$LINC
Lincoln Educational Services Corp

2023 Q1 Form 10-K Financial Statement

#000114036123010514 Filed on March 07, 2023

View on sec.gov

Income Statement

Concept 2023 Q1 2022 Q4 2022
Revenue $87.28M $91.78M $348.3M
YoY Change 5.73% 4.51% 3.86%
Cost Of Revenue $38.09M $36.51M $148.7M
YoY Change 5.24% 4.96% 7.06%
Gross Profit $49.19M $55.27M $199.5M
YoY Change 6.11% 4.22% 1.6%
Gross Profit Margin 56.36% 60.22% 57.29%
Selling, General & Admin $50.31M $42.89M $182.4M
YoY Change 7.76% 5.21% 7.97%
% of Gross Profit 102.27% 77.6% 91.41%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $1.255M $1.744M $6.362M
YoY Change -17.87% 14.74% -10.9%
% of Gross Profit 2.55% 3.16% 3.19%
Operating Expenses $50.31M $42.89M $182.4M
YoY Change 7.76% 5.21% 7.97%
Operating Profit -$1.116M $12.38M $16.28M
YoY Change 242.33% 0.92% -66.96%
Interest Expense $25.00K $272.0K $160.0K
YoY Change -41.86% -123.84% -92.06%
% of Operating Profit 2.2% 0.98%
Other Income/Expense, Net
YoY Change
Pretax Income -$674.0K $11.60M $16.44M
YoY Change 82.66% -64.75% -65.21%
Income Tax -$600.0K $3.041M $3.802M
% Of Pretax Income 26.22% 23.13%
Net Earnings -$109.0K $6.722M $12.63M
YoY Change -140.07% -71.95% -63.61%
Net Earnings / Revenue -0.12% 7.32% 3.63%
Basic Earnings Per Share $0.00 $0.36
Diluted Earnings Per Share $0.00 $0.25 $0.36
COMMON SHARES
Basic Shares Outstanding 31.51M 26.26M 25.88M
Diluted Shares Outstanding 30.04M 25.88M

Balance Sheet

Concept 2023 Q1 2022 Q4 2022
SHORT-TERM ASSETS
Cash & Short-Term Investments $55.04M $60.83M $60.83M
YoY Change -16.1% -26.98% -26.98%
Cash & Equivalents $40.28M $46.07M $46.07M
Short-Term Investments $14.76M $14.76M $14.76M
Other Short-Term Assets $15.06M $13.51M $13.51M
YoY Change 51.74% 43.11% 43.11%
Inventory $2.636M $2.618M $2.618M
Prepaid Expenses
Receivables $34.86M $37.18M $37.18M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $107.6M $114.1M $114.1M
YoY Change -4.81% -6.16% -6.16%
LONG-TERM ASSETS
Property, Plant & Equipment $26.15M $23.94M $117.0M
YoY Change -78.0% 3.55% 2.12%
Goodwill $14.54M $14.54M
YoY Change 0.25% 0.0%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $837.0K $812.0K $23.12M
YoY Change -96.57% 2.27% -5.62%
Total Long-Term Assets $173.5M $177.4M $177.4M
YoY Change -0.66% 2.16% 2.16%
TOTAL ASSETS
Total Short-Term Assets $107.6M $114.1M $114.1M
Total Long-Term Assets $173.5M $177.4M $177.4M
Total Assets $281.1M $291.6M $291.6M
YoY Change -2.29% -1.26% -1.26%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $12.94M $10.50M $10.50M
YoY Change -1.06% -14.65% -14.65%
Accrued Expenses $9.006M $8.653M $18.28M
YoY Change -56.11% -44.78% -32.65%
Deferred Revenue $21.00M $24.20M
YoY Change -0.94% -4.72%
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $54.57M $55.02M $55.02M
YoY Change -0.86% -16.49% -16.49%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $91.27M $91.67M $91.67M
YoY Change -0.86% 4.15%
Total Long-Term Liabilities $91.27M $91.67M $91.67M
YoY Change -0.86% 4.15%
TOTAL LIABILITIES
Total Short-Term Liabilities $54.57M $55.02M $55.02M
Total Long-Term Liabilities $91.27M $91.67M $91.67M
Total Liabilities $145.8M $146.7M $146.7M
YoY Change -0.86% -4.68% -4.68%
SHAREHOLDERS EQUITY
Retained Earnings $43.17M $51.23M
YoY Change 29.02%
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $135.3M $144.9M $144.9M
YoY Change
Total Liabilities & Shareholders Equity $281.1M $291.6M $291.6M
YoY Change -2.29% -1.26% -1.26%

