Document and Entity Information - shares	9 Months Ended
Document and Entity Information - shares	Sep. 30, 2018	Nov. 01, 2018
Document and Entity Information
Entity Registrant Name	CENTRUS ENERGY CORP
Entity Central Index Key	0001065059
Trading Symbol	LEU
Current Fiscal Year End Date	--12-31
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Sep. 30, 2018
Entity Filer Category	Smaller Reporting Company
Entity Common Stock, Shares Outstanding		9,038,751
Document Fiscal Year Focus	2018
Document Fiscal Period Focus	Q3

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Sep. 30, 2018	Dec. 31, 2017
Current Assets
Cash and cash equivalents	$ 124.9	$ 208.8
Accounts receivable, net	2.5	60.2
Inventories	129.4	153.1
Deferred costs associated with deferred revenue	122.7	122.3
Deposits for financial assurance	30.2	16.3
Other current assets	6.9	6.2
Total current assets	416.6	566.9
Property, Plant and Equipment, Net	4.4	4.9
Deposits for surety bonds	6.2	19.7
Intangible assets	78.1	82.7
Other long-term assets	0.7	1.1
Total Assets	506.0	675.3
Current Liabilities
Accounts payable and accrued liabilities	46.9	48.2
Payables under SWU purchase agreements	14.6	79.4
Inventories owed to customers and suppliers	70.2	77.9
Deferred revenue and advances from customers	175.6	191.8
Current debt	39.1	6.1
Total current liabilities	346.4	403.4
Long-term debt	120.2	157.5
Postretirement health and life benefit obligations	150.9	154.2
Pension benefit liabilities	143.5	161.6
Advances from customers	14.5	0.0
Other long-term liabilities	8.0	17.5
Total liabilities	783.5	894.2
Commitments and contingencies (Note 11)
Stockholders' Deficit
Excess of capital over par value	60.3	60.0
Accumulated deficit	(343.3)	(284.5)
Accumulated other comprehensive income (loss), net of tax	0.0	0.1
Total stockholders' deficit	(277.5)	(218.9)
Total Liabilities and Stockholders’ Equity (Deficit)	506.0	675.3
Preferred Series B [Member]
Stockholders' Deficit
Preferred stock	4.6	4.6
Common Class A [Member]
Stockholders' Deficit
Common stock	0.8	0.8
Common Class B [Member]
Stockholders' Deficit
Common stock	$ 0.1	$ 0.1

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($)	9 Months Ended	12 Months Ended
CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($)	Sep. 30, 2018	Dec. 31, 2017
Preferred Stock, Par Value Per Share	$ 1.00	$ 1.00
Preferred Stock, Shares Authorized	20,000,000	20,000,000
Preferred Stock, Shares Issued	104,574
Accumulated Depreciation, Property, Plant, and Equipment	$ 1,500,000	$ 1,900,000
Preferred Series B [Member]
Preferred Stock, Par Value Per Share	$ 1.00
Preferred Stock, Dividend Rate, Percentage	7.50%	7.50%
Preferred Stock, Shares Issued	104,574	104,574
Preferred Stock, Liquidation Preference, Value	$ 117,400,000	$ 111,500,000
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	7,632,669	7,632,669
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	1,406,082	1,406,082

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Revenue:
Revenue, Goods	$ 28.9	$ 43.5	$ 83.1	$ 82.2
Contract services	5.2	6.8	26.1	19.3
Total Revenue	34.1	50.3	109.2	101.5
Cost of Sales:
Separative work units and uranium	20.9	32.7	98.6	77.9
Contract services	5.4	6.3	18.8	19.9
Total cost of sales	26.3	39.0	117.4	97.8
Gross profit (loss)	7.8	11.3	(8.2)	3.7
Advanced technology license and decommissioning costs	5.8	4.5	19.2	15.0
Selling, general and administrative	8.8	11.0	29.7	33.1
Amortization of intangible assets	1.7	2.5	4.5	5.7
Special charges for workforce reductions and advisory costs	0.6	2.4	1.5	7.1
Other (income)	0.0	(0.6)	(0.3)	(2.3)
Operating (loss)	(9.1)	(8.5)	(62.8)	(54.9)
Gain on early extinguishment of debt	0.0	0.0	0.0	(33.6)
Nonoperating components of periodic benefit expense (income), net	(1.6)	(0.3)	(4.9)	(1.1)
Interest expense	1.0	0.7	3.0	4.3
Interest (income)	(0.7)	(0.4)	(1.9)	(1.0)
Income (loss) before income taxes	(7.8)	(8.5)	(59.0)	(23.5)
Provision (benefit) for income taxes	0.0	0.0	(0.1)	(0.2)
Net income (loss)	(7.8)	(8.5)	(58.9)	(23.3)
Preferred stock dividends, undeclared and cumulative	1.9	2.0	5.9	5.0
Net income (loss) allocable to common stockholders	$ (9.7)	$ (10.5)	$ (64.8)	$ (28.3)
Net loss per share - basic and diluted	$ (1.06)	$ (1.15)	$ (7.11)	$ (3.12)
Weighted-average number of shares outstanding:
Average number of common shares outstanding, basic and diluted	9,133	9,103	9,118	9,081
Weighted Average Number of Shares Outstanding, Diluted	9,133	9,103	9,118	9,081
Separative Work Units [Member]
Revenue:
Revenue, Goods	$ 17.6	$ 43.5	$ 68.2	$ 82.2
Uranium [Member]
Revenue:
Revenue, Goods	$ 11.3	$ 0.0	$ 14.9	$ 0.0

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Net income (loss)	$ (7.8)	$ (8.5)	$ (58.9)	$ (23.3)
Amortization of prior service costs (credits)	0.0	0.0	(0.1)	(0.1)
Other comprehensive income (loss), before tax	0.0	0.0	(0.1)	(0.1)
Income tax expense related to items of other comprehensive income	0.0	0.0	0.0	0.0
Other comprehensive income (loss), net of tax	0.0	0.0	(0.1)	(0.1)
Comprehensive income (loss)	$ (7.8)	$ (8.5)	$ (59.0)	$ (23.4)

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017
Cash Flows from Operating Activities
Net income (loss)	$ (58.9)	$ (23.3)
Adjustments to reconcile net income (loss) to net cash (used in) operating activities:
Depreciation and amortization	5.1	6.6
Interest on paid-in-kind toggle notes	1.2	1.2
Gain on early extinguishment of debt	0.0	(33.6)
Gain on sale of assets	(0.3)	(2.3)
Changes in operating assets and liabilities:
Accounts receivable – (increase) decrease	57.6	14.5
Inventories, net – (increase) decrease	30.6	17.9
Payables under SWU purchase agreements – increase (decrease)	(64.8)	(42.3)
Deferred revenue, net of deferred costs – increase (decrease)	(16.7)	2.9
Accounts payable and other liabilities – increase (decrease)	(1.4)	(20.1)
Pension and postretirement liabilities - increase (decrease)	(21.3)	(6.2)
Other, net	(8.8)	(1.9)
Net Cash (Used in) Operating Activities	(77.7)	(86.6)
Cash Flows Provided by Investing Activities
Capital expenditures	(0.1)	(0.3)
Proceeds from sales of assets	(0.4)	(2.1)
Net Cash Provided by (Used in) Investing Activities	0.3	1.8
Cash Flows Used in Financing Activities
Payment of interest classified as debt	(6.1)	(3.4)
Repurchase of debt	0.0	(27.6)
Payment of securities transaction costs	0.0	(9.0)
Net Cash (Used in) Financing Activities	(6.1)	(40.0)
Decrease in cash, cash equivalents and restricted cash	(83.5)	(124.8)
Cash, cash equivalents and restricted cash, start of period	244.8	296.7
Cash, cash equivalents and restricted cash, end of period	161.3	171.9
Supplemental Cash Flow Information:
Interest paid	0.8	4.2
Conversion of interest payable-in-kind to long-term debt	1.7	0.4
Exchange of debt for Series B preferred stock	$ 0.0	$ 4.6

CONSOLIDATED STATEMENTS OF STOCKHOLDERS' DEFICIT - USD ($) $ in Millions	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, 2016	$ (236.1)	$ 0.0		$ 0.8	$ 0.1	$ 59.5	$ (296.7)	$ 0.2
Net income (loss)	(23.3)						(23.3)
Stock issued during period	4.6	4.6
Other comprehensive income, net of tax (Note 12)	(0.1)							(0.1)
Restricted and other common stock issued, net of amortization	0.3					0.3
Ending Balance at Sep. 30, 2017	(254.6)	4.6		0.8	0.1	59.8	(320.0)	0.1
Beginning Balance at Dec. 31, 2017	(218.9)	$ 4.6		0.8	0.1	60.0	(284.5)	0.1
Adoption of ASC 606 as of January 1, 2018 (Note 1)	0.1						0.1
Net income (loss)	(58.9)
Other comprehensive income, net of tax (Note 12)	(0.1)
Restricted and other common stock issued, net of amortization	0.3					0.3
Ending Balance at Sep. 30, 2018	$ (277.5)		$ 4.6	$ 0.8	$ 0.1	$ 60.3	$ (343.3)	$ 0.0

Basis of Presentation

9 Months Ended

Sep. 30, 2018

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, 2018, and for the three and nine months ended September 30, 2018 and 2017, have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”). The condensed consolidated balance sheet as of December 31, 2017, 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.

Operating results for the three and nine months ended September 30, 2018, are not necessarily indicative of the results that may be expected for the year ending December 31, 2018. 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, 2017.

Correction of Error

In the second quarter of 2018, Management identified a classification error for $0.3 million of costs that had been previously included in Cost of Sales for the Contract Services Segment in the condensed consolidated statement of operations for the three months ended March 31, 2018. These costs are now included in Advanced Technology License and Decommissioning Costs in the condensed consolidated statement of operations for the nine months ended September 30, 2018. The Company considered quantitative and qualitative factors in assessing the materiality of the classification error and determined that the classification error was not material. This revision had no impact to the Company’s net loss for the three months ended March 31, 2018 or the nine months ended September 30, 2018.

New Accounting Standards

Recently Adopted Accounting Standards

In 2014, the Financial Accounting Standards Board (the “FASB”) issued Accounting Standards Update (“ASU”) 2014-09, Revenue from Contracts with Customers, which requires revenue to be recognized when a customer obtains control of promised goods and services at an amount that reflects the consideration the Company expects to receive in exchange for those goods and services. In addition, ASU 2014-09 and subsequent amendments, collectively known as Accounting Standards Codification (“ASC”) 606 (“ASC 606”) require certain additional disclosures regarding the nature, amount, timing, and uncertainty of revenues and cash flows arising from contracts with customers.

The Company adopted ASC 606 on January 1, 2018, using the modified retrospective method. The new standard was applied to contracts that were not completed as of the adoption date. The Company recognized the cumulative effect of initially applying ASC 606 of $0.1 million as an adjustment to the opening balance of accumulated deficit. The comparative information has not been restated and continues to be presented according to accounting standards in effect for those periods. Refer to Note 2, Revenue Recognition and Contracts with Customers, for additional information.

The following table summarizes the cumulative effect of the changes to the Company’s condensed consolidated balance sheet as of January 1, 2018, from the adoption of ASC 606 (in millions):



	Balance at December 31, 2017			Adjustment for ASC 606		Balance at January 1, 2018
Assets:
Unbilled contract revenue	$	—		$	0.1	$	0.1
Stockholders’ Deficit:
Accumulated Deficit	(284.5		)	0.1		(284.4		)

The following table summarizes the impact of adopting ASC 606 on revenue and net loss for the three and nine months ended September 30, 2018 (in millions):



	Three Months Ended September 30, 2018								Nine Months Ended September 30, 2018
	As Reported			Under Previous Accounting			Effect of Adoption		As Reported			Under Previous Accounting			Effect of Adoption
Revenue	$	34.1		$	32.2		$	1.9	$	109.2		$	109.3		$	(0.1	)
Net loss	(7.8		)	(9.7		)	1.9		(58.9		)	(58.8		)	(0.1		)

The effect of adoption for the nine months ended September 30, 2018, includes the opening balance adjustment of $0.1 million.

In March 2017, the FASB issued ASU 2017-07, Compensation-Retirement Benefits (Topic 715): Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost. ASU 2017-07 requires changes to the presentation of the components of net periodic benefit cost on the statement of operations by requiring service cost to be presented with other employee compensation costs and other components of net periodic benefit cost to be presented outside of any subtotal of operating income. The Company adopted this standard on January 1, 2018, on a retrospective basis for all periods presented, and certain prior period amounts have been recast to conform with the current presentation as follows (in millions):



	Three Months Ended September 30, 2017								Nine Months Ended September 30, 2017
	As Previously Reported		Adjustments			Current Presentation			As Previously Reported		Adjustments			Current Presentation
Cost of sales - separative work units and uranium	$	32.4	$	0.3		$	32.7		$	76.8	$	1.1		$	77.9
Nonoperating components of net periodic benefit expense (income)	—		(0.3		)	(0.3		)	—		(1.1		)	(1.1		)

Refer to Note 9, Pension and Postretirement Benefits, for additional information.

In August 2016, the FASB issued ASU 2016-15, Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments. ASU 2016-15 addresses the presentation and classification of certain cash receipts and cash payments in the statement of cash flows. It is intended to reduce diversity in practice by providing guidance on eight specific cash flow issues. ASU 2016-15 became effective for the Company on January 1, 2018. Upon adoption, the Company reclassified $9.0 million of transaction costs incurred in the first quarter of 2017 related to the note exchange (see Note 7, Debt) in the statement of cash flows as follows (in millions):



	Nine Months Ended September 30, 2017
	As Previously Reported			Adjustments			Current Presentation
Cash used in operating activities	$	(95.6	)	$	9.0		$	(86.6	)
Cash used in financing activities	(31.0		)	(9.0		)	(40.0		)

In November 2016, the FASB issued ASU 2016-18, Statement of Cash Flows (Topic 230): Restricted Cash. ASU 2016-18 requires that the statement of cash flows explain the change during the period in the total of cash, cash equivalents, and amounts generally described as restricted cash or restricted cash equivalents. ASU 2016-18 is to be applied retrospectively for each period presented. The Company adopted the new standard on January 1, 2018. Upon adoption, the Company added its restricted cash balances to the consolidated statement of cash flows, and the prior period amounts have been recast to conform with the current presentation.

In October 2016, the FASB issued ASU 2016-16, Income Taxes (Topic 740): Intra-Entity Transfers of Assets Other Than Inventory, requiring the recognition of the current and deferred income taxes resulting from an intra-entity transfer of assets other than inventory when the transfer occurs. The Company adopted the new standard on January 1, 2018, on a modified retrospective basis. The adoption of ASU 2016-16 did not have a material impact on our consolidated financial statements, including the cumulative effect adjustment required upon adoption.

Accounting Standards Effective in Future Periods

In February 2016, the FASB issued ASU 2016-02, Leases (Topic 842), which requires lessees to recognize a right-of-use asset and lease liability on the balance sheet for all leases with terms longer than 12 months. Leases will be classified as either financing or operating, with classification affecting expense recognition in the statement of operations. The standard is effective for public companies for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2018. The new guidance, as amended in July 2018 by ASU 2018-11, Leases (Topic 842): Targeted Improvements, requires a transition adoption election using either 1) a modified retrospective approach with periods prior to the adoption date being recast or 2) a prospective adoption approach with a cumulative-effect adjustment recognized to the opening balance of retained earnings on the adoption date with prior periods not recast. The Company is finalizing its evaluation of lease arrangements. In the Company’s most recent Annual Report on Form 10-K, the Company reported undiscounted operating lease obligations of approximately $13 million as of December 31, 2017. The Company anticipates adopting this standard on January 1, 2019, using the prospective adoption approach.

In August 2018, the FASB issued ASU 2018-14, Compensation - Retirement Benefits - Defined Benefit Plans - General (Subtopic 715-20), which modifies the disclosure requirements for employers that sponsor defined benefit pension plans and other postretirement plans. ASU 2018-14 is effective for public companies for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2020. The standard is to be applied on a retrospective basis to all periods presented and early adoption is permitted. The Company is evaluating the effect that the provisions of ASU 2018-14 will have on its consolidated financial statements.

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 2017 Annual Report on Form 10-K. Updates to those policies as a result of the adoption of ASC 606 have been included in Note 2, Revenue Recognition and Contracts with Customers.

Revenue Recognition and Contracts with Customers

9 Months Ended

Sep. 30, 2018

Revenue from Contract with Customer [Abstract]

Revenue from Contract with Customer

REVENUE RECOGNITION AND CONTRACTS WITH CUSTOMERS

On January 1, 2018, the Company adopted ASC 606 using the modified retrospective method as applied to customer contracts that were not completed as of the adoption date. As a result, financial information for reporting periods beginning on or after January 1, 2018, are presented under ASC 606, while comparative financial information has not been adjusted and continues to be reported in accordance with the Company’s historical accounting policy for revenue recognition prior to the adoption of ASC 606. There was no material impact of adopting ASC 606 for sales under the LEU Segment. For sales under the Contract Services Segment, revenue is now primarily recognized using a cost-to-cost method to measure the transfer of control of contract services to the customer.

Revenue Recognition

Revenue for product and service sales is recognized when or as the Company transfers control of the promised products or services to the customer. Revenue is measured at the transaction price which is based on the amount of consideration that the Company expects to receive in exchange for transferring the promised goods or services to the customer. The transaction price will include estimates of variable consideration to the extent it is probable that a significant reversal of revenue recognized will not occur.

Revenue for the Company’s LEU Segment is derived from sales of the separative work units (“SWU”) component of low-enriched uranium (“LEU”), from sales of both the SWU and uranium components of LEU, and from sales of uranium. Contracts with customers are primarily long-term, fixed-commitment contracts under which its customers are obligated to purchase a specified quantity of the SWU component of LEU or the SWU and uranium components of LEU. The Company’s contracts for natural uranium are generally shorter-term, fixed- commitment contracts.

Revenue is recognized at the time the customer obtains control of the LEU or uranium. Customers generally obtain control of LEU at fuel fabricators. Centrus ships LEU to nuclear fuel fabricators for scheduled or anticipated orders from utility customers. Based on customer orders, Centrus arranges for the transfer of title of LEU from Centrus to the customer for the specified quantity of LEU at the fuel fabricator. Revenue is recognized when control of LEU is transferred to the customer at the fuel fabricator. Each such delivery to a customer is accounted for as a distinct performance obligation under a contract, and a contract may call for multiple deliveries over a number of periods. The contract’s transaction price is allocated to each performance obligation based on the observable standalone selling price of each distinct delivery of SWU or uranium.

Utility customers in general have the option to defer physical receipt of LEU or uranium purchased from the Company beyond the contractual sale period. In such cases, title to LEU or uranium is transferred to the customer and a performance obligation for Centrus is created and a receivable is recorded. Cash is collected for the receivable under normal credit terms. The performance obligation is represented as Deferred Revenue on the balance sheet and the customer-titled product is classified as Deferred Costs Associated with Deferred Revenue. Risk of loss remains with Centrus until physical delivery occurs. The recognition of revenue and related cost of sales occurs at the time physical delivery occurs and control and risk of loss of the product transfer to the customer, which may occur beyond one year. The timing of physical delivery, subject to notice period requirements, is at the option of the customer. As such, deferred costs and deferred revenue are classified within current assets and current liabilities, respectively.

On occasion, the Company will accept payment in the form of uranium. Revenue from the sale of SWU under such contracts is recognized at the time LEU is delivered and is based on the fair value of the uranium at contract inception or as the quantity of uranium is finalized, if variable. In the second quarter of 2018, the Company received uranium valued at $14.5 million from a customer that elected to defer a SWU purchase obligation for a period greater than one year. Under the contract, the customer has not received title to SWU or LEU product from the Company. The Company’s contract liability to the customer is classified as Advances from Customers, a noncurrent liability.

Amounts billed to customers for handling costs are included in sales. Handling costs are accounted for as a fulfillment cost and are included in cost of sales. The Company does not have shipping costs associated with outbound freight after control over a product has transferred to a customer. The Company’s contracts with customers do not provide for significant payment terms or financing components.

Revenue for the Contract Services Segment, principally representing engineering and testing activities performed by the Company as well as technical and resource support, is recognized over the contractual period as services are rendered. The contract services segment also includes limited services provided by Centrus to the U.S. Department of Energy (“DOE”) and its contractors at the Portsmouth site related to facilities the Company leases from DOE. In the nine months ended September 30, 2018, revenue for the contract services segment included $9.5 million under a January 2018 settlement agreement with DOE and the U.S. government. Refer below to Contract Balances for additional details.

The Company recognizes revenue over time as it performs on these contracts because of the continuous transfer of control to the customer. With control transferring over time, revenue is recognized based on the extent of progress towards completion of the performance obligation. A contract may contain one or more performance obligations. Two or more promises to transfer goods or services to a customer may be considered a single performance obligation if the goods or services are highly interdependent or highly interrelated such that utility of the promised goods or services to the customer includes integration services provided by the Company.

The Company principally uses the cost-to-cost input method of progress for its contracts because it best depicts the transfer of control to the customer that occurs as the Company incurs costs. Under the cost-to-cost method, the extent of progress towards completion is measured based on the proportion of direct costs incurred to date to the total estimated direct costs at completion of the performance obligation. Revenues are recorded proportionally as costs are incurred. If transaction prices are not stated in the contract for each performance obligation, contractual prices are allocated to performance obligations based on estimated relative standalone selling prices of the promised services. For contracts that are not accounted for under the percentage of completion method, the Company records revenue as services are provided. The Company recognizes time-and-material contract revenue at negotiated, fixed, contractually billable rates as it delivers labor hours and incurs other direct expenses.

The Company has applied the practical expedient in paragraph ASC 606 and does not provide the value of remaining performance obligations under service contracts having original expected terms of one year or less.

The timing of revenue recognition may differ from the timing of invoicing to customers. Progress on satisfying performance obligations under contracts with customers and the related billings and cash collections are recorded on the consolidated balance sheet as contract assets or contract liabilities. Contract balances are classified as assets or liabilities on a contract-by-contract basis at the end of each reporting period.

Unbilled receivables (contract assets) are included in Accounts Receivable and arise when the timing of cash collected from customers differs from the timing of revenue recognition, such as when contract provisions require specific milestones to be met before a customer can be billed. Those assets are recognized when the revenue associated with the contract is recognized prior to billing and derecognized when billed in accordance with the terms of the contract. To the extent billings to the customer precede the recognition of contract services revenue, the Company recognizes a liability included in Deferred Revenue and Advances from Customers on the consolidated balance sheet.

Disaggregation of Revenue

The following table presents revenue from 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,
	2018		2017		2018		2017
United States	$	0.3	$	26.2	$	54.3	$	37.1
Europe	28.6		17.3		28.7		17.4
Asia	—		—		0.1		27.7
Revenue - SWU and uranium	$	28.9	$	43.5	$	83.1	$	82.2

Refer to Note 13, Segment Information, for disaggregation of revenue by segment. Disaggregation by end-market is provided in Note 13 and the condensed consolidated statement of operations. SWU and uranium sales are made primarily to electric utility customers. Contract services revenue results primarily from services provided to government contractors and, in the first quarter of 2018, the settlement with DOE and the U.S. government. SWU and uranium revenue is recognized at point of sale and contract services revenue is generally recognized over time.

Contract Balances

The following table represents changes in our contract assets and contract liabilities balances (in millions):



	September 30, 2018		January 1, 2018		Year-To-Date Change
Contract assets
Accounts receivable:
Billed	$	2.5	$	60.2	$	(57.7	)
Unbilled contract revenue	—		0.1		(0.1		)
Accounts receivable	$	2.5	$	60.3	$	(57.8	)

Deferred costs associated with deferred revenue	$	122.7	$	122.3	$	0.4

Contract liabilities
Deferred revenue and advances from customers - current:
Deferred revenue	$	175.6	$	172.5	$	3.1
Advances from customers	—		19.3		(19.3		)
Deferred revenue and advances from customers - current	$	175.6	$	191.8	$	(16.2	)

Advances from customers - noncurrent	$	14.5	$	—	$	14.5

Deferred cost and deferred revenue activity in the nine months ended September 30, 2018, follows (in millions):



	Deferred Sales in the Period		Previously Deferred Sales Recognized in the Period			Year-To-Date Change
Deferred costs associated with deferred revenue	$	10.6	$	(10.2	)	$	0.4
Deferred revenue	23.3		(20.2		)	3.1

On January 11, 2018, the Company entered into a settlement agreement with DOE and the U.S. government regarding breach of contract claims relating to work performed by the Company under contracts with DOE and subcontracts with DOE contractors. DOE agreed to settle all claims raised as part of and subsequent to the litigation, except with respect to certain claims for pension and postretirement benefits, for a total of $24.0 million and provide a complete close out of all such contracts and subcontracts settled under the settlement agreement without any further audit or review of the Company’s costs or incurred cost submissions. Prior to the settlement, the Company had a receivables balance related to the claims being settled of $14.5 million. In the nine months ended September 30, 2018, the Company (a) received $4.7 million from the U.S. government, (b) applied approximately $19.3 million of advances from the U.S. government received in prior years against the receivables balance, and (c) recorded additional revenue of $9.5 million.

Centrus and DOE have yet to fully settle the Company’s claims for reimbursements for certain pension and postretirement benefits costs related to past contract work performed for DOE. There is the potential for additional revenue to be recognized for this work pending the outcome of legal proceedings related to the Company’s claims for payment and the potential release of previously established valuation allowances on receivables. As a result of the application of fresh start accounting following the Company’s emergence from Chapter 11 bankruptcy on September 30, 2014, the receivables related to the Company’s claims for payment are carried at fair value as of September 30, 2014, which is net of the valuation allowances.

LEU Segment Order Book

The SWU component of LEU is typically bought and sold under long-term contracts with deliveries over several years. The Company’s agreements for natural uranium sales are generally shorter-term, fixed-commitment contracts. The Company’s order book of sales under contract in the LEU Segment (“order book”) extends for more than a decade. The order book represents the Company’s remaining performance obligations under these contracts and includes the Deferred Revenue amounts in the Contract Balances table above. The order book was $1.1 billion as of September 30, 2018, compared to $1.3 billion at December 31, 2017, reflecting completed deliveries and new contracts signed in the nine months ended September 30, 2018, and a rejection of a contract by a customer in bankruptcy proceedings. No other adjustments were required to the Company’s condensed consolidated financial statements as a result of the contract rejection. Refer to Note 14, Subsequent Event, for additional information regarding the customer and claims filed by the Company.

Most of the Company’s contracts provide for fixed purchases of SWU during a given year. The Company’s estimate of the aggregate dollar amount of future SWU and uranium sales 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. The Company’s order book estimate is also based on the Company’s estimates of selling prices, which are subject to change. For example, depending on the terms of specific contracts, prices may be adjusted 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. The Company uses external composite forecasts of future market prices and inflation rates in its pricing estimates. Refer to Item 1A, Risk Factors, of the Company’s 2017 Annual Report on Form 10-K for a discussion of risks related to the Company’s order book.

Special Charges

9 Months Ended

Sep. 30, 2018

Restructuring and Related Activities [Abstract]

Special Charges

SPECIAL CHARGES

Special charges totaled $1.5 million and $7.1 million for the nine months ended September 30, 2018, and 2017, respectively, including advisory costs of $0.1 million and $5.0 million. In 2018 and 2017, advisory costs related to updating the Company’s information technology systems.

Workforce reductions have resulted from evolving business needs and the completion of the demonstration of American Centrifuge technology at the Company’s facility in Piketon, Ohio. Without mutual agreement between Centrus and DOE regarding other possible uses for the Piketon facility, the remaining balance of termination benefits of $3.2 million related to the Piketon facility is expected to be paid in the third quarter of 2019 and is classified in Accounts Payable and Accrued Liabilities in the condensed consolidated balance sheet. A summary of termination benefit activity and related liabilities follows (in millions):



	Liability December 31, 2017		Nine Months Ended September 30, 2018					Liability September 30, 2018
	Liability December 31, 2017		Charges for Termination Benefits		Paid/Settled			Liability September 30, 2018
Workforce reductions:
Evolving business needs	$	0.8	$	1.3	$	(1.5	)	$	0.6
Piketon demonstration facility	5.7		0.1		(2.6		)	3.2
Total	$	6.5	$	1.4	$	(4.1	)	$	3.8

Cash, Cash Equivalents and Restricted Cash

9 Months Ended

Sep. 30, 2018

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 condensed consolidated statement of cash flows (in millions):



	September 30, 2018		December 31, 2017

Cash and cash equivalents	$	124.9	$	208.8
Deposits for financial assurance - current	30.2		16.3
Deposits for financial assurance - noncurrent	6.2		19.7
Total cash, cash equivalents and restricted cash	$	161.3	$	244.8

The following table provides additional detail regarding the Company’s deposits for financial assurance (in millions):



	September 30, 2018				December 31, 2017
	Current		Long-Term		Current		Long-Term
NRC license	$	16.3	$	—	$	16.1	$	—
DOE lease	13.7		—		—		13.5
Workers compensation	—		5.9		—		5.9
Other	0.2		0.3		0.2		0.3
Total deposits for financial assurance	$	30.2	$	6.2	$	16.3	$	19.7

Piketon Facility Obligations and Surety Bonds

Centrus commenced with the decontamination and decommissioning (“D&D”) of the Piketon facility in accordance with the U.S. Nuclear Regulatory Commission (“NRC”) license requirements in 2016. Centrus has previously provided financial assurance to the NRC for the D&D work in the form of surety bonds that are fully cash collateralized by Centrus for $16.3 million. Centrus believes the D&D work required for elimination of financial assurance under NRC license requirements has been completed and is working with the NRC to have the surety bonds cancelled, which would permit the Company to receive the cash collateral.

Centrus leases the Piketon facility from DOE. At the conclusion of the lease on June 30, 2019, without mutual agreement between Centrus and DOE regarding other possible uses for the facility, Centrus is obligated to return the facility to DOE in a condition that meets NRC license requirements and in the same condition as the facility was in when it was leased to Centrus (other than due to normal wear and tear). Centrus must remove all Company-owned capital improvements at the Piketon facility, unless otherwise consented to by DOE, by the conclusion of the lease term. The estimated cost for these lease termination obligations, included in Accounts Payable and Accrued Liabilities on the condensed consolidated balance sheet, is $1.6 million and $1.8 million as of September 30, 2018 and December 31, 2017, respectively. Centrus has previously provided financial assurance to DOE for the lease turnover obligations in the form of surety bonds that are fully cash collateralized by Centrus for $13.7 million. Centrus expects to receive cash when these surety bonds are reduced and/or cancelled as the Company fulfills its lease turnover obligations.

Financial Assurance for Workers’ Compensation

The Company has provided financial assurance to states in which it was previously self-insured for workers’ compensation in accordance with the state requirements in the form of a surety bond and a letter of credit that are fully cash collateralized by Centrus for $5.9 million. The surety bond and letter of credit will be cancelled, and the Company expects to receive cash when each state determines the Company has no further workers’ compensation obligations.

Inventories

9 Months Ended

Sep. 30, 2018

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 follow (in millions):



	September 30, 2018						December 31, 2017
	Current Assets		Current Liabilities (a)		Inventories, Net		Current Assets		Current Liabilities (a)		Inventories, Net
Separative work units	$	31.2	$	4.7	$	26.5	$	47.2	$	15.0	$	32.2
Uranium	98.2		65.5		32.7		105.9		62.9		43.0
Total	$	129.4	$	70.2	$	59.2	$	153.1	$	77.9	$	75.2


(a)	Inventories owed to customers and suppliers, included in current liabilities, include SWU and uranium inventories owed to fabricators.

