QUARTERLY FINANCIAL DATA (UNAUDITED)

12 Months Ended

Dec. 31, 2012

Quarterly Financial Information Disclosure [Abstract]

QUARTERLY FINANCIAL DATA (UNAUDITED)

QUARTERLY FINANCIAL DATA (UNAUDITED)

	First		Second		Third		Fourth
2012
Net sales	$	727,122	$	744,045	$	697,552	$	684,648
Gross profit	215,265		224,997		213,362		213,032
Income before income taxes	92,919		98,157		90,889		87,605
Net income	64,243		66,319		64,765		62,084
Basic earnings per share	$	0.77	$	0.80	$	0.78	$	0.75
Diluted earnings per share	$	0.76	$	0.79	$	0.77	$	0.74
2011
Net sales	$	599,179	$	699,293	$	701,624	$	694,513
Gross profit	161,438		195,504		185,452		194,343
Income before income taxes	60,537		81,494		75,873		83,427
Net income	46,910		57,013		55,530		57,733
Basic earnings per share	$	0.56	$	0.69	$	0.66	$	0.69
Diluted earnings per share	$	0.55	$	0.68	$	0.66	$	0.68

The quarter ended December 31, 2012 includes rationalization and asset impairment net charges of $5,037 ($3,823 after-tax) primarily related to employee severance and other costs associated with the consolidation of manufacturing operations in North America Welding, Europe Welding and Asia Pacific Welding segments.

The quarter ended September 30, 2012 includes rationalization and asset impairment net charges of $3,059 ($2,704 after-tax) primarily related to employee severance and other costs associated with the consolidation of manufacturing operations in North America Welding, Europe Welding and Asia Pacific Welding segments.

The quarter ended June 30, 2012 includes rationalization net charges of $1,258 ($915 after-tax) primarily related to employee severance and other costs associated with the consolidation of manufacturing operations in North America Welding, Europe Welding and Asia Pacific Welding segments and a charge of $1,381 ($906 after-tax) related to a change in Venezuelan labor law, which provides for increased employee severance obligations in the South America Welding segment.

The quarter ended June 30, 2011 includes rationalization and asset impairment net gains of $75 ($44 after-tax) primarily related to the gain on sale of assets at rationalized operations in the Asia Pacific Welding segment resulting from actions initiated in 2009.

The quarter ended March 31, 2011 includes rationalization and asset impairment net charges of $357 ($281 after-tax) primarily related to employee severance and other costs associated with the consolidation of manufacturing operations in the Europe Welding and Asia Pacific Welding segments resulting from actions initiated in 2009 and a gain of $4,844 related to a favorable adjustment for tax audit settlements in the North America Welding segment.

The quarterly earnings per share ("EPS") amounts are each calculated independently. Therefore, the sum of the quarterly EPS amounts may not equal the annual totals.