XML 55 R38.htm IDEA: XBRL DOCUMENT v3.25.0.1

CAPITAL STOCK (Tables)

12 Months Ended

Dec. 31, 2024

Equity [Abstract]

Cash Dividends Declared

Dividends were declared in 2024 and 2023 as follows:

Dividend per share

Date declared

Date of record

Payment date

$0.0425

March 8, 2023

May 1, 2023

May 15, 2023

$0.0425

June 22, 2023

August 1, 2023

August 15, 2023

$0.0425

August 2, 2023

November 1, 2023

November 15, 2023

$0.0425

November 7, 2023

February 1, 2024

February 15, 2024

$0.0425

March 8, 2024

May 1, 2024

May 15, 2024

$0.0425

June 20, 2024

August 1, 2024

August 15, 2024

$0.0425

August 6, 2024

November 1, 2024

November 15, 2024

$0.0425

November 5, 2024

January 31, 2025

February 14, 2025

Summary of Stock Option Activity and Related Information

A summary of the Company’s stock option activity and related information for the three years ended December 31, 2024, is as follows:

			Options						Weighted- average exercise price						Weighted- average remaining contractual life (years)						Aggregate intrinsic value (in thousands)
Options outstanding at December 31, 2021			1,094,575						$	13.64
Grants			56,000						11.45
Exercises			(60,000)						11.64
Cancellations			(11,375)						11.16
Expirations			(13,450)						13.99
Options outstanding at December 31, 2022			1,065,750						13.66
Grants			50,000						5.92
Cancellations			(4,375)						11.27
Expirations			(111,875)						13.38
Options outstanding at December 31, 2023			999,500						13.31
Grants(1)			65,000						9.46
Cancellations			(12,500)						9.39
Expirations			(269,500)						18.09
Options outstanding at December 31, 2024(1)			782,500						11.41						4.7						$	—
Options exercisable at December 31, 2024			657,000						$	11.83					4.0						$	—

(1)Includes a non-plan stock option award of 15,000 stock options.

Fair Value Stock Options at Grant Date using Weighted Average Assumption

The fair values for these stock options were estimated at the dates of grant using the following weighted-average assumptions:

			2024						2023						2022
Historical volatility			58		%				55		%				53		%
Expected term (years)			6.3						6.3						6.3
Risk-free interest rate			4.07		%				4.25		%				3.15		%
Expected dividend yield			1.74		%				2.87		%				1.48		%

Summary of Restricted Stock Activity

A summary of the Company’s restricted stock activity and related information for the three years ended December 31, 2024 is as follows:

			Restricted Shares						Weighted- average grant date fair value
Non-vested restricted shares, December 31, 2021			429,601						$	11.47
Grants			266,713						12.03
Vested			(205,290)						11.46
Cancellations			(6,881)						10.92
Non-vested restricted shares, December 31, 2022			484,143						11.79
Grants			333,300						5.37
Vested			(212,162)						11.20
Cancellations			(7,753)						10.86
Non-vested restricted shares, December 31, 2023			597,528						8.44
Grants			313,199						9.54
Vested			(306,425)						7.53
Cancellations			(10,776)						9.96
Non-vested restricted shares, December 31, 2024			593,526						$	9.46
Total unrecognized compensation expense remaining (in thousands)			$	3,524
Weighted-average years expected to be recognized over			1.5

Summary of Performance-based Award Activity

A summary of the Company’s performance-based award activity and related information for the three years ended December 31, 2024 is as follows:

			Performance - based awards (1)						Weighted- average grant date fair value
Non-vested performance-based awards, December 31, 2021			436,330						$	10.54
Grants			123,000						12.19
Achieved performance over target (2)			12,035						9.20
Vested			(166,935)						9.20
Cancellations			(4,128)						10.64
Non-vested performance-based awards, December 31, 2022			400,302						11.56
Grants			191,075						5.92
Achieved performance over target (3)			16,942						6.36
Vested			(119,739)						6.36
Cancellations			(1,608)						12.25
Non-vested performance-based awards, December 31, 2023			486,972						10.44
Grants			219,975						9.76
Vested			(152,188)						14.18
Cancellations			(25,352)						13.08
Non-vested performance-based awards, December 31, 2024(4)			529,407						$	8.96
Total unrecognized compensation expense remaining (in thousands)			$	1,805
Weighted-average years expected to be recognized over			1.8

(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.

(3)Represents the number of shares earned over target for performance-based awards granted in 2020 based on performance goals attained. These awards vested in the three months ended March 31, 2023.

(4)The performance metric for the performance-based awards granted in 2022 was not attained at the end of the performance period. Therefore, no compensation expense has been recorded on these awards and these awards will not vest.

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

A summary of the Company’s cash-settled performance-based awards activity and related information for the year ended December 31, 2024 is as follows:

			Cash-settled performance-based awards (1)						Weighted- average fair value
Non-vested cash stock unit awards, December 31, 2021			—						$	—
Grants			87,825						7.66
Cancellations			(2,049)						10.61
Non-vested cash-settled performance-based awards, December 31, 2022			85,776						7.59
Cancellations			(2,165)						6.52
Non-vested cash-settled performance-based awards, December 31, 2023			83,611						6.71
Cancellations			(1,435)						6.25
Non-vested cash-settled performance-based awards, December 31, 2024(2)			82,176						$	5.91
Total unrecognized compensation expense remaining (in thousands)			$	—
Weighted-average years expected to be recognized over			0.0

(1)Represents the target number of units to be settled in cash.

(2)The performance metric for the cash-settled performance-based awards granted in 2022 was not attained at the end of the performance period. Therefore, no compensation expense has been recorded on these awards and these awards will not vest.

Schedule of Employee Service Share-based Compensation, Allocation of Recognized Period Costs

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

			Year Ended December 31,
Stock Compensation Expense Components			2024						2023						2022
Equity based stock option expense			$	245					$	270					$	275
Restricted and performance-based stock awards expense			3,679						3,420						3,586
Stock compensation expense for equity based awards			3,924						3,690						3,861
Liability based stock option expense			(4)						(3)						(15)
Total Stock Compensation Expense			$	3,920					$	3,687					$	3,846

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-types1:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of information related to dividends declared, including paid and unpaid dividends.

+ References

No definition available.

+ Details

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

X

- References

No definition available.

+ Details

Name:	us-gaap_EquityAbstract
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
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (h)(1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

+ 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
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

+ 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
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (d)
-SubTopic 10
-Topic 718
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (e)
-SubTopic 10
-Topic 718
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

+ 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 the significant assumptions used during the year to estimate the fair value of stock options, including, but not limited to: (a) expected term of share options and similar instruments, (b) expected volatility of the entity's shares, (c) expected dividends, (d) risk-free rate(s), and (e) discount for post-vesting restrictions.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 718
-SubTopic 10
-Subparagraph (f)(2)
-Name Accounting Standards Codification
-Paragraph 2
-Section 50
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

+ Details

Name:	us-gaap_ScheduleOfShareBasedPaymentAwardStockOptionsValuationAssumptionsTableTextBlock
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
-Name Accounting Standards Codification
-Section 50
-Subparagraph (c)
-Paragraph 2
-SubTopic 10
-Topic 718
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

+ Details

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