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Pay vs Performance Disclosure - USD ($)
 12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Pay vs Performance Disclosure          
Pay vs Performance Disclosure, Table
YEAR
​ ​
SUMMARY
COMPENSATION
TABLE TOTAL
FOR PEO(1)
($)
​ ​
COMPENSATION
ACTUALLY PAID
TO PEO(3)(4)
($)
​ ​
AVERAGE
SUMMARY
COMPENSATION
TABLE TOTAL
FOR NON-PEO
NEOs(2)
($)
​ ​
AVERAGE
COMPENSATION
ACTUALLY PAID
TO NON-PEO
NEOs(3)(4)
($)
​ ​
VALUE OF INITIAL FIXED $100
INVESTMENT BASED ON:
​ ​
NET (LOSS)
INCOME
($ MILLIONS)
​ ​
COMPANY-
SELECTED
MEASURE
(ADJUSTED
EBITDA)
($ MILLIONS)(6)
​
​
TOTAL
SHAREHOLDER
RETURN
($)
​ ​
PEER GROUP
TOTAL
SHAREHOLDER
RETURN ($)(5)
​
2023 ​ ​ ​ ​ 7,214,563 ​ ​ ​ ​ ​ 4,021,729 ​ ​ ​ ​ ​ 2,042,671 ​ ​ ​ ​ ​ 1,337,378 ​ ​ ​ ​ ​ 66.56 ​ ​ ​ ​ ​ 144.25 ​ ​ ​ ​ ​ (61.8) ​ ​ ​ ​ ​ 122.1 ​ ​
2022 ​ ​ ​ ​ 6,872,373 ​ ​ ​ ​ ​ 3,044,683 ​ ​ ​ ​ ​ 1,699,496 ​ ​ ​ ​ ​ 1,173,629 ​ ​ ​ ​ ​ 80.30 ​ ​ ​ ​ ​ 138.60 ​ ​ ​ ​ ​ 50.5 ​ ​ ​ ​ ​ 135.8 ​ ​
2021 ​ ​ ​ ​ 5,478,186 ​ ​ ​ ​ ​ 411,369 ​ ​ ​ ​ ​ 1,251,965 ​ ​ ​ ​ ​ 744,420 ​ ​ ​ ​ ​ 102.88 ​ ​ ​ ​ ​ 148.42 ​ ​ ​ ​ ​ 6.3 ​ ​ ​ ​ ​ 96.1 ​ ​
2020 ​ ​ ​ ​ 7,550,729 ​ ​ ​ ​ ​ 11,184,189 ​ ​ ​ ​ ​ 1,630,304 ​ ​ ​ ​ ​ 1,908,512 ​ ​ ​ ​ ​ 136.14 ​ ​ ​ ​ ​ 115.68 ​ ​ ​ ​ ​ (29.0) ​ ​ ​ ​ ​ 87.0 ​ ​
​
(1)
Joseph F. Woody was the Company’s principal executive officer (“PEO”) for the fiscal years ended December 31, 2023, 2022, 2021 and 2020.
