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Business Segment Information (Tables)
 9 Months Ended
Oct. 01, 2022
Segment Reporting [Abstract]  
Business Segment Reporting Information
The following table presents financial information for the Company's reportable operating segments:

Three Months EndedNine Months Ended
October 1,October 2,October 1,October 2,
(In thousands)2022202120222021
Revenue
Flow Control (a)$86,880 $76,253 $257,926 $210,769 
Industrial Processing86,085 81,620 263,572 233,455 
Material Handling (b)51,545 41,916 151,141 123,839 
$224,510 $199,789 $672,639 $568,063 
Income Before Provision for Income Taxes
    
Flow Control (a,c)$22,874 $17,129 $67,306 $51,899 
Industrial Processing (d)17,550 16,095 70,994 44,449 
Material Handling (b,e)6,945 3,491 21,490 12,941 
Corporate (f)(8,483)(7,987)(27,463)(24,124)
Total operating income38,886 28,728 132,327 85,165 
Interest expense, net (g)(1,450)(1,265)(3,671)(3,321)
Other expense, net (g)(19)(23)(60)(71)
$37,417 $27,440 $128,596 $81,773 
Capital Expenditures    
Flow Control$868 $1,128 $2,424 $1,830 
Industrial Processing (h)4,654 1,725 11,679 4,720 
Material Handling854 505 2,081 1,121 
Corporate— 12 7 17 
$6,376 $3,370 $16,191 $7,688 
(a)Includes results from Clouth, which was acquired between July 19, 2021 and August 10, 2021.
(b)Includes results from East Chicago Machine Tool Corporation (Balemaster), which was acquired on August 23, 2021.
(c)Includes acquisition-related expenses of $410,000 and $254,000 in the three and nine months ended October 1, 2022, respectively, and $2,706,000 and $3,942,000 in the three and nine months ended October 2, 2021, respectively. Acquisition-related expenses include acquisition costs and amortization expense associated with acquired profit in inventory and backlog. Includes restructuring costs of $72,000 in the three and nine months ended October 1, 2022, respectively.
(d)Includes a gain on the sale of a facility of $20,190,000 (see Note 2, Gain on Sale and Other Costs, Net) 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 nine months ended October 1, 2022.
(e)Includes acquisition-related expenses of $717,000 in the nine months ended October 1, 2022 and $799,000 and $1,411,000 in the three and nine months ended October 2, 2021, respectively.
(f)Represents general and administrative expenses.
(g)The Company does not allocate interest and other expense, net to its segments.
(h)Includes capital expenditures of $2,155,000 and $5,397,000 in the three and nine months ended October 1, 2022, respectively, associated with the construction of a manufacturing facility in China. See Note 2, Gain on Sale and Other Costs, Net.