Business Segment and Geographical Information (Tables)

12 Months Ended

Dec. 31, 2022

The following table presents financial information for the Company's reportable operating segments:


(In thousands)	December 31, 2022		January 1, 2022		January 2, 2021
Revenue
Flow Control (a)	$	349,107	$	288,788	$	225,444
Industrial Processing	353,698		328,762		261,577
Material Handling (b)	201,934		169,029		148,007
	$	904,739	$	786,579	$	635,028
Income Before Provision for Income Taxes
Flow Control (a,c)	$	89,942	$	65,509	$	51,530
Industrial Processing (d)	89,754		66,569		42,971
Material Handling (b,e)	27,644		17,543		14,375
Corporate (f)	(36,058)		(32,911)		(27,752)
Total operating income	171,282		116,710		81,124
Interest expense, net (g)	(5,574)		(4,554)		(7,242)
Other expense, net (g)	(72)		(104)		(195)
	$	165,636	$	112,052	$	73,687
Total Assets (h)
Flow Control (a)	$	386,804	$	382,379	$	263,141
Industrial Processing	419,095		405,575		379,965
Material Handling (b)	336,492		334,785		273,909
Corporate (i)	7,490		9,473		10,556
	$	1,149,881	$	1,132,212	$	927,571
Depreciation and Amortization
Flow Control (a)	$	9,179	$	8,366	$	6,333
Industrial Processing	12,575		13,467		13,163
Material Handling (b)	13,085		12,341		11,628
Corporate	97		128		210
	$	34,936	$	34,302	$	31,334


(In thousands)	December 31, 2022		January 1, 2022		January 2, 2021
Capital Expenditures
Flow Control (a)	$	4,425	$	4,128	$	2,808
Industrial Processing (j)	20,137		6,412		3,123
Material Handling (b)	3,575		2,211		1,539
Corporate	62		20		125
	$	28,199	$	12,771	$	7,595
Geographical Information
Revenue (k):
United States (b)	$	404,835	$	328,456	$	286,015
Canada	87,951		79,426		62,059
China	85,500		82,121		51,003
Germany (a)	45,994		37,178		23,292

Other	280,459		259,398		212,659
	$	904,739	$	786,579	$	635,028
Long-lived Assets (l):
United States (b)	$	47,483	$	43,418	$	40,293
Canada	8,344		8,460		7,221

China (j)	15,834		6,613		9,844
Germany (a)	22,437		25,188		6,051
Other	24,757		24,310		21,233
	$	118,855	$	107,989	$	84,642

(a)Includes results from Clouth, which was acquired between July 19, 2021 and August 10, 2021 (see Note 2, Acquisitions).

(b)Includes results from Balemaster, which was acquired on August 23, 2021 (see Note 2, Acquisitions).

(c)Includes acquisition-related expenses of $254,000 and $6,191,000 in 2022 and 2021, respectively. Acquisition-related expenses include acquisition costs and amortization expense associated with acquired profit in inventory and backlog. Includes non-cash charges for the write-off of indemnification assets of $741,000 in 2022. Includes impairment and restructuring costs of $568,000, $980,000 and $659,000 in 2022, 2021 and 2020, respectively.

(d)Includes a gain on the sale of a facility of $20,190,000 (see Note 8, Gain on Sale and Other Costs, Net), non-cash charges for the write-off of an indemnification asset of $575,000 and impairment and restructuring costs of $766,000 in 2022. Includes a gain on the sale of a building of $515,000 and acquisition-related expenses of $223,000 in 2021. Includes acquisition-related expenses of $679,000 and impairment and restructuring costs of $2,138,000 in 2020.

(e)Includes acquisition-related expenses of $899,000, $2,851,000, and $350,000 in 2022, 2021 and 2020, respectively.

(f)Represents general and administrative expenses.

(g)The Company does not allocate interest and other expense, net to its segments.

(h)Excludes all intercompany receivables or payables and investment in subsidiary balances.

(i)Primarily includes cash and cash equivalents, tax assets, ROU assets, and property, plant, and equipment, net.

(j)Includes capital expenditures of $10,379,000 in 2022 associated with the construction of a manufacturing facility in China. See Note 8, Gain on Sale and Other Costs, Net.

(k)Revenue is attributed to countries based on customer location.

(l)Represents property, plant, and equipment, net.