Babcock & Wilcox Enterprises, I (BW) 10-Q 9 May 19 2019 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2019	May 01, 2019
Document And Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Mar. 31, 2019
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	Q1
Trading Symbol	BW
Entity Registrant Name	Babcock & Wilcox Enterprises, Inc.
Entity Central Index Key	0001630805
Current Fiscal Year End Date	--12-31
Entity Filer Category	Accelerated Filer
Entity Common Stock, Shares Outstanding		168,880,626
Entity Emerging Growth Company	false
Entity Small Business	false

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Income Statement [Abstract]
Revenues	$ 231,936	$ 253,176
Costs and expenses:
Cost of operations	201,067	277,345
Selling, general and administrative expenses	42,399	59,409
Advisory fees and settlement costs	13,610	3,089
Restructuring activities and spin-off transaction costs	6,079	6,862
Research and development costs	743	1,142
Total costs and expenses	263,898	347,847
Equity in income and impairment of investees	0	(11,757)
Operating loss	(31,962)	(106,428)
Other income (expense):
Interest expense	(11,134)	(13,452)
Interest income	559	153
Benefit plans, net	3,030	6,997
Foreign exchange	(10,153)	2,457
Other – net	420	397
Total other expense	(17,278)	(3,448)
Loss before income tax expense	(49,240)	(109,876)
Income tax expense	626	6,963
Loss from continuing operations	(49,866)	(116,839)
Loss from discontinued operations, net of tax	0	(3,496)
Net loss	(49,866)	(120,335)
Net income (loss) attributable to noncontrolling interest	101	(98)
Net loss attributable to stockholders	$ (49,765)	$ (120,433)
Basic and diluted loss per share - continuing operations (in dollars per share)	$ (0.29)	$ (2.65)
Basic and diluted (loss) earnings per share - discontinued operations (in dollars per share)	0	(0.08)
Basic and diluted loss per share (in dollars per share)	$ (0.29)	$ (2.73)
Shares used in the computation of earnings per share:
Basic and diluted (in shares)	168,812	44,187

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Statement of Comprehensive Income [Abstract]
Net loss	$ (49,866)	$ (120,335)
Other comprehensive income (loss):
Currency translation adjustments (CTA), net of taxes	10,260	3,223
Reclassification of CTA to net loss	0	(2,044)
Derivative financial instruments:
Unrealized (losses) gains on derivative financial instruments	(1,311)
Income tax (benefit) expense	(133)
Unrealized (losses) gains on derivative financial instruments, net of taxes	(1,178)
Unrealized (losses) gains on derivative financial instruments		1,601
Income tax (benefit) expense		377
Unrealized (losses) gains on derivative financial instruments, net of taxes		1,224
Derivative financial instrument gains (losses) reclassified into net income	289
Income tax expense (benefit)	65
Reclassification adjustment for gains (losses) included in net loss, net of taxes	224
Derivative financial instrument gains (losses) reclassified into net income		(1,628)
Income tax expense (benefit)		(356)
Reclassification adjustment for gains (losses) included in net loss, net of taxes		(1,272)
Benefit obligations:
Unrealized losses on benefit obligations, net of taxes	0	(55)
Amortization of benefit plan benefits	(356)	(384)
Other comprehensive income	8,950	692
Total comprehensive loss	(40,916)	(119,643)
Comprehensive income (loss) attributable to noncontrolling interest	122	463
Comprehensive loss attributable to stockholders	$ (40,794)	$ (119,180)

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
Statement of Financial Position [Abstract]
Cash and cash equivalents	$ 43,527	$ 43,214
Restricted cash and cash equivalents	6,959	17,065
Accounts receivable – trade, net	203,244	197,203
Accounts receivable – other	56,982	44,662
Contracts in progress	136,407	144,727
Inventories	63,789	61,323
Other current assets	45,861	41,425
Total current assets	556,769	549,619
Net property, plant and equipment	84,952	90,892
Goodwill	47,131	47,108
Intangible assets	29,116	30,793
Right-of-use assets	15,067
Other assets	31,842	27,085
Total assets	764,877	745,497
Revolving credit facilities	175,300	145,506
Last out term loans	42,413	30,649
Accounts payable	202,938	199,882
Accrued employee benefits	23,092	19,319
Advance billings on contracts	155,279	149,367
Accrued warranty expense	44,824	45,117
Lease liabilities	4,895
Other accrued liabilities	117,150	122,149
Total current liabilities	765,891	711,989
Pension and other accumulated postretirement benefit liabilities	277,773	281,647
Noncurrent lease liabilities	9,976
Other noncurrent liabilities	29,089	29,158
Total liabilities	1,082,729	1,022,794
Commitments and contingencies
Stockholders' (deficit) equity:
Common stock, par value $0.01 per share, authorized 200,000 shares; issued and outstanding 168,862 and 168,791 shares at March 31, 2019 and December 31, 2018, respectively	1,748	1,748
Capital in excess of par value	1,047,466	1,047,062
Treasury stock at cost, 5,924 and 5,872 shares at March 31, 2019 and December 31, 2018, respectively	(105,612)	(105,590)
Accumulated deficit	(1,267,679)	(1,217,914)
Accumulated other comprehensive loss	(2,482)	(11,432)
Stockholders' deficit attributable to shareholders	(326,559)	(286,126)
Noncontrolling interest	8,707	8,829
Total stockholders' deficit	(317,852)	(277,297)
Total liabilities and stockholders' deficit	$ 764,877	$ 745,497

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Mar. 31, 2019	Dec. 31, 2018
Statement of Financial Position [Abstract]
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, authorized (in shares)	200,000,000	200,000,000
Common stock, issued (in shares)	168,862,000	168,791,000
Common stock, outstanding (in shares)	168,862,000	168,791,000
Treasury stock, at cost (in shares)	5,942,000	5,872,000

CONDENSED CONSOLIDATED STATMENT

CONDENSED CONSOLIDATED STATMENT OF STOCKHOLDERS' (DEFICIT) EQUITY - USD ($) shares in Thousands, $ in Thousands	Total	Common Stock	Capital In Excess of Par Value	Treasury Stock	Accumulated Deficit	Accumulated Other Comprehensive (Loss) Income	Noncontrolling Interest
Beginning balance (in shares) at Dec. 31, 2017		44,065
Stockholders' equity, beginning balance at Dec. 31, 2017	$ 190,703	$ 499	$ 800,968	$ (104,785)	$ (492,150)	$ (22,429)	$ 8,600
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss	(120,335)				(120,433)		98
Currency translation adjustments, net of taxes	3,223						(25)
Currency translation adjustments	1,154					1,179
Derivative financial instruments	(48)					(48)
Defined benefit obligations	(439)					(439)
Available-for-sale investments	0				38	(38)
Stock-based compensation charges (in shares)		316
Stock-based compensation charges	(567)	$ 4	149	(720)
Ending balance (in shares) at Mar. 31, 2018		44,381
Stockholders' equity, ending balance at Mar. 31, 2018	$ 69,996	$ 503	801,117	(105,505)	(613,017)	(21,775)	8,673
Beginning balance (in shares) at Dec. 31, 2018	168,791	168,791
Stockholders' equity, beginning balance at Dec. 31, 2018	$ (277,297)	$ 1,748	1,047,062	(105,590)	(1,217,914)	(11,432)	8,829
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss	(49,866)				(49,765)		(101)
Currency translation adjustments, net of taxes	10,260						(21)
Currency translation adjustments	10,239					10,260
Derivative financial instruments	(954)					(954)
Defined benefit obligations	(356)					(356)
Stock-based compensation charges (in shares)		71
Stock-based compensation charges	$ 382	$ 0	404	(22)
Ending balance (in shares) at Mar. 31, 2019	168,862	168,862
Stockholders' equity, ending balance at Mar. 31, 2019	$ (317,852)	$ 1,748	$ 1,047,466	$ (105,612)	$ (1,267,679)	$ (2,482)	$ 8,707

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Cash flows from operating activities:
Net loss	$ (49,866)	$ (120,335)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:
Depreciation and amortization of long-lived assets	7,306	9,070
Amortization of deferred financing costs, debt discount and payment-in-kind interest	5,695	4,951
Amortization of right of use assets	1,543
Income from equity method investees	0	(6,605)
Other-than-temporary impairment of equity method investment in TBWES	0	18,362
Losses on asset disposals and impairments	0	527
Provision for (benefit from) deferred income taxes, including valuation allowances	(175)	1,056
Mark to market losses (gains) and prior service cost amortization for pension and postretirement plans	42	(439)
Stock-based compensation, net of associated income taxes	404	153
Changes in assets and liabilities:
Accounts receivable	192	17,337
Contracts in progress and advance billings on contracts	9,894	(18,331)
Inventories	(3,239)	4,266
Income taxes	(49)	10,126
Accounts payable	4,594	(3,038)
Accrued and other current liabilities	6,480	(3,785)
Accrued contract loss	(30,903)	6,923
Pension liabilities, accrued postretirement benefits and employee benefits	(594)	(9,640)
Other, net	10,980	4,565
Net cash (used) from operating activities	(37,696)	(84,837)
Cash flows from investing activities:
Purchase of property, plant and equipment	(288)	(3,204)
Proceeds from sale of business	0	5,105
Proceeds from sale of equity method investments in joint venture	0	21,078
Purchases of available-for-sale securities	(6,036)	(9,612)
Sales and maturities of available-for-sale securities	957	9,451
Other, net	95	167
Net cash (used) from investing activities	(5,272)	22,985
Cash flows from financing activities:
Shares of our common stock returned to treasury stock	(22)	(720)
Debt issuance costs	(6,675)	(5,441)
Other, net	0	(78)
Net cash from financing activities	33,103	71,483
Effects of exchange rate changes on cash	72	(5,210)
Net (decrease) increase in cash, cash equivalents and restricted cash	(9,793)	4,421
Less net increase in cash and cash equivalents of discontinued operations	0	1,279
Net (decrease) increase in cash, cash equivalents and restricted cash of continuing operations	(9,793)	3,142
Cash, cash equivalents and restricted cash of continuing operations, beginning of period	60,279	69,697
Cash, cash equivalents and restricted cash of continuing operations, end of period	50,486	72,839
U.S. Revolving Credit Facility
Cash flows from financing activities:
Borrowings under credit facilities	71,200	157,100
Repayments of lines of credit	(40,800)	(74,356)
Last Out Term Loans - cash interest
Cash flows from financing activities:
Borrowings under our last out term loan from related party	10,000	0
Foreign Revolvers
Cash flows from financing activities:
Repayments of lines of credit	$ (600)	$ (5,022)

BASIS OF PRESENTATION

BASIS OF PRESENTATION	3 Months Ended
	Mar. 31, 2019
Accounting Policies [Abstract]
BASIS OF PRESENTATION	BASIS OF PRESENTATION These interim financial statements of Babcock & Wilcox Enterprises, Inc. ("B&W Enterprises," "we," "us," "our" or "the Company") have been prepared in accordance with accounting principles generally accepted in the United States and Securities and Exchange Commission ("SEC") instructions for interim financial information, and should be read in conjunction with our Annual Report on Form 10-K for the year ended December 31, 2018, as amended ("Annual Report"). Accordingly, significant accounting policies and other disclosures normally provided have been omitted since such items are disclosed in our Annual Report. We have included all adjustments, in the opinion of management, consisting only of normal, recurring adjustments, necessary for a fair presentation of the interim financial statements. We have eliminated all intercompany transactions and accounts. We present the notes to our Condensed Consolidated Financial Statements on the basis of continuing operations, unless otherwise stated. Going Concern Considerations The accompanying Condensed Consolidated Financial Statements have been prepared on a going concern basis, which contemplates the realization of assets and the discharge of liabilities in the normal course of business for the foreseeable future. The Condensed Consolidated Financial Statements do not include any adjustments that might result from the outcome of the going concern uncertainty. We face liquidity challenges from losses recognized on our six European Vølund EPC loss contracts described in Note 5 , which caused us to be out of compliance with certain financial covenants and resulted in events of default in the agreements governing certain of our debt obligations at each of December 31, 2018 and March 31, 2019. Our liquidity is provided under a credit agreement dated May 11, 2015, as amended, with a syndicate of lenders ("Amended Credit Agreement") that governs a revolving credit facility ("U.S. Revolving Credit Facility") and our last out term loan facility ("Last Out Term Loans"). The Amended Credit Agreement is described in more detail in Note 17 and Note 18 . We obtained waivers to the Amended Credit Agreement that waived, prevented or resolved these events of default as described in Note 17 and Note 18 . To address our liquidity needs and the going concern uncertainty, we have taken the following actions in 2019 as follows: • received $150.0 million in gross proceeds from Tranche A-3 of the Last Out Term Loans before original issuance discount and fees, as described in Note 18 , from B. Riley FBR, Inc., a related party, on April 5, 2019 ; • received $10.0 million in net proceeds from Tranche A-2 of the Last Out Term Loans, described in Note 18 , from B. Riley Financial, Inc. (together with its affiliates, including B. Riley FBR, Inc., "B. Riley"), a related party, on March 20, 2019 ; • reduced uncertainty and provided better visibility into our future liquidity requirements by turning over four of the six European Vølund EPC loss contracts to the customers by the end of the first quarter of 2019 and negotiated a settlement of the remaining two loss contracts as described in Note 5 , which was funded with the proceeds from Tranche A-3 of the Last Out Term Loans ; • entered into an additional settlement as described in Note 5 in connection with an additional European waste-to-energy EPC contract, for which notice to proceed was not given and the contract was not started, whereby our obligations and our risk from acting as the prime EPC should the project move forward was eliminated ; and • entered into several amendments and waivers to avoid default and improve our liquidity under the terms of our Amended Credit Agreement as described in Note 17 and Note 18 , the most recent of which was Amendment No. 16 dated April 5, 2019, which provided Tranche A-3 of the Last Out Term Loans described above and in Note 18 , reset the financial and other covenants, increased borrowing capacity under the U.S. Revolving Credit Facility by reducing the minimum liquidity requirement, allowed for the issuance of a limited amount of new letters of credit with respect to any future Vølund project, and permitted other letters of credit to expire up to one year after the maturity of the U.S. Revolving Credit Facility. Management believes it has taken and is continuing to take prudent actions to address the substantial doubt regarding our ability to continue as a going concern, but we cannot assert that it is probable that our plans will fully mitigate the liquidity challenges we face because some matters may not fully be in our control. In connection with Amendment No. 16 to the Amended Credit Facility that provided the Tranche A-3 Last Out Term Loan, covenant relief and operating flexibility, we also entered into the "Letter Agreement" with B. Riley and Vintage Capital Management LLC ("Vintage") (both related parties) on April 5, 2019, pursuant to which the parties agreed to use their reasonable best efforts to effect a series of equitization transactions for a portion of the Last Out Term Loans, subject to, among other things, shareholder approval. Management believes completion of the Equitization Transactions would improve our financial position and liquidity by reducing financing costs. These "Equitization Transactions," are more fully described in Note 19 . The issuance of any shares of our common stock (or other securities) in connection with the Equitization Transactions is subject to the receipt of all required shareholder approvals, and no shares of our common stock (or other securities) will be issued before such approvals have been obtained and the related registration statements being declared effective by the SEC, which are matters outside of our control. Amendment No. 16 to the Amended Credit Facility also created a new event of default for failure to terminate the existing U.S. Revolving Credit Facility on or prior to March 15, 2020, which is within twelve months of the date of this filing. While Management believes it will be able to obtain additional financing to replace our U.S. Revolving Credit facility, the ability to do so will depend on credit markets and other matters that are outside of our control. In addition to the discussions regarding additional financing described above, we continue to evaluate further dispositions, opportunities for additional cost savings and opportunities for insurance recoveries and other claims where appropriate and available. NYSE Continued Listing Status On November 27, 2018, we received written notification (the "NYSE Notice"), from the New York Stock Exchange (the "NYSE"), that we were not in compliance with an NYSE continued listing standard in Rule 802.01C of the NYSE Listed Company Manual because the average closing price of our common stock fell below $1.00 over a period of 30 consecutive trading days. We can regain compliance with the minimum per share average closing price standard at any time during the six-month cure period if, on the last trading day of any calendar month during the cure period, we have (i) a closing share price of at least $1.00 and (ii) an average closing price of at least $1.00 over the 30 trading-day period ending on the last trading day of that month. We informed the NYSE that we intend to complete a reverse stock split to cure the deficiency, subject to approval of our shareholders at our next annual meeting. Based on the expected timing of our annual shareholder meeting, the Company is permitted under NYSE rules to go beyond the six-month cure period to request required shareholder approval on a corporate action. Our common stock could also be delisted if we fail to satisfy any other continued listing standards. For example, based on our current shareholders' equity, our common stock may be subject to delisting if our average market capitalization over a consecutive 30 trading-day period is less than $50.0 million, subject to our ability to regain compliance with this listing standard during an applicable cure period. Further, our common stock could be delisted if our average market capitalization over a consecutive 30 trading-day period is less than $15.0 million , in which case we would not have an opportunity to cure the deficiency, our common stock would be suspended from trading on the NYSE immediately, and the NYSE would begin the process to delist our common stock, subject to our right to appeal under NYSE rules. We cannot assure you that any appeal we undertake in these or other circumstances will be successful. While we are considering various options, it may take a significant effort to cure this deficiency and regain compliance with this continued listing standard, and there can be no assurance that we will be able to cure this deficiency or if we will cease to comply with another NYSE continued listing standard.

EARNINGS PER SHARE

EARNINGS PER SHARE	3 Months Ended
	Mar. 31, 2019
Earnings Per Share [Abstract]
EARNINGS PER SHARE	EARNINGS PER SHARE The following table sets forth the computation of basic and diluted earnings per share of our common stock, net of noncontrolling interest: Three months ended March 31, (in thousands, except per share amounts) 2019 2018 Loss from continuing operations $ (49,765 ) $ (116,937 ) Loss from discontinued operations, net of tax — (3,496 ) Net loss attributable to shareholders $ (49,765 ) $ (120,433 ) Weighted average shares used to calculate basic and diluted earnings per share 168,812 44,187 Basic and diluted loss per share - continuing operations $ (0.29 ) $ (2.65 ) Basic and diluted loss per share - discontinued operations — (0.08 ) Basic and diluted loss per share $ (0.29 ) $ (2.73 ) Because we incurred a net loss in the three months ended March 31, 2019 and 2018 , basic and diluted shares are the same. If we had net income in the three months ended March 31, 2019 and 2018 , diluted shares would include an additional 0.4 million and 0.9 million shares, respectively. We excluded 3.3 million and 2.0 million shares related to stock options from the diluted share calculation for the three months ended March 31, 2019 and 2018 , respectively, because their effect would have been anti-dilutive.

DISCONTINUED OPERATIONS

DISCONTINUED OPERATIONS	3 Months Ended
	Mar. 31, 2019
Discontinued Operations and Disposal Groups [Abstract]
DISCONTINUED OPERATIONS	DISCONTINUED OPERATIONS On October 5, 2018, we sold all of the capital stock of our MEGTEC and Universal businesses to Dürr Inc., a wholly owned subsidiary of Dürr AG, pursuant to a stock purchase agreement executed on June 5, 2018 for $ 130.0 million , subject to adjustment. We received $ 112.0 million in cash, net of $ 22.5 million in cash sold with the businesses, and $ 7.7 million , which was deposited in escrow pending final settlement of working capital and other customary matters. The escrow matters are expected to be resolved within 18 months from the closing date. We primarily used proceeds from the transaction to reduce outstanding balances under our U.S. Revolving Credit Facility and for working capital purposes. The following table presents selected financial information regarding the discontinued operations of our former MEGTEC and Universal businesses included in the Condensed Consolidated Statements of Operations: Three months ended March 31, (in thousands) 2018 Revenue $ 58,181 Cost of operations 44,668 Selling, general and administrative 9,427 Research and development 365 Operating income 3,721 Income tax expense 7,118 Net loss (3,496 ) The significant components of discontinued operations of our former MEGTEC and Universal businesses included in our Condensed Consolidated Statements of Cash Flows are as follows: Three months ended March 31, (in thousands) 2018 Depreciation and amortization $ 2,089 Provision for deferred income taxes 3,033 Purchase of property, plant equipment (65 )

SEGMENT REPORTING

SEGMENT REPORTING	3 Months Ended
	Mar. 31, 2019
Segment Reporting [Abstract]
SEGMENT REPORTING	SEGMENT REPORTING Our operations are assessed based on three reportable segments which are summarized as follows: • Babcock & Wilcox segment : focused on the supply of, and aftermarket services, for steam-generating, environmental and auxiliary equipment for power generation and other industrial applications. This segment was formerly named the Power segment. • Vølund & Other Renewable segment : focused on the supply of steam-generating systems, environmental and auxiliary equipment and operations and maintenance services for the waste-to-energy and biomass power generation industries. This segment was formerly named the Renewable segment. • SPIG segment : focused on the supply of custom-engineered cooling systems for steam applications along with related aftermarket services. This segment was formerly part of the Industrial segment. The gross product line revenues exclude eliminations of revenues generated from sales to other segments or to other product lines within the segment. The primary component of the Babcock & Wilcox segment elimination is revenue associated with construction services. The primary component of total eliminations is associated with Babcock & Wilcox segment construction services provided to the SPIG segment. An analysis of our operations by segment is as follows: Three months ended March 31, (in thousands) 2019 2018 Revenues: Babcock & Wilcox segment Retrofits $ 30,674 $ 61,983 New build utility and environmental 68,907 12,847 Aftermarket parts and field engineering services 63,087 73,073 Industrial steam generation 47,010 14,906 Eliminations (21,120 ) (3,683 ) 188,558 159,126 Vølund & Other Renewable segment Renewable new build and services 29,533 44,711 Operations and maintenance services 560 15,247 Eliminations (561 ) — 29,532 59,958 SPIG segment New build cooling systems 21,006 29,045 Aftermarket cooling system services 8,171 7,699 Eliminations (275 ) — 28,902 36,744 Eliminations (15,056 ) (2,652 ) $ 231,936 $ 253,176 Our primary measures of segment profitability are gross profit and adjusted earnings before interest, tax, depreciation and amortization ("EBITDA"). The presentation of the components of our gross profit and adjusted EBITDA in the tables below are consistent with the way our chief operating decision maker reviews the results of our operations and makes strategic decisions about our business. Items such as gains or losses on asset sales, mark to market ("MTM") pension adjustments, restructuring and spin costs, impairments, losses on debt extinguishment, costs related to financial consulting required under our U.S. Revolving Credit Facility and other costs that may not be directly controllable by segment management are not allocated to the segment. Beginning in the first quarter of 2019, pension benefit (expense), which affected only the Babcock & Wilcox segment, is also not allocated to adjusted EBITDA of the segments. Prior periods have been conformed to be comparable. Adjusted EBITDA for each segment is presented below with a reconciliation to net income. Adjusted EBITDA is not a recognized term under GAAP and should not be considered in isolation or as an alternative to net earnings (loss), operating profit (loss) or cash flows from operating activities as a measure of our liquidity. Adjusted EBITDA as presented below differs from the calculation used to compute our leverage ratio and interest coverage ratio as defined by our U.S. Revolving Credit Facility. Because all companies do not use identical calculations, the amounts presented for adjusted EBITDA may not be comparable to other similarly titled measures of other companies. Three months ended March 31, (in thousands) 2019 2018 Gross profit (loss) (1) : Babcock & Wilcox segment $ 31,106 $ 30,863 Vølund & Other Renewable segment (2,856 ) (50,449 ) SPIG segment 3,676 (2,751 ) Intangible amortization expense included in cost of operations (1,057 ) (1,832 ) 30,869 (24,169 ) Selling, general and administrative ("SG&A") expenses (42,269 ) (59,172 ) Advisory fees and settlement costs (13,610 ) (3,089 ) Intangible amortization expense included in SG&A (130 ) (237 ) Restructuring activities and spin-off transaction costs (6,079 ) (6,862 ) Research and development costs (743 ) (1,142 ) Equity in income and impairment of investees — (11,757 ) Operating loss $ (31,962 ) $ (106,428 ) (1) Intangible amortization is not allocated to the segments' gross profit, but depreciation is allocated to the segments' gross profit. Three months ended March 31, (in thousands) 2019 2018 Adjusted EBITDA Babcock & Wilcox segment (1) $ 8,964 $ 4,177 Vølund & Other Renewable segment (8,863 ) (61,754 ) SPIG segment 659 (7,310 ) Corporate (2) (4,984 ) (11,614 ) Research and development costs (743 ) (1,142 ) (4,967 ) (77,643 ) Restructuring activities and spin-off transaction costs (6,079 ) (6,862 ) Financial advisory services (3,958 ) (3,089 ) Settlement cost to exit Vølund contract (3) (6,575 ) — Advisory fees for settlement costs and liquidity planning (3,077 ) — Impairment of equity method investment in TBWES — (18,362 ) Gain on sale of equity method investment in BWBC — 6,509 Depreciation & amortization (7,306 ) (6,981 ) Operating loss (31,962 ) (106,428 ) Interest expense, net (10,575 ) (13,299 ) Net pension benefit before MTM 3,428 6,997 MTM loss from benefit plans (398 ) — Foreign exchange (10,153 ) 2,457 Other – net 420 397 Loss before income tax expense (49,240 ) (109,876 ) Income tax expense 626 6,963 Loss from continuing operations (49,866 ) (116,839 ) Loss from discontinued operations, net of tax — (3,496 ) Net loss (49,866 ) (120,335 ) Net income (loss) attributable to noncontrolling interest 101 (98 ) Net loss attributable to stockholders $ (49,765 ) $ (120,433 ) (1) The Babcock & Wilcox segment adjusted EBITDA for the three months ended March 31, 2018 excludes $7.0 million of net benefit from pension and other postretirement benefit plans, excluding MTM adjustments, that were previously included in the segment results. Beginning in 2019, Net pension benefits are no longer allocated to the segments, and prior periods have been adjusted to be presented on a comparable basis. (2) Allocations are excluded from discontinued operations. Accordingly, allocations previously absorbed by the MEGTEC and Universal businesses in the SPIG segment have been included with other unallocated costs in Corporate, and total $2.9 million in the three months ended March 31, 2018 . (3) In March 2019, we entered into a settlement in connection with an additional European waste-to-energy EPC contract, for which notice to proceed was not given and the contract was not started. The settlement eliminates our obligations and our risk related to acting as the prime EPC should the project move forward. We do not separately identify or report our assets by segment as our chief operating decision maker does not consider assets by segment to be a critical measure by which performance is measured.

REVENUE RECOGNITION AND CONTRAC

REVENUE RECOGNITION AND CONTRACTS	3 Months Ended
	Mar. 31, 2019
Revenue from Contract with Customer [Abstract]
REVENUE RECOGNITION AND CONTRACTS	REVENUE RECOGNITION AND CONTRACTS Adoption of Accounting Standards Codification ("ASC") Topic 606, Revenue from Contracts with Customers ("Topic 606") On January 1, 2018, we adopted Topic 606 using the modified retrospective method applied to all contracts that were not completed as of January 1, 2018. Results for reporting periods beginning on or after January 1, 2018 are presented under Topic 606, while prior period amounts are not adjusted and continue to be reported under the accounting standards in effect for the prior period. We recorded a $0.5 million net increase to opening retained earnings as of January 1, 2018 from the cumulative effect of adopting Topic 606 that primarily related to transitioning the timing of certain sales commissions expense. The effect on revenue from adopting Topic 606 was not material for the three months ended March 31, 2018. Contract Balances The following represents the components of our contracts in progress and advance billings on contracts included in our Condensed Consolidated Balance Sheets: (in thousands) March 31, 2019 December 31, 2018 $ Change % Change Contract assets - included in contracts in progress: Costs incurred less costs of revenue recognized $ 45,394 $ 49,910 $ (4,516 ) (9 )% Revenues recognized less billings to customers 91,013 94,817 (3,804 ) (4 )% Contracts in progress $ 136,407 $ 144,727 $ (8,320 ) (6 )% Contract liabilities - included in advance billings on contracts: Billings to customers less revenues recognized $ 152,416 $ 140,933 $ 11,483 8 % Costs of revenue recognized less cost incurred 2,863 8,434 (5,571 ) (66 )% Advance billings on contracts $ 155,279 $ 149,367 $ 5,912 4 % Net contract balance $ (18,872 ) $ (4,640 ) $ (14,232 ) 307 % Accrued contract losses $ 25,890 $ 61,651 $ (35,761 ) (58 )% The impact of adopting Topic 606 on components of our contracts in progress and advance billings on contracts was not material at January 1, 2018. Backlog On March 31, 2019 we had $766.0 million of remaining performance obligations, which we also refer to as total backlog. We expect to recognize approximately 50% , 15% and 35% of our remaining performance obligations as revenue in the remainder of 2019, 2020 and thereafter, respectively. Changes in Contract Estimates In the three months ended March 31, 2019 and 2018 , we recognized changes in estimated gross profit related to long-term contracts accounted for on the percentage-of-completion basis, which are summarized as follows: Three months ended March 31, (in thousands) 2019 2018 Increases in gross profits for changes in estimates for over time contracts $ 9,525 $ 5,337 Decreases in gross profits for changes in estimates for over time contracts (9,396 ) (54,865 ) Net changes in gross profits for changes in estimates for over time contracts $ 129 $ (49,528 ) Vølund EPC Loss Contracts We had six Vølund contracts for renewable energy facilities in Europe that were loss contracts at December 31, 2017. The scope of these EPC (Engineer, Procure and Construct) contracts extended beyond our core technology, products and services. In the three months ended March 31, 2019 and 2018, we recorded $4.1 million and $52.6 million and in net losses, respectively, resulting from changes in the estimated revenues and costs to complete the six European Vølund EPC loss contracts. In the three months ended March 31, 2019, we did no t change our estimate of liquidated damages on these contracts. These changes in estimates in the three months ended March 31, 2018 included increases in our estimates of anticipated liquidated damages that reduced revenue associated with these six contracts by $13.3 million . The total anticipated liquidated damages associated with these six contracts were $88.6 million and $90.3 million at March 31, 2019 and March 31, 2018 , respectively. As of March 2019, four of the six Vølund EPC loss contracts had been turned over to the customer, with only punch list or agreed remediation items remaining, some of which are expected to be performed during the customers' scheduled maintenance outages. This applies to the first, third, fourth and sixth loss contracts. The customers for the second and fifth loss contracts are related parties to each other, and a settlement agreement was reached on March 29, 2019 in order to limit our remaining risk related to these contracts. Under that settlement agreement, we paid a combined £70 million ( $91.5 million ) on April 5, 2019 in exchange for limiting and further defining our obligations under the second and fifth loss contracts, including waiver of the rejection and termination rights on the fifth loss contract that could have resulted in repayment of all monies paid to us and our former civil construction partner (up to approximately $144 million ), and requirement to restore the property to its original state if the customer exercised this contractual rejection right. On the fifth loss contract, we agreed to continue to support construction services to complete certain key systems of the plant by a specified date, for which penalty for failure to complete these systems is limited to the unspent portion of our quoted cost of the activities through that date. The settlement eliminated all historical claims and remaining liquidated damages. Upon completion of these activities in accordance with the settlement, we will have no further obligation related to the fifth loss contract other than customary warranty of core products if the plant is used as a biomass plant as designed. We estimated the portion of this settlement related to waiver of the rejection right on the fifth project was $81.1 million , which was recorded in the fourth quarter of 2018 as a reduction in the selling price. We are still pursuing insurance recoveries and claims against subcontractors. Additional engineering or core scope services may be provided by us on the fifth loss contract on commercially acceptable terms. We will provide operations and maintenance services under an existing contract for the fifth loss project if properly notified and the plant is used as a biomass plant as designed. For the second loss project, the settlement limited the remaining performance obligations and settled historic claims for nonconformance and delays, and we expect to turn over the plant in May 2019 and then begin the operations and maintenance contract that follows turnover of this plant. As of March 31, 2019 , the status of these six Vølund EPC loss contracts was as follows: The first contract, a waste-to-energy plant in Denmark, became a loss contract in the second quarter of 2016. As of March 31, 2019 , this contract is approximately 97% complete and construction activities are complete as of the date of this report. The unit became operational during the second quarter of 2017. A settlement was reached with the customer to achieve takeover on January 31, 2019, after which only punch list items and other agreed to remediation items remain, most of which are expected to be performed during the customer's scheduled maintenance outages. As of January 31, 2019, the contract is in the warranty phase. During the quarter ended March 31, 2019 , we did no t recognize further charges on the contract. Our estimate at completion as of March 31, 2019 includes $9.1 million of total expected liquidated damages. As of March 31, 2019 , the reserve for estimated contract losses recorded in "other accrued liabilities" in our Condensed Consolidated Balance Sheets was $3.6 million . In the quarter ended March 31, 2018 , we recognized additional contract losses of $7.1 million as a result of differences in actual and estimated costs and schedule delays. As of March 31, 2018 , this contract had $2.7 million of accrued losses and was 97% complete. The second contract, a biomass plant in the United Kingdom, became a loss contract in the fourth quarter of 2016. As of March 31, 2019 , this contract was approximately 98% complete. Trial operations began in April 2019 and takeover by the customer is expected in May 2019. This project is subject to the March 29, 2019 settlement agreement described above. During the three months ended March 31, 2019 , we recognized additional contract losses of $0.8 million on this contract as a result of repairs required during startup commissioning activities, additional expected punch list and other commissioning costs, and changes in construction cost estimates. Our estimate at completion as of March 31, 2019 includes $19.2 million of total expected liquidated damages due to schedule delays. Our estimates at completion as of March 31, 2019 and 2018 also include contractual bonus opportunities for guaranteed higher power output (discussed further below). As of March 31, 2019 , the reserve for estimated contract losses recorded in "other accrued liabilities" in our Condensed Consolidated Balance Sheets was $1.4 million . In the three months ended March 31, 2018 , we recognized contract losses of $4.1 million from changes in the expected selling price, construction cost estimates and schedule delays, and as of March 31, 2018 , this contract had $9.4 million of accrued losses and was 87% complete. The third contract, a biomass plant in Denmark, became a loss contract in the fourth quarter of 2016. As of March 31, 2019 , this contract was approximately 99% complete. Warranty began in March 2018, when we agreed to a partial takeover with the customer, and we agreed to a full takeover by the customer at the end of October 2018, when we also agreed to a scheduled timeline for remaining punch list activities to be completed around the customer's future planned outages. During the three months ended March 31, 2019 , we did no t recognize additional charges on the contract. Our estimate at completion as of March 31, 2019 includes $6.7 million of total expected liquidated damages due to schedule delays. As of March 31, 2019 , the reserve for estimated contract losses recorded in "other accrued liabilities" in our Condensed Consolidated Balance Sheets was $0.3 million . In the three months ended March 31, 2018 , we recognized charges of $1.9 million from changes in our estimate at completion, and as of March 31, 2018 , this contract had $0.8 million of accrued losses and was 98% complete. The fourth contract, a biomass plant in the United Kingdom, became a loss contract in the fourth quarter of 2016. As of March 31, 2019 , this contract was approximately 99% complete. Trial operations began in November 2018 and takeover by the customer occurred in February 2019, after which only final performance testing, for which performance metrics have been previously demonstrated, and punch list and other agreed upon items remain, some of which are expected to be performed during the customer's scheduled maintenance outages. During the three months ended March 31, 2019 , we recognized an $0.3 million additional contract charge due to changes in estimated cost to complete remaining punch list and other close out items. Our estimate at completion as of March 31, 2019 includes $20.8 million of total expected liquidated damages due to schedule delays. Our estimates at completion as of March 31, 2019 also include contractual bonus opportunities for guaranteed higher power output (discussed further below). As of March 31, 2019 , the reserve for estimated contract losses recorded in "other accrued liabilities" in our Condensed Consolidated Balance Sheets was $0.8 million . In the three months ended March 31, 2018 , we recognized contract losses of $12.1 million from changes in the expected selling price, changes in construction cost estimates and schedule delays, and as of March 31, 2018 , this contract had $5.7 million of accrued losses and was 87% complete. The fifth contract, a biomass plant in the United Kingdom, became a loss contract in the second quarter of 2017. As of March 31, 2019 , this contract was approximately 90% complete. This project is subject to the March 29, 2019 settlement agreement described above. We estimated the portion of this settlement related to waiver of the rejection right on the fifth project was $81.1 million , which was recorded in the fourth quarter of 2018 as a reduction in the selling price. Under the settlement, our remaining performance obligations were limited to support construction services to complete certain key systems of the plant by a specified date. The settlement also eliminates all historical claims and remaining liquidated damages. During the three months ended March 31, 2019, we recognized contract losses of $2.3 million due to change in estimate in subcontractor close out costs. Our estimate at completion as of March 31, 2019 , includes $13.7 million of total expected liquidated damages due to schedule delays. As of March 31, 2019 , the reserve for estimated contract losses recorded in "other accrued liabilities" in our Condensed Consolidated Balance Sheets was $15.8 million . In the three months ended March 31, 2018 , we recognized charges of $18.2 million , respectively from changes in our estimate at completion, and as of March 31, 2018 , this contract had $23.5 million of accrued losses and was 61% complete. The sixth contract, a waste-to-energy plant in the United Kingdom, became a loss contract in the second quarter of 2017. As of March 31, 2019 , this contract was approximately 98% complete. Trial operations began in December 2018 and customer takeover occurred on January 25, 2019, after which only final performance testing, for which performance metrics have been previously demonstrated, and punch list and other agreed upon items remain, some of which are expected to be performed during the customer's scheduled maintenance outages. The contract is in the warranty phase. During the three months ended March 31, 2019 , we revised our estimated revenue and costs at completion for this loss contract, which resulted in additional contract charges of $0.8 million related to matters encountered in completing punch list items. Our estimate at completion as of March 31, 2019 includes $19.1 million of total expected liquidated damages due to schedule delays. As of March 31, 2019 , the reserve for estimated contract losses recorded in "other accrued liabilities" in our Condensed Consolidated Balance Sheets was $0.6 million . In the year ended March 31, 2018 , we recognized additional contract losses of $9.3 million changes in our estimate at completion, and as of March 31, 2018 , this contract had $3.5 million of accrued losses and was 83% complete. In September 2017, we identified the failure of a structural steel beam on the fifth contract, which stopped work in the boiler building and other areas pending corrective actions to stabilize the structure. Provisional regulatory approval to begin structural repairs to the failed beam was obtained on March 29, 2018 (later than previously estimated), and full approval to proceed with repairs was obtained in April 2018. Full access to the site was obtained on June 6, 2018 after completion of the repairs to the structure. The engineering, design and manufacturing of the steel structure were the responsibility of our subcontractors. A similar design was also used on the second and fourth contracts, and although no structural failure occurred on these two other contracts, work was also stopped in certain restricted areas while we added reinforcement to the structures, which also resulted in delays that lasted until late January 2018. The total costs related to the structural steel issues on these three contracts, including contract delays, are estimated to be approximately $36 million , which is included in the March 31, 2019 estimated losses at completion for these three contracts. Also, during the third quarter of 2017, we implemented a design change in three of the renewable facilities to increase the guaranteed power output, which will allow us to achieve contractual bonus opportunities for the higher output. In the fourth quarter of 2017, we obtained agreement from certain customers to increase the value of these bonus opportunities and to provide partial relief on liquidated damages. The bonus opportunities and liquidated damages relief increased the estimated selling price of the three contracts by approximately $19 million in total, and this positive change in estimated cost to complete was fully recognized in 2017 because each was a loss contract. During the third quarter of 2016, we determined it was probable that we would receive a DKK 100.0 million ( $15.5 million ) insurance recovery for a portion of the losses on the first Vølund contract discussed above. In May 2018, our insurer disputed coverage on our insurance claim. We believe that the dispute from the insurer is without merit and continue to believe we are entitled to the full value of the claim. We intend to aggressively pursue full recovery under the policy, and we filed for arbitration in July 2018. However, an allowance for the receivable was recorded in 2018 based upon the dispute by the insurer, which is considered contradictory evidence in the accounting probability assessment of this loss recovery, even if it is believed to be without merit. The insurance recovery of $15.5 million is recorded in "accounts receivable - other" in our Condensed Consolidated Balance Sheets, offset by a $12.2 million reserve at March 31, 2019 . Other Vølund Contract Settlement In March 2019, we entered into a settlement in connection with an additional European waste-to-energy EPC contract, for which notice to proceed was not given and the contract was not started. The £ 5.0 million ( $6.6 million ) settlement eliminates our obligations and our risk related to acting as the prime EPC should the project move forward. SPIG U.S. Loss Contract At March 31, 2019, SPIG had one significant loss contract, which is a contract to engineer, procure materials and then construct a dry cooling system for a gas-fired power plant in the U.S. At March 31, 2019 , the design and procurement are substantially complete, and construction is underway. Overall, the contract is 86% complete and it is expected be fully complete in mid-2019. As of March 31, 2019 , the reserve for estimated contract losses recorded in "other accrued liabilities" in our Condensed Consolidated Balance Sheets was $2.0 million related to this contract. Construction is being performed by the Babcock & Wilcox segment, but the contract loss is included in the SPIG segment.

RESTRUCTURING ACTIVITIES AND SP

RESTRUCTURING ACTIVITIES AND SPIN-OFF TRANSACTION COSTS	3 Months Ended
	Mar. 31, 2019
Restructuring and Related Activities [Abstract]
RESTRUCTURING ACTIVITIES AND SPIN-OFF TRANSACTION COSTS	RESTRUCTURING ACTIVITIES AND SPIN-OFF TRANSACTION COSTS The following tables summarize the restructuring activity and spin-off costs incurred by segment. (in thousands) Three months ended March 31, 2019 Total severance and related costs Babcock & Wilcox segment $ 3,947 Vølund & Other Renewable segment 578 SPIG segment 144 Corporate 1,410 $ 6,079 (in thousands) Three months ended March 31, 2018 Severance and related costs Exit costs Spin-off transaction costs Total Babcock & Wilcox segment $ 1,093 $ 143 $ — $ 1,236 Vølund & Other Renewable segment 494 — — 494 SPIG segment 383 — — 383 Corporate 4,374 — 375 4,749 $ 6,344 $ 143 $ 375 $ 6,862 In 2018, we began to implement a series of cost restructuring actions, primarily in our U.S., European, Canadian and Asian operations, and corporate functions. These actions were intended to appropriately size our operations and support functions in response to the continuing decline in certain global markets for new build coal-fired power generation, the announcement of the MEGTEC and Universal sale and our liquidity needs. Severance actions across our business units, including executive severances, resulted in $6.1 million and $6.9 million of expense in the three months ended March 31, 2019 and 2018 , respectively. Severance expense is recognized over the remaining service periods of affected employees, and as of March 31, 2019 , $2.0 million of total severance expense is remaining to be recognized based on actions taken through that date. Restructuring liabilities are included in other accrued liabilities on our Condensed Consolidated Balance Sheets. Activity related to the restructuring liabilities is as follows: Three months ended March 31, (in thousands) 2019 2018 Balance at beginning of period $ 7,359 $ 2,244 Restructuring expense 6,079 5,888 Payments (3,242 ) (2,218 ) Balance at March 31 $ 10,196 $ 5,914 Accrued restructuring liabilities at March 31, 2019 and 2018 relate primarily to employee termination benefits. Excluded from restructuring expense in the table above are non-cash restructuring charges that did not impact the accrued restructuring liability. In the three months ended March 31, 2018, we recognized $0.6 million in non-cash restructuring expense related to losses on the disposals of long-lived assets.

PROVISION FOR INCOME TAXES

PROVISION FOR INCOME TAXES	3 Months Ended
	Mar. 31, 2019
Income Tax Disclosure [Abstract]
PROVISION FOR INCOME TAXES	PROVISION FOR INCOME TAXES In the three months ended March 31, 2019, income tax expense was $0.6 million , resulting in an effective tax rate of (1.3)% . In the three months ended March 31, 2018, income tax expense was $7.0 million , with an effective tax rate of (6.3)% . We are subject to federal income tax in the United States and numerous countries that have statutory tax rates different than the U.S. federal statutory rate of 21%. The most significant of these foreign operations are located in Canada, Denmark, Germany, Italy, Mexico, Sweden and the United Kingdom with effective tax rates ranging between 19% and approximately 30% . We provide for income taxes based on the tax laws and rates in the jurisdictions in which we conduct our operations. These jurisdictions may have regimes of taxation that vary with respect to both nominal rates and the basis on which these rates are applied. Our consolidated effective income tax rate can vary significantly from period to period due to these variations, changes in jurisdictional mix of our income and valuation allowances in certain jurisdictions that can offset income tax expense or benefit. Our effective tax rate for the three months ended March 31, 2019 is not reflective of the U.S. statutory rate primarily due to valuation allowances against our net deferred tax assets. In jurisdictions where we have available net operating loss carryforwards ("NOLs"), such as the U.S., Denmark and Italy, the existence of a full valuation allowance against deferred tax assets results in income tax benefit or expense relating primarily to discrete items. In other profitable jurisdictions, however, we may record income tax expense, even though we have established a full valuation allowance against our net deferred tax assets. We have favorable discrete items of $0.2 million in the three months ended March 31, 2019. As a result of accumulations of the Company's common stock among several large shareholders and the impact of the 2018 Rights Offering that was completed on April 30, 2018, we continue to monitor for the possibility of an ownership change as defined under Internal Revenue Code ("IRC") Section 382. Under IRC Section 382, a company has undergone an ownership change if shareholders owning at least 5% of the Company have increased their collective holdings by more than 50% during the prior three-year period. In general, if an ownership change occurs, our ability to use net operating losses and other tax attributes (including certain credits and previously disallowed interest deductions) to reduce tax payments is limited to an annual amount based on the fair market value of our stock immediately prior to the ownership change multiplied by the applicable long term tax exempt interest rate. Based on information that is publicly available, the Company does not currently believe it has experienced an ownership change. However, a relatively small increase in ownership by any of our shareholders owning at least 5% of the Company could result in an ownership change. To illustrate, if we had experienced an ownership change as of March 31, 2019, the future utilization of our federal NOLs (and certain credits and previously disallowed interest deductions) would become limited to approximately $1.7 million annually ( $0.4 million tax effected). The actual determination of the annual Section 382 limitation would be dependent upon the value of the Company multiplied by the long-term tax-exempt rate at the time the ownership change occurred. New Tax Act The United States Tax Cuts and Jobs Act (the “Tax Act”) was enacted on December 22, 2017 and introduced significant changes to the United States income tax law. Beginning in 2018, the Tax Act reduced the United States statutory corporate income tax rate from 35% to 21% and created a modified territorial system that will generally allow United States companies a full dividend received deduction for any future dividends from non-U.S. subsidiaries. In addition to the tax rate reduction and changes to the territorial nature of the US tax system, the Tax Act introduced a new limitation on interest deductions, a Foreign Derived Intangible Income (“FDII”) and new minimum tax on foreign sourced income, Global Low Taxed Intangible Income (“GILTI”). The Company will account for GILTI as a period cost in the year the tax is incurred. In 2019, we do not anticipate any FDII benefit or GILTI taxes but expect an interest limitation. This disallowed interest expense will be available for carryforward and is not subject to expiration but can only be used in a future year when the net interest expense for that period (including carryforward amounts) exceeds the relevant annual limitation.

