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QUARTERLY FINANCIAL DATA (UNAUDITED) (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 12 Months Ended
--- | --- | ---
Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2015 | Sep. 30, 2015 | Jun. 30, 2015 | Mar. 31, 2015 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014
Quarterly financial data (unaudited) |  |  |  |  |  |  |  |  |  |  |
Deconsolidation, Gain (Loss), Amount |  |  | $ (34,348) |  |  |  |  |  | $ (34,348) | $ 0 | $ 0
DeconsolidationGainOrLossAmountNet |  |  | (33,251) |  |  |  |  |  | (33,251) |  |
IncomeTaxSpecialItemChargeGain |  |  | (7,196) |  |  |  |  |  |  |  |
Net sales | $ 563,828 | $ 567,646 | 592,418 | $ 550,722 | $ 567,985 | $ 645,166 | $ 664,740 | $ 657,900 | 2,274,614 | 2,535,791 | 2,813,324
Gross profit | 197,457 | 199,812 | 202,927 | 189,102 | 196,079 | 198,894 | 225,781 | 220,390 | 789,298 | 841,144 | 949,297
Income before income taxes | 78,152 | 80,296 | 45,758 | 73,182 | 71,172 | (88,526) | 94,434 | 92,707 | 277,388 | 169,787 | 375,813
Net income | $ 53,395 | $ 60,049 | $ 31,317 | $ 53,638 | $ 48,692 | $ (60,466) | $ 70,898 | $ 68,354 | $ 198,399 | $ 127,478 | $ 254,686
Basic earnings per share (in dollars per share) | $ 0.81 | $ 0.90 | $ 0.46 | $ 0.77 | $ 0.68 | $ (0.82) | $ 0.95 | $ 0.90 | $ 2.94 | $ 1.72 | $ 3.22
Diluted earnings per share (in dollars per share) | $ 0.81 | $ 0.89 | $ 0.45 | $ 0.76 | $ 0.68 | $ (0.82) | $ 0.94 | $ 0.89 | $ 2.91 | $ 1.70 | $ 3.18
Rationalization and asset impairment net gains (charges) |  |  |  |  | $ (434) | $ (18,285) | $ (1,239) |  | $ 0 | $ (19,958) | $ (30,053)
Rationalization and asset impairment net gains (charges), after-tax |  |  |  |  | (450) | (16,832) | $ (900) |  |  |  |
Goodwill, Impairment Loss |  |  |  |  |  |  |  |  |  | 6,315 |
Foreign Currency Transaction Loss, before Tax |  |  |  |  |  |  |  |  |  | 4,334 | 17,665
Special items charge (Gain) |  |  |  |  |  |  |  |  | 34,348 | 189,910 | 51,186
Defined Benefit Plan, Recognized Net Gain (Loss) Due to Settlements and Curtailments |  |  |  |  | (6,407) | (136,331) |  |  | 1,062 | (142,738) | (1,773)
Defined Benefit Plan Recognized Net Gain (Loss) Due To Settlements Net Of Tax |  |  |  |  | (3,969) | (83,341) |  |  |  |  |
Inventory Write-down |  |  |  |  |  |  |  |  |  | 22,880 | 3,468
Americas Welding [Member] |  |  |  |  |  |  |  |  |  |  |
Quarterly financial data (unaudited) |  |  |  |  |  |  |  |  |  |  |
Net sales |  |  |  |  |  |  |  |  | 1,494,982 | 1,741,350 | 1,837,670
Goodwill, Impairment Loss |  |  |  |  |  | 6,315 |  |  |  | 0 |
Special items charge (Gain) |  |  |  |  |  | 26,506 |  |  | $ 0 | 173,239 | $ 21,647
Asset Impairment Charges |  |  |  |  |  |  |  |  |  | $ 3,417 |
Inventory Write-down |  |  |  |  | $ 708 |  |  |  |  |  |
Finite-Lived Intangible Assets [Member] |  |  |  |  |  |  |  |  |  |  |
Quarterly financial data (unaudited) |  |  |  |  |  |  |  |  |  |  |
Asset Impairment Charges |  |  |  |  |  | $ 3,417 |  |  |  |  |

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