{
  "url": "https://struct.news/briefs/who-innovative-solutions-and-support-issc-is-actually-tied-to",
  "title": "Who Innovative Solutions and Support (ISSC) is actually tied to",
  "summary": "Its filings read like a directory of the big primes: Textron and Boeing show up as customers, program partners and program references; JPM fronts a $100m credit line; Honeywell appears as both an acquisition counterparty and a named competitor.",
  "published_at": "2026-07-31T16:24:02.650360+00:00",
  "publisher": "Struct",
  "usage": "Figures are as reported by the company. Quote with attribution to the source filing.",
  "company": {
    "name": null,
    "ticker": "ISSC",
    "cik": null,
    "sector": null,
    "industry": null
  },
  "source_filing": null,
  "comparison_filing": null,
  "reported_figures": [
    {
      "group": "ISSC: customer, supplier and partner relationships",
      "label": "TXT",
      "value": "TXT",
      "display": "TXT",
      "unit": "ticker",
      "period": null,
      "detail": null,
      "source": {
        "kind": "jodie_evidence",
        "label": "Named in SEC filings",
        "as_of": "2026-08-03"
      }
    },
    {
      "group": "ISSC: customer, supplier and partner relationships",
      "label": "BA",
      "value": "BA",
      "display": "BA",
      "unit": "ticker",
      "period": null,
      "detail": null,
      "source": {
        "kind": "jodie_evidence",
        "label": "Named in SEC filings",
        "as_of": "2026-08-03"
      }
    },
    {
      "group": "ISSC: customer, supplier and partner relationships",
      "label": "TXT",
      "value": "TXT",
      "display": "TXT",
      "unit": "ticker",
      "period": null,
      "detail": "10.0% revenue",
      "source": {
        "kind": "jodie_evidence",
        "label": "Named in SEC filings",
        "as_of": "2026-08-03"
      }
    },
    {
      "group": "ISSC: customer, supplier and partner relationships",
      "label": "LMT",
      "value": "LMT",
      "display": "LMT",
      "unit": "ticker",
      "period": null,
      "detail": "47.0% revenue",
      "source": {
        "kind": "jodie_evidence",
        "label": "Named in SEC filings",
        "as_of": "2026-08-03"
      }
    },
    {
      "group": "ISSC: customer, supplier and partner relationships",
      "label": "TXT",
      "value": "TXT",
      "display": "TXT",
      "unit": "ticker",
      "period": null,
      "detail": null,
      "source": {
        "kind": "jodie_evidence",
        "label": "Named in SEC filings",
        "as_of": "2026-08-03"
      }
    },
    {
      "group": "ISSC: customer, supplier and partner relationships",
      "label": "BA",
      "value": "BA",
      "display": "BA",
      "unit": "ticker",
      "period": null,
      "detail": null,
      "source": {
        "kind": "jodie_evidence",
        "label": "Named in SEC filings",
        "as_of": "2026-08-03"
      }
    },
    {
      "group": "ISSC: customer, supplier and partner relationships",
      "label": "JPM",
      "value": "JPM",
      "display": "JPM",
      "unit": "ticker",
      "period": null,
      "detail": null,
      "source": {
        "kind": "jodie_evidence",
        "label": "Named in SEC filings",
        "as_of": "2026-08-03"
      }
    },
    {
      "group": "ISSC: customer, supplier and partner relationships",
      "label": "BA",
      "value": "BA",
      "display": "BA",
      "unit": "ticker",
      "period": null,
      "detail": null,
      "source": {
        "kind": "jodie_evidence",
        "label": "Named in SEC filings",
        "as_of": "2026-08-03"
      }
    }
  ],
  "watch_next": [
    {
      "type": "demand",
      "statement": "Contractual backlog rose $34,785M in the six months ended June 30, 2026, primarily from a $29,434M increase in BCA backlog.",
      "importance": "medium",
      "evidence": "The increase in contractual backlog of $34,785 million during the six months ended June 30, 2026, was primarily due to a $29,434 million increase in BCA backlog.",
      "source_date": "2026-07-28"
    },
    {
      "type": "input_costs",
      "statement": "YTD cost of products and services sold rose due to higher direct and indirect material costs and higher labor costs of approximately $0.4B (4%), plus ~$0.2B incremental costs from recent acquisitions.",
      "importance": "medium",
      "evidence": "YTD 2026 compared with YTD 2025 Cost of products and services sold increased due to the following: • Higher direct and indirect material costs and higher labor costs of approximately $0.4 billion or 4%, and • Incremental costs from recent acquisitions of approximately $0.2 billion or 2%.",
      "source_date": "2026-07-23"
    },
    {
      "type": "partner_dependency",
      "statement": "Filing reports specific Boeing aircraft retirements as part of FedEx's fleet reduction and modernization strategy (explicit counts are disclosed).",
      "importance": "medium",
      "evidence": "These retirements included four Boeing 757 aircraft, one Airbus A300 aircraft, and five Boeing MD-11 aircraft, and align with Federal Express’s fleet reduction and modernization strategy as we continue to improve our global network efficiency and better align air network capacity with anticipated demand.",
      "source_date": "2026-07-20"
    },
    {
      "type": "liquidity_financing",
      "statement": "Credit agreements include a financial covenant requiring FedEx to maintain a ratio of debt to consolidated earnings with specified exclusions (pensions, impairments, certain restructuring and Spin‑Off items).",
      "importance": "high",
      "evidence": "The Credit Agreements contain a financial covenant requiring us to maintain a ratio of debt (excluding debt incurred by affiliates of FedEx Freight to finance distributions to FedEx and other transactions related to the Spin-Off and certain other customary items) to consolidated earnings (excluding noncash retirement plans MTM adjustments; noncash pension service costs; noncash asset impairment charges; and, subject to certain limitations, business optimization and restructuring expenses, pro fo",
      "source_date": "2026-07-20"
    }
  ],
  "related_tickers": [
    "AAL",
    "AMZN",
    "ATSG",
    "BA",
    "ESLT",
    "FDX",
    "GRMN",
    "HON",
    "ISSC",
    "LHX",
    "LMT",
    "TXT"
  ],
  "disclaimer": "Descriptive reporting of filed results. Not investment advice, and contains no forecast or recommendation."
}