Centrus Energy (LEU) 10-Q8 Nov 232023 Q3 Quarterly reportFinancial data

Company Profile

Cover

Cover - shares	9 Months Ended
Cover - shares	Sep. 30, 2023	Nov. 01, 2023
Document Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2023
Document Transition Report	false
Entity File Number	1-14287
Entity Registrant Name	Centrus Energy Corp.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	52-2107911
Entity Address, Address Line One	6901 Rockledge Drive,
Entity Address, Address Line Two	Suite 800,
Entity Address, City or Town	Bethesda
Entity Address, State or Province	MD
Entity Address, Postal Zip Code	20817
City Area Code	301
Local Phone Number	564-3200
Title of 12(b) Security	Class A Common Stock, par value $0.10 per share
Trading Symbol	LEU
Security Exchange Name	NYSEAMER
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Central Index Key	0001065059
Current Fiscal Year End Date	--12-31
Amendment Flag	false
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q3
Common Class A [Member]
Document Information [Line Items]
Entity Common Stock, Shares Outstanding (in shares)		14,807,255
Common Class B [Member]
Document Information [Line Items]
Entity Common Stock, Shares Outstanding (in shares)		719,200

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Sep. 30, 2023	Dec. 31, 2022
Current Assets
Cash and cash equivalents	$ 183.3	$ 179.9
Accounts receivable, net	9.4	38.1
Inventories	210.8	209.2
Deferred costs associated with deferred revenue	116	135.7
Other current assets	12.4	24.2
Total current assets	531.9	587.1
Property, Plant and Equipment, Net	6.1	5.5
Deposits for financial assurance	32.3	32.3
Intangible assets, net	41.5	45.7
Deferred Tax Assets, Net	29.1	26.8
Other long-term assets	3.8	8.1
Total Assets	644.7	705.5
Current Liabilities
Accounts payable and accrued liabilities	44.3	65.5
Accounts payable under purchase agreements	13.8	43.6
Inventories owed to customers and suppliers	0.4	60.8
Contract with Customer, Liability, Current	272.7	273.2
Current debt	6.1	6.1
Total current liabilities	337.3	449.2
Long-term debt	89.6	95.7
Postretirement health and life benefit obligations	83.5	84.5
Pension benefit liabilities	42.2	43.6
Advances from customer, noncurrent	32.8	46.2
Long-term SWU Loan	74.7	48.7
Other long-term liabilities	8.6	11.7
Liabilities	668.7	779.6
Commitments and contingencies (Note 11)
Stockholders' Deficit
Preferred stock	0	0
Excess of capital over par value	180.2	158.1
Accumulated deficit	(205.8)	(233.9)
Accumulated other comprehensive income (loss), net of tax	0	0.2
Stockholders' Equity	(24)	(74.1)
Total Liabilities and Stockholders’ Equity (Deficit)	$ 644.7	$ 705.5
Common Class A [Member]
Stockholders' Deficit
Common Stock, Shares, Issued	14,807,255	13,919,646
Common stock	$ 1.5	$ 1.4
Common Class B [Member]
Stockholders' Deficit
Common Stock, Shares, Issued	719,200	719,200
Common stock	$ 0.1	$ 0.1

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Millions	Sep. 30, 2023	Dec. 31, 2022
Preferred Stock, Par Value Per Share	$ 1
Preferred Stock, Shares Authorized	20,000,000
Accumulated Depreciation, Property, Plant, and Equipment	$ 4.1	$ 3.6
Common Class A [Member]
Common Stock, Par or Stated Value Per Share	$ 0.10
Common Stock, Shares, Outstanding	14,807,255	13,919,646
Common Stock, Shares Authorized	70,000,000
Common Stock, Shares, Issued	14,807,255	13,919,646
Common Class B [Member]
Common Stock, Par or Stated Value Per Share	$ 0.10
Common Stock, Shares, Outstanding	719,200	719,200
Common Stock, Shares Authorized	30,000,000
Common Stock, Shares, Issued	719,200	719,200

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Revenue from Contract with Customer, Excluding Assessed Tax	$ 51.3	$ 33.2	$ 216.6	$ 167.6
Cost of sales	40	30.9	154.3	98.1
Gross profit (loss)	11.3	2.3	62.3	69.5
Advanced technology license and decommissioning costs	3.3	5.4	10.8	10
Selling, general and administrative	9.3	8.6	27.4	24.4
Amortization of intangible assets	1.4	1.1	4.2	6.2
Special charges for workforce reductions	0.2	0	0.1	0.5
Operating income (loss)	(2.9)	(12.8)	19.8	28.4
Nonoperating components of net periodic benefit expense (income)	(0.6)	(4.4)	0.1	(11.1)
Interest expense	0.4	0.1	0.9	0.1
Investment income	(2.3)	(0.6)	(6.4)	(0.8)
Other Nonoperating Income	(1)	0	(1)	0
Income (loss) before income taxes	0.6	(7.9)	26.2	40.2
Provision (benefit) for income taxes	(7.6)	(1.8)	(1.9)	9.3
Net income (loss)	$ 8.2	$ (6.1)	$ 28.1	$ 30.9
Net income (loss) per common share - basic	$ 0.53	$ (0.42)	$ 1.86	$ 2.12
Net income (loss) per common share - diluted	$ 0.52	$ (0.42)	$ 1.82	$ 2.06
Weighted-average number of shares outstanding:
Average number of shares outstanding, basic	15,374	14,623	15,127	14,586
Average number of shares outstanding, diluted	15,626	14,623	15,415	14,974
Product [Member]
Revenue from Contract with Customer, Excluding Assessed Tax	$ 40.5	$ 20.2	$ 186.9	$ 123.4
Cost of sales	30.4	18.9	126.1	59.8
Uranium [Member]
Revenue from Contract with Customer, Excluding Assessed Tax	0	12.5	39.5	17.4
Separative Work Units [Member]
Revenue from Contract with Customer, Excluding Assessed Tax	40.5	7.7	147.4	106
Service [Member]
Revenue from Contract with Customer, Excluding Assessed Tax	10.8	13	29.7	44.2
Cost of sales	$ 9.6	$ 12	$ 28.2	$ 38.3

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022
Cash Flows from Operating Activities
Net income (loss)	$ 28.1	$ 30.9
Adjustments to reconcile net income (loss) to net cash (used in) operating activities:
Depreciation and amortization	4.8	6.7
Provision for Loss on Contracts Utilized	(16.7)	(0.5)
Deferred tax assets	(2.3)	8.8
Equity related compensation	2	2.2
Revaluation of inventory borrowing	3.5	5.5
Other Operating Activities, Cash Flow Statement	(1.9)	0
Changes in operating assets and liabilities:
Accounts receivable – (increase) decrease	28.7	21.8
Inventories – (increase) decrease	23	(98.9)
Increase Decrease in Inventories Owed to Suppliers	(60.4)	66.9
Increase (Decrease) in Prepaid Expenses, Other	13.4	(16.6)
Accounts payable and other liabilities – increase (decrease)	(2.5)	(1.9)
Payables under SWU purchase agreements – increase (decrease)	(29.8)	(16.3)
Deferred revenue, net of deferred costs – increase (decrease)	3.7	(30.4)
Pension and postretirement liabilities - increase (decrease)	(1.7)	(13)
Other, net	(0.7)	(0.3)
Net Cash (Used in) Operating Activities	(8.8)	(35.1)
Cash Flows Provided by Investing Activities
Capital expenditures	(1.1)	(0.6)
Net Cash Provided by (Used in) Investing Activities	(1.1)	(0.6)
Cash Flows Used in Financing Activities
Proceeds from the sale of common stock, net	23.2	0
Payment of interest classified as debt	(6.1)	(6.1)
Payment, Tax Withholding, Share-based Payment Arrangement	(3)	(1.9)
Proceeds from (Payments for) Other Financing Activities	(0.2)	(0.3)
Exercise of stock options	0	0.2
Net Cash (Used in) Financing Activities	13.9	(8.1)
Effect of Exchange Rate on Cash, Cash Equivalents, Restricted Cash, and Restricted Cash Equivalents, Continuing Operations	(0.6)	0
Decrease in cash, cash equivalents and restricted cash	3.4	(43.8)
Cash, cash equivalents and restricted cash, start of period	212.4	196.8
Cash, cash equivalents and restricted cash, end of period	215.8	153
Reclassification of stock-based compensation liability to equity [Member]
Supplemental Cash Flow Information:
Other Significant Noncash Transaction, Value of Consideration Given	0	(10.6)
Property, plant and equipment included in accounts payable and accrued liabilities [Member]
Supplemental Cash Flow Information:
Other Significant Noncash Transaction, Value of Consideration Given	(0.3)	0
Adjustment to Right of Use Lease due to Modification [Domain]
Supplemental Cash Flow Information:
Other Significant Noncash Transaction, Value of Consideration Given	$ (4.2)	$ 0

