Held for Sale

3 Months Ended

Mar. 31, 2026

Discontinued Operations and Disposal Groups [Abstract]

During the fourth quarter of 2025, we announced that we will commence a strategic review of the Amelia Earhart Drive facility in Salt Lake City. This review is expected to be completed by the end of 2026, and management expects the review to result in a sale of the facility, including the CH-53K contract work.

As of December 31, 2025, the Company determined that the Amelia Earhart Drive facility met held-for-sale accounting criteria. Accordingly, the facility's assets and liabilities were classified as held-for-sale in the consolidated balance sheets for all periods presented. Upon classification as held for sale, the Company ceased depreciation and amortization of the related long-lived assets in accordance with applicable accounting guidance.

The following table presents the assets and liabilities classified as held-for-sale at March 31, 2026 and December 31, 2025:


(in thousands)	March 31, 2026		December 31, 2025
Accounts receivable, net	$	22,311	$	27,159
Contract assets, net	76,930		68,550
Inventories	13,190		16,422
Prepaid expenses and other current assets	647		697
Property, plant and equipment, net	94,147		93,525
Intangibles, net	13,384		13,384
Goodwill	21,829		21,829
Other assets	51,582		52,217
Total assets held for sale	$	294,020	$	293,783

Accounts payable	$	17,991	$	16,408
Accrued liabilities	108,398		115,448
Other noncurrent liabilities	58,936		59,724
Deferred income taxes	11,743		11,743
Total liabilities held for sale	$	197,068	$	203,323