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CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Mar. 31, 2026	Dec. 31, 2025
Current Assets
Cash and cash equivalents	$ 185.2	$ 174.5
Marketable securities	18.7	18.7
Receivables	634.1	582.3
Inventories	488.5	479.3
Other current assets	41.9	36.7
Total Current Assets	1,368.4	1,291.5
Property, plant and equipment	1,579.8	1,564.5
Less accumulated depreciation	(947.6)	(929.4)
Net property, plant and equipment	632.2	635.1
Goodwill	919.9	710.6
Other intangibles	598.7	362.3
Operating lease assets	51.8	46.3
Other assets	79.3	97.0
Total Assets	3,650.3	3,142.8
Current Liabilities
Trade payables	543.0	504.1
Accrued payroll and benefits	60.7	93.6
Accrued liabilities	159.4	147.5
Product warranties	73.4	75.0
Debt due within one year	41.6	42.3
Total Current Liabilities	878.1	862.5
Long-term debt	574.2	112.7
Product warranties	137.0	134.7
Long-term operating lease liabilities	40.7	37.1
Other liabilities	142.4	137.8
Total Liabilities	1,772.4	1,284.8
Stockholders’ Equity
Capital in excess of par value	619.0	614.4
Retained earnings	4,019.8	3,951.8
Accumulated other comprehensive loss	(100.7)	(98.6)
Treasury stock at cost	(2,954.9)	(2,904.3)
Total Stockholders’ Equity	1,877.9	1,858.0
Total Liabilities and Stockholders’ Equity	3,650.3	3,142.8
Class A Common Stock
Stockholders’ Equity
Common Stock, value	130.0	130.0
Common Stock
Stockholders’ Equity
Common Stock, value	$ 164.7	$ 164.7

Carrying value as of the balance sheet date of obligations incurred (and for which invoices have typically been received) and payable to vendors for goods and services received that are used in an entity's business. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).

SMITH A O CORP 10-Q