Company: AOS
Filing Date: 2025-02-11
Form Type: 10-K
Source: 0000091142-25-000036
Chunk: 71

Company: SMITH A O CORP
Filing Date: 2025-02-11
Form: 10-K
Item: Item 8
Chunk 71
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(218.1)150.6 Common stock repurchases(305.8)(306.5)(403.5)Net proceeds (payments) from stock option activity18.1 23.4 (0.7)Dividends paid(190.4)(183.5)(177.2)Cash Used in Financing Activities(408.4)(684.7)(430.8)Effect of exchange rate changes on cash and cash equivalents(6.6)(12.8)(20.8)Net decrease in cash and cash equivalents(100.3)(51.3)(52.1)Cash and cash equivalents-beginning of year339.9 391.2 443.3 Cash and Cash Equivalents-End of Year $239.6 $339.9 $391.2 

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

32

CONSOLIDATED STATEMENT OF STOCKHOLDERS’ EQUITY 

Years ended December 31 (dollars in millions)202420232022Class A Common StockBalance at the beginning of the year$130.1 $130.2 $130.5 Conversion of Class A Common Stock— (0.1)(0.3)Balance at the end of the year$130.1 $130.1 $130.2 Common StockBalance at the beginning of the year$164.7 $164.7 $164.7 Conversion of Class A Common Stock— — — Balance at the end of the year$164.7 $164.7 $164.7 Capital in Excess of Par ValueBalance at the beginning of the year$578.2 $555.9 $545.2 Conversion of Class A Common Stock— 0.1 0.3 Issuance of share units(15.0)(10.3)(6.0)Vesting of share units(2.5)(3.7)(3.0)Stock based compensation expense13.1 10.4 11.1 Exercises of stock options11.4 14.5 1.3 Issuance of share based compensation16.1 11.3 7.0 Balance at the end of the year$601.3 $578.2 $555.9 Retained EarningsBalance at the beginning of the year$3