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Business Segment Information (Tables)
 6 Months Ended
Jul. 02, 2022
Segment Reporting [Abstract]  
Business Segment Reporting Information
The following table presents financial information for the Company's reportable operating segments:

Three Months EndedSix Months Ended
July 2,July 3,July 2,July 3,
(In thousands)2022202120222021
Revenue
Flow Control (a)$85,220 $70,762 $171,046 $134,516 
Industrial Processing84,402 82,681 177,487 151,835 
Material Handling (b)52,027 42,368 99,596 81,923 
$221,649 $195,811 $448,129 $368,274 
Income Before Provision for Income Taxes
    
Flow Control (a,c)$22,707 $19,324 $44,432 $34,770 
Industrial Processing (d,f)15,285 17,248 53,444 28,354 
Material Handling (b,e,f)8,701 5,281 14,545 9,450 
Corporate (g,f)(9,225)(8,843)(18,980)(16,137)
Total operating income37,468 33,010 93,441 56,437 
Interest expense, net (h)(1,089)(1,010)(2,221)(2,056)
Other expense, net (h)(19)(24)(41)(48)
$36,360 $31,976 $91,179 $54,333 
Capital Expenditures    
Flow Control$1,031 $368 $1,556 $702 
Industrial Processing (i)5,073 1,191 7,025 2,995 
Material Handling843 495 1,227 616 
Corporate— 5 7 5 
$6,947 $2,059 $9,815 $4,318 
(a)Includes results in 2022 from Clouth, which was acquired between July 19, 2021 and August 10, 2021.
(b)Includes results in 2022 from the East Chicago Machine Tool Corporation (Balemaster), which was acquired on August 23, 2021.
(c)Includes acquisition costs of $62,000 in the six months ended July 2, 2022 and $239,000 and $1,236,000 in the three and six months ended July 3, 2021, respectively.
(d)Includes a gain on the sale of a facility of $20,190,000, 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 six months ended July 2, 2022. Includes acquisition-related expenses of $53,000 and $140,000 in the three and six months ended July 3, 2021, respectively. Acquisition-related expenses include acquisition costs and amortization expense associated with acquired backlog.
(e)Includes acquisition-related expenses of $717,000 in the six months ended July 2, 2022 and $338,000 and $612,000 in the three and six months ended July 3, 2021, respectively.
(f)Includes a reclassification of acquisition costs from Corporate to the Industrial Processing and Material Handling segments in the three and six months ended July 3, 2021. The results in the three months ended July 3, 2021, include a decrease in operating loss for Corporate of $364,000 and a decrease in operating income of $53,000 and $311,000 for the Industrial Processing and Material Handling segments, respectively, and a decrease in operating loss for Corporate of $665,000 and a decrease in operating income of $80,000 and $585,000 for the Industrial Processing and Material Handling segments, respectively, in the six months ended July 3, 2021.
(g)Represents general and administrative expenses.
(h)The Company does not allocate interest and other expense, net to its segments.
(i)Includes capital expenditures of $3,128,000 and $3,242,000 in the three and six months ended July 2, 2022, respectively, associated with the construction of a manufacturing facility and building relocation project in China. See Note 2, Gain on Sale and Other Expense, Net.