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

Company: Spirit AeroSystems Holdings, Inc.
Filing Date: 2025-10-31
Form: 10-Q
Item: Part I, Item 2
Chunk 25
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2, 2025 includes $26.2 million for federal taxes, ($1.7) million for state taxes, and $5.2 million for foreign taxes. The income tax provision for the nine months ended September 26, 2024 includes $2.5 million for federal taxes, $2.0 million for state taxes, and $11.4 million for foreign taxes. The effective tax rate for the nine months ended October 2, 2025 is (1.53%) as compared to the (1.07%) for the same period in the prior year. As we are reporting a pre-tax loss for the nine months ended October 2, 2025, an increase in the effective tax rate results in an increase of income tax benefits, while a decrease in the rate results in a reduction of income tax benefits.

The decrease from the U.S. statutory tax rate is attributable primarily to valuation allowances on deferred tax assets.

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Merger Agreement.  Other than transaction expenses associated with the Merger of $72.1 million, the Merger Agreement did not affect the Company’s consolidated financial statements for the nine months ended October 2, 2025. Transaction expenses associated with the Merger were $46.8 million for the same period in the prior year.

Segments.  The following tables show segment revenues and operating loss for the nine months ended October 2, 2025 and September 26, 2024:

Nine Months Ended October 2, 2025CommercialDefense & SpaceAftermarketCorporate and OtherConsolidated($ in millions)Net revenues$3,598.0 $831.1 $313.2 $— $4,742.3 Cost of sales(4,790.9)(838.3)(279.1)— (5,908.3)Excess capacity costs(119.6)(26.5)— — (146.1)Segment operating (loss) income$(1,312.5)$(33.7)$34.1 $— $(1,312.1)Selling, general and administrative— — — (239.6)(239.6)Research and development— — — (36.0)(36.0)Loss on dispositions of businesses, net (1)— — — (26.6)(26.6)Operating (loss) income$(1,312.5)$(33.7)$