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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 Welding, respectively, and amortization of step up in value of acquired inventories of $806 in International Welding related to an acquisition.