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Business Segment and Geographical Information
 12 Months Ended
Dec. 30, 2023
Segment Reporting [Abstract]  
Business Segment and Geographical Information Business Segment and Geographical Information
The Company has combined its operating entities into 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, 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 stock-preparation systems and recycling equipment, chemical pulping equipment, debarkers, stranders, and chippers. 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 table presents financial information for the Company's reportable operating segments:
(In thousands)December 30, 2023December 31, 2022January 1, 2022
Revenue
Flow Control (a)
$363,451 $349,107 $288,788 
Industrial Processing354,703 353,698 328,762 
Material Handling (b)
239,518 201,934 169,029 
 $957,672 $904,739 $786,579 
Income Before Provision for Income Taxes   
Flow Control (c)
$95,249 $89,942 $65,509 
Industrial Processing (d)
69,281 89,754 66,569 
Material Handling (e)
40,692 27,644 17,543 
Corporate (f)
(39,465)(36,058)(32,911)
Total operating income165,757 171,282 116,710 
Interest expense, net (g)
(6,640)(5,574)(4,554)
Other expense, net (g)
(101)(72)(104)
 $159,016 $165,636 $112,052 
Total Assets (h)
Flow Control
$391,719 $386,804 $382,379 
Industrial Processing443,189 419,095 405,575 
Material Handling
326,226 336,492 334,785 
Corporate (i)
14,531 7,490 9,473 
$1,175,665 $1,149,881 $1,132,212 
Depreciation and Amortization   
Flow Control
$9,047 $9,179 $8,366 
Industrial Processing11,798 12,575 13,467 
Material Handling
12,379 13,085 12,341 
Corporate73 97 128 
$33,297 $34,936 $34,302 
Capital Expenditures   
Flow Control
$5,920 $4,425 $4,128 
Industrial Processing (j)
22,068 20,137 6,412 
Material Handling
3,834 3,575 2,211 
Corporate28 62 20 
 $31,850 $28,199 $12,771 
(In thousands)December 30, 2023December 31, 2022January 1, 2022
Geographical Information   
Revenue (k):
   
United States $448,600 $404,835 $328,456 
China81,458 85,500 82,121 
Canada73,183 87,951 79,426 
Germany43,036 45,994 37,178 
Other311,395 280,459 259,398 
 $957,672 $904,739 $786,579 
Long-lived Assets (l):
   
United States$48,394 $47,483 $43,418 
China (j)24,380 15,834 6,613 
Germany20,953 22,437 25,188 
Finland19,958 8,942 7,347 
Canada9,136 8,344 8,460 
Other17,683 15,815 16,963 
 $140,504 $118,855 $107,989 
(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 restructuring and impairment costs of $766,000, $568,000 and $980,000 in 2023, 2022 and 2021, respectively. 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.
(d)Includes other income of $841,000, acquisition costs of $1,066,000, and relocation costs of $798,000 in 2023. Includes a gain on the sale of a facility of $20,190,000 (see Note 8, Gain on Sale and Other Items, Net), non-cash charges for the write-off of an indemnification asset of $575,000 and restructuring and impairment 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.
(e)Includes acquisition-related expenses of $376,000, $899,000 and $2,851,000 in 2023, 2022 and 2021, respectively. Includes a non-cash charge for the write-off of an indemnification asset of $126,000 in 2023.
(f)Primarily consists of general and administrative expenses.
(g)The Company does not allocate interest expense, net 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 $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 Items, Net).
(k)Revenue is attributed to countries based on customer location.
(l)Represents property, plant, and equipment, net.