$LECO
LINCOLN ELECTRIC HOLDINGS INC

2024 Q1 Form 10-K Financial Statement

#000005952724000008 Filed on February 27, 2024

View on sec.gov

Income Statement

Concept 2024 Q1 2023 Q4 2023
Revenue $981.2M $1.059B $4.192B
YoY Change -5.59% 13.7% 11.44%
Cost Of Revenue $612.8M $687.5M $2.714B
YoY Change -10.41% 10.36% 9.41%
Gross Profit $368.4M $371.0M $1.478B
YoY Change 3.67% 20.47% 15.38%
Gross Profit Margin 37.55% 35.05% 35.25%
Selling, General & Admin $198.6M $188.9M $758.9M
YoY Change 4.46% 23.05% 15.58%
% of Gross Profit 53.91% 50.92% 51.36%
Research & Development $71.24M
YoY Change 12.7%
% of Gross Profit 4.82%
Depreciation & Amortization $21.59M $21.97M $86.67M
YoY Change 1.37% 15.33% 11.03%
% of Gross Profit 5.86% 5.92% 5.87%
Operating Expenses $198.6M $188.9M $758.9M
YoY Change 4.46% 23.05% 5.43%
Operating Profit $169.8M $182.1M $718.8M
YoY Change 3.31% 17.9% 17.38%
Interest Expense -$7.164M -$8.663M -$44.37M
YoY Change -150.97% -46.44% -242.64%
% of Operating Profit -4.22% -4.76% -6.17%
Other Income/Expense, Net $3.107M $2.507M $12.59M
YoY Change -26.18% -10.53% 25.98%
Pretax Income $158.5M $197.0M $686.9M
YoY Change 2.03% 45.13% 15.86%
Income Tax $35.12M $40.39M $141.6M
% Of Pretax Income 22.15% 20.5% 20.62%
Net Earnings $123.4M $156.6M $545.2M
YoY Change 1.22% 43.52% 15.46%
Net Earnings / Revenue 12.58% 14.8% 13.01%
Basic Earnings Per Share $2.17 $9.50
Diluted Earnings Per Share $2.14 $2.71 $9.37
COMMON SHARES
Basic Shares Outstanding 56.82M 57.36M
Diluted Shares Outstanding 57.64M 58.22M

Balance Sheet

Concept 2024 Q1 2023 Q4 2023
SHORT-TERM ASSETS
Cash & Short-Term Investments $375.0M $393.8M $393.8M
YoY Change 88.62% 99.74% 99.74%
Cash & Equivalents $375.0M $393.8M $393.8M
Short-Term Investments
Other Short-Term Assets $193.0M $197.6M $197.6M
YoY Change 11.15% 28.62% 28.62%
Inventory $567.3M $562.9M $562.9M
Prepaid Expenses
Receivables $544.5M $538.8M $538.8M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $1.680B $1.693B $1.693B
YoY Change 4.3% 8.69% 8.69%
LONG-TERM ASSETS
Property, Plant & Equipment $634.8M $575.3M $628.6M
YoY Change 14.71% 5.59% 6.6%
Goodwill $689.9M $694.5M
YoY Change 1.54% 4.39%
Intangibles $186.7M
YoY Change -7.91%
Long-Term Investments
YoY Change
Other Assets $375.3M $182.6M $174.5M
YoY Change -8.44% -2.42% 5.67%
Total Long-Term Assets $1.700B $1.684B $1.684B
YoY Change 3.49% 3.79% 3.79%
TOTAL ASSETS
Total Short-Term Assets $1.680B $1.693B $1.693B
Total Long-Term Assets $1.700B $1.684B $1.684B
Total Assets $3.380B $3.377B $3.377B
YoY Change 3.89% 6.19% 6.19%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $327.8M $325.4M $325.4M
YoY Change -9.26% -7.57% -7.57%
Accrued Expenses $128.0M $125.5M $125.5M
YoY Change 6.02% 4.79% 4.79%
Deferred Revenue
YoY Change
Short-Term Debt $4.720M $2.435M $2.435M
YoY Change -90.43% -97.05% -97.05%
Long-Term Debt Due $4.000K $4.000K
YoY Change -99.96% -99.96%
Total Short-Term Liabilities $748.9M $754.6M $754.6M
YoY Change -10.42% -11.52% -11.52%
LONG-TERM LIABILITIES
Long-Term Debt $1.103B $1.103B $1.103B
YoY Change -0.72% -0.69% -0.69%
Other Long-Term Liabilities $220.3M $197.9M $197.9M
YoY Change 21.47% 19.09% 19.09%
Total Long-Term Liabilities $1.323B $1.301B $1.301B
YoY Change 2.4% 1.89% 1.89%
TOTAL LIABILITIES
Total Short-Term Liabilities $748.9M $754.6M $754.6M
Total Long-Term Liabilities $1.323B $1.301B $1.301B
Total Liabilities $2.072B $2.068B $2.068B
YoY Change -2.64% -3.64% -3.63%
SHAREHOLDERS EQUITY
Retained Earnings $3.766B $3.688B
YoY Change 11.18% 11.54%
Common Stock $570.3M $533.2M
YoY Change 12.29% 8.44%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $1.308B $1.309B $1.309B
YoY Change
Total Liabilities & Shareholders Equity $3.380B $3.377B $3.377B
YoY Change 3.89% 6.19% 6.19%

Cashflow Statement

Concept 2024 Q1 2023 Q4 2023
OPERATING ACTIVITIES
Net Income $123.4M $156.6M $545.2M
YoY Change 1.22% 43.52% 15.46%
Depreciation, Depletion And Amortization $21.59M $21.97M $86.67M
YoY Change 1.37% 15.33% 11.03%
Cash From Operating Activities $133.3M $121.6M $667.5M
YoY Change 7.56% 8.8% 74.12%
INVESTING ACTIVITIES
Capital Expenditures $26.26M $24.49M $90.99M
YoY Change 39.76% 25.05% 26.58%
Acquisitions $32.69M
YoY Change -92.51%
Other Investing Activities $316.0K $50.96M $16.26M
YoY Change -88.46% -112.34% -10325.16%
Cash From Investing Activities -$25.94M $26.37M -$74.73M
YoY Change 61.63% -106.1% -85.19%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net -$59.10M -$176.4M
YoY Change -197.3%
Debt Paid & Issued, Net $169.0K
YoY Change 52.25%
Cash From Financing Activities -125.4M -101.0M -412.4M
YoY Change 12.65% -127.21% -408.39%
NET CHANGE
Cash From Operating Activities 133.3M 121.6M 667.5M
Cash From Investing Activities -25.94M 26.37M -74.73M
Cash From Financing Activities -125.4M -101.0M -412.4M
Net Change In Cash -18.05M 47.02M 180.4M
YoY Change -1191.71% -6.92% 4203.94%
FREE CASH FLOW
Cash From Operating Activities $133.3M $121.6M $667.5M
Capital Expenditures $26.26M $24.49M $90.99M
Free Cash Flow $107.0M $97.16M $576.6M
YoY Change 1.8% 5.35% 85.09%

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Assets
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CY2022Q4 us-gaap Other Liabilities Noncurrent
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CY2023Q4 us-gaap Preferred Stock Shares Authorized
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CY2023Q4 us-gaap Preferred Stock Shares Issued
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CY2022Q4 us-gaap Preferred Stock Value
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CY2023Q4 us-gaap Common Stock Shares Issued
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CY2022Q4 us-gaap Common Stock Value
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CY2022Q4 us-gaap Treasury Stock Common Shares
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CY2022Q4 us-gaap Treasury Stock Common Value
