Company: SPR
Filing Date: 2025-08-05
Form Type: 10-Q
Source: 0001628280-25-037839
Chunk: 67

Company: Spirit AeroSystems Holdings, Inc.
Filing Date: 2025-08-05
Form: 10-Q
Item: Part I, Item 1
Chunk 67
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 Expense Disaggregation Disclosures which requires disclosure of disaggregated information about certain income statement expense line items in the notes to the financial statements on an interim and annual basis. ASU 2024-03 will be effective for the annual reporting periods in fiscal years beginning after December 15, 2026, with early adoption permitted. The Company is currently evaluating the impact that the adoption of ASU 2024-03 will have on its consolidated financial statements.

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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)

In November 2024, the FASB issued ASU No. 2024-04, Debt - Debt with Conversion and Other Options which clarifies the requirements for determining whether certain settlements of convertible debt instruments should be accounted for as an induced conversion. ASU 2024-04 is effective for annual reporting periods beginning after December 15, 2025, and interim reporting periods within those annual reporting periods. Early adoption is permitted for all entities that have adopted the amendments in ASU 2020-06. The Company is currently evaluating the impact of this amendment on its consolidated financial statements.In May 2025, the FASB issued ASU No. 2025-03, Business Combinations and Consolidation - Determining the Accounting Acquirer in the Acquisition of a Variable Interest Entity which revises current guidance for determining the acquirer for a transaction effected primarily by exchanging equity interests in which the legal acquiree is a variable interest entity that meets the definition of a business. ASU 2024-04 is effective for annual reporting periods beginning after December 15, 2026, and interim reporting periods within those annual reporting periods. The new guidance will be applied prospectively to any acquisition transaction that occurs after the initial application date. The Company is currently evaluating the impact of this amendment on its consolidated financial statements.In May 2025, the FASB issued ASU No. 2025-04, Compensation - Stock Compensation and Revenue from Contracts with Customers - Clarifications to Share-Based Consideration Payable to a Customer which applies to entities that issue share-based consideration to customers. The new guidance requires the grantor to evaluate any vesting conditions when determining revenue recognition from customers that have been granted share-based consideration. ASU 2024-04 is effective for annual reporting periods beginning after December 15, 2026, and interim reporting periods