Company: BWNB
Filing Date: 2025-11-05
Form Type: 424B5
Source: 0001104659-25-106685
Chunk: 34

Company: Babcock & Wilcox Enterprises, Inc.
Filing Date: 2025-11-05
Form: 424B5
Chunk 34
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 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 Mark-to-Market (“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.

Losson asset disposals, net

We, at times, will sell or dispose of certain
assets that are unrelated to our current or future operations. Therefore, we believe it is useful to exclude these gains and losses from
our non-GAAP financial measures in order to highlight the performance of the continuing business.

Stock compensation

The grant date fair value of stock compensation
varies based on the derived stock price at the time of grant, valuation methodologies, subjective assumptions, and reward types. This
may make the impact of this form of compensation on our current financial results difficult to compare to previous and future periods.
Therefore, we believe it is useful to exclude stock-based compensation from our non-GAAP financial measures in order to highlight the
performance of the business and to be consistent with the way many investors evaluate our performance and compare our operating results
to peer companies.

<div align='center'>S-21</div>

Restructuring activities

Restructuring activities and business services
transition actions across our business units and corporate functions primarily consist of severance and related costs associated with
non-recurring actions taken to transform our operations with impacts on employees and facilities used in our businesses. Business services
transition costs relate to new technology implementation, expected to provide future benefit and are included in Cost of operations and
SG&A expenses in the Condensed Consolidated Statement of Operations.

Settlements and related legal costs (recoveries)

Settlements and related legal costs relate to
expenses associated with resolving legal disputes, whether through negotiated