- Secured more than $270 million in
new sales contracts and commitments year-to-date
- Continued to meet all milestones under the contract with the
U.S. Department of Energy (DOE) to deploy a cascade of centrifuges
to demonstrate production of High-Assay, Low-Enriched Uranium
(HALEU)
- Net loss of $6.1 million on
revenue of $33.2 million in Q3 2022,
compared to net income of $42.1
million on $91.3 million in
revenue in Q3 2021
BETHESDA, Md., Nov. 8, 2022
/PRNewswire/ -- Centrus Energy Corp. (NYSE American: LEU)
("Centrus" or the "Company") today reported third quarter 2022
results. The Company reported a net loss of $6.1 million for the quarter ended
September 30, 2022, compared to net income of $42.1 million for the third quarter of 2021. The
prior year period included the positive impact of a one-time item
totaling $43.5 million, as described
below. The net loss allocable to common stockholders in the third
quarter of 2022 was $6.1 million, or
$0.42 (basic and diluted) per common
share.
"While our third quarter results reflected the typical lumpiness
attributable to the timing of customer deliveries that we regularly
discuss on earnings calls, we continued to see strong momentum
across our business segments, as reflected in both our total order
book value and in the broader trends toward greater investment in
nuclear energy," said Centrus President and CEO Daniel B. Poneman. "Congress approved a
$700 million investment in
High-Assay, Low-Enriched Uranium (HALEU) as part of the U.S.
Inflation Reduction Act, and there is growing bipartisan support
for further action to jumpstart construction of domestic LEU and
HALEU capacity. We look forward to seeing how DOE implements that
funding. In the first nine months of 2022, we also secured
$270 million in new sales contracts
and commitments with contract terms extending through 2030 to
support our long-term success. As the only company with a U.S.
Nuclear Regulatory Commission license to produce HALEU, as well as
the only domestic operator of deployment-ready enrichment
technology in the United States,
Centrus is well positioned to serve the growing need for critical
fuels for advanced nuclear reactors both domestically and around
the world."
Financial Results
Centrus generated total revenue of $33.2
million for the third quarter of 2022 compared to
$91.3 million in the third quarter of
2021.
Revenue from the LEU segment was $20.2
million and $32.0 million in
the three months ended September 30,
2022 and 2021, respectively, a decrease of $11.8 million. The decrease is due to a decrease
in the average price of SWU sold, partially offset by an increase
in the volume of SWU sold, for the three months ended September 30, 2022, largely due to the
variability in timing of utility customer orders and related
contracts.
Revenue from the Technical Solutions segment was $13.0 million and $59.3
million in the three months ended September 30, 2022 and 2021, respectively, a
decrease of $46.3 million. Revenue in
the third quarter of 2021 included $43.5
million related to the settlement of the Company's claims
for reimbursements for certain pension and postretirement benefits
costs incurred in connection with a past cost-reimbursable contract
performed at the Portsmouth GDP. Excluding this settlement, the
decrease in revenue in the three months ended September 30, 2022, was primarily related to a
$1.2 million decrease in revenue
generated by the HALEU Contract and a $0.8
million decrease in revenue generated by the X-energy
contract, as well as a $0.8 million
decrease across other contracts.
Cost of sales for the LEU segment was $18.9 million and $23.7
million in the three months ended September 30, 2022 and 2021, respectively, a
decrease of $4.8 million. The
decrease is primarily a result of a $4.8
million charge to cost of sales for the three months ended
September 30, 2021, for the
revaluation of obligations for SWU borrowed.
Cost of sales for the Technical Solutions segment was
$12.0 million and $18.1 million in the three months ended
September 30, 2022 and 2021,
respectively, a decrease of $6.1
million. The decrease of $6.1
million in the three months ended September 30, 2022, is related to a reduction in
costs of approximately $4.5 million
associated with the HALEU Contract, $0.9
million associated with the X-energy contract, and
$0.7 million associated with other
contracts.
Gross profit for the Company was $2.3
million and $49.5 million in
the three months ended September 30,
2022 and 2021, respectively. This decrease was primarily
attributed to the settlement of the Company's claims for
reimbursements in the third quarter of 2021 for certain pension and
postretirement benefits costs as previously discussed.
New Sales Contract and
Commitments
On September 14, 2022, Centrus
announced that it had secured more than $270
million in new sales contracts and commitments year-to-date.
These sales include deliveries of SWU and uranium from 2022 through
2030.
About Centrus Energy
Corp.
