Centrus Energy (LEU) 10-Q 12 Nov 21 2021 Q3 Quarterly report Financial data

Cover

Cover - shares	9 Months Ended
	Sep. 30, 2021	Nov. 01, 2021
Document Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2021
Document Transition Report	false
Entity File Number	1-14287
Entity Registrant Name	Centrus Energy Corp.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	52-2107911
Entity Address, Address Line One	6901 Rockledge Drive,
Entity Address, Address Line Two	Suite 800,
Entity Address, City or Town	Bethesda
Entity Address, State or Province	MD
Entity Address, Postal Zip Code	20817
City Area Code	301
Local Phone Number	564-3200
Title of 12(b) Security	Class A Common Stock, par value $0.10 per share
Trading Symbol	LEU
Security Exchange Name	NYSEAMER
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Central Index Key	0001065059
Current Fiscal Year End Date	--12-31
Amendment Flag	false
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q3
Common Class A [Member]
Document Information [Line Items]
Entity Common Stock, Shares Outstanding (in shares)		13,298,103
Common Class B [Member]
Document Information [Line Items]
Entity Common Stock, Shares Outstanding (in shares)		719,200

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Sep. 30, 2021	Dec. 31, 2020
Current Assets
Cash and cash equivalents	$ 171	$ 152
Accounts receivable, net	16.9	29.6
Inventories	80	64.8
Deferred costs associated with deferred revenue	137.2	151.9
Other current assets	9.1	7.8
Total current assets	414.2	406.1
Property, Plant and Equipment, Net	5.3	4.9
Deposits for surety bonds	5.7	5.7
Intangible assets	57.4	62.8
Other long-term assets	4.6	6.8
Total Assets	487.2	486.3
Current Liabilities
Accounts payable and accrued liabilities	44.7	50.6
Payables under SWU purchase agreements	2.2	21.3
Inventories owed to customers and suppliers	7	4.9
Deferred revenue	275.2	283.2
Current debt	6.1	6.1
Total current liabilities	335.2	366.1
Long-term debt	101.8	108
Postretirement health and life benefit obligations	124.3	130.8
Pension benefit liabilities	75.9	124.4
Advances from customer, noncurrent	45.1	45.2
Other long-term liabilities	34	32.4
Total liabilities	716.3	806.9
Commitments and contingencies (Note 11)
Stockholders' Deficit
Excess of capital over par value	125.4	85
Accumulated deficit	(356.5)	(407.7)
Accumulated other comprehensive income (loss), net of tax	0.5	0.8
Total stockholders' deficit	(229.1)	(320.6)
Total Liabilities and Stockholders’ Equity (Deficit)	487.2	486.3
Preferred Series B [Member]
Stockholders' Deficit
Preferred stock	0.1	0.1
Common Class A [Member]
Stockholders' Deficit
Common stock	1.3	1.1
Common Class B [Member]
Stockholders' Deficit
Common stock	$ 0.1	$ 0.1

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($)	9 Months Ended
	Sep. 30, 2021	Dec. 31, 2020
Preferred Stock, Par Value Per Share	$ 1	$ 1
Preferred Stock, Shares Authorized	20,000,000	20,000,000
Accumulated Depreciation, Property, Plant, and Equipment	$ 2,800,000	$ 2,700,000
Preferred Series B [Member]
Preferred Stock, Dividend Rate, Percentage	7.50%
Preferred Stock, Shares Issued	37,847	41,720
Preferred Stock, Liquidation Preference, Value	$ 51,000,000	$ 53,900,000
Common Class A [Member]
Common Stock, Par or Stated Value Per Share	$ 0.10	$ 0.10
Common Stock, Shares Authorized	70,000,000	70,000,000
Common Stock, Shares, Issued	13,286,103	11,390,189
Common Class B [Member]
Common Stock, Par or Stated Value Per Share	$ 0.10	$ 0.10
Common Stock, Shares Authorized	30,000,000	30,000,000
Common Stock, Shares, Issued	719,200	719,200

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Revenue from Contract with Customer, Excluding Assessed Tax	$ 91.3	$ 33.6	$ 209.3	$ 154.3
Revenue	91.3	33.6	209.3	154.3
Cost of sales	41.8	34.4	131	91.7
Gross profit (loss)	49.5	(0.8)	78.3	62.6
Advanced technology license and decommissioning costs	0.6	0.2	1.3	1.8
Selling, general and administrative	9	6.7	25	25.6
Amortization of intangible assets	1.7	1.2	5.4	4.3
Special charges for workforce reductions	0	0.6	0	0.5
Operating income (loss)	38.2	(9.5)	46.6	30.4
Nonoperating components of net periodic benefit expense (income)	(4.3)	(2.2)	(12.9)	(6.6)
Interest expense	0	0	0	0.1
Investment income	0	(0.1)	0	(0.5)
Income (loss) before income taxes	42.5	(7.2)	59.5	37.4
Provision (benefit) for income taxes	0.4	(0.2)	0.7	(0.6)
Net income (loss)	42.1	(7)	58.8	38
Preferred stock dividends, undeclared and cumulative	0.7	1.9	2.1	5.9
Distributed earnings allocable to retired preferred shares	0	0	6.6	0
Net income (loss) allocable to common stockholders	$ 41.4	$ (8.9)	$ 50.1	$ 32.1
Net income (loss) per common share - basic	$ 3.01	$ (0.83)	$ 3.75	$ 3.21
Net income (loss) per common share - diluted	$ 2.95	$ (0.83)	$ 3.66	$ 3.12
Weighted-average number of shares outstanding:
Average number of shares outstanding, basic	13,741	10,723	13,365	10,008
Average number of shares outstanding, diluted	14,056	10,723	13,702	10,282
Separative Work Units [Member]
Revenue from Contract with Customer, Excluding Assessed Tax	$ 19.1	$ 0.1	$ 102.4	$ 89.4
Uranium [Member]
Revenue from Contract with Customer, Excluding Assessed Tax	12.9	18.6	12.9	23.4
Product [Member]
Revenue from Contract with Customer, Excluding Assessed Tax	32	18.7	115.3	112.8
Cost of sales	23.7	19.6	76.1	51.8
Service [Member]
Revenue from Contract with Customer, Excluding Assessed Tax	59.3	14.9	94	41.5
Cost of sales	$ 18.1	$ 14.8	$ 54.9	$ 39.9

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020
Cash Flows from Operating Activities
Net income (loss)	$ 58.8	$ 38
Adjustments to reconcile net income (loss) to net cash (used in) operating activities:
Depreciation and amortization	5.8	4.7
Revaluation of inventory borrowing	4.8	0
Changes in operating assets and liabilities:
Accounts receivable – (increase) decrease	12.7	7
Inventories, net – (increase) decrease	2.2	17.1
Accounts payable and other liabilities – increase (decrease)	7.2	(0.3)
Payables under SWU purchase agreements – increase (decrease)	(19)	(8.1)
Deferred revenue, net of deferred costs – increase (decrease)	(8.6)	(17.5)
Accrued loss on long-term contract, increase (decrease)	(6.5)	(8.7)
Pension and postretirement liabilities - increase (decrease)	(55.3)	(28.1)
Other, net	(1.3)	1.1
Net Cash (Used in) Operating Activities	0.8	5.2
Cash Flows Provided by Investing Activities
Capital expenditures	(0.7)	(0.9)
Net Cash Provided by (Used in) Investing Activities	(0.7)	(0.9)
Cash Flows Used in Financing Activities
Proceeds from the sale of common stock, net	27.2	23.8
Payment of interest classified as debt	(6.1)	(6.1)
Exercise of stock options	0.5	0.2
Payments of equity issuance costs	(0.3)	(0.1)
Payment, Tax Withholding, Share-based Payment Arrangement	(2.4)	0
Net Cash (Used in) Financing Activities	18.9	17.8
Decrease in cash, cash equivalents and restricted cash	19	22.1
Cash, cash equivalents and restricted cash, start of period	157.9	136.6
Cash, cash equivalents and restricted cash, end of period	176.9	158.7
Supplemental Cash Flow Information:
Conversion of interest payable-in-kind to long-term debt	7.5	0
Disposal of right to use lease assets for early termination [Member]
Supplemental Cash Flow Information:
Other Significant Noncash Transaction, Value of Consideration Given	(1)	0
Reclassification of stock-based compensation liability to equity [Member]
Supplemental Cash Flow Information:
Other Significant Noncash Transaction, Value of Consideration Given	(7.5)	0
Equity issuance costs included in accounts payable and accrued liabilities [Member]
Supplemental Cash Flow Information:
Other Significant Noncash Transaction, Value of Consideration Given	(0.1)	(0.7)
Property, plant and equipment included in accounts payable and accrued liabilities [Member]
Supplemental Cash Flow Information:
Other Significant Noncash Transaction, Value of Consideration Given	$ (0.4)	$ (0.1)

CONSOLIDATED STATEMENTS OF STOC

CONSOLIDATED STATEMENTS OF STOCKHOLDERS' DEFICIT - USD ($)	Total	Preferred Stock [Member]	Preferred Stock [Member]Preferred Series B [Member]	Common Stock [Member]Common Class A [Member]	Common Stock [Member]Common Class B [Member]	Excess of Capital over Par Value [Member]	Accumulated Deficit [Member]	Accumulated Other Comprehensive Income (Loss) [Member]
Beginning Balance at Dec. 31, 2019	$ (336,900,000)	$ 4,600,000		$ 800,000	$ 100,000	$ 61,500,000	$ (405,000,000)	$ 1,100,000
Net income (loss)	11,300,000						11,300,000
Shares Issued, Value, Share-based Payment Arrangement, after Forfeiture	200,000					300,000		(100,000)
Ending Balance at Mar. 31, 2020	(325,400,000)		$ 4,600,000	800,000	100,000	61,800,000	(393,700,000)	1,000,000
Beginning Balance at Dec. 31, 2019	(336,900,000)	4,600,000		800,000	100,000	61,500,000	(405,000,000)	1,100,000
Net income (loss)	38,000,000
Ending Balance at Sep. 30, 2020	(275,600,000)		4,600,000	1,100,000	100,000	84,800,000	(367,000,000)	800,000
Beginning Balance at Mar. 31, 2020	(325,400,000)		4,600,000	800,000	100,000	61,800,000	(393,700,000)	1,000,000
Net income (loss)	33,700,000						33,700,000
Shares Issued, Value, Share-based Payment Arrangement, after Forfeiture	0					100,000		(100,000)
Ending Balance at Jun. 30, 2020	(291,700,000)		4,600,000	800,000	100,000	61,900,000	(360,000,000)	900,000
Net income (loss)	(7,000,000)						(7,000,000)
Stock issued during period	23,100,000			300,000		22,800,000
Shares Issued, Value, Share-based Payment Arrangement, after Forfeiture	0					100,000		(100,000)
Ending Balance at Sep. 30, 2020	(275,600,000)		$ 4,600,000	1,100,000	100,000	84,800,000	(367,000,000)	800,000
Beginning Balance at Dec. 31, 2020	(320,600,000)	100,000		1,100,000	100,000	85,000,000	(407,700,000)	800,000
Net income (loss)	5,100,000						5,100,000
Stock issued during period	23,800,000			100,000		23,700,000
Receivable from issuance of stock	(700,000)					(700,000)
Exchange of preferred stock for common stock and common stock warrant	(100,000)					7,500,000	(7,600,000)
Reclassification of stock-based compensation liability to equity	7,500,000					7,500,000
Shares Issued, Value, Share-based Payment Arrangement, after Forfeiture	200,000					300,000
Ending Balance at Mar. 31, 2021	(284,800,000)	100,000		1,200,000	100,000	123,300,000	(410,200,000)	700,000
Beginning Balance at Dec. 31, 2020	(320,600,000)	100,000		1,100,000	100,000	85,000,000	(407,700,000)	800,000
Net income (loss)	58,800,000
Ending Balance at Sep. 30, 2021	(229,100,000)	100,000		1,300,000	100,000	125,400,000	(356,500,000)	500,000
Beginning Balance at Mar. 31, 2021	(284,800,000)	100,000		1,200,000	100,000	123,300,000	(410,200,000)	700,000
Net income (loss)	11,600,000						11,600,000
Stock issued during period	3,500,000			100,000		3,400,000
Receivable from issuance of stock	700,000					700,000
Shares Granted, Value, Share-based Payment Arrangement, Forfeited	(2,400,000)					(2,400,000)
Shares Issued, Value, Share-based Payment Arrangement, after Forfeiture	0					100,000		(100,000)
Ending Balance at Jun. 30, 2021	(271,400,000)	100,000		1,300,000	100,000	125,100,000	(398,600,000)	600,000
Net income (loss)	42,100,000						42,100,000
Exchange of preferred stock for common stock and common stock warrant		7,500,000
Reclassification of stock-based compensation liability to equity	7,500,000
Shares Issued, Value, Share-based Payment Arrangement, after Forfeiture	200,000					300,000		(100,000)
Ending Balance at Sep. 30, 2021	$ (229,100,000)	$ 100,000		$ 1,300,000	$ 100,000	$ 125,400,000	$ (356,500,000)	$ 500,000

Basis of Presentation

Basis of Presentation	9 Months Ended
	Sep. 30, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	BASIS OF PRESENTATION Basis of Presentation and Principles of Consolidation 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, and its other subsidiaries, as of September 30, 2021, and for the three and nine months ended September 30, 2021 and 2020, have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”). The unaudited condensed consolidated balance sheet as of December 31, 2020, was derived from audited consolidated financial statements, but does not include all disclosures required by generally accepted accounting principles in the United States (“GAAP”). In the opinion of management, the unaudited condensed consolidated financial statements reflect all adjustments, including normal recurring adjustments, necessary for a fair statement of the financial results for the interim period. Certain prior year amounts have been reclassified for consistency with the current year presentation. Certain information and notes normally included in financial statements prepared in accordance with GAAP have been omitted pursuant to such rules and regulations. All material intercompany transactions have been eliminated. The Company’s components of comprehensive income for the three and nine months ended September 30, 2021 and 2020, are insignificant. Operating results for the three and nine months ended September 30, 2021, are not necessarily indicative of the results that may be expected for the year ending December 31, 2021. 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, 2020. New Accounting Standards Recently Adopted Accounting Standards In August 2018, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2018-14, Compensation - Retirement Benefits - Defined Benefit Plans - General (Subtopic 715-20), which amends the annual disclosure requirements for employers that sponsor defined benefit pension plans and other postretirement plans. The standard is effective for fiscal years beginning after December 15, 2020. Adoption of this new standard is not expected to have a significant impact to the Company’s annual disclosures. Significant Accounting Policies The accounting policies of the Company are set forth in Note 1 to the Consolidated Financial Statements contained in the Company’s Annual Report on Form 10-K for the year ended December 31, 2020. There has not been a material change to the Company’s accounting policies since that report.

Revenue and Contracts with Cust

Revenue and Contracts with Customers	9 Months Ended
	Sep. 30, 2021
Revenue from Contract with Customer [Abstract]
Revenue from Contract with Customer	REVENUE AND CONTRACTS WITH CUSTOMERS Disaggregation of Revenue The following table presents revenue from separative work units (“SWU”) and uranium sales disaggregated by geographical region based on the billing addresses of customers (in millions): Three Months Ended September 30, Nine Months Ended September 30, 2021 2020 2021 2020 United States $ 13.8 $ 18.7 $ 68.6 $ 66.7 Foreign 18.2 — 46.7 46.1 Revenue - SWU and uranium $ 32.0 $ 18.7 $ 115.3 $ 112.8 Refer to Note 12, Segment Information, for disaggregation of revenue by segment. Disaggregation by end-market is provided in Note 12 and the unaudited condensed consolidated statements of operations. SWU sales are made primarily to electric utility customers and uranium sales are primarily made to other nuclear fuel related companies. Technical solutions revenue resulted primarily from services provided to the government and its contractors. SWU and uranium revenue is recognized at point of sale and technical solutions revenue is generally recognized over time. Accounts Receivable September 30, December 31, ($ millions) Accounts receivable: Billed $ 12.7 $ 23.0 Unbilled * 4.2 6.6 Accounts receivable $ 16.9 $ 29.6 * Billings under certain contracts in the technical services segment are invoiced based on approved provisional billing rates. Unbilled revenue represents the difference between actual costs incurred and invoiced amounts. The Company expects to invoice and collect the unbilled amounts after actual rates are submitted to the customer and approved. Unbilled revenue also includes unconditional rights to revenue that are not yet billable under applicable contracts pending the compilation of supporting documentation. Contract Liabilities The following table presents changes in contract liability balances (in millions): September 30, December 31, 2020 Year-To-Date Change Accrued loss on HALEU Contract: Current - Accounts payable and accrued liabilities $ 1.2 $ 7.0 $ (5.8) Noncurrent - Other long-term liabilities $ — $ 0.7 $ (0.7) Deferred revenue - current $ 259.1 $ 281.7 $ (22.6) Advances from customers - current $ 16.1 $ 1.5 $ 14.6 Advances from customers - noncurrent $ 45.1 $ 45.2 $ (0.1) Previously deferred sales recognized in revenue totaled $28.5 million and $0 million in the nine months ended September 30, 2021 and 2020, respectively. LEU Segment The SWU component of low-enriched uranium (“LEU”) typically is bought and sold under contracts with deliveries over several years. The Company’s agreements for natural uranium sales generally are shorter-term, fixed-commitment contracts. The Company’s order book of sales under contract in the LEU segment (“order book”) extends to 2030. As of September 30, 2021, the order book was approximately $1 billion. The order book represents the estimated aggregate dollar amount of revenue for future SWU and uranium deliveries under contract and includes approximately $320 million of Deferred Revenue and Advances from Customers. Refer to Contract Liabilities table above. As of December 31, 2020, the order book was approximately $960 million. Most of the Company’s enrichment contracts provide for fixed purchases of SWU during a given year. T he Company’s order book is partially based on customers’ estimates of the timing and size of their fuel requirements and other assumptions that are subject to change. For example, depending on the terms of specific contracts, the customer may be able to increase or decrease the quantity delivered within an agreed range. T he Company’s order book estimate also is based on the Company’s estimates of selling prices, which may be subject to change. For example, depending on the terms of specific contracts, prices may adjust based on escalation using a general inflation index, published SWU price indicators prevailing at the time of delivery, and other factors, all of which are variable. T he Company uses external composite forecasts of future market prices and inflation rates in its pricing estimates. In 2018 through 2020 the Company borrowed SWU inventory valued at $20.7 million from a customer under an agreement signed in 2017 and recorded the SWU and the related liability using the Company’s average unit price of SWU purchases under contract projected to be used for repayment. The loan is repayable only with SWU. The cumulative liability to the customer for borrowed inventory was revalued to $25.5 million in the third quarter of 2021, of which $3.0 million is included in Accounts Payable and Accrued Liabilities and $22.5 million is included in Other Long-Term Liabilities. The revaluation reflects an updated projection of the timing and sources of inventory to be used for repayment. Cost of Sales for the three and nine months ended September 30, 2021 includes the related expense of $4.8 million. Technical Solutions Segment Revenue for the technical solutions segment, representing the Company’s technical, manufacturing, engineering, procurement, construction, and operations services offered to public and private sector customers, is recognized over the contractual period as services are rendered. On October 31, 2019, the Company signed a cost-share contract with the U.S. Department of Energy (“DOE”) to deploy a cascade of centrifuges to demonstrate production of high-assay, low-enriched uranium (“HALEU”) for advanced reactors (“the HALEU Contract”). HALEU is a component of an advanced nuclear reactor fuel that is not commercially produced in the United States today and may be required for a number of advanced reactor and fuel designs currently under development in both the commercial and government sectors. The three-year program has been under way since May 31, 2019, when the Company and DOE signed a preliminary letter agreement that allowed work to begin while the full contract was being finalized. In 2019, under the HALEU Contract, DOE agreed to reimburse the Company for 80% of its costs incurred in performing the contract, up to a maximum of $115 million. The Company’s cost share is the corresponding 20% and any costs the Company elects to incur above these amounts. Costs under the HALEU Contract include program costs , including direct labor and materials and associated indirect costs that are classified as Cost of Sales , and an allocation of corporate costs supporting the program that are classified as Selling, General and Administrative Expenses . Services to be provided over the three-year contract include constructing and assembling centrifuge machines and related infrastructure in a cascade formation and production of a small quantity of HALEU. When estimates of remaining program costs to be incurred for such an integrated, construction-type contract exceed estimates of total revenue to be earned, a provision for the remaining loss on the contract is recorded to Cost of Sales in the period the loss is determined. The Company’s corporate costs supporting the program are recognized as expense as incurred over the duration of the contract term. In 2019, the portion of the Company’s anticipated cost share under the HALEU Contract representing the Company’s share of projected program costs was recognized in Cost of Sales as an accrued loss of $18.3 million. The accrued loss on the contract is being adjusted over the remaining contract term based on actual results, remaining program cost projections and the Company’s anticipated cost-share. Cost of sales in the nine months ended September 30, 2021 and 2020 benefited by $6.5 million and $8.7 million, respectively, for previously accrued contract losses attributable to work performed in the periods. As of September 30, 2021, a total of $17.1 million of previously accrued contract losses have been realized and the accrued contract loss balance included in Accounts Payable and Accrued Liabilities was $1.2 million. Work under the HALEU Contract has progressed but we have been experiencing increased delays from vendors and increased costs due to the continuing effects of the COVID-19 pandemic. Additionally, COVID-19-related supply chain difficulties have also affected DOE in its supply of equipment that it is required to furnish under the contract. As a result, we currently estimate that costs required to complete the existing HALEU Contract have increased approximately $10 million over the 2019 initial estimate. Further, while we still anticipate completing the cascade in 2022, due to a COVID-related supply chain delay in the DOE-supplied HALEU storage cylinders, production will not begin until mid-2022. The U.S. Government is currently operating on a continuing resolution through December 3, 2021. On October 28, 2021, DOE increased the government’s cost share ceiling to $117.9 million and provided additional incremental funding that we expect will be sufficient to continue work through the middle of November. The Company has received aggregate cash payments of $101.9 million through September 30, 2021. While the existing contract ends on June 1, 2022, the Department of Energy’s Fiscal Year 2022 budget request includes $33 million to establish a new HALEU availability program, a portion of which would be used for “continuing to support the 16 machines in Piketon.” The Department has indicated that it is considering changes to the scope of the existing contract including moving the operational portion of the demonstration to a new, competitively-awarded contract, with operations to begin in mid-2022. Centrus believes it is well-positioned to compete for a follow-on contract to operate the machines in Piketon but there is no assurance that DOE will award such a contract to the Company. Congress has not yet adopted a Fiscal Year 2022 appropriations bill for the Department, and there is no assurance that the proposed program, which would go beyond the scope and expiration of our existing contract, will be approved and funded. Additional COVID-19-related impacts, delays in DOE furnishing equipment, or changes to the existing scope of the HALEU Contract could result in further material increases to our estimate of the costs required to complete the HALEU Contract, as well as delay completion of the contract. The Company does not currently have a contractual obligation to perform work in excess of the funding provided by DOE and, therefore, no additional costs have been accrued as of September 30, 2021. If the Company commits to a plan to complete the demonstration cascade and produce HALEU and DOE does not commit to fully fund the additional costs, we may incur material additional costs or losses in future periods that could have an adverse impact on our financial condition and liquidity. Revenue for the technical solutions segment in the three and nine months ended September 30, 2021 also includes $43.5 million related to the settlement of the Company’s claims for reimbursements for certain pension and postretirement benefits costs incurred in connection with a past cost-reimbursable contract with DOE unrelated to the HALEU Contract. On September 7, 2021, after the final approvals for the settlement were received, the settlement agreement was signed by the parties at which time it became probable that there would not be a significant reversal of revenue. Under the terms of the settlement agreement, DOE paid the Company $43.5 million, of which $33.8 million was contributed to the pension plan in September 2021 for its subsidiary United States Enrichment Corp. (“Enrichment Corp.”) and $9.7 million was deposited in October 2021 in a trust for payment of postretirement health benefits payable by Enrichment Corp. After receiving payment, at the Company’s request the case was dismissed. Refer to Note 11, Commitments and Contingencies -- Legal Matters .

