For the year ending 2025-12-31, AAON had -$5,275K decrease in cash & cash equivalents over the period.
| Cash Flow | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 |
|---|---|---|---|---|
| Net income | 107,593 | 168,559 | 177,623 | 100,376 |
| Gain on disposition of assets | - | - | 13 | 12 |
| Depreciation and amortization | 79,191 | 62,735 | 46,468 | 35,106 |
| Foreign currency transaction (gain) loss | - | - | 10 | -41 |
| Amortization of debt issuance costs | 394 | 154 | 82 | 43 |
| Amortization of right of use assets | 166 | 189 | 324 | 324 |
| Provision for (recoveries of) losses on accounts receivable, net of adjustments | 70 | 715 | -154 | -72 |
| Provision for losses on contract assets, net of adjustments | 200 | 399 | - | - |
| Provision for (recoveries of) excess and obsolete inventories, net of write-offs | 152 | -968 | 1,633 | 2,740 |
| Share-based compensation | 17,994 | 16,729 | 16,384 | 13,700 |
| Other | -15 | -4 | - | - |
| Deferred income taxes | 31,149 | -6,606 | -6,527 | -13,332 |
| Accounts receivable | 167,023 | 10,041 | 9,978 | 56,306 |
| Income tax receivable | 23,330 | 5,285 | 11,302 | -18,195 |
| Inventories | 73,883 | -27,080 | 16,226 | 71,409 |
| Contract assets | 111,816 | 90,626 | 30,043 | 9,402 |
| Prepaid expenses and other long-term assets | 11,673 | 3,707 | 1,048 | 2,367 |
| Accounts payable | 52,904 | 16,959 | -18,316 | 11,574 |
| Contract liabilities | 65,757 | 1,156 | -7,667 | 13,882 |
| Extended warranties | 831 | 1,835 | 2,600 | 1,314 |
| Interest income on note receivable | - | - | 21 | 22 |
| Accrued liabilities and other long-term liabilities | 31,873 | 13,259 | 15,086 | 16,945 |
| Net cash provided by operating activities | 534 | 192,532 | 158,895 | 61,318 |
| Capital expenditures | 190,563 | 195,660 | 104,294 | - |
| Proceeds from government incentive grant | 12,000 | - | - | - |
| Proceeds from sale of property, plant and equipment | 40 | 25 | 129 | 12 |
| Insurance proceeds | - | - | - | 0 |
| Acquisition of intangible assets | 14,329 | 17,491 | 5,197 | - |
| Principal payments from note receivable | 435 | 51 | 51 | 48 |
| Capital expenditures | - | - | - | 54,024 |
| Cash paid in business combination, net of cash acquired | - | 0 | 0 | 249 |
| Cash paid for building (note 4) | - | - | 0 | 22,000 |
| Net cash used in investing activities | -192,417 | -213,075 | -109,311 | -76,213 |
| Borrowings of debt | 915,391 | 717,897 | 597,111 | 225,758 |
| Principal payments on financing lease | - | 0 | 0 | 115 |
| Payments of debt | 672,204 | 601,091 | 629,787 | 194,754 |
| Proceeds from financing obligation, net of issuance costs | 0 | 4,186 | 6,061 | - |
| Payment related to financing costs | 1,395 | 664 | 398 | - |
| Stock options exercised | 17,144 | 31,861 | 33,259 | 23,140 |
| Repurchase of stock - open market | 29,995 | 100,034 | 25,009 | 12,737 |
| Repurchases of stock - ltip plans (note 18) | 9,730 | 8,037 | 1,302 | 1,018 |
| Cash dividends paid to stockholders | 32,603 | 26,084 | 26,445 | 22,917 |
| Net cash provided by (used in) financing activities | 186,608 | 18,034 | -46,510 | 17,357 |
| Net (decrease) increase in cash, cash equivalents, and restricted cash | -5,275 | -2,509 | 3,074 | 2,462 |
| Cash, cash equivalents, and restricted cash, beginning of year | 6,514 | - | - | - |
| Cash, cash equivalents, and restricted cash, end of year | 1,239 | - | - | - |
AAON, INC. (AAON)
AAON, INC. (AAON)