Company: BWXT
Filing Date: 2025-03-19
Form Type: 10-K/A
Source: 0001486957-25-000015
Chunk: 95

Company: BWX Technologies, Inc.
Filing Date: 2025-03-19
Form: 10-K/A
Chunk 95
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     | $                       |  9,078 |     | $ | 11,126 |     | $ | 10,696 |
| Additions                      |     |                         |      — |     |   |      — |     |   |  2,405 |
| Interest expense               |     |                         | -2,048 |     |   | -2,048 |     |   | -1,975 |
| Balance at end of period       |     | $                       |  7,030 |     | $ |  9,078 |     | $ | 11,126 |

#### Pension Plans and Postretirement Benefits
We sponsor various defined benefit pension and postretirement benefit plans covering certain employees of our U.S. and Canadian subsidiaries. We utilize actuarial valuations to calculate the cost and benefit obligations of our pension and postretirement benefits. The actuarial valuations utilize significant assumptions in the determination of our benefit cost and

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obligations, including assumptions regarding discount rates, expected rate of return on plan assets, mortality and health care cost trends. We determine our discount rate based on a yield curve comprising rates of return on high-quality, fixed-income investments currently available and expected to be available during the period to maturity of our pension and postretirement benefit plan obligations. The expected rate of return on plan assets assumption is based on capital market assumptions of the long-term expected returns for the investment mix of assets currently in the portfolio. The expected rate of return on plan assets is determined to be the weighted-average of the nominal returns based on the weightings of the classes within the total asset portfolio. Expected health care cost trends represent expected annual rates of change in the cost of health care benefits and are estimated based on analysis of health care cost inflation.

The components of benefit cost related to service cost, interest cost, expected return on plan assets and prior service cost amortization are recorded on a quarterly basis based on actuarial assumptions. In the fourth quarter of each year, or as interim remeasurements are required, we immediately recognize net actuarial gains and losses in earnings as a component of net periodic benefit cost. Recognized net actuarial gains and losses consist primarily of our reported actuarial gains and losses and the difference between the actual return on plan assets and the expected return on plan assets.

We recognize the funded status of each plan as either an asset or a liability in the consolidated balance sheets. The funded