Lincoln Electric (LECO) 10-K 26 Feb 25 2024 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($)	12 Months Ended
	Dec. 31, 2024	Jan. 31, 2025	Jun. 30, 2024
Cover page.
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 2024
Document Transition Report	false
Entity File Number	0-1402
Entity Registrant Name	LINCOLN ELECTRIC HOLDINGS INC
Entity Incorporation, State or Country Code	OH
Entity Tax Identification Number	34-1860551
Entity Address, Address Line One	22801 St. Clair Avenue
Entity Address, City or Town	Cleveland
Entity Address, State or Province	OH
Entity Address, Postal Zip Code	44117
City Area Code	216
Local Phone Number	481-8100
Title of 12(b) Security	Common Shares, without par value
Trading Symbol	LECO
Security Exchange Name	NASDAQ
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
ICFR Auditor Attestation Flag	true
Document Financial Statement Error Correction [Flag]	false
Entity Shell Company	false
Entity Public Float			$ 10,520,915,345
Entity Common Stock, Shares Outstanding		56,095,332
Entity Central Index Key	0000059527
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	FY
Amendment Flag	false
Auditor Name	Ernst & Young LLP
Auditor Firm ID	42
Auditor Location	Cleveland, Ohio

CONSOLIDATED STATEMENTS OF INCO

CONSOLIDATED STATEMENTS OF INCOME - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
CONSOLIDATED STATEMENTS OF INCOME
Net sales (Note 2)	$ 4,008,670	$ 4,191,636	$ 3,761,211
Cost of goods sold	2,535,758	2,726,191	2,480,451
Gross profit	1,472,912	1,465,445	1,280,760
Selling, general & administrative expenses	780,590	758,910	656,636
Rationalization and asset impairment net charges (Note 7)	55,860	(11,314)	11,788
Operating income	636,462	717,849	612,336
Interest expense, net	42,786	44,371	29,500
Other income (Note 12)	473	13,388	9,991
Income before income taxes	594,149	686,866	592,827
Income taxes (Note 13)	128,041	141,618	120,603
Net income	$ 466,108	$ 545,248	$ 472,224
Basic earnings per share (Note 3)	$ 8.23	$ 9.50	$ 8.14
Diluted earnings per share (Note 3)	8.15	9.37	8.04
Cash dividends declared per share	$ 2.88	$ 2.63	$ 2.32

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME
Net income	$ 466,108	$ 545,248	$ 472,224
Unrealized gain on derivatives designated and qualifying as cash flow hedges	719	2,627	5,815
Defined benefit pension plan activity	948	(215)	11,450
Currency translation adjustment	(71,955)	43,139	(35,084)
Other comprehensive (loss) income:	(70,288)	45,551	(17,819)
Comprehensive income	$ 395,820	$ 590,799	$ 454,405

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Current Assets
Cash and cash equivalents	$ 377,262	$ 393,787
Accounts receivable (less allowance for doubtful accounts of $12,674 in 2024; $11,464 in 2023)	481,979	538,830
Inventories (Note 16)	544,037	562,864
Other current assets	242,003	197,630
Total Current Assets	1,645,281	1,693,111
Property, plant and equipment (Note 1)	619,181	575,316
Intangibles, net (Note 5)	221,005	186,667
Goodwill (Note 5)	804,927	694,452
Deferred income taxes (Note 13)	77,611	45,176
Other assets	152,137	182,575
TOTAL ASSETS	3,520,142	3,377,297
Current Liabilities
Amounts due banks (Note 9)	10,520	2,435
Trade accounts payable	296,590	325,435
Accrued employee compensation and benefits	104,374	112,373
Dividends payable	42,158	40,453
Other current liabilities	325,156	273,910
Current portion of long-term debt (Note 9)	100,004	4
Total Current Liabilities	878,802	754,610
Long-term debt, less current portion (Note 9)	1,150,551	1,102,771
Deferred income taxes (Note 13)	10,464	13,146
Other liabilities	152,892	197,918
Total Liabilities	2,192,709	2,068,445
Shareholders' Equity
Preferred shares, without par value - at stated capital amount; authorized - 5,000,000 shares; issued and outstanding - none	0	0
Common shares, without par value - at stated capital amount; authorized - 240,000,000 shares; issued - 98,581,434 shares in 2024 and 2023; outstanding - 56,211,219 shares in 2024 and 56,975,815 shares in 2023	9,858	9,858
Additional paid-in capital	566,740	523,357
Retained earnings	3,993,016	3,688,038
Accumulated other comprehensive loss (Note 8)	(300,135)	(229,847)
Treasury shares, at cost - 42,370,215 shares in 2024 and 41,605,619 shares in 2023	(2,942,046)	(2,682,554)
Total Equity	1,327,433	1,308,852
TOTAL LIABILITIES AND TOTAL EQUITY	$ 3,520,142	$ 3,377,297

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
CONSOLIDATED BALANCE SHEETS
Accounts receivable, allowance for doubtful accounts (in dollars)	$ 12,674	$ 11,464
Preferred shares, authorized	5,000,000	5,000,000
Preferred shares, issued	0	0
Preferred shares, outstanding	0	0
Common shares, authorized	240,000,000	240,000,000
Common shares, issued	98,581,434	98,581,434
Common shares, outstanding	56,211,219	56,975,815
Treasury shares	42,370,215	41,605,619

CONSOLIDATED STATEMENTS OF EQUI

CONSOLIDATED STATEMENTS OF EQUITY - USD ($) $ in Thousands	Common Stock	Additional Paid-In Capital	Retained Earnings	Accumulated Other Comprehensive Income (Loss)	Treasury Shares	Total
Beginning Balance at Dec. 31, 2021	$ 9,858	$ 451,268	$ 2,970,303	$ (257,579)	$ (2,309,941)	$ 863,909
Beginning Balance (in shares) at Dec. 31, 2021	58,787,000
Increase (Decrease) in Stockholders' Equity
Net income			472,224			472,224
Defined benefit pension plan activity, net of tax				11,450		11,450
Unrealized gain on derivatives designated and qualifying as cash flow hedges, net of tax				5,815		5,815
Currency translation adjustment				(35,084)		(35,084)
Cash dividends declared			(134,931)			(134,931)
Stock-based compensation activity		29,194			2,458	31,652
Stock-based compensation activity (in shares)	211,000
Purchase of shares for treasury					(181,293)	(181,293)
Purchase of shares for treasury (in shares)	(1,374,000)
Other		1,395	(1,096)			299
Ending Balance at Dec. 31, 2022	$ 9,858	481,857	3,306,500	(275,398)	(2,488,776)	1,034,041
Ending Balance (in shares) at Dec. 31, 2022	57,624,000
Increase (Decrease) in Stockholders' Equity
Net income			545,248			545,248
Defined benefit pension plan activity, net of tax				(215)		(215)
Unrealized gain on derivatives designated and qualifying as cash flow hedges, net of tax				2,627		2,627
Currency translation adjustment				43,139		43,139
Cash dividends declared			(151,513)			(151,513)
Stock-based compensation activity		43,609			4,987	48,596
Stock-based compensation activity (in shares)	451,000
Purchase of shares for treasury					(198,765)	(198,765)
Purchase of shares for treasury (in shares)	(1,098,000)
Other		(2,109)	(12,197)			(14,306)
Ending Balance at Dec. 31, 2023	$ 9,858	523,357	3,688,038	(229,847)	(2,682,554)	$ 1,308,852
Ending Balance (in shares) at Dec. 31, 2023	56,977,000					56,975,815
Increase (Decrease) in Stockholders' Equity
Net income			466,108			$ 466,108
Defined benefit pension plan activity, net of tax				948		948
Unrealized gain on derivatives designated and qualifying as cash flow hedges, net of tax				719		719
Currency translation adjustment				(71,955)		(71,955)
Cash dividends declared			(163,875)			(163,875)
Stock-based compensation activity		47,197			4,259	51,456
Stock-based compensation activity (in shares)	463,000
Purchase of shares for treasury					(263,751)	(263,751)
Purchase of shares for treasury (in shares)	(1,229,000)
Other		(3,814)	2,745			(1,069)
Ending Balance at Dec. 31, 2024	$ 9,858	$ 566,740	$ 3,993,016	$ (300,135)	$ (2,942,046)	$ 1,327,433
Ending Balance (in shares) at Dec. 31, 2024	56,211,000					56,211,219

CONSOLIDATED STATEMENTS OF EQ_2

CONSOLIDATED STATEMENTS OF EQUITY (Parenthetical) - $ / shares	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
CONSOLIDATED STATEMENTS OF EQUITY
Cash dividends declared per share (in dollars per share)	$ 2.88	$ 2.63	$ 2.32

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
CASH FLOWS FROM OPERATING ACTIVITIES
Net income	$ 466,108	$ 545,248	$ 472,224
Adjustments to reconcile Net income to Net cash provided by operating activities:
Rationalization and asset impairment net charges (Note 7)	20,887	4,779	8,100
Depreciation and amortization	88,238	86,670	78,059
Gain on sale of property	0	(36,187)	0
Deferred income taxes (Note 13)	(40,328)	(20,926)	(48,207)
Stock-based compensation	24,052	26,231	25,267
Pension settlement net charges	3,792	0	0
Other, net	(6,780)	(17,464)	11,982
Changes in operating assets and liabilities, net of effects from acquisitions:
Decrease (increase) in accounts receivable	52,829	14,980	(65,010)
Decrease (increase) in inventories	25,355	122,094	(81,188)
(Increase) in other current assets	(41,558)	(35,608)	(18,297)
(Decrease) increase in trade accounts payable	(27,189)	(32,028)	16,852
Increase (decrease) in other current liabilities	32,703	10,056	(8,199)
Net change in other assets and liabilities	868	(303)	(8,197)
NET CASH PROVIDED BY OPERATING ACTIVITIES	598,977	667,542	383,386
CASH FLOWS FROM INVESTING ACTIVITIES
Capital expenditures	(116,603)	(90,987)	(71,883)
Acquisition of businesses, net of cash acquired (Note 4)	(252,746)	(32,685)	(436,298)
Proceeds from sale of property, plant and equipment	7,798	49,494	3,331
Other investing activities	320	(551)	159
NET CASH USED BY INVESTING ACTIVITIES	(361,231)	(74,729)	(504,691)
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from (payments on) on short-term borrowings	8,449	(79,873)	34,351
Proceeds from long-term borrowings	550,000	0	405,444
Payments on long-term borrowings	(400,677)	(8,109)	0
Proceeds from exercise of stock options	27,404	22,365	6,385
Purchase of shares for treasury	(263,751)	(198,765)	(181,293)
Cash dividends paid to shareholders	(162,143)	(148,010)	(130,724)
Other financing activities	(3,922)	0	(438)
NET CASH (USED BY) PROVIDED BY FINANCING ACTIVITIES	(244,640)	(412,392)	133,725
Effect of exchange rate changes on Cash and cash equivalents	(9,631)	16,216	(8,228)
(DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS	(16,525)	196,637	4,192
Cash and cash equivalents at beginning of period	393,787	197,150	192,958
CASH AND CASH EQUIVALENTS AT END OF PERIOD	$ 377,262	$ 393,787	$ 197,150

SIGNIFICANT ACCOUNTING POLICIES

SIGNIFICANT ACCOUNTING POLICIES	12 Months Ended
	Dec. 31, 2024
SIGNIFICANT ACCOUNTING POLICIES
SIGNIFICANT ACCOUNTING POLICIES	NOTE 1 – SIGNIFICANT ACCOUNTING POLICIES Principles of Consolidation The consolidated financial statements include the accounts of Lincoln Electric Holdings, Inc. and its wholly-owned and majority-owned subsidiaries for which it has a controlling interest (the "Company") after elimination of all inter-company accounts, transactions and profits. Certain reclassifications have been made to the prior period amounts to conform to the current period presentation, none of which are material. General Information The Company is the world leader in the design, development and manufacture of arc welding products, automated joining, assembly and cutting systems, plasma and oxy-fuel cutting equipment. The Company also has a leading global position in brazing and soldering alloys. The Company’s products include arc welding, brazing and soldering filler metals (consumables), arc welding equipment, plasma and oxyfuel cutting systems, wire feeding systems, fume control equipment, welding accessories, specialty gas regulators, and education solutions; as well as a comprehensive portfolio of automated solutions for joining, cutting, material handling, module assembly, and end of line testing. In March 2022, in response to Russia’s invasion of Ukraine, the Company announced it was ceasing operations in Russia and implementing plans to support its Russian employees. In May 2024, the Company disposed of its Russian entity and completed its exit from the Russian market. As a result, $22,566 of cumulative translation adjustment previously recognized within Other comprehensive income (loss) was recorded to Rationalization and asset impairment charges on the Consolidated Statements of Income in the year ended December 31, 2024. ​ Translation of Foreign Currencies Asset and liability accounts are translated into U.S. dollars using exchange rates in effect at the dates of the Consolidated Balance Sheets; revenue and expense accounts are translated at average monthly exchange rates. Translation adjustments are reflected as a component of Total equity. For subsidiaries operating in highly inflationary economies, both historical and current exchange rates are used in translating balance sheet accounts and translation adjustments are included in Net income. An economy is considered highly inflationary under generally accepted accounting principles in the United States (“GAAP”) if the cumulative inflation rate for a three-year period meets or exceeds 100 percent. The Turkish economy exceeded the three-year cumulative inflation rate of percent during the second quarter of 2022. As a result, the financial statements of the Company’s Turkish operation are reported under highly inflationary accounting rules as of April 1, 2022. Under highly inflationary accounting, the financial statements of the Company’s Turkish operation have been remeasured into the Company’s reporting currency (U.S. dollar). Beginning April 1, 2022, the exchange gains and losses from the remeasurement of monetary assets and liabilities are reflected in current earnings, rather than “Accumulated other comprehensive loss” on the Consolidated Balance Sheet. For the years ended December 31, 2024, 2023 and 2022, this impact was not significant to the Company’s results. ​ The translation of assets and liabilities originally denominated in foreign currencies into U.S. dollars is for consolidation purposes, and does not necessarily indicate that the Company could realize or settle the reported value of those assets and liabilities in U.S. dollars. Additionally, such a translation does not necessarily indicate that the Company could return or distribute the reported U.S. dollar value of the net equity of its foreign operations to shareholders. Foreign currency transaction net (gains) losses are included in Selling, general & administrative expenses and were Cash Equivalents The Company considers all highly liquid investments with a maturity of three months or less when purchased to be cash equivalents. Inventories Inventories are valued at the lower of cost or net realizable value. Fixed manufacturing overhead costs are allocated to inventory based on normal production capacity and abnormal manufacturing costs are recognized as period costs. Cost for a substantial portion of U.S. inventories is determined on a last-in, first-out (“LIFO”) basis. At December 31, 2024 and 2023, approximately 35% and 37% of total inventories, respectively, were valued using the LIFO method. Cost of other inventories is determined by costing methods that approximate a first-in, first-out (“FIFO”) basis. Refer to Note 16 for additional details. Reserves are maintained for estimated obsolescence or excess inventory equal to the difference between the cost of inventory and the estimated net realizable value based upon historical usage, future demand and market conditions. The reserve for excess and obsolete inventory was $31,072 and $31,881 at December 31, 2024 and 2023, respectively. Long-lived Assets Property, Plant and Equipment Property, plant and equipment are stated at cost and include improvements which significantly increase capacities or extend the useful lives of existing plant and equipment. Depreciation and amortization are computed using a straight-line method over useful lives ranging from 3 years to 20 years for machinery, tools and equipment, and up to 40 years for buildings. Net gains or losses related to asset dispositions are recognized in earnings in the period in which dispositions occur. Routine maintenance, repairs and replacements are expensed as incurred. The Company capitalizes interest costs associated with long-term construction in progress. Property, plant and equipment, net in the Consolidated Balance Sheet is comprised of the following components: ​ ​ ​ ​ ​ ​ ​ ​ December 31, ​ 2024 2023 Land $ 64,016 ​ $ 67,949 Buildings 445,319 ​ 445,041 Machinery and equipment 975,480 ​ 939,316 ​ 1,484,815 ​ 1,452,306 Less accumulated depreciation 865,634 ​ 876,990 Total $ 619,181 ​ $ 575,316 ​ ​ ​ ​ Leases The Company determines if an agreement is a lease at inception. The Company records a right-of-use asset on its Consolidated Balance Sheets to represent its right to use an underlying asset for the lease term. The Company records a lease liability on its Consolidated Balance Sheets to represent its obligation to make lease payments arising from the lease. Operating lease right-of-use assets and liabilities are recognized at the lease commencement date based on the present value of lease payments over the lease term. As most of the Company’s operating leases do not provide an implicit rate, the Company uses its incremental borrowing rate based on information available at commencement date to present value the lease payments. The Company has operating leases for sales offices, manufacturing facilities, warehouses and distribution centers, transportation equipment, office equipment and information technology equipment. Some of these leases are noncancelable. Variable or short-term lease costs contained within the Company’s operating leases are not material. Most leases include one or more options to The depreciable life of assets and leasehold improvements are limited by the expected lease term, unless there is a transfer of title or purchase option reasonably certain of exercise. The Company’s lease agreements do not contain any material residual value guarantees or material restrictive covenants. Impairments The Company periodically evaluates whether current facts or circumstances indicate that the carrying value of its depreciable long-lived assets, including right-of-use assets and finite-lived intangible assets, to be held and used may not be recoverable. If such circumstances are determined to exist, an estimate of undiscounted future cash flows produced by the long-lived asset, or the appropriate grouping of assets, is compared to the carrying value to determine whether impairment exists. If an asset is determined to be impaired, a loss is recognized to the extent that carrying value exceeds fair value. Fair value is measured based on quoted market prices in active markets, if available. If quoted market prices are not available, the estimate of fair value is based on various valuation techniques, including the discounted value of estimated future cash flows. Refer to Notes 5, 7 and 17 for additional details. Goodwill and Intangibles Goodwill is recorded when the cost of acquired businesses exceeds the fair value of the identifiable net assets acquired. Intangible assets other than goodwill are recorded at fair value at the time acquired or at cost, if applicable. Intangible assets that do not have indefinite lives are amortized in line with the pattern in which the economic benefits of the intangible asset are consumed. If the pattern of economic benefit cannot be reliably determined, the intangible assets are amortized on a straight-line basis over the shorter of the legal or estimated life. These types of assets are assessed for impairment in a manner consistent with long-lived assets described above. Goodwill and indefinite-lived intangible assets are not amortized, but are tested for impairment in the fourth quarter using the same date each year or more frequently if changes in circumstances or the occurrence of events indicate potential impairment. In performing the annual impairment test, the fair value of each indefinite-lived intangible asset is compared to its carrying value and an impairment charge is recorded if the carrying value exceeds the fair value. For goodwill, the Company first assesses qualitative factors to determine whether it is more-likely-than-not that the fair value of a reporting unit is less than its carrying amount, and whether it is necessary to perform the quantitative goodwill impairment test. The quantitative test is only required if the Company concludes that it is more-likely-than-not that a reporting unit’s fair value is less than its carrying amount. The Company may also perform a quantitative test in instances where the more-likely-than-not threshold has not been met, including when general macroeconomic conditions or changes to the reporting unit warrant a refresh of the baseline used in a qualitative test. For quantitative testing, the Company compares the fair value of each reporting unit with its carrying amount. If the carrying amount exceeds the fair value, an impairment charge is recognized for the amount by which the carrying amount exceeds the reporting unit’s fair value, not to exceed the total amount of goodwill allocated to that reporting unit. Fair values are determined using established business valuation techniques and models developed by the Company, estimates of market participant assumptions of future cash flows, future growth rates and discount rates to value estimated cash flows. Changes in economic and operating conditions, actual growth below the assumed market participant assumptions or an increase in the discount rate could result in an impairment charge in a future period. Refer to Note 5 for additional details. Fair Value Measurements Financial assets and liabilities, such as the Company’s defined benefit pension plan assets and derivative contracts, are valued at fair value using the market and income valuation approaches. 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 that measure fair value: ​ ​ ​ ​ Level 1 ​ Inputs to the valuation methodology are unadjusted quoted prices for identical assets or liabilities in active markets. Level 2 ​ Inputs to the valuation methodology include: ​ ​ · ​ ​ · ​ ​ · ​ ​ · ​ ​ If the asset or liability has a specific (contractual) term, the Level 2 input must be observable for substantially the full term of the asset or liability. Level 3 ​ Inputs to the valuation methodology are unobservable and significant to the fair value measurement. ​ Refer to Notes 11 and 15 for additional details. Revenue Recognition Revenue is recognized when obligations under the terms of a contract are satisfied and control is transferred to the customer. Revenue is measured as the amount of consideration the Company expects to be entitled to in exchange for goods or services. Substantially all of the Company’s sales arrangements are short-term in nature involving a single performance obligation. The Company recognizes revenue when the performance obligation is satisfied and control of the product is transferred to the customer generally based upon shipping terms. In addition, certain customized automation performance obligations are accounted for over time. Under this method, revenue recognition is primarily based upon the ratio of costs incurred to date compared with estimated total costs to complete. The cumulative impact of revisions to total estimated costs is reflected in the period of the change, including anticipated losses. Approximately 10% of the Company’s Net sales are recognized over time. The Company recognizes any discounts, credits, returns, rebates and incentive programs based on reasonable estimates as a reduction of sales to arrive at Net sales at the same time the related revenue is recorded. Taxes collected by the Company, including sales tax and value added tax, are excluded from Net sales. The Company recognizes freight billed as a component of Net sales and shipping costs as a component of Cost of goods sold when control transfers to the customer. Sales commissions are expensed when incurred because the amortization period is generally one year or less. These costs are recorded within Selling, general and administrative expenses in the Company’s Consolidated Statements of Income. The Company’s payment terms vary by the type and location of the customer and the products or services offered. The Company does not offer any payment terms that would meet the requirements for consideration as a financing component under Accounting Standards Codification Topic 606. Refer to Note 2 for additional details. Distribution Costs Distribution costs, including warehousing and freight related to product shipments, are included in Cost of goods sold. Stock-Based Compensation Expense is recognized for all awards of stock-based compensation by allocating the aggregate grant date fair value over the vesting period. No expense is recognized for any stock options, restricted or deferred shares or restricted stock units ultimately forfeited because the recipients fail to meet vesting requirements. Common stock issuable upon the exercise of employee stock options is excluded from the calculation of diluted earnings per share when the calculation of option equivalent shares is anti-dilutive. Refer to Note 10 to the consolidated financial statements for additional details. Financial Instruments The Company uses derivative instruments to manage exposures to interest rates, commodity prices and currency exchange rate fluctuations on certain purchase and sales transactions, balance sheet and net investment exposures. Derivative contracts to hedge currency and commodity exposures are generally written on a short-term basis, but may cover exposures for up to 3 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 Net cash provided by operating activities in the Company’s Consolidated Statements of Cash Flows. 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. Cash flow hedges Certain foreign currency forward contracts and commodity contracts are qualified and designated as cash flow hedges. The effective portion of the fair value unrealized gain or loss on cash flow hedges are reported as a component of Accumulated other comprehensive income ("AOCI") with offsetting amounts recorded as Other current assets, Other assets, Other current liabilities or Other liabilities depending on the position and the duration of the contract. At settlement, the realized gain or loss is recorded in Cost of goods sold or Net sales for hedges of purchases and sales, respectively, in the same period or periods during which the hedged transaction affects earnings. The ineffective portion on cash flow hedges is recognized in current earnings. ​ Net investment hedges For derivative instruments that qualify as a net investment hedge, the effective portion of the fair value gains or losses are recognized in AOCI with offsetting amounts recorded as Other current assets, Other assets, Other current liabilities or Other liabilities depending on the position and the duration of the contract. The gains or losses are 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 which are not designated as hedges. These derivatives are held as hedges of certain balance sheet exposures. The gains or losses on t Refer to Note 14 to the consolidated financial statements for additional details. Research and Development Research and development costs are charged to Selling, general and administrative expenses as incurred and totaled $81,821, $71,235 and $63,207 in 2024, 2023 and 2022, respectively. Bonus The Company’s discretionary employee bonus programs, which for certain U.S.-based employees are net of medical costs, are included in Selling, general and administrative expenses. Bonus costs were $166,554, $192,498 and $159,281 in 2024, 2023 and 2022, respectively. Income Taxes Deferred income taxes are recognized at currently enacted tax rates for temporary differences between the GAAP and income tax basis of assets and liabilities and operating loss and tax credit carry-forwards. In assessing the realizability of deferred tax assets, the Company assesses whether it is more-likely-than-not that a portion or all of the deferred tax assets will not be realized. The Company maintains liabilities for unrecognized tax benefits related to uncertain income tax positions in various jurisdictions. The Company uses judgment in determining whether the technical merits of tax positions are more-likely-than-not to be sustained. Judgment is also used in measuring the related amount of tax benefit that qualifies for recognition, including the interpretation of applicable tax law, regulations and tax rulings. The Company elects to treat any Global Intangible Low Taxed Income inclusion as a period expense in the year incurred. Refer to Note 13 for additional details. Acquisitions The acquisition of a business is accounted for as a business combination, which requires the assets acquired and liabilities assumed be recognized at their respective fair values as of the acquisition date. The process of estimating the fair values of certain tangible assets, identifiable intangible assets and assumed liabilities requires the use of judgment in determining the appropriate assumptions and estimates. The Company uses the income, market or cost approach (or a combination thereof) for the valuation as appropriate. The valuation inputs in these models and analyses are based on market participant assumptions. Market participants are considered to be buyers and sellers unrelated to the Company in the principal or most advantageous market for the asset or liability. Fair value estimates are based on a series of judgments about future events and uncertainties and rely on estimates and assumptions. Management values property, plant and equipment using the cost approach supported where available by observable market data, which includes consideration of obsolescence. Management values acquired intangible assets using the relief from royalty method or excess earnings method, forms of the income approach supported by observable market data for peer companies. The significant assumptions used to estimate the value of the acquired intangible assets include discount rates and certain assumptions that form the basis of future cash flows (such as revenue growth rates, customer attrition rates, and royalty rates). Acquired inventories are marked to fair value. For certain items, the pre-acquisition carrying value is determined to be a reasonable approximation of fair value based on information available to the Company. Refer to Note 4 for additional details. Estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions in certain circumstances that affect the amounts reported in the accompanying consolidated financial statements and notes. Actual results could differ from these estimates. New Accounting Pronouncements The following section provides a description of new Accounting Standards Updates (“ASU”) issued by the Financial Accounting Standards Board ("FASB") that are applicable to the Company. The following ASUs were adopted as of January 1, 2024 and did not have a significant financial impact on the Company’s consolidated financial statements unless otherwise described within the table below: ​ Standard Description ASU No. 2023-07, Segment Reporting (Topic 280) ​ Requires enhanced disclosures about significant segment expenses, including significant segment expenses that are regularly provided to the chief operating decision maker (“CODM”), the title and position of the CODM, an amount for other segment items by reportable segment, and disclosures about segment profit or loss and assets on an annual and interim basis. The amendments are effective for annual periods beginning January 1, 2024, and interim periods beginning January 1, 2025. Refer to Note 6 for the impacts on the Company’s consolidated financial statements. ASU No. 2023-01, Leases-Common Control Arrangements (Topic 842) Requires a lessee in a common-control arrangement to amortize leasehold improvements that it owns over the improvements’ useful life, regardless of the lease term. The requirements of the ASU are effective January 1, 2024. ASU No. 2022-04, Liabilities-Supplier Finance Programs (Subtopic 405-50) Requires disclosure about a company’s supplier finance programs, including a period-over-period balance roll forward. This requirement of the ASU is effective January 1, 2024 and should be applied prospectively. Refer to Note 19. ​ The Company is currently evaluating the impact on its financial statements of the following ASUs: ​ ​ ​ ​ Standard Description ASU No. 2024-03, Income Statement-Reporting Comprehensive Income-Expense Disaggregation Disclosures ​ Requires enhanced disclosures of specified information about certain costs and expenses. The amendments are effective for annual periods beginning January 1, 2027, and interim periods beginning January 1, 2028. Early adoption is prohibited. ASU No. 2023-06, Disclosure Improvements ​ Requires amending certain disclosure and presentation requirements for a variety of topics within the ASC. The effective date for each amended topic in the ASC is either the date on which the SEC’s removal of the related disclosure requirement from Regulation S-X or S-K becomes effective, or June 30, 2027, if the SEC has not removed the requirements by that date. Early adoption is prohibited. ASU No. 2023-09, Income Taxes (Topic 740) ​ Requires disclosure of specific categories in rate reconciliation and additional information for reconciling items that meet a quantitative threshold, additional information about income taxes paid, and disclosure of disaggregated income tax information. The amendments are effective January 1, 2025 and early adoption is permitted. ​

REVENUE RECOGNITION

REVENUE RECOGNITION	12 Months Ended
	Dec. 31, 2024
REVENUE RECOGNITION
REVENUE RECOGNITION	​ NOTE 2 — REVENUE RECOGNITION The following table presents the Company’s Net sales disaggregated by product line: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended December 31, ​ 2024 2023 2022 Consumables ​ $ 2,088,721 ​ $ 2,212,314 ​ $ 2,183,019 Equipment ​ 1,919,949 ​ 1,979,322 ​ 1,578,192 Net sales ​ $ 4,008,670 ​ $ 4,191,636 ​ $ 3,761,211 ​ Consumable sales consist of welding, brazing and soldering filler metals. Equipment sales consist of arc welding equipment, welding accessories, wire feeding systems, fume control equipment, plasma and oxy-fuel cutting systems, specialty gas regulators, and education solutions; as well as a comprehensive portfolio of automated solutions for joining, cutting, material handling, module assembly, and end of line testing. Consumable and Equipment products are sold within each of the Company’s operating segments. Within the Equipment product line, there are certain customer contracts related to automation products that may include multiple performance obligations. For such arrangements, the Company allocates revenue to each performance obligation based on its relative standalone selling price. The Company generally determines the standalone selling price based on the prices charged to customers or using expected cost plus margin. Approximately At December 31, 2024, the Company recorded $63,473 related to advance customer payments and $57,960 related to billings in excess of revenue recognized. These contract liabilities are included in Other current liabilities in the Consolidated Balance Sheets. At December 31, 2023, the balances related to advance customer payments and billings in excess of revenue recognized were months based on contract duration. The Company records an asset for contracts where it has recognized revenue, but has not yet invoiced the customer for goods or services. At December 31, 2024 and 2023, , respectively, related to these contract assets which are included in Other current assets in the Consolidated Balance Sheets. Contract asset amounts are expected to be billed within the next twelve months.

EARNINGS PER SHARE

EARNINGS PER SHARE	12 Months Ended
	Dec. 31, 2024
EARNINGS PER SHARE
EARNINGS PER SHARE	NOTE 3 - EARNINGS PER SHARE The following table sets forth the computation of basic and diluted earnings per share: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended December 31, ​ 2024 2023 2022 Numerator: ​ ​ ​ Net income ​ $ 466,108 ​ $ 545,248 ​ $ 472,224 Denominator (shares in 000's): ​ ​ ​ Basic weighted average shares outstanding ​ 56,639 ​ 57,364 ​ 58,030 Effect of dilutive securities - Stock options and awards ​ 555 ​ 857 ​ 719 Diluted weighted average shares outstanding ​ 57,194 ​ 58,221 ​ 58,749 Basic earnings per share ​ $ 8.23 ​ $ 9.50 ​ $ 8.14 Diluted earnings per share ​ $ 8.15 ​ $ 9.37 ​ $ 8.04 ​ For the years ended December 31, 2024, 2023 and 2022, common shares subject to equity-based awards of 20,495, 69,901 and 127,358, respectively, were excluded from the computation of diluted earnings per share because the effect of their exercise would be anti-dilutive.

ACQUISITIONS

ACQUISITIONS	12 Months Ended
	Dec. 31, 2024
ACQUISITIONS
ACQUISITIONS	NOTE 4 – ACQUISITIONS The acquired companies are accounted for as business combinations and are included in the consolidated financial statements as of the date of acquisition. The acquired companies discussed below are not material individually, or in the aggregate, to the actual or pro forma Consolidated Statements of Income or Consolidated Statements of Cash Flows; as such, pro forma information related to these acquisitions has not been presented. ​ On July 30, 2024, the Company acquired 100% ownership of Vanair Manufacturing, LLC (“Vanair”), a privately held, Michigan City, Indiana-based, manufacturer for a total purchase price of $109,993, net of cash acquired and certain debt-like items. In 2023, Vanair generated sales of approximately $100,000 (unaudited). Vanair offers a comprehensive portfolio of mobile power solutions, including vehicle-mounted compressors, generators, welders, hydraulics, chargers/boosters, and electrified power equipment. ​ On June 3, 2024, the Company acquired 100% ownership of Inrotech A/S (“Inrotech”), a privately held automation system integration and technology firm headquartered in Odense, Denmark. The purchase price was $42,352, net of cash acquired. Inrotech specializes in automated welding systems that are differentiated by proprietary adaptive intelligence software and computer vision which guides and optimizes the welding process without the need for programming or the use of computer aided design files. The state-of-the-art vision-based technology is used in the shipbuilding, energy, and heavy industry sectors, where welding accessibility can be challenging for traditional automated systems, but precision and quality are mission critical. ​ On April 1, 2024, the Company acquired 100% ownership of Superior Controls, LLC (“RedViking”), a privately held automation system integrator based in Plymouth, Michigan. The purchase price was $108,844 , net of cash acquired. In 2023, RedViking generated sales of approximately $70,000 (unaudited). RedViking specializes in the development and integration of state-of-the-art autonomous guided vehicles and mobile robots, custom assembly and dynamic test systems, and proprietary manufacturing execution system software. The acquisition broadened the Company’s portfolio of automation solutions and extends the Company’s ability to serve customers in the growing aerospace and defense industries. ​ On May 3, 2023, the Company acquired 100% ownership of Powermig Automação e Soldagem Ltda. (“Powermig”), a privately held automation engineering firm headquartered in Caxias do Sul, Rio Grande do Sul, in Brazil. The purchase price was $29,572 , net of cash acquired. Powermig specializes in designing and engineering industrial welding automation solutions for the heavy industry and transportation sectors. The acquisition broadened the Company’s automation portfolio and capabilities. On December 1, 2022, the Company acquired 100% ownership of Fori Automation, LLC (“Fori”) for an agreed upon purchase price of $427,000, which was adjusted for certain debt like obligations, for total purchase price consideration of $468,683 or $416,353, net of cash acquired. Fori is a leading designer and manufacturer of complex, multi-armed automated welding systems, with an extensive range of automated assembly systems, automated material handling solutions, automated large-scale, industrial guidance vehicles, and end of line testing systems. The acquisition of Fori extended the Company’s market presence within the automotive sector as well as its automation footprint in the International Welding segment. ​ The acquisition of Fori was accounted for as a business combination, which required the assets acquired and liabilities assumed be recognized at their respective fair values as of the acquisition date. The process of estimating the fair values of certain tangible assets, identifiable intangible assets and assumed liabilities required the use of judgment in determining the appropriate assumptions and estimates. The table below summarizes the final fair values of the assets acquired and liabilities assumed on the acquisition date. ​ ​ ​ ​ ​ ​ Assets Acquired and Liabilities Assumed Purchase Price Allocation Cash and cash equivalents ​ $ 52,330 Accounts receivable ​ ​ 64,439 Inventory ​ 67,763 Property, plant and equipment (1) ​ 36,863 Intangible assets (2) ​ 69,350 Accounts payable ​ 17,996 Net other assets and liabilities (3) ​ 195,934 Total purchase price consideration ​ $ 468,683 ​ (1) Property, plant and equipment acquired includes a number of manufacturing and distribution sites, including the related facilities, land and leased sites, and machinery and equipment for use in manufacturing operations. ​ (2) Intangible asset balances of $22,000 and $18,200 , respectively, were assigned to trade names and customer relationships ( 15 year weighted average useful life). Of the remaining amount, $24,900 was assigned to technology know-how ( 10 year weighted average useful life) and $4,250 was assigned to restrictive covenants ( 4 year weighted average life). ​ (3) Consists primarily of goodwill of $244,325 . ​ Goodwill is calculated as the excess of the consideration transferred over the net assets recognized and represents the anticipated synergies of acquiring Fori. A portion of the goodwill is deductible for tax purposes. ​ On March 1, 2022, the Company acquired 100% ownership of Kestra Universal Soldas, Industria e Comercio, Imporacao e Exportacao Ltda. (“Kestra”), a privately held manufacturer headquartered in Atibaia, Sao Paulo State, Brazil. The purchase price was $22,294 , net of cash acquired. Kestra manufactures and provides specialty welding consumables, wear plates and maintenance and repair services for alloy and wear-resistant products commonly used in mining, steel, agricultural and industrial mill applications. The acquisition broadened the Company’s specialty alloys portfolio and services. ​ During the years ended December 31, 2024, 2023 and 2022, the Company recognized acquisition costs of $7,042 , $0 respectively, which are included in on the Consolidated Statements of Income and are expensed as incurred.

GOODWILL AND INTANGIBLES

GOODWILL AND INTANGIBLES	12 Months Ended
	Dec. 31, 2024
GOODWILL AND INTANGIBLES
GOODWILL AND INTANGIBLES	​ ​ ​ NOTE 5 – GOODWILL AND INTANGIBLES The changes in the carrying amount of goodwill by reportable segments for the years ended December 31, 2024 and 2023 were as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ The Harris ​ ​ ​ Americas ​ International ​ Products ​ ​ ​ ​ Welding Welding Group Consolidated Balance as of December 31, 2022 $ 492,187 ​ $ 129,919 ​ $ 43,151 ​ $ 665,257 Additions and adjustments (1) (2,899) ​ ​ 23,111 ​ ​ — ​ 20,212 Foreign currency translation 8,312 ​ ​ 449 ​ ​ 222 ​ 8,983 Balance as of December 31, 2023 497,600 ​ 153,479 ​ 43,373 ​ 694,452 Additions and adjustments (2) 101,657 ​ ​ 33,427 ​ ​ — ​ 135,084 Foreign currency translation (13,443) ​ ​ (10,644) ​ ​ (522) ​ (24,609) Balance as of December 31, 2024 $ 585,814 ​ $ 176,262 ​ $ 42,851 ​ $ 804,927 ​ (1) Adjustments to Americas Welding reflect goodwill recognized in the acquisition of Powermig offset by Fori purchase accounting adjustments in 2023. Additions to International Welding reflect Fori purchase accounting adjustments in 2023. (2) Additions to Americas Welding reflect goodwill recognized in the acquisitions of Vanair and RedViking. Additions to International Welding reflect goodwill recognized in the acquisition of Inrotech. Gross carrying values and accumulated amortization of intangible assets other than goodwill by asset class were as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2024 ​ December 31, 2023 ​ ​ Gross Accumulated Gross Accumulated ​ Amount Amortization Amount Amortization Intangible assets not subject to amortization ​ ​ ​ ​ ​ Trademarks and trade names ​ $ 16,208 ​ ​ $ 16,038 ​ Intangible assets subject to amortization ​ ​ ​ ​ Trademarks and trade names ​ $ 106,512 ​ $ 55,078 ​ $ 93,065 ​ $ 52,510 Customer relationships ​ 192,196 ​ 106,719 ​ 171,338 ​ 102,643 Technology and know-how ​ ​ 82,019 ​ ​ 29,478 ​ ​ 68,365 ​ ​ 24,602 Patents ​ 23,901 ​ 16,008 ​ 25,150 ​ 15,879 Other ​ 42,315 ​ 34,863 ​ 43,451 ​ 35,106 Total intangible assets subject to amortization ​ $ 446,943 ​ $ 242,146 ​ $ 401,369 ​ $ 230,740 ​ During 2024, the Company acquired intangible assets either individually or as part of a group of assets, with an initial purchase price allocation and weighted-average useful-life as follows: ​ ​ ​ ​ ​ ​ ​ Year Ended December 31, 2024 ​ Purchase Price ​ Weighted ​ Allocation Average Life Acquired intangible assets subject to amortization Trademarks and trade names $ 17,977 15 Customer relationships 32,203 14 Technology and know-how 17,222 10 Other 2,075 5 Total acquired intangible assets subject to amortization $ 69,477 ​ Aggregate amortization expense was $27,075, $25,983 and $21,908 for 2024, 2023 and 2022, respectively. During 2023, the Company determined that for certain intangible assets, the carrying value of the assets exceeded the fair value resulting in an impairment. The Company recognized non-cash impairment charges of in 2023 which is recorded in Rationalization and asset impairment charges in the Company’s Consolidated Statements of Income. At December 31, 2024, the Company’s estimated annual amortization expense for intangible assets for each of the next five years is

SEGMENT INFORMATION

SEGMENT INFORMATION	12 Months Ended
	Dec. 31, 2024
SEGMENT INFORMATION
SEGMENT INFORMATION	NOTE 6 – SEGMENT INFORMATION The Company’s primary business is the design, development and manufacture of arc welding products, automated joining, assembly and cutting systems, plasma and oxy-fuel cutting equipment. The Company also has a leading global position in brazing and soldering alloys. The Company’s products include arc welding, brazing and soldering filler metals (consumables), arc welding equipment, plasma and oxyfuel cutting systems, wire feeding systems, fume control equipment, welding accessories, specialty gas regulators, and education solutions; as well as a comprehensive portfolio of automated solutions for joining, cutting, material handling, module assembly, and end of line testing. The Company has aligned its organizational and leadership structure into three operating segments to support growth strategies and enhance the utilization of the Company’s worldwide resources and global sourcing initiatives. The operating segments consist of Americas Welding, International Welding and The Harris Products Group. The Americas Welding segment includes welding operations in North and South America. The International Welding segment includes welding operations in Europe, Africa, Asia and Australia. The Harris Products Group includes the Company’s global cutting, soldering and brazing businesses, specialty gas equipment, as well as its retail business in the United States. Segment performance is measured and resources are allocated based on a number of factors, the primary measure being the adjusted earnings before interest and income taxes ("Adjusted EBIT") profit measure. EBIT is defined as Operating income plus Other income. 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. The Company’s chief operating decision maker (“CODM”) is the Chief Executive Officer. The CODM uses segment Adjusted EBIT to allocate resources for each segment predominantly in establishing the Company’s long-term strategy and in developing the annual budget. The CODM considers actual performance using Adjusted EBIT when making decisions about allocating capital and resources to the segments. The accounting principles applied at the operating segment level are generally the same as those applied at the consolidated financial statement level with the exception of LIFO. Segment assets include inventories measured on a FIFO basis while consolidated inventories include inventories reported on a LIFO basis. Segment and consolidated income before interest and income taxes include the effect of inventories reported on a LIFO basis. At December 31, 2024, 2023 and 2022 approximately 35%, 37% and 38%, respectively, of total inventories were valued using the LIFO method. LIFO is used for a substantial portion of U.S. inventories included in Americas Welding. Inter-segment sales are recorded at agreed upon prices that approximate arm’s length prices and are eliminated in consolidation. Corporate-level expenses are allocated to the operating segments. Financial information for the reportable segments follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ The Harris ​ ​ ​ ​ ​ ​ ​ Americas ​ International ​ Products ​ Corporate / ​ ​ ​ ​ Welding (1) Welding (2) Group (3) Eliminations (4) Consolidated For the Year Ended December 31, 2024 ​ ​ ​ ​ ​ Net sales $ 2,564,847 ​ $ 933,722 ​ $ 510,101 ​ $ — ​ $ 4,008,670 Inter-segment sales 135,758 ​ 35,861 ​ 12,321 ​ (183,940) ​ ​ — Total sales ​ 2,700,605 ​ ​ 969,583 ​ ​ 522,422 ​ ​ (183,940) ​ ​ 4,008,670 Cost of goods sold ​ 1,638,568 ​ ​ 700,428 ​ ​ 378,292 ​ ​ (181,530) ​ ​ 2,535,758 Gross profit ​ 1,062,037 ​ ​ 269,155 ​ ​ 144,130 ​ ​ (2,410) ​ ​ 1,472,912 Other segment expenses (5) ​ 559,670 ​ ​ 200,785 ​ ​ 59,757 ​ ​ 15,765 ​ ​ 835,977 EBIT ​ 502,367 ​ ​ 68,370 ​ ​ 84,373 ​ ​ (18,175) ​ ​ 636,935 Special items charge 27,821 ​ 37,747 ​ 3,955 ​ 7,147 ​ ​ 76,670 Adjusted EBIT $ 530,188 ​ $ 106,117 ​ $ 88,328 ​ $ (11,028) ​ $ 713,605 Special items charge ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (76,670) Interest income ​ ​ ​ ​ ​ ​ ​ ​ ​ 10,130 Interest expense ​ ​ ​ ​ ​ ​ ​ ​ ​ (52,916) Income before income taxes ​ ​ ​ ​ ​ ​ ​ ​ ​ $ 594,149 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total assets $ 2,416,411 ​ $ 1,050,327 ​ $ 346,645 ​ $ (293,241) ​ $ 3,520,142 Capital expenditures 94,528 ​ 17,814 ​ 4,144 ​ 117 ​ ​ 116,603 Depreciation and amortization 57,016 ​ 21,735 ​ 10,091 ​ (604) ​ ​ 88,238 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the Year Ended December 31, 2023 ​ ​ ​ ​ Net sales $ 2,655,546 ​ $ 1,040,006 ​ $ 496,084 ​ $ — ​ $ 4,191,636 Inter-segment sales 127,536 ​ 31,498 ​ 10,641 ​ (169,675) ​ ​ — Total ​ 2,783,082 ​ ​ 1,071,504 ​ ​ 506,725 ​ ​ (169,675) ​ ​ 4,191,636 Cost of goods sold ​ 1,739,850 ​ ​ 776,982 ​ ​ 377,748 ​ ​ (168,389) ​ ​ 2,726,191 Gross profit ​ 1,043,232 ​ ​ 294,522 ​ ​ 128,977 ​ ​ (1,286) ​ ​ 1,465,445 Other segment expenses (5) ​ 514,821 ​ ​ 148,304 ​ ​ 54,833 ​ ​ 16,250 ​ ​ 734,208 EBIT ​ 528,411 ​ ​ 146,218 ​ ​ 74,144 ​ ​ (17,536) ​ ​ 731,237 Special items charge (gain) 9,858 ​ (9,721) ​ — ​ — ​ ​ 137 Adjusted EBIT $ 538,269 ​ $ 136,497 ​ $ 74,144 ​ $ (17,536) ​ $ 731,374 Special items charge ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (137) Interest income ​ ​ ​ ​ ​ ​ 6,762 Interest expense ​ ​ ​ ​ ​ ​ (51,133) Income before income taxes ​ ​ ​ ​ ​ ​ $ 686,866 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total assets $ 2,365,737 ​ $ 1,046,369 ​ $ 340,463 ​ $ (375,272) ​ $ 3,377,297 Capital expenditures 61,752 ​ 20,568 ​ 8,550 ​ 117 ​ ​ 90,987 Depreciation and amortization ​ 55,821 ​ 22,023 ​ 9,611 ​ (785) ​ ​ 86,670 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the Year Ended December 31, 2022 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net sales $ 2,288,934 ​ $ 954,281 ​ $ 517,996 ​ $ — ​ $ 3,761,211 Inter-segment sales 122,019 ​ 31,503 ​ 11,040 ​ (164,562) ​ ​ — Total ​ 2,410,953 ​ ​ 985,784 ​ ​ 529,036 ​ ​ (164,562) ​ ​ 3,761,211 Cost of goods sold ​ 1,514,203 ​ ​ 719,051 ​ ​ 410,861 ​ ​ (163,664) ​ ​ 2,480,451 Gross profit ​ 896,750 ​ ​ 266,733 ​ ​ 118,175 ​ ​ (898) ​ ​ 1,280,760 Other segment expenses (5) ​ 430,871 ​ ​ 158,257 ​ ​ 54,167 ​ ​ 15,138 ​ ​ 658,433 EBIT ​ 465,879 ​ ​ 108,476 ​ ​ 64,008 ​ ​ (16,036) ​ ​ 622,327 Special items (gain) charge (3,060) ​ 11,681 ​ — ​ 6,003 ​ ​ 14,624 Adjusted EBIT $ 462,819 ​ $ 120,157 ​ $ 64,008 ​ $ (10,033) ​ $ 636,951 Special items charge ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (14,624) Interest income ​ ​ ​ ​ ​ ​ 1,607 Interest expense ​ ​ ​ ​ ​ ​ (31,107) Income before income taxes ​ ​ ​ ​ ​ ​ $ 592,827 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total assets $ 2,122,729 ​ $ 994,905 ​ $ 361,989 ​ $ (299,077) ​ $ 3,180,546 Capital expenditures 43,003 ​ 17,955 ​ 10,925 ​ — ​ ​ 71,883 Depreciation and amortization 47,291 ​ 20,949 ​ 9,819 ​ — ​ ​ 78,059 ​ (1) 2024 special items reflect Rationalization and asset impairment net charges of $18,840 , an amortization of step up in value of acquired inventories of $4,776 and a pension settlement net charge of $4,205 . 2023 special items reflect amortization of step up in value of acquired inventories of $9,390 . 2022 special items reflect of $3,735 amortization of step up in value of acquired inventories of $1,106 . (2) 2024 special items reflect Rationalization and asset impairment net charges of $32,960 including the impact of the Company’s disposition of its Russian entity, a loss on asset disposal of $4,950 , an amortization of step up in value of acquired inventories of $250 and a pension settlement gain of $413 . 2023 special items reflect Rationalization and asset impairment net gains of $11,782, amortization of step up in value of acquired inventories of $2,862 , gain on asset disposal of $1,646 , and pension settlement charges of $845 2022 special items reflect Rationalization and asset impairment charges of $11,681. (3) 2024 special items reflect Rationalization and asset impairment net charges of $3,955 . (4) 2024 special items reflect transaction costs of $7,042 related to acquisitions as discussed in Note 4 to the consolidated financial statements. 2022 special items reflect transaction costs of $6,003 related acquisitions as discussed in Note 4 to the consolidated financial statements. (5) Other segment expenses primarily include: a. Selling, general and administrative expenses – including bonus and research and development expenses. b. Rationalization and asset impairment net charges – refer to Note 7 for further discussion. Export sales (excluding inter-company sales) from the United States were $244,334 in 2024, $238,704 in 2023 and $173,033 in 2022. No individual customer comprised more than 10% of the Company’s total revenues in 2024, 2023 and 2022. The geographic split of the Company’s Net sales, based on the location of the customer, and property, plant and equipment were as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended December 31, ​ 2024 2023 2022 Net sales: ​ ​ ​ United States ​ $ 2,355,262 ​ $ 2,398,560 ​ $ 2,128,457 Foreign countries ​ 1,653,408 ​ 1,793,076 ​ 1,632,754 Total ​ $ 4,008,670 ​ $ 4,191,636 ​ $ 3,761,211 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, ​ 2024 2023 2022 Property, plant and equipment, net: ​ ​ ​ United States ​ $ 344,533 ​ $ 293,172 ​ $ 267,654 Foreign countries ​ 274,648 ​ 282,144 ​ 277,217 Total ​ $ 619,181 ​ $ 575,316 ​ $ 544,871 ​

RATIONALIZATION AND ASSET IMPAI

RATIONALIZATION AND ASSET IMPAIRMENTS	12 Months Ended
	Dec. 31, 2024
RATIONALIZATION AND ASSET IMPAIRMENTS
RATIONALIZATION AND ASSET IMPAIRMENTS	NOTE 7 – RATIONALIZATION AND ASSET IMPAIRMENTS ​ During 2024, the Company initiated rationalization plans within International Welding, Americas Welding and The Harris Products Group. During 2023, the Company also initiated rationalization plans within International Welding. The plans in both years impacted headcount and included the consolidation of manufacturing facilities to better align with the cost structure, economic conditions and operating needs. As a result of these plans, in 2024 the Company recorded Rationalization and asset impairment net charges of The Company also incurred in Americas Welding and The Harris Products Group, respectively, in 2024. In 2023, the Company recorded a Rationalization and asset impairment net gain of At December 31, 2024 and 2023, liabilities of $14,146 and $15,086 , respectively, were recognized in Other current liabilities in the Company's Consolidated Balance Sheet. The Company does not anticipate significant additional charges related to the completion of these plans. The Company believes the rationalization actions will positively impact future results of operations and will not have a material effect on liquidity and sources and uses of capital. The Company continues to evaluate its cost structure and additional rationalization actions may result in charges in future periods. ​ The following table summarizes the activity related to the rationalization liabilities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ International ​ The Harris ​ ​ ​ Americas Welding Welding ​ Products Group Consolidated Balance at December 31, 2022 ​ $ — ​ $ 2,207 ​ $ — ​ $ 2,207 Payments and other adjustments ​ (468) ​ (6,747) ​ — ​ (7,215) Charged to expense ​ 468 ​ 19,626 ​ — ​ 20,094 Balance at December 31, 2023 ​ $ — ​ $ 15,086 ​ $ — ​ $ 15,086 Payments and other adjustments ​ (11,957) ​ (21,893) ​ (2,063) ​ (35,913) Charged to expense ​ 17,585 ​ 14,369 ​ 3,019 ​ 34,973 Balance at December 31, 2024 ​ $ 5,628 ​ $ 7,562 ​ $ 956 ​ $ 14,146 ​

ACCUMULATED OTHER COMPREHENSIVE

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) ("AOCI")	12 Months Ended
	Dec. 31, 2024
ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) ("AOCI")
ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) ("AOCI")	NOTE 8 – ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) ("AOCI") The following tables set forth the total changes in AOCI ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Unrealized gain ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (loss) on derivatives ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ designated and ​ Defined benefit ​ Currency ​ ​ ​ ​ ​ qualifying as cash ​ pension plan ​ translation ​ ​ ​ ​ ​ flow hedges ​ activity ​ adjustment ​ Total Balance at December 31, 2022 ​ $ 13,909 ​ $ (1,781) ​ $ (287,526) ​ $ (275,398) Other comprehensive income (loss) before reclassification ​ 7,049 ​ ​ (5,135) ​ ​ 43,139 ​ ​ 45,053 Amounts reclassified from AOCI ​ (4,422) ​ ​ 4,920 ​ ​ — ​ ​ 498 Net current-period other comprehensive income (loss) ​ 2,627 ​ (215) ​ 43,139 ​ 45,551 Balance at December 31, 2023 ​ $ 16,536 ​ $ (1,996) ​ $ (244,387) ​ $ (229,847) Other comprehensive income (loss) before reclassification ​ 1,831 ​ ​ (1,591) ​ ​ (71,955) ​ ​ (71,715) Amounts reclassified from AOCI ​ (1,112) ​ ​ 2,539 ​ ​ — ​ ​ 1,427 Net current-period other comprehensive income (loss) ​ 719 ​ 948 ​ (71,955) ​ (70,288) Balance at December 31, 2024 ​ $ 17,255 ​ $ (1,048) ​ $ (316,342) ​ $ (300,135) ​

DEBT

DEBT	12 Months Ended
	Dec. 31, 2024
DEBT
DEBT	NOTE 9 – DEBT At December 31, 2024 and 2023, debt consisted of the following: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, ​ ​ 2024 2023 Long-term debt Interest Rate ​ ​ Senior Unsecured Notes ​ ​ ​ ​ ​ ​ ​ ​ ​ 2015 Notes - Series A due August 20, 2025 ​ 3.15 % ​ $ 100,000 ​ $ 100,000 2015 Notes - Series B due August 20, 2030 ​ 3.35 % ​ ​ 100,000 ​ ​ 100,000 2015 Notes - Series C due April 1, 2035 ​ 3.61 % ​ ​ 50,000 ​ ​ 50,000 2015 Notes - Series D due April 1, 2045 ​ 4.02 % ​ ​ 100,000 ​ ​ 100,000 2016 Notes - Series A due October 20, 2028 ​ 2.75 % ​ ​ 100,000 ​ ​ 100,000 2016 Notes - Series B due October 20, 2033 ​ 3.03 % ​ ​ 100,000 ​ ​ 100,000 2016 Notes - Series C due October 20, 2037 ​ 3.27 % ​ ​ 100,000 ​ ​ 100,000 2016 Notes - Series D due October 20, 2041 ​ 3.52 % ​ ​ 50,000 ​ ​ 50,000 2024 Notes - Series A due August 22, 2029 ​ 5.55 % ​ ​ 75,000 ​ ​ — 2024 Notes - Series B due August 22, 2031 ​ 5.62 % ​ ​ 75,000 ​ ​ — 2024 Notes - Series C due June 20, 2034 ​ 5.74 % ​ ​ 400,000 ​ ​ — Term Loan due through 2025 ​ Variable (1) ​ ​ ​ — ​ ​ 400,000 Other borrowings due through 2030 ​ Variable (2) ​ ​ 10 ​ 9 ​ ​ ​ ​ ​ 1,250,010 ​ 1,100,009 Plus interest rate swap adjustment ​ ​ ​ ​ ​ 3,355 ​ ​ 4,036 Less current portion ​ ​ ​ ​ 100,004 ​ 4 Less debt issuance costs ​ ​ ​ ​ ​ 2,810 ​ 1,270 Long-term debt, less current portion ​ ​ ​ ​ 1,150,551 ​ 1,102,771 Short-term debt ​ ​ ​ ​ ​ ​ ​ ​ Amounts due banks ​ Variable (3) ​ ​ 10,520 ​ 2,435 Current portion long-term debt ​ ​ ​ ​ 100,004 ​ 4 Total short-term debt ​ ​ ​ ​ 110,524 ​ 2,439 Total debt ​ ​ ​ ​ $ 1,261,075 ​ $ 1,105,210 (1) Interest is calculated at the secured overnight finance rate (“SOFR”) plus a 0.85% margin. (2) Interest rate was 7.97% for both years ended December 31, 2024 and 2023. (3) Weighted average interest of Other borrowings related to liquidity needs in a hyperinflationary country was 47.8% in 2024 and 47.7% in 2023. ​ At December 31, 2024 and 2023, the fair value of long-term debt, including the current portion, was approximately $1,184,313 and $1,013,795 , respectively. The approximate fair value of the Company’s long-term debt, including current maturities, was based on a valuation model using Level 2 observable inputs using available market information and methodologies requiring judgment. The carrying value of this debt at such dates was Senior Unsecured Notes On June 20, 2024, the Company entered into a Note Purchase Agreement (the “NPA”) pursuant to which it agreed to issue new senior unsecured notes (“2024 Notes”) in an aggregate principal amount of $550,000 , at par. Pursuant to the NPA, the Company issued one series of the 2024 Notes in the aggregate principal amount of 2024 On April 1, 2015 and October 20, 2016, the Company entered into separate Note Purchase Agreements pursuant to which it issued senior unsecured notes (the "Notes") through a private placement. The 2015 and 2016 The Company’s total weighted average effective interest rate and remaining weighted average tenure of the senior unsecured notes is 4.1%, including the impact from terminated swap agreements as discussed in Note 14, and 8.9 years, respectively. Interest on the senior unsecured notes is paid semi-annually. The senior unsecured notes contain certain affirmative and negative covenants. As of December 31, 2024, the Company was in compliance with all of its debt covenants relating to the senior unsecured notes. Term Loan On November 29, 2022, the Company entered into a term loan in the aggregate principal amount of $400,000 (the “Term Loan”), which was borrowed in full. On June 20, 2024, the Company used the net proceeds from the issuance of the initial series of 2024 Notes to repay the Term Loan in full. In June 2024, the Company terminated the interest rate swaps that were associated with the Term Loan and realized a gain of $2,428, which is recorded in Other income. Revolving Credit Agreements On June 20, 2024, the Company terminated its existing $500,000 revolving credit facility and entered into a $1 billion revolving credit facility, which may be increased, subject to certain conditions including the consent of its lenders, by an additional amount up to $300,000 . The revolving credit facility matures on June 20, 2029. The revolving credit facility will initially bear interest on outstanding borrowings at a per annum rate equal to SOFR plus . The financial covenants consist of a maximum net leverage ratio of The Company has other lines of credit and debt agreements totaling $45,608. As of December 31, 2024 the Company was in compliance with all of its covenants and had outstanding debt under short-term lines of credit of $10,520. Other Maturities of long-term debt, including payments for amounts due banks, for the five years succeeding December 31, 2024 are $110,524 in 2025, $5 in 2026, $0 in 2027, $100,000 in 2028, $75,000 in 2029 and $975,000 thereafter. Total interest paid was $51,264 in 2024, $49,366 in 2023 and $30,873 in 2022. The difference between interest paid and interest expense is due to the accrual of interest associated with the Senior Unsecured Notes and interest rate derivative contracts discussed in Note 14.

STOCK PLANS

STOCK PLANS	12 Months Ended
	Dec. 31, 2024
STOCK PLANS
STOCK PLANS	NOTE 10 – STOCK PLANS On April 19, 2023, the shareholders of the Company approved the 2023 Equity and Incentive Compensation Plan ("2023 Employee Plan"), which replaced the 2015 Equity and Incentive Compensation Plan (“2015 Employee Plan”). The 2023 Employee Plan provides for the granting of options, appreciation rights, restricted shares, restricted stock units and performance-based awards up to an additional 2,025,000 of the Company’s common shares. In addition, on April 19, 2023, the shareholders of the Company approved the 2023 Stock Plan for Non-Employee Directors ("2023 Director Plan"), which replaced the 2015 Stock Plan for Non-Employee Directors (“2015 Director Plan”). The 2023 Director Plan provides for the granting of options, restricted shares and restricted stock units up to an additional 200,000 of the Company’s common shares. At December 31, 2024, there were 1,997,299 common shares available for future grant under all plans. ​ Stock Options The following table summarizes stock option activity for the year ended December 31, 2024 under all Plans: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted ​ ​ ​ ​ Average ​ ​ Number of ​ Exercise ​ Options Price Balance at beginning of year 919,619 ​ $ 108.85 Options granted 86,874 ​ 246.98 Options exercised (309,947) ​ 88.41 Balance at end of year 696,546 ​ 135.17 Exercisable at end of year 585,979 ​ 122.17 ​ Options granted under the 2023 Employee Plan and its predecessor plans may be outstanding for a maximum of 10 years from the date of grant. The majority of options granted vest ratably over a period of 3 years from the grant date. The exercise prices of all options were equal to the quoted market price of the Company’s common shares at the date of grant. The Company issued shares of common stock from treasury upon all exercises of stock options in 2024. In 2024, all options issued were under the 2023 Employee Plan. The Company uses the Black-Scholes option pricing model for estimating fair values of options. In estimating the fair value of options granted, the expected option life is based on the Company’s historical experience. The expected volatility is based on historical volatility. The weighted average assumptions for each of the three years ended December 31 were as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2024 2023 2022 Expected volatility ​ 26.90 % ​ 27.63 % ​ 27.14 % Dividend yield ​ 1.40 % ​ 1.59 % ​ 1.84 % Risk-free interest rate ​ 4.26 % ​ 4.04 % ​ 1.94 % Expected option life (years) ​ 4.8 ​ 4.8 ​ 4.7 ​ Weighted average fair value per option granted during the year ​ $ 66.20 ​ $ 46.94 ​ $ 27.42 ​ ​ The following table summarizes non-vested stock options for the year ended December 31, 2024: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted Average ​ ​ Number of ​ Fair Value at ​ Options Grant Date Balance at beginning of year 248,455 ​ $ 28.36 Granted 86,874 ​ 66.20 Vested (224,762) ​ 37.28 Balance at end of year 110,567 ​ 53.42 ​ The aggregate intrinsic value of options outstanding and exercisable which would have been received by the optionees had all awards been exercised at December 31, 2024 was $41,719 and $40,181, respectively. The total intrinsic value of awards exercised during 2024, 2023 and 2022 was $47,929, $35,414 and $7,082, respectively. The total fair value of options that vested during 2024, 2023 and 2022 was $8,367, $3,684 and $3,086, respectively. The following table summarizes information about awards outstanding as of December 31, 2024: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Outstanding ​ Exercisable ​ ​ ​ ​ Weighted ​ Weighted ​ ​ ​ Weighted ​ Weighted ​ ​ Number of ​ Average ​ Average ​ Number of ​ Average ​ Average ​ ​ Stock ​ Exercise ​ Remaining ​ Stock ​ Exercise ​ Remaining Exercise Price Range Options Price Life (years) Options Price Life (years) Under $49.99 — ​ $ — — — ​ $ — — $50.00 - $59.99 14,665 ​ 58.17 1.10 14,665 ​ 58.17 1.10 Over $60.00 681,881 ​ 136.82 6.49 571,314 ​ 123.81 6.11 ​ 696,546 ​ ​ ​ 6.38 585,979 ​ ​ ​ 5.98 ​ Restricted Stock Units ("RSUs") and Performance Share Units ("PSUs") The following table summarizes RSU and PSU activity for the year ended December 31, 2024 under all Plans: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted ​ ​ ​ ​ Average ​ ​ Number of ​ Grant Date ​ Units Fair Value Balance at beginning of year 339,441 ​ $ 140.50 Units granted 127,810 ​ 205.67 Units vested (164,062) ​ 124.70 Units forfeited (9,771) ​ 171.97 Balance at end of year 293,418 ​ 176.70 ​ RSUs are valued at the quoted market price on the grant date. The majority of RSUs vest over a period of 3 years. The Company issues shares of common stock from treasury upon the vesting of RSUs and any earned dividend equivalents. Conversion of 15,253 RSUs and PSUs to common shares in 2024 were deferred as part of the 2005 Deferred Compensation Plan for Executives (the "2005 Plan"). As of December 31, 2024, 93,273 RSUs and PSUs, including related dividend equivalents, have been deferred under the 2005 Plan. These units are reflected within dilutive shares in the calculation of earnings per share. In 2024, 74,124 RSUs were issued under the 2023 Employee Plan and the 2023 Director Plan. The remaining weighted average vesting period of all non-vested RSUs is 1.9 years as of December 31, 2024. PSUs are valued at the quoted market price on the grant date. PSUs vest over a period of 3 years and are based on the Company’s performance relative to pre-established performance goals. The Company issues common stock from treasury upon the vesting of PSUs and any earned dividend equivalents. In 2024, the Company issued 53,686 PSUs and has 74,449 PSUs outstanding as of December 31, 2024 under the 2015 and 2023 Employee Plans at a weighted average fair value of $179.73 per share. The remaining weighted average vesting period of all non-vested PSUs is 1.7 years as of December 31, 2024. Stock-Based Compensation Expense Expense is recognized for all awards of stock-based compensation by allocating the aggregate grant date fair value over the vesting period. No expense is recognized for any stock options, restricted or deferred shares, RSUs or PSUs ultimately forfeited because recipients fail to meet vesting requirements. Total stock-based compensation expense recognized in the Consolidated Statements of Income for 2024, 2023 and 2022 was $24,000, $26,223 and $25,276, respectively. The related tax benefit for 2024, 2023 and 2022 was $6,009, $6,711 and $6,363, respectively. As of December 31, 2024, total unrecognized stock-based compensation expense related to non-vested stock options, RSUs and PSUs was $18,839, which is expected to be recognized over a weighted average period of approximately 1.8 years. Lincoln Stock Purchase Plan The 1995 Lincoln Stock Purchase Plan provides employees the ability to purchase open market shares on a commission-free basis up to a limit of ten thousand dollars annually. Under this plan, 800,000 shares have been authorized to be purchased. There were no shares purchased in 2024, 2023 or 2022.

RETIREMENT ANNUITY AND GUARANTE

RETIREMENT ANNUITY AND GUARANTEED CONTINUOUS EMPLOYMENT PLANS	12 Months Ended
	Dec. 31, 2024
RETIREMENT ANNUITY AND GUARANTEED CONTINUOUS EMPLOYMENT PLANS
RETIREMENT ANNUITY AND GUARANTEED CONTINUOUS EMPLOYMENT PLANS	​ NOTE 11 – RETIREMENT ANNUITY AND GUARANTEED CONTINUOUS EMPLOYMENT PLANS The Company maintains a number of defined benefit and defined contribution plans to provide retirement benefits for employees. These plans are maintained and contributions are made in accordance with the Employee Retirement Income Security Act of 1974 ("ERISA"), local statutory law or as determined by the Board. The plans generally provide benefits based upon years of service and compensation. Pension plans are funded except for a domestic non-qualified pension plan for certain key employees and certain foreign plans. The Company uses a December 31 measurement date for its plans. The Company does not have, and does not provide for, any postretirement or postemployment benefits other than pensions and certain non-U.S. statutory termination benefits. Defined Benefit Plans Contributions are made in amounts sufficient to fund current service costs on a current basis and to fund past service costs, if any, over various amortization periods. Obligations and Funded Status ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, ​ ​ 2024 ​ 2023 ​ ​ U.S. pension ​ Non-U.S. ​ U.S. pension ​ Non-U.S. ​ plans pension plans plans pension plans Change in benefit obligations ​ ​ ​ ​ Benefit obligations at beginning of year ​ $ 8,370 ​ $ 126,030 ​ $ 9,374 ​ $ 118,489 Service cost ​ 156 ​ ​ 1,014 ​ 166 ​ 955 Interest cost ​ 477 ​ ​ 3,785 ​ 466 ​ 4,867 Plan participants' contributions ​ — ​ ​ 42 ​ — ​ 48 Acquisitions & other adjustments ​ (897) ​ ​ (792) ​ (821) ​ 84 Actuarial (gain) loss ​ (244) ​ ​ 283 ​ 990 ​ 5,633 Benefits paid ​ — ​ ​ (6,634) ​ — ​ (7,265) Settlements/curtailments (1) ​ — ​ ​ (32,564) ​ (1,805) ​ (1,700) Currency translation ​ — ​ ​ (5,792) ​ — ​ 4,919 Benefit obligations at end of year ​ 7,862 ​ 85,372 ​ 8,370 ​ 126,030 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Change in plan assets ​ ​ ​ ​ ​ ​ ​ ​ Fair value of plan assets at beginning of year ​ — ​ 91,222 ​ — ​ 86,543 Actual return on plan assets ​ — ​ ​ (1,019) ​ — ​ 4,087 Employer contributions ​ — ​ ​ 2,545 ​ — ​ 2,080 Plan participants' contributions ​ — ​ ​ 42 ​ — ​ 48 Benefits paid ​ — ​ ​ (4,212) ​ — ​ (5,120) Settlements (1) ​ — ​ ​ (30,741) ​ — ​ (599) Currency translation ​ — ​ ​ (3,295) ​ — ​ 4,183 Fair value of plan assets at end of year ​ — ​ 54,542 ​ — ​ 91,222 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Funded status at end of year ​ (7,862) ​ (30,830) ​ (8,370) ​ (34,808) Unrecognized actuarial net loss ​ 1,988 ​ 2,370 ​ 2,387 ​ 3,070 Unrecognized prior service cost ​ — ​ (36) ​ — ​ (56) Unrecognized transition assets, net ​ — ​ 24 ​ — ​ 24 Net amount recognized ​ $ (5,874) ​ $ (28,472) ​ $ (5,983) ​ $ (31,770) ​ (1) Settlements in 2024 resulting from lump sum pension payments and the purchase of a group annuity contract related to the termination of a pension plan. ​ The after-tax amounts of unrecognized actuarial net loss, prior service costs and transition assets included in Accumulated other comprehensive loss at December 31, 2024 were $1,037, $(28) and $17, respectively. The actuarial loss represents changes in the estimated obligation not yet recognized in the Consolidated Income Statement. The Company terminated the Lincoln Electric Company Retirement Annuity Program (“RAP”) plan effective as of December 31, 2020. The surplus assets were transferred to a suspense account in January 2022 and are being used to fund employer matching contributions in the Company’s Savings Plan. The surplus assets as of December 31, 2024 and 2023 were Amounts Recognized in Consolidated Balance Sheets ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, ​ ​ 2024 ​ 2023 ​ ​ U.S. pension ​ Non-U.S. ​ U.S. pension ​ Non-U.S. ​ plans Pension plans plans pension plans Prepaid pensions (1) ​ $ — ​ $ 845 ​ $ — ​ $ 2,891 Accrued pension liability, current (2) ​ (1,003) ​ ​ (2,556) ​ (732) ​ ​ (95) Accrued pension liability, long-term (3) ​ (6,859) ​ ​ (29,119) ​ (7,638) ​ ​ (37,605) Accumulated other comprehensive loss, excluding tax effects ​ 1,988 ​ ​ 2,358 ​ 2,387 ​ ​ 3,039 Net amount recognized in the balance sheets ​ $ (5,874) ​ $ (28,472) ​ $ (5,983) ​ $ (31,770) ​ (1) Included in Other assets. (2) Included in Other current liabilities. (3) Included in Other liabilities. Components of Pension Cost for Defined Benefit Plans ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended December 31, ​ ​ ​ 2024 ​ 2023 ​ 2022 ​ ​ ​ U.S. pension ​ Non-U.S. ​ U.S. pension ​ Non-U.S. ​ U.S. pension ​ Non-U.S. ​ plans pension plans plans pension plans plans pension plans Service cost ​ ​ $ 156 ​ $ 1,014 ​ $ 166 ​ $ 955 ​ $ 199 ​ $ 1,077 Interest cost ​ ​ 477 ​ 3,785 ​ 466 ​ 4,867 ​ 262 ​ 2,644 Expected return on plan assets ​ ​ — ​ (2,574) ​ — ​ (3,839) ​ — ​ (3,525) Other adjustments ​ ​ ​ — ​ ​ — ​ ​ — ​ ​ 117 ​ ​ — ​ ​ — Amortization of prior service cost ​ ​ — ​ (7) ​ — ​ (8) ​ — ​ — Amortization of net loss (gain) ​ ​ 155 ​ (62) ​ 80 ​ (374) ​ 132 ​ 299 Settlement and curtailment charges (gains) (1) ​ ​ — ​ 3,818 ​ 256 ​ 949 ​ (3,735) ​ 367 Defined benefit plans ​ ​ $ 788 ​ $ 5,974 ​ $ 968 ​ $ 2,667 ​ $ (3,142) ​ $ 862 ​ (1) Settlements in 2024 resulting from lump sum pension payments and the purchase of a group annuity contract related to the termination of a pension plan. ​ The components of Pension cost for defined benefit plans, other than service cost, are included in Other income in the Company’s Consolidated Statements of Income. Pension Plans with Accumulated Benefit Obligations in Excess of Plan Assets ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, ​ ​ 2024 ​ 2023 ​ ​ U.S. pension ​ Non-U.S. ​ U.S. pension ​ Non-U.S. ​ plans pension plans plans pension plans Projected benefit obligation ​ $ 7,819 ​ $ 50,363 ​ $ 8,326 ​ $ 88,290 Accumulated benefit obligation ​ 7,424 ​ 47,867 ​ 8,002 ​ 86,317 Fair value of plan assets ​ — ​ 18,980 ​ — ​ 50,758 ​ The total accumulated benefit obligation for all plans was $89,759 as of December 31, 2024 and $131,550 as of December 31, 2023. Benefit Payments for Plans Benefits expected to be paid for the plans are as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ U.S. pension ​ Non-U.S. ​ Plans pension plans Estimated Payments ​ ​ ​ ​ ​ ​ 2025 ​ $ 1,027 ​ $ 7,277 2026 ​ 1,015 ​ ​ 6,263 2027 ​ 998 ​ ​ 5,305 2028 ​ 906 ​ ​ 5,923 2029 ​ 887 ​ ​ 5,161 2030 through 2034 ​ 4,174 ​ ​ 30,196 ​ Assumptions Weighted average assumptions used to measure the benefit obligation for the Company’s significant defined benefit plans as of December 31, 2024 and 2023 were as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, ​ ​ 2024 ​ 2023 ​ ​ U.S. pension ​ Non-U.S. ​ U.S. pension ​ Non-U.S. ​ plans pension plans plans pension plans Discount Rate 4.8 % 4.0 % 6.0 % 3.9 % Rate of increase in compensation 3.0 % 5.6 % 3.0 % 4.8 % ​ Weighted average assumptions used to measure the net periodic benefit cost for the Company’s significant defined benefit plans for each of the three years ended December 31 were as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, ​ ​ 2024 ​ 2023 ​ 2022 ​ ​ U.S. pension ​ Non-U.S. ​ U.S. pension ​ Non-U.S. ​ U.S. pension ​ Non-U.S. ​ plans pension plans plans pension plans plans pension plans Discount rate 6.0 % 3.9 % 5.8 % 4.2 % 2.5 % 1.8 % Rate of increase in compensation 3.0 % 4.8 % 3.0 % 3.7 % 3.0 % 3.1 % Expected return on plan assets — ​ 3.8 % — ​ 4.4 % — % 3.4 % ​ To develop the discount rate assumptions, the Company refers to the yield derived from matching projected pension payments with maturities of bonds rated AA or an equivalent quality. The expected long-term rate of return assumption is based on the weighted average expected return of the various asset classes in the plans’ portfolio and the targeted allocation of plan assets. The asset class return is developed using historical asset return performance as well as current market conditions such as inflation, interest rates and equity market performance. The rate of compensation increase is determined by the Company based upon annual reviews. Pension Plans’ Assets The primary objective of the pension plans’ investment policy is to ensure sufficient assets are available to provide benefit obligations when such obligations mature. Investment management practices must comply with ERISA or any other applicable regulations and rulings. The overall investment strategy for the defined benefit pension plans’ assets is to achieve a rate of return over a normal business cycle relative to an acceptable level of risk that is consistent with the long-term objectives of the portfolio. Excluding the RAP plan assets, the target allocation for plan assets is 10% to 15% equity securities and 85% to 90% debt and other securities. The following table sets forth, by level within the fair value hierarchy, the pension plans’ assets as of December 31, 2024: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Pension Plans' Assets at Fair Value as of December 31, 2024 ​ ​ Quoted Prices in ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Active Markets ​ ​ ​ ​ Significant ​ ​ ​ ​ ​ for Identical ​ Significant Other ​ Unobservable ​ ​ ​ ​ ​ Assets ​ Observable Inputs ​ Inputs ​ ​ ​ ​ (Level 1) (Level 2) (Level 3) Total Cash and cash equivalents ​ $ 1,974 ​ $ — ​ $ — ​ $ 1,974 Fixed income securities (1) ​ ​ ​ ​ ​ ​ ​ ​ Corporate debt and other obligations ​ — ​ 6,063 ​ — ​ 6,063 Investments measured at NAV (2) ​ ​ ​ ​ ​ ​ ​ ​ Common trusts and 103-12 investments (3) ​ — ​ ​ — ​ ​ — ​ 46,505 Total investments at fair value ​ $ 1,974 ​ $ 6,063 ​ $ — ​ $ 54,542 ​ The following table sets forth, by level within the fair value hierarchy, the pension plans’ assets as of December 31, 2023: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Pension Plans' Assets at Fair Value as of December 31, 2023 ​ ​ Quoted Prices in ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Active Markets ​ ​ ​ ​ Significant ​ ​ ​ ​ ​ for Identical ​ Significant Other ​ Unobservable ​ ​ ​ ​ ​ Assets ​ Observable Inputs ​ Inputs ​ ​ ​ ​ (Level 1) (Level 2) (Level 3) Total Cash and cash equivalents ​ $ 22,347 ​ $ — ​ $ — ​ $ 22,347 Fixed income securities (1) ​ ​ ​ ​ ​ ​ ​ ​ Corporate debt and other obligations ​ — ​ 5,894 ​ — ​ 5,894 Investments measured at NAV (2) ​ ​ ​ ​ ​ ​ ​ ​ Common trusts and 103-12 investments (3) ​ — ​ ​ — ​ ​ — ​ 62,981 Total investments at fair value ​ $ 22,347 ​ $ 5,894 ​ $ — ​ $ 91,222 ​ (1) Fixed income securities are primarily comprised of governmental and corporate bonds directly held by the plans. Governmental and corporate bonds are valued using both market observable inputs for similar assets that are traded on an active market and the closing price on the active market on which the individual securities are traded. (2) Certain assets that are measured at fair value using the net asset value ("NAV") practical expedient have not been classified in the fair value hierarchy. (3) Common trusts and 103-12 investments (collectively "Trusts") are comprised of a number of investment funds that invest in a diverse portfolio of assets including equity securities, corporate and governmental bonds, equity and credit indexes and money markets. Trusts are valued at the NAV as determined by their custodian. NAV represents the accumulation of the unadjusted quoted close prices on the reporting date for the underlying investments divided by the total shares outstanding at the reporting dates. Supplemental Executive Retirement Plan The Company maintained a domestic unfunded Supplemental Executive Retirement Plan ("SERP") under which non-qualified supplemental pension benefits are paid to certain employees in addition to amounts received under the Company’s terminated qualified retirement plan which was subject to IRS limitations on covered compensation. The annual cost of this program has been included in the determination of total net pension costs shown above and was $340, $650 and $253 in 2024, 2023 and 2022, respectively. The projected benefit obligation associated with this plan is also included in the pension disclosure shown above and was $5,034, $5,461 and $7,339 at December 31, 2024, 2023 and 2022, respectively. Defined Contribution Plans Substantially all U.S. employees are covered under defined contribution plans. In October 2016, the Company announced a plan redesign of The Lincoln Electric Company Employee Savings Plan (“Savings Plan”) that was effective January 1, 2017. The Savings Plan provides that eligible employees receive up to 6% of employees’ annual compensation through Company matching contributions of 100% of the first 3% of employee compensation contributed to the plan, and automatic Company contributions equal to 3% of annual compensation. In addition, certain employees affected by the RAP freeze in 2016 are also eligible to receive employer contributions equal to 6% of annual compensation for a minimum period of five years or to the end of the year in which they complete thirty years of service. Effective January 1, 2017, the Company created The Lincoln Electric Company Restoration Plan (“Restoration Plan”). The Restoration Plan is a domestic unfunded plan maintained for the purpose of providing certain employees the ability to fully participate in standard employee retirement offerings, which are limited by IRS regulations on covered compensation. The annual costs recognized for defined contribution plans were $29,029, $29,443 and $29,569 in 2024, 2023 and 2022, respectively. Other Benefits The Cleveland, Ohio, area operations have a Guaranteed Continuous Employment Plan covering substantially all local employees which, in general, provides that the Company will provide work for at least 75% of every standard work week (presently 40 hours). This plan does not guarantee employment when the Company’s ability to continue normal operations is seriously restricted by events beyond the control of the Company. The Company has reserved the right to terminate this plan effective at the end of a calendar year by giving notice of such termination not less than six months prior to the end of such year.

OTHER INCOME

OTHER INCOME	12 Months Ended
	Dec. 31, 2024
OTHER INCOME
OTHER INCOME	NOTE 12 — OTHER INCOME The components of Other income were as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended December 31, ​ ​ 2024 2023 2022 Equity earnings in affiliates ​ ​ ​ $ 235 $ 556 ​ $ (153) Other components of net periodic pension (cost) income (1) ​ ​ ​ (5,692) (2,573) ​ 3,556 Other income (2) ​ ​ ​ 5,930 15,405 ​ 6,588 Total Other income ​ ​ ​ $ 473 $ 13,388 ​ $ 9,991 ​ (1) Other components of net periodic pension (cost) income includes pension settlements and curtailments as discussed in Note 11. (2) In 2024, Other income primarily relates to non-recurring items such as the gain on termination of interest rate swaps, other non-operating gains and a loss on asset disposal. In 2023, Other income primarily related to non-recurring items such as royalty and other non-operating gains.

INCOME TAXES

INCOME TAXES	12 Months Ended
	Dec. 31, 2024
INCOME TAXES
INCOME TAXES	NOTE 13 – INCOME TAXES The components of income before income taxes were as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended December 31, ​ 2024 2023 2022 U.S. ​ $ 496,339 ​ $ 508,316 ​ $ 359,760 Non-U.S. ​ 97,810 ​ 178,550 ​ 233,067 Total ​ $ 594,149 ​ $ 686,866 ​ $ 592,827 ​ The components of income tax expense (benefit) were as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended December 31, ​ 2024 2023 2022 Current: ​ ​ ​ ​ Federal ​ $ 109,943 ​ $ 95,514 ​ $ 88,974 Non-U.S. ​ 37,997 ​ 45,830 ​ 55,664 State and local ​ 21,217 ​ 24,132 ​ 24,423 ​ ​ 169,157 ​ 165,476 ​ 169,061 Deferred: ​ ​ ​ ​ ​ ​ Federal ​ (31,178) ​ (13,068) ​ (38,462) Non-U.S. ​ (5,269) ​ (7,515) ​ (3,281) State and local ​ (4,669) ​ (3,275) ​ (6,715) ​ ​ (41,116) ​ (23,858) ​ (48,458) Total ​ $ 128,041 ​ $ 141,618 ​ $ 120,603 ​ The differences between total income tax expense and the amount computed by applying the statutory federal income tax rate to income before income taxes for the three years ended December 31, 2024 were as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended December 31, ​ 2024 2023 2022 Statutory rate applied to pre-tax income ​ $ 124,771 ​ $ 144,242 ​ $ 124,492 ​ State and local income taxes, net of federal tax benefit ​ 14,172 ​ 17,979 ​ 12,904 ​ Excess tax benefits resulting from exercises of stock-based compensation ​ (4,364) ​ (10,742) ​ (2,500) ​ Foreign derived intangible income deduction ​ (13,766) ​ (10,411) ​ (13,356) ​ Foreign rate variance ​ 9,312 ​ 6,854 ​ 5,020 ​ Research and development credit ​ (10,010) ​ (9,600) ​ (6,800) ​ Other ​ 7,926 ​ 3,296 ​ 843 ​ Total ​ $ 128,041 ​ $ 141,618 ​ $ 120,603 ​ Effective tax rate ​ 21.6 % 20.6 % 20.3 % ​ ​ The effective tax rate is higher in 2024 as compared to 2023 primarily due to the mix of earnings and discrete items. Total income tax payments, net of refunds, were $157,542 in 2024, $180,512 in 2023 and $151,818 in 2022. Deferred Taxes Significant components of deferred tax assets and liabilities at December 31, 2024 and 2023, were as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, ​ 2024 2023 Deferred tax assets: ​ ​ ​ Tax loss and credit carry-forwards ​ $ 43,417 ​ $ 45,319 Inventory ​ 1,555 ​ 2,941 Other accruals ​ 31,671 ​ 17,984 Research and development capitalization ​ ​ 86,697 ​ ​ 64,836 Employee benefits ​ 27,866 ​ 28,639 Pension obligations ​ 7,025 ​ 7,375 Other ​ 9,508 ​ 5,640 Deferred tax assets, gross ​ 207,739 ​ 172,734 Valuation allowance ​ (35,284) ​ (36,876) Deferred tax assets, net ​ 172,455 ​ 135,858 Deferred tax liabilities: ​ ​ ​ ​ Property, plant and equipment ​ 43,048 ​ 43,339 Intangible assets ​ 31,214 ​ 26,624 Inventory ​ 6,785 ​ 4,918 Pension and other benefit liabilities ​ 5,890 ​ 10,545 Other ​ 18,371 ​ 18,402 Deferred tax liabilities ​ 105,308 ​ 103,828 Total deferred taxes ​ $ 67,147 ​ $ 32,030 ​ At December 31, 2024, certain subsidiaries had net operating loss carry-forwards of approximately $35,769 that expire in various years from 2032 through 2040, plus $128,123 for which there is no expiration date. In assessing the realizability of deferred tax assets, the Company assesses whether it is more-likely-than-not that a portion or all of the deferred tax assets will not be realized. The Company considers the scheduled reversal of deferred tax liabilities, tax planning strategies and projected future taxable income in making this assessment. At December 31, 2024, a valuation allowance of $35,284 was recorded against certain deferred tax assets based on this assessment. The Company believes it is more-likely-than-not that the tax benefit of the remaining net deferred tax assets will be realized. The amount of net deferred tax assets considered realizable could be increased or reduced in the future if the Company’s assessment of future taxable income or tax planning strategies changes. The Company determined it will repatriate earnings for certain non-U.S. subsidiaries, which are subject to foreign withholding taxes. The Company has estimated the associated tax to be $76. The Company considers remaining earnings and outside basis in all other non-U.S. subsidiaries to be indefinitely reinvested and has not recorded any deferred taxes as such estimate is not practicable. Unrecognized Tax Benefits Liabilities for unrecognized tax benefits related to uncertain tax positions are classified as Other liabilities unless expected to be paid in one year. Additionally, to the extent a position would not result in a cash tax liability, those amounts are generally recorded to Deferred income taxes to offset tax attributes. The Company recognizes interest and penalties related to unrecognized tax benefits in Income taxes. Current income tax expense included expense of $145 and $101 for the years ended December 31, 2024 and 2023, respectively, for interest and penalties. For those same years, the Company’s accrual for interest and penalties related to unrecognized tax benefits totaled $2,495 and $2,364, respectively. The following table summarizes the activity related to unrecognized tax benefits: ​ ​ ​ ​ ​ ​ ​ ​ ​ 2024 ​ 2023 Balance at beginning of year $ 12,592 $ 17,423 Increase related to current year tax provisions ​ 1,701 ​ 1,983 Decrease related to prior years' tax positions ​ (870) ​ (1,642) Decrease related to settlements with taxing authorities ​ — ​ (4,036) Resolution of and other decreases in prior years' tax liabilities ​ (1,982) ​ (1,380) Other ​ (554) ​ 244 Balance at end of year ​ $ 10,887 ​ $ 12,592 ​ The total amount of unrecognized tax benefits that, if recognized, would affect the effective tax rate was $9,343 at December 31, 2024 and $10,036 at December 31, 2023. 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 2019. The Company is currently subject to various state audits and non-U.S. income tax audits. The Company is generally not able to precisely estimate the ultimate settlement amounts or timing until after the close of an audit. The Company evaluates its tax positions and establishes liabilities for unrecognized tax benefits related to uncertain tax positions that may be challenged by local authorities and may not be fully sustained. Unrecognized tax benefits are reviewed on an ongoing basis and are adjusted for changing facts and circumstances, including management’s judgment in the interpretation of applicable tax law, regulation or tax ruling, the 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 further reduction of $2,023 in prior years’ unrecognized tax benefits in 2025.

DERIVATIVES

DERIVATIVES	12 Months Ended
	Dec. 31, 2024
DERIVATIVES
DERIVATIVES	NOTE 14 – DERIVATIVES The Company uses derivative instruments to manage exposures to currency exchange rates, interest rates and commodity prices arising in the normal course of business. Both at inception and on an ongoing basis, the derivative instruments that qualify for hedge accounting are assessed as to their effectiveness, when applicable. Hedge ineffectiveness was immaterial for each of the three years in the period ended December 31, 2024. The Company is subject to the credit risk of the counterparties to derivative instruments. Counterparties include a number of major banks and financial institutions. None of the concentrations of risk with any individual counterparty was considered significant at December 31, 2024. The Company does not expect any counterparties to fail to meet their obligations. Cash flow hedges Certain foreign currency forward contracts are qualified and designated as cash flow hedges. The dollar equivalent gross notional amount of these short-term contracts was $96,444 and $84,148 at December 31, 2024 and 2023, respectively. The Company had interest rate forward starting swap agreements that were qualified and designated as cash flow hedges that were terminated during 2024. At December 31, 2023, the dollar equivalent gross notional amount of the contracts was The Company had commodity contracts that were qualified and designated as cash flow hedges that matured in 2024. The notional amount of these contracts was 200,000 pounds at December 31, 2023. The Company had interest rate swap agreements, which were qualified and designated as cash flow hedges. At December 31, 2023, the aggregate notional amount of the contracts was $150,000. During 2024, the Company terminated the interest rate swaps that were associated with the Term Loan and realized a gain of $2,428 , which is recorded in Other income. Net investment hedges The Company has foreign currency forward contracts that qualify and are designated as net investment hedges. The dollar equivalent gross notional amount of these contracts were $319,450 and $119,607 at December 31, 2024 and 2023, respectively. Derivatives not designated as hedging instruments The Company has certain foreign exchange forward contracts which are not designated as hedges. These derivatives are held as hedges of certain balance sheet exposures. The dollar equivalent gross notional amount of these contracts were $421,754 and $492,600 at December 31, 2024 and 2023, respectively. Fair values of derivative instruments in the Company’s Consolidated Balance Sheets follow: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2024 ​ December 31, 2023 ​ Other ​ Other ​ ​ ​ ​ ​ ​ ​ Other ​ Other ​ ​ ​ ​ ​ ​ ​ Current ​ Current ​ Other ​ Other ​ Current ​ Current ​ Other ​ Other Derivatives by hedge designation Assets Liabilities Assets Liabilities Assets Liabilities Assets Liabilities Designated as hedging instruments: ​ ​ ​ ​ ​ ​ ​ ​ Foreign exchange contracts $ 1,663 ​ $ 2,972 ​ $ — ​ $ — ​ $ 1,548 ​ $ 687 ​ $ — ​ $ — Interest rate swap agreements — ​ — ​ ​ — ​ ​ — ​ — ​ — ​ ​ 1,460 ​ ​ — Forward starting swap agreements ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ 20,377 ​ ​ — Net investment contracts ​ 10,276 ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ 3,351 ​ ​ — ​ ​ — Commodity contracts ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ 45 ​ ​ — ​ ​ — ​ ​ — Not designated as hedging instruments: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Foreign exchange contracts 1,560 ​ ​ 4,251 ​ ​ — ​ ​ — ​ 4,063 ​ ​ 623 ​ ​ — ​ ​ — Total derivatives $ 13,499 ​ $ 7,223 ​ $ — ​ $ — ​ $ 5,656 ​ $ 4,661 ​ $ 21,837 ​ $ — ​ The effects of undesignated derivative instruments on the Company’s Consolidated Statements of Income consisted of the following: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended December 31, Derivatives by hedge designation Classification of (loss) gain 2024 2023 Not designated as hedges: ​ ​ ​ ​ Foreign exchange contracts ​ Selling, general & administrative expenses ​ $ (11,198) ​ $ 15,990 ​ The effects of designated cash flow hedges on AOCI and the Company’s Consolidated Statements of Income consisted of the following: ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, Total (loss) gain recognized in AOCI, net of tax 2024 2023 Foreign exchange contracts ​ $ (812) ​ $ 721 Interest rate swap agreements ​ ​ — ​ ​ 1,085 Forward starting swap agreements ​ ​ 18,067 ​ ​ 14,696 Net investment contracts ​ ​ 20,403 ​ ​ 7,136 Commodity contracts ​ — ​ 34 ​ The Company expects a loss of $812 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. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended December 31, ​ ​ Gain (loss) recognized in the ​ ​ ​ ​ ​ ​ Derivative type Consolidated Statements of Income: 2024 2023 Foreign exchange contracts Net Sales ​ $ (625) ​ $ 5,210 ​ Cost of goods sold ​ 494 ​ 590 Commodity contracts ​ Cost of goods sold ​ ​ 110 ​ 193 Forward starting swap agreements ​ Interest expense, net ​ ​ 1,394 ​ ​ — ​

FAIR VALUE

FAIR VALUE	12 Months Ended
	Dec. 31, 2024
FAIR VALUE
FAIR VALUE	NOTE 15 – FAIR VALUE The following table provides a summary of fair value assets and liabilities as of December 31, 2024 measured at fair value on a recurring basis: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Quoted Prices in ​ ​ ​ ​ ​ ​ ​ ​ ​ Active Markets for ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Identical Assets or ​ Significant Other ​ Significant ​ ​ Balance as of ​ Liabilities ​ Observable Inputs ​ Unobservable Description December 31, 2024 (Level 1) (Level 2) Inputs (Level 3) Assets: ​ ​ ​ ​ Foreign exchange contracts ​ $ 3,223 ​ $ — ​ $ 3,223 ​ $ — Net investment contracts ​ ​ 10,276 ​ ​ — ​ ​ 10,276 ​ ​ — Pension surplus ​ 27,059 ​ ​ 27,059 ​ ​ — ​ ​ — Total assets ​ $ 40,558 ​ $ 27,059 ​ $ 13,499 ​ $ — Liabilities: ​ ​ ​ ​ Foreign exchange contracts ​ $ 7,223 ​ $ — ​ $ 7,223 ​ $ — Deferred compensation ​ 55,425 ​ — ​ 55,425 ​ — Total liabilities ​ $ 62,648 ​ $ — ​ $ 62,648 ​ $ — ​ The following table provides a summary of fair value assets and liabilities as of December 31, 2023 measured at fair value on a recurring basis: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Quoted Prices in ​ ​ ​ ​ ​ ​ ​ ​ ​ Active Markets for ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Identical Assets or ​ Significant Other ​ Significant ​ ​ Balance as of ​ Liabilities ​ Observable Inputs ​ Unobservable Description December 31, 2023 (Level 1) (Level 2) Inputs (Level 3) Assets: ​ ​ ​ ​ Foreign exchange contracts ​ $ 5,611 ​ $ — ​ $ 5,611 ​ $ — Interest rate swap agreements ​ 1,460 ​ — ​ 1,460 ​ — Commodity contracts ​ ​ 45 ​ ​ — ​ ​ 45 ​ ​ — Forward starting swap agreements ​ ​ 20,377 ​ ​ — ​ ​ 20,377 ​ ​ — Pension surplus ​ ​ 41,849 ​ ​ 41,849 ​ ​ — ​ ​ — Total assets ​ $ 69,342 ​ $ 41,849 ​ $ 27,493 ​ $ — Liabilities: ​ ​ ​ ​ Foreign exchange contracts ​ $ 1,310 ​ $ — ​ $ 1,310 ​ $ — Net investment contracts ​ 3,351 ​ — ​ 3,351 ​ — Deferred compensation ​ 53,628 ​ — ​ 53,628 ​ — Total liabilities ​ $ 58,289 ​ $ — ​ $ 58,289 ​ $ — ​ The fair value of the Company’s pension surplus assets are based on quoted market prices in active markets and are included in the Level 1 fair value hierarchy. The pension surplus assets are invested in money market and short-term duration bond funds at December 31, 2024. The Company’s derivative contracts are valued at fair value using the market approach. The Company measures the fair value of foreign exchange contracts, interest rate swap agreements, forward starting swap agreements using Level 2 inputs based on observable spot and forward rates in active markets. During the year ended December 31, 2024 there were no transfers between Levels 1, 2 or 3. 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, Marketable securities, Accounts receivable, Short-term debt excluding the current portion of long-term debt and Trade accounts payable approximated book value due to the short-term nature of these instruments at both December 31, 2024 and December 31, 2023. Refer to Note 9 to the consolidated financial statements for the fair value estimate of debt. The Company has various financial instruments, including cash and cash equivalents, short and long-term debt and forward contracts. While these financial instruments are subject to concentrations of credit risk, the Company has minimized this risk by entering into arrangements with a number of major banks and financial institutions and investing in several high-quality instruments. The Company does not expect any counterparties to fail to meet their obligations.

INVENTORY

INVENTORY	12 Months Ended
	Dec. 31, 2024
INVENTORY
INVENTORY	NOTE 16 – INVENTORY Inventories in the Consolidated Balance Sheet is comprised of the following components: ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, ​ 2024 2023 Raw materials ​ $ 153,596 ​ $ 160,809 Work-in-process ​ 123,406 ​ 125,756 Finished goods ​ 267,035 ​ 276,299 Total ​ $ 544,037 ​ $ 562,864 ​ 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 inventory levels and costs may differ from interim LIFO inventory valuations. At December 31, 2024 and 2023, approximately 35% and 37% of total inventories, respectively, were valued using the LIFO method. The excess of current cost over LIFO cost was $120,633 at December 31, 2024 and $129,946 at December 31, 2023, or a b enefit of $9,313 in 2024 and $3,963 in 2023.

LEASES

LEASES	12 Months Ended
	Dec. 31, 2024
LEASES
LEASES	NOTE 17 – LEASES The table below summarizes the right-of-use assets and lease liabilities in the Company’s Consolidated Balance sheets: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Operating Leases Balance Sheet Classification December 31, 2024 December 31, 2023 Right-of-use assets Other assets ​ $ 54,276 ​ $ 53,284 ​ ​ ​ ​ ​ ​ ​ ​ ​ Current liabilities Other current liabilities ​ $ 13,110 ​ $ 13,104 Noncurrent liabilities Other liabilities ​ 42,124 ​ 41,576 Total lease liabilities ​ $ 55,234 ​ $ 54,680 ​ Total lease expense, which is included in Cost of goods sold and Selling, general and administrative expenses in the Company’s Consolidated Statements of Income, was $24,778, $24,408 and $20,548 in the years ended December 31, 2024, 2023 and 2022, respectively. Cash paid for amounts included in the measurement of lease liabilities for the years ended December 31, 2024 and 2023 was $15,874 and $13,450, respectively, are included in Net cash provided by operating activities in the Company’s Consolidated Statements of Cash Flows. Right-of-use assets obtained in exchange for operating lease liabilities during the years ended December 31, 2024 and 2023 were $17,591 and $9,249, respectively. The total future minimum lease payments for noncancelable operating leases were as follows: ​ ​ ​ ​ ​ ​ December 31, 2024 2025 ​ $ 14,896 2026 ​ 12,336 2027 ​ 9,814 2028 ​ 8,069 2029 ​ 5,385 After 2029 ​ 11,442 Total lease payments ​ $ 61,942 Less: Imputed interest ​ 6,708 Operating lease liabilities ​ $ 55,234 ​ As of December 31, 2024 and 2023, the weighted average remaining lease term was 6.4 years and 7.0 years, respectively. As of December 31, 2024 and 2023, the weighted average discount rate used to determine the operating lease liability was 3.70% and 3.50%, respectively.

CONTINGENCIES

CONTINGENCIES	12 Months Ended
	Dec. 31, 2024
CONTINGENCIES
CONTINGENCIES	NOTE 18 – 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, regulatory claims, employment-related 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 accrues its best estimate of the probable costs, after a review of the facts with management and counsel and taking into account past experience. For claims or litigation that are material, if an unfavorable outcome is determined to be reasonably possible and the amount of loss can be reasonably estimated, or if an unfavorable outcome is determined to be probable and the amount of loss cannot be reasonably estimated, disclosure would be provided. 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.

SUPPLIER FINANCING PROGRAM

SUPPLIER FINANCING PROGRAM	12 Months Ended
	Dec. 31, 2024
SUPPLIER FINANCING PROGRAM
SUPPLIER FINANCING PROGRAM	NOTE 19 – SUPPLIER FINANCING PROGRAM ​ The Company’s suppliers, at the supplier’s sole discretion, are able to factor receivables due from the Company to a financial institution on terms directly negotiated with the financial institution without affecting the Company’s balance sheet classification of the corresponding payable. The Company pays the financial institution the stated amount of the confirmed invoices from its designated suppliers on the original maturity dates of the invoices. Invoices with suppliers have terms between 120 Trade accounts payable ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Twelve Months Ended December 31, ​ 2024 2023 Confirmed obligations at beginning of the period ​ $ 29,111 ​ $ 33,475 Invoices confirmed during the period ​ 103,908 ​ 97,820 Confirmed invoices paid during the period ​ (103,855) ​ (102,184) Confirmed obligations outstanding at the end of the period ​ $ 29,164 ​ $ 29,111 ​

SCHEDULE II - VALUATION AND QUA

SCHEDULE II - VALUATION AND QUALIFYING ACCOUNTS	12 Months Ended
	Dec. 31, 2024
SCHEDULE II - VALUATION AND QUALIFYING ACCOUNTS
SCHEDULE II - VALUATION AND QUALIFYING ACCOUNTS	SCHEDULE II – VALUATION AND QUALIFYING ACCOUNTS LINCOLN ELECTRIC HOLDINGS, INC. (In thousands) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Additions ​ ​ ​ ​ ​ ​ ​ ​ Balance at ​ Charged to ​ (Credited) ​ ​ ​ ​ ​ ​ ​ ​ Beginning ​ Costs and ​ Charged to ​ ​ ​ ​ Balance at End Description Of period Expenses Other Accounts (1) Deductions (2) of Period Allowance for doubtful accounts: ​ ​ ​ ​ ​ Year Ended December 31, 2024 ​ $ 11,464 ​ $ 4,371 ​ $ (2,057) ​ $ 1,104 ​ $ 12,674 Year Ended December 31, 2023 ​ 12,556 ​ ​ 1,195 ​ ​ (94) ​ ​ 2,193 ​ ​ 11,464 Year Ended December 31, 2022 ​ 11,105 ​ ​ 1,778 ​ ​ 598 ​ ​ 925 ​ ​ 12,556 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Deferred tax asset valuation allowance: ​ ​ ​ ​ ​ Year Ended December 31, 2024 ​ $ 36,876 ​ $ 3,010 ​ $ (3,532) ​ $ 1,070 ​ $ 35,284 Year Ended December 31, 2023 ​ 44,627 ​ ​ 4,570 ​ ​ (606) ​ ​ 11,715 ​ ​ 36,876 Year Ended December 31, 2022 ​ 55,619 ​ ​ 2,262 ​ ​ (5,197) ​ ​ 8,057 ​ ​ 44,627 ​ (1) Currency translation adjustment, reductions from restructuring and other adjustments. (2) For the Allowance for doubtful accounts, deductions relate to uncollectible accounts written-off, net of recoveries. For the Deferred tax asset valuation allowance, deductions relate to the reversal of valuation allowances due to the realization of net operating loss carryforwards.

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Pay vs Performance Disclosure
Net Income (Loss)	$ 466,108	$ 545,248	$ 472,224

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Dec. 31, 2024
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Insider Trading Policies and Pr

Insider Trading Policies and Procedures	12 Months Ended
	Dec. 31, 2024
Insider Trading Policies and Procedures [Line Items]
Insider Trading Policies and Procedures Adopted	true

Cybersecurity Risk Management a

Cybersecurity Risk Management and Strategy Disclosure	12 Months Ended
	Dec. 31, 2024
Cybersecurity Risk Management Strategy And Governance [Abstract]
Cybersecurity Risk Management Processes For Assessing Identifying And Managing Threats [Text Block]	Risk Management and Strategy Our cybersecurity risk management process is integrated into our ERM process as described in Item 1A. Risk Factors. Cybersecurity has been identified as a critical risk. To identify, assess, and manage material cybersecurity risks, we regularly evaluate and take steps to enhance our cybersecurity protocols to protect against or mitigate cyber threats. We conduct third-party and internal assessments of our environments, including system penetration testing, test our recovery and response processes, and we consider industry standards when developing our information security program. The Company has an information security training program, which calls for training all computer-based employees through various employee training modules relative to information security matters and phishing simulation events with employees to raise cybersecurity awareness. From time to time, we engage third-party assessors, consultants, auditors and others to assist us with evaluating, enhancing, implementing and monitoring our cybersecurity risk-management programs. We maintain processes to oversee and identify cybersecurity risks associated with our use of Like many companies, our systems and those of our third party providers who provide us with services and products may be subject to cybersecurity threats and cybersecurity incidents. To date,
Cybersecurity Risk Management Processes Integrated [Flag]	true
Cybersecurity Risk Management Processes Integrated [Text Block]	From time to time, we engage third-party assessors, consultants, auditors and others to assist us with evaluating, enhancing, implementing and monitoring our cybersecurity risk-management programs. We maintain processes to oversee and identify cybersecurity risks associated with our use of
Cybersecurity Risk Management Third Party Engaged [Flag]	true
Cybersecurity Risk Third Party Oversight And Identification Processes [Flag]	true
Cybersecurity Risk Materially Affected Or Reasonably Likely To Materially Affect Registrant [Flag]	false
Cybersecurity Risk Board Of Directors Oversight [Text Block]	Governance ​ Our Board oversees the management of our risks, including risks from cybersecurity threats, on an enterprise-wide basis, and the Lead Independent Director promotes our Board’s engagement in this process. Our Board has delegated oversight of the risk assessment and mitigation process with respect to cybersecurity to the Audit Committee of our Board. The Audit Committee regularly monitors the Company’s cybersecurity risks and receives updates from the Chief Information Officer (“CIO”) at each meeting. In addition, the Audit Committee regularly reviews the overall effectiveness of the information technology security environment as part of quarterly updates provided by the CIO. Our CIO has over 25 years of experience in the Information Technology (“IT”) and cybersecurity industry. The CIO is responsible for assessing and managing material risks from cybersecurity threats, including monitoring the prevention, detection, mitigation and remediation of cybersecurity incidents. On at least a quarterly basis, the CIO chairs the IT Governance Committee, which includes the executive management team. The purpose of this committee is to inform and make strategic decisions on IT-related matters, including the prevention, detection, mitigation and remediation of cybersecurity incidents. In addition, the CIO regularly reviews key cybersecurity risk metrics and reporting designed to measure the effectiveness of related processes and procedures as part of quarterly updates to the Audit Committee. The CIO utilizes this information in her reporting to the Board and Audit Committee of the Board.
Cybersecurity Risk Board Committee Or Subcommittee Responsible For Oversight [Text Block]	Audit Committee of our Board
Cybersecurity Risk Process For Informing Board Committee Or Subcommittee Responsible For Oversight [Text Block]	Our Board oversees the management of our risks, including risks from cybersecurity threats, on an enterprise-wide basis, and the Lead Independent Director promotes our Board’s engagement in this process. Our Board has delegated oversight of the risk assessment and mitigation process with respect to cybersecurity to the Audit Committee of our Board.
Cybersecurity Risk Role Of Management [Text Block]	Our Board oversees the management of our risks, including risks from cybersecurity threats, on an enterprise-wide basis, and the Lead Independent Director promotes our Board’s engagement in this process. Our Board has delegated oversight of the risk assessment and mitigation process with respect to cybersecurity to the Audit Committee of our Board. The Audit Committee regularly monitors the Company’s cybersecurity risks and receives updates from the Chief Information Officer (“CIO”) at each meeting. In addition, the Audit Committee regularly reviews the overall effectiveness of the information technology security environment as part of quarterly updates provided by the CIO. Our CIO has over 25 years of experience in the Information Technology (“IT”) and cybersecurity industry. The CIO is responsible for assessing and managing material risks from cybersecurity threats, including monitoring the prevention, detection, mitigation and remediation of cybersecurity incidents. On at least a quarterly basis, the CIO chairs the IT Governance Committee, which includes the executive management team. The purpose of this committee is to inform and make strategic decisions on IT-related matters, including the prevention, detection, mitigation and remediation of cybersecurity incidents. In addition, the CIO regularly reviews key cybersecurity risk metrics and reporting designed to measure the effectiveness of related processes and procedures as part of quarterly updates to the Audit Committee. The CIO utilizes this information in her reporting to the Board and Audit Committee of the Board.
Cybersecurity Risk Management Positions Or Committees Responsible [Flag]	true
Cybersecurity Risk Management Positions Or Committees Responsible [Text Block]	The Audit Committee regularly monitors the Company’s cybersecurity risks and receives updates from the Chief Information Officer (“CIO”) at each meeting.
Cybersecurity Risk Management Expertise Of Management Responsible [Text Block]	Our CIO has over 25 years of experience in the Information Technology (“IT”) and cybersecurity industry.
Cybersecurity Risk Process For Informing Management Or Committees Responsible [Text Block]	Our CIO has over 25 years of experience in the Information Technology (“IT”) and cybersecurity industry. The CIO is responsible for assessing and managing material risks from cybersecurity threats, including monitoring the prevention, detection, mitigation and remediation of cybersecurity incidents. On at least a quarterly basis, the CIO chairs the IT Governance Committee, which includes the executive management team. The purpose of this committee is to inform and make strategic decisions on IT-related matters, including the prevention, detection, mitigation and remediation of cybersecurity incidents. In addition, the CIO regularly reviews key cybersecurity risk metrics and reporting designed to measure the effectiveness of related processes and procedures as part of quarterly updates to the Audit Committee. The CIO utilizes this information in her reporting to the Board and Audit Committee of the Board.
Cybersecurity Risk Management Positions Or Committees Responsible Report To Board [Flag]	true

SIGNIFICANT ACCOUNTING POLICI_2

SIGNIFICANT ACCOUNTING POLICIES (Policies)	12 Months Ended
	Dec. 31, 2024
SIGNIFICANT ACCOUNTING POLICIES
Principles of Consolidation	Principles of Consolidation The consolidated financial statements include the accounts of Lincoln Electric Holdings, Inc. and its wholly-owned and majority-owned subsidiaries for which it has a controlling interest (the "Company") after elimination of all inter-company accounts, transactions and profits. Certain reclassifications have been made to the prior period amounts to conform to the current period presentation, none of which are material.
General Information	General Information The Company is the world leader in the design, development and manufacture of arc welding products, automated joining, assembly and cutting systems, plasma and oxy-fuel cutting equipment. The Company also has a leading global position in brazing and soldering alloys. The Company’s products include arc welding, brazing and soldering filler metals (consumables), arc welding equipment, plasma and oxyfuel cutting systems, wire feeding systems, fume control equipment, welding accessories, specialty gas regulators, and education solutions; as well as a comprehensive portfolio of automated solutions for joining, cutting, material handling, module assembly, and end of line testing. In March 2022, in response to Russia’s invasion of Ukraine, the Company announced it was ceasing operations in Russia and implementing plans to support its Russian employees. In May 2024, the Company disposed of its Russian entity and completed its exit from the Russian market. As a result, $22,566 of cumulative translation adjustment previously recognized within Other comprehensive income (loss) was recorded to Rationalization and asset impairment charges on the Consolidated Statements of Income in the year ended December 31, 2024.
Translation of Foreign Currencies	Translation of Foreign Currencies Asset and liability accounts are translated into U.S. dollars using exchange rates in effect at the dates of the Consolidated Balance Sheets; revenue and expense accounts are translated at average monthly exchange rates. Translation adjustments are reflected as a component of Total equity. For subsidiaries operating in highly inflationary economies, both historical and current exchange rates are used in translating balance sheet accounts and translation adjustments are included in Net income. An economy is considered highly inflationary under generally accepted accounting principles in the United States (“GAAP”) if the cumulative inflation rate for a three-year period meets or exceeds 100 percent. The Turkish economy exceeded the three-year cumulative inflation rate of percent during the second quarter of 2022. As a result, the financial statements of the Company’s Turkish operation are reported under highly inflationary accounting rules as of April 1, 2022. Under highly inflationary accounting, the financial statements of the Company’s Turkish operation have been remeasured into the Company’s reporting currency (U.S. dollar). Beginning April 1, 2022, the exchange gains and losses from the remeasurement of monetary assets and liabilities are reflected in current earnings, rather than “Accumulated other comprehensive loss” on the Consolidated Balance Sheet. For the years ended December 31, 2024, 2023 and 2022, this impact was not significant to the Company’s results. ​ The translation of assets and liabilities originally denominated in foreign currencies into U.S. dollars is for consolidation purposes, and does not necessarily indicate that the Company could realize or settle the reported value of those assets and liabilities in U.S. dollars. Additionally, such a translation does not necessarily indicate that the Company could return or distribute the reported U.S. dollar value of the net equity of its foreign operations to shareholders. Foreign currency transaction net (gains) losses are included in Selling, general & administrative expenses and were
Cash Equivalents	Cash Equivalents The Company considers all highly liquid investments with a maturity of three months or less when purchased to be cash equivalents.
Inventories	Inventories Inventories are valued at the lower of cost or net realizable value. Fixed manufacturing overhead costs are allocated to inventory based on normal production capacity and abnormal manufacturing costs are recognized as period costs. Cost for a substantial portion of U.S. inventories is determined on a last-in, first-out (“LIFO”) basis. At December 31, 2024 and 2023, approximately 35% and 37% of total inventories, respectively, were valued using the LIFO method. Cost of other inventories is determined by costing methods that approximate a first-in, first-out (“FIFO”) basis. Refer to Note 16 for additional details. Reserves are maintained for estimated obsolescence or excess inventory equal to the difference between the cost of inventory and the estimated net realizable value based upon historical usage, future demand and market conditions. The reserve for excess and obsolete inventory was $31,072 and $31,881 at December 31, 2024 and 2023, respectively.
Long-lived Assets	Long-lived Assets Property, Plant and Equipment Property, plant and equipment are stated at cost and include improvements which significantly increase capacities or extend the useful lives of existing plant and equipment. Depreciation and amortization are computed using a straight-line method over useful lives ranging from 3 years to 20 years for machinery, tools and equipment, and up to 40 years for buildings. Net gains or losses related to asset dispositions are recognized in earnings in the period in which dispositions occur. Routine maintenance, repairs and replacements are expensed as incurred. The Company capitalizes interest costs associated with long-term construction in progress. Property, plant and equipment, net in the Consolidated Balance Sheet is comprised of the following components: ​ ​ ​ ​ ​ ​ ​ ​ December 31, ​ 2024 2023 Land $ 64,016 ​ $ 67,949 Buildings 445,319 ​ 445,041 Machinery and equipment 975,480 ​ 939,316 ​ 1,484,815 ​ 1,452,306 Less accumulated depreciation 865,634 ​ 876,990 Total $ 619,181 ​ $ 575,316 ​ ​ ​ ​ Leases The Company determines if an agreement is a lease at inception. The Company records a right-of-use asset on its Consolidated Balance Sheets to represent its right to use an underlying asset for the lease term. The Company records a lease liability on its Consolidated Balance Sheets to represent its obligation to make lease payments arising from the lease. Operating lease right-of-use assets and liabilities are recognized at the lease commencement date based on the present value of lease payments over the lease term. As most of the Company’s operating leases do not provide an implicit rate, the Company uses its incremental borrowing rate based on information available at commencement date to present value the lease payments. The Company has operating leases for sales offices, manufacturing facilities, warehouses and distribution centers, transportation equipment, office equipment and information technology equipment. Some of these leases are noncancelable. Variable or short-term lease costs contained within the Company’s operating leases are not material. Most leases include one or more options to The depreciable life of assets and leasehold improvements are limited by the expected lease term, unless there is a transfer of title or purchase option reasonably certain of exercise. The Company’s lease agreements do not contain any material residual value guarantees or material restrictive covenants. Impairments The Company periodically evaluates whether current facts or circumstances indicate that the carrying value of its depreciable long-lived assets, including right-of-use assets and finite-lived intangible assets, to be held and used may not be recoverable. If such circumstances are determined to exist, an estimate of undiscounted future cash flows produced by the long-lived asset, or the appropriate grouping of assets, is compared to the carrying value to determine whether impairment exists. If an asset is determined to be impaired, a loss is recognized to the extent that carrying value exceeds fair value. Fair value is measured based on quoted market prices in active markets, if available. If quoted market prices are not available, the estimate of fair value is based on various valuation techniques, including the discounted value of estimated future cash flows. Refer to Notes 5, 7 and 17 for additional details.
Goodwill and Intangibles	Goodwill and Intangibles Goodwill is recorded when the cost of acquired businesses exceeds the fair value of the identifiable net assets acquired. Intangible assets other than goodwill are recorded at fair value at the time acquired or at cost, if applicable. Intangible assets that do not have indefinite lives are amortized in line with the pattern in which the economic benefits of the intangible asset are consumed. If the pattern of economic benefit cannot be reliably determined, the intangible assets are amortized on a straight-line basis over the shorter of the legal or estimated life. These types of assets are assessed for impairment in a manner consistent with long-lived assets described above. Goodwill and indefinite-lived intangible assets are not amortized, but are tested for impairment in the fourth quarter using the same date each year or more frequently if changes in circumstances or the occurrence of events indicate potential impairment. In performing the annual impairment test, the fair value of each indefinite-lived intangible asset is compared to its carrying value and an impairment charge is recorded if the carrying value exceeds the fair value. For goodwill, the Company first assesses qualitative factors to determine whether it is more-likely-than-not that the fair value of a reporting unit is less than its carrying amount, and whether it is necessary to perform the quantitative goodwill impairment test. The quantitative test is only required if the Company concludes that it is more-likely-than-not that a reporting unit’s fair value is less than its carrying amount. The Company may also perform a quantitative test in instances where the more-likely-than-not threshold has not been met, including when general macroeconomic conditions or changes to the reporting unit warrant a refresh of the baseline used in a qualitative test. For quantitative testing, the Company compares the fair value of each reporting unit with its carrying amount. If the carrying amount exceeds the fair value, an impairment charge is recognized for the amount by which the carrying amount exceeds the reporting unit’s fair value, not to exceed the total amount of goodwill allocated to that reporting unit. Fair values are determined using established business valuation techniques and models developed by the Company, estimates of market participant assumptions of future cash flows, future growth rates and discount rates to value estimated cash flows. Changes in economic and operating conditions, actual growth below the assumed market participant assumptions or an increase in the discount rate could result in an impairment charge in a future period. Refer to Note 5 for additional details.
Fair Value Measurements	Fair Value Measurements Financial assets and liabilities, such as the Company’s defined benefit pension plan assets and derivative contracts, are valued at fair value using the market and income valuation approaches. 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 that measure fair value: ​ ​ ​ ​ Level 1 ​ Inputs to the valuation methodology are unadjusted quoted prices for identical assets or liabilities in active markets. Level 2 ​ Inputs to the valuation methodology include: ​ ​ · ​ ​ · ​ ​ · ​ ​ · ​ ​ If the asset or liability has a specific (contractual) term, the Level 2 input must be observable for substantially the full term of the asset or liability. Level 3 ​ Inputs to the valuation methodology are unobservable and significant to the fair value measurement. ​ Refer to Notes 11 and 15 for additional details.
Revenue Recognition	Revenue Recognition Revenue is recognized when obligations under the terms of a contract are satisfied and control is transferred to the customer. Revenue is measured as the amount of consideration the Company expects to be entitled to in exchange for goods or services. Substantially all of the Company’s sales arrangements are short-term in nature involving a single performance obligation. The Company recognizes revenue when the performance obligation is satisfied and control of the product is transferred to the customer generally based upon shipping terms. In addition, certain customized automation performance obligations are accounted for over time. Under this method, revenue recognition is primarily based upon the ratio of costs incurred to date compared with estimated total costs to complete. The cumulative impact of revisions to total estimated costs is reflected in the period of the change, including anticipated losses. Approximately 10% of the Company’s Net sales are recognized over time. The Company recognizes any discounts, credits, returns, rebates and incentive programs based on reasonable estimates as a reduction of sales to arrive at Net sales at the same time the related revenue is recorded. Taxes collected by the Company, including sales tax and value added tax, are excluded from Net sales. The Company recognizes freight billed as a component of Net sales and shipping costs as a component of Cost of goods sold when control transfers to the customer. Sales commissions are expensed when incurred because the amortization period is generally one year or less. These costs are recorded within Selling, general and administrative expenses in the Company’s Consolidated Statements of Income. The Company’s payment terms vary by the type and location of the customer and the products or services offered. The Company does not offer any payment terms that would meet the requirements for consideration as a financing component under Accounting Standards Codification Topic 606. Refer to Note 2 for additional details.
Distribution Costs	Distribution Costs Distribution costs, including warehousing and freight related to product shipments, are included in Cost of goods sold.
Stock-Based Compensation	Stock-Based Compensation Expense is recognized for all awards of stock-based compensation by allocating the aggregate grant date fair value over the vesting period. No expense is recognized for any stock options, restricted or deferred shares or restricted stock units ultimately forfeited because the recipients fail to meet vesting requirements. Common stock issuable upon the exercise of employee stock options is excluded from the calculation of diluted earnings per share when the calculation of option equivalent shares is anti-dilutive. Refer to Note 10 to the consolidated financial statements for additional details.
Financial Instruments	Financial Instruments The Company uses derivative instruments to manage exposures to interest rates, commodity prices and currency exchange rate fluctuations on certain purchase and sales transactions, balance sheet and net investment exposures. Derivative contracts to hedge currency and commodity exposures are generally written on a short-term basis, but may cover exposures for up to 3 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 Net cash provided by operating activities in the Company’s Consolidated Statements of Cash Flows. 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. Cash flow hedges Certain foreign currency forward contracts and commodity contracts are qualified and designated as cash flow hedges. The effective portion of the fair value unrealized gain or loss on cash flow hedges are reported as a component of Accumulated other comprehensive income ("AOCI") with offsetting amounts recorded as Other current assets, Other assets, Other current liabilities or Other liabilities depending on the position and the duration of the contract. At settlement, the realized gain or loss is recorded in Cost of goods sold or Net sales for hedges of purchases and sales, respectively, in the same period or periods during which the hedged transaction affects earnings. The ineffective portion on cash flow hedges is recognized in current earnings. ​ Net investment hedges For derivative instruments that qualify as a net investment hedge, the effective portion of the fair value gains or losses are recognized in AOCI with offsetting amounts recorded as Other current assets, Other assets, Other current liabilities or Other liabilities depending on the position and the duration of the contract. The gains or losses are 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 which are not designated as hedges. These derivatives are held as hedges of certain balance sheet exposures. The gains or losses on t Refer to Note 14 to the consolidated financial statements for additional details.
Research and Development	Research and Development Research and development costs are charged to Selling, general and administrative expenses as incurred and totaled $81,821, $71,235 and $63,207 in 2024, 2023 and 2022, respectively.
Bonus	Bonus The Company’s discretionary employee bonus programs, which for certain U.S.-based employees are net of medical costs, are included in Selling, general and administrative expenses. Bonus costs were $166,554, $192,498 and $159,281 in 2024, 2023 and 2022, respectively.
Income Taxes	Income Taxes Deferred income taxes are recognized at currently enacted tax rates for temporary differences between the GAAP and income tax basis of assets and liabilities and operating loss and tax credit carry-forwards. In assessing the realizability of deferred tax assets, the Company assesses whether it is more-likely-than-not that a portion or all of the deferred tax assets will not be realized. The Company maintains liabilities for unrecognized tax benefits related to uncertain income tax positions in various jurisdictions. The Company uses judgment in determining whether the technical merits of tax positions are more-likely-than-not to be sustained. Judgment is also used in measuring the related amount of tax benefit that qualifies for recognition, including the interpretation of applicable tax law, regulations and tax rulings. The Company elects to treat any Global Intangible Low Taxed Income inclusion as a period expense in the year incurred. Refer to Note 13 for additional details.
Acquisitions	Acquisitions The acquisition of a business is accounted for as a business combination, which requires the assets acquired and liabilities assumed be recognized at their respective fair values as of the acquisition date. The process of estimating the fair values of certain tangible assets, identifiable intangible assets and assumed liabilities requires the use of judgment in determining the appropriate assumptions and estimates. The Company uses the income, market or cost approach (or a combination thereof) for the valuation as appropriate. The valuation inputs in these models and analyses are based on market participant assumptions. Market participants are considered to be buyers and sellers unrelated to the Company in the principal or most advantageous market for the asset or liability. Fair value estimates are based on a series of judgments about future events and uncertainties and rely on estimates and assumptions. Management values property, plant and equipment using the cost approach supported where available by observable market data, which includes consideration of obsolescence. Management values acquired intangible assets using the relief from royalty method or excess earnings method, forms of the income approach supported by observable market data for peer companies. The significant assumptions used to estimate the value of the acquired intangible assets include discount rates and certain assumptions that form the basis of future cash flows (such as revenue growth rates, customer attrition rates, and royalty rates). Acquired inventories are marked to fair value. For certain items, the pre-acquisition carrying value is determined to be a reasonable approximation of fair value based on information available to the Company. Refer to Note 4 for additional details.
Estimates	Estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions in certain circumstances that affect the amounts reported in the accompanying consolidated financial statements and notes. Actual results could differ from these estimates.
New Accounting Pronouncements	New Accounting Pronouncements The following section provides a description of new Accounting Standards Updates (“ASU”) issued by the Financial Accounting Standards Board ("FASB") that are applicable to the Company. The following ASUs were adopted as of January 1, 2024 and did not have a significant financial impact on the Company’s consolidated financial statements unless otherwise described within the table below: ​ Standard Description ASU No. 2023-07, Segment Reporting (Topic 280) ​ Requires enhanced disclosures about significant segment expenses, including significant segment expenses that are regularly provided to the chief operating decision maker (“CODM”), the title and position of the CODM, an amount for other segment items by reportable segment, and disclosures about segment profit or loss and assets on an annual and interim basis. The amendments are effective for annual periods beginning January 1, 2024, and interim periods beginning January 1, 2025. Refer to Note 6 for the impacts on the Company’s consolidated financial statements. ASU No. 2023-01, Leases-Common Control Arrangements (Topic 842) Requires a lessee in a common-control arrangement to amortize leasehold improvements that it owns over the improvements’ useful life, regardless of the lease term. The requirements of the ASU are effective January 1, 2024. ASU No. 2022-04, Liabilities-Supplier Finance Programs (Subtopic 405-50) Requires disclosure about a company’s supplier finance programs, including a period-over-period balance roll forward. This requirement of the ASU is effective January 1, 2024 and should be applied prospectively. Refer to Note 19. ​ The Company is currently evaluating the impact on its financial statements of the following ASUs: ​ ​ ​ ​ Standard Description ASU No. 2024-03, Income Statement-Reporting Comprehensive Income-Expense Disaggregation Disclosures ​ Requires enhanced disclosures of specified information about certain costs and expenses. The amendments are effective for annual periods beginning January 1, 2027, and interim periods beginning January 1, 2028. Early adoption is prohibited. ASU No. 2023-06, Disclosure Improvements ​ Requires amending certain disclosure and presentation requirements for a variety of topics within the ASC. The effective date for each amended topic in the ASC is either the date on which the SEC’s removal of the related disclosure requirement from Regulation S-X or S-K becomes effective, or June 30, 2027, if the SEC has not removed the requirements by that date. Early adoption is prohibited. ASU No. 2023-09, Income Taxes (Topic 740) ​ Requires disclosure of specific categories in rate reconciliation and additional information for reconciling items that meet a quantitative threshold, additional information about income taxes paid, and disclosure of disaggregated income tax information. The amendments are effective January 1, 2025 and early adoption is permitted. ​

SIGNIFICANT ACCOUNTING POLICI_3

SIGNIFICANT ACCOUNTING POLICIES (Tables)	12 Months Ended
	Dec. 31, 2024
SIGNIFICANT ACCOUNTING POLICIES
Property, Plant and Equipment	Property, plant and equipment, net in the Consolidated Balance Sheet is comprised of the following components: ​ ​ ​ ​ ​ ​ ​ ​ December 31, ​ 2024 2023 Land $ 64,016 ​ $ 67,949 Buildings 445,319 ​ 445,041 Machinery and equipment 975,480 ​ 939,316 ​ 1,484,815 ​ 1,452,306 Less accumulated depreciation 865,634 ​ 876,990 Total $ 619,181 ​ $ 575,316
Schedule of adopted accounting pronouncements	​ Standard Description ASU No. 2023-07, Segment Reporting (Topic 280) ​ Requires enhanced disclosures about significant segment expenses, including significant segment expenses that are regularly provided to the chief operating decision maker (“CODM”), the title and position of the CODM, an amount for other segment items by reportable segment, and disclosures about segment profit or loss and assets on an annual and interim basis. The amendments are effective for annual periods beginning January 1, 2024, and interim periods beginning January 1, 2025. Refer to Note 6 for the impacts on the Company’s consolidated financial statements. ASU No. 2023-01, Leases-Common Control Arrangements (Topic 842) Requires a lessee in a common-control arrangement to amortize leasehold improvements that it owns over the improvements’ useful life, regardless of the lease term. The requirements of the ASU are effective January 1, 2024. ASU No. 2022-04, Liabilities-Supplier Finance Programs (Subtopic 405-50) Requires disclosure about a company’s supplier finance programs, including a period-over-period balance roll forward. This requirement of the ASU is effective January 1, 2024 and should be applied prospectively. Refer to Note 19.
Schedule of pending accounting pronouncements	​ ​ ​ ​ Standard Description ASU No. 2024-03, Income Statement-Reporting Comprehensive Income-Expense Disaggregation Disclosures ​ Requires enhanced disclosures of specified information about certain costs and expenses. The amendments are effective for annual periods beginning January 1, 2027, and interim periods beginning January 1, 2028. Early adoption is prohibited. ASU No. 2023-06, Disclosure Improvements ​ Requires amending certain disclosure and presentation requirements for a variety of topics within the ASC. The effective date for each amended topic in the ASC is either the date on which the SEC’s removal of the related disclosure requirement from Regulation S-X or S-K becomes effective, or June 30, 2027, if the SEC has not removed the requirements by that date. Early adoption is prohibited. ASU No. 2023-09, Income Taxes (Topic 740) ​ Requires disclosure of specific categories in rate reconciliation and additional information for reconciling items that meet a quantitative threshold, additional information about income taxes paid, and disclosure of disaggregated income tax information. The amendments are effective January 1, 2025 and early adoption is permitted. ​

REVENUE RECOGNITION (Tables)

REVENUE RECOGNITION (Tables)	12 Months Ended
	Dec. 31, 2024
REVENUE RECOGNITION
Schedule of disaggregation of revenue by product line	The following table presents the Company’s Net sales disaggregated by product line: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended December 31, ​ 2024 2023 2022 Consumables ​ $ 2,088,721 ​ $ 2,212,314 ​ $ 2,183,019 Equipment ​ 1,919,949 ​ 1,979,322 ​ 1,578,192 Net sales ​ $ 4,008,670 ​ $ 4,191,636 ​ $ 3,761,211

EARNINGS PER SHARE (Tables)

EARNINGS PER SHARE (Tables)	12 Months Ended
	Dec. 31, 2024
EARNINGS PER SHARE
Schedule of computation of basic and diluted earnings per share	The following table sets forth the computation of basic and diluted earnings per share: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended December 31, ​ 2024 2023 2022 Numerator: ​ ​ ​ Net income ​ $ 466,108 ​ $ 545,248 ​ $ 472,224 Denominator (shares in 000's): ​ ​ ​ Basic weighted average shares outstanding ​ 56,639 ​ 57,364 ​ 58,030 Effect of dilutive securities - Stock options and awards ​ 555 ​ 857 ​ 719 Diluted weighted average shares outstanding ​ 57,194 ​ 58,221 ​ 58,749 Basic earnings per share ​ $ 8.23 ​ $ 9.50 ​ $ 8.14 Diluted earnings per share ​ $ 8.15 ​ $ 9.37 ​ $ 8.04

ACQUISITIONS (Tables)

ACQUISITIONS (Tables)	12 Months Ended
	Dec. 31, 2024
Fori
Acquisitions
Schedule of assets acquired and liabilities assumed	​ ​ ​ ​ ​ Assets Acquired and Liabilities Assumed Purchase Price Allocation Cash and cash equivalents ​ $ 52,330 Accounts receivable ​ ​ 64,439 Inventory ​ 67,763 Property, plant and equipment (1) ​ 36,863 Intangible assets (2) ​ 69,350 Accounts payable ​ 17,996 Net other assets and liabilities (3) ​ 195,934 Total purchase price consideration ​ $ 468,683 ​ (1) Property, plant and equipment acquired includes a number of manufacturing and distribution sites, including the related facilities, land and leased sites, and machinery and equipment for use in manufacturing operations. ​ (2) Intangible asset balances of $22,000 and $18,200 , respectively, were assigned to trade names and customer relationships ( 15 year weighted average useful life). Of the remaining amount, $24,900 was assigned to technology know-how ( 10 year weighted average useful life) and $4,250 was assigned to restrictive covenants ( 4 year weighted average life). ​ (3) Consists primarily of goodwill of $244,325 .

GOODWILL AND INTANGIBLES (Table

GOODWILL AND INTANGIBLES (Tables)	12 Months Ended
	Dec. 31, 2024
GOODWILL AND INTANGIBLES
Changes in the carrying amount of goodwill by reportable segment	The changes in the carrying amount of goodwill by reportable segments for the years ended December 31, 2024 and 2023 were as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ The Harris ​ ​ ​ Americas ​ International ​ Products ​ ​ ​ ​ Welding Welding Group Consolidated Balance as of December 31, 2022 $ 492,187 ​ $ 129,919 ​ $ 43,151 ​ $ 665,257 Additions and adjustments (1) (2,899) ​ ​ 23,111 ​ ​ — ​ 20,212 Foreign currency translation 8,312 ​ ​ 449 ​ ​ 222 ​ 8,983 Balance as of December 31, 2023 497,600 ​ 153,479 ​ 43,373 ​ 694,452 Additions and adjustments (2) 101,657 ​ ​ 33,427 ​ ​ — ​ 135,084 Foreign currency translation (13,443) ​ ​ (10,644) ​ ​ (522) ​ (24,609) Balance as of December 31, 2024 $ 585,814 ​ $ 176,262 ​ $ 42,851 ​ $ 804,927 ​ (1) Adjustments to Americas Welding reflect goodwill recognized in the acquisition of Powermig offset by Fori purchase accounting adjustments in 2023. Additions to International Welding reflect Fori purchase accounting adjustments in 2023. (2) Additions to Americas Welding reflect goodwill recognized in the acquisitions of Vanair and RedViking. Additions to International Welding reflect goodwill recognized in the acquisition of Inrotech.
Schedule of gross and net indefinite-lived intangible assets other than goodwill by asset class	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2024 ​ December 31, 2023 ​ ​ Gross Accumulated Gross Accumulated ​ Amount Amortization Amount Amortization Intangible assets not subject to amortization ​ ​ ​ ​ ​ Trademarks and trade names ​ $ 16,208 ​ ​ $ 16,038 ​ Intangible assets subject to amortization ​ ​ ​ ​ Trademarks and trade names ​ $ 106,512 ​ $ 55,078 ​ $ 93,065 ​ $ 52,510 Customer relationships ​ 192,196 ​ 106,719 ​ 171,338 ​ 102,643 Technology and know-how ​ ​ 82,019 ​ ​ 29,478 ​ ​ 68,365 ​ ​ 24,602 Patents ​ 23,901 ​ 16,008 ​ 25,150 ​ 15,879 Other ​ 42,315 ​ 34,863 ​ 43,451 ​ 35,106 Total intangible assets subject to amortization ​ $ 446,943 ​ $ 242,146 ​ $ 401,369 ​ $ 230,740
Schedule of gross and net finite-lived intangible assets other than goodwill by asset class	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2024 ​ December 31, 2023 ​ ​ Gross Accumulated Gross Accumulated ​ Amount Amortization Amount Amortization Intangible assets not subject to amortization ​ ​ ​ ​ ​ Trademarks and trade names ​ $ 16,208 ​ ​ $ 16,038 ​ Intangible assets subject to amortization ​ ​ ​ ​ Trademarks and trade names ​ $ 106,512 ​ $ 55,078 ​ $ 93,065 ​ $ 52,510 Customer relationships ​ 192,196 ​ 106,719 ​ 171,338 ​ 102,643 Technology and know-how ​ ​ 82,019 ​ ​ 29,478 ​ ​ 68,365 ​ ​ 24,602 Patents ​ 23,901 ​ 16,008 ​ 25,150 ​ 15,879 Other ​ 42,315 ​ 34,863 ​ 43,451 ​ 35,106 Total intangible assets subject to amortization ​ $ 446,943 ​ $ 242,146 ​ $ 401,369 ​ $ 230,740
Schedule of Acquired Finite-Lived Intangible Assets by Major Class	​ ​ ​ ​ ​ ​ ​ Year Ended December 31, 2024 ​ Purchase Price ​ Weighted ​ Allocation Average Life Acquired intangible assets subject to amortization Trademarks and trade names $ 17,977 15 Customer relationships 32,203 14 Technology and know-how 17,222 10 Other 2,075 5 Total acquired intangible assets subject to amortization $ 69,477

SEGMENT INFORMATION (Tables)

SEGMENT INFORMATION (Tables)	12 Months Ended
	Dec. 31, 2024
SEGMENT INFORMATION
Schedule of financial information for the reportable segments	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ The Harris ​ ​ ​ ​ ​ ​ ​ Americas ​ International ​ Products ​ Corporate / ​ ​ ​ ​ Welding (1) Welding (2) Group (3) Eliminations (4) Consolidated For the Year Ended December 31, 2024 ​ ​ ​ ​ ​ Net sales $ 2,564,847 ​ $ 933,722 ​ $ 510,101 ​ $ — ​ $ 4,008,670 Inter-segment sales 135,758 ​ 35,861 ​ 12,321 ​ (183,940) ​ ​ — Total sales ​ 2,700,605 ​ ​ 969,583 ​ ​ 522,422 ​ ​ (183,940) ​ ​ 4,008,670 Cost of goods sold ​ 1,638,568 ​ ​ 700,428 ​ ​ 378,292 ​ ​ (181,530) ​ ​ 2,535,758 Gross profit ​ 1,062,037 ​ ​ 269,155 ​ ​ 144,130 ​ ​ (2,410) ​ ​ 1,472,912 Other segment expenses (5) ​ 559,670 ​ ​ 200,785 ​ ​ 59,757 ​ ​ 15,765 ​ ​ 835,977 EBIT ​ 502,367 ​ ​ 68,370 ​ ​ 84,373 ​ ​ (18,175) ​ ​ 636,935 Special items charge 27,821 ​ 37,747 ​ 3,955 ​ 7,147 ​ ​ 76,670 Adjusted EBIT $ 530,188 ​ $ 106,117 ​ $ 88,328 ​ $ (11,028) ​ $ 713,605 Special items charge ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (76,670) Interest income ​ ​ ​ ​ ​ ​ ​ ​ ​ 10,130 Interest expense ​ ​ ​ ​ ​ ​ ​ ​ ​ (52,916) Income before income taxes ​ ​ ​ ​ ​ ​ ​ ​ ​ $ 594,149 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total assets $ 2,416,411 ​ $ 1,050,327 ​ $ 346,645 ​ $ (293,241) ​ $ 3,520,142 Capital expenditures 94,528 ​ 17,814 ​ 4,144 ​ 117 ​ ​ 116,603 Depreciation and amortization 57,016 ​ 21,735 ​ 10,091 ​ (604) ​ ​ 88,238 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the Year Ended December 31, 2023 ​ ​ ​ ​ Net sales $ 2,655,546 ​ $ 1,040,006 ​ $ 496,084 ​ $ — ​ $ 4,191,636 Inter-segment sales 127,536 ​ 31,498 ​ 10,641 ​ (169,675) ​ ​ — Total ​ 2,783,082 ​ ​ 1,071,504 ​ ​ 506,725 ​ ​ (169,675) ​ ​ 4,191,636 Cost of goods sold ​ 1,739,850 ​ ​ 776,982 ​ ​ 377,748 ​ ​ (168,389) ​ ​ 2,726,191 Gross profit ​ 1,043,232 ​ ​ 294,522 ​ ​ 128,977 ​ ​ (1,286) ​ ​ 1,465,445 Other segment expenses (5) ​ 514,821 ​ ​ 148,304 ​ ​ 54,833 ​ ​ 16,250 ​ ​ 734,208 EBIT ​ 528,411 ​ ​ 146,218 ​ ​ 74,144 ​ ​ (17,536) ​ ​ 731,237 Special items charge (gain) 9,858 ​ (9,721) ​ — ​ — ​ ​ 137 Adjusted EBIT $ 538,269 ​ $ 136,497 ​ $ 74,144 ​ $ (17,536) ​ $ 731,374 Special items charge ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (137) Interest income ​ ​ ​ ​ ​ ​ 6,762 Interest expense ​ ​ ​ ​ ​ ​ (51,133) Income before income taxes ​ ​ ​ ​ ​ ​ $ 686,866 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total assets $ 2,365,737 ​ $ 1,046,369 ​ $ 340,463 ​ $ (375,272) ​ $ 3,377,297 Capital expenditures 61,752 ​ 20,568 ​ 8,550 ​ 117 ​ ​ 90,987 Depreciation and amortization ​ 55,821 ​ 22,023 ​ 9,611 ​ (785) ​ ​ 86,670 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the Year Ended December 31, 2022 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Net sales $ 2,288,934 ​ $ 954,281 ​ $ 517,996 ​ $ — ​ $ 3,761,211 Inter-segment sales 122,019 ​ 31,503 ​ 11,040 ​ (164,562) ​ ​ — Total ​ 2,410,953 ​ ​ 985,784 ​ ​ 529,036 ​ ​ (164,562) ​ ​ 3,761,211 Cost of goods sold ​ 1,514,203 ​ ​ 719,051 ​ ​ 410,861 ​ ​ (163,664) ​ ​ 2,480,451 Gross profit ​ 896,750 ​ ​ 266,733 ​ ​ 118,175 ​ ​ (898) ​ ​ 1,280,760 Other segment expenses (5) ​ 430,871 ​ ​ 158,257 ​ ​ 54,167 ​ ​ 15,138 ​ ​ 658,433 EBIT ​ 465,879 ​ ​ 108,476 ​ ​ 64,008 ​ ​ (16,036) ​ ​ 622,327 Special items (gain) charge (3,060) ​ 11,681 ​ — ​ 6,003 ​ ​ 14,624 Adjusted EBIT $ 462,819 ​ $ 120,157 ​ $ 64,008 ​ $ (10,033) ​ $ 636,951 Special items charge ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (14,624) Interest income ​ ​ ​ ​ ​ ​ 1,607 Interest expense ​ ​ ​ ​ ​ ​ (31,107) Income before income taxes ​ ​ ​ ​ ​ ​ $ 592,827 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total assets $ 2,122,729 ​ $ 994,905 ​ $ 361,989 ​ $ (299,077) ​ $ 3,180,546 Capital expenditures 43,003 ​ 17,955 ​ 10,925 ​ — ​ ​ 71,883 Depreciation and amortization 47,291 ​ 20,949 ​ 9,819 ​ — ​ ​ 78,059 ​ (1) 2024 special items reflect Rationalization and asset impairment net charges of $18,840 , an amortization of step up in value of acquired inventories of $4,776 and a pension settlement net charge of $4,205 . 2023 special items reflect amortization of step up in value of acquired inventories of $9,390 . 2022 special items reflect of $3,735 amortization of step up in value of acquired inventories of $1,106 . (2) 2024 special items reflect Rationalization and asset impairment net charges of $32,960 including the impact of the Company’s disposition of its Russian entity, a loss on asset disposal of $4,950 , an amortization of step up in value of acquired inventories of $250 and a pension settlement gain of $413 . 2023 special items reflect Rationalization and asset impairment net gains of $11,782, amortization of step up in value of acquired inventories of $2,862 , gain on asset disposal of $1,646 , and pension settlement charges of $845 2022 special items reflect Rationalization and asset impairment charges of $11,681. (3) 2024 special items reflect Rationalization and asset impairment net charges of $3,955 . (4) 2024 special items reflect transaction costs of $7,042 related to acquisitions as discussed in Note 4 to the consolidated financial statements. 2022 special items reflect transaction costs of $6,003 related acquisitions as discussed in Note 4 to the consolidated financial statements. (5) Other segment expenses primarily include: a. Selling, general and administrative expenses – including bonus and research and development expenses. b. Rationalization and asset impairment net charges – refer to Note 7 for further discussion.
Schedule of geographical split of the Company's net sales, based on the location of the customers, and property plant equipment	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended December 31, ​ 2024 2023 2022 Net sales: ​ ​ ​ United States ​ $ 2,355,262 ​ $ 2,398,560 ​ $ 2,128,457 Foreign countries ​ 1,653,408 ​ 1,793,076 ​ 1,632,754 Total ​ $ 4,008,670 ​ $ 4,191,636 ​ $ 3,761,211 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, ​ 2024 2023 2022 Property, plant and equipment, net: ​ ​ ​ United States ​ $ 344,533 ​ $ 293,172 ​ $ 267,654 Foreign countries ​ 274,648 ​ 282,144 ​ 277,217 Total ​ $ 619,181 ​ $ 575,316 ​ $ 544,871 ​

RATIONALIZATION AND ASSET IMP_2

RATIONALIZATION AND ASSET IMPAIRMENTS (Tables)	12 Months Ended
	Dec. 31, 2024
RATIONALIZATION AND ASSET IMPAIRMENTS
Summary of the activity related to the rationalization liabilities by segment	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ International ​ The Harris ​ ​ ​ Americas Welding Welding ​ Products Group Consolidated Balance at December 31, 2022 ​ $ — ​ $ 2,207 ​ $ — ​ $ 2,207 Payments and other adjustments ​ (468) ​ (6,747) ​ — ​ (7,215) Charged to expense ​ 468 ​ 19,626 ​ — ​ 20,094 Balance at December 31, 2023 ​ $ — ​ $ 15,086 ​ $ — ​ $ 15,086 Payments and other adjustments ​ (11,957) ​ (21,893) ​ (2,063) ​ (35,913) Charged to expense ​ 17,585 ​ 14,369 ​ 3,019 ​ 34,973 Balance at December 31, 2024 ​ $ 5,628 ​ $ 7,562 ​ $ 956 ​ $ 14,146 ​

ACCUMULATED OTHER COMPREHENSI_2

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) ("AOCI") (Tables)	12 Months Ended
	Dec. 31, 2024
ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) ("AOCI")
Schedule of changes in accumulated other comprehensive income (loss)	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Unrealized gain ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ (loss) on derivatives ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ designated and ​ Defined benefit ​ Currency ​ ​ ​ ​ ​ qualifying as cash ​ pension plan ​ translation ​ ​ ​ ​ ​ flow hedges ​ activity ​ adjustment ​ Total Balance at December 31, 2022 ​ $ 13,909 ​ $ (1,781) ​ $ (287,526) ​ $ (275,398) Other comprehensive income (loss) before reclassification ​ 7,049 ​ ​ (5,135) ​ ​ 43,139 ​ ​ 45,053 Amounts reclassified from AOCI ​ (4,422) ​ ​ 4,920 ​ ​ — ​ ​ 498 Net current-period other comprehensive income (loss) ​ 2,627 ​ (215) ​ 43,139 ​ 45,551 Balance at December 31, 2023 ​ $ 16,536 ​ $ (1,996) ​ $ (244,387) ​ $ (229,847) Other comprehensive income (loss) before reclassification ​ 1,831 ​ ​ (1,591) ​ ​ (71,955) ​ ​ (71,715) Amounts reclassified from AOCI ​ (1,112) ​ ​ 2,539 ​ ​ — ​ ​ 1,427 Net current-period other comprehensive income (loss) ​ 719 ​ 948 ​ (71,955) ​ (70,288) Balance at December 31, 2024 ​ $ 17,255 ​ $ (1,048) ​ $ (316,342) ​ $ (300,135) ​

DEBT (Tables)

DEBT (Tables)	12 Months Ended
	Dec. 31, 2024
DEBT
Schedule of debt	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, ​ ​ 2024 2023 Long-term debt Interest Rate ​ ​ Senior Unsecured Notes ​ ​ ​ ​ ​ ​ ​ ​ ​ 2015 Notes - Series A due August 20, 2025 ​ 3.15 % ​ $ 100,000 ​ $ 100,000 2015 Notes - Series B due August 20, 2030 ​ 3.35 % ​ ​ 100,000 ​ ​ 100,000 2015 Notes - Series C due April 1, 2035 ​ 3.61 % ​ ​ 50,000 ​ ​ 50,000 2015 Notes - Series D due April 1, 2045 ​ 4.02 % ​ ​ 100,000 ​ ​ 100,000 2016 Notes - Series A due October 20, 2028 ​ 2.75 % ​ ​ 100,000 ​ ​ 100,000 2016 Notes - Series B due October 20, 2033 ​ 3.03 % ​ ​ 100,000 ​ ​ 100,000 2016 Notes - Series C due October 20, 2037 ​ 3.27 % ​ ​ 100,000 ​ ​ 100,000 2016 Notes - Series D due October 20, 2041 ​ 3.52 % ​ ​ 50,000 ​ ​ 50,000 2024 Notes - Series A due August 22, 2029 ​ 5.55 % ​ ​ 75,000 ​ ​ — 2024 Notes - Series B due August 22, 2031 ​ 5.62 % ​ ​ 75,000 ​ ​ — 2024 Notes - Series C due June 20, 2034 ​ 5.74 % ​ ​ 400,000 ​ ​ — Term Loan due through 2025 ​ Variable (1) ​ ​ ​ — ​ ​ 400,000 Other borrowings due through 2030 ​ Variable (2) ​ ​ 10 ​ 9 ​ ​ ​ ​ ​ 1,250,010 ​ 1,100,009 Plus interest rate swap adjustment ​ ​ ​ ​ ​ 3,355 ​ ​ 4,036 Less current portion ​ ​ ​ ​ 100,004 ​ 4 Less debt issuance costs ​ ​ ​ ​ ​ 2,810 ​ 1,270 Long-term debt, less current portion ​ ​ ​ ​ 1,150,551 ​ 1,102,771 Short-term debt ​ ​ ​ ​ ​ ​ ​ ​ Amounts due banks ​ Variable (3) ​ ​ 10,520 ​ 2,435 Current portion long-term debt ​ ​ ​ ​ 100,004 ​ 4 Total short-term debt ​ ​ ​ ​ 110,524 ​ 2,439 Total debt ​ ​ ​ ​ $ 1,261,075 ​ $ 1,105,210 (1) Interest is calculated at the secured overnight finance rate (“SOFR”) plus a 0.85% margin. (2) Interest rate was 7.97% for both years ended December 31, 2024 and 2023. (3) Weighted average interest of Other borrowings related to liquidity needs in a hyperinflationary country was 47.8% in 2024 and 47.7% in 2023.

