XML 85 R80.htm IDEA: XBRL DOCUMENT v2.4.1.9
RETIREMENT ANNUITY AND GUARANTEED CONTINUOUS EMPLOYMENT PLANS (Pension Plan Assets by Level with the Fair Value Hierarchy) (Details) (USD $)
In Thousands, unless otherwise specified
Dec. 31, 2014
Dec. 31, 2013
Dec. 31, 2012
Pension plans' assets by level within the fair value hierarchy      
Total assets at fair value $ 1,010,937us-gaap_DefinedBenefitPlanFairValueOfPlanAssets $ 939,995us-gaap_DefinedBenefitPlanFairValueOfPlanAssets $ 813,897us-gaap_DefinedBenefitPlanFairValueOfPlanAssets
Quoted Prices in Active Markets for Identical Assets (Level 1)      
Pension plans' assets by level within the fair value hierarchy      
Total assets at fair value 32,178us-gaap_DefinedBenefitPlanFairValueOfPlanAssets
/ us-gaap_FairValueByFairValueHierarchyLevelAxis
= us-gaap_FairValueInputsLevel1Member
0us-gaap_DefinedBenefitPlanFairValueOfPlanAssets
/ us-gaap_FairValueByFairValueHierarchyLevelAxis
= us-gaap_FairValueInputsLevel1Member
 
Significant Other Observable Inputs (Level 2)      
Pension plans' assets by level within the fair value hierarchy      
Total assets at fair value 940,744us-gaap_DefinedBenefitPlanFairValueOfPlanAssets
/ us-gaap_FairValueByFairValueHierarchyLevelAxis
= us-gaap_FairValueInputsLevel2Member
907,432us-gaap_DefinedBenefitPlanFairValueOfPlanAssets
/ us-gaap_FairValueByFairValueHierarchyLevelAxis
= us-gaap_FairValueInputsLevel2Member
 
Significant Unobservable Inputs (Level 3)      
Pension plans' assets by level within the fair value hierarchy      
Total assets at fair value 38,015us-gaap_DefinedBenefitPlanFairValueOfPlanAssets
/ us-gaap_FairValueByFairValueHierarchyLevelAxis
= us-gaap_FairValueInputsLevel3Member
32,563us-gaap_DefinedBenefitPlanFairValueOfPlanAssets
/ us-gaap_FairValueByFairValueHierarchyLevelAxis
= us-gaap_FairValueInputsLevel3Member
 
Cash and cash equivalents      
Pension plans' assets by level within the fair value hierarchy      
Total assets at fair value 4,873us-gaap_DefinedBenefitPlanFairValueOfPlanAssets
/ us-gaap_DefinedBenefitPlanByPlanAssetCategoriesAxis
= us-gaap_CashAndCashEquivalentsMember
   
Cash and cash equivalents | Quoted Prices in Active Markets for Identical Assets (Level 1)      
Pension plans' assets by level within the fair value hierarchy      
Total assets at fair value 4,873us-gaap_DefinedBenefitPlanFairValueOfPlanAssets
/ us-gaap_DefinedBenefitPlanByPlanAssetCategoriesAxis
= us-gaap_CashAndCashEquivalentsMember
/ us-gaap_FairValueByFairValueHierarchyLevelAxis
= us-gaap_FairValueInputsLevel1Member
   
Cash and cash equivalents | Significant Other Observable Inputs (Level 2)      
Pension plans' assets by level within the fair value hierarchy      
Total assets at fair value 0us-gaap_DefinedBenefitPlanFairValueOfPlanAssets
/ us-gaap_DefinedBenefitPlanByPlanAssetCategoriesAxis
= us-gaap_CashAndCashEquivalentsMember
/ us-gaap_FairValueByFairValueHierarchyLevelAxis
= us-gaap_FairValueInputsLevel2Member
   
Cash and cash equivalents | Significant Unobservable Inputs (Level 3)      
Pension plans' assets by level within the fair value hierarchy      
Total assets at fair value 0us-gaap_DefinedBenefitPlanFairValueOfPlanAssets
/ us-gaap_DefinedBenefitPlanByPlanAssetCategoriesAxis
= us-gaap_CashAndCashEquivalentsMember
/ us-gaap_FairValueByFairValueHierarchyLevelAxis
= us-gaap_FairValueInputsLevel3Member
   
Corporate and other obligations      
Pension plans' assets by level within the fair value hierarchy      
Total assets at fair value 212,326us-gaap_DefinedBenefitPlanFairValueOfPlanAssets
/ us-gaap_DefinedBenefitPlanByPlanAssetCategoriesAxis
= us-gaap_CorporateDebtSecuritiesMember
[1]    
Corporate and other obligations | Quoted Prices in Active Markets for Identical Assets (Level 1)      
Pension plans' assets by level within the fair value hierarchy      
Total assets at fair value 0us-gaap_DefinedBenefitPlanFairValueOfPlanAssets
/ us-gaap_DefinedBenefitPlanByPlanAssetCategoriesAxis
= us-gaap_CorporateDebtSecuritiesMember
/ us-gaap_FairValueByFairValueHierarchyLevelAxis
= us-gaap_FairValueInputsLevel1Member
   
