Company: BWNB
Filing Date: 2025-11-10
Form Type: 10-Q
Source: 0001630805-25-000090
Chunk: 132

Company: Babcock & Wilcox Enterprises, Inc.
Filing Date: 2025-11-10
Form: 10-Q
Item: Part I, Item 8
Chunk 132
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 30, 2025 and 2024, we recognized 93% and 96% of the revenue related to amounts that were included in advance billings on contracts as of December 31, 2024 and 2023, respectively.Backlog At September 30, 2025, we had $393.5 million of remaining performance obligations, which we also refer to as total backlog. We expect to recognize approximately 33%, 63% and 4% of the remaining performance obligations as revenue in 2025, 2026 and thereafter, respectively.

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NOTE 7 – INVENTORIES, NET

Inventories are stated at the lower of cost or net realizable value. Certain 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