Financial Analysis

NOTE 4 ACQUISITIONS The acquired companies are accounted for as business combinations and are included in the consolidated financial statements as of the date of acquisition. The acquired companies discussed below are not material individually, or in the aggregate, to the actual or pro forma Consolidated Statements of Income or Consolidated Statements of Cash Flows; as such, pro forma information related to these acquisitions has not been presented. On April 1, 2025, the Company acquired a 35% ownership interest in Alloy Steel Australia (Int) Pty Ltd. (Alloy Steel), a privately held manufacturer of maintenance and repair solutions headquartered in Perth, Australia. On August 1, 2025, the Company acquired the remaining 65% ownership interest in Alloy Steel. In total, the Company acquired 100% ownership of Alloy Steel for a total purchase price of $131,427 , net of cash acquired and certain debt-like items. In 2024, Alloy Steel generated sales of approximately $48,000 (unaudited). Alloy Steel supplies proprietary technology, engineering services and digital monitoring to the mining sector. On July 30, 2024, the Company acquired 100% ownership of Vanair Manufacturing, LLC (Vanair), a privately held, Michigan City, Indiana-based, manufacturer for a total purchase price of $108,651, net of cash acquired and certain debt-like items. Vanair offers a comprehensive portfolio of mobile power solutions, including vehicle-mounted compressors, generators, welders, hydraulics, chargers/boo …

BusinessCombinationDisclosureTextBlock · excerpt; the full note is in the filing

NOTE 9 DEBT At December 31, 2025 and 2024, debt consisted of the following: December 31, 2025 2024 Long-term debt Interest Rate Senior Unsecured Notes 2015 Notes - Series A due August 20, 2025 (1) 3.15 % $ $ 100,000 2015 Notes - Series B due August 20, 2030 3.35 % 100,000 100,000 2015 Notes - Series C due April 1, 2035 3.61 % 50,000 50,000 2015 Notes - Series D due April 1, 2045 4.02 % 100,000 100,000 2016 Notes - Series A due October 20, 2028 2.75 % 100,000 100,000 2016 Notes - Series B due October 20, 2033 3.03 % 100,000 100,000 2016 Notes - Series C due October 20, 2037 3.27 % 100,000 100,000 2016 Notes - Series D due October 20, 2041 3.52 % 50,000 50,000 2024 Notes - Series A due August 22, 2029 5.55 % 75,000 75,000 2024 Notes - Series B due August 22, 2031 5.62 % 75,000 75,000 2024 Notes - Series C due June 20, 2034 5.74 % 400,000 400,000 Other borrowings due through 2030 Variable (2) 10 10 1,150,010 1,250,010 Plus interest rate swap adjustment 2,678 3,355 Less current portion 100,004 Less debt issuance costs 2,460 2,810 Long-term debt, less current portion 1,150,228 1,150,551 Short-term debt Amounts due to banks Variable (3) 143,780 10,520 Current portion long-term debt 100,004 Total short-term debt 143,780 110,524 Total debt $ 1,294,008 $ 1,261,075 (1) On August 20, 2025, the Company repaid the Series A notes in full at maturity. (2) Interest rate was 7.97% for both years ended December 31, 2025 and 2024. (3) Weighted average interest rate on the revolving credit facil …

DebtDisclosureTextBlock · excerpt; the full note is in the filing

The following table presents the Companys Net sales disaggregated by product line: Year Ended December 31, 2025 2024 2023 Consumables $ 2,283,101 $ 2,088,721 $ 2,212,314 Equipment 1,079,603 1,008,524 1,038,290 Automation 870,299 911,425 941,032 Net sales $ 4,233,003 $ 4,008,670 $ 4,191,636 …

