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Nature of Operations and Summary of Significant Accounting Policies (Tables)
 9 Months Ended
Sep. 30, 2023
Accounting Policies [Abstract]  
Supplemental Cash Flow Information Supplemental Cash Flow Information
 Nine Months Ended
(In thousands)September 30,
2023		October 1,
2022
Cash Paid for Interest$6,341 $3,907 
Cash Paid for Income Taxes, Net of Refunds$34,037 $28,692 
Non-Cash Investing Activities:
Reduction in fair value of assets acquired$(270)$(1,768)
Cash received for acquired businesses
277 138 
Increase (decrease) in liabilities assumed$7 $(1,630)
Purchase of property with outstanding loan receivable— $1,397 
Purchases of property, plant, and equipment in accounts payable$749 $36 
 Nine Months Ended
(In thousands)September 30,
2023		October 1,
2022
Non-Cash Financing Activities:  
Issuance of Company common stock upon vesting of restricted stock units$4,951 $5,295 
Dividends declared but unpaid$3,395 $3,032 
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)September 30,
2023		October 1,
2022		December 31,
2022		January 1,
2022
Cash and cash equivalents$76,793 $72,936 $76,371 $91,186 
Restricted cash2,260 2,178 3,354 2,975 
Total Cash, Cash Equivalents, and Restricted Cash$79,053 $75,114 $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)September 30,
2023		October 1,
2022		December 31,
2022		January 1,
2022
Cash and cash equivalents$76,793 $72,936 $76,371 $91,186 
Restricted cash2,260 2,178 3,354 2,975 
Total Cash, Cash Equivalents, and Restricted Cash$79,053 $75,114 $79,725 $94,161 
Inventories
The components of inventories are as follows:
 September 30,
2023		December 31,
2022
(In thousands)
Raw Materials$67,647 $71,040 
Work in Process41,883 38,612 
Finished Goods54,816 54,020 
$164,346 $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 translation(609)(224)(309)(1,142)
   Total 2023 activity(609)(224)(305)(1,138)
Balance at September 30, 2023   
Gross balance117,700 209,695 142,460 469,855 
Accumulated impairment losses— (85,538)— (85,538)
Net balance$117,700 $124,157 $142,460 $384,317 
Changes in the Carrying Amount of Product Warranty Obligations The changes in the carrying amount of product warranty obligations are as follows:
 Nine Months Ended
(In thousands)September 30,
2023		October 1,
2022
Balance at Beginning of Year$7,283 $7,298 
Provision charged to expense4,879 3,637 
Usage(3,391)(3,361)
Currency translation(90)(877)
Balance at End of Period$8,681 $6,697 
Revenue Recognition Method and Disaggregation of Revenue by Product Type and Geography
The following table presents revenue by revenue recognition method:
Three Months EndedNine Months Ended
September 30,October 1, September 30,October 1,
(In thousands)2023202220232022
Point in Time$216,956 $201,557 $643,430 $603,117 
Over Time27,226 22,953 75,563 69,522 
$244,182 $224,510 $718,993 $672,639 
The following table presents the disaggregation of revenue by product type and geography:
Three Months EndedNine Months Ended
September 30,October 1, September 30,October 1,
(In thousands)2023202220232022
Revenue by Product Type:
    
Parts and consumables$149,564 $141,857 $454,209 $433,781 
Capital94,618 82,653 264,784 238,858 
$244,182 $224,510 $718,993 $672,639 
Revenue by Geography (based on customer location):    
North America$133,780 $126,699 401,618 375,115 
Europe66,491 57,409 181,273 174,264 
Asia27,393 26,953 88,030 87,916 
Rest of world16,518 13,449 48,072 35,344 
$244,182 $224,510 $718,993 $672,639 
Contract Balances From Contracts With Customers
The following table presents contract balances from contracts with customers:
 September 30,
2023		December 31,
2022
(In thousands)
Contract Assets$12,113 $14,898 
Contract Liabilities$83,035 $82,413