A. O. Smith (AOS)

12 source-declared links to this operating channel

• Leonard Valve

  Included in consolidated path · unknown

  Condition, timing and source

  Contribution expected in 2026.

  Model setting: Leonard Valve acquisition contributes approximately $70 million to 2026 sales; included in consolidated revenue guidance.

  Affected fields: revenue_growth. This is a published model binding, not measured delivery or an incremental price contribution.

  Source date: 2026-09-01 16:52:01+00:00. Initiative ID: Ifa898f34199930e5.

  Source references: 903524 / 3546cb81-a3d9-5ee5-ae42-1cd20a264e92.

  Initiative-specific comparable scope, accounting basis, units and full-year observation period are not declared in this binding. Delivery against the required path remains unverified.

• expand our dealer network

  Included in consolidated path · unknown

  Condition, timing and source

  Expansion of dealer network and pricing actions drive growth, offset by softness in consumer channels.

  Model setting: Contributes to 5-6% revenue growth in North America water treatment, partially offset by consumer channel softness.

  Affected fields: revenue_growth. This is a published model binding, not measured delivery or an incremental price contribution.

  Source date: 2026-07-30 20:07:23+00:00. Initiative ID: I533f43a66b874d7e.

  Source references: 903498 / 8690bced-c7d4-5f4e-ac5c-b2851f4540f2.

  Initiative-specific comparable scope, accounting basis, units and full-year observation period are not declared in this binding. Delivery against the required path remains unverified.

• Leonard Valve

  Included in consolidated path · progress reported

  Condition, timing and source

  Leonard Valve projected to contribute ~$70M in 2026 sales; H1 2026 actuals were $31.8M.

  Model setting: Add ~$70M projected 2026 sales contribution to revenue growth; H1 actuals of $31.8M are already in operating reference.

  Affected fields: revenue_growth. This is a published model binding, not measured delivery or an incremental price contribution.

  Source date: 2026-07-30 20:07:23+00:00. Initiative ID: Ie4cacbf32430e3af.

  Source references: 903498 / b481bdbf-32f4-50e0-8bc2-2d76c573c6e6; 903498 / dc905c59-0cca-5c3d-a8fe-86180275badb; 903498 / b481bdbf-32f4-50e0-8bc2-2d76c573c6e6.

  Initiative-specific comparable scope, accounting basis, units and full-year observation period are not declared in this binding. Delivery against the required path remains unverified.

12 source-declared links to this operating channel

• restructuring plan in its North America water treatment business

  Included in consolidated path · unknown

  Condition, timing and source

  Restructuring plan in North America water treatment business to increase operational efficiency and accelerate growth.

  Model setting: Apply restructuring cost impact to operating margin; benefits are qualitative (efficiency/growth) and not quantified in the supplied evidence.

  Affected fields: operating_margin. This is a published model binding, not measured delivery or an incremental price contribution.

  Source date: 2026-07-30 20:07:23+00:00. Initiative ID: I260e99e99bd503d3.

  Source references: 903498 / b481bdbf-32f4-50e0-8bc2-2d76c573c6e6.

  Initiative-specific comparable scope, accounting basis, units and full-year observation period are not declared in this binding. Delivery against the required path remains unverified.

• restructuring plan in its water treatment business

  Included in consolidated path · unknown

  Condition, timing and source

  Restructuring plan in water treatment business for ~$20M to increase efficiency and accelerate growth.

  Model setting: Apply $20M restructuring cost (net of asset sale proceeds) to operating margin; benefits are qualitative.

  Affected fields: operating_margin. This is a published model binding, not measured delivery or an incremental price contribution.

  Source date: 2026-07-30 20:07:23+00:00. Initiative ID: Id9f0b627f4042e76.

  Source references: 903498 / dc905c59-0cca-5c3d-a8fe-86180275badb.

  Initiative-specific comparable scope, accounting basis, units and full-year observation period are not declared in this binding. Delivery against the required path remains unverified.

• North America water treatment pre-tax restructuring and impairment expenses

  Included in consolidated path · progress reported

  Condition, timing and source

  Expense expected to be recognized in second quarter 2026.

  Model setting: Include $20M pre-tax restructuring and impairment expense in Q2 2026 operating margin calculation.

  Affected fields: operating_margin. This is a published model binding, not measured delivery or an incremental price contribution.

  Source date: 2026-04-30 20:27:07+00:00. Initiative ID: If2286d26f16c3c42.

  Source references: 903487 / 8b4eebe8-8628-5927-a6bc-854b1aefb717.

  Initiative-specific comparable scope, accounting basis, units and full-year observation period are not declared in this binding. Delivery against the required path remains unverified.

12 source-declared links to this operating channel

• acquisition of LVC Holdco LLC (“Leonard Valve”)

  Included in consolidated path · delivered

  Condition, timing and source

  Acquisition completed January 6, 2026; valued at approximately $412 million after tax adjustments; funded via $470 million term loan; expands water management and digital offerings.

  Model setting: Consolidate acquired revenue and margin contribution into consolidated totals; include acquisition-related capex and transaction costs in operating and investment metrics.

  Affected fields: revenue_growth, operating_margin, net_ppe_investment_ratio. This is a published model binding, not measured delivery or an incremental price contribution.

  Source date: 2026-01-29. Initiative ID: I5cbe7d26ce71ff9f.

  Source references: 903530 / 0379738c-bad9-5b94-b3de-8f64605b1fe2; 903530 / 0379738c-bad9-5b94-b3de-8f64605b1fe2.

  Initiative-specific comparable scope, accounting basis, units and full-year observation period are not declared in this binding. Delivery against the required path remains unverified.

• acquire LVC Holdco LLC (“Leonard Valve”)

  Included in consolidated path · delivered

  Condition, timing and source

  Acquisition consummated January 6, 2026; expected to be accretive to EPS and margin in 2026; $6M transaction expense in 2026 Q1.

  Model setting: Consolidate Leonard Valve acquisition into 2026 revenue and margin; treat as accretive to EPS and margin per guidance; include one-time transaction costs in 2026 Q1 operating expenses.

  Affected fields: revenue_growth, operating_margin, net_ppe_investment_ratio. This is a published model binding, not measured delivery or an incremental price contribution.

  Source date: 2026-01-06 21:45:29+00:00. Initiative ID: I095cdb0166608618.

  Source references: 903492 / d52f223d-0d34-58af-a43d-81e9c919a932.

  Initiative-specific comparable scope, accounting basis, units and full-year observation period are not declared in this binding. Delivery against the required path remains unverified.

• build out that platform

  Included in consolidated path · progress reported

  Condition, timing and source

  Platform build-out is ongoing, with 11% growth in Q3 and a target of 10-12% organic growth.

  Model setting: North America water treatment platform build-out is ongoing, contributing to revenue growth and margin expansion, and requiring net PPE investment.

  Affected fields: revenue_growth, operating_margin, net_ppe_investment_ratio. This is a published model binding, not measured delivery or an incremental price contribution.

  Source date: 2025-10-28. Initiative ID: I84fd3f81670cf311.

  Source references: 903531 / 669340f9-4968-5674-a3d5-20883bf12b33; 903531 / 669340f9-4968-5674-a3d5-20883bf12b33.

  Initiative-specific comparable scope, accounting basis, units and full-year observation period are not declared in this binding. Delivery against the required path remains unverified.