GOODWILL

9 Months Ended

Sep. 30, 2023

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 nine months ended September 30, 2023 are as follows:

(In thousands)	Aerospace & Industrial		Defense Electronics		Naval & Power		Consolidated
December 31, 2022	$	321,550	$	702,786	$	520,299	$	1,544,635
Foreign currency translation adjustment	716		923		395		2,034
September 30, 2023	$	322,266	$	703,709	$	520,694	$	1,546,669