Company: LEU
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0001065059-25-000024
Chunk: 49

Company: CENTRUS ENERGY CORP
Filing Date: 2025-05-08
Form: 10-Q
Item: Item 1
Chunk 49
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 — 2.5 Other0.2 0.1 0.2 0.1 Total deposits for financial assurance$30.0 $2.7 $30.0 $2.6 

18

In 2022, the Company entered into three inventory loans that each required a cash deposit into an escrow fund.  In March 2025, the Company repaid two of the three inventory loans. In May 2025, the Company received $18.6 million of restricted cash which was released from escrow (see Note 4, Inventories). 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 the Company. 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. 

4.  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. The components of the Company’s inventories are as follows (in millions): March 31, 2025December 31, 2024 CurrentAssetsCurrentLiabilities (a)Inventories, NetCurrentAssetsCurrentLiabilities(a)Inventories, NetSeparative work units$17.8 $— $17.8 $5.0 $2.5 $2.5 Uranium411.8 203.9 207.9 156.6 13.7 142.9 Total$429.6 $203.9 $225.7 $161.6 $16.2 $145.4 (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 may borrow SWU or uranium from customers, suppliers or fabricators, in which case the Company will record the SWU and/or uranium and the related liability