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v3.25.1

SEGMENT INFORMATION (Tables) | 3 Months Ended
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Mar. 31, 2025
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, 2025 |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |
Net sales | ​ | $ | 653,107 | ​ | $ | 219,061 | ​ | $ | 132,220 | ​ | $ | — | ​ | $ | 1,004,388
Inter-segment sales | ​ |  | 30,372 | ​ | ​ | 6,832 | ​ | ​ | 3,984 | ​ | ​ | (41,188) | ​ | ​ | —
Total | ​ | ​ | 683,479 | ​ | ​ | 225,893 | ​ | ​ | 136,204 | ​ | ​ | (41,188) | ​ | ​ | 1,004,388
Cost of goods sold | ​ | ​ | 417,700 | ​ | ​ | 163,442 | ​ | ​ | 97,974 | ​ | ​ | (40,176) | ​ | ​ | 638,940
Gross profit | ​ | ​ | 265,779 | ​ | ​ | 62,451 | ​ | ​ | 38,230 | ​ | ​ | (1,012) | ​ | ​ | 365,448
Other segment expenses (3) | ​ | ​ | 143,716 | ​ | ​ | 40,851 | ​ | ​ | 14,079 | ​ | ​ | 1,440 | ​ | ​ | 200,086
EBIT | ​ | ​ | 122,063 | ​ | ​ | 21,600 | ​ | ​ | 24,151 | ​ | ​ | (2,452) | ​ | ​ | 165,362
Special items charge (1) | ​ | ​ | 2,135 | ​ | ​ | 1,412 | ​ | ​ | 178 | ​ | ​ | 802 | ​ | ​ | 4,527
Adjusted EBIT | ​ | $ | 124,198 | ​ | $ | 23,012 | ​ | $ | 24,329 | ​ | $ | (1,650) | ​ | $ | 169,889
Special items charge (1) | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | (4,527)
Interest income | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | 2,255
Interest expense | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | (14,382)
Income before income taxes | ​ | ​ | ​ | ​ |  | ​ | ​ |  | ​ | ​ |  | ​ | ​ | $ | 153,235
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Total assets | ​ | $ | 2,445,066 | ​ | $ | 1,093,775 | ​ | $ | 388,804 | ​ | $ | (302,571) | ​ | $ | 3,625,074
Capital expenditures | ​ | ​ | 21,766 | ​ | ​ | 3,608 | ​ | ​ | 1,575 | ​ | ​ | — | ​ | ​ | 26,949
Depreciation and amortization | ​ | ​ | 16,114 | ​ | ​ | 5,378 | ​ | ​ | 2,663 | ​ | ​ | (371) | ​ | ​ | 23,784
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
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
Cost of goods sold | ​ | ​ | 388,605 | ​ | ​ | 175,047 | ​ | ​ | 90,730 | ​ | ​ | (41,584) | ​ | ​ | 612,798
Gross profit | ​ | ​ | 265,472 | ​ | ​ | 69,122 | ​ | ​ | 33,700 | ​ | ​ | 105 | ​ | ​ | 368,399
Other segment expenses (3) | ​ | ​ | 129,372 | ​ | ​ | 44,415 | ​ | ​ | 15,358 | ​ | ​ | 11,945 | ​ | ​ | 201,090
EBIT | ​ | $ | 136,100 | ​ | $ | 24,707 | ​ | $ | 18,342 | ​ | $ | (11,840) | ​ | $ | 167,309
Special items charge (2) | ​ |  | — | ​ |  | 3,069 | ​ |  | 1,536 | ​ |  | 1,762 | ​ | ​ | 6,367
Adjusted EBIT | ​ | $ | 136,100 | ​ | $ | 27,776 | ​ | $ | 19,878 | ​ | $ | (10,078) | ​ | $ | 173,676
Special items charge (2) | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | (6,367)
Interest income | ​ | ​ | ​ | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  | 3,221
Interest expense | ​ | ​ | ​ | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  | (12,000)
Income before income taxes | ​ | ​ | ​ | ​ |  |  | ​ |  |  | ​ |  |  | ​ | $ | 158,530
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Total assets | ​ | $ | 2,354,812 | ​ | $ | 987,321 | ​ | $ | 353,485 | ​ | $ | (315,901) | ​ | $ | 3,379,717
Capital expenditures | ​ | ​ | 21,853 | ​ | ​ | 3,423 | ​ | ​ | 980 | ​ | ​ | — | ​ | ​ | 26,256
Depreciation and amortization | ​ | ​ | 14,086 | ​ | ​ | 5,313 | ​ | ​ | 2,426 | ​ | ​ | (239) | ​ | ​ | 21,586
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​
| (1) | In the three months ended March 31, 2025, special items primarily include Rationalization and asset impairment net charges of $2,135, $1,552 and $178 in Americas Welding, International Welding and The Harris Products Group, respectively, as discussed in Note 6 and Acquisition transaction costs of $802 in Corporate/Eliminations.
| (2) | In the three months ended March 31, 2024, special items include Rationalization and asset impairment net 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.
| (3) | Other segment expenses primarily include:
| a. | Selling, general & administrative expenses – including bonus and research and development expenses.
| b. | Rationalization and asset impairment net charges – refer to Note 6 for further discussion.

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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 -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 2: 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 3: 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
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