Company: AOS
Filing Date: 2025-10-28
Form Type: 10-Q
Source: 0000091142-25-000150
Chunk: 22

Company: SMITH A O CORP
Filing Date: 2025-10-28
Form: 10-Q
Item: Part I, Item 8
Chunk 22
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315.2 Rest of World556.1 592.1 Total Segments2,921.3 2,907.3 Corporate(1)249.4 332.7 Total$3,170.7 $3,240.0 (1) The majority of corporate assets consist of cash, cash equivalents, marketable securities, and deferred income taxes.Depreciation and amortizationThree Months EndedSeptember 30,Nine Months EndedSeptember 30,(dollars in millions)2025202420252024North America$16.5 $15.3 $47.5 $45.1 Rest of World4.8 4.6 14.2 13.3 Total Segments21.3 19.9 61.7 58.4 Corporate0.3 0.4 1.1 1.1 Total$21.6 $20.3 $62.8 $59.5 Capital expendituresThree Months EndedSeptember 30,Nine Months EndedSeptember 30,(dollars in millions)2025202420252024North America$12.4 $30.9 $45.1 $71.4 Rest of World2.4 1.6 8.1 5.9 Total Segments14.8 32.5 53.2 77.3 Corporate— — — 0.1 Total$14.8 $32.5 $53.2 $77.4 

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 inputs such as quoted prices in active markets; (Level 2) inputs, other than the quoted prices