Corporate and other obligations | Significant Other Observable Inputs (Level 2)      
Pension plans' assets by level within the fair value hierarchy      
Total assets at fair value 212,326us-gaap_DefinedBenefitPlanFairValueOfPlanAssets
/ us-gaap_DefinedBenefitPlanByPlanAssetCategoriesAxis
= us-gaap_CorporateDebtSecuritiesMember
/ us-gaap_FairValueByFairValueHierarchyLevelAxis
= us-gaap_FairValueInputsLevel2Member
   
Corporate and other obligations | Significant Unobservable Inputs (Level 3)      
Pension plans' assets by level within the fair value hierarchy      
Total assets at fair value 0us-gaap_DefinedBenefitPlanFairValueOfPlanAssets
/ us-gaap_DefinedBenefitPlanByPlanAssetCategoriesAxis
= us-gaap_CorporateDebtSecuritiesMember
/ us-gaap_FairValueByFairValueHierarchyLevelAxis
= us-gaap_FairValueInputsLevel3Member
   
Common Trusts and 103 by 12 Investments Cash and Cash Equivalents [Member]      
Pension plans' assets by level within the fair value hierarchy      
Total assets at fair value 7,499us-gaap_DefinedBenefitPlanFairValueOfPlanAssets
/ us-gaap_DefinedBenefitPlanByPlanAssetCategoriesAxis
= leco_CommonTrustsand103by12InvestmentsCashandCashEquivalentsMember
[2] 4,686us-gaap_DefinedBenefitPlanFairValueOfPlanAssets
/ us-gaap_DefinedBenefitPlanByPlanAssetCategoriesAxis
= leco_CommonTrustsand103by12InvestmentsCashandCashEquivalentsMember
[2]  
Common Trusts and 103 by 12 Investments Cash and Cash Equivalents [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1)      
Pension plans' assets by level within the fair value hierarchy      
Total assets at fair value 0us-gaap_DefinedBenefitPlanFairValueOfPlanAssets
/ us-gaap_DefinedBenefitPlanByPlanAssetCategoriesAxis
= leco_CommonTrustsand103by12InvestmentsCashandCashEquivalentsMember
/ us-gaap_FairValueByFairValueHierarchyLevelAxis
= us-gaap_FairValueInputsLevel1Member
0us-gaap_DefinedBenefitPlanFairValueOfPlanAssets
/ us-gaap_DefinedBenefitPlanByPlanAssetCategoriesAxis
= leco_CommonTrustsand103by12InvestmentsCashandCashEquivalentsMember
/ us-gaap_FairValueByFairValueHierarchyLevelAxis
= us-gaap_FairValueInputsLevel1Member
 
Common Trusts and 103 by 12 Investments Cash and Cash Equivalents [Member] | Significant Other Observable Inputs (Level 2)      
Pension plans' assets by level within the fair value hierarchy      
Total assets at fair value 7,499us-gaap_DefinedBenefitPlanFairValueOfPlanAssets
/ us-gaap_DefinedBenefitPlanByPlanAssetCategoriesAxis
= leco_CommonTrustsand103by12InvestmentsCashandCashEquivalentsMember
/ us-gaap_FairValueByFairValueHierarchyLevelAxis
= us-gaap_FairValueInputsLevel2Member
4,686us-gaap_DefinedBenefitPlanFairValueOfPlanAssets
/ us-gaap_DefinedBenefitPlanByPlanAssetCategoriesAxis
= leco_CommonTrustsand103by12InvestmentsCashandCashEquivalentsMember
/ us-gaap_FairValueByFairValueHierarchyLevelAxis
= us-gaap_FairValueInputsLevel2Member
 
Common Trusts and 103 by 12 Investments Cash and Cash Equivalents [Member] | Significant Unobservable Inputs (Level 3)      
Pension plans' assets by level within the fair value hierarchy      
Total assets at fair value 0us-gaap_DefinedBenefitPlanFairValueOfPlanAssets
/ us-gaap_DefinedBenefitPlanByPlanAssetCategoriesAxis
= leco_CommonTrustsand103by12InvestmentsCashandCashEquivalentsMember
/ us-gaap_FairValueByFairValueHierarchyLevelAxis
= us-gaap_FairValueInputsLevel3Member
0us-gaap_DefinedBenefitPlanFairValueOfPlanAssets
/ us-gaap_DefinedBenefitPlanByPlanAssetCategoriesAxis
= leco_CommonTrustsand103by12InvestmentsCashandCashEquivalentsMember
/ us-gaap_FairValueByFairValueHierarchyLevelAxis
= us-gaap_FairValueInputsLevel3Member
 
US Treasury Bond Securities [Member]      
Pension plans' assets by level within the fair value hierarchy      
Total assets at fair value 27,305us-gaap_DefinedBenefitPlanFairValueOfPlanAssets
/ us-gaap_DefinedBenefitPlanByPlanAssetCategoriesAxis
= us-gaap_USTreasuryBondSecuritiesMember
[1]    
US Treasury Bond Securities [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1)      
Pension plans' assets by level within the fair value hierarchy      
Total assets at fair value 27,305us-gaap_DefinedBenefitPlanFairValueOfPlanAssets
/ us-gaap_DefinedBenefitPlanByPlanAssetCategoriesAxis
= us-gaap_USTreasuryBondSecuritiesMember
/ us-gaap_FairValueByFairValueHierarchyLevelAxis
= us-gaap_FairValueInputsLevel1Member
   
US Treasury Bond Securities [Member] | Significant Other Observable Inputs (Level 2)      
Pension plans' assets by level within the fair value hierarchy      
Total assets at fair value 0us-gaap_DefinedBenefitPlanFairValueOfPlanAssets
/ us-gaap_DefinedBenefitPlanByPlanAssetCategoriesAxis
= us-gaap_USTreasuryBondSecuritiesMember
/ us-gaap_FairValueByFairValueHierarchyLevelAxis
= us-gaap_FairValueInputsLevel2Member
   
US Treasury Bond Securities [Member] | Significant Unobservable Inputs (Level 3)      
Pension plans' assets by level within the fair value hierarchy      
Total assets at fair value 0us-gaap_DefinedBenefitPlanFairValueOfPlanAssets
/ us-gaap_DefinedBenefitPlanByPlanAssetCategoriesAxis
= us-gaap_USTreasuryBondSecuritiesMember
/ us-gaap_FairValueByFairValueHierarchyLevelAxis
= us-gaap_FairValueInputsLevel3Member
   
Common trusts and 103-12 investments      
Pension plans' assets by level within the fair value hierarchy      
Total assets at fair value 720,919us-gaap_DefinedBenefitPlanFairValueOfPlanAssets
/ us-gaap_DefinedBenefitPlanByPlanAssetCategoriesAxis
= leco_CommonTrustsAnd103By12InvestmentsMember
[2] 902,746us-gaap_DefinedBenefitPlanFairValueOfPlanAssets
/ us-gaap_DefinedBenefitPlanByPlanAssetCategoriesAxis
= leco_CommonTrustsAnd103By12InvestmentsMember
[2]  
Common trusts and 103-12 investments | Quoted Prices in Active Markets for Identical Assets (Level 1)      
Pension plans' assets by level within the fair value hierarchy      
Total assets at fair value 0us-gaap_DefinedBenefitPlanFairValueOfPlanAssets
/ us-gaap_DefinedBenefitPlanByPlanAssetCategoriesAxis
= leco_CommonTrustsAnd103By12InvestmentsMember
/ us-gaap_FairValueByFairValueHierarchyLevelAxis
= us-gaap_FairValueInputsLevel1Member
0us-gaap_DefinedBenefitPlanFairValueOfPlanAssets
/ us-gaap_DefinedBenefitPlanByPlanAssetCategoriesAxis
= leco_CommonTrustsAnd103By12InvestmentsMember
/ us-gaap_FairValueByFairValueHierarchyLevelAxis
= us-gaap_FairValueInputsLevel1Member
 
Common trusts and 103-12 investments | Significant Other Observable Inputs (Level 2)      
Pension plans' assets by level within the fair value hierarchy      
Total assets at fair value 720,919us-gaap_DefinedBenefitPlanFairValueOfPlanAssets
/ us-gaap_DefinedBenefitPlanByPlanAssetCategoriesAxis
= leco_CommonTrustsAnd103By12InvestmentsMember
/ us-gaap_FairValueByFairValueHierarchyLevelAxis
= us-gaap_FairValueInputsLevel2Member
902,746us-gaap_DefinedBenefitPlanFairValueOfPlanAssets
/ us-gaap_DefinedBenefitPlanByPlanAssetCategoriesAxis
= leco_CommonTrustsAnd103By12InvestmentsMember
/ us-gaap_FairValueByFairValueHierarchyLevelAxis
= us-gaap_FairValueInputsLevel2Member
 
