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SEGMENT INFORMATION (Tables)
 9 Months Ended
Sep. 30, 2018
Segment Reporting [Abstract]  
Schedule of financial information for the reportable segments
Financial information for the reportable segments follows:
 
Americas Welding
 
International Welding
 
The Harris
Products Group
 
Corporate /
Eliminations
 
Consolidated
Three Months Ended September 30, 2018
 

 
 

 
 

 
 

 
 

Net sales
$
454,010

 
$
209,622

 
$
73,467

 
$
—

 
$
737,099

Inter-segment sales
31,845

 
3,663

 
1,537

 
(37,045
)
 
—

Total
$
485,855

 
$
213,285

 
$
75,004

 
$
(37,045
)
 
$
737,099

 
 
 
 
 
 
 
 
 
 
Adjusted EBIT
$
89,253

 
$
10,721

 
$
8,676

 
$
(1,099
)
 
$
107,551

Special items charge (gain) (1)
4,232

 
2,636

 
—

 
970

 
7,838

EBIT
$
85,021

 
$
8,085

 
$
8,676

 
$
(2,069
)
 
$
99,713

Interest income
 

 
 

 
 

 
 

 
1,993

Interest expense
 

 
 

 
 

 
 

 
(5,962
)
Income before income taxes
 

 
 

 
 

 
 

 
$
95,744

Three Months Ended September 30, 2017
 

 
 

 
 

 
 

 
 

Net sales
$
398,289

 
$
197,617

 
$
73,585

 
$
—

 
$
669,491

Inter-segment sales
25,546

 
5,451

 
2,064

 
(33,061
)
 
—

Total
$
423,835

 
$
203,068

 
$
75,649

 
$
(33,061
)
 
$
669,491

 
 
 
 
 
 
 
 
 
 
Adjusted EBIT
$
74,096

 
$
10,612

 
$
9,244

 
$
570

 
$
94,522

Special items charge (gain) (2)
5,283

 
2,314

 
—

 
(48,312
)
 
(40,715
)
EBIT
$
68,813

 
$
8,298

 
$
9,244

 
$
48,882

 
$
135,237

Interest income
 

 
 

 
 

 
 

 
1,327

Interest expense
 

 
 

 
 

 
 

 
(5,922
)
Income before income taxes
 

 
 

 
 

 
 

 
$
130,642

Nine Months Ended September 30, 2018
 

 
 

 
 

 
 

 
 

Net sales
$
1,351,297

 
$
700,315

 
$
233,235

 
$
—

 
$
2,284,847

Inter-segment sales
89,671

 
13,669

 
5,447

 
(108,787
)
 
—

Total
$
1,440,968

 
$
713,984

 
$
238,682

 
$
(108,787
)
 
$
2,284,847

 
 
 
 
 
 
 
 
 
 
Adjusted EBIT
$
254,850

 
$
41,970

 
$
28,058

 
$
(4,443
)
 
$
320,435

Special items charge (gain) (1)
4,990

 
24,353

 
—

 
3,665

 
33,008

EBIT
$
249,860

 
$
17,617

 
$
28,058

 
$
(8,108
)
 
$
287,427

Interest income
 

 
 

 
 

 
 

 
5,273

Interest expense
 

 
 

 
 

 
 
 
(18,495
)
Income before income taxes
 

 
 

 
 

 
 

 
$
274,205

Nine Months Ended September 30, 2017
 

 
 

 
 

 
 

 
 

Net sales
$
1,186,760

 
$
468,003

 
$
222,483

 
$
—

 
$
1,877,246

Inter-segment sales
75,380

 
15,214

 
6,763

 
(97,357
)
 
—

Total
$
1,262,140

 
$
483,217

 
$
229,246

 
$
(97,357
)
 
$
1,877,246

 
 
 
 
 
 
 
 
 
 
Adjusted EBIT
$
217,317

 
$
29,713

 
$
27,491

 
$
369

 
$
274,890

Special items charge (gain) (2)
5,283

 
2,314

 
—

 
(40,199
)
 
(32,602
)
EBIT
$
212,034

 
$
27,399

 
$
27,491

 
$
40,568

 
$
307,492

Interest income
 

 
 

 
 

 
 

 
3,349

Interest expense
 

 
 

 
 

 
 

 
(18,333
)
Income before income taxes
 

 
 

 
 

 
 

 
$
292,508




(1)
In the three months ended September 30, 2018, special items reflect pension settlement charges of $4,232 in Americas Welding, rationalization and asset impairment charges of $2,636 in International Welding and transaction and integration costs of $970 in Corporate / Eliminations related to the Air Liquide Welding acquisition as discussed in Note 4 to the consolidated financial statements. In the nine months ended September 30, 2018, special items reflect pension settlement charges of $4,990 in Americas Welding, rationalization and asset impairment charges of $24,353 in International Welding and transaction and integration costs of $3,665 in Corporate / Eliminations related to the Air Liquide Welding acquisition as discussed in Note 4 to the consolidated financial statements.
(2)
In the three and nine months ended September 30, 2017, special items reflect pension settlement charges of $5,283 in Americas Welding, amortization of step up in value of acquired inventories of $2,314 in International Welding and transaction and integration costs of $3,273 and $11,386, respectively, offset by a bargain purchase gain of $51,585 in Corporate / Eliminations related to the Air Liquide Welding acquisition as discussed in Note 4 to the consolidated financial statements.