XML 23 R5.htm IDEA: XBRL DOCUMENT v3.22.2.2
CONSOLIDATED AND COMBINED CONDENSED BALANCE SHEETS - USD ($)
$ in Thousands
Sep. 30, 2022
Dec. 31, 2021
CURRENT ASSETS:    
Cash and cash equivalents $ 60,634 $ 41,209
Trade receivables, less allowance for credit losses 359,956 383,496
Inventories, net 446,531 420,062
Prepaid expenses 53,174 51,949
Other current assets 67,701 67,357
Total current assets 987,996 964,073
Property, plant and equipment, net 265,185 286,278
Goodwill 1,399,661 1,532,993
Intangible assets, net 452,329 521,434
Lease assets—right of use 89,551 107,944
Other assets 345,181 48,540
Related party receivables, net   101,600
Total assets 3,539,903 3,461,262
CURRENT LIABILITIES:    
Accounts payable 320,179 345,480
Current lease liability 20,323 23,110
Accrued liabilities 290,403 251,109
Total current liabilities 610,582 596,589
Noncurrent Liabilities:    
Long-term debt 1,132,415 0
Other liabilities 549,381 362,945
Total liabilities 2,292,378 959,534
Equity:    
Common stock—$0.001 par value—Authorized 600,000,000, 60,076,559 and 100 shares outstanding as of September 30, 2022 and December 31, 2021, respectively 60 0
Additional paid-in capital 1,857,918 0
Retained earnings 101,549 0
Former Parent's investment 0 2,921,623
Accumulated other comprehensive loss (750,342) (460,888)
Total ESAB Corporation equity 1,209,185 2,460,735
Noncontrolling interest 38,340 40,993
Total equity 1,247,525 2,501,728
Total liabilities and equity $ 3,539,903 3,461,262
ESAB Corporation    
CURRENT ASSETS:    
Cash and cash equivalents   325
Trade receivables, less allowance for credit losses   14,880
Inventories, net   18,397
Prepaid expenses   1,722
Other current assets   1,703
Total current assets   37,027
Property, plant and equipment, net   7,369
Goodwill   75,503
Intangible assets, net   19,323
Lease assets—right of use   7,421
Other assets   795
Related party receivables, net   101,590
Total assets   249,028
CURRENT LIABILITIES:    
Accounts payable   15,685
Accrued payroll   3,009
Accrued taxes   2,019
VAT payable   4,004
Current lease liability   826
Other accrued liabilities   1,113
Total current liabilities   26,656
Noncurrent Liabilities:    
Deferred tax liability   5,363
Other liabilities   2,993
Non-current lease liability   6,351
Total liabilities   41,363
Equity:    
Additional paid-in capital   202,515
Retained earnings   88,899
Accumulated other comprehensive loss   (83,749)
Total equity   207,665
Total liabilities and equity   $ 249,028