Company: LEU
Filing Date: 2025-02-07
Form Type: 10-K
Source: 0001065059-25-000006
Chunk: 97

Company: CENTRUS ENERGY CORP
Filing Date: 2025-02-07
Form: 10-K
Item: Item 7
Chunk 97
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 a loss contract was responsible for 87% of the decrease in SWU gross margin. Without this customer, our gross profit for the LEU segment would have increased $9.8 million year over year.

Gross profit for the Technical Solutions segment was $17.6 million and $7.0 million for the year ended December 31, 2024 and 2023, respectively, an increase of $10.6 million (or 151%). The increase was primarily attributable to the HALEU Operation Contract and the transition from Phase 1 (cost-share) to Phase 2 (cost-plus-incentive-fee) in late 2023.

74

Non-Segment Information

The following table presents elements of the accompanying Consolidated Statements of Operations that are not categorized by segment (dollar amounts in millions):

Year Ended December 31, 2024 Compared with Year Ended December 31, 2023

Year Ended December 31, 20242023$ Change% ChangeGross profit$111.5 $112.1 $(0.6)(1)%Advanced technology costs17.2 14.2 3.0 21 %Selling, general and administrative36.2 35.6 0.6 2 %Amortization of intangible assets9.8 6.3 3.5 56 %Special charges for workforce reductions0.3 3.6 (3.3)(92)%Operating income48.0 52.4 (4.4)(8)%Nonoperating components of net periodic benefit income(14.7)(23.2)8.5 37 %Interest expense2.7 1.3 1.4 108 %Investment income(12.9)(8.7)(4.2)(48)%Other income, net(0.1)(1.5)1.4 93 %Income before income taxes73.0 84.5 (11.5)(14)%Income tax expense (benefit)(0.2)0.1 (0.3)(300)%Net income$73.2 $84.4 $(11.2)(13)%

Amortization of Intangible Assets

Amortization of intangible assets was $9.8 million and $6.3 million for the year ended December 31, 2024 and 2023, respectively, an increase of $3.