0001420800-19-000017 | 10-Q | XBRL Viewer

COVER PAGE	6 Months Ended
COVER PAGE	Jun. 28, 2019 shares
Entity Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 28, 2019
Document Transition Report	false
Entity File Number	001-34045
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	54-1887631
Entity Address, Address Line One	420 National Business Parkway,
Entity Address, Address Line Two	5th Floor
Entity Address, Postal Zip Code	20701
Entity Address, City or Town	Annapolis Junction,
Entity Address, State or Province	MD
City Area Code	(301)
Local Phone Number	323-9000
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding	117,667,359
Entity Registrant Name	Colfax CORP
Entity Central Index Key	0001420800
Current Fiscal Year End Date	--12-31
Document Fiscal Period Focus	Q2
Document Fiscal Year Focus	2019
Amendment Flag	false
Common Stock
Entity Information [Line Items]
Title of 12(b) Security	Common Stock, par value $0.001 per share
Trading Symbol	CFX
Security Exchange Name	NYSE
Tangible Equity Units
Entity Information [Line Items]
Title of 12(b) Security	5.75% Tangible Equity Units
Trading Symbol	CFXA
Security Exchange Name	NYSE

CONDENSED CONSOLIDATED STATEMENTS OF INCOME - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 28, 2019	Jun. 29, 2018	Jun. 28, 2019	Jun. 29, 2018
Income Statement [Abstract]
Revenues	$ 908,647	$ 560,857	$ 1,592,566	$ 1,094,130
Cost of sales	532,589	368,932	955,495	717,622
Gross profit	376,058	191,925	637,071	376,508
Selling, general and administrative expense	307,939	135,948	555,788	273,812
Restructuring and other related charges	26,585	10,553	37,416	12,984
Operating income	41,534	45,424	43,867	89,712
Pension settlement loss			43,774	0
Interest expense, net	33,171	12,936	54,992	21,844
(Gain) loss on short-term investments	0	(4,591)	0	10,128
(Loss) income from continuing operations before income taxes	8,363	37,079	(11,125)	57,740
Provision (benefit) for income taxes	6,151	(10,764)	8,193	(10,863)
Net income (loss) from continuing operations	2,212	47,843	(19,318)	68,603
(Loss) income from discontinued operations, net of taxes	(468,817)	(6,064)	(495,289)	2,218
Net (loss) income	(466,605)	41,779	(514,607)	70,821
Less: income attributable to noncontrolling interest, net of taxes	2,629	3,322	6,650	7,829
Net (loss) income attributable to Colfax Corporation	$ (469,234)	$ 38,457	$ (521,257)	$ 62,992
Net income (loss) per share - basic
Continuing operations	$ 0.01	$ 0.38	$ (0.16)	$ 0.55
Discontinued operations	(3.46)	(0.07)	(3.70)	(0.03)
Consolidated operations	(3.45)	0.31	(3.86)	0.51
Net income (loss) per share - diluted
Continuing operations	0.01	0.38	(0.16)	0.54
Discontinued Operation, Income (Loss) from Discontinued Operation, Net of Tax, Per Diluted Share	(3.46)	(0.07)	(3.70)	(0.03)
Earnings Per Share, Diluted	$ (3.45)	$ 0.31	$ (3.86)	$ 0.51

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 28, 2019	Jun. 29, 2018	Jun. 28, 2019	Jun. 29, 2018
Statement of Comprehensive Income [Abstract]
Net (loss) income	$ (466,605)	$ 41,779	$ (514,607)	$ 70,821
Other comprehensive (loss) income:
Foreign currency translation, net of tax of $(47), $5,412, $(412) and $4,569	(19,865)	(222,473)	6,537	(140,798)
Unrealized (loss) gain on hedging activities, net of tax of $(2,188), $6,033, $(310) and $3,100	(3,696)	12,154	1,656	7,020
Amounts reclassified from Accumulated other comprehensive income:
Amortization of pension and other post-retirement net actuarial gain (loss), net of tax of $207, $273, $(1,719) and $476	654	876	(8,960)	1,833
Amortization of pension and other post-retirement prior service cost, net of tax of $0, $0, $0 and $0	0	0	32	1
Other comprehensive loss	(22,907)	(209,443)	(735)	(131,944)
Comprehensive loss	(489,512)	(167,664)	(515,342)	(61,123)
Less: comprehensive income (loss) attributable to noncontrolling interest	516	(15,518)	8,656	(4,959)
Comprehensive loss attributable to Colfax Corporation	$ (490,028)	$ (152,146)	$ (523,998)	$ (56,164)

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) [Parenthetical] - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 28, 2019	Jun. 29, 2018	Jun. 28, 2019	Jun. 29, 2018
Statement of Comprehensive Income [Abstract]
Foreign currency translation, tax	$ (365)	$ (843)	$ 1,880	$ (1,633)
Unrealized gain on hedging activities, tax	1,878	2,933	3,352	(14,872)
Amortization of pension and other post-retirement net actuarial loss, tax	(1,926)	203	641	2,658
Amortization of pension and other post-retirement prior service cost, tax	$ 0	$ 0	$ 0	$ 71

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 28, 2019	Dec. 31, 2018
ASSETS
Cash and cash equivalents	$ 131,925	$ 77,153
Trade receivables, less allowance for doubtful accounts of $31,678 and $26,844	616,263	386,588
Inventories, net	594,800	359,655
Other current assets	171,622	137,801
Current portion of assets held for sale	2,121,983	997,244
Total current assets	3,636,593	1,958,441
Property, plant and equipment, net	488,956	327,155
Goodwill	2,822,093	1,497,832
Intangible assets, net	2,314,420	628,300
Lease asset - right of use	153,924	0
Other assets	483,267	463,525
Assets held for sale, less current portion	0	1,740,705
Total assets	9,899,253	6,615,958
LIABILITIES AND EQUITY
Current portion of long-term debt	39,524	5,020
Accounts payable	399,812	291,233
Customer advances and billings in excess of costs incurred	16,277	16,827
Accrued liabilities	448,558	274,017
Current portion of liabilities held for sale	694,384	612,248
Total current liabilities	1,598,555	1,199,345
Long-term debt, less current portion	4,078,232	1,192,408
Non-current lease liability	119,398	0
Other liabilities	846,719	651,864
Liabilities held for sale, less current portion	0	95,395
Total liabilities	6,642,904	3,139,012
Equity:
Common stock, $0.001 par value; 400,000,000 shares authorized; 117,667,359 and 117,275,217 issued and outstanding	118	117
Additional paid-in capital	3,427,979	3,057,982
Retained earnings	485,949	991,838
Accumulated other comprehensive loss	(819,248)	(780,177)
Total Colfax Corporation equity	3,094,798	3,269,760
Noncontrolling interest	161,551	207,186
Total equity	3,256,349	3,476,946
Total liabilities and equity	$ 9,899,253	$ 6,615,958

CONDENSED CONSOLIDATED BALANCE SHEETS [Parenthetical] - USD ($) $ in Thousands	Jun. 28, 2019	Dec. 31, 2018
Condensed Consolidated Balance Sheet (Parenthetical) [Abstract]
Trade receivables, allowance for doubtful accounts	$ 31,678	$ 26,844
Common Stock, par value (in dollars per share)	$ 0.001	$ 0.001
Common Stock, Shares Authorized	400,000,000	400,000,000
Common Stock, Shares, Issued	117,667,359	117,275,217
Common Stock, Shares, Outstanding	117,667,359	117,275,217

CONDENSED CONSOLIDATED STATEMENT OF EQUITY - USD ($) $ in Thousands	Total	Common Stock	Additional Paid-in Capital	Retained Earnings	Accumulated Other Comprehensive Loss	Noncontrolling Interest
Cumulative effect of accounting change				$ 5,152	$ (5,152)
Shares, Outstanding at Dec. 31, 2017		123,245,827
Balance at Dec. 31, 2017	$ 3,727,264	$ 123	$ 3,228,174	846,490	(574,372)	$ 226,849
Net income attributable to Colfax Corporation				24,535
Net income attributable to noncontrolling interest						4,507
Net income	29,042
Distributions to noncontrolling owners	(721)					(721)
Other comprehensive loss, net of tax	77,499				71,447	6,052
Common stock-based award activity	8,160		8,160
Common stock-based award activity (in shares)		231,908
Balance at Mar. 30, 2018	3,841,244	$ 123	3,236,334	876,177	(508,077)	236,687
Shares, Outstanding at Mar. 30, 2018		123,477,735
Shares, Outstanding at Dec. 31, 2017		123,245,827
Balance at Dec. 31, 2017	3,727,264	$ 123	3,228,174	846,490	(574,372)	226,849
Net income attributable to Colfax Corporation	62,992
Net income attributable to noncontrolling interest	7,829
Net income	70,821
Other comprehensive loss, net of tax	(131,944)
Balance at Jun. 29, 2018	3,537,440	$ 119	3,100,201	914,634	(698,680)	221,166
Shares, Outstanding at Jun. 29, 2018		118,925,914
Shares, Outstanding at Mar. 30, 2018		123,477,735
Balance at Mar. 30, 2018	3,841,244	$ 123	3,236,334	876,177	(508,077)	236,687
Net income attributable to Colfax Corporation	38,457			38,457
Net income attributable to noncontrolling interest	3,322					3,322
Net income	41,779
Distributions to noncontrolling owners	(3)					(3)
Other comprehensive loss, net of tax	(209,443)				(190,603)	(18,840)
Common stock repurchases, shares		(4,604,974)
Common stock repurchases	(143,902)	$ (4)	(143,898)
Common stock-based award activity	7,765		7,765
Common stock-based award activity (in shares)		53,153
Balance at Jun. 29, 2018	3,537,440	$ 119	3,100,201	914,634	(698,680)	221,166
Shares, Outstanding at Jun. 29, 2018		118,925,914
Cumulative effect of accounting change				15,368	(15,368)
Shares, Outstanding at Dec. 31, 2018		117,275,217
Balance at Dec. 31, 2018	3,476,946	$ 117	3,057,982	991,838	(780,177)	207,186
Net income attributable to Colfax Corporation				(52,023)
Net income attributable to noncontrolling interest						4,021
Net income	(48,002)
Distributions to noncontrolling owners	(2,170)					(2,170)
Noncontrolling interest share repurchase	(92,721)		(22,409)		(21,372)	(48,940)
Other comprehensive loss, net of tax	22,172				18,053	4,119
Issuance of Tangible Equity Units	377,814		377,814
Common stock-based award activity	7,677	$ 1	7,676
Common stock-based award activity (in shares)		283,197
Balance at Mar. 29, 2019	3,741,716	$ 118	3,421,063	955,183	(798,864)	164,216
Shares, Outstanding at Mar. 29, 2019		117,558,414
Shares, Outstanding at Dec. 31, 2018		117,275,217
Balance at Dec. 31, 2018	3,476,946	$ 117	3,057,982	991,838	(780,177)	207,186
Net income attributable to Colfax Corporation	(521,257)
Net income attributable to noncontrolling interest	6,650
Net income	(514,607)
Other comprehensive loss, net of tax	(735)
Balance at Jun. 28, 2019	3,256,349	$ 118	3,427,979	485,949	(819,248)	161,551
Shares, Outstanding at Jun. 28, 2019		117,667,359
Shares, Outstanding at Mar. 29, 2019		117,558,414
Balance at Mar. 29, 2019	3,741,716	$ 118	3,421,063	955,183	(798,864)	164,216
Net income attributable to Colfax Corporation	(469,234)			(469,234)
Net income attributable to noncontrolling interest	2,629					2,629
Net income	(466,605)
Distributions to noncontrolling owners	(2,970)					(2,970)
Noncontrolling interest share repurchase	(366)		(565)		410	(211)
Other comprehensive loss, net of tax	(22,907)				(20,794)	(2,113)
Common stock-based award activity	7,481		7,481
Common stock-based award activity (in shares)		108,945
Balance at Jun. 28, 2019	$ 3,256,349	$ 118	$ 3,427,979	$ 485,949	$ (819,248)	$ 161,551
Shares, Outstanding at Jun. 28, 2019		117,667,359

CONDENSED CONSOLIDATED STATEMENT OF EQUITY Statement of Stockholders' Equity [Parenthetical] - USD ($) $ in Thousands	6 Months Ended
	Jun. 28, 2019	Jun. 29, 2018
Statement of Stockholders' Equity [Parenthetical] [Abstract]
Cumulative effect of accounting change, tax		$ 2,808
Other comprehensive income, tax	$ (2,934)	$ 8,145

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	6 Months Ended
	Jun. 28, 2019	Jun. 29, 2018
Statement of Cash Flows [Abstract]
Net income	$ (514,607)	$ 70,821
Adjustments to reconcile net income to net cash provided by operating activities:
Held for sale impairment loss	481,000	0
Depreciation, amortization and other impairment charges	120,469	71,958
Stock-based compensation expense	11,169	12,835
Non-cash interest expense	3,947	2,243
(Gain) loss on short-term investments	0	10,128
Deferred income tax benefit	(17,412)	(19,656)
Loss (gain) on sale of property, plant and equipment	878	(7,839)
Loss on sale of business	0	4,337
Pension settlement loss	43,774	0
Changes in operating assets and liabilities:
Trade receivables, net	(6,589)	(65,186)
Inventories, net	(39,400)	(53,993)
Accounts payable	(62,831)	19,878
Customer advances and billings in excess of costs incurred	26,819	17,462
Changes in other operating assets and liabilities	(36,785)	(29,326)
Net cash provided by operating activities	10,432	33,662
Cash flows from investing activities:
Purchases of property, plant and equipment	(63,956)	(24,808)
Proceeds from sale of property, plant and equipment	3,256	14,634
Acquisitions, net of cash received	(3,147,835)	(50,912)
Proceeds from Sale of Short-term Investments	0	139,480
Proceeds from sale of business, net	0	18,603
Net cash (used in) provided by investing activities	(3,208,535)	96,997
Cash flows from financing activities:
Payments under term credit facility	(518,125)	(56,250)
Proceeds from borrowings under notes and term credit facility	2,725,000	0
Proceeds from borrowings on revolving credit facilities and other	1,575,486	504,518
Repayments of borrowings on revolving credit facilities and other	(865,357)	(422,361)
Payment of debt issuance costs	(24,280)	0
Proceeds from tangible equity units, net	377,814	0
Proceeds from issuance of common stock, net	3,988	3,090
Payment for noncontrolling interest share repurchase	93,087	0
Payment for noncontrolling interest share repurchase	0	(143,902)
Other	(2,417)	(838)
Net cash provided by (used in) financing activities	3,179,022	(115,743)
Effect of foreign exchange rates on Cash and cash equivalents	6,268	(19,235)
Decrease in Cash and cash equivalents	(12,813)	(4,319)
Cash and Cash Equivalents- beginning of period	245,019	262,019
Cash and Cash Equivalents- end of period	$ 232,206	$ 257,700

General (Text Block)	6 Months Ended
General (Text Block)	Jun. 28, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block]	General Colfax Corporation (the “Company” or “Colfax”) is a leading diversified technology company that provides air and gas handling, fabrication technology, and medical device products and services to customers around the world under the Howden, ESAB, and DJO brands. On May 15, 2019, the Company entered into a definitive equity and asset purchase agreement (the “Purchase Agreement”) with Granite Holdings US Acquisition Co., a Delaware corporation, and Brillant 3047, GmbH, a company organized under the laws of Germany (collectively, “Purchaser”), which are affiliates of KPS Capital Partners, LP (“KPS”), pursuant to which Purchaser has agreed to purchase certain subsidiaries and assets comprising Colfax’s Air and Gas Handling business (the “Business”) for an enterprise value of $1.8 billion, including $1.66 billion in cash consideration and $140.0 million in assumed liabilities and minority interest (the “Transaction”). The purchase price is subject to certain adjustments pursuant to the Purchase Agreement. Accordingly, the accompanying Condensed Consolidated Financial Statements for all periods presented reflect the Air and Gas Handling business as a discontinued operation. See Note 3, “Discontinued Operations”, for further information. On February 22, 2019, Colfax completed the purchase of DJO Global, Inc. (“DJO”, “DJO Acquisition”) pursuant to the previously disclosed Agreement and Plan of Merger (the “Merger Agreement”), dated November 19, 2018. Colfax paid an aggregate purchase price of $3.15 billion, subject to certain adjustments set forth in the Merger Agreement (the “Purchase Price”). DJO is a global leader in orthopedic solutions, providing orthopedic devices, reconstructive implants, software and services spanning the full continuum of patient care, from injury prevention to rehabilitation. On December 11, 2017, the Company completed the sale of its Fluid Handling business (“Fluid Handling”). Accordingly, the accompanying Condensed Consolidated Financial Statements for all periods presented reflect the Fluid Handling business as a discontinued operation. See Note 3, “Discontinued Operations”, for further information. The Condensed Consolidated Financial Statements included in this quarterly report have been prepared by the Company in accordance with the rules and regulations of the Securities and Exchange Commission (“SEC”) and accounting principles generally accepted in the United States of America (“GAAP”) for interim financial statements. The Condensed Consolidated Balance Sheet as of December 31, 2018 is derived from the Company’s audited financial statements. Certain information and footnote disclosures normally included in financial statements prepared in accordance with GAAP have been omitted in accordance with the SEC’s rules and regulations for interim financial statements. The Condensed Consolidated Financial Statements included herein should be read in conjunction with the audited financial statements and related footnotes included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2018 (the “2018 Form 10-K”), filed with the SEC on February 21, 2019. The Condensed Consolidated Financial Statements reflect, in the opinion of management, all adjustments, which consist solely of normal recurring adjustments, necessary to present fairly the Company’s financial position and results of operations as of and for the periods indicated. Intercompany transactions and accounts are eliminated in consolidation. The Company makes certain estimates and assumptions in preparing its Condensed Consolidated Financial Statements in accordance with GAAP. These estimates and assumptions affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the Condensed Consolidated Financial Statements and the reported amounts of revenues and expenses for the periods presented. Actual results may differ from those estimates. The results of operations for the three and six months ended June 28, 2019 are not necessarily indicative of the results of operations that may be achieved for the full year. Quarterly results are affected by seasonal variations in the Company’s business, and our European operations typically experience a slowdown during the July, August and December holiday seasons. General economic conditions may, however, impact future seasonal variations.

