Condensed Consolidating Financial Information (Tables)

3 Months Ended

Mar. 31, 2016

Condensed Financial Information of Parent Company Only Disclosure [Abstract]

Condensed Income Statement

Condensed Consolidating Statements of Operations

For the Three Months Ended March 31, 2016

	Holdings			Spirit			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Consolidating Adjustments			Total
Net revenues	$	—		$	1,510.5		$	95.0		$	215.9		$	(139.8	)	$	1,681.6
Operating costs and expenses
Cost of sales	—			1,214.4			91.7			192.7			(139.8		)	1,359.0
Selling, general and administrative	1.5			44.2			0.7			3.6			—			50.0
Research and development	—			5.0			0.5			0.6			—			6.1
Total operating costs and expenses	1.5			1,263.6			92.9			196.9			(139.8		)	1,415.1
Operating (loss) income	(1.5		)	246.9			2.1			19.0			—			266.5
Interest expense and financing fee amortization	—			(11.3		)	—			(2.1		)	2.0			(11.4		)
Other income (expense), net	—			3.9			—			(4.1		)	(2.0		)	(2.2		)
(Loss) income before income taxes and equity in net income of affiliate and subsidiaries	(1.5		)	239.5			2.1			12.8			—			252.9
Income tax benefit (provision)	0.5			(78.7		)	(0.8		)	(2.9		)	—			(81.9		)
(Loss) income before equity in net income of affiliate and subsidiaries	(1.0		)	160.8			1.3			9.9			—			171.0
Equity in net income of affiliate	0.6			—			—			0.6			(0.6		)	0.6
Equity in net income of subsidiaries	172.0			11.2			—			—			(183.2		)	—
Net income	171.6			172.0			1.3			10.5			(183.8		)	171.6
Other comprehensive (loss) income	(8.0		)	(8.0		)	—			(8.8		)	16.8			(8.0		)
Comprehensive income (loss)	$	163.6		$	164.0		$	1.3		$	1.7		$	(167.0	)	$	163.6

Condensed Consolidating Statements of Operations

For the Three Months Ended April 2, 2015

	Holdings			Spirit			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Consolidating Adjustments			Total
Net revenues	$	—		$	1,619.0		$	58.1		$	186.2		$	(121.1	)	$	1,742.2
Operating costs and expenses
Cost of sales	—			1,352.0			54.8			162.6			(121.1		)	1,448.3
Selling, general and administrative	2.6			45.2			1.3			2.5			—			51.6
Research and development	—			6.3			—			0.7			—			7.0
Total operating costs and expenses	2.6			1,403.5			56.1			165.8			(121.1		)	1,506.9
Operating (loss) income	(2.6		)	215.5			2.0			20.4			—			235.3
Interest expense and financing fee amortization	—			(17.8		)	—			(2.0		)	1.9			(17.9		)
Other income (expense), net	—			1.4			0.1			(6.0		)	(1.9		)	(6.4		)
(Loss) income before income taxes and equity in net income of affiliate and subsidiaries	(2.6		)	199.1			2.1			12.4			—			211.0
Income tax benefit (provision)	0.3			(27.1		)	(0.8		)	(1.8		)	—			(29.4		)
(Loss) income before equity in net income of affiliate and subsidiaries	(2.3		)	172.0			1.3			10.6			—			181.6
Equity in net income of affiliate	0.3			—			—			0.3			(0.3		)	0.3
Equity in net income of subsidiaries	183.9			11.9			—			—			(195.8		)	—
Net income	181.9			183.9			1.3			10.9			(196.1		)	181.9
Other comprehensive (loss) income	(14.0		)	1.1			—			(15.1		)	14.0			(14.0		)
Comprehensive income (loss)	$	167.9		$	185.0		$	1.3		$	(4.2	)	$	(182.1	)	$	167.9

Condensed Balance Sheet

Condensed Consolidating Balance Sheet

March 31, 2016

	Holdings		Spirit		Guarantor Subsidiaries		Non-Guarantor Subsidiaries		Consolidating Adjustments			Total
Current assets
Cash and cash equivalents	$	—	$	796.3	$	—	$	26.6	$	—		$	822.9
Accounts receivable, net	—		798.0		35.9		211.8		(362.5		)	683.2
Inventory, net	—		1,281.2		175.2		351.6		—			1,808.0
Other current assets	—		21.4		2.3		3.8		—			27.5
Total current assets	—		2,896.9		213.4		593.8		(362.5		)	3,341.6
Property, plant and equipment, net	—		1,393.0		366.2		188.0		—			1,947.2
Pension assets, net	—		229.5		—		13.2		—			242.7
Investment in subsidiary	460.8		283.7		—		—		(744.5		)	—
Equity in net assets of subsidiaries	1,659.9		257.1		—		—		(1,917.0		)	—
Other assets	—		480.5		82.1		21.3		(328.5		)	255.4
Total assets	$	2,120.7	$	5,540.7	$	661.7	$	816.3	$	(3,352.5	)	$	5,786.9
Current liabilities
Accounts payable	$	—	$	573.8	$	283.4	$	151.1	$	(362.5	)	$	645.8
Accrued expenses	—		190.4		1.0		34.1		—			225.5
Profit sharing	—		17.7		—		0.7		—			18.4
Current portion of long-term debt	—		39.9		—		3.0		—			42.9
Advance payments, short-term	—		192.5		—		—		—			192.5
Deferred revenue, short-term	—		309.2		—		2.9		—			312.1
Deferred grant income liability - current	—		—		11.4		1.2		—			12.6
Other current liabilities	—		85.9		—		2.8		—			88.7
Total current liabilities	—		1,409.4		295.8		195.8		(362.5		)	1,538.5
Long-term debt	—		1,074.3		—		257.6		(248.5		)	1,083.4
Advance payments, long-term	—		452.9		—		—		—			452.9
Pension/OPEB obligation	—		70.2		—		—		—			70.2
Deferred grant income liability - non-current	—		—		52.5		25.7		—			78.2
Deferred revenue and other deferred credits	—		167.7		—		4.7		—			172.4
Other liabilities	—		325.5		—		25.1		(80.0		)	270.6
Total equity	2,120.7		2,040.7		313.4		307.4		(2,661.5		)	2,120.7
Total liabilities and shareholders’ equity	$	2,120.7	$	5,540.7	$	661.7	$	816.3	$	(3,352.5	)	$	5,786.9

Condensed Consolidating Balance Sheet

December 31, 2015

	Holdings		Spirit		Guarantor Subsidiaries		Non-Guarantor Subsidiaries		Consolidating Adjustments			Total
Current assets
Cash and cash equivalents	$	—	$	894.2	$	—	$	63.1	$	—		$	957.3
Accounts receivable, net	—		686.3		27.1		189.4		(365.8		)	537.0
Inventory, net	—		1,229.0		179.4		365.9		0.1			1,774.4
Other current assets	—		24.4		1.9		4.1		—			30.4
Total current assets	—		2,833.9		208.4		622.5		(365.7		)	3,299.1
Property, plant and equipment, net	—		1,393.1		364.2		193.4		—			1,950.7
Pension assets, net	—		233.3		—		13.6		—			246.9
Investment in subsidiary	623.6		283.7		—		0.1		(907.4		)	—
Equity in net assets of subsidiaries	1,496.4		254.1		—		—		(1,750.5		)	—
Other assets	—		517.7		82.7		21.3		(340.9		)	280.8
Total assets	$	2,120.0	$	5,515.8	$	655.3	$	850.9	$	(3,364.5	)	$	5,777.5
Current liabilities
Accounts payable	$	—	$	538.2	$	276.4	$	169.4	$	(365.8	)	$	618.2
Accrued expenses	—		195.0		0.5		34.7		—			230.2
Profit sharing	—		58.3		—		3.3		—			61.6
Current portion of long-term debt	—		32.9		—		2.7		—			35.6
Advance payments, short-term	—		178.3		—		—		—			178.3
Deferred revenue, short-term	—		281.7		—		3.8		—			285.5
Deferred grant income liability - current	—		—		10.8		1.1		—			11.9
Other current liabilities	—		34.7		—		3.0		—			37.7
Total current liabilities	—		1,319.1		287.7		218.0		(365.8		)	1,459.0
Long-term debt	—		1,088.0		—		270.6		(261.0		)	1,097.6
Advance payments, long-term	—		507.4		—		—		—			507.4
Pension/OPEB obligation	—		67.7		—		—		—			67.7
Deferred grant income liability - non-current	—		—		55.6		26.7		—			82.3
Deferred revenue and other deferred credits	—		165.6		—		4.4		—			170.0
Other liabilities	—		328.2		—		25.3		(80.0		)	273.5
Total equity	2,120.0		2,039.8		312.0		305.9		(2,657.7		)	2,120.0
Total liabilities and shareholders’ equity	$	2,120.0	$	5,515.8	$	655.3	$	850.9	$	(3,364.5	)	$	5,777.5

