Curtiss-Wright (CW) 10-Q 26 Jul 18 2018 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information	6 Months Ended
	Jun. 30, 2018shares
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, 2018
Document Fiscal Year Focus	2,018
Document Fiscal Period Focus	Q2
Amendment Flag	false
Entity common stock shares outstanding	43,981,463
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, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Net sales
Product sales	$ 511,676	$ 459,774	$ 956,363	$ 883,003
Service sales	108,622	107,879	211,457	208,241
Total net sales	620,298	567,653	1,167,820	1,091,244
Cost of sales
Cost of product sales	324,184	302,794	623,495	592,404
Cost of service sales	69,614	69,849	136,634	136,895
Total cost of sales	393,798	372,643	760,129	729,299
Gross profit	226,500	195,010	407,691	361,945
Research and development expenses	15,054	15,788	30,995	31,379
Selling expenses	32,665	29,055	64,185	58,513
General and administrative expenses	76,705	70,435	145,937	144,629
Operating income	102,076	79,732	166,574	127,424
Interest expense	(9,566)	(10,750)	(17,770)	(21,127)
Other income, net	3,971	3,729	8,654	7,576
Earnings from continuing operations before income taxes	96,481	72,711	157,458	113,873
Provision for income taxes	(21,693)	(22,061)	(39,027)	(30,676)
Net earnings	$ 74,788	$ 50,650	$ 118,431	$ 83,197
Basic earnings per share
Basic earnings per share (usd per share)	$ 1.69	$ 1.15	$ 2.68	$ 1.88
Diluted earnings per share
Diluted earnings per share (usd per share)	1.68	1.13	2.66	1.86
Dividends per share	$ 0.15	$ 0.13	$ 0.3	$ 0.26
Weighted average shares outstanding:
Basic (shares)	44,124	44,213	44,144	44,221
Diluted (shares)	44,553	44,807	44,604	44,825

CONDENSED CONSOLIDATED STATEME3

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (Unaudited) - USD ($) $ in Thousands		3 Months Ended		6 Months Ended
		Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Statement of Comprehensive Income [Abstract]
Net earnings		$ 74,788	$ 50,650	$ 118,431	$ 83,197
Other comprehensive income
Foreign currency translation, net of tax	[1]	(43,771)	32,677	(28,360)	43,901
Pension and postretirement adjustments, net of tax	[2]	3,062	1,743	5,684	3,694
Other comprehensive income (loss), net of tax		(40,709)	34,420	(22,676)	47,595
Comprehensive income		$ 34,079	$ 85,070	$ 95,755	$ 130,792
[1]	The tax benefit included in other comprehensive loss for foreign currency translation adjustments for the three and six months ended June 30, 2018 was $2.0 million and $1.2 million, respectively. The tax expense included in other comprehensive income for foreign currency translation adjustments for the three and six months ended June 30, 2017 was $1.1 million and $1.2 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, 2018 was $0.9 million and $1.8 million, respectively. The tax expense included in other comprehensive income for pension and postretirement adjustments for the three and six months ended June 30, 2017 was $1.2 million and $2.5 million, respectively.

CONDENSED CONSOLIDATED STATEME4

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Parentheticals) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Statement of Comprehensive Income [Abstract]
Other Comprehensive Income (Loss), Foreign Currency Translation Adjustment, Tax	$ (2)	$ 1.1	$ (1.2)	$ 1.2
Other Comprehensive (Income) Loss, Defined Benefit Plan, after Reclassification Adjustment, Tax, Attributable to Parent	$ 0.9	$ 1.2	$ 1.8	$ 2.5

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 30, 2018	Dec. 31, 2017
Current Assets:
Cash and cash equivalents	$ 218,898	$ 475,120
Receivables, net	575,142	494,923
Inventories, net	436,250	378,866
Other current assets	53,953	52,951
Total current assets	1,284,243	1,401,860
Property, plant, and equipment, net	374,995	390,235
Goodwill	1,103,562	1,096,329
Other intangible assets, net	449,096	329,668
Other assets	18,292	18,229
Total assets	3,230,188	3,236,321
Current liabilities:
Current portion of long-term debt and short-term debt	959	150
Accounts payable	179,566	185,176
Accrued expenses	131,263	150,406
Income taxes payable	4,957	4,564
Deferred revenue	231,187	214,891
Other current liabilities	47,752	35,810
Total current liabilities	595,684	590,997
Long-term debt	813,150	813,989
Deferred tax liabilities, net	56,143	49,360
Accrued pension and other postretirement benefit costs	65,698	121,043
Long-term portion of environmental reserves	14,757	14,546
Other liabilities	108,660	118,586
Total liabilities	1,654,092	1,708,521
Stockholders' Equity
Common stock, $1 par value,100,000,000 shares authorized as of June 30, 2018 and December 31, 2017; 49,187,378 shares issued as of June 30, 2018 and December 31, 2017; outstanding shares were 43,981,463 as of June 30, 2018 and 44,123,519 as of December 31, 2017	49,187	49,187
Additional paid in capital	119,025	120,609
Retained earnings	2,047,250	1,944,324
Accumulated other comprehensive loss	(239,516)	(216,840)
Common treasury stock, at cost (5,205,915 shares as of June 30, 2018 and 5,063,859 shares as of December 31, 2017)	(399,850)	(369,480)
Total stockholders' equity	1,576,096	1,527,800
Total liabilities and stockholders' equity	$ 3,230,188	$ 3,236,321

CONDENSED CONSOLIDATED BALANCE6

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Jun. 30, 2018	Dec. 31, 2017
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	43,981,463	44,123,519
Treasury Stock, Shares	5,205,915	5,063,859

CONDENSED CONSOLIDATED STATEME7

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017
Cash flows from operating activities:
Net earnings	$ 118,431	$ 83,197
Adjustments to reconcile net earnings to net cash provided by operating activities
Depreciation and amortization	51,257	49,961
Gain (Loss) on Disposition of Business	(2,149)
Gain on fixed asset disposals	(897)	(197)
Deferred income taxes	5,554	(1,750)
Share-based compensation	7,801	6,016
Change in operating assets and liabilities, net of businesses acquired and divested:
Accounts receivable, net	(57,522)	(27,246)
Inventories, net	(43,625)	534
Progress payments	6,718	(1,316)
Accounts payable and accrued expenses	(38,621)	(48,229)
Deferred revenue	17,865	11,171
Income taxes payable	(7,712)	(13,217)
Net pension and postretirement liabilities	(48,265)	1,041
Other current and long-term assets and liabilities	17,850	967
Net cash provided by operating activities	26,685	60,932
Cash flows from investing activities:
Proceeds from sales and disposals of long lived assets	4,328	349
Proceeds from Divestiture of Businesses	(268)
Payments to Acquire Intangible Assets	(1,500)
Additions to property, plant, and equipment	(19,852)	(23,288)
Acquisition of businesses, net of cash acquired	(212,737)	(232,630)
Payments for (Proceeds from) Previous Acquisition	(460)
Net cash used for investing activities	(230,489)	(255,569)
Cash flows from financing activities:
Borrowings under revolving credit facility	367,762	2,736
Payment of revolving credit facility	(366,953)	(2,584)
Repurchases of common stock	(46,115)	(26,454)
Proceeds from share-based compensation	6,360	5,374
Dividends paid	(6,623)	(5,757)
Proceeds from (Payments for) Other Financing Activities	(365)	(336)
Net cash used for financing activities	(45,934)	(27,021)
Effect of exchange-rate changes on cash	(6,484)	10,521
Net decrease in cash and cash equivalents	(256,222)	(211,137)
Cash and cash equivalents at beginning of period	475,120	553,848
Cash and cash equivalents at end of period	218,898	342,711
Supplemental disclosure of non-cash activities:
Capital expenditures incurred but not yet paid	$ 425	$ 1,641

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, 2016		$ 49,187	$ 129,483	$ 1,754,907	$ (291,756)	$ (350,630)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net earnings				214,891
Other comprehensive loss, net of tax	$ 74,916				74,916
Dividends paid/declared				(24,740)
Restricted stock			(12,104)			12,105
Stock options exercised			(5,724)			19,902
Other			(2,237)	(734)		889
Share-based compensation			11,191			381
Repurchases of common stock						(52,127)
Ending Balance at Dec. 31, 2017	1,527,800	49,187	120,609	1,944,324	(216,840)	(369,480)
Cumulative Effect of New Accounting Principle in Period of Adoption | Accounting Standards Update 2014-09 [Member]				(2,274)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net earnings	118,431			118,431
Net earnings | Accounting Standards Update 2014-09 [Member]	(2,798)
Other comprehensive loss, net of tax	(22,676)				(22,676)
Dividends paid/declared				(13,231)
Restricted stock			(6,923)			6,923
Stock options exercised			(1,535)			7,896
Other			(725)			725
Share-based compensation			7,599			201
Repurchases of common stock						(46,115)
Ending Balance at Jun. 30, 2018	$ 1,576,096	$ 49,187	$ 119,025	$ 2,047,250	$ (239,516)	$ (399,850)

BASIS OF PRESENTATION

BASIS OF PRESENTATION	6 Months Ended
	Jun. 30, 2018
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 global, diversified 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, 2018 and 2017 , there were no 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 2017 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 ASU 2014-09 - Revenue from Contracts with Customers - On January 1, 2018, the Corporation adopted ASC 606, Revenue from Contracts with Customers, and the related amendments (“new revenue standard”) using the modified retrospective method. The Corporation recognized the cumulative effect of initially applying the new revenue standard as an adjustment to the retained earnings balance as of January 1, 2018. Comparative information for prior periods has not been restated and continues to be reported under the accounting standard in effect for those respective periods. The cumulative effect from the adoption of the new revenue standard as of January 1, 2018 was as follows: Balance Sheet (In thousands) As of December 31, 2017 Adjustments due to ASU 2014-09 As of January 1, 2018 Receivables, net $ 494,923 $ 18,363 $ 513,286 Inventories, net 378,866 (23,555 ) 355,311 Other assets 18,229 878 19,107 Deferred revenue 214,891 (2,040 ) 212,851 Retained earnings 1,944,324 (2,274 ) 1,942,050 The impact of adoption on the Corporation's Condensed Consolidated Statement of Earnings and Condensed Consolidated Balance Sheet was as follows: Three Months Ended June 30, 2018 Statement of Earnings (In thousands) As Reported Adjustments Balances Without Adoption of ASC 606 Product sales $ 511,676 $ (5,477 ) $ 506,199 Cost of product sales 324,184 (4,095 ) 320,089 Provision for income taxes (21,693 ) 371 (21,322 ) Net Income $ 74,788 $ (1,011 ) $ 73,777 Six Months Ended June 30, 2018 Statement of Earnings (In thousands) As Reported Adjustments Balances Without Adoption of ASC 606 Product sales $ 956,363 $ (7,511 ) $ 948,852 Cost of product sales 623,495 (3,727 ) 619,768 Provision for income taxes (39,027 ) 986 (38,041 ) Net Income $ 118,431 $ (2,798 ) $ 115,633 As of June 30, 2018 Balance Sheet (In thousands) As Reported Adjustments Balances Without Adoption of ASC 606 Receivables, net $ 575,142 $ (26,158 ) $ 548,984 Inventories, net 436,250 27,557 463,807 Other assets 18,292 (879 ) 17,413 Income taxes payable 4,957 (983 ) 3,974 Deferred revenue 231,187 2,029 233,216 Retained earnings 2,047,250 (526 ) 2,046,724 ASU 2017-07, Retirement Benefits - Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost - On January 1, 2018, the Corporation adopted the amendments to ASC 715 that improve the presentation of net periodic pension and postretirement benefit costs. The Corporation retrospectively adopted the presentation of service cost separate from the other components of net periodic costs and included it as a component of employee compensation cost in operating income. The interest cost, expected return on assets, amortization of prior service costs, and net actuarial gain/loss components of net periodic benefit costs have been reclassified from operating income to other income, net. Additionally, the Corporation elected to apply the practical expedient which allows it to reclassify amounts disclosed previously in Note 15 of the Corporation's 2017 Annual Report on Form 10-K as the basis for applying retrospective presentation for comparative periods. The effect of the retrospective change on the Corporation's Condensed Consolidated Statement of Earnings for the three and six months ended June 30, 2017 , was as follows: Three Months Ended June 30, 2017 Statement of Earnings (In thousands) Previously Reported Adjustments Increase/(Decrease) As Revised Cost of product sales $ 299,739 $ 3,055 $ 302,794 Cost of service sales 69,144 705 69,849 Research and development expenses 15,501 287 15,788 Selling expenses 28,560 495 29,055 General and administrative expenses 71,438 (1,003 ) 70,435 Other income, net 190 3,539 3,729 Six Months Ended June 30, 2017 Statement of Earnings (In thousands) Previously Reported Adjustments Increase/(Decrease) As Revised Cost of product sales $ 586,231 $ 6,173 $ 592,404 Cost of service sales 135,468 1,427 136,895 Research and development expenses 30,799 580 31,379 Selling expenses 57,513 1,000 58,513 General and administrative expenses 146,735 (2,106 ) 144,629 Other income, net 502 7,074 7,576 ASU 2017-01, Business Combinations - Clarifying the Definition of a Business - On January 1, 2018, the Corporation adopted the amendments to ASC 805 which clarify the definition of a business. 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 adoption of this standard did not have a material impact on the Condensed Consolidated Financial Statements. Recent accounting pronouncements to be adopted Standard Description Effect on the condensed consolidated financial statements 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 adoption of this standard is expected to result in an increase of approximately $130 million to $140 million in total assets and total liabilities in the Corporation’s Condensed Consolidated Balance sheet as the Corporation is required to recognize a right-of-use asset and lease liability for all leases greater than 12 months. However, the standard is not expected to have a material impact on the Corporation’s cash flows or results of operations. Date of adoption: January 1, 2019 ASU 2018-02 Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income In February 2018, the FASB issued ASU 2018-02, Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income . This ASU permits the reclassification of tax effects stranded in accumulated other comprehensive income to retained earnings as a result of the 2017 Tax Cuts and Jobs Act (the Tax Act). The standard will be effective for fiscal years beginning after December 15, 2018, and interim periods within those fiscal years, with early adoption permitted. 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 2018-07 Improvements to Nonemployee Share-Based Payment Accounting In June 2018, the FASB issued ASU 2018-07, Improvements to Nonemployee Share-Based Payment Accounting . The ASU simplifies the accounting for share-based payments to nonemployees by aligning it with the accounting for share-based payments to employees, with certain exceptions. The standard will be effective for fiscal years beginning after December 15, 2018, and interim periods within those fiscal years, with early adoption permitted. The Corporation does not expect the adoption of this standard to have a material impact on its Condensed Consolidated Financial Statements. Date of adoption: January 1, 2019 Impact from the Tax Act In accordance with Staff Bulletin No. 118, Income Tax Implications of the Tax Cuts and Jobs Act , the Corporation recognized the income tax effects of the Tax Act in its consolidated financial statements for the year ended December 31, 2017. During the six months ended June 30, 2018 , the Corporation recorded additional provisional tax expense of $6.5 million for foreign withholding taxes associated with the Tax Act. The Corporation expects to finalize any provisional amounts associated with the Tax Act over the next six months based on ongoing assessment of its tax positions and other relevant data.

ACQUISITIONS

ACQUISITIONS	6 Months Ended
	Jun. 30, 2018
Business Combinations [Abstract]
ACQUISITIONS	3 . 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 acquisition purchase price reflects 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, 2018 , the Corporation acquired one business for an aggregate purchase price of $213 million , which is described in more detail below. 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. The Condensed Consolidated Statement of Earnings for the six months ended June 30, 2018 includes $22 million of total net sales and $3 million of net losses from the Corporation's 2018 acquisition. The Condensed Consolidated Statement of Earnings for the six months ended June 30, 2017 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, 2018 and 2017 . (In thousands) 2018 2017 Accounts receivable $ 8,143 $ 5,020 Inventory 49,508 22,702 Property, plant, and equipment 3,203 4,598 Other current and non-current assets 47 2,815 Intangible assets 141,100 88,900 Current and non-current liabilities (6,734 ) (7,163 ) Due to seller, net — (509 ) Net tangible and intangible assets 195,267 116,363 Purchase price, net of cash acquired 212,737 232,630 Goodwill $ 17,470 $ 116,267 Goodwill deductible for tax purposes $ 17,470 $ 116,267 2018 Acquisitions Dresser-Rand Government Business (DRG) On April 2, 2018 , the Corporation acquired certain assets and assumed certain liabilities of DRG for $212.7 million in cash. The Asset Purchase Agreement contains a purchase price adjustment mechanism and representations and warranties customary for a transaction of this type. DRG is a designer and manufacturer of mission-critical, high-speed rotating equipment solutions and also acts as the sole supplier of steam turbines and main engine guard valves on all aircraft carrier programs. The acquired business operates within the Corporation's Power segment. The acquisition is subject to post-closing adjustments with the purchase price allocation not yet complete. 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. The acquired business operates within the Defense segment. 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.

