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SEGMENT INFORMATION (Tables) | 3 Months Ended
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Mar. 31, 2022
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, 2022 |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |
Net sales | ​ | $ | 534,055 | ​ | $ | 258,041 | ​ | $ | 133,352 | ​ | $ | — | ​ | $ | 925,448
Inter-segment sales | ​ |  | 28,156 | ​ | ​ | 6,228 | ​ | ​ | 3,062 | ​ | ​ | (37,446) | ​ | ​ | —
Total | ​ | $ | 562,211 | ​ | $ | 264,269 | ​ | $ | 136,414 | ​ | $ | (37,446) | ​ | $ | 925,448
Adjusted EBIT | ​ | $ | 111,568 | ​ | $ | 37,087 | ​ | $ | 19,598 | ​ | $ | (4,801) | ​ | $ | 163,452
Special items charge (gain) (1) | ​ |  | (3,735) | ​ | ​ | 1,347 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | (2,388)
EBIT | ​ | $ | 115,303 | ​ | $ | 35,740 | ​ | $ | 19,598 | ​ | $ | (4,801) | ​ | $ | 165,840
Interest income | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | 376
Interest expense | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | (6,574)
Income before income taxes | ​ | ​ | ​ | ​ |  | ​ | ​ |  | ​ | ​ |  | ​ | ​ | $ | 159,642
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
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) (2) | ​ |  | 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
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​
| (1) | In the three months ended March 31, 2022, special items reflect Rationalization charges of $1,885 in International Welding and the final settlement related to the termination of a pension plan of $3,735 in Americas Welding.
| (2) | In the three months ended March 31, 2021, special items reflect Rationalization and asset impairment charges of $4,163 in International We lding, 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.

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- 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=123359005&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=123359005&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=123359005&loc=d3e8906-108599 + Details
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