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Income Statement

Income Statement

  Year Ending Dec 2019 (Update) Year Ending Dec 2018 (Update) Year Ending Dec 2017 (Reclassified) Year Ending Dec 2016 (Update)
Net Sales 3.00M 3.03M 2.62M 2.27M
Revenue 3.00M 3.03M 2.62M 2.27M
Total Revenue 3.00M 3.03M 2.62M 2.27M
Cost of Revenue 2.00M 2.00M 1.75M 1.49M
Cost of Revenue, Total 2.00M 2.00M 1.75M 1.49M
Gross Profit 1.00M 1.03M 875.11 789.30
Selling/General/Administrative Expense 447.62 437.39 372.69 397.12
Labor & Related Expense 100.38 123.80 97.39
Advertising Expense
Selling/General/Administrative Expenses, Total 548.00 561.19 470.08 397.12
Research & Development 56.85 54.17 47.90 44.72
Investment Income - Operating 18.45 12.34 23.24 24.84
Interest/Investment Income - Operating 18.45 12.34 23.24 24.84
Interest Expense (Income), Net-Operating, Total 18.45 12.34 23.24 24.84
Loss (Gain) on Sale of Assets - Operating -3.05
Other Unusual Expense (Income) 5.78 25.29 -43.06 34.35
Unusual Expense (Income) 2.74 25.29 -43.06 34.35
Total Operating Expense 2.62M 2.65M 2.25M 1.99M
Operating Income 378.51 375.54 376.94 288.27
Interest Expense - Non-Operating -25.94 -24.50 -24.22 -19.08
Interest Expense, Net Non-Operating -25.94 -24.50 -24.22 -19.08
Interest Income, Non-Operating 2.53 6.94 4.79 2.09
Investment Income, Non-Operating 3.16 5.48 2.74 2.93
Interest/Investment Income, Non-Operating 5.69 12.42 7.53 5.02
Interest Income (Expense), Net-Non-Operating, Total -20.25 -12.08 -16.69 -14.06
Other Non-Operating Income (Expense) 10.23 5.21 5.98 3.17
Other, Net 10.23 5.21 5.98 3.17
Net Income Before Taxes 368.49 368.66 366.24 277.39
Income Tax – Total 75.41 81.27 90.24 79.02
Income After Tax 293.08 287.39 276.00 198.37
Minority Interest 0.03 0.07 0.03 0.03
Net Income Before Extraordinary Items 293.11 287.47 276.03 198.40
Extraordinary Item -- -0.40 -28.52
Total Extraordinary Items -- -0.40 -28.52
Net Income 293.11 287.07 247.50 198.40
Income Available to Common Excluding Extraordinary Items 293.11 287.47 276.03 198.40
Income Available to Common Stocks Including Extraordinary Items 293.11 287.07 247.50 198.40
Basic Weighted Average Shares 61.96 64.89 65.74 67.46
Basic EPS Excluding Extraordinary Items 4.73 4.43 4.20 2.94
Basic EPS Including Extraordinary Items 4.73 4.42 3.76 2.94
Dilution Adjustment
Diluted Net Income 293.11 287.07 247.50 198.40
Diluted Weighted Average Shares 62.66 65.68 66.64 68.16
Diluted EPS Excluding Extraordinary Items 4.68 4.38 4.14 2.91
Diluted EPS Including Extraordinary Items 4.68 4.37 3.71 2.91
DPS - Common Stock Primary Issue 1.88 1.56 1.40 1.28
Gross Dividends - Common Stock 117.95 106.80 87.81 88.17
(Gain) Loss on Sale of Assets, Supplemental
Impairment-Assets Held for Use, Supplemental
Other Unusual Expense (Income), Supplemental --
Non-Recurring Items, Total --
Total Special Items 2.74 25.29 -43.06 34.35
Normalized Income Before Taxes 371.23 393.95 323.18 311.74
