Company: BWXT
Filing Date: 2025-02-24
Form Type: 10-K
Source: 0001486957-25-000008
Chunk: 62

Company: BWX Technologies, Inc.
Filing Date: 2025-02-24
Form: 10-K
Item: Item 8
Chunk 62
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 note receivable related to a third-party loan. We base the fair value of this level 2 note receivable instrument on the present value of future cash flows discounted at market interest rates for financial instruments with similar quality and terms. At December 31, 2024, the carrying value of our note receivable was $6.5 million and approximated its fair value. 

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NOTE 15 – SEGMENT REPORTING

As described in Note 1, our operations are assessed based on two reportable segments. The operations of our segments are managed separately, and each segment has unique technology, services and customer classes. We account for intersegment sales at prices that we generally establish by reference to similar transactions with unaffiliated customers. Reportable segments are measured based on operating income exclusive of general corporate expenses and gains (losses) on sales of corporate assets. Segment operating income is derived directly from our internal management reporting system and the accounting policies that we use to derive segment operating income are identical to those the consolidated company uses.Information about our Segments: Year Ended December 31, 202420232022 (In thousands)REVENUES:Government Operations$2,183,040 $2,031,337 $1,808,483 Commercial Operations523,972 466,344 427,358 Eliminations(3,358)(1,372)(3,007)$2,703,654 $2,496,309 $2,232,834 SEGMENT EXPENSES:Government Operations:Research and Development Costs$6,306 $6,459 $6,738 Losses (Gains) on Asset Disposals and Impairments, Net2,462 1,043 (250)Other Segment Expenses (1)1,852,328 1,699,960 1,511,467 $1,861,096 $1,707,462 $1,517,955 Commercial Operations:Research and Development Costs$1,172 $1,154 $2,797 Losses (Gains) on Asset Disposals and Impairments, Net57 (9)6,233 Other Segment Expenses (1)475,927 427,667 390,910 477,156 428,812 399,940 Total Segment Expenses$2,338,252 $2,136,274 $1,917,895 OPERATING