$LII
LENNOX INTERNATIONAL INC

2021 Q1 Form 10-Q Financial Statement

#000106920221000018 Filed on April 26, 2021

View on sec.gov

Income Statement

Concept 2021 Q1 2020 Q1
Revenue $930.5M $723.8M
YoY Change 28.56% -8.41%
Cost Of Revenue $674.0M $558.1M
YoY Change 20.77% -5.2%
Gross Profit $256.5M $165.7M
YoY Change 54.8% -17.81%
Gross Profit Margin 27.57% 22.89%
Selling, General & Admin $145.3M $131.1M
YoY Change 10.83% -10.08%
% of Gross Profit 56.65% 79.12%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $17.40M $19.00M
YoY Change -8.42% 4.4%
% of Gross Profit 6.78% 11.47%
Operating Expenses $145.3M $131.1M
YoY Change 10.83% -10.08%
Operating Profit $114.1M $36.40M
YoY Change 213.46% -61.56%
Interest Expense $6.000M $8.700M
YoY Change -31.03% -20.18%
% of Operating Profit 5.26% 23.9%
Other Income/Expense, Net -$1.000M -$1.200M
YoY Change -16.67% 50.0%
Pretax Income $106.4M $26.50M
YoY Change 301.51% -68.07%
Income Tax $22.20M $14.00M
% Of Pretax Income 20.86% 52.83%
Net Earnings $84.20M $12.90M
YoY Change 552.71% -81.39%
Net Earnings / Revenue 9.05% 1.78%
Basic Earnings Per Share $2.22 $0.34
Diluted Earnings Per Share $2.20 $0.33
COMMON SHARES
Basic Shares Outstanding 38.00M shares 38.40M shares
Diluted Shares Outstanding 38.20M shares 38.70M shares

Balance Sheet

Concept 2021 Q1 2020 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $40.00M $42.80M
YoY Change -6.54% 35.02%
Cash & Equivalents $35.50M $39.10M
Short-Term Investments $4.500M $3.700M
Other Short-Term Assets $73.30M $77.80M
YoY Change -5.78% -10.06%
Inventory $502.3M $611.8M
Prepaid Expenses
Receivables $522.6M $492.7M
Other Receivables $0.00 $0.00
Total Short-Term Assets $1.138B $1.225B
YoY Change -7.09% 0.34%
LONG-TERM ASSETS
Property, Plant & Equipment $466.4M $442.1M
YoY Change 5.5% 7.38%
Goodwill $186.7M $186.5M
YoY Change 0.11% 0.0%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $85.40M $75.20M
YoY Change 13.56% 10.59%
Total Long-Term Assets $936.8M $903.3M
YoY Change 3.71% 2.09%
TOTAL ASSETS
Total Short-Term Assets $1.138B $1.225B
Total Long-Term Assets $936.8M $903.3M
Total Assets $2.075B $2.128B
YoY Change -2.51% 1.08%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $372.9M $355.0M
YoY Change 5.04% -13.81%
Accrued Expenses $254.5M $235.1M
YoY Change 8.25% 6.96%
Deferred Revenue $8.200M $8.500M
YoY Change -3.53% 57.41%
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $10.10M $8.200M
YoY Change 23.17% 30.16%
Total Short-Term Liabilities $849.1M $894.6M
YoY Change -5.09% -2.49%
LONG-TERM LIABILITIES
Long-Term Debt $1.008B $1.190B
YoY Change -15.3% 12.36%
Other Long-Term Liabilities $145.4M $139.2M
YoY Change 4.45% 7.74%
Total Long-Term Liabilities $145.4M $139.2M
YoY Change 4.45% 7.74%
TOTAL LIABILITIES
Total Short-Term Liabilities $849.1M $894.6M
Total Long-Term Liabilities $145.4M $139.2M
Total Liabilities $2.236B $2.447B
YoY Change -8.62% 5.89%
SHAREHOLDERS EQUITY
Retained Earnings $2.441B $2.131B
YoY Change 14.55% 12.23%
Common Stock $1.091B $1.096B
YoY Change -0.45% 1.46%
Preferred Stock
YoY Change
Treasury Stock (at cost) $3.594B $3.412B
YoY Change 5.32% 13.6%
Treasury Stock Shares 49.40M shares 48.92M shares
Shareholders Equity -$160.7M -$318.3M
YoY Change
Total Liabilities & Shareholders Equity $2.075B $2.128B
YoY Change -2.51% 1.08%

Cashflow Statement

Concept 2021 Q1 2020 Q1
OPERATING ACTIVITIES
Net Income $84.20M $12.90M
YoY Change 552.71% -81.39%
Depreciation, Depletion And Amortization $17.40M $19.00M
YoY Change -8.42% 4.4%
Cash From Operating Activities -$17.50M -$98.80M
YoY Change -82.29% -29.93%
INVESTING ACTIVITIES
Capital Expenditures $24.70M $24.70M
YoY Change 0.0% -33.6%
Acquisitions
YoY Change
Other Investing Activities $900.0K -$1.000M
YoY Change -190.0% -101.97%
Cash From Investing Activities -$23.80M -$25.70M
YoY Change -7.39% -288.97%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $200.0M $100.0M
YoY Change 100.0% 0.0%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -$45.50M $133.0M
YoY Change -134.21% 22.13%
NET CHANGE
Cash From Operating Activities -$17.50M -$98.80M
Cash From Investing Activities -$23.80M -$25.70M
