10-Q

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 10-Q

x QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the Quarterly Period Ended June 28, 2013

OR

¨ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from                     to                     

Commission file number - 001-34045

Colfax Corporation

(Exact name of registrant as specified in its charter)

Delaware	54-1887631
(State or other jurisdiction of incorporation or organization)	(I.R.S. Employer Identification Number)
8170 Maple Lawn Boulevard, Suite 180 Fulton, Maryland	20759
(Address of principal executive offices)	(Zip Code)

(301) 323-9000

(Registrant’s telephone number, including area code)

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.    Yes   þ   No  ¨

Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files). Yes   þ  No  ¨

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company. See the definitions of “large accelerated filer,” “accelerated filer” and “smaller reporting company” in Rule 12b-2 of the Exchange Act.

Large accelerated filer þAccelerated filer ¨

Non-accelerated filer ¨(Do not check if a smaller reporting company) Smaller reporting company ¨

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).    Yes  ¨    No  þ

As of June 28, 2013, there were 101,785,010 shares of the registrant’s common stock, par value $.001 per share, outstanding.

TABLE OF CONTENTS

	Page
PART I - FINANCIAL INFORMATION
Item 1. Financial Statements	2
Condensed Consolidated Statements of Operations	2
Condensed Consolidated Statements of Comprehensive Income (Loss)	3
Condensed Consolidated Balance Sheets	4
Condensed Consolidated Statement of Equity	5
Condensed Consolidated Statements of Cash Flows	6
Notes to Condensed Consolidated Financial Statements	7
Note 1. General	7
Note 2. Recently Issued Accounting Pronouncements	8
Note 3. Acquisition	8
Note 4. Net Income (Loss) Per Share	9
Note 5. Income Taxes	10
Note 6. Equity	10
Note 7. Inventories, Net	12
Note 8. Debt	12
Note 9. Accrued Liabilities	13
Note 10. Net Periodic Benefit Cost - Defined Benefit Plans	15
Note 11. Financial Instruments and Fair Value Measurements	15
Note 12. Commitments and Contingencies	18
Note 13. Segment Information	19
Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations	21
Item 3. Quantitative and Qualitative Disclosures About Market Risk	31
Item 4. Controls and Procedures	32
PART II - OTHER INFORMATION
Item 1. Legal Proceedings	33
Item 1A. Risk Factors	33
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds	33
Item 3. Defaults Upon Senior Securities	33
Item 4. Mine Safety Disclosures	33
Item 5. Other Information	33
Item 6. Exhibits	34
SIGNATURES	35

1

PART I - FINANCIAL INFORMATION

Item 1. Financial Statements

COLFAX CORPORATION

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

Dollars in thousands, except per share amounts

(Unaudited)

	Three Months Ended				Six Months Ended
	June 28, 2013		June 29, 2012		June 28, 2013		June 29, 2012
Net sales	$	1,074,118	$	1,045,653	$	2,021,261	$	1,932,019
Cost of sales	736,296		730,791		1,392,714		1,375,451
Gross profit	337,822		314,862		628,547		556,568
Selling, general and administrative expense	221,225		231,992		433,703		444,048
Charter acquisition-related expense	—		766		—		43,617
Restructuring and other related charges	4,477		18,558		8,691		27,201
Asbestos coverage litigation expense	468		3,240		2,174		5,527
Operating income	111,652		60,306		183,979		36,175
Interest expense	18,054		25,741		41,343		44,723
Income (loss) before income taxes	93,598		34,565		142,636		(8,548		)
Provision for income taxes	26,398		15,933		43,161		73,281
Net income (loss)	67,200		18,632		99,475		(81,829		)
Less: income attributable to noncontrolling interest, net of taxes	8,808		6,266		13,448		11,403
Net income (loss) attributable to Colfax Corporation	58,392		12,366		86,027		(93,232		)
Dividends on preferred stock	5,086		5,073		10,168		8,807
Net income (loss) available to Colfax Corporation common shareholders	$	53,306	$	7,293	$	75,859	$	(102,039	)
Net income (loss) per share- basic	$	0.53	$	0.07	$	0.75	$	(1.16	)
Net income (loss) per share- diluted	$	0.52	$	0.07	$	0.74	$	(1.16	)

See Notes to Condensed Consolidated Financial Statements.

2

COLFAX CORPORATION

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS)

Dollars in thousands

(Unaudited)

	Three Months Ended						Six Months Ended
	June 28, 2013			June 29, 2012			June 28, 2013			June 29, 2012
Net income (loss) attributable to Colfax Corporation	$	58,392		$	12,366		$	86,027		$	(93,232	)
Other comprehensive (loss) income:
Foreign currency translation, net of tax of $(475), $136, $(624) and $60	(41,833		)	(111,680		)	(173,953		)	22,330
Unrealized (loss) gain on hedging activities, net of tax of $0, $(463), $(643) and $(192)	(4,339		)	6,028			3,425			(1,959		)
Amounts reclassified to net income (loss):
Realized gain on hedging activities, net of tax of $0, $0, $0 and $0	—			—			—			471
Net pension and other postretirement benefit cost, net of tax of $213, $(35), $354 and $109	2,563			2,133			5,157			4,158
Other comprehensive (loss) income	(43,609		)	(103,519		)	(165,371		)	25,000
Less: other comprehensive loss attributable to noncontrolling interest net of tax of $0, $0, $0 and $0	(8,586		)	(12,271		)	(12,498		)	(1,330		)
Other comprehensive (loss) income attributable to Colfax Corporation	(35,023		)	(91,248		)	(152,873		)	26,330
Comprehensive income (loss) attributable to Colfax Corporation	$	23,369		$	(78,882	)	$	(66,846	)	$	(66,902	)

See Notes to Condensed Consolidated Financial Statements.

3

COLFAX CORPORATION

CONDENSED CONSOLIDATED BALANCE SHEETS

Dollars in thousands, except share amounts

(Unaudited)

	June 28, 2013			December 31, 2012
ASSETS
CURRENT ASSETS:
Cash and cash equivalents	$	587,937		$	482,449
Trade receivables, less allowance for doubtful accounts of $18,649 and $16,464	933,706			873,382
Inventories, net	467,272			493,649
Other current assets	298,026			282,266
Total current assets	2,286,941			2,131,746
Property, plant and equipment, net	661,329			688,570
Goodwill	1,975,824			2,098,836
Intangible assets, net	720,734			779,049
Other assets	449,572			450,086
Total assets	$	6,094,400		$	6,148,287
LIABILITIES AND EQUITY
CURRENT LIABILITIES:
Current portion of long-term debt	$	95,029		$	34,799
Accounts payable	714,406			699,626
Accrued liabilities	439,541			447,220
Total current liabilities	1,248,976			1,181,645
Long-term debt, less current portion	1,410,913			1,693,512
Other liabilities	1,030,445			1,116,844
Total liabilities	3,690,334			3,992,001
Equity:
Preferred stock, $0.001 par value; 20,000,000 shares authorized; 13,877,552 issued and outstanding	14			14
Common stock, $0.001 par value; 400,000,000 shares authorized; 101,785,010 and 94,067,418 issued and outstanding	102			94
Additional paid-in capital	2,526,645			2,197,694
Accumulated deficit	(62,997		)	(138,856		)
Accumulated other comprehensive loss	(299,467		)	(146,594		)
Total Colfax Corporation equity	2,164,297			1,912,352
Noncontrolling interest	239,769			243,934
Total equity	2,404,066			2,156,286
Total liabilities and equity	$	6,094,400		$	6,148,287

See Notes to Condensed Consolidated Financial Statements.

4

COLFAX CORPORATION

CONDENSED CONSOLIDATED STATEMENT OF EQUITY

Dollars in thousands, except share amounts and as noted

(Unaudited)

	Common Stock			Preferred Stock			Additional Paid-In Capital		Accumulated Deficit			Accumulated Other Comprehensive Loss			Noncontrolling Interest			Total
	Shares	$ Amount		Shares	$ Amount
Balance at January 1, 2013	94,067,418	$	94	13,877,552	$	14	$	2,197,694	$	(138,856	)	$	(146,594	)	$	243,934		$	2,156,286
Net income	—	—		—	—		—		86,027			—			13,448			99,475
Distributions to noncontrolling owners	—	—		—	—		—		—			—			(5,115		)	(5,115		)
Preferred stock dividend	—	—		—	—		—		(10,168		)	—			—			(10,168		)
Other comprehensive loss	—	—		—	—		—		—			(152,873		)	(12,498		)	(165,371		)
Common stock issuances, net of costs of $12.0 million	7,500,000	8		—	—		319,890		—			—			—			319,898
Common stock-based award activity	217,592	—		—	—		9,061		—			—			—			9,061
Balance at June 28, 2013	101,785,010	$	102	13,877,552	$	14	$	2,526,645	$	(62,997	)	$	(299,467	)	$	239,769		$	2,404,066

See Notes to Condensed Consolidated Financial Statements.

5

COLFAX CORPORATION

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

Dollars in thousands

(Unaudited)

	Six Months Ended
	June 28, 2013			June 29, 2012
Cash flows from operating activities:
Net income (loss)	$	99,475		$	(81,829	)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Depreciation, amortization and fixed asset impairment charges	65,766			105,027
Stock-based compensation expense	6,147			3,988
Deferred income tax provision	4,622			46,566
Changes in operating assets and liabilities, net of acquisitions:
Trade receivables, net	(86,098		)	(100,930		)
Inventories, net	4,417			(40,464		)
Accounts payable	35,599			12,116
Changes in other operating assets and liabilities	(44,246		)	24,475
Net cash provided by (used in) operating activities	85,682			(31,051		)
Cash flows from investing activities:
Purchases of fixed assets, net	(35,643		)	(41,012		)
Acquisitions, net of cash received	—			(1,661,650		)
Net cash used in investing activities	(35,643		)	(1,702,662		)
Cash flows from financing activities:
Borrowings under term credit facility	50,861			1,731,523
Payments under term credit facility	(274,695		)	(518,849		)
Proceeds from borrowings on revolving credit facilities	182,590			13,149
Repayments of borrowings on revolving credit facilities	(190,187		)	(51,378		)
Payments of deferred loan costs	(2,556		)	(8,516		)
Proceeds from issuance of common stock, net	322,812			753,986
Proceeds from issuance of preferred stock, net	—			332,969
ESAB India repurchase of additional noncontrolling interest	—			(29,291		)
Distributions to noncontrolling owners	(5,115		)	(1,080		)
Contingent payment on acquisition	(3,500		)	—
Payments of dividend on preferred stock	(10,168		)	(7,246		)
Net cash provided by financing activities	70,042			2,215,267
Effect of foreign exchange rates on Cash and cash equivalents	(14,593		)	(17,706		)
Increase in Cash and cash equivalents	105,488			463,848
Cash and cash equivalents, beginning of period	482,449			75,108
Cash and cash equivalents, end of period	$	587,937		$	538,956

See Notes to Condensed Consolidated Financial Statements.

6

COLFAX CORPORATION

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

(Unaudited)

1. General

Colfax Corporation (the “Company” or “Colfax”) is a diversified global industrial manufacturing and engineering company that provides gas- and fluid-handling and fabrication technology products and services to customers around the world under the Howden, ESAB and Colfax Fluid Handling brand names.

The Condensed Consolidated Financial Statements included in this quarterly report have been prepared by the Company in accordance with the rules and regulations of the Securities and Exchange Commission (“SEC”) and accounting principles generally accepted in the United States of America (“GAAP”) for interim financial statements.

The Condensed Consolidated Balance Sheet as of December 31, 2012 is derived from the Company’s audited financial statements. During the three months ended March 29, 2013, adjustments were made retrospectively to provisional amounts recorded as of December 31, 2012, due to the finalization of the valuation of specific tax items related to the acquisition of Charter International plc (“Charter”) by Colfax (the “Charter Acquisition”). See Note 3, “Acquisition” for additional information regarding these adjustments. Certain information and footnote disclosures normally included in financial statements prepared in accordance with GAAP have been omitted in accordance with the SEC’s rules and regulations for interim financial statements. The Condensed Consolidated Financial Statements included herein should be read in conjunction with the audited financial statements and related footnotes included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2012 (the “2012 Form 10-K”), filed with the SEC on February 19, 2013.

The Condensed Consolidated Financial Statements reflect, in the opinion of management, all adjustments, which, except as described above, consist solely of normal recurring adjustments, necessary to present fairly the Company’s financial position and results of operations as of and for the periods indicated. Significant intercompany transactions and accounts are eliminated in consolidation.

The Company makes certain estimates and assumptions in preparing its Condensed Consolidated Financial Statements in accordance with GAAP. These estimates and assumptions affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the Condensed Consolidated Financial Statements and the reported amounts of revenues and expenses for the periods presented. Actual results may differ from those estimates.

During the three months ended March 29, 2013, Venezuela devalued its currency to an official rate of 6.3 bolivar fuerte (“bolivar”) to the U.S. dollar, representing an approximate 32% devaluation of its currency relative to the U.S. dollar. The Company currently considers Venezuela a highly inflationary currency under GAAP. Therefore, financial statements of the Company’s Venezuelan operation have been remeasured into its parent’s reporting currency, the Colombian peso. Exchange gains and losses from the re-measurement of monetary assets and liabilities are reflected in current earnings. Future impacts to earnings of applying highly inflationary accounting for Venezuela on the Company’s Consolidated Financial Statements will be dependent upon movements in the applicable exchange rates between the bolivar and the Colombian peso and the amount of monetary assets and liabilities included in the Company’s Venezuelan operation’s balance sheet. As of and for the six months ended June 28, 2013, the Company’s Venezuelan operation represented less than 1% of the Company’s Total assets and Net sales. The bolivar-denominated monetary net asset position, primarily related to Cash and cash equivalents, was $5.9 million in the Condensed Consolidated Balance Sheet as of June 28, 2013. The devaluation of the bolivar and the change to the Colombian peso as the functional currency resulted in a foreign currency transaction loss of $2.9 million recognized in Selling, general and administrative expense for the three months ended March 29, 2013.

The results of operations for the three and six months ended June 28, 2013 are not necessarily indicative of the results of operations that may be achieved for the full year. Quarterly results are affected by seasonal variations in the Company’s gas- and fluid-handling business. As our gas- and fluid-handling customers seek to fully utilize capital spending budgets before the end of the year, historically our shipments have peaked during the fourth quarter. Also, all of our European operations typically experience a slowdown during the July and August holiday season. General economic conditions may, however, impact future seasonal variations.

7

COLFAX CORPORATION

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS — (Continued)

(Unaudited)

2. Recently Issued Accounting Pronouncements

In March 2013, the Financial Accounting Standards Board issued Accounting Standards Update (“ASU”) No. 2013-05, “Foreign Currency Matters (Topic 830)” (“ASU No. 2013-05”). ASU No. 2013-05 is intended to clarify the parent’s accounting for the cumulative translation adjustment upon the sale or transfer of a group of assets within a consolidated foreign entity. When a parent ceases to have a controlling financial interest in a subsidiary or group of assets within a foreign entity, the parent is required to release any related cumulative translation adjustment into Net income. ASU No. 2013-05 further clarifies the cumulative translation adjustment should be released into Net income only if the sale or transfer results in the complete or substantially complete liquidation of the foreign entity in which the subsidiary or group of assets had resided. ASU No. 2013-05 also clarifies application of this guidance to step acquisitions. ASU No. 2013-05 is effective prospectively for fiscal years beginning after December 15, 2013, with early adoption permitted. The Company will apply the provisions of ASU No. 2013-05 to future sales or transfers of assets of a consolidated foreign entity.

3. Acquisition

Charter International plc

On January 13, 2012, Colfax completed the acquisition of Charter for a total purchase price of approximately $2.6 billion, comprised of $1.9 billion of cash consideration and $0.7 billion fair value of common stock on the date of acquisition. Charter is a global industrial manufacturing company focused on welding, cutting and automation and air and gas handling.

The Charter Acquisition was accounted for using the acquisition method of accounting. The measurement period was completed during the three months ended March 29, 2013. During the measurement period, the Company retrospectively adjusted provisional amounts with respect to the Charter acquisition that were recognized at the acquisition date to reflect new information obtained about facts and circumstances that existed as of the acquisition date that, if known, would have affected the measurement of the amounts recognized as of that date. The aggregate adjustments for the three months ended March 29, 2013 of $23.5 million increased the Goodwill balance and relate to the Company’s valuation of specific tax items.

8

COLFAX CORPORATION

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS - (Continued)

(Unaudited)

4. Net Income (Loss) Per Share

Net income (loss) per share available to Colfax Corporation common shareholders was computed as follows:

	Three Months Ended						Six Months Ended
	June 28, 2013			June 29, 2012			June 28, 2013			June 29, 2012
	(In thousands, except share data)
Computation of Net income (loss) per share - basic:
Net income (loss) available to Colfax Corporation common shareholders	$	53,306		$	7,293		$	75,859		$	(102,039	)
Less: net income attributable to participating securities(1)	(845		)	(931		)	(3,740		)	—
	$	52,461		$	6,362		$	72,119		$	(102,039	)
Weighted-average shares of Common stock outstanding-basic	98,219,835			93,953,620			96,257,214			87,973,900
Net income (loss) per share - basic	$	0.53		$	0.07		$	0.75		$	(1.16	)
Computation of Net income (loss) per share - diluted:
Net income (loss) available to Colfax Corporation common shareholders	$	53,306		$	7,293		$	75,859		$	(102,039	)
Less: net income attributable to participating securities(1)(2)	—			(931		)	(3,740		)	—
Add: dividends on preferred stock(2)	5,086			—			—			—
	$	58,392		$	6,362		$	72,119		$	(102,039	)
Weighted-average shares of Common stock outstanding-basic	98,219,835			93,953,620			96,257,214			87,973,900
Net effect of potentially dilutive securities - stock options and restricted stock units	1,129,832			779,544			1,027,823			—
Net effect of potentially dilutive securities - convertible preferred stock	12,173,291			—			—			—
Weighted-average shares of Common stock outstanding-diluted	111,522,958			94,733,164			97,285,037			87,973,900
Net income (loss) per share - diluted	$	0.52		$	0.07		$	0.74		$	(1.16	)

⁽¹⁾ Net income (loss) per share was calculated consistent with the two-class method in accordance with GAAP through April 23, 2013, as further discussed below.

⁽²⁾ For periods subsequent to April 23, 2013, Net income (loss) per share - dilutive was calculated in accordance with the if-converted method, as further discussed below. However, for the six months ended June 28, 2013, the calculation under this method was anti-dilutive.

On April 23, 2013, the Company and BDT CF Acquisition Vehicle, LLC amended the Certificate for Designations of Series A Perpetual Convertible Preferred Stock of Colfax Corporation to eliminate the right of the Series A Preferred Stock to share proportionately in any dividends or distributions made in respect of the Company’s Common stock. BDT CF Acquisition Vehicle is the sole holder of all issued and outstanding shares of the Company’s Series A Convertible Preferred Stock. For periods prior to April 23, 2013, Net income available to Colfax Corporation common shareholders was allocated to participating securities, while any losses for those periods were not allocated to the participating securities. Effective April 23, 2013, the Company’s Series A Convertible Preferred Stock is no longer considered a participating security. For periods subsequent to April 23, 2013, the Company’s Net income (loss) per share - dilutive is computed using the “if-converted” method. Under the “if-converted” method, Net income (loss) per share - dilutive is calculated under the assumption that the Series A Convertible Preferred Stock have been converted into shares of Common stock as of the beginning of the respective period. For the six months ended June 28, 2013, the weighted-average computation of the dilutive effect of potentially issuable shares of Common stock excludes 12.2 million shares assuming that the Series A Preferred Stock have been converted, as inclusion of such shares would be anti-dilutive.

9

COLFAX CORPORATION

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS - (Continued)

(Unaudited)

The weighted-average computation of the dilutive effect of potentially issuable shares of Common stock under the treasury stock method for the three months ended June 28, 2013 and June 29, 2012 excludes approximately 0.5 million and 1.4 million outstanding stock-based compensation awards, respectively, as their inclusion would be anti-dilutive. The weighted-average computation of the dilutive effect of potentially issuable shares of Common stock under the treasury stock method for the six months ended June 28, 2013 and June 29, 2012 excludes approximately 0.7 million and 2.9 million outstanding stock-based compensation awards, respectively, as their inclusion would be anti-dilutive.

5. Income Taxes

During the three months ended June 28, 2013, Income before income taxes was $93.6 million and the Provision for income taxes was $26.4 million. The effective tax rate of 28.2% for the three months ended June 28, 2013 differs from the U.S. federal statutory rate primarily due to international tax rates, which are lower than the U.S. tax rate, and resolution of a liability for unrecognized tax benefits resulting in a gain of $2.3 million offset in part by losses in certain jurisdictions where a tax benefit is not expected to be recognized in 2013.

During the six months ended June 28, 2013, Income before income taxes was $142.6 million and the Provision for income taxes was $43.2 million. The effective tax rate of 30.3% for the six months ended June 28, 2013 differs from the U.S. federal statutory rate primarily due to international tax rates, which are lower than the U.S. tax rate, and the resolution of a liability for unrecognized tax benefits resulting in a gain of $2.3 million offset in part by losses in certain jurisdictions where a tax benefit is not expected to be recognized in 2013.

During the three months ended June 29, 2012, Income before income taxes was $34.6 million and the Provision for income taxes was $15.9 million. The Provision for income taxes for the three months ended June 29, 2012 was significantly impacted by increased corporate overhead and Interest expense related to the combined organization reflected in the Condensed Consolidated Statement of Operations, which were incurred in jurisdictions where no tax benefit can be recognized.

During the six months ended June 29, 2012, Loss before income taxes was $8.5 million and the Provision for income taxes was $73.3 million. The provision was impacted by two significant items. Upon completion of the Charter Acquisition, certain deferred tax assets existing at that date were reassessed in light of the impact of the acquired businesses on expected future income or loss by country and future tax planning, including the impact of the post-acquisition capital structure. This assessment resulted in an increase in the Company’s valuation allowance to provide full valuation allowances against U.S. deferred tax assets. The increased valuation allowances resulted in an increase to the Provision for income taxes for the six months ended June 29, 2012 of $50.3 million. In addition, $43.6 million of Charter acquisition-related expense and increased corporate overhead and Interest expense reflected in the Condensed Consolidated Statement of Operations are either non-deductible or were incurred in jurisdictions where no tax benefit can be recognized. These two items are the principal cause of tax provision rather than the tax benefit which would result from the application of the U.S. federal statutory rate to the reported net loss.

6. Equity

Common Stock

On May 13, 2013, the Company sold 7,500,000 shares of newly issued Colfax Common stock to underwriters for public resale pursuant to a shelf registration statement for an aggregate purchase price of $331.9 million. In conjunction with this issuance, the Company recognized $12.0 million in equity issuance costs which were recorded as a reduction to Additional paid-in capital during the six months ended June 28, 2013.

Accumulated Other Comprehensive Loss

The following table presents the changes in the balances of each component of Accumulated other comprehensive loss including current period reclassifications out of Accumulated other comprehensive loss for the six months ended June 28, 2013. All amounts are net of tax and noncontrolling interest.

10

COLFAX CORPORATION

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS - (Continued)

(Unaudited)

	Accumulated Other Comprehensive Loss Components
	Net Unrecognized Pension And Other Post-Retirement Benefit Cost			Foreign Currency Translation Adjustment			Unrealized (Loss) Gain On Hedging Activities			Total
	(In thousands)
Beginning Balance	$	(247,332	)	$	104,718		$	(3,980	)	$	(146,594	)
Other comprehensive (loss) income before reclassifications:
Foreign currency translation adjustment	—			(154,230		)	—			(154,230		)
Loss on long-term intra-entity foreign currency transactions	—			(7,299		)	—			(7,299		)
Gain on net investment hedges	—			—			7,263			7,263
Unrealized loss on cash flow hedges	—			—			(3,764		)	(3,764		)
Other comprehensive (loss) income before reclassifications	—			(161,529		)	3,499			(158,030		)
Amounts reclassified from Accumulated other comprehensive loss	5,157			—			—			5,157
Net current period other comprehensive income (loss)	5,157			(161,529		)	3,499			(152,873		)
Ending balance	$	(242,175	)	$	(56,811	)	$	(481	)	$	(299,467	)

The effect on Net income of amounts reclassified out of each component of Accumulated other comprehensive loss for the three and six months ended June 28, 2013 is as follows:

	Three Months Ended June 28, 2013							Six Months Ended June 28, 2013
	Amounts Reclassified From Other Comprehensive Loss		Tax Benefit			Total		Amounts Reclassified From Other Comprehensive Loss		Tax Benefit			Total
	(In thousands)
Pension and other post-retirement benefit cost:
Amortization of net loss (1)	$	2,714	$	(213	)	$	2,501	$	5,387	$	(354	)	$	5,033
Amortization of prior service cost(1)	62		—			62		124		—			124
	$	2,776	$	(213	)	$	2,563	$	5,511	$	(354	)	$	5,157

⁽¹⁾ Included in the computation of net periodic benefit cost. See Note 10, “Net Periodic Benefit Cost - Defined Benefit Plans” for additional details.

During the six months ended June 28, 2013, Noncontrolling interest decreased by $12.5 million due to Other comprehensive loss, primarily due to currency translation adjustment.

