BWX (BWXT) 10-Q 7 Nov 22 2022 Q3 Quarterly report Financial data

Cover page

Cover page - shares	9 Months Ended
	Sep. 30, 2022	Nov. 03, 2022
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2022
Document Transition Report	false
Entity File Number	001-34658
Entity Registrant Name	BWX TECHNOLOGIES, INC.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	80-0558025
Entity Address, Address Line One	800 Main Street, 4th Floor
Entity Address, City or Town	Lynchburg,
Entity Address, State or Province	VA
Entity Address, Postal Zip Code	24504
City Area Code	980
Local Phone Number	365-4300
Title of 12(b) Security	Common Stock, $0.01 par value
Trading Symbol	BWXT
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding (in shares)		91,222,288
Amendment Flag	false
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q3
Entity Central Index Key	0001486957
Current Fiscal Year End Date	--12-31

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Current Assets:
Cash and cash equivalents	$ 51,400	$ 33,891
Restricted cash and cash equivalents	2,908	2,896
Investments	3,820	3,811
Accounts receivable – trade, net	72,404	70,663
Accounts receivable – other	34,145	16,651
Retainages	76,193	51,507
Contracts in progress	545,517	546,595
Other current assets	63,317	47,718
Total Current Assets	849,704	773,732
Property, Plant and Equipment, Net	1,083,436	1,045,640
Investments	7,769	9,558
Goodwill	289,962	285,502
Deferred Income Taxes	20,458	21,394
Investments in Unconsolidated Affiliates	107,430	85,284
Intangible Assets	192,898	185,551
Other Assets	120,401	94,719
TOTAL	2,672,058	2,501,380
Current Liabilities:
Accounts payable	146,543	189,842
Accrued employee benefits	75,114	71,835
Accrued liabilities – other	80,749	80,998
Advance billings on contracts	98,545	111,619
Accrued warranty expense	5,846	5,321
Total Current Liabilities	406,797	459,615
Long-Term Debt	1,340,722	1,189,304
Accumulated Postretirement Benefit Obligation	21,553	24,333
Environmental Liabilities	94,414	92,642
Pension Liability	48,018	59,388
Other Liabilities	47,618	38,863
Commitments and Contingencies (Note 5)
Stockholders' Equity:
Common stock, par value $0.01 per share, authorized 325,000,000 shares; issued 127,638,048 and 127,311,985 shares at September 30, 2022 and December 31, 2021, respectively	1,276	1,273
Preferred stock, par value $0.01 per share, authorized 75,000,000 shares; No shares issued	0	0
Capital in excess of par value	186,790	174,288
Retained earnings	1,910,197	1,775,751
Treasury stock at cost, 36,420,960 and 35,915,747 shares at September 30, 2022 and December 31, 2021, respectively	(1,353,269)	(1,326,280)
Accumulated other comprehensive income (loss)	(32,280)	12,143
Stockholders' Equity – BWX Technologies, Inc.	712,714	637,175
Noncontrolling interest	222	60
Total Stockholders' Equity	712,936	637,235
TOTAL	$ 2,672,058	$ 2,501,380

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares	Sep. 30, 2022	Dec. 31, 2021
Statement of Financial Position [Abstract]
Common stock, par value (in usd per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	325,000,000	325,000,000
Common stock, shares issued (in shares)	127,638,048	127,311,985
Preferred stock, par value (in usd per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized (in shares)	75,000,000	75,000,000
Preferred stock, shares issued (in shares)	0	0
Treasury stock at cost, shares (in shares)	36,420,960	35,915,747

Condensed Consolidated Statemen

Condensed Consolidated Statements of Income - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Income Statement [Abstract]
Revenues	$ 523,711	$ 498,727	$ 1,608,657	$ 1,532,099
Costs and Expenses:
Cost of operations	399,281	361,530	1,217,108	1,130,153
Research and development costs	1,426	2,870	6,990	9,491
Losses (gains) on asset disposals and impairments, net	(251)	(981)	(222)	(1,018)
Selling, general and administrative expenses	58,160	58,458	172,974	176,037
Total Costs and Expenses	458,616	421,877	1,396,850	1,314,663
Equity in Income of Investees	14,783	10,618	34,881	26,197
Operating Income	79,878	87,468	246,688	243,633
Other Income (Expense):
Interest income	273	160	463	369
Interest expense	(9,625)	(11,483)	(24,983)	(28,725)
Other – net	11,496	1,624	35,401	33,316
Total Other Income (Expense)	2,144	(9,699)	10,881	4,960
Income before Provision for Income Taxes	82,022	77,769	257,569	248,593
Provision for Income Taxes	20,185	17,611	61,977	59,211
Net Income	61,837	60,158	195,592	189,382
Net Income Attributable to Noncontrolling Interest	(234)	(244)	(366)	(372)
Net Income Attributable to BWX Technologies, Inc.	$ 61,603	$ 59,914	$ 195,226	$ 189,010
Basic:
Net Income Attributable to BWX Technologies, Inc. (in usd per share)	$ 0.67	$ 0.64	$ 2.13	$ 1.99
Diluted:
Net Income Attributable to BWX Technologies, Inc. (in usd per share)	$ 0.67	$ 0.63	$ 2.13	$ 1.99
Shares used in the computation of earnings per share (Note 9):
Basic (in shares)	91,407,599	94,277,253	91,455,350	94,978,638
Diluted (in shares)	91,655,536	94,483,975	91,665,383	95,190,676

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Statement of Comprehensive Income [Abstract]
Net Income	$ 61,837	$ 60,158	$ 195,592	$ 189,382
Other Comprehensive Income (Loss):
Currency translation adjustments	(36,906)	(10,605)	(46,822)	4,616
Derivative financial instruments:
Unrealized gains (losses) arising during the period, net of tax (provision) benefit of $(177), $43, $(7) and $167, respectively	515	(119)	19	(491)
Reclassification adjustment for losses included in net income, net of tax benefit of $(74), $(61), $(178) and $(60), respectively	220	181	520	178
Amortization of benefit plan costs, net of tax benefit of $(163), $(153), $(488) and $(468), respectively	650	561	1,952	1,721
Unrealized (losses) gains on investments arising during the period, net of tax benefit of $5, $0, $24 and $60, respectively	(20)	0	(92)	89
Other Comprehensive Income (Loss)	(35,541)	(9,982)	(44,423)	6,113
Total Comprehensive Income	26,296	50,176	151,169	195,495
Comprehensive Income Attributable to Noncontrolling Interest	(234)	(244)	(366)	(372)
Comprehensive Income Attributable to BWX Technologies, Inc.	$ 26,062	$ 49,932	$ 150,803	$ 195,123

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Comprehensive Income (Parenthetical) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Statement of Comprehensive Income [Abstract]
Tax benefit (provision) on derivative financial instruments, unrealized losses	$ (177)	$ 43	$ (7)	$ 167
Tax provision (benefit) on derivative financial instruments for reclassification adjustments included in net income	(74)	(61)	(178)	(60)
Tax benefit for amortization of benefit plans	(163)	(153)	(488)	(468)
Tax provision on unrealized gains (losses) on investments	$ 5	$ 0	$ 24	$ 60

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Stockholders' Equity - USD ($) $ in Thousands	Total	Stockholders' Equity	Common Stock	Capital In Excess of Par Value	Retained Earnings	Accumulated Other Comprehensive Income (Loss)	Treasury Stock	Noncontrolling Interest
Beginning balance (in shares) at Dec. 31, 2020			127,009,536
Beginning balance at Dec. 31, 2020	$ 617,768	$ 617,766	$ 1,270	$ 153,800	$ 1,549,950	$ 8,198	$ (1,095,452)	$ 2
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net Income	69,815	69,749			69,749			66
Dividends declared	(20,173)	(20,173)			(20,173)
Currency translation adjustments	8,001	8,001				8,001
Derivative financial instruments	(578)	(578)				(578)
Defined benefit obligations	580	580				580
Available-for-sale investments	89	89				89
Exercises of stock options (in shares)			61,260
Exercises of stock options	1,517	1,517		1,517
Shares placed in treasury	(24,694)	(24,694)					(24,694)
Stock-based compensation charges (in shares)			191,350
Stock-based compensation charges	3,981	3,981	$ 3	3,978
Ending balance (in shares) at Mar. 31, 2021			127,262,146
Ending balance at Mar. 31, 2021	656,306	656,238	$ 1,273	159,295	1,599,526	16,290	(1,120,146)	68
Beginning balance (in shares) at Dec. 31, 2020			127,009,536
Beginning balance at Dec. 31, 2020	617,768	617,766	$ 1,270	153,800	1,549,950	8,198	(1,095,452)	2
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net Income	189,382
Currency translation adjustments	4,616
Ending balance (in shares) at Sep. 30, 2021			127,303,992
Ending balance at Sep. 30, 2021	578,574	578,315	$ 1,273	170,514	1,678,478	14,311	(1,286,261)	259
Beginning balance (in shares) at Mar. 31, 2021			127,262,146
Beginning balance at Mar. 31, 2021	656,306	656,238	$ 1,273	159,295	1,599,526	16,290	(1,120,146)	68
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net Income	59,409	59,347			59,347			62
Dividends declared	(20,164)	(20,164)			(20,164)
Currency translation adjustments	7,220	7,220				7,220
Derivative financial instruments	203	203				203
Defined benefit obligations	580	580				580
Exercises of stock options (in shares)			13,936
Exercises of stock options	339	339		339
Shares placed in treasury	(58)	(58)					(58)
Stock-based compensation charges (in shares)			11,597
Stock-based compensation charges	5,292	5,292		5,292
Distributions to noncontrolling interests	(40)							(40)
Ending balance (in shares) at Jun. 30, 2021			127,287,679
Ending balance at Jun. 30, 2021	709,087	708,997	$ 1,273	164,926	1,638,709	24,293	(1,120,204)	90
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net Income	60,158	59,914			59,914			244
Dividends declared	(20,145)	(20,145)			(20,145)
Currency translation adjustments	(10,605)	(10,605)				(10,605)
Derivative financial instruments	62	62				62
Defined benefit obligations	561	561				561
Shares placed in treasury	(166,057)	(166,057)					(166,057)
Stock-based compensation charges (in shares)			16,313
Stock-based compensation charges	5,588	5,588	$ 0	5,588
Distributions to noncontrolling interests	(75)							(75)
Ending balance (in shares) at Sep. 30, 2021			127,303,992
Ending balance at Sep. 30, 2021	$ 578,574	578,315	$ 1,273	170,514	1,678,478	14,311	(1,286,261)	259
Beginning balance (in shares) at Dec. 31, 2021	127,311,985		127,311,985
Beginning balance at Dec. 31, 2021	$ 637,235	637,175	$ 1,273	174,288	1,775,751	12,143	(1,326,280)	60
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net Income	59,074	59,010			59,010			64
Dividends declared	(20,279)	(20,279)			(20,279)
Currency translation adjustments	5,365	5,365				5,365
Derivative financial instruments	44	44				44
Defined benefit obligations	651	651				651
Available-for-sale investments	(24)	(24)				(24)
Shares placed in treasury	(26,011)	(26,011)					(26,011)
Stock-based compensation charges (in shares)			279,242
Stock-based compensation charges	3,958	3,958	$ 3	3,955
Distributions to noncontrolling interests	(59)							(59)
Ending balance (in shares) at Mar. 31, 2022			127,591,227
Ending balance at Mar. 31, 2022	$ 659,954	659,889	$ 1,276	178,243	1,814,482	18,179	(1,352,291)	65
Beginning balance (in shares) at Dec. 31, 2021	127,311,985		127,311,985
Beginning balance at Dec. 31, 2021	$ 637,235	637,175	$ 1,273	174,288	1,775,751	12,143	(1,326,280)	60
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net Income	195,592
Currency translation adjustments	$ (46,822)
Ending balance (in shares) at Sep. 30, 2022	127,638,048		127,638,048
Ending balance at Sep. 30, 2022	$ 712,936	712,714	$ 1,276	186,790	1,910,197	(32,280)	(1,353,269)	222
Beginning balance (in shares) at Mar. 31, 2022			127,591,227
Beginning balance at Mar. 31, 2022	659,954	659,889	$ 1,276	178,243	1,814,482	18,179	(1,352,291)	65
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net Income	74,681	74,613			74,613			68
Dividends declared	(20,273)	(20,273)			(20,273)
Currency translation adjustments	(15,281)	(15,281)				(15,281)
Derivative financial instruments	(240)	(240)				(240)
Defined benefit obligations	651	651				651
Available-for-sale investments	(48)	(48)				(48)
Exercises of stock options	458	458		458
Shares placed in treasury	(33)	(33)					(33)
Stock-based compensation charges (in shares)			13,643
Stock-based compensation charges	5,008	5,008		5,008
Distributions to noncontrolling interests	(69)							(69)
Ending balance (in shares) at Jun. 30, 2022			127,604,870
Ending balance at Jun. 30, 2022	704,350	704,286	$ 1,276	183,251	1,868,822	3,261	(1,352,324)	64
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net Income	61,837	61,603			61,603			234
Dividends declared	(20,228)	(20,228)			(20,228)
Currency translation adjustments	(36,906)	(36,906)				(36,906)
Derivative financial instruments	735	735				735
Defined benefit obligations	650	650				650
Available-for-sale investments	(20)	(20)				(20)
Exercises of stock options (in shares)			19,345
Shares placed in treasury	(945)	(945)					(945)
Stock-based compensation charges (in shares)			13,833
Stock-based compensation charges	3,081	3,081		3,081
Distributions to noncontrolling interests	$ (76)							(76)
Ending balance (in shares) at Sep. 30, 2022	127,638,048		127,638,048
Ending balance at Sep. 30, 2022	$ 712,936	$ 712,714	$ 1,276	$ 186,790	$ 1,910,197	$ (32,280)	$ (1,353,269)	$ 222

Condensed Consolidated Statem_5

Condensed Consolidated Statements of Stockholders' Equity (Parenthetical) - $ / shares	3 Months Ended
	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021
Statement of Stockholders' Equity [Abstract]
Dividends declared per share (in usd per share)	$ 0.22	$ 0.22	$ 0.22	$ 0.21	$ 0.21	$ 0.21

Condensed Consolidated Statem_6

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
CASH FLOWS FROM OPERATING ACTIVITIES:
Net Income	$ 195,592	$ 189,382
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	54,808	50,476
Income of investees, net of dividends	(10,733)	(12,375)
Recognition of losses for pension and postretirement plans	2,441	2,189
Premium for early redemption of senior notes	0	10,752
Recognition of debt issuance costs from former debt instruments	0	4,212
Stock-based compensation expense	12,047	14,861
Other, net	1,966	1,039
Changes in assets and liabilities, net of effects from acquisitions:
Accounts receivable	10,518	99,604
Accounts payable	(17,996)	(20,787)
Retainages	(24,684)	(14,780)
Contracts in progress and advance billings on contracts	(42,824)	(71,020)
Income taxes	(4,019)	15,723
Accrued and other current liabilities	(8,487)	1,922
Pension liabilities, accrued postretirement benefit obligations and employee benefits	(34,994)	(53,430)
Other, net	3,400	7,810
NET CASH PROVIDED BY OPERATING ACTIVITIES	137,035	225,578
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchases of property, plant and equipment	(134,591)	(236,656)
Acquisition of business, net of cash acquired	(47,328)	0
Purchases of securities	(2,700)	(3,560)
Sales and maturities of securities	2,667	3,417
Investments, net of return of capital, in equity method investees	(11,450)	0
Other, net	324	2,718
NET CASH USED IN INVESTING ACTIVITIES	(193,078)	(234,081)
CASH FLOWS FROM FINANCING ACTIVITIES:
Borrowings of long-term debt	373,700	1,215,800
Repayments of long-term debt	(223,700)	(825,800)
Premium for early redemption of senior notes	0	(10,752)
Payment of debt issuance costs	0	(4,838)
Repayment of bank overdraft	0	(88,694)
Repurchases of common stock	(20,000)	(185,778)
Dividends paid to common shareholders	(60,894)	(60,277)
Exercises of stock options	57	2,011
Cash paid for shares withheld to satisfy employee taxes	(6,588)	(5,031)
Settlements of forward contracts, net	13,917	(1,167)
Other	(204)	(115)
NET CASH PROVIDED BY FINANCING ACTIVITIES	76,288	35,359
EFFECTS OF EXCHANGE RATE CHANGES ON CASH	(3,093)	155
TOTAL INCREASE IN CASH AND CASH EQUIVALENTS AND RESTRICTED CASH AND CASH EQUIVALENTS	17,152	27,011
CASH AND CASH EQUIVALENTS AND RESTRICTED CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD	39,775	48,298
CASH AND CASH EQUIVALENTS AND RESTRICTED CASH AND CASH EQUIVALENTS AT END OF PERIOD	56,927	75,309
Cash paid during the period for:
Interest	26,809	32,209
Income taxes (net of refunds)	67,555	43,236
SCHEDULE OF NON-CASH INVESTING ACTIVITY:
Accrued capital expenditures included in accounts payable	$ 7,427	$ 25,106

Basis of Presentation and Signi

Basis of Presentation and Significant Accounting Policies	9 Months Ended
	Sep. 30, 2022
Accounting Policies [Abstract]
Basis of Presentation and Significant Accounting Policies	BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES We have presented the condensed consolidated financial statements of BWX Technologies, Inc. ("BWXT" or the "Company") in U.S. dollars in accordance with the interim reporting requirements of Form 10-Q, Rule 10-01 of Regulation S-X and accounting principles generally accepted in the United States ("GAAP"). Certain financial information and disclosures normally included in our financial statements prepared annually in accordance with GAAP have been condensed or omitted. Readers of these financial statements should, therefore, refer to the consolidated financial statements and notes in our annual report on Form 10-K for the year ended December 31, 2021 (our "2021 10-K"). We have included all adjustments, in the opinion of management, consisting only of normal recurring adjustments, necessary for a fair presentation. We use the equity method to account for investments in entities that we do not control, but over which we have the ability to exercise significant influence. We generally refer to these entities as "joint ventures." We have eliminated all intercompany transactions and accounts. We have reclassified certain amounts previously reported in our condensed consolidated statements of cash flows to conform to the presentation for the nine months ended September 30, 2022. We classify assets and liabilities related to long-term contracts as current using the duration of the related contract or program as our operating cycle, which is generally longer than one year. We present the notes to our condensed consolidated financial statements on the basis of continuing operations, unless otherwise stated. Unless the context otherwise indicates, "we," "us" and "our" mean BWXT and its consolidated subsidiaries. Reportable Segments We operate in two reportable segments: Government Operations and Commercial Operations. Our reportable segments reflect changes we made during the first quarter of 2022 to better align our businesses by their government and commercial nature, which reflects the manner in which our operating segment information is reported for purposes of assessing operating performance and allocating resources. Prior to 2022, we reported three segments: Nuclear Operations Group, Nuclear Power Group and Nuclear Services Group. Our Government Operations segment consists of our legacy Nuclear Operations Group and Nuclear Services Group segments with certain research and development activities in the areas of advanced reactors and advanced manufacturing. Our Commercial Operations segment consists of our legacy Nuclear Power Group segment with certain research and development and commercialization activities in the areas of medical and industrial radioisotopes. Both segments now include research and development and certain commercialization activities associated with new technologies previously reported outside of our reportable segments. The change in our reportable segments had no impact on our previously reported consolidated results of operations, financial condition or cash flows. We have applied the change in reportable segments to previously reported historical financial information and related disclosures included in this quarterly report on Form 10-Q. Our reportable segments are further described as follows: • Our Government Operations segment manufactures naval nuclear reactors, including the related nuclear fuel, for the U.S. Naval Nuclear Propulsion Program for use in submarines and aircraft carriers. Through this segment, we also fabricate fuel-bearing precision components that range in weight from a few grams to hundreds of tons, manufacture electro-mechanical equipment, perform design, manufacturing, inspection, assembly and testing activities and downblend Cold War-era government stockpiles of high-enriched uranium. In addition, we supply proprietary and sole-source valves, manifolds and fittings to global naval and ship customers. In-house capabilities also include wet chemistry uranium processing, advanced heat treatment to optimize component material properties and a controlled, clean-room environment with the capacity to assemble railcar-size components. This segment also provides various other services, primarily through joint ventures, to the U.S. Government including nuclear materials management and operation, environmental management and administrative and operating services for various U.S. Government-owned facilities. These services are provided to the U.S. Department of Energy ("DOE"), including the National Nuclear Security Administration, the Office of Nuclear Energy, the Office of Science and the Office of Environmental Management, and NASA. In addition, this segment also develops technology for a variety of applications, including advanced nuclear power sources, and offers complete advanced nuclear fuel and reactor design and engineering, licensing and manufacturing services for new advanced nuclear reactors. • Our Commercial Operations segment fabricates commercial nuclear steam generators, nuclear fuel, fuel handling systems, pressure vessels, reactor components, heat exchangers, tooling delivery systems and other auxiliary equipment, including containers for the storage of spent nuclear fuel and other high-level waste and supplies nuclear-grade materials and precisely machined components for nuclear utility customers. We have supplied the nuclear industry with more than 1,300 large, heavy components worldwide, and we are the only commercial heavy nuclear component manufacturer in North America. This segment also provides specialized engineering services that include structural component design, 3-D thermal-hydraulic engineering analysis, weld and robotic process development, electrical and controls engineering and metallurgy and materials engineering. In addition, this segment offers in-plant inspection, maintenance and modification services for nuclear steam generators, heat exchangers, reactors, fuel handling systems and balance of plant equipment, as well as specialized non-destructive examination and tooling/repair solutions. This segment is also a global manufacturer and supplier of critical medical radioisotopes and radiopharmaceuticals for research, diagnostic and therapeutic uses. See Note 8 and Note 3 for financial information about our segments. Operating results for the three and nine months ended September 30, 2022 are not necessarily indicative of the results that may be expected for the year ending December 31, 2022. For further information, refer to the consolidated financial statements and notes included in our 2021 10-K. Recently Adopted Accounting Standards There were no accounting standards adopted during the nine months ended September 30, 2022. Contracts and Revenue Recognition We generally recognize contract revenues and related costs over time for individual performance obligations based on a cost-to-cost method in accordance with FASB Topic Revenue from Contracts with Customers . We recognize estimated contract revenue and resulting income based on the measurement of the extent of progress toward completion as a percentage of the total project. Certain costs may be excluded from the cost-to-cost method of measuring progress, such as significant costs for uninstalled materials, if such costs do not depict our performance in transferring control of goods or services to the customer. We review contract price and cost estimates periodically as the work progresses and reflect adjustments proportionate to the percentage-of-completion in income in the period when those estimates are revised. Certain of our contracts recognize revenue at a point in time, and revenue on these contracts is recognized when control transfers to the customer. The majority of our revenue that is recognized at a point in time is related to parts and certain medical radioisotopes and radiopharmaceuticals in our Commercial Operations segment. For all contracts, if a current estimate of total contract cost indicates a loss on a contract, the projected loss is recognized in full when determined. Provision for Income Taxes We are subject to federal income tax in the U.S., Canada and the United Kingdom as well as income tax within multiple U.S. state jurisdictions. We provide for income taxes based on the enacted tax laws and rates in the jurisdictions in which we conduct our operations. These jurisdictions may have regimes of taxation that vary with respect to nominal rates and with respect to the basis on which these rates are applied. This variation, along with the changes in our mix of income within these jurisdictions, can contribute to shifts in our effective tax rate from period to period. Our effective tax rate for the three months ended September 30, 2022 was 24.6% as compared to 22.6% for the three months ended September 30, 2021. Our effective tax rate for the nine months ended September 30, 2022 was 24.1% as compared to 23.8% for the nine months ended September 30, 2021. The effective tax rates for the three and nine months ended September 30, 2022 and 2021 were higher than the U.S. corporate income tax rate of 21% primarily due to state income taxes within the U.S. and the unfavorable rate differential associated with our Canadian earnings. Cash and Cash Equivalents and Restricted Cash and Cash Equivalents At September 30, 2022, we had restricted cash and cash equivalents totaling $5.5 million, $2.6 million of which was held for future decommissioning of facilities (which is included in Other Assets on our condensed consolidated balance sheets) and $2.9 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 statement of cash flows: September 30, December 31, (In thousands) Cash and cash equivalents $ 51,400 $ 33,891 Restricted cash and cash equivalents 2,908 2,896 Restricted cash and cash equivalents included in Other Assets 2,619 2,988 Total cash and cash equivalents and restricted cash and cash equivalents as presented on our condensed consolidated statement of cash flows $ 56,927 $ 39,775 Inventories At September 30, 2022 and December 31, 2021, Other current assets included inventories totaling $31.8 million and $16.3 million, respectively, consisting entirely of raw materials and supplies. Property, Plant and Equipment, Net Property, plant and equipment, net is stated at cost and is set forth below: September 30, December 31, (In thousands) Land $ 9,839 $ 9,538 Buildings 347,438 321,872 Machinery and equipment 1,007,852 957,423 Property under construction 484,023 487,856 1,849,152 1,776,689 Less: Accumulated depreciation 765,716 731,049 Property, Plant and Equipment, Net $ 1,083,436 $ 1,045,640 Accumulated Other Comprehensive Income (Loss) The components of Accumulated other comprehensive income (loss) included in Stockholders' Equity are as follows: September 30, December 31, (In thousands) Currency translation adjustments $ (16,195) $ 30,627 Net unrealized loss on derivative financial instruments (155) (694) Unrecognized prior service cost on benefit obligations (16,070) (18,022) Net unrealized gain on available-for-sale investments 140 232 Accumulated other comprehensive income (loss) $ (32,280) $ 12,143 The amounts reclassified out of Accumulated other comprehensive income (loss) by component and the affected condensed consolidated statements of income line items are as follows: Three Months Ended Nine Months Ended 2022 2021 2022 2021 Accumulated Other Comprehensive Income (Loss) Component Recognized (In thousands) Line Item Presented Realized gain (loss) on derivative financial instruments $ (152) $ 194 $ (86) $ 326 Revenues (142) (436) (612) (564) Cost of operations (294) (242) (698) (238) Total before tax 74 61 178 60 Provision for Income Taxes $ (220) $ (181) $ (520) $ (178) Net Income Amortization of prior service cost on benefit obligations $ (813) $ (714) $ (2,440) $ (2,189) Other – net 163 153 488 468 Provision for Income Taxes $ (650) $ (561) $ (1,952) $ (1,721) Net Income Total reclassification for the period $ (870) $ (742) $ (2,472) $ (1,899) Derivative Financial Instruments Our operations give rise to exposure to market risks from changes in foreign currency exchange ("FX") rates. We use derivative financial instruments, primarily FX forward contracts, to reduce the impact of changes in FX rates on our operating results. We use these instruments to hedge our exposure associated with revenues or costs on our long-term contracts and other transactions that are denominated in currencies other than our operating entities' functional currencies. We do not hold or issue derivative financial instruments for trading or other speculative purposes. We enter into derivative financial instruments primarily as hedges of certain firm purchase and sale commitments and loans between domestic and foreign subsidiaries denominated in foreign currencies. We record these contracts at fair value on our condensed consolidated balance sheets. Based on the hedge designation at the inception of the contract, the related gains and losses on these contracts are deferred in stockholders' equity as a component of Accumulated other comprehensive income (loss) until the hedged item is recognized in earnings. The gain or loss on a derivative instrument not designated as a hedging instrument is immediately recognized in earnings. Gains and losses on derivative financial instruments that require immediate recognition are included as a component of Other – net on our condensed consolidated statements of income. We have designated the majority of our FX forward contracts that qualify for hedge accounting as cash flow hedges. The hedged risk is the risk of changes in functional-currency-equivalent cash flows attributable to changes in FX spot rates of forecasted transactions primarily related to long-term contracts. We exclude from our assessment of effectiveness the portion of the fair value of the FX forward contracts attributable to the difference between FX spot rates and FX forward rates. At September 30, 2022, we had deferred approximately $0.2 million of net losses on these derivative financial instruments. Assuming market conditions continue, we expect to recognize the majority of this amount in the next 12 months. For the three months ended September 30, 2022 and 2021, we recognized (gains) of $(36.6) million and $(7.8) million, respectively, and for the nine months ended September 30, 2022 and 2021, we recognized (gains) losses of $(36.2) million and $0.9 million, respectively, in Other – net on our condensed consolidated statements of income associated with FX forward contracts not designated as hedging instruments. At September 30, 2022, our derivative financial instruments consisted of FX forward contracts with a total notional value of $442.4 million with maturities extending to December 2024. These instruments consist primarily of FX forward contracts to purchase or sell Canadian dollars and Euros. We are exposed to credit-related losses in the event of non-performance by counterparties to derivative financial instruments. We attempt to mitigate this risk by using major financial institutions with high credit ratings. Our counterparties to derivative financial instruments have the benefit of the same collateral arrangements and covenants as described under our credit facility.

Acquisitions

Acquisitions	9 Months Ended
	Sep. 30, 2022
Business Combination and Asset Acquisition [Abstract]
Acquisitions	ACQUISITIONS Dynamic Controls Limited and Citadel Capital Corporation On April 11, 2022, our subsidiary BWXT Government Group, Inc. acquired all of the outstanding stock of U.K.-based Dynamic Controls Limited ("Dynamic") and U.S.-based Citadel Capital Corporation, along with its wholly-owned subsidiary, Cunico Corporation ("Cunico"), for approximately $49.9 million. Our preliminary purchase price allocation resulted in the recognition of $28.5 million of Intangible Assets, $8.4 million of inventory and $16.6 million of Goodwill, which includes an adjustment to our initial purchase price allocation of $(1.1) million to intangible assets with an offsetting increase to goodwill. In addition, we recognized right-of-use assets and lease liabilities of $7.2 million. The assets acquired and liabilities assumed have been recorded at preliminary estimates of fair value as determined by management, based on information currently available and on current assumptions of future operations, and are subject to change upon completion of acquisition accounting. Dynamic and Cunico are suppliers of highly-engineered, proprietary valves, manifolds and fittings for global naval nuclear and diesel-electric submarines, surface warfare ships and commercial shipping vessels. These companies are reported as part of our Government Operations segment. The intangible assets included above consist of the following (dollar amounts in thousands): Amount Amortization Period Customer relationships $ 17,700 21 years Backlog $ 6,600 5 years Unpatented technology $ 4,200 8 years

Revenue Recognition

Revenue Recognition	9 Months Ended
	Sep. 30, 2022
Revenue from Contract with Customer [Abstract]
Revenue Recognition	REVENUE RECOGNITION As described in Note 1, our operations are assessed based on two reportable segments. In connection with our segment reporting change, we have revised historical amounts to conform to current segment presentation. Disaggregated Revenues Revenues by geographic area and customer type were as follows: Three Months Ended September 30, 2022 Three Months Ended September 30, 2021 Government Operations Commercial Operations Total Government Operations Commercial Operations Total (In thousands) United States: Government $ 402,300 $ — $ 402,300 $ 388,931 $ — $ 388,931 Non-Government 16,753 7,700 24,453 26,313 11,493 37,806 $ 419,053 $ 7,700 $ 426,753 $ 415,244 $ 11,493 $ 426,737 Canada: Non-Government $ 658 $ 90,143 $ 90,801 $ 887 $ 69,285 $ 70,172 Other: Government $ 346 $ — $ 346 $ — $ — $ — Non-Government 2,464 3,951 6,415 1,008 2,604 3,612 $ 2,810 $ 3,951 $ 6,761 $ 1,008 $ 2,604 $ 3,612 Segment Revenues $ 422,521 $ 101,794 524,315 $ 417,139 $ 83,382 500,521 Eliminations (604) (1,794) Revenues $ 523,711 $ 498,727 Nine Months Ended September 30, 2022 Nine Months Ended September 30, 2021 Government Operations Commercial Operations Total Government Operations Commercial Operations Total (In thousands) United States: Government $ 1,219,340 $ — $ 1,219,340 $ 1,171,584 $ — $ 1,171,584 Non-Government 62,547 23,770 86,317 67,242 33,253 100,495 $ 1,281,887 $ 23,770 $ 1,305,657 $ 1,238,826 $ 33,253 $ 1,272,079 Canada: Non-Government $ 2,477 $ 283,298 $ 285,775 $ 2,541 $ 245,216 $ 247,757 Other: Government $ 1,071 $ — $ 1,071 $ — $ — $ — Non-Government 5,400 13,198 18,598 4,544 14,153 18,697 $ 6,471 $ 13,198 $ 19,669 $ 4,544 $ 14,153 $ 18,697 Segment Revenues $ 1,290,835 $ 320,266 1,611,101 $ 1,245,911 $ 292,622 1,538,533 Eliminations (2,444) (6,434) Revenues $ 1,608,657 $ 1,532,099 Revenues by timing of transfer of goods or services were as follows: Three Months Ended September 30, 2022 Three Months Ended September 30, 2021 Government Operations Commercial Operations Total Government Operations Commercial Operations Total (In thousands) Over time $ 422,459 $ 87,159 $ 509,618 $ 417,139 $ 68,983 $ 486,122 Point-in-time 62 14,635 14,697 — 14,399 14,399 Segment Revenues $ 422,521 $ 101,794 524,315 $ 417,139 $ 83,382 500,521 Eliminations (604) (1,794) Revenues $ 523,711 $ 498,727 Nine Months Ended September 30, 2022 Nine Months Ended September 30, 2021 Government Operations Commercial Operations Total Government Operations Commercial Operations Total (In thousands) Over time $ 1,290,745 $ 277,654 $ 1,568,399 $ 1,245,797 $ 254,727 $ 1,500,524 Point-in-time 90 42,612 42,702 114 37,895 38,009 Segment Revenues $ 1,290,835 $ 320,266 1,611,101 $ 1,245,911 $ 292,622 1,538,533 Eliminations (2,444) (6,434) Revenues $ 1,608,657 $ 1,532,099 Revenues by contract type were as follows: Three Months Ended September 30, 2022 Three Months Ended September 30, 2021 Government Operations Commercial Operations Total Government Operations Commercial Operations Total (In thousands) Fixed-Price Incentive Fee $ 308,827 $ 2,531 $ 311,358 $ 306,037 $ 3,452 $ 309,489 Firm-Fixed-Price 47,359 69,170 116,529 62,739 69,993 132,732 Cost-Plus Fee 65,679 — 65,679 46,738 — 46,738 Time-and-Materials 656 30,093 30,749 1,625 9,937 11,562 Segment Revenues $ 422,521 $ 101,794 524,315 $ 417,139 $ 83,382 500,521 Eliminations (604) (1,794) Revenues $ 523,711 $ 498,727 Nine Months Ended September 30, 2022 Nine Months Ended September 30, 2021 Government Operations Commercial Operations Total Government Operations Commercial Operations Total (In thousands) Fixed-Price Incentive Fee $ 935,200 $ 7,047 $ 942,247 $ 927,206 $ 7,672 $ 934,878 Firm-Fixed-Price 191,597 222,503 414,100 189,462 213,326 402,788 Cost-Plus Fee 161,167 — 161,167 123,575 — 123,575 Time-and-Materials 2,871 90,716 93,587 5,668 71,624 77,292 Segment Revenues $ 1,290,835 $ 320,266 1,611,101 $ 1,245,911 $ 292,622 1,538,533 Eliminations (2,444) (6,434) Revenues $ 1,608,657 $ 1,532,099 Performance Obligations As we progress on our contracts and the underlying performance obligations for which we recognize revenue over time, we refine our estimates of variable consideration and total estimated costs at completion, which impact the overall profitability on our contracts and performance obligations. Changes in these estimates result in the recognition of cumulative catch-up adjustments that impact our revenues and/or costs of contracts. During the three and nine months ended September 30, 2022, we recognized net changes in estimates related to contracts that recognize revenue over time that resulted in increases in revenues of $4.2 million and $1.1 million, respectively. During the nine months ended September 30, 2022, we recognized an increase in cost of operations of $2.2 million. Included in these amounts are contract adjustments for cost overruns related to the manufacture of non-nuclear components being produced within our Government Operations segment. We recognized a decrease in operating income of $11.3 million for the nine months ended September 30, 2022, related to this matter. These contract adjustments resulted in decreases in earnings per share of $0.09 for the nine months ended September 30, 2022. We are exploring opportunities for recovery of cost overruns related to this project. During the three and nine months ended September 30, 2021, we recognized net favorable changes in estimates related to contracts that recognize revenue over time that resulted in increases in revenues of $18.1 million and $27.8 million, respectively. Contract Assets and Liabilities We include revenues and related costs incurred, plus accumulated contract costs that exceed amounts invoiced to customers under the terms of the contracts, in Contracts in progress. We include in Advance billings on contracts billings that exceed accumulated contract costs and revenues recognized over time. Amounts that are withheld on our fixed-price incentive fee contracts are classified within Retainages. Certain of these amounts require conditions other than the passage of time to be achieved, with the remaining amounts only requiring the passage of time. Most long-term contracts contain provisions for progress payments. Our unbilled receivables do not contain an allowance for credit losses as we expect to invoice customers and collect all amounts for unbilled receivables. Changes in Contracts in progress and Advance billings on contracts are primarily driven by differences in the timing of revenue recognition and billings to our customers. Our fixed-price incentive fee contracts for our Government Operations segment include provisions that result in an increase in retainages on contracts during the first and third quarters of the year, with larger payments received during the second and fourth quarters. Retainages also vary as a result of timing differences between incurring costs and achieving milestones that allow us to recover these amounts. September 30, December 31, 2022 2021 (In thousands) Included in Contracts in progress: Unbilled receivables $ 523,924 $ 528,644 Retainages $ 76,193 $ 51,507 Included in Other Assets: Retainages $ 1,261 $ 1,271 Advance billings on contracts $ 98,545 $ 111,619 During the three months ended September 30, 2022 and 2021, we recognized $11.2 million and $14.0 million, respectively, of revenues that were in Advance billings on contracts at the beginning of each year. During the nine months ended September 30, 2022 and 2021, we recognized $88.5 million and $67.1 million, respectively, of revenues that were in Advance billings on contracts at the beginning of each year. Remaining Performance Obligations Remaining performance obligations represent the dollar amount of revenue we expect to recognize in the future from performance obligations on contracts previously awarded and in progress. At September 30, 2022, our remaining performance obligations were $4,318.9 million. We expect to recognize approximately 46% of the revenue associated with our remaining performance obligations by the end of 2023, with the remainder to be recognized thereafter.

