Company: LEU
Filing Date: 2025-08-06
Form Type: 10-Q
Source: 0001065059-25-000058
Chunk: 129

Company: CENTRUS ENERGY CORP
Filing Date: 2025-08-06
Form: 10-Q
Item: Item 8
Chunk 129
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 the group annuity contract was funded directly by assets of the pension plan of approximately $224.0 million. The purchase resulted in a transfer of benefit administrative responsibilities for more than 1,000 beneficiaries effective September 1, 2024.These events triggered a remeasurement that resulted in a decrease in the benefit obligation and a corresponding net actuarial gain of $16.6 million for both the three and six months ended June 30, 2024. The related income was included in Nonoperating Components of Net Periodic Benefit Loss (Income) in the Consolidated Statements of Operations. There were no pension plan remeasurements in the three and six months ended June 30, 2025. Effective December 31, 2024, the Company merged its two qualified defined benefit pension plans in order to achieve financial and administrative efficiencies. Actuarial gains and losses of the merged plan will be amortized over the average remaining life expectancy of participants. The merger is not expected to result in any benefit reduction to participants in either plan.

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9.  NET INCOME PER SHARE

Basic net income per share is calculated by dividing net income allocable to common stockholders by the weighted average number of shares of common stock outstanding during the period. In calculating diluted net income 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 units, restricted stock, and stock options and shares issuable under convertible notes. No dilutive effect is recognized in a period in which a net loss has occurred. On November 7, 2024, Centrus issued $402.5 million aggregate principal amount 2.25% Convertible Notes due 2030. The dilutive impact of the 2.25% Convertible Notes on the calculation of diluted income per share is considered using the if-converted method. However, because the principal amount of the 2.25% Convertible Notes must be settled in cash, the dilutive impact of applying the if-converted method is limited to the in-the-money portion, if any, of the 2.25% Convertible Notes.The weighted average number of common and common equivalent shares used in the calculation of basic and diluted net income per share are as follows: Three Months Ended  June 30,Six Months Ended  June 30,2025202420252024Numerator (in millions):Net income$28.9 $30.6