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PENSION PLANS AND OTHER POSTRETIREMENT BENEFITS (Tables)
 12 Months Ended
Dec. 31, 2022
Retirement Benefits [Abstract]  
Schedule of Changes in Projected Benefit Obligations, Fair Value of Plan Assets, and Funded Status of Plan Obligations and funded status
Pension Benefits
Year Ended December 31,		Other Benefits 
Year Ended December 31,
(in thousands)2022202120222021
Change in benefit obligation:
Benefit obligation at beginning of period$1,199,845 $1,284,019 $10,372 $11,802 
Service cost699 781 20 22 
Interest cost26,676 22,559 182 145 
Plan participants’ contributions— — 125 155 
Amendments— 676 — — 
Actuarial gain(249,945)(28,815)(1,353)(153)
Foreign currency exchange rate changes(4,413)165 (82)3 
Benefits paid(79,547)(79,540)(1,588)(1,602)
Benefit obligation at end of period$893,315 $1,199,845 $7,676 $10,372 
Change in plan assets:
Fair value of plan assets at beginning of period$1,037,235 $1,047,646 $— $— 
Actual return on plan assets(184,570)42,954 — — 
Employer contribution3,713 26,158 1,463 1,447 
Plan participants' contributions— — 125 155 
Foreign currency exchange rate changes(5,908)17 — — 
Benefits paid(79,547)(79,540)(1,588)(1,602)
Fair value of plan assets at the end of period770,923 1,037,235 — — 
Funded status$(122,392)$(162,610)$(7,676)$(10,372)
Amounts recognized in the balance sheet consist of:
Accrued employee benefits$(1,118)$(1,162)$(1,162)$(1,297)
Accumulated postretirement benefit obligation— — (6,514)(9,075)
Pension liability(129,662)(173,655)— — 
Prepaid pension8,388 12,207 — — 
Accrued benefit liability, net$(122,392)$(162,610)$(7,676)$(10,372)
Amount recognized in accumulated comprehensive income (before taxes):
Prior service cost$966 $1,146 $1,665 $2,355 
Supplemental information:
Plans with accumulated benefit obligation in excess of plan assets
Projected benefit obligation856,546 1,141,706 — — 
Accumulated benefit obligation856,546 1,141,706 7,676 10,372 
Fair value of plan assets725,767 966,889 — — 
Plans with plan assets in excess of accumulated benefit obligation
Projected benefit obligation36,770 58,139 — — 
Accumulated benefit obligation36,770 58,139 — — 
Fair value of plan assets45,158 70,346 — — 
Schedule of Net Benefit Costs
Components of net periodic benefit cost (benefit) included in net income (loss) are as follows:
Pension BenefitsOther Benefits
Year ended December 31,Year ended December 31,
(in thousands)202220212020202220212020
Interest cost$26,676 $22,559 $33,267 $182 $145 $288 
Expected return on plan assets(57,547)(56,154)(61,322)— — — 
Amortization of prior service cost (credit)189 97 97 691 691 (1,084)
Recognized net actuarial (gain) loss(6,365)(15,327)22,676 (1,354)(153)478 
Benefit plans, net (1)
(37,047)(48,825)(5,282)(481)683 (318)
Service cost included in COS (2)
699 781 792 20 22 19 
Net periodic benefit cost (benefit)$(36,348)$(48,044)$(4,490)$(461)$705 $(299)
(1)    Benefit plans, net, which is presented separately in our 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 our Consolidated Statement of Operations and is allocated to the B&W Thermal segment.
Schedule of Assumptions Used Assumptions
 Pension BenefitsOther Benefits
Year ended December 31,Year ended December 31,
 202220212020202220212020
Weighted average assumptions used to determine net periodic benefit obligations:
Comparative single equivalent discount rate5.35%2.81%2.50%5.28%2.50%1.97%
Rate of compensation increase0.06%0.07%0.08%———
Weighted average assumptions used to determine net periodic benefit cost:
Comparative single equivalent discount rate2.88%2.52%3.23%5.28%2.50%1.97%
Expected return on plan assets5.90%5.76%6.63%———
Rate of compensation increase0.06%0.07%0.08%———
Schedule of Allocation of Plan Assets The following is a summary of the asset allocations for the Master Trust by asset category:
Year ended December 31,
20222021
Asset category:
United States government securities12 %17 %
Corporate stocks6 %8 %
Venture capital42 %40 %
Hedge funds27 %30 %
Cash and accrued items13 %5 %
The combined weighted average asset allocations of these plans by asset category were as follows:
Year ended December 31,
20222021
Asset category:
Commingled and mutual funds24 %30 %
Fixed income72 %67 %
Other4 %3 %
The target allocation for 2022 for the foreign plans, by asset class, is as follows:
Canadian
Plans		U.K. Plan
Asset class:
United States equity24 %3 %
Global equity26 %4 %
Fixed income and other50 %93 %
Schedule of Changes in Fair Value of Plan Assets The following is a summary of total investments of the Company's plans measured at fair value:
(in thousands)Year ended December 31, 2022Level 1Level 2Level 3
Commingled and mutual funds$12,020 $— $12,020 $— 
United States government securities83,948 83,948 — — 
Fixed income53,258 13,191 32,548 7,519 
Equity41,313 41,137 — 176 
Venture capital250,344 — — 250,344 
Hedge fund83,439 — — 83,439 
Cash and accrued items$76,257 76,257 — — 
Investments measured at fair value$600,579 $214,533 $44,568 $341,478 
Investments measured at net asset value171,441 
Pending trades(1,096)
Total pension and other postretirement benefit assets$770,924 
(in thousands)Year ended December 31, 2021Level 1Level 2Level 3
Commingled and mutual funds$22,261 $— $22,261 $— 
United States government securities167,328 167,328 — — 
Fixed income65,370 15,196 47,309 2,865 
Equity80,299 74,888 5,243 168 
Venture capital236,730 — — 236,730 
Hedge fund80,711 — — 80,711 
Cash and accrued items30,130 30,130 — — 
Investments measured at fair value$682,829 $287,542 $74,813 $320,474 
Investments measured at net asset value349,798 
Pending trades4,608 
Total pension and other postretirement benefit assets$1,037,235 
Schedule of Defined Benefit Plans Disclosures Expected cash flows
Domestic PlansForeign Plans
(in thousands)Pension
Benefits		Other
Benefits		Pension
Benefits		Other
Benefits
Expected employer contributions to trusts of defined benefit plans:
2023$1,146 $1,033 $277 $152 
Expected benefit payments (1):
202374,703 1,033 2,495 152 
202473,971 932 2,504 141 
202572,861 847 2,608 127 
202671,658 767 2,674 120 
202770,197 692 2,679 107 
2028-2032324,874 2,509 13,989 384 
(1Pension benefit payments are made from their respective plan's trust.
Schedule of Multiemployer Plans The following table summarizes the Company's contributions to multi-employer plans for the years covered by this report:
Pension FundEIN/PINPension Protection
Act Zone Status		FIP/RP Status
Pending/
Implemented		ContributionsSurcharge ImposedExpiration Date
of Collective
Bargaining
Agreement
202220212020
202220212020(in millions)
Boilermaker-Blacksmith National Pension Trust48-6168020/ 001YellowYellowYellowYes$8.0 $16.6 $4.0 NoDescribed
Below
All other1.0 2.2 0.9 
$9.0 $18.8 $4.9