Company: SPR
Filing Date: 2025-08-05
Form Type: 10-Q
Source: 0001628280-25-037839
Chunk: 118

Company: Spirit AeroSystems Holdings, Inc.
Filing Date: 2025-08-05
Form: 10-Q
Item: Part I, Item 1
Chunk 118
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 capacity of the program is limited to $168.3 based on current limits with our third-party financing institution. If a supplier’s request exceeds the program limit, then it will be honored when capacity is available. Under the supply chain financing program, the Company agrees to pay the third-party financing institution the stated amount of confirmed invoices from its designated suppliers on the original maturity dates of the invoices, and suppliers have the ability to be paid from the third-party financing institution on an accelerated basis. The Company’s suppliers’ election to sell one or more of the Company’s confirmed obligations under the supply chain financing program is optional. The Company’s responsibility is limited to making payment on the terms originally negotiated with its suppliers for up to 120 days, regardless of whether the suppliers elect to sell their receivables to the third-party financing institution. Within the current population of qualified suppliers, there are no payment discounts offered or taken at any point by the financing institution or by the Company. The Company or the third-party financing institution may terminate the agreement upon at least 45 days’ notice.

The balance of confirmed obligations outstanding to suppliers who elect to participate in the supply chain financing program is included in the Company’s Accounts payable balance on the Company’s Condensed Consolidated Balance Sheets. As of July 3, 2025, the balance of confirmed obligations outstanding was $105.6, an increase of $28.8 as compared to the balance as of December 31, 2024 of $76.8. In the comparable prior year period, confirmed obligations outstanding were $115.7 as of June 27, 2024, a decrease of $39.9 over the balance as of December 31, 2023. The changes in the current and prior periods are consistent with purchasing activity and the mix of various suppliers that have varying requirements for such financing. 

26.  DispositionsAirbus BusinessOn April 27, 2025, the Company entered into the Airbus Purchase Agreement with Airbus SE to transfer ownership of certain assets and sites involved in the Airbus Business Disposition. Airbus SE will be compensated by payment of $439.0 in cash from the Company, in addition to settling the Airbus Loan Arrangements amount of $141.9 as defined in the Airbus Purchase Agreement. The sale consideration is also subject to other purchase price adjustments and closing conditions.At the closing of this transaction, Airbus SE will take ownership of the following Spirit AeroSystems assets:•the site of Kinston, North Carolina, U.S. (A350 fus