Effect of Special Items on Income Taxes 7.39 5.57 -10.61 9.78
Income Taxes Excluding Impact of Special Items 82.80 86.84 79.63 88.80
Normalized Income After Taxes 288.44 307.10 243.55 222.94
Normalized Income Available to Common 288.46 307.18 243.57 222.96
Basic Normalized EPS 4.66 4.73 3.71 3.31
Diluted Normalized EPS 4.60 4.68 3.65 3.27
Amortization of Intangibles, Supplemental 20.76 15.74 15.67 14.53
Depreciation, Supplemental 60.73 56.60 52.44 50.55
Interest Expense, Supplemental 25.94 24.50 24.22 19.08
Rental Expense, Supplemental 25.39 25.72 20.45 16.90
Stock-Based Compensation, Supplemental 16.62 18.55 12.70 10.33
Advertising Expense, Supplemental
Equity in Affiliates, Supplemental 3.16 5.48 2.74 2.93
Minority Interest, Supplemental 0.03 0.07 0.03 0.03
Research & Development Expense, Supplemental 56.85 54.17 47.90 44.72
Audit-Related Fees, Supplemental 3.32 3.47 3.08
Audit-Related Fees 0.07 0.01 0.01
Tax Fees, Supplemental 0.44 0.24 0.18
All Other Fees Paid to Auditor, Supplemental -- -- --
Gross Margin 33.45 33.96 33.34 34.70
Operating Margin 12.60 12.40 14.36 12.67
Pretax Margin 12.27 12.17 13.95 12.19
Effective Tax Rate 20.46 22.04 24.64 28.49
Net Profit Margin 9.76 9.49 10.52 8.72
Normalized EBIT 399.69 413.16 357.13 347.46
Normalized EBITDA 481.18 485.51 425.24 412.53
Current Tax - Domestic 25.06 44.79 46.13 57.09
Current Tax - Foreign 26.54 28.89 25.75 23.34
Current Tax - Local 9.06 10.52 7.64 8.39
Current Tax - Total 60.67 84.20 79.51 88.82
Deferred Tax - Domestic 6.97 -0.36 10.14 -1.72
Deferred Tax - Foreign 6.51 -3.12 -0.08 -8.26
Deferred Tax - Local 1.26 0.55 0.67 0.17
Deferred Tax - Total 14.74 -2.93 10.73 -9.81
Income Tax - Total 75.41 81.27 90.24 79.02
Interest Cost - Domestic 18.61 21.79 22.75 23.58
Service Cost - Domestic 0.14 3.39 3.29 17.69
Prior Service Cost - Domestic -- 0.00 0.02 -0.39
Expected Return on Assets - Domestic -24.98 -32.11 -35.80 -35.72
Actuarial Gains and Losses - Domestic 1.65 3.71 4.01 9.89
Curtailments & Settlements - Domestic -- 6.29 8.25 -1.06
Domestic Pension Plan Expense -4.58 3.07 2.52 13.99
Interest Cost - Foreign 3.74
Service Cost - Foreign 2.91
Prior Service Cost - Foreign 0.06
Expected Return on Assets - Foreign -4.43
Curtailments & Settlements - Foreign 0.27
Other Pension, Net - Foreign 2.30
Foreign Pension Plan Expense 4.84
Defined Contribution Expense - Domestic 24.84 26.48 25.29 8.36
Total Pension Expense 25.10 29.55 27.80 22.35
Discount Rate - Domestic 4.40 3.70 4.20 4.50
Discount Rate - Foreign 2.30
Expected Rate of Return - Domestic 5.00 5.00 6.00 6.10
Expected Rate of Return - Foreign 4.50
Compensation Rate - Domestic 2.50 2.50 2.50 2.70
Compensation Rate - Foreign 2.80
Total Plan Interest Cost 22.35 21.79 22.75 23.58
Total Plan Service Cost 3.05 3.39 3.29 17.69
Total Plan Expected Return -29.41 -32.11 -35.80 -35.72
Total Plan Other Expense 2.30

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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