Centrus Energy is a trusted supplier of nuclear fuel and
services for the nuclear power industry. Centrus provides value to
its utility customers through the reliability and diversity of its
supply sources – helping them meet the growing need for clean,
affordable, carbon-free electricity. Since 1998, the Company has
provided its utility customers with more than 1,750 reactor years
of fuel, which is equivalent to 7 billion tons of coal. With
world-class technical and engineering capabilities, Centrus is also
advancing the next generation of centrifuge technologies so that
America can restore its domestic uranium enrichment capability in
the future. Find out more at www.centrusenergy.com.
Forward-Looking
Statements:
This news release contains "forward-looking statements" within
the meaning of Section 21E of the Securities Exchange Act of 1934.
In this context, forward-looking statements mean statements related
to future events, may address our expected future business and
financial performance, and often contain words such as "expects",
"anticipates", "intends", "plans", "believes", "will", "should",
"could", "would" or "may" and other words of similar meaning.
Forward-looking statements by their nature address matters that
are, to different degrees, uncertain.
For Centrus Energy Corp., particular risks and uncertainties
that could cause our actual future results to differ materially
from those expressed in our forward-looking statements include but
are not limited to the following which are, and will be,
exacerbated by the novel coronavirus ("COVID-19") pandemic and
subsequent variants, and any worsening of the global business and
economic environment as a result; risks related to the war in
Ukraine and geopolitical conflicts
and the imposition of sanctions or other measures imposed by either
the U.S. or foreign governments, organizations (including the
United Nations, the European Union or other international
organizations), entities or persons, that could directly or
indirectly impact our ability to obtain or sell low enriched
uranium ("LEU") under our existing supply contract with the Russian
government-owned entity TENEX, Joint-Stock Company ("TENEX"); risks
related to the refusal of TENEX to deliver LEU to us if TENEX is
unable to receive payments, receive the return of natural uranium,
as a result of any government, international or corporate actions
or directions or other reasons; risks related to natural and other
disasters, including the continued impact of the March 2011 earthquake and tsunami in Japan on the nuclear industry and on our
business, results of operations and prospects; risks related to
financial difficulties experienced by customers or suppliers,
including possible bankruptcies, insolvencies or any other
inability to pay for our products or services or delays in making
timely payment; risks related to pandemics, endemics, and other
health crises; risks related to the impact and potential extended
duration of a supply/demand imbalance in the market for LEU;
risks related to our ability to sell the LEU we procure pursuant to
our purchase obligations under our supply agreements including
those imposed under the 1992 Russian Suspension Agreement as
amended, international trade legislation and other international
trade restrictions; risks related to existing or new trade barriers
and contract terms that limit our ability to procure LEU for, or
deliver LEU to customers; risks related to pricing trends and
demand in the uranium and enrichment markets and their impact on
our profitability; risks related to the movement and timing of
customer orders; risks related to our dependence on others, such as
our transporters, for deliveries of LEU including deliveries from
TENEX, under our commercial supply agreement with TENEX and
deliveries under our long-term commercial supply agreement with
Orano Cycle ("Orano") or other suppliers; risks associated with our
reliance on third-party suppliers and service providers to provide
essential products and services to us; risks related to the fact
that we face significant competition from major producers who may
be less cost sensitive or are wholly or partially government owned;
risks that our ability to compete in foreign markets may be limited
for various reasons; risks related to the fact that our revenue is
largely dependent on our largest customers; risks related to our
sales order book, including uncertainty concerning customer actions
under current contracts and in future contracting due to market
conditions and our lack of current production capability; risks
related to whether or when government funding or demand for
high-assay low-enriched uranium ("HALEU") for government or
commercial uses will materialize; risks and uncertainties regarding
funding for continuation and deployment of the American Centrifuge
technology; risks related to (i) our ability to perform and absorb
costs under our agreement with the U.S. Department of Energy
("DOE") to deploy a cascade of centrifuges to demonstrate
production of HALEU for advanced reactors (the "HALEU Contract"),
(ii) our ability to obtain contracts and funding to be able to
continue operations and (iii) our ability to obtain and/or perform
under other agreements; risks that (i) we may not obtain the full
benefit of the HALEU Contract and may not be able or allowed to
operate the HALEU enrichment facility to produce HALEU after the
completion of the existing HALEU Contract or (ii) the HALEU
enrichment facility may not be available to us as a future source
