Company: SPR
Filing Date: 2025-10-31
Form Type: 10-Q
Source: 0001364885-25-000011
Chunk: 144

Company: Spirit AeroSystems Holdings, Inc.
Filing Date: 2025-10-31
Form: 10-Q
Item: Part I, Item 1
Chunk 144
---
 all structural aircraft components produced or delivered for one aircraft in such period. Other components that are part of the same aircraft shipsets could be produced or shipped in earlier or later accounting periods than the components used to measure production or shipset deliveries, which may result in slight variations in production or delivery quantities of the various shipset components in any given period. 

55

Net revenues by prime customer were as follows: 

Three Months EndedNine Months EndedPrime CustomerOctober 2,2025September 26,2024October 2,2025September 26,2024($ in millions)($ in millions)Boeing$951.7 $850.7 $2,802.0 $2,801.6 Airbus367.9 299.8 1,117.9 954.0 Other265.8 320.1 822.4 909.7 Total net revenues$1,585.4 $1,470.6 $4,742.3 $4,665.3 

Changes in Estimates

During the quarter ended October 2, 2025, we recognized unfavorable changes in estimates of $599.6 million, which included net forward loss charges of $585.2 million, and unfavorable cumulative catch-up adjustments related to periods prior to the third quarter of 2025 of $14.4 million. The forward losses in the third quarter were primarily driven by schedule changes, increased supply chain cost and overall production cost growth on the B737 program, foreign exchange rates, current production performance and supply chain cost growth on the A350 and A220 programs, and production cost and supply chain cost growth, which includes the Company’s latest estimate for tariffs on the B787 program. The unfavorable cumulative catch-up adjustments primarily relate to increased production cost on the B737 and B777 programs. As referenced above, we utilize a periodic forecasting process to assess the progress and performance of our programs. We may continue to experience forward losses in the future as a result of production schedule impacts from our customers, increases in costs related to persistent inflation, or other factors resulting in cost estimates higher than our original forecast. 

During the same period in the prior year, we recognized total unfavorable changes in estimates of $242.9 million, which included net forward loss charges of $217.2 million, and unfavorable cumulative catch-up adjustments related to periods prior to the third quarter of 2024 of $25.7 million.