Curtiss-Wright (CW) 10-Q 5 May 16 2016 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information	3 Months Ended
	Mar. 31, 2016shares
Document And Entity Information [Abstract]
Entity Registrant Name	Curtiss Wright Corporation
Entity Central Index Key	26,324
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Document Type	10-Q
Document Period End Date	Mar. 31, 2016
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	Q1
Amendment Flag	false
Entity common stock shares outstanding	44,515,194
Entity well known seasoned issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF EARNINGS (UNAUDITED) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Net sales
Product sales	$ 402,918	$ 445,687
Service sales	100,589	100,512
Total net sales	503,507	546,199
Cost of sales
Cost of product sales	264,735	293,009
Cost of service sales	66,869	62,094
Total cost of sales	331,604	355,103
Gross profit	171,903	191,096
Research and development expenses	15,160	15,262
Selling expenses	29,626	31,088
General and administrative expenses	69,854	71,911
Operating income	57,263	72,835
Interest expense	(9,933)	(8,996)
Other income, net	(234)	(481)
Earnings before income taxes	47,564	64,320
Provision for income taxes	(14,745)	(21,097)
Earnings from continuing operations	32,819	43,223
Loss from discontinued operations, net of taxes	0	(27,232)
Net earnings	$ 32,819	$ 15,991
Earnings Per Share, Basic [Abstract]
Earnings from continuing operations	$ 0.74	$ 0.91
Loss from discontinued operations	0	(0.57)
Basic earnings per share (usd per share)	0.74	0.34
Earnings Per Share, Diluted [Abstract]
Earnings from continuing operations	0.73	0.89
Loss from discontinued operations	0	(0.56)
Diluted earnings per share (usd per share)	0.73	0.33
Dividends per share	$ 0.13	$ 0.13
Weighted average shares outstanding:
Basic (shares)	44,578	47,724
Diluted (shares)	45,240	48,732

CONDENSED CONSOLIDATED STATEME3

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (Unaudited) - USD ($) $ in Thousands		3 Months Ended
		Mar. 31, 2016	Mar. 31, 2015
Net earnings		$ 32,819	$ 15,991
Other comprehensive income
Foreign currency translation, net of tax (1)	[1]	17,105	(56,473)
Pension and postretirement adjustments, net of tax (2)	[2]	1,612	2,403
Other comprehensive income (loss), net of tax		18,717	(54,070)
Comprehensive income (loss)		$ 51,536	$ (38,079)
[1]	The tax benefit included in other comprehensive income (loss) for foreign currency translation adjustments for the three months ended, March 31, 2016 and 2015 were $1.0 million and $2.2 million, respectively.
[2]	The tax expense included in other comprehensive income (loss) for pension and postretirement adjustments for the three months ended March 31, 2016 and 2015 were ($1.0) million and ($1.4) million, respectively.

CONDENSED CONSOLIDATED STATEME4

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Parentheticals) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Statement of Comprehensive Income [Abstract]
Other Comprehensive Income (Loss), Foreign Currency Translation Adjustment, Tax	$ 1	$ 2.2
Other Comprehensive (Income) Loss, Pension and Other Postretirement Benefit Plans, Tax, Portion Attributable to Parent	$ (1)	$ (1.4)

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Current Assets:
Cash and cash equivalents	$ 337,263	$ 288,697
Receivables, net	481,768	566,289
Inventories, net	403,027	379,591
Other current assets	38,146	40,306
Total current assets	1,260,204	1,274,883
Property, plant, and equipment, net	407,114	413,644
Goodwill	978,624	972,606
Other intangible assets, net	306,003	310,763
Other assets	11,707	17,715
Total assets	2,963,652	2,989,611
Current liabilities:
Current portion of long-term debt and short-term debt	919	1,259
Accounts payable	134,839	163,286
Accrued expenses	96,275	131,863
Income taxes payable	5,041	7,956
Deferred revenue	183,177	181,671
Other current liabilities	36,928	37,190
Total current liabilities	457,179	523,225
Long-term debt	966,861	951,946
Deferred tax liabilities, net	56,912	54,447
Accrued pension and other postretirement benefit costs	103,392	103,723
Long-term portion of environmental reserves	14,193	14,017
Other liabilities	78,408	86,830
Total liabilities	1,676,945	1,734,188
Stockholders' Equity
Common stock, $1 par value,100,000,000 shares authorized at March 31, 2016 and December 31, 2015; shares issued were 49,187,378 at March 31, 2016 and 49,189,702 at December 31, 2015; outstanding shares were 44,599,746 at March 31, 2016 and 44,621,348 at December 31, 2015	49,187	49,190
Additional paid in capital	132,872	144,923
Retained earnings	1,617,659	1,590,645
Accumulated other comprehensive loss	(207,211)	(225,928)
Common treasury stock, at cost (4,587,632 shares at March 31, 2016 and 4,568,354 shares at December 31, 2015)	(305,800)	(303,407)
Total stockholders' equity	1,286,707	1,255,423
Total liabilities and stockholders' equity	$ 2,963,652	$ 2,989,611

CONDENSED CONSOLIDATED BALANCE6

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Mar. 31, 2016	Dec. 31, 2015
Common stock, par value (usd per share)	$ 1	$ 1
Common Stock, Shares Authorized	100,000,000	100,000,000
Common Stock, Shares, Issued	49,187,378	49,189,702
Common Stock, Shares, Outstanding	44,599,746	44,621,348
Treasury Stock, Shares	4,587,632	4,568,354

CONDENSED CONSOLIDATED STATEME7

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Cash flows from operating activities:
Net earnings	$ 32,819	$ 15,991
Adjustments to reconcile net earnings to net cash used by operating activities:
Depreciation and amortization	24,487	25,708
Gain on sale of businesses		(1,252)
Gain on fixed asset disposals	(7)	(503)
Deferred income taxes	11,939	491
Share-based compensation	2,723	2,620
Impairment of assets held for sale		40,813
Change in operating assets and liabilities, net of businesses acquired and divested:
Accounts receivable, net	86,973	(9,993)
Inventories, net	(17,766)	(10,178)
Progress payments	(1,463)	(117)
Accounts payable and accrued expenses	(80,996)	(59,046)
Deferred revenue	1,505	(26,038)
Income taxes payable	(10,519)	(15,574)
Net pension and postretirement liabilities	2,444	(141,585)
Other Operating Activities, Cash Flow Statement	20,405
Other current and long-term assets and liabilities	(2,284)	7,572
Net cash provided by (used for) operating activities	70,260	(171,091)
Cash flows from investing activities:
Proceeds from sales and disposals of long lived assets	203	837
Proceeds from divestitures		4,010
Additions to property, plant, and equipment	(8,825)	(9,096)
Acquisition of businesses, net of cash acquired		(13,228)
Additional consideration of prior period acquisitions		(436)
Net cash used for investing activities	(8,622)	(17,913)
Cash flows from financing activities:
Borrowings under revolving credit facility	2,391	1,296
Repayments of Lines of Credit	(2,737)	(1,400)
Repurchases of common stock	(29,608)	(46,985)
Proceeds from share-based compensation	7,910	7,616
Proceeds from (Payments for) Other Financing Activities	(154)	140
Excess tax benefits from share-based compensation	4,528	3,291
Net cash used for financing activities	(17,670)	(36,042)
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Effect of exchange-rate changes on cash	4,598	(9,476)
Net increase (decrease) in cash and cash equivalents	48,566	(234,522)
Cash and cash equivalents at beginning of period	288,697	450,116
Cash and cash equivalents at end of period	337,263	215,594
Supplemental disclosure of non-cash activities:
Capital expenditures incurred but not yet paid	$ 580	$ 502

CONDENSED CONSOLIDATED STATEME8

CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY (Unaudited) - USD ($) $ in Thousands	Total	Common Stock Member	Additional Paid In Capital Member	Retained Earnings Member	Accumulated Other Comprehensive Income (Loss) Member	Treasury Stock Member
Beginning Balance at Dec. 31, 2014		$ 49,190	$ 158,043	$ 1,469,306	$ (128,411)	$ (69,695)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Other comprehensive loss, net of tax	$ (97,517)
Ending Balance at Dec. 31, 2015	1,255,423	49,190	144,923	1,590,645	(225,928)	(303,407)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net earnings	32,819			32,819
Other comprehensive loss, net of tax	18,717				18,717
Dividends paid/declared				(5,805)
Restricted stock			(10,918)			14,447
Stock options exercised, net of tax			(2,757)			11,666
Other			(732)			735
Share-based compensation			2,356			367
Repurchases of common stock						(29,608)
Ending Balance at Mar. 31, 2016	$ 1,286,707	$ 49,187	$ 132,872	$ 1,617,659	$ (207,211)	$ (305,800)