RECEIVABLES

RECEIVABLES	6 Months Ended
	Jun. 30, 2018
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, 2018 December 31, 2017 Billed receivables: Trade and other receivables $ 389,249 $ 363,234 Less: Allowance for doubtful accounts (9,039 ) (7,486 ) Net billed receivables 380,210 355,748 Unbilled receivables (Contract Assets): Recoverable costs and estimated earnings not billed 215,895 160,727 Less: Progress payments applied (20,963 ) (21,552 ) Net unbilled receivables 194,932 139,175 Receivables, net $ 575,142 $ 494,923

INVENTORIES

INVENTORIES	6 Months Ended
	Jun. 30, 2018
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, 2018 December 31, 2017 Raw materials $ 213,306 $ 191,855 Work-in-process 97,420 73,937 Finished goods 152,915 114,307 Inventoried costs related to U.S. Government and other long-term contracts 51,733 65,150 Gross inventories 515,374 445,249 Less: Inventory reserves (60,383 ) (54,638 ) Progress payments applied, principally related to long-term contracts (18,741 ) (11,745 ) Inventories, net $ 436,250 $ 378,866 Inventoried costs related to long-term contracts include capitalized contract development costs related to certain aerospace and defense programs of $45.3 million and $35.0 million as of June 30, 2018 and December 31, 2017 , respectively. These capitalized costs will be liquidated as units are produced. As of June 30, 2018 and December 31, 2017 , $19.6 million and $5.4 million , respectively, are scheduled to be liquidated under existing firm orders.

GOODWILL

GOODWILL	6 Months Ended
	Jun. 30, 2018
Goodwill [Abstract]
GOODWILL	GOODWILL The changes in the carrying amount of goodwill for the six months ended June 30, 2018 are as follows: (In thousands) Commercial/Industrial Defense Power Consolidated December 31, 2017 $ 448,531 $ 460,332 $ 187,466 $ 1,096,329 Acquisitions — — 17,470 17,470 Adjustments — (1,594 ) — (1,594 ) Foreign currency translation adjustment (3,224 ) (5,283 ) (136 ) (8,643 ) June 30, 2018 $ 445,307 $ 453,455 $ 204,800 $ 1,103,562

OTHER INTANGIBLE ASSETS, NET

OTHER INTANGIBLE ASSETS, NET	6 Months Ended
	Jun. 30, 2018
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, 2018 December 31, 2017 (In thousands) Gross Accumulated Amortization Net Gross Accumulated Amortization Net Technology $ 240,101 $ (118,477 ) $ 121,624 $ 243,440 $ (114,036 ) $ 129,404 Customer related intangibles 362,015 (185,281 ) 176,734 367,230 (180,580 ) 186,650 Programs (1) 139,000 (1,738 ) 137,262 — — — Other intangible assets 42,114 (28,638 ) 13,476 40,640 (27,026 ) 13,614 Total $ 783,230 $ (334,134 ) $ 449,096 $ 651,310 $ (321,642 ) $ 329,668 (1) Programs include values assigned to major programs of acquired businesses and represent the aggregate value associated with the customer relationships, contracts, technology, and trademarks underlying the associated program. During the six months ended June 30, 2018 , the Corporation acquired intangible assets of $141.1 million . The Corporation acquired Programs of $139.0 million , Customer-related intangibles of $1.8 million , and Other intangible assets of $0.3 million , which have a weighted average amortization period of 20.0 years, 10.4 years, and 8.0 years, respectively. Total intangible amortization expense for the six months ended June 30, 2018 was $21.1 million as compared to $19.1 million in the comparable prior year period. The estimated amortization expense for the five years ending December 31, 2018 through 2022 is $43.6 million , $43.5 million , $41.6 million , $39.8 million , and $37.3 million , respectively.

FAIR VALUE OF FINANCIAL INSTRUM

FAIR VALUE OF FINANCIAL INSTRUMENTS	6 Months Ended
	Jun. 30, 2018
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, 2018 and December 31, 2017 , the fair values of the asset and liability derivative instruments were immaterial. Effects on Condensed Consolidated Statements of Earnings Undesignated hedges For the three and six months ended June 30, 2018 and 2017, the gains or losses recognized in income on forward exchange derivative contracts not designated for hedge accounting were immaterial. 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 issuances as of June 30, 2018 . 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, 2018 December 31, 2017 (In thousands) Carrying Value Estimated Fair Value Carrying Value Estimated Fair Value 3.84% Senior notes due 2021 100,000 100,451 100,000 102,472 3.70% Senior notes due 2023 225,000 224,066 225,000 228,783 3.85% Senior notes due 2025 100,000 99,603 100,000 102,164 4.24% Senior notes due 2026 200,000 202,779 200,000 208,873 4.05% Senior notes due 2028 75,000 74,636 75,000 76,997 4.11% Senior notes due 2028 100,000 99,956 100,000 103,226 Other debt 959 959 150 150 Total debt 800,959 802,450 800,150 822,665 Debt issuance costs, net (774 ) (774 ) (831 ) (831 ) Unamortized interest rate swap proceeds 13,924 13,924 14,820 14,820 Total debt, net $ 814,109 $ 815,600 $ 814,139 $ 836,654

PENSION AND OTHER POSTRETIREMEN

PENSION AND OTHER POSTRETIREMENT BENEFIT PLANS	6 Months Ended
	Jun. 30, 2018
Retirement Benefits, Description [Abstract]
PENSION AND OTHER POSTRETIREMENT BENEFIT PLANS	PENSION PLANS The following tables are consolidated disclosures of all domestic and foreign defined pension plans as described in the Corporation’s 2017 Annual Report on Form 10-K. Pension Plans The components of net periodic pension cost for the three and six months ended June 30, 2018 and 2017 were as follows: Three Months Ended Six Months Ended (In thousands) June 30, June 30, 2018 2017 2018 2017 Service cost $ 6,495 $ 6,474 $ 13,001 $ 12,945 Interest cost 6,521 6,236 13,055 12,455 Expected return on plan assets (14,695 ) (13,310 ) (29,411 ) (26,595 ) Amortization of prior service cost (62 ) (26 ) (125 ) (51 ) Amortization of unrecognized actuarial loss 3,903 3,585 7,809 7,166 Net periodic benefit cost $ 2,162 $ 2,959 $ 4,329 $ 5,920 During the six months ended June 30, 2018 , the Corporation made a $50 million contribution to the Curtiss-Wright Pension Plan, and does not expect to make any further contributions in 2018 . Contributions to the foreign benefit plans are not expected to be material in 2018 . Defined Contribution Retirement Plan Effective January 1, 2014 , all non-union employees who were 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, 2018 and 2017 , the expense relating to the plan was $7.4 million and $6.8 million , respectively. The Corporation made $10.8 million in contributions to the plan during the six months ended June 30, 2018 , and expects to make total contributions of $14.0 million in 2018 .

EARNINGS PER SHARE

EARNINGS PER SHARE	6 Months Ended
	Jun. 30, 2018
Earnings Per Share [Abstract]
EARNINGS PER SHARE	EARNINGS PER SHARE Diluted earnings per share was 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, 2018 2017 2018 2017 Basic weighted-average shares outstanding 44,124 44,213 44,144 44,221 Dilutive effect of stock options and deferred stock compensation 429 594 460 604 Diluted weighted-average shares outstanding 44,553 44,807 44,604 44,825 For the three and six months ended June 30, 2018 , there were no anti-dilutive equity-based awards. For the three 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.

