Company: LEU
Filing Date: 2025-08-06
Form Type: 10-Q
Source: 0001065059-25-000058
Chunk: 51

Company: CENTRUS ENERGY CORP
Filing Date: 2025-08-06
Form: 10-Q
Item: Item 1
Chunk 51
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 permitted. The Company is evaluating the impact this pronouncement will have on its Consolidated Financial Statements.

2.  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 June 30,Six Months Ended June 30,2025202420252024United States$57.2 $62.5 $108.5 $86.1 Foreign 68.5 107.1 68.5 107.1Revenue - SWU and uranium$125.7 $169.6 $177.0 $193.2 Refer to Note 12, Segment Information, for disaggregation of revenue by segment. Revenue for the LEU segment is derived from the sales of the SWU component of LEU, from sales of both the SWU and uranium components, and from sales of UF6 and U3O8, to electric utility customers and other nuclear fuel related companies. Technical Solutions’ revenue is derived from advanced manufacturing and other technical services provided to the U.S. government and private sector customers. SWU and uranium revenue is recognized when the customer obtains control of the SWU or uranium components. Technical Solutions’ revenue is generally recognized over the contractual period as services are rendered.Accounts ReceivableJune 30, 2025December 31, 2024(in millions)Accounts receivable:Billed$21.4 $69.8 Unbilled *9.9 10.2 Accounts receivable$31.3 $80.0 * 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 due to timing of invoice processing or pending the compilation of supporting documentation.

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Contract Liabilities The following table presents changes in contract liability balances (in millions):June 30,  2025December 31,  2024Year-To-Date ChangeDeferred revenue - current$154.8 $183.6 $(28.8)Advances from customers - current$— $32.8 $(32.8)Previously