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GOODWILL (Table)
 3 Months Ended
Mar. 31, 2014
Goodwill [Abstract]  
Schedule Of Goodwill
The changes in the carrying amount of goodwill for the three months ended March 31, 2014 are as follows:
 
(In thousands)
 
Commercial/ Industrial
 
Defense
 
Energy
 
Consolidated
December 31, 2013
$
347,819

 
$
485,431

 
$
277,179

 
$
1,110,429

Acquisitions
13,790

 
—

 
3,640

 
17,430

Goodwill adjustments
—

 
(254
)
 
—

 
(254
)
Foreign currency translation adjustment
453

 
(2,092
)
 
(361
)
 
(2,000
)
March 31, 2014
$
362,062

 
$
483,085

 
$
280,458

 
$
1,125,605



During the first quarter of 2014, the Corporation performed a goodwill impairment assessment as a result of the change in its reportable segments. The Corporation tests for goodwill impairment at the reporting unit level, which is one level below the operating segment. The Corporation allocated goodwill to each reporting unit based on its relative fair value and then compared the fair value of the reporting units to the reporting units carrying amount and determined that goodwill was not impaired since the fair values of each of the reporting units substantially exceeded their carrying amounts, with the exception of the Oil and Gas reporting unit, in the Energy segment. Based on the results of our impairment analysis, the Corporation does not believe that an impairment exists. For further discussion on the Corporation’s interim impairment analysis please refer to our Critical Accounting Policy section in Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations.