US-listed companies
LINCOLN ELECTRIC HOLDINGS INC

LINCOLN ELECTRIC HOLDINGS INCLECO

Market cap

$10.9B

P/E ratio

20x

Income statement Balance sheet Cash flow

	Dec 31, 2010	Dec 31, 2011	Dec 31, 2012	Dec 31, 2013	Dec 31, 2014	Dec 31, 2015	Dec 31, 2016	Dec 31, 2017	Dec 31, 2018	Dec 31, 2019	Dec 31, 2020	Dec 31, 2021	Dec 31, 2022	Dec 31, 2023
Cash and cash equivalents	366	361	286	300	278	304	379	327	359	200	257	193	197	394
Accounts Receivable, Net, Current	322	386	361	367	322	265	274	395	397	375	373	429	542	539
Inventory, Net	292	373	365	350	331	276	255	349	362	394	381	540	665	563
Other current assets	76	79	104	103	158	91	135	124	120	108	100	128	154	198
Total Current Assets	1,083	1,219	1,133	1,131	1,099	936	1,044	1,374	1,238	1,076	1,112	1,290	1,558	1,693
Property, Plant and Equipment, Net	479	470	486	484	437	411	372	477	479	529	522	512	545	575
Intangibles, net (Note 5)	81	94	133	147	132	121	130	127	148	178	134	149	203	187
Goodwill	46	65	133	175	180	188	232	235	281	337	336	430	665	694
Deferred income taxes (Note 13)	-	-	-	-	-	-	-	-	-	-	17	18	23	45
Other assets	20	15	105	116	29	22	157	178	184	237	193	193	187	183
TOTAL ASSETS	1,784	1,977	2,090	2,152	1,939	1,784	1,943	2,407	2,350	2,371	2,314	2,592	3,181	3,377
Amounts due banks (Note 9)	11	20	18	15	61	3	2	2	-	35	3	52	82	2
Trade accounts payable	147	176	210	213	202	153	177	270	269	273	257	330	352	325
Employee-related Liabilities, Current	49	56	69	68	65	66	67	92	94	83	98	109	109	112
Dividends payable	13	14	-	19	22	23	23	26	30	30	30	33	37	40
Other current liabilities	58	61	38	31	27	25	98	120	128	142	161	231	261	274
Current portion of long-term debt (Note 9)	-	-	-	-	-	-	-	-	-	-	0	1	11	0
Total Current Liabilities	336	471	440	457	492	370	388	529	538	563	549	756	853	755
Long-term Debt and Capital Lease Obligations	-	-	-	-	-	-	-	-	-	-	715	717	1,110	1,103
Deferred income taxes (Note 13)	-	-	-	-	-	-	-	-	-	-	47	57	17	13
Other liabilities	23	25	30	49	59	50	98	201	176	212	213	199	166	198
Total Liabilities	634	784	732	621	653	852	1,231	1,474	1,462	1,552	1,524	1,728	2,147	2,068
Preferred Stock, Value, Issued	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Common Stock, Value, Issued	5	10	10	10	10	10	10	10	10	10	10	10	10	10
Additional paid-in capital	167	179	205	241	259	273	309	334	360	389	410	451	482	523
Retained earnings	1,321	1,484	1,683	1,908	2,086	2,126	2,236	2,388	2,564	2,736	2,821	2,970	3,307	3,688
Accumulated other comprehensive loss (Note 8)	-142	-248	-235	-152	-289	-296	-329	-247	-294	-276	-302	-257	-275	-230
Treasury shares, at cost - 40,957,895 shares in 2022 and 39,794,658 shares in 2021	217	249	320	480	784	1,181	1,515	1,554	1,754	2,042	2,150	2,310	2,489	-
Treasury shares, at cost - 41,605,619 shares in 2023 and 40,957,895 shares in 2022	-	-	-	-	-	-	-	-	-	-	-	-	-	2,683
Total Shareholders' Equity	1,149	1,193	1,358	1,531	1,286	932	712	932	888	819	790	864	1,034	1,309
Total Equity	1,149	1,193	1,358	1,531	1,286	932	712	932	888	819	790	864	1,034	1,309
Non-controlling interests	16	16	16	4	3	1	1	1	1	1	1	-0	-0	-
Total Equity	1,149	1,193	1,358	1,531	1,286	932	712	932	888	819	790	864	1,034	1,309
TOTAL LIABILITIES AND TOTAL EQUITY	1,784	1,977	2,090	2,152	1,939	1,784	1,943	2,407	2,350	2,371	2,314	2,592	3,181	3,377