Company: SPR
Filing Date: 2025-05-01
Form Type: 10-Q
Source: 0001628280-25-021582
Chunk: 68

Company: Spirit AeroSystems Holdings, Inc.
Filing Date: 2025-05-01
Form: 10-Q
Item: Part I, Item 1
Chunk 68
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quisitionsAdjustments/OtherCurrency ExchangeApril 3,2025Commercial$296.5 $— $— $0.2 $296.7 Defense & Space$12.1 $— $— $— $12.1 Aftermarket$321.4 $— $— $— $321.4 $630.0 $— $— $0.2 $630.2  

The total goodwill value includes no accumulated impairment loss in any of the periods presented. The Company assesses goodwill for impairment annually or more frequently if events or circumstances indicate that the fair value of a reporting unit that includes goodwill may be lower than its carrying value. For the period ended April 3, 2025, there were no events or circumstances which would require the Company to update its goodwill impairment analysis.  

Intangible assets are summarized as follows:

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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)

April 3,2025December 31,2024Intangible assets  Favorable leasehold interests$2.8 $2.8 Developed technology asset62.0 62.0 Customer relationships intangible asset137.2 137.2 Total intangible assets202.0 202.0 Less: Accumulated amortization - favorable leasehold interest(2.3)(2.2)         Accumulated amortization - developed technology asset(18.3)(17.2)         Accumulated amortization - customer relationship(35.0)(33.1)Intangible assets, net$146.4 $149.5  Amortization expense was $3.1 and $3.8 for the for the three months ended April 3, 2025 and March 28, 2024, respectively.

The amortization for each of the five succeeding years relating to intangible assets currently recorded in the Condensed Consolidated Balance Sheets and the weighted average amortization is estimated to be the following as of April 3, 2025:  YearCustomer relationshipsFavorable leasehold interestDeveloped technologyTotalremaining in 2025$6.0 $0.1 $3.1 $9.2 20268.1 0.1 4.1