INCOME TAXES (Table)

12 Months Ended

Dec. 31, 2024

Income Tax Disclosure [Abstract]

Schedule Of Income Before Income Tax, Domestic and Foreign [Table Text Block]

Earnings before income taxes for the years ended December 31 consist of:

(In thousands)	2024		2023		2022
Domestic	$	323,898	$	300,200	$	239,356
Foreign(1)	198,158		162,870		149,839
	$	522,056	$	463,070	$	389,195

(1) The Corporation recognized a pre-tax loss of $5 million during the first quarter of 2022 pertaining to the sale of its industrial valve business in Germany.

Schedule Of Provision For Income Taxes [Table Text Block]

The provision for income taxes for the years ended December 31 consists of:

(In thousands)	2024		2023		2022
Current:
Federal	$	62,165	$	58,629	$	65,047
State	18,272		13,098		12,717
Foreign	43,200		36,791		34,520
Total current	123,637		108,518		112,284
Deferred:
Federal	(5,507)		(180)		(11,413)
State	950		507		(4,442)
Foreign	(2,002)		(284)		(1,582)
Total deferred	(6,559)		43		(17,437)
Provision for income taxes	$	117,078	$	108,561	$	94,847

Schedule Of Effective Income Tax Rate Reconciliation [Table Text Block]

The effective tax rate varies from the U.S. federal statutory tax rate for the years ended December 31, principally:

	2024		2023		2022
U.S. federal statutory tax rate	21.0	%	21.0	%	21.0	%
Add (deduct):
State and local taxes, net of federal benefit	3.0		2.3		1.7
Foreign earnings(1)	1.1		1.3		0.7
Foreign loss on sale	—		—		0.2
Financing arrangement(2)	(1.0)		—		—
R&D tax credits	(1.3)		(1.1)		(1.1)
Foreign-derived intangible income	(1.4)		(1.2)		(1.2)
All other, net	1.0		1.1		3.1
Effective tax rate	22.4	%	23.4	%	24.4	%

(1) Foreign earnings primarily include the net impact of differences between local statutory rates and the U.S. Federal statutory rate, the cost of repatriating foreign earnings, and the impact of changes to foreign valuation allowances.

(2) In an effort to simplify its organizational structure and facilitate repatriation, the Corporation underwent a substantial internal reorganization of its foreign ownership structure in 2024 that included the establishment of financing arrangements.

Schedule Of Deferred Tax Assets And Liabilities [Table Text Block]

The components of the Corporation’s deferred tax assets and liabilities as of December 31 are as follows:

(In thousands)	2024		2023
Deferred tax assets:
Capitalized R&D expenses	$	60,818	$	39,463
Operating lease liabilities	40,840		32,041
Inventories, net	23,926		24,282
Incentive compensation	11,011		9,314
Environmental reserves	9,324		8,949
Net operating loss	6,431		8,348
Other	34,264		30,417
Total deferred tax assets	186,614		152,814
Deferred tax liabilities:
Goodwill amortization	117,340		110,543
Other intangible amortization	62,277		53,551
Pension and other postretirement assets	46,828		37,870
Operating lease right-of-use assets, net	38,741		30,327
Withholding taxes	13,017		16,120
Depreciation	14,880		15,339
Contract revenue recognition	15,256		5,297
Other	3,776		2,863
Total deferred tax liabilities	312,115		271,910
Valuation allowance	4,988		4,892
Net deferred tax liabilities	$	130,489	$	123,988

Deferred tax assets and liabilities are reflected on the Corporation’s Consolidated Balance Sheets as of December 31 as follows:

(In thousands)	2024		2023
Net noncurrent deferred tax assets(1)	$	10,170	$	8,331
Net noncurrent deferred tax liabilities	140,659		132,319
Net deferred tax liabilities	$	130,489	$	123,988

(1)Amount is classified within the "Other Assets" caption in the Corporation's Consolidated Balance Sheets as of December 31, 2024 and December 31, 2023, respectively.

Summary Of Unrecognized Tax Benefits [Table Text Block]

A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows:

(In thousands)	2024		2023		2022
Balance as of January 1,	$	17,888	$	17,371	$	17,018
Additions for tax positions of prior periods	1,805		2,387		3,004
Reductions for tax positions of prior periods	(2,213)		(2,419)		(1,732)
Additions for tax positions related to the current year	1,747		1,744		1,068
Settlements	(215)		(1,195)		(1,987)
Balance as of December 31,	$	19,012	$	17,888	$	17,371

Summary Of Open Tax Years [Table Text Block]

The following describes the open tax years, by major tax jurisdiction, as of December 31, 2024:

United States (Federal)	2020	-	present
United States (Various states)	2013	-	present
United Kingdom	2023	-	present
Canada	2020	-	present