ESAB (ESAB) 10-Q 2 Aug 24 2024 Q2 Quarterly report Financial data

COVER PAGE

COVER PAGE - shares	6 Months Ended
	Jun. 28, 2024	Jul. 25, 2024
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 28, 2024
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	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		60,440,753
Entity Central Index Key	0001877322
Current Fiscal Year End Date	--12-31
Amendment Flag	false
Document Fiscal Period Focus	Q2
Document Fiscal Year Focus	2024

CONSOLIDATED AND COMBINED CONDE

CONSOLIDATED AND COMBINED CONDENSED STATEMENTS OF OPERATIONS - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 28, 2024	Jun. 30, 2023	Jun. 28, 2024	Jun. 30, 2023
Income Statement [Abstract]
Net sales	$ 707,053	$ 720,422	$ 1,396,797	$ 1,404,422
Cost of sales	436,738	456,499	871,455	893,110
Gross profit	270,315	263,923	525,342	511,312
Selling, general and administrative expense	146,187	150,115	288,637	297,397
Restructuring and other related charges	4,773	5,169	6,697	14,613
Operating income	119,355	108,639	230,008	199,302
Pension settlement loss	0	0	12,155	0
Interest expense and other, net	15,940	18,819	33,031	38,329
Income from continuing operations before income taxes	103,415	89,820	184,822	160,973
Income tax expense	17,885	20,974	36,389	57,998
Net income from continuing operations	85,530	68,846	148,433	102,975
Loss from discontinued operations, net of taxes	(1,161)	(1,623)	(2,470)	(2,536)
Net income	84,369	67,223	145,963	100,439
Income attributable to noncontrolling interest, net of taxes	(1,462)	(1,650)	(3,105)	(2,963)
Net income attributable to ESAB Corporation	$ 82,907	$ 65,573	$ 142,858	$ 97,476
Earnings (loss) per share – basic
Income from continuing operations (in dollars per share)	$ 1.38	$ 1.11	$ 2.39	$ 1.65
Loss on discontinued operations (in dollars per share)	(0.02)	(0.03)	(0.04)	(0.04)
Net income per share (in dollars per share)	1.36	1.08	2.35	1.61
Earnings (loss) per share – diluted
Income from continuing operations (in dollars per share)	1.37	1.10	2.37	1.64
Loss on discontinued operations (in dollars per share)	(0.02)	(0.03)	(0.04)	(0.04)
Net income per share - diluted (in dollars per share)	$ 1.35	$ 1.07	$ 2.33	$ 1.60

CONSOLIDATED AND COMBINED CON_2

CONSOLIDATED AND COMBINED CONDENSED STATEMENTS OF COMPREHENSIVE (LOSS) INCOME - USD ($) $ in Thousands	3 Months Ended				6 Months Ended
	Jun. 28, 2024	Mar. 29, 2024	Jun. 30, 2023	Mar. 31, 2023	Jun. 28, 2024	Jun. 30, 2023
Statement of Comprehensive Income [Abstract]
Net income	$ 84,369	$ 61,594	$ 67,223	$ 33,216	$ 145,963	$ 100,439
Other comprehensive (loss) income:
Foreign currency translation, net of tax expense (benefit) of $416, $(483), $1,947 and $(438)	(14,557)		13,736		(39,911)	55,820
Unrealized (loss) income on derivatives designated and qualifying as cash flow hedges, net of tax (benefit) expense of $(539), $1,611, $(244) and $566	(1,851)		5,531		(838)	1,950
Defined benefit pension and other post-retirement plan activity, net of tax expense of $44, $65, $247 and $131	327		887		956	1,164
Other comprehensive (loss) income	(16,081)	$ (23,712)	20,154	$ 38,780	(39,793)	58,934
Comprehensive income	68,288		87,377		106,170	159,373
Comprehensive income attributable to noncontrolling interest	1,093		1,710		2,413	3,524
Comprehensive income attributable to ESAB Corporation	$ 67,195		$ 85,667		$ 103,757	$ 155,849

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. 28, 2024	Jun. 30, 2023	Jun. 28, 2024	Jun. 30, 2023
Statement of Comprehensive Income [Abstract]
Unrealized gain on hedging activities, tax expense	$ (539)	$ 1,611	$ (244)	$ 566
Defined benefit pension and other post-retirement plan activity, tax expense	(44)	65	(247)	(131)
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest	84,369	67,223	145,963	100,439
Foreign currency translation adjustment	(14,557)	13,736	(39,911)	55,820
Unrealized (loss) income on derivatives designated and qualifying as cash flow hedges, net of tax (benefit) expense of $(539), $1,611, $(244) and $566	(1,851)	5,531	(838)	1,950
Other Comprehensive (Income) Loss, Defined Benefit Plan, after Reclassification Adjustment, after Tax	327	887	956	1,164
Other comprehensive income (loss), net of tax (expense) benefit	(16,081)	20,154	(39,793)	58,934
Comprehensive Income (Loss), Net of Tax, Including Portion Attributable to Noncontrolling Interest	68,288	87,377	106,170	159,373
Comprehensive income attributable to noncontrolling interest	1,093	1,710	2,413	3,524
Comprehensive Income (Loss), Net of Tax, Attributable to Parent	67,195	85,667	103,757	155,849
Foreign currency translation, tax expense (benefit)	$ 416	$ (483)	$ 1,947	$ (438)

CONSOLIDATED AND COMBINED CON_4

CONSOLIDATED AND COMBINED CONDENSED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 28, 2024	Dec. 31, 2023
CURRENT ASSETS:
Cash and cash equivalents	$ 228,470	$ 102,003
Trade receivables, less allowance for credit losses of $25,372 and $25,477	431,207	385,198
Inventories, net	426,520	392,858
Prepaid expenses	62,879	61,771
Other current assets	63,477	55,890
Total current assets	1,212,553	997,720
Property, plant and equipment, net	287,195	294,305
Goodwill	1,583,888	1,588,331
Intangible assets, net	476,510	499,535
Lease assets - right of use	89,743	95,607
Other assets	317,222	353,131
Total assets	3,967,111	3,828,629
CURRENT LIABILITIES:
Accounts payable	350,125	306,593
Accrued liabilities	300,971	313,489
Total current liabilities	651,096	620,082
Long-term debt	1,079,624	1,018,057
Other liabilities	486,966	542,833
Total liabilities	2,217,686	2,180,972
Equity:
Common stock - $0.001 par value - 600,000,000 shares authorized, $60,438,838 and 60,295,634 shares outstanding as of June 28, 2024 and December 31, 2023, respectively	60	60
Additional paid-in capital	1,886,367	1,881,054
Retained earnings	484,918	350,557
Accumulated other comprehensive loss	(663,373)	(624,272)
Total ESAB Corporation equity	1,707,972	1,607,399
Noncontrolling interest	41,453	40,258
Total equity	1,749,425	1,647,657
Total liabilities and equity	$ 3,967,111	$ 3,828,629

CONSOLIDATED AND COMBINED CON_5

CONSOLIDATED AND COMBINED CONDENSED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Jun. 28, 2024	Dec. 31, 2023
Statement of Financial Position [Abstract]
Trade receivables, allowance for doubtful accounts	$ 25,372	$ 25,477
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)	60,438,838	60,295,634

CONSOLIDATED AND COMBINED CON_6

CONSOLIDATED AND COMBINED CONDENSED STATEMENTS OF EQUITY - USD ($) $ in Thousands	Total	Common Stock	Additional Paid in Capital	Retained Earnings	Accumulated Other Comprehensive Loss	Noncontrolling Interest
Beginning balance (in shares) at Dec. 31, 2022		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
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Other comprehensive income (loss), tax expense (benefit)	$ 934
Quarterly cash dividend declared (in dollars per share)	$ 0.05
Beginning balance (in shares) at Dec. 31, 2022		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
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
Ending balance at Jun. 30, 2023	1,546,725	$ 60	1,872,834	250,030	(616,615)	40,416
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Other comprehensive income (loss), tax expense (benefit)	$ 1,193
Quarterly cash dividend declared (in dollars per share)	$ 0.06
Beginning balance (in shares) at Dec. 31, 2023	60,295,634	60,295,634
Beginning balance at Dec. 31, 2023	$ 1,647,657	$ 60	1,881,054	350,557	(624,272)	40,258
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	61,594			59,951		1,643
Dividends declared	(3,641)			(3,641)
Other comprehensive income (loss), net of tax (expense) benefit	(23,712)				(23,389)	(323)
Common stock-based award activity (in shares)		128,787
Common stock-based award activity	480		480
Ending balance (in shares) at Mar. 29, 2024		60,424,421
Ending balance at Mar. 29, 2024	1,682,378	$ 60	1,881,534	406,867	(647,661)	41,578
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Other comprehensive income (loss), tax expense (benefit)	$ 2,029
Quarterly cash dividend declared (in dollars per share)	$ 0.06
Beginning balance (in shares) at Dec. 31, 2023	60,295,634	60,295,634
Beginning balance at Dec. 31, 2023	$ 1,647,657	$ 60	1,881,054	350,557	(624,272)	40,258
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	145,963
Other comprehensive income (loss), net of tax (expense) benefit	$ (39,793)
Ending balance (in shares) at Jun. 28, 2024	60,438,838	60,438,838
Ending balance at Jun. 28, 2024	$ 1,749,425	$ 60	1,886,367	484,918	(663,373)	41,453
Beginning balance (in shares) at Mar. 29, 2024		60,424,421
Beginning balance at Mar. 29, 2024	1,682,378	$ 60	1,881,534	406,867	(647,661)	41,578
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	84,369			82,907		1,462
Distributions to noncontrolling owners	(1,218)					(1,218)
Dividends declared	(4,856)			(4,856)
Other comprehensive income (loss), net of tax (expense) benefit	(16,081)				(15,712)	(369)
Common stock-based award activity (in shares)		14,417
Common stock-based award activity	$ 4,833		4,833
Ending balance (in shares) at Jun. 28, 2024	60,438,838	60,438,838
Ending balance at Jun. 28, 2024	$ 1,749,425	$ 60	$ 1,886,367	$ 484,918	$ (663,373)	$ 41,453
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Other comprehensive income (loss), tax expense (benefit)	$ 79
Quarterly cash dividend declared (in dollars per share)	$ 0.08

