Kadant (KAI) 10-Q 11 May 22 2022 Q1 Quarterly report Financial data

Cover

Cover - shares	3 Months Ended
	Apr. 02, 2022	Apr. 29, 2022
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Apr. 2, 2022
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		11,659,373
Entity Central Index Key	0000886346
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q1
Amendment Flag	false

Condensed Consolidated Balance

Condensed Consolidated Balance Sheet (Unaudited) - USD ($) $ in Thousands	Apr. 02, 2022	Jan. 01, 2022
Current Assets:
Cash and cash equivalents	$ 86,192	$ 91,186
Restricted cash (Note 1)	2,779	2,975
Accounts receivable, net of allowances of $3,067 and $2,735	125,919	117,209
Inventories	143,583	134,356
Contract assets	8,978	8,626
Other current assets	24,825	29,530
Total Current Assets	392,276	383,882
Property, Plant, and Equipment, net of accumulated depreciation of $116,911 and $114,032	105,851	107,989
Other Assets	59,299	44,111
Intangible Assets, Net	192,426	199,343
Goodwill	394,414	396,887
Total Assets	1,144,266	1,132,212
Current Liabilities:
Short-term obligations and current maturities of long-term obligations (Note 5)	4,893	5,356
Accounts payable	67,762	59,250
Accrued payroll and employee benefits	30,690	37,203
Customer deposits	62,432	59,262
Advanced billings	9,599	11,894
Other current liabilities	42,204	48,532
Total Current Liabilities	217,580	221,497
Long-Term Obligations (Note 5)	242,963	264,158
Long-Term Deferred Income Taxes	39,336	34,944
Other Long-Term Liabilities	44,649	45,997
Commitments and Contingencies (Note 11)
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	112,651	115,888
Retained earnings	590,009	551,848
Treasury stock at cost, 2,964,786 and 3,003,419 shares	(72,649)	(73,596)
Accumulated other comprehensive items (Note 7)	(32,302)	(30,350)
Total Kadant Stockholders' Equity	597,855	563,936
Noncontrolling interest	1,883	1,680
Total Stockholders' Equity	599,738	565,616
Total Liabilities and Stockholders' Equity	$ 1,144,266	$ 1,132,212

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheet (Unaudited) (Parenthetical) - USD ($) $ in Thousands	Apr. 02, 2022	Jan. 01, 2022
Stockholders' Equity:
Allowance for credit losses	$ 3,067	$ 2,735
Accumulated depreciation	$ 116,911	$ 114,032
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)	2,964,786	3,003,419

Condensed Consolidated Statemen

Condensed Consolidated Statement of Income (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Apr. 02, 2022	Apr. 03, 2021
Income Statement [Abstract]
Revenue (Notes 1 and 10)	$ 226,480	$ 172,463
Costs and Operating Expenses:
Cost of revenue	128,269	96,748
Selling, general, and administrative expenses	59,168	49,431
Research and development expenses	3,078	2,857
Gain on sale and other expense, net (Note 2)	(20,008)	0
Total Costs and Operating Expenses	170,507	149,036
Operating Income	55,973	23,427
Interest Income	102	65
Interest Expense	(1,234)	(1,111)
Other Expense, Net	(22)	(24)
Income Before Provision for Income Taxes	54,819	22,357
Provision for Income Taxes (Note 4)	13,378	5,561
Net Income	41,441	16,796
Net Income Attributable to Noncontrolling Interest	(249)	(235)
Net Income Attributable to Kadant	$ 41,192	$ 16,561
Earnings per Share Attributable to Kadant (Note 3)
Basic (in dollars per share)	$ 3.54	$ 1.43
Diluted (in dollars per share)	$ 3.53	$ 1.43
Weighted Average Shares (Note 3)
Basic (in shares)	11,630	11,553
Diluted (in shares)	11,655	11,612

Condensed Consolidated Statem_2

Condensed Consolidated Statement of Comprehensive Income (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Apr. 02, 2022	Apr. 03, 2021
Statement of Comprehensive Income [Abstract]
Net Income	$ 41,441	$ 16,796
Other Comprehensive Items:
Foreign currency translation adjustment	(2,284)	(4,750)
Post-retirement liability adjustments, net (net of tax provision of $2 and $10)	9	28
Deferred gain on cash flow hedges (net of tax provision of $68 and $19)	277	113
Other comprehensive items	(1,998)	(4,609)
Comprehensive Income	39,443	12,187
Comprehensive Income Attributable to Noncontrolling Interest	(203)	(174)
Comprehensive Income Attributable to Kadant	$ 39,240	$ 12,013

Condensed Consolidated Statem_3

Condensed Consolidated Statement of Comprehensive Income (Unaudited) (Parenthetical) - USD ($) $ in Thousands	3 Months Ended
	Apr. 02, 2022	Apr. 03, 2021
Other Comprehensive Items:
Post-retirement liability adjustments, net, tax	$ 2	$ 10
Deferred gain on cash flow hedges, tax	$ 68	$ 19

Condensed Consolidated Statem_4

Condensed Consolidated Statement of Cash Flows (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Apr. 02, 2022	Apr. 03, 2021
Operating Activities
Net Income Attributable to Kadant	$ 41,192	$ 16,561
Net income attributable to noncontrolling interest	249	235
Net Income	41,441	16,796
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	9,445	7,686
Stock-based compensation expense	2,260	1,499
Provision for losses (benefit) on accounts receivable	208	(129)
Gain on the sale of assets (Note 2)	(20,190)	0
Noncash impairment costs (Note 2)	182	0
Other items, net	6,117	809
Changes in assets and liabilities, net of effects of acquisitions:
Accounts receivable	(9,127)	(13,955)
Contract assets	(409)	1,231
Inventories	(9,359)	(6,612)
Other assets	1,113	(3,182)
Accounts payable	8,864	8,031
Customer deposits	3,329	8,464
Other liabilities	(10,106)	(1,546)
Net cash provided by operating activities	23,768	19,092
Investing Activities
Acquisitions, net of cash acquired	(62)	(125)
Purchases of property, plant, and equipment	(2,868)	(2,259)
Proceeds from sale of property, plant, and equipment	1,595	32
Other	44	0
Net cash used in investing activities	(1,291)	(2,352)
Financing Activities
Repayment of short- and long-term obligations	(35,064)	(19,563)
Proceeds from issuance of short- and long-term obligations	15,516	10,139
Tax withholding payments related to stock-based compensation	(4,550)	(3,388)
Dividends paid	(2,905)	(2,770)
Net cash used in financing activities	(27,003)	(15,582)
Exchange Rate Effect on Cash, Cash Equivalents, and Restricted Cash	(664)	(1,090)
(Decrease) Increase in Cash, Cash Equivalents, and Restricted Cash	(5,190)	68
Cash, Cash Equivalents, and Restricted Cash at Beginning of Period	94,161	66,640
Cash, Cash Equivalents, and Restricted Cash at End of Period	$ 88,971	$ 66,708

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
Beginning balance (in shares) at Jan. 02, 2021		14,624,159			3,081,919
Beginning balance at Jan. 02, 2021	$ 496,905	$ 146	$ 110,824	$ 479,400	$ (75,519)	$ (19,492)	$ 1,546
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net Income	16,796			16,561			235
Dividend declared – common stock	(2,894)			(2,894)
Activity under stock plans (in shares)					(35,540)
Activity under stock plans	(1,890)		(2,760)		$ 870
Other comprehensive items	(4,609)					(4,548)	(61)
Ending balance (in shares) at Apr. 03, 2021		14,624,159			3,046,379
Ending balance at Apr. 03, 2021	504,308	$ 146	108,064	493,067	$ (74,649)	(24,040)	1,720
Beginning balance (in shares) at Jan. 01, 2022		14,624,159			3,003,419
Beginning balance at Jan. 01, 2022	565,616	$ 146	115,888	551,848	$ (73,596)	(30,350)	1,680
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net Income	41,441			41,192			249
Dividend declared – common stock	(3,031)			(3,031)
Activity under stock plans (in shares)					(38,633)
Activity under stock plans	(2,290)		(3,237)		$ 947
Other comprehensive items	(1,998)					(1,952)	(46)
Ending balance (in shares) at Apr. 02, 2022		14,624,159			2,964,786
Ending balance at Apr. 02, 2022	$ 599,738	$ 146	$ 112,651	$ 590,009	$ (72,649)	$ (32,302)	$ 1,883

Condensed Consolidated Statem_6

Condensed Consolidated Statement of Stockholders' Equity (Unaudited) (Parenthetical) - $ / shares	3 Months Ended
	Apr. 02, 2022	Apr. 03, 2021
Statement of Stockholders' Equity [Abstract]
Dividend declared – common stock (in dollars per share)	$ 0.26	$ 0.25

Nature of Operations and Summar

Nature of Operations and Summary of Significant Accounting Policies	3 Months Ended
	Apr. 02, 2022
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 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 technologies and engineered systems that drive Sustainable Industrial Processing. Its products and services play an integral role in enhancing efficiency, optimizing energy utilization, and maximizing productivity in process industries while helping customers advance their sustainability initiatives with products that reduce waste or generate more yield with fewer inputs, particularly fiber, energy, and water. Producing more while consuming less is a core aspect of Sustainable Industrial Processing and a major element of the strategic focus of the Company's three reportable operating segments: Flow Control, Industrial Processing, and Material Handling. 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 April 2, 2022, its results of operations, comprehensive income, cash flows and stockholders' equity for the three-month periods ended April 2, 2022 and April 3, 2021. 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 January 1, 2022 has been derived from the consolidated financial statements contained in the Company's Annual Report on Form 10-K for the fiscal year ended January 1, 2022. The condensed consolidated financial statements and related notes are presented as permitted by the rules and regulations of the Securities and Exchange Commission (SEC) 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 January 1, 2022, 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 revenue 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. Note 1 to the consolidated financial statements in the Company's Annual Report on Form 10-K for the fiscal year ended January 1, 2022 describes 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 three months ended April 2, 2022. Supplemental Cash Flow Information Three Months Ended (In thousands) April 2, April 3, Cash Paid for Interest $ 1,017 $ 892 Cash Paid for Income Taxes, Net of Refunds $ 8,013 $ 5,344 Non-Cash Investing Activities: Fair value of assets acquired $ (983) $ — Cash paid for acquired businesses (62) (125) Liabilities Assumed of Acquired Businesses $ (1,045) $ (125) Purchases of property, plant, and equipment in accounts payable $ 264 $ 169 Non-Cash Financing Activities: Issuance of Company common stock upon vesting of restricted stock units $ 4,578 $ 3,203 Dividends declared but unpaid $ 3,031 $ 2,894 Restricted Cash The Company's restricted cash generally serves as collateral for certain banker's acceptance drafts issued to vendors and for bank guarantees 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) April 2, April 3, January 1, January 2, Cash and cash equivalents $ 86,192 $ 65,982 $ 91,186 $ 65,682 Restricted cash 2,779 726 2,975 958 Total Cash, Cash Equivalents, and Restricted Cash $ 88,971 $ 66,708 $ 94,161 $ 66,640 Inventories The components of inventories are as follows: April 2, January 1, (In thousands) Raw Materials $ 61,771 $ 59,177 Work in Process 32,215 29,448 Finished Goods 49,597 45,731 $ 143,583 $ 134,356 Intangible Assets, Net Gross intangible assets were $340,947,000 at April 2, 2022 and January 1, 2022. Intangible assets are recorded at fair value at the date of acquisition. Subsequent impairment charges are reflected as a reduction in the gross balance, as applicable. 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. Accumulated amortization was $141,122,000 at April 2, 2022 and $135,327,000 at January 1, 2022. Goodwill The changes in the carrying amount of goodwill by segment are as follows: (In thousands) Flow Control Industrial Processing Material Handling Total Balance at January 1, 2022 Gross balance $ 123,589 $ 214,982 $ 143,825 $ 482,396 Accumulated impairment losses — (85,509) — (85,509) Net balance 123,589 129,473 143,825 396,887 2022 Activity Acquisitions (a) 625 — (482) 143 Currency translation (1,632) (6) (978) (2,616) Total 2022 activity (1,007) (6) (1,460) (2,473) Balance at April 2, 2022 Gross balance 122,582 214,976 142,365 479,923 Accumulated impairment losses — (85,509) — (85,509) Net balance $ 122,582 $ 129,467 $ 142,365 $ 394,414 (a) Relates to adjustments to the purchase price allocation for acquisitions completed in 2021, principally for inventory, machinery and equipment, and deferred taxes. Measurement period adjustments in 2022 were not material to the Company's results of operations. The final purchase accounting and purchase price allocations remain subject to change as the Company continues to refine its preliminary valuation of certain acquired assets and liabilities assumed and the valuation of acquired intangibles, which may result in adjustments to the assets and liabilities, including goodwill. 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 during a defined period of time. The Company provides for the estimated cost of product warranties at the time of sale based on historical occurrence rates and repair costs, as well as knowledge of any specific warranty problems that indicate projected warranty costs may vary from historical patterns. The Company negotiates the terms regarding warranty coverage and length of warranty depending on the products and applications. The Company's liability for warranties is included in other current liabilities in the accompanying condensed consolidated balance sheet. The changes in the carrying amount of product warranty obligations are as follows: Three Months Ended (In thousands) April 2, April 3, Balance at Beginning of Year $ 7,298 $ 7,064 Provision charged to expense 1,462 1,664 Usage (1,538) (1,361) Currency translation (74) (133) Balance at End of Period $ 7,148 $ 7,234 Revenue Recognition Most of the Company’s revenue relates to products and services that require minimal customization and 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 remaining portion of the Company’s revenue is recognized over time 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. Most of the contracts recognized on an over time basis are for large capital projects. These projects 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 April 2, April 3, (In thousands) 2022 2021 Point in Time $ 203,311 $ 154,417 Over Time 23,169 18,046 $ 226,480 $ 172,463 The Company disaggregates its revenue from contracts with customers by reportable operating segment, product type and geography as this best depicts how its revenue is affected by economic factors. The following table presents the disaggregation of revenue by product type and geography: Three Months Ended April 2, April 3, (In thousands) 2022 2021 Revenue by Product Type: Parts and consumables $ 146,244 $ 118,107 Capital 80,236 54,356 $ 226,480 $ 172,463 Revenue by Geography (based on customer location): North America $ 124,336 $ 95,092 Europe 58,366 44,641 Asia 31,987 21,813 Rest of world 11,791 10,917 $ 226,480 $ 172,463 See Note 10 , Business Segment Information, for information on the disaggregation of revenue by reportable operating segment. The following table presents contract balances from contracts with customers: April 2, January 1, (In thousands) Contract Assets $ 8,978 $ 8,626 Contract Liabilities $ 77,450 $ 77,004 Contract assets represent unbilled revenue 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 short- and long-term customer deposits, advanced billings, and deferred revenue. Deferred revenue is included in other current liabilities and long-term customer deposits are included in other long-term 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 advance 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 $34,477,000 in the first quarter of 2022 and $17,140,000 in the first quarter of 2021 that was included in the contract liabilities balance at the beginning of 2022 and 2021, respectively. The majority of the Company's contracts for capital equipment have an original expected duration of one year or less. Certain capital contracts require long lead times and could take up to 24 months to complete. For contracts with an original expected duration of over one year, the aggregate amount of the transaction price allocated to the remaining unsatisfied or partially unsatisfied performance obligations as of April 2, 2022 was $48,599,000. The Company will recognize revenue for these performance obligations as they are satisfied, approximately 56% of which is expected to occur within the next twelve months and the remaining 44% after the first quarter of 2023. 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 non-interest bearing obligations of the issuing bank and generally mature within six months of the origination date. The Company's Chinese 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 $8,147,000 at April 2, 2022 and $8,049,000 at January 1, 2022, 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. Recent Accounting Pronouncements Not Yet Adopted Reference Rate Reform (Topic 848), Facilitation of the Effects of Reference Rate Reform on Financial Reporting. In March 2020, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) No. 2020-04, which provides optional expedients and exceptions for applying GAAP to contracts, hedging relationships, and other transactions affected by the discontinuation of reference rates, such as the London Interbank Offered Rate (LIBOR), if certain criteria are met. Generally, contract modifications related to reference rate reform may be considered an event that does not require remeasurement or reassessment of a previous accounting determination at the modification date. The guidance in this ASU is applicable to the Company's existing contracts and hedging relationships that reference LIBOR and may be adopted prospectively through December 31, 2022. The Company is currently evaluating the effects that the adoption of this ASU will have on its consolidated financial statements. Business Combinations (Topic 805), Accounting for Contract Assets and Contract Liabilities from Contracts with Customers. In October 2021, the FASB issued ASU 2021-08, which requires entities to recognize and measure contract assets and contract liabilities acquired in a business combination in accordance with ASU 2014-09, Revenue from Contracts with Customers (Topic 606)

Gain on Sale and Other Expense,

Gain on Sale and Other Expense, Net	3 Months Ended
	Apr. 02, 2022
Property, Plant and Equipment [Abstract]
Gain on Sale and Other Expense, Net	Gain on Sale and Other Expense, Net The Company entered into several agreements with the local government in China to sell the existing manufacturing building and land use rights of one of its subsidiaries in China for approximately $25,159,000. This subsidiary, which is part of the stock preparation product line within the Company's Industrial Processing segment, will continue to occupy its current facility until construction of a new facility is complete. The agreements became effective in the first quarter of 2022 after a 31% down payment was received, including 25% in 2021 and 6% in the first quarter of 2022, and a land use right in a new location was secured. As a result, the Company recognized a gain on the sale of these assets of $20,190,000, or $15,143,000, net of deferred taxes of $5,047,000, in the first quarter of 2022. A $16,082,000 receivable was recognized for the present value of the remaining amount of the sale proceeds, which is due the earlier of when the government sells the property or within two years from the effective date of the agreements. This receivable is included in other assets in the accompanying condensed consolidated balance sheet. In addition, the Company recognized an impairment charge of $182,000 in the first quarter of 2022 associated with the write-down of certain fixed assets that will not be moved to the new facility.

