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Business Segment Information (Tables)

3 Months Ended

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

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- References

No definition available.

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