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SEGMENT INFORMATION (Financial Information of Reportable Segments) (Details) - USD ($)
$ in Thousands
3 Months Ended 12 Months Ended
Dec. 31, 2018
Sep. 30, 2018
Jun. 30, 2018
Mar. 31, 2018
Dec. 31, 2017
Sep. 30, 2017
Jun. 30, 2017
Mar. 31, 2017
Dec. 31, 2018
Dec. 31, 2017
Dec. 31, 2016
Financial information for the reportable segments                      
Defined Benefit Plan, Net Periodic Benefit Cost (Credit), Gain (Loss) Due to Settlement and Curtailment $ (1,696) $ (4,232)   $ (758) $ (2,867) $ (5,283)          
Goodwill, Impairment Loss [1]                   $ 1,091  
Loss on deconsolidation of Venezuelan subsidiary                 $ 0 0 $ 34,348
Net sales 743,827 737,099 $ 790,052 757,696 747,185 669,491 $ 626,858 $ 580,897 3,028,674 2,624,431 2,274,614
Revenue from Related Parties                 0 0 0
Segment, including Inter-segment, sales                 3,028,674 2,624,431 2,274,614
EBIT, as adjusted                 422,694 370,338 328,723
Special items charge (Gain)                 36,469 (15,330) 34,348
EBIT                 386,225 385,668 294,375
Interest income                 6,938 4,788 2,092
Interest expense                 (24,503) (24,220) (19,079)
Income before income taxes 94,455 [2] 95,744 [3] 94,263 [4] 84,198 [5] 73,728 [2] 130,642 [3] 83,966 [4] 77,900 [5] 368,660 366,236 277,388
Total assets 2,349,825       2,406,547       2,349,825 2,406,547 1,943,437
Equity investments in affiliates 31,228       28,526       31,228 28,526 27,301
Capital expenditures                 71,246 61,656 49,877
Depreciation and amortization                 72,346 68,115 65,073
Rationalization and asset impairment charges (gains) 932 2,636 11,542 10,175 6,590       25,285 6,590 0
Business Combination, Inventory Step Up         2,264 2,314       4,578  
Acquisition Transaction and Integration Costs 833 $ 970 $ 788 $ 1,907 3,616 3,273 $ 4,498 $ 3,615 4,498 15,002  
Business Combination, Bargain Purchase, Gain Recognized, Amount         (1,935) $ 51,585     0 49,650 0
The Harris Products Group                      
Financial information for the reportable segments                      
Goodwill, Impairment Loss [1]                   0  
Net sales                 302,389 290,628 272,343
Revenue from Related Parties                 6,969 8,190 8,709
Segment, including Inter-segment, sales                 309,358 298,818 281,052
EBIT, as adjusted                 36,564 36,442 32,380
Special items charge (Gain)                 0 0 0
EBIT                 36,564 36,442 32,380
Total assets 203,095       175,151       203,095 175,151 161,391
Equity investments in affiliates 0       0       0 0 0
Capital expenditures                 2,909 3,949 2,209
Depreciation and amortization                 3,045 2,885 2,860
Corporate / Eliminations                      
Financial information for the reportable segments                      
Loss on deconsolidation of Venezuelan subsidiary                     34,348
Net sales                 0 0 0
Revenue from Related Parties                 (144,481) (124,432) (118,296)
Segment, including Inter-segment, sales                 (144,481) (124,432) (118,296)
EBIT, as adjusted                 (8,887) 309 564
Special items charge (Gain) [6]                 4,498 (34,648) 34,348
EBIT                 (13,385) 34,957 (33,784)
Total assets (99,307)       57,990       (99,307) 57,990 (25,594)
Equity investments in affiliates 0       0       0 0 0
Capital expenditures                 0 0 0
Depreciation and amortization                 (91) (172) (209)
Acquisition Transaction and Integration Costs                 4,498 15,002  
Americas Welding [Member]                      
Financial information for the reportable segments                      
Defined Benefit Plan, Net Periodic Benefit Cost (Credit), Gain (Loss) Due to Settlement and Curtailment                 (6,686) (8,150)  
Goodwill, Impairment Loss [1]                   1,091  
Net sales                 1,806,514 1,609,779 1,494,982
Revenue from Related Parties                 118,936 97,382 93,612
Segment, including Inter-segment, sales                 1,925,450 1,707,161 1,588,594
EBIT, as adjusted                 340,744 291,866 266,633
Special items charge (Gain) [7]                 6,686 9,242 0
EBIT                 334,058 282,624 266,633
Total assets 1,418,905       1,253,411       1,418,905 1,253,411 1,278,417
Equity investments in affiliates 4,204       4,037       4,204 4,037 3,946
Capital expenditures                 42,053 43,158 35,314
Depreciation and amortization                 47,008 47,038 47,359
International Welding [Member]                      
Financial information for the reportable segments                      
Goodwill, Impairment Loss [1]                   0  
Net sales                 919,771 724,024 507,289
Revenue from Related Parties                 18,576 18,860 15,975
Segment, including Inter-segment, sales                 938,347 742,884 523,264
EBIT, as adjusted                 54,273 41,721 29,146
Special items charge (Gain) [8]                 25,285 10,076 0
EBIT                 28,988 31,645 29,146
Total assets 827,132       919,995       827,132 919,995 529,223
Equity investments in affiliates $ 27,024       $ 24,489       27,024 24,489 23,355
Capital expenditures                 26,284 14,549 12,354
Depreciation and amortization                 22,384 18,364 $ 15,063
Rationalization and asset impairment charges (gains)                 $ 25,285 5,498  
Business Combination, Inventory Step Up                   $ 4,578  
[1] The Company performed an interim goodwill impairment test, using a combination of income and market valuation approaches, resulting in a non-cash impairment charge to the carrying value of goodwill. The impairment charge is recorded within Rationalization and asset impairment charges in the accompanying Consolidated Statements of Income.
