Document and Entity Information - USD ($) $ in Billions	12 Months Ended
Document and Entity Information - USD ($) $ in Billions	Dec. 31, 2019	Jan. 31, 2020	Jun. 30, 2019
Cover page.
Document Type	10-K
Document Period End Date	Dec. 31, 2019
Document Annual Report	true
Document Transition Report	false
Entity File Number	1-134
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	13-0612970
Entity Address, Address Line One	130 Harbour Place Drive, Suite 300
Entity Address, City or Town	Davidson,
Entity Address, State or Province	NC
Entity Address, Postal Zip Code	28036
City Area Code	704
Local Phone Number	869-4600
Title of 12(b) Security	Common Stock
Trading Symbol	CW
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Well-known Seasoned Issuer	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Public Float			$ 4.7
Entity Common Stock, Shares Outstanding		42,708,603
Entity Registrant Name	Curtiss Wright Corporation
Entity Central Index Key	0000026324
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	FY
Amendment Flag	false

CONSOLIDATED STATEMENTS OF EARNINGS - USD ($) shares in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Net Sales
Net Sales	$ 2,487,961,000	$ 2,411,835,000	$ 2,271,026,000
Total net sales	2,487,961,000	2,411,835,000	2,271,026,000
Cost of Revenue [Abstract]
Total cost of sales	1,589,216,000	1,540,574,000	1,470,241,000
Gross profit	898,745,000	871,261,000	800,785,000
Research and development expenses	(72,520,000)	(64,525,000)	(61,393,000)
Selling expenses	(120,861,000)	(126,641,000)	(121,873,000)
General and administrative expenses	(301,411,000)	(306,469,000)	(292,399,000)
Operating income	403,953,000	373,626,000	325,120,000
Interest expense	(31,347,000)	(33,983,000)	(41,471,000)
Other income, net	23,856,000	16,596,000	15,970,000
Earnings before income taxes	396,462,000	356,239,000	299,619,000
Provision for income taxes	(88,879,000)	(80,490,000)	(84,728,000)
Net earnings	$ 307,583,000	$ 275,749,000	$ 214,891,000
Basic earnings per share
Basic earnings per share	$ 7.20	$ 6.28	$ 4.86
Diluted earnings per share
Diluted earnings per share	7.15	6.22	4.80
Dividends per share	$ 0.66	$ 0.60	$ 0.56
Weighted average shares outstanding:
Basic	42,739	43,892	44,182
Diluted	43,016	44,316	44,761
Product [Member]
Net Sales
Net Sales	$ 2,073,530,000	$ 1,993,249,000	$ 1,854,216,000
Cost of Revenue [Abstract]
Cost of Goods and Services Sold	1,329,761,000	1,272,599,000	1,198,881,000
Service [Member]
Net Sales
Net Sales	414,431,000	418,586,000	416,810,000
Cost of Revenue [Abstract]
Cost of Goods and Services Sold	$ 259,455,000	$ 267,975,000	$ 271,360,000

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($)
$ in Thousands

12 Months Ended

Dec. 31, 2019

Dec. 31, 2018

Dec. 31, 2017

Statement of Comprehensive Income [Abstract]

Net earnings

$ 307,583

$ 275,749

$ 214,891

Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent [Abstract]

Foreign currency translation, net of tax

^[1]

18,447

(52,440)

77,942

Pension and postretirement adjustments, net of tax

^[2]

(29,017)

(19,167)

(3,026)

Other Comprehensive Income (Loss), Net of Tax

(10,570)

(71,607)

74,916

Comprehensive Income

$ 297,013

$ 204,142

$ 289,807

[1]	The tax benefit (expense) included in other comprehensive income for foreign currency translation adjustments for 2019, 2018, and 2017 were ($0.1) million, $0.8 million, and ($1.9) million, respectively.
[2]	The tax benefit included in other comprehensive income for pension and postretirement adjustments for 2019, 2018, and 2017 were $8.5 million, $7.0 million, and $2.8 million, respectively.

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References + Details

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME Statement - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Statement of Comprehensive Income [Abstract]
Other Comprehensive Income (Loss), Foreign Currency Translation Adjustment, Tax	$ (0.1)	$ 0.8	$ (1.9)
Other Comprehensive Income (Loss), Pension and Other Postretirement Benefit Plans, Tax	$ 8.5	$ 7.0	$ 2.8

CONSOLIDATED BALANCE SHEET - USD ($)	Dec. 31, 2019	Dec. 31, 2018
Current Assets:
Cash and cash equivalents	$ 391,033,000	$ 276,066,000
Receivables, net	632,194,000	593,755,000
Inventories, net	424,835,000	423,426,000
Other current assets	81,729,000	50,719,000
Total current assets	1,529,791,000	1,343,966,000
Property, plant, and equipment, net	385,593,000	374,660,000
Goodwill	1,166,680,000	1,088,032,000
Other intangible assets, net	479,907,000	429,567,000
Operating lease right-of-use assets, net	165,490,000	0
Other assets	36,800,000	19,160,000
Total assets	3,764,261,000	3,255,385,000
Current liabilities:
Current portion of long-term debt and short-term debt	0	243,000
Accounts payable	222,000,000	232,983,000
Accrued expenses	164,744,000	166,954,000
Income taxes payable	7,670,000	5,811,000
Deferred revenue	276,115,000	236,508,000
Other current liabilities	74,202,000	44,829,000
Total current liabilities	744,731,000	687,328,000
Long-term debt	760,639,000	762,313,000
Deferred tax liabilities, net	80,159,000	47,121,000
Accrued pension and other postretirement benefit costs	138,635,000	101,227,000
Operating lease, Long-term operating lease liability	145,124,000	0
Long-term portion of environmental reserves	15,026,000	15,777,000
Other liabilities	105,575,000	110,838,000
Total liabilities	1,989,889,000	1,724,604,000
Stockholders' Equity
Common stock, $1 par value,100,000,000 shares authorized as of December 31, 2019 and December 31, 2018; 49,187,378 shares issued as of December 31, 2019 and December 31, 2018; outstanding shares were 42,680,215 as of December 31, 2019 and 42,772,417 as of December 31, 2018	49,187,000	49,187,000
Additional paid in capital	116,070,000	118,234,000
Retained earnings	2,497,111,000	2,191,471,000
Accumulated other comprehensive loss	(325,274,000)	(288,447,000)
Common treasury stock, at cost (6,507,163 shares as of December 31, 2019 and 6,414,961 shares as of December 31, 2018)	(562,722,000)	(539,664,000)
Total stockholders' equity	1,774,372,000	1,530,781,000
Total liabilities and stockholders' equity	$ 3,764,261,000	$ 3,255,385,000

CONSOLIDATED BALANCE SHEETS PARENTHETICAL - $ / shares	Dec. 31, 2019	Dec. 31, 2018
Common Stock Par Value	$ 1	$ 1
Common stock authorized	100,000,000	100,000,000
CommonStockSharesIssued	49,187,378	49,187,378
CommonStockSharesOutstanding	42,680,215	42,772,417
TreasuryStockShares	6,507,163	6,414,961

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Cash flows from operating activities:
Net earnings	$ 307,583	$ 275,749	$ 214,891
Adjustments to reconcile net earnings to net cash provided by operating activities:
Depreciation and amortization	102,412	102,949	99,995
(Gain) loss on sale of businesses	0	(1,735)	(875)
(Gain) loss on sale/disposal of long-lived assets	(11,054)	(1,120)	29
Deferred income taxes	40,787	8,562	(5,782)
Share-based compensation	13,669	14,094	11,572
Change in operating assets and liabilities, net of businesses acquired and divested:
Accounts receivable, net	(12,613)	(57,492)	(16,388)
Inventories, net	(3,485)	(41,197)	19,711
Progress Payments	(4,834)	(11,121)	(774)
Accounts payable and accrued expenses	(18,629)	48,930	4,323
Deferred revenue	36,134	23,082	36,898
Income taxes	(15,625)	(8,847)	(5,479)
Net pension and postretirement liabilities	(1,310)	(43,759)	3,481
Other current and long-term assets and liabilities	(11,631)	28,178	27,110
Net cash provided by operating activities	421,404	336,273	388,712
Cash flows from investing activities:
Proceeds from sales and disposals of long-lived assets	15,093	9,117	6,769
Additions to property, plant, and equipment	(69,752)	(53,417)	(52,705)
Payments to Acquire Businesses, Gross	(185,209)	(210,167)	(232,630)
Payments for (Proceeds from) Other Investing Activities	172	1,049	(6,238)
Net cash used for investing activities	(240,040)	(255,516)	(272,328)
Cash flows from financing activities:
Borrowings under revolving credit facility	37,692	372,980	7,658
Payment of revolving credit facilities	(37,934)	(372,887)	(8,176)
Principal payments on debt	0	(50,000)	(150,000)
Repurchases of common stock	(50,661)	(198,592)	(52,127)
Proceeds from share-based compensation	11,770	11,940	14,179
Dividends paid	(28,200)	(26,328)	(24,740)
Proceeds from (Payments for) Other Financing Activities	(812)	(752)	(692)
Net cash provided by financing activities	(68,145)	(263,639)	(213,898)
Effect of exchange-rate changes on cash	1,748	(16,172)	18,786
Net increase (decrease) in cash and cash equivalents	114,967	(199,054)	(78,728)
Cash and cash equivalents at beginning of period	276,066	475,120	553,848
Cash and cash equivalents at end of period	391,033	276,066	475,120
Supplemental disclosure of non-cash investing activities:
Capital Expenditures Incurred but Not yet Paid	$ 2,015	$ 2,193	$ 976

STATEMENT OF STOCKHOLDERS' EQUITY - USD ($) $ in Thousands	Total	Common Stock Member	Additional Paid In Capital Member	Retained Earnings Member	Accumulated Other Comprehensive Income Member	Treasury Stock Member
Beginning Balance at Dec. 31, 2016		$ 49,187	$ 129,483	$ 1,754,907	$ (291,756)	$ (350,630)
Net earnings	$ 214,891			214,891
Other Comprehensive Income (Loss), Net of Tax	74,916				74,916
Dividends paid				(24,740)
Restricted Stock			(12,104)			12,105
Stock options exercised, net			(5,724)			19,902
Other			(2,237)	(734)		889
Share-based compensation			11,191			381
Repurchase of common stock						(52,127)
Ending Balance at Dec. 31, 2017		49,187	120,609	1,944,324	(216,840)	(369,480)
Net earnings	275,749			275,749
Other Comprehensive Income (Loss), Net of Tax	(71,607)				(71,607)
Dividends paid				(26,328)
Restricted Stock			(13,134)			13,134
Stock options exercised, net			(2,355)			14,294
Other			(752)			752
Share-based compensation			13,866			228
Repurchase of common stock						(198,592)
Ending Balance at Dec. 31, 2018	1,530,781	49,187	118,234	2,191,471	(288,447)	(539,664)
Cumulative Effect of New Accounting Principle in Period of Adoption \| Accounting Standards Update 2014-09 [Member]				(2,274)
Net earnings	307,583
Other Comprehensive Income (Loss), Net of Tax	(10,570)				(10,570)
Dividends paid				(28,200)
Restricted Stock			(10,483)			10,483
Stock options exercised, net			(4,226)			15,996
Other			(719)			719
Share-based compensation			13,264			405
Repurchase of common stock						(50,661)
Ending Balance at Dec. 31, 2019	$ 1,774,372	$ 49,187	$ 116,070	2,497,111	(325,274)	$ (562,722)
Cumulative Effect of New Accounting Principle in Period of Adoption \| Accounting Standards Update 2018-02 [Member]				$ 26,257	$ (26,257)

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

12 Months Ended

Dec. 31, 2019

Accounting Policies [Abstract]

Significant Accounting Policies

1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Nature of Operations

Curtiss-Wright Corporation and its subsidiaries (the Corporation or the Company) is a global, diversified manufacturing and service company that designs, manufactures, and overhauls precision components and provides highly engineered products and services to the aerospace, defense, general industrial, and power generation markets.

Principles of Consolidation

The consolidated financial statements include the accounts of the Corporation and its majority-owned subsidiaries. All intercompany transactions and accounts have been eliminated.

Use of Estimates

The financial statements of the Corporation have been prepared in conformity with accounting principles generally accepted in the United States of America (U.S. GAAP), which requires management to make estimates and judgments that affect the reported amount of assets, liabilities, revenue, and expenses and disclosure of contingent assets and liabilities in the accompanying financial statements. The most significant of these estimates includes the estimate of costs to complete long-term contracts, the estimate of useful lives for property, plant, and equipment, cash flow estimates used for testing the recoverability of assets, pension plan and postretirement obligation assumptions, estimates for inventory obsolescence, estimates for the valuation and useful lives of intangible assets and legal reserves. Actual results may differ from these estimates.

Cash and Cash Equivalents

Cash equivalents consist of money market funds and commercial paper that are readily convertible into cash, all with original maturity dates of three months or less.

Inventory

Inventories are stated at lower of cost or net realizable value. Production costs are comprised of direct material and labor and applicable manufacturing overhead.

Progress Payments

Certain long-term contracts provide for interim billings as costs are incurred on the respective contracts. Pursuant to contract provisions, agencies of the U.S. Government and other customers obtain control of promised goods or services to the extent that progress payments are received. Accordingly, these receipts have been reported as a reduction of unbilled receivables as presented in Note 4 to the Consolidated Financial Statements. In the event that progress payments received exceed revenue recognized to date on a specific contract, a contract liability has been established with such amount reported in the "Deferred revenue" line within the Consolidated Balance Sheet.

The Corporation also receives progress payments on development contracts related to certain aerospace and defense programs. Progress payments received on partially funded development contracts have been reported as a reduction of inventories, as presented in Note 5 to the Consolidated Financial Statements.

Property, Plant, and Equipment

Property, plant, and equipment are carried at cost less accumulated depreciation. Major renewals and betterments are capitalized, while maintenance and repairs that do not improve or extend the life of the asset are expensed in the period that they are incurred. Depreciation is computed using the straight-line method over the estimated useful lives of the respective assets.

Average useful lives for property, plant, and equipment are as follows:


Buildings and improvements			5 to 40 years
Machinery, equipment, and other			3 to 15 years

See Note 6 to the Consolidated Financial Statements for further information on property, plant, and equipment.

Intangible Assets

Intangible assets are generally the result of acquisitions and consist primarily of purchased technology, customer related intangibles, trademarks, and technology licenses. Intangible assets are amortized on a straight-line basis over their estimated useful lives, which range from 1 to 20 years. See Note 8 to the Consolidated Financial Statements for further information on other intangible assets.

Impairment of Long-Lived Assets

The Corporation reviews the recoverability of all long-lived assets, including the related useful lives, whenever events or changes in circumstances indicate that the carrying amount of a long-lived asset might not be recoverable. If required, the Corporation compares the estimated fair value determined by either the undiscounted future net cash flows or appraised value to the related asset’s carrying value to determine whether there has been an impairment. If an asset is considered impaired, the asset is written down to fair value in the period in which the impairment becomes known. The Corporation recognized no significant impairment charges on assets held in use during the years ended December 31, 2019, 2018, and 2017.

Goodwill

Goodwill results from business acquisitions. The Corporation accounts for business acquisitions by allocating the purchase price to the tangible and intangible assets acquired and liabilities assumed. Assets acquired and liabilities assumed are recorded at their fair values, and the excess of the purchase price over the amounts allocated is recorded as goodwill. The recoverability of goodwill is subject to an annual impairment test or whenever an event occurs or circumstances change that would more likely than not result in an impairment. The impairment test is based on the estimated fair value of the underlying businesses. The Corporation’s goodwill impairment test is performed annually in the fourth quarter of each year. See Note 7 to the Consolidated Financial Statements for further information on goodwill.

Fair Value of Financial Instruments

Accounting guidance requires certain disclosures regarding the fair value of financial instruments. Due to the short maturities of cash and cash equivalents, accounts receivable, accounts payable, and accrued expenses, the net book value of these financial instruments is deemed to approximate fair value. See Notes 10 and 13 to the Consolidated Financial Statements for further information on the Corporation's financial instruments.

Research and Development

The Corporation funds research and development programs for commercial products and independent research and development and bid and proposal work related to government contracts. Development costs include engineering for new customer requirements. Corporation-sponsored research and development costs are expensed as incurred.

Research and development costs associated with customer-sponsored programs are capitalized to inventory and are recorded in cost of sales when products are delivered or services performed. Funds received under shared development contracts are a reduction of the total development expenditures under the shared contract and are shown net as research and development costs.

Accounting for Share-Based Payments

The Corporation follows the fair value based method of accounting for share-based employee compensation, which requires the Corporation to expense all share-based employee compensation. Share-based employee compensation is a non-cash expense since the Corporation settles these obligations by issuing the shares of Curtiss-Wright Corporation instead of settling such obligations with cash payments.

Compensation expense for non-qualified share options, performance shares, and time-based restricted stock is recognized over the requisite service period for the entire award based on the grant date fair value.

Income Taxes

The Corporation accounts for income taxes using the asset and liability method. Under the asset and liability method, deferred tax assets and liabilities are recognized for future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. The effect on deferred tax assets and liabilities of a change in tax laws is recognized in the results of operations in the period the new laws are enacted. A valuation allowance is recorded to reduce the carrying amounts of deferred tax assets unless it is more likely than not that such assets will be realized.

The Corporation records amounts related to uncertain income tax positions by 1) prescribing a minimum recognition threshold a tax position is required to meet before being recognized in the financial statements and 2) the measurement of the income tax benefits recognized from such positions. The Corporation’s accounting policy is to classify uncertain income tax positions that are not expected to be resolved in one year as a non-current income tax liability and to classify interest and penalties as a component of interest expense and general and administrative expenses, respectively. See Note 12 to the Consolidated Financial Statements for further information.

Foreign Currency

For operations outside the United States of America that prepare financial statements in currencies other than the U.S. dollar, the Corporation translates assets and liabilities at period-end exchange rates and income statement amounts using weighted-average exchange rates for the period. The cumulative effect of translation adjustments is presented as a component of accumulated other comprehensive income (loss) within stockholders’ equity. This balance is primarily affected by foreign currency exchange rate fluctuations. (Gains) and losses from foreign currency transactions are included in General and administrative expenses in the Consolidated Statement of Earnings, which amounted to $7.2 million, $(4.5) million, and $5.4 million for the years ended December 31, 2019, 2018, and 2017, respectively.

Derivatives

Forward Foreign Exchange and Currency Option Contracts

The Corporation uses financial instruments, such as forward exchange and currency option contracts, to hedge a portion of existing and anticipated foreign currency denominated transactions. The purpose of the Corporation’s foreign currency risk management program is to reduce volatility in earnings caused by exchange rate fluctuations. All of the derivative financial instruments are recorded at fair value based upon quoted market prices for comparable instruments, with the gain or loss on these transactions recorded into earnings in the period in which they occur. These (gains) and losses are classified as General and administrative expenses in the Consolidated Statement of Earnings and amounted to ($2.1) million, $6.6 million, and ($0.3) million for the years ended December 31, 2019, 2018, and 2017, respectively. The Corporation does not use derivative financial instruments for trading or speculative purposes.

Interest Rate Risks and Related Strategies

The Corporation’s primary interest rate exposure results from changes in U.S. dollar interest rates. The Corporation’s policy is to manage interest cost using a mix of fixed and variable rate debt. The Corporation periodically uses interest rate swaps to manage such exposures. Under these interest rate swaps, the Corporation exchanges, at specified intervals, the difference between fixed and floating interest amounts calculated by reference to an agreed-upon notional principal amount.

For interest rate swaps designated as fair value hedges (i.e., hedges against the exposure to changes in the fair value of an asset or a liability or an identified portion thereof that is attributable to a particular risk), changes in the fair value of the interest rate swaps offset changes in the fair value of the fixed rate debt due to changes in market interest rates.

Recently Issued Accounting Standards

Recent accounting standards adopted

ASU 2016-02 - Leases - On January 1, 2019, the Corporation adopted ASC 842, Leases, using the optional transition method of adoption which permits the entity to continue presenting all periods prior to January 1, 2019 under previous lease accounting guidance. In conjunction with the adoption, the Corporation elected the package of practical expedients which permits the entity to forgo reassessment of conclusions reached regarding lease existence and lease classification under previous guidance, as well as the practical expedient to not separate non-lease components. Further, the Corporation made an accounting policy election to

account for short-term leases in a manner consistent with the methodology applied under previous guidance. The adoption of this standard resulted in an increase of approximately $151 million in both total assets and total liabilities in the Corporation’s Consolidated Balance Sheet as of January 1, 2019.

ASU 2018-02 - Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income - On January 1, 2019, the Corporation adopted ASU 2018-02, Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income, which permits the reclassification of tax effects stranded in accumulated other comprehensive income to retained earnings as a result of the 2017 Tax Cuts and Jobs Act (the Tax Act). The adoption of this standard resulted in a reclassification of $26 million from accumulated other comprehensive loss to retained earnings in the Corporation’s Consolidated Balance Sheet as of January 1, 2019.

ASU 2018-14 - Changes to the Disclosure Requirements for Defined Benefit Plans - In August 2018, the FASB issued ASU 2018-14, Compensation - Retirement Benefits - Defined Benefit Plans - General (Subtopic 715-20): Disclosure Framework - Changes to the Disclosure Requirements for Defined Benefit Plans. Specifically, the amendment removes disclosure requirements for amounts classified in accumulated other comprehensive income expected to be recognized over the next year and the effects of a one-percentage-point change in the assumed health care cost trend rate on service cost, interest cost, and the benefit obligation for postretirement benefits. The amendment also requires additional disclosure around weighted-average interest crediting rates for cash balance plans, a narrative description of the reasons for significant gains and losses, and an explanation of any other significant changes in the benefit obligation or plan assets. The Corporation early adopted this standard as of December 31, 2019 and included revised disclosures within Note 16 of the Consolidated Financial Statements.

Recent accounting standards to be adopted

In June 2016, the FASB issued ASU 2016-13, Financial Instruments—Credit Losses (Topic 326), Measurement of Credit Losses on Financial Instruments. This ASU adds a current expected credit loss impairment model to U.S. GAAP that is based on expected losses rather than incurred losses whereby a broader range of reasonable and supportable information is required to be utilized in order to derive credit loss estimates. The Corporation plans to adopt the ASU as of January 1, 2020 as the standard is effective for fiscal years beginning after December 15, 2019. The Corporation is currently evaluating the impact of adopting this standard, but does not expect the adoption to have a material impact on its Consolidated Financial Statements.

REVENUE (Notes)

12 Months Ended

Dec. 31, 2019

Revenue from Contract with Customer [Abstract]

Revenue from Contract with Customer [Text Block]

2. REVENUE

The Corporation accounts for revenues in accordance with ASC 606, Revenue from Contracts with Customers, which was adopted as of January 1, 2018 on a modified retrospective basis. Under ASC 606, revenue is recognized when control of a promised good and/or service is transferred to a customer at a transaction price that reflects the consideration that the Corporation expects to be entitled to in exchange for that good and/or service.

Performance Obligations

The Corporation identifies a performance obligation for each promise in a contract to transfer a distinct good or service to the customer. As part of its assessment, the Corporation considers all goods and/or services promised in the contract, regardless of whether they are explicitly stated or implied by customary business practices. The Corporation’s contracts may contain either a single performance obligation, including the promise to transfer individual goods or services that are not separately distinct within the context of the respective contracts, or multiple performance obligations. For contracts with multiple performance obligations, the Corporation allocates the overall transaction price to each performance obligation using standalone selling prices, where available, or utilizes estimates for each distinct good or service in the contract where standalone prices are not available. In certain instances, the transaction price may include estimated amounts of variable consideration including but not limited to incentives, awards, price escalations, liquidated damages, and penalties, only to the extent that it is probable that a significant reversal of cumulative revenue recognized to date around such variable consideration will not occur. The Corporation estimates variable consideration to be included in the transaction price using either the expected value method or most likely amount method, contingent upon the facts and circumstances of the specific arrangement. Variable consideration associated with the Corporation’s respective arrangements is not typically constrained.

The Corporation’s performance obligations are satisfied either at a point-in-time or on an over-time basis. Revenue recognized on an over-time basis for the year ended December 31, 2019 and 2018 accounted for approximately 49% and 46%, respectively, of total net sales. Typically, over-time revenue recognition is based on the utilization of an input measure used to measure progress, such as costs incurred to date relative to total estimated costs. Changes in total estimated costs are recognized using the cumulative catch-up method of accounting which recognizes the cumulative effect of the changes on current and prior periods in the current period. Accordingly, the effect of the changes on future periods of contract performance is recognized as

if the revised estimate had been the original estimate. A significant change in an estimate on one or more contracts could have a material effect on the Corporation's consolidated financial position, results or operations, or cash flows. However, there were no significant changes in estimated contract costs during 2019, 2018, or 2017.

If a performance obligation does not qualify for over-time revenue recognition, revenue is then recognized at the point-in-time in which control of the distinct good or service is transferred to the customer, typically based upon the terms of delivery. Revenue recognized at a point-in-time for the year ended December 31, 2019 and 2018 accounted for approximately 51% and 54%, respectively, of total net sales.

Contract backlog represents the remaining performance obligations that have not yet been recognized as revenue. Backlog includes deferred revenue and amounts that will be invoiced and recognized as revenue in future periods. Total backlog was approximately $2.2 billion as of December 31, 2019, of which the Corporation expects to recognize approximately 92% as net sales over the next 12-36 months. The remainder will be recognized thereafter.

Disaggregation of Revenue

The following table presents the Corporation’s total net sales disaggregated by end market and customer type:


Total Net Sales by End Market and Customer Type	Year Ended December 31,
(In thousands)	2019		2018		2017
Defense
Aerospace	$	416,841	$	376,951	$	372,678
Ground	93,432		97,131		96,042
Naval	568,776		486,476		408,221
Total Defense Customers	$	1,079,049	$	960,558	$	876,941

Commercial
Aerospace	$	433,038	$	414,422	$	409,384
Power Generation	392,173		431,793		423,747
General Industrial	583,701		605,062		560,954
Total Commercial Customers	$	1,408,912	$	1,451,277	$	1,394,085

Total	$	2,487,961	$	2,411,835	$	2,271,026

Contract Balances

Timing of revenue recognition and cash collection may result in billed receivables, unbilled receivables (contract assets), and deferred revenue (contract liabilities) on the Consolidated Balance Sheet. The Corporation’s contract assets primarily relate to its rights to consideration for work completed but not billed as of the reporting date. Contract assets are transferred to billed receivables when the rights to consideration become unconditional. This is typical in situations where amounts are billed as work progresses in accordance with agreed-upon contractual terms or upon achievement of contractual milestones. The Corporation’s contract liabilities primarily consist of customer advances received prior to revenue being earned. Revenues recognized for the years ended December 31, 2019 and 2018 included in the contract liabilities balance at the beginning of the respective years were approximately $198 million and $164 million, respectively. Changes in contract assets and contract liabilities as of December 31, 2019 were not materially impacted by any other factors. Contract assets and contract liabilities are reported in the "Receivables, net" and "Deferred revenue" lines, respectively, within the Consolidated Balance Sheet.