Cashflow Statement

Concept 2023 Q1 2022 Q4 2022
OPERATING ACTIVITIES
Net Income -$109.0K $6.722M $12.63M
YoY Change -140.07% -71.95% -63.61%
Depreciation, Depletion And Amortization $1.255M $1.744M $6.362M
YoY Change -17.87% 14.74% -10.9%
Cash From Operating Activities -$214.0K $270.0K $882.0K
YoY Change -98.51% -97.22% -96.79%
INVESTING ACTIVITIES
Capital Expenditures $3.249M $1.933M $8.986M
YoY Change -408.25% -184.82% 19.32%
Acquisitions
YoY Change
Other Investing Activities $0.00 -$14.76M -$12.37M
YoY Change -100.0% -132.52% -127.25%
Cash From Investing Activities -$3.249M -$16.69M -$21.35M
YoY Change 210.91% -138.73% -156.42%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $9.445M
YoY Change
Debt Paid & Issued, Net $0.00
YoY Change -100.0%
Cash From Financing Activities -2.335M -2.911M -12.55M
YoY Change 1.7% -82.51% -37.3%
NET CHANGE
Cash From Operating Activities -214.0K 270.0K 882.0K
Cash From Investing Activities -3.249M -16.69M -21.35M
Cash From Financing Activities -2.335M -2.911M -12.55M
Net Change In Cash -5.798M -19.33M -33.02M
YoY Change -67.26% -153.47% -172.92%
FREE CASH FLOW
Cash From Operating Activities -$214.0K $270.0K $882.0K
Capital Expenditures $3.249M $1.933M $8.986M
Free Cash Flow -$3.463M -$1.663M -$8.104M
YoY Change -73.99% -113.89% -140.69%

