Company: BWXT
Filing Date: 2025-03-19
Form Type: 10-K/A
Source: 0001486957-25-000015
Chunk: 71

Company: BWX Technologies, Inc.
Filing Date: 2025-03-19
Form: 10-K/A
Chunk 71
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 bonds issued and outstanding under these arrangements totaled approximately $278.7 million.

Similarly, we have provided letters of credit and bank guarantees to governmental agencies and contractual counterparties to support regulatory and contractual obligations for certain decommissioning responsibilities, projects and legal matters. We utilize our Revolving Credit Facility and a bilateral letter of credit facility to support such obligations, but the issuance of letters of credit and bank guarantees under our bilateral letter of credit facility is at the issuer’s discretion, and our bilateral letter of credit facility generally permits the issuer, in its sole discretion, to demand collateral if the issuer does not otherwise have the benefit of the collateral under our Credit Facility. Although there can be no assurance that we will maintain our bilateral letter of credit capacity, we believe our current capacity, together with capacity under our Revolving Credit Facility, is adequate to support our existing requirements for the next 12 months. As of December 31, 2024, letters of credit and bank guarantees issued and outstanding under our bilateral letter of credit facility totaled approximately $33.7 million, and such letters of credit and bank guarantees are secured by the collateral under our Credit Facility.

Other

Cash, Cash Equivalents, Restricted Cash and Investments

In the aggregate, our cash and cash equivalents, restricted cash and cash equivalents and investments increased by $0.1 million to $91.2 million at December 31, 2024 from $91.1 million at December 31, 2023, primarily due to the items discussed below. Our domestic and foreign cash and cash equivalents, restricted cash and cash equivalents and investments as of December 31, 2024 and 2023 were as follows:

|          |     | December 31,   
 2024           
 (In thousands) |        |     | 2023 |        |
|:---------|:----|:---------------|-------:|:----|:-----|-------:|
| Domestic |     | $              | 69,595 |     | $    | 71,177 |
| Foreign  |     |                | 21,585 |     |      | 19,934 |
| Total    |     | $              | 91,180 |     | $    | 91,111 |

Our working capital increased by $13.0 million to $455.8 million at December 31, 2024 from $442.8 million at December 31, 2023, primarily attributable to the change in income taxes receivable and prepaid expenses which was