Accounting Project Assignment | Online Homework Help

Only do part 4 summary, the summary should based on the sources I provided

Part I Basic Information and Business Environment

Part II Financial Statement Analysis (5-year)

Part III Forecasting (5-year) and Valuation

Part IV Summary

Business Summary
The Boeing Company is an aerospace firm. The Company operates in four segments: Commercial
Airplanes (BCA); Defense, Space & Security (BDS); Global Services (BGS), and Boeing Capital
(BCC). BCA segment develops, produces and markets commercial jet aircraft and provides fleet
support services, principally to the commercial airline industry worldwide. BDS segment is engaged
in the research, development, production and modification of manned and unmanned military aircraft
and weapons systems for strike, surveillance and mobility. BGS segment provides services
to commercial and defense customers worldwide. BCC’s segment portfolio consists of equipment
under operating leases, finance leases, notes and other receivables and assets held for sale.
Share Performance
Price ($): 123.27 52 Week High: 398.66 Currency: USD
Volume (millions): 48.6 52 Week Low: 89.00
Financial Summary
BRIEF: For the fiscal year ended 31 December 2019, Boeing Co revenues decreased 16% to
$84.82B. Net loss applicable to common stockholders totaled $636M vs. income of $10.45B. Revenues
reflect Commercial Airplanes segment decrease of 47% to $32.26B, Boeing Capital Corporation
segment decrease of 11% to $244M, China segment decrease of 59% to $5.68B, Europe segment
decrease of 20% to $10.37B, United States segment decrease of 4% to $42.68B.
Valuation Ratios
Price/Earnings (TTM) —
Price/Sales (TTM) 0.82
Price/Book (MRQ) —
Price/Cashflow (TTM) 42.54
Per Share Data
Earnings (TTM) (1.19)
Sales (TTM) 149.27
Book Value (MRQ) (15.31)
Cash Flow (TTM) 2.88
Cash (MRQ) 17.82
Profitability Ratios (%)
Gross Margin (TTM) 15.00
Operating Margin (TTM) (2.33)
Net Profit Margin (TTM) (0.75)
Management Effectiveness (%)
Return on Equity (TTM) —
Return on Assets (TTM) (0.51)
Return on Investment (TTM) (1.77)
Financial Strength
Quick Ratio (MRQ) 0.26
Current Ratio (MRQ) 1.05
LT Debt/Equity (MRQ) 0.00
Total Debt/Equity (MRQ) 0.00
Dividend Information
Dividend Yield (%) —
Dividend per Share (MRQ) 2.06
Payout Ratio (MRQ) —
Boeing Co
100 N Riverside Plz
CHICAGO
IL 60606-1596
United States
()
http://www.boeing.com/
P/E: —
Employees: 161,100
(Millions)
Market Cap: 69,552.12
Shares Outstanding: 564.23
Float: 563.62
Sa le s
79000
85000
90000
96000
101000
107000
De c 17 De c 18 De c 19
($ Millions)
In come

• 4300
• 600
  3100
  6800
  10500
  14200
  De c 17 De c 18 De c 19
  ($ Millions)
  Ea r n in gs p e r Sh a r e
  5.1
  8.3
  11.5
  14.7
  17.9
  21.1
  De c 17 De c 18 De c 19
  ($)
  Div id en d s p e r Sh a r e
  4.8
  5.7
  6.5
  7.4
  8.2
  9.1
  De c 17 De c 18 De c 19
  ($)
  1
  BA BOEING CO
  (NEW YORK STOCK EXCHANGE)
  Key Ratios & Statistics
  TTM: Trailing Twelve Months; MRQ: Most Recent Quarter; MRI: Most Recent Interim.
  Latest fiscal year: 2019; Most recent quarter: 4; Fiscal year end month: December;
  All Ratios are calculated for the latest fiscal year end unless otherwise indicated.
