AAON (AAON) 10-Q 1 Aug 24 2024 Q2 Quarterly report Financial data

Cover Page

Cover Page - shares	6 Months Ended
	Jun. 30, 2024	Jul. 30, 2024
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2024
Document Transition Report	false
Entity File Number	0-18953
Entity Registrant Name	AAON, INC.
Entity Central Index Key	0000824142
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q2
Amendment Flag	false
Entity Incorporation, State or Country Code	NV
Entity Tax Identification Number	87-0448736
Entity Address, Address Line One	2425 South Yukon Ave.,
Entity Address, City or Town	Tulsa,
Entity Address, State or Province	OK
Entity Address, Postal Zip Code	74107
City Area Code	918
Local Phone Number	583-2266
Title of 12(b) Security	Common Stock, $.004 par value per share
Trading Symbol	AAON
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		81,013,148

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands		Jun. 30, 2024	Dec. 31, 2023
Current assets:
Cash and cash equivalents		$ 13	$ 287
Restricted cash		12,065	8,736
Accounts receivable, net		149,149	138,108
Income tax receivable		4,969	0
Inventories, net		182,988	213,532
Contract assets		68,171	45,194
Prepaid expenses and other		5,740	3,097
Total current assets		423,095	408,954
Property, plant and equipment:
Land		16,018	15,438
Buildings		240,317	205,841
Machinery and equipment		403,664	391,366
Furniture and fixtures		41,128	40,787
Total property, plant and equipment		701,127	653,432
Less: Accumulated depreciation		287,893	283,485
Property, plant and equipment, net		413,234	369,947
Intangible assets, net		75,560	68,053
Goodwill		81,892	81,892
Right of use assets		16,086	11,774
Note receivable		849	816
Total assets		1,010,716	941,436
Current liabilities:
Accounts payable		28,958	27,484
Accrued liabilities		85,499	85,508
Contract liabilities		26,862	13,757
Total current liabilities		141,319	126,749
Revolving credit facility, long-term		85,884	38,328
Deferred tax liabilities		5,811	12,134
Other long-term liabilities		21,170	16,807
New markets tax credit obligations1	[1]	16,034	12,194
Commitments and contingencies
Stockholders' equity:
Preferred stock, $.001 par value, 5,000,000 shares authorized, no shares issued		0	0
Common stock, $.004 par value, 100,000,000 shares authorized2, 80,950,856 and 81,508,381 issued and outstanding at June 30, 2024 and December 31, 2023, respectively		324	326
Additional paid-in capital		49,174	122,063
Retained earnings		691,000	612,835
Total stockholders' equity		740,498	735,224
Total liabilities and stockholders' equity		$ 1,010,716	$ 941,436
[1] 1 Held by variable interest entities (Note 16)

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) $ in Thousands	Jun. 30, 2024 USD ($) $ / shares shares	Dec. 31, 2023 USD ($) $ / shares shares
Stockholders' equity:
Allowance for doubtful accounts | $	$ 1,492	$ 323
Preferred stock, par value (in dollars per share) | $ / shares	$ 0.001	$ 0.001
Preferred stock, shares authorized (in shares)	5,000,000	5,000,000
Preferred stock, shares issued (in shares)	0	0
Common stock, par value (in dollars per share) | $ / shares	$ 0.004	$ 0.004
Common stock, shares authorized (in shares)	100,000,000	100,000,000
Common stock, shares issued (in shares)	80,950,856	81,508,381
Common stock, shares outstanding (in shares)	80,950,856	81,508,381

Consolidated Statements of Inco

Consolidated Statements of Income $ in Thousands		3 Months Ended		6 Months Ended
		Jun. 30, 2024 USD ($) $ / shares shares	Jun. 30, 2023 USD ($) $ / shares shares	Jun. 30, 2024 USD ($) $ / shares shares		Jun. 30, 2023 USD ($) $ / shares shares
Income Statement [Abstract]
Net sales		$ 313,566	$ 283,957	$ 575,665		$ 549,910
Cost of sales		200,472	189,939	370,329		378,738
Gross profit		113,094	94,018	205,336		171,172
Selling, general and administrative expenses		45,895	39,272	91,183		72,214
(Gain) loss on disposal of assets		0	6	(16)		12
Income from operations		67,199	54,740	114,169		98,946
Interest expense, net		(367)	(1,543)	(606)		(2,693)
Other income, net		175	163	252		277
Income before taxes		67,007	53,360	113,815		96,530
Income tax provision		14,779	7,678	22,571		14,034
Net income		$ 52,228	$ 45,682	$ 91,244	[1]	$ 82,496
Earnings per share:
Basic (in dollars per share) | $ / shares	[2]	$ 0.64	$ 0.56	$ 1.12		$ 1.02
Diluted (in dollars per share) | $ / shares	[2]	0.62	0.55	1.09		0.99
Cash dividends declared per common share (in dollars per share) | $ / shares	[2]	$ 0.08	$ 0.08	$ 0.16		$ 0.16
Weighted average shares outstanding:
Basic (in shares) | shares	[2]	81,791,792	81,439,691	81,339,153		81,263,523
Diluted (in shares) | shares	[2]	83,786,222	83,469,581	83,527,717		83,478,498
[1] 1 Reflects three-for-two stock split effective August 16, 2023 1 Reflects three-for-two stock split effective August 16, 2023.

Consolidated Statements of Stoc

Consolidated Statements of Stockholders' Equity - USD ($) shares in Thousands, $ in Thousands		Total		Common Stock		Paid-in Capital	Retained Earnings
Balance (in shares) at Dec. 31, 2022				80,138
Balance at Dec. 31, 2022		$ 560,714		$ 322		$ 98,735	$ 461,657
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income		82,496
Stock options exercised, restricted stock awards granted, and contingent shares issued (Note 16) (in shares)				1,451
Stock options exercised, restricted stock awards granted, and contingent shares issued (Note 16)		23,244		$ 4		23,240
Contingent shares issued (Note 15)		0
Share-based compensation		7,823				7,823
Stock repurchased and retired (in shares)				(20)
Stock repurchased and retired		(1,162)				(1,162)
Dividends		(13,004)					(13,004)
Balance (in shares) at Jun. 30, 2023	[1]			81,569
Balance at Jun. 30, 2023		660,111		$ 326	[1]	128,636	531,149	[1]
Balance (in shares) at Mar. 31, 2023	[1]			81,303
Balance at Mar. 31, 2023		609,414		$ 325	[1]	117,077	492,012	[1]
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income		45,682					45,682	[1]
Stock options exercised, restricted stock awards granted, and contingent shares issued (Note 16) (in shares)	[1]			268
Stock options exercised, restricted stock awards granted, and contingent shares issued (Note 16)		7,388		$ 1		7,387
Contingent shares issued (Note 15)		0
Share-based compensation		4,304				4,304
Stock repurchased and retired (in shares)	[1]			(2)
Stock repurchased and retired		(132)				(132)
Dividends		(6,545)					(6,545)	[1]
Balance (in shares) at Jun. 30, 2023	[1]			81,569
Balance at Jun. 30, 2023		660,111		$ 326	[1]	128,636	531,149	[1]
Balance (in shares) at Dec. 31, 2023	[1]			81,508
Balance at Dec. 31, 2023		735,224		$ 326	[1]	122,063	612,835	[1]
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income		91,244	[1]				91,244
Stock options exercised, restricted stock awards granted, and contingent shares issued (Note 16) (in shares)	[1]			595
Stock options exercised, restricted stock awards granted, and contingent shares issued (Note 16)		15,821		$ 3	[1]	15,818
Contingent shares issued (in shares)				243
Contingent shares issued (Note 15)		6,364		$ 1
Share-based compensation		8,451				8,451
Stock repurchased and retired (in shares)	[1]			(1,395)
Stock repurchased and retired		(103,527)		$ (6)	[1]	(103,521)
Dividends		(13,079)					(13,079)	[1]
Balance (in shares) at Jun. 30, 2024	[1]			80,951
Balance at Jun. 30, 2024		740,498		$ 324	[1]	49,174	691,000	[1]
Balance (in shares) at Mar. 31, 2024	[1]			82,118
Balance at Mar. 31, 2024		784,808		$ 329	[1]	139,184	645,295	[1]
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income		52,228					52,228	[1]
Stock options exercised, restricted stock awards granted, and contingent shares issued (Note 16) (in shares)	[1]			192
Stock options exercised, restricted stock awards granted, and contingent shares issued (Note 16)		5,977		$ 1	[1]	5,976
Contingent shares issued (Note 15)		0				6,363
Share-based compensation		4,494				4,494
Stock repurchased and retired (in shares)	[1]			(1,359)
Stock repurchased and retired		(100,486)		$ (6)		(100,480)
Dividends		(6,523)					(6,523)	[1]
Balance (in shares) at Jun. 30, 2024	[1]			80,951
Balance at Jun. 30, 2024		$ 740,498		$ 324	[1]	$ 49,174	$ 691,000	[1]
[1] 1 Reflects three-for-two stock split effective August 16, 2023

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2024		Jun. 30, 2023
Operating Activities
Net income	$ 91,244	[1]	$ 82,496
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	27,923		21,236
Amortization of debt issuance costs	71		32
Amortization of right of use assets	73		67
Provision for (recoveries of) credit losses on accounts receivable, net of adjustments	1,169		(171)
Provision for excess and obsolete inventories, net of write-offs	641		1,458
Share-based compensation	8,451		7,823
(Gain) loss on disposal of assets	(16)		12
Foreign currency transaction loss (gain)	15		(13)
Interest income on note receivable	(9)		(10)
Deferred	41		(4,438)
Changes in assets and liabilities:
Accounts receivable	(12,210)		(26,782)
Income taxes	(6,139)		(15,171)
Inventories	29,903		(17,927)
Contract assets	(22,977)		(4,711)
Prepaid expenses and other long-term assets	(2,708)		(2,502)
Accounts payable	(1,804)		(14,874)
Contract liabilities	13,105		(1,162)
Extended warranties	1,195		1,526
Accrued liabilities and other long-term liabilities	(56)		33,051
Net cash provided by operating activities	127,912		59,940
Investing Activities
Capital expenditures	(65,381)		(60,629)
Proceeds from sale of property, plant and equipment	16		104
Software development expenditures	(10,058)		0
Principal payments from note receivable	26		28
Net cash used in investing activities	(75,397)		(60,497)
Financing Activities
Proceeds from financing obligation, net of issuance costs	4,186		6,061
Payment related to financing costs	(417)		(398)
Borrowings under revolving credit facility	272,526		279,961
Payments under revolving credit facility	(224,970)		(272,429)
Stock options exercised	15,821		23,244
Repurchase of stock	100,034		0
Employee taxes paid by withholding shares	(3,493)		(1,162)
Cash dividends paid to stockholders	13,079		13,004
Net cash (used in) provided by financing activities	(49,460)		22,273
Net increase in cash, cash equivalents and restricted cash	3,055		21,716
Cash, cash equivalents and restricted cash, beginning of period	9,023		5,949
Cash, cash equivalents and restricted cash, end of period	$ 12,078		$ 27,665
[1] 1 Reflects three-for-two stock split effective August 16, 2023

General

General	6 Months Ended
	Jun. 30, 2024
Basis of Presentation and Significant Accounting Policies [Abstract]
General	General Basis of Presentation AAON, Inc. is a Nevada corporation which was incorporated on August 18, 1987. Our operating subsidiaries include AAON, Inc. ("AAON Oklahoma"), an Oklahoma corporation, AAON Coil Products, Inc. ("AAON Coil Products"), a Texas corporation, and BASX, Inc. ("BASX"), an Oregon corporation (collectively, the “Company”). The accompanying unaudited consolidated financial statements of AAON, Inc. and our operating subsidiaries, all of which are wholly-owned, have been prepared in accordance with U.S. generally accepted accounting principles (“U.S. GAAP”) for interim financial information and with the rules and regulations of the Securities and Exchange Commission (“SEC”). Our financial statements consolidate all of our affiliated entities in which we have a controlling financial interest. Because we hold certain rights that give us the power to direct the activities of eight variable interest entities ("VIEs") (Note 16) that most significantly impact the VIEs economic performance, combined with a variable interest that gives us the right to receive potentially significant benefits or the obligation to absorb potentially significant losses, we have a controlling financial interest in those VIEs. These financial statements have not been audited by the Company's independent registered public accounting firm, except that the consolidated balance sheet at December 31, 2023 is derived from audited consolidated financial statements. Accordingly, they do not include all of the information and notes required by U.S. GAAP for complete financial statements. The financial statements reflect all adjustments (all of which are of a normal recurring nature) which are, in the opinion of management, necessary for a fair statement of the results for the interim periods presented. Interim results are not necessarily indicative of the results that may be expected for a full year. Certain disclosures have been condensed in or omitted from these consolidated financial statements. The accompanying unaudited financial statements should be read in conjunction with the consolidated financial statements and notes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2023. All intercompany balances and transactions have been eliminated in consolidation. We are engaged in the engineering, manufacturing, marketing, and sale of premium air conditioning and heating equipment consisting of standard, semi-custom, and custom rooftop units, data centers cooling solutions, cleanroom systems, packaged outdoor mechanical rooms, air handling units, makeup air units, energy recovery units, condensing units, geothermal/water-source heat pumps, coils, and controls. Use of Estimates The preparation of consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Because these estimates and assumptions require significant judgment, actual results could differ from those estimates and could have a significant impact on our results of operations, financial position, and cash flows. We reevaluate our estimates and assumptions as needed, but at a minimum on a quarterly basis. The most significant estimates include, but are not limited to, inventory valuation, inventory reserves, warranty accrual, workers' compensation accrual, medical insurance accrual, income taxes, useful lives of property, plant, and equipment, estimated future use of leased property, share-based compensation, revenue percentage of completion and estimated costs to complete. Actual results could differ materially from those estimates. Inflation and Labor Market In 2023, we saw the slowing of inflation and some stabilization of raw material and component prices. Due to our favorable liquidity position, we continue to make strategic purchases of materials when we see opportunities. We continue to monitor and manage increases in the cost of raw materials through price increases for our products. We have also experienced supply chain challenges related to specific manufacturing parts, which we have managed through our strong vendor relationships as well as expanding our list of vendors. Additionally, we continue to experience challenges in a tight labor market, especially the hiring of both skilled and unskilled production labor. We have implemented the following wage increases to remain competitive and to attract and retain employees: • In March 2023, we awarded annual merit raises for an overall 3.9% increase to wages. • In March 2024, we awarded annual merit raises for an overall 3.3% increase to wages. We continue to implement human resource initiatives to retain and attract labor to further increase production capacity. Beginning in 2023, initiatives included changing our employee paid time off policy, historically awarded in arrears at the beginning of each quarter, to accrue ratably over each pay period. Additionally, we enhanced our benefits for short-term disability, life insurance, paid parental leave, and paid military leave. Despite efforts to mitigate the impact of inflation, supply chain issues and the tight labor market, future disruptions, while temporary, could negatively impact our consolidated financial position, results of operations and cash flows. Accounting Policies A comprehensive discussion of our critical accounting policies and management estimates is included in Management’s Discussion and Analysis of Financial Condition and Results of Operations in our Annual Report on Form 10-K for the year ended December 31, 2023. Fair Value Measurements The carrying amounts of cash and cash equivalents, receivables, accounts payable, and accrued liabilities approximate fair value because of the short-term maturity of the items. The carrying amount of the Company’s revolving line of credit, and other payables, approximate their fair values either due to their short term nature, the variable rates associated with the debt or based on current rates offered to the Company for debt with similar characteristics. Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability (an exit price) in an orderly transaction between market participants at the measurement date. Fair value is based upon assumptions that market participants would use when pricing an asset or liability. We use the following fair value hierarchy, which prioritizes valuation technique inputs used to measure fair value into three broad levels: • Level 1: Quoted prices in active markets for identical assets and liabilities that we have the ability to access at the measurement date. • Level 2: Inputs (other than quoted prices included within Level 1) that are either directly or indirectly observable for the asset or liability, including (i) quoted prices for similar assets or liabilities in active markets, (ii) quoted prices for identical or similar assets or liabilities in inactive markets, (iii) inputs other than quoted prices that are observable for the asset or liability, and (iv) inputs that are derived from observable market data by correlation or other means. • Level 3: Unobservable inputs for the asset or liability including situations where there is little, if any, market activity for the asset or liability. Items categorized in Level 3 include the estimated fair values of intangible assets, contingent consideration, and goodwill acquired in a business combination. The fair value hierarchy gives the highest priority to quoted prices in active markets (Level 1) and the lowest priority to unobservable inputs (Level 3). In some cases, the inputs used to measure fair value might fall into different levels of the fair value hierarchy. The lowest level input that is significant to a fair value measurement determines the applicable level in the fair value hierarchy. Assessing the significance of a particular input to a fair value measurement requires judgment, considering factors specific to the asset or liability. Definite-Lived Intangible Assets Our definite-lived intangible assets include various trademarks, service marks, and technical knowledge acquired in business combinations or asset acquisitions. We amortize our definite-lived intangible assets on a straight-line basis over the estimated useful lives of the assets. We evaluate the carrying value of our amortizable intangible assets for potential impairment when events and circumstances warrant such a review. Amortization is computed using the straight-line method over the following estimated useful lives: Intellectual property 6 - 30 years Customer relationships 14 years Software Development Costs We capitalize costs incurred to purchase or develop software for internal use. Internal-use software development costs are capitalized during the application development stage. These capitalized costs are reflected in intangible assets, net on the consolidated balance sheets and are amortized over the estimated useful life of the software. The useful life of our internal-use software development costs is generally one Goodwill and Indefinite-Lived Intangible Assets Goodwill represents the excess of the consideration paid for the acquired businesses over the fair value of the individual assets acquired, net of liabilities assumed. Goodwill and indefinite-lived intangible assets are not amortized, but instead are evaluated for impairment at least annually. We perform our annual assessment of impairment during the fourth quarter of our fiscal year, and more frequently if circumstances warrant. The changes in the carrying amount of goodwill were as follows: Six Months Ended June 30, 2024 2023 (in thousands) Balance, beginning of period $ 81,892 $ 81,892 Additions (decreases) during the period — — Balance, end of period $ 81,892 $ 81,892 Recent Accounting Pronouncements Changes to U.S. GAAP are established by the Financial Accounting Standards Board ("FASB") in the form of Accounting Standards Updates ("ASUs") to the FASB's Accounting Standards Codification ("ASC"). We consider the applicability and impact of all ASUs. ASUs not listed or included within the Company's Annual Report on Form 10-K for the year ended December 31, 2023, were assessed and determined to be either not applicable or are expected to have minimal impact on our consolidated financial statements and notes thereto.

