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Business Segment Information (Tables) | 6 Months Ended
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Jun. 29, 2024
Segment Reporting [Abstract] |
Business Segment Reporting Information | The following tables present financial information for the Company's reportable operating segments and includes the results from the 2024 acquisitions from the date of acquisition. See Note 2, Acquisitions, for further details.
|  | Three Months Ended |  | Six Months Ended
|  | June 29, |  | July 1, |  | June 29, |  | July 1,
(In thousands) |  | 2024 |  | 2023 |  | 2024 |  | 2023
Revenue |  |  |  |  |  |  |  |
Flow Control |  | $ | 92,290 |  |  | $ | 95,729 |  |  | $ | 178,972 |  |  | $ | 185,250 |
Industrial Processing |  | 114,753 |  |  | 89,967 |  |  | 220,614 |  |  | 173,509 |
Material Handling |  | 67,722 |  |  | 59,357 |  |  | 124,154 |  |  | 116,052 |
|  | $ | 274,765 |  |  | $ | 245,053 |  |  | $ | 523,740 |  |  | $ | 474,811 |
Income Before Provision for Income Taxes |  |  |  |  |  |  |  |
Flow Control (a) |  | $ | 23,530 |  |  | $ | 25,821 |  |  | $ | 45,240 |  |  | $ | 50,010 |
Industrial Processing (b) |  | 24,092 |  |  | 16,978 |  |  | 44,091 |  |  | 32,945 |
Material Handling (c) |  | 11,188 |  |  | 10,374 |  |  | 16,729 |  |  | 19,661 |
Corporate (d) |  | (10,409) |  |  | (10,095) |  |  | (20,732) |  |  | (19,424) |
Total operating income |  | 48,401 |  |  | 43,078 |  |  | 85,328 |  |  | 83,192 |
Interest expense, net (e) |  | (4,833) |  |  | (1,929) |  |  | (8,891) |  |  | (4,000) |
Other expense, net (e) |  | (2) |  |  | (21) |  |  | (32) |  |  | (42) |
|  | $ | 43,566 |  |  | $ | 41,128 |  |  | $ | 76,405 |  |  | $ | 79,150 |
Capital Expenditures |  |  |  |  |  |  |  |
Flow Control |  | $ | 1,961 |  |  | $ | 1,290 |  |  | $ | 3,835 |  |  | $ | 2,694 |
Industrial Processing |  | 1,851 |  |  | 6,129 |  |  | 4,734 |  |  | 8,708 |
Material Handling |  | 1,157 |  |  | 1,358 |  |  | 2,663 |  |  | 1,820 |
Corporate |  | 5 |  |  | — |  |  | 13 |  |  | 24 |
|  | $ | 4,974 |  |  | $ | 8,777 |  |  | $ | 11,245 |  |  | $ | 13,246 |
|  | June 29, |  | December 30,
(In thousands) |  | 2024 |  | 2023
Total Assets |  |  |  |
Flow Control |  | $ | 438,402 |  |  | $ | 391,719 |
Industrial Processing |  | 590,771 |  |  | 443,189 |
Material Handling |  | 413,860 |  |  | 326,226 |
Corporate |  | 12,999 |  |  | 14,531 |
|  | $ | 1,456,032 |  |  | $ | 1,175,665 |
(a)Includes acquisition-related costs of $1,054,000 in the three and six months ended June 29, 2024. Acquisition-related expenses include acquisition costs and amortization expense associated with acquired profit in inventory and backlog. (b)Includes acquisition-related costs of $383,000 in the three months ended June 29, 2024 and $2,273,000 in the six months ended June 29, 2024. (c)Includes acquisition-related costs of $727,000 in the three months ended June 29, 2024 and $3,091,000 in the six months ended June 29, 2024. (d)Represents general and administrative expenses. (e)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 280 -SubTopic 10 -Section 50 -Paragraph 25 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-25 Reference 2: 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 3: 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 + Details
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