Company: LEU
Filing Date: 2025-08-06
Form Type: 10-Q
Source: 0001065059-25-000058
Chunk: 58

Company: CENTRUS ENERGY CORP
Filing Date: 2025-08-06
Form: 10-Q
Item: Item 1
Chunk 58
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 to Cost of Sales and resulted in an increase to the related liability of $1.5 million and $3.6 million, for the three and six months ended June 30, 2025, respectively, and $1.5 million and $1.8 million for the three and six months ended June 30, 2024, respectively. 

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5.  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 LEU segment backlog is amortized as the backlog, existing at emergence, is reduced, 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):June 30, 2025December 31, 2024Gross Carrying AmountAccumulated AmortizationNet AmountGross Carrying AmountAccumulated AmortizationNet AmountBacklog$54.6 $49.3 $5.3 $54.6 $46.8 $7.8 Customer relationships68.9 49.4 19.5 68.9 47.1 21.8 Total$123.5 $98.7 $24.8 $123.5 $93.9 $29.6 

6.  DEBT

A summary of debt is as follows (in millions):June 30, 2025December 31, 2024MaturityCurrentLong-TermCurrentLong-Term8.25% Notes:Feb. 2027Principal$— $— $— $74.3 Interest— — 6.1 9.2 2.25% Convertible Notes:Nov. 2030Principal— 402.5 — 402.5  Total$— $402.5 $6.1 $486.0 8.25% NotesPursuant to a notice of redemption issued on February 24, 2025, on March 26, 2025, the Company redeemed all 8.