CONSOLIDATED STATEMENTS OF STOC

CONSOLIDATED STATEMENTS OF STOCKHOLDERS' DEFICIT - USD ($) $ in Millions	Total	Preferred Stock [Member]	Common Stock [Member] Common Class A [Member]	Common Stock [Member] Common Class B [Member]	Excess of Capital over Par Value [Member]	Accumulated Deficit [Member]	Accumulated Other Comprehensive Income (Loss) [Member]
Beginning Balance at Dec. 31, 2021	$ (141.9)	$ 0	$ 1.4	$ 0.1	$ 140.7	$ (284.6)	$ 0.5
Net income (loss)	(0.4)	0	0	0	0	(0.4)	0
Stock Issued During Period, Value, Stock Options Exercised	0.2	0	0	0	0.2	0	0
Exchange of preferred stock for common stock and common stock warrant	10.6
Reclassification of stock-based compensation liability to equity	(1.9)	0	0	0	10.6	0	0
Shares withheld for employee taxes		0	0	0	(1.9)	0	0
Other comprehensive income, net of tax	(0.1)	0	0	0	0	0	(0.1)
Shares Issued, Value, Share-based Payment Arrangement, after Forfeiture	0.5	0	0	0	0.5	0	0
Ending Balance at Mar. 31, 2022	(133)	0	1.4	0.1	150.1	(285)	0.4
Beginning Balance at Dec. 31, 2021	(141.9)	0	1.4	0.1	140.7	(284.6)	0.5
Net income (loss)	30.9
Ending Balance at Sep. 30, 2022	(100.3)	0	1.4	0.1	151.7	(253.7)	0.2
Beginning Balance at Mar. 31, 2022	(133)	0	1.4	0.1	150.1	(285)	0.4
Net income (loss)	37.4	0	0	0	0	37.4	0
Other comprehensive income, net of tax	(0.1)	0	0	0	0	0	(0.1)
Shares Issued, Value, Share-based Payment Arrangement, after Forfeiture	0.8	0	0	0	0.8	0	0
Ending Balance at Jun. 30, 2022	(94.9)	0	1.4	0.1	150.9	(247.6)	0.3
Net income (loss)	(6.1)	0	0	0	0	(6.1)	0
Other comprehensive income, net of tax	(0.1)	0	0	0	0	0	(0.1)
Shares Issued, Value, Share-based Payment Arrangement, after Forfeiture	0.8	0	0	0	0.8	0	0
Ending Balance at Sep. 30, 2022	(100.3)	0	1.4	0.1	151.7	(253.7)	0.2
Beginning Balance at Dec. 31, 2022	(74.1)	0	1.4	0.1	158.1	(233.9)	0.2
Net income (loss)	7.2	0	0	0	0	7.2	0
Stock issued during period	23.2	0	0.1	0	23.1	0	0
Shares withheld for employee taxes	(1.9)	0	0	0	(1.9)	0	0
Other comprehensive income, net of tax	(0.1)	0	0	0	0	0	(0.1)
Shares Issued, Value, Share-based Payment Arrangement, after Forfeiture	1.2	0	0	0	1.2	0	0
Ending Balance at Mar. 31, 2023	(44.5)	0	1.5	0.1	180.5	(226.7)	0.1
Beginning Balance at Dec. 31, 2022	(74.1)	0	1.4	0.1	158.1	(233.9)	0.2
Net income (loss)	28.1
Ending Balance at Sep. 30, 2023	(24)	0	1.5	0.1	180.2	(205.8)	0
Beginning Balance at Mar. 31, 2023	(44.5)	0	1.5	0.1	180.5	(226.7)	0.1
Net income (loss)	12.7	0	0	0	0	12.7	0
Shares withheld for employee taxes	(1.1)	0	0	0	(1.1)	0	0
Shares Issued, Value, Share-based Payment Arrangement, after Forfeiture	0.4	0	0	0	0.4	0	0
Ending Balance at Jun. 30, 2023	(32.5)	0	1.5	0.1	179.8	(214)	0.1
Net income (loss)	8.2	0	0	0	0	8.2	0
Other comprehensive income, net of tax	(0.1)	0	0	0	0	0	(0.1)
Shares Issued, Value, Share-based Payment Arrangement, after Forfeiture	0.4	0	0	0	0.4	0	0
Ending Balance at Sep. 30, 2023	$ (24)	$ 0	$ 1.5	$ 0.1	$ 180.2	$ (205.8)	$ 0

Basis of Presentation

Basis of Presentation	9 Months Ended
Basis of Presentation	Sep. 30, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	BASIS OF PRESENTATION Basis of Presentation and Principles of Consolidation The unaudited Consolidated Financial Statements of Centrus (the “Company”), which include the accounts of the Company, its principal subsidiary, Enrichment Corp., and its other subsidiaries, as of September 30, 2023, and for the three and nine months ended September 30, 2023, and 2022, have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”). The unaudited Consolidated Balance Sheet as of December 31, 2022, was derived from audited Consolidated Financial Statements, but does not include all disclosures required by generally accepted accounting principles in the United States (“GAAP”). In the opinion of management, the unaudited Consolidated Financial Statements reflect all adjustments, including normal recurring adjustments, necessary for a fair statement of the financial results for the interim period. Certain information and notes normally included in financial statements prepared in accordance with GAAP have been omitted pursuant to such rules and regulations. All material intercompany transactions have been eliminated. The Company’s components of comprehensive income for the three and nine months ended September 30, 2023 and 2022, are insignificant. Operating results for the three and nine months ended September 30, 2023, are not necessarily indicative of the results that may be expected for the year ending December 31, 2023. The unaudited Consolidated Financial Statements should be read in conjunction with the Consolidated Financial Statements and related notes and Management's Discussion and Analysis of Financial Condition and Results of Operations included in the Annual Report on Form 10-K for the year ended December 31, 2022. Significant Accounting Policies The accounting policies of the Company are set forth in Note 1, Summary of Significant Accounting Policies , of the Consolidated Financial Statements in the Company’s Annual Report on Form 10-K for the year ended December 31, 2022. There has not been a material change to the Company’s accounting policies since that report, except as noted below. Foreign Currency

Revenue and Contracts with Cust

Revenue and Contracts with Customers	9 Months Ended
Revenue and Contracts with Customers	Sep. 30, 2023
Revenue from Contract with Customer [Abstract]
Revenue from Contract with Customer	REVENUE AND CONTRACTS WITH CUSTOMERS Disaggregation of Revenue The following table presents revenue from SWU and uranium sales disaggregated by geographical region based on the billing addresses of customers (in millions): Three Months Ended September 30, Nine Months Ended September 30, 2023 2022 2023 2022 United States $ 16.9 $ 7.4 $ 148.4 $ 27.3 Foreign 23.6 12.8 38.5 96.1 Revenue - SWU and uranium $ 40.5 $ 20.2 $ 186.9 $ 123.4 Refer to Note 13 , Segment Information, for disaggregation of revenue by segment. SWU sales are made primarily to electric utility customers and uranium sales are made primarily to other nuclear fuel related companies. Technical Solutions revenue resulted primarily from services provided to the U.S. government and its contractors. SWU and uranium revenue is recognized at a point in time and Technical Solutions revenue is generally recognized over time based on direct costs incurred or the right to invoice method (in situations where the value transferred matches the Company’s billing rights) as the customer receives and consumes the benefits. Accounts Receivable September 30, 2023 December 31, 2022 (in millions) Accounts receivable: Billed $ 2.1 $ 29.0 Unbilled * 7.3 9.1 Accounts receivable $ 9.4 $ 38.1 * Billings under certain contracts in the Technical Solutions segment are invoiced based on approved provisional billing rates. Unbilled revenue represents the difference between actual costs incurred and invoiced amounts. The Company expects to invoice and collect the unbilled amounts after actual rates are submitted to the customer and approved. Unbilled revenue also includes unconditional rights to payment that are not yet billable under applicable contracts pending the compilation of supporting documentation. Contract Liabilities The following table presents changes in contract liability balances (in millions): September 30, December 31, Year-To-Date Change Accrued loss on HALEU Operation Contract: Current - Accounts payable and accrued liabilities $ 3.3 $ 20.0 $ (16.7) Deferred revenue - current $ 242.5 $ 258.4 $ (15.9) Advances from customers - current $ 30.2 $ 14.8 $ 15.4 Advances from customers - noncurrent $ 32.8 $ 46.2 $ (13.4) Previously deferred sales and advances from customers recognized in revenue totaled $23.6 million and $59.7 million in the nine months ended September 30, 2023 and 2022, respectively. LEU Segment The SWU component of LEU typically is bought and sold under contracts with deliveries over several years. The Company’s agreements for natural uranium hexafluoride and uranium concentrate sales generally are shorter-term, fixed-commitment contracts. The Company’s sales under contract in the Order Book extend to 2030. As of September 30, 2023 and December 31, 2022, the Order Book was approximately $1.0 billion. The Order Book represents the estimated aggregate dollar amount of revenue for future SWU and uranium deliveries under contract and includes approximately $306 million and $319 million of Deferred Revenue and Advances from Customers at September 30, 2023 and December 31, 2022, respectively . Most of the Company’s customer contracts provide for fixed purchases of SWU during a given year. T he Company’s Order Book is partially based on customers’ estimates of the timing and size of their fuel requirements and other assumptions that are subject to change. For example, depending on the terms of specific contracts, the customer may be able to increase or decrease the quantity delivered within an agreed range. T he Company’s Order Book estimate also is based on the Company’s estimates of selling prices, which may be subject to change. For example, depending on the terms of specific contracts, prices may be adjusted based on escalation using a general inflation index, published SWU price indicators prevailing at the time of delivery, and other factors, all of which are variable. T he Company uses external composite forecasts of future market prices and inflation rates in its pricing estimates. Technical Solutions Segment Revenue for the Technical Solutions segment, representing the Company’s technical, manufacturing, engineering, procurement, construction, and operations services offered to public and private sector customers, is recognized over the contractual period as services are rendered. In 2019, the Company entered into a cost-share contract with the DOE, the HALEU Demonstration Contract, to deploy a cascade of centrifuges to demonstrate production of HALEU for advanced reactors. The DOE agreed to reimburse the Company for 80% of its costs incurred in performing the contract. The DOE modified the contract several times to increase the total contract funding to $173.0 million and to extend the period of performance to November 30, 2022. The impact to Cost of Sales in the nine months ended September 30, 2023 and 2022, is $0 and $0.5 million, respectively, for previously accrued contract losses attributable to work performed in the periods. As of September 30, 2023, a total of $19.6 million of previously accrued contract losses have been realized and the accrued contract loss balance included in Accounts Payable and Accrued Liabilities as of September 30, 2023 and December 31, 2022 is $0. The Company has recorded revenue up to the funded amount of $173.0 million and received aggregate cash payments under the HALEU Demonstration Contract of $171.2 million through September 30, 2023. In 2022, DOE elected to move the operational portion of the HALEU demonstration to a subsequent, competitively awarded contract that allows for a much longer period of operation than would have been possible under the original contract. On November 10, 2022, after a competitive solicitation, the DOE awarded the HALEU Operation Contract to the Company and work began on December 1, 2022. The base contract value is approximately $150 million in two phases through 2024. Phase 1 includes an approximately $30 million cost share contribution from Centrus matched by approximately $30 million from the DOE to complete construction of the cascade, begin operations and produce the initial 20 kilograms of HALEU UF 6 by no later than December 31, 2023. On October 11, 2023, the Company announced that it began enrichment operations in Piketon, Ohio. On November 7, 2023, the Company announced that it made its first delivery of HALEU to the DOE, completing Phase 1 by successfully demonstrating its HALEU production process. Phase 2 of the HALEU Operation Contract includes continued operations and maintenance, and production for a full year at an annual production rate of 900 kilograms of HALEU UF 6 . The DOE will own the HALEU produced from the demonstration cascade and Centrus will be compensated on a cost-plus-incentive-fee basis, with an expected Phase 2 contract value of approximately $90 million, subject to Congressional appropriations. The HALEU Operation Contract also gives DOE options to pay for up to nine additional years of production from the cascade beyond the base contract; those options are at the DOE’s sole discretion and subject to the availability of Congressional appropriations. Under the HALEU Operation Contract, DOE is obligated to provide the 5B cylinders necessary to collect the output of the cascade, but supply chain challenges have created difficulties for DOE in securing enough 5B cylinders for the entire year. Centrus’ delivery of the 900 kilograms is subject to the ability of DOE to provide the 5B cylinders on a timeline that allows for continuous production throughout the year. Centrus anticipates that any potential bottleneck in obtaining 5B cylinders will be temporary and that the supply chain for the 5B cylinders will ramp up over time now that HALEU production is under way. To support the DOE in mitigating the risk of delayed delivery of 5B cylinders, the Company received technical direction from the DOE to procure compliant 5B cylinders and components while the contractual obligation to furnish compliant 5B cylinders under the HALEU Operation Contract continues to rest with the DOE. The Company is also performing additional work on infrastructure and facility repairs under DOE’s technical direction. On September 28, 2023, the DOE modified the HALEU Operation Contract to incorporate additional scope, which are not subject to cost-share, for infrastructure and facility repairs, and costs associated with 5B cylinder refurbishment, for an estimated additional contract value of $5.8 million. On October 19, 2023, the DOE provided additional funding of $5.5 million for the additional scope under the HALEU Operation Contract. The impact to Cost of Sales in the three and nine months ended September 30, 2023 is $5.4 million and $16.7 million, respectively, for previously accrued contract losses attributable to work performed in the period. As of September 30, 2023, a total of $18.0 million of previously accrued contract losses has been realized. At September 30, 2023 and December 31, 2022, the remaining accrued contract loss balance of $3.3 million and $20.0 million, respectively, is included in Accounts Payable and Accrued Liabilities . The HALEU Operation Contract is funded incrementally and the DOE currently is obligated for costs up to approximately $38.8 million of the $125.9 million estimated transaction price for Phase 1, Phase 2, and additional scope work. The Company has received aggregate cash payments under the HALEU Operation Contract of $22.1 million through September 30, 2023. The Company does not have a contractual obligation to perform work in excess of the funding provided by the DOE. If the DOE does not commit to additional costs above the existing funding, the Company may incur material additional costs or losses in future periods that could have an adverse impact on its financial condition and liquidity.

Cash, Cash Equivalents and Rest

Cash, Cash Equivalents and Restricted Cash	9 Months Ended
Cash, Cash Equivalents and Restricted Cash	Sep. 30, 2023
Cash, Cash Equivalents and Restricted Cash [Abstract]
Cash and Cash Equivalents Disclosure	CASH, CASH EQUIVALENTS AND RESTRICTED CASH The following table reconciles the Company’s cash, cash equivalents and restricted cash as presented on the Consolidated Balance Sheets to amounts on the Consolidated Statements of Cash Flows (in millions): September 30, 2023 December 31, 2022 Cash and cash equivalents $ 183.3 $ 179.9 Deposits for financial assurance - current (a) 0.2 0.2 Deposits for financial assurance - noncurrent 32.3 32.3 Total cash, cash equivalents and restricted cash $ 215.8 $ 212.4 (a) Deposits for financial assurance - current is included within Other Current Assets in the Consolidated Balance Sheets. The Company has $14.3 million denominated in euros as of September 30, 2023 and recorded $0.6 million in transaction losses in the three and nine months ended September 30, 2023. The following table provides additional detail regarding the Company’s deposits for financial assurance (in millions): September 30, 2023 December 31, 2022 Current Long-Term Current Long-Term Collateral for Inventory Loans $ — $ 29.8 $ — $ 29.8 Workers Compensation — 2.4 — 2.4 Other 0.2 0.1 0.2 0.1 Total deposits for financial assurance $ 0.2 $ 32.3 $ 0.2 $ 32.3 The Company has provided financial assurance to states in which it was previously self-insured for workers’ compensation in accordance with each state’s requirements in the form of a surety bond or deposit that is fully cash collateralized by Centrus. Each surety bond or deposit is subject to reduction and/or cancellation, as each state determines the likely reduction of workers’ compensation obligations pertaining to the period of self-insurance. In March, May, and October 2022, the Company entered into three inventory loans that each required a cash deposit into an escrow fund. See Note 4 , Inventories.

Inventories

Inventories	9 Months Ended
Inventories	Sep. 30, 2023
Inventory, Net [Abstract]
Inventories	INVENTORIES Centrus holds uranium at licensed locations (e.g., fabricators) in the form of natural uranium hexafluoride and as the uranium component of LEU in transit to meet book transfer requests by customers and suppliers. Centrus also holds SWU as the SWU component of LEU at licensed locations or in transit to meet book transfer requests by customers and suppliers. Fabricators process LEU into fuel for use in nuclear reactors. Components of inventories are as follows (in millions): September 30, 2023 December 31, 2022 Current Current Inventories, Net Current Current Inventories, Net Separative work units $ 25.3 $ — $ 25.3 $ 24.1 $ — $ 24.1 Uranium 185.5 0.4 185.1 185.1 60.8 124.3 Total $ 210.8 $ 0.4 $ 210.4 $ 209.2 $ 60.8 $ 148.4 (a) This includes inventories owed to suppliers for advances of uranium. Inventories are valued at the lower of cost or net realizable value. The Company also may borrow SWU or uranium from customers or suppliers, in which case the Company will record the SWU and/or uranium and the related liability for the borrowing using a projected and forecasted purchase price over the borrowing period. In March 2023, the Company borrowed UF 6 which was recorded to inventory at a value of $22.5 million. The inventory value was recorded based on the estimated fair market value of the inventory on the date of borrowing. The Company performs quarterly revaluations of the Long-Term Inventory Loans reflecting an updated projection of the timing and sources of inventory to be used for repayment. These revaluations were recorded to Cost of Sales and resulted in an increase to the related liability of $0.6 million and $3.5 million, for the three and nine months ended September 30, 2023, respectively, and $0 and $5.5 million for the three and nine months ended September 30, 2022, respectively. At September 30, 2023, the total liability of borrowed inventory was $84.6 million, of which $74.7 million was recorded in Long-Term Inventory Loans and $9.9 million was recorded in Accounts Payable and Accrued Liabilities . At December 31, 2022, the total liability of borrowed inventory was $58.6 million, of which $48.7 million was recorded in Long-Term Inventory Loans and $9.9 million was recorded in Accounts Payable and Accrued Liabilities .

Intangible Assets

Intangible Assets	9 Months Ended
Intangible Assets	Sep. 30, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Intangible Assets	INTANGIBLE ASSETS Intangible assets originated from the Company’s reorganization and application of fresh start accounting as of the date the Company emerged from bankruptcy, September 30, 2014, and reflect the conditions at that time. The intangible asset related to the Company’s sales Order Book is amortized as the Order Book, existing at emergence, is reduced, principally as a result of deliveries to customers. The intangible asset related to customer relationships is amortized using the straight-line method over the estimated average useful life of 15 years. Amortization expense is presented below gross profit on the Consolidated Statements of Operations and Comprehensive Income. Intangible asset balances are as follows (in millions): September 30, 2023 December 31, 2022 Gross Carrying Amount Accumulated Amortization Net Amount Gross Carrying Amount Accumulated Amortization Net Amount Sales order book $ 54.6 $ 40.7 $ 13.9 $ 54.6 $ 39.9 $ 14.7 Customer relationships 68.9 41.3 27.6 68.9 37.9 31.0 Total $ 123.5 $ 82.0 $ 41.5 $ 123.5 $ 77.8 $ 45.7

Debt

Debt	9 Months Ended
Debt	Sep. 30, 2023
Debt Disclosure [Abstract]
Debt	DEBT A summary of debt is as follows (in millions): September 30, 2023 December 31, 2022 Maturity Current Long-Term Current Long-Term 8.25% Notes: Feb. 2027 Principal $ — $ 74.3 $ — $ 74.3 Interest 6.1 15.3 6.1 21.4 Total $ 6.1 $ 89.6 $ 6.1 $ 95.7 Interest on the Company’s 8.25% Notes is payable semi-annually in arrears as of February 28 and August 31 based on a 360-day year consisting of twelve 30-day months. The 8.25% Notes were issued in connection with a troubled debt restructuring; therefore, all future interest payment obligations on the 8.25% Notes are included in the carrying value of the 8.25% Notes. As a result, interest payments are reported as a reduction in the carrying value of the 8.25% Notes and not as interest expense. As of September 30, 2023 and December 31, 2022, $6.1 million of interest was recorded as current and classified as Current Debt in the Consolidated Balance Sheets. Additional terms and conditions of the 8.25% Notes are described in Note 8 , Debt

