CENTRUS ENERGY CORP
For the period ended Dec 31, 2023. Filed Feb 9, 2024.
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FY2023 · Filed Feb 9, 2024
LEU$109.87-6.4%Stored close · as of Nov 10, 2026
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Item 8. Consolidated Statements of Cash Flows
CONSOLIDATED STATEMENTS OF CASH FLOWS
(in millions)
| Year Ended December 31, | |||
|---|---|---|---|
| 2023 | 2022 | 2021 | |
| OPERATING | |||
| Net income | $84.4 | $52.2 | $175.0 |
| Adjustments to reconcile net income to cash provided by operating activities: | |||
| Depreciation and amortization | 7.1 | 9.6 | 8.6 |
| Accrued loss on long-term contract | (20.0) | 19.5 | (7.2) |
| Deferred tax assets | (1.6) | 14.7 | (39.5) |
| Retirement benefit plans (gains) losses, net | (24.6) | 7.8 | (50.5) |
| Revaluation of inventory borrowing | 7.4 | 8.0 | 4.8 |
| Equity-related compensation | 2.3 | 1.9 | 12.1 |
| Other reconciling adjustments, net | (1.6) | — | — |
| Changes in operating assets and liabilities: | |||
| Accounts receivable | (11.3) | (9.0) | 0.5 |
| Inventories | (83.8) | (88.5) | (14.2) |
| Inventories owed to customers and suppliers | 23.5 | 52.4 | 3.5 |
| Other current assets | 14.9 | (15.6) | (1.0) |
| Payables under inventory purchase agreements | (1.7) | 5.7 | 16.6 |
| Deferred revenue and advances from customers, net of deferred costs | 12.1 | (22.5) | 13.2 |
| Accounts payable and other liabilities | 8.5 | 2.6 | (4.6) |
| Pension and postretirement liabilities | (5.7) | (18.1) | (67.0) |
| Other changes, net | (0.8) | (0.1) | (0.3) |
| Cash provided by operating activities | 9.1 | 20.6 | 50.0 |
| INVESTING | |||
| Capital expenditures | (1.6) | (0.7) | (1.2) |
| Cash used in investing activities | (1.6) | (0.7) | (1.2) |
| FINANCING | |||
| Proceeds from the issuance of common stock, net | 23.2 | 3.6 | 42.1 |
| Redemption of preferred stock, net | — | — | (44.4) |
| Payment of interest classified as debt | (6.1) | (6.1) | (6.1) |
| Exercise of stock options | — | 0.4 | 0.9 |
| Withholding of shares to fund grantee tax obligations under stock-based compensation plan | (3.0) | (1.9) | (2.4) |
| Other | (0.2) | (0.3) | — |
| Cash provided by (used in) financing activities | 13.9 | (4.3) | (9.9) |
| Increase in cash, cash equivalents and restricted cash | 21.4 | 15.6 | 38.9 |
| Cash, cash equivalents and restricted cash, beginning of year (Note 3) | 212.4 | 196.8 | 157.9 |
| Cash, cash equivalents and restricted cash, end of year (Note 3) | $233.8 | $212.4 | $196.8 |
| Year Ended December 31, | |||
|---|---|---|---|
| 2023 | 2022 | 2021 | |
| Supplemental cash flow information: | |||
| Non-cash activities: | |||
| Property, plant and equipment included in accounts payable and accrued liabilities | 0.9 | 0.2 | — |
| Equity transaction costs included in accounts payable and accrued liabilities | — | 0.2 | 0.4 |
| Adjustment to right to use lease assets from lease modification | (4.2) | 6.6 | — |
| Disposal of right to use lease assets from lease modification | — | — | 1.0 |
| Reclassification of equity compensation liability to equity | — | 10.6 | 7.5 |
| Common stock and warrant issued in exchange for preferred stock | — | — | 7.5 |
| Distributed earnings allocable to warrant modification | — | 1.5 | — |
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