Company: AOS
Filing Date: 2025-02-11
Form Type: 10-K
Source: 0000091142-25-000036
Chunk: 70

Company: SMITH A O CORP
Filing Date: 2025-02-11
Form: 10-K
Item: Item 8
Chunk 70
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7 Other comprehensive earnings (loss)Foreign currency translation adjustments(24.0)3.8 (39.4)Unrealized net (loss) gain on cash flow derivative instruments, less related income tax benefit (provision) of $0.7 in 2024, $1.4 in 2023 and $(1.4) in 2022(2.2)(4.2)4.3 Change in pension liability less related income tax benefit (provision) of $0.5 in 2024, $0.5 in 2023 and $(179.0) in 2022(1.5)(1.4)284.1 Comprehensive Earnings$505.9 $554.8 $484.7 

See accompanying notes which are an integral part of these statements.

31

CONSOLIDATED STATEMENT OF CASH FLOWS 

Years ended December 31 (dollars in millions)202420232022Operating ActivitiesNet earnings$533.6 $556.6 $235.7 Adjustments to reconcile earnings to cash provided by (used in) operating activities:Depreciation and amortization78.8 78.3 76.9 Stock based compensation expense14.9 11.5 11.1 Deferred income taxes(4.6)(3.8)— Non-cash impairments4.7 15.6 — Pension settlement (income) expense— (0.9)417.3 Pension settlement non-cash taxes— 0.2 (167.7)Net changes in operating assets and liabilities, net of acquisitions:Current assets and liabilities(22.6)20.0 (194.1)Noncurrent assets and liabilities(23.0)(7.2)12.2 Cash Provided by Operating Activities581.8 670.3 391.4 Investing ActivitiesCapital expenditures(108.0)(72.6)(70.3)Acquisitions(145.9)(16.8)(8.0)Investments in marketable securities(73.7)(63.1)(91.6)Net proceeds from sales of marketable securities60.5 128.4 178.0 Cash (Used in) Provided by Investing Activities(267.1)(24.1)8.1 Financing ActivitiesLong-term debt incurred (repaid)69.7