XML 43 R26.htm IDEA: XBRL DOCUMENT
v3.24.1.u1

SEGMENT INFORMATION (Tables) | 3 Months Ended
--- | ---
Mar. 31, 2024
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, 2024 |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |
Net sales | ​ | $ | 624,099 | ​ | $ | 235,761 | ​ | $ | 121,337 | ​ | $ | — | ​ | $ | 981,197
Inter-segment sales | ​ |  | 29,978 | ​ | ​ | 8,408 | ​ | ​ | 3,093 | ​ | ​ | (41,479) | ​ | ​ | —
Total | ​ | $ | 654,077 | ​ | $ | 244,169 | ​ | $ | 124,430 | ​ | $ | (41,479) | ​ | $ | 981,197
Adjusted EBIT | ​ | $ | 136,100 | ​ | $ | 27,776 | ​ | $ | 19,878 | ​ | $ | (10,078) | ​ | $ | 173,676
Special items charge (1) | ​ |  | — | ​ | ​ | 3,069 | ​ | ​ | 1,536 | ​ | ​ | 1,762 | ​ | ​ | 6,367
EBIT | ​ | $ | 136,100 | ​ | $ | 24,707 | ​ | $ | 18,342 | ​ | $ | (11,840) | ​ | $ | 167,309
Interest income | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | 3,221
Interest expense | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | (12,000)
Income before income taxes | ​ | ​ | ​ | ​ |  | ​ | ​ |  | ​ | ​ |  | ​ | ​ | $ | 158,530
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
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 | ​ | $ | (9,402) | ​ | $ | 171,632
Special items charge (2) | ​ |  | 2,785 | ​ |  | 302 | ​ |  | — | ​ |  | — | ​ | ​ | 3,087
EBIT | ​ | $ | 129,668 | ​ | $ | 29,296 | ​ | $ | 18,983 | ​ | $ | (9,402) | ​ | $ | 168,545
Interest income | ​ | ​ | ​ | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  | 854
Interest expense | ​ | ​ | ​ | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  | (14,055)
Income before income taxes | ​ | ​ | ​ | ​ |  |  | ​ |  |  | ​ |  |  | ​ | $ | 155,344
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​
| (1) | In the three months ended March 31, 2024, special items include Rationalization and asset impairment charges of $3,069 and $1,536 in International Welding and The Harris Products Group, respectively, as discussed in Note 6 and Acquisition transaction costs of $1,762 in Corporate/Eliminations.
| (2) | 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.

X
- 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 -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 1 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482573/350-20-50-1 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-25 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-22 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-30 + Details
Name: | us-gaap_ScheduleOfSegmentReportingInformationBySegmentTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_SegmentReportingAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration