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Business Segment Information (Tables)

9 Months Ended

Oct. 02, 2021

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
						October 2,						September 26,						October 2,						September 26,
(In thousands)						2021						2020						2021						2020
Revenue
Flow Control						$	76,253					$	56,815					$	210,769					$	165,329
Industrial Processing						81,620						62,086						233,455						192,468
Material Handling						41,916						35,709						123,839						108,800
						$	199,789					$	154,610					$	568,063					$	466,597

						Three Months Ended												Nine Months Ended
						October 2,						September 26,						October 2,						September 26,
(In thousands)						2021						2020						2021						2020
Income Before Provision for Income Taxes
Flow Control (a)						$	17,129					$	13,770					$	51,899					$	37,360
Industrial Processing						16,095						12,072						44,449						32,147
Material Handling (b)						3,491						2,614						12,941						10,341
Corporate (c)						(7,987)						(7,121)						(24,124)						(20,737)
Total operating income						28,728						21,335						85,165						59,111
Interest expense, net (d)						(1,265)						(1,618)						(3,321)						(5,920)
Other expense, net (d)						(23)						(32)						(71)						(95)
						$	27,440					$	19,685					$	81,773					$	53,096
Capital Expenditures
Flow Control						$	1,128					$	509					$	1,830					$	1,667
Industrial Processing						1,725						785						4,720						2,460
Material Handling						505						486						1,121						1,167
Corporate						12						42						17						125
						$	3,370					$	1,822					$	7,688					$	5,419
																		October 2,						January 2,
(In thousands)																		2021						2021
Total Assets
Flow Control																		$	388,662					$	263,141
Industrial Processing																		399,651						379,965
Material Handling																		333,535						273,909
Corporate																		11,280						10,556
																		$	1,133,128					$	927,571

(a) Includes acquisition-related expenses of $2,706,000 in the three months ended October 2, 2021 and $3,942,000 in the nine months ended October 2, 2021 and restructuring costs of $265,000 in the three months ended September 26, 2020 and $721,000 in the nine months ended September 26, 2020. Acquisition-related expenses include acquisition costs and amortization expense associated with acquired profit in inventory and backlog.

(b) Includes acquisition-related expenses of $799,000 in the three months ended October 2, 2021 and $1,411,000 in the nine months ended October 2, 2021 and $248,000 in the three months ended September 26, 2020 and $256,000 in the nine months ended September 26, 2020.

(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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