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CY2022Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
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CY2021Q4 us-gaap Stockholders Equity
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CY2023Q4 us-gaap Stockholders Equity
StockholdersEquity
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CY2022 us-gaap Net Income Loss
NetIncomeLoss
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CY2021 us-gaap Net Income Loss
NetIncomeLoss
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GainLossOnRationalizationAndAssetImpairment
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CY2022 leco Gain Loss On Rationalization And Asset Impairment
GainLossOnRationalizationAndAssetImpairment
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CY2021 leco Gain Loss On Rationalization And Asset Impairment
GainLossOnRationalizationAndAssetImpairment
1054000
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DepreciationDepletionAndAmortization
86670000
CY2022 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
78059000
CY2021 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
81146000
CY2023 us-gaap Gain Loss On Disposition Of Assets
GainLossOnDispositionOfAssets
36187000
CY2022 us-gaap Gain Loss On Disposition Of Assets
GainLossOnDispositionOfAssets
0
CY2021 us-gaap Gain Loss On Disposition Of Assets
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CY2022 us-gaap Deferred Income Taxes And Tax Credits
DeferredIncomeTaxesAndTaxCredits
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CY2021 us-gaap Deferred Income Taxes And Tax Credits
DeferredIncomeTaxesAndTaxCredits
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CY2023 us-gaap Share Based Compensation
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CY2022 us-gaap Share Based Compensation
ShareBasedCompensation
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CY2021 us-gaap Share Based Compensation
ShareBasedCompensation
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CY2023 us-gaap Pension Expense Reversal Of Expense Noncash
PensionExpenseReversalOfExpenseNoncash
0
CY2022 us-gaap Pension Expense Reversal Of Expense Noncash
PensionExpenseReversalOfExpenseNoncash
0
CY2021 us-gaap Pension Expense Reversal Of Expense Noncash
PensionExpenseReversalOfExpenseNoncash
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OtherNoncashIncomeExpense
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CY2022 us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
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CY2021 us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
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CY2022 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
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CY2021 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
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CY2023 us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
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CY2022 us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
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CY2021 us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
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CY2023 us-gaap Increase Decrease In Other Current Assets
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CY2022 us-gaap Increase Decrease In Other Current Assets
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CY2021 us-gaap Increase Decrease In Other Current Assets
IncreaseDecreaseInOtherCurrentAssets
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CY2023 us-gaap Increase Decrease In Accounts Payable Trade
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CY2022 us-gaap Increase Decrease In Accounts Payable Trade
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CY2021 us-gaap Increase Decrease In Accounts Payable Trade
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CY2022 us-gaap Increase Decrease In Other Current Liabilities
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CY2021 us-gaap Increase Decrease In Other Current Liabilities
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CY2023 us-gaap Increase Decrease In Other Noncurrent Assets And Liabilities Net
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303000
CY2022 us-gaap Increase Decrease In Other Noncurrent Assets And Liabilities Net
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CY2021 us-gaap Increase Decrease In Other Noncurrent Assets And Liabilities Net
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2450000
CY2023 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
667542000
CY2022 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
383386000
CY2021 us-gaap Net Cash Provided By Used In Operating Activities
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365063000
CY2023 us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
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CY2022 us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
71883000
CY2021 us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
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CY2023 us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
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CY2022 us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
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CY2021 us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
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CY2023 us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
49494000
CY2022 us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
3331000
CY2021 us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