Cash From Financing Activities -$45.50M $133.0M
Net Change In Cash -$86.80M $8.500M
YoY Change -1121.18% -145.95%
FREE CASH FLOW
Cash From Operating Activities -$17.50M -$98.80M
Capital Expenditures $24.70M $24.70M
Free Cash Flow -$42.20M -$123.5M
YoY Change -65.83% -30.7%

Facts In Submission

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CY2020Q1 us-gaap Other Comprehensive Income Loss Before Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossBeforeTaxPortionAttributableToParent
-33000000.0 USD
CY2021Q1 us-gaap Other Comprehensive Income Loss Tax
OtherComprehensiveIncomeLossTax
4600000 USD
CY2020Q1 us-gaap Other Comprehensive Income Loss Tax
OtherComprehensiveIncomeLossTax
-3700000 USD
CY2021Q1 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
-2000000.0 USD
CY2020Q1 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
-29300000 USD
CY2021Q1 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
82200000 USD
CY2020Q1 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-16400000 USD
CY2020Q4 us-gaap Stockholders Equity
StockholdersEquity
-17100000 USD
CY2021Q1 us-gaap Net Income Loss
NetIncomeLoss
84200000 USD
CY2021Q1 us-gaap Dividends
Dividends
0.77 USD
CY2021Q1 us-gaap Dividends Common Stock Cash
DividendsCommonStockCash
29100000 USD
CY2021Q1 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent
-2500000 USD
CY2021Q1 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansTax
3500000 USD
CY2021Q1 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Net Of Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax
3600000 USD
CY2021Q1 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
8500000 USD
CY2021Q1 us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss After Reclassification Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationTax
1100000 USD
CY2021Q1 us-gaap Other Comprehensive Income Derivatives Qualifying As Hedges Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeDerivativesQualifyingAsHedgesNetOfTaxPortionAttributableToParent
4100000 USD
CY2021Q1 us-gaap Stock Issued During Period Value Treasury Stock Reissued
StockIssuedDuringPeriodValueTreasuryStockReissued
800000 USD
CY2021Q1 us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
206000000.0 USD
CY2021Q1 us-gaap Stockholders Equity
StockholdersEquity
-160700000 USD
CY2019Q4 us-gaap Stockholders Equity
StockholdersEquity
-170200000 USD
CY2020Q1 lii Cumulative Effect Period Of Adoption
CumulativeEffectPeriodOfAdoption
-1300000 USD
CY2020Q1 us-gaap Net Income Loss
NetIncomeLoss
12900000 USD
CY2020Q1 us-gaap Dividends
Dividends
0.77 USD
CY2020Q1 us-gaap Dividends Common Stock Cash
DividendsCommonStockCash
29400000 USD
CY2020Q1 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent
-20300000 USD
CY2020Q1 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansTax
200000 USD
CY2020Q1 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Net Of Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax
-600000 USD
CY2020Q1 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
3700000 USD
CY2020Q1 us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss After Reclassification Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationTax
3900000 USD
CY2020Q1 us-gaap Other Comprehensive Income Derivatives Qualifying As Hedges Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeDerivativesQualifyingAsHedgesNetOfTaxPortionAttributableToParent
-9600000 USD
CY2020Q1 us-gaap Stock Issued During Period Value Treasury Stock Reissued
StockIssuedDuringPeriodValueTreasuryStockReissued
800000 USD
CY2020Q1 us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
105500000 USD
CY2020Q1 us-gaap Stockholders Equity
StockholdersEquity
-318300000 USD
CY2021Q1 us-gaap Net Income Loss
NetIncomeLoss
84200000 USD
CY2020Q1 us-gaap Net Income Loss
NetIncomeLoss
12900000 USD
CY2021Q1 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
3300000 USD
CY2020Q1 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
2900000 USD
CY2021Q1 us-gaap Restructuring Costs
RestructuringCosts
300000 USD
CY2020Q1 us-gaap Restructuring Costs
RestructuringCosts
100000 USD
CY2021Q1 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
2000000.0 USD
CY2020Q1 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
1200000 USD
CY2021Q1 us-gaap Unrealized Gain Loss On Derivatives
UnrealizedGainLossOnDerivatives
200000 USD
CY2020Q1 us-gaap Unrealized Gain Loss On Derivatives
UnrealizedGainLossOnDerivatives
-1500000 USD
CY2021Q1 us-gaap Share Based Compensation
ShareBasedCompensation
8500000 USD
CY2020Q1 us-gaap Share Based Compensation
ShareBasedCompensation
3700000 USD
CY2021Q1 us-gaap Depreciation And Amortization
DepreciationAndAmortization
17400000 USD
CY2020Q1 us-gaap Depreciation And Amortization
DepreciationAndAmortization
19000000.0 USD
CY2021Q1 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
1000000.0 USD
CY2020Q1 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
8800000 USD
CY2021Q1 us-gaap Pension Expense
PensionExpense
3000000.0 USD
CY2020Q1 us-gaap Pension Expense
PensionExpense
2700000 USD
CY2021Q1 us-gaap Pension Contributions
PensionContributions
400000 USD
CY2020Q1 us-gaap Pension Contributions
PensionContributions
600000 USD
CY2021Q1 us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
100000 USD
CY2020Q1 us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
-200000 USD
CY2021Q1 us-gaap Increase Decrease In Accounts And Notes Receivable
IncreaseDecreaseInAccountsAndNotesReceivable
77500000 USD
CY2020Q1 us-gaap Increase Decrease In Accounts And Notes Receivable
IncreaseDecreaseInAccountsAndNotesReceivable
18700000 USD
CY2021Q1 us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
62500000 USD
CY2020Q1 us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
71000000.0 USD
CY2021Q1 us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
9500000 USD
CY2020Q1 us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
700000 USD
CY2021Q1 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
41200000 USD
CY2020Q1 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-8700000 USD
CY2021Q1 us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
-41800000 USD
CY2020Q1 us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
-33000000.0 USD
CY2021Q1 us-gaap Increase Decrease In Income Taxes Payable Net Of Income Taxes Receivable
IncreaseDecreaseInIncomeTaxesPayableNetOfIncomeTaxesReceivable
14000000.0 USD
CY2020Q1 us-gaap Increase Decrease In Income Taxes Payable Net Of Income Taxes Receivable
IncreaseDecreaseInIncomeTaxesPayableNetOfIncomeTaxesReceivable
-17300000 USD
CY2021Q1 us-gaap Increase Decrease In Leasing Receivables
IncreaseDecreaseInLeasingReceivables
700000 USD
CY2020Q1 us-gaap Increase Decrease In Leasing Receivables
IncreaseDecreaseInLeasingReceivables
-100000 USD
CY2021Q1 us-gaap Increase Decrease In Other Operating Capital Net
IncreaseDecreaseInOtherOperatingCapitalNet
-6900000 USD
CY2020Q1 us-gaap Increase Decrease In Other Operating Capital Net
IncreaseDecreaseInOtherOperatingCapitalNet
-3900000 USD
CY2021Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-17500000 USD
CY2020Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-98800000 USD
CY2021Q1 us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
400000 USD
CY2020Q1 us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
100000 USD
CY2021Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
24700000 USD
CY2020Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
24700000 USD
CY2021Q1 us-gaap Payments For Proceeds From Short Term Investments
PaymentsForProceedsFromShortTermInvestments
-500000 USD
CY2020Q1 us-gaap Payments For Proceeds From Short Term Investments
PaymentsForProceedsFromShortTermInvestments
1100000 USD
CY2021Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-23800000 USD
CY2020Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-25700000 USD
CY2021Q1 us-gaap Proceeds From Other Debt
ProceedsFromOtherDebt
155000000.0 USD
CY2020Q1 us-gaap Proceeds From Other Debt
ProceedsFromOtherDebt
0 USD
CY2021Q1 us-gaap Repayments Of Other Debt
RepaymentsOfOtherDebt
0 USD
CY2020Q1 us-gaap Repayments Of Other Debt
RepaymentsOfOtherDebt
70000000.0 USD
CY2021Q1 us-gaap Repayments Of Senior Debt
RepaymentsOfSeniorDebt
2900000 USD
