Company: BWXT
Filing Date: 2025-11-03
Form Type: 10-Q
Source: 0001486957-25-000059
Chunk: 36

Company: BWX Technologies, Inc.
Filing Date: 2025-11-03
Form: 10-Q
Item: Part I, Item 1
Chunk 36
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-based compensation recognized for all of our plans for the nine months ended September 30, 2025 and 2024 totaled $20.3 million and $15.0 million, respectively, with associated tax benefit totaling $4.0 million and $2.5 million, respectively.

NOTE 8 – SEGMENT REPORTING

As described in Note 1, our operations are assessed based on two reportable segments. An analysis of our operations by reportable segment is as follows:Three Months EndedSeptember 30,Nine Months EndedSeptember 30, 2025202420252024 (In thousands)REVENUES:Government Operations$616,697 $560,073 $1,760,943 $1,588,040 Commercial Operations250,971 113,112 555,420 371,641 Eliminations(1,382)(1,229)(3,780)(2,294)$866,286 $671,956 $2,312,583 $1,957,387 SEGMENT EXPENSES:Government OperationsResearch and Development Costs$2,079 $1,810 $5,454 $4,413 Gains on Asset Disposals and Impairments, Net— — (4,431)$(2)Other Segment Expenses (1)537,377 472,187 1,510,465 $1,344,134 539,456 473,997 $1,511,488 $1,348,545 Commercial OperationsResearch and Development Costs1,400 271 4,603 $429 (Gains) Losses on Asset Disposals and Impairments, Net1 — 14 $(2)Other Segment Expenses (1)226,696 106,113 514,770 $339,267 228,097 106,384 519,387 $339,694 Total Segment Expenses$767,553 $580,381 $2,030,875 $1,688,239 OPERATING INCOMEGovernment Operations$97,371 $101,609 $304,536 $279,815 Commercial Operations23,959 6,728 37,301 31,947 121,330 108,337 $341,837 $311,762 Unallocated Corporate (2)(7,981)(11,759)(29,434)(23