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CY2023 us-gaap Payments For Proceeds From Other Investing Activities
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CY2022 us-gaap Payments For Proceeds From Other Investing Activities
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CY2021 us-gaap Payments For Proceeds From Other Investing Activities
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CY2023 us-gaap Net Cash Provided By Used In Investing Activities
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CY2022 us-gaap Net Cash Provided By Used In Investing Activities
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CY2021 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
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CY2023 us-gaap Proceeds From Repayments Of Short Term Debt Maturing In More Than Three Months
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CY2022 us-gaap Proceeds From Repayments Of Short Term Debt Maturing In More Than Three Months
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CY2021 us-gaap Proceeds From Repayments Of Short Term Debt Maturing In More Than Three Months
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CY2023 us-gaap Proceeds From Repayments Of Debt
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CY2022 us-gaap Proceeds From Repayments Of Debt
ProceedsFromRepaymentsOfDebt
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CY2021 us-gaap Proceeds From Repayments Of Debt
ProceedsFromRepaymentsOfDebt
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CY2023 us-gaap Proceeds From Stock Options Exercised
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CY2022 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
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CY2021 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
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CY2023 us-gaap Payments For Repurchase Of Common Stock
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CY2022 us-gaap Payments For Repurchase Of Common Stock
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CY2021 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
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CY2023 us-gaap Payments Of Dividends Common Stock
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148010000
CY2022 us-gaap Payments Of Dividends Common Stock
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CY2021 us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
121851000
CY2023 us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
0
CY2022 us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
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CY2021 us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
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CY2023 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
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CY2022 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
133725000
CY2021 us-gaap Net Cash Provided By Used In Financing Activities
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CY2023 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
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CY2022 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
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CY2021 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
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-2088000
CY2023 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
196637000
CY2022 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
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CY2021 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
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CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
197150000
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
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CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
257279000
CY2023Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
393787000
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
197150000
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
192958000
CY2023Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
575316000
CY2022Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
544871000
CY2023 us-gaap Foreign Currency Transaction Gain Loss Realized
ForeignCurrencyTransactionGainLossRealized
-1744000
CY2022 us-gaap Foreign Currency Transaction Gain Loss Realized
ForeignCurrencyTransactionGainLossRealized
3633000
CY2021 us-gaap Foreign Currency Transaction Gain Loss Realized
ForeignCurrencyTransactionGainLossRealized
1332000
CY2023Q4 us-gaap Percentage Of Lifo Inventory
PercentageOfLIFOInventory
0.37
CY2022Q4 us-gaap Percentage Of Lifo Inventory
PercentageOfLIFOInventory
0.38
CY2023Q4 us-gaap Inventory Valuation Reserves
InventoryValuationReserves
31881000
CY2022Q4 us-gaap Inventory Valuation Reserves
InventoryValuationReserves
30164000
CY2023Q4 us-gaap Land
Land
67949000
CY2022Q4 us-gaap Land
Land
71446000
CY2023Q4 us-gaap Buildings And Improvements Gross
BuildingsAndImprovementsGross
445041000
CY2022Q4 us-gaap Buildings And Improvements Gross
BuildingsAndImprovementsGross
447098000
CY2023Q4 us-gaap Machinery And Equipment Gross
MachineryAndEquipmentGross
939316000
CY2022Q4 us-gaap Machinery And Equipment Gross
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916870000
CY2023Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
1452306000
CY2022Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
1435414000
CY2023Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
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876990000
CY2022Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
890543000
CY2023Q4 leco Percentage Net Sales Over Time
PercentageNetSalesOverTime
0.10