CY2020Q1 us-gaap Repayments Of Senior Debt
RepaymentsOfSeniorDebt
2600000 USD
CY2021Q1 us-gaap Proceeds From Long Term Lines Of Credit
ProceedsFromLongTermLinesOfCredit
202000000.0 USD
CY2020Q1 us-gaap Proceeds From Long Term Lines Of Credit
ProceedsFromLongTermLinesOfCredit
682500000 USD
CY2021Q1 us-gaap Repayments Of Long Term Lines Of Credit
RepaymentsOfLongTermLinesOfCredit
165000000.0 USD
CY2020Q1 us-gaap Repayments Of Long Term Lines Of Credit
RepaymentsOfLongTermLinesOfCredit
342500000 USD
CY2021Q1 us-gaap Proceeds From Issuance Of Shares Under Incentive And Share Based Compensation Plans
ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlans
900000 USD
CY2020Q1 us-gaap Proceeds From Issuance Of Shares Under Incentive And Share Based Compensation Plans
ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlans
800000 USD
CY2021Q1 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
200000000.0 USD
CY2020Q1 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
100000000.0 USD
CY2021Q1 us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
6000000.0 USD
CY2020Q1 us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
5500000 USD
CY2021Q1 us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
29500000 USD
CY2020Q1 us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
29700000 USD
CY2021Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-45500000 USD
CY2020Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
133000000.0 USD
CY2021Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
-86800000 USD
CY2020Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
8500000 USD
CY2021Q1 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
-1600000 USD
CY2020Q1 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
-6700000 USD
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
123900000 USD
CY2019Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
37300000 USD
CY2021Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
35500000 USD
CY2020Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
39100000 USD
CY2021Q1 us-gaap Interest Paid Net
InterestPaidNet
5500000 USD
CY2020Q1 us-gaap Interest Paid Net
InterestPaidNet
6800000 USD
CY2021Q1 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
8200000 USD
CY2020Q1 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
21300000 USD
CY2021Q1 us-gaap Use Of Estimates
UseOfEstimates
<div style="text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Use of Estimates</span></div><div style="text-align:justify;text-indent:13.5pt"><span><br/></span></div><div style="text-align:justify;text-indent:13.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The preparation of financial statements requires us to make estimates and assumptions about future events. These estimates and the underlying assumptions affect the amounts of assets and liabilities reported, disclosures about contingent assets and liabilities, and reported amounts of revenues and expenses. Such estimates include the valuation of accounts receivable, inventories, goodwill, intangible assets and other long-lived assets, contingencies, guarantee obligations, indemnifications, and assumptions used in the calculation of income taxes, pension and post-retirement medical benefits, self-insurance and warranty reserves, and stock-based compensation, among others. These estimates and assumptions are based on our best estimates and judgment. </span></div>We evaluate these estimates and assumptions on an ongoing basis using historical experience and other factors, including the current economic environment. We believe these estimates and assumptions to be reasonable under the circumstances and will adjust such estimates and assumptions when facts and circumstances dictate. Volatile equity, foreign currency and commodity markets combine to increase the uncertainty inherent in such estimates and assumptions. Future events and their effects cannot be determined with precision and actual results could differ significantly from these estimates. Changes in these estimates will be reflected in the financial statements in future periods.
