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Subsequent Events | 12 Months Ended
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Dec. 31, 2011
Subsequent Events |
Subsequent Events | 18. SUBSEQUENT EVENTS Oak Ridge Workforce Reduction In January 2012, USEC executed a reduction in force of 20 employees due to reduced funding available for centrifuge design and engineering. A charge of approximately $0.6 million will be incurred in the first quarter of 2012 for one-time termination benefits consisting of severance payments and short-term health care coverage. Related cash expenditures are expected primarily in the first quarter of 2012. Agreement with DOE to Enable USEC to Provide Interim ACP Funding On March 13, 2012, USEC and DOE entered into an agreement that enables USEC to provide interim funding of $44 million for the RD&D program related to the American Centrifuge project. The $44 million of funding is expected to enable USEC to fund the ACP program activities through the end of March 2012. During this period, USEC will continue to work with DOE and Congress to secure funding for the RD&D program. For additional details, refer to Note 16, Commitments and Contingencies – American Centrifuge Plant – Project Funding. Amended and Restated Credit Facility On March 13, 2012, USEC amended and restated its existing $310.0 million credit facility (including the $85.0 million term loan), scheduled to mature on May 31, 2012, to a $235.0 million credit facility that matures on May 31, 2013. The amended and restated credit facility includes a revolving credit facility of $150.0 million (including up to $75.0 million in letters of credit) and a term loan of $85.0 million. Under the amended and restated credit facility, commencing December 3, 2012, the aggregate revolving commitments and term loan principal will be reduced by $5.0 million per month through the expiration of the credit facility. Refer to Note 7, Debt, for additional details.

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- Definition Tabular disclosure of significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, losses resulting from fire or flood, losses on receivables, significant realized and unrealized gains and losses that result from changes in quoted market prices of securities, declines in market prices of inventory, changes in authorized or issued debt (SEC), significant foreign exchange rate changes, substantial loans to insiders or affiliates, significant long-term investments, and substantial dividends not in the ordinary course of business. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 5 -Paragraph 11 -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 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Topic 855 -SubTopic 10 -Section 50 -Paragraph 2 -Name Accounting Standards Codification -URI http://asc.fasb.org/extlink&oid=6842918&loc=SL6314017-165662 + Details
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