XML 38 R28.htm IDEA: XBRL DOCUMENT v3.22.1

Business Segment Information (Tables)

3 Months Ended

Apr. 02, 2022

Segment Reporting [Abstract]

Business Segment Reporting Information

The following table presents financial information for the Company's reportable operating segments:

						Three Months Ended
						April 2,						April 3,
(In thousands)						2022						2021
Revenue
Flow Control (a)						$	85,826					$	63,754
Industrial Processing						93,085						69,154
Material Handling (b)						47,569						39,555
						$	226,480					$	172,463

						Three Months Ended
						April 2,						April 3,
(In thousands)						2022						2021
Income Before Provision for Income Taxes
Flow Control (a,c)						$	21,725					$	15,446
Industrial Processing (d)						38,159						11,106
Material Handling (b,e)						5,844						4,169
Corporate (f)						(9,755)						(7,294)
Total operating income						55,973						23,427
Interest expense, net (g)						(1,132)						(1,046)
Other expense, net (g)						(22)						(24)
						$	54,819					$	22,357
Capital Expenditures
Flow Control						$	525					$	334
Industrial Processing						1,952						1,804
Material Handling						384						121
Corporate						7						—
						$	2,868					$	2,259

(a)Includes Clouth's results in 2022, which was acquired between July 19, 2021 and August 10, 2021.

(b)Includes the East Chicago Machine Tool Corporation (Balemaster) results in 2022, which was acquired on August 23, 2021.

(c)Includes acquisition costs of $997,000 in the three months ended April 3, 2021.

(d)Includes a gain on the sale of a facility of $20,190,000 and non-cash charges for the write-off of an indemnification asset of $575,000 and the write-down of machinery and equipment of $182,000 in the three months ended April 2, 2022.

(e)Includes acquisition-related expenses of $717,000 in the three months ended April 2, 2022 and $274,000 in the three months ended April 3, 2021. Acquisition-related expenses include acquisition costs and amortization expense associated with acquired backlog.

(f)Represents general and administrative expenses.

(g)The Company does not allocate interest and other expense, net to its segments.

X

- 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

Name:	us-gaap_ScheduleOfSegmentReportingInformationBySegmentTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- References

No definition available.

+ Details

Name:	us-gaap_SegmentReportingAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration