Curtiss-Wright (CW) 10-Q 2 May 24 2024 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2024	Apr. 30, 2024
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2024
Document Transition Report	false
Entity File Number	1-134
Entity Registrant Name	CURTISS-WRIGHT CORPORATION
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	13-0612970
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
City Area Code	704
Local Phone Number	869-4600
Title of 12(b) Security	Common Stock
Trading Symbol	CW
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Small Business	false
Emerging Company	false
Entity common stock shares outstanding		38,298,789
Entity Shell Company	false
Entity Central Index Key	0000026324
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q1
Amendment Flag	false

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF EARNINGS (UNAUDITED) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Net Sales
Net sales	$ 713,167	$ 630,860
Cost of sales
Cost of sales	459,412	409,452
Gross profit	253,755	221,408
Research and development expenses	22,980	22,024
Selling expenses	36,765	32,425
General and administrative expenses	94,049	88,344
Operating income	99,961	78,615
Interest expense	(10,570)	(12,944)
Other income, net	9,608	7,767
Earnings before income taxes	98,999	73,438
Provision for income taxes	(22,504)	(16,592)
Net earnings	$ 76,495	$ 56,846
Net earnings per share:
Basic earnings per share (usd per share)	$ 2	$ 1.48
Diluted earnings per share (usd per share)	1.99	1.48
Dividends per share	$ 0.20	$ 0.19
Weighted-average shares outstanding:
Basic (shares)	38,254	38,303
Diluted (shares)	38,431	38,516
Product
Net Sales
Net sales	$ 595,704	$ 524,881
Cost of sales
Cost of sales	389,477	343,757
Service
Net Sales
Net sales	117,463	105,979
Cost of sales
Cost of sales	$ 69,935	$ 65,695

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (Unaudited) - USD ($) $ in Thousands		3 Months Ended
		Mar. 31, 2024	Mar. 31, 2023
Statement of Comprehensive Income [Abstract]
Net earnings		$ 76,495	$ 56,846
Other comprehensive income
Foreign currency translation, net of tax	[1]	(15,579)	14,666
Pension and postretirement adjustments, net of tax	[1]	547	(192)
Other comprehensive income (loss), net of tax		(15,032)	14,474
Comprehensive income		$ 61,463	$ 71,320
[1]The tax benefit/(expense) included in both foreign currency translation adjustments and pension and postretirement adjustments for the three months ended March 31, 2024 and 2023 was immaterial.

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Current Assets:
Cash and cash equivalents	$ 338,034	$ 406,867
Receivables, net	776,662	732,678
Inventories, net	553,037	510,033
Other current assets	69,483	67,502
Total current assets	1,737,216	1,717,080
Property, plant, and equipment, net	329,347	332,796
Goodwill	1,552,343	1,558,826
Other intangible assets, net	542,335	557,612
Operating Lease, Right-of-Use Asset	133,846	141,435
Prepaid pension asset	267,334	261,869
Other assets	49,661	51,351
Total assets	4,612,082	4,620,969
Current liabilities:
Current portion of long-term debt	90,000	0
Accounts payable	233,818	243,833
Accrued expenses	158,089	188,039
Deferred revenue	297,545	303,872
Other current liabilities	78,823	70,800
Total current liabilities	858,275	806,544
Long-term debt	960,009	1,050,362
Deferred tax liabilities, net	128,000	132,319
Accrued pension and other postretirement benefit costs	67,446	66,875
Long-term operating lease liability	111,981	118,611
Long-term portion of environmental reserves	13,439	12,784
Other liabilities	92,753	105,061
Total liabilities	2,231,903	2,292,556
Stockholders' Equity
Common stock, $1 par value,100,000,000 shares authorized as of March 31, 2024 and December 31, 2023; 49,187,378 shares issued as of March 31, 2024 and December 31, 2023; outstanding shares were 38,315,999 as of March 31, 2024 and 38,202,754 as of December 31, 2023	49,187	49,187
Additional paid in capital	133,166	140,182
Retained earnings	3,556,572	3,487,751
Accumulated other comprehensive loss	(228,255)	(213,223)
Common treasury stock, at cost (10,871,379 shares as of March 31, 2024 and 10,984,624 shares as of December 31, 2023)	(1,130,491)	(1,135,484)
Total stockholders' equity	2,380,179	2,328,413
Total liabilities and stockholders' equity	$ 4,612,082	$ 4,620,969

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Mar. 31, 2024	Dec. 31, 2023
Statement of Financial Position [Abstract]
Common stock, par value (usd per share)	$ 1	$ 1
Common Stock, Shares Authorized (in shares)	100,000,000	100,000,000
Common Stock, Shares, Issued (in shares)	49,187,378	49,187,378
Common Stock, Shares, Outstanding (in shares)	38,315,999	38,202,754
Treasury Stock, Common, Shares (in shares)	10,871,379	10,984,624

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Cash flows from operating activities:
Net earnings	$ 76,495	$ 56,846
Adjustments to reconcile net earnings to net cash used for operating activities:
Depreciation and amortization	26,983	28,927
Loss on sale/disposal of long-lived assets	21	93
Deferred income taxes	(2,742)	(2,619)
Share-based compensation	4,695	5,179
Change in operating assets and liabilities, net of businesses acquired:
Receivables, net	(47,742)	6,114
Inventories, net	(45,851)	(42,897)
Accounts payable and accrued expenses	(34,816)	(85,442)
Deferred revenue	(5,776)	(8,252)
Pension and postretirement liabilities, net	(4,733)	(4,946)
Other current and long-term assets and liabilities	(12,167)	(44,602)
Net cash used for operating activities	(45,633)	(91,599)
Cash flows from investing activities:
Proceeds from sale/disposal of long-lived assets	41	224
Additions to property, plant, and equipment	(12,055)	(10,661)
Net cash used for investing activities	(12,014)	(10,437)
Cash flows from financing activities:
Borrowings under revolving credit facility	4,879	465,025
Repayments of Lines of Credit	(4,879)	(286,825)
Repayments of Senior Debt	0	(202,500)
Repurchases of common stock	(12,190)	(12,386)
Proceeds from share-based compensation	5,472	5,225
Other	(288)	(268)
Net cash used for financing activities	(7,006)	(31,729)
Effect of exchange-rate changes on cash	(4,180)	7,450
Net decrease in cash and cash equivalents	(68,833)	(126,315)
Cash and cash equivalents at beginning of period	406,867	256,974
Cash and cash equivalents at end of period	$ 338,034	$ 130,659

CONDENSED CONSOLIDATED STATEM_4

CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY (Unaudited) - USD ($) shares in Thousands, $ in Thousands		Total	Common Stock Member	Additional Paid In Capital Member	Retained Earnings Member	Accumulated Other Comprehensive Loss Member	Treasury Stock
Beginning Balance at Dec. 31, 2022			$ 49,187	$ 134,553	$ 3,163,491	$ (258,916)	$ (1,107,101)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net earnings		$ 56,846			56,846
Other Comprehensive Income (Loss), Net of Tax		$ 14,474				14,474
Dividends paid/declared					(7,298)
Restricted stock				(13,805)			13,805
Employee Stock Purchase Plan				1,483			3,742
Share-based compensation				4,939			240
Repurchases of common stock	[1]						(12,386)
Other				(261)			261
Ending Balance at Mar. 31, 2023			49,187	126,909	3,213,039	(244,442)	(1,101,439)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Treasury Stock, Shares, Acquired		73
Beginning Balance at Dec. 31, 2022			49,187	134,553	3,163,491	(258,916)	(1,107,101)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Other Comprehensive Income (Loss), Net of Tax		$ 45,693
Ending Balance at Dec. 31, 2023		2,328,413	49,187	140,182	3,487,751	(213,223)	(1,135,484)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net earnings		76,495			76,495
Other Comprehensive Income (Loss), Net of Tax		(15,032)				(15,032)
Dividends paid/declared					(7,674)
Restricted stock				(13,879)			13,879
Employee Stock Purchase Plan				2,484			2,988
Share-based compensation				4,562			133
Repurchases of common stock	[1]						(12,190)
Other				(183)			183
Ending Balance at Mar. 31, 2024		$ 2,380,179	$ 49,187	$ 133,166	$ 3,556,572	$ (228,255)	$ (1,130,491)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Treasury Stock, Shares, Acquired		53
[1]For the three months ended March 31, 2024 and March 31, 2023, the Corporation repurchased approximately 53,000 and 73,000 shares, respectively, of its common stock.

CONDENSED CONSOLIDATED STATEM_5

CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY (Unaudited) (Parenthetical) - shares shares in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Statement of Stockholders' Equity [Abstract]
Treasury Stock, Shares, Acquired	53	73

BASIS OF PRESENTATION

BASIS OF PRESENTATION	3 Months Ended
	Mar. 31, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
BASIS OF PRESENTATION	BASIS OF PRESENTATION Curtiss-Wright Corporation and its subsidiaries ("we," the "Corporation," or the "Company") is a global integrated business that provides highly engineered products, solutions, and services mainly to aerospace & defense (A&D) markets, as well as critical technologies in demanding commercial power, process, and 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, 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 months ended March 31, 2024 and 2023, 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 2023 Annual Report on Form 10-K filed with the SEC. The results of operations for interim periods are not necessarily indicative of trends or of the operating results for a full year.

REVENUE

REVENUE	3 Months Ended
	Mar. 31, 2024
Revenue from Contract with Customer [Abstract]
Revenue from Contract with Customer [Text Block]	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. 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. If a performance obligation does not qualify for over-time revenue recognition, revenue is then recognized at the point-in-time in which control of the distinct good or service is transferred to the customer, typically based upon the terms of delivery. The following table illustrates the approximate percentage of revenue recognized for performance obligations satisfied over-time versus at a point-in-time for the three months ended March 31, 2024 and 2023: Three Months Ended March 31, 2024 2023 Over-time 49 % 49 % Point-in-time 51 % 51 % 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 $3.1 billion as of March 31, 2024, of which the Corporation expects to recognize approximatel y 90% as net sales over the next 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 March 31, (In thousands) 2024 2023 Aerospace & Defense Aerospace Defense $ 132,074 $ 99,879 Ground Defense 90,760 66,256 Naval Defense 177,647 171,956 Commercial Aerospace 89,775 70,490 Total Aerospace & Defense customers $ 490,256 $ 408,581 Commercial Power & Process $ 124,039 $ 120,339 General Industrial 98,872 101,940 Total Commercial customers $ 222,911 $ 222,279 Total $ 713,167 $ 630,860 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 three months ended March 31, 2024 and 2023 included in contract liabilities at the beginning of the respective years was approximately $90 million and $89 million, respectively. Contract assets and contract liabilities are reported in the "Receivables, net" and "Deferred revenue" lines, respectively, within the Condensed Consolidated Balance Sheet.