Pension Plans and Postretiremen

Pension Plans and Postretirement Benefits	9 Months Ended
	Sep. 30, 2022
Retirement Benefits [Abstract]
Pension Plans and Postretirement Benefits	PENSION PLANS AND POSTRETIREMENT BENEFITS We record the service cost component of net periodic benefit cost within Operating income on our condensed consolidated statements of income. For the three months ended September 30, 2022 and 2021, these amounts were $3.1 million and $3.0 million, respectively. For the nine months ended September 30, 2022 and 2021, these amounts were $9.3 million and $9.3 million, respectively. All other components of net periodic benefit cost are included in Other – net within the condensed consolidated statements of income. For the three months ended September 30, 2022 and 2021, these amounts were $(12.6) million and $(13.0) million, respectively. For the nine months ended September 30, 2022 and 2021, these amounts were $(37.8) million and $(40.0) million, respectively. Components of net periodic benefit cost included in net income were as follows: Pension Benefits Other Benefits Three Months Ended Nine Months Ended Three Months Ended Nine Months Ended 2022 2021 2022 2021 2022 2021 2022 2021 (In thousands) Service cost $ 2,945 $ 2,824 $ 8,850 $ 8,753 $ 163 $ 180 $ 494 $ 566 Interest cost 7,825 6,846 23,504 20,381 345 330 1,039 898 Expected return on plan assets (20,863) (20,477) (62,619) (61,339) (738) (437) (2,213) (2,168) Amortization of prior service cost (credit) 807 758 2,421 2,322 7 (44) 20 (133) Net periodic benefit income $ (9,286) $ (10,049) $ (27,844) $ (29,883) $ (223) $ 29 $ (660) $ (837)

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 30, 2022
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	COMMITMENTS AND CONTINGENCIESThere were no material contingencies during the period covered by this Form 10-Q.

Fair Value Measurements

Fair Value Measurements	9 Months Ended
	Sep. 30, 2022
Fair Value Disclosures [Abstract]
Fair Value Measurements	FAIR VALUE MEASUREMENTS Investments The following is a summary of our investments measured at fair value at September 30, 2022: Total Level 1 Level 2 Level 3 Unclassified (In thousands) Equity securities Mutual funds $ 5,968 $ — $ 5,968 $ — $ — Available-for-sale securities U.S. Government and agency securities 3,272 3,272 — — — Corporate bonds 2,304 1,756 548 — — Asset-backed securities and collateralized mortgage obligations 45 — 45 — — Total $ 11,589 $ 5,028 $ 6,561 $ — $ — The following is a summary of our investments measured at fair value at December 31, 2021: Total Level 1 Level 2 Level 3 Unclassified (In thousands) Equity securities Mutual funds $ 7,650 $ — $ 7,650 $ — $ — Available-for-sale securities U.S. Government and agency securities 2,738 2,738 — — — Corporate bonds 2,926 1,852 1,074 — — Asset-backed securities and collateralized mortgage obligations 55 — 55 — — Total $ 13,369 $ 4,590 $ 8,779 $ — $ — We estimate the fair value of investments based on quoted market prices. For investments for which there are no quoted market prices, we derive fair values from available yield curves for investments of similar quality and terms. Derivatives Level 2 derivative assets and liabilities currently consist of FX forward contracts. Where applicable, the value of these derivative assets and liabilities is computed by discounting the projected future cash flow amounts to present value using market-based observable inputs, including FX forward and spot rates, interest rates and counterparty performance risk adjustments. At September 30, 2022 and December 31, 2021, we had FX forward contracts outstanding to purchase or sell foreign currencies, primarily Canadian dollars and Euros, with a total fair value of $18.3 million and $(3.2) million, respectively. Derivative assets and liabilities are included in Accounts receivable – other and Accounts payable, respectively, on our condensed consolidated balance sheets. Other Financial Instruments We used the following methods and assumptions in estimating our fair value disclosures for our other financial instruments, as follows: Cash and cash equivalents and restricted cash and cash equivalents . The carrying amounts that we have reported in the accompanying condensed consolidated balance sheets for Cash and cash equivalents and Restricted cash and cash equivalents approximate their fair values due to their highly liquid nature. Long-term and short-term debt . We base the fair values of debt instruments, including our 4.125% senior notes due 2028 (the "Senior Notes due 2028") and our 4.125% senior notes due 2029 (the "Senior Notes due 2029"), on quoted market prices. Where quoted prices are not available, we base the fair values on the present value of future cash flows discounted at estimated borrowing rates for similar debt instruments or on estimated prices based on current yields for debt issues of similar quality and terms. At September 30, 2022 and December 31, 2021, the fair value of the Senior Notes due 2028 was $351.0 million and $406.3 million, respectively, and the fair value of the Senior Notes due 2029 was $347.7 million and $406.5 million, respectively. The fair value of our remaining debt instruments approximated their carrying values at September 30, 2022 and December 31, 2021.

Stock-Based Compensation

Stock-Based Compensation	9 Months Ended
	Sep. 30, 2022
Share-Based Payment Arrangement [Abstract]
Stock-Based Compensation	STOCK-BASED COMPENSATIONStock-based compensation recognized for all of our plans for the three months ended September 30, 2022 and 2021 totaled $3.2 million and $5.5 million, respectively, with associated tax benefit totaling $0.5 million and $1.0 million, respectively. Stock-based compensation recognized for all of our plans for the nine months ended September 30, 2022 and 2021 totaled $12.4 million and $14.7 million, respectively, with associated tax benefit totaling $2.1 million and $2.5 million, respectively.

Segment Reporting

Segment Reporting	9 Months Ended
	Sep. 30, 2022
Segment Reporting [Abstract]
Segment Reporting	SEGMENT REPORTING As described in Note 1, our operations are assessed based on two reportable segments. In connection with our segment reporting change, we have revised historical amounts to conform to current segment presentation. An analysis of our operations by reportable segment is as follows: Three Months Ended Nine Months Ended 2022 2021 2022 2021 (In thousands) REVENUES: Government Operations $ 422,521 $ 417,139 $ 1,290,835 $ 1,245,911 Commercial Operations 101,794 83,382 320,266 292,622 Eliminations (1) (604) (1,794) (2,444) (6,434) $ 523,711 $ 498,727 $ 1,608,657 $ 1,532,099 (1) Segment revenues are net of the following intersegment transfers: Government Operations Transfers $ (604) $ (1,672) $ (2,378) $ (5,788) Commercial Operations Transfers — (122) (66) (646) $ (604) $ (1,794) $ (2,444) $ (6,434) OPERATING INCOME: Government Operations $ 77,735 $ 87,542 $ 233,749 $ 238,658 Commercial Operations 6,847 4,925 23,673 16,859 $ 84,582 $ 92,467 $ 257,422 $ 255,517 Unallocated Corporate (2) (4,704) (4,999) (10,734) (11,884) Total Operating Income $ 79,878 $ 87,468 $ 246,688 $ 243,633 Other Income (Expense) 2,144 (9,699) 10,881 4,960 Income before Provision for Income Taxes $ 82,022 $ 77,769 $ 257,569 $ 248,593 (2) Unallocated corporate includes general corporate overhead not allocated to segments. September 30, December 31, (In thousands) SEGMENT ASSETS: Government Operations $ 1,526,835 $ 1,430,863 Commercial Operations 998,155 976,382 Total Segment Assets $ 2,524,990 $ 2,407,245 Corporate Assets 147,068 94,135 Total Assets $ 2,672,058 $ 2,501,380

Earnings Per Share

Earnings Per Share	9 Months Ended
	Sep. 30, 2022
Earnings Per Share [Abstract]
Earnings Per Share	EARNINGS PER SHARE The following table sets forth the computation of basic and diluted earnings per share: Three Months Ended Nine Months Ended 2022 2021 2022 2021 (In thousands, except share and per share amounts) Basic: Net Income Attributable to BWX Technologies, Inc. $ 61,603 $ 59,914 $ 195,226 $ 189,010 Weighted-average common shares 91,407,599 94,277,253 91,455,350 94,978,638 Basic earnings per common share $ 0.67 $ 0.64 $ 2.13 $ 1.99 Diluted: Net Income Attributable to BWX Technologies, Inc. $ 61,603 $ 59,914 $ 195,226 $ 189,010 Weighted-average common shares (basic) 91,407,599 94,277,253 91,455,350 94,978,638 Effect of dilutive securities: Stock options, restricted stock units and performance shares (1) 247,937 206,722 210,033 212,038 Adjusted weighted-average common shares 91,655,536 94,483,975 91,665,383 95,190,676 Diluted earnings per common share $ 0.67 $ 0.63 $ 2.13 $ 1.99 (1) At September 30, 2022 and 2021, we excluded 31,507 and 0 shares, respectively, from our diluted share calculation as their effect would have been antidilutive.

Subsequent Event

Subsequent Event	9 Months Ended
	Sep. 30, 2022
Subsequent Events [Abstract]
Subsequent Event	SUBSEQUENT EVENT On October 12, 2022, we entered into an Amended and Restated Credit Agreement (the "New Credit Facility") with Wells Fargo Bank, National Association, as administrative agent, and the other lenders party thereto, which amended and restated our then existing secured credit facility (the "Former Credit Facility"). The New Credit Facility includes a $750 million senior secured revolving credit facility (the "New Revolving Credit Facility") and a $250 million senior secured term A loan (the "New Term Loan"). The New Revolving Credit Facility and the New Term Loan are scheduled to mature on October 12, 2027. All proceeds from the New Term Loan were used to repay outstanding indebtedness under the Former Credit Facility. As of October 12, 2022, outstanding borrowings under the New Credit Facility totaled $570.0 million, comprising $250.0 million under the New Term Loan and $320.0 million under the New Revolving Credit Facility, and letters of credit issued under the New Revolving Credit Facility totaled $37.1 million. As a result, as of October 12, 2022, the Company had $392.9 million available under the New Revolving Credit Facility for borrowings and to meet letter of credit requirements.

Basis of Presentation and Sig_2

Basis of Presentation and Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2022
Accounting Policies [Abstract]
Basis of Presentation	We have presented the condensed consolidated financial statements of BWX Technologies, Inc. ("BWXT" or the "Company") in U.S. dollars in accordance with the interim reporting requirements of Form 10-Q, Rule 10-01 of Regulation S-X and accounting principles generally accepted in the United States ("GAAP"). Certain financial information and disclosures normally included in our financial statements prepared annually in accordance with GAAP have been condensed or omitted. Readers of these financial statements should, therefore, refer to the consolidated financial statements and notes in our annual report on Form 10-K for the year ended December 31, 2021 (our "2021 10-K"). We have included all adjustments, in the opinion of management, consisting only of normal recurring adjustments, necessary for a fair presentation.
Consolidation	We use the equity method to account for investments in entities that we do not control, but over which we have the ability to exercise significant influence. We generally refer to these entities as "joint ventures." We have eliminated all intercompany transactions and accounts. We have reclassified certain amounts previously reported in our condensed consolidated statements of cash flows to conform to the presentation for the nine months ended September 30, 2022. We classify assets and liabilities related to long-term contracts as current using the duration of the related contract or program as our operating cycle, which is generally longer than one year. We present the notes to our condensed consolidated financial statements on the basis of continuing operations, unless otherwise stated. Unless the context otherwise indicates, "we," "us" and "our" mean BWXT and its consolidated subsidiaries.
Reportable Segments	Reportable Segments We operate in two reportable segments: Government Operations and Commercial Operations. Our reportable segments reflect changes we made during the first quarter of 2022 to better align our businesses by their government and commercial nature, which reflects the manner in which our operating segment information is reported for purposes of assessing operating performance and allocating resources. Prior to 2022, we reported three segments: Nuclear Operations Group, Nuclear Power Group and Nuclear Services Group. Our Government Operations segment consists of our legacy Nuclear Operations Group and Nuclear Services Group segments with certain research and development activities in the areas of advanced reactors and advanced manufacturing. Our Commercial Operations segment consists of our legacy Nuclear Power Group segment with certain research and development and commercialization activities in the areas of medical and industrial radioisotopes. Both segments now include research and development and certain commercialization activities associated with new technologies previously reported outside of our reportable segments. The change in our reportable segments had no impact on our previously reported consolidated results of operations, financial condition or cash flows. We have applied the change in reportable segments to previously reported historical financial information and related disclosures included in this quarterly report on Form 10-Q. Our reportable segments are further described as follows: • Our Government Operations segment manufactures naval nuclear reactors, including the related nuclear fuel, for the U.S. Naval Nuclear Propulsion Program for use in submarines and aircraft carriers. Through this segment, we also fabricate fuel-bearing precision components that range in weight from a few grams to hundreds of tons, manufacture electro-mechanical equipment, perform design, manufacturing, inspection, assembly and testing activities and downblend Cold War-era government stockpiles of high-enriched uranium. In addition, we supply proprietary and sole-source valves, manifolds and fittings to global naval and ship customers. In-house capabilities also include wet chemistry uranium processing, advanced heat treatment to optimize component material properties and a controlled, clean-room environment with the capacity to assemble railcar-size components. This segment also provides various other services, primarily through joint ventures, to the U.S. Government including nuclear materials management and operation, environmental management and administrative and operating services for various U.S. Government-owned facilities. These services are provided to the U.S. Department of Energy ("DOE"), including the National Nuclear Security Administration, the Office of Nuclear Energy, the Office of Science and the Office of Environmental Management, and NASA. In addition, this segment also develops technology for a variety of applications, including advanced nuclear power sources, and offers complete advanced nuclear fuel and reactor design and engineering, licensing and manufacturing services for new advanced nuclear reactors. • Our Commercial Operations segment fabricates commercial nuclear steam generators, nuclear fuel, fuel handling systems, pressure vessels, reactor components, heat exchangers, tooling delivery systems and other auxiliary equipment, including containers for the storage of spent nuclear fuel and other high-level waste and supplies nuclear-grade materials and precisely machined components for nuclear utility customers. We have supplied the nuclear industry with more than 1,300 large, heavy components worldwide, and we are the only commercial heavy nuclear component manufacturer in North America. This segment also provides specialized engineering services that include structural component design, 3-D thermal-hydraulic engineering analysis, weld and robotic process development, electrical and controls engineering and metallurgy and materials engineering. In addition, this segment offers in-plant inspection, maintenance and modification services for nuclear steam generators, heat exchangers, reactors, fuel handling systems and balance of plant equipment, as well as specialized non-destructive examination and tooling/repair solutions. This segment is also a global manufacturer and supplier of critical medical radioisotopes and radiopharmaceuticals for research, diagnostic and therapeutic uses.
Recently Adopted Accounting Standards	Recently Adopted Accounting Standards There were no accounting standards adopted during the nine months ended September 30, 2022.
Contracts and Revenue Recognition	Contracts and Revenue Recognition We generally recognize contract revenues and related costs over time for individual performance obligations based on a cost-to-cost method in accordance with FASB Topic Revenue from Contracts with Customers . We recognize estimated contract revenue and resulting income based on the measurement of the extent of progress toward completion as a percentage of the total project. Certain costs may be excluded from the cost-to-cost method of measuring progress, such as significant costs for uninstalled materials, if such costs do not depict our performance in transferring control of goods or services to the customer. We review contract price and cost estimates periodically as the work progresses and reflect adjustments proportionate to the percentage-of-completion in income in the period when those estimates are revised. Certain of our contracts recognize revenue at a point in time, and revenue on these contracts is recognized when control transfers to the customer. The majority of our revenue that is recognized at a point in time is related to parts and certain medical radioisotopes and radiopharmaceuticals in our Commercial Operations segment. For all contracts, if a current estimate of total contract cost indicates a loss on a contract, the projected loss is recognized in full when determined.
Provision for Income Taxes	Provision for Income Taxes We are subject to federal income tax in the U.S., Canada and the United Kingdom as well as income tax within multiple U.S. state jurisdictions. We provide for income taxes based on the enacted tax laws and rates in the jurisdictions in which we conduct our operations. These jurisdictions may have regimes of taxation that vary with respect to nominal rates and with respect to the basis on which these rates are applied. This variation, along with the changes in our mix of income within these jurisdictions, can contribute to shifts in our effective tax rate from period to period.
Cash and Cash Equivalents and Restricted Cash and Cash Equivalents	Cash and Cash Equivalents and Restricted Cash and Cash Equivalents At September 30, 2022, we had restricted cash and cash equivalents totaling $5.5 million, $2.6 million of which was held for future decommissioning of facilities (which is included in Other Assets on our condensed consolidated balance sheets) and $2.9 million of which was held to meet reinsurance reserve requirements of our captive insurer.
Inventories	Inventories At September 30, 2022 and December 31, 2021, Other current assets included inventories totaling $31.8 million and $16.3 million, respectively, consisting entirely of raw materials and supplies.
Derivative Financial Instruments	Derivative Financial Instruments Our operations give rise to exposure to market risks from changes in foreign currency exchange ("FX") rates. We use derivative financial instruments, primarily FX forward contracts, to reduce the impact of changes in FX rates on our operating results. We use these instruments to hedge our exposure associated with revenues or costs on our long-term contracts and other transactions that are denominated in currencies other than our operating entities' functional currencies. We do not hold or issue derivative financial instruments for trading or other speculative purposes. We enter into derivative financial instruments primarily as hedges of certain firm purchase and sale commitments and loans between domestic and foreign subsidiaries denominated in foreign currencies. We record these contracts at fair value on our condensed consolidated balance sheets. Based on the hedge designation at the inception of the contract, the related gains and losses on these contracts are deferred in stockholders' equity as a component of Accumulated other comprehensive income (loss) until the hedged item is recognized in earnings. The gain or loss on a derivative instrument not designated as a hedging instrument is immediately recognized in earnings. Gains and losses on derivative financial instruments that require immediate recognition are included as a component of Other – net on our condensed consolidated statements of income.

