Circor International (CIR) 10-Q 1 Jun 20 2020 Q1 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	3 Months Ended
	Mar. 29, 2020	May 24, 2020
Document And Entity Information [Abstract]
Entity Registrant Name	CIRCOR INTERNATIONAL, INC
Entity Central Index Key	0001091883
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Document Type	10-Q
Document Period End Date	Mar. 29, 2020
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q1
Amendment Flag	false
Entity Common Stock, Shares Outstanding		19,988,328

Document and Entity Informati_2

Document and Entity Information Document - shares	3 Months Ended
	Mar. 29, 2020	May 24, 2020
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 29, 2020
Document Transition Report	false
Entity File Number	001-14962
Entity Registrant Name	CIRCOR INTERNATIONAL, INC
Entity Central Index Key	0001091883
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q1
Amendment Flag	false
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	04-3477276
Entity Address, City or Town	Burlington,
Entity Address, State or Province	MA
Entity Address, Postal Zip Code	01803-4238
City Area Code	781
Local Phone Number	270-1200
Title of 12(b) Security	Common Stock, par value $0.01 per share
Trading Symbol	CIR
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		19,988,328

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Mar. 29, 2020	Dec. 31, 2019
CURRENT ASSETS:
Cash and cash equivalents	$ 170,861	$ 84,531
Trade accounts receivable, less allowance for doubtful accounts of $9,017 and $3,086 at March 29, 2020 and December 31, 2019, respectively	116,514	125,422
Inventories	147,175	137,309
Prepaid expenses and other current assets	86,840	66,664
Assets held for sale	26,617	161,193
Total Current Assets	548,007	575,119
PROPERTY, PLANT AND EQUIPMENT, NET	166,580	172,179
OTHER ASSETS:
Goodwill	150,928	271,893
Intangibles, net	368,519	385,542
Deferred income taxes	42,706	30,852
Other assets	32,337	35,360
TOTAL ASSETS	1,309,077	1,470,945
CURRENT LIABILITIES:
Accounts payable	76,298	79,399
Accrued expenses and other current liabilities	103,917	94,169
Accrued compensation and benefits	25,601	19,518
Liabilities held for sale	26,617	43,289
Total Current Liabilities	232,433	236,375
LONG-TERM DEBT	588,958	636,297
DEFERRED INCOME TAXES	19,175	21,425
PENSION LIABILITY, NET	137,779	146,801
OTHER NON-CURRENT LIABILITIES	39,887	38,636
SHAREHOLDERS’ EQUITY:
Preferred stock, $0.01 par value; 1,000,000 shares authorized; no shares issued and outstanding	0	0
Common stock, $0.01 par value; 29,000,000 shares authorized; 19,956,518 and 19,912,362 shares issued and outstanding at March 29, 2020 and December 31, 2019, respectively	213	213
Additional paid-in capital	447,867	446,657
Retained earnings	20,110	99,280
Common treasury stock, at cost (1,372,488 shares at March 29, 2020 and December 31, 2019)	(74,472)	(74,472)
Accumulated other comprehensive loss, net of tax	(102,873)	(80,267)
Total Shareholders’ Equity	290,845	391,411
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY	$ 1,309,077	$ 1,470,945

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Mar. 29, 2020	Dec. 31, 2019
Trade accounts receivable, allowance for doubtful accounts	$ 9,017	$ 3,086
Preferred stock, par value	$ 0.01	$ 0.01
Preferred Stock, Shares Authorized	1,000,000	1,000,000
Preferred Stock, Shares Issued	0	0
Preferred Stock, Shares Outstanding	0	0
Common stock, par value	$ 0.01	$ 0.01
Common Stock, Shares Authorized	29,000,000	29,000,000
Common Stock, Shares, Issued	19,953,599	19,845,205
Common Stock, Shares, Outstanding	19,953,599	19,845,205

Consolidated Statements Of Inco

Consolidated Statements Of Income - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 29, 2020	Mar. 31, 2019
Net revenues	$ 192,213	$ 238,855
Cost of revenues	132,170	164,441
Gross profit	60,043	74,414
Selling, general and administrative expenses	59,558	64,506
Restructuring and Related Cost, Incurred Cost	(42,292)	(7,842)
Operating (loss) income	(73,405)	17,750
Other expense (income):
Other income, net	(2,680)	(2,148)
Total other expense, net	6,331	10,946
(Loss) income from continuing operations before income taxes	(79,736)	6,804
Provision for income taxes	8,374	5,709
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest	(88,110)	1,095
Discontinued Operation, Income (Loss) from Discontinued Operation, before Income Tax	9,162	(5,728)
Net loss	$ (78,948)	$ (4,633)
Basic earnings (loss) per common share:
Basic (loss) income per common share:	$ (3.96)	$ (0.23)
Discontinued Operation, Income (Loss) from Discontinued Operation, Net of Tax, Per Basic Share	0.46	(0.29)
Income (Loss) from Continuing Operations, Per Basic Share	(4.42)	0.06
Diluted from continuing operations	(3.96)	(0.23)
Discontinued Operation, Income (Loss) from Discontinued Operation, Net of Tax, Per Diluted Share	0.46	(0.29)
Income (Loss) from Continuing Operations, Per Diluted Share	$ (4.42)	$ 0.05
Weighted average number of common shares outstanding:
Basic	19,935	19,870
Diluted	19,935	19,976
Retained Earnings [Member]
Other expense (income):
Net loss	$ (78,948)	$ (4,633)

Statements Of Consolidated Comp

Statements Of Consolidated Comprehensive Income - USD ($) $ in Thousands	3 Months Ended
	Mar. 29, 2020	Mar. 31, 2019
Statement of Comprehensive Income [Abstract]
Net loss	$ (78,948)	$ (4,633)
Other comprehensive loss, net of tax:
Foreign currency translation adjustments	(20,325)	(8,840)
Interest rate swap adjustments (1)	(2,320)	(2,134)
Other comprehensive loss, net of tax	(22,606)	(10,974)
COMPREHENSIVE INCOME (LOSS)	$ (101,554)	$ (15,607)

Consolidated Statements Of Cash

Consolidated Statements Of Cash Flows - USD ($) $ in Thousands	3 Months Ended
	Mar. 29, 2020	Mar. 31, 2019
OPERATING ACTIVITIES
Net loss	$ (78,948)	$ (4,633)
Income (Loss) from Discontinued Operations, Net of Tax, Including Portion Attributable to Noncontrolling Interest	9,162	(5,728)
Income (Loss) from Continuing Operations, Net of Tax, Attributable to Parent	(88,110)	1,095
Adjustments to reconcile net (loss) income to net cash provided by operating activities:
Depreciation	5,121	5,500
Amortization	10,611	12,807
Provision for bad debt expense	5,802	(106)
Loss on write down of inventory	343	487
Compensation expense for share-based plans	608	1,372
Amortization of debt issuance costs	4,513	1,010
Loss on sale or write-down of property, plant and equipment	0	123
Gain (Loss) on Disposition of Business	54,356	10,282
Changes in operating assets and liabilities, net of effects of acquisition and disposition:
Trade accounts receivable	(1,550)	(1,697)
Inventories	(13,365)	(4,146)
Prepaid expenses and other assets	(5,507)	8,436
Accounts payable, accrued expenses and other liabilities	1,081	(43,676)
Net Cash Provided by (Used in) Continuing Operations	(18,627)	(29,077)
Net Cash Provided by (Used in) Discontinued Operations	(5,320)	6,699
Net cash provided by operating activities	(23,947)	(22,378)
INVESTING ACTIVITIES
Additions to property, plant and equipment	(3,412)	(3,292)
Proceeds from the sale of property, plant and equipment	0	28
Net Cash Provided by (Used in) Investing Activities, Continuing Operations	166,960	80,057
Cash Provided by (Used in) Investing Activities, Discontinued Operations	68	(425)
Net cash provided by investing activities	167,028	79,632
FINANCING ACTIVITIES
Proceeds from long-term debt	129,325	87,400
Payments of long-term debt	(180,891)	(140,500)
Debt issuance costs	300
Proceeds from the exercise of stock options	118	0
Net Cash Provided by (Used in) Financing Activities, Continuing Operations	(51,448)	(53,100)
Net cash used in financing activities	(51,448)	(53,100)
Effect of exchange rate changes on cash, cash equivalents and restricted cash	(5,389)	957
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect	86,244	5,111
Cash, cash equivalents, and restricted cash at beginning of period	85,727	69,525
Cash, cash equivalents, and restricted cash at end of period	171,971	74,636
Non-cash investing activities:
Purchases of property and equipment included in accounts payable and accrued expenses	870	1,018
Proceeds from Divestiture of Businesses	169,773	83,321
Payments to Acquire Businesses, Net of Cash Acquired	$ (599)	$ 0

Condensed Consolidated Statemen

Condensed Consolidated Statements of Shareholder's Equity - USD ($) $ in Thousands	Total	Common Stock	Additional Paid-in Capital	Retained Earnings	Accumulated Other Comprehensive (Loss) Income	Pension, net	Treasury Stock
Cumulative Effect on Retained Earnings, Net of Tax	$ 1,113
BALANCE, Shares at December 31, 2018 at Dec. 31, 2018		19,845,000
BALANCE at December 31, 2018 at Dec. 31, 2018	528,993	$ 212	$ 440,890	$ 232,102	$ (69,739)		$ (74,472)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss	(4,633)			(4,633)
Interest rate swap adjustments (1)	(2,134)
New Accounting Pronouncement or Change in Accounting Principle, Effect of Adoption, Quantification	(10,974)				(10,974)
Overstated (understated) comprehensive income	(10,974)
Conversion of restricted stock units (shares)		31,000
Conversion of restricted stock units	246		246
Share-based plan compensation	1,432		1,432
BALANCE, Shares at March 31, 2019 at Mar. 31, 2019		19,876,000
BALANCE at March 31, 2019 at Mar. 31, 2019	516,177	$ 212	442,568	228,582	(80,713)		(74,472)
Cumulative Effect on Retained Earnings, Net of Tax	$ (222)
BALANCE, Shares at December 31, 2018 at Dec. 31, 2019	19,845,205	19,912,000
BALANCE at December 31, 2018 at Dec. 31, 2019	$ 391,411	$ 213	446,657	99,280	(80,267)		(74,472)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss	(78,948)			(78,948)
Other comprehensive loss	(22,606)				(22,606)
Interest rate swap adjustments (1)	(2,320)
Overstated (understated) comprehensive income	(22,606)					$ 39
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period		3,000
Stock Issued During Period, Value, Stock Options Exercised	117		117
Conversion of restricted stock units (shares)		41,000
Conversion of restricted stock units	420		420
Share-based plan compensation	$ 673		673
BALANCE, Shares at March 31, 2019 at Mar. 29, 2020	19,953,599	19,956,000
BALANCE at March 31, 2019 at Mar. 29, 2020	$ 290,845	$ 213	$ 447,867	$ 20,110	$ (102,873)		$ (74,472)

Basis Of Presentation

Basis Of Presentation	3 Months Ended
	Mar. 29, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis Of Presentation	Basis of Presentation The accompanying unaudited condensed consolidated financial statements of CIRCOR International, Inc. ("CIRCOR", the "Company", "us", "we" or "our") have been prepared according to the rules and regulations of the United States ("U.S.") Securities and Exchange Commission (“SEC”) for interim reporting, along with accounting principles generally accepted in the U.S ("GAAP"). In the opinion of management, the unaudited, condensed consolidated financial statements reflect all adjustments (consisting only of normal and recurring items) necessary for a fair statement of the Company’s results of operations, financial position and cash flows for the periods presented. We prepare our interim financial information using the same accounting principles we use for our annual audited consolidated financial statements. Certain information and note disclosures normally included in the annual audited consolidated financial statements have been condensed or omitted in accordance with SEC rules. We believe that the disclosures made in our condensed consolidated financial statements and the accompanying notes are adequate to make the information presented not misleading. The condensed consolidated balance sheet as of December 31, 2019 was derived from our audited consolidated financial statements as of that date but does not contain all of the footnote disclosures from the annual financial statements. We recommend that the financial statements included in our Quarterly Report on Form 10-Q be read in conjunction with the consolidated financial statements and notes included in our Annual Report on Form 10-K for the year ended December 31, 2019 . We operate and report financial information using a fiscal year ending December 31. The data periods contained within our Quarterly Reports on Form 10-Q reflect the results of operations for the 13-week, 26-week and 39-week periods which generally end on the Sunday nearest the calendar quarter-end date. Operating results for the three months ended March 29, 2020 are not necessarily indicative of the results that may be expected for the year ending December 31, 2020 or any future quarter. We have reclassified certain prior year amounts, including the results of discontinued operations and reportable segment information, to conform to the current year presentation. Unless otherwise indicated, all financial information and statistical data included in these notes to our condensed consolidated financial statements relate to our continuing operations, with dollar amounts expressed in thousands (except per-share data). COVID-19 In March 2020, the World Health Organization declared the outbreak of COVID-19, which continues to spread throughout the U.S. and the world, as a pandemic. The outbreak is having an impact on the global economy, resulting in rapidly changing market and economic conditions. As of March 29, 2020 and through the date of this filing, the Company experienced a significant decline in its market capitalization below its consolidated book value . As a result, management concluded that there was a goodwill and an intangible asset impairment triggering event for the Company in the first quarter of 2020. Through its impairment analysis, the Company determined that goodwill in its Industrial segment was impaired and recognized a $116.2 million impairment. See Note 7, Goodwill and Intangible Assets, for additional information on the goodwill impairment.

