Lincoln electric holdings inc (LECO)
CashFlow / Quarterly
Mar'20Dec'19Sep'19Jun'19Mar'19Dec'18Sep'18Jun'18Mar'18Dec'17Sep'17Jun'17Mar'17Dec'16Sep'16Jun'16Mar'16Dec'15Sep'15Jun'15Mar'15Dec'14Sep'14Jun'14Mar'14Dec'13Sep'13Jun'13Mar'13Dec'12Sep'12Jun'12Mar'12Dec'11Sep'11Jun'11Mar'11Dec'10Sep'10Jun'10Mar'10
CASH FLOWS FROM OPERATING ACTIVITIES
Net Income (Loss) Available to Common Stockholders, Basic

55,562

63,716

72,461

85,452

71,480

86,839

70,539

68,864

60,824

24,181

106,126

61,352

55,844

53,395

60,049

31,317

53,638

48,692

-60,466

70,898

68,354

75,212

45,689

77,332

56,453

88,324

66,044

72,606

66,806

62,084

64,765

66,319

64,243

57,733

55,530

57,013

46,910

41,503

32,473

32,540

23,728

Non-controlling interests in subsidiaries’ earnings (loss)

-7

0

-4

-8

-14

-60

-4

-5

-4

4

-15

-21

4

6

-10

-8

-14

7

-15

-22

-36

123

-857

-43

-29

-259

-1,792

-79

37

-118

-29

46

-94

-42

-172

9

32

6

155

1,767

38

Net Income (Loss), Including Portion Attributable to Noncontrolling Interest

55,555

63,716

72,457

85,444

71,466

86,779

70,535

68,859

60,820

24,185

106,111

61,331

55,848

53,401

60,039

31,309

53,624

48,699

-60,481

70,876

68,318

75,335

44,832

77,289

56,424

88,065

64,252

72,527

66,843

61,966

64,736

66,365

64,149

57,691

55,358

57,022

46,942

41,509

32,628

34,307

23,766

Adjustments to reconcile Net income including non-controlling interests to Net cash provided by operating activities:
Rationalization and asset impairment net (gains) charges (Note 6)

-236

2,431

0

-355

1,424

-4,570

-2,034

-50

676

1,441

0

0

0

-

-

-

-

149

6,090

0

30

127

28,588

894

-35

43

4,695

240

114

1,383

357

0

0

0

0

-204

227

-

-

-

-

Depreciation and amortization

21,028

21,087

21,148

20,351

18,901

18,400

17,623

18,189

18,134

17,658

18,451

15,840

16,166

16,578

16,263

16,607

15,625

16,110

16,179

15,686

16,032

16,590

17,117

17,969

17,931

17,002

17,326

17,158

17,397

17,114

16,435

16,206

15,579

14,962

15,740

16,143

15,206

14,935

14,062

14,123

14,237

Equity earnings in affiliates, net

162

161

49

769

448

1,607

50

839

538

121

141

-195

270

197

6

56

2

278

-236

272

216

-53

404

701

796

347

431

446

436

-1,609

738

1,154

-443

655

758

196

362

-104

534

2

168

Deferred income taxes

-3,685

8,974

1,371

1,357

1,317

-2,954

-525

-2,986

7,955

929

-3,267

5,574

822

3,008

-4,650

-3,925

-4,238

1,962

-51,353

10,549

-16,886

11,732

6,481

-4,052

3,726

-3,206

1,319

6,467

13,237

-1,849

-17,760

12,087

5,385

10,147

-5,223

-1,420

11,635

5,245

3,776

2,671

-7,305

Stock-based compensation

3,691

4,022

3,857

4,596

4,149

4,971

3,762

5,402

4,419

2,732

3,334

3,364

3,268

2,816

2,673

2,689

2,154

1,990

2,053

1,932

1,957

2,148

1,683

2,292

2,293

2,223

2,532

2,511

2,468

2,250

2,246

2,235

2,230

1,887

1,786

1,469

1,468

1,643

2,244

2,350

1,976

Pension (income) expense and settlement charges (Note 13)

-

-

-

-

-

-

-

-

-

1,701

3,495

-1,334

-1,345

1,516

3,216

5,112

4,144

10,967

141,244

4,925

5,679

2,761

4,158

2,676

2,800

7,513

7,326

7,320

7,615

8,925

8,900

9,195

8,495

-

-

-

-

-

-

-

-

Amortization of terminated interest rate swaps

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-430

-

-470

-466

-460

-471

-470

-466

-460

Pension contributions and payments

-

-

-

-

-

-

-

-

-

-

-

-

-

-

582

712

20,865

1,426

4,416

26,471

21,234

1,429

10,479

2,083

22,081

2,939

3,066

26,030

55,321

11,832

18,765

19,356

19,693

-

-

-

-

-

-

-

-

Foreign Currency (Gain) Loss

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

1,189

-3,007

-18,150

-

2,490

200

1,162

-

-

-

-

-

-

-

-

-

-

-

-

Amortization of pension actuarial losses and prior service cost

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

5,428

5,460

5,457

-

5,189

5,063

5,311

Other, net

4,188

1,054

1,662

4,628

1,072

5,057

-2,197

3,070

5,072

-1,732

1,766

465

-1,901

24,720

-235

2,080

-5

-1,517

-2,783

-291

3,633

-20,445

-2,407

4,572

185

3,165

-4,060

-1,213

198

306

-819

1,733

-402

2,401

-2,103

-549

-740

5,072

-1,018

584

-3,147

Changes in operating assets and liabilities, net of effects from acquisitions:
Increase in accounts receivable

