Company: BWXT
Filing Date: 2025-02-24
Form Type: 10-K
Source: 0001486957-25-000008
Chunk: 61

Company: BWX Technologies, Inc.
Filing Date: 2025-02-24
Form: 10-K
Item: Item 8
Chunk 61
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1,834 — — — Total$10,609 $1,834 $8,775 $— $— The following is a summary of our investments measured at fair value at December 31, 2023:12/31/2023Level 1Level 2Level 3Unclassified (In thousands)Equity securitiesMutual funds$7,713 $— $7,713 $— $— Available-for-sale securitiesCorporate bonds1,783 1,783 — — — Total$9,496 $1,783 $7,713 $— $— DerivativesLevel 2 derivative assets and liabilities currently consist of FX forward contracts. Where applicable, the value of these derivative assets and liabilities is computed by discounting the projected future cash flow amounts to present value using market-based observable inputs, including FX forward and spot rates, interest rates and counterparty performance risk adjustments. At December 31, 2024 and 2023, we had FX forward contracts outstanding to purchase or sell foreign currencies, primarily Canadian dollars and Euros, with a total fair value of $8.2 million and $(9.9) million, respectively.Other Financial InstrumentsWe used the following methods and assumptions in estimating our fair value disclosures for our other financial instruments:Cash and cash equivalents and restricted cash and cash equivalents. The carrying amounts that we have reported in the accompanying consolidated balance sheets for Cash and cash equivalents and Restricted cash and cash equivalents approximate their fair values due to their highly liquid nature.Long-term and short-term debt. We base the fair values of debt instruments, including our Senior Notes, on quoted market prices. Where quoted prices are not available, we base the fair values on the present value of future cash flows discounted at estimated borrowing rates for similar debt instruments or on estimated prices based on current yields for debt issues of similar quality and terms. At December 31, 2024 and 2023, the fair value of our Senior Notes due 2028 was $374.6 million and $367.7 million, respectively. At December 31, 2024 and 2023, the fair value of our Senior Notes due 2029 was $371.9 million and $367.0 million, respectively. The fair value of our remaining debt instruments approximated their carrying values at December 31, 2024 and 2023.

Note receivable. Included in Other Assets is a