XML 27 R92.htm IDEA: XBRL DOCUMENT
v3.19.3.a.u2

RETIREMENT ANNUITY AND GUARANTEED CONTINUOUS EMPLOYMENT PLANS (Pension Plan Assets by Level with the Fair Value Hierarchy) (Details) - USD ($) $ in Thousands | Dec. 31, 2019 | Dec. 31, 2018
--- | --- | ---
Pension plans' assets by level within the fair value hierarchy |  |  |
Total assets at fair value |  | $ 695,224 | $ 612,265
Quoted Prices in Active Markets for Identical Assets (Level 1) |  |  |
Pension plans' assets by level within the fair value hierarchy |  |  |
Total assets at fair value |  | 57,311 | 33,623
Significant Other Observable Inputs (Level 2) |  |  |
Pension plans' assets by level within the fair value hierarchy |  |  |
Total assets at fair value |  | 482,203 | 392,090
Significant Unobservable Inputs (Level 3) |  |  |
Pension plans' assets by level within the fair value hierarchy |  |  |
Total assets at fair value |  | 0 | 0
Corporate stock |  |  |
Pension plans' assets by level within the fair value hierarchy |  |  |
Total assets at fair value | [1] |  | 3,851
Corporate stock | Quoted Prices in Active Markets for Identical Assets (Level 1) |  |  |
Pension plans' assets by level within the fair value hierarchy |  |  |
Total assets at fair value |  |  | 3,851
Corporate stock | Significant Other Observable Inputs (Level 2) |  |  |
Pension plans' assets by level within the fair value hierarchy |  |  |
Total assets at fair value |  |  | 0
Corporate stock | Significant Unobservable Inputs (Level 3) |  |  |
Pension plans' assets by level within the fair value hierarchy |  |  |
Total assets at fair value |  |  | 0
Cash and cash equivalents |  |  |
Pension plans' assets by level within the fair value hierarchy |  |  |
Total assets at fair value |  | 11,263 | 13,029
Cash and cash equivalents | Quoted Prices in Active Markets for Identical Assets (Level 1) |  |  |
Pension plans' assets by level within the fair value hierarchy |  |  |
Total assets at fair value |  | 11,263 | 13,029
Cash and cash equivalents | Significant Other Observable Inputs (Level 2) |  |  |
Pension plans' assets by level within the fair value hierarchy |  |  |
Total assets at fair value |  | 0 | 0
Cash and cash equivalents | Significant Unobservable Inputs (Level 3) |  |  |
Pension plans' assets by level within the fair value hierarchy |  |  |
Total assets at fair value |  | 0 | 0
Corporate and other obligations |  |  |
Pension plans' assets by level within the fair value hierarchy |  |  |
Total assets at fair value | [2] | 482,203 | 392,090
Corporate and other obligations | Quoted Prices in Active Markets for Identical Assets (Level 1) |  |  |
Pension plans' assets by level within the fair value hierarchy |  |  |
Total assets at fair value |  | 0 | 0
Corporate and other obligations | Significant Other Observable Inputs (Level 2) |  |  |
Pension plans' assets by level within the fair value hierarchy |  |  |
Total assets at fair value |  | 482,203 | 392,090
Corporate and other obligations | Significant Unobservable Inputs (Level 3) |  |  |
Pension plans' assets by level within the fair value hierarchy |  |  |
Total assets at fair value |  | 0 | 0
US Treasury Bond Securities [Member] |  |  |
Pension plans' assets by level within the fair value hierarchy |  |  |
Total assets at fair value | [2] | 46,048 | 16,743
US Treasury Bond Securities [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) |  |  |
Pension plans' assets by level within the fair value hierarchy |  |  |
Total assets at fair value |  | 46,048 | 16,743
US Treasury Bond Securities [Member] | Significant Other Observable Inputs (Level 2) |  |  |
Pension plans' assets by level within the fair value hierarchy |  |  |
Total assets at fair value |  | 0 | 0
US Treasury Bond Securities [Member] | Significant Unobservable Inputs (Level 3) |  |  |
Pension plans' assets by level within the fair value hierarchy |  |  |
Total assets at fair value |  | 0 | 0
Common trusts and 103-12 investments |  |  |
Pension plans' assets by level within the fair value hierarchy |  |  |
Total assets at fair value | [3],[4] | 124,389 | 151,153
Private equity funds |  |  |
Pension plans' assets by level within the fair value hierarchy |  |  |
Total assets at fair value | [3],[5] | $ 31,321 | $ 35,399
[1] | Equity securities are primarily comprised of corporate stock and mutual funds directly held by the plans. Equity securities are valued using the closing price reported on the active market on which the individual securities are traded.
[2] | Fixed income securities are primarily comprised of governmental and corporate bonds directly held by the plans. Governmental and corporate bonds are valued using both market observable inputs for similar assets that are traded on an active market and the closing price on the active market on which the individual securities are traded.
[3] | Certain assets that are measured at fair value using the net asset value ("NAV") practical expedient have not been classified in the fair value hierarchy.
[4] | Common trusts and 103-12 investments (collectively "Trusts") are comprised of a number of investment funds that invest in a diverse portfolio of assets including equity securities, corporate and governmental bonds, equity and credit indexes and money markets. Trusts are valued at the NAV as determined by their custodian. NAV represents the accumulation of the unadjusted quoted close prices on the reporting date for the underlying investments divided by the total shares outstanding at the reporting dates.
[5] | Private equity funds consist of four funds seeking capital appreciation by investing in private equity investment partnerships and venture capital companies. Private equity fund valuations are based on the NAV of the underlying assets. Funds are comprised of unrestricted and restricted publicly traded securities and privately held securities. Unrestricted securities are valued at the closing market price on the reporting date. Restricted securities may be valued at a discount from such closing public market price, depending on facts and circumstances. Privately held securities are valued at fair value as determined by the fund directors and general partners.