​
(2)
The Company’s named executive officers other than the PEO (the “Non-PEO NEOs”) for the fiscal years ended December 31, 2023, 2022, 2021 and 2020 are set forth below:
​
​ ​ ​
Fiscal Year 2023
​ ​
Fiscal Year 2022
​ ​
Fiscal Year 2021
​ ​
Fiscal Year 2020
​ ​ ​ ​
​ ​ ​
Michael C. Greiner
Kerr W. Holbrook
Mojirade James
Sudhakar Varshney
William D. Haydon
​ ​
Michael C. Greiner
Mojirade James
David E. Ball
William D. Haydon
Kerr W. Holbrook
​ ​
Michael C. Greiner
David E. Ball
William D. Haydon
Kerr W. Holbrook
​ ​
Michael C. Greiner
David E. Ball
Arjun R. Sarker
William D. Haydon
John W. Wesley
 ​ ​ ​ ​
​
(3)
The following table shows, for the amounts disclosed above under “Compensation Actually Paid to PEO” and “Average Compensation Actually Paid to Non-PEO NEOs,” each of the amounts deducted and added to calculate: (i) the “compensation actually paid” to our PEO and (ii) the average “compensation actually paid” to our Non-PEO NEOs for each of the fiscal years ended December 31, 2023, 2022, 2021 and 2020:
​
[MISSING IMAGE: lg_avanos-bw.jpg]
​ ​ ​
FISCAL YEAR 2023
​ ​
FISCAL YEAR 2022
​ ​
FISCAL YEAR 2021
​ ​
FISCAL YEAR 2020
​
​ ​ ​
PEO
​ ​
AVERAGE
NON-PEO
NEO
COMPENSATION
​ ​
PEO
​ ​
AVERAGE
NON-PEO
NEO
COMPENSATION
​ ​
PEO
​ ​
AVERAGE
NON-PEO
NEO
COMPENSATION
​ ​
PEO
​ ​
AVERAGE
NON-PEO
NEO
COMPENSATION
​
Total Compensation ​ ​ ​ $ 7,214,563 ​ ​ ​ ​ $ 2,042,671 ​ ​ ​ ​ $ 6,872,373 ​ ​ ​ ​ $ 1,699,496 ​ ​ ​ ​ $ 5,478,186 ​ ​ ​ ​ $ 1,251,965 ​ ​ ​ ​ $ 7,550,729 ​ ​ ​ ​ $ 1,630,304 ​ ​
Adjustments for Defined Benefit and Actuarial Plans
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
Pension Value
​ ​ ​ $ — ​ ​ ​ ​ $ — ​ ​ ​ ​ $ — ​ ​ ​ ​ $ — ​ ​ ​ ​ $ — ​ ​ ​ ​ $ — ​ ​ ​ ​ $ — ​ ​ ​ ​ $ — ​ ​
Current Year Pension
Value and Change
in Pension Value
Attributable to
Amendments Made
in the Current Year
​ ​ ​ $ — ​ ​ ​ ​ $ — ​ ​ ​ ​ $ — ​ ​ ​ ​ $ — ​ ​ ​ ​ $ — ​ ​ ​ ​ $ — ​ ​ ​ ​ $ — ​ ​ ​ ​ $ — ​ ​
Total Adjustments for Defined Benefit and Actuarial Plans
​ ​ ​ $ — ​ ​ ​ ​ $ — ​ ​ ​ ​ $ — ​ ​ ​ ​ $ — ​ ​ ​ ​ $ — ​ ​ ​ ​ $ — ​ ​ ​ ​ $ — ​ ​ ​ ​ $ — ​ ​
Adjustments for Stock
and Option Awards
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
Summary Compensation Table Amounts
​ ​ ​ $ (5,000,686) ​ ​ ​ ​ $ (1,059,154) ​ ​ ​ ​ $ (4,500,000) ​ ​ ​ ​ $ (913,826) ​ ​ ​ ​ $ (3,801,785) ​ ​ ​ ​ $ (633,623) ​ ​ ​ ​ $ (5,076,267) ​ ​ ​ ​ $ (684,909) ​ ​
Unvested Value of Equity Granted During the Fiscal Year
​ ​ ​ $ 3,646,960 ​ ​ ​ ​ $ 772,432 ​ ​ ​ ​ $ 3,650,069 ​ ​ ​ ​ $ 732,449 ​ ​ ​ ​ $ 2,794,114 ​ ​ ​ ​ $ 465,680 ​ ​ ​ ​ $ 9,180,281 ​ ​ ​ ​ $ 943,602 ​ ​
Change in Fair Value
of Equity
Outstanding at the
Beginning and End
of the Period
​ ​ ​ $ (1,314,073) ​ ​ ​ ​ $ (196,007) ​ ​ ​ ​ $ (1,876,784) ​ ​ ​ ​ $ (199,872) ​ ​ ​ ​ $ (3,052,995) ​ ​ ​ ​ $ (303,967) ​ ​ ​ ​ $ 645,042 ​ ​ ​ ​ $ 22,314 ​ ​
Change in Value for Awards Vested During the Fiscal Year
​ ​ ​ $ (525,035) ​ ​ ​ ​ $ (25,698) ​ ​ ​ ​ $ (1,100,975) ​ ​ ​ ​ $ (50,413) ​ ​ ​ ​ $ (1,006,151) ​ ​ ​ ​ $ (35,635) ​ ​ ​ ​ $ (1,115,596) ​ ​ ​ ​ $ 90,146 ​ ​
Awards Forfeited During the Fiscal Year
​ ​ ​ $ — ​ ​ ​ ​ $ (196,866) ​ ​ ​ ​ $ — ​ ​ ​ ​ $ (94,205) ​ ​ ​ ​ $ — ​ ​ ​ ​ $ — ​ ​ ​ ​ $ — ​ ​ ​ ​ $ (92,945) ​ ​
Total Adjustments for Stock and Option Awards
​ ​ ​ $ (3,192,834) ​ ​ ​ ​ $ (705,293) ​ ​ ​ ​ $ (3,827,690) ​ ​ ​ ​ $ (525,867) ​ ​ ​ ​ $ (5,066,817) ​ ​ ​ ​ $ (507,545) ​ ​ ​ ​ $ 3,633,460 ​ ​ ​ ​ $ 278,208 ​ ​
Actual Compensation Paid
​ ​ ​ $ 4,021,729 ​ ​ ​ ​ $ 1,337,378 ​ ​ ​ ​ $ 3,044,683 ​ ​ ​ ​ $ 1,173,629 ​ ​ ​ ​ $ 411,369 ​ ​ ​ ​ $ 744,420 ​ ​ ​ ​ $ 11,184,189 ​ ​ ​ ​ $ 1,908,512 ​ ​
​
(4)
The fair value of each equity award was re-measured on each vesting date and/or year-end, as applicable, in accordance with Accounting Standards Codification (ASC) Topic 718. The assumptions used in the valuation of each type of award are summarized below:
​
•
Time-based restricted stock units: The fair value of TRSUs was based on the Company’s closing stock price on each measurement date.
​
•
Non-qualified stock options: The fair value of non-qualified stock options was determined using a Black-Scholes option pricing model with the following assumptions:
​
Year
​ ​
2019
​ ​
2020
​ ​
2021
​ ​
2022
​ ​
2023
​
Volatility ​ ​
30%
​ ​
41%
​ ​
43%
​ ​
44%
​ ​
44%
​
Risk Free Rate
​ ​
1.6% to 2.7%
​ ​
0.3% to 2.7%
​ ​
0.3% to 2.8%
​ ​
0.3% to 2.3%
​ ​
0.3%
​
Expected Term
​ ​
4 years
​ ​
4 years
​ ​
5 years
​ ​
5 years
​ ​
5 years
​
Dividend Yield
​ ​
—%
​ ​
—%
​ ​
—%
​ ​
—%
​ ​
—%
​
Fair Values ​ ​
$4.09 to $7.51
​ ​
$6.47 to $22.85
​ ​
$11.22 to $19.77
​ ​
$7.67 to $10.26
​ ​
$7.71
 ​
​
•
Performance-based restricted stock units: PRSU awards for which vesting was conditioned on meeting a defined measure of total shareholder return (“TSR”) were issued in 2018 and 2019. Such PRSUs would have vested at the end of 2020 and 2021, respectively, had the relevant TSR measures been met. None of such PRSUs vested. The fair value for PRSUs was determined using a Monte Carlo simulation using the following assumptions:
​
Year
​ ​
2019
​ ​
2020
​ ​
2021
​
Peer group average volatility
​ ​
31%
​ ​
51%
​ ​
n/a
​
Risk Free Rate ​ ​
1.6%
​ ​
0.1%
​ ​
n/a
​
Fair Values ​ ​
$2.27 to $15.42
​ ​
$0 to $33.65
​ ​
$0
 ​
[MISSING IMAGE: lg_avanos-bw.jpg]
(5)
For purposes of determining the TSR of the Company’s peer group, the Company uses the S&P 500 Health Care Equipment and Services Index, which is one of the published industry indexes used by the Company to report on the performance of its common stock in its Annual Report on Form 10-K for the year ended December 31, 2023.
​
(6)
The “Company-Selected Measure” is adjusted EBITDA, which in the Company’s assessment represents the most important financial performance measure (that is not otherwise required to be disclosed in the above table) used by the Company to link compensation actually paid to the Company’s named executive officers, for the year ended December 31, 2023, to Company performance. Adjusted EBITDA is a non-GAAP financial measure. A description of this measure and a reconciliation of adjusted EBITDA to the most directly comparable GAAP financial measures is provided in Appendix A to this proxy statement.
​
        
Company Selected Measure Name ADJUSTED EBITDA        
Named Executive Officers, Footnote
(1)
Joseph F. Woody was the Company’s principal executive officer (“PEO”) for the fiscal years ended December 31, 2023, 2022, 2021 and 2020.
​
(2)
The Company’s named executive officers other than the PEO (the “Non-PEO NEOs”) for the fiscal years ended December 31, 2023, 2022, 2021 and 2020 are set forth below:
​
​ ​ ​
Fiscal Year 2023
​ ​
Fiscal Year 2022
​ ​
Fiscal Year 2021
​ ​
Fiscal Year 2020
​ ​ ​ ​
​ ​ ​
Michael C. Greiner
Kerr W. Holbrook
Mojirade James
Sudhakar Varshney
William D. Haydon
​ ​
Michael C. Greiner
Mojirade James
David E. Ball
William D. Haydon
Kerr W. Holbrook
​ ​
Michael C. Greiner
David E. Ball
William D. Haydon
Kerr W. Holbrook
​ ​
Michael C. Greiner
David E. Ball
Arjun R. Sarker
William D. Haydon
John W. Wesley
 ​ ​ ​ ​
       
Peer Group Issuers, Footnote
(5)
For purposes of determining the TSR of the Company’s peer group, the Company uses the S&P 500 Health Care Equipment and Services Index, which is one of the published industry indexes used by the Company to report on the performance of its common stock in its Annual Report on Form 10-K for the year ended December 31, 2023.
       
PEO Total Compensation Amount $ 7,214,563 $ 6,872,373 $ 5,478,186 $ 7,550,729  
PEO Actually Paid Compensation Amount $ 4,021,729 3,044,683 411,369 11,184,189  
Adjustment To PEO Compensation, Footnote
(3)
The following table shows, for the amounts disclosed above under “Compensation Actually Paid to PEO” and “Average Compensation Actually Paid to Non-PEO NEOs,” each of the amounts deducted and added to calculate: (i) the “compensation actually paid” to our PEO and (ii) the average “compensation actually paid” to our Non-PEO NEOs for each of the fiscal years ended December 31, 2023, 2022, 2021 and 2020:
​ ​ ​
FISCAL YEAR 2023
​ ​
FISCAL YEAR 2022
​ ​
FISCAL YEAR 2021
​ ​
FISCAL YEAR 2020
​
​ ​ ​
PEO
​ ​
AVERAGE
NON-PEO
NEO
COMPENSATION
​ ​
PEO
​ ​
AVERAGE
NON-PEO
NEO
COMPENSATION
​ ​
PEO
​ ​
AVERAGE
NON-PEO
NEO
COMPENSATION
​ ​
PEO
​ ​
AVERAGE
NON-PEO
NEO
COMPENSATION
​
Total Compensation ​ ​ ​ $ 7,214,563 ​ ​ ​ ​ $ 2,042,671 ​ ​ ​ ​ $ 6,872,373 ​ ​ ​ ​ $ 1,699,496 ​ ​ ​ ​ $ 5,478,186 ​ ​ ​ ​ $ 1,251,965 ​ ​ ​ ​ $ 7,550,729 ​ ​ ​ ​ $ 1,630,304 ​ ​
Adjustments for Defined Benefit and Actuarial Plans
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
Pension Value
​ ​ ​ $ — ​ ​ ​ ​ $ — ​ ​ ​ ​ $ — ​ ​ ​ ​ $ — ​ ​ ​ ​ $ — ​ ​ ​ ​ $ — ​ ​ ​ ​ $ — ​ ​ ​ ​ $ — ​ ​
Current Year Pension
Value and Change
in Pension Value
Attributable to
Amendments Made
in the Current Year
​ ​ ​ $ — ​ ​ ​ ​ $ — ​ ​ ​ ​ $ — ​ ​ ​ ​ $ — ​ ​ ​ ​ $ — ​ ​ ​ ​ $ — ​ ​ ​ ​ $ — ​ ​ ​ ​ $ — ​ ​
Total Adjustments for Defined Benefit and Actuarial Plans
​ ​ ​ $ — ​ ​ ​ ​ $ — ​ ​ ​ ​ $ — ​ ​ ​ ​ $ — ​ ​ ​ ​ $ — ​ ​ ​ ​ $ — ​ ​ ​ ​ $ — ​ ​ ​ ​ $ — ​ ​
Adjustments for Stock
and Option Awards
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
Summary Compensation Table Amounts
​ ​ ​ $ (5,000,686) ​ ​ ​ ​ $ (1,059,154) ​ ​ ​ ​ $ (4,500,000) ​ ​ ​ ​ $ (913,826) ​ ​ ​ ​ $ (3,801,785) ​ ​ ​ ​ $ (633,623) ​ ​ ​ ​ $ (5,076,267) ​ ​ ​ ​ $ (684,909) ​ ​
Unvested Value of Equity Granted During the Fiscal Year
​ ​ ​ $ 3,646,960 ​ ​ ​ ​ $ 772,432 ​ ​ ​ ​ $ 3,650,069 ​ ​ ​ ​ $ 732,449 ​ ​ ​ ​ $ 2,794,114 ​ ​ ​ ​ $ 465,680 ​ ​ ​ ​ $ 9,180,281 ​ ​ ​ ​ $ 943,602 ​ ​
Change in Fair Value
of Equity
Outstanding at the
Beginning and End
of the Period
​ ​ ​ $ (1,314,073) ​ ​ ​ ​ $ (196,007) ​ ​ ​ ​ $ (1,876,784) ​ ​ ​ ​ $ (199,872) ​ ​ ​ ​ $ (3,052,995) ​ ​ ​ ​ $ (303,967) ​ ​ ​ ​ $ 645,042 ​ ​ ​ ​ $ 22,314 ​ ​
Change in Value for Awards Vested During the Fiscal Year
​ ​ ​ $ (525,035) ​ ​ ​ ​ $ (25,698) ​ ​ ​ ​ $ (1,100,975) ​ ​ ​ ​ $ (50,413) ​ ​ ​ ​ $ (1,006,151) ​ ​ ​ ​ $ (35,635) ​ ​ ​ ​ $ (1,115,596) ​ ​ ​ ​ $ 90,146 ​ ​
Awards Forfeited During the Fiscal Year
​ ​ ​ $ — ​ ​ ​ ​ $ (196,866) ​ ​ ​ ​ $ — ​ ​ ​ ​ $ (94,205) ​ ​ ​ ​ $ — ​ ​ ​ ​ $ — ​ ​ ​ ​ $ — ​ ​ ​ ​ $ (92,945) ​ ​
Total Adjustments for Stock and Option Awards
​ ​ ​ $ (3,192,834) ​ ​ ​ ​ $ (705,293) ​ ​ ​ ​ $ (3,827,690) ​ ​ ​ ​ $ (525,867) ​ ​ ​ ​ $ (5,066,817) ​ ​ ​ ​ $ (507,545) ​ ​ ​ ​ $ 3,633,460 ​ ​ ​ ​ $ 278,208 ​ ​
