Babcock & Wilcox Enterprises, I (BW) 10-Q 12 Aug 21 2021 Q2 Quarterly report Financial data

Cover

Cover - shares	6 Months Ended
	Jun. 30, 2021	Aug. 06, 2021
Entity Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2021
Document Transition Report	false
Entity File Number	001-36876
Entity Registrant Name	BABCOCK & WILCOX ENTERPRISES, INC
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	47-2783641
Entity Address, Address Line One	1200 East Market Street
Entity Address, Address Line Two	Suite 650
Entity Address, City or Town	Akron
Entity Address, State or Province	OH
Entity Address, Postal Zip Code	44305
City Area Code	(330)
Local Phone Number	753-4511
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		85,820,578
Amendment Flag	false
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q2
Entity Central Index Key	0001630805
Current Fiscal Year End Date	--12-31
Common Stock
Entity Information [Line Items]
Title of 12(b) Security	Common Stock, $0.01 par value
Trading Symbol	BW
Security Exchange Name	NYSE
Senior notes 8.125% due 2026
Entity Information [Line Items]
Title of 12(b) Security	8.125% Senior Notes due 2026
Trading Symbol	BWSN
Security Exchange Name	NYSE
7.75% Series A Cumulative Perpetual Preferred Stock
Entity Information [Line Items]
Title of 12(b) Security	7.75% Series A Cumulative Perpetual Preferred Stock
Trading Symbol	BW PRA
Security Exchange Name	NYSE

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Income Statement [Abstract]
Revenues	$ 202,860,000	$ 135,397,000	$ 371,108,000	$ 283,951,000
Costs and expenses:
Cost of operations	158,799,000	102,907,000	290,184,000	217,535,000
Selling, general and administrative expenses	33,704,000	34,579,000	74,161,000	72,187,000
Advisory fees and settlement costs	4,526,000	1,989,000	7,817,000	6,228,000
Restructuring activities	2,400,000	2,392,000	3,393,000	4,343,000
Research and development costs	609,000	1,231,000	1,197,000	2,572,000
Loss (gain) on asset disposals, net	38,000	2,000	(1,966,000)	(913,000)
Total costs and expenses	200,076,000	143,100,000	374,786,000	301,952,000
Operating income (loss)	2,784,000	(7,703,000)	(3,678,000)	(18,001,000)
Other income (expense):
Interest expense	(8,021,000)	(15,482,000)	(22,244,000)	(37,573,000)
Interest income	146,000	223,000	255,000	263,000
Gain (loss) on debt extinguishment	6,530,000	(6,194,000)	6,530,000	(6,194,000)
(Loss) gain on sale of business	(2,598,000)	(108,000)	(2,240,000)	(108,000)
Benefit plans, net	5,924,000	7,450,000	15,022,000	14,986,000
Foreign exchange	1,826,000	7,112,000	617,000	(2,214,000)
Other – net	96,000	(2,586,000)	(182,000)	(2,792,000)
Total other income (expense)	3,903,000	(9,585,000)	(2,242,000)	(33,632,000)
Income (loss) before income tax expense	6,687,000	(17,288,000)	(5,920,000)	(51,633,000)
Income tax expense	3,546,000	845,000	6,382,000	35,000
Income (loss) from continuing operations	3,141,000	(18,133,000)	(12,302,000)	(51,668,000)
(Loss) income from discontinued operations, net of tax	0	(113,000)	0	1,800,000
Net income (loss)	3,141,000	(18,246,000)	(12,302,000)	(49,868,000)
Net (income) loss attributable to non-controlling interest	(15,000)	142,000	(36,000)	238,000
Net income (loss) attributable to stockholders	3,126,000	(18,104,000)	(12,338,000)	(49,630,000)
Less: Dividend on Series A preferred stock	(1,731,000)	0	(1,731,000)	0
Net income (loss) attributable to stockholders of common stock	$ 1,395,000	$ (18,104,000)	$ (14,069,000)	$ (49,630,000)
Basic earnings (loss) per share
Continuing operations (in dollars per share)	$ 0.02	$ (0.39)	$ (0.18)	$ (1.10)
Discontinued operations (in dollars per share)	0	0	0	0.04
Basic earnings (loss) per share (in dollars per share)	0.02	(0.39)	(0.18)	(1.06)
Diluted earnings (loss) per share
Continuing operations (in dollars per share)	0.02	(0.39)	(0.18)	(1.10)
Discontinued operations (in dollars per share)	0	0	0	0.04
Diluted earnings (loss) per share (in dollars per share)	$ 0.02	$ (0.39)	$ (0.18)	$ (1.06)
Shares used in the computation of earnings (loss) per share:
Basic (in shares)	85,724	46,853	78,589	46,628
Diluted (in shares)	87,003	46,853	78,589	46,628

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Statement of Comprehensive Income [Abstract]
Net income (loss)	$ 3,141	$ (18,246)	$ (12,302)	$ (49,868)
Other comprehensive income (loss):
Currency translation adjustments (CTA)	(1,478)	(4,095)	(1,548)	(1,715)
Reclassification of CTA to net loss	0	0	(4,512)	0
Benefit obligations:
Amortization of benefit plan benefits	198	(246)	396	(492)
Other comprehensive loss	(1,280)	(4,341)	(5,664)	(2,207)
Total comprehensive income (loss)	1,861	(22,587)	(17,966)	(52,075)
Comprehensive income attributable to non-controlling interest	(10)	105	(7)	259
Comprehensive income (loss) attributable to stockholders	$ 1,851	$ (22,482)	$ (17,973)	$ (51,816)

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Statement of Financial Position [Abstract]
Cash, cash equivalents and restricted cash	$ 143,598	$ 67,423
Accounts receivable – trade, net	132,341	128,317
Accounts receivable – other	34,622	35,442
Contracts in progress	63,937	59,308
Inventories	71,003	67,161
Other current assets	15,355	26,421
Current assets held for sale	0	4,728
Total current assets	460,856	388,800
Net property, plant and equipment, and finance lease	83,366	85,078
Goodwill	47,413	47,363
Intangible assets	21,652	23,908
Right-of-use assets	9,399	10,814
Other assets	40,688	24,673
Non-current assets held for sale	1,766	11,156
Total assets	665,140	591,792
Accounts payable	87,541	73,481
Accrued employee benefits	13,998	13,906
Advance billings on contracts	53,142	64,002
Accrued warranty expense	16,376	25,399
Operating lease liabilities	3,728	3,995
Other accrued liabilities	60,213	81,744
Loan payable	2,564	0
Current liabilities held for sale	0	8,305
Total current liabilities	237,562	270,832
Senior notes	168,357	0
Last out term loans	0	183,330
Revolving credit facilities	0	164,300
Pension and other accumulated postretirement benefit liabilities	213,042	252,292
Non-current finance lease liabilities	33,237	29,690
Non-current operating lease liabilities	5,888	7,031
Other non-current liabilities	22,773	22,579
Total liabilities	680,859	930,054
Commitments and contingencies
Stockholders' deficit:
Preferred stock, par value $0.01 per share, authorized shares of 20,000; issued and outstanding shares of 7,362 and 0 at June 30, 2021 and December 30, 2020, respectively	74	0
Common stock, par value $0.01 per share, authorized shares of 500,000; issued and outstanding shares of 85,729 and 54,452 at June 30, 2021 and December 31, 2020, respectively	5,103	4,784
Capital in excess of par value	1,509,697	1,164,436
Treasury stock at cost, 1,313 and 718 shares at June 30, 2021 and December 31, 2020, respectively	(109,301)	(105,990)
Accumulated deficit	(1,364,275)	(1,350,206)
Accumulated other comprehensive loss	(58,054)	(52,390)
Stockholders' deficit attributable to shareholders	(16,756)	(339,366)
Non-controlling interest	1,037	1,104
Total stockholders' deficit	(15,719)	(338,262)
Total liabilities and stockholders' deficit	$ 665,140	$ 591,792

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Jun. 30, 2021	Dec. 31, 2020
Statement of Financial Position [Abstract]
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, authorized (in shares)	20,000,000	20,000,000
Preferred stock, issued (in shares)	7,362,000	0
Preferred stock, outstanding (in shares)	7,362,000	0
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)	85,729,000	54,452,000
Common stock, outstanding (in shares)	85,729,000	54,452,000
Treasury stock, at cost (in shares)	1,313,000	718,000

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENT OF STOCKHOLDERS' (DEFICIT) EQUITY - USD ($) shares in Thousands, $ in Thousands	Total	Common Stock	Preferred Stock	Capital In Excess of Par Value	Treasury Stock	Accumulated Deficit	Accumulated Other Comprehensive Loss	Non-controlling Interest
Beginning balance (in shares) at Dec. 31, 2019		46,374
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) income	(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
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
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
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) income	(49,868)
Ending balance (in shares) at Jun. 30, 2020		49,312
Ending balance at Jun. 30, 2020	(338,700)	$ 4,732		1,150,999	(105,717)	(1,389,518)	(281)	1,085
Beginning balance (in shares) at Mar. 31, 2020		46,407
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) income	(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)
Dividends to non-controlling interest	(37)
Equitized guarantee fee payment (in shares)		1,713
Equitized guarantee fee payment	3,900	$ 17		3,883
Equitized Last Out Term Loan interest payment (in shares)		1,192
Equitized Last Out Term Loan interest payment	2,715	$ 12		2,703
Ending balance (in shares) at Jun. 30, 2020		49,312
Ending balance at Jun. 30, 2020	$ (338,700)	$ 4,732		1,150,999	(105,717)	(1,389,518)	(281)	1,085
Beginning balance (in shares) at Dec. 31, 2020	54,452	54,452	0
Beginning balance at Dec. 31, 2020	$ (338,262)	$ 4,784	$ 0	1,164,436	(105,990)	(1,350,206)	(52,390)	1,104
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net (loss) income	(15,443)					(15,464)		21
Currency translation adjustments	(4,606)						(4,582)	(24)
Defined benefit obligations	198						198
Stock-based compensation charges (in shares)		1,725
Stock-based compensation charges	1,194	$ 22		4,480	(3,308)
Common stock offering, net (in shares)		29,487
Common stock offering, net	161,513	$ 295		161,218
Dividends to non-controlling interest	(38)							(38)
Ending balance (in shares) at Mar. 31, 2021		85,664	0
Ending balance at Mar. 31, 2021	$ (195,444)	$ 5,101	$ 0	1,330,134	(109,298)	(1,365,670)	(56,774)	1,063
Beginning balance (in shares) at Dec. 31, 2020	54,452	54,452	0
Beginning balance at Dec. 31, 2020	$ (338,262)	$ 4,784	$ 0	1,164,436	(105,990)	(1,350,206)	(52,390)	1,104
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net (loss) income	$ (12,302)
Ending balance (in shares) at Jun. 30, 2021	85,729	85,729	7,362
Ending balance at Jun. 30, 2021	$ (15,719)	$ 5,103	$ 74	1,509,697	(109,301)	(1,364,275)	(58,054)	1,037
Beginning balance (in shares) at Mar. 31, 2021		85,664	0
Beginning balance at Mar. 31, 2021	(195,444)	$ 5,101	$ 0	1,330,134	(109,298)	(1,365,670)	(56,774)	1,063
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net (loss) income	3,141					3,126		15
Currency translation adjustments	(1,483)						(1,478)	(5)
Defined benefit obligations	198						198
Stock-based compensation charges (in shares)		65
Stock-based compensation charges	1,200	$ 2		1,201	(3)
Common stock offering, net	(529)			(529)
Preferred stock offering, net (in shares)			4,445
Preferred stock offering, net	106,043		$ 45	105,998
Equitized Last Out Term Loan principal payment (in shares)			2,917
Equitized Last Out Term Loan principal payment	72,922		$ 29	72,893
Dividends to preferred stockholders	(1,731)					(1,731)
Dividends to non-controlling interest	$ (36)							(36)
Ending balance (in shares) at Jun. 30, 2021	85,729	85,729	7,362
Ending balance at Jun. 30, 2021	$ (15,719)	$ 5,103	$ 74	$ 1,509,697	$ (109,301)	$ (1,364,275)	$ (58,054)	$ 1,037

CONDENSED CONSOLIDATED STATEM_4

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Cash flows from operating activities:
Net loss	$ (12,302)	$ (49,868)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization of long-lived assets	8,379	8,239
Amortization of deferred financing costs, debt discount and payment-in-kind interest	6,464	14,785
Amortization of guaranty fee	908	236
Non-cash operating lease expense	2,238	2,403
(Gain) loss on sale of business	2,240	108
(Gain) loss on debt extinguishment	(6,530)	6,194
Gains on asset disposals	(1,966)	(913)
Provision for (benefit from) deferred income taxes, including valuation allowances	2,002	(793)
Prior service cost amortization for pension and postretirement plans	396	(492)
Stock-based compensation, net of associated income taxes	5,705	1,803
Foreign exchange	(617)	2,214
Changes in assets and liabilities:
Accounts receivable	(576)	36,105
Contracts in progress	(5,014)	6,847
Advance billings on contracts	(10,512)	(14,957)
Inventories	(4,821)	(570)
Income taxes	(1,961)	(3,141)
Accounts payable	10,227	(37,347)
Accrued and other current liabilities	(34,717)	15,277
Accrued contract loss	(261)	(4,432)
Pension liabilities, accrued postretirement benefits and employee benefits	(40,339)	(16,946)
Other, net	(5,018)	(14,074)
Net cash used in operating activities	(86,075)	(49,322)
Cash flows from investing activities:
Purchase of property, plant and equipment	(2,168)	(1,675)
Proceeds from sale of business and assets, net	7,170	8,773
Purchases of available-for-sale securities	(6,694)	(13,668)
Sales and maturities of available-for-sale securities	8,303	10,835
Net cash from investing activities	6,611	4,265
Cash flows from financing activities:
Issuance of senior notes, net	138,287	0
Borrowings on loan payable	2,566	0
Issuance of preferred stock, net	106,043	0
Payment of preferred stock dividends	(1,731)	0
Shares of common stock returned to treasury stock	(3,311)	(10)
Issuance of common stock, net	160,984	0
Debt issuance costs	(10,933)	(10,356)
Other, net	(908)	326
Net cash from financing activities	151,289	35,660
Effects of exchange rate changes on cash	4,350	572
Net increase (decrease) in cash, cash equivalents and restricted cash	76,175	(8,825)
Cash, cash equivalents and restricted cash, beginning of period	67,423	56,941
Cash, cash equivalents and restricted cash, end of period	143,598	48,116
Last Out Term Loans
Cash flows from financing activities:
Borrowings under credit facilities	0	60,000
Repayments of lines of credit	(75,408)	0
U.S. Revolving Credit Facility
Cash flows from financing activities:
Borrowings under credit facilities	14,500	94,200
Repayments of lines of credit	$ (178,800)	$ (108,500)

BASIS OF PRESENTATION

BASIS OF PRESENTATION	6 Months Ended
	Jun. 30, 2021
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. COVID-19 In December 2019, a novel strain of coronavirus, COVID-19, was identified in Wuhan, China and 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 changes in the severity of the virus in these countries and localities. These restrictions, including curtailment of travel and other activity, negatively impact our ability to conduct business. The volatility and variability of the virus has limited our ability to forecast the impact of the virus on our customers and our business. The continuing resurgence of COVID-19, including new strains such as the delta variant, 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 had anticipated would begin in 2020 to be delayed into the second half of 2021 and beyond. 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 the second half of 2021 and beyond. Additionally, out of concern for our employees, even where restrictions permit employees to return to our offices and worksites, we incurred additional costs to protect our employees and 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. The full extent of the COVID-19 impact, including new strains such as the delta variant, that may arise along with the availability of vaccines and anti-vaccination attitudes of the public, that could negatively impact our evaluation on our operational and financial performance will depend on future developments, including the ultimate duration and spread of the pandemic and related actions taken by the U.S. government, state and local government officials, and international governments to prevent disease spread, as well as the availability and effectiveness of COVID-19 vaccinations in the U.S. and abroad, all of which are uncertain, out of our control, and cannot be predicted. Beginning in April 2020 and continuing as of August 12, 2021, as part of the Company’s response to the impact of the COVID-19 pandemic on its business, the Company continues to take a number of cash conservation and cost reduction measures which include: • suspension of our 401(k) company match for U.S. employees; • utilizing options for government loans and programs in the U.S. and abroad that are appropriate and available; and • deferring $20.9 million of the estimated Pension Plan contribution payments of $45.6 million that would have been due during 2021, in accordance with the American Rescue Plan Act of 2021 (the “ARPA relief plan”) signed into law in March 2021. In January 2021, we made Pension Plan contributions of $23.1 million, excluding interest.

EARNINGS PER SHARE

EARNINGS PER SHARE	6 Months Ended
	Jun. 30, 2021
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 and dividends on preferred stock: Three months ended June 30, Six months ended June 30, (in thousands, except per share amounts) 2021 2020 2021 2020 Income (loss) from continuing operations attributable to stockholders of common stock $ 1,395 $ (17,991) $ (14,069) $ (51,430) Income (loss) from discontinued operations attributable to stockholders of common stock, net of tax — (113) — 1,800 Net income (loss) attributable to stockholders of common stock $ 1,395 $ (18,104) $ (14,069) $ (49,630) Weighted average shares used to calculate basic earnings (loss) per share 85,724 46,853 78,589 46,628 Dilutive effect of stock options, restricted stock and performance units 1,279 — — — Weighted average shares used to calculate diluted earnings (loss) per share 87,003 46,853 78,589 46,628 Basic earnings (loss) per share Continuing operations $ 0.02 $ (0.39) $ (0.18) $ (1.10) Discontinued operations — — — 0.04 Basic earnings (loss) per share $ 0.02 $ (0.39) $ (0.18) $ (1.06) Diluted earnings (loss) per share Continuing operations $ 0.02 $ (0.39) $ (0.18) $ (1.10) Discontinued operations — — — 0.04 Diluted earnings (loss) per share $ 0.02 $ (0.39) $ (0.18) $ (1.06) Because we incurred a net loss in the six months ended June 30, 2021 and in the three and six months ended June 30, 2020, basic and diluted shares are the same. If we had net income in the six months ended June 30, 2021, diluted shares would include an additional 1.4 million shares. If we had net income in the three and six months ended June 30, 2020, diluted shares would include an additional 33.3 thousand and 216.1 thousand shares, respectively. We excluded 0.3 million and 1.5 million shares related to stock options from the diluted share calculation for the three months ended June 30, 2021 and 2020, respectively, because their effect would have been anti-dilutive. We excluded 0.4 million and 1.7 million shares related to stock options from the diluted share calculation for the six months ended June 30, 2021 and 2020, respectively, because their effect would have been anti-dilutive.

SEGMENT REPORTING

SEGMENT REPORTING	6 Months Ended
	Jun. 30, 2021
Segment Reporting [Abstract]
SEGMENT REPORTING	SEGMENT REPORTING B&W’s innovative products and services are organized into three market-facing segments which changed in the third quarter of 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. Our reportable segments are as follows: • Babcock & Wilcox Renewable: 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. B&W’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. • Babcock & Wilcox Environmental: A full suite of best-in-class emissions control and environmental technology solutions for utility, waste to energy, biomass, carbon black, and industrial steam generation applications around the world. B&W’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. • Babcock & Wilcox Thermal: Steam generation equipment, aftermarket parts, construction, maintenance and field services for plants in the power generation, oil and gas, and industrial sectors. B&W has an extensive global base of installed equipment for utilities and general industrial applications including refining, petrochemical, food processing, metals and others. Total revenues exclude revenues generated from sales to other segments. An analysis of our operations by segment is as follows: Three months ended June 30, Six months ended June 30, (in thousands) 2021 2020 2021 2020 Revenues: B&W Renewable segment B&W Renewable $ 24,701 $ 27,066 $ 42,698 $ 49,404 Vølund 13,643 16,443 24,457 30,104 38,344 43,509 67,155 79,508 B&W Environmental segment B&W Environmental 10,995 10,513 28,428 23,448 SPIG 13,194 10,850 24,378 22,187 GMAB 4,169 3,809 6,712 5,457 28,358 25,172 59,518 51,092 B&W Thermal segment B&W Thermal 136,316 67,212 244,597 153,895 136,316 67,212 244,597 153,895 Other (158) (496) (162) (544) Total Revenues $ 202,860 $ 135,397 $ 371,108 $ 283,951 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, net pension benefits, restructuring costs, impairments, gains and losses on debt extinguishment, costs related to financial consulting, research and development costs and other costs that may not be directly controllable by segment management are not allocated to the segments. Adjusted EBITDA for each segment is presented below with a reconciliation to net income (loss) attributable to stockholders of common stock. Three months ended June 30, Six months ended June 30, (in thousands) 2021 2020 2021 2020 Adjusted EBITDA (1) B&W Renewable segment $ 3,427 $ (138) $ 3,631 $ (1,572) B&W Environmental segment 2,698 (1,146) 3,799 (769) B&W Thermal segment 12,431 8,018 22,861 15,592 Corporate (2,997) (3,805) (5,682) (7,948) Research and development costs (485) (1,231) (1,073) (2,572) 15,074 1,698 23,536 2,731 Restructuring activities (2,400) (2,392) (3,393) (4,343) Financial advisory services (1,299) (582) (2,232) (1,511) Advisory fees for settlement costs and liquidity planning (2,059) (1,155) (4,037) (3,769) Litigation legal costs (1,167) (252) (1,547) (948) Stock compensation (51) (1,187) (7,880) (1,899) Interest on letters of credit included in cost of operations (320) (172) (606) (399) Income (loss) from business held for sale — 470 (483) (318) Depreciation & amortization (4,321) (4,032) (8,379) (8,240) Contract asset amortization (73) — (73) — ClimateBright TM product development (263) — (263) — Gain (loss) from a non-strategic business (299) (97) (287) (218) Gain (loss) on asset disposals, net (38) (2) 1,966 913 Operating income (loss) 2,784 (7,703) (3,678) (18,001) Interest expense, net (7,875) (15,259) (21,989) (37,310) Gain (loss) on debt extinguishment 6,530 (6,194) 6,530 (6,194) (Loss) gain on sale of business (2,598) (108) (2,240) (108) Net pension benefit 5,924 7,450 15,022 14,986 Foreign exchange 1,826 7,112 617 (2,214) Other – net 96 (2,586) (182) (2,792) Total other income (expense) 3,903 (9,585) (2,242) (33,632) Income (loss) before income tax expense 6,687 (17,288) (5,920) (51,633) Income tax expense 3,546 845 6,382 35 Income (loss) from continuing operations 3,141 (18,133) (12,302) (51,668) (Loss) income from discontinued operations, net of tax — (113) — 1,800 Net income (loss) 3,141 (18,246) (12,302) (49,868) Net (income) loss attributable to non-controlling interest (15) 142 (36) 238 Net income (loss) attributable to stockholders 3,126 (18,104) (12,338) (49,630) Less: Dividend on Series A preferred stock 1,731 — 1,731 — Net income (loss) attributable to stockholders of common stock $ 1,395 $ (18,104) $ (14,069) $ (49,630) (1) Adjusted EBITDA for the three and six months ended June 30, 2020, excludes losses related to a non-strategic business and interest on letters of credit included in cost of operations that were previously included in Adjusted EBITDA and total $0.1 million and $0.2 million, respectively, and $0.2 million and $0.4 million, respectively.

