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Segment Information
 9 Months Ended
Oct. 01, 2021
Segment Reporting [Abstract]  
Segment Information Segment Information
The Company conducts its continuing operations through the Fabrication Technology and Medical Technology operating segments, which also represent the Company’s reportable segments.

▪Fabrication Technology - a leading global supplier of consumable products and equipment for use in cutting, joining and automated welding, as well as gas control equipment, providing a wide range of products with innovative technologies to solve challenges in a wide range of industries.

•Medical Technology - a leader in orthopedic solutions, providing devices, software and services spanning the full continuum of patient care, from injury prevention to joint replacement to rehabilitation.
Certain amounts not allocated to the two reportable segments and intersegment eliminations are reported under the heading “Corporate and other.” The Company’s management evaluates the operating results of each of its reportable segments based upon Net sales and segment operating income (loss), which represents Operating income (loss) before Restructuring and other related charges and European Union Medical Devices Regulation (“MDR”) and other costs.

The Company’s segment results were as follows:
Three Months EndedNine Months Ended
October 1, 2021October 2, 2020October 1, 2021October 2, 2020
(In thousands)
Net sales:
     Fabrication Technology$605,968 $491,497 $1,803,900 $1,431,401 
Medical Technology359,923 314,434 1,027,130 811,246 
$965,891 $805,931 $2,831,030 $2,242,647 
Segment operating income (loss)(1):
     Fabrication Technology$90,604 $63,058 $267,306 $175,703 
Medical Technology10,845 22,869 31,254 5,877 
     Corporate and other(29,100)(15,079)(75,765)(44,730)
$72,349 $70,848 $222,795 $136,850 
(1) Following is a reconciliation of Income (loss) from continuing operations before income taxes to segment operating income:
Three Months EndedNine Months Ended
October 1, 2021October 2, 2020October 1, 2021October 2, 2020
(In thousands)
Income from continuing operations before income taxes$50,450 $36,364 $125,571 $25,200 
Pension settlement gain— — (11,208)— 
Interest expense, net13,540 25,567 57,005 78,647 
Debt extinguishment charges— — 29,870 — 
Restructuring and other related charges(1)
6,457 6,328 15,983 28,514 
MDR and other costs(2)
1,902 2,589 5,574 4,489 
Segment operating income$72,349 $70,848 $222,795 $136,850 
(1) Restructuring and other related charges includes $2.2 million and $4.9 million of expense classified as Cost of sales on the Company’s Condensed Consolidated Statements of Operations for the three and nine months ended October 2, 2020, respectively.
(2) Primarily related to costs specific to compliance with medical device reporting regulations and other requirements of the European Union MDR. These costs are classified as Selling, general and administrative expense on the Company’s Condensed Consolidated Statements of Operations for all periods presented.