INVENTORIES

12 Months Ended

Dec. 31, 2024

Inventory, Net [Abstract]

INVENTORIES

5. INVENTORIES

Inventoried costs contain amounts relating to long-term contracts and programs with long production cycles, a portion of which will not be realized within one year. Long-term contract inventory includes an immaterial amount of claims or other similar items subject to uncertainty concerning their determination or realization. Inventories are valued at the lower of cost or net realizable value.

The composition of inventories as of December 31 is as follows:

(In thousands)	2024		2023
Raw materials	$	262,365	$	239,313
Work-in-process	108,088		103,750
Finished goods	134,624		126,174
Inventoried costs related to U.S. Government and other long-term contracts, net of progress payments	36,365		40,796
Inventories, net	$	541,442	$	510,033