XML 68 R29.htm IDEA: XBRL DOCUMENT
v3.20.1

ACQUISITIONS (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2019
Business Combinations [Abstract] |
Summary of Purchase Price | The purchase price, as adjusted, has been determined to be as follows (in thousands):
Cash | $ | 217,511 |
Share consideration | 76,905 |
Total purchase price | $ | 294,416 |
Summary of Purchase Price Allocated Based on Estimated Fair Value of Assets and Liabilities | The purchase price was allocated based on the Company’s final estimate of the fair value of the assets acquired and liabilities assumed, as follows (in thousands):
Accounts receivable | $ | 26,224 |
Inventory | 29,044 |
Other assets | 5,620 |
Other liabilities | (23,018) |
Deferred income tax | (13,881) |
Goodwill and other intangibles | 270,427 |
Total allocated value | $ | 294,416 |
The purchase price was allocated based on the Company’s estimate of the fair values of the assets acquired and liabilities assumed, as follows (in thousands):
Accounts receivable |  | $ | 3,115 |
Inventory |  | 5,424 |
Other assets |  | 458 |
Other liabilities |  | (2,056) |
Goodwill and other intangibles |  | 2,131 |
Total allocated value |  |  | $ | 9,072 |
Summary of Pro Forma Consolidated Net Sales and Income (Loss) Before Income Taxes and Equity in Earnings | The following unaudited pro forma financial information presents the results of the Company as if the acquisition of Filament had occurred on January 1, 2017. The unaudited pro forma results do not include any revenue or cost reductions that may be achieved through the business combination or the impact of non-recurring items directly related to the business combination.
|  | Year ended December 31, |  |  |  |  |
|  |  | 2018 |  | 2017 |  |
|  | (In thousands, except per share data) |  |  |  |  |
Net sales |  |  | $ | 730,353 |  |  | $ | 747,549 |  |  |
Income before income taxes and equity in earnings |  |  | 2,439 |  |  | 14,151 |  |  |
Net (loss) income |  |  | (267) |  |  | 5,794 |  |  |
Basic and diluted (loss) income per common share |  |  | $ | (0.01) |  |  | $ | 0.28 |  |  |

X
- Definition Schedule Of Business Acquisition Purchase Price Determination Table [Text Block] + References No definition available. + Details
Name: | lcut_ScheduleOfBusinessAcquisitionPurchasePriceDeterminationTableTextBlock
Namespace Prefix: | lcut_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of pro forma results of operations for a material business acquisition or series of individually immaterial business acquisitions that are material in the aggregate. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (h)(2) -URI http://asc.fasb.org/extlink&oid=79982066&loc=d3e1392-128463 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (h)(3) -URI http://asc.fasb.org/extlink&oid=79982066&loc=d3e1392-128463 + Details
Name: | us-gaap_BusinessAcquisitionProFormaInformationTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_BusinessCombinationsAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of a material business combination completed during the period, including background, timing, and recognized assets and liabilities. This table does not include leveraged buyouts. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=79982066&loc=d3e1486-128463 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=79982066&loc=d3e1392-128463 + Details
Name: | us-gaap_ScheduleOfBusinessAcquisitionsByAcquisitionTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration