Subsequent Event (Notes)

9 Months Ended

Sep. 27, 2018

Subsequent Event [Line Items]

Business Combination Disclosure [Text Block]

23.  Asco Acquisition

On May 1, 2018, the Company and its wholly-owned subsidiary Spirit Belgium entered into the Purchase Agreement pursuant to which Spirit Belgium will purchase all of the issued and outstanding equity of Asco, a leading supplier of high lift wing structures, mechanical assemblies and major functional components to major OEMs and Tier I suppliers in the global commercial aerospace and military markets, for the translated amount of $650.0 in cash, subject to certain customary closing adjustments, including foreign currency adjustments. The definitive agreement is subject to customary closing conditions, including regulatory approvals and customer consents.

One of the closing conditions is receipt of clearance from the European Commission (the “Commission”). During the scope of the Commission’s Phase 1 review, the Commission identified issues that it requires to be addressed regarding the transaction. Consequently, on October 26, 2018, the Company withdrew its notification of the transaction from the Commission in order to address those issues. The withdrawal interrupts the Commission’s current review of the transaction. The Company and Asco will work to refile the notification in a timely manner.

Acquisition-related expenses were $14.8 for the nine months ended September 27, 2018 and are included in selling, general and administrative costs on the condensed and consolidated statements of operations.

The foregoing description of the Purchase Agreement does not purport to be complete and is qualified in its entirety by reference to the description set forth in the Company’s Current Report on Form 8-K filed with the SEC on May 2, 2018, and the full text of the Purchase Agreement, which was filed as an exhibit to the Company's Form 10-Q filed with the SEC on August 1, 2018.