Company: BWXT
Filing Date: 2025-11-03
Form Type: 10-Q
Source: 0001486957-25-000059
Chunk: 64

Company: BWX Technologies, Inc.
Filing Date: 2025-11-03
Form: 10-Q
Item: Part I, Item 8
Chunk 64
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4. Our effective tax rate for the nine months ended September 30, 2025 was 20.5% as compared to 22.0% for the nine months ended September 30, 2024. The effective tax rates for the three and nine months ended September 30, 2025 differed from the U.S. corporate federal income tax rate of 21% primarily due to state income taxes within the U.S. and the unfavorable rate differential associated with our foreign earnings. The effective tax rates for the three and nine months ended September 30, 2024 were higher than the U.S. corporate federal income tax rate of 21% due to state income taxes within the U.S. and the unfavorable rate differential associated with our foreign earnings.On July 4, 2025, President Trump signed into law an act commonly referred to as the “One Big Beautiful Bill Act”. This bill includes a number of tax provisions including extending existing provisions that were set to expire, substantive changes in international tax rules and the repeal or phase outs of certain energy tax credits. We are currently evaluating the impact of this legislation on our results of operations, financial position and cash flows.Cash and Cash Equivalents and Restricted Cash and Cash EquivalentsAt September 30, 2025, we had restricted cash and cash equivalents totaling $7.4 million, $4.3 million of which was held for future decommissioning of facilities (which is included in Other Assets on our condensed consolidated balance sheets) and $3.1 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 condensed consolidated balance sheets to the totals presented on our condensed consolidated statements of cash flows:September 30,2025December 31,2024 (In thousands)Cash and cash equivalents$79,592 $74,109 Restricted cash and cash equivalents3,058 2,785 Restricted cash and cash equivalents included in Other Assets4,303 3,677 Total cash and cash equivalents and restricted cash and cash equivalents as presented on our condensed consolidated statements of cash flows$86,953 $80,571 InventoriesAt September 30, 2025 and December 31, 2024, we had inventories totaling $57.8 million and $40.3 million, respectively, consisting almost entirely of raw materials and supplies.Property, Plant and Equipment, NetProperty, plant and