Recently Issued Accounting Pronouncements (Text Block)

6 Months Ended

Jun. 28, 2019

Accounting Policies [Abstract]

New Accounting Pronouncements, Policy [Policy Text Block]

Recently Issued Accounting Pronouncements

Accounting Guidance Implemented in 2019



Standards Adopted	Description	Effective Date
ASU 2016-02, Leases (Topic 842)	The standard requires a lessee to recognize assets and liabilities associated with the rights and obligations attributable to most leases but also recognize expenses similar to current lease accounting. The standard also requires certain qualitative and quantitative disclosures designed to assess the amount, timing and uncertainty of cash flows arising from leases, along with additional key information about leasing arrangements. The new guidance can be adopted using a modified retrospective transition and provides for certain practical expedients. The Company adopted ASU No. 2016-02, “Leases (Topic 842)”, as of January 1, 2019, using the modified retrospective approach. The modified retrospective approach provides a method for recording existing leases at adoption and in comparative periods that approximates the results of a full retrospective approach without restating prior periods. In addition, the Company elected the package of practical expedients permitted under the transition guidance within the new standard, which among other things, allowed historical lease classification to be carried forward. Additionally, the Company elected the practical expedient to consolidate less significant non-lease components into the lease component for all asset classes. The Company made an accounting policy election, as permitted by Topic 842 to only record a right-of-use asset and related liability for leases with an initial term in excess of 12 months. The Company will recognize those lease payments in the Consolidated Statement of Operations on a straight-line basis over the lease term. The Company recognized a right-of-use asset of $153.9 million, with corresponding related lease liabilities on the Condensed Consolidated Balance Sheet. For more information, refer to Note 10, “Leases”.	January 1, 2019
ASU 2018-02, Income Statement - Reporting Comprehensive Income (Topic 220): Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income	The standard provides entities the option to reclassify to retained earnings the tax effects resulting from the U.S. Tax Cuts and Jobs Act of 2017 (the “Tax Act”) related to items stranded in accumulated other comprehensive income. The new guidance was applied retrospectively as of January 1, 2019. As a result of this new accounting guidance, $15.4 million of tax benefit formerly booked to Other Comprehensive Income was reclassified to retained earnings.	January 1, 2019

New Accounting Guidance to be Implemented



Standards Pending Adoption	Description	Anticipated Impact	Effective/Adoption Date
ASU No. 2016-13, Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments	The ASU eliminates the probable initial recognition threshold under current U.S. GAAP and broadens the information an entity must consider when developing its expected credit loss estimates to include forward-looking information.	The Company is currently evaluating the impact of this ASU on its consolidated financial statements.	January 1, 2020
ASU 2018-13, Fair Value Measurement (Topic 820): Disclosure Framework-Changes to the Disclosure Requirements for Fair Value Measurement	The ASU modifies the disclosure requirements for fair value measurements.	The Company is currently evaluating the impact of this ASU on its consolidated financial statements and the timing of adoption.	January 1, 2020
ASU 2018-14, Compensation - Retirement Benefits - Defined Benefit Plans - General (Topic 715-20): Disclosure Framework - Changes to the Disclosure Requirements for Defined Benefit Plans	The ASU modifies the disclosure requirements for employers that sponsor defined benefit pension or other postretirement plans.	The Company is currently evaluating the impact of this ASU on its consolidated financial statements and the timing of adoption.	January 1, 2021

Discontinued Operations (Notes)

6 Months Ended

Jun. 28, 2019

Discontinued Operations [Abstract]

Disposal Groups, Including Discontinued Operations, Disclosure [Text Block]

Discontinued Operations

Sale of Air and Gas Handling Business

As discussed previously in Note 1, “General,” the Company entered into the Purchase Agreement to sell its Air and Gas Handling business to KPS. The sale is expected to close during the year ending December 31, 2019.

The accounting requirements for reporting a business to be divested as a discontinued operation were met during the three months ended June 28, 2019. Accordingly, the accompanying Condensed Consolidated Financial Statements for all periods presented reflect the Air and Gas Handling business as a discontinued operation. The Air and Gas Handling business had revenues of $659.9 million for the six-month period ended June 28, 2019 and $1,473.7 million for the year ended December 31, 2018.

The total consideration for the sale is $1.8 billion, including $1.66 billion in cash consideration and $140.0 million in assumed liabilities and minority interest. The purchase price is subject to certain adjustments pursuant to the Purchase Agreement.

Based on the purchase price and the carrying value of the net assets being sold, the Company recorded an impairment loss of $481 million which is included in Loss from discontinued operations, net of taxes in the Condensed Consolidated Statement of Operations. The impairment loss includes a $449.0 million goodwill impairment charge and a $32.0 million valuation allowance on assets held for sale relating to the estimated cost to sell the disposal group. Accumulated other comprehensive loss of approximately $350 million associated with the Air and Gas Handling business was included in the determination of the goodwill impairment charge, which is mostly attributable to the recognition of cumulative foreign currency translation effects from the long-term strengthening of the U.S. Dollar.

In connection with the Purchase Agreement, the Company and KPS entered into various agreements to provide a framework for their relationship after the disposition, including a transition services agreement. The amount to be billed for future transition services under the above agreements is not expected to be material to the Company’s results of operations.

The key components of Loss from discontinued operations, net of taxes related to the Air and Gas Handling business for the three and six months ended June 28, 2019 and June 29, 2018 were as follows:



	Three Months Ended						Six Months Ended
	June 28, 2019			June 29, 2018			June 28, 2019			June 29, 2018
	(In thousands)
Net sales	$	336,159		$	364,431		$	659,908		$	712,083
Cost of sales	231,840			268,922			458,312			530,537
Selling, general and administrative expense	61,705			68,836			129,445			131,491
Restructuring and other related charges	3,812			6,393			8,367			11,891
Held for sale impairment loss	481,000			—			481,000			—
Divestiture-related expense, net⁽¹⁾	4,656			—			7,211			—
Operating income	(446,854		)	20,280			(424,427		)	38,164
Interest expense (income)⁽²⁾	18,820			(3,256		)	26,120			(2,576		)
Pension settlement loss	—			—			43,774			—
(Loss) income from discontinued operations before income taxes	(465,674		)	23,536			(494,321		)	40,740
Income tax expense (benefit)	1,198			3,871			(4,422		)	9,956
(Loss) income from discontinued operations, net of taxes	$	(466,872	)	$	19,665		$	(489,899	)	$	30,784

(1) Primarily related to professional and consulting fees associated with the divestiture including due diligence and preparation of regulatory filings, as well as other disposition-related activities.

(2) The Company reclassified interest expense associated with its New Term Loan Facilities, which requires mandatory repayment using the net proceeds from the sale of the Air and Gas Handling business.

Total income attributable to noncontrolling interest related to our Air and Gas Handling business, net of taxes was $1.7 million, $2.7 million, $4.4 million, and $6.5 million for the three months ended June 28, 2019 and June 29, 2018 and the six months ended June 28, 2019 and June 29, 2018, respectively.

The following table summarizes the major classes of assets and liabilities held for sale that were included in the Company’s consolidated balance sheets as of June 28, 2019 and December 31, 2018:



	June 28, 2019			December 31, 2018
	(In thousands)
ASSETS HELD FOR SALE
Cash and cash equivalents	$	100,281		$	167,866
Trade receivables, less allowance for doubtful accounts of $9,738 and $8,308	547,038			602,830
Inventories, net	149,799			136,880
Other current assets	49,714			89,668
Property, plant, and equipment, net	180,952			176,189
Goodwill	633,419			1,078,785
Intangible assets, net	375,285			384,613
Other assets	117,495			101,118
Valuation allowance on assets held for sale	(32,000		)	—
Total assets held for sale	2,121,983			2,737,949
Less: current portion	2,121,983			997,244
Total assets held for sale, less current portion	$	—		$	1,740,705

LIABILITIES HELD FOR SALE
Current portion of long-term debt	$	2,256		$	1,314
Accounts payable	288,974			349,434
Customer advances and billings in excess of costs incurred	158,039			130,480
Accrued liabilities	94,597			131,020
Other liabilities	150,518			95,395
Total liabilities held for sale	694,384			707,643
Less: current portion	694,384			612,248
Total liabilities held for sale, less current portion	$	—		$	95,395

Cash provided by operating activities of discontinued operations related to the sale of the Air and Gas Handling business for the six months ended June 28, 2019 and June 29, 2018 was $23.9 million and $32.1 million, respectively. Cash used in investing activities of discontinued operations related to the sale of the Air and Gas Handling business was $19.3 million for the six months ended June 28, 2019. Cash provided by investing activities of discontinued operations related to the sale of the Air and Gas Handling business was $7.9 million for the six months ended June 29, 2018.

Sale of Fluid Handling Business

The Company sold its Fluid Handling business to CIRCOR International, Inc. (“CIRCOR”) on December 11, 2017. After certain post-closing adjustments, total consideration for the sale was $860.6 million, consisting of $551.0 million of cash, 3.3 million shares of CIRCOR common stock (“CIRCOR Shares”), and assumption of $168.0 million of net retirement liabilities. All cash consideration was collected as of June 29, 2018.

During the three months ended June 29, 2018, the Company sold its CIRCOR Shares for $139.5 million, net of $5.8 million of underwriters' fees. A related gain of $4.6 million was recorded in the Consolidated Statements of Operations for the three months ended June 29, 2018.

The key components of Loss from discontinued operations related to the Fluid Handling business for the three and six months ended June 28, 2019 and June 29, 2018 were as follows:



	Three months ended						Six Months Ended
	June 28, 2019			June 29, 2018			June 28, 2019			June 29, 2018
	(In thousands)
Selling, general and administrative expense⁽¹⁾	$	2,120		$	2,123		$	4,427		$	4,594
Divestiture-related expense, net⁽²⁾	455			1,283			581			2,358
Operating loss	(2,575		)	(3,406		)	(5,008		)	(6,952		)
Loss on disposal	—			(4,337		)	—			(4,337		)
Loss from discontinued operations before income taxes	(2,575		)	(7,743		)	(5,008		)	(11,289		)
Income tax (benefit) expense⁽³⁾	(630		)	17,986			382			17,277
Loss from discontinued operations, net of taxes	$	(1,945	)	$	(25,729	)	$	(5,390	)	$	(28,566	)

(1) Pursuant to the purchase agreement, the Company retained its asbestos-related contingencies and insurance coverages. However, as the Company did not retain an interest in the ongoing operations of the business subject to the contingencies, the Company has classified asbestos-related activity in its Condensed Consolidated Statements of Operations as part of Loss from discontinued operations. See Note 15, “Commitments and Contingencies” for further information.

(2) Primarily related to professional and consulting fees associated with the divestiture including due diligence and preparation of regulatory filings, as well as employee benefit arrangements and other disposition-related activities.

(3) Income tax expense for the three months ended June 29, 2018 was primarily related to incremental tax expense recognized due to changes in the estimated gain allocation by jurisdiction.

The Company did not have material cash flows for discontinued operations related to the sale of the Fluid Handling business during the six-month periods ended June 28, 2019 and June 29, 2018.

Acquisitions Acquisitions (Notes)

6 Months Ended

Jun. 28, 2019

Business Combinations [Abstract]

Business Combination Disclosure [Text Block]

Acquisition

On February 22, 2019, Colfax completed the purchase of DJO Global, Inc. (“DJO”, “DJO Acquisition”) pursuant to the previously disclosed Agreement and Plan of Merger (the “Merger Agreement”), dated November 19, 2018. Colfax paid an aggregate net purchase price of $3.15 billion, subject to certain adjustments set forth in the Merger Agreement (the “Purchase Price”). See Note 8, “Equity” and Note 11, “Debt” for a discussion of the respective financing components of the DJO Acquisition.

DJO is a global leader in orthopedic solutions, providing orthopedic devices, reconstructive implants, software and services spanning the full continuum of patient care, from injury prevention to rehabilitation. DJO has approximately 5,000 employees across 18 locations around the world. The acquisition is expected to evolve the Company to higher margins, faster growth, and lower cyclicality, while providing opportunities for significant bolt-on and adjacent acquisitions over time. The value included as Goodwill for this acquisition is reflective of these expected benefits in conjunction with anticipated synergies as the Company uses Colfax Business System (“CBS”) to drive further operating improvement, margin expansion, and long-term growth. CBS is the Company’s business management system, combining a comprehensive set of tools and repeatable, teachable processes, that the Company uses to create superior value for its customers, shareholders and associates.

During the three and six months ended June 28, 2019, the Company incurred $2.7 million and $56.0 million, respectively, of advisory, legal, audit, valuation and other professional service fees in connection with the DJO Acquisition, which are included in Selling, general and administrative expense in the Condensed Consolidated Statement of Operations. As of June 28, 2019, there is $0.5 million related to these expenses included in Accrued liabilities in the Condensed Consolidated Balance Sheet.

The DJO Acquisition was accounted for using the acquisition method of accounting and accordingly, the Condensed Consolidated Financial Statements include the financial position and results of operations from the date of acquisition. The following unaudited proforma financial information presents Colfax’s consolidated financial information assuming the acquisition had taken place on January 1, 2018. These amounts are presented in accordance with GAAP, consistent with the Company’s accounting policies.



	Three Months Ended				Six Months Ended
	June 28, 2019		June 29, 2018		June 28, 2019		June 29, 2018
	(Unaudited, in thousands)
Net sales	$	908,647	$	865,694	$	1,761,732	$	1,691,596
Net income from continuing operations attributable to Colfax Corporation	51,046		40,904		65,181		42,607

The following table summarizes the Company’s best initial estimate of the aggregate fair value of the assets acquired and liabilities assumed at the date of acquisition. These amounts, including inventories, deferred taxes, intangible assets, useful lives of the intangible assets, and property, plant and equipment, are determined based upon certain valuations and studies that have yet to be finalized. Accordingly, the assets acquired and liabilities assumed, as detailed below, are subject to adjustment once the detailed analyses are completed, which could be material. Substantially all of the Goodwill recognized is not expected to be deductible for income tax purposes.



	February 22, 2019
	(In thousands)
Trade receivables	$	160,254
Inventories	208,736
Property, plant and equipment	171,232
Goodwill	1,380,237
Intangible assets	1,737,000
Accounts payable	(108,503		)
Other assets and liabilities, net	(401,993		)
Total	3,146,963
Less: net assets attributable to noncontrolling interest	(1,862		)
Consideration, net of cash acquired	$	3,145,101

The following table summarizes preliminary Intangible assets acquired, excluding Goodwill, as of February 22, 2019:



	Intangible Asset (In thousands)		Weighted-Average Amortization Period (Years)

Trademarks	$	479,000	16
Customer relationships	954,000		14
Acquired technology	304,000		12
Intangible assets	$	1,737,000

Revenue (Notes)

6 Months Ended

Jun. 28, 2019

Revenue Recognition, Milestone Method [Line Items]

Revenue from Contract with Customer [Text Block]

Revenue

The Company’s Fabrication Technology segment formulates, develops, manufactures and supplies consumable products and equipment. Substantially all revenue from the Fabrication Technology business is recognized at a point in time. The Company further disaggregates its Fabrication Technology revenue into the following product groups:



	Three Months Ended				Six Months Ended
	June 28, 2019		June 29, 2018		June 28, 2019		June 29, 2018
	(in thousands)
Equipment	$	188,614	$	155,140	$	362,617	$	298,864
Consumables	404,121		405,717		790,502		795,266
Total	$	592,735	$	560,857	$	1,153,119	$	1,094,130

Contracts with customers in the consumables product grouping tend to have a shorter run rate, while equipment contracts can sometimes be longer-term in nature.

The Company’s Medical Technology segment provides products and services spanning the full continuum of patient care, from injury prevention to rehabilitation. While the Company’s Medical Technology sales are primarily derived from three sales channels including dealers and distributors, insurance, and direct to consumers and hospitals, substantially all its revenue is recognized at a point in time. The Company disaggregates its Medical Technology revenue into the following product groups:



	Three Months Ended June 28, 2019		Six Months Ended June 28, 2019

Prevention & Rehabilitation	$	224,936	$	312,672
Reconstructive	90,976		126,775
Total	$	315,912	$	439,447

Given the nature of the Fabrication Technology and Medical Technology businesses, the total amount of unsatisfied performance obligations with an original contract duration of greater than one year as of June 28, 2019 is immaterial.

The nature of the Company’s contracts gives rise to certain types of variable consideration, including rebates, implicit price concessions, and other discounts. The Company includes estimated amounts of variable consideration in the transaction price to the extent that it is probable there will not be a significant reversal of revenue.

In some circumstances for both over time and point in time contracts, customers are billed in advance of revenue recognition, resulting in contract liabilities. As of December 31, 2018 and 2017, total contract liabilities were $13.0 million and $17.3 million, respectively. During the three and six months ended June 28, 2019, revenue recognized that was included in the contract liability balance at the beginning of the year was $4.3 million and $8.2 million, respectively. During the three and six months ended June 29, 2018, revenue recognized that was included in the contract liability balance at the beginning of the year was $8.4 million and $16.4 million, respectively. As of June 28, 2019 and June 29, 2018, total contract liabilities were $14.7 million and $15.5 million, respectively.

Net Income Per Share (Text Block)

6 Months Ended

Jun. 28, 2019

Earnings Per Share [Abstract]

Earnings Per Share [Text Block]

Net (Loss) Income Per Share from Continuing Operations

Net (loss) income per share from continuing operations was computed as follows:



	Three Months Ended				Six Months Ended
	June 28, 2019		June 29, 2018		June 28, 2019			June 29, 2018
	(In thousands, except share data)
Computation of Net income (loss) per share from continuing operations:
Net income (loss) from continuing operations attributable to Colfax Corporation ⁽¹⁾	$	1,323	$	47,179	$	(21,537	)	$	67,289
Weighted-average shares of Common stock outstanding - basic	136,025,710		122,685,878		134,991,844			123,106,702
Net income (loss) per share from continuing operations - basic	$	0.01	$	0.38	$	(0.16	)	$	0.55
Computation of Net income (loss) per share from continuing operations - diluted:
Net income (loss) from continuing operations attributable to Colfax Corporation ⁽¹⁾	$	1,323	$	47,179	$	(21,537	)	$	67,289
Weighted-average shares of Common stock outstanding - basic	136,025,710		122,685,878		134,991,844			123,106,702
Net effect of potentially dilutive securities - stock options and restricted stock units	919,776		286,867		—			403,664
Weighted-average shares of Common stock outstanding - diluted	136,945,486		122,972,745		134,991,844			123,510,366
Net income (loss) per share from continuing operations - diluted	$	0.01	$	0.38	$	(0.16	)	$	0.54

(1) Net income (loss) from continuing operations attributable to Colfax Corporation for the respective periods is calculated using Net income (loss) from continuing operations less the continuing operations component of the income attributable to noncontrolling interest, net of taxes of $0.9 million and $2.2 million for the three and six months ended June 28, 2019 and $0.7 million and $1.3 million for the three and six months ended June 29, 2018, respectively.

For the three and six months ended June 28, 2019, the weighted-average shares of Common stock outstanding - basic includes the impact of 18.4 million shares related to the issuance of Colfax’s tangible equity units. See Note 8, “Equity” for details.

The weighted-average computation of the dilutive effect of potentially issuable shares of Common stock under the treasury stock method for the three months ended June 29, 2018 excludes 3.8 million of outstanding stock-based compensation awards as their inclusion would be anti-dilutive. The weighted-average computation of the dilutive effect of potentially issuable shares of Common stock under the treasury stock method for the six months ended June 29, 2018 excludes 3.4 million of outstanding stock-based compensation awards as their inclusion would be anti-dilutive.

Income Taxes	6 Months Ended
Income Taxes	Jun. 28, 2019
Income Tax Disclosure [Abstract]
Income Taxes	During the three and six months ended June 28, 2019, Income (loss) from continuing operations before income taxes was $8.4 million and $(11.1) million, respectively, while the Provision for income taxes was $6.2 million and $8.2 million, respectively. The effective tax rates were 73.6% and (73.6)% for the three and six months ended June 28, 2019, respectively. The effective tax rate for the three months ended June 28, 2019 differed from the 2019 U.S. federal statutory rate of 21% mainly due to losses in certain jurisdictions where a tax benefit is not expected to be recognized in 2019 and non-deductible deal costs. The effective tax rate for the six months ended June 28, 2019 differed from the 2019 U.S. federal statutory rate of 21% mainly due to losses in certain jurisdictions where a tax benefit is not expected to be recognized in 2019, non-deductible deal costs, and an aggregate $9.2 million unfavorable discrete U.S. income tax expense due to a change in valuation allowance and state tax expense as a result of the DJO Acquisition. During the three and six months ended June 29, 2018, Income from continuing operations before income taxes was $37.1 million and $57.7 million, respectively, while the income tax benefit was $10.8 million and $10.9 million, respectively. The effective tax rates were (29.0)% and (18.8)% for the three and six months ended June 29, 2018, respectively. The effective tax rates differ from the 2018 U.S. federal statutory rate of 21% mainly due to the effective settlement of uncertain tax positions, an enacted tax rate change in a foreign jurisdiction, valuation allowance reversals and the expected realization of certain US tax credits, offset in part by losses in certain jurisdictions where a tax benefit is not expected to be recognized in 2018. The provision for income taxes for the three and six months ended June 29, 2018 includes $19.4 million and $25.4 million of net discrete tax benefits, respectively.

Equity

6 Months Ended

Jun. 28, 2019

Equity [Abstract]

Shareholders' Equity and Share-based Payments [Text Block]

Equity

Share Repurchase Program

On February 12, 2018, the Company’s Board of Directors authorized the repurchase of up to $100 million of the Company’s Common stock from time-to-time on the open market or in privately negotiated transactions. The Board of Directors increased the repurchase authorization by an additional $100 million on June 6, 2018. On July 19, 2018, the Board of Directors increased the repurchase authorization by another $100 million. The timing, amount and method of shares repurchased is determined by management based on its evaluation of market conditions and other factors.

There were no repurchases made during the six months ended June 28, 2019. As of June 28, 2019, the remaining stock repurchase authorization provided by the Company’s Board of Directors was $100.0 million.

Accumulated Other Comprehensive Loss

The following tables present the changes in the balances of each component of Accumulated other comprehensive loss including reclassifications out of Accumulated other comprehensive loss for the six months ended June 28, 2019 and June 29, 2018. All amounts are net of tax and noncontrolling interest, if any.



	Accumulated Other Comprehensive Loss Components
	Net Unrecognized Pension and Other Post-Retirement Benefit Cost			Foreign Currency Translation Adjustment			Unrealized Gain on Hedging Activities		Total
	(In thousands)
Balance at January 1, 2019	$	(80,794	)	$	(752,989	)	$	38,238	$	(795,545	)
Other comprehensive (loss) income before reclassifications:
Foreign currency translation adjustment	582			12,802			42		13,426
Loss on long-term intra-entity foreign currency transactions	—			(9,258		)	—		(9,258		)
Gain on net investment hedges	—			—			1,451		1,451
Unrealized gain on cash flow hedges	—			—			205		205
Other comprehensive income before reclassifications	582			3,544			1,698		5,824
Amounts reclassified from Accumulated other comprehensive loss ⁽¹⁾	(8,929		)	—			—		(8,929		)
Noncontrolling interest share repurchase	—			(20,598		)	—		(20,598		)
Net Other comprehensive (loss) income	(8,347		)	(17,054		)	1,698		(23,703		)
Balance at June 28, 2019	$	(89,141	)	$	(770,043	)	$	39,936	$	(819,248	)



	Accumulated Other Comprehensive Loss Components
	Net Unrecognized Pension and Other Post-Retirement Benefit Cost			Foreign Currency Translation Adjustment			Unrealized Gain on Hedging Activities			Total
	(In thousands)
Balance at January 1, 2018	$	(84,338	)	$	(525,324	)	$	30,138		$	(579,524	)
Other comprehensive income (loss) before reclassifications:
Foreign currency translation adjustment	706			(138,014		)	(373		)	(137,681		)
Gain on long-term intra-entity foreign currency transactions	—			9,861			—			9,861
Gain on net investment hedges	—			—			8,539			8,539
Unrealized loss on cash flow hedges	—			—			(1,710		)	(1,710		)
Other comprehensive income (loss) before reclassifications	706			(128,153		)	6,456			(120,991		)
Amounts reclassified from Accumulated other comprehensive loss ⁽¹⁾	1,835			—			—			1,835
Net Other comprehensive income (loss)	2,541			(128,153		)	6,456			(119,156		)
Balance at June 29, 2018	$	(81,797	)	$	(653,477	)	$	36,594		$	(698,680	)

⁽¹⁾Included in the computation of net periodic benefit cost. The 2019 amount includes a $(10.3) million impact due to a non-U.S. pension plan settlement. See Note 13, “Net Periodic Benefit Cost - Defined Benefit Plans” for additional details.

Tangible equity unit (“TEU”) offering

The proceeds from the issuance of the TEUs were allocated to equity and debt based on the relative fair value of the respective components of each TEU as follows:



	TEU prepaid stock purchase contracts		TEU amortizing notes		Total
	(In millions, except per unit amounts)
Fair value per unit	$	84.39	$	15.61	$	100.00
Gross proceeds	388.2		71.8		460.0
Less: Issuance costs	10.4		1.9		12.3
Net proceeds	$	377.8	$	69.9	$	447.7

The $377.8 million fair value of the prepaid stock purchase contracts is recorded in Additional paid-in capital in the Condensed Consolidated Balance Sheets. The fair value of the $69.9 million of TEU amortizing notes due January 2022 has both a short-term and a long-term component. Upon the issuance of the TEUs, $47.3 million was initially recorded in Long-term debt, less current portion, while $22.6 million was initially recorded in Current portion of long-term debt in the Condensed Consolidated Balance Sheets. The Company deferred certain debt issuance costs associated with the debt component of the TEUs. These amounts offset the debt liability balance in the Condensed Consolidated Balance Sheets and are being amortized over its term.

TEU prepaid stock purchase contracts

Unless previously settled at the holder’s option, for each purchase contract the Company will deliver to holders on January 15, 2022 (subject to postponement in certain limited circumstances, the “mandatory settlement date”) a number of shares of common

stock. The number of shares of common stock issuable upon settlement of each purchase contract (the “settlement rate”) will be determined using the arithmetic average of the volume average weighted price for the 20 consecutive trading days beginning on, and including, the 21st scheduled trading day immediately preceding January 15, 2022 (“the Applicable Market Value”) with reference to the following settlement rates:


•	if the Applicable Market Value of the common stock is greater than the threshold appreciation price of $25.00, then the holder will receive 4.0000 shares of common stock for each purchase contract (the “minimum settlement rate”);


•	if the Applicable Market Value of the common stock is greater than or equal to the reference price of $20.81, but less than or equal to the threshold appreciation price of $25.00, then the holder will receive a number of shares of common stock for each purchase contract having a value, based on the Applicable Market Value, equal to $100; and


•	if the Applicable Market Value of the common stock is less than the reference price of $20.81, then the holder will receive 4.8054 shares of common stock for each purchase contract (the “maximum settlement rate”).

TEU amortizing notes

Each TEU amortizing note has an initial principal amount of $15.6099, bears interest at a rate of 6.50% per annum and has a final installment payment date of January 15, 2022. On each January 15, April 15, July 15 and October 15, commencing on April 15, 2019, the Company pays equal quarterly cash installments of $1.4375 per TEU amortizing note (except for the April 15, 2019 installment payment, which was $1.5014 per TEU amortizing note), which will constitute a payment of interest and a partial repayment of principal, and which cash payment in the aggregate per year will be equivalent to 5.75% per year with respect to the $100 stated amount per unit. During the second quarter of quarter 2019, the Company paid $6.9 million representing a partial payment of principal and interest on the TEU amortizing notes. The TEU amortizing notes are the direct, unsecured and unsubordinated obligations of the Company and rank equally with all of the existing and future other unsecured and unsubordinated indebtedness of the Company.

Earnings per share

Unless the 4.6 million stock purchase contracts are redeemed by the Company or settled earlier at the unit holder’s option, they are mandatorily convertible into shares of Colfax common stock at not less than 4.0 shares per purchase contract or more than 4.8054 shares per purchase contract on January 15, 2022. This corresponds to not less than 18.4 million shares and not more than 22.1 million shares at the maximum. The 18.4 million minimum shares are included in the calculation of weighted-average shares of Common stock outstanding - basic. The difference between the minimum and maximum shares represents potentially dilutive securities. The Company includes them in its calculation of weighted-average shares of Common stock outstanding - diluted on a pro rata basis to the extent the average Applicable Market Value is higher than the reference price but is less than the conversion price.

Repurchase of noncontrolling interest shares

During the first quarter of 2019, a South Africa consolidated subsidiary of the Company completed the repurchase of a vast majority of the noncontrolling interest shares from existing shareholders under a general offer. As of June 28, 2019, we own 100% of this subsidiary. Based on local requirements, the entity was required to enter into a debt arrangement to enact the repurchases. During the second quarter of 2019, the outstanding loan balance associated with this transaction was repaid in full.

Inventories, Net (Text Block)

6 Months Ended

Jun. 28, 2019

Inventory Disclosure [Abstract]

Inventory Disclosure [Text Block]

Inventories, Net

Inventories, net consisted of the following:



	June 28, 2019			December 31, 2018
	(In thousands)
Raw materials	$	132,088		$	120,383
Work in process	39,268			27,834
Finished goods	490,477			245,571
	661,833			393,788
Less: allowance for excess, slow-moving and obsolete inventory	(67,033		)	(34,133		)
Inventories, net	$	594,800		$	359,655

Leases

6 Months Ended

Jun. 28, 2019

Leases [Abstract]

Leases

The Company leases certain office spaces, warehouses, facilities, vehicles, and equipment. Leases with an initial term of twelve months or less are not recorded on the balance sheet. Most leases include renewal options, which can extend the lease term into the future. The Company determines the lease term by assuming options that are reasonably certain of being renewed will be exercised. Certain of the Company’s leases include rental payments adjusted for inflation. The right-of-use lease asset and lease liability are recorded on our Condensed Consolidated Balance Sheet, with the current lease liability being included in Accrued liabilities. Operating lease expense approximated cash paid for leases during the six months ended June 28, 2019.

Quantitative information regarding the Company’s leases is as follows:



	Six Months Ended June 28, 2019
	(In thousands)
Operating lease expense	$	17,821

	As of June 28, 2019
Future lease payments by year:	(In thousands)
2019	$	19,463
2020	34,291
2021	26,678
2022	19,288
2023	15,627
Thereafter	62,868
Total	178,215
Less: present value discount	(24,291		)
Present value of lease liabilities	$	153,924

Weighted-average remaining lease term (in years):
Operating leases	8.4
Weighted-average discount rate:
Operating leases	3.3		%

Debt (Text Block)

6 Months Ended

Jun. 28, 2019

Debt Disclosure [Abstract]

Debt Disclosure [Text Block]

Debt

Long-term debt consisted of the following:



	June 28, 2019			December 31, 2018
	(In thousands)
Term loans	$	1,690,871		$	485,959
Euro senior notes	394,258			395,420
TEU amortizing notes	64,747			—
2024 and 2026 notes	988,194			—
Revolving credit facilities and other	979,686			316,049
Total debt	4,117,756			1,197,428
Less: current portion	(39,524		)	(5,020		)
Long-term debt	$	4,078,232		$	1,192,408

New Term Loan Facilities and New Revolving Credit Facility

On December 17, 2018, the Company entered into a credit agreement (the “New Credit Facility”) by and among the Company, as the borrower, certain U.S. subsidiaries of the Company identified therein, as guarantors, each of the lenders party thereto, JPMorgan Chase Bank, N.A., as administrative agent, Credit Suisse Loan Funding LLC, as syndication agent, and the co-documentation agents named therein. The New Credit Facility consists of a revolving credit facility which totals $1.3 billion in commitments (the “New Revolver”) and a Term A-1 loan in an aggregate amount of $1.2 billion (the “Five Year Term Loan”), each of which matures in five years, and a Term A-2 loan in an aggregate amount of $500 million, which matures in two years (the “Two Year Term Loan” and, together with the Five Year Term Loan, the “New Term Loan Facilities”). The New Revolver contains a $50 million swing line loan sub-facility.

The initial credit extensions under the New Credit Facility were only made available to the Company on the date of consummation of the DJO Acquisition, which occurred on February 22, 2019. See Note 4, “Acquisition” for details.

The New Term Loan Facilities and the New Revolver bear interest, at the Company’s election, at either the base rate (as defined in the New Credit Facility) or the Eurocurrency rate (as defined in the New Credit Facility), in each case, plus the applicable interest rate margin. The New Term Loan Facilities and the New Revolver initially bear interest either at the Eurocurrency rate plus 1.75% or at the base rate plus 0.75%, and in future quarters will bear interest either at the Eurocurrency rate or the base rate plus the applicable interest rate margin based upon either, whichever results in the lower applicable interest rate margin (subject to certain exceptions), Colfax’s total leverage ratio and the Company’s corporate family credit rating as determined by Standard & Poor’s and Moody’s (ranging from 1.25% to 2.00%, in the case of the Eurocurrency margin, and 0.25% to 1.00%, in the case of the base rate margin). Each swing line loan denominated in dollars bears interest at the base rate plus the applicable interest rate margin and each swing line loan denominated in any other currency available under the New Credit Facility bears interest at the Eurocurrency rate plus the applicable interest rate margin.

Certain of the Company’s U.S. subsidiaries have agreed to guarantee Colfax’s obligations under the New Credit Facility.

The New Credit Facility contains customary covenants limiting the ability of Colfax and its subsidiaries to, among other things, incur debt or liens, merge or consolidate with others, dispose of assets, make investments or pay dividends. In addition, the New Credit Facility contains financial covenants requiring Colfax to maintain (subject to certain exceptions) (i) a maximum total leverage ratio, calculated as Consolidated Total Debt (as defined in the New Credit Facility) divided by EBITDA (as defined in the New Credit Facility) of, initially, 6.00:1.00, with a step-down to 5.50:1.00 at the end of the second and third fiscal quarters following the consummation of the DJO Acquisition, 4.75:1.00 at the end of the fourth and fifth fiscal quarters, 4.25:1.00 at the end of the sixth fiscal quarter, 4.00:1.00 at the end of the seventh fiscal quarter, and 3.50:1.00 at the end of the eighth fiscal quarter, and (ii) a minimum interest coverage ratio of 3.00:1:00. The New Credit Facility also contains a “springing” collateral provision, which will require the obligations under the New Credit Facility to be secured by substantially all personal property of Colfax and its U.S. subsidiaries, subject to customary exceptions, within an agreed period of time if Colfax’s total leverage ratio under the New Credit Facility is greater than or equal to 3.75:1.00 for two consecutive fiscal quarters following the fourth fiscal quarter ending after consummation of the DJO Acquisition. The New Credit Facility contains various events of default (including failure to comply with the covenants under the New Credit Facility and related agreements) and upon an event of default the lenders may,

subject to various customary cure rights, require the immediate payment of all amounts outstanding under the New Term Loan Facilities and the New Revolver.

The New Credit Facility requires that any funds received as net proceeds from the sale of any of the Company’s subsidiaries be used to repay outstanding balances on the New Term Loan Facilities. Accordingly, the majority of interest associated with the New Term Loan Facilities has been included in Loss from discontinued operations, net of taxes on the Condensed Consolidated Statement of Operations.

As of June 28, 2019, the Company is in compliance with the covenants under the New Credit Facility.

The proceeds of the loans under the New Credit Facility were used by the Company to repay in full its preexisting credit agreement (the “DB Credit Agreement”) by and among the Company, as the borrower, certain U.S. subsidiaries of the Company identified therein, as guarantors, each of the lenders party thereto and Deutsche Bank AG New York Branch, as administrative agent, swing line lender and global coordinator, as well as to pay a portion of the consideration paid by the Company in connection with the DJO Acquisition and other related fees.

In conjunction with the New Credit Facility, the Company recorded a charge to Interest expense, net in the Condensed Consolidated Statement of Operations for the six months ended June 28, 2019 of $0.8 million to write-off certain original issue discount and deferred financing fees associated with the DB Credit Agreement. In association with the New Credit Facility, the Company recorded an aggregate $12.8 million in deferred financing fees, which is being accreted to Interest expense, net primarily using the effective interest method, over the life of the New Credit Facility.

As of June 28, 2019, the weighted-average interest rate of borrowings under the New Credit Facility was 4.22%, excluding accretion of original issue discount and deferred financing fees, and there was $400.0 million available on the revolving credit facility.

Euro Senior Notes

On April 19, 2017, the Company issued senior unsecured notes with an aggregate principal amount of €350 million (the “Euro Senior Notes”). The Euro Senior Notes are due in April 2025 and have an interest rate of 3.25%. The proceeds from the Euro Senior Notes offering were used to repay borrowings under the DB Credit Agreement and bilateral credit facilities totaling €283.5 million, as well as for general corporate purposes, and are guaranteed by certain of the Company’s domestic subsidiaries (the "Guarantees"). In conjunction with the issuance, the Company recorded $6.0 million of deferred financing fees. The Euro Senior Notes and the Guarantees have not been, and will not be, registered under the Securities Act of 1933, as amended (the "Securities Act"), or the securities laws of any other jurisdiction.

TEU Amortizing Notes

On January 11, 2019, the Company issued $460 million in tangible equity units. The Company offered 4 million of its 5.75% tangible equity units at the stated amount of $100 per unit. An option to purchase up to an additional 600,000 tangible equity units at the stated amount of $100 per unit was exercised in full at settlement. Total cash of $447.7 million was received upon closing, comprised of $377.8 million TEU prepaid stock purchase contracts and $69.9 million of TEU amortizing notes due January 2022. The proceeds were used to finance a portion of the purchase price for the DJO Acquisition and for general corporate purposes. For more information, refer to Note 8, “Equity.”

2024 Notes and 2026 Notes

On February 5, 2019, two tranches of senior notes with aggregate principal amounts of $600 million (the “2024 Notes”) and $400 million (the “2026 Notes”) were issued by CFX Escrow Corporation, an unaffiliated special purpose finance entity established to issue the notes and incorporated in the State of Delaware, to finance a portion of the DJO Acquisition. The 2024 Notes are due on February 15, 2024 and have an interest rate of 6.0%. The 2026 Notes are due on February 15, 2026 and have an interest rate of 6.375%. Upon closing of the DJO Acquisition, the Company assumed all of CFX Escrow Corporation’s obligations under the 2024 Notes and 2026 Notes. Each tranche of notes is guaranteed by certain of the Company’s domestic subsidiaries.

Other Indebtedness

In addition to the debt agreements discussed above, the Company is party to various bilateral credit facilities with a borrowing capacity of $271.5 million. As of June 28, 2019, outstanding borrowings under these facilities were $60.0 million, and had a weighted average borrowing rate of 3.81%.

Additionally, as discussed in Note 8, “Equity”, the Company repurchased a vast majority of the noncontrolling interest shares of its South Africa consolidated subsidiary during the three months ended March 29, 2019. Based on local requirements, the Company was required to enter into a debt arrangement to enact the repurchases. During the three months ended June 28, 2019, the outstanding loan balance associated with this transaction was repaid. As of June 28, 2019, there is no outstanding balance on the Company’s Condensed Consolidated Balance Sheets.

The Company is also party to letter of credit facilities with total capacity of $742.6 million. Total letters of credit of $333.7 million were outstanding as of June 28, 2019.

In total, the Company has deferred financing fees of $28.5 million included in its Condensed Consolidated Balance Sheet as of June 28, 2019, which will be accreted to Interest expense, net, primarily using the effective interest method, over the life of the applicable debt agreements.

Accrued Liabilities (Text Block)

6 Months Ended

Jun. 28, 2019

Accrued Liabilities [Abstract]

Accrued Liabilities Disclosure [Text Block]

Accrued Liabilities

Accrued liabilities in the Condensed Consolidated Balance Sheets consisted of the following:



	June 28, 2019		December 31, 2018
	(In thousands)
Accrued payroll	$	92,258	$	72,216
Accrued taxes	56,712		55,554
Accrued asbestos-related liability	60,015		56,045
Warranty liability - current portion	14,281		12,312
Accrued restructuring liability - current portion	9,739		5,475
Accrued third-party commissions	26,881		15,765
Lease liability - current portion	34,524		—
Accrued interest	28,497		2,956
Other	125,651		53,694
Accrued liabilities	$	448,558	$	274,017

Warranty Liability

The activity in the Company’s warranty liability consisted of the following:



	Six Months Ended
	June 28, 2019			June 29, 2018
	(In thousands)
Warranty liability, beginning of period	$	12,312		$	10,949
Accrued warranty expense	4,163			4,318
Changes in estimates related to pre-existing warranties	764			293
Cost of warranty service work performed	(5,101		)	(3,786		)
Acquisition-related liability	2,113			—
Foreign exchange translation effect	30			(331		)
Warranty liability, end of period	$	14,281		$	11,443

Accrued Restructuring Liability

The Company’s restructuring programs include a series of actions to reduce the structural costs of the Company. A summary of the activity in the Company’s restructuring liability included in Accrued liabilities and Other liabilities in the Condensed Consolidated Balance Sheets is as follows:



	Six Months Ended June 28, 2019
	Balance at Beginning of Period		Acquisitions		Provisions		Payments			Foreign Currency Translation			Balance at End of Period⁽³⁾
	(In thousands)
Restructuring and other related charges:
Fabrication Technology:
Termination benefits⁽¹⁾	$	5,494	$	—	$	3,804	$	(6,746	)	$	(300	)	$	2,252
Facility closure costs⁽²⁾	662		—		4,432		(5,118		)	30			6
	6,156		—		8,236		(11,864		)	(270		)	2,258
Non-cash charges⁽²⁾					139
					8,375
Medical Technology:
Termination benefits⁽¹⁾	—		5,922		3,618		(3,656		)	(28		)	5,856
Facility closure costs⁽²⁾	—		—		25,422		(19,779		)	—			5,643
	—		5,922		29,040		(23,435		)	(28		)	11,499
Total	$	6,156	$	5,922	$	37,276	$	(35,299	)	$	(298	)	$	13,757
Non-cash charges⁽²⁾					139
					$	37,415

⁽¹⁾Includes severance and other termination benefits, including outplacement services.

⁽²⁾Includes the cost of relocating associates, relocating equipment and lease termination expense in connection with the closure of facilities. During the six months ended June 28, 2019, the Company recorded an $0.1 million non-cash impairment charge for facilities in our Fabrication Technology segment as part of Corporate approved restructuring activities. Restructuring charges in our Medical Technology segment during the six months ended June 28, 2019 includes costs related to product and distribution channel transformations, facilities optimization, and integration charges.

⁽³⁾As of June 28, 2019, $9.7 million and $4.0 million of the Company’s restructuring liability was included in Accrued liabilities and Other liabilities, respectively.

Net Periodic Benefit Cost-Defined Benefit Plans (Text Block)

6 Months Ended

Jun. 28, 2019

Retirement Benefits [Abstract]

Pension and Other Postretirement Benefits Disclosure [Text Block]

Net Periodic Benefit Cost - Defined Benefit Plans

The following table sets forth the components of total net periodic benefit cost of the Company’s defined benefit pension plans and other post-retirement employee benefit plans:



	Three Months Ended						Six Months Ended
	June 28, 2019			June 29, 2018			June 28, 2019			June 29, 2018
	(In thousands)
Pension Benefits - U.S. Plans:
Service cost	$	34		$	41		$	68		81
Interest cost	1,798			1,811			3,596			3,621
Expected return on plan assets	(2,660		)	(2,639		)	(5,320		)	(5,278		)
Amortization	775			914			1,551			1,828
Net periodic benefit cost	$	(53	)	$	127		$	(105	)	$	252

Pension Benefits - Non-U.S. Plans:
Service cost	$	349		$	370		$	678		$	747
Interest cost	2,253			3,987			4,529			6,160
Expected return on plan assets	(2,269		)	(4,349		)	(4,558		)	(6,877		)
Settlement loss	—			273			—			—
Amortization	97			—			185			542
Net periodic benefit cost	$	430		$	281		$	834		572

Other Post-Retirement Benefits:
Service cost	$	1		$	7		$	3		13
Interest cost	122			123			244			246
Amortization	(37		)	(22		)	(75		)	(44		)
Net periodic benefit cost	$	86		$	108		$	172		215

During the six months ended June 28, 2019, the Company settled a non-U.S. pension plan, Howden Group Pension Plan (HGPP), in connection with a third-party buyout arrangement. As a result of the settlement, the Company is no longer responsible for any liabilities under HGPP and recognized a loss of $43.8 million, which is now reflected in Loss from discontinued operations, net of taxes.

Financial Instruments and Fair Value Measurements (Text Block)

6 Months Ended

Jun. 28, 2019

Financial Instruments and Fair Value Measurements [Abstract]

Fair Value Assets and Liabilities Measured On Recurring and Nonrecurring Basis [Text Block]

Financial Instruments and Fair Value Measurements

The carrying values of financial instruments, including Trade receivables and Accounts payable, approximate their fair values due to their short-term maturities. The $4.1 billion and $1.2 billion estimated fair value of the Company’s debt as of June 28, 2019 and December 31, 2018, respectively, was based on current interest rates for similar types of borrowings and is in Level Two of the fair value hierarchy. The estimated fair values may not represent actual values of the financial instruments that could be realized as of the balance sheet date or that will be realized in the future.

A summary of the Company’s assets and liabilities that are measured at fair value for each fair value hierarchy level for the periods presented is as follows:



	June 28, 2019
	Level One		Level Two		Level Three		Total
	(In thousands)
Assets:
Cash equivalents	$	20,711	$	—	$	—	$	20,711
Foreign currency contracts related to sales - not designated as hedges	—		133		—		133
Foreign currency contracts related to purchases - not designated as hedges	—		749		—		749
Deferred compensation plans	—		8,224		—		8,224
	$	20,711	$	9,106	$	—	$	29,817

Liabilities:
Foreign currency contracts related to sales - not designated as hedges	$	—	$	201	$	—	$	201
Foreign currency contracts related to purchases - not designated as hedges	—		299		—		299
Deferred compensation plans	—		8,224		—		8,224
	$	—	$	8,724	$	—	$	8,724



	December 31, 2018
	Level One		Level Two		Level Three		Total
	(In thousands)
Assets:
Cash equivalents	$	5,388	$	—	$	—	$	5,388
Foreign currency contracts related to sales - not designated as hedges	—		326		—		326
Foreign currency contracts related to purchases - not designated as hedges	—		325		—		325
Deferred compensation plans	—		7,154		—		7,154
	$	5,388	$	7,805	$	—	$	13,193

Liabilities:
Foreign currency contracts related to sales - not designated as hedges	$	—	$	133	$	—	$	133
Foreign currency contracts related to purchases - not designated as hedges	—		557		—		557
Deferred compensation plans	—		7,154		—		7,154
	$	—	$	7,844	$	—	$	7,844

There were no transfers in or out of Level One, Two or Three during the six months ended June 28, 2019.

Foreign Currency Contracts

As of June 28, 2019 and December 31, 2018, the Company had foreign currency contracts with the following notional values:



	June 28, 2019		December 31, 2018
	(In thousands)
Foreign currency contracts sold - not designated as hedges	$	67,993	$	43,510
Foreign currency contracts purchased - not designated as hedges	164,787		75,102
Total foreign currency derivatives	$	232,780	$	118,612

The Company recognized the following in its Condensed Consolidated Financial Statements related to its derivative instruments:



	Three Months Ended						Six Months Ended
	June 28, 2019			June 29, 2018			June 28, 2019			June 29, 2018
	(In thousands)
Contracts Designated as Hedges:
Unrealized gain (loss) on net investment hedges⁽¹⁾	$	(4,002	)	$	15,769		$	1,451		$	8,539
Contracts Not Designated in a Hedge Relationship:
Foreign Currency Contracts - related to customer sales contracts:
Unrealized (loss) gain	(179		)	735			(208		)	1,649
Realized (loss) gain	(409		)	(600		)	(1,067		)	547
Foreign Currency Contracts - related to supplier purchases contracts:
Unrealized gain (loss)	1,006			(787		)	651			(1,805		)
Realized gain (loss)	187			204			454			(324		)

⁽¹⁾The unrealized gain (loss) on net investment hedges is attributable to the change in valuation of Euro denominated debt.

Commitments and Contingencies (Text Block)

6 Months Ended

Jun. 28, 2019

Commitments and Contingencies Disclosure [Abstract]

Commitments and Contingencies Disclosure [Text Block]

Commitments and Contingencies

For further description of the Company’s litigation and contingencies, reference is made to Note 17, “Commitments and Contingencies” in the Notes to the Consolidated Financial Statements in the Company’s 2018 Form 10-K. Since the Company did not retain an interest in the ongoing operations of the divested Fluid Handling business, the retained asbestos-related activity has been classified in its Condensed Consolidated Statements of Operations as a component of Loss from discontinued operations, net of taxes.

