Company: BWXT
Filing Date: 2025-05-05
Form Type: 10-Q
Source: 0001486957-25-000026
Chunk: 51

Company: BWX Technologies, Inc.
Filing Date: 2025-05-05
Form: 10-Q
Item: Part I, Item 8
Chunk 51
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 21% primarily due to excess tax benefits associated with equity compensation. The effective tax rate for the three months ended March 31, 2024 was higher than the U.S. corporate income tax rate of 21% primarily due to state income taxes within the U.S. and the unfavorable rate differential associated with our foreign earnings.Cash and Cash Equivalents and Restricted Cash and Cash EquivalentsAt March 31, 2025, we had restricted cash and cash equivalents totaling $6.5 million, $3.7 million of which was held for future decommissioning of facilities (which is included in Other Assets on our condensed consolidated balance sheets) and $2.8 million of which was held to meet reinsurance reserve requirements of our captive insurer.

9

The following table provides a reconciliation of cash and cash equivalents and restricted cash and cash equivalents on our condensed consolidated balance sheets to the totals presented on our condensed consolidated statements of cash flows:March 31,2025December 31,2024 (In thousands)Cash and cash equivalents$55,435 $74,109 Restricted cash and cash equivalents2,813 2,785 Restricted cash and cash equivalents included in Other Assets3,708 3,677 Total cash and cash equivalents and restricted cash and cash equivalents as presented on our condensed consolidated statements of cash flows$61,956 $80,571 InventoriesAt March 31, 2025 and December 31, 2024, we had inventories totaling $49.6 million and $40.3 million, respectively, consisting almost entirely of raw materials and supplies.Property, Plant and Equipment, NetProperty, plant and equipment is stated at cost and is set forth below: March 31,2025December 31,2024 (In thousands)Land$12,586 $10,608 Buildings422,964 417,189 Machinery and equipment1,188,562 1,166,236 Property under construction592,526 584,539 2,216,638 2,178,572 Less: Accumulated depreciation918,579 900,411 Property, Plant and Equipment, Net$1,298,059 $1,278,161 Accumulated Other Comprehensive Income (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