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Nature of Operations and Summary of Significant Accounting Policies (Tables)
 9 Months Ended
Oct. 01, 2022
Accounting Policies [Abstract]  
Supplemental Cash Flow Information Supplemental Cash Flow Information
 Nine Months Ended
(In thousands)October 1,
2022		October 2,
2021
Cash Paid for Interest$3,907 $3,091 
Cash Paid for Income Taxes, Net of Refunds$28,692 $19,320 
 Nine Months Ended
(In thousands)October 1,
2022		October 2,
2021
Non-Cash Investing Activities:
Fair value of assets (adjusted) acquired$(1,768)$185,424 
Cash received (paid) for acquired businesses138 (149,961)
Liabilities (adjusted) assumed of acquired businesses$(1,630)$35,463 
Purchase of property with outstanding loan receivable$1,397 $— 
Purchases of property, plant, and equipment in accounts payable$36 $914 
Non-Cash Financing Activities:  
Issuance of Company common stock upon vesting of restricted stock units$5,295 $3,841 
Dividends declared but unpaid$3,032 $2,901 
Cash and Cash Equivalents
The following table provides a reconciliation of cash, cash equivalents, and restricted cash reported within the Company's condensed consolidated balance sheet that are shown in aggregate in the accompanying condensed consolidated statement of cash flows:
(In thousands)October 1,
2022		October 2,
2021		January 1,
2022		January 2,
2021
Cash and cash equivalents$72,936 $82,600 $91,186 $65,682 
Restricted cash2,178 1,064 2,975 958 
Total Cash, Cash Equivalents, and Restricted Cash$75,114 $83,664 $94,161 $66,640 
Restricted Cash
The following table provides a reconciliation of cash, cash equivalents, and restricted cash reported within the Company's condensed consolidated balance sheet that are shown in aggregate in the accompanying condensed consolidated statement of cash flows:
(In thousands)October 1,
2022		October 2,
2021		January 1,
2022		January 2,
2021
Cash and cash equivalents$72,936 $82,600 $91,186 $65,682 
Restricted cash2,178 1,064 2,975 958 
Total Cash, Cash Equivalents, and Restricted Cash$75,114 $83,664 $94,161 $66,640 
Inventories
The components of inventories are as follows:
 October 1,
2022		January 1,
2022
(In thousands)
Raw Materials$65,529 $59,177 
Work in Process38,520 29,448 
Finished Goods52,518 45,731 
$156,567 $134,356 
Changes in the Carrying Amount of Goodwill
The changes in the carrying amount of goodwill by segment are as follows:
(In thousands)Flow ControlIndustrial ProcessingMaterial HandlingTotal
Balance at January 1, 2022   
Gross balance$123,589 $214,982 $143,825 $482,396 
Accumulated impairment losses— (85,509)— (85,509)
Net balance123,589 129,473 143,825 396,887 
2022 Activity
   Acquisitions (a)(33)— (502)(535)
   Currency translation(10,203)(7,953)(5,230)(23,386)
   Total 2022 activity(10,236)(7,953)(5,732)(23,921)
Balance at October 1, 2022   
Gross balance113,353 207,029 138,093 458,475 
Accumulated impairment losses— (85,509)— (85,509)
Net balance$113,353 $121,520 $138,093 $372,966 
(a)Relates to adjustments to the purchase price allocation for acquisitions completed in 2021, principally for inventory, machinery and equipment, and deferred taxes. Measurement period adjustments in 2022 were not material to the Company's results of operations.
Changes in the Carrying Amount of Product Warranty Obligations
The changes in the carrying amount of product warranty obligations are as follows:
 Nine Months Ended
(In thousands)October 1,
2022		October 2,
2021
Balance at Beginning of Year$7,298 $7,064 
Provision charged to expense3,637 3,289 
Usage(3,361)(3,106)
Acquisitions— 429 
Currency translation(877)(210)
Balance at End of Period$6,697 $7,466 
Revenue Recognition Method and Disaggregation of Revenue by Product Type and Geography
The following table presents revenue by revenue recognition method:
Three Months EndedNine Months Ended
October 1,October 2,October 1,October 2,
(In thousands)2022202120222021
Point in Time$201,557 $181,407 $603,117 $511,303 
Over Time22,953 18,382 69,522 56,760 
$224,510 $199,789 $672,639 $568,063 
The following table presents the disaggregation of revenue by product type and geography:
Three Months EndedNine Months Ended
October 1,October 2,October 1,October 2,
(In thousands)2022202120222021
Revenue by Product Type:
    
Parts and consumables$141,857 $131,225 $433,781 $374,307 
Capital82,653 68,564 238,858 193,756 
$224,510 $199,789 $672,639 $568,063 
Revenue by Geography (based on customer location):    
North America$126,699 $105,384 375,115 307,243 
Europe57,409 58,813 174,264 159,281 
Asia26,953 25,504 87,916 72,046 
Rest of world13,449 10,088 35,344 29,493 
$224,510 $199,789 $672,639 $568,063 
Contract Balances From Contracts With Customers
The following table presents contract balances from contracts with customers:
 October 1,
2022		January 1,
2022
(In thousands)
Contract Assets$16,064 $8,626 
Contract Liabilities$80,950 $77,004