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Business Segment Information
 9 Months Ended
Sep. 30, 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 and chippers. 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 EndedNine Months Ended
September 30,October 1, September 30,October 1,
(In thousands)2023202220232022
Revenue
Flow Control $90,798 $86,880 $276,048 $257,926 
Industrial Processing94,220 86,085 267,729 263,572 
Material Handling 59,164 51,545 175,216 151,141 
$244,182 $224,510 $718,993 $672,639 
Income Before Provision for Income Taxes
    
Flow Control (a)$24,246 $22,874 $74,256 $67,306 
Industrial Processing (b)19,023 17,550 51,968 70,994 
Material Handling (c)10,345 6,945 30,006 21,490 
Corporate (d)(10,070)(8,483)(29,494)(27,463)
Total operating income43,544 38,886 126,736 132,327 
Interest expense, net (e)(1,669)(1,450)(5,669)(3,671)
Other expense, net (e)(20)(19)(62)(60)
$41,855 $37,417 $121,005 $128,596 
Capital Expenditures    
Flow Control$1,195 $868 $3,889 $2,424 
Industrial Processing (f) 7,299 4,654 16,007 11,679 
Material Handling350 854 2,170 2,081 
Corporate4 — 28 7 
$8,848 $6,376 $22,094 $16,191 
(a)Includes restructuring and impairment costs of $434,000 in both the three and nine months ended September 30, 2023, and $72,000 in both the three and nine months ended October 1, 2022. Includes acquisition-related expenses of $410,000 and $254,000 in the three and nine months ended October 1, 2022, respectively.
(b)Includes relocation costs of $535,000 and $609,000 in the three and nine months ended September 30, 2023, respectively. Includes a gain on the sale of a facility of $20,190,000, impairment costs of $182,000 (see Note 2, Gain on Sale and Other Costs, Net), and a non-cash charge for the write-off of an indemnification asset of $575,000 in the nine months ended October 1, 2022.
(c)Includes acquisition-related expenses of $717,000 in the nine months ended October 1, 2022.
(d)Represents general and administrative expenses.
(e)The Company does not allocate interest and other expense, net to its segments.
(f)Includes capital expenditures of $2,476,000 and $5,763,000 in the three and nine months ended September 30, 2023, respectively, and $2,155,000 and $5,397,000 in the three and nine months ended October 1, 2022, respectively, related to the China Transaction. See Note 2, Gain on Sale and Other Costs, Net.