4 unchanged sentences
became the publicly-held parent of Lincoln Electric subsidiaries worldwide, including The Lincoln Electric Company.
−Removed: The Company is one of only a few worldwide broad-line manufacturers of welding, cutting and brazing products.
−Removed: The Company is the world leader in the design, development and manufacture of arc welding products, automated joining, assembly and cutting systems, plasma and oxy-fuel cutting equipment.
−Removed: The Company also has a leading global position in brazing and soldering alloys.
+Added: The Company is the world leader in the design, development and manufacture of arc welding solutions, automated joining, assembly and cutting systems, plasma and oxyfuel cutting equipment, and has a leading global position in brazing and soldering alloys.
The Company’s products include arc welding, brazing and soldering filler metals (consumables), arc welding equipment, plasma and oxyfuel cutting systems, wire feeding systems, fume control equipment, welding accessories, specialty gas regulators, and education solutions;
5 unchanged sentences
and (3) cored wire produced in coil form for continuous feeding in mechanized welding.
−Removed: The Company has, through wholly-owned subsidiaries, manufacturing facilities located in the United States, Australia, Austria, Brazil, Canada, China, Colombia, France, Germany, India, Italy, Mexico, Poland, Portugal, Romania, Russia, South Korea, Spain, Turkey and the United Kingdom.
+Added: The Company has, through wholly-owned subsidiaries, manufacturing facilities located in the United States, Australia, Austria, Brazil, Canada, China, Colombia, Denmark, France, Germany, India, Italy, Mexico, Poland, Portugal, Romania, South Korea, Spain, Turkey and the United Kingdom.
The Company’s business units are aligned into three operating segments.
17 unchanged sentences
Overall demand for arc welding and cutting products is largely determined by economic cycles and the level of capital spending in manufacturing and other industrial sectors.
−Removed: The Company experiences some variability in reported period-to-period results as historical demand for the Company’s products is mildly seasonal with generally higher demand in the second and third quarters.
See "Item 1A.
17 unchanged sentences
To date, compliance with these environmental regulations has not had a material adverse effect on the Company’s earnings.
−Removed: The Company is ISO 14001 certified at most significant manufacturing facilities in North America and Europe and is progressing towards certification at its remaining facilities worldwide.
+Added: The Company is ISO 14001 certified at
+Added: most significant manufacturing facilities in North America and Europe and is progressing towards certification at its remaining facilities worldwide.
In addition, the Company is ISO 9001 certified at 47 facilities worldwide.
12 unchanged sentences
The Company strongly believes that employee engagement drives better business results and that a highly engaged workforce can increase innovation, productivity and bottom-line performance while reducing costs.
−Removed: The Company engages employees through individual, small group and town hall meetings, its Advisory Board, global intranet, employee surveys, resource groups, health and safety communications and initiatives, training and development, employee wellness programs, and an ethics hotline, among other vehicles.
+Added: The Company engages employees through individual, small group and town hall meetings, global intranet, employee surveys, resource groups, health and safety communications and initiatives, training and development, employee wellness programs, and an ethics hotline, among other vehicles.
Talent Management and Development
In order to ensure the competitiveness of our workforce as well as a strong succession pipeline, the Company provides development opportunities to advance skills, knowledge and expertise.
−Removed: The Company’s programs include formal leadership, management and professional development programs, tuition reimbursement for external accredited programs, mentoring, self-guided online courses, instructor-led programs and special project and rotational assignments that can lead to extensive global exposure.
−Removed: Diversity and Inclusion
+Added: The Company’s programs include formal leadership, management and professional development programs, tuition reimbursement for external accredited programs, comprehensive employee safety and compliance training, early career and internship programs, mentoring, self-guided online courses, instructor-led programs and special project and rotational assignments that can lead to extensive global exposure.
+Added: Global Diversity and Culture
+Added: The Company has a globally diverse workforce with many cultures, subcultures, religions, lifestyles, and languages.
The Company has a longstanding commitment to equal opportunity in all aspects of employment—including employee compensation, job placement and promotion regardless of gender, race or other personal characteristics.
−Removed: The Company’s culture is underpinned by its core values, including the guiding principles championed by James F.
−Removed: Lincoln when they founded Lincoln Electric over 125 years ago – The Golden Rule:
+Added: The Company’s culture is underpinned by its core values, including the guiding principle championed by James F.
+Added: Lincoln when they founded Lincoln Electric 130 years ago – The Golden Rule:
Treat Others How You Would Like to Be Treated.
−Removed: The Company has implemented several measures that focus on accountability for making progress in diversity.
−Removed: The CEO and other senior leaders have diversity and inclusion objectives as part of their annual performance goals.
−Removed: The Company focuses on diverse talent sourcing strategies and partners with external organizations that develop and supply diverse talent.
−Removed: The Company reviews and updates its human resources processes and benchmarks roles and compensation externally on a regular basis to help prevent bias and promote a diverse and inclusive workplace.
+Added: The Company focuses on recruiting and developing diverse talent and reviews and updates its human resources processes and benchmarks roles and compensation externally on a regular basis to help prevent bias and promote an engaged, industry-leading workplace.
The Company’s compensation program is designed to attract and retain exceptional employees and to maintain a strong pay for performance culture.
1 unchanged sentence
The Company’s annual talent and succession planning process reviews 100% of its global professional staff worldwide to support the development of a talent pipeline for critical roles in general management, engineering and operations.
−Removed: This evaluation includes the Company’s CEO, as well as segment business and functional leaders who focus on high potential and diverse talent, as well as planning succession within the Company’s most critical roles.
+Added: This evaluation is utilized by the Company’s CEO, as well as segment business and functional executives, to identify high potential and diverse talent for further development to establish strong succession plans for the Company’s most critical roles.
The Company believes that the practices outlined above result in sustained increases in shareholder value and reflect its compensation philosophy of aligning long-term pay and performance.
21 unchanged sentences
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.