Pre-adoption of ASC 606

As the Corporation adopted ASC 606 using the modified retrospective method, the Consolidated Financial Statements for the year ended December 31, 2017 were not retrospectively adjusted. For the year ended December 31, 2017, revenue was recognized when the earnings process was considered substantially complete with all of the following criteria met: 1) persuasive evidence of an arrangement existed; 2) delivery occurred or services were rendered; 3) the Corporation's price to its customer was fixed or determinable; and 4) collectability was reasonably assured. The Corporation determined the appropriate revenue recognition method by analyzing the terms and conditions of each contract. Revenue was recognized on product sales

as production units were shipped and title and risk of loss was transferred. Revenue was recognized on service-type contracts as services were rendered. The significant estimates made in recognizing revenue were primarily for long-term contracts, which were generally accounted for using the cost-to-cost method of percentage of completion accounting. Under the cost-to-cost method, profits were recorded pro-rata, based upon estimates of direct and indirect costs to complete such contracts. Any changes in estimates of contract sales, costs, or profits were recognized using the cumulative catch-up method of accounting.

ACQUISITIONS

12 Months Ended

Dec. 31, 2019

Business Combinations [Abstract]

ACQUISITIONS

The Corporation continually evaluates potential acquisitions that either strategically fit within the Corporation’s existing portfolio or expand the Corporation’s portfolio into new product lines or adjacent markets. The Corporation has completed a number of acquisitions that have been accounted for as business combinations and have resulted in the recognition of goodwill in the Corporation's financial statements. This goodwill arises because the purchase prices for these businesses reflect the future earnings and cash flow potential in excess of the earnings and cash flows attributable to the current product and customer set at the time of acquisition. Thus, goodwill inherently includes the know-how of the assembled workforce, the ability of the workforce to further improve the technology and product offerings, and the expected cash flows resulting from these efforts. Goodwill may also include expected synergies resulting from the complementary strategic fit these businesses bring to existing operations.

The Corporation allocates the purchase price at the date of acquisition based upon its understanding of the fair value of the acquired assets and assumed liabilities. Only items identified as of the acquisition date are considered for subsequent adjustment. The Corporation will make appropriate adjustments to the purchase price allocation prior to completion of the measurement period, as required.

During the twelve months ended December 31, 2019, the Corporation acquired two businesses for an aggregate purchase price of $185 million, net of cash acquired. During the twelve months ended December 31, 2018, the Corporation acquired one business for an aggregate purchase price of $210 million, net of cash acquired. These acquisitions are described in more detail below.

For the year ended December 31, 2019 and 2018, included within the Consolidated Statement of Earnings, the Corporation's acquisitions contributed $11 million and $64 million of total net sales, respectively, and immaterial net earnings in both periods.

The following table summarizes the estimated fair values of the assets acquired and liabilities assumed at the date of acquisition for all acquisitions consummated during 2019 and 2018:


(In thousands)	2019		2018
Accounts receivable	$	16,551	$	24,385
Inventory	7,608		31,875
Property, plant, and equipment	1,117		3,206
Intangible assets	94,400		146,100
Operating lease right-of-use assets, net	4,605		—
Other current and non-current assets	888		47
Current and non-current liabilities	(11,604)		(5,374)
Net tangible and intangible assets	113,565		200,239
Purchase price	185,209		210,167
Goodwill	$	71,644	$	9,928

Goodwill deductible for tax purposes	$	72,777	$	9,928

2019 Acquisitions

901D Holdings, LLC (901D)

On December 31, 2019, the Corporation acquired 100% of the membership interests of 901D for $135.1 million, net of cash acquired. The Purchase Agreement contains a purchase price adjustment mechanism and representations and warranties customary for a transaction of this type, including a portion of the purchase price deposited in escrow as security for potential indemnification claims against the seller. 901D is a designer and manufacturer of mission-critical integrated electronic systems,

subsystems, and ruggedized shipboard enclosure solutions supporting every major U.S. Navy shipbuilding program. The acquired business will operate within the Defense segment. The acquisition is subject to post-closing adjustments with the purchase price allocation not yet complete.

Tactical Communications Group (TCG)

On March 15, 2019, the Corporation acquired 100% of the membership interests of TCG for $50.1 million, net of cash acquired. The Purchase Agreement contains a purchase price adjustment mechanism and representations and warranties customary for a transaction of this type, including a portion of the purchase price deposited in escrow as security for potential indemnification claims against the seller. TCG is a designer and manufacturer of tactical data link software solutions for critical military communications systems. The acquired business operates within the Defense segment.

2018 Acquisitions

Dresser-Rand Government Business (DRG)

On April 2, 2018, the Corporation acquired certain assets and assumed certain liabilities of DRG for $210.2 million in cash. The Asset Purchase Agreement contains a purchase price adjustment mechanism and representations and warranties customary for a transaction of this type. DRG is a designer and manufacturer of mission-critical, high-speed rotating equipment solutions and also acts as the sole supplier of steam turbines and main engine guard valves on all aircraft carrier programs. The acquired business operates within the Power segment.

RECEIVABLES

12 Months Ended

Dec. 31, 2019

Accounts, Notes, Loans and Financing Receivable, Gross, Allowance, and Net [Abstract]

RECEIVABLES

4. RECEIVABLES

Receivables include current notes, amounts billed to customers, claims, other receivables, and unbilled revenue on long-term contracts, which consists of amounts recognized as sales but not billed. Substantially all amounts of unbilled receivables are expected to be billed and collected in the subsequent year. An immaterial amount of unbilled receivables are subject to retainage provisions. The amount of claims and unapproved change orders within our receivables balances are immaterial.

Credit risk is diversified due to the large number of entities comprising the Corporation’s customer base and their geographic dispersion. The Corporation is either a prime contractor or subcontractor to various agencies of the U.S. Government. Revenues derived directly and indirectly from government sources (primarily the U.S. Government) were 43% and 40% of total net sales in 2019 and 2018, respectively. Total receivables due from government sources (primarily the U.S Government) were $343.5 million and $329.1 million as of December 31, 2019 and 2018, respectively. Government (primarily the U.S. Government) unbilled receivables, net of progress payments, were $195.7 million and $180.0 million as of December 31, 2019 and 2018, respectively.

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


(In thousands)	2019		2018
Billed receivables:
Trade and other receivables	$	418,968	$	390,306
Less: Allowance for doubtful accounts	(8,733)		(7,436)
Net billed receivables	410,235		382,870
Unbilled receivables:
Recoverable costs and estimated earnings not billed	231,067		225,810
Less: Progress payments applied	(9,108)		(14,925)
Net unbilled receivables	221,959		210,885
Receivables, net	$	632,194	$	593,755

INVENTORIES

12 Months Ended

Dec. 31, 2019

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. The caption "Inventoried costs related to U.S. Government and other long-term contracts" 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)	2019		2018
Raw material	$	183,576	$	214,442
Work-in-process	105,874		74,536
Finished goods	131,124		143,016
Inventoried costs related to U.S. Government and other long-term contracts ⁽¹⁾	70,998		54,195
Gross inventories	491,572		486,189
Less: Inventory reserves	(58,594)		(55,776)
Progress payments applied	(8,143)		(6,987)
Inventories, net	$	424,835	$	423,426

⁽¹⁾ As of December 31, 2019 and 2018, this caption also includes capitalized development costs of $39.1 million and $44.4 million, respectively, related to certain aerospace and defense programs. These capitalized costs will be liquidated as units are produced under contract. As of December 31, 2019 and 2018, capitalized development costs of $23.7 million and $24.1 million, respectively, are not currently supported by existing firm orders.

PROPERTY, PLANT, AND EQUIPMENT

12 Months Ended

Dec. 31, 2019

Property, Plant and Equipment [Abstract]

PROPERTY, PLANT, AND EQUIPMENT

6. PROPERTY, PLANT, AND EQUIPMENT

The composition of property, plant, and equipment as of December 31 is as follows:


(In thousands)	2019		2018
Land	$	18,632	$	18,548
Buildings and improvements	234,112		226,743
Machinery, equipment, and other	849,527		801,169
Property, plant, and equipment, at cost	1,102,271		1,046,460
Less: Accumulated depreciation	(716,678)		(671,800)
Property, plant, and equipment, net	$	385,593	$	374,660

Depreciation expense for the years ended December 31, 2019, 2018, and 2017 was $57.4 million, $59.4 million, and $61.6 million, respectively.

GOODWILL

12 Months Ended

Dec. 31, 2019

Goodwill [Abstract]

GOODWILL

7. GOODWILL

The changes in the carrying amount of goodwill for 2019 and 2018 are as follows:


(In thousands)	Commercial/Industrial		Defense		Power		Consolidated
December 31, 2017	$	448,531	$	460,332	$	187,466	$	1,096,329
Acquisitions	—		—		9,928		9,928
Divestitures	(111)		(1,594)		—		(1,705)
Foreign currency translation adjustment	(6,405)		(9,867)		(248)		(16,520)
December 31, 2018	$	442,015	$	448,871	$	197,146	$	1,088,032
Acquisitions	—		71,644		—		71,644
Adjustments	—		(208)		—		(208)
Foreign currency translation adjustment	2,099		4,962		151		7,212
December 31, 2019	$	444,114	$	525,269	$	197,297	$	1,166,680

The purchase price allocations relating to the businesses acquired are initially based on estimates. The Corporation adjusts these estimates based upon final analysis, including input from third party appraisals when deemed appropriate. The determination of fair value is finalized no later than twelve months from acquisition. Goodwill adjustments represent subsequent adjustments to the purchase price allocation for acquisitions.

The Corporation completed its annual goodwill impairment testing as of October 31, 2019, 2018, and 2017 and concluded that there was no impairment of goodwill.

OTHER INTANGIBLE ASSETS, NET

12 Months Ended

Dec. 31, 2019

Intangible Assets, Net (Excluding Goodwill) [Abstract]

OTHER INTANGIBLE ASSETS, NET

8. OTHER INTANGIBLE ASSETS, NET

Intangible assets are generally the result of acquisitions and consist primarily of purchased technology, customer related intangibles, and trademarks. Intangible assets are amortized over useful lives that generally range between 1 and 20 years.

The following tables present the cumulative composition of the Corporation’s intangible assets as of December 31, 2019 and December 31, 2018, respectively.


	2019										2018
(In thousands)	Gross		Accumulated Amortization		Net		Gross		Accumulated Amortization		Net
Technology	$	257,676	$	(140,390)	$	117,286	$	238,212	$	(123,156)	$	115,056
Customer related intangibles	434,492		(215,855)		218,637		358,832		(193,455)		165,377
Programs ⁽¹⁾	144,000		(12,600)		131,400		144,000		(5,400)		138,600
Other intangible assets	43,729		(31,145)		12,584		40,340		(29,806)		10,534
Total	$	879,897	$	(399,990)	$	479,907	$	781,384	$	(351,817)	$	429,567

⁽¹⁾ Programs include values assigned to major programs of acquired businesses and represent the aggregate value associated with the customer relationships, contracts, technology, and trademarks underlying the associated program.

During the year ended December 31, 2019, the Corporation acquired intangible assets of $94.4 million which included Customer-related intangibles of $73.3 million, Technology of $17.7 million, and Other intangible assets of $3.4 million. The weighted average amortization periods for these aforementioned intangible assets are 14.1 years, 15.0 years, and 8.0 years, respectively.

Amortization expense for the years ended December 31, 2019, 2018, and 2017 was $45.0 million, $43.6 million, and $38.4 million, respectively. The estimated future amortization expense of intangible assets over the next five years is as follows:


(In thousands)
2020	$	55,360
2021	45,692
2022	43,149
2023	39,398
2024	36,010

LEASES

12 Months Ended

Dec. 31, 2019

Leases [Abstract]

Leases, Finance

LEASES

The Corporation conducts a portion of its operations from leased facilities, which include manufacturing and service facilities, administrative offices, and warehouses. In addition, the Corporation leases vehicles, machinery, and office equipment under operating leases. Our leases have remaining lease terms of 1 year to 25 years, some of which include options for renewals, escalations, or terminations. Rental expenses for all operating leases amounted to $37.2 million, $38.4 million, and $37.1 million in 2019, 2018, and 2017, respectively.

Generally, the Corporation's lease contracts do not provide a readily determinable interest rate. Accordingly, the Corporation determines the incremental borrowing rate as of the lease commencement date in order to calculate the present value of its lease payments. The incremental borrowing rate is determined based on information available at the lease commencement date, including the lease term, market rates for the Corporation’s outstanding debt, as well as market rates for debt of companies with similar credit ratings.

The components of lease expense were as follows:


	Year Ended
(In thousands)	December 31, 2019
Operating lease cost	$	37,229

Finance lease cost:
Depreciation of finance leases	$	812
Interest on lease liabilities	498
Total finance lease cost	$	1,310

Supplemental cash flow information related to leases was as follows:


	Year Ended
(In thousands)	December 31, 2019
Cash used for operating activities:
Operating cash flows used for operating leases	$	(30,665)
Operating cash flows used for finance leases	(498)
Non-cash activity:
Right-of-use assets obtained in exchange for operating lease obligations	$	36,033

Supplemental balance sheet information related to leases was as follows:


(In thousands, except lease term and discount rate)	As of December 31, 2019
Operating Leases
Operating lease right-of-use assets, net	$	165,490

Other current liabilities	$	26,773
Long-term operating lease liability	145,124
Total operating lease liabilities	$	171,897

Finance Leases
Property, plant, and equipment	$	15,561
Accumulated depreciation	(5,533)
Property, plant, and equipment, net	$	10,028

Other current liabilities	$	807
Other liabilities	10,982
Total finance lease liabilities	$	11,789

Weighted average remaining lease term
Operating leases	9.2 years
Finance leases	9.7 years
Weighted average discount rate
Operating leases	3.75		%
Finance leases	4.05		%

Maturities of lease liabilities were as follows:


	As of December 31, 2019
(In thousands)	Operating Leases		Finance Leases
2020	$	32,528	$	1,342
2021	29,729		1,375
2022	23,432		1,410
2023	21,168		1,445
2024	18,640		1,481
Thereafter	79,982		7,411
Total lease payments	205,479		14,464
Less: imputed interest	(33,582)		(2,675)
Total	$	171,897	$	11,789

As of December 31, 2018, the approximate future minimum rental commitments under operating leases that had initial or remaining non-cancelable lease terms in excess of one year were as follows:


(In thousands)	Rental Commitments
2019	$	29,562
2020	28,514
2021	24,501
2022	19,996
2023	19,778
Thereafter	93,974
Total	$	216,325

Leases, Operating

LEASES

The Corporation conducts a portion of its operations from leased facilities, which include manufacturing and service facilities, administrative offices, and warehouses. In addition, the Corporation leases vehicles, machinery, and office equipment under operating leases. Our leases have remaining lease terms of 1 year to 25 years, some of which include options for renewals, escalations, or terminations. Rental expenses for all operating leases amounted to $37.2 million, $38.4 million, and $37.1 million in 2019, 2018, and 2017, respectively.

Generally, the Corporation's lease contracts do not provide a readily determinable interest rate. Accordingly, the Corporation determines the incremental borrowing rate as of the lease commencement date in order to calculate the present value of its lease payments. The incremental borrowing rate is determined based on information available at the lease commencement date, including the lease term, market rates for the Corporation’s outstanding debt, as well as market rates for debt of companies with similar credit ratings.

The components of lease expense were as follows:


	Year Ended
(In thousands)	December 31, 2019
Operating lease cost	$	37,229

Finance lease cost:
Depreciation of finance leases	$	812
Interest on lease liabilities	498
Total finance lease cost	$	1,310

Supplemental cash flow information related to leases was as follows:


	Year Ended
(In thousands)	December 31, 2019
Cash used for operating activities:
Operating cash flows used for operating leases	$	(30,665)
Operating cash flows used for finance leases	(498)
Non-cash activity:
Right-of-use assets obtained in exchange for operating lease obligations	$	36,033

Supplemental balance sheet information related to leases was as follows:


(In thousands, except lease term and discount rate)	As of December 31, 2019
Operating Leases
Operating lease right-of-use assets, net	$	165,490

Other current liabilities	$	26,773
Long-term operating lease liability	145,124
Total operating lease liabilities	$	171,897

Finance Leases
Property, plant, and equipment	$	15,561
Accumulated depreciation	(5,533)
Property, plant, and equipment, net	$	10,028

Other current liabilities	$	807
Other liabilities	10,982
Total finance lease liabilities	$	11,789

Weighted average remaining lease term
Operating leases	9.2 years
Finance leases	9.7 years
Weighted average discount rate
Operating leases	3.75		%
Finance leases	4.05		%

Maturities of lease liabilities were as follows:


	As of December 31, 2019
(In thousands)	Operating Leases		Finance Leases
2020	$	32,528	$	1,342
2021	29,729		1,375
2022	23,432		1,410
2023	21,168		1,445
2024	18,640		1,481
Thereafter	79,982		7,411
Total lease payments	205,479		14,464
Less: imputed interest	(33,582)		(2,675)
Total	$	171,897	$	11,789

As of December 31, 2018, the approximate future minimum rental commitments under operating leases that had initial or remaining non-cancelable lease terms in excess of one year were as follows:


(In thousands)	Rental Commitments
2019	$	29,562
2020	28,514
2021	24,501
2022	19,996
2023	19,778
Thereafter	93,974
Total	$	216,325

FAIR VALUE OF FINANCIAL INSTRUMENTS

12 Months Ended

Dec. 31, 2019

Fair Value Of Financial Instruments [Abstract]

FAIR VALUE OF FINANCIAL INSTRUMENTS

10. FAIR VALUE OF FINANCIAL INSTRUMENTS

Forward Foreign Exchange and Currency Option Contracts

The Corporation has foreign currency exposure, primarily in the United Kingdom, Canada, and Europe. The Corporation uses financial instruments, such as forward and option contracts, to hedge a portion of existing and anticipated foreign currency denominated transactions. The purpose of the Corporation’s foreign currency risk management program is to reduce volatility in earnings caused by exchange rate fluctuations. Guidance on accounting for derivative instruments and hedging activities requires companies to recognize all of the derivative financial instruments as either assets or liabilities at fair value in the Consolidated Balance Sheets.

Interest Rate Risks and Related Strategies

The Corporation’s primary interest rate exposure results from changes in U.S. dollar interest rates. The Corporation’s policy is to manage interest cost using a mix of fixed and variable rate debt. The Corporation periodically uses interest rate swaps to manage such exposures. Under these interest rate swaps, the Corporation exchanges, at specified intervals, the difference between fixed and floating interest amounts calculated by reference to an agreed-upon notional principal amount. The Corporation’s foreign exchange contracts and interest rate swaps are considered Level 2 instruments which are based on market based inputs or unobservable inputs and corroborated by market data such as quoted prices, interest rates, or yield curves.

For interest rate swaps designated as fair value hedges (i.e., hedges against the exposure to changes in the fair value of an asset or a liability or an identified portion thereof that is attributable to a particular risk), changes in the fair value of the interest rate swaps offset changes in the fair value of the fixed rate debt due to changes in market interest rates.

As of December 31, 2019 and December 31, 2018, the Corporation did not have any active interest rate swaps.

Effects on Consolidated Balance Sheet

As of December 31, 2019 and December 31, 2018, the fair values of the asset and liability derivative instruments were immaterial.

Effects on Consolidated Statement of Earnings

Undesignated hedges

The location and amount of (gains) and losses recognized in income on forward exchange derivative contracts not designated for hedge accounting for the years ended December 31, were as follows:


(In thousands)	2019		2018		2017
Forward exchange contracts:
General and administrative expenses	$	(2,072)	$	6,643	$	(346)

Debt

The estimated fair value amounts were determined by the Corporation using available market information, which is primarily based on quoted market prices for the same or similar issues as of December 31, 2019. The fair values of our debt instruments are characterized as Level 2 measurements which are based on market-based inputs or unobservable inputs and corroborated by market data such as quoted prices, interest rates, or yield curves. The estimated fair values of the Corporation’s fixed rate debt instruments as of December 31, 2019, net of debt issuance costs, totaled $783 million compared to a carrying value, net of debt issuance costs, of $749 million. The estimated fair values of the Corporation’s fixed rate debt instruments as of December 31, 2018, net of debt issuance costs, totaled $750 million compared to a carrying value, net of debt issuance costs, of $749 million.

The fair values described above may not be indicative of net realizable value or reflective of future fair values. Furthermore, the use of different methodologies to determine the fair value of certain financial instruments could result in a different estimate of fair value at the reporting date.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES

12 Months Ended

Dec. 31, 2019

Accrued Liabilities, Current [Abstract]

Accrued Expenses And Other Current Liabilities

11. ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES

Accrued expenses consist of the following as of December 31:


(In thousands)	2019		2018
Accrued compensation	$	119,293	$	118,479
Accrued commissions	6,678		7,769
Accrued interest	8,982		8,944
Accrued insurance	7,550		6,951

Other	22,241		24,811
Total accrued expenses	$	164,744	$	166,954

Other current liabilities consist of the following as of December 31:


(In thousands)	2019		2018
Short-term lease liabilities	$	26,773	$	—
Warranty reserves	$	17,512	$	17,293
Pension and other postretirement liabilities	6,690		6,528
Other	23,227		21,008
Total other current liabilities	$	74,202	$	44,829

INCOME TAXES

12 Months Ended

Dec. 31, 2019

Income Tax Disclosure [Abstract]

INCOME TAXES

12. INCOME TAXES

2017 Tax Cuts and Jobs Act

On December 22, 2017, the 2017 Tax Cuts and Jobs Act (the Tax Act) was enacted into law. The new legislation contained several key tax provisions, including a one-time mandatory transition tax on accumulated foreign earnings and a reduction of the U.S. corporate income tax rate to 21%. The Corporation will also generally be eligible for a 100% dividends received exemption on its foreign earnings. The Tax Act subjects a U.S. shareholder to tax on global intangible low-taxed income (“GILTI”) earned by certain foreign subsidiaries. The Corporation has applied an accounting policy election to provide for the tax expense related to GILTI in the year in which the tax is incurred.

The Corporation has summarized the most significant impacts from the Tax Act below:

Reduction of the U.S. Corporate Income Tax Rate

The Corporation measures deferred tax assets and liabilities using enacted tax rates that are applicable in the years in which the temporary differences are expected to be recovered or paid. Accordingly, the Corporation’s deferred tax assets and liabilities were remeasured to reflect the reduction of the U.S. corporate income tax rate from 35 percent to 21 percent, resulting in a provisional $13.4 million decrease in income tax expense for the year ended December 31, 2017.

Transition Tax on Foreign Earnings

The Corporation recorded provisional income tax expense of $18.2 million for the year ended December 31, 2017 related to the one-time transition tax on certain foreign earnings. The finalized transition tax of $23.6 million was to be paid over eight years pursuant to the Tax Act, with $1.9 million paid in 2018. An additional $12.7 million carryforward from the 2017 income tax return further reduced the transition tax liability to $9.0 million as of December 31, 2018. The liability of $9.0 million, which is expected to be paid in 2024 and 2025, remained unchanged as of December 31, 2019.

Given that foreign undistributed earnings are no longer considered permanently reinvested, the Corporation also recorded provisional income tax expense of $3.8 million for the year ended December 31, 2017 for withholding taxes that would arise upon distribution of the Corporation’s foreign undistributed earnings.

During the year ended December 31, 2018, the Corporation recorded additional tax expense of $9.3 million for foreign withholding taxes associated with the Tax Act, $6.5 million of which related to the prior period.

During the year ended December 31, 2019, the Corporation recorded tax expense of $4.4 million for foreign withholding taxes. The Corporation is considered permanently reinvested to the extent of any outside basis differences in its foreign subsidiaries in excess of the amount of undistributed earnings.

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


(In thousands)	2019		2018		2017
Domestic	$	273,036	$	217,374	$	179,006
Foreign	123,426		138,865		120,613
	$	396,462	$	356,239	$	299,619

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


(In thousands)	2019		2018		2017
Current:
Federal	$	14,195	$	37,648	$	54,963
State	3,766		9,228		2,648
Foreign	24,816		25,285		23,162
Total current	42,777		72,161		80,773

Deferred:
Federal	38,647		8,518		2,595
State	6,632		(1,047)		4,282
Foreign	823		858		(2,922)
Total deferred	46,102		8,329		3,955
Provision for income taxes	$	88,879	$	80,490	$	84,728

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

DEBT

12 Months Ended

Dec. 31, 2019

Debt Instruments [Abstract]

DEBT

13. DEBT

Debt consists of the following as of December 31:


(In thousands)	2019		2019		2018		2018
	Carrying Value		Estimated Fair Value		Carrying Value		Estimated Fair Value
3.84% Senior notes due 2021	100,000		102,079		100,000		100,359
3.70% Senior notes due 2023	202,500		207,882		202,500		201,813
3.85% Senior notes due 2025	90,000		93,838		90,000		89,711
4.24% Senior notes due 2026	200,000		213,126		200,000		202,288
4.05% Senior notes due 2028	67,500		71,260		67,500		66,942
4.11% Senior notes due 2028	90,000		95,607		90,000		89,647
Other debt	—		—		243		243
Total debt	750,000		783,792		750,243		751,003
Debt issuance costs, net	(594)		(594)		(714)		(714)
Unamortized interest rate swap proceeds ⁽¹⁾	11,233		11,233		13,027		13,027
Total debt, net	760,639		794,431		762,556		763,316
Less: current portion of long-term debt and short-term debt	—		—		243		243
Total long-term debt	$	760,639	$	794,431	$	762,313	$	763,073

⁽¹⁾Represents the gain from termination of the Corporation's interest rate swap agreements on its 3.85% and 4.24% Senior Notes in February 2016, which will be amortized into interest expense over the remaining terms of the respective notes.

The weighted-average interest rate of the Corporation's Revolving Credit Agreement in 2019 and 2018 was 3.3% and 3.2%, respectively.

The Corporation's total debt outstanding had a weighted-average interest rate of 3.7% in both 2019 and 2018, respectively.

Aggregate maturities of debt are as follows:


(In thousands)
2020	$	—
2021	100,000
2022	—
2023	202,500
2024	—
Thereafter	447,500
Total	$	750,000

Interest payments of $30 million, $32 million, and $39 million were made in 2019, 2018, and 2017, respectively.