RECEIVABLES

RECEIVABLES	3 Months Ended
	Mar. 31, 2024
Receivables [Abstract]
RECEIVABLES	RECEIVABLES Receivables primarily include amounts billed to customers, unbilled charges on long-term contracts consisting of amounts recognized as sales but not billed, and other receivables. Substantially all amounts of unbilled receivables are expected to be billed and collected within one year. An immaterial amount of unbilled receivables are subject to retainage provisions. The amount of claims and unapproved change orders within our receivables balances are immaterial. The composition of receivables is as follows: (In thousands) March 31, 2024 December 31, 2023 Billed receivables: Trade and other receivables $ 446,747 $ 427,830 Unbilled receivables: Recoverable costs and estimated earnings not billed 334,671 309,561 Less: Progress payments applied (230) (687) Net unbilled receivables 334,441 308,874 Less: Allowance for doubtful accounts (4,526) (4,026) Receivables, net $ 776,662 $ 732,678

INVENTORIES

INVENTORIES	3 Months Ended
	Mar. 31, 2024
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 net realizable value. The composition of inventories is as follows: (In thousands) March 31, 2024 December 31, 2023 Raw materials $ 266,413 $ 239,313 Work-in-process 112,605 103,750 Finished goods 134,211 126,174 Inventoried costs related to U.S. Government and other long-term contracts 40,689 43,255 Inventories, net of reserves 553,918 512,492 Less: Progress payments applied (881) (2,459) Inventories, net $ 553,037 $ 510,033

GOODWILL

GOODWILL	3 Months Ended
	Mar. 31, 2024
Goodwill [Abstract]
GOODWILL	GOODWILL The Corporation accounts for acquisitions by assigning the purchase price to acquired tangible and intangible assets and liabilities assumed. Assets acquired and liabilities assumed are recorded at their fair values, and the excess of the purchase price over the amounts assigned is recorded as goodwill. The changes in the carrying amount of goodwill for the three months ended March 31, 2024 are as follows: (In thousands) Aerospace & Industrial Defense Electronics Naval & Power Consolidated December 31, 2023 $ 325,131 $ 710,378 $ 523,317 $ 1,558,826 Foreign currency translation adjustment (734) (4,027) (1,722) (6,483) March 31, 2024 $ 324,397 $ 706,351 $ 521,595 $ 1,552,343

OTHER INTANGIBLE ASSETS, NET

OTHER INTANGIBLE ASSETS, NET	3 Months Ended
	Mar. 31, 2024
Intangible Assets, Net (Excluding Goodwill) [Abstract]
OTHER INTANGIBLE ASSETS, NET	OTHER INTANGIBLE ASSETS, NET Intangible assets are generally the result of acquisitions and consist primarily of purchased technology and customer related intangibles. Intangible assets are amortized over useful lives that range between 1 to 20 years. The following tables present the cumulative composition of the Corporation’s intangible assets: March 31, 2024 December 31, 2023 (In thousands) Gross Accumulated Amortization Net Gross Accumulated Amortization Net Technology $ 307,207 $ (198,552) $ 108,655 $ 308,256 $ (195,446) $ 112,810 Customer related intangibles 669,065 (346,171) 322,894 670,966 (339,325) 331,641 Programs (1) 144,000 (43,200) 100,800 144,000 (41,400) 102,600 Other intangible assets 54,042 (44,056) 9,986 54,227 (43,666) 10,561 Total $ 1,174,314 $ (631,979) $ 542,335 $ 1,177,449 $ (619,837) $ 557,612 (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. Total intangible amortization expense for the three months ended March 31, 2024 was $14 million, as compared to $16 million in the comparable prior year period. The estimated future amortization expense of intangible assets over the next five years is as follows: (In millions) 2024 $ 57 2025 $ 54 2026 $ 53 2027 $ 50 2028 $ 44

FAIR VALUE OF FINANCIAL INSTRUM

FAIR VALUE OF FINANCIAL INSTRUMENTS	3 Months Ended
	Mar. 31, 2024
Fair Value Disclosures [Abstract]
FAIR VALUE OF FINANCIAL INSTRUMENTS	FAIR VALUE OF FINANCIAL 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. 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 March 31, 2024. 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. March 31, 2024 December 31, 2023 (In thousands) Carrying Value Estimated Fair Value Carrying Value Estimated Fair Value 3.85% Senior notes due 2025 90,000 88,655 90,000 88,243 4.24% Senior notes due 2026 200,000 194,444 200,000 195,556 4.05% Senior notes due 2028 67,500 64,289 67,500 64,801 4.11% Senior notes due 2028 90,000 85,213 90,000 85,999 3.10% Senior notes due 2030 150,000 130,433 150,000 131,942 3.20% Senior notes due 2032 150,000 125,714 150,000 127,649 4.49% Senior notes due 2032 200,000 184,346 200,000 187,584 4.64% Senior notes due 2034 100,000 91,533 100,000 92,961 Total debt 1,047,500 964,627 1,047,500 974,735 Debt issuance costs, net (1,487) (1,487) (1,541) (1,541) Unamortized interest rate swap proceeds 3,996 3,996 4,403 4,403 Total debt, net $ 1,050,009 $ 967,136 1,050,362 977,597

