SEC Filings

10-Q
LINCOLN ELECTRIC HOLDINGS INC filed this Form 10-Q on 10/30/2017
Entire Document
 

Segment Results
Net Sales:  The tables below summarize the impact of volume, acquisitions, price and foreign currency exchange rates on Net sales for the three and nine months ended September 30, 2017:
Three Months Ended September 30th
 
 
Change in Net Sales due to:
 
 
 
Net Sales
2016
 
Volume (1)
 
Acquisitions (2)
 
Price (3)
 
Foreign
Exchange
 
Net Sales
2017
Operating Segments
 

 
 

 
 

 
 

 
 

 
 

Americas Welding
$
377,520

 
$
8,401

 
$
1,140

 
$
9,197

 
$
2,031

 
$
398,289

International Welding
119,564

 
7,988

 
61,520

 
3,446

 
5,099

 
197,617

The Harris Products Group
70,562

 
5,050

 

 
(2,604
)
 
577

 
73,585

 
 
 
 
 
 
 
 
 
 
 
 
% Change
 

 
 

 
 

 
 

 
 

 
 

Americas Welding
 

 
2.2
%
 
0.3
%
 
2.4
%
 
0.5
%
 
5.5
%
International Welding
 

 
6.7
%
 
51.5
%
 
2.9
%
 
4.3
%
 
65.3
%
The Harris Products Group
 

 
7.2
%
 

 
(3.7
%)
 
0.8
%
 
4.3
%
(1) Increase for Americas Welding due to higher consumable volumes. Increase for International Welding due to improving demand in a broad range of end markets. Increase for The Harris Products Group due to higher consumable volumes.
(2) Increase due to the acquisition of Air Liquide Welding within Americas Welding and International Welding (refer to Note 3 to the consolidated financial statements for a discussion of the Company's recent acquisitions).
(3) Increase for Americas Welding and International Welding segments due to increased product pricing as a result of higher input costs. Decrease for The Harris Products Group due to declines in the cost of silver compared to the prior year period.
Nine Months Ended September 30th
 
 
Change in Net Sales due to:
 
 
 
Net Sales
2016
 
Volume (1)
 
Acquisitions (2)
 
Price (3)
 
Foreign
Exchange
 
Net Sales
2017
Operating Segments
 

 
 

 
 

 
 

 
 

 
 

Americas Welding
$
1,124,900

 
$
29,928

 
$
5,832

 
$
25,225

 
$
875

 
$
1,186,760

International Welding
376,684

 
15,712

 
61,520

 
11,068

 
3,019

 
468,003

The Harris Products Group
209,202

 
10,982

 

 
806

 
1,493

 
222,483

 
 
 
 
 
 
 
 
 
 
 
 
% Change
 

 
 

 
 

 
 

 
 

 
 

Americas Welding
 

 
2.7
%
 
0.5
%
 
2.2
%
 
0.1
%
 
5.5
%
International Welding
 

 
4.2
%
 
16.3
%
 
2.9
%
 
0.8
%
 
24.2
%
The Harris Products Group
 

 
5.2
%
 

 
0.4
%
 
0.7
%
 
6.3
%
(1) Increase in all segments due to improving demand in a broad range of end markets.
(2) Increase due to the acquisitions of Vizient Manufacturing Solutions and Air Liquide Welding within Americas Welding and Air Liquide Welding within International Welding (refer to Note 3 to the consolidated financial statements for a discussion of the Company's recent acquisitions).
(3) Increase for Americas Welding and International Welding segments due to increased product pricing as a result of higher input costs.

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