Cover
Cover | 12 Months Ended |
Dec. 31, 2022 | |
Document Information [Line Items] | |
Document Type | DEF 14A |
Amendment Flag | false |
Entity Information [Line Items] | |
Entity Registrant Name | AAON, INC. |
Entity Central Index Key | 0000824142 |
Pay vs Performance Disclosure
Pay vs Performance Disclosure - USD ($) | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Pay vs Performance Disclosure [Table] | |||
Pay vs Performance [Table Text Block] | Year Summary Compensation Table total for PEO ($) Compensation actually paid to PEO ($) Average Summary Compensation Table total for non-PEO named executive officers ($) Average compensation actually paid to non-PEO named executive officers ($) Value of initial fixed $100 investment based on: Net Income ($000s) Net Sales ($000s) Total shareholder return ($) S&P 600 Capital Goods Industry Group TSR ($) 2022 3,401,462 3,844,215 848,828 733,570 155.24 138.76 100,376 888,788 2021 2,912,108 5,480,646 1,064,856 1,400,334 162.64 145.03 58,758 534,517 2020 2,387,673 6,460,946 1,285,424 3,065,868 135.70 115.68 79,009 514,551 | ||
Named Executive Officers, Footnote [Text Block] | Year PEO Non-PEO NEOs 2022 Gary D. Fields Casey R. Kidwell, Larry G. Stewart, Rebecca A. Thompson, Stephen E. Wakefield, Gordon D. Wichman 2021 Gary D. Fields Norman H. Asbjornson, Scott M. Asbjornson, Larry G. Stewart, Rebecca A. Thompson, Stephen E. Wakefield 2020 Gary D. Fields Norman H. Asbjornson, Scott M. Asbjornson, Rebecca A. Thompson, Stephen E. Wakefield | ||
PEO Total Compensation Amount | $ 3,401,462 | $ 2,912,108 | $ 2,387,673 |
PEO Actually Paid Compensation Amount | $ 3,844,215 | 5,480,646 | 6,460,946 |
Adjustment To PEO Compensation, Footnote [Text Block] | The table below provides the adjustments made to the Summary Compensation Table total compensation to arrive at the compensation actually paid for the PEO and the average for the Non-PEO NEOs: 2020 2021 2022 PEO Average for Non-PEO NEOs PEO Average for Non-PEO NEOs PEO Average for Non-PEO NEOs Less: Fair value of equity awards reported in Summary Compensation Table for applicable year (1,310,542) (666,094) (1,437,328) (464,911) (1,528,171) (271,436) Add: Fair value of equity awards granted in applicable year at year end 2,678,303 1,680,209 1,633,142 478,526 2,760,769 491,969 Change in fair value of unvested equity awards from prior years 2,088,973 601,986 1,944,716 420,880 (500,273) (139,312) Change in fair value of vested equity awards from prior years 614,783 163,694 424,930 11,506 (294,512) (79,925) Less: Fair value of equity awards forfeited during the covered year — — — (111,693) — (117,768) Add: Dividends paid 1,756 649 3,078 1,170 4,940 1,214 Total Adjustments 4,073,273 1,780,444 2,568,538 335,478 442,753 (115,258) | ||
Non-PEO NEO Average Total Compensation Amount | $ 848,828 | 1,064,856 | 1,285,424 |
Non-PEO NEO Average Compensation Actually Paid Amount | $ 733,570 | 1,400,334 | 3,065,868 |
Adjustment to Non-PEO NEO Compensation Footnote [Text Block] | The table below provides the adjustments made to the Summary Compensation Table total compensation to arrive at the compensation actually paid for the PEO and the average for the Non-PEO NEOs: 2020 2021 2022 PEO Average for Non-PEO NEOs PEO Average for Non-PEO NEOs PEO Average for Non-PEO NEOs Less: Fair value of equity awards reported in Summary Compensation Table for applicable year (1,310,542) (666,094) (1,437,328) (464,911) (1,528,171) (271,436) Add: Fair value of equity awards granted in applicable year at year end 2,678,303 1,680,209 1,633,142 478,526 2,760,769 491,969 Change in fair value of unvested equity awards from prior years 2,088,973 601,986 1,944,716 420,880 (500,273) (139,312) Change in fair value of vested equity awards from prior years 614,783 163,694 424,930 11,506 (294,512) (79,925) Less: Fair value of equity awards forfeited during the covered year — — — (111,693) — (117,768) Add: Dividends paid 1,756 649 3,078 1,170 4,940 1,214 Total Adjustments 4,073,273 1,780,444 2,568,538 335,478 442,753 (115,258) | ||
Compensation Actually Paid vs. Total Shareholder Return [Text Block] | |||
Compensation Actually Paid vs. Net Income [Text Block] | |||
Compensation Actually Paid vs. Company Selected Measure [Text Block] | |||
Tabular List [Table Text Block] | For the year ending December 31, 2022, the most important financial performance measures used to link compensation actually paid to our NEOs to Company performance were net sales, operating profit and our total shareholder return ("TSR"). Our NEO's target total compensation is tied to performance goals aligned with our stockholders' interest. The majority of target compensation was weighted toward long-term equity performance and time-based awards and the financial performance metric was TSR. The short-term incentive program's funding metrics are net sales and operating profit. | ||
