Babcock & Wilcox Enterprises, I (BW) 10-Q 13 Nov 20 2020 Q3 Quarterly report Financial data

Cover

Cover - shares	9 Months Ended
	Sep. 30, 2020	Nov. 06, 2020
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Sep. 30, 2020
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q3
Entity Registrant Name	Babcock & Wilcox Enterprises, Inc.
Entity Central Index Key	0001630805
Current Fiscal Year End Date	--12-31
Entity Filer Category	Non-accelerated Filer
Common Stock (in shares)		52,009,498
Entity Emerging Growth Company	false
Entity Small Business	true
Entity Interactive Data, Current	Yes
Entity Current Reporting Status	Yes
Entity Shell Company	false

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Income Statement [Abstract]
Revenues	$ 132,513	$ 198,644	$ 416,464	$ 678,695
Costs and expenses:
Cost of operations	75,156	158,273	292,691	563,171
Selling, general and administrative expenses	35,689	35,956	107,876	120,431
Advisory fees and settlement costs	3,846	4,474	10,074	22,862
Restructuring activities	2,396	2,556	6,739	9,571
Research and development costs	1,355	828	3,927	2,281
Gain on asset disposals, net	(3)	(266)	(916)	(224)
Total costs and expenses	118,439	201,821	420,391	718,092
Operating income (loss)	14,074	(3,177)	(3,927)	(39,397)
Other (expense) income:
Interest expense	(12,203)	(29,463)	(49,776)	(67,434)
Interest income	167	112	430	872
Loss on debt extinguishment	0	0	(6,194)	(3,969)
Loss on sale of business	0	0	(108)	(3,601)
Benefit plans, net	7,328	3,571	22,314	9,072
Foreign exchange	24,963	(26,735)	22,749	(27,382)
Other – net	(276)	(255)	(3,068)	208
Total other income (expense)	19,979	(52,770)	(13,653)	(92,234)
Income (loss) before income tax (benefit) expense	34,053	(55,947)	(17,580)	(131,631)
Income tax (benefit) expense	(502)	1,043	(467)	3,560
Income (loss) from continuing operations	34,555	(56,990)	(17,113)	(135,191)
Income from discontinued operations, net of tax	0	0	1,800	694
Net income (loss)	34,555	(56,990)	(15,313)	(134,497)
Net loss attributable to non-controlling interest	169	35	407	137
Net income (loss) attributable to stockholders	$ 34,724	$ (56,955)	$ (14,906)	$ (134,360)
Basic earnings (loss) per share - continuing operations (in dollars per share)	$ 0.70	$ (1.39)	$ (0.35)	$ (5.21)
Basic earnings per share - discontinued operations (in dollars per share)	0	0	0.04	0.03
Basic earnings (loss) per share (in dollars per share)	0.70	(1.39)	(0.31)	(5.18)
Diluted earnings (loss) per share - continuing operations (in dollars per share)	0.69	(1.39)	(0.35)	(5.21)
Diluted earnings per share - discontinued operations (in dollars per share)	0	0	0.04	0.03
Diluted earnings (loss) per share (in dollars per share)	$ 0.69	$ (1.39)	$ (0.31)	$ (5.18)
Shares used in the computation of earnings (loss) per share:
Basic (in shares)	49,478	40,879	47,585	25,950
Diluted (in shares)	50,056	40,879	47,585	25,950

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Statement of Comprehensive Income [Abstract]
Net income (loss)	$ 34,555	$ (56,990)	$ (15,313)	$ (134,497)
Other comprehensive income (loss):
Currency translation adjustments (CTA)	(22,916)	21,433	(24,631)	23,714
Reclassification of CTA to net loss	0	0	0	3,176
Derivative financial instruments:
Unrealized losses on derivative financial instruments	0	0	0	(1,367)
Derivative financial instrument (losses) gains reclassified into net loss	0	0	0	202
Derivative financial instruments reclassified to advanced billings on contracts	0	(197)	0	(197)
Benefit obligations:
Amortization of benefit plan benefits	(246)	(515)	(738)	(1,385)
Other comprehensive (loss) income	(23,162)	20,721	(25,369)	24,143
Total comprehensive loss	11,393	(36,269)	(40,682)	(110,354)
Comprehensive (loss) income attributable to non-controlling interest	175	(88)	434	341
Comprehensive income (loss) attributable to stockholders	$ 11,568	$ (36,357)	$ (40,248)	$ (110,013)

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Statement of Financial Position [Abstract]
Cash and cash equivalents	$ 38,934	$ 43,772
Restricted cash and cash equivalents	9,435	13,169
Accounts receivable – trade, net	126,841	142,201
Accounts receivable – other	52,137	23,263
Contracts in progress	73,882	91,579
Inventories	66,966	63,103
Other current assets	20,554	27,044
Current assets held for sale	4,816	8,089
Total current assets	393,565	412,220
Net property, plant and equipment, and finance lease	88,645	97,053
Goodwill	47,136	47,160
Intangible assets	23,691	25,300
Right-of-use assets	10,272	12,498
Other assets	34,902	24,966
Non-current assets held for sale	7,543	7,322
Total assets	605,754	626,519
Revolving credit facilities	0	179,000
Last out term loans	0	103,953
Financing lease liabilities	852	(38)
Accounts payable	79,983	109,913
Accrued employee benefits	17,365	18,256
Advance billings on contracts	54,046	75,287
Accrued warranty expense	26,803	33,376
Operating lease liabilities	3,968	4,323
Other accrued liabilities	86,772	68,848
Current liabilities held for sale	6,925	9,538
Total current liabilities	276,714	602,494
Revolving credit facilities	181,900	0
Last out term loans	173,330	0
Pension and other accumulated postretirement benefit liabilities	236,372	259,272
Non-current finance lease liabilities	29,917	30,454
Non-current operating lease liabilities	6,381	8,388
Other non-current liabilities	21,918	20,850
Total liabilities	926,532	921,458
Commitments and contingencies
Stockholders' deficit:
Common stock, par value $0.01 per share, authorized shares of 500,000; issued and outstanding shares of 52,006 and 46,374 at September 30, 2020 and December 31, 2019, respectively	4,760	4,699
Capital in excess of par value	1,157,811	1,142,614
Treasury stock at cost, 716 and 616 shares at September 30, 2020 and December 31, 2019, respectively	(105,985)	(105,707)
Accumulated deficit	(1,354,794)	(1,339,888)
Accumulated other comprehensive income (loss)	(23,443)	1,926
Stockholders' deficit attributable to shareholders	(321,651)	(296,356)
Non-controlling interest	873	1,417
Total stockholders' deficit	(320,778)	(294,939)
Total liabilities and stockholders' deficit	$ 605,754	$ 626,519

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Sep. 30, 2020	Dec. 31, 2019
Statement of Financial Position [Abstract]
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, authorized (in shares)	500,000,000	500,000,000
Common stock, issued (in shares)	52,006,000	46,374,000
Common stock, outstanding (in shares)	52,006,000	46,374,000
Treasury stock, at cost (in shares)	716,000	616,000

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENT OF STOCKHOLDERS' (DEFICIT) EQUITY - USD ($) $ in Thousands		Total	Common Stock	Capital In Excess of Par Value	Treasury Stock	Accumulated Deficit	Accumulated Other Comprehensive Income (Loss)	Noncontrolling Interest
Beginning balance (in shares) at Dec. 31, 2018	[1]		16,879,000
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		10,239					10,260	(21)
Derivative financial instruments		(954)					(954)
Defined benefit obligations		(356)					(356)
Stock-based compensation charges (in shares)	[1]		7,000
Stock-based compensation charges		382		404	(22)
Ending balance (in shares) at Mar. 31, 2019	[1]		16,886,000
Stockholders' equity, ending balance at Mar. 31, 2019		(317,852)	$ 1,748	1,047,466	(105,612)	(1,267,679)	(2,482)	8,707
Beginning balance (in shares) at Dec. 31, 2018	[1]		16,879,000
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		(134,497)
Ending balance (in shares) at Sep. 30, 2019	[1]		46,341,000
Stockholders' equity, ending balance at Sep. 30, 2019		(290,077)	$ 4,694	1,142,208	(105,634)	(1,352,274)	12,711	8,218
Beginning balance (in shares) at Mar. 31, 2019	[1]		16,886,000
Stockholders' equity, beginning balance at Mar. 31, 2019		(317,852)	$ 1,748	1,047,466	(105,612)	(1,267,679)	(2,482)	8,707
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss		(27,641)				(27,640)		(1)
Currency translation adjustments		(5,109)					(4,803)	(306)
Derivative financial instruments		(211)					(211)
Defined benefit obligations		(514)					(514)
Stock-based compensation charges (in shares)	[1]		2,000
Stock-based compensation charges		204		205	(1)
Conversions of stock		2,022		2,022
Warrants		6,066		6,066
Ending balance (in shares) at Jun. 30, 2019	[1]		16,888,000
Stockholders' equity, ending balance at Jun. 30, 2019		(343,035)	$ 1,748	1,055,759	(105,613)	(1,295,319)	(8,010)	8,400
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss		(56,990)				(56,955)		(35)
Currency translation adjustments		21,556					21,433	123
Derivative financial instruments		(197)					(197)
Defined benefit obligations		(515)					(515)
Stock-based compensation charges (in shares)	[1]		66,000
Stock-based compensation charges		1,211	$ 7	1,225	(21)
Rights Offering (in shares)	[1]		13,922,000
Rights Offering		41,768	$ 1,392	40,376
Last Out Term Loan principal value exchanged for common stock (in shares)	[1]		15,465,000
Conversions of stock		46,395	$ 1,547	44,848
Dividends to non-controlling interest		(270)						(270)
Ending balance (in shares) at Sep. 30, 2019	[1]		46,341,000
Stockholders' equity, ending balance at Sep. 30, 2019		$ (290,077)	$ 4,694	1,142,208	(105,634)	(1,352,274)	12,711	8,218
Beginning balance (in shares) at Dec. 31, 2019		46,374,000	46,374,000
Stockholders' equity, beginning balance at Dec. 31, 2019		$ (294,939)	$ 4,699	1,142,614	(105,707)	(1,339,888)	1,926	1,417
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss		(31,622)				(31,526)		(96)
Currency translation adjustments		2,322					2,380	(58)
Defined benefit obligations		(246)					(246)
Stock-based compensation charges (in shares)			33,000
Stock-based compensation charges		871	$ 4	876	(9)
Dividends to non-controlling interest		(36)						(36)
Ending balance (in shares) at Mar. 31, 2020			46,407,000
Stockholders' equity, ending balance at Mar. 31, 2020		$ (323,650)	$ 4,703	1,143,490	(105,716)	(1,371,414)	4,060	1,227
Beginning balance (in shares) at Dec. 31, 2019		46,374,000	46,374,000
Stockholders' equity, beginning balance at Dec. 31, 2019		$ (294,939)	$ 4,699	1,142,614	(105,707)	(1,339,888)	1,926	1,417
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss		$ (15,313)
Ending balance (in shares) at Sep. 30, 2020		52,006,000	52,006,000
Stockholders' equity, ending balance at Sep. 30, 2020		$ (320,778)	$ 4,760	1,157,811	(105,985)	(1,354,794)	(23,443)	873
Beginning balance (in shares) at Mar. 31, 2020			46,407,000
Stockholders' equity, beginning balance at Mar. 31, 2020		(323,650)	$ 4,703	1,143,490	(105,716)	(1,371,414)	4,060	1,227
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss		(18,246)				(18,104)		(142)
Currency translation adjustments		(4,058)					(4,095)	37
Defined benefit obligations		(246)					(246)
Stock-based compensation charges		922		923	(1)
Equitized guarantee fee payment (in shares)			1,713,000
Equitized guarantee fee payment		3,900	$ 17	3,883
Equitized Last Out Term Loan interest payment (in shares)			1,192,000
Equitized Last Out Term Loan interest payment		2,715	$ 12	2,703
Dividends to non-controlling interest		(37)						(37)
Ending balance (in shares) at Jun. 30, 2020			49,312,000
Stockholders' equity, ending balance at Jun. 30, 2020		(338,700)	$ 4,732	1,150,999	(105,717)	(1,389,518)	(281)	1,085
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss		34,555				34,724		(169)
Currency translation adjustments		(22,922)					(22,916)	(6)
Defined benefit obligations		(246)					(246)
Stock-based compensation charges (in shares)			360,000
Stock-based compensation charges		1,256	$ 4	1,520	(268)
Equitized Last Out Term Loan interest payment (in shares)			2,334,000
Equitized Last Out Term Loan interest payment		5,316	$ 24	5,292
Dividends to non-controlling interest		$ (37)						(37)
Ending balance (in shares) at Sep. 30, 2020		52,006,000	52,006,000
Stockholders' equity, ending balance at Sep. 30, 2020		$ (320,778)	$ 4,760	$ 1,157,811	$ (105,985)	$ (1,354,794)	$ (23,443)	$ 873
[1]	Common stock shares reflect the one-for-ten reverse stock split on July 24, 2019.

CONDENSED CONSOLIDATED STATEM_4

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Cash flows from operating activities:
Net loss	$ (15,313)	$ (134,497)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:
Depreciation and amortization of long-lived assets	12,296	19,123
Amortization of deferred financing costs, debt discount and payment-in-kind interest	16,013	42,185
Amortization of guaranty fee	698	0
Non-cash operating lease expense	3,600	4,134
Loss on sale of business	108	3,601
Loss on debt extinguishment	6,194	3,969
(Gains) losses on asset disposals and impairments	(916)	(224)
Benefit from deferred income taxes, including valuation allowances	(788)	(722)
Mark to market gains and prior service cost amortization for pension and postretirement plans	(738)	(107)
Stock-based compensation, net of associated income taxes	3,327	1,841
Equitized non-cash interest expense	8,031	0
Changes in assets and liabilities:
Accounts receivable	28,577	41,274
Accrued insurance receivable	(26,000)	0
Contracts in progress	21,633	23,106
Advance billings on contracts	(23,161)	(68,109)
Inventories	(4,865)	(6,571)
Income taxes	(4,820)	1,620
Accounts payable	(33,450)	(71,284)
Accrued and other current liabilities	13,793	(21,097)
Accrued contract loss	(5,294)	(49,820)
Pension liabilities, accrued postretirement benefits and employee benefits	(25,922)	(5,750)
Other, net	(40,299)	16,211
Net cash used in operating activities	(67,296)	(201,117)
Cash flows from investing activities:
Purchase of property, plant and equipment	(2,274)	(1,634)
Proceeds from sale of business	8,000	7,445
Purchases of available-for-sale securities	(19,149)	(3,469)
Sales and maturities of available-for-sale securities	14,597	5,132
Other, net	784	(382)
Net cash from investing activities	1,958	7,092
Cash flows from financing activities:
Shares of our common stock returned to treasury stock	(278)	(44)
Proceeds from rights offering	0	40,376
Costs related to rights offering	0	(682)
Debt issuance costs	(10,343)	(15,509)
Issuance of common stock	0	1,392
Other, net	98	(270)
Net cash from financing activities	52,377	181,042
Effects of exchange rate changes on cash	4,389	(3,951)
Net decrease in cash, cash equivalents and restricted cash	(8,572)	(16,934)
Cash, cash equivalents and restricted cash, beginning of period	56,941	60,279
Cash, cash equivalents and restricted cash, end of period	48,369	43,345
U.S. Revolving Credit Facility
Cash flows from financing activities:
Borrowings under credit facilities	126,300	251,917
Repayments of lines of credit	(123,400)	(205,117)
Last Out Term Loans
Cash flows from financing activities:
Borrowings under credit facilities	60,000	151,350
Repayments of lines of credit	0	(41,766)
Foreign Revolvers
Cash flows from financing activities:
Repayments of lines of credit	$ 0	$ (605)

BASIS OF PRESENTATION

BASIS OF PRESENTATION	9 Months Ended
	Sep. 30, 2020
Accounting Policies [Abstract]
BASIS OF PRESENTATION	BASIS OF PRESENTATION These interim Condensed Consolidated Financial Statements of Babcock & Wilcox Enterprises, Inc. (“B&W,” “management,” “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. 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 are prepared in accordance with generally accepted accounting principles applicable to a going concern, which contemplates the realization of assets and the satisfaction of liabilities in the normal course of business. As of December 31, 2019 and March 30, 2020, the date we issued our 2019 Consolidated Financial Statements, we were in compliance with the terms of the agreements governing our debt and no events of default existed. However, the Company’s uncertainty regarding liquidity and the ability to refinance our credit agreement by May 11, 2020 represented conditions and events that raised substantial doubt about the Company’s ability to continue as a going concern within one year after the date that the 2019 Consolidated Financial Statements were issued, as we were not able to assert that it was probable that our plans when fully implemented would alleviate the events and conditions. However, more fully explained in Note 13 and Note 14 below, on May 14, 2020, among other things, the Company refinanced and extended the term of its revolving credit facility (the "U.S. Revolving Credit Facility") to June 30, 2022 and our last out term loans (the "Last Out Term Loans") to December 30, 2022. Additionally, as described below, the Company took other actions all of which reduced the substantial doubt of the Company’s ability to be considered a going concern. Since January 1, 2020 and through the issuance of our 2019 Consolidated Financial Statements on March 30, 2020, we took the following actions, among others, and have successfully implemented, or are in the process of implementing the following: • entered into several amendments and waivers to avoid default and improve our liquidity under the terms of our credit agreement as described in Note 13 and Note 14 , the most recent of which were Amendments No. 19, No. 20 and No. 21 dated January 17, 2020, January 31, 2020 and March 27, 2020, respectively; • on January 31, 2020, received $30.0 million of additional gross borrowings from B. Riley Financial, Inc. (together with its affiliates, "B. Riley") under a new Tranche A-4 of Last Out Term Loans, as described in in Note 14 ; • on January 31, 2020, received an incremental Tranche A-5 of Last Out Term Loan commitment to be used in the event certain customer letters of credit are drawn, as described in Note 14 ; • on March 12, 2020, filed for waiver of required minimum contributions to the U.S. Pension Plan as described in Note 12 and subsequently on October 1, 2020 received a letter from the Internal Revenue Service (the "IRS") that the 2019 waiver request had been approved subject to certain conditions; and • on March 17, 2020, we fully settled the remaining escrow associated with the sale of Palm Beach Resource Recovery Corporation ("PBRRC") and received $4.5 million in cash. In addition to the actions taken above, subsequent to March 30, 2020 we have taken the following actions: • on April 6, 2020, we fully settled the remaining escrow associated with the sale of the MEGTEC and Universal businesses and received $3.5 million in cash; • on May 14, 2020, the Company entered into an agreement amending and restating our credit agreement with Bank of America, N.A., as administrative agent (the "Administrative Agent") and lender, and the other lenders party thereto. These amendments to the credit agreement, as amended and restated (the “A&R Credit Agreement”), among other amendments, extend the maturity date on the U.S. Revolving Credit Facility to June 30, 2022 and the maturity date on the Last Out Term Loans to December 30, 2022. Under the A&R Credit Agreement, B. Riley has committed to provide the Company with up to $70.0 million of additional Last Out Term Loans. B. Riley has entered into a limited guaranty (the "B. Riley Guaranty") which provides for the guarantee of all of the Company's obligations with respect to the U.S. Revolving Credit Facility (other than with respect to letters of credit and contingent obligations thereunder), including the obligation to repay outstanding revolving credit loans and pay earned interest and fees. For more information regarding the A&R Credit Agreement and the additional Last Out Term Loans being provided by B. Riley, see Note 13 and Note 14 ; • on May 14, 2020, we received $30.0 million of additional gross borrowings from B. Riley under a new Tranche A- 6 of Last Out Term Loans, as described in Note 14 ; • on October 10, 2020, we entered into a settlement agreement with an insurer in connection with five of the six European B&W Renewable EPC loss contracts. In connection with the insured losses recognized in prior years, we recognized this non-recurring loss recovery of $26.0 million as a reduction of our Cost of operation s in our Condensed Consolidated Statements of Operations and recorded the insurance receivable in Accounts receivable - other in our Condensed Consolidated Balance Sheets for the quarter ending September 30, 2020 as we determined the loss recovery was probable. On October 23, 2020, we received gross proceeds of $26.0 million for the loss recovery recognized during the third quarter ending September 30, 2020, as described in Note 4 ; and • on October 30, 2020, we entered into Amendment No. 1 to our Amended and Restated Credit Agreement (the “A&R Amendment No. 1”) with Bank of America, N.A. A&R Amendment No. 1, among other matters, (i) provides that, under the A&R Credit Agreement, the "Commitment Reduction Amount" shall be an amount equal to (a) for any "Prepayment Event" relating to a "Recovery Event" (each as defined under the A&R Credit Agreement), 50% of the net cash proceeds with respect to such Prepayment Event, and (b) with respect to any other Prepayment Event under the A&R Credit Agreement, the net cash proceeds with respect to such Prepayment Event, and (ii) establishes new financial covenants for (i) interest coverage ratios beginning with a ratio of 0.50 : 1.00 for the quarter ending December 31, 2020 and up to 1.25 : 1.00 for the quarter ending March 31, 2022 and the last day of each fiscal quarter ending thereafter and (ii) senior leverage ratios beginning with 7.75 : 1.00 for the quarter ending December 31, 2020 and down to 2.25 : 1.00 for the quarter ending March 31, 2022 and the last day of each fiscal quarter ending thereafter. In December 2019, a novel strain of coronavirus, COVID-19, was identified in Wuhan, China and has subsequently spread globally. This global pandemic has disrupted business operations, trade, commerce, financial and credit markets, and daily life throughout the world. Our business has been, and continues to be, adversely impacted by the measures taken and restrictions imposed in the countries in which we operate and by local governments and others to control the spread of this virus. These measures and restrictions have varied widely and have been subject to significant changes from time to time depending on the changes in the severity of the virus in these countries and localities. These restrictions, including travel and curtailment of other activity, negatively impact our ability to conduct business. Although some of these restrictions have been lifted or scaled back, a recent resurgence of COVID-19 has resulted in the reimposition of certain restrictions and may lead to other restrictions being implemented in response to efforts to reduce the spread of the virus. These varying and changing events have caused many of the projects we anticipated to begin in 2020 to be delayed to later in 2020 and others to be delayed further into 2021 and 2022. Many customers and projects require B&W's employees to travel to customer and project worksites. Certain customers and significant projects are located in areas where travel restrictions have been imposed, certain customers have closed or reduced on-site activities, and timelines for completion of certain projects have, as noted above, been extended into next year and beyond. Additionally, out of concern for our employees, even where restrictions permit employees to return to our offices and worksites, we have advised those who are uncomfortable returning to worksites due to the pandemic that they are not required to do so for an indefinite period of time. The resulting uncertainty concerning, among other things, the spread and economic impact of the virus has also caused significant volatility and, at times, illiquidity in global equity and credit markets. Beginning in April 2020, as part of the Company’s response to the impact of the COVID-19 pandemic on its business, the Company has taken a number of cash conservation and cost reduction measures which include: • temporary unpaid furloughs of certain employees: • temporarily deferring the monthly fee paid to BRPI Executive Consulting, LLC for the services of our Chief Executive Officer by 50% ; • deferrals of the base salaries of our Chief Strategy Officer by 50% , Chief Financial Officer by 30% and our Senior Vice President of The Babcock & Wilcox Company by 30% ; • suspension of our 401(k) company match for U.S. employees for the remainder of 2020; • approval by the Company’s Board for a temporary deferral of 50% of the cash compensation payable to non-employee directors under the Company’s board compensation program to be paid during the first quarter of 2021; • temporary rent payment deferrals related to leased facilities located in the U.S., Canada, Italy and Denmark; • utilizing options for government loans and programs in the U.S. and abroad that are appropriate and available; and • deferring, in accordance with the Coronavirus Aid, Relief, and Economic Security Act (the "CARES Act") signed into law in March 2020, the Pension Plan contribution payments of $5.5 million each for the 2020 Plan year that would have been made on April 15, 2020, July 15, 2020 and October 15, 2020, respectively. In addition, we elected to defer the contribution payments of $1.1 million for the 2018 Plan year and $23.7 million for the 2019 Plan year that were both due on September 15, 2020. Per the 2019 Plan year waiver received on October 1, 2020, the $23.7 million deferred for the 2019 Plan year will now be funded over the next five years . Based upon the terms of the A&R Credit Agreement and the cash conservation and cost reduction measures taken to date, the Company is projecting sufficient liquidity to fund future operations and to meet its obligations as they become due for at least one year following the date that these Condensed Consolidated Financial Statements are issued. As a result, the Company has concluded that conditions and events, considered in the aggregate, no longer raise substantial doubt about the entity’s ability to continue as a going concern.

