XML 54 R43.htm IDEA: XBRL DOCUMENT v3.8.0.1
ACQUISITIONS (Details) - USD ($)
$ in Thousands
1 Months Ended 3 Months Ended 12 Months Ended
Jul. 31, 2017
Mar. 31, 2018
Mar. 31, 2017
Dec. 31, 2017
Dec. 31, 2016
Acquisitions          
Business Combination, Provisional Information, Initial Accounting Incomplete, Adjustment, Inventory       $ 4,578  
Business Combination Receivable From Seller   $ 10,983      
Sales Revenue, Goods, Net   757,696 $ 580,897    
Business Combination, Bargain Purchase, Gain Recognized, Amount       (49,650)  
Special Items Charge (Gain) [1]   12,840 3,615    
Payments to Acquire Businesses, Net of Cash Acquired   (6,235) 0    
Air Liquide Welding [Member]          
Acquisitions          
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets, Receivables $ 89,442        
Indefinite-Lived Intangible Assets (Excluding Goodwill) 7,099        
Sales Revenue, Goods, Net   107,000     $ 400,000
Business Combination, Bargain Purchase, Gain Recognized, Amount (49,650)        
Business Combination, Recognized Identifiable Other Assets Acquired and Other Liabilities Assumed, Net [2] (27,210)        
Business Combination, Consideration Transferred 135,123        
Special Items Charge (Gain)   $ 1,907 $ 3,615    
Payments to Acquire Businesses, Net of Cash Acquired 61,953 [3]     $ 61,953  
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Inventory [4] 97,803        
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Property, Plant, and Equipment [5] 73,056        
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles [6] 11,715        
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Liabilities, Accounts Payable (65,640)        
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Pension Liability $ (67,563)        
Trademarks and Trade Names [Member] | Air Liquide Welding [Member]          
Acquisitions          
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life 10 years        
Other Intangible Assets, Net $ 1,183        
Other Intangible Assets [Member] | Air Liquide Welding [Member]          
Acquisitions          
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life 9 years        
Other Intangible Assets, Net $ 3,433        
[1] In the three months ended March 31, 2018, special items reflect pension settlement charges in Americas Welding, rationalization and asset impairment charges in International Welding and transaction and integration costs in Corporate / Eliminations related to the Air Liquide Welding acquisition as discussed in Note 4. In the three months ended March 31, 2017, special items in Corporate / Eliminations reflect transaction and integration costs related to the Air Liquide Welding acquisition.
[2] Consists primarily of other accrued liabilities.
[3] 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.
[4] 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.
[5] 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.
[6] $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).