CONSOLIDATED AND COMBINED CON_7

CONSOLIDATED AND COMBINED CONDENSED STATEMENTS OF EQUITY (Parenthetical) - USD ($) $ in Thousands	3 Months Ended
	Jun. 28, 2024	Mar. 29, 2024	Jun. 30, 2023	Mar. 31, 2023
Statement of Stockholders' Equity [Abstract]
Dividends on common stock (in dollars per share)	$ 0.08	$ 0.06	$ 0.06	$ 0.05
Other comprehensive income (loss), tax expense (benefit)	$ 79	$ 2,029	$ 1,193	$ 934

CONSOLIDATED AND COMBINED CON_8

CONSOLIDATED AND COMBINED CONDENSED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	6 Months Ended
	Jun. 28, 2024	Jun. 30, 2023
Cash flows from operating activities:
Net income	$ 145,963	$ 100,439
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation, amortization and other impairment charges	32,930	39,561
Stock-based compensation expense	9,886	7,462
Deferred income tax	1,760	998
Non-cash interest expense	1,632	597
Pension settlement loss	12,155	0
Changes in operating assets and liabilities:
Trade receivables, net	(56,680)	(28,942)
Inventories, net	(42,144)	(24,733)
Accounts payable	53,574	3,267
Other operating assets and liabilities	(31,593)	2,072
Net cash provided by operating activities	127,483	100,721
Cash flows from investing activities:
Purchases of property, plant and equipment	(16,437)	(16,999)
Proceeds from sale of property, plant and equipment	608	1,936
Acquisition, net of cash received	(18,050)	(18,235)
Other investing	(3,059)	0
Net cash used in investing activities	(36,938)	(33,298)
Cash flows from financing activities:
Proceeds from borrowings on Senior Notes	700,000	0
205000000	205,000	280,000
Repayments of borrowings on Term Loans	(597,500)	0
Repayments of borrowings on revolving credit facilities and other	(237,005)	(340,537)
Payment of debt issuance costs and other	(15,718)	0
Payment of dividends	(7,278)	(6,061)
Distributions to noncontrolling interest holders	(1,218)	(1,274)
Net cash provided by (used in) financing activities	46,281	(67,872)
Effect of foreign exchange rates on Cash and cash equivalents	(10,359)	2,874
Increase in Cash and cash equivalents	126,467	2,425
Cash and cash equivalents, beginning of period	102,003	72,024
Cash and cash equivalents, end of period	$ 228,470	$ 74,449

Organization and Basis of Prese

Organization and Basis of Presentation	6 Months Ended
	Jun. 28, 2024
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 focused premier industrial compounder. ESAB provides its partners with fabrication technology 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”) enables the Company’s purpose of Shaping the world we imagine TM . 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. On April 4, 2022, ESAB Corporation completed its spin-off from Colfax Corporation (“Colfax,” “Enovis” or “Former Parent”) and became an independent, public-traded company (the “Separation”). 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 2024 and 2023 refer to the 13-week periods ended June 28, 2024 and June 30, 2023, respectively. 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 28, 2024, Russia represented approximately 6% and 5% of the Company’s total revenue, respectively, and approximately $5 million and $10 million of its Net income, respectively. Russia also has approximately 5% of the Company’s total net assets excluding any goodwill allocation as of June 28, 2024. In case of a 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 $113 million as of June 28, 2024, 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 The Consolidated and Condensed Financial Statements included herein have been prepared by the Company pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”). Certain information and footnote disclosures normally included in the financial statements prepared in accordance with the accounting principles generally accepted in the United States (“U.S. GAAP”) have been condensed or omitted pursuant to SEC rules and regulations; however the Company believes that the disclosures are adequate to make the information presented not misleading. The Consolidated and 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 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 Condensed Statements of Operations. Research and development costs were $9.7 million and $19.8 million during the three and six months ended June 28, 2024, respectively, and $9.5 million and $19.1 million during the three and six months ended June 30, 2023, 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. The Company expects to continue making significant expenditures for research and development to maintain and improve its competitive positions. The accompanying interim Consolidated and Condensed Financial Statements and the related notes should be read in conjunction with the Company’s Annual Report on Form 10-K for the year ended December 31, 2023 (the “2023 Form 10-K”), filed with the SEC on February 29, 2024.

Discontinued Operations

Discontinued Operations	3 Months Ended
	Jun. 28, 2024
Discontinued Operations and Disposal Groups [Abstract]
Discontinued Operations	Discontinued Operations The Company holds certain asbestos-related contingencies and insurance coverages from divested businesses for which it does not have an interest in the ongoing operations. The Company has classified asbestos-related activity in its Consolidated and Condensed Statements of Operations as part of Loss from discontinued operations, net of taxes. This activity consists primarily of expected settlements, legal and administrative expenses associated with the above liabilities. Loss from discontinued operations, net of taxes was $1.2 million and $2.5 million for the three and six months ended June 28, 2024, respectively, and $1.6 million and $2.5 million for the three and six months ended June 30, 2023, respectively. S ee Note 14, “Commitments and Contingencies” for further information. Cas h used in operating activities related to discontinued operations for the three and six months ended June 28, 2024 was $4.8 million and $8.5 million, respectively, and for the three and six months ended June 30, 2023 it was $4.4 million and $9.7 million , respectively.

Acquisition

Acquisition	6 Months Ended
	Jun. 28, 2024
Business Combinations [Abstract]
Acquisition	Acquisitions On April 30, 2024, the Company reached an agreement to acquire SUMIG Soluções para Solda e Corte Ltda, a South American light automation and equipment business for approximately $74 million of cash consideration. This acquisition is expected to be completed during the second half of 2024, subject to the receipt of applicable regulatory approvals and customary closing conditions. On February 26, 2024, the Company completed the acquisition of Sager S.A., a welding repair and maintenance product and service leader in South America, for $18.1 million, net of cash received. On 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. 28, 2024
Revenue from Contract with Customer [Abstract]
Revenue	Revenue The Company provides fabrication technology 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. 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 28, 2024 June 30, 2023 June 28, 2024 June 30, 2023 (In thousands) Equipment $ 231,659 $ 226,049 $ 446,518 $ 426,268 Consumables 475,394 494,373 950,279 978,154 Total $ 707,053 $ 720,422 $ 1,396,797 $ 1,404,422 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 28, 2024 is immaterial. In some circumstances, customers are billed in advance of revenue recognition, resulting in contract liabilities. As of December 31, 2023 and December 31, 2022, total contract liabilities were $31.2 million and $25.9 million, respectively, and were included in Accrued liabilities on the Consolidated and Condensed Balance Sheets. During the three and six months ended June 28, 2024, revenue recognized that was included in the contract liabilities balance at the beginning of the year was $5.1 million and $21.3 million, respectively. During the three and six months ended June 30, 2023, revenue recognized that was included in the contract liabilities balance at the beginning of the year was $3.3 million and $14.4 million, respectively. As of June 28, 2024 and June 30, 2023, total contract liabilities were $27.9 million and $28.2 million, respectively. 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 28, 2024 Balance at Charged to Expense, net Write-Offs and Deductions Foreign Balance at (In thousands) Allowance for credit losses $ 25,477 $ 1,801 $ (1,229) $ (677) $ 25,372

Earnings per Share from Continu

Earnings per Share from Continuing Operations	6 Months Ended
	Jun. 28, 2024
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 28, 2024 June 30, 2023 June 28, 2024 June 30, 2023 (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) $ 84,068 $ 67,196 $ 145,328 $ 100,013 Less: distributed and undistributed earnings allocated to nonvested shares (382) (500) (747) (737) Income from continuing operations attributable to common stockholders $ 83,686 $ 66,696 $ 144,581 $ 99,276 Weighted-average shares of Common stock outstanding – basic 60,432,230 60,237,955 60,389,176 60,192,152 Income per share from continuing operations – basic $ 1.38 $ 1.11 $ 2.39 $ 1.65 Computation of earnings per share from continuing operations – diluted: Income from continuing operations attributable to common stockholders $ 83,686 $ 66,696 $ 144,581 $ 99,276 Weighted-average shares of Common stock outstanding – basic 60,432,230 60,237,955 60,389,176 60,192,152 Net effect of potentially dilutive securities (2) 646,226 323,384 644,031 331,631 Weighted-average shares of Common stock outstanding – dilution 61,078,456 60,561,339 61,033,207 60,523,783 Net income per share from continuing operations – diluted $ 1.37 $ 1.10 $ 2.37 $ 1.64 (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 $1.5 million and $3.1 million for the three and six months ended June 28, 2024, respectively, and $1.7 million and $3.0 million for the three and six months ended June 30, 2023, respectively. (2) Potentially dilutive securities include stock options, performance-based restricted stock units and non-performance-based restricted stock units.

Income Taxes

Income Taxes	6 Months Ended
	Jun. 28, 2024
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes During the three and six months ended June 28, 2024, Income from continuing operations before income taxes was $103.4 million and $184.8 million, respectively, while Income tax expense was $17.9 million and $36.4 million, respectively. The effective tax rate was 17.3% and 19.7% for the three and six months ended June 28, 2024, respectively. The effective tax rate differed from the 2024 U.S. federal statutory rate of 21.0% primarily due to a favorable final ruling in a tax case in a foreign jurisdiction. 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 rate differed from the 2023 U.S. federal statutory rate of 21.0% primarily due to discrete tax expenses in 2023 for dividend withholding taxes and an increase in the liability for uncertain tax positions. During the six months ended June 30, 2023, the Company recorded total tax expense of $10.9 million relating to a change in its indefinite reinvestment assertion on certain foreign undistributed earnings. Additionally, the Company increased the net liability for uncertain tax positions by $9.4 million primarily relating to an adverse court ruling in a tax case in a foreign jurisdiction. During the three months ended June 28, 2024, a favorable final ruling in a tax case in a foreign jurisdiction was decided and the Company released the related liability for uncertain tax positions for a net tax benefit of $7.9 million. As a result of the release in the uncertain tax position for the period ending June 28, 2024, the ending unrecognized tax balance decreased by $17.7 million.

Inventories, Net

Inventories, Net	6 Months Ended
	Jun. 28, 2024
Inventory Disclosure [Abstract]
Inventories, Net	Inventories, Net Inventories, net consisted of the following: June 28, 2024 December 31, 2023 (In thousands) Raw materials $ 161,063 $ 156,583 Work in process 48,190 43,561 Finished goods 266,590 244,580 475,843 444,724 LIFO reserve (4,980) (4,279) Allowance for excess, slow-moving and obsolete inventory (44,343) (47,587) $ 426,520 $ 392,858 At June 28, 2024 and December 31, 2023 , 24.6% a nd 27.4% of total inventories, respectively, were valued using the last-in, first-out (“LIFO”) method.

Accrued and Other Liabilities

Accrued and Other Liabilities	6 Months Ended
	Jun. 28, 2024
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 28, 2024 December 31, 2023 Current Noncurrent Current Noncurrent (In thousands) Accrued taxes and deferred tax liabilities $ 45,368 $ 129,591 $ 45,681 $ 144,662 Compensation and related benefits 74,033 50,230 97,052 52,589 Asbestos liability 35,254 211,970 32,908 234,796 Contract liabilities 27,862 — 31,248 — Lease liabilities 22,334 70,189 22,794 76,609 Warranty liability 14,546 — 12,606 — Third-party commissions 14,155 — 18,711 — Restructuring liability 6,379 207 5,345 354 Other 61,040 24,779 47,144 33,823 $ 300,971 $ 486,966 $ 313,489 $ 542,833 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 28, 2024 June 30, 2023 (In thousands) Warranty liability, beginning of period $ 12,606 $ 12,946 Accrued warranty expense 6,693 3,306 Changes in estimates related to pre-existing warranties 1,074 1,703 Cost of warranty service work performed (5,529) (5,832) Foreign exchange translation effect (298) 1,436 Warranty liability, end of period $ 14,546 $ 13,559 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 and Other liabilities in the Consolidated and Condensed Balance Sheets is as follows: Six Months Ended June 28, 2024 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) $ 4,595 $ 4,620 $ (3,218) $ (10) $ 5,987 Facility closure costs and other (2) 1,104 2,077 (2,161) (421) 599 Total $ 5,699 $ 6,697 $ (5,379) $ (431) $ 6,586 (1) Includes severance and other termination benefits, including outplacement services. (2)

Benefit Plans

Benefit Plans	6 Months Ended
	Jun. 28, 2024
Retirement Benefits [Abstract]
Benefit Plans	Benefit Plans The Company sponsors various defined benefit plans and other post-retirement benefits plans, including health and life insurance, for certain eligible employees or former employees. During the six months ended June 28, 2024, the Company recognized a non-cash pension settlement loss of $12.2 million related to the transfer of plan assets to a third party as part of externalizing the risk associated with a foreign defined benefit plan. This amount is reflected in Pension settlement loss in the Consolidated and Condensed Statements of Operations.

Debt

Debt	6 Months Ended
	Jun. 28, 2024
Debt Disclosure [Abstract]
Debt	Debt Long-term debt consisted of the following: June 28, 2024 December 31, 2023 (In thousands) Term loans $ 390,000 $ 987,500 Senior unsecured notes 700,000 — Revolving credit facilities — 32,000 Total debt 1,090,000 1,019,500 Unamortized deferred financing fees (10,376) (1,443) Long-term debt $ 1,079,624 $ 1,018,057 Senior Notes, 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 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 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 the Credit Agreement (“Credit Agreement Amendment”). The Credit Agreement Amendment provides for a $600 million term loan facility (the “Term Loan A-3 Facility”) 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. On April 9, 2024, the Company issued a $700.0 million in aggregate principal amount of 6.25% senior notes due 2029 (the “Senior Notes”). The Senior Notes have a contractual interest rate of 6.25% and maturity date of April 15, 2029. The Company used the net proceeds from the Senior Notes offering to pay off its Term Loan A-3 Facility and pay fees associated with the offering. As of June 28, 2024, the Company’s long-term Debt consisted of the following facilities: • A $750 million Revolving Facility with a maturity date of April 4, 2027, with zero dollars drawn; • A Term Loan A-1 Facility with an aggregate principal amount of $390 million with a maturity date of April 4, 2027; and • Senior Notes with an aggregate principal amount of $700 million with a maturity date of April 15, 2029. 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 United States 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 (consolidated total debt divided by EBITDA, as defined in the credit agreement and 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. Refer to Note 11, “Derivatives” for additional information. As of June 28, 2024, the weighted-average interest rate of borrowings under the Credit Agreement and Senior Notes was 5.13%, including the net impact from the interest rate and cross currency swaps and excluding accretion of deferred financing fees, and there was $750 million of borrowing capacity available under the Revolving Facility, subject to the Company meeting financial covenants and other requirements. Other Indebtedness In addition to the debt agreements discussed above, the Company also has the ability to incur approximately $50 million of indebtedness pursuant to certain uncommitted credit lines, consisting of an uncommitted credit line 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 $108.6 million. Total letters of credit of $27.9 million were outstanding as of June 28, 2024. Deferred Financing Fees The Company had total deferred financing fees of $11.2 million included in its Consolidated and Condensed Balance Sheets as of June 28, 2024, which will be charged to Interest expense and other, net, over the term of the related debt instruments. The costs associated with the Term Facilities will be amortized over the contractual term of the Term Facilities, the costs associated with the Revolving Facility will be amortized over the life of the Credit Agreement and the costs associated with the Senior Notes will be amortized over the life of the Note. Of the $11.2 million, $0.8 million of deferred financing fees relating to the Revolving Facility are included in Other assets and $10.4 million of deferred financing fees relating to the Term Facilities and Senior Notes are recorded as a contra-liability within long-term debt.

Derivatives

Derivatives	6 Months Ended
	Jun. 28, 2024
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 28, 2024. 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 was $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. In March 2024, the Company settled one of the interest rate swaps associated with the Company’s floating-rate debt and received $5.5 million in connection with that settlement. The termination of the interest rate swap was related to the repayment of the Term A-3 Facility in April 2024. Refer to Note 10, “Debt” for further information. As this interest rate swap was designated as a cash flow hedge, $5.5 million was deferred in accumulated other comprehensive income (loss) (“AOCI”) and will be recognized in earnings over the period the originally forecasted hedged transaction impacts earnings. The remaining $300 million swap is expected to continue to be hedged against the remaining floating-rate debt. For the remaining swap, the spread was 1.250% as of June 28, 2024. This agreement involves 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. This interest rate swap agreement is designated and qualifies 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 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 the cash flow hedges during the six months ended June 28, 2024 . The cash inflows and outflows associated with the Company’s interest rate swap agreement designated as cash flow hedges are classified in cash flows from operating activities in the accompanying Consolidated and Condensed Statements of Cash Flows. The Company expects a gain of $3.4 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 28, 2024. The effects of designated cash flow hedges on the Company’s Consolidated and Condensed Statements of Operations consisted of the following: Three Months Ended Six Months Ended Derivative Type (Gain) Recognized in the Consolidated and Condensed Statements of Operations: June 28, 2024 June 30, 2023 June 28, 2024 June 30, 2023 (In thousands) Interest rate swap agreements Interest expense and other, net $ (3,049) $ (2,717) $ (5,770) $ (4,695) Net Investment Hedges On July 22, 2022, the Company entered into two cross-currency swap agreements, set to mature in April 2025, 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. 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. Prior to the maturity of these two cross-currency swaps, on June 25, 2024 the Company de-designated these swaps and entered into four new cross-currency swaps for the same above notional amounts that mature in October 2026. These swaps are designated and accounted for as a net investment hedge. 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 Condensed Statements 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. Due to the de-designation transaction above on June 25, 2024, the Company will keep the balance in AOCI related to the original derivative for the duration that the investment is held. The Com pany did not have any ineffectiveness related to net investment hedges during the six months ended June 28, 2024 . 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 Condensed Statements of Cash Flows. The effects of the excluded components of designated net investment hedges on the Company’s Consolidated and Condensed Statements of Operations consisted of the following: Three Months Ended Six Months Ended Derivative Type (Gain) Recognized in the Consolidated and Condensed Statements of Operations: June 28, 2024 June 30, 2023 June 28, 2024 June 30, 2023 (In thousands) Cross currency swap agreements Interest expense and other, net $ (1,175) $ (1,187) $ (2,354) $ (2,388) The table below shows the fair value of the derivatives recognized in the Consolidated and Condensed Balance Sheets: June 28, 2024 December 31, 2023 Designated as Hedging Instruments Other Liabilities Other Assets Other Liabilities Other Assets (In thousands) Cross currency swap agreements $ 15,054 $ — $ 22,232 $ — Interest rate swap agreements — 4,215 — 9,522 Total $ 15,054 $ 4,215 $ 22,232 $ 9,522 Derivatives Not Designated as Hedging Instruments The Company has certain foreign currency contracts that are not designated as hedges. As of June 28, 2024 and December 31, 2023, the Company had foreign currency contracts related to purchases and sales with notional values of $258.5 million and $232.5 million, respectively. The table below shows the fair value of derivative instruments not designated in a hedging relationship recognized in the Consolidated and Condensed Balance Sheets: June 28, 2024 December 31, 2023 Not designated as hedging instruments Accrued Liabilities Other Current Assets Accrued Liabilities Other Current Assets (In thousands) Foreign currency contracts $ 1,227 $ 2,348 $ 596 $ 1,088 The amounts in the table above as of June 28, 2024 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 $1.3 million increase in Other current assets with a corresponding increase in Accrued liabilities. The Company recognized the following in its Consolidated and Condensed Financial Statements related to its derivative instruments not designated in a hedging relationship: Three Months Ended Six Months Ended Foreign currency contracts June 28, 2024 June 30, 2023 June 28, 2024 June 30, 2023 (In thousands) Change in unrealized gains (losses) $ 678 $ (1,437) $ 629 $ (1,293) Realized gains 2,542 238 378 1,265 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 Condensed Statements of Operations.