Asbestos Contingencies

Claims activity since December 31 related to asbestos claims is as follows:



	Six Months Ended
	June 28, 2019		June 29, 2018
	(Number of claims)
Claims unresolved, beginning of period	16,417		17,737
Claims filed⁽¹⁾	2,239		2,090
Claims resolved⁽²⁾	(2,132	)	(2,253	)
Claims unresolved, end of period	16,524		17,574

⁽¹⁾Claims filed include all asbestos claims for which notification has been received or a file has been opened.

⁽²⁾Claims resolved include all asbestos claims that have been settled, dismissed or that are in the process of being settled or dismissed based upon agreements or understandings in place with counsel for the claimants.

The Company’s Condensed Consolidated Balance Sheets included the following amounts related to asbestos-related litigation:



	June 28, 2019		December 31, 2018
	(In thousands)
Long-term asbestos insurance asset⁽¹⁾	$	273,521	$	278,662
Long-term asbestos insurance receivable⁽¹⁾	64,886		62,523
Accrued asbestos liability⁽²⁾	60,015		56,045
Long-term asbestos liability⁽³⁾	274,355		288,962

⁽¹⁾Included in Other assets in the Condensed Consolidated Balance Sheets.

⁽²⁾Represents current accruals for probable and reasonably estimable asbestos-related liability costs that the Company believes the subsidiaries will pay, and unpaid legal costs related to defending themselves against asbestos-related liability claims and legal action against the Company’s insurers, which is included in Accrued liabilities in the Condensed Consolidated Balance Sheets.

⁽³⁾Included in Other liabilities in the Condensed Consolidated Balance Sheets.

Management’s analyses are based on currently known facts and assumptions. Projecting future events, such as new claims to be filed each year, the average cost of resolving each claim, coverage issues among layers of insurers, the method in which losses will be allocated to the various insurance policies, interpretation of the effect on coverage of various policy terms and limits and their interrelationships, the continuing solvency of various insurance companies, the amount of remaining insurance available, as well as the numerous uncertainties inherent in asbestos litigation could cause the actual liabilities and insurance recoveries to be higher or lower than those projected or recorded which could materially affect the Company’s financial condition, results of operations or cash flow.

Other Litigation Matters

The Company is also involved in other pending legal proceedings arising out of the ordinary course of the Company’s business. None of these legal proceedings are expected to have a material adverse effect on the financial condition, results of operations or cash flow of the Company. With respect to these proceedings and the litigation and claims described in the preceding paragraphs, management of the Company believes that it will either prevail, has adequate insurance coverage or has established appropriate accruals to cover potential liabilities. Any costs that management estimates may be paid related to these proceedings or claims are accrued when the liability is considered probable and the amount can be reasonably estimated. There can be no assurance, however, as to the ultimate outcome of any of these matters, and if all or substantially all of these legal proceedings were to be determined adverse to the Company, there could be a material adverse effect on the financial condition, results of operations or cash flow of the Company.

Segment Information (Text Block)

6 Months Ended

Jun. 28, 2019

Segment Reporting [Abstract]

Segment Reporting Disclosure [Text Block]

Segment Information

Prior to entering into the Purchase Agreement, the Company conducted its operations through three operating segments: Air and Gas Handling, Medical Technology and Fabrication Technology. Subsequent to the Purchase Agreement date, the Company conducts its continuing operations through two operating segments: Fabrication Technology and Medical Technology, which also represent the Company’s reportable segments.


▪	Fabrication Technology - a global supplier of welding equipment, cutting equipment, automated welding and cutting systems, and consumables.


•	Medical Technology - a leading provider of orthopedic solutions, providing orthopedic devices, software and services spanning the full continuum of patient care, from injury prevention to rehabilitation.

Certain amounts not allocated to the two reportable segments and intersegment eliminations are reported under the heading “Corporate and other.” The Company’s management evaluates the operating results of each of its reportable segments based upon Net sales and segment operating income, which represents Operating income before Restructuring and other related charges.

The Company’s segment results were as follows:



	Three Months Ended						Six Months Ended
	June 28, 2019			June 29, 2018			June 28, 2019			June 29, 2018
	(In thousands)
Net sales:
Fabrication Technology	$	592,735		$	560,857		$	1,153,119		$	1,094,130
Medical Technology	315,912			—			439,447			—
	$	908,647		$	560,857		$	1,592,566		$	1,094,130
Segment operating income⁽¹⁾:
Fabrication Technology	$	80,970		$	71,092		$	151,575		$	135,230
Medical Technology	4,605			—			15,287			—
Corporate and other	(17,456		)	(15,115		)	(85,579		)	(32,534		)
	$	68,119		$	55,977		$	81,283		$	102,696

⁽¹⁾Following is a reconciliation of Income (loss) from continuing operations before income taxes to segment operating income:



	Three Months Ended					Six Months Ended
	June 28, 2019		June 29, 2018			June 28, 2019			June 29, 2018
	(In thousands)
Income (loss) from continuing operations before income taxes	$	8,363	$	37,079		$	(11,125	)	$	57,740
(Gain) loss on short-term investments	—		(4,591		)	—			10,128
Interest expense, net	33,171		12,936			54,992			21,844
Restructuring and other related charges	26,585		10,553			37,416			12,984
Segment operating income	$	68,119	$	55,977		$	81,283		$	102,696

Discontinued Operations (Tables)

6 Months Ended

Jun. 28, 2019

Discontinued Operations [Abstract]

Disposal Groups, Including Discontinued Operations [Table Text Block]

The key components of Loss from discontinued operations, net of taxes related to the Air and Gas Handling business for the three and six months ended June 28, 2019 and June 29, 2018 were as follows:



	Three Months Ended						Six Months Ended
	June 28, 2019			June 29, 2018			June 28, 2019			June 29, 2018
	(In thousands)
Net sales	$	336,159		$	364,431		$	659,908		$	712,083
Cost of sales	231,840			268,922			458,312			530,537
Selling, general and administrative expense	61,705			68,836			129,445			131,491
Restructuring and other related charges	3,812			6,393			8,367			11,891
Held for sale impairment loss	481,000			—			481,000			—
Divestiture-related expense, net⁽¹⁾	4,656			—			7,211			—
Operating income	(446,854		)	20,280			(424,427		)	38,164
Interest expense (income)⁽²⁾	18,820			(3,256		)	26,120			(2,576		)
Pension settlement loss	—			—			43,774			—
(Loss) income from discontinued operations before income taxes	(465,674		)	23,536			(494,321		)	40,740
Income tax expense (benefit)	1,198			3,871			(4,422		)	9,956
(Loss) income from discontinued operations, net of taxes	$	(466,872	)	$	19,665		$	(489,899	)	$	30,784

The following table summarizes the major classes of assets and liabilities held for sale that were included in the Company’s consolidated balance sheets as of June 28, 2019 and December 31, 2018:



	June 28, 2019			December 31, 2018
	(In thousands)
ASSETS HELD FOR SALE
Cash and cash equivalents	$	100,281		$	167,866
Trade receivables, less allowance for doubtful accounts of $9,738 and $8,308	547,038			602,830
Inventories, net	149,799			136,880
Other current assets	49,714			89,668
Property, plant, and equipment, net	180,952			176,189
Goodwill	633,419			1,078,785
Intangible assets, net	375,285			384,613
Other assets	117,495			101,118
Valuation allowance on assets held for sale	(32,000		)	—
Total assets held for sale	2,121,983			2,737,949
Less: current portion	2,121,983			997,244
Total assets held for sale, less current portion	$	—		$	1,740,705

LIABILITIES HELD FOR SALE
Current portion of long-term debt	$	2,256		$	1,314
Accounts payable	288,974			349,434
Customer advances and billings in excess of costs incurred	158,039			130,480
Accrued liabilities	94,597			131,020
Other liabilities	150,518			95,395
Total liabilities held for sale	694,384			707,643
Less: current portion	694,384			612,248
Total liabilities held for sale, less current portion	$	—		$	95,395

- Definition

Tabular disclosure of information related to a disposal group. Includes, but is not limited to, a discontinued operation, disposal classified as held-for-sale or disposed of by means other than sale or disposal of an individually significant component.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 360
-SubTopic 10
-Section 50
-Paragraph 3A
-URI http://asc.fasb.org/extlink&oid=109226691&loc=SL51724579-110230

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=109222650&loc=d3e1474-107760

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 5D
-URI http://asc.fasb.org/extlink&oid=109222650&loc=SL51721677-107760

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 45
-Paragraph 11
-URI http://asc.fasb.org/extlink&oid=109222160&loc=SL51721533-107759

Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 3A
-URI http://asc.fasb.org/extlink&oid=109222650&loc=SL51721659-107760

Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 4B
-URI http://asc.fasb.org/extlink&oid=109222650&loc=SL51721665-107760

Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 360
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=109226691&loc=d3e2941-110230

Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 5C
-URI http://asc.fasb.org/extlink&oid=109222650&loc=SL51721675-107760

Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 7
-URI http://asc.fasb.org/extlink&oid=109222650&loc=SL51721683-107760

Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=109222650&loc=d3e1361-107760

Reference 11: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 5A
-URI http://asc.fasb.org/extlink&oid=109222650&loc=SL51721671-107760

Reference 12: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 5B
-URI http://asc.fasb.org/extlink&oid=109222650&loc=SL51721673-107760

Reference 13: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 4A
-URI http://asc.fasb.org/extlink&oid=109222650&loc=SL51721663-107760

+ Details

Acquisitions Acquisitions (Tables)

6 Months Ended

Jun. 28, 2019

Business Combinations [Abstract]

Business Acquisition, Pro Forma Information [Table Text Block]

These amounts are presented in accordance with GAAP, consistent with the Company’s accounting policies.



	Three Months Ended				Six Months Ended
	June 28, 2019		June 29, 2018		June 28, 2019		June 29, 2018
	(Unaudited, in thousands)
Net sales	$	908,647	$	865,694	$	1,761,732	$	1,691,596
Net income from continuing operations attributable to Colfax Corporation	51,046		40,904		65,181		42,607

Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block]



	February 22, 2019
	(In thousands)
Trade receivables	$	160,254
Inventories	208,736
Property, plant and equipment	171,232
Goodwill	1,380,237
Intangible assets	1,737,000
Accounts payable	(108,503		)
Other assets and liabilities, net	(401,993		)
Total	3,146,963
Less: net assets attributable to noncontrolling interest	(1,862		)
Consideration, net of cash acquired	$	3,145,101

Schedule of Indefinite-lived Intangible Assets Acquired as Part of Business Combination [Table Text Block]

The following table summarizes preliminary Intangible assets acquired, excluding Goodwill, as of February 22, 2019:



	Intangible Asset (In thousands)		Weighted-Average Amortization Period (Years)

Trademarks	$	479,000	16
Customer relationships	954,000		14
Acquired technology	304,000		12
Intangible assets	$	1,737,000

Revenue (Tables)

6 Months Ended

Jun. 28, 2019

Revenue [Abstract]

Schedule of Revenue by Major Customers by Reporting Segments [Table Text Block]



	Three Months Ended				Six Months Ended
	June 28, 2019		June 29, 2018		June 28, 2019		June 29, 2018
	(in thousands)
Equipment	$	188,614	$	155,140	$	362,617	$	298,864
Consumables	404,121		405,717		790,502		795,266
Total	$	592,735	$	560,857	$	1,153,119	$	1,094,130

Contracts with customers in the consumables product grouping tend to have a shorter run rate, while equipment contracts can sometimes be longer-term in nature.



	Three Months Ended June 28, 2019		Six Months Ended June 28, 2019

Prevention & Rehabilitation	$	224,936	$	312,672
Reconstructive	90,976		126,775
Total	$	315,912	$	439,447

Net Income Per Share (Tables)

6 Months Ended

Jun. 28, 2019

Earnings Per Share [Abstract]

Schedule of Earnings Per Share - Basic and Diluted [Table Text Block]

Net (loss) income per share from continuing operations was computed as follows:



	Three Months Ended				Six Months Ended
	June 28, 2019		June 29, 2018		June 28, 2019			June 29, 2018
	(In thousands, except share data)
Computation of Net income (loss) per share from continuing operations:
Net income (loss) from continuing operations attributable to Colfax Corporation ⁽¹⁾	$	1,323	$	47,179	$	(21,537	)	$	67,289
Weighted-average shares of Common stock outstanding - basic	136,025,710		122,685,878		134,991,844			123,106,702
Net income (loss) per share from continuing operations - basic	$	0.01	$	0.38	$	(0.16	)	$	0.55
Computation of Net income (loss) per share from continuing operations - diluted:
Net income (loss) from continuing operations attributable to Colfax Corporation ⁽¹⁾	$	1,323	$	47,179	$	(21,537	)	$	67,289
Weighted-average shares of Common stock outstanding - basic	136,025,710		122,685,878		134,991,844			123,106,702
Net effect of potentially dilutive securities - stock options and restricted stock units	919,776		286,867		—			403,664
Weighted-average shares of Common stock outstanding - diluted	136,945,486		122,972,745		134,991,844			123,510,366
Net income (loss) per share from continuing operations - diluted	$	0.01	$	0.38	$	(0.16	)	$	0.54

Equity (Tables)

6 Months Ended

Jun. 28, 2019

Equity [Abstract]

Tangible Equity Units

The proceeds from the issuance of the TEUs were allocated to equity and debt based on the relative fair value of the respective components of each TEU as follows:



	TEU prepaid stock purchase contracts		TEU amortizing notes		Total
	(In millions, except per unit amounts)
Fair value per unit	$	84.39	$	15.61	$	100.00
Gross proceeds	388.2		71.8		460.0
Less: Issuance costs	10.4		1.9		12.3
Net proceeds	$	377.8	$	69.9	$	447.7

Accumulated Other Comprehensive Loss



	Accumulated Other Comprehensive Loss Components
	Net Unrecognized Pension and Other Post-Retirement Benefit Cost			Foreign Currency Translation Adjustment			Unrealized Gain on Hedging Activities		Total
	(In thousands)
Balance at January 1, 2019	$	(80,794	)	$	(752,989	)	$	38,238	$	(795,545	)
Other comprehensive (loss) income before reclassifications:
Foreign currency translation adjustment	582			12,802			42		13,426
Loss on long-term intra-entity foreign currency transactions	—			(9,258		)	—		(9,258		)
Gain on net investment hedges	—			—			1,451		1,451
Unrealized gain on cash flow hedges	—			—			205		205
Other comprehensive income before reclassifications	582			3,544			1,698		5,824
Amounts reclassified from Accumulated other comprehensive loss ⁽¹⁾	(8,929		)	—			—		(8,929		)
Noncontrolling interest share repurchase	—			(20,598		)	—		(20,598		)
Net Other comprehensive (loss) income	(8,347		)	(17,054		)	1,698		(23,703		)
Balance at June 28, 2019	$	(89,141	)	$	(770,043	)	$	39,936	$	(819,248	)



	Accumulated Other Comprehensive Loss Components
	Net Unrecognized Pension and Other Post-Retirement Benefit Cost			Foreign Currency Translation Adjustment			Unrealized Gain on Hedging Activities			Total
	(In thousands)
Balance at January 1, 2018	$	(84,338	)	$	(525,324	)	$	30,138		$	(579,524	)
Other comprehensive income (loss) before reclassifications:
Foreign currency translation adjustment	706			(138,014		)	(373		)	(137,681		)
Gain on long-term intra-entity foreign currency transactions	—			9,861			—			9,861
Gain on net investment hedges	—			—			8,539			8,539
Unrealized loss on cash flow hedges	—			—			(1,710		)	(1,710		)
Other comprehensive income (loss) before reclassifications	706			(128,153		)	6,456			(120,991		)
Amounts reclassified from Accumulated other comprehensive loss ⁽¹⁾	1,835			—			—			1,835
Net Other comprehensive income (loss)	2,541			(128,153		)	6,456			(119,156		)
Balance at June 29, 2018	$	(81,797	)	$	(653,477	)	$	36,594		$	(698,680	)

Inventories, Net (Tables)

6 Months Ended

Jun. 28, 2019

Inventory Disclosure [Abstract]

Schedule of Inventory, Current [Table Text Block]

Inventories, net consisted of the following:



	June 28, 2019			December 31, 2018
	(In thousands)
Raw materials	$	132,088		$	120,383
Work in process	39,268			27,834
Finished goods	490,477			245,571
	661,833			393,788
Less: allowance for excess, slow-moving and obsolete inventory	(67,033		)	(34,133		)
Inventories, net	$	594,800		$	359,655

Leases (Tables)

6 Months Ended

Jun. 28, 2019

Leases [Abstract]

Lessee, Operating Lease, Liability, Maturity

Quantitative information regarding the Company’s leases is as follows:



	Six Months Ended June 28, 2019
	(In thousands)
Operating lease expense	$	17,821

	As of June 28, 2019
Future lease payments by year:	(In thousands)
2019	$	19,463
2020	34,291
2021	26,678
2022	19,288
2023	15,627
Thereafter	62,868
Total	178,215
Less: present value discount	(24,291		)
Present value of lease liabilities	$	153,924

Weighted-average remaining lease term (in years):
Operating leases	8.4
Weighted-average discount rate:
Operating leases	3.3		%

Debt (Tables)

6 Months Ended

Jun. 28, 2019

Debt Disclosure [Abstract]

Schedule of Debt [Table Text Block]

Long-term debt consisted of the following:



	June 28, 2019			December 31, 2018
	(In thousands)
Term loans	$	1,690,871		$	485,959
Euro senior notes	394,258			395,420
TEU amortizing notes	64,747			—
2024 and 2026 notes	988,194			—
Revolving credit facilities and other	979,686			316,049
Total debt	4,117,756			1,197,428
Less: current portion	(39,524		)	(5,020		)
Long-term debt	$	4,078,232		$	1,192,408

Accrued Liabilities (Tables)

6 Months Ended

Jun. 28, 2019

Accrued Liabilities [Abstract]

Schedule of Accrued Liabilities [Table Text Block]

Accrued liabilities in the Condensed Consolidated Balance Sheets consisted of the following:



	June 28, 2019		December 31, 2018
	(In thousands)
Accrued payroll	$	92,258	$	72,216
Accrued taxes	56,712		55,554
Accrued asbestos-related liability	60,015		56,045
Warranty liability - current portion	14,281		12,312
Accrued restructuring liability - current portion	9,739		5,475
Accrued third-party commissions	26,881		15,765
Lease liability - current portion	34,524		—
Accrued interest	28,497		2,956
Other	125,651		53,694
Accrued liabilities	$	448,558	$	274,017

Schedule of Product Warranty Liability [Table Text Block]

The activity in the Company’s warranty liability consisted of the following:



	Six Months Ended
	June 28, 2019			June 29, 2018
	(In thousands)
Warranty liability, beginning of period	$	12,312		$	10,949
Accrued warranty expense	4,163			4,318
Changes in estimates related to pre-existing warranties	764			293
Cost of warranty service work performed	(5,101		)	(3,786		)
Acquisition-related liability	2,113			—
Foreign exchange translation effect	30			(331		)
Warranty liability, end of period	$	14,281		$	11,443

Schedule of Restructuring Reserve by Type of Cost [Table Text Block]

A summary of the activity in the Company’s restructuring liability included in Accrued liabilities and Other liabilities in the Condensed Consolidated Balance Sheets is as follows:



	Six Months Ended June 28, 2019
	Balance at Beginning of Period		Acquisitions		Provisions		Payments			Foreign Currency Translation			Balance at End of Period⁽³⁾
	(In thousands)
Restructuring and other related charges:
Fabrication Technology:
Termination benefits⁽¹⁾	$	5,494	$	—	$	3,804	$	(6,746	)	$	(300	)	$	2,252
Facility closure costs⁽²⁾	662		—		4,432		(5,118		)	30			6
	6,156		—		8,236		(11,864		)	(270		)	2,258
Non-cash charges⁽²⁾					139
					8,375
Medical Technology:
Termination benefits⁽¹⁾	—		5,922		3,618		(3,656		)	(28		)	5,856
Facility closure costs⁽²⁾	—		—		25,422		(19,779		)	—			5,643
	—		5,922		29,040		(23,435		)	(28		)	11,499
Total	$	6,156	$	5,922	$	37,276	$	(35,299	)	$	(298	)	$	13,757
Non-cash charges⁽²⁾					139
					$	37,415

⁽¹⁾Includes severance and other termination benefits, including outplacement services.

⁽³⁾As of June 28, 2019, $9.7 million and $4.0 million of the Company’s restructuring liability was included in Accrued liabilities and Other liabilities, respectively.

Net Periodic Benefit Cost-Defined Benefit Plans (Tables)

6 Months Ended

Jun. 28, 2019

Retirement Benefits [Abstract]

Schedule of Net Benefit Costs [Table Text Block]

The following table sets forth the components of total net periodic benefit cost of the Company’s defined benefit pension plans and other post-retirement employee benefit plans:



	Three Months Ended						Six Months Ended
	June 28, 2019			June 29, 2018			June 28, 2019			June 29, 2018
	(In thousands)
Pension Benefits - U.S. Plans:
Service cost	$	34		$	41		$	68		81
Interest cost	1,798			1,811			3,596			3,621
Expected return on plan assets	(2,660		)	(2,639		)	(5,320		)	(5,278		)
Amortization	775			914			1,551			1,828
Net periodic benefit cost	$	(53	)	$	127		$	(105	)	$	252

Pension Benefits - Non-U.S. Plans:
Service cost	$	349		$	370		$	678		$	747
Interest cost	2,253			3,987			4,529			6,160
Expected return on plan assets	(2,269		)	(4,349		)	(4,558		)	(6,877		)
Settlement loss	—			273			—			—
Amortization	97			—			185			542
Net periodic benefit cost	$	430		$	281		$	834		572

Other Post-Retirement Benefits:
Service cost	$	1		$	7		$	3		13
Interest cost	122			123			244			246
Amortization	(37		)	(22		)	(75		)	(44		)
Net periodic benefit cost	$	86		$	108		$	172		215

Financial Instruments and Fair Value Measurements (Tables)

6 Months Ended

Jun. 28, 2019

Financial Instruments and Fair Value Measurements [Abstract]

Company's assets and liabilities measured at fair value for each fair value hierarchy level [Table Text Block]

A summary of the Company’s assets and liabilities that are measured at fair value for each fair value hierarchy level for the periods presented is as follows:



	June 28, 2019
	Level One		Level Two		Level Three		Total
	(In thousands)
Assets:
Cash equivalents	$	20,711	$	—	$	—	$	20,711
Foreign currency contracts related to sales - not designated as hedges	—		133		—		133
Foreign currency contracts related to purchases - not designated as hedges	—		749		—		749
Deferred compensation plans	—		8,224		—		8,224
	$	20,711	$	9,106	$	—	$	29,817

Liabilities:
Foreign currency contracts related to sales - not designated as hedges	$	—	$	201	$	—	$	201
Foreign currency contracts related to purchases - not designated as hedges	—		299		—		299
Deferred compensation plans	—		8,224		—		8,224
	$	—	$	8,724	$	—	$	8,724



	December 31, 2018
	Level One		Level Two		Level Three		Total
	(In thousands)
Assets:
Cash equivalents	$	5,388	$	—	$	—	$	5,388
Foreign currency contracts related to sales - not designated as hedges	—		326		—		326
Foreign currency contracts related to purchases - not designated as hedges	—		325		—		325
Deferred compensation plans	—		7,154		—		7,154
	$	5,388	$	7,805	$	—	$	13,193

Liabilities:
Foreign currency contracts related to sales - not designated as hedges	$	—	$	133	$	—	$	133
Foreign currency contracts related to purchases - not designated as hedges	—		557		—		557
Deferred compensation plans	—		7,154		—		7,154
	$	—	$	7,844	$	—	$	7,844

There were no transfers in or out of Level One, Two or Three during the six months ended June 28, 2019.

Schedule of Foreign Exchange Contracts, Notional Values

As of June 28, 2019 and December 31, 2018, the Company had foreign currency contracts with the following notional values:



	June 28, 2019		December 31, 2018
	(In thousands)
Foreign currency contracts sold - not designated as hedges	$	67,993	$	43,510
Foreign currency contracts purchased - not designated as hedges	164,787		75,102
Total foreign currency derivatives	$	232,780	$	118,612

Schedule of Derivative Instruments, Gain (Loss) in Condensed Consolidated Financial Statements [Table Text Block]

The Company recognized the following in its Condensed Consolidated Financial Statements related to its derivative instruments:



	Three Months Ended						Six Months Ended
	June 28, 2019			June 29, 2018			June 28, 2019			June 29, 2018
	(In thousands)
Contracts Designated as Hedges:
Unrealized gain (loss) on net investment hedges⁽¹⁾	$	(4,002	)	$	15,769		$	1,451		$	8,539
Contracts Not Designated in a Hedge Relationship:
Foreign Currency Contracts - related to customer sales contracts:
Unrealized (loss) gain	(179		)	735			(208		)	1,649
Realized (loss) gain	(409		)	(600		)	(1,067		)	547
Foreign Currency Contracts - related to supplier purchases contracts:
Unrealized gain (loss)	1,006			(787		)	651			(1,805		)
Realized gain (loss)	187			204			454			(324		)

⁽¹⁾The unrealized gain (loss) on net investment hedges is attributable to the change in valuation of Euro denominated debt.

Commitments and Contingencies (Tables)

6 Months Ended

Jun. 28, 2019

Commitments and Contingencies Disclosure [Abstract]

Schedule Of Loss Contingencies By Claims Quantities [Table Text Block]

Claims activity since December 31 related to asbestos claims is as follows:



	Six Months Ended
	June 28, 2019		June 29, 2018
	(Number of claims)
Claims unresolved, beginning of period	16,417		17,737
Claims filed⁽¹⁾	2,239		2,090
Claims resolved⁽²⁾	(2,132	)	(2,253	)
Claims unresolved, end of period	16,524		17,574

⁽¹⁾Claims filed include all asbestos claims for which notification has been received or a file has been opened.

Schedule Of Asbestos Related Litigation [Table Text Block]

The Company’s Condensed Consolidated Balance Sheets included the following amounts related to asbestos-related litigation:



	June 28, 2019		December 31, 2018
	(In thousands)
Long-term asbestos insurance asset⁽¹⁾	$	273,521	$	278,662
Long-term asbestos insurance receivable⁽¹⁾	64,886		62,523
Accrued asbestos liability⁽²⁾	60,015		56,045
Long-term asbestos liability⁽³⁾	274,355		288,962

⁽¹⁾Included in Other assets in the Condensed Consolidated Balance Sheets.

⁽³⁾Included in Other liabilities in the Condensed Consolidated Balance Sheets.

Segment Information (Tables)

6 Months Ended

Jun. 28, 2019

Segment Reporting [Abstract]

Schedule of Segment Reporting Information, by Segment [Table Text Block]

The Company’s segment results were as follows:



	Three Months Ended						Six Months Ended
	June 28, 2019			June 29, 2018			June 28, 2019			June 29, 2018
	(In thousands)
Net sales:
Fabrication Technology	$	592,735		$	560,857		$	1,153,119		$	1,094,130
Medical Technology	315,912			—			439,447			—
	$	908,647		$	560,857		$	1,592,566		$	1,094,130
Segment operating income⁽¹⁾:
Fabrication Technology	$	80,970		$	71,092		$	151,575		$	135,230
Medical Technology	4,605			—			15,287			—
Corporate and other	(17,456		)	(15,115		)	(85,579		)	(32,534		)
	$	68,119		$	55,977		$	81,283		$	102,696

⁽¹⁾Following is a reconciliation of Income (loss) from continuing operations before income taxes to segment operating income:



	Three Months Ended					Six Months Ended
	June 28, 2019		June 29, 2018			June 28, 2019			June 29, 2018
	(In thousands)
Income (loss) from continuing operations before income taxes	$	8,363	$	37,079		$	(11,125	)	$	57,740
(Gain) loss on short-term investments	—		(4,591		)	—			10,128
Interest expense, net	33,171		12,936			54,992			21,844
Restructuring and other related charges	26,585		10,553			37,416			12,984
Segment operating income	$	68,119	$	55,977		$	81,283		$	102,696

General General (Details) - USD ($) $ in Thousands	Feb. 22, 2019	May 15, 2019
DJO Acquisition [Member]
Business Acquisition [Line Items]
Assumed liabilities	$ 401,993
Purchase price for Merger Agreement	$ 3,150,000
Granite Holdings US Acquisition Co. \| Colfax
Business Acquisition [Line Items]
Payments for asset acquisition		$ 1,800,000
Cash consideration		1,660,000
Assumed liabilities		$ 140,000

Recently Issued Accounting Pronouncements Details Textual (Details) - USD ($) $ in Thousands	Jun. 28, 2019	Jan. 01, 2019	Dec. 31, 2018	Dec. 31, 2017
Lease asset - right of use	$ 153,924	$ 153,900	$ 0
Present value of lease liabilities	$ 153,924	153,900
Retained Earnings
Cumulative Effect of New Accounting Principle in Period of Adoption		(15,400)	(15,368)	$ (5,152)
Accumulated Other Comprehensive Loss
Cumulative Effect of New Accounting Principle in Period of Adoption		$ 15,400	$ 15,368	$ 5,152

Discontinued Operations - Effect on Income Statement and Balance Sheet (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 28, 2019	Jun. 29, 2018	Jun. 28, 2019	Jun. 29, 2018	Dec. 31, 2018
Disposal Group, Including Discontinued Operations, Statement of Income
Held for sale impairment loss			$ 481,000	$ 0
(Loss) income from discontinued operations, net of taxes	$ (468,817)	$ (6,064)	(495,289)	2,218
ASSETS HELD FOR SALE
Cash and cash equivalents	100,281		100,281		$ 167,866
Trade receivables, less allowance for doubtful accounts of $9,738 and $8,308	547,038		547,038		602,830
Inventories, net	149,799		149,799		136,880
Other current assets	49,714		49,714		89,668
Property, plant, and equipment, net	180,952		180,952		176,189
Goodwill	633,419		633,419		1,078,785
Intangible assets, net	375,285		375,285		384,613
Other assets	117,495		117,495		101,118
Valuation allowance on assets held for sale	(32,000)		(32,000)		0
Total assets held for sale	2,121,983		2,121,983		2,737,949
Less: current portion	2,121,983		2,121,983		997,244
Total assets held for sale, less current portion	0		0		1,740,705
LIABILITIES HELD FOR SALE
Current portion of long-term debt	2,256		2,256		1,314
Accounts payable	288,974		288,974		349,434
Customer advances and billings in excess of costs incurred	158,039		158,039		130,480
Accrued liabilities	94,597		94,597		131,020
Other liabilities	150,518		150,518		95,395
Total liabilities held for sale	694,384		694,384		707,643
Less: current portion	694,384		694,384		612,248
Total liabilities held for sale, less current portion	0		0		95,395
Air and Gas Handling Business [Member]
Disposal Group, Including Discontinued Operations, Statement of Income
Disposal Group, Including Discontinued Operation, Revenue	336,159	364,431	659,908	712,083	$ 1,473,700
Disposal Group, Including Discontinued Operation, Costs of Goods Sold	231,840	268,922	458,312	530,537
Selling, general and administrative expense	61,705	68,836	129,445	131,491
Divestiture-related expense, net	3,812	6,393	8,367	11,891
Held for sale impairment loss	(481,000)
Restructuring and other related items-discontinued operations	4,656	0	7,211	0
Disposal Group, Including Discontinued Operation, Operating Income (Loss)	(446,854)	20,280	(424,427)	38,164
Disposal Group, Including Discontinued Operation, Interest Income	18,820	(3,256)	26,120	(2,576)
Disposal Group, Including Discontinued Operation, Pension Settlement Gain (Loss)	0	0	43,774	0
Discontinued operation, loss on discontinued operations		0	481,000	0
(Loss) income from discontinued operations before income taxes	(465,674)	23,536	(494,321)	40,740
Income tax expense	1,198	3,871	(4,422)	9,956
(Loss) income from discontinued operations, net of taxes	(466,872)	19,665	(489,899)	30,784
LIABILITIES HELD FOR SALE
Income (Loss) from Discontinued Operations, Net of Tax, Attributable to Noncontrolling Interest	1,700	2,700	4,400	6,500
Fluid Handling Business [Member]
Disposal Group, Including Discontinued Operations, Statement of Income
Selling, general and administrative expense	2,120	2,123	4,427	4,594
Restructuring and other related items-discontinued operations	455	1,283	581	2,358
Disposal Group, Including Discontinued Operation, Operating Income (Loss)	(2,575)	(3,406)	(5,008)	(6,952)
Discontinued operation, loss on discontinued operations	0	(4,337)	0	(4,337)
(Loss) income from discontinued operations before income taxes	(2,575)	(7,743)	(5,008)	(11,289)
Income tax expense	(630)	17,986	382	17,277
(Loss) income from discontinued operations, net of taxes	$ (1,945)	$ (25,729)	$ (5,390)	$ (28,566)