CY2023 leco Maximum Periodforwhich Derivative Contracts Cover Currencyand Commodity Exposures
MaximumPeriodforwhichDerivativeContractsCoverCurrencyandCommodityExposures
P3Y
CY2023 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
71235000
CY2022 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
63207000
CY2021 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
55969000
CY2023 leco Costs Related To Discretionary Employee Bonus Programs
CostsRelatedToDiscretionaryEmployeeBonusPrograms
192498000
CY2022 leco Costs Related To Discretionary Employee Bonus Programs
CostsRelatedToDiscretionaryEmployeeBonusPrograms
159281000
CY2021 leco Costs Related To Discretionary Employee Bonus Programs
CostsRelatedToDiscretionaryEmployeeBonusPrograms
120686000
CY2023 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>
CY2023 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
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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
CY2023Q4 leco Percentage Net Sales Over Time
PercentageNetSalesOverTime
0.10
CY2023Q4 us-gaap Unbilled Contracts Receivable
UnbilledContractsReceivable
41816000
CY2022Q4 us-gaap Unbilled Contracts Receivable
UnbilledContractsReceivable
35252000
CY2023 us-gaap Profit Loss
ProfitLoss
545248000
CY2022 us-gaap Profit Loss
ProfitLoss
472224000
CY2021 us-gaap Profit Loss
ProfitLoss
276580000
CY2023 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
57364000
CY2022 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
58030000
CY2021 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
59309000
CY2023 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
857000
CY2022 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
719000
CY2021 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
753000
CY2023 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
58221000
CY2022 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
58749000
CY2021 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
60062000
CY2023 us-gaap Earnings Per Share Basic
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9.50
CY2022 us-gaap Earnings Per Share Basic
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8.14
CY2021 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
4.66
CY2023 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
9.37
CY2022 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
8.04
CY2021 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
4.60
CY2023 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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69901000
CY2022 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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127358000
CY2021 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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2949000
CY2023Q4 us-gaap Percentage Of Lifo Inventory
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0.37
CY2021Q4 us-gaap Goodwill
Goodwill
430162000
CY2022 leco Goodwill Additions And Adjustments
GoodwillAdditionsAndAdjustments
246746000
CY2022 us-gaap Goodwill Foreign Currency Translation Gain Loss
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-11651000
CY2022Q4 us-gaap Goodwill
Goodwill
665257000
CY2023 leco Goodwill Additions And Adjustments
GoodwillAdditionsAndAdjustments
20212000
CY2023 us-gaap Goodwill Foreign Currency Translation Gain Loss
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8983000
CY2023Q4 us-gaap Goodwill
Goodwill
694452000
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401369000
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FiniteLivedIntangibleAssetsAccumulatedAmortization
230740000
CY2022Q4 us-gaap Finite Lived Intangible Assets Gross
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399662000
CY2022Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
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212919000
CY2023 us-gaap Finitelived Intangible Assets Acquired1
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8401000
CY2023 us-gaap Amortization Of Intangible Assets
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25983000
CY2022 us-gaap Amortization Of Intangible Assets
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21908000
CY2021 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
21155000
CY2023 us-gaap Impairment Of Intangible Assets Excluding Goodwill
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1564000
CY2022 us-gaap Impairment Of Intangible Assets Excluding Goodwill
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1018000
CY2023Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
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31245000
CY2023Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
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30322000
CY2023Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
28621000
CY2023Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
26332000
CY2023Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Five
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23550000
CY2023 us-gaap Number Of Operating Segments
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3
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0.38
CY2021Q4 us-gaap Percentage Of Lifo Inventory
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0.36
CY2023 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
4191636000
CY2023 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
4191636000
CY2022 us-gaap Payments For Restructuring
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4471000
CY2022 us-gaap Restructuring Charges
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3688000
CY2022Q4 us-gaap Restructuring Reserve
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2207000
CY2023 us-gaap Payments For Restructuring
