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SEGMENT INFORMATION (Details)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2020
USD ($)
Jun. 30, 2019
USD ($)
Jun. 30, 2020
USD ($)
segment
Jun. 30, 2019
USD ($)
Financial information for the reportable segments        
Rationalization and asset impairment charges (Note 6) $ 23,238 $ 1,307 $ 29,759 $ 4,842
Number of operating segments | segment     3  
Net sales 590,727 777,008 $ 1,292,718 1,536,182
Inter-segment sales 0 0 0 0
Total 590,727 777,008 1,292,718 1,536,182
EBIT, as adjusted 66,133 109,548 154,843 212,114
Special items charge (gain) 26,572 [1] 166 [2] 33,899 [1] 4,491 [2]
EBIT 39,561 109,382 120,944 207,623
Interest income 424 592 1,284 1,556
Interest expense (6,305) (6,490) (12,623) (12,777)
Income before income taxes 33,680 103,484 109,605 196,402
The Harris Products Group        
Financial information for the reportable segments        
Net sales 80,331 88,095 165,864 171,464
Inter-segment sales 1,753 2,113 3,478 3,980
Total 82,084 90,208 169,342 175,444
EBIT, as adjusted 11,713 13,488 24,205 24,007
Special items charge (gain) 0 [1] 0 [2] 0 [1] 0 [2]
EBIT 11,713 13,488 24,205 24,007
Corporate / Eliminations        
Financial information for the reportable segments        
Acquisition Transaction and Integration Costs   1,014   1,804
Net sales 0 0 0 0
Inter-segment sales (33,532) (41,112) (64,523) (76,576)
Total (33,532) (41,112) (64,523) (76,576)
EBIT, as adjusted (1,964) (3,969) (3,063) (7,011)
Special items charge (gain) 0 [1] 1,014 [2] 0 [1] 1,804 [2]
EBIT (1,964) (4,983) (3,063) (8,815)
Americas Welding        
Financial information for the reportable segments        
Rationalization and asset impairment charges (Note 6) 22,673 380 23,863 1,716
Net sales 333,229 476,607 751,764 934,326
Inter-segment sales 27,493 34,811 52,276 64,199
Total 360,722 511,418 804,040 998,525
EBIT, as adjusted 46,702 84,851 117,404 166,603
Special items charge (gain) 26,007 [1] 1,779 [2] 27,197 [1] 3,115 [2]
Defined Benefit Plan, Net Periodic Benefit (Cost) Credit, Gain (Loss) Due to Settlement and Curtailment (3,334)   (3,334)  
Business Combination, Inventory Step Up   1,399   1,399
EBIT 20,695 83,072 90,207 163,488
International Welding        
Financial information for the reportable segments        
Rationalization and asset impairment charges (Note 6) 565 927 5,896 3,126
Net sales 177,167 212,306 375,090 430,392
Inter-segment sales 4,286 4,188 8,769 8,397
Total 181,453 216,494 383,859 438,789
EBIT, as adjusted 9,682 15,178 16,297 28,515
Special items charge (gain) 565 [1] (2,627) [2] 6,702 [1] (428) [2]
Business Combination, Inventory Step Up     806  
Gain (Loss) on Disposition of Assets   3,554   3,554
EBIT $ 9,117 $ 17,805 $ 9,595 $ 28,943
[1]
In the three months ended June 30, 2020, special items reflect Rationalization and asset impairment charges of $22,673 and $565 in Americas Welding and International Welding, respectively, and pension settlement charges of $3,334 in
Americas Welding. In the six months ended June 30, 2020, special items reflect Rationalization and asset impairment charges of $23,863 and $5,896 in Americas Welding and International Welding, respectively, amortization of step up in value of acquired inventories of $806 related to an acquisition in International Welding and pension settlement charges of $3,334 in Americas Welding.
[2]
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 and $3,126 in Americas Welding and International Welding, respectively, 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 acquisition transaction and integration costs of $1,804 in Corporate / Eliminations related to the Air Liquide Welding acquisition.