Summary Of Significant Accounti

Summary Of Significant Accounting Policies	3 Months Ended
	Mar. 29, 2020
Accounting Policies [Abstract]
Summary Of Significant Accounting Policies	Summary of Significant Accounting Policies The significant accounting policies used in preparation of these condensed consolidated financial statements for the three months ended March 29, 2020 are consistent with those discussed in Note 2 to the consolidated financial statements in our Annual Report on Form 10-K for the year ended December 31, 2019 , except as updated below with respect to newly adopted accounting standards. The preparation of these financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in the condensed consolidated financial statements and accompanying disclosures. Some of the more significant estimates, which are impacted by management's estimates and assumptions regarding the effects of COVID-19, relate to recoverability of goodwill and indefinite-lived trade names, estimated total costs for ongoing long-term contracts accounted for as performance obligations where transfer of control occurs over time, inventory valuation, share-based compensation, amortization and impairment of long-lived assets, income taxes, penalty accruals for late shipments, other asset valuations, and product warranties. While management believes that the estimates and assumptions used in the preparation of the financial statements are appropriate, actual future results as estimated in the current period could differ materially from those estimates. New Accounting Standards In June 2016, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") 2016-13, Financial Instruments - Credit Losses (ASC 326): Measurement of Credit Losses on Financial Instruments . The new guidance, referred to as the current expected credit loss (“CECL”) model, requires the measurement of expected credit losses for financial assets (e.g., accounts receivable) held at the reporting date based on historical experience, current economic conditions, and reasonable and supportable forecasts which generally result in the more timely recognition of losses. The adoption of this new guidance on January 1, 2020 did not have a material impact on our condensed consolidated financial statements.

Discontinued Operations

Discontinued Operations	3 Months Ended
	Mar. 29, 2020
Discontinued Operations and Disposal Groups [Abstract]
Discontinued Operations	Discontinued Operations and Assets Held for Sale Discontinued Operations During the quarter ended September 29, 2019 , the Company completed the disposition of its long-cycle upstream oil & gas Engineered Valves ("EV") business and received approval from its Board of Directors to dispose of the Company’s Distributed Valves ("DV") business in a transaction or transfer to a third-party purchaser or purchasers. The Company is actively marketing the DV business for sale and anticipates completing the disposition within the twelve month window from when the business was first classified as held for sale. The business continued to meet the criteria to be classified as held for sale as of March 29, 2020. These actions were consistent with the Company's strategic shift away from upstream oil and gas to focus on more attractive end markets. The EV and DV businesses meet the criteria of discontinued operations and are presented as such in the condensed consolidated financial statements for all periods presented. The following table presents the summarized components of loss from discontinued operations for the DV business for the three months ended March 29, 2020 and March 31, 2019 , and for the EV business for the three months ended March 31, 2019 (in thousands): Three Months Ended March 29, 2020 March 31, 2019 Net revenues $ 6,237 $ 31,540 Cost of revenues 11,358 32,085 Gross loss (5,121 ) (545 ) Selling, general and administrative expenses 3,139 5,466 Special and restructuring (recoveries) charges, net (1,328 ) 26 Operating loss (6,932 ) (6,037 ) Other (income) expense: Interest (income) expense, net (7 ) 86 Other expense, net 5,410 235 Total other expense, net 5,403 321 Loss from discontinued operations, pre tax (12,335 ) (6,358 ) Benefit from income tax (21,497 ) (630 ) Income (loss) from discontinued operations, net of tax $ 9,162 $ (5,728 ) Assets Held for Sale During the quarter ended March 29, 2020 , the Company completed the sale of its non-core Instrumentation and Sampling ("I&S") business. See Note 5, Special and Restructuring Recoveries, net for additional information on this divestiture. As of December 31, 2019 , the I&S business is reported as "held for sale" within the current assets and current liabilities section of our condensed consolidated balance sheet. The following table presents the balance sheet information for assets and liabilities held for sale as of March 29, 2020 and December 31, 2019 by business (in thousands): March 29, 2020 December 31, 2019 DV DV I&S Total Trade accounts receivable, net $ 1,434 $ 467 $ 9,935 $ 10,402 Inventories 46,353 55,521 13,878 69,399 Prepaid expenses and other current assets 2,382 2,867 616 3,483 Property, plant, and equipment, net 5,824 6,742 6,409 13,151 Goodwill — — 91,492 91,492 Deferred tax asset 606 778 1,089 1,867 Other assets 6,980 4,793 6,363 11,156 Valuation adjustment on classification to assets held for sale (36,962 ) (39,757 ) — (39,757 ) Total assets held for sale $ 26,617 $ 31,411 $ 129,782 $ 161,193 Accounts payable $ 8,314 $ 8,708 $ 5,997 $ 14,705 Accrued and other current liabilities 5,095 5,834 2,192 8,026 Deferred income taxes 228 638 151 789 Other liabilities 12,980 13,931 5,838 19,769 Total liabilities held for sale $ 26,617 $ 29,111 $ 14,178 $ 43,289

Revenue Recognition (Notes)

Revenue Recognition (Notes)	3 Months Ended
	Mar. 29, 2020
Revenue from Contract with Customer [Abstract]
Revenue Recognition	Revenue Recognition Our revenue is derived from a variety of contracts. A significant portion of our revenues are from contracts associated with the design, development, manufacture or modification of highly engineered, complex and severe environment products with customers who are either in or service the aerospace, defense and industrial markets. Our contracts within the defense markets are primarily with U.S. military customers. These contracts typically are subject to the Federal Acquisition Regulations (FAR). We account for a contract when it has approval and commitment from both parties, the rights of the parties are identified, payment terms are identified, the contract has commercial substance and collectability of consideration is probable. Contracts may be modified to account for changes in contract specifications and requirements. Contract modifications exist when the modification either creates new, or changes the existing, enforceable rights and obligations. Contract modifications for goods or services that are not distinct from the existing contract are accounted for as if they were part of that existing contract. Revenue is recognized from products and services transferred to customers over-time using an input measure (e.g., costs incurred to date relative to total estimated costs at completion, known as the “cost-to-cost” method) to measure progress. We generally use the cost-to-cost measure of progress for our contracts because it best depicts the transfer of control to the customer which occurs as we incur costs on our contracts. Under the cost-to-cost measure of progress, revenues are recorded proportionally as costs are incurred. Contract costs include labor, materials and subcontractors’ costs, other direct costs and an allocation of overhead, as appropriate. As of March 29, 2020 , we had $421.2 million of revenue related to remaining unfulfilled performance obligations. We expect to recognize approximately 74.0% of our remaining performance obligations as revenue during the remainder of 2020, 19.0% in 2021, and the remaining 7.0% thereafter. In order to determine revenue recognized in the period from contract liabilities, we first allocate revenue to the individual contract liabilities balances outstanding at the beginning of the period until the revenue exceeds that balance. If additional advances are received on those contracts in subsequent periods, we assume all revenue recognized in the reporting period first applies to the beginning contract liabilities as opposed to a portion applying to the new advances for the period. The impact of adjustments in contract estimates on our operating earnings can be reflected in either operating expenses or revenue. There have been no significant changes in estimates in the three months ended March 29, 2020 . Disaggregation of Revenue. The following tables present our revenue disaggregated by major product line and geographical market (in thousands): Three Months Ended March 29, 2020 March 31, 2019 Aerospace & Defense Segment Commercial Aerospace & Other $ 26,320 $ 28,706 Defense 39,173 32,534 Total 65,493 61,240 Industrial Segment Valves 54,190 92,303 Pumps 72,530 85,312 Total 126,720 177,615 Net Revenue $ 192,213 $ 238,855 Three Months Ended March 29, 2020 March 31, 2019 Aerospace & Defense Segment EMEA $ 14,806 $ 17,732 North America 45,988 37,393 Other 4,699 6,115 Total 65,493 61,240 Industrial Segment EMEA 57,006 75,743 North America 43,922 73,847 Other 25,792 28,025 Total 126,720 177,615 Net Revenue $ 192,213 $ 238,855 Contract Balances. The following table presents contract assets and contract liabilities balances as of March 29, 2020 and December 31, 2019 as follows (in thousands): March 29, 2020 December 31, 2019 Increase/(Decrease) Trade accounts receivables, net $ 116,514 $ 125,422 $ (8,908 ) Contract assets (1) 63,826 52,781 11,045 Contract liabilities (2) 39,850 35,007 4,843 (1) Recorded within prepaid expenses and other current assets. (2) Recorded within accrued expenses and other current liabilities. Trade accounts receivable, net decreased by $8.9 million as of March 29, 2020 , primarily due to the timing of cash collections during the three months ended March 29, 2020 . Contract assets increased by $11.0 million, or 20.9% , to $63.8 million primarily driven by unbilled revenue recognized during the three months ended March 29, 2020 within our Defense business (+11%) and Refinery Valves business (+7%). Contract liabilities increased by $ 4.8 million , or 13.8% , to $ 39.8 million as of March 29, 2020 , primarily driven by timing of revenue recognized over time during the three months ended March 29, 2020 . The increase was driven by our Defense business (+11%) and our EMEA Pumps business (+3%).

Special Charges_Recoveries

Special Charges/Recoveries	3 Months Ended
	Mar. 29, 2020
Restructuring and Related Activities [Abstract]
Special Charges/Recoveries	Special and Restructuring Recoveries, net Special and restructuring recoveries, net Special and restructuring recoveries, net consist of restructuring costs (including costs to exit a product line or program) as well as certain special charges such as significant litigation settlements and other transactions (charges or recoveries) that are described below. All items described below are recorded in Special and restructuring recoveries, net on our condensed consolidated statements of (loss) income. Certain other special and restructuring charges such as inventory related items may be recorded in cost of revenues given the nature of the item. The table below summarizes the amounts recorded within the special and restructuring recoveries, net line item on the condensed consolidated statements of (loss) income for the three months ended March 29, 2020 and March 31, 2019 (in thousands): Special & restructuring (recoveries) charges, net Three Months Ended March 29, 2020 March 31, 2019 Special recoveries, net $ (45,175 ) $ (8,200 ) Restructuring charges, net 2,883 358 Total special and restructuring recoveries, net $ (42,292 ) $ (7,842 ) Special recoveries, net The table below details the special recoveries, net recorded for the three months ended March 29, 2020 (in thousands): Special & restructuring (recoveries) charges, net Three Months Ended Aerospace & Defense Industrial Corporate Total I&S divestiture $ — $ (53,202 ) $ — $ (53,202 ) Professional fees to review and respond to an unsolicited tender offer to acquire the Company — — 2,355 2,355 Amortization of debt issuance fee — — 3,541 3,541 Other special charges — 101 2,030 2,131 Total special (recoveries) charges, net $ — $ (53,101 ) $ 7,926 $ (45,175 ) I&S divestiture: The Company recorded net special recoveries of $ (53.2) million for the three months ended March 29, 2020, attributed to the sale of our I&S business in January 2020. During the quarter ended March 29, 2020, we received net cash proceeds of $169.8 million and recognized a gain on sale of $ 54.6 million. The Industrial segment incurred $ 1.4 million of operating expenses associated with the I&S business for the three months ended March 29, 2020, which are presented net within the I&S divestiture line. Professional fees: The Company incurred special charges of $ 2.4 million for the three months ended March 29, 2020, associated with the review and response to an unsolicited tender offer to acquire the Company and related corporate governance actions. Amortization of debt issuance fee: The Company incurred special charges of $ 3.5 million for the three months ended March 29, 2020 comprised of $ 3.2 million related to accelerated amortization of capitalized debt issuance costs, and $ 0.3 million related to the significant debt pay down from the sale of the I&S business. See Note 9, Financing Arrangements, for additional information on our debt repricing. Other special charges: The Company incurred special charges of $ 2.1 million for the three months ended March 29, 2020, associated with professional fees for projects to streamline operations and reduce costs ($ 1.2 million), costs of a cyber incident ($ 0.7 million) and charges related to previous business sales ($ 0.2 million). The table below details the special recoveries, net recorded for the three months ended March 31, 2019 (in thousands): Special (recoveries) charges, net For the three months ended March 29, 2019 Aerospace & Defense Industrial Corporate Total Reliability Services divestiture $ — $ (10,282 ) $ — $ (10,282 ) Reliability Services 2019 operating expenses — 1,450 — 1,450 Rosscor divestiture related charges — 153 — 153 Trapped cost — — 479 479 Total special (recoveries) charges, net $ — $ (8,679 ) $ 479 $ (8,200 ) Reliability Services divestiture: In January 2019, the Company sold its Reliability Services business. The Company recorded a 10.3 million gain during the first quarter of 2019 in connection with the divestiture. Reliability Services 2019 operating expenses: The Company classified the 2019 operating expenses of the Reliability Services business as special given the business was held for sale as of 2018 and was sold in January 2019. Rosscor divestiture: In November, 2018, the Company sold its Rosscor B.V. and SES International B.V. subsidiaries (the “Delden Business”) for a nominal amount. The Delden Business was the Company's Netherlands-based fluid handling skids and systems business, primarily for the oil and gas end market. During the first quarter of 2019, the Company recorded a $ 0.2 million charge related to the divestiture. Trapped cost: With the separation of discontinued operations, there is an element of trapped cost from corporate allocations that have been reclassified to corporate. Restructuring charges, net The tables below outline the charges associated with restructuring actions recorded for the three months ended March 29, 2020 and March 31, 2019 (in thousands). A description of the restructuring actions is provided in the section titled "Restructuring Programs Summary" below. Restructuring charges, net As of and for the three months ended March 29, 2020 Aerospace & Defense Industrial Corporate Total Facility related expenses $ 10 $ 1,632 $ — $ 1,642 Employee related expenses, net — 1,058 183 1,241 Total restructuring charges, net $ 10 $ 2,690 $ 183 $ 2,883 Accrued restructuring charges as of December 31, 2019 $ 5,199 Total quarter to date charges, net (shown above) 2,883 Charges paid / settled, net (4,154 ) Accrued restructuring charges as of March 29, 2020 $ 3,928 We expect to make payment or settle the majority of the restructuring charges accrued as of March 29, 2020 during the second and third quarters of 2020. Restructuring charges, net As of and for the three months ended March 31, 2019 Aerospace & Defense Industrial Corporate Total Facility related expenses $ 70 $ — $ — $ 70 Employee related expenses (2 ) 290 — 288 Total restructuring charges, net $ 68 $ 290 $ — $ 358 Accrued restructuring charges as of December 31, 2018 $ 874 Total quarter to date charges, net (shown above) 358 Charges paid / settled, net (571 ) Accrued restructuring charges as of March 31, 2019 $ 661 Restructuring Programs Summary During the quarter ended March 29, 2020, we recorded $2.8 million of restructuring charges, principally within our Industrial segment, to reduce expenses primarily through reductions in force and to close a sales location to consolidate operations. During the quarter ended March 31, 2019, we recorded $0.4 million of restructuring charges related to the program we initiated during 2018.

