Centrus Energy (LEU) 10-Q 7 Aug 15 2015 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2015	Jul. 31, 2015
Document and Entity Information
Entity Registrant Name	CENTRUS ENERGY CORP
Entity Central Index Key	1,065,059
Current Fiscal Year End Date	--12-31
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jun. 30, 2015
Entity Filer Category	Smaller Reporting Company
Entity Common Stock, Shares Outstanding		9,000,000
Document Fiscal Year Focus	2,015
Document Fiscal Period Focus	Q2

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Jun. 30, 2015	Dec. 31, 2014
Current Assets
Cash and cash equivalents	$ 218.5	$ 218.8
Accounts receivable, net	27.1	58.9
Inventories	384.8	462.2
Deferred costs associated with deferred revenue	58.8	82.9
Other current assets	15.2	19.6
Total current assets	704.4	842.4
Property, plant and equipment, net	3.4	3.5
Deferred income taxes	20.5	26
Deposits for surety bonds	30.9	34.8
Intangible assets	113.2	119.2
Excess reorganization value	137.2	137.2
Other long-term assets	20.5	20.6
Total Assets	1,030.1	1,183.7
Current Liabilities
Accounts payable and accrued liabilities	42	50.5
Payables under SWU purchase agreements	23.2	140.1
Deferred taxes	20.5	26
Inventories owed to customers and suppliers	199.6	158.9
Deferred revenue	70.3	100.9
Total current liabilities	355.6	476.4
Long-term debt	244	240.4
Postretirement health and life benefit obligations	214.1	211.4
Pension benefit liabilities	171.5	179.3
Other long-term liabilities	53.7	54.6
Total liabilities	$ 1,038.9	$ 1,162.1
Commitments and contingencies (Note 13)
Total stockholders’ equity (deficit)	$ (8.8)	$ 21.6
Total Liabilities and Stockholders’ Equity (Deficit)	$ 1,030.1	$ 1,183.7

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Cost of Sales:
Special charges for workforce reductions and advisory costs			$ 3.5
Predecessor [Member]
Revenue:
Separative work units		$ 104.5		$ 250.1
Uranium		0		0
Contract services		16.7		19.7
Total revenue		121.2		269.8
Cost of Sales:
Separative work units and uranium		100.8		266.1
Contract services		16.9		21.1
Total cost of sales		117.7		287.2
Gross profit (loss)		3.5		(17.4)
Advanced technology costs		18		51.3
Selling, general and administrative		10.1		21.8
Amortization of intangible assets		0		0
Special charges for workforce reductions and advisory costs		2.5		2
Other (income)		(8.4)		(34.6)
Operating (loss)		(18.7)		(57.9)
Interest expense		4.7		9.3
Interest (income)		0		(0.4)
Reorganization items, net		4.7		13.1
Income (loss) before income taxes		(28.1)		(79.9)
Provision (benefit) for income taxes		(0.1)		(1.1)
Net income (loss)		$ (28)		$ (78.8)
Net (loss) per share - basic and diluted		$ (5.71)		$ (16.08)
Weighted-average number of shares outstanding:
Weighted average number of shares outstanding - basic and diluted		4.9		4.9
Successor [Member]
Revenue:
Separative work units	$ 42.2		145.8
Uranium	0		43.2
Contract services	21.1		42.1
Total revenue	63.3		231.1
Cost of Sales:
Separative work units and uranium	36.7		176.3
Contract services	22.3		43.6
Total cost of sales	59		219.9
Gross profit (loss)	4.3		11.2
Advanced technology costs	4		5.8
Selling, general and administrative	6.3		18.6
Amortization of intangible assets	2		6
Special charges for workforce reductions and advisory costs	2.9		3.5
Other (income)	(0.7)		(1.5)
Operating (loss)	(10.2)		(21.2)
Interest expense	4.9		9.8
Interest (income)	0		(0.2)
Reorganization items, net	0		0
Income (loss) before income taxes	(15.1)		(30.8)
Provision (benefit) for income taxes	0		(0.3)
Net income (loss)	$ (15.1)		$ (30.5)
Net (loss) per share - basic and diluted	$ (1.68)		$ (3.39)
Weighted-average number of shares outstanding:
Weighted average number of shares outstanding - basic and diluted	9		9

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - Equity Component [Domain] - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Predecessor [Member]
Net income (loss)		$ (28)		$ (78.8)
Amortization of actuarial (gains) losses, net		0.3		0.6
Amortization of prior service costs (credits)		(0.1)		(0.2)
Other comprehensive income (loss), before tax		0.2		0.4
Income tax expense related to items of other comprehensive income		(0.1)		(0.1)
Other comprehensive income (loss), net of tax		0.1		0.3
Comprehensive income (loss)		$ (27.9)		$ (78.5)
Successor [Member]
Net income (loss)	$ (15.1)		$ (30.5)
Amortization of actuarial (gains) losses, net	0		0
Amortization of prior service costs (credits)	0		(0.1)
Other comprehensive income (loss), before tax	0		(0.1)
Income tax expense related to items of other comprehensive income	0		0
Other comprehensive income (loss), net of tax	0		(0.1)
Comprehensive income (loss)	$ (15.1)		$ (30.6)

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
Cash Flows Used in Financing Activities
Cash and Cash Equivalents at Beginning of Period	$ 218.8
Cash and Cash Equivalents at End of Period	218.5
Predecessor [Member]
Cash Flows from Operating Activities
Net income (loss)		$ (78.8)
Adjustments to reconcile net income (loss) to net cash (used in) operating activities:
Depreciation and amortization		4.1
Interest on paid-in-kind toggle notes		0
Gain on sales of assets		(0.9)
Reorganization items, non-cash		3.1
Changes in operating assets and liabilities:
Accounts receivable – (increase) decrease		137.9
Inventories, net – (increase) decrease		127.7
Payables under SWU purchase agreements – increase (decrease)		(340.7)
Deferred revenue, net of deferred costs – increase (decrease)		(10.8)
Accounts payable and other liabilities – (decrease)		(34.8)
Other, net		(0.2)
Net Cash (Used in) Operating Activities		(193.4)
Cash Flows Provided by Investing Activities
Deposits for surety bonds - net (increase) decrease		2.2
Proceeds from sales of assets		0.4
Net Cash Provided by Investing Activities		2.6
Cash Flows Used in Financing Activities
Common stock issued (purchased), net		(0.1)
Net Cash (Used in) Financing Activities		(0.1)
Net (Decrease)		(190.9)
Cash and Cash Equivalents at Beginning of Period		314.2
Cash and Cash Equivalents at End of Period		123.3
Supplemental Cash Flow Information:
Interest paid		$ 0
Successor [Member]
Cash Flows from Operating Activities
Net income (loss)	(30.5)
Adjustments to reconcile net income (loss) to net cash (used in) operating activities:
Depreciation and amortization	6.2
Interest on paid-in-kind toggle notes	1.8
Gain on sales of assets	(1.5)
Reorganization items, non-cash	0
Changes in operating assets and liabilities:
Accounts receivable – (increase) decrease	31.8
Inventories, net – (increase) decrease	118.1
Payables under SWU purchase agreements – increase (decrease)	(116.9)
Deferred revenue, net of deferred costs – increase (decrease)	(6.6)
Accounts payable and other liabilities – (decrease)	(12.7)
Other, net	4.5
Net Cash (Used in) Operating Activities	(5.8)
Cash Flows Provided by Investing Activities
Deposits for surety bonds - net (increase) decrease	4
Proceeds from sales of assets	1.5
Net Cash Provided by Investing Activities	5.5
Cash Flows Used in Financing Activities
Common stock issued (purchased), net	0
Net Cash (Used in) Financing Activities	0
Net (Decrease)	(0.3)
Cash and Cash Equivalents at Beginning of Period	218.8
Cash and Cash Equivalents at End of Period	218.5
Supplemental Cash Flow Information:
Interest paid	6
Conversion of interest payable-in-kind to long-term debt	$ 1.8

CONSOLIDATED STATEMENTS OF STOC

CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY - USD ($) $ in Millions	Total	Common Stock Par Value $.10 per Share [Member]	Excess of Capital over Par Value [Member]	Retained Earnings (Deficit) [Member]	Treasury Stock [Member]	Accumulated Other Comprehensive Income (Loss) [Member]
Beginning Balance (Predecessor [Member]) at Dec. 31, 2013	$ (458.2)	$ 0.5	$ 1,216.4	$ (1,520.7)	$ (34.3)	$ (120.1)
Net income (loss) | Predecessor [Member]	(78.8)			(78.8)
Other comprehensive income, net of tax (Note 14) | Predecessor [Member]	0.3					0.3
Restricted and other common stock issued, net of amortization | Predecessor [Member]	0.5		0.6		(0.1)
Ending Balance (Predecessor [Member]) at Jun. 30, 2014	(536.2)	0.5	1,217	(1,599.5)	(34.4)	(119.8)
Beginning Balance (Successor [Member]) at Dec. 31, 2014	21.6	0.9	58.6	(42.3)	$ 0	4.4
Beginning Balance at Dec. 31, 2014	21.6
Net income (loss) | Successor [Member]	(30.5)			(30.5)
Other comprehensive income, net of tax (Note 14) | Successor [Member]	(0.1)					(0.1)
Restricted and other common stock issued, net of amortization | Successor [Member]	0.2		0.2
Ending Balance (Successor [Member]) at Jun. 30, 2015	(8.8)	$ 0.9	$ 58.8	$ (72.8)		$ 4.3
Ending Balance at Jun. 30, 2015	$ (8.8)

Basis of Presentation

Basis of Presentation	6 Months Ended
	Jun. 30, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	BASIS OF PRESENTATION The unaudited condensed consolidated financial statements of Centrus Energy Corp. (“Centrus” or the “Company”), which include the accounts of the Company, its principal subsidiary United States Enrichment Corporation (“Enrichment Corp.”) and its other subsidiaries, as of and for the three and six months ended June 30, 2015 and 2014 have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”). The unaudited condensed consolidated financial statements reflect all adjustments that are, in the opinion of management, necessary for a fair statement of the financial results for the interim period. Certain information and notes normally included in financial statements prepared in accordance with generally accepted accounting principles in the United States (“GAAP”) have been omitted pursuant to such rules and regulations. All material intercompany transactions have been eliminated. Operating results for the three and six months ended June 30, 2015 are not necessarily indicative of the results that may be expected for the year ending December 31, 2015. The unaudited condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and related notes and Management's Discussion and Analysis of Financial Condition and Results of Operations included in the Annual Report on Form 10-K for the year ended December 31, 2014. On March 5, 2014, USEC Inc. filed a voluntary petition for relief (the “Bankruptcy Filing”) under Chapter 11 of Title 11 of the United States Code (the “Bankruptcy Code”) in the United States Bankruptcy Court for the District of Delaware (the “Bankruptcy Court”). The Bankruptcy Filing was “pre-arranged” and included the filing of a proposed Plan of Reorganization (the “Plan of Reorganization”) supported by certain holders of the claims and interests impaired under the Plan of Reorganization. On August 18, 2014, the Company announced that the Plan of Reorganization was accepted by more than 99% in both value and number of votes cast of holders of its convertible notes and that both holders of the Company’s preferred equity voted in favor of the Plan of Reorganization. On September 5, 2014, the Bankruptcy Court entered an order approving and confirming the Plan of Reorganization. On September 30, 2014 (the “Effective Date”), the Company satisfied the conditions of the Plan of Reorganization and the Plan of Reorganization became effective. On the Effective Date, USEC Inc.’s name was changed to Centrus Energy Corp. In accordance with Accounting Standards Codification Topic 852, Reorganizations , Centrus adopted fresh start accounting upon emergence from Chapter 11 bankruptcy resulting in Centrus becoming a new entity for financial reporting purposes. References to “Successor” or “Successor Company” relate to the financial position of the reorganized Centrus as of and subsequent to September 30, 2014 and results of operations subsequent to September 30, 2014. References to “Predecessor” or “Predecessor Company” relate to the Company prior to September 30, 2014. As a result of the application of fresh start accounting and the effects of the implementation of the Plan of Reorganization, the consolidated financial statements on or after September 30, 2014 are not comparable to consolidated financial statements prior to that date. Expenses, gains and losses directly associated with reorganization proceedings are reported as Reorganization Items, Net , in the accompanying condensed consolidated statement of operations. New Accounting Standards In May 2014, the Financial Accounting Standards Board (“FASB”) issued comprehensive new guidance for revenue recognition. The core principle of the new standard is that revenue should be recognized when an entity transfers promised goods or services to customers in an amount that reflects the consideration the entity expects to receive in exchange for those goods or services. The new standard will supersede current guidance in effect and may require the use of more judgment and estimates, including estimating the amount of variable revenue to recognize over each identified performance obligation. The new standard requires additional disclosures to describe the nature, amount and timing of revenue and cash flows arising from contracts. In July 2015, the FASB deferred the effective date of the new revenue recognition standard by one year. The new standard will become effective for Centrus beginning with the first quarter of 2018 and can be adopted either retrospectively to each prior reporting period presented or as a cumulative effect adjustment as of the date of adoption. Centrus is evaluating the impact of adopting this new guidance on its consolidated financial statements. In April 2015, the FASB issued guidance to simplify the presentation of debt issuance costs. The new guidance requires the presentation of debt issuance costs in the balance sheet as a deduction from the carrying amount of the related debt liability instead of a deferred charge asset. Debt disclosures will include the face amount of the debt liability and the effective interest rate. The new guidance requires retrospective application and is effective for Centrus beginning with the first quarter of 2016. Early adoption is permitted. Centrus is evaluating the impact of adopting this new guidance on its consolidated financial statements. In May 2015, the FASB issued guidance to eliminate the requirement to categorize investments in the fair value hierarchy table for which the fair value is measured at net asset value (“NAV”) per share as a practical expedient. The new guidance requires retrospective application and is effective for Centrus beginning in the first quarter of 2016. Earlier adoption is permitted. Centrus adopted in the current quarter and no longer categorizes money market funds in the fair value hierarchy table in Note 9. The Company’s investments in money market funds are included in cash and cash equivalents in the consolidated balance sheet. The new guidance only impacts the Company’s fair value measurement disclosures and did not affect the Company’s financial condition, results of operations, or cash flows. In July 2015, the FASB issued guidance that simplifies the subsequent measurement of inventories by replacing the current valuation test (lower of cost or market) with a lower of cost or net realizable value (“NRV”) test. The new test is applicable for certain inventory costing methods including the monthly moving average cost method used by Centrus. NRV is the estimated selling price in the ordinary course of business, less reasonably predictable costs of completion, disposal and transportation. Under former guidance, NRV was one of several determinations used to assess market values. The new guidance is effective for Centrus beginning in the first quarter of 2017 and earlier adoption is permitted. Under current guidance, NRV has been the determining factor in assessing the market value for the Company’s principal inventory, the separative work unit (“SWU”) component of low enriched uranium (“LEU”). The Company does not expect the adoption of the new guidance will have a material effect on the Company’s financial condition, results of operations, or cash flows.

Transition Charges

Transition Charges	6 Months Ended
	Jun. 30, 2015
Restructuring and Related Activities [Abstract]
Transition Charges	TRANSITION CHARGES Direct Charges The Company ceased uranium enrichment at the Paducah Gaseous Diffusion Plant (the “Paducah GDP”) at the end of May 2013 and subsequently completed transferring its inventory to off-site licensed locations to meet future customer orders. On October 21, 2014, all of the leased portions of the Paducah GDP were de-leased and returned to the U.S. Department of Energy (“DOE”). Pursuant to a June 2014 agreement with DOE, the lease terminated with respect to the Paducah GDP on August 1, 2015. The termination of the lease with respect to the Paducah GDP does not affect the Company’s right to lease portions of the DOE-owned site in Piketon, Ohio needed for the American Centrifuge program. The USEC Privatization Act and the lease for the plant provide that DOE remains responsible for decontamination and decommissioning of the Paducah GDP site. As the Company accelerated the expected productive life of plant assets and ceased uranium enrichment at the Paducah GDP, the Company has incurred a number of expenses unrelated to production that have been charged directly to cost of sales. Direct charges totaled $3.9 million and $8.6 million in the three and six months ended June 30, 2015 and $14.3 million and $49.2 million in the corresponding periods in 2014 as follows: - Operating expenses of $3.9 million and $8.3 million in the three and six months ended June 30, 2015, compared to $8.7 million and $35.7 million in the corresponding periods in 2014. Charges in 2015 include off-site inventory management and logistics costs. Charges in 2014 include inventory management and disposition, ongoing regulatory compliance, utility requirements for operations, security, and other Paducah site management activities related to the transitioning of facilities and infrastructure to DOE; - Inventory charges of $0 and $0.3 million in the three and six months ended June 30, 2015, compared to $5.1 million and $11.7 million in the three and six months ended June 30, 2014, including the cost of inventories deployed for cascade drawdown, assay blending and repackaging, and residual uranium in cylinders transferred to DOE. The Company determined that it was uneconomic to recover resulting residual quantities for resale; and - Paducah GDP asset depreciation charges of $0.5 million and $1.8 million in the three and six months ended June 30, 2014. Paducah GDP asset depreciation was completed as of June 30, 2014. Special Charges for Workforce Reductions The cessation of enrichment at the Paducah GDP and evolving business needs have resulted in workforce reductions since July 2013. DOE’s liability for its share of Paducah employee severance paid by the Company is pursuant to the USEC Privatization Act. A summary of special charges and changes in the related balance sheet accounts in the six months ended June 30, 2015 follows (in millions): Liability Balance to Be Paid, Dec. 31, 2014 Six Months Ended June 30, 2015 Liability Balance to Be Paid, June 30, 2015 Special Charges Paid Workforce reductions, primarily severance payments $ 2.4 $ 3.8 $ (3.8 ) $ 2.4 Less: Amounts billed to DOE (0.3 ) Special charges for workforce reductions $ 3.5

Advanced Technology Costs and O

Advanced Technology Costs and Other Income	6 Months Ended
	Jun. 30, 2015
Research and Development [Abstract]
Advanced Technology Costs and Other Income	ADVANCED TECHNOLOGY COSTS AND OTHER INCOME From June 2012 through April 2014, the Company performed work under the June 2012 cooperative agreement with DOE (the “Cooperative Agreement”) for the American Centrifuge technology with cost-share funding from DOE. The Cooperative Agreement provided for 80% DOE and 20% Company cost sharing for work performed up to a total government cost share of $280 million . The Cooperative Agreement expired in accordance with its terms on April 30, 2014. For the three and six months ended June 30, 2014, advanced technology costs included costs for work performed under the Cooperative Agreement and DOE’s cost share was recognized as other income. On May 1, 2014, the Company signed an agreement for continued research, development and demonstration of the American Centrifuge technology in furtherance of DOE’s national security objectives (the “American Centrifuge Technology Demonstration and Operations Agreement”, or “ACTDO Agreement”) with UT-Battelle, LLC (“UT-Battelle”), the management and operating contractor for Oak Ridge National Laboratory (“ORNL”). The scope of the overall work under the ACTDO Agreement is reduced from the scope of work that was being conducted by the Company under the Cooperative Agreement. Revenue and cost of sales for work that Centrus performs under the fixed-price ACTDO Agreement as a subcontractor to UT-Battelle are reported in the contract services segment. American Centrifuge costs incurred by the Company that are outside of the ACTDO Agreement are included in advanced technology costs, including certain demobilization and maintenance costs. Such costs totaled $4.0 million in the three months and $5.8 million in the six months ended June 30, 2015, and $7.0 million in May-June 2014.

