SEGMENT INFORMATION

The Company's business units are aligned into three operating segments. The operating segments consist of Americas Welding, International Welding and The Harris Products Group. The Americas Welding segment includes welding operations in North and South America. The International Welding segment includes welding operations in Europe, Africa, Asia and Australia. The Harris Products Group includes the Company’s global cutting, soldering and brazing businesses as well as its retail business in the United States.

Segment performance is measured and resources are allocated based on a number of factors, the primary measure being the adjusted earnings before interest and income taxes (“Adjusted EBIT”) profit measure. EBIT is defined as Operating income plus Other income (expense). EBIT is adjusted for special items as determined by management such as the impact of rationalization activities, certain asset impairment charges and gains or losses on disposals of assets.

The following table presents Adjusted EBIT by segment:



	Americas Welding		International Welding		The Harris Products Group		Corporate / Eliminations			Consolidated
Three Months Ended March 31, 2019
Net sales	$	457,719	$	218,086	$	83,369	$	—		$	759,174
Inter-segment sales	29,388		4,209		1,867		(35,464		)	—
Total	$	487,107	$	222,295	$	85,236	$	(35,464	)	$	759,174

Adjusted EBIT	$	81,752	$	13,337	$	10,519	$	(3,042	)	$	102,566
Special items charge ⁽¹⁾	1,336		2,199		—		790			4,325
EBIT	$	80,416	$	11,138	$	10,519	$	(3,832	)	$	98,241
Interest income										964
Interest expense										(6,287		)
Income before income taxes										$	92,918
Three Months Ended March 31, 2018
Net sales	$	434,772	$	247,320	$	75,604	$	—		$	757,696
Inter-segment sales	26,586		4,509		1,907		(33,002		)	—
Total	$	461,358	$	251,829	$	77,511	$	(33,002	)	$	757,696

Adjusted EBIT	$	77,439	$	14,973	$	9,225	$	(158	)	$	101,479
Special items charge ⁽²⁾	758		10,175		—		1,907			12,840
EBIT	$	76,681	$	4,798	$	9,225	$	(2,065	)	$	88,639
Interest income										1,472
Interest expense										(5,913		)
Income before income taxes										$	84,198


(1)	In the three months ended March 31, 2019, special items reflect Rationalization and asset impairment charges of $1,336 in Americas Welding and $2,199 in International Welding and transaction and integration costs of $790 in Corporate / Eliminations related to the Air Liquide Welding acquisition.


(2)	In the three months ended March 31, 2018, special items reflect pension settlement charges of $758 in Americas Welding, Rationalization and asset impairment charges of $10,175 in International Welding and transaction and integration costs of $1,907 in Corporate / Eliminations related to the Air Liquide Welding acquisition.