v3.25.2
Segments
 6 Months Ended
Jun. 30, 2025
Segment Reporting [Abstract]  
Segments Segments
The Company has determined that it has three reportable segments for financial reporting purposes.
AAON Oklahoma: AAON Oklahoma engineers, manufactures and sells semi-custom and custom HVAC systems, designs and manufactures controls solutions, and sells aftermarket parts to customers through retail part stores and online. AAON Oklahoma includes the operations of our Tulsa, Oklahoma, Memphis, Tennessee and Parkville, Missouri manufacturing facilities, two retail locations, and the Norman Asbjornson Innovation Center (“NAIC”) research and development laboratory accredited by the Air Movement and Control Association International, Inc. (“AMCA”).
With the NAIC, a world-class research and development (“R&D”) laboratory in Tulsa, Oklahoma, our products are continuously tested under a variety of extreme environmental conditions to ensure they deliver the ultimate performance, efficiency, and value.
Also located in Tulsa, Oklahoma, our cutting-edge Exploration Center showcases the engineering, design attributes, and premium build quality of our equipment side-by-side the market alternatives.
AAON Coil Products: AAON Coil Products engineers and manufactures a selection of our semi-custom, and custom HVAC systems as well as a variety of heating and cooling coils to be used in HVAC systems, mostly for the benefit of AAON Oklahoma, AAON Coil Products, and BASX. AAON Coil Products consists of operations at our Longview, Texas manufacturing facilities. BASX branded products are also manufactured in Longview.
BASX: BASX engineers, manufactures, and sells an array of custom, high-performance cooling solutions for the rapidly growing hyperscale data center market, ventilation solutions for cleanroom environments in the bio-pharmaceutical, semiconductor, medical and agriculture markets, and highly custom, air handlers and modular solutions for a vast array of markets. BASX consists of operations at our Redmond, Oregon manufacturing facilities.
The Company’s chief operating decision maker (“CODM”), our CEO, allocates resources and assesses the performance of each operating segment using information about the operating segment’s net sales, cost of sales, and gross profit directly attributable to our segments. The CODM does not evaluate operating segments using asset or liability information.
Due to the integrated nature of our Company as well as the increasing production of both AAON and BASX branded products across different segments, other costs and expenses, such as selling, general and administrative including corporate expense, are evaluated and resources allocated at a consolidated level.
The following table summarizes certain financial data related to our segments and significant segment expenses and other segment items regularly reviewed by our CODM. Transactions between segments are recorded based on prices negotiated between the segments. The cost of sales and gross profit amounts shown below are presented after elimination entries.
Three Months EndedSix Months Ended
 June 30,
2025		June 30,
2024		June 30,
2025		June 30,
2024
(in thousands)(in thousands)
AAON Oklahoma
     External sales$185,120 $225,727 $346,958 $435,867 
     Inter-segment sales5,318 1,311 9,157 2,982 
Eliminations(5,318)(1,311)(9,157)(2,982)
     Net sales185,120 225,727 346,958 435,867 
     Cost of sales1
134,237 141,857 258,102 273,586 
     Gross profit50,883 83,870 88,856 162,281 
AAON Coil Products
     External sales$58,465 $31,373 $152,488 $55,620 
     Inter-segment sales6,073 8,942 12,279 18,273 
Eliminations(6,073)(8,942)(12,279)(18,273)
     Net sales58,465 31,373 152,488 55,620 
     Cost of sales1
45,602 18,214 107,140 34,322 
     Gross profit12,863 13,159 45,348 21,298 
BASX
     External sales$67,982 $56,466 $134,175 $84,178 
     Inter-segment sales507 220 550 222 
Eliminations(507)(220)(550)(222)
     Net sales67,982 56,466 134,175 84,178 
     Cost of sales1
48,999 40,401 99,286 62,421 
     Gross profit18,983 16,065 34,889 21,757 
Consolidated gross profit$82,729 $113,094 $169,093 $205,336 
1 Presented after intercompany eliminations.
The reconciliation between consolidated gross profit to consolidated income from operations is as follows:
Consolidated gross profit$82,729 $113,094 $169,093 $205,336 
Less: Selling, general and administrative expenses59,147 45,895 110,440 91,183 
Add: Gain on disposal of assets— — 40 16 
Consolidated income from operations$23,582 $67,199 $58,693 $114,169 
The following table presents long-lived assets by reportable segment, which includes property and equipment, net and operating lease assets:
June 30,
2025		December 31,
2024
Long-lived assets(in thousands)
AAON Oklahoma$335,977 $321,597 
AAON Coil Products151,301 122,515 
BASX89,996 81,680 
            Total long-lived assets$577,274 $525,792 
The following table presents intangible assets and goodwill, net, by reportable segment:
Intangible assets, net and goodwill
AAON Oklahoma$20,844 $22,966 
AAON Coil Products3,759 — 
BASX137,704 137,186 
            Total intangible assets, net and goodwill$162,307 $160,152