XML 40 R30.htm IDEA: XBRL DOCUMENT
v3.23.3

Earnings per Share from Continuing Operations (Tables) | 9 Months Ended
--- | ---
Sep. 29, 2023
Earnings Per Share [Abstract] |
Schedule of Earnings Per Share from Continuing Operations | The Company allocates earnings to participating securities and computed earnings per share using the two-class method as follows:
| Three Months Ended |  | Nine Months Ended
| September 29, 2023 |  | September 30, 2022 |  | September 29, 2023 |  | September 30, 2022
| (In thousands, except share and per share data)
Computation of earnings per share from continuing operations – basic: |  |  |  |  |  |  |
Income from continuing operations attributable to ESAB Corporation(1) | $ | 59,293 |  |  | $ | 53,331 |  |  | $ | 159,305 |  |  | $ | 167,938 |
Less: distributed and undistributed earnings allocated to nonvested shares | (425) |  |  | (407) |  |  | (1,162) |  |  | (1,152) |
Income from continuing operations attributable to common stockholders | $ | 58,868 |  |  | $ | 52,924 |  |  | $ | 158,143 |  |  | $ | 166,786 |
Weighted-average shares of Common stock outstanding – basic(3) | 60,265,516 |  |  | 60,063,553 |  |  | 60,216,606 |  |  | 60,045,306 |
Income per share from continuing operations – basic | $ | 0.98 |  |  | $ | 0.88 |  |  | $ | 2.63 |  |  | $ | 2.78 |
Computation of earnings per share from continuing operations – diluted: |  |  |  |  |  |  |
Income from continuing operations attributable to common stockholders | $ | 58,868 |  |  | $ | 52,924 |  |  | $ | 158,143 |  |  | $ | 166,786 |
Weighted-average shares of Common stock outstanding – basic(3) | 60,265,516 |  |  | 60,063,553 |  |  | 60,216,606 |  |  | 60,045,306 |
Net effect of potentially dilutive securities(2) | 465,197 |  |  | 99,668 |  |  | 376,153 |  |  | 82,378 |
Weighted-average shares of Common stock outstanding – dilution | 60,730,713 |  |  | 60,163,221 |  |  | 60,592,759 |  |  | 60,127,684 |
Net income per share from continuing operations – diluted | $ | 0.97 |  |  | $ | 0.88 |  |  | $ | 2.61 |  |  | $ | 2.77 |
(1) Net income from continuing operations attributable to ESAB Corporation for the respective periods is calculated using Net income from continuing operations, less Income attributable to noncontrolling interest, net of taxes, of $1.5 million and $4.5 million for the three and nine months ended September 29, 2023, respectively, and $1.0 million and $2.7 million for the three and nine months ended September 30, 2022, respectively. (2) Potentially dilutive securities include stock options, performance-based restricted stock units, and non-performance-based restricted stock units. (3) Prior to the Separation, the Company did not have any publicly-traded common stock or equivalents issued and outstanding. Accordingly, the net income per share for the three months ended April 1, 2022 is calculated based on the 60.0 million shares distributed on the Separation Date.

X
- References No definition available. + Details
Name: | us-gaap_EarningsPerShareAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of an entity's basic and diluted earnings per share calculations, including a reconciliation of numerators and denominators of the basic and diluted per-share computations for income from continuing operations. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 260 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482662/260-10-50-1 + Details
Name: | us-gaap_ScheduleOfEarningsPerShareBasicAndDilutedTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration