Lincoln Electric (LECO) 10-Q 1 Nov 13 2013 Q3 Quarterly report Financial data

Document_and_Entity_Informatio

Document and Entity Information	9 Months Ended
	Sep. 30, 2013
Document and Entity Information	'
Entity Registrant Name	'LINCOLN ELECTRIC HOLDINGS INC
Entity Central Index Key	'0000059527
Document Type	'10-Q
Document Period End Date	30-Sep-13
Amendment Flag	'false
Current Fiscal Year End Date	'--12-31
Entity Current Reporting Status	'Yes
Entity Filer Category	'Large Accelerated Filer
Entity Common Stock, Shares Outstanding	81,614,694
Document Fiscal Year Focus	'2013
Document Fiscal Period Focus	'Q3

CONSOLIDATED_STATEMENTS_OF_INC

CONSOLIDATED STATEMENTS OF INCOME (USD $)	3 Months Ended		9 Months Ended
In Thousands, except Per Share data, unless otherwise specified	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012
Income Statement [Abstract]	'	'	'	'
Net sales	$691,875	$697,552	$2,137,880	$2,168,719
Cost of goods sold	459,178	484,190	1,438,273	1,515,095
Gross profit	232,697	213,362	699,607	653,624
Selling, general & administrative expenses	131,217	121,602	403,323	372,931
Rationalization and asset impairment charges	6,302	3,059	8,204	4,317
Operating income	95,178	88,701	288,080	276,376
Other income (expense):	'	'	'	'
Interest income	536	916	2,452	2,648
Equity earnings in affiliates	1,170	1,566	3,687	4,264
Other income	1,514	746	3,141	2,015
Interest expense	-558	-1,040	-2,307	-3,338
Total other income	2,662	2,188	6,973	5,589
Income before income taxes	97,840	90,889	295,053	281,965
Income taxes	33,588	26,153	91,431	86,715
Net income including non-controlling interests	64,252	64,736	203,622	195,250
Non-controlling interests in subsidiaries’ loss	-1,792	-29	-1,834	-77
Net income	$66,044	$64,765	$205,456	$195,327
Basic earnings per share (in dollars per share)	$0.81	$0.78	$2.50	$2.35
Diluted earnings per share (in dollars per share)	$0.80	$0.77	$2.47	$2.32
Cash dividends declared per share (in dollars per share)	$0.20	$0.17	$0.60	$0.51

CONSOLIDATED_STATEMENTS_OF_COM

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (USD $)	3 Months Ended		9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012
Statement of Comprehensive Income [Abstract]	'	'	'	'
Net income including non-controlling interests	$64,252	$64,736	$203,622	$195,250
Other comprehensive income (loss), net of tax:	'	'	'	'
Unrealized loss on derivatives designated and qualifying as cash flow hedges, net of tax of $276 and $(55) in the three and nine months ended September 30, 2013; $147 and $148 in the three and nine months ended September 30, 2012	-734	-5	-147	-564
Defined benefit pension plan activity, net of tax of $2,050 and $8,232 in the three and nine months ended September 30, 2013; $2,755 and $8,593 in the three and nine months ended September 30, 2012	4,314	4,794	14,391	14,009
Currency translation adjustment	19,891	16,928	-15,209	11,958
Other comprehensive income (loss):	23,471	21,717	-965	25,403
Comprehensive income	87,723	86,453	202,657	220,653
Comprehensive (loss) income attributable to non-controlling interests	-1,678	179	-1,769	-389
Comprehensive income attributable to shareholders	$89,401	$86,274	$204,426	$221,042

CONSOLIDATED_STATEMENTS_OF_COM1

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Parenthetical) (USD $)	3 Months Ended		9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012
Unrealized (loss) gain on derivatives designated and qualifying as cash flow hedges, tax (benefit)	$276	$147	($55)	$148
Unrecognized amounts from defined benefit pension plans, tax	$2,050	$2,755	$8,232	$8,593

CONDENSED_CONSOLIDATED_BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS (USD $)	Sep. 30, 2013	Dec. 31, 2012
In Thousands, unless otherwise specified
ASSETS	'	'
Cash and cash equivalents	$330,309	$286,464
Accounts receivable (less allowance for doubtful accounts of $8,445 in 2013; $8,654 in 2012)	375,224	360,662
Inventories:	'	'
Raw materials	108,698	119,963
Work-in-process	45,794	41,805
Finished goods	215,371	203,122
Total inventory	369,863	364,890
Other current assets	107,253	120,800
Total Current Assets	1,182,649	1,132,816
Property, Plant and Equipment	'	'
Land	45,539	44,510
Buildings	367,090	343,867
Machinery and equipment	720,913	732,461
Property, Plant and Equipment, Gross	1,133,542	1,120,838
Less accumulated depreciation	654,869	634,602
Property, Plant and Equipment, Net	478,673	486,236
Non-current assets	458,319	470,811
TOTAL ASSETS	2,119,641	2,089,863
LIABILITIES AND EQUITY	'	'
Amounts due banks	14,469	18,220
Trade accounts payable	177,006	209,647
Other current liabilities	289,297	211,944
Current portion of long-term debt	423	456
Total Current Liabilities	481,195	440,267
Long-Term Liabilities	'	'
Long-term debt, less current portion	1,251	1,599
Accrued pensions	127,085	216,189
Other long-term liabilities	81,291	73,487
Total Long-Term Liabilities	209,627	291,275
Shareholders’ Equity	'	'
Common shares	9,858	9,858
Additional paid-in capital	230,086	205,124
Retained earnings	1,838,770	1,682,668
Accumulated other comprehensive loss	-236,430	-235,400
Treasury shares	-427,644	-319,877
Total Shareholders’ Equity	1,414,640	1,342,373
Non-controlling interests	14,179	15,948
Total Equity	1,428,819	1,358,321
TOTAL LIABILITIES AND EQUITY	$2,119,641	$2,089,863

CONDENSED_CONSOLIDATED_BALANCE1

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) (USD $)	Sep. 30, 2013	Dec. 31, 2012
In Thousands, unless otherwise specified
Statement of Financial Position [Abstract]	'	'
Accounts receivable, allowance for doubtful accounts	$8,445	$8,654

CONSOLIDATED_STATEMENTS_OF_CAS

CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)	9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2013	Sep. 30, 2012
CASH FLOWS FROM OPERATING ACTIVITIES	'	'
Net income	$205,456	$195,327
Non-controlling interests in subsidiaries’ loss	-1,834	-77
Net income including non-controlling interests	203,622	195,250
Adjustments to reconcile Net income including non-controlling interests to Net cash provided by operating activities:	'	'
Rationalization and asset impairment charges	5,049	357
Depreciation and amortization	51,881	48,220
Equity earnings in affiliates, net	-1,313	-1,449
Deferred income taxes	21,023	-288
Stock-based compensation	7,511	6,711
Pension expense	22,261	26,590
Pension contributions and payments	-84,417	-57,814
Other, net	1,223	-512
Changes in operating assets and liabilities, net of effects from acquisitions:	'	'
(Increase) decrease in accounts receivable	-17,982	13,750
Increase in inventories	-9,889	-6,832
Decrease (increase) in other current assets	10,860	-12,180
Decrease in trade accounts payable	-32,703	-1,182
Increase in other current liabilities	64,767	85,593
Net change in other long-term assets and liabilities	198	-52,873
NET CASH PROVIDED BY OPERATING ACTIVITIES	242,091	243,341
CASH FLOWS FROM INVESTING ACTIVITIES	'	'
Capital expenditures	-59,691	-39,307
Acquisition of businesses, net of cash acquired	-4,936	-52,851
Proceeds from sale of property, plant and equipment	796	538
Other Investing Activities	-4,217	-1,541
NET CASH USED BY INVESTING ACTIVITIES	-68,048	-93,161
CASH FLOWS FROM FINANCING ACTIVITIES	'	'
Proceeds from short-term borrowings	788	2,291
Payments on short-term borrowings	-1,732	-3,813
Amounts due banks, net	-1,110	-1,858
Proceeds from long-term borrowings	0	914
Payments on long-term borrowings	-297	-85,535
Proceeds from exercise of stock options	16,077	12,695
Excess tax benefits from stock-based compensation	6,973	5,594
Purchase of shares for treasury	-113,641	-60,155
Cash dividends paid to shareholders	-32,987	-42,510
Other Financing Activities	-2,809	0
NET CASH USED BY FINANCING ACTIVITIES	-128,738	-172,377
Effect of exchange rate changes on Cash and cash equivalents	-1,460	1,771
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS	43,845	-20,426
Cash and cash equivalents at beginning of period	286,464	361,101
CASH AND CASH EQUIVALENTS AT END OF PERIOD	$330,309	$340,675

BASIS_OF_PRESENTATION

BASIS OF PRESENTATION	9 Months Ended
	Sep. 30, 2013
Organization, Consolidation and Presentation of Financial Statements [Abstract]	'
BASIS OF PRESENTATION	'
	BASIS OF PRESENTATION
	As used in this report, the term “Company,” except as otherwise indicated by the context, means Lincoln Electric Holdings, Inc. and its wholly-owned and majority-owned subsidiaries for which it has a controlling interest.  The accompanying unaudited consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States (“GAAP”) for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X.  Accordingly, these unaudited consolidated financial statements do not include all of the information and notes required by GAAP for complete financial statements.  However, in the opinion of management, these unaudited consolidated financial statements contain all the adjustments (consisting of normal recurring accruals) considered necessary to present fairly the financial position, results of operations and cash flows for the interim periods.  Operating results for the nine months ended September 30, 2013 are not necessarily indicative of the results to be expected for the year ending December 31, 2013.
	The accompanying Consolidated Balance Sheet at December 31, 2012 has been derived from the audited financial statements at that date, but does not include all of the information and notes required by GAAP for complete financial statements.  For further information, refer to the consolidated financial statements and notes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2012.
	Certain reclassifications have been made to the prior year financial statements to conform to current year classifications.
	Venezuela — Highly Inflationary Economy
	Venezuela is a highly inflationary economy under GAAP.  As a result, the financial statements of the Company’s Venezuelan operation are reported under highly inflationary accounting rules as of January 1, 2010.  Under highly inflationary accounting, the financial statements of the Company’s Venezuelan operation have been remeasured into the Company’s reporting currency and exchange gains and losses from the remeasurement of monetary assets and liabilities are reflected in current earnings.  On February 8, 2013, the Venezuelan government announced the devaluation of its currency relative to the U.S. dollar. Effective February 13, 2013, the non-essential rate moved from 4.3 to 6.3 bolivars to the U.S. dollar. The devaluation of the bolivar resulted in a foreign currency transaction loss of $8,081 in Selling, general & administrative expenses and higher Cost of goods sold of $4,117 due to the liquidation of inventory valued at the historical exchange rate.
	Future impacts to earnings of applying highly inflationary accounting for Venezuela on the Company’s consolidated financial statements will be dependent upon movements in the applicable exchange rates between the bolivar and the U.S. dollar and the amount of monetary assets and liabilities included in the Company’s Venezuelan operation’s balance sheet.  The bolivar-denominated monetary net asset position was $19,104 at September 30, 2013 and $31,545 at December 31, 2012.

EARNINGS_PER_SHARE

EARNINGS PER SHARE	9 Months Ended
	Sep. 30, 2013
Earnings Per Share [Abstract]	'
EARNINGS PER SHARE	'
	EARNINGS PER SHARE
	The following table sets forth the computation of basic and diluted earnings per share:
		Three Months Ended September 30,				Nine Months Ended September 30,
		2013		2012		2013		2012
	Numerator:
	Net income	$	66,044	$	64,765	$	205,456	$	195,327
	Denominator:
	Basic weighted average shares outstanding	81,644		82,918		82,260		83,233
	Effect of dilutive securities - Stock options and awards	1,063		998		1,054		1,093
	Diluted weighted average shares outstanding	82,707		83,916		83,314		84,326
	Basic earnings per share	$	0.81	$	0.78	$	2.5	$	2.35
	Diluted earnings per share	$	0.8	$	0.77	$	2.47	$	2.32
	For the three months ended September 30, 2013 and 2012, common shares subject to equity-based awards of 44,026 and 461,093, respectively, were excluded from the computation of diluted earnings per share because the effect of their exercise would be anti-dilutive. For the nine months ended September 30, 2013 and 2012, common shares subject to equity-based awards of 420,584 and 46,678, respectively, were excluded from the computation of diluted earnings per share because the effect of their exercise would be anti-dilutive.

NEW_ACCOUNTING_PRONOUNCEMENTS

NEW ACCOUNTING PRONOUNCEMENTS	9 Months Ended
	Sep. 30, 2013
New Accounting Pronouncements and Changes in Accounting Principles [Abstract]	'
NEW ACCOUNTING PRONOUNCEMENTS	'
	NEW ACCOUNTING PRONOUNCEMENTS
	New Accounting Standards to be Adopted:
	In July 2013, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") No. 2013-11, "Income Taxes (Topic 740): Presentation of an Unrecognized Tax Benefit When a Net Operating Loss Carryforward, a Similar Tax Loss, or a Tax Credit Carryforward Exists." ASU 2013-11 requires an entity to present an unrecognized tax benefit in the financial statements as a reduction to a deferred tax asset for a net operating loss carryforward, a similar tax loss or a tax credit carryforward, with limited exceptions. The amendments are effective for fiscal years, and interim periods within those years, beginning after December 15, 2013. Early adoption and retrospective application is permitted. The Company is currently evaluating the impact of the adoption of ASU 2013-11, but does not expect it will have a significant impact on the Company's financial statements.
	In March 2013, the FASB issued ASU No. 2013-05, "Foreign Currency Matters (Topic 830): Parent's Accounting for the Cumulative Translation Adjustment upon Derecognition of Certain Subsidiaries or Groups of Assets within a Foreign Entity or of an Investment in a Foreign Entity." ASU 2013-05 clarifies the applicable guidance for the release of the cumulative translation adjustment under current U.S. GAAP by emphasizing that the accounting for the release of the cumulative translation adjustment into net income for sales or transfers of a controlling financial interest within a foreign entity is the same irrespective of whether the sale or transfer is of a subsidiary or a group of assets that is a nonprofit activity or business. When a reporting entity ceases to have a controlling financial interest in a subsidiary or group of assets that is a nonprofit activity or a business within a foreign entity, the parent is required to apply the guidance in Subtopic 830-30 to release any related cumulative translation adjustment into net income. The amendments are effective prospectively for fiscal years (and interim reporting periods within those years) beginning after December 15, 2013. The Company is currently evaluating the impact of the adoption of ASU 2013-05 on the Company's financial statements.