[2] 2018 includes special item charges of $1,696 ($1,272 after-tax) for pension settlement charges, $932 ($841 gain after-tax) for rationalization and asset impairment charges and gains or losses on the disposal of assets, a $4,424 credit related to the U.S. Tax Act and acquisition-related items including $833 ($690 after-tax) for acquisition transaction and integration costs. 2017 includes special item charges of $2,867 ($1,770 after-tax) for pension settlement charges, $6,590 ($6,198 after-tax) for rationalization and asset impairment charges, $28,616 for the net impact of the U.S. Tax Act and acquisition-related items including $2,264 ($1,708 after-tax) in amortization of step up in value of acquired inventories, $3,616 ($3,102 after-tax) for acquisition transaction and integration costs and a $1,935 adjustment to the bargain purchase gain
[3] 2018 includes special item charges of $4,232 ($3,176 after-tax) for pension settlement charges, $2,636 ($2,575 after-tax) for rationalization and asset impairment charges, an adjustment to taxes on unremitted foreign earnings related to the U.S. Tax Act of $2,323 and acquisition-related items including $970 ($797 after-tax) for acquisition transaction and integration costs.2017 includes special item charges of $5,283 ($3,260 after-tax) for pension settlement charges and acquisition-related items including $2,314 ($1,745 after-tax) in amortization of step up in value of acquired inventories, $3,273 ($2,229 after-tax) for acquisition transaction and integration costs and a $51,585 bargain purchase gain
[4] 2018 includes special item charges of $11,542 ($10,362 after-tax) for rationalization and asset impairment charges and $788 ($675 after-tax) for acquisition transaction and integration costs.2017 includes special item charges of $4,498 ($3,494 after-tax) related to acquisition transaction and integration costs
[5] 2018 includes special item charges of $758 ($569 after-tax) for pension settlement charges, $10,175 ($7,870 after-tax) for rationalization and asset impairment charges, an adjustment to taxes on unremitted foreign earnings related to the U.S. Tax Act of $2,500 and $1,907 ($1,520 after-tax) for acquisition transaction and integration costs.2017 includes special item charges of $3,615 ($2,734 after-tax) related to acquisition transaction costs.
[6] 2018 special items reflect acquisition and acquisition transaction and integration costs of $4,498 related to the Air Liquide Welding acquisition as discussed in Note 4 to the consolidated financial statements.2017 special items reflect a bargain purchase gain of $49,650 and acquisition transaction and integration costs of $15,002 related to the Air Liquide Welding acquisition as discussed in Note 4 to the consolidated financial statements.2016 special items reflect a loss of $34,348 related to the deconsolidation of the Company's Venezuelan subsidiary.
[7] Special items in 2018 reflect pension settlement charges of $6,686 in Americas Welding related to lump sum pension payments. 2017 special items reflect pension settlement charges of $8,150 related to lump sum pension payments, as well as non-cash charges of $1,091 related to the impairment of goodwill.
[8] 2018 special items reflect charges of $25,285 related to employee severance, asset impairments, gains or losses on disposal of assets and other related costs.2017 special items reflect amortization of step up in value of acquired inventories of $4,578 related to the Air Liquide Welding acquisition as discussed in Note 4 to the consolidated financial statements, as well as charges of $5,498 related to employee severance, asset impairments and other related costs.