BWX Technologies(BWXT)2023-02-22 16:00Revenue Recognition - The company expects to recognize approximately 42% of the revenue associated with its backlog by the end of 2023, with the remainder to be recognized thereafter[35]. Government Operations - The Government Operations segment's revenues are largely driven by national security spending by the U.S. Government, with no negative impact from federal budget reductions to date[36]. - The company is a significant participant in the defense industry, supplying high-end equipment for U.S. Navy submarines and aircraft carriers[36]. Financial Position - The company had 497.5 million available under the Credit Facility as of December 31, 2022[429]. - The company has an aggregate principal amount of 400.0 million due 2029[429]. Business Segments - The company operates in two reportable segments: Government Operations and Commercial Operations, reflecting a strategic alignment of its businesses[33]. Growth Strategies - The company is exploring growth strategies through strategic investments and acquisitions, expecting to fund these opportunities with cash generated from operations or by raising additional capital[32]. Valuation Approaches - The company utilizes both income and market valuation approaches to assess the fair value of its reporting units, which may be affected by external market conditions[28][29]. Pension and Benefits - The company recognizes net actuarial gains and losses in earnings in the fourth quarter, which can significantly impact estimated pension and postretirement benefit costs[24]. Joint Ventures - The company’s operations include joint ventures that typically earn fees, accounted for using the equity method[37].