SEGMENT INFORMATION

SEGMENT INFORMATION	6 Months Ended
	Jun. 30, 2018
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, 2018 2017 2018 2017 Net sales Commercial/Industrial $ 312,605 $ 291,856 $ 609,358 $ 570,912 Defense 148,085 127,399 268,968 242,236 Power 162,049 149,970 294,207 280,565 Less: Intersegment revenues (2,441 ) (1,572 ) (4,713 ) (2,469 ) Total consolidated $ 620,298 $ 567,653 $ 1,167,820 $ 1,091,244 Operating income (expense) Commercial/Industrial $ 51,736 $ 43,620 $ 90,961 $ 74,172 Defense 38,641 21,128 58,369 32,225 Power 19,201 23,875 34,543 39,420 Corporate and eliminations (1) (7,502 ) (8,891 ) (17,299 ) (18,393 ) Total consolidated $ 102,076 $ 79,732 $ 166,574 $ 127,424 (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, 2018 2017 2018 2017 Total operating income $ 102,076 $ 79,732 $ 166,574 $ 127,424 Interest expense 9,566 10,750 17,770 21,127 Other income, net 3,971 3,729 8,654 7,576 Earnings before income taxes $ 96,481 $ 72,711 $ 157,458 $ 113,873 (In thousands) June 30, 2018 December 31, 2017 Identifiable assets Commercial/Industrial $ 1,425,220 $ 1,444,097 Defense 988,651 1,044,776 Power 709,066 482,753 Corporate and Other 107,251 264,695 Total consolidated $ 3,230,188 $ 3,236,321

ACCUMULATED OTHER COMPREHENSIVE

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)	6 Months Ended
	Jun. 30, 2018
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, 2016 $ (172,650 ) $ (119,106 ) $ (291,756 ) Other comprehensive income (loss) before reclassifications (1) 77,942 (10,831 ) 67,111 Amounts reclassified from accumulated other comprehensive loss (1) — 7,805 7,805 Net current period other comprehensive loss 77,942 (3,026 ) 74,916 December 31, 2017 $ (94,708 ) $ (122,132 ) $ (216,840 ) Other comprehensive income (loss) before reclassifications (1) (28,360 ) 151 (28,209 ) Amounts reclassified from accumulated other comprehensive income (loss) (1) — 5,533 5,533 Net current period other comprehensive income (loss) (28,360 ) 5,684 (22,676 ) June 30, 2018 $ (123,068 ) $ (116,448 ) $ (239,516 ) (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 454 (1) Amortization of actuarial losses (7,795 ) (1) (7,341 ) Total before tax 1,808 Income tax Total reclassifications $ (5,533 ) Net of tax (1) These items are included in the computation of net periodic benefit cost. See Note 9 , Pension and Other Postretirement Benefit Plans .

CONTINGENCIES AND COMMITMENTS

CONTINGENCIES AND COMMITMENTS	6 Months Ended
	Jun. 30, 2018
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. In October 2017, all parties agreed in principle to participate in a formal mediation in late 2018 with the intention of settling this claim. In an effort to induce the parties to participate in the formal mediation, CNRL agreed to reduce its claim to approximately $400 million , which reflects the monetary amount of property damage incurred as a result of the fire and explosion. The Corporation is currently unable to estimate an amount, or range of potential losses, if any, from this matter. The Corporation believes that 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, WEC filed for Chapter 11 bankruptcy protection in the United States Bankruptcy Court for the Southern District of New York (the Court), Case No. 17-10751. The Court overseeing the Bankruptcy Case approved, on an interim basis, an $800 million Debtor-in-Possession Financing Facility to help WEC finance its business operations during the reorganization process. On January 4, 2018, WEC announced that it had agreed to be acquired by Brookfield Business Partners L.P (Brookfield) for approximately $4.6 billion , with the acquisition expected to close in the third quarter of 2018. On March 27, 2018, the Court approved the sale to Brookfield. The acquisition is not expected to have a material impact on the Corporation’s financial condition or results of operations as WEC plans to continue operating in the ordinary course of business under existing senior management. The Corporation has approximately $2.9 million in pre-petition billings outstanding with WEC as of June 30, 2018. On March 27, 2018, the Court approved WEC's Plan of Reorganization, whereby the Corporation is expected to recover substantially all of its general unsecured claims inclusive of pre-petition billings. As it relates to post-petition work, the Corporation will continue to honor its executory contracts and expects to collect all amounts due. The Corporation will continue to monitor and evaluate the status of the WEC bankruptcy for potential impacts on its 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, 2018 and December 31, 2017 , there were $19.7 million and $21.3 million of stand-by letters of credit outstanding, respectively, and $14.0 million and $14.6 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, 2018 , the Corporation has not met certain contractual delivery dates under its AP 1000 China and U.S. 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, 2018 . As of June 30, 2018 , the range of possible loss is $0 to $31 million for the AP1000 U.S. contract, for a total range of possible loss of $0 to $55.5 million .

BASIS OF PRESENTATION (Policies

BASIS OF PRESENTATION (Policies)	6 Months Ended
	Jun. 30, 2018
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis Of Accounting	Curtiss-Wright Corporation and its subsidiaries (the "Corporation" or the "Company") is a global, diversified 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, 2018 and 2017 , there were no 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 2017 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 ASU 2014-09 - Revenue from Contracts with Customers - On January 1, 2018, the Corporation adopted ASC 606, Revenue from Contracts with Customers, and the related amendments (“new revenue standard”) using the modified retrospective method. The Corporation recognized the cumulative effect of initially applying the new revenue standard as an adjustment to the retained earnings balance as of January 1, 2018. Comparative information for prior periods has not been restated and continues to be reported under the accounting standard in effect for those respective periods. The cumulative effect from the adoption of the new revenue standard as of January 1, 2018 was as follows: Balance Sheet (In thousands) As of December 31, 2017 Adjustments due to ASU 2014-09 As of January 1, 2018 Receivables, net $ 494,923 $ 18,363 $ 513,286 Inventories, net 378,866 (23,555 ) 355,311 Other assets 18,229 878 19,107 Deferred revenue 214,891 (2,040 ) 212,851 Retained earnings 1,944,324 (2,274 ) 1,942,050 The impact of adoption on the Corporation's Condensed Consolidated Statement of Earnings and Condensed Consolidated Balance Sheet was as follows: Three Months Ended June 30, 2018 Statement of Earnings (In thousands) As Reported Adjustments Balances Without Adoption of ASC 606 Product sales $ 511,676 $ (5,477 ) $ 506,199 Cost of product sales 324,184 (4,095 ) 320,089 Provision for income taxes (21,693 ) 371 (21,322 ) Net Income $ 74,788 $ (1,011 ) $ 73,777 Six Months Ended June 30, 2018 Statement of Earnings (In thousands) As Reported Adjustments Balances Without Adoption of ASC 606 Product sales $ 956,363 $ (7,511 ) $ 948,852 Cost of product sales 623,495 (3,727 ) 619,768 Provision for income taxes (39,027 ) 986 (38,041 ) Net Income $ 118,431 $ (2,798 ) $ 115,633 As of June 30, 2018 Balance Sheet (In thousands) As Reported Adjustments Balances Without Adoption of ASC 606 Receivables, net $ 575,142 $ (26,158 ) $ 548,984 Inventories, net 436,250 27,557 463,807 Other assets 18,292 (879 ) 17,413 Income taxes payable 4,957 (983 ) 3,974 Deferred revenue 231,187 2,029 233,216 Retained earnings 2,047,250 (526 ) 2,046,724 ASU 2017-07, Retirement Benefits - Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost - On January 1, 2018, the Corporation adopted the amendments to ASC 715 that improve the presentation of net periodic pension and postretirement benefit costs. The Corporation retrospectively adopted the presentation of service cost separate from the other components of net periodic costs and included it as a component of employee compensation cost in operating income. The interest cost, expected return on assets, amortization of prior service costs, and net actuarial gain/loss components of net periodic benefit costs have been reclassified from operating income to other income, net. Additionally, the Corporation elected to apply the practical expedient which allows it to reclassify amounts disclosed previously in Note 15 of the Corporation's 2017 Annual Report on Form 10-K as the basis for applying retrospective presentation for comparative periods. The effect of the retrospective change on the Corporation's Condensed Consolidated Statement of Earnings for the three and six months ended June 30, 2017 , was as follows: Three Months Ended June 30, 2017 Statement of Earnings (In thousands) Previously Reported Adjustments Increase/(Decrease) As Revised Cost of product sales $ 299,739 $ 3,055 $ 302,794 Cost of service sales 69,144 705 69,849 Research and development expenses 15,501 287 15,788 Selling expenses 28,560 495 29,055 General and administrative expenses 71,438 (1,003 ) 70,435 Other income, net 190 3,539 3,729 Six Months Ended June 30, 2017 Statement of Earnings (In thousands) Previously Reported Adjustments Increase/(Decrease) As Revised Cost of product sales $ 586,231 $ 6,173 $ 592,404 Cost of service sales 135,468 1,427 136,895 Research and development expenses 30,799 580 31,379 Selling expenses 57,513 1,000 58,513 General and administrative expenses 146,735 (2,106 ) 144,629 Other income, net 502 7,074 7,576 ASU 2017-01, Business Combinations - Clarifying the Definition of a Business - On January 1, 2018, the Corporation adopted the amendments to ASC 805 which clarify the definition of a business. 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 adoption of this standard did not have a material impact on the Condensed Consolidated Financial Statements. Recent accounting pronouncements to be adopted Standard Description Effect on the condensed consolidated financial statements 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 adoption of this standard is expected to result in an increase of approximately $130 million to $140 million in total assets and total liabilities in the Corporation’s Condensed Consolidated Balance sheet as the Corporation is required to recognize a right-of-use asset and lease liability for all leases greater than 12 months. However, the standard is not expected to have a material impact on the Corporation’s cash flows or results of operations. Date of adoption: January 1, 2019 ASU 2018-02 Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income In February 2018, the FASB issued ASU 2018-02, Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income . This ASU permits the reclassification of tax effects stranded in accumulated other comprehensive income to retained earnings as a result of the 2017 Tax Cuts and Jobs Act (the Tax Act). The standard will be effective for fiscal years beginning after December 15, 2018, and interim periods within those fiscal years, with early adoption permitted. 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 2018-07 Improvements to Nonemployee Share-Based Payment Accounting In June 2018, the FASB issued ASU 2018-07, Improvements to Nonemployee Share-Based Payment Accounting . The ASU simplifies the accounting for share-based payments to nonemployees by aligning it with the accounting for share-based payments to employees, with certain exceptions. The standard will be effective for fiscal years beginning after December 15, 2018, and interim periods within those fiscal years, with early adoption permitted. The Corporation does not expect the adoption of this standard to have a material impact on its Condensed Consolidated Financial Statements. Date of adoption: January 1, 2019 Impact from the Tax Act In accordance with Staff Bulletin No. 118, Income Tax Implications of the Tax Cuts and Jobs Act , the Corporation recognized the income tax effects of the Tax Act in its consolidated financial statements for the year ended December 31, 2017. During the six months ended June 30, 2018 , the Corporation recorded additional provisional tax expense of $6.5 million for foreign withholding taxes associated with the Tax Act. The Corporation expects to finalize any provisional amounts associated with the Tax Act over the next six months based on ongoing assessment of its tax positions and other relevant data.

BASIS OF PRESENTATION Tables (T

BASIS OF PRESENTATION Tables (Tables)	6 Months Ended
	Jun. 30, 2018
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 ASU 2014-09 - Revenue from Contracts with Customers - On January 1, 2018, the Corporation adopted ASC 606, Revenue from Contracts with Customers, and the related amendments (“new revenue standard”) using the modified retrospective method. The Corporation recognized the cumulative effect of initially applying the new revenue standard as an adjustment to the retained earnings balance as of January 1, 2018. Comparative information for prior periods has not been restated and continues to be reported under the accounting standard in effect for those respective periods. The cumulative effect from the adoption of the new revenue standard as of January 1, 2018 was as follows: Balance Sheet (In thousands) As of December 31, 2017 Adjustments due to ASU 2014-09 As of January 1, 2018 Receivables, net $ 494,923 $ 18,363 $ 513,286 Inventories, net 378,866 (23,555 ) 355,311 Other assets 18,229 878 19,107 Deferred revenue 214,891 (2,040 ) 212,851 Retained earnings 1,944,324 (2,274 ) 1,942,050 The impact of adoption on the Corporation's Condensed Consolidated Statement of Earnings and Condensed Consolidated Balance Sheet was as follows: Three Months Ended June 30, 2018 Statement of Earnings (In thousands) As Reported Adjustments Balances Without Adoption of ASC 606 Product sales $ 511,676 $ (5,477 ) $ 506,199 Cost of product sales 324,184 (4,095 ) 320,089 Provision for income taxes (21,693 ) 371 (21,322 ) Net Income $ 74,788 $ (1,011 ) $ 73,777 Six Months Ended June 30, 2018 Statement of Earnings (In thousands) As Reported Adjustments Balances Without Adoption of ASC 606 Product sales $ 956,363 $ (7,511 ) $ 948,852 Cost of product sales 623,495 (3,727 ) 619,768 Provision for income taxes (39,027 ) 986 (38,041 ) Net Income $ 118,431 $ (2,798 ) $ 115,633 As of June 30, 2018 Balance Sheet (In thousands) As Reported Adjustments Balances Without Adoption of ASC 606 Receivables, net $ 575,142 $ (26,158 ) $ 548,984 Inventories, net 436,250 27,557 463,807 Other assets 18,292 (879 ) 17,413 Income taxes payable 4,957 (983 ) 3,974 Deferred revenue 231,187 2,029 233,216 Retained earnings 2,047,250 (526 ) 2,046,724 ASU 2017-07, Retirement Benefits - Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost - On January 1, 2018, the Corporation adopted the amendments to ASC 715 that improve the presentation of net periodic pension and postretirement benefit costs. The Corporation retrospectively adopted the presentation of service cost separate from the other components of net periodic costs and included it as a component of employee compensation cost in operating income. The interest cost, expected return on assets, amortization of prior service costs, and net actuarial gain/loss components of net periodic benefit costs have been reclassified from operating income to other income, net. Additionally, the Corporation elected to apply the practical expedient which allows it to reclassify amounts disclosed previously in Note 15 of the Corporation's 2017 Annual Report on Form 10-K as the basis for applying retrospective presentation for comparative periods. The effect of the retrospective change on the Corporation's Condensed Consolidated Statement of Earnings for the three and six months ended June 30, 2017 , was as follows: Three Months Ended June 30, 2017 Statement of Earnings (In thousands) Previously Reported Adjustments Increase/(Decrease) As Revised Cost of product sales $ 299,739 $ 3,055 $ 302,794 Cost of service sales 69,144 705 69,849 Research and development expenses 15,501 287 15,788 Selling expenses 28,560 495 29,055 General and administrative expenses 71,438 (1,003 ) 70,435 Other income, net 190 3,539 3,729 Six Months Ended June 30, 2017 Statement of Earnings (In thousands) Previously Reported Adjustments Increase/(Decrease) As Revised Cost of product sales $ 586,231 $ 6,173 $ 592,404 Cost of service sales 135,468 1,427 136,895 Research and development expenses 30,799 580 31,379 Selling expenses 57,513 1,000 58,513 General and administrative expenses 146,735 (2,106 ) 144,629 Other income, net 502 7,074 7,576 ASU 2017-01, Business Combinations - Clarifying the Definition of a Business - On January 1, 2018, the Corporation adopted the amendments to ASC 805 which clarify the definition of a business. 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 adoption of this standard did not have a material impact on the Condensed Consolidated Financial Statements.

ACQUISITIONS (Tables)

ACQUISITIONS (Tables)	6 Months Ended
	Jun. 30, 2018
Business Combinations [Abstract]
Schedule of Business Acquisitions, by Acquisition [Table Text Block]	(In thousands) 2018 2017 Accounts receivable $ 8,143 $ 5,020 Inventory 49,508 22,702 Property, plant, and equipment 3,203 4,598 Other current and non-current assets 47 2,815 Intangible assets 141,100 88,900 Current and non-current liabilities (6,734 ) (7,163 ) Due to seller, net — (509 ) Net tangible and intangible assets 195,267 116,363 Purchase price, net of cash acquired 212,737 232,630 Goodwill $ 17,470 $ 116,267 Goodwill deductible for tax purposes $ 17,470 $ 116,267

RECEIVABLES (Table)

RECEIVABLES (Table)	6 Months Ended
	Jun. 30, 2018
Receivables [Abstract]
Schedule Of Accounts Notes Loans And Financing Receivable	The composition of receivables is as follows: (In thousands) June 30, 2018 December 31, 2017 Billed receivables: Trade and other receivables $ 389,249 $ 363,234 Less: Allowance for doubtful accounts (9,039 ) (7,486 ) Net billed receivables 380,210 355,748 Unbilled receivables (Contract Assets): Recoverable costs and estimated earnings not billed 215,895 160,727 Less: Progress payments applied (20,963 ) (21,552 ) Net unbilled receivables 194,932 139,175 Receivables, net $ 575,142 $ 494,923

INVENTORIES (Table)

INVENTORIES (Table)	6 Months Ended
	Jun. 30, 2018
Inventory, Net [Abstract]
Schedule Of Inventory	(In thousands) June 30, 2018 December 31, 2017 Raw materials $ 213,306 $ 191,855 Work-in-process 97,420 73,937 Finished goods 152,915 114,307 Inventoried costs related to U.S. Government and other long-term contracts 51,733 65,150 Gross inventories 515,374 445,249 Less: Inventory reserves (60,383 ) (54,638 ) Progress payments applied, principally related to long-term contracts (18,741 ) (11,745 ) Inventories, net $ 436,250 $ 378,866

GOODWILL (Table)