Fair Value Measurements

Fair Value Measurements	6 Months Ended
	Jun. 28, 2024
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 28, 2024 Level Level Level Total (In thousands) Assets: Cash equivalents $ 7,168 $ — $ — $ 7,168 Foreign currency contracts - not designated as hedges — 3,649 — 3,649 Interest rate swap agreements — 4,215 — 4,215 Deferred compensation plans — 4,532 — 4,532 $ 7,168 $ 12,396 $ — $ 19,564 Liabilities: Foreign currency contracts - not designated as hedges $ — $ 2,528 $ — $ 2,528 Cross currency swap agreements — 15,054 — 15,054 Deferred compensation plans — 4,532 — 4,532 $ — $ 22,114 $ — $ 22,114 December 31, 2023 Level Level Level Total (In thousands) Assets: Cash equivalents $ 6,027 $ — $ — $ 6,027 Foreign currency contracts - not designated as hedges — 2,261 — 2,261 Interest rate swap agreements — 9,522 — 9,522 Deferred compensation plans — 3,488 — 3,488 $ 6,027 $ 15,271 $ — $ 21,298 Liabilities: Foreign currency contracts - not designated as hedges $ — $ 1,769 $ — $ 1,769 Cross currency swap agreements — 22,232 — 22,232 Deferred compensation plans — 3,488 — 3,488 $ — $ 27,489 $ — $ 27,489 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 28, 2024, the impact of the credit valuation adjustment on the Company’s derivatives is immaterial. Refer to Note 11, “Derivatives” for additional information. There were no transfers in or out of Level One, Two or Three during the six months ended June 28, 2024.

Equity

Equity	6 Months Ended
	Jun. 28, 2024
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 28, 2024 and June 30, 2023. 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, 2023 $ (59,805) $ (554,622) $ (17,215) $ 7,370 $ (624,272) Other comprehensive income (loss) before reclassifications: Foreign currency translation adjustment 243 (38,265) 4,995 — (33,027) Gain on long-term intra-entity foreign currency transactions — 7,996 — — 7,996 Unrealized loss on cash flow hedges — — — 3,920 3,920 Other comprehensive income (loss) before reclassifications 243 (30,269) 4,995 3,920 (21,111) Amounts reclassified from Accumulated other comprehensive loss (1)(2) 629 — — (2,907) (2,278) Net current period Other comprehensive income (loss) 872 (30,269) 4,995 1,013 (23,389) Balance at March 29, 2024 $ (58,933) $ (584,891) $ (12,220) $ 8,383 $ (647,661) Other comprehensive income (loss) before reclassifications: Foreign currency translation adjustment 6 (23,042) 686 — (22,350) Gain on long-term intra-entity foreign currency transactions — 8,162 — — 8,162 Unrealized gain on cash flow hedges — — — 811 811 Other comprehensive income (loss) before reclassifications 6 (14,880) 686 811 (13,377) Amounts reclassified from Accumulated other comprehensive loss (1)(2) 327 — — (2,662) (2,335) Net current period Other comprehensive (loss) income 333 (14,880) 686 (1,851) (15,712) Balance at June 28, 2024 $ (58,600) $ (599,771) $ (11,534) $ 6,532 $ (663,373) (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 28, 2024, the amount within Cash Flow Hedges is a component of Interest expense and other, net. See Note 11, “Derivatives” for additional details. 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 loss 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) 889 — — (2,109) (1,220) Net current period Other comprehensive income (loss) 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 within Cash Flow Hedges is a component of Interest expense and other, net. See Note 11, “Derivatives” for additional details.

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 28, 2024
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, or owner, 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 settlement value 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 to plaintiffs. The Company has classified asbestos-related activity in Loss from discontinued operations, net of taxes in the Consolidated and 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 Consolidated and Condensed 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 28, 2024 June 30, 2023 (Number of claims) Claims unresolved, beginning of period 13,648 14,106 Claims filed (1) 2,517 2,209 Claims resolved (2) (1,447) (1,551) Claims unresolved, end of period 14,718 14,764 (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 and Condensed Balance Sheets included the following amounts related to asbestos-related litigation: June 28, 2024 December 31, 2023 (In thousands) Long-term asbestos insurance asset (1) $ 204,672 $ 221,489 Long-term asbestos insurance receivable (1) 19,524 17,868 Accrued asbestos liability (2) 35,254 32,908 Long-term asbestos liability (3) 211,970 234,796 (1) Included in Other assets in the Consolidated and Condensed Balance Sheets. (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 and Condensed Balance Sheets. (3) Included in Other liabilities in the Consolidated and Condensed Balance Sheets. 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. 28, 2024
Segment Reporting [Abstract]
Segment Information	Segment Information ESAB is a focused premier industrial compounder. ESAB provides its partners with fabrication technology advanced equipment, consumables, gas control equipment, welding robotics and digital solutions. 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, Pension settlement (loss), Restructuring and other related charges, 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 28, 2024 June 30, 2023 June 28, 2024 June 30, 2023 (In thousands) Net sales: Americas $ 309,765 $ 310,278 $ 605,812 $ 601,847 EMEA & APAC 397,288 410,144 790,985 802,575 $ 707,053 $ 720,422 $ 1,396,797 $ 1,404,422 Adjusted EBITDA (1) : Americas $ 64,684 $ 58,263 $ 118,782 $ 107,705 EMEA & APAC 76,289 73,810 151,328 142,357 $ 140,973 $ 132,073 $ 270,110 $ 250,062 (1) The following is a reconciliation of Net income from continuing operations to Adjusted EBITDA. Three Months Ended Six Months Ended June 28, 2024 June 30, 2023 June 28, 2024 June 30, 2023 (In thousands) Net income from continuing operations $ 85,530 $ 68,846 $ 148,433 $ 102,975 Income tax expense 17,885 20,974 36,389 57,998 Interest expense and other, net (1) 15,940 18,819 33,031 38,329 Pension settlement loss — — 12,155 — Restructuring and other related charges 4,773 5,169 6,697 14,613 Acquisition - amortization and other related charges (2) 7,730 9,252 15,507 18,541 Depreciation and other amortization 9,115 9,013 17,898 17,606 Adjusted EBITDA $ 140,973 $ 132,073 $ 270,110 $ 250,062 (1) Relates to removal of interest expense, net included within the Interest expense and other, net line within the Consolidated and Condensed Statements of Operations. (2) Includes transaction expenses, amortization of intangibles, fair value charges on acquired inventories and integration expenses.

Subsequent Events

Subsequent Events	6 Months Ended
	Jun. 28, 2024
Subsequent Events [Abstract]
Subsequent Events	Subsequent Events The dividend of $4.9 million included in Accrued liabilities in the Consolidated and Condensed Balance Sheets at June 28, 2024 was paid on July 12, 2024 to stockholders of record as of June 28, 2024. On July 2, 2024, the Company completed the acquisition of Linde Industries Private Limited, a leading welding company in Bangladesh, for approximately $77 million, net of cash received.

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 28, 2024	Jun. 30, 2023	Jun. 28, 2024	Jun. 30, 2023
Pay vs Performance Disclosure
Net income	$ 82,907	$ 65,573	$ 142,858	$ 97,476

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended	6 Months Ended
	Jun. 28, 2024 shares	Jun. 28, 2024 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 J. Johnson [Member]
Trading Arrangements, by Individual
Material Terms of Trading Arrangement		On May 3, 2024, Mr. Kevin Johnson, Chief Financial Officer of the Company, adopted a trading plan intended to satisfy Rule 10b5-1(c) to sell up to 5,044 shares of Company common stock between August 5, 2024 and March 7, 2025, subject to certain conditions, all of which shares are to be acquired upon exercise of employee stock options scheduled to expire on March 7, 2025.
Name	Mr. Kevin Johnson
Title	Chief Financial Officer
Rule 10b5-1 Arrangement Adopted	true
Adoption Date	May 3, 2024
Arrangement Duration	214 days
Aggregate Available	5,044	5,044
Mr. Shyam P. Kambeyanda [Member]
Trading Arrangements, by Individual
Material Terms of Trading Arrangement		On May 10, 2024, Mr. Shyam P. Kambeyanda, the President and Chief Executive Officer of the Company, adopted a trading plan intended to satisfy Rule 10b5-1(c) to sell (i) up to 12,558 shares of Company common stock between August 12, 2024 and May 12, 2025, subject to certain conditions and (ii) up to 46,562 shares of Company common stock between August 12, 2024 and March 7, 2025, subject to certain conditions, all of which shares are to be acquired upon exercise of employee stock options scheduled to expire on March 7, 2025.
Name	Mr. Shyam P. Kambeyanda
Title	President and Chief Executive Officer
Rule 10b5-1 Arrangement Adopted	true
Adoption Date	May 10, 2024
Mr. Shyam P. Kambeyanda Trading Plan One [Member] | Mr. Shyam P. Kambeyanda [Member]
Trading Arrangements, by Individual
Arrangement Duration	301 days
Aggregate Available	12,558	12,558
Mr. Shyam P. Kambeyanda Trading Plan Two [Member] | Mr. Shyam P. Kambeyanda [Member]
Trading Arrangements, by Individual
Arrangement Duration	207 days
Aggregate Available	46,562	46,562

Organization and Basis of Pre_2

Organization and Basis of Presentation (Policies)	6 Months Ended
	Jun. 28, 2024
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
Basis of Presentation	The Consolidated and Condensed Financial Statements included herein have been prepared by the Company pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”). Certain information and footnote disclosures normally included in the financial statements prepared in accordance with the accounting principles generally accepted in the United States (“U.S. GAAP”) have been condensed or omitted pursuant to SEC rules and regulations; however the Company believes that the disclosures are adequate to make the information presented not misleading. The accompanying interim Consolidated and Condensed Financial Statements and the related notes should be read in conjunction with the Company’s Annual Report on Form 10-K for the year ended December 31, 2023 (the “2023 Form 10-K”), filed with the SEC on February 29, 2024.
Consolidation	The Consolidated and 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.

