$LECO
LINCOLN ELECTRIC HOLDINGS INC

2023 Q1 Form 10-K Financial Statement

#000005952723000004 Filed on February 21, 2023

View on sec.gov

Income Statement

Concept 2023 Q1 2022 Q4 2022
Revenue $1.039B $930.9M $3.761B
YoY Change 12.31% 10.27% 16.3%
Cost Of Revenue $684.0M $623.0M $2.480B
YoY Change 14.83% 9.14% 14.54%
Gross Profit $355.4M $308.0M $1.281B
YoY Change 7.76% 12.62% 19.85%
Gross Profit Margin 34.19% 33.08% 34.05%
Selling, General & Admin $190.1M $153.5M $656.6M
YoY Change 14.06% 3.71% 9.97%
% of Gross Profit 53.5% 49.85% 51.27%
Research & Development $63.21M
YoY Change 12.93%
% of Gross Profit 4.94%
Depreciation & Amortization $21.30M $19.05M $78.06M
YoY Change 7.06% -7.47% -3.8%
% of Gross Profit 5.99% 6.19% 6.09%
Operating Expenses $190.1M $153.5M $719.8M
YoY Change 14.06% 3.71% 10.22%
Operating Profit $164.4M $154.4M $612.3M
YoY Change 1.96% 23.14% 32.64%
Interest Expense $14.06M -$16.17M $31.11M
YoY Change 113.8% 100.04% 30.81%
% of Operating Profit 8.55% -10.47% 5.08%
Other Income/Expense, Net $4.209M $2.802M $9.991M
YoY Change -9.17% -18.74% -108.73%
Pretax Income $155.4M $135.8M $592.8M
YoY Change -2.67% 89.69% 82.41%
Income Tax $33.41M $26.61M $120.6M
% Of Pretax Income 21.51% 19.6% 20.34%
Net Earnings $121.9M $109.1M $472.2M
YoY Change -3.25% 46.65% 70.81%
Net Earnings / Revenue 11.73% 11.72% 12.56%
Basic Earnings Per Share $2.12 $8.14
Diluted Earnings Per Share $2.09 $1.86 $8.04
COMMON SHARES
Basic Shares Outstanding 57.58M 58.03M
Diluted Shares Outstanding 58.42M 58.75M

Balance Sheet

Concept 2023 Q1 2022 Q4 2022
SHORT-TERM ASSETS
Cash & Short-Term Investments $198.8M $197.2M $197.2M
YoY Change 28.78% 2.17% 2.17%
Cash & Equivalents $198.8M $197.2M $197.2M
Short-Term Investments
Other Short-Term Assets $173.6M $153.7M $153.7M
YoY Change 10.27% 20.38% 20.38%
Inventory $664.6M $665.5M $665.5M
Prepaid Expenses
Receivables $573.5M $541.5M $541.5M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $1.610B $1.558B $1.558B
YoY Change 12.79% 20.8% 20.8%
LONG-TERM ASSETS
Property, Plant & Equipment $553.4M $544.9M $589.7M
YoY Change 8.11% 6.47% 5.35%
Goodwill $679.4M $665.3M
YoY Change 55.42% 54.65%
Intangibles $202.7M
YoY Change 35.69%
Long-Term Investments $5.101M
YoY Change -1.54%
Other Assets $409.9M $187.1M $165.1M
YoY Change 14.02% -48.14% 1.02%
Total Long-Term Assets $1.643B $1.623B $1.623B
YoY Change 25.54% 24.57% 24.57%
TOTAL ASSETS
Total Short-Term Assets $1.610B $1.558B $1.558B
Total Long-Term Assets $1.643B $1.623B $1.623B
Total Assets $3.253B $3.181B $3.181B
YoY Change 18.89% 22.69% 22.69%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $361.2M $352.1M $352.1M
YoY Change -2.21% 6.62% 6.62%
Accrued Expenses $120.7M $119.7M $119.7M
YoY Change 0.41% 0.81% 0.81%
Deferred Revenue
YoY Change
Short-Term Debt $49.34M $82.44M $82.44M
YoY Change -67.23% 58.66% 58.66%
Long-Term Debt Due $11.04M $11.04M
YoY Change 1341.12% 1341.12%
Total Short-Term Liabilities $835.9M $852.9M $852.9M
YoY Change -9.89% 12.83% 12.83%
LONG-TERM LIABILITIES
Long-Term Debt $1.111B $1.110B $1.110B
YoY Change 55.33% 54.85% 54.85%
Other Long-Term Liabilities $181.4M $166.2M $166.2M
YoY Change -21.34% -34.93% -16.36%
Total Long-Term Liabilities $1.292B $1.277B $1.277B
YoY Change 36.63% 31.27% 39.4%
TOTAL LIABILITIES
Total Short-Term Liabilities $835.9M $852.9M $852.9M
Total Long-Term Liabilities $1.292B $1.277B $1.277B
Total Liabilities $2.128B $2.147B $2.146B
YoY Change 13.6% 24.19% 24.2%
SHAREHOLDERS EQUITY
Retained Earnings $3.388B $3.307B
YoY Change 10.57% 11.32%
Common Stock $507.9M $491.7M
YoY Change 7.58% 6.63%
Preferred Stock
YoY Change
Treasury Stock (at cost) $2.489B
YoY Change 7.74%
Treasury Stock Shares $40.96M
Shareholders Equity $1.125B $1.034B $1.034B
YoY Change
Total Liabilities & Shareholders Equity $3.253B $3.181B $3.181B
YoY Change 18.89% 22.69% 22.69%

Cashflow Statement

Concept 2023 Q1 2022 Q4 2022
OPERATING ACTIVITIES
Net Income $121.9M $109.1M $472.2M
YoY Change -3.25% 46.65% 70.81%
Depreciation, Depletion And Amortization $21.30M $19.05M $78.06M
YoY Change 7.06% -7.47% -3.8%
Cash From Operating Activities $123.9M $111.8M $383.4M
YoY Change 187.61% 1.7% 5.02%