Basis of Presentation and Sig_3

Basis of Presentation and Significant Accounting Policies (Tables)	9 Months Ended
	Sep. 30, 2022
Accounting Policies [Abstract]
Cash and Cash Equivalents	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 statement of cash flows: September 30, December 31, (In thousands) Cash and cash equivalents $ 51,400 $ 33,891 Restricted cash and cash equivalents 2,908 2,896 Restricted cash and cash equivalents included in Other Assets 2,619 2,988 Total cash and cash equivalents and restricted cash and cash equivalents as presented on our condensed consolidated statement of cash flows $ 56,927 $ 39,775
Restricted Cash and Cash Equivalents	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 statement of cash flows: September 30, December 31, (In thousands) Cash and cash equivalents $ 51,400 $ 33,891 Restricted cash and cash equivalents 2,908 2,896 Restricted cash and cash equivalents included in Other Assets 2,619 2,988 Total cash and cash equivalents and restricted cash and cash equivalents as presented on our condensed consolidated statement of cash flows $ 56,927 $ 39,775
Property, Plant and Equipment, Net	Property, Plant and Equipment, Net Property, plant and equipment, net is stated at cost and is set forth below: September 30, December 31, (In thousands) Land $ 9,839 $ 9,538 Buildings 347,438 321,872 Machinery and equipment 1,007,852 957,423 Property under construction 484,023 487,856 1,849,152 1,776,689 Less: Accumulated depreciation 765,716 731,049 Property, Plant and Equipment, Net $ 1,083,436 $ 1,045,640
Components of Accumulated Other Comprehensive Income (Loss)	The components of Accumulated other comprehensive income (loss) included in Stockholders' Equity are as follows: September 30, December 31, (In thousands) Currency translation adjustments $ (16,195) $ 30,627 Net unrealized loss on derivative financial instruments (155) (694) Unrecognized prior service cost on benefit obligations (16,070) (18,022) Net unrealized gain on available-for-sale investments 140 232 Accumulated other comprehensive income (loss) $ (32,280) $ 12,143
Schedule of Amounts Reclassified from Accumulated Other Comprehensive Income (Loss)	The amounts reclassified out of Accumulated other comprehensive income (loss) by component and the affected condensed consolidated statements of income line items are as follows: Three Months Ended Nine Months Ended 2022 2021 2022 2021 Accumulated Other Comprehensive Income (Loss) Component Recognized (In thousands) Line Item Presented Realized gain (loss) on derivative financial instruments $ (152) $ 194 $ (86) $ 326 Revenues (142) (436) (612) (564) Cost of operations (294) (242) (698) (238) Total before tax 74 61 178 60 Provision for Income Taxes $ (220) $ (181) $ (520) $ (178) Net Income Amortization of prior service cost on benefit obligations $ (813) $ (714) $ (2,440) $ (2,189) Other – net 163 153 488 468 Provision for Income Taxes $ (650) $ (561) $ (1,952) $ (1,721) Net Income Total reclassification for the period $ (870) $ (742) $ (2,472) $ (1,899)

Acquisitions (Tables)

Acquisitions (Tables)	9 Months Ended
	Sep. 30, 2022
Business Combination and Asset Acquisition [Abstract]
Schedule of Intangible Assets Acquired	The intangible assets included above consist of the following (dollar amounts in thousands): Amount Amortization Period Customer relationships $ 17,700 21 years Backlog $ 6,600 5 years Unpatented technology $ 4,200 8 years

Revenue Recognition (Tables)

Revenue Recognition (Tables)	9 Months Ended
	Sep. 30, 2022
Revenue from Contract with Customer [Abstract]
Schedule of Disaggregated Revenues	Revenues by geographic area and customer type were as follows: Three Months Ended September 30, 2022 Three Months Ended September 30, 2021 Government Operations Commercial Operations Total Government Operations Commercial Operations Total (In thousands) United States: Government $ 402,300 $ — $ 402,300 $ 388,931 $ — $ 388,931 Non-Government 16,753 7,700 24,453 26,313 11,493 37,806 $ 419,053 $ 7,700 $ 426,753 $ 415,244 $ 11,493 $ 426,737 Canada: Non-Government $ 658 $ 90,143 $ 90,801 $ 887 $ 69,285 $ 70,172 Other: Government $ 346 $ — $ 346 $ — $ — $ — Non-Government 2,464 3,951 6,415 1,008 2,604 3,612 $ 2,810 $ 3,951 $ 6,761 $ 1,008 $ 2,604 $ 3,612 Segment Revenues $ 422,521 $ 101,794 524,315 $ 417,139 $ 83,382 500,521 Eliminations (604) (1,794) Revenues $ 523,711 $ 498,727 Nine Months Ended September 30, 2022 Nine Months Ended September 30, 2021 Government Operations Commercial Operations Total Government Operations Commercial Operations Total (In thousands) United States: Government $ 1,219,340 $ — $ 1,219,340 $ 1,171,584 $ — $ 1,171,584 Non-Government 62,547 23,770 86,317 67,242 33,253 100,495 $ 1,281,887 $ 23,770 $ 1,305,657 $ 1,238,826 $ 33,253 $ 1,272,079 Canada: Non-Government $ 2,477 $ 283,298 $ 285,775 $ 2,541 $ 245,216 $ 247,757 Other: Government $ 1,071 $ — $ 1,071 $ — $ — $ — Non-Government 5,400 13,198 18,598 4,544 14,153 18,697 $ 6,471 $ 13,198 $ 19,669 $ 4,544 $ 14,153 $ 18,697 Segment Revenues $ 1,290,835 $ 320,266 1,611,101 $ 1,245,911 $ 292,622 1,538,533 Eliminations (2,444) (6,434) Revenues $ 1,608,657 $ 1,532,099 Revenues by timing of transfer of goods or services were as follows: Three Months Ended September 30, 2022 Three Months Ended September 30, 2021 Government Operations Commercial Operations Total Government Operations Commercial Operations Total (In thousands) Over time $ 422,459 $ 87,159 $ 509,618 $ 417,139 $ 68,983 $ 486,122 Point-in-time 62 14,635 14,697 — 14,399 14,399 Segment Revenues $ 422,521 $ 101,794 524,315 $ 417,139 $ 83,382 500,521 Eliminations (604) (1,794) Revenues $ 523,711 $ 498,727 Nine Months Ended September 30, 2022 Nine Months Ended September 30, 2021 Government Operations Commercial Operations Total Government Operations Commercial Operations Total (In thousands) Over time $ 1,290,745 $ 277,654 $ 1,568,399 $ 1,245,797 $ 254,727 $ 1,500,524 Point-in-time 90 42,612 42,702 114 37,895 38,009 Segment Revenues $ 1,290,835 $ 320,266 1,611,101 $ 1,245,911 $ 292,622 1,538,533 Eliminations (2,444) (6,434) Revenues $ 1,608,657 $ 1,532,099 Revenues by contract type were as follows: Three Months Ended September 30, 2022 Three Months Ended September 30, 2021 Government Operations Commercial Operations Total Government Operations Commercial Operations Total (In thousands) Fixed-Price Incentive Fee $ 308,827 $ 2,531 $ 311,358 $ 306,037 $ 3,452 $ 309,489 Firm-Fixed-Price 47,359 69,170 116,529 62,739 69,993 132,732 Cost-Plus Fee 65,679 — 65,679 46,738 — 46,738 Time-and-Materials 656 30,093 30,749 1,625 9,937 11,562 Segment Revenues $ 422,521 $ 101,794 524,315 $ 417,139 $ 83,382 500,521 Eliminations (604) (1,794) Revenues $ 523,711 $ 498,727 Nine Months Ended September 30, 2022 Nine Months Ended September 30, 2021 Government Operations Commercial Operations Total Government Operations Commercial Operations Total (In thousands) Fixed-Price Incentive Fee $ 935,200 $ 7,047 $ 942,247 $ 927,206 $ 7,672 $ 934,878 Firm-Fixed-Price 191,597 222,503 414,100 189,462 213,326 402,788 Cost-Plus Fee 161,167 — 161,167 123,575 — 123,575 Time-and-Materials 2,871 90,716 93,587 5,668 71,624 77,292 Segment Revenues $ 1,290,835 $ 320,266 1,611,101 $ 1,245,911 $ 292,622 1,538,533 Eliminations (2,444) (6,434) Revenues $ 1,608,657 $ 1,532,099
Schedule of Contract Assets and Liabilities	September 30, December 31, 2022 2021 (In thousands) Included in Contracts in progress: Unbilled receivables $ 523,924 $ 528,644 Retainages $ 76,193 $ 51,507 Included in Other Assets: Retainages $ 1,261 $ 1,271 Advance billings on contracts $ 98,545 $ 111,619

Pension Plans and Postretirem_2

Pension Plans and Postretirement Benefits (Tables)	9 Months Ended
	Sep. 30, 2022
Retirement Benefits [Abstract]
Components of Net Periodic Benefit Cost	Components of net periodic benefit cost included in net income were as follows: Pension Benefits Other Benefits Three Months Ended Nine Months Ended Three Months Ended Nine Months Ended 2022 2021 2022 2021 2022 2021 2022 2021 (In thousands) Service cost $ 2,945 $ 2,824 $ 8,850 $ 8,753 $ 163 $ 180 $ 494 $ 566 Interest cost 7,825 6,846 23,504 20,381 345 330 1,039 898 Expected return on plan assets (20,863) (20,477) (62,619) (61,339) (738) (437) (2,213) (2,168) Amortization of prior service cost (credit) 807 758 2,421 2,322 7 (44) 20 (133) Net periodic benefit income $ (9,286) $ (10,049) $ (27,844) $ (29,883) $ (223) $ 29 $ (660) $ (837)

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	9 Months Ended
	Sep. 30, 2022
Fair Value Disclosures [Abstract]
Summary of Investments Measured at Fair Value	The following is a summary of our investments measured at fair value at September 30, 2022: Total Level 1 Level 2 Level 3 Unclassified (In thousands) Equity securities Mutual funds $ 5,968 $ — $ 5,968 $ — $ — Available-for-sale securities U.S. Government and agency securities 3,272 3,272 — — — Corporate bonds 2,304 1,756 548 — — Asset-backed securities and collateralized mortgage obligations 45 — 45 — — Total $ 11,589 $ 5,028 $ 6,561 $ — $ — The following is a summary of our investments measured at fair value at December 31, 2021: Total Level 1 Level 2 Level 3 Unclassified (In thousands) Equity securities Mutual funds $ 7,650 $ — $ 7,650 $ — $ — Available-for-sale securities U.S. Government and agency securities 2,738 2,738 — — — Corporate bonds 2,926 1,852 1,074 — — Asset-backed securities and collateralized mortgage obligations 55 — 55 — — Total $ 13,369 $ 4,590 $ 8,779 $ — $ —

Segment Reporting (Tables)

Segment Reporting (Tables)	9 Months Ended
	Sep. 30, 2022
Segment Reporting [Abstract]
Schedule of Operating Results by Segment	An analysis of our operations by reportable segment is as follows: Three Months Ended Nine Months Ended 2022 2021 2022 2021 (In thousands) REVENUES: Government Operations $ 422,521 $ 417,139 $ 1,290,835 $ 1,245,911 Commercial Operations 101,794 83,382 320,266 292,622 Eliminations (1) (604) (1,794) (2,444) (6,434) $ 523,711 $ 498,727 $ 1,608,657 $ 1,532,099 (1) Segment revenues are net of the following intersegment transfers: Government Operations Transfers $ (604) $ (1,672) $ (2,378) $ (5,788) Commercial Operations Transfers — (122) (66) (646) $ (604) $ (1,794) $ (2,444) $ (6,434) OPERATING INCOME: Government Operations $ 77,735 $ 87,542 $ 233,749 $ 238,658 Commercial Operations 6,847 4,925 23,673 16,859 $ 84,582 $ 92,467 $ 257,422 $ 255,517 Unallocated Corporate (2) (4,704) (4,999) (10,734) (11,884) Total Operating Income $ 79,878 $ 87,468 $ 246,688 $ 243,633 Other Income (Expense) 2,144 (9,699) 10,881 4,960 Income before Provision for Income Taxes $ 82,022 $ 77,769 $ 257,569 $ 248,593 (2) Unallocated corporate includes general corporate overhead not allocated to segments. September 30, December 31, (In thousands) SEGMENT ASSETS: Government Operations $ 1,526,835 $ 1,430,863 Commercial Operations 998,155 976,382 Total Segment Assets $ 2,524,990 $ 2,407,245 Corporate Assets 147,068 94,135 Total Assets $ 2,672,058 $ 2,501,380

Earnings Per Share (Tables)

Earnings Per Share (Tables)	9 Months Ended
	Sep. 30, 2022
Earnings Per Share [Abstract]
Computation of Basic and Diluted Earnings Per Share	The following table sets forth the computation of basic and diluted earnings per share: Three Months Ended Nine Months Ended 2022 2021 2022 2021 (In thousands, except share and per share amounts) Basic: Net Income Attributable to BWX Technologies, Inc. $ 61,603 $ 59,914 $ 195,226 $ 189,010 Weighted-average common shares 91,407,599 94,277,253 91,455,350 94,978,638 Basic earnings per common share $ 0.67 $ 0.64 $ 2.13 $ 1.99 Diluted: Net Income Attributable to BWX Technologies, Inc. $ 61,603 $ 59,914 $ 195,226 $ 189,010 Weighted-average common shares (basic) 91,407,599 94,277,253 91,455,350 94,978,638 Effect of dilutive securities: Stock options, restricted stock units and performance shares (1) 247,937 206,722 210,033 212,038 Adjusted weighted-average common shares 91,655,536 94,483,975 91,665,383 95,190,676 Diluted earnings per common share $ 0.67 $ 0.63 $ 2.13 $ 1.99 (1) At September 30, 2022 and 2021, we excluded 31,507 and 0 shares, respectively, from our diluted share calculation as their effect would have been antidilutive.

Basis of Presentation and Sig_4

Basis of Presentation and Significant Accounting Policies - Additional Information (Details) $ in Millions	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2022 USD ($)	Sep. 30, 2021 USD ($)	Sep. 30, 2022 USD ($) segment component	Sep. 30, 2021 USD ($)	Dec. 31, 2021 USD ($) segment
Noncash or Part Noncash Divestitures [Line Items]
Number of reportable segments | segment			2		3
Number of components supplied to worldwide (more than) | component			1,300
Effective tax rate	24.60%	22.60%	24.10%	23.80%
Restricted cash and cash equivalents	$ 5.5		$ 5.5
Total inventories	31.8		31.8		$ 16.3
Net losses on foreign exchange forward contracts			0.2
Recognized (gain) loss on FX forward contracts not designated as hedges	(36.6)	$ (7.8)	(36.2)	$ 0.9
Notional amount of foreign currency forward contracts	442.4		442.4
Cash Held for Decommissioning of Facilities
Noncash or Part Noncash Divestitures [Line Items]
Restricted cash and cash equivalents	2.6		2.6
Cash Held to Meet Reinsurance Reserve Requirements
Noncash or Part Noncash Divestitures [Line Items]
Restricted cash and cash equivalents	$ 2.9		$ 2.9

Basis of Presentation and Sig_5

Basis of Presentation and Significant Accounting Policies - Reconciliation of Cash and Cash Equivalents and Restricted Cash and Cash Equivalents (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021	Sep. 30, 2021	Dec. 31, 2020
Accounting Policies [Abstract]
Cash and cash equivalents	$ 51,400	$ 33,891
Restricted cash and cash equivalents	2,908	2,896
Restricted cash and cash equivalents included in Other Assets	2,619	2,988
Total cash and cash equivalents and restricted cash and cash equivalents as presented on our condensed consolidated statement of cash flows	$ 56,927	$ 39,775	$ 75,309	$ 48,298

Basis of Presentation and Sig_6

Basis of Presentation and Significant Accounting Policies - Property, Plant and Equipment (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Property, Plant and Equipment [Line Items]
Property, plant and equipment	$ 1,849,152	$ 1,776,689
Less: Accumulated depreciation	765,716	731,049
Property, Plant and Equipment, Net	1,083,436	1,045,640
Land
Property, Plant and Equipment [Line Items]
Property, plant and equipment	9,839	9,538
Buildings
Property, Plant and Equipment [Line Items]
Property, plant and equipment	347,438	321,872
Machinery and equipment
Property, Plant and Equipment [Line Items]
Property, plant and equipment	1,007,852	957,423
Property under construction
Property, Plant and Equipment [Line Items]
Property, plant and equipment	$ 484,023	$ 487,856

Basis of Presentation and Sig_7

Basis of Presentation and Significant Accounting Policies - Accumulated Other Comprehensive Income (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Dec. 31, 2021	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Dec. 31, 2020
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated other comprehensive income (loss)	$ 712,936	$ 704,350	$ 659,954	$ 637,235	$ 578,574	$ 709,087	$ 656,306	$ 617,768
Currency translation adjustments
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated other comprehensive income (loss)	(16,195)			30,627
Net unrealized loss on derivative financial instruments
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated other comprehensive income (loss)	(155)			(694)
Unrecognized prior service cost on benefit obligations
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated other comprehensive income (loss)	(16,070)			(18,022)
Net unrealized gain on available-for-sale investments
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated other comprehensive income (loss)	140			232
Accumulated Other Comprehensive Income (Loss)
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated other comprehensive income (loss)	$ (32,280)	$ 3,261	$ 18,179	$ 12,143	$ 14,311	$ 24,293	$ 16,290	$ 8,198

Basis of Presentation and Sig_8

Basis of Presentation and Significant Accounting Policies - Schedule of Amounts Reclassified from Accumulated Other Comprehensive Income (Details) - USD ($) $ in Thousands	3 Months Ended						9 Months Ended
	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Sep. 30, 2022	Sep. 30, 2021
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Revenues	$ 523,711			$ 498,727			$ 1,608,657	$ 1,532,099
Cost of operations	(399,281)			(361,530)			(1,217,108)	(1,130,153)
Total before tax	82,022			77,769			257,569	248,593
Provision for Income Taxes	(20,185)			(17,611)			(61,977)	(59,211)
Other – net	11,496			1,624			35,401	33,316
Net Income	61,837	$ 74,681	$ 59,074	60,158	$ 59,409	$ 69,815	195,592	189,382
Accumulated Other Comprehensive Income (Loss) Component Recognized
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Net Income	(870)			(742)			(2,472)	(1,899)
Accumulated Other Comprehensive Income (Loss) Component Recognized | Realized gain (loss) on derivative financial instruments
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Revenues	(152)			194			(86)	326
Cost of operations	(142)			(436)			(612)	(564)
Total before tax	(294)			(242)			(698)	(238)
Provision for Income Taxes	74			61			178	60
Net Income	(220)			(181)			(520)	(178)
Accumulated Other Comprehensive Income (Loss) Component Recognized | Amortization of prior service cost on benefit obligations
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Provision for Income Taxes	163			153			488	468
Other – net	(813)			(714)			(2,440)	(2,189)
Net Income	$ (650)			$ (561)			$ (1,952)	$ (1,721)

Acquisitions - Additional Infor

Acquisitions - Additional Information (Detail) - USD ($) $ in Thousands	Apr. 11, 2022	Sep. 30, 2022	Dec. 31, 2021
Business Acquisition [Line Items]
Goodwill		$ 289,962	$ 285,502
Dynamic Controls Limited and Citadel Capital Corporation
Business Acquisition [Line Items]
Business combination, consideration transferred	$ 49,900
Intangible assets	28,500
Business combination, inventory	8,400
Goodwill	16,600
Operating lease, right-of-use assets	7,200
Operating lease, liability	7,200
Business combination, adjustment, intangibles	(1,100)
Goodwill, purchase accounting adjustments	$ (1,100)

Acquisitions - Intangible Asset

Acquisitions - Intangible Assets Acquired (Detail) - Dynamic Controls Limited and Citadel Capital Corporation $ in Thousands	Apr. 11, 2022 USD ($)
Acquired Finite-Lived Intangible Assets [Line Items]
Amount	$ 28,500
Customer relationships
Acquired Finite-Lived Intangible Assets [Line Items]
Amount	$ 17,700
Amortization Period	21 years
Backlog
Acquired Finite-Lived Intangible Assets [Line Items]
Amount	$ 6,600
Amortization Period	5 years
Unpatented technology
Acquired Finite-Lived Intangible Assets [Line Items]
Amount	$ 4,200
Amortization Period	8 years

Revenue Recognition - Disaggreg

Revenue Recognition - Disaggregated Revenues (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Disaggregation of Revenue [Line Items]
Revenues	$ 523,711	$ 498,727	$ 1,608,657	$ 1,532,099
Fixed-Price Incentive Fee
Disaggregation of Revenue [Line Items]
Revenues	311,358	309,489	942,247	934,878
Firm-Fixed-Price
Disaggregation of Revenue [Line Items]
Revenues	116,529	132,732	414,100	402,788
Cost-Plus Fee
Disaggregation of Revenue [Line Items]
Revenues	65,679	46,738	161,167	123,575
Time-and-Materials
Disaggregation of Revenue [Line Items]
Revenues	30,749	11,562	93,587	77,292
Over time
Disaggregation of Revenue [Line Items]
Revenues	509,618	486,122	1,568,399	1,500,524
Point-in-time
Disaggregation of Revenue [Line Items]
Revenues	14,697	14,399	42,702	38,009
United States:
Disaggregation of Revenue [Line Items]
Revenues	426,753	426,737	1,305,657	1,272,079
United States: | Government
Disaggregation of Revenue [Line Items]
Revenues	402,300	388,931	1,219,340	1,171,584
United States: | Non-Government
Disaggregation of Revenue [Line Items]
Revenues	24,453	37,806	86,317	100,495
Canada: | Non-Government
Disaggregation of Revenue [Line Items]
Revenues	90,801	70,172	285,775	247,757
Other:
Disaggregation of Revenue [Line Items]
Revenues	6,761	3,612	19,669	18,697
Other: | Government
Disaggregation of Revenue [Line Items]
Revenues	346	0	1,071	0
Other: | Non-Government
Disaggregation of Revenue [Line Items]
Revenues	6,415	3,612	18,598	18,697
Operating Segments
Disaggregation of Revenue [Line Items]
Revenues	524,315	500,521	1,611,101	1,538,533
Operating Segments | Government Operations
Disaggregation of Revenue [Line Items]
Revenues	422,521	417,139	1,290,835	1,245,911
Operating Segments | Government Operations | Fixed-Price Incentive Fee
Disaggregation of Revenue [Line Items]
Revenues	308,827	306,037	935,200	927,206
Operating Segments | Government Operations | Firm-Fixed-Price
Disaggregation of Revenue [Line Items]
Revenues	47,359	62,739	191,597	189,462
Operating Segments | Government Operations | Cost-Plus Fee
Disaggregation of Revenue [Line Items]
Revenues	65,679	46,738	161,167	123,575
Operating Segments | Government Operations | Time-and-Materials
Disaggregation of Revenue [Line Items]
Revenues	656	1,625	2,871	5,668
Operating Segments | Government Operations | Over time
Disaggregation of Revenue [Line Items]
Revenues	422,459	417,139	1,290,745	1,245,797
Operating Segments | Government Operations | Point-in-time
Disaggregation of Revenue [Line Items]
Revenues	62	0	90	114
Operating Segments | Government Operations | United States:
Disaggregation of Revenue [Line Items]
Revenues	419,053	415,244	1,281,887	1,238,826
Operating Segments | Government Operations | United States: | Government
Disaggregation of Revenue [Line Items]
Revenues	402,300	388,931	1,219,340	1,171,584
Operating Segments | Government Operations | United States: | Non-Government
Disaggregation of Revenue [Line Items]
Revenues	16,753	26,313	62,547	67,242
Operating Segments | Government Operations | Canada: | Non-Government
Disaggregation of Revenue [Line Items]
Revenues	658	887	2,477	2,541
Operating Segments | Government Operations | Other:
Disaggregation of Revenue [Line Items]
Revenues	2,810	1,008	6,471	4,544
Operating Segments | Government Operations | Other: | Government
Disaggregation of Revenue [Line Items]
Revenues	346	0	1,071	0
Operating Segments | Government Operations | Other: | Non-Government
Disaggregation of Revenue [Line Items]
Revenues	2,464	1,008	5,400	4,544
Operating Segments | Commercial Operations
Disaggregation of Revenue [Line Items]
Revenues	101,794	83,382	320,266	292,622
Operating Segments | Commercial Operations | Fixed-Price Incentive Fee
Disaggregation of Revenue [Line Items]
Revenues	2,531	3,452	7,047	7,672
Operating Segments | Commercial Operations | Firm-Fixed-Price
Disaggregation of Revenue [Line Items]
Revenues	69,170	69,993	222,503	213,326
Operating Segments | Commercial Operations | Cost-Plus Fee
Disaggregation of Revenue [Line Items]
Revenues	0	0	0	0
Operating Segments | Commercial Operations | Time-and-Materials
Disaggregation of Revenue [Line Items]
Revenues	30,093	9,937	90,716	71,624
Operating Segments | Commercial Operations | Over time
Disaggregation of Revenue [Line Items]
Revenues	87,159	68,983	277,654	254,727
Operating Segments | Commercial Operations | Point-in-time
Disaggregation of Revenue [Line Items]
Revenues	14,635	14,399	42,612	37,895
Operating Segments | Commercial Operations | United States:
Disaggregation of Revenue [Line Items]
Revenues	7,700	11,493	23,770	33,253
Operating Segments | Commercial Operations | United States: | Government
Disaggregation of Revenue [Line Items]
Revenues	0	0	0	0
Operating Segments | Commercial Operations | United States: | Non-Government
Disaggregation of Revenue [Line Items]
Revenues	7,700	11,493	23,770	33,253
Operating Segments | Commercial Operations | Canada: | Non-Government
Disaggregation of Revenue [Line Items]
Revenues	90,143	69,285	283,298	245,216
Operating Segments | Commercial Operations | Other:
Disaggregation of Revenue [Line Items]
Revenues	3,951	2,604	13,198	14,153
Operating Segments | Commercial Operations | Other: | Government
Disaggregation of Revenue [Line Items]
Revenues	0	0	0	0
Operating Segments | Commercial Operations | Other: | Non-Government
Disaggregation of Revenue [Line Items]
Revenues	3,951	2,604	13,198	14,153
Eliminations
Disaggregation of Revenue [Line Items]
Revenues	(604)	(1,794)	(2,444)	(6,434)
Eliminations | Government Operations
Disaggregation of Revenue [Line Items]
Revenues	(604)	(1,672)	(2,378)	(5,788)
Eliminations | Commercial Operations
Disaggregation of Revenue [Line Items]
Revenues	$ 0	$ (122)	$ (66)	$ (646)

