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YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
2022
2021
Definite-lived intangible assets
(in thousands)
Intellectual property
6,295
6,479
Customer relationships
47,547
48,684
Less: Accumulated amortization
(3,807)
(208)
Total, net
... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
the Company anticipates amortization expense to be approximately $3.6 million for each of the years ended 2023 through 2027.
9.
Supplemental Cash Flow Information
Years Ended December 31,
2022
... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
25 years for certain heat exchangers. AAON, INC. has an obligation to replace parts if conditions under the warranty are met. A provision is made for estimated warranty costs at the time the related ... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
630
Balance, end of period
15,682
13,769
13,522
Warranty expense:
8,497
6,351
6,621
54
11. Accrued Liabilities and Other Long-Term Liabilities
Accrued liabilities were comprised of the fol... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
, short-term
637
438
Accrued income taxes
12,472
Employee vacation time
6,329
4,362
Extended warranties, short-term
1,330
1,593
Lease liability, short-term
1,254
1,580
Other
2,734
2,3... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
cannot be determined pursuant to the definition, as defined by the Revolver agreement, any outstanding effected loans will be deemed to have been converted into alternative base rate ("ABR") loans. ... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
, 2022, our leverage ratio was 0.46 to 1.0, which meets the requirement of not being above 3 to 1.
The previous revolving credit facility, prior to November 24, 2021, allowed for maximum borrowings ... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
Income tax provision
24,157
10,424
22,966
The provision for income taxes differs from the amount computed by applying the statutory Federal income tax rate before the provision for income taxes... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
0.3)
0.1
Research and development tax credits
(2.1)
(1.1)
(0.9)
Other
(0.9)
0.2
0.2
Effective tax rate
19.4
15.1
22.5
On May 21, 2021, the State of Oklahoma enacted House Bill 2960, eff... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
-through method of accounting for the investment tax credits earned on eligible tangible asset expenditures. Under this method, the investment tax credits are recognized as a reduction to our Oklahom... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
2021 (Note 4), we identified additional eligible expenses related to qualified research and development activities.
Deferred income taxes reflect the net tax effects of temporary differences between... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
carryforward
3,115
3,404
Other, net
2,339
4,112
34,494
20,790
Valuation allowance
(3,115)
(3,404)
Net deferred income tax assets
31,379
17,386
Property & equipment
(50,040)
(49,379)
... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
requirements for tax purposes is a mid-year convention, meaning that the tax amortization is 10% in the year of acquisition, 20% in the following 4 years, and 10% in the final year. Estimated Sectio... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
, have established a valuation allowance against this deferred tax asset.
The amount of income tax that we pay annually is dependent on various factors, including the timing of certain deductions. T... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
various state jurisdictions. Any interest or penalties would be recognized as a component of income tax expense.
57
14. Share-Based Compensation
On May 22, 2007, our stockholders adopted a Long-... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
for approximately 8.9 million shares, comprised of 3.4 million new shares provided for under the 2016 Plan, approximately 0.4 million shares that were available for issuance under the previous LTIP ... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
of shares granted may not be less than 100% of the fair market value at the date of the grant. The 2016 Plan is administered by the Compensation Committee of the Board of Directors or such other com... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
2016 Plan.
Options
The following weighted average assumptions were used to determine the fair value of the stock options granted on the original grant date for expense recognition purposes for opt... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
0.38
0.32
Expected volatility
37.49
38.67
31.39
Risk-free interest rate
2.35
0.32
0.67
Expected life (in years)
3.0
3.0
5.0
1 Senior Leadership Team ("SLT") consists of officers and k... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
is a summary of stock options vested and exercisable as of December 31, 2022:
WeightedAverage
Weighted
Range of
Number
Remaining
Average
Exercise
of
Contractual
Exercise
Intrinsic
Prices... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
,803
A summary of option activity under the plans is as follows:
WeightedAverageExercise
Options
Shares
Price
Outstanding at December 31, 2021
3,365,469
42.88
Granted
465,515
55.40
Exerci... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
12.9 million and is expected to be recognized over a weighted-average period of 1.6 years.
59
Restricted Stock
The fair value of restricted stock awards is based on the fair market value of AAON c... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
68,020
53.97
Vested
(72,936)
45.31
Forfeited
(11,483)
48.23
Unvested at December 31, 2022
144,826
50.00
PSUs
We have awarded performance restricted stock units ("PSUs") to certain offic... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
years. At the end of the measurement period, each award will be converted into AAON common stock at 0% to 200% of the PSUs held, depending on overall TSR as compared to the S&P SmallCap 600 Index be... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
2
2021
Expected dividend rate
0.38
0.38
Expected volatility
37.60
39.10
Risk-free interest rate
2.00
0.28
Expected life (in years)
2.80
2.80
The expected term of the PSUs is based on th... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
31, 2021
16,851
87.78
Granted
50,839
44.74
Vested
Forfeited
(5,031)
62.14
Unvested at December 31, 20221
62,659
54.92
1 Consists of 14,817 PSUs cliff vesting December 31, 2024 and 47,842... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
the vesting period. The potential future issuance of the Key Employee Awards is contingent upon BASX meeting certain post-closing earn-out milestones during each of the years ending 2021, 2022, and ... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
be recognized over a weighted average period of approximately 1.0 year.