Earnings per Share

Earnings per Share	3 Months Ended
	Apr. 02, 2022
Earnings Per Share [Abstract]
Earnings per Share	Earnings per Share Basic and diluted earnings per share (EPS) were calculated as follows: Three Months Ended April 2, April 3, (In thousands, except per share amounts) Net Income Attributable to Kadant $ 41,192 $ 16,561 Basic Weighted Average Shares 11,630 11,553 Effect of Stock Options, Restricted Stock Units and Employee Stock Purchase Plan Shares 25 59 Diluted Weighted Average Shares 11,655 11,612 Basic Earnings per Share $ 3.54 $ 1.43 Diluted Earnings per Share $ 3.53 $ 1.43 The effect of outstanding and unvested restricted stock units (RSUs) of the Company's common stock totaling 17,000 shares in the first quarter of 2022 and 44,000 shares in the first quarter of 2021 were 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	3 Months Ended
	Apr. 02, 2022
Income Tax Disclosure [Abstract]
Provision for Income Taxes	Provision for Income Taxes The provision for income taxes was $13,378,000 in the first three months of 2022 and $5,561,000 in the first three months of 2021. The effective tax rate of 24% in the first three months of 2022 was higher than the Company's statutory rate of 21% primarily due to the distribution of the Company's worldwide earnings, nondeductible expenses, state taxes, and tax expense associated with the Global Intangible Low-Taxed Income (GILTI) provisions. These increases in tax expense were offset in part by a decrease in tax related to the net excess income tax benefits from stock-based compensation arrangements and the reversal of tax reserves associated with uncertain tax positions. The effective tax rate of 25% in the first three months of 2021 was higher than the Company's statutory rate of 21% primarily due to nondeductible expenses, the distribution of the Company's worldwide earnings, state taxes, and tax expense associated with the GILTI provisions. These increases in tax expense were offset in part by a decrease in tax related to the net excess income tax benefits from stock-based compensation arrangements.

Short- and Long-Term Obligation

Short- and Long-Term Obligations	3 Months Ended
	Apr. 02, 2022
Debt Disclosure [Abstract]
Short- and Long-Term Obligations	Short- and Long-Term Obligations Short- and long-term obligations are as follows: April 2, January 1, (In thousands) Revolving Credit Facility, due 2023 $ 229,483 $ 250,267 Senior Promissory Notes, due 2023 to 2028 10,000 10,000 Finance Leases, due 2022 to 2026 1,320 1,610 Other Borrowings, due 2022 to 2028 7,053 7,637 Total 247,856 269,514 Less: Short-term Obligations and Current Maturities of Long-Term Obligations (4,893) (5,356) Long-Term Obligations $ 242,963 $ 264,158 See Note 9 , Fair Value Measurements and Fair Value of Financial Instruments, for the fair value information related to the Company's long-term obligations. Revolving Credit Facility The Company entered into an unsecured multi-currency revolving credit facility, dated as of March 1, 2017 (as amended and restated to date, the Credit Agreement), which matures on December 14, 2023. Pursuant to the Credit Agreement, the Company has a borrowing capacity of $400,000,000, with an uncommitted, unsecured incremental borrowing facility of $150,000,000. Interest on borrowings outstanding accrues and is payable in arrears calculated at one of the following rates selected by the Company: (i) the Base Rate, as defined, plus an applicable margin of 0% to 1.25%, or (ii) Eurocurrency Rate, CDOR Rate and RFR (with a zero percent floor), as applicable and as defined, plus an applicable margin of 1% to 2.25%. The 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 as defined in the Credit Agreement. The obligations 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, 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, if the Company elects, 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. As of April 2, 2022, the outstanding balance under the Credit Agreement was $229,483,000, which included $78,483,000 of euro-denominated borrowings. As of April 2, 2022, the Company had $169,977,000 of borrowing capacity available under its Credit Agreement, which was calculated by translating its foreign-denominated borrowings using borrowing date foreign exchange rates. The weighted average interest rate for the outstanding balance under the Credit Agreement was 1.73% as of April 2, 2022. See Note 8 , Derivatives, under the heading Interest Rate Swap Agreement, for information relating to the swap agreement. 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 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. The Initial 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 April 2, 2022, 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 vehicles. 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 current assets in the accompanying condensed consolidated balance sheet, was $1,435,000 at April 2, 2022. The lease arrangement provides for a fixed price purchase option, net of the projected loan receivable, of $1,469,000 at the end of the lease term in August 2022. If the Company does not exercise the purchase option for the facility, it will receive cash from the landlord to settle the loan receivable. As of April 2, 2022, $3,152,000 was outstanding under this obligation.

Stock-Based Compensation

Stock-Based Compensation	3 Months Ended
	Apr. 02, 2022
Share-based Payment Arrangement [Abstract]
Stock-Based Compensation	Stock-Based CompensationThe Company recognized stock-based compensation expense of $2,260,000 in the first quarter of 2022 and $1,499,000 in the first quarter of 2021 within selling, general, and administrative (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 $11,628,000 at April 2, 2022, which will be recognized over a weighted average period of 2.0 years.

Accumulated Other Comprehensive

Accumulated Other Comprehensive Items	3 Months Ended
	Apr. 02, 2022
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
Accumulated Other Comprehensive Items	Accumulated Other Comprehensive Items Comprehensive income 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 Post-Retirement Benefit Liability Adjustments Deferred Loss on Cash Flow Hedges Total Balance at January 1, 2022 $ (29,096) $ (792) $ (462) $ (30,350) Other comprehensive items before reclassifications (2,238) 2 193 (2,043) Reclassifications from AOCI — 7 84 91 Net current period other comprehensive items (2,238) 9 277 (1,952) Balance at April 2, 2022 $ (31,334) $ (783) $ (185) $ (32,302) Amounts reclassified from AOCI are as follows: Three Months Ended (In thousands) April 2, April 3, Statement of Income Line Item Post-retirement Benefit Plans Recognized net actuarial loss $ (7) $ (11) Other expense, net Amortization of prior service cost (3) (3) Other expense, net Total expense before income taxes (10) (14) Income tax benefit 3 4 Provision for income taxes (7) (10) Cash Flow Hedges (a) Interest rate swap agreements (111) (109) Interest expense Total expense before income taxes (111) (109) Income tax benefit 27 26 Provision for income taxes (84) (83) Total Reclassifications $ (91) $ (93) (a) See Note 8 , Derivatives, for additional information.

Derivatives

Derivatives	3 Months Ended
	Apr. 02, 2022
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivatives	Derivatives Interest Rate Swap Agreement In 2018, the Company entered into an interest rate swap agreement (2018 Swap Agreement) with Citizens Bank to hedge its exposure to movements in USD LIBOR on its U.S. dollar-denominated debt. The 2018 Swap Agreement has a $15,000,000 notional value and expires on June 30, 2023. On a quarterly basis, the Company receives three-month USD LIBOR, which is subject to a zero percent floor, and pays a fixed rate of interest of 3.15% plus an applicable margin as defined in the Credit Agreement. The Company designated its 2018 Swap Agreement as a cash flow hedge and structured it to be 100% effective. Unrealized gains and losses related to the fair value of the 2018 Swap Agreement are recorded to AOCI, net of tax. In the event of early termination, the Company will receive from or pay to the counterparty the fair value of the 2018 Swap Agreement, and the unrealized gain or loss outstanding will be recognized in earnings. The counterparty to the 2018 Swap Agreement could demand an early termination of that agreement 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 it were to be unable to cure the default. See Note 5 , Short- and Long-Term Obligations, for further details. Forward Currency-Exchange Contracts The Company uses forward currency-exchange contracts that generally 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 the functional currencies of the Company's subsidiaries. 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. Gains and losses reported within SG&A expenses in the accompanying condensed consolidated statement of income associated with the Company's forward currency-exchange contracts that were not designated as hedges were not material for the three-month periods ended April 2, 2022 and April 3, 2021. The following table summarizes the fair value of derivative instruments in the accompanying condensed consolidated balance sheet: April 2, 2022 January 1, 2022 Balance Sheet Location Asset (Liability) (a) Notional Amount (b) Asset (Liability) (a) Notional Amount (In thousands) Derivatives Designated as Hedging Instruments: Derivatives in a Liability Position: Forward currency-exchange contract Other Current Liabilities $ (66) $ 842 $ (44) $ 842 2018 Swap Agreement Other Long-Term Liabilities $ (179) $ 15,000 $ (550) $ 15,000 Derivatives Not Designated as Hedging Instruments: Derivatives in an Asset Position: Forward currency-exchange contracts Other Current Assets $ — $ — $ 14 $ 1,200 (a) See Note 9 , Fair Value Measurements and Fair Value of Financial Instruments, for the fair value measurements relating to these financial instruments. (b) The 2022 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 three months ended April 2, 2022: (In thousands) Interest Rate Swap Forward Currency- Total Unrealized (Loss) Gain, Net of Tax, at January 1, 2022 $ (429) $ (33) $ (462) Loss reclassified to earnings (a) 84 — 84 Gain (loss) recognized in AOCI 209 (16) 193 Unrealized Loss, Net of Tax, at April 2, 2022 $ (136) $ (49) $ (185) (a) See Note 7 , Accumulated Other Comprehensive Items, for the income statement classification. As of April 2, 2022, the Company expects to reclassify losses of $184,000 from AOCI to earnings over the next twelve months based on the estimated cash flows of the 2018 Swap Agreement and the maturity date of the forward currency-exchange contract.