COMPREHENSIVE INCOME

COMPREHENSIVE INCOME	3 Months Ended
	Mar. 31, 2019
Equity [Abstract]
COMPREHENSIVE INCOME	COMPREHENSIVE INCOME Gains and losses deferred in accumulated other comprehensive income (loss) ("AOCI") are reclassified and recognized in the Condensed Consolidated Statements of Operations once they are realized. The changes in the components of AOCI, net of tax, for the three months ended March 31, 2019 and 2018 were as follows: (in thousands) Currency translation (loss) gain Net unrealized gain (loss) on derivative instruments (1) Net unrecognized (loss) gain related to benefit plans (net of tax) Total Balance at December 31, 2018 $ (10,834 ) $ 1,362 $ (1,960 ) $ (11,432 ) Other comprehensive income (loss) before reclassifications 10,260 (1,178 ) — 9,082 Reclassified from AOCI to net income (loss) — 224 (356 ) (132 ) Net other comprehensive income (loss) 10,260 (954 ) (356 ) 8,950 Balance at March 31, 2019 $ (574 ) $ 408 $ (2,316 ) $ (2,482 ) (1) The remaining unrealized FX gain/(loss) is expected to be recognized over time as the related projects are completed. (in thousands) Currency translation (loss) gain Net unrealized gain (loss) on investments (net of tax) Net unrealized gain (loss) on derivative instruments Net unrecognized gain (loss) related to benefit plans (net of tax) Total Balance at December 31, 2017 $ (27,837 ) $ 38 $ 1,737 $ 3,633 $ (22,429 ) ASU 2016-1 cumulative adjustment (1) — (38 ) — — (38 ) Other comprehensive income (loss) before reclassifications 3,223 — 1,224 (55 ) 4,392 Reclassified from AOCI to net income (loss) (2,044 ) — (1,272 ) (384 ) (3,700 ) Net other comprehensive income (loss) 1,179 (38 ) (48 ) (439 ) 654 Balance at March 31, 2018 $ (26,658 ) $ — $ 1,689 $ 3,194 $ (21,775 ) (1) ASU 2016-1, Financial Instruments-Overall: Recognition and Measurement of Financial Assets and Financial Liabilities, requires investments to be measured at fair value through earnings each reporting period as opposed to changes in fair value being reported in other comprehensive income (loss). The standard was effective as of January 1, 2018 and requires application by means of a cumulative-effect adjustment to the balance sheet as of the beginning of the fiscal year of adoption. The amounts reclassified out of AOCI by component and the affected Condensed Consolidated Statements of Operations line items are as follows (in thousands): AOCI component Line items in the Condensed Consolidated Statements of Operations affected by reclassifications from AOCI Three months ended March 31, 2019 2018 Release of currency translation gain with the sale of equity method investment Equity in income and impairment of investees $ — $ 2,044 Provision for income taxes — — Net loss $ — $ 2,044 Derivative financial instruments Revenues $ — $ 1,616 Cost of operations — 12 Other (289 ) — Total before tax (289 ) 1,628 Provision (benefit) for income taxes (65 ) 356 Net income $ (224 ) $ 1,272 Amortization of prior service cost on benefit obligations Benefit plans, net $ 356 $ 384 Provision (benefit) for income taxes — — Net income (loss) $ 356 $ 384

INVENTORIES

INVENTORIES	3 Months Ended
	Mar. 31, 2019
Inventory Disclosure [Abstract]
INVENTORIES	INVENTORIES The components of inventories are as follows: (in thousands) March 31, 2019 December 31, 2018 Raw materials and supplies $ 45,303 $ 44,833 Work in progress 6,091 5,348 Finished goods 12,395 11,142 Total inventories $ 63,789 $ 61,323

EQUITY METHOD INVESTMENTS

EQUITY METHOD INVESTMENTS	3 Months Ended
	Mar. 31, 2019
Equity Method Investments and Joint Ventures [Abstract]
EQUITY METHOD INVESTMENTS	EQUITY METHOD INVESTMENTS We do not have any remaining investments in equity method investees at either March 31, 2019 or December 31, 2018. During the first quarter of 2018, we sold our interest in BWBC to our joint venture partner in China for approximately $21.1 million , resulting in a gain of approximately $6.5 million , which was classified in equity income of investees in the Condensed Consolidated Statement of Operations. Proceeds from this sale, net of $1.3 million of withholding tax, were $19.8 million . Our former equity method investment in BWBC had a manufacturing facility that designed, manufactured, produced and sold various power plant and industrial boilers, primarily in China. In July 2018, we completed the sale of our investment in TBWES together with the settlement of related contractual claims and received $15.0 million in cash, of which $7.7 million related to our investment in TBWES and $7.3 million of proceeds were used to pay outstanding claims. In July 2018, the AOCI related to cumulative currency translation loss from our investment in TBWES of $2.6 million was also recognized as a loss and is included in foreign exchange with other income (expense) in our Condensed Consolidated Statement of Operations. TBWES had a manufacturing facility that produced boiler parts and equipment intended primarily for new build coal boiler contracts in India. During the first quarter of 2018, based on a preliminary agreement to sell our investment in TBWES, we recognized an additional $18.4 million other-than-temporary-impairment. The impairment charge was based on the difference in the carrying value of our investment in TBWES and the preliminary sale price. The other-than-temporary-impairment loss was classified in equity income of investees in the Condensed Consolidated Statements of Operations.

GOODWILL

GOODWILL	3 Months Ended
	Mar. 31, 2019
Goodwill and Intangible Assets Disclosure [Abstract]
GOODWILL	GOODWILL The following summarizes the changes in the net carrying amount of goodwill as of March 31, 2019: (in thousands) Babcock & Wilcox Balance at December 31, 2018 $ 47,108 Currency translation adjustments 23 Balance at March 31, 2019 $ 47,131 In January 2017, the Financial Accounting Standards Board ("FASB") issued ASU 2017-04, Intangibles—Goodwill and Other (Topic 350), Simplifying the Test for Goodwill Impairment (ASU 2017-04) . The standard simplifies the subsequent measurement of goodwill by removing the requirement to perform a hypothetical purchase price allocation to compute the implied fair value of goodwill to measure impairment. Instead, goodwill impairment is measured as the difference between the fair value of the reporting unit and the carrying value of the reporting unit. The standard also clarifies the treatment of the income tax effect of tax-deductible goodwill when measuring goodwill impairment loss. We early adopted ASU 2017-04 on April 1, 2018, effective the first day of our 2018 second quarter. Goodwill is tested for impairment annually and when impairment indicators exist. Because the Babcock & Wilcox reporting unit had a negative carrying value, reasonable changes in the assumptions would not indicate impairment. No impairment indicators were identified during the three months ended March 31, 2019.

INTANGIBLE ASSETS

INTANGIBLE ASSETS	3 Months Ended
	Mar. 31, 2019
Goodwill and Intangible Assets Disclosure [Abstract]
INTANGIBLE ASSETS	INTANGIBLE ASSETS Our intangible assets are as follows: (in thousands) March 31, 2019 December 31, 2018 Definite-lived intangible assets Customer relationships $ 24,638 $ 24,764 Unpatented technology 14,887 15,098 Patented technology 2,601 2,616 Tradename 12,407 12,566 Backlog 17,760 17,760 All other 9,749 9,728 Gross value of definite-lived intangible assets 82,042 82,532 Customer relationships amortization (17,608 ) (17,219 ) Unpatented technology amortization (4,139 ) (3,760 ) Patented technology amortization (2,380 ) (2,348 ) Tradename amortization (3,820 ) (3,672 ) Acquired backlog amortization (17,760 ) (17,760 ) All other amortization (8,524 ) (8,285 ) Accumulated amortization (54,231 ) (53,044 ) Net definite-lived intangible assets $ 27,811 $ 29,488 Indefinite-lived intangible assets Trademarks and trade names $ 1,305 $ 1,305 Total intangible assets, net $ 29,116 $ 30,793 The following summarizes the changes in the carrying amount of intangible assets: Three months ended March 31, (in thousands) 2019 2018 Balance at beginning of period $ 30,793 $ 42,065 Amortization expense (1,187 ) (2,069 ) Currency translation adjustments and other (490 ) 400 Balance at end of the period $ 29,116 $ 40,396 Amortization of intangible assets is included in cost of operations and SG&A in our Condensed Consolidated Statement of Operations, but it is not allocated to segment results. Estimated future intangible asset amortization expense is as follows (in thousands): Amortization expense Three months ending June 30, 2019 1,000 Three months ending September 30, 2019 1,000 Three months ending December 31, 2019 987 Twelve months ending December 31, 2020 3,453 Twelve months ending December 31, 2021 3,231 Twelve months ending December 31, 2022 3,165 Twelve months ending December 31, 2023 3,158 Twelve months ending December 31, 2024 3,044 Thereafter 8,773

PROPERTY, PLANT & EQUIPMENT

PROPERTY, PLANT & EQUIPMENT	3 Months Ended
	Mar. 31, 2019
Property, Plant and Equipment [Abstract]
PROPERTY, PLANT & EQUIPMENT	PROPERTY, PLANT & EQUIPMENT Property, plant and equipment less accumulated depreciation is as follows: (in thousands) March 31, 2019 December 31, 2018 Land $ 3,552 $ 3,575 Buildings 106,405 106,238 Machinery and equipment 181,134 181,825 Property under construction 2,244 2,290 293,335 293,928 Less accumulated depreciation 208,383 203,036 Net property, plant and equipment $ 84,952 $ 90,892 In September 2018, we relocated our corporate headquarters to Barberton, Ohio from Charlotte, North Carolina. At the same time, we announced that we would consolidate most of our Barberton and Copley, Ohio operations into new, leased office space in Akron, Ohio near the end of the third quarter of 2019. We do not expect to incur significant relocation costs; however, we expect $7.9 million of accelerated depreciation to be recognized through mid-2019, of which $2.0 million was recognized during the first quarter ended March 31, 2019 and $5.3 million has been recognized cumulatively, since the decision to relocate in the third quarter of 2019.

WARRANTY EXPENSE

WARRANTY EXPENSE	3 Months Ended
	Mar. 31, 2019
Product Warranties Disclosures [Abstract]
WARRANTY EXPENSE	WARRANTY EXPENSE We may offer assurance type warranties on products and services we sell. Changes in the carrying amount of our accrued warranty expense are as follows: Three months ended March 31, (in thousands) 2019 2018 Balance at beginning of period $ 45,117 $ 33,514 Additions 1,991 4,726 Expirations and other changes (385 ) (1,356 ) Payments (1,271 ) (2,739 ) Translation and other (628 ) 583 Balance at end of period $ 44,824 $ 34,728 We accrue estimated expense included in cost of operations to satisfy contractual warranty requirements when we recognize the associated revenues on the related contracts, or in the case of a loss contract, the full amount of the estimated warranty costs is accrued when the contract becomes a loss contract. In addition, we record specific provisions or reductions where we expect the actual warranty costs to significantly differ from the accrued estimates. Such changes could have a material effect on our consolidated financial condition, results of operations and cash flows.

LEASES

LEASES	3 Months Ended
	Mar. 31, 2019
Leases [Abstract]
LEASES	LEASES Accounting for leases In February 2016, the FASB issued ASU 2016-02, Leases (Topic 842) . We adopted this new standard on January 1, 2019 and used the effective date as our date of initial application while continuing to present the comparative periods in accordance with the guidance under the lease standard in effect during those prior periods in the Condensed Consolidated Financial Statements. We recorded an immaterial cumulative-effect adjustment to the opening balance of retained earnings on the date of adoption. We elected the “package of practical expedients”, which permits us not to reassess under the new standard our prior conclusions about lease identification, lease classification and initial direct costs. However, we did not elect to adopt the hindsight practical expedient and are therefore maintaining the lease terms we previously determined under ASC 840. We have implemented new lease accounting software and have established new processes and internal controls that are required to comply with the new lease accounting and disclosure requirements set forth by the new standard. See Note 26 for additional information about the impact of adopting ASC 842 in the Condensed Consolidated Financial Statements. We determine if an arrangement is a lease at inception. Leases are included in Right-of-use (“ROU”) assets, Lease liabilities and Noncurrent lease liabilities in the Condensed Consolidated Balance Sheets. ROU assets and lease liabilities are recognized based on the present value of the future minimum lease payments over the lease term at commencement date. As substantially all of our leases do not provide an implicit rate, we use our incremental borrowing rate based on the information available at lease commencement date in determining the present value of future payments. The ROU assets also include any lease payments made and excludes lease incentives and initial direct costs incurred. Our lease terms may include options to extend or terminate the lease when it is reasonably certain that we will exercise that option. Lease expense for minimum lease payments is recognized on a straight-line basis over the lease term. Leases with an initial term of 12 months or less are not recorded on the balance sheet. For leases beginning in 2019 and later, we account for lease components (e.g., fixed payments including rent, real estate taxes and insurance costs) together with the non-lease components (e.g., common-area maintenance costs) as a single lease component for all classes of underlying assets. Additionally, in September 2018, we announced that we would consolidate most of our Barberton and Copley, Ohio operations into new, leased office space in Akron, Ohio near the end of the third quarter of 2019. As of March 31, 2019, the operating lease agreement for the office space in Akron had not yet commenced; it will commence when it is ready for occupation. The lease has an initial term of fifteen years , with an option to extend up to two additional ten -year terms. Base rent will increase two percent annually, making the total future minimum payments during the initial term of the lease approximately $55 million . This lease, which has not yet commenced, is not included in the following tables. Operating Leases We have operating leases for real estate, vehicles, and certain equipment. We do not have any financing leases in our portfolio. Our leases have remaining lease terms of up to 10 years , some of which may include options to extend the leases for up to 5 years , and some of which may include options to terminate the leases within 1 year . The components of lease expense were as follows: Three Months Ended (in thousands) March 31, 2019 Operating lease expense $ 1,909 Short-term lease expense 2,861 Variable lease expense 112 Sublease income (1) (10 ) Total lease expense $ 4,872 (1) Sublease income excludes rental income from owned properties. Other information related to leases is as follows: Three Months Ended (in thousands, except lease term and discount rate) March 31, 2019 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from leases $ 2,101 Right-of-use assets obtained in exchange for lease liabilities: Operating leases $ 201 Weighted-average remaining lease term: Operating leases (in years) 3.5 Weighted-average discount rate: Operating leases 9.50 % Amounts relating to leases were presented in the Condensed Consolidated Balance Sheets as of March 31, 2019 in the following line items: (in thousands) March 31, 2019 Right-of-use assets $ 15,067 Liabilities: Lease liabilities $ 4,895 Noncurrent lease liabilities 9,976 Total lease liabilities $ 14,871 Future minimum lease payments required under non-cancellable operating leases as of March 31, 2019 were as follows: (in thousands) 2019 (excluding the three months ended March 31, 2019) $ 4,670 2020 5,032 2021 3,569 2022 1,987 2023 1,234 Thereafter 908 Total $ 17,400 Less imputed interest (2,529 ) Lease liability $ 14,871

PENSION PLANS AND OTHER POSTRET

PENSION PLANS AND OTHER POSTRETIREMENT BENEFITS	3 Months Ended
	Mar. 31, 2019
Retirement Benefits [Abstract]
PENSION PLANS AND OTHER POSTRETIREMENT BENEFITS	PENSION PLANS AND OTHER POSTRETIREMENT BENEFITS Components of net periodic benefit cost (benefit) included in net income (loss) are as follows: Pension Benefits Other Benefits Three Months Ended March 31, Three Months Ended March 31, (in thousands) 2019 2018 2019 2018 Interest cost $ 10,860 $ 9,757 $ 121 $ 97 Expected return on plan assets (13,920 ) (16,230 ) — — Amortization of prior service cost 50 25 (539 ) (646 ) Recognized net actuarial loss (gain) 398 — — — Benefit plans, net (1) (2,612 ) (6,448 ) (418 ) (549 ) Service cost included in COS (2) 217 189 4 4 Net periodic benefit cost (benefit) $ (2,395 ) $ (6,259 ) $ (414 ) $ (545 ) (1) Benefit plans, net, which is presented separately in the Condensed Consolidated Statements of Operations, is not allocated to the segments. (2) Service cost related to a small group of active participants is presented within cost of sales in the Condensed Consolidated Statement of Operations and is allocated to the Babcock & Wilcox segment. Lump sum payments from our Canadian Plans resulted in an immaterial plan settlement gain during the three months ended March 31, 2019. The settlement also triggered an interim MTM remeasurement of the Canadian Plan's assets and liabilities that was a loss of $0.4 million in the three months ended March 31, 2019. Both the settlement gain and the MTM remeasurement are reflected in the "Recognized net actuarial loss (gain) " in the table above and are included in our Condensed Consolidated Statements of Operations in the "Benefit plans, net" line item. We made contributions to our pension and other postretirement benefit plans totaling $1.5 million and $3.4 million during the three months ended March 31, 2019 and 2018, respectively. Expected employer contributions to the U.S. Plan assume that relief under pension contribution waivers that were filed with the IRS in January 2019 and are planned to be re-filed with the IRS later in 2019, which would defer minimum pension contributions for approximately one year to then be repaid over a five-year period. If the temporary hardship waivers are not fully granted, required employer contributions in 2019 could increase up to approximately $15 million in 2019.

REVOLVING DEBT

REVOLVING DEBT	3 Months Ended
	Mar. 31, 2019
Debt Disclosure [Abstract]
REVOLVING DEBT	REVOLVING DEBT The components of our revolving debt are comprised of separate revolving credit facilities in the following locations: (in thousands) March 31, 2019 December 31, 2018 United States $ 175,300 $ 144,900 Foreign — 606 Total revolving debt $ 175,300 $ 145,506 U.S. Revolving Credit Facility On May 11, 2015, we entered into "the Amended Credit Agreement" with a syndicate of lenders in connection with our spin-off from The Babcock & Wilcox Company (now BWX Technologies, Inc. or "BWXT") which governs the U.S. Revolving Credit Facility and the Last Out Term Loans. Since June 2016, we have entered into a number of waivers and amendments ("the Amendments") to the Amended Credit Agreement, including those to avoid default. As of March 31, 2019, we were in compliance with the terms of the Amended Credit Agreement subject to the limited waivers that extended through April 5, 2019. On April 5, 2019, we entered into Amendment No. 16 to the Amended Credit Agreement. Amendment No. 16 provides (i) $150.0 million in additional commitments from B. Riley FBR, Inc., under Tranche A-3 of last out term loans described in Note 18 and (ii) an incremental uncommitted facility of up to $15.0 million , to be provided by B. Riley or an assignee. The U.S. Revolving Credit Facility as in effect at March 31, 2019 was scheduled to mature on June 30, 2020; however, Amendment No. 16 created a new event of default for failure to terminate the existing revolving credit facility on or prior to March 15, 2020. The U.S. Revolving Credit Facility provides for a senior secured revolving credit facility in an aggregate amount of up to $347.0 million , as amended and adjusted for completed asset sales. The proceeds from loans under the U.S. Revolving Credit Facility are available for working capital needs, capital expenditures, permitted acquisitions and other general corporate purposes, and the full amount is available to support the issuance of letters of credit, subject to the limits specified in the amendment described below. As of March 31, 2019, we were nearly fully drawn on the U.S. Revolving Credit Facility, but we had availability of approximately $35 million on April 8, 2019 after giving effect to the proceeds received under Tranche A-3 of the Last Out Term Loans borrowed on April 5, 2019, making the Vølund contract settlement payments described in Note 5 .and repaying a portion of our existing revolving credit loans. The Amended Credit Agreement and our obligations under certain hedging agreements and cash management agreements with our lenders and their affiliates continue to be (1) guaranteed by substantially all of our wholly owned domestic subsidiaries and certain of our foreign subsidiaries, but excluding our captive insurance subsidiary, and (2) secured by first-priority liens on certain assets owned by us and the guarantors. The U.S. Revolving Credit Facility requires interest payments on revolving loans on a periodic basis until maturity. We may prepay all loans at any time without premium or penalty (other than customary LIBOR breakage costs), subject to notice requirements, with the exception to the prepayment of certain Last Out Term Loans pursuant to the Equitization Transactions described in Note 19 ; such Last Out Term Loan prepayments are further limited by an aggregate principal amount of $86 million plus interest. The U.S. Revolving Credit Facility requires certain prepayments on any outstanding revolving loans after receipt of cash proceeds from certain asset sales or other events, subject to certain exceptions. Such prepayments may require us to reduce the commitments under the U.S. Revolving Credit Facility by a corresponding amount of such prepayments. After giving effect to the Amendments through March 31, 2019, revolving loans outstanding under the U.S. Revolving Credit Facility bear interest at our option at either (1) the LIBOR rate plus 5.0% per annum during 2018, 6.0% per annum during 2019 and 7.0% per annum during 2020, or (2) the Base Rate plus 4.0% per annum during 2018, 5.0% per annum during 2019, and 6.0% per annum during 2020. The Base Rate is the highest of the Federal Funds rate plus 0.5% , the one-month LIBOR rate plus 1.0% , or the administrative agent's prime rate. The components of our interest expense are detailed in Note 24 . A commitment fee of 1.0% per annum is charged on the unused portions of the U.S. Revolving Credit Facility. Additionally, an annual facility fee of $1.5 million was payable on the first business day of 2018 and 2019, and a pro-rated amount is payable on the first business day of 2020. A deferred fee of 2.5% was charged until October 9, 2018 and decreased to 1.5% effective October 10, 2018 due to achieving certain asset sales. A letter of credit fee of 2.5% per annum is charged with respect to the amount of each financial letter of credit outstanding, and a letter of credit fee of 1.5% per annum is charged with respect to the amount of each performance and commercial letter of credit outstanding. Letter of credit fees are payable on the tenth business day after the last business day of each fiscal quarter. Commencing with Amendment No. 16, a deferred ticking fee of 1% will be charged if certain actions are not undertaken to refinance the facility by December 15, 2019, in addition to an incremental 1% per month after December 15, 2019. A contingent consent fee of 4% will be charged with respect to Amendment No. 16 if certain actions are not undertaken to refinance the facility by December 15, 2019. The Amended Credit Agreement includes financial covenants that are tested on a quarterly basis, based on the rolling four-quarter period that ends on the last day of each fiscal quarter. These include a maximum permitted senior debt leverage ratio and a minimum consolidated interest coverage ratio, each as defined in the Amended Credit Agreement. Compliance with these ratios was waived with respect to the quarter ended December 31, 2018 and new ratios were established in Amendment No. 16 commencing with respect to the quarter ended March 31, 2019. Amendment No. 16 also, among other items, (1) modifies the definition of EBITDA in the Credit Agreement to, among other things, include addbacks related to losses in connection with the Vølund projects, fees and expenses related to the Amendment and prior waivers to the Credit Agreement and fees associated with Vølund project related settlement agreements, (2) reduces to $30 million the minimum liquidity we are required to maintain at the time of any credit extension request and at the last business day of any calendar month, (3) allows for the issuance of up to $20.0 million of new letters of credit with respect to any future Vølund project, (4) changes the consolidated interest coverage and senior leverage coverage ratios, (5) decreases the relief period borrowing sublimit, (6) changes or removes certain contract completion milestones that we had been required to meet in connection with one renewable energy project, (7) permits letters of credit to expire one year after the maturity of the revolving credit facility, (8) resets the loss basket for certain Vølund contracts to $10.0 million , (9) creates a new event of default for failure to terminate the existing revolving credit facility on or prior to March 15, 2020, (10) establishes a deferred ticking fee of 1% if certain actions are not undertaken to refinance the facility by December 15, 2019, in addition to an incremental 1% per month after December 15, 2019 and (11) provides for a contingent consent fee of 4% if certain actions are not undertaken to refinance the facility by December 15, 2019. Effective beginning April 5, 2019 with Amendment No. 16, the maximum permitted senior debt leverage ratio, as defined in the Amended Credit Agreement, is: • 9.75 :1.00 for the quarter ending March 31, 2019 • 9.25 :1.00 for the quarter ending June 30, 2019 • 6.75 :1.00 for the quarter ending September 30, 2019 • 6.00 :1.00 for the quarter ending December 31, 2019 • 3.50 :1.00 for the quarter ending March 31, 2020 • 3.25 :1.00 for the quarter ending June 30, 2020 provided that for the purpose of calculating the senior debt leverage ratio for the quarter ended March 31, 2019, the senior leverage ratio is calculated by giving effect of the prepayment of the revolving loans under the U.S. Revolving Credit Facility on April 8, 2019 as if such prepayment was made on March 31, 2019. Effective beginning April 5, 2019 with Amendment No. 16, the minimum consolidated interest coverage ratio, as defined in the Amended Credit Agreement, is: • 0.75 :1.00 for the quarter ending March 31, 2019 • 0.90 :1.00 for the quarter ending June 30, 2019 • 1.10 :1.00 for the quarter ending September 30, 2019 • 1.10 :1.00 for the quarter ending December 31, 2019 • 1.50 :1.00 for the quarter ending March 31, 2020 • 1.75 :1.00 for the quarter ending June 30, 2020 At March 31, 2019 , borrowings under the U.S. Revolving Credit Facility consisted of $175.3 million at a weighted average interest rate of 8.62% . Usage under the U.S. Revolving Credit Facility consisted of $175.3 million of borrowings, $28.9 million of financial letters of credit and $139.9 million of performance letters of credit. At March 31, 2019 , we had approximately $2.8 million available for borrowings or to meet letter of credit requirements primarily based on our overall facility size, our borrowing sublimit, and the limited waivers described in Note 19 . Foreign Revolving Credit Facilities Outside of the United States, we had revolving credit facilities in Turkey that were used to provide working capital to local operations. At December 31, 2018, we had aggregate borrowings under these facilities of $0.6 million whose weighted average interest rate was 40.0% . In 2018, our banking counterparties in Turkey began requiring the conversion of these revolving credit facilities to Turkish lira denomination from euro denomination, resulting in correspondingly higher market interest rates. As of January 4, 2019, the foreign revolving credit facilities were paid in full and closed . Letters of Credit, Bank Guarantees and Surety Bonds Certain subsidiaries primarily outside of the United States have credit arrangements with various commercial banks and other financial institutions for the issuance of letters of credit and bank guarantees in association with contracting activity. The aggregate value of all such letters of credit and bank guarantees opened outside of the U.S. Revolving Credit Facility as of March 31, 2019 and December 31, 2018 was $153.0 million and $175.9 million , respectively. The aggregate value of all such letters of credit and bank guarantees that are partially secured by the U.S. Revolving Credit Facility as of March 31, 2019 was $65.4 million . The aggregate value of the letters of credit provided by the U.S. Revolving Credit Facility in support of letters of credit outside of the United States was $43.6 million as of March 31, 2019 . We have posted surety bonds to support contractual obligations to customers relating to certain contracts. We utilize bonding facilities to support such obligations, but the issuance of bonds under those facilities is typically at the surety's discretion. These bonds generally indemnify customers should we fail to perform our obligations under the applicable contracts. We, and certain of our subsidiaries, have jointly executed general agreements of indemnity in favor of surety underwriters relating to surety bonds those underwriters issue in support of some of our contracting activity. As of March 31, 2019 , bonds issued and outstanding under these arrangements in support of contracts totaled approximately $203.3 million . The aggregate value of the letters of credit provided by the U.S. Revolving Credit facility in support of surety bonds was $22.7 million . Our ability to obtain and maintain sufficient capacity under our U.S. Revolving Credit Facility is essential to allow us to support the issuance of letters of credit, bank guarantees and surety bonds. Without sufficient capacity, our ability to support contract security requirements in the future will be diminished. SECOND LIEN TERM LOAN FACILITY On August 9, 2017 , we entered into a second lien credit agreement (the "Second Lien Credit Agreement") with an affiliate of AIP, governing the Second Lien Term Loan Facility. The Second Lien Term Loan Facility consisted of a second lien term loan in the principal amount of $175.9 million , all of which was borrowed on August 9, 2017 , and a delayed draw term loan facility in the principal amount of up to $20.0 million , which was drawn in a single draw on December 13, 2017. On May 4, 2018, we fully repaid the Second Lien Term Loan Facility using $212.6 million of the proceeds from the 2018 Rights Offering, plus accrued interest of $2.3 million . A loss on extinguishment of this debt of approximately $49.2 million was recognized in the second quarter of 2018 as a result of the remaining $32.5 million unamortized debt discount on the date of the repayment, $16.2 million of make-whole interest, and $0.5 million of fees associated with the extinguishment. See Note 24 for the Second Lien Term Loan Facility's interest expense.

