Company: BWXT
Filing Date: 2025-05-05
Form Type: 10-Q
Source: 0001486957-25-000026
Chunk: 26

Company: BWX Technologies, Inc.
Filing Date: 2025-05-05
Form: 10-Q
Item: Part I, Item 1
Chunk 26
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 in Other – net within the condensed consolidated statements of income. For the three months ended March 31, 2025 and 2024, these amounts were $(1.7) million and $(3.0) million, respectively. Components of net periodic benefit cost included in net income were as follows: Pension BenefitsOther BenefitsThree Months EndedMarch 31,Three Months EndedMarch 31, 2025202420252024 (In thousands)Service cost$1,683 $1,997 $85 $97 Interest cost11,453 11,630 532 505 Expected return on plan assets(14,004)(15,499)(486)(487)Amortization of prior service cost 791 820 22 11 Net periodic benefit (income) / loss$(77)$(1,052)$153 $126 

NOTE 5 – COMMITMENTS AND CONTINGENCIES

There were no material contingencies during the period covered by this Form 10-Q.

NOTE 6 – FAIR VALUE MEASUREMENTS

InvestmentsThe following is a summary of our investments measured at fair value at March 31, 2025:TotalLevel 1Level 2Level 3Unclassified (In thousands)Equity securitiesMutual funds$8,509 $— $8,509 $— $— Total$8,509 $— $8,509 $— $— The following is a summary of our investments measured at fair value at December 31, 2024:TotalLevel 1Level 2Level 3Unclassified (In thousands)Equity securitiesMutual funds$8,775 $— $8,775 $— $— Available-for-sale securitiesCorporate bonds1,834 1,834 — — — Total$10,609 $1,834 $8,775 $— $— We estimate the fair value of investments based on quoted market prices. For investments for which there are no quoted market prices, we derive fair values from available yield curves for investments of similar quality and terms.

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DerivativesLevel 2 derivative assets and liabilities currently consist of FX forward contracts. Where applicable, the value of these derivative assets and liabilities is computed by discounting the projected future cash flow amounts to present value using market-based observable inputs, including FX forward and spot rates, interest rates and