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SEGMENT INFORMATION (Tables) | 12 Months Ended
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Dec. 31, 2017
Segment Reporting [Abstract] |
Schedule of financial information for the reportable segments | Financial information for the reportable segments follows:
| Americas Welding (1) |  | International Welding (2) |  | The Harris Products Group |  | Corporate / Eliminations (3) |  | Consolidated
For the Year Ended December 31, 2017 |  |  |  |  |  |  |  |  |
Net sales | $ | 1,609,779 |  |  | $ | 724,024 |  |  | $ | 290,628 |  |  | $ | — |  |  | $ | 2,624,431 |
Inter-segment sales | 97,382 |  |  | 18,860 |  |  | 8,190 |  |  | (124,432 | ) |  | $ | — |
Total | $ | 1,707,161 |  |  | $ | 742,884 |  |  | $ | 298,818 |  |  | $ | (124,432 | ) |  | $ | 2,624,431 |
Adjusted EBIT | $ | 291,866 |  |  | $ | 41,721 |  |  | $ | 36,442 |  |  | $ | 309 |  |  | $ | 370,338 |
Special items charge (gain) | 9,242 |  |  | 10,076 |  |  | — |  |  | (34,648 | ) |  | $ | (15,330 | )
EBIT | $ | 282,624 |  |  | $ | 31,645 |  |  | $ | 36,442 |  |  | $ | 34,957 |  |  | $ | 385,668 |
Interest income |  |  |  |  |  |  |  |  | 4,788 |
Interest expense |  |  |  |  |  |  |  |  | (24,220 | )
Income before income taxes |  |  |  |  |  |  |  |  | $ | 366,236 |
Total assets | $ | 1,253,411 |  |  | $ | 919,995 |  |  | $ | 175,151 |  |  | $ | 57,990 |  |  | $ | 2,406,547 |
Equity investments in affiliates | 4,037 |  |  | 24,489 |  |  | — |  |  | — |  |  | $ | 28,526 |
Capital expenditures | 43,158 |  |  | 14,549 |  |  | 3,949 |  |  | — |  |  | $ | 61,656 |
Depreciation and amortization | 47,038 |  |  | 18,364 |  |  | 2,885 |  |  | (172 | ) |  | $ | 68,115 |
For the Year Ended December 31, 2016 |  |  |  |  |  |  |  |  |
Net sales | $ | 1,494,982 |  |  | $ | 507,289 |  |  | $ | 272,343 |  |  | $ | — |  |  | $ | 2,274,614 |
Inter-segment sales | 93,612 |  |  | 15,975 |  |  | 8,709 |  |  | (118,296 | ) |  | $ | — |
Total | $ | 1,588,594 |  |  | $ | 523,264 |  |  | $ | 281,052 |  |  | $ | (118,296 | ) |  | $ | 2,274,614 |
Adjusted EBIT | $ | 266,633 |  |  | $ | 29,146 |  |  | $ | 32,380 |  |  | $ | 564 |  |  | $ | 328,723 |
Special items charge | — |  |  | — |  |  | — |  |  | 34,348 |  |  | $ | 34,348 |
EBIT | $ | 266,633 |  |  | $ | 29,146 |  |  | $ | 32,380 |  |  | $ | (33,784 | ) |  | $ | 294,375 |
Interest income |  |  |  |  |  |  |  |  | 2,092 |
Interest expense |  |  |  |  |  |  |  |  | (19,079 | )
Income before income taxes |  |  |  |  |  |  |  |  | $ | 277,388 |
Total assets | $ | 1,278,417 |  |  | $ | 529,223 |  |  | $ | 161,391 |  |  | $ | (25,594 | ) |  | $ | 1,943,437 |
Equity investments in affiliates | 3,946 |  |  | 23,355 |  |  | — |  |  | — |  |  | $ | 27,301 |
Capital expenditures | 35,314 |  |  | 12,354 |  |  | 2,209 |  |  | — |  |  | $ | 49,877 |
Depreciation and amortization | 47,359 |  |  | 15,063 |  |  | 2,860 |  |  | (209 | ) |  | $ | 65,073 |
For the Year Ended December 31, 2015 |  |  |  |  |  |  |  |  |
Net sales | $ | 1,741,350 |  |  | $ | 530,460 |  |  | $ | 263,981 |  |  | $ | — |  |  | $ | 2,535,791 |
Inter-segment sales | 92,538 |  |  | 18,747 |  |  | 9,312 |  |  | (120,597 | ) |  | $ | — |
Total | $ | 1,833,888 |  |  | $ | 549,207 |  |  | $ | 273,293 |  |  | $ | (120,597 | ) |  | $ | 2,535,791 |
Adjusted EBIT | $ | 316,689 |  |  | $ | 34,511 |  |  | $ | 27,882 |  |  | $ | (275 | ) |  | $ | 378,807 |
Special items charge | 173,239 |  |  | 16,671 |  |  | — |  |  | — |  |  | $ | 189,910 |
EBIT | $ | 143,450 |  |  | $ | 17,840 |  |  | $ | 27,882 |  |  | $ | (275 | ) |  | $ | 188,897 |
Interest income |  |  |  |  |  |  |  |  | 2,714 |
Interest expense |  |  |  |  |  |  |  |  | (21,824 | )
Income before income taxes |  |  |  |  |  |  |  |  | $ | 169,787 |
Total assets | $ | 1,165,817 |  |  | $ | 543,254 |  |  | $ | 143,905 |  |  | $ | (68,805 | ) |  | $ | 1,784,171 |
Equity investments in affiliates | 3,791 |  |  | 23,450 |  |  | — |  |  | — |  |  | $ | 27,241 |
Capital expenditures | 35,721 |  |  | 12,059 |  |  | 2,727 |  |  | — |  |  | $ | 50,507 |
Depreciation and amortization | 45,447 |  |  | 15,776 |  |  | 2,978 |  |  | (194 | ) |  | $ | 64,007 |
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,
|  | 2017 |  | 2016 |  | 2015
Net sales: |  |  |  |  |  |
United States |  | $ | 1,388,816 |  |  | $ | 1,308,635 |  |  | $ | 1,387,882 |
Foreign countries |  | 1,235,615 |  |  | 965,979 |  |  | 1,147,909 |
Total |  | $ | 2,624,431 |  |  | $ | 2,274,614 |  |  | $ | 2,535,791 |
|  | December 31,
|  | 2017 |  | 2016 |  | 2015
Property, plant and equipment, net: |  |  |  |  |  |
United States |  | $ | 194,491 |  |  | $ | 176,041 |  |  | $ | 173,974 |
Foreign countries |  | 282,931 |  |  | 196,679 |  |  | 237,718 |
Eliminations |  | (391 | ) |  | (343 | ) |  | (369 | )
Total |  | $ | 477,031 |  |  | $ | 372,377 |  |  | $ | 411,323 |

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- Definition Tabular disclosure of information concerning material long-lived assets (excluding financial instruments, customer relationships with financial institutions, mortgage and other servicing rights, deferred policy acquisition costs, and deferred taxes assets) located in identified geographic areas and/or the amount of revenue from external customers attributed to that country from which revenue is material. An entity may also provide subtotals of geographic information about groups of countries. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 225 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SX 210.5-03.1) -URI http://asc.fasb.org/extlink&oid=63488584&loc=d3e20235-122688 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e9038-108599 + Details
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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=68060357&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=68060357&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=68060357&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=68060357&loc=d3e8736-108599 + Details
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