Company: SPR
Filing Date: 2025-08-05
Form Type: 10-Q
Source: 0001628280-25-037839
Chunk: 73

Company: Spirit AeroSystems Holdings, Inc.
Filing Date: 2025-08-05
Form: 10-Q
Item: Part I, Item 1
Chunk 73
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 as well as the impact of changes implemented by Boeing in March 2024 to introduce a new product verification process in Wichita, KS. This change in business process delayed delivery acceptances and caused a buildup of undelivered units in Wichita, KS. The decrease in contract liabilities reflects the net impact of less deferred revenues recorded in excess of revenue recognized during the period. The Company recognized $36.6 of revenue that was included in the contract liability balance at the beginning of the period.

7.  Revenue Disaggregation and Outstanding Performance Obligations

Disaggregation of RevenueThe Company disaggregates revenue based on the method of measuring satisfaction of the performance obligation either over time or at a point in time, based upon the location where products and services are transferred to the customer, and based upon major customer. The Company’s principal operating segments and related revenue are noted in Note 23 Segment Information.The following tables show disaggregated revenues for the periods ended July 3, 2025, and June 27, 2024: For the Three Months EndedFor the SixMonths EndedRevenueJuly 3,2025June 27,2024July 3,2025June 27,2024Contracts with performance obligations satisfied over time$1,089.3 $1,053.1 $2,187.3 $2,335.2 Contracts with performance obligations satisfied at a point in time545.8 438.8 969.6 859.5 Total Revenue$1,635.1 $1,491.9 $3,156.9 $3,194.7 The following table disaggregates revenue by major customer:For the Three Months EndedFor the SixMonths EndedCustomerJuly 3,2025June 27,2024July 3,2025June 27,2024Boeing$978.5 $862.3 $1,850.3 $1,950.9 Airbus397.5 337.1 750.0 654.2 Other259.1 292.5 556.6 589.6 Total Revenue$1,635.1 $1,491.9 $3,156.9 $3,194.7 

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