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Nature of Operations and Summary of Significant Accounting Policies (Tables)
 12 Months Ended
Dec. 28, 2019
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 28, 2019
 
December 29, 2018
 
December 30, 2017
Revenues by Product Type:
 
 

 
 

 
 

Parts and Consumables
 
$
440,699

 
$
374,433

 
$
316,506

Capital
 
263,945

 
259,353

 
198,527

 
 
$
704,644

 
$
633,786

 
$
515,033

Revenues by Geography:
 
 

 
 

 
 

North America
 
$
386,952

 
$
305,618

 
$
238,483

Europe
 
180,888

 
174,681

 
157,994

Asia
 
84,705

 
109,688

 
78,443

Rest of World
 
52,099

 
43,799

 
40,113

 
 
$
704,644

 
$
633,786

 
$
515,033


The following table presents revenue by revenue recognition method:
(In thousands)
 
December 28, 2019
 
December 29, 2018
Point in Time
 
$
611,528

 
$
577,506

Over Time
 
93,116

 
56,280

 
 
$
704,644

 
$
633,786
Revenue from Contract with Customers
The following tables presents contract balances from contracts with customers:
(In thousands)
 
December 28, 2019
 
December 29, 2018
Accounts receivable
 
$
95,740

 
$
92,624

Contract assets
 
$
13,162

 
$
15,741

Contract liabilities
 
$
37,216

 
$
34,774
Changes in Allowance for Doubtful Accounts
The changes in the allowance for doubtful accounts are as follows:
(In thousands)
 
December 28, 2019
 
December 29, 2018
 
December 30, 2017
Balance at Beginning of Year
 
$
2,897

 
$
2,879

 
$
2,395

Provision charged to expense
 
114

 
355

 
436

Accounts written off
 
(263
)
 
(165
)
 
(159
)
Currency translation
 
(50
)
 
(172
)
 
207

Balance at End of Year
 
$
2,698

 
$
2,897

 
$
2,879
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 28, 2019
 
December 29, 2018
Balance at Beginning of Year
 
$
5,726

 
$
5,498

Provision charged to expense
 
4,727

 
3,708

Usage
 
(4,255
)
 
(3,140
)
Acquisition
 
303

 
—

Currency translation
 
(34
)
 
(340
)
Balance at End of Year
 
$
6,467

 
$
5,726
Cash and Cash Equivalents
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 28, 2019
 
December 29, 2018
 
December 30, 2017
Cash and cash equivalents
 
$
66,786

 
$
45,830

 
$
75,425

Restricted cash
 
1,487

 
287

 
1,421

Total Cash, Cash Equivalents, and Restricted Cash
 
$
68,273

 
$
46,117

 
$
76,846
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 28, 2019
 
December 29, 2018
 
December 30, 2017
Cash and cash equivalents
 
$
66,786

 
$
45,830

 
$
75,425

Restricted cash
 
1,487

 
287

 
1,421

Total Cash, Cash Equivalents, and Restricted Cash
 
$
68,273

 
$
46,117

 
$
76,846
Supplemental Cash Flow Information
Supplemental Cash Flow Information
(In thousands)
 
December 28, 2019
 
December 29, 2018
 
December 30, 2017
Cash Paid for Interest
 
$
12,344

 
$
7,550

 
$
2,624

Cash Paid for Income Taxes, Net of Refunds
 
$
24,533

 
$
25,654

 
$
20,559

 
 
 
 
 
 
 
Non-Cash Investing Activities:
 
 
 
 
 
 
Fair value of assets of acquired
 
$
207,223

 
$
—

 
$
242,399

Cash paid for acquired businesses
 
(179,693
)
 
—

 
(206,785
)
Liabilities Assumed of Acquired Businesses
 
$
27,530

 
$
—

 
$
35,614

 
 
 
 
 
 
 
Non-cash additions to property, plant, and equipment
 
$
626

 
$
917

 
$
4,620

 
 
 
 
 
 
 
Non-Cash Financing Activities:
 
 

 
 

 
 

Issuance of Company common stock upon vesting of RSUs
 
$
4,100

 
$
4,231

 
$
3,192

Dividends declared but unpaid
 
$
2,628

 
$
2,444

 
$
2,316
Components of Inventory
The components of inventories are as follows:
(In thousands)
 
December 28, 2019
 
December 29, 2018
Raw Materials
 
$
49,332

 
$
44,522

Work in Process
 
15,344

 
15,876

Finished Goods (includes $559 and $494 at customer locations)
 
38,039

 
25,975

 
 
$
102,715

 
$
86,373
Property, Plant and Equipment Property, plant, and equipment consist of the following:
(In thousands)
 
December 28, 2019
 
December 29, 2018
Land
 
$
7,347

 
$
7,614

Buildings
 
58,509

 
58,866

Machinery, Equipment, and Leasehold Improvements
 
112,655

 
100,453

Construction in Progress
 
2,830

 
3,764

 
 
181,341

 
170,697

Less: Accumulated Depreciation and Amortization
 
95,309

 
90,540

 
 
$
86,032

 
$
80,157
Acquired Intangible Assets
Acquired intangible assets by major asset class are as follows:
(In thousands)
 
Gross
 
Accumulated
Amortization
 
Currency
Translation
 
Net
December 28, 2019
 
 
 
 
 
 
 
 
Definite-Lived
 
 
 
 
 
 
 
 
Customer relationships
 
$
171,583

 
$
(51,798
)
 
$
(4,141
)
 
$
115,644

Product technology
 
56,011

 
(27,819
)
 
(1,709
)
 
26,483

Tradenames
 
6,527

 
(2,421
)
 
(427
)
 
3,679

Other
 
17,964

 
(13,295
)
 
(593
)
 
4,076

 
 
252,085

 
(95,333
)
 
(6,870
)
 
149,882

Indefinite-Lived
 
 
 
 
 
 
 
 
Tradenames
 
24,100

 
—

 
(86
)
 
24,014

Acquired Intangible Assets
 
$
276,185

 
$
(95,333
)
 
$
(6,956
)
 
$
173,896

 
 
 
 
 
 
 
 
 
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 as of 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

2019 Adjustments
 
 
 
 
 
 
 
 
Acquisition (Note 2)
 
—

 
—

 
78,592

 
78,592

Currency translation
 
(1,592
)
 
858

 
—

 
(734
)
Total 2019 Adjustments
 
(1,592
)
 
858

 
78,592

 
77,858

Balance at December 28, 2019
 
 

 
 

 
 

 
 

        Gross balance
 
240,320

 
102,629

 
78,592

 
421,541

        Accumulated impairment losses
 
(85,509
)
 
—

 
—

 
(85,509
)
        Net balance
 
$
154,811

 
$
102,629

 
$
78,592

 
$
336,032
Goodwill by Reporting Unit
Goodwill by reporting unit is as follows:
(In thousands)
 
December 28, 2019
 
December 29, 2018
Stock-Preparation
 
$
57,132

 
$
58,142

Fluid-Handling
 
63,382

 
64,052

Doctoring, Cleaning, & Filtration
 
34,297

 
34,209

Wood Processing Systems
 
102,629

 
101,771

Material Handling Systems
 
78,592

 
—

 
 
$
336,032

 
$
258,174