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Income Statement

Income Statement

  Year Ending Dec 2018 (Update) Year Ending Dec 2017 (Reclassified) Year Ending Dec 2016 (Update) Year Ending Dec 2015 (Update)
Net Sales 3.03M 2.62M 2.27M 2.54M
Revenue 3.03M 2.62M 2.27M 2.54M
Total Revenue 3.03M 2.62M 2.27M 2.54M
Cost of Revenue 2.00M 1.75M 1.49M 1.69M
Cost of Revenue, Total 2.00M 1.75M 1.49M 1.69M
Gross Profit 1.03M 875.11 789.30 841.14
Selling/General/Administrative Expense 437.39 372.69 397.12 424.67
Labor & Related Expense 123.80 97.39
Advertising Expense
Selling/General/Administrative Expenses, Total 561.19 470.08 397.12 424.67
Research & Development 54.17 47.90 44.72 47.18
Investment Income - Operating 12.34 23.24 24.84 24.90
Interest/Investment Income - Operating 12.34 23.24 24.84 24.90
Interest Expense (Income), Net-Operating, Total 12.34 23.24 24.84 24.90
Other Unusual Expense (Income) 25.29 -43.06 34.35 162.70
Unusual Expense (Income) 25.29 -43.06 34.35 162.70
Total Operating Expense 2.65M 2.25M 1.99M 2.35M
Operating Income 375.54 376.94 288.27 181.70
Interest Expense - Non-Operating -24.50 -24.22 -19.08 -21.82
Interest Expense, Net Non-Operating -24.50 -24.22 -19.08 -21.82
Interest Income, Non-Operating 6.94 4.79 2.09 2.71
Investment Income, Non-Operating 5.48 2.74 2.93 3.02
Interest/Investment Income, Non-Operating 12.42 7.53 5.02 5.73
Interest Income (Expense), Net-Non-Operating, Total -12.08 -16.69 -14.06 -16.10
Other Non-Operating Income (Expense) 5.21 5.98 3.17 4.18
Other, Net 5.21 5.98 3.17 4.18
Net Income Before Taxes 368.66 366.24 277.39 169.79
Income Tax – Total 81.27 90.24 79.02 42.38
Income After Tax 287.39 276.00 198.37 127.41
Minority Interest 0.07 0.03 0.03 0.07
Net Income Before Extraordinary Items 287.47 276.03 198.40 127.48
Extraordinary Item -0.40 -28.52
Total Extraordinary Items -0.40 -28.52
Net Income 287.07 247.50 198.40 127.48
Income Available to Common Excluding Extraordinary Items 287.47 276.03 198.40 127.48
Income Available to Common Stocks Including Extraordinary Items 287.07 247.50 198.40 127.48
Basic Weighted Average Shares 64.89 65.74 67.46 74.11
Basic EPS Excluding Extraordinary Items 4.43 4.20 2.94 1.72
Basic EPS Including Extraordinary Items 4.42 3.76 2.94 1.72
Dilution Adjustment
Diluted Net Income 287.07 247.50 198.40 127.48
Diluted Weighted Average Shares 65.68 66.64 68.16 74.85
Diluted EPS Excluding Extraordinary Items 4.38 4.14 2.91 1.70
Diluted EPS Including Extraordinary Items 4.37 3.71 2.91 1.70
DPS - Common Stock Primary Issue 1.56 1.40 1.28 1.16
Gross Dividends - Common Stock 106.80 87.81 88.17 87.81
(Gain) Loss on Sale of Assets, Supplemental 6.32
Impairment-Assets Held for Use, Supplemental 6.32
Other Unusual Expense (Income), Supplemental 13.72
Non-Recurring Items, Total 26.35
Total Special Items 25.29 -43.06 34.35 189.05
Normalized Income Before Taxes 393.95 323.18 311.74 358.83
Effect of Special Items on Income Taxes 5.57 -10.61 9.78 47.18
Income Taxes Excluding Impact of Special Items 86.84 79.63 88.80 89.56
Normalized Income After Taxes 307.10 243.55 222.94 269.28
Normalized Income Available to Common 307.18 243.57 222.96 269.34
Basic Normalized EPS 4.73 3.71 3.31 3.63
Diluted Normalized EPS 4.68 3.65 3.27 3.60
Amortization of Intangibles, Supplemental 15.74 15.67 14.53 13.30
Depreciation, Supplemental 56.60 52.44 50.55 50.71
Interest Expense, Supplemental 24.50 24.22 19.08 21.82
Rental Expense, Supplemental 25.72 20.45 16.90 16.70
Stock-Based Compensation, Supplemental 18.55 12.70 10.33 7.93
Advertising Expense, Supplemental
Equity in Affiliates, Supplemental 5.48 2.74 2.93 3.02
Minority Interest, Supplemental 0.07 0.03 0.03 0.07
Research & Development Expense, Supplemental 54.17 47.90 44.72 47.18
Audit-Related Fees, Supplemental 3.32 3.47 3.08 3.14
Audit-Related Fees 0.07 0.01 0.01 0.09
Tax Fees, Supplemental 0.44 0.24 0.18 0.12
All Other Fees Paid to Auditor, Supplemental -- -- -- --
Gross Margin 33.96 33.34 34.70 33.17
Operating Margin 12.40 14.36 12.67 7.17
Pretax Margin 12.17 13.95 12.19 6.70
Effective Tax Rate 22.04 24.64 28.49 24.96
Net Profit Margin 9.49 10.52 8.72 5.03
Normalized EBIT 413.16 357.13 347.46 395.64
Normalized EBITDA 485.51 425.24 412.53 459.65
Current Tax - Domestic 44.79 46.13 57.09 60.50
Current Tax - Foreign 28.89 25.75 23.34 28.05
Current Tax - Local 10.52 7.64 8.39 9.56
Current Tax - Total 84.20 79.51 88.82 98.10
Deferred Tax - Domestic -0.36 10.14 -1.72 -47.90
Deferred Tax - Foreign -3.12 -0.08 -8.26 -3.36
Deferred Tax - Local 0.55 0.67 0.17 -4.46
Deferred Tax - Total -2.93 10.73 -9.81 -55.73
Income Tax - Total 81.27 90.24 79.02 42.38
Interest Cost - Domestic 21.79 22.75 23.58 36.00
Service Cost - Domestic 3.39 3.29 17.69 19.93
Prior Service Cost - Domestic 0.00 0.02 -0.39 -0.63
Expected Return on Assets - Domestic -32.11 -35.80 -35.72 -54.64
Actuarial Gains and Losses - Domestic 3.71 4.01 9.89 19.41
Curtailments & Settlements - Domestic 6.29 8.25 -1.06 142.74
Domestic Pension Plan Expense 3.07 2.52 13.99 162.82
Defined Contribution Expense - Domestic 26.48 25.29 8.36 10.91
Total Pension Expense 29.55 27.80 22.35 173.73
Discount Rate - Domestic 3.70 4.20 4.50 4.00
Expected Rate of Return - Domestic 5.00 6.00 6.10 6.30
Compensation Rate - Domestic 2.50 2.50 2.70 2.70
Total Plan Interest Cost 21.79 22.75 23.58 36.00
Total Plan Service Cost 3.39 3.29 17.69 19.93
Total Plan Expected Return -32.11 -35.80 -35.72 -54.64

For a more complete picture of our financial results, please review our SEC Filings

In millions of USD (except for per share items)

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