Revolving Credit Agreement

In October 2018, the Corporation amended the terms of its existing Credit Agreement (Credit Agreement) with a syndicate of financial institutions, led by Bank of America N.A., Wells Fargo, N.A., and JP Morgan Chase Bank, N.A.. The amended agreement, which provides the Corporation with a borrowing capacity of $500 million, extended the maturity date from November 2019 to October 2023 and expanded the accordion feature from $100 million to $200 million. The proceeds available under the Credit Agreement are to be used for working capital, internal growth initiatives, funding of future acquisitions, and general corporate purposes. As of December 31, 2019, the Corporation had $33 million in letters of credit supported by the credit facility and no borrowings outstanding under the credit facility. The unused credit available under the credit facility as of December 31, 2019 was $467 million, which the Corporation had the ability to borrow in full without violating its debt to capitalization covenant.

The Credit Agreement contains covenants that the Corporation considers usual and customary for an agreement of this type for comparable commercial borrowers, including a maximum consolidated debt to capitalization ratio of 60%. The Credit Agreement has customary events of default, such as non-payment of principal when due; nonpayment of interest, fees, or other amounts; cross-payment default and cross-acceleration.

Borrowings under the credit agreement accrue interest based on (i) Libor or (ii) a base rate of the highest of (a) the federal funds rate plus 0.5%, (b) BofA’s announced prime rate, or (c) the Eurocurrency rate plus 1%, plus a margin. The interest rate and level of facility fees are dependent on certain financial ratios, as defined in the Credit Agreement. The Credit Agreement also provides customary fees, including administrative agent and commitment fees. In connection with the Credit Agreement, the Corporation paid customary transaction fees that have been deferred and are being amortized over the term of the Credit Agreement.

Senior Notes

On February 26, 2013, the Corporation issued $500 million of Senior Notes (the “2013 Notes”). The 2013 Notes consisted of $225 million of 3.70% Senior Notes that mature on February 26, 2023, $100 million of 3.85% Senior Notes that mature on February 26, 2025, and $75 million of 4.05% Senior Notes that mature on February 26, 2028. $100 million of additional 4.11% Senior Notes were deferred and subsequently issued on September 26, 2013 that mature on September 26, 2028. On October 15, 2018, the Corporation made a discretionary $50 million prepayment on the $500 million 2013 Notes. The 2013 Notes are senior unsecured obligations, equal in right of payment to the Corporation’s existing senior indebtedness. The Corporation, at its option, can prepay at any time all or any part of the 2013 Notes, subject to a make-whole payment in accordance with the terms of the Note Purchase Agreement. In connection with the issuance of the 2013 Notes, the Corporation paid customary fees that have been deferred and are being amortized over the term of the 2013 Notes. Under the terms of the Note Purchase Agreement, the Corporation is required to maintain certain financial ratios, the most restrictive of which is a debt to capitalization limit of 60%. The debt to capitalization ratio (as defined per the Notes Purchase Agreement and Credit Agreement) is calculated using the same formula for all of the Corporation’s debt agreements and is a measure of the Corporation’s indebtedness to capitalization, where capitalization equals debt plus equity. As of December 31, 2019, the Corporation had the ability to borrow additional debt of $1.8 billion without violating our debt to capitalization covenant. The 2013 Notes also contain a cross default provision with respect to the Corporation’s other senior indebtedness.

On December 8, 2011, the Corporation issued $300 million of Senior Notes (the “2011 Notes”). The 2011 Notes consist of $100 million of 3.84% Senior Notes that mature on December 1, 2021 and $200 million of 4.24% Senior Series Notes that mature on December 1, 2026. The 2011 Notes are senior unsecured obligations, equal in right of payment to our existing senior indebtedness. The Corporation, at its option, can prepay at any time all or any part of our 2011 Notes, subject to a make-whole payment in accordance with the terms of the Note Purchase Agreement. In connection with our 2011 Notes, the Corporation paid customary fees that have been deferred and are being amortized over the term of our 2011 Notes. Under the Note Purchase Agreement, the Corporation is required to maintain certain financial ratios, the most restrictive of which is a debt to capitalization limit of 60%. The 2011 Notes also contain a cross default provision with our other senior indebtedness.

EARNINGS PER SHARE

12 Months Ended

Dec. 31, 2019

Earnings Per Share [Abstract]

EARNINGS PER SHARE

14. EARNINGS PER SHARE

The Corporation is required to report both basic earnings per share (EPS), based on the weighted-average number of common shares outstanding, and diluted earnings per share, based on the basic EPS adjusted for all potentially dilutive shares issuable.

As of December 31, 2019, 2018, and 2017, there were no options outstanding that were considered anti-dilutive.

Earnings per share calculations for the years ended December 31, 2019, 2018, and 2017, were as follows:


(In thousands, except per share data)	Net Earnings		Weighted- Average Shares Outstanding	Earnings per Share
2019
Basic earnings per share	$	307,583	42,739	$	7.20
Dilutive effect of stock options and deferred stock compensation			277
Diluted earnings per share	$	307,583	43,016	$	7.15
2018
Basic earnings per share	$	275,749	43,892	$	6.28
Dilutive effect of stock options and deferred stock compensation			424
Diluted earnings per share	$	275,749	44,316	$	6.22
2017
Basic earnings per share	$	214,891	44,182	$	4.86
Dilutive effect of stock options and deferred stock compensation			579
Diluted earnings per share	$	214,891	44,761	$	4.80

SHARE-BASED COMPENSATION PLANS

12 Months Ended

Dec. 31, 2019

Share-based Payment Arrangement, Noncash Expense [Abstract]

SHARE-BASED COMPENSATION PLANS

15. SHARE-BASED COMPENSATION PLANS

In May 2014, the Corporation adopted the Curtiss-Wright 2014 Omnibus Incentive Plan (the “2014 Omnibus Plan”). The plan replaced the Corporation's existing 2005 Long Term Incentive Plan and the 2005 Stock Plan for Non-Employee Directors (collectively the “2005 Stock Plans”). Beginning in May 2014, all awards were granted under the 2014 Omnibus Plan. The maximum aggregate number of shares of common stock that may be issued under the 2014 Omnibus Plan are 2,400,000 less one share of common stock for every one share of common stock granted under any prior plan after December 31, 2013 and prior to the effective date of the 2014 Omnibus Plan. In addition, any awards that were previously granted under any prior plan that terminate without issuance of shares shall be eligible for issuance under the 2014 Omnibus Plan. Awards under the 2014 Omnibus Plan may be in the form of stock options, stock appreciation rights, restricted stock, restricted stock units (RSU), other stock-based awards, performance share units (PSU), or cash-based performance units (PU).

During 2019, the Corporation granted share-based awards in the form of RSUs, PSUs, and restricted stock. Previous grants under the 2005 Stock Plans included non-qualified stock options. Under our employee benefit program, the Corporation also provides an Employee Stock Purchase Plan (ESPP) to most active employees. Certain awards provide for accelerated vesting if there is a change in control.

The compensation cost for employee and non-employee director share-based compensation programs during 2019, 2018, and 2017 is as follows:


(In thousands)	2019		2018		2017
Employee Stock Purchase Plan	1,585		1,435		1,207
Performance Share Units	4,853		4,746		4,340
Restricted Share Units	6,061		7,026		4,931
Other share-based payments	1,170		887		1,094
Total share-based compensation expense before income taxes	$	13,669	$	14,094	$	11,572

Other share-based grants include service-based restricted stock awards to non-employee directors, who are treated as employees as prescribed by the accounting guidance on share-based payments. The compensation cost recognized follows the cost of the employee, which is primarily reflected as general and administrative expense in the Consolidated Statement of Earnings. No share-based compensation costs were capitalized during 2019, 2018, or 2017.

The following table summarizes the cash received from share-based awards on share-based compensation:


(In thousands)	2019		2018		2017
Cash received from share-based awards	$	11,770	$	11,940	$	14,179

A summary of employee stock option activity is as follows:


	Shares (000’s)		Weighted- Average Exercise Price				Weighted- Average Remaining Contractual Term in Years		Aggregate Intrinsic Value (000’s)
Outstanding as of December 31, 2018	158		$	30.34
Exercised	(91)		30.64
Forfeited	(1)		30.90
Outstanding as of December 31, 2019		66			$	29.93		0.9		$	7,396
Exercisable as of December 31, 2019		66			$	29.93		0.9		$	7,396

The total intrinsic value of stock options exercised during 2019, 2018, and 2017 was $8.7 million, $10.1 million, and $12.7 million, respectively.

Performance Share Units

The Corporation has granted performance share units to certain employees, whose three-year cliff vesting is contingent upon the Corporation's total shareholder return over the three-year term of the awards compared to a self-constructed peer group. The non-vested shares are subject to forfeiture if established performance goals are not met or employment is terminated other than due to death, disability, or retirement. Share plans are denominated in share-based units based on the fair market value of the Corporation’s common stock on the date of grant. The performance share unit’s compensation cost is amortized to expense on a straight-line basis over the three-year requisite service period.

Restricted Share Units

Restricted share units cliff vest at the end of the awards’ vesting period. The restricted share units are service-based and thus compensation cost is amortized to expense on a straight-line basis over the requisite service period, which is typically three years. The non-vested restricted units are subject to forfeiture if employment is terminated other than due to death, disability, or retirement.

A summary of the Corporation’s 2019 activity related to performance share units and restricted share units are as follows:


	Performance Share Units (PSUs)							Restricted Share Units (RSUs)
	Shares/Units (000’s)		Weighted- Average Fair Value			Shares/Units (000’s)		Weighted- Average Fair Value
Nonvested as of December 31, 2018		117		$	101.70		137		$	54.66
Granted	50		121.15			76		114.98
Vested	(68)		86.43			(58)		98.61
Forfeited	(2)		155.91			(6)		117.48
Nonvested as of December 31, 2019		97		$	149.99		149		$	105.42
Expected to vest as of December 31, 2019		97		$	149.99		149		$	105.42

Nonvested PSUs had an intrinsic value of $13.7 million and unrecognized compensation costs of $4.8 million as of December 31, 2019. Nonvested RSUs had an intrinsic value of $20.9 million and unrecognized compensation costs of $8.7 million as of December 31, 2019. Unrecognized compensation costs related to PSUs and RSUs are expected to be recognized over 1.6 years and 2.3 years, respectively.

Employee Stock Purchase Plan

The Corporation’s ESPP enables eligible employees to purchase the Corporation’s common stock at a price per share equal to 85% of the fair market value at the end of each offering period. Each offering period of the ESPP lasts six months, commencing on January 1st and July 1st of each year. Compensation cost is recognized on a straight-line basis over the six-month vesting period during which employees perform related services.

PENSION AND OTHER POSTRETIREMENT BENEFIT PLANS

12 Months Ended

Dec. 31, 2019

Retirement Benefits, Description [Abstract]

PENSION AND OTHER POSTRETIREMENT BENEFIT PLANS

16. PENSION AND OTHER POSTRETIREMENT BENEFIT PLANS

The Corporation maintains ten separate and distinct pension and other post-retirement defined benefit plans, consisting of three domestic plans and seven separate foreign pension plans. The domestic plans include a qualified pension plan, a non-qualified pension plan, and a postretirement health-benefits plan. The foreign plans consist of one defined benefit pension plan each in the United Kingdom, Canada, and Switzerland, two in Germany, and two in Mexico.

Domestic Plans

Qualified Pension Plan

The Corporation maintains a defined benefit pension plan (the “CW Pension Plan”) covering certain employee populations under six benefit formulas: a non-contributory non-union and union formula for certain Curtiss-Wright (CW) employees, a contributory union and non-union benefit formula for employees at the EMD business unit, and two benefit formulas providing annuity benefits for participants in the former Williams Controls salaried and union plans.

CW non-union employees hired prior to February 1, 2010 receive a “traditional” benefit based on years of credited service, using the five highest consecutive years’ compensation during the last ten years of service. These employees became participants under the CW Pension Plan after one year of service and were vested after three years of service. CW non-union employees hired on or after the effective date were eligible for a cash balance benefit through December 31, 2013, and were transitioned to the new defined contribution plan, further described below. CW union employees who have negotiated a benefit under the CW Pension Plan are entitled to a benefit based on years of service multiplied by a monthly pension rate.

The formula for EMD employees covers both union and non-union employees and is designed to satisfy the requirements of relevant collective bargaining agreements. Employee contributions are withheld each pay period and are equal to 1.5% of salary. The benefits for the EMD employees are based on years of service and compensation. On December 31, 2012, the Corporation amended the CW Pension Plan to close the benefit to EMD employees hired after January 1, 2014.

Participants of the former Williams Controls Retirement Income Plan for salaried employees are either deferred vested participants or currently receiving benefits, as benefit accruals under the plan were frozen to future accruals effective January 1, 2003. Benefits in the salaried plan are based on average compensation and years of service.

Participants of the former Williams Controls UAW Local 492 Plan for union employees are entitled to a benefit based on years of service multiplied by a monthly pension rate, and may be eligible for supplemental benefits based upon attainment of certain age and service requirements.

Effective January 1, 2014, all active non-union employees participating in the final and career average pay formulas in the defined benefit plan will cease accruals 15 years from the effective date of the amendment. In addition to the sunset provision, cash balance benefit accruals for non-union participants ceased as of January 1, 2014. Non-union employees who were not currently receiving final or career average pay benefits became eligible to participate in a new defined contribution plan which provides both employer match and non-elective contribution components. Subsequent to the original amendment, the Corporation successfully negotiated the sunset provision into the bargaining agreements for all represented employees that received benefits through this plan.

As of December 31, 2019 and 2018, the Corporation had a noncurrent pension liability of $50.2 million and $26.6 million, respectively. This increase was driven by a decrease in the discount rate as of December 31, 2019, partially offset by favorable asset experience due to strong market returns during 2019.

On January 8, 2020, the Corporation made a voluntary contribution of $150 million to the plan. The Corporation does not expect to make any required contributions through 2024.

Nonqualified Pension Plan

The Corporation also maintains a non-qualified restoration plan (the “CW Restoration Plan”) covering those employees of CW and EMD whose compensation or benefits exceed the IRS limitation for pension benefits. Benefits under the CW Restoration Plan are not funded, and, as such, the Corporation had an accrued pension liability of $59.6 million and $52.8 million as of December 31, 2019 and 2018, respectively. The Corporation’s contributions to the CW Restoration Plan are expected to be $4.8 million in 2020.

Other Post-Employment Benefits (OPEB) Plan

The Corporation provides post-employment benefits consisting of retiree health and life insurance to three distinct groups of employees/retirees: the CW Grandfathered plan, and plans assumed in the acquisitions of EMD and Williams Controls.

The Corporation also provides retiree health and life insurance benefits for substantially all of the Curtiss-Wright EMD employees. The plan provides basic health and welfare coverage for pre-65 participants based on years of service and are subject to certain caps. Effective January 1, 2011, the Corporation modified the benefit design for post-65 retirees by introducing Retiree Reimbursement Accounts (RRAs) to participants in lieu of the traditional benefit delivery. Participant accounts are funded a set amount annually that can be used to purchase supplemental coverage on the open market, effectively capping the benefit.

The plan also provides retiree health and life insurance benefits for certain retirees of the Williams Controls salaried and union pension plans. Effective August 31, 2013, the Corporation modified the benefit design for post-65 retirees by introducing RRAs to align with the EMD delivery model.

The Corporation had an accrued postretirement benefit liability as of December 31, 2019 and 2018 of $23.6 million and $22.0 million, respectively. The Corporation expects to contribute $1.5 million to the plan during 2020.

Foreign Plans

As of December 31, 2019 and 2018, the total projected benefit obligation related to all foreign plans was $102.7 million and $83.5 million, respectively. As of December 31, 2019 and 2018, the Corporation had a net pension (liability)/asset of $(0.2) million and $2.7 million, respectively. The Corporation's contributions to the foreign plans are expected to be $2.3 million in 2020.

Components of net periodic benefit expense

The net pension and net postretirement benefit costs (income) consisted of the following:


	Pension Benefits										Postretirement Benefits
(In thousands)	2019		2018		2017		2019		2018		2017
Service cost	$	23,664	$	27,116	$	25,093	$	432	$	490	$	435
Interest cost	29,019		26,149		25,895		796		719		762
Expected return on plan assets	(59,153)		(58,641)		(53,552)		—		—		—
Amortization of prior service cost	(283)		(252)		(100)		(656)		(656)		(656)
Recognized net actuarial loss/(gain)	9,310		16,867		12,925		(198)		(131)		(223)
Cost of settlements/curtailments	—		337		327		—		—		—
Net periodic benefit cost (income)	$	2,557	$	11,576	$	10,588	$	374	$	422	$	318

The cost of settlements/curtailments indicated above represents events that are accounted for under guidance on employers’ accounting for settlements and curtailments of defined benefit pension plans. In 2018, a settlement charge was incurred in connection with a restructuring in Switzerland. In 2017, there were settlement charges incurred in both the U.K. and Switzerland.

The following table outlines the Corporation's consolidated disclosure of the pension benefits and postretirement benefits information described previously. The Corporation had no foreign postretirement plans. All plans were valued using a December 31, 2019 measurement date.


	Pension Benefits						Postretirement Benefits
(In thousands)	2019		2018		2019		2018
Change in benefit obligation:
Beginning of year	$	814,894	$	868,887	$	22,060	$	25,035
Service cost	23,664		27,116		432		490
Interest cost	29,019		26,149		796		719
Plan participants’ contributions	1,276		1,402		346		319
Actuarial (gain) loss	118,893		(58,913)		2,124		(1,982)
Benefits paid	(43,736)		(41,962)		(2,192)		(2,521)
Actual expenses	(1,846)		(1,371)		—		—
Settlements	—		(2,228)		—		—
Currency translation adjustments	3,023		(4,186)		—		—
End of year	$	945,187	$	814,894	$	23,566	$	22,060


Change in plan assets:
Beginning of year	$	738,296	$	776,482	$	—	$	—
Actual return on plan assets	133,896		(44,876)		—		—
Employer contribution	3,867		55,311		1,846		2,203
Plan participants’ contributions	1,276		1,402		346		319

Benefits paid	(43,736)		(44,190)		(2,192)		(2,522)
Actual Expenses	(1,846)		(1,371)		—		—
Currency translation adjustments	3,386		(4,462)		—		—
End of year	$	835,139	$	738,296	$	—	$	—

Funded status	$	(110,048)	$	(76,598)	$	(23,566)	$	(22,060)


	Pension Benefits						Postretirement Benefits
(In thousands)	2019		2018		2019		2018
Amounts recognized on the balance sheet
Noncurrent assets	$	11,711	$	9,098	$	—	$	—
Current liabilities	(5,143)		(4,905)		(1,547)		(1,623)
Noncurrent liabilities	(116,616)		(80,791)		(22,019)		(20,437)
Total	$	(110,048)	$	(76,598)	$	(23,566)	$	(22,060)
Amounts recognized in accumulated other comprehensive income (AOCI)
Net actuarial loss (gain)	$	263,660	$	228,430	$	(2,429)	$	(4,751)
Prior service cost	(934)		(1,225)		(1,404)		(2,060)
Total	$	262,726	$	227,205	$	(3,833)	$	(6,811)
Information for pension plans with an accumulated benefit obligation in excess of plan assets:
Projected benefit obligation	$	881,731	$	743,632	N/A		N/A
Accumulated benefit obligation	848,309		714,146		N/A		N/A
Fair value of plan assets	759,972		658,327		N/A		N/A

Plan Assumptions


	Pension Benefits						Postretirement Benefits
	2019		2018		2019		2018
Weighted-average assumptions in determination of benefit obligation:
Discount rate	3.05	%	4.09	%	3.15	%	4.20	%
Rate of compensation increase	3.46	%	3.50	%	N/A		N/A
Health care cost trends:
Rate assumed for subsequent year	N/A		N/A		7.50	%	7.85	%
Ultimate rate reached in 2026	N/A		N/A		4.50	%	4.50	%
Weighted-average assumptions in determination of net periodic benefit cost:
Discount rate	4.09	%	3.46	%	4.20	%	3.54	%
Expected return on plan assets	7.59	%	7.47	%	N/A		N/A
Rate of compensation increase	3.50	%	3.50	%	N/A		N/A
Health care cost trends:
Rate assumed for subsequent year	N/A		N/A		7.85	%	8.30	%
Ultimate rate reached in 2026	N/A		N/A		4.50	%	4.50	%

Effective December 31, 2016, the Corporation adopted the spot rate, or full yield curve, approach for developing discount rates. The discount rate for each plan's past service liabilities and service cost is determined by discounting the plan’s expected future benefit payments using a yield curve developed from high quality bonds that are rated Aa or better by Moody’s as of the measurement date. The yield curve calculation matches the notional cash inflows of the hypothetical bond portfolio with the expected benefit payments to arrive at one effective rate for these components. Interest cost is determined by applying the spot rate from the full yield curve to each anticipated benefit payment, based on the anticipated optional form elections.

The overall expected return on assets assumption is based on a combination of historical performance of the pension fund and expectations of future performance. Expected future performance is determined by weighting the expected returns for each asset class by the plan’s asset allocation. The expected returns are based on long-term capital market assumptions utilizing a ten-year time horizon through consultation with investment advisors. While consideration is given to recent performance and historical returns, the assumption represents a long-term prospective return.

Pension Plan Assets

The overall objective for plan assets is to earn a rate of return over time to meet anticipated benefit payments in accordance with plan provisions. The long-term investment objective of the domestic retirement plans is to achieve a total rate of return, net of fees, which exceeds the actuarial overall expected return on asset assumptions used for funding purposes and which provides an appropriate premium over inflation. The intermediate-term objective of the domestic retirement plans, defined as three to five years, is to outperform each of the capital markets in which assets are invested, net of fees. During periods of extreme market volatility, preservation of capital takes a higher precedence than outperforming the capital markets.

The Finance Committee of the Corporation’s Board of Directors is responsible for formulating investment policies, developing investment manager guidelines and objectives, and approving and managing qualified advisors and investment managers. The guidelines established define permitted investments within each asset class and apply certain restrictions such as limits on concentrated holdings, and prohibits selling securities short, buying on margin, and the purchase of any securities issued by the Corporation.

The Corporation maintains the funds of the CW Pension Plan under a trust that is diversified across investment classes and among investment managers to achieve an optimal balance between risk and return. As a part of its diversification strategy, the Corporation has established target allocations for each of the following assets classes: domestic equity securities, international equity securities, and debt securities. Below are the Corporation’s actual and established target allocations for the CW Pension Plan, representing 88% of consolidated assets:


	As of December 31,			Target	Expected
	2019	2018	Exposure	Range
Asset class
Domestic equities	51%	48%	50%	40%-60%
International equities	15%	15%	15%	10%-20%
Total equity	66%	63%	65%	55%-75%
Fixed income	34%	37%	35%	25%-45%

As of December 31, 2019 and 2018, cash funds in the CW Pension Plan represented approximately 3% and 6% of portfolio assets, respectively.

Foreign plan assets represent 12% of consolidated plan assets, with the majority of the assets supporting the U.K. plan. Generally, the foreign plans follow a similar asset allocation strategy and are more heavily weighted in fixed income resulting in a weighted expected return on assets assumption of 4.3% for all foreign plans.

The Corporation may from time to time require the reallocation of assets in order to bring the retirement plans into conformity with these ranges. The Corporation may also authorize alterations or deviations from these ranges where appropriate for achieving the objectives of the retirement plans.

Fair Value Measurements

The following table presents consolidated plan assets (in thousands) as of December 31, 2019 using the fair value hierarchy, as described in Note 10 to the Consolidated Financial Statements.


Asset Category	Total		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Cash and cash equivalents	$	42,261	$	20,034	$	22,227	$	—
Equity securities- Mutual funds⁽¹⁾	446,434		404,509		41,925		—
Bond funds ⁽²⁾	238,880		177,731		61,149		—
Insurance Contracts ⁽³⁾	8,408		—		—		8,408
Other ⁽⁴⁾	2,313		—		—		2,313
December 31, 2018	$	738,296	$	602,274	$	125,301	$	10,721
Cash and cash equivalents	$	22,457	$	2,010	$	20,447	$	—
Equity securities- Mutual funds ⁽¹⁾	534,479		427,391		107,088		—
Bond funds ⁽²⁾	273,979		211,372		62,607		—
Insurance Contracts⁽³⁾	—		—		—		—
Other ⁽⁴⁾	4,224		—		—		4,224
December 31, 2019	$	835,139	$	640,773	$	190,142	$	4,224

⁽¹⁾This category consists of domestic and international equity securities. It is comprised of U.S. securities benchmarked against the S&P 500 index and Russell 2000 index, international mutual funds benchmarked against the MSCI EAFE index, global equity index mutual funds associated with our U.K. based pension plans and balanced funds associated with the U.K. and Canadian based pension plans.

⁽²⁾This category consists of domestic and international bonds. The domestic fixed income securities are benchmarked against the Bloomberg Barclays Capital Aggregate Bond index, actively-managed bond mutual funds comprised of domestic investment grade debt, fixed income derivatives, and below investment-grade issues, U.S. mortgage backed securities, asset backed securities, municipal bonds, and convertible debt. International bonds consist of bond mutual funds for institutional investors associated with the CW Pension Plan, Switzerland, and U.K. based pension plans.

⁽³⁾This category had consisted of a guaranteed investment contract (GIC) in Switzerland. Effective January 2019, the Corporation replaced the collective foundation administering the plan and the GIC was not an available offering in the new plan.

⁽⁴⁾This category consists primarily of real estate investment trusts in Switzerland.

Valuation

Equity securities and exchange-traded equity and bond mutual funds are valued using a market approach based on the quoted market prices of identical instruments. Pooled institutional funds are valued at their net asset values and are calculated by the sponsor of the fund.

Fixed income securities are primarily valued using a market approach utilizing various underlying pricing sources and methodologies. Real estate investment trusts are priced at net asset value based on valuations of the underlying real estate holdings using inputs such as discounted cash flows, independent appraisals, and market-based comparable data.

Cash balances in the United States are held in a pooled fund and classified as a Level 2 asset. Non-U.S. cash is valued using a market approach based on quoted market prices of identical instruments.

