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RATIONALIZATION AND ASSET IMPAIRMENTS

3 Months Ended

Mar. 31, 2026

RATIONALIZATION AND ASSET IMPAIRMENTS

NOTE 6 — RATIONALIZATION AND ASSET IMPAIRMENTS

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 presents Rationalization and asset impairment net charges by segment:


		Three Months Ended March 31,
		2026		2025
Americas Welding		$	573	$	2,135
International Welding			1,772		1,552
The Harris Products Group			(182)		178
Total		$	2,163	$	3,865

At March 31, 2026 and December 31, 2025, rationalization liabilities of $4,140 and $7,085, respectively, were recognized in Other current liabilities in the Company’s Condensed 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.

The following table summarizes the activity related to rationalization liabilities for the three months ended March 31, 2026:


		Americas		International			The Harris Products
		Welding		Welding			Group			Consolidated
Balance at December 31, 2025		$	944	$	5,713		$	428		$	7,085
Payments and other adjustments			(1,030)		(4,048)			(30)			(5,108)
Charged to expense			573		1,772			(182)			2,163
Balance at March 31, 2026		$	487	$	3,437		$	216		$	4,140