit growth in our European hand tool business had a mid-single-digit rise and critical industries led the way.
From an earnings perspective, C&I operating income of $50.7 million, including $1.4 million of unfavorable currency, represents a rise of $19.2 million, compared to the $31.5 million registered in 2020, which included $4.4 million of restructuring.
That all means, on an adjusted basis, an adjusted increase of over 40%, an as adjusted increase of over 40%, and the operating margin was 14.7% and as reported increase of 420 basis points and 290 as adjusted.
Now when compared with 2019, the pandemic-free measuring stick sales were up 7.2%, and that included $10 million or a 3.1% organic gain; $8 million of acquisitions, and $5.2 million for favorable foreign currency.
One example is our CT9010, 3/8-inch drive, 18-volt brushless impact wrench, the newest member of our MonsterLithium family, aimed at tight space sustained power, rugged durability, and precise control.
The 9010 features 320-pound feet of bulk breakaway torque and 240-pound feet of working torque, all the power of technician needs when they're working in confirmed quarters.
The 9010 advanced design also reduces motor temperature rise, delivering higher durability and great power to rate ratio.
It's had strong demand, and it's already one of our $1 million hit products.
Sales of $478.3 million, up $102.4 million, including $6.7 million of favorable currency and a $95.7 million or 25% organic gain, double-digit growth, both in the U.S. and the international operations.
The operating margin was 20.7%, yes, 20.7%, up 780 basis points.
Compared with pre-virus 2019, tools group sales grew $68.1 million, 16.6%, including $5.2 million favorable currency translation and $62.9 million or a 15.1% organic gain.
And this year's 20.7% operating margin was up 430 basis points compared with pre-pandemic 2019.
That's a very important feature for a high-capacity unit, the KER681 EPIQ strength, styling, and styling, 8,000 pounds of low capacity, and more than 45,000 cubic inches of storage space.
First-quarter organic sales rose 7.6% with varying gains across the board.
Operating earnings of $81.4 million, including $1.5 million of unfavorable foreign currency effects, increased $4.1 million from 2020, which included $3.1 million of restructuring costs.
Compared with 2019, sales grew $19.7 million or 6%, including a $10 million or 3.1% organic gain, $7.3 million from acquisitions, and $2.3 million of unfavorable foreign currency.
So our new John Bean 2.80 of calibration system is the fix, making sure the vehicle is physically aligned correctly, guiding calibration of the sensors, and documenting that the procedure was formed appropriately.
It's loaded with our Fast Track intelligence diagnostics rooted in our proprietary database of over 200 billion vehicle events, a Snap-on only feature that enables quick and accurate diagnosis of even the most difficult and unusual repairs, ensuring an efficient and effective solution for those very, very time-consuming problems.
Our third straight period exceeding pre-pandemic levels; C&I, sequential improvement, sequential advancement; RS&I is solid; the tools group, strong and pumped; organic sales rising 16.3%; opco operating margin, 19.6%; EPS, $3.50 a big rise and most important, most important, more testimony that Snap-on has emerged from the turbulence much stronger than when we entered.
Net sales of $1.0246 billion in the quarter increased 20.2% from 2020 levels, reflecting a 16.3% organic sales gain, $11.3 million of acquisition-related sales and $19.2 million of favorable foreign currency translation.
Additionally, net sales in the period increased 11.2% from $921.7 million in the first quarter of 2019, including an 8.1% organic gain, $15.3 million of acquisition-related sales and $11.6 million of favorable foreign currency translation.
Consolidated gross margin of 50.1% and compared to 49.5% last year, which included 60 basis points from restructuring costs.
The gross margin contributions from the higher sales volumes will benefit from the company's RCI initiatives were offset by 40 basis points of unfavorable foreign currency effects.
Operating expenses as a percentage of net sales of 30.5% improved 270 basis points from 33.2% last year, which included 30 basis points from restructuring costs.
The improvements primarily reflect the impact of higher sales and cost containment actions, partially offset by higher stock-based costs and 30 basis points of operating expenses related to acquisitions.
Operating earnings before financial services of $200.9 million compared to $138.9 million in 2020, reflecting a 44.6% year-over-year improvement.
As a percentage of net sales, operating margin before financial services of 19.6% improved 330 basis points from 16.3% last year, which included 90 basis points for restructuring costs.
Financial services revenues of $88.6 million in the first quarter of 2021, compared to $85.9 million last year, while operating earnings of $65.3 million increased $8.4 million from 2020 levels, principally due to the higher revenue as well as lower provisions for credit losses.
Last year's provisions included a $2.6 million charge for higher reserves, resulting from the economic uncertainty caused by COVID-19.
Consolidated operating earnings of $266.2 million increased 36% from $195.8 million last year.
As a percentage of revenues, the operating earnings margin of 23.9% compared to 20.9% in 2020, which included 80 basis points from restructuring costs.
Excluding the restructuring costs, operating earnings margin in 2021 increased 220 basis points from last year.
Our first-quarter effective income tax rate of 23.5% compared to 24.2% last year, which included a 10 basis point increase related to the prior-year quarter's restructuring charges.
Finally, net earnings of $192.6 million or $3.50 per diluted share increased $55.4 million or $1.01 per share from 2020 levels, representing a 40.6% increase in diluted earnings per share.
Additionally, net earnings increased $14.7 million or $0.34 per share from 2019 levels, representing a 10.8% increase in diluted earnings per share.
Net earnings in 2020 included restructuring charges of $6 million after tax or $0.11 per diluted share, and net earnings in 2019 included a benefit of $8.7 million after tax or $0.15 per diluted share from a legal settlement.
Excluding these items, diluted earnings per share of $3.50 in 2021 increased 34.6% from 2020 and 16.3% from 2019 levels.
Starting with the C&I group on Slide 7, sales of $345.7 million increased 15.3% from $299.9 million last year, reflecting a 9.5% organic sales gain, $7.3 million of acquisition-related sales and $9.2 million of favorable foreign currency translation.
As a further comparison, net sales in the period increased 7.2% from 2019 levels, representing a 3.1% organic sales gain, $8 million of acquisition-related sales and $5.2 million of favorable foreign currency translation.
Gross margin of 38.7% improved 190 basis points from 36.8% in the first quarter of 2020, which included 150 basis points from restructuring charges.
Aside from the improvements resulting from the lower restructuring costs, contributions from higher sales volumes were partially offset by 70 basis points of unfavorable foreign currency effects.
Operating expenses as a percentage of sales of 24% improved 230 basis points as compared to last year, primarily as a result of the higher volumes and savings from cost containment actions.
Operating earnings for the C&I segment of $50.7 million, including $1.4 million of unfavorable foreign currency effects, compared to $31.5 million last year, the operating margin of 14.7% compared to 10.5% a year ago.
Sales of Snap-on tools group of $478.3 million increased 27.2% from $375.9 million in 2020, reflecting a 25% organic sales gain and $6.7 million of favorable foreign currency translation.
Net sales in the period increased 16.6% from $410.2 million in the first quarter of 2019, reflecting a 15.1% organic sales gain and $5.2 million of favorable foreign currency translation.
Gross margin of 45.9% in the quarter improved 320 basis points from last year, primarily due to the higher sales volumes and benefits from RCI initiatives.
Operating expenses as a percentage of sales of 25.2% improved from 29.8% last year, primarily due to the higher sales volumes and savings from cost containment actions.
Operating earnings for the Snap-on tools group of $98.9 million, compared to $48.6 million last year, the operating margin of 20.7%, compared to 12.9% a year ago, an increase of 780 basis points.
Sales of $347.6 million compared to $314.6 million a year ago, reflecting a 7.6% organic sales gain, $4 million of acquisition-related sales and $4.8 million of favorable foreign currency translation.
As compared to 2019 levels, net sales increased 6%, reflecting a 3.1% organic sales gain, $7.3 million of acquisition-related sales and $2.3 million of favorable foreign currency translation.
Gross margin of 46% declined from 47.9% last year, primarily due to the impact of higher sales and lower gross margin businesses and 70 basis points of unfavorable foreign currency effects.
Operating expenses as a percentage of sales of 22.6% improved 70 basis points from 23.3% last year, which included 80 basis points of restructuring cost.
Excluding the effects of restructuring benefits from the higher sales volumes were more than offset by 80 basis points of operating expenses related to acquisitions.
Operating earnings for the RS&I group of $81.4 million compared to $77.3 million last year.
The operating margin of 23.4%, compared to 24.6% a year ago.
Revenue from financial services of $88.6 million compared to $85.9 million last year.
Financial services operating earnings of $65.3 million compared to $56.9 million in 2020.
Financial services expenses of $23.3 million decreased to $5.7 million from 2020 levels, primarily due to lower provisions for credit losses resulting from $2.4 million of lower year-over-year net loan charge-offs and the absence of the previously mentioned first-quarter 2020 $2.6 million charge.
As a percentage of the average portfolio, financial services expenses were 1.1% and 1.4% in the first quarters of 2021 and 2020, respectively.
In the first quarter, the average yield on finance receivables of 17.6% in 2021, compared to 17.7% in 2020.
The respective average yield on contract receivables was 8.4% and 9%.
As of the end of the first quarter, approximately $11 million of these business operating support loans remain outstanding.
Total loan originations of $261.8 million in the first quarter increased $6.2 million or 2.4% from 2020 levels, reflecting a 1.7% increase in originations of finance receivables while originations of contract receivables were up 5.7%.
Moving to Slide 11, our quarter-end balance sheet includes approximately $2.2 billion of gross financing receivables, including $1.9 billion from our U.S. operation.
Our worldwide gross financial services portfolio decreased $25.8 million in the first quarter, primarily due to an increase in net collections.
The 60-day plus delinquency rate of 1.6% for the United States extended credit is down 10 basis points from the first quarter last year and down 20 basis points as compared to the fourth quarter of 2020.
As it relates to extended credit or finance receivables, trailing 12-month net losses of $43.9 million represented 2.55% of outstandings at quarter end, down seven basis points sequentially and down 44 basis points as compared to the same period last year.
Now turning to Slide 12, cash provided by operating activities of $319.3 million in the quarter increased $105.9 million from comparable 2020 levels, primarily reflecting the higher net earnings and net changes in operating assets and liabilities, including a $32.1 million decrease in inventory.
Net cash used by investing activities of $207.2 million included $200 million for the acquisition of dealer FX and the capital expenditures of $19.3 million, partially offset by net collections of finance receivables of $12.1 million.
Free cash flow during the quarter of $312.1 million was 158% in relation to net earnings.
Net cash used by financing activities of $131 million included cash dividends of $66.7 million and the repurchase of 722,000 shares of common stock from $151.9 million under our existing share repurchase programs, partially offset by proceeds from stock purchase and option plan of $93 million.
As of quarter end, we had remaining availability to repurchase up to an additional $268.7 million of common stock under existing authorizations.
Trade and other accounts receivable increased $10.1 million from 2020 year end.
Days sales outstanding of 62 days, compared to 64 days at 2020 year end.
Inventories decreased $16.4 million from 2020 year end and on a trailing 12-month basis, inventory turns of 2.6 compared to 2.4 at year-end 2020.
Our quarter-end cash position of $904.6 million compared to $923.4 million at year-end 2020.
Our net debt-to-capital ratio of 12.4% compared to 12.1% at year-end 2020.
In addition to cash and expected cash flow from operations, we have more than $800 million in available credit facilities.
We anticipate that capital expenditures will be in the range of $90 million to $100 million.
tax legislation, our full-year 2021 effective income tax rate will be in the range of 23% to 24%.
The RS&I sales continuing upward with OI margins of 23.4%, attenuated but still strong.
C&I, ongoing sequential growth across the world and OI margins 14.7%, up nicely even from 2019.
Sales up organically, 25% versus 2020, up in all product lines and in all geographies, volume up 15.1% versus 2019 and an OI margin of 20.7%.
And it all came together with Snap-on sales rising organically 16.3% versus 2020 and 8.1% versus '19.
OI margin, 19.6%, up significantly despite the virus, the unfavorable currency and the acquisition impacts.
And the EPS, $3.50, a substantial rise versus both 2020 and 2019.

Summary:
First-quarter earnings per share was $3.50, up 40.6% from last year's $2.40.
Our third straight period exceeding pre-pandemic levels; C&I, sequential improvement, sequential advancement; RS&I is solid; the tools group, strong and pumped; organic sales rising 16.3%; opco operating margin, 19.6%; EPS, $3.50 a big rise and most important, most important, more testimony that Snap-on has emerged from the turbulence much stronger than when we entered.
Finally, net earnings of $192.6 million or $3.50 per diluted share increased $55.4 million or $1.01 per share from 2020 levels, representing a 40.6% increase in diluted earnings per share.
Excluding these items, diluted earnings per share of $3.50 in 2021 increased 34.6% from 2020 and 16.3% from 2019 levels.
We anticipate that capital expenditures will be in the range of $90 million to $100 million.
And the EPS, $3.50, a substantial rise versus both 2020 and 2019.