<SEC-DOCUMENT>0000930413-12-000121.txt : 20120227
<SEC-HEADER>0000930413-12-000121.hdr.sgml : 20120227
<ACCEPTANCE-DATETIME>20120110134545
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ACCESSION NUMBER:		0000930413-12-000121
CONFORMED SUBMISSION TYPE:	CORRESP
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20120110

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			CURTISS WRIGHT CORP
		CENTRAL INDEX KEY:			0000026324
		STANDARD INDUSTRIAL CLASSIFICATION:	MISC INDUSTRIAL & COMMERCIAL MACHINERY & EQUIPMENT [3590]
		IRS NUMBER:				130612970
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		CORRESP

	BUSINESS ADDRESS:	
		STREET 1:		10 WATERVIEW BOULEVARD
		STREET 2:		2ND FLOOR
		CITY:			PARSIPPANY
		STATE:			NJ
		ZIP:			07054
		BUSINESS PHONE:		9735413700

	MAIL ADDRESS:	
		STREET 1:		10 WATERVIEW BOULEVARD
		STREET 2:		2ND FLOOR
		CITY:			PARSIPPANY
		STATE:			NJ
		ZIP:			07054
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<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0"></P>

<P STYLE="font: 11pt Calibri, Halvetica, Sans-Serif; margin: 0">Via FedEx and EDGAR</P>

<P STYLE="font: 11pt Calibri, Halvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Calibri, Halvetica, Sans-Serif; margin: 0">January 10, 2012</P>

<P STYLE="font: 11pt Calibri, Halvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Calibri, Halvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Calibri, Halvetica, Sans-Serif; margin: 0">Mr. Terence O&rsquo;Brien</P>

<P STYLE="font: 11pt Calibri, Halvetica, Sans-Serif; margin: 0">Accounting Branch Chief</P>

<P STYLE="font: 11pt Calibri, Halvetica, Sans-Serif; margin: 0">Division of Corporation Finance<BR>
U.S. Securities &amp; Exchange Commission<BR>
100 F Street, NE<BR>
Washington, D.C.&nbsp;&nbsp;20549</P>

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    <TD STYLE="width: 5%;  font: 11pt/115% Calibri, Halvetica, Sans-Serif">RE:&nbsp;</TD>
    <TD STYLE="width: 95%;  font: 11pt/115% Calibri, Halvetica, Sans-Serif">Curtiss-Wright Corporation <BR> Form 10-K for the Fiscal Year Ended December 31, 2010 <BR> Filed February 25, 2011 <BR> File No. 1-00134</TD></TR>
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<P STYLE="font: 11pt Calibri, Halvetica, Sans-Serif; margin: 0 0 10pt"><br>
Dear Mr. O&rsquo;Brien:</P>

<P STYLE="font: 11pt Calibri, Halvetica, Sans-Serif; margin: 0 0 10pt">We are responding to your comment letter dated December
20, 2011 to Martin R. Benante, Chief Executive Officer of Curtiss-Wright Corporation relating to the above document.</P>

<P STYLE="font: 11pt Calibri, Halvetica, Sans-Serif; margin: 0 0 10pt">For ease of response, we have repeated the Staff&rsquo;s
comments in bold text preceding each response.</P>

<P STYLE="font: 11pt Calibri, Halvetica, Sans-Serif; margin: 0 0 10pt"><B><U>Form 10-K for the Fiscal Year Ended December 31, 2010</U></B></P>

<P STYLE="font: 11pt Calibri, Halvetica, Sans-Serif; margin: 0 0 10pt"><B><U>Results of Operations, page 33</U></B></P>

<P STYLE="font: 11pt Calibri, Halvetica, Sans-Serif; margin: 0 0 10pt 0.5in; text-indent: -0.25in"><B>1.<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Please tell us whether the reported backlog includes any amounts on government contracts that have not been funded. If applicable,
please quantify these amounts in future filings and provide a full definition of amounts included in backlog. Quantified disclosure
would also be appropriate if material amounts of previously reported backlog were ultimately cancelled to provide investors with
pertinent information regarding the variability and reliability of this data. </B></P>

<P STYLE="font: 11pt Calibri, Halvetica, Sans-Serif; margin: 0 0 10pt"><B>Response</B></P>

<P STYLE="font: 11pt Calibri, Halvetica, Sans-Serif; margin: 0 0 10pt 0.5in">We acknowledge the Staff&rsquo;s comments. Curtiss-Wright
is a subcontractor to prime contractors for the vast majority of our government business; as such our backlog is substantially
all funded. In our future filings, commencing with our 2011 Form 10-K, we will provide a full definition of amounts included in
our backlog as follows:</P>

<P STYLE="font: 11pt Calibri, Halvetica, Sans-Serif; margin: 0 0 10pt 0.5in"><I>Total backlog includes both funded (unfilled orders
for which funding is authorized, appropriated and contractually obligated by the customer) and unfunded backlog (firm orders for
which funding has not been appropriated and/or contractually obligated by the customer). Curtiss-Wright is a subcontractor to prime contractors
for the vast majority of our government business; as such substantially all amounts in backlog are funded. Backlog excludes unexercised
contract options and potential orders under ordering-type contracts (e.g. Indefinite Delivery / Indefinite Quantity). Backlog is
adjusted for changes in foreign exchange rates and is reduced for contract cancellations and terminations in the period in which
they occur.</I></P>

