Company: SPR
Filing Date: 2025-05-01
Form Type: 10-Q
Source: 0001628280-25-021582
Chunk: 28

Company: Spirit AeroSystems Holdings, Inc.
Filing Date: 2025-05-01
Form: 10-Q
Item: Part I, Item 2
Chunk 28
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 increase in net cash outflow of $3.9 million compared to a net cash outflow of $415.6 million for the same period in the prior year. The increase in net cash outflow, period over period, primarily represents net negative changes in working capital partially offset by a favorable reduction in contract assets.  

Investing Activities. For the three months ended April 3, 2025, we had a net cash inflow of $107.9 million for investing activities, an increase in net cash inflow of $136.6 million compared to a net cash outflow of $28.7 million for the same period in the prior year. The cash flows for investing activities in the current period were driven by the receipts from the sale of the FMI and Chinese joint venture businesses.

Financing Activities. For the three months ended April 3, 2025, we had a net cash outflow of $1.1 million for financing activities, an decrease in net cash outflow of $20.4 million, compared to a net cash outflow of $21.5 million for the same period in the prior year. The decrease in net cash outflow was primarily driven by the receipts of additional customer financing in the current year partially offset by the maturing of the 2025 Notes in January 2025. During the three month periods ended April 3, 2025 and March 28, 2024, we did not pay any dividends. There were no repurchases of Holdings Common Stock under our share repurchase program during either the three months ended April 3, 2025 or March 28, 2024. 

Pension and Other Post-Retirement Benefit Obligations

 Effective October 1, 2021, we spun off a portion of the existing Pension Value Plan (“PVP A”), to a new plan called PVP B (“PVP B”). As part of the PVP B plan termination process, a lump sum offering was provided during 2021 for PVP B participants and the final asset distribution was completed in the first quarter of 2022. At April 3, 2025 and December 31, 2023, an excess pension plan asset reversion of $21.1 million and $41.2 million, respectively, is recorded on the Restricted plan assets 

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line item on the Company’s Condensed Consolidated Balance Sheets. Restricted plan assets are expected to be reduced over four years as they are distributed to employees under a