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SEGMENT INFORMATION
 6 Months Ended
Jun. 30, 2023
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 EndedSix Months Ended
June 30,June 30,
(In thousands)2023202220232022
Net sales
Aerospace & Industrial$226,766 $209,311 $430,352 $401,161 
Defense Electronics198,407 150,404 361,477 294,342 
Naval & Power280,731 251,313 547,545 476,628 
Less: Intersegment revenues(1,508)(1,671)(4,118)(3,313)
Total consolidated$704,396 $609,357 $1,335,256 $1,168,818 
Operating income (expense)
Aerospace & Industrial$35,665 $32,464 $62,210 $57,317 
Defense Electronics43,180 24,460 66,548 47,750 
Naval & Power46,782 50,001 84,719 77,289 
Corporate and other (1)
(12,852)(8,820)(22,087)(23,741)
Total consolidated$112,775 $98,105 $191,390 $158,615 
(1) 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 EndedSix Months Ended
June 30,June 30,
(In thousands)2023202220232022
Total operating income$112,775 $98,105 $191,390 $158,615 
Interest expense14,992 9,788 27,936 19,318 
Other income, net7,954 4,555 15,721 7,552 
Earnings before income taxes$105,737 $92,872 $179,175 $146,849 

(In thousands)June 30, 2023December 31, 2022
Identifiable assets
Aerospace & Industrial$1,064,442 $1,041,562 
Defense Electronics1,567,053 1,546,331 
Naval & Power1,517,090 1,488,867 
Corporate and Other292,513 372,842 
Total consolidated$4,441,098 $4,449,602