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Accounts Receivable | 9 Months Ended
--- | ---
Sep. 30, 2014
Accounts Receivable, Net, Current [Abstract] |
Accounts Receivable | RECEIVABLES
| Successor |  |  | Predecessor
($ millions) | September 30, 2014 |  |  | December 31, 2013
Utility customers and other | $ | 67.9 |  |  |  | $ | 129.3 |
DOE cost share of Cooperative Agreement funding | — |  |  |  | 20.1 |
Contract services, primarily DOE | 22.1 |  |  |  | 13.6 |
Accounts receivable | $ | 90.0 |  |  |  | $ | 163.0 |
In addition, certain overdue receivables from DOE are included in other long-term assets based on the extended timeframe expected to resolve claims for payment. Unpaid invoices to DOE totaled approximately $75 million at September 30, 2014 and approximately $81 million at December 31, 2013 related to filed claims. Due to the lack of a resolution with DOE and uncertainty regarding the timing and amount of future collections, Centrus has adjusted the overdue receivable balance for accounting purposes. The long-term receivable for fresh start accounting purposes is $19.8 million as of September 30, 2014. Centrus believes DOE has breached its agreements by failing to establish appropriate provisional billing and final indirect cost rates on a timely basis and the Company has filed claims with DOE for payment under the Contract Disputes Act ("CDA"). DOE denied the Company's initial claim for payment of $38.0 million for the periods through 2011, and on May 30, 2013, the Company appealed DOE's denial of its claims to the U.S. Court of Federal Claims. The Company has been able to reach a resolution on a portion of the amounts claimed and DOE has now paid approximately $6 million of claims for work performed in 2003 through 2005. The Court dismissed claims against DOE related to approximately $3.8 million due from prime subcontractors to DOE and the Company intends to pursue payment of such claims directly from the DOE subcontractors. On August 30, 2013, the Company submitted an additional claim to DOE under the CDA for payment of $42.8 million, representing DOE's share of pension and postretirement benefits costs related to the transition of Portsmouth site employees to DOE's decontamination and decommissioning ("D&D") contractor. On August 27, 2014, the DOE contracting officer denied the Company's claim. The Company intends to appeal the decision but there is no assurance it will be successful in its appeal. As noted in Note 19, Centrus has potential pension plan funding obligations under Section 4062(e) of the Employee Retirement Income Security Act ("ERISA") related to the Company's de-lease of the Portsmouth gaseous diffusion facilities and transition of employees to DOE's D&D contractor and related to the transition of employees in connection with the Paducah GDP transition. Centrus believes that DOE is responsible for a significant portion of any pension and postretirement benefit costs associated with the transition of employees at Portsmouth. The receivable for DOE's share of pension and postretirement benefits costs has a full valuation allowance due to the lack of a resolution with DOE and uncertainty regarding the amounts owed and the timing of collection. The amounts owed by DOE may be more than the amounts invoiced by the Company to date. Centrus has unapplied payments from DOE included in other long-term liabilities pending resolution of the long-term receivables from DOE described above. DOE funded a portion of the Company's contract services work through an arrangement whereby DOE transferred uranium to the Company which the Company immediately sold. The Company completed six competitive sales of uranium between the fourth quarter of 2009 and the first quarter of 2011. The net cash proceeds remaining from these uranium sales are to be applied, at the direction of DOE, (a) as revenue is recognized in the Company’s contract services segment as services are provided or (b) to existing receivables balances due from DOE in the Company’s contract services segment. The remaining payment balance included in other long-term liabilities is $19.6 million as of September 30, 2014 and $19.7 million as of December 31, 2013.

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