Facts In Submission

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CY2021Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
83300000
CY2022 linc Maximum Maturity Period For Classification Of Cash Equivalents
MaximumMaturityPeriodForClassificationOfCashEquivalents
P3M
CY2022 us-gaap Advertising Expense
AdvertisingExpense
35000000
CY2021 us-gaap Advertising Expense
AdvertisingExpense
33100000
CY2022Q4 us-gaap Goodwill
Goodwill
14500000
CY2022Q4 linc Percentage Of Goodwill In Total Assets
PercentageOfGoodwillInTotalAssets
0.05
CY2022Q4 us-gaap Cash Fdic Insured Amount
CashFDICInsuredAmount
250000
CY2022Q4 us-gaap Cash Uninsured Amount
CashUninsuredAmount
39200000
CY2021 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
25080789
CY2022 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
25879483
CY2021 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
25080789
CY2021 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Expense
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestExpense
0
CY2022 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Expense
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestExpense
0
CY2022Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
0
CY2021Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
0
CY2022 linc Percentage Of Net Revenues On Cash Basis Indirectly Derived From Funds
PercentageOfNetRevenuesOnCashBasisIndirectlyDerivedFromFunds
0.74
CY2021 linc Percentage Of Net Revenues On Cash Basis Indirectly Derived From Funds
PercentageOfNetRevenuesOnCashBasisIndirectlyDerivedFromFunds
0.75
CY2021 linc Maximum Specified Percentage Of Net Revenues On Cash Basis Indirectly Derived From Funds
MaximumSpecifiedPercentageOfNetRevenuesOnCashBasisIndirectlyDerivedFromFunds
0.90
CY2022 linc Maximum Specified Percentage Of Net Revenues On Cash Basis Indirectly Derived From Funds
MaximumSpecifiedPercentageOfNetRevenuesOnCashBasisIndirectlyDerivedFromFunds
0.90
CY2022 linc Minimum Composite Required For Financial Responsibility
MinimumCompositeRequiredForFinancialResponsibility
1.5
CY2022 linc Composite Score For Financial Responsibility
CompositeScoreForFinancialResponsibility
2.9
CY2021 linc Composite Score For Financial Responsibility
CompositeScoreForFinancialResponsibility
3
CY2022 us-gaap Net Income Loss
NetIncomeLoss
12634000
CY2021 us-gaap Net Income Loss
NetIncomeLoss
34718000
CY2022 us-gaap Preferred Stock Dividends And Other Adjustments
PreferredStockDividendsAndOtherAdjustments
1111000
CY2021 us-gaap Preferred Stock Dividends And Other Adjustments
PreferredStockDividendsAndOtherAdjustments
1219000
CY2022 linc Allocation To Preferred Stockholders
AllocationToPreferredStockholders
1753000
CY2021 linc Allocation To Preferred Stockholders
AllocationToPreferredStockholders
5601000
CY2022 linc Allocation To Restricted Stockholders
AllocationToRestrictedStockholders
559000
CY2021 linc Allocation To Restricted Stockholders
AllocationToRestrictedStockholders
1796000
CY2022 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
9211000
CY2021 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
26102000
CY2022 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
25879483
CY2021 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
25080789
CY2022 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.36
CY2022 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.36
CY2021 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.04
CY2022 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
516233
CY2021 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
6206925
CY2022Q4 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
24200000
CY2021Q4 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
25400000
CY2022 us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
24600000
CY2022 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
348287000
CY2021 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
335336000
CY2022Q4 linc Approximate Area Of Leased School Space
ApproximateAreaOfLeasedSchoolSpace
55000
CY2022Q3 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
12200000
CY2022Q4 us-gaap Lessee Operating Lease Term Of Contract
LesseeOperatingLeaseTermOfContract
P12Y
CY2022 linc Number Of Renewal Options
NumberOfRenewalOptions
2
CY2022Q4 us-gaap Lessee Operating Lease Renewal Term
LesseeOperatingLeaseRenewalTerm
P5Y
us-gaap Capital Lease Obligations Incurred
CapitalLeaseObligationsIncurred
400000
us-gaap Payments For Rent
PaymentsForRent
300000
CY2022 us-gaap Operating Lease Cost
OperatingLeaseCost
18900000
CY2021 us-gaap Operating Lease Cost
OperatingLeaseCost
15800000
CY2021 us-gaap Variable Lease Cost
VariableLeaseCost
0
CY2022 us-gaap Operating Lease Payments
OperatingLeasePayments
18443000
CY2021 us-gaap Operating Lease Payments
OperatingLeasePayments
15404000
CY2022 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
13820000
CY2021 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
45456000
CY2022 linc Number Of New Leases
NumberOfNewLeases
4
CY2022 linc Number Of Lease Modifications
NumberOfLeaseModifications
1
CY2022 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
13800000
CY2022Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P11Y2M23D
CY2021Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P11Y5M19D
CY2022Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0712