INVESTING ACTIVITIES
Capital Expenditures $18.79M $19.58M $71.88M
YoY Change -200.62% -221.7% -214.96%
Acquisitions $0.00 $436.3M
YoY Change -100.0% 179.49%
Other Investing Activities $2.738M -$412.9M -$159.0K
YoY Change -7698.97% -97.55%
Cash From Investing Activities -$16.05M -$432.4M -$504.7M
YoY Change -59.99% 3957.37% 145.76%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $181.3M
YoY Change 10.19%
Debt Paid & Issued, Net $111.0K $0.00
YoY Change
Cash From Financing Activities -111.3M 371.2M 133.7M
YoY Change 174.2% -663.82% -160.25%
NET CHANGE
Cash From Operating Activities 123.9M 111.8M 383.4M
Cash From Investing Activities -16.05M -432.4M -504.7M
Cash From Financing Activities -111.3M 371.2M 133.7M
Net Change In Cash 1.653M 50.52M 4.192M
YoY Change -104.28% 51.02% -106.52%
FREE CASH FLOW
Cash From Operating Activities $123.9M $111.8M $383.4M
Capital Expenditures $18.79M $19.58M $71.88M
Free Cash Flow $105.1M $92.22M $311.5M
YoY Change 70.24% -26.83% -27.15%

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CY2022 us-gaap Use Of Estimates
UseOfEstimates
<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-weight:bold;margin:0pt 0pt 12pt 0pt;">Estimates</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 12pt 0pt;">The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions in certain circumstances that affect the amounts reported in the accompanying consolidated financial statements and notes. Actual results could differ from these estimates.</p>
CY2021Q4 us-gaap Percentage Of Lifo Inventory
PercentageOfLIFOInventory
0.36
CY2022 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
3761211000
CY2021 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
3234180000
CY2020 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
2655400000
CY2022Q4 us-gaap Unbilled Contracts Receivable
UnbilledContractsReceivable
35252000
CY2021Q4 us-gaap Unbilled Contracts Receivable
UnbilledContractsReceivable
25300000
CY2022 us-gaap Net Income Loss
NetIncomeLoss
472224000
CY2021 us-gaap Net Income Loss
NetIncomeLoss
276466000
CY2020 us-gaap Net Income Loss
NetIncomeLoss
206115000
CY2022 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
58030000
CY2021 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
59309000
CY2020 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
59633000
CY2022 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
719000
CY2021 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
753000
CY2020 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
615000
CY2022 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
58749000
CY2021 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
60062000
CY2020 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
60248000
CY2022 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
8.14
CY2021 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
4.66
CY2020 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
3.46
CY2022 us-gaap Number Of Operating Segments
NumberOfOperatingSegments
3
CY2022 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
8.04
CY2021 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
4.60
CY2020 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
3.42
CY2022 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
127358
CY2022Q4 us-gaap Percentage Of Lifo Inventory
PercentageOfLIFOInventory
0.38
CY2020Q4 us-gaap Goodwill
Goodwill
335593000
CY2021 leco Goodwill Additions And Adjustments
GoodwillAdditionsAndAdjustments
103836000
CY2021 us-gaap Goodwill Foreign Currency Translation Gain Loss
GoodwillForeignCurrencyTranslationGainLoss
-9267000
CY2021Q4 us-gaap Goodwill
Goodwill
430162000
CY2022 leco Goodwill Additions And Adjustments
GoodwillAdditionsAndAdjustments
246746000
CY2022 us-gaap Goodwill Foreign Currency Translation Gain Loss
GoodwillForeignCurrencyTranslationGainLoss
-11651000
CY2022Q4 us-gaap Goodwill
Goodwill
665257000
CY2022Q4 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
399662000
CY2022Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
212919000
CY2021Q4 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
335346000