CY2021Q1 us-gaap Number Of Reportable Segments
NumberOfReportableSegments
3 Segment
CY2021Q1 us-gaap Revenues
Revenues
930500000 USD
CY2020Q1 us-gaap Revenues
Revenues
723800000 USD
CY2021Q1 lii Segment Profit And Loss
SegmentProfitAndLoss
115700000 USD
CY2020Q1 lii Segment Profit And Loss
SegmentProfitAndLoss
37600000 USD
CY2021Q1 lii Net Lossgainfromnaturaldisaster
NetLossgainfromnaturaldisaster
0 USD
CY2020Q1 lii Net Lossgainfromnaturaldisaster
NetLossgainfromnaturaldisaster
1600000 USD
CY2021Q1 lii Segment Reporting Reconciling Item In Losses And Other Expenses From Segment To Consolidated Amount
SegmentReportingReconcilingItemInLossesAndOtherExpensesFromSegmentToConsolidatedAmount
-1500000 USD
CY2020Q1 lii Segment Reporting Reconciling Item In Losses And Other Expenses From Segment To Consolidated Amount
SegmentReportingReconcilingItemInLossesAndOtherExpensesFromSegmentToConsolidatedAmount
900000 USD
CY2021Q1 us-gaap Restructuring Charges
RestructuringCharges
100000 USD
CY2020Q1 us-gaap Restructuring Charges
RestructuringCharges
500000 USD
CY2021Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
114100000 USD
CY2020Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
36400000 USD
CY2021Q1 us-gaap Net Income Loss
NetIncomeLoss
84200000 USD
CY2020Q1 us-gaap Net Income Loss
NetIncomeLoss
12900000 USD
CY2021Q1 us-gaap Income Loss From Discontinued Operations Net Of Tax Attributable To Reporting Entity
IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToReportingEntity
0 USD
CY2020Q1 us-gaap Income Loss From Discontinued Operations Net Of Tax Attributable To Reporting Entity
IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToReportingEntity
400000 USD
CY2021Q1 us-gaap Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
84200000 USD
CY2020Q1 us-gaap Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
12500000 USD
CY2021Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
38000000.0 shares
CY2020Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
38400000 shares
CY2021Q1 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
200000 shares
CY2020Q1 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
300000 shares
CY2021Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
38200000 shares
CY2020Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
38700000 shares
CY2021Q1 us-gaap Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
2.22
CY2020Q1 us-gaap Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
0.33
CY2021Q1 us-gaap Income Loss From Discontinued Operations Net Of Tax Per Basic Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare
0
CY2020Q1 us-gaap Income Loss From Discontinued Operations Net Of Tax Per Basic Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare
0.01
CY2021Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
2.22
CY2020Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.34
CY2021Q1 us-gaap Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
2.20
CY2020Q1 us-gaap Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
0.32
CY2021Q1 us-gaap Income Loss From Discontinued Operations Net Of Tax Per Diluted Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerDilutedShare
0
CY2020Q1 us-gaap Income Loss From Discontinued Operations Net Of Tax Per Diluted Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerDilutedShare
0.01
CY2021Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
2.20
CY2020Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.33
CY2021Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
100000 shares
CY2020Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
300000 shares
CY2021Q1 us-gaap Antidilutive Securities Excluded From Computation Of Net Income Per Outstanding Unit Amount
AntidilutiveSecuritiesExcludedFromComputationOfNetIncomePerOutstandingUnitAmount
278.00
