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SEGMENT INFORMATION
 12 Months Ended
Dec. 31, 2025
Segment Reporting [Abstract]  
SEGMENT INFORMATION
17. SEGMENT INFORMATION

The Corporation’s segments are composed of similar product groupings that serve the same or similar end markets. Based on this approach, the Corporation has three reportable segments: Aerospace & Industrial, Defense Electronics, and Naval & Power, as described below in further detail.

The Aerospace & Industrial reportable segment is comprised of businesses that provide a diversified offering of highly engineered products and services supporting critical applications primarily across the commercial aerospace and general industrial markets, and to a lesser extent, the defense markets. The products offered include sensors, controls, electro-mechanical actuation components, surface technology services such as shot peening, laser peening, and engineered coatings, and industrial products such as power management electronics, traction inverters, transmission shifters, and control systems.

The Defense Electronics reportable segment is comprised of businesses that primarily provide products to the defense markets and to a lesser extent the commercial aerospace market. The products offered include commercial off-the-shelf ("COTS") embedded computing board level modules, integrated subsystems, turret aiming and stabilization products, tactical
communications solutions for battlefield network management, weapons handling systems, avionics and electronics, flight test equipment, and aircraft data management solutions.

The Naval & Power reportable segment is comprised of businesses that primarily provide products to the naval defense and power & process markets, and to a lesser extent, the aerospace defense markets. The products offered include main coolant pumps, power-dense compact motors, generators, secondary propulsion systems, pumps, pump seals, valves, control rod drive mechanisms, fastening systems, specialized containment doors, airlock hatches, spent fuel management products, fluid sealing products, reactor protection systems, and arresting systems.

The Corporation’s measure of segment profit or loss is operating income. Interest expense and income taxes are not reported on an operating segment basis as they are not considered in the segments’ performance evaluation by the Corporation’s chief operating decision-maker ("CODM"), its Chief Executive Officer. The CODM uses operating income to assess the performance of each segment by evaluating current period results against budget and prior period results when determining the allocation of operating and capital resources to each segment.

Operating results by reportable segment are as follows:
Year Ended December 31,
(In thousands)202520242023
Net sales
Aerospace & Industrial$977,188 $933,206 $889,744 
Defense Electronics1,021,820 914,358 818,547 
Naval & Power1,503,494 1,278,895 1,142,590 
Less: Intersegment Revenues(4,130)(5,270)(5,508)
Total net sales$3,498,372 $3,121,189 $2,845,373 
Cost of sales
Aerospace & Industrial$621,542 $600,131 $577,038 
Defense Electronics520,923 481,374 432,313 
Naval & Power1,027,850 868,109 761,202 
Total cost of sales$2,170,315 $1,949,614 $1,770,553 
Research and development expenses
Aerospace & Industrial$23,531 $26,729 $23,211 
Defense Electronics54,723 52,132 50,865 
Naval & Power15,688 11,435 10,793 
Total research and development expenses$93,942 $90,296 $84,869 
Selling expenses
Aerospace & Industrial$28,692 $25,614 $25,897 
Defense Electronics67,843 58,705 54,811 
Naval & Power69,164 58,332 54,847 
Total selling expenses$165,699 $142,651 $135,555 
General and administrative expenses
Aerospace & Industrial$133,926 $123,907 $118,320 
Defense Electronics99,974 95,472 88,783 
Naval & Power158,693 140,696 126,521 
Total general and administrative expenses$392,593 $360,075 $333,624 
Other segment items(2)
Aerospace & Industrial$3,331 $8,802 $— 
Defense Electronics341 1,936 — 
Naval & Power815 660 — 
Total other segment items$4,487 $11,398 $— 
Operating income
Aerospace & Industrial$166,166 $148,023 $145,278 
Defense Electronics278,016 224,739 191,775 
Naval & Power231,284 199,663 189,227 
Total Segment$675,466 $572,425 $526,280 
Corporate and Eliminations (1)
(41,945)(43,828)(41,678)
Total Consolidated$633,521 $528,597 $484,602 
Depreciation and amortization expense
Aerospace & Industrial$31,674 $32,217 $33,994 
Defense Electronics30,869 31,017 33,347 
Naval & Power59,325 41,499 46,165 
Corporate2,949 2,934 2,666 
Total Consolidated$124,817 $107,667 $116,172 
Capital expenditures
Aerospace & Industrial$31,411 $19,861 $17,067 
Defense Electronics12,719 11,180 5,573 
Naval & Power42,188 25,952 18,112 
Corporate3,374 3,981 3,914 
Total Consolidated$89,692 $60,974 $44,666 
(1) Corporate and Eliminations includes pension expense, environmental remediation and administrative expenses, legal, and other expenses.
(2) Other segment items includes restructuring expenses associated with the 2024 Restructuring Program.
As of December 31,
(In thousands)20252024
Segment assets
Aerospace & Industrial$1,118,986 $1,090,739 
Defense Electronics1,557,858 1,446,949 
Naval & Power2,018,076 1,927,325 
Corporate526,372 520,691 
Total Consolidated$5,221,292 $4,985,704 
Reconciliations
Year Ended December 31,
(In thousands)202520242023
Earnings before taxes:
Total reportable segment operating income$675,466 $572,425 $526,280 
Corporate and Eliminations(41,945)(43,828)(41,678)
Interest expense43,148 44,869 51,393 
Other income, net29,637 38,328 29,861 
Earnings before income taxes$620,010 $522,056 $463,070 
As of December 31,
(In thousands)20252024
Assets:
Total assets for reportable segments$4,694,920 $4,465,013 
Non-segment cash125,918 165,762 
Other assets400,454 354,929 
Total consolidated assets$5,221,292 $4,985,704 
Geographic Information
Year Ended December 31,
(In thousands)202520242023
Revenues
United States of America$2,548,239 $2,287,285 $2,060,986 
United Kingdom197,489 134,621 115,078 
Other foreign countries752,644 699,283 669,309 
Consolidated total$3,498,372 $3,121,189 $2,845,373 
As of December 31,
(In thousands)20252024
Long-Lived Assets - Property, plant, and equipment, net
United States of America$281,277 $250,781 
United Kingdom27,385 26,244 
Other foreign countries73,538 62,093 
Consolidated total$382,200 $339,118