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Business Segment Information | 3 Months Ended
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Mar. 29, 2025
Segment Reporting [Abstract] |
Business Segment Information | Business Segment Information The Company is a global supplier of technologies and engineered systems that drive Sustainable Industrial Processing and operates in three reportable segments consisting of its Flow Control segment, Industrial Processing segment, and Material Handling segment. The Company aggregated its operating segments into its reportable segments where they contained similar products and economic characteristics, and shared similar types of customers, and production and distribution methods. The Flow Control segment is comprised of its fluid-handling and its doctoring, cleaning, & filtration operating segments, and the Industrial Processing segment is comprised of its wood processing and its fiber processing operating segments. Each of the Company's reportable segments is led by a segment vice president, who reports directly to the Chief Executive Officer (CEO). The Company has determined that its CEO is its Chief Operating Decision Maker (CODM) who is responsible for assessing performance and allocating resources. The CODM utilizes segment gross profit margin and segment operating income margin to evaluate the performance of each segment and allocate resources effectively. The CODM primarily reviews these profit measures in comparison to forecasts, trends, key performance targets, and results of industry peers to assess profitability, identify areas for improvement, and make strategic decisions regarding investments and resource allocation within each segment. A description of each reportable 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 recycle paper and paperboard and process timber for use in the packaging, tissue, wood products and alternative fuel industries, among others. The Company's primary products include fiber processing 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 segments:
Three Months Ended March 29, 2025
(In thousands) |  | Flow Control |  | Industrial Processing |  | Material Handling |  | Total
Revenue |  | $ | 92,441 |  |  | $ | 89,524 |  |  | $ | 57,245 |  |  | $ | 239,210 |
Cost of revenue |  | 43,168 |  |  | 50,076 |  |  | 35,636 |  |  | 128,880 |
Gross Profit |  | 49,273 |  |  | 39,448 |  |  | 21,609 |  |  | 110,330 |
Gross Profit Margin |  | 53.3% |  | 44.1% |  | 37.7% |  | 46.1%
Operating Expenses: |  |  |  |  |  |  |  |
Selling expenses |  | 14,779 |  |  | 10,177 |  |  | 6,468 |  |  | 31,424 |
General and administrative expenses |  | 8,813 |  |  | 8,387 |  |  | 4,241 |  |  | 21,441 |
Research and development expenses |  | 1,351 |  |  | 1,606 |  |  | 566 |  |  | 3,523 |
Intangible asset amortization expense |  | 1,493 |  |  | 2,378 |  |  | 2,828 |  |  | 6,699 |
Other segment items (a) |  | 85 |  |  | 68 |  |  | (29) |  |  | 124 |
Segment Operating Income |  | $ | 22,752 |  |  | $ | 16,832 |  |  | $ | 7,535 |  |  | $ | 47,119 |
Segment Operating Income Margin |  | 24.6% |  | 18.8% |  | 13.2% |  | 19.7%
Corporate Expenses (b) |  | (11,533) |
Interest Expense, Net |  | (3,305) |
Other Expense, Net |  | (16) |
Income Before Provision for Income Taxes |  | $ | 32,265 |
(In thousands) |  | Flow Control |  | Industrial Processing |  | Material Handling |  | Corporate |  | Total
Other Segment Disclosures |  |  |  |  |  |  |  |  |  |
Depreciation expense (c) |  | $ | 1,798 |  |  | $ | 2,347 |  |  | $ | 1,158 |  |  | $ | 11 |  |  | $ | 5,314 |
Capital expenditures |  | $ | 1,509 |  |  | $ | 1,325 |  |  | $ | 999 |  |  | $ | 3 |  |  | $ | 3,836 |
Three Months Ended March 30, 2024
(In thousands) |  | Flow Control |  | Industrial Processing |  | Material Handling |  | Total
Revenue |  | $ | 86,682 |  |  | $ | 105,861 |  |  | $ | 56,432 |  |  | $ | 248,975 |
Cost of revenue |  | 39,999 |  |  | 61,669 |  |  | 36,345 |  |  | 138,013 |
Gross Profit |  | 46,683 |  |  | 44,192 |  |  | 20,087 |  |  | 110,962 |
Gross Profit Margin |  | 53.9% |  | 41.7% |  | 35.6% |  | 44.6%
Operating Expenses: |  |  |  |  |  |  |  |
Selling expenses |  | 13,544 |  |  | 10,372 |  |  | 6,215 |  |  | 30,131 |
General and administrative expenses |  | 9,068 |  |  | 8,936 |  |  | 4,082 |  |  | 22,086 |
Research and development expenses |  | 1,549 |  |  | 1,675 |  |  | 506 |  |  | 3,730 |
Intangible asset amortization expense |  | 685 |  |  | 2,832 |  |  | 3,354 |  |  | 6,871 |
Other segment items (a) |  | 127 |  |  | 378 |  |  | 389 |  |  | 894 |
Segment Operating Income |  | $ | 21,710 |  |  | $ | 19,999 |  |  | $ | 5,541 |  |  | $ | 47,250 |
Segment Operating Income Margin |  | 25.0% |  | 18.9% |  | 9.8% |  | 19.0%
Corporate Expenses (b) |  | (10,323) |
Interest Expense, Net | (4,058) |
Other Expense, Net | (30) |
Income Before Provision for Income Taxes | $ | 32,839 |
(In thousands) |  | Flow Control |  | Industrial Processing |  | Material Handling |  | Corporate |  | Total
Other Segment Disclosures |  |  |  |  |  |  |  |  |  |
Depreciation expense (c) |  | $ | 1,536 |  |  | $ | 2,327 |  |  | $ | 993 |  |  | $ | 12 |  |  | $ | 4,868 |
Capital expenditures |  | $ | 1,874 |  |  | $ | 2,883 |  |  | $ | 1,506 |  |  | $ | 8 |  |  | $ | 6,271 |
|  | March 29, 2025 |  | December 28, 2024
(In thousands) |  |
Total Assets (d) |  |  |  |
Flow Control |  | $ | 439,798 |  |  | $ | 431,536 |
Industrial Processing |  | 571,962 |  |  | 569,817 |
Material Handling |  | 415,336 |  |  | 411,178 |
Corporate (e) |  | 8,343 |  |  | 17,814 |
|  | $ | 1,435,439 |  |  | $ | 1,430,345 |
(a)Includes 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)Depreciation expense by reportable segment is included within cost of revenue and selling, general and administrative, and research and development expenses. (d)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. (e)Corporate assets primarily consist of cash and cash equivalents, tax assets, right-of-use assets, and property, plant, and equipment, net.

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- Definition The entire disclosure for reporting segments including data and tables. 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