Company: BWNB
Filing Date: 2025-08-11
Form Type: 10-Q
Source: 0001630805-25-000062
Chunk: 49

Company: Babcock & Wilcox Enterprises, Inc.
Filing Date: 2025-08-11
Form: 10-Q
Item: Part I, Item 1
Chunk 49
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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)June 30, 2025December 31, 2024Land$1,493 $1,493 Buildings16,813 16,813 Machinery and equipment97,702 95,759 Property under construction18,091 13,164 134,099 127,229 Less accumulated depreciation93,195 90,889 Net property, plant and equipment40,904 36,340 Finance leases33,923 34,920 Less finance lease accumulated amortization11,272 10,339 Net property, plant and equipment, and finance leases$63,555 $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.During the three months ended June 30, 2025, goodwill of $30.8 million was reclassified to assets held for sale in connection with the sale of our Diamond Power businesses, 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 adjustments1,773 256 — 2,029 Balance at June 30, 2025$46,702 $6,738 $— $53,440 

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NOTE 10 – INTANGIBLE ASSETS

Intangible assets are as follows: (in thousands)June 30, 2025December 31, 2024Definite-lived intangible assetsCustomer relationships$26,477 $25,462 Unpatented technology3,714 3,703 Patented technology1,912 1,912 Trade name1