Company: SIF
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0000090168-25-000025
Chunk: 6

Company: SIFCO INDUSTRIES INC
Filing Date: 2025-05-15
Form: 10-Q
Item: Part I, Item 1
Chunk 6
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 held for sale. Goodwill and intangible assets are valued using Level 3 inputs. Defined benefit plans can be valued using Level 1, Level 2, Level 3 or a combination of Level 1, 2 and 3 inputs. Retirement Benefit Plans of the 2024 Annual Report for further discussion.

G. Reclassifications

Certain reclassifications have been made to prior-period amounts to conform to current-period reporting classifications. For the six months ended March 31, 2024, the Company revised its classification within the consolidated condensed statements of cash flows by moving the prior period amount for contract liabilities from accrued liabilities to contract liabilities to conform to current period presentation.

2. Discontinued Operations

The Company committed to sell CBlade in August 2024 in order to streamline operations and refocus on its core aerospace forging entities. On August 1, 2024, the Company’s Board of Directors approved and authorized the execution of a share purchase agreement (the “ SPA”), under which SIFCO Irish Holdings, Ltd., a wholly owned subsidiary of the Company, entered into an agreement to sell 100 20,000 13,800

In October 2024, upon regulatory approval, the Company completed the CBlade Sale and received cash consideration of approximately $ 14,516 422

Due to the CBlade Sale, the Company ceased manufacturing operations within the European market, as CBlade represented the last remaining facility in this region. Prior to the transaction, CBlade was directly owned by SIFCO Irish Holdings Inc., a wholly-owned subsidiary of the Company incorporated in Ireland (“ Irish Holdings”), which historically acted as the holding company for the Company's international operations. With the disposal of CBlade, the Company determined that its European operations represented a substantially complete liquidation. Therefore, $ 5,851

attributable to these operations (related to Irish Holdings) was recognized in the statement of operations as a component of the gain on sale of discontinued operations upon the loss of a controlling financial interest in CBlade, which represented in excess of 90

The principal components of the assets and liabilities related to discontinued operations classified as held for sale as of September 30, 2024 were as follows:

                                                    September 30, 2024              
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  ASSETS                                                                            
  Current assets:                                                                   
  Cash and cash equivalents                         $                        1,009  
  Short-term investments                                                     1