Revenue Recognition

Revenue Recognition	6 Months Ended
	Jun. 30, 2024
Revenue from Contract with Customer [Abstract]
Revenue Recognition	Revenue Recognition The following tables show disaggregated net sales by reportable segment (Note 19) by major source, net of intercompany sales eliminations. Three Months Ended June 30, 2024 AAON Oklahoma AAON Coil Products BASX Total (in thousands) Rooftop units $ 203,642 $ — $ — $ 203,642 Condensing units — 15,433 — 15,433 Air handlers — 12,496 2,371 14,867 Cleanroom systems — — 11,227 11,227 Data center cooling solutions — 926 41,907 42,833 Water-source heat pumps — 1,574 — 1,574 Part sales 17,974 — 906 18,880 Other 1 4,111 944 55 5,110 $ 225,727 $ 31,373 $ 56,466 $ 313,566 Three Months Ended June 30, 2023 AAON Oklahoma AAON Coil Products BASX Total (in thousands) Rooftop units $ 196,065 $ — $ — $ 196,065 Condensing units 61 11,329 — 11,390 Air handlers — 12,610 2,600 15,210 Outdoor mechanical rooms — 61 — 61 Cleanroom systems — — 17,086 17,086 Data center cooling solutions — 1,794 15,877 17,671 Water-source heat pumps 398 3,086 — 3,484 Part sales 15,963 — 243 16,206 Other 1 5,727 1,201 (144) 6,784 $ 218,214 $ 30,081 $ 35,662 $ 283,957 1 Other sales include freight, extended warranties and miscellaneous revenue. Six Months Ended June 30, 2024 AAON Oklahoma AAON Coil Products BASX Total (in thousands) Rooftop units $ 394,907 $ — $ — $ 394,907 Condensing units — 27,266 — 27,266 Air handlers — 22,474 4,558 27,032 Cleanroom systems — — 18,540 18,540 Data center cooling solutions — 1,132 59,580 60,712 Water-source heat pumps — 3,155 — 3,155 Part sales 33,291 6 1,184 34,481 Other 1 7,669 1,587 316 9,572 $ 435,867 $ 55,620 $ 84,178 $ 575,665 Six Months Ended June 30, 2023 AAON Oklahoma AAON Coil Products BASX Total (in thousands) Rooftop units $ 376,091 $ — $ — $ 376,091 Condensing units 61 26,607 — 26,668 Air handlers — 24,831 5,638 30,469 Outdoor mechanical rooms 208 212 — 420 Cleanroom systems — — 29,708 29,708 Data center cooling solutions — 3,240 30,353 33,593 Water-source heat pumps 3,128 6,166 — 9,294 Part sales 29,867 1 491 30,359 Other 1 10,861 2,436 11 13,308 $ 420,216 $ 63,493 $ 66,201 $ 549,910 1 Other sales include freight, extended warranties and miscellaneous revenue. Due to the highly customized nature of many of the Company’s products and each product not having an alternative use to the Company without significant costs to the Company, the Company recognizes revenue over time as progress is made toward satisfying the performance obligations of each contract. The Company has formal cancellation policies and generally does not accept returns on these units. As a result, many of the Company’s products do not have an alternative use and therefore, for these products we recognize revenue over the time it takes to produce the unit. Contract costs include direct materials, direct labor, installation, freight and delivery, commissions and royalties. Other costs not related to contract performance, such as indirect labor and materials, small tools and supplies, operating expenses, field rework and back charges are charged to expense as incurred. Provisions for estimated losses on contracts in progress are made in the period in which such losses are determined. Changes in job performance, job conditions, and estimated profitability, including those arising from contract penalty provisions and final contract settlements, may result in revisions to costs and income, and are estimated and recognized by the Company throughout the life of the contract. The aggregate of costs incurred and income recognized on uncompleted contracts in excess of billings is shown as a contract asset within our consolidated balance sheets, and the aggregate of billings on uncompleted contracts in excess of related costs incurred and income recognized is shown as a contract liability within our consolidated balance sheets. For all other products that are part sales or standardized units, the Company recognizes revenue, presented net of sales tax, when it satisfies the performance obligation in its contracts. As the primary performance obligation in such a contract is delivery of the requested manufactured equipment, we satisfy the performance obligation when the control is passed to the customer, generally at time of shipment. Final sales prices are fixed based on purchase orders. Sales allowances and customer incentives are treated as reductions to sales and are provided for based on historical experiences and current estimates. Historically, sales of our products were moderately seasonal with the peak period being May-October of each year due to timing of construction projects being directly related to warmer weather. However, in recent years, given the increases in demand of our product, changes in product mix and increases in our backlog, sales have become more constant throughout the year. Product Warranties A provision is made for the estimated cost of maintaining product warranties to customers at the time the product is sold based upon historical claims experience by product line. The Company records a liability and an expense for estimated future warranty claims based upon historical experience and management’s estimate of the level of future claims. Changes in the estimated amounts recognized in prior years are recorded as an adjustment to the liability and expense in the current year. The Company also sells extended warranties on parts for various lengths of time ranging from six months to 10 years. Revenue for these separately priced warranties is deferred and recognized on a straight-line basis over the separately priced warranty period. Representatives and Third Party Products We are responsible for billings and collections resulting from all sales transactions, including those initiated by our independent manufacturer representatives (“Representatives”). Representatives are national companies that are in the business of providing HVAC units and other related products and services to customers. The end user customer orders a bundled group of products and services from the Representative and expects the Representative to fulfill the order. These additional products and services may include controls purchased from another manufacturer to operate the unit, start-up services, and curbs for supporting the unit (“Third Party Products”). All are associated with the purchase of a HVAC unit but may be provided by the Representative or another third party. Only after the specifications are agreed to by the Representative and the customer, and the decision is made to use an AAON HVAC unit, will we receive notice of the order. We establish the amount we must receive for our HVAC unit (“minimum sales price”), but do not control the total order price that is negotiated by the Representative with the end user customer. The Representatives submit the total order price to us for invoicing and collection. The total order price includes our minimum sales price and an additional amount which may include both the Representatives’ fee and amounts due for additional products and services required by the customer. The Company is considered the principal for the equipment we design and manufacture and records that revenue. The Company has no control over the Third Party Products to the end customer and the Company is under no obligation related to the Third Party Products. Amounts related to Third Party Products are not recognized as revenue but are recorded as a liability and are included in accrued liabilities on the consolidated balance sheets. The Representatives’ fee and Third Party Products amounts (“Due to Representatives”) are paid only after all amounts associated with the order are collected from the customer. The amount of payments to our Representatives were $10.2 million and $13.0 million for the three months ended June 30, 2024 and 2023, respectively, and $21.0 million and $26.3 million for the six months ended June 30, 2024 and 2023, respectively.

Leases

Leases	6 Months Ended
	Jun. 30, 2024
Leases [Abstract]
Leases	Leases The Company has various lease arrangements for certain manufacturing and warehousing facilities, equipment rental, as well as administrative facilities. Lease expiration dates, including expected renewal options, range from April 2025 to November 2033. The discount rates used to calculate the present value of lease payment range from 1.3% to 6.6% as of June 30, 2024. Currently, all leases are classified as operating leases. The following table presents the balances by lease type: Balance Sheet Classification June 30, 2024 December 31, 2023 Operating Leases Right of use assets Right of use assets $ 16,086 $ 11,774 Lease liability, short-term Accrued liabilities $ 2,272 $ 2,021 Lease liability, long-term Other long-term liabilities $ 14,335 $ 10,201 Since 2018, the Company has leased the manufacturing, engineering, and office space used by our operations in Parkville, Missouri. The lease provides approximately 86,000 square feet of manufacturing and office space. The lease expires December 31, 2032. In November 2022, the Company entered into a lease agreement for land and facilities in Tulsa, Oklahoma which provides an additional 198,000 square feet to support our operations. In January 2024, we amended the lease for an additional 157,550 square feet for operations and parts distribution. The amended lease term will expire November 30, 2029. In July 2023, the Company entered into a lease agreement with a start date of September 1, 2023, for land and approximately 72,000 square feet of facilities in Redmond, Oregon to support our manufacturing operations. The lease term is approximately five years with additional renewal options. We also lease several properties near our Redmond, Oregon location. In the aggregate, these leases contain approximately 104,500 square feet of additional warehouse space. These leases have expiring terms from February 2025 to November 2033. Total undiscounted future lease payments are as follows: (in thousands) 2024 $ 1,612 2025 3,100 2026 3,046 2027 3,136 2028 3,130 Thereafter 6,403

Accounts Receivable

Accounts Receivable	6 Months Ended
	Jun. 30, 2024
Receivables [Abstract]
Accounts Receivable	Accounts Receivable Accounts receivable and the related allowance for credit losses are as follows: June 30, December 31, 2023 (in thousands) Accounts receivable $ 150,641 $ 138,431 Less: Allowance for credit losses (1,492) (323) Total, net $ 149,149 $ 138,108 Three Months Ended Six Months Ended June 30, June 30, June 30, June 30, Allowance for credit losses: (in thousands) Balance, beginning of period $ 435 $ 421 $ 323 $ 477 Provisions for (recoveries of) expected credit 1,062 (115) 1,174 (171) losses, net of adjustments Accounts receivable written off, net of recoveries (5) — (5) — Balance, end of period $ 1,492 $ 306 $ 1,492 $ 306

Inventories

Inventories	6 Months Ended
	Jun. 30, 2024
Inventory Disclosure [Abstract]
Inventories	Inventories Inventories are valued at the lower of cost or net realizable value. Cost is determined by the first-in, first-out (“FIFO”) method. We establish an allowance for excess and obsolete inventories based on product line changes, the feasibility of substituting parts and the need for supply and replacement parts. The components of inventories and related changes in the allowance for excess and obsolete inventories account are as follows: June 30, December 31, 2023 (in thousands) Raw materials $ 181,403 $ 211,259 Work in process 5,190 5,523 Finished goods 3,196 2,910 Total, gross 189,789 219,692 Less: Allowance for excess and obsolete inventories (6,801) (6,160) Total, net $ 182,988 $ 213,532 Three Months Ended Six Months Ended June 30, June 30, June 30, June 30, Allowance for excess and obsolete inventories: (in thousands) Balance, beginning of period $ 6,741 $ 4,748 $ 6,160 $ 4,527 Provision for (recoveries of) excess and 968 794 1,928 1,458 obsolete inventories Inventories written off (908) (261) (1,287) (704) Balance, end of period $ 6,801 $ 5,281 $ 6,801 $ 5,281

Intangible Assets

Intangible Assets	6 Months Ended
	Jun. 30, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Intangible Assets	Intangible assets Our intangible assets consist of the following: June 30, December 31, 2023 Definite-lived intangible assets (in thousands) Intellectual property $ 12,450 $ 12,450 Customer relationships 47,547 47,547 Capitalized internal-use software 14,285 3,323 Less: Accumulated amortization (13,293) (9,838) Total, net 60,989 53,482 Indefinite-lived intangible assets Trademarks 14,571 14,571 Total intangible assets, net $ 75,560 $ 68,053 Amortization expense recorded in selling, general and administrative expenses is as follows: Three Months Ended Six Months Ended June 30, June 30, June 30, June 30, (in thousands) Amortization expense $ 1,749 $ 901 $ 3,455 $ 1,803 Total future amortization expense for finite-lived intangible assets was estimated as follows: (in thousands) 2024 $ 4,861 2025 6,259 2026 4,743 2027 4,743 2028 4,652 Thereafter 29,117 Total future amortization expense 54,375 Internal-use software projects not in service 6,614 Total $ 60,989

Supplemental Cash Flow Informat

Supplemental Cash Flow Information	6 Months Ended
	Jun. 30, 2024
Supplemental Cash Flow Elements [Abstract]
Supplemental Cash Flow Information	Supplemental Cash Flow Information Three Months Ended Six Months Ended June 30, June 30, June 30, June 30, Supplemental disclosures: (in thousands) Interest paid $ 153 $ 1,506 $ 548 $ 2,627 Income taxes paid $ 28,359 $ 33,471 $ 28,670 $ 33,643 Non-cash investing and financing activities: Non-cash capital expenditures $ 5,356 $ 1,205 $ 3,278 $ 1,571 Contingent shares issued (Note 15) $ — $ — $ 6,364 $ —

Warranties

Warranties	6 Months Ended
	Jun. 30, 2024
Guarantees [Abstract]
Warranties	Warranties The Company has product warranties with various terms from one year from the date of first use or 18 months for parts, data center cooling solutions, and cleanroom systems to 25 years for certain heat exchangers. The Company has an obligation to replace parts if conditions under the warranty are met. A provision is made for estimated warranty costs at the time the related products are sold based upon the warranty period, historical trends, new products, and any known identifiable warranty issues. Changes in the warranty accrual are as follows: Three Months Ended Six Months Ended June 30, June 30, June 30, June 30, Warranty accrual: (in thousands) Balance, beginning of period $ 21,349 $ 16,209 $ 20,573 $ 15,682 Payments made (3,037) (2,435) (5,659) (4,316) Warranty expense 3,320 3,126 6,718 5,534 Balance, end of period $ 21,632 $ 16,900 $ 21,632 $ 16,900

Accrued Liabilities and Other L

Accrued Liabilities and Other Long-Term Liabilities	6 Months Ended
	Jun. 30, 2024
Payables and Accruals [Abstract]
Accrued Liabilities and Other Long-Term Liabilities	Accrued Liabilities and Other Long-Term Liabilities Accrued liabilities were comprised of the following: June 30, December 31, 2023 (in thousands) Warranty $ 21,632 $ 20,573 Due to representatives 19,934 14,428 Payroll 11,425 18,829 Profit sharing 6,393 7,596 Workers' compensation 545 338 Medical self-insurance 1,940 1,460 Customer prepayments 1,856 2,621 Donations, short-term 1,153 381 Accrued income taxes — 1,170 Employee vacation time 11,042 10,315 Extended warranties, short-term 2,829 2,387 Lease liability, short-term 2,272 2,021 Property taxes 2,008 — Other 2,470 3,389 Total $ 85,499 $ 85,508 Other long-term liabilities were comprised of the following: June 30, December 31, 2023 (in thousands) Lease liability $ 14,335 $ 10,201 Extended warranties 6,835 6,082 Donations and other — 524 Total $ 21,170 $ 16,807

Revolving Credit Facility

Revolving Credit Facility	6 Months Ended
	Jun. 30, 2024
Debt Disclosure [Abstract]
Revolving Credit Facility	Revolving Credit Facility On May 27, 2022, we amended our $100.0 million Amended and Restated Loan Agreement dated November 24, 2021 (as amended, “Revolver”), to provide for maximum borrowings of $200.0 million. As of June 30, 2024, and December 31, 2023 we had $85.9 million and $38.3 million outstanding under the Revolver, respectively. We have two standby letters of credit totaling $2.3 million as of June 30, 2024. Borrowings available under the Revolver at June 30, 2024 were $111.8 million. The Revolver expires on May 27, 2027. We have amended the Revolver to allow for the occurrence of transactions associated with the New Markets Tax Credit transactions (Note 16). Any outstanding loans under the Revolver bear interest at the daily compounded secured overnight financing rate ("SOFR") plus the applicable margin. Applicable margin, ranging from 1.25% - 1.75%, is determined quarterly based on the Company's leverage ratio. The Company is also subject to letter of credit fees, ranging from 1.25% - 1.75%, and a commitment fee, ranging from 0.10% - 0.20%. The applicable fee percentage is determined quarterly based on the Company's leverage ratio. The weighted average interest rate on borrowings outstanding on the Revolver was 6.6% for both the three and six months ended June 30, 2024, respectively, as compared to 6.3% and 6.2% for the three and six months ended June 30, 2023, respectively. Fees associated with the unused portion of the committed amount are included in interest expense on our consolidated statements of income for the three and six months ended June 30, 2024 and 2023, respectively. If SOFR cannot be determined pursuant to the definition, as defined by the Revolver agreement, any outstanding affected loans will be deemed to have been converted into alternative base rate ("ABR") loans. ABR loans would bear interest at a rate per annum equal to the highest of (a) the Prime Rate in effect on such day, (b) the Federal Funds Rate in effect on such day plus 0.50%, or (c) daily simple SOFR for a one-month tenor in effect on such day plus 1.00%.

