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Business Segment and Geographical Information (Tables) | 12 Months Ended
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Dec. 28, 2024
Segment Reporting [Abstract] |
Summary of Reportable Segments | The following tables present financial information for the Company's reportable segments:
December 28, 2024
(In thousands) |  | Flow Control |  | Industrial Processing |  | Material Handling |  | Total
Revenue |  | $ | 371,177 |  |  | $ | 432,738 |  |  | $ | 249,469 |  |  | $ | 1,053,384 |
Cost of revenue |  | 176,340 |  |  | 252,068 |  |  | 158,828 |  |  | 587,236 |
Gross Profit |  | 194,837 |  |  | 180,670 |  |  | 90,641 |  |  | 466,148 |
Gross Profit Margin |  | 52.5% |  | 41.8% |  | 36.3% |  | 44.3%
Operating Expenses: |  |  |  |  |  |  |  |
Selling expenses |  | 55,326 |  |  | 42,008 |  |  | 24,592 |  |  | 121,926 |
General and administrative expenses |  | 35,686 |  |  | 33,638 |  |  | 16,668 |  |  | 85,992 |
Research and development expenses |  | 5,874 |  |  | 6,231 |  |  | 2,213 |  |  | 14,318 |
Intangible asset amortization expense |  | 5,260 |  |  | 11,094 |  |  | 12,686 |  |  | 29,040 |
Other segment items (a) |  | 1,079 |  |  | 1,076 |  |  | 409 |  |  | 2,564 |
Segment Operating Income |  | $ | 91,612 |  |  | $ | 86,623 |  |  | $ | 34,073 |  |  | $ | 212,308 |
Segment Operating Income Margin |  | 24.7% |  | 20.0% |  | 13.7% |  | 20.2%
Corporate Expenses (b) |  | (41,056) |
Interest Expense, Net (c) |  | (18,113) |
Other Expense, Net (c) |  | (69) |
Income Before Provision for Income Taxes |  | $ | 153,070 |
(In thousands) |  | Flow Control |  | Industrial Processing |  | Material Handling |  | Corporate |  | Total
Other Segment Disclosures |  |  |  |  |  |  |  |  |  |
Depreciation expense (d) |  | $ | 6,675 |  |  | $ | 9,513 |  |  | $ | 4,310 |  |  | $ | 49 |  |  | $ | 20,547 |
Segment assets (e) |  | 431,536 |  |  | 569,817 |  |  | 411,178 |  |  | 17,814 |  |  | 1,430,345 |
Capital expenditures |  | 7,225 |  |  | 8,121 |  |  | 5,638 |  |  | 21 |  |  | 21,005 |
December 30, 2023
(In thousands) |  | Flow Control |  | Industrial Processing |  | Material Handling |  | Total
Revenue |  | $ | 363,451 |  |  | $ | 354,703 |  |  | $ | 239,518 |  |  | $ | 957,672 |
Cost of revenue |  | 175,144 |  |  | 212,247 |  |  | 153,975 |  |  | 541,366 |
Gross Profit |  | 188,307 |  |  | 142,456 |  |  | 85,543 |  |  | 416,306 |
Gross Profit Margin |  | 51.8% |  | 40.2% |  | 35.7% |  | 43.5%
Operating Expenses: |  |  |  |  |  |  |  |
Selling expenses |  | 51,315 |  |  | 31,660 |  |  | 19,978 |  |  | 102,953 |
General and administrative expenses |  | 33,625 |  |  | 27,747 |  |  | 13,836 |  |  | 75,208 |
Research and development expenses |  | 4,865 |  |  | 6,834 |  |  | 1,843 |  |  | 13,542 |
Intangible asset amortization expense |  | 2,953 |  |  | 6,355 |  |  | 9,140 |  |  | 18,448 |
Other segment items (a) |  | 300 |  |  | 579 |  |  | 54 |  |  | 933 |
Segment Operating Income |  | $ | 95,249 |  |  | $ | 69,281 |  |  | $ | 40,692 |  |  | $ | 205,222 |
Segment Operating Income Margin |  | 26.2% |  | 19.5% |  | 17.0% |  | 21.4%
Corporate Expenses (b) |  | (39,465) |
Interest Expense, Net (c) | (6,640) |
Other Expense, Net (c) | (101) |
Income Before Provision for Income Taxes | $ | 159,016 |
(In thousands) |  | Flow Control |  | Industrial Processing |  | Material Handling |  | Corporate |  | Total
Other Segment Disclosures |  |  |  |  |  |  |  |  |  |
Depreciation expense (d) |  | $ | 6,094 |  |  | $ | 5,443 |  |  | $ | 3,239 |  |  | $ | 73 |  |  | $ | 14,849 |
Segment assets (e) |  | 391,719 |  |  | 443,189 |  |  | 326,226 |  |  | 14,531 |  |  | 1,175,665 |
Capital expenditures (f) |  | 5,920 |  |  | 22,068 |  |  | 3,834 |  |  | 28 |  |  | 31,850 |
December 31, 2022
(In thousands) |  | Flow Control |  | Industrial Processing |  | Material Handling |  | Total
Revenue |  | $ | 349,107 |  |  | $ | 353,698 |  |  | $ | 201,934 |  |  | $ | 904,739 |
Cost of revenue |  | 167,513 |  |  | 215,215 |  |  | 132,456 |  |  | 515,184 |
Gross Profit |  | 181,594 |  |  | 138,483 |  |  | 69,478 |  |  | 389,555 |
Gross Profit Margin |  | 52.0% |  | 39.2% |  | 34.4% |  | 43.1%
Operating Expenses: |  |  |  |  |  |  |  |
Selling expenses |  | 49,248 |  |  | 28,314 |  |  | 17,890 |  |  | 95,452 |
General and administrative expenses |  | 33,464 |  |  | 25,950 |  |  | 12,501 |  |  | 71,915 |
