Company: LEU
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0001065059-25-000024
Chunk: 92

Company: CENTRUS ENERGY CORP
Filing Date: 2025-05-08
Form: 10-Q
Item: Item 1
Chunk 92
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 (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 benefits paid by the Company. These cash inflows were partially offset by approximately $76.0 million of disbursements for operations, of which approximately $52.0 million relates to 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. 

50

Investing Activities

Capital expenditures were $2.1 million and $1.5 million for the three months ended March 31, 2025 and 2024, respectively.

Financing Activities

For the three months ended March 31, 2025 and 2024, cash of $25.2 million and $7.1 million, respectively, was provided from the net proceeds related to the issuance of 258,197 and 176,628 shares, respectively, of Class A Common Stock under ATM offerings. 

Pursuant to the Redemption Notice, on March 26, 2025, the Company redeemed all 8.25% Notes at a redemption price equal to 100% of the principal amount of $74.3 million, together with any accrued and unpaid interest. For the three months ended March 31, 2025 and 2024, payments of $3.5 million and $3.1 million, respectively, of interest classified as debt are classified as a financing activity. Refer to Note 6, Debt, of the Consolidated Financial Statements regarding the accounting for the 8.25% Notes. 

Working Capital

The