GOODWILL

6 Months Ended

Jun. 30, 2024

Goodwill [Abstract]

GOODWILL

GOODWILL

The Corporation accounts for acquisitions by assigning the purchase price to acquired tangible and intangible assets and liabilities assumed. Assets acquired and liabilities assumed are recorded at their fair values, and the excess of the purchase price over the amounts assigned is recorded as goodwill.

The changes in the carrying amount of goodwill for the six months ended June 30, 2024 are as follows:

(In thousands)	Aerospace & Industrial		Defense Electronics		Naval & Power		Consolidated
December 31, 2023	$	325,131	$	710,378	$	523,317	$	1,558,826
Acquisitions	—		—		19,971		19,971
Foreign currency translation adjustment	(764)		(4,690)		(2,339)		(7,793)
June 30, 2024	$	324,367	$	705,688	$	540,949	$	1,571,004