DisaggregationOfRevenueTableTextBlock · excerpt; the full note is in the filing

"NOTE 10 STOCK PLANS On April 19, 2023, the shareholders of the Company approved the 2023 Equity and Incentive Compensation Plan (""2023 Employee Plan""), which replaced the 2015 Equity and Incentive Compensation Plan (2015 Employee Plan). The 2023 Employee Plan provides for the granting of options, appreciation rights, restricted shares, restricted stock units and performance-based awards up to an additional 2,025,000 of the Companys common shares. In addition, on April 19, 2023, the shareholders of the Company approved the 2023 Stock Plan for Non-Employee Directors (""2023 Director Plan""), which replaced the 2015 Stock Plan for Non-Employee Directors (2015 Director Plan). The 2023 Director Plan provides for the granting of options, restricted shares and restricted stock units up to an additional 200,000 of the Companys common shares. At December 31, 2025, there were 1,828,205 common shares available for future grant under all plans. Stock Options The following table summarizes stock option activity for the year ended December 31, 2025 under all Plans: Weighted Average Number of Exercise Options Price Balance at beginning of year 696,546 $ 135.17 Options granted 54,495 215.90 Options exercised (126,092) 91.83 Options canceled (449) 69.67 Options forfeited (2,817) 233.40 Balance at end of year 621,683 150.63 Exercisable at end of year 521,057 137.09 Options granted under the 2023 Employee Plan and its predecessor plans may be outstanding for a maximum of 10 years from the da …

DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock · excerpt; the full note is in the filing

NOTE 15 FAIR VALUE The following table provides a summary of assets and liabilities as of December 31, 2025 measured at fair value on a recurring basis: Quoted Prices in Active Markets for Identical Assets or Significant Other Significant Balance as of Liabilities Observable Inputs Unobservable Description December 31, 2025 (Level 1) (Level 2) Inputs (Level 3) Assets: Foreign exchange contracts $ 2,731 $ $ 2,731 $ Net investment contracts 102 102 Pension surplus 12,082 12,082 Total assets $ 14,915 $ 12,082 $ 2,833 $ Liabilities: Foreign exchange contracts $ 759 $ $ 759 $ Net investment contracts 12,529 12,529 Deferred compensation 24,456 24,456 Total liabilities $ 37,744 $ $ 37,744 $ The following table provides a summary of assets and liabilities as of December 31, 2024 measured at fair value on a recurring basis: Quoted Prices in Active Markets for Identical Assets or Significant Other Significant Balance as of Liabilities Observable Inputs Unobservable Description December 31, 2024 (Level 1) (Level 2) Inputs (Level 3) Assets: Foreign exchange contracts $ 3,223 $ $ 3,223 $ Net investment contracts 10,276 10,276 Pension surplus 27,059 27,059 Total assets $ 40,558 $ 27,059 $ 13,499 $ Liabilities: Foreign exchange contracts $ 7,223 $ $ 7,223 $ Deferred compensation 55,425 55,425 Total liabilities $ 62,648 $ $ 62,648 $ The fair value of the Companys pension surplus assets are based on quoted market prices in active markets and are included in the Level 1 fair value hierarchy. T …

FairValueDisclosuresTextBlock · excerpt; the full note is in the filing

NOTE 5 GOODWILL AND INTANGIBLES The changes in the carrying amount of goodwill by reportable segments for the years ended December 31, 2025 and 2024 were as follows: The Harris Americas International Products Welding Welding Group Consolidated Balance as of December 31, 2023 $ 497,600 153,479 43,373 694,452 Additions and adjustments (1) 101,657 33,427 135,084 Foreign currency translation (13,443) (10,644) (522) (24,609) Balance as of December 31, 2024 585,814 176,262 42,851 804,927 Additions and adjustments (2) (662) 57,575 56,913 Foreign currency translation 8,048 16,220 578 24,846 Balance as of December 31, 2025 $ 593,200 $ 250,057 $ 43,429 $ 886,686 (1) Additions to Americas Welding reflect goodwill recognized in the acquisitions of Vanair and RedViking. Additions to International Welding reflect goodwill recognized in the acquisition of Inrotech. (2) Decreases to Americas Welding reflects Vanair and RedViking purchase accounting adjustments. Additions to International Welding reflect goodwill recognized in the acquisition of Alloy Steel . Gross carrying values and accumulated amortization of intangible assets other than goodwill by asset class were as follows: December 31, 2025 December 31, 2024 Gross Accumulated Gross Accumulated Amount Amortization Amount Amortization Intangible assets not subject to amortization Trademarks and trade names $ 16,311 $ 16,208 Intangible assets subject to amortization Trademarks and trade names $ 109,798 $ 57,807 $ 106,512 $ 55,078 Custome …

