XML 50 R40.htm IDEA: XBRL DOCUMENT v3.22.2
Employee Benefits (Tables)
6 Months Ended
Jun. 30, 2022
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 EndedSix Months Ended
 June 30,
2022
June 30,
2021
June 30,
2022
June 30,
2021
(in thousands)
Contributions, net of forfeitures, made to the defined contribution plan$3,273 $2,118 $6,579 $4,398 
Schedule of Profit Sharing Bonus Plan
We maintain a discretionary profit sharing bonus plan under which approximately 10% of pre-tax profit from consolidated AAON Oklahoma and AAON Coil Products is paid to eligible employees on a quarterly basis in order to reward employee productivity. Eligible employees are regular full-time employees of AAON Oklahoma or AAON Coil Products who are actively employed and working on the first and last days of the calendar quarter and who were employed full-time for at least three full months prior to the beginning of the calendar quarter, excluding the Company's senior leadership team.
Three Months EndedSix Months Ended
 June 30,
2022
June 30,
2021
June 30,
2022
June 30,
2021
(in thousands)
Profit sharing bonus plan expense$2,146 $2,919 $4,815 $5,051 
Schedule of Employee Medical Plan
We self-insure for our employees' health insurance. 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 Plan. We estimate our self-insurance liabilities using an analysis provided by our claims administrator and our historical claims experience. In addition, the Company matches 175% of a participating employee's allowed contributions to a qualified health saving account to assist employees with our health insurance plan deductibles.
Three Months EndedSix Months Ended
 June 30,
2022
June 30,
2021
June 30,
2022
June 30,
2021
(in thousands)
Medical claim payments$2,043 $2,033 $3,989 $3,846 
Health saving account contributions964 876 1,903 1,733