XML 60 R51.htm IDEA: XBRL DOCUMENT
v3.22.1

DEBT - Additional Information (Details) - USD ($) | 3 Months Ended |  |
--- | --- | --- | ---
Mar. 31, 2022 | Mar. 30, 2022 | Dec. 31, 2021
ABL Credit Agreement |  |  |
Debt Instrument [Line Items] |  |  |
Maximum aggregate principal allowed | $ 150,000,000 |  | $ 150,000,000
Term Loan facility payment | 0 |  |
Minimum availability under revolving credit to maintain minimum fixed charge ratio for four consecutive months | $ 15,000,000 |  |
Commitment fee percentage | 10.00% |  |
Maximum fixed charge coverage ratio | 1.10 |  |
Debt Agreements |  |  |
Debt Instrument [Line Items] |  |  |
Debt instrument, face amount | $ 275,000,000 |  |
Percentage of capital stock of foreign subsidiaries pledged as collateral | 65.00% |  |
Minimum term under revolving credit to maintain minimum fixed charge ratio | 45 days |  |
Term Loan |  |  |
Debt Instrument [Line Items] |  |  |
Quarterly payments, percentage of principal amount | 0.25% |  |
Maximum debt instrument leverage ratio | 3.75 |  |
Estimated Excess Cash Flow principal payment | $ 2,500,000 |  | $ 7,200,000
Excess cash flow payment |  | $ 6,200,000 |
Interest rates on outstanding borrowings | 4.50% |  |
Term Loan | Federal Funds And Overnight Bank Funding Based Rate |  |  |
Debt Instrument [Line Items] |  |  |
Basis spread on variable rate | 0.50% |  |
Term Loan | Alternate Base Rate |  |  |
Debt Instrument [Line Items] |  |  |
Basis spread on variable rate | 2.50% |  |
Term Loan | London Interbank Offered Rate (LIBOR) |  |  |
Debt Instrument [Line Items] |  |  |
Basis spread on variable rate | 3.50% |  |
Minimum | Term Loan | Alternate Base Rate |  |  |
Debt Instrument [Line Items] |  |  |
Debt instrument, stated rate | 2.00% |  |
Senior Secured Asset Based Revolving Credit Facilities | ABL Credit Agreement |  |  |
Debt Instrument [Line Items] |  |  |
Maximum aggregate principal allowed | $ 150,000,000 |  |
Increase in maximum borrowing capacity | 200,000,000 |  |
Senior Secured Asset Based Revolving Credit Facilities | Incremental Facilities |  |  |
Debt Instrument [Line Items] |  |  |
Debt instrument, stated amount | $ 50,000,000 |  |
Revolving Credit Facility | ABL Credit Agreement | Federal Funds And Overnight Bank Funding Based Rate |  |  |
Debt Instrument [Line Items] |  |  |
Basis spread on variable rate | 0.50% |  |
Revolving Credit Facility | Term Loan | One Month London Inter bank Offered Rate LIBOR |  |  |
Debt Instrument [Line Items] |  |  |
Basis spread on variable rate | 1.00% |  |
Revolving Credit Facility | Minimum | ABL Credit Agreement |  |  |
Debt Instrument [Line Items] |  |  |
Commitment fee percentage | 0.375% |  |
Revolving Credit Facility | Minimum | ABL Credit Agreement | One Month London Inter bank Offered Rate LIBOR |  |  |
Debt Instrument [Line Items] |  |  |
Debt instrument, stated rate | 1.00% |  |
Revolving Credit Facility | Minimum | ABL Credit Agreement | Alternate Base Rate |  |  |
Debt Instrument [Line Items] |  |  |
Basis spread on variable rate | 0.25% |  |
Revolving Credit Facility | Minimum | ABL Credit Agreement | London Interbank Offered Rate (LIBOR) |  |  |
Debt Instrument [Line Items] |  |  |
Basis spread on variable rate | 1.25% |  |
Revolving Credit Facility | Minimum | Term Loan | One Month London Inter bank Offered Rate LIBOR |  |  |
Debt Instrument [Line Items] |  |  |
Debt instrument, stated rate | 1.00% |  |
Revolving Credit Facility | Minimum | Term Loan | London Interbank Offered Rate (LIBOR) |  |  |
Debt Instrument [Line Items] |  |  |
Debt instrument, stated rate | 1.00% |  |
Revolving Credit Facility | Maximum | ABL Credit Agreement | Alternate Base Rate |  |  |
Debt Instrument [Line Items] |  |  |
Basis spread on variable rate | 0.75% |  |
Revolving Credit Facility | Maximum | ABL Credit Agreement | London Interbank Offered Rate (LIBOR) |  |  |
Debt Instrument [Line Items] |  |  |
Basis spread on variable rate | 1.75% |  |