BASIS OF PRESENTATION

BASIS OF PRESENTATION	3 Months Ended
	Mar. 31, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
BASIS OF PRESENTATION	BASIS OF PRESENTATION Curtiss-Wright Corporation and its subsidiaries (the "Corporation" or the "Company") is a diversified multinational manufacturing and service company that designs, manufactures, and overhauls precision components and provides highly engineered products and services to the aerospace, defense, power generation, and general industrial markets. The unaudited condensed consolidated financial statements include the accounts of Curtiss-Wright and its majority-owned subsidiaries. All intercompany transactions and accounts have been eliminated. The unaudited condensed consolidated financial statements of the Corporation have been prepared pursuant to the rules and regulations of the U.S. Securities and Exchange Commission (SEC). Certain information and footnote disclosures normally included in annual financial statements have been condensed or omitted as permitted by such rules and regulations. In the opinion of management, the accompanying unaudited condensed consolidated financial statements reflect all adjustments necessary for a fair presentation of these financial statements. Management is required to make estimates and judgments that affect the reported amount of assets, liabilities, revenue, and expenses and disclosure of contingent assets and liabilities in the accompanying financial statements. Actual results may differ from these estimates. The most significant of these estimates includes the estimate of costs to complete long-term contracts under the percentage-of-completion accounting methods, the estimate of useful lives for property, plant, and equipment, cash flow estimates used for testing the recoverability of assets, pension plan and postretirement obligation assumptions, estimates for inventory obsolescence, estimates for the valuation and useful lives of intangible assets, legal reserves, and the estimate of future environmental costs. Changes in estimates of contract sales, costs, and profits are recognized using the cumulative catch-up method of accounting. This method recognizes in the current period the cumulative effect of the changes on current and prior periods. Accordingly, the effect of the changes on future periods of contract performance is recognized as if the revised estimate had been the original estimate. In the three month periods ended March 31, 2016 and 2015 , there were no individual significant changes in estimated contract costs. In the opinion of management, all adjustments considered necessary for a fair presentation have been reflected in these financial statements. The unaudited condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and notes thereto included in the Corporation’s 2015 Annual Report on Form 10-K. The results of operations for interim periods are not necessarily indicative of trends or of the operating results for a full year. Recent accounting pronouncements adopted Accounting pronouncement ASU 2015-17 - Balance Sheet Classification of Deferred Taxes was early adopted effective January 1, 2016 and accounting pronouncement ASU 2015-03 - Simplifying the Presentation of Debt Issuance Costs was adopted effective January 1, 2016. Both pronouncements were retrospectively adopted and, accordingly, certain amounts reported in the previous periods have been reclassified to conform to the current year presentation. A summary of the impact of the reclassifications as of December 31, 2015 is shown in the below table. Reclassifications December 31, 2015 as reported Deferred Taxes Debt Issuance Costs December 31, 2015 as reclassified Deferred tax assets. net $ 41,737 $ (41,737 ) $ — $ — Total current assets $ 1,316,620 $ (41,737 ) $ — $ 1,274,883 Other assets $ 15,745 $ 3,107 $ (1,137 ) $ 17,715 Total assets $ 3,029,378 $ (38,630 ) $ (1,137 ) $ 2,989,611 Other current liabilities $ 39,152 $ (1,962 ) $ — $ 37,190 Total current liabilities $ 525,187 $ (1,962 ) $ — $ 523,225 Long-term debt $ 953,083 $ — $ (1,137 ) $ 951,946 Deferred tax liabilities, net $ 91,115 $ (36,668 ) $ — $ 54,447 Total liabilities $ 1,773,955 $ (38,630 ) $ (1,137 ) $ 1,734,188 Total liabilities and stockholders' equity $ 3,029,378 $ (38,630 ) $ (1,137 ) $ 2,989,611 Recent accounting pronouncements to be adopted Standard Description Effect on the financial statements ASU 2014-09 Revenue from contracts with customers In May 2014, the FASB issued a comprehensive new revenue recognition standard which will supersede previous existing revenue recognition guidance. The standard creates a five-step model for revenue recognition that requires companies to exercise judgment when considering contract terms and relevant facts and circumstances. The five-step model includes (1) identifying the contract, (2) identifying the separate performance obligations in the contract, (3) determining the transaction price, (4) allocating the transaction price to the separate performance obligations and (5) recognizing revenue when each performance obligation has been satisfied. The standard also requires expanded disclosures surrounding revenue recognition. The standard is effective for fiscal periods beginning after December 15, 2017 and allows for either full retrospective or modified retrospective adoption. The Corporation is currently evaluating the impact of the adoption of this standard on its Consolidated Financial Statements. Date of adoption: January 1, 2018 ASU 2016-02 Leases In February 2016, the FASB issued final guidance that will require lessees to put most leases on their balance sheets but recognize expenses on their income statements in a manner similar to today’s accounting. The Corporation is currently evaluating the impact of the adoption of this standard on its Consolidated Financial Statements. Date of adoption: January 1, 2019 ASU 2016-09 Improvements to Employee Share-Based Payment Accounting In March 2016, the FASB issued ASU 2016-09, which simplifies several aspects of the accounting for employee share-based payment transactions for both public and nonpublic entities, including the accounting for income taxes, forfeitures, and statutory tax withholding requirements, as well as classification in the statement of cash flows. The Corporation is currently evaluating the impact of the adoption of this standard on its Consolidated Financial Statements. Date of adoption: January 1, 2017

DISCONTINUED OPERATIONS AND ASS

DISCONTINUED OPERATIONS AND ASSETS HELD FOR SALE	3 Months Ended
	Mar. 31, 2016
Discontinued Operations and Disposal Groups [Abstract]
DISCONTINUED OPERATIONS AND ASSETS HELD FOR SALE	DISCONTINUED OPERATIONS AND ASSETS HELD FOR SALE As part of a strategic portfolio review conducted in 2014, the Corporation had identified certain businesses it considered non-core. The Corporation considers businesses non-core when the business’ products or services do not complement its existing businesses and where the long-term growth and profitability prospects are below the Corporation’s expectations. In 2015, the Corporation divested all five businesses that were classified as held for sale as of December 31, 2014. The results of operations of these businesses are reported as discontinued operations within our Condensed Consolidated Statements of Earnings. The aggregate financial results of all discontinued operations for the three months ended March 31 were as follows: (In thousands) 2016 2015 Net sales $ — $ 34,259 Loss from discontinued operations before income taxes (1) — (40,112 ) Income tax benefit — 12,678 Gain on sale of business (2) — 202 Earnings from discontinued operations $ — $ (27,232 ) (1) Loss from discontinued operations before income taxes includes approximately $41 million of Held for sale impairment expense in the three months ended March 31, 2015. (2) In the first quarter ended March 31, 2015 , the Corporation recognized an aggregate after tax gain of $0.9 million on the sale of our Aviation Ground Support Equipment business, which operated within the Defense segment. Divestitures and facility closures In January 2015 , the Corporation sold the assets of its Aviation Ground support business for £3 million ( $4 million ). Net sales and loss before income taxes attributable to this business for the three months ended March 31, 2015 were $0.6 million and $(1.0) million , respectively. During 2015 , the Corporation disposed of five businesses aggregating to cash proceeds of $31 million . The divestitures resulted in aggregate pre-tax losses in excess of $17 million , and tax benefits of approximately $3.3 million . Aggregate net sales and loss before income taxes attributable to these 2015 divestitures and facility closures for the three months ended March 31, 2015 were $34.3 million and $40.1 million , respectively.

RECEIVABLES

RECEIVABLES	3 Months Ended
	Mar. 31, 2016
Receivables [Abstract]
RECEIVABLES	RECEIVABLES Receivables primarily include amounts billed to customers, unbilled charges on long-term contracts consisting of amounts recognized as sales but not billed, and other receivables. Substantially all amounts of unbilled receivables are expected to be billed and collected within one year. An immaterial amount of unbilled receivables are subject to retainage provisions. The amount of claims and unapproved change orders within our receivables balances are immaterial. The composition of receivables is as follows: (In thousands) March 31, 2016 December 31, 2015 Billed receivables: Trade and other receivables $ 353,816 $ 435,172 Less: Allowance for doubtful accounts (5,759 ) (5,664 ) Net billed receivables 348,057 429,508 Unbilled receivables: Recoverable costs and estimated earnings not billed 151,063 153,045 Less: Progress payments applied (17,352 ) (16,264 ) Net unbilled receivables 133,711 136,781 Receivables, net $ 481,768 $ 566,289

INVENTORIES

INVENTORIES	3 Months Ended
	Mar. 31, 2016
Inventory, Net [Abstract]
INVENTORIES	INVENTORIES Inventoried costs contain amounts relating to long-term contracts and programs with long production cycles, a portion of which will not be realized within one year. Long-term contract inventory includes an immaterial amount of claims or other similar items subject to uncertainty concerning their determination or realization. Inventories are valued at the lower of cost or market. The composition of inventories is as follows: (In thousands) March 31, 2016 December 31, 2015 Raw materials $ 206,484 $ 196,684 Work-in-process 87,722 79,406 Finished goods and component parts 118,053 114,931 Inventoried costs related to long-term contracts 53,996 51,774 Gross inventories 466,255 442,795 Less: Inventory reserves (51,479 ) (48,904 ) Progress payments applied (11,749 ) (14,300 ) Inventories, net $ 403,027 $ 379,591 Inventoried costs related to long-term contracts include capitalized contract development costs related to certain aerospace and defense programs of $30.3 million and $29.7 million , as of March 31, 2016 and December 31, 2015 , respectively. These capitalized costs will be liquidated as production units are delivered to the customer. As of March 31, 2016 and December 31, 2015 , $1.8 million and $2.5 million , respectively, are scheduled to be liquidated under existing firm orders.