X
- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. + References No definition available. + Details
Name: | us-gaap_DefinedBenefitPlanDisclosureLineItems
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Amount of asset segregated and restricted to provide benefit under defined benefit plan. Asset includes, but is not limited to, stock, bond, other investment, earning from investment, and contribution by employer and employee. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (d)(iv)(01) -URI http://asc.fasb.org/extlink&oid=108410482&loc=d3e1928-114920 Reference 2: http://www.xbrl.org/2003/role/exampleRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (d)(iv)(01) -URI http://asc.fasb.org/extlink&oid=108410482&loc=d3e1928-114920 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (d)(ii) -URI http://asc.fasb.org/extlink&oid=108410482&loc=d3e1928-114920 Reference 4: http://www.xbrl.org/2003/role/exampleRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 55 -Paragraph 17 -URI http://asc.fasb.org/extlink&oid=112275985&loc=d3e4179-114921 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=108410482&loc=d3e1928-114920 Reference 6: http://www.xbrl.org/2003/role/exampleRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (d)(ii) -URI http://asc.fasb.org/extlink&oid=108410482&loc=d3e1928-114920 + Details
Name: | us-gaap_DefinedBenefitPlanFairValueOfPlanAssets
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | instant

X
- Details
Name: | us-gaap_FairValueByFairValueHierarchyLevelAxis=us-gaap_FairValueInputsLevel1Member
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_FairValueByFairValueHierarchyLevelAxis=us-gaap_FairValueInputsLevel2Member
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_FairValueByFairValueHierarchyLevelAxis=us-gaap_FairValueInputsLevel3Member
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_DefinedBenefitPlanByPlanAssetCategoriesAxis=us-gaap_EquitySecuritiesMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_DefinedBenefitPlanByPlanAssetCategoriesAxis=us-gaap_CashAndCashEquivalentsMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_DefinedBenefitPlanByPlanAssetCategoriesAxis=us-gaap_CorporateDebtSecuritiesMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_DefinedBenefitPlanByPlanAssetCategoriesAxis=us-gaap_USTreasuryBondSecuritiesMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_DefinedBenefitPlanByPlanAssetCategoriesAxis=leco_CommonTrustsAnd103By12InvestmentsMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_DefinedBenefitPlanByPlanAssetCategoriesAxis=us-gaap_PrivateEquityFundsMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |