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SEGMENT INFORMATION (Financial Information of Reportable Segments) (Details) - USD ($)
$ in Thousands
3 Months Ended 12 Months Ended
Dec. 31, 2019
Sep. 30, 2019
Jun. 30, 2019
Mar. 31, 2019
Dec. 31, 2018
Sep. 30, 2018
Jun. 30, 2018
Mar. 31, 2018
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
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)      
Net Sales $ 736,307 $ 730,783 $ 777,008 $ 759,174 743,827 737,099 $ 790,052 757,696 $ 3,003,272 $ 3,028,674 $ 2,624,431
Revenue from Related Parties                 0 0 0
Segment, including Inter-segment, sales                 3,003,272 3,028,674 2,624,431
EBIT, as adjusted                 400,753 422,694 370,338
Special items charge (Gain)                 8,845 36,469 (15,330)
EBIT                 391,908 386,225 385,668
Interest income                 2,527 6,938 4,788
Interest expense                 (25,942) (24,503) (24,220)
Income before income taxes 80,294 [1] 91,797 [2] 103,484 [3] 92,918 [4] 94,455 [1] 95,744 [2] 94,263 [3] 84,198 [4] 368,493 368,660 366,236
Total assets 2,371,213       2,349,825       2,371,213 2,349,825 2,406,547
Equity investments in affiliates 4,274       31,228       4,274 31,228 28,526
Capital expenditures                 69,615 71,246 61,656
Depreciation and amortization                 81,487 72,346 68,115
Rationalization and asset impairment charges (gains) 8,851 1,495 1,307 3,535 932 2,636 11,542 10,175 15,188 25,285 6,590
Business Combination, Inventory Step Up   1,609 1,399               4,578
Acquisition Transaction and Integration Costs     1,014 $ 790 833 $ 970 $ 788 $ 1,907 1,804 4,498 15,002
Business Combination, Bargain Purchase, Gain Recognized, Amount                 0 0 49,650
Gain (Loss) on Disposition of Assets     $ 3,554                
Business Combination, Step Acquisition, Equity Interest in Acquiree, Remeasurement Gain (Loss), Net                 7,601 0 0
The Harris Products Group                      
Financial information for the reportable segments                      
Net Sales                 333,150 302,389 290,628
Revenue from Related Parties                 7,487 6,969 8,190
Segment, including Inter-segment, sales                 340,637 309,358 298,818
EBIT, as adjusted                 45,701 36,564 36,442
Special items charge (Gain)                 1,770 [5] 0 0
EBIT                 43,931 36,564 36,442
Total assets 203,602       203,095       203,602 203,095 175,151
Equity investments in affiliates 0       0       0 0 0
Capital expenditures                 7,383 2,909 3,949
Depreciation and amortization                 4,636 3,045 2,885
Rationalization and asset impairment charges (gains)                 1,770    
Corporate / Eliminations                      
Financial information for the reportable segments                      
Net Sales                 0 0 0
Revenue from Related Parties                 (148,520) (144,481) (124,432)
Segment, including Inter-segment, sales                 (148,520) (144,481) (124,432)
EBIT, as adjusted                 (10,948) (8,887) 309
Special items charge (Gain) [6]                 1,804 4,498 (34,648)
EBIT                 (12,752) (13,385) 34,957
Total assets (154,543)       (99,307)       (154,543) (99,307) 57,990
Equity investments in affiliates 0       0       0 0 0
Capital expenditures                 0 0 0
Depreciation and amortization                 (462) (91) (172)
Acquisition Transaction and Integration Costs                 1,804 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                     1,091
Net Sales                 1,815,746 1,806,514 1,609,779
Revenue from Related Parties                 123,342 118,936 97,382
Segment, including Inter-segment, sales                 1,939,088 1,925,450 1,707,161
EBIT, as adjusted                 315,719 340,744 291,866
Special items charge (Gain) [7]                 3,115 6,686 9,242
EBIT                 312,604 334,058 282,624
Total assets 1,490,395       1,418,905       1,490,395 1,418,905 1,253,411
Equity investments in affiliates 4,274       4,204       4,274 4,204 4,037
Capital expenditures                 39,106 42,053 43,158
Depreciation and amortization                 55,300 47,008 47,038
Rationalization and asset impairment charges (gains)                 1,716    
Business Combination, Inventory Step Up                 1,399    
International Welding [Member]                      
Financial information for the reportable segments                      
Net Sales                 854,376 919,771 724,024
Revenue from Related Parties                 17,691 18,576 18,860
Segment, including Inter-segment, sales                 872,067 938,347 742,884
EBIT, as adjusted                 50,281 54,273 41,721
Special items charge (Gain) [8]                 2,156 25,285 10,076
EBIT                 48,125 28,988 31,645
Total assets 831,759       827,132       831,759 827,132 919,995
Equity investments in affiliates $ 0       $ 27,024       0 27,024 24,489
Capital expenditures                 23,126 26,284 14,549
Depreciation and amortization                 22,013 22,384 18,364
Rationalization and asset impairment charges (gains)                 11,702 $ 25,285 5,498
Business Combination, Inventory Step Up                 1,609   $ 4,578
Gain (Loss) on Disposition of Assets                 3,554    
Business Combination, Step Acquisition, Equity Interest in Acquiree, Remeasurement Gain (Loss), Net   $ 7,601             $ 7,601    
[1]
2019 includes special item charges of $8,851 ($7,284 after-tax) for Rationalization and asset impairment charges.
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.
[2]
2019 includes special item charges of $1,495 ($1,240 after-tax) for Rationalization and asset impairment charges, $1,609 for amortization of step up in value of acquired inventories and $7,601 for a gain on change in control related to the acquisition of Askaynak.
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.
[3]
2019 includes special item charges of $3,554 ($2,586 after-tax) for gains on the disposal of assets, $1,399 ($1,049 after-tax) for amortization of step up in value of acquired inventories, $1,014 ($867 after-tax) for acquisition transaction and integration costs, $1,307 ($937 after-tax) for Rationalization and asset impairment charges and $4,852 for the settlement of a tax item as well as tax deductions associated with an investment in a subsidiary.
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.
[4]
2019 includes special item charges of $3,535 ($2,814 after-tax) for Rationalization and asset impairment charges and $790 ($698 after-tax) for acquisition transaction and integration costs.
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.
[5] Rationalization and asset impairment charges of $1,770
[6] acquisition transaction and integration costs of $1,804 related to the Air Liquide Welding acquisition as discussed in Note 4 to the consolidated financial statements.
2018 special items reflect 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.
[7]
2019 special items reflect Rationalization and asset impairment charges of $1,716 and amortization of step up in value of acquired inventories of $1,399 related to the acquisition of Baker.
2018 special items 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] Rationalization and asset impairment charges of $11,702, amortization of step up in value of acquired inventories of $1,609 related to the acquisition of Askaynak, gains on disposals of assets of $3,554 and a gain on change in control of $7,601 related to the acquisition of Askaynak.
2018 special items reflect Rationalization and asset impairment 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 Rationalization and asset impairment charges of $5,498 related to employee severance, asset impairments and other related costs.