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7215000
CY2023 leco Income Loss Before Interest And Income Taxes Adjusted
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731374000
CY2023 leco Special Items Charge Gain
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137000
CY2023 us-gaap Income Loss From Continuing Operations Before Interest Expense Interest Income Income Taxes Extraordinary Items Noncontrolling Interests Net
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731237000
CY2023 us-gaap Investment Income Interest
InvestmentIncomeInterest
6762000
CY2023 us-gaap Interest Expense
InterestExpense
51133000
CY2023 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
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686866000
CY2023Q4 us-gaap Assets
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3377297000
CY2023 us-gaap Payments To Acquire Productive Assets
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90987000
CY2023 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
86670000
CY2022 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
3761211000
CY2022 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
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3761211000
CY2022 leco Income Loss Before Interest And Income Taxes Adjusted
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636951000
CY2022 leco Special Items Charge Gain
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14624000
CY2022 us-gaap Income Loss From Continuing Operations Before Interest Expense Interest Income Income Taxes Extraordinary Items Noncontrolling Interests Net
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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
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592827000
CY2022Q4 us-gaap Assets
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3180546000
CY2022 us-gaap Payments To Acquire Productive Assets
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71883000
CY2022 us-gaap Depreciation Depletion And Amortization
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78059000
CY2021 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
3234180000
CY2021 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
3234180000
CY2021 leco Income Loss Before Interest And Income Taxes Adjusted
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491268000
CY2021 leco Special Items Charge Gain
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144056000
CY2021 us-gaap Income Loss From Continuing Operations Before Interest Expense Interest Income Income Taxes Extraordinary Items Noncontrolling Interests Net
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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
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324998000
CY2021Q4 us-gaap Assets
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2592307000
CY2021 us-gaap Payments To Acquire Productive Assets
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62531000
CY2021 us-gaap Depreciation Depletion And Amortization
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81146000
CY2023 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
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4191636000
CY2022 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
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CY2021 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
3234180000
CY2023Q4 us-gaap Property Plant And Equipment Net
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575316000
CY2022Q4 us-gaap Property Plant And Equipment Net
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544871000
CY2021Q4 us-gaap Property Plant And Equipment Net
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511744000
CY2021Q4 us-gaap Restructuring Reserve
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2990000
CY2023 us-gaap Restructuring Charges
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20094000
CY2023Q4 us-gaap Restructuring Reserve
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15086000
CY2023Q4 us-gaap Long Term Debt
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CY2022Q4 us-gaap Long Term Debt
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CY2023Q4 us-gaap Long Term Debt Current
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CY2022Q4 us-gaap Long Term Debt Current
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11039000
CY2023Q4 us-gaap Long Term Debt Noncurrent
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CY2022Q4 us-gaap Long Term Debt Noncurrent
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CY2023Q4 us-gaap Short Term Debt Weighted Average Interest Rate
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CY2022Q4 us-gaap Short Term Debt Weighted Average Interest Rate
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0.040
CY2023Q4 us-gaap Short Term Bank Loans And Notes Payable
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2435000
CY2022Q4 us-gaap Short Term Bank Loans And Notes Payable
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CY2023Q4 us-gaap Long Term Debt Current
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CY2022Q4 us-gaap Long Term Debt Current
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11039000
CY2023Q4 us-gaap Debt Current
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CY2022Q4 us-gaap Debt Current
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CY2023Q4 us-gaap Debt Longterm And Shortterm Combined Amount
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1105210000
CY2022Q4 us-gaap Debt Longterm And Shortterm Combined Amount
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1203879000
CY2023Q4 us-gaap Long Term Debt Fair Value
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1013795000
CY2022Q4 us-gaap Long Term Debt Fair Value
