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Business Segment Information (Tables)

6 Months Ended

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

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- References

No definition available.

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