Research and development expenses |  | 4,626 |  |  | 6,268 |  |  | 1,767 |  |  | 12,661 |
Intangible asset amortization expense |  | 3,450 |  |  | 7,119 |  |  | 9,938 |  |  | 20,507 |
Gain on sale of asset |  | — |  |  | (20,190) |  |  | — |  |  | (20,190) |
Other segment items (a) |  | 864 |  |  | 1,268 |  |  | (262) |  |  | 1,870 |
Segment Operating Income |  | $ | 89,942 |  |  | $ | 89,754 |  |  | $ | 27,644 |  |  | $ | 207,340 |
Segment Operating Income Margin |  | 25.8% |  | 25.4% |  | 13.7% |  | 22.9%
Corporate Expenses (b) |  | (36,058) |
Interest Expense, Net (c) | (5,574) |
Other Expense, Net (c) | (72) |
Income Before Provision for Income Taxes | $ | 165,636 |
December 31, 2022 (continued)
(In thousands) |  | Flow Control |  | Industrial Processing |  | Material Handling |  | Corporate |  | Total
Other Segment Disclosures |  |  |  |  |  |  |  |  |  |
Depreciation expense (d) |  | $ | 5,729 |  |  | $ | 5,456 |  |  | $ | 3,147 |  |  | $ | 97 |  |  | $ | 14,429 |
Segment assets (e) |  | 386,804 |  |  | 419,095 |  |  | 336,492 |  |  | 7,490 |  |  | 1,149,881 |
Capital expenditures (f) |  | 4,425 |  |  | 20,137 |  |  | 3,575 |  |  | 62 |  |  | 28,199 |
(a)Includes restructuring and impairment costs, acquisition costs, net indemnification asset reversals associated with uncertain tax positions, and certain gains and losses. (b)Primarily consists of general and administrative expenses. (c)The Company does not allocate interest expense, net and other expense, net to its segments. (d)Depreciation expense by reportable segment is included within cost of revenue and selling, general and administrative, and research and development expenses. (e)Excludes intercompany receivables or payables and investment in subsidiary balances as the CODM uses total assets excluding these amounts as the measurement for the Company's segment assets. Corporate assets primarily consist of cash and cash equivalents, tax assets, ROU assets, and property, plant, and equipment, net. (f)Included within Industrial Processing are capital expenditures of $7,424,000 and $10,379,000 in 2023 and 2022, respectively, related to the construction of a new manufacturing facility in China (see Note 8, Gain on Sale and Other Costs, Net).
Summary of Revenue and Long-Lived Assets by Geographical Area | The following tables present the Company’s revenue and long-lived assets by geographical area:
(In thousands) |  | December 28, 2024 |  | December 30, 2023 |  | December 31, 2022
Geographical Information |  |  |  |  |  |
Revenue (a): |  |  |  |  |  |
United States |  | $ | 521,528 |  |  | $ | 448,600 |  |  | $ | 404,835 |
Canada |  | 114,257 |  |  | 73,183 |  |  | 87,951 |
China |  | 75,896 |  |  | 81,458 |  |  | 85,500 |
Germany |  | 43,858 |  |  | 43,036 |  |  | 45,994 |
Other |  | 297,845 |  |  | 311,395 |  |  | 280,459 |
|  | $ | 1,053,384 |  |  | $ | 957,672 |  |  | $ | 904,739 |
Long-lived Assets (b): |  |  |  |  |  |
United States |  | $ | 82,048 |  |  | $ | 48,394 |  |  | $ | 47,483 |
China |  | 23,346 |  |  | 24,380 |  |  | 15,834 |
Germany |  | 19,310 |  |  | 20,953 |  |  | 22,437 |
Finland |  | 18,114 |  |  | 19,958 |  |  | 8,942 |
Canada |  | 10,301 |  |  | 9,136 |  |  | 8,344 |
Other |  | 17,212 |  |  | 17,683 |  |  | 15,815 |
|  | $ | 170,331 |  |  | 140,504 |  |  | 118,855 |
(a)Revenue is attributed to countries based on customer location. (b)Represents property, plant, and equipment, net.

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- Definition Tabular disclosure of information concerning material long-lived assets (excluding financial instruments, customer relationships with financial institutions, mortgage and other servicing rights, deferred policy acquisition costs, and deferred taxes assets) located in identified geographic areas and/or the amount of revenue from external customers attributed to that country from which revenue is material. An entity may also provide subtotals of geographic information about groups of countries. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 220 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 2 -Subparagraph (SX 210.5-03(1)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147483621/220-10-S99-2 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-41 + Details
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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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