Company: SPR
Filing Date: 2025-05-01
Form Type: 10-Q
Source: 0001628280-25-021582
Chunk: 64

Company: Spirit AeroSystems Holdings, Inc.
Filing Date: 2025-05-01
Form: 10-Q
Item: Part I, Item 1
Chunk 64
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 excluded from inventory and recognized as expense in the period incurred. Cost of sales for the three months ended April 3, 2025 includes period expense of $46.7 for excess capacity production costs related to temporary B737 MAX and A220 production schedule changes. Cost of sales for the three months ended March 28, 2024 includes period expense of $26.1 for excess capacity production costs related to temporary B737 MAX and A220 production schedule changes.

9.  Property, Plant and Equipment, net

 Property, plant and equipment, net consists of the following:  April 3,2025December 31,2024Land$29.2 $28.8 Buildings (including improvements)1,316.3 1,315.7 Machinery and equipment2,529.2 2,513.3 Tooling1,038.6 1,033.3 Capitalized software342.3 341.5 Construction-in-progress190.0 154.5 Total5,445.6 5,387.1 Less: accumulated depreciation(3,514.7)(3,439.2)Property, plant and equipment, net$1,930.9 $1,947.9  Capitalized interest was $2.5 and $1.2 for the three months ended April 3, 2025 and March 28, 2024, respectively. Repair and maintenance costs are expensed as incurred. The Company recognized repair and maintenance costs of $46.6 and $44.1 for the three months ended April 3, 2025 and March 28, 2024, respectively. 

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Table of ContentsSpirit AeroSystems Holdings, Inc. Notes to the Condensed Consolidated Financial Statements (unaudited)(U.S. Dollars in millions other than per share amounts)

The Company capitalizes certain costs, such as software coding, installation, and testing, that are incurred to purchase or to create and implement internal-use computer software. Depreciation expense related to capitalized software was $1.8 and $4.4 for the three months ended April 3, 2025 and March 28, 2024, respectively. The Company reviews capital and amortizing intangible assets (long-lived assets) for impairment on an annual basis or whenever events or changes in circumstances indicate that the carrying amount may not be recoverable. For the period ended April