of supply; risks related to uncertainty regarding our ability to
commercially deploy competitive enrichment technology; risks
related to the potential for further demobilization or termination
of our American Centrifuge work; risks that we will not be able to
timely complete the work that we are obligated to perform; risks
related to our ability to perform fixed-price and cost-share
contracts such as the HALEU Contract, including the risk that costs
could be higher than expected; risks related to our significant
long-term liabilities, including material unfunded defined benefit
pension plan obligations and postretirement health and life benefit
obligations; risks relating to our 8.25% notes (the "8.25% Notes")
maturing in February 2027; risks of
revenue and operating results fluctuating significantly from
quarter to quarter, and in some cases, year to year; risks related
to the impact of financial market conditions on our business,
liquidity, prospects, pension assets and insurance facilities;
risks related to the Company's capital concentration; risks related
to the value of our intangible assets related to the sales order
book and customer relationships; risks related to the limited
trading markets in our securities; risks related to decisions made
by our Class B stockholders regarding their investment in the
Company based upon factors that are unrelated to the Company's
performance; risks that a small number of holders of our Class A
Common Stock, par value $0.10 per
share ("Class A Common Stock") (whose interests may not be aligned
with other holders of our Class A Common Stock), may exert
significant influence over the direction of the Company; risks
related to (i) the use of our net operating losses ("NOLs")
carryforwards and net unrealized built-in losses ("NUBILs") to
offset future taxable income and the use of the Rights Agreement
(as defined herein) to prevent an "ownership change" as defined in
Section 382 of the Internal Revenue Code of 1986, as amended (the
"Code") and (ii) our ability to generate taxable income to utilize
all or a portion of the NOLs prior to the expiration thereof and
NUBILs; failures or security breaches of our information technology
systems; risks related to our ability to attract and retain key
personnel; risks related to the potential for the DOE to seek to
terminate or exercise its remedies under its agreements with the
Company; risks related to actions, including reviews, that may be
taken by the United States
government, the Russian government or other governments that could
affect our ability to perform under our contractual obligations or
the ability of our sources of supply to perform under their
contractual obligations to us; risks related to our ability to
perform and receive timely payment under agreements with the DOE or
other government agencies, including risks and uncertainties
related to the ongoing funding by the government and potential
audits; risks related to changes or termination of agreements with
the U.S. government or other counterparties; risks related to the
competitive environment for our products and services; risks
related to changes in the nuclear energy industry; risks related to
the competitive bidding process associated with obtaining
contracts, including government contracts; risks that we will be
unable to obtain new business opportunities or achieve market
acceptance of our products and services or that products or
services provided by others will render our products or services
obsolete or noncompetitive; risks related to potential strategic
transactions that could be difficult to implement, disrupt our
business or change our business profile significantly; risks
related to the outcome of legal proceedings and other contingencies
(including lawsuits and government investigations or audits); risks
related to the impact of government regulation and policies
including by the DOE and the U.S. Nuclear Regulatory Commission;
risks of accidents during the transportation, handling or
processing of hazardous or radioactive material that may pose a
health risk to humans or animals, cause property or environmental
damage, or result in precautionary evacuations; risks associated
with claims and litigation arising from past activities at sites we
currently operate or past activities at sites that we no longer
operate, including the Paducah,
Kentucky, and Portsmouth,
Ohio, gaseous diffusion plants; and other risks and
uncertainties discussed in this and our other filings with the
Securities and Exchange Commission ("SEC"), including under Part I,
Item 1A - "Risk Factors" in our Annual Report on Form 10-K for the
year ended December 31, 2021, and under Part II, Item 1A -
"Risk Factors" in our Quarterly Report on Form 10-Q for the quarter
ended September 30, 2022.
These factors may not constitute all factors that could cause
actual results to differ from those discussed in any
forward-looking statement. Accordingly, forward-looking statements
should not be relied upon as a predictor of actual results. Readers
are urged to carefully review and consider the various disclosures
made in this report and in our other filings with the SEC that
attempt to advise interested parties of the risks and factors that
may affect our business. We do not undertake to update our
forward-looking statements to reflect events or circumstances that
may arise after the date of this press release except as required
by law.
Contacts:
Investors: Dan Leistikow at
LeistikowD@centrusenergy.com
Media: Lindsey Geisler at
GeislerLR@centrusenergy.com
CENTRUS ENERGY CORP.
ADJUSTED NET INCOME (LOSS) PER
SHARE RECONCILIATION TABLE
The Company measures Net Income (Loss) and Net Income (Loss) per
Share both on a GAAP basis and on an adjusted basis to exclude
deemed dividends allocable to retired preferred stock shares
("Adjusted Net Income (Loss)" and "Adjusted Net Income (Loss) per
Share"). We believe Adjusted Net Income (Loss) and Adjusted Net
Income (Loss) per Share, which are non-GAAP financial measures,
provide investors with additional understanding of the Company's
financial performance as well as its strategic financial planning
analysis and period-to-period comparability. These metrics are
useful to investors because they reflect how management evaluates
the Company's ongoing operating performance from period-to-period
after removing certain transactions and activities that affect
comparability of the metrics and are not reflective of the
Company's core operations.
|
Three Months
Ended
September
30,
|
|
Nine Months
Ended
September
30,
|
|
2022
|
|
2021
|
|
2022
|
|
2021
|
Numerator (in
millions):
|
|
|
|
|
|
|
|
Net income
(loss)
|
$
(6.1)
|
|
$
42.1
|
|
$
30.9
|
|
$
58.8
|
Less: Preferred stock
dividends - undeclared and cumulative
|
—
|
|
0.7
|
|
—
|
|
2.1
|
Less: Distributed
earnings allocable to retired preferred shares
|
—
|
|
—
|
|
—
|
|
6.6
|
Net income (loss)
allocable to common stockholders
|
$
(6.1)
|
|
$
41.4
|
|
$
30.9
|
|
$
50.1
|
|
|
|
|
|
|
|
|
Plus: Distributed
earnings allocable to retired preferred shares
|
$
—
|
|
$
—
|
|
$
—
|
|
$
6.6
|
|
|
|
|
|
|
|
|
Adjusted net income
(loss), including distributed earnings allocable to retired
preferred shares (Non-GAAP)
|
$
(6.1)
|
|
$
41.4
|
|
$
30.9
|
|
$
56.7
|
|
|
|
|
|
|
|
|
Denominator (in
thousands):
|
|
|
|
|
|
|
|
Average common shares
outstanding - basic
|
14,623
|
|
13,741
|
|
14,586
|
|
13,365
|
Average common shares
outstanding - diluted
|
14,623
|
|
14,056
|
|
14,974
|
|
13,702
|
|
|
|
|
|
|
|
|
Net income (loss) per
share (in dollars):
|
|
|
|
|
|
|
|
Basic
|
$
(0.42)
|
|
$
3.01
|
|
$
2.12
|
|
$
3.75
|
Diluted
|
$
(0.42)
|
|
$
2.95
|
|
$
2.06
|
|
$
3.66
|
|
|
|
|
|
|
|
|
Plus: Effect of
distributed earnings allocable to retired preferred shares, per
common share (in dollars):
|
|
|
|
|
|
|
|
Basic
|
$
—
|
|
$
—
|
|
$
—
|
|
$
0.49
|
Diluted
|
$
—
|
|
$
—
|
|
$
—
|
|
$
0.48
|
|
|
|
|
|
|
|
|
Adjusted Net Income
(Loss) per Share (Non-GAAP) (in dollars):
|
|
|
|
|
|
|
|
Basic
|
$
(0.42)
|
|
$
3.01
|
|
$
2.12
|
|
$
4.24
|
Diluted
|
$
(0.42)
|
|
$
2.95
|
|
$
2.06
|
|
$
4.14
|
CENTRUS ENERGY
CORP.