LAST OUT TERM LOANS

LAST OUT TERM LOANS	3 Months Ended
	Mar. 31, 2019
Debt Disclosure [Abstract]
LAST OUT TERM LOANS	LAST OUT TERM LOANS The components of the Last Out Term Loans are as follows: (in thousands) March 31, 2019 December 31, 2018 Proceeds $ 40,000 $ 30,000 Discount and fees 5,111 5,111 Paid-in-kind interest 1,306 132 Principal 46,417 35,243 Unamortized discount and fees (4,004 ) (4,594 ) Net debt balance $ 42,413 $ 30,649 Last Out Term Loans are incurred under our Amended Credit Agreement and are pari passu with the U.S. Revolving Credit Facility except for certain payment subordination provisions. The Last Out Loans shall be subject to the same representations and warranties, covenants and events of default under the Amended Credit Agreement. In connection with Amendment No. 16, dated April 5, 2019, to the U.S. Revolving Credit Facility, as described above in Note 17 , the maturity date for all Last Out Term Loans was extended to December 31, 2020. As of March 31, 2019 and December 31, 2018, the Last Out Term Loans' net carrying values are presented as a current liability in our Condensed Consolidated Balance Sheets due to the uncertainty of our ability to refinance our U.S. Revolving Credit Facility as required by the amended Credit Agreement (as described above). Tranche A-1 We borrowed $30.0 million of net proceeds under Tranche A-1 of the Last Out Term Loans from B. Riley FBR, Inc. , a related party, in three draws in September and October 2018. On November 19, 2018, Tranche A-1 was assigned to Vintage , also a related party. The face principal amount of Tranche A-1 is $30.0 million , which excludes a $2.0 million up-front fee that was added to the principal balance on the first funding date, transaction expenses, paid-in-kind interest, and original issue discounts of 10.00% for each draw under Tranche A-1. As of March 31, 2019, Tranche A-1 was payable in full on July 1, 2020, the day after the maturity date of the U.S. Revolving Credit Facility; however, Amendment No. 16 extended the maturity date of each of the Last Out Term Loans to December 31, 2020. Tranche A-1 may be prepaid, subject to the subordination provisions, but not re-borrowed. As of March 31, 2019, Tranche A-1 bore interest at a rate per annum equal to (i) if designated a eurocurrency rate loan, the then-applicable U.S. LIBOR rate plus 14.00% , with 5.50% of such interest rate to be paid in cash and the remainder payable in kind by adding such accrued interest to the principal amount of Tranche A-1 and (ii) if designated a base rate loan, the then applicable prime rate set by the Administrative Agent plus 13.00% , with 4.50% of such interest rate to be paid in cash and the remaining 8.50% payable in kind by adding such accrued interest to the principal amount of Tranche A-1. The total effective interest rate of Tranche A-1 was 25.53% and 25.38% on March 31, 2019 and December 31, 2018, respectively. The effective rate of the Tranche A-1 may fluctuate over the life of the loan due to changes in LIBOR, the prime rates or any repayments. Interest expense associated with Tranche A-1 is detailed in Note 24 . After giving effect to Amendment No. 16 dated April 5, 2019, all outstanding Last Out Term Loans bear interest at a fixed rate per annum of 15.5% per annum. of which 7.5% is payable in cash and 8% is payable in kind. If we complete the 2019 Rights Offering (as defined below) within six months of the date of the Amendment (subject to a three-month extension in certain circumstances) (the "Prepayment Period"), the interest rate on all outstanding last out term loans under the Credit Agreement will be a fixed rate per annum of 12% payable in cash. If we are unable to complete the 2019 Rights Offering within the Prepayment Period, the interest rate on all outstanding last out term loans under the Credit Agreement will be a fixed rate per annum of 18.0% , of which 7.5% is payable in cash and 10.5% is payable in kind. Amendment No. 16 also permits us to prepay up to $86.0 million of the Tranche A-3 last out term loans using the proceeds of the 2019 Rights Offering. Per the Letter Agreement described in Note 19 , we agreed to a debt-for-equity exchange related to the Tranche A-1 Last Out Term Loan, that is conditioned upon, among other things, the closing of the 2019 Rights Offering and shareholder approval. If the conditions of the exchange are met, we would then expect to complete concurrently with the closing of the 2019 Rights Offering a debt-for-equity exchange with the holders of all outstanding Tranche A-1 Last Out Term Loans, pursuant to which we will exchange shares of our common stock at the Subscription Price of $0.30 per share for an equal aggregate principal amount of Tranche A-1 Last Out Term Loans. Tranche A-2 On March 19, 2019, we entered into an amendment and limited waiver ("Amendment No. 15") to our Amended Credit Agreement, which allowed us to borrow $10.0 million from B. Riley, a related party, under a Tranche A-2 of Last Out Term Loans, which were fully borrowed on March 20, 2019. As of March 31, 2019, Tranche A-2 was payable in full on July 1, 2020, the day after the maturity date of the U.S. Revolving Credit Facility; however, Amendment No. 16 extended the maturity date of each of the Last Out Term Loans to December 31, 2020. Tranche A-2 may be prepaid, subject to the subordination provisions, but not re-borrowed. As of March 31, 2019, Tranche A-2 bore interest at a rate per annum equal to the then applicable prime rate set by the Administrative Agent plus 13.00% , with 4.50% of such interest rate to be paid in cash and the remainder payable in kind by adding such accrued interest to the principal amount of Tranche A-2. The total effective interest rate of Tranche A-2 was 19.51% on March 31, 2019. Tranche A-3 - Subsequent Event Under Amendment No. 16 on April 5, 2019, we borrowed $150.0 million from B. Riley, a related party, under a Tranche A-3 of Last Out Term Loan. The proceeds from the Tranche A-3 Last Out Term Loan were used to pay the amounts due under the settlement agreements covering certain European Vølund loss projects as described in Note 5 , structuring fees, transaction expenses and original issue discount, with the remainder used for working capital and general corporate purposes. Tranche A-3 included an original issue discount of 3.2% of the gross cash proceeds. Interest rates and maturity of Tranche A-3 are described above. Tranche A-3 may be prepaid, subject to the subordination provisions and as described in Note 19 , but not re-borrowed. Per the Letter Agreement described in Note 19 , we may repay a portion of the outstanding A-3 tranche from proceeds raised from 2019 Rights Offering.

EQUITIZATION TRANSACTIONS - SUB

EQUITIZATION TRANSACTIONS - SUBSEQUENT EVENTS	3 Months Ended
	Mar. 31, 2019
Subsequent Events [Abstract]
EQUITIZATION TRANSACTIONS - SUBSEQUENT EVENTS	EQUITIZATION TRANSACTIONS - SUBSEQUENT EVENTS In connection with Amendment No. 16 to the Amended Credit Facility and the extension of the Tranche A-3 Last Out Term Loans, the Company, B. Riley and Vintage, each related parties, entered into the "Letter Agreement" on April 5, 2019, pursuant to which the parties agreed to use their reasonable best efforts to effect a series of equitization transactions for a portion of the Last Out Term Loans, subject to, among other things, shareholder approval. These transactions (the "Equitization Transactions") consist of: (i) a $50.0 million rights offering (the "2019 Rights Offering") allowing our shareholders to subscribe for shares of our common stock at a price of $0.30 per share (the "Subscription Price"), the proceeds of which will be used to prepay a portion of the Tranche A-3 Last Out Term Loans under the Amended Credit Agreement, (ii) the exchange of Tranche A-1 Last Out Term Loans under the Amended Credit Agreement for shares of our common stock at a price per share equal to the Subscription Price (the "Debt Exchange") and (iii) the issuance to B. Riley or its designees of an aggregate 16,667,667 warrants, each to purchase one share of our common stock at an exercise price of $0.01 per share (the "Warrant Issuance"). B. Riley FBR, Inc. has agreed to act as a backstop for the 2019 Rights Offering, by purchasing from us, at a price per share equal to the Subscription Price, all unsubscribed shares in the 2019 Rights Offering for cash or by exchanging an equal principal amount of outstanding Tranche A-2 or Tranche A-3 Last Out Term Loans that it holds. The issuance of any shares of our common stock (or other securities) in connection with the Equitization Transactions is subject to the receipt of all required shareholder approvals, and no shares of our common stock (or other securities) will be issued before such approvals have been obtained. Pursuant to the Letter Agreement, we have committed to seek shareholder approval of the following actions, among others, at our upcoming 2019 annual meeting of shareholders (the "Annual Meeting"): (1) an increase in the authorized number of shares of common stock to 500.0 million shares, (2) the Equitization Transactions, (3) a waiver of corporate opportunities with respect to directors nominated by B. Riley and Vintage to the fullest extent provided by law and (4) a reverse stock split to occur immediately after the closing of the Equitization Transactions. The parties to the Letter Agreement have also agreed to negotiate one or more agreements that will provide B. Riley and Vintage with certain governance rights, including (i) the right for B. Riley and Vintage to each nominate up to three individuals to serve on our board of directors (the "Board"), subject to certain continued lending and equity ownership thresholds and (ii) pre-emptive rights permitting B. Riley to participate in future issuances of our equity securities. The size of Board will remain at seven directors. In connection with the Letter Agreement, we also committed, subject to stockholder approval and in consultation with B. Riley and Vintage, to establish an equity pool of 16,666,667 shares of our common stock for issuance under our 2015 Long Term Incentive Plan with such terms (including any vesting period or performance targets), in such amounts and forms of awards as the Compensation Committee of the Board determines.

SECOND LIEN TERM LOAN FACILITY

SECOND LIEN TERM LOAN FACILITY	3 Months Ended
	Mar. 31, 2019
Debt Disclosure [Abstract]
SECOND LIEN TERM LOAN FACILITY	REVOLVING DEBT The components of our revolving debt are comprised of separate revolving credit facilities in the following locations: (in thousands) March 31, 2019 December 31, 2018 United States $ 175,300 $ 144,900 Foreign — 606 Total revolving debt $ 175,300 $ 145,506 U.S. Revolving Credit Facility On May 11, 2015, we entered into "the Amended Credit Agreement" with a syndicate of lenders in connection with our spin-off from The Babcock & Wilcox Company (now BWX Technologies, Inc. or "BWXT") which governs the U.S. Revolving Credit Facility and the Last Out Term Loans. Since June 2016, we have entered into a number of waivers and amendments ("the Amendments") to the Amended Credit Agreement, including those to avoid default. As of March 31, 2019, we were in compliance with the terms of the Amended Credit Agreement subject to the limited waivers that extended through April 5, 2019. On April 5, 2019, we entered into Amendment No. 16 to the Amended Credit Agreement. Amendment No. 16 provides (i) $150.0 million in additional commitments from B. Riley FBR, Inc., under Tranche A-3 of last out term loans described in Note 18 and (ii) an incremental uncommitted facility of up to $15.0 million , to be provided by B. Riley or an assignee. The U.S. Revolving Credit Facility as in effect at March 31, 2019 was scheduled to mature on June 30, 2020; however, Amendment No. 16 created a new event of default for failure to terminate the existing revolving credit facility on or prior to March 15, 2020. The U.S. Revolving Credit Facility provides for a senior secured revolving credit facility in an aggregate amount of up to $347.0 million , as amended and adjusted for completed asset sales. The proceeds from loans under the U.S. Revolving Credit Facility are available for working capital needs, capital expenditures, permitted acquisitions and other general corporate purposes, and the full amount is available to support the issuance of letters of credit, subject to the limits specified in the amendment described below. As of March 31, 2019, we were nearly fully drawn on the U.S. Revolving Credit Facility, but we had availability of approximately $35 million on April 8, 2019 after giving effect to the proceeds received under Tranche A-3 of the Last Out Term Loans borrowed on April 5, 2019, making the Vølund contract settlement payments described in Note 5 .and repaying a portion of our existing revolving credit loans. The Amended Credit Agreement and our obligations under certain hedging agreements and cash management agreements with our lenders and their affiliates continue to be (1) guaranteed by substantially all of our wholly owned domestic subsidiaries and certain of our foreign subsidiaries, but excluding our captive insurance subsidiary, and (2) secured by first-priority liens on certain assets owned by us and the guarantors. The U.S. Revolving Credit Facility requires interest payments on revolving loans on a periodic basis until maturity. We may prepay all loans at any time without premium or penalty (other than customary LIBOR breakage costs), subject to notice requirements, with the exception to the prepayment of certain Last Out Term Loans pursuant to the Equitization Transactions described in Note 19 ; such Last Out Term Loan prepayments are further limited by an aggregate principal amount of $86 million plus interest. The U.S. Revolving Credit Facility requires certain prepayments on any outstanding revolving loans after receipt of cash proceeds from certain asset sales or other events, subject to certain exceptions. Such prepayments may require us to reduce the commitments under the U.S. Revolving Credit Facility by a corresponding amount of such prepayments. After giving effect to the Amendments through March 31, 2019, revolving loans outstanding under the U.S. Revolving Credit Facility bear interest at our option at either (1) the LIBOR rate plus 5.0% per annum during 2018, 6.0% per annum during 2019 and 7.0% per annum during 2020, or (2) the Base Rate plus 4.0% per annum during 2018, 5.0% per annum during 2019, and 6.0% per annum during 2020. The Base Rate is the highest of the Federal Funds rate plus 0.5% , the one-month LIBOR rate plus 1.0% , or the administrative agent's prime rate. The components of our interest expense are detailed in Note 24 . A commitment fee of 1.0% per annum is charged on the unused portions of the U.S. Revolving Credit Facility. Additionally, an annual facility fee of $1.5 million was payable on the first business day of 2018 and 2019, and a pro-rated amount is payable on the first business day of 2020. A deferred fee of 2.5% was charged until October 9, 2018 and decreased to 1.5% effective October 10, 2018 due to achieving certain asset sales. A letter of credit fee of 2.5% per annum is charged with respect to the amount of each financial letter of credit outstanding, and a letter of credit fee of 1.5% per annum is charged with respect to the amount of each performance and commercial letter of credit outstanding. Letter of credit fees are payable on the tenth business day after the last business day of each fiscal quarter. Commencing with Amendment No. 16, a deferred ticking fee of 1% will be charged if certain actions are not undertaken to refinance the facility by December 15, 2019, in addition to an incremental 1% per month after December 15, 2019. A contingent consent fee of 4% will be charged with respect to Amendment No. 16 if certain actions are not undertaken to refinance the facility by December 15, 2019. The Amended Credit Agreement includes financial covenants that are tested on a quarterly basis, based on the rolling four-quarter period that ends on the last day of each fiscal quarter. These include a maximum permitted senior debt leverage ratio and a minimum consolidated interest coverage ratio, each as defined in the Amended Credit Agreement. Compliance with these ratios was waived with respect to the quarter ended December 31, 2018 and new ratios were established in Amendment No. 16 commencing with respect to the quarter ended March 31, 2019. Amendment No. 16 also, among other items, (1) modifies the definition of EBITDA in the Credit Agreement to, among other things, include addbacks related to losses in connection with the Vølund projects, fees and expenses related to the Amendment and prior waivers to the Credit Agreement and fees associated with Vølund project related settlement agreements, (2) reduces to $30 million the minimum liquidity we are required to maintain at the time of any credit extension request and at the last business day of any calendar month, (3) allows for the issuance of up to $20.0 million of new letters of credit with respect to any future Vølund project, (4) changes the consolidated interest coverage and senior leverage coverage ratios, (5) decreases the relief period borrowing sublimit, (6) changes or removes certain contract completion milestones that we had been required to meet in connection with one renewable energy project, (7) permits letters of credit to expire one year after the maturity of the revolving credit facility, (8) resets the loss basket for certain Vølund contracts to $10.0 million , (9) creates a new event of default for failure to terminate the existing revolving credit facility on or prior to March 15, 2020, (10) establishes a deferred ticking fee of 1% if certain actions are not undertaken to refinance the facility by December 15, 2019, in addition to an incremental 1% per month after December 15, 2019 and (11) provides for a contingent consent fee of 4% if certain actions are not undertaken to refinance the facility by December 15, 2019. Effective beginning April 5, 2019 with Amendment No. 16, the maximum permitted senior debt leverage ratio, as defined in the Amended Credit Agreement, is: • 9.75 :1.00 for the quarter ending March 31, 2019 • 9.25 :1.00 for the quarter ending June 30, 2019 • 6.75 :1.00 for the quarter ending September 30, 2019 • 6.00 :1.00 for the quarter ending December 31, 2019 • 3.50 :1.00 for the quarter ending March 31, 2020 • 3.25 :1.00 for the quarter ending June 30, 2020 provided that for the purpose of calculating the senior debt leverage ratio for the quarter ended March 31, 2019, the senior leverage ratio is calculated by giving effect of the prepayment of the revolving loans under the U.S. Revolving Credit Facility on April 8, 2019 as if such prepayment was made on March 31, 2019. Effective beginning April 5, 2019 with Amendment No. 16, the minimum consolidated interest coverage ratio, as defined in the Amended Credit Agreement, is: • 0.75 :1.00 for the quarter ending March 31, 2019 • 0.90 :1.00 for the quarter ending June 30, 2019 • 1.10 :1.00 for the quarter ending September 30, 2019 • 1.10 :1.00 for the quarter ending December 31, 2019 • 1.50 :1.00 for the quarter ending March 31, 2020 • 1.75 :1.00 for the quarter ending June 30, 2020 At March 31, 2019 , borrowings under the U.S. Revolving Credit Facility consisted of $175.3 million at a weighted average interest rate of 8.62% . Usage under the U.S. Revolving Credit Facility consisted of $175.3 million of borrowings, $28.9 million of financial letters of credit and $139.9 million of performance letters of credit. At March 31, 2019 , we had approximately $2.8 million available for borrowings or to meet letter of credit requirements primarily based on our overall facility size, our borrowing sublimit, and the limited waivers described in Note 19 . Foreign Revolving Credit Facilities Outside of the United States, we had revolving credit facilities in Turkey that were used to provide working capital to local operations. At December 31, 2018, we had aggregate borrowings under these facilities of $0.6 million whose weighted average interest rate was 40.0% . In 2018, our banking counterparties in Turkey began requiring the conversion of these revolving credit facilities to Turkish lira denomination from euro denomination, resulting in correspondingly higher market interest rates. As of January 4, 2019, the foreign revolving credit facilities were paid in full and closed . Letters of Credit, Bank Guarantees and Surety Bonds Certain subsidiaries primarily outside of the United States have credit arrangements with various commercial banks and other financial institutions for the issuance of letters of credit and bank guarantees in association with contracting activity. The aggregate value of all such letters of credit and bank guarantees opened outside of the U.S. Revolving Credit Facility as of March 31, 2019 and December 31, 2018 was $153.0 million and $175.9 million , respectively. The aggregate value of all such letters of credit and bank guarantees that are partially secured by the U.S. Revolving Credit Facility as of March 31, 2019 was $65.4 million . The aggregate value of the letters of credit provided by the U.S. Revolving Credit Facility in support of letters of credit outside of the United States was $43.6 million as of March 31, 2019 . We have posted surety bonds to support contractual obligations to customers relating to certain contracts. We utilize bonding facilities to support such obligations, but the issuance of bonds under those facilities is typically at the surety's discretion. These bonds generally indemnify customers should we fail to perform our obligations under the applicable contracts. We, and certain of our subsidiaries, have jointly executed general agreements of indemnity in favor of surety underwriters relating to surety bonds those underwriters issue in support of some of our contracting activity. As of March 31, 2019 , bonds issued and outstanding under these arrangements in support of contracts totaled approximately $203.3 million . The aggregate value of the letters of credit provided by the U.S. Revolving Credit facility in support of surety bonds was $22.7 million . Our ability to obtain and maintain sufficient capacity under our U.S. Revolving Credit Facility is essential to allow us to support the issuance of letters of credit, bank guarantees and surety bonds. Without sufficient capacity, our ability to support contract security requirements in the future will be diminished. SECOND LIEN TERM LOAN FACILITY On August 9, 2017 , we entered into a second lien credit agreement (the "Second Lien Credit Agreement") with an affiliate of AIP, governing the Second Lien Term Loan Facility. The Second Lien Term Loan Facility consisted of a second lien term loan in the principal amount of $175.9 million , all of which was borrowed on August 9, 2017 , and a delayed draw term loan facility in the principal amount of up to $20.0 million , which was drawn in a single draw on December 13, 2017. On May 4, 2018, we fully repaid the Second Lien Term Loan Facility using $212.6 million of the proceeds from the 2018 Rights Offering, plus accrued interest of $2.3 million . A loss on extinguishment of this debt of approximately $49.2 million was recognized in the second quarter of 2018 as a result of the remaining $32.5 million unamortized debt discount on the date of the repayment, $16.2 million of make-whole interest, and $0.5 million of fees associated with the extinguishment. See Note 24 for the Second Lien Term Loan Facility's interest expense.