Inventories

Inventories	3 Months Ended
	Mar. 29, 2020
Inventory, Net [Abstract]
Inventories	Inventories Inventories consisted of the following (in thousands): March 29, 2020 December 31, 2019 Raw materials $ 73,047 $ 65,315 Work in process 51,548 53,891 Finished goods 22,580 18,103 Total inventories $ 147,175 $ 137,309

Goodwill And Intangible Assets

Goodwill And Intangible Assets	3 Months Ended
	Mar. 29, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill And Intangible Assets	Goodwill and Intangibles, net The following table shows goodwill by segment as of December 31, 2019 and March 29, 2020 (in thousands): Aerospace & Defense Industrial Total Goodwill as of December 31, 2019 $ 57,385 $ 214,508 $ 271,893 Impairment — (116,182 ) (116,182 ) Currency translation adjustments (43 ) (4,740 ) (4,783 ) Goodwill as of March 29, 2020 $ 57,342 $ 93,586 $ 150,928 We perform an impairment assessment for goodwill at the reporting unit level on an annual basis as of the end of our October month end or more frequently if circumstances warrant. At March 29, 2020, the Company reorganized its reporting units (see Note 8, Segment Information) and had its stock price drop below book value, which the Company determined were triggering events requiring an assessment of its goodwill and indefinite-lived trade names. Our asset groups did not experience a triggering event, and our long-lived assets did not suffer a decline in utility requiring a reassessment of their useful lives. Through its assessment, management determined that its long-lived assets other than goodwill were not impaired. For the assessment of goodwill as of March 29, 2020, we estimated the fair value of our two reporting units, Industrial and Aerospace & Defense, using an income approach based on the present value of future cash flows. We also utilized the implied market value method under the market approach to validate the fair value amount we obtained using a discounted cash flow model income approach which indicated a control premium. Management believes this approach was the best approximation of fair value of its reporting units in the current economic environment considering the uncertainty caused by the COVID-19 pandemic. The key assumptions utilized in our discounted cash flow model include our estimates of the rate of revenue growth, including the rate of growth used in terminal year value, the assumption of a control premium, and the discount rate based on a weighted average cost of capital. The relevant inputs, estimates and assumptions used in the implied market value method include our market capitalization as of March 29, 2020, and selection of a control premium. Based on our impairment assessment as of March 29, 2020, we have concluded that our goodwill in the Industrial reporting unit has been impaired and, accordingly, have recorded a goodwill impairment charge of $ 116.2 million. The table below presents gross intangible assets and the related accumulated amortization as of March 29, 2020 (in thousands): Gross Carrying Amount Accumulated Amortization Net Carrying Value Patents $ 5,368 $ (5,368 ) $ — Customer relationships 293,607 (87,017 ) 206,590 Backlog 22,181 (20,497 ) 1,684 Acquired technology 132,786 (46,717 ) 86,069 Other 336 (336 ) — Total Amortized Assets $ 454,278 $ (159,935 ) $ 294,343 Non-amortized intangibles (primarily trademarks and trade names) $ 74,176 $ 74,176 Total Non-Amortized Intangibles $ 74,176 $ 74,176 Net carrying value of intangible assets $ 368,519 The table below presents estimated remaining amortization expense for intangible assets recorded as of March 29, 2020 (in thousands): 2020 2021 2022 2023 2024 After 2024 Estimated amortization expense $ 32,170 $ 40,672 $ 35,737 $ 31,335 $ 27,538 $ 126,891

Segment Information

Segment Information	3 Months Ended
	Mar. 29, 2020
Segment Reporting [Abstract]
Segment Information	Segment Information Our Chief Operating Decision Maker evaluates segment operating performance using segment operating income. Segment operating income is defined as GAAP operating income excluding intangible amortization and amortization of fair value step-ups of inventory and fixed assets from acquisitions completed subsequent to December 31, 2011, the impact of restructuring related inventory write-offs, impairment charges and special charges or gains. The Company also refers to this measure as adjusted operating income. The Company uses this measure because it helps management understand and evaluate the segments’ core operating results and serves as the basis for determining incentive compensation achievement. During the quarter ended March 29, 2020 , we divested our I&S business, which was previously part of the Energy segment. See Note 5, Special and Restructuring Recoveries, net for additional information on this divestiture. In light of this divestiture, effective March 29, 2020 , we realigned our segments by eliminating the Energy segment and moving the remaining businesses into the Industrial segment. The new reporting segments are Industrial and Aerospace & Defense. The current and prior periods are reported under this new segment structure. The following table presents certain reportable segment information (in thousands): Three Months Ended March 29, 2020 March 31, 2019 Net revenues Aerospace & Defense $ 65,493 $ 61,240 Industrial 126,720 177,615 Consolidated net revenues $ 192,213 $ 238,855 Results from continuing operations before income taxes Aerospace & Defense - Segment Operating Income $ 12,494 $ 9,374 Industrial - Segment Operating Income 5,169 22,581 Corporate expenses (6,588 ) (8,522 ) Segment Operating Income 11,075 23,433 Impairment charge 116,182 — Restructuring charges, net 2,883 358 Special recoveries, net (45,175 ) (8,200 ) Special and restructuring recoveries, net (42,292 ) (7,842 ) Restructuring related inventory charges (602 ) 325 Acquisition amortization 10,218 12,077 Acquisition depreciation 974 1,123 Acquisition amortization and other costs, net 10,590 13,525 Consolidated operating (loss) income (73,405 ) 17,750 Interest expense, net 9,011 13,094 Other income, net (2,680 ) (2,148 ) (Loss) income from continuing operations before income taxes $ (79,736 ) $ 6,804 Three Months Ended March 29, 2020 March 31, 2019 Capital expenditures Aerospace & Defense $ 640 $ 788 Industrial 2,225 1,676 Corporate 198 387 Consolidated capital expenditures $ 3,063 $ 2,851 Depreciation and amortization Aerospace & Defense $ 3,093 $ 2,673 Industrial 12,419 15,199 Corporate 125 164 Consolidated depreciation and amortization $ 15,637 $ 18,036 Identifiable assets March 29, 2020 March 31, 2019 Aerospace & Defense $ 463,744 $ 406,064 Industrial 1,650,963 2,288,645 Corporate (805,630 ) (975,375 ) Consolidated identifiable assets $ 1,309,077 $ 1,719,334 The total assets for each reportable segment have been reported as the Identifiable Assets for that segment, including inter-segment intercompany receivables, payables and investments in other CIRCOR companies. Identifiable assets reported in Corporate include both corporate assets, such as cash, deferred taxes, prepaid and other assets, fixed assets, as well as the elimination of all inter-segment intercompany assets. The elimination of intercompany assets results in negative amounts reported in Corporate for Identifiable Assets. Corporate Identifiable Assets excluding intercompany assets were $87.7 million and $27.8 million as of March 29, 2020 and March 31, 2019 , respectively.

Financing Arrangements

Financing Arrangements	3 Months Ended
	Mar. 29, 2020
Fair Value Disclosures [Abstract]
Financing Arrangements	Fair Value The company utilizes fair value measurement guidance prescribed by accounting standards to value its financial instruments. The guidance establishes a fair value hierarchy based on the inputs used to measure fair value. This hierarchy prioritizes the inputs into three broad levels as follows: • Level One : Inputs to the valuation methodology are unadjusted quoted prices for identical assets or liabilities in active markets. • Level Two : Inputs to the valuation methodology include quoted prices for similar assets and liabilities in active markets, quoted prices for identical or similar assets or liabilities in inactive markets, and inputs that are observable for the asset or liability, either directly or indirectly, for substantially the full term of the financial instrument. • Level Three : Inputs to the valuation methodology are unobservable and significant to the fair value measurement. A financial instrument’s level within the fair value hierarchy is based on the lowest level of any input that is significant to the fair value measurement. The aggregate fair value of the Company's interest rate swap and cross-currency swap as of March 29, 2020 are summarized in the table below (in thousands): Significant Other Observable Inputs Level 2 Derivative asset $ 3,768 Derivative liabilities $ 12,310 The carrying amounts of cash and cash equivalents, trade receivables and trade payables approximate fair value because of the short maturity of these financial instruments. Cash equivalents are carried at cost which approximates fair value at the balance sheet date and is a Level 1 financial instrument. As of March 29, 2020 , the fair value of our gross debt (before netting debt issuance costs) was $496.1 million , or $131.8 million below our carrying cost of $602.3 million , and is a Level 2 financial instrument. Financial Instruments As of March 29, 2020 and December 31, 2019, the Company had restricted cash balances of $1.1 million and $1.2 million, respectively. These balances are recorded within prepaid and other current assets on the condensed consolidated balance sheets, and are included within cash, cash equivalents and restricted cash in the condensed consolidated statements of cash flows. The Company has a receivables purchasing agreement with a bank whereby the Company can sell selected account receivables and receive between 90% and 100% of the purchase price upfront, net of applicable discount fee, and the residual amount as the receivables are collected. During the quarter, the Company sold a total of $14.5 million in receivables under the program, receiving $13.6 million in cash. The outstanding purchase price component of $0.8 million was recorded in prepaid expenses and other current assets on the condensed consolidated balance sheet at March 29, 2020 . The Company has a cross-currency swap agreement to hedge its net investment in non-U.S. subsidiaries against future volatility in exchange rates between the U.S. dollar and the Euro. The cross-currency swap agreement is pursuant to an International Swaps and Derivatives Association ("ISDA") Master Agreement with Deutsche Bank AG. The three-year cross-currency swap has a fixed notional value of $100.0 million at an annual rate of 2.4% and a maturity date of July 12, 2022. At inception, the cross-currency swap was designated as a net investment hedge. This hedging agreement mitigates foreign currency exchange rate exposure and is not for speculative trading purposes. The net investment hedge was deemed effective as of quarter-end. The Company has an interest rate swap pursuant to an ISDA Master Agreement with Citizens Bank, National Association. The four-year interest rate swap has a fixed notional value of $400.0 million with a 1% LIBOR floor and a maturity date of April 12, 2022. The fixed rate of interest paid by the Company is comprised of our current credit spread of 350 basis points plus 2.6475% for a total interest rate of 6.1475% . The ISDA Master Agreement, together with its related schedules, contains customary representations, warranties and covenants. The Company has designated the interest rate swap as a qualifying hedging instrument and is treating it as a cash flow hedge for accounting purposes pursuant to ASC 815, Derivatives and Hedging . The aggregate net fair value of the interest rate swap and cross-currency swap was $ (8.5) million . These balances are recorded in other long-term liabilities of $6.0 million , accrued expenses and other current liabilities of $6.3 million , and other current assets of $3.8 million on our condensed consolidated balance sheet as of March 29, 2020. In addition, the Company recorded a long-term deferred tax asset of $2.8 million as of the same date. The amount of gain (loss) recognized in other comprehensive (loss) income ("OCI") and reclassified from accumulated other comprehensive (loss) income ("AOCI") to income are summarized below: Three Months Ended March 29, 2020 Amount of loss recognized in OCI $ (4,105 ) Amount of loss reclassified from AOCI into income $ (1,093 ) The realized loss of $1.1 million was reclassified from other comprehensive loss to interest expense and was accrued on the swap during the three months ended March 29, 2020 . Amounts expected to be reclassified from other comprehensive income into interest expense in the following 12 months is a loss of $6.2 million . Interest expense (including the effects of the cash flow hedges) related to the portion of the Company's term loan subject to the aforementioned interest-rate swap agreement was $6.0 million for the three months ended March 29, 2020 . Debt As of March 29, 2020 , total debt was $ 589.0 million compared to $ 636.3 million as of December 31, 2019. Total debt is net of unamortized term loan debt issuance costs of $ 13.3 million and $ 17.6 million at March 29, 2020 and December 31, 2019, respectively. The Company made interest payments of $ 8.8 million and $12.4 million during the three months ended March 29, 2020, and March 31, 2019, respectively. During the three months ended March 29, 2020, the Company paid down $ 161.8 million on its term loan from proceeds received through the sale of the I&S business. On March 20, 2020, the Company drew down $ 80.0 million on its line of credit due to concerns about possible disruptions to global capital markets stemming from COVID-19. During the three months ended March 29, 2020 the Company amended its term loan to lower the interest rate associated with the applicable margin calculation. The new terms lower the interest rate on the Company's term loan from LIBOR plus an applicable margin of 3.5% to LIBOR plus an applicable margin of 3.25% , based on its existing corporate family rating from Moody's. The applicable margin reduces to LIBOR plus an applicable margin of 3.00% , with a corporate family rating from Moody's of B1 or better. As part of the debt repricing, the Company's outstanding loan balance was reallocated amongst the lender group. The Company evaluated the changes in outstanding loan balance for each individual lender to determine the amount of capitalized debt issuance costs that required adjustment. Through this exercise, the Company amortized $ 3.2 million of debt issuance costs, which were recorded as special charges.