CONSOLIDATED
STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME
(Unaudited; in
millions, except share and per share data)
|
|
|
Three Months
Ended
September
30,
|
|
Nine Months
Ended
September
30,
|
|
2022
|
|
2021
|
|
2022
|
|
2021
|
Revenue:
|
|
|
|
|
|
|
|
Separative work
units
|
$
7.7
|
|
$
19.1
|
|
$
106.0
|
|
$
102.4
|
Uranium
|
12.5
|
|
12.9
|
|
17.4
|
|
12.9
|
Technical
solutions
|
13.0
|
|
59.3
|
|
44.2
|
|
94.0
|
Total
revenue
|
33.2
|
|
91.3
|
|
167.6
|
|
209.3
|
Cost of
Sales:
|
|
|
|
|
|
|
|
Separative work units
and uranium
|
18.9
|
|
23.7
|
|
59.8
|
|
76.1
|
Technical
solutions
|
12.0
|
|
18.1
|
|
38.3
|
|
54.9
|
Total cost of
sales
|
30.9
|
|
41.8
|
|
98.1
|
|
131.0
|
Gross profit
|
2.3
|
|
49.5
|
|
69.5
|
|
78.3
|
Advanced technology
costs
|
5.4
|
|
0.6
|
|
10.0
|
|
1.3
|
Selling, general and
administrative
|
8.6
|
|
9.0
|
|
24.4
|
|
25.0
|
Amortization of
intangible assets
|
1.1
|
|
1.7
|
|
6.2
|
|
5.4
|
Special charges for
workforce reductions
|
—
|
|
—
|
|
0.5
|
|
—
|
Operating income
(loss)
|
(12.8)
|
|
38.2
|
|
28.4
|
|
46.6
|
Nonoperating
components of net periodic benefit income
|
(4.4)
|
|
(4.3)
|
|
(11.1)
|
|
(12.9)
|
Interest
expense
|
0.1
|
|
—
|
|
0.1
|
|
—
|
Investment
income
|
(0.6)
|
|
—
|
|
(0.8)
|
|
—
|
Income (loss) before
income taxes
|
(7.9)
|
|
42.5
|
|
40.2
|
|
59.5
|
Income tax expense
(benefit)
|
(1.8)
|
|
0.4
|
|
9.3
|
|
0.7
|
Net income (loss) and
comprehensive income (loss)
|
(6.1)
|
|
42.1
|
|
30.9
|
|
58.8
|
Preferred stock
dividends - undeclared and cumulative
|
—
|
|
0.7
|
|
—
|
|
2.1
|
Distributed earnings
allocable to retired preferred shares
|
—
|
|
—
|
|
—
|
|
6.6
|
Net income (loss)
allocable to common stockholders
|
$
(6.1)
|
|
$
41.4
|
|
$
30.9
|
|
$
50.1
|
|
|
|
|
|
|
|
|
Net income (loss) per
share:
|
|
|
|
|
|
|
|
Basic
|
$
(0.42)
|
|
$
3.01
|
|
$
2.12
|
|
$
3.75
|
Diluted
|
$
(0.42)
|
|
$
2.95
|
|
$
2.06
|
|
$
3.66
|
Average number of
common shares outstanding (in thousands):
|
|
|
|
|
|
|
|
Basic
|
14,623
|
|
13,741
|
|
14,586
|
|
13,365
|
Diluted
|
14,623
|
|
14,056
|
|
14,974
|
|
13,702
|
CENTRUS ENERGY
CORP.
CONSOLIDATED
STATEMENTS OF CASH FLOWS
(Unaudited; in
millions)
|
|
|
Nine Months
Ended
September
30,
|
|
2022
|
|
2021
|
OPERATING
|
|
|
|
Net income
|
$
30.9
|
|
$
58.8
|
Adjustments to
reconcile net income to cash used in operating
activities:
|
|
|
|
Depreciation and
amortization
|
6.7
|
|
5.8
|
Accrued loss on
long-term contract
|
(0.5)
|
|
(6.5)
|
Deferred tax
assets
|
8.8
|
|
(0.1)
|
Equity related
compensation
|
2.2
|
|
0.4
|
Revaluation of
inventory borrowing
|
5.5
|
|
4.8
|
Changes in operating
assets and liabilities:
|
|
|
|
Accounts
receivable
|
21.8
|
|
12.7
|
Inventories
|
(98.9)
|
|
0.1
|
Inventories owed to
customers and suppliers
|
66.9
|
|
2.1
|
Other current
assets
|
(16.6)
|
|
(1.5)
|
Accounts payable and
other liabilities
|
(1.9)
|
|
7.2
|
Payables under
inventory purchase agreements
|
(16.3)
|
|
(19.0)
|
Deferred revenue and
advances from customers, net of deferred costs
|
(30.4)
|
|
(8.6)
|
Pension and
postretirement benefit liabilities
|
(13.0)
|
|
(55.3)
|
Other, net
|
(0.3)
|
|
(0.1)
|
Cash provided by (used
in) operating activities
|
(35.1)
|
|
0.8
|
|
|
|
|
INVESTING
|
|
|
|
Capital
expenditures
|
(0.6)
|
|
(0.7)
|
Cash used in investing
activities
|
(0.6)
|
|
(0.7)
|
|
|
|
|
FINANCING
|
|
|
|
Proceeds from the
issuance of common stock, net
|
—
|
|
27.2
|
Exercise of stock
options
|
0.2
|
|
0.5
|
Withholding of shares