A summary of the unvested Key Employee Awards is as follows:
Shares
Weighted Average Grant Date Fair Value
Unvested at Dec... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
010
12,615
Restricted stock
3,671
2,517
3,316
PSUs
2,275
1,622
Key employee awards
1,572
Total
12,468
12,721
15,931
2022
2021
2020
Share-based compensation expense:
(in thousands)
... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
715
4,571
2,698
Restricted stock
241
837
519
Total
2,956
5,408
3,217
15. Employee Benefits
Defined Contribution Plan - 401(k
We sponsor a defined contribution plan (the “Plan”). Eligible... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
contributing employees deferral rates will be increased to 6.0% unless their current rate is above 6.0% or the employee elects to decline the automatic enrollment or increase. Administrative expense... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
Profit Sharing Bonus Plans
We maintain a discretionary profit sharing bonus plan under which approximately 10.0% of pre-tax profit from AAON Oklahoma and AAON Coil Products is paid to eligible emp... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
based on days-of-pay during the fiscal year. Eligible employees are regular full-time and part-time employees who have worked during the year and are still employed when the EIP payment is made foll... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
our historical claims experience. Eligible employees are regular full-time employees who are actively employed and working. Participants are expected to pay a portion of the premium costs for covera... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
health savings account to assist employees with health insurance plan deductibles.
Years Ended December 31,
2022
2021
2020
(in thousands)
Medical claim payments
10,459
9,640
9,060
Health s... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
reement Execution Date
Authorized Repurchase $
Expiration Date
March 5, 2019 1
$20 million
March 4, 2020
March 13, 2020
$20 million
November 9, 2022
November 3, 2022
$50 million
*2
1 The ... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
or employees are contingent upon Board approval. All repurchases are done at current market prices.
Lastly, the Company also had a stock repurchase arrangement by which employee-participants in our... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
,823
55.87
103,689
4,987
48.10
401(k)
103,936
5,913
56.89
297,772
20,876
70.11
438,921
25,073
57.12
Directors & employees
17,228
1,019
59.15
22,526
1,590
70.59
23,272
1,169
50... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
:
Inception to Date
(in thousands, except share and per share data)
Program
Shares
Total $
$ per share
Open market
4,327,367
81,616
18.86
401(k)
8,308,368
171,789
20.68
Directors & emp... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
Date
Payment Date
Dividend per Share
May 15, 2020
June 3, 2020
July 1, 2020
$0.19
November 10, 2020
November 27, 2020
December 18, 2020
$0.19
May 17, 2021
June 3, 2021
July 1, 2021
$0.... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
8, 2022
November 28, 2022
December 16, 2022
$0.24
We paid cash dividends of $22.9 million, $19.9 million, and $19.8 million in 2022, 2021, and 2020, respectively.
Contingent Shares Issued in BA... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
shares do not accrue dividends.
Under the MIPA Agreement, the potential future issuance of the shares is contingent upon BASX meeting certain post-closing earn-out milestones during each of the yea... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
additional shares have been issued as of February 22, 2023.
17. New Markets Tax Credit
On October 24, 2019, the Company entered into a transaction with a subsidiary of an unrelated third-party fi... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
Project.
Upon closing of the NMTC transaction, the Company provided an aggregate of approximately $15.9 million to the Investor, in the form of a loan receivable, with a term of twenty-five years, ... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
Company can exercise the call, both of which could serve to trigger forgiveness of a portion of the debt. The value attributable to the put/call is nominal. The Investor's interest of $6.4 million i... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
the Internal Revenue Code requirements. AAON, INC. is required to be in compliance with various regulations and contractual provisions that apply to the NMTC arrangement. Noncompliance with applicab... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
collecting and remitting interest and fees and NMTC compliance, were all considered in the initial design and are not expected to significantly affect performance throughout the life of the VIE;
co... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
avtech Litigation
On January 24, 2022, one of the Company’s former independent sales representative firms, Havtech, LLC (and its affiliate, Havtech Parts Division, LLC, collectively “Plaintiffs”), f... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
The First Amended Complaint asserts that the Company improperly terminated Plaintiffs and seeks damages alleged to be no less than $48.6 million, plus fees and costs. AAON, INC. filed its Answer to ... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
position, results of operations or cash flows and we accrue and/or disclose loss contingencies as appropriate. We do not believe these matters will have a material adverse effect on our business, f... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
a third-party manufacturer to purchase certain assets to design and manufacture fan wheels for the purchase price of $6.5 million. As of December 31, 2022, we have paid approximately $3.5 million re... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
Us. ASUs not listed below were assessed and determined to be either not applicable or are expected to have minimal impact on our consolidated financial statements and notes thereto.
20. Earnings Per... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
per share data)
Net income
100,376
58,758
79,009
Denominator:
Basic weighted average shares
53,054,986
52,404,199
52,168,679
Effect of dilutive shares related to stock based compensation1
... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
605,480
304,029
364,787
1 Dilutive shares related to stock options, restricted stock, PSUs and Key Employee Awards (Note 14)
2 Dilutive shares related to contingent shares issued to former owne... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
2021 through May 31, 2022 (Note 4
, the Company leased a manufacturing and office facility in Redmond, Oregon from an entity in which certain members of BASX management have an ownership interest. T... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
three reportable segments for financial reporting purposes. Management evaluates the performance of its business segments primarily on gross profit. AAON, INC.'s chief decision maker ("CODM"), our C... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
research and development laboratory facility in Tulsa, Oklahoma, the Company is able to test units under various environmental conditions. AAON Oklahoma includes the operations of our Tulsa, Oklahom... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
cleanroom HVAC systems, commercial/industrial HVAC systems, and modular solutions. Additionally, BASX designs and manufactures cleanroom environmental control systems to support hospital surgical su... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
,504
2,683
AAON Coil Products
External sales
107,290
66,589
55,594
Inter-segment sales
30,932
24,250
21,552
BASX1
External sales
117,653
4,083
Inter-segment sales
79
Eliminations
(3... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
137,830
155,849
December 31,
2022
2021
(in thousands)
Long-lived assets
AAON Oklahoma
213,731
183,840
AAON Coil Products
68,013
62,534
BASX
35,578
28,662
Total long-lived assets
317,... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
11, 2021.
Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure.
None.
69
Item 9A. Controls and Procedures.
(a)
Evaluation of Disclosure Controls and P... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
file or submit under the Exchange Act is accumulated and communicated to our management, including our principal executive and principal financial officers, as appropriate, to allow timely decisions... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
financial reporting and the preparation of financial statements for external purposes in accordance with U.S. GAAP.
Because of its inherent limitations, internal control over financial reporting ma... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
2.
The effectiveness of the Company’s internal control over financial reporting as of December 31, 2022 has been audited by Grant Thornton LLP, our independent registered public accounting firm, as ... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
financial reporting of AAON, Inc. (a Nevada corporation) and subsidiaries (the “Company”) as of December 31, 2022, based on criteria established in the 2013
Internal Control—Integrated Framework
i... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
ended December 31, 2022, and our report dated February 27, 2023 expressed an unqualified opinion on those financial statements.
Basis for opinion
AAON, INC.’s management is responsible for maintai... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether effective internal control over financial repor... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
internal control over financial reporting includes those policies and procedures that (1) pertain to the maintenance of records that, in reasonable detail, accurately and fairly reflect the transact... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
effectiveness to future periods are subject to the risk that controls may become inadequate because of changes in conditions, or that the degree of compliance with the policies or procedures may det... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
to be held on May 16, 2023.
Code of Ethics
We adopted a code of ethics that applies to our principal executive officer, principal financial officer, and principal accounting officer or persons per... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
and (e)(5) of Regulation S-K is incorporated by reference to the information contained in our definitive Proxy Statement to be filed with the Securities and Exchange Commission in connection with ou... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
404 of Regulation S-K and paragraph (a) of Item 407 of Regulation S-K is incorporated by reference in our definitive proxy statement relating to our annual meeting of stockholders scheduled to be he... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
material related party transactions in 2022, 2021, or 2020.
Item 14.
Principal Accountant Fees and Services.
This information is incorporated by reference in our definitive Proxy Statement to be ... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
applicable.
(3)
The exhibits listed at item (b) below are filed as part of, or incorporated by reference into, this Form 10-K.
(b)
Exhibits:
(3)
(A)
Amended and Restated Articles of Incorpora... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
(v)
(10.2)
AAON, Inc. 2007 Long-Term Incentive Plan, as amended (vi)
(10.3)
AAON, Inc. 2016 Long-Term Incentive Plan (iv)
(21)
List of Subsidiaries
(23)
Consent of Grant Thornton LLP
(31.1)... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
RL Instance Document
(101)
(SCH)
Inline XBRL Taxonomy Extension Schema
(101)
(CAL)
Inline XBRL Taxonomy Extension Calculation Linkbase
(101)
(DEF)
Inline XBRL Taxonomy Extension Definition L... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
ended December 31, 2014.
(iii)
Incorporated herein by reference to exhibit to our Form 8-K dated November 24, 2021.
73
(iv)
Incorporated herein by reference to our Form S-8 Registration Stateme... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
-8 Registration Statement No. 333-52824.
(vi)
Incorporated herein by reference to our Form S-8 Registration Statement No. 333-151915, Form S-8 Registration Statement No. 333-207737.
(vii)
Incorpo... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
to be signed on its behalf by the undersigned, hereunto duly authorized.
AAON, INC.
Dated:
February 27, 2023
By:
/s/ Gary D. Fields
Gary D. Fields, Chief Executive Officer
75
Pursuant to the... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
Financial Officer(principal financial officer)
Dated:
February 27, 2023
/s/ Christopher D. Eason
Christopher D. EasonChief Accounting Officer(principal accounting officer)
Dated:
February 27, ... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
:
February 27, 2023
/s/ A.H. McElroy II
A.H. McElroy IIDirector
Dated:
February 27, 2023
/s/ David R. Stewart
David R. StewartDirector
Dated:
February 27, 2023
/s/ Bruce Ware
Bruce WareDir... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 10-Q
QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the quarterly perio... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
jurisdiction
(IRS Employer
of incorporation or organization)
Identification No.)
2425 South Yukon Ave.,
Tulsa,
Oklahoma
74107
(Address of principal executive offices) (Zip Code)
(918) 583-2... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.
Yes
No
Indicate by check mark whether the re... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
accelerated filer", "small reporting company", and "emerging growth company" in Rule 12b-2 of the Exchange Act.
Large accelerated filer
Accelerated filer
Non-accelerated filer
Smaller reporting c... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
252,713 shares of its $.004 par value Common Stock.
PART I – FINANCIAL INFORMATION
Item 1. Financial Statements.
AAON, Inc. and Subsidiaries
Consolidated Balance Sheets
(Unaudited)
March 31, 2... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
and other
5,540
1,919
Total current assets
384,179
349,116
Property, plant and equipment:
Land
8,904
8,537
Buildings
177,119
169,156
Machinery and equipment
360,628
342,045
Furniture... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
166
7,123
Other long-term assets
6,407
6,421
Total assets
867,914
813,903
Liabilities and Stockholders' Equity
Current liabilities:
Accounts payable
29,561
45,513
Accrued liabilities
86... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
:
Preferred stock, $.001 par value, 5,000,000 shares authorized, no shares issued
Common stock, $.004 par value, 100,000,000 shares authorized, 54,201,863 and 53,425,184 issued and outstanding at M... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
statements.
1 -
AAON, Inc. and Subsidiaries
Consolidated Statements of Income
(Unaudited)
Three Months Ended March 31,
2023
2022
(in thousands, except share and per share data)
Net sales
... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
22,841
Income tax provision
6,356
4,782
Net income
36,814
18,059
Earnings per share:
Basic
0.69
0.34
Diluted
0.67
0.33
Cash dividends declared per common share:
0.12
Weighted average ... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
-in
Retained
Shares
Amount
Capital
Earnings
Total
(in thousands)
Balances at December 31, 2022
53,425
214
98,735
461,765
560,714
Net income
36,814
36,814
Stock options exercised, res... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
,120
609,414
Three Months Ended March 31, 2022
Common Stock
Paid-in
Retained
Shares
Amount
Capital
Earnings
Total
(in thousands)
Balances at December 31, 2021
52,528
210
81,654
384,30... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
)
Dividends
Balances at March 31, 2022
53,065
212
77,574
402,370
480,156
The accompanying notes are an integral part of these consolidated financial statements.
3 -
AAON, Inc. and Subsidiar... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
67
(Recoveries of) provision for credit losses on accounts receivable, net of adjustments
(56)
288
Provision for excess and obsolete inventories, net of write-offs
221
220
Share-based compen... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
expenses and other long-term assets
(3,613)
(3,588)
Accounts payable
(16,318)
6,325
Contract liabilities
713
17,998
Extended warranties
777
68
Accrued liabilities and other long-term lia... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
Borrowings under revolving credit facility
105,172
25,000
Payments under revolving credit facility
(92,512)
Stock options exercised
15,856
2,890
Repurchase of stock
(3,278)
Employee taxes... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
The accompanying notes are an integral part of these consolidated financial statements.
4 -
AAON, Inc. and Subsidiaries
Notes to the Consolidated Financial Statements
(Unaudited)
1. General
Bas... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
accounting principles (“U.S. GAAP”) for interim financial information and with the rules and regulations of the Securities and Exchange Commission (“SEC”).
Our financial statements consolidate all ... |
YOU are a financial analyst. You are reading a report of a company.
The report is about the company's financial status.
derived from audited consolidated financial statements. Accordingly, they do not include all of the information and notes required by U.S. GAAP for complete financial statements. The financial state... |
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