REVENUE RECOGNITION AND CONTRAC

REVENUE RECOGNITION AND CONTRACTS	6 Months Ended
	Jun. 30, 2021
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, accounted for 18% and 31% for the three months ended June 30, 2021 and 2020, respectively, and 22% and 31% of our revenue for the six months ended June 30, 2021 and 2020, respectively. Revenue from products and services transferred to customers over time, which primarily relates to customized, engineered solutions and construction services, accounted for 82% and 69% for the three months ended June 30, 2021 and 2020, respectively, and 78% and 69% of our revenue for the six months ended June 30, 2021 and 2020, respectively. Refer to Note 3 for our disaggregation of revenue by product line. 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) June 30, 2021 December 31, 2020 $ Change % Change Contract assets - included in contracts in progress: Costs incurred less costs of revenue recognized $ 25,766 $ 25,888 $ (122) — % Revenues recognized less billings to customers 38,171 33,420 4,751 14 % Contracts in progress $ 63,937 $ 59,308 $ 4,629 8 % Contract liabilities - included in advance billings on contracts: Billings to customers less revenues recognized $ 51,361 $ 61,884 $ (10,523) (17) % Costs of revenue recognized less cost incurred 1,781 2,118 (337) (16) % Advance billings on contracts $ 53,142 $ 64,002 $ (10,860) (17) % Net contract balance $ 10,795 $ (4,694) $ 15,489 (330) % Accrued contract losses $ 321 $ 582 $ (261) (45) % Backlog On June 30, 2021 we had $500.0 million of remaining performance obligations, which we also refer to as total backlog. We expect to recognize approximately 45.2%, 21.2% and 33.6% of our remaining performance obligations as revenue in the remainder of 2021, 2022 and thereafter, respectively. Changes in Contract Estimates In the three and six months ended June 30, 2021 and 2020, 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 June 30, Six months ended June 30, (in thousands) 2021 2020 2021 2020 Increases in gross profit for changes in estimates for over time contracts $ 2,314 $ 4,037 $ 5,339 $ 7,561 Decreases in gross profit for changes in estimates for over time contracts (3,137) (5,102) (4,495) (5,288) Net changes in gross profit for changes in estimates for over time contracts $ (823) $ (1,065) $ 844 $ 2,273 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. Four of the six contracts were 100% complete and the remaining two contracts were nearly 100% complete at June 30, 2021, with only limited warranty obligations remaining, and all have been turned over to the customers. In the three months ended June 30, 2021 and 2020, we recorded $0.0 million and $0.4 million in net losses, respectively, and in the six months ended June 30, 2021 and 2020, we recorded $0.1 million in net gains and $0.3 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 those contracts. All liquidated damages associated with these six contracts have been settled and paid as of December 31, 2020. In 2019, one of our other B&W Renewable energy contracts turned into a loss contract due to delays and other start-up costs prior to turnover to the client in October 2019. In the three and six months ended June 30, 2021 our estimated loss on the contract improved by $0.7 million, and in the three and six months ended June 30, 2020, we did not recognize additional charges on this contract. As of June 30, 2021, this contract was approximately 99% complete. In September 2017, we identified the failure of a structural steel beam on a contact for a biomass plant in the United Kingdom, The engineering, design and manufacturing of the steel structure were the responsibility of our subcontractors. A similar design was also used on two other 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. The total cost related to the structural steel issues on these three contracts was estimated to be approximately $36 million, which is included in the June 30, 2021 estimated losses at completion for these three contracts. We are continuing to aggressively pursue recovery of this cost from responsible subcontractors. 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. The Company is continuing to pursue other additional potential claims where appropriate and available. B&W Environmental Loss Contracts

INVENTORIES

INVENTORIES	6 Months Ended
	Jun. 30, 2021
Inventory Disclosure [Abstract]
INVENTORIES	INVENTORIES The components of inventories are as follows: (in thousands) June 30, 2021 December 31, 2020 Raw materials and supplies $ 47,482 $ 46,659 Work in progress 7,364 8,195 Finished goods 16,157 12,307 Total inventories $ 71,003 $ 67,161

PROPERTY, PLANT & EQUIPMENT, &

PROPERTY, PLANT & EQUIPMENT, & FINANCE LEASE	6 Months Ended
	Jun. 30, 2021
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) June 30, 2021 December 31, 2020 Land $ 1,550 $ 1,584 Buildings 34,096 34,207 Machinery and equipment 151,352 151,399 Property under construction 2,749 5,336 189,747 192,526 Less accumulated depreciation 139,850 135,925 Net property, plant and equipment 49,897 56,601 Finance lease 37,142 30,551 Less finance lease accumulated amortization 3,673 2,074 Net property, plant and equipment, and finance lease $ 83,366 $ 85,078

GOODWILL

GOODWILL	6 Months Ended
	Jun. 30, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
GOODWILL	GOODWILL The following summarizes the changes in the net carrying amount of goodwill as of June 30, 2021: (in thousands) B&W Renewable B&W Environmental B&W Thermal Total Balance at December 31, 2020 $ 10,211 $ 5,673 $ 31,479 $ 47,363 Currency translation adjustments 7 4 39 50 Balance at June 30, 2021 $ 10,218 $ 5,677 $ 31,518 $ 47,413 Goodwill is tested for impairment annually and when impairment indicators exist. No impairment indicators were identified during the three months ended June 30, 2021. Because the B&W Thermal, B&W Construction Co., LLC, B&W Renewable and B&W Environmental reporting units each had negative carrying values, reasonable changes in assumptions would not indicate impairment.

INTANGIBLE ASSETS

INTANGIBLE ASSETS	6 Months Ended
	Jun. 30, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
INTANGIBLE ASSETS	INTANGIBLE ASSETS Our intangible assets are as follows: (in thousands) June 30, 2021 December 31, 2020 Definite-lived intangible assets Customer relationships $ 24,110 $ 24,862 Unpatented technology 15,489 15,713 Patented technology 3,124 2,642 Tradename 12,879 13,088 All other 9,414 9,262 Gross value of definite-lived intangible assets 65,016 65,567 Customer relationships amortization (20,047) (19,537) Unpatented technology amortization (7,546) (6,751) Patented technology amortization (2,662) (2,593) Tradename amortization (5,133) (4,831) All other amortization (9,281) (9,252) Accumulated amortization (44,669) (42,964) Net definite-lived intangible assets $ 20,347 $ 22,603 Indefinite-lived intangible assets Trademarks and trade names $ 1,305 $ 1,305 Total intangible assets, net $ 21,652 $ 23,908 The following summarizes the changes in the carrying amount of intangible assets: Six months ended June 30, (in thousands) 2021 2020 Balance at beginning of period $ 23,908 $ 25,300 Amortization expense (1,705) (1,716) Currency translation adjustments (551) 81 Balance at end of the period $ 21,652 $ 23,665 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, 2021 $ 1,701 Year ending December 31, 2022 3,409 Year ending December 31, 2023 3,409 Year ending December 31, 2024 3,325 Year ending December 31, 2025 2,559 Year ending December 31, 2026 1,283 Thereafter 4,661

LEASES

LEASES	6 Months Ended
	Jun. 30, 2021
Leases [Abstract]
LEASES	LEASES Certain real property assets for our Copley, Ohio location were sold on March 15, 2021, as described in Note 24. In conjunction with the sale, we executed a leaseback agreement commencing March 16, 2021 and expiring on March 31, 2033. The lease is classified as a finance lease with total future minimum payments during the initial term of the lease of approximately $5.7 million as of June 30, 2021. An incremental borrowing rate of 7.19% was used to determine the right-of-use (the "ROU") asset. We recorded a $3.6 million ROU asset in net property, plant and equipment, and finance lease and corresponding liabilities of $3.8 million in other accrued liabilities and other non-current finance liabilities in the Condensed Consolidated Balance Sheets as of June 30, 2021 . The components of lease expense included on our Condensed Consolidated Statements of Operations were as follows: Three months ended June 30, Six months ended June 30, (in thousands) Classification 2021 2020 2021 2020 Operating lease expense: Operating lease expense Selling, general and administrative expenses $ 1,308 $ 1,389 $ 2,647 $ 2,896 Short-term lease expense Selling, general and administrative expenses 1,486 292 2,641 480 Variable lease expense (1) Selling, general and administrative expenses 471 (382) 679 394 Total operating lease expense $ 3,265 $ 1,299 $ 5,967 $ 3,770 Finance lease expense: Amortization of right-of-use assets Selling, general and administrative expenses $ 1,069 $ 514 $ 1,598 $ 1,029 Interest on lease liabilities Interest expense 708 616 1,324 1,231 Total finance lease expense $ 1,777 $ 1,130 $ 2,922 $ 2,260 Sublease income (2) Other – net $ (21) $ (21) $ (43) $ (43) Net lease cost $ 5,021 $ 2,408 $ 8,846 $ 5,987 (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: Six months ended June 30, (in thousands) 2021 2020 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 2,674 $ 2,743 Operating cash flows from finance leases 1,324 1,231 Financing cash flows from finance leases 834 (399) (in thousands) June 30, 2021 December 31, 2020 Right-of-use assets obtained in exchange for lease liabilities: Operating leases $ 1,281 $ 2,629 Finance leases $ 6,589 $ 146 Weighted-average remaining lease term: Operating leases (in years) 2.8 3.1 Finance leases (in years) 12.5 13.9 Weighted-average discount rate: Operating leases 9.11 % 9.26 % Finance leases 7.88 % 8.00 % Amounts relating to leases were presented on our Condensed Consolidated Balance Sheets in the following line items: (in thousands) Assets: Classification June 30, 2021 December 31, 2020 Operating lease assets Right-of-use assets $ 9,399 $ 10,814 Finance lease assets Net property, plant and equipment, and finance lease 33,469 28,477 Total non-current lease assets $ 42,868 $ 39,291 Liabilities: Current Operating lease liabilities Operating lease liabilities $ 3,728 $ 3,995 Finance lease liabilities Other accrued liabilities 3,095 886 Non-current Operating lease liabilities Non-current operating lease liabilities 5,888 7,031 Finance lease liabilities Non-current finance lease liabilities 33,237 29,690 Total lease liabilities $ 45,948 $ 41,602 Future minimum lease payments required under non-cancellable leases as of June 30, 2021 were as follows: (in thousands) Operating Leases Finance Leases Total 2021 (excluding the six months ended June 30, 2021) $ 2,410 $ 2,860 $ 5,270 2022 3,864 5,233 9,097 2023 2,572 3,879 6,451 2024 1,468 3,944 5,412 2025 411 3,969 4,380 Thereafter 7 38,412 38,419 Total $ 10,732 $ 58,297 $ 69,029 Less imputed interest (1,116) (21,965) (23,081) Lease liability $ 9,616 $ 36,332 $ 45,948
LEASES	LEASES Certain real property assets for our Copley, Ohio location were sold on March 15, 2021, as described in Note 24. In conjunction with the sale, we executed a leaseback agreement commencing March 16, 2021 and expiring on March 31, 2033. The lease is classified as a finance lease with total future minimum payments during the initial term of the lease of approximately $5.7 million as of June 30, 2021. An incremental borrowing rate of 7.19% was used to determine the right-of-use (the "ROU") asset. We recorded a $3.6 million ROU asset in net property, plant and equipment, and finance lease and corresponding liabilities of $3.8 million in other accrued liabilities and other non-current finance liabilities in the Condensed Consolidated Balance Sheets as of June 30, 2021 . The components of lease expense included on our Condensed Consolidated Statements of Operations were as follows: Three months ended June 30, Six months ended June 30, (in thousands) Classification 2021 2020 2021 2020 Operating lease expense: Operating lease expense Selling, general and administrative expenses $ 1,308 $ 1,389 $ 2,647 $ 2,896 Short-term lease expense Selling, general and administrative expenses 1,486 292 2,641 480 Variable lease expense (1) Selling, general and administrative expenses 471 (382) 679 394 Total operating lease expense $ 3,265 $ 1,299 $ 5,967 $ 3,770 Finance lease expense: Amortization of right-of-use assets Selling, general and administrative expenses $ 1,069 $ 514 $ 1,598 $ 1,029 Interest on lease liabilities Interest expense 708 616 1,324 1,231 Total finance lease expense $ 1,777 $ 1,130 $ 2,922 $ 2,260 Sublease income (2) Other – net $ (21) $ (21) $ (43) $ (43) Net lease cost $ 5,021 $ 2,408 $ 8,846 $ 5,987 (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: Six months ended June 30, (in thousands) 2021 2020 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 2,674 $ 2,743 Operating cash flows from finance leases 1,324 1,231 Financing cash flows from finance leases 834 (399) (in thousands) June 30, 2021 December 31, 2020 Right-of-use assets obtained in exchange for lease liabilities: Operating leases $ 1,281 $ 2,629 Finance leases $ 6,589 $ 146 Weighted-average remaining lease term: Operating leases (in years) 2.8 3.1 Finance leases (in years) 12.5 13.9 Weighted-average discount rate: Operating leases 9.11 % 9.26 % Finance leases 7.88 % 8.00 % Amounts relating to leases were presented on our Condensed Consolidated Balance Sheets in the following line items: (in thousands) Assets: Classification June 30, 2021 December 31, 2020 Operating lease assets Right-of-use assets $ 9,399 $ 10,814 Finance lease assets Net property, plant and equipment, and finance lease 33,469 28,477 Total non-current lease assets $ 42,868 $ 39,291 Liabilities: Current Operating lease liabilities Operating lease liabilities $ 3,728 $ 3,995 Finance lease liabilities Other accrued liabilities 3,095 886 Non-current Operating lease liabilities Non-current operating lease liabilities 5,888 7,031 Finance lease liabilities Non-current finance lease liabilities 33,237 29,690 Total lease liabilities $ 45,948 $ 41,602 Future minimum lease payments required under non-cancellable leases as of June 30, 2021 were as follows: (in thousands) Operating Leases Finance Leases Total 2021 (excluding the six months ended June 30, 2021) $ 2,410 $ 2,860 $ 5,270 2022 3,864 5,233 9,097 2023 2,572 3,879 6,451 2024 1,468 3,944 5,412 2025 411 3,969 4,380 Thereafter 7 38,412 38,419 Total $ 10,732 $ 58,297 $ 69,029 Less imputed interest (1,116) (21,965) (23,081) Lease liability $ 9,616 $ 36,332 $ 45,948
LEASES	LEASES Certain real property assets for our Copley, Ohio location were sold on March 15, 2021, as described in Note 24. In conjunction with the sale, we executed a leaseback agreement commencing March 16, 2021 and expiring on March 31, 2033. The lease is classified as a finance lease with total future minimum payments during the initial term of the lease of approximately $5.7 million as of June 30, 2021. An incremental borrowing rate of 7.19% was used to determine the right-of-use (the "ROU") asset. We recorded a $3.6 million ROU asset in net property, plant and equipment, and finance lease and corresponding liabilities of $3.8 million in other accrued liabilities and other non-current finance liabilities in the Condensed Consolidated Balance Sheets as of June 30, 2021 . The components of lease expense included on our Condensed Consolidated Statements of Operations were as follows: Three months ended June 30, Six months ended June 30, (in thousands) Classification 2021 2020 2021 2020 Operating lease expense: Operating lease expense Selling, general and administrative expenses $ 1,308 $ 1,389 $ 2,647 $ 2,896 Short-term lease expense Selling, general and administrative expenses 1,486 292 2,641 480 Variable lease expense (1) Selling, general and administrative expenses 471 (382) 679 394 Total operating lease expense $ 3,265 $ 1,299 $ 5,967 $ 3,770 Finance lease expense: Amortization of right-of-use assets Selling, general and administrative expenses $ 1,069 $ 514 $ 1,598 $ 1,029 Interest on lease liabilities Interest expense 708 616 1,324 1,231 Total finance lease expense $ 1,777 $ 1,130 $ 2,922 $ 2,260 Sublease income (2) Other – net $ (21) $ (21) $ (43) $ (43) Net lease cost $ 5,021 $ 2,408 $ 8,846 $ 5,987 (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: Six months ended June 30, (in thousands) 2021 2020 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 2,674 $ 2,743 Operating cash flows from finance leases 1,324 1,231 Financing cash flows from finance leases 834 (399) (in thousands) June 30, 2021 December 31, 2020 Right-of-use assets obtained in exchange for lease liabilities: Operating leases $ 1,281 $ 2,629 Finance leases $ 6,589 $ 146 Weighted-average remaining lease term: Operating leases (in years) 2.8 3.1 Finance leases (in years) 12.5 13.9 Weighted-average discount rate: Operating leases 9.11 % 9.26 % Finance leases 7.88 % 8.00 % Amounts relating to leases were presented on our Condensed Consolidated Balance Sheets in the following line items: (in thousands) Assets: Classification June 30, 2021 December 31, 2020 Operating lease assets Right-of-use assets $ 9,399 $ 10,814 Finance lease assets Net property, plant and equipment, and finance lease 33,469 28,477 Total non-current lease assets $ 42,868 $ 39,291 Liabilities: Current Operating lease liabilities Operating lease liabilities $ 3,728 $ 3,995 Finance lease liabilities Other accrued liabilities 3,095 886 Non-current Operating lease liabilities Non-current operating lease liabilities 5,888 7,031 Finance lease liabilities Non-current finance lease liabilities 33,237 29,690 Total lease liabilities $ 45,948 $ 41,602 Future minimum lease payments required under non-cancellable leases as of June 30, 2021 were as follows: (in thousands) Operating Leases Finance Leases Total 2021 (excluding the six months ended June 30, 2021) $ 2,410 $ 2,860 $ 5,270 2022 3,864 5,233 9,097 2023 2,572 3,879 6,451 2024 1,468 3,944 5,412 2025 411 3,969 4,380 Thereafter 7 38,412 38,419 Total $ 10,732 $ 58,297 $ 69,029 Less imputed interest (1,116) (21,965) (23,081) Lease liability $ 9,616 $ 36,332 $ 45,948

ACCRUED WARRANTY EXPENSE

ACCRUED WARRANTY EXPENSE	6 Months Ended
	Jun. 30, 2021
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: Six months ended June 30, (in thousands) 2021 2020 Balance at beginning of period $ 25,399 $ 33,376 Additions 3,608 2,063 Expirations and other changes (4,309) (1,584) Payments (8,576) (5,410) Translation and other 254 46 Balance at end of period $ 16,376 $ 28,491 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.

