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Business Segment and Geographical Information
 12 Months Ended
Jan. 02, 2021
Segment Reporting [Abstract]  
Business Segment and Geographical Information Business Segment and Geographical Information
The Company previously reported its financial results by combining its operating entities into three reportable operating segments: Papermaking Systems, Wood Processing Systems, and Material Handling Systems, and a separate product line, Fiber-based Products, as described below. In classifying operational entities into a particular segment, the Company has aggregated businesses with similar economic characteristics, products and services, production processes, customers, and methods of distribution. During the first quarter of 2020, the Company changed its reportable operating segments to better align with its strategic initiatives to grow both organically and through acquisitions. Such growth and diversification resulted in a change in the internal organization of the Company and how its chief operating decision maker makes operating decisions, assesses the performance of the business, and allocates resources. The Company's financial results are reported in three new reportable operating segments: Flow Control, Industrial Processing, and Material Handling. The Flow Control segment consists of the fluid-handling and doctoring, cleaning, & filtration product lines; the Industrial Processing segment consists of the wood processing and stock-preparation product lines (excluding baling products); and the Material Handling segment consists of the conveying and screening, baling, and fiber-based product lines. Financial information for 2019 and 2018 has been recast to conform to the new segment presentation. A description of each segment follows.
•Flow Control – Custom-engineered products, systems, and technologies that control the flow of fluids used in industrial and commercial applications to keep critical processes running efficiently in the packaging, tissue, food, metals, and other industrial sectors. The Company's products include rotary sealing devices, steam systems, expansion joints, doctor systems, roll and fabric cleaning devices, and filtration and fiber recovery systems.
•Industrial Processing – Equipment, machinery, and technologies used to recycle paper and paperboard and process timber for use in the packaging, tissue, wood products and alternative fuel industries, among others. The Company's primary products include stock-preparation systems and recycling equipment, chemical pulping equipment, debarkers, stranders, chippers, and logging machinery. In addition, the Company provides industrial automation and digitization solutions to process industries.
•Material Handling – Products and engineered systems used to handle bulk and discrete materials for secondary processing or transport in the aggregates, mining, food, and waste management industries, among others. The Company's primary products include conveying and vibratory equipment and balers. In addition, the Company manufactures and sells biodegradable, absorbent granules used as carriers in agricultural applications and for oil and grease absorption.
The following table presents financial information for the Company's reportable operating segments:
(In thousands)January 2, 2021December 28, 2019December 29, 2018
Revenue
Flow Control$225,444 $250,339 $247,966 
Industrial Processing261,577 301,948 314,229 
Material Handling (a)148,007 152,357 71,591 
 $635,028 $704,644 $633,786 
Income Before Provision for Income Taxes   
Flow Control (b)$51,530 $55,343 $52,928 
Industrial Processing (c)42,971 49,599 57,355 
Material Handling (a, d)14,375 11,600 8,077 
Corporate (e)(27,752)(28,719)(29,762)
Total operating income81,124 87,823 88,598 
Interest expense, net (f)(7,242)(12,542)(6,653)
Other expense, net (f, g)(195)(6,359)(2,417)
 $73,687 $68,922 $79,528 
(In thousands)January 2, 2021December 28, 2019December 29, 2018
Total Assets
Flow Control$263,141 $262,320 $256,140 
Industrial Processing379,965 375,194 374,512 
Material Handling (a)273,909 281,057 86,003 
Corporate (h)10,556 20,816 9,094 
$927,571 $939,387 $725,749 
Depreciation and Amortization   
Flow Control$6,333 $6,603 $5,971 
Industrial Processing13,163 13,012 13,660 
Material Handling (a)11,628 12,528 3,756 
Corporate210 247 181 
 $31,334 $32,390 $23,568 
Capital Expenditures   
Flow Control$2,808 $2,639 $2,791 
Industrial Processing3,123 5,113 12,288 
Material Handling (a)1,539 2,144 1,312 
Corporate125 61 168 
 $7,595 $9,957 $16,559 
Geographical Information   
Revenue (i):   
United States$286,015 $309,957 $234,487 
China51,003 66,480 89,645 
Canada62,059 64,010 61,096 
Germany23,292 29,076 26,577 
Finland11,805 11,113 10,934 
Other200,854 224,008 211,047 
 $635,028 $704,644 $633,786 
Long-lived Assets (j):   
United States$40,293 $42,094 $35,446 
China9,844 10,319 11,069 
Finland8,013 6,960 6,998 
Canada7,221 7,948 8,193 
Germany6,051 5,925 6,223 
Other13,220 12,786 12,228 
 $84,642 $86,032 $80,157 

(a)Includes the SMH business in 2020 and 2019, which was acquired on January 2, 2019 (see Note 2, Acquisitions).
(b)Includes restructuring costs of $659,000 in 2020.
(c)Includes $1,861,000 of impairment charges and $277,000 of restructuring costs in 2020. Includes $2,336,000 of impairment charges and $192,000 of restructuring costs in 2019. Includes restructuring costs of $1,717,000 in 2018. Includes acquisition-related expenses of $679,000 in 2020 and $252,000 in 2018. Acquisition-related expenses include amortization expense associated with backlog and acquisition costs.
(d)Includes restructuring costs of $182,000 in 2020. Includes acquisition-related expenses of $350,000 in 2020 and $5,715,000 in 2019. Acquisition-related expenses include amortization expense associated with acquired profit in inventory and backlog, and acquisition costs.
(e)Represents general and administrative expenses, including $1,321,000 of acquisition transaction costs in 2018.
(f)The Company does not allocate interest and other expense, net to its segments.
(g)Includes a settlement loss of $5,887,000 in 2019 and a curtailment loss of $1,425,000 in 2018.
(h)Primarily includes cash and cash equivalents, tax assets, ROU assets, and property, plant, and equipment, net.
(i)Revenue is attributed to countries based on customer location.
(j)Represents property, plant, and equipment, net.