Curtiss-Wright (CW) 10-Q 1 Aug 19 2019 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2019	Jul. 31, 2019
Cover page.
Security Exchange Name	NYSE
Title of 12(b) Security	Common Stock
Entity Interactive Data Current	Yes
City Area Code	704
Entity Address, Address Line One	130 Harbour Place Drive, Suite 300
Entity Address, City or Town	Davidson,
Entity Address, State or Province	NC
Entity Address, Postal Zip Code	28036
Entity Incorporation, State or Country Code	DE
Entity File Number	1-134
Entity Registrant Name	CURTISS WRIGHT CORP
Entity Central Index Key	0000026324
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2019
Document Transition Report	false
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	Q2
Amendment Flag	false
Entity common stock shares outstanding		42,730,098
Trading Symbol	CW
Entity Current Reporting Status	Yes
Emerging Company	false
Small Business	false
Entity Tax Identification Number	13-0612970
Local Phone Number	869-4600
Entity Shell Company	false

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF EARNINGS (UNAUDITED) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Net Sales
Net sales	$ 638,996	$ 620,298	$ 1,217,310	$ 1,167,820
Total net sales	638,996	620,298	1,217,310	1,167,820
Cost of sales
Total cost of sales	408,952	393,798	790,393	760,129
Gross profit	230,044	226,500	426,917	407,691
Research and development expenses	18,900	15,054	36,141	30,995
Selling expenses	30,693	32,665	62,170	64,185
General and administrative expenses	74,766	76,705	150,876	145,937
Operating income	105,685	102,076	177,730	166,574
Interest expense	(7,960)	(9,566)	(15,232)	(17,770)
Other income, net	5,871	3,971	11,349	8,654
Earnings from continuing operations before income taxes	103,596	96,481	173,847	157,458
Provision for income taxes	(23,524)	(21,693)	(38,182)	(39,027)
Net earnings	$ 80,072	$ 74,788	$ 135,665	$ 118,431
Basic earnings per share
Basic earnings per share (usd per share)	$ 1.87	$ 1.69	$ 3.17	$ 2.68
Diluted earnings per share
Diluted earnings per share (usd per share)	1.86	1.68	3.15	2.66
Dividends per share	$ 0.17	$ 0.15	$ 0.32	$ 0.30
Weighted average shares outstanding:
Basic (shares)	42,758	44,124	42,776	44,144
Diluted (shares)	43,024	44,553	43,038	44,604
Product [Member]
Product sales	$ 532,253	$ 511,676	$ 1,003,852	$ 956,363
Cost of sales
Cost of Goods and Services Sold	342,726	324,184	654,682	623,495
Service [Member]
Net Sales
Net sales	106,743	108,622	213,458	211,457
Cost of sales
Cost of Goods and Services Sold	$ 66,226	$ 69,614	$ 135,711	$ 136,634

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (Unaudited) - USD ($) $ in Thousands		3 Months Ended		6 Months Ended
		Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Statement of Comprehensive Income [Abstract]
Net earnings		$ 80,072	$ 74,788	$ 135,665	$ 118,431
Other comprehensive income
Foreign currency translation, net of tax	[1]	540	(43,771)	8,782	(28,360)
Pension and postretirement adjustments, net of tax	[2]	1,749	3,062	3,432	5,684
Other comprehensive income (loss), net of tax		2,289	(40,709)	12,214	(22,676)
Comprehensive income		$ 82,361	$ 34,079	$ 147,879	$ 95,755
[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.
[2]	The tax expense included in other comprehensive income for pension and postretirement adjustments for the three and six months ended June 30, 2019 was $0.6 million and $1.1 million , respectively. 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.

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Parentheticals) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Statement of Comprehensive Income [Abstract]
Other Comprehensive Income (Loss), Foreign Currency Translation Adjustment, Tax		$ (2)		$ (1.2)
Other Comprehensive (Income) Loss, Defined Benefit Plan, after Reclassification Adjustment, Tax, Attributable to Parent	$ 0.6	$ 0.9	$ 1.1	$ 1.8

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018
Current Assets:
Cash and cash equivalents	$ 216,344	$ 276,066
Receivables, net	636,058	593,755
Inventories, net	436,190	423,426
Other current assets	48,060	50,719
Total current assets	1,336,652	1,343,966
Property, plant, and equipment, net	375,582	374,660
Goodwill	1,112,781	1,088,032
Other intangible assets, net	433,517	429,567
Operating Lease, Right-of-Use Asset	135,190	0
Other assets	32,918	19,160
Total assets	3,426,640	3,255,385
Current liabilities:
Current portion of long-term debt and short-term debt	0	243
Accounts payable	173,791	232,983
Accrued expenses	138,278	166,954
Income taxes payable	8,521	5,811
Deferred revenue	243,053	236,508
Other current liabilities	74,226	44,829
Total current liabilities	637,869	687,328
Long-term debt	761,476	762,313
Deferred tax liabilities, net	49,929	47,121
Accrued pension and other postretirement benefit costs	97,334	101,227
Long-term operating lease liability	117,789	0
Long-term portion of environmental reserves	16,411	15,777
Other liabilities	93,536	110,838
Total liabilities	1,774,344	1,724,604
Stockholders' Equity
Common stock, $1 par value,100,000,000 shares authorized as of June 30, 2019 and December 31, 2018; 49,187,378 shares issued as of June 30, 2019 and December 31, 2018; outstanding shares were 42,715,831 as of June 30, 2019 and 42,772,417 as of December 31, 2018	49,187	49,187
Additional paid in capital	116,835	118,234
Retained earnings	2,339,703	2,191,471
Accumulated other comprehensive loss	(302,490)	(288,447)
Common treasury stock, at cost (6,471,547 shares as of June 30, 2019 and 6,414,961 shares as of December 31, 2018)	(550,939)	(539,664)
Total stockholders' equity	1,652,296	1,530,781
Total liabilities and stockholders' equity	$ 3,426,640	$ 3,255,385

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Jun. 30, 2019	Dec. 31, 2018
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	42,715,831	42,772,417
Treasury Stock, Shares	6,471,547	6,414,961

CONDENSED CONSOLIDATED STATEM_4

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018
Cash flows from operating activities:
Net earnings	$ 135,665	$ 118,431
Adjustments to reconcile net earnings to net cash provided by operating activities
Depreciation and amortization	51,600	51,257
Gain (Loss) on Disposition of Business	0	(2,149)
Gain on fixed asset disposals	(6,080)	(897)
Deferred income taxes	1,450	5,554
Share-based compensation	6,980	7,801
Change in operating assets and liabilities, net of businesses acquired and divested:
Accounts receivable, net	(37,621)	(57,522)
Inventories, net	(11,080)	(43,625)
Progress payments	(356)	6,718
Accounts payable and accrued expenses	(87,430)	(38,621)
Deferred revenue	5,278	17,865
Income taxes payable	2,872	(7,712)
Net pension and postretirement liabilities	311	(48,265)
Other current and long-term assets and liabilities	(21,203)	17,850
Net cash provided by operating activities	40,386	26,685
Cash flows from investing activities:
Proceeds from sales and disposals of long lived assets	8,920	4,328
Proceeds from Divestiture of Businesses		(268)
Payments to Acquire Intangible Assets	(147)	(1,500)
Additions to property, plant, and equipment	(33,471)	(19,852)
Acquisition of businesses, net of cash acquired	(50,075)	(212,737)
Payments for (Proceeds from) Previous Acquisition		(460)
Net cash used for investing activities	(74,773)	(230,489)
Cash flows from financing activities:
Borrowings under revolving credit facility	7,318	367,762
Payment of revolving credit facility	(7,561)	(366,953)
Repurchases of common stock	(25,065)	(46,115)
Proceeds from share-based compensation	5,411	6,360
Dividends paid	(6,420)	(6,623)
Proceeds from (Payments for) Other Financing Activities	(395)	(365)
Net cash used for financing activities	(26,712)	(45,934)
Effect of exchange-rate changes on cash	1,377	(6,484)
Net decrease in cash and cash equivalents	(59,722)	(256,222)
Cash and cash equivalents at beginning of period	276,066	475,120
Cash and cash equivalents at end of period	216,344	218,898
Supplemental disclosure of non-cash activities:
Capital expenditures incurred but not yet paid	$ 85	$ 425

CONDENSED CONSOLIDATED STATEM_5

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
Accumulated other comprehensive loss	$ (216,840)
Beginning Balance at Dec. 31, 2017		$ 49,187	$ 120,609	$ 1,944,324	$ (216,840)	$ (369,480)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net earnings	118,431
Other Comprehensive Income (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		49,187	119,025	2,047,250	(239,516)	(399,850)
Beginning Balance at Dec. 31, 2017		49,187	120,609	1,944,324	(216,840)	(369,480)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net earnings				118,431
Other Comprehensive Income (Loss), Net of Tax	(71,607)
Ending Balance at Dec. 31, 2018	1,530,781	49,187	118,234	2,191,471	(288,447)	(539,664)
Beginning Balance at Mar. 31, 2018		49,187	116,221	1,979,051	(198,807)	(366,677)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net earnings	74,788			74,788
Other Comprehensive Income (Loss), Net of Tax	(40,709)				(40,709)
Dividends paid/declared				(6,589)
Restricted stock			(95)			95
Stock options exercised			(298)			507
Share-based compensation			3,197			12
Repurchases of common stock						(33,787)
Ending Balance at Jun. 30, 2018		49,187	119,025	2,047,250	(239,516)	(399,850)
Cumulative Effect of New Accounting Principle in Period of Adoption | Accounting Standards Update 2014-09 [Member]				(2,274)
Accumulated other comprehensive loss	(288,447)
Beginning Balance at Dec. 31, 2018	1,530,781	49,187	118,234	2,191,471	(288,447)	(539,664)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net earnings	135,665			135,665
Other Comprehensive Income (Loss), Net of Tax	12,214				12,214
Dividends paid/declared				(13,690)
Restricted stock			(5,491)			5,491
Stock options exercised			(1,822)			7,233
Other			(661)			661
Share-based compensation			6,575			405
Repurchases of common stock						(25,065)
Ending Balance at Jun. 30, 2019	1,652,296	49,187	116,835	2,339,703	(302,490)	(550,939)
Beginning Balance at Mar. 31, 2019		49,187	114,696	2,266,902	(304,779)	(540,426)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net earnings	80,072			80,072
Other Comprehensive Income (Loss), Net of Tax	2,289				2,289
Dividends paid/declared				(7,271)
Stock options exercised			(1,303)			2,038
Share-based compensation			3,442			43
Repurchases of common stock						(12,594)
Ending Balance at Jun. 30, 2019	1,652,296	$ 49,187	$ 116,835	$ 2,339,703	$ (302,490)	$ (550,939)
Accumulated other comprehensive loss	$ (302,490)

BASIS OF PRESENTATION

BASIS OF PRESENTATION	6 Months Ended
	Jun. 30, 2019
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 using the over-time revenue recognition accounting method, 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, fair value estimates around assets and assumed liabilities from acquisitions, 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, 2019 and 2018 , 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 2018 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 2016-02 - Leases - On January 1, 2019, the Corporation adopted ASC 842, Leases, using the optional transition method of adoption which permits the entity to continue presenting all periods prior to January 1, 2019 under previous lease accounting guidance. In conjunction with the adoption, the Corporation elected the package of practical expedients which permits the entity to forgo reassessment of conclusions reached regarding lease existence and lease classification under previous guidance, as well as the practical expedient to not separate non-lease components. Further, the Corporation made an accounting policy election to account for short-term leases in a manner consistent with the methodology applied under previous guidance. The adoption of this standard resulted in an increase of approximately $151 million in both total assets and total liabilities in the Corporation’s Condensed Consolidated Balance Sheet as of January 1, 2019. ASU 2018-02 - Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income - On January 1, 2019, the Corporation adopted ASU 2018-02, Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income , which 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 adoption of this standard resulted in a reclassification of $26 million

REVENUE (Notes)

REVENUE (Notes)	6 Months Ended
	Jun. 30, 2019
Revenue from Contract with Customer [Abstract]
Revenue from Contract with Customer [Text Block]	2 . REVENUE The Corporation recognizes revenue when control of a promised good and/or service is transferred to a customer in an amount that reflects the consideration that the Corporation expects to be entitled to in exchange for that good and/or service. Performance Obligations The Corporation identifies a performance obligation for each promise in a contract to transfer a distinct good or service to the customer. As part of its assessment, the Corporation considers all goods and/or services promised in the contract, regardless of whether they are explicitly stated or implied by customary business practices. The Corporation’s contracts may contain either a single performance obligation, including the promise to transfer individual goods or services that are not separately distinct within the context of the respective contracts, or multiple performance obligations. For contracts with multiple performance obligations, the Corporation allocates the overall transaction price to each performance obligation using standalone selling prices, where available, or utilizes estimates for each distinct good or service in the contract where standalone prices are not available. The Corporation’s performance obligations are satisfied either at a point-in-time or on an over-time basis. Revenue recognized on an over-time basis for both the three months and six months ended June 30, 2019 accounted for approximately 48% of total net sales. Revenue recognized on an over-time basis for both the three months and six months ended June 30, 2018 accounted for approximately 45% of total net sales. Typically, over-time revenue recognition is based on the utilization of an input measure used to measure progress, such as costs incurred to date relative to total estimated costs. Revenue recognized at a point-in-time for both the three months and six months ended June 30, 2019 accounted for approximately 52% of total net sales. Revenue recognized at a point-in-time for both the three months and six months ended June 30, 2018 accounted for approximately 55% of total net sales. Revenue for these types of arrangements is recognized at the point in time in which control is transferred to the customer, typically based upon the terms of delivery. Contract backlog represents the remaining performance obligations that have not yet been recognized as revenue. Backlog includes deferred revenue and amounts that will be invoiced and recognized as revenue in future periods. Total backlog was approximately $2.2 billion as of June 30, 2019 , of which the Corporation expects to recognize approximately 90% as net sales over the next 12 -36 months . The remainder will be recognized thereafter. Disaggregation of Revenue The following table presents the Corporation’s total net sales disaggregated by end market and customer type: Total Net Sales by End Market and Customer Type Three Months Ended Six Months Ended June 30, June 30, (In thousands) 2019 2018 2019 2018 Defense Aerospace $ 104,426 $ 99,654 $ 183,213 $ 178,808 Ground 26,394 20,777 47,151 43,296 Naval 149,853 132,347 280,941 235,835 Total Defense Customers $ 280,673 $ 252,778 $ 511,305 $ 457,939 Commercial Aerospace $ 108,000 $ 104,617 $ 211,222 $ 204,021 Power Generation 93,171 102,316 189,652 200,635 General Industrial 157,152 160,587 305,131 305,225 Total Commercial Customers $ 358,323 $ 367,520 $ 706,005 $ 709,881 Total $ 638,996 $ 620,298 $ 1,217,310 $ 1,167,820 Note: Certain amounts in the prior year have been reclassed to conform to the current year presentation. Contract Balances Timing of revenue recognition and cash collection may result in billed receivables, unbilled receivables (contract assets), and deferred revenue (contract liabilities) on the Condensed Consolidated Balance Sheet. The Corporation’s contract assets primarily relate to its rights to consideration for work completed but not billed as of the reporting date. Contract assets are transferred to billed receivables when the rights to consideration become unconditional. This is typical in situations where amounts are billed as work progresses in accordance with agreed-upon contractual terms or upon achievement of contractual milestones. The Corporation’s contract liabilities primarily consist of customer advances received prior to revenue being earned. Revenue recognized during the six months ended June 30, 2019 and 2018 included in the contract liabilities balance at the beginning of the year was approximately $133 million and $113 million , respectively. Contract assets and contract liabilities are reported in the "Receivables, net" and "Deferred revenue" lines, respectively, within the Condensed Consolidated Balance Sheet.

