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Nature of Operations and Summary of Significant Accounting Policies (Tables)

6 Months Ended

Jun. 29, 2019

Accounting Policies [Abstract]

Supplemental Cash Flow Information

		Six Months Ended
(In thousands)		June 29, 2019				June 30, 2018
Cash Paid for Interest		$	6,108			$	4,268
Cash Paid for Income Taxes, Net of Refunds		$	12,975			$	14,808
Non-Cash Investing Activities:
Post-closing adjustment		$	—			$	237
Liabilities assumed of acquired business		$	30,064			$	—
Non-cash additions to property, plant, and equipment		$	306			$	1,033
Non-Cash Financing Activities:
Issuance of Company common stock upon vesting of restricted stock units		$	3,743			$	3,264
Dividends declared but unpaid		$	2,590			$	2,442

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)		June 29, 2019				June 30, 2018				December 29, 2018				December 30, 2017
Cash and cash equivalents		$	57,049			$	60,177			$	45,830			$	75,425
Restricted cash		1,089				975				287				1,421
Total Cash, Cash Equivalents, and Restricted Cash		$	58,138			$	61,152			$	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)		June 29, 2019				June 30, 2018				December 29, 2018				December 30, 2017
Cash and cash equivalents		$	57,049			$	60,177			$	45,830			$	75,425
Restricted cash		1,089				975				287				1,421
Total Cash, Cash Equivalents, and Restricted Cash		$	58,138			$	61,152			$	46,117			$	76,846

Inventories

The components of inventories are as follows:

		June 29, 2019				December 29, 2018
(In thousands)
Raw Materials		$	49,899			$	44,522
Work in Process		21,800				15,876
Finished Goods		38,089				25,975
		$	109,788			$	86,373

Acquired Intangible Assets

Acquired intangible assets by major asset class are as follows:

(In thousands)		Gross				Accumulated Amortization				Currency Translation				Net
June 29, 2019
Definite-Lived
Customer relationships		$	171,583			$	(45,001	)		$	(3,661	)		$	122,921
Product technology		57,501				(25,692		)		(1,544		)		30,265
Tradenames		5,227				(2,201		)		(391		)		2,635
Other		18,064				(12,998		)		(580		)		4,486
		252,375				(85,892		)		(6,176		)		160,307
Indefinite-Lived
Tradenames		26,100				—				(17		)		26,083
Acquired Intangible Assets		$	278,475			$	(85,892	)		$	(6,193	)		$	186,390
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)		—				—				80,991				80,991
Currency translation		(394		)		1,420				—				1,026
Total 2019 adjustments		(394		)		1,420				80,991				82,017
Balance at June 29, 2019
Gross balance		241,518				103,191				80,991				425,700
Accumulated impairment losses		(85,509		)		—				—				(85,509		)
Net balance		$	156,009			$	103,191			$	80,991			$	340,191

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:

		Six Months Ended
(In thousands)		June 29, 2019				June 30, 2018
Balance at Beginning of Year		$	5,726			$	5,498
Provision charged to expense		2,368				1,656
Usage		(1,755		)		(881		)
Acquisition		303				—
Currency translation		37				(192		)
Balance at End of Period		$	6,679			$	6,081

Revenue by Product Line, Product Type, Geography, and Revenue Recognition Method

The following table presents revenue by revenue recognition method:

		Three Months Ended								Six Months Ended
		June 29,				June 30,				June 29,				June 30,
(In thousands)		2019				2018				2019				2018
Point in time		$	157,716			$	145,998			$	305,992			$	288,003
Over time		19,449				8,915				42,489				16,103
		$	177,165			$	154,913			$	348,481			$	304,106

The following table presents the disaggregation of revenues by product type and geography:

		Three Months Ended								Six Months Ended
		June 29,				June 30,				June 29,				June 30,
(In thousands)		2019				2018				2019				2018
Revenues by Product Type:
Parts and Consumables		$	111,917			$	94,857			$	224,767			$	190,842
Capital		65,248				60,056				123,714				113,264
		$	177,165			$	154,913			$	348,481			$	304,106
Revenues by Geography:
North America		$	98,667			$	75,375			199,543				152,991
Europe		43,813				45,032				82,798				86,525
Asia		23,696				25,502				40,774				45,650
Rest of World		10,989				9,004				25,366				18,940
		$	177,165			$	154,913			$	348,481			$	304,106

Balances from Contracts with Customers

The following table presents balances from contracts with customers:

		June 29, 2019				December 29, 2018
(In thousands)
Accounts receivable		$	106,202			$	92,624
Contract assets		$	13,728			$	15,741
Contract liabilities		$	41,239			$	34,774

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