GoodwillAndIntangibleAssetsDisclosureTextBlock · excerpt; the full note is in the filing

NOTE 13 INCOME TAXES The components of income before income taxes were as follows: Year Ended December 31, 2025 2024 2023 U.S. $ 514,355 $ 496,339 $ 508,316 Non-U.S. 161,095 97,810 178,550 Total $ 675,450 $ 594,149 $ 686,866 The components of income tax expense (benefit) were as follows: Year Ended December 31, 2025 2024 2023 Current: Federal $ 15,863 $ 109,943 $ 95,514 Non-U.S. 42,685 37,997 45,830 State and local 13,395 21,217 24,132 71,943 169,157 165,476 Deferred: Federal 74,885 (31,178) (13,068) Non-U.S. (4,124) (5,269) (7,515) State and local 12,213 (4,669) (3,275) 82,974 (41,116) (23,858) Total $ 154,917 $ 128,041 $ 141,618 The differences between total income tax expense and the amount computed by applying the statutory federal income tax rate to income before income taxes for the three years ended December 31, 2025 were as follows: Year Ended December 31, 2025 2024 2023 Statutory rate applied to pre-tax income $ 141,845 21.0 % $ 124,771 21.0 % $ 144,242 21.0 % Domestic reconciling items: State and local income taxes, net of federal tax benefit (1) 22,795 3.4 14,172 2.4 17,979 2.6 Tax credits Research and development credit (8,800) (1.3) (10,010) (1.7) (9,600) (1.4) Other (102) (102) (99) Nontaxable and nondeductible items Section 162(m) limitation 7,560 1.1 12,810 2.2 3,360 0.5 Other 679 0.1 679 0.1 694 0.1 Cross-border taxes Foreign tax credit (6,018) (0.9) (7,042) (1.2) (7,136) (1.0) Foreign derived intangible income deduction (13,766) (2.3) (10,411) (1.5) Other 17 …

IncomeTaxDisclosureTextBlock · excerpt; the full note is in the filing

NOTE 18 CONTINGENCIES The Company, like other manufacturers, is subject from time to time to a variety of civil and administrative proceedings arising in the ordinary course of business. Such claims and litigation include, without limitation, product liability claims, regulatory claims, employment-related claims and health, safety and environmental claims, some of which relate to cases alleging asbestos induced illnesses. The claimants in the asbestos cases seek compensatory and punitive damages, in most cases for unspecified amounts. The Company believes it has meritorious defenses to these claims and intends to contest such suits vigorously. The Company accrues its best estimate of the probable costs, after a review of the facts with management and counsel and taking into account past experience. For claims or litigation that are material, if an unfavorable outcome is determined to be reasonably possible and the amount of loss can be reasonably estimated, or if an unfavorable outcome is determined to be probable and the amount of loss cannot be reasonably estimated, disclosure would be provided. Many of the current cases are in differing procedural stages and information on the circumstances of each claimant, which forms the basis for judgments as to the validity or ultimate disposition of such actions, varies greatly. Therefore, in many situations a range of possible losses cannot be made. Reserves are adjusted as facts and circumstances change and related management asses …