11

COLFAX CORPORATION

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS - (Continued)

(Unaudited)

7. Inventories, Net

Inventories, net consisted of the following:

	June 28, 2013			December 31, 2012
	(In thousands)
Raw materials	$	137,859		$	154,771
Work in process	98,945			99,459
Finished goods	252,074			263,211
	488,878			517,441
Less: customer progress billings	(9,839		)	(14,571		)
Less: allowance for excess, slow-moving and obsolete inventory	(11,767		)	(9,221		)
Inventories, net	$	467,272		$	493,649

8. Debt

Long-term debt consisted of the following:

	June 28, 2013			December 31, 2012
	(In thousands)
Term loans	$	1,467,405		$	1,682,177
Revolving credit facilities and other	38,537			46,134
Total Debt	1,505,942			1,728,311
Less: current portion	(95,029		)	(34,799		)
Long-term debt	$	1,410,913		$	1,693,512

On February 22, 2013, the Company entered into the Second Amendment to its credit agreement (the “Deutsche Bank Credit Agreement”), by and among the Company, Colfax UK Holdings Ltd, the other subsidiaries of the Company party thereto, the lenders party thereto and Deutsche Bank AG New York Branch, as administrative agent (the “Second Amendment”). Pursuant to the Second Amendment, the Company amended its credit agreement to, among other things, (i) reallocate the borrowing capacities of the tranches of loans as follows: a $408.7 million term A-1 facility, a $380 million term A-2 facility, a €157.6 million term A-3 facility, a €105.3 million term A-4 facility, a $400 million term B facility and two revolving credit subfacilities which total $500 million in commitments, (ii) provide for an interest rate margin on the term A-1 facility, the term A-2 facility and the revolving credit subfacilities ranging from 0.75% to 1.50% per annum for base rate loans and 1.75% to 2.50% per annum for Eurocurrency rate loans, in each case, determined by the Company’s leverage ratio, (iii) provide for an interest rate margin on the term A-3 facility and the term A-4 facility ranging from 1.50% to 2.25% per annum for base rate loans and 2.50% to 3.25% per annum for Eurocurrency rate loans, in each case, determined by the Company’s leverage ratio and (iv) provide for an interest rate margin on the term B facility of 1.50% per annum for base rate loans and 2.50% per annum for Eurocurrency rate loans. In conjunction with the Second Amendment, the Company recorded a charge to Interest expense in the Condensed Consolidated Statement of Operations for the six months ended June 28, 2013 of $2.6 million to write-off certain deferred financing fees and original issue discount and expensed approximately $0.5 million of costs incurred in connection with the refinancing. The Company had an original issue discount of $44.0 million and deferred financing fees of $16.8 million included in its Condensed Consolidated Balance Sheet as of June 28, 2013, which will be accreted to Interest expense primarily using the effective interest method, over the life of the Deutsche Bank Credit Agreement. As of June 28, 2013, the weighted-average interest rate of borrowings under the amended Deutsche Bank Credit Agreement was 2.62%, excluding accretion of original issue discount, and there was $499.9 million available on the revolving credit subfacilities, including $199.9 million available on a letter of credit subfacility.

The Company is also party to additional letter of credit facilities with total capacity of $572.3 million, of which $332.7 million was outstanding as of June 28, 2013.

As of June 28, 2013, the Company is in compliance with the covenants under the Deutsche Bank Credit Agreement.

12

COLFAX CORPORATION

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS - (Continued)

(Unaudited)

9. Accrued Liabilities

Accrued liabilities in the Condensed Consolidated Balance Sheets consisted of the following:

	June 28, 2013		December 31, 2012
	(In thousands)
Accrued payroll	$	101,911	$	99,583
Advance payment from customers	61,806		61,431
Accrued taxes	61,948		34,165
Accrued asbestos-related liability	63,299		58,501
Warranty liability - current portion	31,142		35,678
Accrued restructuring liability - current portion	13,255		25,406
Accrued third-party commissions	12,638		12,320
Other	93,542		120,136
Accrued liabilities	$	439,541	$	447,220

Warranty Liability

The activity in the Company’s warranty liability consisted of the following:

	Six Months Ended
	June 28, 2013			June 29, 2012
	(In thousands)
Warranty liability, beginning of period	$	40,437		$	2,987
Accrued warranty expense	9,095			8,728
Changes in estimates related to pre-existing warranties	(816		)	511
Cost of warranty service work performed	(10,611		)	(12,139		)
Acquisitions	—			44,476
Foreign exchange translation effect	(1,142		)	(1,695		)
Warranty liability, end of period	$	36,963		$	42,868

Accrued Restructuring Liability

The Company’s restructuring programs include a series of restructuring actions at its fluid-handling operations beginning in 2009 and ongoing initiatives as a result of the Charter Acquisition as well as efforts to reduce the structural costs and rationalize the corporate overhead of the combined businesses.

13

COLFAX CORPORATION

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS - (Continued)

(Unaudited)

A summary of the activity in the Company’s restructuring liability included in Accrued liabilities and Other liabilities in the Condensed Consolidated Balance Sheets is as follows:

	Six Months Ended June 28, 2013
	Balance at Beginning of Period		Provisions		Payments			Foreign Currency Translation			Balance at End of Period(3)
	(In thousands)
Restructuring and other related charges:
Gas and Fluid Handling:
Termination benefits(1)	$	3,060	$	1,465	$	(3,958	)	$	(66	)	$	501
Facility closure costs(2)	1,177		1		(282		)	(15		)	881
Other related charges	—		—		—			—			—
	4,237		1,466		(4,240		)	(81		)	1,382
Fabrication Technology:
Termination benefits(1)	14,637		5,201		(9,858		)	(103		)	$	9,877
Facility closure costs(2)	6,925		1,096		(5,622		)	(6		)	2,393
Other related charges	33		928		(914		)	(45		)	2
	21,595		7,225		(16,394		)	(154		)	12,272
Corporate and Other:
Termination benefits(1)	—		—		—			—			—
Facility closure costs(2)	1,522		—		(118		)	(100		)	1,304
Other related charges	—		—		—			—			—
	1,522		—		(118		)	(100		)	1,304
	$	27,354	$	8,691	$	(20,752	)	$	(335	)	$	14,958

⁽¹⁾ Includes severance and other termination benefits, including outplacement services. The Company recognizes the cost of involuntary

termination benefits at the communication date or ratably over any remaining expected future service period. Voluntary termination benefits

are recognized as a liability and an expense when employees accept the offer and the amount can be reasonably estimated.

⁽²⁾ Includes the cost of relocating associates, relocating equipment and lease termination expense in connection with the closure of facilities.

⁽³⁾ As of June 28, 2013, $13.3 million and $1.7 million of the Company’s restructuring liability was included in Accrued liabilities and Other

liabilities, respectively.

The Company expects to incur Restructuring and other related charges of approximately $20 million during the remainder of 2013 related to these restructuring activities.

14

COLFAX CORPORATION

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS - (Continued)

(Unaudited)

10. Net Periodic Benefit Cost - Defined Benefit Plans

The following table sets forth the components of net periodic benefit cost of the defined benefit pension plans and the Company’s other post-retirement employee benefit plans:

	Three Months Ended						Six Months Ended
	June 28, 2013			June 29, 2012			June 28, 2013			June 29, 2012
	(In thousands)
Pension Benefits-U.S. Plans:
Service cost	$	—		$	—		$	—		$	—
Interest cost	4,450			4,660			8,774			9,345
Expected return on plan assets	(6,228		)	(6,012		)	(12,419		)	(12,043		)
Amortization	1,963			1,854			3,927			3,600
Net periodic benefit cost	$	185		$	502		$	282		$	902
Pension Benefits-Non U.S. Plans:
Service cost	$	862		$	728		$	1,822		$	1,560
Interest cost	11,498			8,147			22,204			16,101
Expected return on plan assets	(8,669		)	(4,732		)	(16,490		)	(9,490		)
Amortization	636			190			1,231			380
Net periodic benefit cost	$	4,327		$	4,333		$	8,767		$	8,551
Other Post-Retirement Benefits:
Service cost	$	28		$	63		$	135		$	102
Interest cost	285			313			457			639
Amortization	177			233			353			466
Net periodic benefit cost	$	490		$	609		$	945		$	1,207

11. Financial Instruments and Fair Value Measurements

The carrying values of financial instruments, including Trade receivables and Accounts payable, approximate their fair values due to their short-term maturities. The estimated fair value of the Company’s debt of $1.5 billion and $1.7 billion as of June 28, 2013 and December 31, 2012, respectively, was based on current interest rates for similar types of borrowings and is in Level Two of the fair value hierarchy. The estimated fair values may not represent actual values of the financial instruments that could be realized as of the balance sheet date or that will be realized in the future.

15

COLFAX CORPORATION

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS - (Continued)

(Unaudited)

A summary of the Company’s assets and liabilities that are measured at fair value for each fair value hierarchy level for the periods presented is as follows:

	June 28, 2013
	Level One		Level Two		Level Three		Total
	(In thousands)
Assets:
Cash equivalents	$	328,536	$	—	$	—	$	328,536
Foreign currency contracts related to sales - designated as hedges	—		4,126		—		4,126
Foreign currency contracts related to sales - not designated as hedges	—		1,889		—		1,889
Foreign currency contracts related to purchases - designated as hedges	—		897		—		897
Foreign currency contracts related to purchases - not designated as hedges	—		2,258		—		2,258
Deferred compensation plans	—		2,684		—		2,684
	$	328,536	$	11,854	—		$	340,390
Liabilities:
Foreign currency contracts related to sales - designated as hedges	$	—	$	4,911	$	—	$	4,911
Foreign currency contracts related to sales - not designated as hedges	—		2,619		—		2,619
Foreign currency contracts related to purchases - designated as hedges	—		762		—		762
Foreign currency contracts related to purchases - not designated as hedges	—		1,809		—		1,809
Deferred compensation plans	—		2,684		—		2,684
Liability for contingent payments	—		—		3,387		3,387
	$	—	$	12,785	$	3,387	$	16,172

	December 31, 2012
	Level One		Level Two		Level Three		Total
	(In thousands)
Assets:
Cash equivalents	$	133,878	$	—	$	—	$	133,878
Foreign currency contracts related to sales - designated as hedges	—		6,832		—		6,832
Foreign currency contracts related to sales - not designated as hedges	—		2,249		—		2,249
Foreign currency contracts related to purchases - designated as hedges	—		213		—		213
Foreign currency contracts related to purchases - not designated as hedges	—		1,077		—		1,077
Deferred compensation plans	—		2,542		—		2,542
	$	133,878	$	12,913	—		$	146,791
Liabilities:
Foreign currency contracts related to sales - designated as hedges	$	—	$	1,024	$	—	$	1,024
Foreign currency contracts related to sales - not designated as hedges	—		1,693		—		1,693
Foreign currency contracts related to purchases - designated as hedges	—		896		—		896
Foreign currency contracts related to purchases - not designated as hedges	—		1,062		—		1,062
Deferred compensation plans	—		2,542		—		2,542
Liability for contingent payments	—		—		6,517		6,517
	$	—	$	7,217	$	6,517	$	13,734

There were no transfers in or out of Level One, Two or Three during the six months ended June 28, 2013.

16

COLFAX CORPORATION

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS - (Continued)

(Unaudited)

Foreign Currency Contracts. As of June 28, 2013 and December 31, 2012, the Company had foreign currency contracts with the following notional values:

	June 28, 2013		December 31, 2012
	(In thousands)
Foreign currency contracts sold - not designated as hedges	$	236,186	$	301,185
Foreign currency contracts sold - designated as hedges	204,397		238,537
Foreign currency contracts purchased - not designated as hedges	188,545		121,741
Foreign currency contracts purchased - designated as hedges	56,238		37,065
Total foreign currency derivatives	$	685,366	$	698,528

The Company recognized the following in its Condensed Consolidated Financial Statements related to its derivative instruments:

	Three Months Ended						Six Months Ended
	June 28, 2013			June 29, 2012			June 28, 2013			June 29, 2012
	(In thousands)
Contracts Designated as Hedges:
Interest Rate Swap:
Realized loss	$	—		$	—		$	—		$	(471	)
Foreign Currency Contracts - related to customer sales contracts:
Unrealized gain (loss)	407			(3,557		)	(590		)	(2,248		)
Realized gain (loss)	386			75			(3,471		)	(680		)
Foreign Currency Contracts - related to supplier purchase contracts:
Unrealized loss	(110		)	(243		)	(1,053		)	(849		)
Realized (loss) gain	(160		)	325			1,501			235
Unrealized gain (loss) on net investment hedges	1,567			9,875			7,263			(4		)
Contracts Not Designated in a Hedge Relationship:
Foreign Currency Contracts - acquisition-related:
Realized loss	—			—			—			(7,177		)
Foreign Currency Contracts - related to customer sales contracts:
Unrealized loss	(1,733		)	(4,856		)	(489		)	(1,620		)
Realized gain (loss)	440			(67		)	(1,972		)	910
Foreign Currency Contracts - related to supplier purchases contracts:
Unrealized gain	1,777			2,719			867			226
Realized (loss) gain	(1,028		)	(151		)	506			(34		)

Liability for Contingent Payments

The Company’s liability for contingent payments represents the fair value of estimated additional cash payments related to its acquisition of COT-Puritech, Inc. in December of 2011, which are subject to the achievement of certain performance goals, and is included in Other liabilities in the Consolidated Balance Sheets. The fair value of the liability for contingent payments represents the present value of probability weighted expected cash flows based upon the Company’s internal model and projections and is included in Level Three of the fair value hierarchy. Accretion is recognized in Interest expense in the Consolidated Statements of Operations and realized or unrealized gains or losses are recognized in Selling, general and administrative expense in the Consolidated Statements of Operations.

17

COLFAX CORPORATION

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS - (Continued)

(Unaudited)

A summary of activity in the Company’s liability for contingent payments during the six months ended June 28, 2013 is as follows:

	(In thousands)
Balance at January 1, 2013	$	6,517
Interest accretion	370
Cash payment	(3,500		)
Balance at June 28, 2013	$	3,387

12. Commitments and Contingencies

For further description of the Company’s litigation and contingencies, reference is made to Note 16, “Commitments and Contingencies” in the Notes to Consolidated Financial Statements in our 2012 Form 10-K.

Asbestos and Other Product Liability Contingencies

Claims activity since December 31 related to asbestos claims is as follows⁽¹⁾:

	Six Months Ended
	June 28, 2013		June 29, 2012
	(Number of claims)
Claims unresolved, beginning of period	23,523		25,281
Claims filed(2)	2,298		2,257
Claims resolved(3)	(3,188	)	(1,998	)
Claims unresolved, end of period	22,633		25,540

⁽¹⁾ Excludes claims filed by one legal firm that have been “administratively dismissed.”

⁽²⁾ Claims filed include all asbestos claims for which notification has been received or a file has been opened.

⁽³⁾ Claims resolved include all asbestos claims that have been settled, dismissed or that are in the process of being settled or dismissed based

upon agreements or understandings in place with counsel for the claimants.

The Company’s Condensed Consolidated Balance Sheets included the following amounts related to asbestos-related litigation:

	June 28, 2013		December 31, 2012
	(In thousands)
Current asbestos insurance asset(1)	$	35,192	$	35,566
Current asbestos insurance receivable(1)	48,147		36,778
Long-term asbestos insurance asset(2)	300,021		315,363
Long-term asbestos insurance receivable(2)	14,482		7,063
Accrued asbestos liability(3)	63,299		58,501
Long-term asbestos liability(4)	359,763		375,493

⁽¹⁾ Included in Other current assets in the Condensed Consolidated Balance Sheets.

⁽²⁾ Included in Other assets in the Condensed Consolidated Balance Sheets.

⁽³⁾ Represents current reserves for probable and reasonably estimable asbestos-related liability cost that the Company believes the subsidiaries

will pay through the next 15 years, overpayments by certain insurers and unpaid legal costs related to defending themselves against

asbestos-related liability claims and legal action against the Company’s insurers, which is included in Accrued liabilities in the Condensed

Consolidated Balance Sheets.

⁽⁴⁾ Included in Other liabilities in the Condensed Consolidated Balance Sheets.

Management’s analyses are based on currently known facts and a number of assumptions. However, projecting future events, such as new claims to be filed each year, the average cost of resolving each claim, coverage issues among layers of insurers, the method in which losses will be allocated to the various insurance policies, interpretation of the effect on coverage of various policy terms and limits and their interrelationships, the continuing solvency of various insurance companies, the amount of remaining insurance available, as well as the numerous uncertainties inherent in asbestos litigation could cause the actual liabilities and

18

COLFAX CORPORATION

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS - (Continued)

(Unaudited)

insurance recoveries to be higher or lower than those projected or recorded which could materially affect the Company’s financial condition, results of operations or cash flow.

The Company is also involved in various other pending legal proceedings arising out of the ordinary course of the Company’s business. None of these legal proceedings are expected to have a material adverse effect on the financial condition, results of operations or cash flow of the Company. With respect to these proceedings and the litigation and claims described in the preceding paragraphs, management of the Company believes that it will either prevail, has adequate insurance coverage or has established appropriate reserves to cover potential liabilities. Any costs that management estimates may be paid related to these proceedings or claims are accrued when the liability is considered probable and the amount can be reasonably estimated. There can be no assurance, however, as to the ultimate outcome of any of these matters, and if all or substantially all of these legal proceedings were to be determined adverse to the Company, there could be a material adverse effect on the financial condition, results of operations or cash flow of the Company.

13. Segment Information

The Company conducts its operations through three operating segments: gas handling, fluid handling and fabrication technology. The gas-handling and fluid-handling operating segments are aggregated into a single reportable segment. A description of the Company’s reportable segments is as follows:

▪ Gas & Fluid Handling - a global supplier of a broad range of gas- and fluid-handling products, including pumps, fluid-handling systems and controls, specialty valves, heavy-duty centrifugal and axial fans, rotary heat exchangers and gas compressors, which serves customers in the power generation, oil, gas and petrochemical, mining, marine (including defense) and general industrial and other end markets; and

▪ Fabrication Technology -a global supplier of welding equipment and consumables, cutting equipment and consumables and automated welding and cutting systems.

Certain amounts not allocated to the two reportable segments and intersegment eliminations are reported under the heading “Corporate and other.” The Company’s management evaluates the operating results of each of its reportable segments based upon Net sales and segment operating income (loss), which represents Operating income before Restructuring and other related charges.

The Company’s segment results were as follows:

	Three Months Ended						Six Months Ended
	June 28, 2013			June 29, 2012			June 28, 2013			June 29, 2012
	(In thousands)
Net sales:
Gas and fluid handling	$	516,763		$	496,495		$	941,868		$	921,826
Fabrication technology	557,355			549,158			1,079,393			1,010,193
	$	1,074,118		$	1,045,653		$	2,021,261		$	1,932,019
Segment operating income (loss)(1):
Gas and fluid handling	$	69,440		$	45,112		$	111,928		$	64,921
Fabrication technology	59,427			45,411			103,895			62,407
Corporate and other	(12,738		)	(11,659		)	(23,153		)	(63,952		)
	$	116,129		$	78,864		$	192,670		$	63,376

⁽¹⁾ The following is a reconciliation of Income (loss) before income taxes to segment operating income:

	Three Months Ended				Six Months Ended
	June 28, 2013		June 29, 2012		June 28, 2013		June 29, 2012
	(In thousands)
Income (loss) before income taxes	$	93,598	$	34,565	$	142,636	$	(8,548	)
Interest expense	18,054		25,741		41,343		44,723
Restructuring and other related charges	4,477		18,558		8,691		27,201
Segment operating income	$	116,129	$	78,864	$	192,670	$	63,376

19

COLFAX CORPORATION

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS - (Continued)

(Unaudited)

The detail of the Company’s Net sales by product type is as follows:

	Three Months Ended				Six Months Ended
	June 28, 2013		June 29, 2012		June 28, 2013		June 29, 2012
	(In thousands)
Gas handling	$	352,084	$	322,566	$	627,531	$	586,162
Fluid handling	164,679		173,929		314,337		335,664
Welding and cutting	557,355		549,158		1,079,393		1,010,193
Total Net sales	$	1,074,118	$	1,045,653	$	2,021,261	$	1,932,019

20

Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations

MANAGEMENT’S DISCUSSION AND ANALYSIS OF

FINANCIAL CONDITION AND RESULTS OF OPERATIONS

The following discussion of the financial condition and results of operations of Colfax Corporation (“Colfax,” “the Company,” “we,” “our,” and “us”) should be read in conjunction with the Condensed Consolidated Financial Statements and related footnotes included in Part I. Item 1.“Financial Statements” of this Quarterly Report on Form 10-Q for the quarterly period ended June 28, 2013 (this “Form 10-Q”) and the ConsolidatedFinancial Statements and related footnotes included in Part II. Item 8. “Financial Statements and Supplementary Data” of our Annual Report on Form 10-K for the year ended December 31, 2012 (the “2012 Form 10-K”) filed with the Securities and Exchange Commission (the “SEC”) on February 19, 2013.

SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS

Some of the statements contained in this Form 10-Q that are not historical facts are forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934 (the “Exchange Act”). We intend such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in Section 21E of the Exchange Act. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date this Form 10-Q is filed with the SEC. All statements other than statements of historical fact are statements that could be deemed forward-looking statements, including statements regarding: projections of revenue, profit margins, expenses, tax provisions and tax rates, earnings or losses from operations, impact of foreign exchange rates, cash flows, pension and benefit obligations and funding requirements, synergies or other financial items; plans, strategies and objectives of management for future operations including statements relating to potential acquisitions, compensation plans or purchase commitments; developments, performance or industry or market rankings relating to products or services; future economic conditions or performance; the outcome of outstanding claims or legal proceedings including asbestos-related liabilities and insurance coverage litigation; potential gains and recoveries of costs; assumptions underlying any of the foregoing; and any other statements that address activities, events or developments that we intend, expect, project, believe or anticipate will or may occur in the future. Forward-looking statements may be characterized by terminology such as “believe,” “anticipate,” “should,” “would,” “intend,” “plan,” “will,” “expect,” “estimate,” “project,” “positioned,” “strategy,” “targets,” “aims,” “seeks,” “sees,” and similar expressions. These statements are based on assumptions and assessments made by our management in light of their experience and perception of historical trends, current conditions, expected future developments and other factors we believe to be appropriate. These forward-looking statements are subject to a number of risks and uncertainties, including but not limited to the following:

• changes in the general economy, as well as the cyclical nature of the markets we serve;

• our ability to identify, finance, acquire and successfully integrate attractive acquisition targets;

• our ability to successfully integrate Charter International plc (“Charter”);

• our exposure to unanticipated liabilities resulting from acquisitions;

• our ability and the ability of our customers to access required capital at a reasonable cost;

• our ability to accurately estimate the cost of or realize savings from our restructuring programs;

• the amount of and our ability to estimate our asbestos-related liabilities;

• the solvency of our insurers and the likelihood of their payment for asbestos-related costs;

• material disruptions at any of our manufacturing facilities;

• noncompliance with various laws and regulations associated with our international operations, including anti-bribery laws, export control regulations and United States (“U.S.”) sanctions and embargoes on certain foreign countries;

• risks associated with our international operations;

• risks associated with the representation of our employees by trade unions and work councils;

21

• our exposure to product liability claims;

• failure to maintain and protect our intellectual property rights;

• the loss of key members of our leadership team;

• restrictions in our credit agreement with Deutsche Bank Securities Inc., HSBC Securities (USA) Inc. and certain other lender parties named therein (the “Deutsche Bank Credit Agreement”) that may limit our flexibility in operating our business;

• impairment in the value of intangible assets;

• the funding requirements or obligations of our defined benefit pension plans and other post-retirement benefit plans;

• significant movements in foreign currency exchange rates;

• availability and cost of raw materials, parts and components used in our products;

• service interruptions, data corruption, cyber-based attacks or network security breaches affecting our information technology infrastructure;

• risks arising from changes in technology;

• the competitive environment in our industry;

• changes in our tax rates or exposure to additional income tax liabilities;

• our ability to manage and grow our business and execution of our business and growth strategies;

• the level of capital investment and expenditures by our customers in our strategic markets;

• our financial performance; and

• other risks and factors, listed in Item 1A. “Risk Factors” in Part I of our 2012 Form 10-K.

Any such forward-looking statements are not guarantees of future performance and actual results, developments and business decisions may differ materially from those envisaged by such forward-looking statements. These forward-looking statements speak only as of the date this Form 10-Q is filed with the SEC. We do not assume any obligation and do not intend to update any forward-looking statement except as required by law. See Part I. Item 1A. “Risk Factors” in our 2012 Form 10-K for a further discussion regarding some of the reasons that actual results may be materially different from those that we anticipate.

Overview

We report our operations through the following reportable segments:

• Gas & Fluid Handling - a global supplier of a broad range of gas- and fluid-handling products, including pumps, fluid-handling systems and controls, specialty valves, heavy-duty centrifugal and axial fans, rotary heat exchangers and gas compressors, which serves customers in the power generation, oil, gas and petrochemical, mining, marine (including defense) and general industrial and other end markets; and

• Fabrication Technology -a global supplier of welding equipment and consumables, cutting equipment and consumables and automated welding and cutting systems.

Certain amounts not allocated to the two reportable segments and intersegment eliminations are reported under the heading “Corporate and other.”

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Colfax has a global geographic footprint, with production facilities in Europe, North America, South America, Asia, Australia and Africa. Through our reportable segments, we serve a global customer base across multiple markets through a combination of direct sales and third-party distribution channels. Our customer base is highly diversified and includes commercial, industrial and government customers.

We employ a comprehensive set of tools that we refer to as the Colfax Business System (“CBS”). CBS, modeled on the Danaher Business System, is our business management system. It is a repeatable, teachable process that we use to create superior value for our customers, shareholders and associates. Rooted in our core values, it is our culture. CBS provides the tools and techniques to ensure that we are continuously improving our ability to meet or exceed customer requirements on a consistent basis.

Results of Operations

The following discussion of Results of Operations addresses the comparison of the periods presented. The Company’s management evaluates the operating results of each of its reportable segments based upon Net sales and segment operating income (loss), which represents Operating income before Restructuring and other related charges.