Discontinued Operations - Narratives (Details) - USD ($) $ in Thousands		3 Months Ended		6 Months Ended		12 Months Ended
	Dec. 11, 2017	Jun. 28, 2019	Jun. 29, 2018	Jun. 28, 2019	Jun. 29, 2018	Dec. 31, 2018	May 15, 2019
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Held for sale impairment loss				$ 481,000	$ 0
Shares Received As Compensation For Divestiture, Value	3,300,000
Air and Gas Handling Business [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Disposal Group, Including Discontinued Operation, Revenue		$ 336,159	$ 364,431	659,908	712,083	$ 1,473,700
Held for sale impairment loss		(481,000)
Discontinued operation, loss on discontinued operations			0	(481,000)	0
Disposal Group, Including Discontinued Operation, Other Comprehensive Income (Loss)		1,700	2,700	4,400	6,500
Cash Provided by (Used in) Operating Activities, Discontinued Operations				23,900	32,100
Cash Used in Investing Activities, Discontinued Operations				(19,300)
Cash Provided by Investing Activities, Discontinued Operations					7,900
Disposal Group, Including Discontinued Operation, Other Comprehensive Income (Loss)				(350,000)
Fluid Handling Business [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Payments for asset acquisition	$ 860,600
Discontinued operation, loss on discontinued operations		$ 0	4,337	0	$ 4,337
Proceeds from Divestiture of Businesses	551,000
Debt Assumed In Sales Of Business	$ 168,000
Colfax \| Granite Holdings US Acquisition Co.
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Payments for asset acquisition							$ 1,800,000
Cash consideration							1,660,000
Assumed liabilities							$ 140,000
CIRCOR
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Proceeds from Sale of Debt and Equity Securities, FV-NI, Held-for-investment			139,500
Expense Related to Distribution or Servicing and Underwriting Fees			5,800
Gain on Sale of Investments			$ 4,600
Goodwill [Member] \| Air and Gas Handling Business [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Held for sale impairment loss				449,000
Impairment of Long-lived Assets [Member] \| Air and Gas Handling Business [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Held for sale impairment loss				$ 32,000

Acquisitions - Narrative (Details) - DJO Acquisition [Member] - USD ($) $ in Millions		3 Months Ended	6 Months Ended
	Feb. 22, 2019	Jun. 28, 2019	Jun. 28, 2019
Business Acquisition [Line Items]
Purchase price for Merger Agreement	$ 3,150.0
Professional Fees		$ 2.7	$ 56.0
Accrued Liabilities [Member]
Business Acquisition [Line Items]
Professional Fees			$ 0.5

Acquisitions - Proforma Financial Information (Details) - DJO Acquisition [Member] - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 28, 2019	Jun. 29, 2018	Jun. 28, 2019	Jun. 29, 2018
Business Acquisition [Line Items]
Net sales	$ 908,647	$ 865,694	$ 1,761,732	$ 1,691,596
Net income from continuing operations attributable to Colfax Corporation	$ 51,046	$ 40,904	$ 65,181	$ 42,607

Acquisitions - Fair Value of Assets Acquired and Liabilities Assumed (Details) - USD ($) $ in Thousands	Jun. 28, 2019	Feb. 22, 2019	Dec. 31, 2018
Business Acquisition [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill [Abstract]		$ 1,737,000
Goodwill	$ 2,822,093		$ 1,497,832
DJO Acquisition [Member]
Business Acquisition [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill [Abstract]		1,737,000
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets, Receivables		160,254
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Inventory		208,736
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Property, Plant, and Equipment		171,232
Goodwill		1,380,237
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Liabilities, Accounts Payable		(108,503)
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Liabilities		(401,993)
Business Combination, Recognized Identifiable Assets Acquired, Goodwill, and Liabilities Assumed, Net		3,146,963
Business Combination, Recognized Identifiable Assets Acquired, Goodwill, and Liabilities Assumed, Less Noncontrolling Interest		(1,862)
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net		$ 3,145,101

Acquisitions - Preliminary Assets Acquired (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 28, 2019	Feb. 22, 2019
Business Acquisition [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill [Abstract]		$ 1,737,000
Trademarks [Member]
Business Acquisition [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill [Abstract]		479,000
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life	16 years
Customer Relationships [Member]
Business Acquisition [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill [Abstract]		954,000
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life	14 years
Technology-Based Intangible Assets [Member]
Business Acquisition [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill [Abstract]		$ 304,000
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life	12 years

Revenue - Disaggregation of Revenue (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 28, 2019	Jun. 29, 2018	Jun. 28, 2019	Jun. 29, 2018
Revenue from Contract with Customer, Excluding Assessed Tax	$ 592,735	$ 560,857	$ 1,153,119	$ 1,094,130
Medical Technology
Revenue from Contract with Customer, Excluding Assessed Tax	315,912		439,447
Equipment
Revenue from Contract with Customer, Excluding Assessed Tax	188,614	155,140	362,617	298,864
Prevention & Rehabilitation \| Medical Technology
Revenue from Contract with Customer, Excluding Assessed Tax	224,936		312,672
Reconstructive \| Medical Technology
Revenue from Contract with Customer, Excluding Assessed Tax	90,976		126,775
Consumables
Revenue from Contract with Customer, Excluding Assessed Tax	$ 404,121	$ 405,717	$ 790,502	$ 795,266

Revenue - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
Revenue - Narrative (Details) - USD ($) $ in Millions	Jun. 28, 2019	Jun. 29, 2018	Jun. 28, 2019	Jun. 29, 2018	Dec. 31, 2018	Dec. 31, 2017
Revenue [Abstract]
Contract liability	$ 14.7	$ 15.5	$ 14.7	$ 15.5	$ 13.0	$ 17.3
Revenue recognized, contract liability	$ 4.3	$ 8.4	$ 8.2	$ 16.4

Net Income Per Share (Details) - USD ($)
$ / shares in Units, $ in Thousands

3 Months Ended

6 Months Ended

Jun. 28, 2019

Jun. 29, 2018

Jun. 28, 2019

Jun. 29, 2018

Earnings Per Share [Abstract]

Net income from continuing operations attributable to Colfax Corporation

$ 1,323

^[1]

$ 47,179

^[1]

$ (21,537)

$ 67,289

Weighted-average shares of Common stock outstanding - basic

136,025,710

122,685,878

134,991,844

123,106,702

Net effect of potentially dilutive securities - stock options and restricted stock units

919,776

286,867

403,664

Weighted-average shares of Common stock outstanding - diluted

136,945,486

122,972,745

134,991,844

123,510,366

Net income (loss) per share from continuing operations - diluted

$ 0.01

$ 0.38

$ (0.16)

$ 0.54

Net income (loss) from continuing operations, tax

$ 900

$ 700

$ 2,200

$ 1,300

[1]

Net income (loss) from continuing operations attributable to Colfax Corporation for the respective periods is calculated using Net income (loss) from continuing operations less the continuing operations component of the income attributable to noncontrolling interest, net of taxes of $0.9 million and $2.2 million for the three and six months ended June 28, 2019 and $0.7 million and $1.3 million for the three and six months ended June 29, 2018, respectively.

- Definition

The amount of net income (loss) derived from continuing operations during the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 45
-Paragraph 7
-URI http://asc.fasb.org/extlink&oid=109260490&loc=d3e1337-109256

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 45
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=109260490&loc=d3e1252-109256

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 220
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-04(23))
-URI http://asc.fasb.org/extlink&oid=114873765&loc=SL114874048-224260

Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 220
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04(11))
-URI http://asc.fasb.org/extlink&oid=114873790&loc=SL114874131-224263

Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-03(13))
-URI http://asc.fasb.org/extlink&oid=115205541&loc=SL114868656-224227

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 45
-Paragraph 60B
-Subparagraph (d)
-URI http://asc.fasb.org/extlink&oid=109260490&loc=SL5780133-109256

Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 220
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04(19))
-URI http://asc.fasb.org/extlink&oid=114873790&loc=SL114874131-224263

Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(21))
-URI http://asc.fasb.org/extlink&oid=115205541&loc=SL114868664-224227

+ Details

Net Income Per Share (Details Textual) - shares shares in Millions	3 Months Ended		6 Months Ended
	Jun. 28, 2019	Jun. 29, 2018	Jun. 29, 2018
Earnings Per Share, Basic
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount		3.8	3.4
Tangible Equity Unit [Member]
Earnings Per Share, Basic
Weighted Average Number Of Shares Outstanding, Tangible Equity Units, Basic	18.4

Income Taxes (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
Income Taxes (Details) - USD ($) $ in Thousands	Jun. 28, 2019	Jun. 29, 2018	Jun. 28, 2019	Jun. 29, 2018
Income Tax Disclosure [Abstract]
Income (loss) from continuing operations before income taxes	$ 8,363	$ 37,079	$ (11,125)	$ 57,740
(Benefit) provision for income taxes	$ 6,151	$ (10,764)	$ 8,193	$ (10,863)
Effective tax rate	73.60%	(29.00%)	(73.60%)	(18.80%)
Tax expense due to change in valuation allowance due to business acquisition			$ 9,200
Discrete tax benefit		$ 19,400		$ 25,400

Equity (Details - AOCI Components) - USD ($)
$ in Thousands

3 Months Ended

6 Months Ended

Jun. 28, 2019

Jun. 29, 2018

Jun. 28, 2019

Jun. 29, 2018

Dec. 31, 2018

Changes in Accumulated Other Comprehensive Loss [Line Items]

Beginning Balance

$ (780,177)

$ (579,524)

Beginning Balance, adjusted for change of accounting principle

$ (795,545)

Foreign currency translation adjustment

13,426

(137,681)

Loss on long-term intra-entity foreign currency transactions

(9,258)

9,861

Loss on net investment hedges

1,451

8,539

Unrealized gain on cash flow hedges

205

(1,710)

Other comprehensive income before reclassifications

5,824

(120,991)

Amounts reclassified from Accumulated other comprehensive loss

(8,929)

1,835

Noncontrolling interest share repurchase

20,598

Net current period other comprehensive income (loss)

(23,703)

(119,156)

Ending Balance

$ (819,248)

$ (698,680)

(819,248)

(698,680)

Net Unrecognized Pension And Other Post-Retirement Benefit Cost [Member]

Changes in Accumulated Other Comprehensive Loss [Line Items]

Beginning Balance

(80,794)

(84,338)

Foreign currency translation adjustment

582

706

Loss on long-term intra-entity foreign currency transactions

Loss on net investment hedges

Unrealized gain on cash flow hedges

Other comprehensive income before reclassifications

582

706

Amounts reclassified from Accumulated other comprehensive loss

(8,929)

1,835

Noncontrolling interest share repurchase

Net current period other comprehensive income (loss)

(8,347)

2,541

Ending Balance

(89,141)

(81,797)

(89,141)

(81,797)

Foreign Currency Translation Adjustment [Member]

Changes in Accumulated Other Comprehensive Loss [Line Items]

Beginning Balance

(752,989)

(525,324)

Foreign currency translation adjustment

12,802

(138,014)

Loss on long-term intra-entity foreign currency transactions

(9,258)

9,861

Loss on net investment hedges

Unrealized gain on cash flow hedges

Other comprehensive income before reclassifications

3,544

(128,153)

Amounts reclassified from Accumulated other comprehensive loss

Noncontrolling interest share repurchase

20,598

Net current period other comprehensive income (loss)

(17,054)

(128,153)

Ending Balance

(770,043)

(653,477)

(770,043)

(653,477)

Unrealized Gain On Hedging Activities [Member]

Changes in Accumulated Other Comprehensive Loss [Line Items]

Beginning Balance

38,238

30,138

Foreign currency translation adjustment

(373)

Loss on long-term intra-entity foreign currency transactions

Loss on net investment hedges

8,539

Unrealized gain on cash flow hedges

205

(1,710)

Other comprehensive income before reclassifications

1,698

6,456

Amounts reclassified from Accumulated other comprehensive loss

Noncontrolling interest share repurchase

Net current period other comprehensive income (loss)

1,698

6,456

Ending Balance

39,936

36,594

39,936

36,594

Designated As Hedging Instrument

Changes in Accumulated Other Comprehensive Loss [Line Items]

Loss on net investment hedges

$ 15,769

^[1]

8,539

Designated As Hedging Instrument | Unrealized Gain On Hedging Activities [Member]

Changes in Accumulated Other Comprehensive Loss [Line Items]

Loss on net investment hedges

$ (4,002)

$ 1,451

Pension Plan [Member] | Net Unrecognized Pension And Other Post-Retirement Benefit Cost [Member]

Changes in Accumulated Other Comprehensive Loss [Line Items]

Amounts reclassified from Accumulated other comprehensive loss

$ (10,300)

[1]	The unrealized gain (loss) on net investment hedges is attributable to the change in valuation of Euro denominated debt.

Equity Equity Textual (Details)		6 Months Ended
Equity Equity Textual (Details)	Jan. 11, 2019 USD ($) $ / shares shares	Jun. 28, 2019 USD ($) $ / shares shares	Apr. 15, 2019 $ / shares	Jul. 19, 2018 USD ($)	Jun. 06, 2018 USD ($)	Feb. 12, 2018 USD ($)
Gross proceeds	$ 460,000,000	$ 460,000,000.0
Tangible Equity Units Issued, Number \| shares	4,000,000
Tangible Equity Units Issued, State Rate Of Return	5.75%	6.50%
Tangible Equity Unit, Quarterly Cash Distribution \| $ / shares		$ 1.4375	$ 1.5014
Tangible Equity Unit, Quarterly Cash Distribution, Percentage		5.75%
Fair value per unit \| $ / shares	$ 100
Stock Purchase Contracts Outstanding \| shares		4,600,000
Tangible Equity Units Issued, Number, Additional Issuable \| shares	600,000
Tangible Equity Units Issued, Cash Proceeds	$ 447,700,000
Prepaid Stock Purchase Contracts, Fair Value		$ 377,800,000
Tangible Equity Units Issued, Fair Value		69,900,000
Tangible Equity Units Issued, Noncurrent		47,300,000
Tangible Equity Units Issued, Current		$ 22,600,000
Tangible Equity Unit, Reference Price \| $ / shares		$ 20.81
Tangible Equity Unit, Threshold Appreciation Price \| $ / shares		25.00
Tangible Equity Unit, Initial Principal Amount \| $ / shares		$ 15.6099
Stock Repurchase Program, Authorized Amount				$ 100,000,000	$ 100,000,000	$ 100,000,000
Stock Repurchase Program, Remaining Authorized Repurchase Amount		$ 100,000,000.0
Minimum [Member]
Shares Issued per Purchase Contract		4.0000
Tangible Equity Units, Threshold For Conversion \| shares		18,400,000
Maximum [Member]
Shares Issued per Purchase Contract		4.8054
Tangible Equity Units, Threshold For Conversion \| shares		22,100,000

Equity - Schedule of TEUs (Details) - USD ($) $ / shares in Units, $ in Millions		6 Months Ended
	Jan. 11, 2019	Jun. 28, 2019
Class of Stock [Line Items]
Fair value per unit	$ 100
Gross proceeds	$ 460.0	$ 460.0
Less: Issuance costs		12.3
Net proceeds		447.7
TEU prepaid stock purchase contracts
Class of Stock [Line Items]
Fair value per unit	$ 84.39
Gross proceeds		388.2
Less: Issuance costs		10.4
Net proceeds		377.8
TEU amortizing notes
Class of Stock [Line Items]
Fair value per unit	$ 15.61
Gross proceeds		71.8
Less: Issuance costs		1.9
Net proceeds		$ 69.9

Inventories, Net (Details) - USD ($) $ in Thousands	Jun. 28, 2019	Dec. 31, 2018
Inventory Disclosure [Abstract]
Raw materials	$ 132,088	$ 120,383
Work in process	39,268	27,834
Finished goods	490,477	245,571
Inventory, gross	661,833	393,788
Less: allowance for excess, slow-moving and obsolete inventory	(67,033)	(34,133)
Inventories, net	$ 594,800	$ 359,655

Leases (Details) - USD ($) $ in Thousands	6 Months Ended
Leases (Details) - USD ($) $ in Thousands	Jun. 28, 2019	Jan. 01, 2019
Leases [Abstract]
Operating lease expense	$ 17,821
2019	19,463
2020	34,291
2021	26,678
2022	19,288
2023	15,627
Thereafter	62,868
Total	178,215
Less: present value discount	(24,291)
Present value of lease liabilities	$ 153,924	$ 153,900
Weighted-average remaining lease term (in years):	8 years 4 months 24 days
Weighted-average discount rate:	3.30%

Debt Components (Details) - USD ($) $ in Thousands	Jun. 28, 2019	Dec. 31, 2018
Debt Instrument [Line Items]
Total Debt	$ 4,117,756	$ 1,197,428
Less: current portion	(39,524)	(5,020)
Long-term debt	4,078,232	1,192,408
Term Loan [Member]
Debt Instrument [Line Items]
Total Debt	1,690,871	485,959
Revolving credit facilities and other [Member]
Debt Instrument [Line Items]
Total Debt	979,686	316,049
Euro Senior Notes [Member]
Debt Instrument [Line Items]
Total Debt	394,258	395,420
TEU Amortizing Notes [Member]
Debt Instrument [Line Items]
Total Debt	64,747	0
2024 And 2026 Notes [Member]
Debt Instrument [Line Items]
Total Debt	$ 988,194	$ 0

