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SEGMENT INFORMATION (Details)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2019
USD ($)
Jun. 30, 2018
USD ($)
Jun. 30, 2019
USD ($)
segment
Jun. 30, 2018
USD ($)
Financial information for the reportable segments        
Restructuring, Settlement and Impairment Provisions $ 1,307 $ 11,542 $ 4,842 $ 21,717
Number of operating segments | segment     3  
Net sales 777,008 790,052 $ 1,536,182 1,547,748
Inter-segment sales 0 0 0 0
Total 777,008 790,052 1,536,182 1,547,748
EBIT, as adjusted 109,548 111,405 212,114 212,884
Special items charge (gain) 166 [1] 12,330 [2] 4,491 [1] 25,170 [2]
Defined Benefit Plan, Net Periodic Benefit (Cost) Credit, Gain (Loss) Due to Settlement and Curtailment       (758)
EBIT 109,382 99,075 207,623 187,714
Interest income 592 1,808 1,556 3,280
Interest expense (6,490) (6,620) (12,777) (12,533)
Income before income taxes 103,484 94,263 196,402 178,461
The Harris Products Group        
Financial information for the reportable segments        
Net sales 88,095 84,164 171,464 159,768
Inter-segment sales 2,113 2,003 3,980 3,910
Total 90,208 86,167 175,444 163,678
EBIT, as adjusted 13,488 10,157 24,007 19,382
Special items charge (gain) 0 [1] 0 [2] 0 [1] 0 [2]
EBIT 13,488 10,157 24,007 19,382
Corporate / Eliminations        
Financial information for the reportable segments        
Acquisition Transaction and Integration Costs 1,014 788 1,804 2,695
Net sales 0 0 0 0
Inter-segment sales (41,112) (38,740) (76,576) (71,742)
Total (41,112) (38,740) (76,576) (71,742)
EBIT, as adjusted (3,969) (3,186) (7,011) (3,344)
Special items charge (gain) 1,014 [1] 788 [2] 1,804 [1] 2,695 [2]
EBIT (4,983) (3,974) (8,815) (6,039)
Americas Welding        
Financial information for the reportable segments        
Restructuring, Settlement and Impairment Provisions 380   1,716  
Net sales 476,607 462,515 934,326 897,287
Inter-segment sales 34,811 31,240 64,199 57,826
Total 511,418 493,755 998,525 955,113
EBIT, as adjusted 84,851 88,158 166,603 165,597
Special items charge (gain) 1,779 [1] 0 [2] 3,115 [1] 758 [2]
Defined Benefit Plan, Net Periodic Benefit (Cost) Credit, Gain (Loss) Due to Settlement and Curtailment       (758)
Business Combination, Inventory Step Up 1,399   1,399  
EBIT 83,072 88,158 163,488 164,839
International Welding        
Financial information for the reportable segments        
Restructuring, Settlement and Impairment Provisions 927 11,542 3,126 21,717
Net sales 212,306 243,373 430,392 490,693
Inter-segment sales 4,188 5,497 8,397 10,006
Total 216,494 248,870 438,789 500,699
EBIT, as adjusted 15,178 16,276 28,515 31,249
Special items charge (gain) (2,627) [1] 11,542 [2] (428) [1] 21,717 [2]
Gain (Loss) on Disposition of Assets 3,554   3,554  
EBIT $ 17,805 $ 4,734 $ 28,943 $ 9,532
[1]
In the three months ended June 30, 2019, special items reflect Rationalization and asset impairment charges of $380 in Americas Welding and $927 in International Welding, amortization of step up in value of acquired inventories of $1,399
in Americas Welding, gains on disposal of assets of $3,554 in International Welding and transaction and integration costs of $1,014 in Corporate / Eliminations related to the Air Liquide Welding acquisition. In the six months ended June 30, 2019, special items reflect Rationalization and asset impairment charges of $1,716 in Americas Welding and $3,126 in International Welding, amortization of step up in value of acquired inventories of $1,399 in Americas Welding, gains on disposals of assets of $3,554 in International Welding and transaction and integration costs of $1,804 in Corporate / Eliminations related to the Air Liquide Welding acquisition.
[2]
In the three months ended June 30, 2018, special items reflect rationalization and asset impairment charges of $11,542 in International Welding and transaction and integration costs of $788 in Corporate / Eliminations related to the Air Liquide Welding acquisition. In the six months ended June 30, 2018, special items reflect pension settlement charges of $758 in Americas Welding, Rationalization and asset impairment charges of $21,717 in International Welding and transaction and integration costs of $2,695 in Corporate / Eliminations related to the Air Liquide Welding acquisition.