SEGMENT INFORMATION (Tables)

12 Months Ended

Dec. 31, 2022

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, 2022
Net sales	$	2,288,934	$	954,281	$	517,996	$	—	$	3,761,211
Inter-segment sales		122,019		31,503		11,040		(164,562)		—
Total	$	2,410,953	$	985,784	$	529,036	$	(164,562)	$	3,761,211
Adjusted EBIT	$	462,819	$	120,157	$	64,008	$	(10,033)	$	636,951
Special items charge (gain)		(3,060)		11,681		—		6,003		14,624
EBIT	$	465,879	$	108,476	$	64,008	$	(16,036)	$	622,327
Interest income										1,607
Interest expense										(31,107)
Income before income taxes									$	592,827

Total assets	$	2,122,729	$	994,905	$	361,989	$	(299,077)	$	3,180,546
Equity investments in affiliates		5,101		—		—		—		5,101
Capital expenditures		43,003		17,955		10,925		—		71,883
Depreciation and amortization		47,291		20,949		9,819		—		78,059
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		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

(1)	2022 special items reflect Rationalization and asset impairment gains of $431, final settlement gains related to the termination of a pension plan of $3,735 and amortization of step up in value of acquired inventories of $1,106.

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

(2)	2022 special items reflect Rationalization and asset impairment charges of $11,681.

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.

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

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

(4)	2022 special items reflect acquisition transaction and integration costs of $6,003 related acquisitions as discussed in Note 4 to the consolidated financial statements.

2021 special items reflect acquisition transaction and integration costs of $1,923 related acquisitions 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,
	2022		2021		2020
Net sales:
United States	$	2,128,457	$	1,726,498	$	1,431,859
Foreign countries		1,632,754		1,507,682		1,223,541
Total	$	3,761,211	$	3,234,180	$	2,655,400


	December 31,
	2022		2021		2020
Property, plant and equipment, net:
United States	$	267,654	$	262,247	$	247,931
Foreign countries		277,217		249,497		274,214
Eliminations		—		—		(53)
Total	$	544,871	$	511,744	$	522,092