Kadant (KAI) 10-Q 7 Aug 19 2019 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 29, 2019	Jul. 26, 2019
Cover page.
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 29, 2019
Document Transition Report	false
Entity File Number	001-11406
Entity Registrant Name	KADANT INC
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	52-1762325
Entity Address, Address Line One	One Technology Park Drive
Entity Address, City or Town	Westford
Entity Address, State or Province	MA
Entity Address, Postal Zip Code	01886
City Area Code	978
Local Phone Number	776-2000
Title of 12(b) Security	Common Stock, $.01 par value
Trading Symbol	KAI
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		11,260,265
Entity Central Index Key	0000886346
Current Fiscal Year End Date	--12-28
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	Q2
Amendment Flag	false

Condensed Consolidated Balance

Condensed Consolidated Balance Sheet (Unaudited) - USD ($) $ in Thousands	Jun. 29, 2019	Dec. 29, 2018
Current Assets:
Cash and cash equivalents	$ 57,049	$ 45,830
Restricted cash (Note 1)	1,089	287
Accounts receivable, less allowances of $2,810 and $2,897 (Note 1)	106,202	92,624
Inventories (Note 1)	109,788	86,373
Unbilled revenues	13,728	15,741
Other current assets	17,322	11,906
Total Current Assets	305,178	252,761
Property, Plant, and Equipment, at Cost	180,823	170,697
Less: accumulated depreciation and amortization	94,237	90,540
Property, Plant, and Equipment, at Cost, Net	86,586	80,157
Other Assets (Note 8)	47,446	21,310
Intangible Assets, Net (Notes 1 and 2)	186,390	113,347
Goodwill (Notes 1 and 2)	340,191	258,174
Total Assets	965,791	725,749
Current Liabilities:
Current maturities of long-term obligations (Note 5)	2,798	1,668
Accounts payable	41,974	35,720
Customer deposits	31,789	26,987
Accrued payroll and employee benefits	28,023	30,902
Advanced billings	7,907	5,534
Other current liabilities	33,229	28,178
Total Current Liabilities	145,720	128,989
Long-Term Obligations (Note 5)	343,991	174,153
Long-Term Deferred Income Taxes	26,588	22,962
Other Long-Term Liabilities (Note 8)	48,932	25,074
Commitments and Contingencies (Note 14)
Stockholders' Equity:
Preferred stock, $.01 par value, 5,000,000 shares authorized; none issued	0	0
Common stock, $.01 par value, 150,000,000 shares authorized; 14,624,159 shares issued	146	146
Capital in excess of par value	103,767	104,731
Retained earnings	415,605	393,578
Treasury stock at cost, 3,369,304 and 3,514,163 shares	(82,562)	(86,111)
Accumulated other comprehensive items (Note 9)	(38,251)	(39,376)
Total Kadant Stockholders' Equity	398,705	372,968
Noncontrolling interest	1,855	1,603
Total Stockholders' Equity	400,560	374,571
Total Liabilities and Stockholders' Equity	$ 965,791	$ 725,749

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheet (Unaudited) (Parenthetical) - USD ($) $ in Thousands	Jun. 29, 2019	Dec. 29, 2018
Current Assets:
Accounts receivable, allowances	$ 2,810	$ 2,897
Stockholders' Equity:
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, authorized (in shares)	5,000,000	5,000,000
Preferred stock, issued (in shares)	0	0
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, authorized (in shares)	150,000,000	150,000,000
Common stock, issued (in shares)	14,624,159	14,624,159
Treasury stock (in shares)	3,369,304	3,514,163

Condensed Consolidated Statemen

Condensed Consolidated Statement of Income (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 29, 2019	Jun. 30, 2018	Jun. 29, 2019	Jun. 30, 2018
Income Statement [Abstract]
Revenues (Notes 1 and 12)	$ 177,165	$ 154,913	$ 348,481	$ 304,106
Costs and Operating Expenses:
Cost of revenues	102,794	86,749	203,595	169,863
Selling, general, and administrative expenses	48,467	45,132	97,786	90,908
Research and development expenses	2,762	2,728	5,383	5,597
Restructuring costs (Note 13)	0	569	0	1,339
Total Costs and Operating Expenses	154,023	135,178	306,764	267,707
Operating Income	23,142	19,735	41,717	36,399
Interest Income	59	122	115	305
Interest Expense	(3,573)	(1,850)	(7,077)	(3,582)
Other Expense, Net (Note 7)	(99)	(245)	(198)	(491)
Income Before Provision for Income Taxes	19,529	17,762	34,557	32,631
Provision for Income Taxes (Note 4)	3,128	5,271	7,091	9,132
Net Income	16,401	12,491	27,466	23,499
Net Income Attributable to Noncontrolling Interest	(97)	(142)	(262)	(292)
Net Income Attributable to Kadant	$ 16,304	$ 12,349	$ 27,204	$ 23,207
Earnings per Share Attributable to Kadant (Note 3):
Basic (in dollars per share)	$ 1.46	$ 1.11	$ 2.44	$ 2.10
Diluted (in dollars per share)	$ 1.42	$ 1.08	$ 2.38	$ 2.04
Weighted Average Shares (Note 3):
Basic (in shares)	11,194	11,092	11,164	11,067
Diluted (in shares)	11,448	11,400	11,416	11,371

Condensed Consolidated Statem_2

Condensed Consolidated Statement of Comprehensive Income (Loss) (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 29, 2019	Jun. 30, 2018	Jun. 29, 2019	Jun. 30, 2018
Statement of Comprehensive Income [Abstract]
Net Income	$ 16,401	$ 12,491	$ 27,466	$ 23,499
Other Comprehensive Items:
Foreign currency translation adjustment	1,953	(15,776)	1,488	(10,440)
Pension and other post-retirement liability adjustments (net of tax provision of $2, $75, $10 and $109)	7	212	28	329
Deferred loss on cash flow hedges (net of tax benefit of $39, $55, $143 and $47)	(164)	(173)	(401)	(80)
Other Comprehensive Items	1,796	(15,737)	1,115	(10,191)
Comprehensive Income (Loss)	18,197	(3,246)	28,581	13,308
Comprehensive Income Attributable to Noncontrolling Interest	(120)	(46)	(252)	(239)
Comprehensive Income (Loss) Attributable to Kadant	$ 18,077	$ (3,292)	$ 28,329	$ 13,069

Condensed Consolidated Statem_3

Condensed Consolidated Statement of Comprehensive Income (Loss) (Unaudited) (Parenthetical) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 29, 2019	Jun. 30, 2018	Jun. 29, 2019	Jun. 30, 2018
Other Comprehensive Items:
Pension and other post-retirement liability adjustments, tax effect	$ 2	$ 75	$ 10	$ 109
Deferred benefit on cash flow hedges, tax effect	$ 39	$ 55	$ 143	$ 47

Condensed Consolidated Statem_4

Condensed Consolidated Statement of Cash Flows (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Jun. 29, 2019	Jun. 30, 2018
Operating Activities
Net Income Attributable to Kadant	$ 27,204	$ 23,207
Net income attributable to noncontrolling interest	262	292
Net income	27,466	23,499
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	16,541	11,943
Stock-based compensation expense	3,467	3,610
Right-of-use asset amortization	2,169	0
Provision for losses on accounts receivable	39	438
(Gain) loss on the sale of property, plant, and equipment	(189)	54
Other items, net	(1,318)	(869)
Changes in current assets and liabilities, net of effects of acquisitions:
Accounts receivable	(2,855)	(974)
Unbilled revenues	2,131	2,228
Inventories	(9,326)	(14,238)
Other current assets	(3,417)	(2,781)
Accounts payable	3,419	4,039
Other current liabilities	(5,639)	8,622
Net cash provided by operating activities	32,488	35,571
Investing Activities
Acquisition, net of cash acquired (Note 2)	(176,855)	0
Purchases of property, plant, and equipment	(4,143)	(10,211)
Proceeds from sale of property, plant, and equipment	368	213
Net cash used in investing activities	(180,630)	(9,998)
Financing Activities
Proceeds from issuance of long-term obligations	191,000	16,000
Repayment of long-term obligations	(24,562)	(47,096)
Tax withholding payments related to stock-based compensation	(2,670)	(3,641)
Dividends paid	(5,014)	(4,756)
Proceeds from issuance of Company common stock	1,697	742
Payment of debt issuance costs	(52)	0
Net cash provided by (used in) financing activities	160,399	(38,751)
Exchange Rate Effect on Cash, Cash Equivalents, and Restricted Cash	(236)	(2,516)
Increase (Decrease) in Cash, Cash Equivalents, and Restricted Cash	12,021	(15,694)
Cash, Cash Equivalents, and Restricted Cash at Beginning of Period	46,117	76,846
Cash, Cash Equivalents, and Restricted Cash at End of Period	$ 58,138	$ 61,152

Condensed Consolidated Statem_5

Condensed Consolidated Statement of Stockholders' Equity (Unaudited) - USD ($) $ in Thousands	Total	Common Stock	Capital in Excess of Par Value	Retained Earnings	Treasury Stock	Accumulated Other Comprehensive Items	Noncontrolling Interest
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Adoption of ASU | ASU No. 2014-09	$ 119			$ 119
Adoption of ASU | ASU No. 2016-16	(75)			(75)
Beginning balance (in shares) at Dec. 30, 2017		14,624,159			3,613,838
Beginning balance at Dec. 30, 2017	332,504	$ 146	$ 103,221	342,893	$ (88,554)	$ (26,715)	$ 1,513
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net Income	23,499			23,207			292
Dividend declared – Common Stock	(4,882)			(4,882)
Activity under stock plans	711		(1,379)		$ 2,090
Activity under stock plans (in shares)					(85,288)
Other comprehensive items	(10,191)					(10,138)	(53)
Ending balance (in shares) at Jun. 30, 2018		14,624,159			3,528,550
Ending balance at Jun. 30, 2018	341,685	$ 146	101,842	361,262	$ (86,464)	(36,853)	1,752
Beginning balance (in shares) at Mar. 31, 2018		14,624,159			3,533,950
Beginning balance at Mar. 31, 2018	345,227	$ 146	99,828	351,355	$ (86,596)	(21,212)	1,706
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net Income	12,491			12,349			142
Dividend declared – Common Stock	(2,442)			(2,442)
Activity under stock plans	2,146		2,014		$ 132
Activity under stock plans (in shares)					(5,400)
Other comprehensive items	(15,737)					(15,641)	(96)
Ending balance (in shares) at Jun. 30, 2018		14,624,159			3,528,550
Ending balance at Jun. 30, 2018	341,685	$ 146	101,842	361,262	$ (86,464)	(36,853)	1,752
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Adoption of ASU | ASU No. 2016-02	(17)			(17)
Beginning balance (in shares) at Dec. 29, 2018		14,624,159			3,514,163
Beginning balance at Dec. 29, 2018	374,571	$ 146	104,731	393,578	$ (86,111)	(39,376)	1,603
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net Income	27,466			27,204			262
Dividend declared – Common Stock	(5,160)			(5,160)
Activity under stock plans	2,585		(964)		$ 3,549
Activity under stock plans (in shares)					(144,859)
Other comprehensive items	1,115					1,125	(10)
Ending balance (in shares) at Jun. 29, 2019		14,624,159			3,369,304
Ending balance at Jun. 29, 2019	400,560	$ 146	103,767	415,605	$ (82,562)	(38,251)	1,855
Beginning balance (in shares) at Mar. 30, 2019		14,624,159			3,449,728
Beginning balance at Mar. 30, 2019	381,996	$ 146	102,780	401,891	$ (84,532)	(40,024)	1,735
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net Income	16,401			16,304			97
Dividend declared – Common Stock	(2,590)			(2,590)
Activity under stock plans	2,957		987		$ 1,970
Activity under stock plans (in shares)					(80,424)
Other comprehensive items	1,796					1,773	23
Ending balance (in shares) at Jun. 29, 2019		14,624,159			3,369,304
Ending balance at Jun. 29, 2019	$ 400,560	$ 146	$ 103,767	$ 415,605	$ (82,562)	$ (38,251)	$ 1,855

Condensed Consolidated Statem_6

Condensed Consolidated Statement of Stockholders' Equity (Unaudited) - Parenthetical - $ / shares	3 Months Ended		6 Months Ended
	Jun. 29, 2019	Jun. 30, 2018	Jun. 29, 2019	Jun. 30, 2018
Statement of Stockholders' Equity [Abstract]
Cash Dividends Declared per Common Share (in dollars per share)	$ 0.23	$ 0.22	$ 0.46	$ 0.44