Income Taxes

Income Taxes	6 Months Ended
	Jun. 30, 2024
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The provision (benefit) for income taxes consists of the following: Three Months Ended Six Months Ended June 30, June 30, June 30, June 30, (in thousands) Current $ 13,998 $ 13,037 $ 22,530 $ 18,472 Deferred 781 (5,359) 41 (4,438) Income tax provision $ 14,779 $ 7,678 $ 22,571 $ 14,034 The provision for income taxes differs from the amount computed by applying the Federal statutory income tax rate before the provision for income taxes. The reconciliation of the Federal statutory income tax rate to the effective income tax rate is as follows: Three Months Ended Six Months Ended June 30, June 30, June 30, June 30, Federal statutory rate 21.0 % 21.0 % 21.0 % 21.0 % State income taxes, net of Federal benefit 4.8 4.6 5.0 4.4 Excess tax benefits related to share-based compensation (Note 12) (3.4) (3.8) (5.8) (6.0) Return to provision — — (0.1) (0.1) Non-deductible executive compensation 1.5 — 1.3 — Research and development credits (1.2) (1.2) (1.2) (1.3) Change in valuation allowance (Oklahoma Investment Credit) — (5.8) — (3.2) Other (0.6) (0.4) (0.4) (0.3) Effective tax rate 22.1 % 14.4 % 19.8 % 14.5 % We have historically earned investment tax credits from the state of Oklahoma’s manufacturing property investment program. We use the flow-through method to account for investment tax credits earned on eligible tangible asset expenditures. Under this method, the investment tax credits are recognized as a reduction to our Oklahoma income tax expense in the year they are used. As part of our expansion projects in Oklahoma, we identified a separate, more advantageous Oklahoma credit program (not income tax related) which resulted in us discontinuing our accumulation of credits for Oklahoma’s manufacturing property investment program after the 2022 tax year. Because the Company will not generate additional excess credits after our 2022 tax year, we will be able to use our credit carryforwards against future taxable income and the related valuation allowance was reversed resulting in a one-time benefit of $3.1 million to the income tax provision for the three and six months ended June 30, 2023. As of June 30, 2024, we have investment tax credit carryforwards of approximately $1.1 million. These credits have estimated expirations from the year 2039 through 2043. In accordance with the 2017 Tax Cuts & Jobs Act, under Internal Revenue Code Section 162(m), the tax deduction for covered executives of public companies is limited to $1.0 million per individual. Because of the increase in our stock price and timing of executive stock option exercises this resulted in an increase to the income tax provision of approximately $1.0 million and $1.5 million for the three and six months ended June 30, 2024, respectively. In accordance with the 2017 Tax Cuts & Jobs Act, under Internal Revenue Code Section 174, research and development expenses incurred after December 31, 2021 are required to be capitalized and amortized over 5 years. The amortization requirements for tax purposes is a mid-year convention, meaning that the tax amortization is 10% in the year of acquisition, 20% in the following 4 years, and 10% in the final year. The Company's estimated annual 2024 effective tax rate, excluding discrete events, is approximately 25.2%. We file income tax returns in the U.S., state and foreign income tax return jurisdictions. We are subject to U.S. income tax examinations for tax years 2020 to present, and to non-U.S. income tax examinations for the tax years 2019 to present. In addition, we are subject to state and local income tax examinations for the tax years 2019 to present. The Company continues to evaluate its need to file returns in various state jurisdictions. Any interest or penalties would be recognized as a component of income tax expense.

Share-Based Compensation

Share-Based Compensation	6 Months Ended
	Jun. 30, 2024
Share-Based Payment Arrangement [Abstract]
Share-Based Compensation	Share-Based Compensation As discussed in Note 15, the Company declared a three-for-two stock split effective August 16, 2023. All share and per share information has been updated to reflect the effect of this stock split. On May 22, 2007, our stockholders adopted a Long-Term Incentive Plan (“LTIP”) which provided 5.0 million shares that could be granted in the form of stock options, stock appreciation rights, restricted stock awards, performance units and performance awards. Under the LTIP, the exercise price of shares granted could not be less than 100% of the fair market value at the date of the grant. On May 24, 2016, our stockholders adopted the 2016 Long-Term Incentive Plan ("2016 Plan") which provides for approximately 13.4 million shares, comprised of 5.1 million new shares provided for under the 2016 Plan, approximately 0.6 million shares that were available for issuance under the previous LTIP that were then authorized for issuance under the 2016 Plan, approximately 3.9 million shares that were approved by the stockholders on May 15, 2018, and an additional 3.8 million shares that were approved by the stockholders on May 12, 2020. On May 21, 2024, our stockholders adopted the 2024 Long-Term Incentive Plan ("2024 Plan") which provides for approximately 2.7 million new shares and approximately 3.7 million shares that were issued and outstanding under the 2016 Plan (as of May 21, 2024) that are now authorized for issuance under the 2024 Plan. The 3.7 million shares issued and outstanding under the 2016 Plan are only eligible for issuance under the 2024 Plan upon forfeiture, expiration, or cancellation. Under the 2024 Plan and previously under the 2016 Plan (collectively, the "Plans"), shares can be granted in the form of stock options, stock appreciation rights, restricted stock awards, performance awards, dividend equivalent rights, and other awards. Under the Plans, the exercise price of shares granted may not be less than 100% of the fair market value at the date of the grant. The Plans are administered by the Compensation Committee of the Board of Directors or such other committee of the Board of Directors as is designated by the Board of Directors (the “Committee”). Membership on the Committee is limited to independent directors. The Committee may delegate certain duties to one or more officers of the Company as provided in the Plans. The Committee determines the persons to whom awards are to be made, determines the type, size and terms of awards, interprets the Plans, establishes and revises rules and regulations relating to the Plans and makes any other determinations that it believes necessary for the administration of the Plans. Options The following weighted average assumptions were used to determine the fair value of the stock options granted on the original grant date for expense recognition purposes for options granted during the six months ended June 30, 2024 and 2023, using a Black Scholes-Merton Model: Six months ended June 30, June 30, Directors and SLT 1 : Expected (annual) dividend rate $0.32 $0.32 Expected volatility 37.90% 37.89% Risk-free interest rate 4.14% 4.39% Expected life (in years) 4.0 4.0 Employees: Expected (annual) dividend rate $0.32 $0.32 Expected volatility 33.51% 38.52% Risk-free interest rate 4.28% 4.40% Expected life (in years) 3.0 3.0 1 SLT consists of officers and key members of management. The expected term of the options is based on evaluations of historical and expected future employee exercise behavior. The risk-free interest rate is based on the U.S. Treasury rates at the date of grant with maturity dates approximately equal to the expected life at the grant date. Volatility is based on historical volatility of our stock over time periods equal to the expected life at grant date. The following is a summary of stock options vested and exercisable as of June 30, 2024: Range of Number Weighted Average Remaining Contractual Life (in years) Weighted Intrinsic Value ( in thousands ) $ 13.95 - $ 27.58 1,447,345 3.86 $ 24.89 $ 90,236 $ 28.28 - $ 37.07 653,631 6.25 31.56 36,404 $ 37.09 - $ 94.48 350,308 7.21 51.11 12,658 Total 2,451,284 4.98 $ 30.42 $ 139,298 A summary of stock option activity under the plans is as follows: Stock Options Shares Weighted Outstanding at December 31, 2023 3,619,585 $ 33.09 Granted 405,124 79.56 Exercised (476,686) 33.18 Forfeited or Expired (26,288) 56.65 Outstanding at June 30, 2024 3,521,735 $ 38.25 Exercisable at June 30, 2024 2,451,284 $ 30.42 The total pre-tax compensation cost related to unvested stock options not yet recognized as of June 30, 2024, is $12.8 million and is expected to be recognized over a weighted average period of approximately 2.1 years. The total intrinsic value of options exercised during the six months ended June 30, 2024 and 2023, was $23.8 million and $25.3 million, respectively. The cash received from options exercised during the six months ended June 30, 2024 and 2023, was $15.8 million and $23.2 million, respectively. The impact of these cash receipts is included in financing activities in the accompanying consolidated statements of cash flows. Restricted Stock The fair value of restricted stock awards is based on the fair market value of AAON, Inc. common stock on the respective grant dates, reduced for the present value of dividends. At June 30, 2024, unrecognized compensation cost related to unvested restricted stock awards was approximately $7.2 million, which is expected to be recognized over a weighted average period of approximately 2.0 years. A summary of the unvested restricted stock awards is as follows: Shares Weighted Unvested at December 31, 2023 187,084 $ 44.07 Granted 64,368 78.13 Vested (93,572) 40.63 Forfeited (2,704) 56.01 Unvested at June 30, 2024 155,176 $ 60.07 PSUs We have awarded performance restricted stock units ("PSUs") to certain officers and employees under our 2016 Plan. Unlike our restricted stock awards, these PSUs are not considered legally outstanding and do not accrue dividends during the vesting period. These PSUs vest based on the level of achievement with respect to the Company's total shareholder return ("TSR") benchmarked against similar companies included in the capital goods sector of the S&P SmallCap 600 Index. The TSR measurement period is three years. At the end of the measurement period, each award will be converted into common stock at 0% to 200% of the PSUs held, depending on overall TSR as compared to the S&P SmallCap 600 Index benchmark companies. The total pre-tax compensation cost related to unvested PSUs not yet recognized as of June 30, 2024, is $7.4 million and is expected to be recognized over a weighted average period of approximately 1.8 years. The following weighted average assumptions were used to determine the fair value of the PSUs granted on the original grant date for expense recognition purposes for PSUs granted during the six months ended June 30, 2024 and 2023, using a Monte Carlo Model: Six months ended June 30, June 30, Expected (annual) dividend rate $0.32 $0.32 Expected volatility 33.99% 32.71% Risk-free interest rate 4.31% 4.66% Expected life (in years) 2.8 2.8 The expected term of the PSUs is based on their remaining performance period. The risk-free interest rate is based on the U.S. Treasury rates at the date of grant with maturity dates approximately equal to the expected life at the grant date. Volatility is based on historical volatility of our stock over time periods equal to the expected life at grant date. A summary of the unvested PSUs is as follows: Shares Weighted Unvested at December 31, 2023 152,112 $ 54.88 Granted 47,599 106.24 Additional target payout 1 2,059 58.53 Vested (21,919) 58.53 Forfeited (2,362) 58.53 Unvested at June 30, 2024 2 177,489 $ 68.20 1 The additional number of PSUs earned based on a 110% achievement at December 31, 2023 for awards vesting in 2024. 2 Consists of 71,760 PSUs cliff vesting December 31, 2024, 58,130 PSUs cliff vesting December 31, 2025, and 47,599 PSUs cliff vesting December 31, 2026. Key Employee Awards As part of the December 2021 acquisition of BASX, the Company granted awards to key employees of BASX ("Key Employee Awards"). Unlike our restricted stock awards under the 2016 Plan, the Key Employee Awards are not considered legally outstanding and do not accrue dividends during the vesting period. The issuance of the Key Employee Awards was contingent upon BASX meeting certain post-closing earn-out milestones during each of the years ending 2021, 2022 and 2023 as defined by the BASX acquisition membership interest purchase agreement ("MIPA Agreement") and continued employment with the Company. At the end of the earn-out period, ending December 31, 2023, each eligible Key Employee Award vested and was converted into common stock. The fair value of Key Employee Awards is based on the fair market value of AAON common stock on the grant date. All pre-tax compensation cost has been recognized as of December 31, 2023, and all awards vested in March 2024. A summary of the unvested Key Employee Awards is as follows: Shares Weighted Unvested at December 31, 2023 39,899 $ 53.45 Granted — — Vested (39,899) 53.45 Forfeited — — Unvested at June 30, 2024 — $ — Share-Based Compensation A summary of share-based compensation is as follows: Three Months Ended Six Months Ended June 30, June 30, June 30, June 30, Grant date fair value of awards during the period: (in thousands) Options $ 412 $ 445 $ 9,120 $ 5,118 PSUs 96 1,666 5,057 4,907 Restricted stock 837 1,244 5,029 4,150 Total $ 1,345 $ 3,355 $ 19,206 $ 14,175 Share-based compensation expense: Options $ 2,046 $ 2,311 $ 4,253 $ 4,376 PSUs 1,227 716 1,851 1,083 Restricted stock 1,221 1,024 2,347 1,850 Key Employee Awards — 253 — 514 Total $ 4,494 $ 4,304 $ 8,451 $ 7,823 Income tax benefit (deficiency) related to share-based compensation: Options $ 2,081 $ 1,840 $ 5,228 $ 5,161 PSUs — — 169 — Restricted stock 163 199 971 664 Key Employee Awards — — 282 — Total $ 2,244 $ 2,039 $ 6,650 $ 5,825 Share-based compensation expense is recognized on a straight-line basis over the service period of the related share-based compensation award. Historically, stock options and restricted stock awards, granted to employees, vested at a rate of 20% per year. Restricted stock awards granted to directors historically vested one-third each year or, if granted on or after May 2019, vest over the shorter of directors' remaining elected term or one-third each year. As of March 2021, all new grants of stock options and restricted stock awards, granted to employees, vest at a rate of 33.3% per year. Forfeitures are accounted for as they occur. Historically, if the employee or director is retirement eligible (as defined by the applicable LTIP, 2016 Plan or 2024 Plan) or becomes retirement eligible during the service period of the related share-based compensation award, the service period (and compensation expense recognition) is the lesser of 1) the grant date, if retirement eligible on grant date, or 2) the period between grant date and retirement eligible date. All stock options and restricted stock awards granted on or after March 1, 2020 to retirement eligible employees or directors contain a one-year employment requirement (minimum service period) or the entire award is forfeited. Forfeitures are accounted for as they occur. The PSUs cliff vest on December 31, at the end of the third year from the date of grant. Share-based compensation expense is recognized on a straight-line basis over the service period of PSUs. The PSUs are subject to several service and market conditions, as defined by the PSU agreement, which allows the holder to retain a pro-rata amount of awards as a result of certain termination conditions, retirement, change in common control, or death. Forfeitures are accounted for as they occur.

Employee Benefits

Employee Benefits	6 Months Ended
	Jun. 30, 2024
Retirement Benefits [Abstract]
Employee Benefits	Employee Benefits Defined Contribution Plan - 401(k ) We sponsor a defined contribution plan (the “Plan”). Eligible employees may make contributions in accordance with the Plan and IRS guidelines. In addition to the traditional 401(k), eligible employees are given the option of making an after-tax contribution to a Roth 401(k) or a combination of both. The Plan provides for automatic enrollment and for an automatic increase to the deferral percentage at January 1st of each year and each year thereafter. Eligible employees are automatically enrolled in the Plan at a 6% deferral rate and currently contributing employees deferral rates will be increased to 6% unless their current rate is at or above 6% or the employee elects to decline the automatic enrollment or increase. Administrative expenses are paid for by Plan participants. The Company paid no administrative expenses during the six months ended June 30, 2024 and 2023. The Company matches 175% up to 6% of employee contributions of eligible compensation. Additionally, Plan participant forfeitures are used to reduce the cost of the Company contributions. Three Months Ended Six Months Ended June 30, June 30, June 30, June 30, (in thousands) Contributions, net of forfeitures, made to the defined contribution plan $ 4,366 $ 3,408 $ 10,076 $ 8,667 Profit Sharing Bonus Plans We maintain a discretionary profit sharing bonus plan under which approximately 8.5% of pre-tax profit (10% prior to January 1, 2024) from the Company is paid to eligible employees on a quarterly basis in order to reward employee productivity. Eligible employees are regular full-time non-exempt employees of the Company who are actively employed and working on the first and last day of the calendar quarter. BASX employees are eligible to participate in the discretionary profit sharing bonus plan on January 1, 2024. Prior to January 1, 2024, BASX had a separate employee incentive program (EIP) under which 5% of BASX's pre-tax profit, plus certain add backs, is paid ratably to eligible employees based on days-of-pay during the fiscal year. Eligible employees are regular full-time and part-time employees who have worked during the year and are still employed when the EIP payment is made following the end of the fiscal year, excluding members of BASX's senior leadership team and any employee paid commissions or royalties. This incentive program ended December 31, 2023. Three Months Ended Six Months Ended June 30, June 30, June 30, June 30, (in thousands) Profit sharing bonus plan and employee incentive plan expense $ 6,477 $ 5,952 $ 11,077 $ 10,818 Employee Medical Plan We self-insure for our employees' health insurance, and make medical claim payments up to certain stop-loss amounts. We estimate our self-insurance liabilities using an analysis provided by our claims administrator and our historical claims experience. Eligible employees are regular full-time employees who are actively employed and working. Participants are expected to pay a portion of the premium costs for coverage of the benefits provided under the Plans. In addition, the Company matches 175% of a participating employee's allowed contributions to a qualified health saving account to assist employees with health insurance plan deductibles. BASX employees joined the Company's medical plan and benefits on January 1, 2024. BASX was insured for healthcare coverage through a third party through December 31, 2023. Eligible employees are regular full-time employees who are actively employed and working. Participants are expected to pay a portion of the premium costs for coverage of the benefits provided under the Plans. In addition, the Company contributes certain amounts for BASX's employees enrolled in a high deductible plan to a qualified health savings account to assist employees with health insurance plan deductibles. This healthcare coverage ended December 31, 2023. Three Months Ended Six Months Ended June 30, June 30, June 30, June 30, (in thousands) Medical premium payments $ 3,924 $ 4,132 $ 7,295 $ 6,800 Health saving account contributions 2,116 1,198 4,282 2,258

Earnings Per Share

Earnings Per Share	6 Months Ended
	Jun. 30, 2024
Earnings Per Share [Abstract]
Earnings Per Share	Earnings Per Share Basic net income per share is calculated by dividing net income by the weighted average number of shares of common stock outstanding during the period. Diluted net income per share assumes the conversion of all potentially dilutive securities and is calculated by dividing net income by the sum of the weighted average number of shares of common stock outstanding plus all potentially dilutive securities. Dilutive common shares consist primarily of stock options and restricted stock awards. The following table sets forth the computation of basic and diluted earnings per share for the six months ended June 30, 2024 and 2023: Three Months Ended Six Months Ended June 30, June 30, June 30, June 30, Numerator: (in thousands, except share and per share data) Net income $ 52,228 $ 45,682 $ 91,244 $ 82,496 Denominator: Basic weighted average shares 3 81,791,792 81,439,691 81,339,153 81,263,523 Effect of dilutive shares related to stock based compensation 1,3 1,994,430 2,029,890 2,093,715 2,002,200 Effect of dilutive shares related to contingent consideration 2 ,3 — — 94,849 212,775 Diluted weighted average shares 3 83,786,222 83,469,581 83,527,717 83,478,498 Earnings per share: Basic 3 $ 0.64 $ 0.56 $ 1.12 $ 1.02 Dilutive 3 $ 0.62 $ 0.55 $ 1.09 $ 0.99 Anti-dilutive shares: Shares 3 437,997 347,370 275,357 263,905 1 Dilutive shares related to stock options, restricted stock, PSUs and Key Employee Awards (Note 12) 2 Dilutive shares related to contingent shares issued to the former owners of BASX (Note 15) 3 Reflects three-for-two stock split effective August 16, 2023.