LegalMattersAndContingenciesTextBlock · excerpt; the full note is in the filing

NOTE 17 LEASES The table below summarizes the right-of-use assets and lease liabilities in the Companys Consolidated Balance sheets: Operating Leases Balance Sheet Classification December 31, 2025 December 31, 2024 Right-of-use assets Other assets $ 52,989 $ 54,276 Current liabilities Other current liabilities $ 13,460 $ 13,110 Noncurrent liabilities Other liabilities 40,061 42,124 Total lease liabilities $ 53,521 $ 55,234 The total future minimum lease payments for noncancelable operating leases were as follows: December 31, 2025 2026 $ 15,232 2027 12,229 2028 10,273 2029 7,456 2030 3,802 After 2030 10,781 Total lease payments $ 59,773 Less: Imputed interest 6,252 Operating lease liabilities $ 53,521 Other information related to leases was as follows: 2025 2024 2023 Lease expense (1) $ 27,674 $ 24,778 $ 24,408 Cash paid for amounts included in the measurement of lease liabilities (2) 15,031 15,874 13,450 Right-of-use assets obtained in exchange for operating lease liabilities 12,683 17,591 9,249 Weighted average discount rate 3.7 % 3.7 % 3.5 % Weighted average remaining lease term 6.1 years 6.4 years 7.0 years (1) Amounts are included in Cost of goods sold and Selling, general and administrative expenses in the Companys Consolidated Statement of Income. (2) Amounts are included in Net Cash Provided by Operating Activities in the Companys Consolidated Statement of Cash Flows. …

LesseeOperatingLeasesTextBlock · excerpt; the full note is in the filing

"NOTE 11 RETIREMENT ANNUITY AND GUARANTEED CONTINUOUS EMPLOYMENT PLANS The Company maintains a number of defined benefit and defined contribution plans to provide retirement benefits for employees. These plans are maintained and contributions are made in accordance with the Employee Retirement Income Security Act of 1974 (""ERISA""), local statutory law or as determined by the Board. The plans generally provide benefits based upon years of service and compensation. Pension plans are funded except for a domestic non-qualified pension plan for certain key employees and certain foreign plans. The Company uses a December 31 measurement date for its plans. The Company does not have, and does not provide for, any postretirement or postemployment benefits other than pensions and certain non-U.S. statutory termination benefits. Defined Benefit Plans Contributions are made in amounts sufficient to fund current service costs on a current basis and to fund past service costs, if any, over various amortization periods. Obligations and Funded Status December 31, 2025 2024 U.S. Non-U.S. U.S. Non-U.S. pension plans pension plans pension plans pension plans Change in benefit obligations Benefit obligations at beginning of year $ 7,862 $ 85,372 $ 8,370 $ 126,030 Service cost 177 1,379 156 1,014 Interest cost 351 3,391 477 3,785 Plan participants' contributions 17 42 Acquisitions & other adjustments (153) (290) (897) (792) Actuarial loss (gain) 192 (2,091) (244) 283 Benefits paid (1,129) ( …

PensionAndOtherPostretirementBenefitsDisclosureTextBlock · excerpt; the full note is in the filing

NOTE 2 REVENUE RECOGNITION The following table presents the Companys Net sales disaggregated by product line: Year Ended December 31, 2025 2024 2023 Consumables $ 2,283,101 $ 2,088,721 $ 2,212,314 Equipment 1,079,603 1,008,524 1,038,290 Automation 870,299 911,425 941,032 Net sales $ 4,233,003 $ 4,008,670 $ 4,191,636 Consumable sales consist of welding, brazing and soldering filler metals. Equipment sales consist of arc welding equipment, laser, plasma and oxyfuel cutting systems, wire feeding systems, fume control equipment, welding accessories, specialty gas regulators, mobile power equipment, wear solutions, software and education solutions. Automation sales consist of a comprehensive portfolio of solutions for joining, cutting, material handling, module assembly, and end of line testing. Consumable and Equipment products are sold within each of the Companys operating segments. Automation products are sold within the Companys Americas Welding and International Welding operating segments. Within the Automation product line, there are certain customer contracts that may include multiple performance obligations. For such arrangements, the Company allocates revenue to each performance obligation based on its relative standalone selling price. The Company generally determines the standalone selling price based on the prices charged to customers or using expected cost plus margin. Approximately 10% of the Companys Net sales are recognized over time. At December 31, 2025, the Comp …