ACQUISITIONS

ACQUISITIONS	6 Months Ended
	Jun. 30, 2019
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, 2019 , the Corporation acquired one business for an aggregate purchase price of $50 million , which is described in more detail below. 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. The Condensed Consolidated Statement of Earnings for the six months ended June 30, 2019 includes $4 million of total net sales and $1 million of net losses from the Corporation's 2019 acquisition. 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 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, 2019 and 2018 . (In thousands) 2019 2018 Accounts receivable $ 2,300 $ 8,143 Inventory 322 49,508 Property, plant, and equipment 648 3,203 Other current and non-current assets 479 47 Intangible assets 26,000 141,100 Operating lease right-of-use assets, net 1,393 — Current and non-current liabilities (3,252 ) (6,734 ) Net tangible and intangible assets 27,890 195,267 Purchase price, net of cash acquired 50,075 212,737 Goodwill $ 22,185 $ 17,470 Goodwill deductible for tax purposes $ 22,185 $ 17,470 2019 Acquisition Tactical Communications Group (TCG) On March 15, 2019 , the Corporation acquired 100% of the membership interest of TCG for $50.1 million , net of cash acquired. The 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. TCG is a designer and manufacturer of tactical data link software solutions for critical military communications systems. The acquired business operates within the Defense segment. The acquisition is subject to post-closing adjustments with the purchase price allocation not yet complete. 2018 Acquisition Dresser-Rand Government Business (DRG) On April 2, 2018 , the Corporation acquired certain assets and assumed certain liabilities of DRG for $212.7 million

RECEIVABLES

RECEIVABLES	6 Months Ended
	Jun. 30, 2019
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, 2019 December 31, 2018 Billed receivables: Trade and other receivables $ 415,774 $ 390,306 Less: Allowance for doubtful accounts (9,003 ) (7,436 ) Net billed receivables 406,771 382,870 Unbilled receivables (Contract Assets): Recoverable costs and estimated earnings not billed 243,403 225,810 Less: Progress payments applied (14,116 ) (14,925 ) Net unbilled receivables 229,287 210,885 Receivables, net $ 636,058 $ 593,755

INVENTORIES

INVENTORIES	6 Months Ended
	Jun. 30, 2019
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, 2019 December 31, 2018 Raw materials $ 191,678 $ 214,442 Work-in-process 91,848 74,536 Finished goods 143,360 143,016 Inventoried costs related to U.S. Government and other long-term contracts 70,684 54,195 Gross inventories 497,570 486,189 Less: Inventory reserves (53,808 ) (55,776 ) Progress payments applied (7,572 ) (6,987 ) Inventories, net $ 436,190 $ 423,426 Inventoried costs related to long-term contracts include capitalized contract development costs related to certain aerospace and defense programs of $43.6 million and $44.4 million as of June 30, 2019 and December 31, 2018 , respectively. These capitalized costs will be liquidated as units are produced. As of June 30, 2019 and December 31, 2018 , $32.5 million and $18.7 million , respectively, are scheduled to be liquidated under existing firm orders.

GOODWILL

GOODWILL	6 Months Ended
	Jun. 30, 2019
Goodwill [Abstract]
GOODWILL	GOODWILL The changes in the carrying amount of goodwill for the six months ended June 30, 2019 are as follows: (In thousands) Commercial/Industrial Defense Power Consolidated December 31, 2018 $ 442,015 $ 448,871 $ 197,146 $ 1,088,032 Acquisitions — 22,185 — 22,185 Adjustments — (208 ) — (208 ) Foreign currency translation adjustment 155 2,489 128 2,772 June 30, 2019 $ 442,170 $ 473,337 $ 197,274 $ 1,112,781

OTHER INTANGIBLE ASSETS, NET

OTHER INTANGIBLE ASSETS, NET	6 Months Ended
	Jun. 30, 2019
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, 2019 December 31, 2018 (In thousands) Gross Accumulated Amortization Net Gross Accumulated Amortization Net Technology $ 245,480 $ (133,102 ) $ 112,378 $ 238,212 $ (123,156 ) $ 115,056 Customer related intangibles 378,846 (204,767 ) 174,079 358,832 (193,455 ) 165,377 Programs (1) 144,000 (9,000 ) 135,000 144,000 (5,400 ) 138,600 Other intangible assets 41,123 (29,063 ) 12,060 40,340 (29,806 ) 10,534 Total $ 809,449 $ (375,932 ) $ 433,517 $ 781,384 $ (351,817 ) $ 429,567 (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, 2019 , the Corporation acquired intangible assets of $ 26.0 million . The Corporation acquired Customer-related intangibles of $ 18.9 million , Technology of $ 6.3 million , and Other intangible assets of $ 0.8 million , which have a weighted average amortization period of 14.6 years, 15.0 years, and 8.0 years, respectively. Total intangible amortization expense for the six months ended June 30, 2019 was $22.6 million as compared to $21.1 million in the comparable prior year period. The estimated amortization expense for the five years ending December 31, 2019 through 2023 is $45.2 million , $43.4 million , $41.5 million , $39.0 million , and $35.3 million , respectively.

LEASES LEASES

LEASES LEASES	6 Months Ended
	Jun. 30, 2019
Leases [Abstract]
LEASES	8 . LEASES The Corporation conducts a portion of its operations from leased facilities, which include manufacturing and service facilities, administrative offices, and warehouses. In addition, the Corporation leases vehicles, machinery, and office equipment under operating leases. Our leases have remaining lease terms of 1 year to 25 years, some of which include options for renewals, escalations, or terminations. The components of lease expense were as follows: Three Months Ended Six Months Ended (In thousands) June 30, 2019 June 30, 2019 Operating lease cost $ 7,146 $ 15,358 Finance lease cost: Amortization of right-of-use assets $ 199 $ 396 Interest on lease liabilities 125 253 Total finance lease cost $ 324 $ 649 Supplemental cash flow information related to leases was as follows: Six Months Ended (In thousands) June 30, 2019 Cash used for operating activities: Operating cash flows from operating leases $ (15,207 ) Operating cash flows from finance leases (253 ) Non-cash activity: Right-of-use assets obtained in exchange for operating lease obligations $ 1,711 Supplemental balance sheet information related to leases was as follows: (In thousands, except lease term and discount rate) As of June 30, 2019 Operating Leases Operating lease right-of-use assets, net $ 135,190 Other current liabilities $ 23,328 Long-term operating lease liability 117,789 Total operating lease liabilities $ 141,117 Finance Leases Property, plant, and equipment $ 15,561 Accumulated depreciation (5,014 ) Property, plant, and equipment, net $ 10,547 Other current liabilities $ 777 Other liabilities 11,431 Total finance lease liabilities $ 12,208 Weighted average remaining lease term Operating leases 8.1 years Finance leases 10.2 years Weighted average discount rate Operating leases 3.85 % Finance leases 4.05 % Maturities of lease liabilities were as follows: As of June 30, 2019 (In thousands) Operating Leases Finance Leases 2019 $ 14,448 $ 660 2020 27,560 1,342 2021 24,553 1,375 2022 18,358 1,410 2023 16,527 1,445 Thereafter 64,403 8,892 Total lease payments $ 165,849 $ 15,124 Less: imputed interest (24,732 ) (2,916 ) Total $ 141,117 $ 12,208 In November 2018, the Corporation entered into a build-to-suit lease of approximately $27 million for the construction of a new facility for DRG in Charleston, South Carolina. The lease has not been reflected in the Corporation’s condensed consolidated financial statements as of June 30, 2019 as the Corporation has not yet obtained the right to control the use of the facility.