STOCK PLANS (Tables)

STOCK PLANS (Tables)	12 Months Ended
	Dec. 31, 2024
STOCK PLANS
Summary of stock option activity	The following table summarizes stock option activity for the year ended December 31, 2024 under all Plans: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted ​ ​ ​ ​ Average ​ ​ Number of ​ Exercise ​ Options Price Balance at beginning of year 919,619 ​ $ 108.85 Options granted 86,874 ​ 246.98 Options exercised (309,947) ​ 88.41 Balance at end of year 696,546 ​ 135.17 Exercisable at end of year 585,979 ​ 122.17
Weighted average assumptions used for estimating fair value of options granted	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 2024 2023 2022 Expected volatility ​ 26.90 % ​ 27.63 % ​ 27.14 % Dividend yield ​ 1.40 % ​ 1.59 % ​ 1.84 % Risk-free interest rate ​ 4.26 % ​ 4.04 % ​ 1.94 % Expected option life (years) ​ 4.8 ​ 4.8 ​ 4.7 ​ Weighted average fair value per option granted during the year ​ $ 66.20 ​ $ 46.94 ​ $ 27.42 ​
Summary of nonvested stock options	The following table summarizes non-vested stock options for the year ended December 31, 2024: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted Average ​ ​ Number of ​ Fair Value at ​ Options Grant Date Balance at beginning of year 248,455 ​ $ 28.36 Granted 86,874 ​ 66.20 Vested (224,762) ​ 37.28 Balance at end of year 110,567 ​ 53.42
Summary of information about awards outstanding, by exercise price range	The following table summarizes information about awards outstanding as of December 31, 2024: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Outstanding ​ Exercisable ​ ​ ​ ​ Weighted ​ Weighted ​ ​ ​ Weighted ​ Weighted ​ ​ Number of ​ Average ​ Average ​ Number of ​ Average ​ Average ​ ​ Stock ​ Exercise ​ Remaining ​ Stock ​ Exercise ​ Remaining Exercise Price Range Options Price Life (years) Options Price Life (years) Under $49.99 — ​ $ — — — ​ $ — — $50.00 - $59.99 14,665 ​ 58.17 1.10 14,665 ​ 58.17 1.10 Over $60.00 681,881 ​ 136.82 6.49 571,314 ​ 123.81 6.11 ​ 696,546 ​ ​ ​ 6.38 585,979 ​ ​ ​ 5.98
Summary of RSU and PSU activity	The following table summarizes RSU and PSU activity for the year ended December 31, 2024 under all Plans: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted ​ ​ ​ ​ Average ​ ​ Number of ​ Grant Date ​ Units Fair Value Balance at beginning of year 339,441 ​ $ 140.50 Units granted 127,810 ​ 205.67 Units vested (164,062) ​ 124.70 Units forfeited (9,771) ​ 171.97 Balance at end of year 293,418 ​ 176.70

RETIREMENT ANNUITY AND GUARAN_2

RETIREMENT ANNUITY AND GUARANTEED CONTINUOUS EMPLOYMENT PLANS (Tables)	12 Months Ended
	Dec. 31, 2024
RETIREMENT ANNUITY AND GUARANTEED CONTINUOUS EMPLOYMENT PLANS
Schedule of Obligations and Funded Status	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, ​ ​ 2024 ​ 2023 ​ ​ U.S. pension ​ Non-U.S. ​ U.S. pension ​ Non-U.S. ​ plans pension plans plans pension plans Change in benefit obligations ​ ​ ​ ​ Benefit obligations at beginning of year ​ $ 8,370 ​ $ 126,030 ​ $ 9,374 ​ $ 118,489 Service cost ​ 156 ​ ​ 1,014 ​ 166 ​ 955 Interest cost ​ 477 ​ ​ 3,785 ​ 466 ​ 4,867 Plan participants' contributions ​ — ​ ​ 42 ​ — ​ 48 Acquisitions & other adjustments ​ (897) ​ ​ (792) ​ (821) ​ 84 Actuarial (gain) loss ​ (244) ​ ​ 283 ​ 990 ​ 5,633 Benefits paid ​ — ​ ​ (6,634) ​ — ​ (7,265) Settlements/curtailments (1) ​ — ​ ​ (32,564) ​ (1,805) ​ (1,700) Currency translation ​ — ​ ​ (5,792) ​ — ​ 4,919 Benefit obligations at end of year ​ 7,862 ​ 85,372 ​ 8,370 ​ 126,030 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Change in plan assets ​ ​ ​ ​ ​ ​ ​ ​ Fair value of plan assets at beginning of year ​ — ​ 91,222 ​ — ​ 86,543 Actual return on plan assets ​ — ​ ​ (1,019) ​ — ​ 4,087 Employer contributions ​ — ​ ​ 2,545 ​ — ​ 2,080 Plan participants' contributions ​ — ​ ​ 42 ​ — ​ 48 Benefits paid ​ — ​ ​ (4,212) ​ — ​ (5,120) Settlements (1) ​ — ​ ​ (30,741) ​ — ​ (599) Currency translation ​ — ​ ​ (3,295) ​ — ​ 4,183 Fair value of plan assets at end of year ​ — ​ 54,542 ​ — ​ 91,222 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Funded status at end of year ​ (7,862) ​ (30,830) ​ (8,370) ​ (34,808) Unrecognized actuarial net loss ​ 1,988 ​ 2,370 ​ 2,387 ​ 3,070 Unrecognized prior service cost ​ — ​ (36) ​ — ​ (56) Unrecognized transition assets, net ​ — ​ 24 ​ — ​ 24 Net amount recognized ​ $ (5,874) ​ $ (28,472) ​ $ (5,983) ​ $ (31,770) ​ (1) Settlements in 2024 resulting from lump sum pension payments and the purchase of a group annuity contract related to the termination of a pension plan.
Schedule of Amounts Recognized in Consolidated Balance Sheets	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, ​ ​ 2024 ​ 2023 ​ ​ U.S. pension ​ Non-U.S. ​ U.S. pension ​ Non-U.S. ​ plans Pension plans plans pension plans Prepaid pensions (1) ​ $ — ​ $ 845 ​ $ — ​ $ 2,891 Accrued pension liability, current (2) ​ (1,003) ​ ​ (2,556) ​ (732) ​ ​ (95) Accrued pension liability, long-term (3) ​ (6,859) ​ ​ (29,119) ​ (7,638) ​ ​ (37,605) Accumulated other comprehensive loss, excluding tax effects ​ 1,988 ​ ​ 2,358 ​ 2,387 ​ ​ 3,039 Net amount recognized in the balance sheets ​ $ (5,874) ​ $ (28,472) ​ $ (5,983) ​ $ (31,770) ​ (1) Included in Other assets. (2) Included in Other current liabilities. (3) Included in Other liabilities.
Schedule of Components of Pension Cost for Defined Benefit Plans	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended December 31, ​ ​ ​ 2024 ​ 2023 ​ 2022 ​ ​ ​ U.S. pension ​ Non-U.S. ​ U.S. pension ​ Non-U.S. ​ U.S. pension ​ Non-U.S. ​ plans pension plans plans pension plans plans pension plans Service cost ​ ​ $ 156 ​ $ 1,014 ​ $ 166 ​ $ 955 ​ $ 199 ​ $ 1,077 Interest cost ​ ​ 477 ​ 3,785 ​ 466 ​ 4,867 ​ 262 ​ 2,644 Expected return on plan assets ​ ​ — ​ (2,574) ​ — ​ (3,839) ​ — ​ (3,525) Other adjustments ​ ​ ​ — ​ ​ — ​ ​ — ​ ​ 117 ​ ​ — ​ ​ — Amortization of prior service cost ​ ​ — ​ (7) ​ — ​ (8) ​ — ​ — Amortization of net loss (gain) ​ ​ 155 ​ (62) ​ 80 ​ (374) ​ 132 ​ 299 Settlement and curtailment charges (gains) (1) ​ ​ — ​ 3,818 ​ 256 ​ 949 ​ (3,735) ​ 367 Defined benefit plans ​ ​ $ 788 ​ $ 5,974 ​ $ 968 ​ $ 2,667 ​ $ (3,142) ​ $ 862 ​ (1) Settlements in 2024 resulting from lump sum pension payments and the purchase of a group annuity contract related to the termination of a pension plan. ​
Schedule of Pension Plans with Accumulated Benefit Obligations in Excess of Plan Assets	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, ​ ​ 2024 ​ 2023 ​ ​ U.S. pension ​ Non-U.S. ​ U.S. pension ​ Non-U.S. ​ plans pension plans plans pension plans Projected benefit obligation ​ $ 7,819 ​ $ 50,363 ​ $ 8,326 ​ $ 88,290 Accumulated benefit obligation ​ 7,424 ​ 47,867 ​ 8,002 ​ 86,317 Fair value of plan assets ​ — ​ 18,980 ​ — ​ 50,758
Schedule of Benefits expected to be paid for the Plans	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ U.S. pension ​ Non-U.S. ​ Plans pension plans Estimated Payments ​ ​ ​ ​ ​ ​ 2025 ​ $ 1,027 ​ $ 7,277 2026 ​ 1,015 ​ ​ 6,263 2027 ​ 998 ​ ​ 5,305 2028 ​ 906 ​ ​ 5,923 2029 ​ 887 ​ ​ 5,161 2030 through 2034 ​ 4,174 ​ ​ 30,196
Schedule of Weighted average assumptions used to measure the benefit obligations and net periodic benefit cost for the Company's significant defined benefit plans	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, ​ ​ 2024 ​ 2023 ​ ​ U.S. pension ​ Non-U.S. ​ U.S. pension ​ Non-U.S. ​ plans pension plans plans pension plans Discount Rate 4.8 % 4.0 % 6.0 % 3.9 % Rate of increase in compensation 3.0 % 5.6 % 3.0 % 4.8 % ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, ​ ​ 2024 ​ 2023 ​ 2022 ​ ​ U.S. pension ​ Non-U.S. ​ U.S. pension ​ Non-U.S. ​ U.S. pension ​ Non-U.S. ​ plans pension plans plans pension plans plans pension plans Discount rate 6.0 % 3.9 % 5.8 % 4.2 % 2.5 % 1.8 % Rate of increase in compensation 3.0 % 4.8 % 3.0 % 3.7 % 3.0 % 3.1 % Expected return on plan assets — ​ 3.8 % — ​ 4.4 % — % 3.4 %
Schedule of Pension plans' assets by level within the fair value hierarchy	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Pension Plans' Assets at Fair Value as of December 31, 2024 ​ ​ Quoted Prices in ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Active Markets ​ ​ ​ ​ Significant ​ ​ ​ ​ ​ for Identical ​ Significant Other ​ Unobservable ​ ​ ​ ​ ​ Assets ​ Observable Inputs ​ Inputs ​ ​ ​ ​ (Level 1) (Level 2) (Level 3) Total Cash and cash equivalents ​ $ 1,974 ​ $ — ​ $ — ​ $ 1,974 Fixed income securities (1) ​ ​ ​ ​ ​ ​ ​ ​ Corporate debt and other obligations ​ — ​ 6,063 ​ — ​ 6,063 Investments measured at NAV (2) ​ ​ ​ ​ ​ ​ ​ ​ Common trusts and 103-12 investments (3) ​ — ​ ​ — ​ ​ — ​ 46,505 Total investments at fair value ​ $ 1,974 ​ $ 6,063 ​ $ — ​ $ 54,542 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Pension Plans' Assets at Fair Value as of December 31, 2023 ​ ​ Quoted Prices in ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Active Markets ​ ​ ​ ​ Significant ​ ​ ​ ​ ​ for Identical ​ Significant Other ​ Unobservable ​ ​ ​ ​ ​ Assets ​ Observable Inputs ​ Inputs ​ ​ ​ ​ (Level 1) (Level 2) (Level 3) Total Cash and cash equivalents ​ $ 22,347 ​ $ — ​ $ — ​ $ 22,347 Fixed income securities (1) ​ ​ ​ ​ ​ ​ ​ ​ Corporate debt and other obligations ​ — ​ 5,894 ​ — ​ 5,894 Investments measured at NAV (2) ​ ​ ​ ​ ​ ​ ​ ​ Common trusts and 103-12 investments (3) ​ — ​ ​ — ​ ​ — ​ 62,981 Total investments at fair value ​ $ 22,347 ​ $ 5,894 ​ $ — ​ $ 91,222 ​ (1) Fixed income securities are primarily comprised of governmental and corporate bonds directly held by the plans. Governmental and corporate bonds are valued using both market observable inputs for similar assets that are traded on an active market and the closing price on the active market on which the individual securities are traded. (2) Certain assets that are measured at fair value using the net asset value ("NAV") practical expedient have not been classified in the fair value hierarchy. (3) Common trusts and 103-12 investments (collectively "Trusts") are comprised of a number of investment funds that invest in a diverse portfolio of assets including equity securities, corporate and governmental bonds, equity and credit indexes and money markets. Trusts are valued at the NAV as determined by their custodian. NAV represents the accumulation of the unadjusted quoted close prices on the reporting date for the underlying investments divided by the total shares outstanding at the reporting dates.

OTHER INCOME (Tables)

OTHER INCOME (Tables)	12 Months Ended
	Dec. 31, 2024
OTHER INCOME
Schedule of Other income	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended December 31, ​ ​ 2024 2023 2022 Equity earnings in affiliates ​ ​ ​ $ 235 $ 556 ​ $ (153) Other components of net periodic pension (cost) income (1) ​ ​ ​ (5,692) (2,573) ​ 3,556 Other income (2) ​ ​ ​ 5,930 15,405 ​ 6,588 Total Other income ​ ​ ​ $ 473 $ 13,388 ​ $ 9,991 ​ (1) Other components of net periodic pension (cost) income includes pension settlements and curtailments as discussed in Note 11. (2) In 2024, Other income primarily relates to non-recurring items such as the gain on termination of interest rate swaps, other non-operating gains and a loss on asset disposal. In 2023, Other income primarily related to non-recurring items such as royalty and other non-operating gains.

INCOME TAXES (Tables)

INCOME TAXES (Tables)	12 Months Ended
	Dec. 31, 2024
INCOME TAXES
Schedule of components of income before income taxes	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended December 31, ​ 2024 2023 2022 U.S. ​ $ 496,339 ​ $ 508,316 ​ $ 359,760 Non-U.S. ​ 97,810 ​ 178,550 ​ 233,067 Total ​ $ 594,149 ​ $ 686,866 ​ $ 592,827
Schedule of components of income tax expense (benefit)	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended December 31, ​ 2024 2023 2022 Current: ​ ​ ​ ​ Federal ​ $ 109,943 ​ $ 95,514 ​ $ 88,974 Non-U.S. ​ 37,997 ​ 45,830 ​ 55,664 State and local ​ 21,217 ​ 24,132 ​ 24,423 ​ ​ 169,157 ​ 165,476 ​ 169,061 Deferred: ​ ​ ​ ​ ​ ​ Federal ​ (31,178) ​ (13,068) ​ (38,462) Non-U.S. ​ (5,269) ​ (7,515) ​ (3,281) State and local ​ (4,669) ​ (3,275) ​ (6,715) ​ ​ (41,116) ​ (23,858) ​ (48,458) Total ​ $ 128,041 ​ $ 141,618 ​ $ 120,603
Schedule of differences between total income tax expense and the amount computed by applying the statutory federal income tax rate to income before income taxes	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended December 31, ​ 2024 2023 2022 Statutory rate applied to pre-tax income ​ $ 124,771 ​ $ 144,242 ​ $ 124,492 ​ State and local income taxes, net of federal tax benefit ​ 14,172 ​ 17,979 ​ 12,904 ​ Excess tax benefits resulting from exercises of stock-based compensation ​ (4,364) ​ (10,742) ​ (2,500) ​ Foreign derived intangible income deduction ​ (13,766) ​ (10,411) ​ (13,356) ​ Foreign rate variance ​ 9,312 ​ 6,854 ​ 5,020 ​ Research and development credit ​ (10,010) ​ (9,600) ​ (6,800) ​ Other ​ 7,926 ​ 3,296 ​ 843 ​ Total ​ $ 128,041 ​ $ 141,618 ​ $ 120,603 ​ Effective tax rate ​ 21.6 % 20.6 % 20.3 %
Schedule of significant components of deferred tax assets and liabilities	​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, ​ 2024 2023 Deferred tax assets: ​ ​ ​ Tax loss and credit carry-forwards ​ $ 43,417 ​ $ 45,319 Inventory ​ 1,555 ​ 2,941 Other accruals ​ 31,671 ​ 17,984 Research and development capitalization ​ ​ 86,697 ​ ​ 64,836 Employee benefits ​ 27,866 ​ 28,639 Pension obligations ​ 7,025 ​ 7,375 Other ​ 9,508 ​ 5,640 Deferred tax assets, gross ​ 207,739 ​ 172,734 Valuation allowance ​ (35,284) ​ (36,876) Deferred tax assets, net ​ 172,455 ​ 135,858 Deferred tax liabilities: ​ ​ ​ ​ Property, plant and equipment ​ 43,048 ​ 43,339 Intangible assets ​ 31,214 ​ 26,624 Inventory ​ 6,785 ​ 4,918 Pension and other benefit liabilities ​ 5,890 ​ 10,545 Other ​ 18,371 ​ 18,402 Deferred tax liabilities ​ 105,308 ​ 103,828 Total deferred taxes ​ $ 67,147 ​ $ 32,030
Schedule of activity related to unrecognized tax benefits	​ ​ ​ ​ ​ ​ ​ ​ ​ 2024 ​ 2023 Balance at beginning of year $ 12,592 $ 17,423 Increase related to current year tax provisions ​ 1,701 ​ 1,983 Decrease related to prior years' tax positions ​ (870) ​ (1,642) Decrease related to settlements with taxing authorities ​ — ​ (4,036) Resolution of and other decreases in prior years' tax liabilities ​ (1,982) ​ (1,380) Other ​ (554) ​ 244 Balance at end of year ​ $ 10,887 ​ $ 12,592

DERIVATIVES (Tables)

DERIVATIVES (Tables)	12 Months Ended
	Dec. 31, 2024
DERIVATIVES
Schedule of fair values of derivative instruments on the Company's Consolidated Balance Sheets	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, 2024 ​ December 31, 2023 ​ Other ​ Other ​ ​ ​ ​ ​ ​ ​ Other ​ Other ​ ​ ​ ​ ​ ​ ​ Current ​ Current ​ Other ​ Other ​ Current ​ Current ​ Other ​ Other Derivatives by hedge designation Assets Liabilities Assets Liabilities Assets Liabilities Assets Liabilities Designated as hedging instruments: ​ ​ ​ ​ ​ ​ ​ ​ Foreign exchange contracts $ 1,663 ​ $ 2,972 ​ $ — ​ $ — ​ $ 1,548 ​ $ 687 ​ $ — ​ $ — Interest rate swap agreements — ​ — ​ ​ — ​ ​ — ​ — ​ — ​ ​ 1,460 ​ ​ — Forward starting swap agreements ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ 20,377 ​ ​ — Net investment contracts ​ 10,276 ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ 3,351 ​ ​ — ​ ​ — Commodity contracts ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ 45 ​ ​ — ​ ​ — ​ ​ — Not designated as hedging instruments: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Foreign exchange contracts 1,560 ​ ​ 4,251 ​ ​ — ​ ​ — ​ 4,063 ​ ​ 623 ​ ​ — ​ ​ — Total derivatives $ 13,499 ​ $ 7,223 ​ $ — ​ $ — ​ $ 5,656 ​ $ 4,661 ​ $ 21,837 ​ $ —
Schedule of effects of undesignated derivative instruments on the Company's Consolidated Statements of Income	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended December 31, Derivatives by hedge designation Classification of (loss) gain 2024 2023 Not designated as hedges: ​ ​ ​ ​ Foreign exchange contracts ​ Selling, general & administrative expenses ​ $ (11,198) ​ $ 15,990
Schedule of effects of designated cash flow hedges on AOCI and the entity's Consolidated Statements of Income	​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, Total (loss) gain recognized in AOCI, net of tax 2024 2023 Foreign exchange contracts ​ $ (812) ​ $ 721 Interest rate swap agreements ​ ​ — ​ ​ 1,085 Forward starting swap agreements ​ ​ 18,067 ​ ​ 14,696 Net investment contracts ​ ​ 20,403 ​ ​ 7,136 Commodity contracts ​ — ​ 34 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year Ended December 31, ​ ​ Gain (loss) recognized in the ​ ​ ​ ​ ​ ​ Derivative type Consolidated Statements of Income: 2024 2023 Foreign exchange contracts Net Sales ​ $ (625) ​ $ 5,210 ​ Cost of goods sold ​ 494 ​ 590 Commodity contracts ​ Cost of goods sold ​ ​ 110 ​ 193 Forward starting swap agreements ​ Interest expense, net ​ ​ 1,394 ​ ​ — ​

FAIR VALUE (Tables)

FAIR VALUE (Tables)	12 Months Ended
	Dec. 31, 2024
FAIR VALUE
Schedule of assets and liabilities measured at fair value on a recurring basis	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Quoted Prices in ​ ​ ​ ​ ​ ​ ​ ​ ​ Active Markets for ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Identical Assets or ​ Significant Other ​ Significant ​ ​ Balance as of ​ Liabilities ​ Observable Inputs ​ Unobservable Description December 31, 2024 (Level 1) (Level 2) Inputs (Level 3) Assets: ​ ​ ​ ​ Foreign exchange contracts ​ $ 3,223 ​ $ — ​ $ 3,223 ​ $ — Net investment contracts ​ ​ 10,276 ​ ​ — ​ ​ 10,276 ​ ​ — Pension surplus ​ 27,059 ​ ​ 27,059 ​ ​ — ​ ​ — Total assets ​ $ 40,558 ​ $ 27,059 ​ $ 13,499 ​ $ — Liabilities: ​ ​ ​ ​ Foreign exchange contracts ​ $ 7,223 ​ $ — ​ $ 7,223 ​ $ — Deferred compensation ​ 55,425 ​ — ​ 55,425 ​ — Total liabilities ​ $ 62,648 ​ $ — ​ $ 62,648 ​ $ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Quoted Prices in ​ ​ ​ ​ ​ ​ ​ ​ ​ Active Markets for ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Identical Assets or ​ Significant Other ​ Significant ​ ​ Balance as of ​ Liabilities ​ Observable Inputs ​ Unobservable Description December 31, 2023 (Level 1) (Level 2) Inputs (Level 3) Assets: ​ ​ ​ ​ Foreign exchange contracts ​ $ 5,611 ​ $ — ​ $ 5,611 ​ $ — Interest rate swap agreements ​ 1,460 ​ — ​ 1,460 ​ — Commodity contracts ​ ​ 45 ​ ​ — ​ ​ 45 ​ ​ — Forward starting swap agreements ​ ​ 20,377 ​ ​ — ​ ​ 20,377 ​ ​ — Pension surplus ​ ​ 41,849 ​ ​ 41,849 ​ ​ — ​ ​ — Total assets ​ $ 69,342 ​ $ 41,849 ​ $ 27,493 ​ $ — Liabilities: ​ ​ ​ ​ Foreign exchange contracts ​ $ 1,310 ​ $ — ​ $ 1,310 ​ $ — Net investment contracts ​ 3,351 ​ — ​ 3,351 ​ — Deferred compensation ​ 53,628 ​ — ​ 53,628 ​ — Total liabilities ​ $ 58,289 ​ $ — ​ $ 58,289 ​ $ —

INVENTORY (Tables)

INVENTORY (Tables)	12 Months Ended
	Dec. 31, 2024
INVENTORY
Schedule of inventories	​ ​ ​ ​ ​ ​ ​ ​ ​ December 31, ​ 2024 2023 Raw materials ​ $ 153,596 ​ $ 160,809 Work-in-process ​ 123,406 ​ 125,756 Finished goods ​ 267,035 ​ 276,299 Total ​ $ 544,037 ​ $ 562,864

LEASES (Tables)

LEASES (Tables)	12 Months Ended
	Dec. 31, 2024
LEASES
Schedule of leases In balance sheet	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Operating Leases Balance Sheet Classification December 31, 2024 December 31, 2023 Right-of-use assets Other assets ​ $ 54,276 ​ $ 53,284 ​ ​ ​ ​ ​ ​ ​ ​ ​ Current liabilities Other current liabilities ​ $ 13,110 ​ $ 13,104 Noncurrent liabilities Other liabilities ​ 42,124 ​ 41,576 Total lease liabilities ​ $ 55,234 ​ $ 54,680
Schedule of future minimum lease payments	​ ​ ​ ​ ​ ​ December 31, 2024 2025 ​ $ 14,896 2026 ​ 12,336 2027 ​ 9,814 2028 ​ 8,069 2029 ​ 5,385 After 2029 ​ 11,442 Total lease payments ​ $ 61,942 Less: Imputed interest ​ 6,708 Operating lease liabilities ​ $ 55,234

SUPPLIER FINANCING PROGRAM (Tab

SUPPLIER FINANCING PROGRAM (Tables)	12 Months Ended
	Dec. 31, 2024
SUPPLIER FINANCING PROGRAM
Schedule of confirmed obligation rollforward	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Twelve Months Ended December 31, ​ 2024 2023 Confirmed obligations at beginning of the period ​ $ 29,111 ​ $ 33,475 Invoices confirmed during the period ​ 103,908 ​ 97,820 Confirmed invoices paid during the period ​ (103,855) ​ (102,184) Confirmed obligations outstanding at the end of the period ​ $ 29,164 ​ $ 29,111 ​

SIGNIFICANT ACCOUNTING POLICI_4

SIGNIFICANT ACCOUNTING POLICIES - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Jun. 30, 2022	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Significant accounting policies
Foreign currency transaction		$ 22,566
Percentage of net sales over time		10%
Maximum period for which derivative contracts cover currency and commodity exposures (in years)		3 years
Inventories
Percentage of LIFO Inventory		35%	37%	38%
Inventory valuation reserves		$ 31,072	$ 31,881
Research and Development
Research and development costs		81,821	71,235	$ 63,207
Bonus
Costs related to the Company's discretionary employee bonus programs		$ 166,554	$ 192,498	$ 159,281
TURKEY | Minimum
Significant accounting policies
Cumulative inflation rate over the preceding three-year period	100%

SIGNIFICANT ACCOUNTING POLICI_5

SIGNIFICANT ACCOUNTING POLICIES - Translation of Foreign Currencies (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
SIGNIFICANT ACCOUNTING POLICIES
Foreign currency transaction losses	$ (1,406)	$ 1,744	$ (3,633)

SIGNIFICANT ACCOUNTING POLICI_6

SIGNIFICANT ACCOUNTING POLICIES - Long-lived Assets (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Long-lived assets
Land	$ 64,016	$ 67,949
Buildings	445,319	445,041
Machinery and equipment	975,480	939,316
Property, Plant and Equipment, Gross	1,484,815	1,452,306
Accumulated depreciation	865,634	876,990
Total	$ 619,181	$ 575,316	$ 544,871
Operating leases
Lessee, Operating Lease, Existence of Option to Extend [true false]	true
Minimum
Operating leases
Lessee, Operating Lease, Renewal Term	1 year
Maximum
Operating leases
Lessee, Operating Lease, Renewal Term	11 years
Machinery, tools and equipment | Minimum
Long-lived assets
Useful life of property, plant and equipment	3 years
Machinery, tools and equipment | Maximum
Long-lived assets
Useful life of property, plant and equipment	20 years
Buildings | Maximum
Long-lived assets
Useful life of property, plant and equipment	40 years

REVENUE RECOGNITION - Narrative

REVENUE RECOGNITION - Narrative (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Percentage of net sales over time	10%
Unbilled contracts receivable	$ 81,781	$ 41,816
Advance Customer Payments
Contract with customer liability	63,473	40,063
Billings in Excess of Revenue Recognized
Contract with customer liability	$ 57,960	$ 52,422

REVENUE RECOGNITION - Disaggreg

REVENUE RECOGNITION - Disaggregation of Revenue (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Disaggregation of Revenue [Line Items]
Net sales (Note 2)	$ 4,008,670	$ 4,191,636	$ 3,761,211
Consumables
Disaggregation of Revenue [Line Items]
Net sales (Note 2)	2,088,721	2,212,314	2,183,019
Equipment
Disaggregation of Revenue [Line Items]
Net sales (Note 2)	$ 1,919,949	$ 1,979,322	$ 1,578,192

EARNINGS PER SHARE (Details)

EARNINGS PER SHARE (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Numerator:
Net income	$ 466,108	$ 545,248	$ 472,224
Denominator (shares in 000's):
Basic weighted average shares outstanding (in shares)	56,639	57,364	58,030
Effect of dilutive securities - Stock options and awards (in shares)	555	857	719
Diluted weighted average shares outstanding (in shares)	57,194	58,221	58,749
Basic earnings per share (in dollars per share)	$ 8.23	$ 9.50	$ 8.14
Diluted earnings per share (in dollars per share)	$ 8.15	$ 9.37	$ 8.04
Anti-dilutive shares excluded from the computation of diluted earnings per share	20,495	69,901	127,358

ACQUISITIONS - Narrative (Detai

ACQUISITIONS - Narrative (Details) - USD ($) $ in Thousands							12 Months Ended
	Jul. 30, 2024	Jun. 03, 2024	Apr. 01, 2024	May 03, 2023	Dec. 01, 2022	Mar. 01, 2022	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Acquisitions
Net purchase price, net of cash acquired							$ 252,746	$ 32,685	$ 436,298
Acquisition costs							7,042	0	6,003
Annual sales at the date of acquisition							$ 4,008,670	4,191,636	$ 3,761,211
Vanair
Acquisitions
Net purchase price, net of cash acquired and certain debt-like items	$ 109,993
Ownership purchased (as a percent)	100%
Annual sales at the date of acquisition								100,000
Inrotech
Acquisitions
Net purchase price, net of cash acquired		$ 42,352
Ownership purchased (as a percent)		100%
RedViking
Acquisitions
Net purchase price, net of cash acquired			$ 108,844
Ownership purchased (as a percent)			100%
Annual sales at the date of acquisition								$ 70,000
Powermig Automao e Soldagem Ltda.
Acquisitions
Net purchase price, net of cash acquired				$ 29,572
Ownership purchased (as a percent)				100%
Fori
Acquisitions
Cash purchase price					$ 427,000
Purchase price					468,683
Net purchase price, net of cash acquired					$ 416,353
Ownership purchased (as a percent)					100%
Kestra
Acquisitions
Net purchase price, net of cash acquired						$ 22,294
Ownership purchased (as a percent)						100%

ACQUISITIONS - Assets Acquired

ACQUISITIONS - Assets Acquired and Liabilities Assumed (Details) - USD ($) $ in Thousands		12 Months Ended
	Dec. 01, 2022	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Assets Acquired and Liabilities Assumed
Finite-lived intangible assets acquired		$ 69,477
Goodwill		804,927	$ 694,452	$ 665,257
Fori
Assets Acquired and Liabilities Assumed
Cash and cash equivalents	$ 52,330
Accounts receivable	64,439
Inventory	67,763
Property, plant and equipment	36,863
Intangible assets	69,350
Accounts payable	17,996
Net other assets and liabilities	195,934
Total purchase price consideration	468,683
Goodwill	244,325
Tradenames
Assets Acquired and Liabilities Assumed
Finite-lived intangible assets acquired		$ 17,977
Weighted average useful life		15 years
Tradenames | Fori
Assets Acquired and Liabilities Assumed
Finite-lived intangible assets acquired	$ 22,000
Weighted average useful life	15 years
Customer relationships
Assets Acquired and Liabilities Assumed
Finite-lived intangible assets acquired		$ 32,203
Weighted average useful life		14 years
Customer relationships | Fori
Assets Acquired and Liabilities Assumed
Finite-lived intangible assets acquired	$ 18,200
Weighted average useful life	15 years
Technology and know-how
Assets Acquired and Liabilities Assumed
Finite-lived intangible assets acquired		$ 17,222
Weighted average useful life		10 years
Technology and know-how | Fori
Assets Acquired and Liabilities Assumed
Finite-lived intangible assets acquired	$ 24,900
Weighted average useful life	10 years
Restrictive covenants | Fori
Assets Acquired and Liabilities Assumed
Finite-lived intangible assets acquired	$ 4,250
Weighted average useful life	4 years

