Sale of NAC Subsidiary

6 Months Ended

Jun. 30, 2013

Discontinued Operation, Additional Disclosures [Abstract]

Sale of NAC Subsidiary

SALE OF NAC SUBSIDIARY

On January 23, 2013, USEC entered into a stock purchase agreement (the “Stock Purchase Agreement”) with Hitz Holdings U.S.A. Inc. (“Hitz”), a subsidiary of Hitachi Zosen Corporation (“Hitachi Zosen”). Pursuant to the Stock Purchase Agreement, on March 15, 2013, Hitz acquired all of the outstanding shares of USEC’s wholly-owned subsidiary NAC International, Inc. (“NAC”).  NAC was acquired by USEC in 2004 and provides transportation and storage systems for spent nuclear fuel and provides nuclear and energy consulting services. USEC recorded a gain on the sale of $35.6 million in the first quarter of 2013, representing the final sale proceeds of $43.2 million (including $3.3 million received in the second quarter of 2013) less the net carrying amount of NAC assets and liabilities of $5.5 million (including goodwill of $6.8 million) and transaction costs of $2.1 million.

The following financial information related to NAC is segregated from continuing operations and reported as discontinued operations (in millions). Results for 2013 are through the date of divestiture of March 15, 2013.

	Three Months Ended   June 30,				Six Months Ended   June 30,
	2013		2012		2013		2012
Revenue	$	—	$	11.0	$	13.7	$	30.5
Cost of sales	—		8.9		11.8		26.3
Gross profit	—		2.1		1.9		4.2
Advanced technology costs	—		0.3		—		0.4
Selling, general and administrative	—		1.6		1.8		2.9
Operating income	—		0.2		0.1		0.9
Gain on sale of subsidiary	—		—		35.6		—
Income before income taxes	—		0.2		35.7		0.9
Provision for income taxes	—		0.1		14.0		0.3
Net income from discontinued operations	$	—	$	0.1	$	21.7	$	0.6