A.O. Smith Corp (AOS) financial statements: income statement, balance sheet and cash flow
A.O. Smith Corp's income statement, balance sheet and cash flow statement as filed with the SEC (10-K and 10-Q), with the latest fiscal years and quarters. In its latest fiscal year (Dec 31, 2025 · FY), A.O. Smith Corp reported revenue of $3.8B (+0.3% year on year) and net income of $546.2M (+2.4% year on year).
Income statement
A.O. Smith Corp income statement, fiscal years
Line item
Dec 31, 2025 · FY
Dec 31, 2024 · FY
Dec 31, 2023 · FY
Dec 31, 2022 · FY
Net sales
$3.8B
$3.8B
$3.9B
$3.8B
Cost of products sold
$2.3B
$2.4B
$2.4B
$2.4B
Gross profit
$1.5B
$1.5B
$1.5B
$1.3B
Selling, general and administrative expenses
$759.4M
$739.3M
$727.4M
$670.9M
Restructuring and impairment expenses
$0
$17.6M
$18.8M
—
Interest expense
$13.5M
$6.7M
$12.0M
$9.4M
Other income, net
($600.0K)
($8.5M)
($6.9M)
$425.6M
Earnings before provision for income taxes
$715.1M
$701.0M
$733.5M
$223.7M
Provision for income taxes
$168.9M
$167.4M
$176.9M
($12.0M)
Net Earnings
$546.2M
$533.6M
$556.6M
$235.7M
Net Earnings Per Share of Common Stock (in dollars per share)
$3.87
$3.65
$3.71
$1.52
Diluted Net Earnings Per Share of Common Stock (in dollars per share)
$3.85
$3.63
$3.69
$1.51
A.O. Smith Corp income statement, quarters
Line item
Jun 30, 2026 · Q2
Mar 31, 2026 · Q1
Sep 30, 2025 · Q3
Jun 30, 2025 · Q2
Net sales
$1.0B
$945.6M
$942.5M
$1.0B
Cost of products sold
$616.5M
$579.9M
$578.0M
$614.2M
Gross profit
$387.8M
$365.7M
$364.5M
$397.1M
Selling, general and administrative expenses
$197.7M
$203.9M
$188.9M
$191.3M
Restructuring and impairment expenses
$22.6M
—
—
—
Interest expense
$8.1M
$7.1M
$3.6M
$4.6M
Other expense (income), net
$1.4M
$0
$200.0K
($400.0K)
Earnings before provision for income taxes
$158.0M
$154.7M
$171.8M
$201.6M
Provision for income taxes
$33.1M
$36.7M
$39.8M
$49.4M
Net Earnings
$124.9M
$118.0M
$132.0M
$152.2M
Basic Net Earnings Per Share of Common Stock (in USD per share)
$0.91
$0.85
$0.94
$1.07
Diluted Net Earnings Per Share of Common Stock (in USD per share)
$0.91
$0.85
$0.94
$1.07
Dividends Per Share of Common Stock (in USD per share)
$0.36
$0.36
$0.34
$0.34
Balance sheet
A.O. Smith Corp balance sheet, fiscal years
Line item
Dec 31, 2025 · FY
Dec 31, 2024 · FY
Dec 31, 2023 · FY
Dec 31, 2022 · FY
Cash and cash equivalents
$174.5M
$239.6M
$339.9M
$391.2M
Marketable securities
$18.7M
$36.5M
$23.5M
$90.6M
Receivables
$582.3M
$541.4M
$596.0M
$581.2M
Inventories
$479.3M
$532.1M
$497.4M
$516.4M
Other current assets
$36.7M
$43.3M
$43.5M
$54.3M
Total Current Assets
$1.3B
$1.4B
$1.5B
$1.6B
Net property, plant and equipment
$635.1M
$628.7M
$597.5M
$590.7M
Goodwill
$710.6M
$761.7M
$633.4M
$619.7M
Other intangibles
$362.3M
$321.1M
$336.7M
$347.9M
Operating lease assets
$46.3M
$32.8M
$37.3M
$29.8M
Other assets
$97.0M
$102.8M
$108.7M
$110.5M
Total Assets
$3.1B
$3.2B
$3.2B
$3.3B
Trade payables
$504.1M
$588.7M
$600.4M
$625.8M