Accounts Receivable

Accounts Receivable	6 Months Ended
	Jun. 30, 2015
Accounts Receivable, Net, Current [Abstract]
Accounts Receivable	RECEIVABLES June 30, December 31, (millions) Utility customers and other $ 11.9 $ 36.3 Contract services, primarily DOE 15.2 22.6 Accounts receivable, net $ 27.1 $ 58.9 Accounts receivable are net of valuation allowances and allowances for doubtful accounts totaling $0.6 million as of June 30, 2015 and December 31, 2014. Certain overdue receivables from DOE are included in other long-term assets based on the extended timeframe expected to resolve claims for payment. The Company has filed claims with DOE for payment under the Contract Disputes Act (“CDA”). Unpaid invoices to DOE related to filed claims totaled approximately $75 million as of June 30, 2015 and December 31, 2014. Due to the lack of a resolution with DOE and uncertainty regarding the timing and amount of future collections, the long-term receivable for accounting purposes is $19.9 million as of June 30, 2015 and December 31, 2014. Centrus has unapplied payments from DOE that may be used, at DOE’s direction, (a) to pay for future services provided by the Company or (b) to reduce outstanding receivables balances due from DOE. The payments balance of $19.5 million as of June 30, 2015 and $19.6 million as of December 31, 2014 is included in other long-term liabilities pending resolution of the long-term receivables from DOE described above.

Inventories

Inventories	6 Months Ended
	Jun. 30, 2015
Inventory, Net [Abstract]
Inventories	INVENTORIES Centrus holds uranium at licensed locations in the form of natural uranium and as the uranium component of low enriched uranium (“LEU”). Centrus holds separative work units (“SWU”) as the SWU component of LEU. Centrus may also hold title to the uranium and SWU components of LEU at fabricators to meet book transfer requests by customers. Fabricators process LEU into fuel for use in nuclear reactors. Components of inventories follow (in millions): June 30, 2015 December 31, 2014 Current Assets Current Liabilities (a) Inventories, Net Current Assets Current Liabilities (a) Inventories, Net Separative work units $ 285.7 $ 99.1 $ 186.6 $ 330.6 $ 76.6 $ 254.0 Uranium 98.9 100.5 (1.6 ) 131.4 82.3 49.1 Materials and supplies 0.2 — 0.2 0.2 — 0.2 $ 384.8 $ 199.6 $ 185.2 $ 462.2 $ 158.9 $ 303.3 (a) Inventories owed to customers and suppliers, included in current liabilities, consist primarily of SWU and uranium inventories owed to fabricators. Uranium Provided by Customers and Suppliers Centrus held uranium with estimated values of approximately $0.5 billion as of June 30, 2015 and $0.6 billion as of December 31, 2014 to which title was held by customers and suppliers and for which no assets or liabilities were recorded on the balance sheet. While in some cases Centrus sells both the SWU and uranium components of LEU to customers, utility customers typically provide uranium to Centrus as part of their enrichment contracts. Title to uranium provided by customers generally remains with the customer until delivery of LEU at which time title to LEU is transferred to the customer, and title to uranium is transferred to Centrus.

Property, Plant and Equipment P

Property, Plant and Equipment Property, Plant and Equipment	6 Months Ended
	Jun. 30, 2015
Property, Plant and Equipment [Abstract]
Property, Plant and Equipment	PROPERTY, PLANT AND EQUIPMENT June 30, December 31, (millions) Property, plant and equipment, gross $ 3.7 $ 3.7 Accumulated depreciation (0.3 ) (0.2 ) Property, plant and equipment, net $ 3.4 $ 3.5

Intangible Assets

Intangible Assets	6 Months Ended
	Jun. 30, 2015
Intangible Assets Disclosure [Abstract]
Intangible Assets	INTANGIBLE ASSETS Intangible assets represent the fair value adjustment to the assets and liabilities for the Company’s LEU segment resulting from the Company’s reorganization and application of fresh start accounting as of September 30, 2014. The amortizable intangible assets relate to backlog and customer relationships. The excess of the reorganization value over the fair value of identified tangible and intangible assets is reported separately on the condensed consolidated balance sheet. The backlog intangible asset is amortized as backlog valued at emergence is reduced, principally as a result of deliveries to customers. The customer relationships intangible asset 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 condensed consolidated statement of operations. June 30, December 31, (millions) Amortizable intangible assets: Backlog $ 54.6 $ 54.6 Customer relationships 68.9 68.9 Amortizable intangible assets, gross $ 123.5 $ 123.5 Accumulated amortization (10.3 ) (4.3 ) Amortizable intangible assets, net $ 113.2 $ 119.2 Nonamortizable intangible assets: Excess reorganizational value $ 137.2 $ 137.2

Debt

Debt	6 Months Ended
	Jun. 30, 2015
Debt Disclosure [Abstract]
Debt	DEBT On the Effective Date and pursuant to the Plan of Reorganization, all of the Company’s convertible senior notes that were issued and outstanding immediately prior to the Effective Date were cancelled and the Company issued 8.0% paid-in-kind toggle notes (the “PIK Toggle Notes”) pursuant to the Indenture. The PIK Toggle Notes were issued in an initial aggregate principal amount of $240.4 million . No cash was received related to the issuance. The principal amount may be increased by any payment of interest in the form of PIK payments, as elected by the Company. The PIK Toggle Notes pay interest at a rate of 8.0% per annum. Interest is payable semi-annually in arrears based on a 360-day year consisting of twelve 30-day months. The Company has elected to pay 3.0% per annum of interest due on the PIK Toggle Notes for the interest periods ending on March 31, 2015 and September 30, 2015 in the form of PIK payments. As such, interest for the semi-annual period ended March 31, 2015 was paid as $6.0 million in cash and $3.6 million in PIK payments, and the principal balance increased accordingly to $244.0 million . Total interest payable at June 30, 2015 is $4.9 million , of which the expected cash portion of $3.1 million is included in accounts payable and accrued liabilities and the expected PIK portion of $1.8 million is included in other long-term liabilities. For any interest payment date from October 1, 2015 through the maturity of the PIK Toggle Notes, the Company has the option to pay up to 5.5% per annum of interest due on the PIK Toggle Notes in the form of PIK payments. The PIK Toggle Notes will mature on September 30, 2019. However, the maturity date can be extended to September 30, 2024 upon the satisfaction of certain funding conditions described in the Indenture relating to the funding, under binding agreements, of (i) the American Centrifuge project or (ii) the implementation and deployment of a National Security Train Program utilizing American Centrifuge technology. The PIK Toggle Notes rank equally in right of payment with all existing and future unsubordinated indebtedness of the Company (other than the Issuer Senior Debt as defined below) and are senior in right of payment to all existing and future subordinated indebtedness of the Company. The PIK Toggle Notes are subordinated in right of payment to certain indebtedness and obligations of the Company described in the Indenture (the “Issuer Senior Debt”), including (i) any indebtedness of the Company under a future credit facility, (ii) obligations of, and claims against, the Company under any equity investment (or any commitment to make an equity investment) with respect to the financing of the American Centrifuge project, (iii) obligations of, and claims against, the Company under any arrangement with DOE, export credit agencies or any other lenders or insurers with respect to the financing or government support of the American Centrifuge project and (iv) indebtedness of the Company to Enrichment Corp. under the Centrus Intercompany Note. The Company incurred offering expenses of $0.7 million related to the issuance of the PIK Toggle Notes. These costs are deferred and are being amortized on a straight-line basis, which approximates the effective interest method, over the life of the PIK Toggle Notes. The deferred financing cost balance, included in other long-term assets, was $0.6 million at June 30, 2015.

Fair Value Measurements

Fair Value Measurements	6 Months Ended
	Jun. 30, 2015
Fair Value Disclosures [Abstract]
Fair Value Measurements	FAIR VALUE MEASUREMENTS Pursuant to the accounting guidance for fair value measurements, fair value is defined as the price that would be received from selling an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. When determining the fair value measurements for assets and liabilities required or permitted to be recorded at fair value, consideration is given to the principal or most advantageous market and assumptions that market participants would use when pricing the asset or liability. The accounting guidance establishes a fair value hierarchy based on the level of independent, objective evidence surrounding the inputs used to measure fair value: • Level 1 – quoted prices in active markets for identical assets or liabilities. • Level 2 – inputs other than Level 1 that are observable, either directly or indirectly, such as quoted prices in active markets for similar assets or liabilities, quoted prices for identical or similar assets or liabilities in markets that are not active, or model-derived valuations in which significant inputs are observable or can be derived principally from, or corroborated by, observable market data. • Level 3 – unobservable inputs in which little or no market data exists. Financial Instruments Recorded at Fair Value (in Millions) June 30, 2015 December 31, 2014 Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total Assets: Deferred compensation asset (a) — $ 1.4 — $ 1.4 — $ 3.2 — $ 3.2 Liabilities: Deferred compensation obligation (a) — 1.1 — 1.1 — 3.0 — 3.0 (a) The deferred compensation obligation represents the balance of deferred compensation plus net investment earnings. The deferred compensation plan is informally funded through a rabbi trust using variable universal life insurance. The cash surrender value of the life insurance policies is designed to track the deemed investments of the plan participants. Investment crediting options consist of institutional and retail investment funds. The deemed investments are classified within Level 2 of the valuation hierarchy because (i) of the indirect method of investing and (ii) unit prices of institutional funds are not quoted in active markets. There have been no transfers between Levels 1, 2 or 3 during the periods presented. Other Financial Instruments As of June 30, 2015 and December 31, 2014, the balance sheet carrying amounts for cash and cash equivalents, accounts receivable, accounts payable and accrued liabilities (excluding the deferred compensation obligation described above), and payables under SWU purchase agreements approximate fair value because of the short-term nature of the instruments. The estimated fair value of the PIK Toggle Notes was $96.7 million at June 30, 2015 and $121.2 million at December 31, 2014 based on the most recent trading prices as of the balance sheet date (Level 1).

Pension and Postretirement Heal

Pension and Postretirement Health and Life Benefits	6 Months Ended
	Jun. 30, 2015
General Discussion of Pension and Other Postretirement Benefits [Abstract]
Pension and Postretirement Health and Life Benefits	PENSION AND POSTRETIREMENT HEALTH AND LIFE BENEFITS The components of net periodic benefit cost (credit) for the pension plans were as follows (in millions): Three Months Ended June 30, Six Months Ended June 30, Successor Predecessor Successor Predecessor 2015 2014 2015 2014 Service costs $ 1.0 $ 0.6 $ 2.0 $ 1.2 Interest costs 9.3 10.6 18.6 21.1 Expected return on plan assets (gains) (12.2 ) (12.8 ) (24.4 ) (25.6 ) Amortization of actuarial (gains) losses, net — 0.3 — 0.6 Actuarial (gain) from remeasurement (3.9 ) — (3.9 ) — Net periodic benefit cost (credit) $ (5.8 ) $ (1.3 ) $ (7.7 ) $ (2.7 ) The components of net periodic benefit cost for the postretirement health and life benefit plans were as follows (in millions): Three Months Ended June 30, Six Months Ended June 30, Successor Predecessor Successor Predecessor 2015 2014 2015 2014 Service costs $ — $ 0.4 $ 0.1 $ 0.9 Interest costs 2.2 2.5 4.4 5.0 Expected return on plan assets (gains) (0.3 ) (0.5 ) (0.5 ) (1.0 ) Amortization of prior service costs (credits), net — (0.1 ) (0.1 ) (0.2 ) Net periodic benefit cost $ 1.9 $ 2.3 $ 3.9 $ 4.7 Centrus contributed $7.4 million to the non-qualified defined benefit pension plans in the six months ended June 30, 2015, and expects to contribute less than $1.0 million in the remainder of 2015. The Company does not expect there to be a required contribution for the qualified defined benefit pension plans in 2015, and therefore, does not expect to contribute in 2015. There is no required contribution for the postretirement health and life benefit plans under Employee Retirement Income Security Act (“ERISA”), and the Company does not expect to contribute in 2015. Lump-sum payments in the six months ended June 30, 2015 to former employees including those affected by workforce reductions totaled $7.3 million for the non-qualified defined benefit pension plans and $3.1 million for the Employees’ Retirement Plan of Centrus Energy Corp. Under settlement accounting rules, these payments resulted in the remeasurement of pension obligations for these plans as of June 30, 2015. The interim remeasurement was required since the payments exceeded the sum of the service cost and interest cost components of the annual net periodic benefit cost for each plan for the current year. Lump-sum payments to employees in the Retirement Program Plan for Employees of United States Enrichment Corporation totaled $37.9 million in the six months ended June 30, 2015 and did not meet the settlement accounting threshold for that plan. The remeasurement of pension obligations as of June 30, 2015 resulted in a gain of $3.9 million included in selling, general and administrative expenses in the three and six months ended June 30, 2015. The discount rate used in the measurement of pension obligations for the affected plans increased from approximately 4.1% as of December 31, 2014 to approximately 4.5% as of June 30, 2015. Effective with the adoption of fresh start accounting as of September 30, 2014, Centrus immediately recognizes actuarial gains and losses in the statement of operations in the period in which they arise. Other Plan Update The opportunity to participate in the Executive Deferred Compensation Plan was reactivated in June 2015 allowing deferrals beginning in July 2015. Enrollment in the plan had been suspended since January 2013. Qualified employees may defer compensation on a tax-deferred basis subject to plan limitations. Any matching contributions under the Company’s 401(k) plan that are foregone due to annual compensation limitations of the Internal Revenue Code are eligible to be received from the Company under the Executive Deferred Compensation Plan, provided that the employee deferred the maximum allowable pre-tax contribution in the 401(k) plan .

Stock-Based Compensation

Stock-Based Compensation	6 Months Ended
	Jun. 30, 2015
Share-based Compensation [Abstract]
Stock-Based Compensation	STOCK-BASED COMPENSATION A summary of stock-based compensation costs related to the 2014 Equity Incentive Plan and expired plans follows (in millions): Three Months Ended June 30, Six Months Ended June 30, Successor Predecessor Successor Predecessor 2015 2014 2015 2014 Total stock-based compensation costs: Restricted stock and restricted stock units $ — $ 0.2 $ 0.1 $ 0.5 Stock options, performance awards and other 0.1 — 0.1 — Expense included primarily in selling, general and administrative expense $ 0.1 $ 0.2 $ 0.2 $ 0.5 Total recognized tax benefit $ — $ — $ — $ — As of June 30, 2015, there was $1.0 million of unrecognized compensation cost, adjusted for estimated forfeitures, of which $0.8 million relates to stock options and $0.2 million relates to unvested restricted stock units. Unrecognized compensation cost is expected to be recognized over a weighted-average period of 3 years. Stock-based compensation cost is measured at the grant date, based on the fair value of the award using the Black-Scholes option pricing model, and is recognized over the vesting period. Stock options vest and become exercisable in equal annual installments over a three or four year period and expire 10 years from the date of grant. There were 300,000 options granted in the six months ended June 30, 2015. There were no option grants in the six months ended June 30, 2014. Assumptions used to value option grants in the six months ended June 30, 2015 follow: Risk-free interest rate 1.91% Expected volatility 75% Expected option life (years) 6 Weighted-average grant date fair value $2.89

Net Income Per Share

Net Income Per Share	6 Months Ended
	Jun. 30, 2015
Earnings Per Share [Abstract]
Net Income (Loss) Per Share	NET INCOME (LOSS) PER SHARE Basic net income (loss) per share is calculated by dividing net income (loss) by the weighted average number of shares of common stock outstanding during the period, excluding any unvested restricted stock. In calculating diluted net income per share, the numerator is increased by interest and dividends on potentially dilutive securities, net of tax, and the denominator is increased by the weighted average number of shares resulting from potentially dilutive securities, assuming full conversion. Net (loss) per share information reported for the three and six months ended June 30, 2015 is not comparative to the corresponding periods in 2014 as a result of the emergence from Chapter 11 bankruptcy and the application of fresh start accounting. On the Effective Date, all debt and stock of the Predecessor Company were cancelled and new debt and stock for the Successor Company were issued. Three Months Ended June 30, Six Months Ended June 30, Successor Predecessor Successor Predecessor (in millions, except per share amounts) 2015 2014 2015 2014 Numerators for basic and diluted calculations (a): Net (loss) $ (15.1 ) $ (28.0 ) $ (30.5 ) $ (78.8 ) Denominator: Weighted average common shares 9.0 5.0 9.0 5.0 Less: Weighted average unvested restricted stock — 0.1 — 0.1 Denominator for basic calculation 9.0 4.9 9.0 4.9 Weighted average effect of dilutive securities: Stock compensation awards (b) — — — — Convertible notes — 1.8 — 1.8 Convertible preferred stock: Equivalent common shares — 28.6 — 22.9 Less: share issuance limitation (c) — 27.7 — 22.0 Net allowable common shares — 0.9 — 0.9 Subtotal — 2.7 — 2.7 Less: shares excluded in a period of a net loss — 2.7 — 2.7 Weighted average effect of dilutive securities — — — — Denominator for diluted calculation 9.0 4.9 9.0 4.9 Net (loss) per share - basic and diluted $ (1.68 ) $ (5.71 ) $ (3.39 ) $ (16.08 ) (a) Interest expense on the former convertible notes, net of tax, was $3.0 million in the three months ended June 30, 2014 and $6.0 million in the six months ended June 30, 2014. The tax rate is the statutory rate. However, no dilutive effect is recognized in a period in which a net loss has occurred. (b) Compensation awards under the 2014 Equity Incentive Plan resulted in common stock equivalents of less than 0.1 million shares of common stock and are excluded from the diluted calculation as a result of net losses in the three and six months ended June 30, 2015. (c) Conversion of the convertible preferred stock of the Predecessor Company was limited based on NYSE rules requiring shareholder approval. Options and warrants to purchase shares of common stock having an exercise price greater than the average share market price are excluded from the calculation of diluted net (loss) per share: Three Months Ended June 30, Six Months Ended June 30, Successor Predecessor Successor Predecessor 2015 2014 2015 2014 Options excluded from diluted net income per share 75,000 200 75,000 200 Warrants excluded from diluted net income per share N/A 250,000 N/A 250,000 Exercise price of excluded options $ 5.62 $ 283.25 to $ 5.62 $ 283.25 to $ 357.00 $ 357.00 Exercise price of excluded warrants N/A $ 187.50 N/A $ 187.50