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1009020000
CY2023Q4 us-gaap Line Of Credit
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1102771000
CY2022Q4 us-gaap Line Of Credit
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1121435000
CY2023 us-gaap Line Of Credit Facility Covenant Compliance
LineOfCreditFacilityCovenantCompliance
As of December 31, 2023, the Company was in compliance with all of its covenants
CY2023Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Next Twelve Months
LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths
2439000
CY2023Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
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500005000
CY2023Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
0
CY2023Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Four
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0
CY2023Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Five
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100000000
CY2023Q4 us-gaap Long Term Debt Maturities Repayments Of Principal After Year Five
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500000000
CY2023 us-gaap Interest Paid
InterestPaid
29340000
CY2022 us-gaap Interest Paid
InterestPaid
23547000
CY2021 us-gaap Interest Paid
InterestPaid
23752000
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Available For Grant
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2192720
CY2023 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested In Period Fair Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue1
3684000
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
CY2023 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P6Y3M7D
CY2023 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P5Y6M
CY2023 us-gaap Allocated Share Based Compensation Expense
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26223000
CY2022 us-gaap Allocated Share Based Compensation Expense
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25276000
CY2021 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
23787000
CY2023 us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
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6711000
CY2022 us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
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6363000
CY2021 us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
5988000
CY2023Q4 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
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17254000
CY2023 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
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P1Y
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-1974000
CY2023Q4 us-gaap Defined Benefit Plan Accumulated Other Comprehensive Income Net Prior Service Cost Credit After Tax
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-39000
CY2023Q4 us-gaap Defined Benefit Plan Accumulated Other Comprehensive Income Net Transition Assets Obligations After Tax
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-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
CY2023Q4 us-gaap Defined Benefit Plan Accumulated Benefit Obligation
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131550000
CY2022Q4 us-gaap Defined Benefit Plan Accumulated Benefit Obligation
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125031000
CY2023Q4 us-gaap Defined Benefit Plan Fair Value Of Plan Assets
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91222000
CY2022Q4 us-gaap Defined Benefit Plan Fair Value Of Plan Assets
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86543000
CY2023 us-gaap Defined Contribution Plan Employer Matching Contribution Percent
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0.06
CY2023 leco Defined Contribution Plan Employer Match Level One
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1
CY2023 leco Defined Contribution Plan Employer Match Employee Contribution Level One
DefinedContributionPlanEmployerMatchEmployeeContributionLevelOne
0.03
CY2023 leco Defined Contribution Plan Employers Additional Annual Match
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0.03
CY2023 us-gaap Defined Contribution Plan Employer Matching Contribution Percent
DefinedContributionPlanEmployerMatchingContributionPercent
0.06
CY2023 us-gaap Defined Contribution Plan Cost Recognized
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29443000
CY2022 us-gaap Defined Contribution Plan Cost Recognized
DefinedContributionPlanCostRecognized
29569000
CY2021 us-gaap Defined Contribution Plan Cost Recognized
DefinedContributionPlanCostRecognized
26282000
CY2023 leco Guaranteed Continuous Employment Plan Minimum Percentage Of Every Standard Work Week For Which Company Will Provide Work To Employees
GuaranteedContinuousEmploymentPlanMinimumPercentageOfEveryStandardWorkWeekForWhichCompanyWillProvideWorkToEmployees
0.75
CY2023 leco Guaranteed Continuous Employment Plan Standard Hours In Work Week
GuaranteedContinuousEmploymentPlanStandardHoursInWorkWeek
40
CY2023 leco Guaranteed Continuous Employment Plan Termination Notice Period Minimum
GuaranteedContinuousEmploymentPlanTerminationNoticePeriodMinimum
P6M
CY2023 us-gaap Income Loss From Equity Method Investments
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556000
CY2022 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
-153000
CY2021 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
499000
CY2023 us-gaap Defined Benefit Plan Other Costs
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2573000
CY2022 us-gaap Defined Benefit Plan Other Costs
DefinedBenefitPlanOtherCosts
-3556000
CY2021 us-gaap Defined Benefit Plan Other Costs
DefinedBenefitPlanOtherCosts
123920000
CY2023 us-gaap Other Nonoperating Income Expense
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CY2022 us-gaap Other Nonoperating Income Expense
