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Business Segment Information (Tables)

3 Months Ended

Mar. 30, 2024

Segment Reporting [Abstract]

Business Segment Reporting Information

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)						2024						2023
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 income						36,927						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
Corporate						8						24
						$	6,271					$	4,469

						March 30,						December 30,
(In thousands)						2024						2023
Total Assets
Flow Control						$	383,516					$	391,719
Industrial Processing						606,803						443,189
Material Handling						409,005						326,226
Corporate						10,102						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.

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- Definition

Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 25
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-25

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-22

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-30

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- References

No definition available.

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