BOEING

Brief Introduction
Company Name: Boeing Co.
Year Established: 1916
Headquarter:

Chicago, Illinois
Sector:
Industrial Goods
Industry:
Aerospace/Defense
Products & Services
Fiscal Ending Month: December

LIQUIDITY OF SHORT-TERM ASSETS &

RELATED DEBT PAYING ABILITY

Contd.

LONG-TERM DEBT-PAYING ABILITY

PROFITABILITY

Contd.

FOR THE INVESTOR

The Boeing Company and Subsidiaries

Consolidated Statements of Financial Position
(Dollars in millions, except per share data)
December 31,

Common Size

Trend Analysis

2010

2009

2010

2009

2010

2009

Cash and cash equivalents

5,359

9,215

7.82

14.85

58.16 100.00

Short-term and other investments

5,158

2,008

7.52

3.24 256.87 100.00

Accounts receivable, net

5,422

5,785

7.91

9.32

93.73 100.00

285

368

0.42

0.59

77.45 100.00

31

966

0.05

1.56

3.21 100.00

Inventories, net of advances and progress billings

24,317 16,933

35.47

27.29 143.61 100.00

Total current assets

40,572 35,275

59.17

56.85 115.02 100.00

Assets

Current portion of customer financing, net

Deferred income taxes

Customer financing, net

4,395

5,466

6.41

Property, plant and equipment, net

8,931

8,784

13.03

14.16 101.67 100.00

Goodwill

4,937

4,319

7.20

6.96 114.31 100.00

Other acquired intangibles, net

2,979

2,877

4.34

4.64 103.55 100.00

Deferred income taxes

4,031

3,062

5.88

4.93 131.65 100.00

Investments

1,111

1,030

1.62

1.66 107.86 100.00

16

0.01

0.03

1,603

1,224

2.34

1.97 130.96 100.00

Pension plan assets, net

Other assets, net of accumulated amortization of $630 and $492
Total assets

68,565 62,053

8.81

80.41 100.00

37.50 100.00

100.00 100.00 110.49 100.00

Liabilities and Equity

Accounts payable
Other accrued liabilities
Advances and billings in excess of related costs
Deferred income taxes and income taxes payable
Short-term debt and current portion of long-term debt
Total current liabilities
Accrued retiree health care
Accrued pension plan liability, net
Non-current income taxes payable
Other long-term liabilities
Long-term debt
Shareholders equity:
Common stock, par value $5.00 1,012,261,159 shares issued
Additional paid-in capital
Treasury stock, at cost
Retained earnings
Accumulated other comprehensive loss
ShareValue Trust
Total shareholders equity
Noncontrolling interest
Total equity
Total liabilities and equity

7,715
13,802
12,323
607
948
35,395
8,025
9,800
418
592
11,473

7,096
12,822
12,076
182
707
32,883
7,049
6,315
827
537
12,217

5,061 5,061
3,866 3,724
-17,187 -15,911
24,784 22,746
-13,758 -11,877
-1,615
2,766 2,128
96
97
2,862 2,225
68,565 62,053

11.25
20.13
17.97
0.89
1.38
51.62
11.70
14.29
0.61
0.86
16.73

11.44
20.66
19.46
0.29
1.14
52.99
11.36
10.18
1.33
0.87
19.69

108.72
107.64
102.05
333.52
134.09
107.64
113.85
155.19
50.54
110.24
93.91

100.00
100.00
100.00
100.00
100.00
100.00
100.00
100.00
100.00
100.00
100.00

7.38
8.16
5.64
6.00
-25.07 -25.64
36.15 36.66
-20.07 -19.14
0.00
-2.60
4.03
3.43
0.14
0.16
4.17
3.59
100.00 100.00

100.00
103.81
108.02
108.96
115.84
0.00
129.98
98.97
128.63
110.49

100.00
100.00
100.00
100.00
100.00
100.00
100.00
100.00
100.00
100.00

The Boeing Company and Subsidiaries

Consolidated Statements of Operations
(Dollars in millions, except per share data)
Years ended December 31,
Sales of products
Sales of services
Total revenues
Cost of products
Cost of services
Boeing Capital Corporation interest expense
Total costs and expenses
Income from operating investments, net
General and administrative expense
Research and development expense, net
Gain/(loss) on dispositions, net
Earnings from operations
Other income/(expense), net
Interest and debt expense
Earnings before income taxes
Income tax expense
Net earnings from continuing operations
Net (loss)/gain on disposal of discontinued operations, net of taxes of $2, $13 and
($10)
Net earnings
Basic earnings per share from continuing operations
Net (loss)/gain on disposal of discontinued operations, net of taxes
Basic earnings per share
Diluted earnings per share from continuing operations
Net (loss)/gain on disposal of discontinued operations, net of taxes
Diluted earnings per share

COMMON SIZE
2010
2009
2010
2009
$52,586 $57,032 $81.77 $83.53
11,720 11,249 $18.23 $16.47
64,306 68,281 $100.00 $100.00
-42,194 -47,639 ($65.61) ($69.77)
-9,489
-8,726 ($14.76) ($12.78)
-160
-175 ($0.25) ($0.26)
-51,843 -56,540 ($80.62) ($82.80)
12,463 11,741 $19.38 $17.20
267
249
$0.42
$0.36
-3,644
-3,364 ($5.67) ($4.93)
-4,121
-6,506 ($6.41) ($9.53)
6
-24
$0.01 ($0.04)
4,971
2,096
$7.73
$3.07
52
-26
$0.08 ($0.04)
-516
-339 ($0.80) ($0.50)
4,507
1,731
$7.01
$2.54
-1,196
-396 ($1.86) ($0.58)
3,311
1,335
$5.15
$1.96

-4
$3,307
$4.50
-0.01
$4.49
$4.46
-0.01
$4.45

-23
$1,312
$1.89
-0.03
$1.86
$1.87
-0.03
$1.84

($0.01)
$5.14
$0.01
($0.00)
$0.01
$0.01
($0.00)
$0.01

($0.03)
$1.92
$0.00
($0.00)
$0.00
$0.00
($0.00)
$0.00

Trend Analysis
2010
92.20
104.19
94.18
88.57
108.74
91.43
91.69
106.15
107.23
108.32
63.34
-25.00
237.17
-200.00
152.21
260.37
302.02
248.01

2009
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100

17.39
252.06
238.10
33.33
241.40
238.50
33.33
241.85

100
100
100
100
100
100
100
100