FAIR VALUE OF FINANCIAL INSTRUM

FAIR VALUE OF FINANCIAL INSTRUMENTS	6 Months Ended
	Jun. 30, 2019
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 Condensed Consolidated Balance Sheets As of June 30, 2019 and December 31, 2018 , the fair values of the asset and liability derivative instruments were immaterial. Effects on Condensed Consolidated Statements of Earnings Undesignated hedges The location and amount of gains or (losses) recognized in income on forward exchange derivative contracts not designated for hedge accounting for the three and six months ended June 30, were as follows: Three Months Ended Six Months Ended (In thousands) June 30, June 30, Derivatives not designated as hedging instrument 2019 2018 2019 2018 Forward exchange contracts: General and administrative expenses $ (2,158 ) $ (2,871 ) $ 1,431 $ (2,518 ) 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, 2019 . Accordingly, all of the Corporation’s debt is valued as a Level 2 financial instrument. 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, 2019 December 31, 2018 (In thousands) Carrying Value Estimated Fair Value Carrying Value Estimated Fair Value 3.84% Senior notes due 2021 100,000 101,995 100,000 100,359 3.70% Senior notes due 2023 202,500 207,217 202,500 201,813 3.85% Senior notes due 2025 90,000 93,385 90,000 89,711 4.24% Senior notes due 2026 200,000 212,152 200,000 202,288 4.05% Senior notes due 2028 67,500 70,686 67,500 66,942 4.11% Senior notes due 2028 90,000 94,742 90,000 89,647 Other debt — — 243 243 Total debt 750,000 780,177 750,243 751,003 Debt issuance costs, net (654 ) (654 ) (714 ) (714 ) Unamortized interest rate swap proceeds 12,130 12,130 13,027 13,027 Total debt, net $ 761,476 $ 791,653 $ 762,556 $ 763,316

PENSION AND OTHER POSTRETIREMEN

PENSION AND OTHER POSTRETIREMENT BENEFIT PLANS	6 Months Ended
	Jun. 30, 2019
Retirement Benefits, Description [Abstract]
PENSION AND OTHER POSTRETIREMENT BENEFIT PLANS	PENSION PLANS Defined Benefit Pension Plans The following table is a consolidated disclosure of all domestic and foreign defined pension plans as described in the Corporation’s 2018 Annual Report on Form 10-K. The components of net periodic pension cost for the three and six months ended June 30, 2019 and 2018 were as follows: Three Months Ended Six Months Ended June 30, June 30, (In thousands) 2019 2018 2019 2018 Service cost $ 5,825 $ 6,495 $ 11,651 $ 13,001 Interest cost 7,371 6,521 14,743 13,055 Expected return on plan assets (14,882 ) (14,695 ) (29,766 ) (29,411 ) Amortization of prior service cost (70 ) (62 ) (141 ) (125 ) Amortization of unrecognized actuarial loss 2,592 3,903 5,184 7,809 Net periodic pension cost $ 836 $ 2,162 $ 1,671 $ 4,329 The Corporation does not expect to make any contributions to the Curtiss-Wright Pension Plan in 2019 . Contributions to the foreign benefit plans are not expected to be material in 2019 . During the six months ended June 30, 2018 , the Corporation made a $50 million voluntary contribution to the Curtiss-Wright Pension Plan. 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. Effective January 1, 2019, the Corporation increased the employer match opportunity, raising the maximum employer contribution from 6% to 7% of eligible compensation. During the three and six months ended June 30, 2019 , the expense relating to the plan was $4.2 million and $9.6 million , respectively. During the three and six months ended June 30, 2018 , the expense relating to the plan was $3.2 million and $7.4 million , respectively. The Corporation made $13.1 million in contributions to the plan during the six months ended June 30, 2019 , and expects to make total contributions of $15.1 million in 2019 .

EARNINGS PER SHARE

EARNINGS PER SHARE	6 Months Ended
	Jun. 30, 2019
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 June 30, June 30, (In thousands) 2019 2018 2019 2018 Basic weighted-average shares outstanding 42,758 44,124 42,776 44,144 Dilutive effect of stock options and deferred stock compensation 266 429 262 460 Diluted weighted-average shares outstanding 43,024 44,553 43,038 44,604 For the three and six months ended June 30, 2019 and 2018 , there were no

SEGMENT INFORMATION

SEGMENT INFORMATION	6 Months Ended
	Jun. 30, 2019
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 June 30, June 30, (In thousands) 2019 2018 2019 2018 Net sales Commercial/Industrial $ 318,572 $ 312,605 $ 612,322 $ 609,358 Defense 145,571 148,085 267,068 268,968 Power 176,582 162,049 340,729 294,207 Less: Intersegment revenues (1,729 ) (2,441 ) (2,809 ) (4,713 ) Total consolidated $ 638,996 $ 620,298 $ 1,217,310 $ 1,167,820 Operating income (expense) Commercial/Industrial $ 56,236 $ 51,736 $ 95,682 $ 90,961 Defense 29,661 38,641 47,314 58,369 Power 30,069 19,201 54,288 34,543 Corporate and eliminations (1) (10,281 ) (7,502 ) (19,554 ) (17,299 ) Total consolidated $ 105,685 $ 102,076 $ 177,730 $ 166,574 (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 June 30, June 30, (In thousands) 2019 2018 2019 2018 Total operating income $ 105,685 $ 102,076 $ 177,730 $ 166,574 Interest expense 7,960 9,566 15,232 17,770 Other income, net 5,871 3,971 11,349 8,654 Earnings before income taxes $ 103,596 $ 96,481 $ 173,847 $ 157,458 (In thousands) June 30, 2019 December 31, 2018 Identifiable assets Commercial/Industrial $ 1,467,700 $ 1,398,601 Defense 1,068,806 961,298 Power 771,379 720,073 Corporate and Other 118,755 175,413 Total consolidated $ 3,426,640 $ 3,255,385

ACCUMULATED OTHER COMPREHENSIVE

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)	6 Months Ended
	Jun. 30, 2019
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, 2017 $ (94,708 ) $ (122,132 ) $ (216,840 ) Other comprehensive income (loss) before reclassifications (1) (52,440 ) (31,380 ) (83,820 ) Amounts reclassified from accumulated other comprehensive loss (1) — 12,213 12,213 Net current period other comprehensive loss (52,440 ) (19,167 ) (71,607 ) December 31, 2018 $ (147,148 ) $ (141,299 ) $ (288,447 ) Other comprehensive income (loss) before reclassifications (1) 8,782 (55 ) 8,727 Amounts reclassified from accumulated other comprehensive income (loss) (1) — 3,487 3,487 Net current period other comprehensive income 8,782 3,432 12,214 Cumulative effect from adoption of ASU 2018-02 (2) (1,318 ) (24,939 ) (26,257 ) June 30, 2019 $ (139,684 ) $ (162,806 ) $ (302,490 ) (1) All amounts are after tax. (2) Reclassification to retained earnings due to adoption of ASU No. 2018-02, Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income . See Note 1 for additional information. 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 470 (1) Amortization of actuarial losses (5,092 ) (1) (4,622 ) Total before tax 1,135 Income tax Total reclassifications $ (3,487 ) Net of tax (1) These items are included in the computation of net periodic pension cost. See Note 10 , Pension Plans .

CONTINGENCIES AND COMMITMENTS

CONTINGENCIES AND COMMITMENTS	6 Months Ended
	Jun. 30, 2019
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 as well as its acquired businesses’ operations and the relatively non-friable condition of asbestos in its historical 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 and indemnification agreements 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. All parties have agreed in principle to participate in a formal mediation in late 2019 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. 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, 2019 and December 31, 2018 , there were $29.8 million and $21.7 million of stand-by letters of credit outstanding, respectively, and $10.9 million and $11.7 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 $45.6 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, 2019 , 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, 2019 . As of June 30, 2019 , 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, 2019
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 using the over-time revenue recognition accounting method, 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, fair value estimates around assets and assumed liabilities from acquisitions, 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, 2019 and 2018 , 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 2018 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 2016-02 - Leases - On January 1, 2019, the Corporation adopted ASC 842, Leases, using the optional transition method of adoption which permits the entity to continue presenting all periods prior to January 1, 2019 under previous lease accounting guidance. In conjunction with the adoption, the Corporation elected the package of practical expedients which permits the entity to forgo reassessment of conclusions reached regarding lease existence and lease classification under previous guidance, as well as the practical expedient to not separate non-lease components. Further, the Corporation made an accounting policy election to account for short-term leases in a manner consistent with the methodology applied under previous guidance. The adoption of this standard resulted in an increase of approximately $151 million in both total assets and total liabilities in the Corporation’s Condensed Consolidated Balance Sheet as of January 1, 2019. ASU 2018-02 - Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income - On January 1, 2019, the Corporation adopted ASU 2018-02, Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income , which 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 adoption of this standard resulted in a reclassification of $26 million

BASIS OF PRESENTATION Tables (T

BASIS OF PRESENTATION Tables (Tables)	6 Months Ended
	Jun. 30, 2019
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

ACQUISITIONS (Tables)

ACQUISITIONS (Tables)	6 Months Ended
	Jun. 30, 2019
Business Combinations [Abstract]
Schedule of Business Acquisitions, by Acquisition [Table Text Block]	(In thousands) 2019 2018 Accounts receivable $ 2,300 $ 8,143 Inventory 322 49,508 Property, plant, and equipment 648 3,203 Other current and non-current assets 479 47 Intangible assets 26,000 141,100 Operating lease right-of-use assets, net 1,393 — Current and non-current liabilities (3,252 ) (6,734 ) Net tangible and intangible assets 27,890 195,267 Purchase price, net of cash acquired 50,075 212,737 Goodwill $ 22,185 $ 17,470 Goodwill deductible for tax purposes $ 22,185 $ 17,470

RECEIVABLES (Table)

RECEIVABLES (Table)	6 Months Ended
	Jun. 30, 2019
Receivables [Abstract]
Schedule Of Accounts Notes Loans And Financing Receivable	The composition of receivables is as follows: (In thousands) June 30, 2019 December 31, 2018 Billed receivables: Trade and other receivables $ 415,774 $ 390,306 Less: Allowance for doubtful accounts (9,003 ) (7,436 ) Net billed receivables 406,771 382,870 Unbilled receivables (Contract Assets): Recoverable costs and estimated earnings not billed 243,403 225,810 Less: Progress payments applied (14,116 ) (14,925 ) Net unbilled receivables 229,287 210,885 Receivables, net $ 636,058 $ 593,755

INVENTORIES (Table)

INVENTORIES (Table)	6 Months Ended
	Jun. 30, 2019
Inventory, Net [Abstract]
Schedule Of Inventory	(In thousands) June 30, 2019 December 31, 2018 Raw materials $ 191,678 $ 214,442 Work-in-process 91,848 74,536 Finished goods 143,360 143,016 Inventoried costs related to U.S. Government and other long-term contracts 70,684 54,195 Gross inventories 497,570 486,189 Less: Inventory reserves (53,808 ) (55,776 ) Progress payments applied (7,572 ) (6,987 ) Inventories, net $ 436,190 $ 423,426

GOODWILL (Table)

GOODWILL (Table)	6 Months Ended
	Jun. 30, 2019
Goodwill [Abstract]
Schedule Of Goodwill	The changes in the carrying amount of goodwill for the six months ended June 30, 2019 are as follows: (In thousands) Commercial/Industrial Defense Power Consolidated December 31, 2018 $ 442,015 $ 448,871 $ 197,146 $ 1,088,032 Acquisitions — 22,185 — 22,185 Adjustments — (208 ) — (208 ) Foreign currency translation adjustment 155 2,489 128 2,772 June 30, 2019 $ 442,170 $ 473,337 $ 197,274 $ 1,112,781

OTHER INTANGIBLE ASSETS, NET (T

OTHER INTANGIBLE ASSETS, NET (Table)	6 Months Ended
	Jun. 30, 2019
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, 2019 December 31, 2018 (In thousands) Gross Accumulated Amortization Net Gross Accumulated Amortization Net Technology $ 245,480 $ (133,102 ) $ 112,378 $ 238,212 $ (123,156 ) $ 115,056 Customer related intangibles 378,846 (204,767 ) 174,079 358,832 (193,455 ) 165,377 Programs (1) 144,000 (9,000 ) 135,000 144,000 (5,400 ) 138,600 Other intangible assets 41,123 (29,063 ) 12,060 40,340 (29,806 ) 10,534 Total $ 809,449 $ (375,932 ) $ 433,517 $ 781,384 $ (351,817 ) $ 429,567

LEASES LEASES (Tables)

LEASES LEASES (Tables)	6 Months Ended
	Jun. 30, 2019
Leases [Abstract]
Lease, Cost	The components of lease expense were as follows: Three Months Ended Six Months Ended (In thousands) June 30, 2019 June 30, 2019 Operating lease cost $ 7,146 $ 15,358 Finance lease cost: Amortization of right-of-use assets $ 199 $ 396 Interest on lease liabilities 125 253 Total finance lease cost $ 324 $ 649 Supplemental cash flow information related to leases was as follows: Six Months Ended (In thousands) June 30, 2019 Cash used for operating activities: Operating cash flows from operating leases $ (15,207 ) Operating cash flows from finance leases (253 ) Non-cash activity: Right-of-use assets obtained in exchange for operating lease obligations $ 1,711
Assets And Liabilities, Lessee	Supplemental balance sheet information related to leases was as follows: (In thousands, except lease term and discount rate) As of June 30, 2019 Operating Leases Operating lease right-of-use assets, net $ 135,190 Other current liabilities $ 23,328 Long-term operating lease liability 117,789 Total operating lease liabilities $ 141,117 Finance Leases Property, plant, and equipment $ 15,561 Accumulated depreciation (5,014 ) Property, plant, and equipment, net $ 10,547 Other current liabilities $ 777 Other liabilities 11,431 Total finance lease liabilities $ 12,208 Weighted average remaining lease term Operating leases 8.1 years Finance leases 10.2 years Weighted average discount rate Operating leases 3.85 % Finance leases 4.05 %
Lessee, Operating Lease, Liability, Maturity	Maturities of lease liabilities were as follows: As of June 30, 2019 (In thousands) Operating Leases Finance Leases 2019 $ 14,448 $ 660 2020 27,560 1,342 2021 24,553 1,375 2022 18,358 1,410 2023 16,527 1,445 Thereafter 64,403 8,892 Total lease payments $ 165,849 $ 15,124 Less: imputed interest (24,732 ) (2,916 ) Total $ 141,117 $ 12,208
Finance Lease, Liability, Maturity	Maturities of lease liabilities were as follows: As of June 30, 2019 (In thousands) Operating Leases Finance Leases 2019 $ 14,448 $ 660 2020 27,560 1,342 2021 24,553 1,375 2022 18,358 1,410 2023 16,527 1,445 Thereafter 64,403 8,892 Total lease payments $ 165,849 $ 15,124 Less: imputed interest (24,732 ) (2,916 ) Total $ 141,117 $ 12,208

FAIR VALUE OF FINANCIAL INSTR_2

FAIR VALUE OF FINANCIAL INSTRUMENTS (Table)	6 Months Ended
	Jun. 30, 2019
Fair Value Disclosures [Abstract]
Derivatives Not Designated as Hedging Instruments [Table Text Block]	Undesignated hedges The location and amount of gains or (losses) recognized in income on forward exchange derivative contracts not designated for hedge accounting for the three and six months ended June 30, were as follows: Three Months Ended Six Months Ended (In thousands) June 30, June 30, Derivatives not designated as hedging instrument 2019 2018 2019 2018 Forward exchange contracts: General and administrative expenses $ (2,158 ) $ (2,871 ) $ 1,431 $ (2,518 )
Schedule of Carrying Values and Estimated Fair Values of Debt Instruments [Table Text Block]	June 30, 2019 December 31, 2018 (In thousands) Carrying Value Estimated Fair Value Carrying Value Estimated Fair Value 3.84% Senior notes due 2021 100,000 101,995 100,000 100,359 3.70% Senior notes due 2023 202,500 207,217 202,500 201,813 3.85% Senior notes due 2025 90,000 93,385 90,000 89,711 4.24% Senior notes due 2026 200,000 212,152 200,000 202,288 4.05% Senior notes due 2028 67,500 70,686 67,500 66,942 4.11% Senior notes due 2028 90,000 94,742 90,000 89,647 Other debt — — 243 243 Total debt 750,000 780,177 750,243 751,003 Debt issuance costs, net (654 ) (654 ) (714 ) (714 ) Unamortized interest rate swap proceeds 12,130 12,130 13,027 13,027 Total debt, net $ 761,476 $ 791,653 $ 762,556 $ 763,316

PENSION AND OTHER POSTRETIREM_2

PENSION AND OTHER POSTRETIREMENT BENEFIT PLANS (Table)	6 Months Ended
	Jun. 30, 2019
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, 2019 and 2018 were as follows: Three Months Ended Six Months Ended June 30, June 30, (In thousands) 2019 2018 2019 2018 Service cost $ 5,825 $ 6,495 $ 11,651 $ 13,001 Interest cost 7,371 6,521 14,743 13,055 Expected return on plan assets (14,882 ) (14,695 ) (29,766 ) (29,411 ) Amortization of prior service cost (70 ) (62 ) (141 ) (125 ) Amortization of unrecognized actuarial loss 2,592 3,903 5,184 7,809 Net periodic pension cost $ 836 $ 2,162 $ 1,671 $ 4,329

EARNINGS PER SHARE (Table)

EARNINGS PER SHARE (Table)	6 Months Ended
	Jun. 30, 2019
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 June 30, June 30, (In thousands) 2019 2018 2019 2018 Basic weighted-average shares outstanding 42,758 44,124 42,776 44,144 Dilutive effect of stock options and deferred stock compensation 266 429 262 460 Diluted weighted-average shares outstanding 43,024 44,553 43,038 44,604

SEGMENT INFORMATION (Table)

SEGMENT INFORMATION (Table)	6 Months Ended
	Jun. 30, 2019
Segment Reporting [Abstract]
Schedule Of Segment Reporting Information By Segment	Three Months Ended Six Months Ended June 30, June 30, (In thousands) 2019 2018 2019 2018 Net sales Commercial/Industrial $ 318,572 $ 312,605 $ 612,322 $ 609,358 Defense 145,571 148,085 267,068 268,968 Power 176,582 162,049 340,729 294,207 Less: Intersegment revenues (1,729 ) (2,441 ) (2,809 ) (4,713 ) Total consolidated $ 638,996 $ 620,298 $ 1,217,310 $ 1,167,820 Operating income (expense) Commercial/Industrial $ 56,236 $ 51,736 $ 95,682 $ 90,961 Defense 29,661 38,641 47,314 58,369 Power 30,069 19,201 54,288 34,543 Corporate and eliminations (1) (10,281 ) (7,502 ) (19,554 ) (17,299 ) Total consolidated $ 105,685 $ 102,076 $ 177,730 $ 166,574 (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 June 30, June 30, (In thousands) 2019 2018 2019 2018 Total operating income $ 105,685 $ 102,076 $ 177,730 $ 166,574 Interest expense 7,960 9,566 15,232 17,770 Other income, net 5,871 3,971 11,349 8,654 Earnings before income taxes $ 103,596 $ 96,481 $ 173,847 $ 157,458
Reconciliation Of Assets From Segment To Consolidated	(In thousands) June 30, 2019 December 31, 2018 Identifiable assets Commercial/Industrial $ 1,467,700 $ 1,398,601 Defense 1,068,806 961,298 Power 771,379 720,073 Corporate and Other 118,755 175,413 Total consolidated $ 3,426,640 $ 3,255,385

ACCUMULATED OTHER COMPREHENSI_2

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) (Table)	6 Months Ended
	Jun. 30, 2019
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, 2017 $ (94,708 ) $ (122,132 ) $ (216,840 ) Other comprehensive income (loss) before reclassifications (1) (52,440 ) (31,380 ) (83,820 ) Amounts reclassified from accumulated other comprehensive loss (1) — 12,213 12,213 Net current period other comprehensive loss (52,440 ) (19,167 ) (71,607 ) December 31, 2018 $ (147,148 ) $ (141,299 ) $ (288,447 ) Other comprehensive income (loss) before reclassifications (1) 8,782 (55 ) 8,727 Amounts reclassified from accumulated other comprehensive income (loss) (1) — 3,487 3,487 Net current period other comprehensive income 8,782 3,432 12,214 Cumulative effect from adoption of ASU 2018-02 (2) (1,318 ) (24,939 ) (26,257 ) June 30, 2019 $ (139,684 ) $ (162,806 ) $ (302,490 )
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 470 (1) Amortization of actuarial losses (5,092 ) (1) (4,622 ) Total before tax 1,135 Income tax Total reclassifications $ (3,487 ) Net of tax (1) These items are included in the computation of net periodic pension cost. See Note 10 , Pension Plans .

RECLASSIFICATIONS FOR ACCOUNTIN

RECLASSIFICATIONS FOR ACCOUNTING PRONOUNCEMENTS (Details) - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018	Dec. 31, 2017
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Operating Lease, Right-of-Use Asset	$ 135,190	$ 0
Operating Lease, Liability	141,117
Retained earnings	2,339,703	2,191,471
Accumulated other comprehensive loss	(302,490)	$ (288,447)	$ (216,840)
Accounting Standards Update 2016-02 [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Operating Lease, Right-of-Use Asset	151,000
Operating Lease, Liability	151,000
Accounting Standards Update 2018-02 [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Retained earnings	26,257
Accumulated other comprehensive loss	$ (26,257)

REVENUE DISAGGREGATION OF REVEN

REVENUE DISAGGREGATION OF REVENUE (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Disaggregation of Revenue [Line Items]
Net sales	$ 638,996	$ 620,298	$ 1,217,310	$ 1,167,820
Defense [Member]
Disaggregation of Revenue [Line Items]
Net sales	280,673	252,778	511,305	457,939
Commercial [Member]
Disaggregation of Revenue [Line Items]
Net sales	358,323	367,520	706,005	709,881
Defense Aerospace [Member] | Defense [Member]
Disaggregation of Revenue [Line Items]
Net sales	104,426	99,654	183,213	178,808
Defense Ground [Member] | Defense [Member]
Disaggregation of Revenue [Line Items]
Net sales	26,394	20,777	47,151	43,296
Naval [Member] | Defense [Member]
Disaggregation of Revenue [Line Items]
Net sales	149,853	132,347	280,941	235,835
Commercial Aerospace [Member] | Commercial [Member]
Disaggregation of Revenue [Line Items]
Net sales	108,000	104,617	211,222	204,021
Power Generation [Member] | Commercial [Member]
Disaggregation of Revenue [Line Items]
Net sales	93,171	102,316	189,652	200,635
General Industrial [Member] | Commercial [Member]
Disaggregation of Revenue [Line Items]
Net sales	$ 157,152	$ 160,587	$ 305,131	$ 305,225
Transferred over Time [Member]
Disaggregation of Revenue [Line Items]
Net Sales, Net, Percent	48.00%	45.00%	48.00%	45.00%
Transferred at Point in Time [Member]
Disaggregation of Revenue [Line Items]
Net Sales, Net, Percent	52.00%	55.00%	52.00%	55.00%

REVENUE ADDITIONAL DETAILS (Det

REVENUE ADDITIONAL DETAILS (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018
Revenue from Contract with Customer [Abstract]
Contract with Customer, Liability, Revenue Recognized	$ 133	$ 113
Revenue, Remaining Performance Obligation, Amount	$ 2,200
Revenue, Remaining Performance Obligation, Percentage	90.00%
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Explanation	12 -36 months

ACQUISITIONS (Details)

ACQUISITIONS (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Dec. 31, 2018
Business Acquisition [Line Items]
Payments to Acquire Businesses, Gross	$ 50,075	$ 212,737
Goodwill	1,112,781		$ 1,088,032
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)
Net Tangible and Intangible Assets		195,267
Payments to Acquire Businesses, Gross		212,737
Goodwill		17,470
Goodwill, Expected Tax Deductible Amount		$ 17,470
2019 acquisitions [Member]
Business Acquisition [Line Items]
Accounts Receivable	2,300
Inventory	322
Property, Plant, and Equipment	648
Other Current and Non-current Assets	479
Intangible Assets, Other than Goodwill	26,000
Right of Use Assets	1,393
Current and Non-current Liabilities	(3,252)
Net Tangible and Intangible Assets	27,890
Purchase Price, Net of Cash Acquired	50,075
Goodwill	22,185
Goodwill, Expected Tax Deductible Amount	$ 22,185

