SEGMENT INFORMATION (Tables)

3 Months Ended

Mar. 31, 2023

SEGMENT INFORMATION

Schedule of financial information for the reportable segments

					The Harris
	Americas		International		Products		Corporate /
	Welding		Welding		Group		Eliminations		Consolidated
Three Months Ended March 31, 2023
Net sales	$	658,645	$	252,416	$	128,282	$	—	$	1,039,343
Inter-segment sales		32,318		6,753		2,897		(41,968)		—
Total	$	690,963	$	259,169	$	131,179	$	(41,968)	$	1,039,343
Adjusted EBIT	$	132,453	$	29,598	$	18,983	$	(9,374)	$	171,660
Special items charge (gain) (1)		2,785		302		—		—		3,087
EBIT	$	129,668	$	29,296	$	18,983	$	(9,374)	$	168,573
Interest income										854
Interest expense										(14,055)
Income before income taxes									$	155,372
Three Months Ended March 31, 2022
Net sales	$	534,055	$	258,041	$	133,352	$	—	$	925,448
Inter-segment sales		28,156		6,228		3,062		(37,446)		—
Total	$	562,211	$	264,269	$	136,414	$	(37,446)	$	925,448
Adjusted EBIT	$	111,568	$	37,087	$	19,598	$	(4,801)	$	163,452
Special items charge (gain) (2)		(3,735)		1,347		—		—		(2,388)
EBIT	$	115,303	$	35,740	$	19,598	$	(4,801)	$	165,840
Interest income										376
Interest expense										(6,574)
Income before income taxes									$	159,642

(1) In the three months ended March 31, 2023, special items include amortization of step up in value of acquired inventories of $2,785 and $1,071 in Americas and International Welding, respectively, Rationalization and asset impairment net charges of $877 in International Welding and a gain on disposal of $1,646 in International Welding.

(2) In the three months ended March 31, 2022, special items reflect Rationalization charges of $1,885 in International Welding and the final settlement related to the termination of a pension plan of $3,735 in Americas Welding.