Nature of Operations and Summar

Nature of Operations and Summary of Significant Accounting Policies	6 Months Ended
	Jun. 29, 2019
Accounting Policies [Abstract]
Nature of Operations and Summary of Significant Accounting Policies	Nature of Operations and Summary of Significant Accounting Policies Nature of Operations Kadant Inc. was incorporated in Delaware in November 1991 and currently trades on the New York Stock Exchange under the ticker symbol "KAI." Kadant Inc. (together with its subsidiaries, the Company) is a global supplier of high-value, critical components and engineered systems used in process industries worldwide. The Company has a diverse and large customer base, including most of the world's major paper, lumber and oriented strand board (OSB) manufacturers, and various mining companies across multiple industries. Its products, technologies, and services play an integral role in enhancing process efficiency, optimizing energy utilization, and maximizing productivity in resource-intensive industries. The Company's operations include three reportable operating segments, Papermaking Systems, Wood Processing Systems, and Material Handling Systems, and a separate product line, Fiber-based Products, which manufactures granules made from papermaking by-products. See Note 2 for information regarding the Company's most recent acquisition, which comprises its new Material Handling Systems segment. Interim Financial Statements The interim condensed consolidated financial statements and related notes presented have been prepared by the Company, are unaudited, and, in the opinion of management, reflect all adjustments of a normal recurring nature necessary for a fair statement of the Company's financial position at June 29, 2019 and its results of operations, comprehensive income (loss), and stockholders' equity for the three- and six -month periods ended June 29, 2019 and June 30, 2018 , and its cash flows for the six -month periods ended June 29, 2019 and June 30, 2018 . Interim results are not necessarily indicative of results for a full year or for any other interim period. The condensed consolidated balance sheet presented as of December 29, 2018 has been derived from the consolidated financial statements contained in the Company's Annual Report on Form 10-K for the fiscal year ended December 29, 2018 . The condensed consolidated financial statements and related notes are presented as permitted by the Securities and Exchange Commission (SEC) rules and regulations for Form 10-Q and do not contain certain information included in the annual consolidated financial statements and related notes of the Company. The condensed consolidated financial statements and notes included herein should be read in conjunction with the consolidated financial statements and related notes included in the Company's Annual Report on Form 10-K for the fiscal year ended December 29, 2018 , filed with the SEC. Use of Estimates and Critical Accounting Policies The preparation of financial statements in conformity with U.S. generally accepted accounting principles (GAAP) requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenues and expenses during the reporting period. Although the Company makes every effort to ensure the accuracy of the estimates and assumptions used in the preparation of its condensed consolidated financial statements or in the application of accounting policies, if business conditions were different, or if the Company were to use different estimates and assumptions, it is possible that materially different amounts could be reported in the Company's condensed consolidated financial statements. Notes 1 and 3 to the consolidated financial statements in the Company's Annual Report on Form 10-K for the fiscal year ended December 29, 2018 describe the significant accounting estimates and policies used in preparation of the consolidated financial statements. There have been no material changes in the Company’s significant accounting policies during the six months ended June 29, 2019 , except for the adoption of Accounting Standards Codification (ASC), Leases (Topic 842) (ASC 842). See Recently Adopted Accounting Pronouncements within this note and Note 8 for further details. Supplemental Cash Flow Information See Note 8 for supplemental cash flow information related to the Company's lease obligations. Six Months Ended (In thousands) June 29, June 30, Cash Paid for Interest $ 6,108 $ 4,268 Cash Paid for Income Taxes, Net of Refunds $ 12,975 $ 14,808 Non-Cash Investing Activities: Post-closing adjustment $ — $ 237 Liabilities assumed of acquired business $ 30,064 $ — Non-cash additions to property, plant, and equipment $ 306 $ 1,033 Non-Cash Financing Activities: Issuance of Company common stock upon vesting of restricted stock units $ 3,743 $ 3,264 Dividends declared but unpaid $ 2,590 $ 2,442 Restricted Cash The Company's restricted cash serves as collateral for bank guarantees primarily associated with providing assurance to customers that the Company will fulfill certain customer obligations entered into in the normal course of business. The majority of the bank guarantees will expire over the next twelve months . The following table provides a reconciliation of cash, cash equivalents, and restricted cash reported within the Company's condensed consolidated balance sheet that are shown in aggregate in the accompanying condensed consolidated statement of cash flows: (In thousands) June 29, June 30, December 29, December 30, Cash and cash equivalents $ 57,049 $ 60,177 $ 45,830 $ 75,425 Restricted cash 1,089 975 287 1,421 Total Cash, Cash Equivalents, and Restricted Cash $ 58,138 $ 61,152 $ 46,117 $ 76,846 Banker's Acceptance Drafts included in Accounts Receivable The Company's Chinese subsidiaries may receive banker's acceptance drafts from customers as payment for their trade accounts receivable. The drafts are noninterest-bearing obligations of the issuing bank and mature within six months of the origination date. The Company's subsidiaries may sell the drafts at a discount to a third-party financial institution or transfer the drafts to vendors in settlement of current accounts payable prior to the scheduled maturity date. These drafts, which totaled $7,706,000 at June 29, 2019 and $7,976,000 at December 29, 2018 , are included in accounts receivable in the accompanying condensed consolidated balance sheet until the subsidiary sells the drafts to a bank and receives a discounted amount, transfers the banker's acceptance drafts in settlement of current accounts payable prior to maturity, or obtains cash payment on the scheduled maturity date. Inventories The components of inventories are as follows: June 29, December 29, (In thousands) Raw Materials $ 49,899 $ 44,522 Work in Process 21,800 15,876 Finished Goods 38,089 25,975 $ 109,788 $ 86,373 Intangible Assets, Net Acquired intangible assets by major asset class are as follows: (In thousands) Gross Accumulated Currency Net June 29, 2019 Definite-Lived Customer relationships $ 171,583 $ (45,001 ) $ (3,661 ) $ 122,921 Product technology 57,501 (25,692 ) (1,544 ) 30,265 Tradenames 5,227 (2,201 ) (391 ) 2,635 Other 18,064 (12,998 ) (580 ) 4,486 252,375 (85,892 ) (6,176 ) 160,307 Indefinite-Lived Tradenames 26,100 — (17 ) 26,083 Acquired Intangible Assets $ 278,475 $ (85,892 ) $ (6,193 ) $ 186,390 December 29, 2018 Definite-Lived Customer relationships $ 113,283 $ (38,160 ) $ (4,520 ) $ 70,603 Product technology 46,501 (23,563 ) (1,677 ) 21,261 Tradenames 5,227 (1,980 ) (390 ) 2,857 Other 13,744 (11,476 ) (127 ) 2,141 178,755 (75,179 ) (6,714 ) 96,862 Indefinite-Lived Tradenames 16,600 — (115 ) 16,485 Acquired Intangible Assets $ 195,355 $ (75,179 ) $ (6,829 ) $ 113,347 Intangible assets are initially recorded at fair value at the date of acquisition. Definite-lived intangible assets are stated net of accumulated amortization and currency translation in the accompanying condensed consolidated balance sheet. The Company amortizes definite-lived intangible assets over lives that have been determined based on the anticipated cash flow benefits of the intangible asset. Goodwill The changes in the carrying amount of goodwill by segment are as follows: (In thousands) Papermaking Systems Wood Processing Systems Material Handling Systems Total Balance at December 29, 2018 Gross balance $ 241,912 $ 101,771 $ — $ 343,683 Accumulated impairment losses (85,509 ) — — (85,509 ) Net balance 156,403 101,771 — 258,174 2019 Adjustments Acquisition (Note 2) — — 80,991 80,991 Currency translation (394 ) 1,420 — 1,026 Total 2019 adjustments (394 ) 1,420 80,991 82,017 Balance at June 29, 2019 Gross balance 241,518 103,191 80,991 425,700 Accumulated impairment losses (85,509 ) — — (85,509 ) Net balance $ 156,009 $ 103,191 $ 80,991 $ 340,191 Warranty Obligations The Company's contracts covering the sale of its products include warranty provisions that provide assurance to its customers that the products will comply with agreed-upon specifications. The Company negotiates the terms regarding warranty coverage and length of warranty depending on the products and applications. The changes in the carrying amount of accrued warranty costs included in other current liabilities in the accompanying condensed consolidated balance sheet are as follows: Six Months Ended (In thousands) June 29, June 30, Balance at Beginning of Year $ 5,726 $ 5,498 Provision charged to expense 2,368 1,656 Usage (1,755 ) (881 ) Acquisition 303 — Currency translation 37 (192 ) Balance at End of Period $ 6,679 $ 6,081 Revenue Recognition The Company recognizes revenue under ASC 606, Revenue from Contracts with Customers. Most of the Company’s revenue is recognized at a point in time for each performance obligation under the contract when the customer obtains control of the goods or service. The majority of the Company’s parts and consumables products and capital products with minimal customization are accounted for at a point in time. The Company has made a policy election not to treat the obligation to ship as a separate performance obligation under the contract and, as a result, the associated shipping costs are accrued when revenue is recognized. The remaining portion of the Company’s revenue is recognized on an over time basis based on an input method that compares the costs incurred to date to the total expected costs required to satisfy the performance obligation. Contracts are accounted for on an over time basis when they include products which have no alternative use and an enforceable right to payment over time. Contracts recognized on an over time basis are typically for large capital projects which are highly customized for the customer and, as a result, would include a significant cost to rework in the event of cancellation. The following table presents revenue by revenue recognition method: Three Months Ended Six Months Ended June 29, June 30, June 29, June 30, (In thousands) 2019 2018 2019 2018 Point in time $ 157,716 $ 145,998 $ 305,992 $ 288,003 Over time 19,449 8,915 42,489 16,103 $ 177,165 $ 154,913 $ 348,481 $ 304,106 The transaction price is typically based on the amount billed to the customer and includes estimated variable consideration where applicable. Such variable consideration relates to certain performance guarantees and rights to return the product. The Company estimates variable consideration as the most likely amount to which it expects to be entitled based on the terms of the contracts with customers and historical experience, where relevant. For contracts with multiple performance obligations, the transaction price is allocated to each performance obligation based on the relative stand-alone selling price. The following table presents the disaggregation of revenues by product type and geography: Three Months Ended Six Months Ended June 29, June 30, June 29, June 30, (In thousands) 2019 2018 2019 2018 Revenues by Product Type: Parts and Consumables $ 111,917 $ 94,857 $ 224,767 $ 190,842 Capital 65,248 60,056 123,714 113,264 $ 177,165 $ 154,913 $ 348,481 $ 304,106 Revenues by Geography: North America $ 98,667 $ 75,375 199,543 152,991 Europe 43,813 45,032 82,798 86,525 Asia 23,696 25,502 40,774 45,650 Rest of World 10,989 9,004 25,366 18,940 $ 177,165 $ 154,913 $ 348,481 $ 304,106 See Note 12 , Business Segment Information, for further details on the disaggregation of revenues by segment and product line. The following table presents balances from contracts with customers: June 29, December 29, (In thousands) Accounts receivable $ 106,202 $ 92,624 Contract assets $ 13,728 $ 15,741 Contract liabilities $ 41,239 $ 34,774 Contract assets represent unbilled revenues associated with revenue recognized on contracts accounted for on an over time basis, which will be billed in future periods based on the contract terms. Contract liabilities consist of customer deposits, advanced billings, and deferred revenue. Deferred revenue is included in other current liabilities in the accompanying condensed consolidated balance sheet. Contract liabilities will be recognized as revenue in future periods once the revenue recognition criteria are met. The majority of the contract liabilities relate to advanced payments on contracts accounted for at a point in time. These advance payments will be recognized as revenue when the Company's performance obligations have been satisfied, which typically occurs when the product has shipped and control of the asset has transferred to the customer. The Company recognized revenue of $4,427,000 in the second quarter of 2019 , $ 2,788,000 in the second quarter of 2018 , $ 23,522,000 in the first six months of 2019 and $ 30,113,000 in the first six months of 2018 that was included in the contract liabilities balance at the beginning of 2019 and 2018 for the respective periods. Customers in China will often settle their accounts receivable with a banker's acceptance draft, in which case cash settlement will be delayed until the banker's acceptance draft matures or is settled prior to maturity. For customers outside of China, final payment for the majority of the Company's products is received in the quarter following the product shipment. Certain of the Company's contracts include a longer period before final payment is due, which is typically within one year of final shipment or transfer of control to the customer. Recently Adopted Accounting Pronouncements Leases (Topic 842) . In February 2016, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) No. 2016-02, which requires a lessee to recognize a right-of-use (ROU) asset and a corresponding lease liability for operating leases, initially measured at the present value of the future lease payments, on its balance sheet. This ASU also requires a lessee to recognize a single lease cost, calculated so that the cost of the lease is allocated over the lease term, generally on a straight-line basis. The Company adopted this ASU as of the beginning of fiscal 2019 using the cumulative-effect adjustment method. As a result, prior period amounts were not restated and continue to be accounted for under Topic 840, Leases , which did not require the recognition of operating leases on the balance sheet and is not comparative. As permitted under ASC 842, the Company elected the package of practical expedients for expired or existing contracts, which does not require the reassessment of prior conclusions about lease identification, lease classification and initial direct costs. The Company also elected practical expedients relating to its ongoing accounting, including a short-term lease recognition exemption allowing lessees not to recognize ROU assets and liabilities with a term of 12 months or less and an election not to separate lease and non-lease components for all leases except vehicle leases. The adoption of this standard as of the beginning of fiscal 2019 resulted in increases of 2.3% to total assets and 4.8% to total liabilities and an immaterial decrease to retained earnings. In addition, the adoption of this ASU did not have a material impact on the Company’s condensed consolidated statements of income or cash flows. See Note 8 , Leases , for required lease accounting disclosures. Derivatives and Hedging (Topic 815), Targeted Improvements in Accounting for Hedging Activity. In August 2017, the FASB issued ASU No. 2017-12, which revises hedge accounting to better portray the economic results of an entity’s risk management activities, simplifies hedge accounting guidance, and improves disclosures of hedge accounting arrangements. The Company adopted this ASU on a prospective basis at the beginning of fiscal 2019. The adoption of this ASU did not have an impact on the Company's condensed consolidated financial statements. Recent Accounting Pronouncements Not Yet Adopted Financial Instruments - Credit Losses (Topic 326), Measurement of Credit Losses on Financial Instruments. In June 2016, the FASB issued ASU No. 2016-13, which significantly changes the way entities recognize impairment of many financial assets by requiring immediate recognition of estimated credit losses expected to occur over their remaining lives. This new guidance is effective for the Company in fiscal 2020 with early adoption permitted beginning in fiscal 2019. The Company is currently evaluating the effects that the adoption of this ASU will have on its condensed consolidated financial statements. Compensation-Retirement Benefits - Defined Benefit Plans - General (Subtopic 715-20), Disclosure Framework - Changes to the Disclosure Requirements for Defined Benefit Plans. In August 2018, the FASB issued ASU 2018-14, which removes, adds and clarifies several disclosure requirements for employers that sponsor defined benefit pension or other postretirement plans. This new guidance is effective on a retrospective basis for the Company in fiscal 2021. Early adoption is permitted. The Company does not believe that the adoption of this ASU will have a material effect on its condensed consolidated financial statements.

Acquisition

Acquisition	6 Months Ended
	Jun. 29, 2019
Business Combinations [Abstract]
Acquisition	Acquisition The Company’s acquisitions have been accounted for using the purchase method of accounting and the results of the acquired businesses are included in its condensed consolidated financial statements from the date of acquisition. Historically, the Company’s acquisitions have been made at prices above the fair value of identifiable net assets, resulting in goodwill. Acquisition transaction costs are included in selling, general, and administrative expenses (SG&A) in the accompanying condensed consolidated statement of income as incurred. The Company recorded acquisition transaction costs of $843,000 in the first six months of 2019 relating to its recent acquisition described below. On January 2, 2019, the Company acquired, directly and indirectly, all the outstanding equity interests of Syntron Material Handling Group, LLC and certain of its affiliates (SMH) pursuant to an equity purchase agreement, dated December 9, 2018, for approximately $176,855,000 , net of cash acquired. The Company funded the acquisition through borrowings under its revolving credit facility. SMH, which comprises the Company's new Material Handling Systems segment, has manufacturing operations in Mississippi, United States, and China. SMH is a leading provider of material handling equipment and systems to various process industries, including mining, aggregates, food processing, packaging, and pulp and paper. The Company expects several synergies in connection with this acquisition, including expansion of product sales into new markets by leveraging SMH's existing presence, strengthening of SMH's relationships in the pulp and paper industry, and sourcing efficiencies. Goodwill from the SMH acquisition was $ 80,991,000 , of which $58,000,000 is expected to be deductible for tax purposes over 15 years. In addition, intangible assets acquired were $83,120,000 , of which $ 70,971,000 is expected to be deductible for tax purposes over 15 years. For the six months ended June 29, 2019 , the Company recorded revenues of $ 40,781,000 and an operating loss of $ 865,000 for SMH from the date of acquisition, including amortization expense of $4,831,000 associated with acquired profit in inventory and backlog, and $843,000 of acquisition transaction costs. The following table summarizes the estimated fair values of assets acquired and liabilities assumed and the purchase price for SMH. In the quarter ended June 29, 2019 , the Company made certain adjustments to the purchase price allocation based on revised valuation assumptions, including an adjustment of $ 5,980,000 to increase intangible assets and an adjustment of $ 443,000 to increase long-term deferred income taxes principally due to the tax impact of the increase in intangible assets, resulting in a $5,511,000 decrease in goodwill initially recorded. The effect of these measurement period adjustments would have resulted in an additional $540,000 in selling, general and administrative expenses and $147,000 in cost of revenues in the accompanying condensed consolidated statement of income in the first three months of 2019 if the adjustments to the provisional amounts were recognized as of the acquisition date. The final purchase accounting and purchase price allocation is substantially complete but remains subject to change as the Company continues to refine its valuation of certain acquired assets and the valuation of acquired intangibles. (In thousands) Total Net Assets Acquired: Cash, Cash Equivalents, and Restricted Cash $ 2,431 Accounts Receivable 10,268 Inventory 13,061 Other Current Assets 900 Property, Plant, and Equipment 7,522 Other Assets 11,057 Definite-Lived Intangible Assets Customer relationships 58,300 Product technology 11,000 Other 4,320 Indefinite-Lived Intangible Assets Tradenames 9,500 Goodwill 80,991 Total assets acquired 209,350 Accounts Payable 3,380 Customer Deposits 2,908 Other Current Liabilities 4,975 Long-Term Lease Liabilities 15,244 Long-Term Deferred Income Taxes 3,557 Total liabilities assumed 30,064 Net assets acquired $ 179,286 Purchase Price: Cash Paid to Seller Borrowed Under Revolving Credit Facility $ 179,286 The weighted-average amortization period for definite-lived intangible assets is 14 years, including weighted-average amortization periods of 15 years for customer relationships, 14 years for product technology, and 8 years for other intangible assets. Unaudited Supplemental Pro Forma Information Had the acquisition of SMH been completed as of the beginning of 2018, the Company’s pro forma results of operations for the three- and six -month periods ended June 29, 2019 and June 28, 2018 would have been as follows: Three Months Ended Six Months Ended (In thousands, except per share amounts) June 29, June 30, June 29, June 30, Revenues $ 177,165 $ 176,252 $ 348,481 $ 346,784 Net Income Attributable to Kadant $ 17,236 $ 11,119 $ 31,348 $ 19,594 Earnings per Share Attributable to Kadant: Basic $ 1.54 $ 1.00 $ 2.81 $ 1.77 Diluted $ 1.51 $ 0.98 $ 2.75 $ 1.73 The historical consolidated financial information of the Company and SMH has been adjusted in the pro forma information to give effect to pro forma events that are directly attributable to the acquisition and related financing arrangements, are expected to have a continuing impact on the Company, and are factually supportable. Pro forma results include the following non-recurring pro forma adjustments that were directly attributable to the business combination: • Pre-tax charge to SG&A expenses of $ 843,000 in the six months ended June 30, 2018 and reversal of $843,000 in the six months ended June 29, 2019 , for acquisition transaction costs. • Estimated pre-tax charge to cost of revenues of $1,239,000 in the three months ended June 30, 2018 and $ 3,549,000 in the six months ended June 30, 2018 and reversal of $ 1,239,000 in the three months ended June 29, 2019 and $ 3,549,000 in the six months ended June 29, 2019 , for the sale of inventory revalued at the date of acquisition. • Estimated pre-tax charge to SG&A expenses of $284,000 in the three months ended June 30, 2018 and $ 1,282,000 in the six months ended June 30, 2018 and reversal of $ 284,000 in the three months ended June 29, 2019 and $ 1,282,000 in the six months ended June 29, 2019 , for intangible asset amortization related to acquired backlog. • Estimated tax effects related to the pro forma adjustments. These pro forma results of operations have been prepared for comparative purposes only, and they do not purport to be indicative of the results of operations that would have resulted had the acquisition of SMH occurred as of the beginning of 2018, or that may result in the future.

Earnings per Share

Earnings per Share	6 Months Ended
	Jun. 29, 2019
Earnings Per Share [Abstract]
Earnings per Share	Earnings per Share Basic and diluted earnings per share (EPS) are calculated as follows: Three Months Ended Six Months Ended June 29, June 30, June 29, June 30, (In thousands, except per share amounts) Amounts Attributable to Kadant: Net Income $ 16,304 $ 12,349 $ 27,204 $ 23,207 Basic Weighted Average Shares 11,194 11,092 11,164 11,067 Effect of Stock Options, Restricted Stock Units and Employee Stock Purchase Plan Shares 254 308 252 304 Diluted Weighted Average Shares 11,448 11,400 11,416 11,371 Basic Earnings per Share $ 1.46 $ 1.11 $ 2.44 $ 2.10 Diluted Earnings per Share $ 1.42 $ 1.08 $ 2.38 $ 2.04 The dilutive effect of the outstanding and unvested restricted stock units (RSUs) of the Company's common stock totaling 44,000 shares in the second quarter of 2019 , 34,000 in the second quarter of 2018 , 44,000 in the first six months of 2019 and 32,000 in the first six months of 2018 was not included in the computation of diluted EPS for the respective periods as the effect would have been antidilutive or, for unvested performance-based RSUs, the performance conditions had not been met as of the end of the reporting periods.

Provision for Income Taxes

Provision for Income Taxes	6 Months Ended
	Jun. 29, 2019
Income Tax Disclosure [Abstract]
Provision for Income Taxes	Provision for Income Taxes The provision for income taxes was $ 7,091,000 in the first six months of 2019 and $ 9,132,000 in the first six months of 2018 . The effective tax rate of 21% in the first six months of 2019 was equal to the Company's statutory rate of 21%. Included in the Company’s effective tax rate of 21% was a net discrete tax benefit associated with foreign exchange losses and tax costs recognized upon the Company's planned repatriation of certain previously taxed foreign earnings and a tax benefit related to the net excess income tax benefits from stock-based compensation arrangements. These tax benefits were offset by increases in tax primarily related to nondeductible expenses, the distribution of the Company’s worldwide earnings, tax expense associated with the Global Intangible Low-Taxed Income (GILTI) provisions of the Tax Cuts and Jobs Act of 2017 (2017 Tax Act), and state taxes. The effective tax rate of 28% in the first six