  Data Source: Reuters Fundamentals
  Financial Strength
  12 Mo
  Dec 17
  12 Mo
  Dec 18
  12 Mo
  Dec 19
  MRQ 3 Year
  Average
  Quick Ratio 0.42 0.31 0.26 0.26 0.33
  Current Ratio 1.16 1.08 1.05 1.05 1.10
  LT Debt/Equity 27.55 31.44 (2.32) 0.00 18.89
  Total Debt Equity 31.32 40.85 (3.17) 0.00 23.00
  Cu r r en t Ra t io
  1.01
  1.05
  1.09
  1.12
  1.16
  1.2
  12 Mo
  De c 17
  12 Mo
  De c 18
  12 Mo
  De c 19
  MRQ 3 Ye a r
  Av e r age
  Quick Ratio: Cash plus Short Term Investments plus Accounts Receivable divided by the Total Current
  Liabilities for the same period. Current Ratio: Total Current Assets divided by Total Current
  Liabilities for the same period. Long Term Debt To Total Equity: Total Long Term Debt divided
  by Total Shareholder Equity. Total Debt to Total Equity: Total Debt divided by Total Shareholder
  Equity for the same period.
  Profitability
  12 Mo
  Dec 17
  12 Mo
  Dec 18
  12 Mo
  Dec 19
  TTM 3 Year
  Average
  Gross Margin (%) 18.55 19.42 15.00 15.00 17.66
  Operating Margin (%) 11.01 11.85 (2.33) (2.33) 6.84
  Net Profit Margin (%) 8.78 10.34 (0.75) (0.75) 6.12
  Interest Coverage 28.55 25.24 (2.74) — 17.02
  Gr os s Ma r gin (%)
  13.5
  15.0
  16.5
  17.9
  19.4
  20.9
  12 Mo
  De c 17
  12 Mo
  De c 18
  12 Mo
  De c 19
  TTM 3 Ye a r
  Av e r age
  Gross Margin: This value measures the percent of revenue left after paying all direct production expenses.
  It is calculated as Revenue minus the Cost of Goods Sold divided by the Revenue and multiplied
  by 100. Operating Margin: This value measures the percent of revenues remaining after paying all
  operating expenses. It is calculated as Operating Income divided by the Total Revenue, multiplied by

1. Net Profit Margin: Also known as Return on Sales, this value is the Income After Taxes divided
   by Total Revenue for the same period and is expressed as a percentage. Interest Coverage: The
   Operating Income divided by the company’s interest obligations.
   Financial Strength looks at business risk. The
   stronger a company is from a financial standpoint,
   the less risky it is. The Quick Ratio compares cash
   and short-term investments (investments that could
   be converted to cash very quickly) to the financial
   liabilities they expect to incur within a year’s time.
   The Current Ratio compares year-ahead liabilities
   to cash on hand now plus other inflows (e.g. Accounts
   Receivable) the company is likely to realize
   over that same twelve-month period.
   Current Ratio 1.05
   Total Current Assets
   Total Current Liabilities
   102,229.00
   97,312.00
   The Long Term Debt/Equity Ratio looks at the
   company’s capital base. A ratio of 1.00 means the
   company’s long-term debt and equity are equal. The
   Total Debt/Equity Ratio includes long-term debt
   and short term debt.
   These ratios realize overall profitability, or the bottom
   line.
   Gross Margin (%) 15.00 (%)
   Gross Profit
   Revenue
   x 100
   12,725.00
   84,818.00
   x 100
   Gross Margin shows the amount of revenue left over
   after deducting direct costs of producing the goods
   or services. Operating Profit and Operating Margin
   trace the progress revenue down to another important
   level. From gross profit, we now subtract indirect
   costs, often referred to as overhead e.g. facilities
   and salaries associated with headquarters operations.
   Finally, Profit Margin shows you how much of each
   revenue dollar is left after all costs, of any kind, are
   subtracted. These other costs include such items as
   interest on corporate debt and income taxes.
   2
   BA BOEING CO
   (NEW YORK STOCK EXCHANGE)
   Key Ratios & Statistics (cont.)
   TTM: Trailing Twelve Months; MRQ: Most Recent Quarter; MRI: Most Recent Interim.
   Latest fiscal year: 2019; Most recent quarter: 4; Fiscal year end month: December;
   All Ratios are calculated for the latest fiscal year end unless otherwise indicated.
   Data Source: Reuters Fundamentals
   Management Effectiveness (%)
   12 Mo
   Dec 17
   12 Mo
   Dec 18
   12 Mo
   Dec 19
   TTM 3 Year
   Average
   Return on Equity % 1,398.81 3,012.39 15.37 — 1,475.52
   Return on Assets % 8.99 9.98 (0.51) (0.51) 6.15
   Return on Investments % 21.59 29.12 (1.76) (1.77) 16.32
   Re tu r n on As s e t s %

• 4.0
• 0.5
  3.0
  6.5
  10.0
  13.5
  12 Mo
  De c 17
  12 Mo
  De c 18
  12 Mo
  De c 19
  TTM 3 Ye a r
  Av e r age
  Return On Equity: Income Available to Common Stockholders divided by the Common Equity and
  expressed as a percentage. Return on Assets: This value is the Income After Taxes divided by the
  Average Total Assets, expressed as a percentage. Return on Investments: Income after taxes divided
  by the average total long term debt, other long term liabilities and shareholders equity, and expressed
  as a percentage.
  Dividend Information
  12 Mo
  Dec 17
  12 Mo
  Dec 18
  12 Mo
  Dec 19
  MRQ 3 Year
  Average
  Payout Ratio (%) 42.32 37.90 (731.53) — (217.10)
  Dividend Per Share 5.68 6.84 8.22 2.06 6.91
  Pay ou t Ra t io (%)
• 990
• 730
• 470
• 220
  40
  300
  12 Mo
  De c 17
  12 Mo
  De c 18
  12 Mo
  De c 19
  MRQ 3 Ye a r
  Av e r age
  Dividend Per Share: Common Stock Cash Dividends divided by the shares outstanding. Payout Ratio:
  This ratio is the percentage of the Primary/Basic Earnings Per Share Excluding Extraordinary Items
  paid to common stockholders in the form of cash dividends.
  A company’s ability to operate profitably can be
  measured directly by measuring its return on assets.
  ROA (Return On Assets) is the ratio of a company’s
  net profit to its total assets, expressed as a percentage.
  Return on Assets (%) (0.51) (%)
  Income After Taxes
  Average Total Assets
  x 100
  (636.00)
  125,492.00
  x 100
  ROA measures how well a company’s management
  uses its assets to generate profits. It is a better measure
  of operating efficiency than ROE, which only
  measures how much profit is generated on the
  shareholders equity but ignores debt funding. This
  ratio is particularly relevant for banks which typically
  have huge assets.
  The annual dividend is the total amount($) of dividends
  you could expect to receive if you held
  the stock for a year (assuming no change in the
  company’s dividend policy).
  Payout Ratio (%) (731.53) (%)
  Dividend Per Share
  Primary EPS
  x 100
  8.22
  (1.12)
  x 100
  The dividend yield is the indicated annual dividend
  rate expressed as a percentage of the price of the
  stock, and could be compared to the coupon yield on
  a bond. The Payout Ratio tells you what percent of
  the company’s earnings have been given to shareholders
  as cash dividends. A low payout ratio indicates
  that company has chosen to reinvest most of
  the profits back into the business.
  3
  BA BOEING CO
  (NEW YORK STOCK EXCHANGE)
  Key Ratios & Statistics (cont.)
  TTM: Trailing Twelve Months; MRQ: Most Recent Quarter; MRI: Most Recent Interim.
  Latest fiscal year: 2019; Most recent quarter: 4; Fiscal year end month: December;
  All Ratios are calculated for the latest fiscal year end unless otherwise indicated.
  Data Source: Reuters Fundamentals
  Per Share Data
  12 Mo
  Dec 17
  12 Mo
  Dec 18
  12 Mo
  Dec 19
  TTM 3 Year
  Growth
  Earning Per Share 13.42 17.85 (1.12) (1.19)
  Sales Per Share 152.93 172.72 149.86 149.27 0.01
  Book Value 0.59 0.60 (15.31) (15.31)
  Cash Flow 13.42 17.87 (1.12) 2.88
  Cash Per Share 16.73 15.05 17.82 17.82 0.03
  Ea r n in gs Pe r Sh a r e
• 8
• 1
  5
  12
  18
  24
  12 Mo
  De c 17
  12 Mo
  De c 18
  12 Mo
  De c 19
  TTM
  EPS Excluding Extraordinary Items: This is the adjusted income available to Common divided by
  the diluted weighted average shares outstanding. Sales (Revenue) Per Share: Total Revenue divided
  by the Average Diluted Shares Outstanding. Book Value Per Share: This is defined as the Common
  Shareholder’s Equity divided by the Shares Outstanding. Cash Flow: Cash Flow is defined as the sum
  of Income After Taxes minus Preferred Dividends and General Partner Distributions plus Depreciation,
  Depletion and Amortization. Cash Per Share: This is the Total Cash plus Short Term Investments
  divided by the Shares Outstanding.
  The most important Per-Share Data item is Earnings
  Per Share. That’s because ultimately, the price
  of your stock is related in some way to the value of
  the stream of earnings attributable to that share.
  Earnings Per Share (1.12)
  Adjusted Income Avail. to Common Shareholders
  Diluted Weighted Average Shares
  (636.00)
  566.00
  This section also includes the amount of Cash Per
  Share the company had at the time of its most recent
  quarterly or annual report. Most of the time,
  this number will be far below the stock price. In
  a healthy industrial company, a Cash Per Share
  figure that is close the stock price might suggest
  that investors are underestimating the worth of the
  company’s ongoing business, thereby creating an
  interesting investment opportunity for you.
  4
  BA BOEING CO
  (NEW YORK STOCK EXCHANGE)
  Consensus Estimates
  Data Source: Reuters Fundamentals
  Analyst Recommendations
  & Revisions
  Current As of 1
  Week Ago
  As of 4
  Weeks Ago
  As of 8
  Weeks Ago
  As of 13
  Weeks Ago
  Buy 5 4 4 3 5
  Outperform 3 3 3 3 5
  Hold 13 14 14 14 11
  Underperform 0 0 0 1 0
  Strong Sell 1 1 2 2 2
  Mean Rating 2.5 2.6 2.7 2.8 2.5
  Consensus Estimate Trends Current As of 1
  Week Ago
  As of 4
  Weeks Ago
  As of 8
  Weeks Ago
  As of 13
  Weeks Ago
  Sales (Millions)
  Year Ending Dec 20 78,478.8 82,228.4 91,858.6 90,910.0 115,061.0
  Year Ending Dec 21 100,938.0 104,781.0 113,756.0 113,825.0 124,341.0
  Quarter Ending Jun 21 23,319.3 28,763.0 28,372.0 29,165.5 30,445.6
  Quarter Ending Sep 21 26,393.0 31,238.3 30,647.5 31,832.3 32,576.2
  Earnings (Per share)
  Year Ending Dec 20 0.4 1.9 4.9 5.3 17.4
  Year Ending Dec 21 12.5 13.6 16.5 16.7 22.1
  Quarter Ending Sep 21 3.0 4.3 4.9 5.0 6.4
  Quarter Ending Dec 21 3.4 4.4 4.6 4.6 7.0
  Consensus Estimate Analysis No. of
  Estimates
  Mean
  Estimate
  High
  Estimate
  Low
  Estimate
  Sales (Millions)
  Year Ending Dec 20 19 78,478.8 96,389.0 64,602.0
  Year Ending Dec 21 19 100,938.0 128,406.0 82,688.0
  Quarter Ending Jun 21 2 23,319.3 26,235.0 20,403.6
  Quarter Ending Sep 21 2 26,393.0 28,735.0 24,051.0
  Earnings (Per share)
  Year Ending Dec 20 19 0.4 6.0 (8.6)
  Year Ending Dec 21 20 12.5 20.6 5.3
  Quarter Ending Sep 21 3 3.0 4.4 2.1
  Quarter Ending Dec 21 3 3.4 4.6 2.7
  LT Growth Rate 2 43.4 74.5 12.3
  Quarter Historical Surprises Estimate Actual Difference Surprise (%)
  Sales (Millions)
  December 2019 21,672.20 17,911.00 3,761.23 17.36
  September 2019 19,443.70 19,980.00 536.32 2.76
  June 2019 18,551.70 15,751.00 2,800.70 15.10
  March 2019 22,983.20 22,917.00 66.19 0.29
  Earnings (Per share)
  December 2019 1.47 (2.33) 3.80 258.71
  September 2019 2.09 1.45 0.64 30.53
  June 2019 1.87 (5.82) 7.69 410.96
  March 2019 3.16 3.16 0.00 0.04
  Consensus Recommendation
  OUTPERFORM
  Company Fiscal Year End Month
  December
  Last Updated
  3 April 2020
  Sa le s
  71000
  78000
  86000
  93000
  101000
  108000
  De c 19 De c 20 De c 21
  ($ Millions)
  Ea r n in gs p e r Sh a r e
  0.0
  3.1
  6.3
  9.4
  12.5
  15.7
  De c 19 De c 20 De c 21
