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SEGMENT INFORMATION (Tables) | 12 Months Ended
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Dec. 31, 2015
Segment Reporting [Abstract] |
Schedule of financial information for the reportable segments | Financial information for the reportable segments follows:
| North America Welding |  | Europe Welding |  | Asia Pacific Welding |  | South America Welding |  | The Harris Products Group |  | Corporate / Eliminations |  | Consolidated
For the Year Ended December 31, 2015 |  |  |  |  |  |  |  |  |  |  |  |  |
Net sales | $ | 1,610,357 |  |  | $ | 336,824 |  |  | $ | 186,615 |  |  | $ | 138,014 |  |  | $ | 263,981 |  |  | $ | — |  |  | $ | 2,535,791 |
Inter-segment sales | 100,770 |  |  | 15,922 |  |  | 10,510 |  |  | 174 |  |  | 9,312 |  |  | (136,688 | ) |  | $ | — |
Total | $ | 1,711,127 |  |  | $ | 352,746 |  |  | $ | 197,125 |  |  | $ | 138,188 |  |  | $ | 273,293 |  |  | $ | (136,688 | ) |  | $ | 2,535,791 |
EBIT, as adjusted | $ | 306,746 |  |  | $ | 31,317 |  |  | $ | 7,392 |  |  | $ | 5,569 |  |  | $ | 27,882 |  |  | $ | (99 | ) |  | $ | 378,807 |
Special items charge (gain) | 155,757 |  |  | 1,507 |  |  | 5,432 |  |  | 27,214 |  |  | — |  |  | — |  |  | $ | 189,910 |
EBIT | $ | 150,989 |  |  | $ | 29,810 |  |  | $ | 1,960 |  |  | $ | (21,645 | ) |  | $ | 27,882 |  |  | $ | (99 | ) |  | $ | 188,897 |
Interest income |  |  |  |  |  |  |  |  |  |  |  |  | 2,714 |
Interest expense |  |  |  |  |  |  |  |  |  |  |  |  | (21,824 | )
Income before income taxes |  |  |  |  |  |  |  |  |  |  |  |  | $ | 169,787 |
Total assets | $ | 1,101,056 |  |  | $ | 298,825 |  |  | $ | 239,382 |  |  | $ | 82,575 |  |  | $ | 143,905 |  |  | $ | (81,572 | ) |  | $ | 1,784,171 |
Equity investments in affiliates | — |  |  | 23,450 |  |  | — |  |  | 3,791 |  |  | — |  |  | — |  |  | $ | 27,241 |
Capital expenditures | 31,578 |  |  | 6,508 |  |  | 5,480 |  |  | 4,214 |  |  | 2,727 |  |  | — |  |  | $ | 50,507 |
Depreciation and amortization | 44,344 |  |  | 8,296 |  |  | 7,026 |  |  | 1,765 |  |  | 2,596 |  |  | (20 | ) |  | $ | 64,007 |
For the Year Ended December 31, 2014 |  |  |  |  |  |  |  |  |  |  |  |  |
Net sales | $ | 1,700,924 |  |  | $ | 425,775 |  |  | $ | 243,800 |  |  | $ | 148,595 |  |  | $ | 294,230 |  |  | $ | — |  |  | $ | 2,813,324 |
Inter-segment sales | 124,732 |  |  | 19,586 |  |  | 14,820 |  |  | 144 |  |  | 8,210 |  |  | (167,492 | ) |  | $ | — |
Total | $ | 1,825,656 |  |  | $ | 445,361 |  |  | $ | 258,620 |  |  | $ | 148,739 |  |  | $ | 302,440 |  |  | $ | (167,492 | ) |  | $ | 2,813,324 |
EBIT, as adjusted | $ | 335,465 |  |  | $ | 48,822 |  |  | $ | 1,321 |  |  | $ | 15,953 |  |  | $ | 28,563 |  |  | $ | 4,216 |  |  | $ | 434,340 |
Special items charge (gain) | (68 | ) |  | 904 |  |  | 28,635 |  |  | 21,715 |  |  | — |  |  | — |  |  | $ | 51,186 |
EBIT | $ | 335,533 |  |  | $ | 47,918 |  |  | $ | (27,314 | ) |  | $ | (5,762 | ) |  | $ | 28,563 |  |  | $ | 4,216 |  |  | $ | 383,154 |
Interest income |  |  |  |  |  |  |  |  |  |  |  |  | 3,093 |
Interest expense |  |  |  |  |  |  |  |  |  |  |  |  | (10,434 | )
Income before income taxes |  |  |  |  |  |  |  |  |  |  |  |  | $ | 375,813 |
Total assets | $ | 1,111,065 |  |  | $ | 359,337 |  |  | $ | 284,573 |  |  | $ | 138,114 |  |  | $ | 147,990 |  |  | $ | (101,864 | ) |  | $ | 1,939,215 |
Equity investments in affiliates | — |  |  | 23,902 |  |  | — |  |  | 3,579 |  |  | — |  |  | — |  |  | $ | 27,481 |
Capital expenditures | 51,691 |  |  | 5,619 |  |  | 3,959 |  |  | 10,896 |  |  | 825 |  |  | — |  |  | $ | 72,990 |
Depreciation and amortization | 43,659 |  |  | 10,823 |  |  | 9,799 |  |  | 2,085 |  |  | 3,512 |  |  | (271 | ) |  | $ | 69,607 |
For the Year Ended December 31, 2013 |  |  |  |  |  |  |  |  |  |  |  |  |
Net sales | $ | 1,652,769 |  |  | $ | 429,548 |  |  | $ | 266,282 |  |  | $ | 195,895 |  |  | $ | 308,177 |  |  | $ | — |  |  | $ | 2,852,671 |
Inter-segment sales | 127,254 |  |  | 19,911 |  |  | 14,906 |  |  | 233 |  |  | 9,605 |  |  | (171,909 | ) |  | $ | — |
Total | $ | 1,780,023 |  |  | $ | 449,459 |  |  | $ | 281,188 |  |  | $ | 196,128 |  |  | $ | 317,782 |  |  | $ | (171,909 | ) |  | $ | 2,852,671 |
EBIT, as adjusted | $ | 318,507 |  |  | $ | 36,247 |  |  | $ | 1,815 |  |  | $ | 57,306 |  |  | $ | 27,826 |  |  | $ | (4,350 | ) |  | $ | 437,351 |
Special items charge (gain) | 1,052 |  |  | 2,045 |  |  | 6,071 |  |  | 12,198 |  |  | — |  |  | — |  |  | $ | 21,366 |
EBIT | $ | 317,455 |  |  | $ | 34,202 |  |  | $ | (4,256 | ) |  | $ | 45,108 |  |  | $ | 27,826 |  |  | $ | (4,350 | ) |  | $ | 415,985 |
Interest income |  |  |  |  |  |  |  |  |  |  |  |  | 3,320 |
Interest expense |  |  |  |  |  |  |  |  |  |  |  |  | (2,864 | )
Income before income taxes |  |  |  |  |  |  |  |  |  |  |  |  | $ | 416,441 |
Total assets | $ | 1,048,412 |  |  | $ | 403,094 |  |  | $ | 325,656 |  |  | $ | 169,027 |  |  | $ | 162,496 |  |  | $ | 43,182 |  |  | $ | 2,151,867 |
Equity investments in affiliates | — |  |  | 23,315 |  |  | — |  |  | 3,303 |  |  | — |  |  | — |  |  | $ | 26,618 |
Capital expenditures | 41,181 |  |  | 10,305 |  |  | 2,073 |  |  | 20,840 |  |  | 3,931 |  |  | (2,315 | ) |  | $ | 76,015 |
Depreciation and amortization | 39,086 |  |  | 10,933 |  |  | 13,559 |  |  | 1,893 |  |  | 3,636 |  |  | (224 | ) |  | $ | 68,883 |
Schedule of geographical split of the Company's net sales, based on the location of the customers, and property plant equipment | The geographic split of the Company's Net sales, based on the location of the customer, and property, plant and equipment were as follows:
|  | Year Ended December 31,
|  | 2015 |  | 2014 |  | 2013
Net sales: |  |  |  |  |  |
United States |  | $ | 1,387,882 |  |  | $ | 1,417,750 |  |  | $ | 1,350,309 |
China |  | 137,101 |  |  | 190,035 |  |  | 219,490 |
Other foreign countries |  | 1,010,808 |  |  | 1,205,539 |  |  | 1,282,872 |
Total |  | $ | 2,535,791 |  |  | $ | 2,813,324 |  |  | $ | 2,852,671 |
|  | December 31,
|  | 2015 |  | 2014 |  | 2013
Property, plant and equipment, net: |  |  |  |  |  |
United States |  | $ | 173,974 |  |  | $ | 171,746 |  |  | $ | 162,357 |
China |  | 53,673 |  |  | 57,783 |  |  | 83,416 |
Other foreign countries |  | 184,045 |  |  | 209,640 |  |  | 238,685 |
Eliminations |  | (369 | ) |  | (423 | ) |  | (453 | )
Total |  | $ | 411,323 |  |  | $ | 438,746 |  |  | $ | 484,005 |

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- Definition Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8906-108599 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8813-108599 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8721-108599 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=35741047&loc=d3e13816-109267 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8736-108599 + Details
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