CY2021Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
201781000
CY2022 us-gaap Finitelived Intangible Assets Acquired1
FinitelivedIntangibleAssetsAcquired1
78674000
CY2022 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
21908000
CY2021 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
21155000
CY2020 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
20363000
CY2022 us-gaap Impairment Of Intangible Assets Excluding Goodwill
ImpairmentOfIntangibleAssetsExcludingGoodwill
1018000
CY2020 us-gaap Impairment Of Intangible Assets Excluding Goodwill
ImpairmentOfIntangibleAssetsExcludingGoodwill
45468000
CY2022Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
25327000
CY2022Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
23728000
CY2022Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
22823000
CY2022Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
21372000
CY2022Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseYearFive
19302000
CY2020Q4 us-gaap Percentage Of Lifo Inventory
PercentageOfLIFOInventory
0.35
CY2022 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
3761211000
CY2022 us-gaap Revenue From Related Parties
RevenueFromRelatedParties
0
CY2022 us-gaap Revenues
Revenues
3761211000
CY2022 leco Income Loss Before Interest And Income Taxes Adjusted
IncomeLossBeforeInterestAndIncomeTaxesAdjusted
636951000
CY2022 leco Special Items Charge Gain
SpecialItemsChargeGain
14624000
CY2022 us-gaap Income Loss From Continuing Operations Before Interest Expense Interest Income Income Taxes Extraordinary Items Noncontrolling Interests Net
IncomeLossFromContinuingOperationsBeforeInterestExpenseInterestIncomeIncomeTaxesExtraordinaryItemsNoncontrollingInterestsNet
622327000
CY2022 us-gaap Investment Income Interest
InvestmentIncomeInterest
1607000
CY2022 us-gaap Interest Expense
InterestExpense
31107000
CY2022 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
592827000
CY2022Q4 us-gaap Assets
Assets
3180546000
CY2022Q4 us-gaap Equity Method Investments
EquityMethodInvestments
5101000
CY2022 us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
71883000
CY2022 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
78059000
CY2021 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
3234180000
CY2021 us-gaap Revenue From Related Parties
RevenueFromRelatedParties
0
CY2021 us-gaap Revenues
Revenues
3234180000
CY2021 leco Income Loss Before Interest And Income Taxes Adjusted
IncomeLossBeforeInterestAndIncomeTaxesAdjusted
491268000
CY2021 leco Special Items Charge Gain
SpecialItemsChargeGain
144056000
CY2021 us-gaap Income Loss From Continuing Operations Before Interest Expense Interest Income Income Taxes Extraordinary Items Noncontrolling Interests Net
IncomeLossFromContinuingOperationsBeforeInterestExpenseInterestIncomeIncomeTaxesExtraordinaryItemsNoncontrollingInterestsNet
347212000
CY2021 us-gaap Investment Income Interest
InvestmentIncomeInterest
1567000
CY2021 us-gaap Interest Expense
InterestExpense
23781000
CY2021 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
324998000
CY2021Q4 us-gaap Assets
Assets
2592307000
CY2021Q4 us-gaap Equity Method Investments
EquityMethodInvestments
5181000
CY2021 us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
62531000
CY2021 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
81146000
CY2020 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
2655400000
CY2020 us-gaap Revenue From Related Parties
RevenueFromRelatedParties
0
CY2020 us-gaap Revenues
Revenues
2655400000
CY2020 leco Income Loss Before Interest And Income Taxes Adjusted
IncomeLossBeforeInterestAndIncomeTaxesAdjusted
340406000
CY2020 leco Special Items Charge Gain
SpecialItemsChargeGain
54393000
CY2020 us-gaap Income Loss From Continuing Operations Before Interest Expense Interest Income Income Taxes Extraordinary Items Noncontrolling Interests Net
IncomeLossFromContinuingOperationsBeforeInterestExpenseInterestIncomeIncomeTaxesExtraordinaryItemsNoncontrollingInterestsNet
286013000
CY2020 us-gaap Investment Income Interest
InvestmentIncomeInterest
1986000
CY2020 us-gaap Interest Expense
InterestExpense
23959000