GOODWILL

GOODWILL	3 Months Ended
	Mar. 31, 2016
Goodwill [Abstract]
GOODWILL	GOODWILL The changes in the carrying amount of goodwill for the three months ended March 31, 2016 are as follows: (In thousands) Commercial/ Industrial Defense Power Consolidated December 31, 2015 $ 447,828 $ 337,603 $ 187,175 $ 972,606 Foreign currency translation adjustment 748 5,085 185 6,018 March 31, 2016 $ 448,576 $ 342,688 $ 187,360 $ 978,624

OTHER INTANGIBLE ASSETS, NET

OTHER INTANGIBLE ASSETS, NET	3 Months Ended
	Mar. 31, 2016
Intangible Assets, Net (Excluding Goodwill) [Abstract]
OTHER INTANGIBLE ASSETS, NET	OTHER INTANGIBLE ASSETS, NET The following tables present the cumulative composition of the Corporation’s intangible assets: (In thousands) March 31, 2016 December 31, 2015 Gross Accumulated Amortization Net Gross Accumulated Amortization Net Technology $ 172,959 $ (94,475 ) $ 78,484 $ 171,382 $ (91,430 ) $ 79,952 Customer related intangibles 359,734 (146,920 ) 212,814 357,538 (140,816 ) 216,722 Other intangible assets 37,522 (22,817 ) 14,705 37,200 (23,111 ) 14,089 Total $ 570,215 $ (264,212 ) $ 306,003 $ 566,120 $ (255,357 ) $ 310,763 Total intangible amortization expense for the three months ended March 31, 2016 was $8.4 million as compared to $8.6 million in the comparable prior year period. The estimated amortization expense for the five years ending December 31, 2016 through 2020 is $33.8 million , $33.2 million , $32.2 million , $30.4 million , and $28.4 million , respectively.

FAIR VALUE OF FINANCIAL INSTRUM

FAIR VALUE OF FINANCIAL INSTRUMENTS	3 Months Ended
	Mar. 31, 2016
Fair Value Disclosures [Abstract]
FAIR VALUE OF FINANCIAL INSTRUMENTS	FAIR VALUE OF FINANCIAL INSTRUMENTS Forward Foreign Exchange and Currency Option Contracts The Corporation has foreign currency exposure primarily in the United Kingdom, Europe, and Canada. The Corporation uses financial instruments, such as forward contracts, to hedge a portion of existing and anticipated foreign currency denominated transactions. The purpose of the Corporation’s foreign currency risk management program is to reduce volatility in earnings caused by exchange rate fluctuations. Guidance on accounting for derivative instruments and hedging activities requires companies to recognize all of the derivative financial instruments as either assets or liabilities at fair value in the Condensed Consolidated Balance Sheets based upon quoted market prices for comparable instruments. Interest Rate Risks and Related Strategies The Corporation’s primary interest rate exposure results from changes in U.S. dollar interest rates. The Corporation’s policy is to manage interest cost using a mix of fixed and variable rate debt. The Corporation periodically uses interest rate swaps to manage such exposures. Under these interest rate swaps, the Corporation exchanges, at specified intervals, the difference between fixed and floating interest amounts calculated by reference to an agreed-upon notional principal amount. For interest rate swaps designated as fair value hedges (i.e., hedges against the exposure to changes in the fair value of an asset or a liability or an identified portion thereof that is attributable to a particular risk), changes in the fair value of the interest rate swaps offset changes in the fair value of the fixed rate debt due to changes in market interest rates. On February 5, 2016, the Corporation terminated its March 2013 and January 2012 interest rate swap agreements. As a result of the termination, the Corporation received a cash payment of $20.4 million , representing the fair value of the interest rate swaps on the date of termination. In connection with the termination, the Corporation and the counterparties released each other from all obligations under the interest rate swaps agreement, including, without limitation, the obligation to make periodic payments under such agreements. The gain on termination will be reflected as a bond premium to our notes' carrying value and amortized prospectively into interest expense over the remaining terms of the Senior Notes. The fair value accounting guidance requires that assets and liabilities carried at fair value be classified and disclosed in one of the following three categories: Level 1: Quoted market prices in active markets for identical assets or liabilities that the company has the ability to access. Level 2: Observable market based inputs or unobservable inputs that are corroborated by market data such as quoted prices, interest rates, and yield curves. Level 3: Inputs are unobservable data points that are not corroborated by market data. Based upon the fair value hierarchy, all of the forward foreign exchange contracts and interest rate swaps are valued at a Level 2. Effects on Consolidated Balance Sheets The location and amounts of derivative instrument fair values in the condensed consolidated balance sheet are below. (In thousands) March 31, 2016 December 31, 2015 Assets Designated for hedge accounting Interest rate swaps $ — $ 3,083 Undesignated for hedge accounting Forward exchange contracts $ 256 $ 223 Total asset derivatives (A) $ 256 $ 3,306 Liabilities Undesignated for hedge accounting Forward exchange contracts $ 471 $ 673 Total liability derivatives (B) $ 471 $ 673 (A) Forward exchange derivatives are included in Other current assets and interest rate swaps assets are included in Other assets. (B) Forward exchange derivatives are included in Other current liabilities. Effects on Condensed Consolidated Statements of Earnings Fair value hedge The location and amount of gains and (losses) on the hedged fixed rate debt attributable to changes in the market interest rates and the offsetting gain (loss) on the related interest rate swaps for the three months ended March 31, were as follows: Three Months Ended (In thousands) March 31, 2016 2015 Other income, net Gain on interest rate swaps $ — $ 11,910 Loss on hedged fixed rate debt — (11,910 ) Total $ — $ — Undesignated hedges The location and amount of gains and (losses) recognized in income on forward exchange derivative contracts not designated for hedge accounting for the three months ended March 31, were as follows: Three Months Ended (In thousands) March 31, Derivatives not designated as hedging instrument 2016 2015 Forward exchange contracts: General and administrative expenses $ (584 ) $ (972 ) Debt The estimated fair value amounts were determined by the Corporation using available market information that is primarily based on quoted market prices for the same or similar issues as of March 31, 2016 . Accordingly, all of the Corporation’s debt is valued at a Level 2. The fair values described below may not be indicative of net realizable value or reflective of future fair values. Furthermore, the use of different methodologies to determine the fair value of certain financial instruments could result in a different estimate of fair value at the reporting date. The carrying amount of the variable interest rate debt approximates fair value as the interest rates are reset periodically to reflect current market conditions. (In thousands) March 31, 2016 December 31, 2015 Carrying Value Estimated Fair Value Carrying Value Estimated Fair Value 5.51% Senior notes due 2017 $ 150,000 $ 157,605 $ 150,000 $ 158,024 3.84% Senior notes due 2021 100,000 103,929 100,307 100,307 3.70% Senior notes due 2023 225,000 230,145 225,000 224,322 3.85% Senior notes due 2025 100,000 102,314 100,450 100,450 4.24% Senior notes due 2026 200,000 208,472 201,422 201,422 4.05% Senior notes due 2028 75,000 76,374 75,904 75,904 4.11% Senior notes due 2028 100,000 102,250 100,000 99,720 Other debt 919 919 1,259 1,259 Total debt 950,919 982,008 954,342 961,408 Unamortized debt issuance costs (1) (1,099 ) (1,099 ) (1,137 ) (1,137 ) Unamortized interest rate swap proceeds (2) 17,959 17,959 — — Total debt, net $ 967,779 $ 998,868 $ 953,205 $ 960,271 (1) Effective for 2016, the Company adopted ASU 2015-03 - Simplifying the Presentation of Debt Issuance Costs requiring unamortized debt issuance costs to be presented on the balance sheet as a direct deduction from the carrying amount of the related debt liability. Prior year balances have been reclassified to reflect the current year presentation. (2) In February 2016, the Company terminated its interest rate swap agreements. Upon termination of the interest rate swaps, we received $20.4 million in cash and recorded a deferred gain of $18.3 million . As of March 31, 2016 the remaining benefit of $18.0 million was recorded as an increase in the long-term debt balance and will be recognized ratably as a reduction to future interest expense over the remaining life of the related debt. Nonrecurring measurements As discussed in Note 2 . Discontinued Operations and Assets Held For Sale, the Corporation classified certain businesses as held for sale in 2014 . In accordance with the provisions of the Impairment or Disposal of Long-Lived Assets guidance of FASB Codification Subtopic 360–10, the carrying amount of the disposal groups were written down to their estimated fair value, less costs to sell, resulting in an impairment charge of $40.8 million , which was included in the loss from discontinued operations before income taxes for the three months ended March 31, 2015. The fair value of the disposal groups were determined primarily by using non-binding quotes. In accordance with the fair value hierarchy, the impairment charge is classified as a Level 3 measurement as it is based on significant other unobservable inputs.

PENSION AND OTHER POSTRETIREMEN

PENSION AND OTHER POSTRETIREMENT BENEFIT PLANS	3 Months Ended
	Mar. 31, 2016
General Discussion of Pension and Other Postretirement Benefits [Abstract]
PENSION AND OTHER POSTRETIREMENT BENEFIT PLANS	PENSION AND OTHER POSTRETIREMENT BENEFIT PLANS The following table is a consolidated disclosure of all domestic and foreign defined pension plans as described in the Corporation’s 2015 Annual Report on Form 10-K filed with the SEC. Pension Plans The components of net periodic pension cost for the three months ended March 31, 2016 and 2015 are as follows: (In thousands) Three Months Ended March 31, 2016 2015 Service cost $ 6,237 $ 7,136 Interest cost 7,703 7,491 Expected return on plan assets (13,581 ) (13,679 ) Amortization of prior service cost (12 ) 155 Amortization of unrecognized actuarial loss 3,093 3,865 Net periodic benefit cost $ 3,440 $ 4,968 During the three months ended March 31, 2016 , the Corporation made no contributions to the Curtiss-Wright Pension Plan, and does not expect to make any contributions in 2016. Contributions to the foreign benefit plans are not expected to be material in 2016 . Defined Contribution Retirement Plan Effective January 1, 2014 , all non-union employees who are not currently receiving final or career average pay benefits became eligible to receive employer contributions in the Corporation's sponsored 401(k) plan. The employer contributions include both employer match and non-elective contribution components, up to a maximum employer contribution of 6% of eligible compensation. During the three months ended March 31, 2016 and 2015 , the expense relating to the plan was $3.2 million and $4.1 million , respectively. The Corporation made $7.8 million in contributions to the plan for the first quarter of 2016 , and expects to make total contributions of $12.4 million in 2016 .

EARNINGS PER SHARE

EARNINGS PER SHARE	3 Months Ended
	Mar. 31, 2016
Earnings Per Share [Abstract]
EARNINGS PER SHARE	EARNINGS PER SHARE Diluted earnings per share were computed based on the weighted-average number of shares outstanding plus all potentially dilutive common shares. A reconciliation of basic to diluted shares used in the earnings per share calculation is as follows: (In thousands) Three Months Ended March 31, 2016 2015 Basic weighted-average shares outstanding 44,578 47,724 Dilutive effect of stock options and deferred stock compensation 662 1,008 Diluted weighted-average shares outstanding 45,240 48,732 As of the period ended March 31, 2016 and March 31, 2015 , respectively, there were no stock options outstanding that were considered anti-dilutive.

SEGMENT INFORMATION

SEGMENT INFORMATION	3 Months Ended
	Mar. 31, 2016
Segment Reporting [Abstract]
SEGMENT INFORMATION	SEGMENT INFORMATION The Corporation manages and evaluates its operations based on end markets to strengthen its ability to service customers and recognize certain organizational efficiencies. Based on this approach, the Corporation has three reportable segments: Commercial/Industrial, Defense, and Power. The Corporation’ s measure of segment profit or loss is operating income. Interest expense and income taxes are not reported on an operating segment basis as they are not considered in the segments’ performance evaluation by the Corporation’s chief operating decision-maker, its Chief Executive Officer. Net sales and operating income by reportable segment were as follows: (In thousands) Three Months Ended March 31, 2016 2015 Net sales Commercial/Industrial $ 275,205 $ 299,898 Defense 105,730 114,352 Power 123,746 135,135 Less: Intersegment revenues (1,174 ) (3,186 ) Total consolidated $ 503,507 $ 546,199 Operating income (expense) Commercial/Industrial $ 30,052 $ 43,289 Defense 16,845 18,027 Power 14,628 19,512 Corporate and eliminations (1) (4,262 ) (7,993 ) Total consolidated $ 57,263 $ 72,835 (1) Corporate and eliminations includes pension and other postretirement benefit expense, certain environmental costs related to remediation at legacy sites, foreign currency transactional gains and losses, and certain other expenses. Adjustments to reconcile operating income to earnings before income taxes: (In thousands) Three Months Ended March 31, 2016 2015 Total operating income $ 57,263 $ 72,835 Interest expense 9,933 8,996 Other income, net (234 ) (481 ) Earnings before income taxes $ 47,564 $ 64,320 (In thousands) March 31, 2016 December 31, 2015 Identifiable assets Commercial/Industrial $ 1,502,825 $ 1,480,052 Defense 804,191 800,613 Power 539,730 629,612 Corporate and Other 116,906 79,334 Total consolidated $ 2,963,652 $ 2,989,611

ACCUMULATED OTHER COMPREHENSIVE

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)	3 Months Ended
	Mar. 31, 2016
Stockholders' Equity Note [Abstract]
ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)	ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) The cumulative balance of each component of accumulated other comprehensive income (loss), net of tax, is as follows: (In thousands) Foreign currency translation adjustments, net Total pension and postretirement adjustments, net Accumulated other comprehensive income (loss) December 31, 2014 $ (20,283 ) $ (108,128 ) $ (128,411 ) Current period other comprehensive income (loss) (87,527 ) (9,990 ) (97,517 ) December 31, 2015 $ (107,810 ) $ (118,118 ) $ (225,928 ) Other comprehensive loss before reclassifications (1) 17,105 (116 ) 16,989 Amounts reclassified from accumulated other comprehensive loss (1) — 1,728 1,728 Net current period other comprehensive income (loss) 17,105 1,612 18,717 March 31, 2016 $ (90,705 ) $ (116,506 ) $ (207,211 ) (1) All amounts are after tax. Details of amounts reclassified from accumulated other comprehensive income (loss) are below: (In thousands) Amount reclassified from Accumulated other comprehensive income (loss) Affected line item in the statement where net earnings is presented Defined benefit pension and other postretirement benefit plans Amortization of prior service costs 176 (1) Amortization of actuarial losses (2,950 ) (1) (2,774 ) Total before tax 1,046 Income tax Total reclassifications $ (1,728 ) Net of tax (1) These items are included in the computation of net periodic pension cost. See Note 8 , Pension and Other Postretirement Benefit Plans.

CONTINGENCIES AND COMMITMENTS

CONTINGENCIES AND COMMITMENTS	3 Months Ended
	Mar. 31, 2016
Commitments and Contingencies Disclosure [Abstract]
CONTINGENCIES AND COMMITMENTS	CONTINGENCIES AND COMMITMENTS Legal Proceedings The Corporation has been named in a number of lawsuits that allege injury from exposure to asbestos. To date, the Corporation has not been found liable for or paid any material sum of money in settlement in any case. The Corporation believes its minimal use of asbestos in its past and current operations and the relatively non-friable condition of asbestos in its products makes it unlikely that it will face material liability in any asbestos litigation, whether individually or in the aggregate. The Corporation maintains insurance coverage for these potential liabilities and believes adequate coverage exists to cover any unanticipated asbestos liability. In December 2013, the Corporation, along with other unaffiliated parties, received a claim from Canadian Natural Resources Limited (CNRL) filed in the Court of Queen's Bench of Alberta, Judicial District of Calgary. The claim pertains to a January 2011 fire and explosion at a delayed coker unit at its Fort McMurray refinery that resulted in the injury of five CNRL employees, damage to property and equipment, and various forms of consequential loss, such as loss of profit, lost opportunities, and business interruption. The fire and explosion occurred when a CNRL employee bypassed certain safety controls and opened an operating coker unit. The total quantum of alleged damages arising from the incident has not been finalized, but is estimated to meet or exceed $1 billion . The Corporation maintains various forms of commercial, property and casualty, product liability, and other forms of insurance; however, such insurance may not be adequate to cover the costs associated with a judgment against us. The Corporation is currently unable to estimate an amount, or range of potential losses, if any, from this matter. The Corporation believes it has adequate legal defenses and intends to defend this matter vigorously. The Corporation's financial condition, results of operations, and cash flows, could be materially affected during a future fiscal quarter or fiscal year by unfavorable developments or outcome regarding this claim. In addition to the CNRL litigation, the Corporation is party to a number of other legal actions and claims, none of which individually or in the aggregate, in the opinion of management, are expected to have a material effect on the Corporation’s results of operations or financial position. Letters of Credit and Other Financial Arrangements The Corporation enters into standby letters of credit agreements and guarantees with financial institutions and customers primarily relating to guarantees of repayment, future performance on certain contracts to provide products and services, and to secure advance payments from certain international customers. At March 31, 2016 and December 31, 2015 , there were $36.0 million and $37.3 million of stand-by letters of credit outstanding, respectively, and $13.6 million and $14.7 million of bank guarantees outstanding, respectively. As of March 31, 2016 , letters of credit outstanding related to discontinued operations were $2.4 million . In addition, the Corporation is required to provide the Nuclear Regulatory Commission financial assurance demonstrating its ability to cover the cost of decommissioning its Cheswick, Pennsylvania facility upon closure, though the Corporation does not intend to close this facility. The Corporation has provided this financial assurance in the form of a $56.0 million surety bond. AP1000 Program Within the Corporation’s Power segment, our Electro-Mechanical Division is the reactor coolant pump (RCP) supplier for the Westinghouse AP1000 nuclear power plants under construction in China and the United States. The terms of the AP1000 China and United States contracts include liquidated damage penalty provisions for failure to meet contractual delivery dates if the Corporation caused the delay and the delay was not excusable. On October 10, 2013, the Corporation received a letter from Westinghouse stating entitlements to the maximum amount of liquidated damages allowable under the AP1000 China contract of approximately $25 million . The Corporation would be liable for liquidated damages under the contract if certain contractual delivery dates were not met and if the Corporation was deemed responsible for the delay. As of March 31, 2016 , the Corporation has not met certain contractual delivery dates under its AP 1000 contracts; however there are significant uncertainties as to which parties are responsible for the delays. The Corporation believes it has adequate legal defenses and intends to vigorously defend this matter. Given the uncertainties surrounding the responsibility for the delays no accrual has been made for this matter as of March 31, 2016 . The range of possible loss is $0 to $48 million .

BASIS OF PRESENTATION (Policies

BASIS OF PRESENTATION (Policies)	3 Months Ended
	Mar. 31, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis Of Accounting	Curtiss-Wright Corporation and its subsidiaries (the "Corporation" or the "Company") is a diversified multinational manufacturing and service company that designs, manufactures, and overhauls precision components and provides highly engineered products and services to the aerospace, defense, power generation, and general industrial markets. The unaudited condensed consolidated financial statements include the accounts of Curtiss-Wright and its majority-owned subsidiaries. All intercompany transactions and accounts have been eliminated. The unaudited condensed consolidated financial statements of the Corporation have been prepared pursuant to the rules and regulations of the U.S. Securities and Exchange Commission (SEC). Certain information and footnote disclosures normally included in annual financial statements have been condensed or omitted as permitted by such rules and regulations. In the opinion of management, the accompanying unaudited condensed consolidated financial statements reflect all adjustments necessary for a fair presentation of these financial statements. Management is required to make estimates and judgments that affect the reported amount of assets, liabilities, revenue, and expenses and disclosure of contingent assets and liabilities in the accompanying financial statements. Actual results may differ from these estimates. The most significant of these estimates includes the estimate of costs to complete long-term contracts under the percentage-of-completion accounting methods, the estimate of useful lives for property, plant, and equipment, cash flow estimates used for testing the recoverability of assets, pension plan and postretirement obligation assumptions, estimates for inventory obsolescence, estimates for the valuation and useful lives of intangible assets, legal reserves, and the estimate of future environmental costs. Changes in estimates of contract sales, costs, and profits are recognized using the cumulative catch-up method of accounting. This method recognizes in the current period the cumulative effect of the changes on current and prior periods. Accordingly, the effect of the changes on future periods of contract performance is recognized as if the revised estimate had been the original estimate. In the three month periods ended March 31, 2016 and 2015 , there were no individual significant changes in estimated contract costs. In the opinion of management, all adjustments considered necessary for a fair presentation have been reflected in these financial statements. The unaudited condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and notes thereto included in the Corporation’s 2015 Annual Report on Form 10-K. The results of operations for interim periods are not necessarily indicative of trends or of the operating results for a full year.
New Accounting Pronouncements, Policy [Policy Text Block]	Recent accounting pronouncements adopted Accounting pronouncement ASU 2015-17 - Balance Sheet Classification of Deferred Taxes was early adopted effective January 1, 2016 and accounting pronouncement ASU 2015-03 - Simplifying the Presentation of Debt Issuance Costs was adopted effective January 1, 2016. Both pronouncements were retrospectively adopted and, accordingly, certain amounts reported in the previous periods have been reclassified to conform to the current year presentation. A summary of the impact of the reclassifications as of December 31, 2015 is shown in the below table. Reclassifications December 31, 2015 as reported Deferred Taxes Debt Issuance Costs December 31, 2015 as reclassified Deferred tax assets. net $ 41,737 $ (41,737 ) $ — $ — Total current assets $ 1,316,620 $ (41,737 ) $ — $ 1,274,883 Other assets $ 15,745 $ 3,107 $ (1,137 ) $ 17,715 Total assets $ 3,029,378 $ (38,630 ) $ (1,137 ) $ 2,989,611 Other current liabilities $ 39,152 $ (1,962 ) $ — $ 37,190 Total current liabilities $ 525,187 $ (1,962 ) $ — $ 523,225 Long-term debt $ 953,083 $ — $ (1,137 ) $ 951,946 Deferred tax liabilities, net $ 91,115 $ (36,668 ) $ — $ 54,447 Total liabilities $ 1,773,955 $ (38,630 ) $ (1,137 ) $ 1,734,188 Total liabilities and stockholders' equity $ 3,029,378 $ (38,630 ) $ (1,137 ) $ 2,989,611 Recent accounting pronouncements to be adopted Standard Description Effect on the financial statements ASU 2014-09 Revenue from contracts with customers In May 2014, the FASB issued a comprehensive new revenue recognition standard which will supersede previous existing revenue recognition guidance. The standard creates a five-step model for revenue recognition that requires companies to exercise judgment when considering contract terms and relevant facts and circumstances. The five-step model includes (1) identifying the contract, (2) identifying the separate performance obligations in the contract, (3) determining the transaction price, (4) allocating the transaction price to the separate performance obligations and (5) recognizing revenue when each performance obligation has been satisfied. The standard also requires expanded disclosures surrounding revenue recognition. The standard is effective for fiscal periods beginning after December 15, 2017 and allows for either full retrospective or modified retrospective adoption. The Corporation is currently evaluating the impact of the adoption of this standard on its Consolidated Financial Statements. Date of adoption: January 1, 2018 ASU 2016-02 Leases In February 2016, the FASB issued final guidance that will require lessees to put most leases on their balance sheets but recognize expenses on their income statements in a manner similar to today’s accounting. The Corporation is currently evaluating the impact of the adoption of this standard on its Consolidated Financial Statements. Date of adoption: January 1, 2019 ASU 2016-09 Improvements to Employee Share-Based Payment Accounting In March 2016, the FASB issued ASU 2016-09, which simplifies several aspects of the accounting for employee share-based payment transactions for both public and nonpublic entities, including the accounting for income taxes, forfeitures, and statutory tax withholding requirements, as well as classification in the statement of cash flows. The Corporation is currently evaluating the impact of the adoption of this standard on its Consolidated Financial Statements. Date of adoption: January 1, 2017

BASIS OF PRESENTATION (Tables)

BASIS OF PRESENTATION (Tables)	3 Months Ended
	Mar. 31, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Schedule of New Accounting Pronouncements and Changes in Accounting Principles [Table Text Block]	Reclassifications December 31, 2015 as reported Deferred Taxes Debt Issuance Costs December 31, 2015 as reclassified Deferred tax assets. net $ 41,737 $ (41,737 ) $ — $ — Total current assets $ 1,316,620 $ (41,737 ) $ — $ 1,274,883 Other assets $ 15,745 $ 3,107 $ (1,137 ) $ 17,715 Total assets $ 3,029,378 $ (38,630 ) $ (1,137 ) $ 2,989,611 Other current liabilities $ 39,152 $ (1,962 ) $ — $ 37,190 Total current liabilities $ 525,187 $ (1,962 ) $ — $ 523,225 Long-term debt $ 953,083 $ — $ (1,137 ) $ 951,946 Deferred tax liabilities, net $ 91,115 $ (36,668 ) $ — $ 54,447 Total liabilities $ 1,773,955 $ (38,630 ) $ (1,137 ) $ 1,734,188 Total liabilities and stockholders' equity $ 3,029,378 $ (38,630 ) $ (1,137 ) $ 2,989,611

DISCONTINUED OPERATIONS AND A23

DISCONTINUED OPERATIONS AND ASSETS HELD FOR SALE (Tables)	3 Months Ended
	Mar. 31, 2016
Discontinued Operations and Disposal Groups [Abstract]
Summary of Financial Results of All Discontinued Operations	The aggregate financial results of all discontinued operations for the three months ended March 31 were as follows: (In thousands) 2016 2015 Net sales $ — $ 34,259 Loss from discontinued operations before income taxes (1) — (40,112 ) Income tax benefit — 12,678 Gain on sale of business (2) — 202 Earnings from discontinued operations $ — $ (27,232 ) (1) Loss from discontinued operations before income taxes includes approximately $41 million of Held for sale impairment expense in the three months ended March 31, 2015. (2) In the first quarter ended March 31, 2015 , the Corporation recognized an aggregate after tax gain of $0.9 million on the sale of our Aviation Ground Support Equipment business, which operated within the Defense segment.