Long-Term Obligations

Long-Term Obligations	6 Months Ended
	Jun. 29, 2019
Debt Disclosure [Abstract]
Long-Term Obligations	Long-Term Obligations Long-term obligations are as follows: June 29, December 29, (In thousands) Revolving Credit Facility, due 2023 $ 310,354 $ 141,106 Commercial Real Estate Loan, due 2019 to 2028 19,950 20,475 Senior Promissory Notes, due 2023 to 2028 10,000 10,000 Finance Leases, due 2019 to 2023 2,470 — Other Borrowings, due 2019 to 2023 4,153 4,388 Unamortized Debt Issuance Costs (138 ) (148 ) Total 346,789 175,821 Less: Current Maturities of Long-Term Obligations (2,798 ) (1,668 ) Long-Term Obligations $ 343,991 $ 174,153 See Note 11 for the fair value information related to the Company's long-term obligations. Revolving Credit Facility In 2018, the Company entered into a second amendment (Second Amendment) to its existing amended and restated five -year, unsecured multi-currency revolving credit facility, dated as of March 1, 2017 (as amended, the Credit Agreement). Pursuant to the Second Amendment, the Company has a borrowing capacity of $400,000,000 , with an uncommitted unsecured incremental borrowing facility of $150,000,000 under its Credit Agreement, and a maturity date of December 14, 2023. Interest on borrowings outstanding accrues and generally is payable quarterly in arrears at one of the following rates selected by the Company: (i) the Base Rate, plus an applicable margin of 0% to 1.25% , or (ii) the LIBOR rate (with a zero percent floor), as defined, plus an applicable margin of 1% to 2.25% . The Base Rate is calculated as the highest of (a) the federal funds rate plus 0.50% , (b) the prime rate as published by Citizens Bank, N.A., and (c) the thirty-day USD London Inter-Bank Offered Rate (LIBOR) rate, as defined, plus 0.50% . The applicable margin is determined based upon the ratio of the Company's total debt, net of unrestricted cash up to $30,000,000 and certain debt obligations, to earnings before interest, taxes, depreciation, and amortization (EBITDA) as defined in the Credit Agreement. The obligations of the Company under the Credit Agreement may be accelerated upon the occurrence of an event of default, which includes customary events of default under such financing arrangements. In addition, as amended by the Second Amendment, the Credit Agreement contains negative covenants applicable to the Company and its subsidiaries, including financial covenants requiring the Company to maintain a maximum consolidated leverage ratio of 3.75 to 1.00, or for the quarter during which a material acquisition occurs and for the three fiscal quarters thereafter, 4.00 to 1.00, and limitations on making certain restricted payments (including dividends and stock repurchases). Loans under the Credit Agreement are guaranteed by certain domestic subsidiaries of the Company. In addition, one of the Company’s foreign subsidiaries entered into a separate guarantee agreement limited to certain obligations of two foreign subsidiary borrowers. As of June 29, 2019 , the outstanding balance under the Credit Agreement was $310,354,000 , and included $35,288,000 of Canadian dollar-denominated borrowings and $16,066,000 of euro-denominated borrowings. As of June 29, 2019 , the Company had $89,772,000 of borrowing capacity available under its Credit Agreement, which was calculated by translating its foreign-denominated borrowings using borrowing date foreign exchange rates. See Note 10 , Derivatives, under the heading Interest Rate Swap Agreements , for information relating to the swap agreements used to hedge the Company’s exposure to movements in the three-month LIBOR rate on its U.S. dollar-denominated debt borrowed under the Credit Agreement. The weighted average interest rate for the outstanding balance under the Credit Agreement was 3.80% as of June 29, 2019 . Commercial Real Estate Loan In 2018, the Company and certain domestic subsidiaries borrowed $21,000,000 under a promissory note (Real Estate Loan) which is repayable in quarterly principal installments of $262,500 over a ten -year period with the remaining principal balance of $10,500,000 due upon maturity. Interest accrues and is payable quarterly in arrears at a fixed rate of 4.45% per annum. Any voluntary prepayments are subject to a 2% prepayment fee if paid in the twelve months following July 6, 2019 and are subject to a 1% prepayment fee if paid in the twelve months following July 6, 2020. Thereafter, no prepayment fee will be applied to voluntary prepayment by the Company. The Real Estate Loan is secured by real estate and related personal property of the Company and certain of its domestic subsidiaries, pursuant to the mortgage and security agreements dated July 6, 2018 (Mortgage and Security Agreements). The obligations of the Company under the Real Estate Loan may be accelerated upon the occurrence of an event of default under the Real Estate Loan and the Mortgage and Security Agreements, which includes customary events of default for financings of this type. In addition, a default under the Credit Agreement or any successor credit facility would be an event of default under the Real Estate Loan. The effective interest rate for the Real Estate Loan, including amortization of debt issuance costs, was 4.60 % as of June 29, 2019 . Senior Promissory Notes In 2018, the Company entered into an uncommitted, unsecured Multi-Currency Note Purchase and Private Shelf Agreement (Note Purchase Agreement). Simultaneous with the execution of the Note Purchase Agreement, the Company issued senior promissory notes (Initial Notes) in an aggregate principal amount of $10,000,000 , with a per annum interest rate of 4.90% payable semiannually, and a maturity date of December 14, 2028. The Company is required to prepay a portion of the principal of the Initial Notes beginning on December 14, 2023 and each year thereafter, and may optionally prepay the principal on the Initial Notes, together with any prepayment premium, at any time (in a minimum amount of $1,000,000 , or the foreign currency equivalent thereof, if applicable) in accordance with the Note Purchase Agreement. The obligations of the Initial Notes may be accelerated upon an event of default as defined in the Note Purchase Agreement, which includes customary events of default under such financing arrangements. In accordance with the Note Purchase Agreement, the Company may also issue additional senior promissory notes (together with the Initial Notes, the Senior Promissory Notes) up to an additional $115,000,000 until the earlier of December 14, 2021 or the thirtieth day after written notice to terminate the issuance and sale of additional notes pursuant to the Note Purchase Agreement. The Senior Promissory Notes are pari passu with the Company’s indebtedness under the Credit Agreement, and any other senior debt of the Company, subject to certain specified exceptions, and participate in a sharing agreement with respect to the obligations of the Company and its subsidiaries under the Credit Agreement. The Senior Promissory Notes are guaranteed by certain of the Company’s domestic subsidiaries. Debt Compliance As of June 29, 2019 , the Company was in compliance with the covenants related to its debt obligations. Finance Leases The Company's finance leases primarily relate to contracts for its vehicles. See Note 8 for further information relating to the Company's finance leases. Other Borrowings Other borrowings include a sale-leaseback financing arrangement for a manufacturing facility in Germany. Under this arrangement, the quarterly lease payment includes principal, interest, and a payment to the landlord toward a loan receivable. The interest rate on the outstanding obligation is 1.79% . The secured loan receivable, which is included in other assets in the accompanying condensed consolidated balance sheet, was $804,000 at June 29, 2019 . The lease arrangement provides for a fixed price purchase option, net of the projected loan receivable, of $1,513,000 at the end of the lease term in 2022 . If the Company does not exercise the purchase option for the facility, the Company will receive cash from the landlord to settle the loan receivable. As of June 29, 2019 , $3,930,000

Stock-Based Compensation

Stock-Based Compensation	6 Months Ended
	Jun. 29, 2019
Share-based Payment Arrangement [Abstract]
Stock-Based Compensation	Stock-Based Compensation The Company recognized stock-based compensation expense of $1,914,000 in the second quarter of 2019 , $2,146,000 in the second quarter of 2018 , $ 3,467,000 in the first six months of 2019, and $ 3,610,000 in the first six months of 2018 within SG&A expenses in the accompanying condensed consolidated statement of income. The Company recognizes compensation expense for all stock-based awards granted to employees and directors based on the grant date estimate of fair value for those awards. The fair value of RSUs is based on the grant date price of the Company's common stock, reduced by the present value of estimated dividends foregone during the requisite service period. For time-based RSUs, compensation expense is recognized ratably over the requisite service period for the entire award based on the grant date fair value, and net of actual forfeitures recorded when they occur. For performance-based RSUs, compensation expense is recognized ratably over the requisite service period for each separately-vesting portion of the award based on the grant date fair value, net of actual forfeitures recorded when they occur, and remeasured each reporting period until the total number of RSUs to be issued is known. Unrecognized compensation expense related to stock-based compensation totaled approximately $8,187,000 at June 29, 2019 , and will be recognized over a weighted average period of 1.8 years. On May 16, 2019, the Company granted 7,432 RSUs in the aggregate to its incumbent non-employee directors with a grant date fair value of $ 656,000 . Half of these RSUs vested on June 1, 2019 and the remaining RSUs will vest ratably on the last day of the third and fourth fiscal quarters of 2019.

Retirement Benefit Plans

Retirement Benefit Plans	6 Months Ended
	Jun. 29, 2019
Retirement Benefits [Abstract]
Retirement Benefit Plans	Retirement Benefit Plans The Company includes the service cost of net periodic benefit cost in operating income and all other components are included in other expense, net in the accompanying condensed consolidated statement of income. The components of net periodic benefit cost are as follows: Three Months Ended Three Months Ended (In thousands, except percentages) U.S. Pension Non-U.S. Pension Other Post-Retirement U.S. Pension Non-U.S. Pension Other Post-Retirement Service Cost $ — $ 43 $ 1 $ 175 $ 35 $ 53 Interest Cost 284 28 37 298 30 43 Expected Return on Plan Assets (248 ) (17 ) (1 ) (322 ) (11 ) (1 ) Recognized Net Actuarial Loss 8 5 3 135 15 34 Amortization of Prior Service Cost — — — — 2 22 $ 44 $ 59 $ 40 $ 286 $ 71 $ 151 The weighted average assumptions used to determine net periodic benefit cost are as follows: Discount Rate 4.10 % 2.81 % 4.44 % 3.51 % 3.80 % 3.64 % Expected Long-Term Return on Plan Assets 4.10 % 9.22 % 9.22 % 4.50 % 7.43 % 7.43 % Rate of Compensation Increase — % 2.99 % 5.57 % 3.00 % 3.69 % 3.07 % Six Months Ended Six Months Ended (In thousands, except percentages) U.S. Pension Non-U.S. Pension Other Post-Retirement U.S. Pension Non-U.S. Pension Other Post-Retirement Service Cost $ — $ 86 $ 2 $ 350 $ 71 $ 106 Interest Cost 567 57 75 596 60 86 Expected Return on Plan Assets (497 ) (34 ) (2 ) (644 ) (22 ) (2 ) Recognized Net Actuarial Loss 16 10 6 270 31 68 Amortization of Prior Service Cost — — — — 4 44 $ 86 $ 119 $ 81 $ 572 $ 144 $ 302 The weighted average assumptions used to determine net periodic benefit cost are as follows: Discount Rate 4.10 % 2.81 % 4.44 % 3.51 % 3.80 % 3.64 % Expected Long-Term Return on Plan Assets 4.10 % 9.22 % 9.22 % 4.50 % 7.43 % 7.43 % Rate of Compensation Increase — % 2.99 % 5.57 % 3.00 % 3.69 % 3.07 % In 2018, the Company's board of directors and its compensation committee approved amendments to freeze and terminate the Company's U.S. pension plan (Retirement Plan) and its restoration plan (Restoration Plan) as of December 29, 2018. Procedures for plan settlement and distribution of the Retirement Plan assets will be initiated once the plan termination satisfies certain regulatory requirements, which is expected to occur in late 2019 or early 2020. At the settlement date, the Company will recognize a loss based on the difference between the unrecognized actuarial loss, unfunded benefit obligation, and any additional cash required to be paid. Participants in the Retirement Plan will have the option to receive either a lump sum payment or an annuity. Retirees will continue to receive payments pursuant to their current annuity elections. The Company will settle liabilities under the Restoration Plan by paying a lump sum to plan participants between twelve and twenty-four months following the termination date. The Company expects to settle the liabilities under the Restoration Plan in early 2020. The Company has included both the Retirement Plan liability of $ 1,055,000 and the Restoration Plan liability of $2,324,000 at June 29, 2019 in accrued payroll and employee benefits in the accompanying condensed consolidated balance sheet. The Company does not plan to make any material cash contributions to its other pension and post-retirement plans in 2019.

Leases

Leases	6 Months Ended
	Jun. 29, 2019
Leases [Abstract]
Leases	Leases Under ASC 842, Leases , the Company determines if an arrangement is a lease obligation at inception of the contract. The Company enters into operating and finance lease commitments primarily for its manufacturing and office space, vehicles, and equipment leases that expire on various dates over the next 15 years, some of which include one or more options to extend the lease for up to 5 years. In addition, the Company leases land associated with certain of its buildings in Canada and China, under long-term leases expiring on various dates ranging from 2032 to 2062, one of which includes an assumed option to extend the lease for up to 10 years. The Company's operating lease ROU assets and corresponding lease liabilities with contract terms greater than 12 months are recognized based on the present value of the future minimum lease payments over the lease term at the commencement date. In determining the present value of future lease payments, the Company utilizes either the rate implicit in the lease if that rate is readily determinable or the Company’s incremental secured borrowing rate commensurate with the term of the underlying lease. In addition, the calculation may include options to extend or terminate the lease when it is reasonably certain that the Company will exercise that option. The Company recognizes its operating lease expense for lease payments on a straight-line basis over the lease term. Variable lease costs are not included in fixed lease payments and, as a result, are excluded from the measurement of the ROU assets and lease liabilities. The Company expenses all variable lease costs as incurred, which were not material for the six months ended June 29, 2019 . The Company's lease agreements often contain lease and non-lease components. For real estate and equipment leases, the Company accounts for the lease and non-lease components as a single lease component. For vehicle leases, the Company does not combine lease and non-lease components. The components of lease expense are as follows: Three Months Ended Six Months Ended (In thousands) June 29, 2019 June 29, 2019 Operating Lease Cost $ 1,381 $ 2,751 Short-Term Lease Cost 179 364 Finance Lease Cost: ROU asset amortization 305 598 Interest on lease liabilities 25 44 Total Finance Lease Cost 330 642 Total Lease Costs $ 1,890 $ 3,757 Supplemental cash flow information related to leases is as follows: Six Months Ended (In thousands) June 29, 2019 Cash Paid for Amounts Included in the Measurement of Lease Liabilities: Operating cash flows from operating leases $ 2,789 Operating cash flows from finance leases $ 44 Financing cash flows from finance leases $ 564 ROU Assets Obtained in Exchange for Lease Obligations (a): Operating leases $ 27,428 Finance leases $ 3,050 (a) Includes additions related to the transition adjustment for the adoption of ASC 842. The post-adoption additions of operating leases were $12,110,000 , of which $10,994,000 related to ROU assets obtained as part of our acquisition of SMH. The post-adoption additions of finance leases were $ 1,699,000 , of which $ 528,000 related to ROU assets obtained as part of our acquisition of SMH. Supplemental balance sheet information related to leases is as follows: (In thousands, except lease term and discount rate) Balance Sheet Line Item June 29, 2019 Operating Leases: ROU assets Other assets $ 28,565 Short-term liabilities Other current liabilities $ 4,183 Long-term liabilities Other long-term liabilities 25,866 Total operating lease liabilities $ 30,049 Finance Leases: ROU assets, at cost Property, plant, and equipment, at cost $ 3,886 ROU assets accumulated amortization Less: accumulated depreciation and amortization (1,329 ) ROU assets, net Property, plant, and equipment, net $ 2,557 Short-term obligations Current maturities of long-term obligations $ 1,149 Long-term obligations Long-term obligations 1,321 Total finance lease liabilities $ 2,470 Weighted Average Remaining Lease Term: Operating leases 10.5 Finance leases 2.4 Weighted Average Discount Rate: Operating leases 3.95 % Finance leases 4.18 % As of June 29, 2019 , future lease payments for lease liabilities are as follows: Operating Finance (In thousands) Leases Leases 2019 $ 2,732 $ 651 2020 4,979 1,089 2021 4,178 641 2022 3,464 171 2023 3,081 43 Thereafter 18,681 — Total Future Lease Payments 37,115 2,595 Less: Imputed Interest (7,066 ) (125 ) Present Value of Lease Payments $ 30,049 $ 2,470 As of June 29, 2019 , the Company had no significant operating and finance leases that had not yet commenced. As previously disclosed in the Company's 2018 Annual Report on Form 10-K for the fiscal year ended December 29, 2018 and under the previous lease accounting standard, future minimum lease payments for noncancelable operating leases were as follows: (In thousands) December 29, 2019 $ 4,507 2020 3,275 2021 2,230 2022 1,579 2023 987 Thereafter 1,713 Total Future Minimum Lease Payments $ 14,291
Leases	Leases Under ASC 842, Leases , the Company determines if an arrangement is a lease obligation at inception of the contract. The Company enters into operating and finance lease commitments primarily for its manufacturing and office space, vehicles, and equipment leases that expire on various dates over the next 15 years, some of which include one or more options to extend the lease for up to 5 years. In addition, the Company leases land associated with certain of its buildings in Canada and China, under long-term leases expiring on various dates ranging from 2032 to 2062, one of which includes an assumed option to extend the lease for up to 10 years. The Company's operating lease ROU assets and corresponding lease liabilities with contract terms greater than 12 months are recognized based on the present value of the future minimum lease payments over the lease term at the commencement date. In determining the present value of future lease payments, the Company utilizes either the rate implicit in the lease if that rate is readily determinable or the Company’s incremental secured borrowing rate commensurate with the term of the underlying lease. In addition, the calculation may include options to extend or terminate the lease when it is reasonably certain that the Company will exercise that option. The Company recognizes its operating lease expense for lease payments on a straight-line basis over the lease term. Variable lease costs are not included in fixed lease payments and, as a result, are excluded from the measurement of the ROU assets and lease liabilities. The Company expenses all variable lease costs as incurred, which were not material for the six months ended June 29, 2019 . The Company's lease agreements often contain lease and non-lease components. For real estate and equipment leases, the Company accounts for the lease and non-lease components as a single lease component. For vehicle leases, the Company does not combine lease and non-lease components. The components of lease expense are as follows: Three Months Ended Six Months Ended (In thousands) June 29, 2019 June 29, 2019 Operating Lease Cost $ 1,381 $ 2,751 Short-Term Lease Cost 179 364 Finance Lease Cost: ROU asset amortization 305 598 Interest on lease liabilities 25 44 Total Finance Lease Cost 330 642 Total Lease Costs $ 1,890 $ 3,757 Supplemental cash flow information related to leases is as follows: Six Months Ended (In thousands) June 29, 2019 Cash Paid for Amounts Included in the Measurement of Lease Liabilities: Operating cash flows from operating leases $ 2,789 Operating cash flows from finance leases $ 44 Financing cash flows from finance leases $ 564 ROU Assets Obtained in Exchange for Lease Obligations (a): Operating leases $ 27,428 Finance leases $ 3,050 (a) Includes additions related to the transition adjustment for the adoption of ASC 842. The post-adoption additions of operating leases were $12,110,000 , of which $10,994,000 related to ROU assets obtained as part of our acquisition of SMH. The post-adoption additions of finance leases were $ 1,699,000 , of which $ 528,000 related to ROU assets obtained as part of our acquisition of SMH. Supplemental balance sheet information related to leases is as follows: (In thousands, except lease term and discount rate) Balance Sheet Line Item June 29, 2019 Operating Leases: ROU assets Other assets $ 28,565 Short-term liabilities Other current liabilities $ 4,183 Long-term liabilities Other long-term liabilities 25,866 Total operating lease liabilities $ 30,049 Finance Leases: ROU assets, at cost Property, plant, and equipment, at cost $ 3,886 ROU assets accumulated amortization Less: accumulated depreciation and amortization (1,329 ) ROU assets, net Property, plant, and equipment, net $ 2,557 Short-term obligations Current maturities of long-term obligations $ 1,149 Long-term obligations Long-term obligations 1,321 Total finance lease liabilities $ 2,470 Weighted Average Remaining Lease Term: Operating leases 10.5 Finance leases 2.4 Weighted Average Discount Rate: Operating leases 3.95 % Finance leases 4.18 % As of June 29, 2019 , future lease payments for lease liabilities are as follows: Operating Finance (In thousands) Leases Leases 2019 $ 2,732 $ 651 2020 4,979 1,089 2021 4,178 641 2022 3,464 171 2023 3,081 43 Thereafter 18,681 — Total Future Lease Payments 37,115 2,595 Less: Imputed Interest (7,066 ) (125 ) Present Value of Lease Payments $ 30,049 $ 2,470 As of June 29, 2019 , the Company had no significant operating and finance leases that had not yet commenced. As previously disclosed in the Company's 2018 Annual Report on Form 10-K for the fiscal year ended December 29, 2018 and under the previous lease accounting standard, future minimum lease payments for noncancelable operating leases were as follows: (In thousands) December 29, 2019 $ 4,507 2020 3,275 2021 2,230 2022 1,579 2023 987 Thereafter 1,713 Total Future Minimum Lease Payments $ 14,291

Accumulated Other Comprehensive

Accumulated Other Comprehensive Items	6 Months Ended
	Jun. 29, 2019
Equity [Abstract]
Accumulated Other Comprehensive Items	Comprehensive income (loss) combines net income and other comprehensive items, which represent certain amounts that are reported as components of stockholders' equity in the accompanying condensed consolidated balance sheet. Changes in each component of accumulated other comprehensive items (AOCI), net of tax, are as follows: (In thousands) Foreign Currency Translation Adjustment Pension and Other Post-Retirement Benefit Liability Adjustments Deferred Loss on Cash Flow Hedges Total Balance at December 29, 2018 $ (34,804 ) $ (4,375 ) $ (197 ) $ (39,376 ) Other comprehensive income (loss) before reclassifications 1,498 4 (470 ) 1,032 Reclassifications from AOCI — 24 69 93 Net current period other comprehensive income (loss) 1,498 28 (401 ) 1,125 Balance at June 29, 2019 $ (33,306 ) $ (4,347 ) $ (598 ) $ (38,251 ) Amounts reclassified from AOCI are as follows: Three Months Ended Six Months Ended (In thousands) June 29, June 30, June 29, June 30, Statement of Income Line Item Retirement Benefit Plans (a) Amortization of net actuarial loss $ (16 ) $ (184 ) $ (32 ) $ (369 ) Other expense, net Amortization of prior service cost — (24 ) — (48 ) Other expense, net Total expense before income taxes (16 ) (208 ) (32 ) (417 ) Income tax benefit 4 51 8 103 Provision for income taxes (12 ) (157 ) (24 ) (314 ) Cash Flow Hedges (b) Interest rate swap agreements 7 (17 ) 27 (22 ) Interest expense Forward currency-exchange contracts (129 ) 24 (129 ) 24 Cost of revenues Total (expense) income before income taxes (122 ) 7 (102 ) 2 Income tax benefit (provision) 38 (2 ) 33 (1 ) Provision for income taxes (84 ) 5 (69 ) 1 Total Reclassifications $ (96 ) $ (152 ) $ (93 ) $ (313 ) (a) Included in the computation of net periodic benefit cost. See Note 7 for additional information. (b) See Note 10 for additional information.

Derivatives

Derivatives	6 Months Ended
	Jun. 29, 2019
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivatives	Derivatives The Company uses derivative instruments primarily to reduce its exposure to changes in currency exchange rates and interest rates. At the inception of a derivative contract, the Company determines whether the transaction is deemed a hedge. If deemed a hedge, the Company documents the relationship between the derivative instrument and the risk being hedged. In this documentation, the Company identifies the hedged item and evaluates whether the derivative instrument is expected to reduce the risks associated with such item in order to qualify for hedge accounting. The Company believes that any credit risk associated with its derivative instruments is remote based on the creditworthiness of the financial institutions issuing those agreements. The Company does not hold or engage in transactions involving derivative instruments for purposes other than risk management. Interest Rate Swap Agreements In 2018, the Company entered into an interest rate swap agreement (2018 Swap Agreement) which has a $ 15,000,000 notional value and expires on June 30, 2023 . In 2015, the Company also entered into an interest rate swap agreement (2015 Swap Agreement) which has a $10,000,000 notional value and expires on March 27, 2020. The swap agreements hedge the Company’s exposure to movements in the three-month LIBOR rate on U.S. dollar-denominated debt. On a quarterly basis, the Company receives a three-month LIBOR rate and pays a fixed rate of interest of 3.15% plus an applicable margin as defined in the Credit Agreement on the 2018 Swap Agreement and 1.50% plus an applicable margin as defined in the Credit Agreement on the 2015 Swap Agreement. The 2018 Swap Agreement is subject to a zero percent floor on the three-month LIBOR rate. The interest rate swap agreements are designated as cash flow hedges and the Company has structured its interest rate swap agreements to be 100% effective. The fair values of the interest rate swap agreements represent the estimated amounts the Company would receive from or pay to the counterparty in the event of early termination. Unrealized gains and losses related to the fair values of the swap agreements are recorded to AOCI, net of tax. The counterparty to the interest rate swap agreements could demand an early termination of those agreements if the Company were to be in default under the Credit Agreement, or any agreement that amends or replaces the Credit Agreement in which the counterparty is a member, and if the Company were to be unable to cure the default (See Note 5 ). Forward Currency-Exchange Contracts The Company uses forward currency-exchange contracts that typically have maturities of twelve months or less to hedge exposures resulting from fluctuations in currency exchange rates. Such exposures result from assets and liabilities that are denominated in currencies other than functional currencies. Forward currency-exchange contracts that hedge forecasted accounts receivable or accounts payable are designated as cash flow hedges and unrecognized gains and losses are recorded to AOCI, net of tax. Deferred gains and losses are recognized in the statement of income in the period in which the underlying transaction occurs. The fair values of forward currency-exchange contracts that are designated as fair value hedges and forward currency-exchange contracts that are not designated as hedges are recognized currently in earnings. The Company recognized within SG&A expenses in the accompanying condensed consolidated statement of income gains of $ 5,000 in the second quarter of 2019 , gains of $ 14,000 in the second quarter of 2018 , losses of $ 32,000 in the first six months of 2019 , and gains of $ 27,000 in the first six months of 2018 associated with forward currency-exchange contracts that were not designated as hedges. The following table summarizes the fair value of the Company's derivative instruments in the accompanying condensed consolidated balance sheet: June 29, 2019 December 29, 2018 Balance Sheet Location Asset (Liability) (a) Notional Amount (b) Asset (Liability) (a) Notional Amount (In thousands) Derivatives Designated as Hedging Instruments: Derivatives in an Asset Position: 2015 Swap Agreement Other Current Assets $ 42 $ 10,000 $ — $ — 2015 Swap Agreement Other Long-Term Assets $ — $ — $ 148 $ 10,000 Forward currency-exchange contract Other Current Assets $ 11 $ 1,134 $ — $ — Forward currency-exchange contract Other Long-Term Assets $ — $ — $ 11 $ 842 Derivatives in a Liability Position: Forward currency-exchange contract Other Current Liabilities $ (13 ) $ 842 $ (50 ) $ 2,946 2018 Swap Agreement Other Long-Term Liabilities $ (829 ) $ 15,000 $ (352 ) $ 15,000 Derivatives Not Designated as Hedging Instruments: Derivatives in an Asset Position: Forward currency-exchange contracts Other Current Assets $ — $ 39 $ 9 $ 1,192 Derivatives in a Liability Position: Forward currency-exchange contracts Other Current Liabilities $ (19 ) $ 1,190 $ (31 ) $ 1,384 (a) See Note 11 for the fair value measurements relating to these financial instruments. (b) The total 2019 notional amounts are indicative of the level of the Company's recurring derivative activity. The following table summarizes the activity in AOCI associated with the Company's derivative instruments designated as cash flow hedges as of and for the six months ended June 29, 2019 : (In thousands) Interest Rate Swap Agreements Forward Currency- Exchange Contracts Total Unrealized Loss, Net of Tax, at December 29, 2018 $ (170 ) $ (27 ) $ (197 ) (Gain) loss reclassified to earnings (a) (20 ) 89 69 Loss recognized in AOCI (407 ) (63 ) (470 ) Unrealized Loss, Net of Tax, at June 29, 2019 $ (597 ) $ (1 ) $ (598 ) (a) See Note 9 for the income statement classification. As of June 29, 2019 , the Company expects to reclassify losses of $ 102,000 from AOCI to earnings over the next twelve months based on the estimated cash flows of the interest rate swap agreements and the maturity dates of the forward currency-exchange contracts.

Fair Value Measurements and Fai

Fair Value Measurements and Fair Value of Financial Instruments	6 Months Ended
	Jun. 29, 2019
Fair Value Disclosures [Abstract]
Fair Value Measurements and Fair Value of Financial Instruments	Fair Value Measurements and Fair Value of Financial Instruments Fair value measurement is defined as the price that would be received to sell an asset or paid to transfer a liability in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants at the measurement date. A fair value hierarchy is established, which prioritizes the inputs used in measuring fair value into three broad levels as follows: • Level 1—Quoted prices in active markets for identical assets or liabilities. • Level 2—Inputs, other than quoted prices in active markets, that are observable either directly or indirectly. • Level 3—Unobservable inputs based on the Company's own assumptions. The following table presents the fair value hierarchy for those assets and liabilities measured at fair value on a recurring basis: (In thousands) Level 1 Level 2 Level 3 Total June 29, 2019 Assets: Money market funds and time deposits $ 5,006 $ — $ — $ 5,006 Banker's acceptance drafts (a) $ — $ 7,706 $ — $ 7,706 2015 Swap Agreement $ — $ 42 $ — $ 42 Forward currency-exchange contract $ — $ 11 $ — $ 11 Liabilities: 2018 Swap Agreement $ — $ 829 $ — $ 829 Forward currency-exchange contracts $ — $ 32 $ — $ 32 December 29, 2018 Assets: Money market funds and time deposits $ 6,902 $ — $ — $ 6,902 Banker's acceptance drafts (a) $ — $ 7,976 $ — $ 7,976 2015 Swap Agreement $ — $ 148 $ — $ 148 Forward currency-exchange contracts $ — $ 20 $ — $ 20 Liabilities: 2018 Swap Agreement $ — $ 352 $ — $ 352 Forward currency-exchange contracts $ — $ 81 $ — $ 81 (a) Included in accounts receivable in the accompanying condensed consolidated balance sheet. The Company uses the market approach technique to value its financial assets and liabilities, and there were no changes in valuation techniques during the first six months of 2019 . The Company's banker's acceptance drafts are carried at face value which approximates their fair value due to the short-term nature of the negotiable instrument. The fair values of the Company's forward currency-exchange contracts are based on quoted forward foreign exchange rates at the reporting date. The fair values of the Company's interest rate swap agreements are based on LIBOR yield curves at the reporting date. The forward currency-exchange contracts and interest rate swap agreements are hedges of either recorded assets or liabilities or anticipated transactions and represent the estimated amount the Company would receive or pay upon liquidation of the contracts. Changes in values of the underlying hedged assets and liabilities or anticipated transactions are not reflected in the table above. The carrying value and fair value of the Company's debt obligations, excluding lease obligations and other borrowings, are as follows: June 29, 2019 December 29, 2018 Carrying Value Fair Value Carrying Value Fair Value (In thousands) Debt Obligations: Revolving credit facility $ 310,354 $ 310,354 $ 141,106 $ 141,106 Commercial real estate loan 19,950 20,942 20,475 20,575 Senior promissory notes 10,000 10,617 10,000 10,120 $ 340,304 $ 341,913 $ 171,581 $ 171,801

Business Segment Information

Business Segment Information	6 Months Ended
	Jun. 29, 2019
Segment Reporting [Abstract]
Business Segment Information	Business Segment Information The Company has combined its operating entities into three reportable operating segments, Papermaking Systems, Wood Processing Systems, and Material Handling Systems, and a separate product line, Fiber-based Products, as described below: • Papermaking Systems Segment – The Company develops, manufactures, and markets a range of equipment and products for the global papermaking, paper recycling, recycling and waste management, and other process industries. The Company's Papermaking Systems segment consists of the following product lines: Stock-Preparation; Fluid-Handling; and Doctoring, Cleaning, & Filtration. • Wood Processing Systems Segment – The Company develops, manufactures, and markets stranders, debarkers, chippers, and logging machinery used in the harvesting and production of lumber and OSB. Through this segment, the Company also provides refurbishment and repair of pulping equipment for the pulp and paper industry. • Material Handling Systems Segment – The Company develops, manufactures, and markets material handling equipment and systems to various process industries, including mining, aggregates, food processing, packaging, and pulp and paper. • Fiber-based Products business – The Company manufactures and sells biodegradable, absorbent granules derived from papermaking by-products for use primarily as carriers for agricultural, home lawn and garden, and professional lawn, turf and ornamental applications, as well as for oil and grease absorption. The following table presents financial information for the Company's reportable operating segments: Three Months Ended Six Months Ended June 29, June 30, June 29, June 30, (In thousands) 2019 2018 2019 2018 Revenues: Stock-Preparation $ 50,817 $ 56,376 $ 102,865 $ 101,859 Fluid-Handling 34,713 32,531 67,467 65,417 Doctoring, Cleaning, & Filtration 30,560 29,543 58,950 56,765 Papermaking Systems $ 116,090 $ 118,450 $ 229,282 $ 224,041 Wood Processing Systems 37,869 33,152 71,918 72,293 Material Handling Systems (a) 20,197 — 40,781 — Fiber-based Products 3,009 3,311 6,500 7,772 $ 177,165 $ 154,913 $ 348,481 $ 304,106 Income Before Provision for Income Taxes: Papermaking Systems (b) $ 20,061 $ 20,899 $ 38,570 $ 35,483 Wood Processing Systems (c) 8,801 5,313 16,071 12,676 Material Handling Systems (a, d) 488 — (865 ) — Corporate and Fiber-based Products (e) (6,208 ) (6,477 ) (12,059 ) (11,760 ) Total operating income 23,142 19,735 41,717 36,399 Interest expense, net (f) (3,514 ) (1,728 ) (6,962 ) (3,277 ) Other expense, net (f) (99 ) (245 ) (198 ) (491 ) $ 19,529 $ 17,762 $ 34,557 $ 32,631 Capital Expenditures: Papermaking Systems $ 1,157 $ 3,840 $ 2,514 $ 8,489 Wood Processing Systems 428 1,184 979 1,560 Material Handling Systems (a) 342 — 380 — Corporate and Fiber-based Products 48 36 270 162 $ 1,975 $ 5,060 $ 4,143 $ 10,211 June 29, December 29, (In thousands) 2019 2018 Total Assets: Papermaking Systems $ 487,865 $ 462,297 Wood Processing Systems 253,758 247,553 Material Handling Systems (a) 201,557 — Corporate and Fiber-based Products (g) 22,611 15,899 $ 965,791 $ 725,749 (a) Represents SMH, which was acquired on January 2, 2019 (see Note 2 ). (b) Includes restructuring costs of $ 569,000 in the three-month period ended June 30, 2018 and $ 1,339,000 in the six-month period ended June 30, 2018 (see Note 13 ). (c) Includes acquisition-related expenses of $ 252,000 in the six -month period ended June 30, 2018 for the amortization of acquired backlog. (d) Includes $ 1,523,000 in the three-month period ended June 29, 2019 and $ 5,674,000 in the six -month period ended June 29, 2019 of acquisition-related expenses. Acquisition-related expenses include acquisition transaction costs and amortization expense associated with acquired profit in inventory and backlog. (e) Corporate primarily includes general and administrative expenses. (f) The Company does not allocate interest and other expense, net to its segments. (g) Primarily includes Corporate and Fiber-based Products' cash and cash equivalents, tax assets, ROU assets, and property, plant, and equipment.

Restructuring Costs

Restructuring Costs	6 Months Ended
	Jun. 29, 2019
Restructuring Costs [Abstract]
Restructuring Costs	Restructuring Costs In 2017, the Company constructed a 160,000 square foot manufacturing facility in the United States that integrated its U.S. and Swedish papermaking stock-preparation product lines into a single manufacturing facility to achieve economies of scale and greater efficiencies. As a result of the consolidation and integration of these facilities, the Company developed a restructuring plan totaling $1,920,000 , including $148,000 associated with severance costs for the reduction of four employees in the United States and six employees in Sweden, $ 1,318,000 primarily for relocation costs of machinery, equipment and administrative offices, and $ 454,000 associated with employee retention costs, abandonment of excess facility and other closure costs. The Company does not expect to incur additional charges related to this restructuring plan. As a result of this plan, the Company recorded restructuring charges in its Papermaking Systems segment of $1,339,000 in the first six months of 2018, including $1,018,000 for the relocation of machinery, equipment and administrative offices, $376,000 associated with employee retention and facility closure costs, and a reversal of $55,000 of severance costs no longer required.

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 29, 2019
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Right of Recourse In the ordinary course of business, the Company's subsidiaries in China may receive banker's acceptance drafts from customers as payment for their trade accounts receivable. The drafts are noninterest-bearing obligations of the issuing bank and mature within six months of the origination date. The Company's subsidiaries in China may use these banker's acceptance drafts prior to the scheduled maturity date to settle outstanding accounts payable with vendors. Banker's acceptance drafts transferred to vendors are subject to customary right of recourse provisions prior to their scheduled maturity dates. The Company had $9,169,000 at June 29, 2019 and $12,406,000 at December 29, 2018 of banker's acceptance drafts subject to recourse, which were transferred to vendors but had not reached their scheduled maturity dates. Historically, the banker's acceptance drafts have settled upon maturity without any claim of recourse against the Company. Litigation From time to time, the Company is subject to various claims and legal proceedings covering a range of matters that arise in the ordinary course of business. Such litigation may include, but is not limited to, claims and counterclaims by and against the Company for breach of contract or warranty, canceled contracts, product liability, or bankruptcy-related claims. For legal proceedings in which a loss is probable and estimable, the Company accrues a loss based on the low end of the range of estimated loss when there is no better estimate within the range. If the Company were found to be liable for any of the claims or counterclaims against it, the Company would incur a charge against earnings for amounts in excess of legal accruals.