Actual Compensation Paid
​ ​ ​ $ 4,021,729 ​ ​ ​ ​ $ 1,337,378 ​ ​ ​ ​ $ 3,044,683 ​ ​ ​ ​ $ 1,173,629 ​ ​ ​ ​ $ 411,369 ​ ​ ​ ​ $ 744,420 ​ ​ ​ ​ $ 11,184,189 ​ ​ ​ ​ $ 1,908,512 ​ ​
       
Non-PEO NEO Average Total Compensation Amount $ 2,042,671 1,699,496 1,251,965 1,630,304  
Non-PEO NEO Average Compensation Actually Paid Amount $ 1,337,378 1,173,629 744,420 1,908,512  
Adjustment to Non-PEO NEO Compensation Footnote
(3)
The following table shows, for the amounts disclosed above under “Compensation Actually Paid to PEO” and “Average Compensation Actually Paid to Non-PEO NEOs,” each of the amounts deducted and added to calculate: (i) the “compensation actually paid” to our PEO and (ii) the average “compensation actually paid” to our Non-PEO NEOs for each of the fiscal years ended December 31, 2023, 2022, 2021 and 2020:
​ ​ ​
FISCAL YEAR 2023
​ ​
FISCAL YEAR 2022
​ ​
FISCAL YEAR 2021
​ ​
FISCAL YEAR 2020
​
​ ​ ​
PEO
​ ​
AVERAGE
NON-PEO
NEO
COMPENSATION
​ ​
PEO
​ ​
AVERAGE
NON-PEO
NEO
COMPENSATION
​ ​
PEO
​ ​
AVERAGE
NON-PEO
NEO
COMPENSATION
​ ​
PEO
​ ​
AVERAGE
NON-PEO
NEO
COMPENSATION
​
Total Compensation ​ ​ ​ $ 7,214,563 ​ ​ ​ ​ $ 2,042,671 ​ ​ ​ ​ $ 6,872,373 ​ ​ ​ ​ $ 1,699,496 ​ ​ ​ ​ $ 5,478,186 ​ ​ ​ ​ $ 1,251,965 ​ ​ ​ ​ $ 7,550,729 ​ ​ ​ ​ $ 1,630,304 ​ ​
Adjustments for Defined Benefit and Actuarial Plans
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
Pension Value
​ ​ ​ $ — ​ ​ ​ ​ $ — ​ ​ ​ ​ $ — ​ ​ ​ ​ $ — ​ ​ ​ ​ $ — ​ ​ ​ ​ $ — ​ ​ ​ ​ $ — ​ ​ ​ ​ $ — ​ ​
Current Year Pension
Value and Change
in Pension Value
Attributable to
Amendments Made
in the Current Year
​ ​ ​ $ — ​ ​ ​ ​ $ — ​ ​ ​ ​ $ — ​ ​ ​ ​ $ — ​ ​ ​ ​ $ — ​ ​ ​ ​ $ — ​ ​ ​ ​ $ — ​ ​ ​ ​ $ — ​ ​
Total Adjustments for Defined Benefit and Actuarial Plans
​ ​ ​ $ — ​ ​ ​ ​ $ — ​ ​ ​ ​ $ — ​ ​ ​ ​ $ — ​ ​ ​ ​ $ — ​ ​ ​ ​ $ — ​ ​ ​ ​ $ — ​ ​ ​ ​ $ — ​ ​
Adjustments for Stock
and Option Awards
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
Summary Compensation Table Amounts
​ ​ ​ $ (5,000,686) ​ ​ ​ ​ $ (1,059,154) ​ ​ ​ ​ $ (4,500,000) ​ ​ ​ ​ $ (913,826) ​ ​ ​ ​ $ (3,801,785) ​ ​ ​ ​ $ (633,623) ​ ​ ​ ​ $ (5,076,267) ​ ​ ​ ​ $ (684,909) ​ ​
Unvested Value of Equity Granted During the Fiscal Year
​ ​ ​ $ 3,646,960 ​ ​ ​ ​ $ 772,432 ​ ​ ​ ​ $ 3,650,069 ​ ​ ​ ​ $ 732,449 ​ ​ ​ ​ $ 2,794,114 ​ ​ ​ ​ $ 465,680 ​ ​ ​ ​ $ 9,180,281 ​ ​ ​ ​ $ 943,602 ​ ​