RESTRUCTURING ACTIVITIES

RESTRUCTURING ACTIVITIES	6 Months Ended
	Jun. 30, 2021
Restructuring and Related Activities [Abstract]
RESTRUCTURING ACTIVITIES	RESTRUCTURING ACTIVITIES The Company incurred restructuring charges in the three months ended June 30, 2021 and 2020. The charges primarily consist of severance costs related to actions taken, including as part of the Company’s strategic, market-focused organizational and re-branding initiative. During 2020, these charges also include actions taken to address the impact of COVID-19 on our business. The following table summarizes the restructuring activity incurred by segment: Three months ended June 30, Three months ended June 30, 2021 2020 (in thousands) Total Severance and related costs Other (1) Total Severance and related costs Other (1) B&W Renewable segment $ 557 $ 466 $ 91 $ 951 $ 155 $ 796 B&W Environmental segment 209 172 37 237 154 83 B&W Thermal segment 1,542 1,035 507 948 303 645 Corporate 92 8 84 256 — 256 $ 2,400 $ 1,681 $ 719 $ 2,392 $ 612 $ 1,780 Six months ended June 30, Six months ended June 30, 2021 2020 (in thousands) Total Severance and related costs Other (1) Total Severance and related costs Other (1) B&W Renewable segment $ 1,066 $ 919 $ 147 $ 1,752 $ 813 $ 939 B&W Environmental segment 298 207 91 377 211 166 B&W Thermal segment 1,890 1,047 843 1,889 689 1,200 Corporate 139 8 131 325 — 325 $ 3,393 $ 2,181 $ 1,212 $ 4,343 $ 1,713 $ 2,630 Cumulative costs to date $ 43,707 35,394 8,313 (1) Other amounts consist primarily of exit, relocation, COVID-19 related 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 June 30, Six months ended June 30, (in thousands) 2021 2020 2021 2020 Balance at beginning of period $ 8,022 $ 5,341 $ 8,146 $ 5,358 Restructuring expense 2,400 2,392 3,393 4,343 Payments (2,477) (2,646) (3,594) (4,614) Balance at end of period $ 7,945 $ 5,087 $ 7,945 $ 5,087 The payments shown above for the three months ended June 30, 2021 and 2020 relate primarily to severance. Accrued restructuring liabilities at June 30, 2021 and 2020 relate primarily to employee termination benefits.

PENSION PLANS AND OTHER POSTRET

PENSION PLANS AND OTHER POSTRETIREMENT BENEFITS	6 Months Ended
	Jun. 30, 2021
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 June 30, Six months ended June 30, Three months ended June 30, Six months ended June 30, (in thousands) 2021 2020 2021 2020 2021 2020 2021 2020 Interest cost $ 5,609 $ 8,250 $ 11,280 $ 16,511 $ 39 $ 72 $ 78 $ 144 Expected return on plan assets (11,773) (15,544) (26,782) (31,185) — — — — Amortization of prior service cost (credit) 28 43 56 86 173 (271) 346 (542) Benefit plans, net (1) (6,136) (7,251) (15,446) (14,588) 212 (199) 424 (398) Service cost included in COS (2) 218 209 435 420 6 4 12 9 Net periodic benefit cost (benefit) $ (5,918) $ (7,042) $ (15,011) $ (14,168) $ 218 $ (195) $ 436 $ (389) (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. There were no mark-to-market adjustments for our pension and other postretirement benefit plans during the three and six months ended June 30, 2021 and 2020. We made contributions to our pension and other postretirement benefit plans totaling $0.3 million and $24.3 million during the three and six months ended June 30, 2021, respectively, as compared to $0.6 million and $1.1 million during the three and six months ended June 30, 2020, respectively. Contributions made during the three months ended June 30, 2021 includes no interest and during the six months ended June 30, 2021 includes $0.4 million of interest as required per the CARES Act that was signed into law on March 27, 2020.

2021 SENIOR NOTES OFFERING

2021 SENIOR NOTES OFFERING	6 Months Ended
	Jun. 30, 2021
Debt Disclosure [Abstract]
2021 SENIOR NOTES OFFERING	2021 SENIOR NOTES OFFERING On February 12, 2021, we completed a public offering of $125.0 million aggregate principal amount of our 8.125% senior notes due 2026. At the completion of the offering, we received net proceeds of approximately $120.0 million after deducting underwriting discounts, commissions, and before expenses. In addition to the public offering, we issued $35.0 million of Senior Notes to B. Riley Financial, Inc. in exchange for a deemed prepayment of our existing Last Out Term Loan Tranche A-3 in a concurrent private offering. On March 31, 2021, we entered into a sales agreement with B. Riley Securities, Inc., a related party, in which we may sell to or through B. Riley Securities, Inc., from time to time, additional Senior Notes up to an aggregate principal amount of $150.0 million of Senior Notes. The Senior Notes have the same terms as (other than date of issuance), form a single series of debt securities with and have the same CUSIP number and be fungible with, the Senior Notes issued February 12, 2021, as described above. As of June 30, 2021, the Company has sold $12.9 million aggregate principal amount of Senior Notes under the sales agreement disclosed above for $13.1 million of net proceeds after commissions and fees. Subsequent to June 30, 2021 and as of August 12, 2021, the Company has sold $12.7 million aggregate principal amount of Senior Notes under the March 31, 2021 sales agreement disclosed above for $12.9 million of net proceeds after commission and fees. The components of the Senior Notes are as follows: (in thousands) June 30, 2021 8.125% Senior Notes due 2026 $ 172,882 Unamortized deferred financing costs (4,913) Unamortized premium 388 Net debt balance $ 168,357 The Senior Notes are senior unsecured obligations of the Company and rank equally in right of payment with all of the Company’s other existing and future senior unsecured and unsubordinated indebtedness. The Senior Notes bear interest at the rate of 8.125% per annum. Interest on the Senior Notes is payable quarterly in arrears on January 31, April 30, July 31 and October 31 of each year, commencing on April 30, 2021. The Senior Notes mature on February 28, 2026. Effective with the new debt facilities the Company entered into on June 30, 2021, as described in Note 15 below, the Company has no remaining Last Out Term Loans and no further borrowings thereunder are available. At December 31, 2020, the components of our Last Out Term Loans by tranche were as follows: December 31, 2020 (in thousands) A-3 A-4 A-6 Total Proceeds (1) $ 101,660 $ 30,000 $ 40,000 $ 171,660 Discount and fees 8,650 — — 8,650 Paid-in-kind interest 3,020 — — 3,020 Net debt balance $ 113,330 $ 30,000 $ 40,000 $ 183,330 (1) Tranche A-3 proceeds represent the net proceeds after the $39.7 million principal prepayment from the July 2019 Equitization Transactions. On February 12, 2021, in connection with the Exchange described in Note 13, the interest rate on the remaining Last Out Term Loans were reduced to 6.625% from 12.0%. Interest expense associated with the Last Out Term Loans is detailed in Note 18. 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. Tranche A-3 On March 4, 2021, we paid down an additional $40.0 million on our existing Tranche A-3. Also, as described in Note 16, on June 1, 2021, we issued 2,916,880 shares of the Company’s 7.75% Series A Cumulative Perpetual Preferred Stock and paid $0.4 million in cash to B. Riley, a related party, in exchange for a deemed prepayment of $73.3 million of our then existing Tranche A-3 and paid $0.9 million in cash for accrued interest. Tranche A-4 On January 31, 2020, we borrowed $30.0 million face value of the Tranche A-4 from B. Riley, a related party and received net proceeds of $26.3 million after incurring total fees of $3.7 million. On March 4, 2021, we paid down the $30.0 million outstanding on our existing Tranche A-4. Tranche A-6 On May 14, 2020, we borrowed $30.0 million face value of the Tranche A-6 from B. Riley, a related party, as described in Note 15. On November 30, 2020, we borrowed an additional $10.0 million face value of the Tranche A-6 pursuant to the terms of the A&R Credit Agreement which required the proceeds to be applied as a permanent reduction of the U.S. Revolving Credit Facility.

LAST OUT TERM LOANS

LAST OUT TERM LOANS	6 Months Ended
	Jun. 30, 2021
Debt Disclosure [Abstract]
LAST OUT TERM LOANS	2021 SENIOR NOTES OFFERING On February 12, 2021, we completed a public offering of $125.0 million aggregate principal amount of our 8.125% senior notes due 2026. At the completion of the offering, we received net proceeds of approximately $120.0 million after deducting underwriting discounts, commissions, and before expenses. In addition to the public offering, we issued $35.0 million of Senior Notes to B. Riley Financial, Inc. in exchange for a deemed prepayment of our existing Last Out Term Loan Tranche A-3 in a concurrent private offering. On March 31, 2021, we entered into a sales agreement with B. Riley Securities, Inc., a related party, in which we may sell to or through B. Riley Securities, Inc., from time to time, additional Senior Notes up to an aggregate principal amount of $150.0 million of Senior Notes. The Senior Notes have the same terms as (other than date of issuance), form a single series of debt securities with and have the same CUSIP number and be fungible with, the Senior Notes issued February 12, 2021, as described above. As of June 30, 2021, the Company has sold $12.9 million aggregate principal amount of Senior Notes under the sales agreement disclosed above for $13.1 million of net proceeds after commissions and fees. Subsequent to June 30, 2021 and as of August 12, 2021, the Company has sold $12.7 million aggregate principal amount of Senior Notes under the March 31, 2021 sales agreement disclosed above for $12.9 million of net proceeds after commission and fees. The components of the Senior Notes are as follows: (in thousands) June 30, 2021 8.125% Senior Notes due 2026 $ 172,882 Unamortized deferred financing costs (4,913) Unamortized premium 388 Net debt balance $ 168,357 The Senior Notes are senior unsecured obligations of the Company and rank equally in right of payment with all of the Company’s other existing and future senior unsecured and unsubordinated indebtedness. The Senior Notes bear interest at the rate of 8.125% per annum. Interest on the Senior Notes is payable quarterly in arrears on January 31, April 30, July 31 and October 31 of each year, commencing on April 30, 2021. The Senior Notes mature on February 28, 2026. Effective with the new debt facilities the Company entered into on June 30, 2021, as described in Note 15 below, the Company has no remaining Last Out Term Loans and no further borrowings thereunder are available. At December 31, 2020, the components of our Last Out Term Loans by tranche were as follows: December 31, 2020 (in thousands) A-3 A-4 A-6 Total Proceeds (1) $ 101,660 $ 30,000 $ 40,000 $ 171,660 Discount and fees 8,650 — — 8,650 Paid-in-kind interest 3,020 — — 3,020 Net debt balance $ 113,330 $ 30,000 $ 40,000 $ 183,330 (1) Tranche A-3 proceeds represent the net proceeds after the $39.7 million principal prepayment from the July 2019 Equitization Transactions. On February 12, 2021, in connection with the Exchange described in Note 13, the interest rate on the remaining Last Out Term Loans were reduced to 6.625% from 12.0%. Interest expense associated with the Last Out Term Loans is detailed in Note 18. 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. Tranche A-3 On March 4, 2021, we paid down an additional $40.0 million on our existing Tranche A-3. Also, as described in Note 16, on June 1, 2021, we issued 2,916,880 shares of the Company’s 7.75% Series A Cumulative Perpetual Preferred Stock and paid $0.4 million in cash to B. Riley, a related party, in exchange for a deemed prepayment of $73.3 million of our then existing Tranche A-3 and paid $0.9 million in cash for accrued interest. Tranche A-4 On January 31, 2020, we borrowed $30.0 million face value of the Tranche A-4 from B. Riley, a related party and received net proceeds of $26.3 million after incurring total fees of $3.7 million. On March 4, 2021, we paid down the $30.0 million outstanding on our existing Tranche A-4. Tranche A-6 On May 14, 2020, we borrowed $30.0 million face value of the Tranche A-6 from B. Riley, a related party, as described in Note 15. On November 30, 2020, we borrowed an additional $10.0 million face value of the Tranche A-6 pursuant to the terms of the A&R Credit Agreement which required the proceeds to be applied as a permanent reduction of the U.S. Revolving Credit Facility.

REVOLVING DEBT

REVOLVING DEBT	6 Months Ended
	Jun. 30, 2021
Debt Disclosure [Abstract]
REVOLVING DEBT	REVOLVING DEBT Debt Facilities On June 30, 2021, we entered into a Revolving Credit Agreement (the “Revolving Credit Agreement”) with PNC Bank, National Association, as administrative agent (“PNC”) and a letter of credit agreement (the “Letter of Credit Agreement”) with PNC, pursuant to which PNC has agreed to issue up to $110 million in letters of credit that is secured in part by cash collateral provided by an affiliate of MSD Partners, MSD PCOF Partners XLV, LLC (“MSD”), as well as a reimbursement, guaranty and security agreement with MSD, as administrative agent, and the cash collateral providers from time to time party thereto, along with certain of our subsidiaries as guarantors, pursuant to which we are obligated to reimburse MSD and any other cash collateral provider to the extent the cash collateral provided by MSD and any other cash collateral provider to secure the Letter of Credit Agreement is drawn to satisfy draws on letters of credit (“Reimbursement Agreement” and collectively with the Revolving Credit Agreement and Letter of Credit Agreement, the “Debt Documents” and the facilities thereunder, the “Debt Facilities”). The obligations of the Company under each of the Debt Facilities are guaranteed by certain existing and future domestic and foreign subsidiaries of the Company. B. Riley Financial, Inc. (“B. Riley”), a related party, has provided a guaranty of payment with regard to the Company’s obligations under the Reimbursement Agreement, as described below. The Company expects to use the proceeds and letter of credit availability under the Debt Facilities for working capital purposes and general corporate purposes, including to backstop certain letters of credit issued under our previous A&R Credit Agreement, dated as of May 14, 2020 (as amended, restated or otherwise modified from time to time), by and among the Company, as borrower, Bank of America, N.A., as administrative agent, the lenders and the other parties from time to time party thereto, which was repaid and commitments thereunder terminated as of June 30, 2021. The Revolving Credit Agreement matures on June 30, 2025. Each of the Debt Facilities has a maturity date of June 30, 2025. The interest rates applicable under the Revolving Credit Agreement float at a rate per annum equal to either (i) a base rate plus 2.0% or (ii) 1 or 3 month reserve-adjusted LIBOR rate plus 3.0%. The interest rates applicable to the Reimbursement Agreement float at a rate per annum equal to either (i) a base rate plus 6.50% or (ii) 1 or 3 month reserve-adjusted LIBOR plus 7.50%. Under the Letter of Credit Agreement, the Company is required to pay letter of credit fees on outstanding letters of credit equal to (i) the applicable spread over LIBOR on the aggregate face amount of the letters of credit issued under the Revolving Credit Agreement, (ii) administrative fees of 0.75% and (iii) fronting fees of 0.25%. Under each of the Revolving Credit Agreement and the Letter of Credit Agreement, we are required to pay a facility fee equal to 0.375% per annum of the unused portion of the Revolving Credit Agreement or the Letter of Credit Agreement, respectively. The Company is permitted to prepay all or any portion of the loans under the Revolving Credit Agreement prior to maturity without premium or penalty. Prepayments under the Reimbursement Agreement shall be subject to a prepayment fee of 2.25% in the first year after closing, 2.0% in the second year after closing and 1.25% in the third year after closing, with no prepayment fee payable thereafter. The Company has mandatory prepayment obligations under the Reimbursement Agreement upon the receipt of proceeds from certain dispositions or casualty or condemnation events. The Revolving Credit Agreement and Letter of Credit Agreement require mandatory prepayments to the extent of an over-advance. The obligations under the Debt Facilities are secured by substantially all assets of the Company and each of the guarantors, in each case subject to inter-creditor arrangements. As noted above, the obligations under the Letter of Credit Facility are also secured by the cash collateral provided by MSD and any other cash collateral provider thereunder. The Debt Documents contain certain representations and warranties, affirmative covenants, negative covenants and conditions that are customarily required for similar financings. The Debt Documents require the Company to comply with certain financial maintenance covenants, including a quarterly fixed charge coverage test of not less than 1.00 to 1.00, a quarterly senior net leverage ratio test of not greater than 2.50 to 1.00, a non-guarantor cash repatriation covenant not to exceed $35 million at any one time, a minimum liquidity covenant of at least $30.0 million at all times, and an annual cap on maintenance capital expenditures of $7.5 million. The Debt Documents also contain customary events of default (subject, in certain instances, to specified grace periods) including, but not limited to, the failure to make payments of interest or premium, if any, on, or principal under the respective facility, the failure to comply with certain covenants and agreements specified in the applicable Debt Agreement, defaults in respect of certain other indebtedness, and certain events of insolvency. If any event of default occurs, the principal, premium, if any, interest and any other monetary obligations on all the then outstanding amounts under the Debt Documents may become due and payable immediately. In connection with the Company’s entry into the Debt Documents, on June 30, 2021, B. Riley, a related party, entered into a Guaranty Agreement in favor of MSD, in its capacity as administrative agent under the Reimbursement Agreement, for the ratable benefit of MSD, the cash collateral providers and each co-agent or sub-agent appointed by MSD from time to time (the “B. Riley Guaranty”). The B. Riley Guaranty provides for the guarantee of all of the Company’s obligations under the Reimbursement Agreement. The B. Riley Guaranty is enforceable in certain circumstances, including, among others, certain events of default and the acceleration of the Company’s obligations under the Reimbursement Agreement. Under a fee letter with B. Riley, the Company agreed to pay B. Riley $0.9 million per annum in connection with the B. Riley Guaranty. The Company entered into a reimbursement agreement with B. Riley governing the Company’s obligation to reimburse B. Riley to the extent the B. Riley Guaranty is called upon by the agent or lenders under the Reimbursement Agreement. A&R Credit Agreement As described above, the A&R Credit Agreement commitments were terminated, all loans were repaid and all outstanding and undrawn letters of credit were collateralized on June 30, 2021. The Company recognized a gain on debt extinguishment of $6.5 million in the quarter ended June 30, 2021, primarily representing the write-off of accrued revolver fees of $11.3 million offset by the unamortized deferred financing fees of $4.8 million related to the prior A&R Credit Agreement. 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 outstanding outside our prior A&R Credit Agreement as of June 30, 2021 was $57.3 million. The aggregate value of the outstanding letters of credit provided by our prior A&R Credit Agreement backstopping letters of credit or bank guarantees was $22.1 million as of June 30, 2021. Of the outstanding letters of credit issued under our prior A&R Credit Agreement, $32.1 million are subject to foreign currency revaluation. At June 30, 2021, usage under the prior A&R Credit Agreement consisted of $22.0 million of financial letters of credit and $79.7 million of performance letters of credit. We have also 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 June 30, 2021, bonds issued and outstanding under these arrangements in support of contracts totaled approximately $259.3 million. The aggregate value of the letters of credit provided by our prior A&R Credit Agreement backstopping surety bonds was $24.6 million. Our ability to obtain and maintain sufficient capacity under our new Debt Facilities 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. Other Indebtedness - Loan Payable During the six months ended June 30, 2021, our Denmark subsidiary received two unsecured interest free loans totaling $2.6 million under a local government loan program related to COVID-19. The loans of $0.9 million and $1.7 million are payable in April 2022 and May 2022, respectively. Subsequent to June 30, 2021, our Denmark subsidiary received an unsecured interest free loan totaling $0.9 million under a local government loan program related to COVID-19. The loan is payable in May 2023.