PENSION AND OTHER POSTRETIREMEN

PENSION AND OTHER POSTRETIREMENT BENEFIT PLANS	3 Months Ended
	Mar. 31, 2024
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 2023 Annual Report on Form 10-K filed with the SEC. The components of net periodic pension cost/(benefit) were as follows: Three Months Ended March 31, (In thousands) 2024 2023 Service cost $ 4,282 $ 4,127 Interest cost 8,593 8,790 Expected return on plan assets (16,553) (15,820) Amortization of prior service cost (8) (33) Amortization of unrecognized actuarial loss 266 77 Net periodic pension cost/(benefit) $ (3,420) $ (2,859) The Corporation did not make any contributions to the Curtiss-Wright Pension Plan during the three months ended March 31, 2024, and does not expect to do so throughout the remainder of the year. Contributions to the foreign benefit plans are not expected to be material in 2024. Defined Contribution Retirement Plan The Company also maintains a defined contribution plan for all non-union employees who are not currently receiving final or career average pay benefits for its U.S. subsidiaries. The employer contributions include both employer match and non-elective contribution components up to a maximum employer contribution o f 7% of eligible compensation. During the three months ended March 31, 2024 and 2023, the expense relating to the plan was $7.6 million and $6.1 million, respectively.

EARNINGS PER SHARE

EARNINGS PER SHARE	3 Months Ended
	Mar. 31, 2024
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 March 31, (In thousands) 2024 2023 Basic weighted-average shares outstanding 38,254 38,303 Dilutive effect of deferred stock compensation 177 213 Diluted weighted-average shares outstanding 38,431 38,516 For the three months ended March 31, 2024 and 2023, approximately 59,000 and 24,000 shares, respectively, 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	3 Months Ended
	Mar. 31, 2024
Segment Reporting [Abstract]
SEGMENT INFORMATION	SEGMENT INFORMATION 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 March 31, (In thousands) 2024 2023 Net sales Aerospace & Industrial $ 219,547 $ 203,586 Defense Electronics 212,483 163,070 Naval & Power 282,213 266,814 Less: Intersegment revenues (1,076) (2,610) Total consolidated $ 713,167 $ 630,860 Operating income (expense) Aerospace & Industrial $ 27,466 $ 26,545 Defense Electronics 48,081 23,368 Naval & Power 35,191 37,937 Corporate and other (1) (10,777) (9,235) Total consolidated $ 99,961 $ 78,615 (1) Includes pension and other postretirement benefit expense, certain environmental costs related to remediation at legacy sites, and certain other expenses. Adjustments to reconcile operating income to earnings before income taxes are as follows: Three Months Ended March 31, (In thousands) 2024 2023 Total operating income $ 99,961 $ 78,615 Interest expense 10,570 12,944 Other income, net 9,608 7,767 Earnings before income taxes $ 98,999 $ 73,438 (In thousands) March 31, 2024 December 31, 2023 Identifiable assets Aerospace & Industrial $ 1,080,200 $ 1,077,808 Defense Electronics 1,520,096 1,517,877 Naval & Power 1,543,826 1,496,063 Corporate and Other 467,960 529,221 Total consolidated $ 4,612,082 $ 4,620,969

ACCUMULATED OTHER COMPREHENSIVE

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)	3 Months Ended
	Mar. 31, 2024
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, 2022 $ (160,807) $ (98,109) $ (258,916) Other comprehensive income (loss) before reclassifications (1) 37,519 8,218 45,737 Amounts reclassified from accumulated other comprehensive loss (1) — (44) (44) Net current period other comprehensive income (loss) 37,519 8,174 45,693 December 31, 2023 $ (123,288) $ (89,935) $ (213,223) Other comprehensive income (loss) before reclassifications (1) (15,579) 744 (14,835) Amounts reclassified from accumulated other comprehensive loss (1) — (197) (197) Net current period other comprehensive income (loss) (15,579) 547 (15,032) March 31, 2024 $ (138,867) $ (89,388) $ (228,255) (1) All amounts are after tax.

CONTINGENCIES AND COMMITMENTS

CONTINGENCIES AND COMMITMENTS	3 Months Ended
	Mar. 31, 2024
Commitments and Contingencies Disclosure [Abstract]
CONTINGENCIES AND COMMITMENTS	CONTINGENCIES AND COMMITMENTS From time to time, the Corporation is involved in legal proceedings that are incidental to the operation of its business. Some of these proceedings allege damages relating to asbestos and environmental exposures, intellectual property matters, copyright infringement, personal injury claims, employment and employee benefit matters, government contract issues, commercial or contractual disputes, and acquisitions or divestitures. The Corporation continues to defend vigorously against all claims. Although the ultimate outcome of any legal matter cannot be predicted with certainty, based on present information, including assessment of the merits of the particular claim, as well as current accruals and insurance coverage, the Corporation does not believe that the disposition of any of these matters, individually or in the aggregate, will have a material adverse effect on its condensed consolidated financial condition, results of operations, and cash flows. 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 asbestos-related 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. 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 March 31, 2024 and December 31, 2023, there were $19 million and $20 million of stand-by letters of credit outstanding, respectively. As of both March 31, 2024 and December 31, 2023, there were $16 million of bank guarantees outstanding. 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 $35 million surety bond.

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	3 Months Ended
	Mar. 31, 2024
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	13 . SUBSEQUENT EVENTS On April 1, 2024, the Corporation completed the acquisition of WSC, Inc. for approximately $34 million in cash. WSC is a provider of simulation technology that supports the design, commissioning, and reliable operation of commercial nuclear power generation and process plants. For the year ended December 31, 2023, WSC generated sales of approximately $15 million. The acquired business will operate within the Naval & Power segment.

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Pay vs Performance Disclosure
Net earnings	$ 76,495	$ 56,846

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Mar. 31, 2024
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

BASIS OF PRESENTATION (Policies

BASIS OF PRESENTATION (Policies)	3 Months Ended
	Mar. 31, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis Of Accounting	BASIS OF PRESENTATION Curtiss-Wright Corporation and its subsidiaries ("we," the "Corporation," or the "Company") is a global integrated business that provides highly engineered products, solutions, and services mainly to aerospace & defense (A&D) markets, as well as critical technologies in demanding commercial power, process, and 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, 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 months ended March 31, 2024 and 2023, 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 2023 Annual Report on Form 10-K filed with the SEC. The results of operations for interim periods are not necessarily indicative of trends or of the operating results for a full year.

REVENUE (Tables)

REVENUE (Tables)	3 Months Ended
	Mar. 31, 2024
Revenue from Contract with Customer [Abstract]
Disaggregation of Revenue	The following table illustrates the approximate percentage of revenue recognized for performance obligations satisfied over-time versus at a point-in-time for the three months ended March 31, 2024 and 2023: Three Months Ended March 31, 2024 2023 Over-time 49 % 49 % Point-in-time 51 % 51 % 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 March 31, (In thousands) 2024 2023 Aerospace & Defense Aerospace Defense $ 132,074 $ 99,879 Ground Defense 90,760 66,256 Naval Defense 177,647 171,956 Commercial Aerospace 89,775 70,490 Total Aerospace & Defense customers $ 490,256 $ 408,581 Commercial Power & Process $ 124,039 $ 120,339 General Industrial 98,872 101,940 Total Commercial customers $ 222,911 $ 222,279 Total $ 713,167 $ 630,860

RECEIVABLES (Table)

RECEIVABLES (Table)	3 Months Ended
	Mar. 31, 2024
Receivables [Abstract]
Schedule Of Accounts Notes Loans And Financing Receivable	The composition of receivables is as follows: (In thousands) March 31, 2024 December 31, 2023 Billed receivables: Trade and other receivables $ 446,747 $ 427,830 Unbilled receivables: Recoverable costs and estimated earnings not billed 334,671 309,561 Less: Progress payments applied (230) (687) Net unbilled receivables 334,441 308,874 Less: Allowance for doubtful accounts (4,526) (4,026) Receivables, net $ 776,662 $ 732,678

INVENTORIES (Table)

INVENTORIES (Table)	3 Months Ended
	Mar. 31, 2024
Inventory, Net [Abstract]
Schedule Of Inventory	The composition of inventories is as follows: (In thousands) March 31, 2024 December 31, 2023 Raw materials $ 266,413 $ 239,313 Work-in-process 112,605 103,750 Finished goods 134,211 126,174 Inventoried costs related to U.S. Government and other long-term contracts 40,689 43,255 Inventories, net of reserves 553,918 512,492 Less: Progress payments applied (881) (2,459) Inventories, net $ 553,037 $ 510,033

GOODWILL (Table)

GOODWILL (Table)	3 Months Ended
	Mar. 31, 2024
Goodwill [Abstract]
Schedule Of Goodwill	The changes in the carrying amount of goodwill for the three months ended March 31, 2024 are as follows: (In thousands) Aerospace & Industrial Defense Electronics Naval & Power Consolidated December 31, 2023 $ 325,131 $ 710,378 $ 523,317 $ 1,558,826 Foreign currency translation adjustment (734) (4,027) (1,722) (6,483) March 31, 2024 $ 324,397 $ 706,351 $ 521,595 $ 1,552,343

OTHER INTANGIBLE ASSETS, NET (T

OTHER INTANGIBLE ASSETS, NET (Table)	3 Months Ended
	Mar. 31, 2024
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: March 31, 2024 December 31, 2023 (In thousands) Gross Accumulated Amortization Net Gross Accumulated Amortization Net Technology $ 307,207 $ (198,552) $ 108,655 $ 308,256 $ (195,446) $ 112,810 Customer related intangibles 669,065 (346,171) 322,894 670,966 (339,325) 331,641 Programs (1) 144,000 (43,200) 100,800 144,000 (41,400) 102,600 Other intangible assets 54,042 (44,056) 9,986 54,227 (43,666) 10,561 Total $ 1,174,314 $ (631,979) $ 542,335 $ 1,177,449 $ (619,837) $ 557,612 (1)
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense	The estimated future amortization expense of intangible assets over the next five years is as follows: (In millions) 2024 $ 57 2025 $ 54 2026 $ 53 2027 $ 50 2028 $ 44

FAIR VALUE OF FINANCIAL INSTR_2

FAIR VALUE OF FINANCIAL INSTRUMENTS (Table)	3 Months Ended
	Mar. 31, 2024
Fair Value Disclosures [Abstract]
Schedule of Carrying Values and Estimated Fair Values of Debt Instruments [Table Text Block]	March 31, 2024 December 31, 2023 (In thousands) Carrying Value Estimated Fair Value Carrying Value Estimated Fair Value 3.85% Senior notes due 2025 90,000 88,655 90,000 88,243 4.24% Senior notes due 2026 200,000 194,444 200,000 195,556 4.05% Senior notes due 2028 67,500 64,289 67,500 64,801 4.11% Senior notes due 2028 90,000 85,213 90,000 85,999 3.10% Senior notes due 2030 150,000 130,433 150,000 131,942 3.20% Senior notes due 2032 150,000 125,714 150,000 127,649 4.49% Senior notes due 2032 200,000 184,346 200,000 187,584 4.64% Senior notes due 2034 100,000 91,533 100,000 92,961 Total debt 1,047,500 964,627 1,047,500 974,735 Debt issuance costs, net (1,487) (1,487) (1,541) (1,541) Unamortized interest rate swap proceeds 3,996 3,996 4,403 4,403 Total debt, net $ 1,050,009 $ 967,136 1,050,362 977,597

PENSION AND OTHER POSTRETIREM_2

PENSION AND OTHER POSTRETIREMENT BENEFIT PLANS (Table)	3 Months Ended
	Mar. 31, 2024
Retirement Benefits, Description [Abstract]
Schedule Of Defined Benefit Plans Disclosures	The components of net periodic pension cost/(benefit) were as follows: Three Months Ended March 31, (In thousands) 2024 2023 Service cost $ 4,282 $ 4,127 Interest cost 8,593 8,790 Expected return on plan assets (16,553) (15,820) Amortization of prior service cost (8) (33) Amortization of unrecognized actuarial loss 266 77 Net periodic pension cost/(benefit) $ (3,420) $ (2,859)

EARNINGS PER SHARE (Table)

EARNINGS PER SHARE (Table)	3 Months Ended
	Mar. 31, 2024
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 March 31, (In thousands) 2024 2023 Basic weighted-average shares outstanding 38,254 38,303 Dilutive effect of deferred stock compensation 177 213 Diluted weighted-average shares outstanding 38,431 38,516

SEGMENT INFORMATION (Table)

SEGMENT INFORMATION (Table)	3 Months Ended
	Mar. 31, 2024
Segment Reporting [Abstract]
Schedule Of Segment Reporting Information By Segment	Net sales and operating income by reportable segment were as follows: Three Months Ended March 31, (In thousands) 2024 2023 Net sales Aerospace & Industrial $ 219,547 $ 203,586 Defense Electronics 212,483 163,070 Naval & Power 282,213 266,814 Less: Intersegment revenues (1,076) (2,610) Total consolidated $ 713,167 $ 630,860 Operating income (expense) Aerospace & Industrial $ 27,466 $ 26,545 Defense Electronics 48,081 23,368 Naval & Power 35,191 37,937 Corporate and other (1) (10,777) (9,235) Total consolidated $ 99,961 $ 78,615 (1) Includes pension and other postretirement benefit expense, certain environmental costs related to remediation at legacy sites, and certain other expenses.
Reconciliation of Operating Profit (Loss) from Segments to Consolidated	Adjustments to reconcile operating income to earnings before income taxes are as follows: Three Months Ended March 31, (In thousands) 2024 2023 Total operating income $ 99,961 $ 78,615 Interest expense 10,570 12,944 Other income, net 9,608 7,767 Earnings before income taxes $ 98,999 $ 73,438
Reconciliation Of Assets From Segment To Consolidated	(In thousands) March 31, 2024 December 31, 2023 Identifiable assets Aerospace & Industrial $ 1,080,200 $ 1,077,808 Defense Electronics 1,520,096 1,517,877 Naval & Power 1,543,826 1,496,063 Corporate and Other 467,960 529,221 Total consolidated $ 4,612,082 $ 4,620,969

ACCUMULATED OTHER COMPREHENSI_2

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) (Table)	3 Months Ended
	Mar. 31, 2024
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, 2022 $ (160,807) $ (98,109) $ (258,916) Other comprehensive income (loss) before reclassifications (1) 37,519 8,218 45,737 Amounts reclassified from accumulated other comprehensive loss (1) — (44) (44) Net current period other comprehensive income (loss) 37,519 8,174 45,693 December 31, 2023 $ (123,288) $ (89,935) $ (213,223) Other comprehensive income (loss) before reclassifications (1) (15,579) 744 (14,835) Amounts reclassified from accumulated other comprehensive loss (1) — (197) (197) Net current period other comprehensive income (loss) (15,579) 547 (15,032) March 31, 2024 $ (138,867) $ (89,388) $ (228,255) (1) All amounts are after tax.

REVENUE DISAGGREGATION OF REVEN

REVENUE DISAGGREGATION OF REVENUE (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Disaggregation of Revenue [Line Items]
Net sales	$ 713,167	$ 630,860
Aerospace & Defense
Disaggregation of Revenue [Line Items]
Net sales	490,256	408,581
Commercial [Member]
Disaggregation of Revenue [Line Items]
Net sales	222,911	222,279
Aerospace Defense [Member] | Aerospace & Defense
Disaggregation of Revenue [Line Items]
Net sales	132,074	99,879
Ground Defense [Member] | Aerospace & Defense
Disaggregation of Revenue [Line Items]
Net sales	90,760	66,256
Naval Defense [Member] | Aerospace & Defense
Disaggregation of Revenue [Line Items]
Net sales	177,647	171,956
Commercial Aerospace [Member] | Aerospace & Defense
Disaggregation of Revenue [Line Items]
Net sales	89,775	70,490
Power &Process [Member] | Commercial [Member]
Disaggregation of Revenue [Line Items]
Net sales	124,039	120,339
General Industrial [Member] | Commercial [Member]
Disaggregation of Revenue [Line Items]
Net sales	$ 98,872	$ 101,940
Transferred over Time [Member]
Disaggregation of Revenue [Line Items]
Net Sales, Net, Percent	49%	49%
Transferred at Point in Time [Member]
Disaggregation of Revenue [Line Items]
Net Sales, Net, Percent	51%	51%

