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SEGMENT INFORMATION (Tables) | 9 Months Ended
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Sep. 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 September 30, 2018 |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net sales | $ | 454,010 |  |  | $ | 209,622 |  |  | $ | 73,467 |  |  | $ | — |  |  | $ | 737,099 |
Inter-segment sales | 31,845 |  |  | 3,663 |  |  | 1,537 |  |  | (37,045 | ) |  | — |
Total | $ | 485,855 |  |  | $ | 213,285 |  |  | $ | 75,004 |  |  | $ | (37,045 | ) |  | $ | 737,099 |
Adjusted EBIT | $ | 89,253 |  |  | $ | 10,721 |  |  | $ | 8,676 |  |  | $ | (1,099 | ) |  | $ | 107,551 |
Special items charge (gain) (1) | 4,232 |  |  | 2,636 |  |  | — |  |  | 970 |  |  | 7,838 |
EBIT | $ | 85,021 |  |  | $ | 8,085 |  |  | $ | 8,676 |  |  | $ | (2,069 | ) |  | $ | 99,713 |
Interest income |  |  |  |  |  |  |  |  |  |  |  |  | 1,993 |
Interest expense |  |  |  |  |  |  |  |  |  |  |  |  | (5,962 | )
Income before income taxes |  |  |  |  |  |  |  |  |  |  |  |  | $ | 95,744 |
Three Months Ended September 30, 2017 |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net sales | $ | 398,289 |  |  | $ | 197,617 |  |  | $ | 73,585 |  |  | $ | — |  |  | $ | 669,491 |
Inter-segment sales | 25,546 |  |  | 5,451 |  |  | 2,064 |  |  | (33,061 | ) |  | — |
Total | $ | 423,835 |  |  | $ | 203,068 |  |  | $ | 75,649 |  |  | $ | (33,061 | ) |  | $ | 669,491 |
Adjusted EBIT | $ | 74,096 |  |  | $ | 10,612 |  |  | $ | 9,244 |  |  | $ | 570 |  |  | $ | 94,522 |
Special items charge (gain) (2) | 5,283 |  |  | 2,314 |  |  | — |  |  | (48,312 | ) |  | (40,715 | )
EBIT | $ | 68,813 |  |  | $ | 8,298 |  |  | $ | 9,244 |  |  | $ | 48,882 |  |  | $ | 135,237 |
Interest income |  |  |  |  |  |  |  |  |  |  |  |  | 1,327 |
Interest expense |  |  |  |  |  |  |  |  |  |  |  |  | (5,922 | )
Income before income taxes |  |  |  |  |  |  |  |  |  |  |  |  | $ | 130,642 |
Nine Months Ended September 30, 2018 |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net sales | $ | 1,351,297 |  |  | $ | 700,315 |  |  | $ | 233,235 |  |  | $ | — |  |  | $ | 2,284,847 |
Inter-segment sales | 89,671 |  |  | 13,669 |  |  | 5,447 |  |  | (108,787 | ) |  | — |
Total | $ | 1,440,968 |  |  | $ | 713,984 |  |  | $ | 238,682 |  |  | $ | (108,787 | ) |  | $ | 2,284,847 |
Adjusted EBIT | $ | 254,850 |  |  | $ | 41,970 |  |  | $ | 28,058 |  |  | $ | (4,443 | ) |  | $ | 320,435 |
Special items charge (gain) (1) | 4,990 |  |  | 24,353 |  |  | — |  |  | 3,665 |  |  | 33,008 |
EBIT | $ | 249,860 |  |  | $ | 17,617 |  |  | $ | 28,058 |  |  | $ | (8,108 | ) |  | $ | 287,427 |
Interest income |  |  |  |  |  |  |  |  |  |  |  |  | 5,273 |
Interest expense |  |  |  |  |  |  |  |  |  |  |  | (18,495 | )
Income before income taxes |  |  |  |  |  |  |  |  |  |  |  |  | $ | 274,205 |
Nine Months Ended September 30, 2017 |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net sales | $ | 1,186,760 |  |  | $ | 468,003 |  |  | $ | 222,483 |  |  | $ | — |  |  | $ | 1,877,246 |
Inter-segment sales | 75,380 |  |  | 15,214 |  |  | 6,763 |  |  | (97,357 | ) |  | — |
Total | $ | 1,262,140 |  |  | $ | 483,217 |  |  | $ | 229,246 |  |  | $ | (97,357 | ) |  | $ | 1,877,246 |
Adjusted EBIT | $ | 217,317 |  |  | $ | 29,713 |  |  | $ | 27,491 |  |  | $ | 369 |  |  | $ | 274,890 |
Special items charge (gain) (2) | 5,283 |  |  | 2,314 |  |  | — |  |  | (40,199 | ) |  | (32,602 | )
EBIT | $ | 212,034 |  |  | $ | 27,399 |  |  | $ | 27,491 |  |  | $ | 40,568 |  |  | $ | 307,492 |
Interest income |  |  |  |  |  |  |  |  |  |  |  |  | 3,349 |
Interest expense |  |  |  |  |  |  |  |  |  |  |  |  | (18,333 | )
Income before income taxes |  |  |  |  |  |  |  |  |  |  |  |  | $ | 292,508 |
(1) | In the three months ended September 30, 2018, special items reflect pension settlement charges of $4,232 in Americas Welding, rationalization and asset impairment charges of $2,636 in International Welding and transaction and integration costs of $970 in Corporate / Eliminations related to the Air Liquide Welding acquisition as discussed in Note 4 to the consolidated financial statements. In the nine months ended September 30, 2018, special items reflect pension settlement charges of $4,990 in Americas Welding, rationalization and asset impairment charges of $24,353 in International Welding and transaction and integration costs of $3,665 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 nine months ended September 30, 2017, special items reflect pension settlement charges of $5,283 in Americas Welding, amortization of step up in value of acquired inventories of $2,314 in International Welding and transaction and integration costs of $3,273 and $11,386, respectively, offset by a bargain purchase gain of $51,585 in Corporate / Eliminations related to the Air Liquide Welding acquisition as discussed in Note 4 to the consolidated financial statements.

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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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