Intangible Assets

9 Months Ended

Sep. 30, 2018

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 condensed consolidated statements of operations. Intangible asset balances are as follows (in millions):



	September 30, 2018						December 31, 2017

	Gross Carrying Amount		Accumulated Amortization		Net Amount		Gross Carrying Amount		Accumulated Amortization		Net Amount
Sales order book	$	54.6	$	27.0	$	27.6	$	54.6	$	25.9	$	28.7
Customer relationships	68.9		18.4		50.5		68.9		14.9		54.0
Total	$	123.5	$	45.4	$	78.1	$	123.5	$	40.8	$	82.7

- Definition

The entire disclosure for the aggregate amount of goodwill and a description of intangible assets, which may include (a) for amortizable intangible assets (also referred to as finite-lived intangible assets), the carrying amount, the amount of any significant residual value, and the weighted-average amortization period, (b) for intangible assets not subject to amortization (also referred to as indefinite-lived intangible assets), the carrying amount, and (c) the amount of research and development assets acquired and written off in the period, including the line item in the income statement in which the amounts written off are aggregated, if not readily apparent from the income statement. Also discloses (a) for amortizable intangibles assets in total and by major class, the gross carrying amount and accumulated amortization, the total amortization expense for the period, and the estimated aggregate amortization expense for each of the five succeeding fiscal years, (b) for intangible assets not subject to amortization the carrying amount in total and by major class, and (c) for goodwill, in total and for each reportable segment, the changes in the carrying amount of goodwill during the period (including the aggregate amount of goodwill acquired, the aggregate amount of impairment losses recognized, and the amount of goodwill included in the gain (loss) on disposal of a reporting unit). If any part of goodwill has not been allocated to a reportable segment, discloses the unallocated amount and the reasons for not allocating. For each impairment loss recognized related to an intangible asset (excluding goodwill), discloses: (a) a description of the impaired intangible asset and the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method for determining fair value, (c) the caption in the income statement or the statement of activities in which the impairment loss is aggregated, and (d) the segment in which the impaired intangible asset is reported. For each goodwill impairment loss recognized, discloses: (a) a description of the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method of determining the fair value of the associated reporting unit, and (c) if a recognized impairment loss is an estimate not finalized and the reasons why the estimate is not final. May also disclose the nature and amount of any significant adjustments made to a previous estimate of an impairment loss.

+ References + Details

Debt

9 Months Ended

Sep. 30, 2018

Debt Disclosure [Abstract]

Debt

DEBT

A summary of debt follows (in millions):



		September 30, 2018				December 31, 2017
	Maturity	Current		Long-Term		Current		Long-Term
8.25% Notes:	Feb. 2027
Principal		$	—	$	74.3	$	—	$	74.3
Interest		6.1		45.9		6.1		52.0
8.25% Notes		$	6.1	$	120.2	$	6.1	$	126.3

8% PIK Toggle Notes	Sep. 2019^(a)	$	33.0	$	—	$	—	$	31.3
Less deferred issuance costs		—		—		—		0.1
8% PIK Toggle Notes		$	33.0	$	—	$	—	$	31.2

Total		$	39.1	$	120.2	$	6.1	$	157.5

(a) Maturity can be extended to September 2024 upon the satisfaction of certain funding conditions described in the applicable indenture.

Note Exchange

On February 14, 2017, pursuant to an exchange offer and consent solicitation, Centrus exchanged $204.9 million principal amount of the Company’s 8% paid-in-kind (“PIK”) toggle notes (the “8% PIK Toggle Notes”) for $74.3 million principal amount of 8.25% notes due February 2027 (the “8.25% Notes”), 104,574 shares of Series B Preferred Stock with a liquidation preference of $1,000 per share, and $27.6 million of cash. The exchange is accounted for as a troubled debt restructuring under ASC Subtopic 470-60, Debt-Troubled Debt Restructurings by Debtors. The Company recognized the 8.25% Notes on the condensed consolidated balance sheet as the sum of the principal balance and all future interest payments and recognized a gain of $33.6 million related to the note exchange for the quarter ended March 31, 2017, which is net of transaction costs of $9.0 million and previously deferred issuance costs related to the 8% PIK Toggle Notes of $0.4 million. Refer to Note 12, Stockholders’ Equity for details related to the preferred stock.

8.25% Notes

Interest on the 8.25% Notes 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. The 8.25% Notes mature on February 28, 2027. As described 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, the Company’s reported interest expense will be less than its contractual interest payments throughout the term of the 8.25% Notes. As of September 30, 2018, and December 31, 2017, $6.1 million of interest is recorded as current and classified as Accounts Payable and Accrued Liabilities in the condensed consolidated balance sheet.

8% PIK Toggle Notes

Interest on the 8% PIK Toggle Notes is payable semi-annually in arrears on March 31 and September 30 based on a 360-day year consisting of twelve 30-day months. The principal amount is increased by any payment of interest in the form of PIK payments. The Company has the option to pay up to 5.5% per annum of interest due on the 8% PIK Toggle Notes in the form of PIK payments. For the semi-annual interest periods ended March 31, 2018 and September 30, 2018, the Company elected to pay interest in the form of PIK payments at 5.5% per annum. Financing costs for the issuance of the 8% PIK Toggle Notes were deferred and are being amortized on a straight-line basis, which approximates the effective interest method, over the life of the 8% PIK Toggle Notes. The 8% PIK Toggle Notes mature on September 20, 2019. However, the maturity date may be extended to September 30, 2024, upon the satisfaction of certain funding conditions described in the applicable indenture.

Additional terms and conditions of the 8.25% Notes and the 8% PIK Toggle Notes are described in Note 9, Debt, of the audited consolidated financial statements in the Company’s Annual Report on Form 10-K for the year ended December 31, 2017.

Fair Value Measurements

9 Months Ended

Sep. 30, 2018

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, 2018								December 31, 2017
	Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3		Total
Assets:
Cash and cash equivalents	$	124.9	$	—	$	—	$	124.9	$	208.8	$	—	$	—	$	208.8
Deferred compensation asset (a)	1.6		—		—		1.6		1.4		—		—		1.4

Liabilities:
Deferred compensation obligation (a)	$	1.6	$	—	$	—	$	1.6	$	1.4	$	—	$	—	$	1.4


(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, 2018, and December 31, 2017, 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, 2018					December 31, 2017
	Carrying Value			Estimated Fair Value ^(a)		Carrying Value			Estimated Fair Value ^(a)
8.25% Notes	$	126.3	^(b)	$	60.5	$	132.4	^(b)	$	61.7
8% PIK Toggle Notes	33.0			28.4		31.3			25.1

^(a) Based on the most recent trading price as of the balance sheet date, which is considered a Level 2 input 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 7, Debt.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

Pension and Postretirement Health and Life Benefits

9 Months Ended

Sep. 30, 2018

Retirement Benefits, Description [Abstract]

Pension and Postretirement Health and Life Benefits

PENSION AND POSTRETIREMENT HEALTH AND LIFE BENEFITS

The components of net periodic benefit expense (income) for the defined benefit pension plans are as follows (in millions):



	Three Months Ended September 30,						Nine Months Ended September 30,
	2018			2017			2018			2017
Service costs	$	0.9		$	0.9		$	2.5		$	2.8
Interest costs	7.1			8.0			21.5			24.1
Expected gains on plan assets	(10.3		)	(10.1		)	(30.7		)	(30.5		)
Net periodic benefit income	$	(2.3	)	$	(1.2	)	$	(6.7	)	$	(3.6	)

The components of net periodic benefit expense for the postretirement health and life benefit plans are as follows (in millions):



	Three Months Ended September 30,				Nine Months Ended September 30,
	2018		2017		2018			2017
Interest costs	$	1.5	$	1.8	$	4.4		$	5.4
Amortization of prior service credits	—		—		(0.1		)	(0.1		)
Net periodic benefit expense	$	1.5	$	1.8	$	4.3		$	5.3

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 expense (income) are reported as Nonoperating Components of Net Periodic Benefit Expense (Income).

Net Income Per Share

9 Months Ended

Sep. 30, 2018

Earnings Per Share [Abstract]

Net Income (Loss) Per Share

NET LOSS PER COMMON SHARE

Basic net income (loss) per common share is calculated by dividing income (loss) allocable to common stockholders by the weighted average number of shares of common stock outstanding during the period. In calculating diluted net income (loss) per common 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. The weighted average number of common and common equivalent shares used in the calculation of basic and diluted income (loss) per common share are as follows:



	Three Months Ended September 30,						Nine Months Ended September 30,
	2018			2017			2018			2017
Numerator (in millions):
Net loss	$	(7.8	)	$	(8.5	)	$	(58.9	)	$	(23.3	)
Preferred stock dividends - undeclared and cumulative	1.9			2.0			5.9			5.0
Net loss allocable to common stockholders	$	(9.7	)	$	(10.5	)	$	(64.8	)	$	(28.3	)

Denominator (in thousands):
Average common shares outstanding - basic	9,133			9,103			9,118			9,081
Potentially dilutive shares related to stock options and restricted stock units^(a)	—			—			—			—
Average common shares outstanding - diluted	9,133			9,103			9,118			9,081

Net loss per common share (in dollars) - basic and diluted:	$	(1.06	)	$	(1.15	)	$	(7.11	)	$	(3.12	)

(a) Common stock equivalents excluded from the diluted calculation as a result of a net loss in the period (in thousands)	3			13			10			60

Options outstanding and considered anti-dilutive as their exercise price exceeded the average share market price (in thousands)	360			327			360			30

Stockholders' Equity

9 Months Ended

Sep. 30, 2018

Stockholders' Equity Attributable to Parent [Abstract]

Stockholders' Equity Note Disclosure [Text Block]

STOCKHOLDERS’ EQUITY

Series B Preferred Stock

On February 14, 2017, Centrus issued 104,574 shares of Series B Preferred Stock as part of the securities exchange described in Note 7, Debt. The issuance of the Series B Preferred Stock was a non-cash financing transaction. The Series B Preferred Stock has a par value of $1.00 per share and a liquidation preference of $1,000 per share (the “Liquidation Preference”). The Series B Preferred Stock is recorded on the condensed consolidated balance sheet at fair value less transaction costs, or $4.6 million, as of September 30, 2018, and December 31, 2017.

Holders of the Series B Preferred Stock are entitled to cumulative dividends of 7.5% per annum of the Liquidation Preference. Centrus is obligated to pay cash dividends on the Series B Preferred Stock in an amount equal to the Liquidation Preference to the extent that dividends are declared by the Board and:


(a)	its pension plans and United States Enrichment Corporation’s pension plans are at least 90% funded on a variable rate premium calculation in the current plan year;


(b)	its net income calculated in accordance with GAAP (excluding the effect of pension remeasurement) for the immediately preceding fiscal quarter exceeds $7.5 million;


(c)	its free cash flow (defined as the sum of cash provided by (used in) operating activities and cash provided by (used in) investing activities) for the immediately preceding four fiscal quarters exceeds $35 million;


(d)	the balance of cash and cash equivalents calculated in accordance with GAAP on the last day of the immediately preceding quarter would exceed $150 million after pro forma application of the dividend payment; and


(e)	dividends may be legally paid under Delaware law.

Centrus has not met these criteria for the periods from issuance through September 30, 2018, and has not declared, accrued or paid dividends on the Series B Preferred Stock as of September 30, 2018. Dividends on the Series B Preferred Stock are cumulative to the extent not paid at any quarter-end, whether or not declared and whether or not there are assets of the Company legally available for the payment of such dividends in whole or in part. As of September 30, 2018, the Series B Preferred Stock has an aggregate liquidation preference of $117.4 million including accumulated dividends of $12.8 million. As of December 31, 2017, the Series B Preferred Stock had an aggregate liquidation preference of $111.5 million, including accumulated dividends of $6.9 million.

Outstanding shares of the Series B Senior Preferred Stock are redeemable at the Company’s option, in whole or in part, for an amount of cash equal to the Liquidation Preference, plus an amount equal to the accrued and unpaid dividends, if any, whether or not declared, through date of redemption.

Rights Agreement

On April 6, 2016 (the “Effective Date”), the Company’s Board of Directors (the “Board”) adopted a Section 382 Rights Agreement (the “Rights Agreement”). The Board adopted the Rights Agreement in an effort to protect shareholder value by, among other things, attempting to protect against a possible limitation on the Company’s ability to use its net operating loss carryforwards and other tax benefits, which may be used to reduce potential future income tax obligations. As reported on the Company’s Annual Report on Form 10-K for the year ended December 31, 2017, the Company had federal net operating losses of $789.7 million as of December 31, 2017, that currently expire through 2037.

In connection with the adoption of the Rights Agreement, the Board declared a dividend of one preferred-share-purchase-right for each share of the Company’s Class A Common Stock and Class B Common Stock outstanding as of the Effective Date. The rights initially trade together with the common stock and are not exercisable. In the absence of further action by the Board, the rights would generally become exercisable and allow a holder to acquire shares of a new series of the Company’s preferred stock if any person or group acquires 4.99% or more of the outstanding shares of the Company’s common stock, or if a person or group that already owns 4.99% or more of the Company’s Class A Common Stock acquires additional shares representing 0.5% or more of the outstanding shares of the Company’s Class A Common Stock. The rights beneficially owned by the acquirer would become null and void, resulting in significant dilution in the ownership interest of such acquirer.

The Board may exempt any acquisition of the Company’s common stock from the provisions of the Rights Agreement if it determines that doing so would not jeopardize or endanger the Company’s use of its tax assets or is otherwise in the best interests of the Company. The Board also has the ability to amend or terminate the Rights Agreement prior to a triggering event.

Effective on February 14, 2017, in connection with the settlement and completion of the exchange offer and consent solicitation, the Company amended the Rights Agreement solely to exclude acquisitions of the Series B Preferred Stock issued as part of the exchange offer and consent solicitation from the definition of “Common Shares.”

The Company’s stockholders approved the Rights Agreement at the 2017 annual meeting of stockholders on May 31, 2017. Unless earlier terminated in accordance with the Rights Agreement, the rights issued under the Rights Agreement expire on April 6, 2019.

Shares Outstanding

Changes in the number of shares outstanding are as follows:



	Preferred Stock, Series B	Common Stock, Class A	Common Stock, Class B

Balance at December 31, 2016	—	7,563,600	1,436,400
Issuance of Preferred Stock	104,574	—	—
Issuance of Class A Common Stock	—	38,751	—
Conversion of Common Stock from Class B to Class A	—	28,018	(28,018	)
Balance at September 30, 2017	104,574	7,630,369	1,408,382

Balance at December 31, 2017 and September 30, 2018	104,574	7,632,669	1,406,082

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 prior service credits is reclassified from AOCI and included in the computation of net periodic benefit expense as detailed in Note 9, Pension and Postretirement Health and Life Benefits.

Commitments and Contingencies	9 Months Ended
Commitments and Contingencies	Sep. 30, 2018
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 entity Joint Stock Company “TENEX” (“TENEX”). Under a 2011 agreement with TENEX, as amended, (the “Russian Supply Agreement”), 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 Company may reschedule SWU quantities scheduled for purchase through 2022 into the period 2023–2026, in return for the purchase of additional SWU in those years. Depending on the total purchase obligations rescheduled to 2023–2026, the Company may defer certain limited quantities beyond 2026. The Russian Supply Agreement 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. The Company would then have the right to take the unordered SWU in the following year. Pricing terms for SWU under the Russian Supply Agreement are based on a mix of market-related price points and other factors. This formula is subject to an adjustment that the Company anticipates will reduce the unit costs of SWU under this contract beginning in 2019. Orano On April 27, 2018, the Company entered into a long-term agreement (the “Orano Supply Agreement”) with Orano Cycle (formerly, AREVA NC) (“Orano”) for the long-term supply to the Company of SWU contained in LEU, nominally commencing in 2023. Under the Agreement, the Company purchases SWU contained in LEU received from Orano, and the Company delivers natural uranium to Orano for the natural uranium feed material component of LEU. The Company may elect to begin to accept deliveries as early as 2021 or to defer the commencement of purchases until 2024 and has the option to extend the six-year purchase period for an additional two (2) 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. Prices are payable in a combination of U.S. dollars and euros. U.S. imports of LEU from France are currently subject to an antidumping order that will remain in effect through at least the second quarter of 2019. Under the terms of the Orano Supply Agreement, Orano will have the right to partially limit the amount of LEU that can be delivered in the United States for so long as the LEU is subject to the antidumping order. Milestones Under the 2002 DOE-USEC Agreement The Company 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. DOE consented to the assumption by Centrus of the 2002 DOE-USEC Agreement and other agreements between the Company and DOE subject to an express reservation of all rights, remedies and defenses by DOE and Centrus under those agreements as part of the Company’s Chapter 11 bankruptcy process. The 2002 DOE-USEC Agreement requires Centrus to 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. DOE has specific remedies under the 2002 DOE-USEC Agreement if Centrus fails to meet a milestone that would adversely impact its ability to begin commercial operations of the American Centrifuge Plant on schedule, and such delay was within Centrus’ control or was due to its fault or negligence or if Centrus abandons or constructively abandons the commercial deployment of an advanced enrichment technology. These remedies include terminating the 2002 DOE-USEC Agreement, revoking Centrus’ access to DOE’s centrifuge technology that is required for the success of the American Centrifuge project, 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 project. 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 an American Centrifuge Plant milestone, DOE and Centrus will jointly meet to discuss in good faith possible adjustments to the milestones as appropriate to accommodate the delaying event. The Company notified DOE that it had not met the June 2014 milestone within the time period 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 affect 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 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 Refer to Note 14, Subsequent Event, for information on legal proceedings in which the Company is involved. See also Legal Proceedings under Part I, Item 3 of the Company’s Annual Report on Form 10-K for the year ended December 31, 2017. 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

9 Months Ended

Sep. 30, 2018

Segment Reporting Information, Revenue for Reportable Segment [Abstract]

Segment Information

SEGMENT INFORMATION

Gross profit is Centrus’ measure for segment reporting. There were no intersegment sales in the periods presented. Refer to Note 2, Revenue Recognition 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 September 30,					Nine Months Ended September 30,
	2018			2017		2018			2017
Revenue
LEU Segment:
Separative work units	$	17.6		$	43.5	$	68.2		$	82.2
Uranium	11.3			—		14.9			—
Total	28.9			43.5		83.1			82.2
Contract Services Segment	5.2			6.8		26.1			19.3
Total revenue	$	34.1		$	50.3	$	109.2		$	101.5

Segment Gross Profit (Loss)
LEU Segment	$	8.0		$	10.8	$	(15.5	)	$	4.3
Contract Services Segment	(0.2		)	0.5		7.3			(0.6		)
Gross profit (loss)	$	7.8		$	11.3	$	(8.2	)	$	3.7

Subsequent Event	9 Months Ended
Subsequent Event	Sep. 30, 2018
Subsequent Events [Abstract]
Subsequent Event	SUBSEQUENT EVENT On October 11, 2018, the Company’s subsidiaries, United States Enrichment Corporation (“Enrichment”) and American Centrifuge Enrichment, LLC (“ACE”, together with Enrichment, the “Company Subsidiaries”) filed proofs of claim in the U.S. Bankruptcy Court for the Northern District of Ohio (the “Bankruptcy Court”) against each of FirstEnergy Nuclear Operating Company (“FENOC”), FirstEnergy Nuclear Generation, LLC (“FENG,” and together with FENOC, the “FirstEnergy Contract Parties”), FirstEnergy Solutions Corp. (“FES”) and FirstEnergy Generation, LLC (“FG”) in the amount of approximately $314 million. The claims relate to damages arising from the rejection and breach of a long-term contract between the Company Subsidiaries and the FirstEnergy Contract Parties that was approved by the Bankruptcy Court and made effective as of July 26, 2018. The proofs of claim filed by the Company Subsidiaries include claims against FENOC and FENG based on their liability as parties to the contract that was rejected and breached. The proofs of claim filed by the Company Subsidiaries also include claims against FES and FG based on their liability under guaranties they issued that may obligate FES and FG to satisfy the rejection and breach of contract damages claims. No amounts have been recorded in the Company’s condensed consolidated financial statements related to the claims.

Revenue Recognition and Contracts with Customers Revenue Recognition and Contracts with Customers (Policies)	9 Months Ended
	Sep. 30, 2018
Revenue from Contract with Customer [Abstract]
Revenue Recognition, Policy	Revenue Recognition Revenue for product and service sales is recognized when or as the Company transfers control of the promised products or services to the customer. Revenue is measured at the transaction price which is based on the amount of consideration that the Company expects to receive in exchange for transferring the promised goods or services to the customer. The transaction price will include estimates of variable consideration to the extent it is probable that a significant reversal of revenue recognized will not occur. Revenue for the Company’s LEU Segment is derived from sales of the separative work units (“SWU”) component of low-enriched uranium (“LEU”), from sales of both the SWU and uranium components of LEU, and from sales of uranium. Contracts with customers are primarily long-term, fixed-commitment contracts under which its customers are obligated to purchase a specified quantity of the SWU component of LEU or the SWU and uranium components of LEU. The Company’s contracts for natural uranium are generally shorter-term, fixed- commitment contracts. Revenue is recognized at the time the customer obtains control of the LEU or uranium. Customers generally obtain control of LEU at fuel fabricators. Centrus ships LEU to nuclear fuel fabricators for scheduled or anticipated orders from utility customers. Based on customer orders, Centrus arranges for the transfer of title of LEU from Centrus to the customer for the specified quantity of LEU at the fuel fabricator. Revenue is recognized when control of LEU is transferred to the customer at the fuel fabricator. Each such delivery to a customer is accounted for as a distinct performance obligation under a contract, and a contract may call for multiple deliveries over a number of periods. The contract’s transaction price is allocated to each performance obligation based on the observable standalone selling price of each distinct delivery of SWU or uranium. Utility customers in general have the option to defer physical receipt of LEU or uranium purchased from the Company beyond the contractual sale period. In such cases, title to LEU or uranium is transferred to the customer and a performance obligation for Centrus is created and a receivable is recorded. Cash is collected for the receivable under normal credit terms. The performance obligation is represented as Deferred Revenue on the balance sheet and the customer-titled product is classified as Deferred Costs Associated with Deferred Revenue. Risk of loss remains with Centrus until physical delivery occurs. The recognition of revenue and related cost of sales occurs at the time physical delivery occurs and control and risk of loss of the product transfer to the customer, which may occur beyond one year. The timing of physical delivery, subject to notice period requirements, is at the option of the customer. As such, deferred costs and deferred revenue are classified within current assets and current liabilities, respectively. On occasion, the Company will accept payment in the form of uranium. Revenue from the sale of SWU under such contracts is recognized at the time LEU is delivered and is based on the fair value of the uranium at contract inception or as the quantity of uranium is finalized, if variable. In the second quarter of 2018, the Company received uranium valued at $14.5 million from a customer that elected to defer a SWU purchase obligation for a period greater than one year. Under the contract, the customer has not received title to SWU or LEU product from the Company. The Company’s contract liability to the customer is classified as Advances from Customers, a noncurrent liability. Amounts billed to customers for handling costs are included in sales. Handling costs are accounted for as a fulfillment cost and are included in cost of sales. The Company does not have shipping costs associated with outbound freight after control over a product has transferred to a customer. The Company’s contracts with customers do not provide for significant payment terms or financing components. Revenue for the Contract Services Segment, principally representing engineering and testing activities performed by the Company as well as technical and resource support, is recognized over the contractual period as services are rendered. The contract services segment also includes limited services provided by Centrus to the U.S. Department of Energy (“DOE”) and its contractors at the Portsmouth site related to facilities the Company leases from DOE. In the nine months ended September 30, 2018, revenue for the contract services segment included $9.5 million under a January 2018 settlement agreement with DOE and the U.S. government. Refer below to Contract Balances for additional details. The Company recognizes revenue over time as it performs on these contracts because of the continuous transfer of control to the customer. With control transferring over time, revenue is recognized based on the extent of progress towards completion of the performance obligation. A contract may contain one or more performance obligations. Two or more promises to transfer goods or services to a customer may be considered a single performance obligation if the goods or services are highly interdependent or highly interrelated such that utility of the promised goods or services to the customer includes integration services provided by the Company. The Company principally uses the cost-to-cost input method of progress for its contracts because it best depicts the transfer of control to the customer that occurs as the Company incurs costs. Under the cost-to-cost method, the extent of progress towards completion is measured based on the proportion of direct costs incurred to date to the total estimated direct costs at completion of the performance obligation. Revenues are recorded proportionally as costs are incurred. If transaction prices are not stated in the contract for each performance obligation, contractual prices are allocated to performance obligations based on estimated relative standalone selling prices of the promised services. For contracts that are not accounted for under the percentage of completion method, the Company records revenue as services are provided. The Company recognizes time-and-material contract revenue at negotiated, fixed, contractually billable rates as it delivers labor hours and incurs other direct expenses. The Company has applied the practical expedient in paragraph ASC 606 and does not provide the value of remaining performance obligations under service contracts having original expected terms of one year or less. The timing of revenue recognition may differ from the timing of invoicing to customers. Progress on satisfying performance obligations under contracts with customers and the related billings and cash collections are recorded on the consolidated balance sheet as contract assets or contract liabilities. Contract balances are classified as assets or liabilities on a contract-by-contract basis at the end of each reporting period. Unbilled receivables (contract assets) are included in Accounts Receivable and arise when the timing of cash collected from customers differs from the timing of revenue recognition, such as when contract provisions require specific milestones to be met before a customer can be billed. Those assets are recognized when the revenue associated with the contract is recognized prior to billing and derecognized when billed in accordance with the terms of the contract. To the extent billings to the customer precede the recognition of contract services revenue, the Company recognizes a liability included in Deferred Revenue and Advances from Customers on the consolidated balance sheet.

Revenue Recognition and Contracts with Customers (Tables)

9 Months Ended

Sep. 30, 2018

Revenue from Contract with Customer [Abstract]

Revenue from External Customers by Geographic Areas

The following table presents revenue from 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,
	2018		2017		2018		2017
United States	$	0.3	$	26.2	$	54.3	$	37.1
Europe	28.6		17.3		28.7		17.4
Asia	—		—		0.1		27.7
Revenue - SWU and uranium	$	28.9	$	43.5	$	83.1	$	82.2

Contract with Customer, Asset and Liability

The following table represents changes in our contract assets and contract liabilities balances (in millions):



	September 30, 2018		January 1, 2018		Year-To-Date Change
Contract assets
Accounts receivable:
Billed	$	2.5	$	60.2	$	(57.7	)
Unbilled contract revenue	—		0.1		(0.1		)
Accounts receivable	$	2.5	$	60.3	$	(57.8	)

Deferred costs associated with deferred revenue	$	122.7	$	122.3	$	0.4

Contract liabilities
Deferred revenue and advances from customers - current:
Deferred revenue	$	175.6	$	172.5	$	3.1
Advances from customers	—		19.3		(19.3		)
Deferred revenue and advances from customers - current	$	175.6	$	191.8	$	(16.2	)

Advances from customers - noncurrent	$	14.5	$	—	$	14.5

Deferred cost and deferred revenue activity in the nine months ended September 30, 2018, follows (in millions):



	Deferred Sales in the Period		Previously Deferred Sales Recognized in the Period			Year-To-Date Change
Deferred costs associated with deferred revenue	$	10.6	$	(10.2	)	$	0.4
Deferred revenue	23.3		(20.2		)	3.1

Special Charges Special Charges (Tables)

9 Months Ended

Sep. 30, 2018

Restructuring and Related Activities [Abstract]

Restructuring and Related Costs

A summary of termination benefit activity and related liabilities follows (in millions):



	Liability December 31, 2017		Nine Months Ended September 30, 2018					Liability September 30, 2018
	Liability December 31, 2017		Charges for Termination Benefits		Paid/Settled			Liability September 30, 2018
Workforce reductions:
Evolving business needs	$	0.8	$	1.3	$	(1.5	)	$	0.6
Piketon demonstration facility	5.7		0.1		(2.6		)	3.2
Total	$	6.5	$	1.4	$	(4.1	)	$	3.8

Cash, Cash Equivalents and Restricted Cash (Tables)

9 Months Ended

Sep. 30, 2018

Cash, Cash Equivalents and Restricted Cash [Abstract]

Schedule of Cash and Cash Equivalents



	September 30, 2018		December 31, 2017

Cash and cash equivalents	$	124.9	$	208.8
Deposits for financial assurance - current	30.2		16.3
Deposits for financial assurance - noncurrent	6.2		19.7
Total cash, cash equivalents and restricted cash	$	161.3	$	244.8

Restrictions on Cash and Cash Equivalents

The following table provides additional detail regarding the Company’s deposits for financial assurance (in millions):



	September 30, 2018				December 31, 2017
	Current		Long-Term		Current		Long-Term
NRC license	$	16.3	$	—	$	16.1	$	—
DOE lease	13.7		—		—		13.5
Workers compensation	—		5.9		—		5.9
Other	0.2		0.3		0.2		0.3
Total deposits for financial assurance	$	30.2	$	6.2	$	16.3	$	19.7

Inventories (Tables)

9 Months Ended

Sep. 30, 2018

Inventory, Net [Abstract]

Schedule of Inventories

Components of inventories follow (in millions):



	September 30, 2018						December 31, 2017
	Current Assets		Current Liabilities (a)		Inventories, Net		Current Assets		Current Liabilities (a)		Inventories, Net
Separative work units	$	31.2	$	4.7	$	26.5	$	47.2	$	15.0	$	32.2
Uranium	98.2		65.5		32.7		105.9		62.9		43.0
Total	$	129.4	$	70.2	$	59.2	$	153.1	$	77.9	$	75.2


(a)	Inventories owed to customers and suppliers, included in current liabilities, include SWU and uranium inventories owed to fabricators.

Debt Schedule of Debt (Tables)

9 Months Ended

Sep. 30, 2018

Debt Disclosure [Abstract]

Schedule of Debt

A summary of debt follows (in millions):



		September 30, 2018				December 31, 2017
	Maturity	Current		Long-Term		Current		Long-Term
8.25% Notes:	Feb. 2027
Principal		$	—	$	74.3	$	—	$	74.3
Interest		6.1		45.9		6.1		52.0
8.25% Notes		$	6.1	$	120.2	$	6.1	$	126.3

8% PIK Toggle Notes	Sep. 2019^(a)	$	33.0	$	—	$	—	$	31.3
Less deferred issuance costs		—		—		—		0.1
8% PIK Toggle Notes		$	33.0	$	—	$	—	$	31.2

Total		$	39.1	$	120.2	$	6.1	$	157.5

Fair Value Measurements (Tables)

9 Months Ended

Sep. 30, 2018

Fair Value Disclosures [Abstract]

Schedule of Financial Instruments Recorded at Fair Value

Financial Instruments Recorded at Fair Value (in millions):



	September 30, 2018								December 31, 2017
	Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3		Total
Assets:
Cash and cash equivalents	$	124.9	$	—	$	—	$	124.9	$	208.8	$	—	$	—	$	208.8
Deferred compensation asset (a)	1.6		—		—		1.6		1.4		—		—		1.4

Liabilities:
Deferred compensation obligation (a)	$	1.6	$	—	$	—	$	1.6	$	1.4	$	—	$	—	$	1.4


(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.

Pension and Postretirement Health and Life Benefits (Tables)

9 Months Ended

Sep. 30, 2018

Pension Plan, Defined Benefit [Member]

Defined Benefit Plan Disclosure [Line Items]

Schedule of Net Benefit Costs

The components of net periodic benefit expense (income) for the defined benefit pension plans are as follows (in millions):



	Three Months Ended September 30,						Nine Months Ended September 30,
	2018			2017			2018			2017
Service costs	$	0.9		$	0.9		$	2.5		$	2.8
Interest costs	7.1			8.0			21.5			24.1
Expected gains on plan assets	(10.3		)	(10.1		)	(30.7		)	(30.5		)
Net periodic benefit income	$	(2.3	)	$	(1.2	)	$	(6.7	)	$	(3.6	)

Other Postretirement Benefits Plan [Member]

Defined Benefit Plan Disclosure [Line Items]

Schedule of Net Benefit Costs

The components of net periodic benefit expense for the postretirement health and life benefit plans are as follows (in millions):



	Three Months Ended September 30,				Nine Months Ended September 30,
	2018		2017		2018			2017
Interest costs	$	1.5	$	1.8	$	4.4		$	5.4
Amortization of prior service credits	—		—		(0.1		)	(0.1		)
Net periodic benefit expense	$	1.5	$	1.8	$	4.3		$	5.3

Net Income Per Share (Tables)

9 Months Ended

Sep. 30, 2018

Earnings Per Share [Abstract]

Schedule of Net Income Per Share



	Three Months Ended September 30,						Nine Months Ended September 30,
	2018			2017			2018			2017
Numerator (in millions):
Net loss	$	(7.8	)	$	(8.5	)	$	(58.9	)	$	(23.3	)
Preferred stock dividends - undeclared and cumulative	1.9			2.0			5.9			5.0
Net loss allocable to common stockholders	$	(9.7	)	$	(10.5	)	$	(64.8	)	$	(28.3	)

Denominator (in thousands):
Average common shares outstanding - basic	9,133			9,103			9,118			9,081
Potentially dilutive shares related to stock options and restricted stock units^(a)	—			—			—			—
Average common shares outstanding - diluted	9,133			9,103			9,118			9,081

Net loss per common share (in dollars) - basic and diluted:	$	(1.06	)	$	(1.15	)	$	(7.11	)	$	(3.12	)

(a) Common stock equivalents excluded from the diluted calculation as a result of a net loss in the period (in thousands)	3			13			10			60

Options outstanding and considered anti-dilutive as their exercise price exceeded the average share market price (in thousands)	360			327			360			30

Stockholders' Equity (Tables)

9 Months Ended

Sep. 30, 2018

Stockholders' Equity Attributable to Parent [Abstract]

Schedule of Stock by Class [Table Text Block]

Changes in the number of shares outstanding are as follows:



	Preferred Stock, Series B	Common Stock, Class A	Common Stock, Class B

Balance at December 31, 2016	—	7,563,600	1,436,400
Issuance of Preferred Stock	104,574	—	—
Issuance of Class A Common Stock	—	38,751	—
Conversion of Common Stock from Class B to Class A	—	28,018	(28,018	)
Balance at September 30, 2017	104,574	7,630,369	1,408,382

Balance at December 31, 2017 and September 30, 2018	104,574	7,632,669	1,406,082

- Definition

Tabular disclosure of an entity's stock, including par or stated value per share, number and dollar amount of share subscriptions, shares authorized, shares issued, shares outstanding, number and dollar amount of shares held in an employee trust, dividend per share, total dividends, share conversion features, par value plus additional paid in capital, the value of treasury stock and other information necessary to a fair presentation, and EPS information. Stock by class includes common, convertible, and preferred stocks which are not redeemable or redeemable solely at the option of the issuer. Includes preferred stock with redemption features that are solely within the control of the issuer and mandatorily redeemable stock if redemption is required to occur only upon liquidation or termination of the reporting entity. If more than one issue is outstanding, state the title of each issue and the corresponding dollar amount; dollar amount of any shares subscribed but unissued and the deduction of subscriptions receivable there from; number of shares authorized, issued, and outstanding.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
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-URI http://asc.fasb.org/extlink&oid=84159872&loc=d3e21506-112644

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 480
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-Section S99
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Reference 3: http://www.xbrl.org/2003/role/presentationRef
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-Subparagraph (SX 210.4-08(d))
-URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690

Reference 4: http://www.xbrl.org/2003/role/presentationRef
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-Subparagraph (SX 210.5-02(29))
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Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
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-Section S99
-Paragraph 1
-Subparagraph (SX 210.3-04)
-URI http://asc.fasb.org/extlink&oid=27012166&loc=d3e187085-122770

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
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-URI http://asc.fasb.org/extlink&oid=84159872&loc=d3e21553-112644

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
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Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
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-Subparagraph (SX 210.5-02(28))
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Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 45
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=65888546&loc=d3e21300-112643

Reference 10: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(27))
-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

Reference 11: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
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Reference 12: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
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-Publisher FASB
-Name Accounting Standards Codification
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-Section 50
-Paragraph 8
-URI http://asc.fasb.org/extlink&oid=84159872&loc=d3e21538-112644

Reference 14: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 5
-URI http://asc.fasb.org/extlink&oid=84159872&loc=d3e21488-112644

+ Details

Segment Information (Tables)

9 Months Ended

Sep. 30, 2018

Segment Reporting Information, Revenue for Reportable Segment [Abstract]

Segment Reporting Information



	Three Months Ended September 30,					Nine Months Ended September 30,
	2018			2017		2018			2017
Revenue
LEU Segment:
Separative work units	$	17.6		$	43.5	$	68.2		$	82.2
Uranium	11.3			—		14.9			—
Total	28.9			43.5		83.1			82.2
Contract Services Segment	5.2			6.8		26.1			19.3
Total revenue	$	34.1		$	50.3	$	109.2		$	101.5

Segment Gross Profit (Loss)
LEU Segment	$	8.0		$	10.8	$	(15.5	)	$	4.3
Contract Services Segment	(0.2		)	0.5		7.3			(0.6		)
Gross profit (loss)	$	7.8		$	11.3	$	(8.2	)	$	3.7

Basis of Presentation - Financial Statement Impact (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017	Jan. 01, 2018	Dec. 31, 2017
Prior period reclassification adjustment			$ 0.3
Adoption of ASC 606 as of January 1, 2018			0.1
Unbilled contract revenue	$ 0.0		0.0		$ 0.1
Accumulated deficit	(343.3)		(343.3)		(284.4)	$ (284.5)
Revenue	34.1	$ 50.3	109.2	$ 101.5
Net income (loss)	(7.8)	(8.5)	(58.9)	(23.3)
Cost of sales - separative work units and uranium	20.9	32.7	98.6	77.9
Nonoperating components of periodic benefit expense (income), net	(1.6)	(0.3)	(4.9)	(1.1)
Net cash used in operating activities			(77.7)	(86.6)
Net cash used in financing activities			(6.1)	(40.0)
Operating leases, future minimum payments due						$ 13.0
Difference between Revenue Guidance in Effect before and after Topic 606 [Member]
Unbilled contract revenue					0.1
Accumulated deficit					$ 0.1
Revenue	1.9		(0.1)
Net income (loss)	1.9		(0.1)
Calculated under Revenue Guidance in Effect before Topic 606 [Member]
Revenue	32.2		109.3
Net income (loss)	$ (9.7)		$ (58.8)
Scenario, Previously Reported [Member]
Cost of sales - separative work units and uranium		32.4		76.8
Net cash used in operating activities				(95.6)
Net cash used in financing activities				(31.0)
Restatement Adjustment [Member]
Cost of sales - separative work units and uranium		0.3		1.1
Nonoperating components of periodic benefit expense (income), net		$ 0.3		1.1
Net cash used in operating activities				9.0
Net cash used in financing activities				$ (9.0)

Revenue Recognition and Contracts with Customers (Narrative) (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2018	Jan. 01, 2018	Dec. 31, 2017
Advances from customers, noncurrent	$ 14.5		$ 0.0
Deferred revenue, revenue recognized	20.2
Accounts receivable, net	2.5	$ 60.3	60.2
Government [Member]
Litigation Settlement, Amount Awarded from Other Party	24.0
Accounts receivable, net			14.5
Proceeds from Customers	4.7
Advances from customers			19.3
Gain (Loss) Related to Litigation Settlement	9.5
Low Enriched Uranium Segment [Member]
Revenue, Remaining Performance Obligation	$ 1,100.0		$ 1,300.0

Revenue Recognition and Contracts with Customers (Revenue from External Customers by Geographic Areas) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Sales Revenue, Goods, Net	$ 28.9	$ 43.5	$ 83.1	$ 82.2
United States [Member]
Sales Revenue, Goods, Net	0.3	26.2	54.3	37.1
Europe [Member]
Sales Revenue, Goods, Net	28.6	17.3	28.7	17.4
Asia [Member]
Sales Revenue, Goods, Net	$ 0.0	$ 0.0	$ 0.1	$ 27.7

Revenue Recognition and Contracts with Customers (Contract with Customer Asset and Liability) (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2018	Sep. 30, 2018	Sep. 30, 2017	Jan. 01, 2018	Dec. 31, 2017
Revenue from Contract with Customer [Abstract]
Billed accounts receivable	$ 2.5	$ 2.5		$ 60.2
Billed accounts receivable – increase (decrease)		(57.7)
Unbilled contract revenue	0.0	0.0		0.1
Unbilled receivables – increase (decrease)		(0.1)
Accounts receivable, net	2.5	2.5		60.3	$ 60.2
Accounts receivable – increase (decrease)	(57.6)	(57.8)	$ (14.5)
Deferred costs associated with deferred revenue	122.7	122.7		122.3	122.3
Deferred costs – increase (decrease)		0.4
Deferred revenue	175.6	175.6		172.5
Deferred revenue – increase (decrease)		3.1
Advances from customers	0.0	0.0		19.3
Customer advances – increase (decrease)		(19.3)
Deferred revenue and advances from customers	175.6	175.6		$ 191.8	191.8
Deferred revenue and customer advances – increase (decrease)		(16.2)
Advances from customers, noncurrent	14.5	14.5			$ 0.0
Advances from customers, noncurrent - increase (decrease)		$ 14.5
Deferred costs, additions	10.6
Deferred costs, costs recognized	(10.2)
Deferred revenue, additions	23.3
Deferred revenue, revenue recognized	$ (20.2)

Special Charges (Table) (Details) - USD ($) $ in Millions	9 Months Ended
Special Charges (Table) (Details) - USD ($) $ in Millions	Sep. 30, 2018	Dec. 31, 2017
Termination benefit costs	$ 1.4
Payments for one-time termination benefits	(4.1)
Restructuring liability	3.8	$ 6.5
Contract Termination [Member]
Termination benefit costs	0.1
Payments for one-time termination benefits	(2.6)
Restructuring liability	3.2	5.7
Other Restructuring [Member]
Termination benefit costs	1.3
Payments for one-time termination benefits	(1.5)
Restructuring liability	$ 0.6	$ 0.8

Special Charges Special Charges (Narrative) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Special charges for workforce reductions and advisory costs	$ 0.6	$ 2.4	$ 1.5	$ 7.1
Termination benefit costs			1.4
Other restructuring costs			0.1	$ 5.0
Contract Termination [Member]
Termination benefit costs			0.1
Restructuring liability, current	$ 3.2		$ 3.2

Cash, Cash Equivalents and Restricted Cash (Schedule of Cash, Cash Equivalents and Restricted Cash) (Details) - USD ($) $ in Millions	Sep. 30, 2018	Dec. 31, 2017	Sep. 30, 2017	Dec. 31, 2016
Cash and Cash Equivalents [Line Items]
Cash and cash equivalents	$ 124.9	$ 208.8
Restricted cash included in other current assets	30.2	16.3
Restricted cash included in other long-term assets	6.2	19.7
Total cash, cash equivalents and restricted cash	$ 161.3	$ 244.8	$ 171.9	$ 296.7

Cash, Cash Equivalents and Restricted Cash (Schedule of Restricted Cash) (Details) - USD ($) $ in Millions	Sep. 30, 2018	Dec. 31, 2017
Restricted Cash and Cash Equivalents Items [Line Items]
Restricted cash included in other current assets	$ 30.2	$ 16.3
Restricted cash included in other long-term assets	6.2	19.7
Other financial assurance [Member]
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	0.3	0.3
ARO financial assurance [Member]
Restricted Cash and Cash Equivalents Items [Line Items]
Restricted cash included in other current assets	16.3	16.1
Restricted cash included in other long-term assets	0.0	0.0
Workers compensation financial assurance [Member]
Restricted Cash and Cash Equivalents Items [Line Items]
Restricted cash included in other current assets	0.0	0.0
Restricted cash included in other long-term assets	5.9	5.9
Lease turnover financial assurance [Member]
Restricted Cash and Cash Equivalents Items [Line Items]
Restricted cash included in other current assets	13.7	0.0
Restricted cash included in other long-term assets	$ 0.0	$ 13.5

Cash, Cash Equivalents and Restricted Cash (Narrative) (Details) - USD ($) $ in Millions	Sep. 30, 2018	Dec. 31, 2017
Restricted cash included in other current assets	$ 30.2	$ 16.3
Accrued lease turnover costs	1.6	1.8
Restricted cash included in other long-term assets	6.2	19.7
ARO financial assurance [Member]
Restricted cash included in other current assets	16.3	16.1
Restricted cash included in other long-term assets	0.0	0.0
Lease turnover financial assurance [Member]
Restricted cash included in other current assets	13.7	0.0
Restricted cash included in other long-term assets	$ 0.0	$ 13.5

Inventories (Schedule of Inventories) (Details) - USD ($) $ in Millions	Sep. 30, 2018	Dec. 31, 2017
Inventory, Net [Abstract]
Separative work units inventory	$ 31.2	$ 47.2
Uranium inventory	98.2	105.9
Inventories	129.4	153.1
Separative work units owed to customers and suppliers	4.7	15.0
Uranium owed to customers and suppliers	65.5	62.9
Inventories owed to customers and suppliers	70.2	77.9
Separative work units net of liability	26.5	32.2
Uranium inventory net of liability	32.7	43.0
Inventories, net	$ 59.2	$ 75.2

Intangible Assets Schedule of Intangible Assets and Excess Reorganization Value (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2018	Dec. 31, 2017
Finite-Lived Intangible Assets [Line Items]
Amortizable intangible assets, gross	$ 123.5	$ 123.5
Accumulated intangible asset amortization	(45.4)	(40.8)
Amortizable intangible assets, net	$ 78.1	82.7
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	(27.0)	(25.9)
Amortizable intangible assets, net	27.6	28.7
Customer-Related Intangible Assets [Member]
Finite-Lived Intangible Assets [Line Items]
Amortizable intangible assets, gross	68.9	68.9
Accumulated intangible asset amortization	(18.4)	(14.9)
Amortizable intangible assets, net	$ 50.5	$ 54.0

Debt Schedule of Debt (Details) - USD ($) $ in Millions	Sep. 30, 2018	Dec. 31, 2017
Debt Instrument [Line Items]
Deferred issuance costs		$ 0.1
Long-term debt, current	$ 39.1	6.1
Long-term debt	120.2	157.5
Senior Notes [Member]
Debt Instrument [Line Items]
Long-term debt, face amount	74.3	74.3
Long-term debt, interest	45.9	52.0
Long-term debt, current	6.1	6.1
Long-term debt	120.2	126.3
Payment in Kind (PIK) Note [Member]
Debt Instrument [Line Items]
Long-term debt, carrying amount		31.3
Long-term debt, current	$ 33.0
Long-term debt		$ 31.2

Debt (Narrative) (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017	Dec. 31, 2017
Preferred stock, shares issued	104,574		104,574
Preferred stock, liquidation preference per share	$ 1,000		$ 1,000
Cash paid in exchange		$ 27.6
Gain on early extinguishment of debt	$ 0.0	0.0	$ 0.0	$ 33.6
Transaction costs				9.0
Write off of deferred financing cost				$ 0.4
Long-term debt, current	$ 39.1		$ 39.1		$ 6.1
Payment in Kind (PIK) Note [Member]
Repurchase of debt		$ 204.9
Debt instrument interest rate	8.00%		8.00%
Long-term debt, carrying amount					31.3
Long-term debt, current	$ 33.0		$ 33.0
Senior Notes [Member]
Debt instrument interest rate	8.25%		8.25%
Long-term debt, face amount	$ 74.3		$ 74.3		74.3
Long-term debt, current	$ 6.1		$ 6.1		$ 6.1

Fair Value Measurements (Financial Instruments Recorded at Fair Value) (Details) - USD ($) $ in Millions	Sep. 30, 2018	Dec. 31, 2017
Cash and cash equivalents	$ 124.9	$ 208.8
Deferred compensation asset	1.6	1.4
Deferred compensation obligation	1.6	1.4
Level 1 [Member]
Deferred compensation asset	1.6	1.4
Deferred compensation obligation	$ 1.6	$ 1.4

Fair Value Measurements (Narrative) (Details) - USD ($) $ in Millions	Sep. 30, 2018	Dec. 31, 2017
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long-term debt, current	$ 39.1	$ 6.1
Senior Notes [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt, long-term and short-term, combined carrying value	126.3	132.4
Long-term debt, current	6.1	6.1
Long-term debt, fair value	60.5	61.7
Long-term debt, face amount	74.3	74.3
Payment in Kind (PIK) Note [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long-term debt, current	33.0
Long-term debt, carrying amount		31.3
Long-term debt, fair value	$ 28.4	$ 25.1

Pension and Postretirement Health and Life Benefits (Schedule of Net Benefit Costs) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Pension Plan, Defined Benefit [Member]
Service costs	$ 0.9	$ 0.9	$ 2.5	$ 2.8
Interest costs	7.1	8.0	21.5	24.1
Expected return on plan assets (gains)	(10.3)	(10.1)	(30.7)	(30.5)
Net periodic benefit cost (credit)	(2.3)	(1.2)	(6.7)	(3.6)
Postretirement Health and Life Benefits Plans [Member]
Interest costs	1.5	1.8	4.4	5.4
Amortization of prior service costs (credits), net	0.0	0.0	(0.1)	(0.1)
Net periodic benefit cost (credit)	$ 1.5	$ 1.8	$ 4.3	$ 5.3

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, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Income Per Share Calculation [Line Items]
Net income (loss)	$ (7.8)	$ (8.5)	$ (58.9)	$ (23.3)
Preferred stock dividends, undeclared and cumulative	1.9	2.0	5.9	5.0
Net income (loss) allocable to common stockholders	$ (9.7)	$ (10.5)	$ (64.8)	$ (28.3)
Weighted average number of shares outstanding, basic	9,133	9,103	9,118	9,081
Potentially dilutive shares related to stock options	0	0	0	0
Weighted average number of shares outstanding, diluted	9,133	9,103	9,118	9,081
Net loss per share - basic and diluted	$ (1.06)	$ (1.15)	$ (7.11)	$ (3.12)
Antidilutive securities excluded from computation of earnings per share	3	13	10	60
Options with exercise price greater than market price	360	327	360	30

Stockholders' Equity (Tables) (Details) - shares	9 Months Ended
Stockholders' Equity (Tables) (Details) - shares	Sep. 30, 2017	Sep. 30, 2018	Dec. 31, 2017	Dec. 31, 2016
Class of Stock [Line Items]
Preferred Stock, Shares Issued		104,574
Preferred Stock, Shares Outstanding	104,574	104,574	104,574
Preferred Series B [Member]
Class of Stock [Line Items]
Stock Issued During Period, Shares, New Issues	104,574
Preferred Stock, Shares Issued		104,574	104,574
Common Class A [Member]
Class of Stock [Line Items]
Common Stock, Shares, Outstanding	7,630,369	7,632,669	7,632,669	7,563,600
Conversion of Stock, Shares Converted	28,018
Stock Issued During Period, Shares, New Issues	38,751
Common Stock, Shares, Issued		7,632,669	7,632,669
Common Class B [Member]
Class of Stock [Line Items]
Common Stock, Shares, Outstanding	1,408,382	1,406,082	1,406,082	1,436,400
Conversion of Stock, Shares Converted	(28,018)
Common Stock, Shares, Issued		1,406,082	1,406,082

Stockholders' Equity Stockholders' Equity (Narrative) (Details) - USD ($)	9 Months Ended	12 Months Ended
	Sep. 30, 2018	Dec. 31, 2017
Class of Stock [Line Items]
Preferred Stock, Shares Issued	104,574
Preferred Stock, Par Value Per Share	$ 1.00	$ 1.00
Preferred Stock, Liquidation Preference Per Share	$ 1,000
Operating Loss Carryforwards		$ 789,700,000
Common Stock Ownership Enabling Preferred Stock Purchase Rights	4.99%
Common Stock Ownership Enabling Preferred Stock Purchase Rights, Incremental	0.50%
Preferred Series B [Member]
Class of Stock [Line Items]
Preferred Stock, Shares Issued	104,574	104,574
Preferred Stock, Par Value Per Share	$ 1.00
Preferred Stock, Liquidation Preference Per Share	$ 1,000
Preferred stock	$ 4,600,000	$ 4,600,000
Preferred Stock, Dividend Rate, Percentage	7.50%	7.50%
Preferred stock dividend condition - minimum pension funding	90.00%
Preferred stock dividend condition - minimum net income preceding quarter	$ 7,500,000
Preferred stock dividend condition - minimum free cash flow preceding four quarters	35,000,000
Preferred stock dividend condition - minimum cash balance preceding quarter	150,000,000
Preferred Stock, Liquidation Preference, Value	117,400,000	$ 111,500,000
Preferred Stock, Cumulative Undeclared Dividend	$ 12,800,000	$ 6,900,000

Segment Information (Segment Reporting Information) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Revenues [Abstract]
Revenue, Goods	$ 28.9	$ 43.5	$ 83.1	$ 82.2
Revenue, Contract Services	5.2	6.8	26.1	19.3
Total Revenue	34.1	50.3	109.2	101.5
Gross Profit	7.8	11.3	(8.2)	3.7
Low Enriched Uranium Segment [Member]
Revenues [Abstract]
Revenue, Goods	28.9	43.5	83.1	82.2
Gross Profit	8.0	10.8	(15.5)	4.3
Contract Services Segment [Member]
Revenues [Abstract]
Gross Profit	(0.2)	0.5	7.3	(0.6)
Separative Work Units [Member]
Revenues [Abstract]
Revenue, Goods	17.6	43.5	68.2	82.2
Uranium [Member]
Revenues [Abstract]
Revenue, Goods	$ 11.3	$ 0.0	$ 14.9	$ 0.0

Subsequent Event (Details) $ in Millions	3 Months Ended
Subsequent Event (Details) $ in Millions	Dec. 31, 2018 USD ($)
Scenario, Forecast [Member]
Bankruptcy Claims, Amount of Claims Filed	$ 314