Fair Value Measurements and Fai

Fair Value Measurements and Fair Value of Financial Instruments	3 Months Ended
	Apr. 02, 2022
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: Fair Value as of April 2, 2022 (In thousands) Level 1 Level 2 Level 3 Total Assets: Money market funds and time deposits $ 14,175 $ — $ — $ 14,175 Banker's acceptance drafts (a) $ — $ 8,147 $ — $ 8,147 Liabilities: 2018 Swap Agreement $ — $ 179 $ — $ 179 Forward currency-exchange contract $ — $ 66 $ — $ 66 Fair Value as of January 1, 2022 (In thousands) Level 1 Level 2 Level 3 Total Assets: Money market funds and time deposits $ 13,458 $ — $ — $ 13,458 Banker's acceptance drafts (a) $ — $ 8,049 $ — $ 8,049 Forward currency-exchange contracts $ — $ 14 $ — $ 14 Liabilities: 2018 Swap Agreement $ — $ 550 $ — $ 550 Forward currency-exchange contracts $ — $ 44 $ — $ 44 (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 three months of 2022. 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 forward currency-exchange contracts are based on quoted forward foreign exchange rates at the reporting date. The fair value of the 2018 Swap Agreement is based on USD LIBOR yield curves at the reporting date. The forward currency-exchange contracts and the 2018 Swap Agreement 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 debt obligations, excluding lease obligations, are as follows: April 2, 2022 January 1, 2022 Carrying Value Fair Value Carrying Value Fair Value (In thousands) Debt Obligations: Revolving credit facility $ 229,483 $ 229,483 $ 250,267 $ 250,267 Senior promissory notes 10,000 10,459 10,000 10,947 Other 3,893 3,893 4,331 4,331 $ 243,376 $ 243,835 $ 264,598 $ 265,545

Business Segment Information

Business Segment Information	3 Months Ended
	Apr. 02, 2022
Segment Reporting [Abstract]
Business Segment Information	Business Segment Information The Company has combined its operating entities into three reportable operating segments: Flow Control, Industrial Processing, and Material Handling. The Flow Control segment consists of the fluid-handling and doctoring, cleaning, & filtration product lines; the Industrial Processing segment consists of the wood processing and stock-preparation product lines; and the Material Handling segment consists of the conveying and vibratory, baling, and fiber-based product lines. A description of each segment follows. • Flow Control – Custom-engineered products, systems, and technologies that control the flow of fluids used in industrial and commercial applications to keep critical processes running efficiently in the packaging, tissue, food, metals, and other industrial sectors. The Company's primary products include rotary sealing devices, steam systems, expansion joints, doctor systems, roll and fabric cleaning devices, and filtration and fiber recovery systems. • Industrial Processing – Equipment, machinery, and technologies used to recycle paper and paperboard and process timber for use in the packaging, tissue, wood products and alternative fuel industries, among others. The Company's primary products include stock-preparation systems and recycling equipment, chemical pulping equipment, debarkers, stranders, chippers, and logging machinery. In addition, the Company provides industrial automation and digitization solutions to process industries. • Material Handling – Products and engineered systems used to handle bulk and discrete materials for secondary processing or transport in the aggregates, mining, food, and waste management industries, among others. The Company's primary products include conveying and vibratory equipment and balers. In addition, the Company manufactures and sells biodegradable, absorbent granules used as carriers in agricultural applications and for oil and grease absorption. The following table presents financial information for the Company's reportable operating segments: Three Months Ended April 2, April 3, (In thousands) 2022 2021 Revenue Flow Control (a) $ 85,826 $ 63,754 Industrial Processing 93,085 69,154 Material Handling (b) 47,569 39,555 $ 226,480 $ 172,463 Three Months Ended April 2, April 3, (In thousands) 2022 2021 Income Before Provision for Income Taxes Flow Control (a,c) $ 21,725 $ 15,446 Industrial Processing (d) 38,159 11,106 Material Handling (b,e) 5,844 4,169 Corporate (f) (9,755) (7,294) Total operating income 55,973 23,427 Interest expense, net (g) (1,132) (1,046) Other expense, net (g) (22) (24) $ 54,819 $ 22,357 Capital Expenditures Flow Control $ 525 $ 334 Industrial Processing 1,952 1,804 Material Handling 384 121 Corporate 7 — $ 2,868 $ 2,259 (a) Includes Clouth's results in 2022, which was acquired between July 19, 2021 and August 10, 2021. (b) Includes the East Chicago Machine Tool Corporation (Balemaster) results in 2022, which was acquired on August 23, 2021. (c) Includes acquisition costs of $997,000 in the three months ended April 3, 2021. (d) Includes a gain on the sale of a facility of $20,190,000 and non-cash charges for the write-off of an indemnification asset of $575,000 and the write-down of machinery and equipment of $182,000 in the three months ended April 2, 2022. (e) Includes acquisition-related expenses of $717,000 in the three months ended April 2, 2022 and $274,000 in the three months ended April 3, 2021. Acquisition-related expenses include acquisition costs and amortization expense associated with acquired backlog. (f) Represents general and administrative expenses. (g) The Company does not allocate interest and other expense, net to its segments.

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Apr. 02, 2022
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Right of Recourse In the ordinary course of business, the Company's Chinese subsidiaries may receive banker's acceptance drafts from customers as payment for their trade accounts receivable. The drafts are non-interest bearing obligations of the issuing bank and generally mature within six months of the origination date. The Company's Chinese subsidiaries 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 $8,419,000 at April 2, 2022 and $9,593,000 at January 1, 2022 of banker's acceptance drafts subject to recourse, which were transferred to vendors and 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)	3 Months Ended
	Apr. 02, 2022
Accounting Policies [Abstract]
Use of Estimates and Critical Accounting Policies	Use of Estimates and Critical Accounting PoliciesThe 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 revenue 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.
Restricted Cash	Restricted Cash The Company's restricted cash generally serves as collateral for certain banker's acceptance drafts issued to vendors and for bank guarantees 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.
Intangible Assets, Net	Intangible assets are recorded at fair value at the date of acquisition. Subsequent impairment charges are reflected as a reduction in the gross balance, as applicable. 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.
Warranty Obligations	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 during a defined period of time. The Company provides for the estimated cost of product warranties at the time of sale based on historical occurrence rates and repair costs, as well as knowledge of any specific warranty problems that indicate projected warranty costs may vary from historical patterns. The Company negotiates the terms regarding warranty coverage and length of warranty depending on the products and applications.
Revenue Recognition	Revenue Recognition Most of the Company’s revenue relates to products and services that require minimal customization and 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 remaining portion of the Company’s revenue is recognized over time 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. Most of the contracts recognized on an over time basis are for large capital projects. These projects are highly customized for the customer and, as a result, would include a significant cost to rework in the event of cancellation. Contract assets represent unbilled revenue 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 short- and long-term customer deposits, advanced billings, and deferred revenue. Deferred revenue is included in other current liabilities and long-term customer deposits are included in other long-term 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 advance 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 $34,477,000 in the first quarter of 2022 and $17,140,000 in the first quarter of 2021 that was included in the contract liabilities balance at the beginning of 2022 and 2021, respectively. The majority of the Company's contracts for capital equipment have an original expected duration of one year or less. Certain capital contracts require long lead times and could take up to 24 months to complete. For contracts with an original expected duration of over one year, the aggregate amount of the transaction price allocated to the remaining unsatisfied or partially unsatisfied performance obligations as of April 2, 2022 was $48,599,000. The Company will recognize revenue for these performance obligations as they are satisfied, approximately 56% of which is expected to occur within the next twelve months and the remaining 44% after the first quarter of 2023.
Banker's Acceptance Drafts Included in Accounts Receivable	Banker's Acceptance Drafts Included in Accounts ReceivableThe Company's Chinese subsidiaries may receive banker's acceptance drafts from customers as payment for their trade accounts receivable. The drafts are non-interest bearing obligations of the issuing bank and generally mature within six months of the origination date. The Company's Chinese 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 $8,147,000 at April 2, 2022 and $8,049,000 at January 1, 2022, 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.
Recent Accounting Pronouncements Not Yet Adopted	Recent Accounting Pronouncements Not Yet Adopted Reference Rate Reform (Topic 848), Facilitation of the Effects of Reference Rate Reform on Financial Reporting. In March 2020, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) No. 2020-04, which provides optional expedients and exceptions for applying GAAP to contracts, hedging relationships, and other transactions affected by the discontinuation of reference rates, such as the London Interbank Offered Rate (LIBOR), if certain criteria are met. Generally, contract modifications related to reference rate reform may be considered an event that does not require remeasurement or reassessment of a previous accounting determination at the modification date. The guidance in this ASU is applicable to the Company's existing contracts and hedging relationships that reference LIBOR and may be adopted prospectively through December 31, 2022. The Company is currently evaluating the effects that the adoption of this ASU will have on its consolidated financial statements. Business Combinations (Topic 805), Accounting for Contract Assets and Contract Liabilities from Contracts with Customers. In October 2021, the FASB issued ASU 2021-08, which requires entities to recognize and measure contract assets and contract liabilities acquired in a business combination in accordance with ASU 2014-09, Revenue from Contracts with Customers (Topic 606)
Stock-Based Compensation	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.
Forward Currency-Exchange Contracts	Forward Currency-Exchange Contracts The Company uses forward currency-exchange contracts that generally 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 the functional currencies of the Company's subsidiaries.
Fair Value Measurement	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 three months of 2022. 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 forward currency-exchange contracts are based on quoted forward foreign exchange rates at the reporting date. The fair value of the 2018 Swap Agreement is based on USD LIBOR yield curves at the reporting date. The forward currency-exchange contracts and the 2018 Swap Agreement 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 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 value of the senior promissory notes is primarily calculated based on quoted market rates plus an applicable margin available to the Company at the respective period end, which represent Level 2 measurements.