PREFERRED STOCK

PREFERRED STOCK	6 Months Ended
	Jun. 30, 2021
Equity [Abstract]
PREFERRED STOCK	PREFERRED STOCK On May 7, 2021, we completed a public offering of our 7.75% Series A Cumulative Perpetual Preferred Stock (the "Preferred Stock") pursuant to an underwriting agreement (the “Underwriting Agreement”) dated May 4, 2021, between us and B. Riley Securities, Inc., as representative of several underwriters (the “Underwriters”). At the closing, we issued to the public 4,000,000 shares of our Preferred Stock, at an offering price of $25.00 per share for net proceeds of approximately $95.7 million after deducting underwriting discounts, commissions but before expenses. The Preferred Stock has a par value of $0.01 per share and is perpetual and has no maturity date. The Preferred Stock has a cumulative cash dividend, when and as if declared by our Board of Directors, at a rate of 7.75% per year on the liquidation preference amount of $25.00 per share and payable quarterly in arrears. On May 26, 2021, we completed the additional sale of 444,700 shares of our Preferred Stock, related to the grant to the underwriters described above, at an offering price of $25.00 per share for net proceeds of approximately $10.7 million after deducting underwriting fees. The Preferred Stock ranks, as to dividend rights and rights as to the distribution of assets upon our liquidation, dissolution or winding-up: (1) senior to all classes or series of our common stock and to all other capital stock issued by us expressly designated as ranking junior to the Preferred Stock; (2) on parity with any future class or series of our capital stock expressly designated as ranking on parity with the Preferred Stock; (3) junior to any future class or series of our capital stock expressly designated as ranking senior to the Preferred Stock; and (4) junior to all our existing and future indebtedness. The Preferred Stock has no stated maturity and is not subject to mandatory redemption or any sinking fund. We will pay cumulative cash dividends on the Preferred Stock when, as and if declared by our Board of Directors (or a duly authorized committee of our Board of Directors), only out of funds legally available for payment of dividends. Dividends on the Preferred Stock will accrue on the stated amount of $25.00 per share of the Preferred Stock at a rate per annum equal to 7.75% (equivalent to $1.9375 per year), payable quarterly in arrears. Dividends on the Series A Preferred Stock declared by our Board of Directors (or a duly authorized committee of our Board of Directors) will be payable quarterly in arrears on March 31, June 30, September 30 and December 31, beginning on June 30, 2021. On June 8, 2021, the Company's Board of Directors approved a dividend of $0.290625 per share of the Company's outstanding Preferred Stock, with a record date for the dividend of June 18, 2021 and a payment date of June 30, 2021. On June 30, 2021, the Company paid dividends totaling $1.7 million. After the Company paid the dividends on June 30, 2021, there are no cumulative undeclared dividends of the Preferred Stock at June 30, 2021. On June 1, 2021, the Company and B. Riley, a related party, entered into an agreement (the “Exchange Agreement”) pursuant to which we (i) issued B. Riley 2,916,880 shares of our Preferred Stock, representing an exchange price of $25.00 per share and paid $0.4 million in cash, and (ii) paid $0.9 million in cash to B. Riley for accrued interest due, in exchange for a deemed prepayment of $73.3 million of our then existing term loans with B. Riley under the Company’s A&R Credit Agreement. On July 7, 2021, we entered into a sales agreement with B. Riley Securities, Inc., a related party, in connection with the offer and to or through B. Riley Securities, Inc., from time to time, additional shares of Preferred Stock up to an aggregate amount of $76.0 million of Preferred Stock. The Preferred Stock will have the same terms as (other than date of issuance and first dividend) with and have the same CUSIP number and be fungible with, the Preferred Stock issued during May 2021. The first dividend for the Preferred Stock issued thereunder, when, as and if declared, will accumulate and be cumulative from the dividend payment date (March 31, June 30, September 30 and December 31 of each year) for which full cumulative dividends have been paid immediately prior to the original issue date for each such share. Subsequent to June 30, 2021 and as of August 12, 2021, the Company sold $5.9 million aggregate amount of Preferred Stock for $5.9 million net proceeds after commission and fees related to the July 7, 2021 sales agreement disclosed above. The net proceeds of the offerings are intended to be used for general corporate purposes, including clean energy growth initiatives, potential future acquisitions and reduction of net leverage. On February 12, 2021, we completed a public offering of our common stock pursuant to an underwriting agreement (the “Underwriting Agreement”) dated February 9, 2021, between us and B. Riley Securities, Inc., as representative of the several underwriters (the “Underwriters”). At the closing, we issued to the public 29,487,180 shares of our common stock and received net proceeds of approximately $163.0 million after deducting underwriting discounts and commissions, but before expenses. The net proceeds of the offering were used to make a prepayment toward the balance outstanding under our U.S. Revolving Credit Facility and permanently reduce the commitments under our senior secured credit facilities. On May 20, 2021, at the 2021 annual meeting of stockholders of the Company, the stockholders of the Company, upon the recommendation of the Company’s Board of Directors, approved the Babcock & Wilcox Enterprises, Inc. 2021 Long-Term Incentive Plan. The 2021 Plan became effective upon such stockholder approval. The maximum number of shares of the Company’s common stock (the “Common Stock”) that may be issued or transferred pursuant to awards under the 2021 Plan equals: (1) 1,250,000 shares, plus (2) the number of any shares subject to awards granted under the Company’s Amended and Restated 2015 Long-Term Incentive Plan (the “2015 Plan”) and outstanding as of May 20, 2021 which expire, or are terminated, surrendered, or forfeited for any reason without issuance of such shares (including for outstanding performance share awards to the extent they are earned at less than maximum). No new awards may be granted under the 2015 Plan. As of May 20, 2021 (immediately prior to the stockholder approval of the 2021 Plan), the total number of shares of Common Stock subject to outstanding awards granted under the 2015 Plan was 2,007,152 shares.

COMMON STOCK

COMMON STOCK	6 Months Ended
	Jun. 30, 2021
Equity [Abstract]
COMMON STOCK	PREFERRED STOCK On May 7, 2021, we completed a public offering of our 7.75% Series A Cumulative Perpetual Preferred Stock (the "Preferred Stock") pursuant to an underwriting agreement (the “Underwriting Agreement”) dated May 4, 2021, between us and B. Riley Securities, Inc., as representative of several underwriters (the “Underwriters”). At the closing, we issued to the public 4,000,000 shares of our Preferred Stock, at an offering price of $25.00 per share for net proceeds of approximately $95.7 million after deducting underwriting discounts, commissions but before expenses. The Preferred Stock has a par value of $0.01 per share and is perpetual and has no maturity date. The Preferred Stock has a cumulative cash dividend, when and as if declared by our Board of Directors, at a rate of 7.75% per year on the liquidation preference amount of $25.00 per share and payable quarterly in arrears. On May 26, 2021, we completed the additional sale of 444,700 shares of our Preferred Stock, related to the grant to the underwriters described above, at an offering price of $25.00 per share for net proceeds of approximately $10.7 million after deducting underwriting fees. The Preferred Stock ranks, as to dividend rights and rights as to the distribution of assets upon our liquidation, dissolution or winding-up: (1) senior to all classes or series of our common stock and to all other capital stock issued by us expressly designated as ranking junior to the Preferred Stock; (2) on parity with any future class or series of our capital stock expressly designated as ranking on parity with the Preferred Stock; (3) junior to any future class or series of our capital stock expressly designated as ranking senior to the Preferred Stock; and (4) junior to all our existing and future indebtedness. The Preferred Stock has no stated maturity and is not subject to mandatory redemption or any sinking fund. We will pay cumulative cash dividends on the Preferred Stock when, as and if declared by our Board of Directors (or a duly authorized committee of our Board of Directors), only out of funds legally available for payment of dividends. Dividends on the Preferred Stock will accrue on the stated amount of $25.00 per share of the Preferred Stock at a rate per annum equal to 7.75% (equivalent to $1.9375 per year), payable quarterly in arrears. Dividends on the Series A Preferred Stock declared by our Board of Directors (or a duly authorized committee of our Board of Directors) will be payable quarterly in arrears on March 31, June 30, September 30 and December 31, beginning on June 30, 2021. On June 8, 2021, the Company's Board of Directors approved a dividend of $0.290625 per share of the Company's outstanding Preferred Stock, with a record date for the dividend of June 18, 2021 and a payment date of June 30, 2021. On June 30, 2021, the Company paid dividends totaling $1.7 million. After the Company paid the dividends on June 30, 2021, there are no cumulative undeclared dividends of the Preferred Stock at June 30, 2021. On June 1, 2021, the Company and B. Riley, a related party, entered into an agreement (the “Exchange Agreement”) pursuant to which we (i) issued B. Riley 2,916,880 shares of our Preferred Stock, representing an exchange price of $25.00 per share and paid $0.4 million in cash, and (ii) paid $0.9 million in cash to B. Riley for accrued interest due, in exchange for a deemed prepayment of $73.3 million of our then existing term loans with B. Riley under the Company’s A&R Credit Agreement. On July 7, 2021, we entered into a sales agreement with B. Riley Securities, Inc., a related party, in connection with the offer and to or through B. Riley Securities, Inc., from time to time, additional shares of Preferred Stock up to an aggregate amount of $76.0 million of Preferred Stock. The Preferred Stock will have the same terms as (other than date of issuance and first dividend) with and have the same CUSIP number and be fungible with, the Preferred Stock issued during May 2021. The first dividend for the Preferred Stock issued thereunder, when, as and if declared, will accumulate and be cumulative from the dividend payment date (March 31, June 30, September 30 and December 31 of each year) for which full cumulative dividends have been paid immediately prior to the original issue date for each such share. Subsequent to June 30, 2021 and as of August 12, 2021, the Company sold $5.9 million aggregate amount of Preferred Stock for $5.9 million net proceeds after commission and fees related to the July 7, 2021 sales agreement disclosed above. The net proceeds of the offerings are intended to be used for general corporate purposes, including clean energy growth initiatives, potential future acquisitions and reduction of net leverage. On February 12, 2021, we completed a public offering of our common stock pursuant to an underwriting agreement (the “Underwriting Agreement”) dated February 9, 2021, between us and B. Riley Securities, Inc., as representative of the several underwriters (the “Underwriters”). At the closing, we issued to the public 29,487,180 shares of our common stock and received net proceeds of approximately $163.0 million after deducting underwriting discounts and commissions, but before expenses. The net proceeds of the offering were used to make a prepayment toward the balance outstanding under our U.S. Revolving Credit Facility and permanently reduce the commitments under our senior secured credit facilities. On May 20, 2021, at the 2021 annual meeting of stockholders of the Company, the stockholders of the Company, upon the recommendation of the Company’s Board of Directors, approved the Babcock & Wilcox Enterprises, Inc. 2021 Long-Term Incentive Plan. The 2021 Plan became effective upon such stockholder approval. The maximum number of shares of the Company’s common stock (the “Common Stock”) that may be issued or transferred pursuant to awards under the 2021 Plan equals: (1) 1,250,000 shares, plus (2) the number of any shares subject to awards granted under the Company’s Amended and Restated 2015 Long-Term Incentive Plan (the “2015 Plan”) and outstanding as of May 20, 2021 which expire, or are terminated, surrendered, or forfeited for any reason without issuance of such shares (including for outstanding performance share awards to the extent they are earned at less than maximum). No new awards may be granted under the 2015 Plan. As of May 20, 2021 (immediately prior to the stockholder approval of the 2021 Plan), the total number of shares of Common Stock subject to outstanding awards granted under the 2015 Plan was 2,007,152 shares.

INTEREST EXPENSE AND SUPPLEMENT

INTEREST EXPENSE AND SUPPLEMENTAL CASH FLOW INFORMATION	6 Months Ended
	Jun. 30, 2021
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 June 30, Six months ended June 30, (in thousands) 2021 2020 2021 2020 Components associated with borrowings from: Senior Notes $ 3,459 $ — $ 5,192 $ — Last Out Term Loans 837 4,828 4,349 8,875 U.S. Revolving Credit Facility — 3,409 1,416 7,448 4,296 8,237 10,957 16,323 Components associated with amortization or accretion of: Senior Notes 298 — 1,766 — Last Out Term Loans - discount and financing fees — 1,579 — 3,729 U.S. Revolving Credit Facility - deferred financing fees and commitment fees 1,595 3,629 5,995 12,664 U.S. Revolving Credit Facility - deferred ticking fee for Amendment 16 — 2 — 1,660 1,893 5,210 7,761 18,053 Other interest expense 1,832 2,035 3,526 3,197 Total interest expense $ 8,021 $ 15,482 $ 22,244 $ 37,573 The following table provides a reconciliation of cash and cash equivalents and restricted cash reporting that sum to the total cash amount in the Condensed Consolidated Balance Sheets and Condensed Consolidated Statements of Cash Flows: (in thousands) June 30, 2021 December 31, 2020 June 30, 2020 Held by foreign entities $ 27,822 $ 38,726 $ 34,676 Held by U.S. entities 2,238 18,612 2,139 Cash and cash equivalents 30,060 57,338 36,815 Reinsurance reserve requirements 590 4,551 5,596 Restricted foreign accounts — 2,869 2,661 Bank guarantee collateral 2,240 2,665 3,044 Letters of credit collateral 110,708 — — Restricted cash and cash equivalents 113,538 10,085 11,301 Total cash, cash equivalents and restricted cash shown in the Condensed Consolidated Balance Sheets and Condensed Consolidated Statements of Cash Flows $ 143,598 $ 67,423 $ 48,116 As disclosed above, letters of credit collateral of $110.7 million as of June 30, 2021 represents cash pledged to secure the outstanding and undrawn letters of credit issued under our prior A&R Credit Agreement, most of which are expected to be cancelled and replaced by new letters of credit issued by PNC, as described in Note 15 – Revolving Debt. Subsequent to June 30, 2021 and as of August 12, 2021, we have issued $60.7 million of backstop letters of credit issued by PNC and reclassified this amount from restricted cash and cash equivalents to cash and cash equivalents. We expect to issue new PNC letters of credit to the beneficiaries such that the letters of credit issued under the prior A&R Credit Agreement will be cancelled along with the backstop letters of credit issued by PNC. Further, we expect the completion of the issuance of new letters of credit to cover the remaining collateral balance of $50.0 million by PNC by September 30, 2021 which will alleviate any restricted use of the letters of credit collateral amount by the Company. 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 : Six months ended June 30, (in thousands) 2021 2020 Income tax payments, net $ 3,331 $ 1,438 Interest payments on our 8.125% Senior Notes due 2026 $ 2,911 $ — Interest payments on our U.S. Revolving Credit Facility 5,979 8,110 Interest payments on our Last Out Term Loans 6,140 6,140 Total cash paid for interest $ 15,030 $ 14,250

PROVISION FOR INCOME TAXES

PROVISION FOR INCOME TAXES	6 Months Ended
	Jun. 30, 2021
Income Tax Disclosure [Abstract]
PROVISION FOR INCOME TAXES	PROVISION FOR INCOME TAXES In the three months ended June 30, 2021, income tax expense was $3.5 million, resulting in an effective tax rate of 53.0%. In the three months ended June 30, 2020, income tax expense was $0.8 million, with an effective tax rate of (4.9)%. In the six months ended June 30, 2021, income tax expense was $6.4 million, resulting in an effective tax rate of (107.8)%. In the six months ended June 30, 2020, income tax expense was $35.0 thousand, resulting in an effective tax rate of (0.1)%. Our effective tax rate for the three and six months ended June 30, 2021 and 2020 is not reflective of the U.S. statutory rate due to valuation allowances against certain net deferred tax assets and discrete items. We have unfavorable discrete items of`$0.9 million and $3.5 million for the three and six months ended June 30, 2021, respectively, which primarily represent withholding taxes and adjustment to our United Kingdom deferred tax liabilities due to an enacted change in tax rate. We had favorable discrete items of $1.8 million and $1.3 million for the three and six months ended June 30, 2020, respectively.

CONTINGENCIES

CONTINGENCIES	6 Months Ended
	Jun. 30, 2021
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. On March 16, 2020 we filed a motion to dismiss, and on December 14, 2020 the court issued its order dismissing the fraud and negligent misrepresentation claims and finding that, in the event that parties’ contract is found to be valid, Plaintiffs’ claims for damages will be subject to the contractual cap on liability (defined as the $11.7 million purchase price subject to certain adjustments). On January 11, 2021, we filed our answer and a counterclaim for breach of contract, seeking damages in excess of $2.9 million. We intend to continue to vigorously litigate 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 SEC has taken testimony from past and current officers, directors, and employees in addition to also seeking testimony from certain third-parties. 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 ("Stockholder Litigation"). 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 case is currently in discovery. We believe that the outcome of the Stockholder Litigation will not have a material adverse impact on our condensed consolidated financial condition, results of operations or cash flows, net of any insurance coverage. Other Due to the nature of our business, we are, from time to time, involved in routine litigation or subject to disputes or claims related to our business activities, including, among other things: performance or warranty-related matters under our customer and supplier contracts and other business arrangements; and workers' compensation, premises liability and other claims. Based on our prior experience, we do not expect that any of these other litigation proceedings, disputes and claims will have a material adverse effect on our condensed consolidated financial condition, results of operations or cash flows.

COMPREHENSIVE INCOME

COMPREHENSIVE INCOME	6 Months Ended
	Jun. 30, 2021
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 2021 and 2020 were as follows: (in thousands) Currency translation Net unrecognized loss related to benefit plans Total Balance at December 31, 2020 $ (47,575) $ (4,815) $ (52,390) Other comprehensive loss before reclassifications (70) — (70) Reclassified from AOCI to net income (loss) (4,512) 198 (4,314) Net other comprehensive (loss) income (4,582) 198 (4,384) Balance at March 31, 2021 $ (52,157) $ (4,617) $ (56,774) Other comprehensive loss before reclassifications (1,478) — (1,478) Reclassified from AOCI to net income — 198 198 Net other comprehensive (loss) income (1,478) 198 (1,280) Balance at June 30, 2021 $ (53,635) $ (4,419) $ (58,054) (in thousands) Currency translation Net unrecognized loss related to benefit plans Total Balance at December 31, 2019 $ 5,743 $ (3,817) $ 1,926 Other comprehensive income before reclassifications 2,380 — 2,380 Reclassified from AOCI to net 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 loss before reclassifications (4,095) — (4,095) Reclassified from AOCI to net loss — (246) (246) Net other comprehensive loss (4,095) (246) (4,341) Balance at June 30, 2020 $ 4,028 $ (4,309) $ (281) 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 June 30, Six months ended June 30, 2021 2020 2021 2020 Release of currency translation adjustment with the sale of business Loss on sale of business $ — $ — $ 4,512 $ — Amortization of prior service cost on benefit obligations Benefit plans, net (198) 246 (396) 492 Net (loss) income $ (198) $ 246 $ 4,116 $ 492

FAIR VALUE MEASUREMENTS

FAIR VALUE MEASUREMENTS	6 Months Ended
	Jun. 30, 2021
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 June 30, 2021 Level 1 Level 2 Corporate notes and bonds $ 7,919 $ 7,919 $ — Mutual funds 678 — 678 United States Government and agency securities 5,144 5,144 — Total fair value of available-for-sale securities $ 13,741 $ 13,063 $ 678 (in thousands) Available-for-sale securities December 31, 2020 Level 1 Level 2 Corporate notes and bonds $ 6,139 $ 6,139 $ — Mutual funds 636 — 636 Corporate Stocks 4,168 4,168 — United States Government and agency securities 4,365 4,365 — Total fair value of available-for-sale securities $ 15,308 $ 14,672 $ 636 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 0-5 years. Senior Notes See Note 13 above for a discussion of our recent offerings of Senior Notes. The fair value of the Senior Notes is based on readily available quoted market prices as of June 30, 2021. (in thousands) June 30, 2021 Senior Notes Carrying Value Estimated Fair Value 8.125% Senior Notes due 2026 ('BWSN') $ 172,882 $ 179,105 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. • Last Out Term Loans and Revolving Debt . 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 Last Out Term Loans and Revolving Debt approximated their carrying value at December 31, 2020. • Warrants. The fair value of the warrants was established using the Black-Scholes option pricing model value approach.

RELATED PARTY TRANSACTIONS

RELATED PARTY TRANSACTIONS	6 Months Ended
	Jun. 30, 2021
Related Party Transactions [Abstract]
RELATED PARTY TRANSACTIONS	RELATED PARTY TRANSACTIONS Transactions with B. Riley Based on its Schedule 13D filings, B. Riley beneficially owns 33.1% of our outstanding common stock as of June 30, 2021. B. Riley was party to the Last Out Term Loans under our A&R Credit Agreement described in Note 14. We entered into an agreement with BRPI Executive Consulting, LLC, an affiliate of B. Riley, on November 19, 2018 and amended the agreement on November 9, 2020 to retain the services of Mr. Kenny Young, to serve as our Chief Executive Officer until December 31, 2023, 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. Total fees associated with B. Riley related to the Last Out Term Loans and services of Mr. Kenny Young, both as de scribed above, were $0.2 million and $0.4 million for the three and six months ended June 30, 2021, respectively, and were $3.3 million and $7.5 million for the three and six months ended June 30, 2020, respectively. On November 13, 2020 we entered into an agreement with B. Riley Principal Merger Corp. II, an affiliate of B. Riley, to purchase 200,000 shares of Class A common stock of Eos Energy Storage LLC for an aggregate purchase price of $2.0 million. The shares were sold in January 2021 for which the Company recognized net proceeds of $4.5 million. The public offering of our Senior Notes in February 2021, as described in Note 13, was conducted pursuant to an underwriting agreement dated February 10, 2021, between us and B. Riley Securities, Inc., as representative of several underwriters. At the closing date on February 12, 2021, we paid B. Riley Securities, Inc. $5.2 million for underwriting fees and other transaction cost related to the Senior Notes offering. The public offering of our common stock, as described in Note 17, was conducted pursuant to an underwriting agreement dated February 9, 2021, between us and B. Riley Securities, Inc., as representative of the several underwriters. Also on February 12, 2021, we paid B. Riley Securities, Inc. $9.5 million for underwriting fees and other transaction costs related to the offering. On February 12, 2021, the Company and B. Riley entered into the Exchange Agreement pursuant to which we agreed to issue to B. Riley $35.0 million aggregate principal amount of Senior Notes in exchange for a deemed prepayment of $35.0 million of our existing Tranche A term loan with B. Riley Financial in the Exchange , as described in Note 13 . On March 31, 2021, we entered into a sales agreement with B. Riley Securities, Inc., a related party, in which we may sell, from time to time, up to an aggregated principal amount of $150.0 million of 8.125% senior notes due 2026 to or through B. Riley Securities, Inc., as described in Note 13 . As of June 30, 2021, we paid B. Riley Securities, Inc. $0.3 million for underwriting fees and other transaction costs related to the offering. The public offering of our 7.75% Series A Cumulative Perpetual Preferred Stock, as described in Note 16, was conducted pursuant to an underwriting agreement dated May 4, 2021, between us and B. Riley Securities, Inc., as representative of several underwriters. At the closing date on May 7, 2021, we paid B. Riley Securities, Inc. $4.3 million for underwriting fees and other transaction cost related to the Preferred Stock offering. On May 26, 2021, we completed the additional sale of 444,700 shares of our Preferred Stock, related to the grant to the underwriters, as described i n Note 16, and paid B. Riley Securities, Inc. $0.4 million for underwriting fees in conjunction with the transaction. On June 1, 2021, we issued 2,916,880 shares of the Company’s 7.75% Series A Cumulative Perpetual Preferred Stock and paid $0.4 million in cash due to B. Riley, a related party, in exchange for a deemed prepayment of $73.3 million of our then existing Last Out Term Loans and paid $0.9 million in cash for accrued interest, as described in Note 16. On June 30, 2021, we entered into new Debt Facilities, as described in Note 15 . In connection with the Company’s entry into the Debt Facilities, B. Riley Financial, Inc., an affiliate of B. Riley, has provided a guaranty of payment with regard to the Company’s obligations under the Reimbursement Agreement, as describe in Note 15 . Under a fee letter with B. Riley, the Company shall pay B. Riley $0.9 million per annum in connection with the B. Riley Guaranty. Transactions with B. Riley - Subsequent Events On July 7, 2021, we entered into a sales agreement with B. Riley Securities, Inc., a related party, in which we may sell, from time to time, up to an aggregated principal amount of $76 million of Preferred Stock to or through B. Riley Securities, Inc., as described in Note 16 . Transactions with Vintage Capital Management, LLC On March 26, 2021, Vintage and B. Riley completed a transaction pursuant to which B. Riley agreed to purchase from Vintage, and Vintage agreed to sell to B. Riley, all 10,720,785 shares of our common stock owned by Vintage. Based on its Schedule 13D filings, Vintage beneficially owns 0% of our outstanding common stock as of June 30, 2021.