Guarantees And Indemnification

Guarantees And Indemnification Obligations	3 Months Ended
	Mar. 29, 2020
Guarantees And Indemnification Obligations [Abstract]
Guarantees And Indemnification Obligations	) Guarantees and Indemnification Obligations As permitted under Delaware law, we have agreements whereby we indemnify certain of our officers and directors for certain events or occurrences while the officer or director is, or was, serving at our request in such capacity. The term of the indemnification period is for the officer’s or director’s lifetime. The maximum potential amount of future payments we could be required to make under these indemnification agreements is unlimited. However, we have directors’ and officers’ liability insurance policies that insure us with respect to certain events covered under the policies and should enable us to recover a portion of any future amounts paid under the indemnification agreements. We have no liabilities recorded from those agreements as of March 29, 2020 . We record provisions for the estimated cost of product warranties, primarily from historical information, at the time product revenue is recognized. We also record provisions with respect to any significant individual warranty issues as they arise. While we engage in extensive product quality programs and processes, our warranty obligation is affected by product failure rates, utilization levels, material usage, service delivery costs incurred in correcting a product failure, and supplier warranties on parts delivered to us. Should actual product failure rates, utilization levels, material usage, service delivery costs or supplier warranties on parts differ from our estimates, revisions to the estimated warranty liability would be required. The following table sets forth information related to our product warranty reserves for the three months ended March 29, 2020 (in thousands): Balance beginning December 31, 2019 $ 1,642 Provisions 368 Claims settled (682 ) Currency translation adjustment (29 ) Balance ending March 29, 2020 $ 1,299 Warranty obligations were $1.6 million as of December 31, 2019 and $1.3 million as of March 29, 2020

Contingencies And Commitments

Contingencies And Commitments	3 Months Ended
	Mar. 29, 2020
Commitments and Contingencies Disclosure [Abstract]
Contingencies And Commitments	(11) Commitments and Contingencies We are subject to various legal proceedings and claims pertaining to matters such as product liability or contract disputes, including issues arising under certain customer contracts with aerospace and defense customers. We are also subject to other proceedings and governmental inquiries, inspections, audits or investigations pertaining to issues such as tax matters, patents and trademarks, pricing, business practices, governmental regulations, employment and other matters. Although the results of litigation and claims cannot be predicted with certainty, we expect that the ultimate disposition of these matters, to the extent not previously provided for, will not have a material adverse effect, individually or in the aggregate, on our business, financial condition, results of operations or liquidity. Asbestos-related product liability claims continue to be filed against two of our subsidiaries: Spence Engineering Company, Inc. (“Spence”), the stock of which we acquired in 1984; and CIRCOR Instrumentation Technologies, Inc. (f/k/a Hoke, Inc.) (“Hoke”), the stock of which we acquired in 1998. The Hoke subsidiary was divested in January 2020 through our sale of I&S. However, the Company has indemnified the buyer for asbestos-related claims that are made against Hoke. Due to the nature of the products supplied by these entities, the markets they serve and our historical experience in resolving these claims, we do not expect that these asbestos-related claims will have a material adverse effect on the financial condition, results of operations or liquidity of the Company. Standby Letters of Credit We execute standby letters of credit, which include bid bonds and performance bonds, in the normal course of business to ensure our performance or payments to third parties. The aggregate notional value of these instruments was $35.5 million at March 29, 2020 . We believe that the likelihood of demand for a significant payment relating to the outstanding instruments is remote. These instruments generally have expiration dates ranging from less than 1 month to 5 years from March 29, 2020 . The following table contains information related to standby letters of credit instruments outstanding as of March 29, 2020 (in thousands): Term Remaining Maximum Potential Future Payments 0–12 months $ 20,747 Greater than 12 months 14,707 Total $ 35,454

Retirement Plans

Retirement Plans	3 Months Ended
	Mar. 29, 2020
Retirement Benefits, Description [Abstract]
Retirement Plans	(12) Retirement Plans The following table sets forth the components of total net periodic benefit cost (income) of the Company’s defined benefit pension plans and other post-retirement employee benefit plans (in thousands): Three Months Ended March 29, 2020 March 31, 2019 Pension Benefits - U.S. Plans Interest cost $ 1,398 $ 1,967 Expected return on plan assets (2,747 ) (2,742 ) Amortization 43 129 Net periodic benefit income $ (1,306 ) $ (646 ) Pension Benefits - Non-U.S. Plans Service cost $ 692 $ 695 Interest cost 339 555 Expected return on plan assets (194 ) (247 ) Amortization 31 5 Net periodic benefit cost $ 868 $ 1,008 Other Post-Retirement Benefits Interest cost $ 66 $ 93 Net periodic benefit cost $ 66 $ 93 The periodic benefit service costs are included in the selling, general, and administrative costs, while the remaining net periodic benefit costs are included in other expense (income), net in our condensed consolidated statements of (loss) income for the three months ended March 29, 2020 and March 31, 2019 , respectively. There were no employer contributions to the Company's U.S. and non-U.S. based pension plans during the three months ended March 29, 2020 .

Income Taxes

Income Taxes	3 Months Ended
	Mar. 29, 2020
Income Tax Disclosure [Abstract]
Income Taxes	(13) Income Taxes As of March 29, 2020 and December 31, 2019, we had $0.9 million and $0.6 million , respectively, of unrecognized tax benefits, of which $0.8 million and $0.6 million , respectively, would affect our effective tax rate if recognized in any future period. The Company files income tax returns in U.S. federal, state and local jurisdictions and in foreign jurisdictions. The Company is no longer subject to examination by the Internal Revenue Service (the "IRS") for years prior to 2016 and is no longer subject to examination by the tax authorities in foreign and state jurisdictions prior to 2012, except for Germany which is under examination from 2006 to 2015. The Company is currently under examination for income tax filings in various foreign jurisdictions. The Company has a net U.S. deferred tax asset and a net foreign deferred tax liability. Due to uncertainties related to our ability to utilize certain U.S. and foreign deferred income tax assets, we maintained a valuation allowance of $14.3 million at March 29, 2020 and $ 14.3 million at December 31, 2019. The valuation allowance is based on estimates of income in each of the jurisdictions in which we operate and the period over which our deferred tax assets will be recoverable. If future results of operations exceed our current expectations, our existing tax valuation allowances may be adjusted, resulting in future tax benefits. Alternatively, if future results of operations are less than expected, future assessments may result in a determination that some or all of the deferred tax assets are not realizable. Consequently, we may need to establish additional tax valuation allowances for all or a portion of the deferred tax assets, which may have a material adverse effect on our business, results of operations and financial condition. On March 27, 2020, the United States enacted the Coronavirus Aid, Relief, and Economic Security (CARES) Act as a result of the Coronavirus pandemic, which contains among other things, numerous income tax provisions. Some of these tax provisions are expected to be effective retroactively for years ending before the date of enactment. The company has evaluated the current legislation and at this time, does not anticipate the CARES Act to have a material impact on its financial statements. During the three months ended March 29, 2020 and March 31, 2019, the Company paid income taxes of $ 1.5 million and $ 2.1 million, respectively.

Share-Based Compensation

Share-Based Compensation	3 Months Ended
	Mar. 29, 2020
Share-based Payment Arrangement, Noncash Expense [Abstract]
Share-Based Compensation	(14) Share-Based Compensation As of March 29, 2020 , the Company had 689,418 stock options and 826,349 Restricted Stock Unit Awards ("RSU Awards") and Restricted Stock Unit Management Stock Plan Awards ("RSU MSPs") outstanding. On May 9, 2019 , our shareholders approved the 2019 Stock Option and Incentive Plan (the "2019 Plan") at the Company's annual meeting which was adopted, subject to shareholder approval, by the Company's board of directors on February 20, 2019 . The 2019 Plan authorizes issuance of up to 1,000,000 shares of common stock (subject to adjustment for stock splits and similar events). Under the 2019 Plan, there were 413,507 shares available for grant as of March 29, 2020 . During the three months ended March 29, 2020 , there were no stock options granted compared with 153,726 stock options granted during the three months ended March 31, 2019 . The average fair value of stock options granted during the first three months of 2019 was $11.84 per share, estimated using the following weighted-average assumptions: March 31, 2019 Risk-free interest rate 2.6 % Expected life (years) 4.4 Expected stock volatility 38.1 % Expected dividend yield — % For additional information regarding the historical issuance of stock options, refer to Note 12 to the consolidated financial statements included in our Annual Report on Form 10-K for the year ended December 31, 2019 . During the three months ended March 29, 2020 and March 31, 2019 , we granted 552,010 and 154,903 RSU Awards with approximate fair values of $12.70 and $33.07 per RSU Award, respectively. During the first three months of 2020 and 2019 , we granted performance-based RSU Awards as part of the overall mix of RSU Awards. Of the 552,010 RSU Awards granted during the three months ended March 29, 2020 , 109,278 are performance-based RSU Awards. This compares to 26,475 performance-based RSU Awards granted during the three months ended March 31, 2019 . In 2020, these performance-based RSU Awards include metrics for achieving Adjusted Operating Margin and Adjusted Measurement Cash Flow with target payouts ranging from 0% to 200% . In 2019, the performance-based RSU Awards include metrics for achieving Adjusted Operating Margin and Adjusted Free Cash Flow with the same target payout ranges. Of the different performance-based RSU tranches, the Company anticipates approximately 95% overall achievement and probability to vest. There were no RSU MSPs granted during the three months ended March 29, 2020. RSU MSPs totaling 56,379 with per unit discount amounts representing a fair value of $11.10 per share were granted during the three months ended March 31, 2019 . Compensation expense related to our share-based plans for the three months ended March 29, 2020 and March 31, 2019 was $0.7 million and $1.4 million , respectively. The decrease in costs in the current period is primarily related to a delay in our annual grant as well as reduced achievement on certain performance-based awards. Compensation expense for the three months ended March 29, 2020 was recorded as follows: $0.6 million in selling, general and administrative expenses and $0.1 million in special charges related to the sale of our Instrumentation and Sampling business. The special charge amount related to the accelerated vesting of awards as a result of the transaction. Compensation expense for the three months ended March 31, 2019 was recorded in selling, general and administrative expenses. As of March 29, 2020 , there were $13.0 million of total unrecognized compensation costs related to our outstanding share-based compensation arrangements. That cost is expected to be recognized over a weighted average period of 2.0 years. The weighted average contractual term for stock options outstanding and options exercisable as of March 29, 2020 was 3.9 years and 3.5 years, respectively. The aggregate intrinsic values of stock options exercised, outstanding, and exercisable during the three months ended March 29, 2020 were insignificant. The aggregate intrinsic value of RSU Awards settled during the three months ended March 29, 2020 was $1.1 million and the aggregate intrinsic value of RSU Awards outstanding and RSU Awards vested and deferred as of March 29, 2020 was $9.0 million and $0.0 million , respectively. The aggregate intrinsic value of RSU MSPs settled during the three months ended March 29, 2020 was insignificant. The aggregate intrinsic value of RSU MSPs outstanding and RSU MSPs vested and deferred as of March 29, 2020 was insignificant. International participants are issued Cash Settled Stock Unit Awards. As of March 29, 2020 , there were 53,513 Cash Settled Stock Unit Awards outstanding compared to 45,681 as of December 31, 2019. During the three months ended March 29, 2020 , the aggregate cash used to settle Cash Settled Stock Unit Awards was $0.7 million . As of March 29, 2020 , we had $0.1 million of accrued expenses in other non-current liabilities associated with these Cash Settled Stock Unit Awards compared with $0.9 million as of December 31, 2019 . Cash Settled Stock Unit Award related compensation costs for the three months ended March 29, 2020 and March 31, 2019 were $ (0.1) million and $0.4 million , respectively. The decrease in cost is due primarily to the much lower stock price as of March 29, 2020. For the three months ended March 29, 2020 , $(0.2) million was recorded as selling, general, and administrative expenses and $0.1 million was recorded as special charges related to the sale of our Instrumentation and Sampling business. The special charge amount related to the accelerated vesting of awards as a result of the transaction. For the three months ended March 31, 2019 , compensation costs for Cash Settled Stock Unit Awards were recorded entirely in selling, general, and administrative expense.

Accumulated Other Comprehensive

Accumulated Other Comprehensive Loss	3 Months Ended
	Mar. 29, 2020
Equity [Abstract]
Accumulated Other Comprehensive Loss	Accumulated Other Comprehensive Loss The following table summarizes the changes in accumulated other comprehensive loss, net of tax, which is reported as a component of shareholders' equity, for the three months ended March 29, 2020 (in thousands): Foreign Currency Translation Adjustments Pension, net Derivative Total Balance as of December 31, 2019 $ (53,848 ) $ (19,513 ) $ (6,906 ) $ (80,267 ) Other comprehensive loss (20,325 ) 39 (2,320 ) (22,606 ) Balance as of March 29, 2020 $ (74,173 ) $ (19,474 ) $ (9,226 ) $ (102,873 )

Earnings Per Common Share

Earnings Per Common Share	3 Months Ended
	Mar. 29, 2020
Earnings Per Share [Abstract]
Earnings Per Common Share	(16) Loss Per Common Share ("EPS") Stock options, RSU Awards, and RSU MSPs covering 417,932 and 901,098 shares of common stock for the three months ended March 29, 2020 and March 31, 2019 , respectively, were not included in the computation of diluted EPS because their effect would be anti-dilutive.

