Document And Entity Information
Document And Entity Information - USD ($) $ in Billions | 12 Months Ended | ||
Dec. 31, 2016 | Feb. 01, 2017 | Jun. 30, 2016 | |
Document and Entity Information [Abstract] | |||
Document Type | 10-K | ||
Amendment Flag | false | ||
Document Period End Date | Dec. 31, 2016 | ||
Document Fiscal Year Focus | 2,016 | ||
Document Fiscal Period Focus | FY | ||
Entity Registrant Name | BOEING CO | ||
Entity Central Index Key | 12,927 | ||
Current Fiscal Year End Date | --12-31 | ||
Entity Filer Category | Large Accelerated Filer | ||
Entity Current Reporting Status | Yes | ||
Entity Voluntary Filers | No | ||
Entity Well-known Seasoned Issuer | Yes | ||
Entity Common Stock, Shares Outstanding | 612,478,643 | ||
Entity Public Float | $ 81.3 |
Consolidated Statements Of Oper
Consolidated Statements Of Operations - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Income Statement [Abstract] | |||
Sales of products | $ 84,399 | $ 85,255 | $ 80,688 |
Sales of services | 10,172 | 10,859 | 10,074 |
Total revenues | 94,571 | 96,114 | 90,762 |
Cost of products | (72,713) | (73,446) | (68,551) |
Cost of services | (8,018) | (8,578) | (8,132) |
Boeing Capital interest expense | (59) | (64) | (69) |
Total costs and expenses | (80,790) | (82,088) | (76,752) |
Gross profit | 13,781 | 14,026 | 14,010 |
Income from operating investments, net | 303 | 274 | 287 |
General and administrative expense | (3,616) | (3,525) | (3,767) |
Research and development expense, net | (4,627) | (3,331) | (3,047) |
Loss on dispositions, net | (7) | (1) | (10) |
Earnings from operations | 5,834 | 7,443 | 7,473 |
Other income/(loss), net | 40 | (13) | (3) |
Interest and debt expense | (306) | (275) | (333) |
Earnings before income taxes | 5,568 | 7,155 | 7,137 |
Income tax expense | (673) | (1,979) | (1,691) |
Net earnings | $ 4,895 | $ 5,176 | $ 5,446 |
Basic earnings per share | $ 7.70 | $ 7.52 | $ 7.47 |
Diluted earnings per share | $ 7.61 | $ 7.44 | $ 7.38 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Net earnings | $ 4,895 | $ 5,176 | $ 5,446 |
Currency translation adjustments | (104) | (92) | (97) |
Other Comprehensive Income (Loss), Available-for-sale Securities Adjustment, Net of Tax of $1, ($5), and $0 | (2) | 8 | |
Unrealized gain/(loss) on derivative instruments: | |||
Unrealized (loss) arising during period, net of tax of $4, $77, and $77 | (8) | (140) | (137) |
Reclassification adjustment for loss included in net earnings, net of tax of ($43), ($43) and ($4) | 78 | 79 | 7 |
Total unrealized gain/(loss) on derivative instruments, net of tax | 70 | (61) | (130) |
Defined benefit pension plans & other postretirement benefits: | |||
Net actuarial (loss) arising during the period, net of tax of $752, $402 and $2,588 | (1,365) | (732) | (4,612) |
Amortization of actuarial losses included in net periodic pension cost, net of tax of ($288), ($570) and ($367) | 524 | 1,038 | 661 |
Settlements and curtailments included in net income, net of tax of ($7), ($27) and ($101) | 14 | 51 | 180 |
Pension and postretirement benefit/(cost) related to our equity method investments, net of tax ($7), ($2) and $15 | 12 | 3 | (27) |
Amortization of prior service (credits)/cost included in net periodic pension cost, net of tax of $31, ($22) and ($12) | (57) | 38 | 21 |
Prior service cost/(credits) arising during the period, net of tax of ($18), ($496) and $3 | 33 | 902 | (5) |
Total defined benefit pension plans & other postretirement benefits, net of tax | (839) | 1,300 | (3,782) |
Other comprehensive (loss)/income, net of tax | (875) | 1,155 | (4,009) |
Comprehensive (loss)/income related to noncontrolling interests | (1) | (3) | 10 |
Comprehensive income, net of tax | $ 4,019 | $ 6,328 | $ 1,447 |
Consolidated Statements of Com4
Consolidated Statements of Comprehensive Income (Parenthetical) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Statement of Comprehensive Income [Abstract] | |||
Unrealized gain on certain investments, tax | $ 1 | $ (5) | $ 0 |
Unrealized (loss)/gain on derivative instruments: | |||
Unrealized loss arising during period, tax | 4 | 77 | 77 |
Reclassification adjustment for loss/(gain) included in net earnings, tax | (43) | (43) | (4) |
Defined benefit pension plans & other postretirement benefits: | |||
Net actuarial gain/(loss) arising during the period, tax | 752 | 402 | 2,588 |
Amortization of actuarial losses included in net periodic pension cost, tax | (288) | (570) | (367) |
Settlements and curtailments included in net income, tax | (7) | (27) | (101) |
Pension and post retirement benefits related to our equity method investments, tax | (7) | (2) | 15 |
Amortization of prior service cost included in net periodic pension cost, tax | 31 | (22) | (12) |
Prior service cost arising during the period, tax | $ (18) | $ (496) | $ 3 |
Consolidated Statements Of Fina
Consolidated Statements Of Financial Position - USD ($) $ in Millions | Dec. 31, 2016 | Dec. 31, 2015 | |
Assets | |||
Cash and cash equivalents | $ 8,801 | $ 11,302 | |
Short-term and other investments | 1,228 | 750 | |
Accounts receivable, net | 8,832 | 8,713 | |
Current portion of customer financing, net | 428 | 212 | |
Inventories, net of advances and progress billings | 43,199 | 47,257 | |
Total current assets | 62,488 | 68,234 | |
Customer financing, net | 3,773 | 3,358 | |
Property, plant and equipment, net | 12,807 | 12,076 | |
Goodwill | 5,324 | 5,126 | |
Acquired intangible assets, net | 2,540 | 2,657 | |
Deferred income taxes | 332 | 265 | |
Investments | 1,317 | 1,284 | |
Other assets, net of accumulated amortization of $497 and $451 | 1,416 | 1,408 | |
Total assets | 89,997 | 94,408 | |
Liabilities and equity | |||
Accounts payable | 11,190 | 10,800 | |
Accrued liabilities | 14,691 | 14,014 | |
Advances and billings in excess of related costs | 23,869 | 24,364 | |
Short-term debt and current portion of long-term debt | 384 | 1,234 | |
Total current liabilities | 50,134 | 50,412 | |
Deferred income taxes | 1,338 | 2,392 | |
Accrued retiree health care | 5,916 | 6,616 | |
Accrued pension plan liability, net | 19,943 | 17,783 | |
Other long-term liabilities | 2,221 | 2,078 | |
Long-term debt | 9,568 | 8,730 | |
Shareholders' equity: | |||
Common stock, par value $5.00 – 1,200,000,000 shares authorized; 1,012,261,159 shares issued | 5,061 | 5,061 | |
Additional paid-in capital | 4,762 | 4,834 | |
Treasury stock, at cost | (36,097) | (29,568) | |
Retained earnings | 40,714 | 38,756 | |
Accumulated other comprehensive loss | [1] | (13,623) | (12,748) |
Total shareholders’ equity | 817 | 6,335 | |
Noncontrolling interests | 60 | 62 | |
Total equity | 877 | 6,397 | |
Total liabilities and equity | $ 89,997 | $ 94,408 | |
[1] | Net of tax. |
Consolidated Statements Of Fin6
Consolidated Statements Of Financial Position (Parenthetical) - USD ($) $ in Millions | Dec. 31, 2016 | Dec. 31, 2015 |
Statement of Financial Position [Abstract] | ||
Other assets, accumulated amortization | $ 497 | $ 451 |
Common stock, par value | $ 5 | $ 5 |
Common stock, authorized | 1,200,000,000 | 1,200,000,000 |
Common stock, shares issued | 1,012,261,159 | 1,012,261,159 |
Consolidated Statements Of Cash
Consolidated Statements Of Cash Flows - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Cash flows - operation activities: | |||
Net earnings | $ 4,895 | $ 5,176 | $ 5,446 |
Non-cash items - | |||
Share-based plans expense | 190 | 189 | 195 |
Depreciation and amortization | 1,910 | 1,833 | 1,906 |
Investment/asset impairment charges, net | 90 | 167 | 229 |
Customer financing valuation benefit | (7) | (5) | (28) |
Loss on dispositions, net | 7 | 1 | 10 |
Other charges and credits, net | 369 | 364 | 317 |
Excess tax benefits from share-based payment arrangements | (157) | (114) | |
Changes in assets and liabilities – | |||
Accounts receivable | 112 | (1,069) | (1,328) |
Inventories, net of advances and progress billings | 3,755 | (1,110) | (4,330) |
Accounts payable | 622 | (238) | 1,339 |
Accrued liabilities | 726 | 2 | (1,088) |
Advances and billings in excess of related costs | (493) | 1,192 | 3,145 |
Income taxes receivable, payable and deferred | (810) | 477 | 1,325 |
Other long-term liabilities | (68) | 46 | 36 |
Pension and other postretirement plans | 153 | 2,470 | 1,186 |
Customer financing, net | (696) | 167 | 578 |
Other | (256) | (142) | 34 |
Net cash provided by operating activities | 10,499 | 9,363 | 8,858 |
Cash flows - investing activities: | |||
Property, plant and equipment additions | (2,613) | (2,450) | (2,236) |
Property, plant and equipment reductions | 38 | 42 | 34 |
Acquisitions, net of cash acquired | (297) | (31) | (163) |
Contributions to investments | (1,719) | (2,036) | (8,617) |
Proceeds from investments | 1,209 | 2,590 | 13,416 |
Other | 2 | 39 | 33 |
Net cash (used)/provided by investing activities | (3,380) | (1,846) | 2,467 |
Cash flows - financing activities | |||
New borrowings | 1,325 | 1,746 | 962 |
Debt repayments | (1,359) | (885) | (1,601) |
Repayments of distribution rights and other asset financing | (24) | (185) | |
Stock options exercised | 321 | 399 | 343 |
Excess tax benefits from share-based payment arrangements | 157 | 114 | |
Employee taxes on certain share-based payment arrangements | (93) | (96) | (98) |
Common shares repurchased | (7,001) | (6,751) | (6,001) |
Dividends paid | (2,756) | (2,490) | (2,115) |
Proceeds from (Payments for) Other Financing Activities | (12) | ||
Net cash used by financing activities | (9,587) | (7,920) | (8,593) |
Effect of exchange rate changes on cash and cash equivalents | (33) | (28) | (87) |
Net (decrease)/increase in cash and cash equivalents | (2,501) | (431) | 2,645 |
Cash and cash equivalents at beginning of year | 11,302 | 11,733 | 9,088 |
Cash and cash equivalents at end of year | $ 8,801 | $ 11,302 | $ 11,733 |
Consolidated Statements Of Equi
Consolidated Statements Of Equity - USD ($) $ in Millions | Total | Common Stock [Member] | Additional Paid-In Capital [Member] | Treasury Stock [Member] | Retained Earnings [Member] | Accumulated Other Comprehensive Loss [Member] | Non-Controlling Interest [Member] |
Beginning Balance at Dec. 31, 2013 | $ 14,997 | $ 5,061 | $ 4,415 | $ (17,671) | $ 32,964 | $ (9,894) | $ 122 |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||||
Net earnings | 5,456 | 5,446 | 10 | ||||
Other Comprehensive Income (Loss), Portion Attributable to Parent, net of tax of $425 in 2016, ($686) in 2015, and $2,199 in 2014 | (4,009) | (4,009) | |||||
Share-based compensation and related dividend equivalents | 188 | 208 | (20) | ||||
Excess tax pools | 114 | 114 | |||||
Treasury shares issued for stock options exercised, net | 343 | 17 | 326 | ||||
Treasury shares issued for other share-based plans, net | (81) | (129) | 48 | ||||
Common shares repurchased | (6,001) | (6,001) | |||||
Cash dividends declared of $4.69 per share in 2016, $3.82 per share in 2015, and $3.10 per share in 2014 | (2,210) | (2,210) | |||||
Changes in noncontrolling interests | (7) | (7) | |||||
Ending Balance at Dec. 31, 2014 | 8,790 | 5,061 | 4,625 | (23,298) | 36,180 | (13,903) | 125 |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||||
Net earnings | 5,173 | 5,176 | (3) | ||||
Other Comprehensive Income (Loss), Portion Attributable to Parent, net of tax of $425 in 2016, ($686) in 2015, and $2,199 in 2014 | 1,155 | 1,155 | |||||
Share-based compensation and related dividend equivalents | 189 | 214 | (25) | ||||
Excess tax pools | 158 | 158 | |||||
Treasury shares issued for stock options exercised, net | 399 | (29) | 428 | ||||
Treasury shares issued for other share-based plans, net | (81) | (134) | 53 | ||||
Common shares repurchased | (6,751) | (6,751) | |||||
Cash dividends declared of $4.69 per share in 2016, $3.82 per share in 2015, and $3.10 per share in 2014 | (2,575) | (2,575) | |||||
Changes in noncontrolling interests | (60) | (60) | |||||
Ending Balance at Dec. 31, 2015 | 6,397 | 5,061 | 4,834 | (29,568) | 38,756 | (12,748) | 62 |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||||
Net earnings | 4,894 | (1) | |||||
Other Comprehensive Income (Loss), Portion Attributable to Parent, net of tax of $425 in 2016, ($686) in 2015, and $2,199 in 2014 | (875) | (875) | |||||
Share-based compensation and related dividend equivalents | 209 | 244 | (35) | ||||
Excess tax pools | (84) | (84) | |||||
Treasury shares issued for stock options exercised, net | 320 | (63) | 383 | ||||
Treasury shares issued for other share-based plans, net | (80) | (169) | 89 | ||||
Common shares repurchased | (7,001) | (7,001) | |||||
Cash dividends declared of $4.69 per share in 2016, $3.82 per share in 2015, and $3.10 per share in 2014 | (2,902) | (2,902) | |||||
Changes in noncontrolling interests | (1) | (1) | |||||
Ending Balance at Dec. 31, 2016 | $ 877 | $ 5,061 | $ 4,762 | $ (36,097) | $ 40,714 | $ (13,623) | $ 60 |
Consolidated Statements Of Equ9
Consolidated Statements Of Equity (Parenthetical) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Statement of Stockholders' Equity [Abstract] | |||
Other Comprehensive Income (loss), Tax | $ 425 | $ (686) | $ 2,199 |
Cash dividends declared, per share | $ 4.69 | $ 3.82 | $ 3.10 |
Summary of Business Segment Dat
Summary of Business Segment Data (Notes) | 12 Months Ended |
Dec. 31, 2016 | |
Segment Reporting, Disclosure of Entity's Reportable Segments [Abstract] | |
Summary Of Business Segment Data | The Boeing Company and Subsidiaries Notes to the Consolidated Financial Statements Summary of Business Segment Data (Dollars in millions) Years ended December 31, 2016 2015 2014 Revenues: Commercial Airplanes $65,069 $66,048 $59,990 Defense, Space & Security: Boeing Military Aircraft 12,515 13,424 13,410 Network & Space Systems 7,046 7,751 8,003 Global Services & Support 9,937 9,213 9,468 Total Defense, Space & Security 29,498 30,388 30,881 Boeing Capital 298 413 416 Unallocated items, eliminations and other (294 ) (735 ) (525 ) Total revenues $94,571 $96,114 $90,762 Earnings from operations: Commercial Airplanes $3,130 $5,157 $6,411 Defense, Space & Security: Boeing Military Aircraft 1,231 1,311 1,294 Network & Space Systems 493 726 698 Global Services & Support 1,284 1,237 1,141 Total Defense, Space & Security 3,008 3,274 3,133 Boeing Capital 59 50 92 Segment operating profit 6,197 8,481 9,636 Unallocated items, eliminations and other (363 ) (1,038 ) (2,163 ) Earnings from operations 5,834 7,443 7,473 Other income/(loss), net 40 (13 ) (3 ) Interest and debt expense (306 ) (275 ) (333 ) Earnings before income taxes 5,568 7,155 7,137 Income tax expense (673 ) (1,979 ) (1,691 ) Net earnings $4,895 $5,176 $5,446 This information is an integral part of the Notes to the Consolidated Financial Statements. See Note 21 for further segment results. |
Summary Of Significant Accounti
Summary Of Significant Accounting Policies | 12 Months Ended |
Dec. 31, 2016 | |
Accounting Policies [Abstract] | |
Summary Of Significant Accounting Policies | Summary of Significant Accounting Policies Principles of Consolidation and Basis of Presentation The Consolidated Financial Statements included in this report have been prepared by management of The Boeing Company (herein referred to as “Boeing,” the “Company,” “we,” “us,” or “our”). These statements include the accounts of all majority-owned subsidiaries and variable interest entities that are required to be consolidated. All significant intercompany accounts and transactions have been eliminated. Certain amounts have been reclassified to conform to the current year presentation. In March 2016, the FASB issued ASU No. 2016-09, Improvements to Employee Share-Based Payment Accounting . The new standard is effective for reporting periods beginning after December 15, 2016 and early adoption is permitted. The standard requires excess tax benefits or deficiencies for share-based payments to be recorded in the period shares vest or settle as income tax expense or benefit, rather than within Additional paid-in capital. Cash flows related to excess tax benefits will be included in Net cash provided by operating activities and will no longer be separately classified as a financing activity. The standard also allows us to repurchase more of an employee’s shares for tax withholding purposes and provides an accounting policy election to account for forfeitures as they occur. We have elected to continue to estimate forfeitures and are not planning to change tax withholdings. The Company prospectively adopted the standard during the second quarter of 2016 effective January 1, 2016. For the year ended December 31, 2016, this resulted in an increase of $105 to Net earnings and $0.16 to diluted earnings per share. Adoption also resulted in a $105 increase in Net cash provided by operating activities and a corresponding $105 reduction in Net cash used by financing activities for the year ended December 31, 2016. Standards Issued and Not Yet Implemented In February 2016, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) No. 2016 - 02, Leases (Topic 842) . The new standard is effective for reporting periods beginning after December 15, 2018 and early adoption is permitted. The standard will require lessees to report most leases as assets and liabilities on the balance sheet, while lessor accounting will remain substantially unchanged. The standard requires a modified retrospective transition approach for existing leases, whereby the new rules will be applied to the earliest year presented. We do not expect the new lease standard to have a material effect on our financial position, results of operations or cash flows. We plan to implement ASU No. 2014-09, Revenue from Contracts with Customers in the first quarter of 2018. This comprehensive new standard will supersede existing revenue recognition guidance and require revenue to be recognized when promised goods or services are transferred to customers in amounts that reflect the consideration to which the company expects to be entitled in exchange for those goods or services. The standard also requires expanded disclosures regarding revenue and contracts with customers. The guidance permits two implementation approaches, one requiring retrospective application of the new standard with restatement of prior years and one requiring prospective application of the new standard with disclosure of results under old standards. The Company plans to adopt the new standard effective January 1, 2018 and apply it retrospectively to all periods presented. We are analyzing the impact of the new standard on the Company’s revenue contracts, comparing our current accounting policies and practices to the requirements of the new standard, and identifying potential differences that would result from applying the new standard to our contracts. We are also identifying and implementing changes to the Company’s business processes, systems and controls to support adoption of the new standard in 2018 and recasting prior periods’ financial information. We expect adoption of the new standard will have a material impact on our income statement and balance sheet but are unable to quantify those impacts at this time. We currently expect that most of our BDS contracts that currently recognize revenue as deliveries are made or based on the attainment of performance milestones will recognize revenue under the new standard as costs are incurred. Certain military derivative aircraft contracts in our Commercial Airplane business will also recognize revenue as costs are incurred. The new standard will not change the total amount of revenue recognized on these contracts, only accelerate the timing of when the revenue is recognized. We expect a corresponding acceleration in timing of cost of sales recognition for these contracts resulting in a decrease in Inventories from long-term contracts in progress upon adoption of the new standard. We do not expect the new standard to affect revenue recognition or the use of program accounting for commercial airplane contracts in our Commercial Airplane business. We will continue to recognize revenue for these contracts at the point in time when the customer accepts delivery of the airplane. From a balance sheet perspective we expect adoption of the new standard will increase Total Assets and Total Liabilities because netting of advances from customers against inventory will no longer be permitted. This will result in an increase in the Advances liability and Inventories from commercial aircraft programs upon adoption of the new standard. Use of Estimates Management makes assumptions and estimates to prepare financial statements in conformity with accounting principles generally accepted in the United States of America. Those assumptions and estimates directly affect the amounts reported in the Consolidated Financial Statements. Significant estimates for which changes in the near term are considered reasonably possible and that may have a material impact on the financial statements are disclosed in these Notes to the Consolidated Financial Statements. Operating Cycle For classification of certain current assets and liabilities, we use the duration of the related contract or program as our operating cycle, which is generally longer than one year . Revenue and Related Cost Recognition Contract Accounting Contract accounting is used for development and production activities predominantly by Defense, Space & Security ( BDS ). The majority of business conducted by BDS is performed under contracts with the U.S. government and other customers that extend over several years. Contract accounting involves a judgmental process of estimating total sales and costs for each contract resulting in the development of estimated cost of sales percentages. For each contract, the amount reported as cost of sales is determined by applying the estimated cost of sales percentage to the amount of revenue recognized. When the current estimates of total sales and costs for a contract indicate a loss, a provision for the entire loss on the contract is recognized. Changes in estimated revenues, cost of sales and the related effect on operating income are recognized using a cumulative catch-up adjustment which recognizes in the current period the cumulative effect of the changes on current and prior periods based on a contract’s percent complete. In 2016 and 2015 , net unfavorable cumulative catch-up adjustments, including reach-forward losses, across all contracts decreased Earnings from operations by $912 and $224 and diluted EPS by $1.25 and $0.23 . In 2014 net favorable cumulative catch-up adjustments, including reach-forward losses, across all contracts increased Earnings from operations by $100 and diluted EPS by $0.10 . Significant adjustments during the three years ended December 31, 2016 included reach-forward losses of $1,128 , $835 and $425 on the USAF KC-46A Tanker contract recorded during 2016 , 2015 and 2014 . We combine contracts for accounting purposes when they are negotiated as a package with an overall profit margin objective. These essentially represent an agreement to do a single project for a single customer, involve interrelated construction activities with substantial common costs, and are performed concurrently or sequentially. When a group of contracts is combined, revenue and profit are earned uniformly over the performance of the combined contracts. Similarly, we may segment a single contract or group of contracts when a clear economic decision has been made during contract negotiations that would produce different rates of profitability for each element or phase of the contract. Sales related to fixed-price contracts are recognized as deliveries are made, except for certain fixed-price contracts that require substantial performance over an extended period before deliveries begin, for which sales are recorded based on the attainment of performance milestones. Sales related to contracts in which we are reimbursed for costs incurred plus an agreed upon profit are recorded as costs are incurred. The Federal Acquisition Regulations provide guidance on the types of cost that will be reimbursed in establishing contract price. Contracts may contain provisions to earn incentive and award fees if specified targets are achieved. Incentive and award fees that can be reasonably estimated and are probable are recorded over the performance period of the contract. Incentive and award fees that cannot be reasonably estimated are recorded when awarded. Program Accounting Our Commercial Airplanes segment predominantly uses program accounting to account for cost of sales related to its programs. Program accounting is applicable to products manufactured for delivery under production-type contracts where profitability is realized over multiple contracts and years. Under program accounting, inventoriable production costs, program tooling and other non-recurring costs, and warranty costs are accumulated and charged to cost of sales by program instead of by individual units or contracts. A program consists of the estimated number of units (accounting quantity) of a product to be produced in a continuing, long-term production effort for delivery under existing and anticipated contracts. The determination of the accounting quantity is limited by the ability to make reasonably dependable estimates of the revenue and cost of existing and anticipated contracts. To establish the relationship of sales to cost of sales, program accounting requires estimates of (a) the number of units to be produced and sold in a program, (b) the period over which the units can reasonably be expected to be produced, and (c) the units’ expected sales prices, production costs, program tooling and other non-recurring costs, and routine warranty costs for the total program. We recognize sales for commercial airplane deliveries as each unit is completed and accepted by the customer. Sales recognized represent the price negotiated with the customer, adjusted by an escalation formula as specified in the customer agreement. The amount reported as cost of sales is determined by applying the estimated cost of sales percentage for the total remaining program to the amount of sales recognized for airplanes delivered and accepted by the customer. Changes in estimated revenues, cost of sales and the related effects on program margins are recognized prospectively except in cases where the program is determined to have a reach-forward loss in which case the loss is recognized in the current period. See Note 11 . Concession Sharing Arrangements We account for sales concessions to our customers in consideration of their purchase of products and services as a reduction to revenue when the related products and services are delivered. The sales concessions incurred may be partially reimbursed by certain suppliers in accordance with concession sharing arrangements. We record these reimbursements, which are presumed to represent reductions in the price of the vendor’s products or services, as a reduction in Cost of products. Spare Parts Revenue We recognize sales of spare parts upon delivery and the amount reported as cost of sales is recorded at average cost. Service Revenue Service revenue is recognized when the service is performed with the exception of U.S. government service agreements, which are accounted for using contract accounting. Service activities primarily include: support agreements associated with military aircraft and helicopter contracts, space travel on Commercial Crew, ongoing maintenance of International Space Station, and technical and flight operation services for commercial aircraft. Service revenue and associated cost of sales from pay-in-advance subscription fees are deferred and recognized as services are rendered. Financial Services Revenue We record financial services revenue associated with sales-type/finance leases, operating leases, and notes receivable. Lease and financing revenue arrangements are included in Sales of services on the Consolidated Statements of Operations. For sales-type/finance leases, we record an asset at lease inception. This asset is recorded at the aggregate future minimum lease payments, estimated residual value of the leased equipment, and deferred incremental direct costs less unearned income. Income is recognized over the life of the lease to approximate a level rate of return on the net investment. Residual values, which are reviewed periodically, represent the estimated amount we expect to receive at lease termination from the disposition of the leased equipment. Actual residual values realized could differ from these estimates. Declines in estimated residual value that are deemed other-than-temporary are recognized in the period in which the declines occur. For operating leases, revenue on leased aircraft and equipment is recorded on a straight-line basis over the term of the lease. Operating lease assets, included in Customer financing, are recorded at cost and depreciated over the period that we project we will hold the asset to an estimated residual value, using the straight-line method. We periodically review our estimates of residual value and recognize forecasted changes by prospectively adjusting depreciation expense. For notes receivable, notes are recorded net of any unamortized discounts and deferred incremental direct costs. Interest income and amortization of any discounts are recorded ratably over the related term of the note. Reinsurance Revenue Our wholly-owned insurance subsidiary, Astro Ltd., participates in a reinsurance pool for workers’ compensation. The member agreements and practices of the reinsurance pool minimize any participating members’ individual risk. Reinsurance revenues were $147 , $136 and $135 during 2016 , 2015 and 2014 , respectively. Reinsurance costs related to premiums and claims paid to the reinsurance pool were $139 , $132 and $144 during 2016 , 2015 and 2014 , respectively. Revenues and costs are presented net in Cost of sales in the Consolidated Statements of Operations. Fleet Support We provide assistance and services to facilitate efficient and safe aircraft operation to the operators of all our commercial airplane models. Collectively known as fleet support services, these activities and services include flight and maintenance training, field service support, engineering services, and technical data and documents. Fleet support activity begins prior to aircraft delivery as the customer receives training, manuals, and technical consulting support. This activity continues throughout the aircraft’s operational life. Services provided after delivery include field service support, consulting on maintenance, repair, and operational issues brought forth by the customer or regulators, updating manuals and engineering data, and the issuance of service bulletins that impact the entire model’s fleet. Field service support involves our personnel located at customer facilities providing and coordinating fleet support activities and requests. The costs for fleet support are expensed as incurred as Cost of services. Research and Development Research and development includes costs incurred for experimentation, design, and testing, as well as bid and proposal efforts related to government products and services which are expensed as incurred unless the costs are related to certain contractual arrangements with customers. Costs that are incurred pursuant to such contractual arrangements are recorded over the period that revenue is recognized, consistent with our contract accounting policy. We have certain research and development arrangements that meet the requirement for best efforts research and development accounting. Accordingly, the amounts funded by the customer are recognized as an offset to our research and development expense rather than as contract revenues. Research and development expense included bid and proposal costs of $311 , $286 and $289 in 2016 , 2015 and 2014 , respectively. We have established cost sharing arrangements with some suppliers for the 787 program. Our cost sharing arrangements state that the supplier contributions are for reimbursements of costs we incur for experimentation, basic design, and testing activities during the 787 development. In each arrangement, we retain substantial rights to the 787 part or component covered by the arrangement. The amounts received from these cost sharing arrangements are recorded as a reduction to research and development expenses since we have no obligation to refund any amounts received per the arrangements regardless of the outcome of the development efforts. Specifically, under the terms of each agreement, payments received from suppliers for their share of the costs are typically based on milestones and are recognized as earned when we achieve the milestone events and no ongoing obligation on our part exists. In the event we receive a milestone payment prior to the completion of the milestone, the amount is classified in Accrued liabilities until earned. Share-Based Compensation We provide various forms of share-based compensation to our employees. For awards settled in shares, we measure compensation expense based on the grant-date fair value net of estimated forfeitures. For awards settled in cash, or that may be settled in cash, we measure compensation expense based on the fair value at each reporting date net of estimated forfeitures. The expense is recognized over the requisite service period, which is generally the vesting period of the award. Income Taxes Provisions for federal, state, and non-U.S. income taxes are calculated on reported Earnings before income taxes based on current tax law and also include, in the current period, the cumulative effect of any changes in tax rates from those used previously in determining deferred tax assets and liabilities. Such provisions differ from the amounts currently receivable or payable because certain items of income and expense are recognized in different time periods for financial reporting purposes than for income tax purposes. Significant judgment is required in determining income tax provisions and evaluating tax positions. The accounting for uncertainty in income taxes requires a more-likely-than-not threshold for financial statement recognition and measurement of tax positions taken or expected to be taken in a tax return. We record a liability for the difference between the benefit recognized and measured for financial statement purposes and the tax position taken or expected to be taken on our tax return. To the extent that our assessment of such tax positions changes, the change in estimate is recorded in the period in which the determination is made. Tax-related interest and penalties are classified as a component of Income tax expense. Postretirement Plans The majority of our employees have earned benefits under defined benefit pension plans. Nonunion and the majority of union employees that had participated in defined benefit pension plans transitioned to a company-funded defined contribution retirement savings plan in 2016. We also provide postretirement benefit plans other than pensions, consisting principally of health care coverage to eligible retirees and qualifying dependents. Benefits under the pension and other postretirement benefit plans are generally based on age at retirement and years of service and, for some pension plans, benefits are also based on the employee’s annual earnings. The net periodic cost of our pension and other postretirement plans is determined using the projected unit credit method and several actuarial assumptions, the most significant of which are the discount rate, the long-term rate of asset return, and medical trend (rate of growth for medical costs). A portion of net periodic pension and other postretirement income or expense is not recognized in net earnings in the year incurred because it is allocated to production as product costs, and reflected in inventory at the end of a reporting period. Actuarial gains and losses, which occur when actual experience differs from actuarial assumptions, are reflected in Shareholders’ equity (net of taxes). If actuarial gains and losses exceed ten percent of the greater of plan assets or plan liabilities we amortize them over the average future service period of employees. The funded status of our pension and postretirement plans is reflected on the Consolidated Statements of Financial Position. Postemployment Plans We record a liability for postemployment benefits, such as severance or job training, when payment is probable, the amount is reasonably estimable, and the obligation relates to rights that have vested or accumulated. Environmental Remediation We are subject to federal and state requirements for protection of the environment, including those for discharge of hazardous materials and remediation of contaminated sites. We routinely assess, based on in-depth studies, expert analyses and legal reviews, our contingencies, obligations, and commitments for remediation of contaminated sites, including assessments of ranges and probabilities of recoveries from other responsible parties and/or insurance carriers. Our policy is to accrue and charge to current expense identified exposures related to environmental remediation sites when it is probable that a liability has been incurred and the amount can be reasonably estimated. The amount of the liability is based on our best estimate or the low end of a range of reasonably possible exposure for investigation, cleanup, and monitoring costs to be incurred. Estimated remediation costs are not discounted to present value as the timing of payments cannot be reasonably estimated. We may be able to recover a portion of the remediation costs from insurers or other third parties. Such recoveries are recorded when realization of the claim for recovery is deemed probable. Cash and Cash Equivalents Cash and cash equivalents consist of highly liquid instruments, such as commercial paper, time deposits, and other money market instruments, which have original maturities of three months or less. We aggregate our cash balances by bank where conditions for right of set-off are met, and reclassify any negative balances, consisting mainly of uncleared checks, to Accounts payable. Negative balances reclassified to Accounts payable were $77 and $163 at December 31, 2016 and 2015 . Inventories Inventoried costs on commercial aircraft programs and long-term contracts include direct engineering, production and tooling and other non-recurring costs, and applicable overhead, which includes fringe benefits, production related indirect and plant management salaries and plant services, not in excess of estimated net realizable value. To the extent a material amount of such costs are related to an abnormal event or are fixed costs not appropriately attributable to our programs or contracts, they are expensed in the current period rather than inventoried. Inventoried costs include amounts relating to programs and contracts with long-term production cycles, a portion of which is not expected to be realized within one year. Included in inventory for federal government contracts is an allocation of allowable costs related to manufacturing process reengineering. Commercial aircraft programs inventory includes deferred production costs and supplier advances. Deferred production costs represent actual costs incurred for production of early units that exceed the estimated average cost of all units in the program accounting quantity. Higher production costs are experienced at the beginning of a new or derivative airplane program. Units produced early in a program require substantially more effort (labor and other resources) than units produced later in a program because of volume efficiencies and the effects of learning. We expect that these deferred costs will be fully recovered when all units included in the accounting quantity are delivered as the expected unit cost for later deliveries is below the estimated average cost of all units in the program. Supplier advances represent payments for parts we have contracted to receive from suppliers in the future. As parts are received, supplier advances are amortized to work in process. The determination of net realizable value of long-term contract costs is based upon quarterly reviews that estimate costs to be incurred to complete all contract requirements. When actual contract costs and the estimate to complete exceed total estimated contract revenues, a loss provision is recorded. The determination of net realizable value of commercial aircraft program costs is based upon quarterly program reviews that estimate revenue and cost to be incurred to complete the program accounting quantity. When estimated costs to complete exceed estimated program revenues to go, a program loss provision is recorded in the current period for the estimated loss on all undelivered units in the accounting quantity. Used aircraft purchased by the Commercial Airplanes segment and general stock materials are stated at cost not in excess of net realizable value. See ‘Aircraft Valuation’ within this Note for a discussion of our valuation of used aircraft. Spare parts inventory is stated at lower of average unit cost or net realizable value. We review our commercial spare parts and general stock materials quarterly to identify impaired inventory, including excess or obsolete inventory, based on historical sales trends, expected production usage, and the size and age of the aircraft fleet using the part. Impaired inventories are charged to Cost of products in the period the impairment occurs. Included in inventory for commercial aircraft programs are amounts paid or credited in cash, or other consideration to certain airline customers, that are referred to as early issue sales consideration. Early issue sales consideration is recognized as a reduction to revenue when the delivery of the aircraft under contract occurs. If an airline customer does not perform and take delivery of the contracted aircraft, we believe that we would have the ability to recover amounts paid. However, to the extent early issue sales consideration exceeds advances and is not considered to be otherwise recoverable, it would be written off in the current period. We net advances and progress billings on long-term contracts against inventory in the Consolidated Statements of Financial Position. Advances and progress billings in excess of related inventory are reported in Advances and billings in excess of related costs. Precontract Costs We may, from time to time, incur costs in excess of the amounts required for existing contracts. If we determine the costs are probable of recovery from future orders, then we capitalize the precontract costs we incur, excluding start-up costs which are expensed as incurred. Capitalized precontract costs are included in Inventories, net of advances and progress billings, in the accompanying Consolidated Statements of Financial Position. Should future orders not materialize or we determine the costs are no longer probable of recovery, the capitalized costs would be written off. Property, Plant and Equipment Property, plant and equipment are recorded at cost, including applicable construction-period interest, less accumulated depreciation and are depreciated principally over the following estimated useful lives: new buildings and land improvements, from 10 to 40 years; and new machinery and equipment, from 4 to 20 years. The principal methods of depreciation are as follows: buildings and land improvements, 150% declining balance; and machinery and equipment, sum-of-the-years’ digits. Capitalized internal use software is included in Other assets and amortized using the straight line method over 5 years. We periodically evaluate the appropriateness of remaining depreciable lives assigned to long-lived assets, including assets that may be subject to a management plan for disposition. Long-lived assets held for sale are stated at the lower of cost or fair value less cost to sell. Long-lived assets held for use are subject to an impairment assessment whenever events or changes in circumstances indicate that the carrying amount may not be recoverable. If the carrying value is no longer recoverable based upon the undiscounted future cash flows of the asset, the amount of the impairment is the difference between the carrying amount and the fair value of the asset. Asset Retirement Obligations We record all known asset retirement obligations for which the liability’s fair value can be reasonably estimated, including certain asbestos removal, asset decommissioning and contractual lease restoration obligations. Recorded amounts are not material. We also have known conditional asset retirement obligations, such as certain asbestos remediation and asset decommissioning activities to be performed in the future, that are not reasonably estimable due to insufficient information about the timing and method of settlement of the obligation. Accordingly, these obligations have not been recorded in the Consolidated Financial Statements. A liability for these obligations will be recorded in the period when sufficient information regarding timing and method of settlement becomes available to make a reasonable estimate of the liability’s fair value. In addition, there may be conditional asset retirement obligations that we have not yet discovered (e.g., asbestos may exist in certain buildings but we have not become aware of it through the normal course of business), and therefore, these obligations also have not been included in the Consolidated Financial Statements. Goodwill and Other Acquired Intangibles Goodwill and other acquired intangible assets with indefinite lives are not amortized, but are tested for impairment annually and when an event occurs or circumstances change such that it is more likely than not that an impairment may exist. Our annual testing date is April 1. We test goodwill for impairment by performing a qualitative assessment or using a two-step impairment process. If we choose to perform a qualitative assessment and determine it is more likely than not that the carrying value of the net assets is more than the fair value of the related operations, the two-step impairment process is then performed; otherwise, no further testing is required. For operations where the two-step impairment process is used, we first compare the carrying value of net assets to the fair value of the related operations. If the fair value is determined to be less than carrying value, a second step is performed to compute the amount of the impairment. In this process, a fair value for goodwill is estimated, based in part on the fair value of the operations, and is compared to its carrying value. The shortfall of the fair value below carrying value represents the amount of goodwill impairment. Indefinite-lived intangibles consist of brand and trade names acquired in business combinations. We test these intangibles for impairment by comparing their carrying value to current projections of discounted cash flows attributable to the brand and trade names. Any excess carrying value over the amount of discounted cash flows represents the amount of the impairment. Our finite-lived acquired intangible assets are amortized on a straight-line basis over their estimated useful lives as follows: developed technology, from 4 to 14 years; product know-how, from 3 to 30 years; customer base, from 3 to 17 years; distribution rights, from 3 to 27 years; and |
Goodwill And Acquired Intangibl
Goodwill And Acquired Intangibles | 12 Months Ended |
Dec. 31, 2016 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Goodwill and Acquired Intangibles | Goodwill and Acquired Intangibles Changes in the carrying amount of goodwill by reportable segment for the years ended December 31, 2016 and 2015 were as follows: Commercial Airplanes Boeing Military Aircraft Network & Space Systems Global Services & Support Total Balance at January 1, 2015 $2,131 $961 $1,566 $461 $5,119 Acquisitions 6 15 21 Goodwill adjustments (14 ) (14 ) Balance at December 31, 2015 $2,123 $976 $1,566 $461 $5,126 Acquisitions (1) 206 206 Goodwill adjustments (8 ) (8 ) Balance at December 31, 2016 (1) $2,115 $1,182 $1,566 $461 $5,324 (1) The increase in goodwill is primarily the result of an acquisition in the fourth quarter of 2016. The purchase price allocation for this acquisition is preliminary. As of December 31, 2016 and 2015 , we had indefinite-lived intangible assets with carrying amounts of $490 relating to trade names. The gross carrying amounts and accumulated amortization of our acquired finite-lived intangible assets were as follows at December 31: 2016 2015 Gross Carrying Amount Accumulated Amortization Gross Carrying Amount Accumulated Amortization Distribution rights $2,281 $797 $2,245 $673 Product know-how 503 271 503 244 Customer base 595 436 600 403 Developed technology 523 376 455 357 Other 194 166 198 157 Total $4,096 $2,046 $4,001 $1,834 Amortization expense for acquired finite-lived intangible assets for the years ended December 31, 2016 and 2015 was $220 and $224 . Estimated amortization expense for the five succeeding years is as follows: 2017 2018 2019 2020 2021 Estimated amortization expense $221 $210 $185 $157 $147 During 2016 and 2015 we acquired $113 and $15 of finite-lived intangible assets, of which $31 and $0 related to non-cash investing and financing transactions. |
Earnings Per Share
Earnings Per Share | 12 Months Ended |
Dec. 31, 2016 | |
Earnings Per Share [Abstract] | |
Earnings Per Share | Earnings Per Share Basic and diluted earnings per share are computed using the two-class method, which is an earnings allocation method that determines earnings per share for common shares and participating securities. The undistributed earnings are allocated between common shares and participating securities as if all earnings had been distributed during the period. Participating securities and common shares have equal rights to undistributed earnings. Basic earnings per share is calculated by taking net earnings, less earnings available to participating securities, divided by the basic weighted average common shares outstanding. Diluted earnings per share is calculated by taking net earnings, less earnings available to participating securities, divided by the diluted weighted average common shares outstanding. The elements used in the computation of basic and diluted earnings per share were as follows: (In millions - except per share amounts) Years ended December 31, 2016 2015 2014 Net earnings $4,895 $5,176 $5,446 Less: earnings available to participating securities 3 4 6 Net earnings available to common shareholders $4,892 $5,172 $5,440 Basic Basic weighted average shares outstanding 636.5 688.0 728.9 Less: participating securities 1.0 1.1 1.3 Basic weighted average common shares outstanding 635.5 686.9 727.6 Diluted Basic weighted average shares outstanding 636.5 688.0 728.9 Dilutive potential common shares (1) 7.3 8.1 9.1 Diluted weighted average shares outstanding 643.8 696.1 738.0 Less: participating securities 1.0 1.1 1.3 Diluted weighted average common shares outstanding 642.8 695.0 736.7 Net earnings per share: Basic $7.70 $7.52 $7.47 Diluted 7.61 7.44 7.38 (1) Diluted earnings per share includes any dilutive impact of stock options, restricted stock units, performance-based restricted stock units and performance awards. The following table includes the number of shares that may be dilutive potential common shares in the future. These shares were not included in the computation of diluted earnings per share because the effect was either antidilutive or the performance condition was not met. (Shares in millions) Years ended December 31, 2016 2015 2014 Performance awards 6.5 5.6 5.1 Performance-based restricted stock units 2.5 2.3 1.3 |
Income Taxes
Income Taxes | 12 Months Ended |
Dec. 31, 2016 | |
Income Tax Disclosure [Abstract] | |
Income Taxes | Income Taxes The components of earnings before income taxes were: Years ended December 31, 2016 2015 2014 U.S. $5,175 $6,828 $6,829 Non-U.S. 393 327 308 Total $5,568 $7,155 $7,137 Income tax expense/(benefit) consisted of the following: Years ended December 31, 2016 2015 2014 Current tax expense U.S. federal $1,193 $2,102 $676 Non-U.S. 133 122 91 U.S. state 15 21 69 Total current 1,341 2,245 836 Deferred tax expense U.S. federal (618 ) (297 ) 828 Non-U.S. (4 ) 4 34 U.S. state (46 ) 27 (7 ) Total deferred (668 ) (266 ) 855 Total income tax expense $673 $1,979 $1,691 Net income tax payments were $1,460 , $1,490 and $355 in 2016, 2015 and 2014 , respectively. The following is a reconciliation of the U.S. federal statutory tax rate of 35% to our effective income tax rates: Years ended December 31, 2016 2015 2014 U.S. federal statutory tax 35.0 % 35.0 % 35.0 % Research and development credits (5.2 ) (3.4 ) (2.9 ) Tax basis adjustment (1) (7.9 ) (3.6 ) U.S. manufacturing activity tax benefit (3.8 ) (2.9 ) (1.2 ) Tax on international activities (0.5 ) (0.6 ) (0.2 ) Excess tax benefits (2) (1.9 ) Federal audit settlements (3) (3.2 ) (3.6 ) Other provision adjustments (0.4 ) (0.4 ) 0.2 Effective income tax rate 12.1 % 27.7 % 23.7 % (1) In the third quarter of 2016 and the second quarter of 2014, we recorded incremental tax benefits of $440 and $265 related to the application of a 2012 Federal Court of Claims decision which held that the tax basis in certain assets could be increased (tax basis adjustment). (2) Throughout 2016, we recorded tax benefits of $105 as a result of the adoption of ASU 2016-09 “Improvements to Employee Share-Based Payment Accounting” which required excess tax benefits related to employee share-based payments to be recorded through tax expense. (3) In the third quarter of 2016, a tax benefit of $177 was recorded as a result of the settlement of the 2011-2012 federal tax audit. In the second quarter of 2014, tax benefits of $116 and $143 were recorded as a result of the 2007-2008 and 2009-2010 federal tax audit settlements. Federal income tax audits have been settled for all years prior to 2013. The Internal Revenue Service (IRS) began the 2013-2014 federal tax audit in the fourth quarter of 2016. We are also subject to examination in major state and international jurisdictions for the 2001-2016 tax years. We believe appropriate provisions for all outstanding tax issues have been made for all jurisdictions and all open years. Significant components of our deferred tax (liabilities)/assets at December 31 were as follows: 2016 2015 Inventory and long-term contract methods of income recognition (9,954 ) (10,401 ) Pension benefits 7,385 6,303 Retiree health care benefits 2,268 2,513 Fixed assets, intangibles and goodwill (net of valuation allowance $16 and $16) (2,007 ) (1,837 ) Other employee benefits 1,225 1,339 Customer and commercial financing (730 ) (777 ) Accrued expenses and reserves 587 609 Net operating loss, credit and capital loss carryovers (net of valuation allowance of $79 and $89) (1) 277 216 Other (57 ) (92 ) Net deferred tax (liabilities)/assets (2) ($1,006 ) ($2,127 ) (1) Of the deferred tax asset for net operating loss and credit carryovers, $262 expires on or before December 31, 2036 and $15 may be carried over indefinitely. (2) Included in the net deferred tax (liabilities)/assets as of December 31, 2016 and 2015 are deferred tax assets in the amounts of $7,701 and $7,277 related to Accumulated other comprehensive loss. Net deferred tax (liabilities)/assets at December 31 were as follows: 2016 2015 Deferred tax assets $13,591 $13,128 Deferred tax liabilities (14,502 ) (15,150 ) Valuation allowance (95 ) (105 ) Net deferred tax (liabilities)/assets ($1,006 ) ($2,127 ) The measurement of deferred tax assets is reduced by a valuation allowance if, based upon available evidence, it is more likely than not that some or all of the deferred tax assets will not be realized. We have provided for U.S. deferred income taxes and foreign withholding tax in the amount of $32 on undistributed earnings not considered indefinitely reinvested in our non-U.S. subsidiaries. We have not provided for U.S. deferred income taxes or foreign withholding tax on the remainder of undistributed earnings from our non-U.S. subsidiaries of approximately $850 because such earnings are considered to be indefinitely reinvested and it is not practicable to estimate the amount of tax that may be payable upon distribution. As of December 31, 2016 and 2015 , the amounts accrued for the payment of income tax-related interest and penalties included in the Consolidated Statements of Financial Position were not significant. The amounts of interest benefit included in the Consolidated Statements of Operations were not significant for the years ended December 31, 2016, 2015 and 2014 . A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows: 2016 2015 2014 Unrecognized tax benefits – January 1 $1,617 $1,312 $1,141 Gross increases – tax positions in prior periods 17 38 403 Gross decreases – tax positions in prior periods (348 ) (25 ) (251 ) Gross increases – current-period tax positions 344 292 217 Settlements (73 ) (197 ) Lapse of statute of limitations (1 ) Unrecognized tax benefits – December 31 $1,557 $1,617 $1,312 As of December 31 , 2016, 2015 and 2014 , the total amount of unrecognized tax benefits was $1,557 , $1,617 and $1,312 , respectively, of which $1,402 , $1,479 and $1,180 would affect the effective tax rate, if recognized. As of December 31, 2016 , these amounts are primarily associated with U.S. federal tax issues such as the amount of research tax credits claimed, the U.S. manufacturing activity tax benefit, tax basis adjustments and U.S. taxation of foreign earnings. Also included in these amounts are accruals for domestic state tax issues such as the allocation of income among various state tax jurisdictions and the amount of state tax credits claimed. |
Accounts Receivable
Accounts Receivable | 12 Months Ended |
Dec. 31, 2016 | |
Accounts Receivable, Net [Abstract] | |
Accounts Receivable | Accounts Receivable, net Accounts receivable at December 31 consisted of the following: 2016 2015 U.S. government contracts $4,639 $4,864 Commercial Airplanes 2,432 2,250 Defense, Space & Security customers (1) 733 889 Reinsurance receivables 526 550 Other 567 254 Less valuation allowance (65 ) (94 ) Total $8,832 $8,713 (1) Excludes U.S. government contracts The following table summarizes our accounts receivable under long-term contracts that were unbillable or related to outstanding claims as of December 31 : Unbillable Claims 2016 2015 2016 2015 Current $1,919 $2,024 $38 Expected to be collected after one year 2,011 2,001 $91 70 Total $3,930 $4,025 $129 $70 Under contract accounting unbillable receivables on long-term contracts arise when the sales or revenues based on performance attainment, though appropriately recognized, cannot be billed yet under terms of the contract as of the balance sheet date. Any adjustment for the credit quality of unbillable receivables, if required, would be recorded as a direct reduction of revenue. Factors considered in assessing the collectability of unbillable receivables include, but are not limited to, a customer’s extended delinquency, requests for restructuring and filings for bankruptcy. Unbillable receivables related to commercial customers expected to be collected after one year were $172 and $178 at December 31, 2016 and 2015 . Accounts receivable related to claims are items that we believe are earned, but are subject to uncertainty concerning their determination or ultimate realization. Accounts receivable, other than those described above, expected to be collected after one year are not material. |
Inventories
Inventories | 12 Months Ended |
Dec. 31, 2016 | |
Inventory Disclosure [Abstract] | |
Inventories | Inventories Inventories at December 31 consisted of the following: 2016 2015 Long-term contracts in progress $12,801 $13,858 Commercial aircraft programs 52,048 55,230 Commercial spare parts, used aircraft, general stock materials and other 5,446 6,673 Inventory before advances and progress billings 70,295 75,761 Less advances and progress billings (27,096 ) (28,504 ) Total $43,199 $47,257 Long-Term Contracts in Progress Long-term contracts in progress includes Delta launch program inventory that is being sold at cost to United Launch Alliance ( ULA ) under an inventory supply agreement that terminates on March 31, 2021. At December 31, 2016 and 2015 , the inventory balance was $120 (net of advances of $220 ) and $120 (net of advances of $310 ). See indemnifications to ULA in Note 12 . Included in inventories are capitalized precontract costs of $729 and $732 at December 31, 2016 and 2015 , primarily related to KC-46A Tanker and C-17. See Note 11 . Commercial Aircraft Programs At December 31, 2016 and 2015 , commercial aircraft programs inventory included the following amounts related to the 787 program: $32,501 and $34,656 of work in process (including deferred production costs of $27,308 and $28,510 ), $2,398 and $2,551 of supplier advances, and $3,625 and $3,890 of unamortized tooling and other non-recurring costs. At December 31, 2016 , $23,818 of 787 deferred production costs, unamortized tooling and other non-recurring costs are expected to be recovered from units included in the program accounting quantity that have firm orders and $7,115 is expected to be recovered from units included in the program accounting quantity that represent expected future orders. During the second quarter of 2016, we determined that it was unlikely we would receive firm orders for two flight test aircraft that were produced in 2009 and a ccordingly reclassified associated costs of $1,235 from 787 program inventory to research and development expense. The reclassification also impacted 787 deferred production costs, reducing the balance by $1,011 at June 30, 2016. At December 31, 2016 and 2015 , commercial aircraft programs inventory included the following amounts related to the 747 program: $35 and $942 of deferred production costs, net of reach-forward losses, and $284 and $377 of unamortized tooling costs. At December 31, 2016 , $233 of 747 deferred production and unamortized tooling costs are expected to be recovered from units included in the program accounting quantity that have firm orders and $86 is expected to be recovered from units included in the program accounting quantity that represent expected future orders. At December 31, 2016 and 2015 , work in process inventory included a number of completed 747 aircraft that we expect to recover from future orders. Commercial aircraft programs inventory included amounts credited in cash or other consideration (early issue sales consideration) to airline customers totaling $3,117 and $3,166 at December 31, 2016 and 2015 . Used aircraft in inventories at Commercial Airplanes totaled $150 and $267 at December 31, 2016 and 2015 . |
Customer Financing
Customer Financing | 12 Months Ended |
Dec. 31, 2016 | |
Customer Financing [Abstract] | |
Customer Financing | Customer Financing Customer financing primarily relates to the Boeing Capital (BCC) segment and consisted of the following at December 31: 2016 2015 Financing receivables: Investment in sales-type/finance leases $1,482 $1,620 Notes 807 256 Total financing receivables 2,289 1,876 Operating lease equipment, at cost, less accumulated depreciation of $359 and $338 1,922 1,710 Gross customer financing 4,211 3,586 Less allowance for losses on receivables (10 ) (16 ) Total $4,201 $3,570 The components of investment in sales-type/finance leases at December 31 were as follows: 2016 2015 Minimum lease payments receivable $1,321 $1,537 Estimated residual value of leased assets 505 530 Unearned income (344 ) (447 ) Total $1,482 $1,620 Operating lease equipment primarily includes large commercial jet aircraft and regional jet aircraft. At December 31, 2016 and 2015 , operating lease equipment included $6 and $49 available for sale or re-lease. At December 31, 2016 and 2015 , we had firm lease commitments for $0 and $15 of this equipment. Financing receivable balances evaluated for impairment at December 31 were as follows: 2016 2015 Individually evaluated for impairment $55 $86 Collectively evaluated for impairment 2,234 1,790 Total financing receivables $2,289 $1,876 We determine a receivable is impaired when, based on current information and events, it is probable that we will be unable to collect amounts due according to the original contractual terms. At December 31, 2016 and December 31, 2015 , we individually evaluated for impairment customer financing receivables of $55 and $86 , of which $44 and $0 were determined to be impaired. We recorded no allowance for losses on these impaired receivables as the collateral values exceeded the carrying values of the receivables. Income recognition is generally suspended for financing receivables at the date full recovery of income and principal becomes not probable. Income is recognized when financing receivables become contractually current and performance is demonstrated by the customer . The average recorded investment in impaired financing receivables for the year ended December 31, 2016 was $41 and the related interest income was insignificant. The change in the allowance for losses on financing receivables for the years ended December 31, 2016, 2015 and 2014 , consisted of the following: 2016 2015 2014 Beginning balance - January 1 ($16 ) ($21 ) ($49 ) Customer financing valuation benefit 6 5 28 Ending balance - December 31 ($10 ) ($16 ) ($21 ) Collectively evaluated for impairment ($10 ) ($16 ) ($21 ) The adequacy of the allowance for losses is assessed quarterly. Three primary factors influencing the level of our allowance for losses on customer financing receivables are customer credit ratings, default rates and collateral values. We assign internal credit ratings for all customers and determine the creditworthiness of each customer based upon publicly available information and information obtained directly from our customers. Our rating categories are comparable to those used by the major credit rating agencies. Our financing receivable balances at December 31 by internal credit rating category are shown below: Rating categories 2016 2015 BBB $1,324 $973 BB 538 536 B 383 258 CCC 44 23 Other 86 Total carrying value of financing receivables $2,289 $1,876 At December 31, 2016 , our allowance related to receivables with ratings of B, BB and BBB. We applied default rates that averaged 12.7% , 8.8% and 1.1% to the exposure associated with those receivables. Customer Financing Exposure Customer financing is collateralized by security in the related asset. The value of the collateral is closely tied to commercial airline performance and overall market conditions and may be subject to reduced valuation with market decline. Declines in collateral values could result in asset impairments, reduced finance lease income, and an increase in the allowance for losses. Our customer financing collateral is concentrated in 747-8 and out-of-production aircraft. Generally, out-of-production aircraft have experienced greater collateral value declines than in-production aircraft. The majority of customer financing carrying values are concentrated in the following aircraft models at December 31: 2016 2015 717 Aircraft ($301 and $372 accounted for as operating leases) $1,282 $1,415 747-8 Aircraft ($1,086 and $916 accounted for as operating leases) 1,111 916 MD-80 Aircraft (Accounted for as sales-type finance leases) 259 314 757 Aircraft ($43 and $48 accounted for as operating leases) 246 270 767 Aircraft ($85 and $84 accounted for as operating leases) 170 185 777 Aircraft (Accounted for as notes) 165 23 747-400 Aircraft (Accounted for as operating leases) 149 122 737 Aircraft (Accounted for as operating leases) 103 115 Charges related to customer financing asset impairment for the years ended December 31 were as follows: 2016 2015 2014 Boeing Capital $45 $162 $139 Other Boeing 21 45 Total $66 $162 $184 Scheduled receipts on customer financing are as follows: Year 2017 2018 2019 2020 2021 Beyond 2021 Principal payments on notes receivable $242 $105 $159 $125 $176 Sales-type/finance lease payments receivable 272 220 207 174 114 $334 Operating lease equipment payments receivable 463 162 147 129 110 587 |
Property, Plant And Equipment
Property, Plant And Equipment | 12 Months Ended |
Dec. 31, 2016 | |
Property, Plant and Equipment [Abstract] | |
Property, Plant And Equipment | Property, Plant and Equipment Property, plant and equipment at December 31 consisted of the following: 2016 2015 Land $535 $536 Buildings and land improvements 13,796 12,397 Machinery and equipment 13,569 13,187 Construction in progress 1,790 2,242 Gross property, plant and equipment 29,690 28,362 Less accumulated depreciation (16,883 ) (16,286 ) Total $12,807 $12,076 Depreciation expense was $1,418 , $1,357 and $1,414 for the years ended December 31, 2016, 2015 and 2014 , respectively. Interest capitalized during the years ended December 31, 2016, 2015 and 2014 totaled $170 , $158 and $102 , respectively. Rental expense for leased properties was $287 , $267 and $277 , for the years ended December 31, 2016, 2015 and 2014 , respectively. At December 31, 2016 , minimum rental payments under capital leases aggregated $144 . Minimum rental payments under operating leases with initial or remaining terms of one year or more aggregated $1,475 , net of sublease payments of $19 at December 31, 2016 . Payments due under operating and capital leases net of sublease amounts and non-cancellable future rentals during the next five years are as follows: 2017 2018 2019 2020 2021 Minimum operating lease payments, net of sublease amounts $233 $210 $182 $135 $95 Minimum capital lease payments 60 40 24 10 3 Accounts payable related to purchases of property, plant and equipment were $292 and $502 for the years ended December 31, 2016 and 2015 . |
Investments
Investments | 12 Months Ended |
Dec. 31, 2016 | |
Investments [Abstract] | |
Investments | Investments Our investments, which are recorded in Short-term and other investments or Investments, consisted of the following at December 31: 2016 2015 Equity method investments (1) $1,242 $1,230 Time deposits 665 456 Available-for-sale investments 537 244 Other investments 33 35 Restricted cash & cash equivalents (2) 68 69 Total $2,545 $2,034 (1) Dividends received were $314 and $239 during 2016 and 2015 . Retained earnings at December 31, 2016 include undistributed earnings from our equity method investments of $292 . (2) Reflects amounts restricted in support of our workers’ compensation programs and insurance premiums. Equity Method Investments Our equity method investments consisted of the following as of December 31: Segment Ownership Percentages Investment Balance 2016 2015 United Launch Alliance Network & Space Systems (N&SS) 50% $914 $908 Other Commercial Airplanes, N&SS and Global Services & Support (GS&S) 328 322 Total equity method investments $1,242 $1,230 |
Other Assets
Other Assets | 12 Months Ended |
Dec. 31, 2016 | |
Other Assets [Abstract] | |
Other Assets | Other Assets Sea Launch At December 31, 2016 and 2015 , Other assets included $356 of receivables related to our former investment in the Sea Launch venture which became payable by certain Sea Launch partners following Sea Launch’s bankruptcy filing in June 2009. The $356 includes $147 related to a payment made by us under a bank guarantee on behalf of Sea Launch and $209 related to loans (partner loans) we made to Sea Launch. The net amounts owed to Boeing by each of the partners are as follows: S.P. Koroley Rocket and Space Corporation Energia of Russia (RSC Energia) – $223 , PO Yuzhnoye Mashinostroitelny Zavod of Ukraine – $89 and KB Yuzhnoye of Ukraine – $44 . On February 1, 2013, we filed an action in the United States District Court for the Central District of California seeking reimbursement from the other Sea Launch partners of the $147 bank guarantee payment and the $209 partner loan obligations. On May 12, 2016, the court issued a judgment in favor of Boeing relating to the bank guarantee payment and the partner loan obligations. In December 2016, we reached an agreement which we believe will enable us to recover the outstanding receivable balance from RSC Energia over the next several years. The agreement is subject to certain contingencies which we expect will be resolved during the first quarter of 2017. We will continue to pursue collection efforts against the former Ukrainian partners in connection with the court judgment and continue to believe the partners have the financial wherewithal to pay and intend to pursue vigorously all of our rights and remedies. In the event we are unable to secure reimbursement from the Sea Launch partners, we could incur additional charges. Our current assessment as to the collectability of these receivables takes into account the current economic conditions in Russia and Ukraine, although we will continue to monitor the situation. Spirit AeroSystems As of December 31, 2016 and 2015 , Other assets included $143 and $140 of receivables related to indemnifications from Spirit AeroSystems, Inc. (Spirit), for costs incurred related to pension and retiree medical obligations of former Boeing employees that were subsequently employed by Spirit. During the fourth quarter of 2014, Boeing filed a complaint against Spirit in Delaware Superior Court seeking to enforce our rights to indemnification and to recover from Spirit amounts incurred by Boeing for pension and retiree medical obligations. We expect to fully recover from Spirit. |
Liabilities, Commitments And Co
Liabilities, Commitments And Contingencies | 12 Months Ended |
Dec. 31, 2016 | |
Commitments and Contingencies Disclosure [Abstract] | |
Liabilities, Commitments And Contingencies | Liabilities, Commitments and Contingencies Accrued Liabilities Accrued liabilities at December 31 consisted of the following: 2016 2015 Accrued compensation and employee benefit costs $5,720 $5,624 Environmental 562 566 Product warranties 1,414 1,485 Forward loss recognition 1,385 757 Dividends payable 866 721 Income Taxes Payable 89 262 Other 4,655 4,599 Total $14,691 $14,014 Environmental The following table summarizes environmental remediation activity during the years ended December 31, 2016 and 2015 . 2016 2015 Beginning balance – January 1 $566 $601 Reductions for payments made (47 ) (78 ) Changes in estimates 43 43 Ending balance – December 31 $562 $566 The liabilities recorded represent our best estimate or the low end of a range of reasonably possible costs expected to be incurred to remediate sites, including operation and maintenance over periods of up to 30 years. It is reasonably possible that we may incur charges that exceed these recorded amounts because of regulatory agency orders and directives, changes in laws and/or regulations, higher than expected costs and/or the discovery of new or additional contamination. As part of our estimating process, we develop a range of reasonably possible alternate scenarios that includes the high end of a range of reasonably possible cost estimates for all remediation sites for which we have sufficient information based on our experience and existing laws and regulations. There are some potential remediation obligations where the costs of remediation cannot be reasonably estimated. At December 31, 2016 and 2015 , the high end of the estimated range of reasonably possible remediation costs exceeded our recorded liabilities by $857 and $853 . Product Warranties The following table summarizes product warranty activity recorded during the years ended December 31, 2016 and 2015 . 2016 2015 Beginning balance – January 1 $1,485 $1,504 Additions for current year deliveries 356 421 Reductions for payments made (309 ) (323 ) Changes in estimates (118 ) (117 ) Ending balance – December 31 $1,414 $1,485 Commercial Aircraft Commitments In conjunction with signing definitive agreements for the sale of new aircraft (Sale Aircraft), we have entered into trade-in commitments with certain customers that give them the right to trade in used aircraft at a specified price upon the purchase of Sale Aircraft. The probability that trade-in commitments will be exercised is determined by using both quantitative information from valuation sources and qualitative information from other sources. The probability of exercise is assessed quarterly, or as events trigger a change, and takes into consideration the current economic and airline industry environments. Trade-in commitments, which can be terminated by mutual consent with the customer, may be exercised only during the period specified in the agreement, and require advance notice by the customer. Trade-in commitment agreements at December 31, 2016 have expiration dates from 2017 through 2026 . At December 31, 2016 and 2015 , total contractual trade-in commitments were $1,485 and $1,585 . As of December 31, 2016 and 2015 , we estimated that it was probable we would be obligated to perform on certain of these commitments with net amounts payable to customers totaling $126 and $240 and the fair value of the related trade-in aircraft was $126 and $240 . Financing Commitments Financing commitments related to aircraft on order, including options and those proposed in sales campaigns, and refinancing of delivered aircraft, totaled $14,847 and $16,283 as of December 31, 2016 and 2015 . The estimated earliest potential funding dates for these commitments as of December 31, 2016 are as follows: Total 2017 $2,432 2018 3,500 2019 3,374 2020 2,022 2021 1,471 Thereafter 2,048 $14,847 As of December 31, 2016 , all of these financing commitments related to customers we believe have less than investment-grade credit. We have concluded that no reserve for future potential losses is required for these financing commitments based upon the terms, such as collateralization and interest rates, under which funding would be provided. Standby Letters of Credit and Surety Bonds We have entered into standby letters of credit and surety bonds with financial institutions primarily relating to the guarantee of our future performance on certain contracts. Contingent liabilities on outstanding letters of credit agreements and surety bonds aggregated approximately $4,701 and $4,968 as of December 31, 2016 and 2015 . Commitments to ULA We and Lockheed Martin Corporation have each committed to provide ULA with additional capital contributions in the event ULA does not have sufficient funds to make a required payment to us under an inventory supply agreement. As of December 31, 2016 , ULA’s total remaining obligation to Boeing under the inventory supply agreement was $120 . See Note 6 . F/A-18 At December 31, 2016 , our backlog included 23 F/A-18 aircraft under contract with the U.S. Navy and funding has been authorized and appropriated for an additional 12 aircraft. In addition, Kuwait has requested up to 40 aircraft. We have begun work or authorized suppliers to begin working on aircraft beyond those already in backlog in anticipation of these future orders. At December 31, 2016, we had $57 of capitalized precontract costs and $790 of potential termination liabilities to suppliers associated with F/A-18 aircraft. Company Owned Life Insurance McDonnell Douglas Corporation insured its executives with Company Owned Life Insurance (COLI), which are life insurance policies with a cash surrender value. Although we do not use COLI currently, these obligations from the merger with McDonnell Douglas are still a commitment at this time. We have loans in place to cover costs paid or incurred to carry the underlying life insurance policies. As of December 31, 2016 and 2015 , the cash surrender value was $483 and $487 and the total loans were $456 and $456 . As we have the right to offset the loans against the cash surrender value of the policies, we present the net asset in Other assets on the Consolidated Statements of Financial Position as of December 31, 2016 and 2015 . United States Government Defense Environment Overview The new U.S. administration and key members of the 115th Congress have expressed a general desire to reverse the effects of the budgetary reductions of the past several years. However, the Budget Control Act of 2011 (The Act), which mandated limits on U.S. government discretionary spending, remains in effect through the 2021 government fiscal year causing budget uncertainty and continued risk of future sequestration cuts. In addition, there continues to be uncertainty with respect to program-level appropriations for the U.S. Department of Defense (U.S. DoD) and other government agencies, including the National Aeronautics and Space Administration (NASA), within the overall budgetary framework described above. Future budget cuts or investment priority changes could result in reductions, cancellations and/or delays of existing contracts or programs. Any of these impacts could have a material effect on the results of the Company’s operations, financial position and/or cash flows. Funding timeliness also remains a risk as the federal government is currently operating under a continuing resolution that expires on April 28, 2017. If Congress is unable to pass appropriations bills before the continuing resolution expires, a government shutdown could result which may have impacts above and beyond those resulting from budget cuts, sequestration impacts or program-level appropriations. For example, requirements to furlough employees in the U.S. DoD or other government agencies could result in payment delays, impair our ability to perform work on existing contracts, and/or negatively impact future orders. BDS Fixed-Price Development Contracts Fixed-price development work is inherently uncertain and subject to significant variability in estimates of the cost and time required to complete the work. BDS fixed-price contracts with significant development work include Commercial Crew, Saudi F-15, USAF KC-46A Tanker and commercial and military satellites. The operational and technical complexities of these contracts create financial risk, which could trigger termination provisions, order cancellations or other financially significant exposure. Changes to cost and revenue estimates could result in lower margins or material charges for reach-forward losses. For example, during 2016, we have recorded additional reach-forward losses of $1,128 on the KC-46A Tanker program and a charge of $162 resulting from a reach-forward loss of $38 on the Commercial Crew Program. Moreover, both of these programs remain subject to additional reach-forward losses if we experience further technical or quality issues, schedule delays, or increased costs. KC-46A Tanker In 2011, we were awarded a contract from the U.S. Air Force (USAF) to design, develop, manufacture and deliver four next generation aerial refueling tankers. This Engineering, Manufacturing and Development (EMD) contract is a fixed-price incentive fee contract valued at $4.9 billion and involves highly complex designs and systems integration. In August 2016, the USAF authorized LRIP lots for 7 and 12 aircraft valued at $2.8 billion . At December 31, 2016 , we had approximately $311 of capitalized precontract costs and $1,016 of potential termination liabilities to suppliers. Recoverable Costs on Government Contracts Our final incurred costs for each year are subject to audit and review for allowability by the U.S. government, which can result in payment demands related to costs they believe should be disallowed. We work with the U.S. government to assess the merits of claims and where appropriate reserve for amounts disputed. If we are unable to satisfactorily resolve disputed costs, we could be required to record an earnings charge and/or provide refunds to the U.S. government. Russia/Ukraine We continue to monitor political unrest involving Russia and Ukraine, where we and some of our suppliers source titanium products and/or have operations. A number of our commercial customers also have operations in Russia and Ukraine. To date, we have not experienced any significant disruptions to production or deliveries. Should suppliers or customers experience disruption, our production and/or deliveries could be materially impacted. 747 Program Lower-than-expected demand for large commercial passenger and freighter aircraft and slower-than-expected growth of global freight traffic have continued to drive market uncertainties, pricing pressures and fewer orders than anticipated. As a result, during 2016, we canceled previous plans to return to a production rate of 1.0 aircraft per month beginning in 2019, resulting in a reduction in the program accounting quantity from 1,574 to 1,555 aircraft. This reduction in the program accounting quantity, together with lower anticipated revenues from future sales and higher costs associated with producing fewer airplanes, resulted in a reach-forward loss of $1,188 in the second quarter. We previously recognized reach-forward losses of $885 and $70 during the second half of 2015 and the first quarter of 2016, respectively, related to the prior decision to reduce the production rate to 0.5 per month and lower estimated revenue from future sales due to ongoing pricing and market pressures. We reduced the rate from 1.0 to 0.5 per month in September 2016 . The adjusted program accounting quantity includes 26 undelivered aircraft, currently scheduled to be produced through 2019. We continue to have a number of completed aircraft in inventory as well as unsold production positions and we remain focused on obtaining additional orders and implementing cost-reduction efforts. If we are unable to obtain sufficient orders and/or market, production and other risks cannot be mitigated, we could record additional losses that may be material, and it is reasonably possible that we could decide to end production of the 747. 787 Program The 787 program continued to have near breakeven gross margins. The combination of production challenges, change incorporation on early build aircraft, schedule delays, customer and supplier impacts and changes to price escalation factors has created significant pressure on program profitability. We are continuing to monitor wide-body demand and if sufficient orders do not materialize during the next several quarters we may consider appropriate adjustments to planned production rates. If risks related to these challenges, together with risks associated with planned production rates and productivity improvements, supply chain management or introducing or manufacturing the 787-10 derivative as scheduled cannot be mitigated, the program could record a reach-forward loss that may be material. |
Arrangements With Off-Balance S
Arrangements With Off-Balance Sheet Risk | 12 Months Ended |
Dec. 31, 2016 | |
Guarantees [Abstract] | |
Arrangements With Off-Balance Sheet Risk | Arrangements with Off-Balance Sheet Risk We enter into arrangements with off-balance sheet risk in the normal course of business, primarily in the form of guarantees. The following table provides quantitative data regarding our third party guarantees. The maximum potential payments represent a “worst-case scenario,” and do not necessarily reflect amounts that we expect to pay. Estimated proceeds from collateral and recourse represent the anticipated values of assets we could liquidate or receive from other parties to offset our payments under guarantees. The carrying amount of liabilities represents the amount included in Accrued liabilities. Maximum Potential Payments Estimated Proceeds from Collateral/ Recourse Carrying Amount of Liabilities December 31, 2016 2015 2016 2015 2016 2015 Contingent repurchase commitments $1,306 $1,529 $1,306 $1,510 $9 $7 Indemnifications to ULA: Contributed Delta program launch inventory 77 107 Contract pricing 261 261 7 7 Other Delta contracts 216 231 5 5 Credit guarantees 29 30 27 27 2 2 Contingent Repurchase Commitments The repurchase price specified in contingent repurchase commitments is generally lower than the expected fair value at the specified repurchase date. Estimated proceeds from collateral/recourse in the table above represent the lower of the contracted repurchase price or the expected fair value of each aircraft at the specified repurchase date. Indemnifications to ULA In 2006, we agreed to indemnify ULA through December 31, 2020 against potential non-recoverability and non-allowability of $1,360 of Boeing Delta launch program inventory included in contributed assets plus $1,860 of inventory subject to an inventory supply agreement which ends on March 31, 2021 . Since inception, ULA has consumed $1,283 of the $1,360 of inventory that was contributed by us and has yet to consume $77 . Under the inventory supply agreement, we have recorded revenues and cost of sales of $1,472 through December 31, 2016 . ULA has made payments of $1,740 to us under the inventory supply agreement and we have made $63 of net indemnification payments to ULA. We agreed to indemnify ULA against potential losses that ULA may incur in the event ULA is unable to obtain certain additional contract pricing from the USAF for four satellite missions. In 2009, ULA filed a complaint before the Armed Services Board of Contract Appeals (ASBCA) for a contract adjustment for the price of two of these missions, followed in 2011 by a subsequent notice of appeal with respect to a third mission. The USAF did not exercise an option for a fourth mission prior to the expiration of the contract. During the second quarter of 2016, the ASBCA ruled that ULA is entitled to additional contract pricing for each of the three missions and remanded to the parties to negotiate appropriate pricing. During the fourth quarter of 2016, the USAF appealed the ASBCA’s ruling. If the USAF’s appeal of the ASBCA's ruling is successful, and ULA is ultimately unsuccessful in obtaining additional pricing, we may be responsible for an indemnification payment up to $261 and may record up to $277 in pre-tax losses associated with the three missions. Potential payments for Other Delta contracts include $85 related to deferred support costs and $91 related to deferred production costs. In June 2011, the Defense Contract Management Agency (DCMA) notified ULA that it had determined that $271 of deferred support costs are not recoverable under government contracts. In December 2011, the DCMA notified ULA of the potential non-recoverability of an additional $114 of deferred production costs. ULA and Boeing believe that all costs are recoverable and in November 2011, ULA filed a certified claim with the USAF for collection of deferred support and production costs. The USAF issued a final decision denying ULA’s certified claim in May 2012. On June 14, 2012, Boeing and ULA filed a suit in the Court of Federal Claims seeking recovery of the deferred support and production costs from the U.S. government. On November 9, 2012, the U.S. government filed an answer to our claim and asserted a counterclaim for credits that it alleges were offset by deferred support cost invoices. We believe that the U.S. government’s counterclaim is without merit, and have filed an answer challenging it on multiple grounds. The litigation is in the discovery phase and the Court has not yet set a trial date. If, contrary to our belief, it is determined that some or all of the deferred support or production costs are not recoverable, we could be required to record pre-tax losses and make indemnification payments to ULA for up to $317 of the costs questioned by the DCMA. Other Indemnifications In conjunction with our sales of Electron Dynamic Devices, Inc. and Rocketdyne Propulsion and Power businesses and our Commercial Airplanes facilities in Wichita, Kansas and Tulsa and McAlester, Oklahoma, we agreed to indemnify, for an indefinite period, the buyers for costs relating to pre-closing environmental conditions and certain other items. We are unable to assess the potential number of future claims that may be asserted under these indemnifications, nor the amounts thereof (if any). As a result, we cannot estimate the maximum potential amount of future payments under these indemnities and therefore, no liability has been recorded. To the extent that claims have been made under these indemnities and/or are probable and reasonably estimable, liabilities associated with these indemnities are included in the environmental liability disclosure in Note 11 . Credit Guarantees We have issued credit guarantees, principally to facilitate the sale and/or financing of commercial aircraft. Under these arrangements, we are obligated to make payments to a guaranteed party in the event that lease or loan payments are not made by the original lessee or debtor or certain specified services are not performed. A substantial portion of these guarantees has been extended on behalf of original lessees or debtors with less than investment-grade credit. Our commercial aircraft credit guarantees are collateralized by the underlying commercial aircraft and certain other assets. Current outstanding credit guarantees expire within the next four years. Industrial Revenue Bonds Industrial Revenue Bonds (IRB) issued by the City of Wichita and St. Louis County were used to finance the purchase and/or construction of real and personal property at our Wichita and St. Louis sites. Tax benefits associated with IRBs include a ten-year property tax abatement and a sales tax exemption from the Kansas Department of Revenue, and a twelve-year property tax abatement and sales tax exemption from St. Louis County. We record these properties on our Consolidated Statements of Financial Position. We have also purchased the IRBs and therefore are the bondholders as well as the borrower/lessee of the properties purchased with the IRB proceeds. The liabilities and IRB assets are equal and are reported net in the Consolidated Statements of Financial Position. During 2016, the City of Wichita IRBs were settled. As of December 31, 2016 and 2015 , the assets and liabilities associated with the IRBs were $64 and $584 . |
Debt
Debt | 12 Months Ended |
Dec. 31, 2016 | |
Debt Disclosure [Abstract] | |
Debt | Debt On May 18, 2016 , we issued $1,200 of fixed rate senior notes consisting of $400 due June 15, 2023 that bear an annual interest rate of 1.875% , $400 due June 15, 2026 that bear an annual interest rate of 2.25% , and $400 due June 15, 2046 that bear an annual interest rate of 3.375% . The notes are unsecured senior obligations and rank equally in right of payment with our existing and future unsecured and unsubordinated indebtedness. The net proceeds of the issuance totaled $1,170 , after deducting underwriting discounts, commissions and offering expenses. Interest incurred, including amounts capitalized, was $535 , $497 and $504 for the years ended December 31, 2016, 2015 and 2014 , respectively. Interest expense recorded by BCC is reflected as Boeing Capital interest expense on our Consolidated Statements of Operations. Total Company interest payments were $523 , $488 and $511 for the years ended December 31, 2016, 2015 and 2014 , respectively. We have $5,000 currently available under credit line agreements, of which $2,480 is a 364-day revolving credit facility expiring in November 2017 , $2,370 expires in November 2021 , $90 expires in November 2019 and $60 expires in November 2017 . The 364-day credit facility has a one-year term out option which allows us to extend the maturity of any borrowings one year beyond the aforementioned expiration date. We continue to be in full compliance with all covenants contained in our debt or credit facility agreements. Short-term debt and current portion of long-term debt at December 31 consisted of the following: 2016 2015 Unsecured debt securities $255 $1,004 Non-recourse debt and notes 33 36 Capital lease obligations 57 53 Other notes 39 141 Total $384 $1,234 Debt at December 31 consisted of the following: 2016 2015 Unsecured debt securities Variable rate: 3-month USD LIBOR plus 12.5 basis points due 2017 $250 $250 0.95% - 4.88% due through 2046 5,250 5,075 5.88% - 6.88% due through 2043 2,383 2,381 7.25% - 8.75% due through 2043 1,641 1,645 Non-recourse debt and notes 6.98% - 7.38% notes due through 2021 127 163 Capital lease obligations due through 2024 138 150 Other notes 163 300 Total debt $9,952 $9,964 Total debt is attributable to: 2016 2015 BCC $2,864 $2,355 Other Boeing 7,088 7,609 Total debt $9,952 $9,964 At December 31, 2016 , $127 of debt (non-recourse debt, notes and capital lease obligations) was collateralized by customer financing assets totaling $259 . Scheduled principal payments for debt and minimum capital lease obligations for the next five years are as follows: 2017 2018 2019 2020 2021 Scheduled principal payments $387 $714 $1,261 $1,134 $719 |
Postretirement Plans
Postretirement Plans | 12 Months Ended |
Dec. 31, 2016 | |
General Discussion of Pension and Other Postretirement Benefits [Abstract] | |
Postretirement Plans | Postretirement Plans The majority of our employees have earned benefits under defined benefit pension plans. Nonunion and the majority of union employees that had participated in defined benefit pension plans transitioned to a company-funded defined contribution retirement savings plan in 2016. We fund our major pension plans through trusts. Pension assets are placed in trust solely for the benefit of the plans’ participants, and are structured to maintain liquidity that is sufficient to pay benefit obligations as well as to keep pace over the long-term with the growth of obligations for future benefit payments. We also have other postretirement benefits (OPB) other than pensions which consist principally of health care coverage for eligible retirees and qualifying dependents, and to a lesser extent, life insurance to certain groups of retirees. Retiree health care is provided principally until age 65 for approximately half those retirees who are eligible for health care coverage. Certain employee groups, including employees covered by most United Auto Workers bargaining agreements, are provided lifetime health care coverage. The funded status of the plans is measured as the difference between the plan assets at fair value and the projected benefit obligation (PBO). We have recognized the aggregate of all overfunded plans in Other assets, and the aggregate of all underfunded plans in either Accrued retiree health care or Accrued pension plan liability, net. The portion of the amount by which the actuarial present value of benefits included in the PBO exceeds the fair value of plan assets, payable in the next 12 months, is reflected in Accrued liabilities. The components of net periodic benefit cost were as follows: Pension Other Postretirement Benefits Years ended December 31, 2016 2015 2014 2016 2015 2014 Service cost $604 $1,764 $1,661 $128 $140 $129 Interest cost 3,050 2,990 3,058 262 248 289 Expected return on plan assets (3,999 ) (4,031 ) (4,169 ) (8 ) (8 ) (8 ) Amortization of prior service costs/(credits) 38 196 177 (126 ) (136 ) (144 ) Recognized net actuarial loss 790 1,577 1,020 22 31 8 Settlement/curtailment/other losses 40 290 461 10 1 Net periodic benefit cost $523 $2,786 $2,208 $278 $285 $275 Net periodic benefit cost included in Earnings from operations $1,979 $2,366 $3,215 $274 $288 $287 In 2016 , we recorded charges of $40 related to curtailments and other benefit changes associated with certain of our defined benefit plans. The following tables show changes in the benefit obligation, plan assets and funded status of both pensions and OPB for the years ended December 31, 2016 and 2015 . Benefit obligation balances presented below reflect the PBO for our pension plans, and accumulated postretirement benefit obligations (APBO) for our OPB plans. Pension Other Postretirement Benefits 2016 2015 2016 2015 Change in benefit obligation Beginning balance $74,388 $78,391 $7,138 $7,306 Service cost 604 1,764 128 140 Interest cost 3,050 2,990 262 248 Plan participants’ contributions 1 5 Amendments 6 (1,379 ) (57 ) (19 ) Actuarial (gain)/loss 2,669 (3,505 ) (612 ) (89 ) Settlement/curtailment/other (63 ) (457 ) 10 Gross benefits paid (3,903 ) (3,382 ) (469 ) (486 ) Subsidies 37 43 Exchange rate adjustment (7 ) (39 ) 4 (15 ) Ending balance $76,745 $74,388 $6,431 $7,138 Change in plan assets Beginning balance at fair value $56,514 $61,119 $132 $141 Actual return/(loss) on plan assets 3,885 (701 ) 7 1 Company contribution 113 59 6 5 Plan participants’ contributions 1 5 7 5 Settlement payments (24 ) (649 ) Benefits paid (3,791 ) (3,284 ) (18 ) (20 ) Exchange rate adjustment (6 ) (35 ) Ending balance at fair value $56,692 $56,514 $134 $132 Amounts recognized in statement of financial position at December 31 consist of: Other assets $3 $10 Other accrued liabilities (113 ) (101 ) ($381 ) ($390 ) Accrued retiree health care (5,916 ) (6,616 ) Accrued pension plan liability, net (19,943 ) (17,783 ) Net amount recognized ($20,053 ) ($17,874 ) ($6,297 ) ($7,006 ) Amounts recognized in Accumulated other comprehensive loss at December 31 were as follows: Pension Other Postretirement Benefits 2016 2015 2016 2015 Net actuarial loss $22,802 $20,871 $152 $781 Prior service (credits) (1,243 ) (1,195 ) (328 ) (397 ) Total recognized in Accumulated other comprehensive loss $21,559 $19,676 ($176 ) $384 The estimated amount that will be amortized from Accumulated other comprehensive loss into net periodic benefit cost during the year ending December 31, 2017 is as follows: Pension Other Postretirement Benefits Recognized net actuarial loss $801 $10 Amortization of prior service (credits) (41 ) (137 ) Total $760 ($127 ) The accumulated benefit obligation (ABO) for all pension plans was $74,240 and $72,330 at December 31, 2016 and 2015 . Key information for our plans with ABO in excess of plan assets as of December 31 was as follows: 2016 2015 Projected benefit obligation $76,586 $74,188 Accumulated benefit obligation 74,081 72,121 Fair value of plan assets 56,530 56,306 Assumptions The following assumptions, which are the weighted average for all plans, are used to calculate the benefit obligation at December 31 of each year and the net periodic benefit cost for the subsequent year. December 31, 2016 2015 2014 Discount rate: Pension 4.00 % 4.20 % 3.90 % Other postretirement benefits 3.70 % 3.80 % 3.50 % Expected return on plan assets 6.80 % 7.00 % 7.00 % Rate of compensation increase 4.40 % 4.00 % 3.80 % The discount rate for each plan is determined based on the plans’ expected future benefit payments using a yield curve developed from high quality bonds that are rated as Aa or better by at least half of the four rating agencies utilized as of the measurement date. The yield curve is fitted to yields developed from bonds at various maturity points. Bonds with the ten percent highest and the ten percent lowest yields are omitted. A portfolio of about 400 bonds is used to construct the yield curve. Since corporate bond yields are generally not available at maturities beyond 30 years, it is assumed that spot rates will remain level beyond that 30-year point. The present value of each plan’s benefits is calculated by applying the discount rates to projected benefit cash flows. All bonds are U.S. issues, with a minimum outstanding of $50. The pension fund’s expected return on plan assets assumption is derived from a review of actual historical returns achieved by the pension trust and anticipated future long-term performance of individual asset classes. While consideration is given to recent trust performance and historical returns, the assumption represents a long-term, prospective return. The expected return on plan assets component of the net periodic benefit cost for the upcoming plan year is determined based on the expected return on plan assets assumption and the market-related value of plan assets (MRVA). Since our adoption of the accounting standard for pensions in 1987, we have determined the MRVA based on a five -year moving average of plan assets. As of December 31, 2016 , the MRVA was approximately $2,352 greater than the fair market value of assets. Assumed health care cost trend rates were as follows: December 31, 2016 2015 2014 Health care cost trend rate assumed next year 6.50 % 6.50 % 7.00 % Ultimate trend rate 5.00 % 5.00 % 5.00 % Year that trend reached ultimate rate 2021 2021 2018 Assumed health care cost trend rates have a significant effect on the amounts reported for the health care plans. To determine the health care cost trend rates we look at a combination of information including ongoing claims cost monitoring, annual statistical analyses of claims data, reconciliation of forecast claims against actual claims, review of trend assumptions of other plan sponsors and national health trends, and adjustments for plan design changes, workforce changes, and changes in plan participant behavior. A one-percentage-point change in assumed health care cost trend rates would have the following effect: Increase Decrease Effect on total of service and interest cost $48 ($40 ) Effect on postretirement benefit obligation 586 (496 ) Plan Assets Investment Strategy The overall objective of our pension assets is to earn a rate of return over time to satisfy the benefit obligations of the pension plans and to maintain sufficient liquidity to pay benefits and address other cash requirements of the pension fund. Specific investment objectives for our long-term investment strategy include reducing the volatility of pension assets relative to pension liabilities, achieving a competitive total investment return, achieving diversification between and within asset classes and managing other risks. Investment objectives for each asset class are determined based on specific risks and investment opportunities identified. We periodically update our long-term, strategic asset allocations. We use various analytics to determine the optimal asset mix and consider plan liability characteristics, liquidity characteristics, funding requirements, expected rates of return and the distribution of returns. We identify investment benchmarks for the asset classes in the strategic asset allocation that are market-based and investable where possible. Actual allocations to each asset class vary from target allocations due to periodic investment strategy changes, market value fluctuations, the length of time it takes to fully implement investment allocation positions, and the timing of benefit payments and contributions. Short-term investments and exchange-traded derivatives are used to rebalance the actual asset allocation to the target asset allocation. The asset allocation is monitored and rebalanced on a monthly basis. The actual and target allocations by asset class for the pension assets at December 31 were as follows: Actual Allocations Target Allocations Asset Class 2016 2015 2016 2015 Fixed income 48 % 48 % 47 % 47 % Global equity 28 28 29 29 Private equity 5 5 5 5 Real estate and real assets 9 9 9 9 Hedge funds 10 10 10 10 Total 100 % 100 % 100 % 100 % Fixed income securities are invested primarily in a diversified portfolio of long duration instruments. Global equity securities are invested in a diversified portfolio of U.S. and non-U.S. companies, across various industries and market capitalizations. Real estate and real assets include global private investments that may be held through an investment in a limited partnership (LP) or other fund structures and publicly traded investments (such as Real Estate Investment Trusts (REITs) in the case of real estate). Real estate includes, but is not limited to, investments in office, retail, apartment and industrial properties. Real assets include, but are not limited to, investments in natural resources (such as energy, farmland and timber), commodities and infrastructure. Private equity investment vehicles are primarily limited partnerships (LPs) and fund-of-funds that mainly invest in U.S. and non-U.S. leveraged buyout, venture capital and special situation strategies. Hedge fund investments seek to capitalize on inefficiencies identified across and within different asset classes or markets. Hedge fund strategy types include, but are not limited to directional, event driven, relative value, long-short and multi-strategy. Investment managers are retained for explicit investment roles specified by contractual investment guidelines. Certain investment managers are authorized to use derivatives, such as equity or bond futures, swaps, options and currency futures or forwards. Derivatives are used to achieve the desired market exposure of a security or an index, transfer value-added performance between asset classes, achieve the desired currency exposure, adjust portfolio duration or rebalance the total portfolio to the target asset allocation. As a percentage of total pension plan assets, derivative net notional amounts were 6.0% and 13.1% for fixed income, including to-be-announced mortgage-backed securities and treasury forwards, and 1.2% and 4.0% for global equity and commodities at December 31, 2016 and 2015 . Risk Management In managing the plan assets, we review and manage risk associated with funded status risk, interest rate risk, market risk, counterparty risk, liquidity risk and operational risk. Liability matching and asset class diversification are central to our risk management approach and are integral to the overall investment strategy. Further, asset classes are constructed to achieve diversification by investment strategy, by investment manager, by industry or sector and by holding. Investment manager guidelines for publicly traded assets are specified and are monitored regularly through the custodian. Credit parameters for counterparties have been established for managers permitted to trade over-the-counter derivatives. Valuation is governed through several types of procedures, including reviews of manager valuation policies, custodian valuation processes, pricing vendor practices, pricing reconciliation, and periodic, security-specific valuation testing . Fair Value Measurements The following table presents our plan assets using the fair value hierarchy as of December 31, 2016 and 2015 . The fair value hierarchy has three levels based on the reliability of the inputs used to determine fair value. Level 1 refers to fair values determined based on quoted prices in active markets for identical assets. Level 2 refers to fair values estimated using significant other observable inputs, and Level 3 includes fair values estimated using significant unobservable inputs. December 31, 2016 December 31, 2015 Total Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Fixed income securities: Corporate $16,730 $16,723 $7 $16,339 $16,336 $3 U.S. government and agencies 4,876 4,875 1 4,801 4,800 1 Mortgage backed and asset backed 706 370 336 830 382 448 Municipal 1,398 1,398 1,475 1,475 Sovereign 782 782 907 907 Other 74 $9 65 83 $9 74 Derivatives: Assets 40 40 25 25 Liabilities (38 ) (38 ) (67 ) (67 ) Cash equivalents and other short-term investments 1,037 1,037 1,015 1,015 Equity securities: U.S. common and preferred stock 5,374 5,373 1 5,165 5,164 1 Non-U.S. common and preferred stock 5,746 5,746 5,712 5,710 2 Derivatives: Assets 6 6 11 11 Liabilities (8 ) (8 ) (3 ) (3 ) Private equity — 3 3 Real estate and real assets: Real estate 468 468 447 447 Real assets 672 372 295 5 632 351 275 6 Derivatives: Assets 4 4 3 3 Liabilities (1 ) (1 ) (2 ) (2 ) Total $37,866 $11,968 $25,548 $350 $37,376 $11,681 $25,231 $464 Fixed income common/collective/pooled funds $1,625 $1,753 Fixed income other 227 247 Equity common/collective pooled funds 4,962 4,948 Private equity 2,639 2,611 Real estate and real assets 3,625 3,637 Hedge funds 5,441 5,478 Total investments measured at NAV as a practical expedient $18,519 $18,674 Cash $160 $162 Receivables 374 435 Payables (227 ) (133 ) Total $56,692 $56,514 Fixed income securities are primarily valued upon a market approach, using matrix pricing and considering a security’s relationship to other securities for which quoted prices in an active market may be available, or an income approach, converting future cash flows to a single present value amount. Inputs used in developing fair value estimates include reported trades, broker quotes, benchmark yields, and base spreads. Common/collective/pooled funds are typically common or collective trusts valued at their NAVs that are calculated by the investment manager or sponsor of the fund and have daily or monthly liquidity. Derivatives included in the table above are over-the-counter and are primarily valued using an income approach with inputs that include benchmark yields, swap curves, cash flow analysis, rating agency data and interdealer broker rates. Exchange-traded derivative positions are reported in accordance with changes in daily variation margin which is settled daily and therefore reflected in the payables and receivables portion of the table. Cash equivalents and other short-term investments (which are used to pay benefits) are held in a separate account which consists of a commingled fund (with daily liquidity) and separately held short-term securities and cash equivalents. All of the investments in this cash vehicle are valued daily using a market approach with inputs that include quoted market prices for similar instruments. In the event a market price is not available for instruments with an original maturity of one year or less, amortized cost is used as a proxy for fair value. Common and preferred stock equity securities are primarily valued using a market approach based on the quoted market prices of identical instruments. Private equity and private debt NAV valuations are based on the valuation of the underlying investments, which include inputs such as cost, operating results, discounted future cash flows and market based comparable data. For those investments reported on a one-quarter lagged basis (primarily LPs) we use NAVs, adjusted for subsequent cash flows and significant