Company: AOS
Filing Date: 2025-02-11
Form Type: 10-K
Source: 0000091142-25-000036
Chunk: 54

Company: SMITH A O CORP
Filing Date: 2025-02-11
Form: 10-K
Item: Item 7
Chunk 54
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$574.8 Diluted Earnings Per Share (GAAP)(1)$3.63 $3.69 Restructuring and impairment expenses, per diluted share, before tax0.12 0.12 Pension settlement income per diluted share, before tax— — Tax effect on above items per diluted share(0.02)— Adjusted Earnings Per Share (non-GAAP)(1)$3.73 $3.81 

(1) Earnings per share amounts are calculated discretely and, therefore, may not add up to the total due to rounding.

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A. O. SMITH CORPORATION

Adjusted Segment Earnings

(dollars in millions)

(unaudited)

The following is a reconciliation of reported earnings before provision for income taxes to total segment earnings (non-GAAP) and adjusted segment earnings (non-GAAP):

 Twelve Months EndedDecember 31, 20242023Earnings Before Provision for Income Taxes (GAAP)$701.0 $733.5 Add: Corporate expense(1)63.9 64.1 Add: Interest expense6.7 12.0 Total Segment Earnings (non-GAAP)$771.6 $809.6 North America(2)$707.5 $726.7 Rest of World(3)64.5 83.4 Inter-segment earnings elimination(0.4)(0.5)Total Segment Earnings (non-GAAP)$771.6 $809.6 Additional Information(1)Corporate expense$(63.9)$(64.1)Pension settlement income, before tax— (0.2)Impairment expense, before tax— 3.1 Adjusted Corporate expense (non-GAAP)$(63.9)$(61.2)(2)North America$707.5 $726.7 Restructuring and impairment expenses, before tax6.3 — Pension settlement income, before tax— (0.7)Adjusted North America (non-GAAP)$713.8 $726.0 (3)Rest of World$64.5 $83.4 Restructuring and impairment expenses, before tax11.3 15.7 Adjusted Rest of World (non-GAAP)$75.8 $99.1 

25

A. O. SMITH CORPORATION

Free Cash Flow

(dollars in millions