Fair Value Measurements

Fair Value Measurements	9 Months Ended
Fair Value Measurements	Sep. 30, 2023
Fair Value Disclosures [Abstract]
Fair Value Measurements	FAIR VALUE Fair value is the price that would be received from selling an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. When determining the fair value of assets and liabilities, the following hierarchy is used in selecting inputs, with the highest priority given to Level 1, as these are the most transparent or reliable: • Level 1 assets include investments with quoted prices in active markets that the Company has the ability to liquidate as of the reporting date. • Level 2 assets include investments in U.S. government agency securities, corporate and municipal debt whose estimates are valued based on observable inputs, other than quoted prices. • Level 3 assets include investments with unobservable inputs, such as third-party valuations, due to little or no market activity. Financial Instruments Recorded at Fair Value (in millions): September 30, 2023 December 31, 2022 Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total Assets: Cash and cash equivalents $ 183.3 $ — $ — $ 183.3 $ 179.9 $ — $ — $ 179.9 Deferred compensation asset (a) 3.0 — — 3.0 2.4 — — 2.4 Liabilities: Deferred compensation obligation (a) $ 3.0 $ — $ — $ 3.0 $ 2.4 $ — $ — $ 2.4 (a) The deferred compensation obligation represents the balance of deferred compensation plus net investment earnings. The deferred compensation plan is funded through a rabbi trust. Trust funds are invested in mutual funds for which unit prices are quoted in active markets and are classified within Level 1 of the valuation hierarchy. There were no transfers between Level 1, 2 or 3 during the periods presented. Other Financial Instruments As of September 30, 2023, and December 31, 2022, the Consolidated Balance Sheets carrying amounts for Accounts Receivable , Accounts Payable and Accrued Liabilities (excluding the deferred compensation obligation described above), and Payables under Inventory Purchase Agreements approximate fair value because of their short-term nature. The carrying value and estimated fair value of long-term debt were as follows (in millions): September 30, 2023 December 31, 2022 Carrying Value Estimated Fair Value (a) Carrying Value Estimated Fair Value (a) 8.25% Notes $ 95.7 (b) $ 71.0 $ 101.8 (b) $ 68.8 (a) Based on bid/ask quotes as of or near the balance sheet date, which are considered Level 2 inputs based on the frequency of trading. (b) The carrying value of the 8.25% Notes consists of the principal balance of $74.3 million and the sum of current and noncurrent interest payment obligations until maturity. Refer to Note 6 , Debt

Pension and Postretirement Heal

Pension and Postretirement Health and Life Benefits	9 Months Ended
Pension and Postretirement Health and Life Benefits	Sep. 30, 2023
Retirement Benefits, Description [Abstract]
Pension and Postretirement Health and Life Benefits	PENSION AND POSTRETIREMENT HEALTH AND LIFE BENEFITS The Company provides retirement benefits to certain employees and retirees under two qualified defined benefit pension plans, one postretirement health and life benefit plan and two disqualified plans. The components of net periodic benefit costs (credits) for the defined benefit pension plans were as follows (in millions): Three Months Ended Nine Months Ended 2023 2022 2023 2022 Service costs $ 0.7 $ 0.7 $ 2.2 $ 2.0 Interest costs 6.9 4.7 20.8 14.3 Amortization of prior service costs (credits), net — (0.1) (0.1) (0.2) Remeasurement gain (0.9) — (0.9) — Expected return on plan assets (gains) (7.7) (8.9) (23.2) (26.7) Net periodic benefit costs (credits) $ (1.0) $ (3.6) $ (1.2) $ (10.6) The components of net periodic benefit costs for the postretirement health and life benefit plan were as follows (in millions): Three Months Ended Nine Months Ended 2023 2022 2023 2022 Interest costs $ 1.2 $ 0.9 $ 3.7 $ 2.7 Amortization of prior service costs (credits), net (0.1) — (0.1) (0.1) Net periodic benefit costs $ 1.1 $ 0.9 $ 3.6 $ 2.6 The Company reports service costs for its defined benefit pension plans and its postretirement health and life benefit plans in Cost of Sales and Selling, General and Administrative Expenses . The remaining components of net periodic benefit (credits) costs are reported as Nonoperating Components of Net Periodic Benefit Loss (Income).

Net Income Per Share

Net Income Per Share	9 Months Ended
Net Income Per Share	Sep. 30, 2023
Earnings Per Share [Abstract]
Net Income (Loss) Per Share	NET INCOME (LOSS) PER SHARE Basic net income (loss) per share is calculated by dividing net income (loss) by the weighted average number of shares of common stock outstanding during the period. In calculating diluted net income (loss) per share, the number of shares is increased by the weighted average number of potential common shares related to stock compensation awards including restricted stock, stock options, stock appreciation rights and notional stock units, and the warrant. No dilutive effect is recognized in a period in which a net loss has occurred. The weighted average number of common and common equivalent shares used in the calculation of basic and diluted income (loss) per share are as follows: Three Months Ended Nine Months Ended 2023 2022 2023 2022 Numerator (in millions): Net income (loss) $ 8.2 $ (6.1) $ 28.1 $ 30.9 Denominator (in thousands): Average common shares outstanding - basic 15,374 14,623 15,127 14,586 Potentially dilutive shares related to stock compensation awards and warrant 252 — 288 388 Average common shares outstanding - diluted 15,626 14,623 15,415 14,974 Net income (loss) per share (in dollars): Basic $ 0.53 $ (0.42) $ 1.86 $ 2.12 Diluted $ 0.52 $ (0.42) $ 1.82 $ 2.06 Common stock equivalents excluded from the diluted calculation because they would have been antidilutive (in thousands) — 401 1 —

Stockholders' Equity

Stockholders' Equity	9 Months Ended
Stockholders' Equity	Sep. 30, 2023
Equity, Attributable to Parent [Abstract]
Stockholders' Equity Note Disclosure [Text Block]	STOCKHOLDERS’ EQUITY Common Stock Issuance Pursuant to a sales agreement with its agents, the Company sold, through its ATM offering at the market price, an aggregate of 722,568 shares of its Class A Common Stock in the three months ended March 31, 2023, for a total of $24.4 million. After expenses and commissions paid to the agents, the Company’s proceeds totaled $23.4 million. Additionally, the Company recorded direct costs of $0.2 million related to the issuance. The shares of Class A Common Stock were issued pursuant to the Company’s shelf registration statement on Form S-3 (File No. 333-239242), which became effective on August 5, 2020, and two prospectus supplements dated December 31, 2020 and December 5, 2022, respectively. The Company has used and/or intends to use the net proceeds from this offering for working capital and general corporate purposes including, but not limited to, capital expenditures, working capital, investment in technology development and deployment, repayment of indebtedness, potential acquisitions and other business opportunities. There were no sales of Class A Common Stock through the ATM offering in the three months ended September 30, 2023 or the nine months ended September 30, 2022. 2023 Shelf Registration The Company filed a shelf registration statement on Form S-3 (Registration Statement No. 333-272984) with the SEC on June 28, 2023, which became effective on July 10, 2023. Pursuant to this shelf registration statement, the Company may offer and sell up to $200 million in securities, in aggregate. The Company retains broad discretion over the use of the net proceeds from the sale of the securities offered. Unless otherwise specified in any prospectus supplement, we currently intend to use the net proceeds from the sale of our securities offered under this prospectus for working capital and general corporate purposes including, but not limited to, capital expenditures, working capital, repayment of indebtedness, potential acquisitions and other business opportunities. Pending any specific application, we may initially invest funds in short-term marketable securities or apply them to the reduction of indebtedness. Rights Agreement On June 20, 2023, the Company entered into a Fifth Amendment to the Rights Agreement, which amends the Rights Agreement, dated as of April 6, 2016, by and among the Company, and Computershare Trust Company, N.A. and Computershare Inc., as rights agent, as amended by (i) the First Amendment to the Rights Agreement dated as of February 14, 2017, (ii) the Second Amendment to the Rights Agreement dated as of April 3, 2019, (iii) the Third Amendment to the Rights Agreement dated as of April 13, 2020, and (iv) the Fourth Amendment to the Rights Agreement dated as of June 16, 2021. The Fifth Amendment to the Rights Agreement (i) increases the purchase price for each one one-thousandth (1/1000th) of a share of the Company’s Series A Participating Cumulative Preferred Stock, par value $1.00 per share, from $18.00 to $160.38; and (ii) extends the Final Expiration Date (as defined in the Rights Agreement) from June 30, 2023 to June 30, 2026. The Fifth Amendment was not adopted as a result of, or in response to, any effort to acquire control of the Company. The Fifth Amendment has been adopted in order to preserve for the Company’s stockholders the long-term value of the Company’s net operating loss carry-forwards for United States federal income tax purposes and other tax benefits. Awards under Executive Incentive Plan Notional stock units are a component of the 2019 Executive Incentive Plan for participating executives for the three-year period ending December 31, 2021. The plan payouts were settled in Class A Common Stock in April 2021 and March 2022. In April 2020, notional stock units and SARs were granted to participating executives with a vesting period ending in April 2023. These awards were initially determined to be likely settled in cash, and compensation cost for the notional stock units and SARs were re-measured each reporting period based on the trading price of the Company’s Class A Common Stock and the cumulative vested costs were accrued in Accounts Payable and Accrued Liabilities or Other Long-Term Liabilities . In February 2022, the Compensation, Nominating and Governance Committee of the Board determined that remaining notional stock units granted in 2019 and 2020 would be paid in shares of the Company’s Class A Common Stock. The related obligation of $10.6 million was reclassified from Accounts Payable and Accrued Liabilities to Excess of Capital over Par Value in the first quarter of 2022 based on the market share price at the time of the Board’s decision. In the first quarter of 2022, the Company withheld $1.9 million of shares that vested during the period for the purpose of funding the grantees’ tax withholding obligations under the terms of the stock-based compensation plan. In March 2022, restricted stock was granted to participating executives with a vesting period ending in March 2025. In March 2023, restricted stock was granted to participating executives with a vesting period ending in March 2026. The March 2022 and 2023 awards are payable in shares of the Company’s Class A Common Stock subject to achieving a threshold level of cumulative net income over the vesting period. The grant-date fair value is included in Excess of Capital Over Par Value as the value is amortized over the vesting period.

