Company: BWXT
Filing Date: 2025-11-03
Form Type: 10-Q
Source: 0001486957-25-000059
Chunk: 33

Company: BWX Technologies, Inc.
Filing Date: 2025-11-03
Form: 10-Q
Item: Part I, Item 1
Chunk 33
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:Unbilled receivables$619,059 $559,415 Retainages$67,951 $33,667 Advance billings on contracts$211,399 $161,290 During the three months ended September 30, 2025 and 2024, we recognized $14.7 million and $5.8 million, respectively, of revenues that were in Advance billings on contracts at the beginning of each year. During the nine months ended September 30, 2025 and 2024, we recognized $138.3 million and $92.2 million, respectively, of revenues that were in Advance billings on contracts at the beginning of each year.Remaining Performance ObligationsRemaining performance obligations represent the dollar amount of revenue we expect to recognize in the future from performance obligations on contracts previously awarded and in progress. At September 30, 2025, our remaining performance obligations were $7,389.1 million. We expect to recognize approximately 35% of the revenue associated with our remaining performance obligations by the end of 2026, with the remainder to be recognized thereafter.

NOTE 4 – PENSION PLANS AND POSTRETIREMENT BENEFITS

We record the service cost component of net periodic benefit cost within Operating income on our condensed consolidated statements of income. For the three months ended September 30, 2025 and 2024, these amounts were $5.2 million and $2.0 million, respectively. For the nine months ended September 30, 2025 and 2024, these amounts were $10.3 million and $5.9 million, respectively. All other components of net periodic benefit cost are included in Other – net within the condensed consolidated statements of income. For the three months ended September 30, 2025 and 2024, these amounts were $(2.4) million and $(2.8) million, respectively. For the nine months ended September 30, 2025 and 2024, these amounts were $(6.1) million and $(8.5) million, respectively. Components of net periodic benefit cost included in net income were as follows: Pension BenefitsOther BenefitsThree Months EndedSeptember 30,Nine Months EndedSeptember 30,Three Months EndedSeptember 30,Nine Months EndedSeptember 30, 20252024202520242025202420252024 (In thousands)Service cost$4,446 $1,880 $9,