XML 54 R43.htm IDEA: XBRL DOCUMENT v3.21.2
SEGMENT INFORMATION (Financial Information of Reportable Segments) (Details) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Sep. 30, 2021
Sep. 30, 2020
Financial information for the reportable segments        
Net sales (Note 2) $ 806,454 $ 668,888 $ 2,389,929 $ 1,961,606
Revenue from Related Parties 0 0 0 0
Segment, including Inter-segment, sales 806,454 668,888 2,389,929 1,961,606
Adjusted EBIT 124,865 88,300 365,994 243,143
Special items charge (Gain) 80,736 9,445 95,829 43,344
EBIT 44,129 78,855 270,165 199,799
Interest income 333 293 1,185 1,576
Interest expense (6,047) (5,845) (17,921) (18,467)
Income before income taxes 38,415 73,303 253,429 182,908
Rationalization and asset impairment charges (gains) 3,484 6,257 8,277 36,016
Defined Benefit Plan, Net Periodic Benefit Cost (Credit), Gain (Loss) Due to Settlement and Curtailment (73,562)   (79,652)  
Business Combination, Inventory Step Up 3,690   5,531  
Corporate/Eliminations        
Financial information for the reportable segments        
Net sales (Note 2) 0 0 0 0
Revenue from Related Parties (46,503) (36,164) (134,629) (100,687)
Segment, including Inter-segment, sales (46,503) (36,164) (134,629) (100,687)
Adjusted EBIT (4,704) (1,839) (10,048) (4,902)
Special items charge (Gain)     1,923  
EBIT (4,704) (1,839) (11,971) (4,902)
Acquisition Transaction and Integration Costs     1,923  
Acquisition Transaction and Integration Costs     1,923  
Americas Welding [Member]        
Financial information for the reportable segments        
Rationalization and asset impairment charges (gains)   3,856   27,719
Defined Benefit Plan, Net Periodic Benefit Cost (Credit), Gain (Loss) Due to Settlement and Curtailment 73,562 3,188 79,652 6,522
Americas Welding [Member] | Operating Segments        
Financial information for the reportable segments        
Net sales (Note 2) 461,508 371,535 1,344,218 1,123,299
Revenue from Related Parties 37,480 29,368 109,993 81,644
Segment, including Inter-segment, sales 498,988 400,903 1,454,211 1,204,943
Adjusted EBIT 84,557 59,120 245,308 176,524
Special items charge (Gain) 73,574 7,044 79,664 34,241
EBIT 10,983 52,076 165,644 142,283
International Welding [Member]        
Financial information for the reportable segments        
Rationalization and asset impairment charges (gains) 3,484 2,401 8,277 8,297
Defined Benefit Plan, Net Periodic Benefit Cost (Credit), Gain (Loss) Due to Settlement and Curtailment     446  
Business Combination, Inventory Step Up       806
International Welding [Member] | Operating Segments        
Financial information for the reportable segments        
Net sales (Note 2) 227,165 196,937 702,596 572,027
Revenue from Related Parties 7,078 4,898 18,260 13,667
Segment, including Inter-segment, sales 234,243 201,835 720,856 585,694
Adjusted EBIT 29,032 13,432 77,845 29,729
Special items charge (Gain) 6,615 2,401 13,695 9,103
EBIT 22,417 11,031 64,150 20,626
The Harris Products Group | Operating Segments        
Financial information for the reportable segments        
Net sales (Note 2) 117,781 100,416 343,115 266,280
Revenue from Related Parties 1,945 1,898 6,376 5,376
Segment, including Inter-segment, sales 119,726 102,314 349,491 271,656
Adjusted EBIT 15,980 17,587 52,889 41,792
Special items charge (Gain) 547   547  
EBIT $ 15,433 $ 17,587 $ 52,342 $ 41,792