Company: BWNB
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001630805-25-000007
Chunk: 74

Company: Babcock & Wilcox Enterprises, Inc.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 8
Chunk 74
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372 Financing cash flows - finance leases1,369 1,195 2,435 (in thousands)December 31, 2024December 31, 2023Right-of-use assets obtained in exchange for lease liabilities:Operating leases$10,617 $3,159 Finance leases4,333 103 Weighted-average remaining lease term:Operating leases (in years)12.312.9Finance leases (in years)9.611.0Weighted-average discount rate:Operating leases8.2 %8.3 %Finance leases8.0 %8.0 %

81

Future minimum lease payments required under non-cancellable leases as of December 31, 2024 are as follows:(in thousands)Operating LeasesFinance LeasesTotal2025$6,021 $3,730 $9,751 20265,429 3,820 9,249 20274,765 3,880 8,645 20284,080 3,952 8,032 20293,374 6,543 9,917 Thereafter31,274 20,976 52,250 Total$54,943 $42,901 $97,844 Less imputed interest(21,078)(12,756)(33,834)Lease liability$33,865 $30,145 $64,010 

 NOTE 12 – ACCRUED WARRANTY EXPENSE

We may offer assurance type warranties on products and services sold to customers. Changes in the carrying amount of our accrued warranty expense are as follows: Year ended December 31,(in thousands)20242023Balance at beginning of period$4,380 $6,320 Additions3,244 3,921 Expirations and other changes(3,400)(3,698)Payments(780)(2,161)Translation and other2 (2)Balance at end of period$3,446 $4,380 

We record estimated expense in Cost of operations in the Consolidated Statements of Operations to satisfy contractual warranty requirements when we recognize the associated revenues on the related contracts, or in the case of a loss contract, the full amount of the estimated warranty costs is recognized when the contract becomes a loss contract. In addition, we record specific adjustments when we expect the actual warranty costs to significantly differ from the initial estimates. Factors that impact our estimate of warranty costs include prior history