Nature of Operations and Summ_2

Nature of Operations and Summary of Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 29, 2019
Accounting Policies [Abstract]
Critical Accounting Policies	The preparation of financial statements in conformity with U.S. generally accepted accounting principles (GAAP) requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenues and expenses during the reporting period. Although the Company makes every effort to ensure the accuracy of the estimates and assumptions used in the preparation of its condensed consolidated financial statements or in the application of accounting policies, if business conditions were different, or if the Company were to use different estimates and assumptions, it is possible that materially different amounts could be reported in the Company's condensed consolidated financial statements. Notes 1 and 3 to the consolidated financial statements in the Company's Annual Report on Form 10-K for the fiscal year ended December 29, 2018 describe the significant accounting estimates and policies used in preparation of the consolidated financial statements. There have been no material changes in the Company’s significant accounting policies during the six months ended June 29, 2019 , except for the adoption of Accounting Standards Codification (ASC), Leases (Topic 842) (ASC 842). See Recently Adopted Accounting Pronouncements within this note and Note 8 for further details.
Use of Estimates	Although the Company makes every effort to ensure the accuracy of the estimates and assumptions used in the preparation of its condensed consolidated financial statements or in the application of accounting policies, if business conditions were different, or if the Company were to use different estimates and assumptions, it is possible that materially different amounts could be reported in the Company's condensed consolidated financial statements.
Restricted Cash	The Company's restricted cash serves as collateral for bank guarantees primarily associated with providing assurance to customers that the Company will fulfill certain customer obligations entered into in the normal course of business. The majority of the bank guarantees will expire over the next twelve months
Banker's Acceptance Drafts Included in Accounts Receivable	The Company's Chinese subsidiaries may receive banker's acceptance drafts from customers as payment for their trade accounts receivable. The drafts are noninterest-bearing obligations of the issuing bank and mature within six months of the origination date. The Company's subsidiaries may sell the drafts at a discount to a third-party financial institution or transfer the drafts to vendors in settlement of current accounts payable prior to the scheduled maturity date. These drafts, which totaled $7,706,000 at June 29, 2019 and $7,976,000 at December 29, 2018 , are included in accounts receivable in the accompanying condensed consolidated balance sheet until the subsidiary sells the drafts to a bank and receives a discounted amount, transfers the banker's acceptance drafts in settlement of current accounts payable prior to maturity, or obtains cash payment on the scheduled maturity date.
Revenue Recognition	Contract assets represent unbilled revenues associated with revenue recognized on contracts accounted for on an over time basis, which will be billed in future periods based on the contract terms. Contract liabilities consist of customer deposits, advanced billings, and deferred revenue. Deferred revenue is included in other current liabilities in the accompanying condensed consolidated balance sheet. Contract liabilities will be recognized as revenue in future periods once the revenue recognition criteria are met. The majority of the contract liabilities relate to advanced payments on contracts accounted for at a point in time. These advance payments will be recognized as revenue when the Company's performance obligations have been satisfied, which typically occurs when the product has shipped and control of the asset has transferred to the customer. The Company recognized revenue of $4,427,000 in the second quarter of 2019 , $ 2,788,000 in the second quarter of 2018 , $ 23,522,000 in the first six months of 2019 and $ 30,113,000 in the first six months of 2018 that was included in the contract liabilities balance at the beginning of 2019 and 2018 for the respective periods. Customers in China will often settle their accounts receivable with a banker's acceptance draft, in which case cash settlement will be delayed until the banker's acceptance draft matures or is settled prior to maturity. For customers outside of China, final payment for the majority of the Company's products is received in the quarter following the product shipment. Certain of the Company's contracts include a longer period before final payment is due, which is typically within one year of final shipment or transfer of control to the customer. The Company recognizes revenue under ASC 606, Revenue from Contracts with Customers. Most of the Company’s revenue is recognized at a point in time for each performance obligation under the contract when the customer obtains control of the goods or service. The majority of the Company’s parts and consumables products and capital products with minimal customization are accounted for at a point in time. The Company has made a policy election not to treat the obligation to ship as a separate performance obligation under the contract and, as a result, the associated shipping costs are accrued when revenue is recognized. The remaining portion of the Company’s revenue is recognized on an over time basis based on an input method that compares the costs incurred to date to the total expected costs required to satisfy the performance obligation. Contracts are accounted for on an over time basis when they include products which have no alternative use and an enforceable right to payment over time. Contracts recognized on an over time basis are typically for large capital projects which are highly customized for the customer and, as a result, would include a significant cost to rework in the event of cancellation. The transaction price is typically based on the amount billed to the customer and includes estimated variable consideration where applicable. Such variable consideration relates to certain performance guarantees and rights to return the product. The Company estimates variable consideration as the most likely amount to which it expects to be entitled based on the terms of the contracts with customers and historical experience, where relevant. For contracts with multiple performance obligations, the transaction price is allocated to each performance obligation based on the relative stand-alone selling price.
Recent Accounting Pronouncements	Recently Adopted Accounting Pronouncements Leases (Topic 842) . In February 2016, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) No. 2016-02, which requires a lessee to recognize a right-of-use (ROU) asset and a corresponding lease liability for operating leases, initially measured at the present value of the future lease payments, on its balance sheet. This ASU also requires a lessee to recognize a single lease cost, calculated so that the cost of the lease is allocated over the lease term, generally on a straight-line basis. The Company adopted this ASU as of the beginning of fiscal 2019 using the cumulative-effect adjustment method. As a result, prior period amounts were not restated and continue to be accounted for under Topic 840, Leases , which did not require the recognition of operating leases on the balance sheet and is not comparative. As permitted under ASC 842, the Company elected the package of practical expedients for expired or existing contracts, which does not require the reassessment of prior conclusions about lease identification, lease classification and initial direct costs. The Company also elected practical expedients relating to its ongoing accounting, including a short-term lease recognition exemption allowing lessees not to recognize ROU assets and liabilities with a term of 12 months or less and an election not to separate lease and non-lease components for all leases except vehicle leases. The adoption of this standard as of the beginning of fiscal 2019 resulted in increases of 2.3% to total assets and 4.8% to total liabilities and an immaterial decrease to retained earnings. In addition, the adoption of this ASU did not have a material impact on the Company’s condensed consolidated statements of income or cash flows. See Note 8 , Leases , for required lease accounting disclosures. Derivatives and Hedging (Topic 815), Targeted Improvements in Accounting for Hedging Activity. In August 2017, the FASB issued ASU No. 2017-12, which revises hedge accounting to better portray the economic results of an entity’s risk management activities, simplifies hedge accounting guidance, and improves disclosures of hedge accounting arrangements. The Company adopted this ASU on a prospective basis at the beginning of fiscal 2019. The adoption of this ASU did not have an impact on the Company's condensed consolidated financial statements. Recent Accounting Pronouncements Not Yet Adopted Financial Instruments - Credit Losses (Topic 326), Measurement of Credit Losses on Financial Instruments. In June 2016, the FASB issued ASU No. 2016-13, which significantly changes the way entities recognize impairment of many financial assets by requiring immediate recognition of estimated credit losses expected to occur over their remaining lives. This new guidance is effective for the Company in fiscal 2020 with early adoption permitted beginning in fiscal 2019. The Company is currently evaluating the effects that the adoption of this ASU will have on its condensed consolidated financial statements. Compensation-Retirement Benefits - Defined Benefit Plans - General (Subtopic 715-20), Disclosure Framework - Changes to the Disclosure Requirements for Defined Benefit Plans. In August 2018, the FASB issued ASU 2018-14, which removes, adds and clarifies several disclosure requirements for employers that sponsor defined benefit pension or other postretirement plans. This new guidance is effective on a retrospective basis for the Company in fiscal 2021. Early adoption is permitted. The Company does not believe that the adoption of this ASU will have a material effect on its condensed consolidated financial statements.
Derivatives	The Company uses derivative instruments primarily to reduce its exposure to changes in currency exchange rates and interest rates. At the inception of a derivative contract, the Company determines whether the transaction is deemed a hedge. If deemed a hedge, the Company documents the relationship between the derivative instrument and the risk being hedged. In this documentation, the Company identifies the hedged item and evaluates whether the derivative instrument is expected to reduce the risks associated with such item in order to qualify for hedge accounting. The Company believes that any credit risk associated with its derivative instruments is remote based on the creditworthiness of the financial institutions issuing those agreements. The Company does not hold or engage in transactions involving derivative instruments for purposes other than risk management.
Fair Value Measurement	The carrying value of the Company's revolving credit facility approximates the fair value as the obligation bears variable rates of interest, which adjust frequently, based on prevailing market rates. The fair values of the commercial real estate loan and senior promissory notes are primarily calculated based on quoted market rates plus an applicable margin available to the Company at the respective period ends, which represent Level 2 measurements. The Company uses the market approach technique to value its financial assets and liabilities, and there were no changes in valuation techniques during the first six months of 2019 . The Company's banker's acceptance drafts are carried at face value which approximates their fair value due to the short-term nature of the negotiable instrument. The fair values of the Company's forward currency-exchange contracts are based on quoted forward foreign exchange rates at the reporting date. The fair values of the Company's interest rate swap agreements are based on LIBOR yield curves at the reporting date. The forward currency-exchange contracts and interest rate swap agreements are hedges of either recorded assets or liabilities or anticipated transactions and represent the estimated amount the Company would receive or pay upon liquidation of the contracts. Changes in values of the underlying hedged assets and liabilities or anticipated transactions are not reflected in the table above.

Nature of Operations and Summ_3

Nature of Operations and Summary of Significant Accounting Policies (Tables)	6 Months Ended
	Jun. 29, 2019
Accounting Policies [Abstract]
Supplemental Cash Flow Information	Six Months Ended (In thousands) June 29, June 30, Cash Paid for Interest $ 6,108 $ 4,268 Cash Paid for Income Taxes, Net of Refunds $ 12,975 $ 14,808 Non-Cash Investing Activities: Post-closing adjustment $ — $ 237 Liabilities assumed of acquired business $ 30,064 $ — Non-cash additions to property, plant, and equipment $ 306 $ 1,033 Non-Cash Financing Activities: Issuance of Company common stock upon vesting of restricted stock units $ 3,743 $ 3,264 Dividends declared but unpaid $ 2,590 $ 2,442
Cash and Cash Equivalents	The following table provides a reconciliation of cash, cash equivalents, and restricted cash reported within the Company's condensed consolidated balance sheet that are shown in aggregate in the accompanying condensed consolidated statement of cash flows: (In thousands) June 29, June 30, December 29, December 30, Cash and cash equivalents $ 57,049 $ 60,177 $ 45,830 $ 75,425 Restricted cash 1,089 975 287 1,421 Total Cash, Cash Equivalents, and Restricted Cash $ 58,138 $ 61,152 $ 46,117 $ 76,846
Restricted Cash	The following table provides a reconciliation of cash, cash equivalents, and restricted cash reported within the Company's condensed consolidated balance sheet that are shown in aggregate in the accompanying condensed consolidated statement of cash flows: (In thousands) June 29, June 30, December 29, December 30, Cash and cash equivalents $ 57,049 $ 60,177 $ 45,830 $ 75,425 Restricted cash 1,089 975 287 1,421 Total Cash, Cash Equivalents, and Restricted Cash $ 58,138 $ 61,152 $ 46,117 $ 76,846
Inventories	The components of inventories are as follows: June 29, December 29, (In thousands) Raw Materials $ 49,899 $ 44,522 Work in Process 21,800 15,876 Finished Goods 38,089 25,975 $ 109,788 $ 86,373
Acquired Intangible Assets	Acquired intangible assets by major asset class are as follows: (In thousands) Gross Accumulated Currency Net June 29, 2019 Definite-Lived Customer relationships $ 171,583 $ (45,001 ) $ (3,661 ) $ 122,921 Product technology 57,501 (25,692 ) (1,544 ) 30,265 Tradenames 5,227 (2,201 ) (391 ) 2,635 Other 18,064 (12,998 ) (580 ) 4,486 252,375 (85,892 ) (6,176 ) 160,307 Indefinite-Lived Tradenames 26,100 — (17 ) 26,083 Acquired Intangible Assets $ 278,475 $ (85,892 ) $ (6,193 ) $ 186,390 December 29, 2018 Definite-Lived Customer relationships $ 113,283 $ (38,160 ) $ (4,520 ) $ 70,603 Product technology 46,501 (23,563 ) (1,677 ) 21,261 Tradenames 5,227 (1,980 ) (390 ) 2,857 Other 13,744 (11,476 ) (127 ) 2,141 178,755 (75,179 ) (6,714 ) 96,862 Indefinite-Lived Tradenames 16,600 — (115 ) 16,485 Acquired Intangible Assets $ 195,355 $ (75,179 ) $ (6,829 ) $ 113,347
Changes in the Carrying Amount of Goodwill	The changes in the carrying amount of goodwill by segment are as follows: (In thousands) Papermaking Systems Wood Processing Systems Material Handling Systems Total Balance at December 29, 2018 Gross balance $ 241,912 $ 101,771 $ — $ 343,683 Accumulated impairment losses (85,509 ) — — (85,509 ) Net balance 156,403 101,771 — 258,174 2019 Adjustments Acquisition (Note 2) — — 80,991 80,991 Currency translation (394 ) 1,420 — 1,026 Total 2019 adjustments (394 ) 1,420 80,991 82,017 Balance at June 29, 2019 Gross balance 241,518 103,191 80,991 425,700 Accumulated impairment losses (85,509 ) — — (85,509 ) Net balance $ 156,009 $ 103,191 $ 80,991 $ 340,191
Warranty Obligations	The changes in the carrying amount of accrued warranty costs included in other current liabilities in the accompanying condensed consolidated balance sheet are as follows: Six Months Ended (In thousands) June 29, June 30, Balance at Beginning of Year $ 5,726 $ 5,498 Provision charged to expense 2,368 1,656 Usage (1,755 ) (881 ) Acquisition 303 — Currency translation 37 (192 ) Balance at End of Period $ 6,679 $ 6,081
Revenue by Product Line, Product Type, Geography, and Revenue Recognition Method	The following table presents revenue by revenue recognition method: Three Months Ended Six Months Ended June 29, June 30, June 29, June 30, (In thousands) 2019 2018 2019 2018 Point in time $ 157,716 $ 145,998 $ 305,992 $ 288,003 Over time 19,449 8,915 42,489 16,103 $ 177,165 $ 154,913 $ 348,481 $ 304,106 The following table presents the disaggregation of revenues by product type and geography: Three Months Ended Six Months Ended June 29, June 30, June 29, June 30, (In thousands) 2019 2018 2019 2018 Revenues by Product Type: Parts and Consumables $ 111,917 $ 94,857 $ 224,767 $ 190,842 Capital 65,248 60,056 123,714 113,264 $ 177,165 $ 154,913 $ 348,481 $ 304,106 Revenues by Geography: North America $ 98,667 $ 75,375 199,543 152,991 Europe 43,813 45,032 82,798 86,525 Asia 23,696 25,502 40,774 45,650 Rest of World 10,989 9,004 25,366 18,940 $ 177,165 $ 154,913 $ 348,481 $ 304,106
Balances from Contracts with Customers	The following table presents balances from contracts with customers: June 29, December 29, (In thousands) Accounts receivable $ 106,202 $ 92,624 Contract assets $ 13,728 $ 15,741 Contract liabilities $ 41,239 $ 34,774

Acquisition (Tables)

Acquisition (Tables)	6 Months Ended
	Jun. 29, 2019
Business Combinations [Abstract]
Summary of Assets Acquired and Liabilities Assumed	The following table summarizes the estimated fair values of assets acquired and liabilities assumed and the purchase price for SMH. In the quarter ended June 29, 2019 , the Company made certain adjustments to the purchase price allocation based on revised valuation assumptions, including an adjustment of $ 5,980,000 to increase intangible assets and an adjustment of $ 443,000 to increase long-term deferred income taxes principally due to the tax impact of the increase in intangible assets, resulting in a $5,511,000 decrease in goodwill initially recorded. The effect of these measurement period adjustments would have resulted in an additional $540,000 in selling, general and administrative expenses and $147,000 in cost of revenues in the accompanying condensed consolidated statement of income in the first three months of 2019 if the adjustments to the provisional amounts were recognized as of the acquisition date. The final purchase accounting and purchase price allocation is substantially complete but remains subject to change as the Company continues to refine its valuation of certain acquired assets and the valuation of acquired intangibles. (In thousands) Total Net Assets Acquired: Cash, Cash Equivalents, and Restricted Cash $ 2,431 Accounts Receivable 10,268 Inventory 13,061 Other Current Assets 900 Property, Plant, and Equipment 7,522 Other Assets 11,057 Definite-Lived Intangible Assets Customer relationships 58,300 Product technology 11,000 Other 4,320 Indefinite-Lived Intangible Assets Tradenames 9,500 Goodwill 80,991 Total assets acquired 209,350 Accounts Payable 3,380 Customer Deposits 2,908 Other Current Liabilities 4,975 Long-Term Lease Liabilities 15,244 Long-Term Deferred Income Taxes 3,557 Total liabilities assumed 30,064 Net assets acquired $ 179,286 Purchase Price: Cash Paid to Seller Borrowed Under Revolving Credit Facility $ 179,286
Unaudited Supplemental Pro Forma Information	Had the acquisition of SMH been completed as of the beginning of 2018, the Company’s pro forma results of operations for the three- and six -month periods ended June 29, 2019 and June 28, 2018 would have been as follows: Three Months Ended Six Months Ended (In thousands, except per share amounts) June 29, June 30, June 29, June 30, Revenues $ 177,165 $ 176,252 $ 348,481 $ 346,784 Net Income Attributable to Kadant $ 17,236 $ 11,119 $ 31,348 $ 19,594 Earnings per Share Attributable to Kadant: Basic $ 1.54 $ 1.00 $ 2.81 $ 1.77 Diluted $ 1.51 $ 0.98 $ 2.75 $ 1.73

Earnings per Share (Tables)

Earnings per Share (Tables)	6 Months Ended
	Jun. 29, 2019
Earnings Per Share [Abstract]
Basic and Diluted Earnings Per Share	Basic and diluted earnings per share (EPS) are calculated as follows: Three Months Ended Six Months Ended June 29, June 30, June 29, June 30, (In thousands, except per share amounts) Amounts Attributable to Kadant: Net Income $ 16,304 $ 12,349 $ 27,204 $ 23,207 Basic Weighted Average Shares 11,194 11,092 11,164 11,067 Effect of Stock Options, Restricted Stock Units and Employee Stock Purchase Plan Shares 254 308 252 304 Diluted Weighted Average Shares 11,448 11,400 11,416 11,371 Basic Earnings per Share $ 1.46 $ 1.11 $ 2.44 $ 2.10 Diluted Earnings per Share $ 1.42 $ 1.08 $ 2.38 $ 2.04

Long-Term Obligations (Tables)

Long-Term Obligations (Tables)	6 Months Ended
	Jun. 29, 2019
Debt Disclosure [Abstract]
Schedule of Long-Term Obligations	Long-term obligations are as follows: June 29, December 29, (In thousands) Revolving Credit Facility, due 2023 $ 310,354 $ 141,106 Commercial Real Estate Loan, due 2019 to 2028 19,950 20,475 Senior Promissory Notes, due 2023 to 2028 10,000 10,000 Finance Leases, due 2019 to 2023 2,470 — Other Borrowings, due 2019 to 2023 4,153 4,388 Unamortized Debt Issuance Costs (138 ) (148 ) Total 346,789 175,821 Less: Current Maturities of Long-Term Obligations (2,798 ) (1,668 ) Long-Term Obligations $ 343,991 $ 174,153