Subsequent Event

Subsequent Event	3 Months Ended
	Mar. 29, 2020
Subsequent Event [Abstract]
Subsequent Events [Text Block]	(17) Subsequent Events On May 18, 2020, the Company entered into Amendment No. 4 to the Credit Agreement (the “Fourth Amendment”), which amends the Credit Agreement, dated as of December 11, 2017, among the Company, certain domestic subsidiaries of the Company, as guarantors, the lenders from time to time party thereto, Deutsche Bank AG New York Branch, as term loan administrative agent and collateral agent, and Truist Bank (formerly known as SunTrust Bank), as revolver administrative agent, swing line lender and a letter of credit issuer (as amended by Amendment No. 1 to the Credit Agreement dated as of January 23, 2018, by Amendment No. 2 to the Credit Agreement dated as of February 19, 2020, and by Amendment No. 3 to the Credit Agreement dated as of February 26, 2020, the “Original Credit Agreement” and as amended by the Fourth Amendment, the “Credit Agreement”). The Fourth Amendment makes certain changes to the Original Credit Agreement, including, among other things, (i) changing the frequency of the immaterial subsidiary testing date from annually to quarterly and (ii) extending the deadline by which the financial statements must be reported (A) with respect to annual reporting, from 90 days after the close of each fiscal year to 100 days after the close of each fiscal year and (B) with respect to quarterly reporting, from 50 days after the close of each fiscal quarter to 60 days after the close of each fiscal quarter, in each case subject to extension to the date that is 2 business days after the last day of any extension or deferral period permitted by the SEC with respect to any such report. In connection with the execution of the Fourth Amendment, the Company paid customary arranger and lender consent fees and fees and expenses of Deutsche Bank AG New York Branch, in its capacity as term loan administrative agent, and Truist Bank (formerly known as SunTrust Bank), in its capacity as revolver administrative agent.

Summary Of Significant Accoun_2

Summary Of Significant Accounting Policies Summary Of Significant Accounting Policies (Tables)	3 Months Ended
	Mar. 29, 2020
Accounting Policies [Abstract]
Schedule of Cumulative Effect of Changes for Adoption of Revenue Standard	(2) Summary of Significant Accounting Policies The significant accounting policies used in preparation of these condensed consolidated financial statements for the three months ended March 29, 2020 are consistent with those discussed in Note 2 to the consolidated financial statements in our Annual Report on Form 10-K for the year ended December 31, 2019 , except as updated below with respect to newly adopted accounting standards. The preparation of these financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in the condensed consolidated financial statements and accompanying disclosures. Some of the more significant estimates, which are impacted by management's estimates and assumptions regarding the effects of COVID-19, relate to recoverability of goodwill and indefinite-lived trade names, estimated total costs for ongoing long-term contracts accounted for as performance obligations where transfer of control occurs over time, inventory valuation, share-based compensation, amortization and impairment of long-lived assets, income taxes, penalty accruals for late shipments, other asset valuations, and product warranties. While management believes that the estimates and assumptions used in the preparation of the financial statements are appropriate, actual future results as estimated in the current period could differ materially from those estimates. New Accounting Standards In June 2016, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") 2016-13, Financial Instruments - Credit Losses (ASC 326): Measurement of Credit Losses on Financial Instruments . The new guidance, referred to as the current expected credit loss (“CECL”) model, requires the measurement of expected credit losses for financial assets (e.g., accounts receivable) held at the reporting date based on historical experience, current economic conditions, and reasonable and supportable forecasts which generally result in the more timely recognition of losses. The adoption of this new guidance on January 1, 2020 did not have a material impact on our condensed consolidated financial statements.

Discontinued Operations (Tables

Discontinued Operations (Tables)	3 Months Ended
	Mar. 29, 2020
Discontinued Operations and Disposal Groups [Abstract]
Disposal Groups, Including Discontinued Operations	The following table presents the summarized components of loss from discontinued operations for the DV business for the three months ended March 29, 2020 and March 31, 2019 , and for the EV business for the three months ended March 31, 2019 (in thousands): Three Months Ended March 29, 2020 March 31, 2019 Net revenues $ 6,237 $ 31,540 Cost of revenues 11,358 32,085 Gross loss (5,121 ) (545 ) Selling, general and administrative expenses 3,139 5,466 Special and restructuring (recoveries) charges, net (1,328 ) 26 Operating loss (6,932 ) (6,037 ) Other (income) expense: Interest (income) expense, net (7 ) 86 Other expense, net 5,410 235 Total other expense, net 5,403 321 Loss from discontinued operations, pre tax (12,335 ) (6,358 ) Benefit from income tax (21,497 ) (630 ) Income (loss) from discontinued operations, net of tax $ 9,162 $ (5,728 ) Assets Held for Sale During the quarter ended March 29, 2020 , the Company completed the sale of its non-core Instrumentation and Sampling ("I&S") business. See Note 5, Special and Restructuring Recoveries, net for additional information on this divestiture. As of December 31, 2019 , the I&S business is reported as "held for sale" within the current assets and current liabilities section of our condensed consolidated balance sheet. The following table presents the balance sheet information for assets and liabilities held for sale as of March 29, 2020 and December 31, 2019 by business (in thousands): March 29, 2020 December 31, 2019 DV DV I&S Total Trade accounts receivable, net $ 1,434 $ 467 $ 9,935 $ 10,402 Inventories 46,353 55,521 13,878 69,399 Prepaid expenses and other current assets 2,382 2,867 616 3,483 Property, plant, and equipment, net 5,824 6,742 6,409 13,151 Goodwill — — 91,492 91,492 Deferred tax asset 606 778 1,089 1,867 Other assets 6,980 4,793 6,363 11,156 Valuation adjustment on classification to assets held for sale (36,962 ) (39,757 ) — (39,757 ) Total assets held for sale $ 26,617 $ 31,411 $ 129,782 $ 161,193 Accounts payable $ 8,314 $ 8,708 $ 5,997 $ 14,705 Accrued and other current liabilities 5,095 5,834 2,192 8,026 Deferred income taxes 228 638 151 789 Other liabilities 12,980 13,931 5,838 19,769 Total liabilities held for sale $ 26,617 $ 29,111 $ 14,178 $ 43,289

Revenue Recognition (Tables)

Revenue Recognition (Tables)	3 Months Ended
	Mar. 29, 2020
Revenue from Contract with Customer [Abstract]
Disaggregation of Revenue	Three Months Ended March 29, 2020 March 31, 2019 Aerospace & Defense Segment Commercial Aerospace & Other $ 26,320 $ 28,706 Defense 39,173 32,534 Total 65,493 61,240 Industrial Segment Valves 54,190 92,303 Pumps 72,530 85,312 Total 126,720 177,615 Net Revenue $ 192,213 $ 238,855 Three Months Ended March 29, 2020 March 31, 2019 Aerospace & Defense Segment EMEA $ 14,806 $ 17,732 North America 45,988 37,393 Other 4,699 6,115 Total 65,493 61,240 Industrial Segment EMEA 57,006 75,743 North America 43,922 73,847 Other 25,792 28,025 Total 126,720 177,615 Net Revenue $ 192,213 $ 238,855 Contract Balances. The following table presents contract assets and contract liabilities balances as of March 29, 2020 and December 31, 2019 as follows (in thousands): March 29, 2020 December 31, 2019 Increase/(Decrease) Trade accounts receivables, net $ 116,514 $ 125,422 $ (8,908 ) Contract assets (1) 63,826 52,781 11,045 Contract liabilities (2) 39,850 35,007 4,843 (1) Recorded within prepaid expenses and other current assets. (2) Recorded within accrued expenses and other current liabilities. Trade accounts receivable, net decreased by $8.9 million as of March 29, 2020 , primarily due to the timing of cash collections during the three months ended March 29, 2020 . Contract assets increased by $11.0 million, or 20.9% , to $63.8 million primarily driven by unbilled revenue recognized during the three months ended March 29, 2020 within our Defense business (+11%) and Refinery Valves business (+7%). Contract liabilities increased by $ 4.8 million , or 13.8% , to $ 39.8 million as of March 29, 2020 , primarily driven by timing of revenue recognized over time during the three months ended March 29, 2020 . The increase was driven by our Defense business (+11%) and our EMEA Pumps business (+3%).

Special Charges_Recoveries (Tab

Special Charges/Recoveries (Tables)	3 Months Ended
	Mar. 29, 2020
Restructuring and Related Activities [Abstract]
Special and Restructuring Charges, Net	The table below summarizes the amounts recorded within the special and restructuring recoveries, net line item on the condensed consolidated statements of (loss) income for the three months ended March 29, 2020 and March 31, 2019 (in thousands): Special & restructuring (recoveries) charges, net Three Months Ended March 29, 2020 March 31, 2019 Special recoveries, net $ (45,175 ) $ (8,200 ) Restructuring charges, net 2,883 358 Total special and restructuring recoveries, net $ (42,292 ) $ (7,842 )
Special Charges and Recoveries, Net	The table below details the special recoveries, net recorded for the three months ended March 29, 2020 (in thousands): Special & restructuring (recoveries) charges, net Three Months Ended Aerospace & Defense Industrial Corporate Total I&S divestiture $ — $ (53,202 ) $ — $ (53,202 ) Professional fees to review and respond to an unsolicited tender offer to acquire the Company — — 2,355 2,355 Amortization of debt issuance fee — — 3,541 3,541 Other special charges — 101 2,030 2,131 Total special (recoveries) charges, net $ — $ (53,101 ) $ 7,926 $ (45,175 )
Special Charges, Net	The table below details the special recoveries, net recorded for the three months ended March 31, 2019 (in thousands): Special (recoveries) charges, net For the three months ended March 29, 2019 Aerospace & Defense Industrial Corporate Total Reliability Services divestiture $ — $ (10,282 ) $ — $ (10,282 ) Reliability Services 2019 operating expenses — 1,450 — 1,450 Rosscor divestiture related charges — 153 — 153 Trapped cost — — 479 479 Total special (recoveries) charges, net $ — $ (8,679 ) $ 479 $ (8,200 )
Restructuring and Related Costs	The tables below outline the charges associated with restructuring actions recorded for the three months ended March 29, 2020 and March 31, 2019 (in thousands). A description of the restructuring actions is provided in the section titled "Restructuring Programs Summary" below. Restructuring charges, net As of and for the three months ended March 29, 2020 Aerospace & Defense Industrial Corporate Total Facility related expenses $ 10 $ 1,632 $ — $ 1,642 Employee related expenses, net — 1,058 183 1,241 Total restructuring charges, net $ 10 $ 2,690 $ 183 $ 2,883 Accrued restructuring charges as of December 31, 2019 $ 5,199 Total quarter to date charges, net (shown above) 2,883 Charges paid / settled, net (4,154 ) Accrued restructuring charges as of March 29, 2020 $ 3,928 Restructuring charges, net As of and for the three months ended March 31, 2019 Aerospace & Defense Industrial Corporate Total Facility related expenses $ 70 $ — $ — $ 70 Employee related expenses (2 ) 290 — 288 Total restructuring charges, net $ 68 $ 290 $ — $ 358 Accrued restructuring charges as of December 31, 2018 $ 874 Total quarter to date charges, net (shown above) 358 Charges paid / settled, net (571 ) Accrued restructuring charges as of March 31, 2019 $ 661

Inventories (Tables)

Inventories (Tables)	3 Months Ended
	Mar. 29, 2020
Inventory, Net [Abstract]
Components Of Inventory	Inventories consisted of the following (in thousands): March 29, 2020 December 31, 2019 Raw materials $ 73,047 $ 65,315 Work in process 51,548 53,891 Finished goods 22,580 18,103 Total inventories $ 147,175 $ 137,309

Goodwill And Intangible Assets

Goodwill And Intangible Assets (Tables)	3 Months Ended
	Mar. 29, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill, By Segment	The following table shows goodwill by segment as of December 31, 2019 and March 29, 2020 (in thousands): Aerospace & Defense Industrial Total Goodwill as of December 31, 2019 $ 57,385 $ 214,508 $ 271,893 Impairment — (116,182 ) (116,182 ) Currency translation adjustments (43 ) (4,740 ) (4,783 ) Goodwill as of March 29, 2020 $ 57,342 $ 93,586 $ 150,928
Gross Intangible Assets And Related Accumulated Amortization	The table below presents gross intangible assets and the related accumulated amortization as of March 29, 2020 (in thousands): Gross Carrying Amount Accumulated Amortization Net Carrying Value Patents $ 5,368 $ (5,368 ) $ — Customer relationships 293,607 (87,017 ) 206,590 Backlog 22,181 (20,497 ) 1,684 Acquired technology 132,786 (46,717 ) 86,069 Other 336 (336 ) — Total Amortized Assets $ 454,278 $ (159,935 ) $ 294,343 Non-amortized intangibles (primarily trademarks and trade names) $ 74,176 $ 74,176 Total Non-Amortized Intangibles $ 74,176 $ 74,176 Net carrying value of intangible assets $ 368,519
Estimated Remaining Amortization Expense For Intangible Assets	The table below presents estimated remaining amortization expense for intangible assets recorded as of March 29, 2020 (in thousands): 2020 2021 2022 2023 2024 After 2024 Estimated amortization expense $ 32,170 $ 40,672 $ 35,737 $ 31,335 $ 27,538 $ 126,891

