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

Company: SMITH A O CORP
Filing Date: 2025-04-29
Form: 10-Q
Item: Part I, Item 8
Chunk 25
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 the difference between the repurchase price and net proceeds from the resale of the product plus costs incurred in the process, less related distributor rebates. The Company’s reserves for estimated losses under these repurchase arrangements were immaterial as of March 31, 2025 and December 31, 2024. 

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14. Changes in Accumulated Other Comprehensive Loss by Component

Changes to accumulated other comprehensive loss by component are as follows: (dollars in millions)Three Months EndedMarch 31,20252024Cumulative foreign currency translationBalance at beginning of period$(104.3)$(80.3)Other comprehensive gain (loss) before reclassifications0.7 (4.8)Balance at end of period(103.6)(85.1)Unrealized net (loss) gain on cash flow derivativesBalance at beginning of period(1.5)0.7 Other comprehensive gain before reclassifications0.7 1.4 Realized losses (gains) on derivatives (net of income tax (benefit) provision of $(0.1) and $0.1 in 2025 and 2024, respectively)0.1 (0.4)Balance at end of period(0.7)1.7 Pension liabilityBalance at beginning of period(6.1)(4.6)Amounts reclassified from accumulated other comprehensive loss:(1)0.1 0.1 Balance at end of period(6.0)(4.5)Accumulated other comprehensive loss, end of period$(110.3)$(87.9)(1) Amortization of pension items:Actuarial losses$0.1 $0.1 0.1 0.1 Income tax benefit— — Reclassification net of income tax benefit$0.1 $0.1 

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ITEM 2 - MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

Overview 

Our company is comprised of two reporting segments: North America and Rest of World. Our Rest of World segment is primarily comprised of China, Europe and India. Both segments manufacture and market comprehensive lines of residential and commercial gas, heat pump and electric water heaters, boilers, tanks, and water treatment products. Both segments primarily manufacture and market in their respective region of the world. 

We continue to seek acquisitions that enable geographic growth, expand our core business, and establish adjacencies