Company: SPR
Filing Date: 2025-08-05
Form Type: 10-Q
Source: 0001628280-25-037839
Chunk: 120

Company: Spirit AeroSystems Holdings, Inc.
Filing Date: 2025-08-05
Form: 10-Q
Item: Part I, Item 1
Chunk 120
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-term1.1 Contract liabilities, short-term36.4 Forward loss provision, short-term289.8 Deferred revenue and other deferred credits, short-term82.8 Customer financing, short-term385.1 Other current liabilities35.6 Long-term debt2.6 Operating lease liabilities, long-term13.9 Forward loss provision, long-term537.0 Deferred revenue and other deferred credits, long-term0.1 Deferred grant income liability - non-current1.4 Deferred income taxes27.9 Other non-current liabilities15.9 Total liabilities held for sale$1,769.9 Cumulative translation adjustment asset$22.8 Payables due to Company, net$48.7 Payables due to Company, net, in the table above, represents the net trade balance outstanding between the entities subject to the Airbus Business Disposition, and the remaining Spirit entities, which will not be extinguished upon closing of the Airbus Business Disposition. At that point, such balance will become a third-party payable of the Airbus Business Disposition group and a third-party receivable of the Company. 

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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)

In the second quarter of 2025, the Company recorded a loss of ($132.5) in the loss from business dispositions on the Company’s Condensed Consolidated Statement of Operations representing the difference between the current carrying value of the held for sale group and estimated negative fair value of $580.9, equal to the estimated consideration due from Spirit and its subsidiaries to Airbus, inclusive of adjustments for certain specified advances as defined in the Purchase Agreement. The held-for-sale loss is reflected as a valuation allowance to the disposal group’s long-lived assets. The sale consideration is also subject to additional working capital and other purchase price adjustments at closing, which may alter the overall assumption on fair market value but is unknown as of the end of the second quarter of 2025. Additionally, the loss recorded is subject to change as the carrying value of the disposal group fluctuates due to normal operating activities and transactions. Such changes in carrying value will be reflected as additional losses or gains in future periods to the extent the carrying value more closely represents the consideration.The divestiture of these assets is expected to close concurrently with Spirit Holdings’ previously announced acquisition by The Boeing Company.Fiber Materials, Inc.On