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

Company: Spirit AeroSystems Holdings, Inc.
Filing Date: 2025-08-05
Form: 10-Q
Item: Part I, Item 2
Chunk 10
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, we opted to bypass the qualitative assessment and performed a quantitative assessment to test goodwill for impairment.

As part of our impairment assessment, we utilized a third-party to assist us with estimating the fair value of each of our respective reporting units under both the income approach and the market approach with equal weighing applied to the results of each approach. These approaches require making assumptions regarding long-term growth rates, revenue and earnings projections, estimation of cash flows, discount rates, and market and company-specific factors.

The results of our annual assessment indicated that the fair value substantially exceeded the carrying value for each reporting unit, and as a result, no impairment existed as of the annual assessment date during the fourth quarter of 2024. Further, we have not identified any indications of impairment that would prompt an interim impairment assessment for the quarter ended July 3, 2025.

50

Results of Operations

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

Three Months EndedSix Months EndedJuly 3,2025June 27,2024July 3,2025June 27,2024 ($ in millions)($ in millions)Net revenues$1,635.1 $1,491.9 $3,156.9 $3,194.7 Cost of sales1,866.5 1,725.4 3,849.4 3,863.7 Gross loss(231.4)(233.5)(692.5)(669.0)Selling, general and administrative107.3 83.6 199.1 165.1 Restructuring costs— 0.8 — 0.8 Research and development12.2 13.4 26.7 24.0 Loss on disposition of businesses129.9 — 49.5 — Operating loss(480.8)(331.3)(967.8)(858.9)Interest expense and financing fee amortization(99.4)(82.3)(198.9)(162.5)Other (expense) income, net(24.3)0.4 (44.2)2.7 Loss before income taxes and equity in net income (loss) of affiliates(604.5)(413.2)(1,210.9)(1,018.7)Income tax provision(26.3)(2.1)(32.3)(13.1)L