Stockholders' Equity

Stockholders' Equity	6 Months Ended
	Jun. 30, 2024
Stockholders' Equity Note [Abstract]
Stockholders' Equity	Stockholders’ Equity Stock Repurchases The Board authorizes the stock repurchase programs for the Company. The Company may purchase shares on the open market from time to time. The Board must authorize the timing and amount of these purchases and all repurchases are in accordance with the rules and regulations of the SEC allowing the Company to repurchase shares from the open market. Our authorized open market repurchase programs during the periods presented are as follows: Effective Date Authorized Repurchase $ Expiration Date November 3, 2022 $50 million 1 February 27, 2024 February 27, 2024 $50 million 1 June 4, 2024 June 4, 2024 $50 million 2 June 14, 2024 1 Repurchases made in accordance with Rule 10b5-1 of the Securities Exchange Act of 1934, as amended. 2 Repurchases made in accordance with Rule 10b-18 of the Securities Exchange Act of 1934, as amended. The Company also repurchases shares of AAON, Inc. stock from employees for payment of statutory tax withholdings on stock transactions. All other repurchases from directors or employees are contingent upon Board approval and are repurchased at current market prices. Our repurchase activity is as follows: Six Months Ended June 30, 2024 June 30, 2023 (in thousands, except share and per share data) Program Shares 1 Total $ $ per share 1 Shares 1 Total $ $ per share 1 Open market 1,353,564 $ 100,034 $ 73.90 — $ — $ — Employees 42,573 3,493 82.05 19,624 1,162 59.21 Total 1,396,137 $ 103,527 $ 74.15 19,624 $ 1,162 $ 59.21 1 Reflects three-for-two stock split effective August 16, 2023. Cash Dividends At the discretion of the Board, we pay cash dividends. Board approval is required to determine the date of declaration and amount for each cash dividend payment. Our recent cash dividends are as follows: Declaration Date Record Date Payment Date Dividend per Share 1 Annualized Dividend per Share 1 March 1, 2023 March 13, 2023 March 31, 2023 $0.08 $0.32 May 18, 2023 June 9, 2023 June 30, 2023 $0.08 $0.32 August 18, 2023 September 8, 2023 September 29, 2023 $0.08 $0.32 November 10, 2023 November 29, 2023 December 18, 2023 $0.08 $0.32 March 5, 2024 March 18, 2024 March 29, 2024 $0.08 $0.32 May 24, 2024 June 7, 2024 June 28, 2024 $0.08 $0.32 1 Reflects three-for-two stock split effective August 16, 2023. Stock Split On July 7, 2023, the Board of Directors declared a three-for-two stock split of the Company's common stock to be paid in the form of a stock dividend. Stockholders of record at the close of business on July 28, 2023 received one additional share for every two shares they held as of that date on August 16, 2023 (ex-dividend date August 17, 2023). Cash was paid in lieu of fractional shares (approximately $0.5 million). All share and per share information has been updated to reflect the effects of this stock split. The retroactive effect of the stock split resulted in an approximately $0.1 million reclass between common stock and retained earnings within stockholders' equity on the consolidated balance sheet. Contingent Shares Issued in BASX Acquisition As discussed above, the Company declared a three-for-two stock split effective August 16, 2023. All share and per share information has been updated to reflect the effect of this stock split. In December 2021, we closed on the acquisition of BASX. Under the MIPA Agreement, we committed to $78.0 million in the aggregate of contingent consideration to the former owners of BASX, which is payable in approximately 1.56 million shares of the Company's common stock, par value $0.004 per share. The shares do not accrue dividends. Under the MIPA Agreement, the issuance of shares to the former owners of BASX was contingent upon BASX meeting certain post-closing earn-out milestones during each of the years ended 2021, 2022, and 2023. In March 2024, we issued the remaining 0.24 million shares related to the earn-out milestone for the year ended 2023. As a result of the shares issued in March 2024, the tax basis exceeded the book basis for consideration paid resulting in a deferred tax asset and an increase to additional paid-in capital of $6.4 million, respectively, on our consolidated balance sheet. The deferred tax asset is expected to be amortized over fifteen years. We previously issued 0.58 million shares in March 2023, related to the earn-out milestone for the year ended 2022. All shares have been issued as private placements exempt from registration with the SEC under Rule 506(b) and are included in common stock on the consolidated statements of stockholders' equity. Authorized Shares Outstanding

New Market Tax Credit

New Market Tax Credit	6 Months Ended
	Jun. 30, 2024
New Market Tax Credit [Abstract]
New Market Tax Credit	New Markets Tax Credit 2019 New Markets Tax Credit On October 24, 2019, the Company entered into a transaction with a subsidiary of an unrelated third-party financial institution (the “2019 Investor”) and a certified Community Development Entity under a qualified New Markets Tax Credit (“2019 NMTC”) program pursuant to Section 45D of the Internal Revenue Code of 1986, as amended, related to an investment in plant and equipment to facilitate the expansion of our Longview, Texas manufacturing operations (the “2019 Project”). In connection with the 2019 NMTC transaction, the Company received a $23.0 million NMTC allocation for the Project and secured low interest financing and the potential for future debt forgiveness related to the 2019 Project. Upon closing of the 2019 NMTC transaction, the Company provided an aggregate of approximately $15.9 million to the 2019 Investor, in the form of a loan receivable, with a term of twenty-five years, bearing an interest rate of 1.0%. This $15.9 million in proceeds plus capital contributed from the 2019 Investor was used to make an aggregate $22.5 million loan to a subsidiary of the Company. This financing arrangement is secured by equipment at the Company's Longview, Texas facilities and a guarantee from the Company, including an unconditional guarantee of the NMTCs. This transaction also includes a put/call feature either of which can be exercised at the end of the seven-year compliance period. The 2019 Investor may exercise its put option or the Company can exercise the call, both of which could serve to trigger forgiveness of a portion of the debt. The 2019 Investor's interest of $6.5 million is recorded in New market tax credit obligation on the consolidated balance sheets. The Company incurred approximately $0.3 million of debt issuance costs related to the above transactions, which are being amortized over the life of the transaction. 2023 New Markets Tax Credit On April 25, 2023, the Company entered into a transaction with a subsidiary of an unrelated third-party financial institution (the “2023 Investor”) and a certified Community Development Entity under a qualified New Markets Tax Credit (“2023 NMTC”) program pursuant to Section 45D of the Internal Revenue Code of 1986, as amended, related to an investment in plant and equipment to facilitate the expansion of our Longview, Texas manufacturing operations (the “2023 Project”). In connection with the 2023 NMTC transaction, the Company received a $23.0 million NMTC allocation for the 2023 Project and secured low interest financing and the potential for future debt forgiveness related to the expansion of its Longview, Texas facilities. Upon closing of the 2023 NMTC transaction, the Company provided an aggregate of approximately $16.7 million to the Investor, in the form of a loan receivable, with a term of twenty-five years, bearing an interest rate of 1.0%. This $16.7 million in proceeds plus capital contributed from the 2023 Investor was used to make an aggregate $23.8 million loan to a subsidiary of the Company. This financing arrangement is secured by a guarantee from the Company, including an unconditional guarantee of the NMTCs. The net proceeds from the closing of the 2023 NMTC are included in restricted cash on our consolidated balance sheets required to be used for the 2023 Project. This transaction also includes a put/call feature either of which can be exercised at the end of the seven-year compliance period. The 2023 Investor may exercise its put option or the Company can exercise the call, both of which could serve to trigger forgiveness of a portion of the debt. The 2023 Investor's interest of $5.7 million is recorded in New market tax credit obligation on the consolidated balance sheets. The Company incurred approximately $0.4 million of debt issuance costs related to the above transactions, which are being amortized over the life of the transaction. 2024 New Markets Tax Credit On February 27, 2024, the Company entered into a transaction with a subsidiary of an unrelated third-party financial institution (the “2024 Investor”) and a certified Community Development Entity under a qualified New Markets Tax Credit (“2024 NMTC”) program pursuant to Section 45D of the Internal Revenue Code of 1986, as amended, related to an investment in real estate to facilitate 2023 Project. In connection with the 2024 NMTC transaction, the Company received a $15.5 million NMTC allocation for the 2023 Project and secured low interest financing and the potential for future debt forgiveness related to the expansion of its Longview, Texas facilities. Upon closing of the 2024 NMTC transaction, the Company provided an aggregate of approximately $11.0 million to the Investor, in the form of a loan receivable, with a term of twenty-five years, bearing an interest rate of 1.0%. This $11.0 million in proceeds plus capital contributed from the Investor was used to make an aggregate $16.0 million loan to a subsidiary of the Company. This financing arrangement is secured by a guarantee from the Company, including an unconditional guarantee of the NMTCs. The net proceeds from the closing of the 2024 NMTC are included in restricted cash on our consolidated balance sheets required to be used for the 2023 Project. This transaction also includes a put/call feature that either of which can be exercised at the end of the seven-year compliance period. The Investor may exercise its put option or the Company can exercise the call, both of which could serve to trigger forgiveness of a portion of the debt. The 2024 Investor's interest of $3.8 million is recorded in New market tax credit obligations on the consolidated balance sheets. The Company incurred approximately $0.4 million of debt issuance costs related to the above transactions, which are being amortized over the life of the transaction. The 2019 Investor, 2023 Investor, and 2024 Investor are each subject to 100 percent recapture of the 2019, 2023, and 2024 NMTC, respectively, it receives for a period of seven years, as provided in the Internal Revenue Code and applicable U.S. Treasury regulations in the event that the financing facility of the Borrower under the transaction (AAON Coil Products, Inc.) becomes ineligible for NMTC treatment per the Internal Revenue Code requirements. The Company is required to be in compliance with various regulations and contractual provisions that apply to the 2019 NMTC arrangements, 2023 NMTC arrangements, and 2024 NMTC arrangements, respectively. Noncompliance with applicable requirements could result in the 2019 and/or 2023 and/or 2024 Investors' projected tax benefits not being realized and, therefore, require the Company to indemnify the 2019 Investor, 2023 Investor, and 2024 Investor for any loss or recapture of the 2019 NMTC, 2023 NMTC, and 2024 NMTC, respectively, related to the financing until such time as the recapture provisions have expired under the applicable statute of limitations. The Company does not anticipate any credit recapture will be required in connection with any of these financing arrangements.

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2024
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Havtech Litigation On January 24, 2022, one of the Company’s former independent sales representative firms, Havtech, LLC (and its affiliate, Havtech Parts Division, LLC, collectively “Plaintiffs”), filed a complaint (the “Complaint”) in the Circuit Court for Howard County, Maryland ( Havtech, LLC, et al., v. AAON, Inc., et al. ). The Complaint challenged the Company’s termination of its business relationship with Plaintiffs. The Company removed the action to the United States District Court for the District of Maryland (Northern Division) and moved to dismiss the Complaint. Plaintiffs’ First Amended Complaint (“First Amended Complaint”) was entered by the court on July 28, 2022. The First Amended Complaint asserts that the Company improperly terminated Plaintiffs and seeks damages alleged to be no less than $48.6 million, plus fees and costs. The Company filed its Answer to First Amended Complaint on January 31, 2023. On September 28, 2023, the parties attended a court ordered settlement conference and agreed to resolve the case for $7.5 million. A settlement agreement was entered into on October 25, 2023 and the case has been dismissed with prejudice. The final payment was made on October 26, 2023. Other Matters The Company is involved from time to time in claims and lawsuits incidental to our business arising from various matters, including alleged violations of contract, product liability, warranty, environmental, regulatory, personal injury, intellectual property, employment, tax and other laws. We closely monitor these claims and legal actions and frequently consult with our legal counsel to determine whether they may, when resolved, have a material adverse effect on our financial position, results of operations or cash flows and we accrue and/or disclose loss contingencies as appropriate. We do not believe these matters will have a material adverse effect on our business, financial position, results of operations or cash flows. We are occasionally party to short-term and long-term, cancellable and occasionally non-cancellable, contracts with major suppliers for the purchase of raw material and component parts. We expect to receive delivery of raw material and component parts for use in our manufacturing operations. These contracts are not accounted for as derivative instruments because they meet the normal purchase and normal sales exemption. We had no material contractual purchase obligations as of June 30, 2024, except as noted below. In 2023, the Company executed a five-year purchase commitment for refrigerants. Payments made in satisfaction of the purchase commitment were approximately $3.0 million and $6.6 million the three and six months ended June 30, 2024, respectively, as compared to $2.7 million and $5.1 million for the three and six months ended June 30, 2023, respectively. Estimated minimum future payments are $5.3 million, $9.1 million, $10.5 million, and $11.2 million for 2024, 2025, 2026, and 2027, respectively. We had no other material contractual purchase obligations as of June 30, 2024.

Related Parties

Related Parties	6 Months Ended
	Jun. 30, 2024
Related Party Transactions [Abstract]
Related Parties	Related Parties The following is a summary of transactions and balances with related parties: Three Months Ended Six Months Ended June 30, June 30, June 30, June 30, (in thousands) Sales to affiliates $ 1,625 $ 2,619 $ 3,821 $ 3,764 Payments to affiliates 505 390 1,120 782 June 30, December 31, (in thousands) Due from affiliates $ 380 $ 994 Due to affiliates — 145 The nature of our related party transactions is as follows: • The Company sells units to an entity owned by a member of the CEO's immediate family. This entity is also one of the Company’s Representatives and as such, the Company makes payments to the entity for third party products. • The Company purchases some supplies from entities controlled by two of the Company’s board members and a member of the Company's executive management team. • The Company periodically makes part sales and makes payments to a board member related to a consulting agreement. • The Company periodically rents space partially owned by the CEO for various Company meetings. • The Company leases flight time of an aircraft partially owned by our COO and Vice President.

Segments

Segments	6 Months Ended
	Jun. 30, 2024
Segment Reporting [Abstract]
Segments	Segments The Company has determined that it has three reportable segments for financial reporting purposes. Management evaluates the performance of its business segments primarily on gross profit. 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 and income from operations. The CODM does not evaluate operating segments using asset or liability information. AAON Oklahoma: AAON Oklahoma designs, manufactures, sells and services standard, semi-custom and custom heating, ventilation and air conditioning ("HVAC") systems, designs and produces controls solutions for all of our HVAC units and sells retail parts to customers through our two retail part stores in Tulsa, Oklahoma as well as online. Through our Norman Asbjornson Innovation Center ("NAIC") research and development laboratory facility in Tulsa, Oklahoma, the Company is able to test units under various environmental conditions. AAON Oklahoma includes the operations of our Tulsa, Oklahoma and Parkville, Missouri facilities, our NAIC research and development laboratory facility and two retail parts locations. AAON Coil Products: AAON Coil Products designs and manufactures a selection of our standard, semi-custom and custom HVAC systems. AAON Coil Products also designs and manufactures various heating and cooling coils to be used in HVAC systems, mostly for the benefit of AAON Oklahoma and AAON Coil Products. AAON Coil Products consists of operations at our Longview, Texas facilities. BASX: BASX provides product development design and manufacturing of custom engineered air handling systems including high efficiency data center cooling solutions, cleanroom HVAC systems, commercial/industrial HVAC systems and modular solutions. Additionally, BASX designs and manufactures cleanroom environmental control systems to support hospital surgical suites, pharmaceutical process facilities, semiconductor and electronics manufacturing, laboratory and isolation modular cleanrooms for facility flexibility. BASX consists of operations at our Redmond, Oregon facility. The following table summarizes certain financial data related to our segments. Transactions between segments are recorded based on prices negotiated between the segments. The Gross Profit amounts shown below are presented after elimination entries. Three Months Ended Six Months Ended June 30, June 30, June 30, June 30, Net Sales (in thousands) AAON Oklahoma External sales $ 225,727 $ 218,214 $ 435,867 $ 420,216 Inter-segment sales 1,311 1,205 2,982 2,699 AAON Coil Products External sales 31,373 30,081 55,620 63,493 Inter-segment sales 8,942 9,499 18,273 16,816 BASX External sales 56,466 35,662 84,178 66,201 Inter-segment sales 220 1,130 222 1,500 Eliminations (10,473) (11,834) (21,477) (21,015) Net sales $ 313,566 $ 283,957 $ 575,665 $ 549,910 Gross Profit AAON Oklahoma $ 83,870 $ 75,379 $ 162,281 $ 137,229 AAON Coil Products 13,159 7,483 21,298 14,641 BASX 16,065 11,156 21,757 19,302 Gross profit $ 113,094 $ 94,018 $ 205,336 $ 171,172 June 30, 2024 December 31, 2023 Long-lived assets (in thousands) AAON Oklahoma $ 255,382 $ 248,556 AAON Coil Products 103,524 83,169 BASX 70,414 49,996 Total long-lived assets $ 429,320 $ 381,721 Intangible assets and goodwill AAON Oklahoma $ 19,592 $ 10,282 AAON Coil Products — — BASX 137,860 139,663 Total intangible assets and goodwill $ 157,452 $ 149,945

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024		Jun. 30, 2023
Pay vs Performance Disclosure
Net income	$ 52,228	$ 45,682	$ 91,244	[1]	$ 82,496
[1] 1 Reflects three-for-two stock split effective August 16, 2023

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended	6 Months Ended
	Jun. 30, 2024 shares	Jun. 30, 2024 shares
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Terminated	false
Stephen E. Wakefield [Member]
Trading Arrangements, by Individual
Material Terms of Trading Arrangement		The following table describes contracts, instructions or written plans for the purchase or sale of our securities intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). Name and Title of Director or Officer Date of Adoption of Arrangement Duration of the Arrangement Aggregate Number of Securities to be Purchased or Sold Pursuant to the Arrangement Stephen E. Wakefield November 23, 2022 Terminated May 17, 2023 95,788 Vice President Stephen E. Wakefield September 13, 2023 Terminated December 27, 2023 181,000 Vice President Stephen E. Wakefield March 14, 2024 Terminated July 12, 2024 29,946 Vice President
Name	Stephen E. Wakefield
Title	Vice President
Rule 10b5-1 Arrangement Terminated	true
Termination Date	July 12, 2024
Arrangement Duration	120 days
Aggregate Available	29,946	29,946