EARNINGS PER SHARE

EARNINGS PER SHARE	9 Months Ended
	Sep. 30, 2020
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 non-controlling interest: Three months ended September 30, Nine months ended September 30, (in thousands, except per share amounts) 2020 2019 2020 2019 Income (loss) from continuing operations $ 34,724 $ (56,955 ) $ (16,706 ) $ (135,054 ) Income (loss) from discontinued operations, net of tax — — 1,800 694 Net income (loss) attributable to stockholders $ 34,724 $ (56,955 ) $ (14,906 ) $ (134,360 ) Weighted average shares used to calculate basic earnings (loss) per share (1) 49,478 40,879 47,585 25,950 Dilutive effect of stock options, restricted stock and performance units 578 — — — Weighted average shares used to calculate diluted earnings (loss) per share 50,056 40,879 47,585 25,950 Basic earnings (loss) per share Continuing operations $ 0.70 $ (1.39 ) $ (0.35 ) $ (5.21 ) Discontinued operations — — 0.04 0.03 Basic earnings (loss) per share $ 0.70 $ (1.39 ) $ (0.31 ) $ (5.18 ) Diluted earnings (loss) per share Continuing operations $ 0.69 $ (1.39 ) $ (0.35 ) $ (5.21 ) Discontinued operations — — 0.04 0.03 Diluted earnings (loss) per share $ 0.69 $ (1.39 ) $ (0.31 ) $ (5.18 ) (1) Weighted average shares used to calculate basic and diluted earnings (loss) per share reflect the bonus element for the 2019 Rights Offering on July 23, 2019 as described below and the one-for-ten reverse stock split on July 24, 2019 In July 2019, the Company completed a rights offering to existing common stockholders (the "2019 Rights Offering"). Because the rights issuance was offered to all existing stockholders at an exercise price that was less than the fair value of our Common Stock, as of such time, the weighted average shares outstanding and basic and diluted earnings (loss) per share were adjusted retroactively to reflect the bonus element of the rights offering for all periods presented by a factor of 1.0875 . Weighted average shares, prior to giving effect to the 2019 Rights Offering, in the three and nine months ended September 30, 2019 was 8,140 and 13,938 , respectively. Because we incurred a net loss in the nine months ended September 30, 2020 and in the three and nine months ended September 30, 2019 , basic and diluted shares are the same. If we had net income in the nine months ended September 30, 2020 , diluted shares would include an additional 422.3 thousand shares. If we had net income in the three and nine months ended September 30, 2019 , diluted shares would include an additional 141.3 thousand and 71.0 thousand shares, respectively. We excluded 1.3 million and 0.3 million shares related to stock options from the diluted share calculation for the nine months ended September 30, 2020 and 2019 , respectively, because their effect would have been anti-dilutive. We excluded 1.1 million and 0.3 million shares related to stock options from the diluted share calculation for the three months ended September 30, 2020 and 2019 , respectively, because their effect would have been anti-dilutive.

SEGMENT REPORTING

SEGMENT REPORTING	9 Months Ended
	Sep. 30, 2020
Segment Reporting [Abstract]
SEGMENT REPORTING	SEGMENT REPORTING Our operations are assessed based on three reportable segments which changed in 2020 as part of the Company's strategic, market-focused organizational and re-branding initiative to accelerate growth and provide stakeholders improved visibility into our renewable and environmental growth platforms. Segment results for all periods have been restated for comparative purposes. • B&W Renewable segment : cost-effective technologies for efficient and environmentally sustainable power and heat generation, including waste-to-energy, biomass energy and black liquor systems for the pulp and paper industry. The segment's leading technologies support a circular economy, diverting waste from landfills to use for power generation and replacing fossil fuels, while recovering metals and reducing emissions. • B&W Environmental segment : full suite of best-in-class emissions control and environmental technology solutions for utility and industrial steam generation applications around the world. The segment's broad experience includes systems for cooling, ash handling, particulate control, nitrogen oxides and sulfur dioxides removal, chemical looping for carbon control, and mercury control. • B&W Thermal segment : steam generation equipment, aftermarket parts, construction, maintenance and field services for plants in the power generation, oil and gas, and industrial sectors. The segment has an extensive global base of installed equipment for utilities and general industrial applications including refining, petrochemical, food processing, metals and others. Revenues exclude eliminations of revenues generated from sales to other segments or to other product lines within the segment. An analysis of our operations by segment is as follows: Three months ended September 30, Nine months ended September 30, (in thousands) 2020 2019 2020 2019 Revenues: B&W Renewable segment B&W Renewable $ 21,253 $ 22,981 $ 70,657 $ 70,487 Vølund 17,809 28,311 47,913 88,414 39,062 51,292 118,570 158,901 B&W Environmental segment B&W Environmental 11,841 31,187 35,289 165,273 SPIG 10,323 9,810 32,510 62,047 GMAB 3,098 4,039 8,555 7,165 25,262 45,036 76,354 234,485 B&W Thermal segment B&W Thermal 70,025 108,157 223,920 315,587 70,025 108,157 223,920 315,587 Eliminations (1,836 ) (5,841 ) (2,380 ) (30,278 ) $ 132,513 $ 198,644 $ 416,464 $ 678,695 The presentation of the components of our adjusted EBITDA in the table below is 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-off 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. Adjusted EBITDA for each segment is presented below with a reconciliation to net income (loss) attributable to stockholders. Three months ended September 30, Nine months ended September 30, (in thousands) 2020 2019 2020 2019 Adjusted EBITDA B&W Renewable segment $ 23,575 $ (615 ) $ 22,003 $ (4,185 ) B&W Environmental segment 1,078 1,771 (137 ) 2,453 B&W Thermal segment 7,255 12,871 22,676 34,994 Corporate (4,916 ) (3,059 ) (12,864 ) (16,973 ) Research and development costs (1,355 ) (828 ) (3,927 ) (2,281 ) 25,637 10,140 27,751 14,008 Restructuring activities (2,396 ) (2,556 ) (6,739 ) (9,571 ) Financial advisory services (1,650 ) (1,213 ) (3,161 ) (8,368 ) Settlement cost to exit B&W Renewable contract (1) — — — (6,575 ) Advisory fees for settlement costs and liquidity planning (1,387 ) (2,787 ) (5,156 ) (7,445 ) Litigation legal costs (809 ) (475 ) (1,757 ) (475 ) Stock compensation (1,175 ) (1,271 ) (3,074 ) (2,072 ) Loss from business held for sale (93 ) — (411 ) — Depreciation & amortization (4,056 ) (5,281 ) (12,296 ) (19,123 ) Gain on asset disposals, net 3 266 916 224 Operating income (loss) 14,074 (3,177 ) (3,927 ) (39,397 ) Interest expense, net (12,036 ) (29,351 ) (49,346 ) (66,562 ) Loss on debt extinguishment — — (6,194 ) (3,969 ) Loss on sale of business — — (108 ) (3,601 ) Net pension benefit before MTM 7,328 3,589 22,314 10,350 MTM loss from benefit plans — (18 ) — (1,278 ) Foreign exchange 24,963 (26,735 ) 22,749 (27,382 ) Other – net (276 ) (255 ) (3,068 ) 208 Total other income (expense) 19,979 (52,770 ) (13,653 ) (92,234 ) Income (loss) before income tax (benefit) expense 34,053 (55,947 ) (17,580 ) (131,631 ) Income tax (benefit) expense (502 ) 1,043 (467 ) 3,560 Income (loss) from continuing operations 34,555 (56,990 ) (17,113 ) (135,191 ) Income from discontinued operations, net of tax — — 1,800 694 Net income (loss) 34,555 (56,990 ) (15,313 ) (134,497 ) Net loss attributable to non-controlling interest 169 35 407 137 Net income (loss) attributable to stockholders $ 34,724 $ (56,955 ) $ (14,906 ) $ (134,360 ) (1) In March 2019, we entered into a settlement in connection with an additional B&W Renewable waste-to-energy EPC contract, for which notice to proceed was not given and the contract was not started. The settlement eliminated our obligations to act, and our risk related to acting, as the prime EPC should the project have moved 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	9 Months Ended
	Sep. 30, 2020
Revenue from Contract with Customer [Abstract]
REVENUE RECOGNITION AND CONTRACTS	REVENUE RECOGNITION AND CONTRACTS Revenue Recognition A performance obligation is a contractual promise to transfer a distinct good or service to the customer. A contract's transaction price is allocated to each distinct performance obligation and is recognized as revenue when (point in time) or as (over time) the performance obligation is satisfied. Revenue from goods and services transferred to customers at a point in time, which includes certain aftermarket parts and services primarily in the B&W Thermal segment , accounted for 34% and 25% for the three months ended September 30, 2020 and 2019, respectively and 32% and 20% of our revenue for the nine months ended September 30, 2020 and 2019, respectively. Revenue on these contracts is recognized when the customer obtains control of the asset, which is generally upon shipment or delivery and acceptance by the customer. Standard commercial payment terms generally apply to these sales. Revenue from products and services transferred to customers over time accounted for 66% and 75% of our revenue for the three months ended September 30, 2020 and 2019, respectively and 68% and 80% of our revenue for the nine months ended September 30, 2020 and 2019, respectively. Revenue recognized over time primarily relates to customized, engineered solutions and construction services from all three of our segments. Typically, revenue is recognized over time using the cost-to-cost input method that uses costs incurred to date relative to total estimated costs at completion to measure progress toward satisfying our performance obligations. Incurred cost represents work performed, which corresponds with, and thereby best depicts, the transfer of control to the customer. Contract costs include labor, material, overhead and, when appropriate, SG&A expenses. Variable consideration in these contracts includes estimates of liquidated damages, contractual bonuses and penalties, and contract modifications. Substantially all of our revenue recognized over time under the cost-to-cost input method contains a single performance obligation as the interdependent nature of the goods and services provided prevents them from being separately identifiable within the contract. Generally, we try to structure contract milestones to mirror our expected cash outflows over the course of the contract; however, the timing of milestone receipts can greatly affect our overall cash position and have in our B&W Renewable segment . Refer to Note 3 for our disaggregation of revenue by product line. As of September 30, 2020 , we have estimated the costs to complete all of our in-process contracts in order to estimate revenues using a cost-to-cost input method. However, it is possible that current estimates could change due to unforeseen events, which could result in adjustments to overall contract costs. The risk on fixed-priced contracts is that revenue from the customer does not cover increases in our costs. It is possible that current estimates could materially change for various reasons, including, but not limited to, fluctuations in forecasted labor productivity, transportation, fluctuations in foreign exchange rates or steel and other raw material prices. Increases in costs on our fixed-price contracts could have a material adverse impact on our consolidated financial condition, results of operations and cash flows. Alternatively, reductions in overall contract costs at completion could materially improve our consolidated financial condition, results of operations and cash flows. Variations from estimated contract performance could result in material adjustments to operating results for any fiscal quarter or year. Contract modifications are routine in the performance of our contracts. Contracts are often modified to account for changes in the contract specifications or requirements. In most instances, contract modifications are for goods or services that are not distinct and, therefore, are accounted for as part of the existing contract, with cumulative adjustment to revenue. We recognize accrued claims in contract revenues for extra work or changes in scope of work to the extent of costs incurred when we believe we have an enforceable right to the modification or claim and the amount can be estimated reliably, and its realization is probable. In evaluating these criteria, we consider the contractual/legal basis for enforcing the claim, the cause of any additional costs incurred and whether those costs are identifiable or otherwise determinable, the nature and reasonableness of those costs, the objective evidence available to support the amount of the claim, and our relevant history with the counter-party that supports our expectations about their willingness and ability to pay for the additional cost along with a reasonable margin. We generally recognize sales commissions in equal proportion as revenue is recognized. Our sales agreements are structured such that commissions are only payable upon receipt of payment, thus a capitalized asset at contract inception has not been recorded for sales commissions as a liability has not been incurred at that point. 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) September 30, 2020 December 31, 2019 $ Change % Change Contract assets - included in contracts in progress: Costs incurred less costs of revenue recognized $ 26,359 $ 29,877 $ (3,518 ) (12 )% Revenues recognized less billings to customers 47,523 61,702 (14,179 ) (23 )% Contracts in progress $ 73,882 $ 91,579 $ (17,697 ) (19 )% Contract liabilities - included in advance billings on contracts: Billings to customers less revenues recognized $ 52,410 $ 76,468 $ (24,058 ) (31 )% Costs of revenue recognized less cost incurred 1,636 (1,181 ) 2,817 (239 )% Advance billings on contracts $ 54,046 $ 75,287 $ (21,241 ) (28 )% Net contract balance $ 19,836 $ 16,292 $ 3,544 22 % Accrued contract losses $ 845 $ 6,193 $ (5,348 ) (86 )% Backlog On September 30, 2020 we had $509.0 million of remaining performance obligations, which we also refer to as total backlog. We expect to recognize approximately 18.3% , 34.6% and 47.1% of our remaining performance obligations as revenue in the remainder of 2020, 2021 and thereafter, respectively. Changes in Contract Estimates In the three and nine months ended September 30, 2020 and 2019 , we recognized changes in estimated gross profit related to long-term contracts accounted for on the over time basis, which are summarized as follows: Three months ended September 30, Nine months ended September 30, (in thousands) 2020 2019 2020 2019 Increases in gross profits for changes in estimates for over time contracts (1) $ 27,237 $ 10,279 $ 34,453 $ 25,089 Decreases in gross profits for changes in estimates for over time contracts (8,058 ) (13,248 ) (13,003 ) (35,892 ) Net changes in gross profits for changes in estimates for over time contracts $ 19,179 $ (2,969 ) $ 21,450 $ (10,803 ) (1) Increases in gross profits for changes in estimates for over time contracts reflects a non-recurring insurance loss recovery of $26.0 million in the three and nine months ended September 30, 2020 . B&W Renewable EPC Loss Contracts We had six B&W Renewable EPC 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 addition to these loss contracts, we have one remaining extended scope contract in our Babcock & Wilcox Renewable segment which turned into a loss contract in the fourth quarter of 2019. In the three months ended September 30, 2020 and 2019, we recorded $1.1 million and $0.7 million in net losses, respectively, inclusive of warranty expense as described in Note 10 , resulting from changes in the estimated revenues and costs to complete the six European B&W Renewable EPC loss contracts. In the three months ended September 30, 2020 we did no t change our estimate of liquidated damages on these contracts and in the three months ended September 30, 2019 , we reduced our estimate of liquidated damages on these contracts by $1.8 million . In the nine months ended September 30, 2020 and 2019, we recorded $1.4 million and $8.0 million in net losses, respectively, inclusive of warranty expense as described in Note 10 , resulting from changes in the estimated revenues and costs to complete the six European B&W Renewable EPC loss contracts. In the nine months ended September 30, 2020 we did no t change our estimate of liquidated damages on these contracts and in the nine months ended September 30, 2019 , we reduced our estimate of liquidated damages on these contracts by $2.2 million . Total anticipated liquidated damages associated with these six contracts were $92.7 million and $86.3 million at September 30, 2020 and September 30, 2019 , respectively. As of September 30, 2020, five of the six European B&W Renewable EPC loss contracts had been turned over to the customer, with only punch list or agreed remediation items and performance testing remaining, some of which are expected to be performed during the customers' scheduled maintenance outages. Turnover is not applicable to the fifth loss contract under the terms of the March 29, 2019 settlement agreement with the customers of the second and fifth loss contracts, who are related parties to each other. Under that settlement agreement, we limited our remaining risk related to these contracts by paying 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 May 31, 2019, 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. In accordance with the settlement, we 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 loss contract 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. For the second loss contract, the settlement limited the remaining performance obligations and settled historic claims for nonconformance and delays, and we turned over the plant in May 2019, and subsequently began the operations and maintenance contract to operate this plant. As of September 30, 2020 , the status of these six B&W Renewable 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 September 30, 2020 , this contract was approximately 100% 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 three and nine months ended September 30, 2020 , we recognized additional contract losses of $1.1 million and $1.9 million , respectively, inclusive of warranty. Our estimate at completion as of September 30, 2020 includes $9.5 million of total estimated liquidated damages. As of September 30, 2020 , we expect no future charges due to this contract and, accordingly, have no reserve for estimated contract losses. During the three and nine months ended September 30, 2019 , we recognized additional contract losses of $0.3 million and $2.3 million , respectively, on the contract as a result of identifying additional remediation costs in the third quarter of 2019. As of September 30, 2019 , this contract had $1.6 million of accrued losses and was approximately 98% complete. • The second contract, a biomass plant in the United Kingdom, became a loss contract in the fourth quarter of 2016. As of September 30, 2020 , this contract was approximately 100% complete. Trial operations began in April 2019 and takeover by the customer occurred effective May 2019. This project is subject to the March 29, 2019 settlement agreement described above. During the three months ended September 30, 2020 , we did no t recognize additional contract losses and during the nine months ended September 30, 2020 , we recognized additional contract losses of $0.1 million on this contract as a result of additional punch list and other commissioning costs. Our estimate at completion as of September 30, 2020 includes $20.0 million of total estimated liquidated damages due to schedule delays. Our estimates at completion as of September 30, 2020 and 2019 also include contractual bonus opportunities for guaranteed higher power output and other performance metrics. As of September 30, 2020 , we expect no future charges due to this contract and, accordingly, have no reserve for estimated contract losses. In the three and nine months ended September 30, 2019 , we recognized contract losses of $0.7 million and $2.6 million , respectively, 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. As of September 30, 2019 , this contract had $0.2 million of accrued losses and was approximately 100% complete. • The third contract, a biomass plant in Denmark, became a loss contract in the fourth quarter of 2016. As of September 30, 2020 , this contract was approximately 100% 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 and nine months ended September 30, 2020 , we did no t recognize additional contract losses. Our estimate at completion as of September 30, 2020 includes $7.1 million of total estimated liquidated damages due to schedule delays. As of September 30, 2020 , we expect no future charges due to this contract and, accordingly, we have no reserve for estimated contract losses. In the three and nine months ended September 30, 2019 , we did no t recognize additional contract losses. As of September 30, 2019 , this contract had no reserve for estimated contract losses and was approximately 100% complete. • The fourth contract, a biomass plant in the United Kingdom, became a loss contract in the fourth quarter of 2016. As of September 30, 2020 , this contract was approximately 100% 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 and nine months ended September 30, 2020 , we recognized additional contract charges of $0.1 million and $0.3 million , respectively, on this contract due to changes in cost to complete remaining punch list and other close out items. Our estimate at completion as of September 30, 2020 includes $21.8 million of total estimated liquidated damages due to schedule delays. Our estimates at completion as of September 30, 2020 also include contractual bonus opportunities for guaranteed higher power output and other performance metrics. As of September 30, 2020 , we expect no future charges due to this contract and, accordingly, we have no reserve for estimated contract losses. In the three and nine months ended September 30, 2019 , we recognized additional contract losses of $0.4 million and $4.8 million , respectively, on this contract due to changes in estimated bonus revenue and cost to complete remaining punch list, remediation of certain performance guarantees and other close out items. Our estimates at completion as of September 30, 2019 also included contractual bonus opportunities for guaranteed higher power output and other performance metrics. As of September 30, 2019 , this contract had $0.3 million of accrued losses and was approximately 99% complete. • The fifth contract, a biomass plant in the United Kingdom, became a loss contract in the second quarter of 2017. As of September 30, 2020 , this contract was approximately 100% 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 loss contract 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 construction support services to complete certain key systems of the plant by May 31, 2019. The settlement also eliminated all historical claims and remaining liquidated damages. Remaining items at September 30, 2020 are primarily related to punch list and other finalization items for the key systems under the terms of the settlement and subcontract close outs. During the nine months ended September 30, 2020 , our estimated loss on the contract improved by $0.4 million . Our estimate at completion as of September 30, 2020 , includes $14.3 million of total estimated liquidated damages due to schedule delays. As of September 30, 2020 , we expect no future charges due to this contract and, accordingly, we have no reserve for estimated contract losses. During the three and nine months ended September 30, 2019 , our estimated loss on the contract improved by $0.9 million and $2.6 million , respectively, inclusive of warranty. As of September 30, 2019 , this contract had $3.4 million of accrued losses and was approximately 98% 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 September 30, 2020 , this contract was approximately 100% complete. Trial operations began in December 2018 and customer takeover occurred on January 25, 2019. The contract is in the warranty phase. During the three and nine months ended September 30, 2020 , our estimated loss on the contract improved by $0.1 million and $0.5 million , respectively, inclusive of warranty. Our estimate at completion as of September 30, 2020 includes $20.0 million of total estimated liquidated damages due to schedule delays. As of September 30, 2020 , the reserve for estimated contract losses recorded in other accrued liabilities in our Consolidated Balance Sheets was $0.1 million . In the three and nine months ended September 30, 2019 , we revised our revenue and costs at completion for this contract, which resulted in additional contract losses of $0.1 million and $1.0 million , respectively, related to matters encountered in completing punch list items. As of September 30, 2019 , this contract had $0.1 million of accrued losses and was approximately 100% complete. In the fourth quarter of 2019, one of our other B&W Renewable energy contracts turned into a loss contract (estimated loss of $0.2 million ) due to the extension of time and other start-up costs associated with the completion of the trial operations run and turnover to the client. This contract was turned over to the client in October 2019. During the three and nine months ended September 30, 2020 , we recognized additional contract charges of $3.0 million on this contract due to increase of project close out costs. During the three and nine months ended September 30, 2019 , we recognized additional charges of $1.5 million and $3.0 million , respectively, on this contract. 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 September 30, 2020 estimated losses at completion for these three contracts. We are continuing to aggressively pursue recovery of this cost from responsible subcontractors. In June 2019, we agreed in principle to a settlement agreement under one insurance policy related to recover GBP 2.8 million ( $3.5 million ) of certain losses on the fifth project; which our insurer paid us in September 2019. In October 2020, we entered into a settlement agreement with an insurer under which we received a settlement of $26.0 million to settle claims in connection with five of six European B&W Renewable EPC loss contracts disclosed above. We recognized this non-recurring loss recovery of $26.0 million as a reduction of our Cost of operations in our Condensed Consolidated Statements of Operations and recorded the insurance receivable in Accounts receivable - other in our Condensed Consolidated Balance Sheets at September 30, 2020 because we determined the loss recovery was probable as of such date. On October 23, 2020, we received $26.0 million of gross proceeds under the settlement agreement. As required by the Company’s U.S. Revolving Credit Facility, 50% of the net proceeds (gross proceeds less costs) or approximately $8.0 million of the settlement received by the Company was applied as a permanent reduction of the U.S. Revolving Credit Facility in October 2020. The Company is continuing to pursue other additional potential claims where appropriate and available. Other B&W Renewable 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. We made a payment of £ 5.0 million (approximately $6.6 million ) on April 5, 2019 for the settlement which eliminated our obligations to act, and our risk related to acting, as the prime EPC should the project have moved forward. B&W Environmental Loss Contracts At September 30, 2020 , the B&W Environmental segment had two significant loss contracts, each of which are contracts for a dry cooling system for a gas-fired power plant in the United States. In the three and nine months ended September 30, 2020 , we recognized $1.3 million of additional charges on these contracts. In the three months ended September 30, 2019 , we did no t recognize additional charges on these contracts and in the nine months ended September 30, 2019 , our estimated loss on the second contract improved by $0.7 million , respectively, due to recovery of tariffs. At September 30, 2020 , the design and procurement are substantially complete, and construction is nearing completion on the first loss contract. Overall, the contract is approximately 100% complete with only performance testing remaining which is anticipated to be complete in the fourth quarter of 2020. As of September 30, 2020 , we have no reserve for estimated contract losses. As of September 30, 2019 , this contract had accrued losses of $0.5 million and was 97% complete. Construction is being performed by the B&W Thermal segment , but the contract loss is included in the B&W Environmental segment . At September 30, 2020 , the design and procurement are nearing completion on the second loss contract. Overall, the contract is approximately 97% complete and final completion is expected to be in the fourth quarter of 2020 . As of September 30, 2020 , the reserve for estimated contract losses recorded in other accrued liabilities in our Condensed Consolidated Balance Sheets was $0.2 million related to this contract. As of September 30, 2019 , this contract had accrued losses of $0.1 million and was 98% complete. The percent completion declined at September 30, 2020 compared to the prior year period due to an increase in additional contract charges of $3.3 million recognized in late 2019 due to issues with the seismic design and fans.

INVENTORIES

INVENTORIES	9 Months Ended
	Sep. 30, 2020
Inventory Disclosure [Abstract]
INVENTORIES	INVENTORIES The components of inventories are as follows: (in thousands) September 30, 2020 December 31, 2019 Raw materials and supplies $ 47,349 $ 42,685 Work in progress 6,710 7,502 Finished goods 12,907 12,916 Total inventories $ 66,966 $ 63,103

PROPERTY, PLANT & EQUIPMENT, &

PROPERTY, PLANT & EQUIPMENT, & FINANCE LEASE	9 Months Ended
	Sep. 30, 2020
Property, Plant and Equipment [Abstract]
PROPERTY, PLANT & EQUIPMENT, & FINANCE LEASE	PROPERTY, PLANT & EQUIPMENT, & FINANCE LEASE Property, plant and equipment less accumulated depreciation is as follows: (in thousands) September 30, 2020 December 31, 2019 Land $ 3,053 $ 2,998 Buildings 84,262 84,005 Machinery and equipment 153,592 154,016 Property under construction 6,333 6,204 247,240 247,223 Less accumulated depreciation 187,587 180,562 Net property, plant and equipment 59,653 66,661 Finance lease 30,550 30,405 Less finance lease accumulated amortization 1,558 13 Net property, plant and equipment, and finance lease $ 88,645 $ 97,053

GOODWILL

GOODWILL	9 Months Ended
	Sep. 30, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
GOODWILL	GOODWILL Goodwill is tested for impairment annually and when impairment indicators exist. During the third quarter of 2020, the Company completed an organizational and re-branding initiative, eliminating the legacy business unit structure and launching the B&W Renewable, B&W Environmental, and B&W Thermal brands, which we considered to be a triggering event and as a result, the Company reevaluated its operating segments and reporting units. Segment results for all periods have been restated for comparative purposes. Refer to Note 3 - Segment Reporting for further details on these changes. Effective September 30, 2020, the previous Babcock & Wilcox and Babcock & Wilcox Construction Company reporting units became the B&W Company Thermal and B&W Construction Company reporting units, respectively, within the Babcock & Wilcox Thermal operating segment. The Company also identified the B&W Company Renewable and B&W Company Environmental reporting units related to the transfer of businesses from the former Babcock & Wilcox reporting unit to the Babcock & Wilcox Renewable and Babcock & Wilcox Environmental operating segments. Consequently, the Company re-allocated goodwill between the affected reporting units based on their relative fair values and compared the carrying value to the fair value of each impacted reporting unit. In conjunction with the changes mentioned above, the Company performed a goodwill impairment test of the impacted reporting units on a before and after basis and based on the assessment, as of September 30, 2020, concluded that the fair value of the impacted reporting units exceeded their carrying values. Accordingly, no impairment was indicated during the third quarter of 2020. The following summarizes the changes in the net carrying amount of goodwill as of December 31, 2019 and September 30, 2020 after giving consideration to the reallocation of goodwill noted above: (in thousands) B&W Renewable B&W Environmental B&W Thermal Total Balance at December 31, 2019 $ 10,169 $ 5,652 $ 31,339 $ 47,160 Currency translation adjustments (5 ) (3 ) (16 ) (24 ) Balance at September 30, 2020 $ 10,164 $ 5,649 $ 31,323 $ 47,136 In the first quarter of 2020, our share price declined significantly, which we considered to be a triggering event for an interim goodwill assessment. We primarily attributed the significant decline in our share price to the current macroeconomic conditions and impacts COVID-19 will have on our operations. Based on the interim assessment, as of March 31, 2020, no impairment was indicated during the first quarter of 2020.

INTANGIBLE ASSETS

INTANGIBLE ASSETS	9 Months Ended
	Sep. 30, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
INTANGIBLE ASSETS	INTANGIBLE ASSETS Our intangible assets are as follows: (in thousands) September 30, 2020 December 31, 2019 Definite-lived intangible assets Customer relationships $ 24,634 $ 24,440 Unpatented technology 15,288 14,917 Patented technology 2,625 2,598 Tradename 12,706 12,372 All other 9,255 9,225 Gross value of definite-lived intangible assets 64,508 63,552 Customer relationships amortization (19,352 ) (18,616 ) Unpatented technology amortization (6,358 ) (5,245 ) Patented technology amortization (2,571 ) (2,476 ) Tradename amortization (4,686 ) (4,257 ) All other amortization (9,155 ) (8,963 ) Accumulated amortization (42,122 ) (39,557 ) Net definite-lived intangible assets $ 22,386 $ 23,995 Indefinite-lived intangible assets Trademarks and trade names $ 1,305 $ 1,305 Total intangible assets, net $ 23,691 $ 25,300 The following summarizes the changes in the carrying amount of intangible assets: Nine months ended September 30, (in thousands) 2020 2019 Balance at beginning of period $ 25,300 $ 30,793 Amortization expense (2,564 ) (3,301 ) Currency translation adjustments and other 955 (1,060 ) Balance at end of the period $ 23,691 $ 26,432 Amortization of intangible assets is included in cost of operations and SG&A in our Condensed Consolidated Statement of Operations but is not allocated to segment results. Estimated future intangible asset amortization expense is as follows (in thousands): Amortization Expense Year ending December 31, 2020 $ 827 Year ending December 31, 2021 3,188 Year ending December 31, 2022 3,159 Year ending December 31, 2023 3,158 Year ending December 31, 2024 3,086 Year ending December 31, 2025 2,567 Thereafter 6,401 The circumstances leading to the first quarter interim goodwill assessment as described in Note 7 also triggered an evaluation for long-lived assets, including intangible assets. The company performed an analysis as required by ASC 360-10-35 to assess the recoverability of other long-lived assets in its B&W Renewable and B&W Environmental asset groups. With respect to these asset groups no impairment was indicated during the first quarter of 2020.

LEASES

LEASES	9 Months Ended
	Sep. 30, 2020
Leases [Abstract]
LEASES	LEASES The components of lease expense included on our Condensed Consolidated Statements of Operations were as follows: Three months ended September 30, Nine months ended September 30, (in thousands) Classification 2020 2019 2020 2019 Operating lease expense: Operating lease expense Selling, general and administrative expenses $ 1,433 $ 1,569 $ 4,329 $ 5,067 Short-term lease expense Selling, general and administrative expenses 866 1,193 1,346 6,153 Variable lease expense (1) Selling, general and administrative expenses 625 121 1,019 682 Total operating lease expense $ 2,924 $ 2,883 $ 6,694 $ 11,902 Finance lease expense: Amortization of right-of-use assets Selling, general and administrative expenses $ 517 $ — $ 1,546 $ — Interest on lease liabilities Interest expense 612 — 1,843 — Total finance lease expense $ 1,129 $ — $ 3,389 $ — Sublease income (2) Other – net $ (22 ) $ (22 ) $ (65 ) $ (46 ) Net lease cost $ 4,031 $ 2,861 $ 10,018 $ 11,856 (1) Variable lease expense primarily consists of common area maintenance expenses paid directly to lessors of real estate leases. (2) Sublease income excludes rental income from owned properties, which is not material. Other information related to leases is as follows: (in thousands) September 30, 2020 December 31, 2019 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 4,275 $ 6,578 Operating cash flows from finance leases 1,843 14 Financing cash flows from finance leases (208 ) (12 ) Right-of-use assets obtained in exchange for lease liabilities: Operating leases $ 1,525 $ 3,014 Finance leases $ 146 $ 30,404 Weighted-average remaining lease term: Operating leases (in years) 3.1 3.4 Finance leases (in years) 14.2 15.0 Weighted-average discount rate: Operating leases 9.10 % 9.27 % Finance leases 8.00 % 8.00 % Amounts relating to leases were presented on our Condensed Consolidated Balance Sheets in the following line items: (in thousands) Assets: Classification September 30, 2020 December 31, 2019 Operating lease assets Right-of-use assets $ 10,272 $ 12,498 Finance lease assets Net property, plant and equipment, and finance lease 28,992 30,392 Total non-current lease assets $ 39,264 $ 42,890 Liabilities: Current Operating lease liabilities Operating lease liabilities $ 3,968 $ 4,323 Finance lease liabilities Financing lease liabilities 852 (38 ) Non-current Operating lease liabilities Non-current operating lease liabilities 6,381 8,388 Finance lease liabilities Non-current finance lease liabilities 29,917 30,454 Total lease liabilities $ 41,118 $ 43,127 Future minimum lease payments required under non-cancellable leases as of September 30, 2020 were as follows: (in thousands) Operating Leases Finance Leases Total 2020 (excluding the nine months ended September 30, 2020) $ 1,312 $ 803 $ 2,115 2021 4,246 3,277 7,523 2022 3,003 3,342 6,345 2023 1,992 3,408 5,400 2024 1,151 3,473 4,624 Thereafter 108 38,285 38,393 Total $ 11,812 $ 52,588 $ 64,400 Less imputed interest (1,463 ) (21,819 ) (23,282 ) Lease liability $ 10,349 $ 30,769 $ 41,118 In connection with the COVID-19 pandemic, the Company has received temporary rent payment deferrals related to leased facilities located in the U.S., Canada, Italy and Denmark. We have elected to account for the deferral in timing of lease payments as if there were no changes to the lease contract, including continued recognition of expense during the deferral period.
LEASES	LEASES The components of lease expense included on our Condensed Consolidated Statements of Operations were as follows: Three months ended September 30, Nine months ended September 30, (in thousands) Classification 2020 2019 2020 2019 Operating lease expense: Operating lease expense Selling, general and administrative expenses $ 1,433 $ 1,569 $ 4,329 $ 5,067 Short-term lease expense Selling, general and administrative expenses 866 1,193 1,346 6,153 Variable lease expense (1) Selling, general and administrative expenses 625 121 1,019 682 Total operating lease expense $ 2,924 $ 2,883 $ 6,694 $ 11,902 Finance lease expense: Amortization of right-of-use assets Selling, general and administrative expenses $ 517 $ — $ 1,546 $ — Interest on lease liabilities Interest expense 612 — 1,843 — Total finance lease expense $ 1,129 $ — $ 3,389 $ — Sublease income (2) Other – net $ (22 ) $ (22 ) $ (65 ) $ (46 ) Net lease cost $ 4,031 $ 2,861 $ 10,018 $ 11,856 (1) Variable lease expense primarily consists of common area maintenance expenses paid directly to lessors of real estate leases. (2) Sublease income excludes rental income from owned properties, which is not material. Other information related to leases is as follows: (in thousands) September 30, 2020 December 31, 2019 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 4,275 $ 6,578 Operating cash flows from finance leases 1,843 14 Financing cash flows from finance leases (208 ) (12 ) Right-of-use assets obtained in exchange for lease liabilities: Operating leases $ 1,525 $ 3,014 Finance leases $ 146 $ 30,404 Weighted-average remaining lease term: Operating leases (in years) 3.1 3.4 Finance leases (in years) 14.2 15.0 Weighted-average discount rate: Operating leases 9.10 % 9.27 % Finance leases 8.00 % 8.00 % Amounts relating to leases were presented on our Condensed Consolidated Balance Sheets in the following line items: (in thousands) Assets: Classification September 30, 2020 December 31, 2019 Operating lease assets Right-of-use assets $ 10,272 $ 12,498 Finance lease assets Net property, plant and equipment, and finance lease 28,992 30,392 Total non-current lease assets $ 39,264 $ 42,890 Liabilities: Current Operating lease liabilities Operating lease liabilities $ 3,968 $ 4,323 Finance lease liabilities Financing lease liabilities 852 (38 ) Non-current Operating lease liabilities Non-current operating lease liabilities 6,381 8,388 Finance lease liabilities Non-current finance lease liabilities 29,917 30,454 Total lease liabilities $ 41,118 $ 43,127 Future minimum lease payments required under non-cancellable leases as of September 30, 2020 were as follows: (in thousands) Operating Leases Finance Leases Total 2020 (excluding the nine months ended September 30, 2020) $ 1,312 $ 803 $ 2,115 2021 4,246 3,277 7,523 2022 3,003 3,342 6,345 2023 1,992 3,408 5,400 2024 1,151 3,473 4,624 Thereafter 108 38,285 38,393 Total $ 11,812 $ 52,588 $ 64,400 Less imputed interest (1,463 ) (21,819 ) (23,282 ) Lease liability $ 10,349 $ 30,769 $ 41,118 In connection with the COVID-19 pandemic, the Company has received temporary rent payment deferrals related to leased facilities located in the U.S., Canada, Italy and Denmark. We have elected to account for the deferral in timing of lease payments as if there were no changes to the lease contract, including continued recognition of expense during the deferral period.
LEASES	LEASES The components of lease expense included on our Condensed Consolidated Statements of Operations were as follows: Three months ended September 30, Nine months ended September 30, (in thousands) Classification 2020 2019 2020 2019 Operating lease expense: Operating lease expense Selling, general and administrative expenses $ 1,433 $ 1,569 $ 4,329 $ 5,067 Short-term lease expense Selling, general and administrative expenses 866 1,193 1,346 6,153 Variable lease expense (1) Selling, general and administrative expenses 625 121 1,019 682 Total operating lease expense $ 2,924 $ 2,883 $ 6,694 $ 11,902 Finance lease expense: Amortization of right-of-use assets Selling, general and administrative expenses $ 517 $ — $ 1,546 $ — Interest on lease liabilities Interest expense 612 — 1,843 — Total finance lease expense $ 1,129 $ — $ 3,389 $ — Sublease income (2) Other – net $ (22 ) $ (22 ) $ (65 ) $ (46 ) Net lease cost $ 4,031 $ 2,861 $ 10,018 $ 11,856 (1) Variable lease expense primarily consists of common area maintenance expenses paid directly to lessors of real estate leases. (2) Sublease income excludes rental income from owned properties, which is not material. Other information related to leases is as follows: (in thousands) September 30, 2020 December 31, 2019 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 4,275 $ 6,578 Operating cash flows from finance leases 1,843 14 Financing cash flows from finance leases (208 ) (12 ) Right-of-use assets obtained in exchange for lease liabilities: Operating leases $ 1,525 $ 3,014 Finance leases $ 146 $ 30,404 Weighted-average remaining lease term: Operating leases (in years) 3.1 3.4 Finance leases (in years) 14.2 15.0 Weighted-average discount rate: Operating leases 9.10 % 9.27 % Finance leases 8.00 % 8.00 % Amounts relating to leases were presented on our Condensed Consolidated Balance Sheets in the following line items: (in thousands) Assets: Classification September 30, 2020 December 31, 2019 Operating lease assets Right-of-use assets $ 10,272 $ 12,498 Finance lease assets Net property, plant and equipment, and finance lease 28,992 30,392 Total non-current lease assets $ 39,264 $ 42,890 Liabilities: Current Operating lease liabilities Operating lease liabilities $ 3,968 $ 4,323 Finance lease liabilities Financing lease liabilities 852 (38 ) Non-current Operating lease liabilities Non-current operating lease liabilities 6,381 8,388 Finance lease liabilities Non-current finance lease liabilities 29,917 30,454 Total lease liabilities $ 41,118 $ 43,127 Future minimum lease payments required under non-cancellable leases as of September 30, 2020 were as follows: (in thousands) Operating Leases Finance Leases Total 2020 (excluding the nine months ended September 30, 2020) $ 1,312 $ 803 $ 2,115 2021 4,246 3,277 7,523 2022 3,003 3,342 6,345 2023 1,992 3,408 5,400 2024 1,151 3,473 4,624 Thereafter 108 38,285 38,393 Total $ 11,812 $ 52,588 $ 64,400 Less imputed interest (1,463 ) (21,819 ) (23,282 ) Lease liability $ 10,349 $ 30,769 $ 41,118 In connection with the COVID-19 pandemic, the Company has received temporary rent payment deferrals related to leased facilities located in the U.S., Canada, Italy and Denmark. We have elected to account for the deferral in timing of lease payments as if there were no changes to the lease contract, including continued recognition of expense during the deferral period.

ACCRUED WARRANTY EXPENSE

ACCRUED WARRANTY EXPENSE	9 Months Ended
	Sep. 30, 2020
Product Warranties Disclosures [Abstract]
ACCRUED WARRANTY EXPENSE	ACCRUED 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: Nine months ended September 30, (in thousands) 2020 2019 Balance at beginning of period $ 33,376 $ 45,117 Additions 4,508 4,793 Expirations and other changes (3,523 ) (5,172 ) Payments (8,410 ) (7,848 ) Translation and other 852 (1,292 ) Balance at end of period $ 26,803 $ 35,598 We accrue estimated expense included in cost of operations on our Condensed Consolidated Statements 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. Warranty expense for the nine months ended September 30, 2019 includes $3.9 million of warranty reversal related to developments in the quarter stemming from the March 29, 2019 settlement agreement for the B&W Renewable EPC loss contracts described in Note 4 .

REVOLVING DEBT

REVOLVING DEBT	9 Months Ended
	Sep. 30, 2020
Debt Disclosure [Abstract]
REVOLVING DEBT	REVOLVING DEBT Our revolving debt is comprised of our U.S. Revolving Credit Facility in the U.S. with balances of $181.9 million as of September 30, 2020 and $179.0 million as of December 31, 2019 . A&R Credit Agreement On May 11, 2015, we entered into an 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 to the credit agreement, including several to avoid default under the financial and other covenants specified in the credit agreement. On May 14, 2020, we entered into the A&R Credit Agreement which refinances and extends the maturity of our U.S. Revolving Credit Facility and Last Out Term Loans. Under the A&R Credit Agreement, B. Riley has committed to provide the Company with up to $70.0 million of additional Last Out Term Loans on the same terms as the term loans extended under the prior credit agreement. An aggregate $30.0 million of this new commitment was funded upon execution of the A&R Credit Agreement. Of the remaining commitments, at least $35.0 million will be funded in installments, subject to reduction for the gross proceeds from certain equity offerings conducted by the Company, and $5.0 million will be funded upon request by the Company. The proceeds from the $30.0 million of new Last Out Term Loans will be used to pay transaction fees and expenses and repay outstanding borrowings under the U.S. Revolving Credit Facility. Proceeds from the remaining $40.0 million of Last Out Term Loans will be used to repay outstanding borrowings under the U.S. Revolving Credit Facility, with any remaining amounts used for working capital, capital expenditures, permitted acquisitions and general corporate purposes. The A&R Credit Agreement also provides that, (i) the U.S. Revolving Credit Facility continues to be available for issuances of existing and new letters of credit, subject to the L/C Sublimit (as defined below), (ii) the $205.0 million sublimit on borrowings under the U.S. Revolving Credit Facility is maintained, and (iii) interest payments on the unpaid principal amount of revolving credit loans incurred during the period from May 14, 2020 through and including August 31, 2020 of $3.8 million are deferred and will be paid in six equal installments on the last business day of each calendar month beginning on January 29, 2021 and through June 30, 2021. No swing line borrowings are permitted under the A&R Credit Agreement. The A&R Credit Agreement also amends the following terms, among others, as compared with the prior credit agreement: (i) the maturity date of the U.S. Revolving Credit Facility is extended to June 30, 2022, and the maturity date of all Last Out Term Loans under the A&R Credit Agreement is extended to December 30, 2022 (six months after the maturity date of the U.S. Revolving Credit Facility); (ii) the interest rate for loans under the U.S. Revolving Credit Facility have been reduced to LIBOR plus 7.0% or base rate (as defined in the A&R Credit Agreement) plus 6.0% . These margins have been reduced by 2.0% if commitments under the U.S. Revolving Credit Facility are reduced to less than $200.0 million . The fee for letters of credit will be set at 4.0% ; (iii) the interest rate for all Last Out Term Loans is set at 12.0% ; (iv) the commitments under the U.S. Revolving Credit Facility automatically and permanently decrease in the following amounts on the following dates, which match the funding dates and amounts for the committed term loans: (x) $10.0 million on November 30, 2020; and (y) $5.0 million on each of March 31, 2021, June 30, 2021, September 30, 2021, December 31, 2021 and March 31, 2022, respectively; (v) the amount of revolving loans and letters of credit available in currencies other than U.S. dollars has been capped at $125.0 million through April 30, 2021 and will step down to $110.0 million on May 1, 2021; and (vi) the amount of financial letters of credit has been capped at $75.0 million , and the amount of all letters of credit will be capped at $190.0 million through April 30, 2021 and step down to $175.0 million on May 1, 2021 (the “L/C Sublimit”). Affirmative and negative covenants under the A&R Credit Agreement are substantially consistent with the prior credit agreement, except that, among other changes: (i) the indebtedness covenant has been modified to permit the incurrence of any governmental assistance in the form of indebtedness in connection with COVID-19 relief in an aggregate principal amount not to exceed $10.0 million ; (ii) a third-party letter of credit basket of up to $50.0 million has been added; (iii) certain liens and restricted payments are modified to permit liens and repayments of indebtedness incurred in connection with governmental assistance in connection with COVID-19 relief; and (iv) covenants related to the European B&W Renewable EPC loss projects have been removed. The minimum required liquidity condition of $30.0 million remains constant but was modified to exclude cash of non-loan parties in an amount in excess of $25.0 million . Certain financial covenant testing has been suspended through September 30, 2020, with the Company and the Administrative Agent having agreed to negotiate such covenant levels and related definitions prior to October 31, 2020. See A&R Credit Agreement subsequent event described below for a discussion of the results of the negotiation. Events of default under the A&R Credit Agreement are substantially consistent with the prior credit agreement, except that: (i) B. Riley’s failure to fund any of its additional Last Out Term Loans committed under the A&R Credit Agreement will constitute an event of default; and (ii) the failure to negotiate and set certain financial covenant testing levels and related definitions prior to October 31, 2020 will constitute an event of default. In connection with the A&R Credit Agreement, the Company incurred certain customary amendment and commitment fees, a portion of which were deferred pursuant to the terms of the A&R Credit Agreement along with certain previously deferred fees incurred under the amended credit agreement. A&R Credit Agreement - subsequent event On October 30, 2020, we entered into A&R Amendment No. 1 with Bank of America, N.A. A&R Amendment No. 1, among other matters, (i) provides that, under the A&R Credit Agreement, the "Commitment Reduction Amount" shall be an amount equal to (a) for any "Prepayment Event" relating to a "Recovery Event" (each as defined under the A&R Credit Agreement), 50% of the net cash proceeds with respect to such Prepayment Event, and (b) with respect to any other Prepayment Event under the A&R Credit Agreement, the net cash proceeds with respect to such Prepayment Event, and (ii) establishes new financial covenants for interest coverage ratios and senior leverage ratios. Effective October 30, 2020, the minimum interest coverage ratios under our A&R Credit Agreement are as follows: • 0.50 : 1.00 for the quarter ending December 31, 2020 • 0.50 : 1.00 for the quarter ending March 31, 2021 • 0.80 : 1.00 for the quarter ending June 30, 2021 • 1.00 : 1.00 for the quarter ending September 30, 2021 • 1.10 : 1.00 for the quarter ending December 31, 2021 • 1.25 : 1.00 for the quarter ending March 31, 2022 and the last day of each fiscal quarter ending thereafter Effective October 30, 2020, the maximum permitted senior leverage ratios under our A&R Credit Agreement are as follows: • 7.75 : 1.00 for the quarter ending December 31, 2020 • 7.75 : 1.00 for the quarter ending March 31, 2021 • 4.25 : 1.00 for the quarter ending June 30, 2021 • 3.75 : 1.00 for the quarter ending September 30, 2021 • 3.00 : 1.00 for the quarter ending December 31, 2021 • 2.25 : 1.00 for the quarter ending March 31, 2022 and the last day of each fiscal quarter ending thereafter B. Riley Limited Guaranty In connection with the Company’s entry into the A&R Credit Agreement, B. Riley entered into the B. Riley Guaranty for the benefit of the Administrative Agent and the lenders under the U.S. Revolving Credit Facility. The B. Riley Guaranty provides for the guarantee of all of the Company’s obligations with respect to the U.S. Revolving Credit Facility (other than with respect to letters of credit and contingent obligations), including the obligation to repay outstanding revolving credit loans and pay earned interest and fees. The B. Riley Guaranty is enforceable in certain circumstances, including, among others: (i) B. Riley’s failure to timely fund in full any of its additional Last Out Term Loans committed under the A&R Credit Agreement; (ii) certain events of default relating to bankruptcy or insolvency occurring with respect to B. Riley; (iii) the acceleration of the Company’s borrowings under the U.S. Revolving Credit Facility; (iv) the Company’s failure to pay any amount due to the Administrative Agent or any lender under the U.S. Revolving Credit Facility; or (v) any assertion that the B. Riley Guaranty or any portion thereof is not valid, binding or enforceable. In connection with the B. Riley Guaranty, the Company entered into a fee letter with B. Riley pursuant to which the Company agreed to pay B. Riley a fee of $3.9 million (the “B. Riley Guaranty Fee”). On June 8, 2020, the Company issued 1,712,479 unregistered shares of Common Stock, respectively, to B. Riley and certain of its affiliates in settlement of the B. Riley Guaranty Fee in connection with the Equitization Agreement discussed below. Fee and Interest Equitization Agreement In connection with the B. Riley Guaranty, the Company entered into a Fee and Interest Equitization Agreement (the “Equitization Agreement”) with B. Riley and, solely for certain limited purposes under the Equitization Agreement, B. Riley FBR, Inc. The Equitization Agreement provides that, in lieu of receiving (a) $13.4 million of interest payments with respect to Last Out Term Loans under the A&R Credit Agreement between May 14, 2020 and December 31, 2020 (the “Equitized Interest Payments”) and (b) the B. Riley Guaranty Fee (the “Equitized Fee Payment” and, together with the Equitized Interest Payments, the “Equitized Fees and Interest Payments”), B. Riley will receive unregistered shares of the Company’s Common Stock, calculated as explained below. Under the Equitization Agreement, B. Riley will receive a number of unregistered shares of common stock equal to (i) the aggregate dollar value of the Equitized Fees and Interest Payments divided by (ii) the Conversion Price. For purposes of the Equitization Agreement, the “Conversion Price” means the average volume weighted average price for the Common Stock over 15 consecutive trading days beginning on and including May 15, 2020 (the “Measurement Period”), subject to customary adjustments. For purposes of the listing requirements of the New York Stock Exchange (the "NYSE"), the Equitization Agreement sets a minimum for the Conversion Price of $1.55 per share of common stock, unless and until approval is obtained from the Company’s stockholders under the rules of the NYSE. On June 5, 2020, the conversion price was calculated at $2.2774 per share. On September 30, 2020 and June 30, 2020, the Company issued 2,334,002 and 1,192,371 unregistered shares of Common Stock, respectively, to B. Riley and certain of its affiliates in settlement of the quarterly interest payable in connection with the Equitization Agreement discussed above. The Company is required under the Equitization Agreement to use its reasonable best efforts to take all actions to obtain any necessary stockholder approval under the rules of the NYSE for the issuance of the Shares of Common Stock. B. Riley has agreed to cause all shares of Common Stock beneficially owned by B. Riley to be voted in favor of any proposal presented to the Company’s stockholders seeking approval of the issuance of shares pursuant to the Equitization Agreement. The required stockholder approvals were obtained at the Company’s 2020 annual meeting of stockholders held on June 16, 2020. U.S. Revolving Credit Facility As of September 30, 2020 , the U.S. Revolving Credit Facility provides for a senior secured revolving credit facility in an aggregate amount of up to $326.9 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 agreement. As of September 30, 2020 , in connection with Amendment No. 16, we have accrued deferred ticking fee costs of $6.7 million due to certain required actions that were not completed by December 15, 2019. At September 30, 2020 , borrowings under the U.S. Revolving Credit Facility consisted of $181.9 million at a weighted average interest rate of 7.63% . Usage under the U.S. Revolving Credit Facility consisted of $181.9 million of revolving loan borrowings, $23.0 million of financial letters of credit and $89.6 million of performance letters of credit. At September 30, 2020 , we had approximately $32.4 million available to meet letter of credit requirements based on our overall facility size, of which $23.1 million was available for additional borrowings under our Sublimit. On October 23, 2020, we received $26.0 million under the settlement agreement described in Note 4. As required by the Company’s U.S. Revolving Credit Facility, 50% of the net proceeds (gross proceeds less costs) or approximately $8.0 million of the settlement received by the Company was applied as a permanent reduction of the U.S. Revolving Credit Facility in October 2020. Letters of Credit, Bank Guarantees and Surety Bonds Certain of our 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 September 30, 2020 and December 31, 2019 was $80.6 million and $88.5 million , respectively. The aggregate value of the letters of credit provided by the U.S. Revolving Credit Facility backstopping letters of credit or bank guarantees was $31.6 million as of September 30, 2020 . Of the letters of credit issued under the U.S. Revolving Credit Facility, $37.5 million are subject to foreign currency revaluation. 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 September 30, 2020 , bonds issued and outstanding under these arrangements in support of contracts totaled approximately $277.6 million . The aggregate value of the letters of credit provided by the U.S. Revolving Credit facility backstopping surety bonds was $34.7 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.

