Company: BWNB
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001630805-25-000007
Chunk: 98

Company: Babcock & Wilcox Enterprises, Inc.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 8
Chunk 98
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4 million available to offset future taxable income in certain foreign jurisdictions. Of these foreign NOL carryforwards, $99.0 million do not expire. The remaining foreign NOLs will expire between 2024 and 2040.At December 31, 2024, we have U.S. federal NOL carryforward DTAs of approximately $62.6 million. Of this amount, $18.0 million will expire in 2036 and 2037. The remaining amount of U.S. NOL carryforward does not expire. A portion of the net operating loss carryforward is limited under IRC Section 382. Approximately $38.0 million of our U.S. federal NOL carryforward is not subject to the IRC Section 382 limitation.At December 31, 2024, we have state NOL carryforward DTAs of $21.9 million available to offset future taxable income in various jurisdictions. Of this amount, $14.7 million will expire between 2024 and 2042.At December 31, 2024, we have foreign tax credit carryforwards of $1.8 million. These carryforwards will expire between 2024 and 2026.At December 31, 2024, we have valuation allowances of $500.0 million for deferred tax assets, which we expect will not be realized through carry-backs, reversals of existing taxable temporary differences, estimates of future taxable income or tax-planning strategies. Deferred tax assets are evaluated for realizability under ASC 740, considering all positive and negative evidence. At December 31, 2024, our weighting of positive and negative evidence included an assessment of historical income by jurisdiction adjusted for nonrecurring items, as well as an evaluation of other qualitative factors such as the length 

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and magnitude of pretax losses. The valuation allowances may be reversed in the future if sufficient positive evidence exists. Any reversal of our valuation allowance could be material to the income or loss for the period in which our assessment changes.The net change during the year in the total valuation allowance is as follows:Year ended December 31,(in thousands)20242023Balance at beginning of period$(535,719)$(504,997)Charges to costs and expenses30,734 (28,125)Charges to other accounts4,994 (2,597)Balance at end of period$(499,991)$(535,719)Sections 382 and 383