Company: BWNB
Filing Date: 2025-05-12
Form Type: 10-Q
Source: 0001630805-25-000019
Chunk: 40

Company: Babcock & Wilcox Enterprises, Inc.
Filing Date: 2025-05-12
Form: 10-Q
Item: Part I, Item 1
Chunk 40
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24,244 Machinery and equipment125,805 123,678 Property under construction17,019 14,466 168,776 163,881 Less accumulated depreciation120,705 118,869 Net property, plant and equipment48,071 45,012 Finance leases33,852 34,920 Less finance lease accumulated amortization10,752 10,339 Net property, plant and equipment, and finance leases$71,171 $69,593 

NOTE 8 – 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.There were no indicators of goodwill impairment identified for the quarter ended March 31, 2025.The following summarizes the changes in the net carrying amount of goodwill in the Condensed Consolidated Balance Sheets: (in thousands)B&W RenewableB&W EnvironmentalB&W ThermalTotalBalance at December 31, 2024$8,482 $5,100 $68,556 $82,138 Currency translation adjustments62 62 233 357 Balance at March 31, 2025$8,544 $5,162 $68,789 $82,495 

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NOTE 9 – INTANGIBLE ASSETS, NET

Intangible assets are as follows: (in thousands)March 31, 2025December 31, 2024Definite-lived intangible assetsCustomer relationships$25,592 $25,462 Unpatented technology3,728 3,703 Patented technology2,150 1,912 Tradename1,797 1,898 All other4,369 4,369 Gross value of definite-lived intangible assets37,636 37,344 Customer relationships amortization(12,463)(11,717)Unpatented technology amortization(1,206)(1,129)Patented technology amortization(1,229)(1,158)Tradename amortization(1,256)(1,224)All other amortization(4,369)(4,370)Accumulated amortization(20,523)(19,598)Net definite-lived intangible assets $17,113 $17,746 Indefinite-lived intangible assets