CY2021Q1 us-gaap Product Warranty Accrual Classified Current
ProductWarrantyAccrualClassifiedCurrent
38800000 USD
CY2020Q4 us-gaap Product Warranty Accrual Classified Current
ProductWarrantyAccrualClassifiedCurrent
37700000 USD
CY2021Q1 us-gaap Product Warranty Accrual Noncurrent
ProductWarrantyAccrualNoncurrent
85000000.0 USD
CY2020Q4 us-gaap Product Warranty Accrual Noncurrent
ProductWarrantyAccrualNoncurrent
82100000 USD
CY2021Q1 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
123800000 USD
CY2020Q4 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
119800000 USD
CY2020Q4 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
119800000 USD
CY2021Q1 us-gaap Product Warranty Accrual Payments
ProductWarrantyAccrualPayments
7000000.0 USD
CY2021Q1 us-gaap Product Warranty Accrual Warranties Issued
ProductWarrantyAccrualWarrantiesIssued
9800000 USD
CY2021Q1 us-gaap Product Warranty Accrual Preexisting Increase Decrease
ProductWarrantyAccrualPreexistingIncreaseDecrease
1300000 USD
CY2021Q1 us-gaap Standard And Extended Product Warranty Accrual Foreign Currency Translation Gain Loss
StandardAndExtendedProductWarrantyAccrualForeignCurrencyTranslationGainLoss
-100000 USD
CY2021Q1 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
123800000 USD
CY2021Q1 us-gaap Liability For Asbestos And Environmental Claims Net Incurred Loss1
LiabilityForAsbestosAndEnvironmentalClaimsNetIncurredLoss1
1100000 USD
CY2020Q1 us-gaap Liability For Asbestos And Environmental Claims Net Incurred Loss1
LiabilityForAsbestosAndEnvironmentalClaimsNetIncurredLoss1
-1700000 USD
CY2020Q4 us-gaap Stock Repurchase Program Authorized Amount1
StockRepurchaseProgramAuthorizedAmount1
3000000000 USD
CY2019Q4 us-gaap Stock Repurchase Program Authorized Amount1
StockRepurchaseProgramAuthorizedAmount1
500000000 USD
CY2021Q1 us-gaap Stock Repurchase Program Remaining Authorized Repurchase Amount1
StockRepurchaseProgramRemainingAuthorizedRepurchaseAmount1
246000000 USD
CY2021Q1 us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
200000000.0 USD
CY2021Q1 us-gaap Stock Repurchased During Period Shares
StockRepurchasedDuringPeriodShares
600000 shares
CY2021Q1 lii Percentage Of Accelerated Share Repurchases Of Shares Expected To Be Repurchased
PercentageOfAcceleratedShareRepurchasesOfSharesExpectedToBeRepurchased
0.85
CY2021Q2 us-gaap Stock Repurchased During Period Shares
StockRepurchasedDuringPeriodShares
100000 shares
CY2021Q2 us-gaap Stock Repurchased During Period Shares
StockRepurchasedDuringPeriodShares
700000 shares
CY2021Q1 us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
6000000.0 USD
CY2021Q1 us-gaap Revenues
Revenues
930500000 USD
CY2020Q1 us-gaap Revenues
Revenues
723800000 USD
CY2021Q1 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
8200000 USD
CY2020Q4 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
5500000 USD
CY2021Q1 lii Contractwith Customer Liability Current Net Changein Timeframe Performance Obligation Satisfied Revenue Recognized
ContractwithCustomerLiabilityCurrentNetChangeinTimeframePerformanceObligationSatisfiedRevenueRecognized
-2700000 USD
CY2021Q1 lii Contractwith Customer Liability Current Net Changein Timeframe Performance Obligation Satisfied Revenue Recognized Percent
ContractwithCustomerLiabilityCurrentNetChangeinTimeframePerformanceObligationSatisfiedRevenueRecognizedPercent
0.491
CY2021Q1 us-gaap Contract With Customer Liability Noncurrent
ContractWithCustomerLiabilityNoncurrent
5500000 USD
CY2020Q4 us-gaap Contract With Customer Liability Noncurrent
ContractWithCustomerLiabilityNoncurrent
5600000 USD
CY2021Q1 lii Contractwith Customer Liability Noncurrent Net Changein Timeframe Performance Obligation Satisfied Revenue Recognized
ContractwithCustomerLiabilityNoncurrentNetChangeinTimeframePerformanceObligationSatisfiedRevenueRecognized
100000 USD
