Item 2. Properties
Item 2. PROPERTIES
The following table provides the segment name, location and general use of each of our principal properties at December 31, 2025 that we own or lease:
Business Segment and Location Principal Use Owned/Leased
(Lease Expiration)
Government Operations
Lynchburg, Virginia Manufacturing facility (1) (4)
Owned
Barberton, Ohio Manufacturing facility Owned
Euclid, Ohio Manufacturing facility Owned
Mount Vernon, Indiana Manufacturing facility Owned
Erwin, Tennessee Manufacturing facility (2) (4)
Owned
Jonesborough, Tennessee Manufacturing facility Owned
Commercial Operations
Cambridge, Ontario, Canada Manufacturing facility Owned
Peterborough, Ontario, Canada Manufacturing facility (3) (4)
Leased (2036)
Toronto, Ontario, Canada Manufacturing facility (3) (4)
Leased (2036)
Kanata, Ontario, Canada Manufacturing facility (3) (4)
Leased (2038)
Vancouver, British Columbia, Canada Manufacturing facility (3) (4)
Leased (2031)
Oakville, Ontario, Canada Manufacturing facility Leased (2029)
Kitchener, Ontario, Canada Manufacturing facility Leased (2034)
Etobicoke, Ontario, Canada Manufacturing facility (3) (4)
Owned
Corporate
Lynchburg, Virginia Administrative office Leased (2026)
Washington, District of Columbia Administrative office Leased (2033)
Charlotte, North Carolina Administrative office Leased (2028)
McLean, Virginia Administrative office Leased (2035)
(1) Our Government Operations segment operates two facilities in Lynchburg, Virginia:
• The segment's primary manufacturing plant which resides on 497 acres and has approximately 1 million square feet under roof. This facility is the nation's largest commercial high-enriched uranium processing facility and is also the largest commercial International Atomic Energy Agency certified facility in the U.S.
• A center for manufacturing and research and development, referred to as the BWXT Innovation Campus. This site is adjacent to the facility noted above.
(2) Nuclear Fuel Services, Inc. ("NFS") operates this facility, which manufactures fuel for naval nuclear reactors and downblends Cold War-era government stockpiles of high-enriched uranium. NFS is the sole provider of nuclear fuel for the U.S. Navy.
(3) These facilities are licensed by the CNSC in order to allow us to fabricate natural uranium fuel and produce medical radioisotopes.
(4) These facilities are subject to review by either the NRC or the CNSC for licensee performance. The performance reviews determine the safe and secure conduct of operations of the facility.
We consider each of our significant properties to be suitable and adequate for its intended use. For further details regarding our properties, see Item 1 of this Report.
Item 3. LEGAL PROCEEDINGS
The information set forth under the heading "Investigations and Litigation" in Note 10 to our consolidated financial statements included in Item 8 of this Report is incorporated by reference into this Item 3.
Item 4. MINE SAFETY DISCLOSURES
None.
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PART II