ASSETS HELD FOR SALE, DIVESTITU

ASSETS HELD FOR SALE, DIVESTITURES AND DISCONTINUED OPERATIONS	6 Months Ended
	Jun. 30, 2021
Discontinued Operations and Disposal Groups [Abstract]
ASSETS HELD FOR SALE, DIVESTITURES AND DISCONTINUED OPERATIONS	ASSETS HELD FOR SALE, DIVESTITURES AND DISCONTINUED OPERATIONS Assets Held for Sale Certain real property assets for the Copley, Ohio location were sold on March 15, 2021 for $4.0 million. We received $3.3 million of net proceeds after adjustments and recognized a gain on sale of $1.9 million. In conjunction with the sale, we executed a leaseback agreement commencing March 16, 2021 and expiring on March 31, 2033. 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. At December 31, 2020, the carrying value of the net assets planned to be sold approximated the estimated fair value less costs to sell. Refer to Divestiture s below as this sale closed March 5, 2021. In December 2020, we determined that certain real property assets within the B&W Thermal segment met the criteria to be classified as held for sale. At June 30, 2021, the carrying value of the assets held for sale of $1.8 million was lower than the estimated fair value less costs to sell. The following table summarizes the carrying value of the assets and liabilities held for sale at June 30, 2021 and December 31, 2020: (in thousands) June 30, 2021 December 31, 2020 Accounts receivable – trade, net $ — $ 2,103 Accounts receivable – other — 86 Contracts in progress — 458 Inventories — 1,676 Other current assets — 405 Current assets held for sale — 4,728 Net property, plant and equipment 1,766 10,365 Intangible assets — 759 Right-of-use-asset — 32 Non-current assets held for sale 1,766 11,156 Total assets held for sale $ 1,766 $ 15,884 Accounts payable $ — $ 5,211 Accrued employee benefits — 178 Advance billings on contracts — 370 Accrued warranty expense — 466 Operating lease liabilities — 32 Other accrued liabilities — 2,048 Current liabilities held for sale — 8,305 Total liabilities held for sale $ — $ 8,305 Divestitures Effective March 5, 2021, we sold all of the issued and outstanding capital stock of Diamond Power Machine (Hubei) Co., Inc, for $2.8 million. We received $2.0 million in gross proceeds before expenses and recorded an $0.8 million favorable contract asset for the amortization period from March 8, 2021 through December 31, 2023. We recognized a $0.4 million pre-tax gain, inclusive of the recognition of $4.5 million of currency translation adjustment, on the sale of the business in the three months ended March 31, 2021. For the three months ended June 30, 2021, we recorded an adjustment of $2.6 million related to certain working capital amounts that are in dispute. Additional adjustments may be necessary as this is finalized. For the six months ended June 30, 2021, the net pre-tax loss on the sale was $2.2 million. On March 17, 2020, we fully settled the remaining escrow associated with the sale of PBRRC and received $4.5 million in cash. 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	6 Months Ended
	Jun. 30, 2021
Accounting Policies [Abstract]
NEW ACCOUNTING STANDARDS	NEW ACCOUNTING STANDARDS We adopted the following accounting standard during the first six months of 2021: 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. 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 May 2021, the FASB issued ASU 2021-04, Earnings Per Share (Topic 260), Debt-Modifications and Extinguishments (Subtopic 470-50), Compensation-Stock Compensation (Topic 718), and Derivatives and Hedging-Contracts in Equity's Own Equity (Subtopic 815-40): Issuer's Accounting for Certain Modifications or Exchanges of Freestanding Equity-Classified Written Call Options (a consensus of the FASB Emerging Issues Task Force). The amendments in this update affect all entities that issue freestanding written call options that are classified in equity. Specifically, the amendments affect those entities when a freestanding equity-classified written call option is modified or exchanged and remains equity classified after the modification or exchange. The amendments that relate to the recognition and measurement of EPS for certain modifications or exchanges of freestanding equity-classified written call options affect entities that present EPS in accordance with the guidance in Earnings Per Share (Topic 260) . The amendments in this update do not apply to modifications or exchanges of financial instruments that are within the scope of another Topic. That is, accounting for those instruments continues to be subject to the requirements in other Topics. The amendments in this update do not affect a holder’s accounting for freestanding call options. The update is applicable to B&W as we have previously issued freestanding written call options however those options remain unexercised as of June 30, 2021 and they have not been modified or exchanged to date. The amendments are effective for fiscal years beginning after December 15, 2021, including interim periods within those fiscal years. We are currently evaluating the impact of the standards on our condensed consolidated financial statements. In March 2021, the FASB issued ASU 2021-01, Reference Rate Reform (Topic 848): Scope. The amendments in this update clarify that certain optional expedients and exceptions in Topic 848 for contract modifications and hedge accounting apply to derivatives that are affected by the discounting transition. This update is an amendment to ASU 2020-04, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform of Financial Reporting, which was issued in March 2020 and provides 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 the updates 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 updates 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 both updates 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 standards on our condensed consolidated financial statements. 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 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)	6 Months Ended
	Jun. 30, 2021
Accounting Policies [Abstract]
New accounting standards	We adopted the following accounting standard during the first six months of 2021: 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. 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 May 2021, the FASB issued ASU 2021-04, Earnings Per Share (Topic 260), Debt-Modifications and Extinguishments (Subtopic 470-50), Compensation-Stock Compensation (Topic 718), and Derivatives and Hedging-Contracts in Equity's Own Equity (Subtopic 815-40): Issuer's Accounting for Certain Modifications or Exchanges of Freestanding Equity-Classified Written Call Options (a consensus of the FASB Emerging Issues Task Force). The amendments in this update affect all entities that issue freestanding written call options that are classified in equity. Specifically, the amendments affect those entities when a freestanding equity-classified written call option is modified or exchanged and remains equity classified after the modification or exchange. The amendments that relate to the recognition and measurement of EPS for certain modifications or exchanges of freestanding equity-classified written call options affect entities that present EPS in accordance with the guidance in Earnings Per Share (Topic 260) . The amendments in this update do not apply to modifications or exchanges of financial instruments that are within the scope of another Topic. That is, accounting for those instruments continues to be subject to the requirements in other Topics. The amendments in this update do not affect a holder’s accounting for freestanding call options. The update is applicable to B&W as we have previously issued freestanding written call options however those options remain unexercised as of June 30, 2021 and they have not been modified or exchanged to date. The amendments are effective for fiscal years beginning after December 15, 2021, including interim periods within those fiscal years. We are currently evaluating the impact of the standards on our condensed consolidated financial statements. In March 2021, the FASB issued ASU 2021-01, Reference Rate Reform (Topic 848): Scope. The amendments in this update clarify that certain optional expedients and exceptions in Topic 848 for contract modifications and hedge accounting apply to derivatives that are affected by the discounting transition. This update is an amendment to ASU 2020-04, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform of Financial Reporting, which was issued in March 2020 and provides 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 the updates 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 updates 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 both updates 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 standards on our condensed consolidated financial statements. 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 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)	6 Months Ended
	Jun. 30, 2021
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 and dividends on preferred stock: Three months ended June 30, Six months ended June 30, (in thousands, except per share amounts) 2021 2020 2021 2020 Income (loss) from continuing operations attributable to stockholders of common stock $ 1,395 $ (17,991) $ (14,069) $ (51,430) Income (loss) from discontinued operations attributable to stockholders of common stock, net of tax — (113) — 1,800 Net income (loss) attributable to stockholders of common stock $ 1,395 $ (18,104) $ (14,069) $ (49,630) Weighted average shares used to calculate basic earnings (loss) per share 85,724 46,853 78,589 46,628 Dilutive effect of stock options, restricted stock and performance units 1,279 — — — Weighted average shares used to calculate diluted earnings (loss) per share 87,003 46,853 78,589 46,628 Basic earnings (loss) per share Continuing operations $ 0.02 $ (0.39) $ (0.18) $ (1.10) Discontinued operations — — — 0.04 Basic earnings (loss) per share $ 0.02 $ (0.39) $ (0.18) $ (1.06) Diluted earnings (loss) per share Continuing operations $ 0.02 $ (0.39) $ (0.18) $ (1.10) Discontinued operations — — — 0.04 Diluted earnings (loss) per share $ 0.02 $ (0.39) $ (0.18) $ (1.06)

SEGMENT REPORTING (Tables)

SEGMENT REPORTING (Tables)	6 Months Ended
	Jun. 30, 2021
Segment Reporting [Abstract]
Schedule of Segment Reporting Information, by Segment	An analysis of our operations by segment is as follows: Three months ended June 30, Six months ended June 30, (in thousands) 2021 2020 2021 2020 Revenues: B&W Renewable segment B&W Renewable $ 24,701 $ 27,066 $ 42,698 $ 49,404 Vølund 13,643 16,443 24,457 30,104 38,344 43,509 67,155 79,508 B&W Environmental segment B&W Environmental 10,995 10,513 28,428 23,448 SPIG 13,194 10,850 24,378 22,187 GMAB 4,169 3,809 6,712 5,457 28,358 25,172 59,518 51,092 B&W Thermal segment B&W Thermal 136,316 67,212 244,597 153,895 136,316 67,212 244,597 153,895 Other (158) (496) (162) (544) Total Revenues $ 202,860 $ 135,397 $ 371,108 $ 283,951 Adjusted EBITDA for each segment is presented below with a reconciliation to net income (loss) attributable to stockholders of common stock. Three months ended June 30, Six months ended June 30, (in thousands) 2021 2020 2021 2020 Adjusted EBITDA (1) B&W Renewable segment $ 3,427 $ (138) $ 3,631 $ (1,572) B&W Environmental segment 2,698 (1,146) 3,799 (769) B&W Thermal segment 12,431 8,018 22,861 15,592 Corporate (2,997) (3,805) (5,682) (7,948) Research and development costs (485) (1,231) (1,073) (2,572) 15,074 1,698 23,536 2,731 Restructuring activities (2,400) (2,392) (3,393) (4,343) Financial advisory services (1,299) (582) (2,232) (1,511) Advisory fees for settlement costs and liquidity planning (2,059) (1,155) (4,037) (3,769) Litigation legal costs (1,167) (252) (1,547) (948) Stock compensation (51) (1,187) (7,880) (1,899) Interest on letters of credit included in cost of operations (320) (172) (606) (399) Income (loss) from business held for sale — 470 (483) (318) Depreciation & amortization (4,321) (4,032) (8,379) (8,240) Contract asset amortization (73) — (73) — ClimateBright TM product development (263) — (263) — Gain (loss) from a non-strategic business (299) (97) (287) (218) Gain (loss) on asset disposals, net (38) (2) 1,966 913 Operating income (loss) 2,784 (7,703) (3,678) (18,001) Interest expense, net (7,875) (15,259) (21,989) (37,310) Gain (loss) on debt extinguishment 6,530 (6,194) 6,530 (6,194) (Loss) gain on sale of business (2,598) (108) (2,240) (108) Net pension benefit 5,924 7,450 15,022 14,986 Foreign exchange 1,826 7,112 617 (2,214) Other – net 96 (2,586) (182) (2,792) Total other income (expense) 3,903 (9,585) (2,242) (33,632) Income (loss) before income tax expense 6,687 (17,288) (5,920) (51,633) Income tax expense 3,546 845 6,382 35 Income (loss) from continuing operations 3,141 (18,133) (12,302) (51,668) (Loss) income from discontinued operations, net of tax — (113) — 1,800 Net income (loss) 3,141 (18,246) (12,302) (49,868) Net (income) loss attributable to non-controlling interest (15) 142 (36) 238 Net income (loss) attributable to stockholders 3,126 (18,104) (12,338) (49,630) Less: Dividend on Series A preferred stock 1,731 — 1,731 — Net income (loss) attributable to stockholders of common stock $ 1,395 $ (18,104) $ (14,069) $ (49,630) (1) Adjusted EBITDA for the three and six months ended June 30, 2020, excludes losses related to a non-strategic business and interest on letters of credit included in cost of operations that were previously included in Adjusted EBITDA and total $0.1 million and $0.2 million, respectively, and $0.2 million and $0.4 million, respectively.

REVENUE RECOGNITION AND CONTR_2

REVENUE RECOGNITION AND CONTRACTS (Tables)	6 Months Ended
	Jun. 30, 2021
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) June 30, 2021 December 31, 2020 $ Change % Change Contract assets - included in contracts in progress: Costs incurred less costs of revenue recognized $ 25,766 $ 25,888 $ (122) — % Revenues recognized less billings to customers 38,171 33,420 4,751 14 % Contracts in progress $ 63,937 $ 59,308 $ 4,629 8 % Contract liabilities - included in advance billings on contracts: Billings to customers less revenues recognized $ 51,361 $ 61,884 $ (10,523) (17) % Costs of revenue recognized less cost incurred 1,781 2,118 (337) (16) % Advance billings on contracts $ 53,142 $ 64,002 $ (10,860) (17) % Net contract balance $ 10,795 $ (4,694) $ 15,489 (330) % Accrued contract losses $ 321 $ 582 $ (261) (45) %
Schedule of Recognized Changes in Estimated Gross Profit	In the three and six months ended June 30, 2021 and 2020, 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 June 30, Six months ended June 30, (in thousands) 2021 2020 2021 2020 Increases in gross profit for changes in estimates for over time contracts $ 2,314 $ 4,037 $ 5,339 $ 7,561 Decreases in gross profit for changes in estimates for over time contracts (3,137) (5,102) (4,495) (5,288) Net changes in gross profit for changes in estimates for over time contracts $ (823) $ (1,065) $ 844 $ 2,273

INVENTORIES (Tables)

INVENTORIES (Tables)	6 Months Ended
	Jun. 30, 2021
Inventory Disclosure [Abstract]
Schedule of Components of Inventories	The components of inventories are as follows: (in thousands) June 30, 2021 December 31, 2020 Raw materials and supplies $ 47,482 $ 46,659 Work in progress 7,364 8,195 Finished goods 16,157 12,307 Total inventories $ 71,003 $ 67,161

PROPERTY, PLANT & EQUIPMENT, _2

PROPERTY, PLANT & EQUIPMENT, & FINANCE LEASE (Tables)	6 Months Ended
	Jun. 30, 2021
Property, Plant and Equipment [Abstract]
Property, Plant and Equipment and Finance Lease	Property, plant and equipment less accumulated depreciation is as follows: (in thousands) June 30, 2021 December 31, 2020 Land $ 1,550 $ 1,584 Buildings 34,096 34,207 Machinery and equipment 151,352 151,399 Property under construction 2,749 5,336 189,747 192,526 Less accumulated depreciation 139,850 135,925 Net property, plant and equipment 49,897 56,601 Finance lease 37,142 30,551 Less finance lease accumulated amortization 3,673 2,074 Net property, plant and equipment, and finance lease $ 83,366 $ 85,078

GOODWILL (Tables)

GOODWILL (Tables)	6 Months Ended
	Jun. 30, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Goodwill	The following summarizes the changes in the net carrying amount of goodwill as of June 30, 2021: (in thousands) B&W Renewable B&W Environmental B&W Thermal Total Balance at December 31, 2020 $ 10,211 $ 5,673 $ 31,479 $ 47,363 Currency translation adjustments 7 4 39 50 Balance at June 30, 2021 $ 10,218 $ 5,677 $ 31,518 $ 47,413

INTANGIBLE ASSETS (Tables)

INTANGIBLE ASSETS (Tables)	6 Months Ended
	Jun. 30, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Intangible Assets	Our intangible assets are as follows: (in thousands) June 30, 2021 December 31, 2020 Definite-lived intangible assets Customer relationships $ 24,110 $ 24,862 Unpatented technology 15,489 15,713 Patented technology 3,124 2,642 Tradename 12,879 13,088 All other 9,414 9,262 Gross value of definite-lived intangible assets 65,016 65,567 Customer relationships amortization (20,047) (19,537) Unpatented technology amortization (7,546) (6,751) Patented technology amortization (2,662) (2,593) Tradename amortization (5,133) (4,831) All other amortization (9,281) (9,252) Accumulated amortization (44,669) (42,964) Net definite-lived intangible assets $ 20,347 $ 22,603 Indefinite-lived intangible assets Trademarks and trade names $ 1,305 $ 1,305 Total intangible assets, net $ 21,652 $ 23,908
Schedule of Finite-Lived Intangible Assets	The following summarizes the changes in the carrying amount of intangible assets: Six months ended June 30, (in thousands) 2021 2020 Balance at beginning of period $ 23,908 $ 25,300 Amortization expense (1,705) (1,716) Currency translation adjustments (551) 81 Balance at end of the period $ 21,652 $ 23,665
Schedule of Indefinite-Lived Intangible Assets	The following summarizes the changes in the carrying amount of intangible assets: Six months ended June 30, (in thousands) 2021 2020 Balance at beginning of period $ 23,908 $ 25,300 Amortization expense (1,705) (1,716) Currency translation adjustments (551) 81 Balance at end of the period $ 21,652 $ 23,665
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, 2021 $ 1,701 Year ending December 31, 2022 3,409 Year ending December 31, 2023 3,409 Year ending December 31, 2024 3,325 Year ending December 31, 2025 2,559 Year ending December 31, 2026 1,283 Thereafter 4,661

LEASES (Tables)

LEASES (Tables)	6 Months Ended
	Jun. 30, 2021
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 June 30, Six months ended June 30, (in thousands) Classification 2021 2020 2021 2020 Operating lease expense: Operating lease expense Selling, general and administrative expenses $ 1,308 $ 1,389 $ 2,647 $ 2,896 Short-term lease expense Selling, general and administrative expenses 1,486 292 2,641 480 Variable lease expense (1) Selling, general and administrative expenses 471 (382) 679 394 Total operating lease expense $ 3,265 $ 1,299 $ 5,967 $ 3,770 Finance lease expense: Amortization of right-of-use assets Selling, general and administrative expenses $ 1,069 $ 514 $ 1,598 $ 1,029 Interest on lease liabilities Interest expense 708 616 1,324 1,231 Total finance lease expense $ 1,777 $ 1,130 $ 2,922 $ 2,260 Sublease income (2) Other – net $ (21) $ (21) $ (43) $ (43) Net lease cost $ 5,021 $ 2,408 $ 8,846 $ 5,987 (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: Six months ended June 30, (in thousands) 2021 2020 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 2,674 $ 2,743 Operating cash flows from finance leases 1,324 1,231 Financing cash flows from finance leases 834 (399) (in thousands) June 30, 2021 December 31, 2020 Right-of-use assets obtained in exchange for lease liabilities: Operating leases $ 1,281 $ 2,629 Finance leases $ 6,589 $ 146 Weighted-average remaining lease term: Operating leases (in years) 2.8 3.1 Finance leases (in years) 12.5 13.9 Weighted-average discount rate: Operating leases 9.11 % 9.26 % Finance leases 7.88 % 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 June 30, 2021 December 31, 2020 Operating lease assets Right-of-use assets $ 9,399 $ 10,814 Finance lease assets Net property, plant and equipment, and finance lease 33,469 28,477 Total non-current lease assets $ 42,868 $ 39,291 Liabilities: Current Operating lease liabilities Operating lease liabilities $ 3,728 $ 3,995 Finance lease liabilities Other accrued liabilities 3,095 886 Non-current Operating lease liabilities Non-current operating lease liabilities 5,888 7,031 Finance lease liabilities Non-current finance lease liabilities 33,237 29,690 Total lease liabilities $ 45,948 $ 41,602
Finance Lease Maturity	Future minimum lease payments required under non-cancellable leases as of June 30, 2021 were as follows: (in thousands) Operating Leases Finance Leases Total 2021 (excluding the six months ended June 30, 2021) $ 2,410 $ 2,860 $ 5,270 2022 3,864 5,233 9,097 2023 2,572 3,879 6,451 2024 1,468 3,944 5,412 2025 411 3,969 4,380 Thereafter 7 38,412 38,419 Total $ 10,732 $ 58,297 $ 69,029 Less imputed interest (1,116) (21,965) (23,081) Lease liability $ 9,616 $ 36,332 $ 45,948
Operating Lease Maturity	Future minimum lease payments required under non-cancellable leases as of June 30, 2021 were as follows: (in thousands) Operating Leases Finance Leases Total 2021 (excluding the six months ended June 30, 2021) $ 2,410 $ 2,860 $ 5,270 2022 3,864 5,233 9,097 2023 2,572 3,879 6,451 2024 1,468 3,944 5,412 2025 411 3,969 4,380 Thereafter 7 38,412 38,419 Total $ 10,732 $ 58,297 $ 69,029 Less imputed interest (1,116) (21,965) (23,081) Lease liability $ 9,616 $ 36,332 $ 45,948