CY2020 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
264040000
CY2020Q4 us-gaap Assets
Assets
2314453000
CY2020Q4 us-gaap Equity Method Investments
EquityMethodInvestments
4682000
CY2020 us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
59201000
CY2020 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
80492000
CY2022 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
3761211000
CY2021 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
3234180000
CY2020 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
2655400000
CY2022Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
544871000
CY2022Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
544871000
CY2021Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
511744000
CY2021Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
511744000
CY2020Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
522092000
CY2020Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
522092000
CY2020Q4 us-gaap Restructuring Reserve
RestructuringReserve
13622000
CY2021 us-gaap Payments For Restructuring
PaymentsForRestructuring
21513000
CY2021 us-gaap Restructuring Charges
RestructuringCharges
10881000
CY2021Q4 us-gaap Restructuring Reserve
RestructuringReserve
2990000
CY2022 us-gaap Payments For Restructuring
PaymentsForRestructuring
4471000
CY2022 us-gaap Restructuring Charges
RestructuringCharges
3688000
CY2022Q4 us-gaap Restructuring Reserve
RestructuringReserve
2207000
CY2022 us-gaap Translation Adjustment For Net Investment Hedge Increase Decrease Net Of Tax
TranslationAdjustmentForNetInvestmentHedgeIncreaseDecreaseNetOfTax
9440000
CY2022Q4 us-gaap Long Term Debt
LongTermDebt
1121435000
CY2021Q4 us-gaap Long Term Debt
LongTermDebt
717855000
CY2022Q4 us-gaap Long Term Debt Current
LongTermDebtCurrent
11039000
CY2021Q4 us-gaap Long Term Debt Current
LongTermDebtCurrent
766000
CY2022Q4 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
1110396000
CY2021Q4 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
717089000
CY2022Q4 us-gaap Short Term Debt Weighted Average Interest Rate
ShortTermDebtWeightedAverageInterestRate
0.040
CY2021Q4 us-gaap Short Term Debt Weighted Average Interest Rate
ShortTermDebtWeightedAverageInterestRate
0.018
CY2022Q4 us-gaap Short Term Bank Loans And Notes Payable
ShortTermBankLoansAndNotesPayable
82444000
CY2021Q4 us-gaap Short Term Bank Loans And Notes Payable
ShortTermBankLoansAndNotesPayable
51964000
CY2022Q4 us-gaap Long Term Debt Current
LongTermDebtCurrent
11039000
CY2021Q4 us-gaap Long Term Debt Current
LongTermDebtCurrent
766000
CY2022Q4 us-gaap Debt Current
DebtCurrent
93483000
CY2021Q4 us-gaap Debt Current
DebtCurrent
52730000
CY2022Q4 us-gaap Debt Longterm And Shortterm Combined Amount
DebtLongtermAndShorttermCombinedAmount
1203879000
CY2021Q4 us-gaap Debt Longterm And Shortterm Combined Amount
DebtLongtermAndShorttermCombinedAmount
769819000
CY2022Q4 us-gaap Long Term Debt Fair Value
LongTermDebtFairValue
1009020000
CY2021Q4 us-gaap Long Term Debt Fair Value
LongTermDebtFairValue
776655000
CY2022Q4 us-gaap Line Of Credit
LineOfCredit
1121435000
CY2021Q4 us-gaap Line Of Credit
LineOfCredit
717855000
CY2022Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Next Twelve Months
LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths
93483000
CY2022Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
5000
CY2022Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
507292000
CY2022Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Four
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour
0
CY2022Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive
0
CY2022Q4 us-gaap Long Term Debt Maturities Repayments Of Principal After Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive
600000000
CY2022 us-gaap Interest Paid
InterestPaid
23547000
CY2021 us-gaap Interest Paid
InterestPaid
23752000
CY2020 us-gaap Interest Paid
InterestPaid
26332000
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Available For Grant
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant
1381427
CY2022 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested In Period Fair Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue1
