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RATIONALIZATION AND ASSET IMPAIRMENTS
 12 Months Ended
Dec. 31, 2025
RATIONALIZATION AND ASSET IMPAIRMENTS  
RATIONALIZATION AND ASSET IMPAIRMENTS

NOTE 7 – RATIONALIZATION AND ASSET IMPAIRMENTS

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The Company has rationalization plans within all three of its reportable segments. The plans impacted headcount and included the consolidation of manufacturing facilities to better align with the cost structure, economic conditions and operating needs of the business.

The following table present Rationalization and asset impairment net charges/(gains) by segment:

​

​

​

​

​

​

​

​

​

​

​

December 31, 

​

2025

  ​ ​ ​

2024

  ​ ​ ​

2023

Americas Welding

$

9,838

​

$

18,840

​

$

468

International Welding (1)

 

7,293

​

 

32,960

​

 

(11,782)

The Harris Products Group

 

1,068

​

 

3,955

​

 

—

Total

$

18,199

​

$

55,755

​

$

(11,314)

(1)$22,566 of International Welding charges in 2024 relate to the Russian entity disposal.

At December 31, 2025 and 2024, rationalization liabilities of $7,085 and $14,146, respectively, were recognized in Other current liabilities in the Company's Consolidated Balance Sheet. The Company does not anticipate significant additional charges related to the completion of these plans.

The Company believes the rationalization actions will positively impact future results of operations and will not have a material effect on liquidity and sources and uses of capital. The Company continues to evaluate its cost structure and additional rationalization actions may result in charges in future periods.

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The following table summarizes the activity related to the rationalization liabilities:

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

  ​ ​ ​

Americas

  ​ ​ ​

International

​

The Harris

  ​ ​ ​

​

​

​

Welding

  ​ ​ ​

Welding

​

Products Group

  ​ ​ ​

Consolidated

Balance at December 31, 2023

​

$

—

​

$

15,086

​

$

—

​

$

15,086

Payments and other adjustments

​

 

(11,957)

​

 

(21,893)

​

 

(2,063)

​

 

(35,913)

Charged to expense

​

 

17,585

​

 

14,369

​

 

3,019

​

 

34,973

Balance at December 31, 2024

​

$

5,628

​

$

7,562

​

$

956

​

$

14,146

Payments and other adjustments

​

 

(14,522)

​

 

(8,057)

​

 

(1,540)

​

 

(24,119)

Charged to expense

​

 

9,838

​

 

6,208

​

 

1,012

​

 

17,058

Balance at December 31, 2025

​

$

944

​

$

5,713

​

$

428

​

$

7,085

​