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GOODWILL | 6 Months Ended
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Jun. 30, 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 six months ended June 30, 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 |
Acquisitions | — |  |  | — |  |  | 19,971 |  |  | 19,971 |
Foreign currency translation adjustment | (764) |  |  | (4,690) |  |  | (2,339) |  |  | (7,793) |
June 30, 2024 | $ | 324,367 |  |  | $ | 705,688 |  |  | $ | 540,949 |  |  | $ | 1,571,004 |

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