v3.26.1
Nature of Operations and Summary of Significant Accounting Policies (Tables)
 6 Months Ended
Jul. 04, 2026
Accounting Policies [Abstract]  
Schedule of Supplemental Cash Flow Information
Supplemental Cash Flow Information
Six Months Ended
(In thousands)July 4,
2026		June 28,
2025
Cash Paid for Interest$9,459 $6,993 
Cash Paid for Income Taxes, Net of Refunds$25,079 $23,825 
Non-Cash Investing Activities:
Deferred purchase consideration$719 $— 
Purchases of property, plant, and equipment in accounts payable$1,525 $1,090 
Non-Cash Financing Activities:
Issuance of Company common stock upon vesting of restricted stock units$5,834 $5,450 
Dividends declared but unpaid$4,251 $4,004 
Schedule of 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)July 4,
2026		January 3,
2026		June 28,
2025		December 28,
2024
Cash and cash equivalents$134,533 $119,551 $95,321 $94,660 
Restricted cash3,091 3,130 1,867 1,286 
Total Cash, Cash Equivalents, and Restricted Cash$137,624 $122,681 $97,188 $95,946 
Schedule of 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)July 4,
2026		January 3,
2026		June 28,
2025		December 28,
2024
Cash and cash equivalents$134,533 $119,551 $95,321 $94,660 
Restricted cash3,091 3,130 1,867 1,286 
Total Cash, Cash Equivalents, and Restricted Cash$137,624 $122,681 $97,188 $95,946 
Schedule of Inventories
The components of inventories are as follows:
July 4,
2026		January 3,
2026
(In thousands)
Raw Materials$91,574 $92,674 
Work in Process55,062 44,455 
Finished Goods (includes $1,526 and $3,556 at customer locations)
69,823 69,725 
$216,459 $206,854 
Schedule of Acquired Intangible Assets
Acquired intangible assets by major asset class are as follows:
(In thousands)GrossAccumulated
Amortization		Currency
Translation		Net
July 4, 2026
Definite-Lived
Customer relationships$421,763 $(161,147)$(5,754)$254,862 
Product technology112,180 (58,082)(2,460)51,638 
Tradenames23,926 (6,772)(420)16,734 
Other25,221 (22,627)(563)2,031 
583,090 (248,628)(9,197)325,265 
Indefinite-Lived
Tradenames29,059 — (392)28,667 
Acquired Intangible Assets$612,149 $(248,628)$(9,589)$353,932 
 
 
 
 
January 3, 2026
Definite-Lived
Customer relationships$414,629 $(148,139)$(4,483)$262,007 
Product technology96,744 (54,929)(2,076)39,739 
Tradenames23,926 (6,106)(366)17,454 
Other25,221 (22,443)(574)2,204 
560,520 (231,617)(7,499)321,404 
Indefinite-Lived
Tradenames29,059 — (87)28,972 
Acquired Intangible Assets$589,579 $(231,617)$(7,586)$350,376 
Schedule of Changes in the Carrying Amount of Goodwill
The changes in the carrying amount of goodwill by reportable segment are as follows:
(In thousands)Flow ControlIndustrial ProcessingMaterial HandlingTotal
Balance at January 3, 2026
Gross balance$139,759 $306,319 $195,081 $641,159 
Accumulated impairment losses— (85,538)— (85,538)
Net balance139,759 220,781 195,081 555,621 
2026 Activity
   Acquisition (Note 2)
— 111,140 — 111,140 
   Measurement-period adjustments for 2025 acquisitions— 1,328 — 1,328 
   Currency translation(1,667)(4,730)(785)(7,182)
   Total 2026 activity(1,667)107,738 (785)105,286 
Balance at July 4, 2026
Gross balance138,092 414,057 194,296 746,445 
Accumulated impairment losses— (85,538)— (85,538)
Net balance$138,092 $328,519 $194,296 $660,907 
Schedule of Revenue Recognition Method and Disaggregation of Revenue by Product Type and Geography
The following table presents revenue by revenue recognition method:
Three Months EndedSix Months Ended
July 4,June 28,July 4,June 28,
(In thousands)2026202520262025
Point in Time$290,898 $234,836 $557,058 $452,504 
Over Time21,977 20,431 37,322 41,973 
$312,875 $255,267 $594,380 $494,477 
The following table presents the disaggregation of revenue by product type and geography:
Three Months EndedSix Months Ended
July 4,June 28,July 4,June 28,
(In thousands)2026202520262025
Revenue by Product Type:
Parts and consumables$214,163 $181,783 $423,662 $361,091 
Capital98,712 73,484 170,718 133,386 
$312,875 $255,267 $594,380 $494,477 
Revenue by Geography (based on customer location):
North America$186,796 $157,968 $353,359 $317,838 
Europe72,842 63,230 135,044 112,571 
Asia33,544 20,941 64,300 39,643 
Rest of world19,693 13,128 41,677 24,425 
$312,875 $255,267 $594,380 $494,477 
Schedule of Contract Balances From Contracts With Customers
The following table presents contract balances from contracts with customers:
July 4,
2026		January 3,
2026
(In thousands)
Contract Assets$9,025 $6,599 
Contract Liabilities$59,991 $69,093