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
Commitments and Contingencies	Sep. 30, 2023
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	COMMITMENTS AND CONTINGENCIES Commitments under SWU Purchase Agreements TENEX The Russian government-owned entity TENEX is a major supplier of SWU to the Company. Under the 2011 TENEX Supply Contract, the Company purchases SWU contained in LEU received from TENEX, and the Company delivers natural uranium hexafluoride to TENEX for the LEU’s uranium component. The LEU that the Company obtains from TENEX is subject to quotas under the RSA and U.S. legislation adopted in 2020 and to other restrictions applicable to commercial Russian LEU. Further, the ability of the Company or TENEX to perform under the TENEX Supply Contract is subject to (i) sanctions or restrictions that might be imposed by Russia, the United States, or other countries as a result of the war in Ukraine, or otherwise, (ii) customers and other parties who may object to receiving or handling Russian LEU or SWU, or (iii) suppliers and service providers seeking to limit their involvement with business related to Russia. The TENEX Supply Contract originally was signed with commitments through 2022, but was modified in 2015 to give the Company the right to reschedule certain quantities of SWU of the original commitments into the period 2023 and beyond, in return for the purchase of additional SWU in those years. The Company has exercised this right to reschedule in each year through December 31, 2022. As a result of exercising this right to reschedule, the Company has purchase commitments that could extend through 2028. The TENEX Supply Contract provides that the Company must pay for all SWU in its minimum purchase obligation each year, even if it fails to submit orders for such SWU. In such a case, the Company would pay for the SWU, but have to take the unordered SWU in the following year. Pricing terms for SWU under the TENEX Supply Contract are based on a combination of market-related price points and other factors. This formula was subject to an adjustment at the end of 2018 that reduced the unit costs of SWU under this contract in 2019 and for the duration of the contract. Orano In 2018, the Company entered into the Orano Supply Agreement with a French company, Orano Cycle, for the long-term supply of SWU contained in LEU. The Orano Supply Agreement subsequently was assigned by Orano Cycle to its affiliate, Orano CE. Under the amended Orano Supply Agreement, the supply of SWU runs through 2030. The Orano Supply Agreement provides significant flexibility to adjust purchase volumes, subject to annual minimums and maximums in fixed amounts that vary year by year. The pricing for the SWU purchased by the Company is determined by a formula that uses a combination of market-related price points and other factors and is subject to certain floors and ceilings. Milestones Under the 2002 DOE-USEC Agreement The Company’s predecessor, USEC Inc., and DOE signed the 2002 DOE-USEC Agreement dated June 17, 2002, pursuant to which the parties made long-term commitments directed at resolving issues related to the stability and security of the domestic uranium enrichment industry. The 2002 DOE-USEC Agreement requires Centrus to develop, demonstrate and deploy advanced enrichment technology in accordance with milestones, including the deployment of a commercial American Centrifuge Plant, and provides for remedies in the event of a failure to meet a milestone under certain circumstances, including terminating the 2002 DOE-USEC Agreement, revoking Centrus’ access to DOE’s centrifuge technology that is required for the success of the Company’s ongoing work with the American Centrifuge technology, requiring Centrus to transfer certain rights in the American Centrifuge technology and facilities to DOE, and requiring Centrus to reimburse DOE for certain costs associated with the American Centrifuge technology. The 2002 DOE-USEC Agreement provides that if a delaying event beyond the control and without the fault or negligence of Centrus occurs that could affect Centrus’ ability to meet the American Centrifuge Plant milestones under the 2002 DOE-USEC Agreement, DOE and the Company will jointly meet to discuss in good faith possible adjustments to the milestones as appropriate to accommodate the delaying event. In 2014, the 2002 DOE-USEC Agreement and other agreements between the Company and DOE were assumed by Centrus subject to an express reservation of all rights, remedies and defenses by DOE and the Company under those agreements. DOE and the Company have agreed that all rights, remedies and defenses of the parties with respect to any missed milestones and all other matters under the 2002 DOE-USEC Agreement continue to be preserved, and that the time limits for each party to respond to any missed milestones continue to be tolled. Legal Matters From time to time, the Company is involved in various pending legal proceedings, including the pending legal proceedings described below. In 1993, USEC-Government entered into a lease for the Paducah and Portsmouth GDPs with the DOE. As part of that lease, DOE and USEC-Government also entered into a Power MOU regarding power purchase agreements between DOE and the providers of power to the GDPs. Under the Power MOU, DOE and USEC-Government agreed upon the allocation of rights and liabilities under the power purchase agreements. In 1998, USEC-Government was privatized and became Enrichment Corp., now a principal subsidiary of the Company. Pursuant to legislation authorizing the privatization, the lease for the GDPs, which included the Power MOU as an Appendix, was transferred to Enrichment Corp., and Enrichment Corp. was given the right to purchase power from DOE. The Paducah GDP was shut down in 2013 and deleased by Enrichment Corp. in 2014. On August 4, 2021, DOE informally informed Enrichment Corp. that the Joppa power plant, which had supplied power to the Paducah GDP, was planned to undergo D&D. According to DOE, the power purchase agreement with Electric Energy Inc. requires DOE to pay for a portion of the D&D costs of the Joppa power plant, and DOE has asserted that a portion of the DOE liability is the responsibility of Enrichment Corp. under the Power MOU in the amount of approximately $9.6 million. The Company is assessing DOE’s assertions including whether all or a portion of any such potential liability had been previously settled. The Company has not formed an opinion on the merits of DOE’s claim nor is it able to estimate its potential liability, if any, for such claim and no expense or liability has been accrued. On May 26, 2019, the Company, Enrichment Corp., and six other DOE contractors who have operated facilities at the Portsmouth GDP in Piketon, Ohio (including, in the case of the Company, the American Centrifuge Plant site located on premises currently leased from DOE) were named as defendants in a class action complaint filed by Ursula McGlone, Jason McGlone, Julia Dunham, and K.D. and C.D., minor children by and through their parent and natural guardian Julia Dunham (collectively, the “McGlone Plaintiffs”) in the U.S. District Court in the Southern District of Ohio, Eastern Division. The complaint seeks damages for alleged off-site contamination allegedly resulting from activities on the Portsmouth GDP site. The McGlone Plaintiffs are seeking to represent a class of (i) all current or former residents within a seven-mile radius of the Portsmouth GDP site and (ii) all students and their parents at the Zahn’s Corner Middle School from 1993-present. Since its initial filing, the complaint has been amended four times, the latest of which was filed on March 18, 2021. Likewise, based on motions brought by the Company, Enrichment Corp. and the other DOE contractors, the court has dismissed ten of the fifteen claims and dismissed claims brought on behalf of the minor children. As such, the case continues in the discovery stage of litigation. The Company and Enrichment Corp. believe that its operations at the Portsmouth GDP site were fully in compliance with the NRC’s regulations. Further, the Company and Enrichment Corp. believe that any such liability should be indemnified by DOE under the Price-Anderson Act. The Company and Enrichment Corp. have provided notifications to DOE required to invoke indemnification under the Price-Anderson Act and other contractual provisions. On June 8, 2022, the Company, Enrichment Corp., and six other DOE contractors who operated facilities at the Portsmouth GDP were named as defendants in a complaint filed by Brad Allen Lykins, as administrator of the estate of Braden Aaron Lee Lykins in the U.S. District Court in the Southern District of Ohio, Eastern Division (“Lykins Complaint”). In March 2021, Brayden Lykins, who was thirteen years old, passed away from leukemia. The complaint alleges that the defendants released radiation into the environment in violation of the Price-Anderson Act causing Lykins’ death and seeks monetary damages. On August 30, 2022, the Company, Enrichment Corp., and the other defendants filed their answer to the Lykins Compliant. The Company and Enrichment Corp. believe that their operations at the Portsmouth GDP site were fully in compliance with the NRC’s regulations. Further, the Company and Enrichment Corp. believe that any such liability should be indemnified by DOE under the Price-Anderson Act. The Company and Enrichment Corp. have provided notifications to DOE required to invoke indemnification under the Price-Anderson Act and other contractual provisions. On March 8, 2023, the Company, Enrichment Corp., and six other DOE contractors who operated facilities at the Portsmouth GDP were named as defendants in a complaint filed by Christian C. Rose in the U.S. District Court in the Southern District of Ohio, Eastern Division (“Rose Complaint”). The Rose Complaint alleges that the defendants released radiation into the environment in violation of the Price-Anderson Act causing injuries and death and seeks monetary damages. On May 15, 2023, the Company, Enrichment Corp. and the other defendants filed their answers to the Rose Complaint. The Company and Enrichment Corp. believe that their operations at the Portsmouth GDP site were fully in compliance with the NRC’s regulations. Further, the Company and Enrichment Corp. believe that any such liability should be indemnified by DOE under the Price-Anderson Act. The Company and Enrichment Corp. have provided notifications to the DOE required to invoke indemnification under the Price-Anderson Act and other contractual provisions. Centrus is subject to various legal proceedings and claims, either asserted or unasserted, which arise in the ordinary course of business. While the outcome of these claims cannot be predicted with certainty, other than the above, Centrus does not believe that the outcome of any of these legal matters, individually and in the aggregate, will have a material adverse effect on its cash flows, results of operations, or consolidated financial condition.

Segment Information

Segment Information	9 Months Ended
Segment Information	Sep. 30, 2023
Segment Reporting Information, Revenue for Reportable Segment [Abstract]
Segment Information	SEGMENT INFORMATION Gross profit is the Company’s measure for segment reporting. There were no intersegment sales in the periods presented. Refer to Note 2 , Revenue and Contracts with Customers, for additional details on revenue for each segment. The following table presents the Company’s segment information (in millions): Three Months Ended Nine Months Ended 2023 2022 2023 2022 Revenue LEU segment: Separative work units $ 40.5 $ 7.7 $ 147.4 $ 106.0 Uranium — 12.5 39.5 17.4 Total 40.5 20.2 186.9 123.4 Technical Solutions segment 10.8 13.0 29.7 44.2 Total revenue $ 51.3 $ 33.2 $ 216.6 $ 167.6 Segment Gross Profit LEU segment $ 10.1 $ 1.3 $ 60.8 $ 63.6 Technical Solutions segment 1.2 1.0 1.5 5.9 Gross profit $ 11.3 $ 2.3 $ 62.3 $ 69.5 Revenue from Major Customers (10% or More of Total Revenue) In the three months ended September 30, 2023, three customers in the LEU segment individually represented $14.9 million, $12.5 million, and $8.7 million of revenue. In the nine months ended September 30, 2023, two customers in the LEU segment individually represented $54.1 million and $47.8 million of revenue. One customer in the Technical Solutions segment individually represented $10.7 million and $29.4 million of revenue in the three and nine months ended September 30, 2023, respectively.

