XML 31 R18.htm IDEA: XBRL DOCUMENT v3.25.0.1
Segment Reporting
 12 Months Ended
Dec. 31, 2024
Segment Reporting  
Segment Reporting

Note 11. Segment Reporting

 

Operating segments are defined as components of an enterprise about which separate discrete information is available for evaluation by the chief operating decision maker, or decision-making group, in deciding how to allocate resources in assessing performance. The Company has one reportable business segment: nuclear fuel technology. This segment consists of the research and development and commercialization of its nuclear fuel. The Company’s chief operating decision maker (“CODM”) is the chief executive officer.

 

The accounting policies of the segment are the same as those described in the summary of significant accounting policies. The CODM assesses performance for the segment based on net loss as reported on the consolidated statement of operations. The Company expects to continue to incur significant expenses and operating losses for the foreseeable future as it advances its nuclear fuel through all the stages of its development and commercialization. In addition, the measure of segment assets is reported on the consolidated balance sheet as total assets.

 

The CODM uses segment net loss to allocate resources predominately in the annual budget and forecasting process and uses that measure as a basis for evaluating progress toward R&D milestones. The CODM uses cash forecast models in deciding how to invest into the segment. Research and development expenses, general and administrative expenses are included in segment net loss and used to monitor budget versus actual results. Monitoring budgeted versus actual results is used in assessing performance of the segment, while research and development milestones scorecard results and scorecard general and administrative budgeted results are used in establishing management’s incentive compensation.

 

The table below summarizes the significant expense categories regularly provided to the CODM for the years ended December 31, 2024, and 2023 (rounded in millions):

 

 

 

Year Ended

 

 

 

December 31,

 

 

 

2024

 

 

2023

 

Revenue

 

$-

 

 

$-

 

General and administrative

 

 

8.5

 

 

 

7.1

 

Research and development:

 

 

 

 

 

 

INL Project

 

 

1.7

 

 

 

0.8

 

Romania feasibility study

 

 

0.2

 

 

 

-

 

Centrus Energy FEED study

 

 

0.3

 

 

 

-

 

Allocated employee compensation and stock-based compensation

 

 

1.8

 

 

 

0.7

 

Other outside R&D expenses

 

 

0.6

 

 

 

0.4

 

Total research and development

 

 

4.6

 

 

 

1.9

 

Other segments item (1)

 

 

(1.3)

 

 

(1.1)

Net loss

 

$(11.8)

 

$(7.9)

 

(1) Other segment items include interest income and contributed services – research and development