XML 44 R34.htm IDEA: XBRL DOCUMENT v3.19.1
Business Segment Information (Tables)
 3 Months Ended
Mar. 30, 2019
Segment Reporting [Abstract]  
Business Segment Reporting Information
The following table presents financial information for the Company's reportable operating segments:
 
 
Three Months Ended
 
 
March 30,
 
March 31,
(In thousands)
 
2019
 
2018
Revenues:
 
 
 
 
Stock-Preparation
 
$
52,048

 
$
45,483

Fluid-Handling
 
32,754

 
32,886

Doctoring, Cleaning, & Filtration
 
28,390

 
27,222

Papermaking Systems
 
$
113,192

 
$
105,591

Wood Processing Systems
 
34,049

 
39,141

Material Handling Systems (a)
 
20,584

 
—

Fiber-based Products
 
3,491

 
4,461

 
 
$
171,316

 
$
149,193

 
 
 
 
 
Income Before Provision for Income Taxes:
 
 

 
 

Papermaking Systems (b)
 
$
18,509

 
$
14,584

Wood Processing Systems (c)
 
7,270

 
7,363

Material Handling Systems (a, d)
 
(1,353
)
 
—

Corporate and Fiber-based Products (e)
 
(5,851
)
 
(5,283
)
Total operating income
 
18,575

 
16,664

Interest expense, net (f)
 
(3,448
)
 
(1,549
)
Other expense, net (f)
 
(99
)
 
(246
)
 
 
$
15,028

 
$
14,869

 
 
 
 
 
Capital Expenditures:
 
 

 
 

Papermaking Systems
 
$
1,357

 
$
4,649

Wood Processing Systems
 
551

 
376

Material Handling Systems (a)
 
38

 
—

Corporate and Fiber-based Products
 
222

 
126

 
 
$
2,168

 
$
5,151

 
 
 
 
 
 
 
March 30,
 
December 29,
(In thousands)
 
2019
 
2018
Total Assets:
 
 

 
 

Papermaking Systems
 
$
479,312

 
$
462,297

Wood Processing Systems
 
251,422

 
247,553

Material Handling Systems (a)
 
204,189

 
—

Corporate and Fiber-based Products (g)
 
23,317

 
15,899

 
 
$
958,240

 
$
725,749


(a) Represents SMH, which was acquired on January 2, 2019 (see Note 2).
(b) Includes restructuring costs of $770,000 in the three-month period ended March 31, 2018 (see Note 13).
(c) Includes acquisition-related expenses of $252,000 in the three-month period ended March 31, 2018 for the amortization of acquired backlog.
(d) Includes $4,151,000 in the three-month period ended March 30, 2019 of acquisition-related expenses. Acquisition-related expenses include acquisition transaction costs and amortization expense associated with acquired profit in inventory and backlog.
(e) Corporate primarily includes general and administrative expenses.
(f) The Company does not allocate interest and other expense, net to its segments.
(g) Primarily includes Corporate and Fiber-based Products' cash and cash equivalents, tax assets, ROU assets, and property, plant, and equipment.