  ($)
  5
  BA BOEING CO
  (NEW YORK STOCK EXCHANGE)
  Annual Income Statement
  Data Source: Reuters Fundamentals
  Type of Update UPD UPD UPD
  ($ Millions) ($ Millions) ($ Millions)
  12Months
  31 Dec 17
  12Months
  31 Dec 18
  12Months
  31 Dec 19
  Total Revenue 93,392.0 101,127.0 84,818.0
  Cost of Revenue,Total 76,066.0 81,490.0 72,093.0
  Gross Profit 17,326.0 19,637.0 12,725.0
  Selling/General/Admin.Expenses 4,094.0 4,567.0 3,909.0
  Research & Development 3,179.0 3,269.0 3,219.0
  Depreciation/Amortization — — —
  Interest Expense/Income Net Op. — — —
  Unusual Income/Expense (21.0) (75.0) 7,568.0
  Other Operating Expenses,Total — — —
  Total Operating Expense 83,114.0 89,140.0 86,793.0
  Operating Income 10,278.0 11,987.0 (1,975.0)
  Interest Expense/Income Net Non Op. — — —
  Gain/(Loss) on Sale of Assets — — —
  Other, Net 129.0 91.0 438.0
  Income Before Tax 10,047.0 11,604.0 (2,259.0)
  Income Tax – Total 1,850.0 1,144.0 (1,623.0)
  Income After Tax 8,197.0 10,460.0 (636.0)
  Minority Interest — — —
  Equity In Affiliates — — —
  U.S. GAAP Adjustment — — —
  Net Income Before Extra. Items 8,197.0 10,460.0 (636.0)
  Accounting Change — — —
  Discontinued Operations — — —
  Extraodinary Item — — —
  Tax on Extraordinary Items — — —
  Net Income 8,197.0 10,460.0 (636.0)
  Preferred Dividends — — —
  General Partner’s Distributions — — —
  Inc. Avail. to Common Excl. Extra. Items 8,197.0 10,453.0 (636.0)
  Inc. Avail. to Common Incl. Extra. Items 8,197.0 10,453.0 (636.0)
  Basic Weighted Average Shares 610.7 579.2 566.0
  Basic EPS Excl. Extra. Items 13.422 18.047 (1.124)
  Basic EPS Incl. Extra. Items 13.422 18.047 (1.124)
  Dilution Adjustment — — —
  Diluted Net Income 8,197.000 10,453.000 (636.000)
  Diluted Weighted Average Shares 610.700 585.500 566.000
  Diluted EPS Excl. Extra. Items 13.422 17.853 (1.124)
  Diluted EPS Incl. Extra. Items 13.422 17.853 (1.124)
  Div’s per Share – Common Stock 5.680 6.840 8.220
  Gross Dividends – Common Stock — 4,101.000 4,628.000
  Interest Expense, Supplemental 360.000 475.000 722.000
  Interest Capitalized, Supplemental — (81.000) (83.000)
  Depreciation, Supplemental 2,069.000 1,842.000 1,940.000
  Total Special Items (21.000) (75.000) 8,220.000
  Normalized Income Before Tax 10,026.000 11,529.000 5,961.000
  Effect of Special Items on Inc. Taxes (3.867) (7.394) 2,877.000
  Inc. Taxes Excl. Impact Special Items 1,846.130 1,136.610 1,254.000
  Normalized Income After Tax 8,179.870 10,392.400 4,707.000
  Normalized Income Available to Common 8,179.870 10,385.400 4,707.000
  Basic Normalized EPS 13.394 17.931 8.316
  Diluted Normalized EPS 13.394 17.738 8.316
  Auditor AA DHS DHS
  Auditor Opinion UNO UNO UNO
  Source Document 8-K 10-K 10-K
  Tota l Rev en u e
  79000
  85000
  90000
  96000
  101000
  107000
  De c 17 De c 18 De c 19
  ($ Millions)
  Gr os s Pr ofit
  10400
  12700
  15000
  17300
  19600
  21900
  De c 17 De c 18 De c 19
  ($ Millions)
  Op e r a t in g In come
• 6600
• 2000
  2700
  7300
  12000
  16600
  De c 17 De c 18 De c 19
  ($ Millions)
  Ne t In come
• 4300
• 600
  3100
  6800
  10500
  14200
  De c 17 De c 18 De c 19
  ($ Millions)
  Dilu ted Norma liz ed EPS
  5.2
  8.3
  11.5
  14.6
  17.7
  20.9
  De c 17 De c 18 De c 19
  ($ Millions)
  6
  BA BOEING CO
  (NEW YORK STOCK EXCHANGE)
  Annual Balance Sheet
  Data Source: Reuters Fundamentals
  Type of Update UPD UPD UPD
  ($ Millions) ($ Millions) ($ Millions)
  31 Dec 17 31 Dec 18 31 Dec 19
  Cash — — —
  Cash and Equivalents 8,813.0 7,637.0 9,485.0
  Short Term Investments 1,179.0 927.0 545.0
  Cash and Short Term Investments 9,992.0 8,564.0 10,030.0
  Accounts Receivable(Trade), Net 10,516.0 13,904.0 12,309.0
  Notes Receivable – Short Term 309.0 460.0 162.0
  Other Receivables — — —
  Total Receivables, Net 10,825.0 14,364.0 12,471.0
  Total Inventory 44,344.0 62,567.0 76,622.0
  Prepaid Expenses — — —
  Other Current Assets — 2,335.0 3,106.0
  Total Current Assets 65,161.0 87,830.0 102,229.0
  Property/Plant/Equipment – Gross — — 33,026.0
  Accumulated Depreciation — — (19,342.0)
  Property/Plant/Equip., Net 12,672.0 12,645.0 13,684.0
  Goodwill, Net 5,559.0 7,840.0 8,060.0
  Intangibles, Net 2,573.0 3,429.0 3,338.0
  Long Term Investments 1,260.0 1,087.0 1,092.0
  Note Receivable – Long Term 2,740.0 2,418.0 2,531.0
  Other Long Term Assets, Total 2,368.0 2,110.0 2,691.0
  Other Assets, Total — — —
  Total Assets 92,333.0 117,359.0 133,625.0
  Accounts Payable 12,202.0 12,916.0 15,553.0
  Payable/Accrued — — —
  Accrued Expenses 15,292.0 14,808.0 20,921.0
  Notes Payable/Short Term Debt — — 6,130.0
  Current Port. LT Debt/Capital Leases 1,335.0 3,190.0 1,210.0
  Other Current Liabilities, Total 27,440.0 50,676.0 53,498.0
  Total Current Liabilities 56,269.0 81,590.0 97,312.0
  Long Term Debt 9,782.0 10,657.0 19,795.0
  Capital Lease Obligations — — 167.0
  Total Long Term Debt 9,782.0 10,657.0 19,962.0
  Total Debt 11,117.0 13,847.0 27,302.0
  Deferred Income Tax 1,839.0 1,736.0 413.0
  Minority Interest 57.0 71.0 317.0
  Other Liabilities, Total 24,031.0 22,966.0 24,238.0
  Total Liabilities 91,978.0 117,020.0 142,242.0
  Redeemable Preferred Stock — — —
  Preferred Stock(Non Redeemable), Net — — —
  Common Stock 5,061.0 5,061.0 5,061.0
  Additional Paid-In Capital 6,804.0 6,768.0 6,745.0
  Retained Earnings/Accum. Deficit 45,320.0 55,941.0 50,644.0
  Treasury Stock – Common (43,454.0) (52,348.0) (54,914.0)
  ESOP Debt Guarantee — — —
  Unrealized Gain/Loss — — (83.0)
  Other Equity, Total (13,376.0) (15,083.0) (16,070.0)
  Total Equity 355.0 339.0 (8,617.0)
  Total Liability & Shareholders’ Equity 92,333.0 117,359.0 133,625.0
  Total Common Shares Outstanding 597.4 569.0 562.9
  Total Preferred Stock Shares Outs. — — —
  Auditor AA DHS DHS
  Auditor Opinion UNO UNO
  Source Document 8-K PRESS 10-K
  Ca s h & Sh or t Te rm In v e s tmen t s
  8080
  8560
  9050
  9540
  10030
  10520
  De c 17 De c 18 De c 19
  ($ Millions)
  Tota l Cu r r en t As s e t s
  53000
  65000
  78000
  90000
  102000
  115000
  De c 17 De c 18 De c 19
  ($ Millions)
  Tota l Deb t
  6000
  11000
  17000
  22000
  27000
  33000
  De c 17 De c 18 De c 19
