Company: SPR
Filing Date: 2025-08-05
Form Type: 10-Q
Source: 0001628280-25-037839
Chunk: 121

Company: Spirit AeroSystems Holdings, Inc.
Filing Date: 2025-08-05
Form: 10-Q
Item: Part I, Item 1
Chunk 121
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 November 17, 2024, the Company entered into a definitive agreement to sell FMI, which operated in the Company’s Defense & Space segment, for $165.0, subject to customary purchase price adjustments and closing conditions as set forth in the definitive agreement. The transaction closed on January 13, 2025 and the Company received net proceeds of $164.6 related to the sale and recorded a net gain of $81.2 reflected within Loss on dispositions of businesses, net on the Company’s Condensed Consolidated Statement of Operations during the six months ended July 3, 2025.The carrying amounts of the assets and liabilities of FMI classified as held for sale as of December 31, 2024 were as follows:($ in millions)December 31, 2024AssetsAccounts receivable, net$9.8 Contract assets, short-term24.6 Inventory, net7.3 Other current assets1.3 Property, plant and equipment, net22.6 Right of use assets2.4 Goodwill1.1 Intangible assets, net31.5 Total assets held for sale$100.6 LiabilitiesAccounts payable$1.2 Accrued expenses3.5 Profit sharing2.2 Operating lease liabilities, short-term0.2 Contract liabilities, short-term6.4 Operating lease liabilities, long-term2.3 Deferred income taxes3.0 Total liabilities held for sale$18.8 Chinese Joint VentureOn March 5, 2025, the Company sold its equity in a Chinese joint venture and received net proceeds of $2.5 related to the sale and recorded a net gain $1.8 reflected within Loss on dispositions of businesses, net on the Company’s Condensed Consolidated Statement of Operations for the six months ended July 3, 2025.

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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)

27.  Subsequent EventsOn July 4, 2025, the OBBBA was signed into law in the United States. The OBBBA includes a broad range of business tax reform provisions including enhanced deductibility of bonus depreciation, domestic research costs, and interest expense, as well as various changes to U.S. taxability of non-U.S. operations. While we are continuing to assess the impact of