Company: BWXT
Filing Date: 2025-03-19
Form Type: 10-K/A
Source: 0001486957-25-000015
Chunk: 135

Company: BWX Technologies, Inc.
Filing Date: 2025-03-19
Form: 10-K/A
Chunk 135
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2024 and 2023.

Note receivable. Included in Other Assets is a note receivable related to a third-party loan. We base the fair value of this level 2 note receivable instrument on the present value of future cash flows discounted at market interest rates for financial instruments with similar quality and terms. At December 31, 2024, the carrying value of our note receivable was $6.5 million and approximated its fair value.

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#### NOTE 15 – SEGMENT REPORTING
As described in Note 1, our operations are assessed based on two reportable segments. The operations of our segments are managed separately, and each segment has unique technology, services and customer classes. We account for intersegment sales at prices that we generally establish by reference to similar transactions with unaffiliated customers. Reportable segments are measured based on operating income exclusive of general corporate expenses and gains (losses) on sales of corporate assets. Segment operating income is derived directly from our internal management reporting system and the accounting policies that we use to derive segment operating income are identical to those the consolidated company uses.

Information about our Segments:

|                                                        |     | Year Ended December 31, |      2024 |     |   |      2023 |     |   |      2022 |
|:-------------------------------------------------------|:----|:------------------------|----------:|:----|:--|----------:|:----|:--|----------:|
|                                                        |     | -In thousands           |           |     |   |           |     |   |           |
| REVENUES:                                              |     |                         |           |     |   |           |     |   |           |
| Government Operations                                  |     | $                       | 2,183,040 |     | $ | 2,031,337 |     | $ | 1,808,483 |
| Commercial Operations                                  |     |                         |   523,972 |     |   |   466,344 |     |   |   427,358 |
| Eliminations                                           |     |                         |    -3,358 |     |   |    -1,372 |     |   |    -3,007 |
|                                                        |     | $                       | 2,703,654 |     | $ | 2,496,309 |     | $ | 2,232,834 |
| SEGMENT EXPENSES:                                      |