Air Products & Chemicals Files 2024 10-K

TL;DR

APD's 2024 10-K is in. Full financials and biz ops detailed.

AI Summary

Air Products & Chemicals, Inc. filed its 2024 10-K report on November 21, 2024, detailing its fiscal year ending September 30, 2024. The company, headquartered in Allentown, PA, operates in the Industrial Inorganic Chemicals sector. The filing provides comprehensive financial information and business operations for the period.

Why It Matters

This filing provides investors and stakeholders with a detailed overview of Air Products & Chemicals' financial performance and strategic positioning for the fiscal year 2024.

Risk Assessment

Risk Level: low — This is a standard annual financial filing for a large, established public company.

Key Numbers

• 0930 — Fiscal Year End (The report covers the fiscal year ending on this date.)
• 2024 — Report Year (Indicates the fiscal year for which the 10-K report is filed.)

Key Players & Entities

• Air Products & Chemicals, Inc. (company) — Filer
• Allentown, PA (location) — Business Address
• 20240930 (date) — Fiscal Year End
• 20241121 (date) — Filing Date

FAQ

Key Financial Figures

• $1.00 — ich registered Common Stock, par value $1.00 per share APD New York Stock Exchange

Filing Documents

• apd-20240930.htm (10-K) — 3793KB
• apd-exhibit103bx30sep24.htm (EX-10.3B) — 27KB
• apd-exhibit1012ax30sep24.htm (EX-10.12A) — 1135KB
• apd-exhibit191x30sep24.htm (EX-19.1) — 83KB
• apd-exhibit211x30sep24.htm (EX-21.1) — 95KB
• apd-exhibit231x30sep24.htm (EX-23.1) — 3KB
• apd-exhibit241x30sep24.htm (EX-24) — 14KB
• apd-exhibit311x30sep24.htm (EX-31.1) — 8KB
• apd-exhibit312x30sep24.htm (EX-31.2) — 8KB
• apd-exhibit321x30sep24.htm (EX-32.1) — 7KB
• apd-20240930_g1.jpg (GRAPHIC) — 113KB
• apd-20240930_g2.jpg (GRAPHIC) — 140KB
• 0000002969-24-000056.txt ( ) — 24519KB
• apd-20240930.xsd (EX-101.SCH) — 121KB
• apd-20240930_cal.xml (EX-101.CAL) — 193KB
• apd-20240930_def.xml (EX-101.DEF) — 875KB
• apd-20240930_lab.xml (EX-101.LAB) — 1503KB
• apd-20240930_pre.xml (EX-101.PRE) — 1304KB
• apd-20240930_htm.xml (XML) — 4222KB

RISK FACTORS

ITEM 1A. RISK FACTORS 12

UNRESOLVED STAFF COMMENTS

ITEM 1B. UNRESOLVED STAFF COMMENTS 20

CYBERSECURITY

ITEM 1C. CYBERSECURITY 21

PROPERTIES

ITEM 2. PROPERTIES 22

LEGAL PROCEEDINGS

ITEM 3. LEGAL PROCEEDINGS 23

MINE SAFETY DISCLOSURES

ITEM 4. MINE SAFETY DISCLOSURES 24 PART II

MARKET FOR REGISTRANT'S COMMON EQUITY, RELATED STOCKHOLDER MATTERS, AND ISSUER PURCHASES OF EQUITY SECURITIES

ITEM 5. MARKET FOR REGISTRANT'S COMMON EQUITY, RELATED STOCKHOLDER MATTERS, AND ISSUER PURCHASES OF EQUITY SECURITIES 25

RESERVED

ITEM 6. RESERVED 26

MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

ITEM 7. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS 27

QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

ITEM 7A. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK 54

FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA

ITEM 8. FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA 56

CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND FINANCIAL DISCLOSURE

ITEM 9. CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND FINANCIAL DISCLOSURE 123

CONTROLS AND PROCEDURES

ITEM 9A. CONTROLS AND PROCEDURES 123

OTHER INFORMATION

ITEM 9B. OTHER INFORMATION 123

DISCLOSURE REGARDING FOREIGN JURISDICTIONS THAT PREVENT INSPECTIONS

ITEM 9C. DISCLOSURE REGARDING FOREIGN JURISDICTIONS THAT PREVENT INSPECTIONS 123 PART III

DIRECTORS, EXECUTIVE OFFICERS AND CORPORATE GOVERNANCE

ITEM 10. DIRECTORS, EXECUTIVE OFFICERS AND CORPORATE GOVERNANCE 124

EXECUTIVE COMPENSATION

ITEM 11. EXECUTIVE COMPENSATION 124

SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT AND RELATED STOCKHOLDER MATTERS

ITEM 12. SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT AND RELATED STOCKHOLDER MATTERS 124

CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS, AND DIRECTOR INDEPENDENCE

ITEM 13. CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS, AND DIRECTOR INDEPENDENCE 124

