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Nature of Operations and Summary of Significant Accounting Policies (Tables)
 3 Months Ended
Mar. 30, 2024
Accounting Policies [Abstract]  
Supplemental Cash Flow Information
Supplemental Cash Flow Information
 Three Months Ended
(In thousands)March 30,
2024		April 1,
2023
Cash Paid for Interest$4,484 $2,161 
Cash Paid for Income Taxes, Net of Refunds$7,313 $9,558 
Non-Cash Investing Activities:
Fair value of assets acquired
$266,061 $— 
Cash paid for businesses acquired
(238,306)— 
Liabilities assumed and noncontrolling interests acquired
$27,755 $— 
Purchases of property, plant, and equipment in accounts payable$1,342 $299 
 Three Months Ended
(In thousands)March 30,
2024		April 1,
2023
Non-Cash Financing Activities:  
Issuance of Company common stock upon vesting of restricted stock units$4,703 $4,246 
Dividends declared but unpaid$3,758 $3,394 
Cash and Cash Equivalents
The following table provides a reconciliation of cash, cash equivalents, and restricted cash reported within the accompanying condensed consolidated balance sheet that are shown in aggregate in the accompanying condensed consolidated statement of cash flows:
(In thousands)March 30,
2024		April 1,
2023		December 30,
2023		December 31,
2022
Cash and cash equivalents$81,440 $81,183 $103,832 $76,371 
Restricted cash1,178 4,324 2,621 3,354 
Total Cash, Cash Equivalents, and Restricted Cash$82,618 $85,507 $106,453 $79,725 
Restricted Cash
The following table provides a reconciliation of cash, cash equivalents, and restricted cash reported within the accompanying condensed consolidated balance sheet that are shown in aggregate in the accompanying condensed consolidated statement of cash flows:
(In thousands)March 30,
2024		April 1,
2023		December 30,
2023		December 31,
2022
Cash and cash equivalents$81,440 $81,183 $103,832 $76,371 
Restricted cash1,178 4,324 2,621 3,354 
Total Cash, Cash Equivalents, and Restricted Cash$82,618 $85,507 $106,453 $79,725 
Inventories
The components of inventories are as follows:
 March 30,
2024		December 30,
2023
(In thousands)
Raw Materials$70,695 $66,738 
Work in Process41,180 32,147 
Finished Goods (includes $3,581 and $5,182 at customer locations)
60,083 53,792 
$171,958 $152,677 
Acquired Intangible Assets
Acquired intangible assets by major asset class are as follows:
(In thousands)GrossAccumulated
Amortization		Currency
Translation		Net
March 30, 2024
Definite-Lived
Customer relationships$318,271 $(113,072)$(6,733)$198,466 
Product technology82,276 (45,051)(2,632)34,593 
Tradenames14,489 (4,441)(419)9,629 
Other22,020 (18,589)(616)2,815 
 437,056 (181,153)(10,400)245,503 
Indefinite-Lived
Tradenames29,059 — (731)28,328 
Acquired Intangible Assets$466,115 $(181,153)$(11,131)$273,831 
 
 
 
 
(In thousands)GrossAccumulated
Amortization		Currency
Translation		Net
December 30, 2023    
Definite-Lived
Customer relationships$218,959 $(108,519)$(5,562)$104,878 
Product technology67,576 (43,786)(2,367)21,423 
Tradenames7,039 (4,262)(388)2,389 
Other20,320 (17,715)(604)2,001 
 313,894 (174,282)(8,921)130,691 
Indefinite-Lived
Tradenames29,059 — (464)28,595 
Acquired Intangible Assets$342,953 $(174,282)$(9,385)$159,286 
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 December 30, 2023   
Gross balance$120,782 $212,732 $144,108 $477,622 
Accumulated impairment losses— (85,538)— (85,538)
Net balance120,782 127,194 144,108 392,084 
2024 Activity
Acquisitions (Note 2)
— 34,058 38,468 72,526 
   Fair value adjustment— (22)— (22)
   Currency translation(1,792)(1,911)(968)(4,671)
   Total 2024 activity(1,792)32,125 37,500 67,833 
Balance at March 30, 2024   
Gross balance118,990 244,857 181,608 545,455 
Accumulated impairment losses— (85,538)— (85,538)
Net balance$118,990 $159,319 $181,608 $459,917 
Changes in the Carrying Amount of Product Warranty Obligations The changes in the carrying amount of product warranty obligations are as follows:
 Three Months Ended
(In thousands)March 30,
2024		April 1,
2023
Balance at Beginning of Year$8,154 $7,283 
Provision charged to expense1,069 1,425 
Usage(724)(1,068)
Acquisitions475 — 
Currency translation(150)87 
Balance at End of Period$8,824 $7,727 
Revenue Recognition Method and Disaggregation of Revenue by Product Type and Geography
The following table presents revenue by revenue recognition method:
Three Months Ended
March 30,April 1,
(In thousands)20242023
Point in Time$216,493 $204,239 
Over Time32,482 25,519 
$248,975 $229,758 
The following table presents the disaggregation of revenue by product type and geography:
Three Months Ended
March 30,April 1,
(In thousands)20242023
Revenue by Product Type:
  
Parts and consumables$171,130 $151,563 
Capital77,845 78,195 
$248,975 $229,758 
Revenue by Geography (based on customer location):  
North America$156,491 $132,453 
Europe55,787 54,157 
Asia22,554 27,770 
Rest of world14,143 15,378 
$248,975 $229,758 
Contract Balances From Contracts With Customers
The following table presents contract balances from contracts with customers:
 March 30,
2024		December 30,
2023
(In thousands)
Contract Assets$10,673 $8,366 
Contract Liabilities$78,856 $79,397