Revenue Recognition - Additiona

Revenue Recognition - Additional Details (Details) $ / shares in Units, $ in Millions	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2022 USD ($)	Sep. 30, 2021 USD ($)	Sep. 30, 2022 USD ($) segment $ / shares	Sep. 30, 2021 USD ($)	Dec. 31, 2021 segment
Revenue from Contract with Customer [Abstract]
Number of reportable segments | segment			2		3
Net favorable changes in estimate that resulted in an increase in revenue	$ 4.2	$ 18.1	$ 1.1	$ 27.8
Net changes in estimate that resulted in an increase in cost of operations			2.2
Net changes in estimate that resulted in a decrease in operating income			$ (11.3)
Net changes in estimate that resulted in a decrease in earnings per share | $ / shares			$ (0.09)
Revenue recognized from advance billings on contracts	11.2	$ 14	$ 88.5	$ 67.1
Revenue, remaining performance obligation, amount	$ 4,318.9		$ 4,318.9
Revenue, remaining performance obligation, percentage	46%		46%

Revenue Recognition - Contract

Revenue Recognition - Contract Assets and Liabilities (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Contracts with Customers, Asset and Liability [Line Items]
Advance billings on contracts	$ 98,545	$ 111,619
Unbilled receivables
Contracts with Customers, Asset and Liability [Line Items]
Contract with customer, asset	523,924	528,644
Retainages
Contracts with Customers, Asset and Liability [Line Items]
Contract with customer, asset	76,193	51,507
Retainages
Contracts with Customers, Asset and Liability [Line Items]
Contract with customer, asset	$ 1,261	$ 1,271

Pension Plans and Postretirem_3

Pension Plans and Postretirement Benefits - Additional Details (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Retirement Benefits [Abstract]
Service cost	$ 3.1	$ 3	$ 9.3	$ 9.3
Net periodic benefit (income) cost, excluding service costs	$ (12.6)	$ (13)	$ (37.8)	$ (40)

Pension Plans and Postretirem_4

Pension Plans and Postretirement Benefits - Components of Net Periodic Benefit Cost (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Defined Benefit Plan Disclosure [Line Items]
Service cost	$ 3,100	$ 3,000	$ 9,300	$ 9,300
Pension Benefits
Defined Benefit Plan Disclosure [Line Items]
Service cost	2,945	2,824	8,850	8,753
Interest cost	7,825	6,846	23,504	20,381
Expected return on plan assets	(20,863)	(20,477)	(62,619)	(61,339)
Amortization of prior service cost (credit)	807	758	2,421	2,322
Net periodic benefit income	(9,286)	(10,049)	(27,844)	(29,883)
Other Benefits
Defined Benefit Plan Disclosure [Line Items]
Service cost	163	180	494	566
Interest cost	345	330	1,039	898
Expected return on plan assets	(738)	(437)	(2,213)	(2,168)
Amortization of prior service cost (credit)	7	(44)	20	(133)
Net periodic benefit income	$ (223)	$ 29	$ (660)	$ (837)

Fair Value Measurements - Summa

Fair Value Measurements - Summary of Investments and Available-for-Sale Securities Measured at Fair Value (Details) - Fair Value, Measurements, Recurring - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total	$ 11,589	$ 13,369
Mutual funds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity securities	5,968	7,650
U.S. Government and agency securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	3,272	2,738
Corporate bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	2,304	2,926
Asset-backed securities and collateralized mortgage obligations
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	45	55
Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total	5,028	4,590
Level 1 | Mutual funds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity securities	0	0
Level 1 | U.S. Government and agency securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	3,272	2,738
Level 1 | Corporate bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	1,756	1,852
Level 1 | Asset-backed securities and collateralized mortgage obligations
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	0	0
Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total	6,561	8,779
Level 2 | Mutual funds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity securities	5,968	7,650
Level 2 | U.S. Government and agency securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	0	0
Level 2 | Corporate bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	548	1,074
Level 2 | Asset-backed securities and collateralized mortgage obligations
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	45	55
Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total	0	0
Level 3 | Mutual funds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity securities	0	0
Level 3 | U.S. Government and agency securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	0	0
Level 3 | Corporate bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	0	0
Level 3 | Asset-backed securities and collateralized mortgage obligations
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	$ 0	$ 0

Fair Value Measurements - Addit

Fair Value Measurements - Additional Information (Details) - USD ($) $ in Millions	Sep. 30, 2022	Dec. 31, 2021
Senior Notes | Senior Notes Due 2028
Fair Values Of Financial Instruments [Line Items]
Stated interest rate	4.125%
Fair value of senior notes	$ 351	$ 406.3
Senior Notes | Senior Notes Due 2029
Fair Values Of Financial Instruments [Line Items]
Stated interest rate	4.125%
Fair value of senior notes	$ 347.7	406.5
FX Forward Contracts
Fair Values Of Financial Instruments [Line Items]
Fair value of foreign currency forward contracts	$ 18.3	$ (3.2)

Stock-Based Compensation - Addi

Stock-Based Compensation - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Share-Based Payment Arrangement [Abstract]
Stock based compensation expense	$ 3.2	$ 5.5	$ 12.4	$ 14.7
Stock-based compensation, tax benefits	$ 0.5	$ 1	$ 2.1	$ 2.5

Segment Reporting - Additional

Segment Reporting - Additional Information (Details) - segment	9 Months Ended	12 Months Ended
	Sep. 30, 2022	Dec. 31, 2021
Segment Reporting, Disclosure of Entity's Reportable Segments [Abstract]
Number of reportable segments	2	3

Segment Reporting - Schedule of

Segment Reporting - Schedule of Operating Results by Segment (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021	Dec. 31, 2021
Segment Reporting, Other Significant Reconciling Item [Line Items]
Revenues	$ 523,711	$ 498,727	$ 1,608,657	$ 1,532,099
OPERATING INCOME:
Total Operating Income	79,878	87,468	246,688	243,633
Other Income (Expense)	2,144	(9,699)	10,881	4,960
Income before Provision for Income Taxes	82,022	77,769	257,569	248,593
Total Assets	2,672,058		2,672,058		$ 2,501,380
Operating Segments
Segment Reporting, Other Significant Reconciling Item [Line Items]
Revenues	524,315	500,521	1,611,101	1,538,533
OPERATING INCOME:
Total Operating Income	84,582	92,467	257,422	255,517
Total Assets	2,524,990		2,524,990		2,407,245
Operating Segments | Government Operations
Segment Reporting, Other Significant Reconciling Item [Line Items]
Revenues	422,521	417,139	1,290,835	1,245,911
OPERATING INCOME:
Total Operating Income	77,735	87,542	233,749	238,658
Total Assets	1,526,835		1,526,835		1,430,863
Operating Segments | Commercial Operations
Segment Reporting, Other Significant Reconciling Item [Line Items]
Revenues	101,794	83,382	320,266	292,622
OPERATING INCOME:
Total Operating Income	6,847	4,925	23,673	16,859
Total Assets	998,155		998,155		976,382
Eliminations
Segment Reporting, Other Significant Reconciling Item [Line Items]
Revenues	(604)	(1,794)	(2,444)	(6,434)
Eliminations | Government Operations
Segment Reporting, Other Significant Reconciling Item [Line Items]
Revenues	(604)	(1,672)	(2,378)	(5,788)
Eliminations | Commercial Operations
Segment Reporting, Other Significant Reconciling Item [Line Items]
Revenues	0	(122)	(66)	(646)
Unallocated Corporate
OPERATING INCOME:
Total Operating Income	(4,704)	$ (4,999)	(10,734)	$ (11,884)
Total Assets	$ 147,068		$ 147,068		$ 94,135

Earnings Per Share - Computatio

Earnings Per Share - Computation of Basic and Diluted Earnings Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Basic:
Net Income Attributable to BWX Technologies, Inc.	$ 61,603	$ 59,914	$ 195,226	$ 189,010
Weighted-average common shares (in shares)	91,407,599	94,277,253	91,455,350	94,978,638
Basic earnings per common share (in usd per share)	$ 0.67	$ 0.64	$ 2.13	$ 1.99
Diluted:
Net Income Attributable to BWX Technologies, Inc.	$ 61,603	$ 59,914	$ 195,226	$ 189,010
Weighted-average common shares (in shares)	91,407,599	94,277,253	91,455,350	94,978,638
Effect of dilutive securities:
Stock options, restricted stock units and performance shares (in shares)	247,937	206,722	210,033	212,038
Adjusted weighted-average common shares (in shares)	91,655,536	94,483,975	91,665,383	95,190,676
Diluted earnings per common share (in usd per share)	$ 0.67	$ 0.63	$ 2.13	$ 1.99
Number of shares that would be antidilutive (in shares)			31,507	0

Subsequent Events (Details)

Subsequent Events (Details) - Subsequent Event $ in Millions	Oct. 12, 2022 USD ($)
Revolving Credit Facility
Subsequent Event [Line Items]
Long-term debt, gross	$ 570
New Revolving Credit Facility
Subsequent Event [Line Items]
Letters of Credit Outstanding, Amount	37.1
New Revolving Credit Facility | Revolving Credit Facility
Subsequent Event [Line Items]
Credit agreement, maximum borrowing capacity	750
Long-term debt, gross	320
Amount available under revolving credit facility	392.9
New Term Loan | Revolving Credit Facility
Subsequent Event [Line Items]
Debt instrument, face amount	250
Long-term debt, gross	$ 250