Curtiss-Wright (CW) 10-Q 27 Jul 17 2017 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information	6 Months Ended
	Jun. 30, 2017shares
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	Jun. 30, 2017
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	Q2
Amendment Flag	false
Entity common stock shares outstanding	44,137,906
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		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Net sales
Product sales	$ 459,774	$ 427,324	$ 883,003	$ 830,242
Service sales	107,879	105,442	208,241	206,031
Total net sales	567,653	532,766	1,091,244	1,036,273
Cost of sales
Cost of product sales	299,739	279,869	586,231	544,604
Cost of service sales	69,144	67,518	135,468	134,387
Total cost of sales	368,883	347,387	721,699	678,991
Gross profit	198,770	185,379	369,545	357,282
Research and development expenses	15,501	15,236	30,799	30,396
Selling expenses	28,560	29,126	57,513	58,752
General and administrative expenses	71,438	72,928	146,735	142,782
Operating income	83,271	68,089	134,498	125,352
Interest expense	(10,750)	(10,273)	(21,127)	(20,206)
Other income, net	190	101	502	335
Earnings from continuing operations before income taxes	72,711	57,917	113,873	105,481
Provision for income taxes	(22,061)	(17,954)	(30,676)	(32,699)
Net earnings	$ 50,650	$ 39,963	$ 83,197	$ 72,782
Basic earnings per share
Basic earnings per share (usd per share)	$ 1.15	$ 0.90	$ 1.88	$ 1.63
Diluted earnings per share
Diluted earnings per share (usd per share)	1.13	0.88	1.86	1.61
Dividends per share	$ 0.13	$ 0.13	$ 0.26	$ 0.26
Weighted average shares outstanding:
Basic (shares)	44,213	44,487	44,221	44,526
Diluted (shares)	44,807	45,164	44,825	45,195

CONDENSED CONSOLIDATED STATEME3

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (Unaudited) - USD ($) $ in Thousands		3 Months Ended		6 Months Ended
		Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Statement of Comprehensive Income [Abstract]
Net earnings		$ 50,650	$ 39,963	$ 83,197	$ 72,782
Other comprehensive income
Foreign currency translation, net of tax	[1]	32,677	(31,646)	43,901	(14,541)
Pension and postretirement adjustments, net of tax	[2]	1,743	1,520	3,694	3,132
Other comprehensive income (loss), net of tax		34,420	(30,126)	47,595	(11,409)
Comprehensive income		$ 85,070	$ 9,837	$ 130,792	$ 61,373
[1]	The tax expense included in other comprehensive income for foreign currency translation adjustments for the three and six months ended June 30, 2017 were $1.1 million and $1.2 million, respectively. The tax benefit included in other comprehensive loss for foreign currency translation adjustments for the three and six months ended June 30, 2016 were $1.3 million and $0.3 million, respectively.
[2]	The tax expense included in other comprehensive income for pension and postretirement adjustments for the three and six months ended June 30, 2017 were $1.2 million and $2.5 million, respectively. The tax expense included in other comprehensive income for pension and postretirement adjustments for the three and six months ended June 30, 2016 were $1.1 million and $2.1 million, respectively.

CONDENSED CONSOLIDATED STATEME4

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Parentheticals) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Statement of Comprehensive Income [Abstract]
Other Comprehensive Income (Loss), Foreign Currency Translation Adjustment, Tax	$ 1.1	$ (1.3)	$ 1.2	$ (0.3)
Other Comprehensive (Income) Loss, Defined Benefit Plan, after Reclassification Adjustment, Tax, Attributable to Parent	$ 1.2	$ 1.1	$ 2.5	$ 2.1

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 30, 2017	Dec. 31, 2016
Current Assets:
Cash and cash equivalents	$ 342,711	$ 553,848
Receivables, net	502,216	463,062
Inventories, net	396,245	366,974
Other current assets	45,932	30,927
Total current assets	1,287,104	1,414,811
Property, plant, and equipment, net	390,520	388,903
Goodwill	1,082,944	951,057
Other intangible assets, net	345,991	271,461
Other assets	14,715	11,549
Total assets	3,121,274	3,037,781
Current liabilities:
Current portion of long-term debt and short-term debt	150,820	150,668
Accounts payable	157,088	177,911
Accrued expenses	116,492	130,239
Income taxes payable	10,578	18,274
Deferred revenue	183,955	170,143
Other current liabilities	34,858	28,027
Total current liabilities	653,791	675,262
Long-term debt	814,810	815,630
Deferred tax liabilities, net	55,675	49,722
Accrued pension and other postretirement benefit costs	103,181	107,151
Long-term portion of environmental reserves	16,091	14,024
Other liabilities	84,561	84,801
Total liabilities	1,728,109	1,746,590
Stockholders' Equity
Common stock, $1 par value,100,000,000 shares authorized at June 30, 2017 and December 31, 2016; 49,187,378 shares issued at June 30, 2017 and December 31, 2016; outstanding shares were 44,137,906 at June 30, 2017 and 44,181,050 at December 31, 2016	49,187	49,187
Additional paid in capital	122,584	129,483
Retained earnings	1,825,697	1,754,907
Accumulated other comprehensive loss	(244,161)	(291,756)
Common treasury stock, at cost (5,049,472 shares at June 30, 2017 and 5,006,328 shares at December 31, 2016)	(360,142)	(350,630)
Total stockholders' equity	1,393,165	1,291,191
Total liabilities and stockholders' equity	$ 3,121,274	$ 3,037,781

CONDENSED CONSOLIDATED BALANCE6

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Jun. 30, 2017	Dec. 31, 2016
Statement of Financial Position [Abstract]
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	49,187,378
Common Stock, Shares, Outstanding	44,137,906	44,181,050
Treasury Stock, Shares	5,049,472	5,006,328

CONDENSED CONSOLIDATED STATEME7

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016
Cash flows from operating activities:
Net earnings	$ 83,197	$ 72,782
Adjustments to reconcile net earnings to net cash provided by operating activities
Depreciation and amortization	49,961	48,987
Gain on fixed asset disposals	(197)	(28)
Deferred income taxes	(1,750)	14,127
Share-based compensation	6,016	4,985
Change in operating assets and liabilities, net of businesses acquired and divested:
Accounts receivable, net	(27,246)	85,281
Inventories, net	534	(14,527)
Progress payments	(1,316)	(345)
Accounts payable and accrued expenses	(48,229)	(65,856)
Deferred revenue	11,171	9,153
Income taxes payable	(13,217)	(25,412)
Net pension and postretirement liabilities	1,041	412
Other Operating Activities, Cash Flow Statement	0	20,405
Other current and long-term assets and liabilities	967	6,667
Net cash provided by operating activities	60,932	156,631
Cash flows from investing activities:
Proceeds from sales and disposals of long lived assets	349	244
Additions to property, plant, and equipment	(23,288)	(15,733)
Acquisition of businesses, net of cash acquired	(232,630)	(295)
Net cash used for investing activities	(255,569)	(15,784)
Cash flows from financing activities:
Borrowings under revolving credit facility	2,736	3,755
Payment of revolving credit facility	(2,584)	(3,901)
Repurchases of common stock	(26,454)	(54,958)
Proceeds from share-based compensation	5,374	13,098
Dividends paid	(5,757)	(5,797)
Excess tax benefits from share-based compensation plans	0	6,220
Proceeds from (Payments for) Other Financing Activities	(336)	(308)
Net cash used for financing activities	(27,021)	(41,891)
Effect of exchange-rate changes on cash	10,521	(4,502)
Net increase (decrease) in cash and cash equivalents	(211,137)	94,454
Cash and cash equivalents at beginning of period	553,848	288,697
Cash and cash equivalents at end of period	342,711	383,151
Supplemental disclosure of non-cash activities:
Capital expenditures incurred but not yet paid	$ 1,641	$ 775