RECEIVABLES (Table)

RECEIVABLES (Table)	3 Months Ended
	Mar. 31, 2016
Receivables [Abstract]
Schedule Of Accounts Notes Loans And Financing Receivable	The composition of receivables is as follows: (In thousands) March 31, 2016 December 31, 2015 Billed receivables: Trade and other receivables $ 353,816 $ 435,172 Less: Allowance for doubtful accounts (5,759 ) (5,664 ) Net billed receivables 348,057 429,508 Unbilled receivables: Recoverable costs and estimated earnings not billed 151,063 153,045 Less: Progress payments applied (17,352 ) (16,264 ) Net unbilled receivables 133,711 136,781 Receivables, net $ 481,768 $ 566,289

INVENTORIES (Table)

INVENTORIES (Table)	3 Months Ended
	Mar. 31, 2016
Inventory, Net [Abstract]
Schedule Of Inventory	The composition of inventories is as follows: (In thousands) March 31, 2016 December 31, 2015 Raw materials $ 206,484 $ 196,684 Work-in-process 87,722 79,406 Finished goods and component parts 118,053 114,931 Inventoried costs related to long-term contracts 53,996 51,774 Gross inventories 466,255 442,795 Less: Inventory reserves (51,479 ) (48,904 ) Progress payments applied (11,749 ) (14,300 ) Inventories, net $ 403,027 $ 379,591

GOODWILL (Table)

GOODWILL (Table)	3 Months Ended
	Mar. 31, 2016
Goodwill [Abstract]
Schedule Of Goodwill	The changes in the carrying amount of goodwill for the three months ended March 31, 2016 are as follows: (In thousands) Commercial/ Industrial Defense Power Consolidated December 31, 2015 $ 447,828 $ 337,603 $ 187,175 $ 972,606 Foreign currency translation adjustment 748 5,085 185 6,018 March 31, 2016 $ 448,576 $ 342,688 $ 187,360 $ 978,624

OTHER INTANGIBLE ASSETS, NET (T

OTHER INTANGIBLE ASSETS, NET (Table)	3 Months Ended
	Mar. 31, 2016
Intangible Assets, Net (Excluding Goodwill) [Abstract]
Schedule Of Intangible Assets By Major Class	The following tables present the cumulative composition of the Corporation’s intangible assets: (In thousands) March 31, 2016 December 31, 2015 Gross Accumulated Amortization Net Gross Accumulated Amortization Net Technology $ 172,959 $ (94,475 ) $ 78,484 $ 171,382 $ (91,430 ) $ 79,952 Customer related intangibles 359,734 (146,920 ) 212,814 357,538 (140,816 ) 216,722 Other intangible assets 37,522 (22,817 ) 14,705 37,200 (23,111 ) 14,089 Total $ 570,215 $ (264,212 ) $ 306,003 $ 566,120 $ (255,357 ) $ 310,763

FAIR VALUE OF FINANCIAL INSTR28

FAIR VALUE OF FINANCIAL INSTRUMENTS (Table)	3 Months Ended
	Mar. 31, 2016
Fair Value Disclosures [Abstract]
Schedule of Fair Value Hedging Instruments, Statements of Financial Performance and Financial Position, Location	The location and amount of gains and (losses) on the hedged fixed rate debt attributable to changes in the market interest rates and the offsetting gain (loss) on the related interest rate swaps for the three months ended March 31, were as follows: Three Months Ended (In thousands) March 31, 2016 2015 Other income, net Gain on interest rate swaps $ — $ 11,910 Loss on hedged fixed rate debt — (11,910 ) Total $ — $ — Undesignated hedges The location and amount of gains and (losses) recognized in income on forward exchange derivative contracts not designated for hedge accounting for the three months ended March 31, were as follows: Three Months Ended (In thousands) March 31, Derivatives not designated as hedging instrument 2016 2015 Forward exchange contracts: General and administrative expenses $ (584 ) $ (972 ) The location and amounts of derivative instrument fair values in the condensed consolidated balance sheet are below. (In thousands) March 31, 2016 December 31, 2015 Assets Designated for hedge accounting Interest rate swaps $ — $ 3,083 Undesignated for hedge accounting Forward exchange contracts $ 256 $ 223 Total asset derivatives (A) $ 256 $ 3,306 Liabilities Undesignated for hedge accounting Forward exchange contracts $ 471 $ 673 Total liability derivatives (B) $ 471 $ 673 (A) Forward exchange derivatives are included in Other current assets and interest rate swaps assets are included in Other assets. (B) Forward exchange derivatives are included in Other current liabilities
Schedule of Carrying Values and Estimated Fair Values of Debt Instruments	(In thousands) March 31, 2016 December 31, 2015 Carrying Value Estimated Fair Value Carrying Value Estimated Fair Value 5.51% Senior notes due 2017 $ 150,000 $ 157,605 $ 150,000 $ 158,024 3.84% Senior notes due 2021 100,000 103,929 100,307 100,307 3.70% Senior notes due 2023 225,000 230,145 225,000 224,322 3.85% Senior notes due 2025 100,000 102,314 100,450 100,450 4.24% Senior notes due 2026 200,000 208,472 201,422 201,422 4.05% Senior notes due 2028 75,000 76,374 75,904 75,904 4.11% Senior notes due 2028 100,000 102,250 100,000 99,720 Other debt 919 919 1,259 1,259 Total debt 950,919 982,008 954,342 961,408 Unamortized debt issuance costs (1) (1,099 ) (1,099 ) (1,137 ) (1,137 ) Unamortized interest rate swap proceeds (2) 17,959 17,959 — — Total debt, net $ 967,779 $ 998,868 $ 953,205 $ 960,271 (1) Effective for 2016, the Company adopted ASU 2015-03 - Simplifying the Presentation of Debt Issuance Costs requiring unamortized debt issuance costs to be presented on the balance sheet as a direct deduction from the carrying amount of the related debt liability. Prior year balances have been reclassified to reflect the current year presentation. (2) In February 2016, the Company terminated its interest rate swap agreements. Upon termination of the interest rate swaps, we received $20.4 million in cash and recorded a deferred gain of $18.3 million . As of March 31, 2016 the remaining benefit of $18.0 million was recorded as an increase in the long-term debt balance and will be recognized ratably as a reduction to future interest expense over the remaining life of the related debt.

PENSION AND OTHER POSTRETIREM29

PENSION AND OTHER POSTRETIREMENT BENEFIT PLANS (Table)	3 Months Ended
	Mar. 31, 2016
General Discussion of Pension and Other Postretirement Benefits [Abstract]
Schedule Of Defined Benefit Plans Disclosures	The components of net periodic pension cost for the three months ended March 31, 2016 and 2015 are as follows: (In thousands) Three Months Ended March 31, 2016 2015 Service cost $ 6,237 $ 7,136 Interest cost 7,703 7,491 Expected return on plan assets (13,581 ) (13,679 ) Amortization of prior service cost (12 ) 155 Amortization of unrecognized actuarial loss 3,093 3,865 Net periodic benefit cost $ 3,440 $ 4,968

EARNINGS PER SHARE (Table)

EARNINGS PER SHARE (Table)	3 Months Ended
	Mar. 31, 2016
Earnings Per Share [Abstract]
Schedule of Earnings Per Share Reconciliation	A reconciliation of basic to diluted shares used in the earnings per share calculation is as follows: (In thousands) Three Months Ended March 31, 2016 2015 Basic weighted-average shares outstanding 44,578 47,724 Dilutive effect of stock options and deferred stock compensation 662 1,008 Diluted weighted-average shares outstanding 45,240 48,732

SEGMENT INFORMATION (Table)

SEGMENT INFORMATION (Table)	3 Months Ended
	Mar. 31, 2016
Segment Reporting [Abstract]
Schedule Of Segment Reporting Information By Segment	(In thousands) Three Months Ended March 31, 2016 2015 Net sales Commercial/Industrial $ 275,205 $ 299,898 Defense 105,730 114,352 Power 123,746 135,135 Less: Intersegment revenues (1,174 ) (3,186 ) Total consolidated $ 503,507 $ 546,199 Operating income (expense) Commercial/Industrial $ 30,052 $ 43,289 Defense 16,845 18,027 Power 14,628 19,512 Corporate and eliminations (1) (4,262 ) (7,993 ) Total consolidated $ 57,263 $ 72,835 (1) Corporate and eliminations includes pension and other postretirement benefit expense, certain environmental costs related to remediation at legacy sites, foreign currency transactional gains and losses, and certain other expenses.
Reconciliation of Operating Profit (Loss) from Segments to Consolidated	(In thousands) Three Months Ended March 31, 2016 2015 Total operating income $ 57,263 $ 72,835 Interest expense 9,933 8,996 Other income, net (234 ) (481 ) Earnings before income taxes $ 47,564 $ 64,320
Reconciliation Of Assets From Segment To Consolidated	(In thousands) March 31, 2016 December 31, 2015 Identifiable assets Commercial/Industrial $ 1,502,825 $ 1,480,052 Defense 804,191 800,613 Power 539,730 629,612 Corporate and Other 116,906 79,334 Total consolidated $ 2,963,652 $ 2,989,611

ACCUMULATED OTHER COMPREHENSI32

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) (Table)	3 Months Ended
	Mar. 31, 2016
Stockholders' Equity Note [Abstract]
Schedule of Comprehensive Income (Loss)	The cumulative balance of each component of accumulated other comprehensive income (loss), net of tax, is as follows: (In thousands) Foreign currency translation adjustments, net Total pension and postretirement adjustments, net Accumulated other comprehensive income (loss) December 31, 2014 $ (20,283 ) $ (108,128 ) $ (128,411 ) Current period other comprehensive income (loss) (87,527 ) (9,990 ) (97,517 ) December 31, 2015 $ (107,810 ) $ (118,118 ) $ (225,928 ) Other comprehensive loss before reclassifications (1) 17,105 (116 ) 16,989 Amounts reclassified from accumulated other comprehensive loss (1) — 1,728 1,728 Net current period other comprehensive income (loss) 17,105 1,612 18,717 March 31, 2016 $ (90,705 ) $ (116,506 ) $ (207,211 ) (1) All amounts are after tax.
Reclassification out of Accumulated Other Comprehensive Income	Details of amounts reclassified from accumulated other comprehensive income (loss) are below: (In thousands) Amount reclassified from Accumulated other comprehensive income (loss) Affected line item in the statement where net earnings is presented Defined benefit pension and other postretirement benefit plans Amortization of prior service costs 176 (1) Amortization of actuarial losses (2,950 ) (1) (2,774 ) Total before tax 1,046 Income tax Total reclassifications $ (1,728 ) Net of tax (1) These items are included in the computation of net periodic pension cost. See Note 8 , Pension and Other Postretirement Benefit Plans.

