Company: BWNB
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001630805-25-000007
Chunk: 66

Company: Babcock & Wilcox Enterprises, Inc.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 8
Chunk 66
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 The CODM considers budget-to-actual and forecast-to-actual 

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variances on a quarterly basis when making decisions about the allocation of operating and capital resources to each segment. Adjusted EBITDA by segment consists of net loss plus accretion of depreciation and amortization, stock-based compensation and provision for income taxes and excludes other transactions not deemed representative of segment results. Items that apply to B&W as a whole are assigned to Corporate. We do not separately identify or report assets by segment as the CODM does not consider assets by segment to be a critical measure by which performance is measured.An analysis of our operations by segment is as follows:Year ended December 31,(in thousands)202420232022Revenues:B&W Renewable segment$110,134 $140,835 $122,765 B&W Environmental segment109,390 108,655 81,822 B&W Thermal segment497,879 499,216 415,104 Elimination of intersegment revenues(70)(21,391)(10,254)Total Revenue$717,333 $727,315 $609,437 

The following tables provide information about our segments and include the reconciliation of Revenue to Segment Adjusted EBITDA to Loss from continuing operations before income tax expense: Year ended December 31, 2024(in thousands)B&W Renewable segmentB&W Environmental segmentB&W Thermal segmentTotalRevenue$110,134 $109,390 $497,879 $717,403 Cost of operations74,649 80,348 367,857 522,854 General & administrative expense (1)12,256 10,495 39,439 62,190 Selling & marketing expense 8,144 7,753 29,213 45,110 Segment Adjusted EBITDA15,085 10,794 61,370 87,249 Corporate/eliminations (2)(18,354)Interest expense, net(45,332)Depreciation & amortization(11,125)Impairment of goodwill and long-lived assets(3,729)Benefit plans, net(31,937)Gain (loss) on sales, net354 Settlement and related legal recoveries (costs)(4,044)Advisory fees for settlement costs and liquidity planning(1,234)Loss on debt extinguishment(7,267)Stock compensation(4,509)Restructuring expense