Boeing Co. Files 10-Q for Q1 2024

TL;DR

<b>Boeing Co. released its Q1 2024 10-Q filing, detailing financial performance and segment data.</b>

AI Summary

BOEING CO (BA-PA) filed a Quarterly Report (10-Q) with the SEC on April 24, 2024. Boeing Co. filed its 10-Q report for the period ending March 31, 2024. The filing covers the first quarter of fiscal year 2024. Key financial data from previous periods (2023 Q1, 2023 FY, 2022 FY) is referenced. Segment information for Commercial Airplanes and Boeing Defense, Space & Security is included. Details on common stock, additional paid-in capital, treasury stock, retained earnings, and accumulated other comprehensive income are provided for various dates.

Why It Matters

For investors and stakeholders tracking BOEING CO, this filing contains several important signals. This 10-Q provides investors with the latest financial snapshot of Boeing's performance in the first quarter of 2024, including segment revenues and balance sheet details. The filing allows for comparison against prior periods, offering insights into trends in revenue, earnings, and equity for Boeing's major business segments.

Risk Assessment

Risk Level: medium — BOEING CO shows moderate risk based on this filing. The filing is a standard quarterly report (10-Q), which typically contains routine financial information and does not inherently signal significant positive or negative developments beyond the disclosed figures.

Analyst Insight

Review the segment revenue trends for Commercial Airplanes and Defense, Space & Security to assess operational performance and identify any significant shifts.

Revenue Breakdown

Key Numbers

• 2024-03-31 — Period End Date (Conformed period of report)
• 2024-04-24 — Filing Date (Filed as of date)
• 2024 Q1 — Reporting Quarter (Indicates the filing is for the first quarter of 2024)
• 1231 — Fiscal Year End (Indicates the company's fiscal year ends on December 31st)

Key Players & Entities

• BOEING CO (company) — Filer name
• 2024-03-31 (date) — Conformed period of report
• 2024-04-24 (date) — Filed as of date
• 0000012927 (company) — Central Index Key
• DE (jurisdiction) — State of Incorporation
• 929 LONG BRIDGE DRIVE (address) — Business Address Street 1
• ARLINGTON (location) — Business Address City
• VA (state) — Business Address State

FAQ

Key Dates

• 2024-03-31: Quarter End — End of the reporting period for the 10-Q filing.
• 2024-04-24: Filing Date — Date the 10-Q report was officially submitted to the SEC.

Key Financial Figures

• $5.00 — ange on which registered Common Stock, $5.00 Par Value BA New York Stock Exchange

Filing Documents

• ba-20240331.htm (10-Q) — 1420KB
• a202403mar3110qex101.htm (EX-10.1) — 53KB
• a202403mar3110qex102.htm (EX-10.2) — 56KB
• a202403mar3110qex103.htm (EX-10.3) — 53KB
• a202403mar3110qex104.htm (EX-10.4) — 124KB
• a202403mar3110qex105.htm (EX-10.5) — 57KB
• a202403mar3110qex106.htm (EX-10.6) — 91KB
• a202403mar3110qex15.htm (EX-15) — 10KB
• a202403mar3110kex311.htm (EX-31.1) — 10KB
• a202403mar3110kex312.htm (EX-31.2) — 10KB
• a202403mar3110kex321.htm (EX-32.1) — 4KB
• a202403mar3110kex322.htm (EX-32.2) — 4KB
• ba-20240331_g1.jpg (GRAPHIC) — 24KB
• 0000012927-24-000025.txt (&nbsp;) — 9590KB
• ba-20240331.xsd (EX-101.SCH) — 77KB
• ba-20240331_cal.xml (EX-101.CAL) — 107KB
• ba-20240331_def.xml (EX-101.DEF) — 322KB
• ba-20240331_lab.xml (EX-101.LAB) — 801KB
• ba-20240331_pre.xml (EX-101.PRE) — 563KB
• ba-20240331_htm.xml (XML) — 1389KB

