Company: BWNB
Filing Date: 2025-08-11
Form Type: 10-Q
Source: 0001630805-25-000062
Chunk: 163

Company: Babcock & Wilcox Enterprises, Inc.
Filing Date: 2025-08-11
Form: 10-Q
Item: Part I, Item 8
Chunk 163
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 used in our businesses. Business services transition costs relate to new technology implementation, expected to provide future benefit and are included in Cost of operations and SG&A expenses in the Condensed Consolidated Statement of Operations.

46

Settlements and related legal costs

Settlements and related legal costs relate to expenses associated with resolving legal disputes, whether through negotiated settlements or court judgments.

Loss on debt extinguishment

Losses on debt extinguishment were due to the write-off of deferred financing fees and certain other exit costs associated with our extinguishment of the Debt Facilities.

Foreign exchange

We translate assets and liabilities of our foreign operations into U.S. dollars at current exchange rates, and we translate items in our Condensed Consolidated Statement of Operations at average exchange rates for the periods presented. We record adjustments resulting from the translation of foreign currency amounts as a component of Accumulated Other Comprehensive Loss. We report foreign currency transaction gains (losses) in income in the Condensed Consolidated Statements of Operations. Management excludes these expenses from Adjusted EBITDA as they do not reflect the ordinary course of business and are inherently unpredictable in timing and amount.

Foreign exchange gains and losses are primarily related to unhedged intercompany loans denominated in European currencies to fund foreign operations.

Financial advisory services

Financial advisory services relate to business planning and other professional services.

RESULTS BY SEGMENT

Three Months Ended June 30,Six Months Ended June 30,(in thousands)20252024$ Change20252024$ ChangeRevenues:B&W Thermal segmentParts$49,620 $35,868 $13,752 $99,565 $74,950 $24,615 Projects21,175 31,863 (10,688)53,291 54,680 (1,389)Construction33,490 39,571 (6,081)74,704 73,296 1,408 104,285 107,302 (3,017)227,560 202,926 24,634 B&W Renewable segmentParts$4,851 $4,534 $317 $11,155 $10,613 $542 Projects5,699 5,482 217 11,757 11,464 293 Construction8,422 5,354 3,068 10,314 8,463 1,851 18,972 15,370 3,602 33,226 30,540