Common trusts and 103-12 investments | Significant Unobservable Inputs (Level 3)      
Pension plans' assets by level within the fair value hierarchy      
Total assets at fair value 0us-gaap_DefinedBenefitPlanFairValueOfPlanAssets
/ us-gaap_DefinedBenefitPlanByPlanAssetCategoriesAxis
= leco_CommonTrustsAnd103By12InvestmentsMember
/ us-gaap_FairValueByFairValueHierarchyLevelAxis
= us-gaap_FairValueInputsLevel3Member
0us-gaap_DefinedBenefitPlanFairValueOfPlanAssets
/ us-gaap_DefinedBenefitPlanByPlanAssetCategoriesAxis
= leco_CommonTrustsAnd103By12InvestmentsMember
/ us-gaap_FairValueByFairValueHierarchyLevelAxis
= us-gaap_FairValueInputsLevel3Member
 
Private equity funds      
Pension plans' assets by level within the fair value hierarchy      
Total assets at fair value 38,015us-gaap_DefinedBenefitPlanFairValueOfPlanAssets
/ us-gaap_DefinedBenefitPlanByPlanAssetCategoriesAxis
= us-gaap_PrivateEquityFundsMember
[3] 32,563us-gaap_DefinedBenefitPlanFairValueOfPlanAssets
/ us-gaap_DefinedBenefitPlanByPlanAssetCategoriesAxis
= us-gaap_PrivateEquityFundsMember
[3]  
Private equity funds | Quoted Prices in Active Markets for Identical Assets (Level 1)      
Pension plans' assets by level within the fair value hierarchy      
Total assets at fair value 0us-gaap_DefinedBenefitPlanFairValueOfPlanAssets
/ us-gaap_DefinedBenefitPlanByPlanAssetCategoriesAxis
= us-gaap_PrivateEquityFundsMember
/ us-gaap_FairValueByFairValueHierarchyLevelAxis
= us-gaap_FairValueInputsLevel1Member
0us-gaap_DefinedBenefitPlanFairValueOfPlanAssets
/ us-gaap_DefinedBenefitPlanByPlanAssetCategoriesAxis
= us-gaap_PrivateEquityFundsMember
/ us-gaap_FairValueByFairValueHierarchyLevelAxis
= us-gaap_FairValueInputsLevel1Member
 
Private equity funds | Significant Other Observable Inputs (Level 2)      
Pension plans' assets by level within the fair value hierarchy      
Total assets at fair value 0us-gaap_DefinedBenefitPlanFairValueOfPlanAssets
/ us-gaap_DefinedBenefitPlanByPlanAssetCategoriesAxis
= us-gaap_PrivateEquityFundsMember
/ us-gaap_FairValueByFairValueHierarchyLevelAxis
= us-gaap_FairValueInputsLevel2Member
0us-gaap_DefinedBenefitPlanFairValueOfPlanAssets
/ us-gaap_DefinedBenefitPlanByPlanAssetCategoriesAxis
= us-gaap_PrivateEquityFundsMember
/ us-gaap_FairValueByFairValueHierarchyLevelAxis
= us-gaap_FairValueInputsLevel2Member
 
Private equity funds | Significant Unobservable Inputs (Level 3)      
Pension plans' assets by level within the fair value hierarchy      
Total assets at fair value $ 38,015us-gaap_DefinedBenefitPlanFairValueOfPlanAssets
/ us-gaap_DefinedBenefitPlanByPlanAssetCategoriesAxis
= us-gaap_PrivateEquityFundsMember
/ us-gaap_FairValueByFairValueHierarchyLevelAxis
= us-gaap_FairValueInputsLevel3Member
$ 32,563us-gaap_DefinedBenefitPlanFairValueOfPlanAssets
/ us-gaap_DefinedBenefitPlanByPlanAssetCategoriesAxis
= us-gaap_PrivateEquityFundsMember
/ us-gaap_FairValueByFairValueHierarchyLevelAxis
= us-gaap_FairValueInputsLevel3Member
 
[1] Fixed income securities are primarily comprised of governmental and corporate bonds directly held by the plans. Governmental and corporate bonds are valued using both market observable inputs for similar assets that are traded on an active market and the closing price on the active market on which the individual securities are traded.
[2] Common trusts and 103-12 investments (collectively "Trusts") are comprised of a number of investment funds that invest in a diverse portfolio of assets including equity securities, corporate and governmental bonds, equity and credit indexes, and money markets. Trusts are valued at the net asset value ("NAV") as determined by their custodian. NAV represents the accumulation of the unadjusted quoted close prices on the reporting date for the underlying investments divided by the total shares outstanding at the reporting dates.
[3] Private equity funds consist of four funds seeking capital appreciation by investing in private equity investment partnerships and venture capital companies. Funds are comprised of unrestricted and restricted publicly traded securities and privately held securities. Unrestricted securities are valued at the closing market price on the reporting date. Restricted securities may be valued at a discount from such closing public market price, depending on facts and circumstances. Privately held securities are valued at fair value as determined by the fund directors and general partners.