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v3.23.1

SEGMENT INFORMATION (Tables) | 3 Months Ended
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Mar. 31, 2023
SEGMENT INFORMATION |
Schedule of financial information for the reportable segments | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | The Harris | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Americas | ​ | International | ​ | Products | ​ | Corporate / | ​ | ​ | ​
​ |  | Welding |  | Welding |  | Group |  | Eliminations |  | Consolidated
Three Months Ended March 31, 2023 |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |
Net sales | ​ | $ | 658,645 | ​ | $ | 252,416 | ​ | $ | 128,282 | ​ | $ | — | ​ | $ | 1,039,343
Inter-segment sales | ​ |  | 32,318 | ​ | ​ | 6,753 | ​ | ​ | 2,897 | ​ | ​ | (41,968) | ​ | ​ | —
Total | ​ | $ | 690,963 | ​ | $ | 259,169 | ​ | $ | 131,179 | ​ | $ | (41,968) | ​ | $ | 1,039,343
Adjusted EBIT | ​ | $ | 132,453 | ​ | $ | 29,598 | ​ | $ | 18,983 | ​ | $ | (9,374) | ​ | $ | 171,660
Special items charge (gain) (1) | ​ |  | 2,785 | ​ | ​ | 302 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 3,087
EBIT | ​ | $ | 129,668 | ​ | $ | 29,296 | ​ | $ | 18,983 | ​ | $ | (9,374) | ​ | $ | 168,573
Interest income | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | 854
Interest expense | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | (14,055)
Income before income taxes | ​ | ​ | ​ | ​ |  | ​ | ​ |  | ​ | ​ |  | ​ | ​ | $ | 155,372
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
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) (2) | ​ |  | (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
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​
| (1) | In the three months ended March 31, 2023, special items include amortization of step up in value of acquired inventories of $2,785 and $1,071 in Americas and International Welding, respectively, Rationalization and asset impairment net charges of $877 in International Welding and a gain on disposal of $1,646 in International Welding.
| (2) | In the three months ended March 31, 2022, special items reflect Rationalization charges of $1,885 in International Welding and the final settl ement related to the termination of a pension plan of $3,735 in Americas Welding.

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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 https://asc.fasb.org/extlink&oid=126901519&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 https://asc.fasb.org/extlink&oid=126901519&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 https://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 https://asc.fasb.org/extlink&oid=126901519&loc=d3e8906-108599 + Details
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