  ($ Millions)
  Tota l Eq u ity
• 11600
• 8600
• 5600
• 2600
  400
  3300
  De c 17 De c 18 De c 19
  ($ Millions)
  Tota l Common Sh a r e s Ou t s tan d in g
  551
  563
  574
  586
  597
  609
  De c 17 De c 18 De c 19
  ($ Millions)
  7
  BA BOEING CO
  (NEW YORK STOCK EXCHANGE)
  Annual Cash Flow Statement
  Data Source: Reuters Fundamentals
  Type of Update UPD UPD UPD
  ($ Millions) ($ Millions) ($ Millions)
  12Months
  31 Dec 17
  12Months
  31 Dec 18
  12Months
  31 Dec 19
  Net Income/Starting Line 8,197.0 10,460.0 (636.0)
  Depreciation/Depletion 2,069.0 2,114.0 2,271.0
  Amortization — — —
  Deferred Taxes — — —
  Non-Cash Items 583.0 464.0 548.0
  Cash Receipts — — —
  Cash Payments — — —
  Cash Taxes Paied — — 837.0
  Cash Interest Paid — — 973.0
  Changes in Working Capital 2,495.0 2,284.0 (4,629.0)
  Total Cash from Operating Activities 13,344.0 15,322.0 (2,446.0)
  Capital Expenditures (1,739.0) (1,722.0) (1,961.0)
  Other Investing Cash Flow Items, Total (323.0) (2,899.0) 431.0
  Total Cash from Investing Activities (2,062.0) (4,621.0) (1,530.0)
  Financing Cash Flow Items (132.0) (222.0) (256.0)
  Total Cash Dividends Paid (3,417.0) (3,946.0) (4,630.0)
  Insurance/Retirement of Stock, Net (8,925.0) (8,919.0) (2,593.0)
  Insurance/Retirement of Debt, Net 1,124.0 1,365.0 13,218.0
  Total Cash from Financing Activities (11,350.0) (11,722.0) 5,739.0
  Foreign Exchange Effects 80.0 (53.0) (5.0)
  Net Change in Cash 12.0 (1,074.0) 1,758.0
  Depreciation, Supplemental 2,069.0 2,114.0 2,271.0
  Cash Interest Paid, Supplemental — — 973.0
  Cash Taxes Paid, Supplemental — — 837.0
  Auditor AA DHS DHS
  Auditor Opinion UNO UNO
  Source Document 8-K PRESS 10-K
  Tota l Ca s h fr om Op e r a t in g Act iv it ie s
• 8000
• 2000
  3000
  9000
  15000
  21000
  De c 17 De c 18 De c 19
  ($ Millions)
  Cap ita l Exp en d itu r e s
• 2040
• 1960
• 1880
• 1800
• 1720
• 1640
  De c 17 De c 18 De c 19
  ($ Millions)
  Is s u e of Stock
• 11000
• 8900
• 6800
• 4700
• 2600
• 500
  De c 17 De c 18 De c 19
  ($ Millions)
  Is s u e of Deb t
  0
  3300
  6600
  9900
  13200
  16500
  De c 17 De c 18 De c 19
  ($ Millions)
  Ne t Ch an ge in Ca s h
• 2000
• 1100
• 100
  800
  1800
  2700
  De c 17 De c 18 De c 19
  ($ Millions)
  8
  BA BOEING CO
  (NEW YORK STOCK EXCHANGE)
  Quarterly Income Statement
  Data Source: Reuters Fundamentals
  Type of Update UCA UPD UPD UPD UCA
  ($ Millions) ($ Millions) ($ Millions) ($ Millions) ($ Millions)
  3Months
  31 Dec 18
  3Months
  31 Mar 19
  3Months
  30 Jun 19
  3Months
  30 Sep 19
  3Months
  31 Dec 19
  Total Revenue 28,341.0 22,917.0 21,361.0 19,980.0 20,560.0
  Cost of Revenue,Total 22,090.0 18,645.0 17,810.0 16,930.0 18,708.0
  Gross Profit 6,251.0 4,272.0 3,551.0 3,050.0 1,852.0
  Selling/General/Admin.Expenses 1,222.0 1,186.0 681.0 1,001.0 1,052.0
  Research & Development 852.0 866.0 826.0 778.0 749.0
  Depreciation/Amortization — — — — —
  Interest Expense/Income Net Op. — — — — —
  Unusual Income/Expense 1.0 (108.0) 5,418.0 4.0 2,254.0
  Other Operating Expenses,Total — — — — —
