| Schedule of financial information for the reportable segments |
| | | | | | | | | | | | | | | | | | | | | The Harris | | | | | | Americas | | International | | Products | | | | | | Welding | | Welding | | Group | | Total | Three Months Ended September 30, 2026 | | | | | | | | | | | | | Net sales | | $ | 801,264 | | $ | 226,904 | | $ | 193,113 | | $ | 1,221,281 | Inter-segment sales | | | 25,959 | | | 6,502 | | | 3,977 | | | 36,438 | | | | 827,223 | | | 233,406 | | | 197,090 | | | 1,257,719 | Reconciliation to Consolidated Net sales | | | | | | | | | | | | | Elimination of inter-segment sales | | | | | | | | | | | | (36,438) | Net sales | | | | | | | | | | | $ | 1,221,281 | Cost of goods sold | | | 516,658 | | | 166,357 | | | 149,086 | | | | Other segment expenses (1) (3) | | | 145,630 | | | 49,307 | | | 13,941 | | | | Addback: Special items charge (1) | | | (1,612) | | | (6,224) | | | (17) | | | | Segment Adjusted EBIT | | $ | 166,547 | | $ | 23,966 | | $ | 34,080 | | $ | 224,593 | | | | | | | | | | | | | | Other Segment Information | | | | | | | | | | | | | Capital expenditures | | $ | (31,991) | | $ | (5,825) | | $ | (3,403) | | $ | (41,219) | Depreciation and amortization | | | 18,111 | | | 6,922 | | | 2,527 | | | 27,560 | | | | | | | | | | | | | | Three Months Ended September 30, 2025 | | | | | | | | | | | | | Net sales | | $ | 691,794 | | $ | 219,629 | | $ | 149,804 | | $ | 1,061,227 | Inter-segment sales | | | 30,058 | | | 9,830 | | | 3,441 | | | 43,329 | | | | 721,852 | | | 229,459 | | | 153,245 | | | 1,104,556 | Reconciliation to Consolidated Net sales | | | | | | | | | | | | | Elimination of inter-segment sales | | | | | | | | | | | | (43,329) | Net sales | | | | | | | | | | | $ | 1,061,227 | Cost of goods sold (2) | | | 438,400 | | | 164,747 | | | 111,126 | | | | Other segment expenses (2) (3) | | | 156,212 | | | 41,653 | | | 14,357 | | | | Addback: Special items charge (2) | | | (4,375) | | | (2,762) | | | (316) | | | | Segment Adjusted EBIT | | $ | 131,615 | | $ | 25,821 | | $ | 28,078 | | $ | 185,514 | | | | | | | | | | | | | | Other Segment Information | | | | | | | | | | | | | Capital expenditures | | $ | (27,037) | | $ | (3,697) | | $ | (902) | | $ | (31,636) | Depreciation and amortization | | | 17,176 | | | 6,119 | | | 2,576 | | | 25,871 |
| (1) | In the three months ended September 30, 2026, special items within Other segment expenses primarily include Rationalization and asset impairment net charges of $1,612, $6,224, and $17 in Americas Welding, International Welding, and The Harris Products Group, respectively, as discussed in Note 6. |
| (2) | In the three months ended September 30, 2025, special items within Other segment expenses primarily include Rationalization and asset impairment net charges of $4,150, $1,365, and $316 in Americas Welding, International Welding, and The Harris Products Group, respectively, as discussed in Note 6. Special items within Cost of goods sold primarily include an amortization of step up in value of acquired inventories of $1,397 in International Welding. |
| (3) | Other segment expenses primarily include: |
| a. | Selling, general & administrative expenses – including bonus and research and development expenses. |
| b. | Rationalization and asset impairment net charges – refer to Note 6 for further discussion. |
| | | | | | | | | | | | | | | | | | | | | The Harris | | | | | | Americas | | International | | Products | | | | | | Welding | | Welding | | Group | | Total | Nine Months Ended September 30, 2026 | | | | | | | | | | | | | Net sales | | $ | 2,281,927 | | $ | 697,231 | | $ | 583,220 | | $ | 3,562,378 | Inter-segment sales | | | 91,572 | | | 19,873 | | | 13,613 | | | 125,058 | | | | 2,373,499 | | | 717,104 | | | 596,833 | | | 3,687,436 | Reconciliation to Consolidated Net sales | | | | | | | | | | | | | Elimination of inter-segment sales | | | | | | | | | | | | (125,058) | Net sales | | | | | | | | | | | $ | 3,562,378 | Cost of goods sold | | | 1,468,025 | | | 509,230 | | | 435,624 | | | | Other segment expenses (1) (3) | | | 456,561 | | | 144,929 | | | 44,089 | | | | Addback: Special items charge (1) | | | (3,197) | | | (10,278) | | | (22) | | | | Segment Adjusted EBIT | | $ | 452,110 | | $ | 73,223 | | $ | 117,142 | | $ | 642,475 | | | | | | | | | | | | | | Other Segment Information | | | | | | | | | | | | | Capital expenditures | | $ | (80,932) | | $ | (21,510) | | $ | (9,377) | | $ | (111,819) | Depreciation and amortization | | | 53,753 | | | 20,275 | | | 7,766 | | | 81,794 | | | | | | | | | | | | | | Nine Months Ended