Company: SPR
Filing Date: 2025-02-28
Form Type: 10-K
Source: 0001628280-25-009088
Chunk: 141

Company: Spirit AeroSystems Holdings, Inc.
Filing Date: 2025-02-28
Form: 10-K
Item: Item 7
Chunk 141
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$6,047.9 Cost of sales(4,627.3)(736.4)(293.9)— (5,657.6)Excess capacity costs(177.3)(6.8)— — (184.1)Segment gross profit$80.4 $45.8 $80.0 $— $206.2 Restructuring costs(6.3)(0.9)— — (7.2)Other operating (expense) income (2)(8.1)(0.2)2.4 — (5.9)Segment operating income (1)$66.0 $44.7 $82.4 $— $193.1 Selling, general and administrative— — — (281.9)(281.9)Research and development— — — (45.4)(45.4)Operating income (loss)$66.0 $44.7 $82.4 $(327.3)$(134.2)Interest expense and financing fee amortization— — — (318.7)(318.7)Other expense, net— — — (140.4)(140.4)Income (loss) before income taxes and equity in net loss of affiliates$66.0 $44.7 $82.4 $(786.4)$(593.3)

(1)Inclusive of forward losses, changes in estimate on loss programs and cumulative catch-up adjustments. These changes in estimates for the periods ended December 31, 2024 and 2023 are further detailed in Note 6, Changes in Estimates. 

(2)The twelve months ended December 31, 2023 includes charges of $8.1 million and $0.2 million related to the temporary production pause for the Commercial and Defense & Space Segments, respectively, and ($2.4) million of benefit related to related to the settlement of a contingent consideration obligation related to a prior year acquisition for the Aftermarket Segment. 

The Commercial, Defense & Space, and Aftermarket segments represented approximately 78%, 15%, and 7%, respectively, of our net revenues for the twelve months ended December 31, 2024. The Commercial, Defense & Space, and Aftermarket segments represented approximately 81%, 13%, and 6%, respectively, of our net revenues for the twelve months