XML 73 R59.htm IDEA: XBRL DOCUMENT v3.22.4
SEGMENT INFORMATION (Financial Information of Reportable Segments) (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Financial information for the reportable segments      
Net sales (Note 2) $ 3,761,211 $ 3,234,180 $ 2,655,400
Inter-segment sales 0 0 0
Total 3,761,211 3,234,180 2,655,400
Adjusted EBIT 636,951 491,268 340,406
Special items charge (gain) 14,624 144,056 54,393
EBIT 622,327 347,212 286,013
Interest income 1,607 1,567 1,986
Interest expense (31,107) (23,781) (23,959)
Income before income taxes 592,827 324,998 264,040
Assets 3,180,546 2,592,307 2,314,453
Equity investments in affiliates 5,101 5,181 4,682
Capital expenditures 71,883 62,531 59,201
Depreciation and amortization 78,059 81,146 80,492
Rationalization and asset impairment charges (gains) 11,788 9,827 45,468
Pension settlement net charges   126,056  
Corporate/Eliminations      
Financial information for the reportable segments      
Inter-segment sales (164,562) (175,077) (134,906)
Total (164,562) (175,077) (134,906)
Adjusted EBIT (10,033) (12,403) (5,455)
Special items charge (gain) 6,003 1,923 0
EBIT (16,036) (14,326) (5,455)
Assets (299,077) (197,515) (142,306)
Equity investments in affiliates 0 0 0
Capital expenditures 0 0 0
Depreciation and amortization 0 (157) (93)
Acquisition Transaction and Integration Costs 6,003 1,923  
Americas Welding      
Financial information for the reportable segments      
Rationalization and asset impairment charges (gains) (431)   26,870
Pension settlement net charges (3,735) 123,091 8,119
Business Combination, Inventory Step Up 1,106    
Americas Welding | Operating Segments      
Financial information for the reportable segments      
Net sales (Note 2) 2,288,934 1,824,481 1,509,870
Inter-segment sales 122,019 140,650 109,378
Total 2,410,953 1,965,131 1,619,248
Adjusted EBIT 462,819 329,016 245,728
Special items charge (gain) (3,060) 123,114 34,989
EBIT 465,879 205,902 210,739
Assets 2,122,729 1,521,083 1,423,393
Equity investments in affiliates 5,101 5,181 4,682
Capital expenditures 43,003 37,717 30,811
Depreciation and amortization 47,291 49,510 51,744
International Welding      
Financial information for the reportable segments      
Rationalization and asset impairment charges (gains) 11,681 9,804 18,598
Pension settlement net charges   446  
Business Combination, Inventory Step Up   4,984 806
International Welding | Operating Segments      
Financial information for the reportable segments      
Net sales (Note 2) 954,281 948,125 786,809
Inter-segment sales 31,503 26,331 18,494
Total 985,784 974,456 805,303
Adjusted EBIT 120,157 106,208 44,979
Special items charge (gain) 11,681 15,234 19,404
EBIT 108,476 90,974 25,575
Assets 994,905 938,061 807,407
Equity investments in affiliates 0 0 0
Capital expenditures 17,955 16,916 21,819
Depreciation and amortization 20,949 24,998 23,859
The Harris Products Group      
Financial information for the reportable segments      
Pension settlement net charges   2,965  
Business Combination, Inventory Step Up   820  
The Harris Products Group | Operating Segments      
Financial information for the reportable segments      
Net sales (Note 2) 517,996 461,574 358,721
Inter-segment sales 11,040 8,096 7,034
Total 529,036 469,670 365,755
Adjusted EBIT 64,008 68,447 55,154
Special items charge (gain) 0 3,785 0
EBIT 64,008 64,662 55,154
Assets 361,989 330,678 225,959
Equity investments in affiliates 0 0 0
Capital expenditures 10,925 7,898 6,571
Depreciation and amortization $ 9,819 $ 6,795 $ 4,982