The following warranty information was provided by the Craftsman.com website.
Craftsman and Craftsman Industrial Hand Tools labeled HAND TOOL FULL WARRANTY in warranty heading
Warranty Service
To obtain the warranty coverage stated below, return the product to the retailer from which it was purchased. Coverage will be fulfilled according to the retailer warranty exchange procedure and may be subject to a limitation on the number of items allowed per exchange.
Craftsman (or Craftsman Industrial) Hand Tool Full Warranty
If this Craftsman (or Craftsman Industrial) hand tool ever fails to provide complete satisfaction, it will be repaired or replaced free of charge.
This warranty does not cover expendable parts that can wear out from normal use within the warranty period. *
HAND TOOL FULL WARRANTY PRODUCT CATEGORIES
Automotive Specialty Tools (simple design)
Beam Torque Wrenches
Chisels, Punches, Pry Bars
Hammers
Hex Keys, Files
Levels (other than Torpedo, Digital or Electronic)
Metal Squares and Combination Squares
Planers
Ratchets, Sockets, Extension Bars
Saws
Screwdrivers, Nut & Bit Drivers
Scrapers, Putty Knives
Snips, Bolt & Wire Cutters
Tubing Cutters
Utility Knives
Wrenches (other than Torque)
Be sure to ask what is meant by the asterisk (*) concerning expendable parts. There are several asterisks (*) in reference to an annotation below several sections. A copy follows.
* This warranty does not cover expendable parts (if supplied) that can wear out from normal use within the warranty period, including but not limited to bits, taps, dies, non-LED bulbs, replacement blades, non-rechargeable batteries, filters, belts, sandpaper, pads, bonnets, abrasion discs, grinding wheels, cutting wheels, contact tips, nozzles, inflation needles, trimmer line, and spark plugs.
Personally I cannot recall a lot of what has been added to the warranty statements on the Craftsman hand tool packaging when I originally purchased my tools new.