to fund grantee tax obligations under stock-based compensation
plan
|
(1.9)
|
|
(2.4)
|
Payment of interest
classified as debt
|
(6.1)
|
|
(6.1)
|
Other
|
(0.3)
|
|
(0.3)
|
Cash provided by (used
in) financing activities
|
(8.1)
|
|
18.9
|
|
|
|
|
Increase (decrease) in
cash, cash equivalents and restricted cash
|
(43.8)
|
|
19.0
|
Cash, cash equivalents
and restricted cash, beginning of period
|
196.8
|
|
157.9
|
Cash, cash equivalents
and restricted cash, end of period
|
$
153.0
|
|
$
176.9
|
|
|
|
|
Non-cash
activities:
|
|
|
|
Common stock and
warrant issued in exchange for preferred stock
|
$
—
|
|
$
7.5
|
Reclassification of
stock-based compensation liability to equity
|
$
10.6
|
|
$
7.5
|
Disposal of right to
use lease assets from lease modification
|
$
—
|
|
$
1.0
|
Property, plant and
equipment included in accounts payable and accrued
liabilities
|
$
—
|
|
$
0.4
|
Equity issuance costs
included in accounts payable and accrued liabilities
|
$
—
|
|
$
0.1
|
CENTRUSENERGY
CORP
CONSOLIDATED BALANCE
SHEETS
(Unaudited; in
millions, except share and per share data)
|
|
|
September
30,
2022
|
|
December
31,
2021
|
ASSETS
|
|
|
|
Current
assets:
|
|
|
|
Cash and cash
equivalents
|
$
131.7
|
|
$
193.8
|
Accounts
receivable
|
7.4
|
|
29.1
|
Inventories
|
209.3
|
|
91.1
|
Deferred costs
associated with deferred revenue
|
135.3
|
|
143.3
|
Other current
assets
|
25.2
|
|
8.6
|
Total current
assets
|
508.9
|
|
465.9
|
Property, plant and
equipment, net of accumulated depreciation of $3.4 million as of
September 30, 2022 and $3.0 million as of December 31,
2021
|
5.4
|
|
5.3
|
Deposits for financial
assurance
|
21.1
|
|
2.8
|
Intangible assets,
net
|
48.5
|
|
54.7
|
Deferred tax
assets
|
32.6
|
|
41.4
|
Other long-term
assets
|
1.7
|
|
2.3
|
Total assets
|
$
618.2
|
|
$
572.4
|
|
|
|
|
LIABILITIES AND
STOCKHOLDERS' DEFICIT
|
|
|
|
Current
liabilities:
|
|
|
|
Accounts payable and
accrued liabilities
|
$
30.0
|
|
$
37.8
|
Payables under
inventory purchase agreements
|
21.5
|
|
37.9
|
Inventories owed to
customers and suppliers
|
75.4
|
|
8.4
|
Deferred revenue and
advances from customers
|
264.9
|
|
303.1
|
Current
debt
|
6.1
|
|
6.1
|
Total current
liabilities
|
397.9
|
|
393.3
|
Long-term
debt
|
95.7
|
|
101.8
|
Postretirement health
and life benefit obligations
|
112.8
|
|
114.9
|
Pension benefit
liabilities
|
12.4
|
|
23.1
|
Advances from
customers
|
46.2
|
|
45.1
|
Long-term inventory
loans
|
45.8
|
|
22.4
|
Other long-term
liabilities
|
7.7
|
|
13.7
|
Total
liabilities
|
718.5
|
|
714.3
|
|
|
|
|
Stockholders'
deficit:
|
|
|
|
Preferred stock, par
value $1.00 per share, 20,000,000 shares authorized
|
|
|
|
Series A Participating
Cumulative Preferred Stock, none issued
|
—
|
|
—
|
Series B Senior
Preferred Stock, none issued
|
—
|
|
—
|
Class A Common Stock,
par value $0.10 per share, 70,000,000 shares authorized, 13,770,556
and 13,649,933 shares issued and outstanding as of
September 30, 2022 and December 31, 2021,
respectively
|
1.4
|
|
1.4
|
Class B Common Stock,
par value $0.10 per share, 30,000,000 shares authorized, 719,200
shares issued and outstanding as of September 30, 2022 and
December 31, 2021
|
0.1
|
|
0.1
|
Excess of capital over
par value
|
151.7
|
|
140.7
|
Accumulated
deficit
|
(253.7)
|
|
(284.6)
|
Accumulated other
comprehensive income
|
0.2
|
|
0.5
|
Total stockholders'
deficit
|
(100.3)
|
|
(141.9)
|
Total liabilities and
stockholders' deficit
|
$
618.2
|
|
$
572.4
|
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SOURCE Centrus Energy Corp.