Cash, Cash Equivalents and Restricted Cash

6 Months Ended

Jun. 30, 2019

Cash, Cash Equivalents and Restricted Cash [Abstract]

CASH, CASH EQUIVALENTS AND RESTRICTED CASH

The following table summarizes the Company’s cash, cash equivalents and restricted cash as presented on the condensed consolidated balance sheet to amounts on the condensed consolidated statement of cash flows (in millions):



	June 30, 2019		December 31, 2018

Cash and cash equivalents	$	88.3	$	123.1
Deposits for financial assurance - current	18.0		30.3
Deposits for financial assurance - noncurrent	5.7		6.3
Total cash, cash equivalents and restricted cash	$	112.0	$	159.7

The following table provides additional detail regarding the Company’s deposits for financial assurance (in millions):



	June 30, 2019				December 31, 2018
	Current		Long-Term		Current		Long-Term
NRC license	$	16.9	$	—	$	16.6	$	—
DOE lease	—		—		13.5		—
Workers compensation	0.6		5.4		—		6.0
Other	0.5		0.3		0.2		0.3
Total deposits for financial assurance	$	18.0	$	5.7	$	30.3	$	6.3

Piketon Facility Obligations and Surety Bonds

Centrus leases gas centrifuge enrichment plant facilities and related personal property in Piketon, Ohio from DOE. Centrus previously provided financial assurance to DOE for lease turnover obligations in the form of surety bonds that were fully cash collateralized. On May 31, 2019, DOE and Centrus amended the lease agreement, which was scheduled to expire by its terms on June 30, 2019. In the second quarter of 2019, Centrus completed its lease turnover obligations related to the term ended June 30, 2019. DOE released the bonds and Centrus received the cash collateral of $13.5 million. In addition, Centrus has previously provided financial assurance to the U.S. Nuclear Regulatory Commission (“NRC”) for the decontamination and decommissioning (“D&D”) of the facility in the form of surety bonds that are fully cash collateralized by Centrus for $16.9 million. The Company has completed the D&D work required for elimination of financial assurance under NRC license requirements and is working with the NRC to have the surety bonds cancelled, which would permit the Company to receive the cash collateral.

Financial Assurance for Workers’ Compensation

The Company has provided financial assurance to states in which it was previously self-insured for workers’ compensation in accordance with each state’s requirements in the form of a surety bond and a letter of credit that are fully cash collateralized by Centrus. When each state determines that Centrus is likely to have no further workers’ compensation obligations related to the period of self-insurance, the surety bond and letter of credit will be cancelled and the Company expects to receive the cash collateral. Of the $6.0 million in cash collateral as of June 30, 2019, $0.6 million relates to a letter of credit that is cancelling within 12 months.