Retirement Benefit Plans (Table

Retirement Benefit Plans (Tables)	6 Months Ended
	Jun. 29, 2019
Retirement Benefits [Abstract]
Components of Net Periodic Benefit Cost and Assumptions Used	The components of net periodic benefit cost are as follows: Three Months Ended Three Months Ended (In thousands, except percentages) U.S. Pension Non-U.S. Pension Other Post-Retirement U.S. Pension Non-U.S. Pension Other Post-Retirement Service Cost $ — $ 43 $ 1 $ 175 $ 35 $ 53 Interest Cost 284 28 37 298 30 43 Expected Return on Plan Assets (248 ) (17 ) (1 ) (322 ) (11 ) (1 ) Recognized Net Actuarial Loss 8 5 3 135 15 34 Amortization of Prior Service Cost — — — — 2 22 $ 44 $ 59 $ 40 $ 286 $ 71 $ 151 The weighted average assumptions used to determine net periodic benefit cost are as follows: Discount Rate 4.10 % 2.81 % 4.44 % 3.51 % 3.80 % 3.64 % Expected Long-Term Return on Plan Assets 4.10 % 9.22 % 9.22 % 4.50 % 7.43 % 7.43 % Rate of Compensation Increase — % 2.99 % 5.57 % 3.00 % 3.69 % 3.07 % Six Months Ended Six Months Ended (In thousands, except percentages) U.S. Pension Non-U.S. Pension Other Post-Retirement U.S. Pension Non-U.S. Pension Other Post-Retirement Service Cost $ — $ 86 $ 2 $ 350 $ 71 $ 106 Interest Cost 567 57 75 596 60 86 Expected Return on Plan Assets (497 ) (34 ) (2 ) (644 ) (22 ) (2 ) Recognized Net Actuarial Loss 16 10 6 270 31 68 Amortization of Prior Service Cost — — — — 4 44 $ 86 $ 119 $ 81 $ 572 $ 144 $ 302 The weighted average assumptions used to determine net periodic benefit cost are as follows: Discount Rate 4.10 % 2.81 % 4.44 % 3.51 % 3.80 % 3.64 % Expected Long-Term Return on Plan Assets 4.10 % 9.22 % 9.22 % 4.50 % 7.43 % 7.43 % Rate of Compensation Increase — % 2.99 % 5.57 % 3.00 % 3.69 % 3.07 %

Leases (Tables)

Leases (Tables)	6 Months Ended
	Jun. 29, 2019
Leases [Abstract]
Lease, Cost	The components of lease expense are as follows: Three Months Ended Six Months Ended (In thousands) June 29, 2019 June 29, 2019 Operating Lease Cost $ 1,381 $ 2,751 Short-Term Lease Cost 179 364 Finance Lease Cost: ROU asset amortization 305 598 Interest on lease liabilities 25 44 Total Finance Lease Cost 330 642 Total Lease Costs $ 1,890 $ 3,757 Supplemental cash flow information related to leases is as follows: Six Months Ended (In thousands) June 29, 2019 Cash Paid for Amounts Included in the Measurement of Lease Liabilities: Operating cash flows from operating leases $ 2,789 Operating cash flows from finance leases $ 44 Financing cash flows from finance leases $ 564 ROU Assets Obtained in Exchange for Lease Obligations (a): Operating leases $ 27,428 Finance leases $ 3,050 (a) Includes additions related to the transition adjustment for the adoption of ASC 842. The post-adoption additions of operating leases were $12,110,000 , of which $10,994,000 related to ROU assets obtained as part of our acquisition of SMH. The post-adoption additions of finance leases were $ 1,699,000 , of which $ 528,000 related to ROU assets obtained as part of our acquisition of SMH.
Supplemental Balance Sheet Information Related to Leases	Supplemental balance sheet information related to leases is as follows: (In thousands, except lease term and discount rate) Balance Sheet Line Item June 29, 2019 Operating Leases: ROU assets Other assets $ 28,565 Short-term liabilities Other current liabilities $ 4,183 Long-term liabilities Other long-term liabilities 25,866 Total operating lease liabilities $ 30,049 Finance Leases: ROU assets, at cost Property, plant, and equipment, at cost $ 3,886 ROU assets accumulated amortization Less: accumulated depreciation and amortization (1,329 ) ROU assets, net Property, plant, and equipment, net $ 2,557 Short-term obligations Current maturities of long-term obligations $ 1,149 Long-term obligations Long-term obligations 1,321 Total finance lease liabilities $ 2,470 Weighted Average Remaining Lease Term: Operating leases 10.5 Finance leases 2.4 Weighted Average Discount Rate: Operating leases 3.95 % Finance leases 4.18 %
Lessee, Operating Lease, Liability, Maturity	As of June 29, 2019 , future lease payments for lease liabilities are as follows: Operating Finance (In thousands) Leases Leases 2019 $ 2,732 $ 651 2020 4,979 1,089 2021 4,178 641 2022 3,464 171 2023 3,081 43 Thereafter 18,681 — Total Future Lease Payments 37,115 2,595 Less: Imputed Interest (7,066 ) (125 ) Present Value of Lease Payments $ 30,049 $ 2,470
Finance Lease, Liability, Maturity	As of June 29, 2019 , future lease payments for lease liabilities are as follows: Operating Finance (In thousands) Leases Leases 2019 $ 2,732 $ 651 2020 4,979 1,089 2021 4,178 641 2022 3,464 171 2023 3,081 43 Thereafter 18,681 — Total Future Lease Payments 37,115 2,595 Less: Imputed Interest (7,066 ) (125 ) Present Value of Lease Payments $ 30,049 $ 2,470
Schedule of Future Minimum Rental Payments for Operating Leases	As previously disclosed in the Company's 2018 Annual Report on Form 10-K for the fiscal year ended December 29, 2018 and under the previous lease accounting standard, future minimum lease payments for noncancelable operating leases were as follows: (In thousands) December 29, 2019 $ 4,507 2020 3,275 2021 2,230 2022 1,579 2023 987 Thereafter 1,713 Total Future Minimum Lease Payments $ 14,291

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Items (Tables)	6 Months Ended
	Jun. 29, 2019
Equity [Abstract]
Components of Accumulated Other Comprehensive Items	Changes in each component of accumulated other comprehensive items (AOCI), net of tax, are as follows: (In thousands) Foreign Currency Translation Adjustment Pension and Other Post-Retirement Benefit Liability Adjustments Deferred Loss on Cash Flow Hedges Total Balance at December 29, 2018 $ (34,804 ) $ (4,375 ) $ (197 ) $ (39,376 ) Other comprehensive income (loss) before reclassifications 1,498 4 (470 ) 1,032 Reclassifications from AOCI — 24 69 93 Net current period other comprehensive income (loss) 1,498 28 (401 ) 1,125 Balance at June 29, 2019 $ (33,306 ) $ (4,347 ) $ (598 ) $ (38,251 )
Reclassification Out of Accumulated Other Comprehensive Items	Amounts reclassified from AOCI are as follows: Three Months Ended Six Months Ended (In thousands) June 29, June 30, June 29, June 30, Statement of Income Line Item Retirement Benefit Plans (a) Amortization of net actuarial loss $ (16 ) $ (184 ) $ (32 ) $ (369 ) Other expense, net Amortization of prior service cost — (24 ) — (48 ) Other expense, net Total expense before income taxes (16 ) (208 ) (32 ) (417 ) Income tax benefit 4 51 8 103 Provision for income taxes (12 ) (157 ) (24 ) (314 ) Cash Flow Hedges (b) Interest rate swap agreements 7 (17 ) 27 (22 ) Interest expense Forward currency-exchange contracts (129 ) 24 (129 ) 24 Cost of revenues Total (expense) income before income taxes (122 ) 7 (102 ) 2 Income tax benefit (provision) 38 (2 ) 33 (1 ) Provision for income taxes (84 ) 5 (69 ) 1 Total Reclassifications $ (96 ) $ (152 ) $ (93 ) $ (313 ) (a) Included in the computation of net periodic benefit cost. See Note 7 for additional information. (b) See Note 10 for additional information.

Derivatives (Tables)

Derivatives (Tables)	6 Months Ended
	Jun. 29, 2019
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Fair Value of Derivative Instruments	The following table summarizes the fair value of the Company's derivative instruments in the accompanying condensed consolidated balance sheet: June 29, 2019 December 29, 2018 Balance Sheet Location Asset (Liability) (a) Notional Amount (b) Asset (Liability) (a) Notional Amount (In thousands) Derivatives Designated as Hedging Instruments: Derivatives in an Asset Position: 2015 Swap Agreement Other Current Assets $ 42 $ 10,000 $ — $ — 2015 Swap Agreement Other Long-Term Assets $ — $ — $ 148 $ 10,000 Forward currency-exchange contract Other Current Assets $ 11 $ 1,134 $ — $ — Forward currency-exchange contract Other Long-Term Assets $ — $ — $ 11 $ 842 Derivatives in a Liability Position: Forward currency-exchange contract Other Current Liabilities $ (13 ) $ 842 $ (50 ) $ 2,946 2018 Swap Agreement Other Long-Term Liabilities $ (829 ) $ 15,000 $ (352 ) $ 15,000 Derivatives Not Designated as Hedging Instruments: Derivatives in an Asset Position: Forward currency-exchange contracts Other Current Assets $ — $ 39 $ 9 $ 1,192 Derivatives in a Liability Position: Forward currency-exchange contracts Other Current Liabilities $ (19 ) $ 1,190 $ (31 ) $ 1,384 (a) See Note 11 for the fair value measurements relating to these financial instruments. (b) The total 2019 notional amounts are indicative of the level of the Company's recurring derivative activity.
Activity in Accumulated Other Comprehensive Items (OCI)	The following table summarizes the activity in AOCI associated with the Company's derivative instruments designated as cash flow hedges as of and for the six months ended June 29, 2019 : (In thousands) Interest Rate Swap Agreements Forward Currency- Exchange Contracts Total Unrealized Loss, Net of Tax, at December 29, 2018 $ (170 ) $ (27 ) $ (197 ) (Gain) loss reclassified to earnings (a) (20 ) 89 69 Loss recognized in AOCI (407 ) (63 ) (470 ) Unrealized Loss, Net of Tax, at June 29, 2019 $ (597 ) $ (1 ) $ (598 ) (a) See Note 9 for the income statement classification.

Fair Value Measurements and F_2

Fair Value Measurements and Fair Value of Financial Instruments (Tables)	6 Months Ended
	Jun. 29, 2019
Fair Value Disclosures [Abstract]
Fair Value of Assets and Liabilities Measured on a Recurring Basis	The following table presents the fair value hierarchy for those assets and liabilities measured at fair value on a recurring basis: (In thousands) Level 1 Level 2 Level 3 Total June 29, 2019 Assets: Money market funds and time deposits $ 5,006 $ — $ — $ 5,006 Banker's acceptance drafts (a) $ — $ 7,706 $ — $ 7,706 2015 Swap Agreement $ — $ 42 $ — $ 42 Forward currency-exchange contract $ — $ 11 $ — $ 11 Liabilities: 2018 Swap Agreement $ — $ 829 $ — $ 829 Forward currency-exchange contracts $ — $ 32 $ — $ 32 December 29, 2018 Assets: Money market funds and time deposits $ 6,902 $ — $ — $ 6,902 Banker's acceptance drafts (a) $ — $ 7,976 $ — $ 7,976 2015 Swap Agreement $ — $ 148 $ — $ 148 Forward currency-exchange contracts $ — $ 20 $ — $ 20 Liabilities: 2018 Swap Agreement $ — $ 352 $ — $ 352 Forward currency-exchange contracts $ — $ 81 $ — $ 81 (a) Included in accounts receivable in the accompanying condensed consolidated balance sheet.
Carrying Value and Fair Value of Debt Obligations	The carrying value and fair value of the Company's debt obligations, excluding lease obligations and other borrowings, are as follows: June 29, 2019 December 29, 2018 Carrying Value Fair Value Carrying Value Fair Value (In thousands) Debt Obligations: Revolving credit facility $ 310,354 $ 310,354 $ 141,106 $ 141,106 Commercial real estate loan 19,950 20,942 20,475 20,575 Senior promissory notes 10,000 10,617 10,000 10,120 $ 340,304 $ 341,913 $ 171,581 $ 171,801

Business Segment Information (T

Business Segment Information (Tables)	6 Months Ended
	Jun. 29, 2019
Segment Reporting [Abstract]
Business Segment Reporting Information	The following table presents financial information for the Company's reportable operating segments: Three Months Ended Six Months Ended June 29, June 30, June 29, June 30, (In thousands) 2019 2018 2019 2018 Revenues: Stock-Preparation $ 50,817 $ 56,376 $ 102,865 $ 101,859 Fluid-Handling 34,713 32,531 67,467 65,417 Doctoring, Cleaning, & Filtration 30,560 29,543 58,950 56,765 Papermaking Systems $ 116,090 $ 118,450 $ 229,282 $ 224,041 Wood Processing Systems 37,869 33,152 71,918 72,293 Material Handling Systems (a) 20,197 — 40,781 — Fiber-based Products 3,009 3,311 6,500 7,772 $ 177,165 $ 154,913 $ 348,481 $ 304,106 Income Before Provision for Income Taxes: Papermaking Systems (b) $ 20,061 $ 20,899 $ 38,570 $ 35,483 Wood Processing Systems (c) 8,801 5,313 16,071 12,676 Material Handling Systems (a, d) 488 — (865 ) — Corporate and Fiber-based Products (e) (6,208 ) (6,477 ) (12,059 ) (11,760 ) Total operating income 23,142 19,735 41,717 36,399 Interest expense, net (f) (3,514 ) (1,728 ) (6,962 ) (3,277 ) Other expense, net (f) (99 ) (245 ) (198 ) (491 ) $ 19,529 $ 17,762 $ 34,557 $ 32,631 Capital Expenditures: Papermaking Systems $ 1,157 $ 3,840 $ 2,514 $ 8,489 Wood Processing Systems 428 1,184 979 1,560 Material Handling Systems (a) 342 — 380 — Corporate and Fiber-based Products 48 36 270 162 $ 1,975 $ 5,060 $ 4,143 $ 10,211 June 29, December 29, (In thousands) 2019 2018 Total Assets: Papermaking Systems $ 487,865 $ 462,297 Wood Processing Systems 253,758 247,553 Material Handling Systems (a) 201,557 — Corporate and Fiber-based Products (g) 22,611 15,899 $ 965,791 $ 725,749 (a) Represents SMH, which was acquired on January 2, 2019 (see Note 2 ). (b) Includes restructuring costs of $ 569,000 in the three-month period ended June 30, 2018 and $ 1,339,000 in the six-month period ended June 30, 2018 (see Note 13 ). (c) Includes acquisition-related expenses of $ 252,000 in the six -month period ended June 30, 2018 for the amortization of acquired backlog. (d) Includes $ 1,523,000 in the three-month period ended June 29, 2019 and $ 5,674,000 in the six -month period ended June 29, 2019 of acquisition-related expenses. Acquisition-related expenses include acquisition transaction costs and amortization expense associated with acquired profit in inventory and backlog. (e) Corporate primarily includes general and administrative expenses. (f) The Company does not allocate interest and other expense, net to its segments. (g) Primarily includes Corporate and Fiber-based Products' cash and cash equivalents, tax assets, ROU assets, and property, plant, and equipment.

Nature of Operations and Summ_4

Nature of Operations and Summary of Significant Accounting Policies - Narrative (Details) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 29, 2019USD ($)	Jun. 30, 2018USD ($)	Jun. 29, 2019USD ($)Segment	Jun. 30, 2018USD ($)	Dec. 30, 2018	Dec. 29, 2018USD ($)
Accounting Policies [Abstract]
Number of reportable segments | Segment			3
Bank guarantees, expiration period			12 months
Banker's acceptance drafts, maturity period			6 months
Banker's acceptance drafts	$ 7,706		$ 7,706			$ 7,976
Revenue recognized	$ 4,427	$ 2,788	$ 23,522	$ 30,113
Assets | ASU No. 2016-02
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Cumulative effect of new accounting principle in period of adoption, percent					2.30%
Liabilities | ASU No. 2016-02
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Cumulative effect of new accounting principle in period of adoption, percent					4.80%

Nature of Operations and Summ_5

Nature of Operations and Summary of Significant Accounting Policies - Supplemental Cash Flow Information (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 29, 2019	Jun. 30, 2018
Accounting Policies [Abstract]
Cash Paid for Interest	$ 6,108	$ 4,268
Cash Paid for Income Taxes, Net of Refunds	12,975	14,808
Non-Cash Investing Activities:
Post-closing adjustment	0	237
Liabilities assumed of acquired business	30,064	0
Non-cash additions to property, plant, and equipment	306	1,033
Non-Cash Financing Activities:
Issuance of Company common stock upon vesting of restricted stock units	3,743	3,264
Dividends declared but unpaid	$ 2,590	$ 2,442

Nature of Operations and Summ_6

Nature of Operations and Summary of Significant Accounting Policies - Cash, Cash Equivalents, and Restricted Cash (Details) - USD ($) $ in Thousands	Jun. 29, 2019	Dec. 29, 2018	Jun. 30, 2018	Dec. 30, 2017
Accounting Policies [Abstract]
Cash and cash equivalents	$ 57,049	$ 45,830	$ 60,177	$ 75,425
Restricted cash	1,089	287	975	1,421
Total Cash, Cash Equivalents, and Restricted Cash	$ 58,138	$ 46,117	$ 61,152	$ 76,846

Nature of Operations and Summ_7

Nature of Operations and Summary of Significant Accounting Policies - Inventories (Details) - USD ($) $ in Thousands	Jun. 29, 2019	Dec. 29, 2018
Accounting Policies [Abstract]
Raw Materials	$ 49,899	$ 44,522
Work in Process	21,800	15,876
Finished Goods	38,089	25,975
Total Inventories	$ 109,788	$ 86,373

Nature of Operations and Summ_8

Nature of Operations and Summary of Significant Accounting Policies - Intangible Assets By Major Asset Class (Details) - USD ($) $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 29, 2019	Dec. 29, 2018
Acquired Definite-Lived Intangible Assets [Line Items]
Gross	$ 252,375	$ 178,755
Accumulated Amortization	(85,892)	(75,179)
Currency Translation	(6,176)	(6,714)
Net	160,307	96,862
Acquired Intangible Assets [Abstract]
Gross	278,475	195,355
Currency Translation	(6,193)	(6,829)
Net	186,390	113,347
Tradenames
Acquired Indefinite-Lived Intangible Assets [Line Items]
Gross	26,100	16,600
Currency Translation	(17)	(115)
Net	26,083	16,485
Customer relationships
Acquired Definite-Lived Intangible Assets [Line Items]
Gross	171,583	113,283
Accumulated Amortization	(45,001)	(38,160)
Currency Translation	(3,661)	(4,520)
Net	122,921	70,603
Product technology
Acquired Definite-Lived Intangible Assets [Line Items]
Gross	57,501	46,501
Accumulated Amortization	(25,692)	(23,563)
Currency Translation	(1,544)	(1,677)
Net	30,265	21,261
Tradenames
Acquired Definite-Lived Intangible Assets [Line Items]
Gross	5,227	5,227
Accumulated Amortization	(2,201)	(1,980)
Currency Translation	(391)	(390)
Net	2,635	2,857
Other
Acquired Definite-Lived Intangible Assets [Line Items]
Gross	18,064	13,744
Accumulated Amortization	(12,998)	(11,476)
Currency Translation	(580)	(127)
Net	$ 4,486	$ 2,141

Nature of Operations and Summ_9

Nature of Operations and Summary of Significant Accounting Policies - Goodwill (Details) $ in Thousands	6 Months Ended
	Jun. 29, 2019USD ($)
Goodwill [Roll Forward]
Gross Balance, Beginning Balance	$ 343,683
Accumulated impairment losses	(85,509)
Net Balance, Beginning Balance	258,174
Acquisition	80,991
Currency translation	1,026
Total 2019 adjustments	82,017
Gross Balance, Ending Balance	425,700
Accumulated impairment losses	(85,509)
Net Balance, Ending Balance	340,191
Operating Segment | Papermaking Systems
Goodwill [Roll Forward]
Gross Balance, Beginning Balance	241,912
Accumulated impairment losses	(85,509)
Net Balance, Beginning Balance	156,403
Acquisition	0
Currency translation	(394)
Total 2019 adjustments	(394)
Gross Balance, Ending Balance	241,518
Accumulated impairment losses	(85,509)
Net Balance, Ending Balance	156,009
Operating Segment | Wood Processing Systems
Goodwill [Roll Forward]
Gross Balance, Beginning Balance	101,771
Accumulated impairment losses	0
Net Balance, Beginning Balance	101,771
Acquisition	0
Currency translation	1,420
Total 2019 adjustments	1,420
Gross Balance, Ending Balance	103,191
Accumulated impairment losses	0
Net Balance, Ending Balance	103,191
Operating Segment | Material Handling Systems
Goodwill [Roll Forward]
Gross Balance, Beginning Balance	0
Accumulated impairment losses	0
Net Balance, Beginning Balance	0
Acquisition	80,991
Currency translation	0
Total 2019 adjustments	80,991
Gross Balance, Ending Balance	80,991
Accumulated impairment losses	0
Net Balance, Ending Balance	$ 80,991

Nature of Operations and Sum_10

Nature of Operations and Summary of Significant Accounting Policies - Warranty Obligations (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 29, 2019	Jun. 30, 2018
Changes in the carrying amount of accrued warranty costs [Roll Forward]
Balance at Beginning of Year	$ 5,726	$ 5,498
Provision charged to expense	2,368	1,656
Usage	(1,755)	(881)
Acquisition	303	0
Currency translation	37	(192)
Balance at End of Period	$ 6,679	$ 6,081

Nature of Operations and Sum_11

Nature of Operations and Summary of Significant Accounting Policies - Revenue Recognition by Product Line, Product Type, Geography and Revenue Recognition Method (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 29, 2019	Jun. 30, 2018	Jun. 29, 2019	Jun. 30, 2018
Disaggregation of Revenue [Line Items]
Revenues	$ 177,165	$ 154,913	$ 348,481	$ 304,106
Point in Time
Disaggregation of Revenue [Line Items]
Revenues	157,716	145,998	305,992	288,003
Over Time
Disaggregation of Revenue [Line Items]
Revenues	19,449	8,915	42,489	16,103
North America
Disaggregation of Revenue [Line Items]
Revenues	98,667	75,375	199,543	152,991
Europe
Disaggregation of Revenue [Line Items]
Revenues	43,813	45,032	82,798	86,525
Asia
Disaggregation of Revenue [Line Items]
Revenues	23,696	25,502	40,774	45,650
Rest of World
Disaggregation of Revenue [Line Items]
Revenues	10,989	9,004	25,366	18,940
Parts and Consumables
Disaggregation of Revenue [Line Items]
Revenues	111,917	94,857	224,767	190,842
Capital
Disaggregation of Revenue [Line Items]
Revenues	$ 65,248	$ 60,056	$ 123,714	$ 113,264

Nature of Operations and Sum_12

Nature of Operations and Summary of Significant Accounting Policies - Revenue from Contract with Customers (Details) - USD ($) $ in Thousands	Jun. 29, 2019	Dec. 29, 2018
Accounting Policies [Abstract]
Accounts receivable	$ 106,202	$ 92,624
Contract assets	13,728	15,741
Contract liabilities	$ 41,239	$ 34,774

Acquisition - Acquisition of Sy

Acquisition - Acquisition of Syntron Material Handling Group, LLC (Details) - USD ($) $ in Thousands	Jan. 02, 2019	Jun. 29, 2019	Mar. 30, 2019	Jun. 29, 2019	Jun. 30, 2018	Dec. 29, 2018
Business Acquisition [Line Items]
Acquisition transaction costs				$ 843
Payments to acquire business, net of cash acquired				176,855	$ 0
Goodwill		$ 340,191		340,191		$ 258,174
Goodwill, purchase accounting adjustments				80,991
Syntron Material Handling Group, LLC
Business Acquisition [Line Items]
Acquisition transaction costs				843
Payments to acquire business, net of cash acquired	$ 176,855
Goodwill	80,991
Goodwill, expected to be tax deductible	$ 58,000
Deferred income tax payments, period (years)	15 years
Intangible assets other than goodwill acquired	$ 83,120
Intangible assets other than goodwill, expected tax deductible amount	$ 70,971
Acquired intangible assets other than goodwill income tax payments, period (years)	15 years
Revenues from the date of acquisition				40,781
Operating income from the date of acquisition				865
Amortization expense				$ 4,831
Adjustmet to acquired intangible assets		5,980
Adjustment to long-term deferred income taxes		443
Goodwill, purchase accounting adjustments		$ (5,511)
Selling, General and Administrative Expenses | Syntron Material Handling Group, LLC
Business Acquisition [Line Items]
Business combination, adjustments related to previous period			$ 540
Cost of Revenue | Syntron Material Handling Group, LLC
Business Acquisition [Line Items]
Business combination, adjustments related to previous period			$ 147

Acquisition - Purchase Price Al

Acquisition - Purchase Price Allocation (Details) - USD ($) $ in Thousands	Jan. 02, 2019	Jun. 29, 2019	Dec. 29, 2018
Net Assets Acquired:
Goodwill		$ 340,191	$ 258,174
Syntron Material Handling Group, LLC
Net Assets Acquired:
Cash, Cash Equivalents, and Restricted Cash	$ 2,431
Accounts Receivable	10,268
Inventory	13,061
Other Current Assets	900
Property, Plant, and Equipment	7,522
Other Assets	11,057
Goodwill	80,991
Total assets acquired	209,350
Accounts Payable	3,380
Customer Deposits	2,908
Other Current Liabilities	4,975
Long-Term Lease Liabilities	15,244
Long-Term Deferred Income Taxes	3,557
Total liabilities assumed	30,064
Net assets acquired	179,286
Purchase Price:
Cash Paid to Seller Borrowed Under Revolving Credit Facility	$ 179,286
Weighted average amortization period of acquired intangible assets	14 years
Syntron Material Handling Group, LLC | Tradenames
Net Assets Acquired:
Indefinite-Lived Intangible Assets	$ 9,500
Syntron Material Handling Group, LLC | Customer relationships
Net Assets Acquired:
Definite-Lived Intangible Assets	$ 58,300
Purchase Price:
Weighted average amortization period of acquired intangible assets	15 years
Syntron Material Handling Group, LLC | Product technology
Net Assets Acquired:
Definite-Lived Intangible Assets	$ 11,000
Purchase Price:
Weighted average amortization period of acquired intangible assets	14 years
Syntron Material Handling Group, LLC | Other
Net Assets Acquired:
Definite-Lived Intangible Assets	$ 4,320
Purchase Price:
Weighted average amortization period of acquired intangible assets	8 years

Acquisition - Pro Forma Informa

Acquisition - Pro Forma Information (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 29, 2019	Jun. 30, 2018	Jun. 29, 2019	Jun. 30, 2018
Pro Forma Information
Nonrecurring adjustments	$ (16,304)	$ (12,349)	$ (27,204)	$ (23,207)
Syntron Material Handling Group, LLC
Business Acquisition [Line Items]
Revenues	177,165	176,252	348,481	346,784
Net Income Attributable to Kadant	$ 17,236	$ 11,119	$ 31,348	$ 19,594
Earnings per Share Attributable to Kadant:
Basic (in dollars per share)	$ 1.54	$ 1	$ 2.81	$ 1.77
Diluted (in dollars per share)	$ 1.51	$ 0.98	$ 2.75	$ 1.73
Syntron Material Handling Group, LLC | Acquisition-related transaction costs
Pro Forma Information
Nonrecurring adjustments			$ 843	$ (843)
Syntron Material Handling Group, LLC | Inventory revalued
Pro Forma Information
Nonrecurring adjustments	$ 1,239	$ (1,239)	(3,549)	(3,549)
Syntron Material Handling Group, LLC | Intangible amortization related to acquired backlog
Pro Forma Information
Nonrecurring adjustments	$ 284	$ (284)	$ (1,282)	$ (1,282)

Earnings per Share - Basic and

Earnings per Share - Basic and Diluted Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 29, 2019	Jun. 30, 2018	Jun. 29, 2019	Jun. 30, 2018
Amounts Attributable to Kadant:
Net Income Attributable to Kadant	$ 16,304	$ 12,349	$ 27,204	$ 23,207
Basic Weighted Average Shares (in shares)	11,194	11,092	11,164	11,067
Effect of Stock Options, Restricted Stock Units and Employee Stock Purchase Plan Shares (in shares)	254	308	252	304
Diluted Weighted Average Shares (in shares)	11,448	11,400	11,416	11,371
Basic Earnings per Share (in dollars per share)	$ 1.46	$ 1.11	$ 2.44	$ 2.10
Diluted Earnings per Share (in dollars per share)	$ 1.42	$ 1.08	$ 2.38	$ 2.04

Earnings per Share - Narrative

Earnings per Share - Narrative (Details) - shares shares in Thousands	3 Months Ended		6 Months Ended
	Jun. 29, 2019	Jun. 30, 2018	Jun. 29, 2019	Jun. 30, 2018
Restricted Stock Units (RSUs)
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Amount of antidilutive securities excluded from computation of EPS (in shares)	44	34	44	32

Provision for Income Taxes - Na

Provision for Income Taxes - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 29, 2019	Jun. 30, 2018	Jun. 29, 2019	Jun. 30, 2018
Income Tax Disclosure [Abstract]
Provision for income taxes	$ 3,128	$ 5,271	$ 7,091	$ 9,132
Effective tax rate			21.00%	28.00%

Long-Term Obligations - Schedul

Long-Term Obligations - Schedule of Long-Term Obligations (Details) - USD ($) $ in Thousands	Jun. 29, 2019	Dec. 29, 2018
Debt Instrument [Line Items]
Finance Leases, due 2019 to 2023	$ 2,470
Unamortized Debt Issuance Expense	(138)	$ (148)
Total	346,789	175,821
Less: Current Maturities of Long-Term Obligations	(2,798)	(1,668)
Long-Term Obligations	343,991	174,153
Revolving Credit Facility, due 2023
Debt Instrument [Line Items]
Outstanding balance	310,354	141,106
Commercial Real Estate Loan, due 2019 to 2028
Debt Instrument [Line Items]
Outstanding balance	19,950	20,475
Senior Promissory Notes, due 2023 to 2028
Debt Instrument [Line Items]
Outstanding balance	10,000	10,000
Other Borrowings, due 2019 to 2023
Debt Instrument [Line Items]
Other Borrowings, due 2019 to 2023	$ 4,153	$ 4,388

Long-Term Obligations - Narrati

Long-Term Obligations - Narrative (Details) - USD ($)	6 Months Ended	12 Months Ended
	Jun. 29, 2019	Dec. 29, 2018
Debt Instrument [Line Items]
Weighted average interest rate for revolving credit facility (in hundredths)	3.80%
Loan receivable	$ 804,000
Commercial Real Estate Loan
Debt Instrument [Line Items]
Interest rate	4.60%
Revolving Credit Facility
Debt Instrument [Line Items]
Long-term debt	$ 310,354,000	$ 141,106,000
Remaining borrowing capacity	$ 89,772,000
Revolving Credit Facility | Credit Agreement
Debt Instrument [Line Items]
Term of debt agreement		5 years
Borrowing capacity available under committed portion		$ 400,000,000
Additional borrowing capacity under uncommitted portion		$ 150,000,000
Basis spread on variable rate floor (as a percentage)		0.00%
Maximum amount of unrestricted U.S. cash		$ 30,000,000
Maximum consolidated leverage ratio after acquisition		3.75
Maximum consolidated interest charge coverage ratio after acquisition		4
Revolving Credit Facility | Credit Agreement | Minimum
Debt Instrument [Line Items]
Term of debt agreement	1 month
Revolving Credit Facility | Credit Agreement | Base Rate | Minimum
Debt Instrument [Line Items]
Basis spread on variable rate (as a percentage)		0.00%
Revolving Credit Facility | Credit Agreement | Base Rate | Maximum
Debt Instrument [Line Items]
Basis spread on variable rate (as a percentage)		1.25%
Revolving Credit Facility | Credit Agreement | LIBOR | Minimum
Debt Instrument [Line Items]
Basis spread on variable rate (as a percentage)		1.00%
Revolving Credit Facility | Credit Agreement | LIBOR | Maximum
Debt Instrument [Line Items]
Basis spread on variable rate (as a percentage)		2.25%
Revolving Credit Facility | Credit Agreement | Federal Funds Rate
Debt Instrument [Line Items]
Basis spread on variable rate (as a percentage)		0.50%
Revolving Credit Facility | Credit Agreement | Thirty-Day LIBOR
Debt Instrument [Line Items]
Basis spread on variable rate (as a percentage)		0.50%
Revolving Credit Facility | Canadian Denominated Borrowing
Debt Instrument [Line Items]
Long-term debt	$ 35,288,000
Revolving Credit Facility | Euro-Denominated Borrowing
Debt Instrument [Line Items]
Long-term debt	16,066,000
Secured Debt | Commercial Real Estate Loan
Debt Instrument [Line Items]
Term of debt agreement		10 years
Long-term debt		$ 10,500,000
Principal amount		21,000,000
Quarterly installment amount		$ 262,500
Fixed interest rate		4.45%
Senior Promissory Notes, due 2023 to 2028
Debt Instrument [Line Items]
Long-term debt	$ 10,000,000	$ 10,000,000
Senior Promissory Notes, due 2023 to 2028 | Note Purchase Agreement
Debt Instrument [Line Items]
Additional borrowing capacity under uncommitted portion		115,000,000
Principal amount		$ 10,000,000
Fixed interest rate		4.90%
Senior Promissory Notes, due 2023 to 2028 | Note Purchase Agreement | Minimum
Debt Instrument [Line Items]
Minimum debt prepayment increment		$ 1,000,000
Capital Lease Obligations | Sale Leaseback Arrangement
Debt Instrument [Line Items]
Interest rate	1.79%
Net purchase option	$ 1,513,000
Outstanding balance	$ 3,930,000
Debt Covenant Period One | Secured Debt | Commercial Real Estate Loan
Debt Instrument [Line Items]
Prepayment fee		2.00%
Debt Covenant Period Two | Secured Debt | Commercial Real Estate Loan
Debt Instrument [Line Items]
Prepayment fee		1.00%

Stock-Based Compensation - Narr

Stock-Based Compensation - Narrative (Details) - USD ($) $ in Thousands	May 16, 2019	Jun. 29, 2019	Jun. 30, 2018	Jun. 29, 2019	Jun. 30, 2018
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense		$ 1,914	$ 2,146	$ 3,467	$ 3,610
Unrecognized compensation expense related to stock awards		$ 8,187		$ 8,187
Recognition period				1 year 9 months 18 days
Share-based Payment Arrangement, Nonemployee | Director | Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of units granted	7,432
Aggregate grant date fair value	$ 656

Retirement Benefit Plans - Comp

Retirement Benefit Plans - Components of Net Periodic Benefit Cost (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 29, 2019	Jun. 30, 2018	Jun. 29, 2019	Jun. 30, 2018
Pension Benefits | U.S.
Defined Benefit Plan Disclosure [Line Items]
Service Cost	$ 0	$ 175	$ 0	$ 350
Interest Cost	284	298	567	596
Expected Return on Plan Assets	(248)	(322)	(497)	(644)
Recognized Net Actuarial Loss	8	135	16	270
Amortization of Prior Service Cost	0	0	0	0
Net Periodic Benefit Cost	$ 44	$ 286	$ 86	$ 572
The weighted average assumptions used to determine net periodic benefit cost are as follows:
Discount Rate (as a percentage)	4.10%	3.51%	4.10%	3.51%
Expected Long-Term Return on Plan Assets (as a percentage)	4.10%	4.50%	4.10%	4.50%
Rate of Compensation Increase (as a percentage)	0.00%	3.00%	0.00%	3.00%
Pension Benefits | Non-U.S.
Defined Benefit Plan Disclosure [Line Items]
Service Cost	$ 43	$ 35	$ 86	$ 71
Interest Cost	28	30	57	60
Expected Return on Plan Assets	(17)	(11)	(34)	(22)
Recognized Net Actuarial Loss	5	15	10	31
Amortization of Prior Service Cost	0	2	0	4
Net Periodic Benefit Cost	$ 59	$ 71	$ 119	$ 144
The weighted average assumptions used to determine net periodic benefit cost are as follows:
Discount Rate (as a percentage)	2.81%	3.80%	2.81%	3.80%
Expected Long-Term Return on Plan Assets (as a percentage)	9.22%	7.43%	9.22%	7.43%
Rate of Compensation Increase (as a percentage)	2.99%	3.69%	2.99%	3.69%
Other Postretirement Benefits Plan
Defined Benefit Plan Disclosure [Line Items]
Service Cost	$ 1	$ 53	$ 2	$ 106
Interest Cost	37	43	75	86
Expected Return on Plan Assets	(1)	(1)	(2)	(2)
Recognized Net Actuarial Loss	3	34	6	68
Amortization of Prior Service Cost	0	22	0	44
Net Periodic Benefit Cost	$ 40	$ 151	$ 81	$ 302
The weighted average assumptions used to determine net periodic benefit cost are as follows:
Discount Rate (as a percentage)	4.44%	3.64%	4.44%	3.64%
Expected Long-Term Return on Plan Assets (as a percentage)	9.22%	7.43%	9.22%	7.43%
Rate of Compensation Increase (as a percentage)	5.57%	3.07%	5.57%	3.07%

Retirement Benefit Plans - Narr

Retirement Benefit Plans - Narrative (Details) $ in Thousands	Jun. 29, 2019USD ($)
Retirement Plan
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Liability, defined benefit plan	$ 1,055
Restoration Plan
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Liability, defined benefit plan	$ 2,324

Leases - Narrative (Details)

Leases - Narrative (Details)	6 Months Ended
	Jun. 29, 2019
Lessee, Lease, Description [Line Items]
Lease, remaining term (years)	15 years
Lease, option to extend, term (years)	5 years
China and Canada
Lessee, Lease, Description [Line Items]
Lease, option to extend, term (years)	10 years

Leases - Components of Lease Ex

Leases - Components of Lease Expense (Details) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
	Jun. 29, 2019	Jun. 29, 2019
Leases [Abstract]
Operating Lease Cost	$ 1,381	$ 2,751
Short-Term Lease Cost	179	364
Finance Lease Cost:
ROU asset amortization	305	598
Interest on lease liabilities	25	44
Total Finance Lease Cost	330	642
Total Lease Costs	$ 1,890	$ 3,757

Leases - Supplemental Cash Flow

Leases - Supplemental Cash Flow Information to Leases (Details) $ in Thousands	6 Months Ended
	Jun. 29, 2019USD ($)
Leases [Abstract]
Operating cash flows from operating leases	$ 2,789
Operating cash flows from finance leases	44
Financing cash flows from finance leases	564
Right-of-use asset obtained in exchange for operating lease liability	27,428
Right-of-use asset obtained in exchange for finance lease liability	$ 3,050

Leases - Supplemental Cash Fl_2

Leases - Supplemental Cash Flow Information to Leases Footnote (Details) $ in Thousands	6 Months Ended
	Jun. 29, 2019USD ($)
Lessee, Lease, Description [Line Items]
Right-of-use asset obtained in exchange for operating lease liability	$ 27,428
Right-of-use asset obtained in exchange for finance lease liability	3,050
ASU No. 2016-02
Lessee, Lease, Description [Line Items]
Right-of-use asset obtained in exchange for operating lease liability	12,110
Right-of-use asset obtained in exchange for finance lease liability	1,699
ASU No. 2016-02 | Syntron Material Handling Group, LLC
Lessee, Lease, Description [Line Items]
Right-of-use asset obtained in exchange for operating lease liability	10,994
Right-of-use asset obtained in exchange for finance lease liability	$ 528

Leases - Supplemental Balance S

Leases - Supplemental Balance Sheet Information Related to Leases (Details) $ in Thousands	Jun. 29, 2019USD ($)
Operating Leases:
ROU assets	$ 28,565
Short-term liabilities	4,183
Long-term liabilities	25,866
Total operating lease liabilities	30,049
Finance Leases:
ROU assets, at cost	3,886
ROU assets accumulated amortization	(1,329)
ROU assets, net	2,557
Short-term obligations	1,149
Long-term obligations	1,321
Total finance lease liabilities	$ 2,470
Weighted Average Remaining Lease Term:
Operating lease, weighted average remaining lease term (in years)	10 years 6 months
Finance lease, weighted average remaining lease term (in years)	2 years 4 months 24 days
Weighted Average Discount Rate:
Operating lease, weighted average discount rate (percent)	3.95%
Finance lease, weighted average discount rate (percent)	4.18%

Leases - Maturities of Lease Li

Leases - Maturities of Lease Liabilities (Details) $ in Thousands	Jun. 29, 2019USD ($)
Operating Leases
2019	$ 2,732
2020	4,979
2021	4,178
2022	3,464
2023	3,081
Thereafter	18,681
Total Future Lease Payments	37,115
Less: Imputed Interest	(7,066)
Present Value of Lease Payments	30,049
Finance Leases
2019	651
2020	1,089
2021	641
2022	171
2023	43
Thereafter	0
Total Future Lease Payments	2,595
Less: Imputed Interest	(125)
Present Value of Lease Payments	$ 2,470

Leases - Future Minimum Lease P

Leases - Future Minimum Lease Payments for Noncancelable Operating Leases (Details) $ in Thousands	Dec. 29, 2018USD ($)
Leases [Abstract]
2019	$ 4,507
2020	3,275
2021	2,230
2022	1,579
2023	987
Thereafter	1,713
Total Future Minimum Lease Payments	$ 14,291

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Items - Components of AOCI (Details) $ in Thousands	6 Months Ended
	Jun. 29, 2019USD ($)
Total Stockholders' Equity [Roll Forward]
Beginning balance	$ 374,571
Other comprehensive income (loss) before reclassifications	1,032
Reclassifications from AOCI	93
Net current period other comprehensive income (loss)	1,125
Ending balance	400,560
Foreign Currency Translation Adjustment
Total Stockholders' Equity [Roll Forward]
Beginning balance	(34,804)
Other comprehensive income (loss) before reclassifications	1,498
Reclassifications from AOCI	0
Net current period other comprehensive income (loss)	1,498
Ending balance	(33,306)
Pension and Other Post-Retirement Benefit Liability Adjustments
Total Stockholders' Equity [Roll Forward]
Beginning balance	(4,375)
Other comprehensive income (loss) before reclassifications	4
Reclassifications from AOCI	24
Net current period other comprehensive income (loss)	28
Ending balance	(4,347)
Deferred Loss on Cash Flow Hedges
Total Stockholders' Equity [Roll Forward]
Beginning balance	(197)
Other comprehensive income (loss) before reclassifications	(470)
Reclassifications from AOCI	69
Net current period other comprehensive income (loss)	(401)
Ending balance	(598)
Accumulated Other Comprehensive Items
Total Stockholders' Equity [Roll Forward]
Beginning balance	(39,376)
Ending balance	$ (38,251)

Accumulated Other Comprehensi_4

Accumulated Other Comprehensive Items - Reclassification Out of AOCI (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 29, 2019	Jun. 30, 2018	Jun. 29, 2019	Jun. 30, 2018
Reclassification Adjustment out of Accumulated Other Comprehensive Items [Line Items]
Other expense, net	$ (99)	$ (245)	$ (198)	$ (491)
Interest expense	(3,573)	(1,850)	(7,077)	(3,582)
Cost of revenues	(102,794)	(86,749)	(203,595)	(169,863)
Total (expense) income before income taxes	19,529	17,762	34,557	32,631
Income tax benefit (provision)	(3,128)	(5,271)	(7,091)	(9,132)
Net Income Attributable to Kadant	16,304	12,349	27,204	23,207
Reclassification out of Accumulated Other Comprehensive Items
Reclassification Adjustment out of Accumulated Other Comprehensive Items [Line Items]
Net Income Attributable to Kadant	(96)	(152)	(93)	(313)
Reclassification out of Accumulated Other Comprehensive Items | Pension and Other Post-retirement Plans [Member]
Reclassification Adjustment out of Accumulated Other Comprehensive Items [Line Items]
Total (expense) income before income taxes	(16)	(208)	(32)	(417)
Income tax benefit (provision)	4	51	8	103
Net Income Attributable to Kadant	(12)	(157)	(24)	(314)
Reclassification out of Accumulated Other Comprehensive Items | Amortization of net actuarial loss
Reclassification Adjustment out of Accumulated Other Comprehensive Items [Line Items]
Other expense, net	(16)	(184)	(32)	(369)
Reclassification out of Accumulated Other Comprehensive Items | Amortization of prior service cost
Reclassification Adjustment out of Accumulated Other Comprehensive Items [Line Items]
Other expense, net	0	(24)	0	(48)
Reclassification out of Accumulated Other Comprehensive Items | Cash Flow Hedges
Reclassification Adjustment out of Accumulated Other Comprehensive Items [Line Items]
Total (expense) income before income taxes	(122)	7	(102)	2
Income tax benefit (provision)	38	(2)	33	(1)
Net Income Attributable to Kadant	(84)	5	(69)	1
Reclassification out of Accumulated Other Comprehensive Items | Cash Flow Hedges | Interest rate swap agreements
Reclassification Adjustment out of Accumulated Other Comprehensive Items [Line Items]
Interest expense	7	(17)	27	(22)
Reclassification out of Accumulated Other Comprehensive Items | Cash Flow Hedges | Forward currency-exchange contract
Reclassification Adjustment out of Accumulated Other Comprehensive Items [Line Items]
Cost of revenues	$ (129)	$ 24	$ (129)	$ 24

Derivatives - Narrative (Detail

Derivatives - Narrative (Details) - USD ($)	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 29, 2019	Jun. 30, 2018	Jun. 29, 2019	Jun. 30, 2018	Dec. 29, 2018	Jan. 02, 2016
Forward Currency-Exchange Contracts [Abstract]
Recognized gains (losses)	$ 5,000	$ 14,000	$ (32,000)	$ 27,000
Interest rate swap agreements
Interest Rate Swaps [Abstract]
Effective portion of cash flow hedge, percentage					100.00%
Cash Flow Hedging | Designated as Hedging Instrument | 2015 Swap Agreement
Interest Rate Swaps [Abstract]
Derivative, notional amount						$ 10,000,000
Fixed rate of interest (in hundredths)						1.50%
Cash Flow Hedging | Designated as Hedging Instrument | 2018 Swap Agreement
Interest Rate Swaps [Abstract]
Derivative, notional amount					$ 15,000,000
Fixed rate of interest (in hundredths)					3.15%
LIBOR | Cash Flow Hedging | Designated as Hedging Instrument | 2018 Swap Agreement
Interest Rate Swaps [Abstract]
Interest rate floor					0.00%

Derivatives - Fair Value of Der

Derivatives - Fair Value of Derivative Instruments (Details) - USD ($) $ in Thousands	Jun. 29, 2019	Dec. 29, 2018
Designated as Hedging Instrument | 2015 Swap Agreement | Other Current Assets
Derivatives in an Asset Position:
Derivatives in an asset position	$ 42	$ 0
Notional amount, Derivative asset	10,000	0
Designated as Hedging Instrument | 2015 Swap Agreement | Other Long-Term Assets
Derivatives in an Asset Position:
Derivatives in an asset position	0	148
Notional amount, Derivative asset	0	10,000
Designated as Hedging Instrument | Forward currency-exchange contract | Other Current Assets
Derivatives in an Asset Position:
Derivatives in an asset position	11	0
Notional amount, Derivative asset	1,134	0
Designated as Hedging Instrument | Forward currency-exchange contract | Other Long-Term Assets
Derivatives in an Asset Position:
Derivatives in an asset position	0	11
Notional amount, Derivative asset	0	842
Designated as Hedging Instrument | Forward currency-exchange contract | Other Current Liabilities
Derivatives in a Liability Position:
Derivatives in a liability position	(13)	(50)
Notional amount, Derivative liability	842	2,946
Designated as Hedging Instrument | 2018 Swap Agreement | Other Long-Term Liabilities
Derivatives in a Liability Position:
Derivatives in a liability position	(829)	(352)
Notional amount, Derivative liability	15,000	15,000
Not Designated as Hedging Instrument | Forward currency-exchange contract | Other Current Assets
Derivatives in an Asset Position:
Derivatives in an asset position	0	9
Notional amount, Derivative asset	39	1,192
Not Designated as Hedging Instrument | Forward currency-exchange contract | Other Current Liabilities
Derivatives in a Liability Position:
Derivatives in a liability position	(19)	(31)
Notional amount, Derivative liability	$ 1,190	$ 1,384

Derivatives - Activity in Accum

Derivatives - Activity in Accumulated Other Comprehensive Items (OCI) (Details) $ in Thousands	6 Months Ended
	Jun. 29, 2019USD ($)
Total Stockholders' Equity [Roll Forward]
Beginning balance	$ 374,571
(Gain) loss reclassified to earnings (a)	93
Loss recognized in AOCI	1,032
Ending balance	400,560
Net unrealized losses included in AOCI expected to be reclassified to earnings over the next 12 months	(102)
Cash Flow Hedges
Total Stockholders' Equity [Roll Forward]
Beginning balance	(197)
(Gain) loss reclassified to earnings (a)	69
Loss recognized in AOCI	(470)
Ending balance	(598)
Cash Flow Hedges | Interest Rate Swap Agreements
Total Stockholders' Equity [Roll Forward]
Beginning balance	(170)
(Gain) loss reclassified to earnings (a)	(20)
Loss recognized in AOCI	(407)
Ending balance	(597)
Cash Flow Hedges | Forward currency-exchange contract
Total Stockholders' Equity [Roll Forward]
Beginning balance	(27)
(Gain) loss reclassified to earnings (a)	89
Loss recognized in AOCI	(63)
Ending balance	$ (1)

Fair Value Measurements and F_3

Fair Value Measurements and Fair Value of Financial Instruments - Fair Value of Assets and Liabilities Measured on a Recurring Basis (Details) - Recurring - USD ($) $ in Thousands	Jun. 29, 2019	Dec. 29, 2018
Assets:
Money market funds and time deposits	$ 5,006	$ 6,902
Banker's acceptance drafts	7,706	7,976
2015 Swap Agreement	42	148
Forward currency-exchange contract(s)	11	20
Liabilities:
2018 Swap Agreement	829	352
Forward currency-exchange contracts	32	81
Level 1
Assets:
Money market funds and time deposits	5,006	6,902
Banker's acceptance drafts	0	0
2015 Swap Agreement	0	0
Forward currency-exchange contract(s)	0	0
Liabilities:
2018 Swap Agreement	0	0
Forward currency-exchange contracts	0	0
Level 2
Assets:
Money market funds and time deposits	0	0
Banker's acceptance drafts	7,706	7,976
2015 Swap Agreement	42	148
Forward currency-exchange contract(s)	11	20
Liabilities:
2018 Swap Agreement	829	352
Forward currency-exchange contracts	32	81
Level 3
Assets:
Money market funds and time deposits	0	0
Banker's acceptance drafts	0	0
2015 Swap Agreement	0	0
Forward currency-exchange contract(s)	0	0
Liabilities:
2018 Swap Agreement	0	0
Forward currency-exchange contracts	$ 0	$ 0

Fair Value Measurements and F_4

Fair Value Measurements and Fair Value of Financial Instruments - Carrying Value and Fair Value of Debt Obligations (Details) - USD ($) $ in Thousands	Jun. 29, 2019	Dec. 29, 2018
Carrying Value
Debt Obligations:
Revolving credit facility	$ 310,354	$ 141,106
Commercial real estate loan	19,950	20,475
Senior promissory notes	10,000	10,000
Debt obligations	340,304	171,581
Fair Value
Debt Obligations:
Revolving credit facility	310,354	141,106
Commercial real estate loan	20,942	20,575
Senior promissory notes	10,617	10,120
Debt obligations	$ 341,913	$ 171,801

Business Segment Information -

Business Segment Information - Summary of Segment Information (Details) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 29, 2019USD ($)	Jun. 30, 2018USD ($)	Jun. 29, 2019USD ($)Segment	Jun. 30, 2018USD ($)	Dec. 29, 2018USD ($)
Segment Reporting [Abstract]
Number of reportable segments | Segment			3
Revenues:
Revenues	$ 177,165	$ 154,913	$ 348,481	$ 304,106
Income Before Provision for Income Taxes:
Total operating income	23,142	19,735	41,717	36,399
Interest expense, net	(3,514)	(1,728)	(6,962)	(3,277)
Other expense, net	(99)	(245)	(198)	(491)
Income Before Provision for Income Taxes	19,529	17,762	34,557	32,631
Capital Expenditures:
Capital expenditures	1,975	5,060	4,143	10,211
Total Assets:
Total Assets	965,791		965,791		$ 725,749
Restructuring costs	0	569	0	1,339
Acquisition transaction costs			843
Operating Segment | Papermaking Systems
Revenues:
Revenues	116,090	118,450	229,282	224,041
Income Before Provision for Income Taxes:
Total operating income	20,061	20,899	38,570	35,483
Capital Expenditures:
Capital expenditures	1,157	3,840	2,514	8,489
Total Assets:
Total Assets	487,865		487,865		462,297
Restructuring costs		569		1,339
Operating Segment | Papermaking Systems | Stock-Preparation
Revenues:
Revenues	50,817	56,376	102,865	101,859
Operating Segment | Papermaking Systems | Fluid-Handling
Revenues:
Revenues	34,713	32,531	67,467	65,417
Operating Segment | Papermaking Systems | Doctoring, Cleaning, & Filtration
Revenues:
Revenues	30,560	29,543	58,950	56,765
Operating Segment | Wood Processing Systems
Revenues:
Revenues	37,869	33,152	71,918	72,293
Income Before Provision for Income Taxes:
Total operating income	8,801	5,313	16,071	12,676
Capital Expenditures:
Capital expenditures	428	1,184	979	1,560
Total Assets:
Total Assets	253,758		253,758		247,553
Acquisition transaction costs				252
Operating Segment | Material Handling Systems
Revenues:
Revenues	20,197	0	40,781	0
Income Before Provision for Income Taxes:
Total operating income	488	0	(865)	0
Capital Expenditures:
Capital expenditures	342	0	380	0
Total Assets:
Total Assets	201,557		201,557		0
Acquisition transaction costs	1,523		5,674
Corporate and Fiber-based Products
Income Before Provision for Income Taxes:
Total operating income	(6,208)	(6,477)	(12,059)	(11,760)
Capital Expenditures:
Capital expenditures	48	36	270	162
Total Assets:
Total Assets	22,611		22,611		$ 15,899
Corporate and Fiber-based Products | Fiber based Products
Revenues:
Revenues	$ 3,009	$ 3,311	$ 6,500	$ 7,772

Restructuring Costs - Narrative

Restructuring Costs - Narrative (Details) ft² in Thousands, $ in Thousands	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 29, 2019USD ($)	Jun. 30, 2018USD ($)	Jun. 29, 2019USD ($)	Jun. 30, 2018USD ($)	Dec. 30, 2017USD ($)ft²Employee
Restructuring Cost and Reserve [Line Items]
Restructuring costs	$ 0	$ 569	$ 0	$ 1,339
Restructuring Plan 2017
Restructuring Cost and Reserve [Line Items]
Restructuring costs				1,339	$ 1,920
Restructuring Plan 2017 | Employee Severance
Restructuring Cost and Reserve [Line Items]
Restructuring costs				(55)	148
Restructuring Plan 2017 | Relocation Of Machinery And Equipment And Administrative Offices
Restructuring Cost and Reserve [Line Items]
Restructuring costs				1,018	1,318
Restructuring Plan 2017 | Employee Retention, Facility Closing, And Other Closure Costs
Restructuring Cost and Reserve [Line Items]
Restructuring costs				$ 376	$ 454
Restructuring Plan 2017 | United States
Restructuring Cost and Reserve [Line Items]
Manufacturing facility square footage (in sqft) | ft²					160
Number of positions eliminated related to restructuring (employee) | Employee					4
Restructuring Plan 2017 | Sweden
Restructuring Cost and Reserve [Line Items]
Number of positions eliminated related to restructuring (employee) | Employee					6

Commitments and Contingencies -

Commitments and Contingencies - Narrative (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 29, 2019	Dec. 29, 2018
Commitments and Contingencies Disclosure [Abstract]
Banker's acceptance drafts, maturity period	6 months
Banker's acceptance drafts with recourse	$ 9,169	$ 12,406