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 Loss Member	Treasury Stock Member
Beginning Balance at Dec. 31, 2015		$ 49,190	$ 144,923	$ 1,590,645	$ (225,928)	$ (303,407)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net earnings				187,329
Other comprehensive loss, net of tax	$ (65,828)				(65,828)
Dividends paid/declared				(23,067)
Restricted stock			(12,086)			17,275
Stock options exercised			(11,271)			39,483
Other		3	(1,104)			811
Share-based compensation			9,021			457
Repurchases of common stock						(105,249)
Ending Balance at Dec. 31, 2016	1,291,191	49,187	129,483	1,754,907	(291,756)	(350,630)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net earnings	83,197			83,197
Other comprehensive loss, net of tax	47,595				47,595
Dividends paid/declared				(11,498)
Restricted stock			(9,618)			9,618
Stock options exercised			(851)			6,227
Other			(2,099)	(909)		750
Share-based compensation			5,669			347
Repurchases of common stock						(26,454)
Ending Balance at Jun. 30, 2017	$ 1,393,165	$ 49,187	$ 122,584	$ 1,825,697	$ (244,161)	$ (360,142)

BASIS OF PRESENTATION

BASIS OF PRESENTATION	6 Months Ended
	Jun. 30, 2017
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. During the three and six months ended June 30, 2017 and 2016 , 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 2016 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 Standard Description Effect on the condensed consolidated financial statements ASU 2017-04 Simplifying the Test for Goodwill Impairment In January 2017, the FASB issued ASU 2017-04, Simplifying the Test for Goodwill Impairment, which simplifies the measurement of goodwill impairment testing by removing step two. This guidance was early adopted effective January 1, 2017 and will be applied prospectively. The adoption of this standard does not have a financial impact on the Condensed Consolidated Financial Statements. Date of adoption: January 1, 2017 ASU 2016-09 Improvements to Employee Share-Based Payment Accounting In March 2016, the FASB issued ASU 2016-09, Improvements to Employee Share-Based Payment Accounting, 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 and forfeitures. Excess tax benefits previously reported as cash flows from financing activities in the Condensed Consolidated Financial Statements are now required to be reported as operating activities. The Company adopted this guidance effective January 1, 2017. The Corporation recorded an income tax benefit of approximately $4 million within the provision for income taxes for the six months ended June 30, 2017 related to the excess tax benefit on stock options and performance share units. Prior to adoption, this amount would have been recorded as an increase to additional paid-in capital. The Corporation elected to account for forfeitures as they occur, which did not have a material impact on its Condensed Consolidated Financial Statements. Date of adoption: January 1, 2017 Recent accounting pronouncements to be adopted Standard Description Effect on the condensed consolidated 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 plans to apply the modified retrospective approach upon adoption and is currently evaluating the impact of adoption on its Condensed Consolidated Financial Statements as of January 1, 2018. We have performed a preliminary review of our customer contracts; however, our assessment is still ongoing and not yet complete. It is expected that the disclosures in our Notes to the Condensed Consolidated Financial Statements related to revenue recognition will be expanded under the new standard. The Corporation will continue to monitor interpretative guidance issued by the FASB which may cause our evaluation to change. 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 guidance requires the use of a modified retrospective approach. The Corporation is currently evaluating the impact of the adoption of this standard on its Condensed Consolidated Financial Statements. Date of adoption: January 1, 2019 ASU 2017-01 Clarifying the Definition of a Business In January 2017, the FASB issued ASU 2017-01, which clarifies the definition of a business to assist entities with evaluating whether transactions should be accounted for as acquisitions or disposals of assets or businesses. The standard introduces a screen for determining when assets acquired are not a business and clarifies that a business must include, at a minimum, an input and a substantive process that contribute to an output. The standard is effective for fiscal years beginning after December 15, 2017, and interim periods within those fiscal years. The Corporation is currently evaluating the impact of the adoption of this standard on its Condensed Consolidated Financial Statements. Date of adoption: January 1, 2018 ASU 2017-07 Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost In March 2017, the FASB issued final guidance that will change how the net periodic benefit cost for defined benefit pension and other postretirement benefit plans are presented in the income statement and the respective capitalization of assets on the balance sheet. The guidance requires the use of a retrospective approach for the presentation of the income statement and a prospective approach for the presentation of the balance sheet. The Corporation is currently evaluating the impact of the adoption of this standard on its Condensed Consolidated Financial Statements. Date of adoption: January 1, 2018

ACQUISITIONS

ACQUISITIONS	6 Months Ended
	Jun. 30, 2017
Business Combinations [Abstract]
ACQUISITIONS	2 . ACQUISITIONS The Corporation continually evaluates potential acquisitions that either strategically fit within the Corporation’s existing portfolio or expand the Corporation’s portfolio into new product lines or adjacent markets. The Corporation has completed a number of acquisitions that have been accounted for as business combinations and have resulted in the recognition of goodwill in the Corporation's financial statements. This goodwill arises because the purchase prices for these businesses reflect the future earnings and cash flow potential in excess of the earnings and cash flows attributable to the current product and customer set at the time of acquisition. Thus, goodwill inherently includes the know-how of the assembled workforce, the ability of the workforce to further improve the technology and product offerings, and the expected cash flows resulting from these efforts. Goodwill may also include expected synergies resulting from the complementary strategic fit these businesses bring to existing operations. The Corporation allocates the purchase price at the date of acquisition based upon its understanding of the fair value of the acquired assets and assumed liabilities. In the months after closing, as the Corporation obtains additional information about these assets and liabilities, including through tangible and intangible asset appraisals, and as the Corporation learns more about the newly acquired business, it is able to refine the estimates of fair value and more accurately allocate the purchase price. Only items identified as of the acquisition date are considered for subsequent adjustment. The Corporation will make appropriate adjustments to the purchase price allocation prior to completion of the measurement period, as required. During the six months ended June 30, 2017 , the Corporation acquired two businesses for an aggregate purchase price of $233 million , which are described in more detail below. No acquisitions were made during the six months ended June 30, 2016 . The Condensed Consolidated Statement of Earnings includes $25 million of total net sales and $4 million of net losses from the Corporation's 2017 acquisitions. The following table summarizes the estimated fair values of the assets acquired and liabilities assumed at the date of acquisition for all acquisitions consummated during the six months ended June 30, 2017 . (In thousands) 2017 2016 Accounts receivable $ 5,020 $ — Inventory 22,702 — Property, plant, and equipment 4,598 — Other current and non-current assets 2,815 — Intangible assets 88,900 — Current and non-current liabilities (7,163 ) — Due to seller, net (509 ) — Net tangible and intangible assets 116,363 — Purchase price, net of cash acquired 232,630 — Goodwill $ 116,267 $ — Goodwill deductible for tax purposes $ 116,267 $ — 2017 Acquisitions Teletronics Technology Corporation (TTC) On January 3, 2017 , the Corporation acquired 100% of the issued and outstanding capital stock of TTC for $226.0 million , net of cash acquired. The Share Purchase Agreement contains a purchase price adjustment mechanism and representations and warranties customary for a transaction of this type, including a portion of the purchase price deposited in escrow as security for potential indemnification claims against the seller. TTC is a designer and manufacturer of high-technology data acquisition and comprehensive flight test instrumentation systems for critical aerospace and defense applications. For the year ended December 31, 2016, TTC generated sales of $64 million . The acquired business operates within the Defense segment. The acquisition is subject to post-closing adjustments as the purchase price allocation is not yet complete. Para Tech Coating, Inc. (Para Tech) On February 8, 2017 , the Corporation acquired certain assets and assumed certain liabilities of Para Tech for $6.6 million in cash. The Asset Purchase Agreement contains a purchase price adjustment mechanism and representations and warranties customary for a transaction of this type, including a portion of the purchase price held back as security for potential indemnification claims against the seller. Para Tech is a provider of parylene conformal coating services for aerospace & defense electronic components as well as critical medical devices. The acquired business operates within the Commercial/Industrial segment. The acquisition is subject to post-closing adjustments as the purchase price allocation is not yet complete.

RECEIVABLES

RECEIVABLES	6 Months Ended
	Jun. 30, 2017
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) June 30, 2017 December 31, 2016 Billed receivables: Trade and other receivables $ 374,691 $ 340,091 Less: Allowance for doubtful accounts (7,219 ) (4,832 ) Net billed receivables 367,472 335,259 Unbilled receivables: Recoverable costs and estimated earnings not billed 158,006 149,847 Less: Progress payments applied (23,262 ) (22,044 ) Net unbilled receivables 134,744 127,803 Receivables, net $ 502,216 $ 463,062

INVENTORIES

INVENTORIES	6 Months Ended
	Jun. 30, 2017
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) June 30, 2017 December 31, 2016 Raw materials $ 195,461 $ 189,228 Work-in-process 85,321 73,843 Finished goods 123,362 112,478 Inventoried costs related to U.S. Government and other long-term contracts 60,008 57,516 Gross inventories 464,152 433,065 Less: Inventory reserves (58,108 ) (54,988 ) Progress payments applied, principally related to long-term contracts (9,799 ) (11,103 ) Inventories, net $ 396,245 $ 366,974 Inventoried costs related to long-term contracts include capitalized contract development costs related to certain aerospace and defense programs of $29.9 million and $28.8 million , as of June 30, 2017 and December 31, 2016 , respectively. These capitalized costs will be liquidated as production units are delivered to the customers. As of June 30, 2017 and December 31, 2016 , $4.6 million and $3.9 million , respectively, are scheduled to be liquidated under existing firm orders.

GOODWILL

GOODWILL	6 Months Ended
	Jun. 30, 2017
Goodwill [Abstract]
GOODWILL	GOODWILL The changes in the carrying amount of goodwill for the six months ended June 30, 2017 are as follows: (In thousands) Commercial/Industrial Defense Power Consolidated December 31, 2016 $ 436,141 $ 327,655 $ 187,261 $ 951,057 Acquisitions 2,420 113,847 — 116,267 Foreign currency translation adjustment 6,468 9,044 108 15,620 June 30, 2017 $ 445,029 $ 450,546 $ 187,369 $ 1,082,944

OTHER INTANGIBLE ASSETS, NET

OTHER INTANGIBLE ASSETS, NET	6 Months Ended
	Jun. 30, 2017
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: June 30, 2017 December 31, 2016 (In thousands) Gross Accumulated Amortization Net Gross Accumulated Amortization Net Technology $ 240,858 $ (105,400 ) $ 135,458 $ 166,859 $ (98,266 ) $ 68,593 Customer related intangibles 363,500 (168,351 ) 195,149 349,742 (157,154 ) 192,588 Other intangible assets 40,250 (24,866 ) 15,384 36,709 (26,429 ) 10,280 Total $ 644,608 $ (298,617 ) $ 345,991 $ 553,310 $ (281,849 ) $ 271,461 During the six months ended June 30, 2017 , the Corporation acquired intangible assets of $88.9 million . The Corporation acquired Technology of $73.0 million , Customer related intangibles of $12.9 million , and Other intangible assets of $3.0 million , which have a weighted average amortization period of 15.0 years, 16.3 years, and 7.0 years, respectively. Total intangible amortization expense for the six months ended June 30, 2017 was $19.1 million as compared to $16.8 million in the prior year period. The estimated amortization expense for the five years ending December 31, 2017 through 2021 is $38.7 million , $37.7 million , $36.0 million , $34.1 million , and $32.3 million , respectively.

FAIR VALUE OF FINANCIAL INSTRUM

FAIR VALUE OF FINANCIAL INSTRUMENTS	6 Months Ended
	Jun. 30, 2017
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 and option 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. The Corporation’s foreign exchange contracts and interest rate swaps are considered Level 2 instruments which are based on market based inputs or unobservable inputs and corroborated by market data such as quoted prices, interest rates, or yield curves. Effects on Consolidated Balance Sheets As of June 30, 2017 and December 31, 2016, the fair values of the asset and liability derivative instruments are immaterial. Effects on Condensed Consolidated Statements of Earnings Undesignated hedges The location and amount of losses or (gains) recognized in income on forward exchange derivative contracts not designated for hedge accounting for the three and six months ended June 30, were as follows: Three Months Ended Six Months Ended (In thousands) June 30, June 30, Derivatives not designated as hedging instrument 2017 2016 2017 2016 Forward exchange contracts: General and administrative expenses $ (93 ) $ 4,452 $ 614 $ 5,036 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 June 30, 2017 . 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. June 30, 2017 December 31, 2016 (In thousands) Carrying Value Estimated Fair Value Carrying Value Estimated Fair Value 5.51% Senior notes due 2017 150,000 152,161 150,000 154,509 3.84% Senior notes due 2021 100,000 104,107 100,000 102,463 3.70% Senior notes due 2023 225,000 232,173 225,000 226,946 3.85% Senior notes due 2025 100,000 103,389 100,000 100,338 4.24% Senior notes due 2026 200,000 211,038 200,000 203,592 4.05% Senior notes due 2028 75,000 77,685 75,000 74,630 4.11% Senior notes due 2028 100,000 104,158 100,000 99,876 Other debt 820 820 668 668 Total debt 950,820 985,531 950,668 963,022 Debt issuance costs, net (907 ) (907 ) (984 ) (984 ) Unamortized interest rate swap proceeds 15,717 15,717 16,614 16,614 Total debt, net $ 965,630 $ 1,000,341 $ 966,298 $ 978,652

PENSION AND OTHER POSTRETIREMEN

PENSION AND OTHER POSTRETIREMENT BENEFIT PLANS	6 Months Ended
	Jun. 30, 2017
Retirement Benefits, Description [Abstract]
PENSION AND OTHER POSTRETIREMENT BENEFIT PLANS	PENSION AND OTHER POSTRETIREMENT BENEFIT PLANS The following tables are consolidated disclosures of all domestic and foreign defined pension plans as described in the Corporation’s 2016 Annual Report on Form 10-K. Pension Plans The components of net periodic pension cost for the three and six months ended June 30, 2017 and 2016 were as follows: Three Months Ended Six Months Ended (In thousands) June 30, June 30, 2017 2016 2017 2016 Service cost $ 6,474 $ 6,248 $ 12,945 $ 12,485 Interest cost 6,236 7,709 12,455 15,412 Expected return on plan assets (13,310 ) (13,590 ) (26,595 ) (27,171 ) Amortization of prior service cost (26 ) (11 ) (51 ) (23 ) Amortization of unrecognized actuarial loss 3,585 3,093 7,166 6,186 Net periodic benefit cost $ 2,959 $ 3,449 $ 5,920 $ 6,889 During the six months ended June 30, 2017 , the Corporation made no contributions to the Curtiss-Wright Pension Plan, and does not expect to make any contributions in 2017 . Contributions to the foreign benefit plans are not expected to be material in 2017 . 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 six months ended June 30, 2017 and 2016 , the expense relating to the plan was $6.8 million and $6.0 million , respectively. The Corporation made $9.4 million in contributions to the plan during the six months ended June 30, 2017 , and expects to make total contributions of $11.8 million in 2017 .