General (Policies)

General (Policies)	6 Months Ended
	Jun. 30, 2024
Basis of Presentation and Significant Accounting Policies [Abstract]
Use of Estimates	Use of Estimates The preparation of consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Because these estimates and assumptions require significant judgment, actual results could differ from those estimates and could have a significant impact on our results of operations, financial position, and cash flows. We reevaluate our estimates and assumptions as needed, but at a minimum on a quarterly basis. The most significant estimates include, but are not limited to, inventory valuation, inventory reserves, warranty accrual, workers' compensation accrual, medical insurance accrual, income taxes, useful lives of property, plant, and equipment, estimated future use of leased property, share-based compensation, revenue percentage of completion and estimated costs to complete. Actual results could differ materially from those estimates. Inflation and Labor Market In 2023, we saw the slowing of inflation and some stabilization of raw material and component prices. Due to our favorable liquidity position, we continue to make strategic purchases of materials when we see opportunities. We continue to monitor and manage increases in the cost of raw materials through price increases for our products. We have also experienced supply chain challenges related to specific manufacturing parts, which we have managed through our strong vendor relationships as well as expanding our list of vendors. Additionally, we continue to experience challenges in a tight labor market, especially the hiring of both skilled and unskilled production labor. We have implemented the following wage increases to remain competitive and to attract and retain employees: • In March 2023, we awarded annual merit raises for an overall 3.9% increase to wages. • In March 2024, we awarded annual merit raises for an overall 3.3% increase to wages. We continue to implement human resource initiatives to retain and attract labor to further increase production capacity. Beginning in 2023, initiatives included changing our employee paid time off policy, historically awarded in arrears at the beginning of each quarter, to accrue ratably over each pay period. Additionally, we enhanced our benefits for short-term disability, life insurance, paid parental leave, and paid military leave. Despite efforts to mitigate the impact of inflation, supply chain issues and the tight labor market, future disruptions, while temporary, could negatively impact our consolidated financial position, results of operations and cash flows.
Fair Value Measurements	Fair Value Measurements The carrying amounts of cash and cash equivalents, receivables, accounts payable, and accrued liabilities approximate fair value because of the short-term maturity of the items. The carrying amount of the Company’s revolving line of credit, and other payables, approximate their fair values either due to their short term nature, the variable rates associated with the debt or based on current rates offered to the Company for debt with similar characteristics. Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability (an exit price) in an orderly transaction between market participants at the measurement date. Fair value is based upon assumptions that market participants would use when pricing an asset or liability. We use the following fair value hierarchy, which prioritizes valuation technique inputs used to measure fair value into three broad levels: • Level 1: Quoted prices in active markets for identical assets and liabilities that we have the ability to access at the measurement date. • Level 2: Inputs (other than quoted prices included within Level 1) that are either directly or indirectly observable for the asset or liability, including (i) quoted prices for similar assets or liabilities in active markets, (ii) quoted prices for identical or similar assets or liabilities in inactive markets, (iii) inputs other than quoted prices that are observable for the asset or liability, and (iv) inputs that are derived from observable market data by correlation or other means. • Level 3: Unobservable inputs for the asset or liability including situations where there is little, if any, market activity for the asset or liability. Items categorized in Level 3 include the estimated fair values of intangible assets, contingent consideration, and goodwill acquired in a business combination. The fair value hierarchy gives the highest priority to quoted prices in active markets (Level 1) and the lowest priority to unobservable inputs (Level 3). In some cases, the inputs used to measure fair value might fall into different levels of the fair value hierarchy. The lowest level input that is significant to a fair value measurement determines the applicable level in the fair value hierarchy. Assessing the significance of a particular input to a fair value measurement requires judgment, considering factors specific to the asset or liability.
Intangible Assets	Definite-Lived Intangible Assets Our definite-lived intangible assets include various trademarks, service marks, and technical knowledge acquired in business combinations or asset acquisitions. We amortize our definite-lived intangible assets on a straight-line basis over the estimated
Goodwill	Goodwill and Indefinite-Lived Intangible Assets Goodwill represents the excess of the consideration paid for the acquired businesses over the fair value of the individual assets acquired, net of liabilities assumed. Goodwill and indefinite-lived intangible assets are not amortized, but instead are evaluated for impairment at least annually. We perform our annual assessment of impairment during the fourth quarter of our fiscal year, and more frequently if circumstances warrant. The changes in the carrying amount of goodwill were as follows: Six Months Ended June 30, 2024 2023 (in thousands) Balance, beginning of period $ 81,892 $ 81,892 Additions (decreases) during the period — — Balance, end of period $ 81,892 $ 81,892
Recent Accounting Pronouncements	Recent Accounting Pronouncements Changes to U.S. GAAP are established by the Financial Accounting Standards Board ("FASB") in the form of Accounting Standards Updates ("ASUs") to the FASB's Accounting Standards Codification ("ASC"). We consider the applicability and impact of all ASUs. ASUs not listed or included within the Company's Annual Report on Form 10-K for the year ended December 31, 2023, were assessed and determined to be either not applicable or are expected to have minimal impact on our consolidated financial statements and notes thereto.

General (Tables)

General (Tables)	6 Months Ended
	Jun. 30, 2024
Basis of Presentation and Significant Accounting Policies [Abstract]
Schedule of Intangible Assets	Amortization is computed using the straight-line method over the following estimated useful lives: Intellectual property 6 - 30 years Customer relationships 14 years Software Development Costs We capitalize costs incurred to purchase or develop software for internal use. Internal-use software development costs are capitalized during the application development stage. These capitalized costs are reflected in intangible assets, net on the consolidated balance sheets and are amortized over the estimated useful life of the software. The useful life of our internal-use software development costs is generally one Our intangible assets consist of the following: June 30, December 31, 2023 Definite-lived intangible assets (in thousands) Intellectual property $ 12,450 $ 12,450 Customer relationships 47,547 47,547 Capitalized internal-use software 14,285 3,323 Less: Accumulated amortization (13,293) (9,838) Total, net 60,989 53,482 Indefinite-lived intangible assets Trademarks 14,571 14,571 Total intangible assets, net $ 75,560 $ 68,053
Schedule of Goodwill	The changes in the carrying amount of goodwill were as follows: Six Months Ended June 30, 2024 2023 (in thousands) Balance, beginning of period $ 81,892 $ 81,892 Additions (decreases) during the period — — Balance, end of period $ 81,892 $ 81,892

Revenue Recognition (Tables)

Revenue Recognition (Tables)	6 Months Ended
	Jun. 30, 2024
Revenue from Contract with Customer [Abstract]
Schedule of Disaggregation of Revenue	The following tables show disaggregated net sales by reportable segment (Note 19) by major source, net of intercompany sales eliminations. Three Months Ended June 30, 2024 AAON Oklahoma AAON Coil Products BASX Total (in thousands) Rooftop units $ 203,642 $ — $ — $ 203,642 Condensing units — 15,433 — 15,433 Air handlers — 12,496 2,371 14,867 Cleanroom systems — — 11,227 11,227 Data center cooling solutions — 926 41,907 42,833 Water-source heat pumps — 1,574 — 1,574 Part sales 17,974 — 906 18,880 Other 1 4,111 944 55 5,110 $ 225,727 $ 31,373 $ 56,466 $ 313,566 Three Months Ended June 30, 2023 AAON Oklahoma AAON Coil Products BASX Total (in thousands) Rooftop units $ 196,065 $ — $ — $ 196,065 Condensing units 61 11,329 — 11,390 Air handlers — 12,610 2,600 15,210 Outdoor mechanical rooms — 61 — 61 Cleanroom systems — — 17,086 17,086 Data center cooling solutions — 1,794 15,877 17,671 Water-source heat pumps 398 3,086 — 3,484 Part sales 15,963 — 243 16,206 Other 1 5,727 1,201 (144) 6,784 $ 218,214 $ 30,081 $ 35,662 $ 283,957 1 Other sales include freight, extended warranties and miscellaneous revenue. Six Months Ended June 30, 2024 AAON Oklahoma AAON Coil Products BASX Total (in thousands) Rooftop units $ 394,907 $ — $ — $ 394,907 Condensing units — 27,266 — 27,266 Air handlers — 22,474 4,558 27,032 Cleanroom systems — — 18,540 18,540 Data center cooling solutions — 1,132 59,580 60,712 Water-source heat pumps — 3,155 — 3,155 Part sales 33,291 6 1,184 34,481 Other 1 7,669 1,587 316 9,572 $ 435,867 $ 55,620 $ 84,178 $ 575,665 Six Months Ended June 30, 2023 AAON Oklahoma AAON Coil Products BASX Total (in thousands) Rooftop units $ 376,091 $ — $ — $ 376,091 Condensing units 61 26,607 — 26,668 Air handlers — 24,831 5,638 30,469 Outdoor mechanical rooms 208 212 — 420 Cleanroom systems — — 29,708 29,708 Data center cooling solutions — 3,240 30,353 33,593 Water-source heat pumps 3,128 6,166 — 9,294 Part sales 29,867 1 491 30,359 Other 1 10,861 2,436 11 13,308 $ 420,216 $ 63,493 $ 66,201 $ 549,910 1 Other sales include freight, extended warranties and miscellaneous revenue. Due to the highly customized nature of many of the Company’s products and each product not having an alternative use to the Company without significant costs to the Company, the Company recognizes revenue over time as progress is made toward satisfying the performance obligations of each contract. The Company has formal cancellation policies and generally does not accept returns on these units. As a result, many of the Company’s products do not have an alternative use and therefore, for these products we recognize revenue over the time it takes to produce the unit. Contract costs include direct materials, direct labor, installation, freight and delivery, commissions and royalties. Other costs not related to contract performance, such as indirect labor and materials, small tools and supplies, operating expenses, field rework and back charges are charged to expense as incurred. Provisions for estimated losses on contracts in progress are made in the period in which such losses are determined. Changes in job performance, job conditions, and estimated profitability, including those arising from contract penalty provisions and final contract settlements, may result in revisions to costs and income, and are estimated and recognized by the Company throughout the life of the contract. The aggregate of costs incurred and income recognized on uncompleted contracts in excess of billings is shown as a contract asset within our consolidated balance sheets, and the aggregate of billings on uncompleted contracts in excess of related costs incurred and income recognized is shown as a contract liability within our consolidated balance sheets. For all other products that are part sales or standardized units, the Company recognizes revenue, presented net of sales tax, when it satisfies the performance obligation in its contracts. As the primary performance obligation in such a contract is delivery of the requested manufactured equipment, we satisfy the performance obligation when the control is passed to the customer, generally at time of shipment. Final sales prices are fixed based on purchase orders. Sales allowances and customer incentives are treated as reductions to sales and are provided for based on historical experiences and current estimates. Historically, sales of our products were moderately seasonal with the peak period being May-October of each year due to timing of construction projects being directly related to warmer weather. However, in recent years, given the increases in demand of our product, changes in product mix and increases in our backlog, sales have become more constant throughout the year.

Leases (Tables)

Leases (Tables)	6 Months Ended
	Jun. 30, 2024
Leases [Abstract]
Schedule of Lessee, Operating Lease, Liability, Maturity	The following table presents the balances by lease type: Balance Sheet Classification June 30, 2024 December 31, 2023 Operating Leases Right of use assets Right of use assets $ 16,086 $ 11,774 Lease liability, short-term Accrued liabilities $ 2,272 $ 2,021 Lease liability, long-term Other long-term liabilities $ 14,335 $ 10,201
Contractual Obligation, Fiscal Year Maturity	Total undiscounted future lease payments are as follows: (in thousands) 2024 $ 1,612 2025 3,100 2026 3,046 2027 3,136 2028 3,130 Thereafter 6,403

Accounts Receivable (Tables)

Accounts Receivable (Tables)	6 Months Ended
	Jun. 30, 2024
Receivables [Abstract]
Accounts Receivable	June 30, December 31, 2023 (in thousands) Accounts receivable $ 150,641 $ 138,431 Less: Allowance for credit losses (1,492) (323) Total, net $ 149,149 $ 138,108
Allowance for Doubtful Accounts	Three Months Ended Six Months Ended June 30, June 30, June 30, June 30, Allowance for credit losses: (in thousands) Balance, beginning of period $ 435 $ 421 $ 323 $ 477 Provisions for (recoveries of) expected credit 1,062 (115) 1,174 (171) losses, net of adjustments Accounts receivable written off, net of recoveries (5) — (5) — Balance, end of period $ 1,492 $ 306 $ 1,492 $ 306

Inventories (Tables)

Inventories (Tables)	6 Months Ended
	Jun. 30, 2024
Inventory Disclosure [Abstract]
Inventories	The components of inventories and related changes in the allowance for excess and obsolete inventories account are as follows: June 30, December 31, 2023 (in thousands) Raw materials $ 181,403 $ 211,259 Work in process 5,190 5,523 Finished goods 3,196 2,910 Total, gross 189,789 219,692 Less: Allowance for excess and obsolete inventories (6,801) (6,160) Total, net $ 182,988 $ 213,532
Inventories (Allowance)	Three Months Ended Six Months Ended June 30, June 30, June 30, June 30, Allowance for excess and obsolete inventories: (in thousands) Balance, beginning of period $ 6,741 $ 4,748 $ 6,160 $ 4,527 Provision for (recoveries of) excess and 968 794 1,928 1,458 obsolete inventories Inventories written off (908) (261) (1,287) (704) Balance, end of period $ 6,801 $ 5,281 $ 6,801 $ 5,281

Intangible Assets (Tables)

Intangible Assets (Tables)	6 Months Ended
	Jun. 30, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Intangible Assets	Amortization is computed using the straight-line method over the following estimated useful lives: Intellectual property 6 - 30 years Customer relationships 14 years Software Development Costs We capitalize costs incurred to purchase or develop software for internal use. Internal-use software development costs are capitalized during the application development stage. These capitalized costs are reflected in intangible assets, net on the consolidated balance sheets and are amortized over the estimated useful life of the software. The useful life of our internal-use software development costs is generally one Our intangible assets consist of the following: June 30, December 31, 2023 Definite-lived intangible assets (in thousands) Intellectual property $ 12,450 $ 12,450 Customer relationships 47,547 47,547 Capitalized internal-use software 14,285 3,323 Less: Accumulated amortization (13,293) (9,838) Total, net 60,989 53,482 Indefinite-lived intangible assets Trademarks 14,571 14,571 Total intangible assets, net $ 75,560 $ 68,053
Schedule of Amortization Expense	Amortization expense recorded in selling, general and administrative expenses is as follows: Three Months Ended Six Months Ended June 30, June 30, June 30, June 30, (in thousands) Amortization expense $ 1,749 $ 901 $ 3,455 $ 1,803

Supplemental Cash Flow Inform_2

Supplemental Cash Flow Information (Tables)	6 Months Ended
	Jun. 30, 2024
Supplemental Cash Flow Elements [Abstract]
Supplemental Cash Flow Information	Three Months Ended Six Months Ended June 30, June 30, June 30, June 30, Supplemental disclosures: (in thousands) Interest paid $ 153 $ 1,506 $ 548 $ 2,627 Income taxes paid $ 28,359 $ 33,471 $ 28,670 $ 33,643 Non-cash investing and financing activities: Non-cash capital expenditures $ 5,356 $ 1,205 $ 3,278 $ 1,571 Contingent shares issued (Note 15) $ — $ — $ 6,364 $ —

Warranties (Tables)

Warranties (Tables)	6 Months Ended
	Jun. 30, 2024
Guarantees [Abstract]
Warranty	Changes in the warranty accrual are as follows: Three Months Ended Six Months Ended June 30, June 30, June 30, June 30, Warranty accrual: (in thousands) Balance, beginning of period $ 21,349 $ 16,209 $ 20,573 $ 15,682 Payments made (3,037) (2,435) (5,659) (4,316) Warranty expense 3,320 3,126 6,718 5,534 Balance, end of period $ 21,632 $ 16,900 $ 21,632 $ 16,900

Accrued Liabilities and Other_2

Accrued Liabilities and Other Long-Term Liabilities (Tables)	6 Months Ended
	Jun. 30, 2024
Payables and Accruals [Abstract]
Accrued Liabilities	Accrued liabilities were comprised of the following: June 30, December 31, 2023 (in thousands) Warranty $ 21,632 $ 20,573 Due to representatives 19,934 14,428 Payroll 11,425 18,829 Profit sharing 6,393 7,596 Workers' compensation 545 338 Medical self-insurance 1,940 1,460 Customer prepayments 1,856 2,621 Donations, short-term 1,153 381 Accrued income taxes — 1,170 Employee vacation time 11,042 10,315 Extended warranties, short-term 2,829 2,387 Lease liability, short-term 2,272 2,021 Property taxes 2,008 — Other 2,470 3,389 Total $ 85,499 $ 85,508
Schedule of Other Long-Term Liabilities	Other long-term liabilities were comprised of the following: June 30, December 31, 2023 (in thousands) Lease liability $ 14,335 $ 10,201 Extended warranties 6,835 6,082 Donations and other — 524 Total $ 21,170 $ 16,807

Income Taxes (Tables)

Income Taxes (Tables)	6 Months Ended
	Jun. 30, 2024
Income Tax Disclosure [Abstract]
Schedule of Components of Income Tax Expense (Benefit)	The provision (benefit) for income taxes consists of the following: Three Months Ended Six Months Ended June 30, June 30, June 30, June 30, (in thousands) Current $ 13,998 $ 13,037 $ 22,530 $ 18,472 Deferred 781 (5,359) 41 (4,438) Income tax provision $ 14,779 $ 7,678 $ 22,571 $ 14,034
Schedule of Effective Income Tax Rate Reconciliation	The reconciliation of the Federal statutory income tax rate to the effective income tax rate is as follows: Three Months Ended Six Months Ended June 30, June 30, June 30, June 30, Federal statutory rate 21.0 % 21.0 % 21.0 % 21.0 % State income taxes, net of Federal benefit 4.8 4.6 5.0 4.4 Excess tax benefits related to share-based compensation (Note 12) (3.4) (3.8) (5.8) (6.0) Return to provision — — (0.1) (0.1) Non-deductible executive compensation 1.5 — 1.3 — Research and development credits (1.2) (1.2) (1.2) (1.3) Change in valuation allowance (Oklahoma Investment Credit) — (5.8) — (3.2) Other (0.6) (0.4) (0.4) (0.3) Effective tax rate 22.1 % 14.4 % 19.8 % 14.5 %

Share-Based Compensation (Table

Share-Based Compensation (Tables)	6 Months Ended
	Jun. 30, 2024
Share-Based Payment Arrangement [Abstract]
Summary of Stock Option Assumptions	The following weighted average assumptions were used to determine the fair value of the stock options granted on the original grant date for expense recognition purposes for options granted during the six months ended June 30, 2024 and 2023, using a Black Scholes-Merton Model: Six months ended June 30, June 30, Directors and SLT 1 : Expected (annual) dividend rate $0.32 $0.32 Expected volatility 37.90% 37.89% Risk-free interest rate 4.14% 4.39% Expected life (in years) 4.0 4.0 Employees: Expected (annual) dividend rate $0.32 $0.32 Expected volatility 33.51% 38.52% Risk-free interest rate 4.28% 4.40% Expected life (in years) 3.0 3.0 1 SLT consists of officers and key members of management. The following weighted average assumptions were used to determine the fair value of the PSUs granted on the original grant date for expense recognition purposes for PSUs granted during the six months ended June 30, 2024 and 2023, using a Monte Carlo Model: Six months ended June 30, June 30, Expected (annual) dividend rate $0.32 $0.32 Expected volatility 33.99% 32.71% Risk-free interest rate 4.31% 4.66% Expected life (in years) 2.8 2.8
Summary of Stock Options Outstanding	The following is a summary of stock options vested and exercisable as of June 30, 2024: Range of Number Weighted Average Remaining Contractual Life (in years) Weighted Intrinsic Value ( in thousands ) $ 13.95 - $ 27.58 1,447,345 3.86 $ 24.89 $ 90,236 $ 28.28 - $ 37.07 653,631 6.25 31.56 36,404 $ 37.09 - $ 94.48 350,308 7.21 51.11 12,658 Total 2,451,284 4.98 $ 30.42 $ 139,298
Summary of Stock Option Activity	A summary of stock option activity under the plans is as follows: Stock Options Shares Weighted Outstanding at December 31, 2023 3,619,585 $ 33.09 Granted 405,124 79.56 Exercised (476,686) 33.18 Forfeited or Expired (26,288) 56.65 Outstanding at June 30, 2024 3,521,735 $ 38.25 Exercisable at June 30, 2024 2,451,284 $ 30.42
Summary of Unvested Restricted Stock Awards	A summary of the unvested restricted stock awards is as follows: Shares Weighted Unvested at December 31, 2023 187,084 $ 44.07 Granted 64,368 78.13 Vested (93,572) 40.63 Forfeited (2,704) 56.01 Unvested at June 30, 2024 155,176 $ 60.07
Schedule of Nonvested Key Employee Award Activity	A summary of the unvested Key Employee Awards is as follows: Shares Weighted Unvested at December 31, 2023 39,899 $ 53.45 Granted — — Vested (39,899) 53.45 Forfeited — — Unvested at June 30, 2024 — $ —
Schedule of Nonvested Performance-based Units Activity	A summary of the unvested PSUs is as follows: Shares Weighted Unvested at December 31, 2023 152,112 $ 54.88 Granted 47,599 106.24 Additional target payout 1 2,059 58.53 Vested (21,919) 58.53 Forfeited (2,362) 58.53 Unvested at June 30, 2024 2 177,489 $ 68.20 1 The additional number of PSUs earned based on a 110% achievement at December 31, 2023 for awards vesting in 2024. 2 Consists of 71,760 PSUs cliff vesting December 31, 2024, 58,130 PSUs cliff vesting December 31, 2025, and 47,599 PSUs cliff vesting December 31, 2026.
Summary of Share-Based Compensation Expense	A summary of share-based compensation is as follows: Three Months Ended Six Months Ended June 30, June 30, June 30, June 30, Grant date fair value of awards during the period: (in thousands) Options $ 412 $ 445 $ 9,120 $ 5,118 PSUs 96 1,666 5,057 4,907 Restricted stock 837 1,244 5,029 4,150 Total $ 1,345 $ 3,355 $ 19,206 $ 14,175 Share-based compensation expense: Options $ 2,046 $ 2,311 $ 4,253 $ 4,376 PSUs 1,227 716 1,851 1,083 Restricted stock 1,221 1,024 2,347 1,850 Key Employee Awards — 253 — 514 Total $ 4,494 $ 4,304 $ 8,451 $ 7,823 Income tax benefit (deficiency) related to share-based compensation: Options $ 2,081 $ 1,840 $ 5,228 $ 5,161 PSUs — — 169 — Restricted stock 163 199 971 664 Key Employee Awards — — 282 — Total $ 2,244 $ 2,039 $ 6,650 $ 5,825

Employee Benefits (Tables)

Employee Benefits (Tables)	6 Months Ended
	Jun. 30, 2024
Retirement Benefits [Abstract]
Schedule of Contributions Made to Defined Contribution Plan	The Company matches 175% up to 6% of employee contributions of eligible compensation. Additionally, Plan participant forfeitures are used to reduce the cost of the Company contributions. Three Months Ended Six Months Ended June 30, June 30, June 30, June 30, (in thousands) Contributions, net of forfeitures, made to the defined contribution plan $ 4,366 $ 3,408 $ 10,076 $ 8,667
Schedule of Profit Sharing Bonus Plan	We maintain a discretionary profit sharing bonus plan under which approximately 8.5% of pre-tax profit (10% prior to January 1, 2024) from the Company is paid to eligible employees on a quarterly basis in order to reward employee productivity. Eligible employees are regular full-time non-exempt employees of the Company who are actively employed and working on the first and last day of the calendar quarter. BASX employees are eligible to participate in the discretionary profit sharing bonus plan on January 1, 2024. Prior to January 1, 2024, BASX had a separate employee incentive program (EIP) under which 5% of BASX's pre-tax profit, plus certain add backs, is paid ratably to eligible employees based on days-of-pay during the fiscal year. Eligible employees are regular full-time and part-time employees who have worked during the year and are still employed when the EIP payment is made following the end of the fiscal year, excluding members of BASX's senior leadership team and any employee paid commissions or royalties. This incentive program ended December 31, 2023. Three Months Ended Six Months Ended June 30, June 30, June 30, June 30, (in thousands) Profit sharing bonus plan and employee incentive plan expense $ 6,477 $ 5,952 $ 11,077 $ 10,818
Schedule of Employee Medical Plan	e self-insure for our employees' health insurance, and make medical claim payments up to certain stop-loss amounts. We estimate our self-insurance liabilities using an analysis provided by our claims administrator and our historical claims experience. Eligible employees are regular full-time employees who are actively employed and working. Participants are expected to pay a portion of the premium costs for coverage of the benefits provided under the Plans. In addition, the Company matches 175% of a participating employee's allowed contributions to a qualified health saving account to assist employees with health insurance plan deductibles. BASX employees joined the Company's medical plan and benefits on January 1, 2024. BASX was insured for healthcare coverage through a third party through December 31, 2023. Eligible employees are regular full-time employees who are actively employed and working. Participants are expected to pay a portion of the premium costs for coverage of the benefits provided under the Plans. In addition, the Company contributes certain amounts for BASX's employees enrolled in a high deductible plan to a qualified health savings account to assist employees with health insurance plan deductibles. This healthcare coverage ended December 31, 2023. Three Months Ended Six Months Ended June 30, June 30, June 30, June 30, (in thousands) Medical premium payments $ 3,924 $ 4,132 $ 7,295 $ 6,800 Health saving account contributions 2,116 1,198 4,282 2,258

Earnings Per Share (Tables)

Earnings Per Share (Tables)	6 Months Ended
	Jun. 30, 2024
Earnings Per Share [Abstract]
Earnings Per Share	The following table sets forth the computation of basic and diluted earnings per share for the six months ended June 30, 2024 and 2023: Three Months Ended Six Months Ended June 30, June 30, June 30, June 30, Numerator: (in thousands, except share and per share data) Net income $ 52,228 $ 45,682 $ 91,244 $ 82,496 Denominator: Basic weighted average shares 3 81,791,792 81,439,691 81,339,153 81,263,523 Effect of dilutive shares related to stock based compensation 1,3 1,994,430 2,029,890 2,093,715 2,002,200 Effect of dilutive shares related to contingent consideration 2 ,3 — — 94,849 212,775 Diluted weighted average shares 3 83,786,222 83,469,581 83,527,717 83,478,498 Earnings per share: Basic 3 $ 0.64 $ 0.56 $ 1.12 $ 1.02 Dilutive 3 $ 0.62 $ 0.55 $ 1.09 $ 0.99 Anti-dilutive shares: Shares 3 437,997 347,370 275,357 263,905 1 Dilutive shares related to stock options, restricted stock, PSUs and Key Employee Awards (Note 12) 2 Dilutive shares related to contingent shares issued to the former owners of BASX (Note 15) 3 Reflects three-for-two stock split effective August 16, 2023.

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	6 Months Ended
	Jun. 30, 2024
Stockholders' Equity Note [Abstract]
Schedule of Market Repurchase	Our authorized open market repurchase programs during the periods presented are as follows: Effective Date Authorized Repurchase $ Expiration Date November 3, 2022 $50 million 1 February 27, 2024 February 27, 2024 $50 million 1 June 4, 2024 June 4, 2024 $50 million 2 June 14, 2024 1 Repurchases made in accordance with Rule 10b5-1 of the Securities Exchange Act of 1934, as amended. 2 Repurchases made in accordance with Rule 10b-18 of the Securities Exchange Act of 1934, as amended.
Schedule of Share Repurchases	Our repurchase activity is as follows: Six Months Ended June 30, 2024 June 30, 2023 (in thousands, except share and per share data) Program Shares 1 Total $ $ per share 1 Shares 1 Total $ $ per share 1 Open market 1,353,564 $ 100,034 $ 73.90 — $ — $ — Employees 42,573 3,493 82.05 19,624 1,162 59.21 Total 1,396,137 $ 103,527 $ 74.15 19,624 $ 1,162 $ 59.21 1 Reflects three-for-two stock split effective August 16, 2023.
Schedule of Dividends Payable	Our recent cash dividends are as follows: Declaration Date Record Date Payment Date Dividend per Share 1 Annualized Dividend per Share 1 March 1, 2023 March 13, 2023 March 31, 2023 $0.08 $0.32 May 18, 2023 June 9, 2023 June 30, 2023 $0.08 $0.32 August 18, 2023 September 8, 2023 September 29, 2023 $0.08 $0.32 November 10, 2023 November 29, 2023 December 18, 2023 $0.08 $0.32 March 5, 2024 March 18, 2024 March 29, 2024 $0.08 $0.32 May 24, 2024 June 7, 2024 June 28, 2024 $0.08 $0.32 1 Reflects three-for-two stock split effective August 16, 2023.
Earnings Per Share	The following table sets forth the computation of basic and diluted earnings per share for the six months ended June 30, 2024 and 2023: Three Months Ended Six Months Ended June 30, June 30, June 30, June 30, Numerator: (in thousands, except share and per share data) Net income $ 52,228 $ 45,682 $ 91,244 $ 82,496 Denominator: Basic weighted average shares 3 81,791,792 81,439,691 81,339,153 81,263,523 Effect of dilutive shares related to stock based compensation 1,3 1,994,430 2,029,890 2,093,715 2,002,200 Effect of dilutive shares related to contingent consideration 2 ,3 — — 94,849 212,775 Diluted weighted average shares 3 83,786,222 83,469,581 83,527,717 83,478,498 Earnings per share: Basic 3 $ 0.64 $ 0.56 $ 1.12 $ 1.02 Dilutive 3 $ 0.62 $ 0.55 $ 1.09 $ 0.99 Anti-dilutive shares: Shares 3 437,997 347,370 275,357 263,905 1 Dilutive shares related to stock options, restricted stock, PSUs and Key Employee Awards (Note 12) 2 Dilutive shares related to contingent shares issued to the former owners of BASX (Note 15) 3 Reflects three-for-two stock split effective August 16, 2023.

Related Parties (Tables)

Related Parties (Tables)	6 Months Ended
	Jun. 30, 2024
Related Party Transactions [Abstract]
Schedule of Related Party Transactions	The following is a summary of transactions and balances with related parties: Three Months Ended Six Months Ended June 30, June 30, June 30, June 30, (in thousands) Sales to affiliates $ 1,625 $ 2,619 $ 3,821 $ 3,764 Payments to affiliates 505 390 1,120 782 June 30, December 31, (in thousands) Due from affiliates $ 380 $ 994 Due to affiliates — 145 The nature of our related party transactions is as follows: • The Company sells units to an entity owned by a member of the CEO's immediate family. This entity is also one of the Company’s Representatives and as such, the Company makes payments to the entity for third party products. • The Company purchases some supplies from entities controlled by two of the Company’s board members and a member of the Company's executive management team. • The Company periodically makes part sales and makes payments to a board member related to a consulting agreement. • The Company periodically rents space partially owned by the CEO for various Company meetings. • The Company leases flight time of an aircraft partially owned by our COO and Vice President.

Segments (Tables)

Segments (Tables)	6 Months Ended
	Jun. 30, 2024
Segment Reporting [Abstract]
Schedule of Segment Reporting Information, by Segment	The following table summarizes certain financial data related to our segments. Transactions between segments are recorded based on prices negotiated between the segments. The Gross Profit amounts shown below are presented after elimination entries. Three Months Ended Six Months Ended June 30, June 30, June 30, June 30, Net Sales (in thousands) AAON Oklahoma External sales $ 225,727 $ 218,214 $ 435,867 $ 420,216 Inter-segment sales 1,311 1,205 2,982 2,699 AAON Coil Products External sales 31,373 30,081 55,620 63,493 Inter-segment sales 8,942 9,499 18,273 16,816 BASX External sales 56,466 35,662 84,178 66,201 Inter-segment sales 220 1,130 222 1,500 Eliminations (10,473) (11,834) (21,477) (21,015) Net sales $ 313,566 $ 283,957 $ 575,665 $ 549,910 Gross Profit AAON Oklahoma $ 83,870 $ 75,379 $ 162,281 $ 137,229 AAON Coil Products 13,159 7,483 21,298 14,641 BASX 16,065 11,156 21,757 19,302 Gross profit $ 113,094 $ 94,018 $ 205,336 $ 171,172 June 30, 2024 December 31, 2023 Long-lived assets (in thousands) AAON Oklahoma $ 255,382 $ 248,556 AAON Coil Products 103,524 83,169 BASX 70,414 49,996 Total long-lived assets $ 429,320 $ 381,721 Intangible assets and goodwill AAON Oklahoma $ 19,592 $ 10,282 AAON Coil Products — — BASX 137,860 139,663 Total intangible assets and goodwill $ 157,452 $ 149,945

General (Details)

General (Details) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024 USD ($) numberOfVIE	Jun. 30, 2023 USD ($)	Jun. 30, 2024 USD ($) numberOfVIE	Jun. 30, 2023 USD ($)	Mar. 31, 2024	Dec. 31, 2023 USD ($)	Mar. 31, 2023
Basis of Presentation and Significant Accounting Policies [Abstract]
Number of variable interest entities with directed activities | numberOfVIE	8		8
Percent on overall increase in wages					3.30%		3.90%
Provision for excess and obsolete inventories, net of write-offs			$ 641	$ 1,458
Intangible assets, net	$ 75,560		75,560			$ 68,053
Amortization expense	1,749	$ 901	3,455	1,803
Goodwill	$ 81,892		81,892			$ 81,892
Finite-Lived Intangible Assets [Line Items]
Provision for excess and obsolete inventories, net of write-offs			$ 641	$ 1,458
Intellectual property | Maximum
Finite-Lived Intangible Assets [Line Items]
Useful life	30 years		30 years
Intellectual property | Minimum
Finite-Lived Intangible Assets [Line Items]
Useful life	6 years		6 years
Customer relationships
Finite-Lived Intangible Assets [Line Items]
Useful life	14 years		14 years
Internal Use Software [Member] | Maximum
Finite-Lived Intangible Assets [Line Items]
Useful life	6 years		6 years
Internal Use Software [Member] | Minimum
Finite-Lived Intangible Assets [Line Items]
Useful life	1 year		1 year

General - Goodwill (Details)

General - Goodwill (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Goodwill [Roll Forward]
Balance, beginning of period	$ 81,892	$ 81,892
Additions (decreases) during the period	0	0
Balance, end of period	$ 81,892	$ 81,892

