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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.