GOODWILL

3 Months Ended

Mar. 31, 2021

Goodwill [Abstract]

GOODWILL

GOODWILL

In connection with the change in reportable segments, the Corporation recast its previously reported goodwill balances as of December 31, 2020 on a relative fair value basis. As a result, the Corporation performed an interim quantitative impairment assessment of each of its reporting units, and concluded that no impairment existed as of March 31, 2021. Refer to Note 12 to the Condensed Consolidated Financial Statements for additional information on the Corporation’s reportable segments.

The changes in the carrying amount of goodwill for the three months ended March 31, 2021 are as follows:

(In thousands)	Aerospace & Industrial		Defense Electronics		Naval & Power		Consolidated
December 31, 2020	$	316,921	$	703,915	$	434,301	$	1,455,137
Adjustments (1)	—		11,228		—		11,228
Foreign currency translation adjustment	432		(1,320)		(253)		(1,141)
March 31, 2021	$	317,353	$	713,823	$	434,048	$	1,465,224