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Revenue
 9 Months Ended
Sep. 27, 2024
Revenue from Contract with Customer [Abstract]  
Revenue Revenue
The Company provides fabrication technology advanced equipment, consumables, gas control equipment, robotics and digital solutions. The Company’s products are utilized to solve challenges in a wide range of industries. Substantially all revenue is recognized at a point in time. The Company disaggregates its revenue into the following product groups:
Three Months EndedNine Months Ended
September 27, 2024September 29, 2023September 27, 2024September 29, 2023
(In thousands)
Equipment$219,415 $209,037 $665,934 $635,305 
Consumables453,835 471,959 1,404,113 1,450,113 
Total$673,250 $680,996 $2,070,047 $2,085,418 

The sales mix in the above table is relatively consistent across both reportable segments. The consumables product grouping generally has less production complexity and shorter production cycles than equipment products.

Given the nature of the business, the total amount of unsatisfied performance obligations with an original contract duration of greater than one year as of September 27, 2024 is immaterial. In some circumstances, customers are billed in advance of revenue recognition, resulting in contract liabilities. As of December 31, 2023 and December 31, 2022, total contract liabilities were $31.2 million and $25.9 million, respectively, and were included in Accrued liabilities on the Consolidated and Condensed Balance Sheets. During the three and nine months ended September 27, 2024, revenue recognized that was included in the contract liabilities balance at the beginning of the year was $1.3 million and $22.6 million, respectively. During the three and nine months ended September 29, 2023, revenue recognized that was included in the contract liabilities balance at the
beginning of the year was $2.3 million and $16.7 million, respectively. As of September 27, 2024 and September 29, 2023, total contract liabilities were $27.8 million and $29.5 million, respectively.

Allowance for Credit Losses

A summary of the activity in the Company’s allowance for credit losses included within Trade receivables in the Consolidated and Condensed Balance Sheets is as follows:
Nine months ended September 27, 2024
Balance at
Beginning
of Period		Charged to Expense, netWrite-Offs and DeductionsForeign
Currency
Translation		Balance at
End of
Period
(In thousands)
Allowance for credit losses$25,477 $1,796 $(2,263)$(373)$24,637