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Related Party Transactions
 6 Months Ended
Jun. 27, 2013
Related Party Transactions [Abstract]  
Related Party Transactions

20. Related Party Transactions

 

On May 3, 2012, Hawker Beechcraft, Inc. (“Hawker”) filed for bankruptcy protection under Chapter 11 of the United States Bankruptcy Code and emerged from bankruptcy on February 19, 2013 as Beechcraft Corporation. The Company's remaining balance of its $3.5 receivable from Hawker was written off during the first quarter of 2013. The Company's Prestwick facility provided wing components for the Hawker 800 Series manufactured by Hawker. No sales to Hawker were recorded for the three months ended June 27, 2013 or June 28, 2012. For the six months ended June 27, 2013 and June 28, 2012 sales to Hawker were zero and $1.2, respectively.

 

The Company paid less than $0.1 and $0.2 to a subsidiary of Onex for services rendered for the three month periods ended June 27, 2013 and June 28, 2012, respectively and $0.1 and $0.2 for the six month periods ended June 27, 2013 and June 28, 2012, respectively. Management believes the amounts charged were reasonable in relation to the services provided.

 

A director (and former executive) of the Company is a member of the Board of Directors of Rockwell Collins, Inc., a supplier of manufacturing parts to the Company. Under the commercial terms of the arrangement with the supplier, Spirit paid less than $0.1 for the three month periods ended June 27, 2013 and June 28, 2012 and $0.1 and less than $0.1 for the six month periods ended June 27, 2013 and June 28, 2012, respectively. The amounts owed to Rockwell Collins and recorded as accrued liabilities were less than $0.1 as of June 27, 2013 and June 28, 2012.

 

A director (and former executive) of the Company is a member of the Board of Directors of a Wichita, Kansas bank that provides banking services to Spirit. In connection with the banking services provided to Spirit, the Company pays fees consistent with commercial terms that would be available to unrelated third parties. Such fees are not material to the Company.