Company: SPR
Filing Date: 2025-10-31
Form Type: 10-Q
Source: 0001364885-25-000011
Chunk: 76

Company: Spirit AeroSystems Holdings, Inc.
Filing Date: 2025-10-31
Form: 10-Q
Item: Part I, Item 1
Chunk 76
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 Additionally, the Company maintained a higher cost profile for an expected increase in production rates that was delayed due to the FAA’s imposed limitation on Boeing increasing its production rates, and production cost overruns on the A320 program.

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Table of ContentsSpirit AeroSystems Holdings, Inc. Notes to the Condensed Consolidated Financial Statements (unaudited)(U.S. Dollars in millions other than per share amounts)

Changes in estimates are summarized below:  

For the Three Months EndedFor the Nine Months EndedChanges in EstimatesOctober 2, 2025September 26, 2024October 2, 2025September 26, 2024(Unfavorable) Favorable Cumulative Catch-up Adjustment by SegmentCommercial$(10.5)$(37.5)$(25.3)$(89.0)Defense & Space(3.9)11.8 0.7 10.9 Aftermarket— — — — Total (Unfavorable) Favorable Cumulative Catch-up Adjustment$(14.4)$(25.7)$(24.6)$(78.1)Changes in Estimates on Loss Programs (Forward Loss) by SegmentCommercial$(577.7)$(212.9)$(1,032.6)$(918.9)Defense & Space(7.5)(4.3)(65.4)(7.2)Aftermarket— — — — Total Changes in Estimates (Forward Loss) on Loss Programs$(585.2)$(217.2)$(1,098.0)$(926.1)Total Change in Estimate$(599.6)$(242.9)$(1,122.6)$(1,004.2)EPS Impact (diluted per share based upon applicable forecasted effective tax rate)$(5.18)$(2.09)$(9.70)$(8.70) 

5.  Accounts Receivable and Allowance for Credit Losses

Accounts Receivable, netAccounts receivable represents the Company’s unconditional rights to consideration, subject to the payment terms of the contract, for which only the passage of time is required before payment. Unbilled receivables are reflected under contract assets on the Condensed Consolidated Balance Sheets. See also Allowance for Credit Losses, below.Accounts receivable, net consists of the following:October 2,2025December 31,2024Trade receivables$299.0 $371.9