Total Shareholder Return Amount | $ 155.24 | 162.64 | 135.70 |
Peer Group Total Shareholder Return Amount | 138.76 | 145.03 | 115.68 |
Net Income (Loss) | $ 100,376,000 | $ 58,758,000 | $ 79,009,000 |
Company Selected Measure Amount | 888,788,000 | 534,517,000 | 514,551,000 |
PEO Name | Gary D. Fields | Gary D. Fields | Gary D. Fields |
Additional 402(v) Disclosure [Text Block] | All fair value calculations were performed in accordance with the provisions of FASB ASC Topic 718 and consistent with the methods utilized to calculate grant date fair values as disclosed in Note 14 - Share-Based Compensation to our consolidated financial statements in our Annual Report on Form 10-K for the year ended December 31, 2022. Non-qualified stock option fair values are calculated based on the Black-Scholes option pricing model. Adjustments have been made using our stock price as of each measurement date and updated assumptions for expected term, volatility, dividend yield and interest rates. Restricted stock award adjustments have been made using our stock price as of each measurement date and updated assumptions for interest rates and dividend yield and accrued dividends for vesting restricted stock awards. For PSUs, adjustments at each measurement date have been made based on the expected level of achievement with respect to the Company's TSR benchmarked against the S&P 600 Capital Goods Industry Group. | ||
Measure [Axis]: 1 | |||
Pay vs Performance Disclosure [Table] | |||
Compensation Actually Paid vs. Other Measure [Text Block] | |||
PEO [Member] | Measure [Axis]: 1 | |||
Pay vs Performance Disclosure [Table] | |||
Measure Name | net sales | ||
PEO [Member] | Measure [Axis]: 2 | |||
Pay vs Performance Disclosure [Table] | |||
Measure Name | operating profit | ||
PEO [Member] | Measure [Axis]: 3 | |||
Pay vs Performance Disclosure [Table] | |||
Measure Name | total shareholder return ("TSR") | ||
PEO [Member] | Equity Awards Reported In Summary Compensation Table For Applicable Year [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount, Equity Awards | $ (1,528,171) | $ (1,437,328) | $ (1,310,542) |
PEO [Member] | Equity Awards Granted During the Year, Unvested [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount, Equity Awards | 2,760,769 | 1,633,142 | 2,678,303 |
PEO [Member] | Equity Awards Granted in Prior Years, Unvested [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount, Equity Awards | (500,273) | 1,944,716 | 2,088,973 |
PEO [Member] | Equity Awards Granted in Prior Years, Vested [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount, Equity Awards | (294,512) | 424,930 | 614,783 |
PEO [Member] | Equity Awards Forfeited During the Year [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount, Equity Awards | 0 | 0 | 0 |
PEO [Member] | Equity Awards, Dividends Paid [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount, Equity Awards | 4,940 | 3,078 | 1,756 |
PEO [Member] | Equity Award Adjustments [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | $ 442,753 | 2,568,538 | 4,073,273 |
Non-PEO NEO [Member] | Measure [Axis]: 1 | |||
Pay vs Performance Disclosure [Table] | |||
Measure Name | long-term equity performance | ||
Non-PEO NEO [Member] | Measure [Axis]: 2 | |||
Pay vs Performance Disclosure [Table] | |||
Measure Name | time-based awards | ||
Non-PEO NEO [Member] | Measure [Axis]: 3 | |||
Pay vs Performance Disclosure [Table] | |||
Measure Name | TSR | ||
Non-PEO NEO [Member] | Measure [Axis]: 4 | |||
Pay vs Performance Disclosure [Table] | |||
Measure Name | net sales and operating profit | ||
Non-PEO NEO [Member] | Equity Awards Reported In Summary Compensation Table For Applicable Year [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount, Equity Awards | $ (271,436) | (464,911) | (666,094) |
Non-PEO NEO [Member] | Equity Awards Granted During the Year, Unvested [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount, Equity Awards | 491,969 | 478,526 | 1,680,209 |
Non-PEO NEO [Member] | Equity Awards Granted in Prior Years, Unvested [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount, Equity Awards | (139,312) | 420,880 | 601,986 |
Non-PEO NEO [Member] | Equity Awards Granted in Prior Years, Vested [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount, Equity Awards | (79,925) | 11,506 | 163,694 |
Non-PEO NEO [Member] | Equity Awards Forfeited During the Year [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount, Equity Awards | (117,768) | (111,693) | 0 |
Non-PEO NEO [Member] | Equity Awards, Dividends Paid [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount, Equity Awards | 1,214 | 1,170 | 649 |
Non-PEO NEO [Member] | Equity Award Adjustments [Member] | |||
Pay vs Performance Disclosure [Table] | |||
Adjustment to Compensation Amount | $ (115,258) | $ 335,478 | $ 1,780,444 |