Company: BWNB
Filing Date: 2025-08-11
Form Type: 10-Q
Source: 0001630805-25-000062
Chunk: 18

Company: Babcock & Wilcox Enterprises, Inc.
Filing Date: 2025-08-11
Form: 10-Q
Item: Part I, Item 2
Chunk 18
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 million, partially offset by non-cash expenses arising from loss on sale of business of $35.8 million and impairment of long-lived assets of $9.9 million. Cash flows used in operating activities also included movements in certain operating assets and liabilities such as accounts receivable trade, net of $(2.6) million, contracts in progress of $9.8 million, and advanced billings on contracts of $(1.1) million which are primarily impacted by timing differences related to progress made on ongoing projects, billings, and collections, and may fluctuate significantly period to period. Operating cash flow decreases from pension liabilities, accrued postretirement benefits and employee benefits of $(6.9) million is a result of contributions made to the plan. Operating cash flow increases from accounts payable of $(0.9) million and accrued and other current liabilities of $8.1 million is the result of timing of payments to vendors.

Cash flows used in operating activities was $26.7 million in the six months ended June 30, 2024, which was attributable to the year-to-date net income of $8.6 million offset primarily by the BWRS non-cash gain of $40.2 million. Non-cash expenses including the loss on the debt extinguishment of $6.1 million, depreciation and amortization of long-lived assets of $9.5 million, deferred taxes of $2.5 million and operating lease expenses of $3.7 million were primarily offset by movements in certain operating assets and liabilities such as accounts receivable - trade, net of $(3.9) million, contracts in progress of 

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$(17.4) million, advanced billings on contracts of $(15.0) million, and accrued and other current liabilities of $(12.0) million due to the same factors described above for 2025.

Cash flows provided by investing activities was $10.6 million in the six months ended June 30, 2025, primarily due to proceeds from the sale of our Vølund business $20.1 million, offset by purchases of fixed assets relating to BrightLoop™ projects. Cash flows provided by investing activities were $76.0 million in the six months ended June 30, 2024, primarily related to the $83.5 million proceeds from the sale of BWRS, offset by purchases of fixed assets relating to BrightLoop™ projects.

Cash flows provided by financing activities was $2.6 million in the six months ended June 30,