Company: BWXT
Filing Date: 2025-03-19
Form Type: 10-K/A
Source: 0001486957-25-000015
Chunk: 91

Company: BWX Technologies, Inc.
Filing Date: 2025-03-19
Form: 10-K/A
Chunk 91
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-----------------------------------|:----|:---------------|----------:|:----|:-----|----------:|
| Land                               |     | $              |    10,608 |     | $    |    10,627 |
| Buildings                          |     |                |   417,189 |     |      |   381,081 |
| Machinery and equipment            |     |                | 1,166,236 |     |      | 1,108,504 |
| Property under construction        |     |                |   584,539 |     |      |   571,758 |
|                                    |     |                | 2,178,572 |     |      | 2,071,970 |
| Less: Accumulated depreciation     |     |                |   900,411 |     |      |   843,450 |
| Property, Plant and Equipment, Net |     | $              | 1,278,161 |     | $    | 1,228,520 |

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#### Goodwill
Goodwill represents the excess of the cost of our acquired businesses over the fair value of the net assets acquired. We perform testing of goodwill for impairment annually or more frequently whenever events or circumstances indicate the carrying value of goodwill may be impaired. During the year ended December 31, 2023, we changed our annual goodwill impairment test date from September 30 to November 15. This is a change in method of applying an accounting principle which we believe is a preferable alternative as the new date of assessment is more closely aligned with the approval of our fourth quarter forecast and includes the most recent financial information available.

We may elect to perform a qualitative test when we believe that there is sufficient excess fair value over carrying value based on our most recent quantitative assessment, adjusted for relevant events and circumstances that could affect fair value during the current year. If we conclude based on this assessment that it is more likely than not that the reporting unit is not impaired, we do not perform a quantitative impairment test. In all other circumstances, we compare the fair value of a reporting unit to its carrying amount, including goodwill. If the fair value of the reporting unit exceeds its carrying value, no impairment charge is recorded. If the carrying amount of a reporting unit exceeds its fair value, an impairment charge is recorded to goodwill in the amount by which carrying value exceeds fair value.

The following summarizes the changes in the carrying amount of Goodwill:

|                              |     | Government