A.O. Smith Corporation (AOS) Financial Statements (2024 and earlier)

Company Profile

Business Address 11270 WEST PARK PLACE
MILWAUKEE, WI 53224
State of Incorp. DE
Fiscal Year End December 31
Industry (SIC) 363 - Household Appliances (benchmarking)
More info Complete Financial Analysis Financial Benchmarking

Balance Sheet (Statement of Financial Position) ($ in thousands)

12/31/2023
Q4
9/30/2023
Q3
6/30/2023
Q2
3/31/2023
Q1
12/31/2022
Q4
9/30/2022
Q3
6/30/2022
Q2
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments341,800409,700496,000481,800417,100459,400
Cash and cash equivalents281,000378,900406,200391,200358,800359,400
Short-term investments60,80030,80089,80090,60058,300100,000
Receivables587,400588,900586,800581,200564,200621,500
Inventory, net of allowances, customer advances and progress billings519,000508,500503,700516,400525,600493,000
Inventory519,000508,500503,700516,400525,600493,000
Other current assets56,30054,20057,30054,30062,70057,300
Total current assets:1,504,5001,561,3001,643,8001,633,7001,569,6001,631,200
Noncurrent Assets
Operating lease, right-of-use asset33,30032,60032,30029,80031,30031,100
Property, plant and equipment581,100576,800585,500590,700583,600592,700
Intangible assets, net (including goodwill)969,100964,900964,700967,600969,100984,900
Goodwill630,500622,100619,900619,700619,300627,400
Intangible assets, net (excluding goodwill)338,600342,800344,800347,900349,800357,500
Other noncurrent assets112,100113,200110,000110,50078,30081,500
Total noncurrent assets:1,695,6001,687,5001,692,5001,698,6001,662,3001,690,200
TOTAL ASSETS:3,200,1003,248,8003,336,3003,332,3003,231,9003,321,400
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities737,000714,900764,000784,900830,400856,400
Employee-related liabilities71,00066,600
Accounts payable561,800545,100550,400625,800595,600624,500
Accrued liabilities175,200169,800213,600159,100163,800165,300
Deferred revenue 55,00070,30085,700  
Debt10,00010,00010,00010,0006,8006,800
Other undisclosed current liabilities148,60080,80051,40053,60063,70065,100
Total current liabilities:895,600860,700895,700934,200900,900928,300
Noncurrent Liabilities
Long-term debt and lease obligation119,600196,000330,800334,500304,500314,600
Long-term debt, excluding current maturities119,600196,000330,800334,500281,000291,600
Liabilities, other than long-term debt302,500303,700319,600315,900278,700286,000
Accounts payable and accrued liabilities119,800119,000119,400118,900113,500114,900
Liability, pension and other postretirement and postemployment benefits   9,900  
Other liabilities156,700158,700175,100164,700165,200171,100
Operating lease, liability26,00026,00025,10022,40023,50023,000
Total noncurrent liabilities:422,100499,700650,400650,400583,200600,600
Total liabilities:1,317,7001,360,4001,546,1001,584,6001,484,1001,528,900
Equity
Equity, attributable to parent, including:1,882,4001,888,4001,790,2001,747,7001,747,8001,792,500
Treasury stock, value(2,061,700)(1,970,800)(1,955,500)(1,905,700)(1,785,100)(1,694,000)
Additional paid in capital570,800568,300564,300555,900554,900553,100
Accumulated other comprehensive loss(90,100)(82,400)(80,000)(82,400)(368,100)(346,400)
Retained earnings3,168,5003,078,4002,966,5002,885,0003,051,1002,984,600
Other undisclosed equity, attributable to parent294,900294,900294,900294,900295,000295,200
Total equity:1,882,4001,888,4001,790,2001,747,7001,747,8001,792,500
TOTAL LIABILITIES AND EQUITY:3,200,1003,248,8003,336,3003,332,3003,231,9003,321,400

Income Statement (P&L) ($ in thousands)

12/31/2023
Q4
9/30/2023
Q3
6/30/2023
Q2
3/31/2023
Q1
12/31/2022
Q4
9/30/2022
Q3
6/30/2022
Q2
Revenues937,500960,800966,400936,100874,200965,900
Cost of revenue
(Cost of Goods and Services Sold)
(581,300)(576,100)(592,300)(587,500)(569,200)(631,500)
Gross profit:356,200384,700374,100348,600305,000334,400
Operating expenses(174,900)(180,300)(202,800)(282,200)(144,000)(166,700)
Operating income:181,300204,400171,30066,400161,000167,700
Nonoperating income (expense)
(Other Nonoperating Income (Expense))
(2,500)9,0004,000(419,200)(2,400)(300)
Interest and debt expense(2,400)(4,500)(4,000)(3,400)(2,400)(2,100)
Income (loss) from continuing operations before equity method investments, income taxes:176,400208,900171,300(356,200)156,200165,300
Other undisclosed income (loss) from continuing operations before income taxes   113,300(11,500) 
Income (loss) from continuing operations before income taxes:176,400208,900171,300(242,900)144,700165,300
Income tax expense (benefit)(41,000)(51,900)(44,400)122,800(34,900)(39,100)
Income (loss) from continuing operations:135,400157,000126,900(120,100)109,800126,200
Income before gain (loss) on sale of properties:109,800126,200
Net income (loss) available to common stockholders, diluted:135,400157,000126,900(120,100)109,800126,200

Comprehensive Income ($ in thousands)

12/31/2023
Q4
9/30/2023
Q3
6/30/2023
Q2
3/31/2023
Q1
12/31/2022
Q4
9/30/2022
Q3
6/30/2022
Q2
Net income (loss):135,400157,000126,900(120,100)109,800126,200
Other comprehensive income (loss)300600 (175,000)(2,400)(2,000)
Comprehensive income (loss):135,700157,600126,900(295,100)107,400124,200
Other undisclosed comprehensive income (loss), net of tax, attributable to parent(8,000)(3,000)2,400460,700(19,300)(16,800)
Comprehensive income, net of tax, attributable to parent:127,700154,600129,300165,60088,100107,400

Statements Sources

The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

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