Financial Information (Unaudited) Page

Part I. Financial Information (Unaudited) Page

Financial Statements

Item 1. Financial Statements 1 Condensed Consolidated Statements of Operations 1 Condensed Consolidated Statements of Comprehensive Income 2 Condensed Consolidated Statements of Financial Position 3 Condensed Consolidated Statements of Cash Flows 4 Condensed Consolidated Statements of Equity 5 Summary of Business Segment Data 6 Note 1 - Basis of Presentation 7 Note 2 - Earnings Per Share 7 Note 3 - Income Taxes 8 Note 4 - Allowance for Losses on Financial Assets 9 Note 5 - Inventories 10 Note 6 - Contracts with Customers 10 Note 7 - Financing Receivables and Operating Lease Equipment 11 Note 8 - Investments 12 Note 9 - Liabilities, Commitments & Contingencies 13 Note 10 - Arrangements with Off-Balance Sheet Risk 16 Note 11 - Postretirement Plans 17 Note 12 - Share-Based Compensation and Other Compensation Arrangements 18 Note 13 - Shareholders' Equity 19 Note 14 - Derivative Financial Instruments 19 Note 15 - Fair Value Measurements 21 Note 16 - Legal Proceedings 23 Note 17 - Segment and Revenue Information 23 Report of Independent Registered Public Accounting Firm 27

Forward-Looking Statements

Forward-Looking Statements 28

Management's Discussion and Analysis of Financial Condition and Results of Operations

Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 30 Consolidated Results of Operations and Financial Condition 30 Commercial Airplanes 35 Defense, Space & Security 38 Global Services 40 Liquidity and Capital Resources 41 Contingent Obligations 42 Non-GAAP Measures 43

Quantitative and Qualitative Disclosures About Market Risk

Item 3. Quantitative and Qualitative Disclosures About Market Risk 44

Controls and Procedures

Item 4. Controls and Procedures 45

Other Information

Part II. Other Information

Legal Proceedings

Item 1. Legal Proceedings 46

Risk Factors

Item 1A. Risk Factors 46

Unregistered Sales of Equity Securities and Use of Proceeds

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 46

Defaults Upon Senior Securities

Item 3. Defaults Upon Senior Securities 46

Mine Safety Disclosures

Item 4. Mine Safety Disclosures 46

Other Information

Item 5. Other Information 46

Exhibits

Item 6. Exhibits 47 Signature 48 Table of Contents

Financial Information

Part I. Financial Information

Financial Statements

Item 1. Financial Statements The Boeing Company and Subsidiaries Condensed Consolidated Statements of Operations (Unaudited) (Dollars in millions, except per share data) Three months ended March 31 2024 2023 Sales of products $ 13,268 $ 14,914 Sales of services 3,301 3,007 Total revenues 16,569 17,921 Cost of products ( 12,064 ) ( 13,553 ) Cost of services ( 2,629 ) ( 2,445 ) Total costs and expenses ( 14,693 ) ( 15,998 ) 1,876 1,923 Income/(loss) from operating investments, net 67 ( 27 ) General and administrative expense ( 1,161 ) ( 1,304 ) Research and development expense, net ( 868 ) ( 741 ) Loss from operations ( 86 ) ( 149 ) Other income, net 277 302 Interest and debt expense ( 569 ) ( 649 ) Loss before income taxes ( 378 ) ( 496 ) Income tax benefit 23 71 Net loss ( 355 ) ( 425 ) Less: net loss attributable to noncontrolling interest ( 12 ) ( 11 ) Net loss attributable to Boeing Shareholders ($ 343 ) ($ 414 ) Basic loss per share ($ 0.56 ) ($ 0.69 ) Diluted loss per share ($ 0.56 ) ($ 0.69 ) Weighted average diluted shares (millions) 613.2 602.5 See Notes to the Condensed Consolidated Financial Statements. 1 Table of Contents The Boeing Company and Subsidiaries Condensed Consolidated Statements of Comprehensive Income (Unaudited) (Dollars in millions) Three months ended March 31 2024 2023 Net loss ($ 355 ) ($ 425 ) Other comprehensive (loss)/income, net of tax: Currency translation adjustments ( 35 ) 16 Derivative instruments: Unrealized (losses)/gains arising during period, net of tax of $ 19 and ($ 5 ) ( 65 ) 18 Reclassification adjustment for losses/(gains) included in net loss, net of tax of ($ 2 ) and $ 1 7 ( 5 ) Total unrealized (loss)/gain on derivative instruments, net of tax ( 58 ) 13 Defined benefit pension plans and other postretirement benefits: Net actuarial loss arising during the period, net of tax of $ 17 and $ 2 ( 19 ) ( 7 ) Amortization of actuarial losses/(gains) included in net

View Full Filing

View this 10-Q filing on SEC EDGAR