Nature of Operations and Summ_3

Nature of Operations and Summary of Significant Accounting Policies (Tables)	3 Months Ended
	Apr. 02, 2022
Accounting Policies [Abstract]
Supplemental Cash Flow Information	Supplemental Cash Flow Information Three Months Ended (In thousands) April 2, April 3, Cash Paid for Interest $ 1,017 $ 892 Cash Paid for Income Taxes, Net of Refunds $ 8,013 $ 5,344 Non-Cash Investing Activities: Fair value of assets acquired $ (983) $ — Cash paid for acquired businesses (62) (125) Liabilities Assumed of Acquired Businesses $ (1,045) $ (125) Purchases of property, plant, and equipment in accounts payable $ 264 $ 169 Non-Cash Financing Activities: Issuance of Company common stock upon vesting of restricted stock units $ 4,578 $ 3,203 Dividends declared but unpaid $ 3,031 $ 2,894
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) April 2, April 3, January 1, January 2, Cash and cash equivalents $ 86,192 $ 65,982 $ 91,186 $ 65,682 Restricted cash 2,779 726 2,975 958 Total Cash, Cash Equivalents, and Restricted Cash $ 88,971 $ 66,708 $ 94,161 $ 66,640
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) April 2, April 3, January 1, January 2, Cash and cash equivalents $ 86,192 $ 65,982 $ 91,186 $ 65,682 Restricted cash 2,779 726 2,975 958 Total Cash, Cash Equivalents, and Restricted Cash $ 88,971 $ 66,708 $ 94,161 $ 66,640
Inventories	The components of inventories are as follows: April 2, January 1, (In thousands) Raw Materials $ 61,771 $ 59,177 Work in Process 32,215 29,448 Finished Goods 49,597 45,731 $ 143,583 $ 134,356
Changes in the Carrying Amount of Goodwill	The changes in the carrying amount of goodwill by segment are as follows: (In thousands) Flow Control Industrial Processing Material Handling Total Balance at January 1, 2022 Gross balance $ 123,589 $ 214,982 $ 143,825 $ 482,396 Accumulated impairment losses — (85,509) — (85,509) Net balance 123,589 129,473 143,825 396,887 2022 Activity Acquisitions (a) 625 — (482) 143 Currency translation (1,632) (6) (978) (2,616) Total 2022 activity (1,007) (6) (1,460) (2,473) Balance at April 2, 2022 Gross balance 122,582 214,976 142,365 479,923 Accumulated impairment losses — (85,509) — (85,509) Net balance $ 122,582 $ 129,467 $ 142,365 $ 394,414 (a) Relates to adjustments to the purchase price allocation for acquisitions completed in 2021, principally for inventory, machinery and equipment, and deferred taxes. Measurement period adjustments in 2022 were not material to the Company's results of operations. The final purchase accounting and purchase price allocations remain subject to change as the Company continues to refine its preliminary valuation of certain acquired assets and liabilities assumed and the valuation of acquired intangibles, which may result in adjustments to the assets and liabilities, including goodwill.
Changes in the Carrying Amount of Product Warranty Obligations	The changes in the carrying amount of product warranty obligations are as follows: Three Months Ended (In thousands) April 2, April 3, Balance at Beginning of Year $ 7,298 $ 7,064 Provision charged to expense 1,462 1,664 Usage (1,538) (1,361) Currency translation (74) (133) Balance at End of Period $ 7,148 $ 7,234
Revenue Recognition Method and Disaggregation of Revenue by Product Type and Geography	The following table presents revenue by revenue recognition method: Three Months Ended April 2, April 3, (In thousands) 2022 2021 Point in Time $ 203,311 $ 154,417 Over Time 23,169 18,046 $ 226,480 $ 172,463 The following table presents the disaggregation of revenue by product type and geography: Three Months Ended April 2, April 3, (In thousands) 2022 2021 Revenue by Product Type: Parts and consumables $ 146,244 $ 118,107 Capital 80,236 54,356 $ 226,480 $ 172,463 Revenue by Geography (based on customer location): North America $ 124,336 $ 95,092 Europe 58,366 44,641 Asia 31,987 21,813 Rest of world 11,791 10,917 $ 226,480 $ 172,463
Contract Balances From Contracts With Customers	The following table presents contract balances from contracts with customers: April 2, January 1, (In thousands) Contract Assets $ 8,978 $ 8,626 Contract Liabilities $ 77,450 $ 77,004

Earnings per Share (Tables)

Earnings per Share (Tables)	3 Months Ended
	Apr. 02, 2022
Earnings Per Share [Abstract]
Basic and Diluted Earnings Per Share	Basic and diluted earnings per share (EPS) were calculated as follows: Three Months Ended April 2, April 3, (In thousands, except per share amounts) Net Income Attributable to Kadant $ 41,192 $ 16,561 Basic Weighted Average Shares 11,630 11,553 Effect of Stock Options, Restricted Stock Units and Employee Stock Purchase Plan Shares 25 59 Diluted Weighted Average Shares 11,655 11,612 Basic Earnings per Share $ 3.54 $ 1.43 Diluted Earnings per Share $ 3.53 $ 1.43

Short- and Long-Term Obligati_2

Short- and Long-Term Obligations (Tables)	3 Months Ended
	Apr. 02, 2022
Debt Disclosure [Abstract]
Schedule of Short- and Long-Term Obligations	Short- and long-term obligations are as follows: April 2, January 1, (In thousands) Revolving Credit Facility, due 2023 $ 229,483 $ 250,267 Senior Promissory Notes, due 2023 to 2028 10,000 10,000 Finance Leases, due 2022 to 2026 1,320 1,610 Other Borrowings, due 2022 to 2028 7,053 7,637 Total 247,856 269,514 Less: Short-term Obligations and Current Maturities of Long-Term Obligations (4,893) (5,356) Long-Term Obligations $ 242,963 $ 264,158

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Items (Tables)	3 Months Ended
	Apr. 02, 2022
Accumulated Other Comprehensive Income (Loss), Net of Tax [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 Post-Retirement Benefit Liability Adjustments Deferred Loss on Cash Flow Hedges Total Balance at January 1, 2022 $ (29,096) $ (792) $ (462) $ (30,350) Other comprehensive items before reclassifications (2,238) 2 193 (2,043) Reclassifications from AOCI — 7 84 91 Net current period other comprehensive items (2,238) 9 277 (1,952) Balance at April 2, 2022 $ (31,334) $ (783) $ (185) $ (32,302)
Reclassification Out of Accumulated Other Comprehensive Items	Amounts reclassified from AOCI are as follows: Three Months Ended (In thousands) April 2, April 3, Statement of Income Line Item Post-retirement Benefit Plans Recognized net actuarial loss $ (7) $ (11) Other expense, net Amortization of prior service cost (3) (3) Other expense, net Total expense before income taxes (10) (14) Income tax benefit 3 4 Provision for income taxes (7) (10) Cash Flow Hedges (a) Interest rate swap agreements (111) (109) Interest expense Total expense before income taxes (111) (109) Income tax benefit 27 26 Provision for income taxes (84) (83) Total Reclassifications $ (91) $ (93) (a) See Note 8 , Derivatives, for additional information.