ACQUISITIONS

ACQUISITIONS	9 Months Ended
	Sep. 30, 2013
Business Combinations [Abstract]	'
ACQUISITIONS	'
	ACQUISITIONS
	On December 31, 2012, the Company completed the acquisition of the privately-held automated systems and tooling manufacturer, Tennessee Rand, Inc. ("Tenn Rand").  Tenn Rand, based in Chattanooga, Tennessee, is a leader in the design and manufacture of tooling and robotic systems for welding applications. The acquisition added tool design, system building and machining capabilities that will enable the Company to further expand its welding automation business. Annual sales for Tenn Rand in 2012 were approximately $35,000.
	On November 13, 2012, the Company completed the acquisition of the Kaliburn, Burny and Cleveland Motion Control businesses (collectively, "Kaliburn") from ITT Corporation. Kaliburn, headquartered in Ladson, South Carolina, is a designer and manufacturer of shape cutting solutions, producer of shape cutting control systems and manufacturer of web tension transducers and engineered machine systems. The acquisitions added to the Company's cutting business portfolio. Annual sales for Kaliburn at the date of acquisition were approximately $36,000.
	On May 17, 2012, the Company completed the acquisition of Wayne Trail Technologies, Inc. (“Wayne Trail”).  Wayne Trail, based in Ft. Loramie, Ohio, is a manufacturer of automated systems and tooling, serving a wide range of applications in the metal processing market.  The acquisition added to the Company’s welding and automated solutions portfolio.  Annual sales for Wayne Trail at the date of acquisition were approximately $50,000.
	On March 6, 2012, the Company completed the acquisition of Weartech International, Inc. (“Weartech”).  Weartech, based in Anaheim, California, is a producer of cobalt-based hard facing and wear-resistant welding consumables.  The acquisition added to the Company’s consumables portfolio.  Sales for Weartech during 2011 were approximately $40,000.
	The Company acquired Tenn Rand, Kaliburn, Wayne Trail and Weartech for approximately $143,456 in cash, net of cash acquired and assumed debt. The fair value of net assets acquired was $71,727, resulting in goodwill of $71,729. The purchase price allocations for some of the acquisitions are preliminary and subject to final opening balance sheet adjustments.
	Pro forma information related to these acquisitions has not been presented because the impact on the Company’s Consolidated Statements of Income is not material.  Acquired companies are included in the Company’s consolidated financial statements as of the date of acquisition.

SEGMENT_INFORMATION

SEGMENT INFORMATION	9 Months Ended
	Sep. 30, 2013
Segment Reporting [Abstract]	'
SEGMENT INFORMATION	'
	SEGMENT INFORMATION
	The Company’s primary business is the design and manufacture of arc welding and cutting products, manufacturing a broad line of arc welding equipment, consumable welding products and other welding and cutting products.  The Company also has a leading global position in the brazing and soldering alloys market.  The Company has aligned its business units into five operating segments to enhance the utilization of the Company’s worldwide resources and global end user and sourcing initiatives.  The operating segments consist of North America Welding, Europe Welding, Asia Pacific Welding, South America Welding and The Harris Products Group.  The North America Welding segment includes welding operations in the United States, Canada and Mexico.  The Europe Welding segment includes welding operations in Europe, Russia, Africa and the Middle East.  The other two welding segments include welding operations in Asia Pacific and South America, respectively.  The fifth segment, The Harris Products Group, includes the Company’s global cutting, soldering and brazing businesses as well as the retail business in the United States.
	Segment performance is measured and resources are allocated based on a number of factors, the primary profit measure being earnings before interest and income taxes (“EBIT”), as adjusted.  Segment EBIT is adjusted for special items as determined by management such as the impact of rationalization activities, certain asset impairment charges and gains or losses on disposals of assets.
	Financial information for the reportable segments follows:
		North			Europe		Asia			South		The Harris		Corporate /			Consolidated
		America			Welding		Pacific			America		Products		Eliminations
		Welding					Welding			Welding		Group
	Three Months Ended September 30, 2013
	Net sales	$	404,113		$	98,522	$	63,834		$	51,715	$	73,691	$	—		$	691,875
	Inter-segment sales	35,355			5,256		3,821			151		2,311		(46,894		)	—
	Total	$	439,468		$	103,778	$	67,655		$	51,866	$	76,002	$	(46,894	)	$	691,875
	EBIT, as adjusted	$	75,225		$	7,881	$	(979	)	$	15,942	$	6,917	$	(822	)	$	104,164
	Special items charge	(17		)	1,595		4,724			—		—		—			6,302
	EBIT	$	75,242		$	6,286	$	(5,703	)	$	15,942	$	6,917	$	(822	)	$	97,862
	Interest income																536
	Interest expense																(558		)
	Income before income taxes																$	97,840
	Three Months Ended September 30, 2012
	Net sales	$	390,327		$	104,480	$	76,263		$	44,545	$	81,937	$	—		$	697,552
	Inter-segment sales	28,186			3,261		2,748			27		1,869		(36,091		)	—
	Total	$	418,513		$	107,741	$	79,011		$	44,572	$	83,806	$	(36,091	)	$	697,552
	EBIT, as adjusted	$	70,797		$	8,515	$	2,054		$	7,587	$	7,739	$	(2,620	)	$	94,072
	Special items charge	477			1,874		708			—		—		—			3,059
	EBIT	$	70,320		$	6,641	$	1,346		$	7,587	$	7,739	$	(2,620	)	$	91,013
	Interest income																916
	Interest expense																(1,040		)
	Income before income taxes																$	90,889
	Nine Months Ended September 30, 2013
	Net sales	$	1,242,736		$	317,674	$	203,112		$	132,592	$	241,766	$	—		$	2,137,880
	Inter-segment sales	99,869			13,865		12,579			222		7,209		(133,744		)	—
	Total	$	1,342,605		$	331,539	$	215,691		$	132,814	$	248,975	$	(133,744	)	$	2,137,880
	EBIT, as adjusted	$	234,662		$	28,114	$	1,967		$	32,119	$	21,411	$	(2,963	)	$	315,310
	Special items charge	1,109			1,664		5,431			12,198		—		—			20,402
	EBIT	$	233,553		$	26,450	$	(3,464	)	$	19,921	$	21,411	$	(2,963	)	$	294,908
	Interest income																2,452
	Interest expense																(2,307		)
	Income before income taxes																$	295,053
	Total assets	$	979,043		$	415,387	$	329,117		$	145,672	$	186,474	$	63,948		$	2,119,641
	Nine months ended September 30, 2012
	Net sales	$	1,187,879		$	344,720	$	254,259		$	121,552	$	260,309	$	—		$	2,168,719
	Inter-segment sales	101,386			12,178		11,641			38		6,605		(131,848		)	—
	Total	$	1,289,265		$	356,898	$	265,900		$	121,590	$	266,914	$	(131,848	)	$	2,168,719
	EBIT, as adjusted	$	216,872		$	32,317	$	8,641		$	13,472	$	23,933	$	(6,882	)	$	288,353
	Special items charge	554			2,466		1,297			1,381		—		—			5,698
	EBIT	$	216,318		$	29,851	$	7,344		$	12,091	$	23,933	$	(6,882	)	$	282,655
	Interest income																2,648
	Interest expense																(3,338		)
	Income before income taxes																$	281,965
	Total assets	$	909,827		$	460,586	$	358,626		$	128,658	$	203,536	$	30,289		$	2,091,522
	In the third quarter 2013, special items include net charges of $1,595 and $49 for rationalization actions in the Europe Welding and Asia Pacific Welding segments, respectively, and a net gain of $17 in the North America Welding segment primarily related to employee severance and other costs associated with the consolidation of manufacturing operations. The Asia Pacific Welding segment special items also include charges of $4,675 related to impairment of long-lived assets.
	In the third quarter 2012, special items include charges of $477, $1,914 and $311 for rationalization actions in the North America Welding, Europe Welding and Asia Pacific Welding segments, respectively, primarily related to employee severance and other costs associated with the consolidation of manufacturing operations. The Asia Pacific Welding segment special items also include a charge of $397 related to asset impairments.
	In the nine months ended September 30, 2013, special items include net charges of $1,109, $1,664 and $756 in the North America Welding, Europe Welding and Asia Pacific Welding segments, respectively, primarily related to employee severance and other costs associated with the consolidation of manufacturing operations.  The Asia Pacific Welding segment special items also include charges of $4,675 related to impairment of long-lived assets. The South America Welding segment special items represent charges of $12,198 related to the devaluation of the Venezuelan currency.
	In the nine months ended September 30, 2012, special items include charges of $554, $2,506 and $900 for rationalization actions in the North America Welding, Europe Welding and Asia Pacific Welding segments, respectively, primarily related to employee severance and other costs associated with the consolidation of manufacturing operations. The Asia Pacific Welding segment special items also include a charge of $397 related to asset impairments. The South America Welding segment special item represents a charge of $1,381 related to a change in Venezuelan labor law, which provides for increased employee severance obligations.

RATIONALIZATION_AND_ASSET_IMPA

RATIONALIZATION AND ASSET IMPAIRMENTS	9 Months Ended
	Sep. 30, 2013
Restructuring and Related Activities [Abstract]	'
RATIONALIZATION AND ASSET IMPAIRMENTS	'
	RATIONALIZATION AND ASSET IMPAIRMENTS
	The Company recorded net rationalization charges of $8,204 for the nine months ended September 30, 2013. The charges include $3,479 primarily related to employee severance and $4,881 in asset impairment charges, partially offset by gains of $156 related to sale of assets.  A description of each restructuring plan and the related costs follows:
	North America Welding Plans:
	During 2012, the Company initiated various rationalization plans within the North America Welding segment. Plans for the segment include consolidating its Oceanside, California operations and its Reno, Nevada operations to another facility in Reno, Nevada and consolidating its Baltimore, Maryland manufacturing operations into its current manufacturing operations in Cleveland, Ohio.  These actions impacted 72 employees within the North America Welding segment.  During the nine months ended September 30, 2013, the Company recorded charges of $1,109, which represent employee severance and other related costs. At September 30, 2013, a liability relating to these actions of $614 was recognized in Other current liabilities, which will be substantially paid in 2013. Additional charges related to the completion of this plan are expected to be immaterial.
	Europe Welding Plans:
	The Company initiated a rationalization plan within the Europe Welding segment to consolidate certain consumable manufacturing operations. These actions are expected to impact 56 employees within the Europe Welding segment. During the nine months ended September 30, 2013, the Company recorded charges of $1,518 related to these activities which represents employee severance and other related costs. At September 30, 2013, a liability relating to these actions of $1,518 was recognized in Other current liabilities. The Company expects to incur additional charges in the range of $600 to $1,500 related to the completion of this plan.
	During 2012, the Company initiated various rationalization plans within the Europe Welding segment. Plans for the segment include the consolidation of manufacturing facilities in Russia, relocation of its Italian machine manufacturing operations to current facilities in Poland and headcount restructuring at various other manufacturing operations within the segment to better align the cost structure and capacity requirements with current economic needs and conditions. These actions impacted 285 employees within the Europe Welding segment. During the nine months ended September 30, 2013, the Company recorded net charges of $146 related to these activities.  The amount represents employee severance and other related costs partially offset by a gain on sale of assets.  At September 30, 2013, a liability relating to these actions of $1,315 was recognized in Other current liabilities, which will be substantially paid in 2013.  Additional charges related to the completion of this plan are expected to be immaterial.
	Asia Pacific Welding Plans:
	During 2012, the Company initiated various rationalization plans within the Asia Pacific Welding segment. Plans for the segment include the rationalization of its Australian manufacturing operations and headcount restructuring at various other manufacturing operations within the segment to better align the cost structure and capacity requirements with current economic needs and conditions. These actions impacted 268 employees within the Asia Pacific Welding segment. During the nine months ended September 30, 2013, the Company recorded net charges of $756, which represent employee severance and other related costs of $704 and asset impairment charges of $206, partially offset by gains of $154 from the sale of assets.  At September 30, 2013, a liability relating to these actions of $461 was recognized in Other current liabilities, which will be substantially paid in 2013.  Additional charges related to the completion of this plan are expected to be immaterial.
	The Company continues evaluating its cost structure and additional rationalization actions may result in charges in future periods.
	In the third quarter 2013, the Company recorded long-lived asset impairment charges of $4,675 in Rationalization and asset impairment charges. The charge is the result of the Company removing capacity to align itself with current market conditions and improve operating efficiency.
	The following tables summarize the activity related to the rationalization liabilities by segment for the nine months ended September 30, 2013:
		North			Europe			Asia Pacific			Consolidated
		America			Welding			Welding
		Welding
	Balance, December 31, 2012	$	—		$	2,013		$	1,044		$	3,057
	Payments and other adjustments	(495		)	(846		)	(1,287		)	(2,628		)
	Charged to expense	1,109			1,666			704			3,479
	Balance, September 30, 2013	$	614		$	2,833		$	461		$	3,908

COMMON_SHARE_REPURCHASE_PROGRA

COMMON SHARE REPURCHASE PROGRAM	9 Months Ended
	Sep. 30, 2013
COMMON SHARE REPURCHASE PROGRAM	'
COMMON SHARE REPURCHASE PROGRAM	'
	COMMON SHARE REPURCHASE PROGRAM
	As of September 30, 2013, the Company had a share repurchase program for up to 45 million of the Company’s common shares.  At management’s discretion, the Company repurchases its common shares from time to time in the open market, depending on market conditions, stock price and other factors.  During the three and nine month periods ended September 30, 2013, the Company purchased an aggregate of 710,726 and 1,923,142 common shares, respectively, in the open market under this program.  As of September 30, 2013, there remained 16,419,231 common shares available for repurchase under this program.  The repurchased common shares remain in treasury and have not been retired.

ACCUMULATED_OTHER_COMPREHENSIV

ACCUMULATED OTHER COMPREHENSIVE (LOSS) INCOME	9 Months Ended
	Sep. 30, 2013
Comprehensive Income (Loss), Net of Tax, Attributable to Parent [Abstract]	'
ACCUMULATED OTHER COMPREHENSIVE (LOSS) INCOME	'
	ACCUMULATED OTHER COMPREHENSIVE (LOSS) INCOME ("AOCI")
	The following tables set forth the total changes in AOCI by component, net of taxes, for the three months ended September 30, 2013 and 2012:
			Three Months Ended September 30, 2013
			Unrealized (loss) gain on derivatives designated and qualifying as cash flow hedges				Defined benefit pension plan activity				Currency translation adjustment				Total
	Balance at June 30, 2013		$	667			$	(251,767	)		$	(8,687	)		$	(259,787	)
	Other comprehensive (loss) income		(1,203		)		—				19,808			3	18,605
	before reclassification
	Amounts reclassified from AOCI		469			1	4,314			2	(31		)	3	4,752
	Net current-period other		(734		)		4,314				19,777				23,357
	comprehensive (loss) income
	Balance at September 30, 2013		$	(67	)		$	(247,453	)		$	11,090			$	(236,430	)
			Three Months Ended September 30, 2012
			Unrealized (loss) gain on derivatives designated and qualifying as cash flow hedges				Defined benefit pension plan activity				Currency translation adjustment				Total
	Balance at June 30, 2012		$	353			$	(246,154	)		$	2,126			$	(243,675	)
	Other comprehensive (loss) income		(167		)		—				16,775			3	16,608
	before reclassification
	Amounts reclassified from AOCI		162			1	4,794			2	(55		)	3	4,901
	Net current-period other		(5		)		4,794				16,720				21,509
	comprehensive (loss) income
	Balance at September 30, 2012		$	348			$	(241,360	)		$	18,846			$	(222,166	)
	_______________________________________________________________________________
	1	During the 2013 period, this AOCI reclassification is a component of Net sales of $165 (net of tax of $29) and Cost of goods sold of $304 (net of tax of $145); during the 2012 period, the reclassification is a component of Net sales of $127 (net of tax of $13) and Cost of goods sold of $35 (net of tax of $59). (See Note 17 - Derivatives for additional details.)
	2	This AOCI component is included in the computation of net periodic pension costs (net of tax of $2,050 and $2,755 during the three months ended September 30, 2013 and 2012, respectively). (See Note 15 - Retirement and Postretirement Benefit Plans for additional details.)
	3	The Other comprehensive income before reclassifications excludes $114 and $207 attributable to Non-controlling interests in the three months ended September 30, 2013 and 2012, respectively. The reclassified AOCI component is included in the computation of Non-controlling interests. (See Note 9 - Equity for additional details.)
	The following tables set forth the total changes in AOCI by component, net of taxes for the nine months ended September 30, 2013 and 2012:
			Nine Months Ended September 30, 2013
			Unrealized (loss) gain on derivatives designated and qualifying as cash flow hedges				Defined benefit pension plan activity				Currency translation adjustment				Total
	Balance at December 31, 2012		$	80			$	(261,844	)		$	26,364			$	(235,400	)
	Other comprehensive (loss) income		(1,067		)		—				(15,408		)	6	(16,475		)
	before reclassification
	Amounts reclassified from AOCI		920			4	14,391			5	134			6	15,445
	Net current-period other		(147		)		14,391				(15,274		)		(1,030		)
	comprehensive (loss) income
	Balance at September 30, 2013		$	(67	)		$	(247,453	)		$	11,090			$	(236,430	)
			Nine months ended September 30, 2012
			Unrealized (loss) gain on derivatives designated and qualifying as cash flow hedges				Defined benefit pension plan activity				Currency translation adjustment				Total
	Balance at December 31, 2011		$	912			$	(255,369	)		$	6,576			$	(247,881	)
	Other comprehensive (loss) income		(1,243		)		—				12,000			6	10,757
	before reclassification
	Amounts reclassified from AOCI		679			4	14,009			5	270			6	14,958
	Net current-period other		(564		)		14,009				12,270				25,715
	comprehensive (loss) income
	Balance at September 30, 2012		$	348			$	(241,360	)		$	18,846			$	(222,166	)
	4	During the 2013 period, this AOCI reclassification is a component of Net sales of $467 (net of tax of $78) and Cost of goods sold of $453 (net of tax of $136); during the 2012 period, the reclassification is a component of Net sales of $591 (net of tax of $104) and Cost of goods sold of $88 (net of tax of $164). (See Note 17 - Derivatives for additional details.)
	5	This AOCI component is included in the computation of net periodic pension costs (net of tax of $8,232 and $8,593 during the nine months ended September 30, 2013 and 2012, respectively). (See Note 15 - Retirement and Postretirement Benefit Plans for additional details.)
	6	The Other comprehensive income before reclassifications excludes $65 and $312 attributable to Non-controlling interests in the nine months ended September 30, 2013 and 2012, respectively. The reclassified AOCI component is included in the computation of Non-controlling interests. (See Note 9 - Equity for additional details.)

EQUITY

EQUITY	9 Months Ended
	Sep. 30, 2013
Stockholders' Equity Note [Abstract]	'
EQUITY	'
	EQUITY
	Changes in equity for the nine months ended September 30, 2013 are as follows:
		Shareholders’			Non-controlling			Total Equity
		Equity			Interests
	Balance, December 31, 2012	$	1,342,373		$	15,948		$	1,358,321
	Comprehensive income (loss):
	Net income (loss)	205,456			(1,834		)	203,622
	Other comprehensive income (loss)	(1,030		)	65			(965		)
	Total comprehensive income (loss)	204,426			(1,769		)	202,657
	Cash dividends declared - $0.60 per share	(49,353		)	—			(49,353		)
	Issuance of shares under benefit plans	30,835			—			30,835
	Purchase of shares for treasury	(113,641		)	—			(113,641		)
	Balance, September 30, 2013	$	1,414,640		$	14,179		$	1,428,819
	Changes in equity for the nine months ended September 30, 2012 are as follows:
		Shareholders’			Non-controlling			Total Equity
		Equity			Interests
	Balance, December 31, 2011	$	1,176,946		$	16,296		$	1,193,242
	Comprehensive income (loss):
	Net income (loss)	195,327			(77		)	195,250
	Other comprehensive income (loss)	25,715			(312		)	25,403
	Total comprehensive income (loss)	221,042			(389		)	220,653
	Cash dividends declared - $0.51 per share	(42,551		)	—			(42,551		)
	Issuance of shares under benefit plans	25,002			—			25,002
	Purchase of shares for treasury	(60,155		)	—			(60,155		)
	Balance, September 30, 2012	$	1,320,284		$	15,907		$	1,336,191

INVENTORY_VALUATION

INVENTORY VALUATION	9 Months Ended
	Sep. 30, 2013
Inventory Disclosure [Abstract]	'
INVENTORY VALUATION	'
	INVENTORY VALUATION
	Inventories are valued at the lower of cost or market.  Fixed manufacturing overhead costs are allocated to inventory based on normal production capacity and abnormal manufacturing costs are recognized as period costs.  For most domestic inventories, cost is determined principally by the last-in, first-out (“LIFO”) method, and for non-U.S. inventories, cost is determined by the first-in, first-out (“FIFO”) method.  The valuation of LIFO inventories is made at the end of each year based on inventory levels and costs at that time.  Accordingly, interim LIFO calculations are based on management’s estimates of expected year-end inventory levels and costs.  Actual year-end costs and inventory levels may differ from interim LIFO inventory valuations.  The excess of current cost over LIFO cost was $74,599 and $72,173 at September 30, 2013 and December 31, 2012, respectively.

ACCRUED_EMPLOYEE_BONUS

ACCRUED EMPLOYEE BONUS	9 Months Ended
	Sep. 30, 2013
Accrued Employee Compensation And Benefits Disclosure Abstract	'
ACCRUED EMPLOYEE BONUS	'
	ACCRUED EMPLOYEE BONUS
	“Other current liabilities” at September 30, 2013 and 2012 include accruals for year-end bonuses and related payroll taxes of $107,049 and $105,685, respectively, related to the Company’s employees worldwide.  The payment of bonuses is discretionary and subject to approval by the Board of Directors.  A majority of annual bonuses are paid in December, resulting in an increasing bonus accrual during the Company’s fiscal year.

CONTINGENCIES

CONTINGENCIES	9 Months Ended
	Sep. 30, 2013
Commitments and Contingencies Disclosure [Abstract]	'
CONTINGENCIES	'
	CONTINGENCIES
	The Company, like other manufacturers, is subject from time to time to a variety of civil and administrative proceedings arising in the ordinary course of business.  Such claims and litigation include, without limitation, product liability claims and health, safety and environmental claims, some of which relate to cases alleging asbestos induced illnesses.  The claimants in the asbestos cases seek compensatory and punitive damages, in most cases for unspecified amounts.  The Company believes it has meritorious defenses to these claims and intends to contest such suits vigorously.
	The Company’s accrual for contingent liabilities was $3,930 as of September 30, 2013 and $5,636 as of December 31, 2012.  The accrual is included in Other current liabilities.  The Company also recognized an asset for recoveries from insurance carriers related to the insured claims outstanding of $545 as of September 30, 2013 and $1,311 as of December 31, 2012.  The asset is included in Other current assets.
	The Company accrues its best estimate of the probable costs, after a review of the facts with management and counsel and taking into account past experience. If an unfavorable outcome is determined to be reasonably possible but not probable, or if the amount of loss cannot be reasonably estimated, disclosure is provided for material claims or litigation. Many of the current cases are in differing procedural stages and information on the circumstances of each claimant, which forms the basis for judgments as to the validity or ultimate disposition of such actions, varies greatly. Therefore, in many situations a range of possible losses cannot be made. Reserves are adjusted as facts and circumstances change and related management assessments of the underlying merits and the likelihood of outcomes change. Moreover, reserves only cover identified and/or asserted claims. Future claims could, therefore, give rise to increases to such reserves.
	Based on the Company's historical experience in litigating product liability claims, including a significant number of dismissals, summary judgments and defense verdicts in many cases and immaterial settlement amounts, as well as the Company's current assessment of the underlying merits of the claims and applicable insurance, the Company believes resolution of these claims and proceedings, individually or in the aggregate, will not have a material effect on the Company's consolidated financial statements.

PRODUCT_WARRANTY_COSTS

PRODUCT WARRANTY COSTS	9 Months Ended
	Sep. 30, 2013
Product Warranties Disclosures [Abstract]	'
PRODUCT WARRANTY COSTS	'
	PRODUCT WARRANTY COSTS
	The Company accrues for product warranty claims based on historical experience and the expected material and labor costs to provide warranty service.  Warranty services are generally provided for periods up to three years from the date of sale.  The accrual for product warranty claims is included in “Other current liabilities.”
	The changes in the carrying amount of product warranty accruals for the nine months ended September 30, 2013 and 2012 are as follows:
		Nine Months Ended September 30,
		2013			2012
	Balance at beginning of period	$	15,304		$	15,781
	Accruals for warranties	8,430			7,847
	Settlements	(9,193		)	(8,283		)
	Foreign currency translation	(88		)	52
	Balance at end of period	$	14,453		$	15,397

DEBT

DEBT	9 Months Ended
	Sep. 30, 2013
Debt Disclosure [Abstract]	'
DEBT	'
	DEBT
	The Company has a line of credit totaling $300,000 through the Amended and Restated Credit Agreement (the “Credit Agreement”), which was entered into on July 26, 2012.  The Credit Agreement contains customary affirmative, negative and financial covenants for credit facilities of this type, including limitations on the Company and its subsidiaries with respect to liens, investments, distributions, mergers and acquisitions, dispositions of assets, transactions with affiliates and a fixed charges coverage ratio and total leverage ratio.  As of September 30, 2013, the Company was in compliance with all of its covenants and had no outstanding borrowings under the Credit Agreement.  The Credit Agreement has a five-year term and may be increased, subject to certain conditions, by an additional amount up to $100,000.  The interest rate on borrowings is based on either LIBOR or the prime rate, plus a spread based on the Company’s leverage ratio, at the Company’s election.

RETIREMENT_AND_POSTRETIREMENT_

RETIREMENT AND POSTRETIREMENT BENEFIT PLANS	9 Months Ended
	Sep. 30, 2013
Compensation and Retirement Disclosure [Abstract]	'
RETIREMENT AND POSTRETIREMENT BENEFIT PLANS	'
	RETIREMENT AND POSTRETIREMENT BENEFIT PLANS
	The components of total pension cost were as follows:
		Three Months Ended September 30,						Nine Months Ended September 30,
		2013			2012			2013			2012
	Service cost	$	6,144		$	5,426		$	17,563		$	16,275
	Interest cost	8,954			10,368			27,852			31,097
	Expected return on plan assets	(14,667		)	(14,688		)	(45,931		)	(44,059		)
	Amortization of prior service cost	(153		)	(23		)	(459		)	(68		)
	Amortization of net loss	7,045			7,773			23,262			23,316
	Defined benefit plans	7,323			8,856			22,287			26,561
	Multi-employer plans	237			223			702			690
	Defined contribution plans	2,599			2,435			7,791			7,032
	Total pension cost	$	10,159		$	11,514		$	30,780		$	34,283
	The Company voluntarily contributed $75,216 to its defined benefit plans in the United States during the nine months ended September 30, 2013.

INCOME_TAXES

INCOME TAXES	9 Months Ended
	Sep. 30, 2013
Income Tax Disclosure [Abstract]	'
INCOME TAXES	'
	INCOME TAXES
	The Company recognized $91,431 of tax expense on pre-tax income of $295,053, resulting in an effective income tax rate of 31.0% for the nine months ended September 30, 2013.  The effective income tax rate is lower than the Company’s statutory rate primarily due to income earned in lower tax rate jurisdictions, reversal of valuation allowance on deferred tax assets more-likely-than-not to be realized, U.S. tax credits and deductions and the utilization of foreign tax loss carry-forwards for which valuation allowances had been previously provided partially offset by the establishment of deferred tax liabilities for the planned repatriation of foreign earnings.
	The effective income tax rate of 30.8% for the nine months ended September 30, 2012 was lower than the Company’s statutory rate primarily due to income earned in lower tax rate jurisdictions and the utilization of foreign tax loss carry-forwards for which valuation allowances had been previously provided.
	The anticipated effective income tax rate for 2013 depends on the amount of earnings in various tax jurisdictions and the level of related tax deductions achieved during the year.
	As of September 30, 2013, the Company had $24,084 of unrecognized tax benefits.  If recognized, approximately $14,130 would be reflected as a component of income tax expense.
	The Company files income tax returns in the U.S. and various state, local and foreign jurisdictions.  With few exceptions, the Company is no longer subject to U.S. federal, state and local or non-U.S. income tax examinations by tax authorities for years before 2009.  The Company is currently subject to an IRS audit for 2010-2011, various U.S. state audits, a Canadian tax audit for 2003-2010, an Indian tax audit for 2012 and an Indonesian tax audit for 2003-2007.  Except as discussed below, the Company does not expect the results of these examinations to have a material effect on the Company’s consolidated financial statements.
	Unrecognized tax benefits are reviewed on an ongoing basis and are adjusted for changing facts and circumstances, including progress of tax audits and closing of statutes of limitations.  Based on information currently available, management believes that additional audit activity could be completed and/or statutes of limitations may close relating to existing unrecognized tax benefits.  It is reasonably possible there could be a reduction of $3,619 in prior years’ unrecognized tax benefits by the end of the third quarter 2014.
	In July 2012, the Company received a Notice of Reassessment from the Canada Revenue Agency (the “CRA”) for 2004 to 2011, which would disallow the deductibility of inter-company dividends.  These adjustments would increase Canadian federal and provincial tax due by $60,711 plus approximately $16,536 of interest, net of tax.  The Company disagrees with the position taken by the CRA and believes it is without merit.  The Company will vigorously contest the assessment through the Tax Court of Canada.  A trial date has not yet been scheduled.
	In connection with the litigation process, the Company is required to deposit no less than one-half of the tax and interest assessed by the CRA.  The Company has elected to deposit the entire amount of the dispute in order to suspend the continuing accrual of a 5% interest charge.  Additionally, deposited amounts will earn interest of approximately 1% due upon a favorable outcome. A deposit was made and is recorded as a non-current asset valued at $86,827 as of September 30, 2013.  Any Canadian tax ultimately due will be creditable in the parent company’s U.S. federal tax return.  The Company expects to be able to utilize the full amount of foreign tax credits generated in the statutorily allowed carry-back and carry-forward periods.  Accordingly, should the Company not prevail in this dispute, the income statement charge will approximate the deficiency interest, net of tax.
	The Company believes it will prevail on the merits of the tax position.  In accordance with prescribed recognition and measurement thresholds, no income tax accrual has been made for any uncertain tax positions related to the CRA reassessment.  An unfavorable resolution of this matter could have a material effect on the Company’s financial statements in the quarter in which a judgment is reached.

DERIVATIVES

DERIVATIVES	9 Months Ended
	Sep. 30, 2013
Derivative Instruments and Hedging Activities Disclosure [Abstract]	'
DERIVATIVES	'
	DERIVATIVES
	The Company uses derivatives to manage exposures to currency exchange rates, interest rates and commodity prices arising in the normal course of business.  Derivative contracts to hedge currency and commodity exposures are generally written on a short-term basis but may cover exposures for up to two years while interest rate contracts may cover longer periods consistent with the terms of the underlying debt.  The Company does not enter into derivatives for trading or speculative purposes.
	All derivatives are recognized at fair value on the Company’s Consolidated Balance Sheets.  The accounting for gains and losses resulting from changes in fair value depends on the use of the derivative and whether it is designated and qualifies for hedge accounting.  The Company formally documents the relationship of the hedge with the hedged item as well as the risk-management strategy for all designated hedges.  Both at inception and on an ongoing basis, the hedging instrument is assessed as to its effectiveness, when applicable.  If and when a derivative is determined not to be highly effective as a hedge, the underlying hedged transaction is no longer likely to occur, or the derivative is terminated, hedge accounting is discontinued.  The cash flows from settled derivative contracts are recognized in operating activities in the Company’s Consolidated Statements of Cash Flows.  Hedge ineffectiveness was immaterial in the nine months ended September 30, 2013 and 2012.
	The Company is subject to the credit risk of the counterparties to derivative instruments.  Counterparties include a number of major banks and financial institutions.  The Company manages individual counterparty exposure by monitoring the credit rating of the counterparty and the size of financial commitments and exposures between the Company and the counterparty.  None of the concentrations of risk with any individual counterparty was considered significant at September 30, 2013.  The Company does not expect any counterparties to fail to meet their obligations.
	Cash Flow Hedges
	Certain foreign currency forward contracts were qualified and designated as cash flow hedges.  The dollar equivalent gross notional amount of these short-term contracts was $45,359 and $39,597 at September 30, 2013 and December 31, 2012, respectively. The effective portions of the fair value gains or losses on these cash flow hedges are recognized in AOCI and subsequently reclassified to Cost of goods sold or Sales for hedges of purchases and sales, respectively, as the underlying hedged transactions affect earnings.
	Net Investment Hedges
	The Company has a foreign currency forward contract that qualifies and is designated as a net investment hedge.  The dollar equivalent gross notional amount of this short-term contract was $7,444 at September 30, 2013. The effective portion of the fair value gain or loss on this net investment hedge is recognized in AOCI and subsequently reclassified to Selling, general and administrative expenses, as the underlying hedged investment is liquidated.
	Derivatives Not Designated as Hedging Instruments
	The Company has certain foreign exchange forward contracts that are not designated as hedges.  These derivatives are held as economic hedges of certain balance sheet exposures.  The dollar equivalent gross notional amount of these contracts was $245,101 and $189,259 at September 30, 2013 and December 31, 2012, respectively.  The fair value gains or losses from these contracts are recognized in Selling, general and administrative expenses, offsetting the losses or gains on the exposures being hedged.
	The Company had short-term silver and copper forward contracts with notional amounts of 310,000 troy ounces and 375,000 pounds, respectively, at September 30, 2013.  The notional amount of short-term silver and copper forward contracts was 275,000 troy ounces and 375,000 pounds, respectively, at December 31, 2012.  Realized and unrealized gains and losses on these contracts are recognized in Costs of goods sold.
	Fair values of derivative instruments in the Company’s Consolidated Balance Sheets follow:
		30-Sep-13								December 31, 2012
	Derivatives by hedge designation	Other Current Assets				Other Current Liabilities				Other Current Assets				Other Current Liabilities
	Designated as hedging instruments:
	Foreign exchange contracts	$	411			$	435			$	352			$	325
	Net investment contracts	—				2				—				—
	Not designated as hedging instruments:
	Foreign exchange contracts	959				1,282				510				902
	Commodity contracts	289				57				731				—
	Total derivatives	$	1,659			$	1,776			$	1,593			$	1,227
	The effects of undesignated derivative instruments on the Company’s Consolidated Statements of Income for the three and nine month periods ended September 30, 2013 and 2012 consisted of the following:
				Three Months Ended September 30,								Nine Months Ended September 30,
	Derivatives by hedge designation	Classification of gain (loss)		2013				2012				2013				2012
	Not designated as hedges:
	Foreign exchange contracts	Selling, general & administrative expenses		$	3,186			$	1,547			$	194			$	2,308
	Commodity contracts	Cost of goods sold		(556		)		(2,410		)		2,841				(2,504		)
	The effects of designated hedges on AOCI and the Company’s Consolidated Statements of Income consisted of the following:
	Total gain (loss) recognized in AOCI, net of tax	30-Sep-13				December 31, 2012
	Foreign exchange contracts	$	(79	)		$	80
	Net investment contracts	12				—
				Three Months Ended September 30,								Nine Months Ended September 30,
	Derivative type	Gain (loss) reclassified from AOCI to:		2013				2012				2013				2012
	Foreign exchange contracts	Sales		$	165			$	127			$	467			$	591
		Cost of goods sold		304				35				453				88
	The Company expects a loss of $67 related to existing contracts to be reclassified from AOCI, net of tax, to earnings over the next 12 months as the hedged transactions are realized.

FAIR_VALUE

FAIR VALUE	9 Months Ended
	Sep. 30, 2013
Fair Value Disclosures [Abstract]	'
FAIR VALUE	'
	FAIR VALUE
	Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date (exit price).  The following hierarchy is used to classify the inputs used to measure fair value:
	Level 1                   Unadjusted quoted prices in active markets for identical assets or liabilities.
	Level 2                   Unadjusted quoted prices in active markets for similar assets or liabilities, or unadjusted quoted prices for identical or similar assets or liabilities in markets that are not active, or inputs other than quoted prices that are observable for the asset or liability.
	Level 3                   Unobservable inputs for the asset or liability.
	The following table provides a summary of assets and liabilities as of September 30, 2013, measured at fair value on a recurring basis:
	Description	Balance as of September 30, 2013		Quoted Prices		Significant		Significant
				in Active		Other		Unobservable
				Markets for		Observable		Inputs
				Identical Assets		Inputs		(Level 3)
				or Liabilities		(Level 2)
				(Level 1)
	Assets:
	Foreign exchange contracts	$	1,370	$	—	$	1,370	$	—
	Commodity contracts	289		—		289		—
	Total assets	$	1,659	$	—	$	1,659	$	—
	Liabilities:
	Foreign exchange contracts	$	1,717	$	—	$	1,717	$	—
	Commodity contracts	57		—		57		—
	Net investment contracts	2		—		2		—
	Contingent consideration	5,250		—		—		5,250
	Deferred compensation	19,278		—		19,278		—
	Total liabilities	$	26,304	$	—	$	21,054	$	5,250
	The following table provides a summary of assets and liabilities as of December 31, 2012, measured at fair value on a recurring basis:
	Description	Balance as of December 31, 2012		Quoted Prices		Significant		Significant
				in Active		Other		Unobservable
				Markets for		Observable		Inputs
				Identical Assets		Inputs		(Level 3)
				or Liabilities		(Level 2)
				(Level 1)
	Assets:
	Foreign exchange contracts	$	862	$	—	$	862	$	—
	Commodity contracts	731		—		731		—
	Total assets	$	1,593	$	—	$	1,593	$	—
	Liabilities:
	Foreign exchange contracts	$	1,227	$	—	$	1,227	$	—
	Contingent consideration	4,894		—		—		4,894
	Deferred compensation	16,882		—		16,882		—
	Total liabilities	$	23,003	$	—	$	18,109	$	4,894
	The Company’s derivative contracts are valued at fair value using the market approach.  The Company measures the fair value of foreign exchange contracts and net investment contracts using Level 2 inputs based on observable spot and forward rates in active markets.  The Company measures the fair value of commodity contracts using Level 2 inputs through observable market transactions in active markets provided by financial institutions.  During the nine months ended September 30, 2013, there were no transfers between Levels 1, 2 or 3.
	In connection with an acquisition, the Company recorded a contingent consideration fair valued at $5,250 as of September 30, 2013, which reflects a $356 increase in the liability from December 31, 2012.  The contingent consideration is based upon estimated sales for the five-year period ending December 31, 2015 and will be paid in 2016 based on actual sales during the five-year period.  The fair value of the contingent consideration is a Level 3 valuation and fair valued using a probability weighted discounted cash flow analysis.  The discounted cash flow utilized weighted average inputs, including a risk-based discount rate of 9.7% and a compounded annual revenue growth rate of 30.5%.  The discount rate was determined using discount rates of 3.5% reflective of the Company’s cost of debt and 14.1% as a risk adjusted cost of capital and the compounded annual revenue growth rate was determined using various scenarios with growth ranging from remaining relatively flat to growth rates of up to 65.6%.
	The deferred compensation liability is the Company’s obligation under its executive deferred compensation plan.  The Company measures the fair value of the liability using the market values of the participants’ underlying investment fund elections.
	The fair value of “Cash and cash equivalents,” “Accounts receivable,” “Amounts due banks” and “Trade accounts payable” approximated book value due to the short-term nature of these instruments at both September 30, 2013 and December 31, 2012.  The fair value of long-term debt at September 30, 2013 and December 31, 2012, including the current portion, was approximately $1,503 and $1,919, respectively, which was determined using available market information and methodologies requiring judgment.  The carrying value of this debt at such dates was $1,674 and $2,055, respectively.  Since considerable judgment is required in interpreting market information, the fair value of the debt is not necessarily the amount that could be realized in a current market exchange.

BASIS_OF_PRESENTATION_Policies

BASIS OF PRESENTATION (Policies)	9 Months Ended
	Sep. 30, 2013
Organization, Consolidation and Presentation of Financial Statements [Abstract]	'
Segments	'
	The Company’s primary business is the design and manufacture of arc welding and cutting products, manufacturing a broad line of arc welding equipment, consumable welding products and other welding and cutting products.  The Company also has a leading global position in the brazing and soldering alloys market.  The Company has aligned its business units into five operating segments to enhance the utilization of the Company’s worldwide resources and global end user and sourcing initiatives.  The operating segments consist of North America Welding, Europe Welding, Asia Pacific Welding, South America Welding and The Harris Products Group.  The North America Welding segment includes welding operations in the United States, Canada and Mexico.  The Europe Welding segment includes welding operations in Europe, Russia, Africa and the Middle East.  The other two welding segments include welding operations in Asia Pacific and South America, respectively.  The fifth segment, The Harris Products Group, includes the Company’s global cutting, soldering and brazing businesses as well as the retail business in the United States.
	Segment performance is measured and resources are allocated based on a number of factors, the primary profit measure being earnings before interest and income taxes (“EBIT”), as adjusted.  Segment EBIT is adjusted for special items as determined by management such as the impact of rationalization activities, certain asset impairment charges and gains or losses on disposals of assets.
Reclassification	'
	Certain reclassifications have been made to the prior year financial statements to conform to current year classifications.
Inventories	'
	Inventories are valued at the lower of cost or market.  Fixed manufacturing overhead costs are allocated to inventory based on normal production capacity and abnormal manufacturing costs are recognized as period costs.  For most domestic inventories, cost is determined principally by the last-in, first-out (“LIFO”) method, and for non-U.S. inventories, cost is determined by the first-in, first-out (“FIFO”) method.  The valuation of LIFO inventories is made at the end of each year based on inventory levels and costs at that time.  Accordingly, interim LIFO calculations are based on management’s estimates of expected year-end inventory levels and costs.  Actual year-end costs and inventory levels may differ from interim LIFO inventory valuations.
Product Warranties	'
	The Company accrues for product warranty claims based on historical experience and the expected material and labor costs to provide warranty service.  Warranty services are generally provided for periods up to three years from the date of sale.  The accrual for product warranty claims is included in “Other current liabilities.”
Financial Instruments	'
	The Company uses derivatives to manage exposures to currency exchange rates, interest rates and commodity prices arising in the normal course of business.  Derivative contracts to hedge currency and commodity exposures are generally written on a short-term basis but may cover exposures for up to two years while interest rate contracts may cover longer periods consistent with the terms of the underlying debt.  The Company does not enter into derivatives for trading or speculative purposes.
	All derivatives are recognized at fair value on the Company’s Consolidated Balance Sheets.  The accounting for gains and losses resulting from changes in fair value depends on the use of the derivative and whether it is designated and qualifies for hedge accounting.  The Company formally documents the relationship of the hedge with the hedged item as well as the risk-management strategy for all designated hedges.  Both at inception and on an ongoing basis, the hedging instrument is assessed as to its effectiveness, when applicable.  If and when a derivative is determined not to be highly effective as a hedge, the underlying hedged transaction is no longer likely to occur, or the derivative is terminated, hedge accounting is discontinued.  The cash flows from settled derivative contracts are recognized in operating activities in the Company’s Consolidated Statements of Cash Flows.  Hedge ineffectiveness was immaterial in the nine months ended September 30, 2013 and 2012.
	The Company is subject to the credit risk of the counterparties to derivative instruments.  Counterparties include a number of major banks and financial institutions.  The Company manages individual counterparty exposure by monitoring the credit rating of the counterparty and the size of financial commitments and exposures between the Company and the counterparty.  None of the concentrations of risk with any individual counterparty was considered significant at September 30, 2013.  The Company does not expect any counterparties to fail to meet their obligations.
	Cash Flow Hedges
	Certain foreign currency forward contracts were qualified and designated as cash flow hedges.  The dollar equivalent gross notional amount of these short-term contracts was $45,359 and $39,597 at September 30, 2013 and December 31, 2012, respectively. The effective portions of the fair value gains or losses on these cash flow hedges are recognized in AOCI and subsequently reclassified to Cost of goods sold or Sales for hedges of purchases and sales, respectively, as the underlying hedged transactions affect earnings.
	Net Investment Hedges
	The Company has a foreign currency forward contract that qualifies and is designated as a net investment hedge.  The dollar equivalent gross notional amount of this short-term contract was $7,444 at September 30, 2013. The effective portion of the fair value gain or loss on this net investment hedge is recognized in AOCI and subsequently reclassified to Selling, general and administrative expenses, as the underlying hedged investment is liquidated.
	Derivatives Not Designated as Hedging Instruments
	The Company has certain foreign exchange forward contracts that are not designated as hedges.  These derivatives are held as economic hedges of certain balance sheet exposures.  The dollar equivalent gross notional amount of these contracts was $245,101 and $189,259 at September 30, 2013 and December 31, 2012, respectively.  The fair value gains or losses from these contracts are recognized in Selling, general and administrative expenses, offsetting the losses or gains on the exposures being hedged.
	The Company had short-term silver and copper forward contracts with notional amounts of 310,000 troy ounces and 375,000 pounds, respectively, at September 30, 2013.  The notional amount of short-term silver and copper forward contracts was 275,000 troy ounces and 375,000 pounds, respectively, at December 31, 2012.  Realized and unrealized gains and losses on these contracts are recognized in Costs of goods sold.
Fair Value Measurements	'
	Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date (exit price).  The following hierarchy is used to classify the inputs used to measure fair value:
	Level 1                   Unadjusted quoted prices in active markets for identical assets or liabilities.
	Level 2                   Unadjusted quoted prices in active markets for similar assets or liabilities, or unadjusted quoted prices for identical or similar assets or liabilities in markets that are not active, or inputs other than quoted prices that are observable for the asset or liability.
	Level 3                   Unobservable inputs for the asset or liability.

EARNINGS_PER_SHARE_Tables

EARNINGS PER SHARE (Tables)	9 Months Ended
	Sep. 30, 2013
Earnings Per Share [Abstract]	'
Schedule of computation of basic and diluted earnings per share	'
	The following table sets forth the computation of basic and diluted earnings per share:
		Three Months Ended September 30,				Nine Months Ended September 30,
		2013		2012		2013		2012
	Numerator:
	Net income	$	66,044	$	64,765	$	205,456	$	195,327
	Denominator:
	Basic weighted average shares outstanding	81,644		82,918		82,260		83,233
	Effect of dilutive securities - Stock options and awards	1,063		998		1,054		1,093
	Diluted weighted average shares outstanding	82,707		83,916		83,314		84,326
	Basic earnings per share	$	0.81	$	0.78	$	2.5	$	2.35
	Diluted earnings per share	$	0.8	$	0.77	$	2.47	$	2.32

SEGMENT_INFORMATION_Tables

SEGMENT INFORMATION (Tables)	9 Months Ended
	Sep. 30, 2013
Segment Reporting [Abstract]	'
Schedule of financial information for the reportable segments	'
	Financial information for the reportable segments follows:
		North			Europe		Asia			South		The Harris		Corporate /			Consolidated
		America			Welding		Pacific			America		Products		Eliminations
		Welding					Welding			Welding		Group
	Three Months Ended September 30, 2013
	Net sales	$	404,113		$	98,522	$	63,834		$	51,715	$	73,691	$	—		$	691,875
	Inter-segment sales	35,355			5,256		3,821			151		2,311		(46,894		)	—
	Total	$	439,468		$	103,778	$	67,655		$	51,866	$	76,002	$	(46,894	)	$	691,875
	EBIT, as adjusted	$	75,225		$	7,881	$	(979	)	$	15,942	$	6,917	$	(822	)	$	104,164
	Special items charge	(17		)	1,595		4,724			—		—		—			6,302
	EBIT	$	75,242		$	6,286	$	(5,703	)	$	15,942	$	6,917	$	(822	)	$	97,862
	Interest income																536
	Interest expense																(558		)
	Income before income taxes																$	97,840
	Three Months Ended September 30, 2012
	Net sales	$	390,327		$	104,480	$	76,263		$	44,545	$	81,937	$	—		$	697,552
	Inter-segment sales	28,186			3,261		2,748			27		1,869		(36,091		)	—
	Total	$	418,513		$	107,741	$	79,011		$	44,572	$	83,806	$	(36,091	)	$	697,552
	EBIT, as adjusted	$	70,797		$	8,515	$	2,054		$	7,587	$	7,739	$	(2,620	)	$	94,072
	Special items charge	477			1,874		708			—		—		—			3,059
	EBIT	$	70,320		$	6,641	$	1,346		$	7,587	$	7,739	$	(2,620	)	$	91,013
	Interest income																916
	Interest expense																(1,040		)
	Income before income taxes																$	90,889
	Nine Months Ended September 30, 2013
	Net sales	$	1,242,736		$	317,674	$	203,112		$	132,592	$	241,766	$	—		$	2,137,880
	Inter-segment sales	99,869			13,865		12,579			222		7,209		(133,744		)	—
	Total	$	1,342,605		$	331,539	$	215,691		$	132,814	$	248,975	$	(133,744	)	$	2,137,880
	EBIT, as adjusted	$	234,662		$	28,114	$	1,967		$	32,119	$	21,411	$	(2,963	)	$	315,310
	Special items charge	1,109			1,664		5,431			12,198		—		—			20,402
	EBIT	$	233,553		$	26,450	$	(3,464	)	$	19,921	$	21,411	$	(2,963	)	$	294,908
	Interest income																2,452
	Interest expense																(2,307		)
	Income before income taxes																$	295,053
	Total assets	$	979,043		$	415,387	$	329,117		$	145,672	$	186,474	$	63,948		$	2,119,641
	Nine months ended September 30, 2012
	Net sales	$	1,187,879		$	344,720	$	254,259		$	121,552	$	260,309	$	—		$	2,168,719
	Inter-segment sales	101,386			12,178		11,641			38		6,605		(131,848		)	—
	Total	$	1,289,265		$	356,898	$	265,900		$	121,590	$	266,914	$	(131,848	)	$	2,168,719
	EBIT, as adjusted	$	216,872		$	32,317	$	8,641		$	13,472	$	23,933	$	(6,882	)	$	288,353
	Special items charge	554			2,466		1,297			1,381		—		—			5,698
	EBIT	$	216,318		$	29,851	$	7,344		$	12,091	$	23,933	$	(6,882	)	$	282,655
	Interest income																2,648
	Interest expense																(3,338		)
	Income before income taxes																$	281,965
	Total assets	$	909,827		$	460,586	$	358,626		$	128,658	$	203,536	$	30,289		$	2,091,522

RATIONALIZATION_AND_ASSET_IMPA1

RATIONALIZATION AND ASSET IMPAIRMENTS (Tables)	9 Months Ended
	Sep. 30, 2013
Restructuring and Related Activities [Abstract]	'
Summary of the activity related to the rationalization liabilities by segment	'
	The following tables summarize the activity related to the rationalization liabilities by segment for the nine months ended September 30, 2013:
		North			Europe			Asia Pacific			Consolidated
		America			Welding			Welding
		Welding
	Balance, December 31, 2012	$	—		$	2,013		$	1,044		$	3,057
	Payments and other adjustments	(495		)	(846		)	(1,287		)	(2,628		)
	Charged to expense	1,109			1,666			704			3,479
	Balance, September 30, 2013	$	614		$	2,833		$	461		$	3,908

ACCUMULATED_OTHER_COMPREHENSIV1

ACCUMULATED OTHER COMPREHENSIVE (LOSS) INCOME (Tables)	9 Months Ended
	Sep. 30, 2013
Comprehensive Income (Loss), Net of Tax, Attributable to Parent [Abstract]	'
Schedule of total changes in AOCI by component, net of taxes	'
	The following tables set forth the total changes in AOCI by component, net of taxes, for the three months ended September 30, 2013 and 2012:
			Three Months Ended September 30, 2013
			Unrealized (loss) gain on derivatives designated and qualifying as cash flow hedges				Defined benefit pension plan activity				Currency translation adjustment				Total
	Balance at June 30, 2013		$	667			$	(251,767	)		$	(8,687	)		$	(259,787	)
	Other comprehensive (loss) income		(1,203		)		—				19,808			3	18,605
	before reclassification
	Amounts reclassified from AOCI		469			1	4,314			2	(31		)	3	4,752
	Net current-period other		(734		)		4,314				19,777				23,357
	comprehensive (loss) income
	Balance at September 30, 2013		$	(67	)		$	(247,453	)		$	11,090			$	(236,430	)
			Three Months Ended September 30, 2012
			Unrealized (loss) gain on derivatives designated and qualifying as cash flow hedges				Defined benefit pension plan activity				Currency translation adjustment				Total
	Balance at June 30, 2012		$	353			$	(246,154	)		$	2,126			$	(243,675	)
	Other comprehensive (loss) income		(167		)		—				16,775			3	16,608
	before reclassification
	Amounts reclassified from AOCI		162			1	4,794			2	(55		)	3	4,901
	Net current-period other		(5		)		4,794				16,720				21,509
	comprehensive (loss) income
	Balance at September 30, 2012		$	348			$	(241,360	)		$	18,846			$	(222,166	)
	_______________________________________________________________________________
	1	During the 2013 period, this AOCI reclassification is a component of Net sales of $165 (net of tax of $29) and Cost of goods sold of $304 (net of tax of $145); during the 2012 period, the reclassification is a component of Net sales of $127 (net of tax of $13) and Cost of goods sold of $35 (net of tax of $59). (See Note 17 - Derivatives for additional details.)
	2	This AOCI component is included in the computation of net periodic pension costs (net of tax of $2,050 and $2,755 during the three months ended September 30, 2013 and 2012, respectively). (See Note 15 - Retirement and Postretirement Benefit Plans for additional details.)
	3	The Other comprehensive income before reclassifications excludes $114 and $207 attributable to Non-controlling interests in the three months ended September 30, 2013 and 2012, respectively. The reclassified AOCI component is included in the computation of Non-controlling interests. (See Note 9 - Equity for additional details.)
	The following tables set forth the total changes in AOCI by component, net of taxes for the nine months ended September 30, 2013 and 2012:
			Nine Months Ended September 30, 2013
			Unrealized (loss) gain on derivatives designated and qualifying as cash flow hedges				Defined benefit pension plan activity				Currency translation adjustment				Total
	Balance at December 31, 2012		$	80			$	(261,844	)		$	26,364			$	(235,400	)
	Other comprehensive (loss) income		(1,067		)		—				(15,408		)	6	(16,475		)
	before reclassification
	Amounts reclassified from AOCI		920			4	14,391			5	134			6	15,445
	Net current-period other		(147		)		14,391				(15,274		)		(1,030		)
	comprehensive (loss) income
	Balance at September 30, 2013		$	(67	)		$	(247,453	)		$	11,090			$	(236,430	)
			Nine months ended September 30, 2012
			Unrealized (loss) gain on derivatives designated and qualifying as cash flow hedges				Defined benefit pension plan activity				Currency translation adjustment				Total
	Balance at December 31, 2011		$	912			$	(255,369	)		$	6,576			$	(247,881	)
	Other comprehensive (loss) income		(1,243		)		—				12,000			6	10,757
	before reclassification
	Amounts reclassified from AOCI		679			4	14,009			5	270			6	14,958
	Net current-period other		(564		)		14,009				12,270				25,715
	comprehensive (loss) income
	Balance at September 30, 2012		$	348			$	(241,360	)		$	18,846			$	(222,166	)
	4	During the 2013 period, this AOCI reclassification is a component of Net sales of $467 (net of tax of $78) and Cost of goods sold of $453 (net of tax of $136); during the 2012 period, the reclassification is a component of Net sales of $591 (net of tax of $104) and Cost of goods sold of $88 (net of tax of $164). (See Note 17 - Derivatives for additional details.)
	5	This AOCI component is included in the computation of net periodic pension costs (net of tax of $8,232 and $8,593 during the nine months ended September 30, 2013 and 2012, respectively). (See Note 15 - Retirement and Postretirement Benefit Plans for additional details.)
	6	The Other comprehensive income before reclassifications excludes $65 and $312 attributable to Non-controlling interests in the nine months ended September 30, 2013 and 2012, respectively. The reclassified AOCI component is included in the computation of Non-controlling interests. (See Note 9 - Equity for additional details.)

EQUITY_Tables

EQUITY (Tables)	9 Months Ended
	Sep. 30, 2013
Stockholders' Equity Note [Abstract]	'
Schedule of changes in equity	'
	Changes in equity for the nine months ended September 30, 2013 are as follows:
		Shareholders’			Non-controlling			Total Equity
		Equity			Interests
	Balance, December 31, 2012	$	1,342,373		$	15,948		$	1,358,321
	Comprehensive income (loss):
	Net income (loss)	205,456			(1,834		)	203,622
	Other comprehensive income (loss)	(1,030		)	65			(965		)
	Total comprehensive income (loss)	204,426			(1,769		)	202,657
	Cash dividends declared - $0.60 per share	(49,353		)	—			(49,353		)
	Issuance of shares under benefit plans	30,835			—			30,835
	Purchase of shares for treasury	(113,641		)	—			(113,641		)
	Balance, September 30, 2013	$	1,414,640		$	14,179		$	1,428,819
	Changes in equity for the nine months ended September 30, 2012 are as follows:
		Shareholders’			Non-controlling			Total Equity
		Equity			Interests
	Balance, December 31, 2011	$	1,176,946		$	16,296		$	1,193,242
	Comprehensive income (loss):
	Net income (loss)	195,327			(77		)	195,250
	Other comprehensive income (loss)	25,715			(312		)	25,403
	Total comprehensive income (loss)	221,042			(389		)	220,653
	Cash dividends declared - $0.51 per share	(42,551		)	—			(42,551		)
	Issuance of shares under benefit plans	25,002			—			25,002
	Purchase of shares for treasury	(60,155		)	—			(60,155		)
	Balance, September 30, 2012	$	1,320,284		$	15,907		$	1,336,191

PRODUCT_WARRANTY_COSTS_Tables

PRODUCT WARRANTY COSTS (Tables)	9 Months Ended
	Sep. 30, 2013
Product Warranties Disclosures [Abstract]	'
Schedule of the changes in the carrying amount of product warranty accruals	'
	The changes in the carrying amount of product warranty accruals for the nine months ended September 30, 2013 and 2012 are as follows:
		Nine Months Ended September 30,
		2013			2012
	Balance at beginning of period	$	15,304		$	15,781
	Accruals for warranties	8,430			7,847
	Settlements	(9,193		)	(8,283		)
	Foreign currency translation	(88		)	52
	Balance at end of period	$	14,453		$	15,397

RETIREMENT_AND_POSTRETIREMENT_1

RETIREMENT AND POSTRETIREMENT BENEFIT PLANS (Tables)	9 Months Ended
	Sep. 30, 2013
Compensation and Retirement Disclosure [Abstract]	'
Components of total pension cost	'
	The components of total pension cost were as follows:
		Three Months Ended September 30,						Nine Months Ended September 30,
		2013			2012			2013			2012
	Service cost	$	6,144		$	5,426		$	17,563		$	16,275
	Interest cost	8,954			10,368			27,852			31,097
	Expected return on plan assets	(14,667		)	(14,688		)	(45,931		)	(44,059		)
	Amortization of prior service cost	(153		)	(23		)	(459		)	(68		)
	Amortization of net loss	7,045			7,773			23,262			23,316
	Defined benefit plans	7,323			8,856			22,287			26,561
	Multi-employer plans	237			223			702			690
	Defined contribution plans	2,599			2,435			7,791			7,032
	Total pension cost	$	10,159		$	11,514		$	30,780		$	34,283

DERIVATIVES_Tables

DERIVATIVES (Tables)	9 Months Ended
	Sep. 30, 2013
Derivative Instruments and Hedging Activities Disclosure [Abstract]	'
Schedule of fair values of derivative instruments on the Company's Consolidated Balance Sheets	'
	Fair values of derivative instruments in the Company’s Consolidated Balance Sheets follow:
		30-Sep-13								December 31, 2012
	Derivatives by hedge designation	Other Current Assets				Other Current Liabilities				Other Current Assets				Other Current Liabilities
	Designated as hedging instruments:
	Foreign exchange contracts	$	411			$	435			$	352			$	325
	Net investment contracts	—				2				—				—
	Not designated as hedging instruments:
	Foreign exchange contracts	959				1,282				510				902
	Commodity contracts	289				57				731				—
	Total derivatives	$	1,659			$	1,776			$	1,593			$	1,227
Schedule of effects of undesignated derivative instruments on the Company's Consolidated Statements of Income	'
	The effects of undesignated derivative instruments on the Company’s Consolidated Statements of Income for the three and nine month periods ended September 30, 2013 and 2012 consisted of the following:
				Three Months Ended September 30,								Nine Months Ended September 30,
	Derivatives by hedge designation	Classification of gain (loss)		2013				2012				2013				2012
	Not designated as hedges:
	Foreign exchange contracts	Selling, general & administrative expenses		$	3,186			$	1,547			$	194			$	2,308
	Commodity contracts	Cost of goods sold		(556		)		(2,410		)		2,841				(2,504		)
Schedule of effects of designated cash flow hedges on AOCI and the entity's Consolidated Statements of Income	'
	The effects of designated hedges on AOCI and the Company’s Consolidated Statements of Income consisted of the following:
	Total gain (loss) recognized in AOCI, net of tax	30-Sep-13				December 31, 2012
	Foreign exchange contracts	$	(79	)		$	80
	Net investment contracts	12				—
				Three Months Ended September 30,								Nine Months Ended September 30,
	Derivative type	Gain (loss) reclassified from AOCI to:		2013				2012				2013				2012
	Foreign exchange contracts	Sales		$	165			$	127			$	467			$	591
		Cost of goods sold		304				35				453				88

FAIR_VALUE_Tables

FAIR VALUE (Tables)	9 Months Ended
	Sep. 30, 2013
Fair Value Disclosures [Abstract]	'
Summary of assets and liabilities measured at fair value on a recurring basis	'
	The following table provides a summary of assets and liabilities as of September 30, 2013, measured at fair value on a recurring basis:
	Description	Balance as of September 30, 2013		Quoted Prices		Significant		Significant
				in Active		Other		Unobservable
				Markets for		Observable		Inputs
				Identical Assets		Inputs		(Level 3)
				or Liabilities		(Level 2)
				(Level 1)
	Assets:
	Foreign exchange contracts	$	1,370	$	—	$	1,370	$	—
	Commodity contracts	289		—		289		—
	Total assets	$	1,659	$	—	$	1,659	$	—
	Liabilities:
	Foreign exchange contracts	$	1,717	$	—	$	1,717	$	—
	Commodity contracts	57		—		57		—
	Net investment contracts	2		—		2		—
	Contingent consideration	5,250		—		—		5,250
	Deferred compensation	19,278		—		19,278		—
	Total liabilities	$	26,304	$	—	$	21,054	$	5,250
	The following table provides a summary of assets and liabilities as of December 31, 2012, measured at fair value on a recurring basis:
	Description	Balance as of December 31, 2012		Quoted Prices		Significant		Significant
				in Active		Other		Unobservable
				Markets for		Observable		Inputs
				Identical Assets		Inputs		(Level 3)
				or Liabilities		(Level 2)
				(Level 1)
	Assets:
	Foreign exchange contracts	$	862	$	—	$	862	$	—
	Commodity contracts	731		—		731		—
	Total assets	$	1,593	$	—	$	1,593	$	—
	Liabilities:
	Foreign exchange contracts	$	1,227	$	—	$	1,227	$	—
	Contingent consideration	4,894		—		—		4,894
	Deferred compensation	16,882		—		16,882		—
	Total liabilities	$	23,003	$	—	$	18,109	$	4,894

BASIS_OF_PRESENTATION_Details

BASIS OF PRESENTATION (Details)	9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2013	Feb. 13, 2013	Dec. 31, 2012	Dec. 31, 2012
	USD ($)	VEB	USD ($)	VEB
Venezuela-Highly Inflationary Economy	'	'	'	'
Official exchange rate set by Venezuelan government for non-essential goods after devaluation (in bolivars per U.S. dollar)	'	'	'	4.3
OfficialBolivarsExchangeRateAfter2013Devaluation	'	6.3	'	'
Venezuela foreign currency transaction loss	$8,081	'	'	'
Effect of liquidation of inventory valued at historical exchange rate after currency devaluation	4,117	'	'	'
Net bolivar-denominated monetary assets position	$19,104	'	$31,545	'

EARNINGS_PER_SHARE_Details

EARNINGS PER SHARE (Details) (USD $)	3 Months Ended		9 Months Ended
In Thousands, except Share data, unless otherwise specified	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012
Numerator:	'	'	'	'
Net income	$66,044	$64,765	$205,456	$195,327
Denominator:	'	'	'	'
Basic weighted average shares outstanding (in shares)	81,644,000	82,918,000	82,260,000	83,233,000
Effect of dilutive securities - Stock options and awards (in shares)	1,063,000	998,000	1,054,000	1,093,000
Diluted weighted average shares outstanding (in shares)	82,707,000	83,916,000	83,314,000	84,326,000
Earnings (loss) per share	'	'	'	'
Basic earnings per share (in dollars per share)	$0.81	$0.78	$2.50	$2.35
Diluted earnings per share (in dollars per share)	$0.80	$0.77	$2.47	$2.32
Anti-dilutive shares excluded from the computation of diluted earnings per share	44,026	461,093	420,584	46,678

ACQUISITIONS_Details

ACQUISITIONS (Details) (USD $)	3 Months Ended		9 Months Ended		12 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012	Dec. 31, 2012	Dec. 31, 2012	Nov. 12, 2012	Apr. 30, 2012	Dec. 31, 2011
						Tennessee Rand, Inc.	Kaliburn, Burny and Cleveland Motion Control	Wayne Trail	Weartech
Acquisitions	'	'	'	'	'	'	'	'	'
Annual sales at the date of acquisition	$691,875	$697,552	$2,137,880	$2,168,719	'	$35,000	$36,000	$50,000	$40,000
Consideration paid in cash and assumed debt	'	'	'	'	143,456	'	'	'	'
Fair value of net assets acquired	'	'	'	'	71,727	'	'	'	'
Goodwill from acquisition	'	'	'	'	$71,729	'	'	'	'

SEGMENT_INFORMATION_Details

SEGMENT INFORMATION (Details) (USD $)	3 Months Ended		9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012	Dec. 31, 2012
			segment
Financial information for the reportable segments	'	'	'	'	'
Net sales	$691,875	$697,552	$2,137,880	$2,168,719	'
Inter-segment sales	0	0	0	0	'
Total	691,875	697,552	2,137,880	2,168,719	'
EBIT, as adjusted	104,164	94,072	315,310	288,353	'
Special items net charges	6,302	3,059	20,402	5,698	'
Restructuring Charges	'	'	3,479	'	'
Asset Impairment Charges	'	'	4,881	'	'
EBIT	97,862	91,013	294,908	282,655	'
Interest income	536	916	2,452	2,648	'
Interest expense	-558	-1,040	-2,307	-3,338	'
Income before income taxes	97,840	90,889	295,053	281,965	'
Total assets	2,119,641	2,091,522	2,119,641	2,091,522	2,089,863
Special items	'	'	'	'	'
Number of operating segments	'	'	5	'	'
North America Welding	'	'	'	'	'
Financial information for the reportable segments	'	'	'	'	'
Net sales	404,113	390,327	1,242,736	1,187,879	'
Inter-segment sales	35,355	28,186	99,869	101,386	'
Total	439,468	418,513	1,342,605	1,289,265	'
EBIT, as adjusted	75,225	70,797	234,662	216,872	'
Special items net charges	-17	477	1,109	554	'
Restructuring Charges	'	'	1,109	'	'
EBIT	75,242	70,320	233,553	216,318	'
Total assets	979,043	909,827	979,043	909,827	'
Europe Welding	'	'	'	'	'
Financial information for the reportable segments	'	'	'	'	'
Net sales	98,522	104,480	317,674	344,720	'
Inter-segment sales	5,256	3,261	13,865	12,178	'
Total	103,778	107,741	331,539	356,898	'
EBIT, as adjusted	7,881	8,515	28,114	32,317	'
Special items net charges	1,595	1,874	1,664	2,466	'
Restructuring Charges	'	1,914	1,666	2,506	'
EBIT	6,286	6,641	26,450	29,851	'
Total assets	415,387	460,586	415,387	460,586	'
Asia Pacific Welding	'	'	'	'	'
Financial information for the reportable segments	'	'	'	'	'
Net sales	63,834	76,263	203,112	254,259	'
Inter-segment sales	3,821	2,748	12,579	11,641	'
Total	67,655	79,011	215,691	265,900	'
EBIT, as adjusted	-979	2,054	1,967	8,641	'
Special items net charges	4,724	708	5,431	1,297	'
Restructuring Charges Net	49	'	756	'	'
Restructuring Charges	'	311	704	900	'
Asset Impairment Charges	'	397	206	397	'
Other Asset Impairment Charges	4,675	'	4,675	'	'
EBIT	-5,703	1,346	-3,464	7,344	'
Total assets	329,117	358,626	329,117	358,626	'
South America Welding	'	'	'	'	'
Financial information for the reportable segments	'	'	'	'	'
Net sales	51,715	44,545	132,592	121,552	'
Inter-segment sales	151	27	222	38	'
Total	51,866	44,572	132,814	121,590	'
EBIT, as adjusted	15,942	7,587	32,119	13,472	'
Special items net charges	0	0	12,198	1,381	'
EBIT	15,942	7,587	19,921	12,091	'
Total assets	145,672	128,658	145,672	128,658	'
The Harris Products Group	'	'	'	'	'
Financial information for the reportable segments	'	'	'	'	'
Net sales	73,691	81,937	241,766	260,309	'
Inter-segment sales	2,311	1,869	7,209	6,605	'
Total	76,002	83,806	248,975	266,914	'
EBIT, as adjusted	6,917	7,739	21,411	23,933	'
Special items net charges	0	0	0	0	'
EBIT	6,917	7,739	21,411	23,933	'
Total assets	186,474	203,536	186,474	203,536	'
Corporate / Eliminations	'	'	'	'	'
Financial information for the reportable segments	'	'	'	'	'
Net sales	0	0	0	0	'
Inter-segment sales	-46,894	-36,091	-133,744	-131,848	'
Total	-46,894	-36,091	-133,744	-131,848	'
EBIT, as adjusted	-822	-2,620	-2,963	-6,882	'
Special items net charges	0	0	0	0	'
EBIT	-822	-2,620	-2,963	-6,882	'
Total assets	$63,948	$30,289	$63,948	$30,289	'

RATIONALIZATION_AND_ASSET_IMPA2

RATIONALIZATION AND ASSET IMPAIRMENTS (Summary of Activity Related to Rationalization Liabilities by Segment) (Details) (USD $)	3 Months Ended	9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012
Rationalization and Asset Impairments	'	'	'
Balance at the beginning of the period	'	$3,057	'
Payments for Restructuring	'	-2,628	'
Charged to expense	'	3,479	'
Balance at the end of the period	'	3,908	'
North America Welding	'	'	'
Rationalization and Asset Impairments	'	'	'
Balance at the beginning of the period	'	0	'
Payments for Restructuring	'	-495	'
Charged to expense	'	1,109	'
Balance at the end of the period	'	614	'
Europe Welding	'	'	'
Rationalization and Asset Impairments	'	'	'
Balance at the beginning of the period	'	2,013	'
Payments for Restructuring	'	-846	'
Charged to expense	1,914	1,666	2,506
Balance at the end of the period	'	2,833	'
Asia Pacific Welding	'	'	'
Rationalization and Asset Impairments	'	'	'
Balance at the beginning of the period	'	1,044	'
Payments for Restructuring	'	-1,287	'
Charged to expense	311	704	900
Balance at the end of the period	'	$461	'

RATIONALIZATION_AND_ASSET_IMPA3

RATIONALIZATION AND ASSET IMPAIRMENTS (Textual) (Details) (USD $)

3 Months Ended

9 Months Ended

9 Months Ended

3 Months Ended

9 Months Ended

12 Months Ended

9 Months Ended

12 Months Ended

3 Months Ended

9 Months Ended

12 Months Ended

9 Months Ended

In Thousands, unless otherwise specified

Sep. 30, 2013

Sep. 30, 2012

Sep. 30, 2013

Sep. 30, 2012

Dec. 31, 2012

Sep. 30, 2013

Sep. 30, 2013

Sep. 30, 2012

Sep. 30, 2013

Sep. 30, 2012

Dec. 31, 2012

Dec. 31, 2012

Sep. 30, 2013

Sep. 30, 2013

Dec. 31, 2012

Sep. 30, 2013

Sep. 30, 2012

Sep. 30, 2013

Sep. 30, 2012

Dec. 31, 2012

Dec. 31, 2012

Sep. 30, 2013

Sep. 30, 2013

Employee Severance

North America Welding

North America Welding

North America Welding

North America Welding

North America Welding

North America Welding

Europe Welding 2013 Plan [Member]

Europe Welding

Europe Welding

Asia Pacific Welding

Asia Pacific Welding

Asia Pacific Welding

Asia Pacific Welding

Asia Pacific Welding

Asia Pacific Welding

Minimum [Member]

Maximum

Employee Severance

employee

employee

Employee Severance

Europe Welding 2013 Plan [Member]

Europe Welding 2013 Plan [Member]

employee

employee

Employee Severance

Employee Severance

Rationalization and Asset Impairments

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Rationalization and asset impairment charges

$6,302

$3,059

$8,204

$4,317

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Employee severance and other related costs

'

'

'

'

'

3,479

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Asset Impairment Charges

'

'

4,881

'

'

'

'

'

'

'

'

'

'

'

'

'

397

206

397

'

'

'

'

Special items, gain (loss) on the sale of assets at a rationalized operation

'

'

156

'

'

'

'

'

'

'

'

'

'

'

'

'

'

154

'

'

'

'

'

Number of employees affected due to rationalization activities

'

'

'

'

'

'

'

'

'

'

'

72

56

'

285

'

'

'

'

'

268

'

'

Restructuring Charges Net

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

49

'

756

'

'

'

'

'

Special items net charges

6,302

3,059

20,402

5,698

'

'

-17

477

1,109

554

'

'

1,518

146

'

4,724

708

5,431

1,297

'

'

'

'

Charged to expense

'

'

3,479

'

'

'

'

'

1,109

'

'

'

'

'

'

'

311

704

900

'

'

'

'

Restructuring reserve

3,908

'

3,908

'

3,057

'

614

'

614

'

0

'

1,518

1,315

'

461

'

461

'

1,044

'

'

'

Restructuring and Related Cost, Expected Cost

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

600

1,500

Other Asset Impairment Charges

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

$4,675

'

$4,675

'

'

'

'

'

COMMON_SHARE_REPURCHASE_PROGRA1

COMMON SHARE REPURCHASE PROGRAM (Details)	3 Months Ended	9 Months Ended
	Sep. 30, 2013	Sep. 30, 2013
COMMON SHARE REPURCHASE PROGRAM	'	'
Shares authorized for repurchase under share repurchase program	45,000,000	45,000,000
Shares purchased in the open market under share repurchase program	710,726	1,923,142
Remaining common shares available for repurchase under the stock repurchase program	16,419,231	16,419,231

ACCUMULATED_OTHER_COMPREHENSIV2

ACCUMULATED OTHER COMPREHENSIVE (LOSS) INCOME (Details) (USD $)	3 Months Ended				9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2013		Sep. 30, 2012		Sep. 30, 2013		Sep. 30, 2012
Accumulated Other Comprehensive Loss Income [Roll Forward]	'		'		'		'
Beginning balance	($259,787)		($243,675)		($235,400)		($247,881)
Other comprehensive (loss) income before reclassification	18,605		16,608		-16,475		10,757
Amounts reclassified from AOCI	4,752		4,901		15,445		14,958
Net current-period other comprehensive income (loss)	23,357		21,509		-1,030		25,715
Ending balance	-236,430		-222,166		-236,430		-222,166
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Abstract]	'		'		'		'
Net sales	691,875		697,552		2,137,880		2,168,719
Cost of goods sold	459,178		484,190		1,438,273		1,515,095
Income taxes	33,588		26,153		91,431		86,715
Unrealized (loss) gain on derivatives designated and qualifying as cash flow hedges	'		'		'		'
Accumulated Other Comprehensive Loss Income [Roll Forward]	'		'		'		'
Beginning balance	667		353		80		912
Other comprehensive (loss) income before reclassification	-1,203		-167		-1,067		-1,243
Amounts reclassified from AOCI	469	[1]	162	[1]	920	[2]	679	[2]
Net current-period other comprehensive income (loss)	-734		-5		-147		-564
Ending balance	-67		348		-67		348
Unrealized (loss) gain on derivatives designated and qualifying as cash flow hedges | Reclassification out of Accumulated Other Comprehensive Income | Sales	'		'		'		'
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Abstract]	'		'		'		'
Net sales	165		127		467		591
Income taxes	29		13		78		104
Unrealized (loss) gain on derivatives designated and qualifying as cash flow hedges | Reclassification out of Accumulated Other Comprehensive Income | Cost of goods sold	'		'		'		'
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Abstract]	'		'		'		'
Cost of goods sold	304		35		453		88
Income taxes	145		59		136		164
Defined benefit pension plan activity	'		'		'		'
Accumulated Other Comprehensive Loss Income [Roll Forward]	'		'		'		'
Beginning balance	-251,767		-246,154		-261,844		-255,369
Other comprehensive (loss) income before reclassification	0		0		0		0
Amounts reclassified from AOCI	4,314	[3]	4,794	[3]	14,391	[4]	14,009	[4]
Net current-period other comprehensive income (loss)	4,314		4,794		14,391		14,009
Ending balance	-247,453		-241,360		-247,453		-241,360
Defined benefit pension plan activity | Reclassification out of Accumulated Other Comprehensive Income	'		'		'		'
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Abstract]	'		'		'		'
Income taxes	2,050		2,755		8,232		8,593
Currency translation adjustment	'		'		'		'
Accumulated Other Comprehensive Loss Income [Roll Forward]	'		'		'		'
Beginning balance	-8,687		2,126		26,364		6,576
Other comprehensive (loss) income before reclassification	19,808	[5]	16,775	[5]	-15,408	[6]	12,000	[6]
Amounts reclassified from AOCI	-31	[5]	-55	[5]	134	[6]	270	[6]
Net current-period other comprehensive income (loss)	19,777		16,720		-15,274		12,270
Ending balance	11,090		18,846		11,090		18,846
Currency translation adjustment | Reclassification out of Accumulated Other Comprehensive Income	'		'		'		'
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Abstract]	'		'		'		'
Other comprehensive income attributable to non-controlling interest	$114		$207		$65		$312
[1]	During the 2013 period, this AOCI reclassification is a component of Net sales of $165 (net of tax of $29) and Cost of goods sold of $304 (net of tax of $145); during the 2012 period, the reclassification is a component of Net sales of $127 (net of tax of $13) and Cost of goods sold of $35 (net of tax of $59). (See Note 17 - Derivatives for additional details.)
[2]	During the 2013 period, this AOCI reclassification is a component of Net sales of $467 (net of tax of $78) and Cost of goods sold of $453 (net of tax of $136); during the 2012 period, the reclassification is a component of Net sales of $591 (net of tax of $104) and Cost of goods sold of $88 (net of tax of $164). (See Note 17 - Derivatives for additional details.)
[3]	This AOCI component is included in the computation of net periodic pension costs (net of tax of $2,050 and $2,755 during the three months ended September 30, 2013 and 2012, respectively). (See Note 15 - Retirement and Postretirement Benefit Plans for additional details.)
[4]	This AOCI component is included in the computation of net periodic pension costs (net of tax of $8,232 and $8,593 during the nine months ended September 30, 2013 and 2012, respectively). (See Note 15 - Retirement and Postretirement Benefit Plans for additional details.)
[5]	The Other comprehensive income before reclassifications excludes $114 and $207 attributable to Non-controlling interests in the three months ended September 30, 2013 and 2012, respectively. The reclassified AOCI component is included in the computation of Non-controlling interests. (See Note 9 - Equity for additional details.)
[6]	The Other comprehensive income before reclassifications excludes $65 and $312 attributable to Non-controlling interests in the nine months ended September 30, 2013 and 2012, respectively. The reclassified AOCI component is included in the computation of Non-controlling interests. (See Note 9 - Equity for additional details.)

EQUITY_Details

EQUITY (Details) (USD $)	3 Months Ended		9 Months Ended
In Thousands, except Per Share data, unless otherwise specified	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012
Changes in equity	'	'	'	'
Balance at the beginning of the period	'	'	$1,358,321	$1,193,242
Comprehensive income:	'	'	'	'
Net income including non-controlling interests	64,252	64,736	203,622	195,250
Other comprehensive income (loss)	23,471	21,717	-965	25,403
Total comprehensive income (loss)	87,723	86,453	202,657	220,653
Cash dividends declared - $0.60 per share and $0.51 per share for the nine months ended September 30, 2013 and 2012, respectively	'	'	-49,353	-42,551
Cash dividends declared per share (in dollars per share)	$0.20	$0.17	$0.60	$0.51
Issuance of shares under benefit plans	'	'	30,835	25,002
Purchase of shares for treasury	'	'	-113,641	-60,155
Balance at the end of the period	1,428,819	1,336,191	1,428,819	1,336,191
Shareholders' Equity	'	'	'	'
Changes in equity	'	'	'	'
Balance at the beginning of the period	'	'	1,342,373	1,176,946
Comprehensive income:	'	'	'	'
Net income including non-controlling interests	'	'	205,456	195,327
Other comprehensive income (loss)	'	'	-1,030	25,715
Total comprehensive income (loss)	'	'	204,426	221,042
Cash dividends declared - $0.60 per share and $0.51 per share for the nine months ended September 30, 2013 and 2012, respectively	'	'	-49,353	-42,551
Issuance of shares under benefit plans	'	'	30,835	25,002
Purchase of shares for treasury	'	'	-113,641	-60,155
Balance at the end of the period	1,414,640	1,320,284	1,414,640	1,320,284
Noncontrolling Interests	'	'	'	'
Changes in equity	'	'	'	'
Balance at the beginning of the period	'	'	15,948	16,296
Comprehensive income:	'	'	'	'
Net income including non-controlling interests	'	'	-1,834	-77
Other comprehensive income (loss)	'	'	65	-312
Total comprehensive income (loss)	'	'	-1,769	-389
Cash dividends declared - $0.60 per share and $0.51 per share for the nine months ended September 30, 2013 and 2012, respectively	'	'	0	0
Issuance of shares under benefit plans	'	'	0	0
Purchase of shares for treasury	'	'	0	0
Balance at the end of the period	$14,179	$15,907	$14,179	$15,907

INVENTORY_VALUATION_Details

INVENTORY VALUATION (Details) (USD $)	Sep. 30, 2013	Dec. 31, 2012
In Thousands, unless otherwise specified
Inventory Disclosure [Abstract]	'	'
Excess of current cost over LIFO cost	$74,599	$72,173

ACCRUED_EMPLOYEE_BONUS_Details

ACCRUED EMPLOYEE BONUS (Details) (USD $)	Sep. 30, 2013	Sep. 30, 2012
In Thousands, unless otherwise specified
Accrued Employee Compensation And Benefits Disclosure Abstract	'	'
Accruals for year-end bonuses and related payroll taxes included in other current liabilities	$107,049	$105,685

CONTINGENCIES_Details

CONTINGENCIES (Details) (USD $)	Sep. 30, 2013	Dec. 31, 2012
In Thousands, unless otherwise specified
Commitments and Contingencies Disclosure [Abstract]	'	'
Accrual for contingent liabilities	$3,930	$5,636
Asset for recoveries from insurance carriers related to the insured claims outstanding	$545	$1,311

PRODUCT_WARRANTY_COSTS_Details

PRODUCT WARRANTY COSTS (Details) (USD $)	9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2013	Sep. 30, 2012
Product Warranties Disclosures [Abstract]	'	'
Maximum period of warranty services	'3 years	'
Changes in the carrying amount of product warranty accruals	'	'
Balance at beginning of year	$15,304	$15,781
Accruals for warranties	8,430	7,847
Settlements	-9,193	-8,283
Foreign currency translation	-88	52
Balance at end of year	$14,453	$15,397

DEBT_Details

DEBT (Details) (Revolving credit agreement, USD $)	1 Months Ended	9 Months Ended
	Jul. 31, 2012	Sep. 30, 2013
Revolving credit agreement	'	'
Debt	'	'
Borrowing capacity under the line of credit	'	$300,000,000
Line of Credit Facility, Initiation Date	26-Jul-12	'
Covenant compliance description	'	'As of September 30, 2013, the Company was in compliance with all of its covenants
Term of the credit agreement	'	'5 years
Additional increase in borrowing capacity of the line of credit available at the entity's option	'	$100,000,000

RETIREMENT_AND_POSTRETIREMENT_2

RETIREMENT AND POSTRETIREMENT BENEFIT PLANS (Details) (USD $)	3 Months Ended		9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012
Compensation and Retirement Disclosure [Abstract]	'	'	'	'
Service cost	$6,144	$5,426	$17,563	$16,275
Interest cost	8,954	10,368	27,852	31,097
Expected return on plan assets	-14,667	-14,688	-45,931	-44,059
Amortization of prior service cost	-153	-23	-459	-68
Amortization of net loss	7,045	7,773	23,262	23,316
Defined benefit plans	7,323	8,856	22,287	26,561
Multi-employer plans	237	223	702	690
Defined contribution plans	2,599	2,435	7,791	7,032
Total pension cost	10,159	11,514	30,780	34,283
Voluntarily contribution to defined benefit plans in United States	'	'	$75,216	'

INCOME_TAXES_Details

INCOME TAXES (Details) (USD $)	3 Months Ended		9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012
Income Tax Disclosure [Abstract]	'	'	'	'
Tax expense	$33,588	$26,153	$91,431	$86,715
Pre-tax income	97,840	90,889	295,053	281,965
Effective income tax rate (as a percent)	'	'	31.00%	30.80%
Unrecognized tax benefits	24,084	'	24,084	'
Unrecognized tax benefits that, if recognized, would be reflected as a component of income tax expense	14,130	'	14,130	'
Reasonably possible reduction in prior years' unrecognized tax benefits during the next twelve months	-3,619	'	-3,619	'
Possible increase in Canadian federal and provincial tax due to reassessment	60,711	'	60,711	'
Possible interest on Canadian tax reassessment	16,536	'	16,536	'
Tax deposit	$86,827	'	$86,827	'
Interest percentage charged on tax assessment	5.00%	'	5.00%	'
Rate of interest to be earned on tax deposit upon favorable outcome	1.00%	'	1.00%	'

DERIVATIVES_Fair_Value_of_Deri

DERIVATIVES (Fair Value of Derivative Instruments) (Details) (USD $)	Sep. 30, 2013	Dec. 31, 2012
In Thousands, unless otherwise specified
Other Current Assets	'	'
Fair values of derivative instruments	'	'
Fair value of derivative assets	$1,659	$1,593
Other Current Liabilities	'	'
Fair values of derivative instruments	'	'
Fair value of derivative liabilities	1,776	1,227
Designated as hedging instruments | Foreign exchange contracts | Other Current Assets	'	'
Fair values of derivative instruments	'	'
Fair value of derivative assets	411	352
Designated as hedging instruments | Foreign exchange contracts | Other Current Liabilities	'	'
Fair values of derivative instruments	'	'
Fair value of derivative liabilities	435	325
Designated as hedging instruments | Net investment contracts | Other Current Assets	'	'
Fair values of derivative instruments	'	'
Fair value of derivative assets	0	0
Designated as hedging instruments | Net investment contracts | Other Current Liabilities	'	'
Fair values of derivative instruments	'	'
Fair value of derivative liabilities	2	0
Not designated as hedging instruments | Foreign exchange contracts | Other Current Assets	'	'
Fair values of derivative instruments	'	'
Fair value of derivative assets	959	510
Not designated as hedging instruments | Foreign exchange contracts | Other Current Liabilities	'	'
Fair values of derivative instruments	'	'
Fair value of derivative liabilities	1,282	902
Not designated as hedging instruments | Commodity contracts | Other Current Assets	'	'
Fair values of derivative instruments	'	'
Fair value of derivative assets	289	731
Not designated as hedging instruments | Commodity contracts | Other Current Liabilities	'	'
Fair values of derivative instruments	'	'
Fair value of derivative liabilities	$57	$0

DERIVATIVES_Income_Statement_I

DERIVATIVES (Income Statement Impact) (Details) (USD $)	3 Months Ended		9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012
Foreign exchange contracts | Selling, general and administrative expense	'	'	'	'
Effects of designated cash flow hedges on the entity's Consolidated Statements of Income	'	'	'	'
Gains (loss) recognized in income	$3,186	$1,547	$194	$2,308
Commodity contracts | Cost of goods sold	'	'	'	'
Effects of designated cash flow hedges on the entity's Consolidated Statements of Income	'	'	'	'
Gains (loss) recognized in income	($556)	($2,410)	$2,841	($2,504)

DERIVATIVES_AOCI_Impact_Detail

DERIVATIVES (AOCI Impact) (Details) (USD $)

9 Months Ended

12 Months Ended

3 Months Ended

9 Months Ended

3 Months Ended

9 Months Ended

12 Months Ended

In Thousands, unless otherwise specified

Sep. 30, 2013

Dec. 31, 2012

Sep. 30, 2013

Sep. 30, 2012

Sep. 30, 2013

Sep. 30, 2012

Sep. 30, 2013

Sep. 30, 2012

Sep. 30, 2013

Sep. 30, 2012

Sep. 30, 2013

Dec. 31, 2012

Foreign exchange contracts

Foreign exchange contracts

Foreign exchange contracts

Foreign exchange contracts

Foreign exchange contracts

Foreign exchange contracts

Foreign exchange contracts

Foreign exchange contracts

Foreign exchange contracts

Foreign exchange contracts

Net investment contracts

Net investment contracts

Sales

Sales

Sales

Sales

Cost of goods sold

Cost of goods sold

Cost of goods sold

Cost of goods sold

Effects of designated cash flow hedges on the entity's AOCI

'

'

'

'

'

'

'

'

'

'

'

'

Gain (loss) recognized in AOCI, net of tax

($79)

$80

'

'

'

'

'

'

'

'

$12

$0

Gain (loss) reclassified from AOCI to income

'

'

$165

$127

$467

$591

$304

$35

$453

$88

'

'

DERIVATIVES_Textual_Details

DERIVATIVES (Textual) (Details) (USD $)	9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2013	Sep. 30, 2013	Dec. 31, 2012	Sep. 30, 2013	Dec. 31, 2012	Sep. 30, 2013	Sep. 30, 2013	Dec. 31, 2012	Sep. 30, 2013	Dec. 31, 2012
		Foreign exchange contracts	Foreign exchange contracts	Foreign exchange contracts	Foreign exchange contracts	Net investment contracts	Silver forward contract	Silver forward contract	Copper forward contract	Copper forward contract
		Designated as hedging instruments	Designated as hedging instruments	Not designated as hedging instruments	Not designated as hedging instruments	Designated as hedging instruments	Not designated as hedging instruments	Not designated as hedging instruments	Not designated as hedging instruments	Not designated as hedging instruments
							ozt	ozt	lb	lb
Derivative [Line Items]	'	'	'	'	'	'	'	'	'	'
Maximum period for which derivative contracts cover currency and commodity exposures	'2 years	'	'	'	'	'	'	'	'	'
Derivative, notional amount	'	$45,359	$39,597	$245,101	$189,259	$7,444	'	'	'	'
Notional amounts of forward contracts that are not designated as hedges	'	'	'	'	'	'	310,000	275,000	375,000	375,000
Gain expected to be reclassified from AOCI to earnings, next twelve months	($67)	'	'	'	'	'	'	'	'	'
Gain expected to be reclassified from AOCI to earnings, period of recognition	'12 months	'	'	'	'	'	'	'	'	'
Hedge ineffectiveness was immaterial	'Hedge ineffectiveness was immaterial in the nine months ended September 30, 2013 and 2012.	'	'	'	'	'	'	'	'	'

FAIR_VALUE_Details

FAIR VALUE (Details) (Recurring basis, USD $)	Sep. 30, 2013	Dec. 31, 2012
In Thousands, unless otherwise specified
Fair value.	'	'
Assets:	'	'
Total assets	$1,659	$1,593
Liabilities:	'	'
Contingent consideration	5,250	4,894
Deferred compensation	19,278	16,882
Total liabilities	26,304	23,003
Fair value. | Foreign exchange contracts	'	'
Assets:	'	'
Assets	1,370	862
Liabilities:	'	'
Liabilities	1,717	1,227
Fair value. | Net investment contracts	'	'
Liabilities:	'	'
Liabilities	2	'
Fair value. | Commodity contracts	'	'
Assets:	'	'
Assets	289	731
Liabilities:	'	'
Liabilities	57	'
Quoted Prices in Active Markets for Identical Assets or Liabilities (Level 1)	'	'
Assets:	'	'
Total assets	0	0
Liabilities:	'	'
Contingent consideration	0	0
Deferred compensation	0	0
Total liabilities	0	0
Quoted Prices in Active Markets for Identical Assets or Liabilities (Level 1) | Foreign exchange contracts	'	'
Assets:	'	'
Assets	0	0
Liabilities:	'	'
Liabilities	0	0
Quoted Prices in Active Markets for Identical Assets or Liabilities (Level 1) | Net investment contracts	'	'
Liabilities:	'	'
Liabilities	0	'
Quoted Prices in Active Markets for Identical Assets or Liabilities (Level 1) | Commodity contracts	'	'
Assets:	'	'
Assets	0	0
Liabilities:	'	'
Liabilities	0	'
Significant Other Observable Inputs (Level 2)	'	'
Assets:	'	'
Total assets	1,659	1,593
Liabilities:	'	'
Contingent consideration	0	0
Deferred compensation	19,278	16,882
Total liabilities	21,054	18,109
Significant Other Observable Inputs (Level 2) | Foreign exchange contracts	'	'
Assets:	'	'
Assets	1,370	862
Liabilities:	'	'
Liabilities	1,717	1,227
Significant Other Observable Inputs (Level 2) | Net investment contracts	'	'
Liabilities:	'	'
Liabilities	2	'
Significant Other Observable Inputs (Level 2) | Commodity contracts	'	'
Assets:	'	'
Assets	289	731
Liabilities:	'	'
Liabilities	57	'
Significant Unobservable Inputs (Level 3)	'	'
Assets:	'	'
Total assets	0	0
Liabilities:	'	'
Contingent consideration	5,250	4,894
Deferred compensation	0	0
Total liabilities	5,250	4,894
Significant Unobservable Inputs (Level 3) | Foreign exchange contracts	'	'
Assets:	'	'
Assets	0	0
Liabilities:	'	'
Liabilities	0	0
Significant Unobservable Inputs (Level 3) | Net investment contracts	'	'
Liabilities:	'	'
Liabilities	0	'
Significant Unobservable Inputs (Level 3) | Commodity contracts	'	'
Assets:	'	'
Assets	0	0
Liabilities:	'	'
Liabilities	$0	'

FAIR_VALUE_Textual_Details

FAIR VALUE (Textual) (Details) (USD $)	Sep. 30, 2013	Dec. 31, 2012	Sep. 30, 2013	Sep. 30, 2013
In Thousands, unless otherwise specified			SSCO Manufacturing, Inc. (d/b/a Arc Products)	Maximum
				SSCO Manufacturing, Inc. (d/b/a Arc Products)
Assets and liabilities measured at fair value on a recurring basis	'	'	'	'
Fair value of contingent consideration liability	'	'	$5,250	'
Increase in liability	'	'	356	'
Period of estimated sales as basis for contingent consideration	'	'	'5 years	'
Discount rate utilized for weighted average inputs for discounted cash flow analysis (as a percent)	'	'	9.70%	'
Compound annual revenue growth rate utilized weighted average inputs for discounted cash flow analysis (as a percent)	'	'	30.50%	65.60%
Cost of debt (as a percent)	'	'	3.50%	'
Risk adjusted cost of capital (as a percent)	'	'	14.10%	'
Fair value of long-term debt	1,503	1,919	'	'
Carrying value of long-term debt	$1,674	$2,055	'	'