The following table presents a reconciliation of Level 3 assets held during the years ended December 31, 2019 and 2018:


(In thousands)	Insurance Contracts		Other		Total
December 31, 2017	$	10,912	$	2,191	$	13,103
Actual return on plan assets:
Relating to assets still held at the reporting date	163		(13)		150
Purchases, sales, and settlements	(2,595)		152		(2,443)
Foreign currency translation adjustment	(72)		(17)		(89)
December 31, 2018	$	8,408	$	2,313	$	10,721
Actual return on plan assets:
Relating to assets still held at the reporting date	—		115		115
Purchases, sales, and settlements	(8,408)		1,715		(6,693)
Foreign currency translation adjustment	—		81		81
December 31, 2019	$	—	$	4,224	$	4,224

Benefit Payments

The following benefit payments, which reflect expected future service, as appropriate, are expected to be paid from the plans:


(In thousands)	Pension Plans		Postretirement Plans		Total
2020	$	49,446	$	1,547	$	50,993
2021	51,481		1,594		53,075
2022	52,608		1,589		54,197
2023	53,597		1,592		55,189
2024	57,406		1,566		58,972
2025 — 2029	282,548		7,306		289,854

Defined Contribution Retirement Plans

The Corporation offers all of its domestic employees the opportunity to participate in a defined contribution plan. Costs incurred by the Corporation in the administration and record keeping of the defined contribution plan are paid for by the Corporation and are not considered material.

Effective January 1, 2014, all non-union employees who were not currently receiving final or career average pay benefits became eligible to receive employer contributions in the Corporation's sponsored 401(k) plan, including both employer match and non-elective contribution components. Effective January 1, 2019, the employer contribution was increased to a maximum of 7% of eligible compensation from 6% previously. During the year ended December 31, 2019, the expense relating to the plan was $17.8 million, consisting of $9.1 million in matching contributions to the plan in 2019, and $8.7 million in non-elective contributions paid in January 2020. Cumulative contributions of approximately $97 million are expected to be made from 2020 through 2024.

In addition, the Corporation had foreign pension costs under various defined contribution plans of $5.3 million, $5.3 million, and $4.2 million in 2019, 2018, and 2017, respectively.

SEGMENT INFORMATION

12 Months Ended

Dec. 31, 2019

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: Commercial/Industrial, Defense, and Power, as described below in further detail.

The Commercial/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. The products offered include electronic throttle control devices and transmission shifters, electro-mechanical actuation control components, valves, and surface technology services such as shot peening, laser peening, coatings, and advanced testing.

The Defense 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, weapons handling systems, avionics and electronics, flight test equipment, and aircraft data management solutions.

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

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, its Chief Executive Officer.

Net sales and operating income by reportable segment are as follows:


	Year Ended December 31,
(In thousands)	2019		2018		2017
Net sales
Commercial/Industrial	$	1,240,697	$	1,209,943	$	1,163,510
Defense	580,845		559,058		557,954
Power	670,950		649,754		554,048
Less: Intersegment Revenues	(4,531)		(6,920)		(4,486)
Total Consolidated	$	2,487,961	$	2,411,835	$	2,271,026


(In thousands)	2019		2018		2017
Operating income (expense)
Commercial/Industrial	$	196,455	$	182,669	$	168,146
Defense	129,653		128,446		109,338
Power	112,954		98,858		81,119
Corporate and Eliminations ⁽¹⁾	(35,109)		(36,347)		(33,483)
Total Consolidated	$	403,953	$	373,626	$	325,120


Depreciation and amortization expense
Commercial/Industrial	$	48,227	$	50,690	$	53,180
Defense	21,495		20,578		20,702
Power	28,589		27,737		22,019
Corporate	4,101		3,944		4,094
Total Consolidated	$	102,412	$	102,949	$	99,995


Segment assets
Commercial/Industrial	$	1,470,477	$	1,398,601	$	1,444,097
Defense	1,184,116		961,298		1,044,776
Power	804,432		720,073		482,753
Corporate	305,236		175,413		264,695
Total Consolidated	$	3,764,261	$	3,255,385	$	3,236,321


Capital expenditures
Commercial/Industrial	$	34,077	$	30,411	$	29,028
Defense	4,034		5,793		9,276
Power	28,051		11,350		10,039
Corporate	3,590		5,863		4,362
Total Consolidated	$	69,752	$	53,417	$	52,705

⁽¹⁾ Corporate and Eliminations includes pension expense, environmental remediation and administrative expenses, legal, foreign currency transactional gains and losses, and other expenses.

Reconciliations


	Year Ended December 31,
(In thousands)	2019		2018		2017
Earnings before taxes:
Total segment operating income	$	439,062	$	409,973	$	358,603
Corporate and Eliminations	(35,109)		(36,347)		(33,483)
Interest expense	31,347		33,983		41,471
Other income, net	23,856		16,596		15,970
Total consolidated earnings before tax	$	396,462	$	356,239	$	299,619


	As of December 31,
(In thousands)	2019		2018		2017
Assets:
Total assets for reportable segments	$	3,459,025	$	3,079,972	$	2,971,626
Non-segment cash	235,260		138,053		204,664
Other assets	69,976		37,360		60,031
Total consolidated assets	$	3,764,261	$	3,255,385	$	3,236,321

Geographic Information


	Year Ended December 31,
(In thousands)	2019		2018		2017
Revenues
United States of America	$	1,710,371	$	1,623,511	$	1,562,180
United Kingdom	120,297		126,439		118,350
Other foreign countries	657,293		661,885		590,496
Consolidated total	$	2,487,961	$	2,411,835	$	2,271,026


	As of December 31,
(In thousands)	2019		2018		2017
Long-Lived Assets - Property, plant, and equipment, net
United States of America	$	271,609	$	258,504	$	264,829
United Kingdom	34,228		34,649		41,100
Other foreign countries	79,756		81,507		84,306
Consolidated total	$	385,593	$	374,660	$	390,235

Net sales by product line


	Year Ended December 31,
(In thousands)	2019		2018		2017
Net sales
Flow Control	$	1,051,821	$	1,008,262	$	899,705
Motion Control	1,130,593		1,090,703		1,075,218
Surface Technologies	305,547		312,870		296,103
Consolidated total	$	2,487,961	$	2,411,835	$	2,271,026

The Flow Control products include valves, pumps, motors, generators, and instrumentation that manage the flow of liquids and gases, generate power, and monitor or provide critical functions. Motion Control's products include turret aiming and stabilization products, embedded computing board level modules, electronic throttle control devices, transmission shifters, and electro-mechanical actuation control components. Surface Technologies include shot peening, laser peening, and coatings services that enhance the durability, extend the life, and prevent premature fatigue and failure on customer-supplied metal components.

CONTINGENCIES AND COMMITMENTS	12 Months Ended
CONTINGENCIES AND COMMITMENTS	Dec. 31, 2019
Commitments and Contingencies Disclosure [Abstract]
CONTINGENCIES AND COMMITMENTS	18. CONTINGENCIES AND COMMITMENTS Legal Proceedings The Corporation has been named in a number of lawsuits that allege injury from exposure to asbestos. To date, the Corporation has not been found liable for or paid any material sum of money in settlement in any asbestos-related case. The Corporation believes its minimal use of asbestos in its past operations and the relatively non-friable condition of asbestos in its products make it unlikely that it will face material liability in any asbestos litigation, whether individually or in the aggregate. The Corporation maintains insurance coverage for these potential liabilities and believes adequate coverage exists to cover any unanticipated asbestos liability. In December 2013, the Corporation, along with other unaffiliated parties, received a claim from Canadian Natural Resources Limited (CNRL) filed in the Court of Queen's Bench of Alberta, Judicial District of Calgary. The claim pertains to a January 2011 fire and explosion at a delayed coker unit at its Fort McMurray refinery that resulted in the injury of five CNRL employees, damage to property and equipment, and various forms of consequential loss such as loss of profit, lost opportunities, and business interruption. The fire and explosion occurred when a CNRL employee bypassed certain safety controls and opened an operating coker unit. In November 2019, all parties participated in a formal mediation and agreed to settle the claim for approximately $38 million. The Corporation’s portion of the settlement amount was $6 million, which was fully paid in 2020 by the Corporation's primary and excess insurance coverage. No admission of liability was made by the Corporation as part of the settlement agreement. The Corporation does not expect to incur any additional liabilities related to this claim. The Corporation is party to a number of other legal actions and claims, none of which individually or in the aggregate, in the opinion of management, are expected to have a material effect on the Corporation’s results of operations or financial position. Letters of Credit and Other Arrangements The Corporation enters into standby letters of credit agreements and guarantees with financial institutions and customers primarily relating to guarantees of repayment, future performance on certain contracts to provide products and services, and to secure advance payments from certain international customers. As of December 31, 2019 and 2018, there were $32.6 million and $21.7 million of stand-by letters of credit outstanding, respectively, and $10.8 million and $11.7 million of bank guarantees outstanding, respectively. The Corporation, through its Electro-Mechanical Division (EMD) business unit, has three Pennsylvania Department of Environmental Protection (PADEP) radioactive materials licenses that are utilized in the continued operation of the EMD business. In connection with these licenses, the Corporation has known conditional asset retirement obligations related to asset decommissioning activities to be performed in the future, when the Corporation terminates these licenses. For two of the three licenses, the Corporation has recorded an asset retirement obligation of approximately $7.5 million. For its third license, the Corporation has not recorded an asset retirement obligation as it is not reasonably estimable due to insufficient information about the timing and method of settlement of the obligation. Accordingly, this obligation has not been recorded in the Consolidated Financial Statements. A liability for this obligation will be recorded in the period when sufficient information regarding timing and method of settlement becomes available to make a reasonable estimate of the liability’s fair value. The Corporation is required to provide the Nuclear Regulatory Commission financial assurance demonstrating its ability to cover the cost of decommissioning its Cheswick, Pennsylvania facility upon closure, though the Corporation does not intend to close this facility. The Corporation has provided this financial assurance in the form of a $45.6 million surety bond. AP1000 Program Within the Corporation’s Power segment, EMD is the RCP supplier for the WEC AP1000 nuclear power plants under construction in China and the United States. The terms of the AP1000 China and U.S. contracts include liquidated damage provisions for failure to meet contractual delivery dates if the Corporation caused the delay and the delay was not excusable. The Corporation would be liable for liquidated damages if the Corporation was deemed responsible for not meeting the delivery dates. On October 10, 2013, the Corporation received a letter from WEC stating entitlements to the maximum amount of liquidated damages allowable under the AP1000 China contract from WEC of approximately $25 million. As of December 31, 2019, the Corporation has not met certain contractual delivery dates under its AP1000 U.S. and China contracts; however, there are significant counterclaims and uncertainties as to which parties are responsible for the delays. The Corporation believes it has adequate legal defenses and intends to vigorously defend this matter. Given the uncertainties surrounding the responsibility for the delays, no accrual has been made for this matter as of December 31, 2019. As of December 31, 2019, the range of possible loss is $0 million to $31 million for the AP1000 U.S. contract, for a total range of possible loss of $0 to $55.5 million.

ACCUMULATED OTHER COMPREHENSIVE INCOME LOSS

12 Months Ended

Dec. 31, 2019

Comprehensive Income [Abstract]

ACCUMULATED OTHER COMPREHENSIVE INCOME LOSS

19. ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)

The total cumulative balance of each component of accumulated other comprehensive income (loss), net of tax, is as follows:


(In thousands)	Foreign currency translation adjustments, net		Total pension and postretirement adjustments, net		Accumulated other comprehensive income (loss)
December 31, 2017	$	(94,708)	$	(122,132)	$	(216,840)
Other comprehensive loss before reclassifications ⁽¹⁾	(52,440)		(31,380)		(83,820)
Amounts reclassified from accumulated other comprehensive income ⁽¹⁾	—		12,213		12,213
Net current period other comprehensive loss	(52,440)		(19,167)		(71,607)
December 31, 2018	$	(147,148)	$	(141,299)	$	(288,447)
Other comprehensive loss before reclassifications ⁽¹⁾	18,447		(35,212)		(16,765)
Amounts reclassified from accumulated other comprehensive income ⁽¹⁾	—		6,195		6,195
Net current period other comprehensive income (loss)	18,447		(29,017)		(10,570)
Cumulative effect from adoption of ASU 2018-02 ⁽²⁾	$	(1,318)	$	(24,939)	$	(26,257)
December 31, 2019	$	(130,019)	$	(195,255)	$	(325,274)

⁽¹⁾All amounts are after tax.

⁽²⁾Reclassification to retained earnings due to adoption of ASU No. 2018-02, Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income. See Note 1 for additional information.

Details of amounts reclassified from accumulated other comprehensive income (loss) are below:


	Amount reclassified from Accumulated other comprehensive income (loss)					Affected line item in the statement where net earnings is presented
(In thousands)	2019		2018
Defined benefit pension and postretirement plans
Amortization of prior service costs	939		908		⁽¹⁾
Amortization of net actuarial losses	(9,112)		(16,736)		⁽¹⁾
Settlements	—		(337)		⁽¹⁾
	(8,173)		(16,165)		Total before tax
	1,978		3,952		Income tax effect
Total reclassifications	$	(6,195)	$	(12,213)	Net of tax

(1)These items are included in the computation of net periodic pension cost. See Note 16, Pension and Other Postretirement Benefit Plans.

QUARTERLY RESULTS OF OPERATIONS

12 Months Ended

Dec. 31, 2019

Quarterly Financial Information Disclosure [Abstract]

QUARTERLY RESULTS OF OPERATIONS

20. QUARTERLY RESULTS OF OPERATIONS (UNAUDITED)

The following tables set forth selected unaudited quarterly Consolidated Statements of Earnings information for the fiscal years ended December 31, 2019 and 2018.


(In thousands, except per share data)	First		Second		Third		Fourth
2019
Net sales	$	578,314	$	638,996	$	614,880	$	655,771
Gross profit	196,873		230,044		226,076		245,752
Net earnings	55,593		80,072		82,510		89,408

Net earnings per share
Basic earnings per share	$	1.30	$	1.87	$	1.93	$	2.09
Diluted earnings per share	$	1.29	$	1.86	$	1.92	$	2.08

2018
Net sales	$	547,522	$	620,298	$	595,393	$	648,622
Gross profit	181,191		226,500		222,518		241,052
Net earnings	43,643		74,788		74,483		82,835

Net earnings per share
Basic earnings per share	$	0.99	$	1.69	$	1.70	$	1.91
Diluted earnings per share	$	0.98	$	1.68	$	1.68	$	1.89

Note: Certain amounts may not add due to rounding.

Subsequent Events	12 Months Ended
Subsequent Events	Dec. 31, 2019
Subsequent Events [Abstract]
Subsequent Events	21. SUBSEQUENT EVENTS On January 8, 2020, the Corporation made a voluntary $150 million contribution to the CW Pension Plan On February 26, 2020, the Corporation signed a definitive agreement to acquire Dyna-Flo Control Valve Services Ltd. (Dyna-Flo) for CAD$81 million (approximately $61 million). Dyna-Flo, which specializes in control valves, actuators, and control systems for the chemical, petrochemical, and oil and gas markets, generated sales of approximately $25 million for the year ended December 31, 2019. The acquired business will operate within the Commercial/Industrial segment.

SCHEDULE II VALUATION AND QUALIFYING ACCOUNTS

12 Months Ended

Dec. 31, 2019

SEC Schedule, 12-09, Valuation and Qualifying Accounts [Abstract]

SCHEDULE II VALUATION AND QUALIFYING ACCOUNTS

CURTISS-WRIGHT CORPORATION and SUBSIDIARIES

SCHEDULE II – VALUATION and QUALIFYING ACCOUNTS

for the years ended December 31, 2019, 2018, and 2017

(In thousands)


			Additions
Description	Balance at Beginning of Period		Charged to Costs and Expenses		Charged to Other Accounts			Deductions			Balance at End of Period

Deducted from assets to which they apply:
December 31, 2019
Tax valuation allowance	11,646		1,305		(22)		⁽¹⁾	9,543		⁽²⁾	3,386
Total	$	11,646	$	1,305	$	(22)		$	9,543		$	3,386
December 31, 2018
Tax valuation allowance	12,322		108		17		⁽¹⁾	801			11,646
Total	$	12,322	$	108	$	17		$	801		$	11,646
December 31, 2017
Tax valuation allowance	17,776		1,471		125		⁽¹⁾	7,050		⁽³⁾	12,322
Total	$	17,776	$	1,471	$	125		$	7,050		$	12,322

⁽¹⁾ Primarily foreign currency translation adjustments.

⁽²⁾ $5.7 million relates to the capital loss carryforward expiration from the sale of the Downstream oil and gas business.

⁽³⁾ $4.3 million relates to the reduction of the U.S. corporate income tax rate due to the Tax Act.

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)

12 Months Ended

Dec. 31, 2019

Accounting Policies [Abstract]

ConsolidationPolicy

Principles of Consolidation

The consolidated financial statements include the accounts of the Corporation and its majority-owned subsidiaries. All intercompany transactions and accounts have been eliminated.

UseOfEstimates

Use of Estimates

The financial statements of the Corporation have been prepared in conformity with accounting principles generally accepted in the United States of America (U.S. GAAP), which requires management to make estimates and judgments that affect the reported amount of assets, liabilities, revenue, and expenses and disclosure of contingent assets and liabilities in the accompanying financial statements. The most significant of these estimates includes the estimate of costs to complete long-term contracts, the estimate of useful lives for property, plant, and equipment, cash flow estimates used for testing the recoverability of assets, pension plan and postretirement obligation assumptions, estimates for inventory obsolescence, estimates for the valuation and useful lives of intangible assets and legal reserves. Actual results may differ from these estimates.

CashAndCashEquivalentsPolicyTextBlock

Cash and Cash Equivalents

Cash equivalents consist of money market funds and commercial paper that are readily convertible into cash, all with original maturity dates of three months or less.

InventoryPolicyTextBlock

Inventory

Inventories are stated at lower of cost or net realizable value. Production costs are comprised of direct material and labor and applicable manufacturing overhead.

Progress Payments [Policy Text Block]

Progress Payments

Certain long-term contracts provide for interim billings as costs are incurred on the respective contracts. Pursuant to contract provisions, agencies of the U.S. Government and other customers obtain control of promised goods or services to the extent that progress payments are received. Accordingly, these receipts have been reported as a reduction of unbilled receivables as presented in Note 4 to the Consolidated Financial Statements. In the event that progress payments received exceed revenue recognized to date on a specific contract, a contract liability has been established with such amount reported in the "Deferred revenue" line within the Consolidated Balance Sheet.

The Corporation also receives progress payments on development contracts related to certain aerospace and defense programs. Progress payments received on partially funded development contracts have been reported as a reduction of inventories, as presented in Note 5 to the Consolidated Financial Statements.

PropertyPlantAndEquipmentPolicyTextBlock

Property, Plant, and Equipment

Property, plant, and equipment are carried at cost less accumulated depreciation. Major renewals and betterments are capitalized, while maintenance and repairs that do not improve or extend the life of the asset are expensed in the period that they are incurred. Depreciation is computed using the straight-line method over the estimated useful lives of the respective assets.

Average useful lives for property, plant, and equipment are as follows:


Buildings and improvements			5 to 40 years
Machinery, equipment, and other			3 to 15 years

GoodwillAndIntangibleAssetsIntangibleAssetsPolicy

Intangible Assets

Intangible assets are generally the result of acquisitions and consist primarily of purchased technology, customer related intangibles, trademarks, and technology licenses. Intangible assets are amortized on a straight-line basis over their estimated useful lives, which range from 1 to 20 years. See Note 8 to the Consolidated Financial Statements for further information on other intangible assets.

ImpairmentOrDisposalOfLongLivedAssetsPolicyTextBlock

Impairment of Long-Lived AssetsThe Corporation reviews the recoverability of all long-lived assets, including the related useful lives, whenever events or changes in circumstances indicate that the carrying amount of a long-lived asset might not be recoverable. If required, the Corporation compares the estimated fair value determined by either the undiscounted future net cash flows or appraised value to the related asset’s carrying value to determine whether there has been an impairment. If an asset is considered impaired, the asset is written down to fair value in the period in which the impairment becomes known. The Corporation recognized no significant impairment charges on assets held in use during the years ended December 31, 2019, 2018, and 2017.

Goodwill and Intangible Assets, Goodwill, Policy [Policy Text Block]

Goodwill

Goodwill results from business acquisitions. The Corporation accounts for business acquisitions by allocating the purchase price to the tangible and intangible assets acquired and liabilities assumed. Assets acquired and liabilities assumed are recorded at their fair values, and the excess of the purchase price over the amounts allocated is recorded as goodwill. The recoverability of goodwill is subject to an annual impairment test or whenever an event occurs or circumstances change that would more likely than not result in an impairment. The impairment test is based on the estimated fair value of the underlying businesses. The Corporation’s goodwill impairment test is performed annually in the fourth quarter of each year. See Note 7 to the Consolidated Financial Statements for further information on goodwill.

FairValueOfFinancialInstrumentsPolicy

Fair Value of Financial InstrumentsAccounting guidance requires certain disclosures regarding the fair value of financial instruments. Due to the short maturities of cash and cash equivalents, accounts receivable, accounts payable, and accrued expenses, the net book value of these financial instruments is deemed to approximate fair value. See Notes 10 and 13 to the Consolidated Financial Statements for further information on the Corporation's financial instruments.

ResearchAndDevelopmentExpensePolicy

Research and Development

The Corporation funds research and development programs for commercial products and independent research and development and bid and proposal work related to government contracts. Development costs include engineering for new customer requirements. Corporation-sponsored research and development costs are expensed as incurred.

Research and development costs associated with customer-sponsored programs are capitalized to inventory and are recorded in cost of sales when products are delivered or services performed. Funds received under shared development contracts are a reduction of the total development expenditures under the shared contract and are shown net as research and development costs.

ShareBasedCompensationOptionAndIncentivePlansPolicy

Accounting for Share-Based Payments

The Corporation follows the fair value based method of accounting for share-based employee compensation, which requires the Corporation to expense all share-based employee compensation. Share-based employee compensation is a non-cash expense since the Corporation settles these obligations by issuing the shares of Curtiss-Wright Corporation instead of settling such obligations with cash payments.

Compensation expense for non-qualified share options, performance shares, and time-based restricted stock is recognized over the requisite service period for the entire award based on the grant date fair value.

IncomeTaxPolicyTextBlock

Income Taxes

The Corporation accounts for income taxes using the asset and liability method. Under the asset and liability method, deferred tax assets and liabilities are recognized for future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. The effect on deferred tax assets and liabilities of a change in tax laws is recognized in the results of operations in the period the new laws are enacted. A valuation allowance is recorded to reduce the carrying amounts of deferred tax assets unless it is more likely than not that such assets will be realized.

The Corporation records amounts related to uncertain income tax positions by 1) prescribing a minimum recognition threshold a tax position is required to meet before being recognized in the financial statements and 2) the measurement of the income tax benefits recognized from such positions. The Corporation’s accounting policy is to classify uncertain income tax positions that are not expected to be resolved in one year as a non-current income tax liability and to classify interest and penalties as a component of interest expense and general and administrative expenses, respectively. See Note 12 to the Consolidated Financial Statements for further information.

ForeignCurrencyTransactionsAndTranslationsPolicyTextBlock

Foreign Currency

For operations outside the United States of America that prepare financial statements in currencies other than the U.S. dollar, the Corporation translates assets and liabilities at period-end exchange rates and income statement amounts using weighted-average exchange rates for the period. The cumulative effect of translation adjustments is presented as a component of accumulated other comprehensive income (loss) within stockholders’ equity. This balance is primarily affected by foreign currency exchange rate fluctuations. (Gains) and losses from foreign currency transactions are included in General and administrative expenses in the Consolidated Statement of Earnings, which amounted to $7.2 million, $(4.5) million, and $5.4 million for the years ended December 31, 2019, 2018, and 2017, respectively.

DerivativesPolicyTextBlock

Derivatives

Forward Foreign Exchange and Currency Option Contracts

The Corporation uses financial instruments, such as forward exchange and currency option contracts, to hedge a portion of existing and anticipated foreign currency denominated transactions. The purpose of the Corporation’s foreign currency risk management program is to reduce volatility in earnings caused by exchange rate fluctuations. All of the derivative financial instruments are recorded at fair value based upon quoted market prices for comparable instruments, with the gain or loss on these transactions recorded into earnings in the period in which they occur. These (gains) and losses are classified as General and administrative expenses in the Consolidated Statement of Earnings and amounted to ($2.1) million, $6.6 million, and ($0.3) million for the years ended December 31, 2019, 2018, and 2017, respectively. The Corporation does not use derivative financial instruments for trading or speculative purposes.

Interest Rate Risks and Related Strategies

The Corporation’s primary interest rate exposure results from changes in U.S. dollar interest rates. The Corporation’s policy is to manage interest cost using a mix of fixed and variable rate debt. The Corporation periodically uses interest rate swaps to manage such exposures. Under these interest rate swaps, the Corporation exchanges, at specified intervals, the difference between fixed and floating interest amounts calculated by reference to an agreed-upon notional principal amount.

For interest rate swaps designated as fair value hedges (i.e., hedges against the exposure to changes in the fair value of an asset or a liability or an identified portion thereof that is attributable to a particular risk), changes in the fair value of the interest rate swaps offset changes in the fair value of the fixed rate debt due to changes in market interest rates.

New Accounting Pronouncements, Policy [Policy Text Block]

Recently Issued Accounting Standards

Recent accounting standards adopted

ASU 2016-02 - Leases - On January 1, 2019, the Corporation adopted ASC 842, Leases, using the optional transition method of adoption which permits the entity to continue presenting all periods prior to January 1, 2019 under previous lease accounting guidance. In conjunction with the adoption, the Corporation elected the package of practical expedients which permits the entity to forgo reassessment of conclusions reached regarding lease existence and lease classification under previous guidance, as well as the practical expedient to not separate non-lease components. Further, the Corporation made an accounting policy election to

account for short-term leases in a manner consistent with the methodology applied under previous guidance. The adoption of this standard resulted in an increase of approximately $151 million in both total assets and total liabilities in the Corporation’s Consolidated Balance Sheet as of January 1, 2019.

ASU 2018-02 - Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income - On January 1, 2019, the Corporation adopted ASU 2018-02, Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income, which permits the reclassification of tax effects stranded in accumulated other comprehensive income to retained earnings as a result of the 2017 Tax Cuts and Jobs Act (the Tax Act). The adoption of this standard resulted in a reclassification of $26 million from accumulated other comprehensive loss to retained earnings in the Corporation’s Consolidated Balance Sheet as of January 1, 2019.

