Company: BWNB
Filing Date: 2025-05-12
Form Type: 10-Q
Source: 0001630805-25-000019
Chunk: 26

Company: Babcock & Wilcox Enterprises, Inc.
Filing Date: 2025-05-12
Form: 10-Q
Item: Part I, Item 1
Chunk 26
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— (3,714)— — (3,714)Balance at March 31, 202489,480 $5,149 7,669 $77 $1,547,671 $(115,164)$(1,591,489)$(69,255)$544 $(222,467)

See accompanying notes to the Condensed Consolidated Financial Statements.

9

BABCOCK & WILCOX ENTERPRISES, INC.

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(Unaudited)

Three Months Ended March 31,(in thousands)20252024Operating Activities:Net loss from continuing operations(7,763)(12,795)Net loss from discontinued operations(14,226)(3,996)Net loss$(21,989)$(16,791)Adjustments to reconcile net loss to net cash used in operating activities:Depreciation and amortization of long-lived assets2,476 4,843 Impairment of long-lived assets8,783 — Amortization of deferred financing costs and debt discount1,515 740 Amortization of guaranty fee— 608 Non-cash operating lease expense1,710 1,804 Loss on debt extinguishment— 5,071 Loss on asset disposals8 81 (Benefit from) provision for deferred income taxes(531)2,514 Prior service cost amortization for pension and postretirement plans124 231 Stock-based compensation760 1,391 Foreign exchange (1,781)1,333 Unrealized loss on securities(544)— Bad debt expense632 1,148 Changes in operating assets and liabilities:Accounts receivable - trade, net(14,306)16,849 Contracts in progress 10,997 (21,515)Other current and noncurrent assets(5,658)2,429 Advance billings on contracts(7,526)(6,350)Inventories, net(2,957)3,100 Income taxes253 2,889 Accounts payable19,577 (1,758)Accrued and other current liabilities8,884 (8,351)Accrued contract loss(3,472)(2,784)Pension liabilities, accrued postretirement benefits and employee benefits(3,571)176 Other, net(1,861)(2,596)Net