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| In millions, except per share items | Dec-31-21 | Dec-31-20 | Dec-31-19 | Dec-31-18 | Dec-31-17 | Dec-31-16 | Dec-31-15 | Dec-31-14 |
| | 10-K | 10-K | 10-K | 10-K | 10-K | 10-K | 10-K | 10-K |
| Revenues: |
| Americas Welding | 1,965.1 | 1,619.2 | 1,939.1 | 1,925.5 | 1,707.2 | 1,588.6 | 1,833.9 | 1,948.2 |
| International Welding | 974.5 | 805.3 | 872.1 | 938.3 | 742.9 | 523.3 | 549.2 | 703.0 |
| The Harris Products Group | 469.7 | 365.8 | 340.6 | 309.4 | 298.8 | 281.1 | 273.3 | 302.4 |
| Total revenues | 3,234.2 | 2,655.4 | 3,003.3 | 3,028.7 | 2,624.4 | 2,274.6 | 2,535.8 | 2,813.3 |
| Revenue growth [+] | 21.8% | -11.6% | -0.8% | 15.4% | 15.4% | -10.3% | -9.9% | -1.4% |
| Americas Welding | 21.4% | -16.5% | 0.7% | 12.8% | 7.5% | -13.4% | -5.9% | |
| International Welding | 21.0% | -7.7% | -7.1% | 26.3% | 42.0% | -4.7% | -21.9% | |
| The Harris Products Group | 28.4% | 7.4% | 10.1% | 3.5% | 6.3% | 2.8% | -9.6% | -4.8% |
| Cost of goods sold | 2,165.6 | 1,784.1 | 1,995.7 | 2,000.2 | 1,749.3 | 1,488.1 | 1,694.6 | 1,864.0 |
| Gross profit | 1,068.6 | 871.3 | 1,007.6 | 1,028.5 | 875.1 | 786.6 | 841.1 | 949.3 |
| Gross margin | 33.0% | 32.8% | 33.5% | 34.0% | 33.3% | 34.6% | 33.2% | 33.7% |
| Selling, general and administrative | 597.1 | 543.8 | 621.5 | 627.7 | 541.2 | 468.6 | 496.7 | 545.5 |
| Equity in earnings | | | | | | | 3.0 | 5.4 |
| Other operating expenses | | | | | -49.7 | | 142.7 | 1.8 |
| EBITDA [+] | 552.6 | 408.0 | 467.6 | 473.2 | 451.6 | 383.0 | 268.7 | 477.0 |
| EBITDA growth | 35.4% | -12.7% | -1.2% | 4.8% | 17.9% | 42.6% | -43.7% | -2.4% |
| EBITDA margin | 17.1% | 15.4% | 15.6% | 15.6% | 17.2% | 16.8% | 10.6% | 17.0% |
| Depreciation | 60.0 | 60.1 | 60.7 | 56.6 | 52.4 | 50.5 | 50.7 | 69.6 |
| EBITA | 492.7 | 347.9 | 406.9 | 416.6 | 399.2 | 332.5 | 218.0 | 407.4 |
| EBITA margin | 15.2% | 13.1% | 13.5% | 13.8% | 15.2% | 14.6% | 8.6% | 14.5% |
| Amortization of intangibles | 21.2 | 20.4 | 20.8 | 15.7 | 15.7 | 14.5 | 13.3 | |
| EBIT [+] | 471.5 | 327.5 | 386.1 | 400.8 | 383.5 | 318.0 | 204.7 | 407.4 |
| EBIT growth | 44.0% | -15.2% | -3.7% | 4.5% | 20.6% | 55.4% | -49.8% | -3.0% |
| EBIT margin | 14.6% | 12.3% | 12.9% | 13.2% | 14.6% | 14.0% | 8.1% | 14.5% |
| Non-recurring items [+] | 9.8 | 45.5 | 15.2 | 25.3 | 6.6 | 34.3 | 20.0 | 28.3 |
| Asset impairment | 9.8 | 45.5 | 15.2 | 25.3 | 6.6 | | 20.0 | |
| Unusual expense | | | | | | 34.3 | | |
| Interest expense, net [+] | 22.2 | 24.3 | 22.4 | 16.9 | 19.4 | 17.0 | 19.1 | 7.3 |
| Interest expense | 23.8 | 26.3 | 25.0 | 23.8 | 24.2 | 19.1 | 21.8 | 10.4 |
| Interest income | 1.6 | 2.0 | 2.5 | 6.9 | 4.8 | 2.1 | 2.7 | 3.1 |
| Other income (expense), net [+] | -114.5 | 6.3 | 20.0 | 10.0 | 8.7 | 10.8 | 4.2 | 4.0 |
| Gain (loss) on acquisitions / transactions | | | | | -49.7 | | | |
| Other | | | | | | | 4.2 | 4.0 |
| Pre-tax income | 325.0 | 264.0 | 368.5 | 368.7 | 366.2 | 277.4 | 169.8 | 375.8 |
| Income taxes | 48.4 | 57.9 | 75.4 | 81.7 | 118.8 | 79.0 | 42.4 | 121.9 |
| Tax rate | 14.9% | 21.9% | 20.5% | 22.2% | 32.4% | 28.5% | 25.0% | 32.4% |
| Minority interest | 0.1 | 0.0 | 0.0 | -0.1 | 0.0 | 0.0 | -0.1 | -0.8 |
| Net income | 276.5 | 206.1 | 293.1 | 287.1 | 247.5 | 198.4 | 127.5 | 254.7 |
| Net margin | 8.5% | 7.8% | 9.8% | 9.5% | 9.4% | 8.7% | 5.0% | 9.1% |
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| Basic EPS [+] | $4.66 | $3.46 | $4.73 | $4.42 | $3.76 | $2.94 | $1.72 | $3.22 |
| Growth | 34.9% | -26.9% | 6.9% | 17.5% | 28.0% | 71.0% | -46.5% | -10.2% |
| Diluted EPS [+] | $4.60 | $3.42 | $4.68 | $4.37 | $3.71 | $2.91 | $1.70 | $3.18 |
| Growth | 34.5% | -26.9% | 7.0% | 17.7% | 27.6% | 70.9% | -46.4% | -10.1% |
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| Dividends per share [+] | $2.09 | $1.98 | $1.90 | $1.64 | $1.44 | $1.31 | $1.19 | $0.98 |
| Growth | 5.6% | 4.2% | 15.9% | 13.9% | 9.9% | 10.1% | 21.4% | 18.1% |
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| Shares outstanding (basic) [+] | 59.3 | 59.6 | 62.0 | 64.9 | 65.7 | 67.5 | 74.1 | 79.2 |
| Growth | -0.5% | -3.8% | -4.5% | -1.3% | -2.6% | -9.0% | -6.4% | -3.4% |
| Shares outstanding (diluted) [+] | 60.1 | 60.2 | 62.7 | 65.7 | 66.6 | 68.2 | 74.9 | 80.1 |
| Growth | -0.3% | -3.8% | -4.6% | -1.4% | -2.2% | -8.9% | -6.5% | -3.5% |
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| EBIT is a non-GAAP figure that excludes all non-recurring expenses: restructuring costs, asset impairments, IPR&D writeoffs, and other unusual charges. |
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