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RATIONALIZATION AND ASSET IMPAIRMENTS | 3 Months Ended
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Mar. 31, 2018
Restructuring and Related Activities [Abstract] |
RATIONALIZATION AND ASSET IMPAIRMENTS | RATIONALIZATION AND ASSET IMPAIRMENTS The Company recorded rationalization and asset impairment charges of $10,175 in the three months ended March 31, 2018. The 2018 charges include $9,499 primarily related to employee severance and $676 in asset impairment charges. A description of the Company's restructuring plans and the related costs is as follows: During 2018, the Company initiated rationalization plans within International Welding. The plans include headcount restructuring and the consolidation of manufacturing operations to better align the cost structures with economic conditions and operating needs. At March 31, 2018, liabilities of $7,613 were recognized in Other current liabilities in the Company's Condensed Consolidated Balance Sheet. During 2017, the Company initiated rationalization plans within International Welding. The plans includes headcount restructuring and the consolidation of manufacturing operations to better align the cost structures with economic conditions and operating needs. At March 31, 2018, liabilities of $1,442 were recognized in Other current liabilities in the Company's Condensed Consolidated Balance Sheet. As of March 31, 2018, the Company expects additional charges in the range of $3,500 to $4,000 to be recorded related to the completion of the International Welding plans. The Company believes the rationalization actions will positively impact future results of operations and will not have a material effect on liquidity and sources and uses of capital. The Company continues to evaluate its cost structure and additional rationalization actions may result in charges in future periods. The following table summarizes the activity related to the rationalization liabilities in the International Welding segment:
| Three Months Ended March 31, 2018
Balance, December 31, 2017 | $ | 6,803 |
Payments and other adjustments | (3,941 | )
Charged to expense | 9,499 |
Balance, March 31, 2018 | $ | 12,361 |

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- Definition The entire disclosure of costs incurred for restructuring including, but not limited to, exit and disposal activities, remediation, implementation, integration, asset impairment, and charges against earnings from the write-down of assets. + References No definition available. + Details
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