2018 RIGHTS OFFERING

2018 RIGHTS OFFERING	3 Months Ended
	Mar. 31, 2019
Warrants and Rights Note Disclosure [Abstract]
2018 RIGHTS OFFERING	2018 RIGHTS OFFERING On March 19, 2018, we distributed to holders of our common stock one nontransferable subscription right to purchase 1.4 common shares for each common share held as of 5:00 p.m., New York City time, on March 15, 2018 at a price of $3.00 per common share. On April 10, 2018, we extended the expiration date and amended certain other terms regarding the 2018 Rights Offering. As amended, each right entitled holders to purchase 2.8 common shares at a price of $2.00 per share. The 2018 Rights Offering expired at 5:00 p.m., New York City time, on April 30, 2018. The Company did not issue fractional rights or pay cash in lieu of fractional rights. The 2018 Rights Offering did not include an oversubscription privilege. The 2018 Rights Offering concluded on April 30, 2018, resulting in the issuance of 124.3 million common shares on April 30, 2018. Gross proceeds from the 2018 Rights Offering were $248.4 million . Of the proceeds received, $214.9 million was used to fully repay the Second Lien Credit Agreement, including $2.3 million of accrued interest, and the remainder was used for working capital purposes. Direct costs of the 2018 Rights Offering totaled $3.3 million .

CONTINGENCIES

CONTINGENCIES	3 Months Ended
	Mar. 31, 2019
Commitments and Contingencies Disclosure [Abstract]
CONTINGENCIES	CONTINGENCIES Stockholder Litigation On March 3, 2017 and March 13, 2017, the Company and certain of its former officers were named as defendants in two separate but largely identical complaints alleging violations of the federal securities laws. The two complaints were brought on behalf of a class of investors who purchased the Company's common stock between July 1, 2015 and February 28, 2017 and were filed in the United States District Court for the Western District of North Carolina (collectively, the "Stockholder Litigation"). During the second quarter of 2017, the Stockholder Litigation was consolidated into a single action and a lead plaintiff was selected by the Court. Through subsequent amendments, the putative class period was expanded to include investors who purchased shares between June 17, 2015 and August 9, 2017. We filed a motion to dismiss in late 2017. The court denied the motion in early 2018 and the case is presently in discovery, subject to the tentative settlements described below. The plaintiff in the Stockholder Litigation alleges fraud, misrepresentation and a course of conduct relating to certain projects undertaken by the Vølund & Other Renewable segment, which, according to the plaintiff, had the effect of artificially inflating the price of the Company's common stock. The plaintiff further alleges that stockholders were harmed when the Company later disclosed that it would incur losses on these projects. The plaintiff seeks an unspecified amount of damages. On February 16, 2018 and February 22, 2018, the Company and certain of its present and former officers and directors were named as defendants in three separate but substantially similar derivative lawsuits filed in the United States District Court for the District of Delaware (the "Federal Court Derivative Litigation"). On April 23, 2018, the United States District Court for the District of Delaware entered an order consolidating the related derivative actions and designating co-lead and co-liaison counsel. On June 1, 2018, plaintiffs filed a consolidated derivative complaint. Plaintiffs assert a variety of claims against the defendants including alleged violations of the federal securities laws, waste, breach of fiduciary duties and unjust enrichment. Plaintiffs, who all purport to be current shareholders of the Company's common stock, are suing on behalf of the Company to recover costs and an unspecified amount of damages, and force implementation of corporate governance changes. On June 28, 2018, the Federal Court Derivative Litigation was transferred to the United States District Court for the Western District of North Carolina, where the Stockholder Litigation is pending. The parties filed a motion to stay the Federal Court Derivative Litigation, which was granted by the Court on August 13, 2018. On November 14, 2018, the Company and certain of its present and former officers and directors were named as defendants in an additional shareholder derivative lawsuit filed in the North Carolina Superior Court (the "State Court Derivative Litigation"). The complaint in that action covers the same period and contains allegations substantially similar to those asserted in the pending Federal Court Derivative Litigation and Stockholder Litigation. On April 16, 2019, following mediation, the Company reached a tentative settlement agreement regarding the Shareholder Litigation matter, which agreement is subject to negotiation of definitive settlement documentation and court approval, including the payment of $19.5 million to plaintiffs by the Company's insurance carriers. The $19.5 million payment by the Company is expected to be recovered in full from our insurance coverage. Within our Condensed Consolidated Balance Sheets as of March 31, 2019, the $19.5 million liability is recorded in "other accrued liabilities" and the $19.5 million insurance receivable is recorded in "accounts receivable - other". The parties to the Federal Court and State Court Derivative Litigations held a mediation on April 17, 2019 in an attempt to resolve these pending matters. At this mediation, the parties reached an agreement in principle with plaintiffs’ counsel to resolve these cases based on certain corporate governance changes that the Company has already implemented or is willing to implement in the future and payment by certain of the Company’s insurance carriers of $1 million in attorneys’ fees and expenses to plaintiffs’ counsel. There is no monetary payment associated with this settlement. We believe the allegations in the Stockholder Litigation and the Federal Court Derivative Litigation and State Court Derivative Litigation were without merit, and that the respective outcomes of the Stockholder Litigation and the Derivative Litigation will not have a material adverse impact on our consolidated financial condition, results of operations or cash flows, net of any insurance coverage. Other Due to the nature of our business, we are, from time to time, involved in routine litigation or subject to disputes or claims related to our business activities, including, among other things: performance or warranty-related matters under our customer and supplier contracts and other business arrangements; and workers' compensation, premises liability and other claims. Based on our prior experience, we do not expect that any of these other litigation proceedings, disputes and claims will have a material adverse effect on our consolidated financial condition, results of operations or cash flows.

FAIR VALUE MEASUREMENTS

FAIR VALUE MEASUREMENTS	3 Months Ended
	Mar. 31, 2019
Fair Value Disclosures [Abstract]
FAIR VALUE MEASUREMENTS	FAIR VALUE MEASUREMENTS The following tables summarize our financial assets and liabilities carried at fair value, all of which were valued from readily available prices or using inputs based upon quoted prices for similar instruments in active markets (known as "Level 1" and "Level 2" inputs, respectively, in the fair value hierarchy established by the FASB Topic, Fair Value Measurements and Disclosures ). (in thousands) Available-for-sale securities March 31, 2019 Level 1 Level 2 Level 3 Corporate notes and bonds $ 16,838 $ 16,838 $ — $ — Mutual funds 1,283 — 1,283 — United States Government and agency securities 2,383 2,383 — — Total fair value of available-for-sale securities $ 20,504 $ 19,221 $ 1,283 $ — (in thousands) Available-for-sale securities December 31, 2018 Level 1 Level 2 Level 3 Corporate notes and bonds $ 13,028 $ 13,028 $ — Mutual funds 1,283 — 1,283 — United States Government and agency securities 1,437 1,437 — — Total fair value of available-for-sale securities $ 15,748 $ 14,465 $ 1,283 $ — (in thousands) Derivatives March 31, 2019 December 31, 2018 Forward contracts to purchase/sell foreign currencies $ — $ 546 Available-For-Sale Securities Our investments in available-for-sale securities are presented in "other assets" on our Condensed Consolidated Balance Sheets with contractual maturities ranging from 0 - 6 years . Derivatives Derivative assets and liabilities usually consist of FX forward contracts. Where applicable, the value of these derivative assets and liabilities is computed by discounting the projected future cash flow amounts to present value using market-based observable inputs, including FX forward and spot rates, interest rates and counterparty performance risk adjustments. As of March 31, 2019, we do not hold any derivative assets or liabilities. All such contracts were sold during the first quarter of 2019. Other Financial Instruments We used the following methods and assumptions in estimating our fair value disclosures for our other financial instruments: • Cash and cash equivalents and restricted cash and cash equivalents . The carrying amounts that we have reported in the accompanying Condensed Consolidated Balance Sheets for cash and cash equivalents and restricted cash and cash equivalents approximate their fair values due to their highly liquid nature. • Revolving debt and Last Out Term Loans . We base the fair values of debt instruments on quoted market prices. Where quoted prices are not available, we base the fair values on Level 2 inputs such as the present value of future cash flows discounted at estimated borrowing rates for similar debt instruments or on estimated prices based on current yields for debt issues of similar quality and terms. The fair value of our debt instruments approximated their carrying value at March 31, 2019 and December 31, 2018 . Non-Recurring Fair Value Measurements The measurement of the net actuarial gain or loss associated with our pension and other postretirement plans was determined using unobservable inputs (see Note 16 ). These inputs included the estimated discount rate, expected return on plan assets and other actuarial inputs associated with the plan participants. Property, plant and equipment amounts are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset, or asset group, may not be recoverable. An impairment loss would be recognized when the carrying amount of an asset exceeds the estimated undiscounted future cash flows expected to result from the use of the asset and its eventual disposition. The amount of the impairment loss to be recorded is calculated by the excess of the asset carrying value over its fair value. Fair value is generally determined based on an income approach using a discounted cash flow analysis or based on the price that the Company expects to receive upon the sale of these assets. Both of those approaches utilize unobservable inputs (see Note 6 and Note 13 ).

SUPPLEMENTAL CASH FLOW AND INTE

SUPPLEMENTAL CASH FLOW AND INTEREST INFORMATION	3 Months Ended
	Mar. 31, 2019
Supplemental Cash Flow Information [Abstract]
SUPPLEMENTAL CASH FLOW AND INTEREST INFORMATION	SUPPLEMENTAL CASH FLOW AND INTEREST INFORMATION In addition to non-cash items described in the Condensed Consolidated Statements of Cash Flows, we also recognized non-cash changes in our Condensed Consolidated Balance Sheets related to interest expense as described below: Three months ended March 31, (in thousands) 2019 2018 Accrued capital expenditures in accounts payable $ 24 $ 300 Accreted interest expense on our Second Lien Term Loan Facility $ — $ 2,369 We recognized the following cash activity in our Condensed Consolidated Financial Statements: Three months ended March 31, (in thousands) 2019 2018 Income tax payments (refunds), net $ (78 ) $ 1,822 Interest payments on our U.S. Revolving Credit Facility 2,403 1,687 Interest payments on our Last Out Term Loans 540 — Interest payments on our Second Lien Term Loan Facility — 5,303 Interest expense in our Condensed Consolidated Financial Statements consisted of the following components: Three months ended March 31, (in thousands) 2019 2018 Components associated with borrowings from: U.S. Revolving Credit Facility $ 3,550 $ 2,345 Second Lien Term Loan Facility — 5,269 Last Out Term Loans - cash interest 513 — Last Out Term Loans - paid-in-kind interest 1,060 — Foreign revolving credit facilities — 134 5,123 7,748 Components associated with amortization or accretion of: U.S. Revolving Credit Facility - deferred financing fees and commitment fees 5,270 3,201 Second Lien Term Loan Facility - discount and financing fees — 2,369 Last Out Term Loans - discount and financing fees 590 — 5,860 5,570 Other interest expense 151 134 Total interest expense $ 11,134 $ 13,452 The following table provides a reconciliation of cash, cash equivalents and restricted cash reporting within the Condensed Consolidated Balance Sheets that sum to the total of the same amounts in the Condensed Consolidated Statements of Cash Flows: (in thousands) March 31, 2019 December 31, 2018 March 31, 2018 December 31, 2017 Held by foreign entities $ 26,746 $ 35,522 $ 23,077 $ 42,490 Held by United States entities 16,781 7,692 76 1,227 Cash and cash equivalents of continuing operations 43,527 43,214 23,153 43,717 Reinsurance reserve requirements 2,841 11,768 22,445 21,061 Restricted foreign accounts 4,118 5,297 6,975 4,919 Sale proceeds held in escrow — — 20,266 — Restricted cash and cash equivalents 6,959 17,065 49,686 25,980 Total cash, cash equivalents and restricted cash of continuing operations shown in the Condensed Consolidated Statements of Cash Flows $ 50,486 $ 60,279 $ 72,839 $ 69,697 Total cash and cash equivalents of discontinued operations $ — $ — $ 14,229 $ 12,950 Our U.S. Revolving Credit Facility described in Note 17 allows for nearly immediate borrowing of available capacity to fund cash requirements in the normal course of business, meaning that the minimum United States cash on hand is maintained to minimize borrowing costs.

RELATED PARTY TRANSACTIONS

RELATED PARTY TRANSACTIONS	3 Months Ended
	Mar. 31, 2019
Related Party Transactions [Abstract]
RELATED PARTY TRANSACTIONS	RELATED PARTY TRANSACTIONS Transactions with B. Riley and its Affiliates B. Riley Financial, Inc. and its affiliates became the beneficial owner of greater than five percent of our common stock in May 2018, upon completion of the 2018 Rights Offering described in Note 21 . As of March 31, 2019, B. Riley owns 6.46% of our outstanding common stock. We entered an agreement with BPRI Executive Consulting, LLC on November 19, 2018 for the services of Mr. Kenny Young, to serve as our Chief Executive Officer until November 30, 2020, unless terminated by either party with thirty days written notice. Under this agreement, payments are $0.75 million per annum, paid monthly. Subject to the achievement of certain performance objectives as determined by the Compensation Committee of the Board, a bonus or bonuses (the amount and timing of which have yet to be determined) may also be earned and payable to BPRI Executive Consulting, LLC. In December 2018, we granted a total of 8.4 million stock appreciation rights to BRPI Executive Consulting, LLC, ("Non-employee SARs"). The Non-employee SARs expire ten years after the grant date and vest 100% upon completion after the required years of service. Upon vesting, the Non-employee SARs may be exercised within ten business days following the end of any calendar quarter during which the volume weighted average share price is greater than the per share price goal of $2.25 for 5.1 million of the Non-employee SARS and $2.5 0 for the remaining 3.3 million of Non-employee SARS. Upon exercise of the Non-employee SARs, the holder receives a cash-settled payment equal to the number of Non-employee SARs that are being exercised multiplied by the difference between the stock price on the date of exercise minus the Non-employee SARs base price of $2.00 per stock appreciation right. Non-employee SARs are issued under a Non-employee SARs agreement. Tranche A-1 of the Last Out Term Loans described in Note 18 was a related party transaction with B. Riley FBR, Inc. until November 19, 2018, when it was assigned to Vintage , also a related party. Tranche A-2 of the Last Out Term Loans provided proceeds of $10 million on March 20, 2019, described in Note 18 , was also a related party transaction with B. Riley FBR, Inc. Under Tranche A-3 of the Last Out Term Loans, we borrowed $150 million from B. Riley FBR, Inc., a related party, on April 5, 2019, which included an original issuance discount and fees as described in Note 18 . See Note 19 for additional contemplated equitization transactions resulting from Tranche A-3 Last Out Term Loans. Transactions with Vintage Capital Management, LLC As of March 31, 2019, Vintage owned 14.85% of our outstanding common stock. On April 10, 2018, the Company and Vintage entered into an equity commitment agreement (the "Equity Commitment Agreement"), which Equity Commitment Agreement amended and restated in its entirety the prior letter agreement, dated as of March 1, 2018, between the Company and Vintage, pursuant to which Vintage agreed to backstop the 2018 Rights Offering for the purpose of providing at least $245 million of new capital. The Last Out Term Loan described in Note 18 also became a related party transaction with Vintage beginning November 19, 2018, after it was assigned to Vintage from B. Riley FBR, Inc. , also a related party. See Note 19 for additional contemplated equitization transactions resulting from Tranche A-3 Last Out Term Loans.

NEW ACCOUNTING STANDARDS

NEW ACCOUNTING STANDARDS	3 Months Ended
	Mar. 31, 2019
Accounting Changes and Error Corrections [Abstract]
NEW ACCOUNTING STANDARDS	NEW ACCOUNTING STANDARDS New accounting standards adopted are summarized as follows: In February 2016, the FASB issued ASU 2016-02, Leases (Topic 842) . We adopted the new standard on January 1, 2019 and used the effective date as our date of initial application and continued applying the guidance under the lease standard in effect at that time to the comparative periods presented in the Condensed Consolidated Financial Statements. We recorded an immaterial cumulative-effect adjustment to the opening balance of retained earnings on the date of adoption. We also elected the “package of practical expedients”, which permits us not to reassess under the new standard our prior conclusions about lease identification, lease classification and initial direct costs. However, we are not electing to adopt the hindsight practical expedient and are therefore maintaining the lease terms we previously determined under ASC 840. We have implemented new leasing software and established new processes and internal controls designed to comply with the new lease accounting and disclosure requirements set by the new standard. The impact of the standard adoption increased our assets and liabilities within our Condensed Consolidated Balance Sheets by approximately $15 million but did not materially impact our results of operations or cash flows. In February 2018, the FASB issued ASU 2018-02, Income Statement - Reporting Comprehensive Income (Topic 220): Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income . The new guidance provides companies with the option to reclassify stranded tax effects resulting from the Tax Act from accumulated other comprehensive income to retained earnings. Existing guidance requiring the effect of a change in tax law or rates to be recorded in continuing operations is not affected. This standard is effective for all public business entities for fiscal years beginning after December 15, 2018, and any interim periods within those fiscal years. We did not elect to reclassify the income tax effects of the Tax Act from accumulated other comprehensive income to retained earnings. New accounting standards not yet adopted that could affect our Condensed Consolidated Financial Statements in the future are summarized as follows: In August 2018, the FASB issued ASU 2018-15, Intangibles - Goodwill and Other - Internal-Use Software (Subtopic 350-40): Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That Is a Service Contract . The new guidance requires companies acting as the customer in a cloud hosting service arrangement to follow the requirements of ASC 350-40 for capitalizing implementation costs for internal-use software and requires the amortization of these costs over the life of the related service contract. This standard is effective for all public business entities for fiscal years beginning after December 15, 2019, and any interim periods within those fiscal years. Early adoption is permitted in any interim period. We are currently evaluating the impact of this standard on our financial statements and whether we will elect to adopt this standard early.

NEW ACCOUNTING STANDARDS (Polic

NEW ACCOUNTING STANDARDS (Policies)	3 Months Ended
	Mar. 31, 2019
Accounting Changes and Error Corrections [Abstract]
New Accounting Standards	New accounting standards adopted are summarized as follows: In February 2016, the FASB issued ASU 2016-02, Leases (Topic 842) . We adopted the new standard on January 1, 2019 and used the effective date as our date of initial application and continued applying the guidance under the lease standard in effect at that time to the comparative periods presented in the Condensed Consolidated Financial Statements. We recorded an immaterial cumulative-effect adjustment to the opening balance of retained earnings on the date of adoption. We also elected the “package of practical expedients”, which permits us not to reassess under the new standard our prior conclusions about lease identification, lease classification and initial direct costs. However, we are not electing to adopt the hindsight practical expedient and are therefore maintaining the lease terms we previously determined under ASC 840. We have implemented new leasing software and established new processes and internal controls designed to comply with the new lease accounting and disclosure requirements set by the new standard. The impact of the standard adoption increased our assets and liabilities within our Condensed Consolidated Balance Sheets by approximately $15 million but did not materially impact our results of operations or cash flows. In February 2018, the FASB issued ASU 2018-02, Income Statement - Reporting Comprehensive Income (Topic 220): Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income . The new guidance provides companies with the option to reclassify stranded tax effects resulting from the Tax Act from accumulated other comprehensive income to retained earnings. Existing guidance requiring the effect of a change in tax law or rates to be recorded in continuing operations is not affected. This standard is effective for all public business entities for fiscal years beginning after December 15, 2018, and any interim periods within those fiscal years. We did not elect to reclassify the income tax effects of the Tax Act from accumulated other comprehensive income to retained earnings. New accounting standards not yet adopted that could affect our Condensed Consolidated Financial Statements in the future are summarized as follows: In August 2018, the FASB issued ASU 2018-15, Intangibles - Goodwill and Other - Internal-Use Software (Subtopic 350-40): Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That Is a Service Contract . The new guidance requires companies acting as the customer in a cloud hosting service arrangement to follow the requirements of ASC 350-40 for capitalizing implementation costs for internal-use software and requires the amortization of these costs over the life of the related service contract. This standard is effective for all public business entities for fiscal years beginning after December 15, 2019, and any interim periods within those fiscal years. Early adoption is permitted in any interim period. We are currently evaluating the impact of this standard on our financial statements and whether we will elect to adopt this standard early.

EARNINGS PER SHARE (Tables)

EARNINGS PER SHARE (Tables)	3 Months Ended
	Mar. 31, 2019
Earnings Per Share [Abstract]
Computation of Basic and Diluted Earnings Per Share	The following table sets forth the computation of basic and diluted earnings per share of our common stock, net of noncontrolling interest: Three months ended March 31, (in thousands, except per share amounts) 2019 2018 Loss from continuing operations $ (49,765 ) $ (116,937 ) Loss from discontinued operations, net of tax — (3,496 ) Net loss attributable to shareholders $ (49,765 ) $ (120,433 ) Weighted average shares used to calculate basic and diluted earnings per share 168,812 44,187 Basic and diluted loss per share - continuing operations $ (0.29 ) $ (2.65 ) Basic and diluted loss per share - discontinued operations — (0.08 ) Basic and diluted loss per share $ (0.29 ) $ (2.73 )

DISCONTINUED OPERATIONS (Tables

DISCONTINUED OPERATIONS (Tables)	3 Months Ended
	Mar. 31, 2019
Discontinued Operations and Disposal Groups [Abstract]
Schedule of Discontinued Operations	The following table presents selected financial information regarding the discontinued operations of our former MEGTEC and Universal businesses included in the Condensed Consolidated Statements of Operations: Three months ended March 31, (in thousands) 2018 Revenue $ 58,181 Cost of operations 44,668 Selling, general and administrative 9,427 Research and development 365 Operating income 3,721 Income tax expense 7,118 Net loss (3,496 ) The significant components of discontinued operations of our former MEGTEC and Universal businesses included in our Condensed Consolidated Statements of Cash Flows are as follows: Three months ended March 31, (in thousands) 2018 Depreciation and amortization $ 2,089 Provision for deferred income taxes 3,033 Purchase of property, plant equipment (65 )

SEGMENT REPORTING (Tables)

SEGMENT REPORTING (Tables)	3 Months Ended
	Mar. 31, 2019
Segment Reporting [Abstract]
Schedule of Segment Reporting Information, by Segment	An analysis of our operations by segment is as follows: Three months ended March 31, (in thousands) 2019 2018 Revenues: Babcock & Wilcox segment Retrofits $ 30,674 $ 61,983 New build utility and environmental 68,907 12,847 Aftermarket parts and field engineering services 63,087 73,073 Industrial steam generation 47,010 14,906 Eliminations (21,120 ) (3,683 ) 188,558 159,126 Vølund & Other Renewable segment Renewable new build and services 29,533 44,711 Operations and maintenance services 560 15,247 Eliminations (561 ) — 29,532 59,958 SPIG segment New build cooling systems 21,006 29,045 Aftermarket cooling system services 8,171 7,699 Eliminations (275 ) — 28,902 36,744 Eliminations (15,056 ) (2,652 ) $ 231,936 $ 253,176 Three months ended March 31, (in thousands) 2019 2018 Gross profit (loss) (1) : Babcock & Wilcox segment $ 31,106 $ 30,863 Vølund & Other Renewable segment (2,856 ) (50,449 ) SPIG segment 3,676 (2,751 ) Intangible amortization expense included in cost of operations (1,057 ) (1,832 ) 30,869 (24,169 ) Selling, general and administrative ("SG&A") expenses (42,269 ) (59,172 ) Advisory fees and settlement costs (13,610 ) (3,089 ) Intangible amortization expense included in SG&A (130 ) (237 ) Restructuring activities and spin-off transaction costs (6,079 ) (6,862 ) Research and development costs (743 ) (1,142 ) Equity in income and impairment of investees — (11,757 ) Operating loss $ (31,962 ) $ (106,428 ) (1) Intangible amortization is not allocated to the segments' gross profit, but depreciation is allocated to the segments' gross profit. Three months ended March 31, (in thousands) 2019 2018 Adjusted EBITDA Babcock & Wilcox segment (1) $ 8,964 $ 4,177 Vølund & Other Renewable segment (8,863 ) (61,754 ) SPIG segment 659 (7,310 ) Corporate (2) (4,984 ) (11,614 ) Research and development costs (743 ) (1,142 ) (4,967 ) (77,643 ) Restructuring activities and spin-off transaction costs (6,079 ) (6,862 ) Financial advisory services (3,958 ) (3,089 ) Settlement cost to exit Vølund contract (3) (6,575 ) — Advisory fees for settlement costs and liquidity planning (3,077 ) — Impairment of equity method investment in TBWES — (18,362 ) Gain on sale of equity method investment in BWBC — 6,509 Depreciation & amortization (7,306 ) (6,981 ) Operating loss (31,962 ) (106,428 ) Interest expense, net (10,575 ) (13,299 ) Net pension benefit before MTM 3,428 6,997 MTM loss from benefit plans (398 ) — Foreign exchange (10,153 ) 2,457 Other – net 420 397 Loss before income tax expense (49,240 ) (109,876 ) Income tax expense 626 6,963 Loss from continuing operations (49,866 ) (116,839 ) Loss from discontinued operations, net of tax — (3,496 ) Net loss (49,866 ) (120,335 ) Net income (loss) attributable to noncontrolling interest 101 (98 ) Net loss attributable to stockholders $ (49,765 ) $ (120,433 ) (1) The Babcock & Wilcox segment adjusted EBITDA for the three months ended March 31, 2018 excludes $7.0 million of net benefit from pension and other postretirement benefit plans, excluding MTM adjustments, that were previously included in the segment results. Beginning in 2019, Net pension benefits are no longer allocated to the segments, and prior periods have been adjusted to be presented on a comparable basis. (2) Allocations are excluded from discontinued operations. Accordingly, allocations previously absorbed by the MEGTEC and Universal businesses in the SPIG segment have been included with other unallocated costs in Corporate, and total $2.9 million in the three months ended March 31, 2018 . (3) In March 2019, we entered into a settlement in connection with an additional European waste-to-energy EPC contract, for which notice to proceed was not given and the contract was not started. The settlement eliminates our obligations and our risk related to acting as the prime EPC should the project move forward.