Condensed Cash Flow Statement

Condensed Consolidating Statements of Cash Flows

For the Three Months Ended March 31, 2016

	Holdings			Spirit			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Consolidating Adjustments		Total
Operating activities
Net cash provided by (used in) operating activities	$	—		$	101.5		$	7.1		$	(14.8	)	$	—	$	93.8
Investing activities
Purchase of property, plant and equipment	—			(37.3		)	(7.1		)	(6.0		)	—		(50.4		)
Net cash used in investing activities	—			(37.3		)	(7.1		)	(6.0		)	—		(50.4		)
Financing activities
Principal payments of debt	—			(6.7		)	—			(0.8		)	—		(7.5		)
Collection on (repayment of) intercompany debt	—			12.5			—			(12.5		)	—		—
Taxes paid related to net share settlement of awards	—			(2.9		)	—			—			—		(2.9		)
Excess tax benefits from share-based payment arrangements	—			0.2			—			—			—		0.2
Proceeds (payments) from subsidiary for purchase of treasury stock	165.2			(165.2		)	—			—			—		—
Purchase of treasury stock	(165.2		)	—			—			—			—		(165.2		)
Net cash used in financing activities	—			(162.1		)	—			(13.3		)	—		(175.4		)
Effect of exchange rate changes on cash and cash equivalents	—			—			—			(2.4		)	—		(2.4		)
Net decrease in cash and cash equivalents for the period	—			(97.9		)	—			(36.5		)	—		(134.4		)
Cash and cash equivalents, beginning of period	—			894.2			—			63.1			—		957.3
Cash and cash equivalents, end of period	$	—		$	796.3		$	—		$	26.6		$	—	$	822.9

Condensed Consolidating Statements of Cash Flows

For the Three Months Ended April 2, 2015

	Holdings		Spirit			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Consolidating Adjustments		Total
Operating activities
Net cash provided by operating activities	$	—	$	408.4		$	9.7		$	5.6		$	—	$	423.7
Investing activities
Purchase of property, plant and equipment	—		(26.1		)	(9.7		)	(4.5		)	—		(40.3		)
Net cash used in investing activities	—		(26.1		)	(9.7		)	(4.5		)	—		(40.3		)
Financing activities
Proceeds from issuance of debt	—		535.0			—			—			—		535.0
Principal payments of debt	—		(6.7		)	—			(0.8		)	—		(7.5		)
Payments on term loan	—		(534.9		)	—			—			—		(534.9		)
Collection on (repayment of) intercompany debt	—		(2.0		)	—			2.0			—		—
Debt issuance and financing costs	—		(4.7		)	—			—			—		(4.7		)
Net cash (used in) provided by financing activities	—		(13.3		)	—			1.2			—		(12.1		)
Effect of exchange rate changes on cash and cash equivalents	—		—			—			0.3			—		0.3
Net increase in cash and cash equivalents for the period	—		369.0			—			2.6			—		371.6
Cash and cash equivalents, beginning of period	—		354.6			—			23.3			—		377.9
Cash and cash equivalents, end of period	$	—	$	723.6		$	—		$	25.9		$	—	$	749.5