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2015
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	COMMITMENTS AND CONTINGENCIES American Centrifuge Project Funding The economics for commercial deployment of the American Centrifuge technology are severely challenged by the current supply/demand imbalance in the market for LEU and related downward pressure on market prices for SWU that are now at their lowest levels in more than a decade. Under current market conditions, Centrus does not believe that its previous plans for commercialization of the American Centrifuge project are economically viable. Although the economics of the American Centrifuge project are severely challenged under current nuclear fuel market conditions, market conditions are expected to improve in the long term and Centrus continues to take steps to maintain its options to deploy the American Centrifuge technology as a long-term, direct source of domestic enrichment production. In light of the strategic value of the American Centrifuge technology, DOE instructed UT-Battelle, the management and operating contractor for ORNL, to assist in developing a path forward for achieving a domestic uranium enrichment capability that supports national security purposes. This task includes, among other goals: (1) taking actions intended to promote the continued operability of the advanced enrichment centrifuge machines and related property, equipment and technology currently utilized in the American Centrifuge project; and (2) assessing technical options for meeting DOE’s national security needs and preserving the option of commercial deployment. Pursuant to those instructions, ORNL chose to subcontract with the Company. On May 1, 2014, the Company signed the ACTDO Agreement with UT-Battelle for continued research, development and demonstration of the American Centrifuge technology in furtherance of DOE’s national security objectives. The ACTDO Agreement is a firm fixed-price contract that provides for continued cascade operations at the Company’s Piketon, Ohio facility, testing at the K-1600 test facility in Oak Ridge, Tennessee, core American Centrifuge research and technology activities and the furnishing of related reports to ORNL. In July 2014 and again in January 2015, ORNL exercised its options to extend the period of performance for the ACTDO Agreement for additional six-month periods to September 30, 2015. The agreement is incrementally funded and currently provides for payments on a monthly basis of approximately $6.9 million per month. The two extensions have increased the total price to approximately $117 million for the period from May 1, 2014 to September 30, 2015. A bipartisan majority in Congress and the Administration supported maintaining the American Centrifuge technology for national and energy security purposes; funding for ACTDO Agreement activities was included in the government fiscal year 2015 omnibus appropriation signed by President Obama in December 2014. Further, the Administration’s budget request for government fiscal year 2016 includes $100 million for domestic uranium enrichment to maintain the current centrifuge program while the Administration finalizes its assessment of how best to meet U.S. national security and non-proliferation goals. Appropriations for government fiscal year 2016 will require further action from both Congress and the President. On May 1, 2015, the House of Representatives passed H.R. 2028, to provide energy and water development appropriations for government fiscal year 2016. This legislation would provide $50 million in direct appropriations for the domestic uranium enrichment program and contained a provision that would provide up to $50 million in special reprogramming authority for the program. As of July 31, 2015, the full Senate had not taken formal action on government fiscal year 2016 energy and water development appropriations. Milestones under the 2002 DOE-USEC Agreement The Company and DOE are parties to an agreement dated June 17, 2002, as amended (the “2002 DOE-USEC Agreement”), pursuant to which the Company and DOE made long-term commitments directed at resolving issues related to the stability and security of the domestic uranium enrichment industry. Pursuant to the Plan of Reorganization and with the consent of DOE, Centrus assumed the 2002 DOE-USEC Agreement subject to the parties reserving all rights under the agreement. The agreement provides that Centrus will develop, demonstrate and deploy advanced enrichment technology in accordance with milestones and provides for remedies in the event of a failure to meet a milestone under certain circumstances. The 2002 DOE-USEC Agreement provides DOE with specific remedies if Centrus fails to meet a milestone that would materially impact Centrus’ ability to begin commercial operations of the American Centrifuge Plant on schedule and such delay was within Centrus’ control or was due to Centrus’ fault or negligence. These remedies could include terminating the 2002 DOE-USEC Agreement, revoking Centrus’ access to DOE’s U.S. centrifuge technology that Centrus requires for the success of the American Centrifuge project and requiring Centrus to transfer certain of its rights in the American Centrifuge technology and facilities to DOE, and to reimburse DOE for certain costs associated with the American Centrifuge project. Any of these remedies under the 2002 DOE-USEC Agreement could have a material adverse impact on Centrus’ business. The 2002 DOE-USEC Agreement provides that if a delaying event beyond the control and without the fault or negligence of Centrus occurs that would affect Centrus’ ability to meet an American Centrifuge project milestone, DOE and Centrus will jointly meet to discuss in good faith possible adjustments to the milestones as appropriate to accommodate the delaying event. Centrus has notified DOE that it has not met the June 2014 milestone “Commitment to proceed with commercial operation” within the time period currently provided due to events beyond its control and without the fault or negligence of the Company. The assumption of the 2002 DOE-USEC Agreement provided for under the Plan of Reorganization did not impact the ability of either party to assert all rights, remedies and defenses under the agreement and all such rights, remedies and defenses are specifically preserved and all time limits tolled expressly including all rights, remedies and defenses and time limits relating to any missed milestones. DOE and Centrus have agreed that all rights, remedies and defenses of the parties with respect to any missed milestones since March 5, 2014, including the June 2014 and November 2014 milestones, and all other matters under the June 2002 Agreement continue to be preserved, and that the time limits for each party to respond to any missed milestones continue to be tolled. Potential ERISA Section 4062(e) Liability The Company has been in discussion with the PBGC and its financial advisor regarding the status of the qualified pension plans, including with respect to potential liability under ERISA Section 4062(e). On September 30, 2011, Enrichment Corp. completed the de-lease to DOE of the Portsmouth GDP and transition of employees performing government services work to DOE’s decontamination and decommissioning contractor. Enrichment Corp. notified the PBGC of this occurrence at that time. Further, at the end of May 2013, Enrichment Corp. ceased enrichment at the Paducah GDP and on October 21, 2014, completed the de-lease and return of the facility to DOE. In connection with the de-lease and return of the Paducah GDP to DOE, most of the remaining employees at the Paducah GDP were terminated. After receiving the Company’s notification of the transition of employees at the Portsmouth GDP in 2011, the PBGC staff at that time informally advised Enrichment Corp. of its preliminary view that the Portsmouth GDP transition was a cessation of operations that triggered liability under ERISA Section 4062(e) and that its preliminary estimate was that the ERISA Section 4062(e) liability (computed by taking into account the plan’s underfunding on a “termination basis,” which amount differs from that computed for GAAP purposes) for the Portsmouth GDP transition was approximately $130 million . At that time, Enrichment Corp. informed the PBGC that it did not agree with the PBGC staff’s view that ERISA Section 4062(e) liability was triggered in 2011, and also disputed the amount of the preliminary PBGC calculation of the potential ERISA Section 4062(e) liability. At the end of May 2013, the PBGC staff also informally advised Enrichment Corp. that the Paducah de-lease would be a cessation of operations under section 4062(e) when more than 20% of the Enrichment Corp.’s employees who are participants in a PBGC-covered pension plan were separated. The 20% reduction to the active plan participant threshold was reached at Paducah in April 2014. Subsequently, on December 16, 2014, the President signed into law the Consolidated and Further Continuing Appropriations Act, 2015 (the “CFCAA”), which made major changes to ERISA section 4062(e). The CFCAA changes the criteria for triggering liability under section 4062(e); provides certain exemptions from the applicability of section 4062(e) to certain events; permits companies to satisfy the liability by making payments into the pension over seven years, but ceases once the pension reaches a 90% funding level as calculated under the method provided in the CFCAA; subject to an exception not applicable here, prohibits the PBGC from taking any enforcement, administrative or other action under section 4062(e) that is inconsistent with the amendments made by the CFCAA based on events that occurred before the date of enactment (December 16, 2014); and permits companies to elect to satisfy any liability under section 4062(e) as provided in the CFCAA for an event that had occurred prior to date of enactment as if such cessation had occurred on such date of enactment. While the PBGC has not issued any guidance or rules regarding the implementation of the changes to section 4062(e), we believe that in the event the PBGC were to determine that a cessation of operations had occurred under section 4062(e) as a result of the Portsmouth GDP transition or the Paducah GDP transition (events that occurred before enactment of the CFCAA), the Company could elect to satisfy any section 4062(e) liability under the provisions of the CFCAA. As of January 1, 2014, (the first plan year for which payments would otherwise be required) the Enrichment Corp. pension plan was over 90% funded under the method used in the CFCAA. Consequently the Company believes that any such liability would be fully satisfied under the method provided in the CFCAA. The PBGC, however, has other authorities under ERISA that it may consider to address the Portsmouth and Paducah GDP transitions or otherwise in connection with the Company’s qualified defined benefit pension plans. These authorities include, but are not limited to, initiating involuntary termination of underfunded plans and seeking liens or additional funding. The Company would seek to defend against the assertion by the PBGC of any such authorities based on the facts and circumstances at the time. The involuntary termination by the PBGC of any of the qualified pension plans of Centrus or Enrichment Corp. would result in the termination of the limited, conditional guaranty by Enrichment Corp. of the PIK Toggle Notes (other than with respect to the unconditional interest claim). The Company has been engaged in discussions with the PBGC since the Portsmouth GDP transition. In 2014, prior to enactment of the CFCAA, the PBGC informed the Company that the PBGC had retained an outside financial advisor to advise the PBGC on the Company’s business and the need for and advisability of any actions that may be taken by the PBGC. The Company has continued discussions with PBGC and its financial advisor. The PBGC has indicated it would like to discuss the potential for the Company to make contributions to the pension in advance of statutory funding requirements as amended by the Highway and Transportation Funding Act of 2014. The Company believes it is in the best interest of all stakeholders, including the PBGC, the covered plan participants and the Company, to continue funding of the qualified pension plans in the ordinary course and expects to do so, but there is no assurance that the PBGC will agree with that approach. Legal Matters On December 31, 2014, our subsidiary, Enrichment Corp., submitted a demand for binding arbitration to Entergy Services, Inc. and Entergy Nuclear Fuels Company (together with Entergy Services, Inc., “Entergy”) to resolve a dispute regarding their alleged repudiation of two sales contracts (the “Contracts”) with Enrichment Corp. On July 29, 2015, Enrichment Corp. and Entergy entered into a Confidential Settlement Agreement (the “Settlement Agreement”) that resolved the arbitration through modifications to the Contracts. No monetary awards or payments will be made with respect to the Settlement Agreement. The Settlement Agreement represents a full and final resolution of the dispute related to the Contracts. We are currently evaluating the impact of the Settlement Agreement, if any, on our financial condition, primarily related to the non-cash intangible assets recorded through the application of fresh-start accounting on September 30, 2014. Centrus is subject to various legal proceedings and claims, either asserted or unasserted, which arise in the ordinary course of business. While the outcome of these claims cannot be predicted with certainty, Centrus does not believe that the outcome of any of these legal matters will have a material adverse effect on its results of operations or financial condition.

Accumulated Other Comprehensive

Accumulated Other Comprehensive Income (Loss) Accumulated Other Comprehensive Income (Loss) (Notes)	6 Months Ended
	Jun. 30, 2015
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
Accumulated Other Comprehensive Income (Loss)	ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) The sole component of accumulated other comprehensive income (loss) (“AOCI”) relates to activity in the accounting for pension and postretirement health and life benefit plans. Amortization of actuarial (gains) losses, net, and amortization of prior service costs (credits), net, are items reclassified from AOCI and included in the computation of net periodic benefit cost (credit) as detailed in Note 10, Pension and Postretirement Health and Life Benefits .

Segment Information

Segment Information	6 Months Ended
	Jun. 30, 2015
Segment Reporting Information, Revenue for Reportable Segment [Abstract]
Segment Information	SEGMENT INFORMATION Centrus has two reportable segments: the LEU segment with two components, SWU and uranium, and the contract services segment. The LEU segment includes sales of the SWU component of LEU, sales of both the SWU and uranium components of LEU, and sales of uranium. The contract services segment includes revenue and cost of sales for work that Centrus performs under the fixed-price ACTDO Agreement as a subcontractor to UT-Battelle beginning May 1, 2014. The contract services segment also includes limited services provided by Centrus to DOE and its contractors at the Portsmouth site related to facilities we continue to lease for the American Centrifuge Plant and formerly at the Paducah GDP. Gross profit is Centrus’ measure for segment reporting. There were no intersegment sales in the periods presented. Three Months Ended June 30, Six Months Ended June 30, Successor Predecessor Successor Predecessor (in millions) 2015 2014 2015 2014 Revenue LEU segment: Separative work units $ 42.2 $ 104.5 $ 145.8 $ 250.1 Uranium — — 43.2 — 42.2 104.5 189.0 250.1 Contract services segment 21.1 16.7 42.1 19.7 Revenue $ 63.3 $ 121.2 $ 231.1 $ 269.8 Segment Gross Profit (Loss) LEU segment $ 5.5 $ 3.7 $ 12.7 $ (16.0 ) Contract services segment (1.2 ) (0.2 ) (1.5 ) (1.4 ) Gross profit (loss) $ 4.3 $ 3.5 $ 11.2 $ (17.4 )

Transition Charges Transition C

Transition Charges Transition Charges (Tables)	6 Months Ended
	Jun. 30, 2015
Restructuring and Related Activities [Abstract]
Special Charges Summary [Table Text Block]	A summary of special charges and changes in the related balance sheet accounts in the six months ended June 30, 2015 follows (in millions): Liability Balance to Be Paid, Dec. 31, 2014 Six Months Ended June 30, 2015 Liability Balance to Be Paid, June 30, 2015 Special Charges Paid Workforce reductions, primarily severance payments $ 2.4 $ 3.8 $ (3.8 ) $ 2.4 Less: Amounts billed to DOE (0.3 ) Special charges for workforce reductions $ 3.5

Accounts Receivable (Tables)

Accounts Receivable (Tables)	6 Months Ended
	Jun. 30, 2015
Accounts Receivable, Net, Current [Abstract]
Schedule of Accounts Receivable	June 30, December 31, (millions) Utility customers and other $ 11.9 $ 36.3 Contract services, primarily DOE 15.2 22.6 Accounts receivable, net $ 27.1 $ 58.9

Inventories (Tables)

Inventories (Tables)	6 Months Ended
	Jun. 30, 2015
Inventory, Net [Abstract]
Schedule of Inventories	Components of inventories follow (in millions): June 30, 2015 December 31, 2014 Current Assets Current Liabilities (a) Inventories, Net Current Assets Current Liabilities (a) Inventories, Net Separative work units $ 285.7 $ 99.1 $ 186.6 $ 330.6 $ 76.6 $ 254.0 Uranium 98.9 100.5 (1.6 ) 131.4 82.3 49.1 Materials and supplies 0.2 — 0.2 0.2 — 0.2 $ 384.8 $ 199.6 $ 185.2 $ 462.2 $ 158.9 $ 303.3 (a) Inventories owed to customers and suppliers, included in current liabilities, consist primarily of SWU and uranium inventories owed to fabricators.

Property, Plant and Equipment25

Property, Plant and Equipment Property, Plant and Equipment (Tables)	6 Months Ended
	Jun. 30, 2015
Property, Plant and Equipment [Abstract]
Property, Plant and Equipment	June 30, December 31, (millions) Property, plant and equipment, gross $ 3.7 $ 3.7 Accumulated depreciation (0.3 ) (0.2 ) Property, plant and equipment, net $ 3.4 $ 3.5

Intangible Assets (Tables)

Intangible Assets (Tables)	6 Months Ended
	Jun. 30, 2015
Intangible Assets Disclosure [Abstract]
Schedule of Intangible Assets and Excess Reorganization Value [Table Text Block]	June 30, December 31, (millions) Amortizable intangible assets: Backlog $ 54.6 $ 54.6 Customer relationships 68.9 68.9 Amortizable intangible assets, gross $ 123.5 $ 123.5 Accumulated amortization (10.3 ) (4.3 ) Amortizable intangible assets, net $ 113.2 $ 119.2 Nonamortizable intangible assets: Excess reorganizational value $ 137.2 $ 137.2

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	6 Months Ended
	Jun. 30, 2015
Fair Value Disclosures [Abstract]
Schedule of Financial Instruments Recorded at Fair Value	Financial Instruments Recorded at Fair Value (in Millions) June 30, 2015 December 31, 2014 Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total Assets: Deferred compensation asset (a) — $ 1.4 — $ 1.4 — $ 3.2 — $ 3.2 Liabilities: Deferred compensation obligation (a) — 1.1 — 1.1 — 3.0 — 3.0 (a) The deferred compensation obligation represents the balance of deferred compensation plus net investment earnings. The deferred compensation plan is informally funded through a rabbi trust using variable universal life insurance. The cash surrender value of the life insurance policies is designed to track the deemed investments of the plan participants. Investment crediting options consist of institutional and retail investment funds. The deemed investments are classified within Level 2 of the valuation hierarchy because (i) of the indirect method of investing and (ii) unit prices of institutional funds are not quoted in active markets.

Pension and Postretirement He28

Pension and Postretirement Health and Life Benefits (Tables)	6 Months Ended
	Jun. 30, 2015
General Discussion of Pension and Other Postretirement Benefits [Abstract]
Schedule of Net Benefit Costs	The components of net periodic benefit cost (credit) for the pension plans were as follows (in millions): Three Months Ended June 30, Six Months Ended June 30, Successor Predecessor Successor Predecessor 2015 2014 2015 2014 Service costs $ 1.0 $ 0.6 $ 2.0 $ 1.2 Interest costs 9.3 10.6 18.6 21.1 Expected return on plan assets (gains) (12.2 ) (12.8 ) (24.4 ) (25.6 ) Amortization of actuarial (gains) losses, net — 0.3 — 0.6 Actuarial (gain) from remeasurement (3.9 ) — (3.9 ) — Net periodic benefit cost (credit) $ (5.8 ) $ (1.3 ) $ (7.7 ) $ (2.7 ) The components of net periodic benefit cost for the postretirement health and life benefit plans were as follows (in millions): Three Months Ended June 30, Six Months Ended June 30, Successor Predecessor Successor Predecessor 2015 2014 2015 2014 Service costs $ — $ 0.4 $ 0.1 $ 0.9 Interest costs 2.2 2.5 4.4 5.0 Expected return on plan assets (gains) (0.3 ) (0.5 ) (0.5 ) (1.0 ) Amortization of prior service costs (credits), net — (0.1 ) (0.1 ) (0.2 ) Net periodic benefit cost $ 1.9 $ 2.3 $ 3.9 $ 4.7

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	6 Months Ended
	Jun. 30, 2015
Share-based Compensation [Abstract]
Schedule of Compensation Cost for Share-based Payment Arrangements, Allocation of Share-based Compensation Costs by Plan [Table Text Block]	Three Months Ended June 30, Six Months Ended June 30, Successor Predecessor Successor Predecessor 2015 2014 2015 2014 Total stock-based compensation costs: Restricted stock and restricted stock units $ — $ 0.2 $ 0.1 $ 0.5 Stock options, performance awards and other 0.1 — 0.1 — Expense included primarily in selling, general and administrative expense $ 0.1 $ 0.2 $ 0.2 $ 0.5 Total recognized tax benefit $ — $ — $ — $ —
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block]	Assumptions used to value option grants in the six months ended June 30, 2015 follow: Risk-free interest rate 1.91% Expected volatility 75% Expected option life (years) 6 Weighted-average grant date fair value $2.89

Net Income Per Share (Tables)

Net Income Per Share (Tables)	6 Months Ended
	Jun. 30, 2015
Earnings Per Share [Abstract]
Schedule of Net Income Per Share	Three Months Ended June 30, Six Months Ended June 30, Successor Predecessor Successor Predecessor (in millions, except per share amounts) 2015 2014 2015 2014 Numerators for basic and diluted calculations (a): Net (loss) $ (15.1 ) $ (28.0 ) $ (30.5 ) $ (78.8 ) Denominator: Weighted average common shares 9.0 5.0 9.0 5.0 Less: Weighted average unvested restricted stock — 0.1 — 0.1 Denominator for basic calculation 9.0 4.9 9.0 4.9 Weighted average effect of dilutive securities: Stock compensation awards (b) — — — — Convertible notes — 1.8 — 1.8 Convertible preferred stock: Equivalent common shares — 28.6 — 22.9 Less: share issuance limitation (c) — 27.7 — 22.0 Net allowable common shares — 0.9 — 0.9 Subtotal — 2.7 — 2.7 Less: shares excluded in a period of a net loss — 2.7 — 2.7 Weighted average effect of dilutive securities — — — — Denominator for diluted calculation 9.0 4.9 9.0 4.9 Net (loss) per share - basic and diluted $ (1.68 ) $ (5.71 ) $ (3.39 ) $ (16.08 )
Schedule of Securities Excluded from Net Income Per Share	Three Months Ended June 30, Six Months Ended June 30, Successor Predecessor Successor Predecessor 2015 2014 2015 2014 Options excluded from diluted net income per share 75,000 200 75,000 200 Warrants excluded from diluted net income per share N/A 250,000 N/A 250,000 Exercise price of excluded options $ 5.62 $ 283.25 to $ 5.62 $ 283.25 to $ 357.00 $ 357.00 Exercise price of excluded warrants N/A $ 187.50 N/A $ 187.50

Segment Information (Tables)

Segment Information (Tables)	6 Months Ended
	Jun. 30, 2015
Segment Reporting Information, Revenue for Reportable Segment [Abstract]
Segment Reporting Information	Three Months Ended June 30, Six Months Ended June 30, Successor Predecessor Successor Predecessor (in millions) 2015 2014 2015 2014 Revenue LEU segment: Separative work units $ 42.2 $ 104.5 $ 145.8 $ 250.1 Uranium — — 43.2 — 42.2 104.5 189.0 250.1 Contract services segment 21.1 16.7 42.1 19.7 Revenue $ 63.3 $ 121.2 $ 231.1 $ 269.8 Segment Gross Profit (Loss) LEU segment $ 5.5 $ 3.7 $ 12.7 $ (16.0 ) Contract services segment (1.2 ) (0.2 ) (1.5 ) (1.4 ) Gross profit (loss) $ 4.3 $ 3.5 $ 11.2 $ (17.4 )

Basis of Presentation (Narrativ

Basis of Presentation (Narrative) (Details)	Sep. 30, 2014
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Plan of Reorganization Acceptance Rate	99.00%

Transition Charges (Narrative)(

Transition Charges (Narrative)(Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014	Dec. 31, 2014
Restructuring Cost and Reserve [Line Items]
Direct charges	$ 3.9	$ 14.3	$ 8.6	$ 49.2
Operating expenses	3.9	8.7	8.3	35.7
Inventory Valuation Adjustments		5.1	0.3	11.7
Accelerated property, plant and equipment expenses		$ 0.5		$ 1.8
Restructuring Liability Balance	$ 2.4		2.4		$ 2.4
DOE Share of Paducah Termination Benefit Costs			(0.3)
Special charges for workforce reductions and advisory costs			3.5
Cash Payable [Member]
Restructuring Cost and Reserve [Line Items]
One-time termination benefit costs			3.8
Severance [Member]
Restructuring Cost and Reserve [Line Items]
Payments for one-time termination benefits			$ (3.8)

Advanced Technology Costs and34

Advanced Technology Costs and Other Income (Narrative) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015
Maximum RD&D Program Funding by DOE		$ 280
RD&D Program Funding by DOE		80.00%
RD&D Program Funding by USEC		20.00%
Other advanced technology costs	$ 4	$ 7	$ 5.8

Accounts Receivable (Details)

Accounts Receivable (Details) - USD ($) $ in Millions	Jun. 30, 2015	Dec. 31, 2014
Accounts Receivable, Net, Current [Abstract]
Utility Customer Receivables	$ 11.9	$ 36.3
Contract Services Customer Receivables	15.2	22.6
Accounts Receivable, Net	$ 27.1	$ 58.9

Accounts Receivable (Narrative)

Accounts Receivable (Narrative) (Details) - USD ($) $ in Millions	Jun. 30, 2015	Dec. 31, 2014
Accounts, Notes, Loans and Financing Receivable [Line Items]
Valuation allowance and allowance for doubtful accounts	$ 0.6	$ 0.6
Other long-term liabilities	53.7	54.6
Government [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accounts Receivable, Gross, Noncurrent	75	75
Accounts Receivable, Net, Noncurrent	19.9	19.9
Other long-term liabilities	$ 19.5	$ 19.6

Inventories (Details)

Inventories (Details) - USD ($) $ in Millions	Jun. 30, 2015	Dec. 31, 2014
Inventory [Line Items]
Separative work units inventory	$ 285.7	$ 330.6
Uranium inventory	98.9	131.4
Materials and supplies	0.2	0.2
Inventories	384.8	462.2
Separative work units owed to customers and suppliers	99.1	76.6
Uranium owed to customers and suppliers	100.5	82.3
Inventories owed to customers and suppliers	199.6	158.9
Separative work units net of liability	186.6	254
Uranium inventory net of liability	(1.6)	49.1
Inventories, net	$ 185.2	$ 303.3

Inventories (Narrative) (Detail

Inventories (Narrative) (Details) - USD ($) $ in Billions	Jun. 30, 2015	Dec. 31, 2014
Inventory, Net [Abstract]
Inventories provided by customers and suppliers	$ 0.5	$ 0.6

Property, Plant and Equipment39

Property, Plant and Equipment Property, Plant and Equipment (Tables) (Details) - USD ($) $ in Millions	Jun. 30, 2015	Dec. 31, 2014
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	$ 3.7	$ 3.7
Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment	(0.3)	(0.2)
Property, Plant and Equipment, Net	$ 3.4	$ 3.5

Intangible Assets Schedule of I

Intangible Assets Schedule of Intangible Assets and Excess Reorganization Value (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2015	Dec. 31, 2014
Finite-Lived Intangible Assets [Line Items]
Amortizable intangible assets, gross	$ 123.5	$ 123.5
Accumulated intangible asset amortization	(10.3)	(4.3)
Amortizable intangible assets, net	113.2	119.2
Excess reorganization value	$ 137.2	137.2
Average useful life of finite-lived intangible assets	15 years
Contract-Based Intangible Assets [Member]
Finite-Lived Intangible Assets [Line Items]
Amortizable intangible assets, gross	$ 54.6	54.6
Customer-Related Intangible Assets [Member]
Finite-Lived Intangible Assets [Line Items]
Amortizable intangible assets, gross	$ 68.9	$ 68.9

Debt (Narrative) (Details)

