Company: SPR
Filing Date: 2025-08-05
Form Type: 10-Q
Source: 0001628280-25-037839
Chunk: 119

Company: Spirit AeroSystems Holdings, Inc.
Filing Date: 2025-08-05
Form: 10-Q
Item: Part I, Item 1
Chunk 119
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elage sections);•the site of St. Nazaire, France (A350 fuselage sections);•the site of Casablanca, Morocco (A321 and A220 components);•the production of A220 pylons in Wichita, Kansas, U.S.; and•the production of A220 wings and mid-fuselage sections in Belfast, Northern Ireland.On April 27, 2025, and June 27, 2025, the Company gave notice to Airbus SE under the Airbus Purchase Agreement indicating it was abandoning the sale process of a) the assets primarily related to the Airbus SE work packages operated in Spirit’s facilities in Prestwick, Scotland, and b) the assets primarily related to Airbus’ A220 mid-fuselage program in Belfast, Northern Ireland, respectively. Accordingly, under the Purchase Agreement, such assets will be included in the assets to be acquired by Airbus SE, subject to the terms and conditions of the Purchase Agreement.

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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 Airbus production assets in Subang, Malaysia will also be acquired by Airbus if no suitable buyer is identified before the closing of the Airbus Business Disposition. The Company is in the process of evaluating disposal plans for the aforementioned site and has determined that the held for sale criteria for this location have not been met as of July 3, 2025.The net carrying amounts of the assets and liabilities included in the Airbus Business Disposition classified as held for sale in our Condensed Consolidated Balance Sheets as of July 3, 2025, was $448.4 comprised of the following:($ in millions)July 3, 2025AssetsCash and cash equivalents$5.9 Accounts receivable, net186.7 Contract assets, short-term56.1 Inventory, net589.9 Other current assets28.5 Property, plant and equipment, net430.1 Right of use assets14.5 Contract assets, long-term13.8 Pension assets(1.5)Deferred income taxes0.4 Other assets23.0 Less: valuation allowance(132.5)Total assets held for sale$1,214.9 LiabilitiesAccounts payable$281.7 Accrued expenses47.3 Profit sharing7.2 Current portion of long-term debt4.1 Operating lease liabilities, short