Company: BWNB
Filing Date: 2025-05-12
Form Type: 10-Q
Source: 0001630805-25-000019
Chunk: 63

Company: Babcock & Wilcox Enterprises, Inc.
Filing Date: 2025-05-12
Form: 10-Q
Item: Part I, Item 1
Chunk 63
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)Interest expense, net10,935 11,896 Income tax expense2,322 907 Depreciation & amortization2,476 3,159 EBITDA7,970 3,167 Impairment of long-lived assets950 — Benefit plans, net753 (96)Loss on asset disposals, net8 — Stock compensation763 1,350 Restructuring activities112 907 Settlements and related legal costs (recoveries)64 (4,087)Advisory fees for settlement costs and liquidity planning492 214 Loss on debt extinguishment— 5,071 Acquisition pursuit and related costs1,356 84 Product development1,205 1,619 Foreign exchange(261)716 Letter of credit fees1,200 2,282 Other - net(303)35 Adjusted EBITDA $14,309 $11,262 

40

Three Months Ended March 31,(in thousands)20252024Adjusted EBITDAB&W Renewable $3,128 $2,642 B&W Environmental 2,269 1,027 B&W Thermal 12,373 13,449 Corporate(3,461)(5,856)$14,309 $11,262 

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 long-lived assets

Impairment of long-lived assets refers to when the carrying amount of an asset exceeds the fair value or recoverable amount.

Benefit plans, net

We recognize benefits from our defined benefit and other postretirement benefit plans based on actuarial calculations primarily because our expected return on assets is greater than our service cost. Service cost is low because our plan benefits are frozen except for a small number of hourly participants.

Our pension costs include MTM adjustments and are primarily a result of changes in the discount rate, curtailments and settlements. Any MTM charge or gain should not be considered to be representative of future MTM adjustments as such events are not currently predicted and are in each case subject to market conditions and actuarial assumptions as of the date of the event giving rise to the MTM adjustment