XML 42 R32.htm IDEA: XBRL DOCUMENT v3.22.2

STOCK COMPENSATION (Tables)

6 Months Ended

Jun. 30, 2022

Share-based Payment Arrangement [Abstract]

Summary of Stock Option Activity and Related Information

A summary of the Company’s stock option activity and related information for the six months ended June 30, 2022 is as follows:

			Options						Weighted- average exercise price						Weighted- average remaining contractual life (years)						Aggregate intrinsic value (in thousands)
Options outstanding, January 1, 2022			1,094,575						$	13.64
Grants			56,000						11.45
Exercises			(60,000)						11.64
Cancellations			(5,125)						10.60
Expirations			(11,850)						13.30
Options outstanding, June 30, 2022			1,073,600						13.66						4.9						$	668
Options exercisable, June 30, 2022			958,725						$	13.93					4.4						$	579
Total unrecognized stock option expense remaining (in thousands)			$	601
Weighted-average years expected to be recognized over			2.1

Summary of Restricted Stock Activity

A summary of the Company’s restricted stock activity and related information for the six months ended June 30, 2022 is as follows:

			Restricted Shares						Weighted- average grant date fair value
Non-vested restricted shares, January 1, 2022			429,601						$	11.47
Grants			266,713						12.03
Vested			(171,799)						11.89
Cancellations			(5,256)						10.73
Non-vested restricted shares, June 30, 2022			519,259						$	11.63
Total unrecognized compensation expense remaining (in thousands)			$	5,469
Weighted-average years expected to be recognized over			1.8

Summary of Performance-based Award Activity

A summary of the Company’s performance-based award activity and related information for the six months ended June 30, 2022 is as follows:

			Performance- based stock awards (1)						Weighted- average grant date fair value
Non-vested performance-based awards, January 1, 2022			436,330						$	10.54
Grants			123,000						12.19
Achieved performance over target (2)			12,035						9.20
Vested			(166,935)						9.20
Cancellations			(3,776)						10.50
Non-vested performance-based awards, June 30, 2022			400,654						$	11.56
Total unrecognized compensation expense remaining (in thousands)			$	3,059
Weighted-average years expected to be recognized over			1.9

(1)Represents the target number of shares to be issued for each performance-based award.

(2)Represents the number of shares earned over target for performance-based awards granted in 2019 based on performance goals attained. These awards vested in the three months ended March 31, 2022.

Share-based Payment Arrangement, Cash Settled Performance Shares, Activity [Table Text Block]

A summary of the Company’s cash-settled performance-based awards activity and related information for the six months ended June 30, 2022 is as follows:

			Cash-settled performance-based awards (1)						Weighted- average fair value
Non-vested cash-settled performance-based awards, January 1, 2022			—						$	—
Grants			87,825						11.05
Cancellations			(1,237)						11.85
Non-vested cash-settled performance-based awards, June 30, 2022			86,588						$	11.04
Total unrecognized compensation expense remaining (in thousands)			$	849
Weighted-average years expected to be recognized over			2.5

Summary of Stock Compensation Expense

The Company recorded stock compensation expense as follows (in thousands):

			Three Months Ended June 30,												Six Months Ended June 30,
Stock Compensation Expense Components			2022						2021						2022						2021
Equity based stock option expense			$	93					$	102					$	180					$	226
Restricted and performance-based stock awards expense			1,187						1,221						2,251						2,536
Stock compensation expense for equity based awards			$	1,280					$	1,323					$	2,431					$	2,762
Liability based stock option expense			(1)						5						(6)						10
Cash-settled performance-based awards expense			86						—						114						—
Total Stock Compensation Expense			$	1,365					$	1,328					$	2,539					$	2,772

X

- Definition

Share-based Payment Arrangement, Cash Settled Performance Shares, Activity

+ References

No definition available.

+ Details

Name:	lcut_ShareBasedPaymentArrangementCashSettledPerformanceSharesActivityTableTextBlock
Namespace Prefix:	lcut_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- References

No definition available.

+ Details

Name:	us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of allocation of amount expensed and capitalized for award under share-based payment arrangement to statement of income or comprehensive income and statement of financial position. Includes, but is not limited to, corresponding line item in financial statement.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (h)(1)
-URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SAB Topic 14.F)
-URI http://asc.fasb.org/extlink&oid=122041274&loc=d3e301413-122809

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5047-113901

+ Details

Name:	us-gaap_ScheduleOfEmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the number and weighted-average grant date fair value for restricted stock units that were outstanding at the beginning and end of the year, and the number of restricted stock units that were granted, vested, or forfeited during the year.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (c)(1)
-URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901

+ Details

Name:	us-gaap_ScheduleOfShareBasedCompensationRestrictedStockUnitsAwardActivityTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure for stock option plans. Includes, but is not limited to, outstanding awards at beginning and end of year, grants, exercises, forfeitures, and weighted-average grant date fair value.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (d)
-URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (e)
-URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (c)(1)
-URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901

+ Details

Name:	us-gaap_ScheduleOfShareBasedCompensationStockOptionsActivityTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of number and weighted-average grant date fair value for nonvested performance shares.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901

+ Details

Name:	us-gaap_ShareBasedCompensationPerformanceSharesAwardUnvestedActivityTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration