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Business Segment Information (Tables)

9 Months Ended

Sep. 26, 2020

Segment Reporting [Abstract]

Business Segment Reporting Information

The following table presents financial information for the Company's reportable operating segments:

						Three Months Ended												Nine Months Ended
						September 26,						September 28,						September 26,						September 28,
(In thousands)						2020						2019						2020						2019
Revenue
Flow Control						$	56,815					$	62,375					$	165,329					$	188,792
Industrial Processing						62,086						74,229						192,468						222,899
Material Handling						35,709						36,900						108,800						110,294
						$	154,610					$	173,504					$	466,597					$	521,985
Income Before Provision for Income Taxes
Flow Control (a)						$	13,770					$	15,103					$	37,360					$	43,220
Industrial Processing (b)						12,072						13,107						32,147						38,830
Material Handling (c)						2,614						3,525						10,341						5,515
Corporate (d)						(7,121)						(7,182)						(20,737)						(21,295)
Total operating income						21,335						24,553						59,111						66,270
Interest expense, net (e)						(1,618)						(3,023)						(5,920)						(9,985)
Other expense, net (e)						(32)						(98)						(95)						(296)
						$	19,685					$	21,432					$	53,096					$	55,989
Capital Expenditures
Flow Control						$	509					$	636					$	1,667					$	1,814
Industrial Processing						785						1,053						2,460						3,223
Material Handling						486						397						1,167						1,145
Corporate						42						7						125						54
						$	1,822					$	2,093					$	5,419					$	6,236

(a) Includes restructuring costs of $265,000 in the three-month period ended September 26, 2020 and $721,000 in the nine-month period ended September 26, 2020.

(b) Includes restructuring costs of $205,000 in the three- and nine-month periods ended September 26, 2020. Includes acquisition-related expenses of $161,000 in the three-month period ended September 26, 2020 and $596,000 in the nine-month period ended September 26, 2020. Acquisition-related expenses include amortization expense associated with backlog and acquisition costs.

(c) Includes acquisition-related expenses of $248,000 in the three-month period ended September 26, 2020 and $256,000 in the nine-month period ended September 26, 2020. Includes acquisition-related expenses of $21,000 in the three-month period ended September 28, 2019 and $5,695,000 in the nine-month period ended September 28, 2019. Acquisition-related expenses include amortization expense associated with acquired profit in inventory and backlog, and acquisition costs.

(d) Corporate primarily includes general and administrative expenses.

(e) The Company does not allocate interest and other expense, net to its segments.

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- Definition

Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8736-108599

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 25
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8813-108599

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8906-108599

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X

- References

No definition available.

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