Revenue (Tables)

Revenue (Tables)	6 Months Ended
	Jun. 28, 2024
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 28, 2024 June 30, 2023 June 28, 2024 June 30, 2023 (In thousands) Equipment $ 231,659 $ 226,049 $ 446,518 $ 426,268 Consumables 475,394 494,373 950,279 978,154 Total $ 707,053 $ 720,422 $ 1,396,797 $ 1,404,422
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 28, 2024 Balance at Charged to Expense, net Write-Offs and Deductions Foreign Balance at (In thousands) Allowance for credit losses $ 25,477 $ 1,801 $ (1,229) $ (677) $ 25,372

Earnings per Share from Conti_2

Earnings per Share from Continuing Operations (Tables)	6 Months Ended
	Jun. 28, 2024
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 28, 2024 June 30, 2023 June 28, 2024 June 30, 2023 (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) $ 84,068 $ 67,196 $ 145,328 $ 100,013 Less: distributed and undistributed earnings allocated to nonvested shares (382) (500) (747) (737) Income from continuing operations attributable to common stockholders $ 83,686 $ 66,696 $ 144,581 $ 99,276 Weighted-average shares of Common stock outstanding – basic 60,432,230 60,237,955 60,389,176 60,192,152 Income per share from continuing operations – basic $ 1.38 $ 1.11 $ 2.39 $ 1.65 Computation of earnings per share from continuing operations – diluted: Income from continuing operations attributable to common stockholders $ 83,686 $ 66,696 $ 144,581 $ 99,276 Weighted-average shares of Common stock outstanding – basic 60,432,230 60,237,955 60,389,176 60,192,152 Net effect of potentially dilutive securities (2) 646,226 323,384 644,031 331,631 Weighted-average shares of Common stock outstanding – dilution 61,078,456 60,561,339 61,033,207 60,523,783 Net income per share from continuing operations – diluted $ 1.37 $ 1.10 $ 2.37 $ 1.64 (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 $1.5 million and $3.1 million for the three and six months ended June 28, 2024, respectively, and $1.7 million and $3.0 million for the three and six months ended June 30, 2023, respectively. (2) Potentially dilutive securities include stock options, performance-based restricted stock units and non-performance-based restricted stock units.

Inventories, Net (Tables)

Inventories, Net (Tables)	6 Months Ended
	Jun. 28, 2024
Inventory Disclosure [Abstract]
Schedule of Inventory, Net	Inventories, net consisted of the following: June 28, 2024 December 31, 2023 (In thousands) Raw materials $ 161,063 $ 156,583 Work in process 48,190 43,561 Finished goods 266,590 244,580 475,843 444,724 LIFO reserve (4,980) (4,279) Allowance for excess, slow-moving and obsolete inventory (44,343) (47,587) $ 426,520 $ 392,858

Accrued and Other Liabilities (

Accrued and Other Liabilities (Tables)	6 Months Ended
	Jun. 28, 2024
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 28, 2024 December 31, 2023 Current Noncurrent Current Noncurrent (In thousands) Accrued taxes and deferred tax liabilities $ 45,368 $ 129,591 $ 45,681 $ 144,662 Compensation and related benefits 74,033 50,230 97,052 52,589 Asbestos liability 35,254 211,970 32,908 234,796 Contract liabilities 27,862 — 31,248 — Lease liabilities 22,334 70,189 22,794 76,609 Warranty liability 14,546 — 12,606 — Third-party commissions 14,155 — 18,711 — Restructuring liability 6,379 207 5,345 354 Other 61,040 24,779 47,144 33,823 $ 300,971 $ 486,966 $ 313,489 $ 542,833
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 28, 2024 June 30, 2023 (In thousands) Warranty liability, beginning of period $ 12,606 $ 12,946 Accrued warranty expense 6,693 3,306 Changes in estimates related to pre-existing warranties 1,074 1,703 Cost of warranty service work performed (5,529) (5,832) Foreign exchange translation effect (298) 1,436 Warranty liability, end of period $ 14,546 $ 13,559
Schedule of Restructuring Reserve by Type of Cost	A summary of the activity in the Company’s restructuring liability included in Accrued and Other liabilities in the Consolidated and Condensed Balance Sheets is as follows: Six Months Ended June 28, 2024 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) $ 4,595 $ 4,620 $ (3,218) $ (10) $ 5,987 Facility closure costs and other (2) 1,104 2,077 (2,161) (421) 599 Total $ 5,699 $ 6,697 $ (5,379) $ (431) $ 6,586 (1) Includes severance and other termination benefits, including outplacement services. (2)

Debt (Tables)

Debt (Tables)	6 Months Ended
	Jun. 28, 2024
Debt Disclosure [Abstract]
Schedule of Long-Term Debt	Long-term debt consisted of the following: June 28, 2024 December 31, 2023 (In thousands) Term loans $ 390,000 $ 987,500 Senior unsecured notes 700,000 — Revolving credit facilities — 32,000 Total debt 1,090,000 1,019,500 Unamortized deferred financing fees (10,376) (1,443) Long-term debt $ 1,079,624 $ 1,018,057

Derivatives (Tables)

Derivatives (Tables)	6 Months Ended
	Jun. 28, 2024
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 Condensed Statements of Operations consisted of the following: Three Months Ended Six Months Ended Derivative Type (Gain) Recognized in the Consolidated and Condensed Statements of Operations: June 28, 2024 June 30, 2023 June 28, 2024 June 30, 2023 (In thousands) Interest rate swap agreements Interest expense and other, net $ (3,049) $ (2,717) $ (5,770) $ (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 Condensed Statements of Operations consisted of the following: Three Months Ended Six Months Ended Derivative Type (Gain) Recognized in the Consolidated and Condensed Statements of Operations: June 28, 2024 June 30, 2023 June 28, 2024 June 30, 2023 (In thousands) Cross currency swap agreements Interest expense and other, net $ (1,175) $ (1,187) $ (2,354) $ (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 and Condensed Balance Sheets: June 28, 2024 December 31, 2023 Designated as Hedging Instruments Other Liabilities Other Assets Other Liabilities Other Assets (In thousands) Cross currency swap agreements $ 15,054 $ — $ 22,232 $ — Interest rate swap agreements — 4,215 — 9,522 Total $ 15,054 $ 4,215 $ 22,232 $ 9,522
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 and Condensed Balance Sheets: June 28, 2024 December 31, 2023 Not designated as hedging instruments Accrued Liabilities Other Current Assets Accrued Liabilities Other Current Assets (In thousands) Foreign currency contracts $ 1,227 $ 2,348 $ 596 $ 1,088
Schedule of Derivative Instruments	The Company recognized the following in its Consolidated and Condensed Financial Statements related to its derivative instruments not designated in a hedging relationship: Three Months Ended Six Months Ended Foreign currency contracts June 28, 2024 June 30, 2023 June 28, 2024 June 30, 2023 (In thousands) Change in unrealized gains (losses) $ 678 $ (1,437) $ 629 $ (1,293) Realized gains 2,542 238 378 1,265 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 Condensed Statements of Operations.

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	6 Months Ended
	Jun. 28, 2024
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 28, 2024 Level Level Level Total (In thousands) Assets: Cash equivalents $ 7,168 $ — $ — $ 7,168 Foreign currency contracts - not designated as hedges — 3,649 — 3,649 Interest rate swap agreements — 4,215 — 4,215 Deferred compensation plans — 4,532 — 4,532 $ 7,168 $ 12,396 $ — $ 19,564 Liabilities: Foreign currency contracts - not designated as hedges $ — $ 2,528 $ — $ 2,528 Cross currency swap agreements — 15,054 — 15,054 Deferred compensation plans — 4,532 — 4,532 $ — $ 22,114 $ — $ 22,114 December 31, 2023 Level Level Level Total (In thousands) Assets: Cash equivalents $ 6,027 $ — $ — $ 6,027 Foreign currency contracts - not designated as hedges — 2,261 — 2,261 Interest rate swap agreements — 9,522 — 9,522 Deferred compensation plans — 3,488 — 3,488 $ 6,027 $ 15,271 $ — $ 21,298 Liabilities: Foreign currency contracts - not designated as hedges $ — $ 1,769 $ — $ 1,769 Cross currency swap agreements — 22,232 — 22,232 Deferred compensation plans — 3,488 — 3,488 $ — $ 27,489 $ — $ 27,489

Equity (Tables)

Equity (Tables)	6 Months Ended
	Jun. 28, 2024
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 28, 2024 and June 30, 2023. 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, 2023 $ (59,805) $ (554,622) $ (17,215) $ 7,370 $ (624,272) Other comprehensive income (loss) before reclassifications: Foreign currency translation adjustment 243 (38,265) 4,995 — (33,027) Gain on long-term intra-entity foreign currency transactions — 7,996 — — 7,996 Unrealized loss on cash flow hedges — — — 3,920 3,920 Other comprehensive income (loss) before reclassifications 243 (30,269) 4,995 3,920 (21,111) Amounts reclassified from Accumulated other comprehensive loss (1)(2) 629 — — (2,907) (2,278) Net current period Other comprehensive income (loss) 872 (30,269) 4,995 1,013 (23,389) Balance at March 29, 2024 $ (58,933) $ (584,891) $ (12,220) $ 8,383 $ (647,661) Other comprehensive income (loss) before reclassifications: Foreign currency translation adjustment 6 (23,042) 686 — (22,350) Gain on long-term intra-entity foreign currency transactions — 8,162 — — 8,162 Unrealized gain on cash flow hedges — — — 811 811 Other comprehensive income (loss) before reclassifications 6 (14,880) 686 811 (13,377) Amounts reclassified from Accumulated other comprehensive loss (1)(2) 327 — — (2,662) (2,335) Net current period Other comprehensive (loss) income 333 (14,880) 686 (1,851) (15,712) Balance at June 28, 2024 $ (58,600) $ (599,771) $ (11,534) $ 6,532 $ (663,373) (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 28, 2024, the amount within Cash Flow Hedges is a component of Interest expense and other, net. See Note 11, “Derivatives” for additional details. 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 loss 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) 889 — — (2,109) (1,220) Net current period Other comprehensive income (loss) 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 within Cash Flow Hedges is a component of Interest expense and other, net. See Note 11, “Derivatives” for additional details.

Commitments and Contingencies (

Commitments and Contingencies (Tables)	6 Months Ended
	Jun. 28, 2024
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 28, 2024 June 30, 2023 (Number of claims) Claims unresolved, beginning of period 13,648 14,106 Claims filed (1) 2,517 2,209 Claims resolved (2) (1,447) (1,551) Claims unresolved, end of period 14,718 14,764 (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 and Condensed Balance Sheets included the following amounts related to asbestos-related litigation: June 28, 2024 December 31, 2023 (In thousands) Long-term asbestos insurance asset (1) $ 204,672 $ 221,489 Long-term asbestos insurance receivable (1) 19,524 17,868 Accrued asbestos liability (2) 35,254 32,908 Long-term asbestos liability (3) 211,970 234,796 (1) Included in Other assets in the Consolidated and Condensed Balance Sheets. (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 and Condensed Balance Sheets. (3) Included in Other liabilities in the Consolidated and Condensed Balance Sheets.

Segment Information (Tables)

Segment Information (Tables)	6 Months Ended
	Jun. 28, 2024
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 28, 2024 June 30, 2023 June 28, 2024 June 30, 2023 (In thousands) Net sales: Americas $ 309,765 $ 310,278 $ 605,812 $ 601,847 EMEA & APAC 397,288 410,144 790,985 802,575 $ 707,053 $ 720,422 $ 1,396,797 $ 1,404,422 Adjusted EBITDA (1) : Americas $ 64,684 $ 58,263 $ 118,782 $ 107,705 EMEA & APAC 76,289 73,810 151,328 142,357 $ 140,973 $ 132,073 $ 270,110 $ 250,062 (1) The following is a reconciliation of Net income from continuing operations to Adjusted EBITDA. Three Months Ended Six Months Ended June 28, 2024 June 30, 2023 June 28, 2024 June 30, 2023 (In thousands) Net income from continuing operations $ 85,530 $ 68,846 $ 148,433 $ 102,975 Income tax expense 17,885 20,974 36,389 57,998 Interest expense and other, net (1) 15,940 18,819 33,031 38,329 Pension settlement loss — — 12,155 — Restructuring and other related charges 4,773 5,169 6,697 14,613 Acquisition - amortization and other related charges (2) 7,730 9,252 15,507 18,541 Depreciation and other amortization 9,115 9,013 17,898 17,606 Adjusted EBITDA $ 140,973 $ 132,073 $ 270,110 $ 250,062 (1) Relates to removal of interest expense, net included within the Interest expense and other, net line within the Consolidated and Condensed Statements of Operations. (2) Includes transaction expenses, amortization of intangibles, fair value charges on acquired inventories and integration expenses.

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 ($)	Jun. 28, 2024 USD ($) $ / shares	Mar. 29, 2024 $ / shares	Jun. 30, 2023 USD ($) $ / shares	Mar. 31, 2023 $ / shares	Jun. 28, 2024 USD ($) segment	Jun. 30, 2023 USD ($)	Dec. 31, 2023 USD ($)
Concentration Risk [Line Items]
Number of reportable segments | segment						2
Quarterly cash dividend declared (in dollars per share) | $ / shares		$ 0.08	$ 0.06	$ 0.06	$ 0.05
Payment of dividends						$ 7,278	$ 6,061
Net income		$ 82,907		$ 65,573		142,858	97,476
Cumulative translation loss		(1,707,972)				(1,707,972)		$ (1,607,399)
Research and development expense		9,700		$ 9,500		19,800	$ 19,100
Foreign Currency Translation Adjustment
Concentration Risk [Line Items]
Cumulative translation loss		113,000				113,000
Russia
Concentration Risk [Line Items]
Net income		$ 5,000				$ 10,000
Russia | Assets | Geographic Concentration Risk
Concentration Risk [Line Items]
Concentration risk (as a percent)						5%
Russia | Revenue from Contract with Customer Benchmark | Geographic Concentration Risk
Concentration Risk [Line Items]
Concentration risk (as a percent)		6%				5%
Enovis Corporation
Concentration Risk [Line Items]
Cash consideration	$ 1,200,000

Discontinued Operations (Detail

Discontinued Operations (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 28, 2024	Jun. 30, 2023	Jun. 28, 2024	Jun. 30, 2023
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Loss from discontinued operations, net of taxes	$ (1,161)	$ (1,623)	$ (2,470)	$ (2,536)
Cash used in operating activities, discontinued operations	$ 4,800	4,400	8,500	9,700
Discontinued Operations	Discontinued Operations The Company holds certain asbestos-related contingencies and insurance coverages from divested businesses for which it does not have an interest in the ongoing operations. The Company has classified asbestos-related activity in its Consolidated and Condensed Statements of Operations as part of Loss from discontinued operations, net of taxes. This activity consists primarily of expected settlements, legal and administrative expenses associated with the above liabilities. Loss from discontinued operations, net of taxes was $1.2 million and $2.5 million for the three and six months ended June 28, 2024, respectively, and $1.6 million and $2.5 million for the three and six months ended June 30, 2023, respectively. S ee Note 14, “Commitments and Contingencies” for further information. Cas h used in operating activities related to discontinued operations for the three and six months ended June 28, 2024 was $4.8 million and $8.5 million, respectively, and for the three and six months ended June 30, 2023 it was $4.4 million and $9.7 million , 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	$ (1,200)	$ (1,600)	$ (2,500)	$ (2,500)

Discontinued Operations (Deta_2

Discontinued Operations (Details)	3 Months Ended
	Jun. 28, 2024
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Discontinued Operations	Discontinued Operations The Company holds certain asbestos-related contingencies and insurance coverages from divested businesses for which it does not have an interest in the ongoing operations. The Company has classified asbestos-related activity in its Consolidated and Condensed Statements of Operations as part of Loss from discontinued operations, net of taxes. This activity consists primarily of expected settlements, legal and administrative expenses associated with the above liabilities. Loss from discontinued operations, net of taxes was $1.2 million and $2.5 million for the three and six months ended June 28, 2024, respectively, and $1.6 million and $2.5 million for the three and six months ended June 30, 2023, respectively. S ee Note 14, “Commitments and Contingencies” for further information. Cas h used in operating activities related to discontinued operations for the three and six months ended June 28, 2024 was $4.8 million and $8.5 million, respectively, and for the three and six months ended June 30, 2023 it was $4.4 million and $9.7 million , respectively.

Acquisition (Details)

Acquisition (Details) - USD ($) $ in Millions	Feb. 26, 2024	Jan. 11, 2023
Therapy Equipment Limited
Business Acquisition [Line Items]
Consideration transferred for acquisition		$ 18.7
Sager S.A.
Business Acquisition [Line Items]
Consideration transferred for acquisition	$ 18.1

Revenue - Disaggregation of Rev

Revenue - Disaggregation of Revenue (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 28, 2024	Jun. 30, 2023	Jun. 28, 2024	Jun. 30, 2023
Disaggregation of Revenue [Line Items]
Total	$ 707,053	$ 720,422	$ 1,396,797	$ 1,404,422
Equipment
Disaggregation of Revenue [Line Items]
Total	231,659	226,049	446,518	426,268
Consumables
Disaggregation of Revenue [Line Items]
Total	$ 475,394	$ 494,373	$ 950,279	$ 978,154

Revenue - Narrative (Details)

Revenue - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 28, 2024	Jun. 30, 2023	Jun. 28, 2024	Jun. 30, 2023	Dec. 31, 2023	Dec. 31, 2022
Revenue [Abstract]
Contract liability	$ 27.9	$ 28.2	$ 27.9	$ 28.2	$ 31.2	$ 25.9
Revenue recognized, contract liability	$ (5.1)	$ (3.3)	$ (21.3)	$ (14.4)

Revenue - Allowance for Credit

Revenue - Allowance for Credit Loss Rollforward (Details) $ in Thousands	6 Months Ended
	Jun. 28, 2024 USD ($)
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Balance at Beginning of Period	$ 25,477
Charged to Expense, net	1,801
Write-Offs and Deductions	(1,229)
Foreign Currency Translation	(677)
Balance at End of Period	$ 25,372

