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SEGMENT INFORMATION
 3 Months Ended
Mar. 31, 2024
Segment Reporting [Abstract]  
SEGMENT INFORMATION SEGMENT INFORMATION
 
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 were as follows:
Three Months Ended
March 31,
(In thousands)20242023
Net sales
Aerospace & Industrial$219,547 $203,586 
Defense Electronics212,483 163,070 
Naval & Power282,213 266,814 
Less: Intersegment revenues(1,076)(2,610)
Total consolidated$713,167 $630,860 
Operating income (expense)
Aerospace & Industrial$27,466 $26,545 
Defense Electronics48,081 23,368 
Naval & Power35,191 37,937 
Corporate and other (1)
(10,777)(9,235)
Total consolidated$99,961 $78,615 
(1) Includes pension and other postretirement benefit expense, certain environmental costs related to remediation at legacy sites, and certain other expenses.

Adjustments to reconcile operating income to earnings before income taxes are as follows:
Three Months Ended
March 31,
(In thousands)20242023
Total operating income$99,961 $78,615 
Interest expense10,570 12,944 
Other income, net9,608 7,767 
Earnings before income taxes$98,999 $73,438 
(In thousands)March 31, 2024December 31, 2023
Identifiable assets
Aerospace & Industrial$1,080,200 $1,077,808 
Defense Electronics1,520,096 1,517,877 
Naval & Power1,543,826 1,496,063 
Corporate and Other467,960 529,221 
Total consolidated$4,612,082 $4,620,969