X
- Definition Debt instrument additional stated amount if certain conditions met. + References No definition available. + Details
Name: | lcut_DebtInstrumentAdditionalStatedAmountIfCertainConditionsMet
Namespace Prefix: | lcut_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | instant

X
- Definition Debt Instrument, Covenant, Maximum Fixed Charge Coverage Ratio + References No definition available. + Details
Name: | lcut_DebtInstrumentCovenantMaximumFixedChargeCoverageRatio
Namespace Prefix: | lcut_
Data Type: | xbrli:pureItemType
Balance Type: | na
Period Type: | duration

X
- Definition Debt instrument quarterly repayment percentage of principal amount. + References No definition available. + Details
Name: | lcut_DebtInstrumentQuarterlyRepaymentPercentageOfPrincipalAmount
Namespace Prefix: | lcut_
Data Type: | dtr-types:percentItemType
Balance Type: | na
Period Type: | duration

X
- Definition Line of credit facility increased maximum borrowing capacity if certain condition met. + References No definition available. + Details
Name: | lcut_LineOfCreditFacilityIncreasedMaximumBorrowingCapacityIfCertainConditionMet
Namespace Prefix: | lcut_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | instant

X
- Definition Long Term Debt, Estimated Excess Cash Flow Payment, Current + References No definition available. + Details
Name: | lcut_LongTermDebtEstimatedExcessCashFlowPaymentCurrent
Namespace Prefix: | lcut_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | instant

X
- Definition Long Term Debt, Excess Cash Flow Payment + References No definition available. + Details
Name: | lcut_LongTermDebtExcessCashFlowPayment
Namespace Prefix: | lcut_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | instant

X
- Definition Maximum Debt Instrument Leverage Ratio + References No definition available. + Details
Name: | lcut_MaximumDebtInstrumentLeverageRatio
Namespace Prefix: | lcut_
Data Type: | xbrli:pureItemType
Balance Type: | na
Period Type: | duration

X
- Definition Minimum availability under revolving credit for three consecutive months to avoid debt covenant. + References No definition available. + Details
Name: | lcut_MinimumAmountOfBorrowingAvailabilityUnderRevolvingCreditFacility
Namespace Prefix: | lcut_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | duration

X
- Definition Minimum Term Under Revolving Credit Facility + References No definition available. + Details
Name: | lcut_MinimumTermUnderRevolvingCreditFacility
Namespace Prefix: | lcut_
Data Type: | xbrli:durationItemType
Balance Type: | na
Period Type: | duration

X
- Definition Percentage of capital stock of foreign subsidiaries pledged as collateral. + References No definition available. + Details
Name: | lcut_PercentageOfCapitalStockOfForeignSubsidiariesPledgedAsCollateral
Namespace Prefix: | lcut_
Data Type: | dtr-types:percentItemType
Balance Type: | na
Period Type: | instant

X
- Definition Percentage points added to the reference rate to compute the variable rate on the debt instrument. + References No definition available. + Details
Name: | us-gaap_DebtInstrumentBasisSpreadOnVariableRate1
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:percentItemType
Balance Type: | na
Period Type: | duration

X
- Definition Face (par) amount of debt instrument at time of issuance. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 20 -Section 50 -Paragraph 1B -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=123466505&loc=SL123495323-112611 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 835 -SubTopic 30 -Section 45 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=124435984&loc=d3e28551-108399 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 835 -SubTopic 30 -Section 55 -Paragraph 8 -URI http://asc.fasb.org/extlink&oid=114775985&loc=d3e28878-108400 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 835 -SubTopic 30 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=124429444&loc=SL124452920-239629 Reference 5: http://www.xbrl.org/2003/role/exampleRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 20 -Section 55 -Paragraph 69C -URI http://asc.fasb.org/extlink&oid=123466577&loc=SL123495737-112612 Reference 6: http://www.xbrl.org/2003/role/exampleRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 20 -Section 55 -Paragraph 69B -URI http://asc.fasb.org/extlink&oid=123466577&loc=SL123495735-112612 + Details
Name: | us-gaap_DebtInstrumentFaceAmount
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | instant