Debt (Narrative) (Details) - USD ($) $ in Millions	6 Months Ended
	Dec. 31, 2015	Mar. 31, 2015	Jun. 30, 2015	Dec. 31, 2014	Sep. 30, 2014
Long-term debt			$ 244	$ 240.4
Paid-in-Kind Interest		$ 3.6
Interest Paid		$ 6
Interest Payable, Current			4.9
Deferred Finance Costs, End Balance			0.6	$ 0.7
Scenario, Forecast [Member]
Paid-in-Kind Interest	$ 1.8
Interest Paid	$ 3.1
PIK toggle notes [Member]
Long-term debt			$ 244		$ 240.4
Debt instrument interest rate			8.00%
Debt Interest Rate, PIK			3.00%
Maximum [Member] | PIK toggle notes [Member]
Debt Interest Rate, PIK			5.50%

Fair Value Measurements (Financ

Fair Value Measurements (Financial Instruments Recorded at Fair Value) (Details) - USD ($) $ in Millions	Jun. 30, 2015	Dec. 31, 2014
Deferred compensation asset	$ 1.4	$ 3.2
Deferred compensation obligation	1.1	3
Level 2 [Member]
Deferred compensation asset	1.4	3.2
Deferred compensation obligation	$ 1.1	$ 3

Fair Value Measurements (Debt)

Fair Value Measurements (Debt) (Details) - USD ($) $ in Millions	Jun. 30, 2015	Dec. 31, 2014
Fair Value Disclosures [Abstract]
Long-term debt, fair value	$ 96.7	$ 121.2

Pension and Postretirement He44

Pension and Postretirement Health and Life Benefits (Narrative) (Details) - USD ($) $ in Millions	3 Months Ended	6 Months Ended
	Jun. 30, 2015	Dec. 31, 2015	Jun. 30, 2015	Dec. 31, 2014
Defined Benefit Plan, Contributions by Employer			$ 7.4
Defined Benefit Plan, Actuarial Gain (Loss)	$ 3.9		$ 3.9
Defined Benefit Plan, Assumptions Used Calculating Benefit Obligation, Discount Rate	4.50%		4.50%	4.10%
Scenario, Forecast [Member]
Expected defined benefit plan contributions for next fiscal year for non-qualified plans		$ 1
Non-qualified defined benefit pension plans [Member]
Defined Benefit Plan, Lump Sum Benefits Paid			$ 7.3
Employees' Retirement Plan of Centrus Energy Corp. [Member]
Defined Benefit Plan, Lump Sum Benefits Paid			3.1
Retirement Program Plan for Employees of United States Enrichment Corporation [Member]
Defined Benefit Plan, Lump Sum Benefits Paid			$ 37.9

Pension and Postretirement He45

Pension and Postretirement Health and Life Benefits (Schedule of Net Benefit Costs) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Actuarial (gain) from remeasurement	$ (3.9)		$ (3.9)
Pension Plan, Defined Benefit [Member] | Successor [Member]
Service costs	1		2
Interest costs	9.3		18.6
Expected return on plan assets (gains)	(12.2)		(24.4)
Amortization of actuarial (gains) losses, net	0		0
Actuarial (gain) from remeasurement	(3.9)		(3.9)
Net periodic benefit cost (credit)	(5.8)		(7.7)
Pension Plan, Defined Benefit [Member] | Predecessor [Member]
Service costs		$ 0.6		$ 1.2
Interest costs		10.6		21.1
Expected return on plan assets (gains)		(12.8)		(25.6)
Amortization of actuarial (gains) losses, net		(0.3)		(0.6)
Actuarial (gain) from remeasurement		0		0
Net periodic benefit cost (credit)		(1.3)		(2.7)
Postretirement Health and Life Benefits Plans [Member] | Successor [Member]
Service costs	0		0.1
Interest costs	2.2		4.4
Expected return on plan assets (gains)	(0.3)		(0.5)
Amortization of prior service costs (credits), net	0		(0.1)
Net periodic benefit cost (credit)	$ 1.9		$ 3.9
Postretirement Health and Life Benefits Plans [Member] | Predecessor [Member]
Service costs		0.4		0.9
Interest costs		2.5		5
Expected return on plan assets (gains)		(0.5)		(1)
Amortization of prior service costs (credits), net		(0.1)		(0.2)
Net periodic benefit cost (credit)		$ 2.3		$ 4.7

Stock-Based Compensation (Narra

Stock-Based Compensation (Narrative) (Details) - Jun. 30, 2015 - USD ($) $ in Millions	Total
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized	$ 1
Weighted-average period in years of costs to be recognized	3 years
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross	300,000
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period	10 years
Employee Stock Option [Member]
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized	$ 0.8
Restricted Stock Units (RSUs) [Member]
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized	$ 0.2

Stock-Based Compensation (Stock

Stock-Based Compensation (Stock-Based Compensation Costs) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Share-based Compensation [Abstract]
Restricted Stock or Unit Expense	$ 0	$ 0.2	$ 0.1	$ 0.5
Stock or Unit Option Plan Expense	0.1	0	0.1	0
Allocated Share-based Compensation Expense	$ 0.1	$ 0.2	$ 0.2	$ 0.5

Stock-Based Compensation Stock-

Stock-Based Compensation Stock-Based Compensation (Assumptions Used in the Black-Scholes Option Pricing Model) (Details) - 6 months ended Jun. 30, 2015 - $ / shares	Total
Share-based Compensation [Abstract]
Share-based Goods and Nonemployee Services Transaction, Valuation Method, Risk Free Interest Rate	1.91%
Share-based Goods and Nonemployee Services Transaction, Valuation Method, Expected Volatility Rate	75.00%
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Term, Simplified Method	P6Y
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value	$ 2.89

Net Income Per Share (Narrative

Net Income Per Share (Narrative) (Details) - Jun. 30, 2014 - USD ($) $ in Millions	Total	Total
Convertible Debt [Member]
Debt Instrument [Line Items]
Interest expense	$ 3	$ 6

Net Income Per Share (Schedule

Net Income Per Share (Schedule of Income Per Share) (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Convertible Debt [Member]
Debt Instrument [Line Items]
Interest expense		$ 3		$ 6
Successor [Member]
Debt Instrument [Line Items]
Net income (loss)	$ (15.1)		$ (30.5)
Interest expense	$ 4.9		$ 9.8
Weighted average common shares	9		9
Denominator for basic calculation	9		9
Weighted Average Number of Shares Outstanding, Basic and Diluted	9		9
Net (loss) per share - basic and diluted	$ (1.68)		$ (3.39)
Predecessor [Member]
Debt Instrument [Line Items]
Net income (loss)		(28)		(78.8)
Interest expense		$ 4.7		$ 9.3
Weighted average common shares		5		5
Less: Weighted average unvested restricted stock		0.1		0.1
Denominator for basic calculation		4.9		4.9
Convertible notes		1.8		1.8
Convertible preferred stock - equivalent common shares		28.6		22.9
Convertible preferred stock - less: share issuance limitation		27.7		22
Convertible preferred stock - net allowable shares		0.9		0.9
Subtotal		2.7		2.7
Less: shares excluded in a period of net loss or antidilution		2.7		2.7
Weighted average effect of dilutive securities		0		0
Weighted Average Number of Shares Outstanding, Basic and Diluted		4.9		4.9
Net (loss) per share - basic and diluted		$ (5.71)		$ (16.08)

Net Income Per Share Net Income

Net Income Per Share Net Income Per Share (Schedule of Securities Excluded from Net Income Per Share) (Details) - $ / shares	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Options excluded from diluted net income per share	75,000	200	75,000	200
Warrants excluded from diluted net income per share		250,000		250,000
Exercise price of excluded options	$ 5.62		$ 5.62
Exercise price of excluded warrants		$ 187.50		$ 187.50
Minimum [Member]
Exercise price of excluded options		283.25		283.25
Maximum [Member]
Exercise price of excluded options		$ 357		$ 357

Commitment and Contingencies (D

Commitment and Contingencies (Details) - USD ($) $ in Millions	12 Months Ended		17 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2015	Jun. 30, 2015
PBGC preliminary estimate of ERISA liability				$ 130
PBGC threshold for reduction in active plan participants				20.00%
CFCAA funding threshold related to liability under ERISA				90.00%
Scenario, Forecast [Member]
FY16 budget request for centrifuge program	$ 100
FY16 House bill for direct appropriations for centrifuge program	50
FY16 House bill for reprogramming authority for centrifuge program	$ 50
ACTDO DOE Funding – Monthly		$ 6.9
ACTDO DOE Funding			$ 117

Segment Information (Segment Re

Segment Information (Segment Reporting Information) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Successor [Member]
Revenues [Abstract]
Separative work units	$ 42.2		$ 145.8
Uranium	0		43.2
Revenue from low enriched uranium segment	42.2		189
Contract services	21.1		42.1
Total Revenue	63.3		231.1
LEU segment gross profit	5.5		12.7
Contract services segment gross profit	(1.2)		(1.5)
Gross profit	$ 4.3		$ 11.2
Predecessor [Member]
Revenues [Abstract]
Separative work units		$ 104.5		$ 250.1
Uranium		0		0
Revenue from low enriched uranium segment		104.5		250.1
Contract services		16.7		19.7
Total Revenue		121.2		269.8
LEU segment gross profit		3.7		(16)
Contract services segment gross profit		(0.2)		(1.4)
Gross profit		$ 3.5		$ (17.4)