Items Affecting Comparability of Reported Results

The comparability of our operating results for the second quarter and six months ended June 28, 2013 to the comparable 2012 period is affected by the following additional significant items:

Strategic Acquisitions

We complement our organic growth with strategic acquisitions. Acquisitions can significantly affect our reported results and can complicate period to period comparisons of results. As a consequence, we report the change in our Net sales between periods both from existing and acquired businesses. Orders and order backlog are presented only for the gas- and fluid-handling segment, where this information is relevant. The change in Net sales due to acquisitions represents the change in sales due to the following acquisitions:

On January 13, 2012, Colfax completed the acquisition of Charter (the “Charter Acquisition”) for a total purchase price of approximately $2.6 billion. Charter is a global industrial manufacturing company focused on welding, cutting and automation and air and gas handling. The impact of the additional 12 days of operations is included in the change in Net sales due to acquisitions.

In May 2012, Colfax acquired the remaining 83.7% of CJSC Sibes (“Sibes”) not already owned by its ESAB business for approximately $8.5 million, including the assumption of debt. Sibes is a leading supplier of welding electrodes to customers in Eastern Russia and strengthens ESAB’s position in the attractive Russian welding consumables market, particularly in the energy and natural resources end markets.

On September 13, 2012, Colfax completed the acquisition of the Co-Vent Group Inc. (“Co-Vent”) for $34.6 million. Co-Vent specializes in the custom design, manufacture, and testing of industrial fans, with its primary operations based in Quebec, Canada. As a result of this acquisition, Colfax has expanded its product offerings in the industrial fan market.

On October 31, 2012, Colfax completed the acquisition of approximately 91% of the outstanding common and investment shares of Soldex S.A. (“Soldex”) for approximately $186.1 million. Soldex is organized under the laws of Peru and complements our existing fabrication technology segment by supplying welding products from its plants in Colombia and Peru.

Foreign Currency Fluctuations

A significant portion of our Net sales, approximately 80% and 79% for the three and six months ended June 28, 2013, respectively, is derived from operations outside the U.S., with the majority of those sales denominated in currencies other than the U.S. dollar. Because much of our manufacturing and employee costs are outside the U.S., a significant portion of our costs are also denominated in currencies other than the U.S. dollar. Changes in foreign exchange rates can impact our results of operations and are quantified when significant to our discussion.

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Seasonality

As our gas- and fluid-handling customers seek to fully utilize capital spending budgets before the end of the year, historically our shipments have peaked during the fourth quarter. Also, all of our European operations typically experience a slowdown during the July and August holiday season. General economic conditions may, however, impact future seasonal variations.

Sales, Orders and Backlog

Our consolidated Net sales increased from Net sales of $1,045.7 million in the second quarter of 2012 to $1,074.1 million in the second quarter of 2013. Our Net sales increased from Net sales of $1,932.0 million in the six months ended June 29, 2012 to $2,021.3 million in the six months ended June 28, 2013. The following tables present components of our consolidated Net sales and, for our gas- and fluid-handling segment, order and backlog growth:

	Net Sales					Orders(1)
	$			%		$			%
	(In millions)
For the three months ended June 29, 2012	$	1,045.7				$	534.5
Components of Change:
Existing businesses(2)	(2.7		)	(0.3	)%	(53.6		)	(10.0	)%
Acquisitions(3)	37.4			3.6	%	6.0			1.1	%
Foreign currency translation(4)	(6.3		)	(0.6	)%	(8.7		)	(1.6	)%
	28.4			2.7	%	(56.3		)	(10.5	)%
For the three months ended June 28, 2013	$	1,074.1				$	478.2

	Net Sales					Orders(1)					Backlog at Period End
	$			%		$			%		$			%
	(In millions)
As of and for the six months ended June 29, 2012	$	1,932.0				$	1,032.0				$	1,375.9
Components of Change:
Existing businesses(2)	(26.7		)	(1.4	)%	(75.1		)	(7.3	)%	23.2			1.7	%
Acquisitions(3)	142.6			7.4	%	39.5			3.8	%	21.2			1.5	%
Foreign currency translation(4)	(26.6		)	(1.4	)%	(16.1		)	(1.5	)%	(31.9		)	(2.3	)%
	89.3			4.6	%	(51.7		)	(5.0	)%	12.5			0.9	%
As of and for the six months ended June 28, 2013	$	2,021.3				$	980.3				$	1,388.4

⁽¹⁾ Represents contracts for products or services, net of cancellations for the period, for our gas- and fluid-handling operating segment.

⁽²⁾ Excludes the impact of foreign exchange rate fluctuations and acquisitions, thus providing a measure of growth due to factors such as price,

product mix and volume.

⁽³⁾ Represents the incremental sales, orders and order backlog as a result of our acquisitions of Charter, Soldex and Co-Vent. The impact related to the Charter Acquisition represents 12 days of activity for ESAB and Howden as the acquisition closed on January 13, 2012.

⁽⁴⁾ Represents the difference between prior year sales and orders valued at the actual prior year foreign exchange rates and prior year sales and orders valued at current year foreign exchange rates.

The decrease in Net sales from existing businesses during the second quarter of 2013 compared to the second quarter of 2012 was attributable to a decrease of $20.7 million in our fabrication technology segment, partially offset by an increase of $18.0 million in our gas- and fluid-handling segment. Orders, net of cancellations, from existing businesses for our gas- and fluid-handling segment decreased during the second quarter of 2013 in comparison to the second quarter of 2012 due to declines in the oil, gas and petrochemical, general industrial and other, power generation and mining end markets, partially offset by increased demand in the marine end market.

The decrease in Net sales from existing businesses during the six months ended June 28, 2013 compared to the six months ended June 29, 2012 was attributable to a decrease of $37.6 million in our fabrication technology segment, partially offset by an increase of $10.9 million in our gas- and fluid-handling segment. Orders, net of cancellations, from existing businesses for our gas- and fluid-handling segment decreased during the six months ended June 28, 2013 in comparison to the six months ended June

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29, 2012 due to declines in the oil, gas and petrochemical, general industrial and other and mining end markets, partially offset by increased demand in the power generation and marine end markets.

Business Segments

As discussed further above, the Company reports results in two reportable segments: gas and fluid handling and fabrication technology. The following table summarizes Net sales by reportable segment for each of the following periods:

	Three Months Ended				Six Months Ended
	June 28, 2013		June 29, 2012		June 28, 2013		June 29, 2012
	(In millions)
Gas and Fluid Handling	$	516.8	$	496.5	$	941.9	$	921.8
Fabrication Technology	557.3		549.2		1,079.4		1,010.2
Total Net sales	$	1,074.1	$	1,045.7	$	2,021.3	$	1,932.0

Gas and Fluid Handling

We design, manufacture, install and maintain gas- and fluid-handling products for use in a wide range of markets, including power generation, oil, gas and petrochemical, mining, marine (including defense) and general industrial and other. Our gas-handling products are principally marketed under the Howden brand name. Howden’s primary products are heavy-duty fans, rotary heat exchangers and compressors. The fans and heat exchangers are used in coal-fired and other types of power stations, both in combustion and emissions control applications, underground mines, steel sintering plants and other industrial facilities that require movement of large volumes of air in harsh applications. Howden’s compressors are mainly used in the oil, gas and petrochemical end market. Our fluid-handling products are marketed by Colfax Fluid Handling under a portfolio of brands including Allweiler, Baric, Fairmount Automation, Houttuin, Imo, LSC, COT-Puritech, Portland Valve, Tushaco, Warren and Zenith. Colfax Fluid Handling is a supplier of a broad range of fluid-handling products, including pumps, fluid-handling systems and controls, and specialty valves.

The following table summarizes selected financial data for our gas- and fluid-handling segment:

	Three Months Ended						Six Months Ended
	June 28, 2013			June 29, 2012			June 28, 2013			June 29, 2012
	(Dollars in millions)
Net sales	$	516.8		$	496.5		$	941.9		$	921.8
Gross profit	159.0			148.5			286.0			271.7
Gross profit margin	30.8		%	29.9		%	30.4		%	29.5		%
Restructuring and other related charges	$	0.2		$	3.0		$	1.5		$	3.8
Selling, general and administrative expense	89.1			100.2			171.9			201.3
Selling, general and administrative expense as a percentage of Net sales	17.2		%	20.2		%	18.3		%	21.8		%
Segment operating income	$	69.4		$	45.1		$	111.9		$	64.9
Segment operating income margin	13.4		%	9.1		%	11.9		%	7.0		%

The $18.0 million Net sales increase due to existing businesses during the second quarter of 2013 in comparison to the second quarter of 2012, as discussed and defined under “Sales, Orders and Backlog” above, was primarily due to growth in the power generation, marine and general industrial and other end markets, partially offset by declines in the oil, gas and petrochemical and mining end markets. Additionally, Net sales increased by $4.6 million due to acquisition-related growth, which was partially offset by a decrease of $2.4 million due to changes in foreign exchange rates. Gross profit increased in the second quarter of 2013 reflecting the positive impact of higher volumes and strong cost control activities. Selling, general and administrative expense for the second quarter of 2013 decreased compared to the second quarter of 2012 primarily due to a decrease of $14.5 million in acquisition-related amortization expense.

The $10.9 million Net sales increase due to existing businesses during the six months ended June 28, 2013 in comparison to the six months ended June 29, 2012, as discussed and defined under “Sales, Orders and Backlog” above, was primarily due to growth in the power generation and marine end markets, partially offset by declines in the oil, gas and petrochemical, mining and general industrial and other end markets. Additionally, Net sales increased by $19.8 million due to acquisition-related growth,

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including 12 additional days of activity in Howden, which was partially offset by a decrease of $10.6 million due to changes in foreign exchange rates. Gross profit increased during the six months ended June 28, 2013 reflecting the positive impact of higher volumes and strong cost control activities. Selling, general and administrative expense for the six months ended June 28, 2013 decreased compared to the six months ended June 29, 2012 primarily due to a decrease of $26.8 million in acquisition-related amortization expense. Additionally, $4.4 million of acquisition-related amortization expense was reflected in Gross profit for the six months ended June 29, 2012.

Fabrication Technology

We formulate, develop, manufacture and supply consumable products and equipment for use in the cutting and joining of steels, aluminum and other metals and metal alloys. Our fabrication technology products are principally marketed under the ESAB brand name, which we believe is a leading international welding company with roots dating back to the invention of the welding electrode. ESAB’s comprehensive range of welding consumables includes electrodes, cored and solid wires and fluxes. ESAB’s fabrication technology equipment ranges from portable units to large custom systems. Products are sold into a wide range of end markets, including wind power, shipbuilding, pipelines, mobile/off-highway equipment and mining.

The following table summarizes selected financial data for our fabrication technology segment:

	Three Months Ended						Six Months Ended
	June 28, 2013			June 29, 2012			June 28, 2013			June 29, 2012
	(Dollars in millions)
Net sales	$	557.3		$	549.2		$	1,079.4		$	1,010.2
Gross profit	178.8			166.4			342.5			284.9
Gross profit margin	32.1		%	30.3		%	31.7		%	28.2		%
Restructuring and other related charges	$	4.3		$	13.0		$	7.2		$	19.1
Selling, general and administrative expense	119.5			121.0			238.7			222.5
Selling, general and administrative expense as a percentage of Net sales	21.4		%	22.0		%	22.1		%	22.0		%
Segment operating income	$	59.4		$	45.4		$	103.9		$	62.4
Segment operating income margin	10.7		%	8.3		%	9.6		%	6.2		%

The $8.1 million sales increase during the second quarter of 2013 compared to the second quarter of 2012 was primarily the result of acquisition-related growth of $32.8 million. The $20.7 million sales decline due to existing businesses during the second quarter of 2013 in comparison to the second quarter of 2012, as discussed and defined under “Sales, Orders and Backlog” above, was primarily the result of decreases in consumable volumes in Europe, Asia and North America. In the second quarter of 2013, Gross profit and gross profit margin were favorably impacted by the fixed costs eliminated by several manufacturing site closings in late 2012 and the higher gross profit margins at Soldex.

The $69.2 million sales increase during the six months ended June 28, 2013 compared to the six months ended June 29, 2012 was primarily the result of acquisition-related growth of $122.9 million, including 12 additional days of activity in ESAB. The $37.6 million sales decline due to existing businesses during the six months ended June 28, 2013 in comparison to the six months ended June 29, 2012, as discussed and defined under “Sales, Orders and Backlog” above, was primarily the result of decreases in consumable volumes in Europe, Asia and North America. Gross profit and gross profit margin for the six months ended June 29, 2012 were impacted by acquisition-related amortization expense of $17.0 million. In the six months ended June 28, 2013, Gross profit and gross profit margin were favorably impacted by the fixed costs eliminated by several manufacturing site closings in late 2012 and the higher gross profit margins at Soldex. Additionally, Selling, general and administrative expense increased by $17.3 million due to the acquisition of Soldex. This amount includes the impact of the devaluation of the Venezuelan bolivar fuerte, which resulted in a foreign currency transaction loss of $2.9 million recognized in Selling, general and administrative expense for the six months ended June 28, 2013. Selling, general and administrative expense was also impacted by the inclusion of an additional 12 days of operations in 2013 compared to the six months ended June 29, 2012. See Note 1, “General” in the accompanying Notes to Condensed Consolidated Financial Statements included in this Form 10-Q for additional discussion regarding the devaluation of the Venezuelan bolivar fuerte.

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Gross Profit - Total Company

	Three Months Ended						Six Months Ended
	June 28, 2013			June 29, 2012			June 28, 2013			June 29, 2012
	(In millions)
Gross profit	$	337.8		$	314.9		$	628.5		$	556.6
Gross profit margin	31.5		%	30.1		%	31.1		%	28.8		%

The $22.9 million increase in Gross profit during the second quarter of 2013 in comparison to the second quarter of 2012 was attributable to increases of $10.5 million in our gas- and fluid-handling segment and $12.4 million in our fabrication technology segment. Gross profit and gross profit margin increased during the second quarter of 2013 primarily due to the impact of our cost reduction efforts. Changes in foreign exchange rates during the second quarter of 2013 had a $2.4 million negative impact on Gross profit in comparison to the second quarter of 2012.

The $71.9 million increase in Gross profit during the six months ended June 28, 2013 in comparison to the six months ended June 29, 2012 was attributable to increases of $14.3 million in our gas- and fluid-handling segment and $57.6 million in our fabrication technology segment. Gross profit and gross profit margin increased during the six months ended June 28, 2013 due to $21.4 million of acquisition-related inventory step-up expense incurred in the six months ended June 29, 2012. The improvement in gross profit margin during the period was also due to the impact of our cost reduction efforts. Changes in foreign exchange rates during the six months ended June 28, 2013 had a $6.4 million negative impact on Gross profit in comparison to the six months ended June 29, 2012.

Operating Expenses - Total Company

	Three Months Ended						Six Months Ended
	June 28, 2013			June 29, 2012			June 28, 2013			June 29, 2012
	(Dollars in millions)
Selling, general and administrative expense	$	221.2		$	232.0		$	433.7		$	444.0
Selling, general and administrative expense as a percentage of Net sales	20.6		%	22.2		%	21.5		%	23.0		%
Charter acquisition-related expense	—			0.8			—			43.6
Restructuring and other related charges	4.5			18.6			8.7			27.2
Asbestos coverage litigation expense	0.5			3.2			2.2			5.5

Selling, general and administrative expense decreased $10.8 million during the second quarter of 2013 in comparison to the second quarter of 2012 primarily due to a decrease in acquisition-related amortization expense of $14.5 million, partially offset by the increase in expenses resulting from the acquisition of Soldex. Restructuring and other related charges decreased in the second quarter of 2013 in comparison to the second quarter of 2012 primarily as a result of several substantial cost reduction programs in the fabrication technology segment. Additionally, Asbestos coverage litigation expense decreased in the second quarter of 2013 because in the second quarter of 2012 significant costs were incurred for the preparation of our appeals submissions related to a case decided by the trial court during 2011 and for depositions and preparation for a trial related to another subsidiary’s coverage which was conducted in the fourth quarter of 2012.

Selling, general and administrative expense decreased $10.3 million during the six months ended June 28, 2013 in comparison to the six months ended June 29, 2012, primarily due to a decrease in acquisition-related amortization expense of $26.8 million, partially offset by the increase in expenses resulting from the additional 12 days of operations related to the entities acquired as part of the Charter Acquisition and the acquisition of Soldex. During the six months ended June 29, 2012, we incurred $43.6 million of advisory, legal, valuation and other professional service fees and realized losses on acquisition-related foreign exchange derivatives in connection with the Charter Acquisition. Restructuring and other related charges decreased in the six months ended June 28, 2013 in comparison to the six months ended June 29, 2012 primarily as a result of the completion of several substantial cost reduction programs in the fabrication technology segment. Additionally, Asbestos coverage litigation expense decreased in the six months ended June 28, 2013 because in the six months ended June 29, 2012 significant costs were incurred for the preparation of our appeals submissions related to a case decided by the trial court during 2011 and for depositions and preparation for a trial related to another subsidiary’s coverage which was conducted in the fourth quarter of 2012.

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Interest Expense - Total Company

	Three Months Ended				Six Months Ended
	June 28, 2013		June 29, 2012		June 28, 2013		June 29, 2012
	(In millions)
Interest expense	$	18.1	$	25.7	$	41.3	$	44.7

The decrease in Interest expense during the second quarter of 2013 in comparison to the second quarter of 2012 was attributable primarily to the favorable impact of lower borrowing rates associated with the Second Amendment to the Deutsche Bank Credit Agreement, as defined and further discussed under “—Liquidity and Capital Resources—Borrowing Arrangements” below.

The decrease in Interest expense during the six months ended June 28, 2013 in comparison to the six months ended June 29, 2012 was attributable primarily to the favorable impact of lower borrowing rates, partially offset by $3.1 million of charges related to the Second Amendment to the Deutsche Bank Credit Agreement, as defined and further discussed under “—Liquidity and Capital Resources—Borrowing Arrangements” below. In addition, significant borrowings related to the Charter Acquisition were made throughout January 2012, whereas no significant new borrowings have been made in 2013.

Provision for Income Taxes - Total Company

The effective income tax rate for the second quarter of 2013 was 28.2% compared to an effective tax rate of 46.1% during the second quarter of 2012. Our effective income tax rate for the second quarter of 2013 was lower than the U.S. federal statutory tax rate primarily due to foreign earnings where international tax rates are lower than the U.S. tax rate and the resolution of a liability for unrecognized tax benefits resulting in a gain of $2.3 million, offset in part by losses in certain jurisdictions where a tax benefit is not expected to be recognized in 2013. Our effective income tax rate for the second quarter of 2012 was significantly impacted by increased corporate overhead and Interest expense related to the combined organization, which was incurred in jurisdictions where no tax benefit can be recognized.

The effective tax rate for the six months ended June 28, 2013 was 30.3%, which was lower than the U.S. federal statutory tax rate primarily due to foreign earnings where international tax rates are lower than the U.S. tax rate and the resolution of a liability for unrecognized tax benefits resulting in a gain of $2.3 million, offset in part by losses in certain jurisdictions where a tax benefit is not expected to be recognized in 2013.

During the six months ended June 29, 2012, Loss before income taxes was $8.5 million and the Provision for income taxes was $73.3 million. The Provision for income taxes was impacted by two significant items. Upon completion of the Charter Acquisition, certain deferred tax assets existing at that date were reassessed in light of the impact of the acquired businesses on expected future income or loss by country and future tax planning, including the impact of the post-acquisition capital structure. This assessment resulted in an increase in our valuation allowance to provide full valuation allowances against U.S. deferred tax assets. The increased valuation allowances resulted in a non-cash increase to the income tax provision for the six months ended June 29, 2012 of $50.3 million. In addition, $43.6 million of Charter acquisition-related expense reflected in the Condensed Consolidated Statement of Operations are either non-deductible or were incurred in jurisdictions where no tax benefit can be recognized. These two items are the principal cause of tax provision rather than the tax benefit which would result from the application of the U.S. federal statutory rate to the reported net loss.

Liquidity and Capital Resources

Overview

Historically, we have financed our capital and working capital requirements through a combination of cash flows from operating activities, borrowings under our bank credit facilities and the issuances of equity. We expect that our primary ongoing requirements for cash will be for working capital, funding of acquisitions, capital expenditures, asbestos-related cash outflows and funding of our pension plans. If additional funds are needed for strategic acquisitions or other corporate purposes, we believe we could raise additional funds in the form of debt or equity.

Equity Capital

On May 13, 2013, the Company sold 7,500,000 shares of newly issued Colfax Common stock to underwriters for public resale pursuant to a shelf registration statement for an aggregate purchase price of $331.9 million. In conjunction with this issuance, the

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Company recognized $12.0 million in equity issuance costs which were recorded as a reduction to Additional paid-in capital during the six months ended June 28, 2013.

Borrowing Arrangements

On February 22, 2013, Colfax entered into the Second Amendment to the Deutsche Bank Credit Agreement, as amended, by and among the Company, Colfax UK Holdings Ltd, the other subsidiaries of the Company party thereto, the lenders party thereto and Deutsche Bank AG New York Branch, as administrative agent (the “Second Amendment”). Pursuant to the Second Amendment, the Company amended its credit agreement to, among other things, (i) reallocate the borrowing capacities of the tranches of loans as follows: a $408.7 million term A-1 facility, a $380 million term A-2 facility, a €157.6 million term A-3 facility, a €105.3 million term A-4 facility, a $400 million term B facility and two revolving credit subfacilities which total $500 million in commitments, (ii) provide for an interest rate margin on the term A-1 facility, the term A-2 facility and the revolving credit subfacilities ranging from 0.75% to 1.50% per annum for base rate loans and 1.75% to 2.50% per annum for Eurocurrency rate loans, in each case, determined by the Company’s leverage ratio, (iii) provide for an interest rate margin on the term A-3 facility and the term A-4 facility ranging from 1.50% to 2.25% per annum for base rate loans and 2.50% to 3.25% per annum for Eurocurrency rate loans, in each case, determined by the Company’s leverage ratio and (iv) provide for an interest rate margin on the term B facility of 1.50% per annum for base rate loans and 2.50% per annum for Eurocurrency rate loans. Other amendments and modifications are more fully set forth in the full text of the Second Amendment. In conjunction with the modification to our debt in the Second Amendment, the Company recorded a charge to Interest expense of $2.6 million to write-off certain deferred financing fees and original issue discount and expensed approximately $0.5 million of costs incurred in connection with the refinancing. The Company had an original issue discount of $44.0 million and deferred financing fees of $16.8 million subsequent to the debt modification which will be accreted to Interest expense primarily using the effective interest method, over the life of the amended Deutsche Bank Credit Agreement. As of June 28, 2013, the weighted-average interest rate of borrowings under the amended Deutsche Bank Credit Agreement was 2.62%, excluding accretion of original issue discount, and there was $499.9 million available on the revolving credit subfacilities, including $199.9 million available on a letter of credit subfacility.

The Company is also party to additional letter of credit facilities with total capacity of $572.3 million, of which $332.7 million was outstanding as of June 28, 2013.

In connection with the Second Amendment, the Company has pledged substantially all of its domestic subsidiaries’ assets and 65% of the shares of certain first tier international subsidiaries as collateral against borrowings to its U.S. companies. In addition, subsidiaries in certain foreign jurisdictions have guaranteed the Company’s obligations on borrowings of one of its European subsidiaries, as well as pledged substantially all of their assets for such borrowings to this European subsidiary under the Deutsche Bank Credit Agreement. The Deutsche Bank Credit Agreement contains customary covenants limiting the Company’s ability to, among other things, pay dividends, incur debt or liens, redeem or repurchase equity, enter into transactions with affiliates, make investments, merge or consolidate with others or dispose of assets. In addition, the Deutsche Bank Credit Agreement contains financial covenants requiring the Company to maintain a total leverage ratio, as defined therein, of not more than 4.95 to 1.0 and a minimum interest coverage ratio, as defined therein, of 2.25 to 1.0, measured at the end of each quarter, through the year ended December 31, 2013. The minimum interest coverage ratio increases by 25 basis points each year until it reaches 3.0 to 1.0 for the year ended December 31, 2016. The maximum total leverage ratio decreases to 4.75 to 1.0 for the year ended December 31, 2014 and decreases by 25 basis points for the two subsequent fiscal years until it reaches 4.25 to 1.0 for the year ended December 31, 2016. The Deutsche Bank Credit Agreement contains various events of default, including failure to comply with such financial covenants, and upon an event of default the lenders may, subject to various customary cure rights, require the immediate payment of all amounts outstanding under the term loans and the revolving credit subfacilities and foreclose on the collateral. There were no material changes to the covenants in the Second Amendment to the Deutsche Bank Credit Agreement. The Company is in compliance with all such covenants as of June 28, 2013. We believe that our sources of liquidity, including the Deutsche Bank Credit Agreement, are adequate to fund our operations for the next twelve months.

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Cash Flows

As of June 28, 2013, we had $587.9 million of Cash and cash equivalents, an increase of $105.5 million from $482.4 million as of December 31, 2012. The following table summarizes the change in Cash and cash equivalents during the periods indicated:

	Six Months Ended
	June 28, 2013			June 29, 2012
	(In millions)
Net cash provided by (used in) operating activities	$	85.7		$	(31.1	)
Purchases of fixed assets, net	(35.6		)	(41.0		)
Acquisitions, net of cash received	—			(1,661.7		)
Net cash used in investing activities	(35.6		)	(1,702.7		)
(Repayments) proceeds from borrowings, net	(231.4		)	1,174.4
Proceeds from issuance of common stock, net	322.8			754.0
Proceeds from issuance of preferred stock, net	—			333.0
Other uses, net	(21.4		)	(46.1		)
Net cash provided by financing activities	70.0			2,215.3
Effect of exchange rates on cash and cash equivalents	(14.6		)	(17.7		)
Increase in cash and cash equivalents	$	105.5		$	463.8

Cash flows from operating activities can fluctuate significantly from period to period due to changes in working capital and the timing of payments for items such as pension funding and asbestos-related costs. Changes in significant operating cash flow items are discussed below.

• Net cash received or paid for asbestos-related costs, net of insurance proceeds, including the disposition of claims, defense costs and legal expenses related to litigation against our insurers, creates variability in our operating cash flows. We had net cash outflows of $26.8 million and $21.1 million during the six months ended June 28, 2013 and June 29, 2012, respectively.