  Total Operating Expense 24,166.0 20,567.0 24,741.0 18,721.0 22,764.0
  Operating Income 4,175.0 2,350.0 (3,380.0) 1,259.0 (2,204.0)
  Interest Expense/Income Net Non Op. — — — — —
  Gain/(Loss) on Sale of Assets — — — — —
  Other, Net 33.0 98.0 108.0 122.0 104.0
  Income Before Tax 4,046.0 2,333.0 (3,427.0) 1,177.0 (2,342.0)
  Income Tax – Total 622.0 184.0 (485.0) 10.0 (1,332.0)
  Income After Tax 3,424.0 2,149.0 (2,942.0) 1,167.0 (1,010.0)
  Minority Interest — — — — —
  Equity In Affiliates — — — — —
  U.S. GAAP Adjustment — — — — —
  Net Income Before Extra. Items 3,424.0 2,149.0 (2,942.0) 1,167.0 (1,010.0)
  Accounting Change — — — — —
  Discontinued Operations — — — — —
  Extraodinary Item — — — — —
  Tax on Extraordinary Items — — — — —
  Net Income 3,424.0 2,149.0 (2,942.0) 1,167.0 (1,010.0)
  Preferred Dividends — — — — —
  General Partner’s Distributions — — — — —
  Inc. Avail. to Common Excl. Extra. Items 3,422.0 2,147.0 (2,942.0) 1,166.0 (1,010.0)
  Inc. Avail. to Common Incl. Extra. Items 3,422.0 2,147.0 (2,942.0) 1,166.0 (1,010.0)
  Basic Weighted Average Shares 570.8 567.1 564.7 564.6 567.2
  Basic EPS Excl. Extra. Items 5.995 3.786 (5.210) 2.065 (1.781)
  Basic EPS Incl. Extra. Items 5.995 3.786 (5.210) 2.065 (1.781)
  Dilution Adjustment — — — — —
  Diluted Net Income 3,422.000 2,147.000 (2,942.000) 1,166.000 (1,010.000)
  Diluted Weighted Average Shares 577.400 572.400 564.700 568.600 567.200
  Diluted EPS Excl. Extra. Items 5.927 3.751 (5.210) 2.051 (1.781)
  Diluted EPS Incl. Extra. Items 5.927 3.751 (5.210) 2.051 (1.781)
  Div’s per Share – Common Stock 1.710 2.055 2.055 2.055 2.055
  Gross Dividends – Common Stock 2,130.000 — 2,313.000 — 2,315.000
  Interest Expense, Supplemental 158.000 123.000 154.000 203.000 242.000
  Interest Capitalized, Supplemental (18.000) — — — —
  Depreciation, Supplemental 583.000 521.000 546.000 576.000 628.000
  Total Special Items 1.000 (108.000) 5,418.000 4.000 2,254.000
  Normalized Income Before Tax 4,047.000 2,225.000 1,991.000 1,181.000 (88.000)
  Effect of Special Items on Inc. Taxes 0.154 (8.518) 1,896.300 0.034 788.900
  Inc. Taxes Excl. Impact Special Items — — — — —
  Normalized Income After Tax 3,424.850 2,049.520 579.700 1,170.970 455.100
  Normalized Income Available to Common 3,422.850 2,047.520 579.700 1,169.970 455.100
  Basic Normalized EPS 5.997 3.611 1.027 2.072 0.802
  Diluted Normalized EPS 5.928 3.577 1.027 2.058 0.802
  Source Document 10-K 10-Q 10-Q 10-Q 10-K
  Fiscal Period 4 1 2 3 4
  Tota l Rev en u e
  17200
  20000
  22800
  25600
  28300
  31100
  De c 18 Ma r 19 Ju n 19 Sep 19 De c 19
  ($ Millions)
  Gr os s Pr ofit
  400
  1900
  3300
  4800
  6300
  7700
  De c 18 Ma r 19 Ju n 19 Sep 19 De c 19
  ($ Millions)
  Op e r a t in g In come
• 5900
• 3400
• 900
  1700
  4200
  6700
  De c 18 Ma r 19 Ju n 19 Sep 19 De c 19
  ($ Millions)
  Ne t In come
• 5100
• 2900
• 800
  1300
  3400
  5500
  De c 18 Ma r 19 Ju n 19 Sep 19 De c 19
  ($ Millions)
  Dilu ted Norma liz ed EPS
  0.0
  1.5
  3.0
  4.4
  5.9
  7.4
  De c 18 Ma r 19 Ju n 19 Sep 19 De c 19
  ($ Millions)
  9