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Nature of Operations and Summary of Significant Accounting Policies (Tables)
 12 Months Ended
Jan. 02, 2021
Accounting Policies [Abstract]  
Revenue Recognition by Product Line, Product Type, Geography and Revenue Recognition Method
The following table presents revenue by revenue recognition method:
(In thousands)January 2, 2021December 28, 2019
Point in Time$557,702 $611,528 
Over Time77,326 93,116 
$635,028 $704,644 
The following table presents the disaggregation of revenue by product type and geography:
(In thousands)January 2, 2021December 28, 2019December 29, 2018
Revenue by Product Type:   
Parts and Consumables$417,545 $440,699 $374,433 
Capital217,483 263,945 259,353 
$635,028 $704,644 $633,786 
Revenue by Geography (based on customer location):   
North America$360,061 $386,952 $305,618 
Europe161,527 180,888 174,681 
Asia72,268 84,705 109,688 
Rest of World41,172 52,099 43,799 
$635,028 $704,644 $633,786 
Revenue from Contract with Customers
The following table presents contract balances from contracts with customers:
(In thousands)January 2, 2021December 28, 2019
Accounts Receivable$91,540 $95,740 
Contract Assets$7,576 $13,162 
Contract Liabilities$39,269 $37,216 
Changes in Allowance for Doubtful Accounts
The changes in the allowance for credit losses are as follows:
(In thousands)January 2, 2021December 28, 2019December 29, 2018
Balance at Beginning of Year$2,698 $2,897 $2,879 
Provision charged to expense356 114 355 
Accounts written off(266)(263)(165)
Currency translation189 (50)(172)
Balance at End of Year$2,977 $2,698 $2,897 
Changes in Estimated Product Warranty Liability The changes in the carrying amount of product warranty obligations are as follows:
(In thousands)January 2, 2021December 28, 2019
Balance at Beginning of Year$6,467 $5,726 
Provision charged to expense5,555 4,727 
Usage(5,439)(4,255)
Acquisition— 303 
Currency translation481 (34)
Balance at End of Year$7,064 $6,467 
Cash and Cash Equivalents
The following table provides a reconciliation of cash, cash equivalents, and restricted cash reported within the accompanying consolidated balance sheet that are shown in aggregate in the consolidated statement of cash flows:
(In thousands)January 2, 2021December 28, 2019December 29, 2018
Cash and cash equivalents$65,682 $66,786 $45,830 
Restricted cash958 1,487 287 
Total Cash, Cash Equivalents, and Restricted Cash$66,640 $68,273 $46,117 
Restricted Cash
The following table provides a reconciliation of cash, cash equivalents, and restricted cash reported within the accompanying consolidated balance sheet that are shown in aggregate in the consolidated statement of cash flows:
(In thousands)January 2, 2021December 28, 2019December 29, 2018
Cash and cash equivalents$65,682 $66,786 $45,830 
Restricted cash958 1,487 287 
Total Cash, Cash Equivalents, and Restricted Cash$66,640 $68,273 $46,117 
Supplemental Cash Flow Information
Supplemental Cash Flow Information
(In thousands)January 2, 2021December 28, 2019December 29, 2018
Cash Paid for Interest$6,899 $12,344 $7,550 
Cash Paid for Income Taxes, Net of Refunds$17,506 $24,533 $25,654 
Non-Cash Investing Activities:
Fair value of assets acquired$9,295 $207,223 $— 
Cash paid for acquired businesses(7,565)(179,693)— 
Liabilities Assumed of Acquired Businesses$1,730 $27,530 $— 
(In thousands)January 2, 2021December 28, 2019December 29, 2018
Non-cash additions to property, plant, and equipment$1,060 $626 $917 
Non-Cash Financing Activities:   
Issuance of Company common stock upon vesting of RSUs$4,781 $4,100 $4,231 
Dividends declared but unpaid$2,770 $2,628 $2,444 
Components of Inventory
The components of inventories are as follows:
(In thousands)January 2, 2021December 28, 2019
Raw Materials $46,413 $49,332 
Work in Process17,692 15,344 
Finished Goods (includes $427 and $559 at customer locations)
42,709 38,039 
 $106,814 $102,715 
Property, Plant and Equipment Property, plant, and equipment consist of the following:
(In thousands)January 2, 2021December 28, 2019
Land$7,676 $7,347 
Buildings60,702 58,509 
Machinery, Equipment, and Leasehold Improvements120,804 112,655 
Construction in Progress3,292 2,830 
 192,474 181,341 
Less: Accumulated Depreciation and Amortization107,832 95,309 
 $84,642 $86,032 
Acquired Intangible Assets
Acquired intangible assets by major asset class are as follows:
(In thousands)GrossAccumulated
Amortization		Currency
Translation		Net
January 2, 2021
Definite-Lived
Customer relationships$173,728 $(65,488)$(1,316)$106,924 
Product technology56,111 (31,655)(1,005)23,451 
Tradenames6,027 (2,946)(282)2,799 
Other18,248 (14,369)(515)3,364 
 254,114 (114,458)(3,118)136,538 
Indefinite-Lived
Tradenames24,100 — 327 24,427 
Acquired Intangible Assets$278,214 $(114,458)$(2,791)$160,965 
December 28, 2019    
Definite-Lived
Customer relationships$171,583 $(51,798)$(4,141)$115,644 
Product technology56,011 (27,819)(1,709)26,483 
Tradenames6,527 (2,421)(427)3,679 
Other17,964 (13,295)(593)4,076 
 252,085 (95,333)(6,870)149,882 
Indefinite-Lived
Tradenames24,100 — (86)24,014 
Acquired Intangible Assets$276,185 $(95,333)$(6,956)$173,896 
Changes in the Carrying Amount of Goodwill
The changes in the carrying amount of goodwill by segment are as follows:
(In thousands)Flow ControlIndustrial ProcessingMaterial HandlingTotal
Balance as of December 29, 2018 (a)
        Gross balance$98,261 $206,664 $38,758 $343,683 
        Accumulated impairment losses— (85,509)— (85,509)
        Net balance98,261 121,155 38,758 258,174 
2019 Adjustments
Acquisitions (Note 2)— — 78,592 78,592 
Currency translation(581)872 (1,025)(734)
Total 2019 adjustments(581)872 77,567 77,858 
Balance at December 28, 2019 (a)
    
        Gross balance97,680 207,536 116,325 421,541 
        Accumulated impairment losses— (85,509)— (85,509)
        Net balance97,680 122,027 116,325 336,032 
2020 Adjustments
Acquisition (Note 2)— 3,953 — 3,953 
Currency translation3,757 4,392 3,619 11,768 
Total 2020 adjustments3,757 8,345 3,619 15,721 
Balance at January 2, 2021    
        Gross balance101,437 215,881 119,944 437,262 
        Accumulated impairment losses— (85,509)— (85,509)
        Net balance$101,437 $130,372 $119,944 $351,753 

(a)Goodwill amounts for 2019 and 2018 have been recast to conform to the current period presentation. See Note 12, Business Segment and Geographical Information, for further details regarding the Company's change in reportable operating segments.
Goodwill by Reporting Unit
Goodwill by reporting unit is as follows:
(In thousands)January 2, 2021December 28, 2019
Stock-Preparation (a)$19,685 $19,399 
Fluid-Handling65,755 63,382 
Doctoring, Cleaning, & Filtration35,682 34,297 
Wood Processing110,687 102,629 
Material Handling (a)119,944 116,325 
 $351,753 $336,032 

(a)Goodwill balances as of December 28, 2019 have been recast to conform to the current period presentation. See Note 12, Business Segment and Geographical Information, for further details regarding the Company's change in reportable operating segments.