Change in Fair Value
of Equity
Outstanding at the
Beginning and End
of the Period
​ ​ ​ $ (1,314,073) ​ ​ ​ ​ $ (196,007) ​ ​ ​ ​ $ (1,876,784) ​ ​ ​ ​ $ (199,872) ​ ​ ​ ​ $ (3,052,995) ​ ​ ​ ​ $ (303,967) ​ ​ ​ ​ $ 645,042 ​ ​ ​ ​ $ 22,314 ​ ​
Change in Value for Awards Vested During the Fiscal Year
​ ​ ​ $ (525,035) ​ ​ ​ ​ $ (25,698) ​ ​ ​ ​ $ (1,100,975) ​ ​ ​ ​ $ (50,413) ​ ​ ​ ​ $ (1,006,151) ​ ​ ​ ​ $ (35,635) ​ ​ ​ ​ $ (1,115,596) ​ ​ ​ ​ $ 90,146 ​ ​
Awards Forfeited During the Fiscal Year
​ ​ ​ $ — ​ ​ ​ ​ $ (196,866) ​ ​ ​ ​ $ — ​ ​ ​ ​ $ (94,205) ​ ​ ​ ​ $ — ​ ​ ​ ​ $ — ​ ​ ​ ​ $ — ​ ​ ​ ​ $ (92,945) ​ ​
Total Adjustments for Stock and Option Awards
​ ​ ​ $ (3,192,834) ​ ​ ​ ​ $ (705,293) ​ ​ ​ ​ $ (3,827,690) ​ ​ ​ ​ $ (525,867) ​ ​ ​ ​ $ (5,066,817) ​ ​ ​ ​ $ (507,545) ​ ​ ​ ​ $ 3,633,460 ​ ​ ​ ​ $ 278,208 ​ ​
Actual Compensation Paid
​ ​ ​ $ 4,021,729 ​ ​ ​ ​ $ 1,337,378 ​ ​ ​ ​ $ 3,044,683 ​ ​ ​ ​ $ 1,173,629 ​ ​ ​ ​ $ 411,369 ​ ​ ​ ​ $ 744,420 ​ ​ ​ ​ $ 11,184,189 ​ ​ ​ ​ $ 1,908,512 ​ ​
       
Compensation Actually Paid vs. Total Shareholder Return
[MISSING IMAGE: lc_paidvscumu-4c.jpg]
       
Compensation Actually Paid vs. Net Income
[MISSING IMAGE: lc_paidvsnetinc-4c.jpg]
       
Compensation Actually Paid vs. Company Selected Measure
[MISSING IMAGE: lc_paidvsadjebi-4c.jpg]
       
Tabular List, Table
List of Most Important Financial Measures
The Company-selected measure is adjusted EBITDA. The three other financial performance measures which in the Company’s assessment represent the most important financial performance measures used by the Company to link compensation actually paid to the Company’s named executive officers, for the year ended December 31, 2023, to Company performance are:
•
Net sales;
​
•
Adjusted diluted earnings per share (“Adjusted EPS”); and
​
•
Return on invested capital (“ROIC”).
​
Adjusted EBITDA, Adjusted EPS and ROIC are non-GAAP financial measures. A reconciliation of Adjusted EBITDA and Adjusted EPS to the most directly comparable GAAP financial measures is provided in Appendix A to this proxy statement. A reconciliation of ROIC to the most directly comparable GAAP financial measures is provided in Appendix B to this proxy statement.
Set forth below is a table which shows the following for the year ended December 31, 2023: (i) net sales; (ii) Adjusted EPS; (iii) ROIC; and (iv) adjusted EBITDA.
