Company: BWXT
Filing Date: 2025-03-19
Form Type: 10-K/A
Source: 0001486957-25-000015
Chunk: 118

Company: BWX Technologies, Inc.
Filing Date: 2025-03-19
Form: 10-K/A
Chunk 118
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     |               |                 -60,291 |     |      | -60,437 |     |      | -83,254 |     |      |                  -1,948 |     |      | -2,536 |     |      | -2,974 |
| Amortization of prior service cost       |     |               |                   3,280 |     |      |   3,238 |     |      |   3,257 |     |      |                      45 |     |      |     40 |     |      |     26 |
| Recognized net actuarial loss (gain)     |     |               |                   9,485 |     |      |  31,755 |     |      |  52,202 |     |      |                   1,122 |     |      |   -946 |     |      | -5,616 |
| Net periodic benefit cost (income)       |     | $             |                   5,510 |     | $    |  29,709 |     | $    |  14,245 |     | $    |                   1,615 |     | $    |   -965 |     | $    | -6,527 |

Net periodic benefit cost related to our pension plans is calculated in accordance with GAAP. In addition, we calculate pension costs in accordance with U.S. cost accounting standards ("CAS") for purposes of cost recovery on our U.S. Government contracts to the extent applicable. See further discussion of CAS pension costs under the heading "Critical Accounting Estimates" in Item 7 of this Annual Report on Form 10-K.

Recognized net actuarial losses (gains) consist primarily of our reported actuarial losses (gains), settlements, and the differences between the actual returns on plan assets and the expected returns on plan assets. The benefit obligation of our pension plans as of December 31, 2024 and 2023 increased (decreased) by $(49.0) million and $33.2 million, respectively, due to changes in the discount rate.

In November 2022, we completed the wind-up of our foreign salaried pension benefit plan and settled approximately $48.8 million in benefit obligations. As a result, we recognized pension settlement-related charges of $12.6 million during the year ended December 31, 2022.

#### Additional Information
|                                                                                           |     | Pension Benefits