CY2021Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0767
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
16283000
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
17257000
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
15319000
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
12816000
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
9532000
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive
69499000
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
140706000
CY2022Q4 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
40074000
CY2022Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
100632000
CY2020Q4 us-gaap Goodwill Gross
GoodwillGross
117176000
CY2020Q4 us-gaap Goodwill Impaired Accumulated Impairment Loss
GoodwillImpairedAccumulatedImpairmentLoss
102640000
CY2020Q4 us-gaap Goodwill
Goodwill
14536000
CY2021 us-gaap Goodwill Translation And Purchase Accounting Adjustments
GoodwillTranslationAndPurchaseAccountingAdjustments
0
CY2021 us-gaap Goodwill Translation And Purchase Accounting Adjustments
GoodwillTranslationAndPurchaseAccountingAdjustments
0
CY2021 us-gaap Goodwill Translation And Purchase Accounting Adjustments
GoodwillTranslationAndPurchaseAccountingAdjustments
0
CY2021Q4 us-gaap Goodwill Gross
GoodwillGross
117176000
CY2021Q4 us-gaap Goodwill Impaired Accumulated Impairment Loss
GoodwillImpairedAccumulatedImpairmentLoss
102640000
CY2021Q4 us-gaap Goodwill
Goodwill
14536000
CY2022 us-gaap Goodwill Translation And Purchase Accounting Adjustments
GoodwillTranslationAndPurchaseAccountingAdjustments
0
CY2022 us-gaap Goodwill Translation And Purchase Accounting Adjustments
GoodwillTranslationAndPurchaseAccountingAdjustments
0
CY2022 us-gaap Goodwill Translation And Purchase Accounting Adjustments
GoodwillTranslationAndPurchaseAccountingAdjustments
0
CY2022Q4 us-gaap Goodwill Gross
GoodwillGross
117176000
CY2022Q4 us-gaap Goodwill Impaired Accumulated Impairment Loss
GoodwillImpairedAccumulatedImpairmentLoss
102640000
CY2022Q4 us-gaap Goodwill
Goodwill
14536000
CY2022 us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
0
CY2022Q4 us-gaap Other Accrued Liabilities Current And Noncurrent
OtherAccruedLiabilitiesCurrentAndNoncurrent
1390000
CY2021Q4 us-gaap Other Accrued Liabilities Current And Noncurrent
OtherAccruedLiabilitiesCurrentAndNoncurrent
2275000
CY2022Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
170307000
CY2021Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
176454000
CY2022Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
146367000
CY2021Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
153335000
CY2022Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
23940000
CY2021Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
23119000
CY2022 linc Impairment Of Property Amount
ImpairmentOfPropertyAmount
400000
CY2022 us-gaap Impairment Of Long Lived Assets Held For Use
ImpairmentOfLongLivedAssetsHeldForUse
1000000
CY2022 linc Impairment Of Property Amount
ImpairmentOfPropertyAmount
400000
CY2022 us-gaap Operating Lease Impairment Loss
OperatingLeaseImpairmentLoss
600000
CY2021 linc Impairment Of Property Amount
ImpairmentOfPropertyAmount
700000
CY2021 us-gaap Impairment Of Real Estate
ImpairmentOfRealEstate
2900000
CY2021 linc Fair Value Estimate Current Value Of Property
FairValueEstimateCurrentValueOfProperty
2200000
CY2021 us-gaap Impairment Of Retained Interest
ImpairmentOfRetainedInterest
700000
CY2022Q2 us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
2400000
CY2022Q2 us-gaap Gain Loss On Disposition Of Assets
GainLossOnDispositionOfAssets
200000
CY2021 us-gaap Impairment Of Long Lived Assets Held For Use
ImpairmentOfLongLivedAssetsHeldForUse
0
CY2022 us-gaap Depreciation
Depreciation
6400000
CY2021 us-gaap Depreciation
Depreciation
7100000
CY2022Q4 us-gaap Employee Related Liabilities Current And Noncurrent
EmployeeRelatedLiabilitiesCurrentAndNoncurrent
5451000
CY2021Q4 us-gaap Employee Related Liabilities Current And Noncurrent
EmployeeRelatedLiabilitiesCurrentAndNoncurrent
11662000
CY2022Q4 us-gaap Accrued Rent Current And Noncurrent
AccruedRentCurrentAndNoncurrent
1812000
CY2021Q4 us-gaap Accrued Rent Current And Noncurrent
AccruedRentCurrentAndNoncurrent
1732000
CY2022Q4 us-gaap Accounts Payable And Accrued Liabilities Current And Noncurrent
AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent
8653000
CY2021Q4 us-gaap Accounts Payable And Accrued Liabilities Current And Noncurrent
AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent
15669000
CY2022Q2 us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
2400000
CY2022 linc Number Of Stock Incentive Plans
NumberOfStockIncentivePlans
3
CY2019Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
116000
CY2019Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
10.56
CY2019 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P1Y9M29D
CY2019Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
0
CY2020 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod
35000
CY2020 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice
16.95
CY2020 linc Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodTotalIntrinsicValue
0
CY2020Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
81000
CY2020Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
