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Property, Plant and Equipment | 12 Months Ended
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Dec. 31, 2011
Property, Plant and Equipment |
Property, Plant and Equipment | 4. PROPERTY, PLANT AND EQUIPMENT A summary of changes in property, plant and equipment follows (in millions):
|  | December 31, 2008 |  |  | Capital Expenditures (Depreciation) |  |  | Transfers and Retirements |  |  | December 31, 2009 |  |  | Capital Expenditures (Depreciation) |  |  | Transfers and Retirements |  |  | December 31, 2010 |  |  | Capital Expenditures (Depreciation) |  |  | Transfers and Retirements |  |  | December 31, 2011 |
Construction work in progress |  | $ | 617.5 |  |  | $ | 405.3 |  |  | $ | (31.4 | ) |  | $ | 991.4 |  |  | $ | 149.4 |  |  | $ | (14.5 | ) |  | $ | 1,126.3 |  |  | $ | 135.9 |  |  | $ | (151.0 | ) |  | $ | 1,111.2 |
Leasehold improvements |  |  | 176.8 |  |  |  | - |  |  |  | 5.8 |  |  |  | 182.6 |  |  |  | - |  |  |  | 4.7 |  |  |  | 187.3 |  |  |  | - |  |  |  | (4.4 | ) |  |  | 182.9 |
Machinery and equipment |  |  | 234.3 |  |  |  | 1.6 |  |  |  | 24.2 |  |  |  | 260.1 |  |  |  | 3.0 |  |  |  | 6.0 |  |  |  | 269.1 |  |  |  | - |  |  |  | (17.9 | ) |  |  | 251.2 |
|  |  | 1,028.6 |  |  |  | 406.9 |  |  |  | (1.4 | ) |  |  | 1,434.1 |  |  |  | 152.4 |  |  |  | (3.8 | ) |  |  | 1,582.7 |  |  |  | 135.9 |  |  |  | (173.3 | ) |  |  | 1,545.3 |
Accumulated depreciation and amortization |  |  | (292.5 | ) |  |  | (27.9 | ) |  |  | 1.4 |  |  |  | (319.0 | ) |  |  | (36.1 | ) |  |  | 3.8 |  |  |  | (351.3 | ) |  |  | (42.7 | ) |  |  | 35.8 |  |  |  | (358.2 | )
|  | $ | 736.1 |  |  | $ | 379.0 |  |  | $ | - |  |  | $ | 1,115.1 |  |  | $ | 116.3 |  |  | $ | - |  |  | $ | 1,231.4 |  |  | $ | 93.2 |  |  | $ | (137.5 | ) |  | $ | 1,187.1 |
Capital expenditures include items in accounts payable and accrued liabilities at December 31, 2011 for which cash is paid in the following period. USEC is working to deploy the American Centrifuge technology at the American Centrifuge Plant in Piketon, Ohio. Capital expenditures related to the ACP, which is primarily included in the construction work in progress balance, totaled $1,119.0 million at December 31, 2011 and $1,143.8 million at December 31, 2010. Amounts capitalized include interest of $33.4 million in 2011, $31.6 million in 2010 and $22.9 million in 2009. Capitalized asset retirement obligations included in construction work in progress totaled $19.3 million at December 31, 2011 and was unchanged from December 31, 2010. Additional information related to asset retirement obligations is provided in Note 15. During the second quarter of 2011, USEC expensed $9.6 million of previously capitalized construction work in progress costs. This expense was charged to advanced technology costs on the consolidated statement of operations and relates to a number of centrifuge machines and the related capitalized interest allocated to the centrifuge machines. The centrifuge machines expensed are no longer considered to have future economic benefit because they were irreparably damaged during lead cascade operations. There is no machine technology, machine design or machine manufacturing issue associated with this expense. During the fourth quarter of 2011, USEC expensed $127.1 million of previously capitalized work in progress costs related to a number of earlier AC100 centrifuge machines. These machines were determined to no longer be compatible with the commercial plant design for the American Centrifuge Plant. As USEC previously disclosed in the second and third quarters of 2011, USEC has been evaluating the ongoing utility of a number of earlier AC100 centrifuge machines that were previously capitalized as part of construction work in progress. Following the completion of this review, which included the evaluation of several potential uses for these earlier machines and the related economics of each scenario, USEC determined that these centrifuge machines have no future economic benefit and should be expensed. The expense was charged to advanced technology costs on the consolidated statement of operations and relates to a number of centrifuge machines, parts, materials and associated capitalized interest. This conclusion did not affect centrifuge machines that are currently being operated in the lead cascade in Piketon, Ohio, which are the current commercial plant design, or any machines that would be built as part of the RD&D program being discussed with DOE. Beginning in the fourth quarter of 2011, USEC has been spending on the ACP at reduced levels that relate primarily to development and maintenance activities rather than capital asset creation. Additional details are provided in Note 16 under "American Centrifuge Plant – Project Funding." Beginning with the start of the fourth quarter of 2011, all project costs incurred have been expensed, including interest expense that previously would have been capitalized. Capitalization of expenditures related to ACP has ceased until commercial plant deployment resumes. USEC believes that future cash flows from the ACP will exceed its capital investment. Since USEC believes its capital investment is fully recoverable, no impairment of the balance of capitalized costs is anticipated at this time. USEC will continue to evaluate this assessment as conditions change, including as a result of activities conducted as part of the research, development and demonstration ("RD&D") program being pursued. On September 30, 2011, USEC completed the transition of Portsmouth site facilities to the D&D contractor. USEC continues to lease facilities used for the ACP and administrative purposes in Piketon, Ohio. However, under our lease agreement with DOE, ownership of capital improvements related to the transitioned Portsmouth site facilities that USEC left behind as well as responsibility for D&D transferred to DOE.

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- Definition The entire disclosure for long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale. Examples include land, buildings, machinery and equipment, and other types of furniture and equipment including, but not limited to, office equipment, furniture and fixtures, and computer equipment and software. This disclosure may include property plant and equipment accounting policies and methodology, a schedule of property, plant and equipment gross, additions, deletions, transfers and other changes, depreciation, depletion and amortization expense, net, accumulated depreciation, depletion and amortization expense and useful lives, income statement disclosures, assets held for sale and public utility disclosures. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6360339&loc=d3e1361-107760 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.13-14) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher AICPA -Name Accounting Principles Board Opinion (APB) -Number 12 -Paragraph 5 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6391035&loc=d3e2868-110229 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6391110&loc=d3e2921-110230 + Details
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