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Business Segment Information (Tables) | 6 Months Ended
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Jul. 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 |  | Six Months Ended
|  | July 1, |  | July 2, |  | July 1, |  | July 2,
(In thousands) |  | 2023 |  | 2022 |  | 2023 |  | 2022
Revenue |  |  |  |  |  |  |  |
Flow Control |  | $ | 95,729 |  |  | $ | 85,220 |  |  | $ | 185,250 |  |  | $ | 171,046 |
Industrial Processing |  | 89,967 |  |  | 84,402 |  |  | 173,509 |  |  | 177,487 |
Material Handling |  | 59,357 |  |  | 52,027 |  |  | 116,052 |  |  | 99,596 |
|  | $ | 245,053 |  |  | $ | 221,649 |  |  | $ | 474,811 |  |  | $ | 448,129 |
Income Before Provision for Income Taxes |  |  |  |  |  |  |  |
Flow Control |  | $ | 25,821 |  |  | $ | 22,707 |  |  | $ | 50,010 |  |  | $ | 44,432 |
Industrial Processing (a) |  | 16,978 |  |  | 15,285 |  |  | 32,945 |  |  | 53,444 |
Material Handling (b) |  | 10,374 |  |  | 8,701 |  |  | 19,661 |  |  | 14,545 |
Corporate (c) |  | (10,095) |  |  | (9,225) |  |  | (19,424) |  |  | (18,980) |
Total operating income |  | 43,078 |  |  | 37,468 |  |  | 83,192 |  |  | 93,441 |
Interest expense, net (d) |  | (1,929) |  |  | (1,089) |  |  | (4,000) |  |  | (2,221) |
Other expense, net (d) |  | (21) |  |  | (19) |  |  | (42) |  |  | (41) |
|  | $ | 41,128 |  |  | $ | 36,360 |  |  | $ | 79,150 |  |  | $ | 91,179 |
Capital Expenditures |  |  |  |  |  |  |  |
Flow Control |  | $ | 1,290 |  |  | $ | 1,031 |  |  | $ | 2,694 |  |  | $ | 1,556 |
Industrial Processing (e) |  | 6,129 |  |  | 5,073 |  |  | 8,708 |  |  | 7,025 |
Material Handling |  | 1,358 |  |  | 843 |  |  | 1,820 |  |  | 1,227 |
Corporate |  | — |  |  | — |  |  | 24 |  |  | 7 |
|  | $ | 8,777 |  |  | $ | 6,947 |  |  | $ | 13,246 |  |  | $ | 9,815 |
(a)Includes other costs of $74,000 in the three and six months ended July 1, 2023 and $182,000 in the six months ended July 2, 2022. 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 in the six months ended July 2. 2022. (b)Includes a non-cash charge for the write-off of an indemnification asset of $177,000 in the three and six months ended July 1, 2023 and acquisition-related expenses of $717,000 in the six months ended July 2, 2022. (c)Represents general and administrative expenses. (d)The Company does not allocate interest and other expense, net to its segments. (e)Includes capital expenditures of $3,108,000 and $3,287,000 in the three and six months ended July 1, 2023, respectively, and $3,128,000 and $3,242,000 in the three and six months ended July 2, 2022, respectively, related to the China Transaction. See Note 2, Gain on Sale and Other Costs, Net.

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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 -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 1 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482573/350-20-50-1 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-25 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-22 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-30 + Details
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