Company: BWNB
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001630805-25-000007
Chunk: 71

Company: Babcock & Wilcox Enterprises, Inc.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 8
Chunk 71
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,920 30,656 Less finance lease accumulated amortization10,339 8,278 Net property, plant and equipment and finance leases$69,593 $69,366 

NOTE 9 – GOODWILL

The following summarizes the changes in the net carrying amount of goodwill in the Consolidated Balance Sheets: (in thousands)B&W RenewableB&W EnvironmentalB&W ThermalTotalBalance at December 31, 2022$9,238 $5,347 $69,587 $84,172 Currency translation adjustments(267)290 927 950 Balance at December 31, 2023$8,971 $5,637 $70,514 $85,122 Currency translation adjustments(489)(537)(1,958)(2,984)Balance at December 31, 2024$8,482 $5,100 $68,556 $82,138 Goodwill represents the excess of the consideration transferred over the fair value of net assets, including identifiable intangible assets, at the acquisition date. Goodwill is assessed for impairment annually on October 1 or more frequently if events or changes in circumstances indicate a potential impairment exists (a "triggering event").The annual quantitative assessment was performed using a combination of the income approach (discounted cash flows), the market approach and the guideline transaction method. The income approach uses the reporting unit’s estimated future cash flows, discounted at the weighted-average cost of capital of a hypothetical third-party buyer to account for uncertainties within the projections. The income approach uses assumptions based on the reporting unit’s estimated revenue growth, operating margin, and working capital turnover. The market approach estimates fair value by applying cash flow multiples to the reporting unit’s operating performance. The multiples are derived from comparable publicly traded companies with similar characteristics to the reporting unit. The guideline transaction method estimates fair value by applying recent observed transaction multiples from transactions involving companies with similar characteristics to the reporting unit’s business. The fair market value calculated in the quantitative assessment exceeded the carrying amount of each of the reporting units by at least 35% at October 1, 2024.

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NOTE 10 – INTANGIBLE ASSETS

Intangible assets are as follows: (in thousands)December 31, 2024December 31, 2023Definite-lived intangible assetsCustomer relationships$25,462 $27,069 Unpatented technology3,703 4,006 Patented technology1,