Debt (Details Textual) $ / shares in Units, € in Millions, $ in Millions					6 Months Ended
	Feb. 05, 2019 USD ($)	Jan. 11, 2019 USD ($) $ / shares shares	Dec. 17, 2018 USD ($)	Apr. 19, 2017 EUR (€)	Jun. 28, 2019 USD ($)	Apr. 19, 2017 USD ($)
Repayments of Debt \| €				€ 283.5
Gross proceeds		$ 460.0			$ 460.0
Tangible Equity Units Issued, Number \| shares		4,000,000
Interest Rate of Tangible Equity Notes		5.75%			6.50%
Fair value per unit \| $ / shares		$ 100
Tangible Equity Units Issued, Cash Proceeds		$ 447.7
Proceeds from Sale of Tangible Equity Units Prepaid Stock Purchase Contracts		377.8
Proceeds from Sale of Tangible Equity Units Senior Amortizing Notes		$ 69.9
Tangible Equity Units Issued, Number, Additional Issuable \| shares		600,000
Letter of Credit Subfacility, Maximum Borrowing Capacity					$ 742.6
Letters of Credit, Amount Outstanding					333.7
Debt Instrument, Unamortized Discount					$ 28.5
2024 Notes [Member]
Proceeds from borrowings on senior unsecured notes	$ 600.0
Debt Instrument, Interest Rate, Stated Percentage	6.00%
2026 Notes [Member]
Proceeds from borrowings on senior unsecured notes	$ 400.0
Debt Instrument, Interest Rate, Stated Percentage	6.375%
DB credit agreement [Member]
Long-term Debt, Weighted Average Interest Rate					4.22%
Line of Credit Facility, Remaining Borrowing Capacity					$ 400.0
Senior Notes [Member]
Proceeds from borrowings on senior unsecured notes \| €				€ 350.0
Euro Bond Coupon Rate					3.25%
Deferred Finance Costs, Net						$ 6.0
Bilateral agreements [Member]
Long-term Debt, Weighted Average Interest Rate					3.81%
Line of Credit Facility, Maximum Borrowing Capacity					$ 271.5
Outstanding borrowings					60.0
New Revolving Credit Facility [Member]
Interest Income (Expense), Net					0.8
Deferred Finance Costs, Net					$ 12.8
New Revolving Credit Facility [Member] \| DJO Global Inc Financing Facilities [Member]
Line of Credit Facility Capacity Available for Specific Future Transaction			$ 1,300.0
Line of Credit Sub Facility Maximum Borrowing Capacity Available for Specific Future Transaction			50.0
Debt Instrument Covenant Initial Maximum Total Leverage Ratio					6.00
Debt Instrument Covenant Minimum Interest Coverage Ratio					3.00
Debt Instrument Covenant Springing Collateral Provision Minimum Total Leverage Ratio					3.75
New Revolving Credit Facility [Member] \| Term A1 Loan [Member]
Debt Instrument Available for Specific Future Transaction Term A1 Loan			1,200.0
New Revolving Credit Facility [Member] \| Term A2 Loan [Member]
Debt Instrument Available for Specific Future Transaction Term A2 Loan			$ 500.0
Eurodollar [Member] \| New Revolving Credit Facility [Member] \| DJO Global Inc Financing Facilities [Member]
Debt Instrument, Basis Spread on Variable Rate			1.75%
Base Rate [Member] \| New Revolving Credit Facility [Member] \| DJO Global Inc Financing Facilities [Member]
Debt Instrument, Basis Spread on Variable Rate			0.75%
Minimum [Member] \| Eurodollar [Member] \| New Revolving Credit Facility [Member] \| DJO Global Inc Financing Facilities [Member]
Debt Instrument, Basis Spread on Variable Rate			1.25%
Minimum [Member] \| Base Rate [Member] \| New Revolving Credit Facility [Member] \| DJO Global Inc Financing Facilities [Member]
Debt Instrument, Basis Spread on Variable Rate			0.25%
Maximum [Member] \| Eurodollar [Member] \| New Revolving Credit Facility [Member] \| DJO Global Inc Financing Facilities [Member]
Debt Instrument, Basis Spread on Variable Rate			2.00%
Maximum [Member] \| Base Rate [Member] \| New Revolving Credit Facility [Member] \| DJO Global Inc Financing Facilities [Member]
Debt Instrument, Basis Spread on Variable Rate			1.00%
Step Down at the End of the Second and Third Fiscal Quarters Following Consummation of Acquisition [Member] \| New Revolving Credit Facility [Member] \| DJO Global Inc Financing Facilities [Member]
Debt Instrument Covenant Step Down Maximum Total Leverage Ratio					5.50
Step Down at the End of the Fourth and Fifth Fiscal Quarters Following Consummation of Acquisition [Member] \| New Revolving Credit Facility [Member] \| DJO Global Inc Financing Facilities [Member]
Debt Instrument Covenant Step Down Maximum Total Leverage Ratio					4.75
Step Down at the End of the Sixth Fiscal Quarter Following Consummation of Acquisition [Member] \| New Revolving Credit Facility [Member] \| DJO Global Inc Financing Facilities [Member]
Debt Instrument Covenant Step Down Maximum Total Leverage Ratio					4.25
Step Down at the End of the Seventh Fiscal Quarter Following Consummation of Acquisition [Member] \| New Revolving Credit Facility [Member] \| DJO Global Inc Financing Facilities [Member]
Debt Instrument Covenant Step Down Maximum Total Leverage Ratio					4.00
Step Down at the End of the Eighth Fiscal Quarter Following Consummation of Acquisition [Member] \| New Revolving Credit Facility [Member] \| DJO Global Inc Financing Facilities [Member]
Debt Instrument Covenant Step Down Maximum Total Leverage Ratio					3.50

Accrued Liabilities Chart (Details) - USD ($)
$ in Thousands

Jun. 28, 2019

Dec. 31, 2018

Accrued Liabilities [Abstract]

Accrued payroll

$ 92,258

$ 72,216

Accrued taxes

56,712

55,554

Accrued asbestos-related liability

^[1]

60,015

56,045

Warranty liability - current portion

14,281

12,312

Accrued third-party commissions

26,881

15,765

Operating Lease, Liability, Current

34,524

Interest and Dividends Payable, Current

28,497

2,956

Other

125,651

53,694

Accrued liabilities

$ 448,558

$ 274,017

[1]

Represents current accruals for probable and reasonably estimable asbestos-related liability costs that the Company believes the subsidiaries will pay, and unpaid legal costs related to defending themselves against asbestos-related liability claims and legal action against the Company’s insurers, which is included in Accrued liabilities in the Condensed Consolidated Balance Sheets.

Warranty Liability Rollforward (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 28, 2019	Jun. 29, 2018
Movement in Standard Product Warranty Accrual [Roll Forward]
Warranty liability, beginning of period	$ 12,312	$ 10,949
Accrued warranty expense	4,163	4,318
Changes in estimates related to pre-existing warranties	764	293
Cost of warranty service work performed	(5,101)	(3,786)
Acquisition-related liability	2,113	0
Foreign exchange translation effect	30	(331)
Warranty liability, end of period	$ 14,281	$ 11,443

Restructuring Rollforward (Details) $ in Thousands	6 Months Ended
Restructuring Rollforward (Details) $ in Thousands	Jun. 28, 2019 USD ($)
Balance at Beginning of Period	$ 6,156
Acquisitions	5,922
Provisions before non-cash charges	37,276
Payments	(35,299)
Foreign Currency Translation	(298)
Balance at End of Period	13,757
Non cash charges	139
Provisions	37,415
Fabrication Technology
Balance at Beginning of Period	6,156
Provisions before non-cash charges	8,236
Payments	(11,864)
Foreign Currency Translation	(270)
Balance at End of Period	2,258
Non cash charges	139
Provisions	8,375
Medical Technology
Balance at Beginning of Period	0
Acquisitions	5,922
Provisions before non-cash charges	29,040
Payments	(23,435)
Foreign Currency Translation	(28)
Balance at End of Period	11,499
Termination benefits \| Fabrication Technology
Balance at Beginning of Period	5,494
Provisions before non-cash charges	3,804
Payments	(6,746)
Foreign Currency Translation	(300)
Balance at End of Period	2,252
Termination benefits \| Medical Technology
Balance at Beginning of Period	0
Acquisitions	5,922
Provisions before non-cash charges	3,618
Payments	(3,656)
Foreign Currency Translation	(28)
Balance at End of Period	5,856
Facility closure costs \| Fabrication Technology
Balance at Beginning of Period	662
Provisions before non-cash charges	4,432
Payments	(5,118)
Foreign Currency Translation	30
Balance at End of Period	6
Facility closure costs \| Medical Technology
Balance at Beginning of Period	0
Provisions before non-cash charges	25,422
Payments	(19,779)
Foreign Currency Translation	0
Balance at End of Period	$ 5,643

Accrued Liabilities (Details Textual) - USD ($) $ in Thousands	6 Months Ended
	Jun. 28, 2019	Dec. 31, 2018
Restructuring Cost and Reserve [Line Items]
Asset Impairment Charges	$ 100
Accrued Liabilities [Member]
Restructuring Cost and Reserve [Line Items]
Accrued restructuring liability - current portion	9,739	$ 5,475
Other Noncurrent Liabilities [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring Reserve, Noncurrent	$ 4,000

Net Periodic Benefit Cost-Defined Benefit Plans (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 28, 2019	Jun. 29, 2018	Jun. 28, 2019	Jun. 29, 2018
Settlement loss			$ 43,774	$ 0
Pension Plan [Member]
Service cost	$ 34	$ 41	68	81
Interest cost	1,798	1,811	3,596	3,621
Expected return on plan assets	(2,660)	(2,639)	(5,320)	(5,278)
Amortization	775	914	1,551	1,828
Net periodic benefit cost (income)	(53)	127	(105)	252
Pension Benefits - Non-U.S. Plans: [Member]
Service cost	349	370	678	747
Interest cost	2,253	3,987	4,529	6,160
Expected return on plan assets	(2,269)	(4,349)	(4,558)	(6,877)
Settlement loss	0	273	0	0
Amortization	97	0	185	542
Net periodic benefit cost (income)	430	281	834	572
Other Post-Retirement Benefits: [Member]
Service cost	1	7	3	13
Interest cost	122	123	244	246
Amortization	(37)	(22)	(75)	(44)
Net periodic benefit cost (income)	$ 86	$ 108	$ 172	$ 215

Financial Instruments and Fair Value Measurements (Details) - USD ($) $ in Billions	Jun. 28, 2019	Dec. 31, 2018
Financial Instruments and Fair Value Measurements [Abstract]
Long-term Debt, Fair Value	$ 4.1	$ 1.2

Fair Value Hierarchy (Details) - USD ($) $ in Thousands	Jun. 28, 2019	Dec. 31, 2018
Cash equivalents	$ 20,711	$ 5,388
Deferred compensation plans asset	8,224	7,154
Deferred compensation plans liability	8,224	7,154
Assets, Fair Value Disclosure	29,817	13,193
Liabilities, Fair Value Disclosure	8,724	7,844
Fair Value, Inputs, Level 1 [Member]
Cash equivalents	20,711	5,388
Assets, Fair Value Disclosure	20,711	5,388
Fair Value, Inputs, Level 2 [Member]
Deferred compensation plans asset	8,224	7,154
Deferred compensation plans liability	8,224	7,154
Assets, Fair Value Disclosure	9,106	7,805
Liabilities, Fair Value Disclosure	8,724	7,844
Foreign currency contracts related to customer sales contracts
Foreign currency contracts not designated as hedges, Assets	133	326
Foreign currency contracts not designated as hedges, Liability	201	133
Foreign currency contracts related to customer sales contracts \| Fair Value, Inputs, Level 2 [Member]
Foreign currency contracts not designated as hedges, Assets	133	326
Foreign currency contracts not designated as hedges, Liability	201	133
Foreign currency contracts related to supplier purchase contracts
Foreign currency contracts not designated as hedges, Assets	749	325
Foreign currency contracts not designated as hedges, Liability	299	557
Foreign currency contracts related to supplier purchase contracts \| Fair Value, Inputs, Level 2 [Member]
Foreign currency contracts not designated as hedges, Assets	749	325
Foreign currency contracts not designated as hedges, Liability	$ 299	$ 557

Foreign Currency Contracts Notional Values (Details) - USD ($) $ in Thousands	Jun. 28, 2019	Dec. 31, 2018
Derivative, Notional Amount	$ 232,780	$ 118,612
Foreign currency contracts related to customer sales contracts \| Not Designated As Hedging Instrument [Member]
Derivative, Notional Amount	67,993	43,510
Foreign currency contracts related to supplier purchase contracts \| Not Designated As Hedging Instrument [Member]
Derivative, Notional Amount	$ 164,787	$ 75,102

Gain (Loss) On Derivative Instruments (Details) - USD ($)
$ in Thousands

3 Months Ended

6 Months Ended

Jun. 28, 2019

Jun. 29, 2018

Jun. 28, 2019

Jun. 29, 2018

Unrealized (loss) gain on net investment hedges

$ 1,451

$ 8,539

Designated As Hedging Instrument

Unrealized (loss) gain on net investment hedges

$ 15,769

^[1]

8,539

Not Designated As Hedging Instrument [Member] | Foreign currency contracts related to customer sales contracts

Unrealized gain (loss) on Foreign Currency Contracts

$ (179)

735

(208)

1,649

Realized gain (loss) on Foreign Currency Contracts

(409)

(600)

(1,067)

547

Not Designated As Hedging Instrument [Member] | Foreign currency contracts related to supplier purchase contracts

Unrealized gain (loss) on Foreign Currency Contracts

1,006

(787)

651

(1,805)

Realized gain (loss) on Foreign Currency Contracts

$ 187

$ 204

$ 454

$ (324)

[1]	The unrealized gain (loss) on net investment hedges is attributable to the change in valuation of Euro denominated debt.

Claims Rollforward (Details) - Asbestos_claims

6 Months Ended

Jun. 28, 2019

Jun. 29, 2018

Commitments and Contingencies Disclosure [Abstract]

Claims unresolved, beginning of period

16,417

17,737

Claims filed

^[1]

2,239

2,090

Claims resolved

^[2]

(2,132)

(2,253)

Claims unresolved, end of period

16,524

17,574

[1]	Claims filed include all asbestos claims for which notification has been received or a file has been opened.
[2]	Claims resolved include all asbestos claims that have been settled, dismissed or that are in the process of being settled or dismissed based upon agreements or understandings in place with counsel for the claimants.

Asbestos Litigation (Details 1) - USD ($)
$ in Thousands

Jun. 28, 2019

Dec. 31, 2018

Commitments and Contingencies Disclosure [Abstract]

Long-term asbestos insurance asset

^[1]

$ 273,521

$ 278,662

Long-term asbestos insurance receivable

^[1]

64,886

62,523

Accrued asbestos liability

^[2]

60,015

56,045

Long-term asbestos liability

^[3]

$ 274,355

$ 288,962

[1]	Included in Other assets in the Condensed Consolidated Balance Sheets.
[2]	Represents current accruals for probable and reasonably estimable asbestos-related liability costs that the Company believes the subsidiaries will pay, and unpaid legal costs related to defending themselves against asbestos-related liability claims and legal action against the Company’s insurers, which is included in Accrued liabilities in the Condensed Consolidated Balance Sheets.
[3]	Included in Other liabilities in the Condensed Consolidated Balance Sheets.

Segment Information (Details) $ in Thousands	3 Months Ended		6 Months Ended		12 Months Ended
Segment Information (Details) $ in Thousands	Jun. 28, 2019 USD ($)	Jun. 29, 2018 USD ($)	Jun. 28, 2019 USD ($) segment	Jun. 29, 2018 USD ($)	Dec. 31, 2018 segment
Number of Operating Segments \| segment			2		3
Revenues	$ 908,647	$ 560,857	$ 1,592,566	$ 1,094,130
Income (loss) from continuing operations before income taxes	8,363	37,079	(11,125)	57,740
(Gain) loss on short-term investments	0	(4,591)	0	10,128
Interest expense	33,171	12,936	54,992	21,844
Restructuring and other related charges	26,585	10,553	37,416	12,984
Segment Operating Income (Loss)	68,119	55,977	81,283	102,696
Settlement loss			43,774	0
Fabrication Technology
Revenues	592,735	560,857	1,153,119	1,094,130
Segment Operating Income (Loss)	80,970	71,092	151,575	135,230
Medical Technology
Revenues	315,912	0	439,447	0
Segment Operating Income (Loss)	4,605	0	15,287	0
Corporate and other
Segment Operating Income (Loss)	$ (17,456)	$ (15,115)	$ (85,579)	$ (32,534)