Company: BWNB
Filing Date: 2025-08-11
Form Type: 10-Q
Source: 0001630805-25-000062
Chunk: 141

Company: Babcock & Wilcox Enterprises, Inc.
Filing Date: 2025-08-11
Form: 10-Q
Item: Part I, Item 8
Chunk 141
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 customers should we fail to perform our obligations under our applicable contracts. We, and certain of our subsidiaries, have jointly executed general agreements of indemnity in favor of surety underwriters relating to surety bonds the underwriters issue in support of some of our contracting activity.The following table provides a summary of outstanding letters of credit issued outside of the domestic facilities, and outstanding surety bonds: June 30,20252024Letters of credit under non-domestic facilities$214 $282 Surety Bonds $112,229 $112,171 Our ability to obtain and maintain sufficient capacity under our current Debt Facilities is essential to allow us to support the issuance of letters of credit, bank guarantees and surety bonds. Without sufficient capacity, our ability to support contract security requirements in the future will be diminished.

31

Interest expense in the Condensed Consolidated Financial Statements consisted of the following components:Three Months Ended June 30,Six Months Ended June 30,(in thousands)2025202420252024Components associated with borrowings from:Senior notes$5,201 $6,420 $11,521 $12,691 Senior notes due 20301,038 — 1,038 — Revolving Credit Agreement1,138 1,429 2,265 2,961 7,377 7,849 14,824 15,652 Components associated with amortization or accretion of:Revolving Credit Agreement1,477 1,476 3,086 2,625 Senior notes488 650 1,144 1,294 Senior notes due 2030(577)— (577)— 1,388 2,126 3,653 3,919 Components associated with interest from:Lease liabilities645 555 1,236 1,103 Letter of Credit interest and fees1,399 1,320 1,892 2,809 Other interest expense183 117 429 497 2,227 1,992 3,557 4,409 Total interest expense$10,992 $11,967 $22,034 $23,980 

NOTE 14 – CAPITAL STOCK

Preferred StockDuring the six months ended June 30, 2025, our Board of Directors approved dividends totaling $7.4 million to holders of the Preferred Stock. There were no cumulative undeclared dividends of the Preferred Stock at June