PRINCIPAL ACCOUNTANT FEES AND SERVICES

ITEM 14. PRINCIPAL ACCOUNTANT FEES AND SERVICES 124 PART IV

EXHIBITS AND FINANCIAL STATEMENT SCHEDULES

ITEM 15. EXHIBITS AND FINANCIAL STATEMENT SCHEDULES 125

FORM 10-K SUMMARY

ITEM 16. FORM 10-K SUMMARY 125 INDEX TO EXHIBITS 126

SIGNATURES

SIGNATURES 129 2 Table of Contents

FORWARD-LOOKING STATEMENTS

FORWARD-LOOKING STATEMENTS This Annual Report on Form 10-K contains "forward-looking statements" within the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include all statements that do not relate solely to historical or current facts and can generally be identified by words such as "anticipate," "believe," "could," "estimate," "expect," "forecast," "future," "goal," "intend," "may," "outlook," "plan," "positioned," "possible," "potential," "project," "should," "target," "will," "would," and similar expressions or variations thereof, or the negative thereof, but these terms are not the exclusive means of identifying such statements. Forward-looking statements are based on management's expectations and assumptions as of the date of this report and are not guarantees of future performance. You are cautioned not to place undue reliance on our forward-looking statements. Forward-looking statements may relate to a number of matters, including expectations regarding revenue, margins, expenses, earnings, tax provisions, cash flows, pension obligations, share repurchases or other statements regarding economic conditions or our business outlook; statements regarding capital expenditures and plans, projects, strategies and objectives for our future operations, including our ability to win new projects and execute the projects in our backlog; and statements regarding our expectations with respect to pending legal claims or disputes. While forward-looking statements are made in good faith and based on assumptions, expectations and projections that management believes are reasonable based on currently available information, actual performance and financial results may differ materially from projections and estimates expressed in the forward-looking statements because of many factors, including, without limitation: changes in global or regional economic conditions, inflation, and supply and demand dynamics in the mark

FORWARD-LOOKING STATEMENTS (CONTINUED)

FORWARD-LOOKING STATEMENTS (CONTINUED) catastrophic events, such as natural disasters and extreme weather events, pandemics and other public health crises, acts of war, including Russia's invasion of Ukraine and new and ongoing conflicts in the Middle East, or terrorism; the impact on our business and customers of price fluctuations in oil and natural gas and disruptions in markets and the economy due to oil and natural gas price volatility; costs and outcomes of legal or regulatory proceedings and investigations; asset impairments due to economic conditions or specific events; significant fluctuations in inflation, interest rates and foreign currency exchange rates from those currently anticipated; damage to facilities, pipelines or delivery systems, including those we are constructing or that we own or operate for third parties; availability and cost of electric power, natural gas, and other raw materials; and the success of productivity and operational improvement programs. In addition to the foregoing factors, forward-looking statements contained herein are qualified with respect to the risks disclosed elsewhere in this document, including in Item 1A, Risk Factors, Item 7, Management's Discussion and Analysis of Financial Condition and Results of Operations , and Item 7A, Quantitative and Qualitative Disclosures About Market Risk. Any of these factors, as well as those not currently anticipated by management, could cause our results of operations, financial condition, or liquidity to differ materially from what is expressed or implied by any forward-looking statement. Except as required by law, we disclaim any obligation or undertaking to update or revise any forward-looking statements contained herein to reflect any change in assumptions, beliefs, or expectations or any change in events, conditions, or circumstances upon which any such forward-looking statements are based. 4 Table of Contents PART I

Business

Item 1. Business As used in this report, unless the context indicates otherwise, the terms "we," "our," "us," the "Company," "Air Products," or "registrant" include controlled subsidiaries and affiliates of Air Products. Additional information about Air Products is available on our website at www.airproducts.com. References to our website within this report are inactive textual references only. The content of our website is not incorporated by reference into, and does not form part of, this Annual Report on Form 10-K. Air Products trades on the New York Stock Exchange under the symbol "APD". All periodic and current reports, registration statements, proxy statements, and other filings that we are required to file with the Securities and Exchange Commission ("SEC"), including our Annual Report on Form 10-K, Quarterly Reports on Form 10-Q, Current Reports on Form 8-K, and amendments to those reports filed or furnished pursuant to Section 13(a) of the Securities Exchange Act of 1934 (the "Exchange Act"), are available free of charge through our website as soon as reasonably practicable after electronic filing of the material with the SEC. All such reports filed during the period covered by this report were available on our website on the same day as filing. Additionally, these filings are available free of charge on the SEC's website, www.sec.gov. Notes to the consolidated financial statements that are referenced in the disclosures that follow can be found under Item 8, Financial Statements and Supplementary Data , of this Annual Report on Form 10-K. About Air Products Air Products and Chemicals, Inc., a Delaware corporation originally founded in 1940, is a world-leading industrial gases company that has built a reputation for its innovative culture, operational excellence, and commitment to safety and the environment. Focused on serving energy, environmental, and emerging markets, we are committed to generating a cleaner future by offering products and services

View Full Filing

View this 10-K filing on SEC EDGAR