Company: BWXT
Filing Date: 2025-03-19
Form Type: 10-K/A
Source: 0001486957-25-000015
Chunk: 89

Company: BWX Technologies, Inc.
Filing Date: 2025-03-19
Form: 10-K/A
Chunk 89
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 of these earnings. We consider the earnings of our non-U.S. subsidiaries to be permanently reinvested.

Certain jurisdictions now implement the Organization for Economic Cooperation and Development’s Pillar Two rules regarding a 15% global minimum tax effective January 1, 2024. While it is uncertain whether the U.S. will enact legislation to adopt Pillar Two it had no impact on our provision for income taxes for the year ended December 31, 2024 and we do not currently expect Pillar Two to significantly impact our provision for income taxes in the future.

#### Earnings Per Share
We have computed earnings per common share on the basis of the weighted-average number of common shares, and, where dilutive, common share equivalents, outstanding during the indicated periods. We periodically issue a number of forms of stock-based compensation, including incentive and non-qualified stock options, restricted stock, restricted stock units, performance shares and performance units, subject to satisfaction of specific performance goals. We include the shares applicable to these plans in our computation of diluted earnings per share when related performance criteria have been met.

Cash and Cash Equivalents and Restricted Cash and Cash Equivalents

Our cash equivalents are highly liquid investments with maturities of three months or less when we purchase them.

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We record cash and cash equivalents as restricted when we are unable to freely use such cash and cash equivalents for our general operating purposes. At December 31, 2024, we had restricted cash and cash equivalents totaling $6.5 million, $3.7 million of which was held for future decommissioning of facilities (which is included in Other Assets on our consolidated balance sheets) and $2.8 million of which was held to meet reinsurance reserve requirements of our captive insurer.

The following table provides a reconciliation of cash and cash equivalents and restricted cash and cash equivalents on our consolidated balance sheets to the totals presented on our consolidated statements of cash flows:

|                                                                                                                                    |     | December 31,   
 2024           
 (In thousands) |        |     | 2023 |        |
|:-----------------------------------------------------------------------------------------------------------------------------------|:----|:---------------|-------:|:----|:-----|-------:|
| Cash and cash equivalents                                                                                                          |     | $              | 74,109 |     | $    | 75,766 |
| Restricted cash and cash equivalents                                                                                               |     |                |  2,785 |     |      |  2,858 |
| Restricted