ASU 2018-14 - Changes to the Disclosure Requirements for Defined Benefit Plans - In August 2018, the FASB issued ASU 2018-14, Compensation - Retirement Benefits - Defined Benefit Plans - General (Subtopic 715-20): Disclosure Framework - Changes to the Disclosure Requirements for Defined Benefit Plans. Specifically, the amendment removes disclosure requirements for amounts classified in accumulated other comprehensive income expected to be recognized over the next year and the effects of a one-percentage-point change in the assumed health care cost trend rate on service cost, interest cost, and the benefit obligation for postretirement benefits. The amendment also requires additional disclosure around weighted-average interest crediting rates for cash balance plans, a narrative description of the reasons for significant gains and losses, and an explanation of any other significant changes in the benefit obligation or plan assets. The Corporation early adopted this standard as of December 31, 2019 and included revised disclosures within Note 16 of the Consolidated Financial Statements.

Recent accounting standards to be adopted

In June 2016, the FASB issued ASU 2016-13, Financial Instruments—Credit Losses (Topic 326), Measurement of Credit Losses on Financial Instruments. This ASU adds a current expected credit loss impairment model to U.S. GAAP that is based on expected losses rather than incurred losses whereby a broader range of reasonable and supportable information is required to be utilized in order to derive credit loss estimates. The Corporation plans to adopt the ASU as of January 1, 2020 as the standard is effective for fiscal years beginning after December 15, 2019. The Corporation is currently evaluating the impact of adopting this standard, but does not expect the adoption to have a material impact on its Consolidated Financial Statements.

REVENUE (Table)

12 Months Ended

Dec. 31, 2019

Revenue from Contract with Customer [Abstract]

Disaggregation of Revenue [Table Text Block]


Total Net Sales by End Market and Customer Type	Year Ended December 31,
(In thousands)	2019		2018		2017
Defense
Aerospace	$	416,841	$	376,951	$	372,678
Ground	93,432		97,131		96,042
Naval	568,776		486,476		408,221
Total Defense Customers	$	1,079,049	$	960,558	$	876,941

Commercial
Aerospace	$	433,038	$	414,422	$	409,384
Power Generation	392,173		431,793		423,747
General Industrial	583,701		605,062		560,954
Total Commercial Customers	$	1,408,912	$	1,451,277	$	1,394,085

Total	$	2,487,961	$	2,411,835	$	2,271,026

ACQUISITIONS (Table)

12 Months Ended

Dec. 31, 2019

Business Combinations [Abstract]

ScheduleOfBusinessAcquisitionsByAcquisitionTextBlock


(In thousands)	2019		2018
Accounts receivable	$	16,551	$	24,385
Inventory	7,608		31,875
Property, plant, and equipment	1,117		3,206
Intangible assets	94,400		146,100
Operating lease right-of-use assets, net	4,605		—
Other current and non-current assets	888		47
Current and non-current liabilities	(11,604)		(5,374)
Net tangible and intangible assets	113,565		200,239
Purchase price	185,209		210,167
Goodwill	$	71,644	$	9,928

Goodwill deductible for tax purposes	$	72,777	$	9,928

RECEIVABLES (Table)

12 Months Ended

Dec. 31, 2019

Accounts, Notes, Loans and Financing Receivable, Gross, Allowance, and Net [Abstract]

Schedule Of Accounts Notes Loans And Financing Receivable [Text Block]


(In thousands)	2019		2018
Billed receivables:
Trade and other receivables	$	418,968	$	390,306
Less: Allowance for doubtful accounts	(8,733)		(7,436)
Net billed receivables	410,235		382,870
Unbilled receivables:
Recoverable costs and estimated earnings not billed	231,067		225,810
Less: Progress payments applied	(9,108)		(14,925)
Net unbilled receivables	221,959		210,885
Receivables, net	$	632,194	$	593,755

INVENTORIES (Table)

12 Months Ended

Dec. 31, 2019

Inventory, Net [Abstract]

Schedule Of Inventory [Text Block]


(In thousands)	2019		2018
Raw material	$	183,576	$	214,442
Work-in-process	105,874		74,536
Finished goods	131,124		143,016
Inventoried costs related to U.S. Government and other long-term contracts ⁽¹⁾	70,998		54,195
Gross inventories	491,572		486,189
Less: Inventory reserves	(58,594)		(55,776)
Progress payments applied	(8,143)		(6,987)
Inventories, net	$	424,835	$	423,426

PROPERTY, PLANT, AND EQUIPMENT (Table)

12 Months Ended

Dec. 31, 2019

Property, Plant and Equipment [Abstract]

Property, Plant and Equipment [Table Text Block]


(In thousands)	2019		2018
Land	$	18,632	$	18,548
Buildings and improvements	234,112		226,743
Machinery, equipment, and other	849,527		801,169
Property, plant, and equipment, at cost	1,102,271		1,046,460
Less: Accumulated depreciation	(716,678)		(671,800)
Property, plant, and equipment, net	$	385,593	$	374,660

GOODWILL (Table)

12 Months Ended

Dec. 31, 2019

Goodwill [Abstract]

Schedule Of Goodwill [Text Block]


(In thousands)	Commercial/Industrial		Defense		Power		Consolidated
December 31, 2017	$	448,531	$	460,332	$	187,466	$	1,096,329
Acquisitions	—		—		9,928		9,928
Divestitures	(111)		(1,594)		—		(1,705)
Foreign currency translation adjustment	(6,405)		(9,867)		(248)		(16,520)
December 31, 2018	$	442,015	$	448,871	$	197,146	$	1,088,032
Acquisitions	—		71,644		—		71,644
Adjustments	—		(208)		—		(208)
Foreign currency translation adjustment	2,099		4,962		151		7,212
December 31, 2019	$	444,114	$	525,269	$	197,297	$	1,166,680

OTHER INTANGIBLE ASSETS, NET (Table)

12 Months Ended

Dec. 31, 2019

Intangible Assets, Net (Excluding Goodwill) [Abstract]

Schedule of Finite-Lived Intangible Assets [Table Text Block]


	2019										2018
(In thousands)	Gross		Accumulated Amortization		Net		Gross		Accumulated Amortization		Net
Technology	$	257,676	$	(140,390)	$	117,286	$	238,212	$	(123,156)	$	115,056
Customer related intangibles	434,492		(215,855)		218,637		358,832		(193,455)		165,377
Programs ⁽¹⁾	144,000		(12,600)		131,400		144,000		(5,400)		138,600
Other intangible assets	43,729		(31,145)		12,584		40,340		(29,806)		10,534
Total	$	879,897	$	(399,990)	$	479,907	$	781,384	$	(351,817)	$	429,567

Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block]


(In thousands)
2020	$	55,360
2021	45,692
2022	43,149
2023	39,398
2024	36,010

LEASES (Tables)

12 Months Ended

Dec. 31, 2019

Leases [Abstract]

Lease, Cost

The components of lease expense were as follows:


	Year Ended
(In thousands)	December 31, 2019
Operating lease cost	$	37,229

Finance lease cost:
Depreciation of finance leases	$	812
Interest on lease liabilities	498
Total finance lease cost	$	1,310

Supplemental cash flow information related to leases was as follows:


	Year Ended
(In thousands)	December 31, 2019
Cash used for operating activities:
Operating cash flows used for operating leases	$	(30,665)
Operating cash flows used for finance leases	(498)
Non-cash activity:
Right-of-use assets obtained in exchange for operating lease obligations	$	36,033

Assets And Liabilities, Lessee

Supplemental balance sheet information related to leases was as follows:


(In thousands, except lease term and discount rate)	As of December 31, 2019
Operating Leases
Operating lease right-of-use assets, net	$	165,490

Other current liabilities	$	26,773
Long-term operating lease liability	145,124
Total operating lease liabilities	$	171,897

Finance Leases
Property, plant, and equipment	$	15,561
Accumulated depreciation	(5,533)
Property, plant, and equipment, net	$	10,028

Other current liabilities	$	807
Other liabilities	10,982
Total finance lease liabilities	$	11,789

Weighted average remaining lease term
Operating leases	9.2 years
Finance leases	9.7 years
Weighted average discount rate
Operating leases	3.75		%
Finance leases	4.05		%

Lessee, Operating Lease, Liability, Maturity

Maturities of lease liabilities were as follows:


	As of December 31, 2019
(In thousands)	Operating Leases		Finance Leases
2020	$	32,528	$	1,342
2021	29,729		1,375
2022	23,432		1,410
2023	21,168		1,445
2024	18,640		1,481
Thereafter	79,982		7,411
Total lease payments	205,479		14,464
Less: imputed interest	(33,582)		(2,675)
Total	$	171,897	$	11,789

Finance Lease, Liability, Maturity

Maturities of lease liabilities were as follows:


	As of December 31, 2019
(In thousands)	Operating Leases		Finance Leases
2020	$	32,528	$	1,342
2021	29,729		1,375
2022	23,432		1,410
2023	21,168		1,445
2024	18,640		1,481
Thereafter	79,982		7,411
Total lease payments	205,479		14,464
Less: imputed interest	(33,582)		(2,675)
Total	$	171,897	$	11,789

Schedule Of Future Minimum Rental Payments For Operating Leases

As of December 31, 2018, the approximate future minimum rental commitments under operating leases that had initial or remaining non-cancelable lease terms in excess of one year were as follows:


(In thousands)	Rental Commitments
2019	$	29,562
2020	28,514
2021	24,501
2022	19,996
2023	19,778
Thereafter	93,974
Total	$	216,325

FAIR VALUE OF FINANCIAL INSTRUMENTS (Table)

12 Months Ended

Dec. 31, 2019

Fair Value Of Financial Instruments [Abstract]

Derivatives Not Designated as Hedging Instruments [Table Text Block]


(In thousands)	2019		2018		2017
Forward exchange contracts:
General and administrative expenses	$	(2,072)	$	6,643	$	(346)

ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES (Table)

12 Months Ended

Dec. 31, 2019

Accrued Liabilities, Current [Abstract]

ScheduleOfAccruedLiabilitiesTableTextBlock


(In thousands)	2019		2018
Accrued compensation	$	119,293	$	118,479
Accrued commissions	6,678		7,769
Accrued interest	8,982		8,944
Accrued insurance	7,550		6,951

Other	22,241		24,811
Total accrued expenses	$	164,744	$	166,954

Schedule Of Other Liabilities [Table Text Block]


(In thousands)	2019		2018
Short-term lease liabilities	$	26,773	$	—
Warranty reserves	$	17,512	$	17,293
Pension and other postretirement liabilities	6,690		6,528
Other	23,227		21,008
Total other current liabilities	$	74,202	$	44,829

INCOME TAXES (Table)

12 Months Ended

Dec. 31, 2019

Income Tax Disclosure [Abstract]

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


(In thousands)	2019		2018		2017
Domestic	$	273,036	$	217,374	$	179,006
Foreign	123,426		138,865		120,613
	$	396,462	$	356,239	$	299,619

Schedule Of Provision For Income Taxes [Table Text Block]


(In thousands)	2019		2018		2017
Current:
Federal	$	14,195	$	37,648	$	54,963
State	3,766		9,228		2,648
Foreign	24,816		25,285		23,162
Total current	42,777		72,161		80,773

Deferred:
Federal	38,647		8,518		2,595
State	6,632		(1,047)		4,282
Foreign	823		858		(2,922)
Total deferred	46,102		8,329		3,955
Provision for income taxes	$	88,879	$	80,490	$	84,728

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


	2019		2018		2017
U.S. federal statutory tax rate	21.0	%	21.0	%	35.0	%
Add (deduct):
State and local taxes, net of federal benefit	2.4		2.2		1.8
R&D tax credits	(1.2)		(1.0)		(1.3)
Foreign earnings ⁽¹⁾	1.4		0.9		(6.0)
Stock compensation - excess tax benefits	(0.8)		(1.3)		(2.6)
Impacts related to the Tax Act	—		1.8		3.4
Foreign-derived intangible income	(1.3)		(0.8)		—
All other, net	0.9		(0.2)		(2.0)
Effective tax rate	22.4	%	22.6	%	28.3	%

(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.

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)	2019		2018
Deferred tax assets:
Operating lease liabilities	$	35,299	$	—
Inventories, net	15,220		14,154
Net operating loss	8,328		9,868
Environmental reserves	8,239		8,613
Incentive compensation	8,130		8,472
Pension and other postretirement liabilities	5,029		35,656
Capital loss carryover	955		6,972
Other	33,002		27,795
Total deferred tax assets	114,202		111,530
Deferred tax liabilities:
Goodwill amortization	77,620		70,850
Operating lease right-of-use assets, net	33,915		—
Other intangible amortization	30,954		33,600
Depreciation	25,562		24,983
Withholding taxes	13,097		10,300
Other	7,524		5,345
Total deferred tax liabilities	188,672		145,078
Valuation allowance	3,386		11,646
Net deferred tax liabilities	$	77,856	$	45,194

Deferred tax assets and liabilities are reflected on the Corporation’s consolidated balance sheet as of December 31 as follows:


(In thousands)	2019		2018
Net noncurrent deferred tax assets	2,303		1,927
Net noncurrent deferred tax liabilities	80,159		47,121
Net deferred tax liabilities	$	77,856	$	45,194

Summary Of Unrecognized Tax Benefits [Table Text Block]


(In thousands)	2019		2018		2017
Balance as of January 1,	$	13,563	$	13,174	$	11,454
Additions for tax positions of prior periods	581		88		1,069
Reductions for tax positions of prior periods	(2,184)		(290)		(194)
Additions for tax positions related to the current year	936		1,036		1,273
Settlements	(220)		(445)		(428)
Balance as of December 31,	$	12,676	$	13,563	$	13,174

Summary Of Open Tax Years [Table Text Block]


United States (Federal)	2016	-	present
United States (Various states)	2008	-	present
United Kingdom	2012	-	present
Canada	2013	-	present

DEBT (Table)

12 Months Ended

Dec. 31, 2019

Debt Instruments [Abstract]

Summary of Debt

Debt consists of the following as of December 31:


(In thousands)	2019		2019		2018		2018
	Carrying Value		Estimated Fair Value		Carrying Value		Estimated Fair Value
3.84% Senior notes due 2021	100,000		102,079		100,000		100,359
3.70% Senior notes due 2023	202,500		207,882		202,500		201,813
3.85% Senior notes due 2025	90,000		93,838		90,000		89,711
4.24% Senior notes due 2026	200,000		213,126		200,000		202,288
4.05% Senior notes due 2028	67,500		71,260		67,500		66,942
4.11% Senior notes due 2028	90,000		95,607		90,000		89,647
Other debt	—		—		243		243
Total debt	750,000		783,792		750,243		751,003
Debt issuance costs, net	(594)		(594)		(714)		(714)
Unamortized interest rate swap proceeds ⁽¹⁾	11,233		11,233		13,027		13,027
Total debt, net	760,639		794,431		762,556		763,316
Less: current portion of long-term debt and short-term debt	—		—		243		243
Total long-term debt	$	760,639	$	794,431	$	762,313	$	763,073

Aggregate Maturities of Debt

Aggregate maturities of debt are as follows:


(In thousands)
2020	$	—
2021	100,000
2022	—
2023	202,500
2024	—
Thereafter	447,500
Total	$	750,000

EARNINGS PER SHARE (Table)

12 Months Ended

Dec. 31, 2019

Earnings Per Share [Abstract]

Schedule of Earnings Per Share Reconciliation [Table Text Block]


(In thousands, except per share data)	Net Earnings		Weighted- Average Shares Outstanding	Earnings per Share
2019
Basic earnings per share	$	307,583	42,739	$	7.20
Dilutive effect of stock options and deferred stock compensation			277
Diluted earnings per share	$	307,583	43,016	$	7.15
2018
Basic earnings per share	$	275,749	43,892	$	6.28
Dilutive effect of stock options and deferred stock compensation			424
Diluted earnings per share	$	275,749	44,316	$	6.22
2017
Basic earnings per share	$	214,891	44,182	$	4.86
Dilutive effect of stock options and deferred stock compensation			579
Diluted earnings per share	$	214,891	44,761	$	4.80

SHARE-BASED COMPENSATION PLANS (Table)

12 Months Ended

Dec. 31, 2019

Share-based Payment Arrangement, Noncash Expense [Abstract]

Schedule Of Compensation Cost For Share Based Payment Arrangements Allocation Of Share Based Compensation Costs By Plan [Table Text Block]


(In thousands)	2019		2018		2017
Employee Stock Purchase Plan	1,585		1,435		1,207
Performance Share Units	4,853		4,746		4,340
Restricted Share Units	6,061		7,026		4,931
Other share-based payments	1,170		887		1,094
Total share-based compensation expense before income taxes	$	13,669	$	14,094	$	11,572

Schedule of Cash Proceeds Received from Share-based Payment Awards [Table Text Block]


(In thousands)	2019		2018		2017
Cash received from share-based awards	$	11,770	$	11,940	$	14,179

Share-based Payment Arrangement, Option, Activity [Table Text Block]


	Shares (000’s)		Weighted- Average Exercise Price				Weighted- Average Remaining Contractual Term in Years		Aggregate Intrinsic Value (000’s)
Outstanding as of December 31, 2018	158		$	30.34
Exercised	(91)		30.64
Forfeited	(1)		30.90
Outstanding as of December 31, 2019		66			$	29.93		0.9		$	7,396
Exercisable as of December 31, 2019		66			$	29.93		0.9		$	7,396

Share-based Payment Arrangement, Restricted Stock Unit, Activity [Table Text Block]


	Performance Share Units (PSUs)							Restricted Share Units (RSUs)
	Shares/Units (000’s)		Weighted- Average Fair Value			Shares/Units (000’s)		Weighted- Average Fair Value
Nonvested as of December 31, 2018		117		$	101.70		137		$	54.66
Granted	50		121.15			76		114.98
Vested	(68)		86.43			(58)		98.61
Forfeited	(2)		155.91			(6)		117.48
Nonvested as of December 31, 2019		97		$	149.99		149		$	105.42
Expected to vest as of December 31, 2019		97		$	149.99		149		$	105.42

PENSION AND OTHER POSTRETIREMENT BENEFIT PLANS (Table)

12 Months Ended

Dec. 31, 2019

Retirement Benefits, Description [Abstract]

Schedule of Net Benefit Costs [Table Text Block]


	Pension Benefits										Postretirement Benefits
(In thousands)	2019		2018		2017		2019		2018		2017
Service cost	$	23,664	$	27,116	$	25,093	$	432	$	490	$	435
Interest cost	29,019		26,149		25,895		796		719		762
Expected return on plan assets	(59,153)		(58,641)		(53,552)		—		—		—
Amortization of prior service cost	(283)		(252)		(100)		(656)		(656)		(656)
Recognized net actuarial loss/(gain)	9,310		16,867		12,925		(198)		(131)		(223)
Cost of settlements/curtailments	—		337		327		—		—		—
Net periodic benefit cost (income)	$	2,557	$	11,576	$	10,588	$	374	$	422	$	318

ScheduleOfChangesInProjectedBenefitObligationsTableTextBlock


	Pension Benefits						Postretirement Benefits
(In thousands)	2019		2018		2019		2018
Change in benefit obligation:
Beginning of year	$	814,894	$	868,887	$	22,060	$	25,035
Service cost	23,664		27,116		432		490
Interest cost	29,019		26,149		796		719
Plan participants’ contributions	1,276		1,402		346		319
Actuarial (gain) loss	118,893		(58,913)		2,124		(1,982)
Benefits paid	(43,736)		(41,962)		(2,192)		(2,521)
Actual expenses	(1,846)		(1,371)		—		—
Settlements	—		(2,228)		—		—
Currency translation adjustments	3,023		(4,186)		—		—
End of year	$	945,187	$	814,894	$	23,566	$	22,060


Change in plan assets:
Beginning of year	$	738,296	$	776,482	$	—	$	—
Actual return on plan assets	133,896		(44,876)		—		—
Employer contribution	3,867		55,311		1,846		2,203
Plan participants’ contributions	1,276		1,402		346		319

Benefits paid	(43,736)		(44,190)		(2,192)		(2,522)
Actual Expenses	(1,846)		(1,371)		—		—
Currency translation adjustments	3,386		(4,462)		—		—
End of year	$	835,139	$	738,296	$	—	$	—

Funded status	$	(110,048)	$	(76,598)	$	(23,566)	$	(22,060)


	Pension Benefits						Postretirement Benefits
(In thousands)	2019		2018		2019		2018
Amounts recognized on the balance sheet
Noncurrent assets	$	11,711	$	9,098	$	—	$	—
Current liabilities	(5,143)		(4,905)		(1,547)		(1,623)
Noncurrent liabilities	(116,616)		(80,791)		(22,019)		(20,437)
Total	$	(110,048)	$	(76,598)	$	(23,566)	$	(22,060)
Amounts recognized in accumulated other comprehensive income (AOCI)
Net actuarial loss (gain)	$	263,660	$	228,430	$	(2,429)	$	(4,751)
Prior service cost	(934)		(1,225)		(1,404)		(2,060)
Total	$	262,726	$	227,205	$	(3,833)	$	(6,811)
Information for pension plans with an accumulated benefit obligation in excess of plan assets:
Projected benefit obligation	$	881,731	$	743,632	N/A		N/A
Accumulated benefit obligation	848,309		714,146		N/A		N/A
Fair value of plan assets	759,972		658,327		N/A		N/A

ScheduleOfAssumptionsUsedTableTextBlock


	Pension Benefits						Postretirement Benefits
	2019		2018		2019		2018
Weighted-average assumptions in determination of benefit obligation:
Discount rate	3.05	%	4.09	%	3.15	%	4.20	%
Rate of compensation increase	3.46	%	3.50	%	N/A		N/A
Health care cost trends:
Rate assumed for subsequent year	N/A		N/A		7.50	%	7.85	%
Ultimate rate reached in 2026	N/A		N/A		4.50	%	4.50	%
Weighted-average assumptions in determination of net periodic benefit cost:
Discount rate	4.09	%	3.46	%	4.20	%	3.54	%
Expected return on plan assets	7.59	%	7.47	%	N/A		N/A
Rate of compensation increase	3.50	%	3.50	%	N/A		N/A
Health care cost trends:
Rate assumed for subsequent year	N/A		N/A		7.85	%	8.30	%
Ultimate rate reached in 2026	N/A		N/A		4.50	%	4.50	%

ScheduleOfAllocationOfPlanAssetsTableTextBlock


	As of December 31,			Target	Expected
	2019	2018	Exposure	Range
Asset class
Domestic equities	51%	48%	50%	40%-60%
International equities	15%	15%	15%	10%-20%
Total equity	66%	63%	65%	55%-75%
Fixed income	34%	37%	35%	25%-45%

ScheduleOfChangesInFairValueOfPlanAssetsTableTextBlock


Asset Category	Total		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Cash and cash equivalents	$	42,261	$	20,034	$	22,227	$	—
Equity securities- Mutual funds⁽¹⁾	446,434		404,509		41,925		—
Bond funds ⁽²⁾	238,880		177,731		61,149		—
Insurance Contracts ⁽³⁾	8,408		—		—		8,408
Other ⁽⁴⁾	2,313		—		—		2,313
December 31, 2018	$	738,296	$	602,274	$	125,301	$	10,721
Cash and cash equivalents	$	22,457	$	2,010	$	20,447	$	—
Equity securities- Mutual funds ⁽¹⁾	534,479		427,391		107,088		—
Bond funds ⁽²⁾	273,979		211,372		62,607		—
Insurance Contracts⁽³⁾	—		—		—		—
Other ⁽⁴⁾	4,224		—		—		4,224
December 31, 2019	$	835,139	$	640,773	$	190,142	$	4,224


(In thousands)	Insurance Contracts		Other		Total
December 31, 2017	$	10,912	$	2,191	$	13,103
Actual return on plan assets:
Relating to assets still held at the reporting date	163		(13)		150
Purchases, sales, and settlements	(2,595)		152		(2,443)
Foreign currency translation adjustment	(72)		(17)		(89)
December 31, 2018	$	8,408	$	2,313	$	10,721
Actual return on plan assets:
Relating to assets still held at the reporting date	—		115		115
Purchases, sales, and settlements	(8,408)		1,715		(6,693)
Foreign currency translation adjustment	—		81		81
December 31, 2019	$	—	$	4,224	$	4,224

ScheduleOfExpectedBenefitPaymentsTableTextBlock


(In thousands)	Pension Plans		Postretirement Plans		Total
2020	$	49,446	$	1,547	$	50,993
2021	51,481		1,594		53,075
2022	52,608		1,589		54,197
2023	53,597		1,592		55,189
2024	57,406		1,566		58,972
2025 — 2029	282,548		7,306		289,854

SEGMENT INFORMATION (Table)

12 Months Ended

Dec. 31, 2019

Segment Reporting [Abstract]

Schedule Of Segment Reporting Information By Segment [Text Block]


	Year Ended December 31,
(In thousands)	2019		2018		2017
Net sales
Commercial/Industrial	$	1,240,697	$	1,209,943	$	1,163,510
Defense	580,845		559,058		557,954
Power	670,950		649,754		554,048
Less: Intersegment Revenues	(4,531)		(6,920)		(4,486)
Total Consolidated	$	2,487,961	$	2,411,835	$	2,271,026


Depreciation and amortization expense
Commercial/Industrial	$	48,227	$	50,690	$	53,180
Defense	21,495		20,578		20,702
Power	28,589		27,737		22,019
Corporate	4,101		3,944		4,094
Total Consolidated	$	102,412	$	102,949	$	99,995


Capital expenditures
Commercial/Industrial	$	34,077	$	30,411	$	29,028
Defense	4,034		5,793		9,276
Power	28,051		11,350		10,039
Corporate	3,590		5,863		4,362
Total Consolidated	$	69,752	$	53,417	$	52,705


	Year Ended December 31,
(In thousands)	2019		2018		2017
Earnings before taxes:
Total segment operating income	$	439,062	$	409,973	$	358,603
Corporate and Eliminations	(35,109)		(36,347)		(33,483)
Interest expense	31,347		33,983		41,471
Other income, net	23,856		16,596		15,970
Total consolidated earnings before tax	$	396,462	$	356,239	$	299,619

Reconciliation of Operating Profit (Loss) from Segments to Consolidated [Table Text Block]


(In thousands)	2019		2018		2017
Operating income (expense)
Commercial/Industrial	$	196,455	$	182,669	$	168,146
Defense	129,653		128,446		109,338
Power	112,954		98,858		81,119
Corporate and Eliminations ⁽¹⁾	(35,109)		(36,347)		(33,483)
Total Consolidated	$	403,953	$	373,626	$	325,120

Reconciliation Of Assets From Segment To Consolidated [Text Block]


Segment assets
Commercial/Industrial	$	1,470,477	$	1,398,601	$	1,444,097
Defense	1,184,116		961,298		1,044,776
Power	804,432		720,073		482,753
Corporate	305,236		175,413		264,695
Total Consolidated	$	3,764,261	$	3,255,385	$	3,236,321


