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Business Segment Information
 6 Months Ended
Jul. 01, 2023
Segment Reporting [Abstract]  
Business Segment Information Business Segment InformationThe Company has three reportable operating segments: Flow Control, Industrial Processing, and Material Handling. The Flow Control segment consists of the fluid-handling and doctoring, cleaning, & filtration product lines; the Industrial Processing segment consists of the wood processing and stock-preparation product lines; and the Material Handling segment consists of the conveying and vibratory, baling, and fiber-based product lines.
A description of each segment follows:
•Flow Control – Custom-engineered products, systems, and technologies that control the flow of fluids used in industrial and commercial applications to keep critical processes running efficiently in the packaging, tissue, food, metals, and other industrial sectors. The Company's primary products include rotary sealing devices, steam systems, expansion joints, doctor systems, roll and fabric cleaning devices, and filtration and fiber recovery systems.
•Industrial Processing – Equipment, machinery, and technologies used to recycle paper and paperboard and process timber for use in the packaging, tissue, wood products and alternative fuel industries, among others. The Company's primary products include stock-preparation systems and recycling equipment, chemical pulping equipment, debarkers, stranders, chippers, and logging machinery. In addition, the Company provides industrial automation and digitization solutions to process industries.
•Material Handling – Products and engineered systems used to handle bulk and discrete materials for secondary processing or transport in the aggregates, mining, food, and waste management industries, among others. The Company's primary products include conveying and vibratory equipment and balers. In addition, the Company manufactures and sells biodegradable, absorbent granules used as carriers in agricultural applications and for oil and grease absorption.

The following table presents financial information for the Company's reportable operating segments:

Three Months EndedSix Months Ended
July 1,July 2,July 1,July 2,
(In thousands)2023202220232022
Revenue
Flow Control $95,729 $85,220 $185,250 $171,046 
Industrial Processing89,967 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 income43,078 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 Handling1,358 843 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.