BASIS OF PRESENTATION Reclassif

BASIS OF PRESENTATION Reclassifications for Accounting Pronouncements (Details) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Total current assets	$ 1,260,204	$ 1,274,883
Other assets	11,707	17,715
Total assets	2,963,652	2,989,611
Other current liabilities	36,928	37,190
Total current liabilities	457,179	523,225
Long-term debt	966,861	951,946
Deferred tax liabilities, net	56,912	54,447
Total liabilities	1,676,945	1,734,188
Total liabilities and stockholders' equity	$ 2,963,652	2,989,611
Deferred Taxes [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Deferred tax assets. net		(41,737)
Total current assets		(41,737)
Other assets		3,107
Total assets		(38,630)
Other current liabilities		(1,962)
Total current liabilities		(1,962)
Deferred tax liabilities, net		(36,668)
Total liabilities		(38,630)
Total liabilities and stockholders' equity		(38,630)
Debt Issuance Costs [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Other assets		(1,137)
Total assets		(1,137)
Long-term debt		(1,137)
Total liabilities		(1,137)
Total liabilities and stockholders' equity		(1,137)
Scenario, Previously Reported [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Deferred tax assets. net		41,737
Total current assets		1,316,620
Other assets		15,745
Total assets		3,029,378
Other current liabilities		39,152
Total current liabilities		525,187
Long-term debt		953,083
Deferred tax liabilities, net		91,115
Total liabilities		1,773,955
Total liabilities and stockholders' equity		$ 3,029,378

DISCONTINUED OPERATIONS AND A34

DISCONTINUED OPERATIONS AND ASSETS HELD FOR SALE - Narrative (Details) $ in Thousands, £ in Millions	Jan. 09, 2015USD ($)	Jan. 09, 2015GBP (£)	Mar. 31, 2016USD ($)	Mar. 31, 2015USD ($)facility	Dec. 31, 2015USD ($)
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Proceeds from divestitures				$ 4,010	$ 31,000
Net sales			$ 0	34,259
Earnings /(loss) before income taxes			0	$ (40,112)
Number of businesses divested | facility				5
(Gain)/loss on sale of businesses				$ 1,252	17,000
Income tax expense (benefit)			$ 0	(12,678)	$ (3,300)
Aviation Ground Support [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Disposal date	Jan. 9, 2015	Jan. 9, 2015
Proceeds from divestitures	$ 4,000	£ 3
Net sales				600
Earnings /(loss) before income taxes				(1,000)
Facility Closing [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Net sales				34,300
Earnings /(loss) before income taxes				$ (40,100)

DISCONTINUED OPERATIONS AND A35

DISCONTINUED OPERATIONS AND ASSETS HELD FOR SALE - Summary of Financial Results (Details) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Dec. 31, 2015
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Net Sales	$ 0	$ 34,259
Loss from discontinued operations before income taxes	0	(40,112)
Income tax benefit	0	12,678	$ 3,300
Gain on sale of business	0	202
Earnings from discontinued operations	$ 0	(27,232)
Impairment of Long-Lived Assets to be Disposed of		40,813
Aviation Ground Support [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Net Sales		600
Loss from discontinued operations before income taxes		(1,000)
Defense [Member] | Discontinued Operations, Disposed of by Sale [Member] | Aviation Ground Support [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Gain on sale of business		$ 900

RECEIVABLES (Detail)

RECEIVABLES (Detail) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Billed receivables:
Trade and other receivables	$ 353,816	$ 435,172
Less: Allowance for doubtful accounts	(5,759)	(5,664)
Net billed receivables	348,057	429,508
Unbilled receivables:
Recoverable costs and estimated earnings not billed	151,063	153,045
Less: Progress payments applied	(17,352)	(16,264)
Net unbilled receivables	133,711	136,781
Receivables, net	$ 481,768	$ 566,289

INVENTORIES (Detail)

INVENTORIES (Detail) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Inventory, Net [Abstract]
Raw material	$ 206,484	$ 196,684
Work-in-process	87,722	79,406
Finished goods and component parts	118,053	114,931
Inventoried costs related to long-term contracts	53,996	51,774
Inventory, Gross	466,255	442,795
Less: Inventory reserves	(51,479)	(48,904)
Progress payments applied	(11,749)	(14,300)
Inventories, net	$ 403,027	$ 379,591

INVENTORIES (Narrative) (Detail

INVENTORIES (Narrative) (Detail) - USD ($) $ in Millions	Mar. 31, 2016	Dec. 31, 2015
Inventory, Net [Abstract]
Other inventory, capitalized costs	$ 30.3	$ 29.7
Other inventory, capitalized costs to be liquidated under firm orders	$ 1.8	$ 2.5

GOODWILL (Detail)

GOODWILL (Detail) $ in Thousands	3 Months Ended
	Mar. 31, 2016USD ($)
Goodwill [Roll Forward]
December 31, 2015	$ 972,606
Foreign currency translation adjustment	6,018
March 31, 2016	978,624
Commercial Industrial [Member]
Goodwill [Roll Forward]
December 31, 2015	447,828
Foreign currency translation adjustment	748
March 31, 2016	448,576
Defense [Member]
Goodwill [Roll Forward]
December 31, 2015	337,603
Foreign currency translation adjustment	5,085
March 31, 2016	342,688
Power [Member]
Goodwill [Roll Forward]
December 31, 2015	187,175
Foreign currency translation adjustment	185
March 31, 2016	$ 187,360

OTHER INTANGIBLE ASSETS, NET (D

OTHER INTANGIBLE ASSETS, NET (Detail) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Finite Lived Intangible Assets [Line Items]
Gross	$ 570,215	$ 566,120
Accumulated Amortization	(264,212)	(255,357)
Net	306,003	310,763
Technology [Member]
Finite Lived Intangible Assets [Line Items]
Gross	172,959	171,382
Accumulated Amortization	(94,475)	(91,430)
Net	78,484	79,952
Customer Related Intangibles [Member]
Finite Lived Intangible Assets [Line Items]
Gross	359,734	357,538
Accumulated Amortization	(146,920)	(140,816)
Net	212,814	216,722
Other Intangible Assets [Member]
Finite Lived Intangible Assets [Line Items]
Gross	37,522	37,200
Accumulated Amortization	(22,817)	(23,111)
Net	$ 14,705	$ 14,089

OTHER INTANGIBLE ASSETS, NET (N

OTHER INTANGIBLE ASSETS, NET (Narrative) (Detail) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Intangible Assets, Net (Excluding Goodwill) [Abstract]
Amortization expense	$ 8.4	$ 8.6
Finite-Lived Intangible Assets, Amortization Expense, Next Twelve Months	33.8
Future amortization expense in year two	33.2
Future amortization expense in year three	32.2
Future amortization expense in year four	30.4
Future amortization expense in year five	$ 28.4

FAIR VALUE OF FINANCIAL INSTR42

FAIR VALUE OF FINANCIAL INSTRUMENTS (Interest Rate Swap) (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2016USD ($)
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Other Operating Activities, Cash Flow Statement	$ 20,405

FAIR VALUE OF FINANCIAL INSTR43

FAIR VALUE OF FINANCIAL INSTRUMENTS (Balance Sheet) (Detail) - USD ($) $ in Thousands		Mar. 31, 2016	Dec. 31, 2015
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Assets	[1]	$ 256	$ 3,306
Liabilities	[2]	471	673
Designated as Hedging Instrument [Member] | Interest Rate Swap [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Assets			3,083
Not Designated as Hedging Instrument [Member] | Foreign Exchange Forward [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Assets		256	223
Liabilities		$ 471	$ 673
[1]	Forward exchange derivatives are included in Other current assets and interest rate swaps assets are included in Other assets.
[2]	Forward exchange derivatives are included in Other current liabilities

FAIR VALUE OF FINANCIAL INSTR44

FAIR VALUE OF FINANCIAL INSTRUMENTS (Income Loss) (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
General And Administrative Expense [Member]
Derivative Instruments Gain Loss [Line Items]
General and administrative expenses	$ (584)	$ (972)
Swap [Member] | Other Income [Member]
Derivative Instruments Gain Loss [Line Items]
Gain on interest rate swaps		11,910
Borrowings [Member] | Other Income [Member]
Derivative Instruments Gain Loss [Line Items]
Gain on interest rate swaps		$ (11,910)