Segment Information (Tables)

Segment Information (Tables)	3 Months Ended
	Mar. 29, 2020
Segment Reporting Information [Line Items]
Schedule of Segment Reporting Information, by Segment [Table Text Block]	During the quarter ended March 29, 2020 , we divested our I&S business, which was previously part of the Energy segment. See Note 5, Special and Restructuring Recoveries, net for additional information on this divestiture. In light of this divestiture, effective March 29, 2020 , we realigned our segments by eliminating the Energy segment and moving the remaining businesses into the Industrial segment. The new reporting segments are Industrial and Aerospace & Defense. The current and prior periods are reported under this new segment structure. The following table presents certain reportable segment information (in thousands): Three Months Ended March 29, 2020 March 31, 2019 Net revenues Aerospace & Defense $ 65,493 $ 61,240 Industrial 126,720 177,615 Consolidated net revenues $ 192,213 $ 238,855 Results from continuing operations before income taxes Aerospace & Defense - Segment Operating Income $ 12,494 $ 9,374 Industrial - Segment Operating Income 5,169 22,581 Corporate expenses (6,588 ) (8,522 ) Segment Operating Income 11,075 23,433 Impairment charge 116,182 — Restructuring charges, net 2,883 358 Special recoveries, net (45,175 ) (8,200 ) Special and restructuring recoveries, net (42,292 ) (7,842 ) Restructuring related inventory charges (602 ) 325 Acquisition amortization 10,218 12,077 Acquisition depreciation 974 1,123 Acquisition amortization and other costs, net 10,590 13,525 Consolidated operating (loss) income (73,405 ) 17,750 Interest expense, net 9,011 13,094 Other income, net (2,680 ) (2,148 ) (Loss) income from continuing operations before income taxes $ (79,736 ) $ 6,804 Three Months Ended March 29, 2020 March 31, 2019 Capital expenditures Aerospace & Defense $ 640 $ 788 Industrial 2,225 1,676 Corporate 198 387 Consolidated capital expenditures $ 3,063 $ 2,851 Depreciation and amortization Aerospace & Defense $ 3,093 $ 2,673 Industrial 12,419 15,199 Corporate 125 164 Consolidated depreciation and amortization $ 15,637 $ 18,036 Identifiable assets March 29, 2020 March 31, 2019 Aerospace & Defense $ 463,744 $ 406,064 Industrial 1,650,963 2,288,645 Corporate (805,630 ) (975,375 ) Consolidated identifiable assets $ 1,309,077 $ 1,719,334

Financing Arrangements (Tables)

Financing Arrangements (Tables)	3 Months Ended
	Mar. 29, 2020
Fair Value Disclosures [Abstract]
Fair Value Measurement Inputs and Valuation Techniques [Table Text Block]	The aggregate fair value of the Company's interest rate swap and cross-currency swap as of March 29, 2020 are summarized in the table below (in thousands): Significant Other Observable Inputs Level 2 Derivative asset $ 3,768 Derivative liabilities $ 12,310
Reclassification out of Accumulated Other Comprehensive Income [Table Text Block]	The amount of gain (loss) recognized in other comprehensive (loss) income ("OCI") and reclassified from accumulated other comprehensive (loss) income ("AOCI") to income are summarized below: Three Months Ended March 29, 2020 Amount of loss recognized in OCI $ (4,105 ) Amount of loss reclassified from AOCI into income $ (1,093 )

Guarantees And Indemnificatio_2

Guarantees And Indemnification Obligations (Tables)	3 Months Ended
	Mar. 29, 2020
Guarantees And Indemnification Obligations [Abstract]
Product Warranty Reserves	The following table sets forth information related to our product warranty reserves for the three months ended March 29, 2020 (in thousands): Balance beginning December 31, 2019 $ 1,642 Provisions 368 Claims settled (682 ) Currency translation adjustment (29 ) Balance ending March 29, 2020 $ 1,299 Warranty obligations were $1.6 million as of December 31, 2019 and $1.3 million as of March 29, 2020

Contingencies And Commitments (

Contingencies And Commitments (Tables)	3 Months Ended
	Mar. 29, 2020
Commitments and Contingencies Disclosure [Abstract]
Standby Letters Of Credit Instruments	The following table contains information related to standby letters of credit instruments outstanding as of March 29, 2020 (in thousands): Term Remaining Maximum Potential Future Payments 0–12 months $ 20,747 Greater than 12 months 14,707 Total $ 35,454

Retirement Plans (Tables)

Retirement Plans (Tables)	3 Months Ended
	Mar. 29, 2020
Retirement Benefits, Description [Abstract]
Components Of Net Pension Benefit Expense	The following table sets forth the components of total net periodic benefit cost (income) of the Company’s defined benefit pension plans and other post-retirement employee benefit plans (in thousands): Three Months Ended March 29, 2020 March 31, 2019 Pension Benefits - U.S. Plans Interest cost $ 1,398 $ 1,967 Expected return on plan assets (2,747 ) (2,742 ) Amortization 43 129 Net periodic benefit income $ (1,306 ) $ (646 ) Pension Benefits - Non-U.S. Plans Service cost $ 692 $ 695 Interest cost 339 555 Expected return on plan assets (194 ) (247 ) Amortization 31 5 Net periodic benefit cost $ 868 $ 1,008 Other Post-Retirement Benefits Interest cost $ 66 $ 93 Net periodic benefit cost $ 66 $ 93

Share-Based Compensation (Table

Share-Based Compensation (Tables)	3 Months Ended
	Mar. 29, 2020
Share-based Payment Arrangement, Noncash Expense [Abstract]
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions	The average fair value of stock options granted during the first three months of 2019 was $11.84 per share, estimated using the following weighted-average assumptions: March 31, 2019 Risk-free interest rate 2.6 % Expected life (years) 4.4 Expected stock volatility 38.1 % Expected dividend yield — %

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Loss (Tables)	3 Months Ended
	Mar. 29, 2020
Equity [Abstract]
Schedule of Accumulated Other Comprehensive Income (Loss)	(15) Accumulated Other Comprehensive Loss The following table summarizes the changes in accumulated other comprehensive loss, net of tax, which is reported as a component of shareholders' equity, for the three months ended March 29, 2020 (in thousands): Foreign Currency Translation Adjustments Pension, net Derivative Total Balance as of December 31, 2019 $ (53,848 ) $ (19,513 ) $ (6,906 ) $ (80,267 ) Other comprehensive loss (20,325 ) 39 (2,320 ) (22,606 ) Balance as of March 29, 2020 $ (74,173 ) $ (19,474 ) $ (9,226 ) $ (102,873 )

Discontinued Operations - Narra

Discontinued Operations - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 29, 2020	Mar. 31, 2019	Dec. 31, 2019
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Disposal Group, Including Discontinued Operation, Liabilities			$ 43,289
Impairment of intangible assets	$ 116,182	$ 0
Disposal Group, Including Discontinued Operation, Assets			161,193
Discontinued Operations, Held-for-Sale
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Disposal Group, Including Discontinued Operation, Liabilities	26,617		29,111
Operating loss	(6,932)	$ (6,037)
Disposal Group, Including Discontinued Operation, Assets	26,617		$ 31,411
Long-Cycle Upstream Oil & Gas Engineered Valve | Discontinued Operations, Held-for-Sale
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Loss on sale of disposal	36,700
Distributed Valves | Discontinued Operations, Held-for-Sale
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Goodwill, impairment loss	4,600
Impairment of intangible assets	1,000
Adjustments to assets held for sale to fair value less expected costs to sell	$ 57,100

Discontinued Operations - Summa

Discontinued Operations - Summarized Components of (Loss) Income from Discontinued Operations (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 29, 2020	Mar. 31, 2019
Other (income) expense:
Loss from discontinued operations, pre tax	$ 9,162	$ (5,728)
Discontinued Operations, Held-for-Sale
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Net revenues	6,237	31,540
Cost of revenues	11,358	32,085
Gross loss	(5,121)	(545)
Selling, general and administrative expenses	3,139	5,466
Special and restructuring (recoveries) charges, net	(1,328)	26
Operating loss	(6,932)	(6,037)
Other (income) expense:
Interest (income) expense, net	(7)	86
Other expense, net	5,410	235
Total other expense, net	5,403	321
Loss from discontinued operations, pre tax	(12,335)	(6,358)
Benefit from income tax	(21,497)	(630)
Income (loss) from discontinued operations, net of tax	$ 9,162	$ (5,728)

Discontinued Operations - Balan

Discontinued Operations - Balance Sheet Information for Assets and Liabilties Related to Discontinued Operations (Details) - USD ($) $ in Thousands	Mar. 29, 2020	Dec. 31, 2019
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Trade accounts receivable, net		$ 10,402
Inventories		69,399
Prepaid expenses and other current assets		3,483
Property, plant, and equipment, net		13,151
Goodwill		91,492
Deferred tax asset		1,867
Other assets		11,156
Valuation adjustment on classification to assets held for sale		(39,757)
Total assets held for sale		161,193
Accounts payable		14,705
Accrued and other current liabilities		8,026
Disposal Group, Including Discontinued Operation, Deferred Tax Liabilities		789
Other liabilities		19,769
Total liabilities held for sale		43,289
Discontinued Operations, Held-for-Sale
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Trade accounts receivable, net	$ 1,434	467
Inventories	46,353	55,521
Prepaid expenses and other current assets	2,382	2,867
Property, plant, and equipment, net	5,824	6,742
Goodwill	0	0
Deferred tax asset	606	778
Other assets	6,980	4,793
Valuation adjustment on classification to assets held for sale	(36,962)	(39,757)
Total assets held for sale	26,617	31,411
Accounts payable	8,314	8,708
Accrued and other current liabilities	5,095	5,834
Disposal Group, Including Discontinued Operation, Deferred Tax Liabilities	228	638
Other liabilities	12,980	13,931
Total liabilities held for sale	$ 26,617	29,111
Disposal Group, Held-for-sale, Not Discontinued Operations [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Trade accounts receivable, net		9,935
Inventories		13,878
Prepaid expenses and other current assets		616
Property, plant, and equipment, net		6,409
Goodwill		91,492
Deferred tax asset		1,089
Other assets		6,363
Total assets held for sale		129,782
Accounts payable		5,997
Accrued and other current liabilities		2,192
Disposal Group, Including Discontinued Operation, Deferred Tax Liabilities		151
Other liabilities		5,838
Disposal Group, Including Discontinued Operation, Liabilities, Current		$ 14,178

Revenue Recognition - Narrative

Revenue Recognition - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 29, 2020	Mar. 31, 2019	Dec. 31, 2019	Dec. 31, 2018
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Increase (Decrease) in Accounts Receivable	$ 1,550	$ 1,697
Trade accounts receivable, less allowance for doubtful accounts of $9,017 and $3,086 at March 29, 2020 and December 31, 2019, respectively	116,514		$ 125,422
Total backlog	421,200
Increase in contract liabilities	(4,800)
Contract with Customer, Liability	(39,850)		$ (35,007)
Contract with Customer, Asset, after Allowance for Credit Loss	$ 63,826			$ 52,781
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2020-03-30
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation, percentage	74.00%
Remaining performance obligation, expected period of recognition	9 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation, percentage	19.00%
Remaining performance obligation, expected period of recognition	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation, percentage	7.00%
Remaining performance obligation, expected period of recognition
Accounting Standards Update 2014-09 [Member]
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Increase (Decrease) in Accounts and Other Receivables	$ 8,908
Trade accounts receivable, less allowance for doubtful accounts of $9,017 and $3,086 at March 29, 2020 and December 31, 2019, respectively	116,514
Increase in contract liabilities	(4,843)
Increase/(Decrease)	11,045
Contract with Customer, Asset, after Allowance for Credit Loss	$ 63,800

Revenue Recognition - Disaggreg

Revenue Recognition - Disaggregation of Revenue (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 29, 2020	Mar. 31, 2019	Dec. 31, 2019	Dec. 31, 2018
Disaggregation of Revenue [Line Items]
Trade accounts receivable, less allowance for doubtful accounts of $9,017 and $3,086 at March 29, 2020 and December 31, 2019, respectively	$ 116,514		$ 125,422
Revenue by major product line	192,213	$ 238,855
Contract with Customer, Asset, after Allowance for Credit Loss	63,826			$ 52,781
Contract with Customer, Liability	39,850		$ 35,007
Contract with Customer, Liability, Period Increase (Decrease)	4,800
Aerospace & Defense Segment
Disaggregation of Revenue [Line Items]
Revenue by major product line	65,493	61,240
Aerospace & Defense Segment | EMEA
Disaggregation of Revenue [Line Items]
Revenue by major product line	14,806	17,732
Aerospace & Defense Segment | North America
Disaggregation of Revenue [Line Items]
Revenue by major product line	45,988	37,393
Aerospace & Defense Segment | Total
Disaggregation of Revenue [Line Items]
Revenue by major product line	4,699	6,115
Aerospace & Defense Segment | Commercial Aerospace & Other
Disaggregation of Revenue [Line Items]
Revenue by major product line	26,320	28,706
Aerospace & Defense Segment | Defense
Disaggregation of Revenue [Line Items]
Revenue by major product line	39,173	32,534
Industrial Segment
Disaggregation of Revenue [Line Items]
Revenue by major product line	126,720	177,615
Industrial Segment | EMEA
Disaggregation of Revenue [Line Items]
Revenue by major product line	57,006	75,743
Industrial Segment | North America
Disaggregation of Revenue [Line Items]
Revenue by major product line	43,922	73,847
Industrial Segment | Total
Disaggregation of Revenue [Line Items]
Revenue by major product line	25,792	28,025
Industrial Segment | Valves
Disaggregation of Revenue [Line Items]
Revenue by major product line	54,190	92,303
Industrial Segment | Pumps
Disaggregation of Revenue [Line Items]
Revenue by major product line	72,530	$ 85,312
Accounting Standards Update 2014-09 [Member]
Disaggregation of Revenue [Line Items]
Trade accounts receivable, less allowance for doubtful accounts of $9,017 and $3,086 at March 29, 2020 and December 31, 2019, respectively	116,514
Increase (Decrease) in Accounts and Other Receivables	(8,908)
Contract with Customer, Asset, after Allowance for Credit Loss	63,800
ContractwithCustomerAssetPeriodIncreaseDecrease	11,045
Contract with Customer, Liability, Period Increase (Decrease)	$ 4,843

