A.O.史密斯2026年季度报告

SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549______________________________________________________ ☒QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2026.or ☐TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Delaware(State of Incorporation) Index A. O. Smith Corporation Part I.FINANCIAL INFORMATION Condensed Consolidated Statements of Earnings - Three Months Ended March 31, 2026 and 2025Condensed Consolidated Statements of Comprehensive Earnings - Three Months EndedMarch 31, 2026 and2025Condensed Consolidated Balance Sheets - March 31, 2026and December31, 2025Condensed Consolidated Statements of Cash Flows - Three Months EndedMarch 31, 2026 and 2025 Condensed Consolidated Statements of Stockholders’ Equity - Three Months Ended March 31, 2026 and 2025 A. O. SMITH CORPORATIONCONDENSED CONSOLIDATED STATEMENTS OF EARNINGS A. O. SMITH CORPORATIONCONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE EARNINGS Three Months EndedMarch 31,20262025 A. O. SMITH CORPORATIONCONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS A. O. SMITH CORPORATIONCONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ EQUITY A. O. SMITH CORPORATIONNOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS 1. Basis of Presentation The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with accountingprinciples generally accepted in the United States (GAAP) for interim financial information and pursuant to the rules and regulationsof the Securities and Exchange Commission (SEC). Accordingly, they do not include all of the information and footnotes required forcomplete financial statements. In the opinion of management, all adjustments (consisting of normal recurring accruals) considerednecessary for a fair presentation have been included. Operating results for the three months ended March31, 2026 are not necessarily Recent Accounting Pronouncements In December 2025, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2025-11, InterimReporting (Topic 270): Narrow-Scope Improvements, which clarifies the guidance in Topic 270 to improve the consistency of interimfinancial reporting. The ASU provides a comprehensive list of required interim disclosures and introduces a disclosure principlerequiring entities to disclose events since the end of the last annual reporting period that have a material impact on the entity. ASU In September 2025, the FASB issued ASU No. 2025-06, Intangibles-Goodwill and Other-Internal-Use Software (Subtopic 350-40),which modernizes the accounting guidance for internal-use software costs by eliminating the requirement to assess softwaredevelopment stages and introduces a new capitalization threshold. ASU 2025-06 is effective for fiscal years beginning after December15, 2027, with early adoption permitted. The Company is currently in the process of reviewing the guidance and evaluating the impact InNovember 2024,the FASB issued ASU 2024-03“Income Statement-Reporting Comprehensive Income(Topic 220):Disaggregation of Income Statement Expenses.” The ASU requires additional disclosures by disaggregating the costs and expense lineitems that are presented on the face of the income statement. The ASU is effective for the Company beginning with its 2027 annualdisclosures and subsequent interim periods. Early adoption is permitted. This ASU requires a public company to apply the In December 2023, the FASB amended Accounting Standards Codification (ASC) 740 (issued under ASU 2023-09, “Improvements toIncome Tax Disclosures”). This ASU requires added disclosures related to the tax rate reconciliation and income taxes paid andincludes other amendments intended to improve effectiveness and comparability. The update is effective for the Company beginningwith its 2025 annual disclosures and interim periods beginning in 2026. The adoption of ASU 2023-09 did not affect the Company’s 2. Revenue Recognition Substantially all of the Company’s sales are from contracts with customers for the purchase of its products. Contracts and customerpurchase orders are used to determine the existence of a sales contract. Shipping documents are used to verify shipment. Forsubstantially all of its products, the Company transfers control of products to the customer at the point in time when title and risk are The nature, timing and amount of revenue for a respective performance obligation are consistent for each customer. The Companymeasures the sales transaction price based upon the payment terms associated with the transaction and whether the sales price is Table of Contents 2. Revenue Recognition (continued) customers in China pay the Company prior to the shipment of products resulting in a customer deposits liability of $28.9 million and$34.2 million at March31, 2026 and December31, 2025, respectively. Customer deposit liabil