SEGMENT INFORMATION (Tables)

12 Months Ended

Dec. 31, 2021

Schedule of financial information for the reportable segments


					The Harris
	Americas		International		Products		Corporate /
	Welding ⁽¹⁾		Welding ⁽²⁾		Group ⁽³⁾		Eliminations ⁽⁴⁾		Consolidated
For the Year Ended December 31, 2021
Net sales	$	1,824,481	$	948,125	$	461,574	$	—	$	3,234,180
Inter-segment sales		140,650		26,331		8,096		(175,077)		—
Total	$	1,965,131	$	974,456	$	469,670	$	(175,077)	$	3,234,180
Adjusted EBIT	$	329,016	$	106,208	$	68,447	$	(12,403)	$	491,268
Special items charge (gain)		123,114		15,234		3,785		1,923		144,056
EBIT	$	205,902	$	90,974	$	64,662	$	(14,326)	$	347,212
Interest income										1,567
Interest expense										(23,781)
Income before income taxes									$	324,998

Total assets	$	1,521,083	$	938,061	$	330,678	$	(197,515)	$	2,592,307
Equity investments in affiliates		5,181		—		—		—		5,181
Capital expenditures		37,717		16,916		7,898		—		62,531
Depreciation and amortization		49,510		24,998		6,795		(157)		81,146
For the Year Ended December 31, 2020
Net sales	$	1,509,870	$	786,809	$	358,721	$	—	$	2,655,400
Inter-segment sales		109,378		18,494		7,034		(134,906)		—
Total	$	1,619,248	$	805,303	$	365,755	$	(134,906)	$	2,655,400
Adjusted EBIT	$	245,728	$	44,979	$	55,154	$	(5,455)	$	340,406
Special items charge (gain)		34,989		19,404		—		—		54,393
EBIT	$	210,739	$	25,575	$	55,154	$	(5,455)	$	286,013
Interest income										1,986
Interest expense										(23,959)
Income before income taxes									$	264,040

Total assets	$	1,423,393	$	807,407	$	225,959	$	(142,306)	$	2,314,453
Equity investments in affiliates		4,682		—		—		—		4,682
Capital expenditures		30,811		21,819		6,571		—		59,201
Depreciation and amortization		51,744		23,859		4,982		(93)		80,492
For the Year Ended December 31, 2019
Net sales	$	1,815,746	$	854,376	$	333,150	$	—	$	3,003,272
Inter-segment sales		123,342		17,691		7,487		(148,520)		—
Total	$	1,939,088	$	872,067	$	340,637	$	(148,520)	$	3,003,272
Adjusted EBIT	$	315,719	$	50,281	$	45,701	$	(10,948)	$	400,753
Special items charge		3,115		2,156		1,770		1,804		8,845
EBIT	$	312,604	$	48,125	$	43,931	$	(12,752)	$	391,908
Interest income										2,527
Interest expense										(25,942)
Income before income taxes									$	368,493

Total assets	$	1,490,395	$	831,759	$	203,602	$	(154,543)	$	2,371,213
Equity investments in affiliates		4,274		—		—		—		4,274
Capital expenditures		39,106		23,126		7,383		—		69,615
Depreciation and amortization		55,300		22,013		4,636		(462)		81,487

(1)	2021 special items reflect pension settlement charges of $123,091.

2020 special items reflect Rationalization and asset impairment charges of $26,870 and pension settlement charges of $8,119.

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 an acquisition.

(2)	2021 special items reflect Rationalization and asset impairment charges of $9,804, pension settlement charges of $446, and amortization of step up in value of acquired inventories of $4,984 related to an acquisition.

2020 special items reflect Rationalization and asset impairment charges of $18,598 and amortization of step up in value of acquired inventories of $806 related to an acquisition.

2019 special items reflect Rationalization and asset impairment charges of $11,702, amortization of step up in value of acquired inventories of $1,609 related to an acquisition, gains on disposals of assets of $3,554 and a gain on change in control of $7,601 related to an acquisition.

(3)	2021 special items reflect pension settlement charges of $2,965 and amortization of step up in value of acquired inventories of $820 related to an acquisition.

2019 special items reflect Rationalization and asset impairment charges of $1,770.

(4)	2021 special items reflect acquisition transaction and integration costs of $1,923 related acquisitions as discussed in Note 4 to the consolidated financial statements

2019 special items reflect acquisition transaction and integration costs of $1,804 related to an acquisition as discussed in Note 4 to the consolidated financial statements.

Schedule of geographical split of the Company's net sales, based on the location of the customers, and property plant equipment

The geographic split of the Company’s Net sales, based on the location of the customer, and property, plant and equipment were as follows:


	Year Ended December 31,
	2021		2020		2019
Net sales:
United States	$	1,726,498	$	1,431,859	$	1,615,483
Foreign countries		1,507,682		1,223,541		1,387,789
Total	$	3,234,180	$	2,655,400	$	3,003,272


	December 31,
	2021		2020		2019
Property, plant and equipment, net:
United States	$	262,247	$	247,931	$	250,923
Foreign countries		249,497		274,214		278,566
Eliminations		—		(53)		(145)
Total	$	511,744	$	522,092	$	529,344