Special Charges_Recoveries (Det

Special Charges/Recoveries (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 29, 2020	Mar. 31, 2019
Restructuring Reserve [Roll Forward]
Restructuring Reserve Beginning of Period	$ 5,199	$ 874
Restructuring Charges	2,883	358
Other Nonrecurring (Income) Expense	(45,175)	(8,200)
Special charges paid	(4,154)	(571)
Restructuring Reserve End of Period	3,928	661
Employee Severance [Member]
Restructuring Reserve [Roll Forward]
Restructuring Charges	1,241	288
Corporate [Member]
Restructuring Reserve [Roll Forward]
Restructuring Charges	183	0
Other Nonrecurring (Income) Expense	7,926	479
Corporate [Member] | Employee Severance [Member]
Restructuring Reserve [Roll Forward]
Restructuring Charges	$ 183	$ 0

Special Charges_Recoveries Char

Special Charges/Recoveries Charges Incurred to Date (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 29, 2020	Mar. 31, 2019	Dec. 31, 2019	Dec. 31, 2018
Restructuring Cost and Reserve [Line Items]
Special Charges, Net	$ (45,175)	$ (8,200)
Restructuring Charges	2,883	358
Special Other Charges		1,450
Professional fees to review and respond to an unsolicited tender offer to acquire the Company	2,355	153
Other Nonrecurring (Income) Expense	(45,175)	(8,200)
Debt Issuance Costs Incurred During Noncash or Partial Noncash Transaction	3,200
Business Combination, Acquisition Related Costs		479
Restructuring and Related Cost, Incurred Cost	(42,292)	(7,842)
Restructuring Reserve	3,928	661	$ 5,199	$ 874
Payments for Restructuring	(4,154)	(571)
Employee Severance [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring Charges	1,241	288
Facility Closing [Member]
Restructuring Cost and Reserve [Line Items]
Recoveries of Restructuring Charges	1,642	70
Advanced Flow Solutions [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring Charges	10	68
Other Nonrecurring (Income) Expense		0
Advanced Flow Solutions [Member] | Employee Severance [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring Charges	0	(2)
Advanced Flow Solutions [Member] | Facility Closing [Member]
Restructuring Cost and Reserve [Line Items]
Recoveries of Restructuring Charges	10	(70)
Total Aerospace and Defense
Restructuring Cost and Reserve [Line Items]
Other Nonrecurring (Income) Expense	0
Total Industrial
Restructuring Cost and Reserve [Line Items]
Restructuring Charges	2,690	290
Other Nonrecurring (Income) Expense	(53,101)	(8,679)
Total Industrial | Employee Severance [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring Charges	1,058	290
Total Industrial | Facility Closing [Member]
Restructuring Cost and Reserve [Line Items]
Recoveries of Restructuring Charges	1,632	0
Corporate Segment [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring Charges	183	0
Professional fees to review and respond to an unsolicited tender offer to acquire the Company	2,355
Other Nonrecurring (Income) Expense	7,926	479
Business Combination, Acquisition Related Costs		479
Corporate Segment [Member] | Employee Severance [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring Charges	183	0
Corporate Segment [Member] | Facility Closing [Member]
Restructuring Cost and Reserve [Line Items]
Recoveries of Restructuring Charges	0	0
Acquisition-related Costs [Member]
Restructuring Cost and Reserve [Line Items]
Other Nonrecurring (Income) Expense		(10,282)
Acquisition-related Costs [Member] | Total Aerospace and Defense | Divestiture [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring Charges		0
Acquisition-related Costs [Member] | Total Industrial | Divestiture [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring Charges		(10,282)
Acquisition-related Costs [Member] | Corporate Segment [Member]
Restructuring Cost and Reserve [Line Items]
Other Nonrecurring (Income) Expense		0
Business Sales [Member]
Restructuring Cost and Reserve [Line Items]
Other Nonrecurring (Income) Expense	(53,202)
Business Sales [Member] | Total Aerospace and Defense
Restructuring Cost and Reserve [Line Items]
Other Nonrecurring (Income) Expense	0
Business Sales [Member] | Total Industrial
Restructuring Cost and Reserve [Line Items]
Other Nonrecurring (Income) Expense	(53,202)
Business Sales [Member] | Corporate Segment [Member]
Restructuring Cost and Reserve [Line Items]
Other Nonrecurring (Income) Expense	0
Other Cost Saving Initiatives [Member]
Restructuring Cost and Reserve [Line Items]
Other Nonrecurring (Income) Expense	2,131
Debt Issuance Costs Incurred During Noncash or Partial Noncash Transaction	3,541
Other Cost Saving Initiatives [Member] | Total Industrial
Restructuring Cost and Reserve [Line Items]
Other Nonrecurring (Income) Expense	101
Other Cost Saving Initiatives [Member] | Corporate Segment [Member]
Restructuring Cost and Reserve [Line Items]
Other Nonrecurring (Income) Expense	2,030
Debt Issuance Costs Incurred During Noncash or Partial Noncash Transaction	3,541
Segment Reconciling Items [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring Charges	(602)	325
Special Other Charges		(8,200)
Other Nonrecurring (Income) Expense	$ (42,292)	$ (7,842)

Special Charges Narrative (Deta

Special Charges Narrative (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Mar. 29, 2020	Mar. 31, 2019	Jun. 28, 2020	Dec. 31, 2019
Effects on Future Earnings and Cash Flows Resulting from Exit Plan [Line Items]
Share-based Payment Arrangement, Expense	$ 700	$ 1,400
Professional fees to review and respond to an unsolicited tender offer to acquire the Company	2,355	153
Business Combination, Acquisition Related Costs		479
Inventories	147,175			$ 137,309
Restructuring Charges	2,883	358
Special and restructuring (recoveries) charges, net	45,175	8,200
Professional Fees	1,200
Other Nonrecurring Expense	700
Business Combination, Separately Recognized Transactions, Net Gains and Losses			$ 54,600
Debt Issuance Costs Incurred During Noncash or Partial Noncash Transaction	3,200
Payments of Debt Issuance Costs	300
Proceeds from Divestiture of Businesses	200
Industrial Segment
Effects on Future Earnings and Cash Flows Resulting from Exit Plan [Line Items]
Restructuring Charges	2,690	290
Special and restructuring (recoveries) charges, net	53,101	8,679
Aerospace & Defense [Member]
Effects on Future Earnings and Cash Flows Resulting from Exit Plan [Line Items]
Special and restructuring (recoveries) charges, net	0
Advanced Flow Solutions [Member]
Effects on Future Earnings and Cash Flows Resulting from Exit Plan [Line Items]
Restructuring Charges	10	68
Special and restructuring (recoveries) charges, net		0
Corporate Segment [Member]
Effects on Future Earnings and Cash Flows Resulting from Exit Plan [Line Items]
Professional fees to review and respond to an unsolicited tender offer to acquire the Company	2,355
Business Combination, Acquisition Related Costs		479
Restructuring Charges	183	0
Special and restructuring (recoveries) charges, net	(7,926)	(479)
Instrumentation and Sampling [Member]
Effects on Future Earnings and Cash Flows Resulting from Exit Plan [Line Items]
Special and restructuring (recoveries) charges, net	53,200
Other Cost Saving Initiatives [Member]
Effects on Future Earnings and Cash Flows Resulting from Exit Plan [Line Items]
Amortization of Debt Issuance Costs	3,500
Special and restructuring (recoveries) charges, net	(2,131)
Debt Issuance Costs Incurred During Noncash or Partial Noncash Transaction	3,541
Other Cost Saving Initiatives [Member] | Industrial Segment
Effects on Future Earnings and Cash Flows Resulting from Exit Plan [Line Items]
Special and restructuring (recoveries) charges, net	(101)
Other Cost Saving Initiatives [Member] | Corporate Segment [Member]
Effects on Future Earnings and Cash Flows Resulting from Exit Plan [Line Items]
Special and restructuring (recoveries) charges, net	(2,030)
Debt Issuance Costs Incurred During Noncash or Partial Noncash Transaction	3,541
Acquisition-related Costs [Member]
Effects on Future Earnings and Cash Flows Resulting from Exit Plan [Line Items]
Special and restructuring (recoveries) charges, net		10,282
Acquisition-related Costs [Member] | Corporate Segment [Member]
Effects on Future Earnings and Cash Flows Resulting from Exit Plan [Line Items]
Special and restructuring (recoveries) charges, net		0
Acquisition-related Costs [Member] | Divestiture [Member] | Industrial Segment
Effects on Future Earnings and Cash Flows Resulting from Exit Plan [Line Items]
Restructuring Charges		(10,282)
Acquisition-related Costs [Member] | Divestiture [Member] | Aerospace & Defense [Member]
Effects on Future Earnings and Cash Flows Resulting from Exit Plan [Line Items]
Restructuring Charges		$ 0
Phantom Share Units (PSUs) [Member]
Effects on Future Earnings and Cash Flows Resulting from Exit Plan [Line Items]
Share-based Payment Arrangement, Expense	(100)
Restructuring and Related Cost, Incurred Cost [Member] | Phantom Share Units (PSUs) [Member]
Effects on Future Earnings and Cash Flows Resulting from Exit Plan [Line Items]
Share-based Payment Arrangement, Expense	$ 100

Inventories (Components Of Inve

Inventories (Components Of Inventory) (Details) - USD ($) $ in Thousands	Mar. 29, 2020	Dec. 31, 2019
Inventory, Net [Abstract]
Raw materials	$ 73,047	$ 65,315
Work in process	51,548	53,891
Finished goods	22,580	18,103
Inventories	$ 147,175	$ 137,309

Goodwill And Intangible Asset_2

Goodwill And Intangible Assets (Goodwill, By Segment) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 29, 2020	Mar. 31, 2019
Goodwill [Line Items]
Asset Impairment Charges	$ 116,182	$ 0
Goodwill, Purchase Accounting Adjustments	(116,182)
Goodwill [Roll Forward]
Goodwill as of December 31, 2019	271,893
Currency translation adjustments	(4,783)
Goodwill as of March 29, 2020	150,928
Aerospace [Member]
Goodwill [Roll Forward]
Goodwill as of December 31, 2019	57,385
Currency translation adjustments	(43)
Goodwill as of March 29, 2020	57,342
Total Industrial
Goodwill [Roll Forward]
Goodwill as of December 31, 2019	214,508
Currency translation adjustments	(4,740)
Goodwill as of March 29, 2020	$ 93,586

Goodwill And Intangible Asset_3

Goodwill And Intangible Assets (Gross Intangible Assets And Related Accumulated Amortization) (Details) - USD ($) $ in Thousands	Mar. 29, 2020	Dec. 31, 2019
Intangible Assets [Line Items]
Gross Carrying Amount	$ 454,278
Accumulated Amortization	(159,935)
Finite-Lived Intangible Assets, Gross	294,343
Net carrying value of intangible assets	368,519	$ 385,542
Patents [Member]
Intangible Assets [Line Items]
Gross Carrying Amount	5,368
Accumulated Amortization	(5,368)
Finite-Lived Intangible Assets, Net	0
Non-amortized intangibles (primarily trademarks and trade names) [Member]
Intangible Assets [Line Items]
Gross Carrying Amount	74,176
Accumulated Amortization
Indefinite-Lived Intangible Assets Net of Impairment	74,176
Customer relationships
Intangible Assets [Line Items]
Gross Carrying Amount	293,607
Accumulated Amortization	(87,017)
Finite-Lived Intangible Assets, Net	206,590
Backlog [Member]
Intangible Assets [Line Items]
Gross Carrying Amount	22,181
Accumulated Amortization	(20,497)
Finite-Lived Intangible Assets, Net	1,684
Acquired Technology [Member]
Intangible Assets [Line Items]
Gross Carrying Amount	132,786
Accumulated Amortization	(46,717)
Finite-Lived Intangible Assets, Net	86,069
Other [Member]
Intangible Assets [Line Items]
Gross Carrying Amount	336
Accumulated Amortization	(336)
Finite-Lived Intangible Assets, Net	$ 0

Goodwill And Intangible Asset_4

Goodwill And Intangible Assets (Estimated Remaining Amortization Expense For Intangible Assets) (Details) $ in Thousands	Mar. 29, 2020USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
2020	$ 32,170
2021	40,672
2022	35,737
2023	31,335
2024	27,538
After 2024	$ 126,891

