INVENTORIES

12 Months Ended

Dec. 31, 2025

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)	2025		2024
Raw materials	$	288,353	$	262,365
Work-in-process	130,522		108,088
Finished goods	146,666		134,624
Inventoried costs related to U.S. Government and other long-term contracts, net of progress payments	49,556		36,365
Inventories, net	$	615,097	$	541,442