Revenue Recognition - Disaggreg

Revenue Recognition - Disaggregated Net Sales (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Disaggregation of Revenue [Line Items]
Net sales	$ 313,566	$ 283,957	$ 575,665	$ 549,910
AAON Oklahoma
Disaggregation of Revenue [Line Items]
Net sales	225,727	218,214	435,867	420,216
AAON Coil Products
Disaggregation of Revenue [Line Items]
Net sales	31,373	30,081	55,620	63,493
BasX
Disaggregation of Revenue [Line Items]
Net sales	56,466	35,662	84,178	66,201
Rooftop units
Disaggregation of Revenue [Line Items]
Net sales	203,642	196,065	394,907	376,091
Rooftop units | AAON Oklahoma
Disaggregation of Revenue [Line Items]
Net sales	203,642	196,065	394,907	376,091
Rooftop units | AAON Coil Products
Disaggregation of Revenue [Line Items]
Net sales	0	0	0	0
Rooftop units | BasX
Disaggregation of Revenue [Line Items]
Net sales	0	0	0	0
Condensing units
Disaggregation of Revenue [Line Items]
Net sales	15,433	11,390	27,266	26,668
Condensing units | AAON Oklahoma
Disaggregation of Revenue [Line Items]
Net sales	0	61	0	61
Condensing units | AAON Coil Products
Disaggregation of Revenue [Line Items]
Net sales	15,433	11,329	27,266	26,607
Condensing units | BasX
Disaggregation of Revenue [Line Items]
Net sales	0	0	0	0
Air handlers
Disaggregation of Revenue [Line Items]
Net sales	14,867	15,210	27,032	30,469
Air handlers | AAON Oklahoma
Disaggregation of Revenue [Line Items]
Net sales	0	0	0	0
Air handlers | AAON Coil Products
Disaggregation of Revenue [Line Items]
Net sales	12,496	12,610	22,474	24,831
Air handlers | BasX
Disaggregation of Revenue [Line Items]
Net sales	2,371	2,600	4,558	5,638
Outdoor mechanical rooms
Disaggregation of Revenue [Line Items]
Net sales		61		420
Outdoor mechanical rooms | AAON Oklahoma
Disaggregation of Revenue [Line Items]
Net sales		0		208
Outdoor mechanical rooms | AAON Coil Products
Disaggregation of Revenue [Line Items]
Net sales		61		212
Outdoor mechanical rooms | BasX
Disaggregation of Revenue [Line Items]
Net sales		0		0
Cleanroom systems
Disaggregation of Revenue [Line Items]
Net sales	11,227	17,086	18,540	29,708
Cleanroom systems | AAON Oklahoma
Disaggregation of Revenue [Line Items]
Net sales	0	0	0	0
Cleanroom systems | AAON Coil Products
Disaggregation of Revenue [Line Items]
Net sales	0	0	0	0
Cleanroom systems | BasX
Disaggregation of Revenue [Line Items]
Net sales	11,227	17,086	18,540	29,708
Data center cooling solutions
Disaggregation of Revenue [Line Items]
Net sales	42,833	17,671	60,712	33,593
Data center cooling solutions | AAON Oklahoma
Disaggregation of Revenue [Line Items]
Net sales	0	0	0	0
Data center cooling solutions | AAON Coil Products
Disaggregation of Revenue [Line Items]
Net sales	926	1,794	1,132	3,240
Data center cooling solutions | BasX
Disaggregation of Revenue [Line Items]
Net sales	41,907	15,877	59,580	30,353
Water-source heat pumps
Disaggregation of Revenue [Line Items]
Net sales	1,574	3,484	3,155	9,294
Water-source heat pumps | AAON Oklahoma
Disaggregation of Revenue [Line Items]
Net sales	0	398	0	3,128
Water-source heat pumps | AAON Coil Products
Disaggregation of Revenue [Line Items]
Net sales	1,574	3,086	3,155	6,166
Water-source heat pumps | BasX
Disaggregation of Revenue [Line Items]
Net sales	0	0	0	0
Part sales
Disaggregation of Revenue [Line Items]
Net sales	18,880	16,206	34,481	30,359
Part sales | AAON Oklahoma
Disaggregation of Revenue [Line Items]
Net sales	17,974	15,963	33,291	29,867
Part sales | AAON Coil Products
Disaggregation of Revenue [Line Items]
Net sales	0	0	6	1
Part sales | BasX
Disaggregation of Revenue [Line Items]
Net sales	906	243	1,184	491
Other
Disaggregation of Revenue [Line Items]
Net sales	5,110	6,784	9,572	13,308
Other | AAON Oklahoma
Disaggregation of Revenue [Line Items]
Net sales	4,111	5,727	7,669	10,861
Other | AAON Coil Products
Disaggregation of Revenue [Line Items]
Net sales	944	1,201	1,587	2,436
Other | BasX
Disaggregation of Revenue [Line Items]
Net sales	$ 55	$ (144)	$ 316	$ 11

Revenue Recognition - Additiona

Revenue Recognition - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Revenue from Contract with Customer [Abstract]
Payments to representatives	$ 10.2	$ 13	$ 21	$ 26.3

Leases - Leases by Balance Shee

Leases - Leases by Balance Sheet Classification (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Leases [Abstract]
Right of use assets	$ 16,086	$ 11,774
Lease liability, short-term	2,272	2,021
Lease liability, long-term	$ 14,335	$ 10,201

Leases - Additional Information

Leases - Additional Information (Details) - squareFoot	Jun. 30, 2024	Jan. 31, 2024	Jul. 28, 2023	Nov. 30, 2022	Oct. 31, 2022
Minimum
Lessee, Lease, Description [Line Items]
Lessee, Operating Lease, Discount Rate	1.30%
Maximum
Lessee, Lease, Description [Line Items]
Lessee, Operating Lease, Discount Rate	6.60%
MISSOURI
Lessee, Lease, Description [Line Items]
Number of square feet					86,000
OKLAHOMA
Lessee, Lease, Description [Line Items]
Number of square feet				198,000
OREGON
Lessee, Lease, Description [Line Items]
Number of square feet	104,500		72,000
Lease term			5 years
Industrial Property | OKLAHOMA
Lessee, Lease, Description [Line Items]
Number of square feet		157,550

Leases - Maturity Schedule (Det

Leases - Maturity Schedule (Details) $ in Thousands	Jun. 30, 2024 USD ($)
Lessee, Operating Lease, Liability, Payment, Due [Abstract]
2024	$ 1,612
2025	3,100
2026	3,046
2027	3,136
2028	3,130
Thereafter	$ 6,403

Accounts Receivable - Receivabl

Accounts Receivable - Receivables (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Receivables [Abstract]
Accounts receivable	$ 150,641	$ 138,431
Less:  Allowance for credit losses	(1,492)	(323)
Total, net	$ 149,149	$ 138,108

Accounts Receivable - Allowance

Accounts Receivable - Allowance (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Accounts Receivable, Allowance for Credit Loss [Roll Forward]
Balance, beginning of period	$ 435	$ 421	$ 323	$ 477
Provisions for (recoveries of) for expected credit losses, net of adjustments	1,062	(115)	1,174	(171)
Accounts receivable written off, net of recoveries	5	0	5	0
Balance, end of period	$ 1,492	$ 306	$ 1,492	$ 306

Inventories - Components (Detai

Inventories - Components (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Mar. 31, 2024	Dec. 31, 2023	Jun. 30, 2023	Mar. 31, 2023	Dec. 31, 2022
Inventory Disclosure [Abstract]
Raw materials	$ 181,403		$ 211,259
Work in process	5,190		5,523
Finished goods	3,196		2,910
Total, gross	189,789		219,692
Less: Allowance for excess and obsolete inventories	(6,801)	$ (6,741)	(6,160)	$ (5,281)	$ (4,748)	$ (4,527)
Total, net	$ 182,988		$ 213,532

Inventories - Allowance (Detail

Inventories - Allowance (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Inventory Valuation Reserves [Roll Forward]
Balance, beginning of period	$ 6,741	$ 4,748	$ 6,160	$ 4,527
Provision (recovery of) for excess and obsolete inventories	968	794	1,928	1,458
Inventories written off	(908)	(261)	(1,287)	(704)
Balance, end of period	$ 6,801	$ 5,281	$ 6,801	$ 5,281

Intangible Assets (Details)

Intangible Assets (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Finite-Lived Intangible Assets [Line Items]
Definite-lived intangible assets	$ 54,375		$ 54,375
Less:  Accumulated amortization	(13,293)		(13,293)		$ (9,838)
Total, net	60,989		60,989		53,482
Indefinite-lived intangible assets	14,571		14,571		14,571
Total intangible assets, net	75,560		75,560		68,053
Amortization expense	1,749	$ 901	3,455	$ 1,803
2024	4,861		4,861
2025	6,259		6,259
2026	4,743		4,743
2027	4,743		4,743
2028	4,652		4,652
Thereafter	29,117		29,117
Total future amortization expense	54,375		54,375
Internal-use software projects not in service	6,614		6,614
Intellectual property
Finite-Lived Intangible Assets [Line Items]
Definite-lived intangible assets	12,450		12,450		12,450
Total future amortization expense	12,450		12,450		12,450
Customer relationships
Finite-Lived Intangible Assets [Line Items]
Definite-lived intangible assets	47,547		47,547		47,547
Total future amortization expense	47,547		47,547		47,547
Capitalized internal-use software
Finite-Lived Intangible Assets [Line Items]
Definite-lived intangible assets	14,285		14,285		3,323
Total future amortization expense	$ 14,285		$ 14,285		$ 3,323

Supplemental Cash Flow Inform_3

Supplemental Cash Flow Information (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Supplemental disclosure:
Interest paid	$ 153	$ 1,506	$ 548	$ 2,627
Income taxes paid	28,359	33,471	28,670	33,643
Non-cash investing and financing activities:
Non-cash capital expenditures	5,356	1,205	3,278	1,571
Contingent shares issued (Note 15)	$ 0	$ 0	$ 6,364	$ 0

Warranties - Additional Informa

Warranties - Additional Information (Details)	6 Months Ended
	Jun. 30, 2024
Product Information [Line Items]
Product warranty accrual, minimum length	1 year
Product warranty accrual, maximum length	25 years
Parts
Product Information [Line Items]
Product warranty accrual, minimum length	18 months

Warranties - Change in Accruals

Warranties - Change in Accruals (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Movement in Standard Product Warranty Accrual [Roll Forward]
Balance, beginning of period	$ 21,349	$ 16,209	$ 20,573	$ 15,682
Payments made	(3,037)	(2,435)	(5,659)	(4,316)
Provisions	3,320	3,126	6,718	5,534
Balance, end of period	$ 21,632	$ 16,900	$ 21,632	$ 16,900

Accrued Liabilities and Other_3

Accrued Liabilities and Other Long-Term Liabilities (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Accrued Liabilities
Warranty	$ 21,632	$ 20,573
Due to representatives	19,934	14,428
Payroll	11,425	18,829
Profit sharing	6,393	7,596
Workers' compensation	545	338
Medical self-insurance	1,940	1,460
Customer prepayments	1,856	2,621
Donations, short-term	1,153	381
Accrued income taxes	0	1,170
Employee vacation time	11,042	10,315
Lease liability, short-term		2,021
Property taxes	2,008	0
Extended warranties, short-term	2,829	2,387
Other	2,470	3,389
Accrued liabilities	85,499	85,508
Other Long-Term Liabilities
Lease liability	14,335	10,201
Extended warranties	6,835	6,082
Donations and other	0	524
Total	$ 21,170	$ 16,807

Revolving Credit Facility (Deta

Revolving Credit Facility (Details)	3 Months Ended		6 Months Ended
	Jun. 30, 2024 USD ($) letterOfCredit	Jun. 30, 2023	Jun. 30, 2024 USD ($) letterOfCredit	Jun. 30, 2023	Feb. 27, 2024 USD ($)	Dec. 31, 2023 USD ($)	Apr. 25, 2023 USD ($)	May 27, 2022 USD ($)	Nov. 24, 2021 USD ($)	Oct. 24, 2019 USD ($)
Line of Credit Facility [Line Items]
Revolving credit facility, long-term	$ 85,884,000		$ 85,884,000			$ 38,328,000
Number of standby letters of credit | letterOfCredit	2		2
Ratio of total liability to net worth	0.3		0.3
Maximum ratio of total liability to net worth for compliance	3		3
Revolving Credit Facility
Line of Credit Facility [Line Items]
Credit facility maximum borrowings					$ 15,500,000		$ 23,000,000		$ 100,000,000	$ 23,000,000
Option to increase maximum borrowing capacity								$ 200,000,000
Standby letter of credit	$ 2,300,000		$ 2,300,000
Borrowings available under the revolving credit facility	$ 111,800,000		$ 111,800,000
Debt, weighted average interest rate,	6.60%	6.30%		6.20%
Revolving Credit Facility | Base Rate
Line of Credit Facility [Line Items]
Stated percentage	0.50%		0.50%
Revolving Credit Facility | SOFR
Line of Credit Facility [Line Items]
Stated percentage	1%		1%
Revolving Credit Facility | Minimum
Line of Credit Facility [Line Items]
Applicable margin	1.25%		1.25%
Commitment fee percentage			0.10%
Revolving Credit Facility | Maximum
Line of Credit Facility [Line Items]
Applicable margin	1.75%		1.75%
Commitment fee percentage			0.20%
Letter of Credit | Minimum
Line of Credit Facility [Line Items]
Commitment fee percentage			1.25%
Letter of Credit | Maximum
Line of Credit Facility [Line Items]
Commitment fee percentage			1.75%

Income Taxes - Provision (Benef

Income Taxes - Provision (Benefit) for Income Taxes (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Income Tax Disclosure [Abstract]
Current	$ 13,998	$ 13,037	$ 22,530	$ 18,472
Deferred	781	(5,359)	41	(4,438)
Income tax provision	$ 14,779	$ 7,678	$ 22,571	$ 14,034

Income Taxes - Reconciliation o

Income Taxes - Reconciliation of Federal Statutory Income Tax Rate (Details)	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Income Tax Disclosure [Abstract]
Federal statutory rate	21%	21%	21%	21%
State income taxes, net of Federal benefit	4.80%	4.60%	5%	4.40%
Excess tax benefits related to share-based compensation (Note 12)	(3.40%)	(3.80%)	(5.80%)	(6.00%)
Return to provision	0%	0%	(0.10%)	(0.10%)
Non-deductible executive compensation	1.50%	0%	1.30%	0%
Research and development credits	(1.20%)	(1.20%)	(1.20%)	(1.30%)
Change in valuation allowance (Oklahoma Investment Credit)	0%	(5.80%)	0%	(3.20%)
Other	(0.60%)	(0.40%)	(0.40%)	(0.30%)
Effective tax rate	22.10%	14.40%	19.80%	14.50%

Income Taxes - Additional Infor

Income Taxes - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Tax Credit Carryforward [Line Items]
Share-based payment arrangement, expense, tax benefit	$ 2,244	$ 2,039	$ 6,650	$ 5,825
Income tax provision, increase (decrease), stock option exercises	1,000		1,500
Income tax benefit	(14,779)	(7,678)	$ (22,571)	(14,034)
Expected effective income tax rate for the year			25.20%
Investment Tax Credit Carryforward
Tax Credit Carryforward [Line Items]
Income tax benefit		$ (3,100)		$ (3,100)
Tax credit carryforward	$ 1,100		$ 1,100

Share-Based Compensation - Addi

Share-Based Compensation - Additional Information (Details) $ in Thousands				3 Months Ended	6 Months Ended
	Aug. 16, 2023	May 24, 2016 shares	May 22, 2007 shares	Mar. 31, 2024	Jun. 30, 2024 USD ($)	Jun. 30, 2023 USD ($)	May 21, 2024 shares	May 12, 2020 shares	May 15, 2018 shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock split, conversion ratio	1.5
Stock authorized to be issued under plan (in shares) | shares		13,400,000
Total intrinsic value of options exercised during period					$ 23,800	$ 25,300
Cash received from options exercised during period					$ 15,821	$ 23,244
Award requisite service period					1 year
2007 Long-Term Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock authorized to be issued under plan (in shares) | shares		600,000	5,000,000
Exercise price of shares granted may not be less than fair market value (percentage)			100%
2016 Long-Term Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock authorized to be issued under plan (in shares) | shares		5,100,000					3,700,000	3,800,000	3,900,000
Exercise price of shares granted may not be less than fair market value (percentage)		100%
Long-Term Incentive Plan 2024
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock authorized to be issued under plan (in shares) | shares							2,700,000
Performance Award
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized pre-tax compensation cost					$ 7,400
Weighted average recognition period (in years)					1 year 9 months 18 days
Performance Award | 2016 Long-Term Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period					3 years
Performance Award | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award, percent of conversion in common stock					0%
Performance Award | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award, percent of conversion in common stock					200%
Equity Option
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized pre-tax compensation cost					$ 12,800
Weighted average recognition period (in years)					2 years 1 month 6 days
Restricted Stock | 2007 Long-Term Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized pre-tax compensation cost					$ 7,200
Weighted average recognition period (in years)					2 years
Employees
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting rights, percentage				20%	33.30%

Share-Based Compensation - Summ

Share-Based Compensation - Summary of Assumptions (Details) - USD ($)	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Performance Award
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected (annual) dividend rate	$ 0.32	$ 0.32
Expected volatility	33.99%	32.71%
Risk-free interest rate	4.31%	4.66%
Expected life	2 years 9 months 18 days	2 years 9 months 18 days
Directors and Senior Leadership Team
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected (annual) dividend rate	$ 0.32	$ 0.32
Expected volatility	37.90%	37.89%
Risk-free interest rate	4.14%	4.39%
Expected life	4 years	4 years
Employees
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected (annual) dividend rate	$ 0.32	$ 0.32
Expected volatility	33.51%	38.52%
Risk-free interest rate	4.28%	4.40%
Expected life	3 years	3 years

Share-Based Compensation - Su_2

Share-Based Compensation - Summary of Stock Options Outstanding (Details) $ / shares in Units, $ in Thousands	6 Months Ended
	Jun. 30, 2024 USD ($) $ / shares shares
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Number of shares vested and exercisable (in shares) | shares	2,451,284
Options vested and exercisable weighted average remaining contractual life	4 years 11 months 23 days
Options vested and exercisable weighted average exercise price (in dollars per share)	$ 30.42
Options vested and exercisable intrinsic value | $	$ 139,298
$8.17 - $41.37
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Range of exercise prices, lower range (in dollars per share)	$ 13.95
Range of exercise prices, upper range (in dollars per share)	$ 27.58
Number of shares vested and exercisable (in shares) | shares	1,447,345
Options vested and exercisable weighted average remaining contractual life	3 years 10 months 9 days
Options vested and exercisable weighted average exercise price (in dollars per share)	$ 24.89
Options vested and exercisable intrinsic value | $	$ 90,236
$42.42 - $65.24
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Range of exercise prices, lower range (in dollars per share)	$ 28.28
Range of exercise prices, upper range (in dollars per share)	$ 37.07
Number of shares vested and exercisable (in shares) | shares	653,631
Options vested and exercisable weighted average remaining contractual life	6 years 3 months
Options vested and exercisable weighted average exercise price (in dollars per share)	$ 31.56
Options vested and exercisable intrinsic value | $	$ 36,404
$65.29 - $79.81
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Range of exercise prices, lower range (in dollars per share)	$ 37.09
Range of exercise prices, upper range (in dollars per share)	$ 94.48
Number of shares vested and exercisable (in shares) | shares	350,308
Options vested and exercisable weighted average remaining contractual life	7 years 2 months 15 days
Options vested and exercisable weighted average exercise price (in dollars per share)	$ 51.11
Options vested and exercisable intrinsic value | $	$ 12,658

