BWX Technologies Inc
For the period ended Dec 31, 2024. Filed Feb 24, 2025.
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FY2024 · Filed Feb 24, 2025
BWXT$126.64-1.1%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Item 8. Consolidated Statements of Cash Flows
| Year Ended December 31, | |||
|---|---|---|---|
| 2024 | 2023 | 2022 | |
| CASH FLOWS FROM OPERATING ACTIVITIES: · (In thousands) | |||
| Net Income | $282,298 | $246,321 | $238,620 |
| Adjustments to reconcile net income to net cash provided by operating activities: | |||
| Depreciation and amortization | 85,862 | 78,566 | 73,842 |
| Income of investees, net of dividends | (10,598) | 11,130 | (3,461) |
| Losses on asset disposals and impairments - net | 4,390 | 1,034 | 5,520 |
| Provision for deferred taxes | 19,845 | (5,128) | 5,515 |
| Recognition of (gains) losses for pension and postretirement plans | 14,147 | 34,087 | 49,868 |
| Stock-based compensation expense | 21,680 | 15,896 | 14,127 |
| Other, net | (83) | (1,530) | 2,175 |
| Changes in assets and liabilities, net of effects from acquisitions: | |||
| Accounts receivable | (47,571) | 462 | 15,167 |
| Accounts payable | 34,532 | (9,025) | (40,495) |
| Retainages | 21,514 | (6,615) | 4,189 |
| Contracts in progress and advance billings on contracts | (7,155) | 28,868 | (38,615) |
| Income taxes | 1,650 | (4,786) | (764) |
| Accrued and other current liabilities | 865 | (9,754) | (18,948) |
| Pension liabilities, accrued postretirement benefit obligations and employee benefits | 881 | (6,964) | (68,535) |
| Other, net | (13,829) | (8,861) | 6,499 |
| NET CASH PROVIDED BY OPERATING ACTIVITIES | 408,428 | 363,701 | 244,704 |
| CASH FLOWS FROM INVESTING ACTIVITIES: | |||
| Purchases of property, plant and equipment | (153,647) | (151,286) | (198,312) |
| Acquisition of businesses | — | — | (47,328) |
| Purchases of securities | — | (2,343) | (3,803) |
| Sales and maturities of securities | — | 5,996 | 3,813 |
| Investments, net of return of capital, in equity method investees | (197) | — | (11,450) |
| Other, net | (717) | (8,009) | 844 |
| NET CASH USED IN INVESTING ACTIVITIES | (154,561) | (155,642) | (256,236) |
| CASH FLOWS FROM FINANCING ACTIVITIES: | |||
| Borrowings of long-term debt | 456,000 | 353,100 | 978,200 |
| Repayments of long-term debt | (612,250) | (434,350) | (878,200) |
| Payment of debt issuance costs | — | — | (2,405) |
| Repurchases of common stock | (20,000) | — | (20,000) |
| Dividends paid to common shareholders | (88,349) | (84,974) | (81,074) |
| Cash paid for shares withheld to satisfy employee taxes | (7,570) | (7,592) | (6,588) |
| Settlements of forward contracts, net | 19,591 | 3,689 | 24,013 |
| Other, net | (207) | 756 | 6 |
| NET CASH (USED IN) PROVIDED BY FINANCING ACTIVITIES | (252,785) | (169,371) | 13,952 |
| EFFECTS OF EXCHANGE RATE CHANGES ON CASH | (2,126) | 1,937 | (1,205) |
| TOTAL (DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS AND RESTRICTED CASH AND CASH EQUIVALENTS | (1,044) | 40,625 | 1,215 |
| CASH AND CASH EQUIVALENTS AND RESTRICTED CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD | 81,615 | 40,990 | 39,775 |
| CASH AND CASH EQUIVALENTS AND RESTRICTED CASH AND CASH EQUIVALENTS AT END OF PERIOD | $80,571 | $81,615 | $40,990 |
| SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION: | |||
| Cash paid during the period for: | |||
| Interest | $72,426 | $63,216 | $51,343 |
| Income taxes (net of refunds) | $45,508 | $84,478 | $71,755 |
| SCHEDULE OF NON-CASH INVESTING ACTIVITY: | |||
| Accrued capital expenditures included in accounts payable | $17,537 | $7,105 | $9,588 |
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