Company: LEU
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0001065059-25-000024
Chunk: 147

Company: CENTRUS ENERGY CORP
Filing Date: 2025-05-08
Form: 10-Q
Item: Item 8
Chunk 147
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1,000 beneficiaries effective September 1, 2024. 

During the third quarter of 2024, the Company transferred $15.4 million of pension plan assets and the related obligations under two participating group annuity contracts to two non-participating group additional agreements for two of its defined benefit plans. The purchase resulted in a transfer of future benefit obligations and administrative responsibilities for more than 400 beneficiaries effective October 1, 2024.

Potential Transactions

We are also actively considering and expect to consider potential strategic transactions from time to time, which at any given time may be in various stages of discussion, diligence, or negotiation. These could involve, without limitation, acquisitions and/or dispositions of businesses or assets, joint ventures or investments in businesses, products or technologies, or changes to our capital structure. In connection with any such transaction, we would seek to satisfy these needs through a combination of working capital, cash generated from operations, or additional debt or equity financing.

Cash Flow

The change in cash, cash equivalents and restricted cash from our Consolidated Statements of Cash Flows are as follows on a summarized basis (in millions):  

Three Months Ended  March 31, 20252024Cash provided by operating activities$36.5 $5.3 Cash used in investing activities(2.1)(1.5)Cash provided by (used in) financing activities(52.6)4.4 Effect of exchange rate changes on cash, cash equivalents and restricted cash(0.1)(0.1)Increase (decrease) in cash, cash equivalents and restricted cash$(18.3)$8.1 

Operating Activities

For the three months ended March 31, 2025, net cash provided by operating activities was $36.5 million. The net increase was primarily due to approximately $123.0 million in cash collected from customers and investment income. These cash inflows were partially offset by approximately $87.0 million of disbursements for operations, of which approximately $59.0 million relates to both payments for LEU inventory deliveries and cash outflows for the Technical Solutions segment, with the remaining disbursements being for corporate administration, benefits claims, and advanced technology costs.

For the three months ended March 31, 2024, net cash provided by operating activities was $5.3 million. The net increase was primarily due to approximately $81.0 million in cash collected from customers, investment income, and reimbursements for postretirement health and life