Company: BWXT
Filing Date: 2025-08-04
Form Type: 10-Q
Source: 0001486957-25-000052
Chunk: 69

Company: BWX Technologies, Inc.
Filing Date: 2025-08-04
Form: 10-Q
Item: Part I, Item 8
Chunk 69
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 amounts. June 30,December 31, 20252024 (In thousands)Included in Contracts in progress:Unbilled receivables$620,627 $559,415 Retainages$40,712 $33,667 Advance billings on contracts$198,336 $161,290 During the three months ended June 30, 2025 and 2024, we recognized $54.1 million and $43.6 million, respectively, of revenues that were in Advance billings on contracts at the beginning of each year. During the six months ended June 30, 2025 and 2024, we recognized $123.6 million and $86.4 million, respectively, of revenues that were in Advance billings on contracts at the beginning of each year.Remaining Performance ObligationsRemaining performance obligations represent the dollar amount of revenue we expect to recognize in the future from performance obligations on contracts previously awarded and in progress. At June 30, 2025, our remaining performance obligations were $6,015.2 million. We expect to recognize approximately 53% of the revenue associated with our remaining performance obligations by the end of 2026, with the remainder to be recognized thereafter.

NOTE 4 – PENSION PLANS AND POSTRETIREMENT BENEFITS

We record the service cost component of net periodic benefit cost within Operating income on our condensed consolidated statements of income. For the three months ended June 30, 2025 and 2024, these amounts were $3.3 million and 

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$1.9 million, respectively. For the six months ended June 30, 2025 and 2024, these amounts were $5.0 million and $4.0 million, respectively. All other components of net periodic benefit cost are included in Other – net within the condensed consolidated statements of income. For the three months ended June 30, 2025 and 2024, these amounts were $(2.0) million and $(2.7) million, respectively. For the six months ended June 30, 2025 and 2024, these amounts were $(3.7) million and $(5.7) million, respectively. Components of net periodic benefit cost included in net income were as follows: Pension BenefitsOther BenefitsThree Months EndedJune 30,Six Months EndedJune 30,Three Months EndedJune 30,Six Months EndedJune 30,