3086000
CY2021 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested In Period Fair Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue1
2983000
CY2020 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested In Period Fair Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue1
3564000
CY2021Q4 us-gaap Defined Benefit Plan Accumulated Benefit Obligation
DefinedBenefitPlanAccumulatedBenefitObligation
171755000
CY2022 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P6Y
CY2022 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P5Y
CY2022 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
25276000
CY2021 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
23787000
CY2020 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
15388000
CY2022 us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
6363000
CY2021 us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
5988000
CY2020 us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
3874000
CY2022Q4 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
17610000
CY2022 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
P1Y3M18D
CY2022Q4 us-gaap Defined Benefit Plan Accumulated Other Comprehensive Income Net Gains Losses After Tax
DefinedBenefitPlanAccumulatedOtherComprehensiveIncomeNetGainsLossesAfterTax
-1815000
CY2022Q4 us-gaap Defined Benefit Plan Accumulated Other Comprehensive Income Net Prior Service Cost Credit After Tax
DefinedBenefitPlanAccumulatedOtherComprehensiveIncomeNetPriorServiceCostCreditAfterTax
-51000
CY2022Q4 us-gaap Defined Benefit Plan Accumulated Other Comprehensive Income Net Transition Assets Obligations After Tax
DefinedBenefitPlanAccumulatedOtherComprehensiveIncomeNetTransitionAssetsObligationsAfterTax
-17000
CY2021 us-gaap Defined Benefit Plan Recognized Net Gain Loss Due To Settlements And Curtailments1
DefinedBenefitPlanRecognizedNetGainLossDueToSettlementsAndCurtailments1
126056000
CY2021Q4 leco Surplus Retirement Benefit Funds To Be Used For Other Qualified Plans
SurplusRetirementBenefitFundsToBeUsedForOtherQualifiedPlans
68458000
CY2022Q4 us-gaap Defined Benefit Plan Accumulated Benefit Obligation
DefinedBenefitPlanAccumulatedBenefitObligation
125031000
CY2020 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
408000
CY2022 us-gaap Defined Benefit Plan Other Costs
DefinedBenefitPlanOtherCosts
-3556000
CY2021 us-gaap Defined Benefit Plan Other Costs
DefinedBenefitPlanOtherCosts
123920000
CY2020 us-gaap Defined Benefit Plan Other Costs
DefinedBenefitPlanOtherCosts
1575000
CY2022Q4 us-gaap Defined Benefit Plan Fair Value Of Plan Assets
DefinedBenefitPlanFairValueOfPlanAssets
86543000
CY2021Q4 us-gaap Defined Benefit Plan Fair Value Of Plan Assets
DefinedBenefitPlanFairValueOfPlanAssets
183015000
CY2022 us-gaap Defined Contribution Plan Employer Matching Contribution Percent
DefinedContributionPlanEmployerMatchingContributionPercent
0.06
CY2022 leco Defined Contribution Plan Employer Match Level One
DefinedContributionPlanEmployerMatchLevelOne
1
CY2022 leco Defined Contribution Plan Employer Match Employee Contribution Level One
DefinedContributionPlanEmployerMatchEmployeeContributionLevelOne
0.03
CY2022 leco Defined Contribution Plan Employers Additional Annual Match
DefinedContributionPlanEmployersAdditionalAnnualMatch
0.03
CY2022 us-gaap Defined Contribution Plan Employer Matching Contribution Percent
DefinedContributionPlanEmployerMatchingContributionPercent
0.06
CY2022 us-gaap Defined Contribution Plan Cost Recognized
DefinedContributionPlanCostRecognized
29569000
CY2021 us-gaap Defined Contribution Plan Cost Recognized
DefinedContributionPlanCostRecognized
26282000
CY2020 us-gaap Defined Contribution Plan Cost Recognized
DefinedContributionPlanCostRecognized
22593000
CY2022 leco Guaranteed Continuous Employment Plan Minimum Percentage Of Every Standard Work Week For Which Company Will Provide Work To Employees
GuaranteedContinuousEmploymentPlanMinimumPercentageOfEveryStandardWorkWeekForWhichCompanyWillProvideWorkToEmployees
0.75
CY2022 leco Guaranteed Continuous Employment Plan Standard Hours In Work Week
