SEGMENT INFORMATION (Tables)

12 Months Ended

Dec. 31, 2023

SEGMENT INFORMATION

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, 2023
Net sales	$	2,655,546	$	1,040,006	$	496,084	$	—	$	4,191,636
Inter-segment sales		127,536		31,498		10,641		(169,675)		—
Total	$	2,783,082	$	1,071,504	$	506,725	$	(169,675)	$	4,191,636
Adjusted EBIT	$	538,269	$	136,497	$	74,144	$	(17,536)	$	731,374
Special items charge (gain)		9,858		(9,721)		—		—		137
EBIT	$	528,411	$	146,218	$	74,144	$	(17,536)	$	731,237
Interest income										6,762
Interest expense										(51,133)
Income before income taxes									$	686,866
Total assets	$	2,365,737	$	1,046,369	$	340,463	$	(375,272)	$	3,377,297
Capital expenditures		61,752		20,568		8,550		117		90,987
Depreciation and amortization		55,821		22,023		9,611		(785)		86,670
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
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		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
Capital expenditures		37,717		16,916		7,898		—		62,531
Depreciation and amortization		49,510		24,998		6,795		(157)		81,146

(1) 2023 special items reflect Rationalization and asset impairment net charges of $468 and amortization of step up in value of acquired inventories of $9,390.

2022 special items reflect Rationalization and asset impairment net 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.

(2) 2023 special items reflect Rationalization and asset impairment net gains of $11,782, amortization of step up in value of acquired inventories of $2,862, gain on asset disposal of $1,646, and pension settlement charges of $845.

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.

(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

	Year Ended December 31,
	2023		2022		2021
Net sales:
United States	$	2,398,560	$	2,128,457	$	1,726,498
Foreign countries		1,793,076		1,632,754		1,507,682
Total	$	4,191,636	$	3,761,211	$	3,234,180

	December 31,
	2023		2022		2021
Property, plant and equipment, net:
United States	$	293,172	$	267,654	$	262,247
Foreign countries		282,144		277,217		249,497
Total	$	575,316	$	544,871	$	511,744