ACCRUED WARRANTY EXPENSE (Table

ACCRUED WARRANTY EXPENSE (Tables)	6 Months Ended
	Jun. 30, 2021
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: Six months ended June 30, (in thousands) 2021 2020 Balance at beginning of period $ 25,399 $ 33,376 Additions 3,608 2,063 Expirations and other changes (4,309) (1,584) Payments (8,576) (5,410) Translation and other 254 46 Balance at end of period $ 16,376 $ 28,491

RESTRUCTURING ACTIVITIES (Table

RESTRUCTURING ACTIVITIES (Tables)	6 Months Ended
	Jun. 30, 2021
Restructuring and Related Activities [Abstract]
Summary of Restructuring Activity	The following table summarizes the restructuring activity incurred by segment: Three months ended June 30, Three months ended June 30, 2021 2020 (in thousands) Total Severance and related costs Other (1) Total Severance and related costs Other (1) B&W Renewable segment $ 557 $ 466 $ 91 $ 951 $ 155 $ 796 B&W Environmental segment 209 172 37 237 154 83 B&W Thermal segment 1,542 1,035 507 948 303 645 Corporate 92 8 84 256 — 256 $ 2,400 $ 1,681 $ 719 $ 2,392 $ 612 $ 1,780 Six months ended June 30, Six months ended June 30, 2021 2020 (in thousands) Total Severance and related costs Other (1) Total Severance and related costs Other (1) B&W Renewable segment $ 1,066 $ 919 $ 147 $ 1,752 $ 813 $ 939 B&W Environmental segment 298 207 91 377 211 166 B&W Thermal segment 1,890 1,047 843 1,889 689 1,200 Corporate 139 8 131 325 — 325 $ 3,393 $ 2,181 $ 1,212 $ 4,343 $ 1,713 $ 2,630 Cumulative costs to date $ 43,707 35,394 8,313
Activity Related to the Restructuring Liabilities	Activity related to the restructuring liabilities is as follows: Three months ended June 30, Six months ended June 30, (in thousands) 2021 2020 2021 2020 Balance at beginning of period $ 8,022 $ 5,341 $ 8,146 $ 5,358 Restructuring expense 2,400 2,392 3,393 4,343 Payments (2,477) (2,646) (3,594) (4,614) Balance at end of period $ 7,945 $ 5,087 $ 7,945 $ 5,087

PENSION PLANS AND OTHER POSTR_2

PENSION PLANS AND OTHER POSTRETIREMENT BENEFITS (Tables)	6 Months Ended
	Jun. 30, 2021
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 June 30, Six months ended June 30, Three months ended June 30, Six months ended June 30, (in thousands) 2021 2020 2021 2020 2021 2020 2021 2020 Interest cost $ 5,609 $ 8,250 $ 11,280 $ 16,511 $ 39 $ 72 $ 78 $ 144 Expected return on plan assets (11,773) (15,544) (26,782) (31,185) — — — — Amortization of prior service cost (credit) 28 43 56 86 173 (271) 346 (542) Benefit plans, net (1) (6,136) (7,251) (15,446) (14,588) 212 (199) 424 (398) Service cost included in COS (2) 218 209 435 420 6 4 12 9 Net periodic benefit cost (benefit) $ (5,918) $ (7,042) $ (15,011) $ (14,168) $ 218 $ (195) $ 436 $ (389) (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.

2021 SENIOR NOTES OFFERING (Tab

2021 SENIOR NOTES OFFERING (Tables)	6 Months Ended
	Jun. 30, 2021
Debt Disclosure [Abstract]
Components of The Senior Notes	The components of the Senior Notes are as follows: (in thousands) June 30, 2021 8.125% Senior Notes due 2026 $ 172,882 Unamortized deferred financing costs (4,913) Unamortized premium 388 Net debt balance $ 168,357 December 31, 2020 (in thousands) A-3 A-4 A-6 Total Proceeds (1) $ 101,660 $ 30,000 $ 40,000 $ 171,660 Discount and fees 8,650 — — 8,650 Paid-in-kind interest 3,020 — — 3,020 Net debt balance $ 113,330 $ 30,000 $ 40,000 $ 183,330 (1) Tranche A-3 proceeds represent the net proceeds after the $39.7 million principal prepayment from the July 2019 Equitization Transactions.

LAST OUT TERM LOANS (Tables)

LAST OUT TERM LOANS (Tables)	6 Months Ended
	Jun. 30, 2021
Debt Disclosure [Abstract]
Schedule of Debt	The components of the Senior Notes are as follows: (in thousands) June 30, 2021 8.125% Senior Notes due 2026 $ 172,882 Unamortized deferred financing costs (4,913) Unamortized premium 388 Net debt balance $ 168,357 December 31, 2020 (in thousands) A-3 A-4 A-6 Total Proceeds (1) $ 101,660 $ 30,000 $ 40,000 $ 171,660 Discount and fees 8,650 — — 8,650 Paid-in-kind interest 3,020 — — 3,020 Net debt balance $ 113,330 $ 30,000 $ 40,000 $ 183,330 (1) Tranche A-3 proceeds represent the net proceeds after the $39.7 million principal prepayment from the July 2019 Equitization Transactions.

INTEREST EXPENSE AND SUPPLEME_2

INTEREST EXPENSE AND SUPPLEMENTAL CASH FLOW INFORMATION (Tables)	6 Months Ended
	Jun. 30, 2021
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 June 30, Six months ended June 30, (in thousands) 2021 2020 2021 2020 Components associated with borrowings from: Senior Notes $ 3,459 $ — $ 5,192 $ — Last Out Term Loans 837 4,828 4,349 8,875 U.S. Revolving Credit Facility — 3,409 1,416 7,448 4,296 8,237 10,957 16,323 Components associated with amortization or accretion of: Senior Notes 298 — 1,766 — Last Out Term Loans - discount and financing fees — 1,579 — 3,729 U.S. Revolving Credit Facility - deferred financing fees and commitment fees 1,595 3,629 5,995 12,664 U.S. Revolving Credit Facility - deferred ticking fee for Amendment 16 — 2 — 1,660 1,893 5,210 7,761 18,053 Other interest expense 1,832 2,035 3,526 3,197 Total interest expense $ 8,021 $ 15,482 $ 22,244 $ 37,573
Schedule of Cash and Cash Equivalents Reconciliation	The following table provides a reconciliation of cash and cash equivalents and restricted cash reporting that sum to the total cash amount in the Condensed Consolidated Balance Sheets and Condensed Consolidated Statements of Cash Flows: (in thousands) June 30, 2021 December 31, 2020 June 30, 2020 Held by foreign entities $ 27,822 $ 38,726 $ 34,676 Held by U.S. entities 2,238 18,612 2,139 Cash and cash equivalents 30,060 57,338 36,815 Reinsurance reserve requirements 590 4,551 5,596 Restricted foreign accounts — 2,869 2,661 Bank guarantee collateral 2,240 2,665 3,044 Letters of credit collateral 110,708 — — Restricted cash and cash equivalents 113,538 10,085 11,301 Total cash, cash equivalents and restricted cash shown in the Condensed Consolidated Balance Sheets and Condensed Consolidated Statements of Cash Flows $ 143,598 $ 67,423 $ 48,116
Schedule of Restricted Cash and Cash Equivalents	The following table provides a reconciliation of cash and cash equivalents and restricted cash reporting that sum to the total cash amount in the Condensed Consolidated Balance Sheets and Condensed Consolidated Statements of Cash Flows: (in thousands) June 30, 2021 December 31, 2020 June 30, 2020 Held by foreign entities $ 27,822 $ 38,726 $ 34,676 Held by U.S. entities 2,238 18,612 2,139 Cash and cash equivalents 30,060 57,338 36,815 Reinsurance reserve requirements 590 4,551 5,596 Restricted foreign accounts — 2,869 2,661 Bank guarantee collateral 2,240 2,665 3,044 Letters of credit collateral 110,708 — — Restricted cash and cash equivalents 113,538 10,085 11,301 Total cash, cash equivalents and restricted cash shown in the Condensed Consolidated Balance Sheets and Condensed Consolidated Statements of Cash Flows $ 143,598 $ 67,423 $ 48,116
Schedule of Supplemental Cash Flow Disclosures	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 : Six months ended June 30, (in thousands) 2021 2020 Income tax payments, net $ 3,331 $ 1,438 Interest payments on our 8.125% Senior Notes due 2026 $ 2,911 $ — Interest payments on our U.S. Revolving Credit Facility 5,979 8,110 Interest payments on our Last Out Term Loans 6,140 6,140 Total cash paid for interest $ 15,030 $ 14,250

COMPREHENSIVE INCOME (Tables)

COMPREHENSIVE INCOME (Tables)	6 Months Ended
	Jun. 30, 2021
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 2021 and 2020 were as follows: (in thousands) Currency translation Net unrecognized loss related to benefit plans Total Balance at December 31, 2020 $ (47,575) $ (4,815) $ (52,390) Other comprehensive loss before reclassifications (70) — (70) Reclassified from AOCI to net income (loss) (4,512) 198 (4,314) Net other comprehensive (loss) income (4,582) 198 (4,384) Balance at March 31, 2021 $ (52,157) $ (4,617) $ (56,774) Other comprehensive loss before reclassifications (1,478) — (1,478) Reclassified from AOCI to net income — 198 198 Net other comprehensive (loss) income (1,478) 198 (1,280) Balance at June 30, 2021 $ (53,635) $ (4,419) $ (58,054) (in thousands) Currency translation Net unrecognized loss related to benefit plans Total Balance at December 31, 2019 $ 5,743 $ (3,817) $ 1,926 Other comprehensive income before reclassifications 2,380 — 2,380 Reclassified from AOCI to net 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 loss before reclassifications (4,095) — (4,095) Reclassified from AOCI to net loss — (246) (246) Net other comprehensive loss (4,095) (246) (4,341) Balance at June 30, 2020 $ 4,028 $ (4,309) $ (281)
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 June 30, Six months ended June 30, 2021 2020 2021 2020 Release of currency translation adjustment with the sale of business Loss on sale of business $ — $ — $ 4,512 $ — Amortization of prior service cost on benefit obligations Benefit plans, net (198) 246 (396) 492 Net (loss) income $ (198) $ 246 $ 4,116 $ 492

FAIR VALUE MEASUREMENTS (Tables

FAIR VALUE MEASUREMENTS (Tables)	6 Months Ended
	Jun. 30, 2021
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 June 30, 2021 Level 1 Level 2 Corporate notes and bonds $ 7,919 $ 7,919 $ — Mutual funds 678 — 678 United States Government and agency securities 5,144 5,144 — Total fair value of available-for-sale securities $ 13,741 $ 13,063 $ 678 (in thousands) Available-for-sale securities December 31, 2020 Level 1 Level 2 Corporate notes and bonds $ 6,139 $ 6,139 $ — Mutual funds 636 — 636 Corporate Stocks 4,168 4,168 — United States Government and agency securities 4,365 4,365 — Total fair value of available-for-sale securities $ 15,308 $ 14,672 $ 636

ASSETS HELD FOR SALE, DIVESTI_2

ASSETS HELD FOR SALE, DIVESTITURES AND DISCONTINUED OPERATIONS (Tables)	6 Months Ended
	Jun. 30, 2021
Discontinued Operations and Disposal Groups [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 June 30, 2021 and December 31, 2020: (in thousands) June 30, 2021 December 31, 2020 Accounts receivable – trade, net $ — $ 2,103 Accounts receivable – other — 86 Contracts in progress — 458 Inventories — 1,676 Other current assets — 405 Current assets held for sale — 4,728 Net property, plant and equipment 1,766 10,365 Intangible assets — 759 Right-of-use-asset — 32 Non-current assets held for sale 1,766 11,156 Total assets held for sale $ 1,766 $ 15,884 Accounts payable $ — $ 5,211 Accrued employee benefits — 178 Advance billings on contracts — 370 Accrued warranty expense — 466 Operating lease liabilities — 32 Other accrued liabilities — 2,048 Current liabilities held for sale — 8,305 Total liabilities held for sale $ — $ 8,305

BASIS OF PRESENTATION (Details)

BASIS OF PRESENTATION (Details) - USD ($) $ in Millions	1 Months Ended	3 Months Ended
	Jan. 31, 2021	Jun. 30, 2021
Accounting Policies [Abstract]
Deferred contribution payments		$ 20.9
Company contributions	$ 23.1

EARNINGS PER SHARE - Computatio

EARNINGS PER SHARE - Computation of Basic and Diluted Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Net income (loss) attributable to stockholders of common stock	$ 1,395	$ (18,104)	$ (14,069)	$ (49,630)
Net income (loss) attributable to stockholders of common stock, diluted	$ 1,395	$ (18,104)	$ (14,069)	$ (49,630)
Weighted average shares used to calculate basic earnings (loss) per share (in shares)	85,724	46,853	78,589	46,628
Dilutive effect of stock options, restricted stock and performance units (in shares)	1,279	0	0	0
Weighted average shares used to calculate diluted earnings (loss) per share (in shares)	87,003	46,853	78,589	46,628
Basic earnings (loss) per share
Continuing operations (in dollars per share)	$ 0.02	$ (0.39)	$ (0.18)	$ (1.10)
Discontinued operations (in dollars per share)	0	0	0	0.04
Basic earnings (loss) per share (in dollars per share)	0.02	(0.39)	(0.18)	(1.06)
Diluted earnings (loss) per share
Continuing operations (in dollars per share)	0.02	(0.39)	(0.18)	(1.10)
Discontinued operations (in dollars per share)	0	0	0	0.04
Diluted earnings (loss) per share (in dollars per share)	$ 0.02	$ (0.39)	$ (0.18)	$ (1.06)
Continuing Operations
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Net income (loss) attributable to stockholders of common stock	$ 1,395	$ (17,991)	$ (14,069)	$ (51,430)
Discontinued Operations
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Net income (loss) attributable to stockholders of common stock	$ 0	$ (113)	$ 0	$ 1,800

EARNINGS PER SHARE - Additional

EARNINGS PER SHARE - Additional Information (Details) - shares	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Earnings Per Share [Abstract]
Excluded shares from the WAS to calculated diluted EPS as company was in a net loss position (in shares)		33,300	1,400,000	216,100
Stock options from diluted share (in shares)	300,000	1,500,000	400,000	1,700,000

SEGMENT REPORTING - Narrative (

SEGMENT REPORTING - Narrative (Details)	6 Months Ended
	Jun. 30, 2021segment
Segment Reporting [Abstract]
Number of reportable segments	3

SEGMENT REPORTING - Schedule of

SEGMENT REPORTING - Schedule of Operating Results by Segment (Details) - USD ($)	3 Months Ended				6 Months Ended
	Jun. 30, 2021	Mar. 31, 2021	Jun. 30, 2020	Mar. 31, 2020	Jun. 30, 2021	Jun. 30, 2020
Segment Reporting Information [Line Items]
Revenues	$ 202,860,000		$ 135,397,000		$ 371,108,000	$ 283,951,000
Adjusted EBITDA	15,074,000		1,698,000		23,536,000	2,731,000
Research and development costs	(609,000)		(1,231,000)		(1,197,000)	(2,572,000)
Restructuring activities	(2,400,000)		(2,392,000)		(3,393,000)	(4,343,000)
Financial advisory services	(1,299,000)		(582,000)		(2,232,000)	(1,511,000)
Advisory fees for settlement costs and liquidity planning	(2,059,000)		(1,155,000)		(4,037,000)	(3,769,000)
Litigation legal costs	(1,167,000)		(252,000)		(1,547,000)	(948,000)
Stock compensation	(51,000)		(1,187,000)		(7,880,000)	(1,899,000)
Interest on letters of credit included in cost of operations	(320,000)		(172,000)		(606,000)	(399,000)
Income (loss) from business held for sale	0		470,000		(483,000)	(318,000)
Depreciation & amortization	(4,321,000)		(4,032,000)		(8,379,000)	(8,240,000)
Contract asset amortization	(73,000)		0		(73,000)	0
ClimateBrightTM product development	(263,000)		0		(263,000)	0
Gain (loss) from a non-strategic business	(299,000)		(97,000)		(287,000)	(218,000)
Gain (loss) on asset disposals, net	(38,000)		(2,000)		1,966,000	913,000
Operating income (loss)	2,784,000		(7,703,000)		(3,678,000)	(18,001,000)
Interest expense, net	(7,875,000)		(15,259,000)		(21,989,000)	(37,310,000)
Gain (loss) on debt extinguishment	6,530,000		(6,194,000)		6,530,000	(6,194,000)
(Loss) gain on sale of business	(2,598,000)		(108,000)		(2,240,000)	(108,000)
Net pension benefit	5,924,000		7,450,000		15,022,000	14,986,000
Foreign exchange	1,826,000		7,112,000		617,000	(2,214,000)
Other – net	96,000		(2,586,000)		(182,000)	(2,792,000)
Total other income (expense)	3,903,000		(9,585,000)		(2,242,000)	(33,632,000)
Income (loss) before income tax expense	6,687,000		(17,288,000)		(5,920,000)	(51,633,000)
Income tax expense	3,546,000		845,000		6,382,000	35,000
Income (loss) from continuing operations	3,141,000		(18,133,000)		(12,302,000)	(51,668,000)
(Loss) income from discontinued operations, net of tax	0		(113,000)		0	1,800,000
Net income (loss)	3,141,000	$ (15,443,000)	(18,246,000)	$ (31,622,000)	(12,302,000)	(49,868,000)
Net (income) loss attributable to non-controlling interest	(15,000)		142,000		(36,000)	238,000
Net income (loss) attributable to stockholders	3,126,000		(18,104,000)		(12,338,000)	(49,630,000)
Less: Dividend on Series A preferred stock	1,731,000		0		1,731,000	0
Net income (loss) attributable to stockholders of common stock	1,395,000		(18,104,000)		(14,069,000)	(49,630,000)
Losses related to a non-strategic business, previously included in adjusted EBITDA			(100,000)			(200,000)
Interest on letters of credit included in cost of operations, previously included in adjusted EBITDA			(200,000)			(400,000)
Other
Segment Reporting Information [Line Items]
Revenues	(158,000)		(496,000)		(162,000)	(544,000)
Corporate
Segment Reporting Information [Line Items]
Adjusted EBITDA	(2,997,000)		(3,805,000)		(5,682,000)	(7,948,000)
Research and development costs
Segment Reporting Information [Line Items]
Research and development costs	(485,000)		(1,231,000)		(1,073,000)	(2,572,000)
B&W Renewable segment | Operating Segments
Segment Reporting Information [Line Items]
Revenues	38,344,000		43,509,000		67,155,000	79,508,000
Adjusted EBITDA	3,427,000		(138,000)		3,631,000	(1,572,000)
B&W Renewable segment | Operating Segments | B&W Renewable
Segment Reporting Information [Line Items]
Revenues	24,701,000		27,066,000		42,698,000	49,404,000
B&W Renewable segment | Operating Segments | Vølund
Segment Reporting Information [Line Items]
Revenues	13,643,000		16,443,000		24,457,000	30,104,000
B&W Environmental segment | Operating Segments
Segment Reporting Information [Line Items]
Revenues	28,358,000		25,172,000		59,518,000	51,092,000
Adjusted EBITDA	2,698,000		(1,146,000)		3,799,000	(769,000)
B&W Environmental segment | Operating Segments | B&W Environmental
Segment Reporting Information [Line Items]
Revenues	10,995,000		10,513,000		28,428,000	23,448,000
B&W Environmental segment | Operating Segments | SPIG
Segment Reporting Information [Line Items]
Revenues	13,194,000		10,850,000		24,378,000	22,187,000
B&W Environmental segment | Operating Segments | GMAB
Segment Reporting Information [Line Items]
Revenues	4,169,000		3,809,000		6,712,000	5,457,000
B&W Thermal segment | Operating Segments
Segment Reporting Information [Line Items]
Revenues	136,316,000		67,212,000		244,597,000	153,895,000
Adjusted EBITDA	12,431,000		8,018,000		22,861,000	15,592,000
B&W Thermal segment | Operating Segments | B&W Thermal
Segment Reporting Information [Line Items]
Revenues	$ 136,316,000		$ 67,212,000		$ 244,597,000	$ 153,895,000

REVENUE RECOGNITION AND CONTR_3

REVENUE RECOGNITION AND CONTRACTS - Revenue Recognition (Details)	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Transferred at Point in Time
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Percent of revenue	18.00%	31.00%	22.00%	31.00%
Transferred over Time
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Percent of revenue	82.00%	69.00%	78.00%	69.00%