CY2021Q1 lii Contractwith Customer Liability Noncurrent Net Changein Timeframe Performance Obligation Satisfied Revenue Recognized Percent
ContractwithCustomerLiabilityNoncurrentNetChangeinTimeframePerformanceObligationSatisfiedRevenueRecognizedPercent
-0.018
CY2021Q1 lii Contractwith Customer Asset Liability Net
ContractwithCustomerAssetLiabilityNet
-13700000 USD
CY2020Q4 lii Contractwith Customer Asset Liability Net
ContractwithCustomerAssetLiabilityNet
-11100000 USD
CY2021Q1 lii Contractwith Customer Asset Liability Changein Timeframe Performance Obligation Satisfied Revenue Recognized
ContractwithCustomerAssetLiabilityChangeinTimeframePerformanceObligationSatisfiedRevenueRecognized
-2600000 USD
CY2021Q1 us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
1600000 USD
CY2020Q1 us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
1500000 USD
CY2021Q1 us-gaap Inventory Finished Goods
InventoryFinishedGoods
321800000 USD
CY2020Q4 us-gaap Inventory Finished Goods
InventoryFinishedGoods
280100000 USD
CY2021Q1 us-gaap Inventory Work In Process
InventoryWorkInProcess
6300000 USD
CY2020Q4 us-gaap Inventory Work In Process
InventoryWorkInProcess
6500000 USD
CY2021Q1 us-gaap Inventory Raw Materials And Supplies
InventoryRawMaterialsAndSupplies
228800000 USD
CY2020Q4 us-gaap Inventory Raw Materials And Supplies
InventoryRawMaterialsAndSupplies
207800000 USD
CY2021Q1 us-gaap Inventory Gross
InventoryGross
556900000 USD
CY2020Q4 us-gaap Inventory Gross
InventoryGross
494400000 USD
CY2021Q1 us-gaap Inventory Lifo Reserve
InventoryLIFOReserve
54600000 USD
CY2020Q4 us-gaap Inventory Lifo Reserve
InventoryLIFOReserve
55000000.0 USD
CY2021Q1 us-gaap Inventory Net
InventoryNet
502300000 USD
CY2020Q4 us-gaap Inventory Net
InventoryNet
439400000 USD
CY2020Q4 us-gaap Goodwill
Goodwill
186900000 USD
CY2021Q1 us-gaap Goodwill Foreign Currency Translation Gain Loss
GoodwillForeignCurrencyTranslationGainLoss
-200000 USD
CY2021Q1 us-gaap Goodwill
Goodwill
186700000 USD
CY2021Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
8500000 USD
CY2020Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
3700000 USD
CY2021Q1 us-gaap Defined Benefit Plan Service Cost
DefinedBenefitPlanServiceCost
1500000 USD
CY2020Q1 us-gaap Defined Benefit Plan Service Cost
DefinedBenefitPlanServiceCost
1400000 USD
CY2021Q1 us-gaap Defined Benefit Plan Interest Cost
DefinedBenefitPlanInterestCost
1500000 USD
CY2020Q1 us-gaap Defined Benefit Plan Interest Cost
DefinedBenefitPlanInterestCost
1800000 USD
CY2021Q1 us-gaap Defined Benefit Plan Expected Return On Plan Assets
DefinedBenefitPlanExpectedReturnOnPlanAssets
2700000 USD
CY2020Q1 us-gaap Defined Benefit Plan Expected Return On Plan Assets
DefinedBenefitPlanExpectedReturnOnPlanAssets
2200000 USD
CY2021Q1 us-gaap Defined Benefit Plan Amortization Of Prior Service Cost Credit
DefinedBenefitPlanAmortizationOfPriorServiceCostCredit
100000 USD
CY2020Q1 us-gaap Defined Benefit Plan Amortization Of Prior Service Cost Credit
DefinedBenefitPlanAmortizationOfPriorServiceCostCredit
0 USD
CY2021Q1 us-gaap Defined Benefit Plan Amortization Of Gains Losses
DefinedBenefitPlanAmortizationOfGainsLosses
-2100000 USD
CY2020Q1 us-gaap Defined Benefit Plan Amortization Of Gains Losses
DefinedBenefitPlanAmortizationOfGainsLosses
-1500000 USD
CY2021Q1 us-gaap Defined Benefit Plan Other Costs
DefinedBenefitPlanOtherCosts
-200000 USD
CY2020Q1 us-gaap Defined Benefit Plan Other Costs
DefinedBenefitPlanOtherCosts
0 USD
CY2021Q1 us-gaap Defined Benefit Plan Recognized Net Gain Loss Due To Settlements And Curtailments1
DefinedBenefitPlanRecognizedNetGainLossDueToSettlementsAndCurtailments1
-700000 USD
CY2020Q1 us-gaap Defined Benefit Plan Recognized Net Gain Loss Due To Settlements And Curtailments1
DefinedBenefitPlanRecognizedNetGainLossDueToSettlementsAndCurtailments1
0 USD
