SEGMENT INFORMATION (Tables)

3 Months Ended

Mar. 31, 2025

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, 2025
Net sales	$	653,107	$	219,061	$	132,220	$	—	$	1,004,388
Inter-segment sales		30,372		6,832		3,984		(41,188)		—
Total		683,479		225,893		136,204		(41,188)		1,004,388
Cost of goods sold		417,700		163,442		97,974		(40,176)		638,940
Gross profit		265,779		62,451		38,230		(1,012)		365,448
Other segment expenses (3)		143,716		40,851		14,079		1,440		200,086
EBIT		122,063		21,600		24,151		(2,452)		165,362
Special items charge (1)		2,135		1,412		178		802		4,527
Adjusted EBIT	$	124,198	$	23,012	$	24,329	$	(1,650)	$	169,889
Special items charge (1)										(4,527)
Interest income										2,255
Interest expense										(14,382)
Income before income taxes									$	153,235
Total assets	$	2,445,066	$	1,093,775	$	388,804	$	(302,571)	$	3,625,074
Capital expenditures		21,766		3,608		1,575		—		26,949
Depreciation and amortization		16,114		5,378		2,663		(371)		23,784
Three Months Ended March 31, 2024
Net sales	$	624,099	$	235,761	$	121,337	$	—	$	981,197
Inter-segment sales		29,978		8,408		3,093		(41,479)		—
Total		654,077		244,169		124,430		(41,479)		981,197
Cost of goods sold		388,605		175,047		90,730		(41,584)		612,798
Gross profit		265,472		69,122		33,700		105		368,399
Other segment expenses (3)		129,372		44,415		15,358		11,945		201,090
EBIT	$	136,100	$	24,707	$	18,342	$	(11,840)	$	167,309
Special items charge (2)		—		3,069		1,536		1,762		6,367
Adjusted EBIT	$	136,100	$	27,776	$	19,878	$	(10,078)	$	173,676
Special items charge (2)										(6,367)
Interest income										3,221
Interest expense										(12,000)
Income before income taxes									$	158,530
Total assets	$	2,354,812	$	987,321	$	353,485	$	(315,901)	$	3,379,717
Capital expenditures		21,853		3,423		980		—		26,256
Depreciation and amortization		14,086		5,313		2,426		(239)		21,586

(1) In the three months ended March 31, 2025, special items primarily include Rationalization and asset impairment net charges of $2,135, $1,552 and $178 in Americas Welding, International Welding and The Harris Products Group, respectively, as discussed in Note 6 and Acquisition transaction costs of $802 in Corporate/Eliminations.

(2) In the three months ended March 31, 2024, special items include Rationalization and asset impairment net charges of $3,069 and $1,536 in International Welding and The Harris Products Group, respectively, as discussed in Note 6 and Acquisition transaction costs of $1,762 in Corporate/Eliminations.

(3) Other segment expenses primarily include:

a. Selling, general & administrative expenses – including bonus and research and development expenses.

b. Rationalization and asset impairment net charges – refer to Note 6 for further discussion.