RevenueFromContractWithCustomerTextBlock · excerpt; the full note is in the filing

"NOTE 6 SEGMENT INFORMATION The Company is a high-performance industrial machinery and technology leader who helps customers manufacture and maintain vital equipment and infrastructure. The Companys innovative solutions enable higher quality and productivity across a variety of processes including welding, cutting, brazing, machining, process automation, and field repair. The Companys products include arc welding equipment, filler metals (welding, brazing and soldering consumables), cutting systems (laser, plasma and oxyfuel), wire feeding systems, fume control equipment, welding accessories, specialty gas regulators, mobile power equipment, wear solutions, software, and education solutions; as well as a comprehensive portfolio of automated solutions and system integration services for joining, cutting, material handling, module assembly, and end of line testing. Services include additive manufacturing, precision fabrication, wear services, upfitting, and training. The Company has aligned its organizational and leadership structure into three operating segments to support growth strategies and enhance the utilization of the Companys worldwide resources and global sourcing initiatives. The operating segments consist of Americas Welding, International Welding and The Harris Products Group. The Americas Welding segment includes welding operations in North and South America. The International Welding segment includes welding operations in Europe, Africa, Asia and Australia. The H …

SegmentReportingDisclosureTextBlock · excerpt; the full note is in the filing

NOTE 4 ACQUISITIONS The acquired company discussed below is accounted for as a business combination and is included in the consolidated financial statements as of the date of acquisition. The acquired company is not material to the actual or pro forma Consolidated Statements of Income or Consolidated Statements of Cash Flows; as such, pro forma information related to this acquisition has not been presented. On April 1, 2025, the Company acquired a 35% ownership interest in Alloy Steel Australia (Int) Pty Ltd. (Alloy Steel), a privately held manufacturer of maintenance and repair solutions headquartered in Perth, Australia. On August 1, 2025, the Company acquired the remaining 65% ownership interest in Alloy Steel. In total, the Company acquired 100% ownership of Alloy Steel for a total purchase price of $131,154 , net of cash acquired and certain debt-like items. Alloy Steel supplies proprietary technology, engineering services and digital monitoring to the mining sector. The Company recognized acquisition costs of $356 during the six months ended June 30, 2026 , and $429 and $1,231 during the three and six months ended June 30, 2025, respectively. Acquisition costs are included in Selling, general & administrative expenses on the Consolidated Statements of Income and are expensed as incurred. …

BusinessCombinationDisclosureTextBlock · excerpt; the full note is in the filing

N OTE 10 DEBT At June 30, 2026 and December 31, 2025, debt consisted of the following: June 30, 2026 December 31, 2025 Long-term debt Interest Rate Senior Unsecured Notes 2015 Notes - Series B due August 20, 2030 3.35 % $ 100,000 $ 100,000 2015 Notes - Series C due April 1, 2035 3.61 % 50,000 50,000 2015 Notes - Series D due April 1, 2045 4.02 % 100,000 100,000 2016 Notes - Series A due October 20, 2028 2.75 % 100,000 100,000 2016 Notes - Series B due October 20, 2033 3.03 % 100,000 100,000 2016 Notes - Series C due October 20, 2037 3.27 % 100,000 100,000 2016 Notes - Series D due October 20, 2041 3.52 % 50,000 50,000 2024 Notes - Series A due August 22, 2029 5.55 % 75,000 75,000 2024 Notes - Series B due August 22, 2031 5.62 % 75,000 75,000 2024 Notes - Series C due June 20, 2034 5.74 % 400,000 400,000 Other borrowings due through 2030 Variable (1) 10 1,150,000 1,150,010 Plus interest rate swap adjustment 2,339 2,678 Less current portion Less debt issuance costs 2,285 2,460 Long-term debt, less current portion 1,150,054 1,150,228 Short-term debt Amounts due to banks Variable (2) 143,780 Current portion long-term debt Total short-term debt 143,780 Total debt $ 1,150,054 $ 1,294,008 (1) Interest rate was 7.97% at December 31, 2025. (2) Weighted average interest rate on the revolving credit facility was 4.7% as of December 31, 2025. Weighted average interest rate of other lines of credit related to liquidity needs in a hyperinflationary country was 41.6% as of December 31, 2025 …

