Company: LEU
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0001065059-25-000024
Chunk: 148

Company: CENTRUS ENERGY CORP
Filing Date: 2025-05-08
Form: 10-Q
Item: Item 8
Chunk 148
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 benefits paid by the Company. These cash inflows were partially offset by approximately $76.0 million of disbursements for operations, of which approximately $52.0 million relates to payments for LEU inventory deliveries and cash outflows for the Technical Solutions segment, with the remaining disbursements being for corporate administration, benefits claims, and advanced technology costs. 

50

Investing Activities

Capital expenditures were $2.1 million and $1.5 million for the three months ended March 31, 2025 and 2024, respectively.

Financing Activities

For the three months ended March 31, 2025 and 2024, cash of $25.2 million and $7.1 million, respectively, was provided from the net proceeds related to the issuance of 258,197 and 176,628 shares, respectively, of Class A Common Stock under ATM offerings. 

Pursuant to the Redemption Notice, on March 26, 2025, the Company redeemed all 8.25% Notes at a redemption price equal to 100% of the principal amount of $74.3 million, together with any accrued and unpaid interest. For the three months ended March 31, 2025 and 2024, payments of $3.5 million and $3.1 million, respectively, of interest classified as debt are classified as a financing activity. Refer to Note 6, Debt, of the Consolidated Financial Statements regarding the accounting for the 8.25% Notes. 

Working Capital

The following table summarizes the Company’s working capital (in millions): 

March 31,2025December 31,2024Cash and cash equivalents$653.0 $671.4 Accounts receivable38.7 80.0 Inventories, net225.7 145.4 Current debt— (6.1)Deferred revenue and advances from customers, net of deferred costs(152.6)(152.5)Other current assets and liabilities, net(119.9)(69.8)Working capital$644.9 $668.4 

We are managing our working capital to seek to improve the long-term value of our LEU and Technical Solutions businesses because we believe these uses of working capital are in the best interest of all stakeholders. We expect that any other uses of working capital will be undertaken in light of these strategic priorities and will be based on the Company’s determination as to the relative strength of its operating performance and prospects