Share-Based Compensation - Su_3

Share-Based Compensation - Summary of Stock Option Activity (Details)	6 Months Ended
	Jun. 30, 2024 $ / shares shares
Shares [Roll Forward]
Outstanding, beginning of period (in shares) | shares	3,619,585
Granted (in shares) | shares	405,124
Exercised (in shares) | shares	(476,686)
Forfeited or Expired (in shares) | shares	(26,288)
Outstanding, end of period (in shares) | shares	3,521,735
Exercisable, end of period (in shares) | shares	2,451,284
Weighted Average Exercise Price [Roll Forward]
Outstanding, beginning of period (weighted average exercise price) | $ / shares	$ 33.09
Granted (weighted average exercise price) | $ / shares	79.56
Exercised (weighted average exercise price) | $ / shares	33.18
Forfeited or Expired (weighted average exercise price) | $ / shares	56.65
Outstanding, end of period (weighted average exercise price) | $ / shares	38.25
Exercisable, end of period (weighted average exercise price) | $ / shares	$ 30.42

Share-Based Compensation - Su_4

Share-Based Compensation - Summary of Unvested Awards (Details) - $ / shares	3 Months Ended	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2024
Restricted Stock
Shares [Roll Forward]
Unvested, beginning of period (in shares)		187,084
Granted (in shares)		64,368
Vested (in shares)		(93,572)
Forfeited (in shares)		(2,704)
Unvested, end of period (in shares)	155,176	155,176
Weighted Average Grant Date Fair Value [Roll Forward]
Unvested, beginning of period (in dollars per share)		$ 44.07
Granted (in dollars per share)		78.13
Vested (in dollars per share)		40.63
Forfeited (in dollars per share)		56.01
Unvested, end of period (in dollars per share)	$ 60.07	$ 60.07
Performance Award
Shares [Roll Forward]
Unvested, beginning of period (in shares)		152,112
Granted (in shares)		47,599
Additional target payout (in shares)	2,059
Vested (in shares)		(21,919)
Forfeited (in shares)		(2,362)
Unvested, end of period (in shares)	177,489	177,489
Weighted Average Grant Date Fair Value [Roll Forward]
Unvested, beginning of period (in dollars per share)		$ 54.88
Granted (in dollars per share)		106.24
Additional target payout (in dollars per share)	$ 58.53
Vested (in dollars per share)		58.53
Forfeited (in dollars per share)		58.53
Unvested, end of period (in dollars per share)	$ 68.20	$ 68.20
Performance Award | Cliff Vesting December 31, 2023
Shares [Roll Forward]
Vested (in shares)		(71,760)
Performance Award | Cliff Vesting December 31, 2024
Shares [Roll Forward]
Vested (in shares)		(58,130)
Performance Award | Cliff Vesting December 31, 2025
Shares [Roll Forward]
Vested (in shares)		(47,599)
Key Employee Awards
Shares [Roll Forward]
Unvested, beginning of period (in shares)		39,899
Granted (in shares)		0
Vested (in shares)		(39,899)
Forfeited (in shares)		0
Unvested, end of period (in shares)	0	0
Weighted Average Grant Date Fair Value [Roll Forward]
Unvested, beginning of period (in dollars per share)		$ 53.45
Granted (in dollars per share)		0
Vested (in dollars per share)		53.45
Forfeited (in dollars per share)		0
Unvested, end of period (in dollars per share)	$ 0	$ 0

Share-Based Compensation - Su_5

Share-Based Compensation - Summary of Unvested Restricted Stock Awards (Details) - Restricted Stock	6 Months Ended
	Jun. 30, 2024 $ / shares shares
Shares [Roll Forward]
Unvested, beginning of period (in shares) | shares	187,084
Granted (in shares) | shares	64,368
Vested (in shares) | shares	(93,572)
Forfeited (in shares) | shares	(2,704)
Unvested, end of period (in shares) | shares	155,176
Weighted Average Grant Date Fair Value [Roll Forward]
Unvested, beginning of period (in dollars per share) | $ / shares	$ 44.07
Granted (in dollars per share) | $ / shares	78.13
Vested (in dollars per share) | $ / shares	40.63
Forfeited (in dollars per share) | $ / shares	56.01
Unvested, end of period (in dollars per share) | $ / shares	$ 60.07

Share-Based Compensation - Su_6

Share-Based Compensation - Summary of Grant Date Fair Value of Awards (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Grant date fair value of awards during the period:
Options	$ 412	$ 445	$ 9,120	$ 5,118
Performance Awards	96	1,666	5,057	4,907
Restricted stock	837	1,244	5,029	4,150
Total	1,345	3,355	19,206	14,175
Share-based compensation expense:
Options	2,046	2,311	4,253	4,376
PSUs	1,227	716	1,851	1,083
Restricted stock	1,221	1,024	2,347	1,850
Key Employee Awards	0	253	0	514
Total	4,494	4,304	8,451	7,823
Income tax benefit (deficiency) related to share-based compensation:
Options	2,081	1,840	5,228	5,161
Employee Service Share Based Compensation Tax Benefit From Compensation Expense, Performance Awards	169	0
Restricted stock	163	199	971	664
Employee Service Share Based Compensation Tax Benefit From Compensation Expense, Key Employee Awards	282	0
Total	$ 2,244	$ 2,039	$ 6,650	$ 5,825

Employee Benefits (Details)

Employee Benefits (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Defined Benefit Plan Disclosure [Line Items]
Defined contribution employee automatic contribution, percent			6%
Administrative expense			$ 0	$ 0
Contributions, net of forfeitures, made to the defined contribution plan	$ 4,366,000	$ 3,408,000	$ 10,076,000	8,667,000
Profit sharing, percent of pre-tax profit paid to eligible employees on quarterly basis			8.50%
Profit sharing bonus plan and employee incentive plan expense	6,477,000	5,952,000	$ 11,077,000	10,818,000
Medical premium payments	3,924,000	4,132,000	7,295,000	6,800,000
Health saving account contributions	$ 2,116,000	$ 1,198,000	$ 4,282,000	$ 2,258,000
BasX
Defined Benefit Plan Disclosure [Line Items]
Profit sharing, percent of pre-tax profit paid to eligible employees on quarterly basis			5%
Effective January 1, 2016
Defined Benefit Plan Disclosure [Line Items]
Percent of match			175%
Defined contribution employer, maximum match percent			6%

Earnings Per Share (Details)

Earnings Per Share (Details) $ / shares in Units, $ in Thousands			3 Months Ended		6 Months Ended
		Aug. 16, 2023	Jun. 30, 2024 USD ($) $ / shares shares	Jun. 30, 2023 USD ($) $ / shares shares	Jun. 30, 2024 USD ($) $ / shares shares		Jun. 30, 2023 USD ($) $ / shares shares
Earnings Per Share [Abstract]
Net income | $			$ 52,228	$ 45,682	$ 91,244	[1]	$ 82,496
Basic weighted average shares (in shares)	[2]		81,791,792	81,439,691	81,339,153		81,263,523
Effect of dilutive stock options and restricted stock (in shares)			1,994,430	2,029,890	2,093,715		2,002,200
Effect of dilutive shares related to contingent consideration (in shares)			0	0	94,849		212,775
Diluted weighted average shares (in shares)	[2]		83,786,222	83,469,581	83,527,717		83,478,498
Basic (in dollars per share) | $ / shares	[2]		$ 0.64	$ 0.56	$ 1.12		$ 1.02
Diluted (in dollars per share) | $ / shares	[2]		$ 0.62	$ 0.55	$ 1.09		$ 0.99
Anti-dilutive shares (in shares)			437,997	347,370	275,357		263,905
Stock split, conversion ratio		1.5
[1] 1 Reflects three-for-two stock split effective August 16, 2023 1 Reflects three-for-two stock split effective August 16, 2023.

Stockholders' Equity - Narrativ

Stockholders' Equity - Narrative (Details)										3 Months Ended				6 Months Ended
		May 24, 2024 $ / shares	Mar. 05, 2024 $ / shares	Nov. 10, 2023 $ / shares	Aug. 18, 2023 $ / shares	Aug. 16, 2023 USD ($) shares	May 18, 2023 $ / shares	Mar. 01, 2023 $ / shares	Dec. 10, 2021 USD ($) $ / shares shares	Jun. 30, 2024 USD ($) $ / shares shares		Jun. 30, 2023 USD ($) $ / shares		Jun. 30, 2024 USD ($) $ / shares shares		Jun. 30, 2023 USD ($) $ / shares shares		Jun. 04, 2024 USD ($)	May 21, 2024 shares	May 20, 2024 shares	Mar. 31, 2024 USD ($)		Feb. 27, 2024 USD ($)	Dec. 31, 2023 USD ($) shares		Mar. 31, 2023 USD ($)		Dec. 31, 2022 USD ($)	Nov. 03, 2022 USD ($)
Schedule of Shareholders' Equity [Line Items]
Stock repurchase program, authorized amount																		$ 50,000,000					$ 50,000,000						$ 50,000,000
Stock repurchased during period (in shares) | shares														1,396,137		19,624
Aggregate price of shares repurchased since inception														$ 103,527,000		$ 1,162,000
Average price of shares repurchased since inception (per share) | $ / shares														$ 74.15		$ 59.21
Cash dividends declared per common share (in dollars per share) | $ / shares	[1]									$ 0.08		$ 0.08		$ 0.16		$ 0.16
Annualized dividends paid per common share (in dollars per share) | $ / shares		$ 0.32	$ 0.32	$ 0.32	$ 0.32		$ 0.32	$ 0.32
Stock split, conversion ratio						1.5
Stock split, additional shares issued (in shares) | shares						1
Stock split, original number of shares held (in shares) | shares						2
Cash paid in lieu of fractional shares						$ 500,000
Total stockholders' equity										$ 740,498,000		$ 660,111,000		$ 740,498,000		$ 660,111,000					$ 784,808,000			$ 735,224,000		$ 609,414,000		$ 560,714,000
Contingent shares issued (Note 15)										0		0		6,364,000		0
Stock split, common stock value reclass										324,000				324,000										326,000
Stock split, retained earnings reclass										$ 691,000,000				$ 691,000,000										$ 612,835,000
Common stock, shares authorized (in shares) | shares										100,000,000				100,000,000					200,000,000	100,000,000				100,000,000
Common Stock
Schedule of Shareholders' Equity [Line Items]
Total stockholders' equity										$ 324,000	[2]	326,000	[2]	$ 324,000	[2]	326,000	[2]				329,000	[2]		$ 326,000	[2]	325,000	[2]	322,000
Contingent shares issued (in shares) | shares														243,000
Contingent shares issued (Note 15)														$ 1,000
Common Stock | Revision of Prior Period, Adjustment
Schedule of Shareholders' Equity [Line Items]
Total stockholders' equity																					(100,000)
Retained Earnings
Schedule of Shareholders' Equity [Line Items]
Total stockholders' equity										$ 691,000,000	[2]	$ 531,149,000	[2]	691,000,000	[2]	$ 531,149,000	[2]				$ 645,295,000	[2]		612,835,000	[2]	$ 492,012,000	[2]	$ 461,657,000
Retained Earnings | Revision of Prior Period, Adjustment
Schedule of Shareholders' Equity [Line Items]
Total stockholders' equity																								$ 100,000
BasX, LLC
Schedule of Shareholders' Equity [Line Items]
Contingent Consideration									$ 78,000,000
Equity interest issued (in shares) | shares									1,560,000
Contingent shares issued (in shares) | shares																580,000
Contingent shares issued (Note 15)														$ 6,400,000
Equity interests issuable (in dollars per share) | $ / shares									$ 0.004
BasX, LLC | Common Stock
Schedule of Shareholders' Equity [Line Items]
Contingent shares issued (in shares) | shares														240,000
Dividend Declared
Schedule of Shareholders' Equity [Line Items]
Cash dividends declared per common share (in dollars per share) | $ / shares		$ 0.08	$ 0.08	$ 0.08	$ 0.08		$ 0.08	$ 0.08
Open market
Schedule of Shareholders' Equity [Line Items]
Stock repurchased during period (in shares) | shares														1,353,564		0
Aggregate price of shares repurchased since inception														$ 100,034,000		$ 0
Average price of shares repurchased since inception (per share) | $ / shares														$ 73.90		$ 0
Employees
Schedule of Shareholders' Equity [Line Items]
Stock repurchased during period (in shares) | shares														42,573		19,624
Aggregate price of shares repurchased since inception														$ 3,493,000		$ 1,162,000
Average price of shares repurchased since inception (per share) | $ / shares														$ 82.05		$ 59.21
[1] 1 Reflects three-for-two stock split effective August 16, 2023. 1 Reflects three-for-two stock split effective August 16, 2023

New Market Tax Credit (Details)

New Market Tax Credit (Details) - USD ($)	Feb. 27, 2024	Apr. 25, 2023	Oct. 24, 2019	Nov. 24, 2021
Subsidiary
Line of Credit Facility [Line Items]
Due to subsidiary	$ 16,000,000	$ 23,800,000	$ 22,500,000
Investor
Line of Credit Facility [Line Items]
Loans receivable	$ 11,000,000	$ 16,700,000	$ 15,900,000
Loans receivable, term	25 years	25 years	25 years
Loans receivable, interest rate	1%	1%	1%
Proceeds from financing obligation, net of issuance costs	$ 11,000,000	$ 16,700,000	$ 15,900,000
Interest from counterparty	3,800,000	5,700,000	6,500,000
Debt issuance costs	$ 400,000	$ 400,000	$ 300,000
Loans and Leases Receivable, Gross, Compliance Period	7 years	7 years	7 years
Revolving Credit Facility
Line of Credit Facility [Line Items]
Credit facility maximum borrowings	$ 15,500,000	$ 23,000,000	$ 23,000,000	$ 100,000,000

Commitments and Contingencies (

Commitments and Contingencies (Details) - USD ($) $ in Millions			3 Months Ended		6 Months Ended
	Sep. 28, 2023	Jan. 24, 2022	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Commitments and Contingencies Disclosure [Abstract]
Damages sought		$ 48.6
Payments			$ 3	$ 2.7	$ 6.6	$ 5.1
Litigation Settlement, Amount Awarded to Other Party	$ 7.5
Contractual Obligation, to be Paid, Year One			5.3		5.3
Contractual Obligation, to be Paid, Year Two			9.1		9.1
Contractual Obligation, to be Paid, Year Three			10.5		10.5
Contractual Obligation, to be Paid, Year Four			$ 11.2		$ 11.2

Related Parties (Details)

Related Parties (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Related Party Transaction [Line Items]
Net sales	$ 313,566	$ 283,957	$ 575,665	$ 549,910
Payments to affiliates	505	390	1,120	782
Due from affiliates	149,149		149,149		$ 138,108
Due to affiliates	28,958		28,958		27,484
Affiliate
Related Party Transaction [Line Items]
Net sales	1,625	$ 2,619	3,821	$ 3,764
Due from affiliates	380		380		994
Due to affiliates	$ 0		$ 0		$ 145

Segments (Details)

Segments (Details) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024 USD ($)	Jun. 30, 2023 USD ($)	Jun. 30, 2024 USD ($) segment	Jun. 30, 2023 USD ($)	Dec. 31, 2023 USD ($)
Segment Reporting Information [Line Items]
Number of reportable segments | segment			3
Net Sales	$ 313,566	$ 283,957	$ 575,665	$ 549,910
Gross Profit	113,094	94,018	205,336	171,172
Long-lived assets	429,320		429,320		$ 381,721
Goodwill	157,452		157,452		149,945
AAON Oklahoma
Segment Reporting Information [Line Items]
Net Sales	225,727	218,214	435,867	420,216
AAON Coil Products
Segment Reporting Information [Line Items]
Net Sales	31,373	30,081	55,620	63,493
BasX
Segment Reporting Information [Line Items]
Net Sales	56,466	35,662	84,178	66,201
Operating Segments | AAON Oklahoma
Segment Reporting Information [Line Items]
Gross Profit	83,870	75,379	162,281	137,229
Long-lived assets	255,382		255,382		248,556
Goodwill	19,592		19,592		10,282
Operating Segments | AAON Coil Products
Segment Reporting Information [Line Items]
Gross Profit	13,159	7,483	21,298	14,641
Long-lived assets	103,524		103,524		83,169
Goodwill	0		0		0
Operating Segments | BasX
Segment Reporting Information [Line Items]
Net Sales	56,466	35,662	84,178	66,201
Gross Profit	16,065	11,156	21,757	19,302
Long-lived assets	70,414		70,414		49,996
Goodwill	137,860		137,860		$ 139,663
Inter-segment | AAON Oklahoma
Segment Reporting Information [Line Items]
Net Sales	1,311	1,205	2,982	2,699
Inter-segment | AAON Coil Products
Segment Reporting Information [Line Items]
Net Sales	8,942	9,499	18,273	16,816
Inter-segment | BasX
Segment Reporting Information [Line Items]
Net Sales	220	1,130	222	1,500
Segment Reconciling Items | AAON Oklahoma
Segment Reporting Information [Line Items]
Net Sales	225,727	218,214	435,867	420,216
Segment Reconciling Items | AAON Coil Products
Segment Reporting Information [Line Items]
Net Sales	31,373	30,081	55,620	63,493
Consolidation, Eliminations
Segment Reporting Information [Line Items]
Net Sales	$ (10,473)	$ (11,834)	$ (21,477)	$ (21,015)