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Business Segment Information (Tables) | 6 Months Ended
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Jul. 03, 2021
Segment Reporting [Abstract] |
Business Segment Reporting Information | The following table presents financial information for the Company's reportable operating segments:
|  | Three Months Ended |  | Six Months Ended
|  | July 3, |  | June 27, |  | July 3, |  | June 27,
(In thousands) |  | 2021 |  | 2020 |  | 2021 |  | 2020
Revenue |  |  |  |  |  |  |  |
Flow Control |  | $ | 70,762 |  |  | $ | 51,365 |  |  | $ | 134,516 |  |  | $ | 108,514 |
Industrial Processing |  | 82,681 |  |  | 65,673 |  |  | 151,835 |  |  | 130,382 |
Material Handling |  | 42,368 |  |  | 35,822 |  |  | 81,923 |  |  | 73,091 |
|  | $ | 195,811 |  |  | $ | 152,860 |  |  | $ | 368,274 |  |  | $ | 311,987 |
Income Before Provision for Income Taxes |  |  |  |  |  |  |  |
Flow Control (a) |  | $ | 19,324 |  |  | $ | 10,260 |  |  | $ | 34,770 |  |  | $ | 23,590 |
Industrial Processing (b) |  | 17,301 |  |  | 10,639 |  |  | 28,434 |  |  | 20,075 |
Material Handling |  | 5,592 |  |  | 3,593 |  |  | 10,035 |  |  | 7,727 |
Corporate (c) |  | (9,207) |  |  | (6,371) |  |  | (16,802) |  |  | (13,616) |
Total operating income |  | 33,010 |  |  | 18,121 |  |  | 56,437 |  |  | 37,776 |
Interest expense, net (d) |  | (1,010) |  |  | (1,894) |  |  | (2,056) |  |  | (4,302) |
Other expense, net (d) |  | (24) |  |  | (31) |  |  | (48) |  |  | (63) |
|  | $ | 31,976 |  |  | $ | 16,196 |  |  | $ | 54,333 |  |  | $ | 33,411 |
Capital Expenditures |  |  |  |  |  |  |  |
Flow Control |  | $ | 368 |  |  | $ | 337 |  |  | $ | 702 |  |  | $ | 1,158 |
Industrial Processing |  | 1,191 |  |  | 211 |  |  | 2,995 |  |  | 1,675 |
Material Handling |  | 495 |  |  | 283 |  |  | 616 |  |  | 681 |
Corporate |  | 5 |  |  | 80 |  |  | 5 |  |  | 83 |
|  | $ | 2,059 |  |  | $ | 911 |  |  | $ | 4,318 |  |  | $ | 3,597 |
(a) Includes acquisition costs of $239,000 in the three months ended July 3, 2021 and $1,236,000 in the six months ended July 3, 2021 and restructuring costs of $456,000 in the three- and six-month periods ended June 27, 2020. (b) Includes $435,000 of acquisition-related expense in the three- and six-month periods ended June 27, 2020. Acquisition-related expenses include amortization expense associated with backlog and acquisition costs. (c) Represents general and administrative expenses. (d) 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=123359005&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=123359005&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=123359005&loc=d3e8906-108599 + Details
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