Company: BWXT
Filing Date: 2025-03-19
Form Type: 10-K/A
Source: 0001486957-25-000015
Chunk: 92

Company: BWX Technologies, Inc.
Filing Date: 2025-03-19
Form: 10-K/A
Chunk 92
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 Operations 
 (In thousands)        |         |     | Commercial Operations |         |     | Total |         |
|:-----------------------------|:----|:----------------------|--------:|:----|:----------------------|--------:|:----|:------|--------:|
| Balance at December 31, 2022 |     | $                     | 172,087 |     | $                     | 121,078 |     | $     | 293,165 |
| Purchase price adjustment    |     |                       |     588 |     |                       |       — |     |       |     588 |
| Translation                  |     |                       |     578 |     |                       |   2,689 |     |       |   3,267 |
| Balance at December 31, 2023 |     | $                     | 173,253 |     | $                     | 123,767 |     | $     | 297,020 |
| Translation                  |     |                       |    -199 |     |                       |  -9,459 |     |       |  -9,658 |
| Balance at December 31, 2024 |     | $                     | 173,054 |     | $                     | 114,308 |     | $     | 287,362 |

#### Investments in Unconsolidated Affiliates
We use the equity method of accounting for affiliates in which we are able to exert significant influence. Currently, all of our material investments in affiliates that are not consolidated are recorded using the equity method. Affiliates in which we are unable to exert significant influence are carried at fair value.

#### Intangible Assets
Intangible assets are recognized at fair value when acquired. Intangible assets with definite lives are amortized to Costs and Expenses using the straight-line method over their estimated useful lives and tested for impairment when events or changes in circumstances indicate that their carrying amounts may not be recoverable. Intangible assets with indefinite lives are not amortized and are subject to annual impairment testing. We may elect to perform a qualitative assessment when testing indefinite-lived intangible assets for impairment to determine whether events or circumstances affecting significant inputs related to the most recent quantitative evaluation have occurred, indicating that it is more likely than not that the indefinite-lived intangible asset is impaired. Otherwise, we test indefinite-lived intangible assets for impairment by quantitatively determining the fair value of the indefinite-lived intangible asset and comparing the fair value of the intangible asset to its carrying