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GOODWILL AND INTANGIBLES (Tables) | 12 Months Ended
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Dec. 31, 2024
GOODWILL AND INTANGIBLES |
Changes in the carrying amount of goodwill by reportable segment | The changes in the carrying amount of goodwill by reportable segments for the years ended December 31, 2024 and 2023 were as follows: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ |  | ​ | ​ |  | The Harris |  | ​ | ​
​ | Americas | ​ | International | ​ | Products | ​ | ​ | ​
​ | Welding |  | Welding |  | Group |  | Consolidated
Balance as of December 31, 2022 | $ | 492,187 | ​ | $ | 129,919 | ​ | $ | 43,151 | ​ | $ | 665,257
Additions and adjustments (1) |  | (2,899) | ​ | ​ | 23,111 | ​ | ​ | — | ​ |  | 20,212
Foreign currency translation |  | 8,312 | ​ | ​ | 449 | ​ | ​ | 222 | ​ |  | 8,983
Balance as of December 31, 2023 |  | 497,600 | ​ |  | 153,479 | ​ |  | 43,373 | ​ |  | 694,452
Additions and adjustments (2) |  | 101,657 | ​ | ​ | 33,427 | ​ | ​ | — | ​ |  | 135,084
Foreign currency translation |  | (13,443) | ​ | ​ | (10,644) | ​ | ​ | (522) | ​ |  | (24,609)
Balance as of December 31, 2024 | $ | 585,814 | ​ | $ | 176,262 | ​ | $ | 42,851 | ​ | $ | 804,927
​
(1) | Adjustments to Americas Welding reflect goodwill recognized in the acquisition of Powermig offset by Fori purchase accounting adjustments in 2023. Additions to International Welding reflect Fori purchase accounting adjustments in 2023.
(2) | Additions to Americas Welding reflect goodwill recognized in the acquisitions of Vanair and RedViking. Additions to International Welding reflect goodwill recognized in the acquisition of Inrotech.
Schedule of gross and net indefinite-lived intangible assets other than goodwill by asset class | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | December 31, 2024 | ​ | December 31, 2023
​ | ​ | Gross |  | Accumulated |  | Gross |  | Accumulated
​ |  | Amount |  | Amortization |  | Amount |  | Amortization
Intangible assets not subject to amortization | ​ | ​ |  |  | ​ |  |  | ​ |  |  | ​ |
Trademarks and trade names | ​ | $ | 16,208 |  | ​ |  | ​ | $ | 16,038 |  | ​ |
Intangible assets subject to amortization | ​ |  |  |  | ​ |  | ​ |  |  |  | ​ |
Trademarks and trade names | ​ | $ | 106,512 | ​ | $ | 55,078 | ​ | $ | 93,065 | ​ | $ | 52,510
Customer relationships | ​ |  | 192,196 | ​ |  | 106,719 | ​ |  | 171,338 | ​ |  | 102,643
Technology and know-how | ​ | ​ | 82,019 | ​ | ​ | 29,478 | ​ | ​ | 68,365 | ​ | ​ | 24,602
Patents | ​ |  | 23,901 | ​ |  | 16,008 | ​ |  | 25,150 | ​ |  | 15,879
Other | ​ |  | 42,315 | ​ |  | 34,863 | ​ |  | 43,451 | ​ |  | 35,106
Total intangible assets subject to amortization | ​ | $ | 446,943 | ​ | $ | 242,146 | ​ | $ | 401,369 | ​ | $ | 230,740
Schedule of gross and net finite-lived intangible assets other than goodwill by asset class | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | December 31, 2024 | ​ | December 31, 2023
​ | ​ | Gross |  | Accumulated |  | Gross |  | Accumulated
​ |  | Amount |  | Amortization |  | Amount |  | Amortization
Intangible assets not subject to amortization | ​ | ​ |  |  | ​ |  |  | ​ |  |  | ​ |
Trademarks and trade names | ​ | $ | 16,208 |  | ​ |  | ​ | $ | 16,038 |  | ​ |
Intangible assets subject to amortization | ​ |  |  |  | ​ |  | ​ |  |  |  | ​ |
Trademarks and trade names | ​ | $ | 106,512 | ​ | $ | 55,078 | ​ | $ | 93,065 | ​ | $ | 52,510
Customer relationships | ​ |  | 192,196 | ​ |  | 106,719 | ​ |  | 171,338 | ​ |  | 102,643
Technology and know-how | ​ | ​ | 82,019 | ​ | ​ | 29,478 | ​ | ​ | 68,365 | ​ | ​ | 24,602
Patents | ​ |  | 23,901 | ​ |  | 16,008 | ​ |  | 25,150 | ​ |  | 15,879
Other | ​ |  | 42,315 | ​ |  | 34,863 | ​ |  | 43,451 | ​ |  | 35,106
Total intangible assets subject to amortization | ​ | $ | 446,943 | ​ | $ | 242,146 | ​ | $ | 401,369 | ​ | $ | 230,740
Schedule of Acquired Finite-Lived Intangible Assets by Major Class | ​
​ | ​ | ​ | ​ | ​
​ | Year Ended December 31, 2024
​ | Purchase Price | ​ | Weighted
​ | Allocation |  | Average Life
Acquired intangible assets subject to amortization |  |  |  |
Trademarks and trade names | $ | 17,977 |  | 15
Customer relationships |  | 32,203 |  | 14
Technology and know-how |  | 17,222 |  | 10
Other |  | 2,075 |  | 5
Total acquired intangible assets subject to amortization | $ | 69,477 |  |

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