Company: SPR
Filing Date: 2025-10-31
Form Type: 10-Q
Source: 0001364885-25-000011
Chunk: 157

Company: Spirit AeroSystems Holdings, Inc.
Filing Date: 2025-10-31
Form: 10-Q
Item: Part I, Item 1
Chunk 157
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(34.4)(34.4)Operating (loss) income$(1,054.8)$95.7 $43.4 $(293.3)$(1,209.0)Interest expense and financing fee amortization— — — (253.3)(253.3)Other expense, net— — — (30.3)(30.3)(Loss) income before income taxes and equity in net income of affiliates$(1,054.8)$95.7 $43.4 $(576.9)$(1,492.6)

(1)During the nine months ended October 2, 2025, the Company completed the sale of its wholly owned subsidiary, Fiber Materials, Inc., and sold its equity in a Chinese joint venture, resulting in net gains of $81.2 million and $1.8 million, respectively. In the second quarter of 2025, the Company also recorded a ($132.5) million loss for a valuation allowance on assets held for sale in relation to the Company’s Airbus Business but reversed that charge in the third quarter of 2025 due to deterioration of the balance sheet. In the third quarter of 2025, the Company recorded a ($109.6) million loss for a valuation allowance on assets held for sale in relation to the Company’s Malaysia Business. These dispositions resulted in a net loss of $26.6 million reflected within (Gain) loss on dispositions of businesses, net in the Condensed Consolidated Statement of Operations for the nine months ended October 2, 2025. See Note 26 Dispositions to our condensed consolidated financial statements included in Item 1 of Part I of this Quarterly Report for additional information. 

Commercial segment, Defense & Space segment, and Aftermarket segment represented approximately 76%, 18%, and 7%, respectively, of our net revenues for the nine months ended October 2, 2025, and approximately 79%, 15%, and 6%, respectively, of our net revenues for the nine months ended September 26, 2024.

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Commercial segment.  Commercial segment net revenues for the nine months ended October 2, 2025 were $3,598.0 million, a decrease of $64.3 million, or (2%), compared to the same period in the prior year. The decrease in revenues was primarily driven by the effect of lower margins on increased Boeing production and lower production on regional jet programs,