Company: SPR
Filing Date: 2025-10-31
Form Type: 10-Q
Source: 0001364885-25-000011
Chunk: 124

Company: Spirit AeroSystems Holdings, Inc.
Filing Date: 2025-10-31
Form: 10-Q
Item: Part I, Item 1
Chunk 124
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4)(34.4)Operating (loss) income$(1,054.8)$95.7 $43.4 $(293.3)$(1,209.0)Interest expense and financing fee amortization— — — (253.3)(253.3)Other expense, net— — — (30.3)(30.3)(Loss) income before income taxes and equity in net income of affiliates$(1,054.8)$95.7 $43.4 $(576.9)$(1,492.6)

(1)During the nine months ended October 2, 2025, the Company completed the sale of its wholly owned subsidiary, Fiber Materials, Inc., and sold its equity in a Chinese joint venture, resulting in net gains of $81.2 and $1.8, respectively. In the second quarter of 2025, the Company also recorded a ($132.5) loss for a valuation allowance on assets held for sale in relation to the Company’s Airbus Business but reversed that charge in the third quarter of 2025 due to deterioration of the balance sheet. In the third quarter of 2025, the Company recorded a ($109.6) loss for a valuation allowance on assets held for sale in relation to the Company’s Malaysia Business. These dispositions resulted in a net loss of $26.6 reflected within (Gain) loss on dispositions of businesses, net in the Condensed Consolidated Statement of Operations for the nine months ended October 2, 2025. See Note 26 Dispositions for additional information.  

24.  Restructuring CostsThere were no restructuring costs for the three and nine months ended October 2, 2025.The Company’s results of operations for the three and nine months ended September 26, 2024 includes restructuring costs related to a reduction in hourly production workforce due to high inventory levels.

Restructuring costs are presented separately as a component of operating loss on the Condensed Consolidated Statements of Operations. The total restructuring costs for the three and nine months ended September 26, 2024 were ($0.1) and $0.7, respectively, which was included in the segment operating margins for the Commercial segment. 

25.  Supplier Financing The Company has provided certain suppliers with access to a supply chain financing program through facilities with a third-party financing institution. The Company’s suppliers’ ability to access the program is primarily dependent upon the strength of the Company