SEC Filings

10-Q
LINCOLN ELECTRIC HOLDINGS INC filed this Form 10-Q on 10/30/2017
Entire Document
 

PART II.  OTHER INFORMATION
ITEM 1.  LEGAL PROCEEDINGS
The Company is subject, from time to time, to a variety of civil and administrative proceedings arising out of its normal operations, including, without limitation, product liability claims, regulatory claims and health, safety and environmental claims. Among such proceedings are the cases described below.
As of September 30, 2017, the Company was a co-defendant in cases alleging asbestos-induced illness involving claims by approximately 3,751 plaintiffs, which is a net decrease of 33 claims from those previously reported. In each instance, the Company is one of a large number of defendants. The asbestos claimants seek compensatory and punitive damages, in most cases for unspecified sums. Since January 1, 1995, the Company has been a co-defendant in other similar cases that have been resolved as follows: 54,573 of those claims were dismissed, 23 were tried to defense verdicts, seven were tried to plaintiff verdicts (one of which was appealed by defendants and was remanded to the trial court for a new trial), one was resolved by agreement for an immaterial amount and 774 were decided in favor of the Company following summary judgment motions.

ITEM 1A. RISK FACTORS
In addition to the other information set forth in this report, the reader should carefully consider the factors discussed in “Item 1A. Risk Factors” in the Company’s Annual Report on Form 10-K for the year ended December 31, 2016, which could materially affect the Company’s business, financial condition or future results.

ITEM 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS
Issuer purchases of its common shares during the third quarter of 2017 were as follows:
Period
 
Total Number of
Shares Repurchased
 
Average Price
Paid Per Share
 
Total Number of
Shares Repurchased
as Part of Publicly
Announced Plans or
Programs
 
Maximum Number of
Shares that May Yet be
Purchased Under the
Plans or Programs (1)
July 1 - 31, 2017
 

 
$

 

 
8,802,894

August 1 - 31, 2017
 
98,297

 
86.65

 
98,297

 
8,704,597

September 1 - 30, 2017
 
75,722

 
89.10

 
75,722

 
8,628,875

Total
 
174,019

 
87.72

 
174,019

 
 
_______________________________________________________________________________
(1)
On April 20, 2016, the Company announced that the Board of Directors authorized a new share repurchase program, which increased the total number of the Company’s common shares authorized to be repurchased to 55 million shares.  Total shares purchased through the share repurchase programs were 46.4 million shares at a total cost of $1.7 billion for a weighted average cost of $35.85 per share through September 30, 2017.
 

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