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Nature of Operations and Summary of Significant Accounting Policies (Tables)
 12 Months Ended
Dec. 29, 2018
Accounting Policies [Abstract]  
Revenue Recognition by Product Line, Product Type, Geography and Revenue Recognition Method
The Company disaggregates its revenue from contracts with customers by product line, product type and geography as this best depicts how its revenue is affected by economic factors.

The following table presents the disaggregation of revenues by product type and geography:
(In thousands)
 
December 29, 2018
 
December 30, 2017
 
December 31, 2016
Revenues by Product Type:
 
 

 
 

 
 

Parts and Consumables
 
$
374,433

 
$
316,506

 
$
258,171

Capital
 
259,353

 
198,527

 
155,955

 
 
$
633,786

 
$
515,033

 
$
414,126

Revenues by Geography:
 
 

 
 

 
 

North America
 
$
305,618

 
$
238,483

 
$
203,063

Europe
 
174,681

 
157,994

 
115,233

Asia
 
109,688

 
78,443

 
62,703

Rest of World
 
43,799

 
40,113

 
33,127

 
 
$
633,786

 
$
515,033

 
$
414,126


See Note 11, Business Segment and Geographical Information, for information on how the Company disaggregates its revenue from contracts with customers by product line.
The following table presents revenue by revenue recognition method:
(In thousands)
 
December 29, 2018
Point in Time
 
$
577,506

Over Time
 
56,280

 
 
$
633,786
Revenue from Contract with Customers
The following tables presents contract balances from contracts with customers:
(In thousands)
 
December 29, 2018
 
December 30, 2017
Accounts receivable
 
$
92,624

 
$
89,624

Contract assets
 
$
15,741

 
$
2,374

Contract liabilities
 
$
34,774

 
$
38,702
Changes in Allowance for Doubtful Accounts
The changes in the allowance for doubtful accounts are as follows:
(In thousands)
 
December 29, 2018
 
December 30, 2017
 
December 31, 2016
Balance at Beginning of Year
 
$
2,879

 
$
2,395

 
$
2,163

Provision charged to expense
 
355

 
436

 
453

Accounts written off
 
(165
)
 
(159
)
 
(128
)
Currency translation
 
(172
)
 
207

 
(93
)
Balance at End of Year
 
$
2,897

 
$
2,879

 
$
2,395
Changes in Estimated Product Warranty Liability
The changes in the carrying amount of accrued warranty costs included in other current liabilities in the accompanying consolidated balance sheet are as follows:
(In thousands)
 
December 29, 2018
 
December 30, 2017
Balance at Beginning of Year
 
$
5,498

 
$
3,843

Provision charged to expense
 
3,708

 
2,652

Usage
 
(3,140
)
 
(2,225
)
Acquisitions
 
—

 
790

Currency translation
 
(340
)
 
438

Balance at End of Year
 
$
5,726

 
$
5,498
Cash, Cash Equivalents, and Restricted Cash
The following table provides a reconciliation of cash, cash equivalents, and restricted cash reported within the Company's consolidated balance sheet that are shown in aggregate in the consolidated statement of cash flows:
(In thousands)
 
December 29, 2018
 
December 30, 2017
 
December 31, 2016
Cash and cash equivalents
 
$
45,830

 
$
75,425

 
$
71,487

Restricted cash
 
287

 
1,421

 
2,082

Total Cash, Cash Equivalents, and Restricted Cash
 
$
46,117

 
$
76,846

 
$
73,569
Supplemental Cash Flow Information
Supplemental Cash Flow Information
(In thousands)
 
December 29, 2018
 
December 30, 2017
 
December 31, 2016
Cash Paid for Interest
 
$
7,550

 
$
2,624

 
$
1,183

Cash Paid for Income Taxes, Net of Refunds
 
$
25,654

 
$
20,559

 
$
15,632

 
 
 
 
 
 
 
Non-Cash Investing Activities:
 
 
 
 
 
 
Estimated post-closing adjustment (a)
 
$
397

 
$
—

 
$
—

 
 
 
 
 
 
 
Fair value of assets of acquired
 
$
—

 
$
242,048

 
$
84,969

Cash paid for acquired businesses
 
—

 
(206,950
)
 
(58,894
)
Liabilities Assumed of Acquired Businesses
 
$
—

 
$
35,098

 
$
26,075

 
 
 
 
 
 
 
   Non-cash additions to property, plant, and equipment
 
$
917

 
$
4,620

 
$
379

 
 
 
 
 
 
 
Non-Cash Financing Activities:
 
 

 
 

 
 

Issuance of Company common stock upon vesting of RSUs
 
$
4,231

 
$
3,192

 
$
3,463

Dividends declared but unpaid
 
$
2,444

 
$
2,316

 
$
2,078



(a) Represents an estimated post-closing purchase price adjustment related to the 2017 acquisition of certain assets of Unaflex, LLC, which is expected to be settled in early 2019.
Components of Inventory
The components of inventories are as follows:
(In thousands)
 
December 29, 2018
 
December 30, 2017
Raw Materials
 
$
44,522

 
$
38,952

Work in Process
 
15,876

 
18,203

Finished Goods (includes $494 and $1,883 at customer locations)
 
25,975

 
27,778

 
 
$
86,373

 
$
84,933
Property, Plant and Equipment
Property, plant, and equipment consist of the following:
(In thousands)
 
December 29, 2018
 
December 30, 2017
Land
 
$
7,614

 
$
7,894

Buildings
 
58,866

 
48,094

Machinery, Equipment, and Leasehold Improvements
 
100,453

 
94,779

Construction in Progress
 
3,764

 
14,464

 
 
170,697

 
165,231

Less: Accumulated Depreciation and Amortization
 
90,540

 
85,508

 
 
$
80,157

 
$
79,723
Acquired Intangible Assets
Acquired intangible assets by major asset class are as follows:
(In thousands)
 
Gross
 
Currency
Translation
 
Accumulated
Amortization
 
Net
December 29, 2018
 
 
 
 
 
 
 
 
Definite-Lived
 
 
 
 
 
 
 
 
Customer relationships
 
$
113,283

 
$
(4,520
)
 
$
(38,160
)
 
$
70,603

Product technology
 
46,501

 
(1,677
)
 
(23,563
)
 
21,261

Tradenames
 
5,227

 
(390
)
 
(1,980
)
 
2,857

Other
 
13,744

 
(127
)
 
(11,476
)
 
2,141

 
 
178,755

 
(6,714
)
 
(75,179
)
 
96,862

Indefinite-Lived
 
 
 
 
 
 
 
 
Tradenames
 
16,600

 
(115
)
 
—

 
16,485

Acquired Intangible Assets
 
$
195,355

 
$
(6,829
)
 
$
(75,179
)
 
$
113,347

 
 
 
 
 
 
 
 
 
December 30, 2017
 
 

 
 

 
 

 
 

Definite-Lived
 
 
 
 
 
 
 
 
Customer relationships
 
$
113,301

 
$
(621
)
 
$
(28,789
)
 
$
83,891

Product technology
 
46,501

 
(737
)
 
(19,841
)
 
25,923

Tradenames
 
5,227

 
(262
)
 
(1,504
)
 
3,461

Other
 
13,754

 
(35
)
 
(10,863
)
 
2,856

 
 
178,783

 
(1,655
)
 
(60,997
)
 
116,131

Indefinite-Lived
 
 
 
 
 
 
 
 
Tradenames
 
16,600

 
305

 
—

 
16,905

Acquired Intangible Assets
 
$
195,383

 
$
(1,350
)
 
$
(60,997
)
 
$
133,036
Changes in the Carrying Amount of Goodwill
The changes in the carrying amount of goodwill by segment are as follows:
(In thousands)
 
Papermaking Systems Segment
 
Wood Processing Systems Segment
 
Total
Balance as of December 31, 2016
 
 
 
 
 
 
        Gross balance
 
$
219,699

 
$
17,265

 
$
236,964

        Accumulated impairment losses
 
(85,509
)
 
—

 
(85,509
)
        Net balance
 
134,190

 
17,265

 
151,455

2017 Adjustments
 
 
 
 
 
 
Acquisitions (Note 2)
 
16,373

 
85,508

 
101,881

Currency translation
 
10,942

 
3,723

 
14,665

Total 2017 Adjustments
 
27,315

 
89,231

 
116,546

Balance at December 30, 2017
 
 

 
 

 
 

        Gross balance
 
247,014

 
106,496

 
353,510

        Accumulated impairment losses
 
(85,509
)
 
—

 
(85,509
)
        Net balance
 
161,505

 
106,496

 
268,001

2018 Adjustments
 
 
 
 
 
 
Acquisitions (Note 2)
 
(17
)
 
(75
)
 
(92
)
Currency translation
 
(5,085
)
 
(4,650
)
 
(9,735
)
Total 2018 Adjustments
 
(5,102
)
 
(4,725
)
 
(9,827
)
Balance at December 29, 2018
 
 

 
 

 
 

        Gross balance
 
241,912

 
101,771

 
343,683

        Accumulated impairment losses
 
(85,509
)
 
—

 
(85,509
)
        Net balance
 
$
156,403

 
$
101,771

 
$
258,174
Goodwill by Reporting Unit
Goodwill by reporting unit is as follows:
(In thousands)
 
December 29, 2018
 
December 30, 2017
Stock-Preparation
 
$
58,142

 
$
60,275

Fluid-Handling
 
64,052

 
65,289

Doctoring, Cleaning, & Filtration
 
34,209

 
35,941

Wood Processing Systems
 
101,771

 
106,496

 
 
$
258,174

 
$
268,001