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Fair Value Measurements (Tables) | 7 Months Ended | 9 Months Ended
--- | --- | ---
Dec. 31, 2021 | Sep. 30, 2022
Fair Value Disclosures [Abstract] |  |
Schedule of Assets and Liabilities Measured at Fair Value | A summary of the Company’s assets and liabilities that are measured at fair value on a recurring basis for each fair value hierarchy level for the periods presented is as follows:
|  | December 31, 2021 |
|  | Level One |  |  | Level Two |  |  | Level Three |  |  | Total |
|  |  |  |  | (In thousands) |  |  |  |
Assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Foreign currency contracts - not designated as hedges (1) |  | $ | — |  |  | $ | 509 |  |  | $ | — |  |  | $ | 509 |
Liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Foreign currency contracts - not designated as hedges (2) |  | $ | — |  |  | $ | 30 |  |  | $ | — |  |  | $ | 30 |
(1) | Included within other current assets in the Consolidated Balance Sheet.
(2) | Included within other accrued liabilities in the Consolidated Balance Sheet.
| A summary of the Company’s assets and liabilities that are measured at fair value for each fair value hierarchy level for the periods presented is as follows:
|  | September 30, 2022 |
|  | Level One |  |  | Level Two |  |  | Level Three |  |  | Total |
|  |  |  |  | (In thousands) |  |  |  |
Assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash equivalents |  | $ | 6,633 |  |  | $ | — |  |  | $ | — |  |  | $ | 6,633 |
Foreign currency contracts—not designated as hedges (1) |  |  | — |  |  |  | 2,432 |  |  |  | — |  |  |  | 2,432 |
Cross currency swap agreements |  |  | — |  |  |  | 9,578 |  |  |  | — |  |  |  | 9,578 |
Interest rate swap agreements |  |  | — |  |  |  | 12,855 |  |  |  | — |  |  |  | 12,855 |
Deferred compensation plans |  |  | — |  |  |  | 2,189 |  |  |  | — |  |  |  | 2,189 |
|  | $ | 6,633 |  |  | $ | 27,054 |  |  | $ | — |  |  | $ | 33,687 |
Liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Foreign currency contracts—not designated as hedges (2) |  | $ | — |  |  | $ | 2,153 |  |  | $ | — |  |  | $ | 2,153 |
Deferred compensation plans |  |  | — |  |  |  | 2,189 |  |  |  | — |  |  |  | 2,189 |
|  | $ | — |  |  | $ | 4,342 |  |  | $ | — |  |  | $ | 4,342 |
(1) | Included within Other Current Assets in the Consolidated Balance Sheet.
(2) | Included within Accrued Liabilities in the Consolidated Balance Sheet.
|  | December 31, 2021 |
|  | Level One |  |  | Level Two |  |  | Level Three |  |  | Total |
|  |  |  |  | (In thousands) |  |  |  |
Assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash equivalents |  | $ | 8,133 |  |  | $ | — |  |  | $ | — |  |  | $ | 8,133 |
Foreign currency contracts—not designated as hedges (1) |  |  | — |  |  |  | 2,487 |  |  |  | — |  |  |  | 2,487 |
|  | $ | 8,133 |  |  | $ | 2,487 |  |  | $ | — |  |  | $ | 10,620 |
Liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Foreign currency contracts—not designated as hedges (2) |  | $ | — |  |  | $ | 2,309 |  |  | $ | — |  |  | $ | 2,309 |
(1) | Included within Other Current Assets in the Consolidated and Combined Condensed Balance Sheet.
(2) | Included within Accrued Liabilities in the Consolidated and Combined Condensed Balance Sheet.
Schedule of Realized Gain (Loss) related to Derivative Instruments | The Company recognized the following in its Consolidated Financial Statements related to its derivative instruments:
|  | For the period from inception (May 19, 2021) to December 31, 2021 |
|  | (In thousands) |
Contracts Not Designated in a Hedge Relationship: |  |  |  |
Foreign Currency Contracts |  |  |  |
Changes in unrealized gain |  | $ | 478 |
Realized loss |  | $ | (2,624 | )
| The Company recognized the following in its Consolidated and Combined Condensed Financial Statements related to its derivative instruments not designated in a hedging relationship:
|  | Three Months Ended |  |  | Nine Months Ended |
Foreign currency contracts |  | September 30, 2022 |  |  | October 1, 2021 |  |  | September 30, 2022 |  |  | October 1, 2021 |
|  | (In thousands) |
Change in unrealized gains (losses) |  | $ | 279 |  |  | $ | (2,374 | ) |  | $ | 469 |  |  | $ | (6,108 | )
Realized loss (1) |  |  | (740 | ) |  |  | (1,383 | ) |  |  | (17,235 | ) |  |  | (1,472 | )
(1) | The nine months ended September 30, 2022 includes realized losses relating to certain corporate entities contributed to ESAB Corporation which are reflected within Interest expense (income) and other, net, in the Consolidated and Combined Condensed Statements of Operations during the three months ended April 1, 2022. See Note 1, “Organization and Basis of Presentation” for additional details. These realized losses are offset by unrealized gains which are also reflected within Interest expense (income) and other, net, in the Consolidated and Combined Condensed Statements of Operations during the three months ended April 1, 2022.

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- Definition Tabular disclosure of the location and amount of derivative instruments and nonderivative instruments designated as hedging instruments reported before netting adjustments, and the amount of gain (loss) on derivative instruments and nonderivative instruments designated and qualified as hedging instruments. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4E -URI https://asc.fasb.org/extlink&oid=125515794&loc=SL5624181-113959 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4A -Subparagraph (b) -URI https://asc.fasb.org/extlink&oid=125515794&loc=SL5618551-113959 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4C -URI https://asc.fasb.org/extlink&oid=125515794&loc=SL5624171-113959 + Details
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- Definition Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (b) -URI https://asc.fasb.org/extlink&oid=126976982&loc=d3e19207-110258 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -URI https://asc.fasb.org/extlink&oid=126976982&loc=d3e19207-110258 + Details
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