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SEGMENT INFORMATION (Tables)
 9 Months Ended
Sep. 30, 2017
Segment Reporting [Abstract]  
Schedule of financial information for the reportable segments
Financial information for the reportable segments follows:
 
Americas Welding (1)
 
International Welding (1)
 
The Harris
Products Group
 
Corporate /
Eliminations (1)
 
Consolidated
Three Months Ended September 30, 2017
 

 
 

 
 

 
 

 
 

Net sales
$
398,289

 
$
197,617

 
$
73,585

 
$
—

 
$
669,491

Inter-segment sales
25,546

 
5,451

 
2,064

 
(33,061
)
 
—

Total
$
423,835

 
$
203,068

 
$
75,649

 
$
(33,061
)
 
$
669,491

 
 
 
 
 
 
 
 
 
 
Adjusted EBIT
$
74,096

 
$
10,612

 
$
9,244

 
$
570

 
$
94,522

Special items charge (gain)
5,283

 
2,314

 
—

 
(48,312
)
 
(40,715
)
EBIT
$
68,813

 
$
8,298

 
$
9,244

 
$
48,882

 
$
135,237

Interest income
 

 
 

 
 

 
 

 
1,327

Interest expense
 

 
 

 
 

 
 

 
(5,922
)
Income before income taxes
 

 
 

 
 

 
 

 
$
130,642

Three Months Ended September 30, 2016
 

 
 

 
 

 
 

 
 

Net sales
$
377,520

 
$
119,564

 
$
70,562

 
$
—

 
$
567,646

Inter-segment sales
22,386

 
3,688

 
1,856

 
(27,930
)
 
—

Total
$
399,906

 
$
123,252

 
$
72,418

 
$
(27,930
)
 
$
567,646

 
 
 
 
 
 
 
 
 
 
Adjusted EBIT
$
68,285

 
$
5,796

 
$
8,757

 
$
913

 
$
83,751

Special items charge (gain)
—

 
—

 
—

 
—

 
—

EBIT
$
68,285

 
$
5,796

 
$
8,757

 
$
913

 
$
83,751

Interest income
 

 
 

 
 

 
 

 
360

Interest expense
 

 
 

 
 

 
 

 
(3,815
)
Income before income taxes
 

 
 

 
 

 
 

 
$
80,296

Nine Months Ended September 30, 2017
 

 
 

 
 

 
 

 
 

Net sales
$
1,186,760

 
$
468,003

 
$
222,483

 
$
—

 
$
1,877,246

Inter-segment sales
75,380

 
15,214

 
6,763

 
(97,357
)
 
—

Total
$
1,262,140

 
$
483,217

 
$
229,246

 
$
(97,357
)
 
$
1,877,246

 
 
 
 
 
 
 
 
 
 
Adjusted EBIT
$
217,317

 
$
29,713

 
$
27,491

 
$
369

 
$
274,890

Special items charge (gain)
5,283

 
2,314

 
—

 
(40,199
)
 
(32,602
)
EBIT
$
212,034

 
$
27,399

 
$
27,491

 
$
40,568

 
$
307,492

Interest income
 

 
 

 
 

 
 

 
3,349

Interest expense
 

 
 

 
 

 
 
 
(18,333
)
Income before income taxes
 

 
 

 
 

 
 

 
$
292,508

Nine Months Ended September 30, 2016
 

 
 

 
 

 
 

 
 

Net sales
$
1,124,900

 
$
376,684

 
$
209,202

 
$
—

 
$
1,710,786

Inter-segment sales
69,673

 
11,955

 
6,983

 
(88,611
)
 
—

Total
$
1,194,573

 
$
388,639

 
$
216,185

 
$
(88,611
)
 
$
1,710,786

 
 
 
 
 
 
 
 
 
 
Adjusted EBIT
$
194,924

 
$
21,699

 
$
25,752

 
$
1,812

 
$
244,187

Special items charge (gain)
—

 
—

 
—

 
34,348

 
34,348

EBIT
$
194,924

 
$
21,699

 
$
25,752

 
$
(32,536
)
 
$
209,839

Interest income
 

 
 

 
 

 
 

 
1,225

Interest expense
 

 
 

 
 

 
 

 
(11,828
)
Income before income taxes
 

 
 

 
 

 
 

 
$
199,236




(1) In the three and nine months ended September 30, 2017, special items reflect pension settlement charges in Americas Welding, amortization of step up in value of acquired inventories in International Welding and transaction and integration costs offset by a bargain purchase gain in Corporate / Eliminations related to the Air Liquide Welding acquisition as discussed in Note 3. In the nine months ended September 30, 2016, special items in Corporate / Eliminations reflect a loss on the deconsolidation of the Venezuelan subsidiary.