EARNINGS PER SHARE

EARNINGS PER SHARE	6 Months Ended
	Jun. 30, 2017
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: Three Months Ended Six Months Ended (In thousands) June 30, June 30, 2017 2016 2017 2016 Basic weighted-average shares outstanding 44,213 44,487 44,221 44,526 Dilutive effect of stock options and deferred stock compensation 594 677 604 669 Diluted weighted-average shares outstanding 44,807 45,164 44,825 45,195 For the three months and six months ended June 30, 2017 , approximately 38,000 shares issuable under equity-based awards were excluded from the calculation of diluted earnings per share as they were anti-dilutive based on the average stock price during the period. For the three and six months ended June 30, 2016 , there were no anti-dilutive equity-based awards.

SEGMENT INFORMATION

SEGMENT INFORMATION	6 Months Ended
	Jun. 30, 2017
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: Three Months Ended Six Months Ended (In thousands) June 30, June 30, 2017 2016 2017 2016 Net sales Commercial/Industrial $ 291,856 $ 290,428 $ 570,912 $ 565,633 Defense 127,399 114,877 242,236 220,607 Power 149,970 129,123 280,565 252,869 Less: Intersegment revenues (1,572 ) (1,662 ) (2,469 ) (2,836 ) Total consolidated $ 567,653 $ 532,766 $ 1,091,244 $ 1,036,273 Operating income (expense) Commercial/Industrial $ 43,693 $ 38,957 $ 74,314 $ 69,009 Defense 21,187 18,609 32,342 35,454 Power 24,870 16,114 41,410 30,742 Corporate and eliminations (1) (6,479 ) (5,591 ) (13,568 ) (9,853 ) Total consolidated $ 83,271 $ 68,089 $ 134,498 $ 125,352 (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 are as follows: Three Months Ended Six Months Ended (In thousands) June 30, June 30, 2017 2016 2017 2016 Total operating income $ 83,271 $ 68,089 $ 134,498 $ 125,352 Interest expense 10,750 10,273 21,127 20,206 Other income, net 190 101 502 335 Earnings before income taxes $ 72,711 $ 57,917 $ 113,873 $ 105,481 (In thousands) June 30, 2017 December 31, 2016 Identifiable assets Commercial/Industrial $ 1,420,411 $ 1,391,040 Defense 1,013,636 751,859 Power 517,053 516,321 Corporate and Other 170,174 378,561 Total consolidated $ 3,121,274 $ 3,037,781

ACCUMULATED OTHER COMPREHENSIVE

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)	6 Months Ended
	Jun. 30, 2017
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 (AOCI), 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, 2015 $ (107,810 ) $ (118,118 ) $ (225,928 ) Other comprehensive income (loss) before reclassifications (1) (64,840 ) (7,892 ) (72,732 ) Amounts reclassified from accumulated other comprehensive loss (1) — 6,904 6,904 Net current period other comprehensive loss (64,840 ) (988 ) (65,828 ) December 31, 2016 $ (172,650 ) $ (119,106 ) $ (291,756 ) Other comprehensive income (loss) before reclassifications (1) 43,901 (507 ) 43,394 Amounts reclassified from accumulated other comprehensive income (loss) (1) — 4,201 4,201 Net current period other comprehensive income 43,901 3,694 47,595 June 30, 2017 $ (128,749 ) $ (115,412 ) $ (244,161 ) (1) All amounts are after tax. Details of amounts reclassified from accumulated other comprehensive income (loss) are below: (In thousands) Amount reclassified from AOCI Affected line item in the statement where net earnings is presented Defined benefit pension and other postretirement benefit plans Amortization of prior service costs 379 (1) Amortization of actuarial losses (7,064 ) (1) (6,685 ) Total before tax 2,484 Income tax Total reclassifications $ (4,201 ) Net of tax (1) These items are included in the computation of net periodic benefit cost. See Note 8 , Pension and Other Postretirement Benefit Plans .

CONTINGENCIES AND COMMITMENTS

CONTINGENCIES AND COMMITMENTS	6 Months Ended
	Jun. 30, 2017
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 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. Westinghouse Bankruptcy On March 29, 2017, Westinghouse Electric Company (“WEC”) filed for Chapter 11 bankruptcy protection in the United States Bankruptcy Court for the Southern District of New York, Case No. 17-10751. The Bankruptcy Court overseeing the Bankruptcy Case has approved, on an interim basis, an $800 million Debtor-in-Possession Financing Facility to help WEC finance its business operations during the reorganization process. The Corporation had approximately $6.5 million in pre-petition billings outstanding with WEC as of June 30, 2017. The Corporation will continue, for the time being and while it monitors and evaluates the Bankruptcy Case, to honor its executory contracts and expects to collect all post-petition amounts due. At this time, the Corporation has assessed that any pre-petition amounts will be substantially recoverable and does not believe that rejection of the outstanding contracts with WEC, taken in part or combined, would have a material adverse impact on the Company’s cash flow or operations. The Corporation continues to monitor the status of the WEC bankruptcy as well as the status of the plant construction projects for potential impacts on our business. 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. As of June 30, 2017 and December 31, 2016 , there were $48.8 million and $47.2 million of stand-by letters of credit outstanding, respectively, and $13.9 million and $12.8 million of bank guarantees outstanding, respectively. 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 The Electro-Mechanical Division, which is within the Corporation’s Power segment, 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 from Westinghouse 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 June 30, 2017 , the Corporation has not met certain contractual delivery dates under its AP 1000 China and US 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 June 30, 2017 . As of June 30, 2017 , the range of possible loss is $0 to $31 million for the AP1000 US contract, for a total range of possible loss of $0 to $55.5 million .

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	6 Months Ended
	Jun. 30, 2017
Subsequent Events [Abstract]
Subsequent Events [Text Block]	On July 20, 2017 , the Board of Directors unanimously authorized a $0.02 , or 15% , increase in the Corporation’s quarterly dividend to $0.15 per share. The increase will be reflected in the Corporation’s third quarter distribution, to be paid in October 2017.