	As of December 31,
(In thousands)	2019		2018		2017
Assets:
Total assets for reportable segments	$	3,459,025	$	3,079,972	$	2,971,626
Non-segment cash	235,260		138,053		204,664
Other assets	69,976		37,360		60,031
Total consolidated assets	$	3,764,261	$	3,255,385	$	3,236,321

ScheduleOfRevenueFromExternalCustomersAttributedToForeignCountriesByGeographicAreaTextBlock


	Year Ended December 31,
(In thousands)	2019		2018		2017
Revenues
United States of America	$	1,710,371	$	1,623,511	$	1,562,180
United Kingdom	120,297		126,439		118,350
Other foreign countries	657,293		661,885		590,496
Consolidated total	$	2,487,961	$	2,411,835	$	2,271,026

ScheduleOfEntityWideDisclosureOnGeographicAreasLongLivedAssetsInIndividualForeignCountriesByCountryTextBlock


	As of December 31,
(In thousands)	2019		2018		2017
Long-Lived Assets - Property, plant, and equipment, net
United States of America	$	271,609	$	258,504	$	264,829
United Kingdom	34,228		34,649		41,100
Other foreign countries	79,756		81,507		84,306
Consolidated total	$	385,593	$	374,660	$	390,235

Revenue from External Customers by Products and Services [Table Text Block]


	Year Ended December 31,
(In thousands)	2019		2018		2017
Net sales
Flow Control	$	1,051,821	$	1,008,262	$	899,705
Motion Control	1,130,593		1,090,703		1,075,218
Surface Technologies	305,547		312,870		296,103
Consolidated total	$	2,487,961	$	2,411,835	$	2,271,026

ACCUMULATED OTHER COMPREHENSIVE INCOME LOSS (Table)

12 Months Ended

Dec. 31, 2019

Comprehensive Income [Abstract]

Schedule of Comprehensive Income (Loss) [Table Text Block]


(In thousands)	Foreign currency translation adjustments, net		Total pension and postretirement adjustments, net		Accumulated other comprehensive income (loss)
December 31, 2017	$	(94,708)	$	(122,132)	$	(216,840)
Other comprehensive loss before reclassifications ⁽¹⁾	(52,440)		(31,380)		(83,820)
Amounts reclassified from accumulated other comprehensive income ⁽¹⁾	—		12,213		12,213
Net current period other comprehensive loss	(52,440)		(19,167)		(71,607)
December 31, 2018	$	(147,148)	$	(141,299)	$	(288,447)
Other comprehensive loss before reclassifications ⁽¹⁾	18,447		(35,212)		(16,765)
Amounts reclassified from accumulated other comprehensive income ⁽¹⁾	—		6,195		6,195
Net current period other comprehensive income (loss)	18,447		(29,017)		(10,570)
Cumulative effect from adoption of ASU 2018-02 ⁽²⁾	$	(1,318)	$	(24,939)	$	(26,257)
December 31, 2019	$	(130,019)	$	(195,255)	$	(325,274)


	Amount reclassified from Accumulated other comprehensive income (loss)					Affected line item in the statement where net earnings is presented
(In thousands)	2019		2018
Defined benefit pension and postretirement plans
Amortization of prior service costs	939		908		⁽¹⁾
Amortization of net actuarial losses	(9,112)		(16,736)		⁽¹⁾
Settlements	—		(337)		⁽¹⁾
	(8,173)		(16,165)		Total before tax
	1,978		3,952		Income tax effect
Total reclassifications	$	(6,195)	$	(12,213)	Net of tax

QUARTERLY RESULTS OF OPERATIONS (Table)

12 Months Ended

Dec. 31, 2019

Quarterly Financial Information Disclosure [Abstract]

ScheduleOfQuarterlyFinancialInformationTableTextBlock


(In thousands, except per share data)	First		Second		Third		Fourth
2019
Net sales	$	578,314	$	638,996	$	614,880	$	655,771
Gross profit	196,873		230,044		226,076		245,752
Net earnings	55,593		80,072		82,510		89,408

Net earnings per share
Basic earnings per share	$	1.30	$	1.87	$	1.93	$	2.09
Diluted earnings per share	$	1.29	$	1.86	$	1.92	$	2.08

2018
Net sales	$	547,522	$	620,298	$	595,393	$	648,622
Gross profit	181,191		226,500		222,518		241,052
Net earnings	43,643		74,788		74,483		82,835

Net earnings per share
Basic earnings per share	$	0.99	$	1.69	$	1.70	$	1.91
Diluted earnings per share	$	0.98	$	1.68	$	1.68	$	1.89

SCHEDULE II VALUATION AND QUALIFYING ACCOUNTS (Table)

12 Months Ended

Dec. 31, 2019

SEC Schedule, 12-09, Valuation and Qualifying Accounts [Abstract]

SummaryOfValuationAllowanceTextBlock


			Additions
Description	Balance at Beginning of Period		Charged to Costs and Expenses		Charged to Other Accounts			Deductions			Balance at End of Period

Deducted from assets to which they apply:
December 31, 2019
Tax valuation allowance	11,646		1,305		(22)		⁽¹⁾	9,543		⁽²⁾	3,386
Total	$	11,646	$	1,305	$	(22)		$	9,543		$	3,386
December 31, 2018
Tax valuation allowance	12,322		108		17		⁽¹⁾	801			11,646
Total	$	12,322	$	108	$	17		$	801		$	11,646
December 31, 2017
Tax valuation allowance	17,776		1,471		125		⁽¹⁾	7,050		⁽³⁾	12,322
Total	$	17,776	$	1,471	$	125		$	7,050		$	12,322

⁽¹⁾ Primarily foreign currency translation adjustments.

⁽²⁾ $5.7 million relates to the capital loss carryforward expiration from the sale of the Downstream oil and gas business.

⁽³⁾ $4.3 million relates to the reduction of the U.S. corporate income tax rate due to the Tax Act.

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Property Plant And Equipment) (Details)	12 Months Ended
	Dec. 31, 2019
Building [Member] \| Minimum
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life	5 years
Building [Member] \| Maximum
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life	40 years
Equipment [Member] \| Minimum
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life	3 years
Equipment [Member] \| Maximum
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life	15 years

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Intangible Assets) (Details)	12 Months Ended
	Dec. 31, 2019
Minimum
Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Asset, Useful Life	1 year
Maximum
Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Asset, Useful Life	20 years

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Foreign Currency) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Foreign Currency [Abstract]
Foreign Currency Transaction Gain (Loss), Realized	$ (7.2)	$ (4.5)	$ 5.4

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Derivatives) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
General and Administrative Expense [Member]
Derivatives, Fair Value [Line Items]
Gain (Loss) on Foreign Currency Derivative Instruments Not Designated as Hedging Instruments	$ 2,072	$ (6,643)	$ 346

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES RECLASSIFICATIONS FOR ACCOUNTING PRONOUNCEMENTS (Details) - USD ($)	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Operating lease right-of-use assets, net	$ 165,490,000	$ 0
Operating Lease, Liability	171,897,000
Retained earnings	2,497,111,000	2,191,471,000
Accumulated other comprehensive loss	(325,274,000)	$ (288,447,000)	$ (216,840,000)
Accounting Standards Update 2016-02 [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Operating lease right-of-use assets, net	151,000,000
Operating Lease, Liability	151,000,000
Accounting Standards Update 2018-02 [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Retained earnings	26,000,000
Accumulated other comprehensive loss	$ (26,257,000)

REVENUE DISAGGREGATION OF REVENUE (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Disaggregation of Revenue [Line Items]
Net Sales	$ 655,771	$ 614,880	$ 638,996	$ 578,314	$ 648,622	$ 595,393	$ 620,298	$ 547,522	$ 2,487,961	$ 2,411,835	$ 2,271,026
Defense
Disaggregation of Revenue [Line Items]
Net Sales									1,079,049	960,558	876,941
Commercial [Member]
Disaggregation of Revenue [Line Items]
Net Sales									1,408,912	1,451,277	1,394,085
Defense Aerospace [Member] \| Defense
Disaggregation of Revenue [Line Items]
Net Sales									416,841	376,951	372,678
Defense Ground [Member] \| Defense
Disaggregation of Revenue [Line Items]
Net Sales									93,432	97,131	96,042
Naval [Member] \| Defense
Disaggregation of Revenue [Line Items]
Net Sales									568,776	486,476	408,221
Commercial Aerospace [Member] \| Commercial [Member]
Disaggregation of Revenue [Line Items]
Net Sales									433,038	414,422	409,384
Power Generation [Member] \| Commercial [Member]
Disaggregation of Revenue [Line Items]
Net Sales									392,173	431,793	423,747
General Industrial [Member] \| Commercial [Member]
Disaggregation of Revenue [Line Items]
Net Sales									$ 583,701	$ 605,062	$ 560,954
Transferred over Time [Member]
Disaggregation of Revenue [Line Items]
Revenue, Net, Percent									49.00%	46.00%
Transferred at Point in Time [Member]
Disaggregation of Revenue [Line Items]
Revenue, Net, Percent									51.00%	54.00%

REVENUE ADDTIONAL DETAILS (Details) - USD ($)	12 Months Ended
REVENUE ADDTIONAL DETAILS (Details) - USD ($)	Dec. 31, 2019	Dec. 31, 2018
Revenue from Contract with Customer [Abstract]
Revenue, Remaining Performance Obligation, Amount	$ 2,200,000,000
Revenue, Remaining Performance Obligation, Percentage	92.00%
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Explanation	12-36 months
Contract with Customer, Liability, Revenue Recognized	$ 198,000,000	$ 164,000,000

ACQUISITIONS (Detail) - USD ($) $ in Thousands	12 Months Ended
ACQUISITIONS (Detail) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Business Acquisition [Line Items]
Payments to Acquire Businesses, Gross	$ 185,209	$ 210,167	$ 232,630
Goodwill	1,166,680	1,088,032	$ 1,096,329
2019 acquisitions [Member]
Business Acquisition [Line Items]
Accounts receivable	16,551
Inventory	7,608
Property, plant, and equipment	1,117
Intangible assets	94,400
Operating lease right of-use assets	4,605
Other Current and Non-current Assets	888
Current and non-current liabilities	(11,604)
Assets Acquired and Liabilities Assumed, Net	113,565
Payments to Acquire Businesses, Net of Cash Acquired	185,209
Goodwill	71,644
Business Acquisition, Goodwill, Expected Tax Deductible Amount	$ 72,777
2018 acquisitions [Member]
Business Acquisition [Line Items]
Accounts receivable		24,385
Inventory		31,875
Property, plant, and equipment		3,206
Intangible assets		146,100
Other Current and Non-current Assets		47
Current and non-current liabilities		(5,374)
Assets Acquired and Liabilities Assumed, Net		200,239
Payments to Acquire Businesses, Gross		210,167
Goodwill		9,928
Business Acquisition, Goodwill, Expected Tax Deductible Amount		$ 9,928

ACQUISITIONS (Narrative) (Detail) $ in Thousands				12 Months Ended
ACQUISITIONS (Narrative) (Detail) $ in Thousands	Dec. 31, 2019	Mar. 15, 2019	Apr. 02, 2018	Dec. 31, 2019 USD ($) NumberAcquisitions	Dec. 31, 2018 USD ($) NumberAcquisitions	Dec. 31, 2017 USD ($)
Business Acquisition [Line Items]
Number of Businesses Acquired \| NumberAcquisitions				2	1
Business Combination, Pro Forma Information, Revenue of Acquiree since Acquisition Date, Actual				$ 11,000	$ 64,000
Business Combination, Pro Forma Information, Earnings or Loss of Acquiree since Acquisition Date, Actual				0	1,000
Payments to Acquire Businesses, Gross				185,209	210,167	$ 232,630
901D Holdings, LLC (901D) [Member] \| Defense
Business Acquisition [Line Items]
Effective date of acquisition	Dec. 31, 2019
Payments to Acquire Businesses, Net of Cash Acquired				135,100
Tactical Communications Group (TCG) [Member] \| Defense
Business Acquisition [Line Items]
Effective date of acquisition		Mar. 15, 2019
Payments to Acquire Businesses, Net of Cash Acquired				$ 50,100
Dresser-Rand Government Business (DRG) [Member] \| Power
Business Acquisition [Line Items]
Effective date of acquisition			Apr. 02, 2018
Payments to Acquire Businesses, Gross					$ 210,200

RECEIVABLES (Detail) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Contracts Receivable [Abstract]
Trade and other receivables	$ 418,968	$ 390,306
Less: Allowance for doubtful accounts	(8,733)	(7,436)
Net billed receivables	410,235	382,870
Unbilled receivables:
Recoverable costs and estimated earnings not billed	231,067	225,810
Less: Progress payments applied	(9,108)	(14,925)
Net unbilled receivables	221,959	210,885
Receivables, net	$ 632,194	$ 593,755

RECEIVABLES (Narrative) (Detail) - USD ($) $ in Thousands	12 Months Ended
RECEIVABLES (Narrative) (Detail) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
ConcentrationRiskLineItems
Net unbilled receivables	$ 221,959	$ 210,885
GovernmentContractsConcentrationRiskMember
ConcentrationRiskLineItems
ConcentrationRiskPercentage	43.00%	40.00%
Accounts Receivable, before Allowance for Credit Loss	$ 343,500	$ 329,100
Net unbilled receivables	$ 195,700	$ 180,000

INVENTORIES (Detail) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Inventory, Net [Abstract]
Raw material	$ 183,576	$ 214,442
Work-in-process	105,874	74,536
Finished goods and component parts	131,124	143,016
Inventory costs related to U.S. Government and other long-term contracts	70,998	54,195
Gross inventories	491,572	486,189
Less: Inventory reserves	(58,594)	(55,776)
Progress payments applied, principally related to long-term contracts	(8,143)	(6,987)
Inventories, net	$ 424,835	$ 423,426

INVENTORIES (Narrative) (Detail) - USD ($) $ in Millions	Dec. 31, 2019	Dec. 31, 2018
Inventory, Net [Abstract]
Other Inventory, Capitalized Costs	$ 39.1	$ 44.4
Other Inventory Capitalized Costs To Be Liquidated Under Firm Orders	$ 23.7	$ 24.1

PROPERTY, PLANT, AND EQUIPMENT (Detail) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Property, Plant and Equipment [Line Items]
land	$ 18,632	$ 18,548
BuildingsAndImprovementsGross	234,112	226,743
MachineryAndEquipmentGross	849,527	801,169
Property, Plant and Equipment, Gross, Total	1,102,271	1,046,460
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment	(716,678)	(671,800)
Property, plant, and equipment, net	$ 385,593	$ 374,660	$ 390,235

PROPERTY, PLANT, AND EQUIPMENT (Narrative) (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Property, Plant and Equipment [Abstract]
Depreciation	$ 57.4	$ 59.4	$ 61.6

GOODWILL (Detail) - USD ($) $ in Thousands	12 Months Ended
GOODWILL (Detail) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Goodwill [Line Items]
Goodwill	$ 1,088,032	$ 1,096,329
Acquisitions	71,644	9,928
Divestitures		(1,705)
Adjustments	208
Foreign Currency Translation Adjustments	7,212	(16,520)
Goodwill	1,166,680	1,088,032
Commercial/Industrial
Goodwill [Line Items]
Goodwill	442,015	448,531
Divestitures		(111)
Foreign Currency Translation Adjustments	2,099	(6,405)
Goodwill	444,114	442,015
Defense
Goodwill [Line Items]
Goodwill	448,871	460,332
Acquisitions	71,644
Divestitures		(1,594)
Adjustments	208
Foreign Currency Translation Adjustments	4,962	(9,867)
Goodwill	525,269	448,871
Power
Goodwill [Line Items]
Goodwill	197,146	187,466
Acquisitions		9,928
Foreign Currency Translation Adjustments	151	(248)
Goodwill	$ 197,297	$ 197,146

OTHER INTANGIBLE ASSETS, NET (Detail) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Finite-Lived Intangible Assets [Line Items]
Finite Lived Intangible Assets Gross	$ 879,897	$ 781,384
Finite Lived Intangible Assets Accumulated Amortization	(399,990)	(351,817)
Other intangible assets, net	479,907	429,567
Technology [Member]
Finite-Lived Intangible Assets [Line Items]
Finite Lived Intangible Assets Gross	257,676	238,212
Finite Lived Intangible Assets Accumulated Amortization	(140,390)	(123,156)
Other intangible assets, net	117,286	115,056
Customer Relationships [Member]
Finite-Lived Intangible Assets [Line Items]
Finite Lived Intangible Assets Gross	434,492	358,832
Finite Lived Intangible Assets Accumulated Amortization	(215,855)	(193,455)
Other intangible assets, net	218,637	165,377
Contract and Program Intangible Assets [Member]
Finite-Lived Intangible Assets [Line Items]
Finite Lived Intangible Assets Gross	144,000	144,000
Finite Lived Intangible Assets Accumulated Amortization	(12,600)	(5,400)
Other intangible assets, net	131,400	138,600
Other Intangible Assets [Member]
Finite-Lived Intangible Assets [Line Items]
Finite Lived Intangible Assets Gross	43,729	40,340
Finite Lived Intangible Assets Accumulated Amortization	(31,145)	(29,806)
Other intangible assets, net	$ 12,584	$ 10,534

OTHER INTANGIBLE ASSETS, NET (Amort) (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Finite-Lived Intangible Assets [Line Items]
Amortization of Intangible Assets	$ 45,000	$ 43,600	$ 38,400
Future Amortization Expense Year One	55,360
Future Amortization Expense Year Two	45,692
Future Amortization Expense Year Three	43,149
Future Amortization Expense Year Four	39,398
Future Amortization Expense Year Five	$ 36,010

OTHER INTANGIBLE ASSETS, NET OTHER INTANGIBLE ASSETS, NET (Narrative) (Detail) $ in Millions	12 Months Ended
	Dec. 31, 2019 USD ($)
Finite-Lived Intangible Assets [Line Items]
Finite-lived Intangible Assets Acquired	$ 94.4
Minimum
Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Asset, Useful Life	1 year
Maximum
Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Asset, Useful Life	20 years
Technology [Member]
Finite-Lived Intangible Assets [Line Items]
Finite-lived Intangible Assets Acquired	$ 17.7
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life	15 years
Customer Relationships [Member]
Finite-Lived Intangible Assets [Line Items]
Finite-lived Intangible Assets Acquired	$ 73.3
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life	14 years 1 month 6 days
Other Intangible Assets [Member]
Finite-Lived Intangible Assets [Line Items]
Finite-lived Intangible Assets Acquired	$ 3.4
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life	8 years

LEASES - Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
LEASES - Narrative (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Operating Leased Assets [Line Items]
Operating Rental expense	$ 37,229	$ 38,400	$ 37,100
Minimum
Operating Leased Assets [Line Items]
Lessee, Operating Lease, Term of Contract	1 year
Maximum
Operating Leased Assets [Line Items]
Lessee, Operating Lease, Term of Contract	25 years

LEASES - Schedule of Lease Expenses (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Leases [Abstract]
Operating Rental expense	$ 37,229	$ 38,400	$ 37,100
Depreciation of finance leases	812
Interest on lease liabilities	498
Total finance lease cost	$ 1,310

LEASES - Supplemental Cash Flows (Details) $ in Thousands	12 Months Ended
LEASES - Supplemental Cash Flows (Details) $ in Thousands	Dec. 31, 2019 USD ($)
Leases [Abstract]
Operating cash flows used for operating leases	$ 30,665
Operating cash flows used for finance leases	498
Right-of-use assets obtained in exchange for operating lease obligations	$ 36,033

LEASES - Supplemental Balance Sheet (Details) - USD ($)	Dec. 31, 2019	Dec. 31, 2018
Leases [Abstract]
Operating lease right-of-use assets, net	$ 165,490,000	$ 0
Current operating lease liabilities	26,773,000
Operating lease, Long-term operating lease liability	145,124,000	$ 0
Total operating lease liabilities	171,897,000
Property, plant, and equipment	15,561,000
Accumulated depreciation	5,533,000
Property, plant, and equipment, net	10,028,000
Finance lease, Other current liabilities	807,000
Finance lease, Other liabilities	10,982,000
Total finance lease liabilities	$ 11,789,000
Weighted average remaining lease term, Operating lease	9 years 2 months 12 days
Weighted average remaining lease term, Finance leases	9 years 8 months 12 days
Weighted average discount rate, Operating leases	3.75%
Weighted average discount rate, Finance leases	4.05%

LEASES - Schedule of Maturities (Details) $ in Thousands	Dec. 31, 2019 USD ($)
Operating Lease [Abstract]
2020	$ 32,528
2021	29,729
2022	23,432
2023	21,168
2024	18,640
Thereafter	79,982
Total operating lease payments	205,479
Less: imputed interest	33,582
Total operating lease liabilities	171,897
Finance Lease [Abstract]
2020	1,342
2021	1,375
2022	1,410
2023	1,445
2024	1,481
Thereafter	7,411
Total finance lease payments	14,464
Less: imputed interest	2,675
Total finance lease liabilities	$ 11,789

LEASES - Future Minimum Rental Commitments (Details) $ in Thousands	Dec. 31, 2018 USD ($)
Leases [Abstract]
2019	$ 29,562
2020	28,514
2021	24,501
2022	19,996
2023	19,778
Thereafter	93,974
Total	$ 216,325

FAIR VALUE OF FINANCIAL INSTRUMENTS (Income Loss) (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
General and Administrative Expense [Member]
Derivative Instruments Gain Loss [Line Items]
Gain (Loss) on Foreign Currency Derivative Instruments Not Designated as Hedging Instruments	$ (2,072)	$ 6,643	$ (346)

FAIR VALUE OF FINANCIAL INSTRUMENTS (Debt Narrative) (Detail) - USD ($) $ in Millions	Dec. 31, 2019	Dec. 31, 2018
Estimated Fair Value
Debt Instrument [Line Items]
Long-term Debt, Percentage Bearing Fixed Interest, Amount	$ 783	$ 750
Carrying Value
Debt Instrument [Line Items]
Long-term Debt, Percentage Bearing Fixed Interest, Amount	$ 749	$ 749

ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES (Accrued Expenses) (Detail) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Accrued Liabilities, Current [Abstract]
Accrued compensation	$ 119,293	$ 118,479
Accrued commissions	6,678	7,769
Accrued interest	8,982	8,944
Accrued insurance	7,550	6,951
Accrued other liabilities	22,241	24,811
Accrued expenses	$ 164,744	$ 166,954

ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES (Other Current Liabilities) (Detail) - USD ($)	Dec. 31, 2019	Dec. 31, 2018
Accrued Liabilities, Current [Abstract]
Current operating lease liabilities	$ 26,773,000
Warranty	17,512,000	$ 17,293,000
Pension and other postretirement liabilities	6,690,000	6,528,000
Other sundry liabilities	23,227,000	21,008,000
Other current liabilities	$ 74,202,000	$ 44,829,000

INCOME TAXES INCOME TAXES (Tax Cuts and Jobs Act) (Detail) $ in Thousands	12 Months Ended
	Dec. 31, 2019 USD ($)	Dec. 31, 2018 USD ($)	Dec. 31, 2017 USD ($) numberOfTransitionTaxYears
Income Tax Disclosure [Abstract]
Provision for income taxes			$ 13,400
Transition tax on foreign earnings			18,200
Finalized transition tax due to TCJA			$ 23,600
Period of finalized transition tax \| numberOfTransitionTaxYears			8
Amount of taxes paid due to TCJA		$ 1,900
Operating loss carryforwards		12,700
Transition tax liability due to operating loss carryforward	$ 9,000	9,000
Provisional undistributed income tax expense			$ 3,800
Additional tax expense on foreign withholding taxes	$ 4,400	9,300
Additional tax expense For foreign withholding taxes, prior period		$ 6,500
2018 U.S. Federal Statutory Tax Rate		21.00%
2017 U.S. Federal Statutory Tax Rate			35.00%

INCOME TAXES (Income Before Income Tax) (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Income Tax Disclosure [Abstract]
Domestic	$ 273,036	$ 217,374	$ 179,006
Foreign	123,426	138,865	120,613
Earnings before income taxes	$ 396,462	$ 356,239	$ 299,619

INCOME TAXES (Provision for Income Taxes) (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Income Tax Disclosure [Abstract]
Federal	$ 14,195	$ 37,648	$ 54,963
State	3,766	9,228	2,648
Foreign	24,816	25,285	23,162
Current Income Tax Expense (Benefit), Total	42,777	72,161	80,773
Federal	38,647	8,518	2,595
State	6,632	(1,047)	4,282
Foreign	823	858	(2,922)
Deferred Income Tax Expense (Benefit), Total	46,102	8,329	3,955
Provision for income taxes	$ 88,879	$ 80,490	$ 84,728

INCOME TAXES (Effective Income Tax Rate Reconciliation) (Detail)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Income Tax Disclosure [Abstract]
U.S. federal statutory tax rate	21.00%	21.00%	35.00%
State and local taxes, net of federal benefit	2.40%	2.20%	1.80%
R&D tax credits	(1.20%)	(1.00%)	(1.30%)
Foreign rate differential	1.40%	0.90%	(6.00%)
Stock compensation - excess tax benefits	(0.80%)	(1.30%)	(2.60%)
Tax Cuts and Jobs Act		0.018	0.034
Foreign-derived intangible income	(1.30%)	(0.80%)
All other, net	0.90%	(0.20%)	(2.00%)
Effective tax rate	22.40%	22.60%	28.30%

INCOME TAXES (Deferred Tax Assets and Liabilties) (Detail) - USD ($)	Dec. 31, 2019	Dec. 31, 2018
Deferred tax assets:
Operating lease liabilities	$ 35,299,000
Inventories, net	15,220,000	$ 14,154,000
Net operating loss	8,328,000	9,868,000
Environmental reserves	8,239,000	8,613,000
Incentive compensation	8,130,000	8,472,000
Pension and other postretirement liabilities	5,029,000	35,656,000
Capital loss carryover	955,000	6,972,000
Other	33,002,000	27,795,000
Total deferred tax assets	114,202,000	111,530,000
Deferred tax liabilities:
Goodwill	77,620,000	70,850,000
Operating lease right-of-use assets, net	33,915,000
Intangible Assets	30,954,000	33,600,000
Depreciation	25,562,000	24,983,000
Withholding Taxes	13,097,000	10,300,000
Other	7,524,000	5,345,000
Total deferred tax liabilities	188,672,000	145,078,000
Valuation allowance	3,386,000	11,646,000
Deferred Tax Liabilities, Net	$ 77,856,000	$ 45,194,000

