A. O. Smith Files 2024 10-K
Ticker: AOS · Form: 10-K · Filed: Feb 11, 2025 · CIK: 91142
Sentiment: neutral
Topics: 10-K, annual-report, financials
TL;DR
A. O. Smith dropped its 2024 10-K. Full financials out.
AI Summary
A. O. Smith Corporation filed its 2024 10-K on February 11, 2025, reporting its financial results for the fiscal year ending December 31, 2024. The filing provides detailed financial statements, including the Consolidated Statement of Earnings, and information on the company's business operations and risk factors. A. O. Smith, headquartered in Milwaukee, WI, is a significant player in the household appliances industry.
Why It Matters
This filing provides investors and analysts with a comprehensive overview of A. O. Smith's financial performance and strategic positioning for the fiscal year 2024, crucial for investment decisions.
Risk Assessment
Risk Level: medium — The filing contains standard risk disclosures inherent to a publicly traded manufacturing company, including market and operational risks.
Key Numbers
- 2024 — Fiscal Year (Reporting period for the 10-K)
- 2023 — Prior Fiscal Year (For comparative financial analysis)
- 1231 — Fiscal Year End (Indicates the end date of the reporting period)
Key Players & Entities
- SMITH A O CORP (company) — Filer
- 0000091142 (company) — Central Index Key
- MILWAUKEE, WI (location) — Business Address
- 2024-12-31 (date) — Fiscal Year End
- 2025-02-11 (date) — Filing Date
FAQ
What is the primary business of A. O. Smith Corp?
A. O. Smith Corp is primarily involved in the Household Appliances industry, as indicated by its SIC code [3630].
When was this 10-K filing submitted to the SEC?
This 10-K filing was submitted on February 11, 2025.
What period does this 10-K report cover?
This 10-K report covers the fiscal year ending December 31, 2024.
Where is A. O. Smith Corporation headquartered?
A. O. Smith Corporation is headquartered at 11270 West Park Place, Milwaukee, WI 53224.
What is the SEC file number for this filing?
The SEC file number for this filing is 001-00475.
Filing Stats: 4,499 words · 18 min read · ~15 pages · Grade level 12.4 · Accepted 2025-02-11 17:28:15
Key Financial Figures
- $5.00 — ered Class A Common Stock (par value $5.00 per share) None 25,870,069 Not listed
- $1.00 — 69 Not listed Common Stock (par value $1.00 per share) AOS 118,089,097 New York Sto
- $101.7 m — development in 2024, 2023 and 2022 were $101.7 million, $97.5 million and $89.0 million,
- $97.5 million — 024, 2023 and 2022 were $101.7 million, $97.5 million and $89.0 million, respectively. PATEN
- $89.0 m — were $101.7 million, $97.5 million and $89.0 million, respectively. PATENTS AND TRADE
Filing Documents
- aos-20241231.htm (10-K) — 2045KB
- aos-20241231xex19.htm (EX-19) — 48KB
- aos-20241231xex21.htm (EX-21) — 24KB
- aos-20241231xex23.htm (EX-23) — 3KB
- aos-20241231xex311.htm (EX-31.1) — 10KB
- aos-20241231xex312.htm (EX-31.2) — 10KB
- aos-20241231xex321.htm (EX-32.1) — 5KB
- aos-20241231xex322.htm (EX-32.2) — 5KB
- aos-20241231_g1.jpg (GRAPHIC) — 102KB
- 0000091142-25-000036.txt ( ) — 13549KB
- aos-20241231.xsd (EX-101.SCH) — 79KB
- aos-20241231_cal.xml (EX-101.CAL) — 115KB
- aos-20241231_def.xml (EX-101.DEF) — 517KB
- aos-20241231_lab.xml (EX-101.LAB) — 1023KB
- aos-20241231_pre.xml (EX-101.PRE) — 793KB
- aos-20241231_htm.xml (XML) — 2447KB
Business
Business 3 Item 1A.
Risk Factors
Risk Factors 7 Item 1B. Unresolved Staff Comments 12 Item 1C. Cybersecurity 13 Item 2.
Properties
Properties 14 Item 3.