Income Taxes

Income Taxes	9 Months Ended
Income Taxes	Sep. 30, 2023
Income Tax Disclosure [Abstract]
Income Taxes	INCOME TAXES Centrus follows the asset and liability approach to account for deferred taxes. Deferred tax assets and liabilities are recognized for the anticipated future tax consequences of temporary differences between the balance sheet carrying amounts of assets and liabilities and their respective tax bases. A valuation allowance is provided if it is more likely than not that all, or some portion, of the deferred tax assets may not be realized. The ultimate realization of the net deferred tax assets is dependent upon generating sufficient taxable income in future years when deferred tax assets are recoverable or are expected to reverse. Centrus evaluated both positive and negative evidence that was objectively verifiable to determine the amount of the federal valuation allowance that was required on Centrus’ federal deferred tax assets. Centrus has visibility on a significant portion of revenue in the LEU segment for 2023 through 2026, primarily from its long-term sales contracts. In the third quarter of 2023, Centrus released $7.7 million of the valuation allowance against federal net deferred taxes as a discrete item for the three months ended September 30, 2023. Centrus determined that the positive evidence of increased forecasted future income in the LEU segment based on existing sales Order Book and supply contracts along with commodity market forward pricing indicators, supported the release of the federal valuation allowance. However, due to lack of objectively verifiable information in later years, it was determined that forecasted future income was not sufficient to realize all the deferred tax assets. Therefore, Centrus recorded a partial release of its federal valuation allowance. Going forward, Centrus will continue to evaluate both positive and negative evidence that would support any further changes to the remaining valuation allowances. Such evidence in its technical solutions segment may include signing new contracts which could have a significant impact on pre-tax income, follow on-work related to the HALEU program, or abandonment of the commercial deployment of the centrifuge technology. Such evidence in our LEU segment may include renewing SWU sales contracts with existing customers and/or signing new SWU sales or purchase contracts with significantly higher or lower margins than currently forecasted. Additional evidence in the LEU segment may include potential deferrals in the timing of deliveries requested by its customers, which would impact revenue recognition timing. The impact of these and other potential positive and negative events will be weighed and evaluated to determine if the valuation allowance should be increased or decreased in the future.

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Millions	3 Months Ended						9 Months Ended
Pay vs Performance Disclosure - USD ($) $ in Millions	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Sep. 30, 2023	Sep. 30, 2022
Pay vs Performance Disclosure
Net income (loss)	$ 8.2	$ 12.7	$ 7.2	$ (6.1)	$ 37.4	$ (0.4)	$ 28.1	$ 30.9

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
Insider Trading Arrangements	Sep. 30, 2023
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Revenue and Contracts with Cu_2

Revenue and Contracts with Customers (Tables)	9 Months Ended
Revenue and Contracts with Customers (Tables)	Sep. 30, 2023
Revenue from Contract with Customer [Abstract]
Revenue from External Customers by Geographic Areas	The following table presents revenue from SWU and uranium sales disaggregated by geographical region based on the billing addresses of customers (in millions): Three Months Ended September 30, Nine Months Ended September 30, 2023 2022 2023 2022 United States $ 16.9 $ 7.4 $ 148.4 $ 27.3 Foreign 23.6 12.8 38.5 96.1 Revenue - SWU and uranium $ 40.5 $ 20.2 $ 186.9 $ 123.4
Contract with Customer, Asset and Liability	September 30, 2023 December 31, 2022 (in millions) Accounts receivable: Billed $ 2.1 $ 29.0 Unbilled * 7.3 9.1 Accounts receivable $ 9.4 $ 38.1 * Billings under certain contracts in the Technical Solutions segment are invoiced based on approved provisional billing rates. Unbilled revenue represents the difference between actual costs incurred and invoiced amounts. The Company expects to invoice and collect the unbilled amounts after actual rates are submitted to the customer and approved. Unbilled revenue also includes unconditional rights to payment that are not yet billable under applicable contracts pending the compilation of supporting documentation. September 30, December 31, Year-To-Date Change Accrued loss on HALEU Operation Contract: Current - Accounts payable and accrued liabilities $ 3.3 $ 20.0 $ (16.7) Deferred revenue - current $ 242.5 $ 258.4 $ (15.9) Advances from customers - current $ 30.2 $ 14.8 $ 15.4 Advances from customers - noncurrent $ 32.8 $ 46.2 $ (13.4)

Cash, Cash Equivalents and Re_2

Cash, Cash Equivalents and Restricted Cash (Tables)	9 Months Ended
Cash, Cash Equivalents and Restricted Cash (Tables)	Sep. 30, 2023
Cash, Cash Equivalents and Restricted Cash [Abstract]
Schedule of Cash and Cash Equivalents	The following table reconciles the Company’s cash, cash equivalents and restricted cash as presented on the Consolidated Balance Sheets to amounts on the Consolidated Statements of Cash Flows (in millions): September 30, 2023 December 31, 2022 Cash and cash equivalents $ 183.3 $ 179.9 Deposits for financial assurance - current (a) 0.2 0.2 Deposits for financial assurance - noncurrent 32.3 32.3 Total cash, cash equivalents and restricted cash $ 215.8 $ 212.4
Schedule of Restricted Cash and Cash Equivalents	The following table provides additional detail regarding the Company’s deposits for financial assurance (in millions): September 30, 2023 December 31, 2022 Current Long-Term Current Long-Term Collateral for Inventory Loans $ — $ 29.8 $ — $ 29.8 Workers Compensation — 2.4 — 2.4 Other 0.2 0.1 0.2 0.1 Total deposits for financial assurance $ 0.2 $ 32.3 $ 0.2 $ 32.3

Inventories (Tables)

Inventories (Tables)	9 Months Ended
Inventories (Tables)	Sep. 30, 2023
Inventory, Net [Abstract]
Schedule of Inventories	Components of inventories are as follows (in millions): September 30, 2023 December 31, 2022 Current Current Inventories, Net Current Current Inventories, Net Separative work units $ 25.3 $ — $ 25.3 $ 24.1 $ — $ 24.1 Uranium 185.5 0.4 185.1 185.1 60.8 124.3 Total $ 210.8 $ 0.4 $ 210.4 $ 209.2 $ 60.8 $ 148.4

Intangible Assets (Tables)

Intangible Assets (Tables)	9 Months Ended
Intangible Assets (Tables)	Sep. 30, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Intangible Assets and Excess Reorganization Value [Table Text Block]	Intangible asset balances are as follows (in millions): September 30, 2023 December 31, 2022 Gross Carrying Amount Accumulated Amortization Net Amount Gross Carrying Amount Accumulated Amortization Net Amount Sales order book $ 54.6 $ 40.7 $ 13.9 $ 54.6 $ 39.9 $ 14.7 Customer relationships 68.9 41.3 27.6 68.9 37.9 31.0 Total $ 123.5 $ 82.0 $ 41.5 $ 123.5 $ 77.8 $ 45.7

Debt Schedule of Debt (Tables)

Debt Schedule of Debt (Tables)	9 Months Ended
Debt Schedule of Debt (Tables)	Sep. 30, 2023
Debt Disclosure [Abstract]
Schedule of Debt	A summary of debt is as follows (in millions): September 30, 2023 December 31, 2022 Maturity Current Long-Term Current Long-Term 8.25% Notes: Feb. 2027 Principal $ — $ 74.3 $ — $ 74.3 Interest 6.1 15.3 6.1 21.4 Total $ 6.1 $ 89.6 $ 6.1 $ 95.7

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	9 Months Ended
Fair Value Measurements (Tables)	Sep. 30, 2023
Fair Value Disclosures [Abstract]
Schedule of Financial Instruments Recorded at Fair Value	Financial Instruments Recorded at Fair Value (in millions): September 30, 2023 December 31, 2022 Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total Assets: Cash and cash equivalents $ 183.3 $ — $ — $ 183.3 $ 179.9 $ — $ — $ 179.9 Deferred compensation asset (a) 3.0 — — 3.0 2.4 — — 2.4 Liabilities: Deferred compensation obligation (a) $ 3.0 $ — $ — $ 3.0 $ 2.4 $ — $ — $ 2.4
Fair Value Option, Disclosures	The carrying value and estimated fair value of long-term debt were as follows (in millions): September 30, 2023 December 31, 2022 Carrying Value Estimated Fair Value (a) Carrying Value Estimated Fair Value (a) 8.25% Notes $ 95.7 (b) $ 71.0 $ 101.8 (b) $ 68.8 (a) Based on bid/ask quotes as of or near the balance sheet date, which are considered Level 2 inputs based on the frequency of trading. (b) The carrying value of the 8.25% Notes consists of the principal balance of $74.3 million and the sum of current and noncurrent interest payment obligations until maturity. Refer to Note 6 , Debt

Pension and Postretirement He_2

Pension and Postretirement Health and Life Benefits (Tables)	9 Months Ended
	Sep. 30, 2023
Defined Benefit Plan Disclosure [Line Items]
Schedule of Net Benefit Costs [Table Text Block]	The components of net periodic benefit costs (credits) for the defined benefit pension plans were as follows (in millions): Three Months Ended Nine Months Ended 2023 2022 2023 2022 Service costs $ 0.7 $ 0.7 $ 2.2 $ 2.0 Interest costs 6.9 4.7 20.8 14.3 Amortization of prior service costs (credits), net — (0.1) (0.1) (0.2) Remeasurement gain (0.9) — (0.9) — Expected return on plan assets (gains) (7.7) (8.9) (23.2) (26.7) Net periodic benefit costs (credits) $ (1.0) $ (3.6) $ (1.2) $ (10.6) The components of net periodic benefit costs for the postretirement health and life benefit plan were as follows (in millions): Three Months Ended Nine Months Ended 2023 2022 2023 2022 Interest costs $ 1.2 $ 0.9 $ 3.7 $ 2.7 Amortization of prior service costs (credits), net (0.1) — (0.1) (0.1) Net periodic benefit costs $ 1.1 $ 0.9 $ 3.6 $ 2.6

Net Income Per Share (Tables)

Net Income Per Share (Tables)	9 Months Ended
Net Income Per Share (Tables)	Sep. 30, 2023
Earnings Per Share [Abstract]
Schedule of Net Income Per Share	The weighted average number of common and common equivalent shares used in the calculation of basic and diluted income (loss) per share are as follows: Three Months Ended Nine Months Ended 2023 2022 2023 2022 Numerator (in millions): Net income (loss) $ 8.2 $ (6.1) $ 28.1 $ 30.9 Denominator (in thousands): Average common shares outstanding - basic 15,374 14,623 15,127 14,586 Potentially dilutive shares related to stock compensation awards and warrant 252 — 288 388 Average common shares outstanding - diluted 15,626 14,623 15,415 14,974 Net income (loss) per share (in dollars): Basic $ 0.53 $ (0.42) $ 1.86 $ 2.12 Diluted $ 0.52 $ (0.42) $ 1.82 $ 2.06 Common stock equivalents excluded from the diluted calculation because they would have been antidilutive (in thousands) — 401 1 —

Segment Information (Tables)

Segment Information (Tables)	9 Months Ended
Segment Information (Tables)	Sep. 30, 2023
Segment Reporting Information, Revenue for Reportable Segment [Abstract]
Segment Reporting Information	The following table presents the Company’s segment information (in millions): Three Months Ended Nine Months Ended 2023 2022 2023 2022 Revenue LEU segment: Separative work units $ 40.5 $ 7.7 $ 147.4 $ 106.0 Uranium — 12.5 39.5 17.4 Total 40.5 20.2 186.9 123.4 Technical Solutions segment 10.8 13.0 29.7 44.2 Total revenue $ 51.3 $ 33.2 $ 216.6 $ 167.6 Segment Gross Profit LEU segment $ 10.1 $ 1.3 $ 60.8 $ 63.6 Technical Solutions segment 1.2 1.0 1.5 5.9 Gross profit $ 11.3 $ 2.3 $ 62.3 $ 69.5

Revenue and Contracts with Cu_3

Revenue and Contracts with Customers (Revenue from External Customers by Geographic Areas) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Revenue	$ 51.3	$ 33.2	$ 216.6	$ 167.6
Product [Member]
Revenue	40.5	20.2	186.9	123.4
Product [Member] \| United States
Revenue	16.9	7.4	148.4	27.3
Product [Member] \| Other Foreign
Revenue	$ 23.6	$ 12.8	$ 38.5	$ 96.1

Revenue and Contracts with Cu_4

Revenue and Contracts with Customers (Contract with Customer Asset and Liability) (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2023	Dec. 31, 2022
Provision for Loss on Contract Change	$ (16.7)
Deferred revenue	242.5	$ 258.4
Deferred revenue – change	(15.9)
Contract With Customer, Advances, Liability, Current	30.2	14.8
Advances from customers, current	15.4
Deferred Revenue, Noncurrent	32.8	46.2
Advances from customers, noncurrent - change	(13.4)
Government [Member]
Provision for Loss on Contracts	$ 3.3	$ 20

Revenue and Contracts with Cu_5

Revenue and Contracts with Customers Revenue and Contracts with Customers (Schedule of Accounts Receivable) (Details) - USD ($) $ in Millions	Sep. 30, 2023	Dec. 31, 2022
Revenue from Contract with Customer [Abstract]
Billed accounts receivable	$ 2.1	$ 29
Unbilled contract revenue	7.3	9.1
Accounts receivable, net	$ 9.4	$ 38.1

Revenue and Contracts with Cu_6

Revenue and Contracts with Customers - Narrative (Details) - USD ($) $ in Millions		3 Months Ended	9 Months Ended		10 Months Ended	57 Months Ended
	Oct. 19, 2023	Sep. 30, 2023	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2023	Dec. 31, 2022
Accounts, Notes, Loans and Financing Receivable [Line Items]
Provision for Loss on Contracts Utilized			$ (16.7)	$ (0.5)
Deferred revenue, revenue recognized			23.6	59.7
Revenue, remaining performance obligation, amount		$ 1,000	1,000		$ 1,000	$ 1,000
Deferred Revenue and Advances from Customers - Current and Noncurrent		306	306		$ 306	$ 306	$ 319
Unrealized Gain (Loss), Foreign Currency Transaction, before Tax		$ 0.6	$ 0.6
HALEU Demo Contract
Accounts, Notes, Loans and Financing Receivable [Line Items]
Government cost share, percentage		80%	80%		80%	80%
HALEU Ops Contract
Accounts, Notes, Loans and Financing Receivable [Line Items]
Cost obligated to DOE					$ 38.8
Total Amount Program Cost					125.9
Contract Value		$ 150	$ 150		150	$ 150
New Amount Program Cost		5.8
HALEU Ops Contract \| Subsequent Event
Accounts, Notes, Loans and Financing Receivable [Line Items]
Additional costs obligated to DOE	$ 5.5
HALEU Ops Contract \| Phase 2
Accounts, Notes, Loans and Financing Receivable [Line Items]
Contract Value		90	90		90	90
Government [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Provision for Loss on Contracts		3.3	3.3		3.3	3.3	$ 20
Proceeds from Customers					22.1	173
Government [Member] \| HALEU Demo Contract
Accounts, Notes, Loans and Financing Receivable [Line Items]
Provision for Loss on Contracts Utilized			0	$ (0.5)		19.6
Provision for Loss on Contracts		0	0		0	0
Proceeds from Customers						171.2
Government [Member] \| HALEU Ops Contract
Accounts, Notes, Loans and Financing Receivable [Line Items]
Provision for Loss on Contracts Utilized		5.4	16.7		18
Provision for Loss on Contracts		3.3	3.3		3.3	3.3
Maximum [Member] \| HALEU Ops Contract \| Phase 1
Accounts, Notes, Loans and Financing Receivable [Line Items]
Government cost share portion		30	30		30	30
Company cost share portion		$ 30	$ 30		$ 30	$ 30

Cash, Cash Equivalents and Re_3

Cash, Cash Equivalents and Restricted Cash (Schedule of Cash, Cash Equivalents and Restricted Cash) (Details) - USD ($) $ in Millions	Sep. 30, 2023	Dec. 31, 2022	Sep. 30, 2022	Dec. 31, 2021
Cash, Cash Equivalents and Restricted Cash [Abstract]
Cash and cash equivalents	$ 183.3	$ 179.9
Restricted cash included in other current assets	0.2	0.2
Restricted cash included in other long-term assets	32.3	32.3
Total cash, cash equivalents and restricted cash	$ 215.8	$ 212.4	$ 153	$ 196.8

Cash, Cash Equivalents and Re_4

Cash, Cash Equivalents and Restricted Cash (Schedule of Restricted Cash) (Details) - USD ($) $ in Millions	3 Months Ended	9 Months Ended
	Sep. 30, 2023	Sep. 30, 2023	Dec. 31, 2022
Restricted Cash and Cash Equivalents Items [Line Items]
Restricted cash included in other current assets	$ 0.2	$ 0.2	$ 0.2
Cash and Cash Equivalents, Held in Foreign Currency	14.3	14.3
Restricted cash included in other long-term assets	32.3	32.3	32.3
Unrealized Gain (Loss), Foreign Currency Transaction, before Tax	0.6	0.6
Collateral for Inventory Loan [Member]
Restricted Cash and Cash Equivalents Items [Line Items]
Restricted cash included in other current assets	0	0	0
Restricted cash included in other long-term assets	29.8	29.8	29.8
Workers compensation financial assurance [Member]
Restricted Cash and Cash Equivalents Items [Line Items]
Restricted cash included in other current assets	0	0	0
Restricted cash included in other long-term assets	2.4	2.4	2.4
Other financial assurance [Member]
Restricted Cash and Cash Equivalents Items [Line Items]
Restricted cash included in other current assets	0.2	0.2	0.2
Restricted cash included in other long-term assets	$ 0.1	$ 0.1	$ 0.1

Inventories (Schedule of Invent

Inventories (Schedule of Inventories) (Details) - USD ($) $ in Millions	Sep. 30, 2023	Dec. 31, 2022
Inventory, Net [Abstract]
Separative work units inventory	$ 25.3	$ 24.1
Uranium inventory	185.5	185.1
Inventories	210.8	209.2
Separative work units owed to customers and suppliers	0	0
Uranium owed to customers and suppliers	0.4	60.8
Inventories owed to customers and suppliers	0.4	60.8
Separative work units net of liability	25.3	24.1
Uranium inventory net of liability	185.1	124.3
Inventories, net	$ 210.4	$ 148.4

Inventories (Narrative) (Detail

Inventories (Narrative) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
Inventories (Narrative) (Details) - USD ($) $ in Millions	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022	Dec. 31, 2022
Inventory, Net [Abstract]
UF6 units borrowed in period, value			$ 22.5
Inventory Loans, Current & Noncurrent	$ 84.6		84.6		$ 58.6
Inventory Loans, Current	9.9		9.9		$ 9.9
Separative work units valuation change in period	$ 0.6	$ 0	$ 3.5	$ 5.5

Schedule of Intangible Assets (

Schedule of Intangible Assets (Details) - USD ($) $ in Millions	Sep. 30, 2023	Dec. 31, 2022
Finite-Lived Intangible Assets [Line Items]
Amortizable intangible assets, gross	$ 123.5	$ 123.5
Accumulated intangible asset amortization	(82)	(77.8)
Amortizable intangible assets, net	$ 41.5	45.7
Average useful life of finite-lived intangible assets	15 years
Contract-Based Intangible Assets [Member]
Finite-Lived Intangible Assets [Line Items]
Amortizable intangible assets, gross	$ 54.6	54.6
Accumulated intangible asset amortization	(40.7)	(39.9)
Amortizable intangible assets, net	13.9	14.7
Customer-Related Intangible Assets [Member]
Finite-Lived Intangible Assets [Line Items]
Amortizable intangible assets, gross	68.9	68.9
Accumulated intangible asset amortization	(41.3)	(37.9)
Amortizable intangible assets, net	$ 27.6	$ 31

Schedule of Debt (Details)

Schedule of Debt (Details) - USD ($) $ in Millions	Sep. 30, 2023	Dec. 31, 2022
Debt Instrument [Line Items]
Long-term debt	$ 89.6	$ 95.7
Senior Notes [Member]
Debt Instrument [Line Items]
Long-term debt, face amount	74.3	74.3
Long-term debt, interest	15.3	21.4
Long-term debt, current	6.1	6.1
Long-term debt	$ 89.6	$ 95.7

Debt (Narrative) (Details)

Debt (Narrative) (Details) - Senior Notes [Member] - USD ($) $ in Millions	Sep. 30, 2023	Dec. 31, 2022
Debt instrument interest rate	8.25%
Long-term debt, current	$ 6.1	$ 6.1

Fair Value Measurements (Financ

Fair Value Measurements (Financial Instruments Recorded at Fair Value) (Details) - USD ($) $ in Millions	Sep. 30, 2023	Dec. 31, 2022
Cash and cash equivalents	$ 183.3	$ 179.9
Deferred compensation asset	3	2.4
Deferred compensation obligation	3	2.4
Fair Value, Inputs, Level 1 [Member]
Deferred compensation asset	3	2.4
Deferred compensation obligation	3	2.4
Fair Value, Inputs, Level 2 [Member]
Cash and cash equivalents	0	0
Deferred compensation asset	0	0
Deferred compensation obligation	0	0
Fair Value, Inputs, Level 3 [Member]
Cash and cash equivalents	0	0
Deferred compensation asset	0	0
Deferred compensation obligation	$ 0	$ 0

Fair Value Measurements (Narrat

Fair Value Measurements (Narrative) (Details) - Senior Notes [Member] - USD ($) $ in Millions	Sep. 30, 2023	Dec. 31, 2022
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt, long-term and short-term, combined carrying value	$ 95.7	$ 101.8
Long-term debt, fair value	71	68.8
Long-term debt, face amount	$ 74.3	$ 74.3
Debt Instrument, Interest Rate, Stated Percentage	8.25%

Pension and Postretirement He_3

Pension and Postretirement Health and Life Benefits (Narrative) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022	Oct. 12, 2023	Dec. 31, 2022
Defined Benefit Plan, Net Periodic Benefit Cost (Credit), Gain (Loss) Due to Settlement and Curtailment	$ (0.9)	$ 0	$ (0.9)	$ 0
Pension Plan, Defined Benefit [Member]
Defined Benefit Plan, Benefit Obligation						$ 527.3
Portion of Defined Benefit Plan, Benefit Obligation related to Annuity						$ 30.6
Pension Plan, Defined Benefit [Member] \| Subsequent Event
Defined Benefit Plan, Pension Plan Obligation Transferred					$ 186.5
Estimated Litigation Liability					15.1
Defined Benefit Plan, Plan Assets, Amount					$ 171.4

Pension and Postretirement He_4

Pension and Postretirement Health and Life Benefits (Schedule of Net Benefit Costs) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Defined Benefit Plan, Net Periodic Benefit Cost (Credit), Gain (Loss) Due to Settlement and Curtailment	$ (0.9)	$ 0	$ (0.9)	$ 0
Pension Plan, Defined Benefit [Member]
Service costs	0.7	0.7	2.2	2
Interest costs	6.9	4.7	20.8	14.3
Amortization of prior service costs (credits), net	0	(0.1)	(0.1)	(0.2)
Expected return on plan assets (gains)	(7.7)	(8.9)	(23.2)	(26.7)
Net periodic benefit cost (credit)	(1)	(3.6)	(1.2)	(10.6)
Postretirement Health and Life Benefits Plans [Member]
Interest costs	1.2	0.9	3.7	2.7
Amortization of prior service costs (credits), net	(0.1)	0	(0.1)	(0.1)
Net periodic benefit cost (credit)	$ 1.1	$ 0.9	$ 3.6	$ 2.6

Net Income Per Share (Schedule

Net Income Per Share (Schedule of Income Per Share) (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Millions	3 Months Ended						9 Months Ended
	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Sep. 30, 2023	Sep. 30, 2022
Earnings Per Share [Abstract]
Net income (loss)	$ 8.2	$ 12.7	$ 7.2	$ (6.1)	$ 37.4	$ (0.4)	$ 28.1	$ 30.9
Average number of shares outstanding, basic	15,374			14,623			15,127	14,586
Potentially dilutive shares related to stock options	252			0			288	388
Average number of shares outstanding, diluted	15,626			14,623			15,415	14,974
Net income (loss) per common share - basic	$ 0.53			$ (0.42)			$ 1.86	$ 2.12
Net income (loss) per common share - diluted	$ 0.52			$ (0.42)			$ 1.82	$ 2.06
Antidilutive securities excluded from computation of earnings per share	0			401			1	0

Stockholders' Equity (Narrative

Stockholders' Equity (Narrative) (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended			9 Months Ended
	Jun. 30, 2023	Mar. 31, 2023	Mar. 31, 2022	Sep. 30, 2023	Jun. 20, 2023	Dec. 31, 2022
Class of Stock [Line Items]
Exchange of preferred stock for common stock and common stock warrant			$ 10.6
Reclassification of stock-based compensation liability to equity			(1.9)
Share-based Payment Arrangement, Decrease for Tax Withholding Obligation	$ (1.1)	$ (1.9)
Awards Under Executive Incentive Plan Period						3 years
Preferred Stock, Par Value Per Share				$ 1	$ 1
Minimum [Member]
Class of Stock [Line Items]
Purchase Price Increase Per Share					18
Maximum [Member]
Class of Stock [Line Items]
Purchase Price Increase Per Share					$ 160.38
Common Class A [Member]
Class of Stock [Line Items]
Stock Issued During Period, Shares, New Issues				722,568
Stock Issued During Period, Value, Gross				$ 24.4
Stock Issued During Period, Value, Net				23.4
Direct Costs of Stock Issuance				$ 0.2
Preferred Stock [Member]
Class of Stock [Line Items]
Reclassification of stock-based compensation liability to equity			0
Share-based Payment Arrangement, Decrease for Tax Withholding Obligation	0	0	0
Common Stock [Member] \| Common Class A [Member]
Class of Stock [Line Items]
Reclassification of stock-based compensation liability to equity			0
Share-based Payment Arrangement, Decrease for Tax Withholding Obligation	0	0	0
Excess of Capital over Par Value [Member]
Class of Stock [Line Items]
Reclassification of stock-based compensation liability to equity			10.6
Share-based Payment Arrangement, Decrease for Tax Withholding Obligation	$ (1.1)	$ (1.9)	$ (1.9)

Commitment and Contingencies (D

Commitment and Contingencies (Details) $ in Millions	Sep. 30, 2023 USD ($)
Commitments and Contingencies Disclosure [Abstract]
Loss Contingency, Possible Loss Not Accrued	$ 9.6

Segment Information (Segment Re

Segment Information (Segment Reporting Information) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Segment Reporting Information [Line Items]
Revenue	$ 51.3	$ 33.2	$ 216.6	$ 167.6
Gross Profit	11.3	2.3	62.3	69.5
Low Enriched Uranium Segment [Member]
Segment Reporting Information [Line Items]
Gross Profit	10.1	1.3	60.8	63.6
Technical Solutions Segment [Member]
Segment Reporting Information [Line Items]
Gross Profit	1.2	1	1.5	5.9
Product [Member]
Segment Reporting Information [Line Items]
Revenue	40.5	20.2	186.9	123.4
Separative Work Units [Member]
Segment Reporting Information [Line Items]
Revenue	40.5	7.7	147.4	106
Uranium [Member]
Segment Reporting Information [Line Items]
Revenue	0	12.5	39.5	17.4
Service [Member]
Segment Reporting Information [Line Items]
Revenue	$ 10.8	$ 13	$ 29.7	$ 44.2

Segment Information Schedule Of

Segment Information Schedule Of Entity Wide Revenue By Major Customers (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Customer A [Member] \| Low Enriched Uranium Segment [Member]
Revenue, Major Customer [Line Items]
Revenue	$ 12.5	$ 12.6	$ 54.1
Customer A [Member] \| Technical Solutions Segment [Member]
Revenue, Major Customer [Line Items]
Revenue	10.7	11.7	29.4	$ 35.7
Customer B [Member] \| Low Enriched Uranium Segment [Member]
Revenue, Major Customer [Line Items]
Revenue		$ 7.3	$ 47.8
Customer C [Member] \| Low Enriched Uranium Segment [Member]
Revenue, Major Customer [Line Items]
Revenue	14.9
Customer E [Member] \| Low Enriched Uranium Segment [Member]
Revenue, Major Customer [Line Items]
Revenue				44.9
Customer D [Member] \| Low Enriched Uranium Segment [Member]
Revenue, Major Customer [Line Items]
Revenue	$ 8.7			$ 19.2

Income Taxes (Details)

Income Taxes (Details) $ in Millions	3 Months Ended
Income Taxes (Details) $ in Millions	Sep. 30, 2023 USD ($)
Income Tax Disclosure [Abstract]
Income Tax Expense (Benefit), Continuing Operations, Adjustment of Deferred Tax (Asset) Liability	$ 7.7