Accrued payroll and benefits
$93.6M
$78.5M
$92.2M
$75.7M
Accrued liabilities
$147.5M
$153.0M
$177.4M
$159.1M
Product warranties
$75.0M
$67.0M
$65.3M
$63.6M
Long-term debt due within one year
$42.3M
$10.0M
$10.0M
$10.0M
Total Current Liabilities
$862.5M
$897.2M
$945.3M
$934.2M
Long-term debt
$112.7M
$183.2M
$117.3M
$334.5M
Product warranties
$134.7M
$123.4M
$122.8M
$118.9M
Pension liabilities
$7.4M
$11.0M
$10.5M
$9.9M
Long-term operating lease liabilities
$37.1M
$23.5M
$27.9M
$22.4M
Other liabilities
$130.4M
$118.2M
$145.7M
$164.7M
Total Liabilities
$1.3B
$1.4B
$1.4B
$1.6B
Commitments and contingencies
$0
$0
$0
$0
Preferred Stock
$0
$0
$0
$0
Common stock, value
$294.7M
$294.8M
$294.8M
$294.9M
Capital in excess of par value
$614.4M
$601.3M
$578.2M
$555.9M
Retained earnings
$4.0B
$3.6B
$3.3B
$2.9B
Accumulated other comprehensive loss
($98.6M)
($111.9M)
($84.2M)
($82.4M)
Treasury stock at cost
($2.9B)
($2.5B)
($2.2B)
($1.9B)
Total Stockholders’ Equity
$1.9B
$1.9B
$1.8B
$1.7B
Total Liabilities and Stockholders’ Equity
$3.1B
$3.2B
$3.2B
$3.3B
A.O. Smith Corp balance sheet, quarters
Line item
Jun 30, 2026
Mar 31, 2026
Sep 30, 2025
Jun 30, 2025
Cash and cash equivalents
$181.3M
$185.2M
$152.7M
$177.9M
Marketable securities
$0
$18.7M
$20.1M
$0
Receivables
$669.8M
$634.1M
$589.0M
$640.3M
Inventories
$482.7M
$488.5M
$507.3M
$519.3M
Other current assets
$55.5M
$41.9M
$47.0M
$51.0M
Total Current Assets
$1.4B
$1.4B
$1.3B
$1.4B
Property, plant and equipment
$1.6B
$1.6B
$1.5B
$1.5B
Less accumulated depreciation
($970.3M)
($947.6M)
($914.3M)
($901.6M)
Net property, plant and equipment
$619.0M
$632.2M
$633.0M
$637.1M
Goodwill
$915.2M
$919.9M
$710.0M
$713.6M
Other intangibles
$589.0M
$598.7M
$366.1M
$372.0M
Operating lease assets
$49.7M
$51.8M
$45.6M
$37.4M
Other assets
$82.3M
$79.3M
$99.9M
$98.1M
Total Assets
$3.6B
$3.7B
$3.2B
$3.2B
Trade payables
$525.7M
$543.0M
$521.4M
$521.8M
Accrued payroll and benefits
$74.0M
$60.7M
$85.5M
$80.2M
Accrued liabilities
$160.9M
$159.4M
$154.0M
$148.3M
Product warranties
$71.6M
$73.4M
$72.6M
$73.5M
Debt due within one year
$39.5M
$41.6M
$19.0M
$19.2M
Total Current Liabilities
$871.7M
$878.1M
$852.5M
$843.0M
Long-term debt
$598.0M
$574.2M
$166.8M
$284.2M
Product warranties
$142.0M
$137.0M
$130.9M
$127.6M
Long-term operating lease liabilities
$39.2M
$40.7M
$35.6M
$28.2M
Other liabilities
$151.7M
$142.4M
$140.4M
$117.8M
Total Liabilities
$1.8B
$1.8B
$1.3B
$1.4B
Common Stock, value
$294.7M
$294.7M
$294.7M
$294.7M
Capital in excess of par value
$623.1M
$619.0M
$612.4M
$609.4M
Retained earnings
$4.1B
$4.0B
$3.9B
$3.8B
Accumulated other comprehensive loss
($104.2M)
($100.7M)
($100.3M)
($95.9M)
Treasury stock at cost
($3.1B)
($3.0B)
($2.8B)
($2.8B)
Total Stockholders’ Equity
$1.8B
$1.9B
$1.8B
$1.8B
Total Liabilities and Stockholders’ Equity
$3.6B
$3.7B
$3.2B
$3.2B
Cash flow statement
A.O. Smith Corp cash flow statement, fiscal years
Line item
Dec 31, 2025 · FY
Dec 31, 2024 · FY
