BWX (BWXT) 10-Q 1 Nov 23 2023 Q3 Quarterly report Financial data

Cover page

Cover page - shares	9 Months Ended
	Sep. 30, 2023	Oct. 30, 2023
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2023
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)		91,512,788
Amendment Flag	false
Document Fiscal Year Focus	2023
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, 2023	Dec. 31, 2022
Current Assets:
Cash and cash equivalents	$ 50,201	$ 35,244
Restricted cash and cash equivalents	3,022	2,928
Investments	0	3,804
Accounts receivable – trade, net	100,570	60,782
Accounts receivable – other	21,447	26,894
Retainages	77,823	48,566
Contracts in progress	558,979	538,365
Other current assets	65,839	55,036
Total Current Assets	877,881	771,619
Property, Plant and Equipment, Net	1,186,065	1,134,897
Investments	8,806	8,097
Goodwill	293,603	293,165
Deferred Income Taxes	18,216	20,585
Investments in Unconsolidated Affiliates	105,050	100,198
Intangible Assets	184,990	193,612
Other Assets	102,228	96,766
TOTAL	2,776,839	2,618,939
Current Liabilities:
Current portion of long-term debt	6,250	6,250
Accounts payable	151,433	127,112
Accrued employee benefits	58,421	61,079
Accrued liabilities – other	63,075	84,693
Advance billings on contracts	71,990	88,726
Total Current Liabilities	351,169	367,860
Long-Term Debt	1,334,473	1,282,624
Accumulated Postretirement Benefit Obligation	17,437	18,157
Environmental Liabilities	96,257	90,989
Pension Liability	51,159	57,832
Other Liabilities	54,433	53,122
Commitments and Contingencies (Note 5)
Stockholders' Equity:
Common stock, par value $0.01 per share, authorized 325,000,000 shares; issued 128,048,653 and 127,671,756 shares at September 30, 2023 and December 31, 2022, respectively	1,280	1,277
Preferred stock, par value $0.01 per share, authorized 75,000,000 shares; No shares issued	0	0
Capital in excess of par value	202,674	189,263
Retained earnings	2,049,254	1,932,970
Treasury stock at cost, 36,537,831 and 36,417,480 shares at September 30, 2023 and December 31, 2022, respectively	(1,360,777)	(1,353,270)
Accumulated other comprehensive income (loss)	(20,395)	(21,930)
Stockholders' Equity – BWX Technologies, Inc.	872,036	748,310
Noncontrolling interest	(125)	45
Total Stockholders' Equity	871,911	748,355
TOTAL	$ 2,776,839	$ 2,618,939

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares	Sep. 30, 2023	Dec. 31, 2022
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)	128,048,653	127,671,756
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)	36,537,831	36,417,480

Condensed Consolidated Statemen

Condensed Consolidated Statements of Income - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Income Statement [Abstract]
Revenues	$ 589,989	$ 523,711	$ 1,770,794	$ 1,608,657
Costs and Expenses:
Cost of operations	436,296	399,281	1,338,750	1,217,108
Research and development costs	1,156	1,426	5,955	6,990
Losses (gains) on asset disposals and impairments, net	0	(251)	(15)	(222)
Selling, general and administrative expenses	79,828	58,160	205,100	172,974
Total Costs and Expenses	517,280	458,616	1,549,790	1,396,850
Equity in Income of Investees	12,649	14,783	38,862	34,881
Operating Income	85,358	79,878	259,866	246,688
Other Income (Expense):
Interest income	643	273	1,623	463
Interest expense	(12,175)	(9,625)	(35,200)	(24,983)
Other – net	4,340	11,496	9,490	35,401
Total Other Income (Expense)	(7,192)	2,144	(24,087)	10,881
Income before Provision for Income Taxes	78,166	82,022	235,779	257,569
Provision for Income Taxes	17,814	20,185	55,769	61,977
Net Income	60,352	61,837	180,010	195,592
Net Loss (Income) Attributable to Noncontrolling Interest	(79)	(234)	(48)	(366)
Net Income Attributable to BWX Technologies, Inc.	$ 60,273	$ 61,603	$ 179,962	$ 195,226
Basic:
Net Income Attributable to BWX Technologies, Inc. (in usd per share)	$ 0.66	$ 0.67	$ 1.96	$ 2.13
Diluted:
Net Income Attributable to BWX Technologies, Inc. (in usd per share)	$ 0.66	$ 0.67	$ 1.96	$ 2.13
Shares used in the computation of earnings per share (Note 9):
Basic (in shares)	91,659,117	91,407,599	91,596,650	91,455,350
Diluted (in shares)	91,895,480	91,655,536	91,833,450	91,665,383

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Statement of Comprehensive Income [Abstract]
Net Income	$ 60,352	$ 61,837	$ 180,010	$ 195,592
Other Comprehensive Income (Loss):
Currency translation adjustments	(13,485)	(36,906)	(868)	(46,822)
Derivative financial instruments:
Unrealized (losses) gains arising during the period, net of tax benefit (provision) of $2, $(177), $(207) and $(7), respectively	(11)	515	603	19
Reclassification adjustment for losses (gains) included in net income, net of tax (benefit) provision of $(31), $(74), $101 and $(178), respectively	100	220	(293)	520
Amortization of benefit plan costs, net of tax benefit of $(162), $(163), $(488) and $(488), respectively	668	650	2,002	1,952
Unrealized gains (losses) on investments arising during the period, net of tax (provision) benefit of $(14), $5, $(25) and $24, respectively	53	(20)	91	(92)
Other Comprehensive Income (Loss)	(12,675)	(35,541)	1,535	(44,423)
Total Comprehensive Income	47,677	26,296	181,545	151,169
Comprehensive Loss (Income) Attributable to Noncontrolling Interest	(79)	(234)	(48)	(366)
Comprehensive Income Attributable to BWX Technologies, Inc.	$ 47,598	$ 26,062	$ 181,497	$ 150,803

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Comprehensive Income (Parenthetical) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Statement of Comprehensive Income [Abstract]
Tax benefit on derivative financial instruments, unrealized losses	$ 2	$ (177)	$ (207)	$ (7)
Tax benefit on derivative financial instruments for reclassification adjustments included in net income	(31)	(74)	101	(178)
Tax benefit for amortization of benefit plans	(162)	(163)	(488)	(488)
Tax benefit on unrealized losses on investments	$ (14)	$ 5	$ (25)	$ 24

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, 2021			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 (loss)	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
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 (loss)	195,592
Currency translation adjustments	(46,822)
Ending balance (in shares) at Sep. 30, 2022			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 (loss)	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)
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 (loss)	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
Exercises of stock options	458	458		458
Shares placed in treasury	(945)	(945)					(945)
Stock-based compensation charges (in shares)			13,833
Stock-based compensation charges	3,081	3,081	$ 0	3,081
Distributions to noncontrolling interests	(76)							(76)
Ending balance (in shares) at Sep. 30, 2022			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 Dec. 31, 2022	127,671,756		127,671,756
Beginning balance at Dec. 31, 2022	$ 748,355	748,310	$ 1,277	189,263	1,932,970	(21,930)	(1,353,270)	45
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	60,993	61,092			61,092			(99)
Dividends declared	(21,231)	(21,231)			(21,231)
Currency translation adjustments	1,694	1,694				1,694
Derivative financial instruments	554	554				554
Defined benefit obligations	657	657				657
Available-for-sale investments	(9)	(9)				(9)
Exercises of stock options (in shares)			3,000
Exercises of stock options	72	72	$ 2	70
Shares placed in treasury	(6,903)	(6,903)					(6,903)
Stock-based compensation charges (in shares)			293,961
Stock-based compensation charges	3,893	3,893	$ 1	3,892
Distributions to noncontrolling interests	(67)							(67)
Ending balance (in shares) at Mar. 31, 2023			127,968,717
Ending balance at Mar. 31, 2023	$ 788,008	788,129	$ 1,280	193,225	1,972,831	(19,034)	(1,360,173)	(121)
Beginning balance (in shares) at Dec. 31, 2022	127,671,756		127,671,756
Beginning balance at Dec. 31, 2022	$ 748,355	748,310	$ 1,277	189,263	1,932,970	(21,930)	(1,353,270)	45
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	180,010
Currency translation adjustments	$ (868)
Ending balance (in shares) at Sep. 30, 2023	128,048,653		128,048,653
Ending balance at Sep. 30, 2023	$ 871,911	872,036	$ 1,280	202,674	2,049,254	(20,395)	(1,360,777)	(125)
Beginning balance (in shares) at Mar. 31, 2023			127,968,717
Beginning balance at Mar. 31, 2023	788,008	788,129	$ 1,280	193,225	1,972,831	(19,034)	(1,360,173)	(121)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	58,665	58,597			58,597			68
Dividends declared	(21,216)	(21,216)			(21,216)
Currency translation adjustments	10,923	10,923				10,923
Derivative financial instruments	(333)	(333)				(333)
Defined benefit obligations	677	677				677
Available-for-sale investments	47	47				47
Exercises of stock options (in shares)			4,417
Exercises of stock options	105	105	$ 0	105
Shares placed in treasury	(46)	(46)					(46)
Stock-based compensation charges (in shares)			12,967
Stock-based compensation charges	4,776	4,776		4,776
Distributions to noncontrolling interests	(78)							(78)
Ending balance (in shares) at Jun. 30, 2023			127,986,101
Ending balance at Jun. 30, 2023	841,528	841,659	$ 1,280	198,106	2,010,212	(7,720)	(1,360,219)	(131)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	60,352	60,273			60,273			79
Dividends declared	(21,231)	(21,231)			(21,231)
Currency translation adjustments	(13,485)	(13,485)				(13,485)
Derivative financial instruments	89	89				89
Defined benefit obligations	668	668				668
Available-for-sale investments	53	53				53
Exercises of stock options (in shares)			39,468
Exercises of stock options	932	932		932
Shares placed in treasury	(558)	(558)					(558)
Stock-based compensation charges (in shares)			23,084
Stock-based compensation charges	3,636	3,636		3,636
Distributions to noncontrolling interests	$ (73)							(73)
Ending balance (in shares) at Sep. 30, 2023	128,048,653		128,048,653
Ending balance at Sep. 30, 2023	$ 871,911	$ 872,036	$ 1,280	$ 202,674	$ 2,049,254	$ (20,395)	$ (1,360,777)	$ (125)

Condensed Consolidated Statem_5

Condensed Consolidated Statements of Stockholders' Equity (Parenthetical) - $ / shares	3 Months Ended
	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022
Statement of Stockholders' Equity [Abstract]
Dividends declared per share (in usd per share)	$ 0.23	$ 0.23	$ 0.23	$ 0.22	$ 0.22	$ 0.22

Condensed Consolidated Statem_6

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022
CASH FLOWS FROM OPERATING ACTIVITIES:
Net Income	$ 180,010	$ 195,592
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	58,205	54,808
Income of investees, net of dividends	(4,854)	(10,733)
Recognition of losses for pension and postretirement plans	2,490	2,441
Stock-based compensation expense	12,305	12,047
Other, net	21	1,966
Changes in assets and liabilities, net of effects from acquisitions:
Accounts receivable	(31,520)	10,518
Accounts payable	24,874	(17,996)
Retainages	(29,257)	(24,684)
Contracts in progress and advance billings on contracts	(38,217)	(42,824)
Income taxes	(5,331)	(4,019)
Accrued and other current liabilities	(10,231)	(8,487)
Pension liabilities, accrued postretirement benefit obligations and employee benefits	(10,874)	(34,994)
Other, net	(5,684)	3,400
NET CASH PROVIDED BY OPERATING ACTIVITIES	141,937	137,035
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchases of property, plant and equipment	(100,498)	(134,591)
Acquisition of business, net of cash acquired	0	(47,328)
Purchases of securities	(2,343)	(2,700)
Sales and maturities of securities	5,996	2,667
Investments, net of return of capital, in equity method investees	0	(11,450)
Other, net	(8,142)	324
NET CASH USED IN INVESTING ACTIVITIES	(104,987)	(193,078)
CASH FLOWS FROM FINANCING ACTIVITIES:
Borrowings of long-term debt	332,000	373,700
Repayments of long-term debt	(281,688)	(223,700)
Repurchases of common stock	0	(20,000)
Dividends paid to common shareholders	(63,870)	(60,894)
Cash paid for shares withheld to satisfy employee taxes	(7,505)	(6,588)
Settlements of forward contracts, net	(2,030)	13,917
Other, net	902	(147)
NET CASH (USED IN) PROVIDED BY FINANCING ACTIVITIES	(22,191)	76,288
EFFECTS OF EXCHANGE RATE CHANGES ON CASH	414	(3,093)
TOTAL INCREASE IN CASH AND CASH EQUIVALENTS AND RESTRICTED CASH AND CASH EQUIVALENTS	15,173	17,152
CASH AND CASH EQUIVALENTS AND RESTRICTED CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD	40,990	39,775
CASH AND CASH EQUIVALENTS AND RESTRICTED CASH AND CASH EQUIVALENTS AT END OF PERIOD	56,163	56,927
Cash paid during the period for:
Interest	44,745	26,809
Income taxes (net of refunds)	59,947	67,555
SCHEDULE OF NON-CASH INVESTING ACTIVITY:
Accrued capital expenditures included in accounts payable	$ 9,239	$ 7,427

