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SEGMENT REPORTING (Tables)
3 Months Ended
Mar. 31, 2023
Segment Reporting [Abstract]  
Schedule of Segment Reporting Information, by Segment
An analysis of the Company's operations by segment is as follows:
Three Months Ended March 31,
(in thousands)20232022
Revenues:
B&W Renewable segment
B&W Renewable$49,132 $19,711 
B&W Renewable Services 16,310 8,288 
Vølund18,681 16,336 
B&W Solar15,989 23,626 
100,112 67,961 
B&W Environmental segment
B&W Environmental20,361 18,185 
SPIG16,605 12,060 
GMAB2,474 4,703 
39,440 34,948 
B&W Thermal segment
B&W Thermal119,236 102,239 
119,236 102,239 
Eliminations(1,541)(1,099)
Total Revenues$257,247 $204,049 
Reconciliation from Net (Loss) Income to Adjusted EBITDA The following table is provided to reconcile our segment performance metrics to loss before income tax expense.
Three Months Ended March 31,
(in thousands)20232022
B&W Renewable segment - Adjusted EBITDA$4,940 $1,955 
B&W Environmental segment - Adjusted EBITDA1,906 1,439 
B&W Thermal segment - Adjusted EBITDA13,733 14,154 
Corporate(5,080)(4,373)
R&D expenses(1,307)(655)
Interest Expense(14,429)(12,324)
Depreciation & Amortization(5,365)(6,202)
Benefit Plans, net(109)7,452 
Gain on sales, net(937)20 
Settlement and related legal costs3,009 (2,528)
Advisory fees for settlement costs and liquidity planning(546)(1,032)
Stock Compensation(3,227)(1,319)
Restructuring expense and business services transition (960)(2,688)
Acquisition pursuit and related costs(134)(843)
Product Development(1,370)(852)
Foreign exchange(461)3,085 
Financial advisory services— — 
Contract Disposal(1,387)(875)
Inventory step-up price adjustment— (1,745)
Other Net(261)(123)
Loss before income tax expense(11,985)(7,454)