Dec 31, 2023 · FY
Dec 31, 2022 · FY
Net earnings
$546.2M
$533.6M
$556.6M
$235.7M
Depreciation and amortization
$85.1M
$78.8M
$78.3M
$76.9M
Stock based compensation expense
$13.8M
$14.9M
$11.5M
$11.1M
Deferred income taxes
$8.9M
($4.6M)
($3.8M)
—
Non-cash impairments
$0
$4.7M
$15.6M
—
Pension settlement income
$0
$0
($900.0K)
$417.3M
Pension settlement non-cash taxes
$0
$0
$200.0K
($167.7M)
Current assets and liabilities
($55.7M)
($22.6M)
$20.0M
($194.1M)
Noncurrent assets and liabilities
$18.5M
($23.0M)
($7.2M)
$12.2M
Cash Provided by Operating Activities
$616.8M
$581.8M
$670.3M
$391.4M
Capital expenditures
($70.8M)
($108.0M)
($72.6M)
($70.3M)
Acquisitions
$0
($145.9M)
($16.8M)
($8.0M)
Investments in marketable securities
($42.7M)
($73.7M)
($63.1M)
($91.6M)
Net proceeds from sales of marketable securities
$60.5M
$60.5M
$128.4M
$178.0M
Cash Used in Investing Activities
($53.0M)
($267.1M)
($24.1M)
$8.1M
Proceeds from debt
$1.1B
—
—
$150.6M
Repayments of debt
($1.1B)
—
—
—
Common stock repurchases
($400.8M)
($305.8M)
($306.5M)
($403.5M)
Net proceeds from stock option activity
$1.0M
$18.1M
$23.4M
($700.0K)
Dividends paid
($195.7M)
($190.4M)
($183.5M)
($177.2M)
Cash Used in Financing Activities
($633.1M)
($408.4M)
($684.7M)
($430.8M)
Effect of exchange rate changes on cash and cash equivalents
$4.2M
($6.6M)
($12.8M)
($20.8M)
Net decrease in cash and cash equivalents
($65.1M)
($100.3M)
($51.3M)
($52.1M)
Cash and cash equivalents-beginning of year
$239.6M
$339.9M
$391.2M
$443.3M
Cash and Cash Equivalents-End of Year
$174.5M
$239.6M
$339.9M
$391.2M
A.O. Smith Corp cash flow statement, quarters
Line item
Jun 30, 2026 · YTD
Mar 31, 2026 · Q1
Sep 30, 2025 · YTD
Jun 30, 2025 · YTD
Net earnings
$242.9M
$118.0M
$420.8M
$288.8M
Depreciation and amortization
$48.5M
$23.9M
$62.8M
$41.2M
Share-based compensation expense
$9.3M
$6.6M
$11.3M
$8.6M
Deferred income taxes
$25.1M
$18.3M
$9.7M
($9.1M)
Non-cash impairment
$12.4M
—
—
—
Current assets and liabilities
($97.1M)
($43.2M)
($83.6M)
($159.0M)
Noncurrent assets and liabilities
$12.7M
$5.8M
$12.7M
$7.8M
Cash Provided by Operating Activities
$253.8M
$129.4M
$433.7M
$178.3M
Capital expenditures
($20.5M)
($10.5M)
($53.2M)
($38.4M)
Acquisition of business
($470.0M)
($470.0M)
$0
$0
Investments in marketable securities
$0
$0
($42.7M)
($22.6M)
Net proceeds from sale of marketable securities
$18.7M
$0
$59.2M
$59.2M
Cash Used in Investing Activities
($471.8M)
($480.5M)
($36.7M)
($1.8M)
Proceeds from debt
$819.0M
$564.4M
—
—
Repayments of debt
($333.2M)
($101.1M)
—
—
Common stock repurchases
($162.4M)
($51.3M)
($335.4M)
($251.3M)
Net payments from stock option activity
$0
($500.0K)
$700.0K
($500.0K)
Dividends paid
($99.8M)
($50.2M)
($145.1M)
($97.5M)
Cash Provided by (Used in) Financing Activities
$223.6M
$361.3M
($486.6M)
($241.1M)
Effect of exchange rate changes on cash and cash equivalents
$1.2M
$500.0K
$2.7M
$2.9M
Net increase (decrease) in cash and cash equivalents