RESTRUCTURING ACTIVITIES

RESTRUCTURING ACTIVITIES	9 Months Ended
	Sep. 30, 2020
Restructuring and Related Activities [Abstract]
RESTRUCTURING ACTIVITIES	RESTRUCTURING ACTIVITIES The following tables summarize the restructuring activity incurred by segment: Three months ended September 30, Three months ended September 30, 2020 2019 (in thousands) Total Severance and related costs COVID-19 related costs Other (1) Severance and related costs B&W Renewable segment $ 594 $ 340 $ 23 $ 231 $ 414 B&W Environmental segment 299 119 52 128 193 B&W Thermal segment 1,370 422 92 856 805 Corporate 133 — 2 131 1,144 $ 2,396 $ 881 $ 169 $ 1,346 $ 2,556 Nine months ended September 30, Nine months ended September 30, 2020 2019 (in thousands) Total Severance and related costs COVID-19 related costs Other (1) Severance and related costs B&W Renewable segment $ 2,346 $ 1,153 $ 657 $ 536 $ 1,888 B&W Environmental segment 676 330 78 268 2,029 B&W Thermal segment 3,259 1,111 282 1,866 2,986 Corporate 458 — 94 364 2,668 $ 6,739 $ 2,594 $ 1,111 $ 3,034 $ 9,571 (1) Other amounts consist primarily of exit, relocation and other costs. 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 September 30, Nine months ended September 30, (in thousands) 2020 2019 2020 2019 Balance at beginning of period $ 5,087 $ 6,974 $ 5,359 $ 7,359 Restructuring expense 2,396 2,557 6,739 9,572 Payments (2,307 ) (2,957 ) (6,922 ) (10,357 ) Balance at end of period $ 5,176 $ 6,574 $ 5,176 $ 6,574 Accrued restructuring liabilities at September 30, 2020 and 2019 relate primarily to employee termination benefits. Severance payments are expected to extend through the end of 2020.

PENSION PLANS AND OTHER POSTRET

PENSION PLANS AND OTHER POSTRETIREMENT BENEFITS	9 Months Ended
	Sep. 30, 2020
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 September 30, Nine months ended September 30, Three months ended September 30, Nine months ended September 30, (in thousands) 2020 2019 2020 2019 2020 2019 2020 2019 Interest cost $ 8,263 $ 10,685 $ 24,773 $ 32,507 $ 88 $ 139 $ 232 $ 378 Expected return on plan assets (15,452 ) (13,901 ) (46,636 ) (41,700 ) — — — — Amortization of prior service cost 44 28 130 83 (271 ) (540 ) (813 ) (1,618 ) Recognized net actuarial (gain) loss — 18 — 1,278 — — — — Benefit plans, net (1) (7,145 ) (3,170 ) (21,733 ) (7,832 ) (183 ) (401 ) (581 ) (1,240 ) Service cost included in COS (2) 212 346 632 646 5 4 14 12 Net periodic benefit cost (benefit) $ (6,933 ) $ (2,824 ) $ (21,101 ) $ (7,186 ) $ (178 ) $ (397 ) $ (567 ) $ (1,228 ) (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 operations in the Condensed Consolidated Statement of Operations and is allocated to the B&W Thermal segment. Recognized net actuarial (gain) loss consists primarily of our reported actuarial (gain) loss, curtailments, settlements, and the difference between the actual return on plan assets and the expected return on plan assets. There were no MTM adjustments for our pension and other postretirement benefit plans during the three and nine months ended September 30, 2020 or the third quarter of 2019 and we incurred losses of $1.3 million in the nine months ended September 30, 2019 . We have excluded the recognized net actuarial (gain) loss from our reportable segments and such amount has been reflected in Note 3 as the MTM loss from benefit plans in the reconciliation of Adjusted EBITDA for each segment to consolidated loss before income tax. The recognized net actuarial (gain) loss was recorded in benefit plans, net in our Condensed Consolidated Statements of Operations. We made contributions to our pension and other postretirement benefit plans totaling $0.5 million and $1.6 million during the three and nine months ended September 30, 2020 , respectively, as compared to $0.5 million and $3.3 million during the three and nine months ended September 30, 2019 , respectively. Expected employer contributions to trusts of defined benefit plans assume that relief is granted under U.S. pension contribution waivers, which would defer minimum pension contributions for approximately one year to then be repaid over a five-year period. Related to the 2018 Plan year, we filed a request for waiver with the IRS in January 2019 and obtained a letter on August 27, 2019 that the waiver request had been approved subject to certain conditions. We filed a temporary hardship waiver request with the IRS on March 12, 2020 related to our contributions for our pension and other postretirement benefit plans for the 2019 Plan year and obtained a letter on October 1, 2020 that the waiver request had been approved subject to certain conditions. Pursuant to the provisions of the waiver granted by the IRS related to the 2018 Plan year, the Company was required to resume quarterly contributions on April 15, 2020 equal to the required quarterly contributions to the Plan. On March 27, 2020, the CARES Act was signed into law and among other things, provides deferral of certain U.S. pension plan contributions until January 1, 2021. We elected to defer the contribution payments of $5.5 million each for the 2020 Plan year that were due on April 15, 2020, July 15, 2020 and October 15, 2020, respectively. In addition, we elected to defer the contribution payments of $1.1 million for the 2018 Plan year and $23.7 million for the 2019 Plan year that were both due on September 15, 2020. Per the 2019 Plan year waiver received on October 1, 2020, the $23.7 million deferred for the 2019 Plan year will now be funded over the next five years . The total funding contributions of approximately $46.0 million estimated for 2020 that have been deferred includes $1.1 million for the 2018 Plan year, $23.7 million for the 2019 Plan year, $16.5 million for the 2020 Plan year and $4.5 million related to other non-qualified pension plans, non-U.S. pension plans and other postretirement benefits plans.

LAST OUT TERM LOANS

LAST OUT TERM LOANS	9 Months Ended
	Sep. 30, 2020
Debt Disclosure [Abstract]
LAST OUT TERM LOANS	LAST OUT TERM LOANS The components of the Last Out Term Loans by Tranche are as follows: September 30, 2020 (in thousands) A-3 A-4 A-6 Total Proceeds (1) $ 101,660 $ 30,000 $ 30,000 $ 161,660 Discount and fees 8,650 — — 8,650 Paid-in-kind interest 3,020 — — 3,020 Net debt balance $ 113,330 $ 30,000 $ 30,000 $ 173,330 (1) Tranche A-3 proceeds represent the net proceeds after the $39.7 million principal prepayment of the tranche as of July 23, 2019, the date of the Equitization Transactions. December 31, 2019 (in thousands) A-3 Proceeds (1) $ 101,660 Discount and fees 8,650 Paid-in-kind interest 3,020 Principal 113,330 Unamortized discount and fees (9,377 ) Net debt balance $ 103,953 (1) Tranche A-3 proceeds represent the net proceeds after the $39.7 million principal prepayment of the tranche as of July 23, 2019, the date of the Equitization Transactions. Last Out Term Loans are incurred under our A&R Credit Agreement and are pari passu with the U.S. Revolving Credit Facility except for certain payment subordination provisions. The Last Out Term Loans are subject to the same representations and warranties, covenants and events of default as the U.S. Revolving Credit Facility. Under U.S. GAAP, a debt modification with the same borrower that results in substantially different terms is accounted for as an extinguishment of the existing debt and a reborrowing of new debt. An extinguishment gain or loss is then recognized based on the fair value of the new debt as compared to the carrying value of the extinguished debt. The Company recognized a loss on debt extinguishment of $6.2 million in the quarter ended June 30, 2020, primarily representing the unamortized value of the original issuance discount and fees on the Tranche A-3 Last Out Term Loan. In connection with the effectiveness of the A&R Credit Agreement, the maturity date for the Last Out Term Loans was extended to December 30, 2022. On September 30, 2020 and June 30, 2020, the Company issued 2,334,002 and 1,192,371 unregistered shares of common stock, respectively, to B. Riley and certain of its affiliates in settlement of the quarterly interest payable in connection with the Fee and Interest Equitization Agreement discussed in Note 13 . The total effective interest rate of Tranche A-3, Tranche A-4 and Tranche A-6 was 12.0% on September 30, 2020 . The interest rate on the Last Out Term Loans under the A&R Credit Agreement is a fixed rate per annum of 12.0% . Interest expense associated with the Last Out Term Loans is detailed in Note 15 . Tranche A-1 We borrowed $30.0 million of net proceeds under Tranche A-1 of the Last Out Term Loans from B. Riley, a related party, in September and October of 2018. In November 2018, Tranche A-1 was assigned to Vintage, also a related party. As part of the Equitization Transactions in July 2019, the outstanding principal of Tranche A-1 of the Last Out Term Loans including accrued paid-in-kind interest remaining as of March 31, 2019 was exchanged for shares of Common Stock. Tranche A-2 We borrowed $10.0 million of net proceeds under Tranche A-2 of Last Out Term Loans from B. Riley, a related party in March 2019. Tranche A-2 was fully repaid on July 23, 2019 with proceeds from the 2019 Rights Offering as part of the Equitization Transactions in July 2019. Tranche A-3 Under Amendment No. 16 to our credit agreement, we borrowed $150.0 million face value from B. Riley, a related party, under a Tranche A-3 of Last Out Term Loans. The $141.4 million net proceeds from Tranche A-3 were primarily used to pay the amounts due under the settlement agreements covering certain European B&W Renewable loss projects as described in Note 4 , with the remainder used for working capital and general corporate purposes. Interest rates for Tranche A-3 are described above. Tranche A-3 may be prepaid, subject to the subordination provisions under the amended credit agreement as described above, but not re-borrowed. As part of the Equitization Transactions, the total prepayment of principal of Tranche A-3 of the Last Out Term Loans was $39.7 million . Tranche A-4 On January 31, 2020, we entered into Amendment No. 20 to our credit agreement ("Amendment No. 20") Amendment No. 20 provides $30.0 million of additional commitments from B. Riley, a related party, under a new Tranche A-4 of Last Out Term Loans. The proceeds from Tranche A-4 may be used under the terms of Amendment No. 20 to repay revolving credit loans, for working capital and general corporate purposes, and to reimburse certain expenses of B. Riley as specified by Amendment No. 20. The terms of Tranche A-4 are the same as the terms for the Tranche A-3. As of January 31, 2020, we borrowed $30.0 million face value of the Tranche A-4 and received net proceeds of $26.3 million after incurring total fees of $3.7 million related to Amendment No. 20 described above. Tranche A-5 Amendment No. 20 also provides an incremental Tranche A-5 of Last Out Term Loans to be extended prior to maturity of the Last Out Term Loans under the A&R Credit Agreement in the event certain customer letters of credit are drawn. The terms of Tranche A-5 are the same as the terms for the Tranche A-3 under the A&R Credit Agreement. As of November 13, 2020, no borrowings occurred under Tranche A-5. Tranche A-6 The A&R Credit Agreement provided us with up to $70.0 million of additional funding in the form of Tranche A-6 Last Out Term Loans from B. Riley, a related party, as described in Note 13 . An aggregate $30.0 million of this new commitment was funded upon execution of the A&R Credit Agreement. The $35.0 million will be funded in installments, subject to reduction for the gross proceeds from certain offerings of our Common Stock by the Company. The remaining $5.0 million will be available upon request by the Company. On May 14, 2020, we borrowed $30.0 million face value of the Tranche A-6 and received gross proceeds of $30.0 million related to the entry into the A&R Credit Agreement. Tranche A-7 The A&R Credit Agreement provided us with up to $50.0 million of additional funding for letters of credit in the form of Tranche A-7 Last Out Term Loans from B. Riley, a related party, as described in Note 13 . The $50.0 million will be available upon request by the Company, subject to certain limitations. As of November 13, 2020, no borrowings occurred under Tranche A-7.

INTEREST EXPENSE AND SUPPLEMENT

INTEREST EXPENSE AND SUPPLEMENTAL CASH FLOW INFORMATION	9 Months Ended
	Sep. 30, 2020
Supplemental Cash Flow Information [Abstract]
INTEREST EXPENSE AND SUPPLEMENTAL CASH FLOW INFORMATION	INTEREST EXPENSE AND SUPPLEMENTAL CASH FLOW INFORMATION Interest expense in our Condensed Consolidated Financial Statements consisted of the following components: Three months ended September 30, Nine months ended September 30, (in thousands) 2020 2019 2020 2019 Components associated with borrowings from: U.S. Revolving Credit Facility $ 3,382 $ 4,292 $ 10,830 $ 11,644 Last Out Term Loans - cash interest — 3,613 6,140 7,732 Last Out Term Loans - equitized interest 5,315 — 8,031 — Last Out Term Loans - paid-in-kind interest — 1,024 — 5,964 8,697 8,929 25,001 25,340 Components associated with amortization or accretion of: U.S. Revolving Credit Facility - deferred financing fees and commitment fees 1,711 8,836 14,376 22,985 U.S. Revolving Credit Facility contingent consent fee for Amendment 16 — 5,011 — 9,686 U.S. Revolving Credit Facility - deferred ticking fee for Amendment 16 — — 1,660 — Last Out Term Loans - discount and financing fees (545 ) 6,445 3,183 8,514 1,166 20,292 19,219 41,185 Other interest expense 2,340 242 5,556 909 Total interest expense $ 12,203 $ 29,463 $ 49,776 $ 67,434 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) September 30, 2020 December 31, 2019 September 30, 2019 December 31, 2018 Held by foreign entities $ 36,848 $ 38,921 $ 30,590 $ 35,522 Held by U.S. entities 2,086 4,851 1,473 7,692 Cash and cash equivalents of continuing operations 38,934 43,772 32,063 43,214 Reinsurance reserve requirements 3,443 9,318 8,802 11,768 Restricted foreign accounts 2,752 3,851 2,480 5,297 Bank guarantee collateral 3,240 — — — Restricted cash and cash equivalents 9,435 13,169 11,282 17,065 Total cash, cash equivalents and restricted cash shown in the Condensed Consolidated Statements of Cash Flows $ 48,369 $ 56,941 $ 43,345 $ 60,279 Our U.S. Revolving Credit Facility described in Note 13 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. The following cash activity is presented as a supplement to our Condensed Consolidated Statements of Cash Flows and is included in Net cash used in activities : Nine months ended September 30, (in thousands) 2020 2019 Income tax payments, net $ 3,967 $ 304 Interest payments on our U.S. Revolving Credit Facility $ 8,280 $ 9,748 Interest payments on our Last Out Term Loans 6,140 4,909 Total cash paid for interest $ 14,420 $ 14,657

PROVISION FOR INCOME TAXES

PROVISION FOR INCOME TAXES	9 Months Ended
	Sep. 30, 2020
Income Tax Disclosure [Abstract]
PROVISION FOR INCOME TAXES	PROVISION FOR INCOME TAXES In the three months ended September 30, 2020 , income tax benefit was $0.5 million , resulting in an effective tax rate of (1.5)% . In the three months ended September 30, 2019 , income tax expense was $1.0 million , with an effective tax rate of (1.9)% . Our effective tax rate for the three months ended September 30, 2020 and 2019 is not reflective of the U.S. statutory rate primarily due to valuation allowances against our net deferred tax assets. We have unfavorable discrete items of $0.1 million for the three months ended September 30, 2020 and unfavorable discrete items of $0.5 million for the three months ended September 30, 2019 . In the nine months ended September 30, 2020 , income tax benefit was $0.5 million , resulting in an effective tax rate of 2.7% . In the nine months ended September 30, 2019 , income tax expense was $3.6 million , resulting in an effective tax rate of (2.7)% . Our effective tax rate for the nine months ended September 30, 2020 and 2019 is not reflective of the U.S. statutory rate primarily due to valuation allowances against our net deferred tax assets. We have favorable discrete items of $1.2 million and unfavorable discrete items of $0.6 million in the nine months ended September 30, 2020 and 2019 , respectively. We are subject to federal income tax in the United States and numerous countries that have statutory tax rates different than the United States 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 approximately 19% and 30% . We provide for income taxes based on the tax laws and rates in the jurisdictions where we conduct operations. These jurisdictions may have regimes of taxation that vary in 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. CARES Act On March 27, 2020, in response to the COVID-19 pandemic, the Coronavirus Aid, Relief, and Economic Security Act (“CARES Act” or “Act”) was signed into law. The Act contains a number of provisions designed to assist companies during the pandemic. Certain provisions may impact the Company’s income tax provision. Management has concluded the CARES Act will not have an impact on the Company’s tax attributes.

CONTINGENCIES

CONTINGENCIES	9 Months Ended
	Sep. 30, 2020
Commitments and Contingencies Disclosure [Abstract]
CONTINGENCIES	CONTINGENCIES Litigation Relating to Boiler Installation and Supply Contract On December 27, 2019, a complaint was filed against Babcock & Wilcox by P.H. Glatfelter Company (“Glatfelter”) in the United States District Court for the Middle District of Pennsylvania, Case No. 1:19-cv-02215-JPW, alleging claims of breach of contract, fraud, negligent misrepresentation, promissory estoppel and unjust enrichment (the “Glatfelter Litigation”). The complaint alleges damages in excess of $58.9 million . We are evaluating Glatfelter’s claims as well as potential counter claims against Glatfelter and intend to vigorously defend against the action. However, given the preliminary stage of the litigation, it is too early to determine if the outcome of the Glatfelter Litigation will have a material adverse impact on our condensed consolidated financial condition, results of operations or cash flows. SEC Investigation The U.S. SEC is conducting a formal investigation of the Company, focusing on the accounting charges and related matters involving the Company's B&W Renewable segment from 2015-2019. The SEC has served multiple subpoenas on the Company for documents. The Company is cooperating with the SEC related to the subpoenas and investigation. The Company is still in the process of producing documents to the SEC. In addition, the SEC has taken testimony from past and current officers, directors, and present and former employees. It is reasonably possible that the SEC may bring one or more claims against the Company and certain individuals. Due to the stage of the investigation, we are unable to estimate the amount of loss or range of potential loss of any claim. However, there can be no assurance that such claims will not have a material impact on the Company. Stockholder Derivative and Class Action Litigation On April 14, 2020, a putative B&W stockholder (“Plaintiff”) filed a derivative and class action complaint against certain of the Company’s directors (current and former), executives and significant stockholders (“Defendants”) and the Company (as a nominal defendant). The action was filed in the Delaware Court of Chancery and is captioned Parker v. Avril, et al., C.A. No. 2020-0280-PAF. Plaintiff alleges that Defendants, among other things, did not properly discharge their fiduciary duties in connection with the 2019 rights offering and related transactions. The Company is evaluating Plaintiff’s claims and intends to vigorously defend against the action. 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 condensed consolidated financial condition, results of operations or cash flows.

