Company: LEU
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0001628280-25-049844
Chunk: 25

Company: CENTRUS ENERGY CORP
Filing Date: 2025-11-06
Form: 10-Q
Item: Item 2
Chunk 25
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 (1.1)(19)%Net income and comprehensive income$60.0 $19.5 $40.5 208 %

Advanced Technology Costs

Advanced technology costs were $8.0 million and $13.9 million for the nine months ended September 30, 2025 and 2024, respectively, a decrease of $5.9 million (or 42%). Advanced technology costs consist of American Centrifuge work and related expenses that are outside of our customer contracts in the Technical Solutions segment, including bid and proposal activities and work to improve our enrichment capability.

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Equity-Related Compensation

Equity-related compensation expense was $5.3 million and $1.1 million for the nine months ended September 30, 2025 and 2024, respectively, an increase of $4.2 million (or 382%). This increase was primarily as a result of a non-cash charge of $3.6 million due to the reclassification of certain Board restricted stock unit grants from equity to liability.

Nonoperating Components of Net Periodic Benefit Loss (Income)

Nonoperating components of net periodic benefit loss (income) netted to a loss of $2.9 million and income of $15.4 million for the nine months ended September 30, 2025 and 2024, respectively, a change of $18.3 million (or 119%). The change is primarily due to the $16.8 million remeasurement gain driven by the partial annuitization of two pension plans in May 2024. The remaining change is primarily related to the expected return on plan assets, partially offset by interest cost as the discounted present value of benefit obligations nears payment, as described in Note 8, Pension and Postretirement Health and Life Benefits of the Consolidated Financial Statements.

Interest Expense

Interest expense was $9.9 million and $0.8 million for the three months ended September 30, 2025 and 2024, respectively, an increase of $9.1 million (or 1,138%). This increase was due primarily to interest incurred on the 2.25% Convertible Notes issued in November 2024 and on the 0% Convertible Notes issued in August 2025.

Investment Income

Investment income was $28.2 million and $7.8 million for the three months ended September 30, 2025 and 2024, respectively, an increase of $20.