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6588000
CY2021 us-gaap Other Nonoperating Income Expense
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8964000
CY2023 us-gaap Nonoperating Income Expense
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13388000
CY2022 us-gaap Nonoperating Income Expense
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9991000
CY2021 us-gaap Nonoperating Income Expense
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CY2023 us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
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508316000
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
CY2023 us-gaap Income Loss From Continuing Operations Before Income Taxes Foreign
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178550000
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
CY2023 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
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686866000
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
CY2021 leco Income Tax Reconciliation Excess Tax Benefits Stock Options
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-4681000
CY2023 us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
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CY2022 us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
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CY2021 us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
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CY2023 us-gaap Current Foreign Tax Expense Benefit
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45830000
CY2022 us-gaap Current Foreign Tax Expense Benefit
CurrentForeignTaxExpenseBenefit
55664000
CY2021 us-gaap Current Foreign Tax Expense Benefit
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CY2023 us-gaap Current State And Local Tax Expense Benefit
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24132000
CY2022 us-gaap Current State And Local Tax Expense Benefit
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CY2021 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
10298000
CY2023 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
165476000
CY2022 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
169061000
CY2021 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
78541000
CY2023 us-gaap Deferred Federal Income Tax Expense Benefit
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-13068000
CY2022 us-gaap Deferred Federal Income Tax Expense Benefit
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-38462000
CY2021 us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
-21538000
CY2023 us-gaap Deferred Foreign Income Tax Expense Benefit
DeferredForeignIncomeTaxExpenseBenefit
-7515000
CY2022 us-gaap Deferred Foreign Income Tax Expense Benefit
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-3281000
CY2021 us-gaap Deferred Foreign Income Tax Expense Benefit
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-4488000
CY2023 us-gaap Deferred State And Local Income Tax Expense Benefit
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-3275000
CY2022 us-gaap Deferred State And Local Income Tax Expense Benefit
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CY2021 us-gaap Deferred State And Local Income Tax Expense Benefit
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-4097000
CY2023 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
-23858000
CY2022 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
-48458000
CY2021 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
-30123000
CY2023 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
141618000
CY2022 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
120603000
CY2021 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
48418000
CY2023 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
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144242000
CY2022 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
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124492000
CY2021 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
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68250000
CY2023 us-gaap Income Tax Reconciliation State And Local Income Taxes
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17979000
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
CY2023 leco Income Tax Reconciliation Excess Tax Benefits Stock Options
IncomeTaxReconciliationExcessTaxBenefitsStockOptions
-10742000
CY2022 leco Income Tax Reconciliation Excess Tax Benefits Stock Options
IncomeTaxReconciliationExcessTaxBenefitsStockOptions
-2500000
CY2023 us-gaap Effective Income Tax Rate Reconciliation Fdii Amount
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CY2022 us-gaap Effective Income Tax Rate Reconciliation Fdii Amount
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13356000
CY2021 us-gaap Effective Income Tax Rate Reconciliation Fdii Amount
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2197000
CY2023 us-gaap Income Tax Reconciliation Foreign Income Tax Rate Differential
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6854000
CY2022 us-gaap Income Tax Reconciliation Foreign Income Tax Rate Differential
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5020000
CY2021 us-gaap Income Tax Reconciliation Foreign Income Tax Rate Differential
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2131000
CY2023 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
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-4135000
CY2022 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
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-4547000
CY2021 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
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