GOODWILL AND INTANGIBLES - Chan

GOODWILL AND INTANGIBLES - Changes in Carrying Amount of Goodwill by Reportable Segment (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Changes in the carrying amount of goodwill by reportable segment
Balance at the beginning of the period	$ 694,452	$ 665,257
Additions and adjustments	135,084	20,212
Foreign currency translation	(24,609)	8,983
Balance at the end of the period	804,927	694,452
Americas Welding
Changes in the carrying amount of goodwill by reportable segment
Balance at the beginning of the period	497,600	492,187
Additions and adjustments	101,657	(2,899)
Foreign currency translation	(13,443)	8,312
Balance at the end of the period	585,814	497,600
International Welding
Changes in the carrying amount of goodwill by reportable segment
Balance at the beginning of the period	153,479	129,919
Additions and adjustments	33,427	23,111
Foreign currency translation	(10,644)	449
Balance at the end of the period	176,262	153,479
The Harris Products Group
Changes in the carrying amount of goodwill by reportable segment
Balance at the beginning of the period	43,373	43,151
Additions and adjustments	0	0
Foreign currency translation	(522)	222
Balance at the end of the period	$ 42,851	$ 43,373

GOODWILL AND INTANGIBLES - Gros

GOODWILL AND INTANGIBLES - Gross and Net Intangible Assets Other Than Goodwill (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Gross intangible assets other than goodwill by asset class
Finite-Lived Assets - Gross Amount	$ 446,943	$ 401,369
Finite-Lived Assets - Accumulated Amortization	242,146	230,740
Trademarks and trade names
Gross intangible assets other than goodwill by asset class
Finite-Lived Assets - Gross Amount	106,512	93,065
Finite-Lived Assets - Accumulated Amortization	55,078	52,510
Indefinite Lived Assets	16,208	16,038
Customer relationships
Gross intangible assets other than goodwill by asset class
Finite-Lived Assets - Gross Amount	192,196	171,338
Finite-Lived Assets - Accumulated Amortization	106,719	102,643
Technology and know-how
Gross intangible assets other than goodwill by asset class
Finite-Lived Assets - Gross Amount	82,019	68,365
Finite-Lived Assets - Accumulated Amortization	29,478	24,602
Patents
Gross intangible assets other than goodwill by asset class
Finite-Lived Assets - Gross Amount	23,901	25,150
Finite-Lived Assets - Accumulated Amortization	16,008	15,879
Other
Gross intangible assets other than goodwill by asset class
Finite-Lived Assets - Gross Amount	42,315	43,451
Finite-Lived Assets - Accumulated Amortization	$ 34,863	$ 35,106

GOODWILL AND INTANGIBLES - Narr

GOODWILL AND INTANGIBLES - Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
GOODWILL AND INTANGIBLES
Aggregate amortization expense	$ 27,075	$ 25,983	$ 21,908
Impairment of intangible assets		$ 1,564
Estimated annual amortization expense for intangible assets for each of the next five years
2025	27,172
2026	25,821
2027	24,936
2028	24,142
2029	$ 20,570

GOODWILL AND INTANGIBLES - Sche

GOODWILL AND INTANGIBLES - Schedule of Acquired Definite Lived Intangible Assets by Major Class (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2024 USD ($)
Acquired Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible assets acquired	$ 69,477
Trademarks and trade names
Acquired Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible assets acquired	$ 17,977
Weighted average useful life	15 years
Customer relationships
Acquired Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible assets acquired	$ 32,203
Weighted average useful life	14 years
Technology and know-how
Acquired Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible assets acquired	$ 17,222
Weighted average useful life	10 years
Other
Acquired Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible assets acquired	$ 2,075
Weighted average useful life	5 years

SEGMENT INFORMATION - Financial

SEGMENT INFORMATION - Financial Information of Reportable Segments (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2024 USD ($) segment	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)
Financial information for the reportable segments
Number of operating segments (segments) | segment	3
Net sales (Note 2)	$ 4,008,670	$ 4,191,636	$ 3,761,211
Cost of goods sold	2,535,758	2,726,191	2,480,451
Gross profit	1,472,912	1,465,445	1,280,760
Other segment expenses	835,977	734,208	658,433
EBIT	636,935	731,237	622,327
Special items charge (gain)	76,670	137	14,624
Adjusted EBIT	713,605	731,374	636,951
Special items charge (gain)	(76,670)	(137)	(14,624)
Interest income	10,130	6,762	1,607
Interest expense	(52,916)	(51,133)	(31,107)
Income before income taxes	594,149	686,866	592,827
Total assets	3,520,142	3,377,297	3,180,546
Capital expenditures	116,603	90,987	71,883
Depreciation and amortization	88,238	86,670	78,059
Rationalization and asset impairment net charges (Note 7)	55,860	(11,314)	11,788
Pension settlement net charges	3,792	0	0
Acquisition costs	7,042	0	6,003
Inter-segment
Financial information for the reportable segments
Net sales (Note 2)	(183,940)	(169,675)	(164,562)
Corporate/Eliminations
Financial information for the reportable segments
Net sales (Note 2)	(183,940)	(169,675)	(164,562)
Cost of goods sold	(181,530)	(168,389)	(163,664)
Gross profit	(2,410)	(1,286)	(898)
Other segment expenses	15,765	16,250	15,138
EBIT	(18,175)	(17,536)	(16,036)
Special items charge (gain)	7,147		6,003
Adjusted EBIT	(11,028)	(17,536)	(10,033)
Special items charge (gain)	(7,147)		(6,003)
Total assets	(293,241)	(375,272)	(299,077)
Capital expenditures	117	117
Depreciation and amortization	(604)	(785)
Acquisition costs	7,042		6,003
Americas Welding
Financial information for the reportable segments
Net sales (Note 2)	2,564,847	2,655,546	2,288,934
Rationalization and asset impairment net charges (Note 7)	18,840	468	(431)
Pension settlement net charges	4,205		(3,735)
Business combination, inventory step up	4,776	9,390	1,106
Americas Welding | Operating Segments
Financial information for the reportable segments
Net sales (Note 2)	2,700,605	2,783,082	2,410,953
Cost of goods sold	1,638,568	1,739,850	1,514,203
Gross profit	1,062,037	1,043,232	896,750
Other segment expenses	559,670	514,821	430,871
EBIT	502,367	528,411	465,879
Special items charge (gain)	27,821	9,858	(3,060)
Adjusted EBIT	530,188	538,269	462,819
Special items charge (gain)	(27,821)	(9,858)	3,060
Total assets	2,416,411	2,365,737	2,122,729
Capital expenditures	94,528	61,752	43,003
Depreciation and amortization	57,016	55,821	47,291
Americas Welding | Inter-segment
Financial information for the reportable segments
Net sales (Note 2)	135,758	127,536	122,019
International Welding
Financial information for the reportable segments
Net sales (Note 2)	933,722	1,040,006	954,281
Rationalization and asset impairment net charges (Note 7)	32,960	(11,782)	11,681
Pension settlement net charges	(413)	845
Business combination, inventory step up	250	2,862
Gain (loss) on disposition of assets	(4,950)	1,646
International Welding | Operating Segments
Financial information for the reportable segments
Net sales (Note 2)	969,583	1,071,504	985,784
Cost of goods sold	700,428	776,982	719,051
Gross profit	269,155	294,522	266,733
Other segment expenses	200,785	148,304	158,257
EBIT	68,370	146,218	108,476
Special items charge (gain)	37,747	(9,721)	11,681
Adjusted EBIT	106,117	136,497	120,157
Special items charge (gain)	(37,747)	9,721	(11,681)
Total assets	1,050,327	1,046,369	994,905
Capital expenditures	17,814	20,568	17,955
Depreciation and amortization	21,735	22,023	20,949
International Welding | Inter-segment
Financial information for the reportable segments
Net sales (Note 2)	35,861	31,498	31,503
The Harris Products Group
Financial information for the reportable segments
Net sales (Note 2)	510,101	496,084	517,996
Rationalization and asset impairment net charges (Note 7)	3,955
The Harris Products Group | Operating Segments
Financial information for the reportable segments
Net sales (Note 2)	522,422	506,725	529,036
Cost of goods sold	378,292	377,748	410,861
Gross profit	144,130	128,977	118,175
Other segment expenses	59,757	54,833	54,167
EBIT	84,373	74,144	64,008
Special items charge (gain)	3,955
Adjusted EBIT	88,328	74,144	64,008
Special items charge (gain)	(3,955)
Total assets	346,645	340,463	361,989
Capital expenditures	4,144	8,550	10,925
Depreciation and amortization	10,091	9,611	9,819
The Harris Products Group | Inter-segment
Financial information for the reportable segments
Net sales (Note 2)	$ 12,321	$ 10,641	$ 11,040

SEGMENT INFORMATION - Narrative

SEGMENT INFORMATION - Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
United States
Financial information for the reportable segments
Export sales (excluding inter-company sales)	$ 244,334	$ 238,704	$ 173,033

SEGMENT INFORMATION - Geographi

SEGMENT INFORMATION - Geographic Split of Net Sales and Property, Plant and Equipment (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Geographic split of the Company's net sales, based on the location of the customer, and property, plant and equipment
Net sales (Note 2)	$ 4,008,670	$ 4,191,636	$ 3,761,211
Property, plant and equipment, net	$ 619,181	$ 575,316	$ 544,871
Percentage of LIFO Inventory	35%	37%	38%
United States
Geographic split of the Company's net sales, based on the location of the customer, and property, plant and equipment
Net sales (Note 2)	$ 2,355,262	$ 2,398,560	$ 2,128,457
Property, plant and equipment, net	344,533	293,172	267,654
Foreign countries
Geographic split of the Company's net sales, based on the location of the customer, and property, plant and equipment
Net sales (Note 2)	1,653,408	1,793,076	1,632,754
Property, plant and equipment, net	$ 274,648	$ 282,144	$ 277,217

RATIONALIZATION AND ASSET IMP_3

RATIONALIZATION AND ASSET IMPAIRMENTS - Summary of Activity Related to Rationalization Liabilities by Segment (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Activity related to the rationalization liabilities by segment
Balance at the beginning of the period	$ 15,086	$ 2,207
Payments and other adjustments	(35,913)	(7,215)
Charged to expense	34,973	20,094
Balance at the end of the period	14,146	15,086
Americas Welding
Activity related to the rationalization liabilities by segment
Balance at the beginning of the period	0	0
Payments and other adjustments	(11,957)	(468)
Charged to expense	17,585	468
Balance at the end of the period	5,628	0
International Welding
Activity related to the rationalization liabilities by segment
Balance at the beginning of the period	15,086	2,207
Payments and other adjustments	(21,893)	(6,747)
Charged to expense	14,369	19,626
Balance at the end of the period	7,562	15,086
The Harris Products Group
Activity related to the rationalization liabilities by segment
Balance at the beginning of the period	0	0
Payments and other adjustments	(2,063)	0
Charged to expense	3,019	0
Balance at the end of the period	$ 956	$ 0

RATIONALIZATION AND ASSET IMP_4

RATIONALIZATION AND ASSET IMPAIRMENTS (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Restructuring Cost and Reserve [Line Items]
Rationalization and asset impairment net charges (Note 7)	$ 55,860	$ (11,314)	$ 11,788
Restructuring liability	14,146	15,086	2,207
International Welding
Restructuring Cost and Reserve [Line Items]
Rationalization and asset impairment net charges (Note 7)	32,960	(11,782)	11,681
Restructuring liability	7,562	15,086	2,207
International Welding | RUSSIAN FEDERATION
Restructuring Cost and Reserve [Line Items]
Rationalization and asset impairment net charges (Note 7)	22,566
The Harris Products Group
Restructuring Cost and Reserve [Line Items]
Rationalization and asset impairment net charges (Note 7)	3,955
Restructuring liability	956	0	0
Americas Welding
Restructuring Cost and Reserve [Line Items]
Rationalization and asset impairment net charges (Note 7)	18,840	468	(431)
Restructuring liability	$ 5,628	$ 0	$ 0

ACCUMULATED OTHER COMPREHENSI_3

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) ("AOCI") (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Accumulated other comprehensive (loss) income
Beginning Balance	$ 1,308,852	$ 1,034,041
Ending Balance	1,327,433	1,308,852
Accumulated Other Comprehensive Income (Loss)
Accumulated other comprehensive (loss) income
Beginning Balance	(229,847)	(275,398)
Other comprehensive income (loss) before reclassification	(71,715)	45,053
Amounts reclassified from AOCI	1,427	498
Net current-period other comprehensive income (loss)	(70,288)	45,551
Ending Balance	(300,135)	(229,847)
Unrealized gain (loss) on derivatives designated and qualifying as cash flow hedges
Accumulated other comprehensive (loss) income
Beginning Balance	16,536	13,909
Other comprehensive income (loss) before reclassification	1,831	7,049
Amounts reclassified from AOCI	(1,112)	(4,422)
Net current-period other comprehensive income (loss)	719	2,627
Ending Balance	17,255	16,536
Defined benefit pension plan activity
Accumulated other comprehensive (loss) income
Beginning Balance	(1,996)	(1,781)
Other comprehensive income (loss) before reclassification	(1,591)	(5,135)
Amounts reclassified from AOCI	2,539	4,920
Net current-period other comprehensive income (loss)	948	(215)
Ending Balance	(1,048)	(1,996)
Currency translation adjustment
Accumulated other comprehensive (loss) income
Beginning Balance	(244,387)	(287,526)
Other comprehensive income (loss) before reclassification	(71,955)	43,139
Amounts reclassified from AOCI	0	0
Net current-period other comprehensive income (loss)	(71,955)	43,139
Ending Balance	$ (316,342)	$ (244,387)

DEBT - Schedule of Debt (Detail

DEBT - Schedule of Debt (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Aug. 22, 2024	Jun. 20, 2024	Dec. 31, 2023
Long-term debt
Carrying value of long-term debt	$ 1,250,010			$ 1,100,009
Interest Rate Swap Adjustment	3,355			4,036
Less current portion	100,004			4
Less debt issuance costs	2,810			1,270
Long-term debt, less current portion (Note 9)	1,150,551			1,102,771
Short-term debt
Amounts due banks (Note 9)	10,520			2,435
Current portion of long-term debt (Note 9)	100,004			4
Total short-term debt	$ 110,524			$ 2,439
Weighted average interest rates of borrowings (as a percent)	47.80%			47.70%
Total debt	$ 1,261,075			$ 1,105,210
SOFR
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate	0.85%
Senior Notes 2015
Debt Instrument [Line Items]
Face amount of loan	$ 350,000
Term Loan due through 2025
Long-term debt
Carrying value of long-term debt				400,000
Other borrowings due through 2030
Long-term debt
Carrying value of long-term debt	$ 10			$ 9
Interest rate	7.97%			7.97%
Senior Notes 2016
Debt Instrument [Line Items]
Face amount of loan	$ 350,000
Senior Notes Series A
Debt Instrument [Line Items]
Face amount of loan		$ 75,000
Senior Notes Series A | Senior Notes 2015
Debt Instrument [Line Items]
Debt instrument, interest rate, stated percentage	3.15%			3.15%
Long-term debt
Carrying value of long-term debt	$ 100,000			$ 100,000
Senior Notes Series A | Senior Notes 2016
Debt Instrument [Line Items]
Debt instrument, interest rate, stated percentage	2.75%			2.75%
Long-term debt
Carrying value of long-term debt	$ 100,000			$ 100,000
Senior Notes Series A | Senior Notes 2024
Debt Instrument [Line Items]
Debt instrument, interest rate, stated percentage	5.55%
Long-term debt
Carrying value of long-term debt	$ 75,000
Senior Notes Series B
Debt Instrument [Line Items]
Face amount of loan		$ 75,000
Senior Notes Series B | Senior Notes 2015
Debt Instrument [Line Items]
Debt instrument, interest rate, stated percentage	3.35%			3.35%
Long-term debt
Carrying value of long-term debt	$ 100,000			$ 100,000
Senior Notes Series B | Senior Notes 2016
Debt Instrument [Line Items]
Debt instrument, interest rate, stated percentage	3.03%			3.03%
Long-term debt
Carrying value of long-term debt	$ 100,000			$ 100,000
Senior Notes Series B | Senior Notes 2024
Debt Instrument [Line Items]
Debt instrument, interest rate, stated percentage	5.62%
Long-term debt
Carrying value of long-term debt	$ 75,000
Senior Notes Series C
Debt Instrument [Line Items]
Face amount of loan			$ 400,000
Senior Notes Series C | Senior Notes 2015
Debt Instrument [Line Items]
Debt instrument, interest rate, stated percentage	3.61%			3.61%
Long-term debt
Carrying value of long-term debt	$ 50,000			$ 50,000
Senior Notes Series C | Senior Notes 2016
Debt Instrument [Line Items]
Debt instrument, interest rate, stated percentage	3.27%			3.27%
Long-term debt
Carrying value of long-term debt	$ 100,000			$ 100,000
Senior Notes Series C | Senior Notes 2024
Debt Instrument [Line Items]
Debt instrument, interest rate, stated percentage	5.74%
Long-term debt
Carrying value of long-term debt	$ 400,000
Senior Notes Series D | Senior Notes 2015
Debt Instrument [Line Items]
Debt instrument, interest rate, stated percentage	4.02%			4.02%
Long-term debt
Carrying value of long-term debt	$ 100,000			$ 100,000
Senior Notes Series D | Senior Notes 2016
Debt Instrument [Line Items]
Debt instrument, interest rate, stated percentage	3.52%			3.52%
Long-term debt
Carrying value of long-term debt	$ 50,000			$ 50,000

DEBT - Term Loan (Details)

DEBT - Term Loan (Details) - USD ($) $ in Thousands	1 Months Ended	12 Months Ended
	Jun. 30, 2024	Dec. 31, 2024	Dec. 31, 2023	Nov. 29, 2022
Debt Instrument [Line Items]
Fair value of long-term debt		$ 1,184,313	$ 1,013,795
Carrying value of long-term debt		$ 1,250,555	$ 1,102,771
SOFR
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate		0.85%
Term Loan
Debt Instrument [Line Items]
Face amount of loan				$ 400,000
Gain on termination of long-term contracts	$ 2,428

DEBT - Revolving Credit Agreeme

DEBT - Revolving Credit Agreement (Details) - USD ($) $ in Thousands		12 Months Ended
	Jun. 20, 2024	Dec. 31, 2024	Jun. 19, 2024
Debt Instrument [Line Items]
Credit facility covenant compliance		As of December 31, 2024, the Company was in compliance with all of its covenants
SOFR
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate		0.85%
Revolving credit agreement
Debt Instrument [Line Items]
Borrowing capacity under the line of credit	$ 1,000,000		$ 500,000
Additional increase in borrowing capacity of the line of credit available at the entity's option	$ 300,000
Net leverage ratio	3.5
Interest coverage ratio	2.5
Line of credit, current		$ 0
Revolving credit agreement | Minimum
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate	1.10%
Revolving credit agreement | Maximum
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate	1.60%
Other Lines of Credit and Debt Agreements
Debt Instrument [Line Items]
Borrowing capacity under the line of credit		45,608
Line of credit, current		$ 10,520

DEBT (Senior Unsecured Notes) (

DEBT (Senior Unsecured Notes) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Aug. 22, 2024	Jun. 20, 2024	Dec. 31, 2023
Senior Notes 2015
Debt Instrument [Line Items]
Face amount of loan	$ 350,000
Senior Notes 2016
Debt Instrument [Line Items]
Face amount of loan	$ 350,000
Senior Unsecured Notes
Debt Instrument [Line Items]
Total amount available			$ 550,000
Debt instrument, covenant compliance	As of December 31, 2024, the Company was in compliance with all of its debt covenants relating to the senior unsecured notes.
Weighted average interest rate, including impact of derivatives	4.10%
Senior Unsecured Notes | Weighted Average
Debt Instrument [Line Items]
Debt instrument term, including impact of derivatives	8 years 10 months 24 days
Senior Notes Series A
Debt Instrument [Line Items]
Face amount of loan		$ 75,000
Senior Notes Series A | Senior Notes 2015
Debt Instrument [Line Items]
Debt instrument, interest rate, stated percentage	3.15%			3.15%
Senior Notes Series A | Senior Notes 2016
Debt Instrument [Line Items]
Debt instrument, interest rate, stated percentage	2.75%			2.75%
Senior Notes Series B
Debt Instrument [Line Items]
Face amount of loan		$ 75,000
Senior Notes Series B | Senior Notes 2015
Debt Instrument [Line Items]
Debt instrument, interest rate, stated percentage	3.35%			3.35%
Senior Notes Series B | Senior Notes 2016
Debt Instrument [Line Items]
Debt instrument, interest rate, stated percentage	3.03%			3.03%
Senior Notes Series C
Debt Instrument [Line Items]
Face amount of loan			$ 400,000
Senior Notes Series C | Senior Notes 2015
Debt Instrument [Line Items]
Debt instrument, interest rate, stated percentage	3.61%			3.61%
Senior Notes Series C | Senior Notes 2016
Debt Instrument [Line Items]
Debt instrument, interest rate, stated percentage	3.27%			3.27%
Senior Notes Series D | Senior Notes 2015
Debt Instrument [Line Items]
Debt instrument, interest rate, stated percentage	4.02%			4.02%
Senior Notes Series D | Senior Notes 2016
Debt Instrument [Line Items]
Debt instrument, interest rate, stated percentage	3.52%			3.52%

DEBT - Narrative (Details)

DEBT - Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Long-term Debt, Fiscal Year Maturity [Abstract]
2025	$ 110,524
2026	5
2027	0
2028	100,000
2029	75,000
Thereafter	975,000
Total interest paid	$ 51,264	$ 49,366	$ 30,873

STOCK PLANS - Summary of Stock

STOCK PLANS - Summary of Stock Option Activity (Details) - Stock options	12 Months Ended
	Dec. 31, 2024 $ / shares shares
Stock Options, Shares
Balance at beginning of year | shares	919,619
Options granted (in shares) | shares	86,874
Options exercised | shares	(309,947)
Balance at end of year | shares	696,546
Exercisable at end of year | shares	585,979
Stock Options, Weighted Average Exercise Price
Balance at beginning of year, weighted average exercise price (in dollars per share) | $ / shares	$ 108.85
Shares granted, weighted average exercise price (in dollars per share) | $ / shares	246.98
Shares exercised, weighted average exercise price (in dollars per share) | $ / shares	88.41
Balance at end of year, weighted average exercise price (in dollars per share) | $ / shares	135.17
Exercisable at end of year, weighted average exercise price (in dollars per share) | $ / shares	$ 122.17

STOCK PLANS - Stock Option Weig

STOCK PLANS - Stock Option Weighted Average Assumptions (Details) - Stock options - $ / shares	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Stock Plans
Expected volatility	26.90%	27.63%	27.14%
Dividend yield	1.40%	1.59%	1.84%
Risk-free interest rate	4.26%	4.04%	1.94%
Expected option life (in years)	4 years 9 months 18 days	4 years 9 months 18 days	4 years 8 months 12 days
Weighted average fair value per option granted during the year	$ 66.20	$ 46.94	$ 27.42

STOCK PLANS - Non-Vested Stock

STOCK PLANS - Non-Vested Stock Option Activity (Details) - Stock options - $ / shares	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Stock Plans
Balance at beginning of year, Nonvested Options (in shares)	248,455
Options granted (in shares)	86,874
Vested (in shares)	(224,762)
Balance at end of year, Nonvested Options (in shares)	110,567	248,455
Nonvested stock options, Weighted Average Fair Value at Grant Date
Balance at beginning of year, weighted average fair value at grant date (in dollars per share)	$ 28.36
Granted, weighted average fair value at grant date (in dollars per share)	66.20	$ 46.94	$ 27.42
Vested, weighted average fair value at grant date (in dollars per share)	37.28
Balance at end of year, weighted average fair value at grant date (in dollars per share)	$ 53.42	$ 28.36

STOCK PLANS - Summary of Stoc_2

STOCK PLANS - Summary of Stock Options by Exercise Price Range (Details)	12 Months Ended
	Dec. 31, 2024 $ / shares shares
Information about awards outstanding
Weighted Average Remaining Life (in years)	6 years 4 months 17 days
Exercisable
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Weighted Average Remaining Contractual Term	5 years 11 months 23 days
Exercise Price Range 2
Information about awards outstanding
Weighted Average Remaining Life (in years)	1 year 1 month 6 days
Exercisable
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Weighted Average Remaining Contractual Term	1 year 1 month 6 days
Exercise Price Range 3
Information about awards outstanding
Weighted Average Remaining Life (in years)	6 years 5 months 26 days
Exercisable
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Weighted Average Remaining Contractual Term	6 years 1 month 9 days
Stock options
Outstanding
Options Outstanding, Number of Stock Options (in shares) | shares	696,546
Exercisable
Options Exercisable, Number of Stock Options (in shares) | shares	585,979
Stock options | Exercise Price Range 1
Information about awards outstanding
Exercise price, high end of range (in dollars per share)	$ 49.99
Outstanding
Options Outstanding, Number of Stock Options (in shares) | shares	0
Options Outstanding, Weighted Average Exercise Price (in dollars per share)	$ 0
Exercisable
Options Exercisable, Number of Stock Options (in shares) | shares	0
Options Exercisable, Weighted Average Exercise Price (in dollars per share)	$ 0
Stock options | Exercise Price Range 2
Information about awards outstanding
Exercise price, low end of range (in dollars per share)	50
Exercise price, high end of range (in dollars per share)	$ 59.99
Outstanding
Options Outstanding, Number of Stock Options (in shares) | shares	14,665
Options Outstanding, Weighted Average Exercise Price (in dollars per share)	$ 58.17
Exercisable
Options Exercisable, Number of Stock Options (in shares) | shares	14,665
Options Exercisable, Weighted Average Exercise Price (in dollars per share)	$ 58.17
Stock options | Exercise Price Range 3
Information about awards outstanding
Exercise price, low end of range (in dollars per share)	$ 60
Outstanding
Options Outstanding, Number of Stock Options (in shares) | shares	681,881
Options Outstanding, Weighted Average Exercise Price (in dollars per share)	$ 136.82
Exercisable
Options Exercisable, Number of Stock Options (in shares) | shares	571,314
Options Exercisable, Weighted Average Exercise Price (in dollars per share)	$ 123.81

STOCK PLANS - RSUs and PSUs (De

STOCK PLANS - RSUs and PSUs (Details) - RSU and PSU	12 Months Ended
	Dec. 31, 2024 $ / shares shares
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Balance at beginning of year (in shares) | shares	339,441
Shares granted | shares	127,810
Shares vested (in shares) | shares	(164,062)
Shares forfeited | shares	(9,771)
Balance at end of year (in shares) | shares	293,418
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Roll Forward]
Balance at beginning of year, weighted average grant date fair value (in dollars per share) | $ / shares	$ 140.50
Shares granted, weighted average grant date fair value (in dollars per share) | $ / shares	205.67
Shares vested, weighted average grant date fair value (in dollars per share) | $ / shares	124.70
Shares forfeited, weighted average grant date fair value (in dollars per share) | $ / shares	171.97
Balance at end of year, weighted average grant date fair value (in dollars per share) | $ / shares	$ 176.70

STOCK PLANS - Narrative (Detail

STOCK PLANS - Narrative (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022	Apr. 19, 2023
Stock Plans
Common shares available for future grant under all plans (in shares)	1,997,299
Total stock-based compensation expense	$ 24,000	$ 26,223	$ 25,276
Tax benefit related to stock-based compensation recognized in the period	6,009	6,711	6,363
Total unrecognized stock-based compensation expense related to nonvested stock options, restricted shares and restricted stock units	$ 18,839
Weighted average period of recognition of unrecognized stock-based compensation expense (in months)	1 year 9 months 18 days
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested in Period, Fair Value	$ 8,367	3,684	3,086
Stock options
Stock Plans
Award expiration (in years)	10 years
Award vesting period (in years)	3 years
Aggregate intrinsic value of awards outstanding	$ 41,719
Aggregate intrinsic value of awards exercisable	40,181
Total intrinsic value of awards exercised	$ 47,929	$ 35,414	$ 7,082
Restricted Stock Units
Stock Plans
Remaining weighted average life of non-vested restricted awards (in years)	1 year 10 months 24 days
Performance Shares [Member]
Stock Plans
Award vesting period (in years)	3 years
Shares granted	53,686
Shares granted (in dollars per share)	$ 179.73
Remaining weighted average life of non-vested restricted awards (in years)	1 year 8 months 12 days
RSU and PSU
Stock Plans
Shares granted	127,810
Shares granted (in dollars per share)	$ 205.67
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number	293,418	339,441
1995 Lincoln Stock Purchase Plan
Stock Plans
Maximum additional number of the Company's common shares that may be granted (in shares)	800,000
Shares purchased (in shares)	0	0	0
2023 Employee Plan
Stock Plans
Maximum additional number of the Company's common shares that may be granted (in shares)				2,025,000
2023 Employee Plan | Restricted Stock Units
Stock Plans
Shares granted	74,124
2023 Employee Plan | Performance Shares [Member]
Stock Plans
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number	74,449
2023 Director Plan
Stock Plans
Maximum additional number of the Company's common shares that may be granted (in shares)				200,000
2005 Plan | RSU and PSU
Stock Plans
Deferred RSUs and PSUs (in shares)	15,253
Deferred RSUs (in shares)	93,273
Minimum | Restricted Stock Units
Stock Plans
Award vesting period (in years)	3 years
Maximum | 1995 Lincoln Stock Purchase Plan
Stock Plans
Dollar value of shares that each employee has the ability to purchase on the open market, on a commission-free basis annually under the plan	$ 10

RETIREMENT ANNUITY AND GUARAN_3

RETIREMENT ANNUITY AND GUARANTEED CONTINUOUS EMPLOYMENT PLANS - Obligations and Funded Status (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Change in plan assets
Balance at the beginning of year	$ 91,222
Balance at the end of year	54,542	$ 91,222
U.S pension plans
Change in benefit obligations
Benefit obligations at beginning of year	8,370	9,374
Service cost	156	166	$ 199
Interest cost	477	466	262
Plan participants' contributions	0	0
Acquisitions & other adjustments	(897)	(821)
Actuarial (gain) loss	(244)	990
Benefits paid	0	0
Settlements/curtailments	0	(1,805)
Currency translation	0	0
Benefit obligations at end of year	7,862	8,370	9,374
Change in plan assets
Balance at the beginning of year	0	0
Actual return on plan assets	0	0
Employer contributions	0	0
Plan participants' contributions	0	0
Benefits paid	0	0
Settlements	0	0
Currency translation	0	0
Balance at the end of year	0	0	0
Net amount recognized
Funded status at end of year	(7,862)	(8,370)
Unrecognized actuarial net loss	1,988	2,387
Unrecognized prior service cost	0	0
Unrecognized transition assets, net	0	0
Net amount recognized in the balance sheets	(5,874)	(5,983)
Non-U.S. pension plans.
Change in benefit obligations
Benefit obligations at beginning of year	126,030	118,489
Service cost	1,014	955	1,077
Interest cost	3,785	4,867	2,644
Plan participants' contributions	42	48
Acquisitions & other adjustments	(792)	84
Actuarial (gain) loss	283	5,633
Benefits paid	(6,634)	(7,265)
Settlements/curtailments	(32,564)	(1,700)
Currency translation	(5,792)	4,919
Benefit obligations at end of year	85,372	126,030	118,489
Change in plan assets
Balance at the beginning of year	91,222	86,543
Actual return on plan assets	(1,019)	4,087
Employer contributions	2,545	2,080
Plan participants' contributions	42	48
Benefits paid	(4,212)	(5,120)
Settlements	(30,741)	(599)
Currency translation	(3,295)	4,183
Balance at the end of year	54,542	91,222	$ 86,543
Net amount recognized
Funded status at end of year	(30,830)	(34,808)
Unrecognized actuarial net loss	2,370	3,070
Unrecognized prior service cost	(36)	(56)
Unrecognized transition assets, net	24	24
Net amount recognized in the balance sheets	$ (28,472)	$ (31,770)