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. 28, 2024	Jun. 30, 2023	Jun. 28, 2024	Jun. 30, 2023
Computation of earnings per share from continuing operations – basic:
Income from continuing operations attributable to ESAB Corporation	$ 84,068	$ 67,196	$ 145,328	$ 100,013
Less: distributed and undistributed earnings allocated to nonvested shares	(382)	(500)	(747)	(737)
Net Income (Loss) Available to Common Stockholders	$ 83,686	$ 66,696	$ 144,581	$ 99,276
Weighted-average shares of common stock outstanding - basic (in shares)	60,432,230	60,237,955	60,389,176	60,192,152
Income per share from continuing operations – basic (in dollars per share)	$ 1.38	$ 1.11	$ 2.39	$ 1.65
Computation of earnings per share from continuing operations – diluted:
Net effect of potentially dilutive securities (in shares)	646,226	323,384	644,031	331,631
Weighted-average shares of common stock outstanding - assuming dilution (in shares)	61,078,456	60,561,339	61,033,207	60,523,783
Income per share from continuing operations – assuming dilution (in dollars per share)	$ 1.37	$ 1.10	$ 2.37	$ 1.64
Net income from continuing operations attributable to noncontrolling interest, net of taxes	$ 1,500	$ 1,700	$ 3,100	$ 3,000

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 28, 2024	Jun. 30, 2023	Jun. 28, 2024	Jun. 30, 2023	Dec. 31, 2023	Dec. 31, 2022
Income Tax Disclosure [Abstract]
Income from continuing operations before income taxes	$ 103,415	$ 89,820	$ 184,822	$ 160,973
Income tax expense	$ 17,885	$ 20,974	$ 36,389	$ 57,998
Effective tax rate (as a percent)	17.30%	23.40%	19.70%	36%
Undistributed foreign earnings, tax expense				$ 10,900
Increase (decrease) in the net liability for uncertain tax positions	$ (7,900)		$ (17,700)	9,400
Contract liability	$ 27,900	$ 28,200	$ 27,900	$ 28,200	$ 31,200	$ 25,900

Inventories, Net (Details)

Inventories, Net (Details) - USD ($) $ in Thousands	Jun. 28, 2024	Dec. 31, 2023
Inventory Disclosure [Abstract]
Raw materials	$ 161,063	$ 156,583
Work in process	48,190	43,561
Finished goods	266,590	244,580
Inventories, gross	475,843	444,724
LIFO reserve	(4,980)	(4,279)
Allowance for excess, slow-moving and obsolete inventory	(44,343)	(47,587)
Inventories, net	$ 426,520	$ 392,858
Percentage of inventory valued at LIFO	24.60%	27.40%

Accrued and Other Liabilities -

Accrued and Other Liabilities - Current and Noncurrent (Details) - USD ($) $ in Thousands	Jun. 28, 2024	Dec. 31, 2023
Current
Accrued taxes and deferred tax liabilities	$ 45,368	$ 45,681
Compensation and related benefits	74,033	97,052
Asbestos liability	35,254	32,908
Contract liabilities	$ 27,862	31,248
Operating Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration]	Total accrued and other liabilities, Current
Lease liabilities	$ 22,334	22,794
Warranty liability	14,546	12,606
Third-party commissions	14,155	18,711
Restructuring liability	6,379	5,345
Other	61,040	47,144
Total accrued and other liabilities, Current	300,971	313,489
Noncurrent
Accrued taxes and deferred tax liabilities	129,591	144,662
Compensation and related benefits	50,230	52,589
Asbestos liability	211,970	234,796
Contract liabilities	$ 0	0
Operating Lease, Liability, Noncurrent, Statement of Financial Position [Extensible Enumeration]	Total accrued and other liabilities, Noncurrent
Lease liabilities	$ 70,189	76,609
Warranty liability	0	0
Third-party commissions	0	0
Restructuring liability	207	354
Other	24,779	33,823
Total accrued and other liabilities, Noncurrent	$ 486,966	$ 542,833

Accrued and Other Liabilities_2

Accrued and Other Liabilities - Warranty Liability Rollforward (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 28, 2024	Jun. 30, 2023
Movement in Standard Product Warranty Accrual [Roll Forward]
Warranty liability, beginning of period	$ 12,606	$ 12,946
Accrued warranty expense	6,693	3,306
Changes in estimates related to pre-existing warranties	1,074	1,703
Cost of warranty service work performed	(5,529)	(5,832)
Foreign exchange translation effect	298	(1,436)
Warranty liability, end of period	$ 14,546	$ 13,559

Accrued and Other Liabilities_3

Accrued and Other Liabilities - Restructuring Rollforward (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 28, 2024	Jun. 30, 2023	Jun. 28, 2024	Jun. 30, 2023
Restructuring Reserve [Roll Forward]
Balance at Beginning of Period			$ 5,699
Payments			(5,379)
Foreign Currency Translation			(431)
Total	$ 4,773	$ 5,169	6,697	$ 14,613
Termination benefits
Restructuring Reserve [Roll Forward]
Balance at Beginning of Period			4,595
Payments			(3,218)
Foreign Currency Translation			(10)
Balance at End of Period	5,987		5,987
Total			4,620
Facility closure costs and other
Restructuring Reserve [Roll Forward]
Balance at Beginning of Period			1,104
Payments			(2,161)
Foreign Currency Translation			(421)
Balance at End of Period	$ 599		599
Total			$ 2,077

Benefit Plans (Details)

Benefit Plans (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 28, 2024	Jun. 30, 2023	Jun. 28, 2024	Jun. 30, 2023
Retirement Benefits [Abstract]
Pension settlement loss	$ 0	$ 0	$ 12,155	$ 0

Debt - Schedule of Long-Term De

Debt - Schedule of Long-Term Debt (Details) - USD ($) $ in Thousands	Jun. 28, 2024	Dec. 31, 2023
Debt Instrument [Line Items]
Total debt	$ 1,090,000	$ 1,019,500
Unamortized deferred financing fees	(10,376)	(1,443)
Long-term debt	1,079,624	1,018,057
Senior Note Offering | Senior Notes
Debt Instrument [Line Items]
Total debt	700,000	0
Term loans | The Credit Agreement | Line of Credit
Debt Instrument [Line Items]
Total debt	390,000	987,500
Revolving credit facilities | The Credit Agreement | Line of Credit
Debt Instrument [Line Items]
Total debt	$ 0	$ 32,000

Debt - Narrative (Details)

Debt - Narrative (Details)		6 Months Ended
	Apr. 04, 2022 USD ($)	Jun. 28, 2024 USD ($)	Jun. 30, 2024	Apr. 09, 2024 USD ($)	Dec. 31, 2023 USD ($)	Jun. 30, 2023	Jun. 28, 2022 USD ($)
Debt Instrument [Line Items]
Deferred financing fees		$ 11,200,000
Letters of credit outstanding		27,900,000
Long-term debt		1,079,624,000			$ 1,018,057,000
Long-Term Debt
Debt Instrument [Line Items]
Deferred financing fees		10,400,000
Other Liabilities
Debt Instrument [Line Items]
Deferred financing fees		$ 800,000
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)		5.13%
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
Senior Note Offering | Senior Notes
Debt Instrument [Line Items]
Principal amount		$ 700,000,000		$ 700,000,000
Contractual interest rate				6.25%
Revolving credit facilities | The Credit Agreement | Line of Credit
Debt Instrument [Line Items]
Aggregate principal amount	$ 750,000,000	750,000,000
Amount drawn from credit facility	200,000,000	0
Capacity for additional indebtedness		750,000,000
Term loans | The Credit Agreement | Senior Notes
Debt Instrument [Line Items]
Principal amount	$ 600,000,000						$ 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	390,000,000
Indebtedness incurred	400,000,000
Letter of Credit
Debt Instrument [Line Items]
Aggregate principal amount		108,600,000
Letter of Credit | The Credit Agreement | Line of Credit
Debt Instrument [Line Items]
Aggregate principal amount	300,000,000
Letter of Credit | Uncommitted Credit Line
Debt Instrument [Line Items]
Aggregate principal amount		$ 50,000,000
Bridge Loan | The Credit Agreement | Line of Credit
Debt Instrument [Line Items]
Aggregate principal amount	$ 50,000,000

Derivatives - Narratives (Detai

Derivatives - Narratives (Details) € in Millions	6 Months Ended
	Jun. 28, 2024 USD ($)	Jun. 25, 2024 agreement	Apr. 09, 2024 USD ($)	Dec. 31, 2023 USD ($)	Jul. 22, 2022 USD ($) agreement	Jul. 22, 2022 EUR (€) agreement	Jul. 14, 2022 USD ($) agreement
Derivatives, Fair Value [Line Items]
Increase in derivative assets and liabilities	$ 1,300,000
Senior Note Offering | Senior Notes
Derivatives, Fair Value [Line Items]
Principal amount	700,000,000		$ 700,000,000
Cash Flow Hedging | Designated as hedging instruments
Derivatives, Fair Value [Line Items]
Notional amount					$ 275,000,000	€ 270
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%
Interest rate swap agreements
Derivatives, Fair Value [Line Items]
Number of derivative instruments held | agreement							2
Notional amount	$ 300,000,000						$ 600,000,000
Basis spread on variable rate (as a percent)	1.25%
Loss related to interest rate swap agreements	$ 3,400,000
Interest rate swap agreements | Cash Flow Hedging
Derivatives, Fair Value [Line Items]
Proceeds from settlement of interest rate swap	5,500,000
Deferred AOCI impact from interest rate swap	5,500,000
Cross currency swap agreements
Derivatives, Fair Value [Line Items]
Number of derivative instruments held | agreement		4			2	2
Cross currency swap agreements | Not Designated as Hedging Instrument
Derivatives, Fair Value [Line Items]
Notional amount	$ 258,500,000			$ 232,500,000

