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SEGMENT INFORMATION (Tables)

3 Months Ended

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