Company: BWNB
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001630805-25-000007
Chunk: 68

Company: Babcock & Wilcox Enterprises, Inc.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 8
Chunk 68
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)Benefit plans, net37,528 Gain (loss) on sales, net2,523 Settlement and related legal recoveries (costs)(9,109)Financial advisory services(1,424)Advisory fees for settlement costs and liquidity planning(1,509)Stock compensation(7,487)Restructuring expense and business services transition(5,981)Acquisition pursuit and related costs(5,504)Product development(4,100)Foreign exchange(1,025)Letter of credit fees(5,204)Other-net(3,932)Loss from continuing operations before income tax expense$(5,115)(1) General & administrative expense excludes corporate/eliminations of $20.9 million, $22.8 million and $16.7 million for the years ended December 31, 2024, 2023, and 2022, respectively.(2) Other corporate expenses include certain R&D expenses and other costs not allocated to our segments.(3) Adjusted EBITDA in our Renewable segment for the year ended December 31, 2022 includes a $6.2 million non-recurring gain on sale related to development rights of a future renewable energy project.

Information about our consolidated operations in different geographic areas:Year ended December 31,(in thousands)202420232022REVENUES (1)United States$462,920 $502,893 $449,636 Canada81,259 90,612 84,250 United Kingdom52,251 38,342 5,987 Indonesia13,900 13,291 11,624 Philippines12,063 3,176 3,276 Aggregate of all other countries, each with less than $10 million in revenues94,940 79,001 54,664 $717,333 $727,315 $609,437 (1) We allocate geographic revenues based on the location of the customer's operations.

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Year ended December 31,(in thousands)20242023NET PROPERTY, PLANT AND EQUIPMENT AND FINANCE LEASESUnited States$49,225 $47,986 Mexico13,974 14,953 United Kingdom4,593 4,940 Aggregate of all other countries1,801 1,487 $69,593 $69,366 

NOTE 6 – REVENUE RECOGNITION AND CONTRACTS 

Revenue Recognition