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Special Charges

3 Months Ended

Mar. 31, 2018

Restructuring and Related Activities [Abstract]

Special Charges

SPECIAL CHARGES

Evolving Business Needs

Evolving business needs have resulted in workforce reductions since 2013. In the three months ended March 31, 2018 and 2017, special charges included estimated employee termination benefits of $0.7 million and $0.8 million, respectively. Centrus expects to make payments primarily in the second quarter of 2018 related to the $1.1 million balance payable at March 31, 2018. In the three months ended March 31, 2018 and 2017, the Company incurred advisory costs of $0.1 million and $1.6 million, respectively, related to updating its information technology systems.

Piketon Demonstration Facility

In February 2016, Centrus completed a successful three-year demonstration of American Centrifuge technology at its facility in Piketon, Ohio. The demonstration effort was primarily funded by the U.S. government. As a result of reduced program funding effective October 2015, Centrus incurred a special charge in 2015 for estimated employee termination benefits. Based on current expectations of required employee levels, $0.4 million of the remaining $3.8 million balance as of March 31, 2018, is classified as a current liability in the condensed consolidated balance sheet and the remaining $3.4 million is classified as a long-term liability and is expected to be paid in 2019.

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

		Liability December 31, 2017				Three Months Ended March 31, 2018								Liability March 31, 2018
						Charges for Termination Benefits				Paid/Settled
Workforce reductions:
Evolving business needs		$	0.8			$	0.7			$	(0.4	)		$	1.1
Piketon demonstration facility		5.7				—				(1.9		)		3.8
		$	6.5			$	0.7			$	(2.3	)		$	4.9

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- Definition

The entire disclosure for restructuring and related activities. Description of restructuring activities such as exit and disposal activities, include facts and circumstances leading to the plan, the expected plan completion date, the major types of costs associated with the plan activities, total expected costs, the accrual balance at the end of the period, and the periods over which the remaining accrual will be settled.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 420
-URI http://asc.fasb.org/topic&trid=2175745

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