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Basis of Presentation and Significant Accounting Policies (Tables) | 12 Months Ended
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Dec. 31, 2023
Accounting Policies [Abstract] |
Restrictions on Cash and Cash Equivalents | The following table provides a reconciliation of cash and cash equivalents and restricted cash and cash equivalents on our consolidated balance sheets to the totals presented on our consolidated statements of cash flows:
|  | December 31,
|  | 2023 |  | 2022
|  | (In thousands)
Cash and cash equivalents |  | $ | 75,766 |  |  | $ | 35,244 |
Restricted cash and cash equivalents |  | 2,858 |  |  | 2,928 |
Restricted cash and cash equivalents included in Other Assets |  | 2,991 |  |  | 2,818 |
Total cash and cash equivalents and restricted cash and cash equivalents as presented on our consolidated statements of cash flows |  | $ | 81,615 |  |  | $ | 40,990 |
Property, Plant and Equipment | Property, plant and equipment is stated at cost and is set forth below:
|  | December 31,
|  | 2023 |  | 2022
|  | (In thousands)
Land |  | $ | 10,627 |  |  | $ | 9,844 |
Buildings |  | 381,081 |  |  | 365,955 |
Machinery and equipment |  | 1,108,504 |  |  | 1,026,024 |
Property under construction |  | 571,758 |  |  | 515,494 |
|  | 2,071,970 |  |  | 1,917,317 |
Less: Accumulated depreciation |  | 843,450 |  |  | 782,420 |
Property, Plant and Equipment, Net |  | $ | 1,228,520 |  |  | $ | 1,134,897 |
Changes in Carrying Amount of Goodwill | The following summarizes the changes in the carrying amount of Goodwill:
|  | Government Operations |  | Commercial Operations |  |  |  | Total
|  | (In thousands)
Balance at December 31, 2021 |  | $ | 155,939 |  |  | $ | 129,563 |  |  |  |  | $ | 285,502 |
Acquisition (Note 2) |  | 16,609 |  |  | — |  |  |  |  | 16,609 |
Translation |  | (461) |  |  | (8,485) |  |  |  |  | (8,946) |
Balance at December 31, 2022 |  | $ | 172,087 |  |  | $ | 121,078 |  |  |  |  | $ | 293,165 |
Purchase price adjustment |  | 588 |  |  | — |  |  |  |  | 588 |
Translation |  | 578 |  |  | 2,689 |  |  |  |  | 3,267 |
Balance at December 31, 2023 |  | $ | 173,253 |  |  | $ | 123,767 |  |  |  |  | $ | 297,020 |
Schedule of Intangible Assets | Our Intangible Assets were as follows:
|  | December 31,
|  | 2023 |  | 2022 |  | 2021
|  | (In thousands)
Amortized intangible assets: |  |  |  |  |  |
Gross cost: |  |  |  |  |  |
Technical support agreement |  | $ | 66,562 |  |  | $ | 65,069 |  |  | $ | 69,781 |
Customer relationships |  | 57,103 |  |  | 56,176 |  |  | 40,247 |
Unpatented technology |  | 40,540 |  |  | 39,609 |  |  | 38,073 |
CNSC class 1B nuclear facility license |  | 25,670 |  |  | 25,094 |  |  | 26,911 |
Acquired backlog |  | 13,882 |  |  | 13,537 |  |  | 7,595 |
Patented technology |  | 755 |  |  | 738 |  |  | 792 |
All other |  | 831 |  |  | 812 |  |  | 871 |
Total |  | $ | 205,343 |  |  | $ | 201,035 |  |  | $ | 184,270 |
Accumulated amortization: |  |  |  |  |  |
Technical support agreement |  | $ | (15,676) |  |  | $ | (12,495) |  |  | $ | (10,366) |
Customer relationships |  | (23,649) |  |  | (20,590) |  |  | (18,176) |
Unpatented technology |  | (10,345) |  |  | (7,966) |  |  | (6,398) |
CNSC class 1B nuclear facility license |  | (6,023) |  |  | (5,052) |  |  | (4,521) |
Acquired backlog |  | (7,116) |  |  | (4,474) |  |  | (2,531) |
Patented technology |  | (483) |  |  | (405) |  |  | (363) |
All other |  | (371) |  |  | (271) |  |  | (194) |
Total |  | $ | (63,663) |  |  | $ | (51,253) |  |  | $ | (42,549) |
Net amortized intangible assets |  | $ | 141,680 |  |  | $ | 149,782 |  |  | $ | 141,721 |
Unamortized intangible assets: |  |  |  |  |  |
NRC category 1 license |  | $ | 43,830 |  |  | $ | 43,830 |  |  | $ | 43,830 |
Changes in Carrying Amount of Intangible Assets | The following summarizes the changes in the carrying amount of Intangible Assets:
|  | Year Ended December 31,
|  | 2023 |  | 2022 |  | 2021
|  | (In thousands)
Balance at beginning of period |  | $ | 193,612 |  |  | $ | 185,551 |  |  | $ | 192,751 |
Acquisitions (Note 2) |  | — |  |  | 28,500 |  |  | — |
Amortization expense |  | (11,396) |  |  | (10,901) |  |  | (9,329) |
Translation |  | 3,294 |  |  | (9,538) |  |  | 2,129 |
Balance at end of period |  | $ | 185,510 |  |  | $ | 193,612 |  |  | $ | 185,551 |
Estimated Amortization Expense | Estimated amortization expense for the next five fiscal years is as follows (amounts in thousands):
Year Ended December 31, | Amount
2024 | $ | 11,579 |
2025 | $ | 11,579 |
2026 | $ | 10,371 |
2027 | $ | 8,750 |
2028 | $ | 7,986 |
Maturities of Lease Liabilities | The maturities of our lease liabilities at December 31, 2023 were as follows (amounts in thousands):
2024 |  | $ | 4,131 |
2025 |  | $ | 3,796 |
2026 |  | $ | 2,858 |
2027 |  | $ | 1,989 |
2028 |  | $ | 1,747 |
Thereafter |  | $ | 13,573 |
Total lease payments |  | $ | 28,094 |
Less: Interest |  | $ | (7,860) |
Present value of lease liabilities (1) |  | $ | 20,234 |
(1)Includes current lease liabilities of $4.0 million.
Changes in Carrying Amount of Debt Issuance Costs | The following summarizes the changes in the carrying amount of these assets:
|  | Year Ended December 31,
|  | 2023 |  | 2022 |  | 2021
|  | (In thousands)
Balance at beginning of period |  | $ | 11,126 |  |  | $ | 10,696 |  |  | $ | 12,269 |
Additions |  | — |  |  | 2,405 |  |  | 4,838 |
Interest expense |  | (2,048) |  |  | (1,975) |  |  | (6,411) |
Balance at end of period |  | $ | 9,078 |  |  | $ | 11,126 |  |  | $ | 10,696 |
Asset Retirement Obligations | The following summarizes the changes in the carrying amount of these liabilities:
|  | Year Ended December 31,
|  | 2023 |  | 2022 |  | 2021
|  | (In thousands)
Balance at beginning of period |  | $ | 82,512 |  |  | $ | 84,132 |  |  | $ | 78,110 |
Costs incurred |  | (3,471) |  |  | (1,223) |  |  | (215) |
Additions/adjustments |  | (6,512) |  |  | (4,289) |  |  | — |
Accretion |  | 6,939 |  |  | 5,158 |  |  | 5,996 |
Translation |  | 73 |  |  | (1,266) |  |  | 241 |
Balance at end of period (1) |  | $ | 79,541 |  |  | $ | 82,512 |  |  | $ | 84,132 |
(1)Includes current asset retirement obligations of $2.3 million, $4.7 million and $4.7 million at December 31, 2023, 2022 and 2021, respectively.
Accumulated Other Comprehensive Income | The components of Accumulated other comprehensive income (loss) included in Stockholders' Equity are as follows:
|  | December 31,
|  | 2023 |  | 2022
|  | (In thousands)
Currency translation adjustments |  | $ | 8,669 |  |  | $ | (4,207) |
Net unrealized gain on derivative financial instruments |  | 558 |  |  | 105 |
Unrecognized prior service cost on benefit obligations |  | (16,917) |  |  | (17,955) |
Net unrealized gain on available-for-sale investments |  | 227 |  |  | 127 |
Accumulated other comprehensive income (loss) |  | $ | (7,463) |  |  | $ | (21,930) |
Schedule of Amounts Reclassified from Accumulated Other Comprehensive Income | The amounts reclassified out of Accumulated other comprehensive income (loss) by component and the affected consolidated statements of income line items are as follows:
|  | Year Ended December 31, |  |
|  | 2023 |  | 2022 |  | 2021 |  |
Accumulated Other Comprehensive Income (Loss) Component Recognized |  | (In thousands) |  | Line Item Presented
Realized (loss) gain on derivative financial instruments |  | $ | (72) |  |  | $ | (370) |  |  | $ | 307 |  |  | Revenues
|  | 427 |  |  | (343) |  |  | (712) |  |  | Cost of operations
|  | 355 |  |  | (713) |  |  | (405) |  |  | Total before tax
|  | (91) |  |  | 181 |  |  | 103 |  |  | Provision for Income Taxes
|  | $ | 264 |  |  | $ | (532) |  |  | $ | (302) |  |  | Net Income
Amortization of prior service cost on benefit obligations |  | $ | (3,278) |  |  | $ | (3,283) |  |  | $ | (2,919) |  |  | Other – net
|  | 609 |  |  | 657 |  |  | 624 |  |  | Provision for Income Taxes
|  | $ | (2,669) |  |  | $ | (2,626) |  |  | $ | (2,295) |  |  | Net Income
Total reclassification for the period |  | $ | (2,405) |  |  | $ | (3,158) |  |  | $ | (2,597) |  |  |

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