Company: BWNB
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001630805-25-000007
Chunk: 9

Company: Babcock & Wilcox Enterprises, Inc.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 7
Chunk 9
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,343 Impairment of goodwill and long-lived assets3,729 — — Benefit plans, net31,937 37,505 (37,528)(Gain) loss on asset sales, net(354)134 (2,523)Stock compensation4,509 7,121 7,487 Restructuring activities and business services transition costs1,296 2,619 5,981 Advisory fees for settlement costs and liquidity planning1,234 1,107 1,509 Loss on debt extinguishment7,267 — — Settlement and related legal costs (recoveries)4,044 (1,474)9,109 Acquisition pursuit and related costs643 827 5,504 Product development (1)8,228 9,023 4,100 Foreign exchange109 2,594 1,025 Financial advisory services — — 1,424 Letter of credit fees7,036 7,702 5,204 Other - net3,550 3,837 3,932 Adjusted EBITDA$68,895 $60,805 $55,567 

(1) Costs associated with development of commercially viable products that are ready to go to market.

Year ended December 31,(in thousands)202420232022Adjusted EBITDA (1)B&W Renewable segment$15,085 $6,381 $11,768 B&W Environmental segment10,794 4,133 1,641 B&W Thermal segment61,370 64,775 56,708 Corporate(18,354)(14,484)(14,550)Total Adjusted EBITDA$68,895 $60,805 $55,567 

(1) See table above for reconciliation of Net loss to Adjusted EBITDA.

Corporate

Corporate costs in Adjusted EBITDA include SG&A expenses that are not allocated to the reportable segments. These costs include, among others, certain executive, compliance, strategic, reporting and legal expenses associated with governance of the total organization and being an SEC registrant, and research and development activity costs. 

Impairment of goodwill and long-lived assets

Impairment of long-lived assets relate to certain assets under construction due to changes in project status.

40

Benefit plans, net

We recognize benefits from our defined benefit and other postretirement