Company: BWXT
Filing Date: 2025-03-19
Form Type: 10-K/A
Source: 0001486957-25-000015
Chunk: 72

Company: BWX Technologies, Inc.
Filing Date: 2025-03-19
Form: 10-K/A
Chunk 72
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 partially offset by the timing of project cash flows.

Our net cash provided by operating activities increased by $44.7 million to $408.4 million in the year ended December 31, 2024, compared to $363.7 million in the year ended December 31, 2023. The increase in cash provided by operating activities was primarily attributable to the timing of project cash flows.

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Our net cash used in investing activities decreased by $1.1 million to $154.6 million in the year ended December 31, 2024, compared to $155.6 million in the year ended December 31, 2023. No single item had a significant impact on the change in cash used in investing activities.

Our net cash used in financing activities increased by $83.4 million to $252.8 million in the year ended December 31, 2024, compared to cash used in financing activities of $169.4 million in the year ended December 31, 2023. The increase in cash used in financing activities was primarily attributable to a reduction in net borrowings of long-term debt of $75.0 million and an increase in repurchases of common stock of $20.0 million.

At December 31, 2024, we had long-term investments with a fair value of $10.6 million. Our investment portfolio consists primarily of corporate bonds and mutual funds.

Cash Requirements

We believe we have sufficient cash and cash equivalents and borrowing capacity, along with cash generated from operations and continued access to debt markets, to satisfy our cash requirements for the next 12 months and beyond.

Our cash requirements as of December 31, 2024 include the following contractual obligations:

|                          |     | Total          
 (In thousands) |           |     | Less than 
 1 Year    |        |     | 1-3   
 Years |         |     | 3-5   
 Years |         |     | After   
 5 Years |        |
|:-------------------------|:----|:---------------|----------:|:----|:----------|-------:|:----|:------|--------:|:----|:------|--------:|:----|:--------|-------:|
| Long-term debt principal |     | $              | 1,062,500 |     | $         | 12,500 |     | $     | 250,000 |     | $     | 800,000 |