25,698

-26,291

-45,374

-5,629

26,900

-21,431

-14,415

-561

40,468

-7,489

-15,706

15,811

24,195

358

-10,437

5,801

16,592

-42,080

-28,343

-11,695

25,377

-28,264

-20,953

-544

43,885

-12,545

-25,385

-23,218

66,585

-44,009

-35,299

-8,203

29,752

-4,769

-3,436

32,399

43,324

-640

-1,274

9,593

40,279

Increase in inventories

17,401

-24,453

8,709

13,129

14,638

-17,629

13,634

-153

28,052

-41,974

-2,231

3,811

20,946

-22,274

-7,819

4,712

10,780

-28,243

-26,284

-17,773

16,233

-5,435

-6,302

2,298

15,157

-23,199

-2,419

-4,026

16,334

-35,118

-13,870

6,240

14,462

-47,048

-13,000

49,663

62,064

-28,299

11,139

23,055

23,017

Increase in other current assets

1,789

-11,042

7,908

-19,836

8,701

-13,405

-1,758

12,381

1,458

8,658

2,124

1,878

-4,517

949

-4,090

-8,937

10,546

15,206

35,398

-4,975

-25,657

-60,044

12,116

14,427

1,420

8,049

-4,651

-2,555

-3,654

-2,674

1,930

6,391

3,859

-5,682

9,765

-3,544

2,318

-7,836

-7,245

-11,361

21,486

Increase in other current assets

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

8,058

Decrease in trade accounts payable

-16,676

25,863

-18,733

-362

-15,107

21,159

-22,384

1,670

3,191

26,803

-21,551

5,455

7,164

15,705

-8,306

17,571

4,657

-12,282

-3,412

-18,301

-12,916

13,669

3,915

-3,341

-12,108

33,497

-20,863

-20,108

8,268

17,292

-17,565

-6,958

23,341

-26,316

-31,049

10,484

55,553

-6,992

5,850

10,149

38,316

Increase (decrease) in other current liabilities

13,482

-62,336

28,301

8,759

-5,947

-72,054

32,174

3,257

22,966

-61,345

25,102

5,414

30,816

-40,643

20,219

3,146

7,992

-50,287

38,595

-16,209

29,412

-84,998

38,035

36,260

6,967

-72,552

45,355

18,884

528

-63,706

52,859

9,800

22,934

-54,785

49,464

28,271

-2,112

-

-

-

-

Decrease in accrued pensions

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-7,404

-

-11,101

-10,558

-7,582

Net change in other assets and liabilities

1,949

2,070

-835

622

-1,434

1,624

-2,382

-1,016

-1,204

-2,420

329

-1,573

-2,494

-1,787

-1,854

272

460

-5,158

1,381

163

-2,194

-3,441

835

4,483

-1,007

878

-2,570

2,136

236

34,010

56,738

537

-4,402

478

302

616

2,446

-4,859

1,649

6,733

-520

NET CASH PROVIDED BY OPERATING ACTIVITIES

21,972

122,519

128,681

126,107

25,878

99,375

106,219

79,781

43,777

89,491

93,667

75,447

76,240

72,377

113,301

102,161

24,718

77,396

105,366

77,286

52,784

133,649

149,448

104,974

13,631

96,803

155,040

107,199

-20,148

84,143

82,455

81,722

79,164

63,140

84,802

28,838

16,738

53,264

55,971

32,147

15,596

CASH FLOWS FROM INVESTING ACTIVITIES
Capital expenditures

11,828

16,064

17,038

20,262

16,251

22,500

17,363

16,726

14,657

22,697

10,828

16,094

12,037

10,500

14,598

15,894

8,885

10,320

10,970

16,761

12,456

17,560

15,483

25,441

14,506

16,324

28,643

15,910

15,138

13,408

13,060

13,680

12,567

15,063

21,380

13,867

15,503

17,357

19,718

13,719

9,771

Payments to Acquire Businesses, Net of Cash Acquired

-

-

-

-

-

108,383

0

-356

-6,235

0

72,468

0

0

-

-

-

-

-

-

-

-

23,338

0

0

892

48,225

260

4,127

549

81,751

3,516

27,439

21,896

3,889

44,459

0

17,881

-

-

-

-

Proceeds from sale of property, plant and equipment

6,100

18

779

8,410

302

6,170

10,358

109

118

307

892

899

203

191

257

221

458

137

752

234

1,187

411

11,537

4,443

1,066

597

204

487

105

849

200

128

210

243

154

707

142

275

1,797

7,907

42

Purchase of marketable securities

-

-

-

-

-

0

49,668

129,122

89,545

60,031

75,619

35,009

34,925

38,920

0

0

0

-

-

-

-2,024

778

0

-205

-573

-2,500

0

4,217

0

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from marketable securities

-

-

-

-

-

99,281

89,445

126,767

131,966

60,190

200

1,190

3,800

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Other Investing Activities

0

0

0

0

-2,000

2,000

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

NET CASH (USED BY) PROVIDED BY INVESTING ACTIVITIES

-5,728

-14,028

-45,151

-119,695

-13,949

-27,432

32,772

-18,616

34,117

-22,231

-157,823

-49,014

-42,959

-49,655

-14,341

-87,523

-8,427

-13,377

-46,203

-16,527

-9,245

-40,487

-3,946

-20,793

-13,759

-61,452

-28,699

-23,767

-15,582

-94,310

-16,376

-42,532

-34,253

-18,709

-65,685

-13,160

-33,242

-34,756

-18,921

-5,994

-9,729

CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from short-term borrowings

126

-

-

-

0

-

-

-

-

-

-

-

-

0

0

597

1,295

1,887

8,889

212

1,517

2,989

6,984

133

1,018

442

274

124

390

227

222

790

1,279

14,488

2,070

3,893

2,773

-7,695

6,266

4,104

10,644

Payments on short-term borrowings

1,747

-

-

-

0

-

-

-

-

-

-

-

-

0

300

959

563

529

1,771

2,194

4,774

763

1,549

1,685

8,229

432

79

198

1,455

480

2,113

1,381

319

7,034

2,587

3,795

2,030

-7,020

4,852

1,422

13,642

Amounts due banks, net

99,400

21,990

-27,543

29,982

0

-196

-855

276

-60

111

-410

-299

107

-181,926

24,305

138,035

21,055

-377

-39,540

-101,919

104,370

-26,980

75,887

-519

590

593

282

-1,112

-280

-900

570

413

-2,841

2,807

-520

84

-1,168

-1,295

-13,828

-5,288

1,389

Proceeds from Issuance of Long-term Debt

-

-

-

-

-

-

-

-

-

0

19

0

15

350,000

0

37

224

1,411

203,869

150,000

2,500

8,697

0

57

0

-

-

-

-

4

0

0

914

-

-

-

-

87

33

0

30

Payments on long-term borrowings

2

101

1

2

3

100

1

3

3

2

3

22

12

14

16

196

255

206

1,077

3,559

2,103

1,726

65

73

1,435

153

73

77

147

153

1,311

1,193

83,031

343

355

349

894

7,691

382

236

421

Proceeds from exercise of stock options

1,047

8,137

5,250

323

637

242

1,849

637

1,962

2,294

936

7,754

5,643

14,631

4,703

3,700

2,015

1,396

564

2,303

1,733

3,171

1,935

1,054

2,956

4,220

2,873

3,546

9,658

6,081

483

4,772

7,440

4,140

1,012

3,335

2,864

2,189

311

812

196

Excess tax benefit from stock-based compensation

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

194

756

537

2,606

883

826

1,652

3,629

1,508

1,476

3,989

2,225

140

2,471

2,983

589

300

1,312

715

741

99

292

78

Purchase of shares for treasury (Note 8)

109,762

70,751

61,028

85,330

75,584

80,173

71,245

35,508

14,724

20,152

15,264

7,345

403

53,409

85,661

100,445

102,488

101,690

139,336

55,615

102,853

57,775

130,070

68,312

51,021

54,238

43,964

56,897

12,780

20,863

20,017

20,040

20,098

9,367

14,321

12,404

905

16,722

10,036

10,055

2,869

Cash dividends paid to shareholders

30,675

28,758

29,061

29,541

30,560

25,384

25,424

25,589

25,661

23,369

23,067

23,030

22,986

21,150

21,533

22,022

22,625

21,026

21,694

21,919

22,329

17,866

18,276

18,496

18,623

16,290

16,407

16,580

0

30,602

14,147

14,177

14,186

12,934

12,996

13,018

12,987

11,780

11,829

11,870

11,885

Other financing activities

-

-

-

-

-

-

-

-

-

9

-372

-15,182

-7

-799

0

-14,438

-3,806

18

-44

-7,976

-20

0

0

0

-2,330

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Transactions with Noncontrolling Interests

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

2,809

0

-

-

-

-

-

-

-

-

-

-

-

-

NET CASH USED BY FINANCING ACTIVITIES

-41,613

-69,483

-112,383

-84,568

-105,510

-105,611

-97,846

-60,187

-38,486

-41,109

-38,161

-38,124

-17,643

107,333

-78,502

4,309

-105,148

-120,603

10,054

-39,911

-21,422

-87,647

-64,271

-87,015

-75,422

-65,446

-55,586

-72,527

-625

-44,461

-36,173

-28,345

-107,859

-3,399

-27,397

-20,942

-11,632

-35,146

-34,218

-23,663

-16,480

Effect of Exchange Rate on Cash and Cash Equivalents

-10,819

3,943

-4,396

883

1,866

-5,683

-39

-12,940

2,947

1,097

6,035

5,986

6,623

-7,804

-549

-2,924

5,670

-3,578

-17,609

2,872

-11,479

-6,659

-5,993

1,732

-18,888

-389

3,165

-2,971

-1,654

417

2,806

-3,720

2,685

-1,391

-8,175

1,764

3,358

294

5,804

-5,197

-915

Cash and Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect

-36,188

42,951

-33,249

-77,273

-91,715

-39,351

41,106

-11,962

42,355

27,248

-96,282

-5,705

22,261

122,251

19,909

16,023

-83,187

-60,162

51,608

23,720

10,638

-1,144

75,238

-1,102

-94,438

-30,484

73,920

7,934

-38,009

-54,211

32,712

7,125

-60,263

39,641

-16,455

-3,500

-24,778

-16,344

8,636

-2,707

-11,528