Basis of Presentation and Signi

Basis of Presentation and Significant Accounting Policies	9 Months Ended
	Sep. 30, 2023
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, 2022 (our "2022 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, 2023. 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 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 commercial shipping 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 primarily 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, the Department of Defense and NASA. In addition, this segment also develops technology for advanced nuclear reactors for a variety of power and propulsion applications in the space and terrestrial domains and offers complete advanced nuclear fuel and reactor design and engineering, licensing and manufacturing services for these programs. • 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 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 also manufactures medical radioisotopes, radiopharmaceuticals and medical devices, and partners with life science and pharmaceutical companies developing new drugs. See Note 8 and Note 3 for financial information about our segments. Operating results for the three and nine months ended September 30, 2023 are not necessarily indicative of the results that may be expected for the year ending December 31, 2023. For further information, refer to the consolidated financial statements and notes included in our 2022 10-K. Recently Adopted Accounting Standards There were no accounting standards adopted during the nine months ended September 30, 2023 that had a significant impact on our financial position, results of operations, cash flows or disclosures. Change in Accounting Principle During the quarter ended September 30, 2023, we changed our annual goodwill impairment test date from September 30 to November 15. This is a change in method of applying an accounting principle which we believe is a preferable alternative as the new date of assessment is more closely aligned with the approval of our fourth quarter forecast and includes the most recent financial information available. This change does not delay, accelerate or avoid a potential impairment charge. 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. See Note 3 for a further discussion of revenue recognition. Provision for Income Taxes We are subject to federal income tax in the U.S., Canada, and the U.K., 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 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, 2023 was 22.8% as compared to 24.6% for the three months ended September 30, 2022. Our effective tax rate for the nine months ended September 30, 2023 was 23.7% as compared to 24.1% for the nine months ended September 30, 2022. The effective tax rates for the three and nine months ended September 30, 2023 and 2022 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 foreign earnings. Cash and Cash Equivalents and Restricted Cash and Cash Equivalents At September 30, 2023, we had restricted cash and cash equivalents totaling $6.0 million, $2.9 million of which was held for future decommissioning of facilities (which is included in Other Assets on our condensed consolidated balance sheets) and $3.0 million of which was held to meet reinsurance reserve requirements of our captive insurer. The following table provides a reconciliation of cash and cash equivalents and restricted cash and cash equivalents on our condensed consolidated balance sheets to the totals presented on our condensed consolidated statements of cash flows: September 30, December 31, (In thousands) Cash and cash equivalents $ 50,201 $ 35,244 Restricted cash and cash equivalents 3,022 2,928 Restricted cash and cash equivalents included in Other Assets 2,940 2,818 Total cash and cash equivalents and restricted cash and cash equivalents as presented on our condensed consolidated statements of cash flows $ 56,163 $ 40,990 Inventories At September 30, 2023 and December 31, 2022, Other current assets included inventories totaling $31.6 million and $22.9 million, respectively, consisting entirely of raw materials and supplies. Property, Plant and Equipment, Net Property, plant and equipment is stated at cost and is set forth below: September 30, December 31, (In thousands) Land $ 10,621 $ 9,844 Buildings 377,478 365,955 Machinery and equipment 1,070,368 1,026,024 Property under construction 555,268 515,494 2,013,735 1,917,317 Less: Accumulated depreciation 827,670 782,420 Property, Plant and Equipment, Net $ 1,186,065 $ 1,134,897 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 $ (5,075) $ (4,207) Net unrealized gain on derivative financial instruments 415 105 Unrecognized prior service cost on benefit obligations (15,953) (17,955) Net unrealized gain on available-for-sale investments 218 127 Accumulated other comprehensive income (loss) $ (20,395) $ (21,930) 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 2023 2022 2023 2022 Accumulated Other Comprehensive Income (Loss) Component Recognized (In thousands) Line Item Presented Realized gain (loss) on derivative financial instruments $ (207) $ (152) $ (80) $ (86) Revenues 76 (142) 474 (612) Cost of operations (131) (294) 394 (698) Total before tax 31 74 (101) 178 Provision for Income Taxes $ (100) $ (220) $ 293 $ (520) Net Income Amortization of prior service cost on benefit obligations $ (830) $ (813) $ (2,490) $ (2,440) Other – net 162 163 488 488 Provision for Income Taxes $ (668) $ (650) $ (2,002) $ (1,952) Net Income Total reclassification for the period $ (768) $ (870) $ (1,709) $ (2,472) 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 and are recorded in our condensed consolidated statements of cash flows based on the nature and use of the instruments. 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, 2023, we had deferred approximately $0.4 million of net gains 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, 2023 and 2022, we recognized gains of $12.6 million and $36.6 million, respectively, and for the nine months ended September 30, 2023 and 2022, we recognized gains of $3.7 million and $36.2 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, 2023, our derivative financial instruments consisted of FX forward contracts with a total notional value of $503.7 million with maturities extending to June 2025. 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, 2023
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 final purchase price allocation resulted in the recognition of $28.5 million of Intangible Assets, $7.2 million of inventory and $17.2 million of Goodwill. In addition, we recognized right-of-use assets and lease liabilities of $7.2 million. 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, 2023
Revenue from Contract with Customer [Abstract]
Revenue Recognition	REVENUE RECOGNITION As described in Note 1, our operations are assessed based on two reportable segments. Disaggregated Revenues Revenues by geographic area and customer type were as follows: Three Months Ended September 30, 2023 Three Months Ended September 30, 2022 Government Operations Commercial Operations Total Government Operations Commercial Operations Total (In thousands) United States: Government $ 427,237 $ — $ 427,237 $ 402,300 $ — $ 402,300 Non-Government 47,004 15,322 62,326 16,753 7,700 24,453 $ 474,241 $ 15,322 $ 489,563 $ 419,053 $ 7,700 $ 426,753 Canada: Government $ 90 $ — $ 90 $ — $ — $ — Non-Government 161 92,904 93,065 658 90,143 90,801 $ 251 $ 92,904 $ 93,155 $ 658 $ 90,143 $ 90,801 Other: Government $ 1,008 $ — $ 1,008 $ 346 $ — $ 346 Non-Government 2,355 4,133 6,488 2,464 3,951 6,415 $ 3,363 $ 4,133 $ 7,496 $ 2,810 $ 3,951 $ 6,761 Segment Revenues $ 477,855 $ 112,359 590,214 $ 422,521 $ 101,794 524,315 Eliminations (225) (604) Revenues $ 589,989 $ 523,711 Nine Months Ended September 30, 2023 Nine Months Ended September 30, 2022 Government Operations Commercial Operations Total Government Operations Commercial Operations Total (In thousands) United States: Government $ 1,318,149 $ — $ 1,318,149 $ 1,219,340 $ — $ 1,219,340 Non-Government 98,777 41,518 140,295 62,547 23,770 86,317 $ 1,416,926 $ 41,518 $ 1,458,444 $ 1,281,887 $ 23,770 $ 1,305,657 Canada: Government $ 178 $ — $ 178 $ — $ — $ — Non-Government 754 286,016 286,770 2,477 283,298 285,775 $ 932 $ 286,016 $ 286,948 $ 2,477 $ 283,298 $ 285,775 Other: Government $ 3,311 $ — $ 3,311 $ 1,071 $ — $ 1,071 Non-Government 8,539 14,669 23,208 5,400 13,198 18,598 $ 11,850 $ 14,669 $ 26,519 $ 6,471 $ 13,198 $ 19,669 Segment Revenues $ 1,429,708 $ 342,203 1,771,911 $ 1,290,835 $ 320,266 1,611,101 Eliminations (1,117) (2,444) Revenues $ 1,770,794 $ 1,608,657 Revenues by timing of transfer of goods or services were as follows: Three Months Ended September 30, 2023 Three Months Ended September 30, 2022 Government Operations Commercial Operations Total Government Operations Commercial Operations Total (In thousands) Over time $ 473,778 $ 101,005 $ 574,783 $ 422,459 $ 87,159 $ 509,618 Point-in-time 4,077 11,354 15,431 62 14,635 14,697 Segment Revenues $ 477,855 $ 112,359 590,214 $ 422,521 $ 101,794 524,315 Eliminations (225) (604) Revenues $ 589,989 $ 523,711 Nine Months Ended September 30, 2023 Nine Months Ended September 30, 2022 Government Operations Commercial Operations Total Government Operations Commercial Operations Total (In thousands) Over time $ 1,415,319 $ 291,721 $ 1,707,040 $ 1,290,745 $ 277,654 $ 1,568,399 Point-in-time 14,389 50,482 64,871 90 42,612 42,702 Segment Revenues $ 1,429,708 $ 342,203 1,771,911 $ 1,290,835 $ 320,266 1,611,101 Eliminations (1,117) (2,444) Revenues $ 1,770,794 $ 1,608,657 Revenues by contract type were as follows: Three Months Ended September 30, 2023 Three Months Ended September 30, 2022 Government Operations Commercial Operations Total Government Operations Commercial Operations Total (In thousands) Fixed-Price Incentive Fee $ 301,392 $ 2,225 $ 303,617 $ 308,827 $ 2,531 $ 311,358 Firm-Fixed-Price 87,812 72,719 160,531 47,359 69,170 116,529 Cost-Plus Fee 83,549 — 83,549 65,679 — 65,679 Time-and-Materials 5,102 37,415 42,517 656 30,093 30,749 Segment Revenues $ 477,855 $ 112,359 590,214 $ 422,521 $ 101,794 524,315 Eliminations (225) (604) Revenues $ 589,989 $ 523,711 Nine Months Ended September 30, 2023 Nine Months Ended September 30, 2022 Government Operations Commercial Operations Total Government Operations Commercial Operations Total (In thousands) Fixed-Price Incentive Fee $ 920,821 $ 9,013 $ 929,834 $ 935,200 $ 7,047 $ 942,247 Firm-Fixed-Price 259,853 221,841 481,694 191,597 222,503 414,100 Cost-Plus Fee 242,774 — 242,774 161,167 — 161,167 Time-and-Materials 6,260 111,349 117,609 2,871 90,716 93,587 Segment Revenues $ 1,429,708 $ 342,203 1,771,911 $ 1,290,835 $ 320,266 1,611,101 Eliminations (1,117) (2,444) Revenues $ 1,770,794 $ 1,608,657 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, 2023, we recognized net favorable changes in estimates related to contracts that recognize revenue over time that resulted in increases in revenues of $17.4 million and $4.4 million, respectively. During the three and nine months ended September 30, 2023, we recognized decreases in cost of operations of $2.5 million. Included in these amounts are contract adjustments related to a nuclear operations contract within our Government Operations segment. These adjustments resulted in net favorable increases in revenue of $20.4 million and $20.0 million and decreases in cost of operations of $2.5 million for the three and nine months ended September 30, 2023, respectively. During the three and nine months ended September 30, 2022, we recognized net favorable 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, and increases in cost of operations of $2.2 million for the nine months ended September 30, 2022. 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 decreases in operating income of $11.3 million for the nine months ended September 30, 2022 related to this matter. We are pursuing recovery of cost overruns related to this project. 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. Costs specific to certain contracts for which we recognize revenue at a point in time are also included 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, 2023 2022 (In thousands) Included in Contracts in progress: Unbilled receivables $ 541,120 $ 521,291 Retainages $ 77,823 $ 48,566 Advance billings on contracts $ 71,990 $ 88,726 During the three months ended September 30, 2023 and 2022, we recognized $1.1 million and $11.2 million, respectively, of revenues that were in Advance billings on contracts at the beginning of each year. During the nine months ended September 30, 2023 and 2022, we recognized $70.3 million and $88.5 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, 2023, our remaining performance obligations were $3,980.8 million. We expect to recognize approximately 57% of the revenue associated with our remaining performance obligations by the end of 2024, with the remainder to be recognized thereafter.

Pension Plans and Postretiremen

Pension Plans and Postretirement Benefits	9 Months Ended
	Sep. 30, 2023
Retirement Benefits [Abstract]
Pension Plans and Postretirement Benefits	PENSION PLANS AND POSTRETIREMENT BENEFITSWe 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, 2023 and 2022, these amounts were $2.0 million and $3.1 million, respectively. For the nine months ended September 30, 2023 and 2022, these amounts were $5.9 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, 2023 and 2022, these amounts were $(2.5) million and $(12.6) million, respectively. For the nine months ended September 30, 2023 and 2022, these amounts were $(7.4) million and $(37.8) 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 2023 2022 2023 2022 2023 2022 2023 2022 (In thousands) Service cost $ 1,881 $ 2,945 $ 5,639 $ 8,850 $ 86 $ 163 $ 255 $ 494 Interest cost 11,913 7,825 35,772 23,504 538 345 1,607 1,039 Expected return on plan assets (15,113) (20,863) (45,332) (62,619) (634) (738) (1,903) (2,213) Amortization of prior service cost 820 807 2,460 2,421 10 7 30 20 Net periodic benefit income $ (499) $ (9,286) $ (1,461) $ (27,844) $ — $ (223) $ (11) $ (660)

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 30, 2023
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, 2023
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, 2023: Total Level 1 Level 2 Level 3 Unclassified (In thousands) Equity securities Mutual funds $ 7,034 $ — $ 7,034 $ — $ — Available-for-sale securities Corporate bonds 1,772 1,772 — — — Total $ 8,806 $ 1,772 $ 7,034 $ — $ — The following is a summary of our investments measured at fair value at December 31, 2022: Total Level 1 Level 2 Level 3 Unclassified (In thousands) Equity securities Mutual funds $ 6,341 $ — $ 6,341 $ — $ — Available-for-sale securities U.S. Government and agency securities 3,253 3,253 — — — Corporate bonds 2,265 1,714 551 — — Asset-backed securities and collateralized mortgage obligations 42 — 42 — — Total $ 11,901 $ 4,967 $ 6,934 $ — $ — 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, 2023 and December 31, 2022, we had FX forward contracts outstanding to purchase or sell foreign currencies, primarily Canadian dollars and Euros, with a total fair value of $5.4 million and $1.2 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, 2023 and December 31, 2022, the fair value of the Senior Notes due 2028 was $352.2 million and $358.0 million, respectively, and the fair value of the Senior Notes due 2029 was $347.2 million and $352.0 million, respectively. The fair value of our remaining debt instruments approximated their carrying values at September 30, 2023 and December 31, 2022.

Stock-Based Compensation

Stock-Based Compensation	9 Months Ended
	Sep. 30, 2023
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, 2023 and 2022 totaled $3.7 million and $3.2 million, respectively, with associated tax benefit totaling $0.5 million and $0.5 million, respectively. Stock-based compensation recognized for all of our plans for the nine months ended September 30, 2023 and 2022 totaled $12.5 million and $12.4 million, respectively, with associated tax benefit totaling $2.0 million and $2.1 million, respectively.

Segment Reporting

Segment Reporting	9 Months Ended
	Sep. 30, 2023
Segment Reporting [Abstract]
Segment Reporting	SEGMENT REPORTING As described in Note 1, our operations are assessed based on two reportable segments. An analysis of our operations by reportable segment is as follows: Three Months Ended Nine Months Ended 2023 2022 2023 2022 (In thousands) REVENUES: Government Operations $ 477,855 $ 422,521 $ 1,429,708 $ 1,290,835 Commercial Operations 112,359 101,794 342,203 320,266 Eliminations (1) (225) (604) (1,117) (2,444) $ 589,989 $ 523,711 $ 1,770,794 $ 1,608,657 (1) Segment revenues are net of the following intersegment transfers: Government Operations Transfers $ (213) $ (604) $ (1,001) $ (2,378) Commercial Operations Transfers (12) — (116) (66) $ (225) $ (604) $ (1,117) $ (2,444) OPERATING INCOME: Government Operations $ 85,632 $ 77,735 $ 258,400 $ 233,749 Commercial Operations 9,083 6,847 21,613 23,673 $ 94,715 $ 84,582 $ 280,013 $ 257,422 Unallocated Corporate (2) (9,357) (4,704) (20,147) (10,734) Total Operating Income $ 85,358 $ 79,878 $ 259,866 $ 246,688 Other Income (Expense) (7,192) 2,144 (24,087) 10,881 Income before Provision for Income Taxes $ 78,166 $ 82,022 $ 235,779 $ 257,569 (2) Unallocated corporate includes general corporate overhead not allocated to segments.

Earnings Per Share

Earnings Per Share	9 Months Ended
	Sep. 30, 2023
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 2023 2022 2023 2022 (In thousands, except share and per share amounts) Basic: Net Income Attributable to BWX Technologies, Inc. $ 60,273 $ 61,603 $ 179,962 $ 195,226 Weighted-average common shares 91,659,117 91,407,599 91,596,650 91,455,350 Basic earnings per common share $ 0.66 $ 0.67 $ 1.96 $ 2.13 Diluted: Net Income Attributable to BWX Technologies, Inc. $ 60,273 $ 61,603 $ 179,962 $ 195,226 Weighted-average common shares (basic) 91,659,117 91,407,599 91,596,650 91,455,350 Effect of dilutive securities: Stock options, restricted stock units and performance shares (1) 236,363 247,937 236,800 210,033 Adjusted weighted-average common shares 91,895,480 91,655,536 91,833,450 91,665,383 Diluted earnings per common share $ 0.66 $ 0.67 $ 1.96 $ 2.13 (1) At September 30, 2023 and 2022, we excluded 92,389 and 31,507 shares, respectively, from our diluted share calculation as their effect would have been antidilutive.

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Pay vs Performance Disclosure
Net Income (Loss) Attributable to Parent	$ 60,273	$ 61,603	$ 179,962	$ 195,226

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Sep. 30, 2023
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Basis of Presentation and Sig_2

Basis of Presentation and Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2023
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, 2022 (our "2022 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, 2023. 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 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 commercial shipping 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 primarily 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, the Department of Defense and NASA. In addition, this segment also develops technology for advanced nuclear reactors for a variety of power and propulsion applications in the space and terrestrial domains and offers complete advanced nuclear fuel and reactor design and engineering, licensing and manufacturing services for these programs. • 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 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 also manufactures medical radioisotopes, radiopharmaceuticals and medical devices, and partners with life science and pharmaceutical companies developing new drugs.
Recently Adopted Accounting Standards	There were no accounting standards adopted during the nine months ended September 30, 2023 that had a significant impact on our financial position, results of operations, cash flows or disclosures.
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. See Note 3 for a further discussion of revenue recognition.
Provision for Income Taxes	We are subject to federal income tax in the U.S., Canada, and the U.K., 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 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	At September 30, 2023, we had restricted cash and cash equivalents totaling $6.0 million, $2.9 million of which was held for future decommissioning of facilities (which is included in Other Assets on our condensed consolidated balance sheets) and $3.0 million of which was held to meet reinsurance reserve requirements of our captive insurer.
Inventories	At September 30, 2023 and December 31, 2022, Other current assets included inventories totaling $31.6 million and $22.9 million, respectively, consisting entirely of raw materials and supplies.
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 and are recorded in our condensed consolidated statements of cash flows based on the nature and use of the instruments.

Basis of Presentation and Sig_3

Basis of Presentation and Significant Accounting Policies (Tables)	9 Months Ended
	Sep. 30, 2023
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 statements of cash flows: September 30, December 31, (In thousands) Cash and cash equivalents $ 50,201 $ 35,244 Restricted cash and cash equivalents 3,022 2,928 Restricted cash and cash equivalents included in Other Assets 2,940 2,818 Total cash and cash equivalents and restricted cash and cash equivalents as presented on our condensed consolidated statements of cash flows $ 56,163 $ 40,990
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 statements of cash flows: September 30, December 31, (In thousands) Cash and cash equivalents $ 50,201 $ 35,244 Restricted cash and cash equivalents 3,022 2,928 Restricted cash and cash equivalents included in Other Assets 2,940 2,818 Total cash and cash equivalents and restricted cash and cash equivalents as presented on our condensed consolidated statements of cash flows $ 56,163 $ 40,990
Property, Plant and Equipment, Net	Property, plant and equipment is stated at cost and is set forth below: September 30, December 31, (In thousands) Land $ 10,621 $ 9,844 Buildings 377,478 365,955 Machinery and equipment 1,070,368 1,026,024 Property under construction 555,268 515,494 2,013,735 1,917,317 Less: Accumulated depreciation 827,670 782,420 Property, Plant and Equipment, Net $ 1,186,065 $ 1,134,897
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 $ (5,075) $ (4,207) Net unrealized gain on derivative financial instruments 415 105 Unrecognized prior service cost on benefit obligations (15,953) (17,955) Net unrealized gain on available-for-sale investments 218 127 Accumulated other comprehensive income (loss) $ (20,395) $ (21,930)
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 2023 2022 2023 2022 Accumulated Other Comprehensive Income (Loss) Component Recognized (In thousands) Line Item Presented Realized gain (loss) on derivative financial instruments $ (207) $ (152) $ (80) $ (86) Revenues 76 (142) 474 (612) Cost of operations (131) (294) 394 (698) Total before tax 31 74 (101) 178 Provision for Income Taxes $ (100) $ (220) $ 293 $ (520) Net Income Amortization of prior service cost on benefit obligations $ (830) $ (813) $ (2,490) $ (2,440) Other – net 162 163 488 488 Provision for Income Taxes $ (668) $ (650) $ (2,002) $ (1,952) Net Income Total reclassification for the period $ (768) $ (870) $ (1,709) $ (2,472)

Acquisitions (Tables)

Acquisitions (Tables)	9 Months Ended
	Sep. 30, 2023
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, 2023
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, 2023 Three Months Ended September 30, 2022 Government Operations Commercial Operations Total Government Operations Commercial Operations Total (In thousands) United States: Government $ 427,237 $ — $ 427,237 $ 402,300 $ — $ 402,300 Non-Government 47,004 15,322 62,326 16,753 7,700 24,453 $ 474,241 $ 15,322 $ 489,563 $ 419,053 $ 7,700 $ 426,753 Canada: Government $ 90 $ — $ 90 $ — $ — $ — Non-Government 161 92,904 93,065 658 90,143 90,801 $ 251 $ 92,904 $ 93,155 $ 658 $ 90,143 $ 90,801 Other: Government $ 1,008 $ — $ 1,008 $ 346 $ — $ 346 Non-Government 2,355 4,133 6,488 2,464 3,951 6,415 $ 3,363 $ 4,133 $ 7,496 $ 2,810 $ 3,951 $ 6,761 Segment Revenues $ 477,855 $ 112,359 590,214 $ 422,521 $ 101,794 524,315 Eliminations (225) (604) Revenues $ 589,989 $ 523,711 Nine Months Ended September 30, 2023 Nine Months Ended September 30, 2022 Government Operations Commercial Operations Total Government Operations Commercial Operations Total (In thousands) United States: Government $ 1,318,149 $ — $ 1,318,149 $ 1,219,340 $ — $ 1,219,340 Non-Government 98,777 41,518 140,295 62,547 23,770 86,317 $ 1,416,926 $ 41,518 $ 1,458,444 $ 1,281,887 $ 23,770 $ 1,305,657 Canada: Government $ 178 $ — $ 178 $ — $ — $ — Non-Government 754 286,016 286,770 2,477 283,298 285,775 $ 932 $ 286,016 $ 286,948 $ 2,477 $ 283,298 $ 285,775 Other: Government $ 3,311 $ — $ 3,311 $ 1,071 $ — $ 1,071 Non-Government 8,539 14,669 23,208 5,400 13,198 18,598 $ 11,850 $ 14,669 $ 26,519 $ 6,471 $ 13,198 $ 19,669 Segment Revenues $ 1,429,708 $ 342,203 1,771,911 $ 1,290,835 $ 320,266 1,611,101 Eliminations (1,117) (2,444) Revenues $ 1,770,794 $ 1,608,657 Revenues by timing of transfer of goods or services were as follows: Three Months Ended September 30, 2023 Three Months Ended September 30, 2022 Government Operations Commercial Operations Total Government Operations Commercial Operations Total (In thousands) Over time $ 473,778 $ 101,005 $ 574,783 $ 422,459 $ 87,159 $ 509,618 Point-in-time 4,077 11,354 15,431 62 14,635 14,697 Segment Revenues $ 477,855 $ 112,359 590,214 $ 422,521 $ 101,794 524,315 Eliminations (225) (604) Revenues $ 589,989 $ 523,711 Nine Months Ended September 30, 2023 Nine Months Ended September 30, 2022 Government Operations Commercial Operations Total Government Operations Commercial Operations Total (In thousands) Over time $ 1,415,319 $ 291,721 $ 1,707,040 $ 1,290,745 $ 277,654 $ 1,568,399 Point-in-time 14,389 50,482 64,871 90 42,612 42,702 Segment Revenues $ 1,429,708 $ 342,203 1,771,911 $ 1,290,835 $ 320,266 1,611,101 Eliminations (1,117) (2,444) Revenues $ 1,770,794 $ 1,608,657 Revenues by contract type were as follows: Three Months Ended September 30, 2023 Three Months Ended September 30, 2022 Government Operations Commercial Operations Total Government Operations Commercial Operations Total (In thousands) Fixed-Price Incentive Fee $ 301,392 $ 2,225 $ 303,617 $ 308,827 $ 2,531 $ 311,358 Firm-Fixed-Price 87,812 72,719 160,531 47,359 69,170 116,529 Cost-Plus Fee 83,549 — 83,549 65,679 — 65,679 Time-and-Materials 5,102 37,415 42,517 656 30,093 30,749 Segment Revenues $ 477,855 $ 112,359 590,214 $ 422,521 $ 101,794 524,315 Eliminations (225) (604) Revenues $ 589,989 $ 523,711 Nine Months Ended September 30, 2023 Nine Months Ended September 30, 2022 Government Operations Commercial Operations Total Government Operations Commercial Operations Total (In thousands) Fixed-Price Incentive Fee $ 920,821 $ 9,013 $ 929,834 $ 935,200 $ 7,047 $ 942,247 Firm-Fixed-Price 259,853 221,841 481,694 191,597 222,503 414,100 Cost-Plus Fee 242,774 — 242,774 161,167 — 161,167 Time-and-Materials 6,260 111,349 117,609 2,871 90,716 93,587 Segment Revenues $ 1,429,708 $ 342,203 1,771,911 $ 1,290,835 $ 320,266 1,611,101 Eliminations (1,117) (2,444) Revenues $ 1,770,794 $ 1,608,657
Schedule of Contract Assets and Liabilities	September 30, December 31, 2023 2022 (In thousands) Included in Contracts in progress: Unbilled receivables $ 541,120 $ 521,291 Retainages $ 77,823 $ 48,566 Advance billings on contracts $ 71,990 $ 88,726

Pension Plans and Postretirem_2

Pension Plans and Postretirement Benefits (Tables)	9 Months Ended
	Sep. 30, 2023
Retirement Benefits [Abstract]
Components of Net Periodic Benefit Cost	Pension Benefits Other Benefits Three Months Ended Nine Months Ended Three Months Ended Nine Months Ended 2023 2022 2023 2022 2023 2022 2023 2022 (In thousands) Service cost $ 1,881 $ 2,945 $ 5,639 $ 8,850 $ 86 $ 163 $ 255 $ 494 Interest cost 11,913 7,825 35,772 23,504 538 345 1,607 1,039 Expected return on plan assets (15,113) (20,863) (45,332) (62,619) (634) (738) (1,903) (2,213) Amortization of prior service cost 820 807 2,460 2,421 10 7 30 20 Net periodic benefit income $ (499) $ (9,286) $ (1,461) $ (27,844) $ — $ (223) $ (11) $ (660)

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	9 Months Ended
	Sep. 30, 2023
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, 2023: Total Level 1 Level 2 Level 3 Unclassified (In thousands) Equity securities Mutual funds $ 7,034 $ — $ 7,034 $ — $ — Available-for-sale securities Corporate bonds 1,772 1,772 — — — Total $ 8,806 $ 1,772 $ 7,034 $ — $ — The following is a summary of our investments measured at fair value at December 31, 2022: Total Level 1 Level 2 Level 3 Unclassified (In thousands) Equity securities Mutual funds $ 6,341 $ — $ 6,341 $ — $ — Available-for-sale securities U.S. Government and agency securities 3,253 3,253 — — — Corporate bonds 2,265 1,714 551 — — Asset-backed securities and collateralized mortgage obligations 42 — 42 — — Total $ 11,901 $ 4,967 $ 6,934 $ — $ —

Segment Reporting (Tables)

Segment Reporting (Tables)	9 Months Ended
	Sep. 30, 2023
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 2023 2022 2023 2022 (In thousands) REVENUES: Government Operations $ 477,855 $ 422,521 $ 1,429,708 $ 1,290,835 Commercial Operations 112,359 101,794 342,203 320,266 Eliminations (1) (225) (604) (1,117) (2,444) $ 589,989 $ 523,711 $ 1,770,794 $ 1,608,657 (1) Segment revenues are net of the following intersegment transfers: Government Operations Transfers $ (213) $ (604) $ (1,001) $ (2,378) Commercial Operations Transfers (12) — (116) (66) $ (225) $ (604) $ (1,117) $ (2,444) OPERATING INCOME: Government Operations $ 85,632 $ 77,735 $ 258,400 $ 233,749 Commercial Operations 9,083 6,847 21,613 23,673 $ 94,715 $ 84,582 $ 280,013 $ 257,422 Unallocated Corporate (2) (9,357) (4,704) (20,147) (10,734) Total Operating Income $ 85,358 $ 79,878 $ 259,866 $ 246,688 Other Income (Expense) (7,192) 2,144 (24,087) 10,881 Income before Provision for Income Taxes $ 78,166 $ 82,022 $ 235,779 $ 257,569 (2) Unallocated corporate includes general corporate overhead not allocated to segments.

Earnings Per Share (Tables)

Earnings Per Share (Tables)	9 Months Ended
	Sep. 30, 2023
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 2023 2022 2023 2022 (In thousands, except share and per share amounts) Basic: Net Income Attributable to BWX Technologies, Inc. $ 60,273 $ 61,603 $ 179,962 $ 195,226 Weighted-average common shares 91,659,117 91,407,599 91,596,650 91,455,350 Basic earnings per common share $ 0.66 $ 0.67 $ 1.96 $ 2.13 Diluted: Net Income Attributable to BWX Technologies, Inc. $ 60,273 $ 61,603 $ 179,962 $ 195,226 Weighted-average common shares (basic) 91,659,117 91,407,599 91,596,650 91,455,350 Effect of dilutive securities: Stock options, restricted stock units and performance shares (1) 236,363 247,937 236,800 210,033 Adjusted weighted-average common shares 91,895,480 91,655,536 91,833,450 91,665,383 Diluted earnings per common share $ 0.66 $ 0.67 $ 1.96 $ 2.13 (1) At September 30, 2023 and 2022, we excluded 92,389 and 31,507 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
	Sep. 30, 2023 USD ($)	Sep. 30, 2022 USD ($)	Sep. 30, 2023 USD ($) component segment	Sep. 30, 2022 USD ($)	Dec. 31, 2022 USD ($)
Noncash or Part Noncash Divestitures [Line Items]
Number of reportable segments | segment			2
Number of components supplied to worldwide (more than) | component			1,300
Effective tax rate	22.80%	24.60%	23.70%	24.10%
Restricted cash and cash equivalents	$ 6		$ 6
Total inventories	31.6		31.6		$ 22.9
Net gains on derivative financial instruments			0.4
Recognized (gain) loss on FX forward contracts not designated as hedges	12.6	$ 36.6	3.7	$ 36.2
Notional amount of foreign currency forward contracts	503.7		503.7
Cash Held for Decommissioning of Facilities
Noncash or Part Noncash Divestitures [Line Items]
Restricted cash and cash equivalents	2.9		2.9
Cash Held to Meet Reinsurance Reserve Requirements
Noncash or Part Noncash Divestitures [Line Items]
Restricted cash and cash equivalents	$ 3		$ 3

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, 2023	Dec. 31, 2022	Sep. 30, 2022	Dec. 31, 2021
Accounting Policies [Abstract]
Cash and cash equivalents	$ 50,201	$ 35,244
Restricted cash and cash equivalents	3,022	2,928
Restricted cash and cash equivalents included in Other Assets	2,940	2,818
Total cash and cash equivalents and restricted cash and cash equivalents as presented on our condensed consolidated statements of cash flows	$ 56,163	$ 40,990	$ 56,927	$ 39,775

Basis of Presentation and Sig_6

Basis of Presentation and Significant Accounting Policies - Property, Plant and Equipment (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Property, Plant and Equipment [Line Items]
Property, plant and equipment	$ 2,013,735	$ 1,917,317
Less: Accumulated depreciation	827,670	782,420
Property, Plant and Equipment, Net	1,186,065	1,134,897
Land
Property, Plant and Equipment [Line Items]
Property, plant and equipment	10,621	9,844
Buildings
Property, Plant and Equipment [Line Items]
Property, plant and equipment	377,478	365,955
Machinery and equipment
Property, Plant and Equipment [Line Items]
Property, plant and equipment	1,070,368	1,026,024
Property under construction
Property, Plant and Equipment [Line Items]
Property, plant and equipment	$ 555,268	$ 515,494

Basis of Presentation and Sig_7

Basis of Presentation and Significant Accounting Policies - Accumulated Other Comprehensive Income (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Dec. 31, 2022	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Dec. 31, 2021
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated other comprehensive income (loss)	$ 871,911	$ 841,528	$ 788,008	$ 748,355	$ 712,936	$ 704,350	$ 659,954	$ 637,235
Accumulated Other Comprehensive Income (Loss)
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated other comprehensive income (loss)	(20,395)	$ (7,720)	$ (19,034)	(21,930)	$ (32,280)	$ 3,261	$ 18,179	$ 12,143
Currency translation adjustments
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated other comprehensive income (loss)	(5,075)			(4,207)
Net unrealized gain on derivative financial instruments
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated other comprehensive income (loss)	415			105
Unrecognized prior service cost on benefit obligations
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated other comprehensive income (loss)	(15,953)			(17,955)
Net unrealized gain on available-for-sale investments
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated other comprehensive income (loss)	$ 218			$ 127

Basis of Presentation and Sig_8

Basis of Presentation and Significant Accounting Policies - Schedule of Amounts Reclassified from Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands	3 Months Ended						9 Months Ended
	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Sep. 30, 2023	Sep. 30, 2022
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Revenues	$ 589,989			$ 523,711			$ 1,770,794	$ 1,608,657
Cost of operations	(436,296)			(399,281)			(1,338,750)	(1,217,108)
Total before tax	78,166			82,022			235,779	257,569
Provision for Income Taxes	(17,814)			(20,185)			(55,769)	(61,977)
Other – net	4,340			11,496			9,490	35,401
Net Income	60,352	$ 58,665	$ 60,993	61,837	$ 74,681	$ 59,074	180,010	195,592
Accumulated Other Comprehensive Income (Loss) Component Recognized
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Net Income	(768)			(870)			(1,709)	(2,472)
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	(207)			(152)			(80)	(86)
Cost of operations	76			(142)			474	(612)
Total before tax	(131)			(294)			394	(698)
Provision for Income Taxes	31			74			(101)	178
Net Income	(100)			(220)			293	(520)
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	162			163			488	488
Other – net	(830)			(813)			(2,490)	(2,440)
Net Income	$ (668)			$ (650)			$ (2,002)	$ (1,952)

Acquisitions - Additional Infor

Acquisitions - Additional Information (Detail) - USD ($) $ in Thousands	Apr. 11, 2022	Sep. 30, 2023	Dec. 31, 2022
Business Acquisition [Line Items]
Goodwill		$ 293,603	$ 293,165
Dynamic Controls Limited and Citadel Capital Corporation
Business Acquisition [Line Items]
Business combination, consideration transferred	$ 49,900
Intangible assets	28,500
Business combination, inventory	7,200
Goodwill	17,200
Operating lease, right-of-use assets	7,200
Operating lease, liability	$ 7,200

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 - Additiona

Revenue Recognition - Additional Details (Details) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023 USD ($)	Sep. 30, 2022 USD ($)	Sep. 30, 2023 USD ($) segment	Sep. 30, 2022 USD ($)
Disaggregation of Revenue [Line Items]
Number of reportable segments | segment			2
Net changes in estimate that resulted in increases (decreases) in revenue	$ 17.4	$ 4.2	$ 4.4	$ 1.1
Increase (decrease) in cost operations	(2.5)	2.2	(2.5)	2.2
Net changes in estimate that resulted in a decrease in operating income		11.3		11.3
Revenue recognized from advance billings on contracts	1.1	$ 11.2	70.3	$ 88.5
Revenue, remaining performance obligation, amount	3,980.8		3,980.8
Government Operations
Disaggregation of Revenue [Line Items]
Net changes in estimate that resulted in increases (decreases) in revenue	20.4		20
Increase (decrease) in cost operations	$ (2.5)		$ (2.5)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-10-01
Disaggregation of Revenue [Line Items]
Revenue, remaining performance obligation, percentage	57%		57%
Remaining performance obligation, expected timing of satisfaction, period	3 months		3 months

Revenue Recognition - Disaggreg

Revenue Recognition - Disaggregated Revenues (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Disaggregation of Revenue [Line Items]
Revenues	$ 589,989	$ 523,711	$ 1,770,794	$ 1,608,657
Fixed-Price Incentive Fee
Disaggregation of Revenue [Line Items]
Revenues	303,617	311,358	929,834	942,247
Firm-Fixed-Price
Disaggregation of Revenue [Line Items]
Revenues	160,531	116,529	481,694	414,100
Cost-Plus Fee
Disaggregation of Revenue [Line Items]
Revenues	83,549	65,679	242,774	161,167
Time-and-Materials
Disaggregation of Revenue [Line Items]
Revenues	42,517	30,749	117,609	93,587
Over time
Disaggregation of Revenue [Line Items]
Revenues	574,783	509,618	1,707,040	1,568,399
Point-in-time
Disaggregation of Revenue [Line Items]
Revenues	15,431	14,697	64,871	42,702
Operating Segments
Disaggregation of Revenue [Line Items]
Revenues	590,214	524,315	1,771,911	1,611,101
Operating Segments | Government Operations
Disaggregation of Revenue [Line Items]
Revenues	477,855	422,521	1,429,708	1,290,835
Operating Segments | Government Operations | Fixed-Price Incentive Fee
Disaggregation of Revenue [Line Items]
Revenues	301,392	308,827	920,821	935,200
Operating Segments | Government Operations | Firm-Fixed-Price
Disaggregation of Revenue [Line Items]
Revenues	87,812	47,359	259,853	191,597
Operating Segments | Government Operations | Cost-Plus Fee
Disaggregation of Revenue [Line Items]
Revenues	83,549	65,679	242,774	161,167
Operating Segments | Government Operations | Time-and-Materials
Disaggregation of Revenue [Line Items]
Revenues	5,102	656	6,260	2,871
Operating Segments | Government Operations | Over time
Disaggregation of Revenue [Line Items]
Revenues	473,778	422,459	1,415,319	1,290,745
Operating Segments | Government Operations | Point-in-time
Disaggregation of Revenue [Line Items]
Revenues	4,077	62	14,389	90
Operating Segments | Commercial Operations
Disaggregation of Revenue [Line Items]
Revenues	112,359	101,794	342,203	320,266
Operating Segments | Commercial Operations | Fixed-Price Incentive Fee
Disaggregation of Revenue [Line Items]
Revenues	2,225	2,531	9,013	7,047
Operating Segments | Commercial Operations | Firm-Fixed-Price
Disaggregation of Revenue [Line Items]
Revenues	72,719	69,170	221,841	222,503
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	37,415	30,093	111,349	90,716
Operating Segments | Commercial Operations | Over time
Disaggregation of Revenue [Line Items]
Revenues	101,005	87,159	291,721	277,654
Operating Segments | Commercial Operations | Point-in-time
Disaggregation of Revenue [Line Items]
Revenues	11,354	14,635	50,482	42,612
Eliminations
Disaggregation of Revenue [Line Items]
Revenues	(225)	(604)	(1,117)	(2,444)
Eliminations | Government Operations
Disaggregation of Revenue [Line Items]
Revenues	(213)	(604)	(1,001)	(2,378)
Eliminations | Commercial Operations
Disaggregation of Revenue [Line Items]
Revenues	(12)	0	(116)	(66)
United States:
Disaggregation of Revenue [Line Items]
Revenues	489,563	426,753	1,458,444	1,305,657
United States: | Operating Segments | Government Operations
Disaggregation of Revenue [Line Items]
Revenues	474,241	419,053	1,416,926	1,281,887
United States: | Operating Segments | Commercial Operations
Disaggregation of Revenue [Line Items]
Revenues	15,322	7,700	41,518	23,770
Canada:
Disaggregation of Revenue [Line Items]
Revenues	93,155	90,801	286,948	285,775
Canada: | Operating Segments | Government Operations
Disaggregation of Revenue [Line Items]
Revenues	251	658	932	2,477
Canada: | Operating Segments | Commercial Operations
Disaggregation of Revenue [Line Items]
Revenues	92,904	90,143	286,016	283,298
Other:
Disaggregation of Revenue [Line Items]
Revenues	7,496	6,761	26,519	19,669
Other: | Operating Segments | Government Operations
Disaggregation of Revenue [Line Items]
Revenues	3,363	2,810	11,850	6,471
Other: | Operating Segments | Commercial Operations
Disaggregation of Revenue [Line Items]
Revenues	4,133	3,951	14,669	13,198
Government | United States:
Disaggregation of Revenue [Line Items]
Revenues	427,237	402,300	1,318,149	1,219,340
Government | United States: | Operating Segments | Government Operations
Disaggregation of Revenue [Line Items]
Revenues	427,237	402,300	1,318,149	1,219,340
Government | United States: | Operating Segments | Commercial Operations
Disaggregation of Revenue [Line Items]
Revenues	0	0	0	0
Government | Canada:
Disaggregation of Revenue [Line Items]
Revenues	90	0	178	0
Government | Canada: | Operating Segments | Government Operations
Disaggregation of Revenue [Line Items]
Revenues	90	0	178	0
Government | Canada: | Operating Segments | Commercial Operations
Disaggregation of Revenue [Line Items]
Revenues	0	0	0	0
Government | Other:
Disaggregation of Revenue [Line Items]
Revenues	1,008	346	3,311	1,071
Government | Other: | Operating Segments | Government Operations
Disaggregation of Revenue [Line Items]
Revenues	1,008	346	3,311	1,071
Government | Other: | Operating Segments | Commercial Operations
Disaggregation of Revenue [Line Items]
Revenues	0	0	0	0
Non-Government | United States:
Disaggregation of Revenue [Line Items]
Revenues	62,326	24,453	140,295	86,317
Non-Government | United States: | Operating Segments | Government Operations
Disaggregation of Revenue [Line Items]
Revenues	47,004	16,753	98,777	62,547
Non-Government | United States: | Operating Segments | Commercial Operations
Disaggregation of Revenue [Line Items]
Revenues	15,322	7,700	41,518	23,770
Non-Government | Canada:
Disaggregation of Revenue [Line Items]
Revenues	93,065	90,801	286,770	285,775
Non-Government | Canada: | Operating Segments | Government Operations
Disaggregation of Revenue [Line Items]
Revenues	161	658	754	2,477
Non-Government | Canada: | Operating Segments | Commercial Operations
Disaggregation of Revenue [Line Items]
Revenues	92,904	90,143	286,016	283,298
Non-Government | Other:
Disaggregation of Revenue [Line Items]
Revenues	6,488	6,415	23,208	18,598
Non-Government | Other: | Operating Segments | Government Operations
Disaggregation of Revenue [Line Items]
Revenues	2,355	2,464	8,539	5,400
Non-Government | Other: | Operating Segments | Commercial Operations
Disaggregation of Revenue [Line Items]
Revenues	$ 4,133	$ 3,951	$ 14,669	$ 13,198

Revenue Recognition - Contract

Revenue Recognition - Contract Assets and Liabilities (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Contracts with Customers, Asset and Liability [Line Items]
Advance billings on contracts	$ 71,990	$ 88,726
Unbilled receivables
Contracts with Customers, Asset and Liability [Line Items]
Contract with customer, asset	541,120	521,291
Retainages
Contracts with Customers, Asset and Liability [Line Items]
Contract with customer, asset	$ 77,823	$ 48,566

Pension Plans and Postretirem_3

Pension Plans and Postretirement Benefits - Additional Details (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Retirement Benefits [Abstract]
Service cost	$ 2	$ 3.1	$ 5.9	$ 9.3
Net periodic benefit (income) cost, excluding service costs	$ (2.5)	$ (12.6)	$ (7.4)	$ (37.8)

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, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Defined Benefit Plan Disclosure [Line Items]
Service cost	$ 2,000	$ 3,100	$ 5,900	$ 9,300
Pension Benefits
Defined Benefit Plan Disclosure [Line Items]
Service cost	1,881	2,945	5,639	8,850
Interest cost	11,913	7,825	35,772	23,504
Expected return on plan assets	(15,113)	(20,863)	(45,332)	(62,619)
Amortization of prior service cost	820	807	2,460	2,421
Net periodic benefit income	(499)	(9,286)	(1,461)	(27,844)
Other Benefits
Defined Benefit Plan Disclosure [Line Items]
Service cost	86	163	255	494
Interest cost	538	345	1,607	1,039
Expected return on plan assets	(634)	(738)	(1,903)	(2,213)
Amortization of prior service cost	10	7	30	20
Net periodic benefit income	$ 0	$ (223)	$ (11)	$ (660)

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, 2023	Dec. 31, 2022
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total	$ 8,806	$ 11,901
Mutual funds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity securities	7,034	6,341
U.S. Government and agency securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities		3,253
Corporate bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	1,772	2,265
Asset-backed securities and collateralized mortgage obligations
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities		42
Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total	1,772	4,967
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		3,253
Level 1 | Corporate bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	1,772	1,714
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
Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total	7,034	6,934
Level 2 | Mutual funds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity securities	7,034	6,341
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
Level 2 | Corporate bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities	0	551
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		42
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
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

Fair Value Measurements - Addit

Fair Value Measurements - Additional Information (Details) - USD ($) $ in Millions	Sep. 30, 2023	Dec. 31, 2022
Fair Values Of Financial Instruments [Line Items]
Note receivable	$ 7.3
Senior Notes | Senior Notes Due 2028
Fair Values Of Financial Instruments [Line Items]
Stated interest rate	4.125%
Fair value of senior notes	$ 352.2	$ 358
Senior Notes | Senior Notes Due 2029
Fair Values Of Financial Instruments [Line Items]
Stated interest rate	4.125%
Fair value of senior notes	$ 347.2	352
FX Forward Contracts
Fair Values Of Financial Instruments [Line Items]
Fair value of foreign currency forward contracts	$ 5.4	$ 1.2

Stock-Based Compensation - Addi

Stock-Based Compensation - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Share-Based Payment Arrangement [Abstract]
Stock based compensation expense	$ 3.7	$ 3.2	$ 12.5	$ 12.4
Stock-based compensation, tax benefits	$ 0.5	$ 0.5	$ 2	$ 2.1

Segment Reporting - Additional

Segment Reporting - Additional Information (Details)	9 Months Ended
	Sep. 30, 2023 segment
Segment Reporting, Disclosure of Entity's Reportable Segments [Abstract]
Number of reportable segments	2

Segment Reporting - Schedule of

Segment Reporting - Schedule of Operating Results by Segment (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Segment Reporting, Other Significant Reconciling Item [Line Items]
Revenues	$ 589,989	$ 523,711	$ 1,770,794	$ 1,608,657
OPERATING INCOME:
Total Operating Income	85,358	79,878	259,866	246,688
Other Income (Expense)	(7,192)	2,144	(24,087)	10,881
Income before Provision for Income Taxes	78,166	82,022	235,779	257,569
Operating Segments
Segment Reporting, Other Significant Reconciling Item [Line Items]
Revenues	590,214	524,315	1,771,911	1,611,101
OPERATING INCOME:
Total Operating Income	94,715	84,582	280,013	257,422
Operating Segments | Government Operations
Segment Reporting, Other Significant Reconciling Item [Line Items]
Revenues	477,855	422,521	1,429,708	1,290,835
OPERATING INCOME:
Total Operating Income	85,632	77,735	258,400	233,749
Operating Segments | Commercial Operations
Segment Reporting, Other Significant Reconciling Item [Line Items]
Revenues	112,359	101,794	342,203	320,266
OPERATING INCOME:
Total Operating Income	9,083	6,847	21,613	23,673
Eliminations
Segment Reporting, Other Significant Reconciling Item [Line Items]
Revenues	(225)	(604)	(1,117)	(2,444)
Eliminations | Government Operations
Segment Reporting, Other Significant Reconciling Item [Line Items]
Revenues	(213)	(604)	(1,001)	(2,378)
Eliminations | Commercial Operations
Segment Reporting, Other Significant Reconciling Item [Line Items]
Revenues	(12)	0	(116)	(66)
Unallocated Corporate
OPERATING INCOME:
Total Operating Income	$ (9,357)	$ (4,704)	$ (20,147)	$ (10,734)

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, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Basic:
Net Income Attributable to BWX Technologies, Inc.	$ 60,273	$ 61,603	$ 179,962	$ 195,226
Weighted-average common shares (in shares)	91,659,117	91,407,599	91,596,650	91,455,350
Basic earnings per common share (in usd per share)	$ 0.66	$ 0.67	$ 1.96	$ 2.13
Diluted:
Net Income Attributable to BWX Technologies, Inc.	$ 60,273	$ 61,603	$ 179,962	$ 195,226
Weighted-average common shares (in shares)	91,659,117	91,407,599	91,596,650	91,455,350
Effect of dilutive securities:
Stock options, restricted stock units and performance shares (in shares)	236,363	247,937	236,800	210,033
Adjusted weighted-average common shares (in shares)	91,895,480	91,655,536	91,833,450	91,665,383
Diluted earnings per common share (in usd per share)	$ 0.66	$ 0.67	$ 1.96	$ 2.13
Number of shares that would be antidilutive (in shares)			92,389	31,507