COMPREHENSIVE INCOME

COMPREHENSIVE INCOME	9 Months Ended
	Sep. 30, 2020
Equity [Abstract]
COMPREHENSIVE INCOME	COMPREHENSIVE INCOME Gains and losses deferred in accumulated other comprehensive income (loss) ("AOCI") are generally 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 first two quarters of 2020 and 2019 were as follows: (in thousands) Currency translation (loss) gain Net unrecognized loss related to benefit plans (net of tax) Total Balance at December 31, 2019 $ 5,743 $ (3,817 ) $ 1,926 Other comprehensive income (loss) before reclassifications 2,380 — 2,380 Reclassified from AOCI to net income (loss) — (246 ) (246 ) Net other comprehensive income (loss) 2,380 (246 ) 2,134 Balance at March 31, 2020 $ 8,123 $ (4,063 ) $ 4,060 Other comprehensive income (loss) before reclassifications (4,095 ) — (4,095 ) Reclassified from AOCI to net income (loss) — (246 ) (246 ) Net other comprehensive income (loss) (4,095 ) (246 ) (4,341 ) Balance at June 30, 2020 $ 4,028 $ (4,309 ) $ (281 ) Other comprehensive income (loss) before reclassifications (22,916 ) — (22,916 ) Reclassified from AOCI to net income (loss) — (246 ) (246 ) Net other comprehensive income (loss) (22,916 ) (246 ) (23,162 ) Balance at September 30, 2020 $ (18,888 ) $ (4,555 ) $ (23,443 ) (in thousands) Currency translation (loss) gain Net unrealized gain (loss) on derivative instruments Net unrecognized loss 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 ) Other comprehensive loss before reclassifications (7,979 ) (189 ) — (8,168 ) Reclassified from AOCI to net income (loss) 3,176 (22 ) (514 ) 2,640 Net other comprehensive (loss) income (4,803 ) (211 ) (514 ) (5,528 ) Balance at June 30, 2019 $ (5,377 ) $ 197 $ (2,830 ) $ (8,010 ) Other comprehensive loss before reclassifications 21,433 $ — $ — 21,433 Reclassified from AOCI to net income (loss) — $ — $ (515 ) (515 ) Amounts reclassified from AOCI to advanced billings on contracts — (197 ) — (197 ) Net other comprehensive (loss) income 21,433 (197 ) (515 ) 20,721 Balance at September 30, 2019 $ 16,056 $ — $ (3,345 ) $ 12,711 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 September 30, Nine months ended September 30, 2020 2019 2020 2019 Release of currency translation gain with the sale of equity method investment and the sale of business Loss on sale of business $ — $ — $ — $ (3,176 ) Derivative financial instruments Other – net — — — (202 ) Net loss $ — $ — $ — $ (3,378 ) Amortization of prior service cost on benefit obligations Benefit plans, net 246 515 738 1,385 Net income $ 246 $ 515 $ 738 $ 1,385

FAIR VALUE MEASUREMENTS

FAIR VALUE MEASUREMENTS	9 Months Ended
	Sep. 30, 2020
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 September 30, 2020 Level 1 Level 2 Corporate notes and bonds $ 10,612 $ 10,612 $ — Mutual funds 577 — 577 United States Government and agency securities 6,132 6,132 — Total fair value of available-for-sale securities $ 17,321 $ 16,744 $ 577 (in thousands) Available-for-sale securities December 31, 2019 Level 1 Level 2 Corporate notes and bonds $ 8,310 $ 8,310 $ — Mutual funds 587 — 587 United States Government and agency securities 3,868 3,868 — Total fair value of available-for-sale securities $ 12,765 $ 12,178 $ 587 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 September 30, 2020 , we do not hold any derivative assets or liabilities; the last of our derivative 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 September 30, 2020 and December 31, 2019 . • Warrants. The fair value of the warrants was established using the Black-Scholes option pricing model value approach. 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 12 ). These inputs included the estimated discount rate, expected return on plan assets and other actuarial inputs associated with the plan participants. Tests for impairment annually and when impairment indicators exist require significant fair value measurements using unobservable inputs (see Note 7 ). The fair values of the reporting units were based on an income approach using a discounted cash flow analysis, a market approach using multiples of revenue and EBITDA of guideline companies, and a market approach using multiples of revenue and EBITDA from recent, similar business combinations. Property, plant and equipment and definite-lived intangible asset 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 8 ).

RELATED PARTY TRANSACTIONS

RELATED PARTY TRANSACTIONS	9 Months Ended
	Sep. 30, 2020
Related Party Transactions [Abstract]
RELATED PARTY TRANSACTIONS	RELATED PARTY TRANSACTIONS The Letter Agreement entered into 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, between B. Riley, Vintage and the Company included agreement to negotiate one or more agreements that 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, 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 Company also entered into a Registration Rights Agreement with B. Riley and Vintage on April 30, 2019 providing each with certain customary registration rights for the shares of our common stock that they hold. On April 30, 2019, the Company entered into an Investor Rights Agreement with B. Riley and Vintage providing the governance rights contemplated by the Letter Agreement. Transactions with B. Riley Based on its Schedule 13D filings, B. Riley beneficially owns 29.5% of our outstanding common stock as of September 30, 2020 . B. Riley is party to the Last Out Term Loans as described in Note 14 . B. Riley has also provided the B. Riley Guaranty as described in Note 13 . In connection with the B. Riley Guaranty, the Company entered into the Fee and Interest Equitization Agreement described in Note 13 . Under the Equitization Agreement the Company issued 1.7 million shares of common stock on June 8, 2020, 1.2 million shares of common stock on June 30, 2020 and 2.3 million shares of common stock on September 30, 2020 to B. Riley in satisfaction of the B. Riley Guaranty Fee and payment of certain interest payments described in Note 13 . All of these issued shares are unregistered. We entered into an agreement with BRPI Executive Consulting, LLC, an affiliate of B. Riley, 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 may also be earned and payable to BRPI Executive Consulting, LLC. In June 2019, we granted a total of $2.0 million in cash bonuses to BRPI Executive Consulting LLC for Mr. Young's performance and services. In April 2020, we temporarily deferred the monthly fee paid to BRPI Executive Consulting, LLC for the services of our Chief Executive Officer by 50% as described in Note 1 . Total fees associated with B. Riley related to the Last Out Term Loans and services of Mr. Kenny Young, both as described above, were $0.1 million and $7.6 million for the three and nine months ended September 30, 2020 , respectively, and were $0.4 million and $11.9 million for the three and nine months ended September 30, 2019 , respectively. On August 10, 2020, B. Riley Financial, Inc. entered into a project specific indemnity rider (the “Indemnity Rider”) to the General Agreement of Indemnity, dated May 28, 2015, between us and Berkley Insurance Company (the “Surety”). Pursuant to the terms of the Indemnity Rider, B. Riley will indemnify the Surety for losses the Surety may incur as a result of providing a payment and performance bond in an aggregate amount not to exceed $30.0 million in connection with our proposed performance on a specified project. In consideration of B. Riley's execution of the Indemnity Rider, we paid B. Riley a fee of $0.6 million following the issuance of the bond by the Surety, which represents approximately 2.0% of the bonded obligations. Under the A&R Credit Agreement, any draw or claim under the Indemnity Rider will convert into a Tranche A-5 Last Out Term Loan for the benefit of B. Riley. Refer to Note 13 for additional related party transactions with B. Riley and its affiliates. Transactions with B. Riley - subsequent event On November 9, 2020 we entered into an agreement with BRPI Executive Consulting, LLC, an affiliate of B. Riley to extend the services of Mr. Kenny Young, to serve as our Chief Executive Officer until December 31, 2023. Other than the term extension, there are no other changes to the agreement with BRPI Executive Consulting, LLC. Transactions with Vintage Capital Management, LLC Based on its Schedule 13D filings, Vintage beneficially owns 20.6% of our outstanding common stock as of September 30, 2020 .

ASSETS HELD FOR SALE, DIVESTITU

ASSETS HELD FOR SALE, DIVESTITURES AND DISCONTINUED OPERATIONS	9 Months Ended
	Sep. 30, 2020
Business Combinations [Abstract]
ASSETS HELD FOR SALE, DIVESTITURES AND DISCONTINUED OPERATIONS	ASSETS HELD FOR SALE, DIVESTITURES AND DISCONTINUED OPERATIONS Assets Held for Sale In December 2019, we determined that a small business within the B&W Thermal segment met the criteria to be classified as held for sale. Assets and liabilities held for sale are required to be recorded at the lower of carrying value or fair value less any costs to sell. At September 30, 2020 , the carrying value of the assets held for sale approximated the estimated fair value less costs to sell, therefore an impairment charge was not required. The divestiture of the business held for sale could result in a gain or loss on sale to the extent the ultimate selling price differs from the current carrying value of the net assets recorded. The sale is expected to occur in 2020. The following table summarizes the carrying value of the assets and liabilities held for sale at September 30, 2020 and December 31, 2019 : (in thousands) September 30, 2020 December 31, 2019 Accounts receivable – trade, net $ 1,527 $ 5,472 Accounts receivable – other 77 147 Contracts in progress 797 586 Inventories 2,292 1,555 Other current assets 123 329 Current assets held for sale 4,816 8,089 Net property, plant and equipment 6,793 6,534 Intangible assets 732 725 Right-of-use-asset 57 63 Other assets (39 ) — Non-current assets held for sale 7,543 7,322 Total assets held for sale $ 12,359 $ 15,411 Accounts payable $ 5,352 $ 7,898 Accrued employee benefits 317 430 Advance billings on contracts 76 227 Accrued warranty expense 517 515 Operating lease liabilities 33 6 Other accrued liabilities 630 462 Current liabilities held for sale 6,925 9,538 Total liabilities held for sale $ 6,925 $ 9,538 Divestitures On March 17, 2020, we fully settled the remaining escrow associated with the sale of PBRRC and received $4.5 million in cash. Effective May 31, 2019, we sold all of the issued and outstanding capital stock of Loibl, a material handling business in Germany, to Lynx Holding GmbH for €10.0 million (approximately $11.4 million ), subject to adjustment. We received $7.4 million in cash and recognized a $3.6 million pre-tax loss on the sale of this business in the quarter ended September 30, 2019 , net of $0.7 million in transaction costs. Proceeds from the transaction were primarily used to reduce outstanding balances under our U.S. Revolving Credit Facility. Discontinued Operations On April 6, 2020, we fully settled the remaining escrow associated with the sale of the MEGTEC and Universal businesses and received $3.5 million in cash.

NEW ACCOUNTING STANDARDS

NEW ACCOUNTING STANDARDS	9 Months Ended
	Sep. 30, 2020
Accounting Policies [Abstract]
NEW ACCOUNTING STANDARDS	NEW ACCOUNTING STANDARDS We adopted the following new accounting standard during the first quarter of 2020: 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. The impact of this standard on our condensed consolidated financial statements was immaterial. New accounting standards not yet adopted that could affect our Condensed Consolidated Financial Statements in the future are summarized as follows: In August 2020, the FASB issued ASU 2020-06, Debt – Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging – Contracts in Entity’s Own Equity (Subtopic 815 – 40) . The amendments in this update simplify the accounting for certain financial instruments with characteristics of liabilities and equity, including convertible instruments and contracts on an entity’s own equity by removing major separation models required under current U.S. GAAP. The amendments also improve the consistency of diluted earnings per share calculations. The amendments in this update are effective for public business entities that meet the definition of an SEC filer, excluding entities eligible to be smaller reporting companies as defined by the SEC, for fiscal years beginning after December 15, 2021, including interim periods within those fiscal years. For all other entities, the amendments are effective for fiscal years beginning after December 15, 2023, including interim periods within those fiscal years. Early adoption is permitted, but no earlier than fiscal years beginning after December 15, 2020, including interim periods within those fiscal years. We are currently evaluating the impact of the standard on our condensed consolidated financial statements. In March 2020, the FASB issued ASU 2020-04, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform of Financial Reporting. The amendments in this update provide optional expedients and exceptions for applying generally accepted accounting principles to contracts, hedging relationships, and other transactions affected by reference rate reform if certain criteria are met. The amendments in this update apply only to contracts, hedging relationships, and other transactions that reference LIBOR or another reference rate expected to be discontinued because of reference rate reform. The expedients and exceptions provided by the amendments do not apply to contract modifications made and hedging relationships entered into or evaluated after December 31, 2022, except for hedging relationships existing as of December 31, 2022, that an entity has elected certain optional expedients for and that are retained through the end of the hedging relationship. The amendments in this update are effective for all entities upon issuance and may be adopted any date on or after March 12, 2020 up to December 31, 2022. We are currently evaluating the impact of the standard on our condensed consolidated financial statements. In December 2019, the FASB issued ASU 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes. The amendments in this update simplify the accounting for income taxes by removing exceptions related to the incremental approach for intra-period tax allocation, certain deferred tax liabilities, and the general methodology for calculating income taxes in an interim period. The amendment also provides simplification related to accounting for franchise (or similar) tax, evaluating the tax basis step up of goodwill, allocation of consolidated current and deferred tax expense, reflection of the impact of enacted tax law or rate changes in annual effective tax rate calculations in the interim period that includes enactment date, and other minor codification improvements. For public business entities, the amendments are effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2020. Early adoption of the amendments is permitted, including adoption in any interim period for public business entities for periods in which financial statements have not yet been issued. We are currently evaluating the impact of the standard on our condensed consolidated financial statements. In November 2018, the FASB issued ASU 2018-19, Codification Improvements to Topic 326: Financial Instruments - Credit Losses. This update is an amendment to the new credit losses standard, ASU 2016-13, Financial Instruments—Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments , that was issued in June 2016 and clarifies that operating lease receivables are not within the scope of Topic 326. The new credit losses standard changes the accounting for credit losses for certain instruments. The new measurement approach is based on expected losses, commonly referred to as the current expected credit loss (CECL) model, and applies to financial assets measured at amortized cost, including loans, held-to-maturity debt securities, net investment in leases, and reinsurance and trade receivables, as well as certain off-balance sheet credit exposures, such as loan commitments. The standard also changes the impairment model for available-for-sale debt securities. The provisions of this standard will primarily impact the allowance for doubtful accounts on our trade receivables, contracts in progress, and potentially our impairment model for available-for-sale debt securities (to the extent we have any upon adoption). For public, smaller reporting companies, this standard is effective for fiscal years beginning after December 15, 2022, including interim periods within those fiscal years. We are currently evaluating the impact of both standards on our condensed consolidated financial statements.

NEW ACCOUNTING STANDARDS (Polic

NEW ACCOUNTING STANDARDS (Policies)	9 Months Ended
	Sep. 30, 2020
Accounting Policies [Abstract]
Recently adopted and new accounting standards	We adopted the following new accounting standard during the first quarter of 2020: 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. The impact of this standard on our condensed consolidated financial statements was immaterial. New accounting standards not yet adopted that could affect our Condensed Consolidated Financial Statements in the future are summarized as follows: In August 2020, the FASB issued ASU 2020-06, Debt – Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging – Contracts in Entity’s Own Equity (Subtopic 815 – 40) . The amendments in this update simplify the accounting for certain financial instruments with characteristics of liabilities and equity, including convertible instruments and contracts on an entity’s own equity by removing major separation models required under current U.S. GAAP. The amendments also improve the consistency of diluted earnings per share calculations. The amendments in this update are effective for public business entities that meet the definition of an SEC filer, excluding entities eligible to be smaller reporting companies as defined by the SEC, for fiscal years beginning after December 15, 2021, including interim periods within those fiscal years. For all other entities, the amendments are effective for fiscal years beginning after December 15, 2023, including interim periods within those fiscal years. Early adoption is permitted, but no earlier than fiscal years beginning after December 15, 2020, including interim periods within those fiscal years. We are currently evaluating the impact of the standard on our condensed consolidated financial statements. In March 2020, the FASB issued ASU 2020-04, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform of Financial Reporting. The amendments in this update provide optional expedients and exceptions for applying generally accepted accounting principles to contracts, hedging relationships, and other transactions affected by reference rate reform if certain criteria are met. The amendments in this update apply only to contracts, hedging relationships, and other transactions that reference LIBOR or another reference rate expected to be discontinued because of reference rate reform. The expedients and exceptions provided by the amendments do not apply to contract modifications made and hedging relationships entered into or evaluated after December 31, 2022, except for hedging relationships existing as of December 31, 2022, that an entity has elected certain optional expedients for and that are retained through the end of the hedging relationship. The amendments in this update are effective for all entities upon issuance and may be adopted any date on or after March 12, 2020 up to December 31, 2022. We are currently evaluating the impact of the standard on our condensed consolidated financial statements. In December 2019, the FASB issued ASU 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes. The amendments in this update simplify the accounting for income taxes by removing exceptions related to the incremental approach for intra-period tax allocation, certain deferred tax liabilities, and the general methodology for calculating income taxes in an interim period. The amendment also provides simplification related to accounting for franchise (or similar) tax, evaluating the tax basis step up of goodwill, allocation of consolidated current and deferred tax expense, reflection of the impact of enacted tax law or rate changes in annual effective tax rate calculations in the interim period that includes enactment date, and other minor codification improvements. For public business entities, the amendments are effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2020. Early adoption of the amendments is permitted, including adoption in any interim period for public business entities for periods in which financial statements have not yet been issued. We are currently evaluating the impact of the standard on our condensed consolidated financial statements. In November 2018, the FASB issued ASU 2018-19, Codification Improvements to Topic 326: Financial Instruments - Credit Losses. This update is an amendment to the new credit losses standard, ASU 2016-13, Financial Instruments—Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments , that was issued in June 2016 and clarifies that operating lease receivables are not within the scope of Topic 326. The new credit losses standard changes the accounting for credit losses for certain instruments. The new measurement approach is based on expected losses, commonly referred to as the current expected credit loss (CECL) model, and applies to financial assets measured at amortized cost, including loans, held-to-maturity debt securities, net investment in leases, and reinsurance and trade receivables, as well as certain off-balance sheet credit exposures, such as loan commitments. The standard also changes the impairment model for available-for-sale debt securities. The provisions of this standard will primarily impact the allowance for doubtful accounts on our trade receivables, contracts in progress, and potentially our impairment model for available-for-sale debt securities (to the extent we have any upon adoption). For public, smaller reporting companies, this standard is effective for fiscal years beginning after December 15, 2022, including interim periods within those fiscal years. We are currently evaluating the impact of both standards on our condensed consolidated financial statements.

EARNINGS PER SHARE (Tables)

EARNINGS PER SHARE (Tables)	9 Months Ended
	Sep. 30, 2020
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 non-controlling interest: Three months ended September 30, Nine months ended September 30, (in thousands, except per share amounts) 2020 2019 2020 2019 Income (loss) from continuing operations $ 34,724 $ (56,955 ) $ (16,706 ) $ (135,054 ) Income (loss) from discontinued operations, net of tax — — 1,800 694 Net income (loss) attributable to stockholders $ 34,724 $ (56,955 ) $ (14,906 ) $ (134,360 ) Weighted average shares used to calculate basic earnings (loss) per share (1) 49,478 40,879 47,585 25,950 Dilutive effect of stock options, restricted stock and performance units 578 — — — Weighted average shares used to calculate diluted earnings (loss) per share 50,056 40,879 47,585 25,950 Basic earnings (loss) per share Continuing operations $ 0.70 $ (1.39 ) $ (0.35 ) $ (5.21 ) Discontinued operations — — 0.04 0.03 Basic earnings (loss) per share $ 0.70 $ (1.39 ) $ (0.31 ) $ (5.18 ) Diluted earnings (loss) per share Continuing operations $ 0.69 $ (1.39 ) $ (0.35 ) $ (5.21 ) Discontinued operations — — 0.04 0.03 Diluted earnings (loss) per share $ 0.69 $ (1.39 ) $ (0.31 ) $ (5.18 ) (1) Weighted average shares used to calculate basic and diluted earnings (loss) per share reflect the bonus element for the 2019 Rights Offering on July 23, 2019 as described below and the one-for-ten reverse stock split on July 24, 2019

SEGMENT REPORTING (Tables)

SEGMENT REPORTING (Tables)	9 Months Ended
	Sep. 30, 2020
Segment Reporting [Abstract]
Schedule of Segment Reporting Information, by Segment	Adjusted EBITDA for each segment is presented below with a reconciliation to net income (loss) attributable to stockholders. Three months ended September 30, Nine months ended September 30, (in thousands) 2020 2019 2020 2019 Adjusted EBITDA B&W Renewable segment $ 23,575 $ (615 ) $ 22,003 $ (4,185 ) B&W Environmental segment 1,078 1,771 (137 ) 2,453 B&W Thermal segment 7,255 12,871 22,676 34,994 Corporate (4,916 ) (3,059 ) (12,864 ) (16,973 ) Research and development costs (1,355 ) (828 ) (3,927 ) (2,281 ) 25,637 10,140 27,751 14,008 Restructuring activities (2,396 ) (2,556 ) (6,739 ) (9,571 ) Financial advisory services (1,650 ) (1,213 ) (3,161 ) (8,368 ) Settlement cost to exit B&W Renewable contract (1) — — — (6,575 ) Advisory fees for settlement costs and liquidity planning (1,387 ) (2,787 ) (5,156 ) (7,445 ) Litigation legal costs (809 ) (475 ) (1,757 ) (475 ) Stock compensation (1,175 ) (1,271 ) (3,074 ) (2,072 ) Loss from business held for sale (93 ) — (411 ) — Depreciation & amortization (4,056 ) (5,281 ) (12,296 ) (19,123 ) Gain on asset disposals, net 3 266 916 224 Operating income (loss) 14,074 (3,177 ) (3,927 ) (39,397 ) Interest expense, net (12,036 ) (29,351 ) (49,346 ) (66,562 ) Loss on debt extinguishment — — (6,194 ) (3,969 ) Loss on sale of business — — (108 ) (3,601 ) Net pension benefit before MTM 7,328 3,589 22,314 10,350 MTM loss from benefit plans — (18 ) — (1,278 ) Foreign exchange 24,963 (26,735 ) 22,749 (27,382 ) Other – net (276 ) (255 ) (3,068 ) 208 Total other income (expense) 19,979 (52,770 ) (13,653 ) (92,234 ) Income (loss) before income tax (benefit) expense 34,053 (55,947 ) (17,580 ) (131,631 ) Income tax (benefit) expense (502 ) 1,043 (467 ) 3,560 Income (loss) from continuing operations 34,555 (56,990 ) (17,113 ) (135,191 ) Income from discontinued operations, net of tax — — 1,800 694 Net income (loss) 34,555 (56,990 ) (15,313 ) (134,497 ) Net loss attributable to non-controlling interest 169 35 407 137 Net income (loss) attributable to stockholders $ 34,724 $ (56,955 ) $ (14,906 ) $ (134,360 ) (1) In March 2019, we entered into a settlement in connection with an additional B&W Renewable waste-to-energy EPC contract, for which notice to proceed was not given and the contract was not started. The settlement eliminated our obligations to act, and our risk related to acting, as the prime EPC should the project have moved forward. An analysis of our operations by segment is as follows: Three months ended September 30, Nine months ended September 30, (in thousands) 2020 2019 2020 2019 Revenues: B&W Renewable segment B&W Renewable $ 21,253 $ 22,981 $ 70,657 $ 70,487 Vølund 17,809 28,311 47,913 88,414 39,062 51,292 118,570 158,901 B&W Environmental segment B&W Environmental 11,841 31,187 35,289 165,273 SPIG 10,323 9,810 32,510 62,047 GMAB 3,098 4,039 8,555 7,165 25,262 45,036 76,354 234,485 B&W Thermal segment B&W Thermal 70,025 108,157 223,920 315,587 70,025 108,157 223,920 315,587 Eliminations (1,836 ) (5,841 ) (2,380 ) (30,278 ) $ 132,513 $ 198,644 $ 416,464 $ 678,695

REVENUE RECOGNITION AND CONTR_2

REVENUE RECOGNITION AND CONTRACTS (Tables)	9 Months Ended
	Sep. 30, 2020
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) September 30, 2020 December 31, 2019 $ Change % Change Contract assets - included in contracts in progress: Costs incurred less costs of revenue recognized $ 26,359 $ 29,877 $ (3,518 ) (12 )% Revenues recognized less billings to customers 47,523 61,702 (14,179 ) (23 )% Contracts in progress $ 73,882 $ 91,579 $ (17,697 ) (19 )% Contract liabilities - included in advance billings on contracts: Billings to customers less revenues recognized $ 52,410 $ 76,468 $ (24,058 ) (31 )% Costs of revenue recognized less cost incurred 1,636 (1,181 ) 2,817 (239 )% Advance billings on contracts $ 54,046 $ 75,287 $ (21,241 ) (28 )% Net contract balance $ 19,836 $ 16,292 $ 3,544 22 % Accrued contract losses $ 845 $ 6,193 $ (5,348 ) (86 )%
Schedule of Recognized Changes in Estimated Gross Profit	In the three and nine months ended September 30, 2020 and 2019 , we recognized changes in estimated gross profit related to long-term contracts accounted for on the over time basis, which are summarized as follows: Three months ended September 30, Nine months ended September 30, (in thousands) 2020 2019 2020 2019 Increases in gross profits for changes in estimates for over time contracts (1) $ 27,237 $ 10,279 $ 34,453 $ 25,089 Decreases in gross profits for changes in estimates for over time contracts (8,058 ) (13,248 ) (13,003 ) (35,892 ) Net changes in gross profits for changes in estimates for over time contracts $ 19,179 $ (2,969 ) $ 21,450 $ (10,803 ) (1) Increases in gross profits for changes in estimates for over time contracts reflects a non-recurring insurance loss recovery of $26.0 million in the three and nine months ended September 30, 2020 .

