Company: SPR
Filing Date: 2025-02-28
Form Type: 10-K
Source: 0001628280-25-009088
Chunk: 133

Company: Spirit AeroSystems Holdings, Inc.
Filing Date: 2025-02-28
Form: 10-K
Item: Item 7
Chunk 133
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 tax provision or benefit based on the pre-tax income earned or net loss incurred in each tax jurisdiction and the tax rate applicable to that income or loss. In the ordinary course of business, there are transactions for which the ultimate tax outcome is uncertain. These uncertainties are accounted for in accordance with FASB authoritative guidance on accounting for the uncertainty in income taxes. The final tax outcome for these matters may be different than management’s original estimates made in determining the income tax provision. A change to these estimates could impact the effective tax rate and net income or loss in subsequent periods. We use the flow-through accounting method for tax credits. Under this method, tax credits reduce income tax expense. See Note 21 to the Consolidated Financial Statements, Income Taxes, for further discussion.

Results of Operations

The following table sets forth, for the periods indicated, certain of our operating data:

Twelve Months EndedDecember 31, 2024 (1)December 31, 2023 (1)(2)December 31, 2022 (2) ($ in millions)Net revenues$6,316.6 $6,047.9 $5,029.6 Cost of sales7,689.0 5,841.7 4,981.0 Gross loss(1,372.4)206.2 48.6 Selling, general and administrative365.5 281.9 279.2 Restructuring costs0.7 7.2 0.2 Research and development47.5 45.4 50.4 Other operating expense— 5.9 — Operating loss(1,786.1)(134.2)(281.2)Interest expense and financing fee amortization(353.5)(318.7)(244.1)Other expense, net(2.0)(140.4)(14.1)Loss before income taxes and equity in net income (loss) of affiliates(2,141.6)(593.3)(539.4)Income tax benefit (provision)2.4 (22.5)(5.2)Loss before equity in net income (loss) of affiliates(2,139.2)(615.8)(544.6)Equity in net income (loss) of affiliates0.2 (0.3)(1.6)Net loss$(2,139.0)$(616.1)$(546.2)Less noncont