Derivatives (Tables)

Derivatives (Tables)	3 Months Ended
	Apr. 02, 2022
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Fair Value of Derivative Instruments	The following table summarizes the fair value of derivative instruments in the accompanying condensed consolidated balance sheet: April 2, 2022 January 1, 2022 Balance Sheet Location Asset (Liability) (a) Notional Amount (b) Asset (Liability) (a) Notional Amount (In thousands) Derivatives Designated as Hedging Instruments: Derivatives in a Liability Position: Forward currency-exchange contract Other Current Liabilities $ (66) $ 842 $ (44) $ 842 2018 Swap Agreement Other Long-Term Liabilities $ (179) $ 15,000 $ (550) $ 15,000 Derivatives Not Designated as Hedging Instruments: Derivatives in an Asset Position: Forward currency-exchange contracts Other Current Assets $ — $ — $ 14 $ 1,200 (a) See Note 9 , Fair Value Measurements and Fair Value of Financial Instruments, for the fair value measurements relating to these financial instruments.
Activity in Accumulated Other Comprehensive Items (AOCI)	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 three months ended April 2, 2022: (In thousands) Interest Rate Swap Forward Currency- Total Unrealized (Loss) Gain, Net of Tax, at January 1, 2022 $ (429) $ (33) $ (462) Loss reclassified to earnings (a) 84 — 84 Gain (loss) recognized in AOCI 209 (16) 193 Unrealized Loss, Net of Tax, at April 2, 2022 $ (136) $ (49) $ (185) (a) See Note 7 , Accumulated Other Comprehensive Items, for the income statement classification.

Fair Value Measurements and F_2

Fair Value Measurements and Fair Value of Financial Instruments (Tables)	3 Months Ended
	Apr. 02, 2022
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: Fair Value as of April 2, 2022 (In thousands) Level 1 Level 2 Level 3 Total Assets: Money market funds and time deposits $ 14,175 $ — $ — $ 14,175 Banker's acceptance drafts (a) $ — $ 8,147 $ — $ 8,147 Liabilities: 2018 Swap Agreement $ — $ 179 $ — $ 179 Forward currency-exchange contract $ — $ 66 $ — $ 66 Fair Value as of January 1, 2022 (In thousands) Level 1 Level 2 Level 3 Total Assets: Money market funds and time deposits $ 13,458 $ — $ — $ 13,458 Banker's acceptance drafts (a) $ — $ 8,049 $ — $ 8,049 Forward currency-exchange contracts $ — $ 14 $ — $ 14 Liabilities: 2018 Swap Agreement $ — $ 550 $ — $ 550 Forward currency-exchange contracts $ — $ 44 $ — $ 44 (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 debt obligations, excluding lease obligations, are as follows: April 2, 2022 January 1, 2022 Carrying Value Fair Value Carrying Value Fair Value (In thousands) Debt Obligations: Revolving credit facility $ 229,483 $ 229,483 $ 250,267 $ 250,267 Senior promissory notes 10,000 10,459 10,000 10,947 Other 3,893 3,893 4,331 4,331 $ 243,376 $ 243,835 $ 264,598 $ 265,545

Business Segment Information (T

Business Segment Information (Tables)	3 Months Ended
	Apr. 02, 2022
Segment Reporting [Abstract]
Business Segment Reporting Information	The following table presents financial information for the Company's reportable operating segments: Three Months Ended April 2, April 3, (In thousands) 2022 2021 Revenue Flow Control (a) $ 85,826 $ 63,754 Industrial Processing 93,085 69,154 Material Handling (b) 47,569 39,555 $ 226,480 $ 172,463 Three Months Ended April 2, April 3, (In thousands) 2022 2021 Income Before Provision for Income Taxes Flow Control (a,c) $ 21,725 $ 15,446 Industrial Processing (d) 38,159 11,106 Material Handling (b,e) 5,844 4,169 Corporate (f) (9,755) (7,294) Total operating income 55,973 23,427 Interest expense, net (g) (1,132) (1,046) Other expense, net (g) (22) (24) $ 54,819 $ 22,357 Capital Expenditures Flow Control $ 525 $ 334 Industrial Processing 1,952 1,804 Material Handling 384 121 Corporate 7 — $ 2,868 $ 2,259 (a) Includes Clouth's results in 2022, which was acquired between July 19, 2021 and August 10, 2021. (b) Includes the East Chicago Machine Tool Corporation (Balemaster) results in 2022, which was acquired on August 23, 2021. (c) Includes acquisition costs of $997,000 in the three months ended April 3, 2021. (d) Includes a gain on the sale of a facility of $20,190,000 and non-cash charges for the write-off of an indemnification asset of $575,000 and the write-down of machinery and equipment of $182,000 in the three months ended April 2, 2022. (e) Includes acquisition-related expenses of $717,000 in the three months ended April 2, 2022 and $274,000 in the three months ended April 3, 2021. Acquisition-related expenses include acquisition costs and amortization expense associated with acquired backlog. (f) Represents general and administrative expenses. (g) The Company does not allocate interest and other expense, net to its segments.

Nature of Operations and Summ_4

Nature of Operations and Summary of Significant Accounting Policies - Narrative (Details) $ in Thousands	3 Months Ended
	Apr. 02, 2022USD ($)segment	Apr. 03, 2021USD ($)	Jan. 01, 2022USD ($)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Number of reportable operating segments | segment	3
Bank guarantees, expiration period (in months)	12 months
Gross intangible assets	$ 340,947		$ 340,947
Accumulated amortization	141,122		135,327
Revenue recognized	34,477	$ 17,140
Revenue, remaining performance obligation, amount	$ 48,599
Banker's acceptance drafts, maturity period (in months)	6 months
Banker's acceptance drafts	$ 8,147		$ 8,049
Certain Capital Contracts
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Lead time for for certain capital contracts (up to) (in months)	24 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-04-03
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation, percent	56.00%
Revenue, remaining performance obligation, expected timing of satisfaction, period	12 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-04-02
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation, percent	44.00%
Revenue, remaining performance obligation, expected timing of satisfaction, period

Nature of Operations and Summ_5

Nature of Operations and Summary of Significant Accounting Policies - Supplemental Cash Flow Information (Details) - USD ($) $ in Thousands	3 Months Ended
	Apr. 02, 2022	Apr. 03, 2021
Accounting Policies [Abstract]
Cash Paid for Interest	$ 1,017	$ 892
Cash Paid for Income Taxes, Net of Refunds	8,013	5,344
Non-Cash Investing Activities:
Fair value of assets acquired	(983)	0
Cash paid for acquired businesses	(62)	(125)
Liabilities Assumed of Acquired Businesses	(1,045)	(125)
Purchases of property, plant, and equipment in accounts payable	264	169
Non-Cash Financing Activities:
Issuance of Company common stock upon vesting of restricted stock units	4,578	3,203
Dividends declared but unpaid	$ 3,031	$ 2,894

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	Apr. 02, 2022	Jan. 01, 2022	Apr. 03, 2021	Jan. 02, 2021
Accounting Policies [Abstract]
Cash and cash equivalents	$ 86,192	$ 91,186	$ 65,982	$ 65,682
Restricted cash	2,779	2,975	726	958
Total Cash, Cash Equivalents, and Restricted Cash	$ 88,971	$ 94,161	$ 66,708	$ 66,640

Nature of Operations and Summ_7

Nature of Operations and Summary of Significant Accounting Policies - Inventories (Details) - USD ($) $ in Thousands	Apr. 02, 2022	Jan. 01, 2022
Accounting Policies [Abstract]
Raw Materials	$ 61,771	$ 59,177
Work in Process	32,215	29,448
Finished Goods	49,597	45,731
Total Inventories	$ 143,583	$ 134,356

Nature of Operations and Summ_8

Nature of Operations and Summary of Significant Accounting Policies - Goodwill (Details) $ in Thousands	3 Months Ended
	Apr. 02, 2022USD ($)
Goodwill [Roll Forward]
Gross balance, beginning balance	$ 482,396
Accumulated impairment losses	(85,509)
Net balance, beginning balance	396,887
Acquisitions	143
Currency translation	(2,616)
Total 2022 activity	(2,473)
Gross balance, ending balance	479,923
Accumulated impairment losses	(85,509)
Net balance, ending balance	394,414
Operating Segment | Flow Control
Goodwill [Roll Forward]
Gross balance, beginning balance	123,589
Accumulated impairment losses	0
Net balance, beginning balance	123,589
Acquisitions	625
Currency translation	(1,632)
Total 2022 activity	(1,007)
Gross balance, ending balance	122,582
Accumulated impairment losses	0
Net balance, ending balance	122,582
Operating Segment | Industrial Processing
Goodwill [Roll Forward]
Gross balance, beginning balance	214,982
Accumulated impairment losses	(85,509)
Net balance, beginning balance	129,473
Acquisitions	0
Currency translation	(6)
Total 2022 activity	(6)
Gross balance, ending balance	214,976
Accumulated impairment losses	(85,509)
Net balance, ending balance	129,467
Operating Segment | Material Handling
Goodwill [Roll Forward]
Gross balance, beginning balance	143,825
Accumulated impairment losses	0
Net balance, beginning balance	143,825
Acquisitions	(482)
Currency translation	(978)
Total 2022 activity	(1,460)
Gross balance, ending balance	142,365
Accumulated impairment losses	0
Net balance, ending balance	$ 142,365

