Investing For Growth - New Products and Research
Balance Sheet & Capital Deployment
As of September 30, 2022, AAON had $76 million of debt and an unrestricted cash balance of $11 million.
.
In 2013-2021, AAON has deployed an annual average 124% of operating cash flow via capital expenditures,
dividends, share repurchases and acquisitions.
In the last five years, regular dividends and intermittent share repurchases on average amounted to 31% and 40%
of annual earnings, respectively.
(in millions) 2013
2014
2015
2016
2017
2018
2019
2020
2021
Operating
$54
$54
$55
$64
$58
$55
$98
$129
$61
Cash Flow
Capital
$9
$16
$21
$27
$42
$37
$37
$68
$55
Expenditures
Dividends Paid
$7
$10
$12
$13
$14
$17
$17
$20
$20
Shares
$8
$29
$37
$20
$18
$28
$21
$31
$22
Repurchased
Acquisitions
$0
$0
$0
$0
$0
$6
$0
$0
$103
Total Capital
$25
$55
$70
$60
$74
$88
$75
$119
$200
Deployed
% of Operating
46%
102%
127%
94%
128%
160%
77%
92%
327%
Cash Flow
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