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 three months ended March 31, 2025 are as follows:


(In thousands)	Aerospace & Industrial		Defense Electronics		Naval & Power		Consolidated
December 31, 2024	$	323,504	$	701,719	$	650,495	$	1,675,718
Adjustments(1)	—		—		(10,787)		(10,787)
Foreign currency translation adjustment	1,810		3,219		3,648		8,677
March 31, 2025	$	325,314	$	704,938	$	643,356	$	1,673,608

(1)Amount includes post-closing purchase price adjustments related to the Corporation's acquisitions of WSC and Ultra Energy.