ESAB (ESAB) 10-Q 3 Nov 22 2022 Q3 Quarterly report Financial data

COVER PAGE

COVER PAGE	9 Months Ended
	Sep. 30, 2022 shares
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2022
Document Transition Report	false
Entity File Number	001-41297
Entity Registrant Name	ESAB Corporation
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	87-0923837
Entity Address, Address Line One	909 Rose Avenue
Entity Address, Address Line Two	8th Floor
Entity Address, City or Town	North Bethesda
Entity Address, State or Province	MD
Entity Address, Postal Zip Code	20852
City Area Code	(301)
Local Phone Number	323-9099
Title of 12(b) Security	Common Stock, par value $0.001 per share
Trading Symbol	ESAB
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding	60,076,559
Entity Central Index Key	0001877322
Current Fiscal Year End Date	--12-31
Amendment Flag	false
Document Fiscal Period Focus	Q3
Document Fiscal Year Focus	2022

CONSOLIDATED AND COMBINED CONDE

CONSOLIDATED AND COMBINED CONDENSED STATEMENTS OF OPERATIONS - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Oct. 01, 2021	Sep. 30, 2022	Oct. 01, 2021
Income Statement [Abstract]
Net sales	$ 620,265	$ 605,968	$ 1,929,353	$ 1,803,900
Cost of sales	410,927	398,973	1,268,212	1,178,719
Gross profit	209,338	206,995	661,141	625,181
Selling, general and administrative expense	121,668	124,104	394,026	381,225
Restructuring and other related charges	6,676	4,227	16,629	10,791
Operating income	80,994	78,664	250,486	233,165
Pension settlement gain	(3,300)	0	(3,300)	(11,208)
Interest expense (income) and other, net	12,165	(209)	19,516	(748)
Income from continuing operations before income taxes	72,129	78,873	234,270	245,121
Income tax expense	17,836	17,441	63,629	47,043
Net income from continuing operations	54,293	61,432	170,641	198,078
Loss from discontinued operations, net of taxes	(977)	0	(4,898)	0
Net income	53,316	61,432	165,743	198,078
Less: Income attributable to noncontrolling interest, net of taxes	962	818	2,703	2,399
Net income attributable to ESAB Corporation	$ 52,354	$ 60,614	$ 163,040	$ 195,679
Earnings (loss) per share – basic
Income from continuing operations (in dollars per share)	$ 0.88	$ 1.01	$ 2.78	$ 3.26
Loss on discontinued operations (in dollars per share)	(0.02)	0	(0.08)	0
Net income per share (in dollars per share)	0.86	1.01	2.70	3.26
Earnings (loss) per share – diluted
Income from continuing operations (in dollars per share)	0.88	1.01	2.77	3.26
Loss on discontinued operations (in dollars per share)	(0.02)	0	(0.08)	0
Net income per share - diluted (in dollars per share)	$ 0.86	$ 1.01	$ 2.69	$ 3.26

CONSOLIDATED AND COMBINED CON_2

CONSOLIDATED AND COMBINED CONDENSED STATEMENTS OF COMPREHENSIVE (LOSS) INCOME - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Oct. 01, 2021	Sep. 30, 2022	Oct. 01, 2021
Statement of Comprehensive Income [Abstract]
Net income	$ 53,316	$ 61,432	$ 165,743	$ 198,078
Other comprehensive (loss) income:
Foreign currency translation, net of tax expense of $1,630, $0, $2,328 and $1,491	(98,792)	(35,901)	(245,868)	(62,493)
Unrealized gain on derivatives designated and qualifying as cash flow hedges, net of tax expense of $2,895 and $2,895	9,960	0	9,960	0
Defined benefit pension and other post-retirement plan activity, net of tax expense of $235, $0, $710 and $0	766	270	2,322	698
Other comprehensive loss	(88,066)	(35,631)	(233,586)	(61,795)
Comprehensive (loss) income	(34,750)	25,801	(67,843)	136,283
Less: comprehensive (loss) income attributable to noncontrolling interest	(181)	1,048	(693)	1,707
Comprehensive (loss) income attributable to ESAB Corporation	$ (34,569)	$ 24,753	$ (67,150)	$ 134,576

CONSOLIDATED AND COMBINED CON_3

CONSOLIDATED AND COMBINED CONDENSED STATEMENTS OF COMPREHENSIVE (LOSS) INCOME (Parenthetical) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Oct. 01, 2021	Sep. 30, 2022	Oct. 01, 2021
Statement of Comprehensive Income [Abstract]
Foreign currency translation, tax expense	$ 1,630	$ 0	$ 2,328	$ 1,491
Unrealized gain on hedging activities, tax	2,895		2,895
Amortization of pension and other post-retirement net actuarial gain, tax expense	$ 235	$ 0	$ 710	$ 0

CONSOLIDATED AND COMBINED CON_4

CONSOLIDATED AND COMBINED CONDENSED BALANCE SHEETS - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
CURRENT ASSETS:
Cash and cash equivalents	$ 60,634	$ 41,209
Trade receivables, less allowance for credit losses of $23,564 and $23,912	359,956	383,496
Inventories, net	446,531	420,062
Prepaid expenses	53,174	51,949
Other current assets	67,701	67,357
Total current assets	987,996	964,073
Property, plant and equipment, net	265,185	286,278
Goodwill	1,399,661	1,532,993
Intangible assets, net	452,329	521,434
Lease assets - right of use	89,551	107,944
Other assets	345,181	48,540
Total assets	3,539,903	3,461,262
CURRENT LIABILITIES:
Accounts payable	320,179	345,480
Accrued liabilities	290,403	251,109
Total current liabilities	610,582	596,589
Long-term debt	1,132,415	0
Other liabilities	549,381	362,945
Total liabilities	2,292,378	959,534
Equity:
Common stock - $0.001 par value - Authorized 600,000,000, 60,076,559 and 100 shares outstanding as of September 30, 2022 and December 31, 2021, respectively	60	0
Additional paid-in capital	1,857,918	0
Retained earnings	101,549	0
Former Parent’s investment	0	2,921,623
Accumulated other comprehensive loss	(750,342)	(460,888)
Total ESAB Corporation equity	1,209,185	2,460,735
Noncontrolling interest	38,340	40,993
Total equity	1,247,525	2,501,728
Total liabilities and equity	$ 3,539,903	$ 3,461,262

CONSOLIDATED AND COMBINED CON_5

CONSOLIDATED AND COMBINED CONDENSED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Statement of Financial Position [Abstract]
Trade receivables, allowance for doubtful accounts	$ 23,564	$ 23,912
Common stock, par value (in dollars per share)	$ 0.001	$ 0.001
Common stock, shares authorized (in shares)	600,000,000	600,000,000
Common stock, shares outstanding (in shares)	60,076,559	100

CONSOLIDATED AND COMBINED CON_6

CONSOLIDATED AND COMBINED CONDENSED STATEMENTS OF EQUITY - USD ($) $ in Thousands	Total	Common Stock	Additional Paid in Capital	Retained Earnings	Former Parent’s Investment	Accumulated Other Comprehensive Loss	Noncontrolling Interest
Beginning balance (in shares) at Dec. 31, 2020		0
Beginning balance at Dec. 31, 2020	$ 2,544,767	$ 0	$ 0	$ 0	$ 2,898,831	$ (396,203)	$ 42,139
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	58,534				57,658		876
Distributions to noncontrolling owners	(1,054)						(1,054)
Other comprehensive income (loss), net of tax (expense) benefit	(29,818)					(29,506)	(312)
Net consideration paid to Former Parent in connection with the Separation	(55,069)				(55,069)	0
Common stock-based award activity	1,586				1,586
Ending balance (in shares) at Apr. 02, 2021		0
Ending balance at Apr. 02, 2021	2,518,946	$ 0	0	0	2,903,006	(425,709)	41,649
Beginning balance (in shares) at Dec. 31, 2020		0
Beginning balance at Dec. 31, 2020	2,544,767	$ 0	0	0	2,898,831	(396,203)	42,139
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	198,078
Other comprehensive income (loss), net of tax (expense) benefit	(61,795)
Ending balance (in shares) at Oct. 01, 2021		0
Ending balance at Oct. 01, 2021	2,510,039	$ 0	0	0	2,926,049	(457,306)	41,296
Beginning balance (in shares) at Apr. 02, 2021		0
Beginning balance at Apr. 02, 2021	2,518,946	$ 0	0	0	2,903,006	(425,709)	41,649
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	78,112				77,407		705
Other comprehensive income (loss), net of tax (expense) benefit	3,654					4,264	(610)
Net consideration paid to Former Parent in connection with the Separation	(56,038)				(56,038)	0
Common stock-based award activity	1,663				1,663
Ending balance (in shares) at Jul. 02, 2021		0
Ending balance at Jul. 02, 2021	2,546,337	$ 0	0	0	2,926,038	(421,445)	41,744
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	61,432				60,614		818
Distributions to noncontrolling owners	(1,496)						(1,496)
Other comprehensive income (loss), net of tax (expense) benefit	(35,631)					(35,861)	230
Net consideration paid to Former Parent in connection with the Separation	(62,305)				(62,305)	0
Common stock-based award activity	1,702				1,702
Ending balance (in shares) at Oct. 01, 2021		0
Ending balance at Oct. 01, 2021	$ 2,510,039	$ 0	0	0	2,926,049	(457,306)	41,296
Beginning balance (in shares) at Dec. 31, 2021	100	0
Beginning balance at Dec. 31, 2021	$ 2,501,728	$ 0	0	0	2,921,623	(460,888)	40,993
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	56,403				55,437		966
Distributions to noncontrolling owners	(941)						(941)
Other comprehensive income (loss), net of tax (expense) benefit	(44,403)					(43,895)	(508)
Net consideration paid to Former Parent in connection with the Separation	2,847				62,110	(59,263)
Common stock-based award activity	1,728				1,728
Ending balance (in shares) at Apr. 01, 2022		0
Ending balance at Apr. 01, 2022	$ 2,517,362	$ 0	0	0	3,040,898	(564,046)	40,510
Beginning balance (in shares) at Dec. 31, 2021	100	0
Beginning balance at Dec. 31, 2021	$ 2,501,728	$ 0	0	0	2,921,623	(460,888)	40,993
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	165,743
Other comprehensive income (loss), net of tax (expense) benefit	$ (233,586)
Ending balance (in shares) at Sep. 30, 2022	60,076,559	60,076,559,000
Ending balance at Sep. 30, 2022	$ 1,247,525	$ 60	1,857,918	101,549	0	(750,342)	38,340
Beginning balance (in shares) at Apr. 01, 2022		0
Beginning balance at Apr. 01, 2022	2,517,362	$ 0	0	0	3,040,898	(564,046)	40,510
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	56,024			55,249			775
Dividends declared ($0.05 per share)	(3,025)			(3,025)
Other comprehensive income (loss), net of tax (expense) benefit	(101,118)					(99,373)	(1,745)
Net transfers from Former Parent, including Separation Adjustments	8,533				8,533
Net consideration paid to Former Parent in connection with the Separation	(1,200,000)				(1,200,000)
Issuance of common stock in connection with the Separation and reclassification of Net Investment from Former Parent (in shares)		60,034,311,000
Issuance of common stock in connection with the Separation and reclassification of Net Investment from Former Parent	0	$ 60	1,849,371		(1,849,431)
Common stock-based award activity (in shares)		9,232,000
Common stock-based award activity	3,627		3,627
Ending balance (in shares) at Jul. 01, 2022		60,043,543,000
Ending balance at Jul. 01, 2022	1,281,403	$ 60	1,852,998	52,224	0	(663,419)	39,540
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	53,316			52,354			962
Distributions to noncontrolling owners	(1,019)						(1,019)
Dividends declared ($0.05 per share)	(3,029)			(3,029)
Other comprehensive income (loss), net of tax (expense) benefit	(88,066)					(86,923)	(1,143)
Common stock-based award activity (in shares)		33,016
Common stock-based award activity	$ 4,920		4,920
Ending balance (in shares) at Sep. 30, 2022	60,076,559	60,076,559,000
Ending balance at Sep. 30, 2022	$ 1,247,525	$ 60	$ 1,857,918	$ 101,549	$ 0	$ (750,342)	$ 38,340

CONSOLIDATED AND COMBINED CON_7

CONSOLIDATED AND COMBINED CONDENSED STATEMENTS OF EQUITY (Parenthetical) - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2022	Jul. 01, 2022	Apr. 01, 2022	Oct. 01, 2021	Jul. 02, 2021	Apr. 02, 2021
Statement of Stockholders' Equity [Abstract]
Other comprehensive income (loss), tax (expense) benefit	$ 4,760	$ 594	$ 579	$ 0	$ 0	$ 1,491
Dividends on common stock (in dollars per share)		$ 0.05

CONSOLIDATED AND COMBINED CON_8

CONSOLIDATED AND COMBINED CONDENSED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2022	Oct. 01, 2021
Cash flows from operating activities:
Net income	$ 165,743	$ 198,078
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	48,699	57,305
Stock-based compensation expense	9,532	4,951
Non-cash interest expense	1,673	0
Deferred income tax	(4,725)	(2,710)
Pension settlement gain	(3,300)	(11,208)
Changes in operating assets and liabilities:
Trade receivables, net	(7,361)	(54,826)
Inventories, net	(54,757)	(105,409)
Accounts payable	(10,916)	93,382
Other operating assets and liabilities	(21,673)	12,514
Net cash provided by operating activities	122,915	192,077
Cash flows from investing activities:
Purchases of property, plant and equipment	(21,996)	(18,851)
Proceeds from sale of property, plant and equipment	4,322	1,079
Acquisition, net of cash received	0	(4,885)
Net cash used in investing activities	(17,674)	(22,657)
Cash flows from financing activities:
Proceeds from borrowings on term credit facility	1,000,000	0
Proceeds from borrowings on revolving credit facility and other	495,881	244
Repayments of borrowings on revolving credit facility	(360,000)	0
Payment of deferred financing fees and other	(4,904)	0
Payment of deferred consideration	(1,500)	0
Payment of dividends	(3,025)	0
Distributions to noncontrolling interest holders	(1,960)	(2,550)
Consideration to Former Parent in connection with the Separation	(1,200,000)	0
Transfers from (to) Former Parent, net	2,847	(173,412)
Net cash used in financing activities	(72,661)	(175,718)
Effect of foreign exchange rates on Cash and cash equivalents	(13,155)	(1,416)
Increase (decrease) in Cash and cash equivalents	19,425	(7,714)
Cash and cash equivalents, beginning of period	41,209	49,209
Cash and cash equivalents, end of period	$ 60,634	$ 41,495

Organization and Basis of Prese

Organization and Basis of Presentation	9 Months Ended
	Sep. 30, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization and Basis of Presentation	Organization and Basis of Presentation ESAB Corporation (“ESAB” or the “Company”) is a world leader in fabrication and gas control technology, providing our partners with advanced equipment, consumables, gas control equipment, robotics, and digital solutions, which enable the everyday and extraordinary work that shapes our world. The Company’s products are utilized to solve challenges in a wide range of industries, including cutting, joining and automated welding. The Company conducts its operations through two reportable segments. These segments consist of the “Americas,” which includes operations in North America and South America, and “EMEA & APAC,” which includes Europe, Middle East, India, Africa and Asia Pacific. Historically, these businesses had operated as part of Enovis Corporation’s (“Former Parent” or “Enovis”) Fabrication Technologies reportable segment. The Company’s fiscal year ends December 31. The Company’s first three quarters end on the last business day of the 13 th week after the end of the prior quarter. As used herein, the third quarter results for 2022 and 2021 refer to the 13-week periods ended September 30, 2022 and October 1, 2021, respectively. Separation from Enovis On January 31, 2022, all remaining legal entities which were part of the Fabrication Technology segment of the Former Parent along with certain entities that were part of the Corporate segment of the Former Parent became subsidiaries of ESAB through a legal entity restructuring. This reorganization resulted in the inclusion of the following items in ESAB for the three months ending April 1, 2022: • Certain operating entities that form the historical Fabrication Technology business. • Certain entities which historically have been a part of the Former Parent’s Corporate reportable segment, including components of the Fo rm er Parent’s legal, human resources, tax and other finance functions that served the entirety of the Former Parent. • Certain entities relating to the Former Parent’s previously divested Fluid Handling businesses which hold certain asbestos assets, liabilities, costs and insurance recoveries related to the asbestos obligations of these legacy industrial businesses. Refer to Note 2, “Discontinued Operations” and Note 13, “Commitments and Contingencies” for additional information. • Certain pension plan assets and liabilities due to transfer of sponsorship of two U.S. defined benefit plans and a U.S. other post-retirement benefit plan from the Former Parent to ESAB as of March 21, 2022. Refer to Note 8, “Benefit Plans” for additional information on the benefit plans transferred to ESAB. The above items, with the exception of the operating entities that form the Fabrication Technology business, were not previously included in the Company’s 2019 to 2021 historical carve-out financial statements. These historical carve-out financial statements in ESAB’s Registration Statement on Form 10-12B/A filed with the SEC on March 17, 2022 (the “Form 10”), were presented on a combined basis. Such basis of accountin g differences before and after the legal entity contributions may impact the comparability between periods in these Consolidated and Combined Condensed Financial Statements. ESAB Corporation, which was incorporated on May 19, 2021, became the new ultimate parent company for the Former Parent’s Fabrication Technology business during the three months ended April 1, 2022. On April 4, 2022 (the “Distribution Date”), Colfax Corporation (“Colfax” or the “Former Parent”) completed the spin-off of Colfax’s Fabrication Technology business and certain other corporate entities as described above, through a tax-free, pro rata distribution (the “Distribution”) of 90% of the outstanding common stock of ESAB to Colfax stockholders (the “Separation”). To effect the Separation, each Colfax stockholder of record as of close of business on March 23, 2022 received one share of ESAB common stock for every three shares of Colfax common stock held on the record date. Upon completion of the Distribution, Colfax changed its name to Enovis Corporation and continued to hold 10% of the outstanding common stock of ESAB. Enovis is expected to divest the 10% retained shares in ESAB within 12 months after the Distribution Date. In connection with the Separation, on April 4, 2022, ESAB and Enovis entered into a separation and distribution agreement as well as various other related agreements (collectively the “Agreements”) that govern the Separation and the relationships between the parties going forward, including a transition services agreement, an employee matters agreement, a tax matters agreement, an intellectual property matters agreement, and license agreement for the ESAB Business Excellence System (“EBX”). In conjunction with the Separation on April 4, 2022, the Company entered into a credit agreement (the “Credit Agreement”). The Company drew down $1.2 billion under the Credit Agreement and used these proceeds to make payments to Enovis of $1.2 billion, which was used as part of the consideration for the contribution of certain assets and liabilities to the Company by Enovis in connection with the Separation. The Company entered into interest rate swap agreements and cross-currency swap agreements to manage exposures to currency exchange rates and interest rates arising from these credit facilities; refer to Note 9 “Debt” and Note 10 “Derivatives” for additional information. On May 12, 2022, ESAB declared a quarterly cash dividend of $0.05 per share of the Company’s common stock. The dividend of $3.0 million was paid to stockholders of record on July 1, 2022. On September 15, 2022 ESAB announced that the Board of Directors had declared a quarterly cash dividend of $0.05 per share of the Company’s common stock to stockholders of record on September 30, 2022, payable on October 14, 2022. The dividend of $3.0 million is included in Accrued liabilities in the Consolidated Balance Sheet at September 30, 2022. Russia and Ukraine Conflict The invasion of Ukraine by Russia and the sanctions imposed in response to this crisis have increased the level of economic and political uncertainty. On April 25, 2022, ESAB announced that the Company may be required to transition out of its business in Russia and are evaluating options and possible timing for this transition. ESAB continues to fulfill current contractual obligations while addressing applicable laws and regulations. For the three and nine months ended September 30, 2022, Russia represented approximately 7% and 6% of the Company’s total revenue, and approximately $7 million and $14 million of its Net Income, respectively. Russia also has approximately 6% of the Company’s total net assets excluding any goodwill allocation as of September 30, 2022. In case of the disposition of the Russia business, a portion of goodwill will need to be allocated and disposed of in the relative fair value attributable to the Russia business. Russia has a cumulative translation loss of approximately $50 million as of September 30, 2022, which could be realized upon a transition. To cover credit risks related to Russian and Ukrainian operations, ESAB increased the allowance on receivables by approximately $4 million during the nine months ended September 30, 2022. The Company is closely monitoring the developments in Ukraine and Russia. Changes in laws and regulations or other factors impacting the Company’s ability to fulfill contractual obligations could have an adverse effect on the results of operations. Basis of Presentation The accompanying Consolidated and Combined Condensed Financial Statements present the Company’s historical financial position, results of operations, changes in equity and cash flows in accordance with generally accepted accounting principles in the United States of America (“GAAP”). The combined condensed financial statements for periods prior to the Separation were derived from Enovis’s consolidated financial statements and accounting records and prepared in accordance with GAAP for the preparation of carved-out combined financial statements. Through the date of the Separation, all revenues and costs as well as assets and liabilities directly associated with ESAB have been included in the combined financial statements. Prior to the Separation, the combined condensed financial statements also included allocations of certain general, administrative, sales and marketing expenses from Enovis’s corporate office and from other Enovis businesses to the Company and allocations of related assets, liabilities, and the Former Parent’s investment, as applicable. The allocations were determined on a reasonable basis, however, the amounts are not necessarily representative of the amounts that would have been reflected in the financial statements had the Company been an entity that operated independently of Enovis during the applicable periods. Re lated party a llocations prior to the Separation, including the method for such allocation, are discussed further in Note 15, “Related Party Transactions.” Following the Separation, the consolidated financial statements include ESAB and its wholly-owned subsidiaries and no longer include any allocations of expenses from Enovis. Accordingly: • The Consolidated Balance Sheet as of September 30, 2022, consists of the consolidated balances of ESAB, while the Combined Condensed Balance Sheet as of December 31, 2021, consists of the combined balances of the former Fabrication Technology business of Enovis. • The Consolidated and Combined Condensed Statement of Operations and Statement of Comprehensive Income for the nine months ended September 30, 2022 consist of the consolidated results of ESAB for the six months ended September 30, 2022 and the combined results of the former Fabrication Technology business of Enovis and the certain entities discussed in the “Separation from Enovis” section above for the three months ended April 1, 2022. The Combined Condensed Statement of Operations and Statement of Comprehensive Income for the three and nine months ended October 1, 2021 consist of the combined results of the former Fabrication Technology business of Enovis. • The Consolidated and Combined Condensed Statement of Changes in Equity for the nine months ended September 30, 2022 consists of the consolidated activities of ESAB for the six months ended September 30, 2022 and the combined activity of the former Fabrication Technology business of Enovis and the certain entities discussed in the “Separation from Enovis” section above for the three months ended April 1, 2022. The Combined Condensed Statements of Changes in Equity for the three and nine months ended October 1, 2021 consist of the combined activity of the former Fabrication Technology business of Enovis. • The Consolidated and Combined Condensed Statement of Cash Flows for the nine months ended September 30, 2022 consists of the consolidated activities of ESAB for the six months ended September 30, 2022 and the combined activity of ESAB and the former Fabrication Technology business of Enovis and the certain entities discussed in the “Separation from Enovis” section above for the three months ended April 1, 2022. The Combined Condensed Statement of Cash Flows for the three and nine months ended October 1, 2021 consist of the combined activity of the former Fabrication Technology business of Enovis. The Consolidated and Combined Condensed Financial Statements of ESAB for the three and nine months ended October 1, 2021 and the three months ended April 1, 2022 may not be indicative of the Company's results had it been a separate stand-alone entity throughout the periods presented, nor are the results stated herein indicative of what the Company's financial position, results of operations and cash flows may be in the future. Prior to the Separation, the Company was dependent on the Former Parent for all of its working capital and financing requirements under Enovis’s centralized approach to cash management and financing of its operations. With the exception of cash, cash equivalents and borrowings clearly associated with ESAB and related to the Separation, financing transactions relating to the Company during the period prior to the Separation were accounted for through the Former Parent’s investment account of the Company. Accordingly, none of Enovis’s cash, cash equivalents or debt at the corporate level has been assigned to the Company in these financial statements. Former Parent’s Investment, which included retained earnings, represented Enovis’s interest in the recorded net assets of the Company. All significant transactions between the Company and the Former Parent prior to the Separation have been included in the accompanying Financial Statements. Transactions with the Former Parent are reflected in the accompanying Consolidated and Combined Condensed Statements of Equity as “Transfers from Former Parent, net” and in the accompanying Consolidated and Combined Condensed Balance Sheets within “Former Parent’s investment”. The Consolidated and Combined Condensed Financial Statements reflect, in the opinion of management, all adjustments, which consist solely of normal recurring adjustments, necessary to present fairly the Company’s financial position and results of operations as of and for the periods indicated. Intercompany transactions and accounts are eliminated in consolidation. The Company makes certain estimates and assumptions in preparing its Consolidated and Combined Condensed Financial Statements in accordance with GAAP. These estimates and assumptions affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities as of the date of the Consolidated and Combined Condensed Financial Statements and the reported amounts of revenues and expenses for the periods presented. Actual results may differ from those estimates. In the normal course of business, the Company incurs research and development costs related to new product development which are expensed as incurred and included in Selling, general and administrative expenses on the Company’s Consolidated and Combined Condensed Statements of Operations. Research and development costs were $8.0 million and $27.1 million during the three and nine months ended September 30, 2022, respectively, a nd $9.1 million and $28.9 million d uring the three and nine months ended October 1, 2021, respectively. In addition to the factors discussed elsewhere in this Form 10-Q, the results of operations for the three and nine months ended September 30, 2022, are not necessarily indicative of the results of operations that may be achieved for the full year. Quarterly results are affected by seasonal variations in the Company’s businesses, and European operations typically experience a slowdown during the July, August and December holiday seasons. Since 2020, these historical seasonality trends have been impacted by the worldwide spread of a novel coronavirus disease (“COVID-19”). These Consolidated and Combined Condensed Financial Statements included in this quarterly report have been prepared by the Company in accordance with the rules and regulations of the Securities and Exchange Commission (“SEC”) in conformity with GAAP, for the preparation of the Consolidated and Combined Condensed Financial Statements and are unaudited. Certain financial information that is normally included in annual financial statements prepared in accordance with GAAP, but that is not required for interim reporting purposes, has been omitted. The accompanying interim Consolidated and Combined Condensed Financial Statements and the related notes should be read in conjunction with the Company’s Combined Financial Statements and related notes included in the Company’s Form 10.

Discontinued Operations

Discontinued Operations	9 Months Ended
	Sep. 30, 2022
Discontinued Operations and Disposal Groups [Abstract]
Discontinued Operations	Discontinued Operations The Company holds certain asbestos-related contingencies and insurance coverages from divested businesses for which it does not have an interest in the ongoing operations. The entities that hold these assets and liabilities became subsidiaries of the Company during the three months ended April 1, 2022 in connection with the Separation. These assets and liabilities were not included in the Company’s historical Combined Financial Statements for 2021 as the Company did not have legal title to these assets, nor was the Company the legal obligor of these liabilities. The 2022 amounts reflect income, expenses, assets and liabilities historically recorded within the Former Parent’s divested businesses that were not part of Former Parent’s Fabrication Technology segment. Refer to “Note 1, Organization and Basis of Presentation” for additional information. The Company has classified asbestos-related activity in its Consolidated and Combined Condensed Statements of Operations as part of Loss from discontinued operations, net of taxes. See Note 13, “Commitments and Contingencies” for further information. Cas h used in operating activities related to discontinued operations for the three and nine months ended September 30, 2022 was $5.6 million and $19.3 million, respectively.

Revenue

Revenue	9 Months Ended
	Sep. 30, 2022
Revenue from Contract with Customer [Abstract]
Revenue	Revenue The Company develops, manufactures and supplies consumable welding and cutting products and equipment, as well as gas control equipment. The Company provides a wide range of products with innovative technologies to solve challenges in a range of industries, including cutting, joining and automated welding. Substantially all revenue is recognized at a point in time. The Company disaggregates its revenue into the following product groups: Three Months Ended Nine Months Ended September 30, 2022 October 1, 2021 September 30, 2022 October 1, 2021 (In thousands) Equipment $ 168,633 $ 192,365 $ 547,555 $ 564,971 Consumables 451,632 413,603 1,381,798 1,238,929 Total $ 620,265 $ 605,968 $ 1,929,353 $ 1,803,900 The sales mix in the above table is relatively consistent across both reportable segments. The consumables product grouping generally has less production complexity and shorter production cycles than equipment products. Given the nature of the business, the total amount of unsatisfied performance obligations with an original contract duration of greater than one year as of September 30, 2022 is immaterial. In some circumstances, customers are billed in advance of revenue recognition, resulting in contract liabilities. As of December 31, 2021 and December 31, 2020, total contract liabilities were $22.3 million and $21.6 million, respectively, and were included in Accrued liabilities on the Consolidated and Combined Condensed Balance Sheets. During the three and nine months ended September 30, 2022, revenue recognized that was included in the contract liability balance at the beginning of the year w as $4.6 million and $19.0 million, res pectively. During the three and nine months ended October 1, 2021, revenue recognized that was included in the contract liability balance at the beginning of the year was $3.1 million and $19.4 million, respectively. As of September 30, 2022 and October 1, 2021 total contract liabilities were $22.5 million and $19.9 million, respectively, and were included in Accrued liabilities on the Company’s Consolidated and Combined Condensed Balance Sheets. Allowance for Credit Losses A summary of the activity in the Company’s allowance for credit losses included within Trade receivables in the Consolidated and Combined Condensed Balance Sheets is as follows: Nine Months Ended September 30, 2022 Balance at Charged to Expense, net Write-Offs and Deductions Foreign Balance at (In thousands) Allowance for credit losses $ 23,912 $ 4,756 $ (4,633) $ (471) $ 23,564

Earnings per Share from Continu

Earnings per Share from Continuing Operations	9 Months Ended
	Sep. 30, 2022
Earnings Per Share [Abstract]
Earnings per Share from Continuing Operations	Earnings per Share from Continuing Operations The Company has unvested share-based payment awards with a right to receive non-forfeitable dividends, which are considered participating securities. The Company allocates earnings to participating securities and computed earnings per share using the two-class method as follows: Three Months Ended Nine Months Ended September 30, 2022 October 1, 2021 September 30, 2022 October 1, 2021 (In thousands, except share and per share data) Computation of earnings per share from continuing operations – basic: Income from continuing operations attributable to ESAB Corporation (1) $ 53,331 $ 60,614 $ 167,938 $ 195,679 Less: distributed and undistributed earnings allocated to nonvested shares (407) — (1,152) — Income from continuing operations attributable to common stockholders $ 52,924 $ 60,614 $ 166,786 $ 195,679 Weighted-average shares of Common stock outstanding – basic 60,063,553 60,034,311 60,045,306 60,034,311 Income per share from continuing operations – basic $ 0.88 $ 1.01 $ 2.78 $ 3.26 Computation of earnings per share from continuing operations – diluted: Income from continuing operations attributable to common stockholders $ 52,924 $ 60,614 $ 166,786 $ 195,679 Weighted-average shares of Common stock outstanding – diluted 60,063,553 60,034,311 60,045,306 60,034,311 Net effect of potentially dilutive securities 99,668 — 82,378 — Weighted-average shares of Common stock outstanding – dilution 60,163,221 60,034,311 60,127,684 60,034,311 Net income per share from continuing operations – diluted $ 0.88 $ 1.01 $ 2.77 $ 3.26 (1) Net income from continuing operations attributable to ESAB Corporation for the respective periods is calculated using Net income from continuing operations, less Income attributable to noncontrolling interest, net of taxes, of $1.0 million and $2.7 million for the three and nine months ended September 30, 2022, respectively, and $0.8 million and $2.4 million for the three and nine months ended October 1, 2021, respectively.

Income Taxes

Income Taxes	9 Months Ended
	Sep. 30, 2022
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes During the three and nine months ended September 30, 2022, Income from continuing operations before income taxes was $72.1 million and $234.3 million, respectively , while Income tax expense was $17.8 million and $63.6 million , respectively. The effective tax rat e was 24.7% and 27.2% for the three and nine months ended September 30, 2022, respectively. The effective tax rates differed from the 2022 U.S. federal statutory rate of 21% primarily due to the impact of withholding taxes and non-deductible expenses. During the three and nine months ended October 1, 2021, Income from continuing operations before income taxes was $78.9 million and $245.1 million, respectively, while Income tax expense was $17.4 million and $47.0 million, respectively. The effective tax rate was 22.1% and 19.2% for the three and nine months ended October 1, 2021, respectively. The effective tax rates differed from the 2021 U.S. federal statutory rate of 21% primarily due to the recognition of discrete tax benefits as a result of audit settlements that occurred in first nine months of 2021. Additionally, the Company’s foreign earnings in the first nine months of 2021 were taxed at lower rates than the U.S federal statutory rate.

Inventories, Net

Inventories, Net	9 Months Ended
	Sep. 30, 2022
Inventory Disclosure [Abstract]
Inventories, Net	Inventories, Net Inventories, net consisted of the following: September 30, 2022 December 31, 2021 (In thousands) Raw materials $ 152,316 $ 148,376 Work in process 45,099 39,595 Finished goods 286,132 268,831 483,547 456,802 LIFO reserve (204) 1,129 Less: allowance for excess, slow-moving and obsolete inventory (36,812) (37,869) $ 446,531 $ 420,062 At September 30, 2022 and December 31, 2021 , 33% and 34% of total inventories, respectively, were valued using the LIFO method.

Accrued and Other Liabilities

Accrued and Other Liabilities	9 Months Ended
	Sep. 30, 2022
Accrued Liabilities [Abstract]
Accrued and Other Liabilities	Accrued and Other Liabilities Accrued and Other liabilities in the Consolidated and Combined Condensed Balance Sheets consisted of the following: Current Noncurrent Current Noncurrent September 30, 2022 December 31, 2021 (In thousands) Accrued taxes and deferred tax liabilities $ 57,813 $ 169,839 $ 58,920 $ 203,760 Compensation and related benefits 70,203 62,299 74,587 62,215 Asbestos liability 34,841 236,757 — — Contract liability 22,475 — 22,265 — Lease liability 20,323 72,060 23,110 88,777 Warranty liability 13,721 — 14,954 — Third-party commissions 14,964 — 16,130 — Restructuring liability 6,747 100 7,834 275 Other 49,316 8,326 33,309 7,918 $ 290,403 $ 549,381 $ 251,109 $ 362,945 Accrued Warranty Liability A summary of the activity in the Company’s warranty liability included in Accrued liabilities in the Company’s Consolidated and Combined Condensed Balance Sheets is as follows: Nine Months Ended September 30, 2022 October 1, 2021 (In thousands) Warranty liability, beginning of period $ 14,954 $ 14,022 Accrued warranty expense 4,367 5,661 Changes in estimates related to pre-existing warranties 2,190 1,401 Cost of warranty service work performed (6,815) (5,626) Foreign exchange translation effect (975) (256) Warranty liability, end of period $ 13,721 $ 15,202 Accrued Restructuring Liability The Company’s restructuring programs include a series of actions to reduce the structural costs of the Company. A summary of the activity in the Company’s restructuring liability included in Accrued liabilities and Other liabilities in the Consolidated and Combined Condensed Balance Sheets is as follows: Nine Months Ended September 30, 2022 Balance at Beginning of Period Charges Payments Foreign Currency Translation Balance at End of Period (In thousands) Restructuring and other related charges: Americas Termination benefits (1) $ 2,044 $ 1,691 $ (2,708) $ (7) $ 1,020 Facility closure costs and other (2) 50 10,022 (10,013) — 59 Subtotal 2,094 11,713 (12,721) (7) 1,079 Non-cash charges (2) (37) Segment Total 11,676 EMEA & APAC Termination benefits (1) 5,774 2,622 (2,879) (174) 5,343 Facility closure costs and other (2) 241 2,331 (2,131) (16) 425 Subtotal 6,015 4,953 (5,010) (190) 5,768 Non-cash charges (2) — Segment Total 4,953 Total $ 8,109 16,666 $ (17,731) $ (197) $ 6,847 Non-cash charges (2) (37) Total Provision $ 16,629 (1) Includes severance and other termination benefits, including outplacement services. (2) Includes the cost of relocating associates, relocating equipment, lease termination expense and other costs in connection with the closure and optimization of facilities and product lines.

Benefit Plans

Benefit Plans	9 Months Ended
	Sep. 30, 2022
Retirement Benefits [Abstract]
Benefit Plans	Benefit Plans The Company sponsors various defined benefit plans and other post-retirement benefits plans, including health and life insurance, for certain eligible employees or former employees. As part of the Separation, certain U.S. defined benefit and other post-retirement plans, formerly sponsored by the Former Parent, were transferred to the Company as of March 21, 2022. As a result of the transfer, the related net plan obligations of approximate ly $10.6 million are included within the Company’s Consolidated Balance Sheet at September 30, 2022. The transferred plans include a defined benefit pension plan with assets of $201.2 million and projected benefit liabilities of $200.6 million and two unfunded defined benefit and other post-retirement benefit plans with liabilities of $11.7 million, all of which were recorded in the financial statements of the Former Parent at December 31, 2021. The pretax net unrecognized pension and other post-retirement benefit cost included in Accumulated other comprehensive loss at April 1, 2022 for the transferred plans was approximately $50 million. The net plan assets and obligations are presented within Compensation and related benefits in Note 7, “Accrued and Other Liabilities”. The Former Parent offered both funded and unfunded noncontributory defined benefit pension plans in the U.S. that are shared amongst its businesses, including the Company prior to becoming plan sponsor. The participation of the Company’s employees and retirees in this plan is reflected in the Company’s historical Combined Financial Statements as though it participated in a multiemployer plan with the Former Parent. As a result, a proportionate share of the cost associated with this defined benefit plan is reflected in the Company’s historical Combined Financial Statements, while any assets and liabilities associated with this defined benefit plan were retained by the Former Parent and were not recorded on the Company’s historical Combined Financial Statements, prior to the Separation. Net periodic pension benefit income related to this Former Parent-sponsored plan was allocated to the Company based on the Company’s share of total Former Parent headcount and is reflected within Interest expense (income) and other, net, in the Consolidated and Combined Condensed Statements of Operations for the three months ended April 1, 2022 and nine months ended October 1, 2021. Net periodic benefit cost of the Company’s defined benefit pension plan was $0.2 million and $0.6 million for the three and nine months ended September 30, 2022, respectively, and was $0.7 million and $1.4 million for the three and nine months ended October 1, 2021, respectively. In the nine months ended September 30, 2022, contributions of $0.8 million to U.S. pension plans and $3.5 million to foreign pension plans were made. In the three months ended September 30, 2022, the Company recognized a pension settlement gain of $3.3 million related to the completed buy-out of a foreign defined benefit plan by a third party. During the nine months ended October 1, 2021, the Company recognized a pension settlement gain of $11.2 million when the independent trustees of a Company pension plan agreed to merge that plan with another Company pension plan and contribute its surplus assets. These amounts are reflected in Pension settlement gain in the Consolidated and Combined Condensed Statements of Operations.

Debt

Debt	9 Months Ended
	Sep. 30, 2022
Debt Disclosure [Abstract]
Debt	Debt Long-term debt consisted of the following: September 30, 2022 (In thousands) Term loans $ 997,415 Revolving credit facilities 135,000 Long-term debt $ 1,132,415 Term Loans and Revolving Credit Facility On April 4, 2022, the Company entered into a credit agreement (as amended and restated from time-to-time, the “Credit Agreement”) in connection with the Separation. The Credit Agreement initially consisted of the following facilities: • A $750 million revolving credit facility (the “Revolving Facility”) with a maturity date of April 4, 2027; • A Term A-1 loan with an initial aggregate principal amount of $400 million (the “Term Loan A-1 Facility”), with a maturity date of April 4, 2027; and, • A $600 million 364-day senior term loan facility (the “Term Loan A-2 Facility”) with a maturity date of April 3, 2023. The Revolving Facility contains a $300 million letter of credit foreign currency sublimit and a $50 million swing line loan sub-facility. On April 4, 2022, the Company drew down $1.2 billion available under the credit facilities made up of (i) $200 million under the Revolving Facility, (ii) $400 million under the Term Loan A-1 Facility and (iii) $600 million under the Term Loan A-2 Facility. The Company used these proceeds to make payments to Enovis of $1.2 billion, which was used as part of the consideration for the contribution of certain assets and liabilities to the Company by Enovis in connection with the Separation. On June 28, 2022, the Company amended and restated the Credit Agreement by entering into Amendment No. 2 to Credit Agreement (“Credit Agreement Amendment”). The Credit Agreement Amendment provides for a $600 million term loan facility (the “Term Loan A-3 Facility” and, together with the Term Loan A-1 Facility, the “Term Facilities”, and together with the Revolving Facility, the “Facilities”) with a maturity date of April 3, 2025 to refinance the Company’s existing Term Loan A-2 Facility. Also on June 28, 2022, the Company borrowed the entire $600 million under Term Loan A-3 Facility to fund the repayment of the Term Loan A-2 Facility. The Company’s total borrowing capacity under the Credit Agreement remains unchanged. The draw-down and repayment related to these term facilities are presented net within the Consolidated and Combined Condensed Statements of Cash Flows. The Credit Agreement contains customary covenants limiting the ability of the Company and its subsidiaries to, among other things, incur debt or liens, merge or consolidate with others, dispose of assets, make investments or pay dividends. In addition, the Credit Agreement contains financial covenants requiring the Company to maintain (i) a maximum total leverage ratio of not more than 4.00:1.00, with step-downs to, commencing with the fiscal quarter ending June 30, 2023, 3.75:1.00, and commencing with the fiscal quarter ending June 30, 2024, 3.50:1.00, and (ii) a minimum interest coverage ratio of 3.00:1:00. The Credit Agreement contains various events of default (including failure to comply with the covenants under the Credit Agreement and related agreements) and upon an event of default the lenders may, subject to various customary cure rights, require the immediate payment of all amounts outstanding under the Term Facilities and the Revolving Facility. Certain U.S. subsidiaries of the Company have agreed to guarantee the obligations of the Company under the Credit Agreement. Loans made under the Term Facilities will bear interest, at the election of the Company, at either the base rate (as defined in the Credit Agreement) or at the term Secured Overnight Financing Rate (“SOFR”) rate plus an adjustment (as defined in the Credit Agreement), in each case, plus the applicable interest rate margin. Loans made under the Revolving Facility will bear interest, at the election of the Company, at either the base rate or, (i) in the case of loans denominated in dollars, the term SOFR rate plus an adjustment or the daily simple SOFR plus an adjustment, (ii) in the case of loans denominated in euros, the adjusted Euro Interbank Offered Rate (“EURIBOR”) rate and, (iii) in the case of loans denominated in sterling, Sterling Overnight Index Average (“SONIA”) plus an adjustment (as all such rates are defined in the Second Credit Agreement), in each case, plus the applicable interest rate margin. The applicable interest rate margin changes based upon the Company’s total leverage ratio (ranging from 1.125% to 1.750% or in the case of the base rate margin, 0.125% to 0.750%). Each swing line loan denominated in dollars will bear interest at the base rate plus the applicable interest rate margin. To manage exposures to currency exchange rates and interest rates arising in Long-term debt, the Company entered into interest rate and cross currency swap agreements during the three months ended September 30, 2022, refer to Note 10, “Derivatives” for additional information. As of September 30, 2022, the weighted-average interest rate of borrowings under the Credit Agreement was 3.82% , including the net impact from the interest rate swaps and excluding accretion of deferred financing fees, and there was $615 million available on the Revolving Facility. Other Indebtedness In addition to the debt agreements discussed above, the Company also has the ability to incur $50 million of indebtedness pursuant to certain uncommitted credit lines, consisting of an uncommitted credit line that the Company currently has in place that the Company has used from time to time in the past for short-term working capital needs. The Company is party to letter of credit facilities with an aggregate capacity of $107.5 million. Total letters of credit of $29.4 million were outstanding as of September 30, 2022. Deferred Financing Fees

Derivatives

Derivatives	9 Months Ended
	Sep. 30, 2022
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivatives	Derivatives The Company uses derivative instruments to manage exposures to currency exchange rates and interest rates arising in connection with Long-term debt and the normal course of business. The Company has established policies and procedures that govern the risk management of these exposures. Both at inception and on an ongoing basis, the derivative instruments that qualify for hedge accounting are assessed as to their effectiveness, when applicable. The Company is subject to the credit risk of counterparties to derivative instruments. Counterparties include a number of major banks and financial institutions. None of the concentrations of risk with an individual counterparty was considered significant as of September 30, 2022. The Company does not expect any counterparties to fail to meet their obligations. The Company records derivatives in the Consolidated and Combined Condensed Balance Sheets at fair value. Cash Flow Hedges On July 14, 2022, the Company entered into two interest rate swap agreements to manage interest rate risk exposure. The aggregate notional amount of these contracts is $600 million and they mature in April 2025. These interest rate swap agreements utilized by the Company effectively modify the Company’s exposure to interest rate risk by converting a portion of the Company’s floating-rate debt to a fixed rate of 3.293%, plus a spread, thus reducing the impact of interest-rate changes on future interest expense. The applicable spread may vary between 1.125% to 1.750%, depending on the total leverage ratio of the Company. The spread is 1.500% as of September 30, 2022. These agreements involve the receipt of floating-rate amounts in exchange for fixed-rate interest payments over the life of the agreement without an exchange of the underlying principal amount. The above interest rate swap agreements are designated and qualify as a cash flow hedge and as such, the gain or loss on the derivative instrument due to the change in fair value is reported as a component of accumulated other comprehensive income (“AOCI”) and reclassified into earnings in the same period or periods during which the hedged transaction affects earnings. If a derivative is deemed to be ineffective, the change in fair value of the derivative is recognized directly in earnings. As of September 30, 2022 the cash flow hedges were perfectly effective. The cash inflows and outflows associated with the Company’s interest rate swap agreements designated as cash flow hedges are classified in cash flows from operating activities in the accompanying Consolidated and Combined Condensed Statements of Cash Flows. The Company expects a gain of $4.2 million, net of tax, related to interest rate swap agreements to be reclassified from AOCI to earnings over the next 12 months as the hedged transactions are realized. The expected gain to be reclassified is based on current forward rates in active markets as of September 30, 2022. The effects of designated cash flow hedges on the Company’s Consolidated and Combined Condensed Statements of Operations consisted of the following: Three Months Ended Derivative type Loss recognized in the Consolidated and Combined Condensed Statements of Operations: September 30, 2022 (In thousands) Interest rate swap agreements Interest expense (income) and other, net $ 1,045 Net Investment Hedges On July 22, 2022 the Company entered into two cross-currency swap agreements to partially hedge its net investment in its Euro-denominated subsidiaries against adverse movements in exchange rates between the U.S. Dollar and the Euro. In addition, the cross-currency swap agreements are agreements to exchange fixed-rate payments in U.S. Dollar for fixed-rate payments in Euro and are designated and qualify as a net investment hedge. These contracts have a Euro aggregate notional amount of approximately €270 million and a U.S. Dollar aggregate notional amount of $275 million at September 30, 2022, and they mature in April 2025. The changes in the spot rate of these instruments are recorded in AOCI in equity, partially offsetting the foreign currency translation adjustment of the Company’s related net investment that is also recorded in AOCI. The Company uses the spot method of assessing hedge effectiveness and as such, the initial value of the hedge components excluded from the assessment of effectiveness is recognized in the Interest expense (income) and other, net line item in the Consolidated and Combined Condensed Statement of Operations under a systematic and rational method over the life of the cross-currency swap agreements. Any ineffective portions of net investment hedges are reclassified from accumulated other comprehensive income (loss) into earnings during the period of change. As of September 30, 2022 the net investment hedges were perfectly effective. The cash inflows and outflows associated with the excluded components of the Company’s cross-currency swap agreements designated as net investment hedges are classified in operating activities in the accompanying Consolidated and Combined Condensed Statements of Cash Flows. The table below shows the fair value of the derivatives recognized in the Consolidated Balance Sheet and also the effects of designated hedges on AOCI: September 30, 2022 Designated as hedging instruments: Other Assets Total gain recognized in AOCI, net of tax (In thousands) Cross currency swap agreements $ 9,578 $ 7,421 Interest rate swap agreements 12,855 9,960 Total $ 22,433 $ 17,381 Derivatives Not Designated as Hedging Instruments The Company has certain foreign currency contracts that are not designated as hedges. As of September 30, 2022 and December 31, 2021, the Company had foreign currency contracts related to purchases and sales with notional values of $183.1 million and $180.8 million, respectively. The Company recognized the following in its Consolidated and Combined Condensed Financial Statements related to its derivative instruments not designated in a hedging relationship: Three Months Ended Nine Months Ended Foreign currency contracts September 30, 2022 October 1, 2021 September 30, 2022 October 1, 2021 (In thousands) Change in unrealized gains (losses) $ 279 $ (2,374) $ 469 $ (6,108) Realized loss (1) (740) (1,383) (17,235) (1,472)

Fair Value Measurements

Fair Value Measurements	9 Months Ended
	Sep. 30, 2022
Fair Value Disclosures [Abstract]
Fair Value Measurements	Fair Value Measurements The carrying values of financial instruments, including Trade receivables and Accounts payable, approximate their fair values due to their short-term maturities. The estimated fair values may not represent actual values of the financial instruments that could be realized as of the balance sheet date or that will be realized in the future. A summary of the Company’s assets and liabilities that are measured at fair value for each fair value hierarchy level for the periods presented is as follows: September 30, 2022 Level Level Level Total (In thousands) Assets: Cash equivalents $ 6,633 $ — $ — $ 6,633 Foreign currency contracts - not designated as hedges (1) — 2,432 — 2,432 Cross currency swap agreements — 9,578 — 9,578 Interest rate swap agreements — 12,855 — 12,855 Deferred compensation plans — 2,189 — 2,189 $ 6,633 $ 27,054 $ — $ 33,687 Liabilities: Foreign currency contracts - not designated as hedges (2) $ — $ 2,153 $ — $ 2,153 Deferred compensation plans — 2,189 — 2,189 $ — $ 4,342 $ — $ 4,342 (1) Included within Other Current Assets in the Consolidated Balance Sheet. (2) Included within Accrued Liabilities in the Consolidated Balance Sheet. December 31, 2021 Level Level Level Total (In thousands) Assets: Cash equivalents $ 8,133 $ — $ — $ 8,133 Foreign currency contracts - not designated as hedges (1) — 2,487 — 2,487 $ 8,133 $ 2,487 $ — $ 10,620 Liabilities: Foreign currency contracts - not designated as hedges (2) $ — $ 2,309 $ — $ 2,309 (1) Included within Other Current Assets in the Consolidated and Combined Condensed Balance Sheet. (2) Included within Accrued Liabilities in the Consolidated and Combined Condensed Balance Sheet. The Company measures the fair value of foreign currency contracts, cross currency swap agreements and interest rate swap agreements using Level Two inputs based on observable spot and forward rates in active markets. Additionally, the fair value of derivatives designated in hedging relationships includes a credit valuation adjustment to appropriately incorporate nonperformance risk for the Company and the respective counterparty. For the three months ended September 30, 2022, the impact of the credit valuation adjustment on the Company’s derivatives is immaterial. Refer to Note 10, “Derivatives” for additional information. There were no transfers in or out of Level One, Two or Three during the nine months ended September 30, 2022.

Equity

Equity	9 Months Ended
	Sep. 30, 2022
Equity [Abstract]
Equity	Equity Accumulated Other Comprehensive Loss The following tables present the changes in the balances of each component of Accumulated other comprehensive loss including reclassifications out of Accumulated other comprehensive loss for the nine months ended September 30, 2022 and October 1, 2021. All amounts are net of tax and noncontrolling interest, if any. Accumulated Other Comprehensive Loss Components Net Unrecognized Pension And Other Post-Retirement Benefit Cost Foreign Currency Translation Adjustment Gains on Net Investment Hedges Gains on Cash Flow Hedges Total (In thousands) Balance at December 31, 2021 $ (21,196) $ (439,692) $ — $ — $ (460,888) Other comprehensive income (loss) before reclassifications: Foreign currency translation adjustment 490 (45,171) — — (44,681) Other comprehensive income (loss) before reclassifications 490 (45,171) — — (44,681) Amounts reclassified from Accumulated other comprehensive loss (1) 786 — — — 786 Amounts contributed by Former Parent (2) (50,504) (8,759) — — (59,263) Net current period Other comprehensive loss (49,228) (53,930) — — (103,158) Balance at April 1, 2022 $ (70,424) $ (493,622) $ — $ — $ (564,046) Other comprehensive income (loss) before reclassifications: Foreign currency translation adjustment (1,354) (98,789) — — (100,143) Other comprehensive income (loss) before reclassifications (1,354) (98,789) — — (100,143) Amounts reclassified from Accumulated other comprehensive loss (1) 770 — — — 770 Net current period Other comprehensive loss (584) (98,789) — — (99,373) Balance at July 1, 2022 $ (71,008) $ (592,411) $ — $ — $ (663,419) Other comprehensive income (loss) before reclassifications: Foreign currency translation adjustment 3,685 (108,755) 7,421 — (97,649) Unrealized gain on cash flow hedges — — — 9,150 9,150 Other comprehensive income (loss) before reclassifications 3,685 (108,755) 7,421 9,150 (88,499) Amounts reclassified from Accumulated other comprehensive loss (1)(3) 766 — — 810 1,576 Net current period Other comprehensive income (loss) 4,451 (108,755) 7,421 9,960 (86,923) Balance at September 30, 2022 $ (66,557) $ (701,166) $ 7,421 $ 9,960 $ (750,342) (1) The amounts on this line within the Net Unrecognized Pension And Other Post-Retirement Benefit Cost column are included in the computation of net periodic benefit cost. See Note 8, “Benefit Plans” for additional details. (2) Includes unrecognized pension and other post-retirement costs and accumulated currency translation adjustments of certain entities which were part of the Corporate segment of the Former Parent and were transferred to ESAB Corporation in anticipation of the Separation. See Note 1, “Organization and Basis of Presentation” for more information on the entities contributed from the Former Parent. (3) During the three months ended September 30, 2022, the amount on this line within the Gains on Cash Flow Hedge column, is a component of Interest expense (income) and other, net. See Note 10, “Derivatives”, for additional details. Accumulated Other Comprehensive Loss Components Net Unrecognized Pension And Other Post-Retirement Benefit Cost Foreign Currency Translation Adjustment Total (In thousands) Balance at December 31, 2020 $ (29,378) $ (366,825) $ (396,203) Other comprehensive income (loss) before reclassifications: Foreign currency translation adjustment 712 (30,438) (29,726) Other comprehensive income (loss) before reclassifications 712 (30,438) (29,726) Amounts reclassified from Accumulated other comprehensive loss (1) 220 — 220 Net current period Other comprehensive income (loss) 932 (30,438) (29,506) Balance at April 2, 2021 $ (28,446) $ (397,263) $ (425,709) Other comprehensive income (loss) before reclassifications: Foreign currency translation adjustment (126) 4,182 4,056 Other comprehensive income (loss) before reclassifications (126) 4,182 4,056 Amounts reclassified from Accumulated other comprehensive loss (1) 208 — 208 Net current period Other comprehensive income (loss) 82 4,182 4,264 Balance at July 2, 2021 $ (28,364) $ (393,081) $ (421,445) Other comprehensive income (loss) before reclassifications: Foreign currency translation adjustment 508 (36,639) (36,131) Other comprehensive income (loss) before reclassifications 508 (36,639) (36,131) Amounts reclassified from Accumulated other comprehensive loss (1) 270 — 270 Net current period Other comprehensive income (loss) 778 (36,639) (35,861) Balance at October 1, 2021 (27,586) (429,720) (457,306) (1) Included in the computation of net periodic benefit cost. See Note 8, “Benefit Plans” for additional details. Share-Based Payments Prior to the Separation, certain employees of the Company participated in the Former Parent’s stock-based compensation plans. In connection with the Separation, the Company adopted the 2022 Omnibus Incentive Plan (the “Stock Plan”) and outstanding equity awards of the Former Parent held by ESAB employees were converted into or replaced with awards of ESAB common stock under the Stock Plan based on the “concentration method,” and as adjusted to maintain the economic value before and after the Distribution Date using the relative fair market value of the Former Parent and ESAB common stock. For each equity award holder, the intent was to maintain the economic value of the equity awards immediately before and after the Distribution. The terms of the equity awards, such as the award period, exercisability and vesting schedule, as applicable, generally continued unchanged. Other than converted or replacement equity awards of ESAB issued in replacement of the Former Parent’s restricted stock units (“RSUs”) and stock options, the terms of the converted or replacement equity awards of ESAB (e.g., vesting date and expiration date) continued unchanged. Incremental stock-based compensation expense recorded as a result of this equity award conversion was $2.6 million and is being recognized over the remaining service period. Stock-based compensation expenses incurred by the Company were $4.2 million and $9.5 million during the three and nine months ended September 30, 2022, respectively, and $1.7 million and $5.0 million

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 30, 2022
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Asbestos Contingencies Certain entities that became subsidiaries of ESAB Corporation in connection with the Separation are the legal obligor for certain asbestos obligations including long-term asbestos insurance assets, long-term asbestos insurance receivables, accrued asbestos liabilities, long-term asbestos liabilities, asbestos indemnity expenses, asbestos-related defense costs and asbestos insurance recoveries related to the asbestos obligations from the Former Parent’s other legacy industrial businesses. As a result, the Company holds certain asbestos-related contingencies and insurance coverages. These subsidiaries are each one of many defendants in a large number of lawsuits that claim personal injury as a result of exposure to asbestos from products manufactured or used with components that are alleged to have contained asbestos. Such components were acquired from third-party suppliers, and were not manufactured by any of the Company’s, or Former Parent’s, subsidiaries nor were the subsidiaries, producers or direct suppliers of asbestos. The manufactured products that are alleged to have contained or used asbestos generally were provided to meet the specifications of the subsidiaries’ customers, including the U.S. Navy. The subsidiaries settle asbestos claims for amounts the Company considers reasonable given the facts and circumstances of each claim. The annual average settlement payment per asbestos claimant has fluctuated during the past several years while the number of cases has steadily declined. The Company expects such fluctuations to continue in the future based upon, among other things, the number and type of claims settled in a particular period and the jurisdictions in which such claims arise. To date, the majority of settled claims have been dismissed for no payment. The Company has classified asbestos-related activity in Loss from discontinued operations in the Consolidated and Combined Condensed Statements of Operations. This is consistent with the Former Parent’s classification on the basis that, pursuant to the purchase agreement from the Former Parent’s Fluid Handling business divestiture, the Former Parent retained its asbestos-related contingencies and insurance coverages. However, as the Former Parent did not retain an interest in the ongoing operations of the business subject to the contingencies, asbestos-related activity was classified as part of Loss from discontinued operations, net of taxes in the Condensed Consolidated Statements of Operations of the Former Parent. The Company has projected each subsidiary’s future asbestos-related liability costs with regard to pending and future unasserted claims based upon the Nicholson methodology. The Nicholson methodology is a standard approach used by experts and has been accepted by numerous courts. Consistent with the Former Parent, it is ESAB’s policy to record a liability for asbestos-related liability costs for the longest period of time that ESAB management can reasonably estimate. The Company believes that it can reasonably estimate the asbestos-related liability for pending and future claims that will be resolved in the next 15 years and has recorded that liability as its best estimate. While it is reasonably possible that the subsidiaries will incur costs after this period, the Company does not believe the reasonably possible loss or a range of reasonably possible losses is estimable at the current time. Accordingly, no accrual has been recorded for any costs which may be paid after the next 15 years. Defense costs associated with asbestos-related liabilities as well as costs incurred related to efforts to recover insurance from the subsidiaries’ insurers are expensed as incurred. Each subsidiary has separate insurance coverage acquired prior to Company ownership. The Company estimates the insurance assets for each subsidiary based upon the applicable policy language, expected recoveries and allocation methodologies, and law pertaining to the affected subsidiary’s insurance policies. Asbestos-related claims activity since December 31, 2021 is as follows: Nine Months Ended September 30, 2022 (Number of claims) Claims unresolved, beginning of period 14,559 Claims filed (1) 3,285 Claims resolved (2) (3,677) Claims unresolved, end of period 14,167 (1) Claims filed include all asbestos claims for which notification has been received or a file has been opened. (2) Claims resolved include all asbestos claims that have been settled, dismissed or that are in the process of being settled or dismissed based upon agreements or understandings in place with counsel for the claimants. The Company’s Consolidated Balance Sheet included the following amounts related to asbestos-related litigation: September 30, 2022 (In thousands) Long-term asbestos insurance asset (1) $ 216,760 Long-term asbestos insurance receivable (1) 23,291 Accrued asbestos liability (2) 34,841 Long-term asbestos liability (3) 236,757 (1) Included in Other assets in the Consolidated Balance Sheet. (2) Represents current accruals for probable and reasonably estimable asbestos-related liability costs that the Company believes the subsidiaries will pay, and unpaid legal costs related to defending themselves against asbestos-related liability claims and legal action against the Company’s insurers, which is included in Accrued liabilities in the Consolidated Balance Sheet. (3) Included in Other liabilities in the Consolidated Balance Sheet. Management’s analyses are based on currently known facts and assumptions. Projecting future events, such as new claims to be filed each year, the average cost of resolving each claim, coverage issues among layers of insurers, the method in which losses will be allocated to the various insurance policies, interpretation of the effect on coverage of various policy terms and limits and their interrelationships, the continuing solvency of various insurance companies, the amount of remaining insurance available, as well as the numerous uncertainties inherent in asbestos litigation could cause the actual liabilities and insurance recoveries to be higher or lower than those projected or recorded which could materially affect the Company’s financial condition, results of operations or cash flow. General Litigation The Company is involved in various pending legal proceedings arising out of the ordinary course of the Company’s business. None of these legal proceedings is expected to have a material adverse effect on the financial condition, results of operations or cash flow of the Company. With respect to these proceedings, and the litigation and claims described in the preceding paragraphs, management of the Company believes that it will either prevail, has adequate insurance coverage or has established appropriate accruals to cover potential liabilities. Legal costs related to proceedings or claims are recorded when incurred. Other costs that management estimates may be paid related to the claims are accrued when the liability is considered probable and the amount can be reasonably estimated. There can be no assurance, however, as to the ultimate outcome of any of these matters, and if all or substantially all of these legal proceedings were to be determined adverse to the Company, there could be a material adverse effect on the financial condition, results of operations or cash flow of the Company.

Segment Information

Segment Information	9 Months Ended
	Sep. 30, 2022
Segment Reporting [Abstract]
Segment Information	Segment Information ESAB is a world leader in fabrication and gas control technology, providing our partners with advanced equipment, consumables, gas control equipment, robotics, and digital solutions, which enable the everyday and extraordinary work that shapes our world. The Company’s products are utilized to solve challenges in a wide range of industries, including cutting, joining and automated welding. The Company’s management evaluates the operating results of each of its reportable segments based upon Net sales and segment Adjusted EBITA, which represents operating income excluding the impact of Restructuring and other related charges, acquisition-related intangible asset amortization, an d separation costs. The Com pany’s segment results were as follows: Three Months Ended Nine Months Ended September 30, 2022 October 1, 2021 September 30, 2022 October 1, 2021 (In thousands) Net sales: Americas $ 281,361 $ 260,005 $ 844,741 $ 739,793 EMEA & APAC 338,904 345,963 1,084,612 1,064,107 $ 620,265 $ 605,968 $ 1,929,353 $ 1,803,900 Adjusted EBITA (1) : Americas $ 43,200 $ 38,627 $ 128,860 $ 102,665 EMEA & APAC 53,520 54,093 169,769 169,785 $ 96,720 $ 92,720 $ 298,629 $ 272,450 (1) The following is a reconciliation of Operating income to Adjusted EBITA: Three Months Ended Nine Months Ended September 30, 2022 October 1, 2021 September 30, 2022 October 1, 2021 (In thousands) Operating income $ 80,994 $ 78,664 $ 250,486 $ 233,165 Restructuring and other related charges 6,676 4,227 16,629 10,791 Separation costs (1) 1,834 713 8,923 819 Amortization of acquired intangibles (2) 7,216 8,934 22,523 27,130 Other (3) — 182 68 545 Adjusted EBITA $ 96,720 $ 92,720 $ 298,629 $ 272,450 (1) Includes non-recurring professional fees incurred in the planning and execution of the Separation from Enovis within the Selling, general and administrative expense line within the Consolidated and Combined Condensed Statements of Operations. (2) Included within the Selling, general and administrative expense line withing the Consolidated and Combined Condensed Statements of Operations. (3) Relates to certain items included within the Interest expense (income) and other, net line within the Consolidated and Combined Condensed Statements of Operations.

Related Party Transactions

Related Party Transactions	9 Months Ended
	Sep. 30, 2022
Related Party Transactions [Abstract]
Related Party Transactions	Related Party Transactions Related Party Agreements On April 4, 2022, in connection with the Separation, the Company entered into several agreements with Enovis that govern the Separation and provide a framework for the relationship between the parties going forward including a separation and distribution agreement, a transition services agreement, tax matters agreement, employee matters agreements, a stockholder’s and registration rights agreement, an intellectual property matters agreement and an Enovis Growth Excellence Business System (“EGX”) license agreement. The Separation and Distribution Agreement The Company entered into a separation and distribution agreement (the “Separation Agreement”) with Enovis immediately prior to the distribution of the Company’s common stock to Enovis stockholders. The Separation Agreement sets forth the Company’s agreements with Enovis regarding the principal actions to be taken in connection with the Separation. The Separation Agreement contains provisions that, among other things, relate to (i) assets, liabilities and contracts to be transferred, assumed and assigned to each of ESAB and Enovis as part of the Separation, (ii) cash distribution made to Enovis in partial consideration of the transfer of ESAB Assets to the Company in connection with the Separation, and (iii) cross-indemnities principally designed to place financial responsibility for the obligations and liabilities of ESAB’s business with ESAB and financial responsibility for the obligations and liabilities of Enovis’s remaining business with Enovis. Transition Services Agreement The transition services agreement ("TSA") sets forth the terms and conditions pursuant to which the Company and its subsidiaries and Enovis and its subsidiaries will provide to each other various services. The services to be provided include human resources, payroll, certain information technology services, treasury services and financial reporting services. The charges for the transition services generally are expected to allow the providing company to fully recover all internal and external costs and expenses it actually incurs in connection with providing the service (including a reasonable allocation of overhead) provided in the manner and at a level substantially consistent with that provided by the respective providing company immediately preceding the Distribution Date. Tax Matters Agreement The tax matters agreement governs the Company’s and Enovis’s respective rights, responsibilities and obligations after the Separation with respect to tax liabilities and benefits, tax attributes, the preparation and filing of tax returns, the control of audits and other tax proceedings and certain other matters regarding taxes. Employee Matters Agreement The employee matters agreement sets forth, among other things, the allocation of assets, liabilities and responsibilities relating to employee compensation and benefit plans and programs and other related matters in connection with the Separation, including the treatment of outstanding equity and other incentive awards and certain retirement and welfare benefit obligations. Stockholders and Registration Rights Agreement The stockholders and registration rights agreement sets forth the right of the stockholders when requiring the Company to facilitate the resale of shares. Intellectual Property Matters Agreement The intellectual property matters agreement sets forth the terms and conditions pursuant to which Enovis and the Company have mutually granted certain personal, generally irrevocable, non-exclusive, worldwide, and royalty-free rights to use certain intellectual property. The Company and Enovis are able to sublicense their rights in connection with activities relating to their businesses, but not for independent use by third parties. EGX License Agreement The EGX License Agreement sets forth the terms and conditions pursuant to which Enovis has granted a royalty-free, non-exclusive, worldwide, and nontransferable license to the Company to use EGX, solely in support of its businesses. The Company will be able to sublicense such license solely to direct and indirect wholly-owned subsidiaries. In addition, each of Enovis and the Company each license to each other, improvements made by such party to EGX during the first two years of the term period of the EGX license agreement. Allocated Expenses The Company had historically operated as part of the Former Parent and not as a stand-alone company. Accordingly, the Former Parent allocated certain shared costs to the Company that are reflected as expenses in these financial statements. These amounts included, but were not limited to, items such as general management and executive oversight, compliance, human resources, procurement, and legal functions and financial management, including public company reporting, consolidated tax filings and tax planning. Management considered the allocation methodologies used by the Former Parent to be reasonable and to appropriately reflect the related expenses attributable to the Company for purposes of the carve-out financial statements; however, the expenses reflected in these financial statements may not be indicative of the actual expenses that would have been incurred during the periods presented if the Company had operated as a separate stand-alone entity. In addition, the expenses reflected in the financial statements may not be indicative of expenses the Company will incur in the future. Allocation methodologies utilized include the Company’s relative share of total Former Parent revenues and headcount. All of the Company’s transactions with the Former Parent were considered to be financing transactions, which are presented as Transfers from (to) Former Parent, net in the accompanying Consolidated and Combined Condensed Statements of Cash Flows. The Company had no stock-based compensation plans prior to the Separation; however, certain employees of the Company participated in the Former Parent’s stock-based compensation plans, which provided for the grants of stock options an d RSUs among other types of awards. The expense associated with the Company's employees who participated in the plans of the Former Parent was allocated to the Company in the accompanying Consolidated and Combined Condensed Statements of Operations through the date of Separation. The Company’s allocated expenses from the Former Parent were $6.0 million for the three months ended April 1, 2022 and $5.0 million and $19.6 million for the three and nine months ended October 1, 2021, respectively. Following the Separation, the company independently incurs expenses as a stand-alone company and corporate expenses from Enovis were no longer allocated to the Company; therefore, no related amounts were reflected on the Company’s financial statements for the six months ended September 30, 2022. Refer to Note 8, “Benefit Plans,” for allocations of net periodic benefit associated with a Former Parent sponsored benefit plan for the three months ended April 1, 2022 and nine months ended October 1, 2021.

Subsequent Events

Subsequent Events	9 Months Ended
	Sep. 30, 2022
Subsequent Events [Abstract]
Subsequent Events	Subsequent Events The dividend of $3.0 million included in Accrued liabilities in the Consolidated Balance Sheet at September 30, 2022 was paid on October 14, 2022, to stockholders of record as of September 30, 2022.

Organization and Basis of Pre_2

Organization and Basis of Presentation (Policies)	9 Months Ended
	Sep. 30, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Fiscal Period	The Company’s fiscal year ends December 31. The Company’s first three quarters end on the last business day of the 13 th
Separation from Enovis	On January 31, 2022, all remaining legal entities which were part of the Fabrication Technology segment of the Former Parent along with certain entities that were part of the Corporate segment of the Former Parent became subsidiaries of ESAB through a legal entity restructuring. This reorganization resulted in the inclusion of the following items in ESAB for the three months ending April 1, 2022: • Certain operating entities that form the historical Fabrication Technology business. • Certain entities which historically have been a part of the Former Parent’s Corporate reportable segment, including components of the Fo rm er Parent’s legal, human resources, tax and other finance functions that served the entirety of the Former Parent. • Certain entities relating to the Former Parent’s previously divested Fluid Handling businesses which hold certain asbestos assets, liabilities, costs and insurance recoveries related to the asbestos obligations of these legacy industrial businesses. Refer to Note 2, “Discontinued Operations” and Note 13, “Commitments and Contingencies” for additional information. • Certain pension plan assets and liabilities due to transfer of sponsorship of two U.S. defined benefit plans and a U.S. other post-retirement benefit plan from the Former Parent to ESAB as of March 21, 2022. Refer to Note 8, “Benefit Plans” for additional information on the benefit plans transferred to ESAB. The above items, with the exception of the operating entities that form the Fabrication Technology business, were not previously included in the Company’s 2019 to 2021 historical carve-out financial statements. These historical carve-out financial statements in ESAB’s Registration Statement on Form 10-12B/A filed with the SEC on March 17, 2022 (the “Form 10”), were presented on a combined basis. Such basis of accountin g differences before and after the legal entity contributions may impact the comparability between periods in these Consolidated and Combined Condensed Financial Statements. ESAB Corporation, which was incorporated on May 19, 2021, became the new ultimate parent company for the Former Parent’s Fabrication Technology business during the three months ended April 1, 2022. On April 4, 2022 (the “Distribution Date”), Colfax Corporation (“Colfax” or the “Former Parent”) completed the spin-off of Colfax’s Fabrication Technology business and certain other corporate entities as described above, through a tax-free, pro rata distribution (the “Distribution”) of 90% of the outstanding common stock of ESAB to Colfax stockholders (the “Separation”). To effect the Separation, each Colfax stockholder of record as of close of business on March 23, 2022 received one share of ESAB common stock for every three shares of Colfax common stock held on the record date. Upon completion of the Distribution, Colfax changed its name to Enovis Corporation and continued to hold 10% of the outstanding common stock of ESAB. Enovis is expected to divest the 10% retained shares in ESAB within 12 months after the Distribution Date. In connection with the Separation, on April 4, 2022, ESAB and Enovis entered into a separation and distribution agreement as well as various other related agreements (collectively the “Agreements”) that govern the Separation and the relationships between the parties going forward, including a transition services agreement, an employee matters agreement, a tax matters agreement, an intellectual property matters agreement, and license agreement for the ESAB Business Excellence System (“EBX”). In conjunction with the Separation on April 4, 2022, the Company entered into a credit agreement (the “Credit Agreement”). The Company drew down $1.2 billion under the Credit Agreement and used these proceeds to make payments to Enovis of $1.2 billion, which was used as part of the consideration for the contribution of certain assets and liabilities to the Company by Enovis in connection with the Separation. The Company entered into interest rate swap agreements and cross-currency swap agreements to manage exposures to currency exchange rates and interest rates arising from these credit facilities; refer to Note 9 “Debt” and Note 10 “Derivatives” for additional information.
Basis of Presentation	The accompanying Consolidated and Combined Condensed Financial Statements present the Company’s historical financial position, results of operations, changes in equity and cash flows in accordance with generally accepted accounting principles in the United States of America (“GAAP”). The combined condensed financial statements for periods prior to the Separation were derived from Enovis’s consolidated financial statements and accounting records and prepared in accordance with GAAP for the preparation of carved-out combined financial statements. Through the date of the Separation, all revenues and costs as well as assets and liabilities directly associated with ESAB have been included in the combined financial statements. Prior to the Separation, the combined condensed financial statements also included allocations of certain general, administrative, sales and marketing expenses from Enovis’s corporate office and from other Enovis businesses to the Company and allocations of related assets, liabilities, and the Former Parent’s investment, as applicable. The allocations were determined on a reasonable basis, however, the amounts are not necessarily representative of the amounts that would have been reflected in the financial statements had the Company been an entity that operated independently of Enovis during the applicable periods. Re lated party a llocations prior to the Separation, including the method for such allocation, are discussed further in Note 15, “Related Party Transactions.” Following the Separation, the consolidated financial statements include ESAB and its wholly-owned subsidiaries and no longer include any allocations of expenses from Enovis. Accordingly: • The Consolidated Balance Sheet as of September 30, 2022, consists of the consolidated balances of ESAB, while the Combined Condensed Balance Sheet as of December 31, 2021, consists of the combined balances of the former Fabrication Technology business of Enovis. • The Consolidated and Combined Condensed Statement of Operations and Statement of Comprehensive Income for the nine months ended September 30, 2022 consist of the consolidated results of ESAB for the six months ended September 30, 2022 and the combined results of the former Fabrication Technology business of Enovis and the certain entities discussed in the “Separation from Enovis” section above for the three months ended April 1, 2022. The Combined Condensed Statement of Operations and Statement of Comprehensive Income for the three and nine months ended October 1, 2021 consist of the combined results of the former Fabrication Technology business of Enovis. • The Consolidated and Combined Condensed Statement of Changes in Equity for the nine months ended September 30, 2022 consists of the consolidated activities of ESAB for the six months ended September 30, 2022 and the combined activity of the former Fabrication Technology business of Enovis and the certain entities discussed in the “Separation from Enovis” section above for the three months ended April 1, 2022. The Combined Condensed Statements of Changes in Equity for the three and nine months ended October 1, 2021 consist of the combined activity of the former Fabrication Technology business of Enovis. • The Consolidated and Combined Condensed Statement of Cash Flows for the nine months ended September 30, 2022 consists of the consolidated activities of ESAB for the six months ended September 30, 2022 and the combined activity of ESAB and the former Fabrication Technology business of Enovis and the certain entities discussed in the “Separation from Enovis” section above for the three months ended April 1, 2022. The Combined Condensed Statement of Cash Flows for the three and nine months ended October 1, 2021 consist of the combined activity of the former Fabrication Technology business of Enovis. The Consolidated and Combined Condensed Financial Statements of ESAB for the three and nine months ended October 1, 2021 and the three months ended April 1, 2022 may not be indicative of the Company's results had it been a separate stand-alone entity throughout the periods presented, nor are the results stated herein indicative of what the Company's financial position, results of operations and cash flows may be in the future. Prior to the Separation, the Company was dependent on the Former Parent for all of its working capital and financing requirements under Enovis’s centralized approach to cash management and financing of its operations. With the exception of cash, cash equivalents and borrowings clearly associated with ESAB and related to the Separation, financing transactions relating to the Company during the period prior to the Separation were accounted for through the Former Parent’s investment account of the Company. Accordingly, none of Enovis’s cash, cash equivalents or debt at the corporate level has been assigned to the Company in these financial statements. Former Parent’s Investment, which included retained earnings, represented Enovis’s interest in the recorded net assets of the Company. All significant transactions between the Company and the Former Parent prior to the Separation have been included in the accompanying Financial Statements. Transactions with the Former Parent are reflected in the accompanying Consolidated and Combined Condensed Statements of Equity as “Transfers from Former Parent, net” and in the accompanying Consolidated and Combined Condensed Balance Sheets within “Former Parent’s investment”. The Consolidated and Combined Condensed Financial Statements reflect, in the opinion of management, all adjustments, which consist solely of normal recurring adjustments, necessary to present fairly the Company’s financial position and results of operations as of and for the periods indicated. Intercompany transactions and accounts are eliminated in consolidation. In addition to the factors discussed elsewhere in this Form 10-Q, the results of operations for the three and nine months ended September 30, 2022, are not necessarily indicative of the results of operations that may be achieved for the full year. Quarterly results are affected by seasonal variations in the Company’s businesses, and European operations typically experience a slowdown during the July, August and December holiday seasons. Since 2020, these historical seasonality trends have been impacted by the worldwide spread of a novel coronavirus disease (“COVID-19”). These Consolidated and Combined Condensed Financial Statements included in this quarterly report have been prepared by the Company in accordance with the rules and regulations of the Securities and Exchange Commission (“SEC”) in conformity with GAAP, for the preparation of the Consolidated and Combined Condensed Financial Statements and are unaudited. Certain financial information that is normally included in annual financial statements prepared in accordance with GAAP, but that is not required for interim reporting purposes, has been omitted. The accompanying interim Consolidated and Combined Condensed Financial Statements and the related notes should be read in conjunction with the Company’s Combined Financial Statements and related notes included in the Company’s Form 10.
Use of Estimates	The Company makes certain estimates and assumptions in preparing its Consolidated and Combined Condensed Financial Statements in accordance with GAAP. These estimates and assumptions affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities as of the date of the Consolidated and Combined Condensed Financial Statements and the reported amounts of revenues and expenses for the periods presented. Actual results may differ from those estimates.

Revenue (Tables)

Revenue (Tables)	9 Months Ended
	Sep. 30, 2022
Revenue from Contract with Customer [Abstract]
Schedule of Revenue by Major Customers by Reporting Segments	The Company disaggregates its revenue into the following product groups: Three Months Ended Nine Months Ended September 30, 2022 October 1, 2021 September 30, 2022 October 1, 2021 (In thousands) Equipment $ 168,633 $ 192,365 $ 547,555 $ 564,971 Consumables 451,632 413,603 1,381,798 1,238,929 Total $ 620,265 $ 605,968 $ 1,929,353 $ 1,803,900
Schedule of Allowance for Credit Losses	A summary of the activity in the Company’s allowance for credit losses included within Trade receivables in the Consolidated and Combined Condensed Balance Sheets is as follows: Nine Months Ended September 30, 2022 Balance at Charged to Expense, net Write-Offs and Deductions Foreign Balance at (In thousands) Allowance for credit losses $ 23,912 $ 4,756 $ (4,633) $ (471) $ 23,564

Earnings per Share from Conti_2

Earnings per Share from Continuing Operations (Tables)	9 Months Ended
	Sep. 30, 2022
Earnings Per Share [Abstract]
Schedule of Earnings Per Share from Continuing Operations	The Company allocates earnings to participating securities and computed earnings per share using the two-class method as follows: Three Months Ended Nine Months Ended September 30, 2022 October 1, 2021 September 30, 2022 October 1, 2021 (In thousands, except share and per share data) Computation of earnings per share from continuing operations – basic: Income from continuing operations attributable to ESAB Corporation (1) $ 53,331 $ 60,614 $ 167,938 $ 195,679 Less: distributed and undistributed earnings allocated to nonvested shares (407) — (1,152) — Income from continuing operations attributable to common stockholders $ 52,924 $ 60,614 $ 166,786 $ 195,679 Weighted-average shares of Common stock outstanding – basic 60,063,553 60,034,311 60,045,306 60,034,311 Income per share from continuing operations – basic $ 0.88 $ 1.01 $ 2.78 $ 3.26 Computation of earnings per share from continuing operations – diluted: Income from continuing operations attributable to common stockholders $ 52,924 $ 60,614 $ 166,786 $ 195,679 Weighted-average shares of Common stock outstanding – diluted 60,063,553 60,034,311 60,045,306 60,034,311 Net effect of potentially dilutive securities 99,668 — 82,378 — Weighted-average shares of Common stock outstanding – dilution 60,163,221 60,034,311 60,127,684 60,034,311 Net income per share from continuing operations – diluted $ 0.88 $ 1.01 $ 2.77 $ 3.26 (1) Net income from continuing operations attributable to ESAB Corporation for the respective periods is calculated using Net income from continuing operations, less Income attributable to noncontrolling interest, net of taxes, of $1.0 million and $2.7 million for the three and nine months ended September 30, 2022, respectively, and $0.8 million and $2.4 million for the three and nine months ended October 1, 2021, respectively.

Inventories, Net (Tables)

Inventories, Net (Tables)	9 Months Ended
	Sep. 30, 2022
Inventory Disclosure [Abstract]
Schedule of Inventory, Net	Inventories, net consisted of the following: September 30, 2022 December 31, 2021 (In thousands) Raw materials $ 152,316 $ 148,376 Work in process 45,099 39,595 Finished goods 286,132 268,831 483,547 456,802 LIFO reserve (204) 1,129 Less: allowance for excess, slow-moving and obsolete inventory (36,812) (37,869) $ 446,531 $ 420,062

Accrued and Other Liabilities (

Accrued and Other Liabilities (Tables)	9 Months Ended
	Sep. 30, 2022
Accrued Liabilities [Abstract]
Schedule of Accrued and Other Liabilities	Accrued and Other liabilities in the Consolidated and Combined Condensed Balance Sheets consisted of the following: Current Noncurrent Current Noncurrent September 30, 2022 December 31, 2021 (In thousands) Accrued taxes and deferred tax liabilities $ 57,813 $ 169,839 $ 58,920 $ 203,760 Compensation and related benefits 70,203 62,299 74,587 62,215 Asbestos liability 34,841 236,757 — — Contract liability 22,475 — 22,265 — Lease liability 20,323 72,060 23,110 88,777 Warranty liability 13,721 — 14,954 — Third-party commissions 14,964 — 16,130 — Restructuring liability 6,747 100 7,834 275 Other 49,316 8,326 33,309 7,918 $ 290,403 $ 549,381 $ 251,109 $ 362,945
Schedule of Product Warranty Liability	A summary of the activity in the Company’s warranty liability included in Accrued liabilities in the Company’s Consolidated and Combined Condensed Balance Sheets is as follows: Nine Months Ended September 30, 2022 October 1, 2021 (In thousands) Warranty liability, beginning of period $ 14,954 $ 14,022 Accrued warranty expense 4,367 5,661 Changes in estimates related to pre-existing warranties 2,190 1,401 Cost of warranty service work performed (6,815) (5,626) Foreign exchange translation effect (975) (256) Warranty liability, end of period $ 13,721 $ 15,202
Schedule of Restructuring Reserve by Type of Cost	A summary of the activity in the Company’s restructuring liability included in Accrued liabilities and Other liabilities in the Consolidated and Combined Condensed Balance Sheets is as follows: Nine Months Ended September 30, 2022 Balance at Beginning of Period Charges Payments Foreign Currency Translation Balance at End of Period (In thousands) Restructuring and other related charges: Americas Termination benefits (1) $ 2,044 $ 1,691 $ (2,708) $ (7) $ 1,020 Facility closure costs and other (2) 50 10,022 (10,013) — 59 Subtotal 2,094 11,713 (12,721) (7) 1,079 Non-cash charges (2) (37) Segment Total 11,676 EMEA & APAC Termination benefits (1) 5,774 2,622 (2,879) (174) 5,343 Facility closure costs and other (2) 241 2,331 (2,131) (16) 425 Subtotal 6,015 4,953 (5,010) (190) 5,768 Non-cash charges (2) — Segment Total 4,953 Total $ 8,109 16,666 $ (17,731) $ (197) $ 6,847 Non-cash charges (2) (37) Total Provision $ 16,629 (1) Includes severance and other termination benefits, including outplacement services. (2) Includes the cost of relocating associates, relocating equipment, lease termination expense and other costs in connection with the closure and optimization of facilities and product lines.

Debt (Tables)

Debt (Tables)	9 Months Ended
	Sep. 30, 2022
Debt Disclosure [Abstract]
Schedule of Long-Term Debt	Long-term debt consisted of the following: September 30, 2022 (In thousands) Term loans $ 997,415 Revolving credit facilities 135,000 Long-term debt $ 1,132,415

Derivatives (Tables)

Derivatives (Tables)	9 Months Ended
	Sep. 30, 2022
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Cash Flow Hedges Included in Accumulated Other Comprehensive Income (Loss)	The effects of designated cash flow hedges on the Company’s Consolidated and Combined Condensed Statements of Operations consisted of the following: Three Months Ended Derivative type Loss recognized in the Consolidated and Combined Condensed Statements of Operations: September 30, 2022 (In thousands) Interest rate swap agreements Interest expense (income) and other, net $ 1,045
Schedule of Fair Values of Derivative Instruments in the Financial Statements	The table below shows the fair value of the derivatives recognized in the Consolidated Balance Sheet and also the effects of designated hedges on AOCI: September 30, 2022 Designated as hedging instruments: Other Assets Total gain recognized in AOCI, net of tax (In thousands) Cross currency swap agreements $ 9,578 $ 7,421 Interest rate swap agreements 12,855 9,960 Total $ 22,433 $ 17,381
Schedule of Derivative Instruments	The Company recognized the following in its Consolidated and Combined Condensed Financial Statements related to its derivative instruments not designated in a hedging relationship: Three Months Ended Nine Months Ended Foreign currency contracts September 30, 2022 October 1, 2021 September 30, 2022 October 1, 2021 (In thousands) Change in unrealized gains (losses) $ 279 $ (2,374) $ 469 $ (6,108) Realized loss (1) (740) (1,383) (17,235) (1,472)

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	9 Months Ended
	Sep. 30, 2022
Fair Value Disclosures [Abstract]
Schedule of Assets and Liabilities Measured at Fair Value	A summary of the Company’s assets and liabilities that are measured at fair value for each fair value hierarchy level for the periods presented is as follows: September 30, 2022 Level Level Level Total (In thousands) Assets: Cash equivalents $ 6,633 $ — $ — $ 6,633 Foreign currency contracts - not designated as hedges (1) — 2,432 — 2,432 Cross currency swap agreements — 9,578 — 9,578 Interest rate swap agreements — 12,855 — 12,855 Deferred compensation plans — 2,189 — 2,189 $ 6,633 $ 27,054 $ — $ 33,687 Liabilities: Foreign currency contracts - not designated as hedges (2) $ — $ 2,153 $ — $ 2,153 Deferred compensation plans — 2,189 — 2,189 $ — $ 4,342 $ — $ 4,342 (1) Included within Other Current Assets in the Consolidated Balance Sheet. (2) Included within Accrued Liabilities in the Consolidated Balance Sheet. December 31, 2021 Level Level Level Total (In thousands) Assets: Cash equivalents $ 8,133 $ — $ — $ 8,133 Foreign currency contracts - not designated as hedges (1) — 2,487 — 2,487 $ 8,133 $ 2,487 $ — $ 10,620 Liabilities: Foreign currency contracts - not designated as hedges (2) $ — $ 2,309 $ — $ 2,309 (1) Included within Other Current Assets in the Consolidated and Combined Condensed Balance Sheet. (2) Included within Accrued Liabilities in the Consolidated and Combined Condensed Balance Sheet.

Equity (Tables)

Equity (Tables)	9 Months Ended
	Sep. 30, 2022
Equity [Abstract]
Schedule of Accumulated Other Comprehensive Loss	The following tables present the changes in the balances of each component of Accumulated other comprehensive loss including reclassifications out of Accumulated other comprehensive loss for the nine months ended September 30, 2022 and October 1, 2021. All amounts are net of tax and noncontrolling interest, if any. Accumulated Other Comprehensive Loss Components Net Unrecognized Pension And Other Post-Retirement Benefit Cost Foreign Currency Translation Adjustment Gains on Net Investment Hedges Gains on Cash Flow Hedges Total (In thousands) Balance at December 31, 2021 $ (21,196) $ (439,692) $ — $ — $ (460,888) Other comprehensive income (loss) before reclassifications: Foreign currency translation adjustment 490 (45,171) — — (44,681) Other comprehensive income (loss) before reclassifications 490 (45,171) — — (44,681) Amounts reclassified from Accumulated other comprehensive loss (1) 786 — — — 786 Amounts contributed by Former Parent (2) (50,504) (8,759) — — (59,263) Net current period Other comprehensive loss (49,228) (53,930) — — (103,158) Balance at April 1, 2022 $ (70,424) $ (493,622) $ — $ — $ (564,046) Other comprehensive income (loss) before reclassifications: Foreign currency translation adjustment (1,354) (98,789) — — (100,143) Other comprehensive income (loss) before reclassifications (1,354) (98,789) — — (100,143) Amounts reclassified from Accumulated other comprehensive loss (1) 770 — — — 770 Net current period Other comprehensive loss (584) (98,789) — — (99,373) Balance at July 1, 2022 $ (71,008) $ (592,411) $ — $ — $ (663,419) Other comprehensive income (loss) before reclassifications: Foreign currency translation adjustment 3,685 (108,755) 7,421 — (97,649) Unrealized gain on cash flow hedges — — — 9,150 9,150 Other comprehensive income (loss) before reclassifications 3,685 (108,755) 7,421 9,150 (88,499) Amounts reclassified from Accumulated other comprehensive loss (1)(3) 766 — — 810 1,576 Net current period Other comprehensive income (loss) 4,451 (108,755) 7,421 9,960 (86,923) Balance at September 30, 2022 $ (66,557) $ (701,166) $ 7,421 $ 9,960 $ (750,342) (1) The amounts on this line within the Net Unrecognized Pension And Other Post-Retirement Benefit Cost column are included in the computation of net periodic benefit cost. See Note 8, “Benefit Plans” for additional details. (2) Includes unrecognized pension and other post-retirement costs and accumulated currency translation adjustments of certain entities which were part of the Corporate segment of the Former Parent and were transferred to ESAB Corporation in anticipation of the Separation. See Note 1, “Organization and Basis of Presentation” for more information on the entities contributed from the Former Parent. (3) During the three months ended September 30, 2022, the amount on this line within the Gains on Cash Flow Hedge column, is a component of Interest expense (income) and other, net. See Note 10, “Derivatives”, for additional details. Accumulated Other Comprehensive Loss Components Net Unrecognized Pension And Other Post-Retirement Benefit Cost Foreign Currency Translation Adjustment Total (In thousands) Balance at December 31, 2020 $ (29,378) $ (366,825) $ (396,203) Other comprehensive income (loss) before reclassifications: Foreign currency translation adjustment 712 (30,438) (29,726) Other comprehensive income (loss) before reclassifications 712 (30,438) (29,726) Amounts reclassified from Accumulated other comprehensive loss (1) 220 — 220 Net current period Other comprehensive income (loss) 932 (30,438) (29,506) Balance at April 2, 2021 $ (28,446) $ (397,263) $ (425,709) Other comprehensive income (loss) before reclassifications: Foreign currency translation adjustment (126) 4,182 4,056 Other comprehensive income (loss) before reclassifications (126) 4,182 4,056 Amounts reclassified from Accumulated other comprehensive loss (1) 208 — 208 Net current period Other comprehensive income (loss) 82 4,182 4,264 Balance at July 2, 2021 $ (28,364) $ (393,081) $ (421,445) Other comprehensive income (loss) before reclassifications: Foreign currency translation adjustment 508 (36,639) (36,131) Other comprehensive income (loss) before reclassifications 508 (36,639) (36,131) Amounts reclassified from Accumulated other comprehensive loss (1) 270 — 270 Net current period Other comprehensive income (loss) 778 (36,639) (35,861) Balance at October 1, 2021 (27,586) (429,720) (457,306) (1) Included in the computation of net periodic benefit cost. See Note 8, “Benefit Plans” for additional details.

Commitments and Contingencies (

Commitments and Contingencies (Tables)	9 Months Ended
	Sep. 30, 2022
Commitments and Contingencies Disclosure [Abstract]
Schedule of Loss Contingencies by Number of Claims	Asbestos-related claims activity since December 31, 2021 is as follows: Nine Months Ended September 30, 2022 (Number of claims) Claims unresolved, beginning of period 14,559 Claims filed (1) 3,285 Claims resolved (2) (3,677) Claims unresolved, end of period 14,167 (1) Claims filed include all asbestos claims for which notification has been received or a file has been opened. (2) Claims resolved include all asbestos claims that have been settled, dismissed or that are in the process of being settled or dismissed based upon agreements or understandings in place with counsel for the claimants.
Schedule of Asbestos Related Litigation	The Company’s Consolidated Balance Sheet included the following amounts related to asbestos-related litigation: September 30, 2022 (In thousands) Long-term asbestos insurance asset (1) $ 216,760 Long-term asbestos insurance receivable (1) 23,291 Accrued asbestos liability (2) 34,841 Long-term asbestos liability (3) 236,757 (1) Included in Other assets in the Consolidated Balance Sheet. (2) Represents current accruals for probable and reasonably estimable asbestos-related liability costs that the Company believes the subsidiaries will pay, and unpaid legal costs related to defending themselves against asbestos-related liability claims and legal action against the Company’s insurers, which is included in Accrued liabilities in the Consolidated Balance Sheet. (3) Included in Other liabilities in the Consolidated Balance Sheet.

Segment Information (Tables)

Segment Information (Tables)	9 Months Ended
	Sep. 30, 2022
Segment Reporting [Abstract]
Schedule of Segment Reporting Information, by Segment	The Company’s segment results were as follows: Three Months Ended Nine Months Ended September 30, 2022 October 1, 2021 September 30, 2022 October 1, 2021 (In thousands) Net sales: Americas $ 281,361 $ 260,005 $ 844,741 $ 739,793 EMEA & APAC 338,904 345,963 1,084,612 1,064,107 $ 620,265 $ 605,968 $ 1,929,353 $ 1,803,900 Adjusted EBITA (1) : Americas $ 43,200 $ 38,627 $ 128,860 $ 102,665 EMEA & APAC 53,520 54,093 169,769 169,785 $ 96,720 $ 92,720 $ 298,629 $ 272,450 (1) The following is a reconciliation of Operating income to Adjusted EBITA: Three Months Ended Nine Months Ended September 30, 2022 October 1, 2021 September 30, 2022 October 1, 2021 (In thousands) Operating income $ 80,994 $ 78,664 $ 250,486 $ 233,165 Restructuring and other related charges 6,676 4,227 16,629 10,791 Separation costs (1) 1,834 713 8,923 819 Amortization of acquired intangibles (2) 7,216 8,934 22,523 27,130 Other (3) — 182 68 545 Adjusted EBITA $ 96,720 $ 92,720 $ 298,629 $ 272,450 (1) Includes non-recurring professional fees incurred in the planning and execution of the Separation from Enovis within the Selling, general and administrative expense line within the Consolidated and Combined Condensed Statements of Operations. (2) Included within the Selling, general and administrative expense line withing the Consolidated and Combined Condensed Statements of Operations. (3) Relates to certain items included within the Interest expense (income) and other, net line within the Consolidated and Combined Condensed Statements of Operations.

Organization and Basis of Pre_3

Organization and Basis of Presentation (Details) $ / shares in Units, $ in Thousands

3 Months Ended

9 Months Ended

12 Months Ended

Oct. 14, 2022 USD ($)

Sep. 15, 2022 $ / shares

Jul. 01, 2022 USD ($)

May 12, 2022 $ / shares

Apr. 04, 2022 USD ($) shares

Mar. 21, 2022 plan

Sep. 30, 2022 USD ($)

Jul. 01, 2022 $ / shares

Oct. 01, 2021 USD ($)

Sep. 30, 2022 USD ($) segment

Oct. 01, 2021 USD ($)

Dec. 31, 2021 plan

Concentration Risk [Line Items]

Number of reportable segments | segment

2

Quarterly cash dividend declared (in dollars per share) | $ / shares

$ 0.05

$ 0.05

$ 0.05

Payment of dividends

$ 3,000

$ 3,025

$ 0

Net income

$ 52,354

$ 60,614

163,040

195,679

Research and development expense

8,000

$ 9,100

27,100

$ 28,900

Subsequent Event

Concentration Risk [Line Items]

Payment of dividends

$ 3,000

Russia

Concentration Risk [Line Items]

Net income

7,000

14,000

Foreign currency translation adjustment losses

$ 50,000

$ 50,000

Russia | Revenues | Geographic Concentration Risk

Concentration Risk [Line Items]

Concentration risk (as a percent)

7%

6%

Russia | Assets | Geographic Concentration Risk

Concentration Risk [Line Items]

Concentration risk (as a percent)

6%

Russian Federation and Ukraine | International Conflict

Concentration Risk [Line Items]

Increase for allowances on receivables

$ 4,000

Enovis Corporation

Concentration Risk [Line Items]

Cash consideration

$ 1,200,000

ESAB Corporation | Enovis Corporation

Concentration Risk [Line Items]

Ownership (as a percent)

10%

Common Stock

Concentration Risk [Line Items]

Percentage of outstanding stock after spin-off (as a percent)

90%

Common Stock | Enovis Corporation

Concentration Risk [Line Items]

Number of shares recapitalized (in shares) | shares

3

Common Stock | ESAB Corporation | Enovis Corporation

Concentration Risk [Line Items]

Number of shares received (in shares) | shares

1

Defined Benefit Plan, Unfunded Plan

Concentration Risk [Line Items]

Number of unfunded plans | plan

2

2

Discontinued Operations - Narra

Discontinued Operations - Narrative (Details) - USD ($) $ in Millions	3 Months Ended	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2022
Asbestos
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Cash used in operating activities, discontinued operations	$ 5.6	$ 19.3

Revenue - Disaggregation of Rev

Revenue - Disaggregation of Revenue (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Oct. 01, 2021	Sep. 30, 2022	Oct. 01, 2021
Disaggregation of Revenue [Line Items]
Total	$ 620,265	$ 605,968	$ 1,929,353	$ 1,803,900
Equipment
Disaggregation of Revenue [Line Items]
Total	168,633	192,365	547,555	564,971
Consumables
Disaggregation of Revenue [Line Items]
Total	$ 451,632	$ 413,603	$ 1,381,798	$ 1,238,929

Revenue - Narrative (Details)

Revenue - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Oct. 01, 2021	Sep. 30, 2022	Oct. 01, 2021	Dec. 31, 2021	Dec. 31, 2020
Revenue [Abstract]
Contract liability					$ 22.3	$ 21.6
Revenue recognized, contract liability	$ 4.6	$ 3.1	$ 19	$ 19.4
Contract liability, one time advance payments	$ 22.5	$ 19.9	$ 22.5	$ 19.9

Revenue - Allowance for Credit

Revenue - Allowance for Credit Loss Rollforward (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2022 USD ($)
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Balance at Beginning of Period	$ 23,912
Charged to Expense, net	4,756
Write-Offs and Deductions	(4,633)
Foreign Currency Translation	(471)
Balance at End of Period	$ 23,564

Earnings per Share from Conti_3

Earnings per Share from Continuing Operations (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Oct. 01, 2021	Sep. 30, 2022	Oct. 01, 2021
Computation of earnings per share from continuing operations – basic:
Income from continuing operations attributable to ESAB Corporation	$ 53,331	$ 60,614	$ 167,938	$ 195,679
Less: distributed and undistributed earnings allocated to nonvested shares	(407)	0	(1,152)	0
Net Income (Loss) Available to Common Stockholders	$ 52,924	$ 60,614	$ 166,786	$ 195,679
Weighted-average shares of common stock outstanding - basic (in shares)	60,063,553	60,034,311	60,045,306	60,034,311
Income per share from continuing operations – basic (in dollars per share)	$ 0.88	$ 1.01	$ 2.78	$ 3.26
Computation of earnings per share from continuing operations – diluted:
Net effect of potentially dilutive securities (in shares)	99,668	0	82,378	0
Weighted-average shares of common stock outstanding - assuming dilution (in shares)	60,163,221	60,034,311	60,127,684	60,034,311
Income per share from continuing operations – assuming dilution (in dollars per share)	$ 0.88	$ 1.01	$ 2.77	$ 3.26
Net income from continuing operations attributable to noncontrolling interest, net of taxes	$ 1,000	$ 800	$ 2,700	$ 2,400

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Oct. 01, 2021	Sep. 30, 2022	Oct. 01, 2021
Income Tax Disclosure [Abstract]
Operating income	$ 72,129	$ 78,873	$ 234,270	$ 245,121
Income tax expense	$ 17,836	$ 17,441	$ 63,629	$ 47,043
Effective tax rate (as a percent)	24.70%	22.10%	27.20%	19.20%

Inventories, Net (Details)

Inventories, Net (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Inventory Disclosure [Abstract]
Raw materials	$ 152,316	$ 148,376
Work in process	45,099	39,595
Finished goods	286,132	268,831
Inventories, gross	483,547	456,802
LIFO reserve	(204)	1,129
Less: allowance for excess, slow-moving and obsolete inventory	(36,812)	(37,869)
Inventories, net	$ 446,531	$ 420,062
Percentage of inventory valued at LIFO	33%	34%

Accrued and Other Liabilities -

Accrued and Other Liabilities - Current and Noncurrent (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Current
Accrued taxes and deferred tax liabilities	$ 57,813	$ 58,920
Compensation and related benefits	70,203	74,587
Asbestos liability	34,841	0
Contract liability	$ 22,475	22,265
Operating Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration]	Total accrued and other liabilities, Current
Lease liability	$ 20,323	23,110
Warranty liability	13,721	14,954
Third-party commissions	14,964	16,130
Restructuring liability	6,747	7,834
Other	49,316	33,309
Total accrued and other liabilities, Current	290,403	251,109
Noncurrent
Accrued taxes and deferred tax liabilities	169,839	203,760
Compensation and related benefits	62,299	62,215
Asbestos liability	236,757	0
Contract liability	$ 0	0
Operating Lease, Liability, Noncurrent, Statement of Financial Position [Extensible Enumeration]	Total accrued and other liabilities, Noncurrent
Lease liability	$ 72,060	88,777
Warranty liability	0	0
Third-party commissions	0	0
Restructuring liability	100	275
Other	8,326	7,918
Total accrued and other liabilities, Noncurrent	$ 549,381	$ 362,945

Accrued and Other Liabilities_2

Accrued and Other Liabilities - Warranty Liability Rollforward (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2022	Oct. 01, 2021
Movement in Standard Product Warranty Accrual [Roll Forward]
Warranty liability, beginning of period	$ 14,954	$ 14,022
Accrued warranty expense	4,367	5,661
Changes in estimates related to pre-existing warranties	2,190	1,401
Cost of warranty service work performed	(6,815)	(5,626)
Foreign exchange translation effect	(975)	(256)
Warranty liability, end of period	$ 13,721	$ 15,202

Accrued and Other Liabilities_3

Accrued and Other Liabilities - Restructuring Rollforward (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2022 USD ($)
Restructuring Reserve [Roll Forward]
Balance at Beginning of Period	$ 8,109
Charges	16,666
Payments	(17,731)
Foreign Currency Translation	(197)
Balance at End of Period	6,847
Non-cash charges	(37)
Total Provision	16,629
Americas
Restructuring Reserve [Roll Forward]
Balance at Beginning of Period	2,094
Charges	11,713
Payments	(12,721)
Foreign Currency Translation	(7)
Balance at End of Period	1,079
Non-cash charges	(37)
Total Provision	11,676
EMEA & APAC
Restructuring Reserve [Roll Forward]
Balance at Beginning of Period	6,015
Charges	4,953
Payments	(5,010)
Foreign Currency Translation	(190)
Balance at End of Period	5,768
Non-cash charges	0
Total Provision	4,953
Termination benefits | Americas
Restructuring Reserve [Roll Forward]
Balance at Beginning of Period	2,044
Charges	1,691
Payments	(2,708)
Foreign Currency Translation	(7)
Balance at End of Period	1,020
Termination benefits | EMEA & APAC
Restructuring Reserve [Roll Forward]
Balance at Beginning of Period	5,774
Charges	2,622
Payments	(2,879)
Foreign Currency Translation	(174)
Balance at End of Period	5,343
Facility closure costs and other | Americas
Restructuring Reserve [Roll Forward]
Balance at Beginning of Period	50
Charges	10,022
Payments	(10,013)
Foreign Currency Translation	0
Balance at End of Period	59
Facility closure costs and other | EMEA & APAC
Restructuring Reserve [Roll Forward]
Balance at Beginning of Period	241
Charges	2,331
Payments	(2,131)
Foreign Currency Translation	(16)
Balance at End of Period	$ 425

Benefit Plans (Details)

Benefit Plans (Details) $ in Thousands		3 Months Ended		9 Months Ended		12 Months Ended
	Mar. 21, 2022 plan	Sep. 30, 2022 USD ($)	Oct. 01, 2021 USD ($)	Sep. 30, 2022 USD ($)	Oct. 01, 2021 USD ($)	Dec. 31, 2021 USD ($) plan	Apr. 01, 2022 USD ($)
Defined Benefit Plan Disclosure [Line Items]
Net plan obligations		$ 10,600		$ 10,600
Pension settlement gain		3,300	$ 0	3,300	$ 11,208
Pension Plan
Defined Benefit Plan Disclosure [Line Items]
Plan assets						$ 201,200
Projected benefit liabilities						$ 200,600
Pretax net unrecognized pension and other post-retirement benefit cost included in accumulated other comprehensive loss							$ 50,000
Net periodic benefit costs		$ 200	$ 700	600	$ 1,400
Pension Plan | United States
Defined Benefit Plan Disclosure [Line Items]
Employer contributions				800
Pension Plan | Foreign Pension Plan
Defined Benefit Plan Disclosure [Line Items]
Employer contributions				$ 3,500
Defined Benefit Plan, Unfunded Plan
Defined Benefit Plan Disclosure [Line Items]
Number of unfunded plans | plan	2					2
Defined Benefit Plan, Unfunded Plan | Pension Plan
Defined Benefit Plan Disclosure [Line Items]
Projected benefit liabilities						$ 11,700

Debt - Schedule of Long-Term De

Debt - Schedule of Long-Term Debt (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Debt Instrument [Line Items]
Long-term debt	$ 1,132,415	$ 0
Term loans | The Credit Agreement | Line of Credit
Debt Instrument [Line Items]
Long-term debt	997,415
Revolving credit facilities | The Credit Agreement | Line of Credit
Debt Instrument [Line Items]
Long-term debt	$ 135,000

Debt - Narrative (Details)

Debt - Narrative (Details)	Apr. 04, 2022 USD ($)	Jun. 30, 2024	Jun. 30, 2023	Sep. 30, 2022 USD ($)
Debt Instrument [Line Items]
Letters of credit outstanding				$ 29,400,000
Deferred financing fees				$ 3,900,000
Enovis Corporation
Debt Instrument [Line Items]
Cash consideration	$ 1,200,000,000
The Credit Agreement
Debt Instrument [Line Items]
Indebtedness incurred	$ 1,200,000,000
Weighted-average interest rate (as a percent)				3.82%
The Credit Agreement | SOFR | Minimum
Debt Instrument [Line Items]
Basis spread on variable rate (as a percent)	1.125%
The Credit Agreement | SOFR | Maximum
Debt Instrument [Line Items]
Basis spread on variable rate (as a percent)	1.75%
The Credit Agreement | Base Rate | Minimum
Debt Instrument [Line Items]
Basis spread on variable rate (as a percent)	0.125%
The Credit Agreement | Base Rate | Maximum
Debt Instrument [Line Items]
Basis spread on variable rate (as a percent)	0.75%
The Credit Agreement | Line of Credit
Debt Instrument [Line Items]
Maximum total leverage ratio				4
Minimum interest coverage ratio				3
The Credit Agreement | Line of Credit | Scenario, Forecast
Debt Instrument [Line Items]
Maximum total leverage ratio		3.5	3.75
Revolving credit facilities | The Credit Agreement | Line of Credit
Debt Instrument [Line Items]
Aggregate principal amount	$ 750,000,000
Proceeds from revolving facility	200,000,000
Capacity for additional indebtedness				$ 615,000,000
Deferred financing fees				1,300,000
Term loans | The Credit Agreement | Senior Notes
Debt Instrument [Line Items]
Principal amount	$ 600,000,000
Debt term	364 days
Indebtedness incurred	$ 600,000,000
Term loans | The Credit Agreement | Line of Credit
Debt Instrument [Line Items]
Principal amount	400,000,000
Indebtedness incurred	400,000,000
Deferred financing fees				2,600,000
Letter of Credit
Debt Instrument [Line Items]
Aggregate principal amount				107,500,000
Letter of Credit | The Credit Agreement | Line of Credit
Debt Instrument [Line Items]
Aggregate principal amount	300,000,000
Letter of Credit | Uncommitted Credit Line
Debt Instrument [Line Items]
Aggregate principal amount				$ 50,000,000
Bridge Loan | The Credit Agreement | Line of Credit
Debt Instrument [Line Items]
Aggregate principal amount	$ 50,000,000

Derivatives - Narratives (Detai

Derivatives - Narratives (Details) € in Millions, $ in Millions	9 Months Ended
	Sep. 30, 2022 USD ($)	Sep. 30, 2022 EUR (€)	Jul. 22, 2022 agreement	Jul. 14, 2022 USD ($) agreement	Dec. 31, 2021 USD ($)
Not Designated as Hedging Instrument
Derivatives, Fair Value [Line Items]
Notional amount	$ 183.1				$ 180.8
Cash Flow Hedging | Designated as hedging instruments
Derivatives, Fair Value [Line Items]
Notional amount				$ 600
Basis spread on variable rate (as a percent)	1.50%	1.50%		3.293%
Cash Flow Hedging | Designated as hedging instruments | Minimum
Derivatives, Fair Value [Line Items]
Basis spread on variable rate (as a percent)				1.125%
Cash Flow Hedging | Designated as hedging instruments | Maximum
Derivatives, Fair Value [Line Items]
Basis spread on variable rate (as a percent)				1.75%
Net Investment Hedging | Designated as hedging instruments
Derivatives, Fair Value [Line Items]
Notional amount	$ 275	€ 270
Interest rate swap agreements
Derivatives, Fair Value [Line Items]
Number of derivative instruments held | agreement				2
Interest rate swap agreements | Cash Flow Hedging
Derivatives, Fair Value [Line Items]
Loss related to interest rate swap agreements	$ 4.2
Cross currency swap agreements
Derivatives, Fair Value [Line Items]
Number of derivative instruments held | agreement			2

Derivatives - Schedule of Deriv

Derivatives - Schedule of Derivative Instruments (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Oct. 01, 2021	Sep. 30, 2022	Oct. 01, 2021
Interest rate swap agreements
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Realized loss			$ 1,045
Cross currency swap agreements | Not Designated as Hedging Instrument
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Realized loss	$ (740)	$ (1,383)	(17,235)	$ (1,472)
Change in unrealized gains (losses)	$ 279	$ (2,374)	$ 469	$ (6,108)

Derivatives - Schedule of Fair

Derivatives - Schedule of Fair Values of Derivative Instruments in the Financial Statements (Details) $ in Thousands	Sep. 30, 2022 USD ($)
Other Assets
Derivatives, Fair Value [Line Items]
Derivative assets	$ 22,433
Other Assets | Designated as hedging instruments | Cross currency swap agreements
Derivatives, Fair Value [Line Items]
Derivative assets	9,578
Other Assets | Designated as hedging instruments | Interest rate swap agreements
Derivatives, Fair Value [Line Items]
Derivative assets	12,855
Total gain recognized in AOCI, net of tax
Derivatives, Fair Value [Line Items]
Derivative assets	17,381
Total gain recognized in AOCI, net of tax | Designated as hedging instruments | Cross currency swap agreements
Derivatives, Fair Value [Line Items]
Derivative assets	7,421
Total gain recognized in AOCI, net of tax | Designated as hedging instruments | Interest rate swap agreements
Derivatives, Fair Value [Line Items]
Derivative assets	$ 9,960

Fair Value Measurements - Fair

Fair Value Measurements - Fair Value Hierarchy (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Assets:
Cash equivalents	$ 6,633	$ 8,133
Deferred compensation plans	2,189
Total assets at fair value	33,687	10,620
Liabilities:
Deferred compensation plans	2,189
Total liabilities at fair value	4,342
Cross currency swap agreements | Not Designated as Hedging Instrument
Assets:
Derivative assets	2,432	2,487
Liabilities:
Derivative liabilities		2,309
Cross currency swap agreements | Designated as hedging instruments
Assets:
Derivative assets	9,578
Interest rate swap agreements
Assets:
Derivative assets	12,855
Interest rate swap agreements | Not Designated as Hedging Instrument
Liabilities:
Derivative liabilities	2,153
Level One
Assets:
Cash equivalents	6,633	8,133
Deferred compensation plans	0
Total assets at fair value	6,633	8,133
Liabilities:
Deferred compensation plans	0
Total liabilities at fair value	0
Level One | Cross currency swap agreements | Not Designated as Hedging Instrument
Assets:
Derivative assets	0	0
Liabilities:
Derivative liabilities		0
Level One | Cross currency swap agreements | Designated as hedging instruments
Assets:
Derivative assets	0
Level One | Interest rate swap agreements
Assets:
Derivative assets	0
Level One | Interest rate swap agreements | Not Designated as Hedging Instrument
Liabilities:
Derivative liabilities	0
Level Two
Assets:
Cash equivalents	0	0
Deferred compensation plans	2,189
Total assets at fair value	27,054	2,487
Liabilities:
Deferred compensation plans	2,189
Total liabilities at fair value	4,342
Level Two | Cross currency swap agreements | Not Designated as Hedging Instrument
Assets:
Derivative assets	2,432	2,487
Liabilities:
Derivative liabilities		2,309
Level Two | Cross currency swap agreements | Designated as hedging instruments
Assets:
Derivative assets	9,578
Level Two | Interest rate swap agreements
Assets:
Derivative assets	12,855
Level Two | Interest rate swap agreements | Not Designated as Hedging Instrument
Liabilities:
Derivative liabilities	2,153
Level Three
Assets:
Cash equivalents	0	0
Deferred compensation plans	0
Total assets at fair value	0	0
Liabilities:
Deferred compensation plans	0
Total liabilities at fair value	0
Level Three | Cross currency swap agreements | Not Designated as Hedging Instrument
Assets:
Derivative assets	0	0
Liabilities:
Derivative liabilities		$ 0
Level Three | Cross currency swap agreements | Designated as hedging instruments
Assets:
Derivative assets	0
Level Three | Interest rate swap agreements
Assets:
Derivative assets	0
Level Three | Interest rate swap agreements | Not Designated as Hedging Instrument
Liabilities:
Derivative liabilities	$ 0

Equity - Accumulated Other Comp

Equity - Accumulated Other Comprehensive Loss (Details) - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2022	Jul. 01, 2022	Apr. 01, 2022	Oct. 01, 2021	Jul. 02, 2021	Apr. 02, 2021
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance			$ 2,460,735
Foreign currency translation adjustment	$ (97,649)	$ (100,143)	(44,681)
Unrealized gain on cash flow hedges	9,150
Other comprehensive income (loss) before reclassifications	(88,499)	(100,143)	(44,681)	$ (36,131)	$ 4,056	$ (29,726)
Amounts reclassified from Accumulated other comprehensive loss	1,576	770	786	270	208	220
Amounts contributed by Former Parent			(59,263)
Net current period Other comprehensive loss	(86,923)	(99,373)	(103,158)	(35,861)	4,264	(29,506)
Ending balance	1,209,185
Total
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	(663,419)	(564,046)	(460,888)	(421,445)	(425,709)	(396,203)
Ending balance	(750,342)	(663,419)	(564,046)	(457,306)	(421,445)	(425,709)
Net Unrecognized Pension And Other Post-Retirement Benefit Cost
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	(71,008)	(70,424)	(21,196)	(28,364)	(28,446)	(29,378)
Foreign currency translation adjustment	3,685	(1,354)	490
Unrealized gain on cash flow hedges	0
Other comprehensive income (loss) before reclassifications	3,685	(1,354)	490	508	(126)	712
Amounts reclassified from Accumulated other comprehensive loss	766	770	786	270	208	220
Amounts contributed by Former Parent			(50,504)
Net current period Other comprehensive loss	4,451	(584)	(49,228)	778	82	932
Ending balance	(66,557)	(71,008)	(70,424)	(27,586)	(28,364)	(28,446)
Foreign Currency Translation Adjustment
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	(592,411)	(493,622)	(439,692)	(393,081)	(397,263)	(366,825)
Foreign currency translation adjustment	(108,755)	(98,789)	(45,171)
Unrealized gain on cash flow hedges	0
Other comprehensive income (loss) before reclassifications	(108,755)	(98,789)	(45,171)	(36,639)	4,182	(30,438)
Amounts reclassified from Accumulated other comprehensive loss	0	0	0	0	0	0
Amounts contributed by Former Parent			(8,759)
Net current period Other comprehensive loss	(108,755)	(98,789)	(53,930)	(36,639)	4,182	(30,438)
Ending balance	(701,166)	(592,411)	(493,622)	$ (429,720)	$ (393,081)	$ (397,263)
Gains on Net Investment Hedges
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	0	0	0
Foreign currency translation adjustment	7,421	0	0
Unrealized gain on cash flow hedges	0
Other comprehensive income (loss) before reclassifications	7,421	0	0
Amounts reclassified from Accumulated other comprehensive loss	0	0	0
Amounts contributed by Former Parent			0
Net current period Other comprehensive loss	7,421	0	0
Ending balance	7,421	0	0
Gains on Cash Flow Hedges
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	0	0	0
Foreign currency translation adjustment	0	0	0
Unrealized gain on cash flow hedges	9,150
Other comprehensive income (loss) before reclassifications	9,150	0	0
Amounts reclassified from Accumulated other comprehensive loss	810	0	0
Amounts contributed by Former Parent			0
Net current period Other comprehensive loss	9,960	0	0
Ending balance	$ 9,960	$ 0	$ 0

Equity - Narratives (Details)

Equity - Narratives (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Oct. 01, 2021	Sep. 30, 2022	Oct. 01, 2021
Equity [Abstract]
Incremental stock-based compensation expense recorded as a result of equity conversion			$ 2.6
Stock-based compensation expenses	$ 4.2	$ 1.7	$ 9.5	$ 5

Commitments and Contingencies -

Commitments and Contingencies - Narrative (Details)	9 Months Ended
	Sep. 30, 2022
Commitments and Contingencies Disclosure [Abstract]
Future claims period	15 years

Commitments and Contingencies_2

Commitments and Contingencies - Asbestos-Related Claims Activity (Details)	9 Months Ended
	Sep. 30, 2022
Loss Contingency Accrual [Roll Forward]
Claims unresolved, beginning of period	14,559
Claims filed	3,285
Claims resolved	(3,677)
Claims unresolved, end of period	14,167

Commitments and Contingencies_3

Commitments and Contingencies - Asbestos Litigation (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Commitments and Contingencies Disclosure [Abstract]
Long-term asbestos insurance asset	$ 216,760
Long-term asbestos insurance receivable	23,291
Accrued asbestos liability	34,841
Long-term asbestos liability	$ 236,757	$ 0

Segment Information (Details)

Segment Information (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Oct. 01, 2021	Sep. 30, 2022	Oct. 01, 2021
Net sales	$ 620,265	$ 605,968	$ 1,929,353	$ 1,803,900
Adjusted EBITA	96,720	92,720	298,629	272,450
Operating income	80,994	78,664	250,486	233,165
Restructuring and other related charges	6,676	4,227	16,629	10,791
Separation costs	1,834	713	8,923	819
Amortization of acquired intangibles	7,216	8,934	22,523	27,130
Other	0	182	68	545
Americas
Net sales	281,361	260,005	844,741	739,793
Adjusted EBITA	43,200	38,627	128,860	102,665
EMEA & APAC
Net sales	338,904	345,963	1,084,612	1,064,107
Adjusted EBITA	$ 53,520	$ 54,093	$ 169,769	$ 169,785

Related Party Transactions (Det

Related Party Transactions (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Apr. 01, 2022	Oct. 01, 2021	Oct. 01, 2021
Former Partner
Related Party Transaction [Line Items]
Allocated expenses	$ 6	$ 5	$ 19.6

Subsequent Events (Details)

Subsequent Events (Details) - USD ($) $ in Thousands				3 Months Ended		9 Months Ended		12 Months Ended
	Oct. 17, 2022	Oct. 14, 2022	Jul. 01, 2022	Sep. 30, 2022	Oct. 01, 2021	Sep. 30, 2022	Oct. 01, 2021	Aug. 31, 2022
Subsequent Event [Line Items]
Payment of dividends			$ 3,000			$ 3,025	$ 0
Net sales				$ 620,265	$ 605,968	$ 1,929,353	$ 1,803,900
Ohio Medical, LLC
Subsequent Event [Line Items]
Net sales								$ 45,000
Subsequent Event
Subsequent Event [Line Items]
Payment of dividends		$ 3,000
Subsequent Event | Ohio Medical, LLC
Subsequent Event [Line Items]
Purchase price for merger agreement	$ 127,000
Cash tax benefit		$ 15,000