DebtDisclosureTextBlock · excerpt; the full note is in the filing

Three Months Ended June 30, Six Months Ended June 30, 2026 2025 2026 2025 Consumables $ 688,009 $ 594,646 $ 1,324,018 $ 1,115,249 Equipment 302,581 277,611 577,738 546,118 Automation 229,073 216,416 439,341 431,694 Net sales $ 1,219,663 $ 1,088,673 $ 2,341,097 $ 2,093,061 …

DisaggregationOfRevenueTableTextBlock · excerpt; the full note is in the filing

NOTE 13 FAIR VALUE The following table provides a summary of assets and liabilities as of June 30, 2026, measured at fair value on a recurring basis: Quoted Prices in Active Markets for Identical Assets or Significant Other Significant Balance as of Liabilities Observable Inputs Unobservable Description June 30, 2026 (Level 1) (Level 2) Inputs (Level 3) Assets: Foreign exchange contracts $ 2,820 $ $ 2,820 $ Net investment contracts 7,254 7,254 Pension surplus 5,966 5,966 Total assets $ 16,040 $ 5,966 $ 10,074 $ Liabilities: Foreign exchange contracts $ 1,510 $ $ 1,510 $ Net investment contracts 528 528 Deferred compensation 28,052 28,052 Total liabilities $ 30,090 $ $ 30,090 $ The following table provides a summary of assets and liabilities as of December 31, 2025, measured at fair value on a recurring basis: Quoted Prices in Active Markets for Identical Assets or Significant Other Significant Balance as of Liabilities Observable Inputs Unobservable Description December 31, 2025 (Level 1) (Level 2) Inputs (Level 3) Assets: Foreign exchange contracts $ 2,731 $ $ 2,731 $ Net investment contracts 102 102 Pension surplus 12,082 12,082 Total assets $ 14,915 $ 12,082 $ 2,833 $ Liabilities: Foreign exchange contracts $ 759 $ $ 759 $ Net investment contracts 12,529 12,529 Deferred compensation 24,456 24,456 Total liabilities $ 37,744 $ $ 37,744 $ The fair value of the Companys pension surplus assets are based on quoted market prices in active markets and are included in the Level 1 f …

FairValueDisclosuresTextBlock · excerpt; the full note is in the filing

NOTE 11 INCOME TAXES The Company recognized $86,335 of tax expense on pre-tax income of $381,236, resulting in an effective income tax rate of 22.6% for the six months ended June 30, 2026. The effective income tax rate was 22.2% for the six months ended June 30, 2025. The effective tax rate was higher for the six months ended June 30, 2026, as compared with the same period in 2025, primarily due to the mix of earnings and timing of discrete tax items. …

IncomeTaxDisclosureTextBlock · excerpt; the full note is in the filing

NOTE 9 LEASES The table below summarizes the right-of-use assets and lease liabilities in the Companys Condensed Consolidated Balance Sheets: Operating Leases Balance Sheet Classification June 30, 2026 December 31, 2025 Right-of-use assets Other assets $ 51,719 $ 52,989 Current liabilities Other current liabilities $ 14,212 $ 13,460 Noncurrent liabilities Other liabilities 37,852 40,061 Total lease liabilities $ 52,064 $ 53,521 The total future minimum lease payments for noncancelable operating leases were as follows: June 30, 2026 2026 $ 9,544 2027 14,273 2028 12,229 2029 8,134 2030 4,063 After 2030 10,697 Total lease payments $ 58,940 Less: Imputed interest 6,876 Operating lease liabilities $ 52,064 As of June 30, 2026 the weighted average remaining lease term is 5.7 years and the weighted average discount rate used to determine the operating lease liability is 3.8%. Other information related to leases was as follows: Three Months Ended Six Months Ended June 30, June 30, 2026 2025 2026 2025 Lease expense (1) $ 8,117 $ 6,444 $ 14,741 $ 12,334 Cash paid for amounts included in the measurement of lease liabilities (2) 4,308 3,990 8,979 6,542 Right-of-use assets obtained in exchange for operating lease liabilities 4,554 4,399 6,070 4,653 (1) Amounts are included in Costs of goods sold and Selling, general and administrative expenses in the Companys Consolidated Statement of Income. (2) Amounts are included in Net Cash Provided by Operating Activities in the Companys Consolidate …

LesseeOperatingLeasesTextBlock · excerpt; the full note is in the filing

NOTE 2 REVENUE RECOGNITION The following table presents the Companys Net sales disaggregated by product line: Three Months Ended June 30, Six Months Ended June 30, 2026 2025 2026 2025 Consumables $ 688,009 $ 594,646 $ 1,324,018 $ 1,115,249 Equipment 302,581 277,611 577,738 546,118 Automation 229,073 216,416 439,341 431,694 Net sales $ 1,219,663 $ 1,088,673 $ 2,341,097 $ 2,093,061 Consumable sales consist of welding, brazing and soldering filler metals. Equipment sales consist of arc welding equipment, laser, plasma and oxyfuel cutting systems, wire feeding systems, fume control equipment, welding accessories, specialty gas regulators, mobile power equipment, wear solutions, software and education solutions. Automation sales consist of a comprehensive portfolio of solutions for joining, cutting, material handling, module assembly, and end of line testing. Consumable and Equipment products are sold within each of the Companys operating segments. Automation products are sold within the Companys Americas Welding and International Welding operating segments. Within the Automation product line, there are certain customer contracts related to automation products that may include multiple performance obligations. For such arrangements, the Company allocates revenue to each performance obligation based on its relative standalone selling price. The Company generally determines the standalone selling price based on the prices charged to customers or using expected cost plus margin. Appr …

RevenueFromContractWithCustomerTextBlock · excerpt; the full note is in the filing

"NOTE 5 SEGMENT INFORMATION The Company is a high-performance industrial machinery and technology leader who helps customers manufacture and maintain vital equipment and infrastructure. The Companys innovative solutions enable higher quality and productivity across a variety of processes including welding, cutting, brazing, machining, process automation, and field repair. The Companys products include arc welding equipment, filler metals (welding, brazing and soldering consumables), cutting systems (laser, plasma and oxyfuel), wire feeding systems, fume control equipment, welding accessories, specialty gas regulators, mobile power equipment, wear solutions, software, and education solutions; as well as a comprehensive portfolio of automated solutions and system integration services for joining, cutting, material handling, module assembly, and end of line testing. Services include additive manufacturing, precision fabrication, wear services, upfitting, and training. The Company has aligned its organizational and leadership structure into three operating segments to support growth strategies and enhance the utilization of the Companys worldwide resources and global sourcing initiatives. The operating segments consist of Americas Welding, International Welding and The Harris Products Group. The Americas Welding segment includes welding operations in North and South America. The International Welding segment includes welding operations in Europe, Africa, Asia and Australia. The H …

SegmentReportingDisclosureTextBlock · excerpt; the full note is in the filing