REVENUE RECOGNITION AND CONTR_2

REVENUE RECOGNITION AND CONTRACTS (Tables)	3 Months Ended
	Mar. 31, 2019
Revenue from Contract with Customer [Abstract]
Schedule of Contracts in Progress and Advance Billings on Contracts	The following represents the components of our contracts in progress and advance billings on contracts included in our Condensed Consolidated Balance Sheets: (in thousands) March 31, 2019 December 31, 2018 $ Change % Change Contract assets - included in contracts in progress: Costs incurred less costs of revenue recognized $ 45,394 $ 49,910 $ (4,516 ) (9 )% Revenues recognized less billings to customers 91,013 94,817 (3,804 ) (4 )% Contracts in progress $ 136,407 $ 144,727 $ (8,320 ) (6 )% Contract liabilities - included in advance billings on contracts: Billings to customers less revenues recognized $ 152,416 $ 140,933 $ 11,483 8 % Costs of revenue recognized less cost incurred 2,863 8,434 (5,571 ) (66 )% Advance billings on contracts $ 155,279 $ 149,367 $ 5,912 4 % Net contract balance $ (18,872 ) $ (4,640 ) $ (14,232 ) 307 % Accrued contract losses $ 25,890 $ 61,651 $ (35,761 ) (58 )%
Schedule of Recognized Changes in Estimated Gross Profit	In the three months ended March 31, 2019 and 2018 , we recognized changes in estimated gross profit related to long-term contracts accounted for on the percentage-of-completion basis, which are summarized as follows: Three months ended March 31, (in thousands) 2019 2018 Increases in gross profits for changes in estimates for over time contracts $ 9,525 $ 5,337 Decreases in gross profits for changes in estimates for over time contracts (9,396 ) (54,865 ) Net changes in gross profits for changes in estimates for over time contracts $ 129 $ (49,528 )

RESTRUCTURING ACTIVITIES AND _2

RESTRUCTURING ACTIVITIES AND SPIN-OFF TRANSACTION COSTS (Tables)	3 Months Ended
	Mar. 31, 2019
Restructuring and Related Activities [Abstract]
Activity Related to the Restructuring Liabilities	Activity related to the restructuring liabilities is as follows: Three months ended March 31, (in thousands) 2019 2018 Balance at beginning of period $ 7,359 $ 2,244 Restructuring expense 6,079 5,888 Payments (3,242 ) (2,218 ) Balance at March 31 $ 10,196 $ 5,914 he following tables summarize the restructuring activity and spin-off costs incurred by segment. (in thousands) Three months ended March 31, 2019 Total severance and related costs Babcock & Wilcox segment $ 3,947 Vølund & Other Renewable segment 578 SPIG segment 144 Corporate 1,410 $ 6,079 (in thousands) Three months ended March 31, 2018 Severance and related costs Exit costs Spin-off transaction costs Total Babcock & Wilcox segment $ 1,093 $ 143 $ — $ 1,236 Vølund & Other Renewable segment 494 — — 494 SPIG segment 383 — — 383 Corporate 4,374 — 375 4,749 $ 6,344 $ 143 $ 375 $ 6,862

COMPREHENSIVE INCOME (Tables)

COMPREHENSIVE INCOME (Tables)	3 Months Ended
	Mar. 31, 2019
Equity [Abstract]
Schedule of Accumulated Other Comprehensive Income (Loss)	The changes in the components of AOCI, net of tax, for the three months ended March 31, 2019 and 2018 were as follows: (in thousands) Currency translation (loss) gain Net unrealized gain (loss) on derivative instruments (1) Net unrecognized (loss) gain related to benefit plans (net of tax) Total Balance at December 31, 2018 $ (10,834 ) $ 1,362 $ (1,960 ) $ (11,432 ) Other comprehensive income (loss) before reclassifications 10,260 (1,178 ) — 9,082 Reclassified from AOCI to net income (loss) — 224 (356 ) (132 ) Net other comprehensive income (loss) 10,260 (954 ) (356 ) 8,950 Balance at March 31, 2019 $ (574 ) $ 408 $ (2,316 ) $ (2,482 ) (1) The remaining unrealized FX gain/(loss) is expected to be recognized over time as the related projects are completed. (in thousands) Currency translation (loss) gain Net unrealized gain (loss) on investments (net of tax) Net unrealized gain (loss) on derivative instruments Net unrecognized gain (loss) related to benefit plans (net of tax) Total Balance at December 31, 2017 $ (27,837 ) $ 38 $ 1,737 $ 3,633 $ (22,429 ) ASU 2016-1 cumulative adjustment (1) — (38 ) — — (38 ) Other comprehensive income (loss) before reclassifications 3,223 — 1,224 (55 ) 4,392 Reclassified from AOCI to net income (loss) (2,044 ) — (1,272 ) (384 ) (3,700 ) Net other comprehensive income (loss) 1,179 (38 ) (48 ) (439 ) 654 Balance at March 31, 2018 $ (26,658 ) $ — $ 1,689 $ 3,194 $ (21,775 ) (1) ASU 2016-1, Financial Instruments-Overall: Recognition and Measurement of Financial Assets and Financial Liabilities, requires investments to be measured at fair value through earnings each reporting period as opposed to changes in fair value being reported in other comprehensive income (loss). The standard was effective as of January 1, 2018 and requires application by means of a cumulative-effect adjustment to the balance sheet as of the beginning of the fiscal year of adoption.
Reclassification out of Accumulated Other Comprehensive Income	The amounts reclassified out of AOCI by component and the affected Condensed Consolidated Statements of Operations line items are as follows (in thousands): AOCI component Line items in the Condensed Consolidated Statements of Operations affected by reclassifications from AOCI Three months ended March 31, 2019 2018 Release of currency translation gain with the sale of equity method investment Equity in income and impairment of investees $ — $ 2,044 Provision for income taxes — — Net loss $ — $ 2,044 Derivative financial instruments Revenues $ — $ 1,616 Cost of operations — 12 Other (289 ) — Total before tax (289 ) 1,628 Provision (benefit) for income taxes (65 ) 356 Net income $ (224 ) $ 1,272 Amortization of prior service cost on benefit obligations Benefit plans, net $ 356 $ 384 Provision (benefit) for income taxes — — Net income (loss) $ 356 $ 384

INVENTORIES (Tables)

INVENTORIES (Tables)	3 Months Ended
	Mar. 31, 2019
Inventory Disclosure [Abstract]
Schedule of Components of Inventories	The components of inventories are as follows: (in thousands) March 31, 2019 December 31, 2018 Raw materials and supplies $ 45,303 $ 44,833 Work in progress 6,091 5,348 Finished goods 12,395 11,142 Total inventories $ 63,789 $ 61,323

GOODWILL (Tables)

GOODWILL (Tables)	3 Months Ended
	Mar. 31, 2019
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Goodwill	The following summarizes the changes in the net carrying amount of goodwill as of March 31, 2019: (in thousands) Babcock & Wilcox Balance at December 31, 2018 $ 47,108 Currency translation adjustments 23 Balance at March 31, 2019 $ 47,131

INTANGIBLE ASSETS (Tables)

INTANGIBLE ASSETS (Tables)	3 Months Ended
	Mar. 31, 2019
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Intangible Assets	Our intangible assets are as follows: (in thousands) March 31, 2019 December 31, 2018 Definite-lived intangible assets Customer relationships $ 24,638 $ 24,764 Unpatented technology 14,887 15,098 Patented technology 2,601 2,616 Tradename 12,407 12,566 Backlog 17,760 17,760 All other 9,749 9,728 Gross value of definite-lived intangible assets 82,042 82,532 Customer relationships amortization (17,608 ) (17,219 ) Unpatented technology amortization (4,139 ) (3,760 ) Patented technology amortization (2,380 ) (2,348 ) Tradename amortization (3,820 ) (3,672 ) Acquired backlog amortization (17,760 ) (17,760 ) All other amortization (8,524 ) (8,285 ) Accumulated amortization (54,231 ) (53,044 ) Net definite-lived intangible assets $ 27,811 $ 29,488 Indefinite-lived intangible assets Trademarks and trade names $ 1,305 $ 1,305 Total intangible assets, net $ 29,116 $ 30,793
Schedule of Finite-Lived Intangible Assets	The following summarizes the changes in the carrying amount of intangible assets: Three months ended March 31, (in thousands) 2019 2018 Balance at beginning of period $ 30,793 $ 42,065 Amortization expense (1,187 ) (2,069 ) Currency translation adjustments and other (490 ) 400 Balance at end of the period $ 29,116 $ 40,396
Schedule of Indefinite-Lived Intangible Assets	The following summarizes the changes in the carrying amount of intangible assets: Three months ended March 31, (in thousands) 2019 2018 Balance at beginning of period $ 30,793 $ 42,065 Amortization expense (1,187 ) (2,069 ) Currency translation adjustments and other (490 ) 400 Balance at end of the period $ 29,116 $ 40,396
Schedule of Estimated Future Intangible Asset Amortization Expense	Estimated future intangible asset amortization expense is as follows (in thousands): Amortization expense Three months ending June 30, 2019 1,000 Three months ending September 30, 2019 1,000 Three months ending December 31, 2019 987 Twelve months ending December 31, 2020 3,453 Twelve months ending December 31, 2021 3,231 Twelve months ending December 31, 2022 3,165 Twelve months ending December 31, 2023 3,158 Twelve months ending December 31, 2024 3,044 Thereafter 8,773

PROPERTY, PLANT & EQUIPMENT (Ta

PROPERTY, PLANT & EQUIPMENT (Tables)	3 Months Ended
	Mar. 31, 2019
Property, Plant and Equipment [Abstract]
Property, Plant and Equipment	Property, plant and equipment less accumulated depreciation is as follows: (in thousands) March 31, 2019 December 31, 2018 Land $ 3,552 $ 3,575 Buildings 106,405 106,238 Machinery and equipment 181,134 181,825 Property under construction 2,244 2,290 293,335 293,928 Less accumulated depreciation 208,383 203,036 Net property, plant and equipment $ 84,952 $ 90,892

WARRANTY EXPENSE (Tables)

WARRANTY EXPENSE (Tables)	3 Months Ended
	Mar. 31, 2019
Product Warranties Disclosures [Abstract]
Schedule of Changes in Carrying Amount of Accrued Warranty Expense	Changes in the carrying amount of our accrued warranty expense are as follows: Three months ended March 31, (in thousands) 2019 2018 Balance at beginning of period $ 45,117 $ 33,514 Additions 1,991 4,726 Expirations and other changes (385 ) (1,356 ) Payments (1,271 ) (2,739 ) Translation and other (628 ) 583 Balance at end of period $ 44,824 $ 34,728

LEASES (Tables)

LEASES (Tables)	3 Months Ended
	Mar. 31, 2019
Leases [Abstract]
Components of Lease Cost	The components of lease expense were as follows: Three Months Ended (in thousands) March 31, 2019 Operating lease expense $ 1,909 Short-term lease expense 2,861 Variable lease expense 112 Sublease income (1) (10 ) Total lease expense $ 4,872 (1) Sublease income excludes rental income from owned properties. Other information related to leases is as follows: Three Months Ended (in thousands, except lease term and discount rate) March 31, 2019 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from leases $ 2,101 Right-of-use assets obtained in exchange for lease liabilities: Operating leases $ 201 Weighted-average remaining lease term: Operating leases (in years) 3.5 Weighted-average discount rate: Operating leases 9.50 %
Supplemental Balance Sheet Information	Amounts relating to leases were presented in the Condensed Consolidated Balance Sheets as of March 31, 2019 in the following line items: (in thousands) March 31, 2019 Right-of-use assets $ 15,067 Liabilities: Lease liabilities $ 4,895 Noncurrent lease liabilities 9,976 Total lease liabilities $ 14,871
Operating Lease Maturity	Future minimum lease payments required under non-cancellable operating leases as of March 31, 2019 were as follows: (in thousands) 2019 (excluding the three months ended March 31, 2019) $ 4,670 2020 5,032 2021 3,569 2022 1,987 2023 1,234 Thereafter 908 Total $ 17,400 Less imputed interest (2,529 ) Lease liability $ 14,871

PENSION PLANS AND OTHER POSTR_2

PENSION PLANS AND OTHER POSTRETIREMENT BENEFITS (Tables)	3 Months Ended
	Mar. 31, 2019
Retirement Benefits [Abstract]
Schedule of Net Benefit Costs	Components of net periodic benefit cost (benefit) included in net income (loss) are as follows: Pension Benefits Other Benefits Three Months Ended March 31, Three Months Ended March 31, (in thousands) 2019 2018 2019 2018 Interest cost $ 10,860 $ 9,757 $ 121 $ 97 Expected return on plan assets (13,920 ) (16,230 ) — — Amortization of prior service cost 50 25 (539 ) (646 ) Recognized net actuarial loss (gain) 398 — — — Benefit plans, net (1) (2,612 ) (6,448 ) (418 ) (549 ) Service cost included in COS (2) 217 189 4 4 Net periodic benefit cost (benefit) $ (2,395 ) $ (6,259 ) $ (414 ) $ (545 ) (1) Benefit plans, net, which is presented separately in the Condensed Consolidated Statements of Operations, is not allocated to the segments. (2) Service cost related to a small group of active participants is presented within cost of sales in the Condensed Consolidated Statement of Operations and is allocated to the Babcock & Wilcox segment.

REVOLVING DEBT (Tables)

REVOLVING DEBT (Tables)	3 Months Ended
	Mar. 31, 2019
Debt Disclosure [Abstract]
Schedule of Debt	The components of our revolving debt are comprised of separate revolving credit facilities in the following locations: (in thousands) March 31, 2019 December 31, 2018 United States $ 175,300 $ 144,900 Foreign — 606 Total revolving debt $ 175,300 $ 145,506 The components of the Last Out Term Loans are as follows: (in thousands) March 31, 2019 December 31, 2018 Proceeds $ 40,000 $ 30,000 Discount and fees 5,111 5,111 Paid-in-kind interest 1,306 132 Principal 46,417 35,243 Unamortized discount and fees (4,004 ) (4,594 ) Net debt balance $ 42,413 $ 30,649

LAST OUT TERM LOANS (Tables)

LAST OUT TERM LOANS (Tables)	3 Months Ended
	Mar. 31, 2019
Debt Disclosure [Abstract]
Schedule of Debt	The components of our revolving debt are comprised of separate revolving credit facilities in the following locations: (in thousands) March 31, 2019 December 31, 2018 United States $ 175,300 $ 144,900 Foreign — 606 Total revolving debt $ 175,300 $ 145,506 The components of the Last Out Term Loans are as follows: (in thousands) March 31, 2019 December 31, 2018 Proceeds $ 40,000 $ 30,000 Discount and fees 5,111 5,111 Paid-in-kind interest 1,306 132 Principal 46,417 35,243 Unamortized discount and fees (4,004 ) (4,594 ) Net debt balance $ 42,413 $ 30,649

FAIR VALUE MEASUREMENTS (Tables

FAIR VALUE MEASUREMENTS (Tables)	3 Months Ended
	Mar. 31, 2019
Fair Value Disclosures [Abstract]
Schedule of Fair Value of Financial Assets and Liabilities	The following tables summarize our financial assets and liabilities carried at fair value, all of which were valued from readily available prices or using inputs based upon quoted prices for similar instruments in active markets (known as "Level 1" and "Level 2" inputs, respectively, in the fair value hierarchy established by the FASB Topic, Fair Value Measurements and Disclosures ). (in thousands) Available-for-sale securities March 31, 2019 Level 1 Level 2 Level 3 Corporate notes and bonds $ 16,838 $ 16,838 $ — $ — Mutual funds 1,283 — 1,283 — United States Government and agency securities 2,383 2,383 — — Total fair value of available-for-sale securities $ 20,504 $ 19,221 $ 1,283 $ — (in thousands) Available-for-sale securities December 31, 2018 Level 1 Level 2 Level 3 Corporate notes and bonds $ 13,028 $ 13,028 $ — Mutual funds 1,283 — 1,283 — United States Government and agency securities 1,437 1,437 — — Total fair value of available-for-sale securities $ 15,748 $ 14,465 $ 1,283 $ — (in thousands) Derivatives March 31, 2019 December 31, 2018 Forward contracts to purchase/sell foreign currencies $ — $ 546

SUPPLEMENTAL CASH FLOW AND IN_2

SUPPLEMENTAL CASH FLOW AND INTEREST INFORMATION (Tables)	3 Months Ended
	Mar. 31, 2019
Supplemental Cash Flow Information [Abstract]
Schedule of Other Significant Noncash Transactions	In addition to non-cash items described in the Condensed Consolidated Statements of Cash Flows, we also recognized non-cash changes in our Condensed Consolidated Balance Sheets related to interest expense as described below: Three months ended March 31, (in thousands) 2019 2018 Accrued capital expenditures in accounts payable $ 24 $ 300 Accreted interest expense on our Second Lien Term Loan Facility $ — $ 2,369 We recognized the following cash activity in our Condensed Consolidated Financial Statements: Three months ended March 31, (in thousands) 2019 2018 Income tax payments (refunds), net $ (78 ) $ 1,822 Interest payments on our U.S. Revolving Credit Facility 2,403 1,687 Interest payments on our Last Out Term Loans 540 — Interest payments on our Second Lien Term Loan Facility — 5,303
Summary of Interest Expenses	Interest expense in our Condensed Consolidated Financial Statements consisted of the following components: Three months ended March 31, (in thousands) 2019 2018 Components associated with borrowings from: U.S. Revolving Credit Facility $ 3,550 $ 2,345 Second Lien Term Loan Facility — 5,269 Last Out Term Loans - cash interest 513 — Last Out Term Loans - paid-in-kind interest 1,060 — Foreign revolving credit facilities — 134 5,123 7,748 Components associated with amortization or accretion of: U.S. Revolving Credit Facility - deferred financing fees and commitment fees 5,270 3,201 Second Lien Term Loan Facility - discount and financing fees — 2,369 Last Out Term Loans - discount and financing fees 590 — 5,860 5,570 Other interest expense 151 134 Total interest expense $ 11,134 $ 13,452
Schedule of Cash and Cash Equivalents	The following table provides a reconciliation of cash, cash equivalents and restricted cash reporting within the Condensed Consolidated Balance Sheets that sum to the total of the same amounts in the Condensed Consolidated Statements of Cash Flows: (in thousands) March 31, 2019 December 31, 2018 March 31, 2018 December 31, 2017 Held by foreign entities $ 26,746 $ 35,522 $ 23,077 $ 42,490 Held by United States entities 16,781 7,692 76 1,227 Cash and cash equivalents of continuing operations 43,527 43,214 23,153 43,717 Reinsurance reserve requirements 2,841 11,768 22,445 21,061 Restricted foreign accounts 4,118 5,297 6,975 4,919 Sale proceeds held in escrow — — 20,266 — Restricted cash and cash equivalents 6,959 17,065 49,686 25,980 Total cash, cash equivalents and restricted cash of continuing operations shown in the Condensed Consolidated Statements of Cash Flows $ 50,486 $ 60,279 $ 72,839 $ 69,697 Total cash and cash equivalents of discontinued operations $ — $ — $ 14,229 $ 12,950
Schedule of Restricted Cash and Cash Equivalents	The following table provides a reconciliation of cash, cash equivalents and restricted cash reporting within the Condensed Consolidated Balance Sheets that sum to the total of the same amounts in the Condensed Consolidated Statements of Cash Flows: (in thousands) March 31, 2019 December 31, 2018 March 31, 2018 December 31, 2017 Held by foreign entities $ 26,746 $ 35,522 $ 23,077 $ 42,490 Held by United States entities 16,781 7,692 76 1,227 Cash and cash equivalents of continuing operations 43,527 43,214 23,153 43,717 Reinsurance reserve requirements 2,841 11,768 22,445 21,061 Restricted foreign accounts 4,118 5,297 6,975 4,919 Sale proceeds held in escrow — — 20,266 — Restricted cash and cash equivalents 6,959 17,065 49,686 25,980 Total cash, cash equivalents and restricted cash of continuing operations shown in the Condensed Consolidated Statements of Cash Flows $ 50,486 $ 60,279 $ 72,839 $ 69,697 Total cash and cash equivalents of discontinued operations $ — $ — $ 14,229 $ 12,950

BASIS OF PRESENTATION (Details)

BASIS OF PRESENTATION (Details) - Amended Credit Agreement - B. Riley Financial, Inc. - USD ($)	Apr. 05, 2019	Mar. 20, 2019
Debt Instrument [Line Items]
Proceeds from related party		$ 10,000,000
Subsequent Event
Debt Instrument [Line Items]
Proceeds from related party	$ 150,000,000

EARNINGS PER SHARE - Computatio

EARNINGS PER SHARE - Computation of Basic and Diluted Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Earnings Per Share [Abstract]
Loss from continuing operations	$ (49,765)	$ (116,937)
Loss from discontinued operations, net of tax	0	(3,496)
Net loss attributable to stockholders	$ (49,765)	$ (120,433)
Weighted average shares used to calculate basic and diluted earnings per share (in shares)	168,812	44,187
Basic and diluted loss per share - continuing operations (in dollars per share)	$ (0.29)	$ (2.65)
Basic and diluted earnings (loss) per share - discontinued operations (in dollars per share)	0	(0.08)
Basic and diluted loss per share (in dollars per share)	$ (0.29)	$ (2.73)

EARNINGS PER SHARE - Additional

EARNINGS PER SHARE - Additional Information (Details) - shares shares in Millions	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Earnings Per Share [Abstract]
Excluded shares from the WAS to calculated diluted EPS as company was in a net loss position (in shares)	0.4	0.9
Antidilutive securities excluded from computation of EPS (in shares)	3.3	2

DISCONTINUED OPERATIONS - Narra

DISCONTINUED OPERATIONS - Narrative (Details) - USD ($) $ in Thousands	Oct. 05, 2018	Mar. 31, 2019	Mar. 31, 2018
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Proceeds from sale of business		$ 0	$ 5,105
Discontinued Operations, Held-for-sale | MEGTEC and Universal Businesses
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Discontinued operation, consideration transferred	$ 130,000
Proceeds from sale of business	112,000
Cash sold with the businesses	22,500
Consideration, escrow amount	$ 7,700

DISCONTINUED OPERATIONS - Disco

DISCONTINUED OPERATIONS - Discontinued Operations Included in Statement of Operations (Details) - MEGTEC and Universal Businesses - Discontinued Operations, Held-for-sale $ in Thousands	3 Months Ended
	Mar. 31, 2018USD ($)
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Revenue	$ 58,181
Cost of operations	44,668
Selling, general and administrative	9,427
Research and development	365
Operating income	3,721
Income tax expense	7,118
Net loss	$ (3,496)

DISCONTINUED OPERATIONS - Dis_2

DISCONTINUED OPERATIONS - Discontinued Operations Included in Cash Flows (Details) - Discontinued Operations, Held-for-sale - MEGTEC and Universal Businesses $ in Thousands	3 Months Ended
	Mar. 31, 2018USD ($)
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Depreciation and amortization	$ 2,089
Provision for deferred income taxes	3,033
Purchase of property, plant equipment	$ (65)