events. Real estate and real asset NAV valuations are based on valuation of the underlying investments, which include inputs such as cost, discounted future cash flows, independent appraisals and market based comparable data. For those investments reported on a one-quarter lagged basis (primarily LPs) NAVs are adjusted for subsequent cash flows and significant events. Publicly traded REITs and infrastructure stocks are valued using a market approach based on quoted market prices of identical instruments. Exchange-traded commodities futures positions are reported in accordance with changes in daily variation margin which is settled daily and therefore reflected in the payables and receivables portion of the table. Hedge funds consist of direct hedge funds and fund-of-fund limited liability company (LLC) structures. For direct hedge funds the NAVs are generally based on valuation of the underlying investments. This is primarily done by applying a market or income valuation methodology depending on the specific type of security or instrument held. The NAVs of the fund-of-funds are based on the NAVs of the underlying hedge funds as well as any cash and accruals held at the fund-of-fund level. Redemptions in hedge funds are based on specific terms and conditions of the individual funds. Investments in private equity, private debt, real estate, real assets, and hedge funds are primarily calculated and reported by the General Partner (GP), fund manager or third party administrator. Additionally, some investments in fixed income and equity are made via commingled vehicles and are valued in a similar fashion. Pension assets invested in commingled and limited partnership structures rely on the NAV of these investments as the practical expedient for the valuations. The following tables present a reconciliation of Level 3 assets (excluding investments which are valued using NAVs as a practical expedient) held during the years ended December 31, 2016 and 2015 . Transfers into and out of Level 3 are reported at the beginning-of-year values. January 1 Net Realized and Unrealized Gains/(Losses) Net Purchases, Issuances and Settlements Net Transfers (Out of) Level 3 December 31 Fixed income securities: Corporate (1) $11 ($1 ) ($3 ) $7 U.S. government and agencies 1 1 Mortgage backed and asset backed (1) 440 $7 (93 ) (18 ) 336 Equity securities: U.S. common and preferred stock 1 1 Non-U.S. common and preferred stock 2 (2 ) — Private equity 3 (3 ) — Real assets 6 (1 ) 5 Total $464 $4 ($97 ) ($21 ) $350 January 1 Net Realized and Unrealized (Losses) Net Purchases, Issuances and Settlements Net Transfers Into Level 3 December 31 Fixed income securities: Corporate (2) $1 $1 $1 $3 U.S. government and agencies (2) 1 $1 Mortgage backed and asset backed (2) 611 ($9 ) (157 ) 3 448 Other (3 ) 3 — Equity securities: U.S. common and preferred stock 1 1 Non-U.S. common and preferred stock 1 (2 ) 3 2 Private equity 3 3 Real assets 4 2 6 Total $621 ($12 ) ($153 ) $8 $464 (1) Certain fixed income securities were reclassified from mortgage backed and asset backed to corporate on January 1, 2016. (2) Certain fixed income securities were reclassified from corporate and mortgage backed and asset backed to U.S. government and agencies on January 1, 2015. The changes in unrealized gains/(losses) for Level 3 mortgage backed and asset backed fixed income securities still held at December 31, 2016 and 2015 were $4 and ($10) . OPB Plan Assets The majority of OPB plan assets are invested in a balanced index fund which is comprised of approximately 60% equities and 40% debt securities. The index fund is valued using a market approach based on the quoted market price of an identical instrument (Level 1). The expected rate of return on these assets does not have a material effect on the net periodic benefit cost. Cash Flows Contributions Required pension contributions under the Employee Retirement Income Security Act ( ERISA ), as well as rules governing funding of our non-U.S. pension plans, are expected to be $200 in 2017 . In 2017 we expect to make contributions to our pension plans of approximately $500 . Estimated Future Benefit Payments The table below reflects the total pension benefits expected to be paid from the plans or from our assets, including both our share of the benefit cost and the participants’ share of the cost, which is funded by participant contributions. OPB payments reflect our portion only. Year(s) 2017 2018 2019 2020 2021 2022-2026 Pensions $4,558 $4,622 $4,611 $4,662 $4,637 $23,108 Other postretirement benefits: Gross benefits paid 498 515 530 548 553 2,654 Subsidies (32 ) (31 ) (31 ) (31 ) (30 ) (143 ) Net other postretirement benefits $466 $484 $499 $517 $523 $2,511 Termination Provisions Certain of the pension plans provide that, in the event there is a change in control of the Company which is not approved by the Board of Directors and the plans are terminated within five years thereafter, the assets in the plan first will be used to provide the level of retirement benefits required by ERISA , and then any surplus will be used to fund a trust to continue present and future payments under the postretirement medical and life insurance benefits in our group insurance benefit programs. Should we terminate certain pension plans under conditions in which the plan’s assets exceed that plan’s obligations, the U.S. government will be entitled to a fair allocation of any of the plan’s assets based on plan contributions that were reimbursed under U.S. government contracts. Defined Contribution Plans We provide certain defined contribution plans to all eligible employees. The principal plans are the Company-sponsored 401(k) plans. The expense for these defined contribution plans was $1,413 , $768 and $764 in 2016, 2015 and 2014 , respectively. |
Share-Based Compensation And Ot
Share-Based Compensation And Other Compensation Arrangements | 12 Months Ended |
Dec. 31, 2016 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |
Share-Based Compensation And Other Compensation Arrangements | Share-Based Compensation and Other Compensation Arrangements Share-Based Compensation Our 2003 Incentive Stock Plan, as amended and restated, permits awards of incentive and non-qualified stock options, stock appreciation rights, restricted stock or units, performance shares, performance restricted stock or units, performance units and other stock and cash-based awards to our employees, officers, directors, consultants, and independent contractors. The aggregate number of shares of our stock authorized for issuance under the plan is 87,000,000 . Shares issued as a result of stock option exercises or conversion of stock unit awards will be funded out of treasury shares, except to the extent there are insufficient treasury shares, in which case new shares will be issued. We believe we currently have adequate treasury shares to satisfy these issuances during 2017 . Share-based plans expense is primarily included in General and administrative expense since it is incentive compensation issued primarily to our executives. The share-based plans expense and related income tax benefit were as follows: Years ended December 31, 2016 2015 2014 Stock options $4 $30 $62 Restricted stock units and other awards 189 160 133 Share-based plans expense $193 $190 $195 Income tax benefit $69 $68 $70 Stock Options We discontinued granting options in 2014, replacing them with performance-based restricted stock units. Options granted through January 2014 had an exercise price equal to the fair market value of our stock on the date of grant and expire ten years after the date of grant. The stock options vest over a period of three years and were fully vested at December 31, 2016 , except for 6,221 shares which vested in January 2017. Stock option activity for the year ended December 31, 2016 is as follows: Shares Weighted Average Exercise Price Per Share Weighted Average Remaining Contractual Life (Years) Aggregate Intrinsic Value Number of shares under option: Outstanding at beginning of year 12,925,944 $73.44 Exercised (4,270,336) 75.04 Forfeited (6,270) 84.20 Expired (2,726) 74.43 Outstanding at end of year 8,646,612 $72.64 4.67 $718 Exercisable at end of year 8,640,391 $72.60 4.67 $718 The total intrinsic value of options exercised during the years ended December 31, 2016, 2015 and 2014 was $265 , $385 and $250 , respectively. Cash received from options exercised during the years ended December 31, 2016, 2015 and 2014 was $321 , $399 and $343 with a related tax benefit of $94 , $135 and $87 , respectively, derived from the compensation deductions resulting from these option exercises. The grant date fair value of stock options vested during the years ended December 31, 2016, 2015 and 2014 was $27 , $56 and $87 , respectively. Restricted Stock Units In February 2016, 2015 and 2014 , we granted to our executives 777,837 , 590,778 and 695,651 restricted stock units (RSUs) as part of our long-term incentive program with grant date fair values of $117.50 , $154.64 and $129.58 per unit, respectively. The RSUs granted under this program will vest and settle in common stock (on a one-for-one basis) on the third anniversary of the grant date. If an executive terminates employment because of retirement, involuntary layoff, disability, or death, the employee (or beneficiary) will receive a proration of stock units based on active employment during the three-year service period. In all other cases, the RSUs will not vest and all rights to the stock units will terminate. In addition to RSUs awarded under our long-term incentive program, we grant RSUs to certain executives and employees to encourage retention or to reward various achievements. These RSUs are labeled other RSUs in the table below. The fair values of all RSUs are estimated using the average of the high and low stock prices on the date of grant. RSU activity for the year ended December 31, 2016 was as follows: Long-Term Incentive Program Other Number of units: Outstanding at beginning of year 2,346,640 1,121,001 Granted 811,317 391,961 Dividends 66,609 35,848 Forfeited (165,111 ) (46,115 ) Distributed (1,244,811 ) (424,775 ) Outstanding at end of year 1,814,644 1,077,920 Unrecognized compensation cost $92 $58 Weighted average remaining contractual life (years) 1.8 3.8 The number of vested but undistributed RSUs at December 31, 2016 was not significant. Performance-Based Restricted Stock Units Performance-Based Restricted Stock Units (PBRSUs) are stock units that pay out based on the Company’s total shareholder return as compared to a group of peer companies over a three-year period. The award payout can range from 0% to 200% of the initial PBRSU grant, but will not exceed 400% of the initial value (excluding dividend equivalent credits). The PBRSUs granted under this program will vest at the payout amount and settle in common stock (on a one-for-one basis) on the third anniversary of the grant date. If an executive terminates employment because of retirement, involuntary layoff, disability, or death, the employee (or beneficiary) remains eligible under the award and, if the award is earned, will receive a proration of stock units based on active employment during the three-year service period. In all other cases, the PBRSUs will not vest and all rights to the stock units will terminate. In February 2016, 2015 and 2014 , we granted to our executives 721,176 , 556,203 and 662,215 PBRSUs as part of our long-term incentive program. Compensation expense for the award is recognized over the three-year performance period based upon the grant date fair value. The grant date fair values were estimated using a Monte-Carlo simulation model with the assumptions presented below. The model includes no expected dividend yield as the units earn dividend equivalents. Grant Year Grant Date Performance Period Expected Volatility Risk Free Interest Rate Grant Date Fair Value 2016 2/22/2016 3 years 22.44 % 0.92 % 126.74 2015 2/23/2015 3 years 20.35 % 1.03 % 164.26 2014 2/24/2014 3 years 24.2 % 0.72 % 136.12 PBRSU activity for the year ended December 31, 2016 was as follows: Long-Term Incentive Program Number of units: Outstanding at beginning of year 1,123,035 Granted 721,176 Dividends 52,540 Forfeited (150,240 ) Outstanding at end of year 1,746,511 Unrecognized compensation cost $86 Weighted average remaining contractual life (years) 1.8 Other Compensation Arrangements Performance Awards Performance Awards are cash units that pay out based on the achievement of long-term financial goals at the end of a three-year period. Each unit has an initial value of $100 dollars. The amount payable at the end of the three-year performance period may be anywhere from $0 to $200 dollars per unit, depending on the Company’s performance against plan for a three-year period. The Compensation Committee has the discretion to pay these awards in cash, stock, or a combination of both after the three-year performance period. Compensation expense, based on the estimated performance payout, is recognized ratably over the performance period. During 2016, 2015 and 2014 , we granted Performance Awards to our executives as part of our long-term incentive program with the payout based on the achievement of financial goals for each three -year period following the grant date. The minimum payout amount is $0 and the maximum amount we could be required to pay out for the 2016, 2015 and 2014 Performance Awards is $338 , $322 and $315 , respectively. The 2014 grant is expected to be paid out in cash in March 2017 . Deferred Compensation The Company has a deferred compensation plan which permits executives to defer receipt of a portion of their salary, bonus, and certain other incentive awards. Participants can diversify deferred compensation among 23 investment funds including a Boeing stock unit account. Total expense related to deferred compensation was $46 , $63 and $44 in 2016, 2015 and 2014 , respectively. As of December 31, 2016 and 2015 , the deferred compensation liability which is being marked to market was $1,126 and $1,191 . |
Shareholders' Equity
Shareholders' Equity | 12 Months Ended |
Dec. 31, 2016 | |
Stockholders' Equity Note [Abstract] | |
Shareholders' Equity | Shareholders’ Equity On December 12, 2016 , the Board approved a new repurchase plan for up to $14,000 of common stock, replacing the previously authorized program. The program will expire when we have used all authorized funds or is otherwise terminated. As of December 31, 2016 and 2015 , there were 1,200,000,000 shares of common stock and 20,000,000 shares of preferred stock authorized. No preferred stock has been issued. Changes in Share Balances The following table shows changes in each class of shares: Common Stock Treasury Stock Balance at January 1, 2014 1,012,261,159 264,882,461 Issued (6,719,270 ) Acquired 47,370,415 Balance at December 31, 2014 1,012,261,159 305,533,606 Issued (7,288,113 ) Acquired 47,391,861 Balance at December 31, 2015 1,012,261,159 345,637,354 Issued (6,376,868 ) Acquired 55,849,082 Balance at December 31, 2016 1,012,261,159 395,109,568 Accumulated Other Comprehensive Loss Changes in Accumulated other comprehensive income/(loss) (AOCI) by component for the years ended December 31, 2016 , 2015 and 2014 were as follows: Currency Translation Adjustments Unrealized Gains and Losses on Certain Investments Unrealized Gains and Losses on Derivative Instruments Defined Benefit Pension Plans & Other Postretirement Benefits Total (1) Balance at January 1, 2014 $150 ($8 ) ($6 ) ($10,030 ) ($9,894 ) Other comprehensive income/(loss) before reclassifications (97 ) (137 ) (4,644 ) (4,878 ) Amounts reclassified from AOCI 7 862 (2) 869 Net current period Other comprehensive income/(loss) (97 ) (130 ) (3,782 ) (4,009 ) Balance at December 31, 2014 $53 ($8 ) ($136 ) ($13,812 ) ($13,903 ) Other comprehensive income/(loss) before reclassifications (92 ) 8 (140 ) 173 (51 ) Amounts reclassified from AOCI 79 1,127 (2) 1,206 Net current period Other comprehensive income/(loss) (92 ) 8 (61 ) 1,300 1,155 Balance at December 31, 2015 ($39 ) $— ($197 ) ($12,512 ) ($12,748 ) Other comprehensive income/(loss) before reclassifications (104 ) ($2 ) (8 ) (1,320 ) (1,434 ) Amounts reclassified from AOCI 78 481 (2) 559 Net current period Other comprehensive income/(loss) (104 ) (2 ) 70 (839 ) (875 ) Balance at December 31, 2016 ($143 ) ($2 ) ($127 ) ($13,351 ) ($13,623 ) (1) Net of tax. (2) Primarily relates to amortization of actuarial losses for the years ended December 31, 2016 , 2015 , and 2014 totaling $524 , $1,038 , and $661 (net of tax of ($288) , ($570) , and ($367) ), respectively. These are included in the net periodic pension cost of which a portion is allocated to production as inventoried costs. See Note 14 . |
Derivative Financial Instrument
Derivative Financial Instruments | 12 Months Ended |
Dec. 31, 2016 | |
Summary of Derivative Instruments [Abstract] | |
Derivative Financial Instruments | Derivative Financial Instruments Cash Flow Hedges Our cash flow hedges include foreign currency forward contracts, commodity swaps, and commodity purchase contracts. We use foreign currency forward contracts to manage currency risk associated with certain transactions, specifically forecasted sales and purchases made in foreign currencies. Our foreign currency contracts hedge forecasted transactions through 2022 . We use commodity derivatives, such as swaps and fixed-price purchase commitments to hedge against potentially unfavorable price changes for items used in production. Our commodity contracts hedge forecasted transactions through 2020 . Fair Value Hedges Interest rate swaps under which we agree to pay variable rates of interest are designated as fair value hedges of fixed-rate debt. The net change in fair value of the derivatives and the hedged items is reported in Boeing Capital interest expense. Derivative Instruments Not Receiving Hedge Accounting Treatment We have entered into agreements to purchase and sell aluminum to address long-term strategic sourcing objectives and international business requirements. These agreements are derivative instruments for accounting purposes. The quantities of aluminum in these agreements offset and are priced at prevailing market prices. We also hold certain foreign currency forward contracts which do not qualify for hedge accounting treatment. Notional Amounts and Fair Values The notional amounts and fair values of derivative instruments in the Consolidated Statements of Financial Position as of December 31 were as follows: Notional amounts (1) Other assets Accrued liabilities 2016 2015 2016 2015 2016 2015 Derivatives designated as hedging instruments: Foreign exchange contracts $2,584 $2,727 $34 $23 ($225 ) ($304 ) Interest rate contracts 125 125 6 9 Commodity contracts 53 40 7 2 (5 ) (13 ) Derivatives not receiving hedge accounting treatment: Foreign exchange contracts 465 436 21 4 (17 ) (11 ) Commodity contracts 648 725 Total derivatives $3,875 $4,053 68 38 (247 ) (328 ) Netting arrangements (45 ) (23 ) 45 23 Net recorded balance $23 $15 ($202 ) ($305 ) (1) Notional amounts represent the gross contract/notional amount of the derivatives outstanding. Gains/(losses) associated with our cash flow and undesignated hedging transactions and their effect on Other comprehensive income/(loss) and Net earnings were as follows: Years ended December 31, 2016 2015 Effective portion recognized in Other comprehensive income/(loss), net of taxes: Foreign exchange contracts ($9 ) ($136 ) Commodity contracts 1 (4 ) Effective portion reclassified out of Accumulated other comprehensive loss into earnings, net of taxes: Foreign exchange contracts (70 ) (67 ) Commodity contracts (8 ) (12 ) Forward points recognized in Other income, net: Foreign exchange contracts 13 12 Undesignated derivatives recognized in Other income, net: Foreign exchange contracts (2 ) (1 ) Based on our portfolio of cash flow hedges, we expect to reclassify losses of $101 (pre-tax) out of Accumulated other comprehensive loss into earnings during the next 12 months. Ineffectiveness related to our hedges recognized in Other income was insignificant for the years ended December 31, 2016 and 2015 . We have derivative instruments with credit-risk-related contingent features. For foreign exchange contracts with original maturities of at least five years, our derivative counterparties could require settlement if we default on our five-year credit facility. For certain commodity contracts, our counterparties could require collateral posted in an amount determined by our credit ratings. The fair value of foreign exchange and commodity contracts that have credit-risk-related contingent features that are in a net liability position at December 31, 2016 was $46 . At December 31, 2016 , there was no collateral posted related to our derivatives. |
Significant Group Concentration
Significant Group Concentrations Of Risk | 12 Months Ended |
Dec. 31, 2016 | |
Risks and Uncertainties [Abstract] | |
Significant Group Concentrations Of Risk | Significant Group Concentrations of Risk Credit Risk Financial instruments involving potential credit risk are predominantly with commercial aircraft customers and the U.S. government. Of the $13,108 in gross accounts receivable and gross customer financing included in the Consolidated Statements of Financial Position as of December 31, 2016 , $6,380 related predominantly to commercial aircraft customers ( $2,175 of accounts receivable and $4,205 of customer financing) and $4,639 related to the U.S. government. Of the $4,211 in gross customer financing, $2,760 related to customers we believe have less than investment-grade credit including Volga Dnepr Affiliates, Silk Way Airlines and American Airlines who were associated with 18% , 9% and 6% , respectively, of our financing portfolio. Financing for aircraft is collateralized by security in the related asset and in some instances security in other assets as well. Other Risk As of December 31, 2016 , approximately 38% of our total workforce was represented by collective bargaining agreements. |
Fair Value Measurements
Fair Value Measurements | 12 Months Ended |
Dec. 31, 2016 | |
Fair Value Disclosures [Abstract] | |
Fair Value Measurements | Fair Value Measurements The fair value hierarchy has three levels based on the reliability of the inputs used to determine fair value. Level 1 refers to fair values determined based on quoted prices in active markets for identical assets. Level 2 refers to fair values estimated using significant other observable inputs and Level 3 includes fair values estimated using significant unobservable inputs. The following table presents our assets and liabilities that are measured at fair value on a recurring basis and are categorized using the fair value hierarchy. December 31, 2016 December 31, 2015 Total Level 1 Level 2 Total Level 1 Level 2 Assets Money market funds $2,858 $2,858 $4,504 $4,504 Available-for-sale investments: Commercial paper 162 162 87 87 Corporate notes 271 271 79 79 U.S. government agencies 63 63 83 83 Other 46 46 20 20 Derivatives 23 23 15 $15 Total assets $3,423 $2,904 $519 $4,788 $4,524 $264 Liabilities Derivatives ($202 ) ($202 ) ($305 ) ($305 ) Total liabilities ($202 ) ($202 ) ($305 ) ($305 ) Money market funds, available-for-sale debt investments and equity securities are valued using a market approach based on the quoted market prices or broker/dealer quotes of identical or comparable instruments. Derivatives include foreign currency, commodity and interest rate contracts. Our foreign currency forward contracts are valued using an income approach based on the present value of the forward rate less the contract rate multiplied by the notional amount. Commodity derivatives are valued using an income approach based on the present value of the commodity index prices less the contract rate multiplied by the notional amount. The fair value of our interest rate swaps is derived from a discounted cash flow analysis based on the terms of the contract and the interest rate curve. Certain assets have been measured at fair value on a nonrecurring basis using significant unobservable inputs (Level 3). The following table presents the nonrecurring losses recognized for the years ended December 31 due to long-lived asset impairment, and the fair value and asset classification of the related assets as of the impairment date: 2016 2015 Fair Value Total Losses Fair Value Total Losses Operating lease equipment $84 ($52 ) $270 ($159 ) Property, plant and equipment 10 (9 ) 8 (6 ) Other assets and Acquired intangible assets 12 (10 ) Total $106 ($71 ) $278 ($165 ) The fair value of the impaired operating lease equipment is derived by calculating a median collateral value from a consistent group of third party aircraft value publications. The values provided by the third party aircraft publications are derived from their knowledge of market trades and other market factors. Management reviews the publications quarterly to assess the continued appropriateness and consistency with market trends. Under certain circumstances, we adjust values based on the attributes and condition of the specific aircraft or equipment, usually when the features or use of the aircraft vary significantly from the more generic aircraft attributes covered by third party publications, or on the expected net sales price for the aircraft. Property, plant and equipment and Acquired intangible assets were primarily valued using an income approach based on the discounted cash flows associated with the underlying assets. For Level 3 assets that were measured at fair value on a nonrecurring basis during the year ended December 31, 2016 , the following table presents the fair value of those assets as of the measurement date, valuation techniques and related unobservable inputs of those assets. Fair Value Valuation Technique(s) Unobservable Input Range Median or Average Operating lease equipment $84 Market approach Aircraft value publications $158 - $264 (1) Median $212 Aircraft condition adjustments ($128) - $0 (2) Net ($128) (1) The range represents the sum of the highest and lowest values for all aircraft subject to fair value measurement, according to the third party aircraft valuation publications that we use in our valuation process. (2) The negative amount represents the sum, for all aircraft subject to fair value measurement, of all downward adjustments based on consideration of individual aircraft attributes and condition. The positive amount represents the sum of all such upward adjustments. Fair Value Disclosures The fair values and related carrying values of financial instruments that are not required to be remeasured at fair value on the Consolidated Statements of Financial Position at December 31 were as follows: December 31, 2016 Carrying Amount Total Fair Value Level 1 Level 2 Level 3 Assets Accounts receivable, net $8,832 $8,830 $8,830 Notes receivable, net 807 803 803 Liabilities Debt, excluding capital lease obligations (9,815 ) (11,209 ) (11,078 ) ($131 ) December 31, 2015 Carrying Amount Total Fair Value Level 1 Level 2 Level 3 Assets Accounts receivable, net $8,713 $8,705 $8,705 Notes receivable, net 255 273 273 Liabilities Debt, excluding capital lease obligations (9,814 ) (11,292 ) (11,123 ) ($169 ) The fair value of Accounts receivable is based on current market rates for loans of the same risk and maturities. The fair values of notes receivable are estimated with discounted cash flow analysis using interest rates currently offered on loans with similar terms to borrowers of similar credit quality. The fair value of our debt that is traded in the secondary market is classified as Level 2 and is based on current market yields. For our debt that is not traded in the secondary market, the fair value is classified as Level 2 and is based on our indicative borrowing cost derived from dealer quotes or discounted cash flows. The fair values of our debt classified as Level 3 are based on discounted cash flow models using the implied yield from similar securities. With regard to other financial instruments with off-balance sheet risk, it is not practicable to estimate the fair value of our indemnifications and financing commitments because the amount and timing of those arrangements are uncertain. Items not included in the above disclosures include cash, restricted cash, time deposits and other deposits, commercial paper, money market funds, Accounts payable and long-term payables. The carrying values of those items, as reflected in the Consolidated Statements of Financial Position, approximate their fair value at December 31, 2016 and 2015 . The fair value of assets and liabilities whose carrying value approximates fair value is determined using Level 2 inputs, with the exception of cash (Level 1). |
Legal Proceedings
Legal Proceedings | 12 Months Ended |
Dec. 31, 2016 | |
Loss Contingency, Information about Litigation Matters [Abstract] | |
Legal Proceedings | Legal Proceedings Various legal proceedings, claims and investigations related to products, contracts, employment and other matters are pending against us. In addition, we are subject to various U.S. government inquiries and investigations from which civil, criminal or administrative proceedings could result or have resulted in the past. Such proceedings involve or could involve claims by the government for fines, penalties, compensatory and treble damages, restitution and/or forfeitures. Under government regulations, a company, or one or more of its operating divisions or subdivisions, can also be suspended or debarred from government contracts, or lose its export privileges, based on the results of investigations. We believe, based upon current information, that the outcome of any such legal proceeding, claim, or government dispute and investigation will not have a material effect on our financial position, results of operations, or cash flows. |
Segment Information
Segment Information | 12 Months Ended |
Dec. 31, 2016 | |
Segment Reporting [Abstract] | |
Segment Information | Segment Information We operate in five principal segments: Commercial Airplanes; Boeing Military Aircraft ( BMA ), Network & Space Systems ( N&SS ), and Global Services & Support ( GS&S ), collectively Defense, Space & Security ; and Boeing Capital (BCC). All other activities fall within Unallocated items, eliminations and other. See page 54 for the Summary of Business Segment Data, which is an integral part of this note. The Commercial Airplanes segment develops, produces and markets commercial jet aircraft and provides related support services, principally to the commercial airline industry worldwide. Our BMA segment is engaged in the research, development, production and modification of manned and unmanned military aircraft and weapons systems for global strike, including fighter aircraft and missile systems; vertical lift including rotorcraft and tilt-rotor aircraft; mobility, surveillance and engagement, including battle management, airborne, anti-submarine, transport and tanker aircraft. Our N&SS segment is engaged in the research, development, production and modification of the following products and related services: strategic defense and intelligence systems, including strategic missile and defense systems, command, control, communications, computers, intelligence, surveillance and reconnaissance (C4ISR), cyber and information solutions, and intelligence systems; satellite systems, including government and commercial satellites and space exploration. Our GS&S segment provides customers with mission readiness through total support solutions. Our global services business sustains aircraft and systems with a full spectrum of products and services through integrated logistics, including supply chain management and engineering support; maintenance, modification and upgrades for aircraft; and training systems and government services, including pilot and maintenance training. Our BCC segment facilitates, arranges, structures and provides selective financing solutions for our Boeing customers. Unallocated items, eliminations and other include common internal services that support Boeing’s global business operations, as well as technical and functional capabilities, including information technology, research and development, test and evaluation, technology strategy development, environmental remediation management and intellectual property management. It also includes intercompany guarantees provided to BCC and eliminations of certain sales between BCA, BCC and BDS. In November 2016, we announced plans for the formation of Boeing Global Services (BGS), which will bring together certain Commercial Aviation Services businesses, currently included in the Commercial Airplanes segment, and certain BDS businesses (primarily those currently included in the GS&S segment). We expect Boeing Global Services to be operational during the second half of 2017. We will continue to report using the existing segment structure until BGS is operational and has discrete financial information that is being provided to the Chief Operating Decision Maker. While our principal operations are in the United States, Canada and Australia, some key suppliers and subcontractors are located in Europe and Japan. Revenues, including foreign military sales, are reported by customer location and consisted of the following: Years ended December 31, 2016 2015 2014 Asia, other than China $10,553 $13,433 $11,900 Europe 13,790 12,248 11,898 China 10,312 12,556 11,029 Middle East 13,297 10,846 9,243 Oceania 1,843 2,601 1,757 Canada 2,076 1,870 1,901 Africa 1,999 1,398 2,596 Latin America, Caribbean and other 1,936 1,875 2,596 Total non-U.S. revenues 55,806 56,827 52,920 United States 38,765 39,287 37,842 Total revenues $94,571 $96,114 $90,762 Revenues from the U.S. government (including foreign military sales through the U.S. government), primarily recorded at BDS, represented 23% , 27% and 30% of consolidated revenues for 2016 , 2015 and 2014 , respectively. Approximately 4% of operating assets were located outside the United States as of December 31, 2016 and 2015 . The information in the following tables is derived directly from the segments’ internal financial reporting used for corporate management purposes. Depreciation and Amortization Years ended December 31, 2016 2015 2014 Commercial Airplanes $682 $625 $674 Defense, Space & Security: Boeing Military Aircraft 113 142 164 Network & Space Systems 106 106 114 Global Services & Support 73 80 75 Total Defense, Space & Security 292 328 353 Boeing Capital Corporation 83 87 97 Unallocated items, eliminations and other 853 793 782 Total $1,910 $1,833 $1,906 Capital Expenditures Years ended December 31, 2016 2015 2014 Commercial Airplanes $993 $889 $698 Defense, Space & Security: Boeing Military Aircraft 161 128 175 Network & Space Systems 63 98 93 Global Services & Support 112 62 68 Total Defense, Space & Security 336 288 336 Unallocated items, eliminations and other 1,284 1,273 1,202 Total $2,613 $2,450 $2,236 Unallocated capital expenditures relate primarily to assets managed centrally on behalf of the five principal segments. We recorded Earnings from operations associated with our cost and equity method investments of $46 , $64 and $58 in our Commercial Airplanes segment and $257 , $210 and $229 in BDS, primarily in our N&SS segment, for the years ended December 31, 2016 , 2015 and 2014 , respectively. For segment reporting purposes, we record Commercial Airplanes segment revenues and cost of sales for airplanes transferred to other segments. Such transfers may include airplanes accounted for as operating leases and considered transferred to the BCC segment and airplanes transferred to the BDS segment for further modification prior to delivery to the customer. The revenues and cost of sales for these transfers are eliminated in the Unallocated items and eliminations caption. For segment reporting purposes, we record BDS revenues and cost of sales for the modification performed on airplanes received from Commercial Airplanes when the airplane is delivered to the customer or at the attainment of performance milestones. Intersegment revenues, eliminated in Unallocated items, eliminations and other, are shown in the following table. Years ended December 31, 2016 2015 2014 Commercial Airplanes $2,142 $1,831 $1,822 Boeing Capital 16 15 19 Total $2,158 $1,846 $1,841 Unallocated Items, Eliminations and other Unallocated items, eliminations and other includes costs not attributable to business segments as well as intercompany profit eliminations. We generally allocate costs to business segments based on the U.S. federal cost accounting standards. Components of Unallocated items, eliminations and other are shown in the following table. Years ended December 31, 2016 2015 2014 Share-based plans ($66 ) ($76 ) ($67 ) Deferred compensation (46 ) (63 ) (44 ) Amortization of previously capitalized interest (94 ) (90 ) (72 ) Eliminations and other unallocated items (527 ) (511 ) (593 ) Sub-total (733 ) (740 ) (776 ) Pension 217 (421 ) (1,469 ) Postretirement 153 123 82 Pension and Postretirement 370 (298 ) (1,387 ) Total ($363 ) ($1,038 ) ($2,163 ) Unallocated Pension and Other Postretirement Benefit Expense Unallocated pension and other postretirement benefit expense represents the portion of pension and other postretirement benefit costs that are not recognized by business segments for segment reporting purposes. Pension costs, comprising Generally Accepted Accounting Principles in the United States of America ( GAAP ) service and prior service costs, are allocated to Commercial Airplanes. Pension costs are allocated to BDS using U.S. Government Cost Accounting Standards ( CAS ), which employ different actuarial assumptions and accounting conventions than GAAP . These costs are allocable to government contracts. Other postretirement benefit costs are allocated to business segments based on CAS , which is generally based on benefits paid. Assets Segment assets are summarized in the table below. December 31, 2016 2015 Commercial Airplanes $55,527 $57,253 Defense, Space & Security: Boeing Military Aircraft 6,698 6,793 Network & Space Systems 6,113 6,307 Global Services & Support 4,020 4,567 Total Defense, Space & Security 16,831 17,667 Boeing Capital 4,139 3,492 Unallocated items, eliminations and other 13,500 15,996 Total $89,997 $94,408 Assets included in Unallocated items, eliminations and other primarily consist of Cash and cash equivalents, Short-term and other investments, Deferred tax assets, capitalized interest and assets held centrally as well as intercompany eliminations. |
Quarterly Financial Data
Quarterly Financial Data | 12 Months Ended |
Dec. 31, 2016 | |
Quarterly Financial Information Disclosure [Abstract] | |
Quarterly Financial Data (unaudited) | Quarterly Financial Data (Unaudited) 2016 2015 4th 3rd 2nd 1st 4th 3rd 2nd 1st Total revenues $23,286 $23,898 $24,755 $22,632 $23,573 $25,849 $24,543 $22,149 Total costs and expenses (19,464 ) (19,904 ) (22,325 ) (19,097 ) (20,642 ) (21,600 ) (21,350 ) (18,496 ) Earnings from operations 2,183 2,282 (419 ) 1,788 1,161 2,580 1,683 2,019 Net earnings/(loss) 1,631 2,279 (234 ) 1,219 1,026 1,704 1,110 1,336 Basic earnings per share 2.63 3.64 (0.37 ) 1.85 1.52 2.50 1.61 1.89 Diluted earnings per share 2.59 3.60 (0.37 ) 1.83 1.51 2.47 1.59 1.87 Cash dividends declared per share 2.51 2.18 2.00 1.82 Common stock sales price per share: High 160.07 139.45 137.89 141.70 150.59 149.18 155.50 158.83 Low 130.74 123.96 122.35 102.10 128.56 115.14 138.44 126.18 Quarter end 155.68 131.74 129.87 126.94 144.59 130.95 138.72 150.08 Gross profit is calculated as Total revenues minus Total costs and expenses. Total costs and expenses includes Cost of products, Cost of services and Boeing Capital interest expense. During the second quarter of 2016, first quarter of 2016 and fourth quarter of 2015, we recorded reach-forward losses of $1,188 , $70 and $885 , respectively, on the 747 program. During the second quarter of 2016, we determined that the fourth and fifth flight test aircraft for the 787 program are not commercially saleable, and we reclassified costs of $1,235 associated with these aircraft from 787 program inventory to research and development expense. During the fourth quarter of 2016, second quarter of 2016, first quarter of 2016, and second quarter of 2015, higher estimated costs to complete the KC-46A Tanker contract for the U.S. Air Force resulted in reach-forward losses of $312 , $573 , $243 and $835 , respectively. During the third quarter of 2016, delays in completion of engineering and supply chain activities for the Commercial Crew program resulted in a charge of $162 . In the fourth quarter of 2015, we recorded an income tax benefit of $235 related to the reinstatement of the research tax credit for 2015. During the third quarter of 2016, we recorded an incremental tax benefit of $440 that related to the application of a 2012 Federal Court of Claims decision. We also recorded a tax benefit of $177 as a result of the 2011-2012 federal tax audit settlements. We increased our quarterly dividend from $0.91 to $1.09 in December 2015 and to $1.42 in December 2016. |
Summary Of Significant Accoun33
Summary Of Significant Accounting Policies (Policy) | 12 Months Ended |
Dec. 31, 2016 | |
Accounting Policies [Abstract] | |
Principles Of Consolidation And Basis Of Presentation | Principles of Consolidation and Basis of Presentation The Consolidated Financial Statements included in this report have been prepared by management of The Boeing Company (herein referred to as “Boeing,” the “Company,” “we,” “us,” or “our”). These statements include the accounts of all majority-owned subsidiaries and variable interest entities that are required to be consolidated. All significant intercompany accounts and transactions have been eliminated. Certain amounts have been reclassified to conform to the current year presentation. |
Description of New Accounting Pronouncements Not yet Adopted | Standards Issued and Not Yet Implemented In February 2016, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) No. 2016 - 02, Leases (Topic 842) . The new standard is effective for reporting periods beginning after December 15, 2018 and early adoption is permitted. The standard will require lessees to report most leases as assets and liabilities on the balance sheet, while lessor accounting will remain substantially unchanged. The standard requires a modified retrospective transition approach for existing leases, whereby the new rules will be applied to the earliest year presented. We do not expect the new lease standard to have a material effect on our financial position, results of operations or cash flows. We plan to implement ASU No. 2014-09, Revenue from Contracts with Customers in the first quarter of 2018. This comprehensive new standard will supersede existing revenue recognition guidance and require revenue to be recognized when promised goods or services are transferred to customers in amounts that reflect the consideration to which the company expects to be entitled in exchange for those goods or services. The standard also requires expanded disclosures regarding revenue and contracts with customers. The guidance permits two implementation approaches, one requiring retrospective application of the new standard with restatement of prior years and one requiring prospective application of the new standard with disclosure of results under old standards. The Company plans to adopt the new standard effective January 1, 2018 and apply it retrospectively to all periods presented. We are analyzing the impact of the new standard on the Company’s revenue contracts, comparing our current accounting policies and practices to the requirements of the new standard, and identifying potential differences that would result from applying the new standard to our contracts. We are also identifying and implementing changes to the Company’s business processes, systems and controls to support adoption of the new standard in 2018 and recasting prior periods’ financial information. We expect adoption of the new standard will have a material impact on our income statement and balance sheet but are unable to quantify those impacts at this time. We currently expect that most of our BDS contracts that currently recognize revenue as deliveries are made or based on the attainment of performance milestones will recognize revenue under the new standard as costs are incurred. Certain military derivative aircraft contracts in our Commercial Airplane business will also recognize revenue as costs are incurred. The new standard will not change the total amount of revenue recognized on these contracts, only accelerate the timing of when the revenue is recognized. We expect a corresponding acceleration in timing of cost of sales recognition for these contracts resulting in a decrease in Inventories from long-term contracts in progress upon adoption of the new standard. We do not expect the new standard to affect revenue recognition or the use of program accounting for commercial airplane contracts in our Commercial Airplane business. We will continue to recognize revenue for these contracts at the point in time when the customer accepts delivery of the airplane. From a balance sheet perspective we expect adoption of the new standard will increase Total Assets and Total Liabilities because netting of advances from customers against inventory will no longer be permitted. This will result in an increase in the Advances liability and Inventories from commercial aircraft programs upon adoption of the new standard. |
Use Of Estimates | Use of Estimates Management makes assumptions and estimates to prepare financial statements in conformity with accounting principles generally accepted in the United States of America. Those assumptions and estimates directly affect the amounts reported in the Consolidated Financial Statements. Significant estimates for which changes in the near term are considered reasonably possible and that may have a material impact on the financial statements are disclosed in these Notes to the Consolidated Financial Statements. |
Operating Cycle | Operating Cycle For classification of certain current assets and liabilities, we use the duration of the related contract or program as our operating cycle, which is generally longer than one year . |
Revenue And Related Cost Recognition | Revenue and Related Cost Recognition Contract Accounting Contract accounting is used for development and production activities predominantly by Defense, Space & Security ( BDS ). The majority of business conducted by BDS is performed under contracts with the U.S. government and other customers that extend over several years. Contract accounting involves a judgmental process of estimating total sales and costs for each contract resulting in the development of estimated cost of sales percentages. For each contract, the amount reported as cost of sales is determined by applying the estimated cost of sales percentage to the amount of revenue recognized. When the current estimates of total sales and costs for a contract indicate a loss, a provision for the entire loss on the contract is recognized. Changes in estimated revenues, cost of sales and the related effect on operating income are recognized using a cumulative catch-up adjustment which recognizes in the current period the cumulative effect of the changes on current and prior periods based on a contract’s percent complete. In 2016 and 2015 , net unfavorable cumulative catch-up adjustments, including reach-forward losses, across all contracts decreased Earnings from operations by $912 and $224 and diluted EPS by $1.25 and $0.23 . In 2014 net favorable cumulative catch-up adjustments, including reach-forward losses, across all contracts increased Earnings from operations by $100 and diluted EPS by $0.10 . Significant adjustments during the three years ended December 31, 2016 included reach-forward losses of $1,128 , $835 and $425 on the USAF KC-46A Tanker contract recorded during 2016 , 2015 and 2014 . We combine contracts for accounting purposes when they are negotiated as a package with an overall profit margin objective. These essentially represent an agreement to do a single project for a single customer, involve interrelated construction activities with substantial common costs, and are performed concurrently or sequentially. When a group of contracts is combined, revenue and profit are earned uniformly over the performance of the combined contracts. Similarly, we may segment a single contract or group of contracts when a clear economic decision has been made during contract negotiations that would produce different rates of profitability for each element or phase of the contract. Sales related to fixed-price contracts are recognized as deliveries are made, except for certain fixed-price contracts that require substantial performance over an extended period before deliveries begin, for which sales are recorded based on the attainment of performance milestones. Sales related to contracts in which we are reimbursed for costs incurred plus an agreed upon profit are recorded as costs are incurred. The Federal Acquisition Regulations provide guidance on the types of cost that will be reimbursed in establishing contract price. Contracts may contain provisions to earn incentive and award fees if specified targets are achieved. Incentive and award fees that can be reasonably estimated and are probable are recorded over the performance period of the contract. Incentive and award fees that cannot be reasonably estimated are recorded when awarded. Program Accounting Our Commercial Airplanes segment predominantly uses program accounting to account for cost of sales related to its programs. Program accounting is applicable to products manufactured for delivery under production-type contracts where profitability is realized over multiple contracts and years. Under program accounting, inventoriable production costs, program tooling and other non-recurring costs, and warranty costs are accumulated and charged to cost of sales by program instead of by individual units or contracts. A program consists of the estimated number of units (accounting quantity) of a product to be produced in a continuing, long-term production effort for delivery under existing and anticipated contracts. The determination of the accounting quantity is limited by the ability to make reasonably dependable estimates of the revenue and cost of existing and anticipated contracts. To establish the relationship of sales to cost of sales, program accounting requires estimates of (a) the number of units to be produced and sold in a program, (b) the period over which the units can reasonably be expected to be produced, and (c) the units’ expected sales prices, production costs, program tooling and other non-recurring costs, and routine warranty costs for the total program. We recognize sales for commercial airplane deliveries as each unit is completed and accepted by the customer. Sales recognized represent the price negotiated with the customer, adjusted by an escalation formula as specified in the customer agreement. The amount reported as cost of sales is determined by applying the estimated cost of sales percentage for the total remaining program to the amount of sales recognized for airplanes delivered and accepted by the customer. Changes in estimated revenues, cost of sales and the related effects on program margins are recognized prospectively except in cases where the program is determined to have a reach-forward loss in which case the loss is recognized in the current period. See Note 11 . Concession Sharing Arrangements We account for sales concessions to our customers in consideration of their purchase of products and services as a reduction to revenue when the related products and services are delivered. The sales concessions incurred may be partially reimbursed by certain suppliers in accordance with concession sharing arrangements. We record these reimbursements, which are presumed to represent reductions in the price of the vendor’s products or services, as a reduction in Cost of products. Spare Parts Revenue We recognize sales of spare parts upon delivery and the amount reported as cost of sales is recorded at average cost. Service Revenue Service revenue is recognized when the service is performed with the exception of U.S. government service agreements, which are accounted for using contract accounting. Service activities primarily include: support agreements associated with military aircraft and helicopter contracts, space travel on Commercial Crew, ongoing maintenance of International Space Station, and technical and flight operation services for commercial aircraft. Service revenue and associated cost of sales from pay-in-advance subscription fees are deferred and recognized as services are rendered. Financial Services Revenue We record financial services revenue associated with sales-type/finance leases, operating leases, and notes receivable. Lease and financing revenue arrangements are included in Sales of services on the Consolidated Statements of Operations. For sales-type/finance leases, we record an asset at lease inception. This asset is recorded at the aggregate future minimum lease payments, estimated residual value of the leased equipment, and deferred incremental direct costs less unearned income. Income is recognized over the life of the lease to approximate a level rate of return on the net investment. Residual values, which are reviewed periodically, represent the estimated amount we expect to receive at lease termination from the disposition of the leased equipment. Actual residual values realized could differ from these estimates. Declines in estimated residual value that are deemed other-than-temporary are recognized in the period in which the declines occur. For operating leases, revenue on leased aircraft and equipment is recorded on a straight-line basis over the term of the lease. Operating lease assets, included in Customer financing, are recorded at cost and depreciated over the period that we project we will hold the asset to an estimated residual value, using the straight-line method. We periodically review our estimates of residual value and recognize forecasted changes by prospectively adjusting depreciation expense. For notes receivable, notes are recorded net of any unamortized discounts and deferred incremental direct costs. Interest income and amortization of any discounts are recorded ratably over the related term of the note. Reinsurance Revenue Our wholly-owned insurance subsidiary, Astro Ltd., participates in a reinsurance pool for workers’ compensation. The member agreements and practices of the reinsurance pool minimize any participating members’ individual risk. Reinsurance revenues were $147 , $136 and $135 during 2016 , 2015 and 2014 , respectively. Reinsurance costs related to premiums and claims paid to the reinsurance pool were $139 , $132 and $144 during 2016 , 2015 and 2014 , respectively. Revenues and costs are presented net in Cost of sales in the Consolidated Statements of Operations. |
Fleet Support | Fleet Support We provide assistance and services to facilitate efficient and safe aircraft operation to the operators of all our commercial airplane models. Collectively known as fleet support services, these activities and services include flight and maintenance training, field service support, engineering services, and technical data and documents. Fleet support activity begins prior to aircraft delivery as the customer receives training, manuals, and technical consulting support. This activity continues throughout the aircraft’s operational life. Services provided after delivery include field service support, consulting on maintenance, repair, and operational issues brought forth by the customer or regulators, updating manuals and engineering data, and the issuance of service bulletins that impact the entire model’s fleet. Field service support involves our personnel located at customer facilities providing and coordinating fleet support activities and requests. The costs for fleet support are expensed as incurred as Cost of services. |
Research And Development | Research and Development Research and development includes costs incurred for experimentation, design, and testing, as well as bid and proposal efforts related to government products and services which are expensed as incurred unless the costs are related to certain contractual arrangements with customers. Costs that are incurred pursuant to such contractual arrangements are recorded over the period that revenue is recognized, consistent with our contract accounting policy. We have certain research and development arrangements that meet the requirement for best efforts research and development accounting. Accordingly, the amounts funded by the customer are recognized as an offset to our research and development expense rather than as contract revenues. Research and development expense included bid and proposal costs of $311 , $286 and $289 in 2016 , 2015 and 2014 , respectively. |
Share-Based Compensation | Share-Based Compensation We provide various forms of share-based compensation to our employees. For awards settled in shares, we measure compensation expense based on the grant-date fair value net of estimated forfeitures. For awards settled in cash, or that may be settled in cash, we measure compensation expense based on the fair value at each reporting date net of estimated forfeitures. The expense is recognized over the requisite service period, which is generally the vesting period of the award. |
Income Taxes | Income Taxes Provisions for federal, state, and non-U.S. income taxes are calculated on reported Earnings before income taxes based on current tax law and also include, in the current period, the cumulative effect of any changes in tax rates from those used previously in determining deferred tax assets and liabilities. Such provisions differ from the amounts currently receivable or payable because certain items of income and expense are recognized in different time periods for financial reporting purposes than for income tax purposes. Significant judgment is required in determining income tax provisions and evaluating tax positions. The accounting for uncertainty in income taxes requires a more-likely-than-not threshold for financial statement recognition and measurement of tax positions taken or expected to be taken in a tax return. We record a liability for the difference between the benefit recognized and measured for financial statement purposes and the tax position taken or expected to be taken on our tax return. To the extent that our assessment of such tax positions changes, the change in estimate is recorded in the period in which the determination is made. Tax-related interest and penalties are classified as a component of Income tax expense. |
Postretirement Plans | Postretirement Plans The majority of our employees have earned benefits under defined benefit pension plans. Nonunion and the majority of union employees that had participated in defined benefit pension plans transitioned to a company-funded defined contribution retirement savings plan in 2016. We also provide postretirement benefit plans other than pensions, consisting principally of health care coverage to eligible retirees and qualifying dependents. Benefits under the pension and other postretirement benefit plans are generally based on age at retirement and years of service and, for some pension plans, benefits are also based on the employee’s annual earnings. The net periodic cost of our pension and other postretirement plans is determined using the projected unit credit method and several actuarial assumptions, the most significant of which are the discount rate, the long-term rate of asset return, and medical trend (rate of growth for medical costs). A portion of net periodic pension and other postretirement income or expense is not recognized in net earnings in the year incurred because it is allocated to production as product costs, and reflected in inventory at the end of a reporting period. Actuarial gains and losses, which occur when actual experience differs from actuarial assumptions, are reflected in Shareholders’ equity (net of taxes). If actuarial gains and losses exceed ten percent of the greater of plan assets or plan liabilities we amortize them over the average future service period of employees. The funded status of our pension and postretirement plans is reflected on the Consolidated Statements of Financial Position. |
Postemployment Plans | Postemployment Plans We record a liability for postemployment benefits, such as severance or job training, when payment is probable, the amount is reasonably estimable, and the obligation relates to rights that have vested or accumulated. |
Environmental Remediation | Environmental Remediation We are subject to federal and state requirements for protection of the environment, including those for discharge of hazardous materials and remediation of contaminated sites. We routinely assess, based on in-depth studies, expert analyses and legal reviews, our contingencies, obligations, and commitments for remediation of contaminated sites, including assessments of ranges and probabilities of recoveries from other responsible parties and/or insurance carriers. Our policy is to accrue and charge to current expense identified exposures related to environmental remediation sites when it is probable that a liability has been incurred and the amount can be reasonably estimated. The amount of the liability is based on our best estimate or the low end of a range of reasonably possible exposure for investigation, cleanup, and monitoring costs to be incurred. Estimated remediation costs are not discounted to present value as the timing of payments cannot be reasonably estimated. We may be able to recover a portion of the remediation costs from insurers or other third parties. Such recoveries are recorded when realization of the claim for recovery is deemed probable. The liabilities recorded represent our best estimate or the low end of a range of reasonably possible costs expected to be incurred to remediate sites, including operation and maintenance over periods of up to 30 years. It is reasonably possible that we may incur charges that exceed these recorded amounts because of regulatory agency orders and directives, changes in laws and/or regulations, higher than expected costs and/or the discovery of new or additional contamination. As part of our estimating process, we develop a range of reasonably possible alternate scenarios that includes the high end of a range of reasonably possible cost estimates for all remediation sites for which we have sufficient information based on our experience and existing laws and regulations. There are some potential remediation obligations where the costs of remediation cannot be reasonably estimated. At December 31, 2016 and 2015 , the high end of the estimated range of reasonably possible remediation costs exceeded our recorded liabilities by $857 and $853 . |
Cash And Cash Equivalents | Cash and Cash Equivalents Cash and cash equivalents consist of highly liquid instruments, such as commercial paper, time deposits, and other money market instruments, which have original maturities of three months or less. We aggregate our cash balances by bank where conditions for right of set-off are met, and reclassify any negative balances, consisting mainly of uncleared checks, to Accounts payable. Negative balances reclassified to Accounts payable were $77 and $163 at December 31, 2016 and 2015 . |
Inventories | Inventories Inventoried costs on commercial aircraft programs and long-term contracts include direct engineering, production and tooling and other non-recurring costs, and applicable overhead, which includes fringe benefits, production related indirect and plant management salaries and plant services, not in excess of estimated net realizable value. To the extent a material amount of such costs are related to an abnormal event or are fixed costs not appropriately attributable to our programs or contracts, they are expensed in the current period rather than inventoried. Inventoried costs include amounts relating to programs and contracts with long-term production cycles, a portion of which is not expected to be realized within one year. Included in inventory for federal government contracts is an allocation of allowable costs related to manufacturing process reengineering. Commercial aircraft programs inventory includes deferred production costs and supplier advances. Deferred production costs represent actual costs incurred for production of early units that exceed the estimated average cost of all units in the program accounting quantity. Higher production costs are experienced at the beginning of a new or derivative airplane program. Units produced early in a program require substantially more effort (labor and other resources) than units produced later in a program because of volume efficiencies and the effects of learning. We expect that these deferred costs will be fully recovered when all units included in the accounting quantity are delivered as the expected unit cost for later deliveries is below the estimated average cost of all units in the program. Supplier advances represent payments for parts we have contracted to receive from suppliers in the future. As parts are received, supplier advances are amortized to work in process. The determination of net realizable value of long-term contract costs is based upon quarterly reviews that estimate costs to be incurred to complete all contract requirements. When actual contract costs and the estimate to complete exceed total estimated contract revenues, a loss provision is recorded. The determination of net realizable value of commercial aircraft program costs is based upon quarterly program reviews that estimate revenue and cost to be incurred to complete the program accounting quantity. When estimated costs to complete exceed estimated program revenues to go, a program loss provision is recorded in the current period for the estimated loss on all undelivered units in the accounting quantity. Used aircraft purchased by the Commercial Airplanes segment and general stock materials are stated at cost not in excess of net realizable value. See ‘Aircraft Valuation’ within this Note for a discussion of our valuation of used aircraft. Spare parts inventory is stated at lower of average unit cost or net realizable value. We review our commercial spare parts and general stock materials quarterly to identify impaired inventory, including excess or obsolete inventory, based on historical sales trends, expected production usage, and the size and age of the aircraft fleet using the part. Impaired inventories are charged to Cost of products in the period the impairment occurs. Included in inventory for commercial aircraft programs are amounts paid or credited in cash, or other consideration to certain airline customers, that are referred to as early issue sales consideration. Early issue sales consideration is recognized as a reduction to revenue when the delivery of the aircraft under contract occurs. If an airline customer does not perform and take delivery of the contracted aircraft, we believe that we would have the ability to recover amounts paid. However, to the extent early issue sales consideration exceeds advances and is not considered to be otherwise recoverable, it would be written off in the current period. We net advances and progress billings on long-term contracts against inventory in the Consolidated Statements of Financial Position. Advances and progress billings in excess of related inventory are reported in Advances and billings in excess of related costs. |
Precontract Costs | Precontract Costs We may, from time to time, incur costs in excess of the amounts required for existing contracts. If we determine the costs are probable of recovery from future orders, then we capitalize the precontract costs we incur, excluding start-up costs which are expensed as incurred. Capitalized precontract costs are included in Inventories, net of advances and progress billings, in the accompanying Consolidated Statements of Financial Position. Should future orders not materialize or we determine the costs are no longer probable of recovery, the capitalized costs would be written off. |
Property, Plant And Equipment | Property, Plant and Equipment Property, plant and equipment are recorded at cost, including applicable construction-period interest, less accumulated depreciation and are depreciated principally over the following estimated useful lives: new buildings and land improvements, from 10 to 40 years; and new machinery and equipment, from 4 to 20 years. The principal methods of depreciation are as follows: buildings and land improvements, 150% declining balance; and machinery and equipment, sum-of-the-years’ digits. Capitalized internal use software is included in Other assets and amortized using the straight line method over 5 years. We periodically evaluate the appropriateness of remaining depreciable lives assigned to long-lived assets, including assets that may be subject to a management plan for disposition. Long-lived assets held for sale are stated at the lower of cost or fair value less cost to sell. Long-lived assets held for use are subject to an impairment assessment whenever events or changes in circumstances indicate that the carrying amount may not be recoverable. If the carrying value is no longer recoverable based upon the undiscounted future cash flows of the asset, the amount of the impairment is the difference between the carrying amount and the fair value of the asset. |
Asset Retirement Obligations | Asset Retirement Obligations We record all known asset retirement obligations for which the liability’s fair value can be reasonably estimated, including certain asbestos removal, asset decommissioning and contractual lease restoration obligations. Recorded amounts are not material. We also have known conditional asset retirement obligations, such as certain asbestos remediation and asset decommissioning activities to be performed in the future, that are not reasonably estimable due to insufficient information about the timing and method of settlement of the obligation. Accordingly, these obligations have not been recorded in the Consolidated Financial Statements. A liability for these obligations will be recorded in the period when sufficient information regarding timing and method of settlement becomes available to make a reasonable estimate of the liability’s fair value. In addition, there may be conditional asset retirement obligations that we have not yet discovered (e.g., asbestos may exist in certain buildings but we have not become aware of it through the normal course of business), and therefore, these obligations also have not been included in the Consolidated Financial Statements. |
Goodwill And Other Acquired Intangibles | Goodwill and Other Acquired Intangibles Goodwill and other acquired intangible assets with indefinite lives are not amortized, but are tested for impairment annually and when an event occurs or circumstances change such that it is more likely than not that an impairment may exist. Our annual testing date is April 1. We test goodwill for impairment by performing a qualitative assessment or using a two-step impairment process. If we choose to perform a qualitative assessment and determine it is more likely than not that the carrying value of the net assets is more than the fair value of the related operations, the two-step impairment process is then performed; otherwise, no further testing is required. For operations where the two-step impairment process is used, we first compare the carrying value of net assets to the fair value of the related operations. If the fair value is determined to be less than carrying value, a second step is performed to compute the amount of the impairment. In this process, a fair value for goodwill is estimated, based in part on the fair value of the operations, and is compared to its carrying value. The shortfall of the fair value below carrying value represents the amount of goodwill impairment. Indefinite-lived intangibles consist of brand and trade names acquired in business combinations. We test these intangibles for impairment by comparing their carrying value to current projections of discounted cash flows attributable to the brand and trade names. Any excess carrying value over the amount of discounted cash flows represents the amount of the impairment. Our finite-lived acquired intangible assets are amortized on a straight-line basis over their estimated useful lives as follows: developed technology, from 4 to 14 years; product know-how, from 3 to 30 years; customer base, from 3 to 17 years; distribution rights, from 3 to 27 years; and other, from 2 to 32 years. We evaluate the potential impairment of finite-lived acquired intangible assets whenever events or changes in circumstances indicate that the carrying amount may not be recoverable. If the carrying value is no longer recoverable based upon the undiscounted future cash flows of the asset, the amount of the impairment is the difference between the carrying amount and the fair value of the asset. |
Investments | Investments Time deposits are held-to-maturity investments that are carried at cost. Available-for-sale securities include commercial paper, U.S. treasury and U.S. government agency securities, and corporate debt securities. Available-for-sale securities are recorded at fair value, and unrealized gains and losses are recorded, net of tax, as a component of accumulated other comprehensive income. Realized gains and losses on available-for-sale securities are recognized based on the specific identification method. Available-for-sale securities are assessed for impairment quarterly. The equity method of accounting is used to account for investments for which we have the ability to exercise significant influence, but not control, over an investee. Significant influence is generally deemed to exist if we have an ownership interest in the voting stock of an investee of between 20% and 50% . We classify investment income and loss on our Consolidated Statements of Operations based on whether the investment is operating or non-operating in nature. Operating investments align strategically and are integrated with our operations. Earnings from operating investments, including our share of income or loss from equity method investments, dividend income from certain cost method investments, and any impairments or gain/loss on the disposition of these investments, are recorded in Income from operating investments, net. Non-operating investments are those we hold for non-strategic purposes. Earnings from non-operating investments, including interest and dividends on marketable securities, and any impairments or gain/loss on the disposition of these investments are recorded in Other income/(expense), net. |
Derivatives | Derivatives All derivative instruments are recognized in the financial statements and measured at fair value regardless of the purpose or intent of holding them. We use derivative instruments to principally manage a variety of market risks. For derivatives designated as hedges of the exposure to changes in fair value of the recognized asset or liability or a firm commitment (referred to as fair value hedges), the gain or loss is recognized in earnings in the period of change together with the offsetting loss or gain on the hedged item attributable to the risk being hedged. The effect of that accounting is to include in earnings the extent to which the hedge is not effective in achieving offsetting changes in fair value. For our cash flow hedges, the effective portion of the derivative’s gain or loss is initially reported in comprehensive income and is subsequently reclassified into earnings in the same period or periods during which the hedged forecasted transaction affects earnings. The ineffective portion of the gain or loss of a cash flow hedge is reported in earnings immediately. We have agreements to purchase and sell aluminum to address long-term strategic sourcing objectives and international business requirements. These agreements are derivatives for accounting purposes but are not designated for hedge accounting treatment. We also hold certain derivative instruments for economic purposes that are not designated for hedge accounting treatment. For these aluminum agreements and for other derivative instruments not designated for hedge accounting treatment, the changes in their fair value are recorded in earnings immediately. |
Aircraft Valuation | Aircraft Valuation Used aircraft under trade-in commitments and aircraft under repurchase commitments In conjunction with signing a definitive agreement for the sale of new aircraft (Sale Aircraft), we have entered into trade-in commitments with certain customers that give them the right to trade in used aircraft at a specified price upon the purchase of Sale Aircraft. Additionally, we have entered into contingent repurchase commitments with certain customers wherein we agree to repurchase the Sale Aircraft at a specified price, generally 10 to 15 years after delivery of the Sale Aircraft. Our repurchase of the Sale Aircraft is contingent upon a future, mutually acceptable agreement for the sale of additional new aircraft. If we execute an agreement for the sale of additional new aircraft, and if the customer exercises its right to sell the Sale Aircraft to us, a contingent repurchase commitment would become a trade-in commitment. Our historical experience is that contingent repurchase commitments infrequently become trade-in commitments. Exposure related to trade-in commitments may take the form of: (1) adjustments to revenue for the difference between the contractual trade-in price in the definitive agreement and our best estimate of the fair value of the trade-in aircraft as of the date of such agreement, which would be recognized upon delivery of the Sale Aircraft, and/or (2) charges to cost of products for adverse changes in the fair value of trade-in aircraft that occur subsequent to signing of a definitive agreement for Sale Aircraft but prior to the purchase of the used trade-in aircraft. Estimates based on current aircraft values would be included in Accrued liabilities. The fair value of trade-in aircraft is determined using aircraft-specific data such as model, age and condition, market conditions for specific aircraft and similar models, and multiple valuation sources. This process uses our assessment of the market for each trade-in aircraft, which in most instances begins years before the return of the aircraft. There are several possible markets in which we continually pursue opportunities to place used aircraft. These markets include, but are not limited to, the resale market, which could potentially include the cost of long-term storage; the leasing market, with the potential for refurbishment costs to meet the leasing customer’s requirements; or the scrap market. Trade-in aircraft valuation varies significantly depending on which market we determine is most likely for each aircraft. On a quarterly basis, we update our valuation analysis based on the actual activities associated with placing each aircraft into a market or using current published third-party aircraft valuations based on the type and age of the aircraft, adjusted for individual attributes and known conditions. Used aircraft acquired by the Commercial Airplanes segment are included in Inventories at the lower of cost or net realizable value as it is our intent to sell these assets. To mitigate costs and enhance marketability, aircraft may be placed on operating lease. While on operating lease, the assets are included in Customer financing. Customer financing Customer financing includes operating lease equipment, notes receivable, and sales-type/finance leases. Sales-type/finance leases are treated as receivables, and allowances for losses are established as necessary. We assess the fair value of the assets we own, including equipment under operating leases, assets held for sale or re-lease, and collateral underlying receivables, to determine if their fair values are less than the related assets’ carrying values. Differences between carrying values and fair values of sales-type/finance leases and notes and other receivables, as determined by collateral value, are considered in determining the allowance for losses on receivables. We use a median calculated from published collateral values from multiple third-party aircraft value publications based on the type and age of the aircraft to determine the fair value of aircraft. Under certain circumstances, we apply judgment based on the attributes of the specific aircraft or equipment, usually when the features or use of the aircraft vary significantly from the more generic aircraft attributes covered by outside publications. Impairment review for assets under operating leases and held for sale or re-lease We evaluate for impairment assets under operating lease or assets held for sale or re-lease when events or changes in circumstances indicate that the expected undiscounted cash flow from the asset may be less than the carrying value. We use various assumptions when determining the expected undiscounted cash flow, including our intentions for how long we will hold an asset subject to operating lease before it is sold, the expected future lease rates, lease terms, residual value of the asset, periods in which the asset may be held in preparation for a follow-on lease, maintenance costs, remarketing costs and the remaining economic life of the asset. We record assets held for sale at the lower of carrying value or fair value less costs to sell. When we determine that impairment is indicated for an asset, the amount of impairment expense recorded is the excess of the carrying value over the fair value of the asset. Allowance for losses on customer financing receivables We record the potential impairment of customer financing receivables in a valuation account, the balance of which is an accounting estimate of probable but unconfirmed losses. The allowance for losses on receivables relates to two components of receivables: (a) receivables that are evaluated individually for impairment and (b) all other receivables. We determine a receivable is impaired when, based on current information and events, it is probable that we will be unable to collect amounts due according to the original contractual terms of the receivable agreement, without regard to any subsequent restructurings. Factors considered in assessing collectability include, but are not limited to, a customer’s extended delinquency, requests for restructuring and filings for bankruptcy. We determine a specific impairment allowance based on the difference between the carrying value of the receivable and the estimated fair value of the related collateral we would expect to realize. We review the adequacy of the allowance attributable to the remaining receivables (after excluding receivables subject to a specific impairment allowance) by assessing both the collateral exposure and the applicable cumulative default rate. Collateral exposure for a particular receivable is the excess of the carrying value of the receivable over the fair value of the related collateral. A receivable with an estimated fair value in excess of the carrying value is considered to have no collateral exposure. The applicable cumulative default rate is determined using two components: customer credit ratings and weighted average remaining contract term. Internally assigned credit ratings, our credit quality indicator, are determined for each customer in the portfolio. Those ratings are updated based upon public information and information obtained directly from our customers. We have entered into agreements with certain customers that would entitle us to look beyond the specific collateral underlying the receivable for purposes of determining the collateral exposure as described above. Should the proceeds from the sale of the underlying collateral asset resulting from a default condition be insufficient to cover the carrying value of our receivable (creating a shortfall condition), these agreements would, for example, permit us to take the actions necessary to sell or retain certain other assets in which the customer has an equity interest and use the proceeds to cover the shortfall. Each quarter we review customer credit ratings, published historical credit default rates for different rating categories, and multiple third-party aircraft value publications as a basis to validate the reasonableness of the allowance for losses on receivables. There can be no assurance that actual results will not differ from estimates or that the consideration of these factors in the future will not result in an increase or decrease to the allowance for losses on receivables. |
Warranties | Warranties In conjunction with certain product sales, we provide warranties that cover factors such as non-conformance to specifications and defects in material and design. The majority of our warranties are issued by our Commercial Airplanes segment. Generally, aircraft sales are accompanied by a three to four -year standard warranty for systems, accessories, equipment, parts, and software manufactured by us or manufactured to certain standards under our authorization. These warranties are included in the programs’ estimate at completion. On occasion we have made commitments beyond the standard warranty obligation to correct fleet-wide major issues of a particular model, resulting in additional accrued warranty expense. Warranties issued by our BDS segments principally relate to sales of military aircraft and weapons hardware and are included in the contract cost estimates. These sales are generally accompanied by a six month to two -year warranty period and cover systems, accessories, equipment, parts, and software manufactured by us to certain contractual specifications. Estimated costs related to standard warranties are recorded in the period in which the related product sales occur. The warranty liability recorded at each balance sheet date reflects the estimated number of months of warranty coverage outstanding for products delivered times the average of historical monthly warranty payments, as well as additional amounts for certain major warranty issues that exceed a normal claims level. Estimated costs of these additional warranty issues are considered changes to the initial liability estimate. We provide guarantees to certain commercial airplane customers which include compensation provisions for failure to meet specified aircraft performance targets. We account for these performance guarantees as warranties. The estimated liability for these warranties is based on known and anticipated operational characteristics and forecasted customer operation of the aircraft relative to contractually specified performance targets, and anticipated settlements when contractual remedies are not specified. Estimated payments are recorded as a reduction of revenue at delivery of the related aircraft. We have agreements that require certain suppliers to compensate us for amounts paid to customers for failure of supplied equipment to meet specified performance targets. Claims against suppliers under these agreements are included in Inventories and recorded as a reduction in Cost of products at delivery of the related aircraft. These performance warranties and claims against suppliers are included in the programs’ estimate at completion. |
Supplier Penalties | Supplier Penalties We record an accrual for supplier penalties when an event occurs that makes it probable that a supplier penalty will be incurred and the amount is reasonably estimable. Until an event occurs, we fully anticipate accepting all products procured under production-related contracts. |
Guarantees | Guarantees We record a liability in Accrued liabilities for the fair value of guarantees that are issued or modified after December 31, 2002. For a residual value guarantee where we received a cash premium, the liability is equal to the cash premium received at the guarantee’s inception. For credit guarantees, the liability is equal to the present value of the expected loss. We determine the expected loss by multiplying the creditor’s default rate by the guarantee amount reduced by the expected recovery, if applicable, for each future period the credit guarantee will be outstanding. If at inception of a guarantee, we determine there is a probable related contingent loss, we will recognize a liability for the greater of (a) the fair value of the guarantee as described above or (b) the probable contingent loss amount. |
Earnings Per Share (Policy)
Earnings Per Share (Policy) | 12 Months Ended |
Dec. 31, 2016 | |
Earnings Per Share [Abstract] | |
Earnings Per Share, Policy | Basic and diluted earnings per share are computed using the two-class method, which is an earnings allocation method that determines earnings per share for common shares and participating securities. The undistributed earnings are allocated between common shares and participating securities as if all earnings had been distributed during the period. Participating securities and common shares have equal rights to undistributed earnings. Basic earnings per share is calculated by taking net earnings, less earnings available to participating securities, divided by the basic weighted average common shares outstanding. Diluted earnings per share is calculated by taking net earnings, less earnings available to participating securities, divided by the diluted weighted average common shares outstanding. |
Liabilities, Commitments And 35
Liabilities, Commitments And Contingencies Environmental Remediation (Policies) | 12 Months Ended |
Dec. 31, 2016 | |
Commitments and Contingencies Disclosure [Abstract] | |
Environmental Remediation | Environmental Remediation We are subject to federal and state requirements for protection of the environment, including those for discharge of hazardous materials and remediation of contaminated sites. We routinely assess, based on in-depth studies, expert analyses and legal reviews, our contingencies, obligations, and commitments for remediation of contaminated sites, including assessments of ranges and probabilities of recoveries from other responsible parties and/or insurance carriers. Our policy is to accrue and charge to current expense identified exposures related to environmental remediation sites when it is probable that a liability has been incurred and the amount can be reasonably estimated. The amount of the liability is based on our best estimate or the low end of a range of reasonably possible exposure for investigation, cleanup, and monitoring costs to be incurred. Estimated remediation costs are not discounted to present value as the timing of payments cannot be reasonably estimated. We may be able to recover a portion of the remediation costs from insurers or other third parties. Such recoveries are recorded when realization of the claim for recovery is deemed probable. The liabilities recorded represent our best estimate or the low end of a range of reasonably possible costs expected to be incurred to remediate sites, including operation and maintenance over periods of up to 30 years. It is reasonably possible that we may incur charges that exceed these recorded amounts because of regulatory agency orders and directives, changes in laws and/or regulations, higher than expected costs and/or the discovery of new or additional contamination. As part of our estimating process, we develop a range of reasonably possible alternate scenarios that includes the high end of a range of reasonably possible cost estimates for all remediation sites for which we have sufficient information based on our experience and existing laws and regulations. There are some potential remediation obligations where the costs of remediation cannot be reasonably estimated. At December 31, 2016 and 2015 , the high end of the estimated range of reasonably possible remediation costs exceeded our recorded liabilities by $857 and $853 . |
Summary of Business Segment D36
Summary of Business Segment Data (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Segment Reporting, Disclosure of Entity's Reportable Segments [Abstract] | |
Schedule Of Segment Reporting Information, By Segment | (Dollars in millions) Years ended December 31, 2016 2015 2014 Revenues: Commercial Airplanes $65,069 $66,048 $59,990 Defense, Space & Security: Boeing Military Aircraft 12,515 13,424 13,410 Network & Space Systems 7,046 7,751 8,003 Global Services & Support 9,937 9,213 9,468 Total Defense, Space & Security 29,498 30,388 30,881 Boeing Capital 298 413 416 Unallocated items, eliminations and other (294 ) (735 ) (525 ) Total revenues $94,571 $96,114 $90,762 Earnings from operations: Commercial Airplanes $3,130 $5,157 $6,411 Defense, Space & Security: Boeing Military Aircraft 1,231 1,311 1,294 Network & Space Systems 493 726 698 Global Services & Support 1,284 1,237 1,141 Total Defense, Space & Security 3,008 3,274 3,133 Boeing Capital 59 50 92 Segment operating profit 6,197 8,481 9,636 Unallocated items, eliminations and other (363 ) (1,038 ) (2,163 ) Earnings from operations 5,834 7,443 7,473 Other income/(loss), net 40 (13 ) (3 ) Interest and debt expense (306 ) (275 ) (333 ) Earnings before income taxes 5,568 7,155 7,137 Income tax expense (673 ) (1,979 ) (1,691 ) Net earnings $4,895 $5,176 $5,446 |
Goodwill And Acquired Intangi37
Goodwill And Acquired Intangibles (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Schedule Of Goodwill By Reportable Segment | Changes in the carrying amount of goodwill by reportable segment for the years ended December 31, 2016 and 2015 were as follows: Commercial Airplanes Boeing Military Aircraft Network & Space Systems Global Services & Support Total Balance at January 1, 2015 $2,131 $961 $1,566 $461 $5,119 Acquisitions 6 15 21 Goodwill adjustments (14 ) (14 ) Balance at December 31, 2015 $2,123 $976 $1,566 $461 $5,126 Acquisitions (1) 206 206 Goodwill adjustments (8 ) (8 ) Balance at December 31, 2016 (1) $2,115 $1,182 $1,566 $461 $5,324 |
Schedule Of Finite-Lived Intangible Assets | The gross carrying amounts and accumulated amortization of our acquired finite-lived intangible assets were as follows at December 31: 2016 2015 Gross Carrying Amount Accumulated Amortization Gross Carrying Amount Accumulated Amortization Distribution rights $2,281 $797 $2,245 $673 Product know-how 503 271 503 244 Customer base 595 436 600 403 Developed technology 523 376 455 357 Other 194 166 198 157 Total $4,096 $2,046 $4,001 $1,834 |
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense | Estimated amortization expense for the five succeeding years is as follows: 2017 2018 2019 2020 2021 Estimated amortization expense $221 $210 $185 $157 $147 |
Earnings Per Share (Tables)
Earnings Per Share (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Earnings Per Share [Abstract] | |
Schedule of Weighted Average Number of Shares | The elements used in the computation of basic and diluted earnings per share were as follows: (In millions - except per share amounts) Years ended December 31, 2016 2015 2014 Net earnings $4,895 $5,176 $5,446 Less: earnings available to participating securities 3 4 6 Net earnings available to common shareholders $4,892 $5,172 $5,440 Basic Basic weighted average shares outstanding 636.5 688.0 728.9 Less: participating securities 1.0 1.1 1.3 Basic weighted average common shares outstanding 635.5 686.9 727.6 Diluted Basic weighted average shares outstanding 636.5 688.0 728.9 Dilutive potential common shares (1) 7.3 8.1 9.1 Diluted weighted average shares outstanding 643.8 696.1 738.0 Less: participating securities 1.0 1.1 1.3 Diluted weighted average common shares outstanding 642.8 695.0 736.7 Net earnings per share: Basic $7.70 $7.52 $7.47 Diluted 7.61 7.44 7.38 (1) Diluted earnings per share includes any dilutive impact of stock options, restricted stock units, performance-based restricted stock units and performance awards. |
Schedule Of Weighted Average Number Of Shares Outstanding Excluded From The Computation Of Diluted Earnings Per Share | The following table includes the number of shares that may be dilutive potential common shares in the future. These shares were not included in the computation of diluted earnings per share because the effect was either antidilutive or the performance condition was not met. (Shares in millions) Years ended December 31, 2016 2015 2014 Performance awards 6.5 5.6 5.1 Performance-based restricted stock units 2.5 2.3 1.3 |
Income Taxes (Tables)
Income Taxes (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Income Tax Disclosure [Abstract] | |
Components Of Earnings Before Income Taxes Between Domestic and Foreign Jurisdictions | The components of earnings before income taxes were: Years ended December 31, 2016 2015 2014 U.S. $5,175 $6,828 $6,829 Non-U.S. 393 327 308 Total $5,568 $7,155 $7,137 |
Schedule Of Income Tax Expense/(Benefit) | Income tax expense/(benefit) consisted of the following: Years ended December 31, 2016 2015 2014 Current tax expense U.S. federal $1,193 $2,102 $676 Non-U.S. 133 122 91 U.S. state 15 21 69 Total current 1,341 2,245 836 Deferred tax expense U.S. federal (618 ) (297 ) 828 Non-U.S. (4 ) 4 34 U.S. state (46 ) 27 (7 ) Total deferred (668 ) (266 ) 855 Total income tax expense $673 $1,979 $1,691 |
Reconciliation Of U.S. Federal Statutory Tax Rate To Our Effective Income Tax Rate schedule | The following is a reconciliation of the U.S. federal statutory tax rate of 35% to our effective income tax rates: Years ended December 31, 2016 2015 2014 U.S. federal statutory tax 35.0 % 35.0 % 35.0 % Research and development credits (5.2 ) (3.4 ) (2.9 ) Tax basis adjustment (1) (7.9 ) (3.6 ) U.S. manufacturing activity tax benefit (3.8 ) (2.9 ) (1.2 ) Tax on international activities (0.5 ) (0.6 ) (0.2 ) Excess tax benefits (2) (1.9 ) Federal audit settlements (3) (3.2 ) (3.6 ) Other provision adjustments (0.4 ) (0.4 ) 0.2 Effective income tax rate 12.1 % 27.7 % 23.7 % (1) In the third quarter of 2016 and the second quarter of 2014, we recorded incremental tax benefits of $440 and $265 related to the application of a 2012 Federal Court of Claims decision which held that the tax basis in certain assets could be increased (tax basis adjustment). (2) Throughout 2016, we recorded tax benefits of $105 as a result of the adoption of ASU 2016-09 “Improvements to Employee Share-Based Payment Accounting” which required excess tax benefits related to employee share-based payments to be recorded through tax expense. (3) In the third quarter of 2016, a tax benefit of $177 was recorded as a result of the settlement of the 2011-2012 federal tax audit. In the second quarter of 2014, tax benefits of $116 and $143 were recorded as a result of the 2007-2008 and 2009-2010 federal tax audit settlements. |
Significant Components Of Deferred Tax Assets Net Of Deferred Tax Liabilities | Significant components of our deferred tax (liabilities)/assets at December 31 were as follows: 2016 2015 Inventory and long-term contract methods of income recognition (9,954 ) (10,401 ) Pension benefits 7,385 6,303 Retiree health care benefits 2,268 2,513 Fixed assets, intangibles and goodwill (net of valuation allowance $16 and $16) (2,007 ) (1,837 ) Other employee benefits 1,225 1,339 Customer and commercial financing (730 ) (777 ) Accrued expenses and reserves 587 609 Net operating loss, credit and capital loss carryovers (net of valuation allowance of $79 and $89) (1) 277 216 Other (57 ) (92 ) Net deferred tax (liabilities)/assets (2) ($1,006 ) ($2,127 ) (1) Of the deferred tax asset for net operating loss and credit carryovers, $262 expires on or before December 31, 2036 and $15 may be carried over indefinitely. (2) Included in the net deferred tax (liabilities)/assets as of December 31, 2016 and 2015 are deferred tax assets in the amounts of $7,701 and $7,277 related to Accumulated other comprehensive loss. |
Net Deferred Tax Assets and Liabilities | Net deferred tax (liabilities)/assets at December 31 were as follows: 2016 2015 Deferred tax assets $13,591 $13,128 Deferred tax liabilities (14,502 ) (15,150 ) Valuation allowance (95 ) (105 ) Net deferred tax (liabilities)/assets ($1,006 ) ($2,127 ) |
Schedule Of Unrecognized Tax Benefits Roll Forward | A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows: 2016 2015 2014 Unrecognized tax benefits – January 1 $1,617 $1,312 $1,141 Gross increases – tax positions in prior periods 17 38 403 Gross decreases – tax positions in prior periods (348 ) (25 ) (251 ) Gross increases – current-period tax positions 344 292 217 Settlements (73 ) (197 ) Lapse of statute of limitations (1 ) Unrecognized tax benefits – December 31 $1,557 $1,617 $1,312 |
Accounts Receivable (Tables)
Accounts Receivable (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Accounts Receivable, Net [Abstract] | |
Schedule Of Accounts Receivable | Accounts receivable at December 31 consisted of the following: 2016 2015 U.S. government contracts $4,639 $4,864 Commercial Airplanes 2,432 2,250 Defense, Space & Security customers (1) 733 889 Reinsurance receivables 526 550 Other 567 254 Less valuation allowance (65 ) (94 ) Total $8,832 $8,713 (1) Excludes U.S. government contracts |
Schedule Of Accounts Receivable Under Long-Term Contracts | The following table summarizes our accounts receivable under long-term contracts that were unbillable or related to outstanding claims as of December 31 : Unbillable Claims 2016 2015 2016 2015 Current $1,919 $2,024 $38 Expected to be collected after one year 2,011 2,001 $91 70 Total $3,930 $4,025 $129 $70 |
Inventories (Tables)
Inventories (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Inventory Disclosure [Abstract] | |
Schedule of Inventory, Current | Inventories at December 31 consisted of the following: 2016 2015 Long-term contracts in progress $12,801 $13,858 Commercial aircraft programs 52,048 55,230 Commercial spare parts, used aircraft, general stock materials and other 5,446 6,673 Inventory before advances and progress billings 70,295 75,761 Less advances and progress billings (27,096 ) (28,504 ) Total $43,199 $47,257 |
Customer Financing (Tables)
Customer Financing (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Customer Financing [Abstract] | |
Schedule Of Customer Financing | Customer financing primarily relates to the Boeing Capital (BCC) segment and consisted of the following at December 31: 2016 2015 Financing receivables: Investment in sales-type/finance leases $1,482 $1,620 Notes 807 256 Total financing receivables 2,289 1,876 Operating lease equipment, at cost, less accumulated depreciation of $359 and $338 1,922 1,710 Gross customer financing 4,211 3,586 Less allowance for losses on receivables (10 ) (16 ) Total $4,201 $3,570 |
Components Of Investment In Sales Type Or Finance Leases | The components of investment in sales-type/finance leases at December 31 were as follows: 2016 2015 Minimum lease payments receivable $1,321 $1,537 Estimated residual value of leased assets 505 530 Unearned income (344 ) (447 ) Total $1,482 $1,620 |
Financing Receivable Balances Evaluated For Impairment | Financing receivable balances evaluated for impairment at December 31 were as follows: 2016 2015 Individually evaluated for impairment $55 $86 Collectively evaluated for impairment 2,234 1,790 Total financing receivables $2,289 $1,876 |
Allowance for Losses on Financing Receivables | The change in the allowance for losses on financing receivables for the years ended December 31, 2016, 2015 and 2014 , consisted of the following: 2016 2015 2014 Beginning balance - January 1 ($16 ) ($21 ) ($49 ) Customer financing valuation benefit 6 5 28 Ending balance - December 31 ($10 ) ($16 ) ($21 ) Collectively evaluated for impairment ($10 ) ($16 ) ($21 ) |
Financing Receivable Credit Quality Indicators | Our financing receivable balances at December 31 by internal credit rating category are shown below: Rating categories 2016 2015 BBB $1,324 $973 BB 538 536 B 383 258 CCC 44 23 Other 86 Total carrying value of financing receivables $2,289 $1,876 |
Schedule Of Customer Financing Carrying Values Related To Major Aircraft Concentrations | The majority of customer financing carrying values are concentrated in the following aircraft models at December 31: 2016 2015 717 Aircraft ($301 and $372 accounted for as operating leases) $1,282 $1,415 747-8 Aircraft ($1,086 and $916 accounted for as operating leases) 1,111 916 MD-80 Aircraft (Accounted for as sales-type finance leases) 259 314 757 Aircraft ($43 and $48 accounted for as operating leases) 246 270 767 Aircraft ($85 and $84 accounted for as operating leases) 170 185 777 Aircraft (Accounted for as notes) 165 23 747-400 Aircraft (Accounted for as operating leases) 149 122 737 Aircraft (Accounted for as operating leases) 103 115 |
Customer Financing Asset Impairment Charges | Charges related to customer financing asset impairment for the years ended December 31 were as follows: 2016 2015 2014 Boeing Capital $45 $162 $139 Other Boeing 21 45 Total $66 $162 $184 |
Scheduled Receipts On Customer Financing | Scheduled receipts on customer financing are as follows: Year 2017 2018 2019 2020 2021 Beyond 2021 Principal payments on notes receivable $242 $105 $159 $125 $176 Sales-type/finance lease payments receivable 272 220 207 174 114 $334 Operating lease equipment payments receivable 463 162 147 129 110 587 |
Property, Plant And Equipment (
Property, Plant And Equipment (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Property, Plant and Equipment [Abstract] | |
Schedule Of Property, Plant And Equipment | Property, plant and equipment at December 31 consisted of the following: 2016 2015 Land $535 $536 Buildings and land improvements 13,796 12,397 Machinery and equipment 13,569 13,187 Construction in progress 1,790 2,242 Gross property, plant and equipment 29,690 28,362 Less accumulated depreciation (16,883 ) (16,286 ) Total $12,807 $12,076 |
Payments Due Under Operating And Capital Leases Net Of Sublease Amounts And Non-Cancellable Future Rentals | Payments due under operating and capital leases net of sublease amounts and non-cancellable future rentals during the next five years are as follows: 2017 2018 2019 2020 2021 Minimum operating lease payments, net of sublease amounts $233 $210 $182 $135 $95 Minimum capital lease payments 60 40 24 10 3 |
Investments (Tables)
Investments (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Investments [Abstract] | |
Schedule Of Investments | Our investments, which are recorded in Short-term and other investments or Investments, consisted of the following at December 31: 2016 2015 Equity method investments (1) $1,242 $1,230 Time deposits 665 456 Available-for-sale investments 537 244 Other investments 33 35 Restricted cash & cash equivalents (2) 68 69 Total $2,545 $2,034 (1) Dividends received were $314 and $239 during 2016 and 2015 . Retained earnings at December 31, 2016 include undistributed earnings from our equity method investments of $292 . (2) Reflects amounts restricted in support of our workers’ compensation programs and insurance premiums. |
Schedule of Equity Method Investments | Our equity method investments consisted of the following as of December 31: Segment Ownership Percentages Investment Balance 2016 2015 United Launch Alliance Network & Space Systems (N&SS) 50% $914 $908 Other Commercial Airplanes, N&SS and Global Services & Support (GS&S) 328 322 Total equity method investments $1,242 $1,230 |
Liabilities, Commitments And 45
Liabilities, Commitments And Contingencies (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Commitments and Contingencies Disclosure [Abstract] | |
Schedule of Accrued Liabilities | Accrued liabilities at December 31 consisted of the following: 2016 2015 Accrued compensation and employee benefit costs $5,720 $5,624 Environmental 562 566 Product warranties 1,414 1,485 Forward loss recognition 1,385 757 Dividends payable 866 721 Income Taxes Payable 89 262 Other 4,655 4,599 Total $14,691 $14,014 |
Schedule Of Environmental Remediation Activity | The following table summarizes environmental remediation activity during the years ended December 31, 2016 and 2015 . 2016 2015 Beginning balance – January 1 $566 $601 Reductions for payments made (47 ) (78 ) Changes in estimates 43 43 Ending balance – December 31 $562 $566 |
Schedule Of Product Warranty Activity | The following table summarizes product warranty activity recorded during the years ended December 31, 2016 and 2015 . 2016 2015 Beginning balance – January 1 $1,485 $1,504 Additions for current year deliveries 356 421 Reductions for payments made (309 ) (323 ) Changes in estimates (118 ) (117 ) Ending balance – December 31 $1,414 $1,485 |
Contractual Obligation, Fiscal Year Maturity Schedule | The estimated earliest potential funding dates for these commitments as of December 31, 2016 are as follows: Total 2017 $2,432 2018 3,500 2019 3,374 2020 2,022 2021 1,471 Thereafter 2,048 $14,847 |
Arrangements With Off-Balance46
Arrangements With Off-Balance Sheet Risk (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Guarantees [Abstract] | |
Schedule Of Guarantor Obligations | The following table provides quantitative data regarding our third party guarantees. The maximum potential payments represent a “worst-case scenario,” and do not necessarily reflect amounts that we expect to pay. Estimated proceeds from collateral and recourse represent the anticipated values of assets we could liquidate or receive from other parties to offset our payments under guarantees. The carrying amount of liabilities represents the amount included in Accrued liabilities. Maximum Potential Payments Estimated Proceeds from Collateral/ Recourse Carrying Amount of Liabilities December 31, 2016 2015 2016 2015 2016 2015 Contingent repurchase commitments $1,306 $1,529 $1,306 $1,510 $9 $7 Indemnifications to ULA: Contributed Delta program launch inventory 77 107 Contract pricing 261 261 7 7 Other Delta contracts 216 231 5 5 Credit guarantees 29 30 27 27 2 2 |
Debt (Tables)
Debt (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Debt Disclosure [Abstract] | |
Schedule Of Short-Term Debt And Current Portion Of Long-Term Debt | Short-term debt and current portion of long-term debt at December 31 consisted of the following: 2016 2015 Unsecured debt securities $255 $1,004 Non-recourse debt and notes 33 36 Capital lease obligations 57 53 Other notes 39 141 Total $384 $1,234 |
Schedule Of Debt | Debt at December 31 consisted of the following: 2016 2015 Unsecured debt securities Variable rate: 3-month USD LIBOR plus 12.5 basis points due 2017 $250 $250 0.95% - 4.88% due through 2046 5,250 5,075 5.88% - 6.88% due through 2043 2,383 2,381 7.25% - 8.75% due through 2043 1,641 1,645 Non-recourse debt and notes 6.98% - 7.38% notes due through 2021 127 163 Capital lease obligations due through 2024 138 150 Other notes 163 300 Total debt $9,952 $9,964 |
Schedule of Debt Instruments | Total debt is attributable to: 2016 2015 BCC $2,864 $2,355 Other Boeing 7,088 7,609 Total debt $9,952 $9,964 |
Scheduled Principal Payments For Debt And Capital Lease Obligations | Scheduled principal payments for debt and minimum capital lease obligations for the next five years are as follows: 2017 2018 2019 2020 2021 Scheduled principal payments $387 $714 $1,261 $1,134 $719 |
Postretirement Plans (Tables)
Postretirement Plans (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
General Discussion of Pension and Other Postretirement Benefits [Abstract] | |
Components Of Net Periodic Benefit Cost | The components of net periodic benefit cost were as follows: Pension Other Postretirement Benefits Years ended December 31, 2016 2015 2014 2016 2015 2014 Service cost $604 $1,764 $1,661 $128 $140 $129 Interest cost 3,050 2,990 3,058 262 248 289 Expected return on plan assets (3,999 ) (4,031 ) (4,169 ) (8 ) (8 ) (8 ) Amortization of prior service costs/(credits) 38 196 177 (126 ) (136 ) (144 ) Recognized net actuarial loss 790 1,577 1,020 22 31 8 Settlement/curtailment/other losses 40 290 461 10 1 Net periodic benefit cost $523 $2,786 $2,208 $278 $285 $275 Net periodic benefit cost included in Earnings from operations $1,979 $2,366 $3,215 $274 $288 $287 |
Schedule Of Changes In The Benefit Obligation, Plan Assets And Funded Status Of Pensions And OPB | The following tables show changes in the benefit obligation, plan assets and funded status of both pensions and OPB for the years ended December 31, 2016 and 2015 . Benefit obligation balances presented below reflect the PBO for our pension plans, and accumulated postretirement benefit obligations (APBO) for our OPB plans. Pension Other Postretirement Benefits 2016 2015 2016 2015 Change in benefit obligation Beginning balance $74,388 $78,391 $7,138 $7,306 Service cost 604 1,764 128 140 Interest cost 3,050 2,990 262 248 Plan participants’ contributions 1 5 Amendments 6 (1,379 ) (57 ) (19 ) Actuarial (gain)/loss 2,669 (3,505 ) (612 ) (89 ) Settlement/curtailment/other (63 ) (457 ) 10 Gross benefits paid (3,903 ) (3,382 ) (469 ) (486 ) Subsidies 37 43 Exchange rate adjustment (7 ) (39 ) 4 (15 ) Ending balance $76,745 $74,388 $6,431 $7,138 Change in plan assets Beginning balance at fair value $56,514 $61,119 $132 $141 Actual return/(loss) on plan assets 3,885 (701 ) 7 1 Company contribution 113 59 6 5 Plan participants’ contributions 1 5 7 5 Settlement payments (24 ) (649 ) Benefits paid (3,791 ) (3,284 ) (18 ) (20 ) Exchange rate adjustment (6 ) (35 ) Ending balance at fair value $56,692 $56,514 $134 $132 Amounts recognized in statement of financial position at December 31 consist of: Other assets $3 $10 Other accrued liabilities (113 ) (101 ) ($381 ) ($390 ) Accrued retiree health care (5,916 ) (6,616 ) Accrued pension plan liability, net (19,943 ) (17,783 ) Net amount recognized ($20,053 ) ($17,874 ) ($6,297 ) ($7,006 ) |
