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Quarterly Financial Data (Unaudited)
 12 Months Ended
Dec. 31, 2023
Quarterly Financial Information Disclosure [Abstract]  
Quarterly Financial Data (Unaudited) QUARTERLY FINANCIAL DATA (UNAUDITED)
The following tables set forth selected unaudited quarterly financial information for the years ended December 31, 2023 and 2022:
 Year Ended December 31, 2023
Quarter Ended
 March 31,
2023		June 30,
2023		September 30,
2023		December 31,
2023
 (In thousands, except per share amounts)
Revenues
$568,360 $612,445 $589,989 $725,515 
Operating income (1)
$87,842 $86,666 $85,358 $123,193 
Equity in income of investees
$13,645 $12,568 $12,649 $11,945 
Net Income Attributable to BWX Technologies, Inc.
$61,092 $58,597 $60,273 $65,887 
Earnings per common share:
Basic:
Net Income Attributable to BWX Technologies, Inc.$0.67 $0.64 $0.66 $0.72 
Diluted:
Net Income Attributable to BWX Technologies, Inc.$0.67 $0.64 $0.66 $0.72 
(1)Includes equity in income of investees.
 Year Ended December 31, 2022
Quarter Ended
 March 31,
2022		June 30,
2022		September 30,
2022		December 31,
2022
 (In thousands, except per share amounts)
Revenues
$530,738 $554,208 $523,711 $624,177 
Operating income (1)
$71,573 $95,237 $79,878 $101,883 
Equity in income of investees
$8,779 $11,319 $14,783 $11,092 
Net Income Attributable to BWX Technologies, Inc.
$59,010 $74,613 $61,603 $42,965 
Earnings per common share:
Basic:
Net Income Attributable to BWX Technologies, Inc.$0.64 $0.82 $0.67 $0.47 
Diluted:
Net Income Attributable to BWX Technologies, Inc.$0.64 $0.82 $0.67 $0.47 
(1)Includes equity in income of investees.
In the quarter ended December 31, 2023, we recognized favorable contract adjustments totaling $27.9 million as a result of the successful negotiation of change orders related to cost growth that was driven by out-of-scope changes associated with the manufacture of non-nuclear components. In the quarter ended September 30, 2023, we recognized $22.5 million of favorable contract adjustments related to a nuclear operations contract. In the quarter ended June 30, 2022, we recognized an unfavorable contract adjustment of $11.3 million related to the manufacture of non-nuclear components.
We immediately recognize actuarial gains (losses) for our pension and postretirement benefit plans in earnings as a component of net periodic benefit cost. Recorded in the quarters ended December 31, 2023 and 2022, the effects of these adjustments on pre-tax income were $(30.8) million and $(46.6) million, respectively.