SEGMENT REPORTING - Schedule of

SEGMENT REPORTING - Schedule of Operating Results by Segment (Details) $ in Thousands, € in Millions	3 Months Ended
	Mar. 31, 2019USD ($)segment	Mar. 31, 2019EUR (€)segment	Mar. 31, 2018USD ($)
Segment Reporting Information [Line Items]
Number of reportable segments | segment	3	3
Revenues	$ 231,936		$ 253,176
Gross profit (loss)	30,869		(24,169)
Amortization of intangible assets	(130)		(237)
Selling, general and administrative (SG&A) expenses	(42,269)		(59,172)
Advisory fees and settlement costs	(13,610)		(3,089)
Restructuring activities and spin-off transaction costs	(6,079)		(6,862)
Research and development costs	(743)		(1,142)
Equity in income and impairment of investees	0		(11,757)
Adjusted EBITDA	(4,967)		(77,643)
Research and development costs	(743)		(1,142)
Restructuring activities and spin-off transaction costs	(6,079)		(6,862)
Financial advisory services	(3,958)		(3,089)
Settlement cost to amend Vølund contract	(6,575)	€ (5)	0
Advisory fees for settlement costs and liquidity planning	(3,077)		0
Impairment of equity method investment in TBWES	0		(18,362)
Gain on sale of equity method investment in BWBC	0		6,509
Depreciation & amortization	(7,306)		(6,981)
Operating loss	(31,962)		(106,428)
Interest expense, net	(10,575)		(13,299)
Other – net	3,428		6,997
MTM loss from benefit plans	(398)		0
Foreign exchange	10,153		(2,457)
Other – net	420		397
Loss before income tax expense	(49,240)		(109,876)
Income tax expense	626		6,963
Loss from continuing operations	(49,866)		(116,839)
Loss from discontinued operations, net of tax	0		(3,496)
Net loss	(49,866)		(120,335)
Net income (loss) attributable to noncontrolling interest	101		(98)
Net loss attributable to stockholders	(49,765)		(120,433)
Eliminations
Segment Reporting Information [Line Items]
Revenues	(15,056)		(2,652)
Corporate
Segment Reporting Information [Line Items]
Adjusted EBITDA	(4,984)		(11,614)
Corporate | MEGTEC and Universal Businesses | Discontinued Operations, Held-for-sale
Segment Reporting Information [Line Items]
Adjusted EBITDA			2,900
Segment Reconciling Items
Segment Reporting Information [Line Items]
Research and development costs	(743)		(1,142)
Segment Reconciling Items | Cost of Sales
Segment Reporting Information [Line Items]
Amortization of intangible assets	(1,057)		(1,832)
Babcock & Wilcox segment
Segment Reporting Information [Line Items]
Revenues	188,558		159,126
Babcock & Wilcox segment | Operating Segments
Segment Reporting Information [Line Items]
Gross profit (loss)	31,106		30,863
Adjusted EBITDA	8,964		4,177
Net benefit from pension and other postretirement benefit plans			(7,000)
Babcock & Wilcox segment | Operating Segments | Retrofits
Segment Reporting Information [Line Items]
Revenues	30,674		61,983
Babcock & Wilcox segment | Operating Segments | New build utility and environmental
Segment Reporting Information [Line Items]
Revenues	68,907		12,847
Babcock & Wilcox segment | Operating Segments | Aftermarket parts and field engineering services
Segment Reporting Information [Line Items]
Revenues	63,087		73,073
Babcock & Wilcox segment | Operating Segments | Industrial steam generation
Segment Reporting Information [Line Items]
Revenues	47,010		14,906
Babcock & Wilcox segment | Eliminations
Segment Reporting Information [Line Items]
Revenues	(21,120)		(3,683)
Vølund & Other Renewable segment
Segment Reporting Information [Line Items]
Revenues	29,532		59,958
Vølund & Other Renewable segment | Operating Segments
Segment Reporting Information [Line Items]
Gross profit (loss)	(2,856)		(50,449)
Adjusted EBITDA	(8,863)		(61,754)
Vølund & Other Renewable segment | Operating Segments | Renewable new build and services
Segment Reporting Information [Line Items]
Revenues	29,533		44,711
Vølund & Other Renewable segment | Operating Segments | Operations and maintenance services
Segment Reporting Information [Line Items]
Revenues	560		15,247
Vølund & Other Renewable segment | Eliminations
Segment Reporting Information [Line Items]
Revenues	(561)		0
SPIG segment
Segment Reporting Information [Line Items]
Revenues	28,902		36,744
SPIG segment | Operating Segments
Segment Reporting Information [Line Items]
Gross profit (loss)	3,676		(2,751)
Adjusted EBITDA	659		(7,310)
SPIG segment | Operating Segments | New build cooling systems
Segment Reporting Information [Line Items]
Revenues	21,006		29,045
SPIG segment | Operating Segments | Aftermarket cooling system services
Segment Reporting Information [Line Items]
Revenues	8,171		7,699
SPIG segment | Eliminations
Segment Reporting Information [Line Items]
Revenues	$ (275)		$ 0

REVENUE RECOGNITION AND CONTR_3

REVENUE RECOGNITION AND CONTRACTS - Narrative (Details) $ in Thousands	Jan. 01, 2018USD ($)
Disaggregation of Revenue [Line Items]
Net increase in retained earnings	$ (38)
Accumulated Deficit | Accounting Standards Update 2014-09
Disaggregation of Revenue [Line Items]
Net increase in retained earnings	$ 500

REVENUE RECOGNITION AND CONTR_4

REVENUE RECOGNITION AND CONTRACTS - Contract Assets and Liabilities (Details) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Dec. 31, 2018
Contract assets - included in contracts in progress:
Costs incurred less costs of revenue recognized	$ 45,394		$ 49,910
Revenues recognized less billings to customers	91,013		94,817
Contracts in progress	136,407		144,727
Contract liabilities - included in advance billings on contracts:
Billings to customers less revenues recognized	152,416		140,933
Costs of revenue recognized less cost incurred	2,863		8,434
Advance billings on contracts	155,279		149,367
Net contract balance	(18,872)		(4,640)
Accrued contract losses	25,890		$ 61,651
Transferred over Time
Contract liabilities - included in advance billings on contracts:
Increases in gross profits for changes in estimates for over time contracts	9,525	$ 5,337
Decreases in gross profits for changes in estimates for over time contracts	(9,396)	(54,865)
Net changes in gross profits for changes in estimates for over time contracts	129	$ (49,528)
Accounting Standards Update 2014-09 | Topic 606
Contract assets - included in contracts in progress:
Costs incurred less costs of revenue recognized	$ (4,516)
Costs incurred less costs of revenue recognized, % Change	(9.00%)
Revenues recognized less billings to customers	$ (3,804)
Revenues recognized less billings to customers, % Change	(4.00%)
Contracts in progress	$ (8,320)
Contracts in progress, % Change	(6.00%)
Contract liabilities - included in advance billings on contracts:
Billings to customers less revenues recognized	$ 11,483
Billings to customers less revenues recognized, % Change	8.00%
Costs of revenue recognized less cost incurred	$ (5,571)
Costs of revenue recognized less cost incurred, % Change	(66.00%)
Advance billings on contracts	$ 5,912
Advance billings on contracts, % Change	4.00%
Net contract balance	$ (14,232)
Net contract balance, % Change	307.00%
Accrued contract losses	$ (35,761)
Accrued contract losses, % Change	(58.00%)

REVENUE RECOGNITION AND CONTR_5

REVENUE RECOGNITION AND CONTRACTS - Backlog (Details) $ in Millions	Mar. 31, 2019USD ($)
Revenue from Contract with Customer [Abstract]
Remaining performance obligation	$ 766
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2019-04-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligations (as a percent)	50.00%
Expected timing of satisfaction, period	9 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2020-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligations (as a percent)	15.00%
Expected timing of satisfaction, period	12 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligations (as a percent)	35.00%
Expected timing of satisfaction, period

REVENUE RECOGNITION AND CONTR_6

REVENUE RECOGNITION AND CONTRACTS - Volund EPC Loss Contracts (Details) $ in Thousands, € in Millions, kr in Millions	Apr. 05, 2019USD ($)	Apr. 05, 2019EUR (€)	Mar. 31, 2019USD ($)contract	Mar. 31, 2019EUR (€)contract	Dec. 31, 2018USD ($)	Mar. 31, 2018USD ($)contract	Sep. 30, 2016USD ($)	Sep. 30, 2016DKK (kr)	Dec. 31, 2017USD ($)contract	Apr. 16, 2019USD ($)
Disaggregation of Revenue [Line Items]
Number of contracts in a loss position | contract									6
Renewable loss contracts, net loss recognized on changes in estimated revenues and costs			$ 4,100			$ 52,600
Number of contracts with an increase in estimates of anticipated liquidated damages | contract			6	6		6
Renewable loss contracts, increase in estimate of anticipated liquidated damages			$ 0			$ 13,300
Estimate of anticipated liquidated damages			88,600			90,300
Insurance settlement receivable			15,500
Self insurance reserve			12,200
Settlement cost to amend Vølund contract			6,575	€ 5		$ 0
Subsequent Event
Disaggregation of Revenue [Line Items]
Insurance settlement receivable										$ 19,500
First European renewable project
Disaggregation of Revenue [Line Items]
Estimate of anticipated liquidated damages			$ 9,100
Percentage of completion on European renewable energy project			97.00%	97.00%		97.00%
Change in construction cost estimates						$ (7,100)
Reserve for estimated contract losses			$ 3,600
Contract, accrued losses						$ 2,700
Proceeds from insurance settlement							$ 15,500	kr 100
Second European renewable project
Disaggregation of Revenue [Line Items]
Estimate of anticipated liquidated damages			$ 19,200
Percentage of completion on European renewable energy project			98.00%	98.00%		87.00%
Change in construction cost estimates			$ (800)			$ (4,100)
Reserve for estimated contract losses			1,400			5,700
Contract, accrued losses						$ 9,400
Third European renewable project
Disaggregation of Revenue [Line Items]
Estimate of anticipated liquidated damages			$ 6,700
Percentage of completion on European renewable energy project			99.00%	99.00%		98.00%
Change in construction cost estimates			$ 0
Reserve for estimated contract losses			300
Contract, accrued losses						$ 800
Reduction (increase) in estimated contract losses at completion						$ (1,900)
Fourth European renewable project
Disaggregation of Revenue [Line Items]
Estimate of anticipated liquidated damages			$ 20,800
Percentage of completion on European renewable energy project			99.00%	99.00%		87.00%
Change in construction cost estimates			$ (300)
Reserve for estimated contract losses			800
Reduction (increase) in estimated contract losses at completion						$ (12,100)
Fifth European Renewable project
Disaggregation of Revenue [Line Items]
Estimate of anticipated liquidated damages			$ 13,700
Rejection clause settlement reserve					$ 81,100
Percentage of completion on European renewable energy project			90.00%	90.00%		61.00%
Change in construction cost estimates			$ (2,300)			$ (18,200)
Reserve for estimated contract losses			15,800			$ 23,500
Structural steel beam costs			36,000
Fifth European Renewable project | Subsequent Event
Disaggregation of Revenue [Line Items]
Payment for limiting obligations	$ 91,500	€ 70
Rejection clause	$ 144,000
Sixth European renewable project
Disaggregation of Revenue [Line Items]
Estimate of anticipated liquidated damages			$ 19,100
Percentage of completion on European renewable energy project			98.00%	98.00%		83.00%
Change in construction cost estimates			$ (800)			$ (9,300)
Reserve for estimated contract losses			$ 600			$ (3,500)
Other renewable energy projects
Disaggregation of Revenue [Line Items]
Power output bonus opportunities									$ 19,000

REVENUE RECOGNITION AND CONTR_7

REVENUE RECOGNITION AND CONTRACTS - SPIG U.S. Loss Contracts (Details) $ in Millions	Mar. 31, 2019USD ($)contract	Dec. 31, 2017contract
Disaggregation of Revenue [Line Items]
Number of contracts in a loss position		6
SPIG segment
Disaggregation of Revenue [Line Items]
Number of contracts in a loss position	1
Percent complete	86.00%
Reserve for estimated contract losses | $	$ 2

RESTRUCTURING ACTIVITIES AND _3

RESTRUCTURING ACTIVITIES AND SPIN-OFF TRANSACTION COSTS - Restructuring Activity (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Restructuring Cost and Reserve [Line Items]
Total severance and related costs	$ 6,079	$ 6,344
Exit costs		143
Spin-off transaction costs		375
Total	6,079	6,862
Babcock & Wilcox segment
Restructuring Cost and Reserve [Line Items]
Total severance and related costs	3,947	1,093
Exit costs		143
Spin-off transaction costs		0
Total		1,236
Vølund & Other Renewable segment
Restructuring Cost and Reserve [Line Items]
Total severance and related costs	578	494
Exit costs		0
Spin-off transaction costs		0
Total		494
SPIG segment
Restructuring Cost and Reserve [Line Items]
Total severance and related costs	144	383
Exit costs		0
Spin-off transaction costs		0
Total		383
Corporate
Restructuring Cost and Reserve [Line Items]
Total severance and related costs	$ 1,410	4,374
Exit costs		0
Spin-off transaction costs		375
Total		$ 4,749

RESTRUCTURING ACTIVITIES AND _4

RESTRUCTURING ACTIVITIES AND SPIN-OFF TRANSACTION COSTS - Restructuring Liabilities (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Restructuring Reserve [Roll Forward]
Balance at beginning of period	$ 7,359	$ 2,244
Restructuring expense	6,079	5,888
Payments	(3,242)	(2,218)
Balance at March 31	$ 10,196	$ 5,914

RESTRUCTURING ACTIVITIES AND _5

RESTRUCTURING ACTIVITIES AND SPIN-OFF TRANSACTION COSTS - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Dec. 31, 2018
Restructuring Cost and Reserve [Line Items]
Restructuring activities and spin-off transaction costs	$ 6,079	$ 6,862
Restructuring related to gains on disposals of long-lived assets		$ 600
Employee Severance
Restructuring Cost and Reserve [Line Items]
Expected severance costs			$ 2,000

PROVISION FOR INCOME TAXES - Na

PROVISION FOR INCOME TAXES - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Operating Loss Carryforwards [Line Items]
Income tax expense	$ 626	$ 6,963
Effective tax rate	(1.30%)	(6.30%)
Favorable discrete items	$ 200
Federal net operating loss and credit carryforward limitation	1,700
Federal net operating loss and credit carryforward limitation, tax effected	$ 400
Minimum | Foreign Tax Authority
Operating Loss Carryforwards [Line Items]
Effective tax rate	19.00%
Maximum | Foreign Tax Authority
Operating Loss Carryforwards [Line Items]
Effective tax rate	30.00%

COMPREHENSIVE INCOME - Accumula

COMPREHENSIVE INCOME - Accumulated Other Comprehensive Income (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Jan. 01, 2018
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Stockholders' equity, beginning balance	$ (277,297)	$ 190,703
ASU 2016-1 cumulative adjustment			$ (38)
Reclassified from AOCI to net income (loss)	(132)	(3,700)
Net other comprehensive income (loss)	8,950	692
Net other comprehensive income (loss)		654
Stockholders' equity, ending balance	(317,852)	69,996
Accumulated Other Comprehensive (Loss) Income
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Stockholders' equity, beginning balance	(11,432)	(22,429)
Other comprehensive income (loss) before reclassifications	9,082	4,392
Stockholders' equity, ending balance	(2,482)	(21,775)
Currency translation (loss) gain
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Stockholders' equity, beginning balance	(10,834)	(27,837)
ASU 2016-1 cumulative adjustment			0
Other comprehensive income (loss) before reclassifications	10,260	3,223
Reclassified from AOCI to net income (loss)	0	(2,044)
Net other comprehensive income (loss)	10,260
Net other comprehensive income (loss)		1,179
Stockholders' equity, ending balance	(574)	(26,658)
Net unrealized gain (loss) on investments (net of tax)
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Stockholders' equity, beginning balance		38
ASU 2016-1 cumulative adjustment			(38)
Other comprehensive income (loss) before reclassifications		0
Reclassified from AOCI to net income (loss)		0
Net other comprehensive income (loss)		(38)
Stockholders' equity, ending balance		0
Net unrealized gain (loss) on derivative instruments
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Stockholders' equity, beginning balance	1,362	1,737
ASU 2016-1 cumulative adjustment			0
Other comprehensive income (loss) before reclassifications	(1,178)	1,224
Reclassified from AOCI to net income (loss)	224	(1,272)
Net other comprehensive income (loss)	(954)
Net other comprehensive income (loss)		(48)
Stockholders' equity, ending balance	408	1,689
Net unrecognized gain (loss) related to benefit plans (net of tax)
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Stockholders' equity, beginning balance	(1,960)	3,633
ASU 2016-1 cumulative adjustment			$ 0
Other comprehensive income (loss) before reclassifications	0	(55)
Reclassified from AOCI to net income (loss)	(356)	(384)
Net other comprehensive income (loss)	(356)
Net other comprehensive income (loss)		(439)
Stockholders' equity, ending balance	$ (2,316)	$ 3,194

COMPREHENSIVE INCOME - Reclassi

COMPREHENSIVE INCOME - Reclassification out of Accumulated other Comprehensive Income (Details) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Dec. 31, 2018
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Equity in income and impairment of investees	$ 0	$ (11,757)
Provision (benefit) for income taxes	626	6,963
Revenues	231,936	253,176
Cost of operations	(201,067)	(277,345)
Other	420	397
Benefit plans, net	3,030	6,997
Loss before income tax expense	(49,240)	(109,876)
Loss from continuing operations	(49,866)	(116,839)
Reclassification out of Accumulated Other Comprehensive Income | Release of currency translation gain with the sale of equity method investment
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Equity in income and impairment of investees	0	2,044
Provision (benefit) for income taxes	0	0
Loss from continuing operations	0	2,044
Reclassification out of Accumulated Other Comprehensive Income | Derivative financial instruments
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Provision (benefit) for income taxes	(65)	356
Revenues	0	1,616
Cost of operations	0	12
Other	(289)		$ 0
Loss before income tax expense	(289)	1,628
Loss from continuing operations	(224)	1,272
Reclassification out of Accumulated Other Comprehensive Income | Amortization of prior service cost on benefit obligations
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Provision (benefit) for income taxes	0	0
Benefit plans, net	356	384
Loss from continuing operations	$ 356	$ 384

INVENTORIES (Details)

INVENTORIES (Details) - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
Inventory Disclosure [Abstract]
Raw materials and supplies	$ 45,303	$ 44,833
Work in progress	6,091	5,348
Finished goods	12,395	11,142
Total inventories	$ 63,789	$ 61,323

EQUITY METHOD INVESTMENTS - Nar

EQUITY METHOD INVESTMENTS - Narrative (Details) - USD ($) $ in Thousands	1 Months Ended	3 Months Ended
	Jul. 31, 2018	Mar. 31, 2019	Mar. 31, 2018
Schedule of Equity Method Investments [Line Items]
Gain on sale of equity method investment in BWBC		$ 0	$ 6,509
Proceeds from sale of equity method investments in joint venture		0	21,078
Currency translation adjustments (CTA), net of taxes		(10,260)	(3,223)
Impairment of equity method investment in TBWES		$ 0	18,362
TBWES
Schedule of Equity Method Investments [Line Items]
Currency translation adjustments (CTA), net of taxes	$ 2,600
BWBC
Schedule of Equity Method Investments [Line Items]
Sales price on equity method investment			21,100
Gain on sale of equity method investment in BWBC			6,500
Withholding tax on sale of investment			1,300
Proceeds from sale of equity method investments in joint venture			$ 19,800
TBWES
Schedule of Equity Method Investments [Line Items]
Gain on sale of equity method investment in BWBC	7,300
Proceeds from sale of equity method investments	15,000
Investments in unconsolidated affiliates	$ 7,700

GOODWILL - Schedule of Goodwill

GOODWILL - Schedule of Goodwill (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2019USD ($)
Goodwill [Roll Forward]
Beginning balance	$ 47,108
Ending balance	47,131
Babcock & Wilcox
Goodwill [Roll Forward]
Beginning balance	47,108
Currency translation adjustments	23
Ending balance	$ 47,131

INTANGIBLE ASSETS - Intangible

INTANGIBLE ASSETS - Intangible Assets (Details) - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
Definite-lived intangible assets
Gross value of definite-lived intangible assets	$ 82,042	$ 82,532
Accumulated amortization	(54,231)	(53,044)
Net definite-lived intangible assets	27,811	29,488
Indefinite-lived intangible assets
Total intangible assets, net	29,116	30,793
Trademarks and trade names
Indefinite-lived intangible assets
Total intangible assets, net	1,305	1,305
Customer relationships
Definite-lived intangible assets
Gross value of definite-lived intangible assets	24,638	24,764
Accumulated amortization	(17,608)	(17,219)
Unpatented technology
Definite-lived intangible assets
Gross value of definite-lived intangible assets	14,887	15,098
Accumulated amortization	(4,139)	(3,760)
Patented technology
Definite-lived intangible assets
Gross value of definite-lived intangible assets	2,601	2,616
Accumulated amortization	(2,380)	(2,348)
Tradename
Definite-lived intangible assets
Gross value of definite-lived intangible assets	12,407	12,566
Accumulated amortization	(3,820)	(3,672)
Backlog
Definite-lived intangible assets
Gross value of definite-lived intangible assets	17,760	17,760
Accumulated amortization	(17,760)	(17,760)
All other
Definite-lived intangible assets
Gross value of definite-lived intangible assets	9,749	9,728
Accumulated amortization	$ (8,524)	$ (8,285)

INTANGIBLE ASSETS - Summary of

INTANGIBLE ASSETS - Summary of Changes in Carrying Amount of Intangible Assets (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Intangible Assets [Roll Forward]
Balance at beginning of period	$ 30,793	$ 42,065
Amortization expense	(1,187)	(2,069)
Currency translation adjustments and other	(490)	400
Balance at end of the period	$ 29,116	$ 40,396

INTANGIBLE ASSETS - Estimated F

INTANGIBLE ASSETS - Estimated Future Intangible Asset Amortization (Details) $ in Thousands	Mar. 31, 2019USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
Three months ending June 30, 2019	$ 1,000
Three months ending September 30, 2019	1,000
Three months ending December 31, 2019	987
Twelve months ending December 31, 2020	3,453
Twelve months ending December 31, 2020	3,231
Twelve months ending December 31, 2022	3,165
Twelve months ending December 31, 2023	3,158
Twelve months ending December 31, 2024	3,044
Thereafter	$ 8,773

PROPERTY, PLANT & EQUIPMENT (De

PROPERTY, PLANT & EQUIPMENT (Details) - USD ($) $ in Thousands	3 Months Ended	7 Months Ended
	Mar. 31, 2019	Mar. 31, 2019	Dec. 31, 2018
Property, Plant and Equipment [Line Items]
Property, plant and equipment - gross	$ 293,335	$ 293,335	$ 293,928
Less accumulated depreciation	208,383	208,383	203,036
Net property, plant and equipment	84,952	84,952	90,892
Expected accelerated depreciation expense to be recognized through mid-2019	7,900	7,900
Accelerated depreciation expense	2,000	5,300
Land
Property, Plant and Equipment [Line Items]
Property, plant and equipment - gross	3,552	3,552	3,575
Buildings
Property, Plant and Equipment [Line Items]
Property, plant and equipment - gross	106,405	106,405	106,238
Machinery and equipment
Property, Plant and Equipment [Line Items]
Property, plant and equipment - gross	181,134	181,134	181,825
Property under construction
Property, Plant and Equipment [Line Items]
Property, plant and equipment - gross	$ 2,244	$ 2,244	$ 2,290

WARRANTY EXPENSE (Details)

WARRANTY EXPENSE (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Movement in Extended Product Warranty Accrual [Roll Forward]
Balance at beginning of period	$ 45,117	$ 33,514
Additions	1,991	4,726
Expirations and other changes	(385)	(1,356)
Payments	(1,271)	(2,739)
Translation and other	(628)	583
Balance at end of period	$ 44,824	$ 34,728

LEASES - Narrative (Details)

LEASES - Narrative (Details) $ in Millions	1 Months Ended	3 Months Ended
	Sep. 30, 2018USD ($)contract	Mar. 31, 2019
Leases [Abstract]
Term of contract	15 years	10 years
Number of additional renewal terms | contract	2
Lease term extension	10 years	5 years
Percent increase for base rent annually	2.00%
Additional future minimum payments | $	$ 55
Termination period		1 year

LEASES - Components of Lease Ex

LEASES - Components of Lease Expense (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2019USD ($)
Leases [Abstract]
Operating lease expense	$ 1,909
Short-term lease expense	2,861
Variable lease expense	112
Sublease income	(10)
Total lease expense	$ 4,872

LEASES - Other Information Rela

LEASES - Other Information Related to Leases (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2019USD ($)
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from leases	$ 2,101
Right-of-use assets obtained in exchange for lease liabilities:
Operating leases	$ 201
Weighted-average remaining lease term:
Operating leases (in years)	3 years 6 months
Weighted-average discount rate:
Operating leases	9.50%

LEASES - Supplemental Balance S

LEASES - Supplemental Balance Sheet Information (Details) $ in Thousands	Mar. 31, 2019USD ($)
Leases [Abstract]
Right-of-use assets	$ 15,067
Liabilities:
Lease liabilities	4,895
Noncurrent lease liabilities	9,976
Total lease liabilities	$ 14,871

LEASES - Future Minimum Lease P

LEASES - Future Minimum Lease Payments Required (Details) $ in Thousands	Mar. 31, 2019USD ($)
Leases [Abstract]
2019 (excluding the three months ended March 31, 2019)	$ 4,670
2020	5,032
2021	3,569
2022	1,987
2023	1,234
Thereafter	908
Total	17,400
Less imputed interest	(2,529)
Total lease liabilities	$ 14,871

PENSION PLANS AND OTHER POSTR_3

PENSION PLANS AND OTHER POSTRETIREMENT BENEFITS - Components of Net Periodic Benefit Cost (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Pension Benefits
Defined Benefit Plan Disclosure [Line Items]
Interest cost	$ 10,860	$ 9,757
Expected return on plan assets	(13,920)	(16,230)
Amortization of prior service cost	50	25
Recognized net actuarial loss (gain)	398	0
Benefit plans, net	(2,612)	(6,448)
Service cost included in COS	217	189
Net periodic benefit cost (benefit)	(2,395)	(6,259)
Other Benefits
Defined Benefit Plan Disclosure [Line Items]
Interest cost	121	97
Expected return on plan assets	0	0
Amortization of prior service cost	(539)	(646)
Recognized net actuarial loss (gain)	0	0
Benefit plans, net	(418)	(549)
Service cost included in COS	4	4
Net periodic benefit cost (benefit)	$ (414)	$ (545)

REVOLVING DEBT - Schedule of Re

REVOLVING DEBT - Schedule of Revolving Debt (Details) - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
Debt Instrument [Line Items]
Total revolving debt	$ 175,300	$ 145,506
United States
Debt Instrument [Line Items]
Total revolving debt	175,300	144,900
Foreign
Debt Instrument [Line Items]
Total revolving debt	$ 0	$ 606

PENSION PLANS AND OTHER POSTR_4

PENSION PLANS AND OTHER POSTRETIREMENT BENEFITS - Narrative (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Defined Benefit Plan Disclosure [Line Items]
Mark to market gain (loss)	$ (0.4)
Company contributions	1.5	$ 3.4
Pension Benefits | Domestic Plans
Defined Benefit Plan Disclosure [Line Items]
Additional expected benefit payment	$ 15

REVOLVING DEBT - U.S. Revolving

REVOLVING DEBT - U.S. Revolving Credit Facility (Details) - USD ($)	Apr. 05, 2019	Mar. 20, 2019	Mar. 31, 2019	Apr. 08, 2019	Dec. 31, 2018	May 11, 2015
Debt Instrument [Line Items]
Collateral fee, amount			$ 1,500,000
Credit fee, percent			1.50%
Total revolving debt			$ 175,300,000		$ 145,506,000
Letters of credit outstanding			43,600,000
Amended Credit Agreement
Debt Instrument [Line Items]
Prepayment limitation amount			86,000,000
Revolving Credit Facility
Debt Instrument [Line Items]
Remaining borrowing capacity			2,800,000
Senior Secured Revolving Credit Facility
Debt Instrument [Line Items]
Maximum borrowing capacity						$ 347,000,000
Total revolving debt			$ 175,300,000		$ 144,900,000
Senior Secured Revolving Credit Facility | London Interbank Offered Rate (LIBOR) | Twelve months ended December 31, 2018
Debt Instrument [Line Items]
Basis spread on variable rate			5.00%
Senior Secured Revolving Credit Facility | London Interbank Offered Rate (LIBOR) | Twelve months ended December 31, 2019
Debt Instrument [Line Items]
Basis spread on variable rate			6.00%
Senior Secured Revolving Credit Facility | London Interbank Offered Rate (LIBOR) | Twelve months ended December 31, 2020
Debt Instrument [Line Items]
Basis spread on variable rate			7.00%
Senior Secured Revolving Credit Facility | Base Rate | Twelve months ended December 31, 2018
Debt Instrument [Line Items]
Basis spread on variable rate			4.00%
Senior Secured Revolving Credit Facility | Base Rate | Twelve months ended December 31, 2019
Debt Instrument [Line Items]
Basis spread on variable rate			5.00%
Senior Secured Revolving Credit Facility | Base Rate | Twelve months ended December 31, 2020
Debt Instrument [Line Items]
Basis spread on variable rate			6.00%
Senior Secured Revolving Credit Facility | Maximum | London Interbank Offered Rate (LIBOR)
Debt Instrument [Line Items]
Basis spread on variable rate			1.00%
Senior Secured Revolving Credit Facility | Maximum | Base Rate
Debt Instrument [Line Items]
Basis spread on variable rate			0.50%
Senior Secured Revolving Credit Facility | Covenant Relief Period
Debt Instrument [Line Items]
Commitment fee, percent			1.00%
Senior Secured Revolving Credit Facility | Letter of Credit
Debt Instrument [Line Items]
Letters of credit outstanding			$ 139,900,000
Financial Letter of Credit outstanding
Debt Instrument [Line Items]
Credit fee, percent			2.50%
Financial Standby Letter of Credit | Letter of Credit
Debt Instrument [Line Items]
Letters of credit outstanding			$ 28,900,000
Subsequent Event | Senior Secured Revolving Credit Facility
Debt Instrument [Line Items]
Additional line of credit capacity				$ 35,000,000
B. Riley Financial, Inc. | Amended Credit Agreement
Debt Instrument [Line Items]
Proceeds from related party		$ 10,000,000
B. Riley Financial, Inc. | Subsequent Event | Amended Credit Agreement
Debt Instrument [Line Items]
Proceeds from related party	$ 150,000,000
Incremental uncommitted facility	$ 15,000,000

REVOLVING DEBT - Amendment to C

REVOLVING DEBT - Amendment to Credit Agreement (Details)	Apr. 05, 2019USD ($)	Mar. 20, 2019USD ($)	Mar. 31, 2019
Debt Instrument [Line Items]
Credit fee, percent			1.50%
Deferred ticking fee			1.00%
Incremental fee			1.00%
Contingent consent fee			4.00%
Subsequent Event | Quarter Ended March 31, 2019 | Maximum
Debt Instrument [Line Items]
Senior debt leverage ratio	9.75
Subsequent Event | Quarter Ended March 31, 2019 | Minimum
Debt Instrument [Line Items]
Interest coverage ratio	0.75
Subsequent Event | Quarter Ended June 30, 2019 | Maximum
Debt Instrument [Line Items]
Senior debt leverage ratio	9.25
Subsequent Event | Quarter Ended June 30, 2019 | Minimum
Debt Instrument [Line Items]
Interest coverage ratio	0.90
Subsequent Event | Quarter Ended September 30, 2019 | Maximum
Debt Instrument [Line Items]
Senior debt leverage ratio	6.75
Subsequent Event | Quarter Ended September 30, 2019 | Minimum
Debt Instrument [Line Items]
Interest coverage ratio	1.10
Subsequent Event | Quarter Ended December 31, 2019 | Maximum
Debt Instrument [Line Items]
Senior debt leverage ratio	6
Subsequent Event | Quarter Ended December 31, 2019 | Minimum
Debt Instrument [Line Items]
Interest coverage ratio	1.10
Subsequent Event | Quarter Ended March 31, 2020 | Maximum
Debt Instrument [Line Items]
Senior debt leverage ratio	3.50
Subsequent Event | Quarter Ended March 31, 2020 | Minimum
Debt Instrument [Line Items]
Interest coverage ratio	1.50
Subsequent Event | Quarter Ended June 30, 2020 | Maximum
Debt Instrument [Line Items]
Senior debt leverage ratio	3.25
Subsequent Event | Quarter Ended June 30, 2020 | Minimum
Debt Instrument [Line Items]
Interest coverage ratio	1.75
Amended Credit Agreement | Subsequent Event
Debt Instrument [Line Items]
Additional letters of credit	$ 20,000,000
Loss on contract amount	10,000,000
Amended Credit Agreement | Subsequent Event | Minimum
Debt Instrument [Line Items]
Liquidity	30,000,000
B. Riley Financial, Inc. | Amended Credit Agreement
Debt Instrument [Line Items]
Proceeds from related party		$ 10,000,000
B. Riley Financial, Inc. | Amended Credit Agreement | Subsequent Event
Debt Instrument [Line Items]
Proceeds from related party	150,000,000
Incremental uncommitted facility	$ 15,000,000

REVOLVING DEBT - Foreign Revolv

REVOLVING DEBT - Foreign Revolving Credit Facilities (Details) - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
Debt Instrument [Line Items]
Borrowing amount	$ 175,300	$ 145,506
Effective interest rate	8.62%
Foreign revolving credit facilities
Debt Instrument [Line Items]
Borrowing amount	$ 0	$ 606
Effective interest rate		40.00%

REVOLVING DEBT - Other Credit A

REVOLVING DEBT - Other Credit Arrangements (Details) - USD ($) $ in Millions	Mar. 31, 2019	Dec. 31, 2018
Guarantor Obligations [Line Items]
Letters of credit not secured by the US Credit Facility	$ 153	$ 175.9
Letters of credit and bank guarantees partially covered by the US Credit Facility	65.4
Letters of credit outstanding	43.6
Guarantor obligations	203.3
Surety Bond
Guarantor Obligations [Line Items]
Letters of credit outstanding	$ 22.7

LAST OUT TERM LOANS (Details)

LAST OUT TERM LOANS (Details) - USD ($)	Apr. 05, 2019	Mar. 20, 2019	May 04, 2018	Mar. 31, 2019	Dec. 31, 2018
Debt Instrument [Line Items]
Effective interest rate				8.62%
Debt prepayment amount			$ 500,000
Amended Credit Agreement
Debt Instrument [Line Items]
Discount and fees				$ 2,000,000
Allowable last-out loans				30,000,000
Face amount				$ 30,000,000
Original issue discount				10.00%
Effective interest rate				19.51%
Amended Credit Agreement | Subsequent Event
Debt Instrument [Line Items]
Original issue discount	3.20%
Debt prepayment amount	$ 86,000,000
Subscription price (in dollars per share)	$ 0.30
Amended Credit Agreement | Subsequent Event | During Prepayment Period
Debt Instrument [Line Items]
Fixed rate per annum	12.00%
Amended Credit Agreement | Subsequent Event | After Prepayment Period
Debt Instrument [Line Items]
Basis spread on variable rate, cash portion	7.50%
Basis spread on variable rate, paid-in kind portion	10.50%
Fixed rate per annum	18.00%
Last out term loan
Debt Instrument [Line Items]
Effective interest rate				25.53%	25.38%
Last out term loan | London Interbank Offered Rate (LIBOR)
Debt Instrument [Line Items]
Basis spread on variable rate				14.00%
Basis spread on variable rate, cash portion				5.50%
Last out term loan | Prime Rate
Debt Instrument [Line Items]
Basis spread on variable rate				13.00%
Basis spread on variable rate, cash portion				4.50%
Basis spread on variable rate, paid-in kind portion				8.50%
Last out term loan | Amended Credit Agreement | Subsequent Event
Debt Instrument [Line Items]
Basis spread on variable rate, cash portion	7.50%
Basis spread on variable rate, paid-in kind portion	8.00%
Fixed rate per annum	15.50%
B. Riley Financial, Inc. | Amended Credit Agreement
Debt Instrument [Line Items]
Proceeds from related party		$ 10,000,000
B. Riley Financial, Inc. | Amended Credit Agreement | Subsequent Event
Debt Instrument [Line Items]
Proceeds from related party	$ 150,000,000
Line of Credit | Last out term loan
Debt Instrument [Line Items]
Proceeds				$ 40,000,000	$ 30,000,000
Discount and fees				5,111,000	5,111,000
Paid-in-kind interest				1,306,000	132,000
Principal				46,417,000	35,243,000
Unamortized debt discount and financing fees				(4,004,000)	(4,594,000)
Total last out loan, net				$ 42,413,000	$ 30,649,000

EQUITIZATION TRANSACTIONS - S_2

EQUITIZATION TRANSACTIONS - SUBSEQUENT EVENTS (Details) $ / shares in Units, $ in Millions	Apr. 05, 2019USD ($)individual$ / sharesshares	Apr. 30, 2018USD ($)	Mar. 31, 2019shares	Dec. 31, 2018shares	Apr. 10, 2018$ / sharesshares	Mar. 19, 2018shares	Mar. 15, 2018$ / shares
Subsequent Event [Line Items]
Proceeds from rights offering | $		$ 248.4
Exercise price per right (in dollars per share) | $ / shares					$ 2		$ 3
Number of shares issued per right (in shares)					2.8	1.4
Common stock, authorized (in shares)			200,000,000	200,000,000
B. Riley Financial, Inc. and Vintage | Subsequent Event
Subsequent Event [Line Items]
Exercise price per right (in dollars per share) | $ / shares	$ 0.01
Number of shares issued per right (in shares)	16,667,667
B. Riley Financial, Inc. and Vintage | Amended Credit Agreement | Subsequent Event
Subsequent Event [Line Items]
Proceeds from rights offering | $	$ 50
Exercise price per right (in dollars per share) | $ / shares	$ 0.30
Number of shares issued per right (in shares)	16,666,667
Common stock, authorized (in shares)	500,000,000
Number of individuals to serve on the Company's board of directors | individual	3

SECOND LIEN TERM LOAN FACILITY

SECOND LIEN TERM LOAN FACILITY - Interest Expense (Details) - USD ($)	May 04, 2018	Mar. 31, 2019	Jun. 30, 2018	Mar. 31, 2018	Dec. 13, 2017	Aug. 09, 2017
Debt Instrument [Line Items]
Loss on debt extinguishment			$ 49,200,000
Unamortized debt discount	$ 32,500,000
Make whole interest	16,200,000
Fees associated with debt extinguishment	500,000
Second Lien Term Loan Facility
Debt Instrument [Line Items]
Current borrowing capacity						$ 175,900,000
Term loan facility, additional borrowings					$ 20,000,000
Repayments of lines of credit	212,600,000
Accreted interest expense on our Second Lien Term Loan Facility	$ 2,300,000	$ 0		$ 2,369,000

2018 RIGHTS OFFERING (Details)

2018 RIGHTS OFFERING (Details) - USD ($) $ / shares in Units, $ in Thousands	May 04, 2018	Apr. 30, 2018	Mar. 31, 2019	Mar. 31, 2018	Apr. 10, 2018	Mar. 19, 2018	Mar. 15, 2018
Class of Warrant or Right [Line Items]
Number of shares issued per right (in shares)					2.8	1.4
Exercise price per right (in dollars per share)					$ 2		$ 3
Shares issued during rights offering (in shares)		124,300,000
Proceeds from rights offering		$ 248,400
Costs related to rights offering		3,300
Second Lien Term Loan Facility
Class of Warrant or Right [Line Items]
Extinguishment of debt, amount		$ 214,900
Accreted interest expense on our Second Lien Term Loan Facility	$ 2,300		$ 0	$ 2,369

CONTINGENCIES - Narrative (Deta

CONTINGENCIES - Narrative (Details) $ in Millions	Apr. 17, 2019USD ($)	Apr. 16, 2019USD ($)	Mar. 31, 2019USD ($)	Feb. 22, 2018lawsuit	Mar. 13, 2017complaint
Loss Contingencies [Line Items]
Number of complaints				3	2
Insurance settlement receivable			$ 15.5
Subsequent Event
Loss Contingencies [Line Items]
Payment to plaintiffs		$ 19.5
Insurance settlement receivable		$ 19.5
Subsequent Event | Pending Litigation
Loss Contingencies [Line Items]
Attorneys' fees	$ 1

FAIR VALUE MEASUREMENTS - Summa

FAIR VALUE MEASUREMENTS - Summary of Available-for-Sale Securities Measured at Fair Value (Details) - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total fair value of available-for-sale securities	$ 20,504	$ 15,748
Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total fair value of available-for-sale securities	19,221	14,465
Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total fair value of available-for-sale securities	1,283	1,283
Level 2 | Foreign exchange contracts
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Forward contracts to purchase/sell foreign currencies	0	546
Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total fair value of available-for-sale securities	0	0
Commercial paper
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total fair value of available-for-sale securities	16,838	13,028
Commercial paper | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total fair value of available-for-sale securities	16,838	13,028
Commercial paper | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total fair value of available-for-sale securities	0
Commercial paper | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total fair value of available-for-sale securities	0	0
Mutual funds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total fair value of available-for-sale securities	1,283	1,283
Mutual funds | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total fair value of available-for-sale securities	0	0
Mutual funds | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total fair value of available-for-sale securities	1,283	1,283
Mutual funds | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total fair value of available-for-sale securities	0	0
United States Government and agency securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total fair value of available-for-sale securities	2,383	1,437
United States Government and agency securities | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total fair value of available-for-sale securities	2,383	1,437
United States Government and agency securities | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total fair value of available-for-sale securities	0	0
United States Government and agency securities | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total fair value of available-for-sale securities	$ 0	$ 0

FAIR VALUE MEASUREMENTS - Narra

FAIR VALUE MEASUREMENTS - Narrative (Details)	Mar. 31, 2019
Minimum
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available for sale securities contractual maturities	0 years
Maximum
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available for sale securities contractual maturities	6 years

SUPPLEMENTAL CASH FLOW AND IN_3

SUPPLEMENTAL CASH FLOW AND INTEREST INFORMATION (Details) - USD ($) $ in Thousands	May 04, 2018	Mar. 31, 2019	Mar. 31, 2018
Debt Instrument [Line Items]
Accrued capital expenditures in accounts payable		$ 24	$ 300
Income tax payments (refunds), net		(78)	1,822
Interest expense on borrowings		5,123	7,748
Amortization of deferred origination fees, net		5,860	5,570
Other interest expense		151	134
Total interest expense		11,134	13,452
U.S. Revolving Credit Facility
Debt Instrument [Line Items]
Interest payments		2,403	1,687
Interest expense on borrowings		3,550	2,345
Amortization of deferred origination fees, net		5,270	3,201
Last Out Term Loans - cash interest
Debt Instrument [Line Items]
Interest payments		540	0
Interest expense on borrowings		513	0
Amortization of deferred origination fees, net		590	0
Second Lien Term Loan Facility
Debt Instrument [Line Items]
Interest payments		0	5,303
Interest expense on borrowings		0	5,269
Amortization of deferred origination fees, net		0	2,369
Last Out Term Loans - paid-in-kind interest
Debt Instrument [Line Items]
Interest expense on borrowings		1,060	0
Foreign revolving credit facilities
Debt Instrument [Line Items]
Interest expense on borrowings		0	134
Second Lien Term Loan Facility
Debt Instrument [Line Items]
Accreted interest expense on our Second Lien Term Loan Facility	$ 2,300	$ 0	$ 2,369

SUPPLEMENTAL CASH FLOW AND IN_4

SUPPLEMENTAL CASH FLOW AND INTEREST INFORMATION - Cash, Cash Equivalents and Restricted Cash (Details) - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018	Mar. 31, 2018	Dec. 31, 2017
Cash and Cash Equivalents [Line Items]
Cash and cash equivalents of continuing operations	$ 43,527	$ 43,214	$ 23,153	$ 43,717
Restricted cash and cash equivalents	6,959	17,065	49,686	25,980
Total cash, cash equivalents and restricted cash of continuing operations shown in the Condensed Consolidated Statements of Cash Flows	50,486	60,279	72,839	69,697
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Disposal Group, Including Discontinued Operations	0	0	14,229	12,950
Held by foreign entities
Cash and Cash Equivalents [Line Items]
Cash and cash equivalents of continuing operations	26,746	35,522	23,077	42,490
Held by United States entities
Cash and Cash Equivalents [Line Items]
Cash and cash equivalents of continuing operations	16,781	7,692	76	1,227
Reinsurance reserve requirements
Cash and Cash Equivalents [Line Items]
Restricted cash and cash equivalents	2,841	11,768	22,445	21,061
Restricted foreign accounts
Cash and Cash Equivalents [Line Items]
Restricted cash and cash equivalents	4,118	5,297	6,975	4,919
Sale proceeds held in escrow
Cash and Cash Equivalents [Line Items]
Restricted cash and cash equivalents	$ 0	$ 0	$ 20,266	$ 0

RELATED PARTY TRANSACTIONS - Na

RELATED PARTY TRANSACTIONS - Narrative (Details) - USD ($) $ / shares in Units, shares in Millions	Apr. 05, 2019	Mar. 20, 2019	Nov. 19, 2018	Apr. 30, 2018	Apr. 10, 2018	Dec. 31, 2018	Mar. 31, 2019	May 31, 2018
Related Party Transaction [Line Items]
Proceeds from rights offering				$ 248,400,000
BPRI Executive Consulting, LLC | Stock Appreciation Rights
Related Party Transaction [Line Items]
Stock appreciation rights granted (in shares)						8.4
Expiration period						10 years
Award vesting percentage						100.00%
Exercise period						10 days
Share price (in dollars per share)						$ 2
Vintage Capital Management, LLC
Related Party Transaction [Line Items]
Proceeds from rights offering					$ 245,000,000
Babcock & Wilcox Enterprises, Inc. | B. Riley Financial, Inc.
Related Party Transaction [Line Items]
Ownership interest								5.00%
Babcock & Wilcox Enterprises, Inc. | B. Riley Capital Management, LLC
Related Party Transaction [Line Items]
Ownership percent of common stock							6.46%
Babcock & Wilcox Enterprises, Inc. | Vintage Capital Management, LLC
Related Party Transaction [Line Items]
Ownership percent of common stock							14.85%
Financial advisory services | BPRI Executive Consulting, LLC
Related Party Transaction [Line Items]
Related party payments			$ 750,000
Amended Credit Agreement | B. Riley Financial, Inc.
Related Party Transaction [Line Items]
Proceeds from related party		$ 10,000,000
Amended Credit Agreement | Subsequent Event | B. Riley Financial, Inc.
Related Party Transaction [Line Items]
Proceeds from related party	$ 150,000,000
Share-based Compensation Award, Tranche One | BPRI Executive Consulting, LLC | Stock Appreciation Rights
Related Party Transaction [Line Items]
Share price (in dollars per share)						$ 2.25
Stock appreciation rights (in shares)						5.1
Share-based Compensation Award, Tranche Two | BPRI Executive Consulting, LLC | Stock Appreciation Rights
Related Party Transaction [Line Items]
Share price (in dollars per share)						$ 2.5
Stock appreciation rights (in shares)						3.3

NEW ACCOUNTING STANDARDS - Narr

NEW ACCOUNTING STANDARDS - Narrative (Details) - USD ($) $ in Thousands	Mar. 31, 2019	Jan. 01, 2019
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Right-of-use assets	$ 15,067
Impact on liabilities	$ 14,871
ASU 2016-02
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Right-of-use assets		$ 15,000
Impact on liabilities		$ 15,000

Uncategorized Items - bw-201903

Label	Element	Value
Accounting Standards Update 2014-09 [Member]
Cumulative Effect of New Accounting Principle in Period of Adoption	us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption	$ (472,000)
Accounting Standards Update 2014-09 [Member] | Retained Earnings [Member]
Cumulative Effect of New Accounting Principle in Period of Adoption	us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption	$ (472,000)