XML 47 R30.htm IDEA: XBRL DOCUMENT
v3.21.1

SEGMENT INFORMATION (Tables) | 3 Months Ended
--- | ---
Mar. 31, 2021
SEGMENT INFORMATION |
Schedule of financial information for the reportable segments | The following table presents Adjusted EBIT by segment: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | The Harris | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Americas | ​ | International | ​ | Products | ​ | Corporate / | ​ | ​ | ​
​ |  | Welding |  | Welding |  | Group |  | Eliminations |  | Consolidated
Three Months Ended March 31, 2021 |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |
Net sales | ​ | $ | 425,242 | ​ | $ | 223,079 | ​ | $ | 108,700 | ​ | $ | — | ​ | $ | 757,021
Inter-segment sales | ​ |  | 32,748 | ​ | ​ | 4,285 | ​ | ​ | 2,147 | ​ | ​ | (39,180) | ​ | ​ | —
Total | ​ | $ | 457,990 | ​ | $ | 227,364 | ​ | $ | 110,847 | ​ | $ | (39,180) | ​ | $ | 757,021
Adjusted EBIT | ​ | $ | 76,617 | ​ | $ | 18,816 | ​ | $ | 18,697 | ​ | $ | (1,456) | ​ | $ | 112,674
Special items charge (gain) (1) | ​ |  | 4,440 | ​ | ​ | 4,609 | ​ | ​ | — | ​ | ​ | 1,113 | ​ | ​ | 10,162
EBIT | ​ | $ | 72,177 | ​ | $ | 14,207 | ​ | $ | 18,697 | ​ | $ | (2,569) | ​ | $ | 102,512
Interest income | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | 454
Interest expense | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | (5,813)
Income before income taxes | ​ | ​ | ​ | ​ |  | ​ | ​ |  | ​ | ​ |  | ​ | ​ | $ | 97,153
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Three Months Ended March 31, 2020 | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |
Net sales | ​ | $ | 418,535 | ​ | $ | 197,923 | ​ | $ | 85,533 | ​ | $ | — | ​ | $ | 701,991
Inter-segment sales | ​ |  | 24,783 | ​ |  | 4,483 | ​ |  | 1,725 | ​ |  | (30,991) | ​ | ​ | —
Total | ​ | $ | 443,318 | ​ | $ | 202,406 | ​ | $ | 87,258 | ​ | $ | (30,991) | ​ | $ | 701,991
Adjusted EBIT | ​ | $ | 70,702 | ​ | $ | 6,615 | ​ | $ | 12,492 | ​ | $ | (1,099) | ​ | $ | 88,710
Special items charge (gain) (2) | ​ |  | 1,190 | ​ |  | 6,137 | ​ |  | — | ​ |  | — | ​ | ​ | 7,327
EBIT | ​ | $ | 69,512 | ​ | $ | 478 | ​ | $ | 12,492 | ​ | $ | (1,099) | ​ | $ | 81,383
Interest income | ​ | ​ | ​ | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  | 860
Interest expense | ​ | ​ | ​ | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  | (6,318)
Income before income taxes | ​ | ​ | ​ | ​ |  |  | ​ |  |  | ​ |  |  | ​ | $ | 75,925
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​
| (1) | In the three months ended March 31, 2021, special items reflect Rationalization and asset impairment charges of $4,163 in International Welding, pension settlement charges of $4,440 and $446 in Americas Welding and
|  | International Welding, respectively, and acquisition transaction costs of $1,113 in Corporate/Eliminations related to an acquisition.
| (2) | In the three months ended March 31, 2020, special items reflect Rationalization and asset impairment charges of $1,190 and $5,331 in Americas Welding and International We lding, respectively, and amortization of step up in value of acquired inventories of $806 in International Welding related to an acquisition.

X
- 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://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8736-108599 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8813-108599 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8906-108599 + Details
Name: | us-gaap_ScheduleOfSegmentReportingInformationBySegmentTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_SegmentReportingAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration