A. O. Smith Corporation manufactures and markets residential and commercial gas, heat pump and electric water heaters, boilers, tanks, and water treatment products in North America, China, Europe, and India. It operates through two segments, North America and Rest of World. The company offers water heaters for residences, restaurants, hotels and motels, office buildings, laundries, car washes, and small businesses; commercial boilers for hospitals, schools, hotels, and other large commercial buildings, as well as residential boilers for homes, apartments, and condominiums; and water treatment products comprising point-of-entry water softeners, well water solutions, and whole-home water filtration products, on-the-go filtration bottles, point-of-use carbon, and reverse osmosis products for residences, restaurants, hotels, and offices. It also provides food and beverage filtration products; expansion tanks, commercial solar water heating systems, swimming pool and spa heaters, and related products and parts; and heat pumps, electric wall-hung, gas tankless, combi-boiler, heat pump and solar water heaters. The company offers its products primarily under the A. O. Smith, State, Lochinvar, and water softener brands. It distributes its products through independent wholesale plumbing distributors, as well as through retail channels consisting of hardware and home center chains, and manufacturer representative firms; and offers Aquasana branded products directly to consumers through e-commerce, as well as other online retailers. A. O. Smith Corporation was founded in 1874 and is headquartered in Milwaukee, Wisconsin.

A. O. Smith Corporation

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Assets	Jun '25	Dec '24	Jun '24	Dec '23	Jun '23	Dec '22
Cash and Cash Equivalents	177.9	239.6	216.1	339.9	378.9	391.2
Cash and Cash Equivalents
Short-Term Investments	—	36.5	17.2	23.5	30.8	90.6
Marketable Securities
Total Cash and Cash Equivalents	177.9	276.1	233.3	363.4	409.7	481.8
Accounts Receivable	640.3	541.4	649.9	596	588.9	581.2
Receivables
Total Trade Receivables	640.3	541.4	649.9	596	588.9	581.2
Inventories	519.3	532.1	544.7	497.4	508.5	516.4
Inventories
Other Current Assets	51	43.3	53.4	43.5	54.2	54.3
Deferred Income Taxes
Other Current Assets
Total Current Assets	1,388.5	1,392.9	1,481.3	1,500.3	1,561.3	1,633.7
Net Property, Plant & Equipment	674.5	661.5	636.8	634.8	609.4	620.5
Net Property, Plant and Equipment
Operating Lease Assets
Net Intangible Assets	372	321.1	329.8	336.7	342.8	347.9
Other Intangibles
Goodwill	713.6	761.7	650.4	633.4	622.1	619.7
Goodwill
Other Long-Term Assets	98.1	102.8	99.3	108.7	113.2	110.5
Other Assets
Total Assets	3,246.7	3,240	3,197.6	3,213.9	3,248.8	3,332.3

Liabilities	Jun '25	Dec '24	Jun '24	Dec '23	Jun '23	Dec '22
Accounts Payable	521.8	588.7	574.6	600.4	545.1	625.8
Trade Payables
Accrued Expenses	228.5	231.5	223.1	269.6	243.9	234.8
Accrued Payroll and Benefits
Accrued Liabilities
Current Portion of Long-Term Debt	19.2	10	10	10	10	10
Debt Due Within One Year
Other Current Liabilities	73.5	67	64.7	65.3	61.7	63.6
Product Warranties
Total Current Liabilities	843	897.2	872.4	945.3	860.7	934.2
Long-Term Debt	284.2	183.2	130.4	117.3	196	334.5
Long-Term Debt
Leases	28.2	23.5	24.7	27.9	26	22.4
Operating Lease Liabilities
Long-Term Operating Lease Liabilities
Other Long-Term Liabilities	245.4	252.6	258.5	279	277.7	293.5
Pension Liabilities
Product Warranties
Other Liabilities
Total Long-Term Liabilities	557.8	459.3	413.6	424.2	499.7	650.4
Total Liabilities	1,400.8	1,356.5	1,286	1,369.5	1,360.4	1,584.6

Equity	Jun '25	Dec '24	Jun '24	Dec '23	Jun '23	Dec '22
Common Stock	294.7	294.8	294.8	294.8	294.9	294.9
Class a Common Stock
Common Stock
Treasury Stock	-2,754.8	-2,502	-2,351.9	-2,202.5	-1,970.8	-1,905.7
Treasury Stock at Cost
Additional Paid-in Capital	609.4	601.3	593.1	578.2	568.3	555.9
Capital in Excess of Par Value
Accumulated Other Comprehensive Income	-95.9	-111.9	-92	-84.2	-82.4	-82.4
Accumulated Other Comprehensive Loss
Retained Earnings	3,792.5	3,601.3	3,467.6	3,258.1	3,078.4	2,885
Retained Earnings
Total Common Shareholders' Equity	1,845.9	1,883.5	1,911.6	1,844.4	1,888.4	1,747.7
Total Shareholders' Equity	1,845.9	1,883.5	1,911.6	1,844.4	1,888.4	1,747.7
Total Stockholders' Equity
Total Liabilities and Shareholders' Equity	3,246.7	3,240	3,197.6	3,213.9	3,248.8	3,332.3
Total Liabilities and Stockholders' Equity