Company: BWNB
Filing Date: 2025-08-11
Form Type: 10-Q
Source: 0001630805-25-000062
Chunk: 61

Company: Babcock & Wilcox Enterprises, Inc.
Filing Date: 2025-08-11
Form: 10-Q
Item: Part I, Item 1
Chunk 61
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7 million, resulting in an effective tax rate of (17.4)%.Our effective tax rate for the three and six months ended June 30, 2025 is not reflective of the U.S. statutory rate due to certain foreign countries having a tax rate higher than the U.S. statutory rate, valuation allowances against certain net deferred tax assets and unfavorable discrete items.We are subject to federal income tax in the United States and numerous countries that have statutory tax rates different than the U.S. federal statutory rate of 21%. We provide for income taxes based on the tax laws and rates in the jurisdictions where we conduct operations. These jurisdictions may have regimes of taxation that vary in both nominal rates and the basis on which these rates are applied. Our consolidated effective income tax rate can vary from period to period due to these foreign income tax rate variations, changes in the jurisdictional mix of our income, and valuation allowances.On July 4, 2025, the One Big Beautiful Bill ("OBBB") Act, which includes a broad range of tax reform provisions, was signed into law in the U.S. and we continue to assess its impact. Based on our initial review of the recently passed legislation, we currently do not expect the OBBB Act to have a material impact on our estimated annual effective tax rate in 2025.

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NOTE 17 – ACCUMULATED OTHER COMPREHENSIVE LOSS

Gains and losses deferred in AOCI are generally reclassified and recognized in the Condensed Consolidated Statements of Operations once they are realized. The changes in the components of AOCI, net of tax, for the six months ended June 30, 2025 and 2024 were as follows:(in thousands)Currency translation lossNet unrecognized loss related to benefit plans (net of tax)TotalBalance at December 31, 2024$(85,487)$(1,173)$(86,660)Other comprehensive income before reclassifications403 — 403 Reclassification of AOCI to net income— 124 124 Net other comprehensive income403 124 527 Balance at March 31, 2025$(85,084)$(1,049)$(86,133)Other comprehensive income before reclassifications2,196 — 2,196 Reclassification of AOCI to net income52,646 123 52,769 Net other comprehensive income54,842 123 54,965 Balance at June 30, 2025$(30