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SEGMENT INFORMATION (Details)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2019
USD ($)
Sep. 30, 2018
USD ($)
Sep. 30, 2019
USD ($)
segment
Sep. 30, 2018
USD ($)
Financial information for the reportable segments        
Restructuring, Settlement and Impairment Provisions $ 1,495 $ 2,636 $ 6,337 $ 24,353
Number of operating segments | segment     3  
Net sales 730,783 737,099 $ 2,266,965 2,284,847
Inter-segment sales 0 0 0 0
Total 730,783 737,099 2,266,965 2,284,847
EBIT, as adjusted 93,700 107,551 305,814 320,435
Special items charge (gain) (4,497) [1] 7,838 [2] (6) [1] 33,008 [2]
Defined Benefit Plan, Net Periodic Benefit (Cost) Credit, Gain (Loss) Due to Settlement and Curtailment   (4,232)   (4,990)
Business Combination, Step Acquisition, Equity Interest in Acquiree, Remeasurement Gain (Loss), Net 7,601   7,601 0
EBIT 98,197 99,713 305,820 287,427
Interest income 491 1,993 2,047 5,273
Interest expense (6,891) (5,962) (19,668) (18,495)
Income before income taxes 91,797 95,744 288,199 274,205
The Harris Products Group        
Financial information for the reportable segments        
Net sales 81,884 73,467 253,348 233,235
Inter-segment sales 1,857 1,537 5,837 5,447
Total 83,741 75,004 259,185 238,682
EBIT, as adjusted 11,038 8,676 35,045 28,058
Special items charge (gain) 0 [1] 0 [2] 0 [1] 0 [2]
EBIT 11,038 8,676 35,045 28,058
Corporate / Eliminations        
Financial information for the reportable segments        
Acquisition Transaction and Integration Costs   970 1,804 3,665
Net sales 0 0 0 0
Inter-segment sales (37,399) (37,045) (113,975) (108,787)
Total (37,399) (37,045) (113,975) (108,787)
EBIT, as adjusted (1,632) (1,099) (8,643) (4,443)
Special items charge (gain) 0 [1] 970 [2] 1,804 [1] 3,665 [2]
EBIT (1,632) (2,069) (10,447) (8,108)
Americas Welding        
Financial information for the reportable segments        
Restructuring, Settlement and Impairment Provisions     1,716  
Net sales 443,521 454,010 1,377,847 1,351,297
Inter-segment sales 31,101 31,845 95,300 89,671
Total 474,622 485,855 1,473,147 1,440,968
EBIT, as adjusted 74,110 89,253 240,713 254,850
Special items charge (gain) 0 [1] 4,232 [2] 3,115 [1] 4,990 [2]
Defined Benefit Plan, Net Periodic Benefit (Cost) Credit, Gain (Loss) Due to Settlement and Curtailment   (4,232)   (4,990)
Business Combination, Inventory Step Up     1,399  
EBIT 74,110 85,021 237,598 249,860
International Welding        
Financial information for the reportable segments        
Restructuring, Settlement and Impairment Provisions 1,495 2,636 4,621 24,353
Net sales 205,378 209,622 635,770 700,315
Inter-segment sales 4,441 3,663 12,838 13,669
Total 209,819 213,285 648,608 713,984
EBIT, as adjusted 10,184 10,721 38,699 41,970
Special items charge (gain) (4,497) [1] 2,636 [2] (4,925) [1] 24,353 [2]
Business Combination, Inventory Step Up 1,609   1,609  
Business Combination, Step Acquisition, Equity Interest in Acquiree, Remeasurement Gain (Loss), Net 7,601   7,601  
Gain (Loss) on Disposition of Assets     3,554  
EBIT $ 14,681 $ 8,085 $ 43,624 $ 17,617
[1]
In the three months ended September 30, 2019, special items reflect Rationalization and asset impairment charges of $1,495, amortization of step up in value of acquired inventories of $1,609 related to the acquisition of Askaynak and
gain on change in control of $7,601 related to the acquisition of Askaynak in International Welding. In the nine months ended September 30, 2019, special items reflect Rationalization and asset impairment charges of $1,716 in Americas Welding and $4,621 in International Welding, amortization of step up in value of acquired inventories of $1,399 related to the acquisition of Baker Industries in Americas Welding and $1,609 related to the acquisition of Askaynak in International Welding, gains on disposals of assets of $3,554 in International Welding and acquisition transaction and integration costs of $1,804 in Corporate / Eliminations related to the Air Liquide Welding acquisition and a gain on change in control of $7,601 related to the acquisition of Askaynak.
[2]
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. 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 acquisition transaction and integration costs of $3,665 in Corporate / Eliminations related to the Air Liquide Welding acquisition.