BASIS OF PRESENTATION (Policies

BASIS OF PRESENTATION (Policies)	6 Months Ended
	Jun. 30, 2017
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. During the three and six months ended June 30, 2017 and 2016 , 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 2016 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 Standard Description Effect on the condensed consolidated financial statements ASU 2017-04 Simplifying the Test for Goodwill Impairment In January 2017, the FASB issued ASU 2017-04, Simplifying the Test for Goodwill Impairment, which simplifies the measurement of goodwill impairment testing by removing step two. This guidance was early adopted effective January 1, 2017 and will be applied prospectively. The adoption of this standard does not have a financial impact on the Condensed Consolidated Financial Statements. Date of adoption: January 1, 2017 ASU 2016-09 Improvements to Employee Share-Based Payment Accounting In March 2016, the FASB issued ASU 2016-09, Improvements to Employee Share-Based Payment Accounting, 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 and forfeitures. Excess tax benefits previously reported as cash flows from financing activities in the Condensed Consolidated Financial Statements are now required to be reported as operating activities. The Company adopted this guidance effective January 1, 2017. The Corporation recorded an income tax benefit of approximately $4 million within the provision for income taxes for the six months ended June 30, 2017 related to the excess tax benefit on stock options and performance share units. Prior to adoption, this amount would have been recorded as an increase to additional paid-in capital. The Corporation elected to account for forfeitures as they occur, which did not have a material impact on its Condensed Consolidated Financial Statements. Date of adoption: January 1, 2017 Recent accounting pronouncements to be adopted Standard Description Effect on the condensed consolidated 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 plans to apply the modified retrospective approach upon adoption and is currently evaluating the impact of adoption on its Condensed Consolidated Financial Statements as of January 1, 2018. We have performed a preliminary review of our customer contracts; however, our assessment is still ongoing and not yet complete. It is expected that the disclosures in our Notes to the Condensed Consolidated Financial Statements related to revenue recognition will be expanded under the new standard. The Corporation will continue to monitor interpretative guidance issued by the FASB which may cause our evaluation to change. 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 guidance requires the use of a modified retrospective approach. The Corporation is currently evaluating the impact of the adoption of this standard on its Condensed Consolidated Financial Statements. Date of adoption: January 1, 2019 ASU 2017-01 Clarifying the Definition of a Business In January 2017, the FASB issued ASU 2017-01, which clarifies the definition of a business to assist entities with evaluating whether transactions should be accounted for as acquisitions or disposals of assets or businesses. The standard introduces a screen for determining when assets acquired are not a business and clarifies that a business must include, at a minimum, an input and a substantive process that contribute to an output. The standard is effective for fiscal years beginning after December 15, 2017, and interim periods within those fiscal years. The Corporation is currently evaluating the impact of the adoption of this standard on its Condensed Consolidated Financial Statements. Date of adoption: January 1, 2018 ASU 2017-07 Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost In March 2017, the FASB issued final guidance that will change how the net periodic benefit cost for defined benefit pension and other postretirement benefit plans are presented in the income statement and the respective capitalization of assets on the balance sheet. The guidance requires the use of a retrospective approach for the presentation of the income statement and a prospective approach for the presentation of the balance sheet. The Corporation is currently evaluating the impact of the adoption of this standard on its Condensed Consolidated Financial Statements. Date of adoption: January 1, 2018

BASIS OF PRESENTATION Tables (T

BASIS OF PRESENTATION Tables (Tables)	6 Months Ended
	Jun. 30, 2017
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Schedule of New Accounting Pronouncements and Changes in Accounting Principles [Table Text Block]	Recent accounting pronouncements adopted Standard Description Effect on the condensed consolidated financial statements ASU 2017-04 Simplifying the Test for Goodwill Impairment In January 2017, the FASB issued ASU 2017-04, Simplifying the Test for Goodwill Impairment, which simplifies the measurement of goodwill impairment testing by removing step two. This guidance was early adopted effective January 1, 2017 and will be applied prospectively. The adoption of this standard does not have a financial impact on the Condensed Consolidated Financial Statements. Date of adoption: January 1, 2017 ASU 2016-09 Improvements to Employee Share-Based Payment Accounting In March 2016, the FASB issued ASU 2016-09, Improvements to Employee Share-Based Payment Accounting, 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 and forfeitures. Excess tax benefits previously reported as cash flows from financing activities in the Condensed Consolidated Financial Statements are now required to be reported as operating activities. The Company adopted this guidance effective January 1, 2017. The Corporation recorded an income tax benefit of approximately $4 million within the provision for income taxes for the six months ended June 30, 2017 related to the excess tax benefit on stock options and performance share units. Prior to adoption, this amount would have been recorded as an increase to additional paid-in capital. The Corporation elected to account for forfeitures as they occur, which did not have a material impact on its Condensed Consolidated Financial Statements. Date of adoption: January 1, 2017

ACQUISITIONS (Tables)

ACQUISITIONS (Tables)	6 Months Ended
	Jun. 30, 2017
Business Combinations [Abstract]
Schedule of Business Acquisitions, by Acquisition [Table Text Block]	(In thousands) 2017 2016 Accounts receivable $ 5,020 $ — Inventory 22,702 — Property, plant, and equipment 4,598 — Other current and non-current assets 2,815 — Intangible assets 88,900 — Current and non-current liabilities (7,163 ) — Due to seller, net (509 ) — Net tangible and intangible assets 116,363 — Purchase price, net of cash acquired 232,630 — Goodwill $ 116,267 $ — Goodwill deductible for tax purposes $ 116,267 $ —

RECEIVABLES (Table)

RECEIVABLES (Table)	6 Months Ended
	Jun. 30, 2017
Receivables [Abstract]
Schedule Of Accounts Notes Loans And Financing Receivable	The composition of receivables is as follows: (In thousands) June 30, 2017 December 31, 2016 Billed receivables: Trade and other receivables $ 374,691 $ 340,091 Less: Allowance for doubtful accounts (7,219 ) (4,832 ) Net billed receivables 367,472 335,259 Unbilled receivables: Recoverable costs and estimated earnings not billed 158,006 149,847 Less: Progress payments applied (23,262 ) (22,044 ) Net unbilled receivables 134,744 127,803 Receivables, net $ 502,216 $ 463,062

INVENTORIES (Table)

INVENTORIES (Table)	6 Months Ended
	Jun. 30, 2017
Inventory, Net [Abstract]
Schedule Of Inventory	(In thousands) June 30, 2017 December 31, 2016 Raw materials $ 195,461 $ 189,228 Work-in-process 85,321 73,843 Finished goods 123,362 112,478 Inventoried costs related to U.S. Government and other long-term contracts 60,008 57,516 Gross inventories 464,152 433,065 Less: Inventory reserves (58,108 ) (54,988 ) Progress payments applied, principally related to long-term contracts (9,799 ) (11,103 ) Inventories, net $ 396,245 $ 366,974

GOODWILL (Table)

GOODWILL (Table)	6 Months Ended
	Jun. 30, 2017
Goodwill [Abstract]
Schedule Of Goodwill	The changes in the carrying amount of goodwill for the six months ended June 30, 2017 are as follows: (In thousands) Commercial/Industrial Defense Power Consolidated December 31, 2016 $ 436,141 $ 327,655 $ 187,261 $ 951,057 Acquisitions 2,420 113,847 — 116,267 Foreign currency translation adjustment 6,468 9,044 108 15,620 June 30, 2017 $ 445,029 $ 450,546 $ 187,369 $ 1,082,944

OTHER INTANGIBLE ASSETS, NET (T

OTHER INTANGIBLE ASSETS, NET (Table)	6 Months Ended
	Jun. 30, 2017
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: June 30, 2017 December 31, 2016 (In thousands) Gross Accumulated Amortization Net Gross Accumulated Amortization Net Technology $ 240,858 $ (105,400 ) $ 135,458 $ 166,859 $ (98,266 ) $ 68,593 Customer related intangibles 363,500 (168,351 ) 195,149 349,742 (157,154 ) 192,588 Other intangible assets 40,250 (24,866 ) 15,384 36,709 (26,429 ) 10,280 Total $ 644,608 $ (298,617 ) $ 345,991 $ 553,310 $ (281,849 ) $ 271,461

FAIR VALUE OF FINANCIAL INSTR29

FAIR VALUE OF FINANCIAL INSTRUMENTS (Table)	6 Months Ended
	Jun. 30, 2017
Fair Value Disclosures [Abstract]
Schedule of Other Derivatives Not Designated as Hedging Instruments, Statements of Financial Performance and Financial Position, Location [Table Text Block]	Undesignated hedges The location and amount of losses or (gains) recognized in income on forward exchange derivative contracts not designated for hedge accounting for the three and six months ended June 30, were as follows: Three Months Ended Six Months Ended (In thousands) June 30, June 30, Derivatives not designated as hedging instrument 2017 2016 2017 2016 Forward exchange contracts: General and administrative expenses $ (93 ) $ 4,452 $ 614 $ 5,036
Schedule of Carrying Values and Estimated Fair Values of Debt Instruments [Table Text Block]	June 30, 2017 December 31, 2016 (In thousands) Carrying Value Estimated Fair Value Carrying Value Estimated Fair Value 5.51% Senior notes due 2017 150,000 152,161 150,000 154,509 3.84% Senior notes due 2021 100,000 104,107 100,000 102,463 3.70% Senior notes due 2023 225,000 232,173 225,000 226,946 3.85% Senior notes due 2025 100,000 103,389 100,000 100,338 4.24% Senior notes due 2026 200,000 211,038 200,000 203,592 4.05% Senior notes due 2028 75,000 77,685 75,000 74,630 4.11% Senior notes due 2028 100,000 104,158 100,000 99,876 Other debt 820 820 668 668 Total debt 950,820 985,531 950,668 963,022 Debt issuance costs, net (907 ) (907 ) (984 ) (984 ) Unamortized interest rate swap proceeds 15,717 15,717 16,614 16,614 Total debt, net $ 965,630 $ 1,000,341 $ 966,298 $ 978,652

PENSION AND OTHER POSTRETIREM30

PENSION AND OTHER POSTRETIREMENT BENEFIT PLANS (Table)	6 Months Ended
	Jun. 30, 2017
Pension Plans Defined Benefit [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Schedule Of Defined Benefit Plans Disclosures	The components of net periodic pension cost for the three and six months ended June 30, 2017 and 2016 were as follows: Three Months Ended Six Months Ended (In thousands) June 30, June 30, 2017 2016 2017 2016 Service cost $ 6,474 $ 6,248 $ 12,945 $ 12,485 Interest cost 6,236 7,709 12,455 15,412 Expected return on plan assets (13,310 ) (13,590 ) (26,595 ) (27,171 ) Amortization of prior service cost (26 ) (11 ) (51 ) (23 ) Amortization of unrecognized actuarial loss 3,585 3,093 7,166 6,186 Net periodic benefit cost $ 2,959 $ 3,449 $ 5,920 $ 6,889

EARNINGS PER SHARE (Table)

EARNINGS PER SHARE (Table)	6 Months Ended
	Jun. 30, 2017
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: Three Months Ended Six Months Ended (In thousands) June 30, June 30, 2017 2016 2017 2016 Basic weighted-average shares outstanding 44,213 44,487 44,221 44,526 Dilutive effect of stock options and deferred stock compensation 594 677 604 669 Diluted weighted-average shares outstanding 44,807 45,164 44,825 45,195

SEGMENT INFORMATION (Table)

SEGMENT INFORMATION (Table)	6 Months Ended
	Jun. 30, 2017
Segment Reporting [Abstract]
Schedule Of Segment Reporting Information By Segment	Three Months Ended Six Months Ended (In thousands) June 30, June 30, 2017 2016 2017 2016 Net sales Commercial/Industrial $ 291,856 $ 290,428 $ 570,912 $ 565,633 Defense 127,399 114,877 242,236 220,607 Power 149,970 129,123 280,565 252,869 Less: Intersegment revenues (1,572 ) (1,662 ) (2,469 ) (2,836 ) Total consolidated $ 567,653 $ 532,766 $ 1,091,244 $ 1,036,273 Operating income (expense) Commercial/Industrial $ 43,693 $ 38,957 $ 74,314 $ 69,009 Defense 21,187 18,609 32,342 35,454 Power 24,870 16,114 41,410 30,742 Corporate and eliminations (1) (6,479 ) (5,591 ) (13,568 ) (9,853 ) Total consolidated $ 83,271 $ 68,089 $ 134,498 $ 125,352 (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	Three Months Ended Six Months Ended (In thousands) June 30, June 30, 2017 2016 2017 2016 Total operating income $ 83,271 $ 68,089 $ 134,498 $ 125,352 Interest expense 10,750 10,273 21,127 20,206 Other income, net 190 101 502 335 Earnings before income taxes $ 72,711 $ 57,917 $ 113,873 $ 105,481
Reconciliation Of Assets From Segment To Consolidated	(In thousands) June 30, 2017 December 31, 2016 Identifiable assets Commercial/Industrial $ 1,420,411 $ 1,391,040 Defense 1,013,636 751,859 Power 517,053 516,321 Corporate and Other 170,174 378,561 Total consolidated $ 3,121,274 $ 3,037,781

ACCUMULATED OTHER COMPREHENSI33

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) (Table)	6 Months Ended
	Jun. 30, 2017
Stockholders' Equity Note [Abstract]
Schedule of Comprehensive Income (Loss)	The cumulative balance of each component of accumulated other comprehensive income (AOCI), 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, 2015 $ (107,810 ) $ (118,118 ) $ (225,928 ) Other comprehensive income (loss) before reclassifications (1) (64,840 ) (7,892 ) (72,732 ) Amounts reclassified from accumulated other comprehensive loss (1) — 6,904 6,904 Net current period other comprehensive loss (64,840 ) (988 ) (65,828 ) December 31, 2016 $ (172,650 ) $ (119,106 ) $ (291,756 ) Other comprehensive income (loss) before reclassifications (1) 43,901 (507 ) 43,394 Amounts reclassified from accumulated other comprehensive income (loss) (1) — 4,201 4,201 Net current period other comprehensive income 43,901 3,694 47,595 June 30, 2017 $ (128,749 ) $ (115,412 ) $ (244,161 ) (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 AOCI Affected line item in the statement where net earnings is presented Defined benefit pension and other postretirement benefit plans Amortization of prior service costs 379 (1) Amortization of actuarial losses (7,064 ) (1) (6,685 ) Total before tax 2,484 Income tax Total reclassifications $ (4,201 ) Net of tax (1) These items are included in the computation of net periodic benefit cost. See Note 8 , Pension and Other Postretirement Benefit Plans .

Reclassifications for Accountin

Reclassifications for Accounting Pronouncements (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Income Tax Expense (Benefit)	$ 22,061	$ 17,954	$ 30,676	$ 32,699
Accounting Standards Update 2016-09 [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Income Tax Expense (Benefit)	$ 0		$ 4,057

ACQUISITIONS (Details)

ACQUISITIONS (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2017	Dec. 31, 2016
Business Acquisition [Line Items]
Goodwill	$ 1,082,944	$ 951,057
2017 acquisitions [Member]
Business Acquisition [Line Items]
Accounts Receivable	5,020
Inventory	22,702
Property, Plant, and Equipment	4,598
Other Current and Non-current Assets	2,815
Intangible Assets, Other than Goodwill	88,900
Current and Non-current Liabilities	7,163
Due from Seller, Net	(509)
Net Tangible and Intangible Assets	116,363
Purchase Price, Net of Cash Acquired	232,630
Goodwill	116,267
Goodwill, Expected Tax Deductible Amount	$ 116,267

