Company: AOS
Filing Date: 2025-07-24
Form Type: 10-Q
Source: 0000091142-25-000100
Chunk: 22

Company: SMITH A O CORP
Filing Date: 2025-07-24
Form: 10-Q
Item: Part I, Item 8
Chunk 22
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2025December 31, 2024North America$2,434.2 $2,315.2 Rest of World537.2 592.1 Total Segments2,971.4 2,907.3 Corporate(1)275.3 332.7 Total$3,246.7 $3,240.0 (1) The majority of corporate assets consist of cash, cash equivalents, marketable securities, and deferred income taxes.Depreciation and amortizationThree Months EndedJune 30,Six Months EndedJune 30,(dollars in millions)2025202420252024North America$15.6 $15.0 $31.0 $29.8 Rest of World4.4 4.3 9.4 8.7 Total Segments20.0 19.3 40.4 38.5 Corporate0.5 0.3 0.8 0.7 Total$20.5 $19.6 $41.2 $39.2 Capital expendituresThree Months EndedJune 30,Six Months EndedJune 30,(dollars in millions)2025202420252024North America$13.7 $20.7 $32.7 $40.5 Rest of World3.4 2.2 5.7 4.3 Total Segments17.1 22.9 38.4 44.8 Corporate— — — 0.1 Total$17.1 $22.9 $38.4 $44.9 

14

10. Fair Value Measurements

ASC 820, Fair Value Measurements, among other things, defines fair value, establishes a consistent framework for measuring fair value and expands disclosure for each major asset and liability category measured at fair value on either a recurring basis or nonrecurring basis. ASC 820 clarifies that fair value is an exit price, representing the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants. As such, fair value is a market-based measurement that should be determined based on assumptions that market participants would use in pricing an asset or liability. As a basis for considering such assumptions, ASC 820 establishes a three-tier fair value hierarchy, which prioritizes the inputs used in measuring fair value as follows: (Level 1) observable