XML 38 R27.htm IDEA: XBRL DOCUMENT
v3.19.1

Leases (Tables) | 3 Months Ended
--- | ---
Mar. 31, 2019
Leases [Abstract] |
Lessee, Operating Lease, Liability, Maturity [Table Text Block] | Prior to the adoption of Topic 842, future estimated minimum lease payments as of December 31, 2018 for leases with remaining terms in excess of one year were as follows (in millions):
2019 | $ | 0.9 |
2020 | 0.9 |
2021 | 0.9 |
2022 | 1.0 |
2023 | 1.0 |
Thereafter | 3.8 |
| $ | 8.5 |
The table below reconciles undiscounted payments for operating leases with terms greater than 12 months to the operating lease liabilities recorded on the balance sheet (in millions).
Remainder of 2019 | $ | 1.9 |
2020 | 1.1 |
2021 | 1.2 |
2022 | 1.1 |
2023 | 1.1 |
Thereafter | 3.8 |
Total lease payments | 10.2 |
Less imputed interest | 3.4 |
Present value of lease payments | $ | 6.8 |
Schedule of Future Minimum Rental Payments for Operating Leases [Table Text Block] | LEASES Centrus leases facilities and equipment under operating leases. Lease expense for operating leases is recognized on a straight-line basis over the lease term. The Company has facility leases with terms greater than 12 months, and the Company records the related asset and obligation at the present value of lease payments over the term. Leases with an initial term of 12 months or less are not recorded on the balance sheet. Refer to Note 1, Basis of Presentation, for information regarding the Company’s adoption of Topic 842 on January 1, 2019. Lease assets represent the right to use an underlying asset for the lease term, and lease liabilities represent the obligation to make lease payments arising from the lease. Lease assets exclude lease incentives. Lease terms reflect options to extend or terminate the lease when it is reasonably certain that those options will be exercised. The depreciable life of lease assets and leasehold improvements is limited by the expected lease term. The weighted-average remaining lease term was 4.5 years at March 31, 2019, with maturity dates ranging from June 2019 to September 2027, and the weighted-average discount rate was 12.5%. Lease expense amounted to $0.8 million in the three months ended March 31, 2019 and $0.8 million in the three months ended March 31, 2018. Expense for the three months ended March 31, 2019 was primarily related to operating leases and amounts related to short-term lease expense were insignificant. Operating lease expense is included in Cost of Sales, Selling, General and Administrative Expenses and Advance Technology License and Decommissioning Costs on the Statement of Operations. Cash paid for amounts included in operating cash flows for operating leases was $0.8 million in the three months ended March 31, 2019. There were no additional lease-related assets and liabilities recorded in the three months ended March 31, 2019. Operating Lease Assets and Liabilities The table below presents the lease-related assets and liabilities recorded on the balance sheet (in millions).
| March 31, 2019 |  | Classification on the Balance Sheet
Lease assets | $ | 4.3 |  |  | Other long-term assets
Lease liabilities: |  |  |
Current | 1.7 |  |  | Accounts payable and accrued liabilities
Noncurrent | 5.1 |  |  | Other long-term liabilities
Total lease liabilities | $ | 6.8 |  |  |
Maturity of Operating Lease Liabilities The table below reconciles undiscounted payments for operating leases with terms greater than 12 months to the operating lease liabilities recorded on the balance sheet (in millions).
Remainder of 2019 | $ | 1.9 |
2020 | 1.1 |
2021 | 1.2 |
2022 | 1.1 |
2023 | 1.1 |
Thereafter | 3.8 |
Total lease payments | 10.2 |
Less imputed interest | 3.4 |
Present value of lease payments | $ | 6.8 |
Minimum Lease Payments Prior to the adoption of Topic 842, future estimated minimum lease payments as of December 31, 2018 for leases with remaining terms in excess of one year were as follows (in millions):
2019 | $ | 0.9 |
2020 | 0.9 |
2021 | 0.9 |
2022 | 1.0 |
2023 | 1.0 |
Thereafter | 3.8 |
| $ | 8.5 |

X
- References No definition available. + Details
Name: | us-gaap_LeasesAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of undiscounted cash flows of lessee's operating lease liability. Includes, but is not limited to, reconciliation of undiscounted cash flows to operating lease liability recognized in statement of financial position. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 20 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=77888426&loc=SL77918701-209980 + Details
Name: | us-gaap_LesseeOperatingLeaseLiabilityMaturityTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of future minimum payments required in the aggregate and for each of the five succeeding fiscal years for operating leases having initial or remaining noncancelable lease terms in excess of one year and the total minimum rentals to be received in the future under noncancelable subleases as of the balance sheet date. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 840 -SubTopic 20 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=77902758&loc=d3e41502-112717 + Details
Name: | us-gaap_ScheduleOfFutureMinimumRentalPaymentsForOperatingLeasesTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration