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Business Segment Information
 3 Months Ended
Mar. 30, 2024
Segment Reporting [Abstract]  
Business Segment Information Business Segment Information
The 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 process recycled paper and timber for 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 custom engineered knife systems. 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 and includes the results of Key Knife, acquired on January 1, 2024, within the Industrial Processing segment, and the results of KWS, acquired on January 24, 2024, within the Material Handling segment. See Note 2, Acquisitions, for further details.

Three Months Ended
March 30,April 1,
(In thousands)20242023
Revenue
Flow Control $86,682 $89,521 
Industrial Processing
105,861 83,542 
Material Handling 56,432 56,695 
$248,975 $229,758 
Income Before Provision for Income Taxes
  
Flow Control
$21,710 $24,189 
Industrial Processing (a)
19,999 15,967 
Material Handling (b)
5,541 9,287 
Corporate (c)
(10,323)(9,329)
Total operating income36,927 40,114 
Interest expense, net (d)
(4,058)(2,071)
Other expense, net (d)
(30)(21)
$32,839 $38,022 
Capital Expenditures  
Flow Control$1,874 $1,404 
Industrial Processing
2,883 2,579 
Material Handling
1,506 462 
Corporate8 24 
$6,271 $4,469 
March 30,
December 30,
(In thousands)20242023
Total Assets
Flow Control$383,516 $391,719 
Industrial Processing
606,803 443,189 
Material Handling
409,005 326,226 
Corporate10,102 14,531 
$1,409,426 $1,175,665 
(a)Includes acquisition-related costs of $1,890,000 in 2024, including acquisition costs of $599,000 and amortization expense associated with acquired profit in inventory of $1,291,000.
(b)Includes acquisition-related costs of $2,364,000 in 2024, including acquisition costs of $525,000 and amortization expense associated with acquired profit in inventory and backlog of $1,839,000.
(c)Represents general and administrative expenses.
(d)The Company does not allocate interest expense, net and other expense, net to its segments.