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<P STYLE="font: 11pt Calibri, Halvetica, Sans-Serif; margin: 0 0 10pt 0.5in">With respect to the cancellation of previously reported
backlog, there were no cancellations resulting in material adjustments to reported backlog in our 2010 Form 10-K. In future filings,
if material, we will disclose the effects of any cancellations to backlog.</P>

<P STYLE="font: 11pt Calibri, Halvetica, Sans-Serif; margin: 0 0 10pt"><B>&nbsp;</B></P>

<P STYLE="font: 11pt Calibri, Halvetica, Sans-Serif; margin: 0 0 10pt"><B><U>Revenue Recognition, page 42</U></B></P>

<P STYLE="font: 11pt Calibri, Halvetica, Sans-Serif; margin: 0 0 10pt 0.5in; text-indent: -0.25in"><B>2.<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>In future filings, if material, please disclose the effects to revisions to your estimates of completion. Refer to ASC 605-35-50-9</B></P>

<P STYLE="font: 11pt Calibri, Halvetica, Sans-Serif; margin: 0 0 10pt"><B>Response</B></P>

<P STYLE="font: 11pt Calibri, Halvetica, Sans-Serif; margin: 0 0 10pt 0.5in">We acknowledge the Staff&rsquo;s comments. There were
no revisions to our estimates of completion that were material to recognized revenue in our 2010 Form 10-K. In future filings,
if material, we will disclose the effects of revisions to our estimates of completion.</P>

<P STYLE="font: 11pt Calibri, Halvetica, Sans-Serif; margin: 0 0 10pt">&nbsp;</P>

<P STYLE="font: 11pt Calibri, Halvetica, Sans-Serif; margin: 0 0 10pt"><B><U>Receivables, page 61 </U></B></P>

<P STYLE="font: 11pt Calibri, Halvetica, Sans-Serif; margin: 0 0 0 0.5in; text-indent: -0.25in"><B>3.<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>If receivable amounts include amounts due under long-term contracts, state separately in the balance sheet or in a note
to the financial statements the following amounts:</B></P>

<P STYLE="font: 11pt Calibri, Halvetica, Sans-Serif; margin: 0 0 0 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 11pt Calibri, Halvetica, Sans-Serif; margin: 0 0 0 0.75in; text-indent: -0.28in"><FONT STYLE="font-family: Symbol">&#183;</FONT><FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><B>Balances billed but not paid by customers under retainage provisions in contracts.</B></P>

<P STYLE="font: 11pt Calibri, Halvetica, Sans-Serif; margin: 0 0 0 0.75in; text-indent: -0.28in"><FONT STYLE="font-family: Symbol">&#183;</FONT><FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><B>Billed or unbilled amounts representing claims or other similar items subject to uncertainty concerning their determination
or ultimate realization. Include a description of the nature and status of principal items comprising such amount.</B></P>

<P STYLE="font: 11pt Calibri, Halvetica, Sans-Serif; margin: 0 0 10pt 0.75in; text-indent: -0.28in"><FONT STYLE="font-family: Symbol">&#183;</FONT><FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><B>With respect to retainages and other unbilled amounts, also state the amounts included in each item which are expected
to be collected after one year. Also state, by year, if practicable, when the amounts of retainage are expected to be collected.
</B></P>

<P STYLE="font: 11pt Calibri, Halvetica, Sans-Serif; margin: 0 0 10pt"><B>Response</B></P>

<P STYLE="font: 11pt Calibri, Halvetica, Sans-Serif; margin: 0 0 10pt 0.5in">We acknowledge the Staff&rsquo;s comments. There were
no material billed or unbilled receivable amounts subject to retainage provisions or uncertainty concerning their determination
or ultimate realization in our 2010 Form 10-K. In future filings, if material, we will make the appropriate disclosures.</P>
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<P STYLE="font: 11pt Calibri, Halvetica, Sans-Serif; margin: 0 0 10pt 0.5in">With respect to retainages and other unbilled amounts
which are expected to be collected after one year, please note, Footnote 3 on page 61 of our 2010 Form 10-K states &ldquo;Substantially
all amounts of unbilled receivables are expected to be billed and collected in the subsequent year.&rdquo;</P>

<P STYLE="font: 11pt Calibri, Halvetica, Sans-Serif; margin: 0 0 10pt">&nbsp;</P>

<P STYLE="font: 11pt Calibri, Halvetica, Sans-Serif; margin: 0 0 10pt"><B><U>Inventory, page 61 </U></B></P>

<P STYLE="font: 11pt Calibri, Halvetica, Sans-Serif; margin: 0 0 10pt 0.5in; text-indent: -0.25in"><B>4.<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>In future filings please provide the footnote disclosure concerning long-term contracts required by items (i) and (ii) of
Rule 5-02 (6)(d)) of Regulation S-X.</B></P>

<P STYLE="font: 11pt Calibri, Halvetica, Sans-Serif; margin: 0 0 10pt"><B>Response</B></P>

<P STYLE="font: 11pt Calibri, Halvetica, Sans-Serif; margin: 0 0 10pt 0.5in">We acknowledge the Staff&rsquo;s comments. In our
future filings, commencing with our 2011 Form 10-K, we will expand our inventory footnote as follows:</P>

<P STYLE="font: 11pt Calibri, Halvetica, Sans-Serif; margin: 0 0 0 0.5in"><I>As of December 31, 20XX and 20XX, inventory also includes
capitalized contract development costs of $XX million and $XX million, respectively, related to certain aerospace and defense programs.
These capitalized costs will be liquidated as production units are delivered to the customer. As of December 31, 20XX and 20XX,
$XX million and $XX million, are scheduled to be liquidated under existing firm orders.</I></P>

<P STYLE="font: 11pt Calibri, Halvetica, Sans-Serif; margin: 0 0 0 0.5in">&nbsp;</P>

<P STYLE="font: 11pt Calibri, Halvetica, Sans-Serif; margin: 0 0 10pt 0.5in">Please note, additional relevant disclosure can be
found within our Summary of Significant Accounting Policies, Pre-Contract Costs, page 52 of our 2010 Form 10-K.</P>

<P STYLE="font: 11pt Calibri, Halvetica, Sans-Serif; margin: 0 0 10pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 11pt Calibri, Halvetica, Sans-Serif; margin: 0 0 10pt"><B><U>Form 10-Q for the Fiscal Quarter Ended September 30,
2011</U></B></P>

<P STYLE="font: 11pt Calibri, Halvetica, Sans-Serif; margin: 0 0 10pt"><B><U>Liquidity and Capital Resources, page 39</U></B></P>

<P STYLE="font: 11pt Calibri, Halvetica, Sans-Serif; margin: 0 0 10pt 0.5in; text-indent: -0.25in"><B>5.<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>You state on page 40 of your 2010 Form 10-K that you were in compliance with your debt covenants. However, you are silent
in your quarterly reports whether you were in compliance. Please tell us and disclose in future filings whether you were in compliance
with your debt covenants.</B></P>

<P STYLE="font: 11pt Calibri, Halvetica, Sans-Serif; margin: 0 0 10pt"><B>Response</B></P>

<P STYLE="font: 11pt Calibri, Halvetica, Sans-Serif; margin: 0 0 10pt 0.5in">We acknowledge the Staff&rsquo;s comments. We were
in compliance with all debt covenants throughout 2011. We will provide this disclosure in our 2011 Form 10-K and our future quarterly
filings on Form 10-Q.</P>

<P STYLE="font: 11pt Calibri, Halvetica, Sans-Serif; margin: 0 0 10pt">&nbsp;</P>

<P STYLE="font: 11pt Calibri, Halvetica, Sans-Serif; margin: 0 0 10pt 1in; text-indent: -1in">In connection with responding to
your comments, we acknowledge that:</P>

<UL TYPE="DISC" STYLE="margin-top: 0in">

<LI STYLE="font: 11pt Calibri, Halvetica, Sans-Serif; margin: 0">the Company is responsible for the adequacy and accuracy of the disclosure in the filing;</LI>

</UL>

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<br>


<UL TYPE="DISC" STYLE="margin-top: 0in">

<LI STYLE="font: 11pt Calibri, Halvetica, Sans-Serif; margin: 0">Staff comments or changes to disclosure in response to
  Staff comments do not foreclose the Commission from taking any action with
  respect to the filing; and
</LI>
<br>
<br>

<LI STYLE="font: 11pt Calibri, Halvetica, Sans-Serif; margin: 0">the Company may not assert Staff comments as a defense
  in any proceeding initiated by the Commission or any person under the federal
  securities laws of the United States.</LI>

</UL>

<P STYLE="font: 11pt Calibri, Halvetica, Sans-Serif; margin: 0 0 10pt">&nbsp;</P>

<P STYLE="font: 11pt Calibri, Halvetica, Sans-Serif; margin: 0 0 10pt">Should you have any questions regarding any of the items
addressed in this letter, please contact me at (973) 541-3710, or in my absence, Glenn Coleman at (973) 541-3720.</P>

<P STYLE="font: 11pt Calibri, Halvetica, Sans-Serif; margin: 0 0 10pt">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 11pt Calibri, Halvetica, Sans-Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 10%;">&nbsp;</TD>
    <TD STYLE="width: 10%;">&nbsp;</TD>
    <TD STYLE="width: 10%;">&nbsp;</TD>
    <TD STYLE="width: 1%;">&nbsp;</TD>
    <TD STYLE="width: 1%;">&nbsp;</TD>
    <TD STYLE="width: 1%;">&nbsp;</TD>
    <TD STYLE="width: 15%;">&nbsp;</TD>
    <TD STYLE="width: 52%;">Very truly yours,</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 3pt">/s/<U>&nbsp;Glenn E. Tynan&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>Glenn E. Tynan, VP Finance and</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>Chief Financial Officer</TD></TR>
</TABLE>
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