Company: BWXT
Filing Date: 2025-02-24
Form Type: 10-K
Source: 0001486957-25-000008
Chunk: 47

Company: BWX Technologies, Inc.
Filing Date: 2025-02-24
Form: 10-K
Item: Item 8
Chunk 47
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, we completed the wind-up of our foreign salaried pension benefit plan and settled approximately $48.8 million in benefit obligations. As a result, we recognized pension settlement-related charges of $12.6 million during the year ended December 31, 2022. Additional Information Pension BenefitsYear Ended December 31,Other BenefitsYear Ended December 31, 2024202320242023 (In thousands)Decrease in accumulated other comprehensive income due to actuarial losses – before taxes$(1,307)$(2,161)$— $— In the current fiscal year, we have recognized expense in other comprehensive income as a component of net periodic benefit cost of approximately $3.3 million and $0.0 million for our pension benefits and other benefits, respectively.

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Assumptions Pension BenefitsOther Benefits 2024202320242023Weighted-average assumptions used to determine net periodic benefit obligations at December 31:Discount rate5.62 %5.07 %5.33 %4.92 % Pension BenefitsOther Benefits 202420232022202420232022Weighted-average assumptions used to determine net periodic benefit cost for the years ended December 31:Discount rate to determine interest cost4.88 %5.26 %2.42 %4.84 %5.23 %2.42 %Expected return on plan assets7.13 %7.13 %7.10 %4.20 %5.67 %5.67 %The expected return on plan assets rate assumptions are based on the long-term expected returns for the investment mix of assets in the portfolio. In setting these rates, we use a building-block approach. Historical real return trends for the various asset classes in the plan's portfolio are combined with anticipated future market conditions to estimate the real rate of return for each asset class. These rates are then adjusted for anticipated future inflation to estimate nominal rates of return for each asset class. The expected rate of return on plan assets is then determined to be the weighted-average nominal return based on the weightings of the asset classes within the total asset portfolio.Our existing other benefit plans are unfunded, with the exception of the NFS postretirement benefit plans. These plans provide health benefits to certain salaried and hourly employees, as well as retired employees, of NFS. All of the assets for these postretirement benefit plans are contributed into a Voluntary Employees