7.79
CY2020 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P1Y2M1D
CY2020Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
0
CY2021 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod
0
CY2021 linc Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodTotalIntrinsicValue
0
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
81000
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
7.79
CY2021 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P0Y2M1D
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
0
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod
81000
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice
7.79
CY2022 linc Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodTotalIntrinsicValue
0
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
0
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
0
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
0
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingNumber
0
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageExercisePrice
0
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Aggregate Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingAggregateIntrinsicValue
0
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
0
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableWeightedAverageExercisePrice
0
CY2022Q4 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
0
CY2022Q2 us-gaap Stock Repurchase Program Authorized Amount1
StockRepurchaseProgramAuthorizedAmount1
30000000
CY2022 us-gaap Stock Repurchase Program Period In Force1
StockRepurchaseProgramPeriodInForce1
P12M
CY2022 us-gaap Stock Repurchased During Period Shares
StockRepurchasedDuringPeriodShares
1572414
CY2022 us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
9400000
CY2021Q4 us-gaap Defined Benefit Plan Benefit Obligation
DefinedBenefitPlanBenefitObligation
22557000
CY2020Q4 us-gaap Defined Benefit Plan Benefit Obligation
DefinedBenefitPlanBenefitObligation
24358000
CY2022 us-gaap Defined Benefit Plan Service Cost
DefinedBenefitPlanServiceCost
37000
CY2021 us-gaap Defined Benefit Plan Service Cost
DefinedBenefitPlanServiceCost
37000
CY2022 us-gaap Defined Benefit Plan Interest Cost
DefinedBenefitPlanInterestCost
542000
CY2021 us-gaap Defined Benefit Plan Interest Cost
DefinedBenefitPlanInterestCost
492000
CY2022 us-gaap Defined Benefit Plan Actuarial Gain Loss
DefinedBenefitPlanActuarialGainLoss
4661000
CY2021 us-gaap Defined Benefit Plan Actuarial Gain Loss
DefinedBenefitPlanActuarialGainLoss
989000
CY2022 us-gaap Defined Benefit Plan Benefit Obligation Benefits Paid
DefinedBenefitPlanBenefitObligationBenefitsPaid
1362000
CY2021 us-gaap Defined Benefit Plan Benefit Obligation Benefits Paid
DefinedBenefitPlanBenefitObligationBenefitsPaid
1341000
CY2022Q4 us-gaap Defined Benefit Plan Benefit Obligation
DefinedBenefitPlanBenefitObligation
17113000
CY2021Q4 us-gaap Defined Benefit Plan Benefit Obligation
DefinedBenefitPlanBenefitObligation
22557000
CY2021Q4 us-gaap Defined Benefit Plan Fair Value Of Plan Assets
DefinedBenefitPlanFairValueOfPlanAssets
20950000
CY2020Q4 us-gaap Defined Benefit Plan Fair Value Of Plan Assets
DefinedBenefitPlanFairValueOfPlanAssets
20106000
CY2022 us-gaap Defined Benefit Plan Actual Return On Plan Assets
DefinedBenefitPlanActualReturnOnPlanAssets
-3143000
CY2021 us-gaap Defined Benefit Plan Actual Return On Plan Assets
DefinedBenefitPlanActualReturnOnPlanAssets
2185000
CY2022 us-gaap Defined Benefit Plan Plan Assets Benefits Paid
DefinedBenefitPlanPlanAssetsBenefitsPaid
1362000
CY2021 us-gaap Defined Benefit Plan Plan Assets Benefits Paid
DefinedBenefitPlanPlanAssetsBenefitsPaid
1341000
CY2022Q4 us-gaap Defined Benefit Plan Fair Value Of Plan Assets
DefinedBenefitPlanFairValueOfPlanAssets
16445000
CY2021Q4 us-gaap Defined Benefit Plan Fair Value Of Plan Assets
DefinedBenefitPlanFairValueOfPlanAssets
20950000
CY2022Q4 us-gaap Defined Benefit Plan Funded Status Of Plan
DefinedBenefitPlanFundedStatusOfPlan
668000
CY2021Q4 us-gaap Defined Benefit Plan Funded Status Of Plan
DefinedBenefitPlanFundedStatusOfPlan
1607000
CY2022 us-gaap Defined Benefit Plan Actuarial Gain Loss
DefinedBenefitPlanActuarialGainLoss
4700000
CY2021 us-gaap Defined Benefit Plan Assumptions Used Calculating Net Periodic Benefit Cost Discount Rate
DefinedBenefitPlanAssumptionsUsedCalculatingNetPeriodicBenefitCostDiscountRate
0.025
CY2022 us-gaap Defined Benefit Plan Assumptions Used Calculating Net Periodic Benefit Cost Discount Rate
DefinedBenefitPlanAssumptionsUsedCalculatingNetPeriodicBenefitCostDiscountRate
0.049
CY2022Q4 us-gaap Pension And Other Postretirement Defined Benefit Plans Liabilities Noncurrent
PensionAndOtherPostretirementDefinedBenefitPlansLiabilitiesNoncurrent
668000
CY2021Q4 us-gaap Pension And Other Postretirement Defined Benefit Plans Liabilities Noncurrent
PensionAndOtherPostretirementDefinedBenefitPlansLiabilitiesNoncurrent
1607000
CY2021 us-gaap Pension Contributions
PensionContributions
0
CY2022 us-gaap Defined Contribution Plan Maximum Annual Contributions Per Employee Percent
DefinedContributionPlanMaximumAnnualContributionsPerEmployeePercent
0.25
CY2022 us-gaap Defined Contribution Plan Employer Matching Contribution Percent
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0.30