ACQUISITIONS Narrative (Details

ACQUISITIONS Narrative (Details) $ in Thousands	Feb. 08, 2017	Jan. 03, 2017	Jun. 30, 2017USD ($)NumberAcquisitions	Jun. 30, 2016USD ($)
Business Acquisition [Line Items]
Number of Businesses Acquired | NumberAcquisitions			2
Payments to Acquire Businesses, Gross			$ 232,630	$ 295
Revenue of Acquiree since Acquisition Date, Actual			25,000
Earnings or Loss of Acquiree since Acquisition Date, Actual			(4,000)
2017 acquisitions [Member]
Business Acquisition [Line Items]
Purchase Price, Net of Cash Acquired			232,630
Defense [Member] | Teletronics Technology Corporation (TTC) [Member]
Business Acquisition [Line Items]
Effective Date of Acquisition		Jan. 3, 2017
Purchase Price, Net of Cash Acquired			226,015
Revenue Reported by Acquired Entity for Last Annual Period			64,000
Commercial Industrial [Member] | Para Tech Coating, Inc (Para Tech) [Member]
Business Acquisition [Line Items]
Effective Date of Acquisition	Feb. 8, 2017
Payments to Acquire Businesses, Gross			$ 6,615

RECEIVABLES (Detail)

RECEIVABLES (Detail) - USD ($) $ in Thousands	Jun. 30, 2017	Dec. 31, 2016
Billed receivables:
Trade and other receivables	$ 374,691	$ 340,091
Less: Allowance for doubtful accounts	(7,219)	(4,832)
Net billed receivables	367,472	335,259
Unbilled receivables:
Recoverable costs and estimated earnings not billed	158,006	149,847
Less: Progress payments applied	(23,262)	(22,044)
Net unbilled receivables	134,744	127,803
Receivables, net	$ 502,216	$ 463,062

INVENTORIES (Detail)

INVENTORIES (Detail) - USD ($) $ in Thousands	Jun. 30, 2017	Dec. 31, 2016
Inventory, Net [Abstract]
Raw material	$ 195,461	$ 189,228
Work-in-process	85,321	73,843
Finished goods and component parts	123,362	112,478
Inventoried costs related to U.S. Government and other long-term contracts	60,008	57,516
Gross inventories	464,152	433,065
Less: Inventory reserves	58,108	54,988
Progress payments applied, principally related to long-term contracts	(9,799)	(11,103)
Inventories, net	$ 396,245	$ 366,974

INVENTORIES (Narrative) (Detail

INVENTORIES (Narrative) (Detail) - USD ($) $ in Millions	Jun. 30, 2017	Dec. 31, 2016
Inventory, Net [Abstract]
Other inventory, capitalized costs	$ 29.9	$ 28.8
Other inventory, capitalized costs to be liquidated under firm orders	$ 4.6	$ 3.9

GOODWILL (Detail)

GOODWILL (Detail) $ in Thousands	6 Months Ended
	Jun. 30, 2017USD ($)
Goodwill [Roll Forward]
December 31, 2016	$ 951,057
Goodwill, Acquired During Period	116,267
Foreign currency translation adjustment	15,620
June 30, 2017	1,082,944
Commercial Industrial [Member]
Goodwill [Roll Forward]
December 31, 2016	436,141
Goodwill, Acquired During Period	2,420
Foreign currency translation adjustment	6,468
June 30, 2017	445,029
Defense [Member]
Goodwill [Roll Forward]
December 31, 2016	327,655
Goodwill, Acquired During Period	113,847
Foreign currency translation adjustment	9,044
June 30, 2017	450,546
Power [Member]
Goodwill [Roll Forward]
December 31, 2016	187,261
Foreign currency translation adjustment	108
June 30, 2017	$ 187,369

OTHER INTANGIBLE ASSETS, NET (D

OTHER INTANGIBLE ASSETS, NET (Detail) - USD ($) $ in Thousands	Jun. 30, 2017	Dec. 31, 2016
Finite Lived Intangible Assets [Line Items]
Gross	$ 644,608	$ 553,310
Accumulated Amortization	(298,617)	(281,849)
Net	345,991	271,461
Technology [Member]
Finite Lived Intangible Assets [Line Items]
Gross	240,858	166,859
Accumulated Amortization	(105,400)	(98,266)
Net	135,458	68,593
Customer Relationships [Member]
Finite Lived Intangible Assets [Line Items]
Gross	363,500	349,742
Accumulated Amortization	(168,351)	(157,154)
Net	195,149	192,588
Other Intangible Assets [Member]
Finite Lived Intangible Assets [Line Items]
Gross	40,250	36,709
Accumulated Amortization	(24,866)	(26,429)
Net	$ 15,384	$ 10,280

OTHER INTANGIBLE ASSETS, NET (N

OTHER INTANGIBLE ASSETS, NET (Narrative) (Detail) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016
Finite Lived Intangible Assets [Line Items]
Finite-lived Intangible Assets Acquired	$ 88.9
Amortization expense	19.1	$ 16.8
Future amortization expense in remainder of fiscal year	38.7
Future amortization expense in year two	37.7
Future amortization expense in year three	36
Future amortization expense in year four	34.1
Future amortization expense in year five	32.3
Technology [Member]
Finite Lived Intangible Assets [Line Items]
Finite-lived Intangible Assets Acquired	$ 73
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life	15 years
Customer Relationships [Member]
Finite Lived Intangible Assets [Line Items]
Finite-lived Intangible Assets Acquired	$ 12.9
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life	16 years 3 months 18 days
Other Intangible Assets [Member]
Finite Lived Intangible Assets [Line Items]
Finite-lived Intangible Assets Acquired	$ 3
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life	7 years

FAIR VALUE OF FINANCIAL INSTR43

FAIR VALUE OF FINANCIAL INSTRUMENTS (Income Loss) (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
General And Administrative Expense [Member]
Derivative Instruments Gain Loss [Line Items]
General and administrative expenses	$ (93)	$ 4,452	$ 614	$ 5,036

FAIR VALUE OF FINANCIAL INSTR44

FAIR VALUE OF FINANCIAL INSTRUMENTS (Debt) (Detail) - USD ($) $ in Thousands	Jun. 30, 2017	Dec. 31, 2016
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Carrying Value	$ 965,630	$ 966,298
Estimated Fair Value	1,000,341	978,652
Long-term Debt, Gross	950,820	950,668
Debt Issuance Costs, Net	(907)	(984)
Deferred Gain (Loss) on Discontinuation of Interest Rate Fair Value Hedge	15,717	16,614
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	$ 152,161	154,509
Debt Instrument, Interest Rate, Stated Percentage	5.51%
3.84% Senior notes due 2021 [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Carrying Value	$ 100,000	100,000
Estimated Fair Value	$ 104,107	102,463
Debt Instrument, Interest Rate, Stated Percentage	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	$ 232,173	226,946
Debt Instrument, Interest Rate, Stated Percentage	3.70%
3.85% Senior notes due 2025 [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Carrying Value	$ 100,000	100,000
Estimated Fair Value	$ 103,389	100,338
Debt Instrument, Interest Rate, Stated Percentage	3.85%
4.24% Senior notes due 2026 [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Carrying Value	$ 200,000	200,000
Estimated Fair Value	$ 211,038	203,592
Debt Instrument, Interest Rate, Stated Percentage	4.24%
4.05% Senior notes due 2028 [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Carrying Value	$ 75,000	75,000
Estimated Fair Value	$ 77,685	74,630
Debt Instrument, Interest Rate, Stated Percentage	4.05%
4.11% Senior Notes [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Carrying Value	$ 100,000	100,000
Estimated Fair Value	$ 104,158	99,876
Debt Instrument, Interest Rate, Stated Percentage	4.11%
Other debt [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Carrying Value	$ 820	668
Estimated Fair Value	820	668
Long-term Debt, gross [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Estimated Fair Value	$ 985,531	$ 963,022

