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Nature of Operations and Summary of Significant Accounting Policies (Tables)
 3 Months Ended
Mar. 30, 2019
Accounting Policies [Abstract]  
Supplemental Cash Flow Information
 
 
Three Months Ended
(In thousands)
 
March 30,
2019
 
March 31,
2018
Cash Paid for Interest
 
$
2,782

 
$
2,459

Cash Paid for Income Taxes, Net of Refunds
 
$
4,679

 
$
8,455

 
 
 
 
 
Non-Cash Investing Activities:
 
 
 
 
Post-closing adjustments
 
$
1,567

 
$
397

 
 
 
 
 
   Liabilities assumed of acquired business
 
$
29,664

 
$
—

 
 
 
 
 
Non-cash additions to property, plant, and equipment
 
$
193

 
$
1,816

 
 
 
 
 
Non-Cash Financing Activities:
 
 

 
 

Issuance of Company common stock upon vesting of restricted stock units
 
$
3,278

 
$
2,755

Dividends declared but unpaid
 
$
2,570

 
$
2,440


    
Cash and Cash Equivalents
The following table provides a reconciliation of cash, cash equivalents, and restricted cash reported within the Company's condensed consolidated balance sheet that are shown in aggregate in the accompanying condensed consolidated statement of cash flows:
(In thousands)
 
March 30,
2019
 
March 31,
2018
 
December 29,
2018
 
December 30,
2017
Cash and cash equivalents
 
$
56,478

 
$
72,210

 
$
45,830

 
$
75,425

Restricted cash
 
697

 
1,532

 
287

 
1,421

Total Cash, Cash Equivalents, and Restricted Cash
 
$
57,175

 
$
73,742

 
$
46,117

 
$
76,846
Restricted Cash
The following table provides a reconciliation of cash, cash equivalents, and restricted cash reported within the Company's condensed consolidated balance sheet that are shown in aggregate in the accompanying condensed consolidated statement of cash flows:
(In thousands)
 
March 30,
2019
 
March 31,
2018
 
December 29,
2018
 
December 30,
2017
Cash and cash equivalents
 
$
56,478

 
$
72,210

 
$
45,830

 
$
75,425

Restricted cash
 
697

 
1,532

 
287

 
1,421

Total Cash, Cash Equivalents, and Restricted Cash
 
$
57,175

 
$
73,742

 
$
46,117

 
$
76,846
Inventories
The components of inventories are as follows:
 
 
March 30,
2019
 
December 29,
2018
(In thousands)
 
 
Raw Materials
 
$
46,684

 
$
44,522

Work in Process
 
20,239

 
15,876

Finished Goods
 
36,106

 
25,975

 
 
$
103,029

 
$
86,373
Acquired Intangible Assets
Acquired intangible assets by major asset class are as follows:
(In thousands)
 
Gross
 
Accumulated
Amortization
 
Currency
Translation
 
Net
March 30, 2019
 
 
 
 
 
 
 
 
Definite-Lived
 
 
 
 
 
 
 
 
Customer relationships
 
$
166,183

 
$
(41,222
)
 
$
(4,498
)
 
$
120,463

Product technology
 
57,001

 
(24,619
)
 
(1,761
)
 
30,621

Tradenames
 
5,227

 
(2,090
)
 
(419
)
 
2,718

Other
 
17,784

 
(12,581
)
 
(576
)
 
4,627

 
 
246,195

 
(80,512
)
 
(7,254
)
 
158,429

Indefinite-Lived
 
 
 
 
 
 
 
 
Tradenames
 
26,300

 
—

 
(133
)
 
26,167

Acquired Intangible Assets
 
$
272,495

 
$
(80,512
)
 
$
(7,387
)
 
$
184,596

 
 
 
 
 
 
 
 
 
December 29, 2018
 
 

 
 

 
 
 
 

Definite-Lived
 
 
 
 
 
 
 
 
Customer relationships
 
$
113,283

 
$
(38,160
)
 
$
(4,520
)
 
$
70,603

Product technology
 
46,501

 
(23,563
)
 
(1,677
)
 
21,261

Tradenames
 
5,227

 
(1,980
)
 
(390
)
 
2,857

Other
 
13,744

 
(11,476
)
 
(127
)
 
2,141

 
 
178,755

 
(75,179
)
 
(6,714
)
 
96,862

Indefinite-Lived
 
 
 
 
 
 
 
 
Tradenames
 
16,600

 
—

 
(115
)
 
16,485

Acquired Intangible Assets
 
$
195,355

 
$
(75,179
)
 
$
(6,829
)
 
$
113,347
Changes in the Carrying Amount of Goodwill
The changes in the carrying amount of goodwill by segment are as follows:
(In thousands)
 
Papermaking Systems
 
Wood Processing Systems
 
Material Handling Systems
 
Total
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

2019 Adjustments
 
 
 
 
 
 
 
 
   Acquisition (Note 2)
 
—

 
—

 
86,502

 
86,502

   Currency translation
 
(1,031
)
 
123

 
—

 
(908
)
   Total 2019 adjustments
 
(1,031
)
 
123

 
86,502

 
85,594

Balance at March 30, 2019
 
 

 
 

 
 
 
 

Gross balance
 
240,881

 
101,894

 
86,502

 
429,277

Accumulated impairment losses
 
(85,509
)
 
—

 
—

 
(85,509
)
Net balance
 
$
155,372

 
$
101,894

 
$
86,502

 
$
343,768
Warranty Obligations
The changes in the carrying amount of accrued warranty costs included in other current liabilities in the accompanying condensed consolidated balance sheet are as follows:
 
 
Three Months Ended
(In thousands)
 
March 30,
2019
 
March 31,
2018
Balance at Beginning of Year
 
$
5,726

 
$
5,498

Provision charged to expense
 
1,076

 
715

Usage
 
(925
)
 
(364
)
Acquisition
 
295

 
—

Currency translation
 
(3
)
 
61

Balance at End of Period
 
$
6,169

 
$
5,910
Revenue by Product Line, Product Type, Geography, and Revenue Recognition Method
The following table presents the disaggregation of revenues by product type and geography:
 
 
Three Months Ended
 
 
March 30,
 
March 31,
(In thousands)
 
2019
 
2018
Revenues by Product Type:
 
 

 
 

Parts and Consumables
 
$
112,850

 
$
95,985

Capital
 
58,466

 
53,208

 
 
$
171,316

 
$
149,193

Revenues by Geography:
 
 

 
 

North America
 
$
100,876

 
$
77,616

Europe
 
38,985

 
41,493

Asia
 
17,078

 
20,148

Rest of World
 
14,377

 
9,936

 
 
$
171,316

 
$
149,193



The following table presents revenue by revenue recognition method:
 
 
Three Months Ended
 
 
March 30,
 
March 31,
(In thousands)
 
2019
 
2018
Point in time
 
$
148,276

 
$
142,005

Over time
 
23,040

 
7,188

 
 
$
171,316

 
$
149,193
Balances from Contracts with Customers
The following table presents balances from contracts with customers:
 
 
March 30,
2019
 
December 29,
2018
(In thousands)
 
 
Accounts receivable
 
$
104,120

 
$
92,624

Contract assets
 
$
16,996

 
$
15,741

Contract liabilities
 
$
38,950

 
$
34,774