Company: BWNB
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001630805-25-000007
Chunk: 78

Company: Babcock & Wilcox Enterprises, Inc.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 8
Chunk 78
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,302 — — Fair value of plan assets592,630 682,699 — — Plans with plan assets in excess of accumulated benefit obligationProjected benefit obligation33,416 37,515 — — Accumulated benefit obligation33,416 37,515 — — Fair value of plan assets43,383 47,901 — — (1) We had $12.3 million and $4.0 million in Fixed Income and Equity, respectively, as of December 31, 2024 relating to securities of the employer.(2) We had $10.7 million and $3.5 million in Fixed Income and Equity, respectively, as of December 31, 2023 relating to securities of the employer.

85

Components of net periodic benefit cost (benefit) included in net (loss) income are as follows:Pension BenefitsOther BenefitsYear ended December 31,Year ended December 31,(in thousands)202420232022202420232022Interest cost$41,669 $45,143 $26,676 $274 $360 $182 Expected return on plan assets(44,508)(46,877)(57,547)— — — Amortization of prior service cost190 190 189 691 691 691 Recognized net actuarial loss (gain)33,939 38,801 (6,365)(318)(803)(1,354)Benefit plans, net (1)31,290 37,257 (37,047)647 248 (481)Service cost included in COS (2)635 522 699 17 17 20 Net periodic benefit cost (benefit)$31,925 $37,779 $(36,348)$664 $265 $(461)(1)    Benefit plans, net, which is presented separately in our Consolidated Statements of Operations, is not allocated to the segments.(2)    Service cost related to a small group of active participants is presented within Cost of operations in the Consolidated Statement of Operations and is allocated to the B&W Thermal segment. Recognized net actuarial loss (gain) consists primarily of reported actuarial loss/gain and the difference between the actual return on plan assets and the expected return on plan assets. Total net MTM adjustments for our pension and other postretirement benefit plans were losses (g