Related Party Transactions

9 Months Ended

Sep. 30, 2015

Related Party Transactions [Abstract]

Related Party Transactions

RELATED PARTY TRANSACTIONS

In connection with the spin-off, BWC changed its name to BWX Technologies, Inc. We were a party to transactions with our former Parent and its subsidiaries in the normal course of operations. These transactions prior to the June 30, 2015 spin-off included the following:

	Six Months Ended June 30, 2015 (1)		Three Months Ended September 30, 2014		Nine Months Ended September 30, 2014
	(In thousands)
Sales to our former Parent	$	911	$	1,192	$	5,412
Corporate administrative expense	$	35,343	$	18,332	$	54,996

⁽¹⁾ After the spin-off transaction on June 30, 2015, we no longer consider the former Parent to be a Related Party.

Guarantees

As of September 30, 2015, our former Parent has outstanding performance guarantees for various projects executed by us. These projects are all in the normal course of business. These guarantees, based on original contract value, total approximately $1.3 billion and range in expiration dates from 2015 to 2035. We are contractually obligated to use our commercially reasonable efforts to terminate all existing guarantees by one party of obligations relating to the business of the other party, including financial, performance and other guarantee obligations.

Net transfers from former Parent

Net transfers from former Parent represent the change in our former Parent's historical investment in us. It primarily includes the net effect of cost allocations from transactions with our former Parent, sales to our former Parent, and the net transfers of cash and assets to our former Parent prior to the spin-off. After the spin-off transaction on June 30, 2015, there have been no significant transfers to or from our former Parent.

	Six Months Ended June 30,			Three Months Ended   September 30,		Nine Months Ended   September 30,
	2015			2014		2014
	(In thousands)
Sales to former Parent	$	911		$	1,192	$	5,412
Corporate administrative expenses	35,343			18,332		54,996
Income tax allocation	11,872			3,610		(2,874		)
Acquisition of business, net of cash acquired	—			—		127,704
Cash pooling and general financing activities	(91,015		)	8,162		69,760
Cash contribution received at spin-off	125,300			—		—
Net transfer from former Parent per statement of cash flows	$	80,589		$	28,912	$	244,174
Non-cash items:
Net transfer of assets and liabilities	44,706			301		301
Distribution of Nuclear Energy segment	(47,839		)	—		—
Net transfer from former Parent per statement of shareholders’ equity	$	77,456		$	29,213	$	244,475