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Nature of Operations and Summary of Significant Accounting Policies (Tables)
 6 Months Ended
Jul. 01, 2023
Accounting Policies [Abstract]  
Supplemental Cash Flow Information Supplemental Cash Flow Information
 Six Months Ended
(In thousands)July 1,
2023		July 2,
2022
Cash Paid for Interest$4,443 $2,408 
Cash Paid for Income Taxes, Net of Refunds$23,792 $19,167 
Non-Cash Investing Activities:
Reduction in fair value of assets acquired$(270)$(1,568)
Cash received (paid) for acquired businesses277 (62)
Increase (decrease) in liabilities assumed$7 $(1,630)
Purchases of property, plant, and equipment in accounts payable$1,134 $26 
 Six Months Ended
(In thousands)July 1,
2023		July 2,
2022
Non-Cash Financing Activities:  
Issuance of Company common stock upon vesting of restricted stock units$4,717 $5,040 
Dividends declared but unpaid$3,395 $3,033 
Cash and Cash Equivalents
The following table provides a reconciliation of cash, cash equivalents, and restricted cash reported within the Company's condensed consolidated balance sheet that are shown in aggregate in the accompanying condensed consolidated statement of cash flows:
(In thousands)July 1,
2023		July 2,
2022		December 31,
2022		January 1,
2022
Cash and cash equivalents$66,725 $76,540 $76,371 $91,186 
Restricted cash3,470 1,486 3,354 2,975 
Total Cash, Cash Equivalents, and Restricted Cash$70,195 $78,026 $79,725 $94,161 
Restricted Cash
The following table provides a reconciliation of cash, cash equivalents, and restricted cash reported within the Company's condensed consolidated balance sheet that are shown in aggregate in the accompanying condensed consolidated statement of cash flows:
(In thousands)July 1,
2023		July 2,
2022		December 31,
2022		January 1,
2022
Cash and cash equivalents$66,725 $76,540 $76,371 $91,186 
Restricted cash3,470 1,486 3,354 2,975 
Total Cash, Cash Equivalents, and Restricted Cash$70,195 $78,026 $79,725 $94,161 
Inventories
The components of inventories are as follows:
 July 1,
2023		December 31,
2022
(In thousands)
Raw Materials$73,075 $71,040 
Work in Process45,428 38,612 
Finished Goods57,877 54,020 
$176,380 $163,672 
Changes in the Carrying Amount of Goodwill
The changes in the carrying amount of goodwill by segment are as follows:
(In thousands)Flow ControlIndustrial ProcessingMaterial HandlingTotal
Balance at December 31, 2022   
Gross balance$118,309 $209,919 $142,765 $470,993 
Accumulated impairment losses— (85,538)— (85,538)
Net balance118,309 124,381 142,765 385,455 
2023 Activity
Acquisition adjustments— — 4 4 
   Currency translation1,169 1,428 746 3,343 
   Total 2023 activity1,169 1,428 750 3,347 
Balance at July 1, 2023   
Gross balance119,478 211,347 143,515 474,340 
Accumulated impairment losses— (85,538)— (85,538)
Net balance$119,478 $125,809 $143,515 $388,802 
Changes in the Carrying Amount of Product Warranty Obligations The changes in the carrying amount of product warranty obligations are as follows:
 Six Months Ended
(In thousands)July 1,
2023		July 2,
2022
Balance at Beginning of Year$7,283 $7,298 
Provision charged to expense3,154 2,657 
Usage(2,335)(2,548)
Currency translation97 (429)
Balance at End of Period$8,199 $6,978 
Revenue Recognition Method and Disaggregation of Revenue by Product Type and Geography
The following table presents revenue by revenue recognition method:
Three Months EndedSix Months Ended
July 1,July 2,July 1,July 2,
(In thousands)2023202220232022
Point in Time$222,235 $198,249 $426,474 $401,560 
Over Time22,818 23,400 48,337 46,569 
$245,053 $221,649 $474,811 $448,129 
The following table presents the disaggregation of revenue by product type and geography:
Three Months EndedSix Months Ended
July 1,July 2,July 1,July 2,
(In thousands)2023202220232022
Revenue by Product Type:
    
Parts and consumables$153,082 $145,680 $304,645 $291,924 
Capital91,971 75,969 170,166 156,205 
$245,053 $221,649 $474,811 $448,129 
Revenue by Geography (based on customer location) (a):    
North America$135,385 $124,080 267,838 248,416 
Europe60,625 58,489 114,782 116,855 
Asia32,867 28,976 60,637 60,963 
Rest of world16,176 10,104 31,554 21,895 
$245,053 $221,649 $474,811 $448,129 
(a)     The components of revenue by geography in the three and six months ended July 2, 2022 have been recast to conform to the current period presentation.
Contract Balances From Contracts With Customers
The following table presents contract balances from contracts with customers:
 July 1,
2023		December 31,
2022
(In thousands)
Contract Assets$11,986 $14,898 
Contract Liabilities$87,780 $82,413