A. O. Smith Cash Flow Statement

Financials in millions USD. Fiscal year is January - December.

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020	2015 - 2019
Period Ending	Sep '25 Sep 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020	2015 - 2019
Net Income	530.5	533.6	556.6	235.7	487.1	344.9	Upgrade
Depreciation & Amortization	82.1	78.8	78.3	76.9	77.9	80	Upgrade
Asset Writedown & Restructuring Costs	4.7	4.7	15.6	-	-	-	Upgrade
Stock-Based Compensation	13.5	14.9	11.5	11.1	11.9	12.7	Upgrade
Other Operating Activities	6	-4.6	-4.5	249.6	-	-	Upgrade
Change in Accounts Receivable	49	49	-16.4	42.5	-25.5	4.5	Upgrade
Change in Inventory	-40.5	-40.5	18.1	-82.8	-109.5	2.9	Upgrade
Change in Accounts Payable	-5.9	-5.9	-21.4	-89.4	142.9	85.6	Upgrade
Change in Income Taxes	0.6	0.6	4.1	-8.8	21.7	3.4	Upgrade
Change in Other Net Operating Assets	15.6	-48.8	28.4	-43.4	34.6	28.1	Upgrade
Operating Cash Flow	655.6	581.8	670.3	391.4	641.1	562.1	Upgrade
Operating Cash Flow Growth	10.89%	-13.20%	71.26%	-38.95%	14.05%	23.21%	Upgrade
Capital Expenditures	-83.8	-108	-72.6	-70.3	-75.1	-56.8	Upgrade
Cash Acquisitions	-124.6	-145.9	-16.8	-8	-207.6	-	Upgrade
Investment in Securities	15.7	-13.2	65.3	86.4	-67.2	68.6	Upgrade
Investing Cash Flow	-192.7	-267.1	-24.1	8.1	-349.9	11.8	Upgrade
Long-Term Debt Issued	-	69.7	-	150.6	83.5	-	Upgrade
Long-Term Debt Repaid	-	-	-218.1	-	-	-170.8	Upgrade
Net Debt Issued (Repaid)	69.8	69.7	-218.1	150.6	83.5	-170.8	Upgrade
Issuance of Common Stock	1.6	18.1	23.4	-	32.1	-	Upgrade
Repurchase of Common Stock	-404.1	-305.8	-306.5	-403.5	-366.5	-56.7	Upgrade
Common Dividends Paid	-194.6	-190.4	-183.5	-177.2	-170.1	-158.7	Upgrade
Other Financing Activities	-	-	-	-0.7	-	11.4	Upgrade
Financing Cash Flow	-527.3	-408.4	-684.7	-430.8	-421	-374.8	Upgrade
Foreign Exchange Rate Adjustments	-2.2	-6.6	-12.8	-20.8	-	-	Upgrade
Net Cash Flow	-66.6	-100.3	-51.3	-52.1	-129.8	199.1	Upgrade
Free Cash Flow	571.8	473.8	597.7	321.1	566	505.3	Upgrade
Free Cash Flow Growth	18.16%	-20.73%	86.14%	-43.27%	12.01%	28.97%	Upgrade
Free Cash Flow Margin	14.93%	12.41%	15.51%	8.55%	15.99%	17.45%	Upgrade
Free Cash Flow Per Share	3.99	3.22	3.96	2.06	3.51	3.11	Upgrade
Cash Income Tax Paid	187.7	187.7	189.5	175.4	131.2	114.1	Upgrade
Levered Free Cash Flow	454.04	390	497.16	185.19	431.68	448.26	Upgrade
Unlevered Free Cash Flow	462.48	394.19	504.66	191.06	434.36	452.83	Upgrade
Change in Working Capital	18.8	-45.6	12.8	-181.9	64.2	124.5	Upgrade

Updated Sep 30, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.