FAIR VALUE OF FINANCIAL INSTR45

FAIR VALUE OF FINANCIAL INSTRUMENTS (Debt) (Detail) - USD ($) $ in Thousands	Mar. 31, 2016	Feb. 29, 2016	Dec. 31, 2015
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Long-term Debt, Gross	$ 950,919		$ 954,342
Unamortized interest rate swap proceeds	17,959	$ 18,258
Less: Debt Issuance Costs, Net	(1,099)		(1,137)
Carrying Value	967,779		953,205
Estimated Fair Value	998,868		960,271
Long-term Debt, Gross [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Estimated Fair Value	982,008		961,408
5.51% Senior notes due 2017 [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Carrying Value	150,000		150,000
Estimated Fair Value	$ 157,605		158,024
Interest rate	5.51%
3.84% Senior notes due 2021 [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Carrying Value	$ 100,000		100,307
Estimated Fair Value	$ 103,929		100,307
Interest rate	3.84%
3.70% Senior notes due 2023 [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Carrying Value	$ 225,000		225,000
Estimated Fair Value	$ 230,145		224,322
Interest rate	3.70%
3.85% Senior notes due 2025 [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Carrying Value	$ 100,000		100,450
Estimated Fair Value	$ 102,314		100,450
Interest rate	3.85%
4.24% Senior notes due 2026 [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Carrying Value	$ 200,000		201,422
Estimated Fair Value	$ 208,472		201,422
Interest rate	4.24%
4.05% Senior notes due 2028 [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Carrying Value	$ 75,000		75,904
Estimated Fair Value	$ 76,374		75,904
Interest rate	4.05%
4.11% Senior notes due 2028 [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Carrying Value	$ 100,000		100,000
Estimated Fair Value	$ 102,250		99,720
Interest rate	4.11%
Other debt [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Carrying Value	$ 919		1,259
Estimated Fair Value	$ 919		$ 1,259

FAIR VALUE OF FINANCIAL INSTR46

FAIR VALUE OF FINANCIAL INSTRUMENTS Nonrecurring measurements (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2015USD ($)
Fair Value Disclosures [Abstract]
Impairment of assets held for sale	$ 40,813

PENSION AND OTHER POSTRETIREM47

PENSION AND OTHER POSTRETIREMENT BENEFIT PLANS (Detail) - Pension Plans Defined Benefit [Member] - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Defined Benefit Plan Disclosure [Line Items]
Service cost	$ 6,237	$ 7,136
Interest cost	7,703	7,491
Expected return on plan assets	(13,581)	(13,679)
Amortization of prior service cost	(12)	155
Amortization of unrecognized actuarial loss	3,093	3,865
Net postretirement benefit cost (income)	$ 3,440	$ 4,968

PENSION AND OTHER POSTRETIREM48

PENSION AND OTHER POSTRETIREMENT BENEFIT PLANS (Additional) (Detail) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Defined Benefit Plan Disclosure [Line Items]
Defined contribution plan, employer contribution, maximum percentage	6.00%
Defined contribution plan, expense relating to the plan	$ 3.2	$ 4.1
Contributions made by the corporation to the plan	7.8
Estimated future contributions for the current fiscal year	$ 12.4

EARNINGS PER SHARE (Detail)

EARNINGS PER SHARE (Detail) - shares shares in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Earnings Per Share Reconciliation [Abstract]
Basic weighted-average shares outstanding (shares)	44,578	47,724
Dilutive effect of stock options and deferred stock compensation (shares)	662	1,008
Diluted weighted-average shares outstanding (shares)	45,240	48,732

SEGMENT INFORMATION (Detail)

SEGMENT INFORMATION (Detail) - USD ($) $ in Thousands		3 Months Ended
		Mar. 31, 2016	Mar. 31, 2015	Dec. 31, 2015
Segment Reporting Information [Line Items]
Net sales		$ 503,507	$ 546,199
Operating income (expense)		57,263	72,835
Identifiable assets		2,963,652		$ 2,989,611
Commercial Industrial [Member]
Segment Reporting Information [Line Items]
Net sales		275,205	299,898
Operating income (expense)		30,052	43,289
Identifiable assets		1,502,825		1,480,052
Defense [Member]
Segment Reporting Information [Line Items]
Net sales		105,730	114,352
Operating income (expense)		16,845	18,027
Identifiable assets		804,191		800,613
Power [Member]
Segment Reporting Information [Line Items]
Net sales		123,746	135,135
Operating income (expense)		14,628	19,512
Identifiable assets		539,730		629,612
Intersegment Eliminations [Member]
Segment Reporting Information [Line Items]
Net sales		(1,174)	(3,186)
Corporate and Eliminations [Member]
Segment Reporting Information [Line Items]
Operating income (expense)	[1]	(4,262)	$ (7,993)
Corporate and Other [Member]
Segment Reporting Information [Line Items]
Identifiable assets		$ 116,906		$ 79,334
[1]	Corporate and eliminations includes pension and other postretirement benefit expense, certain environmental costs related to remediation at legacy sites, foreign currency transactional gains and losses, and certain other expenses.

SEGMENT INFORMATION (Reconcilia

SEGMENT INFORMATION (Reconciliation) (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Segment Reporting [Abstract]
Total operating income	$ 57,263	$ 72,835
Interest expense	(9,933)	(8,996)
Other income, net	234	481
Earnings before income taxes	$ 47,564	$ 64,320

ACCUMULATED OTHER COMPREHENSI52

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) (Detail) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Dec. 31, 2015
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance	$ (225,928)	$ (128,411)	$ (128,411)
Other comprehensive income (loss) before reclassifications	16,989
Amounts reclassified from accumulated other comprehensive loss	1,728
Other comprehensive income (loss), net of tax	18,717	(54,070)	(97,517)
Ending balance	(207,211)		(225,928)
Foreign Currency Translation Adjustments, Net [Member]
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance	(107,810)	(20,283)	(20,283)
Other comprehensive income (loss) before reclassifications	17,105
Amounts reclassified from accumulated other comprehensive loss	0
Other comprehensive income (loss), net of tax	17,105		(87,527)
Ending balance	(90,705)		(107,810)
Total Pension and Postretirment Adjustments, Net [Member]
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance	(118,118)	$ (108,128)	(108,128)
Other comprehensive income (loss) before reclassifications	(116)
Amounts reclassified from accumulated other comprehensive loss	1,728
Other comprehensive income (loss), net of tax	1,612		(9,990)
Ending balance	$ (116,506)		$ (118,118)

ACCUMULATED OTHER COMPREHENSI53

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) (Reclass) (Detail) - USD ($) $ in Thousands		3 Months Ended
		Mar. 31, 2016	Mar. 31, 2015
Accumulated Other Comprehensive Income (Loss) [Line Items]
Earnings before income taxes		$ 47,564	$ 64,320
Income tax		(14,745)	(21,097)
Net earnings		32,819	$ 15,991
Reclassification out of Accumulated Other Comprehensive Income [Member] | Total Pension and Postretirment Adjustments, Net [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Amortization of prior service costs	[1]	176
Amortization of actuarial losses	[1]	(2,950)
Earnings before income taxes		(2,774)
Income tax		1,046
Net earnings		$ (1,728)
[1]	These items are included in the computation of net periodic pension cost. See Note 8, Pension and Other Postretirement Benefit Plans.

CONTINGENCIES AND COMMITMENTS (

CONTINGENCIES AND COMMITMENTS (Detail) - USD ($) $ in Millions	Oct. 10, 2013	Mar. 31, 2016	Dec. 31, 2015
Loss Contingencies [Line Items]
Surety Bond Outstanding		$ 56
Damages sought		1,000
Failure to Meet Contractual Obligations [Member]
Loss Contingencies [Line Items]
Damages sought	$ 25
Standby Letters Of Credit [Member]
Loss Contingencies [Line Items]
Letters of credit, outstanding		36	$ 37.3
FinancialStandbyLetterOfCreditMember
Loss Contingencies [Line Items]
Letters of credit, outstanding		13.6	$ 14.7
Discontinued Operations, Held-for-sale [Member] | Standby Letters Of Credit [Member]
Loss Contingencies [Line Items]
Letters of credit, outstanding		2.4
Minimum [Member]
Loss Contingencies [Line Items]
Range of possible loss, maximum		0
Maximum [Member]
Loss Contingencies [Line Items]
Range of possible loss, maximum		$ 48

Uncategorized Items - cw-201603

Label	Element	Value
AOCI Attributable to Parent [Member]
Other Comprehensive Income (Loss), Net of Tax	us-gaap_OtherComprehensiveIncomeLossNetOfTax	$ (97,517,000)
Additional Paid-in Capital [Member]
Stock Issued During Period, Value, Restricted Stock Award, Net of Forfeitures	us-gaap_StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures	(10,303,000)
Stock Issued During Period, Value, Stock Options Exercised	us-gaap_StockIssuedDuringPeriodValueStockOptionsExercised	(11,349,000)
Adjustments to Additional Paid in Capital, Share-based Compensation, Requisite Service Period Recognition	us-gaap_AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue	(9,179,000)
Stockholders' Equity, Other	us-gaap_StockholdersEquityOther	(647,000)
Retained Earnings [Member]
Net Income (Loss) Attributable to Parent	us-gaap_NetIncomeLoss	145,461,000
Dividends, Common Stock, Cash	us-gaap_DividendsCommonStockCash	24,122,000
Treasury Stock [Member]
Stock Issued During Period, Value, Restricted Stock Award, Net of Forfeitures	us-gaap_StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures	13,734,000
Stock Issued During Period, Value, Stock Options Exercised	us-gaap_StockIssuedDuringPeriodValueStockOptionsExercised	45,743,000
Adjustments to Additional Paid in Capital, Share-based Compensation, Requisite Service Period Recognition	us-gaap_AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue	(294,000)
Stockholders' Equity, Other	us-gaap_StockholdersEquityOther	647,000
Stock Repurchased During Period, Value	us-gaap_StockRepurchasedDuringPeriodValue	$ 294,130,000