Company: AOS
Filing Date: 2025-04-29
Form Type: 10-Q
Source: 0000091142-25-000075
Chunk: 20

Company: SMITH A O CORP
Filing Date: 2025-04-29
Form: 10-Q
Item: Part I, Item 8
Chunk 20
---
1 Total Segments2,995.0 2,907.3 Corporate(1)272.7 332.7 Total$3,267.7 $3,240.0 (1) The majority of corporate assets consist of cash, cash equivalents, marketable securities, and deferred income taxes.Depreciation and amortizationThree Months EndedMarch 31,(dollars in millions)20252024North America$15.4 $14.8 Rest of World5.0 4.4 Total Segments20.4 19.2 Corporate0.3 0.4 Total$20.7 $19.6 Capital expendituresThree Months EndedMarch 31,(dollars in millions)20252024North America$19.0 $19.8 Rest of World2.3 2.1 Total Segments21.3 21.9 Corporate— 0.1 Total$21.3 $22.0 

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 inputs such as quoted prices in active markets; (Level 2) inputs, other than the quoted prices in active markets, that are observable either directly or indirectly; and (Level 3) unobservable inputs in which there is little or no market data, which require the reporting entity to develop its own assumptions. Assets and liabilities measured at fair value are based on the market approach which are prices and other relevant information generated by market transactions involving identical or comparable assets or liabilities.Assets (liabilities) measured at fair value on a recurring basis are as follows (dollars in millions): Fair Value Measurement UsingBalance Sheet LocationMarch 31,2025December 31, 2024Quoted prices