X
- Definition Contractual interest rate for funds borrowed, under the debt agreement. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 20 -Section 50 -Paragraph 1B -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=123466505&loc=SL123495323-112611 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.22(a)(1)) -URI http://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682 + Details
Name: | us-gaap_DebtInstrumentInterestRateStatedPercentage
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:percentItemType
Balance Type: | na
Period Type: | instant

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_DebtInstrumentLineItems
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The fee, expressed as a percentage of the line of credit facility, for the line of credit facility regardless of whether the facility has been used. + References No definition available. + Details
Name: | us-gaap_LineOfCreditFacilityCommitmentFeePercentage
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:percentItemType
Balance Type: | na
Period Type: | duration

X
- Definition The effective interest rate at the end of the reporting period. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.19(b),22(b)) -URI http://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682 + Details
Name: | us-gaap_LineOfCreditFacilityInterestRateAtPeriodEnd
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:percentItemType
Balance Type: | na
Period Type: | instant

X
- Definition Maximum borrowing capacity under the credit facility without consideration of any current restrictions on the amount that could be borrowed or the amounts currently outstanding under the facility. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.19(b),22(b)) -URI http://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682 + Details
Name: | us-gaap_LineOfCreditFacilityMaximumBorrowingCapacity
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | instant

X
- Definition The fee, expressed as a percentage of the line of credit facility, for available but unused credit capacity under the credit facility. + References No definition available. + Details
Name: | us-gaap_LineOfCreditFacilityUnusedCapacityCommitmentFeePercentage
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:percentItemType
Balance Type: | na
Period Type: | duration

X
- Definition The carrying value as of the balance sheet date of the current portion of long-term obligations drawn from a line of credit, which is a bank's commitment to make loans up to a specific amount. Examples of items that might be included in the application of this element may consist of letters of credit, standby letters of credit, and revolving credit arrangements, under which borrowings can be made up to a maximum amount as of any point in time conditional on satisfaction of specified terms before, as of and after the date of drawdowns on the line. Includes short-term obligations that would normally be classified as current liabilities but for which (a) postbalance sheet date issuance of a long term obligation to refinance the short term obligation on a long term basis, or (b) the enterprise has entered into a financing agreement that clearly permits the enterprise to refinance the short-term obligation on a long term basis and the following conditions are met (1) the agreement does not expire within 1 year and is not cancelable by the lender except for violation of an objectively determinable provision, (2) no violation exists at the BS date, and (3) the lender has entered into the financing agreement is expected to be financially capable of honoring the agreement. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 210 -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-03(13)) -URI http://asc.fasb.org/extlink&oid=120398452&loc=d3e534808-122878 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(19)) -URI http://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682 + Details
Name: | us-gaap_LinesOfCreditCurrent
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | instant

X
- Details
Name: | us-gaap_DebtInstrumentAxis=lcut_ABLCreditAgreementMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_DebtInstrumentAxis=lcut_DebtAgreementsMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_DebtInstrumentAxis=lcut_TermLoanMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_VariableRateAxis=lcut_FederalFundsAndOvernightBankFundingBasedRateMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_VariableRateAxis=lcut_AlternateBaseRateMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_VariableRateAxis=us-gaap_LondonInterbankOfferedRateLIBORMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | srt_RangeAxis=srt_MinimumMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_CreditFacilityAxis=lcut_SeniorSecuredAssetBasedRevolvingCreditFacilitiesMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_DebtInstrumentAxis=lcut_IncrementalFacilitiesMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_CreditFacilityAxis=us-gaap_RevolvingCreditFacilityMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_VariableRateAxis=lcut_OneMonthLondonInterBankOfferedRateLIBORMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | srt_RangeAxis=srt_MaximumMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |