ESAB (ESAB) 10-Q 1 Aug 23 2023 Q2 Quarterly report Financial data

COVER PAGE

COVER PAGE	6 Months Ended
	Jun. 30, 2023 shares
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2023
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	60,259,369
Entity Central Index Key	0001877322
Current Fiscal Year End Date	--12-31
Amendment Flag	false
Document Fiscal Period Focus	Q2
Document Fiscal Year Focus	2023

CONSOLIDATED AND COMBINED CONDE

CONSOLIDATED AND COMBINED CONDENSED STATEMENTS OF OPERATIONS - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jul. 01, 2022	Jun. 30, 2023	Jul. 01, 2022
Income Statement [Abstract]
Net sales	$ 720,422	$ 661,177	$ 1,404,422	$ 1,309,088
Cost of sales	456,499	433,705	893,110	857,285
Gross profit	263,923	227,472	511,312	451,803
Selling, general and administrative expense	150,115	136,945	297,397	272,358
Restructuring and other related charges	5,169	4,649	14,613	9,953
Operating income	108,639	85,878	199,302	169,492
Interest expense and other, net	18,819	7,907	38,329	7,351
Income from continuing operations before income taxes	89,820	77,971	160,973	162,141
Income tax expense	20,974	20,047	57,998	45,793
Net income from continuing operations	68,846	57,924	102,975	116,348
Loss from discontinued operations, net of taxes	(1,623)	(1,900)	(2,536)	(3,921)
Net income	67,223	56,024	100,439	112,427
Less: Income attributable to noncontrolling interest, net of taxes	1,650	775	2,963	1,741
Net income attributable to ESAB Corporation	$ 65,573	$ 55,249	$ 97,476	$ 110,686
Earnings (loss) per share – basic
Income from continuing operations (in dollars per share)	$ 1.11	$ 0.95	$ 1.65	$ 1.90
Loss on discontinued operations (in dollars per share)	(0.03)	(0.03)	(0.04)	(0.07)
Net income per share (in dollars per share)	1.08	0.92	1.61	1.83
Earnings (loss) per share – diluted
Income from continuing operations (in dollars per share)	1.10	0.94	1.64	1.89
Loss on discontinued operations (in dollars per share)	(0.03)	(0.03)	(0.04)	(0.07)
Net income per share - diluted (in dollars per share)	$ 1.07	$ 0.91	$ 1.60	$ 1.82

CONSOLIDATED AND COMBINED CON_2

CONSOLIDATED AND COMBINED CONDENSED STATEMENTS OF COMPREHENSIVE (LOSS) INCOME - USD ($) $ in Thousands	3 Months Ended				6 Months Ended
	Jun. 30, 2023	Mar. 31, 2023	Jul. 01, 2022	Apr. 01, 2022	Jun. 30, 2023	Jul. 01, 2022
Statement of Comprehensive Income [Abstract]
Net income	$ 67,223	$ 33,216	$ 56,024	$ 56,403	$ 100,439	$ 112,427
Other comprehensive income (loss):
Foreign currency translation, net of tax (benefit) expense of $(483), $360, $(438) and $698	13,736		(101,888)		55,820	(147,077)
Unrealized gain on derivatives designated and qualifying as cash flow hedges, net of tax expense of $1,611 and $566	5,531		0		1,950	0
Defined benefit pension and other post-retirement plan activity, net of tax expense of $65, $234, $131 and $475	887		770		1,164	1,556
Other comprehensive income (loss)	20,154	$ 38,780	(101,118)	$ (44,403)	58,934	(145,521)
Comprehensive income (loss)	87,377		(45,094)		159,373	(33,094)
Less: comprehensive income (loss) attributable to noncontrolling interest	1,710		(970)		3,524	(512)
Comprehensive income (loss) attributable to ESAB Corporation	$ 85,667		$ (44,124)		$ 155,849	$ (32,582)

CONSOLIDATED AND COMBINED CON_3

CONSOLIDATED AND COMBINED CONDENSED STATEMENTS OF COMPREHENSIVE (LOSS) INCOME (Parenthetical) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jul. 01, 2022	Jun. 30, 2023	Jul. 01, 2022
Statement of Comprehensive Income [Abstract]
Foreign currency translation, tax expense (benefit)	$ (483)	$ 360	$ (438)	$ 698
Unrealized gain on hedging activities, tax expense	1,611		566
Defined benefit pension and other post-retirement plan activity, tax expense	65	234	131	475
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest	67,223	56,024	100,439	112,427
Foreign currency translation adjustment	13,736	(101,888)	55,820	(147,077)
Unrealized gain on derivatives designated and qualifying as cash flow hedges, net of tax expense of $1,611 and $566	5,531	0	1,950	0
Other Comprehensive (Income) Loss, Defined Benefit Plan, after Reclassification Adjustment, after Tax	887	770	1,164	1,556
Other comprehensive income (loss), net of tax (expense) benefit	20,154	(101,118)	58,934	(145,521)
Comprehensive Income (Loss), Net of Tax, Including Portion Attributable to Noncontrolling Interest	87,377	(45,094)	159,373	(33,094)
Less: comprehensive income (loss) attributable to noncontrolling interest	1,710	(970)	3,524	(512)
Comprehensive Income (Loss), Net of Tax, Attributable to Parent	$ 85,667	$ (44,124)	$ 155,849	$ (32,582)

CONSOLIDATED AND COMBINED CON_4

CONSOLIDATED AND COMBINED CONDENSED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
CURRENT ASSETS:
Cash and cash equivalents	$ 74,449	$ 72,024
Trade receivables, less allowance for credit losses of $25,845 and $23,471	412,668	374,329
Inventories, net	447,321	416,829
Prepaid expenses	69,057	56,637
Other current assets	68,111	68,851
Total current assets	1,071,606	988,670
Property, plant and equipment, net	281,809	284,226
Goodwill	1,585,939	1,529,767
Intangible assets, net	505,063	517,167
Lease assets - right of use	95,077	92,033
Other assets	323,350	342,152
Total assets	3,862,844	3,754,015
CURRENT LIABILITIES:
Accounts payable	333,166	316,265
Accrued liabilities	285,206	285,310
Total current liabilities	618,372	601,575
Long-term debt	1,159,100	1,218,643
Other liabilities	538,647	545,339
Total liabilities	2,316,119	2,365,557
Equity:
Common stock - $0.001 par value - 600,000,000 shares authorized, 60,259,369 and 60,094,725 shares outstanding as of June 30, 2023 and December 31, 2022, respectively	60	60
Additional paid-in capital	1,872,834	1,865,904
Retained earnings	250,030	159,231
Accumulated other comprehensive loss	(616,615)	(674,988)
Total ESAB Corporation equity	1,506,309	1,350,207
Noncontrolling interest	40,416	38,251
Total equity	1,546,725	1,388,458
Total liabilities and equity	$ 3,862,844	$ 3,754,015

CONSOLIDATED AND COMBINED CON_5

CONSOLIDATED AND COMBINED CONDENSED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Statement of Financial Position [Abstract]
Trade receivables, allowance for doubtful accounts	$ 25,845	$ 23,471
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)	60,259,369	60,094,725

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 Investment	Accumulated Other Comprehensive Loss	Noncontrolling Interest
Beginning balance (in shares) at Dec. 31, 2021		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)
Former Parent common stock-based award activity	1,728				1,728
Transfers to Former Parent, net	2,847				62,110	(59,263)
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		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	112,427
Other comprehensive income (loss), net of tax (expense) benefit	(145,521)
Ending balance (in shares) at Jul. 01, 2022		60,043,543
Ending balance at Jul. 01, 2022	1,281,403	$ 60	1,852,998	52,224	0	(663,419)	39,540
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	(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
Transfers to Former Parent, net	(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
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
Common stock-based award activity	3,627		3,627
Ending balance (in shares) at Jul. 01, 2022		60,043,543
Ending balance at Jul. 01, 2022	$ 1,281,403	$ 60	1,852,998	52,224	$ 0	(663,419)	39,540
Beginning balance (in shares) at Dec. 31, 2022	60,094,725	60,094,725
Beginning balance at Dec. 31, 2022	$ 1,388,458	$ 60	1,865,904	159,231		(674,988)	38,251
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	33,216			31,903			1,313
Distributions to noncontrolling owners	(1,359)						(1,359)
Dividends declared	(3,033)			(3,033)
Other comprehensive income (loss), net of tax (expense) benefit	38,780					38,279	501
Common stock-based award activity (in shares)		127,538
Common stock-based award activity	2,229		2,229
Ending balance (in shares) at Mar. 31, 2023		60,222,263
Ending balance at Mar. 31, 2023	$ 1,458,291	$ 60	1,868,133	188,101		(636,709)	38,706
Beginning balance (in shares) at Dec. 31, 2022	60,094,725	60,094,725
Beginning balance at Dec. 31, 2022	$ 1,388,458	$ 60	1,865,904	159,231		(674,988)	38,251
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	100,439
Other comprehensive income (loss), net of tax (expense) benefit	$ 58,934
Ending balance (in shares) at Jun. 30, 2023	60,259,369	60,259,369
Ending balance at Jun. 30, 2023	$ 1,546,725	$ 60	1,872,834	250,030		(616,615)	40,416
Beginning balance (in shares) at Mar. 31, 2023		60,222,263
Beginning balance at Mar. 31, 2023	1,458,291	$ 60	1,868,133	188,101		(636,709)	38,706
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	67,223			65,573			1,650
Dividends declared	(3,644)			(3,644)
Other comprehensive income (loss), net of tax (expense) benefit	20,154					20,094	60
Common stock-based award activity (in shares)		37,106
Common stock-based award activity	$ 4,701		4,701
Ending balance (in shares) at Jun. 30, 2023	60,259,369	60,259,369
Ending balance at Jun. 30, 2023	$ 1,546,725	$ 60	$ 1,872,834	$ 250,030		$ (616,615)	$ 40,416

CONSOLIDATED AND COMBINED CON_7

CONSOLIDATED AND COMBINED CONDENSED STATEMENTS OF EQUITY (Parenthetical) - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2023	Mar. 31, 2023	Jul. 01, 2022	Apr. 01, 2022
Statement of Stockholders' Equity [Abstract]
Dividends on common stock (in dollars per share)	$ 0.06	$ 0.05	$ 0.05
Other comprehensive income (loss), tax expense (benefit)	$ 1,193	$ (934)	$ 594	$ 579

CONSOLIDATED AND COMBINED CON_8

CONSOLIDATED AND COMBINED CONDENSED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2023	Jul. 01, 2022
Cash flows from operating activities:
Net income	$ 100,439	$ 112,427
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation, amortization, and other impairment charges	39,561	33,072
Stock-based compensation expense	7,462	5,355
Deferred income tax	998	(7,346)
Non-cash interest expense	597	597
Changes in operating assets and liabilities:
Trade receivables, net	(28,942)	(17,652)
Inventories, net	(24,733)	(65,984)
Accounts payable	3,267	17,450
Other operating assets and liabilities	2,072	(34,509)
Net cash provided by operating activities	100,721	43,410
Cash flows from investing activities:
Purchases of property, plant and equipment	(16,999)	(13,691)
Proceeds from sale of property, plant and equipment	1,936	3,358
Acquisition, net of cash received	(18,235)	0
Net cash used in investing activities	(33,298)	(10,333)
Cash flows from financing activities:
Proceeds from borrowings on term credit facility	0	1,000,000
Proceeds from borrowings on term credit facility	280,000	265,000
Repayments of borrowings on revolving credit facility and other	(340,537)	(79,639)
Payment of deferred financing fees and other	0	(5,641)
Payment of deferred consideration	0	(1,500)
Payment of dividends	(6,061)	0
Consideration to Former Parent in connection with the Separation	0	(1,200,000)
Distributions to noncontrolling interest holders	(1,274)	(941)
Transfers from Former Parent, net	0	2,847
Net cash used in financing activities	(67,872)	(19,874)
Effect of foreign exchange rates on Cash and cash equivalents	2,874	(937)
Increase in Cash and cash equivalents	2,425	12,266
Cash and cash equivalents, beginning of period	72,024	41,209
Cash and cash equivalents, end of period	$ 74,449	$ 53,475

Organization and Basis of Prese

Organization and Basis of Presentation	6 Months Ended
	Jun. 30, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization and Basis of Presentation	Organization and Basis of Presentation Founded in 1904, ESAB Corporation (“ESAB” or the “Company”) is a world leader in connected fabrication technology and gas control solutions. ESAB provides its partners with advanced equipment, consumables, gas control equipment, robotics, and digital solutions. The Company’s rich history of innovative products and workflow solutions and its business system ESAB Business Excellence (“EBX”) allows the Company to realize its purpose of Shaping the World We Imagine . TM 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. The Company’s fiscal year ends December 31. The Company’s second quarter ends on the last business day of the 13 th week after the end of the prior quarter. As used herein, the second quarter results for 2023 and 2022 refer to the 13-week periods ended June 30, 2023 and July 1, 2022, respectively. Separation from Enovis On April 4, 2022, Colfax Corporation (“Colfax”, “Enovis” or the “Former Parent”) completed the spin-off of Colfax’s Fabrication Technology business and certain other corporate entities, 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 ESA B. In November 2022, Enovis sold a total of 6.0 million shares of the Company’s common stock as part of a secondary offering. After the secondary offering, Enovis no longer owned any of the Company’s outstanding common stock. Russia and Ukraine Conflict The invasion of Ukraine by Russia and the sanctions imposed in response have increased the level of economic and political uncertainty. While ESAB continues to closely monitor the situation and evaluate options, the Company is meeting current contractual obligations while addressing applicable laws and regulations. For the three and six months ended June 30, 2023, Russia represented approximate ly 6% of the Company’s total revenue, and app roximately $4 million and $6 million of its N et income, respectively. Russia also has approximately 4% of the Company’s total net assets excluding any goodwill allocation as of June 30, 2023. In case of the disposition of the Russia business, a portion of goodwill would need to be allocated and disposed of at the relative fair value attributable to the Russia business. Russia has a cumulative translation loss of approximately $120 million as of June 30, 2023, which could be realized upon a transition out. The Company is closely monitoring 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 Prior to the Separation on April 4, 2022, the historical financial statements were prepared on a combined basis and were derived from the consolidated financial statements of Enovis. For the periods subsequent to April 4, 2022, the financial statements are presented on a consolidated basis as the Company became a standalone public company as of that date. 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. The Company’s allocated expenses from the Former Parent were $6.0 million for the three months ended April 1, 2022. 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 to Former Parent, net.” The Consolidated and Combined Condensed Financial Statements of ESAB for the three months ended April 1, 2022 are not 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 are in subsequent periods. 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 $9.5 million and $19.1 million during the three and six months ended June 30, 2023, respectively, and $9.6 million and $19.1 million during the three and six months ended July 1, 2022, respectively. T hese amounts do not include development and application engineering costs incurred in conjunction with fulfilling customer orders and executing customer projects, nor do they include costs related to securing third party product rights. We expect to continue making significant expenditures for research and development to maintain and improve our competitive positions. In addition to the factors discussed elsewhere in this Form 10-Q, the results of operations for the three and six months ended June 30, 2023, 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. 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 Consolidated and Combined Financial Statements and related notes included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2022 (the “2022 Form 10-K”), filed with the SEC on March 7, 2023.

Discontinued Operations

Discontinued Operations	3 Months Ended
	Jun. 30, 2023
Discontinued Operations and Disposal Groups [Abstract]
Discontinued Operations	Discontinued OperationsThe 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 in connection with the Separation. The Company has classified asbestos-related activity included in its Consolidated and Combined Condensed Statements of Operations as part of Loss from discontinued operations, net of taxes. Loss from discontinued operations, net of taxes consists of Selling, general and administrative expenses of $2.1 million and $3.0 million , and a tax benefit of $0.5 million and $0.5 million for the three and six months ended June 30, 2023, respectively, and $2.3 million and $4.9 million, and a tax benefit of $0.4 million and $1.0 million for the three and six months ended July 1, 2022, respectively . S ee Note 13 “Commitments and Contingencies” for further information. Cas h used in operating activities related to discontinued operations for the three and six months ended June 30, 2023 was $4.4 million and $9.7 million, respectively, and was $9.1 million and $13.7 million for the three and s ix months ended July 1, 2022 , respectively.

Acquisition

Acquisition	6 Months Ended
	Jun. 30, 2023
Business Combinations [Abstract]
Acquisition	AcquisitionOn January 11, 2023, the Company completed the acquisition of Therapy Equipment Limited, a regional leader in oxygen regulators, for $18.7 million, net of cash received.

Revenue

Revenue	6 Months Ended
	Jun. 30, 2023
Revenue from Contract with Customer [Abstract]
Revenue	Revenue The Company provides advanced equipment, consumables, gas control equipment, robotics and digital solutions. The Company’s products are utilized to solve challenges in a wide 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 Six Months Ended June 30, 2023 July 1, 2022 June 30, 2023 July 1, 2022 (In thousands) Equipment $ 226,049 $ 190,574 $ 426,268 $ 378,922 Consumables 494,373 470,603 978,154 930,166 Total $ 720,422 $ 661,177 $ 1,404,422 $ 1,309,088 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 June 30, 2023 is immaterial. In some circumstances, customers are billed in advance of revenue recognition, resulting in contract liabilities. As of December 31, 2022 and December 31, 2021, total contract liabilities were $25.9 million and $22.3 million, respectively, and were included in Accrued liabilities on the Consolidated and Combined Condensed Balance Sheets. During the three and six months ended June 30, 2023, revenue recognized that was included in the contract liability balance at the beginning of the year w as $3.3 million and $14.4 million, res pectively. During the three and six months ended July 1, 2022, revenue recognized that was included in the contract liability balance at the beginning of the year was $5.3 million and $14.4 million, respectively. As of June 30, 2023 and July 1, 2022, total contract liabilities were $28.2 million and $21.5 million, respectively, and were included in Accrued liabilities on the Company’s Consolidated and 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 Condensed Balance Sheets is as follows: Six Months Ended June 30, 2023 Balance at Charged to Expense, net Write-Offs and Deductions Foreign Balance at (In thousands) Allowance for credit losses $ 23,471 $ 2,930 $ (948) $ 392 $ 25,845

Earnings per Share from Continu

Earnings per Share from Continuing Operations	6 Months Ended
	Jun. 30, 2023
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 Six Months Ended June 30, 2023 July 1, 2022 June 30, 2023 July 1, 2022 (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) $ 67,196 $ 57,149 $ 100,013 $ 114,607 Less: distributed and undistributed earnings allocated to nonvested shares (500) (372) (737) (742) Income from continuing operations attributable to common stockholders $ 66,696 $ 56,777 $ 99,276 $ 113,865 Weighted-average shares of Common stock outstanding – basic (3) 60,237,955 60,038,053 60,192,152 60,036,182 Income per share from continuing operations – basic $ 1.11 $ 0.95 $ 1.65 $ 1.90 Computation of earnings per share from continuing operations – diluted: Income from continuing operations attributable to common stockholders $ 66,696 $ 56,777 $ 99,276 $ 113,865 Weighted-average shares of Common stock outstanding – basic (3) 60,237,955 60,038,053 60,192,152 60,036,182 Net effect of potentially dilutive securities (2) 323,384 147,467 331,631 73,734 Weighted-average shares of Common stock outstanding – dilution 60,561,339 60,185,520 60,523,783 60,109,916 Net income per share from continuing operations – diluted $ 1.10 $ 0.94 $ 1.64 $ 1.89 (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 $1.7 million and $3.0 million for the three and six months ended June 30, 2023, respectively, and $0.8 million and $1.7 million for the three and six months ended July 1, 2022, respectively. (2) Potentially dilutive securities include stock options, performance-based restricted stock units, and non-performance-based restricted stock units. (3) Prior to the Separation, the Company did not have any publicly-traded common stock or equivalents issued and outstanding. Accordingly, the net income per share for the three months ended April 1, 2022 is calculated based on the 60.0 million shares distributed on the Separation Date.

Income Taxes

Income Taxes	6 Months Ended
	Jun. 30, 2023
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes During the three and six months ended June 30, 2023, Income from continuing operations before income taxes was $89.8 million and $161.0 million, respectively, while Income tax expense was $21.0 million and $58.0 million, respectively. The effective tax rate was 23.4% and 36.0% for the three and six months ended June 30, 2023, respectively. The effective tax rates differed from the 2023 U.S. federal statutory rate of 21.0% primarily due to discrete tax expenses for dividend withholding taxes and an increase in the liability for unrecognized tax as described below. During the three and six months ended July 1, 2022 , Income from continuing operations before income taxes was $78.0 million and $162.1 million, respectively, while Income tax expense was $20.0 million and $45.8 million, respectively. The effective tax rate was 25.7% and 28.2% for the three and six months ended July 1, 2022 . The effective tax rates differed from the 2022 U.S. federal statutory rate of 21.0% primarily due to the impact of withholding taxes and non-deductible expenses. During the six months ended June 30, 2023, the Company changed its indefinite reinvestment assertion on certain undistributed earnings of the Company’s foreign subsidiaries, resulting in a total tax expense of $10.9 million, which was recorded in the three months ended March 31, 2023, on such earnings that have not been indefinitely reinvested. The Company records a liability for certain unrecognized income tax benefits for which it is more likely than not that a tax position will not be sustained upon examination by the respective taxing authority (“uncertain tax positions”). During the six months ended June 30, 2023, due to an adverse court ruling in a tax case in a foreign jurisdiction the Company increased the related liability for uncertain tax positions by $9.4 million partially offset by changes in other positions that occurred during the three months ended March 31, 2023.

Inventories, Net

Inventories, Net	6 Months Ended
	Jun. 30, 2023
Inventory Disclosure [Abstract]
Inventories, Net	Inventories, Net Inventories, net consisted of the following: June 30, 2023 December 31, 2022 (In thousands) Raw materials $ 168,351 $ 153,099 Work in process 49,455 44,086 Finished goods 279,568 261,902 497,374 459,087 LIFO reserve (4,268) (2,168) Less: allowance for excess, slow-moving and obsolete inventory (45,785) (40,090) $ 447,321 $ 416,829 At June 30, 2023 and December 31, 2022 , 28.4% a nd 31.5% of total inventories, respectively, were valued using the LIFO method.

Accrued and Other Liabilities

Accrued and Other Liabilities	6 Months Ended
	Jun. 30, 2023
Accrued Liabilities [Abstract]
Accrued and Other Liabilities	Accrued and Other Liabilities Accrued and Other liabilities in the Consolidated and Condensed Balance Sheets consisted of the following: June 30, 2023 December 31, 2022 Current Noncurrent Current Noncurrent (In thousands) Accrued taxes and deferred tax liabilities $ 46,021 $ 172,271 $ 49,615 $ 161,500 Compensation and related benefits 77,751 55,834 74,794 57,438 Asbestos liability 29,168 204,968 30,108 230,581 Contract liability 28,185 — 25,899 — Lease liability 20,163 78,188 18,664 76,163 Warranty liability 13,559 — 12,946 — Third-party commissions 13,174 — 18,315 — Restructuring liability 7,177 47 7,533 285 Other 50,008 27,339 47,436 19,372 $ 285,206 $ 538,647 $ 285,310 $ 545,339 Accrued Warranty Liability A summary of the activity in the Company’s warranty liability included in Accrued liabilities in the Company’s Consolidated and Condensed Balance Sheets is as follows: Six Months Ended June 30, 2023 July 1, 2022 (In thousands) Warranty liability, beginning of period $ 12,946 $ 14,954 Accrued warranty expense 3,306 2,644 Changes in estimates related to pre-existing warranties 1,703 1,519 Cost of warranty service work performed (5,832) (4,508) Acquisition-related liability 1,278 — Foreign exchange translation effect 158 (530) Warranty liability, end of period $ 13,559 $ 14,079 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 Condensed Balance Sheets is as follows: Six Months Ended June 30, 2023 Balance at Beginning of Period Charges Payments Foreign Currency Translation Balance at End of Period (In thousands) Restructuring and other related charges: Termination benefits (1) $ 4,910 $ 4,612 $ (5,577) $ 61 $ 4,006 Facility closure costs and other (2) 2,908 4,822 (4,611) 99 3,218 Subtotal $ 7,818 9,434 $ (10,188) $ 160 $ 7,224 Non-cash charges (3) 5,179 Total $ 14,613 (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

Debt	6 Months Ended
	Jun. 30, 2023
Debt Disclosure [Abstract]
Debt	Debt Long-term debt consisted of the following: June 30, 2023 December 31, 2022 (In thousands) Term loans $ 1,000,000 $ 1,000,000 Revolving credit facilities 161,000 221,000 Total debt 1,161,000 1,221,000 Unamortized deferred financing fees (1,900) (2,357) Long-term debt $ 1,159,100 $ 1,218,643 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 consisting 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 remained 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 Credit Agreement Amendment), 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 year ended December 31, 2022. Refer to Note 10 “Derivatives” for additional information. As of June 30, 2023, the weighted-average interest rate of borrowings under the Credit Agreement wa s 5.27%, in cluding the net impact from the interest rate and cross currency swaps and excluding accretion of deferred financing fees, and there was $589 million of borrowing capacity available under the Revolving Facility, subject to meeting financial covenants and other requirements. Deferred Financing Fees In total, the Company had deferred financing fees of $3.0 million i ncluded in its Consolidated Balance Sheet as of June 30, 2023, which will be charged to Interest expense and other, net, using the straight-line method. The costs associated with the Term Facilities will be amortized over the contractual term of the Term Facilities and the costs associated with the Revolving Facility will be amortized over the life of the Credit Agreement. Of the $3.0 million, $1.1 million of deferred financing fees relating to the Revolving Facility are included in Other assets a nd $1.9 million of deferred financing fees relating to the Term Facilities are recorded as a contra-liability within Long-term debt. Other Indebtedness In addition to the debt agreements discussed above, the Company also has the ability to incur approximately $77 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 $111.1 million. Total letters of credit of $28.2 million were outstanding as of June 30, 2023.

Derivatives

Derivatives	6 Months Ended
	Jun. 30, 2023
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 June 30, 2023. The Company does not expect any counterparties to fail to meet their obligations. The Company records derivatives in the Consolidated and 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 1.250% as of June 30, 2023. 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 (loss) (“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. The Company did not have any ineffectiveness related to cash flow hedges during the six months ended June 30, 2023. 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 $9.6 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 June 30, 2023. 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 Six Months Ended Derivative type Gain recognized in the Consolidated and Combined Condensed Statements of Operations: June 30, 2023 June 30, 2023 (In thousands) Interest rate swap agreements Interest expense and other, net $ (2,717) $ (4,695) 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 include provisions 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 June 30, 2023, 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 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 AOCI into earnings during the period of change. The Company did not have any ineffectiveness related to net investment hedges during the six months ended June 30, 2023. 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 effects of the excluded components of designated net investment hedges on the Company’s Consolidated and Combined Condensed Statements of Operations consisted of the following: Three Months Ended Six Months Ended Derivative type Gain recognized in the Consolidated and Combined Condensed Statements of Operations: June 30, 2023 June 30, 2023 (In thousands) Cross currency swap agreements Interest expense and other, net $ (1,187) $ (2,388) The table below shows the fair value of the derivatives recognized in the Consolidated Balance Sheet: June 30, 2023 December 31, 2022 Designated as hedging instruments: Other Liabilities Other Assets Other Liabilities Other Assets (In thousands) Cross currency swap agreements $ 17,379 $ — $ 10,769 $ — Interest rate swap agreements — 16,858 — 14,342 Total $ 17,379 $ 16,858 $ 10,769 $ 14,342 Derivatives Not Designated as Hedging Instruments The Company has certain foreign currency contracts that are not designated as hedges. As of June 30, 2023 and December 31, 2022, the Company had foreign currency contracts related to purchases and sales with notional values of $195.9 million and $260.0 million, respectively. The table below shows the fair value of derivative instruments not designated in a hedging relationship recognized in the Consolidated Balance Sheet: June 30, 2023 December 31, 2022 Not designated as hedging instruments Accrued Liabilities Other Current Assets Accrued Liabilities Other Current Assets (In thousands) Foreign currency contracts $ 1,058 $ 1,280 $ 2,166 $ 3,682 The amounts in the table above as of June 30, 2023 reflect the fair value of the Company’s foreign currency contracts on a net basis where allowable under master netting agreements. Had these amounts been recognized on a gross basis, the impact would have been a $1.8 million increase in Other current assets with a corresponding increase in Accrued liabilities. 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 Six Months Ended Foreign currency contracts June 30, 2023 July 1, 2022 June 30, 2023 July 1, 2022 (In thousands) Change in unrealized gains (losses) $ (1,437) $ 1,376 $ (1,293) $ 190 Realized gain (loss) 238 (2,016) 1,265 (16,495) The above gains or losses on foreign currency contracts are usually offset by foreign exchange exposure on cash and intercompany positions, all of which are recognized in Interest expense and other, net, in the Consolidated and Combined Condensed Statements of Operations.

Fair Value Measurements

Fair Value Measurements	6 Months Ended
	Jun. 30, 2023
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: June 30, 2023 Level Level Level Total (In thousands) Assets: Cash equivalents $ 4,480 $ — $ — $ 4,480 Foreign currency contracts - not designated as hedges — 3,055 — 3,055 Interest rate swap agreements — 16,858 — 16,858 Deferred compensation plans — 3,206 — 3,206 $ 4,480 $ 23,119 $ — $ 27,599 Liabilities: Foreign currency contracts - not designated as hedges $ — $ 2,833 $ — $ 2,833 Cross currency swap agreements — 17,379 — 17,379 Deferred compensation plans — 3,206 — 3,206 $ — $ 23,418 $ — $ 23,418 December 31, 2022 Level Level Level Total (In thousands) Assets: Cash equivalents $ 8,195 $ — $ — $ 8,195 Foreign currency contracts - not designated as hedges — 3,682 — 3,682 Interest rate swap agreements — 14,342 — 14,342 Deferred compensation plans — 2,501 — 2,501 $ 8,195 $ 20,525 $ — $ 28,720 Liabilities: Foreign currency contracts - not designated as hedges $ — $ 2,166 $ — $ 2,166 Cross currency swap agreements — 10,769 — 10,769 Deferred compensation plans — 2,501 — 2,501 $ — $ 15,436 $ — $ 15,436 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 six months ended June 30, 2023, 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 six months ended June 30, 2023.

Equity

Equity	6 Months Ended
	Jun. 30, 2023
Equity [Abstract]
Equity	Equity Accumulated Other Comprehensive Loss The following tables present the changes in the balances of each component of AOCI including reclassifications out of AOCI for the six months ended June 30, 2023 and July 1, 2022. 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 Net Investment Hedges Cash Flow Hedges Total (In thousands) Balance at December 31, 2022 $ (63,847) $ (613,907) $ (8,336) $ 11,102 $ (674,988) Other comprehensive income (loss) before reclassifications: Net actuarial loss (2) — — — (2) Foreign currency translation adjustment (108) 31,276 (2,086) — 29,082 Gain on long-term intra-entity foreign currency transactions — 12,501 — — 12,501 Unrealized loss on cash flow hedges — — — (2,051) (2,051) Other comprehensive (loss) income before reclassifications (110) 43,777 (2,086) (2,051) 39,530 Amounts reclassified from Accumulated other comprehensive loss (1)(2) 279 — — (1,530) (1,251) Net current period Other comprehensive (loss) income 169 43,777 (2,086) (3,581) 38,279 Balance at March 31, 2023 $ (63,678) $ (570,130) $ (10,422) $ 7,521 $ (636,709) Other comprehensive income (loss) before reclassifications: Net actuarial loss (2) — — — (2) Foreign currency translation adjustment (49) (6,381) (3,036) — (9,466) Gain on long-term intra-entity foreign currency transactions — 23,142 — — 23,142 Unrealized gain on cash flow hedges — — — 7,640 7,640 Other comprehensive income (loss) before reclassifications (51) 16,761 (3,036) 7,640 21,314 Amounts reclassified from Accumulated other comprehensive loss (1)(2) 889 — — (2,109) (1,220) Net current period Other comprehensive (loss) income 838 16,761 (3,036) 5,531 20,094 Balance at June 30, 2023 $ (62,840) $ (553,369) $ (13,458) $ 13,052 $ (616,615) (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. (2) During the three and six months ended June 30, 2023, the amount on this line within the Cash Flow Hedges column, is a component of Interest expense 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, 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 income (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 income (loss) (584) (98,789) (99,373) Balance at July 1, 2022 $ (71,008) $ (592,411) $ (663,419) (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.

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2023
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, net of taxes 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 that 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 is as follows: Six Months Ended June 30, 2023 July 1, 2022 (Number of claims) Claims unresolved, beginning of period 14,106 14,559 Claims filed (1) 2,209 2,169 Claims resolved (2) (1,551) (1,790) Claims unresolved, end of period 14,764 14,938 (1) Claims filed include all asbestos claims for which notification have 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: June 30, 2023 December 31, 2022 (In thousands) Long-term asbestos insurance asset (1) $ 194,120 $ 215,112 Long-term asbestos insurance receivable (1) 18,610 17,231 Accrued asbestos liability (2) 29,168 30,108 Long-term asbestos liability (3) 204,968 230,581 (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 that 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	6 Months Ended
	Jun. 30, 2023
Segment Reporting [Abstract]
Segment Information	Segment Information ESAB is a world leader in connected fabrication technology and gas control solutions. ESAB provides its partners with advanced equipment, consumables, gas control equipment, robotics, and digital solutions. 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. The Company’s management evaluates the operating results of each of its reportable segments based upon Net sales and Adjusted EBITDA, which represents Net income from continuing operations excluding the impact of Income tax expense, Interest expense and other, net, Restructuring and other related charges, separation costs, acquisition - amortization and other related charges, and depreciation and other amortization . The Com pany’s segment results were as follows: Three Months Ended Six Months Ended June 30, 2023 July 1, 2022 June 30, 2023 July 1, 2022 (In thousands) Net sales: Americas $ 310,278 $ 291,055 $ 601,847 $ 563,380 EMEA & APAC 410,144 370,122 802,575 745,708 $ 720,422 $ 661,177 $ 1,404,422 $ 1,309,088 Adjusted EBITDA (1) : Americas $ 58,263 $ 48,567 $ 107,705 $ 92,552 EMEA & APAC 73,810 61,940 142,357 127,222 $ 132,073 $ 110,507 $ 250,062 $ 219,774 (1) The following is a reconciliation of Net income from continuing operations to Adjusted EBITDA. Three Months Ended Six Months Ended June 30, 2023 July 1, 2022 June 30, 2023 July 1, 2022 (In thousands) Net income from continuing operations $ 68,846 $ 57,924 $ 102,975 $ 116,348 Income tax expense 20,974 20,047 57,998 45,793 Interest expense and other, net (1) 18,819 7,907 38,329 7,419 Restructuring and other related charges 5,169 4,649 14,613 9,953 Separation costs (2) — 3,460 — 7,089 Acquisition - amortization and other related charges (3) 9,252 7,627 18,541 15,307 Depreciation and other amortization 9,013 8,893 17,606 17,865 Adjusted EBITDA $ 132,073 $ 110,507 $ 250,062 $ 219,774 (1) Relates to removal of interest expense, net included within the Interest expense and other, net line within the Consolidated and Combined Condensed Statements of Operations. (2) Includes non-recurring charges and employee costs related to 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.

Related Party Transactions

Related Party Transactions	6 Months Ended
	Jun. 30, 2023
Related Party Transactions [Abstract]
Related Party Transactions	elated 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. Such agreements are described in the Company’s 2022 Form 10-K. Allocated Expenses Prior to the Separation, the Company 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 three months ended April 1, 2022; 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 are not 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. 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. 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 June 30, 2023. Net Parent Investment All of the Company’s transactions with the Former Parent were considered to be financing transactions, which are presented as Transfers from Former Parent, net in the accompanying Consolidated and Combined Condensed Statements of Cash Flows.

Subsequent Events

Subsequent Events	6 Months Ended
	Jun. 30, 2023
Subsequent Events [Abstract]
Subsequent Events	Subsequent EventsThe dividend of $3.6 million included in Accrued liabilities in the Consolidated Balance Sheet at June 30, 2023 was paid on July 11, 2023 to stockholders of record as of June 30, 2023.

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jul. 01, 2022	Jun. 30, 2023	Jul. 01, 2022
Pay vs Performance Disclosure
Net income	$ 65,573	$ 55,249	$ 97,476	$ 110,686

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended	6 Months Ended
	Jun. 30, 2023 shares	Jun. 30, 2023 shares
Trading Arrangements, by Individual
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false
Mr. Kevin Johnson [Member]
Trading Arrangements, by Individual
Material Terms of Trading Arrangement		On May 3, 2023, Mr. Kevin Johnson, the Chief Financial Officer of the Company, adopted a trading plan intended to satisfy Rule 10b5-1(c) to sell up to 3,582 shares of Company common stock between August 3, 2023 and February 29, 2024, subject to certain conditions, all of which shares are to be acquired upon exercise of employee stock options, including options scheduled to expire on February 12, 2024.
Name	Mr. Kevin Johnson
Title	Chief Financial Officer
Rule 10b5-1 Arrangement Adopted	true
Adoption Date	May 3, 2023
Arrangement Duration	210 days
Aggregate Available	3,582	3,582
Mr. Olivier Biebuyck [Member]
Trading Arrangements, by Individual
Material Terms of Trading Arrangement		On June 13, 2023, Mr. Olivier Biebuyck, the President, Fabrication Technology of the Company, adopted a trading plan intended to satisfy Rule 10b5-1(c) to sell up to 10,991 shares of Company common stock between September 13, 2023 and June 3, 2024, subject to certain conditions, all of which shares are to be acquired upon the exercise of employee stock options, including options scheduled to expire on May 31, 2024.
Name	Mr. Olivier Biebuyck
Title	President, Fabrication Technology
Rule 10b5-1 Arrangement Adopted	true
Adoption Date	June 13, 2023
Arrangement Duration	264 days
Aggregate Available	10,991	10,991

Organization and Basis of Pre_2

Organization and Basis of Presentation (Policies)	6 Months Ended
	Jun. 30, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Fiscal Period	The Company’s fiscal year ends December 31. The Company’s second quarter ends on the last business day of the 13 th
Separation from Enovis	On April 4, 2022, Colfax Corporation (“Colfax”, “Enovis” or the “Former Parent”) completed the spin-off of Colfax’s Fabrication Technology business and certain other corporate entities, 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 ESA B. In November 2022, Enovis sold a total of 6.0 million shares of the Company’s common stock as part of a secondary offering. After the secondary offering, Enovis no longer owned any of the Company’s outstanding common stock.
Basis of Presentation	Prior to the Separation on April 4, 2022, the historical financial statements were prepared on a combined basis and were derived from the consolidated financial statements of Enovis. For the periods subsequent to April 4, 2022, the financial statements are presented on a consolidated basis as the Company became a standalone public company as of that date. 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. The Company’s allocated expenses from the Former Parent were $6.0 million for the three months ended April 1, 2022. 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 to Former Parent, net.” The Consolidated and Combined Condensed Financial Statements of ESAB for the three months ended April 1, 2022 are not 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 are in subsequent periods. 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 six months ended June 30, 2023, 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. 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 Consolidated and Combined Financial Statements and related notes included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2022 (the “2022 Form 10-K”), filed with the SEC on March 7, 2023.
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)	6 Months Ended
	Jun. 30, 2023
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 Six Months Ended June 30, 2023 July 1, 2022 June 30, 2023 July 1, 2022 (In thousands) Equipment $ 226,049 $ 190,574 $ 426,268 $ 378,922 Consumables 494,373 470,603 978,154 930,166 Total $ 720,422 $ 661,177 $ 1,404,422 $ 1,309,088
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 Condensed Balance Sheets is as follows: Six Months Ended June 30, 2023 Balance at Charged to Expense, net Write-Offs and Deductions Foreign Balance at (In thousands) Allowance for credit losses $ 23,471 $ 2,930 $ (948) $ 392 $ 25,845

Earnings per Share from Conti_2

Earnings per Share from Continuing Operations (Tables)	6 Months Ended
	Jun. 30, 2023
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 Six Months Ended June 30, 2023 July 1, 2022 June 30, 2023 July 1, 2022 (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) $ 67,196 $ 57,149 $ 100,013 $ 114,607 Less: distributed and undistributed earnings allocated to nonvested shares (500) (372) (737) (742) Income from continuing operations attributable to common stockholders $ 66,696 $ 56,777 $ 99,276 $ 113,865 Weighted-average shares of Common stock outstanding – basic (3) 60,237,955 60,038,053 60,192,152 60,036,182 Income per share from continuing operations – basic $ 1.11 $ 0.95 $ 1.65 $ 1.90 Computation of earnings per share from continuing operations – diluted: Income from continuing operations attributable to common stockholders $ 66,696 $ 56,777 $ 99,276 $ 113,865 Weighted-average shares of Common stock outstanding – basic (3) 60,237,955 60,038,053 60,192,152 60,036,182 Net effect of potentially dilutive securities (2) 323,384 147,467 331,631 73,734 Weighted-average shares of Common stock outstanding – dilution 60,561,339 60,185,520 60,523,783 60,109,916 Net income per share from continuing operations – diluted $ 1.10 $ 0.94 $ 1.64 $ 1.89 (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 $1.7 million and $3.0 million for the three and six months ended June 30, 2023, respectively, and $0.8 million and $1.7 million for the three and six months ended July 1, 2022, respectively. (2) Potentially dilutive securities include stock options, performance-based restricted stock units, and non-performance-based restricted stock units. (3) Prior to the Separation, the Company did not have any publicly-traded common stock or equivalents issued and outstanding. Accordingly, the net income per share for the three months ended April 1, 2022 is calculated based on the 60.0 million shares distributed on the Separation Date.

Inventories, Net (Tables)

Inventories, Net (Tables)	6 Months Ended
	Jun. 30, 2023
Inventory Disclosure [Abstract]
Schedule of Inventory, Net	Inventories, net consisted of the following: June 30, 2023 December 31, 2022 (In thousands) Raw materials $ 168,351 $ 153,099 Work in process 49,455 44,086 Finished goods 279,568 261,902 497,374 459,087 LIFO reserve (4,268) (2,168) Less: allowance for excess, slow-moving and obsolete inventory (45,785) (40,090) $ 447,321 $ 416,829

Accrued and Other Liabilities (

Accrued and Other Liabilities (Tables)	6 Months Ended
	Jun. 30, 2023
Accrued Liabilities [Abstract]
Schedule of Accrued and Other Liabilities	Accrued and Other liabilities in the Consolidated and Condensed Balance Sheets consisted of the following: June 30, 2023 December 31, 2022 Current Noncurrent Current Noncurrent (In thousands) Accrued taxes and deferred tax liabilities $ 46,021 $ 172,271 $ 49,615 $ 161,500 Compensation and related benefits 77,751 55,834 74,794 57,438 Asbestos liability 29,168 204,968 30,108 230,581 Contract liability 28,185 — 25,899 — Lease liability 20,163 78,188 18,664 76,163 Warranty liability 13,559 — 12,946 — Third-party commissions 13,174 — 18,315 — Restructuring liability 7,177 47 7,533 285 Other 50,008 27,339 47,436 19,372 $ 285,206 $ 538,647 $ 285,310 $ 545,339
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 Condensed Balance Sheets is as follows: Six Months Ended June 30, 2023 July 1, 2022 (In thousands) Warranty liability, beginning of period $ 12,946 $ 14,954 Accrued warranty expense 3,306 2,644 Changes in estimates related to pre-existing warranties 1,703 1,519 Cost of warranty service work performed (5,832) (4,508) Acquisition-related liability 1,278 — Foreign exchange translation effect 158 (530) Warranty liability, end of period $ 13,559 $ 14,079
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 Condensed Balance Sheets is as follows: Six Months Ended June 30, 2023 Balance at Beginning of Period Charges Payments Foreign Currency Translation Balance at End of Period (In thousands) Restructuring and other related charges: Termination benefits (1) $ 4,910 $ 4,612 $ (5,577) $ 61 $ 4,006 Facility closure costs and other (2) 2,908 4,822 (4,611) 99 3,218 Subtotal $ 7,818 9,434 $ (10,188) $ 160 $ 7,224 Non-cash charges (3) 5,179 Total $ 14,613 (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)	6 Months Ended
	Jun. 30, 2023
Debt Disclosure [Abstract]
Schedule of Long-Term Debt	Long-term debt consisted of the following: June 30, 2023 December 31, 2022 (In thousands) Term loans $ 1,000,000 $ 1,000,000 Revolving credit facilities 161,000 221,000 Total debt 1,161,000 1,221,000 Unamortized deferred financing fees (1,900) (2,357) Long-term debt $ 1,159,100 $ 1,218,643

Derivatives (Tables)

Derivatives (Tables)	6 Months Ended
	Jun. 30, 2023
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 Six Months Ended Derivative type Gain recognized in the Consolidated and Combined Condensed Statements of Operations: June 30, 2023 June 30, 2023 (In thousands) Interest rate swap agreements Interest expense and other, net $ (2,717) $ (4,695)
Schedule of Derivatives Instruments Statements of Financial Performance and Financial Position, Location	The effects of the excluded components of designated net investment hedges on the Company’s Consolidated and Combined Condensed Statements of Operations consisted of the following: Three Months Ended Six Months Ended Derivative type Gain recognized in the Consolidated and Combined Condensed Statements of Operations: June 30, 2023 June 30, 2023 (In thousands) Cross currency swap agreements Interest expense and other, net $ (1,187) $ (2,388)
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: June 30, 2023 December 31, 2022 Designated as hedging instruments: Other Liabilities Other Assets Other Liabilities Other Assets (In thousands) Cross currency swap agreements $ 17,379 $ — $ 10,769 $ — Interest rate swap agreements — 16,858 — 14,342 Total $ 17,379 $ 16,858 $ 10,769 $ 14,342
Derivatives Not Designated as Hedging Instruments	The table below shows the fair value of derivative instruments not designated in a hedging relationship recognized in the Consolidated Balance Sheet: June 30, 2023 December 31, 2022 Not designated as hedging instruments Accrued Liabilities Other Current Assets Accrued Liabilities Other Current Assets (In thousands) Foreign currency contracts $ 1,058 $ 1,280 $ 2,166 $ 3,682
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 Six Months Ended Foreign currency contracts June 30, 2023 July 1, 2022 June 30, 2023 July 1, 2022 (In thousands) Change in unrealized gains (losses) $ (1,437) $ 1,376 $ (1,293) $ 190 Realized gain (loss) 238 (2,016) 1,265 (16,495) The above gains or losses on foreign currency contracts are usually offset by foreign exchange exposure on cash and intercompany positions, all of which are recognized in Interest expense and other, net, in the Consolidated and Combined Condensed Statements of Operations.

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	6 Months Ended
	Jun. 30, 2023
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: June 30, 2023 Level Level Level Total (In thousands) Assets: Cash equivalents $ 4,480 $ — $ — $ 4,480 Foreign currency contracts - not designated as hedges — 3,055 — 3,055 Interest rate swap agreements — 16,858 — 16,858 Deferred compensation plans — 3,206 — 3,206 $ 4,480 $ 23,119 $ — $ 27,599 Liabilities: Foreign currency contracts - not designated as hedges $ — $ 2,833 $ — $ 2,833 Cross currency swap agreements — 17,379 — 17,379 Deferred compensation plans — 3,206 — 3,206 $ — $ 23,418 $ — $ 23,418 December 31, 2022 Level Level Level Total (In thousands) Assets: Cash equivalents $ 8,195 $ — $ — $ 8,195 Foreign currency contracts - not designated as hedges — 3,682 — 3,682 Interest rate swap agreements — 14,342 — 14,342 Deferred compensation plans — 2,501 — 2,501 $ 8,195 $ 20,525 $ — $ 28,720 Liabilities: Foreign currency contracts - not designated as hedges $ — $ 2,166 $ — $ 2,166 Cross currency swap agreements — 10,769 — 10,769 Deferred compensation plans — 2,501 — 2,501 $ — $ 15,436 $ — $ 15,436

Equity (Tables)

Equity (Tables)	6 Months Ended
	Jun. 30, 2023
Equity [Abstract]
Schedule of Accumulated Other Comprehensive Loss	The following tables present the changes in the balances of each component of AOCI including reclassifications out of AOCI for the six months ended June 30, 2023 and July 1, 2022. 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 Net Investment Hedges Cash Flow Hedges Total (In thousands) Balance at December 31, 2022 $ (63,847) $ (613,907) $ (8,336) $ 11,102 $ (674,988) Other comprehensive income (loss) before reclassifications: Net actuarial loss (2) — — — (2) Foreign currency translation adjustment (108) 31,276 (2,086) — 29,082 Gain on long-term intra-entity foreign currency transactions — 12,501 — — 12,501 Unrealized loss on cash flow hedges — — — (2,051) (2,051) Other comprehensive (loss) income before reclassifications (110) 43,777 (2,086) (2,051) 39,530 Amounts reclassified from Accumulated other comprehensive loss (1)(2) 279 — — (1,530) (1,251) Net current period Other comprehensive (loss) income 169 43,777 (2,086) (3,581) 38,279 Balance at March 31, 2023 $ (63,678) $ (570,130) $ (10,422) $ 7,521 $ (636,709) Other comprehensive income (loss) before reclassifications: Net actuarial loss (2) — — — (2) Foreign currency translation adjustment (49) (6,381) (3,036) — (9,466) Gain on long-term intra-entity foreign currency transactions — 23,142 — — 23,142 Unrealized gain on cash flow hedges — — — 7,640 7,640 Other comprehensive income (loss) before reclassifications (51) 16,761 (3,036) 7,640 21,314 Amounts reclassified from Accumulated other comprehensive loss (1)(2) 889 — — (2,109) (1,220) Net current period Other comprehensive (loss) income 838 16,761 (3,036) 5,531 20,094 Balance at June 30, 2023 $ (62,840) $ (553,369) $ (13,458) $ 13,052 $ (616,615) (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. (2) During the three and six months ended June 30, 2023, the amount on this line within the Cash Flow Hedges column, is a component of Interest expense 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, 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 income (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 income (loss) (584) (98,789) (99,373) Balance at July 1, 2022 $ (71,008) $ (592,411) $ (663,419) (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.

Commitments and Contingencies (

Commitments and Contingencies (Tables)	6 Months Ended
	Jun. 30, 2023
Commitments and Contingencies Disclosure [Abstract]
Schedule of Loss Contingencies by Number of Claims	Asbestos-related claims activity since December 31 is as follows: Six Months Ended June 30, 2023 July 1, 2022 (Number of claims) Claims unresolved, beginning of period 14,106 14,559 Claims filed (1) 2,209 2,169 Claims resolved (2) (1,551) (1,790) Claims unresolved, end of period 14,764 14,938 (1) Claims filed include all asbestos claims for which notification have 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: June 30, 2023 December 31, 2022 (In thousands) Long-term asbestos insurance asset (1) $ 194,120 $ 215,112 Long-term asbestos insurance receivable (1) 18,610 17,231 Accrued asbestos liability (2) 29,168 30,108 Long-term asbestos liability (3) 204,968 230,581 (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)	6 Months Ended
	Jun. 30, 2023
Segment Reporting [Abstract]
Schedule of Segment Reporting Information, by Segment	The Com pany’s segment results were as follows: Three Months Ended Six Months Ended June 30, 2023 July 1, 2022 June 30, 2023 July 1, 2022 (In thousands) Net sales: Americas $ 310,278 $ 291,055 $ 601,847 $ 563,380 EMEA & APAC 410,144 370,122 802,575 745,708 $ 720,422 $ 661,177 $ 1,404,422 $ 1,309,088 Adjusted EBITDA (1) : Americas $ 58,263 $ 48,567 $ 107,705 $ 92,552 EMEA & APAC 73,810 61,940 142,357 127,222 $ 132,073 $ 110,507 $ 250,062 $ 219,774 (1) The following is a reconciliation of Net income from continuing operations to Adjusted EBITDA. Three Months Ended Six Months Ended June 30, 2023 July 1, 2022 June 30, 2023 July 1, 2022 (In thousands) Net income from continuing operations $ 68,846 $ 57,924 $ 102,975 $ 116,348 Income tax expense 20,974 20,047 57,998 45,793 Interest expense and other, net (1) 18,819 7,907 38,329 7,419 Restructuring and other related charges 5,169 4,649 14,613 9,953 Separation costs (2) — 3,460 — 7,089 Acquisition - amortization and other related charges (3) 9,252 7,627 18,541 15,307 Depreciation and other amortization 9,013 8,893 17,606 17,865 Adjusted EBITDA $ 132,073 $ 110,507 $ 250,062 $ 219,774 (1) Relates to removal of interest expense, net included within the Interest expense and other, net line within the Consolidated and Combined Condensed Statements of Operations. (2) Includes non-recurring charges and employee costs related to 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.

Organization and Basis of Pre_3

Organization and Basis of Presentation (Details) $ / shares in Units, $ in Thousands		3 Months Ended				6 Months Ended
	Apr. 04, 2022 USD ($) shares	Jun. 30, 2023 USD ($) $ / shares	Mar. 31, 2023 $ / shares	Jul. 01, 2022 USD ($) $ / shares	Apr. 01, 2022 USD ($)	Jun. 30, 2023 USD ($) segment	Jul. 01, 2022 USD ($)	Dec. 31, 2022 USD ($)	Nov. 30, 2022 shares
Concentration Risk [Line Items]
Number of reportable segments | segment						2
Quarterly cash dividend declared (in dollars per share) | $ / shares		$ 0.06	$ 0.05	$ 0.05
Payment of dividends						$ 6,061	$ 0
Net income		$ 65,573		$ 55,249		97,476	110,686
Cumulative translation loss		(1,506,309)				(1,506,309)		$ (1,350,207)
Research and development expense		9,500		$ 9,600		19,100	$ 19,100
Former Partner
Concentration Risk [Line Items]
Allocated expenses					$ 6,000
Foreign Currency Translation Adjustment
Concentration Risk [Line Items]
Cumulative translation loss		120,000				120,000
Enovis Corporation
Concentration Risk [Line Items]
Number of shares sold | shares									6,000,000
Russia
Concentration Risk [Line Items]
Net income		$ 4,000				$ 6,000
Russia | Assets | Geographic Concentration Risk
Concentration Risk [Line Items]
Concentration risk (as a percent)						4%
Russia | Revenue from Contract with Customer Benchmark | Geographic Concentration Risk
Concentration Risk [Line Items]
Concentration risk (as a percent)		6%
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

Discontinued Operations (Detail

Discontinued Operations (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jul. 01, 2022	Jun. 30, 2023	Jul. 01, 2022
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Loss from discontinued operations, net of taxes	$ (1,623)	$ (1,900)	$ (2,536)	$ (3,921)
Cash used in operating activities, discontinued operations	$ 4,400	9,100	9,700	13,700
Discontinued Operations	Discontinued OperationsThe 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 in connection with the Separation. The Company has classified asbestos-related activity included in its Consolidated and Combined Condensed Statements of Operations as part of Loss from discontinued operations, net of taxes. Loss from discontinued operations, net of taxes consists of Selling, general and administrative expenses of $2.1 million and $3.0 million , and a tax benefit of $0.5 million and $0.5 million for the three and six months ended June 30, 2023, respectively, and $2.3 million and $4.9 million, and a tax benefit of $0.4 million and $1.0 million for the three and six months ended July 1, 2022, respectively . S ee Note 13 “Commitments and Contingencies” for further information. Cas h used in operating activities related to discontinued operations for the three and six months ended June 30, 2023 was $4.4 million and $9.7 million, respectively, and was $9.1 million and $13.7 million for the three and s ix months ended July 1, 2022 , respectively.
Asbestos Related Activity
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Loss from discontinued operations, net of taxes	$ 2,100	2,300	3,000	4,900
Discontinued operations, tax benefit	$ 500	$ 400	$ 500	$ 1,000

Discontinued Operations (Deta_2

Discontinued Operations (Details)	3 Months Ended
	Jun. 30, 2023
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Discontinued Operations	Discontinued OperationsThe 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 in connection with the Separation. The Company has classified asbestos-related activity included in its Consolidated and Combined Condensed Statements of Operations as part of Loss from discontinued operations, net of taxes. Loss from discontinued operations, net of taxes consists of Selling, general and administrative expenses of $2.1 million and $3.0 million , and a tax benefit of $0.5 million and $0.5 million for the three and six months ended June 30, 2023, respectively, and $2.3 million and $4.9 million, and a tax benefit of $0.4 million and $1.0 million for the three and six months ended July 1, 2022, respectively . S ee Note 13 “Commitments and Contingencies” for further information. Cas h used in operating activities related to discontinued operations for the three and six months ended June 30, 2023 was $4.4 million and $9.7 million, respectively, and was $9.1 million and $13.7 million for the three and s ix months ended July 1, 2022 , respectively.

Acquisition (Details)

Acquisition (Details) $ in Millions	6 Months Ended
	Jun. 30, 2023 USD ($)
Therapy Equipment Limited
Business Acquisition [Line Items]
Consideration transferred for acquisition	$ 18.7

Revenue - Disaggregation of Rev

Revenue - Disaggregation of Revenue (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jul. 01, 2022	Jun. 30, 2023	Jul. 01, 2022
Disaggregation of Revenue [Line Items]
Total	$ 720,422	$ 661,177	$ 1,404,422	$ 1,309,088
Equipment
Disaggregation of Revenue [Line Items]
Total	226,049	190,574	426,268	378,922
Consumables
Disaggregation of Revenue [Line Items]
Total	$ 494,373	$ 470,603	$ 978,154	$ 930,166

Revenue - Narrative (Details)

Revenue - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jul. 01, 2022	Jun. 30, 2023	Jul. 01, 2022	Dec. 31, 2022	Dec. 31, 2021
Revenue [Abstract]
Contract liability					$ 25.9	$ 22.3
Revenue recognized, contract liability	$ 3.3	$ 5.3	$ 14.4	$ 14.4
Contract liability, one time advance payments	$ 28.2	$ 21.5	$ 28.2	$ 21.5

Revenue - Allowance for Credit

Revenue - Allowance for Credit Loss Rollforward (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2023 USD ($)
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Balance at Beginning of Period	$ 23,471
Charged to Expense, net	2,930
Write-Offs and Deductions	(948)
Foreign Currency Translation	392
Balance at End of Period	$ 25,845

Earnings per Share from Conti_3

Earnings per Share from Continuing Operations (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jul. 01, 2022	Jun. 30, 2023	Jul. 01, 2022
Computation of earnings per share from continuing operations – basic:
Income from continuing operations attributable to ESAB Corporation	$ 67,196	$ 57,149	$ 100,013	$ 114,607
Less: distributed and undistributed earnings allocated to nonvested shares	(500)	(372)	(737)	(742)
Net Income (Loss) Available to Common Stockholders	$ 66,696	$ 56,777	$ 99,276	$ 113,865
Weighted-average shares of common stock outstanding - basic (in shares)	60,237,955	60,038,053	60,192,152	60,036,182
Income per share from continuing operations – basic (in dollars per share)	$ 1.11	$ 0.95	$ 1.65	$ 1.90
Computation of earnings per share from continuing operations – diluted:
Net effect of potentially dilutive securities (in shares)	323,384	147,467	331,631	73,734
Weighted-average shares of common stock outstanding - assuming dilution (in shares)	60,561,339	60,185,520	60,523,783	60,109,916
Income per share from continuing operations – assuming dilution (in dollars per share)	$ 1.10	$ 0.94	$ 1.64	$ 1.89
Net income from continuing operations attributable to noncontrolling interest, net of taxes	$ 1,700	$ 800	$ 3,000	$ 1,700

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jul. 01, 2022	Jun. 30, 2023	Jul. 01, 2022
Income Tax Disclosure [Abstract]
Income from continuing operations before income taxes	$ 89,820	$ 77,971	$ 160,973	$ 162,141
Income tax expense	$ 20,974	$ 20,047	$ 57,998	$ 45,793
Effective tax rate (as a percent)	23.40%	25.70%	36%	28.20%
Undistributed foreign earnings, tax expense			$ 10,900
Increase in the net liability for uncertain tax positions			$ 9,400

Inventories, Net (Details)

Inventories, Net (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Inventory Disclosure [Abstract]
Raw materials	$ 168,351	$ 153,099
Work in process	49,455	44,086
Finished goods	279,568	261,902
Inventories, gross	497,374	459,087
LIFO reserve	(4,268)	(2,168)
Less: allowance for excess, slow-moving and obsolete inventory	(45,785)	(40,090)
Inventories, net	$ 447,321	$ 416,829
Percentage of inventory valued at LIFO	28.40%	31.50%

Accrued and Other Liabilities -

Accrued and Other Liabilities - Current and Noncurrent (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Current
Accrued taxes and deferred tax liabilities	$ 46,021	$ 49,615
Compensation and related benefits	77,751	74,794
Asbestos liability	29,168	30,108
Contract liability	$ 28,185	25,899
Operating Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration]	Total accrued and other liabilities, Current
Lease liability	$ 20,163	18,664
Warranty liability	13,559	12,946
Third-party commissions	13,174	18,315
Restructuring liability	7,177	7,533
Other	50,008	47,436
Total accrued and other liabilities, Current	285,206	285,310
Noncurrent
Accrued taxes and deferred tax liabilities	172,271	161,500
Compensation and related benefits	55,834	57,438
Asbestos liability	204,968	230,581
Contract liability	$ 0	0
Operating Lease, Liability, Noncurrent, Statement of Financial Position [Extensible Enumeration]	Total accrued and other liabilities, Noncurrent
Lease liability	$ 78,188	76,163
Warranty liability	0	0
Third-party commissions	0	0
Restructuring liability	47	285
Other	27,339	19,372
Total accrued and other liabilities, Noncurrent	$ 538,647	$ 545,339

Accrued and Other Liabilities_2

Accrued and Other Liabilities - Warranty Liability Rollforward (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2023	Jul. 01, 2022
Movement in Standard Product Warranty Accrual [Roll Forward]
Warranty liability, beginning of period	$ 12,946	$ 14,954
Accrued warranty expense	3,306	2,644
Changes in estimates related to pre-existing warranties	1,703	1,519
Cost of warranty service work performed	(5,832)	(4,508)
Acquisition-related liability	1,278	0
Foreign exchange translation effect	(158)	530
Warranty liability, end of period	$ 13,559	$ 14,079

Accrued and Other Liabilities_3

Accrued and Other Liabilities - Restructuring Rollforward (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jul. 01, 2022	Jun. 30, 2023	Jul. 01, 2022
Restructuring Reserve [Roll Forward]
Balance at Beginning of Period			$ 7,818
Charges			9,434
Payments			(10,188)
Foreign Currency Translation			160
Balance at End of Period	$ 7,224		7,224
Non-cash charges			5,179
Total	5,169	$ 4,649	14,613	$ 9,953
Termination benefits
Restructuring Reserve [Roll Forward]
Balance at Beginning of Period			4,910
Charges			4,612
Payments			(5,577)
Foreign Currency Translation			61
Balance at End of Period	4,006		4,006
Facility closure costs and other
Restructuring Reserve [Roll Forward]
Balance at Beginning of Period			2,908
Charges			4,822
Payments			(4,611)
Foreign Currency Translation			99
Balance at End of Period	$ 3,218		$ 3,218

Debt - Schedule of Long-Term De

Debt - Schedule of Long-Term Debt (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Debt Instrument [Line Items]
Long-term debt	$ 1,159,100	$ 1,218,643
Long-Term Debt, Gross	1,161,000	1,221,000
Debt Instrument, Unamortized Discount (Premium) and Debt Issuance Costs, Net	(1,900)	(2,357)
Long-term Debt	1,159,100	1,218,643
Term loans | The Credit Agreement | Line of Credit
Debt Instrument [Line Items]
Long-Term Debt, Gross	1,000,000	1,000,000
Revolving credit facilities | The Credit Agreement | Line of Credit
Debt Instrument [Line Items]
Long-Term Debt, Gross	$ 161,000	$ 221,000

Debt - Narrative (Details)

Debt - Narrative (Details)	Apr. 04, 2022 USD ($)	Jun. 30, 2024	Jun. 30, 2023 USD ($)
Debt Instrument [Line Items]
Deferred financing fees			$ 3,000,000
Letters of credit outstanding			28,200,000
Other Noncurrent Assets
Debt Instrument [Line Items]
Deferred financing fees			1,100,000
Long-Term Debt
Debt Instrument [Line Items]
Deferred financing fees			$ 1,900,000
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)			5.27%
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
Maximum step-down leverage ratio			3.75
Minimum interest coverage ratio			3
The Credit Agreement | Line of Credit | Scenario, Forecast
Debt Instrument [Line Items]
Maximum step-down leverage ratio		3.5
Revolving credit facilities | The Credit Agreement | Line of Credit
Debt Instrument [Line Items]
Aggregate principal amount	$ 750,000,000
Repayments of borrowings on revolving credit facility and other	200,000,000
Capacity for additional indebtedness			$ 589,000,000
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
Letter of Credit
Debt Instrument [Line Items]
Aggregate principal amount			111,100,000
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			$ 77,000,000
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	6 Months Ended
	Jun. 30, 2023 USD ($)	Jun. 30, 2023 EUR (€)	Dec. 31, 2022 USD ($)	Jul. 22, 2022 agreement	Jul. 14, 2022 USD ($) agreement
Cash Flow Hedging | Designated as hedging instruments
Derivatives, Fair Value [Line Items]
Notional amount					$ 600
Basis spread on variable rate (as a percent)					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
Basis spread on variable rate (as a percent)	1.25%	1.25%
Interest rate swap agreements | Cash Flow Hedging
Derivatives, Fair Value [Line Items]
Loss related to interest rate swap agreements	$ 9.6
Cross currency swap agreements
Derivatives, Fair Value [Line Items]
Number of derivative instruments held | agreement				2
Cross currency swap agreements | Not Designated as Hedging Instrument
Derivatives, Fair Value [Line Items]
Notional amount	195.9		$ 260
Cross currency swap agreements | Not Designated as Hedging Instrument | Accrued Liabilities
Derivatives, Fair Value [Line Items]
Derivative liability, current, increase impact due to gross basis recognition	1.8
Cross currency swap agreements | Not Designated as Hedging Instrument | Other Current Assets
Derivatives, Fair Value [Line Items]
Derivative asset, current, increase impact due to gross basis recognition	$ 1.8

Derivatives - Schedule of Deriv

Derivatives - Schedule of Derivative Instruments (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jul. 01, 2022	Jun. 30, 2023	Jul. 01, 2022
Interest rate swap agreements
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Realized loss	$ (1,187)		$ (2,388)
Interest rate swap agreements | Interest Expense (Income) and Other, Net
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), Reclassification, before Tax	(2,717)		(4,695)
Cross currency swap agreements | Not Designated as Hedging Instrument
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Realized loss	238	$ (2,016)	1,265	$ (16,495)
Change in unrealized gains (losses)	$ (1,437)	$ 1,376	$ (1,293)	$ 190

Derivatives - Derivatives Not D

Derivatives - Derivatives Not Designated as Hedging Instruments (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Derivative [Line Items]
Derivative Liability, Current, Statement of Financial Position [Extensible Enumeration]	Accrued liabilities
Derivative Asset, Current, Statement of Financial Position [Extensible Enumeration]	Other current assets
Foreign currency contracts | Not Designated as Hedging Instrument
Derivative [Line Items]
Derivative liability, current	$ 1,058	$ 2,166
Derivative asset, current	$ 1,280	$ 3,682

Derivatives - Schedule of Fair

Derivatives - Schedule of Fair Values of Derivative Instruments in the Financial Statements (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jul. 01, 2022	Jun. 30, 2023	Jul. 01, 2022	Dec. 31, 2022
Derivatives, Fair Value [Line Items]
Derivative assets	$ 16,858		$ 16,858		$ 14,342
Derivative liabilities	17,379		17,379		10,769
Cross currency swap agreements
Derivatives, Fair Value [Line Items]
Derivative assets	0		0		0
Derivative liabilities	17,379		17,379		10,769
Interest rate swap agreements
Derivatives, Fair Value [Line Items]
Derivative assets	16,858		16,858		14,342
Derivative liabilities	0		0		$ 0
Realized loss	(1,187)		(2,388)
Not Designated as Hedging Instrument | Cross currency swap agreements
Derivatives, Fair Value [Line Items]
Change in unrealized gains (losses)	(1,437)	$ 1,376	(1,293)	$ 190
Realized loss	$ 238	$ (2,016)	$ 1,265	$ (16,495)

Fair Value Measurements - Fair

Fair Value Measurements - Fair Value Hierarchy (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Assets:
Cash equivalents	$ 4,480	$ 8,195
Deferred compensation plans	3,206	2,501
Total assets at fair value	27,599	28,720
Liabilities:
Deferred compensation plans	3,206	2,501
Total liabilities at fair value	23,418	15,436
Cross currency swap agreements | Not Designated as Hedging Instrument
Assets:
Derivative assets	3,055	3,682
Liabilities:
Derivative liabilities	2,833	2,166
Cross currency swap agreements | Designated as hedging instruments
Liabilities:
Derivative liabilities	17,379	10,769
Interest rate swap agreements
Assets:
Derivative assets	16,858	14,342
Level One
Assets:
Cash equivalents	4,480	8,195
Deferred compensation plans	0	0
Total assets at fair value	4,480	8,195
Liabilities:
Deferred compensation plans	0	0
Total liabilities at fair value	0	0
Level One | Cross currency swap agreements | Not Designated as Hedging Instrument
Assets:
Derivative assets	0	0
Liabilities:
Derivative liabilities	0	0
Level One | Cross currency swap agreements | Designated as hedging instruments
Liabilities:
Derivative liabilities	0	0
Level One | Interest rate swap agreements
Assets:
Derivative assets	0	0
Level Two
Assets:
Cash equivalents	0	0
Deferred compensation plans	3,206	2,501
Total assets at fair value	23,119	20,525
Liabilities:
Deferred compensation plans	3,206	2,501
Total liabilities at fair value	23,418	15,436
Level Two | Cross currency swap agreements | Not Designated as Hedging Instrument
Assets:
Derivative assets	3,055	3,682
Liabilities:
Derivative liabilities	2,833	2,166
Level Two | Cross currency swap agreements | Designated as hedging instruments
Liabilities:
Derivative liabilities	17,379	10,769
Level Two | Interest rate swap agreements
Assets:
Derivative assets	16,858	14,342
Level Three
Assets:
Cash equivalents	0	0
Deferred compensation plans	0	0
Total assets at fair value	0	0
Liabilities:
Deferred compensation plans	0	0
Total liabilities at fair value	0	0
Level Three | Cross currency swap agreements | Not Designated as Hedging Instrument
Assets:
Derivative assets	0	0
Liabilities:
Derivative liabilities	0	0
Level Three | Cross currency swap agreements | Designated as hedging instruments
Liabilities:
Derivative liabilities	0	0
Level Three | Interest rate swap agreements
Assets:
Derivative assets	$ 0	$ 0

Equity (Details)

Equity (Details) - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2023	Mar. 31, 2023	Jul. 01, 2022	Apr. 01, 2022
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	$ 1,458,291	$ 1,388,458	$ 2,517,362	$ 2,501,728
Net actuarial loss	(2)	(2)
Foreign currency translation adjustment	(9,466)	29,082
Foreign currency translation adjustment	23,142	12,501
Unrealized gain on cash flow hedges	7,640	(2,051)
Foreign currency translation adjustment			(100,143)	(44,681)
Amounts reclassified from Accumulated other comprehensive loss			770	786
Other comprehensive (loss) income before reclassifications	21,314	39,530
Amounts reclassified from Accumulated other comprehensive loss	(1,220)	(1,251)
Amounts contributed by Former Parent				(59,263)
Net current period Other comprehensive (loss) income	20,094	38,279	(99,373)	(103,158)
Ending balance	1,546,725	1,458,291	1,281,403	2,517,362
Total
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	(636,709)	(674,988)	(564,046)	(460,888)
Ending balance	(616,615)	(636,709)	(663,419)	(564,046)
Net Unrecognized Pension and Other Post-Retirement Benefit Cost
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	(63,678)	(63,847)	(70,424)	(21,196)
Net actuarial loss	(2)	(2)
Foreign currency translation adjustment	(49)	(108)
Foreign currency translation adjustment	0	0
Unrealized gain on cash flow hedges	0	0
Foreign currency translation adjustment			(1,354)	490
Amounts reclassified from Accumulated other comprehensive loss			770	786
Other comprehensive (loss) income before reclassifications	51	110
Amounts reclassified from Accumulated other comprehensive loss	889	279
Amounts contributed by Former Parent				(50,504)
Net current period Other comprehensive (loss) income	838	169	(584)	(49,228)
Ending balance	(62,840)	(63,678)	(71,008)	(70,424)
Foreign Currency Translation Adjustment
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	(570,130)	(613,907)	(493,622)	(439,692)
Net actuarial loss	0	0
Foreign currency translation adjustment	(6,381)	31,276
Foreign currency translation adjustment	23,142	12,501
Unrealized gain on cash flow hedges	0	0
Foreign currency translation adjustment			(98,789)	(45,171)
Amounts reclassified from Accumulated other comprehensive loss			0	0
Other comprehensive (loss) income before reclassifications	(16,761)	(43,777)
Amounts reclassified from Accumulated other comprehensive loss	0	0
Amounts contributed by Former Parent				(8,759)
Net current period Other comprehensive (loss) income	16,761	43,777	(98,789)	(53,930)
Ending balance	(553,369)	(570,130)	(592,411)	$ (493,622)
Net Investment Hedges
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	(10,422)	(8,336)
Net actuarial loss	0		0
Foreign currency translation adjustment	(3,036)	(2,086)
Foreign currency translation adjustment	0	0
Unrealized gain on cash flow hedges	0	0
Other comprehensive (loss) income before reclassifications	3,036	2,086
Amounts reclassified from Accumulated other comprehensive loss	0	0
Net current period Other comprehensive (loss) income	(3,036)	(2,086)
Ending balance	(13,458)	(10,422)
Cash Flow Hedges
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	7,521	11,102
Net actuarial loss	0		$ 0
Foreign currency translation adjustment	0	0
Foreign currency translation adjustment	0	0
Unrealized gain on cash flow hedges	7,640	(2,051)
Other comprehensive (loss) income before reclassifications	(7,640)	2,051
Amounts reclassified from Accumulated other comprehensive loss	(2,109)	(1,530)
Net current period Other comprehensive (loss) income	5,531	(3,581)
Ending balance	$ 13,052	$ 7,521

Commitments and Contingencies -

Commitments and Contingencies - Narrative (Details)	6 Months Ended
	Jun. 30, 2023
Commitments and Contingencies Disclosure [Abstract]
Future claims period	15 years

Commitments and Contingencies_2

Commitments and Contingencies - Asbestos-Related Claims Activity (Details) - claim	6 Months Ended
	Jun. 30, 2023	Jul. 01, 2022
Loss Contingency Accrual [Roll Forward]
Claims unresolved, beginning of period	14,106	14,559
Claims filed	2,209	2,169
Claims resolved	(1,551)	(1,790)
Claims unresolved, end of period	14,764	14,938

Commitments and Contingencies_3

Commitments and Contingencies - Asbestos Litigation (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Commitments and Contingencies Disclosure [Abstract]
Long-term asbestos liability	$ 204,968	$ 230,581
Loss Contingency, Receivable, Current	194,120	215,112
Loss Contingency, Receivable, Noncurrent	18,610	17,231
Loss Contingency, Accrual, Current	29,168	30,108
Loss Contingency, Accrual, Noncurrent	$ 204,968	$ 230,581

Segment Information - Narrative

Segment Information - Narrative (Details)	6 Months Ended
	Jun. 30, 2023 segment
Segment Reporting [Abstract]
Number of reportable segments	2

Segment Information - Segment R

Segment Information - Segment Results (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jul. 01, 2022	Jun. 30, 2023	Jul. 01, 2022
Net sales	$ 720,422	$ 661,177	$ 1,404,422	$ 1,309,088
Adjusted EBITA	132,073	110,507	250,062	219,774
Net income from continuing operations	68,846	57,924	102,975	116,348
Income tax expense	20,974	20,047	57,998	45,793
Interest expense (income) and other, net	18,819	7,907	38,329	7,419
Restructuring and other related charges	5,169	4,649	14,613	9,953
Separation costs	0	3,460	0	7,089
Acquisition - amortization and other related charges	9,252	7,627	18,541	15,307
Depreciation and other amortization	9,013	8,893	17,606	17,865
Americas Segment
Net sales	310,278	291,055	601,847	563,380
Adjusted EBITA	58,263	48,567	107,705	92,552
EMEA and APAC Segment
Net sales	410,144	370,122	802,575	745,708
Adjusted EBITA	$ 73,810	$ 61,940	$ 142,357	$ 127,222

Related Party Transactions (Det

Related Party Transactions (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jul. 01, 2022	Jun. 30, 2023	Jul. 01, 2022
Related Party Transaction [Line Items]
Allocated expenses	$ 150,115	$ 136,945	$ 297,397	$ 272,358
Related Party
Related Party Transaction [Line Items]
Allocated expenses		$ 6,000

Subsequent Events (Details)

Subsequent Events (Details) $ in Millions	Jun. 30, 2023 USD ($)
Subsequent Events [Abstract]
Dividends payable included in accrued liabilities	$ 3.6