v3.25.4
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Cash Flows from Operating Activities      
Net income $ 77.8 $ 73.2 $ 84.4
Adjustments to reconcile net income (loss) to net cash (used in) operating activities:      
Depreciation and amortization 9.9 10.8 7.1
Accrued loss on long-term contract 0.0 0.0 (20.0)
Increase (Decrease) in Deferred Income Taxes (7.4) 0.7 1.6
Retirement benefit plans (gains) losses, net 2.9 (17.3) (24.6)
Revaluation of inventory borrowing 3.6 2.1 7.4
Gain (Loss) on Extinguishment of Debt (11.8) 0.0 0.0
Equity Related Compensation 5.8 1.5 2.3
Amortization of Debt Discount (Premium) 3.4 0.3 0.0
Adjustment to Reconcile Net Income to Cash Provided by (Used in) Operating Activity, Other Item 0.1 (0.2) (1.6)
Changes in operating assets and liabilities:      
Accounts receivable – (increase) decrease 49.2 (30.5) (11.3)
Increase (Decrease) in Inventories (230.0) 101.0 (83.8)
Increase Decrease in Inventories Owed to Suppliers 176.5 (68.1) 23.5
Increase (Decrease) in Other Current Assets 2.2 2.4 14.9
Payables under SWU purchase agreements – increase (decrease) (11.0) (12.4) (1.7)
Deferred revenue, net of deferred costs – increase (decrease) (29.5) (15.1) 12.1
Accounts payable and other liabilities – increase (decrease) 0.4 (1.4) 8.5
Pension and postretirement liabilities - increase (decrease) (5.7) (8.3) (5.7)
Other, net (0.2) (0.3) (0.8)
Net cash used in operating activities 51.0 37.0 9.1
Cash Flows Provided by Investing Activities      
Capital expenditures (19.7) (4.1) (1.6)
Cash Provided by (Used in) Investing Activity, Including Discontinued Operation (19.7) (4.1) (1.6)
Cash Flows Used in Financing Activities      
Proceeds from the sale of common stock, net (523.7) (54.7) (23.2)
Repayments of Debt (3.5) (6.1) (6.1)
Debt Instrument, Repaid, Principal (74.3) 0.0 0.0
Exercise of stock options 0.0 0.4 0.0
Shares withheld for employee taxes (3.4) (0.6) (3.0)
Proceeds from (Payment for) Other Financing Activity 0.0 0.0 (0.2)
Net cash used in financing activities 1,224.9 437.1 13.9
Effect of Exchange Rate on Cash, Cash Equivalent, Restricted Cash, and Restricted Cash Equivalent, Continuing Operation (0.1) 0.2 0.0
Decrease in cash, cash equivalents and restricted cash 1,256.1 470.2 21.4
Cash, cash equivalents and restricted cash, start of period 704.0 233.8 212.4
Cash, cash equivalents and restricted cash, end of period 1,960.1 704.0 233.8
Supplemental Cash Flow Information:      
Proceeds from Convertible Debt 782.4 388.7 0.0
Income Tax Paid, Federal, after Refund Received 0.0 0.0 0.0
Income Tax Paid, State and Local, after Refund Received 0.7 0.7 0.0
Income Tax Paid, Foreign, after Refund Received 0.0 0.0 0.0
Interest Paid, Including Capitalized Interest, Operating and Investing Activities 8.9 0.0 0.0
MARYLAND      
Supplemental Cash Flow Information:      
Income Tax Paid, State and Local, after Refund Received 0.7 0.5 0.0
NEW YORK      
Supplemental Cash Flow Information:      
Income Tax Paid, State and Local, after Refund Received 0.0 0.2 0.0
Property, plant and equipment included in accounts payable and accrued liabilities      
Supplemental Cash Flow Information:      
Other Significant Noncash Transaction, Value of Consideration Given 2.0 0.2 0.9
Other Significant Noncash Transaction, Value of Consideration Given (2.0) (0.2) (0.9)
Adjustment to Right of Use Lease due to Modification [Domain]      
Supplemental Cash Flow Information:      
Other Significant Noncash Transaction, Value of Consideration Given 1.3 0.0 (4.2)
Other Significant Noncash Transaction, Value of Consideration Given (1.3) 0.0 4.2
Equity issuance costs included in accounts payable and accrued liabilities      
Supplemental Cash Flow Information:      
Other Significant Noncash Transaction, Value of Consideration Given 0.2 0.0 0.0
Other Significant Noncash Transaction, Value of Consideration Given $ (0.2) $ 0.0 $ 0.0