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Nature of Operations and Summary of Significant Accounting Policies (Tables)
 9 Months Ended
Oct. 02, 2021
Accounting Policies [Abstract]  
Supplemental Cash Flow Information
 Nine Months Ended
(In thousands)October 2,
2021		September 26,
2020
Cash Paid for Interest$3,091 $5,518 
Cash Paid for Income Taxes, Net of Refunds$19,320 $9,953 
Non-Cash Investing Activities:
Fair value of assets acquired$185,424 $9,295 
Cash paid for acquired businesses(149,961)(7,565)
Liabilities Assumed of Acquired Businesses$35,463 $1,730 
Purchases of property, plant, and equipment in accounts payable$914 $101 
Non-Cash Financing Activities:  
Issuance of Company common stock upon vesting of restricted stock units$3,841 $4,557 
Dividends declared but unpaid$2,901 $2,762 
Cash and Cash Equivalents
The following table provides a reconciliation of cash, cash equivalents, and restricted cash reported within the Company's condensed consolidated balance sheet that are shown in aggregate in the accompanying condensed consolidated statement of cash flows:
(In thousands)October 2,
2021		September 26,
2020		January 2,
2021		December 28,
2019
Cash and cash equivalents$82,600 $53,554 $65,682 $66,786 
Restricted cash1,064 2,650 958 1,487 
Total Cash, Cash Equivalents, and Restricted Cash$83,664 $56,204 $66,640 $68,273 
Restricted Cash
The following table provides a reconciliation of cash, cash equivalents, and restricted cash reported within the Company's condensed consolidated balance sheet that are shown in aggregate in the accompanying condensed consolidated statement of cash flows:
(In thousands)October 2,
2021		September 26,
2020		January 2,
2021		December 28,
2019
Cash and cash equivalents$82,600 $53,554 $65,682 $66,786 
Restricted cash1,064 2,650 958 1,487 
Total Cash, Cash Equivalents, and Restricted Cash$83,664 $56,204 $66,640 $68,273 
Inventories
The components of inventories are as follows:
 October 2,
2021		January 2,
2021
(In thousands)
Raw Materials$57,616 $46,413 
Work in Process34,636 17,692 
Finished Goods43,224 42,709 
$135,476 $106,814 
Acquired Intangible Assets
Acquired intangible assets by major asset class are as follows:
(In thousands)GrossAccumulated
Amortization		Currency
Translation		Net
October 2, 2021
Definite-Lived
Customer relationships$215,366 $(75,978)$(2,613)$136,775 
Product technology67,625 (34,615)(1,468)31,542 
Tradenames7,427 (3,278)(346)3,803 
Other20,110 (15,463)(552)4,095 
 310,528 (129,334)(4,979)176,215 
Indefinite-Lived
Tradenames29,059 — 54 29,113 
Acquired Intangible Assets$339,587 $(129,334)$(4,925)$205,328 
January 2, 2021   
Definite-Lived
Customer relationships$173,728 $(65,488)$(1,316)$106,924 
Product technology56,111 (31,655)(1,005)23,451 
Tradenames6,027 (2,946)(282)2,799 
Other18,248 (14,369)(515)3,364 
 254,114 (114,458)(3,118)136,538 
Indefinite-Lived
Tradenames24,100 — 327 24,427 
Acquired Intangible Assets$278,214 $(114,458)$(2,791)$160,965 
Changes in the Carrying Amount of Goodwill
The changes in the carrying amount of goodwill by segment are as follows:
(In thousands)Flow ControlIndustrial ProcessingMaterial HandlingTotal
Balance at January 2, 2021   
Gross balance$101,437 $215,881 $119,944 $437,262 
Accumulated impairment losses— (85,509)— (85,509)
Net balance101,437 130,372 119,944 351,753 
2021 Adjustments
   Acquisitions (Note 2)25,349 — 27,699 53,048 
   Currency translation(2,417)(1,351)(2,126)(5,894)
   Total 2021 adjustments22,932 (1,351)25,573 47,154 
Balance at October 2, 2021   
Gross balance124,369 214,530 145,517 484,416 
Accumulated impairment losses— (85,509)— (85,509)
Net balance$124,369 $129,021 $145,517 $398,907 
Warranty Obligations
The changes in the carrying amount of product warranty obligations are as follows:
 Nine Months Ended
(In thousands)October 2,
2021		September 26,
2020
Balance at Beginning of Year$7,064 $6,467 
Provision charged to expense3,289 3,960 
Usage(3,106)(3,809)
Acquisitions429 — 
Currency translation(210)114 
Balance at End of Period$7,466 $6,732 
Revenue by Product Line, Product Type, Geography, and Revenue Recognition Method
The following table presents revenue by revenue recognition method:
Three Months EndedNine Months Ended
October 2,September 26,October 2,September 26,
(In thousands)2021202020212020
Point in Time$181,407 $137,679 $511,303 $403,568 
Over Time18,382 16,931 56,760 63,029 
$199,789 $154,610 $568,063 $466,597 
The following table presents the disaggregation of revenue by product type and geography:
Three Months EndedNine Months Ended
October 2,September 26,October 2,September 26,
(In thousands)2021202020212020
Revenue by Product Type:
    
Parts and consumables$131,225 $102,729 $374,307 $305,087 
Capital68,564 51,881 193,756 161,510 
$199,789 $154,610 $568,063 $466,597 
Revenue by Geography (based on customer location):    
North America$105,384 $87,366 307,243 269,907 
Europe58,813 38,951 159,281 112,881 
Asia25,504 18,847 72,046 50,992 
Rest of world10,088 9,446 29,493 32,817 
$199,789 $154,610 $568,063 $466,597 
Balances from Contracts with Customers
The following table presents contract balances from contracts with customers:
 October 2,
2021		January 2,
2021
(In thousands)
Accounts Receivable$120,496 $91,540 
Contract Assets$7,915 $7,576 
Contract Liabilities$67,025 $39,269