LINCOLN ELECTRIC HOLDINGS INC LECO Income Statement

Lincoln electric holdings inc (LECO)

Income statement / Quarterly

Mar'20	Dec'19	Sep'19	Jun'19	Mar'19	Dec'18	Sep'18	Jun'18	Mar'18	Dec'17	Sep'17	Jun'17	Mar'17	Dec'16	Sep'16	Jun'16	Mar'16	Dec'15	Sep'15	Jun'15	Mar'15	Dec'14	Sep'14	Jun'14	Mar'14	Dec'13	Sep'13	Jun'13	Mar'13	Dec'12	Sep'12	Jun'12	Mar'12	Dec'11	Sep'11	Jun'11	Mar'11	Dec'10	Sep'10	Jun'10	Mar'10	Sep'09	Jun'09
Revenue from Contract with Customer, Including Assessed Tax
701,991	736,307	730,783	777,008	759,174	743,827	737,099	790,052	757,696	747,185	669,491	626,858	580,897	563,828	567,646	592,418	550,722	567,985	645,166	664,740	657,900	683,954	715,777	728,531	685,062	714,791	691,875	727,432	718,573	684,648	697,552	744,045	727,122	694,513	701,624	699,293	599,179	564,292	519,338	515,584	470,958	441,802	413,283
Cost of goods sold
464,669	495,373	492,432	507,127	500,753	493,528	485,547	519,936	501,142	508,933	451,610	410,547	378,234	369,110	367,834	389,491	361,620	371,906	446,272	438,959	437,510	452,869	474,168	478,264	458,726	471,744	459,178	487,094	492,001	471,616	484,190	519,048	511,857	500,170	516,172	503,789	437,741	416,460	375,267	367,001	347,625	316,671	306,892
Gross profit
237,322	240,934	238,351	269,881	258,421	250,299	251,552	270,116	256,554	238,252	217,881	216,311	202,663	194,718	199,812	202,927	189,102	196,079	198,894	225,781	220,390	231,085	241,609	250,267	226,336	243,047	232,697	240,338	226,572	213,032	213,362	224,997	215,265	194,343	185,452	195,504	161,438	147,832	144,071	148,583	123,333	125,131	106,391
Selling, general & administrative expenses
149,727	149,381	148,312	163,388	160,408	154,437	148,129	163,940	161,191	153,405	133,826	130,738	123,256	116,307	117,983	120,497	113,810	110,803	128,299	127,755	129,891	126,002	136,424	137,156	145,915	123,883	131,217	135,215	136,891	122,290	121,602	127,714	123,615	111,981	110,629	115,546	101,619	93,321	95,612	101,065	87,775	84,648	79,482
Rationalization and asset impairment charges (Note 6)
6,521	8,851	1,495	1,307	3,535	932	2,636	11,542	10,175	6,590	0	0	0	-	-	-	-	-	18,285	1,239	-	166	29,068	836	-17	259	6,302	851	1,051	5,037	3,059	1,258	0	0	0	-75	357	2,175	269	-3,629	801	7,144	6,877
Pension settlement charges (Note 12)
-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	-	-	-136,331	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Loss on deconsolidation of Venezuelan subsidiary (Note 1)
-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-34,348	-	-	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Bargain purchase gain (Note 5)
-	-	-	-	-	-	-	-	-	-	51,585	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Operating income
81,074	82,702	88,544	105,186	94,478	94,930	100,787	94,634	85,188	76,322	135,640	85,573	79,407	78,411	81,829	48,082	75,292	78,435	-84,021	96,787	90,499	104,917	76,117	112,275	80,438	118,905	95,178	104,272	88,630	85,705	88,701	96,025	91,650	82,362	74,823	80,033	59,462	52,336	48,190	51,147	34,757	33,339	20,032
Interest Income (Expense), Net
-5,458	-5,794	-6,400	-5,898	-5,323	-4,343	-3,969	-4,812	-4,441	-4,448	-4,595	-5,052	-5,337	-18,212	360	435	430	691	692	738	593	628	627	924	914	868	536	890	1,026	1,340	916	849	883	685	1,167	661	608	600	602	544	635	716	952
Other income (expense):
Equity earnings in affiliates
-	-	-	-	-	-	-	-	-	-	-	-	-	-	619	839	626	877	310	979	849	1,104	1,172	1,575	1,561	1,119	1,170	1,258	1,259	743	1,566	2,006	692	1,352	1,488	1,715	830	487	1,070	1,184	430	-8,692	4,555
Other income
-	-	-	-	-	-	-	-	-	-	-	-	-	-	1,303	588	661	959	296	317	2,610	791	1,043	1,078	1,083	1,053	1,514	913	714	670	746	403	866	695	147	712	1,295	493	628	263	433	1,030	918
Interest expense
-	-	-	-	-	-	-	-	-	-	-	-	-	7,251	3,815	4,186	3,827	9,790	5,803	4,387	1,844	6,704	1,174	986	1,570	557	558	799	950	853	1,040	1,126	1,172	1,667	1,752	1,627	1,658	1,940	1,671	1,566	1,514	2,032	1,953
Other income (expense) (Note 14)
309	3,386	9,653	4,196	3,763	3,868	-1,074	4,441	3,451	1,854	-403	3,445	3,830	16,728	-1,533	-2,324	-2,110	-7,263	-4,505	-2,353	2,208	-4,181	1,668	2,591	1,988	2,483	2,662	2,262	2,049	1,900	2,188	2,132	1,269	1,065	1,050	1,461	1,075	-360	629	425	-16	-8,978	4,472
Income before income taxes
75,925	80,294	91,797	103,484	92,918	94,455	95,744	94,263	84,198	73,728	130,642	83,966	77,900	78,152	80,296	45,758	73,182	71,172	-88,526	94,434	92,707	100,736	77,785	114,866	82,426	121,388	97,840	106,534	90,679	87,605	90,889	98,157	92,919	83,427	75,873	81,494	60,537	51,976	48,819	51,572	34,741	24,361	24,504
Income taxes (Note 15)
20,370	16,578	19,340	18,040	21,452	7,676	25,209	25,404	23,378	49,543	24,531	22,635	22,052	24,751	20,257	14,449	19,558	22,473	-28,045	23,558	24,389	25,401	32,953	37,577	26,002	33,323	33,588	34,007	23,836	25,639	26,153	31,792	28,770	25,736	20,515	24,472	13,595	10,467	16,191	17,265	10,975	11,474	8,797
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	12,887	15,707
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	130	639
Net income
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	12,757	15,068
Basic weighted average shares outstanding (in shares)
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	84,268	84,612	42,404	42,396	42,389
Effect of dilutive securities - stock options and awards (in shares)
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	803	804	360	246	203
Diluted weighted average shares outstanding (in shares)
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	85,071	85,416	42,764	42,642	42,592
Basic earnings per share (Note 3)
0.92	1.05	1.18	1.37	1.13	1.35	1.09	1.05	0.93	0.37	1.61	0.93	0.85	0.81	0.90	0.46	0.77	0.69	-0.82	0.95	0.90	0.97	0.58	0.97	0.70	1.08	0.81	0.88	0.81	0.75	0.78	0.80	0.77	0.69	0.66	0.69	0.56	0.21	0.39	0.38	0.56	0.30	0.36
Diluted earnings per share (Note 3)
0.91	1.03	1.17	1.36	1.12	1.34	1.07	1.04	0.92	0.36	1.59	0.92	0.84	0.81	0.89	0.45	0.76	0.69	-0.82	0.94	0.89	0.96	0.57	0.96	0.69	1.07	0.80	0.87	0.80	0.74	0.77	0.79	0.76	0.67	0.66	0.68	0.55	0.22	0.38	0.38	0.55	0.30	0.35
Cash dividends declared per share
0.49	0.49	0.47	0.47	0.47	0.47	0.39	0.39	0.39	0.39	0.35	0.35	0.35	0.35	0.32	0.32	0.32	0.32	0.29	0.29	0.29	0.29	0.23	0.23	0.23	0.23	0.20	0.20	0.20	0.20	0.17	0.17	0.17	0.17	0.15	0.15	0.15	0.01	0.14	0.14	0.28	0.27	0.27