Company: SPR
Filing Date: 2025-10-31
Form Type: 10-Q
Source: 0001364885-25-000011
Chunk: 86

Company: Spirit AeroSystems Holdings, Inc.
Filing Date: 2025-10-31
Form: 10-Q
Item: Part I, Item 1
Chunk 86
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 atSegmentDecember 31,2024AcquisitionsAssets Held for SaleAdjustments/OtherCurrency ExchangeOctober 2,2025Commercial$296.5 $— $(6.2)$— $0.2 $290.5 Defense & Space12.1 — — — — 12.1 Aftermarket321.4 — — — — 321.4 $630.0 $— $(6.2)$— $0.2 $624.0  

The total goodwill value includes no accumulated impairment loss in any of the periods presented. The Company assesses goodwill for impairment annually or more frequently if events or circumstances indicate that the fair value of a reporting unit that includes goodwill may be lower than its carrying value. For the period ended October 2, 2025, there were no events or circumstances which would require the Company to update its goodwill impairment analysis.  

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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)

Intangible assets are summarized as follows:October 2,2025December 31,2024Intangible assets  Favorable leasehold interests$2.8 $2.8 Developed technology asset62.0 62.0 Customer relationships intangible asset137.2 137.2 Total intangible assets202.0 202.0 Less: Accumulated amortization - favorable leasehold interest(2.3)(2.2)         Accumulated amortization - developed technology asset(20.3)(17.2)         Accumulated amortization - customer relationship(61.9)(33.1)Intangible assets, net$117.5 $149.5  

Amortization expense was $2.6 and $3.8 for the for the three months ended October 2, 2025 and September 26, 2024, respectively, and $8.8 and $11.4 for the nine months ended October 2, 2025 and September 26, 2024, respectively. During the nine months ended October 2, 2025, as a result of entering into the Purchase Agreement with Airbus in April 2025, the Company recorded $23.2 of intangible asset impairment charges on the customer relationship intangible assets