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Special Charges

3 Months Ended

Mar. 31, 2019

Restructuring and Related Activities [Abstract]

Special Charges

SPECIAL CHARGES

Special charges in the three months ended March 31, 2019, consisted of a gain of $0.1 million for the reversal of accrued termination benefits related to unvested employee departures. For the three months ended March 31, 2018, special charges totaled $0.6 million, consisting of estimated employee termination benefits of $0.7 million and advisory costs related to updating the Company’s information technology systems of $0.1 million, partially offset by a gain of $0.2 million for the reversal of accrued termination benefits related to unvested employee departures.

Workforce reductions have resulted from evolving business needs and the completion of the demonstration of American Centrifuge technology at the Company’s facility in Piketon, Ohio. Without mutual agreement between Centrus and DOE regarding other possible uses for the Piketon facility, the remaining balance of termination benefits of $3.2 million related to the Piketon facility is expected to be paid in the third quarter of 2019 and is classified in Accounts Payable and Accrued Liabilities in the condensed consolidated balance sheet. A summary of termination benefit activity and related liabilities follows (in millions):

		Liability Dec. 31, 2018				Three Months Ended   March 31, 2019								Liability Mar. 31, 2019
						Charges for Termination Benefits				Paid/ Settled
Workforce reductions:
Evolving business needs		$	0.9			$	—			$	(0.3	)		$	0.6
Piketon demonstration facility		3.2				—				—				3.2
Total		$	4.1			$	—			$	(0.3	)		$	3.8

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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://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 420
-URI http://asc.fasb.org/topic&trid=2175745

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