Boeing Reports Record 2018 Results and Provides 2019 Guidance

 

The Boeing Company and Subsidiaries

Summary of Business Segment Data

(Unaudited)



Twelve months ended
December 31


Three months ended
December 31

(Dollars in millions)

2018


2017


2018


2017

Revenues:








Commercial Airplanes

$60,715


$58,014


$17,306


$15,388

Defense, Space & Security

23,195


20,561


6,111


5,257

Global Services

17,018


14,581


4,894


3,797

Boeing Capital

274


307


60


73

Unallocated items, eliminations and other

(75)


542


(30)


255

Total revenues

$101,127


$94,005


$28,341


$24,770

Earnings from operations:








Commercial Airplanes

$7,879


$5,452


$2,704


$1,787

Defense, Space & Security

1,594


2,193


669


544

Global Services

2,522


2,246


732


559

Boeing Capital

79


114


8


27

Segment operating profit

12,074


10,005


4,113


2,917

Unallocated items, eliminations and other

(1,414)


(1,099)


(246)


(328)

FAS/CAS service cost adjustment

1,327


1,438


308


389

Earnings from operations

11,987


10,344


4,175


2,978

Other income/(loss), net

92


123


29


32

Interest and debt expense

(475)


(360)


(158)


(93)

Earnings before income taxes

11,604


10,107


4,046


2,917

Income tax expense

(1,144)


(1,649)


(622)


403

Net earnings

$10,460


$8,458


$3,424


$3,320









Research and development expense, net:








Commercial Airplanes

$2,188


$2,247


$572


$492

Defense, Space & Security

788


834


175


235

Global Services

161


140


42


39

Other

132


(42)


63


(4)

Total research and development expense, net

$3,269


$3,179


$852


$762









Unallocated items, eliminations and other:








Share-based plans

($76)


($77)


($16)


($10)

Deferred compensation

(19)


(240)


93


(66)

Amortization of previously capitalized interest

(92)


(96)


(25)


(28)

Eliminations and other unallocated items

(1,227)


(686)


(298)


(224)

Sub-total (included in core operating earnings)

(1,414)


(1,099)


(246)


(328)

Pension FAS/CAS service cost adjustment

1,005


1,127


225


316

Postretirement FAS/CAS service cost adjustment

322


311


83


73

FAS/CAS service cost adjustment

$1,327


$1,438


$308


$389

Total

($87)


$339


$62


$61


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