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SEGMENT INFORMATION (Tables)

6 Months Ended

Jun. 30, 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 June 30, 2025
Net sales		$	696,730		$	232,824		$	159,119		$	—		$	1,088,673
Inter-segment sales			43,391			7,641			5,110			(56,142)			—
Total			740,121			240,465			164,229			(56,142)			1,088,673
Cost of goods sold			449,197			170,287			117,975			(54,333)			683,126
Other segment expenses⁽³⁾			153,914			41,179			14,456			(180)			209,369
EBIT			137,010			28,999			31,798			(1,629)			196,178
Special items charge ⁽¹⁾			905			1,551			86			429			2,971
Adjusted EBIT		$	137,915		$	30,550		$	31,884		$	(1,200)		$	199,149
Special items charge ⁽¹⁾															(2,971)
Interest income															1,662
Interest expense															(14,281)
Income before income taxes														$	183,559

Total assets		$	2,469,216		$	1,159,578		$	422,559		$	(323,984)		$	3,727,369
Capital expenditures			19,972			4,609			862			—			25,443
Depreciation and amortization			17,139			5,485			2,598			(760)			24,462

Three Months Ended June 30, 2024
Net sales		$	648,936		$	238,758		$	133,989		$	—		$	1,021,683
Inter-segment sales			37,800			8,849			3,272			(49,921)			—
Total			686,736			247,607			137,261			(49,921)			1,021,683
Cost of goods sold			410,892			177,897			97,113			(48,032)			637,870
Other segment expenses⁽³⁾			139,547			75,235			15,085			6,661			236,528
EBIT			136,297			(5,525)			25,063			(8,550)			147,285
Special items charge ⁽²⁾			354			31,234			(140)			2,286			33,734
Adjusted EBIT		$	136,651		$	25,709		$	24,923		$	(6,264)		$	181,019
Special items charge ⁽²⁾															(33,734)
Interest income															1,972
Interest expense															(12,633)
Income before income taxes														$	136,624

Total assets		$	2,338,883		$	1,035,871		$	363,787		$	(323,292)		$	3,415,249
Capital expenditures			18,276			3,869			994			—			23,139
Depreciation and amortization			13,258			5,197			2,565			(155)			20,865

(1)

In the three months ended June 30, 2025, special items primarily include Rationalization and asset impairment net charges of $905, $1,551 and $86 in Americas Welding, International Welding and The Harris Products Group, respectively, as discussed in Note 6 and Acquisition transaction costs of $429 in Corporate/Eliminations.

(2)

In the three months ended June 30, 2024, special items include Rationalization and asset impairment net charges of $26,284 in International Welding, primarily due to the impact of the Company’s disposition of its Russian entity, as discussed in Note 6, a loss on asset disposal of $4,950 recorded to Other income (expense) in International Welding and acquisition transaction costs of $2,182 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.


								The Harris
		Americas			International			Products			Corporate /
		Welding			Welding			Group			Eliminations			Consolidated
Six Months Ended June 30, 2025
Net sales		$	1,349,837		$	451,885		$	291,339		$	—		$	2,093,061
Inter-segment sales			73,763			14,473			9,094			(97,330)			—
Total			1,423,600			466,358			300,433			(97,330)			2,093,061
Cost of goods sold			866,897			333,729			215,948			(94,508)			1,322,066
Other segment expenses⁽³⁾			297,630			82,030			28,536			1,259			409,455
EBIT			259,073			50,599			55,949			(4,081)			361,540
Special items charge ⁽¹⁾			3,040			2,963			264			1,231			7,498
Adjusted EBIT		$	262,113		$	53,562		$	56,213		$	(2,850)		$	369,038
Special items charge ⁽¹⁾															(7,498)
Interest income															3,917
Interest expense															(28,663)
Income before income taxes														$	336,794

Total assets		$	2,469,216		$	1,159,578		$	422,559		$	(323,984)		$	3,727,369
Capital expenditures			41,738			8,216			2,438			—			52,392
Depreciation and amortization			33,253			10,863			5,261			(1,131)			48,246

Six Months Ended June 30, 2024
Net sales		$	1,273,035		$	474,519		$	255,326		$	—		$	2,002,880
Inter-segment sales			67,778			17,257			6,365			(91,400)			—
Total			1,340,813			491,776			261,691			(91,400)			2,002,880
Cost of goods sold			799,497			352,945			187,843			(89,617)			1,250,668
Other segment expenses⁽³⁾			268,920			119,649			30,442			18,607			437,618
EBIT			272,396			19,182			43,406			(20,390)			314,594
Special items charge ⁽²⁾			354			34,304			1,396			4,047			40,101
Adjusted EBIT		$	272,750		$	53,486		$	44,802		$	(16,343)		$	354,695
Special items charge ⁽²⁾															(40,101)
Interest income															5,193
Interest expense															(24,633)
Income before income taxes														$	295,154

Total assets		$	2,338,883		$	1,035,871		$	363,787		$	(323,292)		$	3,415,249
Capital expenditures			40,130			7,292			1,973			—			49,395
Depreciation and amortization			27,344			10,510			4,991			(394)			42,451

(1)

In the six months ended June 30, 2025, special items primarily include Rationalization and asset impairment net charges of $3,040, $3,103 and $264 in Americas Welding, International Welding and The Harris Products Group, respectively, as discussed in Note 6 and Acquisition transaction costs of $1,231 in Corporate/Eliminations.

(2)

In the six months ended June 30, 2024, special items include Rationalization and asset impairment net charges of $29,354 in International Welding, primarily due to the impact of the Company’s disposition of its Russian entity, and $1,396 in The Harris Products Group, as discussed in Note 6, a loss on asset disposal of $4,950 recorded to Other income (expense) in International Welding and acquisition transaction costs of $3,944 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.