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SEGMENT INFORMATION (Tables)
 12 Months Ended
Dec. 31, 2018
Segment Reporting [Abstract]  
Schedule of financial information for the reportable segments
Financial information for the reportable segments follows:
 
Americas Welding (1)
 
International Welding (2)
 
The Harris
Products
Group
 
Corporate /
Eliminations (3)
 
Consolidated
For the Year Ended
   December 31, 2018
 
 
 
 
 
 
 
 
 
Net sales
$
1,806,514

 
$
919,771

 
$
302,389

 
$
—

 
$
3,028,674

Inter-segment sales
118,936

 
18,576

 
6,969

 
(144,481
)
 
$
—

Total
$
1,925,450

 
$
938,347

 
$
309,358

 
$
(144,481
)
 
$
3,028,674

Adjusted EBIT
$
340,744

 
$
54,273

 
$
36,564

 
$
(8,887
)
 
$
422,694

Special items charge (gain)
6,686

 
25,285

 
—

 
4,498

 
$
36,469

EBIT
$
334,058

 
$
28,988

 
$
36,564

 
$
(13,385
)
 
$
386,225

Interest income
 
 
 
 
 
 
 
 
6,938

Interest expense
 
 
 
 
 
 
 
 
(24,503
)
Income before income taxes
 
 
 
 
 
 
 
 
$
368,660

 
 
 
 
 
 
 
 
 
 
Total assets
$
1,418,905

 
$
827,132

 
$
203,095

 
$
(99,307
)
 
$
2,349,825

Equity investments in affiliates
4,204

 
27,024

 
—

 
—

 
$
31,228

Capital expenditures
42,053

 
26,284

 
2,909

 
—

 
$
71,246

Depreciation and amortization
47,008

 
22,384

 
3,045

 
(91
)
 
$
72,346

For the Year Ended
   December 31, 2017
 
 
 
 
 
 
 
 
 
Net sales
$
1,609,779

 
$
724,024

 
$
290,628

 
$
—

 
$
2,624,431

Inter-segment sales
97,382

 
18,860

 
8,190

 
(124,432
)
 
$
—

Total
$
1,707,161

 
$
742,884

 
$
298,818

 
$
(124,432
)
 
$
2,624,431

Adjusted EBIT
$
291,866

 
$
41,721

 
$
36,442

 
$
309

 
$
370,338

Special items charge (gain)
9,242

 
10,076

 
—

 
(34,648
)
 
$
(15,330
)
EBIT
$
282,624

 
$
31,645

 
$
36,442

 
$
34,957

 
$
385,668

Interest income
 
 
 
 
 
 
 
 
4,788

Interest expense
 
 
 
 
 
 
 
 
(24,220
)
Income before income taxes
 
 
 
 
 
 
 
 
$
366,236

 
 
 
 
 
 
 
 
 
 
Total assets
$
1,253,411

 
$
919,995

 
$
175,151

 
$
57,990

 
$
2,406,547

Equity investments in affiliates
4,037

 
24,489

 
—

 
—

 
$
28,526

Capital expenditures
43,158

 
14,549

 
3,949

 
—

 
$
61,656

Depreciation and amortization
47,038

 
18,364

 
2,885

 
(172
)
 
$
68,115

For the Year Ended
   December 31, 2016
 
 
 
 
 
 
 
 
 
Net sales
$
1,494,982

 
$
507,289

 
$
272,343

 
$
—

 
$
2,274,614

Inter-segment sales
93,612

 
15,975

 
8,709

 
(118,296
)
 
$
—

Total
$
1,588,594

 
$
523,264

 
$
281,052

 
$
(118,296
)
 
$
2,274,614

Adjusted EBIT
$
266,633

 
$
29,146

 
$
32,380

 
$
564

 
$
328,723

Special items charge
—

 
—

 
—

 
34,348

 
$
34,348

EBIT
$
266,633

 
$
29,146

 
$
32,380

 
$
(33,784
)
 
$
294,375

Interest income
 
 
 
 
 
 
 
 
2,092

Interest expense
 
 
 
 
 
 
 
 
(19,079
)
Income before income taxes
 
 
 
 
 
 
 
 
$
277,388

 
 
 
 
 
 
 
 
 
 
Total assets
$
1,278,417

 
$
529,223

 
$
161,391

 
$
(25,594
)
 
$
1,943,437

Equity investments in affiliates
3,946

 
23,355

 
—

 
—

 
$
27,301

Capital expenditures
35,314

 
12,354

 
2,209

 
—

 
$
49,877

Depreciation and amortization
47,359

 
15,063

 
2,860

 
(209
)
 
$
65,073


(1)
Special items in 2018 reflect pension settlement charges of $6,686 in Americas Welding related to lump sum pension payments.
2017 special items reflect pension settlement charges of $8,150 related to lump sum pension payments, as well as non-cash charges of $1,091 related to the impairment of goodwill.
(2)
2018 special items reflect charges of $25,285 related to employee severance, asset impairments, gains or losses on disposal of assets and other related costs.
2017 special items reflect amortization of step up in value of acquired inventories of $4,578 related to the Air Liquide Welding acquisition as discussed in Note 4 to the consolidated financial statements, as well as charges of $5,498 related to employee severance, asset impairments and other related costs.
(3)
2018 special items reflect acquisition and acquisition transaction and integration costs of $4,498 related to the Air Liquide Welding acquisition as discussed in Note 4 to the consolidated financial statements.
2017 special items reflect a bargain purchase gain of $49,650 and acquisition transaction and integration costs of $15,002 related to the Air Liquide Welding acquisition as discussed in Note 4 to the consolidated financial statements.
2016 special items reflect a loss of $34,348 related to the deconsolidation of the Company's Venezuelan subsidiary.
Schedule of geographical split of the Company's net sales, based on the location of the customers, and property plant equipment
The geographic split of the Company's Net sales, based on the location of the customer, and property, plant and equipment were as follows:
 
 
Year Ended December 31,
 
 
2018
 
2017
 
2016
Net sales:
 
 
 
 
 
 
United States
 
$
1,554,688

 
$
1,388,816

 
$
1,308,635

Foreign countries
 
1,473,986

 
1,235,615

 
965,979

Total
 
$
3,028,674

 
$
2,624,431

 
$
2,274,614

 
 
December 31,
 
 
2018
 
2017
 
2016
Property, plant and equipment, net:
 
 
 
 
 
 
United States
 
$
214,943

 
$
194,491

 
$
176,041

Foreign countries
 
264,110

 
282,931

 
196,679

Eliminations
 
(252
)
 
(391
)
 
(343
)
Total
 
$
478,801

 
$
477,031

 
$
372,377