​
YEAR
​ ​
NET SALES*
($ MILLIONS)
​ ​
ADJUSTED
EPS
($)
​ ​
RETURN ON
INVESTED
CAPITAL (%)
​ ​
COMPANY-SELECTED
MEASURE
(ADJUSTED EBITDA)
($ MILLIONS)
​
2023 ​ ​ ​ ​ 774.2 ​ ​ ​ ​ ​ 1.38 ​ ​ ​ ​ ​ 4.9 ​ ​ ​ ​ ​ 122.1 ​ ​
       
Total Shareholder Return Amount $ 66.56 80.3 102.88 136.14  
Peer Group Total Shareholder Return Amount 144.25 138.6 148.42 115.68  
Net Income (Loss) $ (61,800,000) $ 50,500,000 $ 6,300,000 $ (29,000,000)  
Company Selected Measure Amount 122,100,000 135,800,000 96,100,000 87,000,000  
PEO Name Joseph F. Woody Joseph F. Woody Joseph F. Woody Joseph F. Woody  
Share Based Payment Arrangement Option [Member]          
Pay vs Performance Disclosure          
Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions, Expected Volatility Rate 44.00% 44.00% 43.00% 41.00% 30.00%
Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions, Risk Free Interest Rate, Minimum 0.30% 0.30% 0.30% 0.30% 1.60%
Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions, Risk Free Interest Rate, Maximum   2.30% 2.80% 2.70% 2.70%
Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions, Expected Term 5 years 5 years 5 years 4 years 4 years
Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions, Fair Value, Minimum   $ 7.67 $ 11.22 $ 6.47 $ 4.09
Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions, Fair Value, Maximum   $ 10.26 19.77 $ 22.85 $ 7.51
Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions, Fair Value $ 7.71        
Performance Based Restricted Stock Units [Member]          
Pay vs Performance Disclosure          
Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions, Expected Volatility Rate       51.00% 31.00%
Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions, Fair Value, Minimum       $ 0 $ 2.27
Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions, Fair Value, Maximum       $ 33.65 $ 15.42
Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions, Fair Value     $ 0    
Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions, Risk Free Interest Rate       0.10% 1.60%
Measure:: 1          
Pay vs Performance Disclosure          
Non-GAAP Measure Description
(6)
The “Company-Selected Measure” is adjusted EBITDA, which in the Company’s assessment represents the most important financial performance measure (that is not otherwise required to be disclosed in the above table) used by the Company to link compensation actually paid to the Company’s named executive officers, for the year ended December 31, 2023, to Company performance. Adjusted EBITDA is a non-GAAP financial measure. A description of this measure and a reconciliation of adjusted EBITDA to the most directly comparable GAAP financial measures is provided in Appendix A to this proxy statement.
       
Measure:: 2          
Pay vs Performance Disclosure          
Name Net sales        
Measure:: 3          
Pay vs Performance Disclosure          
Name Adjusted diluted earnings per share (“Adjusted EPS”)        
Measure:: 4          
Pay vs Performance Disclosure          
Name Return on invested capital (“ROIC”)        
PEO          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount  
PEO | Total Net Adjustments For Equity Awards [Member]          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount (3,192,834) (3,827,690) (5,066,817) 3,633,460  
PEO | Equity Awards Value In Summary Compensation Table (Grant Date Value) [Member]          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount (5,000,686) (4,500,000) (3,801,785) (5,076,267)  
PEO | Year-end Fair Value Of Awards Granted In The Current Fiscal Year [Member]          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 3,646,960 3,650,069 2,794,114 9,180,281  
PEO | Change In Fair Value Of Equity Outstanding At The Beginning And End Of The Period [Member]          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount (1,314,073) (1,876,784) (3,052,995) 645,042  
PEO | Change In Fair Value As Of Vesting Date Of Awards Vested During Current Year [Member]          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount (525,035) (1,100,975) (1,006,151) (1,115,596)  
PEO | Awards Forfeited During The Fiscal Year [Member]          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount  
Non-PEO NEO          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount  
Non-PEO NEO | Total Net Adjustments For Equity Awards [Member]          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount (705,293) (525,867) (507,545) 278,208  
Non-PEO NEO | Equity Awards Value In Summary Compensation Table (Grant Date Value) [Member]          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount (1,059,154) (913,826) (633,623) (684,909)  
Non-PEO NEO | Year-end Fair Value Of Awards Granted In The Current Fiscal Year [Member]          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 772,432 732,449 465,680 943,602  
Non-PEO NEO | Change In Fair Value Of Equity Outstanding At The Beginning And End Of The Period [Member]          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount (196,007) (199,872) (303,967) 22,314  
Non-PEO NEO | Change In Fair Value As Of Vesting Date Of Awards Vested During Current Year [Member]          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount (25,698) (50,413) (35,635) 90,146  
Non-PEO NEO | Awards Forfeited During The Fiscal Year [Member]          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount $ (196,866) $ (94,205) $ (92,945)