Company: SPR
Filing Date: 2025-10-31
Form Type: 10-Q
Source: 0001364885-25-000011
Chunk: 81

Company: Spirit AeroSystems Holdings, Inc.
Filing Date: 2025-10-31
Form: 10-Q
Item: Part I, Item 1
Chunk 81
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-in-process(1)774.0 1,333.7 Finished goods79.1 71.0 Product inventory1,213.9 1,873.4 Capitalized pre-production— 18.3 Total inventory, net$1,213.9 $1,891.7 (1)Work-in-process inventory includes direct labor, direct material, overhead, and purchases on contracts for which revenue is recognized at a point in time as well as sub-assembly parts that have not been issued to production on contracts for which revenue is recognized over time using an input method. For the periods ended October 2, 2025 and December 31, 2024, work-in-process inventory includes $554.3 and $491.8, respectively, of costs incurred in anticipation of specific contracts and no impairments were recorded in the periods.Product inventory, summarized in the table above, is shown net of valuation reserves of $153.5 and $161.5 as of October 2, 2025 and December 31, 2024, respectively.  Excess capacity and abnormal production costs are excluded from inventory and recognized as expense in the period incurred. Cost of sales for the three and nine months ended October 2, 2025 includes period expense of $55.2 and $146.1, respectively, for excess capacity production costs related to temporary B737 MAX and A220 production schedule changes. Cost of sales for the three and nine months ended September 26, 2024 includes period expense of $70.1 and $142.5, respectively, for excess capacity production costs related to temporary B737 MAX and A220 production schedule changes, and ($0.1) and $0.7 of restructuring costs, respectively.

9.  Property, Plant and Equipment, net

 Property, plant and equipment, net consists of the following:  October 2,2025December 31,2024Land$10.7 $28.8 Buildings (including improvements)1,016.4 1,315.7 Machinery and equipment2,060.2 2,513.3 Tooling812.0 1,033.3 Capitalized software340.7 341.5 Construction-in-progress154.5 154.5 Total4,394.5 5,387.1 Less: accumulated depreciation(2,967.3)(3,439.2)Property