INVENTORIES (Tables)

INVENTORIES (Tables)	9 Months Ended
	Sep. 30, 2020
Inventory Disclosure [Abstract]
Schedule of Components of Inventories	The components of inventories are as follows: (in thousands) September 30, 2020 December 31, 2019 Raw materials and supplies $ 47,349 $ 42,685 Work in progress 6,710 7,502 Finished goods 12,907 12,916 Total inventories $ 66,966 $ 63,103

PROPERTY, PLANT & EQUIPMENT, _2

PROPERTY, PLANT & EQUIPMENT, & FINANCE LEASE (Tables)	9 Months Ended
	Sep. 30, 2020
Property, Plant and Equipment [Abstract]
Property, Plant and Equipment and Finance Lease	Property, plant and equipment less accumulated depreciation is as follows: (in thousands) September 30, 2020 December 31, 2019 Land $ 3,053 $ 2,998 Buildings 84,262 84,005 Machinery and equipment 153,592 154,016 Property under construction 6,333 6,204 247,240 247,223 Less accumulated depreciation 187,587 180,562 Net property, plant and equipment 59,653 66,661 Finance lease 30,550 30,405 Less finance lease accumulated amortization 1,558 13 Net property, plant and equipment, and finance lease $ 88,645 $ 97,053

GOODWILL (Tables)

GOODWILL (Tables)	9 Months Ended
	Sep. 30, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Goodwill	The following summarizes the changes in the net carrying amount of goodwill as of December 31, 2019 and September 30, 2020 after giving consideration to the reallocation of goodwill noted above: (in thousands) B&W Renewable B&W Environmental B&W Thermal Total Balance at December 31, 2019 $ 10,169 $ 5,652 $ 31,339 $ 47,160 Currency translation adjustments (5 ) (3 ) (16 ) (24 ) Balance at September 30, 2020 $ 10,164 $ 5,649 $ 31,323 $ 47,136

INTANGIBLE ASSETS (Tables)

INTANGIBLE ASSETS (Tables)	9 Months Ended
	Sep. 30, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Intangible Assets	Our intangible assets are as follows: (in thousands) September 30, 2020 December 31, 2019 Definite-lived intangible assets Customer relationships $ 24,634 $ 24,440 Unpatented technology 15,288 14,917 Patented technology 2,625 2,598 Tradename 12,706 12,372 All other 9,255 9,225 Gross value of definite-lived intangible assets 64,508 63,552 Customer relationships amortization (19,352 ) (18,616 ) Unpatented technology amortization (6,358 ) (5,245 ) Patented technology amortization (2,571 ) (2,476 ) Tradename amortization (4,686 ) (4,257 ) All other amortization (9,155 ) (8,963 ) Accumulated amortization (42,122 ) (39,557 ) Net definite-lived intangible assets $ 22,386 $ 23,995 Indefinite-lived intangible assets Trademarks and trade names $ 1,305 $ 1,305 Total intangible assets, net $ 23,691 $ 25,300
Schedule of Finite-Lived Intangible Assets	The following summarizes the changes in the carrying amount of intangible assets: Nine months ended September 30, (in thousands) 2020 2019 Balance at beginning of period $ 25,300 $ 30,793 Amortization expense (2,564 ) (3,301 ) Currency translation adjustments and other 955 (1,060 ) Balance at end of the period $ 23,691 $ 26,432
Schedule of Indefinite-Lived Intangible Assets	The following summarizes the changes in the carrying amount of intangible assets: Nine months ended September 30, (in thousands) 2020 2019 Balance at beginning of period $ 25,300 $ 30,793 Amortization expense (2,564 ) (3,301 ) Currency translation adjustments and other 955 (1,060 ) Balance at end of the period $ 23,691 $ 26,432
Schedule of Estimated Future Intangible Asset Amortization Expense	Estimated future intangible asset amortization expense is as follows (in thousands): Amortization Expense Year ending December 31, 2020 $ 827 Year ending December 31, 2021 3,188 Year ending December 31, 2022 3,159 Year ending December 31, 2023 3,158 Year ending December 31, 2024 3,086 Year ending December 31, 2025 2,567 Thereafter 6,401

LEASES (Tables)

LEASES (Tables)	9 Months Ended
	Sep. 30, 2020
Leases [Abstract]
Components of Lease Cost	The components of lease expense included on our Condensed Consolidated Statements of Operations were as follows: Three months ended September 30, Nine months ended September 30, (in thousands) Classification 2020 2019 2020 2019 Operating lease expense: Operating lease expense Selling, general and administrative expenses $ 1,433 $ 1,569 $ 4,329 $ 5,067 Short-term lease expense Selling, general and administrative expenses 866 1,193 1,346 6,153 Variable lease expense (1) Selling, general and administrative expenses 625 121 1,019 682 Total operating lease expense $ 2,924 $ 2,883 $ 6,694 $ 11,902 Finance lease expense: Amortization of right-of-use assets Selling, general and administrative expenses $ 517 $ — $ 1,546 $ — Interest on lease liabilities Interest expense 612 — 1,843 — Total finance lease expense $ 1,129 $ — $ 3,389 $ — Sublease income (2) Other – net $ (22 ) $ (22 ) $ (65 ) $ (46 ) Net lease cost $ 4,031 $ 2,861 $ 10,018 $ 11,856 (1) Variable lease expense primarily consists of common area maintenance expenses paid directly to lessors of real estate leases. (2) Sublease income excludes rental income from owned properties, which is not material. Other information related to leases is as follows: (in thousands) September 30, 2020 December 31, 2019 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 4,275 $ 6,578 Operating cash flows from finance leases 1,843 14 Financing cash flows from finance leases (208 ) (12 ) Right-of-use assets obtained in exchange for lease liabilities: Operating leases $ 1,525 $ 3,014 Finance leases $ 146 $ 30,404 Weighted-average remaining lease term: Operating leases (in years) 3.1 3.4 Finance leases (in years) 14.2 15.0 Weighted-average discount rate: Operating leases 9.10 % 9.27 % Finance leases 8.00 % 8.00 %
Supplemental Balance Sheet Information	Amounts relating to leases were presented on our Condensed Consolidated Balance Sheets in the following line items: (in thousands) Assets: Classification September 30, 2020 December 31, 2019 Operating lease assets Right-of-use assets $ 10,272 $ 12,498 Finance lease assets Net property, plant and equipment, and finance lease 28,992 30,392 Total non-current lease assets $ 39,264 $ 42,890 Liabilities: Current Operating lease liabilities Operating lease liabilities $ 3,968 $ 4,323 Finance lease liabilities Financing lease liabilities 852 (38 ) Non-current Operating lease liabilities Non-current operating lease liabilities 6,381 8,388 Finance lease liabilities Non-current finance lease liabilities 29,917 30,454 Total lease liabilities $ 41,118 $ 43,127
Operating Lease Maturity	Future minimum lease payments required under non-cancellable leases as of September 30, 2020 were as follows: (in thousands) Operating Leases Finance Leases Total 2020 (excluding the nine months ended September 30, 2020) $ 1,312 $ 803 $ 2,115 2021 4,246 3,277 7,523 2022 3,003 3,342 6,345 2023 1,992 3,408 5,400 2024 1,151 3,473 4,624 Thereafter 108 38,285 38,393 Total $ 11,812 $ 52,588 $ 64,400 Less imputed interest (1,463 ) (21,819 ) (23,282 ) Lease liability $ 10,349 $ 30,769 $ 41,118
Finance Lease Maturity	Future minimum lease payments required under non-cancellable leases as of September 30, 2020 were as follows: (in thousands) Operating Leases Finance Leases Total 2020 (excluding the nine months ended September 30, 2020) $ 1,312 $ 803 $ 2,115 2021 4,246 3,277 7,523 2022 3,003 3,342 6,345 2023 1,992 3,408 5,400 2024 1,151 3,473 4,624 Thereafter 108 38,285 38,393 Total $ 11,812 $ 52,588 $ 64,400 Less imputed interest (1,463 ) (21,819 ) (23,282 ) Lease liability $ 10,349 $ 30,769 $ 41,118

ACCRUED WARRANTY EXPENSE (Table

ACCRUED WARRANTY EXPENSE (Tables)	9 Months Ended
	Sep. 30, 2020
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: Nine months ended September 30, (in thousands) 2020 2019 Balance at beginning of period $ 33,376 $ 45,117 Additions 4,508 4,793 Expirations and other changes (3,523 ) (5,172 ) Payments (8,410 ) (7,848 ) Translation and other 852 (1,292 ) Balance at end of period $ 26,803 $ 35,598

RESTRUCTURING ACTIVITIES (Table

RESTRUCTURING ACTIVITIES (Tables)	9 Months Ended
	Sep. 30, 2020
Restructuring and Related Activities [Abstract]
Activity Related to the Restructuring Liabilities	Activity related to the restructuring liabilities is as follows: Three months ended September 30, Nine months ended September 30, (in thousands) 2020 2019 2020 2019 Balance at beginning of period $ 5,087 $ 6,974 $ 5,359 $ 7,359 Restructuring expense 2,396 2,557 6,739 9,572 Payments (2,307 ) (2,957 ) (6,922 ) (10,357 ) Balance at end of period $ 5,176 $ 6,574 $ 5,176 $ 6,574 The following tables summarize the restructuring activity incurred by segment: Three months ended September 30, Three months ended September 30, 2020 2019 (in thousands) Total Severance and related costs COVID-19 related costs Other (1) Severance and related costs B&W Renewable segment $ 594 $ 340 $ 23 $ 231 $ 414 B&W Environmental segment 299 119 52 128 193 B&W Thermal segment 1,370 422 92 856 805 Corporate 133 — 2 131 1,144 $ 2,396 $ 881 $ 169 $ 1,346 $ 2,556 Nine months ended September 30, Nine months ended September 30, 2020 2019 (in thousands) Total Severance and related costs COVID-19 related costs Other (1) Severance and related costs B&W Renewable segment $ 2,346 $ 1,153 $ 657 $ 536 $ 1,888 B&W Environmental segment 676 330 78 268 2,029 B&W Thermal segment 3,259 1,111 282 1,866 2,986 Corporate 458 — 94 364 2,668 $ 6,739 $ 2,594 $ 1,111 $ 3,034 $ 9,571 (1) Other amounts consist primarily of exit, relocation and other costs.

PENSION PLANS AND OTHER POSTR_2

PENSION PLANS AND OTHER POSTRETIREMENT BENEFITS (Tables)	9 Months Ended
	Sep. 30, 2020
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 September 30, Nine months ended September 30, Three months ended September 30, Nine months ended September 30, (in thousands) 2020 2019 2020 2019 2020 2019 2020 2019 Interest cost $ 8,263 $ 10,685 $ 24,773 $ 32,507 $ 88 $ 139 $ 232 $ 378 Expected return on plan assets (15,452 ) (13,901 ) (46,636 ) (41,700 ) — — — — Amortization of prior service cost 44 28 130 83 (271 ) (540 ) (813 ) (1,618 ) Recognized net actuarial (gain) loss — 18 — 1,278 — — — — Benefit plans, net (1) (7,145 ) (3,170 ) (21,733 ) (7,832 ) (183 ) (401 ) (581 ) (1,240 ) Service cost included in COS (2) 212 346 632 646 5 4 14 12 Net periodic benefit cost (benefit) $ (6,933 ) $ (2,824 ) $ (21,101 ) $ (7,186 ) $ (178 ) $ (397 ) $ (567 ) $ (1,228 ) (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 operations in the Condensed Consolidated Statement of Operations and is allocated to the B&W Thermal segment.

LAST OUT TERM LOANS (Tables)

LAST OUT TERM LOANS (Tables)	9 Months Ended
	Sep. 30, 2020
Debt Disclosure [Abstract]
Schedule of Debt	The components of the Last Out Term Loans by Tranche are as follows: September 30, 2020 (in thousands) A-3 A-4 A-6 Total Proceeds (1) $ 101,660 $ 30,000 $ 30,000 $ 161,660 Discount and fees 8,650 — — 8,650 Paid-in-kind interest 3,020 — — 3,020 Net debt balance $ 113,330 $ 30,000 $ 30,000 $ 173,330 (1) Tranche A-3 proceeds represent the net proceeds after the $39.7 million principal prepayment of the tranche as of July 23, 2019, the date of the Equitization Transactions. December 31, 2019 (in thousands) A-3 Proceeds (1) $ 101,660 Discount and fees 8,650 Paid-in-kind interest 3,020 Principal 113,330 Unamortized discount and fees (9,377 ) Net debt balance $ 103,953 (1) Tranche A-3 proceeds represent the net proceeds after the $39.7 million principal prepayment of the tranche as of July 23, 2019, the date of the Equitization Transactions.

INTEREST EXPENSE AND SUPPLEME_2

INTEREST EXPENSE AND SUPPLEMENTAL CASH FLOW INFORMATION (Tables)	9 Months Ended
	Sep. 30, 2020
Supplemental Cash Flow Information [Abstract]
Summary of Interest Expenses	Interest expense in our Condensed Consolidated Financial Statements consisted of the following components: Three months ended September 30, Nine months ended September 30, (in thousands) 2020 2019 2020 2019 Components associated with borrowings from: U.S. Revolving Credit Facility $ 3,382 $ 4,292 $ 10,830 $ 11,644 Last Out Term Loans - cash interest — 3,613 6,140 7,732 Last Out Term Loans - equitized interest 5,315 — 8,031 — Last Out Term Loans - paid-in-kind interest — 1,024 — 5,964 8,697 8,929 25,001 25,340 Components associated with amortization or accretion of: U.S. Revolving Credit Facility - deferred financing fees and commitment fees 1,711 8,836 14,376 22,985 U.S. Revolving Credit Facility contingent consent fee for Amendment 16 — 5,011 — 9,686 U.S. Revolving Credit Facility - deferred ticking fee for Amendment 16 — — 1,660 — Last Out Term Loans - discount and financing fees (545 ) 6,445 3,183 8,514 1,166 20,292 19,219 41,185 Other interest expense 2,340 242 5,556 909 Total interest expense $ 12,203 $ 29,463 $ 49,776 $ 67,434
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) September 30, 2020 December 31, 2019 September 30, 2019 December 31, 2018 Held by foreign entities $ 36,848 $ 38,921 $ 30,590 $ 35,522 Held by U.S. entities 2,086 4,851 1,473 7,692 Cash and cash equivalents of continuing operations 38,934 43,772 32,063 43,214 Reinsurance reserve requirements 3,443 9,318 8,802 11,768 Restricted foreign accounts 2,752 3,851 2,480 5,297 Bank guarantee collateral 3,240 — — — Restricted cash and cash equivalents 9,435 13,169 11,282 17,065 Total cash, cash equivalents and restricted cash shown in the Condensed Consolidated Statements of Cash Flows $ 48,369 $ 56,941 $ 43,345 $ 60,279
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) September 30, 2020 December 31, 2019 September 30, 2019 December 31, 2018 Held by foreign entities $ 36,848 $ 38,921 $ 30,590 $ 35,522 Held by U.S. entities 2,086 4,851 1,473 7,692 Cash and cash equivalents of continuing operations 38,934 43,772 32,063 43,214 Reinsurance reserve requirements 3,443 9,318 8,802 11,768 Restricted foreign accounts 2,752 3,851 2,480 5,297 Bank guarantee collateral 3,240 — — — Restricted cash and cash equivalents 9,435 13,169 11,282 17,065 Total cash, cash equivalents and restricted cash shown in the Condensed Consolidated Statements of Cash Flows $ 48,369 $ 56,941 $ 43,345 $ 60,279
Schedule of Other Significant Noncash Transactions	The following cash activity is presented as a supplement to our Condensed Consolidated Statements of Cash Flows and is included in Net cash used in activities : Nine months ended September 30, (in thousands) 2020 2019 Income tax payments, net $ 3,967 $ 304 Interest payments on our U.S. Revolving Credit Facility $ 8,280 $ 9,748 Interest payments on our Last Out Term Loans 6,140 4,909 Total cash paid for interest $ 14,420 $ 14,657

COMPREHENSIVE INCOME (Tables)

COMPREHENSIVE INCOME (Tables)	9 Months Ended
	Sep. 30, 2020
Equity [Abstract]
Schedule of Accumulated Other Comprehensive Income (Loss)	The changes in the components of AOCI, net of tax, for the first two quarters of 2020 and 2019 were as follows: (in thousands) Currency translation (loss) gain Net unrecognized loss related to benefit plans (net of tax) Total Balance at December 31, 2019 $ 5,743 $ (3,817 ) $ 1,926 Other comprehensive income (loss) before reclassifications 2,380 — 2,380 Reclassified from AOCI to net income (loss) — (246 ) (246 ) Net other comprehensive income (loss) 2,380 (246 ) 2,134 Balance at March 31, 2020 $ 8,123 $ (4,063 ) $ 4,060 Other comprehensive income (loss) before reclassifications (4,095 ) — (4,095 ) Reclassified from AOCI to net income (loss) — (246 ) (246 ) Net other comprehensive income (loss) (4,095 ) (246 ) (4,341 ) Balance at June 30, 2020 $ 4,028 $ (4,309 ) $ (281 ) Other comprehensive income (loss) before reclassifications (22,916 ) — (22,916 ) Reclassified from AOCI to net income (loss) — (246 ) (246 ) Net other comprehensive income (loss) (22,916 ) (246 ) (23,162 ) Balance at September 30, 2020 $ (18,888 ) $ (4,555 ) $ (23,443 ) (in thousands) Currency translation (loss) gain Net unrealized gain (loss) on derivative instruments Net unrecognized loss 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 ) Other comprehensive loss before reclassifications (7,979 ) (189 ) — (8,168 ) Reclassified from AOCI to net income (loss) 3,176 (22 ) (514 ) 2,640 Net other comprehensive (loss) income (4,803 ) (211 ) (514 ) (5,528 ) Balance at June 30, 2019 $ (5,377 ) $ 197 $ (2,830 ) $ (8,010 ) Other comprehensive loss before reclassifications 21,433 $ — $ — 21,433 Reclassified from AOCI to net income (loss) — $ — $ (515 ) (515 ) Amounts reclassified from AOCI to advanced billings on contracts — (197 ) — (197 ) Net other comprehensive (loss) income 21,433 (197 ) (515 ) 20,721 Balance at September 30, 2019 $ 16,056 $ — $ (3,345 ) $ 12,711
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 September 30, Nine months ended September 30, 2020 2019 2020 2019 Release of currency translation gain with the sale of equity method investment and the sale of business Loss on sale of business $ — $ — $ — $ (3,176 ) Derivative financial instruments Other – net — — — (202 ) Net loss $ — $ — $ — $ (3,378 ) Amortization of prior service cost on benefit obligations Benefit plans, net 246 515 738 1,385 Net income $ 246 $ 515 $ 738 $ 1,385

FAIR VALUE MEASUREMENTS (Tables

FAIR VALUE MEASUREMENTS (Tables)	9 Months Ended
	Sep. 30, 2020
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 September 30, 2020 Level 1 Level 2 Corporate notes and bonds $ 10,612 $ 10,612 $ — Mutual funds 577 — 577 United States Government and agency securities 6,132 6,132 — Total fair value of available-for-sale securities $ 17,321 $ 16,744 $ 577 (in thousands) Available-for-sale securities December 31, 2019 Level 1 Level 2 Corporate notes and bonds $ 8,310 $ 8,310 $ — Mutual funds 587 — 587 United States Government and agency securities 3,868 3,868 — Total fair value of available-for-sale securities $ 12,765 $ 12,178 $ 587

ASSETS HELD FOR SALE, DIVESTI_2

ASSETS HELD FOR SALE, DIVESTITURES AND DISCONTINUED OPERATIONS (Tables)	9 Months Ended
	Sep. 30, 2020
Business Combinations [Abstract]
Carrying Value of Assets and Liabilities Held for Sale	The following table summarizes the carrying value of the assets and liabilities held for sale at September 30, 2020 and December 31, 2019 : (in thousands) September 30, 2020 December 31, 2019 Accounts receivable – trade, net $ 1,527 $ 5,472 Accounts receivable – other 77 147 Contracts in progress 797 586 Inventories 2,292 1,555 Other current assets 123 329 Current assets held for sale 4,816 8,089 Net property, plant and equipment 6,793 6,534 Intangible assets 732 725 Right-of-use-asset 57 63 Other assets (39 ) — Non-current assets held for sale 7,543 7,322 Total assets held for sale $ 12,359 $ 15,411 Accounts payable $ 5,352 $ 7,898 Accrued employee benefits 317 430 Advance billings on contracts 76 227 Accrued warranty expense 517 515 Operating lease liabilities 33 6 Other accrued liabilities 630 462 Current liabilities held for sale 6,925 9,538 Total liabilities held for sale $ 6,925 $ 9,538

BASIS OF PRESENTATION (Details)

BASIS OF PRESENTATION (Details) $ in Millions	Oct. 30, 2020	Oct. 23, 2020USD ($)	May 14, 2020USD ($)	Apr. 06, 2020USD ($)	Mar. 27, 2020USD ($)	Mar. 17, 2020USD ($)	Jan. 31, 2020USD ($)	Apr. 30, 2020	Sep. 30, 2020USD ($)	Oct. 10, 2020USD ($)
Debt Instrument [Line Items]
Amount received after remaining escrow is settled				$ 3.5		$ 4.5
Percent reduction of deferred cash compensation								50.00%
2020 Plan
Debt Instrument [Line Items]
Deferred contribution payments					$ 5.5
2018 Plan
Debt Instrument [Line Items]
Deferred contribution payments					1.1
2019 Plan
Debt Instrument [Line Items]
Deferred contribution payments					$ 23.7
Period for deferred contribution payment to be funded over					5 years
Chief Strategy Officer
Debt Instrument [Line Items]
Percentage reduction of base salaries								50.00%
Chief Financial Officer
Debt Instrument [Line Items]
Percentage reduction of base salaries								30.00%
Senior Vice President
Debt Instrument [Line Items]
Percentage reduction of base salaries								30.00%
Subsequent Event
Debt Instrument [Line Items]
Proceeds from insurance settlement		$ 26
Permanent reduction of revolving credit facility		50.00%
Five of Six European Renewable Project
Debt Instrument [Line Items]
Insurance settlements receivable									$ 26
Five of Six European Renewable Project | Subsequent Event
Debt Instrument [Line Items]
Insurance settlements receivable		$ 26								$ 26
Proceeds from insurance settlement		$ 26
BPRI Executive Consulting, LLC | Chief Executive Officer
Debt Instrument [Line Items]
Deferral percentage of monthly fee payment								50.00%
Amended Credit Agreement | Last Out Term Loan Tranche A-4 | B. Riley Financial, Inc.
Debt Instrument [Line Items]
Proceeds from related party							$ 30
A&R Credit Agreement | Subsequent Event
Debt Instrument [Line Items]
Permanent reduction of revolving credit facility	50.00%
A&R Credit Agreement | Quarter Ending December 31, 2020 | Subsequent Event
Debt Instrument [Line Items]
Interest coverage ratio	0.50
A&R Credit Agreement | Quarter Ending March 31, 2022 | Subsequent Event
Debt Instrument [Line Items]
Interest coverage ratio	1.25
A&R Credit Agreement | Maximum | Quarter Ending December 31, 2020 | Subsequent Event
Debt Instrument [Line Items]
Senior debt leverage ratio	7.75
A&R Credit Agreement | Maximum | Quarter Ending March 31, 2022 | Subsequent Event
Debt Instrument [Line Items]
Senior debt leverage ratio	2.25
A&R Credit Agreement | Last Out Term Loan Tranche A-6 | B. Riley Financial, Inc.
Debt Instrument [Line Items]
Proceeds from related party			$ 30						$ 70

EARNINGS PER SHARE - Computatio

EARNINGS PER SHARE - Computation of Basic and Diluted Earnings Per Share (Details) $ / shares in Units, shares in Thousands, $ in Thousands	Jul. 24, 2019	Sep. 30, 2020USD ($)$ / sharesshares	Sep. 30, 2019USD ($)$ / sharesshares	Sep. 30, 2020USD ($)$ / sharesshares	Sep. 30, 2019USD ($)$ / sharesshares
Earnings Per Share [Abstract]
Income (loss) from continuing operations | $		$ 34,724	$ (56,955)	$ (16,706)	$ (135,054)
Income (loss) from discontinued operations, net of tax | $		0	0	1,800	694
Net income (loss) attributable to stockholders | $		$ 34,724	$ (56,955)	$ (14,906)	$ (134,360)
Weighted average shares used to calculate basic earnings (loss) per share (in shares) | shares		49,478	40,879	47,585	25,950
Dilutive effect of stock options, restricted stock and performance units (in shares) | shares		578	0	0	0
Weighted average shares used to calculate diluted earnings (loss) per share (in shares) | shares		50,056	40,879	47,585	25,950
Basic earnings (loss) per share
Continuing operations (in dollars per share)		$ 0.70	$ (1.39)	$ (0.35)	$ (5.21)
Discontinued operations (in dollars per share)		0	0	0.04	0.03
Basic earnings (loss) per share (in dollars per share)		0.70	(1.39)	(0.31)	(5.18)
Diluted earnings (loss) per share
Continuing operations (in dollars per share)		0.69	(1.39)	(0.35)	(5.21)
Discontinued operations (in dollars per share)		0	0	0.04	0.03
Diluted earnings (loss) per share (in dollars per share)		$ 0.69	$ (1.39)	$ (0.31)	$ (5.18)
Reverse stock split	0.1

