Lincoln Electric Holdings, Inc. (LECO) financial statements (2022 and earlier)

Company profile

Business Address 22801 ST CLAIR AVE
CLEVELAND, OH 44117
State of Incorp. OH
Fiscal Year End December 31
SIC 354 - Metalworking Machinery And Equipment (benchmarking)
More info Complete financial analysis Financial benchmarking

Balance sheet (Statement of financial position) ($ in millions)

12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments193257200359327379304
Cash and cash equivalents193257200359327379304
Receivables429373375397395274265
Inventory, net of allowances, customer advances and progress billings540381394362349255276
Inventory540381394362349255276
Prepaid expense    16  
Other current assets12810010812012413591
Other undisclosed current assets    164  
Total current assets:1,2901,1121,0761,2381,3741,044936
Noncurrent Assets
Property, plant and equipment512522529479477372411
Long-term investments and receivables  4  2759
Long-term investments  4  2759
Intangible assets, net (including goodwill)580470515429362362308
Goodwill430336337281235232188
Intangible assets, net (excluding goodwill)149134178148127130121
Regulated entity, other noncurrent assets  1   1
Deferred income tax assets1817 
Other noncurrent assets19319323718417815722
Prepaid pension costs6438
Other undisclosed noncurrent assets  92016(83)8
Total noncurrent assets:1,3031,2021,2961,1121,033900848
TOTAL ASSETS:2,5922,3142,3712,3502,4071,9431,784
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities472385386393387267291
Accounts payable330257273269270177153
Accrued liabilities      34
Employee-related liabilities109988394926766
Taxes payable      17
Interest and dividends payable33303030262323
Debt53335 224
Customer advances and deposits17202116
Other liabilities2311611421281209825
Other undisclosed current liabilities   0  34
Total current liabilities:756549563538529388370
Noncurrent Liabilities
Long-term debt and lease obligation, including:717715712703704704350
Long-term debt, excluding current maturities717715     
Other undisclosed long-term debt and lease obligation  712703704704350
Liabilities, other than long-term debt255259277222241139131
Accounts payable and accrued liabilities      20
Deferred tax liabilities, net6446414247
Deferred income tax liabilities5747 
Liability, pension and other postretirement and postemployment benefits      15
Other liabilities1992132121762019850
Total noncurrent liabilities:972975989924945843482
Total liabilities:1,7281,5241,5521,4621,4741,231852
Stockholders' equity
Stockholders' equity attributable to parent864789818887932711932
Common stock10101010101010
Treasury stock, value(2,310)(2,150)(2,042)(1,754)(1,554)(1,515)(1,181)
Additional paid in capital451410389360334309273
Accumulated other comprehensive loss(257)(302)(276)(294)(247)(329)(296)
Retained earnings2,9702,8212,7362,5642,3882,2362,126
Stockholders' equity attributable to noncontrolling interest(0)111111
Total stockholders' equity:864790819888932712932
TOTAL LIABILITIES AND EQUITY:2,5922,3142,3712,3502,4071,9431,784

Income statement (P&L) ($ in millions)

12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
Revenues3,2342,6553,0033,0292,6242,2752,536
Revenue, net3,0292,6242,2752,536
Cost of revenue
(Cost of Goods and Services Sold)
(2,166)(1,784)(1,996)(2,000)(1,744)(1,485)(1,695)
Gross profit:1,0698711,0081,029880789841
Operating expenses(607)(589)(637)(653)(544)(467)(517)
Other undisclosed operating income (loss)    42(34)(143)
Operating income:462282371376378288182
Nonoperating income (expense)(114)42111(11)(11)(12)
Investment income, nonoperating  37523
Other nonoperating income95155534
Interest and debt expense(24)(24)(26)(25)(24)(19)(22)
Income from continuing operations before equity method investments, income taxes:323262366362342258148
Other undisclosed income from continuing operations before income taxes2237241922
Income from continuing operations before income taxes:325264368369366277170
Income tax expense(48)(58)(75)(82)(119)(79)(42)
Net income:277206293287247198127
Net income (loss) attributable to noncontrolling interest(0)(0)00000
Net income available to common stockholders, diluted:276206293287248198127

Comprehensive Income ($ in millions)

12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
Net income:277206293287247198127
Other comprehensive income (loss)44(26)18(47)82(33)(8)
Comprehensive income:321180311240329165119
Comprehensive income (loss), net of tax, attributable to noncontrolling interest0(0)(0)0(0)01
Comprehensive income, net of tax, attributable to parent:321180311241329166120

Statements sources

The financial statements are based on the company's filings with the The U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

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