GuaranteedContinuousEmploymentPlanStandardHoursInWorkWeek
40
CY2022 leco Guaranteed Continuous Employment Plan Termination Notice Period Minimum
GuaranteedContinuousEmploymentPlanTerminationNoticePeriodMinimum
P6M
CY2022 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
-153000
CY2021 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
499000
CY2022 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
6588000
CY2021 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
8964000
CY2020 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
5109000
CY2022 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
9991000
CY2022 us-gaap Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
-6715000
CY2021 us-gaap Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
-4097000
CY2020 us-gaap Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
-283000
CY2021 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-114457000
CY2020 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
3942000
CY2022 us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
359760000
CY2021 us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
143290000
CY2020 us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
179650000
CY2022 us-gaap Income Loss From Continuing Operations Before Income Taxes Foreign
IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign
233067000
CY2021 us-gaap Income Loss From Continuing Operations Before Income Taxes Foreign
IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign
181708000
CY2020 us-gaap Income Loss From Continuing Operations Before Income Taxes Foreign
IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign
84390000
CY2022 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
592827000
CY2021 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
324998000
CY2020 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
264040000
CY2022 us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
88974000
CY2021 us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
23415000
CY2020 us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
30091000
CY2022 us-gaap Current Foreign Tax Expense Benefit
CurrentForeignTaxExpenseBenefit
55664000
CY2021 us-gaap Current Foreign Tax Expense Benefit
CurrentForeignTaxExpenseBenefit
44828000
CY2020 us-gaap Current Foreign Tax Expense Benefit
CurrentForeignTaxExpenseBenefit
18020000
CY2022 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
24423000
CY2021 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
10298000
CY2020 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
8770000
CY2022 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
169061000
CY2021 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
78541000
CY2020 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
56881000
CY2022 us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
-38462000
CY2021 us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
-21538000
CY2020 us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
-1898000
CY2022 us-gaap Deferred Foreign Income Tax Expense Benefit
DeferredForeignIncomeTaxExpenseBenefit
-3281000
CY2021 us-gaap Deferred Foreign Income Tax Expense Benefit
DeferredForeignIncomeTaxExpenseBenefit
-4488000
CY2020 us-gaap Deferred Foreign Income Tax Expense Benefit
DeferredForeignIncomeTaxExpenseBenefit
3196000
CY2022 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
-48458000
CY2021 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
-30123000
CY2020 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
1015000
CY2022 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
120603000
CY2021 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
48418000
CY2020 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
57896000
CY2022 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
124492000
CY2021 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
68250000
CY2020 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
55448000
CY2022 us-gaap Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
12904000
CY2021 us-gaap Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
4005000
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