INCOME TAXES (Net Deferred Tax Assets and Liabilities) (Detail) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Income Tax Disclosure [Abstract]
Net noncurrent deferred tax assets	$ 2,303	$ 1,927
Net noncurrent deferred tax liabilities	80,159	47,121
Deferred Tax Liabilities, Net	$ 77,856	$ 45,194

INCOME TAXES (Unrecognized Tax Benefits) (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]
Unrecognized tax benefits (beginning balance)	$ 13,563	$ 13,174	$ 11,454
Additions for tax positions of prior periods	581	88	1,069
Unrecognized Tax Benefits, Decrease Resulting from Prior Period Tax Positions	(2,184)	(290)	(194)
Additions for tax positions related to the current year	936	1,036	1,273
Settlements	(220)	(445)	(428)
Unrecognized tax benefits (ending balance)	$ 12,676	$ 13,563	$ 13,174

INCOME TAXES (Open Tax Years) (Detail)	12 Months Ended
INCOME TAXES (Open Tax Years) (Detail)	Dec. 31, 2019
United States (Various states)
IncomeTaxContingencyLineItems
Open Tax Year	2008
Internal Revenue Service (IRS) \| United States (Federal)
IncomeTaxContingencyLineItems
Open Tax Year	2016
United Kingdom \| Foreign Tax Authority
IncomeTaxContingencyLineItems
Open Tax Year	2012
Canada \| Foreign Tax Authority
IncomeTaxContingencyLineItems
Open Tax Year	2013

INCOME TAXES (Narrative) (Detail) - USD ($) $ in Thousands	12 Months Ended
INCOME TAXES (Narrative) (Detail) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
OperatingLossCarryforwardsLineItems
Operating loss carryforward	$ 9,300
Valuation allowance increase	(8,300)
Valuation allowance	3,386	$ 11,646
Income tax payments	63,900	79,100	$ 92,100
Unrecognized tax benefits that would affect the effective income tax rate	10,200	$ 11,000	$ 10,100
Foreign Tax Authority
OperatingLossCarryforwardsLineItems
Operating loss carryforwards related to international operations	15,400
Indefinite lived operating loss carryforwards,	13,000
Operating loss carryforwards subject to expiration	$ 2,400
Operating loss carryforward, expiration date	Dec. 31, 2026
State And Local Jurisdiction [Member]
OperatingLossCarryforwardsLineItems
Operating loss carryforwards state and local	$ 67,300
Operating loss carryforwards subject to expiration	$ 63,400
Operating loss carryforward, expiration date	Dec. 31, 2038
Capital Loss Carryforward [Member]
OperatingLossCarryforwardsLineItems
Tax Credit Carryforward, Amount	$ 3,900
Capital loss carryforwards expiration date	Dec. 31, 2020
Other Liabilities [Member]
OperatingLossCarryforwardsLineItems
Interest on income taxes accrued	$ 3,300
Income tax penalties accrued	$ 1,600

DEBT (Detail) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Debt Instrument [Line Items]
Long-term Debt	$ 760,639	$ 762,556
Long Term Debt Fair Value	794,431	763,316
Long-term Debt, Gross	750,000	750,243
Debt issuance costs, net	(594)	(714)
Unamortized interest rate swap proceeds (1)	11,233	13,027
Less: current portion of long-term debt and short-term debt	0	243
Total long-term debt	760,639	762,313
Long-term Debt, gross [Member]
Debt Instrument [Line Items]
Long Term Debt Fair Value	783,792	751,003
Carrying Value
Debt Instrument [Line Items]
Less: current portion of long-term debt and short-term debt	0	243
Total long-term debt	760,639	762,313
Carrying Value \| 3.84% Senior notes due 2021
Debt Instrument [Line Items]
Long-term Debt	100,000	100,000
Carrying Value \| 3.70% Senior notes due 2023
Debt Instrument [Line Items]
Long-term Debt	202,500	202,500
Carrying Value \| 3.85% Senior notes due 2025
Debt Instrument [Line Items]
Long-term Debt	90,000	90,000
Carrying Value \| 4.24% Senior notes due 2026
Debt Instrument [Line Items]
Long-term Debt	200,000	200,000
Carrying Value \| 4.05% Senior notes due 2028
Debt Instrument [Line Items]
Long-term Debt	67,500	67,500
Carrying Value \| 4.11% Senior notes due 2028
Debt Instrument [Line Items]
Long-term Debt	90,000	90,000
Carrying Value \| Other debt
Debt Instrument [Line Items]
Long-term Debt	0	243
Estimated Fair Value
Debt Instrument [Line Items]
Less: current portion of long-term debt and short-term debt	0	243
Total long-term debt	794,431	763,073
Estimated Fair Value \| 3.84% Senior notes due 2021
Debt Instrument [Line Items]
Long Term Debt Fair Value	102,079	100,359
Estimated Fair Value \| 3.70% Senior notes due 2023
Debt Instrument [Line Items]
Long Term Debt Fair Value	207,882	201,813
Estimated Fair Value \| 3.85% Senior notes due 2025
Debt Instrument [Line Items]
Long Term Debt Fair Value	93,838	89,711
Estimated Fair Value \| 4.24% Senior notes due 2026
Debt Instrument [Line Items]
Long Term Debt Fair Value	213,126	202,288
Estimated Fair Value \| 4.05% Senior notes due 2028
Debt Instrument [Line Items]
Long Term Debt Fair Value	71,260	66,942
Estimated Fair Value \| 4.11% Senior notes due 2028
Debt Instrument [Line Items]
Long Term Debt Fair Value	95,607	89,647
Estimated Fair Value \| Other debt
Debt Instrument [Line Items]
Long Term Debt Fair Value	$ 0	$ 243

DEBT (Maturity) (Detail) $ in Thousands	Dec. 31, 2019 USD ($)
Debt Instruments [Abstract]
Repayments of Principal in Next Twelve Months	$ 0
Repayments of Principal in Year Two	100,000
Repayments of Principal in Year Three	0
Repayments of Principal in Year Four	202,500
Repayments of Principal in Year Five	0
Repayments of Principal Thereafter	447,500
Total	$ 750,000

DEBT (Narrative) (Detail) - USD ($) $ in Thousands	12 Months Ended
DEBT (Narrative) (Detail) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017	Oct. 31, 2018	Sep. 26, 2013	Feb. 26, 2013	Dec. 08, 2011
Debt Instrument [Line Items]
Interest payments made	$ 30,000	$ 32,000	$ 39,000
Interest rate description	Borrowings under the credit agreement accrue interest based on (i) Libor or (ii) a base rate of the highest of (a) the federal funds rate plus 0.5%, (b) BofA’s announced prime rate, or (c) the Eurocurrency rate plus 1%, plus a margin. The interest rate and level of facility fees are dependent on certain financial ratios, as defined in the Credit Agreement. The Credit Agreement also provides customary fees, including administrative agent and commitment fees. In connection with the Credit Agreement, the Corporation paid customary transaction fees that have been deferred and are being amortized over the term of the Credit Agreement.
Repayments of Long-term Debt	$ 0	50,000	$ 150,000
Debt to capitalization limit	60.00%
2013 Senior Notes
Debt Instrument [Line Items]
Date of issuance	Feb. 26, 2013
Issued amount of debt						$ 500,000
Repayments of Long-term Debt		50,000
3.70% Senior notes due 2023
Debt Instrument [Line Items]
Issued amount of debt						$ 225,000
Date of maturity	Feb. 26, 2023
Stated interest rate						3.70%
3.85% Senior notes due 2025
Debt Instrument [Line Items]
Issued amount of debt						$ 100,000
Date of maturity	Feb. 26, 2025
Stated interest rate						3.85%
4.05% Senior notes due 2028
Debt Instrument [Line Items]
Issued amount of debt						$ 75,000
Date of maturity	Feb. 26, 2028
Stated interest rate						4.05%
4.11% Senior notes due 2028
Debt Instrument [Line Items]
Date of issuance	Sep. 26, 2013
Issued amount of debt					$ 100,000
Date of maturity	Sep. 26, 2028
Stated interest rate					4.11%
2011 Notes
Debt Instrument [Line Items]
Date of issuance	Dec. 08, 2011
Issued amount of debt							$ 300,000
3.84% Senior notes due 2021
Debt Instrument [Line Items]
Issued amount of debt							$ 100,000
Date of maturity	Dec. 01, 2021
Stated interest rate							3.84%
4.24% Senior notes due 2026
Debt Instrument [Line Items]
Issued amount of debt							$ 200,000
Date of maturity	Dec. 01, 2026
Stated interest rate							4.24%
Revolving credit facility
Debt Instrument [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity	$ 500,000
Line Of Credit Facility Additional Borrowing Capacity		200,000		$ 100,000
Standby letters of credit
Debt Instrument [Line Items]
Letters of credit	$ 32,600	$ 21,700
Revolving credit facility
Debt Instrument [Line Items]
Weighted-average interest rate	3.30%	3.20%
Unused credit available under the credit facility	$ 467,000
Long-term debt
Debt Instrument [Line Items]
Weighted-average interest rate	3.70%	3.70%
Unused credit available under the credit facility	$ 1,800,000

EARNINGS PER SHARE (Detail) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Earnings Per Share Reconciliation [Abstract]
Basic									42,739	43,892	44,182
Dilutive effect of stock options and deferred stock compensation									277	424	579
Diluted									43,016	44,316	44,761
Net earnings	$ 89,408	$ 82,510	$ 80,072	$ 55,593	$ 82,835	$ 74,483	$ 74,788	$ 43,643	$ 307,583	$ 275,749	$ 214,891
Diluted earnings per share	$ 2.08	$ 1.92	$ 1.86	$ 1.29	$ 1.89	$ 1.68	$ 1.68	$ 0.98	$ 7.15	$ 6.22	$ 4.80
Basic earnings per share	$ 2.09	$ 1.93	$ 1.87	$ 1.30	$ 1.91	$ 1.70	$ 1.69	$ 0.99	$ 7.20	$ 6.28	$ 4.86

- Definition

The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.

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+ Details

- Definition

The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period.

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+ Details

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References + Details

EARNINGS PER SHARE (AntiDilutive) (Detail) - shares	12 Months Ended
EARNINGS PER SHARE (AntiDilutive) (Detail) - shares	Dec. 31, 2019	Dec. 31, 2018
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount	0	0

SHARE-BASED COMPENSATION PLANS (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Share-based Payment Arrangement, Noncash Expense [Abstract]
Employee Stock Purchase Plan	$ 1,585	$ 1,435	$ 1,207
Performance Share Units	4,853	4,746	4,340
Restricted Share Units	6,061	7,026	4,931
Other share-based payments	1,170	887	1,094
Total share-based compensation expense before income taxes	$ 13,669	$ 14,094	$ 11,572

SHARE-BASED COMPENSATION PLANS (Cash Proceeds and Tax Benefit) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Share-based Payment Arrangement, Noncash Expense [Abstract]
Cash received from share-based awards	$ 11,770	$ 11,940	$ 14,179

SHARE-BASED COMPENSATION PLANS (LTI) (Detail) $ / shares in Units, shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2019 USD ($) $ / shares shares
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward]
Outstanding (in shares) \| shares	158
Exercised (in shares) \| shares	(91)
Forfeited (in shares) \| shares	(1)
Outstanding (in shares) \| shares	66
Exercisable (in shares) \| shares	66
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price [Abstract]
Outstanding (in dollars per share) \| $ / shares	$ 30.34
Exercised (in dollars per share) \| $ / shares	30.64
Forfeited (in dollars per shares) \| $ / shares	30.90
Outstanding (in dollars per share) \| $ / shares	29.93
Exercisable (in dollars per share) \| $ / shares	$ 29.93
Outstanding, weighted-average remaining contractual term in years	10 months 24 days
Exercisable. weighted-average remaining contractual term in years	10 months 24 days
Outstanding, aggregate intrinsic value \| $	$ 7,396
Exercisable, aggregate intrinsic value \| $	$ 7,396

SHARE-BASED COMPENSATION PLANS (Restricted Units) (Detail) shares in Thousands	12 Months Ended
	Dec. 31, 2019 $ / shares shares
Performance Shares [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Outstanding (in shares) \| shares	117
Granted (in shares) \| shares	50
Vested (in shares) \| shares	(68)
Forfeited (in shares) \| shares	(2)
Outstanding (in shares) \| shares	97
Expected to vest (in shares) \| shares	97
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Abstract]
Outstanding (in dollars per share) \| $ / shares	$ 101.70
Granted (in dollars per share) \| $ / shares	121.15
Vested (in dollars per share) \| $ / shares	86.43
Forfeited (in dollars per share) \| $ / shares	155.91
Outstanding (in dollars per share) \| $ / shares	149.99
Expected to vest (in dollars per share) \| $ / shares	$ 149.99
Restricted Stock Units (RSUs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Outstanding (in shares) \| shares	137
Granted (in shares) \| shares	76
Vested (in shares) \| shares	(58)
Forfeited (in shares) \| shares	(6)
Outstanding (in shares) \| shares	149
Expected to vest (in shares) \| shares	149
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Abstract]
Outstanding (in dollars per share) \| $ / shares	$ 54.66
Granted (in dollars per share) \| $ / shares	114.98
Vested (in dollars per share) \| $ / shares	98.61
Forfeited (in dollars per share) \| $ / shares	117.48
Outstanding (in dollars per share) \| $ / shares	105.42
Expected to vest (in dollars per share) \| $ / shares	$ 105.42

SHARE-BASED COMPENSATION PLANS (Narrative) (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock authorized	100,000,000	100,000,000
2014 Omnibus Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock authorized	2,400,000
Non Qualfied Stock Options [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total intrinsic value of stock options exercised	$ 8.7	$ 10.1	$ 12.7
Performance Shares [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Aggregate Intrinsic Value, Outstanding	13.7
Unrecognized compensation cost	$ 4.8
Unrecognized compensation expense, period of recognition	1 year 7 months 6 days
Restricted Stock Units (RSUs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Requisite service period	3 years
Aggregate Intrinsic Value, Outstanding	$ 20.9
Unrecognized compensation cost	$ 8.7
Unrecognized compensation expense, period of recognition	2 years 3 months 18 days
Employee Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Purchase price percentage of fair market value	85.00%

PENSION AND POSTRETIREMENT BENEFITS (Narrative) (Detail) $ in Thousands		12 Months Ended
	Jan. 08, 2020 USD ($)	Dec. 31, 2019 USD ($) pension_plan	Dec. 31, 2018 USD ($)	Dec. 31, 2017 USD ($)
Defined Benefit Plan Disclosure [Line Items]
Number of pension and other post retirement defined benefit plans \| pension_plan		10
Domestic plans \| pension_plan		3
Foreign plans \| pension_plan		7
United States [Member]
Defined Benefit Plan Disclosure [Line Items]
Funded percentage		88.00%
Pension Plan [Member]
Defined Benefit Plan Disclosure [Line Items]
Contributions made by employer		$ 3,867	$ 55,311
Total projected benefit obligation		$ 945,187	$ 814,894	$ 868,887
Expected return on assets assumption		7.59%	7.47%
Pension Plan [Member] \| Subsequent Event [Member]
Defined Benefit Plan Disclosure [Line Items]
Contributions made by employer	$ 150,000
Pension Plan [Member] \| Foreign Plan [Member]
Defined Benefit Plan Disclosure [Line Items]
Plan assets as a percentage of consolidated assets		12.00%
Expected return on assets assumption		4.30%
Pension Plan [Member] \| United Kingdom [Member]
Defined Benefit Plan Disclosure [Line Items]
Number of pension and other post retirement defined benefit plans \| pension_plan		1
Pension Plan [Member] \| Canada [Member]
Defined Benefit Plan Disclosure [Line Items]
Number of pension and other post retirement defined benefit plans \| pension_plan		1
Pension Plan [Member] \| Switzerland [Member]
Defined Benefit Plan Disclosure [Line Items]
Number of pension and other post retirement defined benefit plans \| pension_plan		1
Pension Plan [Member] \| Germany [Member]
Defined Benefit Plan Disclosure [Line Items]
Number of pension and other post retirement defined benefit plans \| pension_plan		2
Pension Plan [Member] \| Mexico [Member]
Defined Benefit Plan Disclosure [Line Items]
Number of pension and other post retirement defined benefit plans \| pension_plan		2
Pension Plan [Member] \| United States [Member] \| Cash And Cash Equivalents [Member]
Defined Benefit Plan Disclosure [Line Items]
Plan assets as a percentage of consolidated assets		3.00%	6.00%
Other Pension Plan [Member] \| Switzerland [Member]
Defined Benefit Plan Disclosure [Line Items]
Number of pension and other post retirement defined benefit plans \| pension_plan		1
EMD [Member]
Defined Benefit Plan Disclosure [Line Items]
Percent of employees' gross pay withheld		1.50%
Parent Company's Retirement Benefit Plan [Member]
Defined Benefit Plan Disclosure [Line Items]
Number of years of service		1 year
Vesting period		3 years
Period after which accruals will cease		15 years
Parent Company's Retirement Benefit Plan [Member] \| United States [Member]
Defined Benefit Plan Disclosure [Line Items]
Expected employer contributions		$ 1,500
Net pension liability		23,600	$ 22,000
Parent Company's Retirement Benefit Plan [Member] \| Other Pension, Postretirement and Supplemental Plans [Member] \| Foreign Plan [Member]
Defined Benefit Plan Disclosure [Line Items]
Pension Cost (Reversal of Cost)		5,300	5,300	$ 4,200
Parent Company's Retirement Benefit Plan [Member] \| Other Pension, Postretirement and Supplemental Plans [Member] \| United States [Member]
Defined Benefit Plan Disclosure [Line Items]
Expense relating to the defined contribution plan		17,800
Defined Contribution Plan, Employer Discretionary Contribution Amount		9,100
Defined Contribution Plans, Non-Elective Estimated Future Employer Contributions in Next Fiscal Year		8,700
Defined Contribution Plans, Estimated Future Employer Contributions in Next Fiscal Year		$ 97,000
Parent Company's Retirement Benefit Plan [Member] \| Other Pension, Postretirement and Supplemental Plans [Member] \| United States [Member] \| Maximum
Defined Benefit Plan Disclosure [Line Items]
Maximum employer contribution match percentage		7.00%
Parent Company's Retirement Benefit Plan [Member] \| Pension Plan [Member] \| United States [Member]
Defined Benefit Plan Disclosure [Line Items]
Noncurrent pension liability		$ 50,200	26,600
Parent Company's Retirement Benefit Plan [Member] \| Other Pension Plan [Member] \| United States [Member]
Defined Benefit Plan Disclosure [Line Items]
Expected employer contributions			4,800
Noncurrent pension liability		59,600	52,800
Foreign Company's Retirement Benefit Plan [Member] \| Foreign Plan [Member]
Defined Benefit Plan Disclosure [Line Items]
Expected employer contributions		2,300
Total projected benefit obligation		102,700	$ 83,500
Net pension liability		200
Net pension assets		$ 2,700

PENSION PLANS (Detail) - USD ($) $ in Thousands	12 Months Ended
PENSION PLANS (Detail) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Pension Plan [Member]
Defined Benefit Plan Disclosure [Line Items]
Service cost	$ 23,664	$ 27,116	$ 25,093
Interest cost	29,019	26,149	25,895
Expected return on plan assets	(59,153)	(58,641)	(53,552)
Prior service cost	(283)	(252)	(100)
Recognized net actuarial loss	9,310	16,867	12,925
Curtailment charge	0	337	327
Defined Benefit Plan, Net Periodic Benefit Cost (Credit)	2,557	11,576	10,588
Other Postretirement Benefits Plan [Member]
Defined Benefit Plan Disclosure [Line Items]
Service cost	432	490	435
Interest cost	796	719	762
Prior service cost	(656)	(656)	(656)
Recognized net actuarial loss	(198)	(131)	(223)
Defined Benefit Plan, Net Periodic Benefit Cost (Credit)	$ 374	$ 422	$ 318

PENSION AND OTHER POSTRETIREMENT BENEFIT PLANS (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
DefinedBenefitPlanChangeInBenefitObligationRollForward
Defined Benefit Plan, Benefit Obligation, (Increase) Decrease for Settlement	$ 0	$ (2,228)
Pension Plan [Member]
DefinedBenefitPlanChangeInBenefitObligationRollForward
Defined Benefit Plan, Benefit Obligation, Beginning Balance	814,894	868,887
Service cost	23,664	27,116	$ 25,093
Interest cost	29,019	26,149	25,895
DefinedBenefitPlanContributionsByPlanParticipants	1,276	1,402
DefinedBenefitPlanActuarialGainLoss	(118,893)	58,913
DefinedBenefitPlanBenefitsPaid	(43,736)	(41,962)
Defined Benefit Plan, Actual Expense	(1,846)	(1,371)
DefinedBenefitPlanForeignCurrencyExchangeRateChangesBenefitObligation	3,023	(4,186)
Defined Benefit Plan, Benefit Obligation, Ending Balance	945,187	814,894	868,887
Other Postretirement Benefits Plan [Member]
DefinedBenefitPlanChangeInBenefitObligationRollForward
Defined Benefit Plan, Benefit Obligation, Beginning Balance	22,060	25,035
Service cost	432	490	435
Interest cost	796	719	762
DefinedBenefitPlanContributionsByPlanParticipants	346	319
DefinedBenefitPlanActuarialGainLoss	(2,124)	1,982
DefinedBenefitPlanBenefitsPaid	(2,192)	(2,521)
Defined Benefit Plan, Benefit Obligation, Ending Balance	$ 23,566	$ 22,060	$ 25,035

PENSION AND OTHER POSTRETIREMENT BENEFIT PLANS (Plan Asset) (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
DefinedBenefitPlanChangeInFairValueOfPlanAssetsRollForward
Defined Benefit Plan, Plan Assets, Amount, Beginning Balance	$ 738,296
Defined Benefit Plan, Fair Value of Plan Assets, Ending Balance	835,139	$ 738,296
DefinedBenefitPlanAmountsRecognizedInBalanceSheetAbstract
Pension and other postretirement liabilities	(6,690)	(6,528)
Accrued pension and other postretirement benefit costs	(138,635)	(101,227)
Pension Plan [Member]
DefinedBenefitPlanChangeInFairValueOfPlanAssetsRollForward
Defined Benefit Plan, Plan Assets, Amount, Beginning Balance	738,296	776,482
Defined Benefit Plan, Plan Assets, Increase (Decrease) for Actual Return (Loss)	133,896	(44,876)
Contributions made by employer	3,867	55,311
DefinedBenefitPlanContributionsByPlanParticipants	1,276	1,402
DefinedBenefitPlanBenefitsPaid	(43,736)	(44,190)
DefinedBenefitPlanSettlementsPlanAssets	(1,846)	(1,371)
DefinedBenefitPlanForeignCurrencyExchangeRateChangesPlanAssets	3,386	(4,462)
Defined Benefit Plan, Fair Value of Plan Assets, Ending Balance	835,139	738,296
DefinedBenefitPlanFundedStatusOfPlan	(110,048)	(76,598)
DefinedBenefitPlanAmountsRecognizedInBalanceSheetAbstract
Pension asset	11,711	9,098
Pension and other postretirement liabilities	(5,143)	(4,905)
Accrued pension and other postretirement benefit costs	(116,616)	(80,791)
DefinedBenefitPlanAmountsRecognizedInBalanceSheet	(110,048)	(76,598)
DefinedBenefitPlanAccumulatedOtherComprehensiveIncomeBeforeTaxAbstract
DefinedBenefitPlanAccumulatedOtherComprehensiveIncomeNetGainsLossesBeforeTax	263,660	228,430
DefinedBenefitPlanAccumulatedOtherComprehensiveIncomeNetPriorServiceCostCreditBeforeTax	(934)	(1,225)
DefinedBenefitPlanAccumulatedOtherComprehensiveIncomeBeforeTax	262,726	227,205
DefinedBenefitPlanPensionPlansWithAccumulatedBenefitObligationsInExcessOfPlanAssetsAbstract
DefinedBenefitPlanPensionPlansWithAccumulatedBenefitObligationsInExcessOfPlanAssetsAggregateProjectedBenefitObligation	881,731	743,632
DefinedBenefitPlanPensionPlansWithAccumulatedBenefitObligationsInExcessOfPlanAssetsAggregateAccumulatedBenefitObligation	848,309	714,146
DefinedBenefitPlanPensionPlansWithAccumulatedBenefitObligationsInExcessOfPlanAssetsAggregateFairValueOfPlanAssets	759,972	658,327
Other Postretirement Benefits Plan [Member]
DefinedBenefitPlanChangeInFairValueOfPlanAssetsRollForward
Contributions made by employer	1,846	2,203
DefinedBenefitPlanContributionsByPlanParticipants	346	319
DefinedBenefitPlanBenefitsPaid	(2,192)	(2,522)
DefinedBenefitPlanFundedStatusOfPlan	(23,566)	(22,060)
DefinedBenefitPlanAmountsRecognizedInBalanceSheetAbstract
Pension and other postretirement liabilities	(1,547)	(1,623)
Accrued pension and other postretirement benefit costs	(22,019)	(20,437)
DefinedBenefitPlanAmountsRecognizedInBalanceSheet	(23,566)	(22,060)
DefinedBenefitPlanAccumulatedOtherComprehensiveIncomeBeforeTaxAbstract
DefinedBenefitPlanAccumulatedOtherComprehensiveIncomeNetGainsLossesBeforeTax	(2,429)	(4,751)
DefinedBenefitPlanAccumulatedOtherComprehensiveIncomeNetPriorServiceCostCreditBeforeTax	(1,404)	(2,060)
DefinedBenefitPlanAccumulatedOtherComprehensiveIncomeBeforeTax	$ (3,833)	$ (6,811)

PENSION AND OTHER POSTRETIREMENT BENEFIT PLANS (Plan Assumptions) (Detail)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Pension Plan [Member]
DefinedBenefitPlanWeightedAverageAssumptionsUsedInCalculatingBenefitObligationAbstract
Discount rate	3.05%	4.09%
Rate Of Compensation Increase	3.46%	3.50%
DefinedBenefitPlanWeightedAverageAssumptionsUsedInCalculatingNetPeriodicBenefitCostAbstract
Discount Rate	4.09%	3.46%
Expected return on assets assumption	7.59%	7.47%
Net Periodic Benefit Cost Rate Of Compensation Increase	3.50%	3.50%
Other Postretirement Benefits Plan [Member]
Defined Benefit Plan Disclosure [Line Items]
Year That Rate Reaches Ultimate Trend Rate	2026	2026
DefinedBenefitPlanWeightedAverageAssumptionsUsedInCalculatingBenefitObligationAbstract
Discount rate	3.15%	4.20%
DefinedBenefitPlanAssumedHealthCareCostTrendRatesAbstract
Rate Assumed For Next Fiscal Year	7.50%	7.85%
Ultimate Health Care Cost Trend Rate	4.50%	4.50%
DefinedBenefitPlanWeightedAverageAssumptionsUsedInCalculatingNetPeriodicBenefitCostAbstract
Discount Rate	4.20%	3.54%
Defined Benefit Plan Assumed Health Care Cost Trend Rates Net Periodic [Abstract]
Rate Assumed for Next Fiscal Year	7.85%	8.30%
Ultimate Health Care Cost Trend Rate	4.50%	4.50%