REVENUE RECOGNITION AND CONTR_4

REVENUE RECOGNITION AND CONTRACTS - Contract Balances (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2021	Dec. 31, 2020
Contract assets - included in contracts in progress:
Contract assets - included in contracts in progress	$ 63,937	$ 59,308
Contract assets - included in contracts in progress, $ change	$ 4,629
Contract assets - included in contracts in progress, % change	8.00%
Contract liabilities - included in advance billings on contracts:
Contract liabilities - included in advance billings on contracts	$ 53,142	64,002
Contract liabilities - included in advance billings on contracts, $ change	$ (10,860)
Contract liabilities - included in advance billings on contracts, % change	(17.00%)
Net contract balance	$ 10,795	(4,694)
Net contract balance, $ change	$ 15,489
Net contract balance, % change	(330.00%)
Accrued contract losses	$ 321	582
Accrued contract losses, $ change	$ (261)
Accrued contract losses, % change	(45.00%)
Billings to customers less revenues recognized
Contract liabilities - included in advance billings on contracts:
Contract liabilities - included in advance billings on contracts	$ 51,361	61,884
Contract liabilities - included in advance billings on contracts, $ change	$ (10,523)
Contract liabilities - included in advance billings on contracts, % change	(17.00%)
Costs of revenue recognized less cost incurred
Contract liabilities - included in advance billings on contracts:
Contract liabilities - included in advance billings on contracts	$ 1,781	2,118
Contract liabilities - included in advance billings on contracts, $ change	$ (337)
Contract liabilities - included in advance billings on contracts, % change	(16.00%)
Costs incurred less costs of revenue recognized
Contract assets - included in contracts in progress:
Contract assets - included in contracts in progress	$ 25,766	25,888
Contract assets - included in contracts in progress, $ change	$ (122)
Contract assets - included in contracts in progress, % change	0.00%
Revenues recognized less billings to customers
Contract assets - included in contracts in progress:
Contract assets - included in contracts in progress	$ 38,171	$ 33,420
Contract assets - included in contracts in progress, $ change	$ 4,751
Contract assets - included in contracts in progress, % change	14.00%

REVENUE RECOGNITION AND CONTR_5

REVENUE RECOGNITION AND CONTRACTS - Backlog (Details) $ in Millions	Jun. 30, 2021USD ($)
Revenue from Contract with Customer [Abstract]
Remaining performance obligation	$ 500
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-07-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligations (as a percent)	45.20%
Expected timing of satisfaction, period	6 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)	21.20%
Expected timing of satisfaction, period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligations (as a percent)	33.60%
Expected timing of satisfaction, period

REVENUE RECOGNITION AND CONTR_6

REVENUE RECOGNITION AND CONTRACTS - Changes in Contract Estimates (Details) - Transferred over Time - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Disaggregation of Revenue [Line Items]
Increases in gross profit for changes in estimates for over time contracts	$ 2,314	$ 4,037	$ 5,339	$ 7,561
Decreases in gross profit for changes in estimates for over time contracts	(3,137)	(5,102)	(4,495)	(5,288)
Net changes in gross profit for changes in estimates for over time contracts	$ (823)	$ (1,065)	$ 844	$ 2,273

REVENUE RECOGNITION AND CONTR_7

REVENUE RECOGNITION AND CONTRACTS - B&W Renewable EPC Loss Contracts (Details)	1 Months Ended	3 Months Ended		6 Months Ended
	Oct. 31, 2020USD ($)contract	Jun. 30, 2021USD ($)contract	Jun. 30, 2020USD ($)	Jun. 30, 2021USD ($)contract	Jun. 30, 2020USD ($)	Oct. 23, 2020contract	Dec. 31, 2017contract
Disaggregation of Revenue [Line Items]
Number of EPC contracts 100% completed | contract		4		4
Number of EPC contracts nearly 100% completed | contract		2		2
B&W Renewable segment
Disaggregation of Revenue [Line Items]
Number of contracts in a loss position | contract						6	6
Percentage of completion on European renewable energy project				100.00%
Renewable loss contracts, net gain (loss) recognized on changes in estimated revenues and costs | $		$ 0	$ (400,000)	$ 100,000	$ (300,000)
Number of loss contracts settled | contract	5
Other renewable energy projects | B&W Renewable segment
Disaggregation of Revenue [Line Items]
Percentage of completion on European renewable energy project				99.00%
Change in construction cost estimates | $		$ 700,000	$ 0	$ 700,000	$ 0
Fifth European Renewable project | B&W Renewable segment
Disaggregation of Revenue [Line Items]
Structural steel beam costs | $				$ 36,000,000
Five of Six European Renewable Project | B&W Renewable segment
Disaggregation of Revenue [Line Items]
Proceeds from insurance settlement | $	$ 26,000,000

REVENUE RECOGNITION AND CONTR_8

REVENUE RECOGNITION AND CONTRACTS - B&W Environmental Loss Contracts (Details) - B&W Environmental segment	3 Months Ended		6 Months Ended
	Jun. 30, 2021USD ($)contract	Jun. 30, 2020USD ($)	Jun. 30, 2021USD ($)contract	Jun. 30, 2020USD ($)
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 | $	$ 400,000	$ 0	$ 400,000	$ 0
Percent complete	100.00%		100.00%

INVENTORIES (Details)

INVENTORIES (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Inventory Disclosure [Abstract]
Raw materials and supplies	$ 47,482	$ 46,659
Work in progress	7,364	8,195
Finished goods	16,157	12,307
Total inventories	$ 71,003	$ 67,161

PROPERTY, PLANT & EQUIPMENT, _3

PROPERTY, PLANT & EQUIPMENT, & FINANCE LEASE (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Property, Plant and Equipment [Line Items]
Property, plant and equipment - gross	$ 189,747	$ 192,526
Less accumulated depreciation	139,850	135,925
Net property, plant and equipment	49,897	56,601
Finance lease	37,142	30,551
Less finance lease accumulated amortization	3,673	2,074
Net property, plant and equipment, and finance lease	83,366	85,078
Land
Property, Plant and Equipment [Line Items]
Property, plant and equipment - gross	1,550	1,584
Buildings
Property, Plant and Equipment [Line Items]
Property, plant and equipment - gross	34,096	34,207
Machinery and equipment
Property, Plant and Equipment [Line Items]
Property, plant and equipment - gross	151,352	151,399
Property under construction
Property, Plant and Equipment [Line Items]
Property, plant and equipment - gross	$ 2,749	$ 5,336

GOODWILL - Schedule of Goodwill

GOODWILL - Schedule of Goodwill (Details) - USD ($)	3 Months Ended	6 Months Ended
	Jun. 30, 2021	Jun. 30, 2021
Goodwill [Roll Forward]
Beginning balance		$ 47,363,000
Currency translation adjustments		50,000
Ending balance	$ 47,413,000	47,413,000
Goodwill and other intangible asset impairment	0
B&W Renewable
Goodwill [Roll Forward]
Beginning balance		10,211,000
Currency translation adjustments		7,000
Ending balance	10,218,000	10,218,000
B&W Environmental
Goodwill [Roll Forward]
Beginning balance		5,673,000
Currency translation adjustments		4,000
Ending balance	5,677,000	5,677,000
B&W Thermal
Goodwill [Roll Forward]
Beginning balance		31,479,000
Currency translation adjustments		39,000
Ending balance	$ 31,518,000	$ 31,518,000

INTANGIBLE ASSETS - Intangible

INTANGIBLE ASSETS - Intangible Assets (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020	Jun. 30, 2020	Dec. 31, 2019
Definite-lived intangible assets
Gross value of definite-lived intangible assets	$ 65,016	$ 65,567
Accumulated amortization	(44,669)	(42,964)
Net definite-lived intangible assets	20,347	22,603
Indefinite-lived intangible assets
Total intangible assets, net	21,652	23,908	$ 23,665	$ 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	24,110	24,862
Accumulated amortization	(20,047)	(19,537)
Unpatented technology
Definite-lived intangible assets
Gross value of definite-lived intangible assets	15,489	15,713
Accumulated amortization	(7,546)	(6,751)
Patented technology
Definite-lived intangible assets
Gross value of definite-lived intangible assets	3,124	2,642
Accumulated amortization	(2,662)	(2,593)
Tradename
Definite-lived intangible assets
Gross value of definite-lived intangible assets	12,879	13,088
Accumulated amortization	(5,133)	(4,831)
All other
Definite-lived intangible assets
Gross value of definite-lived intangible assets	9,414	9,262
Accumulated amortization	$ (9,281)	$ (9,252)

INTANGIBLE ASSETS - Summary of

INTANGIBLE ASSETS - Summary of Changes in Carrying Amount of Intangible Assets (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Intangible Assets [Roll Forward]
Balance at beginning of period	$ 23,908	$ 25,300
Amortization expense	(1,705)	(1,716)
Currency translation adjustments	(551)	81
Balance at end of the period	$ 21,652	$ 23,665

INTANGIBLE ASSETS - Estimated F

INTANGIBLE ASSETS - Estimated Future Intangible Asset Amortization (Details) $ in Thousands	Jun. 30, 2021USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
Year ending December 31, 2021	$ 1,701
Year ending December 31, 2022	3,409
Year ending December 31, 2023	3,409
Year ending December 31, 2024	3,325
Year ending December 31, 2025	2,559
Year ending December 31, 2026	1,283
Thereafter	$ 4,661

LEASES - Narrative (Details)

LEASES - Narrative (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Lessor, Lease, Description [Line Items]
Additional future minimum payments	$ 58,297
Finance lease assets	33,469	$ 28,477
Lease liability	36,332
Office Space Akron Ohio
Lessor, Lease, Description [Line Items]
Additional future minimum payments	$ 5,700
Finance lease, borrowing rate	7.19%
Finance lease assets	$ 3,600
Lease liability	$ 3,800

LEASES - Components of Lease Ex

LEASES - Components of Lease Expense (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Leases [Abstract]
Operating lease expense	$ 1,308	$ 1,389	$ 2,647	$ 2,896
Short-term lease expense	1,486	292	2,641	480
Variable lease expense	471	(382)	679	394
Total operating lease expense	3,265	1,299	5,967	3,770
Amortization of right-of-use assets	1,069	514	1,598	1,029
Interest on lease liabilities	708	616	1,324	1,231
Total finance lease expense	1,777	1,130	2,922	2,260
Sublease income	(21)	(21)	(43)	(43)
Net lease cost	$ 5,021	$ 2,408	$ 8,846	$ 5,987

LEASES - Other Information Rela

LEASES - Other Information Related to Leases (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020	Dec. 31, 2020
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases			$ 2,674	$ 2,743
Operating cash flows from finance leases	$ 708	$ 616	1,324	1,231
Financing cash flows from finance leases			834	$ (399)
Right-of-use assets obtained in exchange for lease liabilities:
Operating leases			1,281		$ 2,629
Finance leases			$ 6,589		$ 146
Weighted-average remaining lease term:
Operating leases (in years)	2 years 9 months 18 days		2 years 9 months 18 days		3 years 1 month 6 days
Finance leases (in years)	12 years 6 months		12 years 6 months		13 years 10 months 24 days
Weighted-average discount rate:
Operating leases	9.11%		9.11%		9.26%
Finance leases	7.88%		7.88%		8.00%

LEASES - Supplemental Balance S

LEASES - Supplemental Balance Sheet Information (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Assets:
Operating lease assets	$ 9,399	$ 10,814
Finance lease assets	33,469	28,477
Total non-current lease assets	42,868	39,291
Current
Operating lease liabilities	3,728	3,995
Finance lease liabilities	3,095	886
Non-current
Operating lease liabilities	5,888	7,031
Finance lease liabilities	33,237	29,690
Total lease liabilities	$ 45,948	$ 41,602

LEASES - Future Minimum Lease P

LEASES - Future Minimum Lease Payments Required (Details) $ in Thousands	Jun. 30, 2021USD ($)
Operating Leases
2021 (excluding the six months ended June 30, 2021)	$ 2,410
2022	3,864
2023	2,572
2024	1,468
2025	411
Thereafter	7
Total	10,732
Less imputed interest	(1,116)
Lease liability	9,616
Finance Leases
2021 (excluding the six months ended June 30, 2021)	2,860
2022	5,233
2023	3,879
2024	3,944
2025	3,969
Thereafter	38,412
Total	58,297
Less imputed interest	(21,965)
Lease liability	36,332
Total
2021 (excluding the six months ended June 30, 2021)	5,270
2022	9,097
2023	6,451
2024	5,412
2025	4,380
Thereafter	38,419
Total	69,029
Less imputed interest	(23,081)
Lease liability	$ 45,948

ACCRUED WARRANTY EXPENSE (Detai

ACCRUED WARRANTY EXPENSE (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Movement in Extended Product Warranty Accrual [Roll Forward]
Balance at beginning of period	$ 25,399	$ 33,376
Additions	3,608	2,063
Expirations and other changes	(4,309)	(1,584)
Payments	(8,576)	(5,410)
Translation and other	254	46
Balance at end of period	$ 16,376	$ 28,491

RESTRUCTURING ACTIVITIES - Summ

RESTRUCTURING ACTIVITIES - Summary of Restructuring Activity (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Restructuring Cost and Reserve [Line Items]
Total	$ 2,400	$ 2,392	$ 3,393	$ 4,343
Severance and related costs	1,681	612	2,181	1,713
Other	719	1,780	1,212	2,630
Cumulative costs to date		43,707		43,707
Employee Severance
Restructuring Cost and Reserve [Line Items]
Cumulative costs to date		35,394		35,394
Other
Restructuring Cost and Reserve [Line Items]
Cumulative costs to date		8,313		8,313
Operating Segments | B&W Renewable segment
Restructuring Cost and Reserve [Line Items]
Total	557	951	1,066	1,752
Severance and related costs	466	155	919	813
Other	91	796	147	939
Operating Segments | B&W Environmental segment
Restructuring Cost and Reserve [Line Items]
Total	209	237	298	377
Severance and related costs	172	154	207	211
Other	37	83	91	166
Operating Segments | B&W Thermal segment
Restructuring Cost and Reserve [Line Items]
Total	1,542	948	1,890	1,889
Severance and related costs	1,035	303	1,047	689
Other	507	645	843	1,200
Corporate
Restructuring Cost and Reserve [Line Items]
Total	92	256	139	325
Severance and related costs	8	0	8	0
Other	$ 84	$ 256	$ 131	$ 325

RESTRUCTURING ACTIVITIES - Rest

RESTRUCTURING ACTIVITIES - Restructuring Liabilities (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Restructuring Reserve [Roll Forward]
Balance at beginning of period	$ 8,022	$ 5,341	$ 8,146	$ 5,358
Restructuring expense	2,400	2,392	3,393	4,343
Payments	(2,477)	(2,646)	(3,594)	(4,614)
Balance at end of period	$ 7,945	$ 5,087	$ 7,945	$ 5,087

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		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Pension Benefits
Defined Benefit Plan Disclosure [Line Items]
Interest cost	$ 5,609	$ 8,250	$ 11,280	$ 16,511
Expected return on plan assets	(11,773)	(15,544)	(26,782)	(31,185)
Amortization of prior service cost (credit)	28	43	56	86
Benefit plans, net	(6,136)	(7,251)	(15,446)	(14,588)
Service cost included in COS	218	209	435	420
Net periodic benefit cost (benefit)	(5,918)	(7,042)	(15,011)	(14,168)
Other Benefits
Defined Benefit Plan Disclosure [Line Items]
Interest cost	39	72	78	144
Expected return on plan assets	0	0	0	0
Amortization of prior service cost (credit)	173	(271)	346	(542)
Benefit plans, net	212	(199)	424	(398)
Service cost included in COS	6	4	12	9
Net periodic benefit cost (benefit)	$ 218	$ (195)	$ 436	$ (389)

PENSION PLANS AND OTHER POSTR_4

PENSION PLANS AND OTHER POSTRETIREMENT BENEFITS - Narrative (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Retirement Benefits [Abstract]
Mark-to-market adjustments for our pension and other postretirement benefit plans	$ 0	$ 0	$ 0	$ 0
Employer contribution	300,000	$ 600,000	24,300,000	$ 1,100,000
Employer contributions, interest	0		400,000
Deferred contribution payments	20,900,000
Employer contribution for Pension Plan due	$ 45,600,000		$ 45,600,000

2021 SENIOR NOTES OFFERING - Na

2021 SENIOR NOTES OFFERING - Narrative (Details) - USD ($)	Feb. 12, 2021	Aug. 12, 2021	Jun. 30, 2021	Jun. 30, 2020	Mar. 31, 2021	Feb. 11, 2021	Feb. 08, 2021
Debt Instrument [Line Items]
Issuance of senior notes, net			$ 138,287,000	$ 0
Senior Notes
Debt Instrument [Line Items]
Aggregate principal amount of Senior Notes sold to date			12,900,000
Net cash proceeds after commission and fees			$ 13,100,000
Senior Notes | Subsequent Event
Debt Instrument [Line Items]
Aggregate principal amount of Senior Notes sold to date		$ 12,700,000
Net cash proceeds after commission and fees		$ 12,900,000
B. Riley Financial, Inc.
Debt Instrument [Line Items]
Fixed rate per annum	6.625%					12.00%
B. Riley Financial, Inc. | Senior Notes
Debt Instrument [Line Items]
Debt face amount	$ 35,000,000
Senior notes 8.125% due 2026 | Senior Notes
Debt Instrument [Line Items]
Issuance of senior notes, net	$ 125,000,000
Fixed rate per annum	8.125%						8.125%
Proceeds from issuance of debt, net	$ 120,000,000
Senior notes 8.125% due 2026 | B. Riley Securities, Inc. | Senior Notes
Debt Instrument [Line Items]
Debt face amount					$ 150,000,000

2021 SENIOR NOTES OFFERING - Co

2021 SENIOR NOTES OFFERING - Components of The Senior Notes (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Feb. 12, 2021	Feb. 08, 2021	Dec. 31, 2020
Debt Instrument [Line Items]
Unamortized deferred financing costs	$ (4,913)
Unamortized premium	388
Net debt balance	168,357			$ 183,330
Senior Notes | Senior notes 8.125% due 2026
Debt Instrument [Line Items]
Fixed rate per annum		8.125%	8.125%
Long-term debt, gross	$ 172,882

LAST OUT TERM LOANS - Last Out

LAST OUT TERM LOANS - Last Out Term Loans by Tranche (Details) - USD ($) $ in Thousands	Jul. 23, 2019	Dec. 31, 2020	Jun. 30, 2021
Debt Instrument [Line Items]
Proceeds		$ 171,660
Discount and fees		8,650
Paid-in-kind interest		3,020
Net debt balance		183,330	$ 168,357
A-3
Debt Instrument [Line Items]
Debt prepayment amount	$ 39,700
Line of Credit | A-3
Debt Instrument [Line Items]
Proceeds		101,660
Discount and fees		8,650
Paid-in-kind interest		3,020
Net debt balance		113,330
Line of Credit | A-4
Debt Instrument [Line Items]
Proceeds		30,000
Discount and fees		0
Paid-in-kind interest		0
Net debt balance		30,000
Line of Credit | A-6
Debt Instrument [Line Items]
Proceeds		40,000
Discount and fees		0
Paid-in-kind interest		0
Net debt balance		$ 40,000

LAST OUT TERM LOANS - Narrative

LAST OUT TERM LOANS - Narrative (Details) - USD ($)

Jun. 01, 2021

May 26, 2021

May 07, 2021

Mar. 04, 2021

Feb. 12, 2021

Jan. 31, 2020

Jul. 23, 2019

Jun. 30, 2021

Jun. 30, 2020

Jun. 30, 2021

Jun. 30, 2020

Feb. 11, 2021

Nov. 30, 2020

May 14, 2020

Debt Instrument [Line Items]

Loss on debt extinguishment

$ (6,530,000)

$ 6,194,000

$ (6,530,000)

$ 6,194,000

Sale of stock, number of shares issued (in shares)

29,487,180

Series A Preferred Stock

Debt Instrument [Line Items]

Sale of stock, number of shares issued (in shares)

444,700

4,000,000

Preferred stock, dividend rate

7.75%

B. Riley Financial, Inc.

Debt Instrument [Line Items]

Fixed rate per annum

6.625%

12.00%

B. Riley Financial, Inc. | Senior Notes

Debt Instrument [Line Items]

Debt face amount

$ 35,000,000

B. Riley Financial, Inc. | Series A Preferred Stock

Debt Instrument [Line Items]

Sale of stock, number of shares issued (in shares)

2,916,880

A-3

Debt Instrument [Line Items]

Loss on debt extinguishment

$ 6,200,000

Repayments of debt

$ 40,000,000

Debt prepayment amount

$ 39,700,000

A-3 | B. Riley Financial, Inc.

Debt Instrument [Line Items]

Payment to related party in exchange for debt prepayment

$ 400,000

Debt prepayment amount

73,300,000

Cash paid for accrued interest

$ 900,000

A-4 | B. Riley Financial, Inc.

Debt Instrument [Line Items]

Repayments of debt

$ 30,000,000

Debt face amount

$ 30,000,000

Proceeds from related party debt

26,300,000

Borrowing fees

$ 3,700,000

A-6 | B. Riley Financial, Inc.