GOODWILL (Table)	6 Months Ended
	Jun. 30, 2018
Goodwill [Abstract]
Schedule Of Goodwill	The changes in the carrying amount of goodwill for the six months ended June 30, 2018 are as follows: (In thousands) Commercial/Industrial Defense Power Consolidated December 31, 2017 $ 448,531 $ 460,332 $ 187,466 $ 1,096,329 Acquisitions — — 17,470 17,470 Adjustments — (1,594 ) — (1,594 ) Foreign currency translation adjustment (3,224 ) (5,283 ) (136 ) (8,643 ) June 30, 2018 $ 445,307 $ 453,455 $ 204,800 $ 1,103,562

OTHER INTANGIBLE ASSETS, NET (T

OTHER INTANGIBLE ASSETS, NET (Table)	6 Months Ended
	Jun. 30, 2018
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, 2018 December 31, 2017 (In thousands) Gross Accumulated Amortization Net Gross Accumulated Amortization Net Technology $ 240,101 $ (118,477 ) $ 121,624 $ 243,440 $ (114,036 ) $ 129,404 Customer related intangibles 362,015 (185,281 ) 176,734 367,230 (180,580 ) 186,650 Programs (1) 139,000 (1,738 ) 137,262 — — — Other intangible assets 42,114 (28,638 ) 13,476 40,640 (27,026 ) 13,614 Total $ 783,230 $ (334,134 ) $ 449,096 $ 651,310 $ (321,642 ) $ 329,668

FAIR VALUE OF FINANCIAL INSTR28

FAIR VALUE OF FINANCIAL INSTRUMENTS (Table)	6 Months Ended
	Jun. 30, 2018
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 For the three and six months ended June 30, 2018 and 2017, the gains or losses recognized in income on forward exchange derivative contracts not designated for hedge accounting were immaterial.
Schedule of Carrying Values and Estimated Fair Values of Debt Instruments [Table Text Block]	June 30, 2018 December 31, 2017 (In thousands) Carrying Value Estimated Fair Value Carrying Value Estimated Fair Value 3.84% Senior notes due 2021 100,000 100,451 100,000 102,472 3.70% Senior notes due 2023 225,000 224,066 225,000 228,783 3.85% Senior notes due 2025 100,000 99,603 100,000 102,164 4.24% Senior notes due 2026 200,000 202,779 200,000 208,873 4.05% Senior notes due 2028 75,000 74,636 75,000 76,997 4.11% Senior notes due 2028 100,000 99,956 100,000 103,226 Other debt 959 959 150 150 Total debt 800,959 802,450 800,150 822,665 Debt issuance costs, net (774 ) (774 ) (831 ) (831 ) Unamortized interest rate swap proceeds 13,924 13,924 14,820 14,820 Total debt, net $ 814,109 $ 815,600 $ 814,139 $ 836,654

PENSION AND OTHER POSTRETIREM29

PENSION AND OTHER POSTRETIREMENT BENEFIT PLANS (Table)	6 Months Ended
	Jun. 30, 2018
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, 2018 and 2017 were as follows: Three Months Ended Six Months Ended (In thousands) June 30, June 30, 2018 2017 2018 2017 Service cost $ 6,495 $ 6,474 $ 13,001 $ 12,945 Interest cost 6,521 6,236 13,055 12,455 Expected return on plan assets (14,695 ) (13,310 ) (29,411 ) (26,595 ) Amortization of prior service cost (62 ) (26 ) (125 ) (51 ) Amortization of unrecognized actuarial loss 3,903 3,585 7,809 7,166 Net periodic benefit cost $ 2,162 $ 2,959 $ 4,329 $ 5,920

EARNINGS PER SHARE (Table)

EARNINGS PER SHARE (Table)	6 Months Ended
	Jun. 30, 2018
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, 2018 2017 2018 2017 Basic weighted-average shares outstanding 44,124 44,213 44,144 44,221 Dilutive effect of stock options and deferred stock compensation 429 594 460 604 Diluted weighted-average shares outstanding 44,553 44,807 44,604 44,825

SEGMENT INFORMATION (Table)

SEGMENT INFORMATION (Table)	6 Months Ended
	Jun. 30, 2018
Segment Reporting [Abstract]
Schedule Of Segment Reporting Information By Segment	Three Months Ended Six Months Ended (In thousands) June 30, June 30, 2018 2017 2018 2017 Net sales Commercial/Industrial $ 312,605 $ 291,856 $ 609,358 $ 570,912 Defense 148,085 127,399 268,968 242,236 Power 162,049 149,970 294,207 280,565 Less: Intersegment revenues (2,441 ) (1,572 ) (4,713 ) (2,469 ) Total consolidated $ 620,298 $ 567,653 $ 1,167,820 $ 1,091,244 Operating income (expense) Commercial/Industrial $ 51,736 $ 43,620 $ 90,961 $ 74,172 Defense 38,641 21,128 58,369 32,225 Power 19,201 23,875 34,543 39,420 Corporate and eliminations (1) (7,502 ) (8,891 ) (17,299 ) (18,393 ) Total consolidated $ 102,076 $ 79,732 $ 166,574 $ 127,424 (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, 2018 2017 2018 2017 Total operating income $ 102,076 $ 79,732 $ 166,574 $ 127,424 Interest expense 9,566 10,750 17,770 21,127 Other income, net 3,971 3,729 8,654 7,576 Earnings before income taxes $ 96,481 $ 72,711 $ 157,458 $ 113,873
Reconciliation Of Assets From Segment To Consolidated	(In thousands) June 30, 2018 December 31, 2017 Identifiable assets Commercial/Industrial $ 1,425,220 $ 1,444,097 Defense 988,651 1,044,776 Power 709,066 482,753 Corporate and Other 107,251 264,695 Total consolidated $ 3,230,188 $ 3,236,321

ACCUMULATED OTHER COMPREHENSI32

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) (Table)	6 Months Ended
	Jun. 30, 2018
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, 2016 $ (172,650 ) $ (119,106 ) $ (291,756 ) Other comprehensive income (loss) before reclassifications (1) 77,942 (10,831 ) 67,111 Amounts reclassified from accumulated other comprehensive loss (1) — 7,805 7,805 Net current period other comprehensive loss 77,942 (3,026 ) 74,916 December 31, 2017 $ (94,708 ) $ (122,132 ) $ (216,840 ) Other comprehensive income (loss) before reclassifications (1) (28,360 ) 151 (28,209 ) Amounts reclassified from accumulated other comprehensive income (loss) (1) — 5,533 5,533 Net current period other comprehensive income (loss) (28,360 ) 5,684 (22,676 ) June 30, 2018 $ (123,068 ) $ (116,448 ) $ (239,516 ) (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 454 (1) Amortization of actuarial losses (7,795 ) (1) (7,341 ) Total before tax 1,808 Income tax Total reclassifications $ (5,533 ) Net of tax (1) These items are included in the computation of net periodic benefit cost. See Note 9 , 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, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017	Dec. 31, 2017
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Product sales	$ 511,676	$ 459,774	$ 956,363	$ 883,003
Cost of product sales	324,184	302,794	623,495	592,404
Cost of service sales	69,614	69,849	136,634	136,895
Research and development expenses	15,054	15,788	30,995	31,379
Selling expenses	32,665	29,055	64,185	58,513
General and administrative expenses	76,705	70,435	145,937	144,629
Other income, net	3,971	3,729	8,654	7,576
Provision for income taxes	(21,693)	(22,061)	(39,027)	(30,676)
Net earnings	74,788	50,650	118,431	83,197
Receivables, net	575,142		575,142		$ 494,923
Inventories, net	436,250		436,250		378,866
Other assets	18,292		18,292		18,229
Income taxes payable	4,957		4,957		4,564
Deferred revenue	231,187		231,187		214,891
Retained earnings	2,047,250		2,047,250		1,944,324
Tax Cuts and Jobs Act of 2017, Incomplete Accounting, Transition Tax for Accumulated Foreign Earnings, Provisional Undistributed Income tax Expense			6,500
Accounting Standards Update 2017-07 [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Cost of product sales		3,055		6,173
Cost of service sales		705		1,427
Research and development expenses		287		580
Selling expenses		495		1,000
General and administrative expenses		(1,003)		(2,106)
Other income, net		3,539		7,074
Accounting Standards Update 2014-09 [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Product sales	(5,477)		(7,511)
Cost of product sales	(4,095)		(3,727)
Provision for income taxes	371		986
Net earnings	(1,011)		(2,798)
Receivables, net	(26,158)		(26,158)		18,363
Inventories, net	27,557		27,557		(23,555)
Other assets	(879)		(879)		878
Income taxes payable	(983)		(983)
Deferred revenue	2,029		2,029		(2,040)
Retained earnings	(526)		(526)		(2,274)
Restatement Adjustment [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Product sales	506,199		948,852
Cost of product sales	320,089		619,768
Provision for income taxes	(21,322)		(38,041)
Net earnings	73,777		115,633
Receivables, net	548,984		548,984		513,286
Inventories, net	463,807		463,807		355,311
Other assets	17,413		17,413		19,107
Income taxes payable	3,974		3,974
Deferred revenue	233,216		233,216		212,851
Retained earnings	$ 2,046,724		2,046,724		$ 1,942,050
Scenario, Previously Reported [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Cost of product sales		299,739		586,231
Cost of service sales		69,144		135,468
Research and development expenses		15,501		30,799
Selling expenses		28,560		57,513
General and administrative expenses		71,438		146,735
Other income, net		$ 190		$ 502
Minimum [Member] | Accounting Standards Update 2016-02 [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
New Accounting Pronouncement or Change in Accounting Principle, Effect of Adoption, Quantification			130,000
Maximum [Member] | Accounting Standards Update 2016-02 [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
New Accounting Pronouncement or Change in Accounting Principle, Effect of Adoption, Quantification			$ 140,000

REVENUE DISAGGREGATION OF REVEN

REVENUE DISAGGREGATION OF REVENUE (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Disaggregation of Revenue [Line Items]
Net sales	$ 620,298	$ 567,653	$ 1,167,820	$ 1,091,244
Defense [Member]
Disaggregation of Revenue [Line Items]
Net sales	253,967	212,894	459,281	395,936
Commercial [Member]
Disaggregation of Revenue [Line Items]
Net sales	366,331	354,759	708,539	695,308
Defense Aerospace [Member] | Defense [Member]
Disaggregation of Revenue [Line Items]
Net sales	98,268	89,367	174,209	154,661
Defense Ground [Member] | Defense [Member]
Disaggregation of Revenue [Line Items]
Net sales	20,272	17,515	42,282	37,251
Naval [Member] | Defense [Member]
Disaggregation of Revenue [Line Items]
Net sales	132,005	100,048	234,786	191,018
Defense Other [Member] | Defense [Member]
Disaggregation of Revenue [Line Items]
Net sales	3,422	5,964	8,004	13,006
Commercial Aerospace [Member] | Commercial [Member]
Disaggregation of Revenue [Line Items]
Net sales	104,617	100,353	204,021	198,966
Power Generation [Member] | Commercial [Member]
Disaggregation of Revenue [Line Items]
Net sales	102,075	114,773	201,087	220,324
General Industrial [Member] | Commercial [Member]
Disaggregation of Revenue [Line Items]
Net sales	$ 159,639	$ 139,633	$ 303,431	$ 276,018
Transferred over Time [Member]
Disaggregation of Revenue [Line Items]
Net Sales, Net, Percent	31.00%		31.00%
Transferred at Point in Time [Member]
Disaggregation of Revenue [Line Items]
Net Sales, Net, Percent	69.00%		69.00%

REVENUE ADDITIONAL DETAILS (Det

REVENUE ADDITIONAL DETAILS (Details) $ in Millions	6 Months Ended
	Jun. 30, 2018USD ($)
Revenue from Contract with Customer [Abstract]
Contract with Customer, Liability, Revenue Recognized	$ 113
Revenue, Remaining Performance Obligation	$ 2,200
Revenue Remaining Performance Obligation Percentage	86.00%
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Explanation	12 -36 months

ACQUISITIONS (Details)

ACQUISITIONS (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Dec. 31, 2017
Business Acquisition [Line Items]
Payments to Acquire Businesses, Gross	$ 212,737	$ 232,630
Goodwill	1,103,562		$ 1,096,329
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
2018 acquisitions [Member]
Business Acquisition [Line Items]
Accounts Receivable	8,143
Inventory	49,508
Property, Plant, and Equipment	3,203
Other Current and Non-current Assets	47
Intangible Assets, Other than Goodwill	141,100
Current and Non-current Liabilities	(6,734)
Due from Seller, Net	0
Net Tangible and Intangible Assets	195,267
Payments to Acquire Businesses, Gross	212,737
Goodwill	17,470
Goodwill, Expected Tax Deductible Amount	$ 17,470

ACQUISITIONS Narrative (Details

ACQUISITIONS Narrative (Details) $ in Thousands	Apr. 02, 2018	Feb. 08, 2017	Jan. 03, 2017	Jun. 30, 2018USD ($)NumberAcquisitions	Jun. 30, 2017USD ($)NumberAcquisitions
Business Acquisition [Line Items]
Number of Businesses Acquired | NumberAcquisitions				1	2
Payments to Acquire Businesses, Gross				$ 212,737	$ 232,630
Revenue of Acquiree since Acquisition Date, Actual				22,000	25,000
Earnings or Loss of Acquiree since Acquisition Date, Actual				(3,000)	(4,000)
2018 acquisitions [Member]
Business Acquisition [Line Items]
Payments to Acquire Businesses, Gross				212,737
2017 acquisitions [Member]
Business Acquisition [Line Items]
Purchase Price, Net of Cash Acquired					$ 232,630
Power [Member] | Dresser-Rand Government Business (DRG) [Member]
Business Acquisition [Line Items]
Effective Date of Acquisition	Apr. 2, 2018
Payments to Acquire Businesses, Gross				212,737
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
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, 2018	Dec. 31, 2017
Billed receivables:
Trade and other receivables	$ 389,249	$ 363,234
Less: Allowance for doubtful accounts	(9,039)	(7,486)
Net billed receivables	380,210	355,748
Unbilled receivables:
Recoverable costs and estimated earnings not billed	215,895	160,727
Less: Progress payments applied	(20,963)	(21,552)
Net unbilled receivables	194,932	139,175
Receivables, net	$ 575,142	$ 494,923

INVENTORIES (Detail)

INVENTORIES (Detail) - USD ($) $ in Thousands	Jun. 30, 2018	Dec. 31, 2017
Inventory, Net [Abstract]
Raw material	$ 213,306	$ 191,855
Work-in-process	97,420	73,937
Finished goods and component parts	152,915	114,307
Inventoried costs related to U.S. Government and other long-term contracts	51,733	65,150
Gross inventories	515,374	445,249
Less: Inventory reserves	60,383	54,638
Progress payments applied, principally related to long-term contracts	(18,741)	(11,745)
Inventories, net	$ 436,250	$ 378,866

INVENTORIES (Narrative) (Detail

INVENTORIES (Narrative) (Detail) - USD ($) $ in Millions	Jun. 30, 2018	Dec. 31, 2017
Inventory, Net [Abstract]
Other inventory, capitalized costs	$ 45.3	$ 35
Other inventory, capitalized costs to be liquidated under firm orders	$ 19.6	$ 5.4

GOODWILL (Detail)

GOODWILL (Detail) $ in Thousands	6 Months Ended
	Jun. 30, 2018USD ($)
Goodwill [Roll Forward]
December 31, 2017	$ 1,096,329
Goodwill, Acquired During Period	17,470
Foreign currency translation adjustment	(8,643)
Goodwill, Period Increase (Decrease)	(1,594)
June 30, 2018	1,103,562
Commercial Industrial [Member]
Goodwill [Roll Forward]
December 31, 2017	448,531
Foreign currency translation adjustment	(3,224)
June 30, 2018	445,307
Defense [Member]
Goodwill [Roll Forward]
December 31, 2017	460,332
Foreign currency translation adjustment	(5,283)
Goodwill, Period Increase (Decrease)	(1,594)
June 30, 2018	453,455
Power [Member]
Goodwill [Roll Forward]
December 31, 2017	187,466
Goodwill, Acquired During Period	17,470
Foreign currency translation adjustment	(136)
June 30, 2018	$ 204,800

OTHER INTANGIBLE ASSETS, NET (D

OTHER INTANGIBLE ASSETS, NET (Detail) - USD ($) $ in Thousands	Jun. 30, 2018	Dec. 31, 2017
Finite Lived Intangible Assets [Line Items]
Gross	$ 783,230	$ 651,310
Accumulated Amortization	(334,134)	(321,642)
Net	449,096	329,668
Technology [Member]
Finite Lived Intangible Assets [Line Items]
Gross	240,101	243,440
Accumulated Amortization	(118,477)	(114,036)
Net	121,624	129,404
Customer Relationships [Member]
Finite Lived Intangible Assets [Line Items]
Gross	362,015	367,230
Accumulated Amortization	(185,281)	(180,580)
Net	176,734	186,650
Contract and Program Intangible Assets [Member]
Finite Lived Intangible Assets [Line Items]
Gross	139,000
Accumulated Amortization	(1,738)
Net	137,262
Other Intangible Assets [Member]
Finite Lived Intangible Assets [Line Items]
Gross	42,114	40,640
Accumulated Amortization	(28,638)	(27,026)
Net	$ 13,476	$ 13,614

OTHER INTANGIBLE ASSETS, NET (N

OTHER INTANGIBLE ASSETS, NET (Narrative) (Detail) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017
Finite Lived Intangible Assets [Line Items]
Finite-lived Intangible Assets Acquired	$ 141.1
Amortization expense	21.1	$ 19.1
Future amortization expense in remainder of fiscal year	43.6
Future amortization expense in year two	43.5
Future amortization expense in year three	41.6
Future amortization expense in year four	39.8
Future amortization expense in year five	37.3
Contract and Program Intangible Assets [Member]
Finite Lived Intangible Assets [Line Items]
Finite-lived Intangible Assets Acquired	$ 139
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life	20 years
Customer Relationships [Member]
Finite Lived Intangible Assets [Line Items]
Finite-lived Intangible Assets Acquired	$ 1.8
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life	10 years 4 months 27 days
Other Intangible Assets [Member]
Finite Lived Intangible Assets [Line Items]
Finite-lived Intangible Assets Acquired	$ 0.3
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life	8 years

FAIR VALUE OF FINANCIAL INSTR44

FAIR VALUE OF FINANCIAL INSTRUMENTS (Debt) (Detail) - USD ($) $ in Thousands	Jun. 30, 2018	Dec. 31, 2017
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Carrying Value	$ 814,109	$ 814,139
Estimated Fair Value	815,600	836,654
Long-term Debt, Gross	800,959	800,150
Debt Issuance Costs, Net	(774)	(831)
Deferred Gain (Loss) on Discontinuation of Interest Rate Fair Value Hedge	13,924	14,820
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	$ 100,451	102,472
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	$ 224,066	228,783
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	$ 99,603	102,164
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	$ 202,779	208,873
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	$ 74,636	76,997
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	$ 99,956	103,226
Debt Instrument, Interest Rate, Stated Percentage	4.11%
Other debt [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Carrying Value	$ 959	150
Estimated Fair Value	959	150
Long-term Debt, gross [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Estimated Fair Value	$ 802,450	$ 822,665

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, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Defined Benefit Plan Disclosure [Line Items]
Service cost	$ 6,495	$ 6,474	$ 13,001	$ 12,945
Interest cost	6,521	6,236	13,055	12,455
Expected return on plan assets	(14,695)	(13,310)	(29,411)	(26,595)
Amortization of prior service cost	(62)	(26)	(125)	(51)
Amortization of unrecognized actuarial loss	3,903	3,585	7,809	7,166
Net postretirement benefit cost (income)	$ 2,162	$ 2,959	4,329	$ 5,920
Defined Benefit Plan, Plan Assets, Contributions by Employer			$ 50,000

PENSION AND OTHER POSTRETIREM46

PENSION AND OTHER POSTRETIREMENT BENEFIT PLANS (Additional) (Detail) - USD ($) $ in Millions	6 Months Ended		12 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Dec. 31, 2018
Defined Contribution Plan Disclosure [Line Items]
Defined Contribution Plan, Employer Matching Contribution, Percent of Employees' Gross Pay	6.00%
Defined Contribution Plan, Cost	$ 7.4	$ 6.8
Defined Contribution Plan, Employer Discretionary Contribution Amount	$ 10.8
Scenario, Forecast [Member]
Defined Contribution Plan Disclosure [Line Items]
Defined Contribution Plan, Employer Discretionary Contribution Amount			$ 14

EARNINGS PER SHARE (Detail)

EARNINGS PER SHARE (Detail) - shares shares in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Earnings Per Share Reconciliation [Abstract]
Basic weighted-average shares outstanding (shares)	44,124	44,213	44,144	44,221
Dilutive effect of stock options and deferred stock compensation (shares)	429	594	460	604
Diluted weighted-average shares outstanding (shares)	44,553	44,807	44,604	44,825

EARNINGS PER SHARE EARNINGS PER

EARNINGS PER SHARE EARNINGS PER SHARE (Anti-dilutive) (Details) - shares shares in Thousands	6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	0	38

SEGMENT INFORMATION (Detail)

SEGMENT INFORMATION (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017	Dec. 31, 2017
Segment Reporting Information [Line Items]
Net sales	$ 620,298	$ 567,653	$ 1,167,820	$ 1,091,244
Operating income (expense)	102,076	79,732	166,574	127,424
Identifiable assets	3,230,188		3,230,188		$ 3,236,321
Commercial Industrial [Member]
Segment Reporting Information [Line Items]
Net sales	312,605	291,856	609,358	570,912
Operating income (expense)	51,736	43,620	90,961	74,172
Identifiable assets	1,425,220		1,425,220		1,444,097
Defense [Member]
Segment Reporting Information [Line Items]
Net sales	148,085	127,399	268,968	242,236
Operating income (expense)	38,641	21,128	58,369	32,225
Identifiable assets	988,651		988,651		1,044,776
Power [Member]
Segment Reporting Information [Line Items]
Net sales	162,049	149,970	294,207	280,565
Operating income (expense)	19,201	23,875	34,543	39,420
Identifiable assets	709,066		709,066		482,753
Corporate, Non-Segment [Member]
Segment Reporting Information [Line Items]
Operating income (expense)	(7,502)	(8,891)	(17,299)	(18,393)
Identifiable assets	107,251		107,251		$ 264,695
Intersegment Eliminations [Member]
Segment Reporting Information [Line Items]
Net sales	$ (2,441)	$ (1,572)	$ (4,713)	$ (2,469)

SEGMENT INFORMATION (Reconcilia

SEGMENT INFORMATION (Reconciliation) (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Segment Reporting [Abstract]
Total operating income	$ 102,076	$ 79,732	$ 166,574	$ 127,424
Interest expense	(9,566)	(10,750)	(17,770)	(21,127)
Other income, net	3,971	3,729	8,654	7,576
Earnings before income taxes	$ 96,481	$ 72,711	$ 157,458	$ 113,873

ACCUMULATED OTHER COMPREHENSI51

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017	Dec. 31, 2017
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance			$ (216,840)	$ (291,756)	$ (291,756)
Other comprehensive income (loss) before reclassifications			(28,209)		67,111
Amounts reclassified from accumulated other comprehensive loss			5,533		7,805
Other comprehensive income (loss), net of tax	$ (40,709)	$ 34,420	(22,676)	47,595	74,916
Ending balance	(239,516)		(239,516)		(216,840)
Foreign Currency Translation Adjustments, Net [Member]
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance			(94,708)	(172,650)	(172,650)
Other comprehensive income (loss) before reclassifications			(28,360)		77,942
Amounts reclassified from accumulated other comprehensive loss			0		0
Other comprehensive income (loss), net of tax			(28,360)		77,942
Ending balance	(123,068)		(123,068)		(94,708)
Total Pension and Postretirment Adjustments, Net [Member]
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance			(122,132)	$ (119,106)	(119,106)
Other comprehensive income (loss) before reclassifications			151		(10,831)
Amounts reclassified from accumulated other comprehensive loss			5,533		7,805
Other comprehensive income (loss), net of tax			5,684		(3,026)
Ending balance	$ (116,448)		$ (116,448)		$ (122,132)

ACCUMULATED OTHER COMPREHENSI52

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) (Reclass) (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Accumulated Other Comprehensive Income (Loss) [Line Items]
Earnings from continuing operations before income taxes	$ 96,481	$ 72,711	$ 157,458	$ 113,873
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			454
Amortization of actuarial losses			(7,795)
Earnings from continuing operations before income taxes			(7,341)
Income tax			1,808
Net earnings			$ (5,533)

CONTINGENCIES AND COMMITMENTS (

CONTINGENCIES AND COMMITMENTS (Detail) - USD ($)	Jan. 04, 2018	Oct. 10, 2013	Jun. 30, 2018	Dec. 31, 2017	Mar. 29, 2017
Loss Contingencies [Line Items]
Malpractice Loss Contingency, Claims Incurred in Period			$ 400,000,000
Standby Letters Of Credit [Member]
Loss Contingencies [Line Items]
Letters of credit, outstanding			19,700,000	$ 21,300,000
FinancialStandbyLetterOfCreditMember
Loss Contingencies [Line Items]
Letters of credit, outstanding			14,000,000	$ 14,600,000
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			$ 2,900,000
Westinghouse Electric Company (WEC) [Member]
Loss Contingencies [Line Items]
Business Combination, Consideration Transferred	$ 4,600,000,000