Business Segment and Geographical Information (Tables)

12 Months Ended

Jan. 03, 2026

The following tables present financial information for the Company's reportable segments:


January 3, 2026
(In thousands)	Flow Control		Industrial Processing		Material Handling		Total
Revenue	$	382,866	$	409,489	$	259,893	$	1,052,248
Cost of revenue	182,450		233,300		160,770		576,520
Gross Profit	200,416		176,189		99,123		475,728
Gross Profit Margin	52.3%		43.0%		38.1%		45.2%
Operating Expenses:
Selling expenses	58,422		44,841		27,273		130,536
General and administrative expenses	37,755		38,408		17,837		94,000
Research and development expenses	5,580		7,441		2,243		15,264
Intangible asset amortization expense	5,616		11,764		10,915		28,295
Other segment items (a)	235		5,987		(386)		5,836
Segment Operating Income	$	92,808	$	67,748	$	41,241	$	201,797
Segment Operating Income Margin	24.2%		16.5%		15.9%
Corporate Expenses (b)							(44,509)
Interest Expense, Net (c)							(13,642)
Other Expense, Net (c)							(61)
Income Before Provision for Income Taxes							$	143,585


(In thousands)	Flow Control		Industrial Processing		Material Handling		Corporate		Total
Other Segment Disclosures
Depreciation expense (d)	$	7,536	$	10,640	$	4,697	$	51	$	22,924
Segment assets (e)	450,911		826,062		411,813		23,392		1,712,178
Capital expenditures	6,051		5,543		5,309		145		17,048


December 28, 2024
(In thousands)	Flow Control		Industrial Processing		Material Handling		Total
Revenue	$	371,177	$	432,738	$	249,469	$	1,053,384
Cost of revenue	176,340		252,068		158,828		587,236
Gross Profit	194,837		180,670		90,641		466,148
Gross Profit Margin	52.5%		41.8%		36.3%		44.3%
Operating Expenses:
Selling expenses	55,326		42,008		24,592		121,926
General and administrative expenses	35,686		33,638		16,668		85,992
Research and development expenses	5,874		6,231		2,213		14,318
Intangible asset amortization expense	5,260		11,094		12,686		29,040
Other segment items (a)	1,079		1,076		409		2,564
Segment Operating Income	$	91,612	$	86,623	$	34,073	$	212,308
Segment Operating Income Margin	24.7%		20.0%		13.7%
Corporate Expenses (b)							(41,056)
Interest Expense, Net (c)							(18,113)
Other Expense, Net (c)							(69)
Income Before Provision for Income Taxes							$	153,070


December 28, 2024 (continued)
(In thousands)	Flow Control		Industrial Processing		Material Handling		Corporate		Total
Other Segment Disclosures
Depreciation expense (d)	$	6,675	$	9,513	$	4,310	$	49	$	20,547
Segment assets (e)	431,536		569,817		411,178		17,814		1,430,345
Capital expenditures	7,225		8,121		5,638		21		21,005


December 30, 2023
(In thousands)	Flow Control		Industrial Processing		Material Handling		Total
Revenue	$	363,451	$	354,703	$	239,518	$	957,672
Cost of revenue	175,144		212,247		153,975		541,366
Gross Profit	188,307		142,456		85,543		416,306
Gross Profit Margin	51.8%		40.2%		35.7%		43.5%
Operating Expenses:
Selling expenses	51,315		31,660		19,978		102,953
General and administrative expenses	33,625		27,747		13,836		75,208
Research and development expenses	4,865		6,834		1,843		13,542
Intangible asset amortization expense	2,953		6,355		9,140		18,448

Other segment items (a)	300		579		54		933
Segment Operating Income	$	95,249	$	69,281	$	40,692	$	205,222
Segment Operating Income Margin	26.2%		19.5%		17.0%
Corporate Expenses (b)							(39,465)
Interest Expense, Net (c)							(6,640)
Other Expense, Net (c)							(101)
Income Before Provision for Income Taxes							$	159,016


(In thousands)	Flow Control		Industrial Processing		Material Handling		Corporate		Total
Other Segment Disclosures
Depreciation expense (d)	$	6,094	$	5,443	$	3,239	$	73	$	14,849
Segment assets (e)	391,719		443,189		326,226		14,531		1,175,665
Capital expenditures (f)	5,920		22,068		3,834		28		31,850

(a)Includes acquisition costs, net indemnification asset reversals associated with uncertain tax positions, restructuring and impairment costs, and certain other income or expense.

(b)Primarily consists of general and administrative expenses.

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

(d)Depreciation expense by reportable segment is included within cost of revenue and selling, general and administrative, and research and development expenses.

(e)Excludes intercompany receivables or payables and investment in subsidiary balances as the CODM uses total assets excluding these amounts as the measurement for the Company's segment assets. Corporate assets primarily consist of cash and cash equivalents, tax assets, ROU assets, and property, plant, and equipment, net.

(f)Included within the Industrial Processing segment are capital expenditures of $7,424,000 in 2023 related to the construction of a new manufacturing facility in China.

Summary of Revenue and Long-Lived Assets by Geographical Area

The following tables present the Company’s revenue and long-lived assets by geographical area:


(In thousands)	January 3, 2026		December 28, 2024		December 30, 2023
Geographical Information
Revenue (a):
United States	$	534,041	$	521,528	$	448,600
Canada	104,169		114,257		73,183
China	62,604		75,896		81,458
Germany	44,246		43,858		43,036
Other	307,188		297,845		311,395
	$	1,052,248	$	1,053,384	$	957,672

Long-lived Assets (b):
United States	$	91,655	$	82,048	$	48,394
China	23,438		23,346		24,380
Germany	21,022		19,310		20,953
Finland	19,667		18,114		19,958
Canada	9,622		10,301		9,136
Other	31,252		17,212		17,683
	$	196,656	$	170,331	$	140,504

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

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