EARNINGS PER SHARE - Additional

EARNINGS PER SHARE - Additional Information (Details)	1 Months Ended	3 Months Ended		9 Months Ended
	Jul. 31, 2019factor	Sep. 30, 2020shares	Sep. 30, 2019shares	Sep. 30, 2020shares	Sep. 30, 2019shares
Earnings Per Share [Abstract]
Factor for retroactive adjustment | factor	1.0875
Weighted average shares outstanding prior to the rights offering (in shares)			8,140,000		13,938,000
Excluded shares from the WAS to calculated diluted EPS as company was in a net loss position (in shares)			141,300	422,300	71,000
Antidilutive securities excluded from computation of EPS (in shares)		1,100,000	300,000	1,300,000	300,000

SEGMENT REPORTING - Narrative (

SEGMENT REPORTING - Narrative (Details)	9 Months Ended
	Sep. 30, 2020segment
Segment Reporting [Abstract]
Number of reportable segments	3

SEGMENT REPORTING - Schedule of

SEGMENT REPORTING - Schedule of Operating Results by Segment (Details) $ in Thousands, £ in Millions	Apr. 05, 2019USD ($)	Apr. 05, 2019GBP (£)	Sep. 30, 2020USD ($)	Jun. 30, 2020USD ($)	Mar. 31, 2020USD ($)	Sep. 30, 2019USD ($)	Jun. 30, 2019USD ($)	Mar. 31, 2019USD ($)	Sep. 30, 2020USD ($)	Sep. 30, 2019USD ($)
Segment Reporting Information [Line Items]
Revenues			$ 132,513			$ 198,644			$ 416,464	$ 678,695
Adjusted EBITDA			25,637			10,140			27,751	14,008
Research and development costs			(1,355)			(828)			(3,927)	(2,281)
Restructuring activities			(2,396)			(2,556)			(6,739)	(9,571)
Financial advisory services			(1,650)			(1,213)			(3,161)	(8,368)
Settlement cost to exit B&W Renewable contract	$ (6,600)	£ (5)	0			0			0	(6,575)
Advisory fees for settlement costs and liquidity planning			(1,387)			(2,787)			(5,156)	(7,445)
Litigation legal costs			(809)			(475)			(1,757)	(475)
Stock compensation			(1,175)			(1,271)			(3,074)	(2,072)
Loss from business held for sale			(93)			0			(411)	0
Depreciation & amortization			(4,056)			(5,281)			(12,296)	(19,123)
Gain on asset disposals, net			3			266			916	224
Operating income (loss)			14,074			(3,177)			(3,927)	(39,397)
Interest expense, net			(12,036)			(29,351)			(49,346)	(66,562)
Loss on debt extinguishment			0	$ (6,200)		0			(6,194)	(3,969)
Loss on sale of business			0			0			(108)	(3,601)
Net pension benefit before MTM			7,328			3,589			22,314	10,350
MTM loss from benefit plans			0			(18)			0	(1,278)
Foreign exchange			24,963			(26,735)			22,749	(27,382)
Other – net			(276)			(255)			(3,068)	208
Total other income (expense)			19,979			(52,770)			(13,653)	(92,234)
Income (loss) before income tax (benefit) expense			34,053			(55,947)			(17,580)	(131,631)
Income tax (benefit) expense			(502)			1,043			(467)	3,560
Income (loss) from continuing operations			34,555			(56,990)			(17,113)	(135,191)
Income from discontinued operations, net of tax			0			0			1,800	694
Net income (loss)			34,555	$ (18,246)	$ (31,622)	(56,990)	$ (27,641)	$ (49,866)	(15,313)	(134,497)
Net loss attributable to non-controlling interest			169			35			407	137
Net income (loss) attributable to stockholders			34,724			(56,955)			(14,906)	(134,360)
Eliminations
Segment Reporting Information [Line Items]
Revenues			(1,836)			(5,841)			(2,380)	(30,278)
Corporate
Segment Reporting Information [Line Items]
Adjusted EBITDA			(4,916)			(3,059)			(12,864)	(16,973)
Research and development costs
Segment Reporting Information [Line Items]
Research and development costs			(1,355)			(828)			(3,927)	(2,281)
B&W Renewable segment | Operating Segments
Segment Reporting Information [Line Items]
Revenues			39,062			51,292			118,570	158,901
Adjusted EBITDA			23,575			(615)			22,003	(4,185)
B&W Renewable segment | Operating Segments | B&W Renewable
Segment Reporting Information [Line Items]
Revenues			21,253			22,981			70,657	70,487
B&W Renewable segment | Operating Segments | Vølund
Segment Reporting Information [Line Items]
Revenues			17,809			28,311			47,913	88,414
B&W Environmental segment | Operating Segments
Segment Reporting Information [Line Items]
Revenues			25,262			45,036			76,354	234,485
Adjusted EBITDA			1,078			1,771			(137)	2,453
B&W Environmental segment | Operating Segments | B&W Environmental
Segment Reporting Information [Line Items]
Revenues			11,841			31,187			35,289	165,273
B&W Environmental segment | Operating Segments | SPIG
Segment Reporting Information [Line Items]
Revenues			10,323			9,810			32,510	62,047
B&W Environmental segment | Operating Segments | GMAB
Segment Reporting Information [Line Items]
Revenues			3,098			4,039			8,555	7,165
B&W Thermal segment | Operating Segments
Segment Reporting Information [Line Items]
Revenues			70,025			108,157			223,920	315,587
Adjusted EBITDA			7,255			12,871			22,676	34,994
B&W Thermal segment | Operating Segments | B&W Thermal
Segment Reporting Information [Line Items]
Revenues			$ 70,025			$ 108,157			$ 223,920	$ 315,587

REVENUE RECOGNITION AND CONTR_3

REVENUE RECOGNITION AND CONTRACTS - Revenue Recognition (Details) - segment	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Number of reportable segments			3
Transferred at Point in Time
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Percent of revenue	34.00%	25.00%	32.00%	20.00%
Transferred over Time
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Percent of revenue	66.00%	75.00%	68.00%	80.00%

REVENUE RECOGNITION AND CONTR_4

REVENUE RECOGNITION AND CONTRACTS - Contract Assets and Liabilities (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019	Dec. 31, 2019
Contract assets - included in contracts in progress:
Costs incurred less costs of revenue recognized			$ 26,359		$ 29,877
Revenues recognized less billings to customers			47,523		61,702
Contracts in progress	$ 73,882		73,882		91,579
Contract liabilities - included in advance billings on contracts:
Billings to customers less revenues recognized			52,410		76,468
Costs of revenue recognized less cost incurred			1,636		(1,181)
Advance billings on contracts	54,046		54,046		75,287
Net contract balance			19,836		16,292
Accrued contract losses			845		$ 6,193
Transferred over Time
Contract liabilities - included in advance billings on contracts:
Increases in gross profits for changes in estimates for over time contracts	27,237	$ 10,279	34,453	$ 25,089
Decreases in gross profits for changes in estimates for over time contracts	(8,058)	(13,248)	(13,003)	(35,892)
Net changes in gross profits for changes in estimates for over time contracts	19,179	$ (2,969)	21,450	$ (10,803)
Accounting Standards Update 2014-09 | Topic 606
Contract assets - included in contracts in progress:
Costs incurred less costs of revenue recognized			$ (3,518)
Costs incurred less costs of revenue recognized, % Change			(12.00%)
Revenues recognized less billings to customers			$ (14,179)
Revenues recognized less billings to customers, % Change			(23.00%)
Contracts in progress	$ (17,697)		$ (17,697)
Contracts in progress, % Change	(19.00%)		(19.00%)
Contract liabilities - included in advance billings on contracts:
Billings to customers less revenues recognized			$ (24,058)
Billings to customers less revenues recognized, % Change			(31.00%)
Costs of revenue recognized less cost incurred			$ 2,817
Costs of revenue recognized less cost incurred, % Change			(239.00%)
Advance billings on contracts	$ (21,241)		$ (21,241)
Advance billings on contracts, % Change	(28.00%)		(28.00%)
Net contract balance			$ 3,544
Net contract balance, % Change			22.00%
Accrued contract losses			$ (5,348)
Accrued contract losses, % Change			(86.00%)
Five of Six European Renewable Project
Contract liabilities - included in advance billings on contracts:
Insurance settlements receivable	$ 26,000		$ 26,000

REVENUE RECOGNITION AND CONTR_5

REVENUE RECOGNITION AND CONTRACTS - Backlog (Details) $ in Millions	Sep. 30, 2020USD ($)
Revenue from Contract with Customer [Abstract]
Remaining performance obligation	$ 509
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2020-10-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligations (as a percent)	18.30%
Expected timing of satisfaction, period	3 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)	34.60%
Expected timing of satisfaction, period	12 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligations (as a percent)	47.10%
Expected timing of satisfaction, period

REVENUE RECOGNITION AND CONTR_6

REVENUE RECOGNITION AND CONTRACTS - B&W Renewable EPC Loss Contracts (Details) £ in Millions	Oct. 23, 2020USD ($)	Apr. 05, 2019USD ($)	Apr. 05, 2019GBP (£)	Jun. 30, 2019USD ($)	Jun. 30, 2019GBP (£)	Sep. 30, 2020USD ($)	Dec. 31, 2019USD ($)	Sep. 30, 2019USD ($)	Dec. 31, 2018USD ($)	Sep. 30, 2020USD ($)contract	Sep. 30, 2019USD ($)	Oct. 31, 2021contract	Oct. 10, 2020USD ($)	Dec. 31, 2017contract
Disaggregation of Revenue [Line Items]
Number of contracts in a loss position | contract														6
Renewable loss contracts, net gain (loss) recognized on changes in estimated revenues and costs						$ (1,100,000)		$ (700,000)		$ (1,400,000)	$ (8,000,000)
Number of contracts with an increase in estimates of anticipated liquidated damages | contract										6
Increase (decrease) in estimate of liquidated damages						0		(1,800,000)		$ 0	(2,200,000)
Estimate of anticipated liquidated damages						92,700,000		86,300,000		92,700,000	86,300,000
Settlement cost to exit B&W Renewable contract		$ 6,600,000	£ 5			0		0		0	$ 6,575,000
Subsequent Event
Disaggregation of Revenue [Line Items]
Number of contracts in a loss position | contract												6
Proceeds from insurance settlement	$ 26,000,000
Permanent reduction of revolving credit facility	50.00%
Proceeds from insurance settlement applied as permanent reduction to credit facility	$ 8,000,000
Fifth European Renewable project
Disaggregation of Revenue [Line Items]
Estimate of anticipated liquidated damages						14,300,000				$ 14,300,000
Payment for limiting obligations		91,500,000	£ 70	$ 3,500,000	£ 2.8
Rejection clause		$ 144,000,000
Rejection clause settlement reserve									$ 81,100,000
Percentage of completion on European renewable energy project										100.00%	98.00%
Change in construction cost estimates								900,000		$ 400,000	$ 2,600,000
Reserve for estimated contract losses						0				0
Contract, accrued losses								3,400,000			$ 3,400,000
Structural steel beam costs										36,000,000
First European renewable project
Disaggregation of Revenue [Line Items]
Estimate of anticipated liquidated damages						9,500,000				$ 9,500,000
Percentage of completion on European renewable energy project										100.00%	98.00%
Change in construction cost estimates						(1,100,000)		(300,000)		$ (1,900,000)	$ (2,300,000)
Reserve for estimated contract losses						0				0
Contract, accrued losses								1,600,000			$ 1,600,000
Second European renewable project
Disaggregation of Revenue [Line Items]
Estimate of anticipated liquidated damages						20,000,000				$ 20,000,000
Percentage of completion on European renewable energy project										100.00%	100.00%
Change in construction cost estimates						0		(700,000)		$ (100,000)	$ (2,600,000)
Contract, accrued losses								(200,000)			$ (200,000)
Third European renewable project
Disaggregation of Revenue [Line Items]
Estimate of anticipated liquidated damages						7,100,000				$ 7,100,000
Percentage of completion on European renewable energy project										100.00%	100.00%
Change in construction cost estimates						0				$ 0
Reserve for estimated contract losses						0				0
Contract, accrued losses								0			$ 0
Reduction (increase) in estimated contract losses at completion								0			$ 0
Fourth European renewable project
Disaggregation of Revenue [Line Items]
Estimate of anticipated liquidated damages						21,800,000				$ 21,800,000
Percentage of completion on European renewable energy project										100.00%	99.00%
Change in construction cost estimates						(100,000)				$ (300,000)
Reserve for estimated contract losses						0				0
Contract, accrued losses								300,000			$ 300,000
Reduction (increase) in estimated contract losses at completion								(400,000)			$ (4,800,000)
Sixth European renewable project
Disaggregation of Revenue [Line Items]
Estimate of anticipated liquidated damages						20,000,000				$ 20,000,000
Percentage of completion on European renewable energy project										100.00%	100.00%
Change in construction cost estimates						100,000		(100,000)		$ 500,000	$ (1,000,000)
Reserve for estimated contract losses						(100,000)				(100,000)
Contract, accrued losses								100,000			100,000
Other renewable energy projects
Disaggregation of Revenue [Line Items]
Renewable loss contracts, net gain (loss) recognized on changes in estimated revenues and costs							$ (200,000)
Change in construction cost estimates						(3,000,000)		$ (1,500,000)		(3,000,000)	$ (3,000,000)
Five of Six European Renewable Project
Disaggregation of Revenue [Line Items]
Insurance settlements receivable						$ 26,000,000				$ 26,000,000
Five of Six European Renewable Project | Subsequent Event
Disaggregation of Revenue [Line Items]
Proceeds from insurance settlement	26,000,000
Insurance settlements receivable	$ 26,000,000												$ 26,000,000

REVENUE RECOGNITION AND CONTR_7

REVENUE RECOGNITION AND CONTRACTS - SPIG's Loss Contract (Details)	3 Months Ended		9 Months Ended
	Sep. 30, 2020USD ($)contract	Sep. 30, 2019USD ($)	Sep. 30, 2020USD ($)contract	Sep. 30, 2019USD ($)	Dec. 31, 2017contract
Disaggregation of Revenue [Line Items]
Number of contracts in a loss position | contract					6
Renewable loss contracts, net gain (loss) recognized on changes in estimated revenues and costs	$ (1,100,000)	$ (700,000)	$ (1,400,000)	$ (8,000,000)
B&W Thermal segment
Disaggregation of Revenue [Line Items]
Number of contracts in a loss position | contract	2		2
Renewable loss contracts, net gain (loss) recognized on changes in estimated revenues and costs	$ (1,300,000)	$ 0	$ (1,300,000)
B&W Thermal segment | Second SPIG Contract
Disaggregation of Revenue [Line Items]
Renewable loss contracts, net gain (loss) recognized on changes in estimated revenues and costs				$ 700,000
Percent complete	97.00%	98.00%	97.00%	98.00%
Reserve for estimated contract losses	$ 200,000		$ 200,000
Contract, accrued losses		$ 100,000		$ 100,000
Additional contract charges			$ 3,300,000
B&W Thermal segment | First SPIG Contract
Disaggregation of Revenue [Line Items]
Percent complete	100.00%	97.00%	100.00%	97.00%
Reserve for estimated contract losses	$ 0		$ 0
Contract, accrued losses		$ 500,000		$ 500,000

INVENTORIES (Details)

INVENTORIES (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Inventory Disclosure [Abstract]
Raw materials and supplies	$ 47,349	$ 42,685
Work in progress	6,710	7,502
Finished goods	12,907	12,916
Total inventories	$ 66,966	$ 63,103

PROPERTY, PLANT & EQUIPMENT, _3

PROPERTY, PLANT & EQUIPMENT, & FINANCE LEASE (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Property, Plant and Equipment [Line Items]
Property, plant and equipment - gross	$ 247,240	$ 247,223
Less accumulated depreciation	187,587	180,562
Net property, plant and equipment	59,653	66,661
Finance lease	30,550	30,405
Less finance lease accumulated amortization	1,558	13
Net property, plant and equipment, and finance lease	88,645	97,053
Land
Property, Plant and Equipment [Line Items]
Property, plant and equipment - gross	3,053	2,998
Buildings
Property, Plant and Equipment [Line Items]
Property, plant and equipment - gross	84,262	84,005
Machinery and equipment
Property, Plant and Equipment [Line Items]
Property, plant and equipment - gross	153,592	154,016
Property under construction
Property, Plant and Equipment [Line Items]
Property, plant and equipment - gross	$ 6,333	$ 6,204

GOODWILL - Schedule of Goodwill

GOODWILL - Schedule of Goodwill (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2020USD ($)
Goodwill [Roll Forward]
Beginning balance	$ 47,160
Currency translation adjustments	(24)
Ending balance	47,136
B&W Renewable
Goodwill [Roll Forward]
Beginning balance	10,169
Currency translation adjustments	(5)
Ending balance	10,164
B&W Environmental
Goodwill [Roll Forward]
Beginning balance	5,652
Currency translation adjustments	(3)
Ending balance	5,649
B&W Thermal
Goodwill [Roll Forward]
Beginning balance	31,339
Currency translation adjustments	(16)
Ending balance	$ 31,323

GOODWILL - Narrative (Details)

GOODWILL - Narrative (Details)	3 Months Ended
	Mar. 31, 2020USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and other intangible asset impairment	$ 0

INTANGIBLE ASSETS - Intangible

INTANGIBLE ASSETS - Intangible Assets (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Definite-lived intangible assets
Gross value of definite-lived intangible assets	$ 64,508	$ 63,552
Accumulated amortization	(42,122)	(39,557)
Net definite-lived intangible assets	22,386	23,995
Indefinite-lived intangible assets
Total intangible assets, net	23,691	25,300
Trademarks and trade names
Indefinite-lived intangible assets
Trademarks and trade names	1,305	1,305
Customer relationships
Definite-lived intangible assets
Gross value of definite-lived intangible assets	24,634	24,440
Accumulated amortization	(19,352)	(18,616)
Unpatented technology
Definite-lived intangible assets
Gross value of definite-lived intangible assets	15,288	14,917
Accumulated amortization	(6,358)	(5,245)
Patented technology
Definite-lived intangible assets
Gross value of definite-lived intangible assets	2,625	2,598
Accumulated amortization	(2,571)	(2,476)
Tradename
Definite-lived intangible assets
Gross value of definite-lived intangible assets	12,706	12,372
Accumulated amortization	(4,686)	(4,257)
All other
Definite-lived intangible assets
Gross value of definite-lived intangible assets	9,255	9,225
Accumulated amortization	$ (9,155)	$ (8,963)

INTANGIBLE ASSETS - Summary of

INTANGIBLE ASSETS - Summary of Changes in Carrying Amount of Intangible Assets (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Intangible Assets [Roll Forward]
Balance at beginning of period	$ 25,300	$ 30,793
Amortization expense	(2,564)	(3,301)
Currency translation adjustments and other	955	(1,060)
Balance at end of the period	$ 23,691	$ 26,432

INTANGIBLE ASSETS - Estimated F

INTANGIBLE ASSETS - Estimated Future Intangible Asset Amortization (Details) $ in Thousands	Sep. 30, 2020USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
Year ending December 31, 2020	$ 827
Year ending December 31, 2021	3,188
Year ending December 31, 2022	3,159
Year ending December 31, 2023	3,158
Year ending December 31, 2024	3,086
Year ending December 31, 2025	2,567
Thereafter	$ 6,401

LEASES - Components of Lease Ex

LEASES - Components of Lease Expense (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019	Dec. 31, 2019
Leases [Abstract]
Operating lease expense	$ 1,433	$ 1,569	$ 4,329	$ 5,067
Short-term lease expense	866	1,193	1,346	6,153
Variable lease expense	625	121	1,019	682
Total operating lease expense	2,924	2,883	6,694	11,902
Amortization of right-of-use assets	517	0	1,546	0
Interest on lease liabilities	612	0	1,843	0	$ 14
Total finance lease expense	1,129	0	3,389	0
Sublease income	(22)	(22)	(65)	(46)
Net lease cost	$ 4,031	$ 2,861	$ 10,018	$ 11,856

LEASES - Other Information Rela

LEASES - Other Information Related to Leases (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019	Dec. 31, 2019
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases			$ 4,275		$ 6,578
Operating cash flows from finance leases	$ 612	$ 0	1,843	$ 0	14
Financing cash flows from finance leases			(208)		(12)
Right-of-use assets obtained in exchange for lease liabilities:
Operating leases			1,525		3,014
Finance leases			$ 146		$ 30,404
Weighted-average remaining lease term:
Operating leases (in years)	3 years 1 month 20 days		3 years 1 month 20 days		3 years 4 months 24 days
Finance leases (in years)	14 years 2 months 25 days		14 years 2 months 25 days		14 years 11 months 22 days
Weighted-average discount rate:
Operating leases	9.10%		9.10%		9.27%
Finance leases	8.00%		8.00%		8.00%

LEASES - Supplemental Balance S

LEASES - Supplemental Balance Sheet Information (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Assets:
Operating lease assets	$ 10,272	$ 12,498
Finance lease assets	28,992	30,392
Total non-current lease assets	39,264	42,890
Current
Operating lease liabilities	3,968	4,323
Finance lease liabilities	852	(38)
Non-current
Operating lease liabilities	6,381	8,388
Finance lease liabilities	29,917	30,454
Total lease liabilities	$ 41,118	$ 43,127
Finance Lease, Right-of-Use Asset, Statement of Financial Position [Extensible List]	us-gaap:PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetAfterAccumulatedDepreciationAndAmortization	us-gaap:PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetAfterAccumulatedDepreciationAndAmortization

LEASES - Future Minimum Lease P

LEASES - Future Minimum Lease Payments Required (Details) $ in Thousands	Sep. 30, 2020USD ($)
Operating Leases
2020 (excluding the nine months ended September 30, 2020)	$ 1,312
2021	4,246
2022	3,003
2023	1,992
2024	1,151
Thereafter	108
Total	11,812
Less imputed interest	(1,463)
Lease liability	10,349
Finance Leases
2020 (excluding the nine months ended September 30, 2020)	803
2021	3,277
2022	3,342
2023	3,408
2024	3,473
Thereafter	38,285
Total	52,588
Less imputed interest	(21,819)
Lease liability	30,769
Total
2020 (excluding the nine months ended September 30, 2020)	2,115
2021	7,523
2022	6,345
2023	5,400
2024	4,624
Thereafter	38,393
Total	64,400
Less imputed interest	(23,282)
Lease liability	$ 41,118

ACCRUED WARRANTY EXPENSE (Detai

ACCRUED WARRANTY EXPENSE (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Movement in Extended Product Warranty Accrual [Roll Forward]
Balance at beginning of period	$ 33,376	$ 45,117
Additions	4,508	4,793
Expirations and other changes	(3,523)	(5,172)
Payments	(8,410)	(7,848)
Translation and other	852	(1,292)
Balance at end of period	$ 26,803	35,598
Warranty reversal		$ 3,900

RESTRUCTURING ACTIVITIES (Detai

RESTRUCTURING ACTIVITIES (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Restructuring Cost and Reserve [Line Items]
Total	$ 2,396	$ 2,556	$ 6,739	$ 9,571
Severance and related costs	881	2,556	2,594	9,571
COVID-19 related costs	169		1,111
Other	1,346		3,034
B&W Renewable segment
Restructuring Cost and Reserve [Line Items]
Total	594		2,346
Severance and related costs	340	414	1,153	1,888
COVID-19 related costs	23		657
Other	231		536
B&W Environmental segment
Restructuring Cost and Reserve [Line Items]
Total	299		676
Severance and related costs	119	193	330	2,029
COVID-19 related costs	52		78
Other	128		268
B&W Thermal segment
Restructuring Cost and Reserve [Line Items]
Total	1,370		3,259
Severance and related costs	422	805	1,111	2,986
COVID-19 related costs	92		282
Other	856		1,866
Corporate
Restructuring Cost and Reserve [Line Items]
Total	133		458
Severance and related costs	0	$ 1,144	0	$ 2,668
COVID-19 related costs	2		94
Other	$ 131		$ 364

RESTRUCTURING ACTIVITIES - Rest

RESTRUCTURING ACTIVITIES - Restructuring Liabilities (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Restructuring Reserve [Roll Forward]
Balance at beginning of period	$ 5,087	$ 6,974	$ 5,359	$ 7,359
Restructuring expense	2,396	2,557	6,739	9,572
Payments	(2,307)	(2,957)	(6,922)	(10,357)
Balance at end of period	$ 5,176	$ 6,574	$ 5,176	$ 6,574