PENSION AND OTHER POSTRETIREM45

PENSION AND OTHER POSTRETIREMENT BENEFIT PLANS (Detail) - Pension Plans Defined Benefit [Member] - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Defined Benefit Plan Disclosure [Line Items]
Service cost	$ 6,474	$ 6,248	$ 12,945	$ 12,485
Interest cost	6,236	7,709	12,455	15,412
Expected return on plan assets	(13,310)	(13,590)	(26,595)	(27,171)
Amortization of prior service cost	(26)	(11)	(51)	(23)
Amortization of unrecognized actuarial loss	3,585	3,093	7,166	6,186
Net postretirement benefit cost (income)	$ 2,959	$ 3,449	$ 5,920	$ 6,889

PENSION AND OTHER POSTRETIREM46

PENSION AND OTHER POSTRETIREMENT BENEFIT PLANS (Additional) (Detail) - USD ($) $ in Millions	6 Months Ended		12 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Dec. 31, 2017
Defined Benefit Plan Disclosure [Line Items]
Defined Contribution Plan, Employer Matching Contribution, Percent of Employees' Gross Pay	6.00%
Defined Contribution Plan, Cost	$ 6.8	$ 6
Defined Contribution Plan, Employer Discretionary Contribution Amount	$ 9.4
Scenario, Forecast [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Contribution Plan, Employer Discretionary Contribution Amount			$ 11.8

EARNINGS PER SHARE (Detail)

EARNINGS PER SHARE (Detail) - shares shares in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Earnings Per Share Reconciliation [Abstract]
Basic weighted-average shares outstanding (shares)	44,213	44,487	44,221	44,526
Dilutive effect of stock options and deferred stock compensation (shares)	594	677	604	669
Diluted weighted-average shares outstanding (shares)	44,807	45,164	44,825	45,195

EARNINGS PER SHARE EARNINGS PER

EARNINGS PER SHARE EARNINGS PER SHARE (Anti-dilutive) (Details) shares in Thousands	3 Months Ended
	Jun. 30, 2017shares
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	38

SEGMENT INFORMATION (Detail)

SEGMENT INFORMATION (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016	Dec. 31, 2016
Segment Reporting Information [Line Items]
Net sales	$ 567,653	$ 532,766	$ 1,091,244	$ 1,036,273
Operating income (expense)	83,271	68,089	134,498	125,352
Identifiable assets	3,121,274		3,121,274		$ 3,037,781
Commercial Industrial [Member]
Segment Reporting Information [Line Items]
Net sales	291,856	290,428	570,912	565,633
Operating income (expense)	43,693	38,957	74,314	69,009
Identifiable assets	1,420,411		1,420,411		1,391,040
Defense [Member]
Segment Reporting Information [Line Items]
Net sales	127,399	114,877	242,236	220,607
Operating income (expense)	21,187	18,609	32,342	35,454
Identifiable assets	1,013,636		1,013,636		751,859
Power [Member]
Segment Reporting Information [Line Items]
Net sales	149,970	129,123	280,565	252,869
Operating income (expense)	24,870	16,114	41,410	30,742
Identifiable assets	517,053		517,053		516,321
Corporate, Non-Segment [Member]
Segment Reporting Information [Line Items]
Operating income (expense)	(6,479)	(5,591)	(13,568)	(9,853)
Identifiable assets	170,174		170,174		$ 378,561
Intersegment Eliminations [Member]
Segment Reporting Information [Line Items]
Net sales	$ (1,572)	$ (1,662)	$ (2,469)	$ (2,836)

SEGMENT INFORMATION (Reconcilia

SEGMENT INFORMATION (Reconciliation) (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Segment Reporting [Abstract]
Total operating income	$ 83,271	$ 68,089	$ 134,498	$ 125,352
Interest expense	(10,750)	(10,273)	(21,127)	(20,206)
Other income, net	190	101	502	335
Earnings before income taxes	$ 72,711	$ 57,917	$ 113,873	$ 105,481

ACCUMULATED OTHER COMPREHENSI51

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016	Dec. 31, 2016
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance			$ (291,756)	$ (225,928)	$ (225,928)
Other comprehensive income (loss) before reclassifications			43,394		(72,732)
Amounts reclassified from accumulated other comprehensive loss			4,201		6,904
Other comprehensive income (loss), net of tax	$ 34,420	$ (30,126)	47,595	(11,409)	(65,828)
Ending balance	(244,161)		(244,161)		(291,756)
Foreign Currency Translation Adjustments, Net [Member]
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance			(172,650)	(107,810)	(107,810)
Other comprehensive income (loss) before reclassifications			43,901		(64,840)
Amounts reclassified from accumulated other comprehensive loss			0		0
Other comprehensive income (loss), net of tax			43,901		(64,840)
Ending balance	(128,749)		(128,749)		(172,650)
Total Pension and Postretirment Adjustments, Net [Member]
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance			(119,106)	$ (118,118)	(118,118)
Other comprehensive income (loss) before reclassifications			(507)		(7,892)
Amounts reclassified from accumulated other comprehensive loss			4,201		6,904
Other comprehensive income (loss), net of tax			3,694		(988)
Ending balance	$ (115,412)		$ (115,412)		$ (119,106)

ACCUMULATED OTHER COMPREHENSI52

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) (Reclass) (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Accumulated Other Comprehensive Income (Loss) [Line Items]
Earnings from continuing operations before income taxes	$ 72,711	$ 57,917	$ 113,873	$ 105,481
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			379
Amortization of actuarial losses			(7,064)
Earnings from continuing operations before income taxes			(6,685)
Income tax			2,484
Net earnings			$ (4,201)

CONTINGENCIES AND COMMITMENTS (

CONTINGENCIES AND COMMITMENTS (Detail) - USD ($)	Oct. 10, 2013	Jun. 30, 2017	Mar. 29, 2017	Dec. 31, 2016
Standby Letters Of Credit [Member]
Loss Contingencies [Line Items]
Letters of credit, outstanding		$ 48,800,000		$ 47,200,000
FinancialStandbyLetterOfCreditMember
Loss Contingencies [Line Items]
Letters of credit, outstanding		13,900,000		$ 12,800,000
Failure to Meet Contractual Obligations [Member]
Loss Contingencies [Line Items]
Damages sought	$ 25,000,000
Surety Bond [Member]
Loss Contingencies [Line Items]
Surety Bond Outstanding		56,000,000
Damage from Fire, Explosion or Other Hazard [Member]
Loss Contingencies [Line Items]
Estimated Litigation Liability		1,000,000,000
Minimum [Member]
Loss Contingencies [Line Items]
Range of possible loss		0
Maximum [Member]
Loss Contingencies [Line Items]
Range of possible loss		56,000,000
Westinghouse Electric Company (WEC) [Member] | Pending Litigation [Member]
Loss Contingencies [Line Items]
Debtor-in-Possession Financing, Amount Arranged			$ 800,000,000
AP1000 US [Member] | Minimum [Member]
Loss Contingencies [Line Items]
Range of possible loss		0
AP1000 US [Member] | Maximum [Member]
Loss Contingencies [Line Items]
Range of possible loss		$ 31,000,000
Westinghouse Electric Company (WEC) [Member] | Collectibility of Receivables [Member]
Loss Contingencies [Line Items]
Range of possible loss			$ 6,500,000

SUBSEQUENT EVENTS (Details)

SUBSEQUENT EVENTS (Details) - Scenario, Forecast [Member] - $ / shares	Jul. 20, 2017	Sep. 30, 2017
Subsequent Event [Line Items]
Increase (Decrease) In Dividends Payable, per share	$ 0.02
Increase (Decrease) In Dividends Payable, percentage	15.00%
Dividends Payable, Amount Per Share		$ 0.15