Company: SPR
Filing Date: 2025-05-01
Form Type: 10-Q
Source: 0001628280-25-021582
Chunk: 101

Company: Spirit AeroSystems Holdings, Inc.
Filing Date: 2025-05-01
Form: 10-Q
Item: Part I, Item 1
Chunk 101
---
ensed Consolidated Balance Sheets. As of April 3, 2025, the balance of confirmed obligations outstanding was $112.4, an increase of $35.6 as compared to the balance as of December 31, 2024 of $76.8. In the comparable prior year period, confirmed obligations outstanding were $137.8 as of March 28, 2024, a decrease of $17.8 over the balance as of December 31, 2023. While changes in each period typically reflect trends in purchasing levels from suppliers related to production levels during the applicable period, the increase in the current period is primarily due to the ongoing realignment in participating suppliers and facility capacity.  

25.  DispositionsFiber Materials, Inc.On November 17, 2024, the Company entered into a definitive agreement to sell FMI, which operated in the Company’s Defense & Space segment, for $165.0, subject to customary purchase price adjustments and closing conditions as set forth in the definitive agreement. The transaction closed on January 13, 2025 and the Company received net proceeds of $160.1 related to the sale and recorded a net gain of $78.5 reflected within (Gain) on dispositions of businesses on the Company’s Condensed Consolidated Statement of Operations for the three months ended April 3, 2025. The carrying amounts of the assets and liabilities of FMI classified as held for sale as of December 31, 2024 were as follows:($ in millions)December 31, 2024AssetsAccounts receivable, net$9.8 Contract assets, short-term24.6 Inventory, net7.3 Other current assets1.3 Property, plant and equipment, net22.6 Right of use assets2.4 Goodwill1.1 Intangible assets, net31.5 Total assets held for sale$100.6 LiabilitiesAccounts payable$1.2 Accrued expenses3.5 Profit sharing2.2 Operating lease liabilities, short-term0.2 Contract liabilities, short-term6.4 Operating lease liabilities, long-term2.3 Deferred income taxes3.0 Total liabilities held for sale$18.8 Chinese Joint Venture

On March 5, 2025, the Company sold its equity in a Chinese joint venture and received net proceeds of $2.5 related to the sale and recorded a net gain $1.8 reflected