REVENUE ADDITIONAL DETAILS (Det

REVENUE ADDITIONAL DETAILS (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Revenue from Contract with Customer [Abstract]
Revenue, Remaining Performance Obligation, Amount	$ 3,100
Revenue, Remaining Performance Obligation, Percentage	90%
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Explanation	36 months
Contract with Customer, Liability, Revenue Recognized	$ 90	$ 89

RECEIVABLES (Detail)

RECEIVABLES (Detail) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Billed receivables:
Trade and other receivables	$ 446,747	$ 427,830
Unbilled receivables:
Recoverable costs and estimated earnings not billed	334,671	309,561
Contract Receivable, Progress Payment Offset	(230)	(687)
Net unbilled receivables	334,441	308,874
Less: Allowance for doubtful accounts	(4,526)	(4,026)
Receivables, net	$ 776,662	$ 732,678

INVENTORIES (Detail)

INVENTORIES (Detail) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Inventory, Net [Abstract]
Inventory, Raw Materials, Net of Reserves	$ 266,413	$ 239,313
Inventory, Work in Process, Net of Reserves	112,605	103,750
Inventory, Finished Goods, Net of Reserves	134,211	126,174
Inventory For Long-term Contracts Or Programs, Net Of Reserves	40,689	43,255
Inventories, Net of Reserves	553,918	512,492
Progress Payments Netted Against Inventory for Long-term Contracts or Programs	(881)	(2,459)
Inventories, net	$ 553,037	$ 510,033

GOODWILL (Detail)

GOODWILL (Detail) $ in Thousands	3 Months Ended
	Mar. 31, 2024 USD ($)
Goodwill [Roll Forward]
December 31, 2023	$ 1,558,826
Foreign currency translation adjustment	(6,483)
March 31, 2024	1,552,343
Aerospace & Industrial
Goodwill [Roll Forward]
December 31, 2023	325,131
Foreign currency translation adjustment	(734)
March 31, 2024	324,397
Defense Electronics
Goodwill [Roll Forward]
December 31, 2023	710,378
Foreign currency translation adjustment	(4,027)
March 31, 2024	706,351
Naval & Power
Goodwill [Roll Forward]
December 31, 2023	523,317
Foreign currency translation adjustment	(1,722)
March 31, 2024	$ 521,595

OTHER INTANGIBLE ASSETS, NET (D

OTHER INTANGIBLE ASSETS, NET (Detail) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Finite Lived Intangible Assets [Line Items]
Gross	$ 1,174,314	$ 1,177,449
Accumulated Amortization	(631,979)	(619,837)
Net	542,335	557,612
Technology [Member]
Finite Lived Intangible Assets [Line Items]
Gross	307,207	308,256
Accumulated Amortization	(198,552)	(195,446)
Net	108,655	112,810
Customer Relationships [Member]
Finite Lived Intangible Assets [Line Items]
Gross	669,065	670,966
Accumulated Amortization	(346,171)	(339,325)
Net	322,894	331,641
Contract and Program Intangible Assets [Member]
Finite Lived Intangible Assets [Line Items]
Gross	144,000	144,000
Accumulated Amortization	(43,200)	(41,400)
Net	100,800	102,600
Other Intangible Assets [Member]
Finite Lived Intangible Assets [Line Items]
Gross	54,042	54,227
Accumulated Amortization	(44,056)	(43,666)
Net	$ 9,986	$ 10,561

OTHER INTANGIBLE ASSETS, NET (N

OTHER INTANGIBLE ASSETS, NET (Narrative) (Detail) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Finite Lived Intangible Assets [Line Items]
Amortization expense	$ 14	$ 16
Future amortization expense in remainder of fiscal year	57
Future amortization expense in year one	54
Future amortization expense in year two	53
Future amortization expense in year three	50
Future amortization expense in year four	$ 44

FAIR VALUE OF FINANCIAL INSTR_3

FAIR VALUE OF FINANCIAL INSTRUMENTS (Debt) (Detail) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Carrying Value	$ 1,050,009	$ 1,050,362
Estimated Fair Value	967,136	977,597
Long-term Debt, Gross	1,047,500	1,047,500
Debt Issuance Costs, Net	(1,487)	(1,541)
Deferred Gain (Loss) on Discontinuation of Interest Rate Fair Value Hedge	3,996	4,403
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	$ 88,655	88,243
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	$ 194,444	195,556
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	$ 64,289	64,801
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	$ 85,213	85,999
Debt Instrument, Interest Rate, Stated Percentage	4.11%
3.10% Senior Notes [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Carrying Value	$ 150,000	150,000
Estimated Fair Value	$ 130,433	131,942
Debt Instrument, Interest Rate, Stated Percentage	3.10%
3.20% Senior Notes [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Carrying Value	$ 150,000	150,000
Estimated Fair Value	$ 125,714	127,649
Debt Instrument, Interest Rate, Stated Percentage	3.20%
4.49% Senior Notes [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Carrying Value	$ 200,000	200,000
Estimated Fair Value	$ 184,346	187,584
Debt Instrument, Interest Rate, Stated Percentage	4.49%
4.64% Senior Notes [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Carrying Value	$ 100,000	100,000
Estimated Fair Value	$ 91,533	92,961
Debt Instrument, Interest Rate, Stated Percentage	4.64%
Long-term Debt, gross [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Estimated Fair Value	$ 964,627	$ 974,735

