SEGMENT INFORMATION (Tables)

12 Months Ended

Dec. 31, 2011

SEGMENT INFORMATION

Schedule of financial information for the reportable segments

	North America Welding		Europe Welding			Asia Pacific Welding			South America Welding		The Harris Products Group			Corporate / Eliminations			Consolidated
For the year ended December 31, 2011
Net sales	$	1,309,499	$	508,692		$	376,276		$	156,684	$	343,458		$	–		$	2,694,609
Inter-segment sales		136,314		17,422			15,614			494		8,496			(178,340	)		–
Total	$	1,445,813	$	526,114		$	391,890		$	157,178	$	351,954		$	(178,340	)	$	2,694,609
EBIT, as adjusted	$	227,924	$	36,171		$	2,629		$	12,895	$	25,151		$	426		$	305,196
Special items charge (gain)		–		392			(110	)		–		–			–			282
EBIT	$	227,924	$	35,779		$	2,739		$	12,895	$	25,151		$	426		$	304,914
Interest income																		3,121
Interest expense																		(6,704	)
Income before income taxes																	$	301,331
Total assets	$	771,315	$	436,327		$	380,282		$	110,781	$	181,916		$	96,155		$	1,976,776
Equity investments in affiliates		–		20,500			–			4,118		–			–			24,618
Capital expenditures		31,826		8,566			21,498			2,314		1,792			(183	)		65,813
Depreciation and amortization		29,237		11,736			14,663			2,033		4,714			(332	)		62,051
For the year ended December 31, 2010
Net sales	$	1,013,193	$	359,925		$	324,092		$	117,419	$	255,543		$	–		$	2,070,172
Inter-segment sales		108,849		13,330			12,546			1,216		6,641			(142,582	)		–
Total	$	1,122,042	$	373,255		$	336,638		$	118,635	$	262,184		$	(142,582	)	$	2,070,172
EBIT, as adjusted	$	162,192	$	17,023		$	1,752		$	7,554	$	12,311		$	(6,675	)	$	194,157
Special items charge (gain)		–		2,486			(3,741	)		3,123		871			–			2,739
EBIT	$	162,192	$	14,537		$	5,493		$	4,431	$	11,440		$	(6,675	)	$	191,418
Interest income																		2,381
Interest expense																		(6,691	)
Income before income taxes																	$	187,108
Total assets	$	611,725	$	413,789		$	350,975		$	94,836	$	193,474		$	118,989		$	1,783,788
Equity investments in affiliates		–		19,194			–			3,715		–			–			22,909
Capital expenditures		25,746		10,373			22,973			3,573		884			(2,984	)		60,565
Depreciation and amortization		27,652		9,527			13,542			1,564		5,012			60			57,357
For the year ended December 31, 2009
Net sales	$	858,180	$	346,383		$	208,280		$	99,171	$	217,271		$	–		$	1,729,285
Inter-segment sales		85,630		8,725			4,051			308		7,739			(106,453	)		–
Total	$	943,810	$	355,108		$	212,331		$	99,479	$	225,010		$	(106,453	)	$	1,729,285
EBIT, as adjusted	$	134,544	$	(2,196	)	$	(18,835	)	$	10,648	$	1,009		$	(3,344	)	$	121,826
Special items charge (gain)		10,386		4,335			9,006			528		5,774			–			30,029
EBIT	$	124,158	$	(6,531	)	$	(27,841	)	$	10,120	$	(4,765	)	$	(3,344	)	$	91,797
Interest income																		3,462
Interest expense																		(8,521	)
Income before income taxes																	$	86,738
Total assets	$	606,846	$	359,093		$	310,329		$	81,734	$	181,753		$	165,537		$	1,705,292
Equity investments in affiliates		–		19,455			–			3,444		–			–			22,899
Capital expenditures		13,726		7,543			15,887			796		2,457			(2,208	)		38,201
Depreciation and amortization		30,254		9,779			9,397			1,543		5,485			140			56,598

Schedule of geographic split of the Company's net sales, based on the location of the customer, and property, plant and equipment

	Year Ended December 31,
	2011		2010		2009
Net sales:
United States	$	1,092,838	$	825,371	$	722,638
China		286,121		250,981		156,233
Other foreign countries		1,315,650		993,820		850,414
Total	$	2,694,609	$	2,070,172	$	1,729,285

	December 31,
	2011			2010			2009
Property, plant and equipment, net:
United States	$	149,637		$	149,185		$	153,342
China		96,374			87,722			73,559
Other foreign countries		224,801			242,084			233,514
Eliminations		(361	)		(425	)		(354	)
Total	$	470,451		$	478,566		$	460,061