CY2022 linc Defined Contribution Plan Maximum Percentage Of Participant Contribution Eligible For Employer Contribution Match
DefinedContributionPlanMaximumPercentageOfParticipantContributionEligibleForEmployerContributionMatch
0.06
CY2021 us-gaap Deferred Compensation Arrangement With Individual Compensation Expense
DeferredCompensationArrangementWithIndividualCompensationExpense
700000
CY2022 us-gaap Defined Benefit Plan Amounts Recognized In Other Comprehensive Income Loss Net Gain Loss Before Tax
DefinedBenefitPlanAmountsRecognizedInOtherComprehensiveIncomeLossNetGainLossBeforeTax
2480000
CY2021 us-gaap Defined Benefit Plan Amounts Recognized In Other Comprehensive Income Loss Net Gain Loss Before Tax
DefinedBenefitPlanAmountsRecognizedInOtherComprehensiveIncomeLossNetGainLossBeforeTax
2862000
CY2022 linc Defined Benefit Plan Amounts Recognized In Other Comprehensive Income Loss Deferred Income Taxes
DefinedBenefitPlanAmountsRecognizedInOtherComprehensiveIncomeLossDeferredIncomeTaxes
1520000
CY2021 linc Defined Benefit Plan Amounts Recognized In Other Comprehensive Income Loss Deferred Income Taxes
DefinedBenefitPlanAmountsRecognizedInOtherComprehensiveIncomeLossDeferredIncomeTaxes
1622000
CY2022Q4 us-gaap Accumulated Other Comprehensive Income Loss Defined Benefit Pension And Other Postretirement Plans Net Of Tax
AccumulatedOtherComprehensiveIncomeLossDefinedBenefitPensionAndOtherPostretirementPlansNetOfTax
960000
CY2021Q4 us-gaap Accumulated Other Comprehensive Income Loss Defined Benefit Pension And Other Postretirement Plans Net Of Tax
AccumulatedOtherComprehensiveIncomeLossDefinedBenefitPensionAndOtherPostretirementPlansNetOfTax
1240000
CY2022Q4 us-gaap Defined Benefit Plan Accumulated Benefit Obligation
DefinedBenefitPlanAccumulatedBenefitObligation
17100000
CY2021Q4 us-gaap Defined Benefit Plan Accumulated Benefit Obligation
DefinedBenefitPlanAccumulatedBenefitObligation
22600000
CY2022 us-gaap Defined Benefit Plan Service Cost
DefinedBenefitPlanServiceCost
37000
CY2021 us-gaap Defined Benefit Plan Service Cost
DefinedBenefitPlanServiceCost
37000
CY2022 us-gaap Defined Benefit Plan Interest Cost
DefinedBenefitPlanInterestCost
542000
CY2021 us-gaap Defined Benefit Plan Interest Cost
DefinedBenefitPlanInterestCost
492000
CY2022 us-gaap Defined Benefit Plan Expected Return On Plan Assets
DefinedBenefitPlanExpectedReturnOnPlanAssets
1217000
CY2021 us-gaap Defined Benefit Plan Expected Return On Plan Assets
DefinedBenefitPlanExpectedReturnOnPlanAssets
1021000
CY2022 us-gaap Defined Benefit Plan Recognized Net Gain Loss Due To Settlements And Curtailments1
DefinedBenefitPlanRecognizedNetGainLossDueToSettlementsAndCurtailments1
-81000
CY2021 us-gaap Defined Benefit Plan Recognized Net Gain Loss Due To Settlements And Curtailments1
DefinedBenefitPlanRecognizedNetGainLossDueToSettlementsAndCurtailments1
-640000
CY2022 us-gaap Defined Benefit Plan Net Periodic Benefit Cost
DefinedBenefitPlanNetPeriodicBenefitCost
-557000
CY2021 us-gaap Defined Benefit Plan Net Periodic Benefit Cost
DefinedBenefitPlanNetPeriodicBenefitCost
148000
CY2022Q4 us-gaap Defined Benefit Plan Fair Value Of Plan Assets
DefinedBenefitPlanFairValueOfPlanAssets
16445000
CY2021Q4 us-gaap Defined Benefit Plan Fair Value Of Plan Assets
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20950000
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CY2022 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
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CY2021 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
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CY2021 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
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CY2021Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Allowance For Doubtful Accounts
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CY2022Q4 linc Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Accrued Benefits
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0
CY2021Q4 linc Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Accrued Benefits
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656000
CY2022Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Share Based Compensation Cost
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541000
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641000
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39000
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70000
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67000
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CY2022Q4 us-gaap Deferred Tax Assets Net
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CY2022 linc Operating Loss Carryforwards Minimum Percentage Of Ownership Change
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CY2022 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
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335336000
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31466000
CY2022Q4 us-gaap Valuation Allowances And Reserves Balance
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CY2020Q4 us-gaap Valuation Allowances And Reserves Balance
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31921000
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23512000

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