Company: SPR
Filing Date: 2025-05-01
Form Type: 10-Q
Source: 0001628280-25-021582
Chunk: 34

Company: Spirit AeroSystems Holdings, Inc.
Filing Date: 2025-05-01
Form: 10-Q
Item: Part I, Item 2
Chunk 34
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-term debt3,954.5 3,961.1 2.2 2.5 Contract liabilities, long-term173.0 177.4 — — Forward loss provision, long-term525.2 497.5 — — Customer financing, long-term731.2 290.0 — 12.0 Other non-current liabilities423.1 342.5 15.1 15.3 Total non-current liabilities$5,807.0 $5,268.5 $17.3 $29.8 

Supply Chain Financing Applicable to Suppliers

We have provided our suppliers with access to a supply chain financing program through facilities with a third-party financing institution. The program allows suppliers to monetize the receivables prior to their payment date, subject to payment of a discount. Our suppliers’ ability to continue using such agreements is primarily dependent upon the strength of our financial condition. During the three months ended April 3, 2025, our financing institution adjusted their capacity resulting in a net increase in capacity under our existing supply chain financing program. While our suppliers’ access to this supply chain financing program could be curtailed if our credit ratings are downgraded, we do not expect that changes in the availability of supply chain financing to our suppliers will have a significant impact on our liquidity. 

The balance of confirmed obligations to suppliers who elected to participate in the supply chain financing program included in our accounts payable balance as of April 3, 2025 and March 28, 2024 was $112.4 million and $137.8 million, respectively. Confirmed obligations to suppliers who elected to participate in the supply chain financing program increased by $35.6 million and decreased by $17.8 million during the three-month periods ended April 3, 2025 and March 28, 2024, respectively. While changes in each period typically reflect trends in purchasing levels from suppliers related to production levels during the applicable period, the increase in the current period as compared to the balance at December 31, 2024 is primarily due to the ongoing realignment in participating suppliers and facility capacity.  

See Note 24 Supplier Financing to our condensed consolidated financial statements included in Item 1 of Part I of this Quarterly Report for more information.

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CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS

You should read the discussion of our financial condition and results of operations in conjunction with the unaud