Company: BWNB
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001630805-25-000007
Chunk: 77

Company: Babcock & Wilcox Enterprises, Inc.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 8
Chunk 77
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 December 31,(in thousands)2024202320242023Change in benefit obligation:Benefit obligation at beginning of period$888,817 $893,315 $6,343 $7,676 Service cost635 522 17 17 Interest cost41,669 45,143 274 360 Plan participants’ contributions— — 99 114 Amendment461 — — — Actuarial loss (gain)(39,002)24,789 (318)(802)Foreign currency exchange rate changes(1,751)1,500 (90)26 Benefits paid(75,621)(76,452)(911)(1,048)Benefit obligation at end of period$815,208 $888,817 $5,414 $6,343 Change in plan assets: (1) (2)Fair value of plan assets at beginning of period$730,600 $770,923 $— $— Actual return on plan assets(28,529)32,830 — — Employer contribution11,690 1,416 812 934 Plan participants' contributions— — 99 114 Foreign currency exchange rate changes(2,127)1,883 — — Benefits paid(75,621)(76,452)(911)(1,048)Fair value of plan assets at the end of period636,013 730,600 — — Funded status$(179,195)$(158,217)$(5,414)$(6,343)Amounts recognized in the balance sheet consist of:Accrued employee benefits$(1,105)$(1,103)$(806)$(930)Accumulated postretirement benefit obligation— — (4,608)(5,413)Pension liability(188,057)(167,498)— — Prepaid pension9,967 10,384 — — Accrued benefit liability, net$(179,195)$(158,217)$(5,414)$(6,343)Amount recognized in accumulated comprehensive income (before taxes):Prior service cost$1,067 $787 $283 $974 Supplemental information:Plans with accumulated benefit obligation in excess of plan assetsProjected benefit obligation781,793 851,302 — — Accumulated benefit obligation781,793 851