Company: BWNB
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001630805-25-000007
Chunk: 72

Company: Babcock & Wilcox Enterprises, Inc.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 8
Chunk 72
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912 1,913 Trade names1,898 1,758 All other4,369 4,345 Gross value of definite-lived intangible assets$37,344 $39,091 Customer relationships amortization(11,717)(9,816)Unpatented technology amortization(1,129)(894)Patented technology amortization(1,158)(876)Trade names amortization(1,224)(1,110)All other amortization(4,370)(4,345)Accumulated amortization$(19,598)$(17,041)Net definite-lived intangible assets $17,746 $22,050 Indefinite-lived intangible assetsTrademarks1,305 1,530 Total intangible assets, net$19,051 $23,580  The following summarizes the changes in the carrying amount of intangible assets:Year ended December 31,(in thousands)20242023Balance at beginning of period $23,580 $26,325 Amortization expense(3,078)(3,190)Currency translation adjustments(1,451)445 Balance at end of the period$19,051 $23,580  Amortization of intangible assets is included in Cost of operations and SG&A in the Consolidated Statement of Operations.Definite-lived intangible assets are assessed for impairment on an interim basis when impairment indicators exist. During the fourth quarter of 2024, we identified factors that indicated a triggering event had occurred, mainly due to the decrease in the common stock price during the quarter. We performed a quantitative assessment in accordance with ASC 360 and concluded that no impairment of intangible assets exists at December 31, 2024.Estimated future intangible asset amortization expense, during the year ended December 31, 2024 is as follows (in thousands):Amortization ExpenseYear ending December 31, 2025$3,110 Year ending December 31, 20263,016 Year ending December 31, 20273,016 Year ending December 31, 20282,884 Year ending December 31, 20292,819 Thereafter2,901 

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NOTE 11 – LEASES

We determine if an arrangement is a lease at inception. Operating leases are included in Right-of-use assets, Operating lease liabilities and Non-current operating lease liabilities in the Consolidated Balance Sheets. Finance leases are included in Net