PENSION AND OTHER POSTRETIREM_3

PENSION AND OTHER POSTRETIREMENT BENEFIT PLANS (Detail) - Pension Plans Defined Benefit [Member] - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Defined Benefit Plan Disclosure [Line Items]
Service cost	$ 4,282	$ 4,127
Interest cost	8,593	8,790
Expected return on plan assets	(16,553)	(15,820)
Amortization of prior service cost	(8)	(33)
Amortization of unrecognized actuarial loss	266	77
Defined Benefit Plan, Net Periodic Benefit Cost (Credit), Total	$ (3,420)	$ (2,859)

PENSION AND OTHER POSTRETIREM_4

PENSION AND OTHER POSTRETIREMENT BENEFIT PLANS (Additional) (Detail) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Defined Contribution Plan Disclosure [Line Items]
Defined Contribution Plan, Employer Contribution, Percentage, Maximum	7%
Defined Contribution Plan, Cost	$ 7.6	$ 6.1

EARNINGS PER SHARE (Detail)

EARNINGS PER SHARE (Detail) - shares shares in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Earnings Per Share Reconciliation [Abstract]
Basic weighted-average shares outstanding (shares)	38,254	38,303
Incremental Common Shares Attributable to Dilutive Effect of Share-based Payment Arrangements	177	213
Diluted weighted-average shares outstanding (shares)	38,431	38,516

EARNINGS PER SHARE EARNINGS PER

EARNINGS PER SHARE EARNINGS PER SHARE (Anti-dilutive) (Details) - shares	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	59,000	24,000

SEGMENT INFORMATION (Detail)

SEGMENT INFORMATION (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2023
Segment Reporting Information [Line Items]
Net sales	$ 713,167	$ 630,860
Operating income (expense)	99,961	78,615
Identifiable assets	4,612,082		$ 4,620,969
Intersegment Eliminations [Member]
Segment Reporting Information [Line Items]
Net sales	(1,076)	(2,610)
Operating Segments | Aerospace & Industrial
Segment Reporting Information [Line Items]
Net sales	219,547	203,586
Operating income (expense)	27,466	26,545
Identifiable assets	1,080,200		1,077,808
Operating Segments | Defense Electronics
Segment Reporting Information [Line Items]
Net sales	212,483	163,070
Operating income (expense)	48,081	23,368
Identifiable assets	1,520,096		1,517,877
Operating Segments | Naval & Power
Segment Reporting Information [Line Items]
Net sales	282,213	266,814
Operating income (expense)	35,191	37,937
Identifiable assets	1,543,826		1,496,063
Operating Segments | Corporate and Other
Segment Reporting Information [Line Items]
Operating income (expense)	(10,777)	$ (9,235)
Identifiable assets	$ 467,960		$ 529,221

SEGMENT INFORMATION (Reconcilia

SEGMENT INFORMATION (Reconciliation) (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Segment Reporting [Abstract]
Total operating income	$ 99,961	$ 78,615
Interest expense	(10,570)	(12,944)
Other income, net	9,608	7,767
Earnings before income taxes	$ 98,999	$ 73,438

ACCUMULATED OTHER COMPREHENSI_3

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) (Detail) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2023
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance	$ (213,223)	$ (258,916)	$ (258,916)
Other comprehensive income (loss) before reclassifications	(14,835)		45,737
Amounts reclassified from accumulated other comprehensive loss	(197)		(44)
Other comprehensive income (loss), net of tax	(15,032)	14,474	45,693
Ending balance	(228,255)		(213,223)
Foreign Currency Translation Adjustments, Net [Member]
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance	(123,288)	(160,807)	(160,807)
Other comprehensive income (loss) before reclassifications	(15,579)		37,519
Amounts reclassified from accumulated other comprehensive loss	0		0
Other comprehensive income (loss), net of tax	(15,579)		37,519
Ending balance	(138,867)		(123,288)
Total Pension and Postretirment Adjustments, Net [Member]
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance	(89,935)	$ (98,109)	(98,109)
Other comprehensive income (loss) before reclassifications	744		8,218
Amounts reclassified from accumulated other comprehensive loss	(197)		(44)
Other comprehensive income (loss), net of tax	547		8,174
Ending balance	$ (89,388)		$ (89,935)

CONTINGENCIES AND COMMITMENTS (

CONTINGENCIES AND COMMITMENTS (Detail) - USD ($) $ in Millions	Mar. 31, 2024	Dec. 31, 2023
Standby Letters Of Credit
Loss Contingencies [Line Items]
Letters of credit, outstanding	$ 19	$ 20
FinancialStandbyLetterOfCreditMember
Loss Contingencies [Line Items]
Letters of credit, outstanding	16
Surety Bond
Loss Contingencies [Line Items]
Surety bond outstanding	$ 35

SUBSEQUENT EVENTS (Details)

SUBSEQUENT EVENTS (Details) - USD ($) $ in Thousands		3 Months Ended		12 Months Ended
	Apr. 01, 2024	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2023
Subsequent Event [Line Items]
Net sales		$ 713,167	$ 630,860
WSC, Inc.
Subsequent Event [Line Items]
Net sales				$ 15,000
WSC, Inc. | Subsequent Event [Member]
Subsequent Event [Line Items]
Business Combination, Consideration Transferred	$ 34,000