ACQUISITIONS Narrative (Details

ACQUISITIONS Narrative (Details) $ in Thousands	Mar. 15, 2019	Apr. 02, 2018	Jun. 30, 2019USD ($)NumberAcquisitions	Jun. 30, 2018USD ($)NumberAcquisitions
Business Acquisition [Line Items]
Number of Businesses Acquired | NumberAcquisitions			1	1
Payments to Acquire Businesses, Gross			$ 50,075	$ 212,737
Revenue of Acquiree since Acquisition Date, Actual			4,000	22,000
Earnings or Loss of Acquiree since Acquisition Date, Actual			(1,000)	(3,000)
2019 acquisitions [Member]
Business Acquisition [Line Items]
Purchase Price, Net of Cash Acquired			50,075
2018 acquisitions [Member]
Business Acquisition [Line Items]
Payments to Acquire Businesses, Gross				212,737
Power [Member] | Dresser-Rand Government Business (DRG) [Member]
Business Acquisition [Line Items]
Effective Date of Acquisition		Apr. 2, 2018
Payments to Acquire Businesses, Gross				$ 212,700
Defense [Member] | Tactical Communications Group (TCG) [Member]
Business Acquisition [Line Items]
Effective Date of Acquisition	Mar. 15, 2019
Purchase Price, Net of Cash Acquired			$ 50,100

RECEIVABLES (Detail)

RECEIVABLES (Detail) - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018
Billed receivables:
Trade and other receivables	$ 415,774	$ 390,306
Less: Allowance for doubtful accounts	(9,003)	(7,436)
Net billed receivables	406,771	382,870
Unbilled receivables:
Recoverable costs and estimated earnings not billed	243,403	225,810
Less: Progress payments applied	(14,116)	(14,925)
Net unbilled receivables	229,287	210,885
Receivables, net	$ 636,058	$ 593,755

INVENTORIES (Detail)

INVENTORIES (Detail) - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018
Inventory, Net [Abstract]
Raw material	$ 191,678	$ 214,442
Work-in-process	91,848	74,536
Finished goods and component parts	143,360	143,016
Inventoried costs related to U.S. Government and other long-term contracts	70,684	54,195
Gross inventories	497,570	486,189
Less: Inventory reserves	53,808	55,776
Progress payments applied	(7,572)	(6,987)
Inventories, net	$ 436,190	$ 423,426

INVENTORIES (Narrative) (Detail

INVENTORIES (Narrative) (Detail) - USD ($) $ in Millions	Jun. 30, 2019	Dec. 31, 2018
Inventory, Net [Abstract]
Other inventory, capitalized costs	$ 43.6	$ 44.4
Other inventory, capitalized costs to be liquidated under firm orders	$ 32.5	$ 18.7

GOODWILL (Detail)

GOODWILL (Detail) $ in Thousands	6 Months Ended
	Jun. 30, 2019USD ($)
Goodwill [Roll Forward]
December 31, 2018	$ 1,088,032
Goodwill, Acquired During Period	22,185
Goodwill, Period Increase (Decrease)	208
Foreign currency translation adjustment	2,772
June 30, 2019	1,112,781
Commercial Industrial [Member]
Goodwill [Roll Forward]
December 31, 2018	442,015
Foreign currency translation adjustment	155
June 30, 2019	442,170
Defense [Member]
Goodwill [Roll Forward]
December 31, 2018	448,871
Goodwill, Acquired During Period	22,185
Goodwill, Period Increase (Decrease)	208
Foreign currency translation adjustment	2,489
June 30, 2019	473,337
Power [Member]
Goodwill [Roll Forward]
December 31, 2018	197,146
Foreign currency translation adjustment	128
June 30, 2019	$ 197,274

OTHER INTANGIBLE ASSETS, NET (D

OTHER INTANGIBLE ASSETS, NET (Detail) - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018
Finite Lived Intangible Assets [Line Items]
Gross	$ 809,449	$ 781,384
Accumulated Amortization	(375,932)	(351,817)
Net	433,517	429,567
Technology [Member]
Finite Lived Intangible Assets [Line Items]
Gross	245,480	238,212
Accumulated Amortization	(133,102)	(123,156)
Net	112,378	115,056
Customer Relationships [Member]
Finite Lived Intangible Assets [Line Items]
Gross	378,846	358,832
Accumulated Amortization	(204,767)	(193,455)
Net	174,079	165,377
Contract and Program Intangible Assets [Member]
Finite Lived Intangible Assets [Line Items]
Gross	144,000	144,000
Accumulated Amortization	(9,000)	(5,400)
Net	135,000	138,600
Other Intangible Assets [Member]
Finite Lived Intangible Assets [Line Items]
Gross	41,123	40,340
Accumulated Amortization	(29,063)	(29,806)
Net	$ 12,060	$ 10,534

OTHER INTANGIBLE ASSETS, NET (N

OTHER INTANGIBLE ASSETS, NET (Narrative) (Detail) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018
Finite Lived Intangible Assets [Line Items]
Finite-lived Intangible Assets Acquired	$ 26
Amortization expense	22.6	$ 21.1
Future amortization expense in remainder of fiscal year	45.2
Future amortization expense in year two	43.4
Future amortization expense in year three	41.5
Future amortization expense in year four	39
Future amortization expense in year five	35.3
Technology [Member]
Finite Lived Intangible Assets [Line Items]
Finite-lived Intangible Assets Acquired	$ 6.3
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life	15 years
Customer Relationships [Member]
Finite Lived Intangible Assets [Line Items]
Finite-lived Intangible Assets Acquired	$ 18.9
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life	14 years 7 months 6 days
Other Intangible Assets [Member]
Finite Lived Intangible Assets [Line Items]
Finite-lived Intangible Assets Acquired	$ 0.8
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life	8 years

LEASES LEASES - Narrative (Deta

LEASES LEASES - Narrative (Details) $ in Millions	Jun. 30, 2019USD ($)
Operating Leased Assets [Line Items]
Operating lease not yet commenced	$ 27
Minimum [Member]
Operating Leased Assets [Line Items]
Term of Contract	1 year
Maximum [Member]
Operating Leased Assets [Line Items]
Term of Contract	25 years

LEASES LEASES - Schedule of Lea

LEASES LEASES - Schedule of Lease Expenses (Details) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
	Jun. 30, 2019	Jun. 30, 2019
Leases [Abstract]
Operating lease cost	$ 7,146	$ 15,358
Amortization of finance right-of-use assets	199	396
Interest on finance lease liabilities	125	253
Total finance lease cost	$ 324	$ 649

LEASES LEASES - Supplemental Ca

LEASES LEASES - Supplemental Cash Flows (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2019USD ($)
Leases [Abstract]
Operating cash flows from operating leases	$ (15,207)
Operating cash flows from finance leases	(253)
Right-of-Use Asset Obtained in Exchange for Operating Lease Liability	$ 1,711

LEASES LEASES - Supplemental Ba

LEASES LEASES - Supplemental Balance Sheet (Details) - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018
Leases [Abstract]
Operating lease right-of-use asset	$ 135,190	$ 0
Current operating lease liability	23,328
Long-term operating lease liability	117,789	$ 0
Total operating lease liabilities	141,117
Property, plant and equipment	15,561
Accumulated depreciation	(5,014)
Property, plant and equipment, net	10,547
Current finance lease liability	777
Long-term finance lease liability	11,431
Total finance lease liabilities	$ 12,208
Operating Lease, Weighted Average Remaining Lease Term	8 years 1 month 6 days
Finance Lease, Weighted Average Remaining Lease Term	10 years 2 months 12 days
Operating Lease, Weighted Average Discount Rate, Percent	3.85%
Finance Lease, Weighted Average Discount Rate, Percent	4.05%

LEASES LEASES - Schedule of Mat

LEASES LEASES - Schedule of Maturities (Details) $ in Thousands	Jun. 30, 2019USD ($)
Operating Lease [Abstract]
Lease payments due remainder of fiscal year	$ 14,448
Lease payments due year two	27,560
Lease payments due year three	24,553
Lease payments due year four	18,358
Lease payments due year five	16,527
Lease payments due after year five	64,403
Total lease payments	165,849
Less: imputed interest	24,732
Total operating lease liabilities	141,117
Finance Lease, Cost [Abstract] (Deprecated 2019-01-31)
Lease payments due remainder of fiscal year	660
Lease payments due year two	1,342
Lease payments due year three	1,375
Lease payments due year four	1,410
Lease payments due year five	1,445
Lease payments due after year five	8,892
Total lease payments	15,124
Less: imputed interest	2,916
Total finance lease liabilities	$ 12,208

FAIR VALUE OF FINANCIAL INSTR_3

FAIR VALUE OF FINANCIAL INSTRUMENTS (Income Loss (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
General and Administrative Expense [Member]
Derivative [Line Items]
Gain (Loss) on Foreign Currency Derivative Instruments Not Designated as Hedging Instruments	$ (2,158)	$ (2,871)	$ 1,431	$ (2,518)

FAIR VALUE OF FINANCIAL INSTR_4

FAIR VALUE OF FINANCIAL INSTRUMENTS (Debt) (Detail) - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Carrying Value	$ 761,476	$ 762,556
Estimated Fair Value	791,653	763,316
Long-term Debt, Gross	750,000	750,243
Debt Issuance Costs, Net	(654)	(714)
Deferred Gain (Loss) on Discontinuation of Interest Rate Fair Value Hedge	12,130	13,027
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	$ 101,995	100,359
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	$ 202,500	202,500
Estimated Fair Value	$ 207,217	201,813
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	$ 90,000	90,000
Estimated Fair Value	$ 93,385	89,711
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	$ 212,152	202,288
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	$ 67,500	67,500
Estimated Fair Value	$ 70,686	66,942
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	$ 90,000	90,000
Estimated Fair Value	$ 94,742	89,647
Debt Instrument, Interest Rate, Stated Percentage	4.11%
Other debt [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Carrying Value	$ 0	243
Estimated Fair Value	0	243
Long-term Debt, gross [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Estimated Fair Value	$ 780,177	$ 751,003

PENSION AND OTHER POSTRETIREM_3

PENSION AND OTHER POSTRETIREMENT BENEFIT PLANS (Detail) - Pension Plans Defined Benefit [Member] - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Defined Benefit Plan Disclosure [Line Items]
Service cost	$ 5,825	$ 6,495	$ 11,651	$ 13,001
Interest cost	7,371	6,521	14,743	13,055
Expected return on plan assets	(14,882)	(14,695)	(29,766)	(29,411)
Amortization of prior service cost	(70)	(62)	(141)	(125)
Amortization of unrecognized actuarial loss	2,592	3,903	5,184	7,809
Net postretirement benefit cost (income)	$ 836	$ 2,162	$ 1,671	4,329
Defined Benefit Plan, Plan Assets, Contributions by Employer				$ 50,000

PENSION AND OTHER POSTRETIREM_4

PENSION AND OTHER POSTRETIREMENT BENEFIT PLANS (Additional) (Detail) - USD ($) $ in Millions	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018	Dec. 31, 2019
Defined Contribution Plan Disclosure [Line Items]
Defined Contribution Plan, Employer Contribution, Percentage, Maximum			7.00%	6.00%
Defined Contribution Plan, Cost	$ 4.2	$ 3.2	$ 9.6	$ 7.4
Defined Contribution Plan, Employer Discretionary Contribution Amount			$ 13.1
Forecast [Member]
Defined Contribution Plan Disclosure [Line Items]
Defined Contribution Plan, Employer Discretionary Contribution Amount					$ 15.1

EARNINGS PER SHARE (Detail)

EARNINGS PER SHARE (Detail) - shares shares in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Earnings Per Share Reconciliation [Abstract]
Basic weighted-average shares outstanding (shares)	42,758	44,124	42,776	44,144
Dilutive effect of stock options and deferred stock compensation (shares)	266	429	262	460
Diluted weighted-average shares outstanding (shares)	43,024	44,553	43,038	44,604

EARNINGS PER SHARE EARNINGS PER

EARNINGS PER SHARE EARNINGS PER SHARE (Anti-dilutive) (Details) - shares shares in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	0	0	0	0

SEGMENT INFORMATION (Detail)

SEGMENT INFORMATION (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018	Dec. 31, 2018
Segment Reporting Information [Line Items]
Net sales	$ 638,996	$ 620,298	$ 1,217,310	$ 1,167,820
Operating income (expense)	105,685	102,076	177,730	166,574
Identifiable assets	3,426,640		3,426,640		$ 3,255,385
Commercial Industrial [Member]
Segment Reporting Information [Line Items]
Net sales	318,572	312,605	612,322	609,358
Operating income (expense)	56,236	51,736	95,682	90,961
Identifiable assets	1,467,700		1,467,700		1,398,601
Defense [Member]
Segment Reporting Information [Line Items]
Net sales	145,571	148,085	267,068	268,968
Operating income (expense)	29,661	38,641	47,314	58,369
Identifiable assets	1,068,806		1,068,806		961,298
Power [Member]
Segment Reporting Information [Line Items]
Net sales	176,582	162,049	340,729	294,207
Operating income (expense)	30,069	19,201	54,288	34,543
Identifiable assets	771,379		771,379		720,073
Corporate, Non-Segment [Member]
Segment Reporting Information [Line Items]
Operating income (expense)	(10,281)	(7,502)	(19,554)	(17,299)
Identifiable assets	118,755		118,755		$ 175,413
Intersegment Eliminations [Member]
Segment Reporting Information [Line Items]
Net sales	$ (1,729)	$ (2,441)	$ (2,809)	$ (4,713)

SEGMENT INFORMATION (Reconcilia

SEGMENT INFORMATION (Reconciliation) (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Segment Reporting [Abstract]
Total operating income	$ 105,685	$ 102,076	$ 177,730	$ 166,574
Interest expense	(7,960)	(9,566)	(15,232)	(17,770)
Other income, net	5,871	3,971	11,349	8,654
Earnings before income taxes	$ 103,596	$ 96,481	$ 173,847	$ 157,458

ACCUMULATED OTHER COMPREHENSI_3

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018	Dec. 31, 2018
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance			$ (288,447)	$ (216,840)	$ (216,840)
Other comprehensive income (loss) before reclassifications			8,727		(83,820)
Amounts reclassified from accumulated other comprehensive loss			3,487		12,213
Other comprehensive income (loss), net of tax	$ 2,289	$ (40,709)	12,214	(22,676)	(71,607)
Ending balance	(302,490)		(302,490)		(288,447)
Foreign Currency Translation Adjustments, Net [Member]
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance			(147,148)	(94,708)	(94,708)
Other comprehensive income (loss) before reclassifications			8,782		(52,440)
Amounts reclassified from accumulated other comprehensive loss			0		0
Other comprehensive income (loss), net of tax			8,782		(52,440)
Ending balance	(139,684)		(139,684)		(147,148)
Total Pension and Postretirment Adjustments, Net [Member]
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance			(141,299)	$ (122,132)	(122,132)
Other comprehensive income (loss) before reclassifications			(55)		(31,380)
Amounts reclassified from accumulated other comprehensive loss			3,487		12,213
Other comprehensive income (loss), net of tax			3,432		(19,167)
Ending balance	(162,806)		(162,806)		$ (141,299)
Accounting Standards Update 2018-02 [Member]
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Ending balance	(26,257)		(26,257)
Accounting Standards Update 2018-02 [Member] | Foreign Currency Translation Adjustments, Net [Member]
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Ending balance	(1,318)		(1,318)
Accounting Standards Update 2018-02 [Member] | Total Pension and Postretirment Adjustments, Net [Member]
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Ending balance	$ (24,939)		$ (24,939)

ACCUMULATED OTHER COMPREHENSI_4

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) (Reclass) (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Accumulated Other Comprehensive Income (Loss) [Line Items]
Earnings from continuing operations before income taxes	$ 103,596	$ 96,481	$ 173,847	$ 157,458
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			470
Amortization of actuarial losses			(5,092)
Earnings from continuing operations before income taxes			(4,622)
Income tax			1,135
Net earnings			$ (3,487)

CONTINGENCIES AND COMMITMENTS (

CONTINGENCIES AND COMMITMENTS (Detail) - USD ($)	Oct. 10, 2013	Jun. 30, 2019	Dec. 31, 2018
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		29,800,000	$ 21,700,000
FinancialStandbyLetterOfCreditMember
Loss Contingencies [Line Items]
Letters of credit, outstanding		10,900,000	$ 11,700,000
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		45,600,000
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		55,500,000
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