Company: BWNB
Filing Date: 2025-08-11
Form Type: 10-Q
Source: 0001630805-25-000062
Chunk: 129

Company: Babcock & Wilcox Enterprises, Inc.
Filing Date: 2025-08-11
Form: 10-Q
Item: Part I, Item 8
Chunk 129
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 (1)18,481 4,269 6,585 29,335 Selling & marketing expense (1)12,705 2,592 4,592 19,889 Segment Adjusted EBITDA18,494 (48)2,290 20,736 Corporate/eliminations (2)(9,976)Interest expense, net(23,673)Depreciation & amortization(5,979)Benefit plans, net136 Settlement and related legal recoveries (costs)(3,296)Financial advisory services(349)Loss on debt extinguishment(6,124)Stock compensation(2,699)Restructuring activities(1,010)Foreign exchange1,005 Other-net(1,277)Loss from continuing operations before income tax expense$(32,506)(1) General & administrative expense excludes corporate/eliminations of $5.9 million and $4.7 million for the three months ended June 30, 2025 and 2024, respectively, and $9.9 million and $11.4 million for the six months ended June 30, 2025 and 2024, respectively. We had no selling & marketing expenses excluded from corporate/eliminations for the three and six months ended June 30, 2025 and 2024.(2) Other corporate expenses include certain R&D expenses and other costs not allocated to our segments.

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NOTE 6 – REVENUE RECOGNITION AND CONTRACTS 

Revenue RecognitionWe generate the vast majority of our revenues from the supply of, and aftermarket services for, steam-generating environmental and auxiliary equipment. A performance obligation is a contractual promise to transfer a distinct product or service to the customer. A contract's transaction price is allocated to each distinct performance obligation and is recognized as revenue when (point in time) or as (over time) the performance obligation is satisfied.Revenue from products and services transferred to customers at a point in time, which includes certain aftermarket parts and services, accounted for 5% and 8% of revenue for the three months ended June 30, 2025 and 2024, and 6% and 8% of revenue for the six months ended June 30, 2025 and 2024, respectively. Revenue from products and services transferred to customers over time, which primarily relates to customized, engineered solutions and construction services, accounted for 95% and 92% of revenue for the