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SEGMENT INFORMATION (Tables) | 3 Months Ended
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Mar. 31, 2026
SEGMENT INFORMATION |
Schedule of financial information for the reportable segments | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | The Harris | ​ | ​ | ​
​ | ​ | Americas | ​ | International | ​ | Products | ​ | ​ | ​
​ | ​ ​ ​ | Welding | ​ ​ ​ | Welding | ​ ​ ​ | Group | ​ ​ ​ | Total
Three Months Ended March 31, 2026 | ​ |  | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ |  | ​
Net sales | ​ | $ | 706,225 | ​ | $ | 227,035 | ​ | $ | 188,174 | ​ | $ | 1,121,434
Inter-segment sales | ​ |  | 36,709 | ​ |  | 5,807 | ​ |  | 4,664 | ​ | ​ | 47,180
​ | ​ | ​ | 742,934 | ​ | ​ | 232,842 | ​ | ​ | 192,838 | ​ | ​ | 1,168,614
Reconciliation to Consolidated Net sales | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Elimination of inter-segment sales | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | (47,180)
Net sales | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | $ | 1,121,434
Cost of goods sold | ​ | ​ | 464,890 | ​ | ​ | 167,084 | ​ | ​ | 137,600 | ​ | ​ | ​
Other segment expenses (1) (3) | ​ | ​ | 151,149 | ​ | ​ | 44,868 | ​ | ​ | 14,247 | ​ | ​ | ​
Addback: Special items (charges) gain (1) | ​ |  | (573) | ​ |  | (1,772) | ​ |  | 182 | ​ | ​ | ​
Segment Adjusted EBIT | ​ | $ | 127,468 | ​ | $ | 22,662 | ​ | $ | 40,809 | ​ | $ | 190,939
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Other Segment Information | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Capital expenditures | ​ | $ | (26,983) | ​ | $ | (9,315) | ​ | $ | (2,865) | ​ | $ | (39,163)
Depreciation and amortization | ​ | ​ | 17,774 | ​ | ​ | 6,682 | ​ | ​ | 2,649 | ​ | ​ | 27,105
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
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
​ | ​ | ​ | 683,479 | ​ | ​ | 225,893 | ​ | ​ | 136,204 | ​ | ​ | 1,045,576
Reconciliation to Consolidated Net sales | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Elimination of inter-segment sales | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | (41,188)
Net sales | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | $ | 1,004,388
Cost of goods sold | ​ | ​ | 417,700 | ​ | ​ | 163,442 | ​ | ​ | 97,974 | ​ | ​ | ​
Other segment expenses (2) (3) | ​ | ​ | 143,716 | ​ | ​ | 40,851 | ​ | ​ | 14,079 | ​ | ​ | ​
Addback: Special items charge (2) | ​ |  | (2,135) | ​ |  | (1,412) | ​ |  | (178) | ​ | ​ | ​
Segment Adjusted EBIT | ​ | $ | 124,198 | ​ | $ | 23,012 | ​ | $ | 24,329 | ​ | $ | 171,539
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Other Segment Information | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Capital expenditures | ​ | $ | (21,766) | ​ | $ | (3,608) | ​ | $ | (1,575) | ​ | $ | (26,949)
Depreciation and amortization | ​ | ​ | 16,114 | ​ | ​ | 5,378 | ​ | ​ | 2,663 | ​ | ​ | 24,155
​
| (1) | In the three months ended March 31, 2026, special items within Other Segment expenses primarily include Rationalization and asset impairment net charges of $573 in Americas Welding, $1,772 in International Welding, and a net gain of $182 in The Harris Products Group, as discussed in Note 6.
| (2) | In the three months ended March 31, 2025, special items within Other Segment expenses 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.
| (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.
​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Three Months Ended March 31,
​ | ​ | ​ | 2026 | ​ | ​ | 2025
Reconciliation of Segment Adjusted EBIT to Consolidated Income before income taxes | ​ | ​ | ​ | ​ | ​ | ​
Segment Adjusted EBIT | ​ | $ | 190,939 | ​ | $ | 171,539
Addback: Segment special items charge | ​ | ​ | (2,163) | ​ | ​ | (3,725)
Corporate special items charge (1) | ​ | ​ | (653) | ​ | ​ | (802)
Elimination of inter-segment loss (profit) | ​ | ​ | 92 | ​ | ​ | (1,012)
Unallocated corporate expenses, net | ​ | ​ | (1,487) | ​ | ​ | (638)
Interest income | ​ |  | 1,385 | ​ |  | 2,255
Interest expense | ​ |  | (14,759) | ​ |  | (14,382)
Consolidated Income before income taxes | ​ | $ | 173,354 | ​ | $ | 153,235
​ | ​ | ​ | ​ | ​ | ​ | ​
Reconciliation of Other Segment Information to Consolidated Information | ​ | ​ | ​ | ​ | ​ | ​
Capital expenditures | ​ | ​ | ​ | ​ | ​ | ​
Segment totals | ​ | $ | (39,163) | ​ | $ | (26,949)
Adjustments | ​ | ​ | — | ​ | ​ | —
Consolidated totals | ​ | $ | (39,163) | ​ | $ | (26,949)
​ | ​ | ​ | ​ | ​ | ​ | ​
Depreciation and amortization | ​ | ​ | ​ | ​ | ​ | ​
Segment totals | ​ | $ | 27,105 | ​ | $ | 24,155
Adjustments | ​ | ​ | (1,096) | ​ | ​ | (371)
Consolidated totals | ​ | $ | 26,009 | ​ | $ | 23,784
​ | ​ | ​ | ​ | ​ | ​ | ​
(1) Corporate special items primarily include transaction costs. | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | March 31, 2026 | ​ | December 31, 2025
Reconciliation of Segment Assets to Consolidated Assets | ​ | ​ | ​ | ​ | ​ | ​
Americas Welding | ​ | $ | 2,524,416 | ​ | $ | 2,464,376
International Welding | ​ | ​ | 1,233,435 | ​ | ​ | 1,244,117
The Harris Products Group | ​ | ​ | 494,690 | ​ | ​ | 431,259
Total Segment Assets | ​ | ​ | 4,252,541 | ​ | ​ | 4,139,752
Corporate Assets | ​ | ​ | 36,588 | ​ | ​ | 41,033
LIFO reserve not allocated to segments | ​ | ​ | (139,427) | ​ | ​ | (138,589)
Eliminations | ​ | ​ | (249,307) | ​ | ​ | (264,619)
Total Consolidated Assets | ​ | $ | 3,900,395 | ​ | $ | 3,777,577

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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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