Company: BWXT
Filing Date: 2025-03-19
Form Type: 10-K/A
Source: 0001486957-25-000015
Chunk: 107

Company: BWX Technologies, Inc.
Filing Date: 2025-03-19
Form: 10-K/A
Chunk 107
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 previously awarded and in progress. Our backlog is equal to our remaining performance obligations under contracts that meet the criteria in FASB Topic Revenue from Contracts with Customers . At December 31, 2024, our ending backlog was $4,842.5 million, which included $387.4 million of unfunded backlog related to U.S. Government contracts. We expect to recognize approximately 48% of the revenue associated with our backlog by the end of 2025, with the remainder to be recognized thereafter.

#### NOTE 4 – EQUITY METHOD INVESTMENTS
We have investments in entities that we account for using the equity method. Our share of the undistributed earnings of our equity method investees were $40.4 million and $31.1 million at December 31, 2024 and 2023, respectively. These amounts are included in Investments in Unconsolidated Affiliates on our consolidated balance sheets.

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The following tables summarize combined balance sheet and income statement information for investments accounted for under the equity method:

|                                      |     | December 31,   
 2024           
 (In thousands) |         |     | 2023 |         |
|:-------------------------------------|:----|:---------------|--------:|:----|:-----|--------:|
| Current assets                       |     | $              | 567,185 |     | $    | 555,364 |
| Noncurrent assets                    |     |                |   1,302 |     |      |   1,933 |
| Total Assets                         |     | $              | 568,487 |     | $    | 557,297 |
| Total Liabilities                    |     | $              | 285,225 |     | $    | 307,562 |
| Owners' equity                       |     |                | 283,262 |     |      | 249,735 |
| Total Liabilities and Owners' Equity |     | $              | 568,487 |     | $    | 557,297 |

|              |     | Year Ended December 31, |      2024 |     |   |      2023 |     |   |      2022 |
|:-------------|:----|:------------------------|----------:|:----|:--|----------:|:----|:--|----------:|
|              |     | -In thousands           |           |     |   |           |