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		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Pension Benefits
Defined Benefit Plan Disclosure [Line Items]
Interest cost	$ 8,263	$ 10,685	$ 24,773	$ 32,507
Expected return on plan assets	(15,452)	(13,901)	(46,636)	(41,700)
Amortization of prior service cost	44	28	130	83
Recognized net actuarial (gain) loss	0	18	0	1,278
Benefit plans, net	(7,145)	(3,170)	(21,733)	(7,832)
Service cost included in COS	212	346	632	646
Net periodic benefit cost (benefit)	(6,933)	(2,824)	(21,101)	(7,186)
Other Benefits
Defined Benefit Plan Disclosure [Line Items]
Interest cost	88	139	232	378
Expected return on plan assets	0	0	0	0
Amortization of prior service cost	(271)	(540)	(813)	(1,618)
Recognized net actuarial (gain) loss	0	0	0	0
Benefit plans, net	(183)	(401)	(581)	(1,240)
Service cost included in COS	5	4	14	12
Net periodic benefit cost (benefit)	$ (178)	$ (397)	$ (567)	$ (1,228)

PENSION PLANS AND OTHER POSTR_4

PENSION PLANS AND OTHER POSTRETIREMENT BENEFITS - Narrative (Details) - USD ($)	Mar. 27, 2020	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Defined Benefit Plan Disclosure [Line Items]
Gain (loss) on sale mark to market adjustments		$ 0	$ 0	$ 0	$ 1,300,000
Company contributions		500,000	$ 500,000	1,600,000	$ 3,300,000
Additional expected benefit payment		46,000,000		46,000,000
Other Plans
Defined Benefit Plan Disclosure [Line Items]
Additional expected benefit payment		4,500,000		4,500,000
2020 Plan
Defined Benefit Plan Disclosure [Line Items]
Deferred contribution payments	$ 5,500,000
Additional expected benefit payment		$ 16,500,000		$ 16,500,000
2018 Plan
Defined Benefit Plan Disclosure [Line Items]
Deferred contribution payments	1,100,000
2019 Plan
Defined Benefit Plan Disclosure [Line Items]
Deferred contribution payments	$ 23,700,000
Period for deferred contribution payment to be funded over	5 years

REVOLVING DEBT - Narrative (Det

REVOLVING DEBT - Narrative (Details)

Nov. 30, 2020USD ($)

Oct. 30, 2020

Oct. 23, 2020USD ($)

May 14, 2020USD ($)day$ / shares

Mar. 31, 2021USD ($)

Aug. 31, 2020USD ($)

Sep. 30, 2020USD ($)shares

May 01, 2021USD ($)

Apr. 30, 2021USD ($)

Jun. 30, 2020shares

Jun. 08, 2020shares

Jun. 05, 2020$ / shares

Jan. 31, 2020USD ($)

Dec. 31, 2019USD ($)shares

Debt Instrument [Line Items]

Borrowing amount

$ 181,900,000

$ 179,000,000

Common stock, issued (in shares) | shares

52,006,000

46,374,000

Deferred ticking fee expense

$ 6,700,000

Effective interest rate

7.63%

Letters of credit outstanding

$ 31,600,000

Letters of credit not secured by the US Credit Facility

80,600,000

$ 88,500,000

Letters of credit subject to foreign currency revaluation

37,500,000

Guarantor obligations

277,600,000

Surety Bond

Debt Instrument [Line Items]

Letters of credit outstanding

$ 34,700,000

Subsequent Event

Debt Instrument [Line Items]

Permanent reduction of revolving credit facility

50.00%

Proceeds from insurance settlement

$ 26,000,000

Proceeds from insurance settlement applied as permanent reduction to credit facility

$ 8,000,000

B. Riley Financial, Inc.

Debt Instrument [Line Items]

Common stock issued equitization agreement (in shares) | shares

2,334,002

1,192,371

1,700,000

A&R Credit Agreement

Debt Instrument [Line Items]

Maximum borrowing capacity

$ 200,000,000

$ 205,000,000

Line of credit, interest payments

$ 3,800,000

Fixed rate per annum

12.00%

Minimum require liquidity condition

$ 30,000,000

Cash of non-loan parties, excess amount

25,000,000

A&R Credit Agreement | Maximum

Debt Instrument [Line Items]

Governmental assistance principal amount

10,000,000

A&R Credit Agreement | Subsequent Event

Debt Instrument [Line Items]

Permanent reduction of revolving credit facility

50.00%

A&R Credit Agreement | Subsequent Event | Quarter Ending December 31, 2020

Debt Instrument [Line Items]

Interest coverage ratio

0.50

A&R Credit Agreement | Subsequent Event | Quarter Ending March 31, 2021

Debt Instrument [Line Items]

Interest coverage ratio

0.50

A&R Credit Agreement | Subsequent Event | Quarter Ending June 30, 2021

Debt Instrument [Line Items]

Interest coverage ratio

0.80

A&R Credit Agreement | Subsequent Event | Quarter Ending September 30, 2021

Debt Instrument [Line Items]

Interest coverage ratio

1

A&R Credit Agreement | Subsequent Event | Quarter Ending December 31, 2021

Debt Instrument [Line Items]

Interest coverage ratio

1.10

A&R Credit Agreement | Subsequent Event | Quarter Ending March 31, 2022

Debt Instrument [Line Items]

Interest coverage ratio

1.25

A&R Credit Agreement | Subsequent Event | Maximum | Quarter Ending December 31, 2020

Debt Instrument [Line Items]

Senior debt leverage ratio

7.75

A&R Credit Agreement | Subsequent Event | Maximum | Quarter Ending March 31, 2021

Debt Instrument [Line Items]

Senior debt leverage ratio

7.75

A&R Credit Agreement | Subsequent Event | Maximum | Quarter Ending June 30, 2021

Debt Instrument [Line Items]

Senior debt leverage ratio

4.25

A&R Credit Agreement | Subsequent Event | Maximum | Quarter Ending September 30, 2021

Debt Instrument [Line Items]

Senior debt leverage ratio

3.75

A&R Credit Agreement | Subsequent Event | Maximum | Quarter Ending December 31, 2021

Debt Instrument [Line Items]

Senior debt leverage ratio

3

A&R Credit Agreement | Subsequent Event | Maximum | Quarter Ending March 31, 2022

Debt Instrument [Line Items]

Senior debt leverage ratio

2.25

A&R Credit Agreement | Subsequent Event | Forecast

Debt Instrument [Line Items]

Decrease in credit facility

$ 10,000,000

$ 5,000,000

Amount available in currencies other than U.S.

$ 125,000,000

Amount available in currencies other than U.S., step down

$ 110,000,000

A&R Credit Agreement | Letter of Credit

Debt Instrument [Line Items]

Maximum borrowing capacity

$ 75,000,000

Commitment fee percentage

4.00%

Third-party letter of credit basket

$ 50,000,000

Execution fee payable

3,900,000

Interest payments due under credit agreement

$ 13,400,000

Number of trading days | day

15

Conversation price threshold (in dollars per share) | $ / shares

$ 1.55

Debt instrument, convertible, conversion price (in dollars per share) | $ / shares

$ 2.2774

A&R Credit Agreement | Letter of Credit | Subsequent Event | Forecast

Debt Instrument [Line Items]

Maximum borrowing capacity

$ 190,000,000

Borrowing capacity, step down

$ 175,000,000

A&R Credit Agreement | London Interbank Offered Rate (LIBOR)

Debt Instrument [Line Items]

Basis spread on variable rate

7.00%

Percentage margins will be reduced by

2.00%

A&R Credit Agreement | Base Rate

Debt Instrument [Line Items]

Basis spread on variable rate

6.00%

A&R Credit Agreement | B. Riley Financial, Inc. | Letter of Credit

Debt Instrument [Line Items]

Common stock, issued (in shares) | shares

1,712,479

Revolving Credit Facility

Debt Instrument [Line Items]

Remaining borrowing capacity

$ 32,400,000

Additional borrowing capacity

23,100,000

Last Out Term Loan Tranche A-6 | A&R Credit Agreement | B. Riley Financial, Inc.

Debt Instrument [Line Items]

Proceeds from related party

$ 30,000,000

70,000,000

Installment proceeds

35,000,000

Proceeds available upon request

5,000,000

Proceeds from issuance of debt

$ 40,000,000

Senior Secured Revolving Credit Facility

Debt Instrument [Line Items]

Maximum borrowing capacity

326,900,000

Senior Secured Revolving Credit Facility | Letter of Credit

Debt Instrument [Line Items]

Letters of credit outstanding

89,600,000

Financial Standby Letter of Credit | Letter of Credit

Debt Instrument [Line Items]

Letters of credit outstanding

$ 23,000,000

LAST OUT TERM LOANS (Details)

LAST OUT TERM LOANS (Details) - USD ($)	May 14, 2020	Jan. 31, 2020	Jul. 23, 2019	Mar. 31, 2019	Sep. 30, 2020	Jun. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019	Dec. 31, 2019	Nov. 13, 2020	Jun. 08, 2020	Oct. 31, 2018
Debt Instrument [Line Items]
Loss on debt extinguishment					$ 0	$ 6,200,000	$ 0	$ 6,194,000	$ 3,969,000
Effective interest rate					7.63%			7.63%
Amended Credit Agreement
Debt Instrument [Line Items]
Fixed rate per annum			12.00%
A&R Credit Agreement
Debt Instrument [Line Items]
Fixed rate per annum	12.00%
B. Riley Financial, Inc.
Debt Instrument [Line Items]
Common stock issued equitization agreement (in shares)					2,334,002	1,192,371		2,334,002				1,700,000
Last Out Term Loan Tranche A-3
Debt Instrument [Line Items]
Effective interest rate					12.00%			12.00%
Last Out Term Loan Tranche A-3 | Amended Credit Agreement
Debt Instrument [Line Items]
Debt prepayment amount			$ 39,700,000
Borrowings under last out term loans								$ 141,400,000
Last Out Term Loan Tranche A-3 | B. Riley Financial, Inc. | Amended Credit Agreement
Debt Instrument [Line Items]
Proceeds from related party								150,000,000
Last Out Term Loan Tranche A-4 | B. Riley Financial, Inc. | Amended Credit Agreement
Debt Instrument [Line Items]
Proceeds from related party		$ 30,000,000
Borrowings under last out term loans		26,300,000
Borrowing fees		$ 3,700,000
Last Out Term Loan Tranche A-6 | B. Riley Financial, Inc. | A&R Credit Agreement
Debt Instrument [Line Items]
Proceeds from related party	$ 30,000,000							70,000,000
Borrowings under last out term loans	$ 30,000,000
Installment proceeds								35,000,000
Proceeds available upon request								5,000,000
Last Out Term Loan Tranche A-1 | B. Riley Financial, Inc. | Amended Credit Agreement
Debt Instrument [Line Items]
Face amount													$ 30,000,000
Last Out Term Loan Tranche A-2 | B. Riley Financial, Inc. | Amended Credit Agreement
Debt Instrument [Line Items]
Proceeds from related party				$ 10,000,000
Last Out Term Loan Tranche A-5 | A&R Credit Agreement | Subsequent Event
Debt Instrument [Line Items]
Current borrowing capacity											$ 0
Last Out Term Loan Tranche A-7 | A&R Credit Agreement | Subsequent Event
Debt Instrument [Line Items]
Current borrowing capacity											$ 0
Last Out Term Loan Tranche A-7 | B. Riley Financial, Inc. | A&R Credit Agreement
Debt Instrument [Line Items]
Proceeds from related party								50,000,000
Line of Credit
Debt Instrument [Line Items]
Proceeds								161,660,000
Discount and fees					$ 8,650,000			8,650,000
Paid-in-kind interest					3,020,000			3,020,000
Net debt balance					173,330,000			173,330,000
Line of Credit | Last Out Term Loan Tranche A-3
Debt Instrument [Line Items]
Proceeds								101,660,000		$ 101,660,000
Discount and fees					8,650,000			8,650,000		8,650,000
Paid-in-kind interest					3,020,000			3,020,000		3,020,000
Principal										113,330,000
Unamortized debt discount and financing fees										(9,377,000)
Net debt balance					113,330,000			113,330,000		$ 103,953,000
Line of Credit | Last Out Term Loan Tranche A-4
Debt Instrument [Line Items]
Proceeds								30,000,000
Discount and fees					0			0
Paid-in-kind interest					0			0
Net debt balance					30,000,000			30,000,000
Line of Credit | Last Out Term Loan Tranche A-6
Debt Instrument [Line Items]
Proceeds								30,000,000
Discount and fees					0			0
Paid-in-kind interest					0			0
Net debt balance					$ 30,000,000			$ 30,000,000

INTEREST EXPENSE AND SUPPLEME_3

INTEREST EXPENSE AND SUPPLEMENTAL CASH FLOW INFORMATION (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Debt Instrument [Line Items]
Interest expense on borrowings	$ 8,697	$ 8,929	$ 25,001	$ 25,340
Amortization of deferred origination fees, net	1,166	20,292	19,219	41,185
Other interest expense	2,340	242	5,556	909
Total interest expense	12,203	29,463	49,776	67,434
Income tax payments, net			3,967	304
Total cash paid for interest			14,420	14,657
U.S. Revolving Credit Facility
Debt Instrument [Line Items]
Interest expense on borrowings	3,382	4,292	10,830	11,644
Total cash paid for interest			8,280	9,748
Last Out Term Loans - cash interest
Debt Instrument [Line Items]
Interest expense on borrowings	0	3,613	6,140	7,732
Amortization of deferred origination fees, net	(545)	6,445	3,183	8,514
Total cash paid for interest			6,140	4,909
Last Out Term Loans - equitized interest
Debt Instrument [Line Items]
Interest expense on borrowings	5,315	0	8,031	0
Last Out Term Loans - paid-in-kind interest
Debt Instrument [Line Items]
Interest expense on borrowings	0	1,024	0	5,964
U.S. Revolving Credit Facility - deferred financing fees and commitment fees
Debt Instrument [Line Items]
Amortization of deferred origination fees, net	1,711	8,836	14,376	22,985
U.S. Revolving Credit Facility contingent consent fee for Amendment 16
Debt Instrument [Line Items]
Amortization of deferred origination fees, net	0	5,011	0	9,686
U.S. Revolving Credit Facility - deferred ticking fee for Amendment 16
Debt Instrument [Line Items]
Amortization of deferred origination fees, net	$ 0	$ 0	$ 1,660	$ 0

INTEREST EXPENSE AND SUPPLEME_4

INTEREST EXPENSE AND SUPPLEMENTAL CASH FLOW INFORMATION - Cash, Cash Equivalents and Restricted Cash (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019	Sep. 30, 2019	Dec. 31, 2018
Cash and Cash Equivalents [Line Items]
Cash and cash equivalents of continuing operations	$ 38,934	$ 43,772	$ 32,063	$ 43,214
Restricted cash and cash equivalents	9,435	13,169	11,282	17,065
Total cash, cash equivalents and restricted cash shown in the Condensed Consolidated Statements of Cash Flows	48,369	56,941	43,345	60,279
Held by foreign entities
Cash and Cash Equivalents [Line Items]
Cash and cash equivalents of continuing operations	36,848	38,921	30,590	35,522
Held by U.S. entities
Cash and Cash Equivalents [Line Items]
Cash and cash equivalents of continuing operations	2,086	4,851	1,473	7,692
Reinsurance reserve requirements
Cash and Cash Equivalents [Line Items]
Restricted cash and cash equivalents	3,443	9,318	8,802	11,768
Restricted foreign accounts
Cash and Cash Equivalents [Line Items]
Restricted cash and cash equivalents	2,752	3,851	2,480	5,297
Bank guarantee collateral
Cash and Cash Equivalents [Line Items]
Restricted cash and cash equivalents	$ 3,240	$ 0	$ 0	$ 0

PROVISION FOR INCOME TAXES - Na

PROVISION FOR INCOME TAXES - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Income Tax Contingency [Line Items]
Income tax (benefit) expense	$ (502)	$ 1,043	$ (467)	$ 3,560
Effective tax rate	(1.50%)	(1.90%)	2.70%	(2.70%)
Favorable (unfavorable) discrete items	$ (100)	$ (500)	$ 1,200	$ (600)
Minimum | Foreign Tax Authority
Income Tax Contingency [Line Items]
Effective tax rate			19.00%
Maximum | Foreign Tax Authority
Income Tax Contingency [Line Items]
Effective tax rate			30.00%

CONTINGENCIES - Narrative (Deta

CONTINGENCIES - Narrative (Details) $ in Millions	Dec. 27, 2019USD ($)
Pending Litigation
Loss Contingencies [Line Items]
Alleged damages	$ 58.9

COMPREHENSIVE INCOME - Accumula

COMPREHENSIVE INCOME - Accumulated Other Comprehensive Income (Details) - USD ($) $ in Thousands	3 Months Ended						9 Months Ended
	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Sep. 30, 2020	Sep. 30, 2019
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Stockholders' equity, beginning balance	$ (338,700)	$ (323,650)	$ (294,939)	$ (343,035)	$ (317,852)	$ (277,297)	$ (294,939)	$ (277,297)
Other comprehensive income (loss) before reclassifications	(22,916)	(4,095)	2,380	21,433	(8,168)	9,082
Reclassified from AOCI to net income (loss)	(246)	(246)	(246)	(515)	2,640	(132)
Amounts reclassified from AOCI to advanced billings on contracts				(197)
Other comprehensive (loss) income	(23,162)	(4,341)	2,134	20,721	(5,528)	8,950	(25,369)	24,143
Stockholders' equity, ending balance	(320,778)	(338,700)	(323,650)	(290,077)	(343,035)	(317,852)	(320,778)	(290,077)
Accumulated Other Comprehensive Income (Loss)
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Stockholders' equity, beginning balance	(281)	4,060	1,926	(8,010)	(2,482)	(11,432)	1,926	(11,432)
Stockholders' equity, ending balance	(23,443)	(281)	4,060	12,711	(8,010)	(2,482)	(23,443)	12,711
Currency translation (loss) gain
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Stockholders' equity, beginning balance	4,028	8,123	5,743	(5,377)	(574)	(10,834)	5,743	(10,834)
Other comprehensive income (loss) before reclassifications	(22,916)	(4,095)	2,380	21,433	(7,979)	10,260
Reclassified from AOCI to net income (loss)	0	0	0	0	3,176	0
Amounts reclassified from AOCI to advanced billings on contracts				0
Other comprehensive (loss) income	(22,916)	(4,095)	2,380	21,433	(4,803)	10,260
Stockholders' equity, ending balance	(18,888)	4,028	8,123	16,056	(5,377)	(574)	(18,888)	16,056
Net unrealized gain (loss) on derivative instruments
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Stockholders' equity, beginning balance				197	408	1,362		1,362
Other comprehensive income (loss) before reclassifications				0	(189)	(1,178)
Reclassified from AOCI to net income (loss)				0	(22)	224
Amounts reclassified from AOCI to advanced billings on contracts				(197)
Other comprehensive (loss) income				(197)	(211)	(954)
Stockholders' equity, ending balance				0	197	408		0
Net unrecognized loss related to benefit plans (net of tax)
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Stockholders' equity, beginning balance	(4,309)	(4,063)	(3,817)	(2,830)	(2,316)	(1,960)	(3,817)	(1,960)
Other comprehensive income (loss) before reclassifications	0	0	0	0	0	0
Reclassified from AOCI to net income (loss)	(246)	(246)	(246)	(515)	(514)	(356)
Amounts reclassified from AOCI to advanced billings on contracts				0
Other comprehensive (loss) income	(246)	(246)	(246)	(515)	(514)	(356)
Stockholders' equity, ending balance	$ (4,555)	$ (4,309)	$ (4,063)	$ (3,345)	$ (2,830)	$ (2,316)	$ (4,555)	$ (3,345)

COMPREHENSIVE INCOME - Reclassi

COMPREHENSIVE INCOME - Reclassification out of Accumulated other Comprehensive Income (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Loss on sale of business	$ 0	$ 0	$ (108)	$ (3,601)
Other – net	(276)	(255)	(3,068)	208
Benefit plans, net	7,328	3,571	22,314	9,072
Net income	34,555	(56,990)	(17,113)	(135,191)
Reclassification out of Accumulated Other Comprehensive Income | Release of currency translation gain with the sale of equity method investment and the sale of business
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Loss on sale of business	0	0	0	(3,176)
Reclassification out of Accumulated Other Comprehensive Income | Derivative financial instruments
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Other – net	0	0	0	(202)
Net income	0	0	0	(3,378)
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]
Benefit plans, net	246	515	738	1,385
Net income	$ 246	$ 515	$ 738	$ 1,385

FAIR VALUE MEASUREMENTS - Summa

FAIR VALUE MEASUREMENTS - Summary of Available-for-Sale Securities Measured at Fair Value (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total fair value of available-for-sale securities	$ 17,321	$ 12,765
Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total fair value of available-for-sale securities	16,744	12,178
Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total fair value of available-for-sale securities	577	587
Corporate notes and bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total fair value of available-for-sale securities	10,612	8,310
Corporate notes and bonds | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total fair value of available-for-sale securities	10,612	8,310
Corporate notes and bonds | 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
Mutual funds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total fair value of available-for-sale securities	577	587
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	577	587
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	6,132	3,868
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	6,132	3,868
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

FAIR VALUE MEASUREMENTS - Narra

FAIR VALUE MEASUREMENTS - Narrative (Details)	Sep. 30, 2020
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

RELATED PARTY TRANSACTIONS - Na

RELATED PARTY TRANSACTIONS - Narrative (Details) $ in Thousands	Aug. 10, 2020USD ($)	Nov. 19, 2018USD ($)	Apr. 30, 2020	Sep. 30, 2020USD ($)shares	Sep. 30, 2019USD ($)	Sep. 30, 2020USD ($)individualshares	Sep. 30, 2019USD ($)	Jun. 30, 2020shares	Jun. 08, 2020shares	Jun. 30, 2019USD ($)
Related Party Transaction [Line Items]
Number of individuals to serve on the board of directors | individual						3
B. Riley Financial, Inc.
Related Party Transaction [Line Items]
Common stock issued equitization agreement (in shares) | shares				2,334,002		2,334,002		1,192,371	1,700,000
Total fees				$ 100	$ 400	$ 7,600	$ 11,900
Performance bond amount	$ 30,000
Indemnity rider fee	$ 600
Indemnity rider fee, percentage of bonded obligation	2.00%
BPRI Executive Consulting, LLC | Chief Executive Officer
Related Party Transaction [Line Items]
Deferral percentage of monthly fee payment			50.00%
BPRI Executive Consulting, LLC | Financial advisory services
Related Party Transaction [Line Items]
Related party payments		$ 750
Cash bonus										$ 2,000
Babcock & Wilcox Enterprises, Inc. | B. Riley Capital Management, LLC
Related Party Transaction [Line Items]
Ownership percent of common stock						29.50%
Babcock & Wilcox Enterprises, Inc. | Vintage Capital Management, LLC
Related Party Transaction [Line Items]
Ownership percent of common stock						20.60%

ASSETS HELD FOR SALE, DIVESTI_3

ASSETS HELD FOR SALE, DIVESTITURES AND DISCONTINUED OPERATIONS - Carrying Value of Assets and Liabilities Held for Sale (Details) - Discontinued Operations, Held-for-sale - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Schedule of Equity Method Investments [Line Items]
Accounts receivable – trade, net	$ 1,527	$ 5,472
Accounts receivable – other	77	147
Contracts in progress	797	586
Inventories	2,292	1,555
Other current assets	123	329
Current assets held for sale	4,816	8,089
Net property, plant and equipment	6,793	6,534
Intangible assets	732	725
Right-of-use-asset	57	63
Other assets	(39)	0
Non-current assets held for sale	7,543	7,322
Total assets held for sale	12,359	15,411
Accounts payable	5,352	7,898
Accrued employee benefits	317	430
Advance billings on contracts	76	227
Accrued warranty expense	517	515
Operating lease liabilities	33	6
Other accrued liabilities	630	462
Current liabilities held for sale	6,925	9,538
Total liabilities held for sale	$ 6,925	$ 9,538

ASSETS HELD FOR SALE, DIVESTI_4

ASSETS HELD FOR SALE, DIVESTITURES AND DISCONTINUED OPERATIONS - Narrative (Details) $ in Thousands, € in Millions	Apr. 06, 2020USD ($)	Mar. 17, 2020USD ($)	Sep. 30, 2020USD ($)	Sep. 30, 2019USD ($)	Sep. 30, 2020USD ($)	Sep. 30, 2019USD ($)	May 31, 2019USD ($)	May 31, 2019EUR (€)
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Amount received after remaining escrow is settled	$ 3,500	$ 4,500
Proceeds from sale of business					$ 8,000	$ 7,445
Gain on sale of business			$ 0	$ 0	$ (108)	(3,601)
Lynx Holding GmbH | Discontinued Operations | Loibl GmbH
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Discontinued operation, consideration transferred							$ 11,400	€ 10
Proceeds from sale of business				7,400
Gain on sale of business				3,600
Expected transaction costs				$ 700		$ 700