• Funding requirements of our defined benefit plans, including pension plans and other post-retirement benefit plans, can vary significantly from period to period due to changes in the fair value of plan assets and actuarial assumptions. For the six months ended June 28, 2013 and June 29, 2012, cash contributions for defined benefit plans were $26.5 million and $39.2 million, respectively. The six months ended June 29, 2012 included $18.9 million of supplemental contributions to pension plans in the United Kingdom as a result of the financing of the Charter Acquisition.

• During the six months ended June 28, 2013 and June 29, 2012, cash payments of $20.8 million and $22.2 million, respectively, were made related to our restructuring initiatives. Additionally, during the six months ended June 29, 2012 cash payments of approximately $44.3 million were made for advisory, legal, valuation and other professional service fees related to the Charter Acquisition.

• Changes in net working capital also affected the operating cash flows for the periods presented. We define working capital as Trade receivables, net and Inventories, net reduced by Accounts payable. During the six months ended June 28, 2013, net working capital increased, primarily due to an increase in receivables partially offset by an increase in payables and a decrease in inventory levels, which decreased our cash flows from operating activities. These fluctuations are in line with typical seasonal trends. During the six months ended June 29, 2012, net working capital increased, primarily due to an increase in inventory and receivable levels, which reduced our cash flows from operating activities.

There were significant investing activities associated with the Charter Acquisition. The cash cost of the Charter Acquisition, net of cash acquired, was approximately $1.7 billion completed in the six months ended June 29, 2012.

Cash flows from financing activities for the six months ended June 28, 2013 were impacted by the Second Amendment to the Deutsche Bank Credit Agreement further discussed above under “—Borrowing Arrangements” and the May 2013 sale of newly issued Common stock further discussed above under “—Equity Capital.” The sale of our Common stock in May 2013 generated $319.9 million cash inflows from financing activities.

30

Cash flows from financing activities for the six months ended June 29, 2012 were significantly impacted by the Charter Acquisition. We raised $805.0 million of cash from sales of our equity securities to BDT CF Acquisition Vehicle, LLC (the “BDT Investor”), Steven and Mitchell Rales, and Markel Corporation (“Markel”). Mitchell P. Rales, Chairman of Colfax’s Board of Directors, and his brother Steven M. Rales, were each beneficial owners of 20.9% of Colfax’s Common stock at the time of the sale. Thomas S. Gayner, a member of Colfax’s Board of Directors, is President and Chief Investment Officer of Markel. We borrowed approximately $1.8 billion of term loans, $65.8 million of which was repaid in the six months ended June 29, 2012. The additional payment of borrowings under term loans of $455 million primarily represent the repayment of borrowings under our Bank of America Credit Agreement, in conjunction with the financing of the Charter Acquisition.

Additionally, financing activities for the six months ended June 29, 2012 included $293 million raised in a primary offering of our Common stock settled in March 2012.

Our Cash and cash equivalents as of June 28, 2013 includes $298.9 million held in jurisdictions outside the U.S., which may be subject to tax penalties if repatriated into the U.S. and other restrictions.

Critical Accounting Policies

The methods, estimates and judgments that we use in applying our critical accounting policies have a significant impact on our results of operations and financial position. We evaluate our estimates and judgments on an ongoing basis. Our estimates are based upon our historical experience, our evaluation of business and macroeconomic trends and information from other outside sources, as appropriate. Our experience and assumptions form the basis for our judgments about the carrying value of assets and liabilities that are not readily apparent from other sources. Actual results may vary from what our management anticipates and different assumptions or estimates about the future could have a material impact on our results of operations and financial position. There have been no significant additions to the methods, estimates and judgments included in “Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations—Critical Accounting Policies” in our 2012 Form 10-K.

Item 3. Quantitative and Qualitative Disclosures About Market Risk

We are exposed to market risk from changes in short-term interest rates, foreign currency exchange rates and commodity prices that could impact our results of operations and financial condition. We address our exposure to these risks through our normal operating and financing activities.

Interest Rate Risk

We are subject to exposure from changes in short-term interest rates related to interest payments on our borrowing arrangements. Under the Deutsche Bank Credit Agreement, all of our borrowings as of June 28, 2013 are variable rate facilities based on LIBOR or EURIBOR. In order to mitigate our interest rate risk, we periodically enter into interest rate swap or collar agreements. A hypothetical increase in the interest rate of 1.00% during the second quarter and six months ended June 28, 2013 would have increased Interest expense by approximately $4.1 million and $8.3 million, respectively.

Exchange Rate Risk

We have manufacturing sites throughout the world and sell our products globally. As a result, we are exposed to movements in the exchange rates of various currencies against the U.S. dollar and against the currencies of other countries in which we manufacture and sell products and services. During the second quarter and six months ended June 28, 2013, approximately 80% and 79%, respectively, of our sales were derived from operations outside the U.S. We have significant manufacturing operations in European countries that are not part of the Eurozone. Sales revenues are more highly weighted toward the Euro and U.S. dollar. We also have significant contractual obligations in U.S. dollars that are met with cash flows in other currencies as well as U.S. dollars. To better match revenue and expense as well as cash needs from contractual liabilities, we regularly enter into cross currency swaps and forward contracts.

We also face exchange rate risk from our investments in subsidiaries owned and operated in foreign countries. The euro denominated term A-3 and term A-4 facilities under the Deutsche Bank Credit Agreement (the “Term Loans A-3 and A-4”), provide a natural hedge to a portion of our European net asset position. See Note 8, “Debt” in our Notes to Condensed Consolidated Financial Statements included in this Form 10-Q for additional information regarding our debt facilities. The effect of a change in currency exchange rates on our net investment in international subsidiaries, net of the translation effect of the Company’s Term Loans A-3 and A-4, is reflected in the Accumulated other comprehensive loss component of Equity. A 10% depreciation in major

31

currencies, relative to the U.S. dollar as of June 28, 2013 (net of the translation effect of our Term Loans A-3 and A-4) would result in a reduction in Equity of approximately $150 million.

We also face exchange rate risk from transactions with customers in countries outside the U.S. and from intercompany transactions between affiliates. Although we use the U.S dollar as our functional currency for reporting purposes, we have manufacturing sites throughout the world, and a substantial portion of our costs are incurred and sales are generated in foreign currencies. Costs incurred and sales recorded by subsidiaries operating outside of the U.S. are translated into U.S. dollars using exchange rates effective during the respective period. As a result, we are exposed to movements in the exchange rates of various currencies against the U.S. dollar. In particular, the Company has more sales in European currencies than it has expenses in those currencies. Although a significant portion of this difference is hedged, when European currencies strengthen or weaken against the U.S. dollar, operating profits are increased or decreased, respectively.

We have generally accepted the exposure to exchange rate movements without using derivative financial instruments to manage this risk. Both positive and negative movements in currency exchange rates against the U.S. dollar will, therefore, continue to affect the reported amount of sales, profit, assets and liabilities in our Consolidated Financial Statements.

Commodity Price Risk

We are exposed to changes in the prices of raw materials used in our production processes. Commodity futures contracts are periodically used to manage such exposure. As of June 28, 2013, we had no open commodity futures contracts.

See Note 11, “Financial Instruments and Fair Value Measurements” in our Notes to Condensed Consolidated Financial Statements included in this Form 10-Q for additional information regarding our derivative instruments.

Item 4. Controls and Procedures

Evaluation of Disclosure Controls and Procedures

Under the supervision and with the participation of our management, including our Chief Executive Officer and Chief Financial Officer, we have evaluated the effectiveness of our disclosure controls and procedures as defined in Rule 13a-15(e) under the Securities Exchange Act of 1934, as amended (the “Exchange Act”), as of June 28, 2013. Based upon that evaluation, our Chief Executive Officer and Chief Financial Officer concluded that the Company’s disclosure controls and procedures were effective in providing reasonable assurance that the information required to be disclosed in this report on Form 10-Q has been recorded, processed, summarized and reported as of the end of the period covered by this report on Form 10-Q.

Disclosure controls and procedures include, without limitation, controls and procedures designed to ensure that information required to be disclosed by us in reports we file or submit under the Exchange Act is recorded, processed, summarized and reported within the time periods specified in the Securities and Exchange Commission’s rules and forms, and that such information is accumulated and communicated to our management, including our Chief Executive Officer and Chief Financial Officer, as appropriate, to allow timely decisions regarding required disclosure.

Changes in Internal Control over Financial Reporting

There was no change in our internal control over financial reporting (as defined in Rule 13a-15(f)) identified in connection with the evaluation required by Rule 13a-15(d) of the Exchange Act that occurred during the period covered by this report that has materially affected, or is reasonably likely to materially affect, our internal control over financial reporting.

32

PART II - OTHER INFORMATION

Item 1. Legal Proceedings

Discussion of legal proceedings is incorporated by reference to Note 12, “Commitments and Contingencies,” in the Notes to Condensed Consolidated Financial Statements included in Part I. Item 1. “Financial Statements” of this Form 10-Q.

Item 1A. Risk Factors

An investment in our common stock involves a high degree of risk. There have been no material changes to the risk factors included in “Part I. Item 1A. Risk Factors” in our 2012 Form 10-K.

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds

None.

Item 3. Defaults Upon Senior Securities

None.

Item 4. Mine Safety Disclosures

None.

Item 5. Other Information

None.

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Item 6. Exhibits

Exhibit No.	Exhibit Description
3.01*	Amended and Restated Certificate of Incorporation.
3.02**	Colfax Corporation Amended and Restated Bylaws.
3.03***	Amended and Restated Certificate of Designations of Series A Perpetual Convertible Preferred Stock.
10.01****	Service Agreement between Howden Group Ltd. and Ian Brander dated December 3, 2010
31.01	Certification of Chief Executive Officer pursuant to Rule 13a-14(a) under the Securities Exchange Act of 1934 as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.
31.02	Certification of Chief Financial Officer pursuant to Rule 13a-14(a) under the Securities Exchange Act of 1934 as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.
32.01	Certification of Chief Executive Officer pursuant to 18 U.S.C. Section 1350 as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.
32.02	Certification of Chief Financial Officer pursuant to 18 U.S.C. Section 1350 as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.
101.INS*****	XBRL Instance Document
101.SCH*****	XBRL Taxonomy Extension Schema Document
101.CAL*****	XBRL Extension Calculation Linkbase Document
101.DEF*****	XBRL Taxonomy Extension Definition Linkbase Document
101.LAB*****	XBRL Taxonomy Extension Label Linkbase Document
101.PRE*****	XBRL Taxonomy Extension Presentation Linkbase Document
* Incorporated by reference to Exhibit 3.01 to Colfax Corporation’s Form 8-K (File No. 001-34045) as filed with the SEC on January 30, 2012.
** Incorporated by reference to Exhibit 3.2 to Colfax Corporation’s Form 8-K (File No. 001-34045) as filed with the SEC on May 8, 2008.
*** Incorporated by reference to Exhibit 3.03 to Colfax Corporation’s Form 10-Q (File No. 001-34045) as filed with the SEC on April 25, 2013.
**** This agreement is being filed at this time due to the registrant reporting during the period covered by this report that Mr. Brander is a named executive officer of the registrant for the fiscal year ended December 31, 2012.
***** In accordance with Rule 406T of Regulation S-T, the XBRL related information in Exhibit 101 to this Quarterly Report on Form 10-Q shall not be deemed to be “filed” for purposes of Section 18 of the Exchange Act, or otherwise subject to the liability of that section, and shall not be incorporated by reference into any registration statement or other document filed under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such filing.

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SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

Registrant:     Colfax Corporation

By:

/s/ STEVEN E. SIMMS     President and Chief Executive Officer

Steven E. Simms        (Principal Executive Officer)            July 25, 2013

/s/ C. SCOTT BRANNAN     Senior Vice President, Finance and

C. Scott Brannan        Chief Financial Officer

(Principal Financial and Accounting Officer)        July 25, 2013

35

EX-10.01****

2

MANAGEMENT SERVICES CONTRACT

DATED 3 December 2010

………………..

BETWEEN

HOWDEN GROUP LTD

- and -

IAN BRANDER

_______________________________

SERVICE AGREEMENT

_______________________________

THIS AGREEMENT is made on the 3 December 2010

BETWEEN:-

(1) HOWDEN GROUP LTD (registered in Scotland No. 472621) whose registered office is at Old Govan Road, Renfrew, PA4 8XJ (the "Company") and

(2) Ian Brander (the "Executive") of [REDACTED]

WHEREBY IT IS AGREED as follows:-

1.    Definitions

In this Agreement:

"Associated Company" means Charter International PLC and any other company which is from time to time a subsidiary or a holding company of Charter International PLC or a subsidiary (other than the Company) of a holding company of the Company. In this definition "subsidiary" and "holding company" have the same meanings as in Section 736 of the Companies Act 1985, as originally enacted, and

"the Board" means the Board of Directors from time to time of the Company or the relevant Associated Company.

“the Company” means Howden Group Limited.    

Intellectual Property Rights: patents, rights to     inventions,                     copyright and related rights, trade marks, trade names and                     domain names, rights in get-up, rights in goodwill or to sue                     for passing off, unfair competition rights, rights in designs,                     rights in computer software, database rights, topography                     rights, rights in confidential information (including know-how                     and trade secrets) and any other intellectual property rights,                     in each case whether registered or unregistered and                         including all applications (or rights to apply) for, and renewals                     or extensions of, such rights and all similar or equivalent                         rights or forms of protection which subsist or will subsist now                     or in the future in any part of the world.

2.    Term of Appointment

2.1    The Executive shall serve the Company as Chief Executive Officer or in such other capacity of a like status as the Company may require from 1 August 2011 and thereafter unless and until his employment shall be terminated by the Company giving to the Executive not less than twelve (12) months' notice in writing or by the Executive giving to the Company not less than six (6) months' notice in writing.

2.2    The Executive’s employment shall in any event terminate on the date on which the Executive reaches the age of 65 years.

3. Powers and Duties

3.1    The Executive shall exercise such powers and perform such duties in relation to the business of the Company or any other Associated Company as may from time to time be vested in or assigned to him by the Company. The Executive shall comply with all reasonable directions from, and all regulations of, the Company.

3.2    The Executive, who shall work such hours as may reasonably be required for the proper performance of his duties, shall devote the whole of his time, attention and abilities during those hours to carrying out his duties in a proper, loyal and efficient manner.

3.3    The Executive shall travel to such places as the Company (or any Associated Company to which he may be seconded) may from time to time require.

3.4    The Executive's normal place of work shall be at the headquarters of the company which is currently Old Govan Road, Renfrew, PA4 8XJ or at such other place within the Glasgow area as the Company may from time to time reasonably determine.

3.5    The Company shall be under no obligation to vest in or assign to the Executive any powers or duties or to provide any work for the Executive, and the Company may at any time during any period of notice as specified in clause 2.1 of this Agreement or in circumstances in which it reasonably believes that the Executive is guilty of misconduct or in breach of this Agreement in order that the circumstances giving rise to that belief may be investigated suspend the Executive from the performance of his duties or exclude him from any premises of the Company or any Associated Company during that period of suspension or exclusion. Salary and benefits will not cease to be payable by reason only of such suspension or exclusion. During any such period of suspension or exclusion the Executive shall

3.5.1 continue to be bound by the provisions of this Agreement and must continue at all times to conduct himself with good faith towards the Company and any Associated Company and not do anything which is harmful to the Company or any Associated Company;

3.5.2 if requested by the Company or any Associated Company, resign from any directorships, trusteeships or other offices which he may hold in the Company or any Associated Company or which he may hold as nominee of the Company or any Associated Company;

3.5.3 notify the Company of any change of address or contact details;

3.5.4 return all property of the Company or any Associated Company which is held by him or is under his control including without limitation all confidential information, documents, software and copies of documents and software;

3.5.5 if requested by the Company or any Associated Company, refrain from having any contact with employees, customers, clients, suppliers and professional contacts of the Company or any Associated Company except where such employees, customers, clients, suppliers and professional contacts are personal friends of the Executive and he is contacting them in a personal capacity;

3.5.6 cease to be an authorised signatory of the Company or any Associated Company or hold a power of attorney for the Company or any Associated Company; and

3.5.7 if requested by the Company, take any holiday entitlement which he has accrued during such period of suspension.

4.    Salaryand Fees

4.1    The Executive shall be paid by the Company monthly for his services during his employment a salary at the rate of £250,000per annum or at such higher rate or rates as the Board may determine and notify to the Executive in writing. The monthly payment shall be made into the Executive’s bank account on or before the fifteenth (15^th) of each month in respect of that month.

4.2    On 1 April 2012 and thereafter at least once in each 12 months on or before the 1st April annually the Company shall review, but shall not be obliged to increase, the salary payable under this Agreement.

4.3    The Executive shall not be entitled to any other salary or fees as an ordinary or executive director or employee of the Company or any Associated Company and the Executive shall, as the Company may direct, either waive his right to any such salary or fees or account for the same to the Company.

4.4 Any sums payable under this Agreement, including without limitation clauses 4, 5 and 6, shall be paid less any necessary withholdings.

5.    Pensions and Life Assurance

5.1 The Executive may participate in the Howden Group Stakeholder Scheme subject to the rules of that scheme as in force from time to time, a copy of which is available for inspection at the Global Human Resources Director's office at any time upon reasonable notice. The Executive’s normal retirement age will be at 65.

5.2 In addition, the Executive will be eligible for Life Assurance of 4 times basic salary. This benefit will be provided by an Insurer and the Executive’s rights are subject to the terms of this policy which may vary from time to time. Details of the policy are available from the Global Human Resources Director’s office at any time upon reasonable notice. The Company shall not be liable to the Executive for any decision, action or omission of the Insurer in relation to such benefit.

6. Benefits

6.1    Subject to the Executive being qualified to drive, the Company shall provide for the Executive either a Category 10 car, in accordance with company policy, or a cash supplement of £12,000 per annum in lieu of a company car. The supplement will be added to the Executive’s monthly gross salary and will be subject to tax and National Insurance. The supplement will not be included in pensionable pay, or used to calculate any other benefits. If he opts for the supplement, the Executive will be expected to provide his own vehicle for company use at his own expense. To compensate for the cost of using his own car on company business, the Executive will be provided with a fuel card to cover the cost of private fuel and business fuel and oil. The Executive will be responsible for his own running costs of the car including maintenance and appropriate insurance etc.

6.2 The Executive and his family shall be entitled to membership of the Company's private health insurance scheme, subject to the terms of that scheme and of any related policy of insurance as in force from time to time. The current scheme is provided by BUPA.

6.3 In addition, periodic medical examinations will also be made available for the Executive only in accordance with those provided to other Company executives.

6.4 The Executive shall be entitled to participate in such bonus scheme for persons of his status as the Company may have from time to time. Bonuses are wholly discretionary and shall be of such amounts as may be determined in accordance with the terms of such scheme from time to time. The Company may at its discretion end or amend any bonus scheme.

7.    Expenses

The Company shall reimburse to the Executive subject to compliance with the Company's expenses policy from time to time all reasonable travelling, hotel, entertainment and other out-of-pocket expenses, which he may from time to time be authorised to incur in the execution of his duties hereunder.

8. Holidays

Inclusive of bank and other public holidays, the Executive will be entitled to 33 days paid holiday in every calendar year to be taken at such time or times as may be approved by the Board. Holidays not taken in the calendar year of entitlement will be lost.

9. Confidential Information etc

The Executive shall not, either during his employment or thereafter, use to the detriment or prejudice of the Company or any Associated Company or, except in the proper course of his duties, divulge to any person any trade secret or any other confidential information concerning the business or affairs of the Company or any Associated Company which may have come to his knowledge during his employment.

10. Competitive Activities

During his employment the Executive shall not (unless otherwise agreed in writing by the Company) undertake any other business or profession or be or become an employee or agent of any other firm, company or any other person or assist or have any financial interest in any other business or profession. The Executive may, however, hold or acquire by way of bona fide investment only shares or other securities of any company which are listed or dealt in on any recognised Stock Exchange, unless the Company shall require him not to do so in any particular case on the ground that such other company is or may be carrying on a business competing or tending to compete with the business of the Company or any Associated Company. For this purpose, the Executive shall advise the Company Secretary of Charter International PLC of any shares or other securities which he intends to acquire before doing so.

11. Post-termination Restrictions

A.    In this Clause 11:

(i)    "Restricted Business" means the business of the Company at the time of the termination of the Executive’s employment and of any Associated Companies in whose business he has been directly involved in the twelve months prior to the termination of the Executive's employment;

(ii)    "Restricted Customer" means any firm, company or other person who, during the period of twelve months ending on the date of the termination of the Executive's employment, was a customer of or in the habit of dealing with the Company or any Associated Company and with whom the Executive had contact or about whom he became aware or informed in the course of his employment;

(iii)    "Restricted Employee" means any person who, at the date of the termination of the Executive's employment, was employed by the Company or any Associated Company at the level of an executive director and/or any employee who reported directly to an executive director and/or any other employee who could materially damage the interests of the Company or any Associated Company if he became employed in any business concern in competition with any Restricted Business;

(iv)    “Restriction Date” means the earlier of the date of termination of this Agreement and the start of any Suspension Period; and

(v) “Suspension Period” means any period of suspension or exclusion during the Executive’s notice period pursuant to Clause 3.5 which ended within one month of the termination of this Agreement.    

B.    The Executive will not, for a period of 12 months after the Restriction Date, solicit or endeavour to entice away from the Company or any Associated Company the business or custom of a Restricted Customer with a view to providing goods or services to that Restricted Customer in material competition with any Restricted Business.

C.    The Executive will not, for a period of 12 months after the Restriction Date, provide goods or services to or otherwise have any business dealings with any Restricted Customer in the course of any business concern which is in material competition with any Restricted Business.

D.    The Executive will not, for a period of 12 months after the Restriction Date, in the course of any business concern which is in competition with any Restricted Business offer employment to or otherwise endeavour to entice away from the Company or any Associated Company any Restricted Employee.

E.    The Executive will not, for a period of 12 months after the Restriction Date, be engaged in or concerned in any capacity in any business concern which is in material competition with any Restricted Business.

This sub - clause E shall not restrain the Executive from being engaged or concerned in any business concern in so far as the Executive's duties or work shall relate solely:-

(i)    to geographical areas where the business concern is not in competition with the Restricted Business; or

(ii)    to services or activities of a kind with which the Executive was not concerned to a material extent during the period of 12 months ending on the Restriction Date.

F.    The obligations imposed on the Executive by this clause 11 extend to him acting not only on his own account but also on behalf of any other firm, company or other person and shall apply whether he acts directly or indirectly.

G.    If so required by the Company, the Executive shall enter into restrictions the same as or (subject to the requirements of local law) substantially similar to those set out in this clause 11, for the benefit of any Associated Company to which the Executive may be seconded by the Company.

12. Return of Property etc

The Executive shall promptly whenever requested by the Company and in any event upon the termination of his employment deliver up to the Company all lists of clients or customers, correspondence and all other documents, papers and records (including, without limitation, any records stored by electronic means, together with any codes or implements necessary to give full access to such records) which may have been prepared by him or have come into his possession, custody or control in the course of his employment, and the Executive shall not be entitled to and shall not retain any copies thereof. Title and copyright therein shall vest in the Company. The Executive shall also at the time return any other property belonging to the Company or any Associated Company.

13. Intellectual Property

The Executive acknowledges that all Intellectual Property Rights created either wholly or partially by the Executive in the course of his employment with the Company (whether or not during working hours or using Company premises or resources) and all materials embodying them (“Employment IPR”) shall automatically belong to the Company to the fullest extent permitted by law. To the extent that they do not vest in the Company automatically, the Executive holds them on trust for the Company.

13.2     The Executive acknowledges that, because of the nature of his duties and the             particular responsibilities arising from the nature of his duties, he has, and shall have         at all times while he is employed by the Company, a special obligation to further the         interests of the Company.

13.3     To the extent that legal title in any Intellectual Property Rights does not vest in the         Company by virtue of Clause 13.1, the Employee agrees, immediately upon creation         of such Intellectual Property Rights, to offer to the Company in writing a right of first         refusal to acquire them on arm’s length terms to be agreed between the parties. If         the parties cannot agree on such terms within 30 days of the Company receiving the         offer, the Company shall refer the dispute to an arbitrator who shall be appointed by         the President of the Law Society for Scotland. The arbitrator's decisions shall be final         and binding on the parties, and the costs of arbitration shall be borne equally by the         parties. The Employee agrees that the provisions of this Clause 13 shall apply to all         Intellectual Property Rights offered to the Company under this Clause 13.3 until such         time as the Company has agreed in writing that the Executive may offer them for sale         to a third party.

13.4     The Executive agrees:

13.4.1     to give the Company full written details of all Intellectual Property Rights                 which relate to or are capable of being used in the business of the Company             or any Associated Company promptly on their creation;

13.4.2     at the Company's request and in any event on the termination of his                 employment to give to the Company all originals and copies of                     correspondence, documents, papers and records on all media which record             or relate to any of the Employment IPR;

13.4.3    not to attempt to register any Employment IPR unless requested to do so by             the Company; and

13.5     The Executive waives all his present and future moral rights which arise under the         Copyright Designs and Patents Act 1988, and all similar rights in other jurisdictions         relating to any copyright which forms part of the Employment IPRs, and agrees not to         support, maintain nor permit any claim for infringement of moral rights in such             copyright works.

13.6     The Executive acknowledges that, except as provided by law, no further                 remuneration or compensation other than that provided for in this agreement is or         may become due to the Executive in respect of his compliance with this clause. This         clause is without prejudice to the Employee’s rights under the Patents Act 1977.

13.7     The Executive undertakes to use his best endeavours to execute all documents and         do all acts both during and after his employment by the Company as may, in the             opinion of the Company, be necessary or desirable to vest the Employment IPRs in         the Company, to register them in the name of the Company or any Associated             Company and to protect and maintain the Employment IPRs. Such documents may,         at the Company's request, include waivers of all and any statutory moral rights             relating to any copyright works which form part of the Employment IPRs. The             Company agrees to reimburse the Executive's reasonable expenses of complying         with this Clause 13.7.

