| Schedule of Segment Reporting Information, by Segment [Table Text Block] |
The Company’s segment results were as follows: | | | | | | | | | | | | | | Year Ended December 31, | | 2015 | | 2014 | | 2013 | | (In thousands) | Net sales: | | | | Gas and fluid handling | $ | 1,981,816 |
| | $ | 2,329,598 |
| | $ | 2,104,048 |
| Fabrication technology | 1,985,237 |
| | 2,294,878 |
| | 2,103,161 |
| Total Net sales | $ | 3,967,053 |
| | $ | 4,624,476 |
| | $ | 4,207,209 |
| | | | | | | Segment operating income (loss)(1): | | | | | | Gas and fluid handling | $ | 194,469 |
| | $ | 254,240 |
| | $ | 270,708 |
| Fabrication technology | 198,337 |
| | 265,813 |
| | 219,634 |
| Corporate and other | (46,984 | ) | | (52,379 | ) | | (48,448 | ) | Total segment operating income | $ | 345,822 |
| | $ | 467,674 |
| | $ | 441,894 |
| | | | | | | Depreciation, amortization and impairment charges: | | Gas and fluid handling | $ | 68,457 |
| | $ | 96,763 |
| | $ | 62,792 |
| Fabrication technology | 84,913 |
| | 76,406 |
| | 55,339 |
| Corporate and other | 1,172 |
| | 1,555 |
| | 1,127 |
| Total depreciation, amortization and impairment charges | $ | 154,542 |
| | $ | 174,724 |
| | $ | 119,258 |
| | | | | | | Capital expenditures: | | | | | | Gas and fluid handling | $ | 34,303 |
| | $ | 32,558 |
| | $ | 37,995 |
| Fabrication technology | 35,261 |
| | 47,955 |
| | 33,437 |
| Corporate and other | 313 |
| | 3,945 |
| | 50 |
| Total capital expenditures | $ | 69,877 |
| | $ | 84,458 |
| | $ | 71,482 |
| | | | | | |
(1) The following is a reconciliation of Income before income taxes to segment operating income: | | | | | | | | | | | | | | Year Ended December 31, | | 2015 | | 2014 | | 2013 | | | | | | | Income before income taxes | $ | 236,902 |
| | $ | 358,248 |
| | $ | 302,795 |
| Interest expense | 47,743 |
| | 51,305 |
| | 103,597 |
| Restructuring and other related charges | 61,177 |
| | 58,121 |
| | 35,502 |
| Segment operating income | $ | 345,822 |
| | $ | 467,674 |
| | $ | 441,894 |
|
| | | | | | | | | | December 31, | | 2015 | | 2014 | | (In thousands) | Investments in Equity Method Investees: | | | | Gas and fluid handling | $ | 3,805 |
| | $ | 7,085 |
| Fabrication technology | 42,106 |
| | 45,411 |
|
| $ | 45,911 |
| | $ | 52,496 |
| | | | | Total Assets(1): | | | | Gas and fluid handling | $ | 3,482,471 |
| | $ | 3,648,860 |
| Fabrication technology | 3,157,078 |
| | 3,470,426 |
| Corporate and other | 93,370 |
| | 92,231 |
| Total Assets | $ | 6,732,919 |
| | $ | 7,211,517 |
| | | | |
(1) During the year ended December 31, 2015 the Company retrospectively adjusted provisional amounts with respect to an acquisition completed during the three months ended June 27, 2014 to reflect new information obtained about facts and circumstances that existed as of the acquisition date that, if known, would have affected the measurement of the amounts recognized as of that date. See Note 4, “Acquisitions” for further discussion regarding these adjustments. The Company also retrospectively adjusted amounts recorded as of December 31, 2014 for the adoption of ASU 2015-03 and ASU 2015-17. See Note 3, “Recently Issued Accounting Pronouncements” for further discussion. |
| Revenue from External Customers by Products and Services [Table Text Block] |
| | | | | | | | | | | | | | Year Ended December 31, | | 2015 | | 2014 | | 2013 | | (In thousands) | Net Sales by Major Product: | | | | | | Gas handling | $ | 1,449,115 |
| | $ | 1,676,180 |
| | $ | 1,440,731 |
| Fluid handling | 532,701 |
| | 653,418 |
| | 663,317 |
| Welding and cutting | 1,985,237 |
| | 2,294,878 |
| | 2,103,161 |
| Total Net sales | $ | 3,967,053 |
| | $ | 4,624,476 |
| | $ | 4,207,209 |
|
|
| Schedule of Revenue from External Customers and Long-Lived Assets, by Geographical Areas [Table Text Block] |
| | | | | | | | | | | | | Net Sales by Origin(1): | | | | | | United States | $ | 1,124,883 |
| | $ | 1,097,864 |
| | $ | 836,636 |
| Foreign locations | 2,842,170 |
| | 3,526,612 |
| | 3,370,573 |
| Total Net sales | $ | 3,967,053 |
| | $ | 4,624,476 |
| | $ | 4,207,209 |
|
(1) The Company attributes revenues from external customers to individual countries based upon the country in which the sale was originated.
| | | | | | | | | | December 31, | | 2015 | | 2014(2) | | (In thousands) | Property, Plant and Equipment, Net(1): | | | | United States | $ | 179,194 |
| | $ | 177,957 |
| Czech Republic | 75,540 |
| | 79,430 |
| China | 63,784 |
| | 76,959 |
| Other Foreign Locations | 326,018 |
| | 393,089 |
| Property, plant and equipment, net | $ | 644,536 |
| | $ | 727,435 |
|
(1) As the Company does not allocate all long-lived assets, specifically intangible assets, to each individual country, evaluation of long-lived assets in total is impracticable. (2) During the year ended December 31, 2015 the Company retrospectively adjusted provisional amounts with respect to an acquisition completed during the three months ended June 27, 2014 to reflect new information obtained about facts and circumstances that existed as of the acquisition date that, if known, would have affected the measurement of the amounts recognized as of that date. See Note 4, “Acquisitions” for further discussion regarding these adjustments. |