Company: BWNB
Filing Date: 2025-05-12
Form Type: 10-Q
Source: 0001630805-25-000019
Chunk: 49

Company: Babcock & Wilcox Enterprises, Inc.
Filing Date: 2025-05-12
Form: 10-Q
Item: Part I, Item 1
Chunk 49
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 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.

NOTE 16 – 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 three months ended March 31, 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)

30

(in thousands)Currency translation lossNet unrecognized loss related to benefit plans (net of tax)TotalBalance at December 31, 2023$(64,778)$(1,583)$(66,361)Other comprehensive loss before reclassifications(3,125)— (3,125)Reclassification of AOCI to net income— 231 231 Net other comprehensive (loss) income(3,125)231 (2,894)Balance at March 31, 2024$(67,903)$(1,352)$(69,255)The amounts reclassified out of AOCI by component and the affected Condensed Consolidated Statements of Operations line items are as follows (in thousands):AOCI componentLine items in the Condensed Consolidated Statements of Operations affected by reclassifications from AOCI Three Months Ended March 31,20252024Pension and post retirement adjustments, net of taxBenefit plans, net(124)(231