Boeing Reports Third-Quarter Results; Raises Cash Flow and EPS Guidance

 

The Boeing Company and Subsidiaries

Summary of Business Segment Data

(Unaudited)

 
                         
 

Nine months ended
September 30

 

Three months ended
September 30

(Dollars in millions)

2017

 

2016

 

2017

 

2016

 

Revenues:

       

Commercial Airplanes

 

$41,263

   

$43,630

   

$14,982

   

$15,200

 

Defense, Space & Security

15,520

 

17,281

 

5,470

 

5,751

 

Global Services

10,638

 

10,508

 

3,568

 

3,506

 

Boeing Capital

234

 

211

 

70

 

63

 

Unallocated items, eliminations and other

369

 

(345)

 

219

 

(622)

 

Total revenues

 

$68,024

   

$71,285

   

$24,309

   

$23,898

 

Earnings from operations:

       

Commercial Airplanes

 

$3,648

   

$804

   

$1,483

   

$1,293

 

Defense, Space & Security

1,670

 

1,443

 

559

 

564

 

Global Services

1,639

 

1,609

 

506

 

524

 

Boeing Capital

87

 

36

 

23

 

13

 

Segment operating profit

7,044

 

3,892

 

2,571

 

2,394

 

Unallocated items, eliminations and other

204

 

(241)

 

118

 

(112)

 

Earnings from operations

7,248

 

3,651

 

2,689

 

2,282

 

Other income, net

94

 

41

 

45

 

2

 

Interest and debt expense

(267)

 

(227)

 

(87)

 

(81)

 

Earnings before income taxes

7,075

 

3,465

 

2,647

 

2,203

 

Income tax (expense)/benefit

(2,010)

 

(201)

 

(794)

 

76

 

Net earnings

 

$5,065

   

$3,264

   

$1,853

   

$2,279

 
         

Research and development expense, net:

       

Commercial Airplanes

 

$1,755

   

$3,152

   

$538

   

$633

 

Defense, Space & Security

599

 

666

 

207

 

201

 

Global Services

101

 

126

 

38

 

41

 

Other

(37)

 

(43)

 

(16)

 

(18)

 

Total research and development expense, net

 

$2,418

   

$3,901

   

$767

   

$857

 
         

Unallocated items, eliminations and other

       

Share-based plans

 

($67)

   

($50)

   

($21)

   

($9)

 

Deferred compensation

(174)

 

(38)

 

(78)

 

(33)

 

Amortization of previously capitalized interest

(72)

 

(71)

 

(21)

 

(23)

 

Eliminations and other unallocated items

(437)

 

(333)

 

(78)

 

(135)

 

Sub-total (included in core operating earnings)

(750)

 

(492)

 

(198)

 

(200)

 

Pension

808

 

129

 

275

 

50

 

Postretirement

146

 

122

 

41

 

38

 

Total unallocated items, eliminations and other

 

$204

   

($241)

   

$118

   

($112)

 

The Boeing Company and Subsidiaries

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