September 30, 2025 | | | | | | | | | | | | | Net sales | | $ | 2,041,631 | | $ | 671,514 | | $ | 441,143 | | $ | 3,154,288 | Inter-segment sales | | | 103,821 | | | 24,303 | | | 12,535 | | | 140,659 | | | | 2,145,452 | | | 695,817 | | | 453,678 | | | 3,294,947 | Reconciliation to Consolidated Net sales | | | | | | | | | | | | | Elimination of inter-segment sales | | | | | | | | | | | | (140,659) | Net sales | | | | | | | | | | | $ | 3,154,288 | Cost of goods sold (2) | | | 1,305,298 | | | 498,475 | | | 327,074 | | | | Other segment expenses (2) (3) | | | 453,841 | | | 123,684 | | | 42,893 | | | | Addback: Special items charge (2) | | | (7,415) | | | (5,725) | | | (580) | | | | Segment Adjusted EBIT | | $ | 393,728 | | $ | 79,383 | | $ | 84,291 | | $ | 557,402 | | | | | | | | | | | | | | Other Segment Information | | | | | | | | | | | | | Capital expenditures | | $ | (68,777) | | $ | (11,911) | | $ | (3,340) | | $ | (84,028) | Depreciation and amortization | | | 50,429 | | | 16,982 | | | 7,837 | | | 75,248 |
| (1) | In the nine months ended September 30, 2026, special items within Other segment expenses primarily include Rationalization and asset impairment net charges of $3,197, $10,278, and $22 in Americas Welding, International Welding, and The Harris Products Group, respectively, as discussed in Note 6. |
| (2) | In the nine months ended September 30, 2025, special items within Other segment expenses primarily include Rationalization and asset impairment net charges of $7,190, $4,468, and $580 in Americas Welding, International Welding, and The Harris Products Group, respectively, as discussed in Note 6. Special items within Cost of goods sold primarily include an amortization of step up in value of acquired inventories of $1,257 in International Welding. |
| (3) | Other segment expenses primarily include: |
| a. | Selling, general & administrative expenses – including bonus and research and development expenses. |
| b. | Rationalization and asset impairment net charges – refer to Note 6 for further discussion. |
| | | | | | | | | | | | | | Three Months Ended September 30, | | | Nine Months Ended September 30, | | | 2026 | | | 2025 | | | | 2026 | | | 2025 | Reconciliation of Segment Adjusted EBIT to Consolidated Income before income taxes | | | | | | | | | | | | | Segment Adjusted EBIT | $ | 224,593 | | $ | 185,514 | | | $ | 642,475 | | $ | 557,402 | Addback: Segment special items charge | | (7,853) | | | (7,453) | | | | (13,497) | | | (13,720) | Corporate special items charge (1) | | (765) | | | (452) | | | | (1,433) | | | (1,683) | Elimination of inter-segment profit | | (587) | | | (972) | | | | (1,398) | | | (3,794) | Unallocated corporate expenses, net | | (4,009) | | | 3,006 | | | | (7,637) | | | 2,978 | Interest income | | 1,289 | | | 1,501 | | | | 4,476 | | | 5,418 | Interest expense | | (12,635) | | | (15,149) | | | | (41,717) | | | (43,812) | Consolidated Income before income taxes | $ | 200,033 | | $ | 165,995 | | | $ | 581,269 | | $ | 502,789 | | | | | | | | | | | | | | Reconciliation of Other Segment Information to Consolidated Information | | | | | | | | | | | | | Capital expenditures | | | | | | | | | | | | | Segment totals | $ | (41,219) | | $ | (31,636) | | | $ | (111,819) | | $ | (84,028) | Adjustments | | — | | | — | | | | — | | | — | Consolidated totals | $ | (41,219) | | $ | (31,636) | | | $ | (111,819) | | $ | (84,028) | | | | | | | | | | | | | | Depreciation and amortization | | | | | | | | | | | | | Segment totals | $ | 27,560 | | $ | 25,871 | | | $ | 81,794 | | $ | 75,248 | Adjustments | | (1,129) | | | (1,127) | | | | (3,385) | | | (2,258) | Consolidated totals | $ | 26,431 | | $ | 24,744 | | | $ | 78,409 | | $ | 72,990 | | | | | | | | | | | | | | (1) Corporate special items primarily include transaction costs. | | | | | | | | | | | | | | | | | | | | | September 30, 2026 | | December 31, 2025 | Reconciliation of Segment Assets to Consolidated Assets | | | | | | | | | | | | | Americas Welding | | | | | | | | $ | 2,629,479 | | $ | 2,464,376 | International Welding | | | | | | | | | 1,162,497 | | | 1,244,117 | The Harris Products Group | | | | | | | | | 477,562 | | | 431,259 | Total Segment Assets | | | | | | | | | 4,269,538 | | | 4,139,752 | Corporate Assets | | | | | | | | | 39,375 | | | 41,033 | LIFO reserve not allocated to segments | | | | | | | | | (145,501) | | | (138,589) | Eliminations | | | | | | | | | (269,782) | | | (264,619) | Total Consolidated Assets | | | | | | | | $ | 3,893,630 | | $ | 3,777,577 |
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