CENTRUS ENERGY CORP
For the period ended Dec 31, 2025. Filed Feb 11, 2026.
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FY2025 · Filed Feb 11, 2026
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, | |||
|---|---|---|---|
| 2025 | 2024 | 2023 | |
| OPERATING | |||
| Net income | $77.8 | $73.2 | $84.4 |
| Adjustments to reconcile net income to cash provided by operating activities: | |||
| Depreciation and amortization | 9.9 | 10.8 | 7.1 |
| Accrued loss on long-term contract | — | — | (20.0) |
| Deferred tax assets | 7.4 | (0.7) | (1.6) |
| Loss (gain) on remeasurement of retirement benefit plans, net | 2.9 | (17.3) | (24.6) |
| Revaluation of inventory borrowing | 3.6 | 2.1 | 7.4 |
| Gain on extinguishment of 8.25% Notes | (11.8) | — | — |
| Equity-related compensation | 5.8 | 1.5 | 2.3 |
| Amortization of debt issuance costs and discount | 3.4 | 0.3 | — |
| Other reconciling adjustments, net | 0.1 | (0.2) | (1.6) |
| Changes in operating assets and liabilities: | |||
| Accounts receivable | 49.2 | (30.5) | (11.3) |
| Inventories | (230.0) | 101.0 | (83.8) |
| Inventories owed to customers and suppliers | 176.5 | (68.1) | 23.5 |
| Other current assets | 2.2 | 2.4 | 14.9 |
| Payables under inventory purchase agreements | (11.0) | (12.4) | (1.7) |
| Deferred revenue and advances from customers, net of deferred costs | (29.5) | (15.1) | 12.1 |
| Accounts payable and other liabilities | 0.4 | (1.4) | 8.5 |
| Pension and postretirement liabilities | (5.7) | (8.3) | (5.7) |
| Other changes, net | (0.2) | (0.3) | (0.8) |
| Cash provided by operating activities | 51.0 | 37.0 | 9.1 |
| INVESTING | |||
| Capital expenditures | (19.7) | (4.1) | (1.6) |
| Cash used in investing activities | (19.7) | (4.1) | (1.6) |
| FINANCING | |||
| Proceeds from the issuance of common stock, net | 523.7 | 54.7 | 23.2 |
| Proceeds from the issuance of 0% and 2.25% Convertible Senior Notes, net | 782.4 | 388.7 | — |
| Payment of interest classified as debt | (3.5) | (6.1) | (6.1) |
| Payment of principal to redeem 8.25% Notes | (74.3) | — | — |
| Exercise of stock options | — | 0.4 | — |
| Common stock withheld for tax obligations under equity-related compensation plan | (3.4) | (0.6) | (3.0) |
| Other | — | — | (0.2) |
| Cash provided by financing activities | 1,224.9 | 437.1 | 13.9 |
| Effect of exchange rate changes on cash, cash equivalents and restricted cash | (0.1) | 0.2 | — |
| Increase in cash, cash equivalents and restricted cash | 1,256.1 | 470.2 | 21.4 |
| Cash, cash equivalents and restricted cash, beginning of year (Note 3) | 704.0 | 233.8 | 212.4 |
| Cash, cash equivalents and restricted cash, end of year (Note 3) | $1,960.1 | $704.0 | $233.8 |
| Year Ended December 31, | |||
|---|---|---|---|
| 2025 | 2024 | 2023 | |
| Supplemental cash flow information: | |||
| Cash paid for interest | $8.9 | $— | $— |
| Cash paid for income taxes | |||
| Federal | $— | $— | $— |
| State | $0.7 | $0.7 | $— |
| Foreign | $— | $— | $— |
| Cash paid for income taxes (net of refunds received) exceeding five percent of total cash paid for incomes taxes (net of refunds received) in the following jurisdictions: | |||
| State: | |||
| Maryland | $0.7 | $0.5 | $— |
| New York | $— | $0.2 | $— |
| Total | $0.7 | $0.7 | $— |
| Non-cash activities: | |||
| Property, plant and equipment included in accounts payable and accrued liabilities | $2.0 | $0.2 | $0.9 |
| Equity-related transaction costs included in accounts payable and accrued liabilities | $0.2 | $— | $— |
| Adjustment to right to use lease assets from lease modification | $1.3 | $— | $(4.2) |
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