RETIREMENT ANNUITY AND GUARAN_4

RETIREMENT ANNUITY AND GUARANTEED CONTINUOUS EMPLOYMENT PLANS - Amounts Recognized in Consolidated Balance Sheets (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
U.S pension plans
Retirement Annuity and Guaranteed Continuous Employment Plans
Assets for Plan Benefits, Defined Benefit Plan	$ 0	$ 0
Accrued pension liability, current	(1,003)	(732)
Accrued pension liability, long-term	(6,859)	(7,638)
Accumulated other comprehensive loss, excluding tax effects	1,988	2,387
Net amount recognized in the balance sheets	(5,874)	(5,983)
Non-U.S. pension plans.
Retirement Annuity and Guaranteed Continuous Employment Plans
Assets for Plan Benefits, Defined Benefit Plan	845	2,891
Accrued pension liability, current	(2,556)	(95)
Accrued pension liability, long-term	(29,119)	(37,605)
Accumulated other comprehensive loss, excluding tax effects	2,358	3,039
Net amount recognized in the balance sheets	$ (28,472)	$ (31,770)

RETIREMENT ANNUITY AND GUARAN_5

RETIREMENT ANNUITY AND GUARANTEED CONTINUOUS EMPLOYMENT PLANS - Components of Pension Cost (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Components of Pension Cost for Defined Benefit Plan
Defined Benefit Plan, Net Periodic Benefit Cost (Credit), Interest Cost, Statement of Income or Comprehensive Income [Extensible Enumeration]	Nonoperating Income (Expense)	Nonoperating Income (Expense)	Nonoperating Income (Expense)
Defined Benefit Plan, Net Periodic Benefit (Cost) Credit, Expected Return (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]	Nonoperating Income (Expense)	Nonoperating Income (Expense)	Nonoperating Income (Expense)
Other adjustments	$ 5,692	$ 2,573	$ (3,556)
Defined Benefit Plan, Net Periodic Benefit Cost (Credit), Other Cost (Credit), Statement of Income or Comprehensive Income [Extensible Enumeration]	Nonoperating Income (Expense)	Nonoperating Income (Expense)	Nonoperating Income (Expense)
Defined Benefit Plan, Net Periodic Benefit Cost (Credit), Amortization of Prior Service Cost (Credit), Statement of Income or Comprehensive Income [Extensible Enumeration]	Nonoperating Income (Expense)	Nonoperating Income (Expense)	Nonoperating Income (Expense)
Defined Benefit Plan, Net Periodic Benefit (Cost) Credit, Amortization of Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]	Nonoperating Income (Expense)	Nonoperating Income (Expense)	Nonoperating Income (Expense)
Defined Benefit Plan, Net Periodic Benefit (Cost) Credit, Settlement and Curtailment Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]	Nonoperating Income (Expense)	Nonoperating Income (Expense)	Nonoperating Income (Expense)
Defined contribution plans	$ 29,029	$ 29,443	$ 29,569
U.S pension plans
Components of Pension Cost for Defined Benefit Plan
Service cost	156	166	199
Interest cost	477	466	262
Expected return on plan assets	0	0	0
Other adjustments	0	0	0
Amortization of prior service cost	0	0	0
Amortization of net loss (gain)	155	80	132
Settlement and curtailment charges (gains)	0	256	(3,735)
Defined benefit plans	788	968	(3,142)
Non-U.S. pension plans.
Components of Pension Cost for Defined Benefit Plan
Service cost	1,014	955	1,077
Interest cost	3,785	4,867	2,644
Expected return on plan assets	(2,574)	(3,839)	(3,525)
Other adjustments	0	117	0
Amortization of prior service cost	(7)	(8)	0
Amortization of net loss (gain)	(62)	(374)	299
Settlement and curtailment charges (gains)	3,818	949	367
Defined benefit plans	$ 5,974	$ 2,667	$ 862

RETIREMENT ANNUITY AND GUARAN_6

RETIREMENT ANNUITY AND GUARANTEED CONTINUOUS EMPLOYMENT PLANS - Pension Plans with Accumulated Benefit Obligations in Excess of Plan Assets (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
U.S pension plans
Pension Plans with Accumulated Benefit Obligations in Excess of Plan Assets
Projected benefit obligation	$ 7,819	$ 8,326
Accumulated benefit obligation	7,424	8,002
Fair value of plan assets	0	0
Non-U.S. pension plans.
Pension Plans with Accumulated Benefit Obligations in Excess of Plan Assets
Projected benefit obligation	50,363	88,290
Accumulated benefit obligation	47,867	86,317
Fair value of plan assets	$ 18,980	$ 50,758

RETIREMENT ANNUITY AND GUARAN_7

RETIREMENT ANNUITY AND GUARANTEED CONTINUOUS EMPLOYMENT PLANS - Benefit Payments for Plans (Details) $ in Thousands	Dec. 31, 2024 USD ($)
U.S pension plans
Benefit Payments for Plans
2025	$ 1,027
2026	1,015
2027	998
2028	906
2029	887
2030 through 2034	4,174
Non-U.S. pension plans.
Benefit Payments for Plans
2025	7,277
2026	6,263
2027	5,305
2028	5,923
2029	5,161
2030 through 2034	$ 30,196

RETIREMENT ANNUITY AND GUARAN_8

RETIREMENT ANNUITY AND GUARANTEED CONTINUOUS EMPLOYMENT PLANS - Weighted Average Assumptions Used to Measure the Benefit Obligation (Details)	Dec. 31, 2024	Dec. 31, 2023
U.S pension plans
Weighted average assumptions used to measure the benefit obligation
Discount rate	4.80%	6%
Rate of increase in compensation	3%	3%
Non-U.S. pension plans.
Weighted average assumptions used to measure the benefit obligation
Discount rate	4%	3.90%
Rate of increase in compensation	5.60%	4.80%

RETIREMENT ANNUITY AND GUARAN_9

RETIREMENT ANNUITY AND GUARANTEED CONTINUOUS EMPLOYMENT PLANS - Weighted Average Assumptions Used to Measure the Net Periodic Benefit Cost (Details)	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
U.S pension plans
Weighted average assumptions used to measure the net periodic benefit cost
Discount rate	6%	5.80%	2.50%
Rate of increase in compensation	3%	3%	3%
Expected return on plan assets	0%	0%	0%
Non-U.S. pension plans.
Weighted average assumptions used to measure the net periodic benefit cost
Discount rate	3.90%	4.20%	1.80%
Rate of increase in compensation	4.80%	3.70%	3.10%
Expected return on plan assets	3.80%	4.40%	3.40%

RETIREMENT ANNUITY AND GUARA_10

RETIREMENT ANNUITY AND GUARANTEED CONTINUOUS EMPLOYMENT PLANS - Pension Plan Assets by Level with the Fair Value Hierarchy (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Pension plans' assets by level within the fair value hierarchy
Total assets at fair value	$ 54,542	$ 91,222
Quoted Prices in Active Markets for Identical Assets (Level 1)
Pension plans' assets by level within the fair value hierarchy
Total assets at fair value	1,974	22,347
Significant Other Observable Inputs (Level 2)
Pension plans' assets by level within the fair value hierarchy
Total assets at fair value	6,063	5,894
Significant Unobservable Inputs (Level 3)
Pension plans' assets by level within the fair value hierarchy
Total assets at fair value	0	0
Cash and cash equivalents
Pension plans' assets by level within the fair value hierarchy
Total assets at fair value	1,974	22,347
Cash and cash equivalents | Quoted Prices in Active Markets for Identical Assets (Level 1)
Pension plans' assets by level within the fair value hierarchy
Total assets at fair value	1,974	22,347
Cash and cash equivalents | Significant Other Observable Inputs (Level 2)
Pension plans' assets by level within the fair value hierarchy
Total assets at fair value	0	0
Cash and cash equivalents | Significant Unobservable Inputs (Level 3)
Pension plans' assets by level within the fair value hierarchy
Total assets at fair value	0	0
Corporate and other obligations
Pension plans' assets by level within the fair value hierarchy
Total assets at fair value	6,063	5,894
Corporate and other obligations | Quoted Prices in Active Markets for Identical Assets (Level 1)
Pension plans' assets by level within the fair value hierarchy
Total assets at fair value	0	0
Corporate and other obligations | Significant Other Observable Inputs (Level 2)
Pension plans' assets by level within the fair value hierarchy
Total assets at fair value	6,063	5,894
Corporate and other obligations | Significant Unobservable Inputs (Level 3)
Pension plans' assets by level within the fair value hierarchy
Total assets at fair value	0	0
Common trusts and 103-12 investments
Pension plans' assets by level within the fair value hierarchy
Total assets at fair value	46,505	62,981
Common trusts and 103-12 investments | Quoted Prices in Active Markets for Identical Assets (Level 1)
Pension plans' assets by level within the fair value hierarchy
Total assets at fair value	0	0
Common trusts and 103-12 investments | Significant Other Observable Inputs (Level 2)
Pension plans' assets by level within the fair value hierarchy
Total assets at fair value	0	0
Common trusts and 103-12 investments | Significant Unobservable Inputs (Level 3)
Pension plans' assets by level within the fair value hierarchy
Total assets at fair value	$ 0	$ 0

RETIREMENT ANNUITY AND GUARA_11

RETIREMENT ANNUITY AND GUARANTEED CONTINUOUS EMPLOYMENT PLANS - Defined Contribution Plans (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Defined Contribution Plan
Defined Contribution Plan, Employer Matching Contribution, Percent of Employees' Gross Pay	6%
Employer match of employee contributions of first 3% of eligible compensation (as a percent)	100%
Percentage of eligible compensation, matched 100% by employer (as a percent)	3%
Percentage of base pay as additional annual Company contribution to participants (as a percent)	3%
Annual costs recognized for defined contribution plans	$ 29,029	$ 29,443	$ 29,569
Minimum
Defined Contribution Plan
Employee service period	5 years
Maximum
Defined Contribution Plan
Employee service period	30 years

RETIREMENT ANNUITY AND GUARA_12

RETIREMENT ANNUITY AND GUARANTEED CONTINUOUS EMPLOYMENT PLANS - Narrative (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2024 USD ($) item	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)
After-tax amounts included in Accumulated other comprehensive loss
Unrecognized actuarial net loss	$ 1,037
Unrecognized prior service credits	(28)
Unrecognized transition obligations	17
Total accumulated benefit obligation for all plans	$ 89,759	$ 131,550
Other Benefits
Minimum percentage of every standard work week for which, the Company will provide work to employees in Cleveland, Ohio, area operations, covered under the guaranteed continuous employment plan (as a percent)	75%
Hours in a standard work week under Guaranteed Continuous Employment Plan (hours) | item	40
Minimum notice period for the termination of Guaranteed Continuous Employment Plan (in months)	6 months
Surplus assets recorded	$ 54,542	91,222
Other Current Assets
Other Benefits
Surplus assets recorded	27,059	41,849
Supplemental executive retirement plan (SERP)
Supplemental Executive Retirement Plan
Total net pension costs	340	650	$ 253
Projected benefit obligation	$ 5,034	$ 5,461	$ 7,339
Corporate stock | Minimum
Target allocation for pension plan assets
Target plan asset allocations range minimum	10%
Corporate stock | Maximum
Target allocation for pension plan assets
Target plan asset allocations range minimum	15%
Debt Securities | Minimum
Target allocation for pension plan assets
Target plan asset allocations range minimum	85%
Debt Securities | Maximum
Target allocation for pension plan assets
Target plan asset allocations range minimum	90%

OTHER INCOME (Details)

OTHER INCOME (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
OTHER INCOME
Equity earnings in affiliates	$ 235	$ 556	$ (153)
Other components of net periodic pension (cost) income	(5,692)	(2,573)	3,556
Other income	5,930	15,405	6,588
Total Other income	$ 473	$ 13,388	$ 9,991

INCOME TAXES - Components of In

INCOME TAXES - Components of Income before Income Taxes (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Components of income before income taxes
U.S.	$ 496,339	$ 508,316	$ 359,760
Non-U.S.	97,810	178,550	233,067
Income before income taxes	$ 594,149	$ 686,866	$ 592,827

INCOME TAXES - Components of _2

INCOME TAXES - Components of Income Tax Expense (Benefit) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Current:
Federal	$ 109,943	$ 95,514	$ 88,974
Non-U.S.	37,997	45,830	55,664
State and local	21,217	24,132	24,423
Current income tax expense (benefit)	169,157	165,476	169,061
Deferred:
Federal	(31,178)	(13,068)	(38,462)
Non-U.S.	(5,269)	(7,515)	(3,281)
State and local	(4,669)	(3,275)	(6,715)
Deferred income tax expense (benefit)	(41,116)	(23,858)	(48,458)
Total	$ 128,041	$ 141,618	$ 120,603

INCOME TAXES - Income Tax Rate

INCOME TAXES - Income Tax Rate Reconciliation (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Differences between total income tax expense and the amount computed by applying the statutory federal income tax rate to income before income taxes
Statutory rate applied to pre-tax income	$ 124,771	$ 144,242	$ 124,492
State and local income taxes, net of federal tax benefit	14,172	17,979	12,904
Excess tax benefits resulting from exercises of stock-based compensation	(4,364)	(10,742)	(2,500)
Foreign derived intangible income deduction	(13,766)	(10,411)	(13,356)
Foreign rate variance	9,312	6,854	5,020
Research and development credit	(10,010)	(9,600)	(6,800)
Other	7,926	3,296	843
Total	$ 128,041	$ 141,618	$ 120,603
Effective tax rate	21.60%	20.60%	20.30%
Total income tax payments, net of refunds	$ 157,542	$ 180,512	$ 151,818

INCOME TAXES - Deferred Taxes (

INCOME TAXES - Deferred Taxes (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Deferred tax assets:
Tax loss and credit carry-forwards	$ 43,417	$ 45,319
Inventory	1,555	2,941
Other accruals	31,671	17,984
Research and development capitalization	86,697	64,836
Employee benefits	27,866	28,639
Pension obligations	7,025	7,375
Other	9,508	5,640
Deferred tax assets, gross	207,739	172,734
Valuation allowance	(35,284)	(36,876)
Deferred tax assets, net	172,455	135,858
Deferred tax liabilities:
Property, plant and equipment	43,048	43,339
Intangible assets	31,214	26,624
Inventory	6,785	4,918
Pension and other benefit liabilities	5,890	10,545
Other	18,371	18,402
Deferred tax liabilities	105,308	103,828
Total deferred taxes	67,147	$ 32,030
Tax loss carryforwards of certain subsidiaries that will expire in various years from 2032 through 2040	35,769
Tax loss carryforwards of certain subsidiaries for which there is no expiration date	128,123
Foreign Withholding Taxes Liability	$ 76

INCOME TAXES - Unrecognized Tax

INCOME TAXES - Unrecognized Tax Benefits (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]
Balance at beginning of year	$ 12,592	$ 17,423
Increase related to current year tax provisions	1,701	1,983
Decrease related to prior years' tax positions	(870)	(1,642)
Decrease related to settlements with taxing authorities	0	(4,036)
Resolution of and other decreases in prior years' tax liabilities	(1,982)	(1,380)
Other	(554)	244
Balance at end of year	10,887	12,592
Interest and penalties expense (benefit)	145	101
Accrued interest and penalties	2,495	2,364
Total amount of unrecognized tax benefits that, if recognized, would affect the effective tax rate	9,343	$ 10,036
Reasonably possible further reduction in prior years' unrecognized tax benefits during the next twelve months	$ 2,023

DERIVATIVES - Fair Value of Der

DERIVATIVES - Fair Value of Derivative Instruments (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Other Current Assets
Fair values of derivative instruments
Fair value of derivative assets	$ 13,499	$ 5,656
Other Current Liabilities
Fair values of derivative instruments
Fair value of derivative liabilities	7,223	4,661
Other Noncurrent Assets
Fair values of derivative instruments
Fair value of derivative assets	0	21,837
Other Noncurrent Liabilities
Fair values of derivative instruments
Fair value of derivative liabilities	0	0
Designated as Hedging Instruments | Foreign exchange contracts | Other Current Assets
Fair values of derivative instruments
Fair value of derivative assets	1,663	1,548
Designated as Hedging Instruments | Foreign exchange contracts | Other Current Liabilities
Fair values of derivative instruments
Fair value of derivative liabilities	2,972	687
Designated as Hedging Instruments | Foreign exchange contracts | Other Noncurrent Assets
Fair values of derivative instruments
Fair value of derivative assets	0	0
Designated as Hedging Instruments | Foreign exchange contracts | Other Noncurrent Liabilities
Fair values of derivative instruments
Fair value of derivative liabilities	0	0
Designated as Hedging Instruments | Interest rate swap agreements | Other Current Assets
Fair values of derivative instruments
Fair value of derivative assets	0	0
Designated as Hedging Instruments | Interest rate swap agreements | Other Current Liabilities
Fair values of derivative instruments
Fair value of derivative liabilities	0	0
Designated as Hedging Instruments | Interest rate swap agreements | Other Noncurrent Assets
Fair values of derivative instruments
Fair value of derivative assets	0	1,460
Designated as Hedging Instruments | Interest rate swap agreements | Other Noncurrent Liabilities
Fair values of derivative instruments
Fair value of derivative liabilities	0	0
Designated as Hedging Instruments | Forward starting swap agreements | Other Current Assets
Fair values of derivative instruments
Fair value of derivative assets	0	0
Designated as Hedging Instruments | Forward starting swap agreements | Other Current Liabilities
Fair values of derivative instruments
Fair value of derivative liabilities	0	0
Designated as Hedging Instruments | Forward starting swap agreements | Other Noncurrent Assets
Fair values of derivative instruments
Fair value of derivative assets	0	20,377
Designated as Hedging Instruments | Forward starting swap agreements | Other Noncurrent Liabilities
Fair values of derivative instruments
Fair value of derivative liabilities	0	0
Designated as Hedging Instruments | Net investment contracts | Other Current Assets
Fair values of derivative instruments
Fair value of derivative assets	10,276	0
Designated as Hedging Instruments | Net investment contracts | Other Current Liabilities
Fair values of derivative instruments
Fair value of derivative liabilities	0	3,351
Designated as Hedging Instruments | Net investment contracts | Other Noncurrent Assets
Fair values of derivative instruments
Fair value of derivative assets	0	0
Designated as Hedging Instruments | Net investment contracts | Other Noncurrent Liabilities
Fair values of derivative instruments
Fair value of derivative liabilities	0	0
Designated as Hedging Instruments | Commodity contracts | Other Current Assets
Fair values of derivative instruments
Fair value of derivative assets	0	45
Designated as Hedging Instruments | Commodity contracts | Other Current Liabilities
Fair values of derivative instruments
Fair value of derivative liabilities	0	0
Designated as Hedging Instruments | Commodity contracts | Other Noncurrent Assets
Fair values of derivative instruments
Fair value of derivative assets	0	0
Designated as Hedging Instruments | Commodity contracts | Other Noncurrent Liabilities
Fair values of derivative instruments
Fair value of derivative liabilities	0	0
Not designated as hedging instruments | Foreign exchange contracts | Other Current Assets
Fair values of derivative instruments
Fair value of derivative assets	1,560	4,063
Not designated as hedging instruments | Foreign exchange contracts | Other Current Liabilities
Fair values of derivative instruments
Fair value of derivative liabilities	4,251	623
Not designated as hedging instruments | Foreign exchange contracts | Other Noncurrent Assets
Fair values of derivative instruments
Fair value of derivative assets	0	0
Not designated as hedging instruments | Foreign exchange contracts | Other Noncurrent Liabilities
Fair values of derivative instruments
Fair value of derivative liabilities	$ 0	$ 0

DERIVATIVES - Derivatives Incom

DERIVATIVES - Derivatives Income Statement Impact (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Foreign exchange contracts | Selling, general & administrative expenses
Effects of undesignated derivative instruments on the entity's Consolidated Statements of Income
(Loss) gains recognized in income	$ (11,198)	$ 15,990

DERIVATIVES - AOCI Impact (Deta

DERIVATIVES - AOCI Impact (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Foreign exchange contracts
Fair values of derivative instruments
Gain (loss) recognized in AOCI	$ (812)	$ 721
Interest rate swap agreements
Fair values of derivative instruments
Gain (loss) recognized in AOCI	0	1,085
Forward starting swap agreements
Fair values of derivative instruments
Gain (loss) recognized in AOCI	18,067	14,696
Net investment contracts
Fair values of derivative instruments
Gain (loss) recognized in AOCI	20,403	7,136
Commodity contracts
Fair values of derivative instruments
Gain (loss) recognized in AOCI	0	34
Net Sales | Foreign exchange contracts
Fair values of derivative instruments
Gain reclassified from AOCI to earnings	(625)	5,210
Cost of goods sold | Foreign exchange contracts
Fair values of derivative instruments
Gain reclassified from AOCI to earnings	494	590
Cost of goods sold | Commodity contracts
Fair values of derivative instruments
Gain reclassified from AOCI to earnings	110	193
Interest expense | Forward starting swap agreements
Fair values of derivative instruments
Gain reclassified from AOCI to earnings	$ 1,394	$ 0

DERIVATIVES - Narrative (Detail

DERIVATIVES - Narrative (Details) $ in Thousands	1 Months Ended	3 Months Ended	12 Months Ended
	Jun. 30, 2024 USD ($)	Jun. 30, 2024 USD ($)	Dec. 31, 2024 USD ($)	Dec. 31, 2023 USD ($) lb
Derivative [Line Items]
Maximum period for which derivative contracts cover currency and commodity exposures (in years)			3 years
Derivative Instruments, Gain (Loss) Reclassification from Accumulated OCI to Income, Estimate of Time to Transfer			12 months
Term Loan
Derivative [Line Items]
Gain on termination of long-term contracts	$ 2,428
Foreign exchange contracts
Derivative [Line Items]
Derivative Instruments, Gain (Loss) Recognized in Other Comprehensive Income (Loss), Effective Portion, Net			$ 812
Interest rate swap agreements
Derivative [Line Items]
Notional amount of derivative instruments				$ 150,000
Interest rate swap agreements | Term Loan
Derivative [Line Items]
Gain on termination of long-term contracts			2,428
Not designated as hedging instruments | Foreign exchange contracts
Derivative [Line Items]
Notional amount of derivative instruments			421,754	492,600
Cash flow hedges | Designated as Hedging Instruments | Foreign exchange contracts
Derivative [Line Items]
Notional amount of derivative instruments			96,444	84,148
Cash flow hedges | Designated as Hedging Instruments | Interest rate swap agreements
Derivative [Line Items]
Notional amount of derivative instruments				$ 100,000
Gain on termination of long-term contracts		$ 25,852
Cash flow hedges | Designated as Hedging Instruments | Commodity contracts
Derivative [Line Items]
Notional amount (in pounds) | lb				200,000
Net investment hedges | Designated as Hedging Instruments | Foreign exchange contracts
Derivative [Line Items]
Notional amount of derivative instruments			$ 319,450	$ 119,607

FAIR VALUE - Summary of Fair Va

FAIR VALUE - Summary of Fair Value Assets and Liabilities (Details) - Recurring basis - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Assets:
Total assets	$ 40,558	$ 69,342
Liabilities:
Deferred compensation	55,425	53,628
Total liabilities	62,648	58,289
Foreign exchange contracts
Assets:
Assets	3,223	5,611
Liabilities:
Liabilities	7,223	1,310
Net investment contracts
Assets:
Assets	10,276
Liabilities:
Liabilities		3,351
Commodity contracts
Assets:
Assets		45
Interest rate swap agreements
Assets:
Assets		1,460
Forward starting swap agreements
Assets:
Assets		20,377
Pension surplus
Assets:
Assets	27,059	41,849
Quoted Prices in Active Markets for Identical Assets or Liabilities (Level 1)
Assets:
Total assets	27,059	41,849
Liabilities:
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
Assets:
Assets	0
Liabilities:
Liabilities		0
Quoted Prices in Active Markets for Identical Assets or Liabilities (Level 1) | Commodity contracts
Assets:
Assets		0
Quoted Prices in Active Markets for Identical Assets or Liabilities (Level 1) | Interest rate swap agreements
Assets:
Assets		0
Quoted Prices in Active Markets for Identical Assets or Liabilities (Level 1) | Forward starting swap agreements
Assets:
Assets		0
Quoted Prices in Active Markets for Identical Assets or Liabilities (Level 1) | Pension surplus
Assets:
Assets	27,059	41,849
Significant Other Observable Inputs (Level 2)
Assets:
Total assets	13,499	27,493
Liabilities:
Deferred compensation	55,425	53,628
Total liabilities	62,648	58,289
Significant Other Observable Inputs (Level 2) | Foreign exchange contracts
Assets:
Assets	3,223	5,611
Liabilities:
Liabilities	7,223	1,310
Significant Other Observable Inputs (Level 2) | Net investment contracts
Assets:
Assets	10,276
Liabilities:
Liabilities		3,351
Significant Other Observable Inputs (Level 2) | Commodity contracts
Assets:
Assets		45
Significant Other Observable Inputs (Level 2) | Interest rate swap agreements
Assets:
Assets		1,460
Significant Other Observable Inputs (Level 2) | Forward starting swap agreements
Assets:
Assets		20,377
Significant Other Observable Inputs (Level 2) | Pension surplus
Assets:
Assets	0	0
Significant Unobservable Inputs (Level 3)
Assets:
Total assets	0	0
Liabilities:
Deferred compensation	0	0
Total liabilities	0	0
Significant Unobservable Inputs (Level 3) | Foreign exchange contracts
Assets:
Assets	0	0
Liabilities:
Liabilities	0	0
Significant Unobservable Inputs (Level 3) | Net investment contracts
Assets:
Assets	0
Liabilities:
Liabilities		0
Significant Unobservable Inputs (Level 3) | Commodity contracts
Assets:
Assets		0
Significant Unobservable Inputs (Level 3) | Interest rate swap agreements
Assets:
Assets		0
Significant Unobservable Inputs (Level 3) | Forward starting swap agreements
Assets:
Assets		0
Significant Unobservable Inputs (Level 3) | Pension surplus
Assets:
Assets	$ 0	$ 0

FAIR VALUE - Narrative (Details

FAIR VALUE - Narrative (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2024 USD ($)
FAIR VALUE
Transfers between fair value levels for assets and liabilities	$ 0

INVENTORY (Details)

INVENTORY (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
INVENTORY
Raw materials	$ 153,596	$ 160,809
Work-in-process	123,406	125,756
Finished goods	267,035	276,299
Total	$ 544,037	$ 562,864
Percentage of total inventories valued using the LIFO method (as a percent)	35%	37%	38%
Excess of current cost over LIFO cost	$ 120,633	$ 129,946
Benefit due to LIFO inventory valuations	$ 9,313	$ 3,963

LEASES (Details)

LEASES (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
LEASES
Lease, cost	$ 24,778	$ 24,408	$ 20,548
Operating lease, payments	15,874	13,450
Right-of-use asset obtained in exchange for operating lease liability	$ 17,591	$ 9,249
Operating lease, weighted average remaining lease term	6 years 4 months 24 days	7 years
Operating lease, weighted average discount rate, percent	3.70%	3.50%

LEASES - Schedule of Leases in

LEASES - Schedule of Leases in Balance Sheets (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
LEASES
Right-of-use assets	$ 54,276	$ 53,284
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible List]	Other Assets, Noncurrent	Other Assets, Noncurrent
Current liabilities	$ 13,110	$ 13,104
Operating Lease, Liability, Current, Statement of Financial Position [Extensible List]	Other Liabilities, Current	Other Liabilities, Current
Noncurrent liabilities	$ 42,124	$ 41,576
Operating Lease, Liability, Noncurrent, Statement of Financial Position [Extensible List]	Other Liabilities, Noncurrent	Other Liabilities, Noncurrent
Total lease liabilities	$ 55,234	$ 54,680

LEASES - Maturities of Lease Li

LEASES - Maturities of Lease Liabilities, Operating Leases (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
LEASES
2025	$ 14,896
2026	12,336
2027	9,814
2028	8,069
2029	5,385
After 2029	11,442
Total lease payments	61,942
Less: Imputed interest	6,708
Operating lease liabilities	$ 55,234	$ 54,680

SUPPLIER FINANCING PROGRAM (Det

SUPPLIER FINANCING PROGRAM (Details) - USD ($) $ in Thousands	Dec. 31, 2024	Dec. 31, 2023
Supplier financing program
Supplier financing program obligations included in accounts payable	$ 29,164	$ 29,111
Supplier Finance Program, Obligation, Current, Statement of Financial Position [Extensible Enumeration]	Accounts Payable, Current
Minimum
Supplier financing program
Supplier terms	120 days
Maximum
Supplier financing program
Supplier terms	180 days

SUPPLIER FINANCING PROGRAM - CO

SUPPLIER FINANCING PROGRAM - CONFIRMED OBLIGATION ROLLFORWARD (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Confirmed Obligation Rollforward
Confirmed obligations at beginning of the period	$ 29,111	$ 33,475
Supplier Finance Program, Obligation, Statement of Financial Position [Extensible Enumeration]	Accounts Payable, Current	Accounts Payable, Current
Invoices confirmed during the period	$ 103,908	$ 97,820
Confirmed invoices paid during the period	(103,855)	(102,184)
Confirmed obligations outstanding at the end of the period	$ 29,164	$ 29,111
Supplier Finance Program, Obligation, Statement of Financial Position [Extensible Enumeration]	Accounts Payable, Current	Accounts Payable, Current

SCHEDULE II - VALUATION AND Q_2

SCHEDULE II - VALUATION AND QUALIFYING ACCOUNTS (Details) - USD ($) $ in Thousands		12 Months Ended
		Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Allowance for doubtful accounts
Changes in valuation and qualifying accounts
Balance at Beginning of Period		$ 11,464	$ 12,556	$ 11,105
Additions: Charged to Costs and Expenses		4,371	1,195	1,778
Additions: Charged (Credited) to Other Accounts	[1]	(2,057)	(94)	598
Deductions	[2]	1,104	2,193	925
Balance at End of Period		12,674	11,464	12,556
Deferred tax asset valuation allowance
Changes in valuation and qualifying accounts
Balance at Beginning of Period		36,876	44,627	55,619
Additions: Charged to Costs and Expenses		3,010	4,570	2,262
Additions: Charged (Credited) to Other Accounts	[1]	(3,532)	(606)	(5,197)
Deductions	[2]	1,070	11,715	8,057
Balance at End of Period		$ 35,284	$ 36,876	$ 44,627
[1] Currency translation adjustment, reductions from restructuring and other adjustments. For the Allowance for doubtful accounts, deductions relate to uncollectible accounts written-off, net of recoveries. For the Deferred tax asset valuation allowance, deductions relate to the reversal of valuation allowances due to the realization of net operating loss carryforwards.