Nature of Operations and Summ_9

Nature of Operations and Summary of Significant Accounting Policies - Warranty Obligations (Details) - USD ($) $ in Thousands	3 Months Ended
	Apr. 02, 2022	Apr. 03, 2021
Changes in the carrying amount of accrued warranty costs [Roll Forward]
Balance at Beginning of Year	$ 7,298	$ 7,064
Provision charged to expense	1,462	1,664
Usage	(1,538)	(1,361)
Currency translation	(74)	(133)
Balance at End of Period	$ 7,148	$ 7,234

Nature of Operations and Sum_10

Nature of Operations and Summary of Significant Accounting Policies - Revenue Recognition Method and Disaggregation of Revenue by Product Type and Geography (Details) - USD ($) $ in Thousands	3 Months Ended
	Apr. 02, 2022	Apr. 03, 2021
Disaggregation of Revenue [Line Items]
Revenues	$ 226,480	$ 172,463
North America
Disaggregation of Revenue [Line Items]
Revenues	124,336	95,092
Europe
Disaggregation of Revenue [Line Items]
Revenues	58,366	44,641
Asia
Disaggregation of Revenue [Line Items]
Revenues	31,987	21,813
Rest of world
Disaggregation of Revenue [Line Items]
Revenues	11,791	10,917
Parts and consumables
Disaggregation of Revenue [Line Items]
Revenues	146,244	118,107
Capital
Disaggregation of Revenue [Line Items]
Revenues	80,236	54,356
Point in Time
Disaggregation of Revenue [Line Items]
Revenues	203,311	154,417
Over Time
Disaggregation of Revenue [Line Items]
Revenues	$ 23,169	$ 18,046

Nature of Operations and Sum_11

Nature of Operations and Summary of Significant Accounting Policies - Revenue from Contract with Customers (Details) - USD ($) $ in Thousands	Apr. 02, 2022	Jan. 01, 2022
Accounting Policies [Abstract]
Contract Assets	$ 8,978	$ 8,626
Contract Liabilities	$ 77,450	$ 77,004

Gain on Sale and Other Expens_2

Gain on Sale and Other Expense, Net (Details) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended	15 Months Ended
	Apr. 02, 2022	Apr. 03, 2021	Dec. 31, 2021	Apr. 02, 2022
Property, Plant and Equipment [Line Items]
Proceeds from sale of property, plant, and equipment	$ 1,595	$ 32
Gross gain on sale of assets	20,190	$ 0
Impairment charge	182
CHINA | Land and Building
Property, Plant and Equipment [Line Items]
Proceeds from sale of property, plant, and equipment	$ 25,159
Down payment percentage	6.00%		25.00%	31.00%
Gross gain on sale of assets	$ 20,190
Net gain on sale of assets	15,143
Deferred taxes	5,047
Receivable recorded at present value for remaining amount of sale proceeds	$ 16,082			$ 16,082
Period of recognition of gain on sale and a receivable for remaining amount of sales proceeds (in years)	2 years

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
	Apr. 02, 2022	Apr. 03, 2021
Income Amounts Attributable to Parent, Disclosures [Abstract]
Net Income Attributable to Kadant	$ 41,192	$ 16,561
Basic Weighted Average Shares	11,630	11,553
Effect of Stock Options, Restricted Stock Units and Employee Stock Purchase Plan Shares	25	59
Diluted Weighted Average Shares	11,655	11,612
Basic Earnings per Share (in dollars per share)	$ 3.54	$ 1.43
Diluted Earnings per Share (in dollars per share)	$ 3.53	$ 1.43

Earnings per Share - Narrative

Earnings per Share - Narrative (Details) - shares shares in Thousands	3 Months Ended
	Apr. 02, 2022	Apr. 03, 2021
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)	17	44

Provision for Income Taxes (Det

Provision for Income Taxes (Details) - USD ($) $ in Thousands	3 Months Ended
	Apr. 02, 2022	Apr. 03, 2021
Income Tax Disclosure [Abstract]
Provision for income taxes	$ 13,378	$ 5,561
Effective tax rate	24.00%	25.00%

Short- and Long-Term Obligati_3

Short- and Long-Term Obligations - Schedule of Short- and Long-Term Obligations (Details) - USD ($) $ in Thousands	Apr. 02, 2022	Jan. 01, 2022
Debt Instrument [Line Items]
Finance Leases, due 2022 to 2026	$ 1,320	$ 1,610
Total	247,856	269,514
Less: Short-term Obligations and Current Maturities of Long-Term Obligations	(4,893)	(5,356)
Long-Term Obligations	242,963	264,158
Revolving Credit Facility, due 2023
Debt Instrument [Line Items]
Long-term debt	229,483	250,267
Senior Promissory Notes, due 2023 to 2028
Debt Instrument [Line Items]
Long-term debt	10,000	10,000
Other Borrowings, due 2022 to 2028
Debt Instrument [Line Items]
Other Borrowings, due 2022 to 2028	$ 7,053	$ 7,637

Short- and Long-Term Obligati_4

Short- and Long-Term Obligations - Narrative (Details) - USD ($)	3 Months Ended
	Apr. 02, 2022	Jan. 01, 2022
Debt Instrument [Line Items]
Secured loan receivable	$ 1,435,000
Clouth
Debt Instrument [Line Items]
Long-term debt	2,925,000
Short-term debt	968,000
Sale Leaseback Arrangement
Debt Instrument [Line Items]
Finance lease liability for sale-leaseback	3,152,000
Revolving Credit Facility, due 2023
Debt Instrument [Line Items]
Long-term debt	229,483,000	$ 250,267,000
Remaining borrowing capacity	$ 169,977,000
Weighted average interest rate for revolving credit facility (as a percentage)	1.73%
Revolving Credit Facility, due 2023 | 2017 Credit Agreement
Debt Instrument [Line Items]
Borrowing capacity available under committed portion	$ 400,000,000
Additional borrowing capacity under uncommitted portion	150,000,000
Maximum amount of unrestricted U.S. cash	$ 30,000,000
Maximum consolidated leverage ratio after acquisition	3.75
Minimum consolidated interest coverage ratio	4
Long-term debt	$ 229,483,000
Revolving Credit Facility, due 2023 | Euro-Denominated Borrowing
Debt Instrument [Line Items]
Long-term debt	$ 78,483,000
Revolving Credit Facility, due 2023 | Base Rate | Minimum | 2017 Credit Agreement
Debt Instrument [Line Items]
Basis spread on variable rate (as a percentage)	0.00%
Revolving Credit Facility, due 2023 | Base Rate | Maximum | 2017 Credit Agreement
Debt Instrument [Line Items]
Basis spread on variable rate (as a percentage)	1.25%
Revolving Credit Facility, due 2023 | Eurocurrency Rate, CDOR Rate and RFR | 2017 Credit Agreement
Debt Instrument [Line Items]
Basis spread on variable rate floor (as a percentage)	0.00%
Revolving Credit Facility, due 2023 | LIBOR | Minimum | 2017 Credit Agreement
Debt Instrument [Line Items]
Basis spread on variable rate (as a percentage)	1.00%
Revolving Credit Facility, due 2023 | LIBOR | Maximum | 2017 Credit Agreement
Debt Instrument [Line Items]
Basis spread on variable rate (as a percentage)	2.25%
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]
Principal amount	$ 10,000,000
Fixed interest rate	4.90%
Other Borrowings, due 2022 to 2028 | Sale Leaseback Arrangement
Debt Instrument [Line Items]
Effective interest rate	1.79%
Net purchase option	$ 1,469,000

Stock-Based Compensation (Detai

Stock-Based Compensation (Details) - USD ($) $ in Thousands	3 Months Ended
	Apr. 02, 2022	Apr. 03, 2021
Share-based Payment Arrangement [Abstract]
Stock-based compensation expense	$ 2,260	$ 1,499
Unrecognized compensation expense related to stock awards	$ 11,628
Weighted average period (in years)	2 years