Cash, Cash Equivalents and Rest

Cash, Cash Equivalents and Restricted Cash	9 Months Ended
	Sep. 30, 2021
Cash, Cash Equivalents and Restricted Cash [Abstract]
Cash and Cash Equivalents Disclosure	CASH, CASH EQUIVALENTS AND RESTRICTED CASH The following table summarizes the Company’s cash, cash equivalents and restricted cash as presented on the unaudited condensed consolidated balance sheet to amounts on the unaudited condensed consolidated statement of cash flows (in millions): September 30, 2021 September 30, 2020 Cash and cash equivalents $ 171.0 $ 152.8 Deposits for financial assurance - current 0.2 0.2 Deposits for financial assurance - noncurrent 5.7 5.7 Total cash, cash equivalents and restricted cash $ 176.9 $ 158.7

Inventories

Inventories	9 Months Ended
	Sep. 30, 2021
Inventory, Net [Abstract]
Inventories	INVENTORIES Centrus holds uranium at licensed locations in the form of natural uranium and as the uranium component of LEU. Centrus also holds SWU as the SWU component of LEU at licensed locations (e.g., fabricators) to meet book transfer requests by customers. Fabricators process LEU into fuel for use in nuclear reactors. Components of inventories are as follows (in millions): September 30, 2021 December 31, 2020 Current Current Inventories, Net Current Current Inventories, Net Separative work units $ 13.0 $ 0.1 $ 12.9 $ 17.0 $ 4.6 $ 12.4 Uranium 67.0 6.9 60.1 47.8 0.3 47.5 Total $ 80.0 $ 7.0 $ 73.0 $ 64.8 $ 4.9 $ 59.9

Intangible Assets

Intangible Assets	9 Months Ended
	Sep. 30, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Intangible Assets	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 sales order book is amortized as the order book existing at emergence is reduced, principally 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 unaudited condensed consolidated statements of operations and comprehensive income. Intangible asset balances are as follows (in millions): September 30, 2021 December 31, 2020 Gross Carrying Amount Accumulated Amortization Net Amount Gross Carrying Amount Accumulated Amortization Net Amount Sales order book $ 54.6 $ 34.0 $ 20.6 $ 54.6 $ 32.0 $ 22.6 Customer relationships 68.9 32.1 36.8 68.9 28.7 40.2 Total $ 123.5 $ 66.1 $ 57.4 $ 123.5 $ 60.7 $ 62.8

Debt

Debt	9 Months Ended
	Sep. 30, 2021
Debt Disclosure [Abstract]
Debt	DEBT A summary of debt is as follows (in millions): September 30, 2021 December 31, 2020 Maturity Current Long-Term Current Long-Term 8.25% Notes: Feb. 2027 Principal $ — $ 74.3 $ — $ 74.3 Interest 6.1 27.5 6.1 33.7 Total $ 6.1 $ 101.8 $ 6.1 $ 108.0 Interest on the 8.25% notes (the “8.25% Notes”) maturing in February 2027 is payable semi-annually in arrears as of February 28 and August 31 based on a 360-day year consisting of twelve 30-day months. As shown in the table above, all future interest payment obligations on the 8.25% Notes are included in the carrying value of the 8.25% Notes. As a result, interest payments are reported as a reduction in the carrying value of the 8.25% Notes and not as interest expense. As of September 30, 2021, and December 31, 2020, $6.1 million of interest was recorded as current and classified as Current Debt in the unaudited condensed consolidated balance sheet. Additional terms and conditions of the 8.25% Notes are described in Note 9, Debt , of the consolidated financial statements in the Company’s Annual Report on Form 10-K for the year ended December 31, 2020.

Fair Value Measurements

Fair Value Measurements	9 Months Ended
	Sep. 30, 2021
Fair Value Disclosures [Abstract]
Fair Value Measurements	FAIR VALUE Fair value is 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 of assets and liabilities, the following hierarchy is used in selecting inputs, with the highest priority given to Level 1, as these are the most transparent or reliable: • Level 1 – quoted prices for identical instruments in active markets. • Level 2 – quoted prices for similar instruments in active markets; quoted prices for identical or similar instruments in markets that are not active; and model-derived valuations in which all significant inputs are observable in active markets. • Level 3 – valuations derived using one or more significant inputs that are not observable. Financial Instruments Recorded at Fair Value (in millions): September 30, 2021 December 31, 2020 Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total Assets: Cash and cash equivalents $ 171.0 $ — $ — $ 171.0 $ 152.0 $ — $ — $ 152.0 Deferred compensation asset (a) 3.0 — — 3.0 2.4 — — 2.4 Liabilities: Deferred compensation obligation (a) $ 2.8 $ — $ — $ 2.8 $ 2.3 $ — $ — $ 2.3 (a) The deferred compensation obligation represents the balance of deferred compensation plus net investment earnings. The deferred compensation plan is funded through a rabbi trust. Trust funds are invested in mutual funds for which unit prices are quoted in active markets and are classified within Level 1 of the valuation hierarchy. There were no transfers between Level 1, 2 or 3 during the periods presented. Other Financial Instruments As of September 30, 2021, and December 31, 2020, the balance sheet carrying amounts for 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 their short-term nature. The carrying value and estimated fair value of long-term debt are as follows (in millions): September 30, 2021 December 31, 2020 Carrying Value Estimated Fair Value (a) Carrying Value Estimated Fair Value (a) 8.25% Notes $ 107.9 (b) $ 74.3 $ 114.1 (b) $ 68.6 (a) Based on recent trading prices and bid/ask quotes as of or near the balance sheet date, which are considered Level 2 inputs based on the frequency of trading. (b) The carrying value of the 8.25% Notes consists of the principal balance of $74.3 million and the sum of current and noncurrent interest payment obligations until maturity. Refer to Note 6, Debt

Pension and Postretirement Heal

Pension and Postretirement Health and Life Benefits	9 Months Ended
	Sep. 30, 2021
Retirement Benefits, Description [Abstract]
Pension and Postretirement Health and Life Benefits	PENSION AND POSTRETIREMENT HEALTH AND LIFE BENEFITS The components of net periodic benefit (credits) for the defined benefit pension plans were as follows (in millions): Three Months Ended Nine Months Ended 2021 2020 2021 2020 Service costs $ 0.6 $ 0.9 $ 2.0 $ 2.7 Interest costs 4.6 6.0 13.6 18.2 Amortization of prior service costs (credits), net (0.1) — (0.1) (0.2) Expected return on plan assets (gains) (9.6) (9.3) (28.8) (28.1) Net periodic benefit (credits) $ (4.5) $ (2.4) $ (13.3) $ (7.4) The components of net periodic benefit costs for the postretirement health and life benefit plans were as follows (in millions): Three Months Ended Nine Months Ended 2021 2020 2021 2020 Interest costs $ 0.9 $ 1.2 $ 2.6 $ 3.6 Amortization of prior service costs (credits), net — (0.1) (0.1) (0.1) Net periodic benefit costs $ 0.9 $ 1.1 $ 2.5 $ 3.5 The Company reports service costs for its defined benefit pension plans and its postretirement health and life benefit plans in Cost of Sales and Selling, General and Administrative Expenses . The remaining components of net periodic benefit (credits) costs are reported as Nonoperating Components of Net Periodic Benefit Expense (Income). Refer to Note 2, Revenue and Contracts with Customers

Net Income Per Share

Net Income Per Share	9 Months Ended
	Sep. 30, 2021
Earnings Per Share [Abstract]
Net Income (Loss) Per Share	NET INCOME PER SHARE Basic net income per share is calculated by dividing income allocable to common stockholders by the weighted average number of shares of common stock outstanding during the period. In calculating diluted net income per share, the number of shares is increased by the weighted average number of potential shares related to stock compensation awards. No dilutive effect is recognized in a period in which a net loss has occurred. On February 2, 2021, the Company completed the exchange of 3,873 shares of its outstanding Series B Senior Preferred Stock, par value $1.00 per share (“Preferred Stock”) for (i) 231,276 shares of Class A Common Stock and (ii) a warrant to purchase 250,000 shares of Class A Common Stock at an exercise price of $21.62 per share, for an aggregate valuation of approximately $7.5 million. (Refer to Note 10 - Stockholders’ Equit y). The carrying value of the Preferred Stock on the Balance Sheet was $1.00 per share par value. The aggregate liquidation preference of the Preferred Stock, including accrued but unpaid dividends, was $1,291.04 per share as of December 31, 2020. The aggregate valuation of approximately $7.5 million, less accrued but unpaid dividends attributable to the acquired and retired shares of Preferred Stock, is considered for purposes of Net Income per Share to be a deemed dividend in the aggregate amount equal to the amount by which it exceeds the carrying value of the Preferred Stock on the Balance Sheet, or $6.6 million. The weighted average number of common and common equivalent shares used in the calculation of basic and diluted income per share are as follows: Three Months Ended September 30, Nine Months Ended 2021 2020 2021 2020 Numerator (in millions): Net income (loss) $ 42.1 $ (7.0) $ 58.8 $ 38.0 Less: Preferred stock dividends - undeclared and cumulative 0.7 1.9 2.1 5.9 Less: Distributed earnings allocable to retired preferred shares — — 6.6 — Net income (loss) allocable to common stockholders $ 41.4 $ (8.9) $ 50.1 32.1 Denominator (in thousands): Average common shares outstanding - basic 13,741 10,723 13,365 10,008 Potentially dilutive shares related to stock options and restricted stock units (a) 315 — 337 274 Average common shares outstanding - diluted 14,056 10,723 13,702 10,282 Net income (loss) per share (in dollars): Basic $ 3.01 $ (0.83) $ 3.75 $ 3.21 Diluted $ 2.95 $ (0.83) $ 3.66 $ 3.12 (a) Common stock equivalents excluded from the diluted calculation as a result of a net loss in the period (in thousands) — 317 — —

Stockholders' Equity

Stockholders' Equity	9 Months Ended
	Sep. 30, 2021
Stockholders' Equity Attributable to Parent [Abstract]
Stockholders' Equity Note Disclosure [Text Block]	STOCKHOLDERS’ EQUITY Pursuant to a sales agreement with its agents, the Company sold at the market price an aggregate of 1,238,637 shares of its Class A Common Stock in the nine months ended September 30, 2021 for a total of $28.7 million. After expenses and commissions paid to the agents the Company’s proceeds totaled $27.6 million. Additionally, the Company recorded direct costs of $0.4 million related to the issuance. The shares of Class A Common Stock were issued pursuant to the Company’s shelf registration statement on Form S-3 (File No. 333-239242), which became effective on August 5, 2020, and a prospectus supplement dated December 31, 2020, to the prospectus. The Company currently intends to use the net proceeds from this offering for general working capital purposes, to invest in technology development and deployment and to repay outstanding debt or retire shares of its Preferred Stock. As previously disclosed in our Current Report on Form 8-K filed February 5, 2021, on February 2, 2021, the Company entered into an amendment (the “Voting Agreement Amendment”) to its existing Voting and Nomination Agreement with Mr. Morris Bawabeh, Kulayba LLC and M&D Bawabeh Foundation, Inc. (collectively, the “MB Group”) and an Exchange Agreement (as described below) whereby the MB Group agreed to support management’s recommendation on certain matters at the Company’s 2021 annual meeting of stockholders (the “Annual Meeting”) and Kulayba LLC agreed to exchange shares of the Company’s Preferred Stock for shares of the Company’s Class A Common Stock and a warrant to acquire additional shares of Class A Common Stock. Pursuant to the First Amendment to the Voting and Nomination Agreement, the MB Group agreed to cause all shares of Class A Common Stock owned of record or beneficially owned by the MB Group at the Annual Meeting to be voted in favor of (i) an amendment to extend the length of the term of the Company’s Section 382 Rights Agreement dated as of April 6, 2016, as amended to date, for two years from June 30, 2021, to June 30, 2023, and (ii) an increase of shares of Class A Common Stock reserved for delivery under the Company’s Centrus Energy Corp 2014 Equity Incentive Plan, as amended to date, of an additional 700,000 shares of Class A Common Stock. At the Annual Meeting both of the above referenced proposals were approved by the Company’s stockholders. In connection with the entry into the Voting Agreement Amendment, the Company and Kulayba LLC also entered into an Exchange Agreement, dated February 2, 2021 (the “Exchange Agreement”), pursuant to which Kulayba LLC agreed to exchange (the “Exchange”) 3,873 shares of Preferred Stock, representing a $5,000,198 liquidation preference (including accrued and unpaid dividends), for (i) 231,276 shares of Class A Common Stock priced at the closing market price of $21.62 on the date the Exchange Agreement was signed and (ii) a Centrus Energy Corp. Warrant to Purchase Class A Common Stock (the “Warrant”), exercisable for 250,000 shares of Class A Common Stock at an exercise price of $21.62 per share, which was the closing market price on the date the Exchange Agreement was signed, subject to certain customary adjustments pursuant to the terms of the Warrant. The Warrant is exercisable by Kulayba LLC for a period commencing on the closing date of the Exchange and ending, unless sooner terminated as provided in the Warrant, on the first to occur of: (a) the second anniversary of the closing date of the Exchange or (b) the last business day immediately prior to the consummation of a Fundamental Transaction (as defined in the Warrant) which results in the shareholders of the Company immediately prior to such Fundamental Transaction owning less than 50% of the voting equity of the surviving entity immediately after the consummation of the Fundamental Transaction. The Company retired the 3,873 shares of Preferred Stock received by the Company under the Exchange Agreement. Refer to Note 13, Subsequent Event , for details regarding a tender offer to purchase all of the outstanding Series B Senior Preferred Stock. Notional stock units are a component of the 2019 Executive Incentive Plan for participating executives for the three-year period ending December 31, 2021, with an interim payment in April 2021 and the final payment targeted for 2022. In April 2020, notional stock units and stock appreciation rights were granted to participating executives with a vesting period ending in April 2023. The notional stock units granted in 2019 and 2020 and the stock appreciation rights granted in 2020 may be payable in common stock, cash or a combination of both at the discretion of the Board of Directors. Since the awards are likely to be settled with cash payments, compensation cost for these notional stock units and stock appreciation rights are re-measured each reporting period based on the trading price of the Company’s Class A Common Stock and the cumulative vested costs are accrued in Accounts Payable and Accrued Liabilities or Other Long-Term Liabilities based on the anticipated payment date. A portion of the April 2021 interim payment related to the 2019 grants referenced above was paid in shares at the discretion of the Board of Directors. The related obligation of $7.5 million was reclassified from Accounts Payable and Accrued Liabilities to Excess of Capital over Par Value in the first quarter of 2021 based on the market share price at the time of the Board’s decision. In the second quarter of 2021, the Company withheld $2.4 million of shares that vested during the period for the purpose of funding the grantees’ tax withholding obligations under the terms of the stock-based compensation plan. In September 2021, notional stock units and stock appreciation rights were granted to participating executives with a vesting period ending in April 2024. The awards are payable in shares of common stock and the grant-date value is included in Excess of Capital Over Par Value as amortized over the vesting period.

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 30, 2021
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	COMMITMENTS AND CONTINGENCIES Commitments under SWU Purchase Agreements TENEX A major supplier of SWU to the Company is the Russian government-owned entity TENEX, Joint-Stock Company (“TENEX”). Under a 2011 agreement with TENEX, as amended, (the “TENEX Supply Contract”), the Company purchases SWU contained in LEU received from TENEX, and the Company delivers natural uranium to TENEX for the LEU’s uranium component. The LEU that the Company obtains from TENEX under the agreement is subject to quotas and other restrictions applicable to commercial Russian LEU. The TENEX Supply Contract originally was signed with commitments through 2022 but was modified in 2015 to give the Company the right to reschedule certain quantities of SWU of the original commitments into the period 2023 and beyond, in return for the purchase of additional SWU in those years. The Company has exercised this right to reschedule in each year through December 31, 2020. If the Company exercises this right to reschedule in full during the remaining years of the contract’s original term, the Company will have a rescheduled post-2022 purchase commitment through 2028. The TENEX Supply Contract provides that the Company must pay for all SWU in its minimum purchase obligation each year, even if it fails to submit orders for such SWU. In such a case, the Company would pay for the SWU but have to take the unordered SWU in the following year. Pricing terms for SWU under the TENEX Supply Contract are based on a combination of market-related price points and other factors. This formula was subject to an adjustment at the end of 2018 that reduced the unit costs of SWU under this contract in 2019 and for the duration of the contract. Orano In 2018, the Company entered into an agreement (the “Orano Supply Agreement”) with the French company Orano Cycle (“Orano”) for the long-term supply to the Company of SWU contained in LEU. Under the Orano Supply Agreement, as amended, the supply of SWU commenced in 2020 and extends to 2028. The Company has the option to extend the supply period for an additional two years. The Orano Supply Agreement provides significant flexibility to adjust purchase volumes, subject to annual minimums and maximums in fixed amounts that vary year by year. The pricing for the SWU purchased by the Company is determined by a formula that uses a combination of market-related price points and other factors and is subject to certain floors and ceilings. Milestones Under the 2002 DOE-USEC Agreement The Company’s predecessor USEC Inc. and DOE signed an agreement dated June 17, 2002, as amended (the “2002 DOE-USEC Agreement”), pursuant to which the parties made long-term commitments directed at resolving issues related to the stability and security of the domestic uranium enrichment industry. The 2002 DOE-USEC Agreement requires Centrus to develop, demonstrate and deploy advanced enrichment technology in accordance with milestones, including the deployment of a commercial American Centrifuge Plant, and provides for remedies in the event of a failure to meet a milestone under certain circumstances, including terminating the 2002 DOE-USEC Agreement, revoking Centrus’ access to DOE’s centrifuge technology that is required for the success of the Company’s ongoing work with the American Centrifuge technology, requiring Centrus to transfer certain rights in the American Centrifuge technology and facilities to DOE, and requiring Centrus to reimburse DOE for certain costs associated with the American Centrifuge technology. The 2002 DOE-USEC Agreement provides that if a delaying event beyond the control and without the fault or negligence of Centrus occurs that could affect Centrus’ ability to meet the American Centrifuge Plant milestone under the 2002 DOE-USEC Agreement, DOE and the Company will jointly meet to discuss in good faith possible adjustments to the milestones as appropriate to accommodate the delaying event. In 2014, the 2002 DOE-USEC Agreement and other agreements between the Company and DOE were assumed by Centrus subject to an express reservation of all rights, remedies and defenses by DOE and the Company under those agreements. DOE and the Company have agreed that all rights, remedies and defenses of the parties with respect to any missed milestones and all other matters under the 2002 DOE-USEC Agreement continue to be preserved, and that the time limits for each party to respond to any missed milestones continue to be tolled. Legal Matters From time to time, the Company is involved in various pending legal proceedings, including the pending legal proceedings described below. In 1993, the United States Enrichment Corporation, at that time a wholly owned government corporation (“USEC-Government”), entered into a lease for the Paducah and Portsmouth Gaseous Diffusion Plants (collectively, the “GDPs”) with the U.S. Department of Energy (“DOE”). As part of that lease, DOE and USEC-Government also entered into a memorandum of understanding (“Power MOU”) regarding power purchase agreements between DOE and the providers of power to the GDPs. Under the Power MOU, DOE and USEC-Government agreed upon the allocation of rights and liabilities under the power purchase agreements. In 1998, USEC-Government was privatized and became the United States Enrichment Corporation, now a principal subsidiary of the Company (“Enrichment Corp.”). Pursuant to legislation authorizing the privatization, the lease for the GDPs, which included the Power MOU as an Appendix, was transferred to Enrichment Corp. and Enrichment Corp. was given the right to purchase power from DOE. The Paducah GDP was shut down in 2013 and deleased by Enrichment Corp. in 2014. On August 4, 2021, DOE informally informed Enrichment Corp. that the Joppa power plant, which had supplied power to the Paducah GDP, was planned to be decontaminated and decommissioned (D&D). According to DOE, the power purchase agreement with Electric Energy Inc. (“EEI”) requires DOE to pay for a portion of the D&D costs of the Joppa power plant and DOE has asserted that a portion of the DOE liability is the responsibility of Enrichment Corp. under the Power MOU in the amount of approximately $9.6 million. The Company is assessing DOE’s assertions including whether all or a portion of any such potential liability had been previously settled. The Company has not formed an opinion on the merits nor is it able to estimate the potential liability, if any, and no expense or liability has been accrued. On August 30, 2013, the Company submitted a claim to DOE under the Contract Disputes Act for payment of $42.8 million, representing DOE’s share of pension and postretirement benefits costs related to the transition of employees at the former Portsmouth GDP to DOE’s D&D contractor. On August 27, 2014, the DOE contracting officer denied the Company’s claim. As a result, the Company filed an appeal of the decision in the U.S. Court of Federal Claims in January 2015. On January 13, 2021, the Company and DOE reached a tentative agreement to settle the litigation. The settlement was subject to the approval by DOE, the U.S. Department of Justice, the Company’s Board of Directors, and the Court. On September 7, 2021, after the final approvals for the settlement were received, the settlement agreement was signed by the parties. Under the terms of the settlement agreement, DOE paid the Company $43.5 million, of which $33.8 million was contributed to the pension plan in September 2021 for Enrichment Corp. and $9.7 million was deposited in October 2021 in a trust for payment of postretirement health benefits payable by Enrichment Corp. After receiving payment, at the Company’s request the case was dismissed. The payment of $43.5 million is included in revenue of the technical solutions segment for the three months ended September 30, 2021. On May 26, 2019, the Company, Enrichment Corp., and six other DOE contractors who have operated facilities at the Portsmouth GDP site (including, in the case of the Company, the American Centrifuge Plant site located on the premises) were named as defendants in a class action complaint filed by Ursula McGlone, Jason McGlone, Julia Dunham, and K.D. and C.D., minor children by and through their parent and natural guardian Julia Dunham (collectively, the “McGlone Plaintiffs”) in the U.S. District Court in the Southern District of Ohio, Eastern Division. The complaint seeks damages for alleged off-site contamination allegedly resulting from activities on the Portsmouth GDP site. The McGlone Plaintiffs are seeking to represent a class of (i) all current or former residents within a seven-mile radius of the Portsmouth GDP site and (ii) all students and their parents at the Zahn’s Corner Middle School from 1993-present. The complaint was amended on December 10, 2019 and on January 10, 2020 to add additional plaintiffs and new claims. On July 31, 2020, the court granted in part and denied in part the defendants’ motion to dismiss the case. The court dismissed ten of the fifteen claims and allowed the remaining claims to proceed to the next stage of the litigation process. On August 18, 2020, the McGlone Plaintiffs filed a motion for leave to file a third amended complaint and notice of dismissal of three of the individual plaintiffs. On March 18, 2021, the McGlone Plaintiffs filed a motion for leave to file a fourth amended complaint to add new plaintiffs and allegations. On March 19, 2021, the court granted the McGlone Plaintiffs’ motion for leave to amend the complaint. On May 24, 2021, the Company, Enrichment Corp. and the other defendants filed their motion to dismiss the complaint. The court has not rendered a decision at this time. Meanwhile, the parties are in the discovery stage of litigation. The Company believes that its operations at the Portsmouth GDP site were fully in compliance with the Nuclear Regulatory Commission’s regulations. Further, the Company believes that any such liability should be indemnified under the Price-Anderson Nuclear Industries Indemnity Act (“Price-Anderson Act”). The Company and Enrichment Corp. have provided notifications to DOE required to invoke indemnification under the Price-Anderson Act and other contractual provisions. On November 27, 2019, the Company, Enrichment Corp. and six other DOE contractors who have operated facilities at the Portsmouth GDP site were named as defendants in a class action complaint filed by James Matthews, Jennifer Brownfield Clark, Joanne Ross, the Estate of A.R., and others similarly situated (the “Matthews Plaintiffs”), in the Common Pleas Court of Pike County, Ohio. On January 3, 2020, the complaint was removed to the U.S. District Court in the Southern District of Ohio for adjudication. The complaint sought injunctive relief, compensatory damages, statutory damages, and any other relief allowed by law for alleged off-site contamination allegedly resulting from activities on the Portsmouth GDP site. The Matthews Plaintiffs expressly contended that the ongoing and continuous releases that injured the Plaintiffs and class members were not “nuclear incidents” as that term is defined in the Price-Anderson Act, but rather “freestanding state law claims concerning traditional-style state regulation.” On July 27, 2020, the court granted the Company, Enrichment Corp. and the other defendants’ motion to dismiss the complaint because the Matthews Plaintiffs had opted not to proceed under the Price-Anderson Act which preempts state law. On August 18, 2020, the plaintiffs filed a notice of appeal to the U.S. Court of Appeals for the Sixth Circuit. On October 6, 2021, the U.S. Court of Appeals for the Sixth Circuit affirmed the lower court’s decision and dismissed the case. Plaintiffs have 90 days to file a petition for certiorari with the U.S. Supreme Court; the Plaintiffs must file such a petition by January 4, 2022 for the U.S. Supreme Court to consider whether it will hear the case. On September 3, 2020, the Company, Enrichment Corp., nine other DOE contractors who have operated facilities at the Portsmouth GDP site and eleven individuals in their personal capacity some of whom are current and former DOE employees were named as defendants (“Walburn Defendants”) in a class action complaint filed by Jeffrey Walburn, Charles O. Lawson Jr., Kimberly M. Lawson, James A. Brogdon, Stephen Patrick Spriggs, Donald Slone, Vicki P. Slone, Victoria Slone Moore, Toni West, Carl R. Hartley, Heather R. Hartley, Vina Colley, Antony Preston, David B. Rose, Michael E. Groves, George W. Clark, Estate of Kathy Sue Brogdon (deceased), Estate of Jay Paul Brogdon (deceased), and Jon Doe(s), and Jane Doe(s), on behalf of themselves and all similarly situated individuals (“Walburn Plaintiffs”) in the U.S. District Court in the Southern District of Ohio, Eastern Division. The complaint alleges that the named defendants conspired and concealed nuclear incidents in violation of the Price-Anderson Act, the Racketeer Influenced and Corrupt Organization Act and other state claims. The complainants seek damages and equitable and injunctive relief arising from economic losses, property losses, and non-economic damages resulting from toxic and radioactive releases from the Portsmouth GDP. On November 20, 2020, the Walburn Plaintiffs filed an amended complaint to add two individuals to the complaint as defendants in their individual capacity. One of those individuals is Daniel Poneman, Centrus’ Chief Executive Officer. In the 78-page complaint, Mr. Poneman is referenced only twice, without any cited allegations against him; once in the caption and once referencing his position at the Company. The Company has notified its insurance carrier regarding the claim. On February 11, 2021, the Walburn Plaintiffs amended their complaint for a second time to replace two corporate defendants with two others (one of whom was a contractor to Enrichment Corp. and also to its predecessor prior to its privatization in 1998 and the other a former DOE contractor) and removed four named individual defendants from the complaint. On March 2, 2021, Walburn Defendants filed their motion to dismiss. On July 14, 2021, the court put the case on hold until November 11, 2021, to give the Plaintiffs the opportunity to retain new counsel. The court conditionally granted the Plaintiffs’ local counsel’s request to withdraw as counsel and terminated the representation of the two other co-counsel. The Company believes that its operations at the Portsmouth GDP site were fully in compliance with the Nuclear Regulatory Commission’s regulations. Further, the Company believes that any such liability should be indemnified under the Price-Anderson Act. The Company and Enrichment Corp. have provided notifications to DOE required to invoke indemnification under the Price-Anderson Act and other contractual provisions. On November 11, 2021, Plaintiffs filed a notice of voluntary dismissal without prejudice. 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, other than the above, Centrus does not believe that the outcome of any of these legal matters, individually and in the aggregate, will have a material adverse effect on its cash flows, results of operations or consolidated financial condition.

Segment Information

Segment Information	9 Months Ended
	Sep. 30, 2021
Segment Reporting Information, Revenue for Reportable Segment [Abstract]
Segment Information	SEGMENT INFORMATION Gross profit is the Company’s measure for segment reporting. There were no intersegment sales in the periods presented. Refer to Note 2, Revenue and Contracts with Customers, for additional details on revenue for each segment. The following table presents the Company’s segment information (in millions): Three Months Ended Nine Months Ended 2021 2020 2021 2020 Revenue LEU segment: Separative work units $ 19.1 $ 0.1 $ 102.4 $ 89.4 Uranium 12.9 18.6 12.9 23.4 Total 32.0 18.7 115.3 112.8 Technical solutions segment 59.3 14.9 94.0 41.5 Total revenue $ 91.3 $ 33.6 $ 209.3 $ 154.3 Segment Gross Profit (Loss) LEU segment $ 8.3 $ (0.9) $ 39.2 $ 61.0 Technical solutions segment 41.2 0.1 39.1 1.6 Gross profit $ 49.5 $ (0.8) $ 78.3 $ 62.6 Revenue from Major Customers (10% or More of Total Revenue) In the three months ended September 30, 2021, one customer in the LEU segment represented $18.2 million of revenue and one customer in the technical solutions segment represented $56.5 million of revenue. In the nine months ended September 30, 2021, one customer in the LEU segment represented $28.5 million of revenue and one customer in the technical solutions segment represented $87.7 million of revenue. In the three months ended September 30, 2020, two customers in the LEU segment represented $11.3 million and $7.4 million, respectively, of revenue and one customer in the technical solutions segment represented $13.5 million of revenue. In the nine months ended September 30, 2020, three customers in the LEU segment represented $32.4 million, $23.4 million and $17.9 million, respectively, of revenue and one customer in the technical solutions segment represented $33.4 million of revenue.

Subsequent Event

Subsequent Event	9 Months Ended
	Sep. 30, 2021
Subsequent Events [Abstract]
Subsequent Event	SUBSEQUENT EVENTOn October 20, 2021, the Company announced the commencement of a tender offer to purchase all of its outstanding Series B Senior Preferred Stock, par value $1.00 per share (the “Series B Preferred Shares”), at a price of $1,145.20 per Series B Preferred Share (inclusive of any rights to accrued but unpaid dividends), to the sellers in cash, less any applicable withholding taxes (the “Offer”). The Offer is being made pursuant to the Tender Offer Statement on Schedule TO filed by the Company on October 18, 2021 with the SEC. The aggregate liquidation preference per Series B Preferred Share (including accrued but unpaid dividends) was $1,347.29 as of September 30, 2021. If the maximum number of Series B Preferred Shares is validly tendered and purchased, the aggregate consideration paid will be $43,342,384. Under no circumstances, will the Company pay interest as part of the consideration, including, but not limited to, by reason of any delay in making payment. Concurrently with the Offer, we also are soliciting consents (the “Consent Solicitation”) from holders of the Series B Preferred Shares to amend (the “Series B Preferred Amendment”) the certificate of designation of the Series B Preferred Shares (the “Certificate of Designation”) from and after the effective date of the Series B Preferred Amendment to: (i) cease any obligation to pay dividends on Series B Preferred Shares (other than the payment of accrued dividends in connection with a redemption or distribution of assets upon liquidation, dissolution or winding up), (ii) permit the Company to redeem Series B Preferred Shares during the 90 days following the date of effectiveness of the Series B Preferred Amendment at a redemption price per share equal to $1,145.20 (plus any additional accrued dividends for the period from and including the date of effectiveness of the Series B Preferred Amendment to the date of redemption), (iii) remove the prohibition on the declaration and payment of dividends on junior stock of the Company, which includes all shares of the Company’s capital stock defined as “Common Stock” in the Company’s Amended and Restated Certificate of Incorporation, or the redemption, purchase or acquisition of such junior stock, and (iv) remove the restriction on redemption, purchase or acquisition of capital stock of the Company ranking on parity with the Series B Preferred Shares. If the Series B Preferred Amendment is approved, we currently intend to redeem all Series B Preferred Shares that remain outstanding following the consummation of the Offer at the reduced redemption price referred to in clause (ii) above. Pursuant to the terms of the Certificate of Designation, the consent of holders of at least 90% of the outstanding Series B Preferred Shares is required to approve the Series B Preferred Amendment. The Offer is currently set to expire on November 18, 2021.

Revenue and Contracts with Cu_2

Revenue and Contracts with Customers (Tables)	9 Months Ended
	Sep. 30, 2021
Revenue from Contract with Customer [Abstract]
Revenue from External Customers by Geographic Areas	The following table presents revenue from separative work units (“SWU”) and uranium sales disaggregated by geographical region based on the billing addresses of customers (in millions): Three Months Ended September 30, Nine Months Ended September 30, 2021 2020 2021 2020 United States $ 13.8 $ 18.7 $ 68.6 $ 66.7 Foreign 18.2 — 46.7 46.1 Revenue - SWU and uranium $ 32.0 $ 18.7 $ 115.3 $ 112.8
Contract with Customer, Asset and Liability	September 30, December 31, 2020 Year-To-Date Change Accrued loss on HALEU Contract: Current - Accounts payable and accrued liabilities $ 1.2 $ 7.0 $ (5.8) Noncurrent - Other long-term liabilities $ — $ 0.7 $ (0.7) Deferred revenue - current $ 259.1 $ 281.7 $ (22.6) Advances from customers - current $ 16.1 $ 1.5 $ 14.6 Advances from customers - noncurrent $ 45.1 $ 45.2 $ (0.1)

Cash, Cash Equivalents and Re_2

Cash, Cash Equivalents and Restricted Cash (Tables)	9 Months Ended
	Sep. 30, 2021
Cash, Cash Equivalents and Restricted Cash [Abstract]
Schedule of Cash and Cash Equivalents	The following table summarizes the Company’s cash, cash equivalents and restricted cash as presented on the unaudited condensed consolidated balance sheet to amounts on the unaudited condensed consolidated statement of cash flows (in millions): September 30, 2021 September 30, 2020 Cash and cash equivalents $ 171.0 $ 152.8 Deposits for financial assurance - current 0.2 0.2 Deposits for financial assurance - noncurrent 5.7 5.7 Total cash, cash equivalents and restricted cash $ 176.9 $ 158.7

Inventories (Tables)

Inventories (Tables)	9 Months Ended
	Sep. 30, 2021
Inventory, Net [Abstract]
Schedule of Inventories	Components of inventories are as follows (in millions): September 30, 2021 December 31, 2020 Current Current Inventories, Net Current Current Inventories, Net Separative work units $ 13.0 $ 0.1 $ 12.9 $ 17.0 $ 4.6 $ 12.4 Uranium 67.0 6.9 60.1 47.8 0.3 47.5 Total $ 80.0 $ 7.0 $ 73.0 $ 64.8 $ 4.9 $ 59.9

Intangible Assets (Tables)

Intangible Assets (Tables)	9 Months Ended
	Sep. 30, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Intangible Assets and Excess Reorganization Value [Table Text Block]	Intangible asset balances are as follows (in millions): September 30, 2021 December 31, 2020 Gross Carrying Amount Accumulated Amortization Net Amount Gross Carrying Amount Accumulated Amortization Net Amount Sales order book $ 54.6 $ 34.0 $ 20.6 $ 54.6 $ 32.0 $ 22.6 Customer relationships 68.9 32.1 36.8 68.9 28.7 40.2 Total $ 123.5 $ 66.1 $ 57.4 $ 123.5 $ 60.7 $ 62.8

Debt Schedule of Debt (Tables)

Debt Schedule of Debt (Tables)	9 Months Ended
	Sep. 30, 2021
Debt Disclosure [Abstract]
Schedule of Debt	A summary of debt is as follows (in millions): September 30, 2021 December 31, 2020 Maturity Current Long-Term Current Long-Term 8.25% Notes: Feb. 2027 Principal $ — $ 74.3 $ — $ 74.3 Interest 6.1 27.5 6.1 33.7 Total $ 6.1 $ 101.8 $ 6.1 $ 108.0

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	9 Months Ended
	Sep. 30, 2021
Fair Value Disclosures [Abstract]
Schedule of Financial Instruments Recorded at Fair Value	Financial Instruments Recorded at Fair Value (in millions): September 30, 2021 December 31, 2020 Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total Assets: Cash and cash equivalents $ 171.0 $ — $ — $ 171.0 $ 152.0 $ — $ — $ 152.0 Deferred compensation asset (a) 3.0 — — 3.0 2.4 — — 2.4 Liabilities: Deferred compensation obligation (a) $ 2.8 $ — $ — $ 2.8 $ 2.3 $ — $ — $ 2.3

Pension and Postretirement He_2

Pension and Postretirement Health and Life Benefits (Tables)	9 Months Ended
	Sep. 30, 2021
Defined Benefit Plan Disclosure [Line Items]
Schedule of Net Benefit Costs [Table Text Block]	The components of net periodic benefit (credits) for the defined benefit pension plans were as follows (in millions): Three Months Ended Nine Months Ended 2021 2020 2021 2020 Service costs $ 0.6 $ 0.9 $ 2.0 $ 2.7 Interest costs 4.6 6.0 13.6 18.2 Amortization of prior service costs (credits), net (0.1) — (0.1) (0.2) Expected return on plan assets (gains) (9.6) (9.3) (28.8) (28.1) Net periodic benefit (credits) $ (4.5) $ (2.4) $ (13.3) $ (7.4) The components of net periodic benefit costs for the postretirement health and life benefit plans were as follows (in millions): Three Months Ended Nine Months Ended 2021 2020 2021 2020 Interest costs $ 0.9 $ 1.2 $ 2.6 $ 3.6 Amortization of prior service costs (credits), net — (0.1) (0.1) (0.1) Net periodic benefit costs $ 0.9 $ 1.1 $ 2.5 $ 3.5

Net Income Per Share (Tables)

Net Income Per Share (Tables)	9 Months Ended
	Sep. 30, 2021
Earnings Per Share [Abstract]
Schedule of Net Income Per Share	Three Months Ended September 30, Nine Months Ended 2021 2020 2021 2020 Numerator (in millions): Net income (loss) $ 42.1 $ (7.0) $ 58.8 $ 38.0 Less: Preferred stock dividends - undeclared and cumulative 0.7 1.9 2.1 5.9 Less: Distributed earnings allocable to retired preferred shares — — 6.6 — Net income (loss) allocable to common stockholders $ 41.4 $ (8.9) $ 50.1 32.1 Denominator (in thousands): Average common shares outstanding - basic 13,741 10,723 13,365 10,008 Potentially dilutive shares related to stock options and restricted stock units (a) 315 — 337 274 Average common shares outstanding - diluted 14,056 10,723 13,702 10,282 Net income (loss) per share (in dollars): Basic $ 3.01 $ (0.83) $ 3.75 $ 3.21 Diluted $ 2.95 $ (0.83) $ 3.66 $ 3.12 (a) Common stock equivalents excluded from the diluted calculation as a result of a net loss in the period (in thousands) — 317 — —

Segment Information (Tables)

Segment Information (Tables)	9 Months Ended
	Sep. 30, 2021
Segment Reporting Information, Revenue for Reportable Segment [Abstract]
Revenue from External Customers by Geographic Areas	The following table presents revenue from separative work units (“SWU”) and uranium sales disaggregated by geographical region based on the billing addresses of customers (in millions): Three Months Ended September 30, Nine Months Ended September 30, 2021 2020 2021 2020 United States $ 13.8 $ 18.7 $ 68.6 $ 66.7 Foreign 18.2 — 46.7 46.1 Revenue - SWU and uranium $ 32.0 $ 18.7 $ 115.3 $ 112.8
Segment Reporting Information	The following table presents the Company’s segment information (in millions): Three Months Ended Nine Months Ended 2021 2020 2021 2020 Revenue LEU segment: Separative work units $ 19.1 $ 0.1 $ 102.4 $ 89.4 Uranium 12.9 18.6 12.9 23.4 Total 32.0 18.7 115.3 112.8 Technical solutions segment 59.3 14.9 94.0 41.5 Total revenue $ 91.3 $ 33.6 $ 209.3 $ 154.3 Segment Gross Profit (Loss) LEU segment $ 8.3 $ (0.9) $ 39.2 $ 61.0 Technical solutions segment 41.2 0.1 39.1 1.6 Gross profit $ 49.5 $ (0.8) $ 78.3 $ 62.6

Revenue and Contracts with Cu_3

Revenue and Contracts with Customers (Narrative) (Details) - USD ($) $ in Millions	3 Months Ended	9 Months Ended
	Sep. 30, 2021	Sep. 30, 2021	Sep. 30, 2020	Dec. 31, 2020	Dec. 31, 2019
Deferred revenue, revenue recognized		$ 28.5	$ 0
Separative work units owed to others	$ 25.5	25.5		$ 20.7
Separative work units owed to others current	3	3
Separative work units owed to others noncurrent	22.5	22.5
Separative work units owed to others valuation adjustment	4.8
Government cost share portion	117.9	117.9
Accounts receivable, net	16.9	16.9		29.6
Proceeds from settlement with customer		43.5
Revenue, remaining performance obligation, amount	1,000	1,000		960
Gain Related to Litigation Settlement		43.5
Minimum [Member]
Company cost share portion					$ 18.3
Maximum [Member]
Government cost share portion	115	115
Government [Member]
Provision for Loss on Contracts	1.2	1.2		$ 7
Proceeds from Customers	$ 101.9
Pension Plan, Defined Benefit [Member]
Defined Contribution Plan, Employer Supplemental Contribution Amount		33.8
Other Postretirement Benefits Plan [Member]
Defined Contribution Plan, Employer Supplemental Contribution Amount		$ 9.7

Revenue and Contracts with Cu_4

Revenue and Contracts with Customers (Revenue from External Customers by Geographic Areas) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Revenue	$ 91.3	$ 33.6	$ 209.3	$ 154.3
Product [Member]
Revenue	32	18.7	115.3	112.8
Product [Member] | United States
Revenue	13.8	18.7	68.6	66.7
Product [Member] | Other Foreign
Revenue	$ 18.2	$ 0	$ 46.7	$ 46.1

Revenue and Contracts with Cu_5

Revenue and Contracts with Customers (Contract with Customer Asset and Liability) (Details) - USD ($) $ in Millions	3 Months Ended	9 Months Ended
	Sep. 30, 2021	Sep. 30, 2021	Sep. 30, 2020	Dec. 31, 2020
Deferred costs associated with deferred revenue	$ 137.2	$ 137.2		$ 151.9
Provision for Loss on Contract Change		(5.8)
Provision for Loss on Contract Noncurrent Change		(0.7)
Deferred revenue	259.1	259.1		281.7
Deferred revenue – change		(22.6)
Advances from customers, current	16.1	16.1		1.5
Customer advances – change		14.6
Advances from customer, noncurrent	45.1	45.1		45.2
Advances from customers, noncurrent - change		(0.1)
Deferred revenue, revenue recognized		(28.5)	$ 0
Provision for Loss on Contracts Total	1.2	1.2
Provision for Loss on Contracts Utilized	6.5		$ 8.7
Government [Member]
Provision for Loss on Contracts	1.2	1.2		7
Provision for loss on contracts, noncurrent	$ 0	$ 0		$ 0.7

Revenue and Contracts with Cu_6

Revenue and Contracts with Customers Revenue and Contracts with Customers (Schedule of Accounts Receivable) (Details) - USD ($) $ in Millions	Sep. 30, 2021	Dec. 31, 2020
Accounts, Notes, Loans and Financing Receivable [Line Items]
Billed accounts receivable	$ 12.7	$ 23
Unbilled contract revenue	4.2	6.6
Accounts receivable, net	$ 16.9	$ 29.6

Cash, Cash Equivalents and Re_3

Cash, Cash Equivalents and Restricted Cash (Schedule of Cash, Cash Equivalents and Restricted Cash) (Details) - USD ($) $ in Millions	Sep. 30, 2021	Dec. 31, 2020	Sep. 30, 2020	Dec. 31, 2019	Sep. 30, 2019
Cash and Cash Equivalents [Line Items]
Cash and cash equivalents	$ 171	$ 152	$ 152.8
Restricted cash included in other current assets	0.2		0.2
Restricted cash included in other long-term assets	5.7		5.7
Total cash, cash equivalents and restricted cash	$ 176.9	$ 157.9	$ 158.7	$ 136.6	$ 158.7

Cash, Cash Equivalents and Re_4

Cash, Cash Equivalents and Restricted Cash (Schedule of Restricted Cash) (Details) - USD ($) $ in Millions	Sep. 30, 2021	Sep. 30, 2020
Restricted Cash and Cash Equivalents Items [Line Items]
Restricted cash included in other current assets	$ 0.2	$ 0.2
Restricted cash included in other long-term assets	$ 5.7	$ 5.7

Cash, Cash Equivalents and Re_5

Cash, Cash Equivalents and Restricted Cash (Narrative) (Details) - USD ($) $ in Millions	Sep. 30, 2021	Sep. 30, 2020
Restricted cash included in other current assets	$ 0.2	$ 0.2
Restricted cash included in other long-term assets	$ 5.7	$ 5.7

Inventories (Schedule of Invent

Inventories (Schedule of Inventories) (Details) - USD ($) $ in Millions	Sep. 30, 2021	Dec. 31, 2020
Inventory, Net [Abstract]
Separative work units inventory	$ 13	$ 17
Uranium inventory	67	47.8
Inventories	80	64.8
Separative work units owed to customers and suppliers	0.1	4.6
Uranium owed to customers and suppliers	6.9	0.3
Inventories owed to customers and suppliers	7	4.9
Separative work units net of liability	12.9	12.4
Uranium inventory net of liability	60.1	47.5
Inventories, net	$ 73	$ 59.9

Schedule of Intangible Assets (

Schedule of Intangible Assets (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2021	Dec. 31, 2020
Finite-Lived Intangible Assets [Line Items]
Amortizable intangible assets, gross	$ 123.5	$ 123.5
Accumulated intangible asset amortization	(66.1)	(60.7)
Amortizable intangible assets, net	$ 57.4	62.8
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
Accumulated intangible asset amortization	(34)	(32)
Amortizable intangible assets, net	20.6	22.6
Customer-Related Intangible Assets [Member]
Finite-Lived Intangible Assets [Line Items]
Amortizable intangible assets, gross	68.9	68.9
Accumulated intangible asset amortization	(32.1)	(28.7)
Amortizable intangible assets, net	$ 36.8	$ 40.2

Schedule of Debt (Details)

Schedule of Debt (Details) - USD ($) $ in Millions	Sep. 30, 2021	Dec. 31, 2020
Debt Instrument [Line Items]
Long-term debt	$ 101.8	$ 108
Senior Notes [Member]
Debt Instrument [Line Items]
Long-term debt, face amount	74.3	74.3
Long-term debt, interest	27.5	33.7
Long-term debt, current	6.1	$ 6.1
Long-term debt	$ 101.8

Debt (Narrative) (Details)

Debt (Narrative) (Details) - USD ($) $ / shares in Units, $ in Millions	Sep. 30, 2021	Dec. 31, 2020
Preferred stock, liquidation preference per share	$ 1,347.29	$ 1,291.04
Senior Notes [Member]
Debt instrument interest rate	8.25%
Long-term debt, face amount	$ 74.3	$ 74.3
Long-term debt, current	$ 6.1	$ 6.1

Fair Value Measurements (Financ

Fair Value Measurements (Financial Instruments Recorded at Fair Value) (Details) - USD ($) $ in Millions	Sep. 30, 2021	Dec. 31, 2020	Sep. 30, 2020
Cash and cash equivalents	$ 171	$ 152
Cash and cash equivalents	171	152	$ 152.8
Deferred compensation asset	3	2.4
Deferred compensation obligation	2.8	2.3
Level 1 [Member]
Cash and cash equivalents		152
Deferred compensation asset	3	2.4
Deferred compensation obligation	$ 2.8	$ 2.3

Fair Value Measurements (Narrat

Fair Value Measurements (Narrative) (Details) - Senior Notes [Member] - USD ($) $ in Millions	Sep. 30, 2021	Dec. 31, 2020
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt, long-term and short-term, combined carrying value	$ 107.9	$ 114.1
Long-term debt, current	6.1	6.1
Long-term debt, fair value	74.3	68.6
Long-term debt, face amount	$ 74.3	$ 74.3

Pension and Postretirement He_3

Pension and Postretirement Health and Life Benefits (Narrative) (Details) $ in Millions	9 Months Ended
	Sep. 30, 2021USD ($)
Gain Related to Litigation Settlement	$ 43.5
Pension Plan, Defined Benefit [Member]
Defined Contribution Plan, Employer Supplemental Contribution Amount	33.8
Other Postretirement Benefits Plan [Member]
Defined Contribution Plan, Employer Supplemental Contribution Amount	$ 9.7

Pension and Postretirement He_4

Pension and Postretirement Health and Life Benefits (Schedule of Net Benefit Costs) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Pension Plan, Defined Benefit [Member]
Service costs	$ 0.6	$ 0.9	$ 2	$ 2.7
Interest costs	4.6	6	13.6	18.2
Amortization of prior service costs (credits), net	(0.1)	0	(0.1)	(0.2)
Expected return on plan assets (gains)	(9.6)	(9.3)	(28.8)	(28.1)
Net periodic benefit cost (credit)	(4.5)	(2.4)	(13.3)	(7.4)
Postretirement Health and Life Benefits Plans [Member]
Interest costs	0.9	1.2	2.6	3.6
Amortization of prior service costs (credits), net	0	(0.1)	(0.1)	(0.1)
Net periodic benefit cost (credit)	$ 0.9	$ 1.1	$ 2.5	$ 3.5

Net Income Per Share (Narrative

Net Income Per Share (Narrative) (Details) - USD ($)	3 Months Ended			9 Months Ended
	Sep. 30, 2021	Mar. 31, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020	Dec. 31, 2020
Debt Instrument [Line Items]
Preferred Stock, Par Value Per Share	$ 1			$ 1		$ 1
Exercise price of warrant	21.62			21.62
Exchange of preferred stock for common stock and common stock warrant		$ (100,000)
Preferred Stock, Liquidation Preference Per Share	$ 1,347.29			$ 1,347.29		$ 1,291.04
Other Preferred Stock Dividends and Adjustments	$ 0		$ 0	$ 6,600,000	$ 0
Interest expense	$ 0		$ 0	$ 0	$ 100,000
Common Stock [Member]
Debt Instrument [Line Items]
Conversion of Stock, Shares Converted	231,276
Preferred Stock [Member]
Debt Instrument [Line Items]
Conversion of Stock, Shares Converted	3,873
Exchange of preferred stock for common stock and common stock warrant	$ 7,500,000
Warrant [Member]
Debt Instrument [Line Items]
Conversion of Stock, Shares Converted	250,000

Net Income Per Share (Schedule

Net Income Per Share (Schedule of Income Per Share) (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Millions	3 Months Ended						9 Months Ended
	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Sep. 30, 2021	Sep. 30, 2020
Income Per Share Calculation [Line Items]
Net income (loss)	$ 42.1	$ 11.6	$ 5.1	$ (7)	$ 33.7	$ 11.3	$ 58.8	$ 38
Preferred stock dividends, undeclared and cumulative	0.7			1.9			2.1	5.9
Distributed earnings allocable to retired preferred shares	0			0			6.6	0
Net income (loss) allocable to common stockholders	$ 41.4			$ (8.9)			$ 50.1	$ 32.1
Average number of shares outstanding, basic	13,741			10,723			13,365	10,008
Potentially dilutive shares related to stock options	315			0			337	274
Average number of shares outstanding, diluted	14,056			10,723			13,702	10,282
Net income (loss) per common share - basic	$ 3.01			$ (0.83)			$ 3.75	$ 3.21
Net income (loss) per common share - diluted	$ 2.95			$ (0.83)			$ 3.66	$ 3.12
Antidilutive securities excluded from computation of earnings per share	0			317			0	0

Stockholders' Equity (Tables) (

Stockholders' Equity (Tables) (Details) - USD ($)	3 Months Ended
	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Sep. 30, 2020	Dec. 31, 2020
Class of Stock [Line Items]
Stock issued during period		$ 3,500,000	$ 23,800,000	$ 23,100,000
Preferred Stock Tender Offer Maximum	$ 43,342,384
Preferred Series B [Member]
Class of Stock [Line Items]
Conversion of Stock, Shares Converted	3,873
Preferred Stock, Shares Issued	37,847				41,720
Common Class A [Member]
Class of Stock [Line Items]
Conversion of Stock, Shares Converted	231,276
Stock Issued During Period, Shares, New Issues	1,238,637
Common Stock, Shares, Issued	13,286,103				11,390,189
Common Class B [Member]
Class of Stock [Line Items]
Common Stock, Shares, Issued	719,200				719,200

Stockholders' Equity (Narrative

Stockholders' Equity (Narrative) (Details) - USD ($)	3 Months Ended			9 Months Ended
	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Sep. 30, 2021	Dec. 31, 2020
Class of Stock [Line Items]
Preferred Stock, Shares Authorized	20,000,000			20,000,000	20,000,000
Preferred Stock, Par Value Per Share	$ 1			$ 1	$ 1
Preferred Stock, Liquidation Preference Per Share	$ 1,347.29			$ 1,347.29	$ 1,291.04
Stock Issued During Period, Value, Gross	$ 28,700,000
Stock Issued During Period, Value, Net	27,600,000
Receivable from issuance of stock		$ (700,000)	$ 700,000
Direct Costs of Stock Issuance	$ 400,000
Shares Reserved for Share Based Payment, Increase	700,000
Preferred Stock Retired, Liquidation Preference	$ 5,000,198
Warrants outstanding	250,000			250,000
Exercise price of warrant	$ 21.62			$ 21.62
Reclassification of stock-based compensation liability to equity	$ 7,500,000		$ 7,500,000
Common Class A [Member]
Class of Stock [Line Items]
Common Stock, Shares Authorized	70,000,000			70,000,000	70,000,000
Common Stock, Par or Stated Value Per Share	$ 0.10			$ 0.10	$ 0.10
Common Stock, Shares, Issued	13,286,103			13,286,103	11,390,189
Stock Issued During Period, Shares, New Issues	1,238,637
Conversion of Stock, Shares Converted	231,276
Common Class B [Member]
Class of Stock [Line Items]
Common Stock, Shares Authorized	30,000,000			30,000,000	30,000,000
Common Stock, Par or Stated Value Per Share	$ 0.10			$ 0.10	$ 0.10
Common Stock, Shares, Issued	719,200			719,200	719,200
Preferred Series B [Member]
Class of Stock [Line Items]
Preferred Stock, Shares Issued	37,847			37,847	41,720
Preferred stock	$ 100,000			$ 100,000	$ 100,000
Preferred Stock, Dividend Rate, Percentage				7.50%
Conversion of Stock, Shares Converted	3,873
Preferred Stock, Liquidation Preference, Value	$ 51,000,000			$ 51,000,000	$ 53,900,000

Commitment and Contingencies (D

Commitment and Contingencies (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2021	Dec. 31, 2020
Claim filed, unrecorded gain contingency,		$ 42.8
Gain Related to Litigation Settlement	$ 43.5
Loss Contingency, Possible Loss Not Accrued	9.6
Pension Plan, Defined Benefit [Member]
Defined Contribution Plan, Employer Supplemental Contribution Amount	33.8
Other Postretirement Benefits Plan [Member]
Defined Contribution Plan, Employer Supplemental Contribution Amount	$ 9.7

Segment Information (Segment Re

Segment Information (Segment Reporting Information) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Segment Reporting Information [Line Items]
Revenue	$ 91.3	$ 33.6	$ 209.3	$ 154.3
Gross Profit	49.5	(0.8)	78.3	62.6
Low Enriched Uranium Segment [Member]
Segment Reporting Information [Line Items]
Gross Profit	8.3	(0.9)	39.2	61
Technical Solutions Segment [Member]
Segment Reporting Information [Line Items]
Gross Profit	41.2	0.1	39.1	1.6
Separative Work Units [Member]
Segment Reporting Information [Line Items]
Revenue	19.1	0.1	102.4	89.4
Uranium [Member]
Segment Reporting Information [Line Items]
Revenue	12.9	18.6	12.9	23.4
Product [Member]
Segment Reporting Information [Line Items]
Revenue	32	18.7	115.3	112.8
Service [Member]
Segment Reporting Information [Line Items]
Revenue	$ 59.3	$ 14.9	$ 94	$ 41.5

Segment Information Schedule Of

Segment Information Schedule Of Entity Wide Revenue By Major Customers (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Customer A [Member] | Low Enriched Uranium Segment [Member]
Revenue, Major Customer [Line Items]
Revenue	$ 18.2	$ 11.3	$ 28.5	$ 32.4
Customer A [Member] | Technical Solutions Segment [Member]
Revenue, Major Customer [Line Items]
Revenue	$ 56.5	13.5	$ 87.7	33.4
Customer B [Member] | Low Enriched Uranium Segment [Member]
Revenue, Major Customer [Line Items]
Revenue		$ 7.4		23.4
Customer C [Member] | Low Enriched Uranium Segment [Member]
Revenue, Major Customer [Line Items]
Revenue				$ 17.9

Subsequent Event Narrative (Det

Subsequent Event Narrative (Details) - USD ($)	Sep. 30, 2021	Dec. 31, 2020
Preferred Stock Tender Offer Maximum	$ 43,342,384
Preferred Stock, Par Value Per Share	$ 1	$ 1
Preferred Stock Tender Offer Per Share	1,145.2
Preferred Stock, Liquidation Preference Per Share	$ 1,347.29	$ 1,291.04