BWX Technologies Inc
For the period ended Mar 31, 2024. Filed May 6, 2024.
View on SEC.govAbout this filing
A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2024 · Filed May 6, 2024
BWXT$126.64-1.1%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Condensed Consolidated Statements of Cash Flows
| Three Months Ended March 31, | ||
|---|---|---|
| 2024 | 2023 | |
| (Unaudited) (In thousands) | ||
| CASH FLOWS FROM OPERATING ACTIVITIES: | ||
| Net Income | $68,534 | $60,993 |
| Adjustments to reconcile net income to net cash provided by operating activities: | ||
| Depreciation and amortization | 20,552 | 19,020 |
| Income of investees, net of dividends | (2,400) | (5,855) |
| Recognition of losses for pension and postretirement plans | 831 | 830 |
| Stock-based compensation expense | 4,297 | 3,893 |
| Other, net | 129 | 495 |
| Changes in assets and liabilities, net of effects from acquisitions: | ||
| Accounts receivable | (15,493) | (4,268) |
| Accounts payable | 32,832 | 8,135 |
| Retainages | (26,325) | (33,276) |
| Contracts in progress and advance billings on contracts | (17,174) | (27,471) |
| Income taxes | 17,820 | 3,096 |
| Accrued and other current liabilities | (2,025) | (9,315) |
| Pension liabilities, accrued postretirement benefit obligations and employee benefits | (27,687) | (23,097) |
| Other, net | (20,865) | (6,204) |
| NET CASH PROVIDED BY (USED IN) OPERATING ACTIVITIES | 33,026 | (13,024) |
| CASH FLOWS FROM INVESTING ACTIVITIES: | ||
| Purchases of property, plant and equipment | (30,422) | (29,780) |
| Purchases of securities | — | (1,431) |
| Sales and maturities of securities | — | 1,425 |
| Other, net | 99 | 6 |
| NET CASH USED IN INVESTING ACTIVITIES | (30,323) | (29,780) |
| CASH FLOWS FROM FINANCING ACTIVITIES: | ||
| Borrowings of long-term debt | 120,700 | 127,000 |
| Repayments of long-term debt | (102,263) | (48,563) |
| Repurchases of common stock | (20,000) | — |
| Dividends paid to common shareholders | (22,396) | (21,667) |
| Cash paid for shares withheld to satisfy employee taxes | (6,907) | (6,903) |
| Settlements of forward contracts, net | (1,337) | (535) |
| Other, net | 47 | 4 |
| NET CASH (USED IN) PROVIDED BY FINANCING ACTIVITIES | (32,156) | 49,336 |
| EFFECTS OF EXCHANGE RATE CHANGES ON CASH | (171) | 7 |
| TOTAL (DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS AND RESTRICTED CASH AND CASH EQUIVALENTS | (29,624) | 6,539 |
| CASH AND CASH EQUIVALENTS AND RESTRICTED CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD | 81,615 | 40,990 |
| CASH AND CASH EQUIVALENTS AND RESTRICTED CASH AND CASH EQUIVALENTS AT END OF PERIOD | $51,991 | $47,529 |
| SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION: | ||
| Cash paid during the period for: | ||
| Interest | $15,461 | $8,174 |
| Income taxes (net of refunds) | $2,161 | $15,474 |
| SCHEDULE OF NON-CASH INVESTING ACTIVITY: | ||
| Accrued capital expenditures included in accounts payable | $6,612 | $11,824 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.