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SEGMENT INFORMATION (Tables)
 6 Months Ended
Jun. 30, 2018
Segment Reporting [Abstract]  
Schedule of financial information for the reportable segments
Financial information for the reportable segments follows:
 
Americas Welding
 
International Welding
 
The Harris
Products Group
 
Corporate /
Eliminations
 
Consolidated
Three Months Ended June 30, 2018
 

 
 

 
 

 
 

 
 

Net sales
$
462,515

 
$
243,373

 
$
84,164

 
$
—

 
$
790,052

Inter-segment sales
31,240

 
5,497

 
2,003

 
(38,740
)
 
—

Total
$
493,755

 
$
248,870

 
$
86,167

 
$
(38,740
)
 
$
790,052

 
 
 
 
 
 
 
 
 
 
Adjusted EBIT
$
88,158

 
$
16,276

 
$
10,157

 
$
(3,186
)
 
$
111,405

Special items charge (gain) (1)
—

 
11,542

 
—

 
788

 
12,330

EBIT
$
88,158

 
$
4,734

 
$
10,157

 
$
(3,974
)
 
$
99,075

Interest income
 

 
 

 
 

 
 

 
1,808

Interest expense
 

 
 

 
 

 
 

 
(6,620
)
Income before income taxes
 

 
 

 
 

 
 

 
$
94,263

Three Months Ended June 30, 2017
 

 
 

 
 

 
 

 
 

Net sales
$
405,147

 
$
141,498

 
$
80,213

 
$
—

 
$
626,858

Inter-segment sales
27,374

 
5,478

 
2,399

 
(35,251
)
 
—

Total
$
432,521

 
$
146,976

 
$
82,612

 
$
(35,251
)
 
$
626,858

 
 
 
 
 
 
 
 
 
 
Adjusted EBIT
$
74,498

 
$
9,496

 
$
9,787

 
$
(265
)
 
$
93,516

Special items charge (gain) (2)
—

 
—

 
—

 
4,498

 
4,498

EBIT
$
74,498

 
$
9,496

 
$
9,787

 
$
(4,763
)
 
$
89,018

Interest income
 

 
 

 
 

 
 

 
1,245

Interest expense
 

 
 

 
 

 
 

 
(6,297
)
Income before income taxes
 

 
 

 
 

 
 

 
$
83,966

Six Months Ended June 30, 2018
 

 
 

 
 

 
 

 
 

Net sales
$
897,287

 
$
490,693

 
$
159,768

 
$
—

 
$
1,547,748

Inter-segment sales
57,826

 
10,006

 
3,910

 
(71,742
)
 
—

Total
$
955,113

 
$
500,699

 
$
163,678

 
$
(71,742
)
 
$
1,547,748

 
 
 
 
 
 
 
 
 
 
Adjusted EBIT
$
165,597

 
$
31,249

 
$
19,382

 
$
(3,344
)
 
$
212,884

Special items charge (gain) (1)
758

 
21,717

 
—

 
2,695

 
25,170

EBIT
$
164,839

 
$
9,532

 
$
19,382

 
$
(6,039
)
 
$
187,714

Interest income
 

 
 

 
 

 
 

 
3,280

Interest expense
 

 
 

 
 

 
 
 
(12,533
)
Income before income taxes
 

 
 

 
 

 
 

 
$
178,461

Six Months Ended June 30, 2017
 

 
 

 
 

 
 

 
 

Net sales
$
788,471

 
$
270,386

 
$
148,898

 
$
—

 
$
1,207,755

Inter-segment sales
49,834

 
9,763

 
4,699

 
(64,296
)
 
—

Total
$
838,305

 
$
280,149

 
$
153,597

 
$
(64,296
)
 
$
1,207,755

 
 
 
 
 
 
 
 
 
 
Adjusted EBIT
$
143,221

 
$
19,101

 
$
18,247

 
$
(201
)
 
$
180,368

Special items charge (gain) (2)
—

 
—

 
—

 
8,113

 
8,113

EBIT
$
143,221

 
$
19,101

 
$
18,247

 
$
(8,314
)
 
$
172,255

Interest income
 

 
 

 
 

 
 

 
2,022

Interest expense
 

 
 

 
 

 
 

 
(12,411
)
Income before income taxes
 

 
 

 
 

 
 

 
$
161,866




(1)
In the three months ended June 30, 2018, special items reflect rationalization and asset impairment charges of $11,542 in International Welding and transaction and integration costs of $788 in Corporate/Eliminations related to the Air Liquide Welding acquisition as discussed in Note 4 to the consolidated financial statements. In the six months ended June 30, 2018, special items reflect pension settlement charges of $758 in Americas Welding, rationalization and asset impairment charges of $21,717 in International Welding and transaction and integration costs of $2,695 in Corporate / Eliminations related to the Air Liquide Welding acquisition as discussed in Note 4 to the consolidated financial statements.
(2)
In the three and six months ended June 30, 2017, special items in Corporate / Eliminations reflect transaction and integration costs of $4,498 and $8,113, respectively, related to the Air Liquide Welding acquisition as discussed in Note 4 to the consolidated financial statements.