Financial Statements

A. O. Smith Corporation (AOS)

$88.85

+0.97 (+1.10%)

Cash Flow Statement

All numbers are in thousands
Year XLSX
2023
XLSX
2022
XLSX
2021
XLSX
2020
XLSX
2019
Operating Cash Flow 670,300391,400641,100562,100456,200
Net Income 556,600235,700487,100344,900370,000
Depreciation & Amortization 78,30076,90077,90080,00078,300
Deferred income taxes -3,600-167,700-159,800-79,700-136,600
Stock-based compensation 11,50011,10011,90012,70013,300
Change in working capital 12,800-181,90064,200124,500-5,400
Other non-cash items 14,700417,300159,80079,700136,600
Investing Cash Flow -24,1008,100-349,90011,80033,900
Investments in PPE -72,600-70,300-75,100-56,800-64,400
Acquisitions -16,800-8,000-207,60056,800-107,000
Investment purchases -63,100-91,600-185,400-157,400-272,700
Sales/Maturities of investments 128,400178,000118,200226,000478,000
Other Investing Activites ----56,800-
Financing Cash Flow -684,700-430,800-421,000-374,800-375,800
Debt repayment -218,100-150,600-83,500-170,800-62,600
Dividends payments -183,500-177,200-170,100-158,700-149,200
Common Stock Repurchased -306,500-403,500-366,500-56,700-287,700
Common Stock Issuance 23,400-70032,10011,400-62,600
Other Financing Activites -301,200167,000-186,300
Accounts receivables 19,20042,500-33,400-88,50029,100
Accounts payables -21,400-89,400142,90085,600-35,400
Inventory 18,100-82,800-109,5002,9006,300
Other working capital -3,100-52,20064,200124,500-5,400
Cash at beginning of period 391,200443,300573,100374,000259,700
Cash at end of period 339,900391,200443,300573,100374,000
Capital Expenditure -72,600-70,300-75,100-56,800-64,400
Effect of forex changes on cash -12,800-20,800---
Net cash flow / Change in cash -51,300-52,100-129,800199,100114,300
Free Cash Flow 597,700321,100566,000505,300391,800

A. O. Smith Corporation income statement is the only one that provides an overview of company sales and net income
The reasoning behind the adjustment, however, is that free cash flow is meant to measure money being spent right now, not transactions that happened in the past. This makes A. O. Smith Corporation FCF a useful instrument for identifying growing companies with high up-front costs, which may eat into earnings now but have the potential to pay off later.