Company: LEU
Filing Date: 2025-08-06
Form Type: 10-Q
Source: 0001065059-25-000058
Chunk: 122

Company: CENTRUS ENERGY CORP
Filing Date: 2025-08-06
Form: 10-Q
Item: Item 8
Chunk 122
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 $2.5 Uranium303.4 127.4 176.0 156.6 13.7 142.9 Total$320.5 $127.4 $193.1 $161.6 $16.2 $145.4 (a)This includes inventories owed to suppliers for advances of uranium. Inventories are valued at the lower of cost or net realizable value. The Company may borrow SWU or uranium from customers, suppliers or fabricators, in which case the Company will record the SWU and/or uranium and the related liability for the borrowing using projected and forecasted purchase price over the borrowing period. In the three and six months ended June 30, 2025, the Company repaid SWU inventory loans borrowed from a customer valued at $12.3 million and $38.8 million, respectively, by utilizing advances of SWU from the fabricator under an existing optimization agreement. In June 2025, the Company also repaid its UF6 inventory loan valued at $29.8 million.

The Company performs quarterly revaluations of Long-Term Inventory Loans reflecting an updated projection of the timing and sources of inventory to be used for repayment. These revaluations were recorded to Cost of Sales and resulted in an increase to the related liability of $1.5 million and $3.6 million, for the three and six months ended June 30, 2025, respectively, and $1.5 million and $1.8 million for the three and six months ended June 30, 2024, respectively. 

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5.  INTANGIBLE ASSETS

Intangible assets originated from the Company’s reorganization and application of fresh start accounting as of the date the Company emerged from bankruptcy, September 30, 2014, and reflect the conditions at that time. The intangible 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):June 30, 2025December 31, 2024Gross Carrying AmountAccumulated AmortizationNet AmountGross Carrying AmountAccumulated