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Nature of Operations and Summary of Significant Accounting Policies (Tables)
 9 Months Ended
Sep. 28, 2024
Accounting Policies [Abstract]  
Supplemental Cash Flow Information
Supplemental Cash Flow Information
 Nine Months Ended
(In thousands)September 28,
2024		September 30,
2023
Cash Paid for Interest$15,034 $6,341 
Cash Paid for Income Taxes, Net of Refunds$33,288 $34,037 
Non-Cash Investing Activities (Note 2):
Fair value of assets acquired (adjusted)$360,021 $(270)
Fair value of liabilities assumed
$35,575 $7 
Fair value of noncontrolling interest acquired
$9,319 $— 
Fair value of contingent consideration
$1,785 $— 
Purchases of property, plant, and equipment in accounts payable$590 $749 
 Nine Months Ended
(In thousands)September 28,
2024		September 30,
2023
Non-Cash Financing Activities:  
Issuance of Company common stock upon vesting of restricted stock units$5,364 $4,951 
Dividends declared but unpaid$3,759 $3,395 
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)September 28,
2024		September 30,
2023		December 30,
2023		December 31,
2022
Cash and cash equivalents$88,407 $76,793 $103,832 $76,371 
Restricted cash1,327 2,260 2,621 3,354 
Total Cash, Cash Equivalents, and Restricted Cash$89,734 $79,053 $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)September 28,
2024		September 30,
2023		December 30,
2023		December 31,
2022
Cash and cash equivalents$88,407 $76,793 $103,832 $76,371 
Restricted cash1,327 2,260 2,621 3,354 
Total Cash, Cash Equivalents, and Restricted Cash$89,734 $79,053 $106,453 $79,725 
Inventories
The components of inventories are as follows:
 September 28,
2024		December 30,
2023
(In thousands)
Raw Materials$69,672 $66,738 
Work in Process37,767 32,147 
Finished Goods (includes $804 and $5,182 at customer locations)
61,813 53,792 
$169,252 $152,677 
Acquired Intangible Assets
Acquired intangible assets by major asset class are as follows:
(In thousands)GrossAccumulated
Amortization		Currency
Translation		Net
September 28, 2024
Definite-Lived
Customer relationships$333,966 $(122,730)$(5,558)$205,678 
Product technology92,535 (47,816)(2,157)42,562 
Tradenames16,579 (4,860)(380)11,339 
Other24,721 (20,129)(571)4,021 
 467,801 (195,535)(8,666)263,600 
Indefinite-Lived
Tradenames29,059 — (448)28,611 
Acquired Intangible Assets$496,860 $(195,535)$(9,114)$292,211 
 
 
 
 
(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)
16,018 36,405 47,808 100,231 
   Measurement period adjustment for 2023 acquisition— (22)— (22)
   Currency translation767 (680)725 812 
   Total 2024 activity16,785 35,703 48,533 101,021 
Balance at September 28, 2024   
Gross balance137,567 248,435 192,641 578,643 
Accumulated impairment losses— (85,538)— (85,538)
Net balance$137,567 $162,897 $192,641 $493,105 
Changes in the Carrying Amount of Product Warranty Obligations The changes in the carrying amount of product warranty obligations are as follows:
 Nine Months Ended
(In thousands)September 28,
2024		September 30,
2023
Balance at Beginning of Year$8,154 $7,283 
Provision charged to expense4,463 4,879 
Usage(2,972)(3,391)
Acquisitions473 — 
Currency translation37 (90)
Balance at End of Period$10,155 $8,681 
Revenue Recognition Method and Disaggregation of Revenue by Product Type and Geography
The following table presents revenue by revenue recognition method:
Three Months EndedNine Months Ended
September 28,September 30,September 28,September 30,
(In thousands)2024202320242023
Point in Time$238,971 $216,956 $701,199 $643,430 
Over Time32,643 27,226 94,155 75,563 
$271,614 $244,182 $795,354 $718,993 
The following table presents the disaggregation of revenue by product type and geography:
Three Months EndedNine Months Ended
September 28,September 30,September 28,September 30,
(In thousands)2024202320242023
Revenue by Product Type:
    
Parts and consumables$176,961 $149,564 $520,836 $454,209 
Capital94,653 94,618 274,518 264,784 
$271,614 $244,182 $795,354 $718,993 
Revenue by Geography (based on customer location):    
North America$172,186 $133,780 501,220 401,618 
Europe57,309 66,491 176,289 181,273 
Asia26,724 27,393 74,248 88,030 
Rest of world15,395 16,518 43,597 48,072 
$271,614 $244,182 $795,354 $718,993 
Contract Balances From Contracts With Customers
The following table presents contract balances from contracts with customers:
 September 28,
2024		December 30,
2023
(In thousands)
Contract Assets$14,534 $8,366 
Contract Liabilities$58,324 $79,397