v3.24.0.1
Segment Reporting
 12 Months Ended
Dec. 31, 2023
Segment Reporting [Abstract]  
Segment Reporting SEGMENT REPORTING
As described in Note 1, our operations are assessed based on two reportable segments. The operations of our segments are managed separately, and each segment has unique technology, services and customer classes. We account for intersegment sales at prices that we generally establish by reference to similar transactions with unaffiliated customers. Reportable segments are measured based on operating income exclusive of general corporate expenses and gains (losses) on sales of corporate assets.
1. Information about our Segments:
 Year Ended December 31,
 202320222021
 (In thousands)
REVENUES:
Government Operations$2,031,337 $1,808,483 $1,725,097 
Commercial Operations466,344 427,358 407,082 
Eliminations(1,372)(3,007)(8,105)
$2,496,309 $2,232,834 $2,124,074 
OPERATING INCOME:
Government Operations$374,682 $336,501 $329,549 
Commercial Operations37,532 27,418 35,243 
$412,214 $363,919 $364,792 
Unallocated Corporate (1)
(29,155)(15,348)(18,944)
Total Operating Income (2)
$383,059 $348,571 $345,848 
Other Income (Expense)(61,659)(34,194)49,865 
Income before Provision for Income Taxes$321,400 $314,377 $395,713 
(1)Unallocated Corporate includes general corporate overhead not allocated to segments.
(2)The following amounts are included in Operating Income:
Losses (Gains) on Asset Disposals and Impairments, Net:
Government Operations$1,043 $(250)$(8)
Commercial Operations(9)6,233 (2,548)
Unallocated Corporate— (463)(976)
$1,034 $5,520 $(3,532)
Equity in Income of Investees:
Government Operations$50,807 $45,973 $33,498 
Commercial Operations— — — 
$50,807 $45,973 $33,498 
 Year Ended December 31,
 202320222021
 (In thousands)
CAPITAL EXPENDITURES:
Government Operations$91,699 $103,093 $147,051 
Commercial Operations53,358 88,853 153,571 
Segment Capital Expenditures145,057 191,946 300,622 
Corporate Capital Expenditures6,229 6,366 10,430 
Total Capital Expenditures$151,286 $198,312 $311,052 
DEPRECIATION AND AMORTIZATION:
Government Operations$53,388 $47,982 $42,485 
Commercial Operations17,745 18,805 19,884 
Segment Depreciation and Amortization71,133 66,787 62,369 
Corporate Depreciation and Amortization7,433 7,055 6,711 
Total Depreciation and Amortization$78,566 $73,842 $69,080 
December 31,
202320222021
(In thousands)
SEGMENT ASSETS:
Government Operations$1,515,264 $1,498,472 $1,430,863 
Commercial Operations1,077,628 1,005,545 976,382 
Segment Assets2,592,892 2,504,017 2,407,245 
Corporate Assets154,173 114,922 94,135 
Total Assets$2,747,065 $2,618,939 $2,501,380 
INVESTMENT IN UNCONSOLIDATED AFFILIATES:
Government Operations$88,608 $100,198 $85,284 
Commercial Operations— — — 
Total Investment in Unconsolidated Affiliates$88,608 $100,198 $85,284 
2. Information about our Product and Service Lines:
 Year Ended December 31,
 202320222021
 (In thousands)
REVENUES:
Government Operations:
Nuclear Components and Fuel$1,610,183 $1,494,810 $1,481,416 
Uranium Processing and Nuclear Services276,690 233,197 198,420 
Advanced Reactor Design and Engineering144,464 80,476 45,261 
2,031,337 1,808,483 1,725,097 
Commercial Operations:
Nuclear Manufacturing231,944 221,458 246,444 
Nuclear Services and Engineering234,400 205,900 160,638 
466,344 427,358 407,082 
Eliminations(1,372)(3,007)(8,105)
$2,496,309 $2,232,834 $2,124,074 
3. Information about our Consolidated Operations in Different Geographic Areas:
December 31,
202320222021
(In thousands)
NET PROPERTY, PLANT AND EQUIPMENT:
United States$784,062 $743,767 $698,772 
Canada442,755 389,490 346,868 
United Kingdom1,703 1,640 — 
$1,228,520 $1,134,897 $1,045,640 
See Note 3 for revenues by geographic area for each of our segments.
4. Information about our Major Customers:
In the years ended December 31, 2023, 2022 and 2021, sales to the U.S. Government accounted for approximately 93%, 94% and 95% of our Government Operations segment revenues, respectively. In the years ended December 31, 2023, 2022 and 2021, sales to large utility customers accounted for approximately 77%, 74% and 75% of our Commercial Operations segment revenues, respectively.