13.8     The Executive agrees to give all necessary assistance to the Company to enable it to         enforce its Intellectual Property Rights against third parties, to defend claims for             infringement of third party Intellectual Property Rights and to apply for registration of         Intellectual Property Rights, where appropriate throughout the world, and for the full         term of those rights.

13.9     The Executive hereby irrevocably appoints the Company to be his attorney to execute         and do any such instrument or thing and generally to use his name for the purpose of         giving the Company or its nominee the benefit of this Clause 13. The Executive             acknowledges in favour of a third party that a certificate in writing signed by any             Director of the Company that any instrument or act falls within the authority conferred         by this Clause 13 shall be conclusive evidence that such is the case.

13.10    Rights and obligations under this Clause 13 shall continue in force after the termination of the Executive's employment in respect of inventions made during the Executive's appointment hereunder and shall be binding upon his personal representatives.

14. Sickness

Subject to production, if requested, of medical certificates satisfactory to the Company, if the Executive is absent from work due to sickness or injury salary and other benefits shall continue to be payable for a period of six consecutive months or for periods totaling six months in aggregate in any period of twelve consecutive months, whichever occurs first. The Executive currently has the benefit if a critical illness policy. This will continue as a non-contractual benefit, although it will be “red circled” (ie frozen) at the current salary level of £174,188.

15. Termination of Employment

15.1 Either party may terminate the Employment in accordance with clause 2.1. Without prejudice to the remainder of this clause 15 the Company may also, in its sole discretion, elect at anytime to terminate the Employment in accordance with clause 15.2.

15.2.1 The Company may terminate the Executive’s employment by giving written notice to the Executive that it is exercising its rights under this clause 15.2 and electing to make up to 12 Monthly Payments (as defined below) to the Executive. In the event that notice under clause 2.1 has been given before the Company makes any election under this clause 15.2, and the Executive has worked part of that notice period, the maximum number of Monthly Payments shall be reduced pro rata. The Monthly Payments shall commence on the date such notice is given to the Executive or such date thereafter as the Company shall determine and the Executive’s employment under this Agreement shall cease on that day (the “Commencement Date”).

15.2.2 Each Monthly Payment shall be calculated by dividing the Executive’s basic salary at the date notice is given by twelve, and shall be paid on a monthly basis subject to such deductions as may be required by law and in accordance with clause 15.2.5 below.

15.2.3 The Company may either continue the provision of the benefits which the Executive would otherwise have been entitled to receive during his notice period or, at its sole discretion, pay to the Executive the value of those benefits calculated on a monthly basis and paid either in a single lump sum or monthly in addition to the Monthly Payments.

15.2.4 The Executive shall be under a duty, beginning on the Commencement Date, actively to seek an alternative remunerated position (defined below) and shall also be required to keep the Company informed in relation to his search on a monthly basis.

15.2.5 If the Executive obtains an alternative remunerated position during the period for payment of the Monthly Payments then

(i) each of the Monthly Payments still outstanding shall be reduced by the basic monthly remuneration earned by the Executive, or to which he is entitled, from the alternative remunerated position, and only the balance shall be due to the Executive;

(ii) any benefits provided by the Company (or their value paid in lieu) which are provided by the alternative position (whether or not on an equal or equivalent basis) shall cease.

“Alternative remunerated position” shall mean any position whether under a contract of employment, consultancy arrangement or non executive appointment or otherwise whereby the Executive is directly or indirectly remunerated, whether by way of salary, bonus, pension, fees, equity or otherwise.

15.2.6 The Executive acknowledges that he will not be an employee of the Company while in receipt of the Monthly Payments and accordingly will not be entitled to paid holidays or to receive any holiday pay in respect of that period.

15.3    If the Executive:-

(A)    shall be or become incapacitated from any cause whatsoever from efficiently performing his duties hereunder for six consecutive months or periods of six months in aggregate in any period of twelve consecutive months; or

(B)    shall have an order under Section 252 of the Insolvency Act 1986 made in respect of him or if an interim receiver of his property is appointed under Section 286 of that Act; or

(C)    shall be or become prohibited by law from being a director; or

(D)    shall be guilty of serious misconduct or shall commit any serious or persistent breach of any of his obligations to the Company or any Associated Company (whether under this Agreement or otherwise); or

(E)    shall refuse or neglect (after a request to do so) to comply with any lawful and reasonable orders given to him by the Company;

then the Company shall be entitled by notice in writing to the Executive to terminate forthwith his employment under this Agreement. The Executive shall have no claim against the Company or any Associated Company by reason of such termination.

15.4    Any delay or forbearance by the Company in exercising any right of termination shall not constitute a waiver of it.

16. Miscellaneous Matters

16.1    Without prejudice to the disciplinary rules in force in relation to employees the Executive is expected at all times to conduct himself in a manner consistent with his senior status.

16.2    If the Executive is dissatisfied with any disciplinary decision or has a grievance relating to his employment he should apply in person to the Chief Executive of the Company setting out full details of the matter. The Chief Executive of the Company will then determine whether he will personally hear the grievance or nominate another Senior Executive to hear the grievance. The decision of the Chief Executive of the Company, or his nominee, on such matter shall be final but without prejudice to the Executive's legal rights under employment law.

16.3    There are no collective agreements which directly affect the terms and conditions set out in this Agreement.

16.4     The start date for the Executive’s continuous employment with the company was 1^st August 1983.

17. Notices

Any notice may be given personally to the Executive or to the Secretary of the Company (as the case may be) or may be posted to the Company (for the attention of its Secretary) at its registered office for the time being or to the Executive at his last known address. Any such notice sent by post shall be deemed served forty-eight hours after it is posted and in proving such service it shall be sufficient to prove that the notice was properly addressed and put in the post.

18. Deductions

The Executive authorises the Company to deduct from his remuneration on termination of his employment or otherwise (including but not limited to salary, pay in lieu of notice, holiday and sick pay) all debts owed by him to the Company or any Associated Company.

19. Other Agreements

The Executive acknowledges and warrants that there are no agreements or arrangements whether written, oral or implied between the Company or any Associated Company and the Executive relating to the employment of the Executive other than those expressly set out in this Agreement and that he is not entering into this Agreement in reliance on any representation not expressly set out herein. This Agreement supersedes all prior and contemporaneous agreements, understandings, negotiations, and discussions, whether written or oral, between Company (and any entity related to Company) and Executive, relating in any way to Executive's employment, termination of that employment and/or other transaction contemplated by the Agreement, and may only be changed in writing signed by both Company and Executive.

20. Proper Law

This Agreement shall be interpreted and enforced in accordance with the laws of England.

21.    Data Protection

21.1 The Executive confirms he has read and understood the Company's data protection     policy, a copy of which is contained in the Employee Handbook. The Company may change its data protection policy at any time and will notify employees in writing of any changes.

21.2     The Executive shall comply with the data protection policy when processing personal         data in the course of employment including personal data relating to any employee,         customer, client, supplier or agent of the Company or any Associated Company.

21.3     The Executive consents to the Company or any Associated Company processing         data relating to the Executive for legal, personnel, administrative and management         purposes and in particular to the processing of any sensitive personal data (as             defined in the Data Protection Act 1998) relating to the Executive, including, as             appropriate:

21.3.1     information about the Executive's physical or mental health or condition in             order to monitor sick leave and take decisions as to the Executive's fitness             for work;

21.3.2    the Executive's racial or ethnic origin or religious or similar information in                 order to monitor compliance with equal opportunities legislation;

21.3.3     information relating to any criminal proceedings in which the Executive has             been involved for insurance purposes and in order to comply with legal                 requirements and obligations to third parties; and

21.4     The Company may make such information available to any Group Company, those         who provide products or services to the Company or any Group Company (such as         advisers and payroll administrators), regulatory authorities, potential or future             employers, governmental or quasi-governmental organisations and potential             purchasers of the Company or the business in which the Executive works.

21.5 The Employee consents to the transfer of such information to any Group Company and the Company's orany Group Company's business contacts outside the European Economic Area.

22.Communications

Telephone calls made and received by the Executive using the Company’s equipment and use of the Company’s e‑mail system to send or receive personal correspondence may be recorded by the Company on its communications systems for the purpose of ensuring that the Company’s rules are being complied with and for legitimate business purposes. Any recordings made shall at all times remain the property of the Company and, if necessary, will be used as evidence in the case of disputes with employees or clients.

IN WITNESS whereof this Agreement has been signed by or on behalf of the parties hereto the day and year first before written.

SIGNED by

on behalf of the Company    ) /s/

in the presence of:-        ) /s/

SIGNED by the Executive    ) /s/ Ian Brander

in the presence of:-        )    /s/ Donna Malone

2

EX-31.01

Exhibit 31.01

CERTIFICATIONS

I, Steven E. Simms, certify that:

1. I have reviewed this quarterly report on Form 10-Q of Colfax Corporation;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4. The registrant's other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

(a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

(b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

(c) Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

(d) Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter (the registrant's fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and

5. The registrant's other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):

(a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize and report financial information; and

(b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.

Dated: July 25, 2013

/s/    Steven E. Simms

Steven E. Simms

President and Chief Executive Officer

(Principal Executive Officer)

EX-31.02

Exhibit 31.02

CERTIFICATIONS

I, C. Scott Brannan, certify that:

1. I have reviewed this quarterly report on Form 10-Q of Colfax Corporation;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4. The registrant's other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

(a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

(b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

(c) Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

(d) Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter (the registrant's fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and

5. The registrant's other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):

(a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize and report financial information; and

(b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.

Dated: July 25, 2013

/s/    C. Scott Brannan

C. Scott Brannan

Senior Vice President, Finance, Chief Financial Officer and Treasurer

(Principal Financial and Accounting Officer)

EX-32.01

Exhibit 32.01

Certification Pursuant to 18 U.S.C. Section 1350

(as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002)

I, Steven E. Simms, as President and Chief Executive Officer of Colfax Corporation (the “Company”), certify, pursuant to 18 U.S.C. Section 1350 (as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002), that to my knowledge:

1. the quarterly report on Form 10-Q of the Company for the period ended June 28, 2013 (the "Report"), filed with the U.S. Securities and Exchange Commission, fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934, as amended; and

2. the information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.

Dated: July 25, 2013

/s/    Steven E. Simms

Steven E. Simms

President and Chief Executive Officer

(Principal Executive Officer)

EX-32.02

Exhibit 32.02

Certification Pursuant to 18 U.S.C. Section 1350

(as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002)

I, C. Scott Brannan, as Senior Vice President, Finance, Chief Financial Officer and Treasurer of Colfax Corporation (the “Company”), certify, pursuant to 18 U.S.C. Section 1350 (as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002), that to my knowledge:

1. the quarterly report on Form 10-Q of the Company for the period ended June 28, 2013 (the "Report"), filed with the U.S. Securities and Exchange Commission, fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934, as amended; and

2. the information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.

Dated: July 25, 2013

/s/    C. Scott Brannan

C. Scott Brannan

Senior Vice President, Finance, Chief Financial Officer and Treasurer

(Principal Financial and Accounting Officer)

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Debt

6 Months Ended

Jun. 28, 2013

Debt Disclosure [Abstract]

Debt Disclosure [Text Block]

Debt

Long-term debt consisted of the following:

	June 28, 2013			December 31, 2012
	(In thousands)
Term loans	$	1,467,405		$	1,682,177
Revolving credit facilities and other	38,537			46,134
Total Debt	1,505,942			1,728,311
Less: current portion	(95,029		)	(34,799		)
Long-term debt	$	1,410,913		$	1,693,512

On February 22, 2013, the Company entered into the Second Amendment to its credit agreement (the “Deutsche Bank Credit Agreement”), by and among the Company, Colfax UK Holdings Ltd, the other subsidiaries of the Company party thereto, the lenders party thereto and Deutsche Bank AG New York Branch, as administrative agent (the “Second Amendment”). Pursuant to the Second Amendment, the Company amended its credit agreement to, among other things, (i) reallocate the borrowing capacities of the tranches of loans as follows: a $408.7 million term A-1 facility, a $380 million term A-2 facility, a €157.6 million term A-3 facility, a €105.3 million term A-4 facility, a $400 million term B facility and two revolving credit subfacilities which total $500 million in commitments, (ii) provide for an interest rate margin on the term A-1 facility, the term A-2 facility and the revolving credit subfacilities ranging from 0.75% to 1.50% per annum for base rate loans and 1.75% to 2.50% per annum for Eurocurrency rate loans, in each case, determined by the Company’s leverage ratio, (iii) provide for an interest rate margin on the term A-3 facility and the term A-4 facility ranging from 1.50% to 2.25% per annum for base rate loans and 2.50% to 3.25% per annum for Eurocurrency rate loans, in each case, determined by the Company’s leverage ratio and (iv) provide for an interest rate margin on the term B facility of 1.50% per annum for base rate loans and 2.50% per annum for Eurocurrency rate loans. In conjunction with the Second Amendment, the Company recorded a charge to Interest expense in the Condensed Consolidated Statement of Operations for the six months ended June 28, 2013 of $2.6 million to write-off certain deferred financing fees and original issue discount and expensed approximately $0.5 million of costs incurred in connection with the refinancing. The Company had an original issue discount of $44.0 million and deferred financing fees of $16.8 million included in its Condensed Consolidated Balance Sheet as of June 28, 2013, which will be accreted to Interest expense primarily using the effective interest method, over the life of the Deutsche Bank Credit Agreement. As of June 28, 2013, the weighted-average interest rate of borrowings under the amended Deutsche Bank Credit Agreement was 2.62%, excluding accretion of original issue discount, and there was $499.9 million available on the revolving credit subfacilities, including $199.9 million available on a letter of credit subfacility.

The Company is also party to additional letter of credit facilities with total capacity of $572.3 million, of which $332.7 million was outstanding as of June 28, 2013.

As of June 28, 2013, the Company is in compliance with the covenants under the Deutsche Bank Credit Agreement.

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Commitments and Contingencies (Details)	6 Months Ended
	Jun. 28, 2013 Asbestos_claims		Jun. 29, 2012 Asbestos_claims
Claims unresolved, beginning of period	23,523	[1]	25,281	[1]
Claims filed(2)	2,298	[1],[2]	2,257	[1],[2]
Claims resolved(3)	(3,188)	[1],[3]	(1,998)	[1],[3]
Claims unresolved, end of period	22,633	[1]	25,540	[1]

[1] Excludes claims filed by one legal firm that have been “administratively dismissed.”

[2] Claims filed include all asbestos claims for which notification has been received or a file has been opened.

[3] Claims resolved include all asbestos claims that have been settled, dismissed or that are in the process of being settled or dismissed based upon agreements or understandings in place with counsel for the claimants.

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CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) [Parenthetical] (USD $) In Thousands, unless otherwise specified	3 Months Ended		6 Months Ended
	Jun. 28, 2013	Jun. 29, 2012	Jun. 28, 2013	Jun. 29, 2012
Statement of Other Comprehensive Income [Abstract]
Foreign currency translation, tax	$ (475)	$ 136	$ (624)	$ 60
Unrealized (loss) gain on hedging activities, tax	0	(463)	(643)	(192)
Realized gain on hedging activities, tax	0	0	0	0
Net pension and other postretirement benefit cost, tax	213	(35)	354	109
Other comprehensive loss attributable to noncontrolling interest, tax	$ 0	$ 0	$ 0	$ 0

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General

6 Months Ended

Jun. 28, 2013

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block]

General

Colfax Corporation (the “Company” or “Colfax”) is a diversified global industrial manufacturing and engineering company that provides gas- and fluid-handling and fabrication technology products and services to customers around the world under the Howden, ESAB and Colfax Fluid Handling brand names.

The Condensed Consolidated Financial Statements included in this quarterly report have been prepared by the Company in accordance with the rules and regulations of the Securities and Exchange Commission (“SEC”) and accounting principles generally accepted in the United States of America (“GAAP”) for interim financial statements.

The Condensed Consolidated Balance Sheet as of December 31, 2012 is derived from the Company’s audited financial statements. During the three months ended March 29, 2013, adjustments were made retrospectively to provisional amounts recorded as of December 31, 2012, due to the finalization of the valuation of specific tax items related to the acquisition of Charter International plc (“Charter”) by Colfax (the “Charter Acquisition”). See Note 3, “Acquisition” for additional information regarding these adjustments. Certain information and footnote disclosures normally included in financial statements prepared in accordance with GAAP have been omitted in accordance with the SEC’s rules and regulations for interim financial statements. The Condensed Consolidated Financial Statements included herein should be read in conjunction with the audited financial statements and related footnotes included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2012 (the “2012 Form 10-K”), filed with the SEC on February 19, 2013.

The Condensed Consolidated Financial Statements reflect, in the opinion of management, all adjustments, which, except as described above, consist solely of normal recurring adjustments, necessary to present fairly the Company’s financial position and results of operations as of and for the periods indicated. Significant intercompany transactions and accounts are eliminated in consolidation.

The Company makes certain estimates and assumptions in preparing its Condensed Consolidated Financial Statements in accordance with GAAP. These estimates and assumptions affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the Condensed Consolidated Financial Statements and the reported amounts of revenues and expenses for the periods presented. Actual results may differ from those estimates.

During the three months ended March 29, 2013, Venezuela devalued its currency to an official rate of 6.3 bolivar fuerte (“bolivar”) to the U.S. dollar, representing an approximate 32% devaluation of its currency relative to the U.S. dollar. The Company currently considers Venezuela a highly inflationary currency under GAAP. Therefore, financial statements of the Company’s Venezuelan operation have been remeasured into its parent’s reporting currency, the Colombian peso. Exchange gains and losses from the re-measurement of monetary assets and liabilities are reflected in current earnings. Future impacts to earnings of applying highly inflationary accounting for Venezuela on the Company’s Consolidated Financial Statements will be dependent upon movements in the applicable exchange rates between the bolivar and the Colombian peso and the amount of monetary assets and liabilities included in the Company’s Venezuelan operation’s balance sheet. As of and for the six months ended June 28, 2013, the Company’s Venezuelan operation represented less than 1% of the Company’s Total assets and Net sales. The bolivar-denominated monetary net asset position, primarily related to Cash and cash equivalents, was $5.9 million in the Condensed Consolidated Balance Sheet as of June 28, 2013. The devaluation of the bolivar and the change to the Colombian peso as the functional currency resulted in a foreign currency transaction loss of $2.9 million recognized in Selling, general and administrative expense for the three months ended March 29, 2013.

The results of operations for the three and six months ended June 28, 2013 are not necessarily indicative of the results of operations that may be achieved for the full year. Quarterly results are affected by seasonal variations in the Company’s gas- and fluid-handling business. As our gas- and fluid-handling customers seek to fully utilize capital spending budgets before the end of the year, historically our shipments have peaked during the fourth quarter. Also, all of our European operations typically experience a slowdown during the July and August holiday season. General economic conditions may, however, impact future seasonal variations.

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Equity (Tables)

6 Months Ended

Jun. 28, 2013

Equity [Abstract]

Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block]

Accumulated Other Comprehensive Loss

The following table presents the changes in the balances of each component of Accumulated other comprehensive loss including current period reclassifications out of Accumulated other comprehensive loss for the six months ended June 28, 2013. All amounts are net of tax and noncontrolling interest.

	Accumulated Other Comprehensive Loss Components
	Net Unrecognized Pension And Other Post-Retirement Benefit Cost			Foreign Currency Translation Adjustment			Unrealized (Loss) Gain On Hedging Activities			Total
	(In thousands)
Beginning Balance	$	(247,332	)	$	104,718		$	(3,980	)	$	(146,594	)
Other comprehensive (loss) income before reclassifications:
Foreign currency translation adjustment	—			(154,230		)	—			(154,230		)
Loss on long-term intra-entity foreign currency transactions	—			(7,299		)	—			(7,299		)
Gain on net investment hedges	—			—			7,263			7,263
Unrealized loss on cash flow hedges	—			—			(3,764		)	(3,764		)
Other comprehensive (loss) income before reclassifications	—			(161,529		)	3,499			(158,030		)
Amounts reclassified from Accumulated other comprehensive loss	5,157			—			—			5,157
Net current period other comprehensive income (loss)	5,157			(161,529		)	3,499			(152,873		)
Ending balance	$	(242,175	)	$	(56,811	)	$	(481	)	$	(299,467	)

Amounts reclassified from Accumulated other comprehensive loss [Table Text Block]

The effect on Net income of amounts reclassified out of each component of Accumulated other comprehensive loss for the three and six months ended June 28, 2013 is as follows:

	Three Months Ended June 28, 2013							Six Months Ended June 28, 2013
	Amounts Reclassified From Other Comprehensive Loss		Tax Benefit			Total		Amounts Reclassified From Other Comprehensive Loss		Tax Benefit			Total
	(In thousands)
Pension and other post-retirement benefit cost:
Amortization of net loss (1)	$	2,714	$	(213	)	$	2,501	$	5,387	$	(354	)	$	5,033
Amortization of prior service cost(1)	62		—			62		124		—			124
	$	2,776	$	(213	)	$	2,563	$	5,511	$	(354	)	$	5,157

⁽¹⁾ Included in the computation of net periodic benefit cost. See Note 10, “Net Periodic Benefit Cost - Defined Benefit Plans” for additional details.

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Segment Information (Details) (USD $) In Thousands, unless otherwise specified	3 Months Ended				6 Months Ended
	Jun. 28, 2013		Jun. 29, 2012		Jun. 28, 2013		Jun. 29, 2012
Net sales	$ 1,074,118		$ 1,045,653		$ 2,021,261		$ 1,932,019
Income (loss) before income taxes	93,598		34,565		142,636		(8,548)
Interest expense	18,054		25,741		41,343		44,723
Restructuring and other related charges	4,477		18,558		8,691		27,201
Segment operating income (loss)	116,129	[1]	78,864	[1]	192,670	[1]	63,376	[1]
Gas Handling [Member]
Net sales	352,084		322,566		627,531		586,162
Fluid Handling [Member]
Net sales	164,679		173,929		314,337		335,664
Welding and Cutting [Member]
Net sales	557,355		549,158		1,079,393		1,010,193
Gas and Fluid Handling [Member]
Net sales	516,763		496,495		941,868		921,826
Segment operating income (loss)	69,440		45,112		111,928		64,921
Fabrication Technology [Member]
Net sales	557,355		549,158		1,079,393		1,010,193
Segment operating income (loss)	59,427		45,411		103,895		62,407
Corporate and Other [Member]
Segment operating income (loss)	$ (12,738)		$ (11,659)		$ (23,153)		$ (63,952)

[1] The following is a reconciliation of Income (loss) before income taxes to segment operating income:

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Accrued Liabilities

6 Months Ended

Jun. 28, 2013

Accrued Liabilities [Abstract]

Accrued Liabilities Disclosure [Text Block]

Accrued Liabilities

Accrued liabilities in the Condensed Consolidated Balance Sheets consisted of the following:

	June 28, 2013		December 31, 2012
	(In thousands)
Accrued payroll	$	101,911	$	99,583
Advance payment from customers	61,806		61,431
Accrued taxes	61,948		34,165
Accrued asbestos-related liability	63,299		58,501
Warranty liability - current portion	31,142		35,678
Accrued restructuring liability - current portion	13,255		25,406
Accrued third-party commissions	12,638		12,320
Other	93,542		120,136
Accrued liabilities	$	439,541	$	447,220

Warranty Liability

The activity in the Company’s warranty liability consisted of the following:

	Six Months Ended
	June 28, 2013			June 29, 2012
	(In thousands)
Warranty liability, beginning of period	$	40,437		$	2,987
Accrued warranty expense	9,095			8,728
Changes in estimates related to pre-existing warranties	(816		)	511
Cost of warranty service work performed	(10,611		)	(12,139		)
Acquisitions	—			44,476
Foreign exchange translation effect	(1,142		)	(1,695		)
Warranty liability, end of period	$	36,963		$	42,868

Accrued Restructuring Liability

The Company’s restructuring programs include a series of restructuring actions at its fluid-handling operations beginning in 2009 and ongoing initiatives as a result of the Charter Acquisition as well as efforts to reduce the structural costs and rationalize the corporate overhead of the combined businesses.

A summary of the activity in the Company’s restructuring liability included in Accrued liabilities and Other liabilities in the Condensed Consolidated Balance Sheets is as follows:

	Six Months Ended June 28, 2013
	Balance at Beginning of Period		Provisions		Payments			Foreign Currency Translation			Balance at End of Period(3)
	(In thousands)
Restructuring and other related charges:
Gas and Fluid Handling:
Termination benefits(1)	$	3,060	$	1,465	$	(3,958	)	$	(66	)	$	501
Facility closure costs(2)	1,177		1		(282		)	(15		)	881
Other related charges	—		—		—			—			—
	4,237		1,466		(4,240		)	(81		)	1,382
Fabrication Technology:
Termination benefits(1)	14,637		5,201		(9,858		)	(103		)	$	9,877
Facility closure costs(2)	6,925		1,096		(5,622		)	(6		)	2,393
Other related charges	33		928		(914		)	(45		)	2
	21,595		7,225		(16,394		)	(154		)	12,272
Corporate and Other:
Termination benefits(1)	—		—		—			—			—
Facility closure costs(2)	1,522		—		(118		)	(100		)	1,304
Other related charges	—		—		—			—			—
	1,522		—		(118		)	(100		)	1,304
	$	27,354	$	8,691	$	(20,752	)	$	(335	)	$	14,958

⁽¹⁾ Includes severance and other termination benefits, including outplacement services. The Company recognizes the cost of involuntary

termination benefits at the communication date or ratably over any remaining expected future service period. Voluntary termination benefits

are recognized as a liability and an expense when employees accept the offer and the amount can be reasonably estimated.

⁽²⁾ Includes the cost of relocating associates, relocating equipment and lease termination expense in connection with the closure of facilities.

⁽³⁾ As of June 28, 2013, $13.3 million and $1.7 million of the Company’s restructuring liability was included in Accrued liabilities and Other

liabilities, respectively.

The Company expects to incur Restructuring and other related charges of approximately $20 million during the remainder of 2013 related to these restructuring activities.

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Financial Instruments and Fair Value Measurements (Details) (USD $) In Thousands, unless otherwise specified	Jun. 28, 2013	Dec. 31, 2012
Cash and Cash Equivalents, Fair Value Disclosure	$ 328,536	$ 133,878
Deferred Compensation Plan Assets	2,684	2,542
Deferred Compensation Liability, Current and Noncurrent	2,684	2,542
Liability for contingent payments	3,387	6,517
Assets, Fair Value Disclosure	340,390	146,791
Liabilities, Fair Value Disclosure	16,172	13,734
Fair Value, Inputs, Level 1 [Member]
Cash and Cash Equivalents, Fair Value Disclosure	328,536	133,878
Assets, Fair Value Disclosure	328,536	133,878
Liabilities, Fair Value Disclosure	0	0
Fair Value, Inputs, Level 2 [Member]
Deferred Compensation Plan Assets	2,684	2,542
Deferred Compensation Liability, Current and Noncurrent	2,684	2,542
Assets, Fair Value Disclosure	11,854	12,913
Liabilities, Fair Value Disclosure	12,785	7,217
Fair Value, Inputs, Level 3 [Member]
Liability for contingent payments	3,387	6,517
Assets, Fair Value Disclosure	0	0
Liabilities, Fair Value Disclosure	3,387	6,517
Foreign currency contracts related to sales
Derivative Instruments in Hedges, Assets, at Fair Value	4,126	6,832
Foreign Currency Derivative Instruments Not Designated as Hedging Instruments, Asset at Fair Value	1,889	2,249
Derivative Instruments in Hedges, Liabilities, at Fair Value	4,911	1,024
Foreign Currency Derivative Instruments Not Designated as Hedging Instruments, Liability at Fair Value	2,619	1,693
Foreign currency contracts related to sales | Fair Value, Inputs, Level 2 [Member]
Derivative Instruments in Hedges, Assets, at Fair Value	4,126	6,832
Foreign Currency Derivative Instruments Not Designated as Hedging Instruments, Asset at Fair Value	1,889	2,249
Derivative Instruments in Hedges, Liabilities, at Fair Value	4,911	1,024
Foreign Currency Derivative Instruments Not Designated as Hedging Instruments, Liability at Fair Value	2,619	1,693
Foreign currency contracts related to purchases
Derivative Instruments in Hedges, Assets, at Fair Value	897	213
Foreign Currency Derivative Instruments Not Designated as Hedging Instruments, Asset at Fair Value	2,258	1,077
Derivative Instruments in Hedges, Liabilities, at Fair Value	762	896
Foreign Currency Derivative Instruments Not Designated as Hedging Instruments, Liability at Fair Value	1,809	1,062
Foreign currency contracts related to purchases | Fair Value, Inputs, Level 2 [Member]
Derivative Instruments in Hedges, Assets, at Fair Value	897	213
Foreign Currency Derivative Instruments Not Designated as Hedging Instruments, Asset at Fair Value	2,258	1,077
Derivative Instruments in Hedges, Liabilities, at Fair Value	762	896
Foreign Currency Derivative Instruments Not Designated as Hedging Instruments, Liability at Fair Value	$ 1,809	$ 1,062

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Equity (Details 1) (USD $) In Thousands, unless otherwise specified	3 Months Ended			6 Months Ended
	Jun. 28, 2013		Jun. 29, 2012	Jun. 28, 2013		Jun. 29, 2012
Pension and other post-retirement benefit cost:
Amounts Reclassified From Other Comprehensive Loss	$ 2,776			$ 5,511
Tax Benefit	(213)		35	(354)		(109)
Total	2,563		2,133	5,157		4,158
Amortization Of Net Loss [Member]
Pension and other post-retirement benefit cost:
Amounts Reclassified From Other Comprehensive Loss	2,714	[1]		5,387	[1]
Tax Benefit	(213)	[1]		(354)	[1]
Total	2,501	[1]		5,033	[1]
Amortization Of Prior Service Cost [Member]
Pension and other post-retirement benefit cost:
Amounts Reclassified From Other Comprehensive Loss	62	[1]		124	[1]
Tax Benefit	0	[1]		0	[1]
Total	$ 62	[1]		$ 124	[1]

[1] Included in the computation of net periodic benefit cost. See Note 10, “Net Periodic Benefit Cost - Defined Benefit Plans” for additional details

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Accrued Liabilities (Tables)

6 Months Ended

Jun. 28, 2013

Accrued Liabilities [Abstract]

Schedule of Accrued Liabilities [Table Text Block]

Accrued liabilities in the Condensed Consolidated Balance Sheets consisted of the following:

	June 28, 2013		December 31, 2012
	(In thousands)
Accrued payroll	$	101,911	$	99,583
Advance payment from customers	61,806		61,431
Accrued taxes	61,948		34,165
Accrued asbestos-related liability	63,299		58,501
Warranty liability - current portion	31,142		35,678
Accrued restructuring liability - current portion	13,255		25,406
Accrued third-party commissions	12,638		12,320
Other	93,542		120,136
Accrued liabilities	$	439,541	$	447,220

Schedule of Product Warranty Liability [Table Text Block]

The activity in the Company’s warranty liability consisted of the following:

	Six Months Ended
	June 28, 2013			June 29, 2012
	(In thousands)
Warranty liability, beginning of period	$	40,437		$	2,987
Accrued warranty expense	9,095			8,728
Changes in estimates related to pre-existing warranties	(816		)	511
Cost of warranty service work performed	(10,611		)	(12,139		)
Acquisitions	—			44,476
Foreign exchange translation effect	(1,142		)	(1,695		)
Warranty liability, end of period	$	36,963		$	42,868

Schedule of Restructuring Reserve by Type of Cost [Table Text Block]

A summary of the activity in the Company’s restructuring liability included in Accrued liabilities and Other liabilities in the Condensed Consolidated Balance Sheets is as follows:

	Six Months Ended June 28, 2013
	Balance at Beginning of Period		Provisions		Payments			Foreign Currency Translation			Balance at End of Period(3)
	(In thousands)
Restructuring and other related charges:
Gas and Fluid Handling:
Termination benefits(1)	$	3,060	$	1,465	$	(3,958	)	$	(66	)	$	501
Facility closure costs(2)	1,177		1		(282		)	(15		)	881
Other related charges	—		—		—			—			—
	4,237		1,466		(4,240		)	(81		)	1,382
Fabrication Technology:
Termination benefits(1)	14,637		5,201		(9,858		)	(103		)	$	9,877
Facility closure costs(2)	6,925		1,096		(5,622		)	(6		)	2,393
Other related charges	33		928		(914		)	(45		)	2
	21,595		7,225		(16,394		)	(154		)	12,272
Corporate and Other:
Termination benefits(1)	—		—		—			—			—
Facility closure costs(2)	1,522		—		(118		)	(100		)	1,304
Other related charges	—		—		—			—			—
	1,522		—		(118		)	(100		)	1,304
	$	27,354	$	8,691	$	(20,752	)	$	(335	)	$	14,958

⁽¹⁾ Includes severance and other termination benefits, including outplacement services. The Company recognizes the cost of involuntary

termination benefits at the communication date or ratably over any remaining expected future service period. Voluntary termination benefits

are recognized as a liability and an expense when employees accept the offer and the amount can be reasonably estimated.

⁽²⁾ Includes the cost of relocating associates, relocating equipment and lease termination expense in connection with the closure of facilities.

⁽³⁾ As of June 28, 2013, $13.3 million and $1.7 million of the Company’s restructuring liability was included in Accrued liabilities and Other

liabilities, respectively.

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Debt (Tables)

6 Months Ended

Jun. 28, 2013

Debt Disclosure [Abstract]

Schedule of Debt [Table Text Block]

Long-term debt consisted of the following:

	June 28, 2013			December 31, 2012
	(In thousands)
Term loans	$	1,467,405		$	1,682,177
Revolving credit facilities and other	38,537			46,134
Total Debt	1,505,942			1,728,311
Less: current portion	(95,029		)	(34,799		)
Long-term debt	$	1,410,913		$	1,693,512

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Accrued Liabilities (Details Textual) (USD $)	3 Months Ended
	Jun. 28, 2013	Dec. 31, 2012
Accrued Liabilities [Abstract]
Restructuring and Related Cost, Expected Cost	$ 20,000,000
Restructuring Reserve, Current	13,255,000	25,406,000
Restructuring Reserve, Noncurrent	$ 1,700,000

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Net Income (Loss) Per Share (Details) (USD $) In Thousands, except Share data, unless otherwise specified	3 Months Ended				6 Months Ended
	Jun. 28, 2013		Jun. 29, 2012		Jun. 28, 2013		Jun. 29, 2012
Earnings Per Share [Abstract]
Net income (loss) available to Colfax Corporation common shareholders	$ 53,306		$ 7,293		$ 75,859		$ (102,039)
Less: net income attributable to participating securities	(845)	[1]	(931)	[1]	(3,740)	[1]	0	[1]
Net income (loss) - basic	52,461		6,362		72,119		(102,039)
Weighted-average shares of Common stock outstanding-basic	98,219,835		93,953,620		96,257,214		87,973,900
Net income (loss) per share- basic	$ 0.53		$ 0.07		$ 0.75		$ (1.16)
Less: net income attributable to participating securities	0	[1],[2]	(931)	[1],[2]	(3,740)	[1],[2]	0	[1],[2]
Add: dividends on preferred stock	5,086	[2]	0	[2]	0	[2]	0	[2]
Net income (loss) - diluted	$ 58,392		$ 6,362		$ 72,119		$ (102,039)
Net effect of potentially dilutive securities - stock options and restricted stock units	1,129,832		779,544		1,027,823		0
Net effect of potentially dilutive securities - convertible preferred stock	12,173,291		0		0		0
Weighted-average shares of Common stock outstanding-diluted	111,522,958		94,733,164		97,285,037		87,973,900
Net income (loss) per share- diluted	$ 0.52		$ 0.07		$ 0.74		$ (1.16)

[1] Net income (loss) per share was calculated consistent with the two-class method in accordance with GAAP through April 23, 2013, as further discussed below.

[2] For periods subsequent to April 23, 2013, Net income (loss) per share - dilutive was calculated in accordance with the if-converted method, as further discussed below. However, for the six months ended June 28, 2013, the calculation under this method was anti-dilutive.

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Inventories, Net (Details) (USD $) In Thousands, unless otherwise specified	Jun. 28, 2013	Dec. 31, 2012
Inventory Disclosure [Abstract]
Raw materials	$ 137,859	$ 154,771
Work in process	98,945	99,459
Finished goods	252,074	263,211
Inventory, Gross	488,878	517,441
Less: customer progress billings	(9,839)	(14,571)
Less: allowance for excess, slow-moving and obsolete inventory	(11,767)	(9,221)
Inventories, net	$ 467,272	$ 493,649

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Financial Instruments and Fair Value Measurements (Details 1) (USD $) In Thousands, unless otherwise specified	Jun. 28, 2013	Dec. 31, 2012
Total foreign currency derivatives	$ 685,366	$ 698,528
Not Designated As Hedging Instrument [Member]
Foreign currency contracts sold	236,186	301,185
Foreign currency contracts purchased	188,545	121,741
Designated As Hedging Instrument [Member]
Foreign currency contracts sold	204,397	238,537
Foreign currency contracts purchased	$ 56,238	$ 37,065

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Segment Information (Tables)

6 Months Ended

Jun. 28, 2013

Segment Reporting [Abstract]

Schedule of Segment Reporting Information, by Segment [Table Text Block]

The Company’s segment results were as follows:

	Three Months Ended						Six Months Ended
	June 28, 2013			June 29, 2012			June 28, 2013			June 29, 2012
	(In thousands)
Net sales:
Gas and fluid handling	$	516,763		$	496,495		$	941,868		$	921,826
Fabrication technology	557,355			549,158			1,079,393			1,010,193
	$	1,074,118		$	1,045,653		$	2,021,261		$	1,932,019
Segment operating income (loss)(1):
Gas and fluid handling	$	69,440		$	45,112		$	111,928		$	64,921
Fabrication technology	59,427			45,411			103,895			62,407
Corporate and other	(12,738		)	(11,659		)	(23,153		)	(63,952		)
	$	116,129		$	78,864		$	192,670		$	63,376

⁽¹⁾ The following is a reconciliation of Income (loss) before income taxes to segment operating income:

	Three Months Ended				Six Months Ended
	June 28, 2013		June 29, 2012		June 28, 2013		June 29, 2012
	(In thousands)
Income (loss) before income taxes	$	93,598	$	34,565	$	142,636	$	(8,548	)
Interest expense	18,054		25,741		41,343		44,723
Restructuring and other related charges	4,477		18,558		8,691		27,201
Segment operating income	$	116,129	$	78,864	$	192,670	$	63,376

Revenue from External Customers by Products and Services [Table Text Block]

The detail of the Company’s Net sales by product type is as follows:

	Three Months Ended				Six Months Ended
	June 28, 2013		June 29, 2012		June 28, 2013		June 29, 2012
	(In thousands)
Gas handling	$	352,084	$	322,566	$	627,531	$	586,162
Fluid handling	164,679		173,929		314,337		335,664
Welding and cutting	557,355		549,158		1,079,393		1,010,193
Total Net sales	$	1,074,118	$	1,045,653	$	2,021,261	$	1,932,019

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Accrued Liabilities (Details) (USD $) In Thousands, unless otherwise specified	Jun. 28, 2013	Dec. 31, 2012
Accrued Liabilities [Abstract]
Accrued payroll	$ 101,911	$ 99,583
Advance payment from customers	61,806	61,431
Accrued taxes	61,948	34,165
Accrued asbestos-related liability	63,299	58,501
Warranty liability - current portion	31,142	35,678
Accrued restructuring liability - current portion	13,255	25,406
Accrued third-party commissions	12,638	12,320
Other	93,542	120,136
Accrued liabilities	$ 439,541	$ 447,220

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Inventories, Net (Tables)

6 Months Ended

Jun. 28, 2013

Inventory Disclosure [Abstract]

Schedule of Inventory, Current [Table Text Block]

Inventories, net consisted of the following:

	June 28, 2013			December 31, 2012
	(In thousands)
Raw materials	$	137,859		$	154,771
Work in process	98,945			99,459
Finished goods	252,074			263,211
	488,878			517,441
Less: customer progress billings	(9,839		)	(14,571		)
Less: allowance for excess, slow-moving and obsolete inventory	(11,767		)	(9,221		)
Inventories, net	$	467,272		$	493,649

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CONDENSED CONSOLIDATED BALANCE SHEETS [Parenthetical] (USD $) In Thousands, except Share data, unless otherwise specified	Jun. 28, 2013	Dec. 31, 2012
Trade receivables, allowance for doubtful accounts (in dollars)	$ 18,649	$ 16,464
Preferred Stock, par value (in dollars per share)	$ 0.001	$ 0.001
Preferred Stock, Shares Authorized	20,000,000	20,000,000
Preferred Stock, Shares Issued	13,877,552	13,877,552
Preferred Stock, Shares Outstanding	13,877,552	13,877,552
Common Stock, par value (in dollars per share)	$ 0.001	$ 0.001
Common Stock, Shares Authorized	400,000,000	400,000,000
Common Stock, Shares, Issued	101,785,010	94,067,418
Common Stock, Shares, Outstanding	101,785,010	94,067,418

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CONDENSED CONSOLIDATED STATEMENT OF EQUITY Statement of Stockholders' Equity [Parenthetical] (USD $) In Millions, unless otherwise specified	6 Months Ended
	Jun. 28, 2013
Statement of Stockholders' Equity [Parenthetical] [Abstract]
Equity Issuance Costs	$ 12.0

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Recently Issued Accounting Pronouncements

6 Months Ended

Jun. 28, 2013

Accounting Policies [Abstract]

New Accounting Pronouncements, Policy [Policy Text Block]

Recently Issued Accounting Pronouncements

In March 2013, the Financial Accounting Standards Board issued Accounting Standards Update (“ASU”) No. 2013-05, “Foreign Currency Matters (Topic 830)” (“ASU No. 2013-05”). ASU No. 2013-05 is intended to clarify the parent’s accounting for the cumulative translation adjustment upon the sale or transfer of a group of assets within a consolidated foreign entity. When a parent ceases to have a controlling financial interest in a subsidiary or group of assets within a foreign entity, the parent is required to release any related cumulative translation adjustment into Net income. ASU No. 2013-05 further clarifies the cumulative translation adjustment should be released into Net income only if the sale or transfer results in the complete or substantially complete liquidation of the foreign entity in which the subsidiary or group of assets had resided. ASU No. 2013-05 also clarifies application of this guidance to step acquisitions. ASU No. 2013-05 is effective prospectively for fiscal years beginning after December 15, 2013, with early adoption permitted. The Company will apply the provisions of ASU No. 2013-05 to future sales or transfers of assets of a consolidated foreign entity.

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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $) In Thousands, unless otherwise specified	6 Months Ended
	Jun. 28, 2013	Jun. 29, 2012
Statement of Cash Flows [Abstract]
Net income (loss)	$ 99,475	$ (81,829)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Depreciation, amortization and fixed asset impairment charges	65,766	105,027
Stock-based compensation expense	6,147	3,988
Deferred income tax provision	4,622	46,566
Changes in operating assets and liabilities, net of acquisitions:
Trade receivables, net	(86,098)	(100,930)
Inventories, net	4,417	(40,464)
Accounts payable	35,599	12,116
Changes in other operating assets and liabilities	(44,246)	24,475
Net cash provided by (used in) operating activities	85,682	(31,051)
Cash flows from investing activities:
Purchases of fixed assets, net	(35,643)	(41,012)
Acquisitions, net of cash received	0	(1,661,650)
Net cash used in investing activities	(35,643)	(1,702,662)
Cash flows from financing activities:
Borrowings under term credit facility	50,861	1,731,523
Payments under term credit facility	(274,695)	(518,849)
Proceeds from borrowings on revolving credit facilities	182,590	13,149
Repayments of borrowings on revolving credit facilities	(190,187)	(51,378)
Payments of deferred loan costs	(2,556)	(8,516)
Proceeds from issuance of common stock, net	322,812	753,986
Proceeds from issuance of preferred stock, net	0	332,969
ESAB India repurchase of additional noncontrolling interest	0	(29,291)
Distributions to noncontrolling owners	(5,115)	(1,080)
Contingent payment on acquisition	(3,500)	0
Payments of dividend on preferred stock	(10,168)	(7,246)
Net cash provided by financing activities	70,042	2,215,267
Effect of foreign exchange rates on Cash and cash equivalents	(14,593)	(17,706)
Increase in Cash and cash equivalents	105,488	463,848
Cash and cash equivalents, beginning of period	482,449	75,108
Cash and cash equivalents, end of period	$ 587,937	$ 538,956

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Debt (Details) (USD $) In Thousands, unless otherwise specified	Jun. 28, 2013	Dec. 31, 2012
Debt Instrument [Line Items]
Total Debt	$ 1,505,942	$ 1,728,311
Less: current portion	(95,029)	(34,799)
Long-term debt	1,410,913	1,693,512
Term loans [Member]
Debt Instrument [Line Items]
Total Debt	1,467,405	1,682,177
Revolving credit facilities and other [Member]
Debt Instrument [Line Items]
Total Debt	$ 38,537	$ 46,134

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Net Periodic Benefit Cost-Defined Benefit Plans (Tables)

6 Months Ended

Jun. 28, 2013

Compensation and Retirement Disclosure [Abstract]

Schedule of Net Benefit Costs [Table Text Block]

The following table sets forth the components of net periodic benefit cost of the defined benefit pension plans and the Company’s other post-retirement employee benefit plans:

	Three Months Ended						Six Months Ended
	June 28, 2013			June 29, 2012			June 28, 2013			June 29, 2012
	(In thousands)
Pension Benefits-U.S. Plans:
Service cost	$	—		$	—		$	—		$	—
Interest cost	4,450			4,660			8,774			9,345
Expected return on plan assets	(6,228		)	(6,012		)	(12,419		)	(12,043		)
Amortization	1,963			1,854			3,927			3,600
Net periodic benefit cost	$	185		$	502		$	282		$	902
Pension Benefits-Non U.S. Plans:
Service cost	$	862		$	728		$	1,822		$	1,560
Interest cost	11,498			8,147			22,204			16,101
Expected return on plan assets	(8,669		)	(4,732		)	(16,490		)	(9,490		)
Amortization	636			190			1,231			380
Net periodic benefit cost	$	4,327		$	4,333		$	8,767		$	8,551
Other Post-Retirement Benefits:
Service cost	$	28		$	63		$	135		$	102
Interest cost	285			313			457			639
Amortization	177			233			353			466
Net periodic benefit cost	$	490		$	609		$	945		$	1,207

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General (Details Textual)	3 Months Ended	6 Months Ended
	Mar. 29, 2013 USD ($)	Jun. 28, 2013 VEF	Jun. 28, 2013 USD ($)
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Foregin Currency Exchange Rate Bolivar Fuerte		6.3
Amount Recognized in Income Due to Inflationary Accounting	2,900,000
Devaluation Of Foreign Currency		32.00%
Net Monetary Assets Of Subsidiary			$ 5,900,000

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Equity (Details) (USD $) In Thousands, unless otherwise specified	3 Months Ended		6 Months Ended
	Jun. 28, 2013	Jun. 29, 2012	Jun. 28, 2013	Jun. 29, 2012
Changes in Accumulated Other Comprehensive Loss [Line Items]
Beginning Balance			$ (146,594)
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Adjustment, Net of Tax, Portion Attributable to Parent			(154,230)
Loss on long-term intra entity foreign currency transactions			(7,299)
Gain on net investment hedges			7,263
Unrealized loss on cash flow hedges			(3,764)
Other Comprehensive (Loss) Income Loss Before Reclassifications Net Of Tax			(158,030)
Amounts reclassified from Accumulated other comprehensive loss			5,157
Other comprehensive (loss) income attributable to Colfax Corporation	(35,023)	(91,248)	(152,873)	26,330
Ending balance	(299,467)		(299,467)
Pension and Other Postretirement Benefit Plans Defined Benefit [Member]
Changes in Accumulated Other Comprehensive Loss [Line Items]
Beginning Balance			(247,332)
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Adjustment, Net of Tax, Portion Attributable to Parent			0
Loss on long-term intra entity foreign currency transactions			0
Gain on net investment hedges			0
Unrealized loss on cash flow hedges			0
Other Comprehensive (Loss) Income Loss Before Reclassifications Net Of Tax			0
Amounts reclassified from Accumulated other comprehensive loss			5,157
Other comprehensive (loss) income attributable to Colfax Corporation			5,157
Ending balance	(242,175)		(242,175)
Accumulated Translation Adjustment [Member]
Changes in Accumulated Other Comprehensive Loss [Line Items]
Beginning Balance			104,718
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Adjustment, Net of Tax, Portion Attributable to Parent			(154,230)
Loss on long-term intra entity foreign currency transactions			(7,299)
Gain on net investment hedges			0
Unrealized loss on cash flow hedges			0
Other Comprehensive (Loss) Income Loss Before Reclassifications Net Of Tax			(161,529)
Amounts reclassified from Accumulated other comprehensive loss			0
Other comprehensive (loss) income attributable to Colfax Corporation			(161,529)
Ending balance	(56,811)		(56,811)
Unrealized Gain (Loss) on Hedging Activities [Member]
Changes in Accumulated Other Comprehensive Loss [Line Items]
Beginning Balance			(3,980)
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Adjustment, Net of Tax, Portion Attributable to Parent			0
Loss on long-term intra entity foreign currency transactions			0
Gain on net investment hedges			7,263
Unrealized loss on cash flow hedges			(3,764)
Other Comprehensive (Loss) Income Loss Before Reclassifications Net Of Tax			3,499
Amounts reclassified from Accumulated other comprehensive loss			0
Other comprehensive (loss) income attributable to Colfax Corporation			3,499
Ending balance	$ (481)		$ (481)

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Commitments and Contingencies (Details Textual)	6 Months Ended
	Jun. 28, 2013
Future Claims Period	15 years

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Financial Instruments and Fair Value Measurements (Details 2) (USD $) In Thousands, unless otherwise specified	3 Months Ended		6 Months Ended
	Jun. 28, 2013	Jun. 29, 2012	Jun. 28, 2013	Jun. 29, 2012
Designated As Hedging Instrument [Member] | Interest Rate Swap [Member]
Derivative Instruments, Gain (Loss) Recognized in Income, Net	$ 0	$ 0	$ 0	$ (471)
Designated As Hedging Instrument [Member] | Foreign currency contracts related to sales
Unrealized Gain (Loss) on Derivatives	407	(3,557)	(590)	(2,248)
Foreign Currency Transaction Gain (Loss), Realized	386	75	(3,471)	(680)
Designated As Hedging Instrument [Member] | Foreign currency contracts related to purchases
Unrealized Gain (Loss) on Derivatives	(110)	(243)	(1,053)	(849)
Foreign Currency Transaction Gain (Loss), Realized	(160)	325	1,501	235
Designated As Hedging Instrument [Member] | Net Investment Hedging [Member]
Unrealized Gain (Loss) on Derivatives	1,567	9,875	7,263	(4)
Not Designated As Hedging Instrument [Member] | Foreign currency contracts related to sales
Unrealized Gain (Loss) on Derivatives	(1,733)	(4,856)	(489)	(1,620)
Foreign Currency Transaction Gain (Loss), Realized	440	(67)	(1,972)	910
Not Designated As Hedging Instrument [Member] | Foreign currency contracts related to purchases
Unrealized Gain (Loss) on Derivatives	1,777	2,719	867	226
Foreign Currency Transaction Gain (Loss), Realized	(1,028)	(151)	506	(34)
Not Designated As Hedging Instrument [Member] | Acquisition Related [Member]
Foreign Currency Transaction Gain (Loss), Realized	$ 0	$ 0	$ 0	$ (7,177)

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Accrued Liabilities (Details 2) (USD $) In Thousands, unless otherwise specified	6 Months Ended
	Jun. 28, 2013
Balance at Beginning of Period	$ 27,354
Provisions	8,691
Payments	(20,752)
Foreign Currency Translation	(335)
Balance at End of Period	14,958	[1]
Gas and Fluid Handling [Member]
Balance at Beginning of Period	4,237
Provisions	1,466
Payments	(4,240)
Foreign Currency Translation	(81)
Balance at End of Period	1,382	[1]
Fabrication Technology [Member]
Balance at Beginning of Period	21,595
Provisions	7,225
Payments	(16,394)
Foreign Currency Translation	(154)
Balance at End of Period	12,272	[1]
Corporate and Other [Member]
Balance at Beginning of Period	1,522
Provisions	0
Payments	(118)
Foreign Currency Translation	(100)
Balance at End of Period	1,304	[1]
Employee Severance [Member] | Gas and Fluid Handling [Member]
Balance at Beginning of Period	3,060	[2]
Provisions	1,465	[2]
Payments	(3,958)	[2]
Foreign Currency Translation	(66)	[2]
Balance at End of Period	501	[1],[2]
Employee Severance [Member] | Fabrication Technology [Member]
Balance at Beginning of Period	14,637	[2]
Provisions	5,201	[2]
Payments	(9,858)	[2]
Foreign Currency Translation	(103)	[2]
Balance at End of Period	9,877	[1],[2]
Employee Severance [Member] | Corporate and Other [Member]
Balance at Beginning of Period	0	[2]
Provisions	0	[2]
Payments	0	[2]
Foreign Currency Translation	0	[2]
Balance at End of Period	0	[1],[2]
Facility Closing [Member] | Gas and Fluid Handling [Member]
Balance at Beginning of Period	1,177	[3]
Provisions	1	[3]
Payments	(282)	[3]
Foreign Currency Translation	(15)	[3]
Balance at End of Period	881	[1],[3]
Facility Closing [Member] | Fabrication Technology [Member]
Balance at Beginning of Period	6,925	[3]
Provisions	1,096	[3]
Payments	(5,622)	[3]
Foreign Currency Translation	(6)	[3]
Balance at End of Period	2,393	[1],[3]
Facility Closing [Member] | Corporate and Other [Member]
Balance at Beginning of Period	1,522	[3]
Provisions	0	[3]
Payments	(118)	[3]
Foreign Currency Translation	(100)	[3]
Balance at End of Period	1,304	[1],[3]
Other Restructuring [Member] | Gas and Fluid Handling [Member]
Balance at Beginning of Period	0
Provisions	0
Payments	0
Foreign Currency Translation	0
Balance at End of Period	0	[1]
Other Restructuring [Member] | Fabrication Technology [Member]
Balance at Beginning of Period	33
Provisions	928
Payments	(914)
Foreign Currency Translation	(45)
Balance at End of Period	2	[1]
Other Restructuring [Member] | Corporate and Other [Member]
Balance at Beginning of Period	0
Provisions	0
Payments	0
Foreign Currency Translation	0
Balance at End of Period	$ 0	[1]

[1] As of June 28, 2013, $13.3 million and $1.7 million of the Company’s restructuring liability was included in Accrued liabilities and Other liabilities, respectively.

[2] Includes severance and other termination benefits, including outplacement services. The Company recognizes the cost of involuntary termination benefits at the communication date or ratably over any remaining expected future service period. Voluntary termination benefits are recognized as a liability and an expense when employees accept the offer and the amount can be reasonably estimated.

[3] Includes the cost of relocating associates, relocating equipment and lease termination expense in connection with the closure of facilities.

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CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (USD $) In Thousands, unless otherwise specified	3 Months Ended		6 Months Ended
	Jun. 28, 2013	Jun. 29, 2012	Jun. 28, 2013	Jun. 29, 2012
Statement of Other Comprehensive Income [Abstract]
Net income (loss) attributable to Colfax Corporation	$ 58,392	$ 12,366	$ 86,027	$ (93,232)
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Adjustment, Net of Tax, Portion Attributable to Parent			(154,230)
Other comprehensive (loss) income:
Foreign currency translation, net of tax of $(475), $136, $(624), $60	(41,833)	(111,680)	(173,953)	22,330
Unrealized (loss) gain on hedging activities, net of tax of $0, $(463), $(643) and ($192)	(4,339)	6,028	3,425	(1,959)
Amounts reclassified to net income (loss):
Realized gain on hedging activities, net of tax of $0, $0, $0 and $0	0	0	0	471
Net pension and other postretirement benefit cost, net of tax of $213, $(35), $354 and $109	2,563	2,133	5,157	4,158
Other comprehensive (loss) income	(43,609)	(103,519)	(165,371)	25,000
Less: other comprehensive loss attributable to noncontrolling interest net of tax of $0, $0, $0 and $0	(8,586)	(12,271)	(12,498)	(1,330)
Other comprehensive (loss) income attributable to Colfax Corporation	(35,023)	(91,248)	(152,873)	26,330
Comprehensive income (loss) attributable to Colfax Corporation	$ 23,369	$ (78,882)	$ (66,846)	$ (66,902)

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Income Taxes

6 Months Ended

Jun. 28, 2013

Income Tax Disclosure [Abstract]

Income Tax Disclosure [Text Block]

Income Taxes

During the three months ended June 28, 2013, Income before income taxes was $93.6 million and the Provision for income taxes was $26.4 million. The effective tax rate of 28.2% for the three months ended June 28, 2013 differs from the U.S. federal statutory rate primarily due to international tax rates, which are lower than the U.S. tax rate, and resolution of a liability for unrecognized tax benefits resulting in a gain of $2.3 million offset in part by losses in certain jurisdictions where a tax benefit is not expected to be recognized in 2013.

During the six months ended June 28, 2013, Income before income taxes was $142.6 million and the Provision for income taxes was $43.2 million. The effective tax rate of 30.3% for the six months ended June 28, 2013 differs from the U.S. federal statutory rate primarily due to international tax rates, which are lower than the U.S. tax rate, and the resolution of a liability for unrecognized tax benefits resulting in a gain of $2.3 million offset in part by losses in certain jurisdictions where a tax benefit is not expected to be recognized in 2013.

During the three months ended June 29, 2012, Income before income taxes was $34.6 million and the Provision for income taxes was $15.9 million. The Provision for income taxes for the three months ended June 29, 2012 was significantly impacted by increased corporate overhead and Interest expense related to the combined organization reflected in the Condensed Consolidated Statement of Operations, which were incurred in jurisdictions where no tax benefit can be recognized.

During the six months ended June 29, 2012, Loss before income taxes was $8.5 million and the Provision for income taxes was $73.3 million. The provision was impacted by two significant items. Upon completion of the Charter Acquisition, certain deferred tax assets existing at that date were reassessed in light of the impact of the acquired businesses on expected future income or loss by country and future tax planning, including the impact of the post-acquisition capital structure. This assessment resulted in an increase in the Company’s valuation allowance to provide full valuation allowances against U.S. deferred tax assets. The increased valuation allowances resulted in an increase to the Provision for income taxes for the six months ended June 29, 2012 of $50.3 million. In addition, $43.6 million of Charter acquisition-related expense and increased corporate overhead and Interest expense reflected in the Condensed Consolidated Statement of Operations are either non-deductible or were incurred in jurisdictions where no tax benefit can be recognized. These two items are the principal cause of tax provision rather than the tax benefit which would result from the application of the U.S. federal statutory rate to the reported net loss.

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CONDENSED CONSOLIDATED BALANCE SHEETS (USD $) In Thousands, unless otherwise specified	Jun. 28, 2013	Dec. 31, 2012
ASSETS
Cash and cash equivalents	$ 587,937	$ 482,449
Trade receivables, less allowance for doubtful accounts of $18,649 and $16,464	933,706	873,382
Inventories, net	467,272	493,649
Other current assets	298,026	282,266
Total current assets	2,286,941	2,131,746
Property, plant and equipment, net	661,329	688,570
Goodwill	1,975,824	2,098,836
Intangible assets, net	720,734	779,049
Other assets	449,572	450,086
Total assets	6,094,400	6,148,287
LIABILITIES AND EQUITY
Current portion of long-term debt	95,029	34,799
Accounts payable	714,406	699,626
Accrued liabilities	439,541	447,220
Total current liabilities	1,248,976	1,181,645
Long-term debt, less current portion	1,410,913	1,693,512
Other liabilities	1,030,445	1,116,844
Total liabilities	3,690,334	3,992,001
Equity:
Preferred stock, $0.001 par value; 20,000,000 shares authorized; 13,877,552 issued and outstanding	14	14
Common stock, $0.001 par value; 400,000,000 shares authorized; 101,785,010 and 94,067,418 issued and outstanding	102	94
Additional paid-in capital	2,526,645	2,197,694
Accumulated deficit	(62,997)	(138,856)
Accumulated other comprehensive loss	(299,467)	(146,594)
Total Colfax Corporation equity	2,164,297	1,912,352
Noncontrolling interest	239,769	243,934
Total equity	2,404,066	2,156,286
Total liabilities and equity	$ 6,094,400	$ 6,148,287

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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (USD $) In Thousands, except Per Share data, unless otherwise specified	3 Months Ended		6 Months Ended
	Jun. 28, 2013	Jun. 29, 2012	Jun. 28, 2013	Jun. 29, 2012
Income Statement [Abstract]
Net sales	$ 1,074,118	$ 1,045,653	$ 2,021,261	$ 1,932,019
Cost of sales	736,296	730,791	1,392,714	1,375,451
Gross profit	337,822	314,862	628,547	556,568
Selling, general and administrative expense	221,225	231,992	433,703	444,048
Charter acquisition-related expense	0	766	0	43,617
Restructuring and other related charges	4,477	18,558	8,691	27,201
Asbestos coverage litigation expense	468	3,240	2,174	5,527
Operating income	111,652	60,306	183,979	36,175
Interest expense	18,054	25,741	41,343	44,723
Income (loss) before income taxes	93,598	34,565	142,636	(8,548)
Provision for income taxes	26,398	15,933	43,161	73,281
Net income (loss)	67,200	18,632	99,475	(81,829)
Less: income attributable to noncontrolling interest, net of taxes	8,808	6,266	13,448	11,403
Net income (loss) attributable to Colfax Corporation	58,392	12,366	86,027	(93,232)
Dividends on preferred stock	5,086	5,073	10,168	8,807
Net income (loss) available to Colfax Corporation common shareholders	$ 53,306	$ 7,293	$ 75,859	$ (102,039)
Net income (loss) per share- basic	$ 0.53	$ 0.07	$ 0.75	$ (1.16)
Net income (loss) per share- diluted	$ 0.52	$ 0.07	$ 0.74	$ (1.16)

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Financial Instruments and Fair Value Measurements (Details 3) (USD $) In Thousands, unless otherwise specified	6 Months Ended
	Jun. 28, 2013	Jun. 29, 2012
Liability for contingent payments, Beginning balance	$ 6,517
Interest Accretion	370
Cash payment	(3,500)	0
Liability for contingent payments, Ending balance	$ 3,387

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Financial Instruments and Fair Value Measurements (Tables)

6 Months Ended

Jun. 28, 2013

Financial Instruments and Fair Value Measurements [Abstract]

Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block]

A summary of the Company’s assets and liabilities that are measured at fair value for each fair value hierarchy level for the periods presented is as follows:

	June 28, 2013
	Level One		Level Two		Level Three		Total
	(In thousands)
Assets:
Cash equivalents	$	328,536	$	—	$	—	$	328,536
Foreign currency contracts related to sales - designated as hedges	—		4,126		—		4,126
Foreign currency contracts related to sales - not designated as hedges	—		1,889		—		1,889
Foreign currency contracts related to purchases - designated as hedges	—		897		—		897
Foreign currency contracts related to purchases - not designated as hedges	—		2,258		—		2,258
Deferred compensation plans	—		2,684		—		2,684
	$	328,536	$	11,854	—		$	340,390
Liabilities:
Foreign currency contracts related to sales - designated as hedges	$	—	$	4,911	$	—	$	4,911
Foreign currency contracts related to sales - not designated as hedges	—		2,619		—		2,619
Foreign currency contracts related to purchases - designated as hedges	—		762		—		762
Foreign currency contracts related to purchases - not designated as hedges	—		1,809		—		1,809
Deferred compensation plans	—		2,684		—		2,684
Liability for contingent payments	—		—		3,387		3,387
	$	—	$	12,785	$	3,387	$	16,172

	December 31, 2012
	Level One		Level Two		Level Three		Total
	(In thousands)
Assets:
Cash equivalents	$	133,878	$	—	$	—	$	133,878
Foreign currency contracts related to sales - designated as hedges	—		6,832		—		6,832
Foreign currency contracts related to sales - not designated as hedges	—		2,249		—		2,249
Foreign currency contracts related to purchases - designated as hedges	—		213		—		213
Foreign currency contracts related to purchases - not designated as hedges	—		1,077		—		1,077
Deferred compensation plans	—		2,542		—		2,542
	$	133,878	$	12,913	—		$	146,791
Liabilities:
Foreign currency contracts related to sales - designated as hedges	$	—	$	1,024	$	—	$	1,024
Foreign currency contracts related to sales - not designated as hedges	—		1,693		—		1,693
Foreign currency contracts related to purchases - designated as hedges	—		896		—		896
Foreign currency contracts related to purchases - not designated as hedges	—		1,062		—		1,062
Deferred compensation plans	—		2,542		—		2,542
Liability for contingent payments	—		—		6,517		6,517
	$	—	$	7,217	$	6,517	$	13,734

Schedule of Foreign Exchange Contracts, Statement of Financial Position [Table Text Block]

Foreign Currency Contracts. As of June 28, 2013 and December 31, 2012, the Company had foreign currency contracts with the following notional values:

	June 28, 2013		December 31, 2012
	(In thousands)
Foreign currency contracts sold - not designated as hedges	$	236,186	$	301,185
Foreign currency contracts sold - designated as hedges	204,397		238,537
Foreign currency contracts purchased - not designated as hedges	188,545		121,741
Foreign currency contracts purchased - designated as hedges	56,238		37,065
Total foreign currency derivatives	$	685,366	$	698,528

Schedule of Derivative Instruments, Gain (Loss) in Statement of Financial Performance [Table Text Block]

The Company recognized the following in its Condensed Consolidated Financial Statements related to its derivative instruments:

	Three Months Ended						Six Months Ended
	June 28, 2013			June 29, 2012			June 28, 2013			June 29, 2012
	(In thousands)
Contracts Designated as Hedges:
Interest Rate Swap:
Realized loss	$	—		$	—		$	—		$	(471	)
Foreign Currency Contracts - related to customer sales contracts:
Unrealized gain (loss)	407			(3,557		)	(590		)	(2,248		)
Realized gain (loss)	386			75			(3,471		)	(680		)
Foreign Currency Contracts - related to supplier purchase contracts:
Unrealized loss	(110		)	(243		)	(1,053		)	(849		)
Realized (loss) gain	(160		)	325			1,501			235
Unrealized gain (loss) on net investment hedges	1,567			9,875			7,263			(4		)
Contracts Not Designated in a Hedge Relationship:
Foreign Currency Contracts - acquisition-related:
Realized loss	—			—			—			(7,177		)
Foreign Currency Contracts - related to customer sales contracts:
Unrealized loss	(1,733		)	(4,856		)	(489		)	(1,620		)
Realized gain (loss)	440			(67		)	(1,972		)	910
Foreign Currency Contracts - related to supplier purchases contracts:
Unrealized gain	1,777			2,719			867			226
Realized (loss) gain	(1,028		)	(151		)	506			(34		)

Schedule of Business Acquisitions by Acquisition, Contingent Consideration [Table Text Block]

A summary of activity in the Company’s liability for contingent payments during the six months ended June 28, 2013 is as follows:

	(In thousands)
Balance at January 1, 2013	$	6,517
Interest accretion	370
Cash payment	(3,500		)
Balance at June 28, 2013	$	3,387

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Net Income (Loss) Per Share (Tables)

6 Months Ended

Jun. 28, 2013

Earnings Per Share [Abstract]

Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]

Net income (loss) per share available to Colfax Corporation common shareholders was computed as follows:

	Three Months Ended						Six Months Ended
	June 28, 2013			June 29, 2012			June 28, 2013			June 29, 2012
	(In thousands, except share data)
Computation of Net income (loss) per share - basic:
Net income (loss) available to Colfax Corporation common shareholders	$	53,306		$	7,293		$	75,859		$	(102,039	)
Less: net income attributable to participating securities(1)	(845		)	(931		)	(3,740		)	—
	$	52,461		$	6,362		$	72,119		$	(102,039	)
Weighted-average shares of Common stock outstanding-basic	98,219,835			93,953,620			96,257,214			87,973,900
Net income (loss) per share - basic	$	0.53		$	0.07		$	0.75		$	(1.16	)
Computation of Net income (loss) per share - diluted:
Net income (loss) available to Colfax Corporation common shareholders	$	53,306		$	7,293		$	75,859		$	(102,039	)
Less: net income attributable to participating securities(1)(2)	—			(931		)	(3,740		)	—
Add: dividends on preferred stock(2)	5,086			—			—			—
	$	58,392		$	6,362		$	72,119		$	(102,039	)
Weighted-average shares of Common stock outstanding-basic	98,219,835			93,953,620			96,257,214			87,973,900
Net effect of potentially dilutive securities - stock options and restricted stock units	1,129,832			779,544			1,027,823			—
Net effect of potentially dilutive securities - convertible preferred stock	12,173,291			—			—			—
Weighted-average shares of Common stock outstanding-diluted	111,522,958			94,733,164			97,285,037			87,973,900
Net income (loss) per share - diluted	$	0.52		$	0.07		$	0.74		$	(1.16	)

⁽¹⁾ Net income (loss) per share was calculated consistent with the two-class method in accordance with GAAP through April 23, 2013, as further discussed below.

⁽²⁾ For periods subsequent to April 23, 2013, Net income (loss) per share - dilutive was calculated in accordance with the if-converted method, as further discussed below. However, for the six months ended June 28, 2013, the calculation under this method was anti-dilutive.

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Accrued Liabilities (Details 1) (USD $) In Thousands, unless otherwise specified	6 Months Ended
	Jun. 28, 2013	Jun. 29, 2012
Movement in Standard Product Warranty Accrual [Roll Forward]
Warranty liability, beginning of period	$ 40,437	$ 2,987
Accrued warranty expense	9,095	8,728
Changes in estimates related to pre-existing warranties	(816)	511
Cost of warranty service work performed	(10,611)	(12,139)
Acquisitions	0	44,476
Foreign exchange translation effect	(1,142)	(1,695)
Warranty liability, end of period	$ 36,963	$ 42,868

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Commitments and Contingencies (Details 1) (USD $) In Thousands, unless otherwise specified	Jun. 28, 2013		Dec. 31, 2012
Current asbestos insurance asset(1)	$ 35,192	[1]	$ 35,566	[1]
Current asbestos insurance receivable(1)	48,147	[1]	36,778	[1]
Long-term asbestos insurance asset(2)	300,021	[2]	315,363	[2]
Long-term asbestos insurance receivable(2)	14,482	[2]	7,063	[2]
Accrued asbestos liability(3)	63,299	[3]	58,501	[3]
Long-term asbestos liability(4)	$ 359,763	[4]	$ 375,493	[4]

[1] Included in Other current assets in the Condensed Consolidated Balance Sheets.

[2] Included in Other assets in the Condensed Consolidated Balance Sheets.

[3] Represents current reserves for probable and reasonably estimable asbestos-related liability cost that the Company believes the subsidiaries will pay through the next 15 years, overpayments by certain insurers and unpaid legal costs related to defending themselves against asbestos-related liability claims and legal action against the Company’s insurers, which is included in Accrued liabilities in the Condensed Consolidated Balance Sheets.

[4] Included in Other liabilities in the Condensed Consolidated Balance Sheets.

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Equity Textuals (Details) (USD $) Share data in Thousands, unless otherwise specified	3 Months Ended		6 Months Ended
	Jun. 28, 2013	Jun. 29, 2012	Jun. 28, 2013	Jun. 29, 2012
Equity Text [Abstract]
Stock Issued During Period, Shares, New Issues			7,500
Stock Issued During Period, Value, New Issues			$ 331,900,000
Equity Issuance Costs			12,000,000
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Noncontrolling Interest	$ (8,586,000)	$ (12,271,000)	$ (12,498,000)	$ (1,330,000)

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Net Income (Loss) Per Share (Details Textual) In Millions, unless otherwise specified	3 Months Ended		6 Months Ended
	Jun. 28, 2013	Jun. 29, 2012	Jun. 28, 2013	Jun. 29, 2012
Earnings Per Share [Abstract]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Preferred, Amount			12.2
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	0.5	1.4	0.7	2.9

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Income Taxes (Details Textual) (USD $) In Thousands, unless otherwise specified	3 Months Ended		6 Months Ended
	Jun. 28, 2013	Jun. 29, 2012	Jun. 28, 2013	Jun. 29, 2012
Income Tax Disclosure [Abstract]
Income (loss) before income taxes	$ 93,598	$ 34,565	$ 142,636	$ (8,548)
Provision for income taxes	26,398	15,933	43,161	73,281
Increase (Decrease) in Income Taxes				50,300
Effective Income Tax Rate, Continuing Operations	28.20%		30.30%
Unrecognized Tax Benefits, Decreases Resulting from Prior Period Tax Positions	2,300		2,300
Charter acquisition-related expense	$ 0	$ 766	$ 0	$ 43,617

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Net Income (Loss) Per Share

6 Months Ended

Jun. 28, 2013

Earnings Per Share [Abstract]

Earnings Per Share [Text Block]

Net Income (Loss) Per Share

Net income (loss) per share available to Colfax Corporation common shareholders was computed as follows:

	Three Months Ended						Six Months Ended
	June 28, 2013			June 29, 2012			June 28, 2013			June 29, 2012
	(In thousands, except share data)
Computation of Net income (loss) per share - basic:
Net income (loss) available to Colfax Corporation common shareholders	$	53,306		$	7,293		$	75,859		$	(102,039	)
Less: net income attributable to participating securities(1)	(845		)	(931		)	(3,740		)	—
	$	52,461		$	6,362		$	72,119		$	(102,039	)
Weighted-average shares of Common stock outstanding-basic	98,219,835			93,953,620			96,257,214			87,973,900
Net income (loss) per share - basic	$	0.53		$	0.07		$	0.75		$	(1.16	)
Computation of Net income (loss) per share - diluted:
Net income (loss) available to Colfax Corporation common shareholders	$	53,306		$	7,293		$	75,859		$	(102,039	)
Less: net income attributable to participating securities(1)(2)	—			(931		)	(3,740		)	—
Add: dividends on preferred stock(2)	5,086			—			—			—
	$	58,392		$	6,362		$	72,119		$	(102,039	)
Weighted-average shares of Common stock outstanding-basic	98,219,835			93,953,620			96,257,214			87,973,900
Net effect of potentially dilutive securities - stock options and restricted stock units	1,129,832			779,544			1,027,823			—
Net effect of potentially dilutive securities - convertible preferred stock	12,173,291			—			—			—
Weighted-average shares of Common stock outstanding-diluted	111,522,958			94,733,164			97,285,037			87,973,900
Net income (loss) per share - diluted	$	0.52		$	0.07		$	0.74		$	(1.16	)

⁽¹⁾ Net income (loss) per share was calculated consistent with the two-class method in accordance with GAAP through April 23, 2013, as further discussed below.

⁽²⁾ For periods subsequent to April 23, 2013, Net income (loss) per share - dilutive was calculated in accordance with the if-converted method, as further discussed below. However, for the six months ended June 28, 2013, the calculation under this method was anti-dilutive.

On April 23, 2013, the Company and BDT CF Acquisition Vehicle, LLC amended the Certificate for Designations of Series A Perpetual Convertible Preferred Stock of Colfax Corporation to eliminate the right of the Series A Preferred Stock to share proportionately in any dividends or distributions made in respect of the Company’s Common stock. BDT CF Acquisition Vehicle is the sole holder of all issued and outstanding shares of the Company’s Series A Convertible Preferred Stock. For periods prior to April 23, 2013, Net income available to Colfax Corporation common shareholders was allocated to participating securities, while any losses for those periods were not allocated to the participating securities. Effective April 23, 2013, the Company’s Series A Convertible Preferred Stock is no longer considered a participating security. For periods subsequent to April 23, 2013, the Company’s Net income (loss) per share - dilutive is computed using the “if-converted” method. Under the “if-converted” method, Net income (loss) per share - dilutive is calculated under the assumption that the Series A Convertible Preferred Stock have been converted into shares of Common stock as of the beginning of the respective period. For the six months ended June 28, 2013, the weighted-average computation of the dilutive effect of potentially issuable shares of Common stock excludes 12.2 million shares assuming that the Series A Preferred Stock have been converted, as inclusion of such shares would be anti-dilutive.

The weighted-average computation of the dilutive effect of potentially issuable shares of Common stock under the treasury stock method for the three months ended June 28, 2013 and June 29, 2012 excludes approximately 0.5 million and 1.4 million outstanding stock-based compensation awards, respectively, as their inclusion would be anti-dilutive. The weighted-average computation of the dilutive effect of potentially issuable shares of Common stock under the treasury stock method for the six months ended June 28, 2013 and June 29, 2012 excludes approximately 0.7 million and 2.9 million outstanding stock-based compensation awards, respectively, as their inclusion would be anti-dilutive.

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Commitments and Contingencies (Tables)

6 Months Ended

Jun. 28, 2013

Commitments and Contingencies Disclosure [Abstract]

Schedule Of Loss Contingencies By Claims Quantities [Table Text Block]

Claims activity since December 31 related to asbestos claims is as follows⁽¹⁾:

	Six Months Ended
	June 28, 2013		June 29, 2012
	(Number of claims)
Claims unresolved, beginning of period	23,523		25,281
Claims filed(2)	2,298		2,257
Claims resolved(3)	(3,188	)	(1,998	)
Claims unresolved, end of period	22,633		25,540

⁽¹⁾ Excludes claims filed by one legal firm that have been “administratively dismissed.”

⁽²⁾ Claims filed include all asbestos claims for which notification has been received or a file has been opened.

⁽³⁾ Claims resolved include all asbestos claims that have been settled, dismissed or that are in the process of being settled or dismissed based

upon agreements or understandings in place with counsel for the claimants.

Schedule Of Asbestos Related Litigation [Table Text Block]

The Company’s Condensed Consolidated Balance Sheets included the following amounts related to asbestos-related litigation:

	June 28, 2013		December 31, 2012
	(In thousands)
Current asbestos insurance asset(1)	$	35,192	$	35,566
Current asbestos insurance receivable(1)	48,147		36,778
Long-term asbestos insurance asset(2)	300,021		315,363
Long-term asbestos insurance receivable(2)	14,482		7,063
Accrued asbestos liability(3)	63,299		58,501
Long-term asbestos liability(4)	359,763		375,493

⁽¹⁾ Included in Other current assets in the Condensed Consolidated Balance Sheets.

⁽²⁾ Included in Other assets in the Condensed Consolidated Balance Sheets.

⁽³⁾ Represents current reserves for probable and reasonably estimable asbestos-related liability cost that the Company believes the subsidiaries

will pay through the next 15 years, overpayments by certain insurers and unpaid legal costs related to defending themselves against

asbestos-related liability claims and legal action against the Company’s insurers, which is included in Accrued liabilities in the Condensed

Consolidated Balance Sheets.

⁽⁴⁾ Included in Other liabilities in the Condensed Consolidated Balance Sheets.

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Debt (Details Textual) In Millions, unless otherwise specified	6 Months Ended
	Jun. 28, 2013 USD ($)	Feb. 22, 2013 A One Facility [Member] USD ($)	Feb. 22, 2013 A Two Facility [Member] USD ($)	Feb. 22, 2013 A Three Facility [Member] EUR (€)	Feb. 22, 2013 A Four Facility [Member] EUR (€)	Feb. 22, 2013 B Facility [Member] USD ($)	Feb. 22, 2013 Two Revolving Credit Facility [Member] USD ($)
DB Credit Facility Term Loans		$ 408.7	$ 380.0	€ 157.6	€ 105.3	$ 400.0
Base Rate Loan Interest Rate Margin Percentage, Minimum		0.75%	0.75%	1.50%	1.50%	1.50%	0.75%
Base Rate Loan Interest Rate Margin Percentage, Maximum		1.50%	1.50%	2.25%	2.25%	1.50%	1.50%
Eurocurrency Rate Loan Interest Rate Margin Percentage, Minimum		1.75%	1.75%	2.50%	2.50%	2.50%	1.75%
Eurocurrency Rate Interest Rate Loan Margin Percentage, Maximum		2.50%	2.50%	3.25%	3.25%	2.50%	2.50%
Write off of Deferred Debt Issuance Cost	2.6
Expenses Incurred During Refinance Of Debt	0.5
Debt discount	44.0
Deferred Finance Costs, Net	16.8
Long-term Debt, Weighted Average Interest Rate	2.62%
Line of Credit Facility, Maximum Borrowing Capacity							500
Line of Credit Facility, Remaining Borrowing Capacity	499.9
DB Letter of Credit Subfacility, Remaining Borrowing Capacity	199.9
Letters of Credit, Maximum Capacity	572.3
Letters of Credit, Amount Outstanding	$ 332.7

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Inventories, Net

6 Months Ended

Jun. 28, 2013

Inventory Disclosure [Abstract]

Inventory Disclosure [Text Block]

Inventories, Net

Inventories, net consisted of the following:

	June 28, 2013			December 31, 2012
	(In thousands)
Raw materials	$	137,859		$	154,771
Work in process	98,945			99,459
Finished goods	252,074			263,211
	488,878			517,441
Less: customer progress billings	(9,839		)	(14,571		)
Less: allowance for excess, slow-moving and obsolete inventory	(11,767		)	(9,221		)
Inventories, net	$	467,272		$	493,649

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Acquisition

6 Months Ended

Jun. 28, 2013

Business Combinations [Abstract]

Business Combination Disclosure [Text Block]

Acquisition

Charter International plc

On January 13, 2012, Colfax completed the acquisition of Charter for a total purchase price of approximately $2.6 billion, comprised of $1.9 billion of cash consideration and $0.7 billion fair value of common stock on the date of acquisition. Charter is a global industrial manufacturing company focused on welding, cutting and automation and air and gas handling.

The Charter Acquisition was accounted for using the acquisition method of accounting. The measurement period was completed during the three months ended March 29, 2013. During the measurement period, the Company retrospectively adjusted provisional amounts with respect to the Charter acquisition that were recognized at the acquisition date to reflect new information obtained about facts and circumstances that existed as of the acquisition date that, if known, would have affected the measurement of the amounts recognized as of that date. The aggregate adjustments for the three months ended March 29, 2013 of $23.5 million increased the Goodwill balance and relate to the Company’s valuation of specific tax items.

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CONDENSED CONSOLIDATED STATEMENT OF EQUITY (USD $)	Total	Common Stock [Member]	Preferred Stock [Member]	Additional Paid-in Capital [Member]	Accumulated Deficit [Member]	Accumulated Other Comprehensive Loss [Member]	Noncontrolling Interest [Member]
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest at Dec. 31, 2012	$ 2,156,286,000	$ 94,000	$ 14,000	$ 2,197,694,000	$ (138,856,000)	$ (146,594,000)	$ 243,934,000
Shares, Outstanding at Dec. 31, 2012		94,067,418	13,877,552
Net Income (Loss) Attributable to Parent	86,027,000				86,027,000
Net Income (Loss) Attributable to Noncontrolling Interest	13,448,000
Net Income	99,475,000
Noncontrolling Interest, Decrease from Distributions to Noncontrolling Interest Holders	(5,115,000)	0	0	0	0	0	(5,115,000)
Dividends, Preferred Stock	(10,168,000)	0	0	0	(10,168,000)	0	0
Other comprehensive loss	(165,371,000)	0	0	0	0	(152,873,000)	(12,498,000)
Stock Issues During Period, Value, New Issues, Net of Issuance Costs	319,898,000	8,000	0	319,890,000	0	0	0
Stock Issued During Period, Shares, New Issues	7,500,000	7,500,000	0
Common stock-based award activity	9,061,000	0	0	9,061,000	0	0	0
Common stock-based award activity (in shares)		217,592	0
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest at Jun. 28, 2013	$ 2,404,066,000	$ 102,000	$ 14,000	$ 2,526,645,000	$ (62,997,000)	$ (299,467,000)	$ 239,769,000
Shares, Outstanding at Jun. 28, 2013		101,785,010	13,877,552

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Financial Instruments and Fair Value Measurements (Details Textual) (USD $) In Billions, unless otherwise specified	Jun. 28, 2013	Dec. 31, 2012
Financial Instruments and Fair Value Measurements [Abstract]
Long-term Debt, Fair Value	$ 1.5	$ 1.7

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Net Periodic Benefit Cost-Defined Benefit Plans (Details) (USD $) In Thousands, unless otherwise specified	3 Months Ended		6 Months Ended
	Jun. 28, 2013	Jun. 29, 2012	Jun. 28, 2013	Jun. 29, 2012
Pension Benefits-U.S. Plans: [Member]
Service cost	$ 0	$ 0	$ 0	$ 0
Interest cost	4,450	4,660	8,774	9,345
Expected return on plan assets	(6,228)	(6,012)	(12,419)	(12,043)
Amortization	1,963	1,854	3,927	3,600
Net periodic benefit cost	185	502	282	902
Pension Benefits-Non U.S. Plans: [Member]
Service cost	862	728	1,822	1,560
Interest cost	11,498	8,147	22,204	16,101
Expected return on plan assets	(8,669)	(4,732)	(16,490)	(9,490)
Amortization	636	190	1,231	380
Net periodic benefit cost	4,327	4,333	8,767	8,551
Other Post-Retirement Benefits: [Member]
Service cost	28	63	135	102
Interest cost	285	313	457	639
Amortization	177	233	353	466
Net periodic benefit cost	$ 490	$ 609	$ 945	$ 1,207

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Acquisition (Details Textual) (Charter International Plc [Member], USD $)	3 Months Ended
	Mar. 29, 2013	Jan. 13, 2012
Charter International Plc [Member]
Business Acquisitions [Line Items]
Equity Method Investment Ownership Value		$ 2,600,000,000
Business Acquisition, Cost of Acquired Entity, Cash Paid		1,900,000,000
Business Acquisition, Cost of Acquired Entity, Other Noncash Consideration		700,000,000
Business Acquisition Acquired Entity Retrospective Adjustments	$ 23,500,000

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Net Periodic Benefit Cost-Defined Benefit Plans

6 Months Ended

Jun. 28, 2013

Compensation and Retirement Disclosure [Abstract]

Pension and Other Postretirement Benefits Disclosure [Text Block]

Net Periodic Benefit Cost - Defined Benefit Plans

The following table sets forth the components of net periodic benefit cost of the defined benefit pension plans and the Company’s other post-retirement employee benefit plans:

	Three Months Ended						Six Months Ended
	June 28, 2013			June 29, 2012			June 28, 2013			June 29, 2012
	(In thousands)
Pension Benefits-U.S. Plans:
Service cost	$	—		$	—		$	—		$	—
Interest cost	4,450			4,660			8,774			9,345
Expected return on plan assets	(6,228		)	(6,012		)	(12,419		)	(12,043		)
Amortization	1,963			1,854			3,927			3,600
Net periodic benefit cost	$	185		$	502		$	282		$	902
Pension Benefits-Non U.S. Plans:
Service cost	$	862		$	728		$	1,822		$	1,560
Interest cost	11,498			8,147			22,204			16,101
Expected return on plan assets	(8,669		)	(4,732		)	(16,490		)	(9,490		)
Amortization	636			190			1,231			380
Net periodic benefit cost	$	4,327		$	4,333		$	8,767		$	8,551
Other Post-Retirement Benefits:
Service cost	$	28		$	63		$	135		$	102
Interest cost	285			313			457			639
Amortization	177			233			353			466
Net periodic benefit cost	$	490		$	609		$	945		$	1,207

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Equity

6 Months Ended

Jun. 28, 2013

Equity [Abstract]

Shareholders' Equity and Share-based Payments [Text Block]

Equity

Common Stock

On May 13, 2013, the Company sold 7,500,000 shares of newly issued Colfax Common stock to underwriters for public resale pursuant to a shelf registration statement for an aggregate purchase price of $331.9 million. In conjunction with this issuance, the Company recognized $12.0 million in equity issuance costs which were recorded as a reduction to Additional paid-in capital during the six months ended June 28, 2013.

Accumulated Other Comprehensive Loss

The following table presents the changes in the balances of each component of Accumulated other comprehensive loss including current period reclassifications out of Accumulated other comprehensive loss for the six months ended June 28, 2013. All amounts are net of tax and noncontrolling interest.

	Accumulated Other Comprehensive Loss Components
	Net Unrecognized Pension And Other Post-Retirement Benefit Cost			Foreign Currency Translation Adjustment			Unrealized (Loss) Gain On Hedging Activities			Total
	(In thousands)
Beginning Balance	$	(247,332	)	$	104,718		$	(3,980	)	$	(146,594	)
Other comprehensive (loss) income before reclassifications:
Foreign currency translation adjustment	—			(154,230		)	—			(154,230		)
Loss on long-term intra-entity foreign currency transactions	—			(7,299		)	—			(7,299		)
Gain on net investment hedges	—			—			7,263			7,263
Unrealized loss on cash flow hedges	—			—			(3,764		)	(3,764		)
Other comprehensive (loss) income before reclassifications	—			(161,529		)	3,499			(158,030		)
Amounts reclassified from Accumulated other comprehensive loss	5,157			—			—			5,157
Net current period other comprehensive income (loss)	5,157			(161,529		)	3,499			(152,873		)
Ending balance	$	(242,175	)	$	(56,811	)	$	(481	)	$	(299,467	)

The effect on Net income of amounts reclassified out of each component of Accumulated other comprehensive loss for the three and six months ended June 28, 2013 is as follows:

	Three Months Ended June 28, 2013							Six Months Ended June 28, 2013
	Amounts Reclassified From Other Comprehensive Loss		Tax Benefit			Total		Amounts Reclassified From Other Comprehensive Loss		Tax Benefit			Total
	(In thousands)
Pension and other post-retirement benefit cost:
Amortization of net loss (1)	$	2,714	$	(213	)	$	2,501	$	5,387	$	(354	)	$	5,033
Amortization of prior service cost(1)	62		—			62		124		—			124
	$	2,776	$	(213	)	$	2,563	$	5,511	$	(354	)	$	5,157

⁽¹⁾ Included in the computation of net periodic benefit cost. See Note 10, “Net Periodic Benefit Cost - Defined Benefit Plans” for additional details.

During the six months ended June 28, 2013, Noncontrolling interest decreased by $12.5 million due to Other comprehensive loss, primarily due to currency translation adjustment.

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Segment Information

6 Months Ended

Jun. 28, 2013

Segment Reporting [Abstract]

Segment Reporting Disclosure [Text Block]

Segment Information

The Company conducts its operations through three operating segments: gas handling, fluid handling and fabrication technology. The gas-handling and fluid-handling operating segments are aggregated into a single reportable segment. A description of the Company’s reportable segments is as follows:

▪ Gas & Fluid Handling - a global supplier of a broad range of gas- and fluid-handling products, including pumps, fluid-handling systems and controls, specialty valves, heavy-duty centrifugal and axial fans, rotary heat exchangers and gas compressors, which serves customers in the power generation, oil, gas and petrochemical, mining, marine (including defense) and general industrial and other end markets; and

▪ Fabrication Technology -a global supplier of welding equipment and consumables, cutting equipment and consumables and automated welding and cutting systems.

Certain amounts not allocated to the two reportable segments and intersegment eliminations are reported under the heading “Corporate and other.” The Company’s management evaluates the operating results of each of its reportable segments based upon Net sales and segment operating income (loss), which represents Operating income before Restructuring and other related charges.

The Company’s segment results were as follows:

	Three Months Ended						Six Months Ended
	June 28, 2013			June 29, 2012			June 28, 2013			June 29, 2012
	(In thousands)
Net sales:
Gas and fluid handling	$	516,763		$	496,495		$	941,868		$	921,826
Fabrication technology	557,355			549,158			1,079,393			1,010,193
	$	1,074,118		$	1,045,653		$	2,021,261		$	1,932,019
Segment operating income (loss)(1):
Gas and fluid handling	$	69,440		$	45,112		$	111,928		$	64,921
Fabrication technology	59,427			45,411			103,895			62,407
Corporate and other	(12,738		)	(11,659		)	(23,153		)	(63,952		)
	$	116,129		$	78,864		$	192,670		$	63,376

⁽¹⁾ The following is a reconciliation of Income (loss) before income taxes to segment operating income:

	Three Months Ended				Six Months Ended
	June 28, 2013		June 29, 2012		June 28, 2013		June 29, 2012
	(In thousands)
Income (loss) before income taxes	$	93,598	$	34,565	$	142,636	$	(8,548	)
Interest expense	18,054		25,741		41,343		44,723
Restructuring and other related charges	4,477		18,558		8,691		27,201
Segment operating income	$	116,129	$	78,864	$	192,670	$	63,376

The detail of the Company’s Net sales by product type is as follows:

	Three Months Ended				Six Months Ended
	June 28, 2013		June 29, 2012		June 28, 2013		June 29, 2012
	(In thousands)
Gas handling	$	352,084	$	322,566	$	627,531	$	586,162
Fluid handling	164,679		173,929		314,337		335,664
Welding and cutting	557,355		549,158		1,079,393		1,010,193
Total Net sales	$	1,074,118	$	1,045,653	$	2,021,261	$	1,932,019

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Financial Instruments and Fair Value Measurements

6 Months Ended

Jun. 28, 2013

Financial Instruments and Fair Value Measurements [Abstract]

Fair Value Assets and Liabilities Measured On Recurring and Nonrecurring Basis [Text Block]

Financial Instruments and Fair Value Measurements

The carrying values of financial instruments, including Trade receivables and Accounts payable, approximate their fair values due to their short-term maturities. The estimated fair value of the Company’s debt of $1.5 billion and $1.7 billion as of June 28, 2013 and December 31, 2012, respectively, was based on current interest rates for similar types of borrowings and is in Level Two of the fair value hierarchy. The estimated fair values may not represent actual values of the financial instruments that could be realized as of the balance sheet date or that will be realized in the future.

A summary of the Company’s assets and liabilities that are measured at fair value for each fair value hierarchy level for the periods presented is as follows:

	June 28, 2013
	Level One		Level Two		Level Three		Total
	(In thousands)
Assets:
Cash equivalents	$	328,536	$	—	$	—	$	328,536
Foreign currency contracts related to sales - designated as hedges	—		4,126		—		4,126
Foreign currency contracts related to sales - not designated as hedges	—		1,889		—		1,889
Foreign currency contracts related to purchases - designated as hedges	—		897		—		897
Foreign currency contracts related to purchases - not designated as hedges	—		2,258		—		2,258
Deferred compensation plans	—		2,684		—		2,684
	$	328,536	$	11,854	—		$	340,390
Liabilities:
Foreign currency contracts related to sales - designated as hedges	$	—	$	4,911	$	—	$	4,911
Foreign currency contracts related to sales - not designated as hedges	—		2,619		—		2,619
Foreign currency contracts related to purchases - designated as hedges	—		762		—		762
Foreign currency contracts related to purchases - not designated as hedges	—		1,809		—		1,809
Deferred compensation plans	—		2,684		—		2,684
Liability for contingent payments	—		—		3,387		3,387
	$	—	$	12,785	$	3,387	$	16,172

	December 31, 2012
	Level One		Level Two		Level Three		Total
	(In thousands)
Assets:
Cash equivalents	$	133,878	$	—	$	—	$	133,878
Foreign currency contracts related to sales - designated as hedges	—		6,832		—		6,832
Foreign currency contracts related to sales - not designated as hedges	—		2,249		—		2,249
Foreign currency contracts related to purchases - designated as hedges	—		213		—		213
Foreign currency contracts related to purchases - not designated as hedges	—		1,077		—		1,077
Deferred compensation plans	—		2,542		—		2,542
	$	133,878	$	12,913	—		$	146,791
Liabilities:
Foreign currency contracts related to sales - designated as hedges	$	—	$	1,024	$	—	$	1,024
Foreign currency contracts related to sales - not designated as hedges	—		1,693		—		1,693
Foreign currency contracts related to purchases - designated as hedges	—		896		—		896
Foreign currency contracts related to purchases - not designated as hedges	—		1,062		—		1,062
Deferred compensation plans	—		2,542		—		2,542
Liability for contingent payments	—		—		6,517		6,517
	$	—	$	7,217	$	6,517	$	13,734

There were no transfers in or out of Level One, Two or Three during the six months ended June 28, 2013.

Foreign Currency Contracts. As of June 28, 2013 and December 31, 2012, the Company had foreign currency contracts with the following notional values:

	June 28, 2013		December 31, 2012
	(In thousands)
Foreign currency contracts sold - not designated as hedges	$	236,186	$	301,185
Foreign currency contracts sold - designated as hedges	204,397		238,537
Foreign currency contracts purchased - not designated as hedges	188,545		121,741
Foreign currency contracts purchased - designated as hedges	56,238		37,065
Total foreign currency derivatives	$	685,366	$	698,528

The Company recognized the following in its Condensed Consolidated Financial Statements related to its derivative instruments:

	Three Months Ended						Six Months Ended
	June 28, 2013			June 29, 2012			June 28, 2013			June 29, 2012
	(In thousands)
Contracts Designated as Hedges:
Interest Rate Swap:
Realized loss	$	—		$	—		$	—		$	(471	)
Foreign Currency Contracts - related to customer sales contracts:
Unrealized gain (loss)	407			(3,557		)	(590		)	(2,248		)
Realized gain (loss)	386			75			(3,471		)	(680		)
Foreign Currency Contracts - related to supplier purchase contracts:
Unrealized loss	(110		)	(243		)	(1,053		)	(849		)
Realized (loss) gain	(160		)	325			1,501			235
Unrealized gain (loss) on net investment hedges	1,567			9,875			7,263			(4		)
Contracts Not Designated in a Hedge Relationship:
Foreign Currency Contracts - acquisition-related:
Realized loss	—			—			—			(7,177		)
Foreign Currency Contracts - related to customer sales contracts:
Unrealized loss	(1,733		)	(4,856		)	(489		)	(1,620		)
Realized gain (loss)	440			(67		)	(1,972		)	910
Foreign Currency Contracts - related to supplier purchases contracts:
Unrealized gain	1,777			2,719			867			226
Realized (loss) gain	(1,028		)	(151		)	506			(34		)

Liability for Contingent Payments

The Company’s liability for contingent payments represents the fair value of estimated additional cash payments related to its acquisition of COT-Puritech, Inc. in December of 2011, which are subject to the achievement of certain performance goals, and is included in Other liabilities in the Consolidated Balance Sheets. The fair value of the liability for contingent payments represents the present value of probability weighted expected cash flows based upon the Company’s internal model and projections and is included in Level Three of the fair value hierarchy. Accretion is recognized in Interest expense in the Consolidated Statements of Operations and realized or unrealized gains or losses are recognized in Selling, general and administrative expense in the Consolidated Statements of Operations.

A summary of activity in the Company’s liability for contingent payments during the six months ended June 28, 2013 is as follows:

	(In thousands)
Balance at January 1, 2013	$	6,517
Interest accretion	370
Cash payment	(3,500		)
Balance at June 28, 2013	$	3,387

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DOCUMENT AND ENTITY INFORMATION	6 Months Ended
	Jun. 28, 2013
Document and Entity Information [Abstract]
Entity Registrant Name	Colfax CORP
Entity Central Index Key	0001420800
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Trading Symbol	cfx
Entity Common Stock, Shares Outstanding	101,785,010
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jun. 28, 2013
Document Fiscal Period Focus	Q2
Document Fiscal Year Focus	2013

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Commitments and Contingencies

6 Months Ended

Jun. 29, 2012

Commitments and Contingencies Disclosure [Abstract]

Commitments and Contingencies Disclosure [Text Block]

Commitments and Contingencies

For further description of the Company’s litigation and contingencies, reference is made to Note 16, “Commitments and Contingencies” in the Notes to Consolidated Financial Statements in our 2012 Form 10-K.

Asbestos and Other Product Liability Contingencies

Claims activity since December 31 related to asbestos claims is as follows⁽¹⁾:

	Six Months Ended
	June 28, 2013		June 29, 2012
	(Number of claims)
Claims unresolved, beginning of period	23,523		25,281
Claims filed(2)	2,298		2,257
Claims resolved(3)	(3,188	)	(1,998	)
Claims unresolved, end of period	22,633		25,540

⁽¹⁾ Excludes claims filed by one legal firm that have been “administratively dismissed.”

⁽²⁾ Claims filed include all asbestos claims for which notification has been received or a file has been opened.

⁽³⁾ Claims resolved include all asbestos claims that have been settled, dismissed or that are in the process of being settled or dismissed based

upon agreements or understandings in place with counsel for the claimants.

The Company’s Condensed Consolidated Balance Sheets included the following amounts related to asbestos-related litigation:

	June 28, 2013		December 31, 2012
	(In thousands)
Current asbestos insurance asset(1)	$	35,192	$	35,566
Current asbestos insurance receivable(1)	48,147		36,778
Long-term asbestos insurance asset(2)	300,021		315,363
Long-term asbestos insurance receivable(2)	14,482		7,063
Accrued asbestos liability(3)	63,299		58,501
Long-term asbestos liability(4)	359,763		375,493

⁽¹⁾ Included in Other current assets in the Condensed Consolidated Balance Sheets.

⁽²⁾ Included in Other assets in the Condensed Consolidated Balance Sheets.

⁽³⁾ Represents current reserves for probable and reasonably estimable asbestos-related liability cost that the Company believes the subsidiaries

will pay through the next 15 years, overpayments by certain insurers and unpaid legal costs related to defending themselves against

asbestos-related liability claims and legal action against the Company’s insurers, which is included in Accrued liabilities in the Condensed

Consolidated Balance Sheets.

⁽⁴⁾ Included in Other liabilities in the Condensed Consolidated Balance Sheets.

Management’s analyses are based on currently known facts and a number of assumptions. However, projecting future events, such as new claims to be filed each year, the average cost of resolving each claim, coverage issues among layers of insurers, the method in which losses will be allocated to the various insurance policies, interpretation of the effect on coverage of various policy terms and limits and their interrelationships, the continuing solvency of various insurance companies, the amount of remaining insurance available, as well as the numerous uncertainties inherent in asbestos litigation could cause the actual liabilities and insurance recoveries to be higher or lower than those projected or recorded which could materially affect the Company’s financial condition, results of operations or cash flow.

The Company is also involved in various other pending legal proceedings arising out of the ordinary course of the Company’s business. None of these legal proceedings are expected to have a material adverse effect on the financial condition, results of operations or cash flow of the Company. With respect to these proceedings and the litigation and claims described in the preceding paragraphs, management of the Company believes that it will either prevail, has adequate insurance coverage or has established appropriate reserves to cover potential liabilities. Any costs that management estimates may be paid related to these proceedings or claims are accrued when the liability is considered probable and the amount can be reasonably estimated. There can be no assurance, however, as to the ultimate outcome of any of these matters, and if all or substantially all of these legal proceedings were to be determined adverse to the Company, there could be a material adverse effect on the financial condition, results of operations or cash flow of the Company.