Company: BWXT
Filing Date: 2025-02-24
Form Type: 10-K
Source: 0001486957-25-000008
Chunk: 66

Company: BWX Technologies, Inc.
Filing Date: 2025-02-24
Form: 10-K
Item: Item 8
Chunk 66
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million as a result of the successful negotiation of change orders related to cost growth that was driven by out-of-scope changes associated with the manufacture of non-nuclear components. In the quarter ended September 30, 2023, we recognized $22.5 million of favorable contract adjustments related to a nuclear operations contract.

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We immediately recognize actuarial gains (losses) for our pension and postretirement benefit plans in earnings as a component of net periodic benefit cost. Recorded in the quarters ended December 31, 2024 and 2023, the effects of these adjustments on pre-tax income were $(10.6) million and $(30.8) million, respectively.

NOTE 17 – EARNINGS PER SHARE

The following table sets forth the computation of basic and diluted earnings per share: Year Ended December 31, 202420232022 (In thousands, except shares andper share amounts)Basic:Net Income Attributable to BWX Technologies, Inc.$281,941 $245,849 $238,191 Weighted-average common shares91,572,674 91,619,156 91,447,088 Basic earnings per common share$3.08 $2.68 $2.60 Diluted:Net Income Attributable to BWX Technologies, Inc.$281,941 $245,849 $238,191 Weighted-average common shares (basic)91,572,674 91,619,156 91,447,088 Effect of dilutive securities:Stock options, restricted stock units and performance shares (1)287,058 255,381 255,023 Adjusted weighted-average common shares91,859,732 91,874,537 91,702,111 Diluted earnings per common share$3.07 $2.68 $2.60 (1)At December 31, 2024, 2023 and 2022, we excluded 64,575, 6,089 and 10,419 shares, respectively, from our diluted share calculation as their effect would have been antidilutive.

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