CY2021Q1 us-gaap Defined Benefit Plan Net Periodic Benefit Cost
DefinedBenefitPlanNetPeriodicBenefitCost
3000000.0 USD
CY2020Q1 us-gaap Defined Benefit Plan Net Periodic Benefit Cost
DefinedBenefitPlanNetPeriodicBenefitCost
2500000 USD
CY2021Q1 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
3300000 USD
CY2021Q1 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
3300000 USD
CY2021Q1 us-gaap Capital Lease Obligations Current
CapitalLeaseObligationsCurrent
10100000 USD
CY2020Q4 us-gaap Capital Lease Obligations Current
CapitalLeaseObligationsCurrent
10100000 USD
CY2021Q1 us-gaap Deferred Finance Costs Current Gross
DeferredFinanceCostsCurrentGross
100000 USD
CY2020Q4 us-gaap Deferred Finance Costs Current Gross
DeferredFinanceCostsCurrentGross
200000 USD
CY2021Q1 us-gaap Long Term Debt And Capital Lease Obligations Current
LongTermDebtAndCapitalLeaseObligationsCurrent
165000000.0 USD
CY2020Q4 us-gaap Long Term Debt And Capital Lease Obligations Current
LongTermDebtAndCapitalLeaseObligationsCurrent
9900000 USD
CY2021Q1 us-gaap Capital Lease Obligations Noncurrent
CapitalLeaseObligationsNoncurrent
28900000 USD
CY2020Q4 us-gaap Capital Lease Obligations Noncurrent
CapitalLeaseObligationsNoncurrent
29300000 USD
CY2021Q1 us-gaap Deferred Finance Costs Noncurrent Gross
DeferredFinanceCostsNoncurrentGross
8000000.0 USD
CY2020Q4 us-gaap Deferred Finance Costs Noncurrent Gross
DeferredFinanceCostsNoncurrentGross
8600000 USD
CY2021Q1 us-gaap Long Term Debt And Capital Lease Obligations
LongTermDebtAndCapitalLeaseObligations
1007900000 USD
CY2020Q4 us-gaap Long Term Debt And Capital Lease Obligations
LongTermDebtAndCapitalLeaseObligations
970700000 USD
CY2021Q1 us-gaap Debt And Capital Lease Obligations
DebtAndCapitalLeaseObligations
1172900000 USD
CY2020Q4 us-gaap Debt And Capital Lease Obligations
DebtAndCapitalLeaseObligations
980600000 USD
CY2021Q1 lii Maximum Securitization As Percentage Of Net Pool Balance
MaximumSecuritizationAsPercentageOfNetPoolBalance
1
CY2021Q1 lii Eligible Amount Available Under Asset Securitization
EligibleAmountAvailableUnderAssetSecuritization
240700000 USD
CY2020Q4 lii Eligible Amount Available Under Asset Securitization
EligibleAmountAvailableUnderAssetSecuritization
279100000 USD
CY2021Q1 lii Beneficial Interests Soldunder Asset Securitization
BeneficialInterestsSoldunderAssetSecuritization
155000000.0 USD
CY2020Q4 lii Beneficial Interests Soldunder Asset Securitization
BeneficialInterestsSoldunderAssetSecuritization
0 USD
CY2021Q1 lii Asset Securitization Borrowing Capacity
AssetSecuritizationBorrowingCapacity
85700000 USD
CY2020Q4 lii Asset Securitization Borrowing Capacity
AssetSecuritizationBorrowingCapacity
279100000 USD
CY2021Q1 lii Program Fee
ProgramFee
0.0070
CY2021Q1 lii Average Floating Commercial Paper Rate
AverageFloatingCommercialPaperRate
0.0082
CY2020Q4 lii Average Floating Commercial Paper Rate
AverageFloatingCommercialPaperRate
0
CY2021Q1 lii Percentage Of Maximum Available Amount Used To Charge Unused Fee
PercentageOfMaximumAvailableAmountUsedToChargeUnusedFee
1.01
CY2021Q1 lii Noncashpensionsettlementloss
Noncashpensionsettlementloss
700000 USD
CY2020Q1 lii Noncashpensionsettlementloss
Noncashpensionsettlementloss
0 USD
CY2020Q4 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
-97200000 USD
CY2021Q1 us-gaap Other Comprehensive Income Loss Before Reclassifications Net Of Tax
OtherComprehensiveIncomeLossBeforeReclassificationsNetOfTax
-800000 USD
CY2021Q1 us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Net Of Tax
ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodNetOfTax
1200000 USD
CY2021Q1 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-2000000.0 USD
CY2021Q1 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
-99200000 USD

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