Company: LEU
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0001065059-25-000024
Chunk: 106

Company: CENTRUS ENERGY CORP
Filing Date: 2025-05-08
Form: 10-Q
Item: Item 8
Chunk 106
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angible 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):March 31, 2025December 31, 2024Gross Carrying AmountAccumulated AmortizationNet AmountGross Carrying AmountAccumulated AmortizationNet AmountBacklog$54.6 $46.8 $7.8 $54.6 $46.8 $7.8 Customer relationships68.9 48.2 20.7 68.9 47.1 21.8 Total$123.5 $95.0 $28.5 $123.5 $93.9 $29.6 

6.  DEBT

A summary of debt is as follows (in millions):March 31, 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 8.25% Notes at a redemption price equal to 100% of the $74.3 million aggregate principal amount, together with any accrued and unpaid interest. The Company recorded a gain of $11.8 million related to the extinguishment of the long-term debt. As of March 31, 2025, none of the 8.25% Notes remained outstanding. Interest on the Company’s 8.25% Notes was payable semi-annually in arrears as of February 28 and August 31 based on a 360-day year consisting of twelve 30-day months. The 8.25%