Segment Information (Reportable

Segment Information (Reportable Segment Information) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 29, 2020	Mar. 31, 2019	Dec. 31, 2019
Segment Reporting Information [Line Items]
Restructuring Costs and Asset Impairment Charges	$ 10,590	$ 13,525
Net revenues	192,213	238,855
Operating Income (Loss)	(73,405)	17,750
Other Operating Income	11,075	23,433
Special Charges, Net	(45,175)	(8,200)
Special Other Charges		1,450
Total special charges, net	(45,175)	(8,200)
Restructuring Charges	2,883	358
Asset Impairment Charges	116,182	0
Interest expense	9,011	13,094
Other income, net	(2,680)	(2,148)
Income (Loss) from Continuing Operations before Equity Method Investments, Income Taxes, Noncontrolling Interest	(79,736)	6,804
Identifiable assets	1,309,077	1,719,334	$ 1,470,945
Capital expenditures	3,412	3,292
Depreciation, Depletion and Amortization	15,637	18,036
Corporate Identifiable Assets After Elimination Of Intercompany Assets [Member]
Segment Reporting Information [Line Items]
Identifiable assets	87,700	27,800
Aerospace & Defense [Member]
Segment Reporting Information [Line Items]
Net revenues	65,493	61,240
Total special charges, net	0
Aerospace [Member]
Segment Reporting Information [Line Items]
Operating Income (Loss)	12,494	9,374
Identifiable assets	463,744	406,064
Capital expenditures	640	788
Depreciation, Depletion and Amortization	3,093	2,673
Corporate/Eliminations [Member]
Segment Reporting Information [Line Items]
Operating Income (Loss)	(6,588)	(8,522)
Capital expenditures	198	387
Industrial Segment
Segment Reporting Information [Line Items]
Net revenues	126,720	177,615
Operating Income (Loss)	5,169	22,581
Total special charges, net	(53,101)	(8,679)
Restructuring Charges	2,690	290
Identifiable assets	1,650,963	2,288,645
Capital expenditures	2,225	1,676
Depreciation, Depletion and Amortization	12,419	15,199
Corporate Segment [Member]
Segment Reporting Information [Line Items]
Total special charges, net	7,926	479
Restructuring Charges	183	0
Identifiable assets	(805,630)	(975,375)
Depreciation, Depletion and Amortization	125	164
Segment Reconciling Items [Member]
Segment Reporting Information [Line Items]
Special Restructuring Charges		358
Special Other Charges		(8,200)
Total special charges, net	(42,292)	(7,842)
Restructuring Charges	(602)	325
Special Acquisition Amortization	10,218	12,077
Restatement Impact	974	1,123
Restatement Adjustment [Member] | Operating Segments [Member]
Segment Reporting Information [Line Items]
Capital expenditures	3,063	$ 2,851
Interest Rate Swap [Member]
Segment Reporting Information [Line Items]
Interest expense	$ 6,000

Financing Arrangements (Narrati

Financing Arrangements (Narrative) (Details) - USD ($) $ in Thousands	Apr. 12, 2018	Dec. 11, 2017	Mar. 29, 2020	Mar. 31, 2019	Mar. 20, 2020	Dec. 31, 2019	Jul. 12, 2019
Derivative [Line Items]
Derivative asset			$ 3,768
Derivative liabilities			12,310
Long Term Debt, Difference Between Carrying Value And Fair Value			131,800
Long-term Debt			602,300
Restricted Cash			1,100			$ 1,200
Accounts Receivable, Purchase			14,500
Proceeds from Sale and Collection of Receivables			13,600
Accounts Receivable, Sale, Outstanding Purchase Price			800
Interest Expense			9,011	$ 13,094
Repayments of Long-term Debt			180,891	140,500
Interest Rate Swap [Member]
Derivative [Line Items]
Cash flow hedge derivative instrument assets at fair value			(8,500)
Other Comprehensive Income (Loss), Unrealized Gain (Loss) on Derivatives Arising During Period, before Tax			(1,093)
Derivative, Loss on Derivative			1,100
Interest Rate Cash Flow Hedge Gain (Loss) to be Reclassified During Next 12 Months, Net			6,200
Interest Expense			6,000
Cross Currency Interest Rate Contract [Member]
Derivative [Line Items]
Derivative, Term of Contract	3 years
Derivative, Notional Amount							$ 100,000
Derivative, fixed interest rate							2.40%
Other Assets [Member] | Interest Rate Swap [Member]
Derivative [Line Items]
Cash flow hedge derivative instrument assets at fair value			6,000
Accrued Expenses and Other Current Liabilities [Member] | Interest Rate Swap [Member]
Derivative [Line Items]
Cash flow hedge derivative instrument assets at fair value			6,300
Other Current Assets [Member] | Interest Rate Swap [Member]
Derivative [Line Items]
Cash flow hedge derivative instrument assets at fair value			3,800
Deferred Tax Asset [Member] | Interest Rate Swap [Member]
Derivative [Line Items]
Cash flow hedge derivative instrument assets at fair value			2,800
Cash Flow Hedging [Member]
Derivative [Line Items]
Other Comprehensive Income (Loss), Unrealized Gain (Loss) on Derivatives Arising During Period, before Tax			$ (4,105)
Minimum [Member]
Derivative [Line Items]
Accounts Receivable, Sale, Percent			90.00%
Maximum [Member]
Derivative [Line Items]
Accounts Receivable, Sale, Percent			100.00%
Fair Value, Inputs, Level 2 [Member]
Derivative [Line Items]
Long-term Debt, Fair Value			$ 496,100
Term Loan [Member]
Derivative [Line Items]
Long-term Debt, Gross			589,000			636,300
Unamortized Debt Issuance Expense			13,300			$ 17,600
Debt Instrument, Periodic Payment, Interest			8,800	$ 12,400
Repayments of Long-term Debt			$ 161,800
Long-term Line of Credit					$ 80,000
Term Loan [Member] | London Interbank Offered Rate (LIBOR) [Member]
Derivative [Line Items]
Debt Instrument, Basis Spread on Variable Rate			3.00%
Amortization of Debt Issuance Costs			$ 3,200
New Credit Agreement [Member] | London Interbank Offered Rate (LIBOR) [Member]
Derivative [Line Items]
Debt Instrument, Basis Spread on Variable Rate		3.50%
New Credit Agreement [Member] | Base Rate [Member]
Derivative [Line Items]
Debt Instrument, Basis Spread on Variable Rate		3.25%
Citizen Bank, National Association [Member] | Interest Rate Swap [Member]
Derivative [Line Items]
Derivative, Notional Amount			$ 400,000
Derivative, Variable Interest Rate			2.6475%
Derivative, fixed interest rate			6.1475%

Guarantees And Indemnificatio_3

Guarantees And Indemnification Obligations (Product Warranty Reserves) (Details)	3 Months Ended
	Mar. 29, 2020USD ($)
Movement in Standard and Extended Product Warranty, Increase (Decrease) [Roll Forward]
Balance beginning December 31, 2014	$ 1,642,000
Provisions	368,000
Claims settled	(682,000)
Currency translation adjustments	(29,000)
Balance ending October 1, 2017	1,299,000
Liability for indemnification agreements	$ 0

Contingencies And Commitments_2

Contingencies And Commitments (Narrative) (Details) $ in Thousands	3 Months Ended
	Mar. 29, 2020USD ($)
Contingencies, Commitments And Guarantees [Line Items]
Aggregate notional value standby letters of credit	$ 35,454
Minimum [Member]
Contingencies, Commitments And Guarantees [Line Items]
Expiration period, minimum in months and maximum in years	1 month
Maximum [Member]
Contingencies, Commitments And Guarantees [Line Items]
Expiration period, minimum in months and maximum in years	5 years
Settled Litigation | Wage and Hour Action California
Contingencies, Commitments And Guarantees [Line Items]
Settlement liability	$ 2,400

Contingencies And Commitments_3

Contingencies And Commitments (Standby Letters Of Credit Instruments) (Details) $ in Thousands	Mar. 29, 2020USD ($)
Contingencies, Commitments And Guarantees [Line Items]
Letters of Credit Outstanding, Amount	$ 35,454
0-12 months [Member]
Contingencies, Commitments And Guarantees [Line Items]
Letters of Credit Outstanding, Amount	20,747
Greater than 12 months [Member]
Contingencies, Commitments And Guarantees [Line Items]
Letters of Credit Outstanding, Amount	$ 14,707

Retirement Plans (Components Of

Retirement Plans (Components Of Net Pension Benefit Expense) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 29, 2020	Mar. 31, 2019
Pension Benefits | U.S. Plans
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Interest cost	$ 1,398	$ 1,967
Expected return on plan assets	2,747	2,742
Amortization	(43)	(129)
Net periodic benefit income	(1,306)	(646)
Pension Benefits | Non-U.S. Plans
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Service cost	692	695
Interest cost	339	555
Expected return on plan assets	194	247
Amortization	(31)	(5)
Net periodic benefit income	868	1,008
Other Post-Retirement Benefits
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Interest cost	66	93
Net periodic benefit income	$ 66	$ 93

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 29, 2020	Mar. 31, 2019	Dec. 31, 2019
Income Tax Disclosure [Abstract]
Unrecognized tax benefits that would impact effective tax rate	$ 0.9		$ 0.6
Unrecognized tax benefits that would affect the effective tax rate if recognized	0.8		0.6
Deferred tax assets, valuation allowance	14.3		$ 14.3
Income Taxes Paid	$ 1.5	$ 2.1

Share-Based Compensation (Narra

Share-Based Compensation (Narrative) (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended
	Mar. 29, 2020	Mar. 31, 2019	Dec. 31, 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
RSU outstanding	826,349
Shares available for grant	413,507
Compensation expense (benefit)	$ 0.7	$ 1.4
Unrecognized compensation costs	$ 13
Weighted average period of recognition of compensation expense (in years)	2 years
Weighted average contractual term for stock options outstanding, years	3 years 10 months 24 days
Weighted average contractual term for stock options exercisable, years	3 years 6 months
Stock Options [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Weighted Average Grant Date Fair Value		$ 11.84
Stock options outstanding	689,418
Restricted Stock Units (RSUs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted stock units granted	552,010	154,903
Granted RSU awards fair value	$ 12.70	$ 33.07
Aggregate intrinsic value of RSU Awards / RSU MSPs	$ 1.1
Aggregate intrinsic value of RSU Awards outstanding	9
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period, Fair Value	$ 0
Restricted Stock Units (RSUs) [Member] | Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Performance target threshold (as a percent)	0.00%
Restricted Stock Units (RSUs) [Member] | Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Performance target threshold (as a percent)	200.00%
Performance Shares [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted stock units granted	109,278	26,475
Restricted Stock Units Management Stock Purchase Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted stock units granted		56,379
Restricted stock units discount amount		11.10
Cash Settled Stock Unit Awards [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
RSU outstanding	53,513		45,681
Compensation expense (benefit)	$ (0.1)
Cash used to settle awards	0.7
Accrued expenses and current liabilities for Cash Settled Stock Unit Awards	0.1		$ 0.9
Cash Settled Stock Unit Awards [Member] | Selling, General and Administrative Expenses [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Compensation expense (benefit)	$ 0.6	$ 0.4

Share-Based Compensation (Sched

Share-Based Compensation (Schedule Of Estimated Weighted-Average Assumptions Of Stock Options) (Details)	3 Months Ended
	Mar. 31, 2019
Share-based Payment Arrangement, Noncash Expense [Abstract]
Risk-free interest rate	2.60%
Expected life	4 years 4 months 24 days
Expected stock volatility	38.10%
Expected dividend yield	0.00%

Share-Based Compensation CEO In

Share-Based Compensation CEO Inducement Stock Award (Details) - Stock Options [Member] - $ / shares	3 Months Ended
	Mar. 29, 2020	Mar. 31, 2019
Deferred Compensation Arrangement with Individual, Share-based Payments [Line Items]
Stock options granted (in shares)	0	153,726
Grant Date Fair Value (in usd per share)		$ 11.84

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Loss (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 29, 2020	Mar. 31, 2019
Accumulated Other Comprehensive Income (Loss) [Line Items]
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent	$ (22,606)	$ (10,974)
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Balance as of December 31, 2019	(80,267)
Foreign currency translation adjustments	(20,325)	(8,840)
Interest rate swap adjustments (1)	(2,320)	$ (2,134)
Other comprehensive loss	(22,606)
Balance as of March 29, 2020	(102,873)
Foreign Currency Translation Adjustments
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Balance as of December 31, 2019	(53,848)
Balance as of March 29, 2020	(74,173)
Pension, net
Accumulated Other Comprehensive Income (Loss) [Line Items]
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent	39
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Balance as of December 31, 2019	(19,513)
Balance as of March 29, 2020	(19,474)
Derivative
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Balance as of December 31, 2019	(6,906)
Balance as of March 29, 2020	$ (9,226)

Accumulated Other Comprehensi_4

Accumulated Other Comprehensive Loss (Impact on Comprehensive Income) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 29, 2020	Mar. 31, 2019
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Overstated (understated) comprehensive income	$ (22,606)	$ (10,974)

Earnings Per Common Share (Deta

Earnings Per Common Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 29, 2020	Mar. 31, 2019
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Net loss	$ (78,948)	$ (4,633)
Basic Earnings Per Common Share (EPS), Shares	19,935,000	19,870,000
Basic EPS, Per Share Amount	$ (3.96)	$ (0.23)
Diluted EPS, Shares	19,935,000	19,976,000
Diluted EPS, Per Share Amount	$ (3.96)	$ (0.23)
Stock Options [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive options and RSUs, shares	417,932
RSU Awards [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive options and RSUs, shares		901,098