Company: BWNB
Filing Date: 2025-11-10
Form Type: 10-Q
Source: 0001630805-25-000090
Chunk: 51

Company: Babcock & Wilcox Enterprises, Inc.
Filing Date: 2025-11-10
Form: 10-Q
Item: Part I, Item 1
Chunk 51
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 raw material inventory is sold to our customers directly and without further processing. The components of Inventories, net included in the Condensed Consolidated Balance Sheets are as follows:(in thousands)September 30, 2025December 31, 2024Raw materials and supplies$60,369 $60,779 Work in progress3,545 3,379 Finished goods650 644 Total inventories, net$64,564 $64,802 

NOTE 8 – PROPERTY, PLANT, EQUIPMENT & FINANCE LEASES

The following table indicates the carrying value of land and each of the major classes of depreciable assets in the Condensed Consolidated Balance Sheets:(in thousands)September 30, 2025December 31, 2024Land$1,493 $1,493 Buildings16,813 16,813 Machinery and equipment99,523 95,535 Property under construction21,253 13,164 139,082 127,005 Less: accumulated depreciation94,587 90,665 Net property, plant and equipment44,495 36,340 Finance leases33,918 34,920 Less: finance lease accumulated amortization11,795 10,339 Net property, plant and equipment, and finance leases$66,618 $60,921 

NOTE 9 – GOODWILL

Goodwill represents the excess of the consideration transferred over the fair value of net assets, including identifiable intangible assets, at the acquisition date. Goodwill is assessed for impairment annually on October 1 or more frequently if events or changes in circumstances indicate a potential impairment exists.In July 2025, we allocated $30.8 million of goodwill to our Diamond Power business in connection with its sale, as discussed further in Note 4 to the Condensed Consolidated Financial Statements. We did not identify any impairment in the retained goodwill balances subsequent to the allocation of goodwill to the Diamond Power business. The following summarizes the changes in the net carrying amount of goodwill in the Condensed Consolidated Balance Sheets: (in thousands)B&W ThermalB&W RenewableB&W EnvironmentalTotalBalance at December 31, 2024$44,929 $6,482 $— $51,411 Currency translation adjustments1,035 149 — 1,184 Balance at September 30, 2025$45,964 $6,631 $— $