Debt Instrument [Line Items]

Repayments of debt

$ 5,000,000

Debt face amount

$ 10,000,000

$ 30,000,000

REVOLVING DEBT - Debt Facilitie

REVOLVING DEBT - Debt Facilities (Details)	6 Months Ended
	Jun. 30, 2021USD ($)
Letter of credit
Debt Instrument [Line Items]
Maximum borrowing capacity	$ 110,000,000
Revolving credit facility
Debt Instrument [Line Items]
Administrative fees, percentage	0.75%
Fronting fees, percentage	0.25%
Commitment fee, percent	0.375%
Revolving credit facility | Base Rate
Debt Instrument [Line Items]
Basis spread on variable rate	2.00%
Revolving credit facility | LIBOR
Debt Instrument [Line Items]
Basis spread on variable rate	3.00%
Reimbursement agreement | First year after closing
Debt Instrument [Line Items]
Prepayment fees, percentage	2.25%
Reimbursement agreement | Second year after closing
Debt Instrument [Line Items]
Prepayment fees, percentage	2.00%
Reimbursement agreement | Third year after closing
Debt Instrument [Line Items]
Prepayment fees, percentage	1.25%
Reimbursement agreement | Base Rate
Debt Instrument [Line Items]
Basis spread on variable rate	6.50%
Reimbursement agreement | LIBOR
Debt Instrument [Line Items]
Basis spread on variable rate	7.50%
Debt facilities
Debt Instrument [Line Items]
Quarterly fixed charge coverage test ratio (no less than)	1
Maximum senior leverage ratio	2.50
Non-guarantor cash repatriation covenant	$ 35,000,000
Minimum liquidity covenant	30,000,000
Annual cap maintenance capital expenditures	7,500,000
B. Riley Financial, Inc. | Reimbursement agreement
Debt Instrument [Line Items]
Annual fees agreed for Guaranty	$ 900,000

REVOLVING DEBT - A&R Credit Agr

REVOLVING DEBT - A&R Credit Agreement (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Debt Instrument [Line Items]
Gain on debt extinguishment	$ 6,530	$ (6,194)	$ 6,530	$ (6,194)
Unamortized deferred financing costs	4,913		4,913
A&R Credit Agreement
Debt Instrument [Line Items]
Gain on debt extinguishment	6,500
Write off of deferred debt issuance cost	11,300
Unamortized deferred financing costs	$ 4,800		$ 4,800

REVOLVING DEBT - Letters of Cre

REVOLVING DEBT - Letters of Credit, Bank Guarantees and Surety Bonds (Details) $ in Millions	Jun. 30, 2021USD ($)
Debt Instrument [Line Items]
Guarantor obligations	$ 259.3
Prior A&R Credit Agreement
Debt Instrument [Line Items]
Letters of credit outstanding amount	22.1
Outstanding letters of credit subject to foreign currency revaluation	32.1
Prior A&R Credit Agreement | Surety Bond
Debt Instrument [Line Items]
Letters of credit outstanding amount	24.6
Prior A&R Credit Agreement | Financial letters of credit
Debt Instrument [Line Items]
Letters of credit outstanding amount	22
Prior A&R Credit Agreement | Performance letters of credit
Debt Instrument [Line Items]
Letters of credit outstanding amount	79.7
Letters of Credit, and Bank Guarantees
Debt Instrument [Line Items]
Line of credit amount	$ 57.3

REVOLVING DEBT - Other Indebted

REVOLVING DEBT - Other Indebtedness - Loan Payable (Details) $ in Millions	6 Months Ended
	Jun. 30, 2021USD ($)loan	Aug. 12, 2021USD ($)
Debt Instrument [Line Items]
Unsecured interest free loans	$ 2.6
Number of unsecured interest free loans received | loan	2
Loan payable in April 2022
Debt Instrument [Line Items]
Unsecured interest free loans	$ 0.9
Loans payable in May 2022
Debt Instrument [Line Items]
Unsecured interest free loans	$ 1.7
Subsequent Event | Loan payable in May 2023
Debt Instrument [Line Items]
Unsecured interest free loans		$ 0.9

PREFERRED STOCK (Details)

PREFERRED STOCK (Details) - USD ($)

Jun. 30, 2021

Jun. 08, 2021

Jun. 01, 2021

May 26, 2021

May 07, 2021

Feb. 12, 2021

Jul. 23, 2019

Aug. 12, 2021

Jun. 30, 2021

Jun. 30, 2020

Jul. 07, 2021

Dec. 31, 2020

Debt Instrument [Line Items]

Sale of stock, number of shares issued (in shares)

29,487,180

Proceeds from sale of preferred stock

$ 106,043,000

$ 0

Preferred stock, par value (in dollars per share)

$ 0.01

$ 0.01

$ 0.01

Sale of stock, consideration received

$ 163,000,000

Subsequent Event | B. Riley Securities, Inc.

Debt Instrument [Line Items]

Stock sale agreement, aggregate amount offered (up to)

$ 76,000,000

A-3

Debt Instrument [Line Items]

Debt prepayment amount

$ 39,700,000

A-3 | B. Riley Financial, Inc.

Debt Instrument [Line Items]

Payment to related party in exchange for debt prepayment

$ 400,000

Cash paid for accrued interest

900,000

Debt prepayment amount

$ 73,300,000

7.75% Series A Cumulative Perpetual Preferred Stock

Debt Instrument [Line Items]

Preferred stock, dividend rate

7.75%

Sale of stock, number of shares issued (in shares)

444,700

4,000,000

Price per share (In dollars per share)

$ 25

$ 25

Proceeds from sale of preferred stock

$ 10,700,000

$ 95,700,000

Preferred stock, par value (in dollars per share)

$ 0.01

Liquidation preference (in dollars per share)

25

Preferred stock, equivalent dividend per year (in dollars per share)

1.9375

Preferred stock, dividends (in USD per share)

$ 0.290625

Dividends paid

$ 1,700,000

Undeclared dividends of Preferred Stock

$ 0

7.75% Series A Cumulative Perpetual Preferred Stock | B. Riley Financial, Inc.

Debt Instrument [Line Items]

Sale of stock, number of shares issued (in shares)

2,916,880

Price per share (In dollars per share)

$ 25

7.75% Series A Cumulative Perpetual Preferred Stock | Subsequent Event

Debt Instrument [Line Items]

Proceeds from sale of preferred stock

$ 5,900,000

Sale of stock, consideration received

$ 5,900,000

COMMON STOCK (Details)

COMMON STOCK (Details) - USD ($) $ in Millions	Feb. 12, 2021	May 20, 2021
Class of Stock [Line Items]
Sale of stock, number of shares issued (in shares)	29,487,180
Sale of stock, consideration received	$ 163
2021 Plan
Class of Stock [Line Items]
Number of shares available for grant (in shares)		1,250,000
2015 Plan
Class of Stock [Line Items]
Number of shares available for grant (in shares)		2,007,152

INTEREST EXPENSE AND SUPPLEME_3

INTEREST EXPENSE AND SUPPLEMENTAL CASH FLOW INFORMATION - Summary of Interest Expenses (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Debt Instrument [Line Items]
Interest expense on borrowings	$ 4,296	$ 8,237	$ 10,957	$ 16,323
Amortization of deferred origination fees, net	1,893	5,210	7,761	18,053
Other interest expense	1,832	2,035	3,526	3,197
Total interest expense	8,021	15,482	22,244	37,573
Senior Notes
Debt Instrument [Line Items]
Interest expense on borrowings	3,459	0	5,192	0
Amortization of deferred origination fees, net	298	0	1,766	0
Last Out Term Loans
Debt Instrument [Line Items]
Interest expense on borrowings	837	4,828	4,349	8,875
Amortization of deferred origination fees, net	0	1,579	0	3,729
U.S. Revolving Credit Facility
Debt Instrument [Line Items]
Interest expense on borrowings	0	3,409	1,416	7,448
U.S. Revolving Credit Facility - deferred financing fees and commitment fees
Debt Instrument [Line Items]
Amortization of deferred origination fees, net	1,595	3,629	5,995	12,664
U.S. Revolving Credit Facility - deferred ticking fee for Amendment 16
Debt Instrument [Line Items]
Amortization of deferred origination fees, net	$ 0	$ 2	$ 0	$ 1,660

INTEREST EXPENSE AND SUPPLEME_4

INTEREST EXPENSE AND SUPPLEMENTAL CASH FLOW INFORMATION - Additional Information (Details) - USD ($) $ in Thousands	Aug. 11, 2021	Jun. 30, 2021	Dec. 31, 2020	Jun. 30, 2020
Cash and Cash Equivalents [Line Items]
Restricted cash and cash equivalents		$ 113,538	$ 10,085	$ 11,301
Subsequent Event
Cash and Cash Equivalents [Line Items]
Backstop letters of credit issued	$ 60,700
Letters of credit expected to cover remaining collateral	$ 50,000
Letters of credit collateral
Cash and Cash Equivalents [Line Items]
Restricted cash and cash equivalents		$ 110,708	$ 0	$ 0

INTEREST EXPENSE AND SUPPLEME_5

INTEREST EXPENSE AND SUPPLEMENTAL CASH FLOW INFORMATION - Schedule of Cash and Cash Equivalents Reconciliation (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020	Jun. 30, 2020
Cash and Cash Equivalents [Line Items]
Cash and cash equivalents	$ 30,060	$ 57,338	$ 36,815
Restricted cash and cash equivalents	113,538	10,085	11,301
Total cash, cash equivalents and restricted cash shown in the Condensed Consolidated Balance Sheets and Condensed Consolidated Statements of Cash Flows	143,598	67,423	48,116
Held by foreign entities
Cash and Cash Equivalents [Line Items]
Cash and cash equivalents	27,822	38,726	34,676
Held by U.S. entities
Cash and Cash Equivalents [Line Items]
Cash and cash equivalents	2,238	18,612	2,139
Reinsurance reserve requirements
Cash and Cash Equivalents [Line Items]
Restricted cash and cash equivalents	590	4,551	5,596
Restricted foreign accounts
Cash and Cash Equivalents [Line Items]
Restricted cash and cash equivalents	0	2,869	2,661
Bank guarantee collateral
Cash and Cash Equivalents [Line Items]
Restricted cash and cash equivalents	2,240	2,665	3,044
Letters of credit collateral
Cash and Cash Equivalents [Line Items]
Restricted cash and cash equivalents	$ 110,708	$ 0	$ 0

INTEREST EXPENSE AND SUPPLEME_6

INTEREST EXPENSE AND SUPPLEMENTAL CASH FLOW INFORMATION - Schedule of Supplemental Cash Flow Disclosures (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Debt Instrument [Line Items]
Income tax payments, net	$ 3,331	$ 1,438
Total cash paid for interest	15,030	14,250
U.S. Revolving Credit Facility
Debt Instrument [Line Items]
Total cash paid for interest	5,979	8,110
Last Out Term Loan
Debt Instrument [Line Items]
Total cash paid for interest	6,140	6,140
Senior notes 8.125% due 2026 | Senior Notes
Debt Instrument [Line Items]
Total cash paid for interest	$ 2,911	$ 0

PROVISION FOR INCOME TAXES (Det

PROVISION FOR INCOME TAXES (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Income Tax Contingency [Line Items]
Income tax expense	$ 3,546,000	$ 845,000	$ 6,382,000	$ 35,000
Effective tax rate	53.00%	(4.90%)	(107.80%)	(0.10%)
Favorable (unfavorable) discrete items	$ (900,000)	$ 1,800,000	$ (3,500,000)	$ 1,300,000
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 (Details)

CONTINGENCIES (Details) - USD ($) $ in Millions	Jan. 11, 2021	Dec. 14, 2020	Dec. 27, 2019
Loss Contingencies [Line Items]
Loss contingency, damages sought, contractual cap		$ 11.7
Pending Litigation
Loss Contingencies [Line Items]
Alleged damages	$ 2.9		$ 58.9

COMPREHENSIVE INCOME - Accumula

COMPREHENSIVE INCOME - Accumulated Other Comprehensive Income (Details) - USD ($) $ in Thousands	3 Months Ended				6 Months Ended
	Jun. 30, 2021	Mar. 31, 2021	Jun. 30, 2020	Mar. 31, 2020	Jun. 30, 2021	Jun. 30, 2020
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	$ (195,444)	$ (338,262)	$ (323,650)	$ (294,939)	$ (338,262)	$ (294,939)
Other comprehensive income (loss) before reclassifications	(1,478)	(70)	(4,095)	2,380
Reclassified from AOCI to net income (loss)	198	(4,314)	(246)	(246)
Other comprehensive loss	(1,280)	(4,384)	(4,341)	2,134	(5,664)	(2,207)
Ending balance	(15,719)	(195,444)	(338,700)	(323,650)	(15,719)	(338,700)
Accumulated Other Comprehensive Loss
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	(56,774)	(52,390)	4,060	1,926	(52,390)	1,926
Ending balance	(58,054)	(56,774)	(281)	4,060	(58,054)	(281)
Currency translation gain (loss)
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	(52,157)	(47,575)	8,123	5,743	(47,575)	5,743
Other comprehensive income (loss) before reclassifications	(1,478)	(70)	(4,095)	2,380
Reclassified from AOCI to net income (loss)	0	(4,512)	0	0
Other comprehensive loss	(1,478)	(4,582)	(4,095)	2,380
Ending balance	(53,635)	(52,157)	4,028	8,123	(53,635)	4,028
Net unrecognized loss related to benefit plans (net of tax)
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	(4,617)	(4,815)	(4,063)	(3,817)	(4,815)	(3,817)
Other comprehensive income (loss) before reclassifications	0	0	0	0
Reclassified from AOCI to net income (loss)	198	198	(246)	(246)
Other comprehensive loss	198	198	(246)	(246)
Ending balance	$ (4,419)	$ (4,617)	$ (4,309)	$ (4,063)	$ (4,419)	$ (4,309)

COMPREHENSIVE INCOME - Reclassi

COMPREHENSIVE INCOME - Reclassification out of Accumulated other Comprehensive Income (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Loss on sale of business	$ (2,598)	$ (108)	$ (2,240)	$ (108)
Benefit plans, net	5,924	7,450	15,022	14,986
Net (loss) income	3,141	(18,133)	(12,302)	(51,668)
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]
Loss on sale of business	0	0	4,512	0
Benefit plans, net	(198)	246	(396)	492
Net (loss) income	$ (198)	$ 246	$ 4,116	$ 492

FAIR VALUE MEASUREMENTS - Summa

FAIR VALUE MEASUREMENTS - Summary of Available-for-Sale Securities Measured at Fair Value (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total fair value of available-for-sale securities	$ 13,741	$ 15,308
Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total fair value of available-for-sale securities	13,063	14,672
Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total fair value of available-for-sale securities	678	636
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	7,919	6,139
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	7,919	6,139
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	678	636
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	678	636
Corporate Stocks
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total fair value of available-for-sale securities		4,168
Corporate Stocks | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total fair value of available-for-sale securities		4,168
Corporate Stocks | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total fair value of available-for-sale securities		0
United States Government and agency securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total fair value of available-for-sale securities	5,144	4,365
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	5,144	4,365
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)	Jun. 30, 2021
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	5 years

FAIR VALUE MEASUREMENTS - Senio

FAIR VALUE MEASUREMENTS - Senior Notes (Details) - Senior notes 8.125% due 2026 - Senior Notes - USD ($) $ in Thousands	Jun. 30, 2021	Feb. 12, 2021	Feb. 08, 2021
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed rate per annum		8.125%	8.125%
Carrying Value	$ 172,882
Estimated Fair Value	$ 179,105

RELATED PARTY TRANSACTIONS (Det

RELATED PARTY TRANSACTIONS (Details) - USD ($)

Jun. 01, 2021

May 26, 2021

May 07, 2021

Mar. 26, 2021

Feb. 12, 2021

Nov. 13, 2020

Jul. 23, 2019

Nov. 19, 2018

Jan. 31, 2021

Jun. 30, 2021

Jun. 30, 2020

Jun. 30, 2021

Jun. 30, 2020

Mar. 31, 2021

Feb. 11, 2021

Feb. 08, 2021

Nov. 30, 2020

May 14, 2020

Related Party Transaction [Line Items]

Payment of debt issuance costs

$ 10,933,000

$ 10,356,000

Sale of stock, number of shares issued (in shares)

29,487,180

Last Out Term Loan Tranche A | Senior Notes

Related Party Transaction [Line Items]

Debt instrument, allowed prepayment, amount

$ 35,000,000

Senior notes 8.125% due 2026 | Senior Notes

Related Party Transaction [Line Items]

Fixed rate per annum

8.125%

8.125%

A-3

Related Party Transaction [Line Items]

Debt prepayment amount

$ 39,700,000

7.75% Series A Cumulative Perpetual Preferred Stock

Related Party Transaction [Line Items]

Preferred stock, dividend rate

7.75%

Sale of stock, number of shares issued (in shares)

444,700

4,000,000

BPRI Executive Consulting, LLC | Financial advisory services

Related Party Transaction [Line Items]

Related party transaction, period with written notice to terminate agreement

30 days

Related party transaction monthly payments

$ 750,000

B. Riley Financial, Inc.

Related Party Transaction [Line Items]

Total fees

$ 200,000

$ 3,300,000

$ 400,000

$ 7,500,000

Proceeds from sale of stock

$ 4,500,000

Fixed rate per annum

6.625%

12.00%

B. Riley Financial, Inc. | Senior Notes

Related Party Transaction [Line Items]

Debt face amount

$ 35,000,000

B. Riley Financial, Inc. | A-6

Related Party Transaction [Line Items]

Debt face amount

$ 10,000,000

$ 30,000,000

B. Riley Financial, Inc. | A-3

Related Party Transaction [Line Items]

Payment to related party in exchange for debt prepayment

$ 400,000

Cash paid for accrued interest

900,000

Debt prepayment amount

$ 73,300,000

B. Riley Financial, Inc. | 7.75% Series A Cumulative Perpetual Preferred Stock

Related Party Transaction [Line Items]

Sale of stock, number of shares issued (in shares)

2,916,880

Eos Energy Storage LLC | Common Class A

Related Party Transaction [Line Items]

Purchase of common stock (in shares)

200,000

Payments to acquire stock

$ 2,000,000

B. Riley Securities, Inc.

Related Party Transaction [Line Items]

Payments of stock issuance costs

9,500,000

B. Riley Securities, Inc. | Senior Notes

Related Party Transaction [Line Items]

Payment of debt issuance costs

$ 5,200,000

B. Riley Securities, Inc. | Senior notes 8.125% due 2026 | Senior Notes

Related Party Transaction [Line Items]

Payment of debt issuance costs

$ 300,000

Debt face amount

$ 150,000,000

B. Riley Securities, Inc. | 7.75% Series A Cumulative Perpetual Preferred Stock

Related Party Transaction [Line Items]

Payment of debt issuance costs

$ 400,000

$ 4,300,000

Babcock & Wilcox Enterprises, Inc. | B. Riley Capital Management, LLC

Related Party Transaction [Line Items]

Ownership percent of common stock

33.10%

Babcock & Wilcox Enterprises, Inc. | Vintage Capital Management, LLC

Related Party Transaction [Line Items]

Ownership percent of common stock

0.00%

Common stock shares issued (in shares)

10,720,785

ASSETS HELD FOR SALE, DIVESTI_3

ASSETS HELD FOR SALE, DIVESTITURES AND DISCONTINUED OPERATIONS - Narrative (Details) - USD ($) $ in Thousands	Mar. 15, 2021	Mar. 08, 2021	Apr. 06, 2020	Mar. 17, 2020	Jun. 30, 2021	Mar. 31, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020	Mar. 05, 2021	Dec. 31, 2020
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Proceeds from sale of certain fixed assets, gross	$ 4,000
Proceeds from sale of certain fixed assets, net	3,300
Gain on sale of fixed assets	$ 1,900							$ (2,240)	$ (108)
Proceeds from sale of business and assets, net								7,170	8,773
(Loss) gain on sale of business					$ (2,598)		$ (108)	(2,240)	$ (108)
Amount received after remaining escrow is settled			$ 3,500	$ 4,500
Disposal Group, Disposed of by Sale | Diamond Power Machine (Hubei) Co., Inc
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Consideration from divestitures										$ 2,800
Proceeds from sale of business and assets, net		$ 2,000
Favorable contract asset recognized						$ 800
(Loss) gain on sale of business						400		(2,200)
Gain on sale of business, CTA						$ 4,500
Gain (loss) on disposition of business, adjustment					2,600
Discontinued Operations, Held-for-sale
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Assets held for sale					$ 1,766			$ 1,766			$ 15,884

ASSETS HELD FOR SALE, DIVESTI_4

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	Jun. 30, 2021	Dec. 31, 2020
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Accounts receivable – trade, net	$ 0	$ 2,103
Accounts receivable – other	0	86
Contracts in progress	0	458
Inventories	0	1,676
Other current assets	0	405
Current assets held for sale	0	4,728
Net property, plant and equipment	1,766	10,365
Intangible assets	0	759
Right-of-use-asset	0	32
Non-current assets held for sale	1,766	11,156
Total assets held for sale	1,766	15,884
Accounts payable	0	5,211
Accrued employee benefits	0	178
Advance billings on contracts	0	370
Accrued warranty expense	0	466
Operating lease liabilities	0	32
Other accrued liabilities	0	2,048
Current liabilities held for sale	0	8,305
Total liabilities held for sale	$ 0	$ 8,305