Legal Proceedings
Legal Proceedings 14 Item 4. Mine Safety Disclosures 14 Part II Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 17 Item 6.
Selected Financial Data
Selected Financial Data 18 Item 7.
Management's Discussion and Analysis of Financial Condition and Results of Operations
Management's Discussion and Analysis of Financial Condition and Results of Operations 19 Item 7A.
Quantitative and Qualitative Disclosures About Market Risk
Quantitative and Qualitative Disclosures About Market Risk 28 Item 8.
Financial Statements and Supplementary Data
Financial Statements and Supplementary Data 28 Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 59 Item 9A.
Controls and Procedures
Controls and Procedures 59 Item 9B. Other Information 60
Disclosure Regarding Foreign Jurisdictions that Prevent Inspections
Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 60 Part III Item 10. Directors, Executive Officers and Corporate Governance 62 Item 11.
Executive Compensation
Executive Compensation 62 Item 12.
Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters
Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 63 Item 13. Certain Relationships and Related Transactions and Director Independence 63 Item 14. Principal Accounting Fees and Services 63 Part IV Item 15. Exhibits, Financial Statement Schedules 64 2 Table of Contents PART 1
– BUSINESS
ITEM 1 – BUSINESS As used in this annual report on Form 10-K, references to the "Company," "A. O. Smith," "AOS," "we," "us," and "our" refer to A. O. Smith and its consolidated subsidiaries. The following discussion should be read in conjunction with our consolidated financial statements and notes thereto under "Item 8 Financial Statements and Supplementary Data" in this annual report on Form 10-K. Our company is comprised of two reporting segments: North America and Rest of World. Both segments manufacture and market comprehensive lines of residential and commercial gas and electric water heaters, boilers, heat pumps, tanks and water treatment products. Both segments primarily manufacture and market in their respective regions of the world. Our Rest of World segment is primarily comprised of China, Europe and India. NORTH AMERICA Sales in our North America segment accounted for approximately 77 percent of our total sales in 2024. This segment serves residential and commercial end markets with a broad range of products including: Water heaters . Our residential and commercial water heaters primarily come in sizes ranging from 40 to 80 gallon models, however, we also offer sizes as low as 2.5 gallon (point-of-use) and as high as 2,500 gallon products with varying efficiency ranges. We offer electric, natural gas and liquid propane tank-type models as well as tankless (gas and electric), heat pump and solar tank units. Typical applications for our water heaters include residences, restaurants, hotels, office buildings, laundries, car washes, schools and small businesses. Boilers. Our residential and commercial boilers range in size from 45,000 British Thermal Units (BTUs) to 6.0 million BTUs. Boilers are closed loop water heating systems used primarily for space heating or hydronic heating. Our boilers are primarily used in applications in commercial settings for hospitals, schools, hotels and other large commercial buildings while residential boilers are used in
– RISK FACTORS
ITEM 1A – RISK FACTORS In the ordinary course of our business, we face various strategic, operating, compliance and financial risks. These risks could have an impact on our business, financial condition, operating results and cash flows. The risks set forth below are not an exhaustive list of potential risks but reflect those that we believe to be material. You should carefully consider the risk factors set forth below and all other information contained in this Annual Report on Form 10-K, including the documents incorporated by reference, before making an investment decision regarding our common stock. If any of the events contemplated by the following risks were to actually occur, then our business, financial condition, or results of operations could be materially adversely affected. As a result, the trading price of our common stock could decline, and you may lose all or part of your investment. Economic and Industry Risks The effects of global and regional economic conditions could have a material adverse effect on our business A decline in economic activity, such as a recession or economic downturn, in the U.S., China, and other regions in the world in which we do business, could further adversely affect consumer confidence and spending patterns which could result in decreased demand for the products we sell, a delay in purchases, increased price competition, or slower adoption of energy-efficient water heaters and boilers, or high-quality water treatment products, which could negatively impact our profitability and cash flows. Such deterioration in economic conditions could arise from many factors or fears including public health crises, further deterioration in the property market, political instability or risk of government default. In addition, an increase in price levels generally or in particular industries, could result in a consumer shift away from the products we offer, including trading down to lower priced models, which could adversely affect our