Derivatives - Schedule of Deriv

Derivatives - Schedule of Derivative Instruments (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 28, 2024	Jun. 30, 2023	Jun. 28, 2024	Jun. 30, 2023
Interest rate swap agreements
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Realized loss	$ (1,175)	$ (1,187)	$ (2,354)	$ (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	(3,049)	(2,717)	(5,770)	(4,695)
Cross currency swap agreements | Not Designated as Hedging Instrument
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Realized loss	2,542	238	378	1,265
Change in unrealized gains (losses)	$ 678	$ (1,437)	$ 629	$ (1,293)

Derivatives - Derivatives Not D

Derivatives - Derivatives Not Designated as Hedging Instruments (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 28, 2024	Dec. 31, 2023
Derivative [Line Items]
Derivative Liability, Current, Statement of Financial Position [Extensible Enumeration]	Accrued liabilities	Accrued liabilities
Derivative Asset, Current, Statement of Financial Position [Extensible Enumeration]	Other current assets	Other current assets
Increase in derivative assets and liabilities	$ 1,300
Foreign currency contracts | Not Designated as Hedging Instrument
Derivative [Line Items]
Derivative liability, current	1,227	$ 596
Derivative asset, current	$ 2,348	$ 1,088

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. 28, 2024	Jun. 30, 2023	Jun. 28, 2024	Jun. 30, 2023	Dec. 31, 2023
Derivatives, Fair Value [Line Items]
Derivative assets	$ 4,215		$ 4,215		$ 9,522
Derivative liabilities	15,054		15,054		22,232
Cross currency swap agreements
Derivatives, Fair Value [Line Items]
Derivative assets	0		0		0
Derivative liabilities	15,054		15,054		22,232
Interest rate swap agreements
Derivatives, Fair Value [Line Items]
Derivative assets	4,215		4,215		9,522
Derivative liabilities	0		0		$ 0
Realized loss	(1,175)	$ (1,187)	(2,354)	$ (2,388)
Not Designated as Hedging Instrument | Cross currency swap agreements
Derivatives, Fair Value [Line Items]
Change in unrealized gains (losses)	678	(1,437)	629	(1,293)
Realized loss	$ 2,542	$ 238	$ 378	$ 1,265

Fair Value Measurements - Fair

Fair Value Measurements - Fair Value Hierarchy (Details) - USD ($) $ in Thousands	Jun. 28, 2024	Dec. 31, 2023
Assets:
Cash equivalents	$ 7,168	$ 6,027
Deferred compensation plans	4,532	3,488
Total assets at fair value	19,564	21,298
Liabilities:
Deferred compensation plans	4,532	3,488
Total liabilities at fair value	22,114	27,489
Cross currency swap agreements | Not Designated as Hedging Instrument
Assets:
Derivative assets	3,649	2,261
Liabilities:
Derivative liabilities	2,528	1,769
Cross currency swap agreements | Designated as hedging instruments
Liabilities:
Derivative liabilities	15,054	22,232
Interest rate swap agreements
Assets:
Derivative assets	4,215	9,522
Level One
Assets:
Cash equivalents	7,168	6,027
Deferred compensation plans	0	0
Total assets at fair value	7,168	6,027
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	4,532	3,488
Total assets at fair value	12,396	15,271
Liabilities:
Deferred compensation plans	4,532	3,488
Total liabilities at fair value	22,114	27,489
Level Two | Cross currency swap agreements | Not Designated as Hedging Instrument
Assets:
Derivative assets	3,649	2,261
Liabilities:
Derivative liabilities	2,528	1,769
Level Two | Cross currency swap agreements | Designated as hedging instruments
Liabilities:
Derivative liabilities	15,054	22,232
Level Two | Interest rate swap agreements
Assets:
Derivative assets	4,215	9,522
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. 28, 2024	Mar. 29, 2024	Jun. 30, 2023	Mar. 31, 2023
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	$ 1,682,378	$ 1,647,657	$ 1,458,291	$ 1,388,458
Net actuarial loss			(2)	(2)
Foreign currency translation adjustment	(22,350)	(33,027)	(9,466)	29,082
Gain on long-term intra-entity foreign currency transactions	8,162	7,996	23,142	12,501
Unrealized gain on cash flow hedges	811	3,920	7,640	(2,051)
Other comprehensive income (loss) before reclassifications	(13,377)	(21,111)	21,314	39,530
Amounts reclassified from Accumulated other comprehensive loss	(2,335)	(2,278)	(1,220)	(1,251)
Net current period Other comprehensive (loss) income	(15,712)	(23,389)	20,094	38,279
Ending balance	1,749,425	1,682,378	1,546,725	1,458,291
Total
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	(647,661)	(624,272)	(636,709)	(674,988)
Ending balance	(663,373)	(647,661)	(616,615)	(636,709)
Net Unrecognized Pension and Other Post-Retirement Benefit Cost
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	(58,933)	(59,805)	(63,678)	(63,847)
Net actuarial loss			(2)	(2)
Foreign currency translation adjustment	6	243	(49)	(108)
Gain on long-term intra-entity foreign currency transactions	0	0	0	0
Unrealized gain on cash flow hedges	0	0	0	0
Other comprehensive income (loss) before reclassifications	(6)	(243)	(51)	110
Amounts reclassified from Accumulated other comprehensive loss	327	629	889	279
Net current period Other comprehensive (loss) income	333	872	838	169
Ending balance	(58,600)	(58,933)	(62,840)	(63,678)
Foreign Currency Translation Adjustment
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	(584,891)	(554,622)	(570,130)	(613,907)
Net actuarial loss			0	0
Foreign currency translation adjustment	(23,042)	(38,265)	(6,381)	31,276
Gain on long-term intra-entity foreign currency transactions	8,162	7,996	23,142	12,501
Unrealized gain on cash flow hedges	0	0	0	0
Other comprehensive income (loss) before reclassifications	14,880	30,269	16,761	(43,777)
Amounts reclassified from Accumulated other comprehensive loss	0	0	0	0
Net current period Other comprehensive (loss) income	(14,880)	(30,269)	16,761	43,777
Ending balance	(599,771)	(584,891)	(553,369)	(570,130)
Net Investment Hedges
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	(12,220)	(17,215)	(10,422)	(8,336)
Net actuarial loss			0	0
Foreign currency translation adjustment	686	4,995	(3,036)	(2,086)
Gain on long-term intra-entity foreign currency transactions	0	0	0	0
Unrealized gain on cash flow hedges	0	0	0	0
Other comprehensive income (loss) before reclassifications	(686)	(4,995)	3,036	2,086
Amounts reclassified from Accumulated other comprehensive loss	0	0	0	0
Net current period Other comprehensive (loss) income	686	4,995	(3,036)	(2,086)
Ending balance	(11,534)	(12,220)	(13,458)	(10,422)
Cash Flow Hedges
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	8,383	7,370	7,521	11,102
Net actuarial loss			0	0
Foreign currency translation adjustment	0	0	0	0
Gain on long-term intra-entity foreign currency transactions	0	0	0	0
Unrealized gain on cash flow hedges	811	3,920	7,640	(2,051)
Other comprehensive income (loss) before reclassifications	(811)	(3,920)	(7,640)	2,051
Amounts reclassified from Accumulated other comprehensive loss	(2,662)	(2,907)	(2,109)	(1,530)
Net current period Other comprehensive (loss) income	(1,851)	1,013	5,531	(3,581)
Ending balance	$ 6,532	$ 8,383	$ 13,052	$ 7,521

Commitments and Contingencies -

Commitments and Contingencies - Narrative (Details)	6 Months Ended
	Jun. 28, 2024
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. 28, 2024	Jun. 30, 2023
Loss Contingency Accrual [Roll Forward]
Claims unresolved, beginning of period	13,648	14,106
Claims filed	2,517	2,209
Claims resolved	(1,447)	(1,551)
Claims unresolved, end of period	14,718	14,764

Commitments and Contingencies_3

Commitments and Contingencies - Asbestos Litigation (Details) - USD ($) $ in Thousands	Jun. 28, 2024	Dec. 31, 2023
Commitments and Contingencies Disclosure [Abstract]
Long-term asbestos liability	$ 211,970	$ 234,796
Loss Contingency, Receivable, Current	204,672	221,489
Loss Contingency, Receivable, Noncurrent	19,524	17,868
Loss Contingency, Accrual, Current	35,254	32,908
Loss Contingency, Accrual, Noncurrent	$ 211,970	$ 234,796

Segment Information - Narrative

Segment Information - Narrative (Details)	6 Months Ended
	Jun. 28, 2024 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. 28, 2024	Jun. 30, 2023	Jun. 28, 2024	Jun. 30, 2023
Net sales	$ 707,053	$ 720,422	$ 1,396,797	$ 1,404,422
Adjusted EBITA	140,973	132,073	270,110	250,062
Net income from continuing operations	85,530	68,846	148,433	102,975
Income tax expense	17,885	20,974	36,389	57,998
Interest expense and other, net	15,940	18,819	33,031	38,329
Restructuring and other related charges	4,773	5,169	6,697	14,613
Acquisition - amortization and other related charges	7,730	9,252	15,507	18,541
Depreciation and other amortization	9,115	9,013	17,898	17,606
Pension settlement loss	0	0	12,155	0
Americas Segment
Net sales	309,765	310,278	605,812	601,847
Adjusted EBITA	64,684	58,263	118,782	107,705
EMEA and APAC Segment
Net sales	397,288	410,144	790,985	802,575
Adjusted EBITA	$ 76,289	$ 73,810	151,328	$ 142,357
Restructuring and other related charges			$ 6,697

Subsequent Events (Details)

Subsequent Events (Details) - USD ($) $ in Millions	Jul. 02, 2024	Apr. 30, 2024	Jun. 28, 2024
Subsequent Event [Line Items]
Dividends payable included in accrued liabilities			$ 4.9
SUMIG Soluções para Solda Ltda
Subsequent Event [Line Items]
Purchase price for business combination agreement		$ 74
Subsequent Event | Linde Industries Private Limited
Subsequent Event [Line Items]
Purchase price for business combination agreement	$ 77