Company: BWXT
Filing Date: 2025-05-05
Form Type: 10-Q
Source: 0001486957-25-000026
Chunk: 20

Company: BWX Technologies, Inc.
Filing Date: 2025-05-05
Form: 10-Q
Item: Part I, Item 1
Chunk 20
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 (Loss)The components of Accumulated other comprehensive income (loss) included in Stockholders' Equity are as follows:March 31,2025December 31,2024 (In thousands)Currency translation adjustments$(29,600)$(33,735)Net unrealized gain on derivative financial instruments974 490 Unrecognized prior service cost on benefit obligations(14,594)(15,233)Net unrealized gain (loss) on available-for-sale investments(94)267 Accumulated other comprehensive loss$(43,314)$(48,211)

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The amounts reclassified out of Accumulated other comprehensive income (loss) by component and the affected condensed consolidated statements of income line items are as follows: Three Months EndedMarch 31,  20252024 Accumulated Other Comprehensive Income (Loss) Component Recognized(In thousands)Line Item PresentedRealized gain (loss) on derivative financial instruments$(77)$(34)Revenues246 116 Cost of operations169 82 Total before tax(37)(21)Provision for Income Taxes$132 $61 Net IncomeAmortization of prior service cost on benefit obligations$(797)$(831)Other – net158 161 Provision for Income Taxes$(639)$(670)Net IncomeRealized gains on investments$381 $— Other – net(80)— Provision for Income Taxes$301 $— Net IncomeTotal reclassification for the period$(206)$(609)Derivative Financial InstrumentsOur operations give rise to exposure to market risks from changes in foreign currency exchange ("FX") rates. We use derivative financial instruments, primarily FX forward contracts, to reduce the impact of changes in FX rates on our operating results. We use these instruments to hedge our exposure associated with revenues or costs on our long-term contracts and other transactions that are denominated in currencies other than our operating entities' functional currencies. We do not hold or issue derivative financial instruments for trading or other speculative purposes.We enter into derivative financial instruments primarily as hedges of certain firm purchase and sale commitments and loans between domestic and foreign subsidiaries denominated in foreign currencies. We record these contracts at fair value on our condensed consolidated balance sheets. Based on the hedge designation at the inception of the contract, the related gains and losses on these contracts are deferred in stockholders' equity as a component of Accumulated other comprehensive income (loss) until the hedged item is recognized in earnings. The gain or loss