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v3.25.2

Segment Information | 6 Months Ended
--- | ---
Jun. 30, 2025
Segment Reporting Information, Revenue for Reportable Segment [Abstract] |
Segment Information | SEGMENT INFORMATION Gross profit is the Company’s measure for segment reporting. There were no intersegment sales in the periods presented. Refer to Note 2, Revenue and Contracts with Customers, for additional details on revenue for each segment. The following table presents the Company’s segment information (in millions):
| Three Months Ended June 30, 2025 |  | Six Months Ended June 30, 2025
| 2025 |  | 2024 |  | 2025 |  | 2024
Revenue |  |  |  |  |  |  |
LEU segment: |  |  |  |  |  |  |
Separative work units | $ | 125.7 |  |  | $ | 139.7 |  |  | $ | 177.0 |  |  | $ | 163.3 |
Uranium | — |  |  | 29.9 |  |  | — |  |  | 29.9 |
Intersegment revenue, eliminated on consolidation | 6.1 |  |  | — |  |  | 6.1 |  |  | — |
Total | 131.8 |  |  | 169.6 |  |  | 183.1 |  |  | 193.2 |
Technical Solutions segment | 28.8 |  |  | 19.4 |  |  | 50.6 |  |  | 39.5 |
Total | 160.6 |  |  | 189.0 |  |  | $ | 233.7 |  |  | $ | 232.7 |
Elimination of intersegment revenue | (6.1) |  |  | — |  |  | (6.1) |  |  | — |
Total revenue | $ | 154.5 |  |  | $ | 189.0 |  |  | $ | 227.6 |  |  | $ | 232.7 |
Cost of Sales |  |  |  |  |  |  |
LEU segment: |  |  |  |  |  |  |
Separative work units and uranium | $ | 75.0 |  |  | $ | 136.6 |  |  | $ | 95.1 |  |  | $ | 159.7 |
Intersegment cost of sales, eliminated on consolidation | 4.3 |  |  | — |  |  | 4.3 |  |  | — |
Total | 79.3 |  |  | 136.6 |  |  | 99.4 |  |  | 159.7 |
Technical Solutions segment | 25.6 |  |  | 15.9 |  |  | 45.7 |  |  | 32.2 |
Total | 104.9 |  |  | 152.5 |  |  | 145.1 |  |  | 191.9 |
Elimination of intersegment cost of sales | (4.3) |  |  | — |  |  | (4.3) |  |  | — |
Total cost of sales | $ | 100.6 |  |  | $ | 152.5 |  |  | $ | 140.8 |  |  | $ | 191.9 |
Segment Gross Profit |  |  |  |  |  |  |
LEU segment: |  |  |  |  |  |  |
LEU segment | $ | 50.7 |  |  | $ | 33.0 |  |  | $ | 81.9 |  |  | $ | 33.5 |
Intersegment gross profit, eliminated on consolidation | 1.8 |  |  | — |  |  | 1.8 |  |  | — |
Total | 52.5 |  |  | 33.0 |  |  | 83.7 |  |  | 33.5 |
Technical Solutions segment: |  |  |  |  |  |  |
Technical Solutions | 3.2 |  |  | 3.5 |  |  | 4.9 |  |  | 7.3 |
Total | 3.2 |  |  | 3.5 |  |  | 4.9 |  |  | 7.3 |
Elimination of intersegment gross profit | (1.8) |  |  | — |  |  | (1.8) |  |  | — |
Gross profit | $ | 53.9 |  |  | $ | 36.5 |  |  | $ | 86.8 |  |  | $ | 40.8 |
Reconciliation to Income before income taxes |  |  |  |  |  |  |
Advanced technology costs | $ | 3.3 |  |  | $ | 4.1 |  |  | $ | 6.3 |  |  | $ | 9.8 |
Selling, general and administrative | 9.2 |  |  | 7.1 |  |  | 17.0 |  |  | 15.0 |
Stock compensation | 4.2 |  |  | 0.5 |  |  | 4.7 |  |  | 0.7 |
Amortization of intangible assets | 3.7 |  |  | 3.7 |  |  | 4.8 |  |  | 4.8 |
Nonoperating components of net periodic benefit loss | 1.0 |  |  | (16.3) |  |  | 1.9 |  |  | (16.2) |
Interest expense | 3.1 |  |  | 0.3 |  |  | 6.5 |  |  | 0.7 |
Investment income | (8.0) |  |  | (2.4) |  |  | (15.3) |  |  | (5.2) |
Extinguishment of long-term debt | — |  |  | — |  |  | (11.8) |  |  | — |
Other expense, net | — |  |  | — |  |  | 0.1 |  |  | 0.1 |
Income before income taxes | $ | 37.4 |  |  | $ | 39.5 |  |  | $ | 72.6 |  |  | $ | 31.1 |
The Company’s total assets are not presented for each reportable segment as they are not reviewed by, nor otherwise regularly provided to the chief operating decision maker (“CODM”), the CEO. The CODM uses revenue, cost of sales and gross profit to allocate resources (including personnel and financial or capital resources) for each segment, predominantly in the annual budget and quarterly financial review and forecasting process. The CODM considers budget-to-actual variances on a quarterly basis using revenue, cost of sale and gross profit when making decisions about allocating capital and personnel to the segments. Centrus’ long-term or long-lived assets, which include property, plant and equipment and other assets reported on the Consolidated Balance Sheet, were located in the United States as of June 30, 2025 and December 31, 2024. Revenue from Major Customers (10% or More of Total Revenue) In the three months ended June 30, 2025, three customers in the LEU segment individually represented $35.7 million, $32.8 million, and $19.9 million of revenue, respectively. In the six months ended June 30, 2025, three customers in the LEU segment individually represented $67.5 million, $35.7 million, and $32.8 million of revenue, respectively. One customer in the Technical Solutions segment individually represented $27.9 million and $49.6 million of revenue in the three and six months ended June 30, 2025, respectively. In both the three and six months ended June 30, 2024, four customers in the LEU segment individually represented $42.3 million, $35.4 million, $34.5 million, and $30.2 million of revenue, respectively. One customer in the Technical Solutions segment individually represented $18.9 million and $38.7 million of revenue in the three and six months ended June 30, 2024, respectively.

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- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 48 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-48 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards 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