PENSION (Asset Class) (Detail)	Dec. 31, 2019	Dec. 31, 2018
Domestic Equities [Member]
Defined Benefit Plan Disclosure [Line Items]
Weighted Average Asset Allocations	51.00%	48.00%
Target Plan Asset Allocations	50.00%
International Equities [Member]
Defined Benefit Plan Disclosure [Line Items]
Weighted Average Asset Allocations	15.00%	15.00%
Target Plan Asset Allocations	15.00%
EquitySecuritiesMember
Defined Benefit Plan Disclosure [Line Items]
Weighted Average Asset Allocations	66.00%	63.00%
Target Plan Asset Allocations	65.00%
FixedIncomeFundsMember
Defined Benefit Plan Disclosure [Line Items]
Weighted Average Asset Allocations	34.00%	37.00%
Target Plan Asset Allocations	35.00%
Minimum \| Domestic Equities [Member]
Defined Benefit Plan Disclosure [Line Items]
Target Plan Asset Allocations	40.00%
Minimum \| International Equities [Member]
Defined Benefit Plan Disclosure [Line Items]
Target Plan Asset Allocations	10.00%
Minimum \| EquitySecuritiesMember
Defined Benefit Plan Disclosure [Line Items]
Target Plan Asset Allocations	55.00%
Minimum \| FixedIncomeFundsMember
Defined Benefit Plan Disclosure [Line Items]
Target Plan Asset Allocations	25.00%
Maximum \| Domestic Equities [Member]
Defined Benefit Plan Disclosure [Line Items]
Target Plan Asset Allocations	60.00%
Maximum \| International Equities [Member]
Defined Benefit Plan Disclosure [Line Items]
Target Plan Asset Allocations	20.00%
Maximum \| EquitySecuritiesMember
Defined Benefit Plan Disclosure [Line Items]
Target Plan Asset Allocations	75.00%
Maximum \| FixedIncomeFundsMember
Defined Benefit Plan Disclosure [Line Items]
Target Plan Asset Allocations	45.00%

PENSION (Fair Value) (Detail) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Defined Benefit Plan Fair Value Disclosure [Line Items]
DefinedBenefitPlanFairValueOfPlanAssets	$ 835,139	$ 738,296
Cash And Cash Equivalents [Member]
Defined Benefit Plan Fair Value Disclosure [Line Items]
DefinedBenefitPlanFairValueOfPlanAssets	22,457	42,261
EquitySecuritiesMember
Defined Benefit Plan Fair Value Disclosure [Line Items]
DefinedBenefitPlanFairValueOfPlanAssets	534,479	446,434
DebtSecuritiesMember
Defined Benefit Plan Fair Value Disclosure [Line Items]
DefinedBenefitPlanFairValueOfPlanAssets	273,979	238,880
Alternative Investments [Member]
Defined Benefit Plan Fair Value Disclosure [Line Items]
DefinedBenefitPlanFairValueOfPlanAssets	0
Insurance Contracts [Member]
Defined Benefit Plan Fair Value Disclosure [Line Items]
DefinedBenefitPlanFairValueOfPlanAssets		8,408
Other Assets [Member]
Defined Benefit Plan Fair Value Disclosure [Line Items]
DefinedBenefitPlanFairValueOfPlanAssets	4,224	2,313
FairValueInputsLevel1Member
Defined Benefit Plan Fair Value Disclosure [Line Items]
DefinedBenefitPlanFairValueOfPlanAssets	640,773	602,274
FairValueInputsLevel1Member \| Cash And Cash Equivalents [Member]
Defined Benefit Plan Fair Value Disclosure [Line Items]
DefinedBenefitPlanFairValueOfPlanAssets	2,010	20,034
FairValueInputsLevel1Member \| EquitySecuritiesMember
Defined Benefit Plan Fair Value Disclosure [Line Items]
DefinedBenefitPlanFairValueOfPlanAssets	427,391	404,509
FairValueInputsLevel1Member \| DebtSecuritiesMember
Defined Benefit Plan Fair Value Disclosure [Line Items]
DefinedBenefitPlanFairValueOfPlanAssets	211,372	177,731
FairValueInputsLevel2Member
Defined Benefit Plan Fair Value Disclosure [Line Items]
DefinedBenefitPlanFairValueOfPlanAssets	190,142	125,301
FairValueInputsLevel2Member \| Cash And Cash Equivalents [Member]
Defined Benefit Plan Fair Value Disclosure [Line Items]
DefinedBenefitPlanFairValueOfPlanAssets	20,447	22,227
FairValueInputsLevel2Member \| EquitySecuritiesMember
Defined Benefit Plan Fair Value Disclosure [Line Items]
DefinedBenefitPlanFairValueOfPlanAssets	107,088	41,925
FairValueInputsLevel2Member \| DebtSecuritiesMember
Defined Benefit Plan Fair Value Disclosure [Line Items]
DefinedBenefitPlanFairValueOfPlanAssets	62,607	61,149
FairValueInputsLevel3Member
Defined Benefit Plan Fair Value Disclosure [Line Items]
DefinedBenefitPlanFairValueOfPlanAssets	4,224	10,721	$ 13,103
FairValueInputsLevel3Member \| Alternative Investments [Member]
Defined Benefit Plan Fair Value Disclosure [Line Items]
DefinedBenefitPlanFairValueOfPlanAssets	0
FairValueInputsLevel3Member \| Insurance Contracts [Member]
Defined Benefit Plan Fair Value Disclosure [Line Items]
DefinedBenefitPlanFairValueOfPlanAssets	0	8,408	10,912
FairValueInputsLevel3Member \| Other Assets [Member]
Defined Benefit Plan Fair Value Disclosure [Line Items]
DefinedBenefitPlanFairValueOfPlanAssets	$ 4,224	$ 2,313	$ 2,191

PENSION (Plan Assets) (Detail) - USD ($) $ in Thousands	12 Months Ended
PENSION (Plan Assets) (Detail) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
FairValueAssetsMeasuredOnRecurringBasisUnobservableInputReconciliationLineItems
Defined Benefit Plan, Plan Assets, Amount, Beginning Balance	$ 738,296
Defined Benefit Plan, Fair Value of Plan Assets, Ending Balance	835,139	$ 738,296
FairValueInputsLevel3Member
FairValueAssetsMeasuredOnRecurringBasisUnobservableInputReconciliationLineItems
Defined Benefit Plan, Plan Assets, Amount, Beginning Balance	10,721	13,103
DefinedBenefitPlanActualReturnOnPlanAssetsStillHeld	115	150
DefinedBenefitPlanPurchasesSalesAndSettlements	(6,693)	(2,443)
DefinedBenefitPlanForeignCurrencyExchangeRateChangesPlanAssets	81	(89)
Defined Benefit Plan, Fair Value of Plan Assets, Ending Balance	4,224	10,721
Insurance Contracts [Member]
FairValueAssetsMeasuredOnRecurringBasisUnobservableInputReconciliationLineItems
Defined Benefit Plan, Plan Assets, Amount, Beginning Balance	8,408
Defined Benefit Plan, Fair Value of Plan Assets, Ending Balance		8,408
Insurance Contracts [Member] \| FairValueInputsLevel3Member
FairValueAssetsMeasuredOnRecurringBasisUnobservableInputReconciliationLineItems
Defined Benefit Plan, Plan Assets, Amount, Beginning Balance	8,408	10,912
DefinedBenefitPlanActualReturnOnPlanAssetsStillHeld	0	163
DefinedBenefitPlanPurchasesSalesAndSettlements	(8,408)	(2,595)
DefinedBenefitPlanForeignCurrencyExchangeRateChangesPlanAssets	0	(72)
Defined Benefit Plan, Fair Value of Plan Assets, Ending Balance	0	8,408
Other Assets [Member]
FairValueAssetsMeasuredOnRecurringBasisUnobservableInputReconciliationLineItems
Defined Benefit Plan, Plan Assets, Amount, Beginning Balance	2,313
Defined Benefit Plan, Fair Value of Plan Assets, Ending Balance	4,224	2,313
Other Assets [Member] \| FairValueInputsLevel3Member
FairValueAssetsMeasuredOnRecurringBasisUnobservableInputReconciliationLineItems
Defined Benefit Plan, Plan Assets, Amount, Beginning Balance	2,313	2,191
DefinedBenefitPlanActualReturnOnPlanAssetsStillHeld	115	(13)
DefinedBenefitPlanPurchasesSalesAndSettlements	1,715	152
DefinedBenefitPlanForeignCurrencyExchangeRateChangesPlanAssets	81	(17)
Defined Benefit Plan, Fair Value of Plan Assets, Ending Balance	$ 4,224	$ 2,313

PENSION (Future Service) (Detail) $ in Thousands	Dec. 31, 2019 USD ($)
Defined Benefit Plan Disclosure [Line Items]
Expected Future Benefit Payment, Next Twelve Months	$ 50,993
Expected Future Benefit Payment, Year Two	53,075
Expected Future Benefit Payment, Year Three	54,197
Expected Future Benefit Payment, Year Four	55,189
Expected Future Benefit Payment, Year Five	58,972
Expected Future Benefit Payment, Five Fiscal Years Thereafter	289,854
Pension Plan [Member]
Defined Benefit Plan Disclosure [Line Items]
Expected Future Benefit Payment, Next Twelve Months	49,446
Expected Future Benefit Payment, Year Two	51,481
Expected Future Benefit Payment, Year Three	52,608
Expected Future Benefit Payment, Year Four	53,597
Expected Future Benefit Payment, Year Five	57,406
Expected Future Benefit Payment, Five Fiscal Years Thereafter	282,548
Other Postretirement Benefits Plan [Member] \| United States [Member]
Defined Benefit Plan Disclosure [Line Items]
Expected Future Benefit Payment, Next Twelve Months	1,547
Expected Future Benefit Payment, Year Two	1,594
Expected Future Benefit Payment, Year Three	1,589
Expected Future Benefit Payment, Year Four	1,592
Expected Future Benefit Payment, Year Five	1,566
Expected Future Benefit Payment, Five Fiscal Years Thereafter	$ 7,306

SEGMENT INFORMATION (Detail) - USD ($)	3 Months Ended								12 Months Ended
SEGMENT INFORMATION (Detail) - USD ($)	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Segment Reporting Information [Line Items]
Total net sales									$ 2,487,961,000	$ 2,411,835,000	$ 2,271,026,000
Net Sales	$ 655,771,000	$ 614,880,000	$ 638,996,000	$ 578,314,000	$ 648,622,000	$ 595,393,000	$ 620,298,000	$ 547,522,000	2,487,961,000	2,411,835,000	2,271,026,000
Operating income									403,953,000	373,626,000	325,120,000
Depreciation and amortization									102,412,000	102,949,000	99,995,000
Total assets	3,764,261,000				3,255,385,000				3,764,261,000	3,255,385,000	3,236,321,000
Corporate And Other [Member]
Segment Reporting Information [Line Items]
Operating income									(35,109,000)	(36,347,000)	(33,483,000)
Operating Segments [Member]
Segment Reporting Information [Line Items]
Net Sales									2,487,961,000	2,411,835,000	2,271,026,000
Operating income									403,953,000	373,626,000	325,120,000
Depreciation and amortization									102,412,000	102,949,000	99,995,000
Total assets	3,764,261,000				3,255,385,000				3,764,261,000	3,255,385,000	3,236,321,000
PropertyPlantAndEquipmentAdditions									69,752,000	53,417,000	52,705,000
Operating Segments [Member] \| Commercial/Industrial
Segment Reporting Information [Line Items]
Total net sales									1,240,697,000	1,209,943,000	1,163,510,000
Operating income									196,455,000	182,669,000	168,146,000
Depreciation and amortization									48,227,000	50,690,000	53,180,000
Total assets	1,470,477,000				1,398,601,000				1,470,477,000	1,398,601,000	1,444,097,000
PropertyPlantAndEquipmentAdditions									34,077,000	30,411,000	29,028,000
Operating Segments [Member] \| Defense
Segment Reporting Information [Line Items]
Total net sales									580,845,000	559,058,000	557,954,000
Operating income									129,653,000	128,446,000	109,338,000
Depreciation and amortization									21,495,000	20,578,000	20,702,000
Total assets	1,184,116,000				961,298,000				1,184,116,000	961,298,000	1,044,776,000
PropertyPlantAndEquipmentAdditions									4,034,000	5,793,000	9,276,000
Operating Segments [Member] \| Power
Segment Reporting Information [Line Items]
Total net sales									670,950,000	649,754,000	554,048,000
Operating income									112,954,000	98,858,000	81,119,000
Depreciation and amortization									28,589,000	27,737,000	22,019,000
Total assets	804,432,000				720,073,000				804,432,000	720,073,000	482,753,000
PropertyPlantAndEquipmentAdditions									28,051,000	11,350,000	10,039,000
Operating Segments [Member] \| Corporate And Other [Member]
Segment Reporting Information [Line Items]
Operating income									(35,109,000)	(36,347,000)	(33,483,000)
Depreciation and amortization									4,101,000	3,944,000	4,094,000
Total assets	$ 305,236,000				$ 175,413,000				305,236,000	175,413,000	264,695,000
PropertyPlantAndEquipmentAdditions									3,590,000	5,863,000	4,362,000
Operating Segments [Member] \| Intersegment Eliminations [Member]
Segment Reporting Information [Line Items]
Total net sales									$ (4,531,000)	$ (6,920,000)	$ (4,486,000)

SEGMENT INFORMATION (Reconciliation) (Detail) - USD ($)	12 Months Ended
SEGMENT INFORMATION (Reconciliation) (Detail) - USD ($)	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Segment Reporting Information [Line Items]
Operating income	$ 403,953,000	$ 373,626,000	$ 325,120,000
Interest expense	(31,347,000)	(33,983,000)	(41,471,000)
Other income, net	23,856,000	16,596,000	15,970,000
Earnings before income taxes	396,462,000	356,239,000	299,619,000
Assets
Total assets	3,764,261,000	3,255,385,000	3,236,321,000
Non Segment Cash [Member]
Assets
Total assets	235,260,000	138,053,000	204,664,000
Non Segment Other Assets [Member]
Assets
Total assets	69,976,000	37,360,000	60,031,000
Corporate And Other [Member]
Segment Reporting Information [Line Items]
Operating income	(35,109,000)	(36,347,000)	(33,483,000)
Operating Segments [Member]
Segment Reporting Information [Line Items]
Operating income	439,062,000	409,973,000	358,603,000
Assets
Total assets	3,459,025,000	3,079,972,000	2,971,626,000
Operating Segments [Member]
Segment Reporting Information [Line Items]
Operating income	403,953,000	373,626,000	325,120,000
Assets
Total assets	3,764,261,000	3,255,385,000	3,236,321,000
Operating Segments [Member] \| Corporate And Other [Member]
Segment Reporting Information [Line Items]
Operating income	(35,109,000)	(36,347,000)	(33,483,000)
Assets
Total assets	$ 305,236,000	$ 175,413,000	$ 264,695,000

SEGMENT INFORMATION (Geographic) (Detail) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
RevenuesFromExternalCustomersAndLongLivedAssetsLineItems
Net Sales	$ 655,771	$ 614,880	$ 638,996	$ 578,314	$ 648,622	$ 595,393	$ 620,298	$ 547,522	$ 2,487,961	$ 2,411,835	$ 2,271,026
Property, plant, and equipment, net	385,593				374,660				385,593	374,660	390,235
United States [Member]
RevenuesFromExternalCustomersAndLongLivedAssetsLineItems
Net Sales									1,710,371	1,623,511	1,562,180
Property, plant, and equipment, net	271,609				258,504				271,609	258,504	264,829
United Kingdom [Member]
RevenuesFromExternalCustomersAndLongLivedAssetsLineItems
Net Sales									120,297	126,439	118,350
Property, plant, and equipment, net	34,228				34,649				34,228	34,649	41,100
Other Foreign Countries [Member]
RevenuesFromExternalCustomersAndLongLivedAssetsLineItems
Net Sales									657,293	661,885	590,496
Property, plant, and equipment, net	$ 79,756				$ 81,507				$ 79,756	$ 81,507	$ 84,306

SEGMENT INFORMATION SEGMENT INFORMATION (Product Line) (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Segment Reporting Information [Line Items]
Net Sales	$ 655,771	$ 614,880	$ 638,996	$ 578,314	$ 648,622	$ 595,393	$ 620,298	$ 547,522	$ 2,487,961	$ 2,411,835	$ 2,271,026
Flow Control [Member]
Segment Reporting Information [Line Items]
Net Sales									1,051,821	1,008,262	899,705
Controls [Member]
Segment Reporting Information [Line Items]
Net Sales									1,130,593	1,090,703	1,075,218
Surface Technologies [Member]
Segment Reporting Information [Line Items]
Net Sales									$ 305,547	$ 312,870	$ 296,103

CONTINGENCIES AND COMMITMENTS (Detail) - USD ($)	1 Months Ended	12 Months Ended
CONTINGENCIES AND COMMITMENTS (Detail) - USD ($)	Nov. 30, 2019	Dec. 31, 2019	Dec. 31, 2018
Loss Contingencies [Line Items]
Litigation Settlement, Amount Awarded to Other Party	$ 38,000,000
Payments for Legal Settlements	$ 6,000,000
Asset Retirement Obligation		$ 7,500,000
Surety Bond Outstanding		45,600,000
Standby letters of credit
Loss Contingencies [Line Items]
Letters of credit		32,600,000	$ 21,700,000
Financial Standby Letter of Credit [Member]
Loss Contingencies [Line Items]
Letters of credit		10,800,000	$ 11,700,000
Failure to Meet Contractual Obligations [Member]
Loss Contingencies [Line Items]
Loss Contingency, Damages Sought, Value		25,000,000
Minimum \| Failure to Meet Contractual Obligations [Member]
Loss Contingencies [Line Items]
Loss Contingency, Range of Possible Loss		0
Maximum \| Failure to Meet Contractual Obligations [Member]
Loss Contingencies [Line Items]
Loss Contingency, Range of Possible Loss		55,500,000
AP1000 US [Member] \| Minimum
Loss Contingencies [Line Items]
Loss Contingency, Range of Possible Loss		0
AP1000 US [Member] \| Maximum
Loss Contingencies [Line Items]
Loss Contingency, Range of Possible Loss		$ 31,000,000

ACCUMULATED OTHER COMPREHENSIVE INCOME LOSS (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Accumulated Other Comprehensive Income (Loss), Net of Tax	$ (288,447)	$ (216,840)
Other Comprehensive Income (Loss), before Reclassifications, Net of Tax	(16,765)	(83,820)
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax	6,195	12,213
Other Comprehensive Income (Loss), Net of Tax	(10,570)	(71,607)	$ 74,916
Accumulated Other Comprehensive Income (Loss), Net of Tax	(325,274)	(288,447)	(216,840)
Accounting Standards Update 2018-02 [Member]
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Accumulated Other Comprehensive Income (Loss), Net of Tax	(26,257)
Accumulated Translation Adjustment [Member]
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Accumulated Other Comprehensive Income (Loss), Net of Tax	(147,148)	(94,708)
Other Comprehensive Income (Loss), before Reclassifications, Net of Tax	18,447	(52,440)
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax	0	0
Other Comprehensive Income (Loss), Net of Tax	18,447	(52,440)
Accumulated Other Comprehensive Income (Loss), Net of Tax	(130,019)	(147,148)	(94,708)
Accumulated Translation Adjustment [Member] \| Accounting Standards Update 2018-02 [Member]
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Accumulated Other Comprehensive Income (Loss), Net of Tax	(1,318)
Accumulated Defined Benefit Plans Adjustment [Member]
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Accumulated Other Comprehensive Income (Loss), Net of Tax	(141,299)	(122,132)
Other Comprehensive Income (Loss), before Reclassifications, Net of Tax	(35,212)	(31,380)
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax	6,195	12,213
Other Comprehensive Income (Loss), Net of Tax	(29,017)	(19,167)
Accumulated Other Comprehensive Income (Loss), Net of Tax	(195,255)	$ (141,299)	$ (122,132)
Accumulated Defined Benefit Plans Adjustment [Member] \| Accounting Standards Update 2018-02 [Member]
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Accumulated Other Comprehensive Income (Loss), Net of Tax	$ (24,939)

ACCUMULATED OTHER COMPREHENSIVE INCOME LOSS ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) (Reclass) (Details) - USD ($)
$ in Thousands

3 Months Ended

12 Months Ended

Dec. 31, 2019

Sep. 30, 2019

Jun. 30, 2019

Mar. 31, 2019

Dec. 31, 2018

Sep. 30, 2018

Jun. 30, 2018

Mar. 31, 2018

Dec. 31, 2019

Dec. 31, 2018

Dec. 31, 2017

Accumulated Other Comprehensive Income (Loss) [Line Items]

Earnings before income taxes

$ 396,462

$ 356,239

$ 299,619

Provision for income taxes

(88,879)

(80,490)

(84,728)

Net earnings

$ 89,408

$ 82,510

$ 80,072

$ 55,593

$ 82,835

$ 74,483

$ 74,788

$ 43,643

307,583

275,749

$ 214,891

Reclassification out of Accumulated Other Comprehensive Income [Member] | Accumulated Defined Benefit Plans Adjustment [Member]

Accumulated Other Comprehensive Income (Loss) [Line Items]

Other Comprehensive (Income) Loss, Defined Benefit Plan, Prior Service Cost (Credit), Reclassification Adjustment from AOCI, before Tax

^[1]

939

908

Other Comprehensive Income (Loss), Defined Benefit Plan, Gain (Loss), Reclassification Adjustment from AOCI, before Tax

^[1]

(9,112)

(16,736)

Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI, Pension and Other Postretirement Benefit Plans, Curtailments, before Tax

0

(337)

Earnings before income taxes

(8,173)

(16,165)

Provision for income taxes

1,978

3,952

Net earnings

$ (6,195)

$ (12,213)

[1]	These items are included in the computation of net periodic pension cost. See Note 16, Pension and Other Postretirement Benefit Plans.

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References + Details

QUARTERLY RESULTS OF OPERATIONS (Detail) - USD ($)	3 Months Ended								12 Months Ended
QUARTERLY RESULTS OF OPERATIONS (Detail) - USD ($)	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Quarterly Financial Information Disclosure [Abstract]
Net Sales	$ 655,771,000	$ 614,880,000	$ 638,996,000	$ 578,314,000	$ 648,622,000	$ 595,393,000	$ 620,298,000	$ 547,522,000	$ 2,487,961,000	$ 2,411,835,000	$ 2,271,026,000
Gross Profit	245,752,000	226,076,000	230,044,000	196,873,000	241,052,000	222,518,000	226,500,000	181,191,000	898,745,000	871,261,000	800,785,000
Net earnings	$ 89,408,000	$ 82,510,000	$ 80,072,000	$ 55,593,000	$ 82,835,000	$ 74,483,000	$ 74,788,000	$ 43,643,000	$ 307,583,000	$ 275,749,000	$ 214,891,000
Basic earnings per share	$ 2.09	$ 1.93	$ 1.87	$ 1.30	$ 1.91	$ 1.70	$ 1.69	$ 0.99	$ 7.20	$ 6.28	$ 4.86
Diluted earnings per share	$ 2.08	$ 1.92	$ 1.86	$ 1.29	$ 1.89	$ 1.68	$ 1.68	$ 0.98	$ 7.15	$ 6.22	$ 4.80

- Definition

The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.

+ References

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+ Details

- Definition

The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period.

+ References

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+ Details

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References + Details

SUBSEQUENT EVENTS (Details) - USD ($) $ in Thousands			12 Months Ended
SUBSEQUENT EVENTS (Details) - USD ($) $ in Thousands	Feb. 26, 2020	Jan. 08, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Subsequent Event [Line Items]
Payments to Acquire Businesses, Gross			$ 185,209	$ 210,167	$ 232,630
Business Combination, Pro Forma Information, Revenue of Acquiree since Acquisition Date, Actual			11,000	64,000
Dyna-Flo Valve Services Ltd. (Dyna-Flo) [Member] \| Commercial/Industrial
Subsequent Event [Line Items]
Business Combination, Pro Forma Information, Revenue of Acquiree since Acquisition Date, Actual			25,000
Pension Plan [Member]
Subsequent Event [Line Items]
Contributions made by employer			$ 3,867	$ 55,311
Subsequent Event [Member] \| Dyna-Flo Valve Services Ltd. (Dyna-Flo) [Member] \| Commercial/Industrial
Subsequent Event [Line Items]
Payments to Acquire Businesses, Gross	$ 61,000
Subsequent Event [Member] \| Canada, Dollars \| Dyna-Flo Valve Services Ltd. (Dyna-Flo) [Member] \| Commercial/Industrial
Subsequent Event [Line Items]
Payments to Acquire Businesses, Gross	$ 81,000
Subsequent Event [Member] \| Pension Plan [Member]
Subsequent Event [Line Items]
Contributions made by employer		$ 150,000

SCHEDULE II VALUATION AND QUALIFYING ACCOUNTS (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
ValuationAndQualifyingAccountsDisclosureLineItems
Valuation Allowances and Reserves, Balance, Beginning Balance	$ 11,646	$ 12,322	$ 17,776
ValuationAllowancesAndReservesChargedToCostAndExpense	1,305	108	1,471
ValuationAllowancesAndReservesChargedToOtherAccounts	(22)	17	125
ValuationAllowancesAndReservesDeductions	9,543	801	7,050
Valuation Allowances and Reserves, Balance, Ending Balance	3,386	11,646	12,322
Reduction of US corporate income tax rate			4,300
Capital Loss Carryforward, Expired	5,700
ValuationAllowanceOfDeferredTaxAssetsMember
ValuationAndQualifyingAccountsDisclosureLineItems
Valuation Allowances and Reserves, Balance, Beginning Balance	11,646	12,322	17,776
ValuationAllowancesAndReservesChargedToCostAndExpense	1,305	108	1,471
ValuationAllowancesAndReservesChargedToOtherAccounts	(22)	17	125
ValuationAllowancesAndReservesDeductions	9,543	801	7,050
Valuation Allowances and Reserves, Balance, Ending Balance	$ 3,386	$ 11,646	$ 12,322