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Items - Components of AOCI (Details) - USD ($) $ in Thousands	3 Months Ended
	Apr. 02, 2022	Apr. 03, 2021
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	$ 565,616	$ 496,905
Other comprehensive items	(1,998)	(4,609)
Ending balance	599,738	504,308
Total
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	(30,350)	(19,492)
Other comprehensive items before reclassifications	(2,043)
Reclassifications from AOCI	91
Other comprehensive items	(1,952)	(4,548)
Ending balance	(32,302)	$ (24,040)
Foreign Currency Translation Adjustment
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	(29,096)
Other comprehensive items before reclassifications	(2,238)
Reclassifications from AOCI	0
Other comprehensive items	(2,238)
Ending balance	(31,334)
Post-Retirement Benefit Liability Adjustments
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	(792)
Other comprehensive items before reclassifications	2
Reclassifications from AOCI	7
Other comprehensive items	9
Ending balance	(783)
Deferred Loss on Cash Flow Hedges
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	(462)
Other comprehensive items before reclassifications	193
Reclassifications from AOCI	84
Other comprehensive items	277
Ending balance	$ (185)

Accumulated Other Comprehensi_4

Accumulated Other Comprehensive Items - Reclassification Out of AOCI (Details) - USD ($) $ in Thousands	3 Months Ended
	Apr. 02, 2022	Apr. 03, 2021
Reclassification Adjustment out of Accumulated Other Comprehensive Items [Line Items]
Other expense, net	$ (22)	$ (24)
Total expense before income taxes	54,819	22,357
Provision for income taxes	(13,378)	(5,561)
Interest expense	(1,234)	(1,111)
Net Income	41,441	16,796
Reclassification out of Accumulated Other Comprehensive Items
Reclassification Adjustment out of Accumulated Other Comprehensive Items [Line Items]
Net Income	(91)	(93)
Reclassification out of Accumulated Other Comprehensive Items | Post-retirement Benefit Plans
Reclassification Adjustment out of Accumulated Other Comprehensive Items [Line Items]
Total expense before income taxes	(10)	(14)
Provision for income taxes	3	4
Net Income	(7)	(10)
Reclassification out of Accumulated Other Comprehensive Items | Recognized net actuarial loss
Reclassification Adjustment out of Accumulated Other Comprehensive Items [Line Items]
Other expense, net	(7)	(11)
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	(3)	(3)
Reclassification out of Accumulated Other Comprehensive Items | Cash Flow Hedges
Reclassification Adjustment out of Accumulated Other Comprehensive Items [Line Items]
Total expense before income taxes	(111)	(109)
Provision for income taxes	27	26
Net Income	(84)	(83)
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	$ (111)	$ (109)

Derivatives - Narrative (Detail

Derivatives - Narrative (Details)	3 Months Ended
	Apr. 02, 2022USD ($)	Dec. 29, 2018USD ($)
Derivatives, Fair Value [Line Items]
Net unrealized losses included in AOCI expected to be reclassified to earnings over the next 12 months	$ 184,000
Cash Flow Hedging | Designated as Hedging Instrument
Derivatives, Fair Value [Line Items]
Rate of effectiveness of derivative agreement	100.00%
Cash Flow Hedging | 2018 Swap Agreement | Designated as Hedging Instrument
Derivatives, Fair Value [Line Items]
Derivative, notional amount		$ 15,000,000
Derivative, floor rate		0
Fixed rate of interest		3.15%
Cash Flow Hedging | Forward Currency- Exchange Contract | Designated as Hedging Instrument
Derivatives, Fair Value [Line Items]
Period over which entity manages its level of exposure of risk	12 months

Derivatives - Fair Value of Der

Derivatives - Fair Value of Derivative Instruments (Details) - USD ($) $ in Thousands	Apr. 02, 2022	Jan. 01, 2022
Designated as Hedging Instrument | Forward Currency- Exchange Contract | Other Current Liabilities
Derivatives in a Liability Position:
Derivative liability, fair value, gross liability	$ (66)	$ (44)
Derivative liability, notional amount	842	842
Designated as Hedging Instrument | 2018 Swap Agreement | Other Long-Term Liabilities
Derivatives in a Liability Position:
Derivative liability, fair value, gross liability	(179)	(550)
Derivative liability, notional amount	15,000	15,000
Not Designated as Hedging Instrument | Forward Currency- Exchange Contract | Other Current Assets
Derivatives in an Asset Position:
Derivative asset, fair value, gross asset	0	14
Derivative asset, notional amount	$ 0	$ 1,200

Derivatives - Activity in Accum

Derivatives - Activity in Accumulated Other Comprehensive Items (OCI) (Details) $ in Thousands	3 Months Ended
	Apr. 02, 2022USD ($)
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	$ 565,616
Ending balance	599,738
Cash Flow Hedges
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	(462)
Loss reclassified to earnings	84
Gain (loss) recognized in AOCI	193
Ending balance	(185)
Cash Flow Hedges | Interest Rate Swap Agreement
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	(429)
Loss reclassified to earnings	84
Gain (loss) recognized in AOCI	209
Ending balance	(136)
Cash Flow Hedges | Forward Currency- Exchange Contract
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	(33)
Loss reclassified to earnings	0
Gain (loss) recognized in AOCI	(16)
Ending balance	$ (49)

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	Apr. 02, 2022	Jan. 01, 2022
Assets:
Money market funds and time deposits	$ 14,175	$ 13,458
Banker's acceptance drafts	8,147	8,049
Forward currency-exchange contracts		14
Liabilities:
2018 Swap Agreement	179	550
Forward currency-exchange contract	66	44
Level 1
Assets:
Money market funds and time deposits	14,175	13,458
Banker's acceptance drafts	0	0
Forward currency-exchange contracts		0
Liabilities:
2018 Swap Agreement	0	0
Forward currency-exchange contract	0	0
Level 2
Assets:
Money market funds and time deposits	0	0
Banker's acceptance drafts	8,147	8,049
Forward currency-exchange contracts		14
Liabilities:
2018 Swap Agreement	179	550
Forward currency-exchange contract	66	44
Level 3
Assets:
Money market funds and time deposits	0	0
Banker's acceptance drafts	0	0
Forward currency-exchange contracts		0
Liabilities:
2018 Swap Agreement	0	0
Forward currency-exchange contract	$ 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	Apr. 02, 2022	Jan. 01, 2022
Carrying Value
Debt Obligations:
Debt obligations	$ 243,376	$ 264,598
Carrying Value | Revolving credit facility
Debt Obligations:
Debt obligations	229,483	250,267
Carrying Value | Senior promissory notes
Debt Obligations:
Debt obligations	10,000	10,000
Carrying Value | Other
Debt Obligations:
Debt obligations	3,893	4,331
Fair Value
Debt Obligations:
Debt obligations	243,835	265,545
Fair Value | Revolving credit facility
Debt Obligations:
Debt obligations	229,483	250,267
Fair Value | Senior promissory notes
Debt Obligations:
Debt obligations	10,459	10,947
Fair Value | Other
Debt Obligations:
Debt obligations	$ 3,893	$ 4,331

Business Segment Information (D

Business Segment Information (Details) $ in Thousands	3 Months Ended
	Apr. 02, 2022USD ($)segment	Apr. 03, 2021USD ($)
Segment Reporting [Abstract]
Number of reportable operating segments | segment	3
Revenue
Revenues	$ 226,480	$ 172,463
Income Before Provision for Income Taxes
Total operating income	55,973	23,427
Interest expense, net	(1,132)	(1,046)
Other expense, net	(22)	(24)
Income Before Provision for Income Taxes	54,819	22,357
Capital Expenditures
Capital expenditures	2,868	2,259
Gain on the sale of assets	20,190	0
Machinery and equipment write-down	182
Flow Control
Capital Expenditures
Acquisition transaction costs		997
Industrial Processing
Capital Expenditures
Gain on the sale of assets	20,190
Write-off of indemnification asset	575
Machinery and equipment write-down	182
Material Handling
Capital Expenditures
Acquisition transaction costs	717	274
Operating Segment | Flow Control
Revenue
Revenues	85,826	63,754
Income Before Provision for Income Taxes
Total operating income	21,725	15,446
Capital Expenditures
Capital expenditures	525	334
Operating Segment | Industrial Processing
Revenue
Revenues	93,085	69,154
Income Before Provision for Income Taxes
Total operating income	38,159	11,106
Capital Expenditures
Capital expenditures	1,952	1,804
Operating Segment | Material Handling
Revenue
Revenues	47,569	39,555
Income Before Provision for Income Taxes
Total operating income	5,844	4,169
Capital Expenditures
Capital expenditures	384	121
Corporate
Income Before Provision for Income Taxes
Total operating income	(9,755)	(7,294)
Capital Expenditures
Capital expenditures	$ 7	$ 0

Commitments and Contingencies (

Commitments and Contingencies (Details) - USD ($) $ in Thousands	3 Months Ended
	Apr. 02, 2022	Jan. 01, 2022
Commitments and Contingencies Disclosure [Abstract]
Banker's acceptance drafts, maturity period (in months)	6 months
Banker's acceptance drafts with recourse	$ 8,419	$ 9,593