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Business Segment Information
 6 Months Ended
Jun. 29, 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, energy, 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 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 EndedSix Months Ended
June 29,July 1,June 29,July 1,
(In thousands)2024202320242023
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 income48,401 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 
Corporate5 — 13 24 
$4,974 $8,777 $11,245 $13,246 
June 29,
December 30,
(In thousands)20242023
Total Assets
Flow Control$438,402 $391,719 
Industrial Processing
590,771 443,189 
Material Handling
413,860 326,226 
Corporate12,999 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.