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ACQUISITIONS Acquisitions (Tables) | 3 Months Ended
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Mar. 31, 2018
Business Combinations [Abstract] |
Business Combination [Table Text Block] | The following table summarizes the purchase price allocation for the Air Liquide Welding acquisition:
Assets acquired and liabilities assumed |  | As of July 31, 2017
Accounts receivable |  | $ | 89,442 |
Inventory (1) |  | 97,803 |
Property, plant and equipment (2) |  | 73,056 |
Intangible assets (3) |  | 11,715 |
Accounts payable |  | (65,640 | )
Pension liability |  | (67,563 | )
Bargain purchase gain |  | (49,650 | )
Net other assets and liabilities (4) |  | (27,210 | )
Total purchase price, net of cash acquired (5) |  | $ | 61,953 |
(1) | Inventories acquired were sold in 2017 resulting in a $4,578 increase in Cost of goods sold for the year ended December 31, 2017 related to the amortization of step up in the value of acquired inventories.
(2) | Property, plant and equipment acquired includes a number of manufacturing and distribution sites, including the related facilities, land and leased sites, and machinery and equipment for use in manufacturing operations.
(3) | $7,099 of the intangible asset balance was assigned to a trade name expected to have an indefinite life. Of the remaining amount, $1,183 was assigned to a finite-lived trade name (10 year weighted average useful life) and $3,433 was assigned to other intangible assets (9 year weighted average life).
(4) | Consists primarily of other accrued liabilities.
(5) Reflects a receivable from seller for an agreed upon purchase price adjustment. The payment of $10,983 was received in the first quarter of 2018.

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