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Business Segment Information (Tables) | 3 Months Ended
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Apr. 01, 2023
Segment Reporting [Abstract] |
Business Segment Reporting Information | The following table presents financial information for the Company's reportable operating segments:
|  |  |  | Three Months Ended
|  |  |  |  |  | April 1, |  | April 2,
(In thousands) |  |  |  |  |  | 2023 |  | 2022
Revenue |  |  |  |  |  |  |  |
Flow Control |  |  |  |  |  | $ | 89,521 |  |  | $ | 85,826 |
Industrial Processing |  |  |  |  |  | 83,542 |  |  | 93,085 |
Material Handling |  |  |  |  |  | 56,695 |  |  | 47,569 |
|  |  |  |  |  | $ | 229,758 |  |  | $ | 226,480 |
Income Before Provision for Income Taxes |  |  |  |  |  |  |  |
Flow Control |  |  |  |  |  | $ | 24,189 |  |  | $ | 21,725 |
Industrial Processing (a) |  |  |  |  |  | 15,967 |  |  | 38,159 |
Material Handling (b) |  |  |  |  |  | 9,287 |  |  | 5,844 |
Corporate (c) |  |  |  |  |  | (9,329) |  |  | (9,755) |
Total operating income |  |  |  |  |  | 40,114 |  |  | 55,973 |
Interest expense, net (d) |  |  |  |  |  | (2,071) |  |  | (1,132) |
Other expense, net (d) |  |  |  |  |  | (21) |  |  | (22) |
|  |  |  |  |  | $ | 38,022 |  |  | $ | 54,819 |
Capital Expenditures |  |  |  |  |  |  |  |
Flow Control |  |  |  |  |  | $ | 1,404 |  |  | $ | 525 |
Industrial Processing |  |  |  |  |  | 2,579 |  |  | 1,952 |
Material Handling |  |  |  |  |  | 462 |  |  | 384 |
Corporate |  |  |  |  |  | 24 |  |  | 7 |
|  |  |  |  |  | $ | 4,469 |  |  | $ | 2,868 |
(a)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 three months ended April 2, 2022. (b)Includes acquisition-related expenses of $717,000 in the three months ended April 2, 2022. (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 https://asc.fasb.org/extlink&oid=126901519&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 https://asc.fasb.org/extlink&oid=126901519&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 https://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 https://asc.fasb.org/extlink&oid=126901519&loc=d3e8906-108599 + Details
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