Schedule Of Amounts Recognized In Accumulated Other Comprehensive Loss | Amounts recognized in Accumulated other comprehensive loss at December 31 were as follows: Pension Other Postretirement Benefits 2016 2015 2016 2015 Net actuarial loss $22,802 $20,871 $152 $781 Prior service (credits) (1,243 ) (1,195 ) (328 ) (397 ) Total recognized in Accumulated other comprehensive loss $21,559 $19,676 ($176 ) $384 |
Schedule Of Estimated Amount That Will Be Amortized From Accumulated Other Comprehensive Loss Into Net Periodic Benefit Cost | The estimated amount that will be amortized from Accumulated other comprehensive loss into net periodic benefit cost during the year ending December 31, 2017 is as follows: Pension Other Postretirement Benefits Recognized net actuarial loss $801 $10 Amortization of prior service (credits) (41 ) (137 ) Total $760 ($127 ) |
Schedule Of Key Information For All Plans With ABO In Excess Of Plan Assets | Key information for our plans with ABO in excess of plan assets as of December 31 was as follows: 2016 2015 Projected benefit obligation $76,586 $74,188 Accumulated benefit obligation 74,081 72,121 Fair value of plan assets 56,530 56,306 |
Schedule Of Assumptions Used To Calculate The Benefit Obligation and Net Periodic Benefit Costs | The following assumptions, which are the weighted average for all plans, are used to calculate the benefit obligation at December 31 of each year and the net periodic benefit cost for the subsequent year. December 31, 2016 2015 2014 Discount rate: Pension 4.00 % 4.20 % 3.90 % Other postretirement benefits 3.70 % 3.80 % 3.50 % Expected return on plan assets 6.80 % 7.00 % 7.00 % Rate of compensation increase 4.40 % 4.00 % 3.80 % |
Schedule Of Assumed Health Care Cost Trend Rates | Assumed health care cost trend rates were as follows: December 31, 2016 2015 2014 Health care cost trend rate assumed next year 6.50 % 6.50 % 7.00 % Ultimate trend rate 5.00 % 5.00 % 5.00 % Year that trend reached ultimate rate 2021 2021 2018 |
Schedule Of One-Percentage-Point Change In Assumed Health Care Cost Trend Rates | A one-percentage-point change in assumed health care cost trend rates would have the following effect: Increase Decrease Effect on total of service and interest cost $48 ($40 ) Effect on postretirement benefit obligation 586 (496 ) |
Schedule of actual allocations for pension assets and target allocations by asset class [Table Text Block] | The actual and target allocations by asset class for the pension assets at December 31 were as follows: Actual Allocations Target Allocations Asset Class 2016 2015 2016 2015 Fixed income 48 % 48 % 47 % 47 % Global equity 28 28 29 29 Private equity 5 5 5 5 Real estate and real assets 9 9 9 9 Hedge funds 10 10 10 10 Total 100 % 100 % 100 % 100 % |
Schedule of Allocation of Plan Assets | The following table presents our plan assets using the fair value hierarchy as of December 31, 2016 and 2015 . The fair value hierarchy has three levels based on the reliability of the inputs used to determine fair value. Level 1 refers to fair values determined based on quoted prices in active markets for identical assets. Level 2 refers to fair values estimated using significant other observable inputs, and Level 3 includes fair values estimated using significant unobservable inputs. December 31, 2016 December 31, 2015 Total Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Fixed income securities: Corporate $16,730 $16,723 $7 $16,339 $16,336 $3 U.S. government and agencies 4,876 4,875 1 4,801 4,800 1 Mortgage backed and asset backed 706 370 336 830 382 448 Municipal 1,398 1,398 1,475 1,475 Sovereign 782 782 907 907 Other 74 $9 65 83 $9 74 Derivatives: Assets 40 40 25 25 Liabilities (38 ) (38 ) (67 ) (67 ) Cash equivalents and other short-term investments 1,037 1,037 1,015 1,015 Equity securities: U.S. common and preferred stock 5,374 5,373 1 5,165 5,164 1 Non-U.S. common and preferred stock 5,746 5,746 5,712 5,710 2 Derivatives: Assets 6 6 11 11 Liabilities (8 ) (8 ) (3 ) (3 ) Private equity — 3 3 Real estate and real assets: Real estate 468 468 447 447 Real assets 672 372 295 5 632 351 275 6 Derivatives: Assets 4 4 3 3 Liabilities (1 ) (1 ) (2 ) (2 ) Total $37,866 $11,968 $25,548 $350 $37,376 $11,681 $25,231 $464 Fixed income common/collective/pooled funds $1,625 $1,753 Fixed income other 227 247 Equity common/collective pooled funds 4,962 4,948 Private equity 2,639 2,611 Real estate and real assets 3,625 3,637 Hedge funds 5,441 5,478 Total investments measured at NAV as a practical expedient $18,519 $18,674 Cash $160 $162 Receivables 374 435 Payables (227 ) (133 ) Total $56,692 $56,514 |
Schedule of Effect of Significant Unobservable Inputs, Changes in Plan Assets [Table Text Block] | January 1 Net Realized and Unrealized (Losses) Net Purchases, Issuances and Settlements Net Transfers Into Level 3 December 31 Fixed income securities: Corporate (2) $1 $1 $1 $3 U.S. government and agencies (2) 1 $1 Mortgage backed and asset backed (2) 611 ($9 ) (157 ) 3 448 Other (3 ) 3 — Equity securities: U.S. common and preferred stock 1 1 Non-U.S. common and preferred stock 1 (2 ) 3 2 Private equity 3 3 Real assets 4 2 6 Total $621 ($12 ) ($153 ) $8 $464 The following tables present a reconciliation of Level 3 assets (excluding investments which are valued using NAVs as a practical expedient) held during the years ended December 31, 2016 and 2015 . Transfers into and out of Level 3 are reported at the beginning-of-year values. January 1 Net Realized and Unrealized Gains/(Losses) Net Purchases, Issuances and Settlements Net Transfers (Out of) Level 3 December 31 Fixed income securities: Corporate (1) $11 ($1 ) ($3 ) $7 U.S. government and agencies 1 1 Mortgage backed and asset backed (1) 440 $7 (93 ) (18 ) 336 Equity securities: U.S. common and preferred stock 1 1 Non-U.S. common and preferred stock 2 (2 ) — Private equity 3 (3 ) — Real assets 6 (1 ) 5 Total $464 $4 ($97 ) ($21 ) $350 |
Schedule Of Estimated Future Benefit Payments | The table below reflects the total pension benefits expected to be paid from the plans or from our assets, including both our share of the benefit cost and the participants’ share of the cost, which is funded by participant contributions. OPB payments reflect our portion only. Year(s) 2017 2018 2019 2020 2021 2022-2026 Pensions $4,558 $4,622 $4,611 $4,662 $4,637 $23,108 Other postretirement benefits: Gross benefits paid 498 515 530 548 553 2,654 Subsidies (32 ) (31 ) (31 ) (31 ) (30 ) (143 ) Net other postretirement benefits $466 $484 $499 $517 $523 $2,511 |
Share-Based Compensation And 49
Share-Based Compensation And Other Compensation Arrangements (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |
Schedule of share-based plans expense and related income tax benefit | The share-based plans expense and related income tax benefit were as follows: Years ended December 31, 2016 2015 2014 Stock options $4 $30 $62 Restricted stock units and other awards 189 160 133 Share-based plans expense $193 $190 $195 Income tax benefit $69 $68 $70 |
Schedule of Stock Options Activity | Stock option activity for the year ended December 31, 2016 is as follows: Shares Weighted Average Exercise Price Per Share Weighted Average Remaining Contractual Life (Years) Aggregate Intrinsic Value Number of shares under option: Outstanding at beginning of year 12,925,944 $73.44 Exercised (4,270,336) 75.04 Forfeited (6,270) 84.20 Expired (2,726) 74.43 Outstanding at end of year 8,646,612 $72.64 4.67 $718 Exercisable at end of year 8,640,391 $72.60 4.67 $718 |
Schedule of Restricted Stock Units Award Activity | RSU activity for the year ended December 31, 2016 was as follows: Long-Term Incentive Program Other Number of units: Outstanding at beginning of year 2,346,640 1,121,001 Granted 811,317 391,961 Dividends 66,609 35,848 Forfeited (165,111 ) (46,115 ) Distributed (1,244,811 ) (424,775 ) Outstanding at end of year 1,814,644 1,077,920 Unrecognized compensation cost $92 $58 Weighted average remaining contractual life (years) 1.8 3.8 |
Schedule of Performance Based Restricted Stock Units Award Grant Fair Values | The grant date fair values were estimated using a Monte-Carlo simulation model with the assumptions presented below. The model includes no expected dividend yield as the units earn dividend equivalents. Grant Year Grant Date Performance Period Expected Volatility Risk Free Interest Rate Grant Date Fair Value 2016 2/22/2016 3 years 22.44 % 0.92 % 126.74 2015 2/23/2015 3 years 20.35 % 1.03 % 164.26 2014 2/24/2014 3 years 24.2 % 0.72 % 136.12 |
Schedule of Performance Based Restricted Stock Units Award Activity | PBRSU activity for the year ended December 31, 2016 was as follows: Long-Term Incentive Program Number of units: Outstanding at beginning of year 1,123,035 Granted 721,176 Dividends 52,540 Forfeited (150,240 ) Outstanding at end of year 1,746,511 Unrecognized compensation cost $86 Weighted average remaining contractual life (years) 1.8 |
Shareholders' Equity (Tables)
Shareholders' Equity (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Stockholders' Equity Note [Abstract] | |
Schedule Of Common Stock Outstanding Roll Forward | The following table shows changes in each class of shares: Common Stock Treasury Stock Balance at January 1, 2014 1,012,261,159 264,882,461 Issued (6,719,270 ) Acquired 47,370,415 Balance at December 31, 2014 1,012,261,159 305,533,606 Issued (7,288,113 ) Acquired 47,391,861 Balance at December 31, 2015 1,012,261,159 345,637,354 Issued (6,376,868 ) Acquired 55,849,082 Balance at December 31, 2016 1,012,261,159 395,109,568 |
Schedule of Accumulated Other Comprehensive Income (Loss) | Changes in Accumulated other comprehensive income/(loss) (AOCI) by component for the years ended December 31, 2016 , 2015 and 2014 were as follows: Currency Translation Adjustments Unrealized Gains and Losses on Certain Investments Unrealized Gains and Losses on Derivative Instruments Defined Benefit Pension Plans & Other Postretirement Benefits Total (1) Balance at January 1, 2014 $150 ($8 ) ($6 ) ($10,030 ) ($9,894 ) Other comprehensive income/(loss) before reclassifications (97 ) (137 ) (4,644 ) (4,878 ) Amounts reclassified from AOCI 7 862 (2) 869 Net current period Other comprehensive income/(loss) (97 ) (130 ) (3,782 ) (4,009 ) Balance at December 31, 2014 $53 ($8 ) ($136 ) ($13,812 ) ($13,903 ) Other comprehensive income/(loss) before reclassifications (92 ) 8 (140 ) 173 (51 ) Amounts reclassified from AOCI 79 1,127 (2) 1,206 Net current period Other comprehensive income/(loss) (92 ) 8 (61 ) 1,300 1,155 Balance at December 31, 2015 ($39 ) $— ($197 ) ($12,512 ) ($12,748 ) Other comprehensive income/(loss) before reclassifications (104 ) ($2 ) (8 ) (1,320 ) (1,434 ) Amounts reclassified from AOCI 78 481 (2) 559 Net current period Other comprehensive income/(loss) (104 ) (2 ) 70 (839 ) (875 ) Balance at December 31, 2016 ($143 ) ($2 ) ($127 ) ($13,351 ) ($13,623 ) (1) Net of tax. (2) Primarily relates to amortization of actuarial losses for the years ended December 31, 2016 , 2015 , and 2014 totaling $524 , $1,038 , and $661 (net of tax of ($288) , ($570) , and ($367) ), respectively. These are included in the net periodic pension cost of which a portion is allocated to production as inventoried costs. See Note 14 . |
Derivative Financial Instrume51
Derivative Financial Instruments (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Summary of Derivative Instruments [Abstract] | |
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value [Table Text Block] | The notional amounts and fair values of derivative instruments in the Consolidated Statements of Financial Position as of December 31 were as follows: Notional amounts (1) Other assets Accrued liabilities 2016 2015 2016 2015 2016 2015 Derivatives designated as hedging instruments: Foreign exchange contracts $2,584 $2,727 $34 $23 ($225 ) ($304 ) Interest rate contracts 125 125 6 9 Commodity contracts 53 40 7 2 (5 ) (13 ) Derivatives not receiving hedge accounting treatment: Foreign exchange contracts 465 436 21 4 (17 ) (11 ) Commodity contracts 648 725 Total derivatives $3,875 $4,053 68 38 (247 ) (328 ) Netting arrangements (45 ) (23 ) 45 23 Net recorded balance $23 $15 ($202 ) ($305 ) (1) Notional amounts represent the gross contract/notional amount of the derivatives outstanding. |
Schedule Of Derivative Instruments, Gains/(Losses) In Statement Of Financial Performance | Gains/(losses) associated with our cash flow and undesignated hedging transactions and their effect on Other comprehensive income/(loss) and Net earnings were as follows: Years ended December 31, 2016 2015 Effective portion recognized in Other comprehensive income/(loss), net of taxes: Foreign exchange contracts ($9 ) ($136 ) Commodity contracts 1 (4 ) Effective portion reclassified out of Accumulated other comprehensive loss into earnings, net of taxes: Foreign exchange contracts (70 ) (67 ) Commodity contracts (8 ) (12 ) Forward points recognized in Other income, net: Foreign exchange contracts 13 12 Undesignated derivatives recognized in Other income, net: Foreign exchange contracts (2 ) (1 ) |
Fair Value Measurements (Tables
Fair Value Measurements (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Fair Value Disclosures [Abstract] | |
Fair Value, Assets And Liabilities Measured On Recurring Basis | The fair value hierarchy has three levels based on the reliability of the inputs used to determine fair value. Level 1 refers to fair values determined based on quoted prices in active markets for identical assets. Level 2 refers to fair values estimated using significant other observable inputs and Level 3 includes fair values estimated using significant unobservable inputs. The following table presents our assets and liabilities that are measured at fair value on a recurring basis and are categorized using the fair value hierarchy. December 31, 2016 December 31, 2015 Total Level 1 Level 2 Total Level 1 Level 2 Assets Money market funds $2,858 $2,858 $4,504 $4,504 Available-for-sale investments: Commercial paper 162 162 87 87 Corporate notes 271 271 79 79 U.S. government agencies 63 63 83 83 Other 46 46 20 20 Derivatives 23 23 15 $15 Total assets $3,423 $2,904 $519 $4,788 $4,524 $264 Liabilities Derivatives ($202 ) ($202 ) ($305 ) ($305 ) Total liabilities ($202 ) ($202 ) ($305 ) ($305 ) |
Fair Value, Assets Measured On Nonrecurring Basis Using Unobservable Inputs | The following table presents the nonrecurring losses recognized for the years ended December 31 due to long-lived asset impairment, and the fair value and asset classification of the related assets as of the impairment date: 2016 2015 Fair Value Total Losses Fair Value Total Losses Operating lease equipment $84 ($52 ) $270 ($159 ) Property, plant and equipment 10 (9 ) 8 (6 ) Other assets and Acquired intangible assets 12 (10 ) Total $106 ($71 ) $278 ($165 ) |
Fair Value, Assets Measured On Nonrecurring Basis, Valuation Techniques | For Level 3 assets that were measured at fair value on a nonrecurring basis during the year ended December 31, 2016 , the following table presents the fair value of those assets as of the measurement date, valuation techniques and related unobservable inputs of those assets. Fair Value Valuation Technique(s) Unobservable Input Range Median or Average Operating lease equipment $84 Market approach Aircraft value publications $158 - $264 (1) Median $212 Aircraft condition adjustments ($128) - $0 (2) Net ($128) (1) The range represents the sum of the highest and lowest values for all aircraft subject to fair value measurement, according to the third party aircraft valuation publications that we use in our valuation process. (2) The negative amount represents the sum, for all aircraft subject to fair value measurement, of all downward adjustments based on consideration of individual aircraft attributes and condition. The positive amount represents the sum of all such upward adjustments. |
Fair Values And Related Carrying Values Of Financial Instruments | The fair values and related carrying values of financial instruments that are not required to be remeasured at fair value on the Consolidated Statements of Financial Position at December 31 were as follows: December 31, 2016 Carrying Amount Total Fair Value Level 1 Level 2 Level 3 Assets Accounts receivable, net $8,832 $8,830 $8,830 Notes receivable, net 807 803 803 Liabilities Debt, excluding capital lease obligations (9,815 ) (11,209 ) (11,078 ) ($131 ) December 31, 2015 Carrying Amount Total Fair Value Level 1 Level 2 Level 3 Assets Accounts receivable, net $8,713 $8,705 $8,705 Notes receivable, net 255 273 273 Liabilities Debt, excluding capital lease obligations (9,814 ) (11,292 ) (11,123 ) ($169 ) |
Segment Information (Tables)
Segment Information (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Segment Reporting [Abstract] | |
Schedule of Revenue from External Customers Attributed to Foreign Countries by Geographic Area | Revenues, including foreign military sales, are reported by customer location and consisted of the following: Years ended December 31, 2016 2015 2014 Asia, other than China $10,553 $13,433 $11,900 Europe 13,790 12,248 11,898 China 10,312 12,556 11,029 Middle East 13,297 10,846 9,243 Oceania 1,843 2,601 1,757 Canada 2,076 1,870 1,901 Africa 1,999 1,398 2,596 Latin America, Caribbean and other 1,936 1,875 2,596 Total non-U.S. revenues 55,806 56,827 52,920 United States 38,765 39,287 37,842 Total revenues $94,571 $96,114 $90,762 |
Schedule Of Depreciation And Amortization Expense By Segment | Depreciation and Amortization Years ended December 31, 2016 2015 2014 Commercial Airplanes $682 $625 $674 Defense, Space & Security: Boeing Military Aircraft 113 142 164 Network & Space Systems 106 106 114 Global Services & Support 73 80 75 Total Defense, Space & Security 292 328 353 Boeing Capital Corporation 83 87 97 Unallocated items, eliminations and other 853 793 782 Total $1,910 $1,833 $1,906 |
Schedule Of Capital Expenditures By Segment | Capital Expenditures Years ended December 31, 2016 2015 2014 Commercial Airplanes $993 $889 $698 Defense, Space & Security: Boeing Military Aircraft 161 128 175 Network & Space Systems 63 98 93 Global Services & Support 112 62 68 Total Defense, Space & Security 336 288 336 Unallocated items, eliminations and other 1,284 1,273 1,202 Total $2,613 $2,450 $2,236 |
Schedule Of Intersegment Revenues, Eliminated in Unallocated Items and Eliminations | Intersegment revenues, eliminated in Unallocated items, eliminations and other, are shown in the following table. Years ended December 31, 2016 2015 2014 Commercial Airplanes $2,142 $1,831 $1,822 Boeing Capital 16 15 19 Total $2,158 $1,846 $1,841 |
Schedule Of Unallocated Items and Eliminations | Components of Unallocated items, eliminations and other are shown in the following table. Years ended December 31, 2016 2015 2014 Share-based plans ($66 ) ($76 ) ($67 ) Deferred compensation (46 ) (63 ) (44 ) Amortization of previously capitalized interest (94 ) (90 ) (72 ) Eliminations and other unallocated items (527 ) (511 ) (593 ) Sub-total (733 ) (740 ) (776 ) Pension 217 (421 ) (1,469 ) Postretirement 153 123 82 Pension and Postretirement 370 (298 ) (1,387 ) Total ($363 ) ($1,038 ) ($2,163 ) |
Reconciliation of Assets from Segment to Consolidated | Segment assets are summarized in the table below. December 31, 2016 2015 Commercial Airplanes $55,527 $57,253 Defense, Space & Security: Boeing Military Aircraft 6,698 6,793 Network & Space Systems 6,113 6,307 Global Services & Support 4,020 4,567 Total Defense, Space & Security 16,831 17,667 Boeing Capital 4,139 3,492 Unallocated items, eliminations and other 13,500 15,996 Total $89,997 $94,408 |
Quarterly Financial Data (Table
Quarterly Financial Data (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Quarterly Financial Information Disclosure [Abstract] | |
Schedule Of Quarterly Financial Data | 2016 2015 4th 3rd 2nd 1st 4th 3rd 2nd 1st Total revenues $23,286 $23,898 $24,755 $22,632 $23,573 $25,849 $24,543 $22,149 Total costs and expenses (19,464 ) (19,904 ) (22,325 ) (19,097 ) (20,642 ) (21,600 ) (21,350 ) (18,496 ) Earnings from operations 2,183 2,282 (419 ) 1,788 1,161 2,580 1,683 2,019 Net earnings/(loss) 1,631 2,279 (234 ) 1,219 1,026 1,704 1,110 1,336 Basic earnings per share 2.63 3.64 (0.37 ) 1.85 1.52 2.50 1.61 1.89 Diluted earnings per share 2.59 3.60 (0.37 ) 1.83 1.51 2.47 1.59 1.87 Cash dividends declared per share 2.51 2.18 2.00 1.82 Common stock sales price per share: High 160.07 139.45 137.89 141.70 150.59 149.18 155.50 158.83 Low 130.74 123.96 122.35 102.10 128.56 115.14 138.44 126.18 Quarter end 155.68 131.74 129.87 126.94 144.59 130.95 138.72 150.08 |
Summary Of Business Segment D55
Summary Of Business Segment Data (Details) - USD ($) $ in Millions | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2015 | Sep. 30, 2015 | Jun. 30, 2015 | Mar. 31, 2015 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Segment Reporting Information [Line Items] | |||||||||||
Total revenues | $ 23,286 | $ 23,898 | $ 24,755 | $ 22,632 | $ 23,573 | $ 25,849 | $ 24,543 | $ 22,149 | $ 94,571 | $ 96,114 | $ 90,762 |
Earnings from operations | 2,183 | 2,282 | (419) | 1,788 | 1,161 | 2,580 | 1,683 | 2,019 | 5,834 | 7,443 | 7,473 |
Other income/(loss), net | 40 | (13) | (3) | ||||||||
Interest and debt expense | (306) | (275) | (333) | ||||||||
Earnings before income taxes | 5,568 | 7,155 | 7,137 | ||||||||
Income tax expense | (673) | (1,979) | (1,691) | ||||||||
Net earnings | $ 1,631 | $ 2,279 | $ (234) | $ 1,219 | $ 1,026 | $ 1,704 | $ 1,110 | $ 1,336 | 4,895 | 5,176 | 5,446 |
Operating Segments [Member] | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Earnings from operations | 6,197 | 8,481 | 9,636 | ||||||||
Operating Segments [Member] | Commercial Airplanes [Member] | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Total revenues | 65,069 | 66,048 | 59,990 | ||||||||
Earnings from operations | 3,130 | 5,157 | 6,411 | ||||||||
Operating Segments [Member] | Defense, Space & Security [Member] | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Total revenues | 29,498 | 30,388 | 30,881 | ||||||||
Earnings from operations | 3,008 | 3,274 | 3,133 | ||||||||
Operating Segments [Member] | Defense, Space & Security [Member] | Boeing Military Aircraft [Member] | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Total revenues | 12,515 | 13,424 | 13,410 | ||||||||
Earnings from operations | 1,231 | 1,311 | 1,294 | ||||||||
Operating Segments [Member] | Defense, Space & Security [Member] | Network & Space Systems [Member] | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Total revenues | 7,046 | 7,751 | 8,003 | ||||||||
Earnings from operations | 493 | 726 | 698 | ||||||||
Operating Segments [Member] | Defense, Space & Security [Member] | Global Services & Support [Member] | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Total revenues | 9,937 | 9,213 | 9,468 | ||||||||
Earnings from operations | 1,284 | 1,237 | 1,141 | ||||||||
Operating Segments [Member] | Boeing Capital Corporation [Member] | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Total revenues | 298 | 413 | 416 | ||||||||
Earnings from operations | 59 | 50 | 92 | ||||||||
Unallocated items, eliminations and other [Member] | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Total revenues | (294) | (735) | (525) | ||||||||
Earnings from operations | $ (363) | $ (1,038) | $ (2,163) |
Summary Of Significant Accoun56
Summary Of Significant Accounting Policies (Details) - USD ($) $ / shares in Units, $ in Millions | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2015 | Sep. 30, 2015 | Jun. 30, 2015 | Mar. 31, 2015 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Summary Of Significant Accounting Policies [Line Items] | |||||||||||
Net earnings | $ 1,631 | $ 2,279 | $ (234) | $ 1,219 | $ 1,026 | $ 1,704 | $ 1,110 | $ 1,336 | $ 4,895 | $ 5,176 | $ 5,446 |
Duration of operating cycle | generally longer than one year | ||||||||||
Increase/(Decrease) in Earnings from operations due to change in accounting estimate. | $ (912) | $ (224) | $ 100 | ||||||||
Earnings Per Share impact, change in accounting estimate | $ (1.25) | $ (0.23) | $ 0.10 | ||||||||
Reinsurance costs | $ 139 | $ 132 | $ 144 | ||||||||
Reinsurance revenues | 147 | 136 | 135 | ||||||||
Research and development expense | 4,627 | 3,331 | $ 3,047 | ||||||||
Accounts Payable, Current | $ 11,190 | $ 10,800 | $ 11,190 | $ 10,800 | |||||||
Repurchase commitments, maturities | generally 10 to 15 years | ||||||||||
Diluted earnings per share | $ 2.59 | $ 3.60 | $ (0.37) | $ 1.83 | $ 1.51 | $ 2.47 | $ 1.59 | $ 1.87 | $ 7.61 | $ 7.44 | $ 7.38 |
Net Cash Provided by (Used in) Operating Activities | $ 10,499 | $ 9,363 | $ 8,858 | ||||||||
Net Cash Provided by (Used in) Financing Activities | $ (9,587) | (7,920) | (8,593) | ||||||||
Minimum [Member] | |||||||||||
Summary Of Significant Accounting Policies [Line Items] | |||||||||||
Equity Method Investment, Ownership Percentage | 20.00% | 20.00% | |||||||||
Maximum [Member] | |||||||||||
Summary Of Significant Accounting Policies [Line Items] | |||||||||||
Equity Method Investment, Ownership Percentage | 50.00% | 50.00% | |||||||||
Bank Overdrafts [Member] | |||||||||||
Summary Of Significant Accounting Policies [Line Items] | |||||||||||
Accounts Payable, Current | $ 77 | $ 163 | $ 77 | 163 | |||||||
Commercial Airplanes [Member] | Minimum [Member] | |||||||||||
Summary Of Significant Accounting Policies [Line Items] | |||||||||||
Standard warranty term | 3 years | ||||||||||
Commercial Airplanes [Member] | Maximum [Member] | |||||||||||
Summary Of Significant Accounting Policies [Line Items] | |||||||||||
Standard warranty term | 4 years | ||||||||||
Defense, Space & Security [Member] | Minimum [Member] | |||||||||||
Summary Of Significant Accounting Policies [Line Items] | |||||||||||
Standard warranty term | 6 months | ||||||||||
Defense, Space & Security [Member] | Maximum [Member] | |||||||||||
Summary Of Significant Accounting Policies [Line Items] | |||||||||||
Standard warranty term | 2 years | ||||||||||
Developed Technology [Member] | Minimum [Member] | |||||||||||
Summary Of Significant Accounting Policies [Line Items] | |||||||||||
Finite-lived acquired intangible assets, useful lives (in years) | 4 years | ||||||||||
Developed Technology [Member] | Maximum [Member] | |||||||||||
Summary Of Significant Accounting Policies [Line Items] | |||||||||||
Finite-lived acquired intangible assets, useful lives (in years) | 14 years | ||||||||||
Product Know-How [Member] | Minimum [Member] | |||||||||||
Summary Of Significant Accounting Policies [Line Items] | |||||||||||
Finite-lived acquired intangible assets, useful lives (in years) | 3 years | ||||||||||
Product Know-How [Member] | Maximum [Member] | |||||||||||
Summary Of Significant Accounting Policies [Line Items] | |||||||||||
Finite-lived acquired intangible assets, useful lives (in years) | 30 years | ||||||||||
Customer Base [Member] | Minimum [Member] | |||||||||||
Summary Of Significant Accounting Policies [Line Items] | |||||||||||
Finite-lived acquired intangible assets, useful lives (in years) | 3 years | ||||||||||
Customer Base [Member] | Maximum [Member] | |||||||||||
Summary Of Significant Accounting Policies [Line Items] | |||||||||||
Finite-lived acquired intangible assets, useful lives (in years) | 17 years | ||||||||||
Distribution Rights [Member] | Minimum [Member] | |||||||||||
Summary Of Significant Accounting Policies [Line Items] | |||||||||||
Finite-lived acquired intangible assets, useful lives (in years) | 3 years | ||||||||||
Distribution Rights [Member] | Maximum [Member] | |||||||||||
Summary Of Significant Accounting Policies [Line Items] | |||||||||||
Finite-lived acquired intangible assets, useful lives (in years) | 27 years | ||||||||||
Other Intangible Assets [Member] | Minimum [Member] | |||||||||||
Summary Of Significant Accounting Policies [Line Items] | |||||||||||
Finite-lived acquired intangible assets, useful lives (in years) | 2 years | ||||||||||
Other Intangible Assets [Member] | Maximum [Member] | |||||||||||
Summary Of Significant Accounting Policies [Line Items] | |||||||||||
Finite-lived acquired intangible assets, useful lives (in years) | 32 years | ||||||||||
Buildings And Land Improvements [Member] | Minimum [Member] | |||||||||||
Summary Of Significant Accounting Policies [Line Items] | |||||||||||
Property, plant and equipment, estimated useful lives (in years) | 10 years | ||||||||||
Buildings And Land Improvements [Member] | Maximum [Member] | |||||||||||
Summary Of Significant Accounting Policies [Line Items] | |||||||||||
Property, plant and equipment, estimated useful lives (in years) | 40 years | ||||||||||
Machinery And Equipment [Member] | Minimum [Member] | |||||||||||
Summary Of Significant Accounting Policies [Line Items] | |||||||||||
Property, plant and equipment, estimated useful lives (in years) | 4 years | ||||||||||
Machinery And Equipment [Member] | Maximum [Member] | |||||||||||
Summary Of Significant Accounting Policies [Line Items] | |||||||||||
Property, plant and equipment, estimated useful lives (in years) | 20 years | ||||||||||
Capitalized Internal Use Software [Member] | |||||||||||
Summary Of Significant Accounting Policies [Line Items] | |||||||||||
Property, plant and equipment, estimated useful lives (in years) | 5 years | ||||||||||
Bid And Proposal Costs [Member] | |||||||||||
Summary Of Significant Accounting Policies [Line Items] | |||||||||||
Research and development expense | $ 311 | 286 | 289 | ||||||||
KC-46A Tanker [Member] | |||||||||||
Summary Of Significant Accounting Policies [Line Items] | |||||||||||
Increase/(Decrease) in Earnings from operations due to change in accounting estimate. | $ (312) | $ (573) | $ (243) | $ (835) | (1,128) | $ (835) | $ (425) | ||||
Adjustments for New Accounting Pronouncement [Member] | |||||||||||
Summary Of Significant Accounting Policies [Line Items] | |||||||||||
Net earnings | $ 105 | ||||||||||
Diluted earnings per share | $ 0.16 | ||||||||||
Net Cash Provided by (Used in) Operating Activities | $ 105 | ||||||||||
Net Cash Provided by (Used in) Financing Activities | $ 105 |
Goodwill And Acquired Intangi57
Goodwill And Acquired Intangibles (Narrative) (Details) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2016 | Dec. 31, 2015 | |
Goodwill and Intangible Assets Disclosure [Abstract] | ||
Carrying amount of indefinite-lived intangible assets relating to trade names | $ 490 | $ 490 |
Amortization expense of acquired finite-lived intangible assets | 220 | 224 |
Finite-lived Intangible Assets Acquired | 113 | 15 |
Non-cash investing and financing transactions related to acquired finite-lived intangibles | $ 31 | $ 0 |
Goodwill And Acquired Intangi58
Goodwill And Acquired Intangibles (Schedule Of Goodwill By Reportable Segment) (Details) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2016 | Dec. 31, 2015 | |
Goodwill [Roll Forward] | ||
Goodwill, Beginning Balance | $ 5,126 | $ 5,119 |
Acquisitions | 206 | 21 |
Goodwill adjustments | (8) | (14) |
Goodwill, Ending Balance | 5,324 | 5,126 |
Operating Segments [Member] | Commercial Airplanes [Member] | ||
Goodwill [Roll Forward] | ||
Goodwill, Beginning Balance | 2,123 | 2,131 |
Acquisitions | 6 | |
Goodwill adjustments | (8) | (14) |
Goodwill, Ending Balance | 2,115 | 2,123 |
Operating Segments [Member] | Defense, Space & Security [Member] | Boeing Military Aircraft [Member] | ||
Goodwill [Roll Forward] | ||
Goodwill, Beginning Balance | 976 | 961 |
Acquisitions | 206 | 15 |
Goodwill adjustments | ||
Goodwill, Ending Balance | 1,182 | 976 |
Operating Segments [Member] | Defense, Space & Security [Member] | Network & Space Systems [Member] | ||
Goodwill [Roll Forward] | ||
Goodwill, Beginning Balance | 1,566 | 1,566 |
Acquisitions | ||
Goodwill adjustments | ||
Goodwill, Ending Balance | 1,566 | 1,566 |
Operating Segments [Member] | Defense, Space & Security [Member] | Global Services & Support [Member] | ||
Goodwill [Roll Forward] | ||
Goodwill, Beginning Balance | 461 | 461 |
Acquisitions | ||
Goodwill adjustments | ||
Goodwill, Ending Balance | $ 461 | $ 461 |
Goodwill And Acquired Intangi59
Goodwill And Acquired Intangibles (Schedule Of Finite-Lived Intangible Assets) (Details) - USD ($) $ in Millions | Dec. 31, 2016 | Dec. 31, 2015 |
Finite-Lived Intangible Assets [Line Items] | ||
Gross Carrying Amount | $ 4,096 | $ 4,001 |
Accumulated Amortization | 2,046 | 1,834 |
Distribution Rights [Member] | ||
Finite-Lived Intangible Assets [Line Items] | ||
Gross Carrying Amount | 2,281 | 2,245 |
Accumulated Amortization | 797 | 673 |
Product Know-How [Member] | ||
Finite-Lived Intangible Assets [Line Items] | ||
Gross Carrying Amount | 503 | 503 |
Accumulated Amortization | 271 | 244 |
Customer Base [Member] | ||
Finite-Lived Intangible Assets [Line Items] | ||
Gross Carrying Amount | 595 | 600 |
Accumulated Amortization | 436 | 403 |
Developed Technology [Member] | ||
Finite-Lived Intangible Assets [Line Items] | ||
Gross Carrying Amount | 523 | 455 |
Accumulated Amortization | 376 | 357 |
Other [Member] | ||
Finite-Lived Intangible Assets [Line Items] | ||
Gross Carrying Amount | 194 | 198 |
Accumulated Amortization | $ 166 | $ 157 |
Goodwill And Acquired Intangi60
Goodwill And Acquired Intangibles (Schedule of Finite-Lived Intangible Assets, Future Amortization Expense) (Details) $ in Millions | Dec. 31, 2016USD ($) |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Estimated amortization expense, next 12 months | $ 221 |
Estimated amortization expense, Year 2 | 210 |
Estimated amortization expense, Year 3 | 185 |
Estimated amortization expense, Year 4 | 157 |
Estimated amortization expense, Year 5 | $ 147 |
Earnings Per Share (Schedule Of
Earnings Per Share (Schedule Of Weighted-Average Number Of Shares Outstanding Used To Compute Earnings Per Share) (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2015 | Sep. 30, 2015 | Jun. 30, 2015 | Mar. 31, 2015 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Earnings Per Share [Abstract] | |||||||||||
Net earnings | $ 1,631 | $ 2,279 | $ (234) | $ 1,219 | $ 1,026 | $ 1,704 | $ 1,110 | $ 1,336 | $ 4,895 | $ 5,176 | $ 5,446 |
Undistributed Earnings (Loss) Allocated to Participating Securities, Basic | 3 | 4 | 6 | ||||||||
Net earnings available to common shareholders | $ 4,892 | $ 5,172 | $ 5,440 | ||||||||
Basic weighted average shares outstanding | 636.5 | 688 | 728.9 | ||||||||
Participating securities | 1 | 1.1 | 1.3 | ||||||||
Basic weighted average common shares outstanding | 635.5 | 686.9 | 727.6 | ||||||||
Basic weighted average shares outstanding | 636.5 | 688 | 728.9 | ||||||||
Dilutive potential common shares | 7.3 | 8.1 | 9.1 | ||||||||
Dilutive weighted average shares outstanding | 643.8 | 696.1 | 738 | ||||||||
Participating securities | 1 | 1.1 | 1.3 | ||||||||
Diluted weighted average common shares outstanding | 642.8 | 695 | 736.7 | ||||||||
Income (Loss) from Continuing Operations, Per Basic Share | $ 7.70 | $ 7.52 | $ 7.47 | ||||||||
Income (Loss) from Continuing Operations, Per Diluted Share | $ 7.61 | $ 7.44 | $ 7.38 |
Earnings Per Share (Schedule 62
Earnings Per Share (Schedule Of Weighted Average Number Of Shares Outstanding Excluded From The Computation Of Diluted Earnings Per Share) (Details) - shares shares in Millions | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Performance Awards [Member] | |||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | |||
Shares excluded from the computation of diluted earnings | 6.5 | 5.6 | 5.1 |
Performance Shares [Member] | |||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | |||
Shares excluded from the computation of diluted earnings | 2.5 | 2.3 | 1.3 |
Income Taxes (Narrative) (Detai
Income Taxes (Narrative) (Details) - USD ($) $ in Millions | 12 Months Ended | |||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Income Tax Disclosure [Abstract] | ||||
Net income tax payments/(refunds) | $ 1,460 | $ 1,490 | $ 355 | |
U.S. deferred income taxes and foreign withholding tax | 32 | |||
Undistributed Earnings of Foreign Subsidiaries | 850 | |||
Unrecognized tax benefits that would affect the effective tax rate, if recognized | 1,402 | 1,479 | 1,180 | |
Unrecognized tax benefits | $ 1,557 | $ 1,617 | $ 1,312 | $ 1,141 |
Income Taxes (Components of Ear
Income Taxes (Components of Earnings Before Income Taxes Between Domestic and Foreign Jurisdictions) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Income Tax Disclosure [Abstract] | |||
U.S. | $ 5,175 | $ 6,828 | $ 6,829 |
Non-U.S. | 393 | 327 | 308 |
Earnings before income taxes | $ 5,568 | $ 7,155 | $ 7,137 |
Income Taxes (Schedule Of Incom
Income Taxes (Schedule Of Income Tax Expense/(Benefit)) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Current Income Tax Expense (Benefit), Continuing Operations [Abstract] | |||
U.S. federal | $ 1,193 | $ 2,102 | $ 676 |
Non-U.S. | 133 | 122 | 91 |
U.S. state | 15 | 21 | 69 |
Total Current Income Tax Expense (Benefit) | 1,341 | 2,245 | 836 |
Deferred Income Tax Expense (Benefit), Continuing Operations [Abstract] | |||
U.S. federal | (618) | (297) | 828 |
Non-U.S. | (4) | 4 | 34 |
U.S. state | (46) | 27 | (7) |
Total deferred | (668) | (266) | 855 |
Income Tax Expense (Benefit), Continuing Operations [Abstract] | |||
Total income tax expense | $ 673 | $ 1,979 | $ 1,691 |
Income Taxes (Schedule Of Recon
Income Taxes (Schedule Of Reconciliation Of U.S. Federal Statutory Tax Rate To Our Effective Income Tax Rate) (Details) - USD ($) $ in Millions | 3 Months Ended | 12 Months Ended | |||||
Sep. 30, 2016 | Dec. 31, 2015 | Jun. 30, 2014 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | ||
Income Tax Examination [Line Items] | |||||||
U.S. federal statutory tax | 35.00% | 35.00% | 35.00% | ||||
Research and development credits | (5.20%) | (3.40%) | (2.90%) | ||||
Tax basis adjustment (1) | [1] | (7.90%) | (3.60%) | ||||
U.S. manufacturing activity tax benefit | (3.80%) | (2.90%) | (1.20%) | ||||
Tax on international activities | (0.50%) | (0.60%) | (0.20%) | ||||
Excess tax benefits (2) | [2] | (1.90%) | |||||
Federal audit settlements (3) | [3] | (3.20%) | (3.60%) | ||||
Other provision adjustments | (0.40%) | (0.40%) | 0.20% | ||||
Effective income tax rate | 12.10% | 27.70% | 23.70% | ||||
Tax benefits related to reinstatement of research tax credit | $ 235 | ||||||
Incremental tax benefit related to tax basis adjustment | $ 440 | $ 265 | |||||
Excess tax benefits related to employee share-based payments | $ 105 | ||||||
Tax Year 2011-2012 [Member] | |||||||
Income Tax Examination [Line Items] | |||||||
Tax benefit related to settlement of federal tax audit | $ 177 | ||||||
Tax Year 2007-2008 [Member] | |||||||
Income Tax Examination [Line Items] | |||||||
Tax benefit related to settlement of federal tax audit | 116 | ||||||
Tax Year 2009-2010 [Member] | |||||||
Income Tax Examination [Line Items] | |||||||
Tax benefit related to settlement of federal tax audit | $ 143 | ||||||
[1] | In the third quarter of 2016 and the second quarter of 2014, we recorded incremental tax benefits of $440 and $265 related to the application of a 2012 Federal Court of Claims decision which held that the tax basis in certain assets could be increased (tax basis adjustment). | ||||||
[2] | Throughout 2016, we recorded tax benefits of $105 as a result of the adoption of ASU 2016-09 “Improvements to Employee Share-Based Payment Accounting” which required excess tax benefits related to employee share-based payments to be recorded through tax expense. | ||||||
[3] | In the third quarter of 2016, a tax benefit of $177 was recorded as a result of the settlement of the 2011-2012 federal tax audit. In the second quarter of 2014, tax benefits of $116 and $143 were recorded as a result of the 2007-2008 and 2009-2010 federal tax audit settlements. |
Income Taxes (Significant Compo
Income Taxes (Significant Components Of Deferred Tax Assets Net Of Deferred Tax Liabilities) (Details) - USD ($) $ in Millions | Dec. 31, 2016 | Dec. 31, 2015 | |
Valuation Allowance [Line Items] | |||
Inventory and long-term contract methods of income recognition | $ (9,954) | $ (10,401) | |
Pension benefits | 7,385 | 6,303 | |
Retiree health care benefits | 2,268 | 2,513 | |
Fixed assets, intangibles and goodwill (net of valuation allowance $16 and $16) | (2,007) | (1,837) | |
Other employee benefits | 1,225 | 1,339 | |
Customer and commercial financing | (730) | (777) | |
Accrued expenses and reserves | 587 | 609 | |
Net operating loss, credit and capital loss carryovers (net of valuation allowance of $79 and $89)(1) | [1] | 277 | 216 |
Other | (57) | (92) | |
Net deferred tax (liabilities)/assets(2) | [2] | 1,006 | 2,127 |
Valuation Allowance - Fixed assets, intangibles, and goodwill deferred tax assets | 95 | 105 | |
Valuation Allowance - Net operating loss, credit and capital loss carryovers | 79 | 89 | |
Deferred tax asset for net operating loss and credit carryovers each year through December 31, 2035 | 262 | ||
Deferred tax asset for net operating loss and credit carryovers indefinitely | 15 | ||
Deferred tax assets related to Accumulated other comprehensive loss | 7,701 | 7,277 | |
Valuation Allowance, Property Plant and Equipment, Intangibles and Goodwill [Member] | |||
Valuation Allowance [Line Items] | |||
Valuation Allowance - Fixed assets, intangibles, and goodwill deferred tax assets | $ 16 | $ 16 | |
[1] | Of the deferred tax asset for net operating loss and credit carryovers, $262 expires on or before December 31, 2036 and $15 may be carried over indefinitely. | ||
[2] | Included in the net deferred tax (liabilities)/assets as of December 31, 2016 and 2015 are deferred tax assets in the amounts of $7,701 and $7,277 related to Accumulated other comprehensive loss. |
Income Taxes (Net Deferred Tax
Income Taxes (Net Deferred Tax Assets and Liabilities) (Details) - USD ($) $ in Millions | Dec. 31, 2016 | Dec. 31, 2015 | |
Components of Deferred Tax Assets and Liabilities [Abstract] | |||
Deferred tax assets | $ 13,591 | $ 13,128 | |
Deferred tax liabilities | (14,502) | (15,150) | |
Valuation allowance | (95) | (105) | |
Deferred Tax Liabilities, Net | [1] | $ 1,006 | $ 2,127 |
[1] | Included in the net deferred tax (liabilities)/assets as of December 31, 2016 and 2015 are deferred tax assets in the amounts of $7,701 and $7,277 related to Accumulated other comprehensive loss. |
Income Taxes (Schedule of Unrec
Income Taxes (Schedule of Unrecognized Tax Benefits Roll Forward) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward] | |||
Unrecognized tax benefits – January 1 | $ 1,617 | $ 1,312 | $ 1,141 |
Gross increases – tax positions in prior periods | 17 | 38 | 403 |
Gross decreases – tax positions in prior periods | (348) | (25) | (251) |
Gross increases – current-period tax positions | 344 | 292 | 217 |
Settlements | (73) | (197) | |
Lapse of statute of limitations | (1) | ||
Unrecognized tax benefits – December 31 | $ 1,557 | $ 1,617 | $ 1,312 |
Accounts Receivable (Narrative)
Accounts Receivable (Narrative) (Details) - USD ($) $ in Millions | Dec. 31, 2016 | Dec. 31, 2015 |
Accounts Receivable [Line Items] | ||
Unbillable, expected to be collected after one year | $ 2,011 | $ 2,001 |
Commercial Customers [Member] | ||
Accounts Receivable [Line Items] | ||
Unbillable, expected to be collected after one year | $ 172 | $ 178 |
Accounts Receivable (Schedule O
Accounts Receivable (Schedule Of Accounts Receivable) (Details) - USD ($) $ in Millions | Dec. 31, 2016 | Dec. 31, 2015 | |
Accounts Receivables [Line Items] | |||
Less valuation allowance, Current | $ (65) | $ (94) | |
Accounts receivable, Net, Current | 8,832 | 8,713 | |
U S Government Contracts [Member] | |||
Accounts Receivables [Line Items] | |||
Accounts Receivable, Gross, Current | 4,639 | 4,864 | |
Commercial Airplanes Accounts Receivable [Member] | |||
Accounts Receivables [Line Items] | |||
Accounts Receivable, Gross, Current | 2,432 | 2,250 | |
Defense, Space & Security Customers Excluding US Government Contracts [Member] | |||
Accounts Receivables [Line Items] | |||
Accounts Receivable, Gross, Current | [1] | 733 | 889 |
Reinsurance Receivables [Member] | |||
Accounts Receivables [Line Items] | |||
Accounts Receivable, Gross, Current | 526 | 550 | |
Other Account Receivable [Member] | |||
Accounts Receivables [Line Items] | |||
Accounts Receivable, Gross, Current | $ 567 | $ 254 | |
[1] | Excludes U.S. government contracts |
Accounts Receivable (Schedule72
Accounts Receivable (Schedule Of Accounts Receivable Under Long-Term Contracts) (Details) - USD ($) $ in Millions | Dec. 31, 2016 | Dec. 31, 2015 |
Unbilled Receivables, Not Billable, Fiscal Year Maturity [Abstract] | ||
Unbillable, current | $ 1,919 | $ 2,024 |
Unbillable, expected to be collected after one year | 2,011 | 2,001 |
Total Unbillable | 3,930 | 4,025 |
Contracts Receivable, Claims and Uncertain Amounts, Fiscal Year Maturity [Abstract] | ||
Claims, current | 38 | |
Claims, expected to be collected after one year | 91 | 70 |
Total Claims | $ 129 | $ 70 |
Inventories (Narrative) (Detail
Inventories (Narrative) (Details) - USD ($) $ in Millions | 3 Months Ended | ||
Jun. 30, 2016 | Dec. 31, 2016 | Dec. 31, 2015 | |
Inventories [Line Items] | |||
Progress Payments Netted Against Inventory for Long-term Contracts or Programs | $ 27,096 | $ 28,504 | |
Inventory Write-down | $ 1,235 | ||
Commercial spare parts, used aircraft, general stock materials and other | 5,446 | 6,673 | |
Airplane Program 787 [Member] | |||
Inventories [Line Items] | |||
Inventory, work in process | 32,501 | 34,656 | |
Deferred production costs | 27,308 | 28,510 | |
Supplier advances | 2,398 | 2,551 | |
Unamortized tooling and other non-recurring costs | 3,625 | 3,890 | |
Deferred production, unamortized tooling and other nonrecurring costs to be recovered from firm orders at the balance sheet date | 23,818 | ||
Deferred production, unamortized tooling and other nonrecurring costs to be recovered from future orders | 7,115 | ||
Airplane Program 747 [Member] | |||
Inventories [Line Items] | |||
Deferred production costs | 35 | 942 | |
Unamortized tooling and other non-recurring costs | 284 | 377 | |
Deferred production, unamortized tooling and other nonrecurring costs to be recovered from firm orders at the balance sheet date | 233 | ||
Deferred production, unamortized tooling and other nonrecurring costs to be recovered from future orders | 86 | ||
ULA [Member] | |||
Inventories [Line Items] | |||
Inventory subject to uncertainty | 120 | 120 | |
Progress Payments Netted Against Inventory for Long-term Contracts or Programs | 220 | 310 | |
Capitalized Precontract Costs [Member] | |||
Inventories [Line Items] | |||
Inventory subject to uncertainty | 729 | 732 | |
Deferred production costs [Member] | |||
Inventories [Line Items] | |||
Inventory Write-down | $ 1,011 | ||
Early Issue Sales Consideration [Member] | |||
Inventories [Line Items] | |||
Inventory subject to uncertainty | 3,117 | 3,166 | |
Used Aircraft [Member] | |||
Inventories [Line Items] | |||
Commercial spare parts, used aircraft, general stock materials and other | $ 150 | $ 267 |
Inventories (Inventory Disclosu
Inventories (Inventory Disclosure Table) (Details) - USD ($) $ in Millions | Dec. 31, 2016 | Dec. 31, 2015 |
Inventory Disclosure [Abstract] | ||
Long-term contracts in progress | $ 12,801 | $ 13,858 |
Commercial aircraft programs | 52,048 | 55,230 |
Commercial spare parts, used aircraft, general stock materials and other | 5,446 | 6,673 |
Inventory before advances and progress billings | 70,295 | 75,761 |
Less advances and progress billings | (27,096) | (28,504) |
Total | $ 43,199 | $ 47,257 |
Customer Financing (Narrative)
Customer Financing (Narrative) (Details) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2016 | Dec. 31, 2015 | |
Customer Financing [Line Items] | ||
Operating lease equipment | $ 1,922 | $ 1,710 |
Individually evaluated for impairment | 55 | 86 |
Impaired financing receivables | 44 | 0 |
Average recorded investment in impaired receivables | $ 41 | |
B Credit Rating [Member] | ||
Customer Financing [Line Items] | ||
Percentage Of Credit Default Rates Applied To Customers | 12.70% | |
BB Credit Rating [Member] | ||
Customer Financing [Line Items] | ||
Percentage Of Credit Default Rates Applied To Customers | 8.80% | |
BBB Credit Rating [Member] | ||
Customer Financing [Line Items] | ||
Percentage Of Credit Default Rates Applied To Customers | 1.10% | |
Operating lease equipment available for sale or re-lease [Member] | Boeing Capital Corporation [Member] | ||
Customer Financing [Line Items] | ||
Operating lease equipment | $ 6 | 49 |
Operating lease equipment available for sale or re-lease [Member] | Boeing Capital Corporation [Member] | Firm Lease Commitments [Member] | ||
Customer Financing [Line Items] | ||
Operating lease equipment | $ 0 | $ 15 |
Customer Financing (Schedule Of
Customer Financing (Schedule Of Customer Financing) (Details) - USD ($) $ in Millions | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 |
Customer Financing [Abstract] | ||||
Investment in sales-type/finance leases | $ 1,482 | $ 1,620 | ||
Notes | 807 | 256 | ||
Total financing receivables | 2,289 | 1,876 | ||
Operating lease equipment, at cost, less accumulated depreciation of $359 and $338 | 1,922 | 1,710 | ||
Gross customer financing | 4,211 | 3,586 | ||
Less allowance for losses on receivables | (10) | (16) | $ (21) | $ (49) |
Total | 4,201 | 3,570 | ||
Operating lease equipment, accumulated depreciation | $ 359 | $ 338 |
Customer Financing (Components
Customer Financing (Components Of Investment In Sales-Type Or Finance Leases) (Details) - USD ($) $ in Millions | Dec. 31, 2016 | Dec. 31, 2015 |
Customer Financing [Abstract] | ||
Minimum lease payments receivable | $ 1,321 | $ 1,537 |
Estimated residual value of leased assets | 505 | 530 |
Unearned income | (344) | (447) |
Total | $ 1,482 | $ 1,620 |
Customer Financing (Financing R
Customer Financing (Financing Receivable Balances Evaluated For Impairment) (Details) - USD ($) $ in Millions | Dec. 31, 2016 | Dec. 31, 2015 |
Customer Financing [Abstract] | ||
Individually evaluated for impairment | $ 55 | $ 86 |
Collectively evaluated for impairment | 2,234 | 1,790 |
Total financing receivables | $ 2,289 | $ 1,876 |
Customer Financing (Allowance F
Customer Financing (Allowance For Losses On Financing Receivables) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Financing Receivable, Allowance for Credit Losses [Roll Forward] | |||
Beginning balance - January 1 | $ (16) | $ (21) | $ (49) |
Write-offs | 6 | 5 | 28 |
Ending balance - December 31 | (10) | (16) | (21) |
Financing Receivable, Allowance for Credit Loss, Additional Information [Abstract] | |||
Collectively evaluated for impairment | $ (10) | $ (16) | $ (21) |
Customer Financing (Financing80
Customer Financing (Financing Receivable Credit Quality Indicators) (Details) - USD ($) $ in Millions | Dec. 31, 2016 | Dec. 31, 2015 |
Financing Receivable, Recorded Investment [Line Items] | ||
Total financing receivables | $ 2,289 | $ 1,876 |
BBB Credit Rating [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total financing receivables | 1,324 | 973 |
BB Credit Rating [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total financing receivables | 538 | 536 |
B Credit Rating [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total financing receivables | 383 | 258 |
CCC Credit Rating [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total financing receivables | 44 | 23 |
Other Credit Rating [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total financing receivables | $ 86 |
Customer Financing (Schedule 81
Customer Financing (Schedule of Customer Financing Carrying Values Related to Major Aircraft Concentrations) (Details) - USD ($) $ in Millions | Dec. 31, 2016 | Dec. 31, 2015 |
Customer Financing [Line Items] | ||
Gross customer financing | $ 4,211 | $ 3,586 |
Operating lease equipment | 1,922 | 1,710 |
B-717 Aircraft [Member] | ||
Customer Financing [Line Items] | ||
Gross customer financing | 1,282 | 1,415 |
Operating lease equipment | 301 | 372 |
B-747-8 [Member] | ||
Customer Financing [Line Items] | ||
Gross customer financing | 1,111 | 916 |
Operating lease equipment | 1,086 | 916 |
MD-80 Aircraft [Member] | ||
Customer Financing [Line Items] | ||
Gross customer financing | 259 | 314 |
B-757 Aircraft [Member] | ||
Customer Financing [Line Items] | ||
Gross customer financing | 246 | 270 |
Operating lease equipment | 43 | 48 |
B-767 Aircraft [Member] | ||
Customer Financing [Line Items] | ||
Gross customer financing | 170 | 185 |
Operating lease equipment | 85 | 84 |
B-777 [Member] | ||
Customer Financing [Line Items] | ||
Gross customer financing | 165 | 23 |
B-747-400 aircraft [Member] | ||
Customer Financing [Line Items] | ||
Gross customer financing | 149 | 122 |
Operating lease equipment | 149 | 122 |
B-737 Aircraft [Member] | ||
Customer Financing [Line Items] | ||
Gross customer financing | 103 | 115 |
Operating lease equipment | $ 103 | $ 115 |
Customer Financing (Customer Fi
Customer Financing (Customer Financing Asset Impairment Charges) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Customer Financing [Line Items] | |||
Impairment charges | $ 90 | $ 167 | $ 229 |
Customer Financing [Member] | |||
Customer Financing [Line Items] | |||
Impairment charges | 66 | 162 | 184 |
Customer Financing [Member] | Boeing Capital Corporation [Member] | |||
Customer Financing [Line Items] | |||
Impairment charges | 45 | 162 | 139 |
Customer Financing [Member] | Other Boeing [Member] | |||
Customer Financing [Line Items] | |||
Impairment charges | $ 21 | $ 45 |
Customer Financing (Scheduled R
Customer Financing (Scheduled Receipts On Customer Financing) (Details) - Customer Financing [Member] $ in Millions | Dec. 31, 2016USD ($) |
Principal payments on notes receivable [Abstract] | |
2,017 | $ 242 |
2,018 | 105 |
2,019 | 159 |
2,020 | 125 |
2,021 | 176 |
Beyond 2,021 | |
Sales-type/finance lease payments receivable [Abstract] | |
2,017 | 272 |
2,018 | 220 |
2,019 | 207 |
2,020 | 174 |
2,021 | 114 |
Beyond 2,021 | 334 |
Operating lease equipment payments receivable [Abstract] | |
2,017 | 463 |
2,018 | 162 |
2,019 | 147 |
2,020 | 129 |
2,021 | 110 |
Beyond 2,021 | $ 587 |
Property, Plant And Equipment84
Property, Plant And Equipment (Narrative) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Property, Plant and Equipment [Line Items] | |||
Depreciation expense | $ 1,910 | $ 1,833 | $ 1,906 |
Interest capitalized | 170 | 158 | 102 |
Rental expense for leased properties | 287 | 267 | 277 |
Minimum rental payments under capital leases, total | 144 | ||
Minimum rental payments under operating leases with initial or remaining terms of one year or more, total | 1,475 | ||
Sublease payments under operating lease | 19 | ||
Property, plant and equipment included in accounts payable | 292 | 502 | |
Property, Plant and Equipment [Member] | |||
Property, Plant and Equipment [Line Items] | |||
Depreciation expense | $ 1,418 | $ 1,357 | $ 1,414 |
Property, Plant And Equipment85
Property, Plant And Equipment (Schedule Of Property, Plant And Equipment) (Details) - USD ($) $ in Millions | Dec. 31, 2016 | Dec. 31, 2015 |
Property, Plant and Equipment [Abstract] | ||
Land | $ 535 | $ 536 |
Buildings and land improvements | 13,796 | 12,397 |
Machinery and equipment | 13,569 | 13,187 |
Construction in progress | 1,790 | 2,242 |
Gross property, plant and equipment | 29,690 | 28,362 |
Less accumulated depreciation | (16,883) | (16,286) |
Total | $ 12,807 | $ 12,076 |
Property, Plant And Equipment86
Property, Plant And Equipment (Payments Due Under Operating And Capital Leases Net Of Sublease Amounts And Non-Cancellable Future Rentals) (Details) $ in Millions | Dec. 31, 2016USD ($) |
Operating Leases, Future Minimum Payments Due, Fiscal Year Maturity [Abstract] | |
2,017 | $ 233 |
2,018 | 210 |
2,019 | 182 |
2,020 | 135 |
2,021 | 95 |
Capital Leases, Future Minimum Payments Due, Fiscal Year Maturity [Abstract] | |
2,017 | 60 |
2,018 | 40 |
2,019 | 24 |
2,020 | 10 |
2,021 | $ 3 |
Investments (Schedule Of Invest
Investments (Schedule Of Investments) (Details) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2016 | Dec. 31, 2015 | |
Investments Schedule [Abstract] | ||
Equity method investments | $ 1,242 | $ 1,230 |
Time deposits | 665 | 456 |
Available-for-sale investments | 537 | 244 |
Other investments | 33 | 35 |
Restricted Cash and Cash Equivalents | 68 | 69 |
Total | 2,545 | 2,034 |
Equity Method Investments and Joint Ventures [Abstract] | ||
Dividends received from equity method investments | 314 | $ 239 |
Undistributed earnings from equity method investments | $ 292 |
Investments (Schedule Of Owners
Investments (Schedule Of Ownership Percentages And Balances Of Equity Method Investments) (Details) - USD ($) $ in Millions | Dec. 31, 2016 | Dec. 31, 2015 |
Schedule of Equity Method Investments [Line Items] | ||
Equity method investments | $ 1,242 | $ 1,230 |
Defense, Space & Security [Member] | Network & Space Systems [Member] | United Launch Alliance [Member] | ||
Schedule of Equity Method Investments [Line Items] | ||
Equity Method Investment, Ownership Percentage | 50.00% | 50.00% |
Equity method investments | $ 914 | $ 908 |
Commercial Airplanes, Network & Space Systems, and Global Services & Support [Member] | Other [Member] | ||
Schedule of Equity Method Investments [Line Items] | ||
Equity method investments | $ 328 | $ 322 |
Other Assets (Details)
Other Assets (Details) - USD ($) $ in Millions | Dec. 31, 2016 | Dec. 31, 2015 |
Other Assets [Line Items] | ||
Net receivable balance recorded in Other assets | $ 1,416 | $ 1,408 |
Spirit Aerosystems [Member] | ||
Other Assets [Line Items] | ||
Loss Contingency, Receivable | 143 | 140 |
Sea Launch Receivables [Member] | ||
Other Assets [Line Items] | ||
Net receivable balance recorded in Other assets | 356 | $ 356 |
Sea Launch Receivables [Member] | S.P. Koroley Rocket And Space Corporation Energia [Member] | ||
Other Assets [Line Items] | ||
Net receivable balance recorded in Other assets | 223 | |
Sea Launch Receivables [Member] | PO Yuzhnoye Mashinostroitelny Zavod [Member] | ||
Other Assets [Line Items] | ||
Net receivable balance recorded in Other assets | 89 | |
Sea Launch Receivables [Member] | KB Yuzhnoye [Member] | ||
Other Assets [Line Items] | ||
Net receivable balance recorded in Other assets | 44 | |
Sea Launch Receivables [Member] | Bank Guarantees [Member] | ||
Other Assets [Line Items] | ||
Net receivable balance recorded in Other assets | 147 | |
Sea Launch Receivables [Member] | Partner Loans [Member] | ||
Other Assets [Line Items] | ||
Net receivable balance recorded in Other assets | 209 | |
Maximum [Member] | Sea Launch Receivables [Member] | Bank Guarantees [Member] | ||
Other Assets [Line Items] | ||
Loss Contingency, Estimate of Possible Loss | 147 | |
Maximum [Member] | Sea Launch Receivables [Member] | Partner Loans [Member] | ||
Other Assets [Line Items] | ||
Loss Contingency, Estimate of Possible Loss | $ 209 |
Liabilities, Commitments And 90
Liabilities, Commitments And Contingencies (Narrative) (Details) $ in Millions | 3 Months Ended | 6 Months Ended | 12 Months Ended | ||||||||
Dec. 31, 2016USD ($)aircraft | Sep. 30, 2016USD ($) | Jun. 30, 2016USD ($) | Mar. 31, 2016USD ($) | Jun. 30, 2015USD ($) | Dec. 31, 2015USD ($)aircraft | Dec. 31, 2016USD ($)aircraft | Dec. 31, 2015USD ($)aircraft | Dec. 31, 2014USD ($) | Aug. 31, 2016USD ($) | Dec. 31, 2011USD ($) | |
Liabilities Commitments And Contingencies [Line Items] | |||||||||||
Increase/(Decrease) in Earnings from operations due to change in accounting estimate. | $ (912) | $ (224) | $ 100 | ||||||||
Amount by which estimated range of reasonably possible remediation costs exceeded recorded liabilities | $ 857 | $ 853 | 857 | 853 | |||||||
Contingent liabilities on outstanding letters of credit agreements and surety bonds | 4,701 | 4,968 | 4,701 | 4,968 | |||||||
Cash surrender value of life insurance policies | 483 | 487 | 483 | 487 | |||||||
Total value of loans against underlying life insurance policies | 456 | 456 | 456 | 456 | |||||||
Commercial Aircraft Commitments [Member] | Total Contractual Trade In Value Maximum [Member] | |||||||||||
Liabilities Commitments And Contingencies [Line Items] | |||||||||||
Other Commitment | 1,485 | 1,585 | 1,485 | 1,585 | |||||||
Commercial Aircraft Commitments [Member] | Net amounts payable to customers related to probable contractual trade-in commitments [Member] | |||||||||||
Liabilities Commitments And Contingencies [Line Items] | |||||||||||
Other Commitment | 126 | 240 | 126 | 240 | |||||||
Commercial Aircraft Commitments [Member] | Probable Contractual Trade In Value [Member] | |||||||||||
Liabilities Commitments And Contingencies [Line Items] | |||||||||||
Other Commitment | 126 | 240 | 126 | 240 | |||||||
Financing Commitment [Member] | |||||||||||
Liabilities Commitments And Contingencies [Line Items] | |||||||||||
Other Commitment | 14,847 | $ 16,283 | 14,847 | 16,283 | |||||||
Financing Commitment [Member] | External Credit Rating, Non Investment Grade [Member] | |||||||||||
Liabilities Commitments And Contingencies [Line Items] | |||||||||||
Other Commitment | 14,847 | $ 14,847 | |||||||||
Minimum [Member] | |||||||||||
Liabilities Commitments And Contingencies [Line Items] | |||||||||||
Trade-In Commitment Expiration Date | 2,017 | ||||||||||
Maximum [Member] | |||||||||||
Liabilities Commitments And Contingencies [Line Items] | |||||||||||
Trade-In Commitment Expiration Date | 2,026 | ||||||||||
F/A-18 Program [Member] | Capitalized Precontract Costs [Member] | |||||||||||
Liabilities Commitments And Contingencies [Line Items] | |||||||||||
Loss Contingency, Estimate of Possible Loss | 57 | $ 57 | |||||||||
F/A-18 Program [Member] | Potential Termination Liabilities [Member] | |||||||||||
Liabilities Commitments And Contingencies [Line Items] | |||||||||||
Loss Contingency, Estimate of Possible Loss | 790 | 790 | |||||||||
KC-46A Tanker [Member] | |||||||||||
Liabilities Commitments And Contingencies [Line Items] | |||||||||||
Increase/(Decrease) in Earnings from operations due to change in accounting estimate. | (312) | $ (573) | $ (243) | $ (835) | (1,128) | $ (835) | $ (425) | ||||
KC-46A Tanker [Member] | Capitalized Precontract Costs [Member] | |||||||||||
Liabilities Commitments And Contingencies [Line Items] | |||||||||||
Loss Contingency, Estimate of Possible Loss | 311 | 311 | |||||||||
KC-46A Tanker [Member] | Potential Termination Liabilities [Member] | |||||||||||
Liabilities Commitments And Contingencies [Line Items] | |||||||||||
Loss Contingency, Estimate of Possible Loss | $ 1,016 | $ 1,016 | |||||||||
B747 aircraft [Member] | |||||||||||
Liabilities Commitments And Contingencies [Line Items] | |||||||||||
Program Accounting Quantity | aircraft | 1,555 | 1,574 | 1,555 | 1,574 | |||||||
Reach-forward loss on commercial aircraft | $ (1,188) | $ (70) | $ (885) | ||||||||
Undelivered Aircraft | aircraft | 26 | 26 | |||||||||
Commercial Crew [Member] | |||||||||||
Liabilities Commitments And Contingencies [Line Items] | |||||||||||
Increase/(Decrease) in Earnings from operations due to change in accounting estimate. | $ (162) | ||||||||||
Commercial Crew [Member] | Reach-Forward Loss [Member] | |||||||||||
Liabilities Commitments And Contingencies [Line Items] | |||||||||||
Increase/(Decrease) in Earnings from operations due to change in accounting estimate. | $ (38) | ||||||||||
Unfunded Priority List | F/A-18 Program [Member] | |||||||||||
Liabilities Commitments And Contingencies [Line Items] | |||||||||||
number of aircraft | aircraft | 12 | 12 | |||||||||
Kuwait [Member] | F/A-18 Program [Member] | |||||||||||
Liabilities Commitments And Contingencies [Line Items] | |||||||||||
number of aircraft | aircraft | 40 | 40 | |||||||||
EMD Contract [Member] | |||||||||||
Liabilities Commitments And Contingencies [Line Items] | |||||||||||
Contract Value | $ 4,900 | ||||||||||
Low Rate Initial Production [Member] | |||||||||||
Liabilities Commitments And Contingencies [Line Items] | |||||||||||
Contract Value | $ 2,800 | ||||||||||
Ula [Member] | |||||||||||
Liabilities Commitments And Contingencies [Line Items] | |||||||||||
Inventory Amount, Unpriced Change Orders for Long-term Contracts or Programs | $ 120 | $ 120 | $ 120 | $ 120 | |||||||
U.S. Navy [Member] | F/A-18 Program [Member] | |||||||||||
Liabilities Commitments And Contingencies [Line Items] | |||||||||||
Number Of Aircraft Included Within Backlog | aircraft | 23 | 23 |
Liabilities, Commitments And 91
Liabilities, Commitments And Contingencies (Schedule Of Accrued Liabilities) (Details) - USD ($) $ in Millions | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 |
Commitments and Contingencies Disclosure [Abstract] | |||
Accrued compensation and employee benefit costs | $ 5,720 | $ 5,624 | |
Environmental | 562 | 566 | $ 601 |
Product warranties | 1,414 | 1,485 | $ 1,504 |
Forward loss recognition | 1,385 | 757 | |
Dividends payable | 866 | 721 | |
Taxes Payable | 89 | 262 | |
Other | 4,655 | 4,599 | |
Total | $ 14,691 | $ 14,014 |
Liabilities, Commitments And 92
Liabilities, Commitments And Contingencies (Schedule Of Environmental Remediation Activity) (Details) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2016 | Dec. 31, 2015 | |
Accrual for Environmental Loss Contingencies [Roll Forward] | ||
Beginning balance - January 1 | $ 566 | $ 601 |
Reductions for payments made | (47) | (78) |
Changes in estimates | 43 | 43 |
Ending balance - December 31 | $ 562 | $ 566 |
Liabilities, Commitments And 93
Liabilities, Commitments And Contingencies (Schedule Of Product Warranty Activity) (Details) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2016 | Dec. 31, 2015 | |
Movement in Standard Product Warranty Accrual [Roll Forward] | ||
Beginning balance - January 1 | $ 1,485 | $ 1,504 |
Additions for current year deliveries | 356 | 421 |
Reductions for payments made | (309) | (323) |
Changes in estimates | (118) | (117) |
Ending balance - December 31 | $ 1,414 | $ 1,485 |
Liabilities, Commitments And 94
Liabilities, Commitments And Contingencies (Schedule Of Estimated Potential Funding Dates For Financing Commitments) (Details) - Financing Commitment [Member] - USD ($) $ in Millions | Dec. 31, 2016 | Dec. 31, 2015 |
Other Commitments, Fiscal Year Maturity [Line Items] | ||
2,016 | $ 2,432 | |
2,017 | 3,500 | |
2,018 | 3,374 | |
2,019 | 2,022 | |
2,020 | 1,471 | |
Thereafter | 2,048 | |
Total | 14,847 | $ 16,283 |
External Credit Rating, Non Investment Grade [Member] | ||
Other Commitments, Fiscal Year Maturity [Line Items] | ||
Total | $ 14,847 |
Arrangements With Off-Balance95
Arrangements With Off-Balance Sheet Risk (Narrative) (Details) $ in Millions | 1 Months Ended | 12 Months Ended | ||
Dec. 31, 2011USD ($) | Jun. 30, 2011USD ($) | Dec. 31, 2016USD ($)satellites | Dec. 31, 2015USD ($) | |
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items] | ||||
Number of satellite missions | satellites | 4 | |||
Potentially Unrecoverable Costs Under Contracts | $ 114 | $ 271 | ||
Offsetting capital lease obligation and IRB asset | $ 64 | $ 584 | ||
ULA [Member] | ||||
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items] | ||||
Delta launch program inventories included in contributed assets | 1,360 | |||
Delta launch program inventories subject to an inventory supply agreement | 1,860 | |||
Contributed inventories consumed by ULA | 1,283 | |||
Inventory Supply Agreement Payments Received | 1,740 | |||
Payments made under inventory supply agreement | 63 | |||
Inventory Supply Agreement Revenue and Costs of Sales Recorded | 1,472 | |||
Contributed Delta Program Launch Inventory [Member] | ULA [Member] | ||||
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items] | ||||
Maximum Potential Payments | $ 77 | 107 | ||
Indemnification Agreement [Member] | ||||
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items] | ||||
Number of satellite missions | satellites | 3 | |||
Other Delta Contracts [Member] | Deferred support costs [Member] | ||||
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items] | ||||
Maximum Potential Payments | $ 85 | |||
Other Delta Contracts [Member] | Deferred production costs [Member] | ||||
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items] | ||||
Maximum Potential Payments | 91 | |||
Other Delta Contracts [Member] | ULA [Member] | ||||
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items] | ||||
Maximum Potential Payments | 216 | 231 | ||
Carrying Amount of Liabilities | 5 | 5 | ||
Deferred Support and Production Costs [Member] | ||||
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items] | ||||
Loss Contingency, Estimate of Possible Loss | 317 | |||
Credit Guarantees [Member] | ||||
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items] | ||||
Maximum Potential Payments | 29 | 30 | ||
Carrying Amount of Liabilities | $ 2 | $ 2 | ||
Guarantor Obligations, Term | P4Y0M | |||
Maximum [Member] | Indemnification Agreement [Member] | ||||
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items] | ||||
Loss Contingency, Estimate of Possible Loss | $ 277 |
Arrangements With Off-Balance96
Arrangements With Off-Balance Sheet Risk (Schedule Of Arrangements With Off-Balance Sheet Risk) (Details) - USD ($) $ in Millions | Dec. 31, 2016 | Dec. 31, 2015 |
Contingent Repurchase Commitment [Member] | ||
Guarantor Obligations [Line Items] | ||
Maximum Potential Payments | $ 1,306 | $ 1,529 |
Estimated Proceeds from Collateral/ Recourse | 1,306 | 1,510 |
Carrying Amount of Liabilities | 9 | 7 |
Credit Guarantees [Member] | ||
Guarantor Obligations [Line Items] | ||
Maximum Potential Payments | 29 | 30 |
Estimated Proceeds from Collateral/ Recourse | 27 | 27 |
Carrying Amount of Liabilities | 2 | 2 |
ULA [Member] | Contributed Delta Program Launch Inventory [Member] | ||
Guarantor Obligations [Line Items] | ||
Maximum Potential Payments | 77 | 107 |
ULA [Member] | Contract Pricing [Member] | ||
Guarantor Obligations [Line Items] | ||
Maximum Potential Payments | 261 | 261 |
Carrying Amount of Liabilities | 7 | 7 |
ULA [Member] | Other Delta Contracts [Member] | ||
Guarantor Obligations [Line Items] | ||
Maximum Potential Payments | 216 | 231 |
Carrying Amount of Liabilities | $ 5 | $ 5 |
Debt (Narrative) (Details)
Debt (Narrative) (Details) - USD ($) $ in Millions | May 18, 2016 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 |
Debt Instrument [Line Items] | ||||
Debt Instrument, Issuance Date | May 18, 2016 | |||
Debt Instrument, Face Amount | $ 1,200 | |||
Proceeds from Debt, Net of Issuance Costs | 1,170 | |||
Interest Costs Incurred | $ 535 | $ 497 | $ 504 | |
Interest Paid | 523 | 488 | $ 511 | |
Total debt | 9,952 | $ 9,964 | ||
Customer Financing [Member] | ||||
Debt Instrument [Line Items] | ||||
Customer Financing Asset Used For Collateralizing Debt | 259 | |||
Secured Debt [Member] | ||||
Debt Instrument [Line Items] | ||||
Total debt | 127 | |||
Revolving Credit Facility [Member] | ||||
Debt Instrument [Line Items] | ||||
Available amount under credit facility | 5,000 | |||
Revolving Credit Facility [Member] | 364-day Revolving Credit Facility [Member] | ||||
Debt Instrument [Line Items] | ||||
Available amount under credit facility | $ 2,480 | |||
Maturity date of credit line agreements | Nov. 1, 2017 | |||
Revolving Credit Facility [Member] | Five Year Credit Facility [Member] | Five Year Expiration [Member] | ||||
Debt Instrument [Line Items] | ||||
Available amount under credit facility | $ 2,370 | |||
Maturity date of credit line agreements | Nov. 2, 2021 | |||
Revolving Credit Facility [Member] | Five Year Credit Facility [Member] | Four Year Expiration [Member] | ||||
Debt Instrument [Line Items] | ||||
Available amount under credit facility | $ 90 | |||
Maturity date of credit line agreements | Nov. 30, 2019 | |||
Revolving Credit Facility [Member] | Five Year Credit Facility [Member] | Next twelve months Expiration [Member] | ||||
Debt Instrument [Line Items] | ||||
Available amount under credit facility | $ 60 | |||
Maturity date of credit line agreements | Nov. 30, 2017 | |||
One Point Eight Seven Five Percent due on June 15, 2023 [Member] | ||||
Debt Instrument [Line Items] | ||||
Debt Instrument, Face Amount | $ 400 | |||
Debt maturity date | Jun. 15, 2023 | |||
Debt Instrument, Interest Rate, Stated Percentage | 1.875% | |||
Two Point Two Five Percent due on June 15, 2026 [Member] | ||||
Debt Instrument [Line Items] | ||||
Debt Instrument, Face Amount | $ 400 | |||
Debt maturity date | Jun. 15, 2026 | |||
Debt Instrument, Interest Rate, Stated Percentage | 2.25% |
Debt (Schedule Of Short-Term De
Debt (Schedule Of Short-Term Debt And Current Portion Of Long-Term Debt) (Details) - USD ($) $ in Millions | Dec. 31, 2016 | Dec. 31, 2015 |
Debt Disclosure [Abstract] | ||
Unsecured debt securities | $ 255 | $ 1,004 |
Non-recourse debt and notes | 33 | 36 |
Capital Lease Obligations | 57 | 53 |
Other notes | 39 | 141 |
Short-term debt and current portion of long-term debt | $ 384 | $ 1,234 |
Debt (Schedule Of Debt) (Detail
Debt (Schedule Of Debt) (Details) - USD ($) $ in Millions | May 18, 2016 | Dec. 31, 2016 | Dec. 31, 2015 |
Debt Instrument [Line Items] | |||
Debt Instrument, Face Amount | $ 1,200 | ||
Other notes | $ 163 | $ 300 | |
Total debt | 9,952 | 9,964 | |
Two Point Two Five Percent due on June 15, 2026 [Member] | |||
Debt Instrument [Line Items] | |||
Debt Instrument, Interest Rate, Stated Percentage | 2.25% | ||
Debt Instrument, Face Amount | $ 400 | ||
Debt Instrument, Maturity Date | Jun. 15, 2026 | ||
Three Point Three Seven Five Percent due June 15, 2046 [Member] | |||
Debt Instrument [Line Items] | |||
Debt Instrument, Interest Rate, Stated Percentage | 3.375% | ||
Debt Instrument, Face Amount | $ 400 | ||
Debt Instrument, Maturity Date | Jun. 15, 2046 | ||
3-month USD LIBOR plus 12.5 basis points due 2017 [Member] | |||
Debt Instrument [Line Items] | |||
Unsecured debt securities | 250 | 250 | |
0.95% - 4.88% due through 2046 [Member] | |||
Debt Instrument [Line Items] | |||
Unsecured debt securities | $ 5,250 | 5,075 | |
Debt Instrument, Maturity Date | Dec. 15, 2046 | ||
5.88% - 6.88% due through 2043 [Member] | |||
Debt Instrument [Line Items] | |||
Unsecured debt securities | $ 2,383 | 2,381 | |
Debt Instrument, Maturity Date | Dec. 31, 2043 | ||
7.25% – 8.75% due through 2043 [Member] | |||
Debt Instrument [Line Items] | |||
Unsecured debt securities | $ 1,641 | 1,645 | |
Debt Instrument, Maturity Date | Dec. 31, 2043 | ||
6.98% - 7.38% notes due through 2021 [Member] | |||
Debt Instrument [Line Items] | |||
Non-recourse debt and notes | $ 127 | 163 | |
Debt Instrument, Maturity Date | Dec. 31, 2021 | ||
Due Through Two Thousand Twenty-four [Member] | |||
Debt Instrument [Line Items] | |||
Capital lease obligations | $ 138 | $ 150 | |
Debt Instrument, Maturity Date | Dec. 31, 2024 | ||
Minimum [Member] | 0.95% - 4.88% due through 2046 [Member] | |||
Debt Instrument [Line Items] | |||
Debt Instrument, Interest Rate, Stated Percentage | 0.95% | ||
Minimum [Member] | 5.88% - 6.88% due through 2043 [Member] | |||
Debt Instrument [Line Items] | |||
Debt Instrument, Interest Rate, Stated Percentage | 5.88% | ||
Minimum [Member] | 7.25% – 8.75% due through 2043 [Member] | |||
Debt Instrument [Line Items] | |||
Debt Instrument, Interest Rate, Stated Percentage | 7.25% | ||
Minimum [Member] | 6.98% - 7.38% notes due through 2021 [Member] | |||
Debt Instrument [Line Items] | |||
Debt Instrument, Interest Rate, Stated Percentage | 6.98% | ||
Maximum [Member] | 0.95% - 4.88% due through 2046 [Member] | |||
Debt Instrument [Line Items] | |||
Debt Instrument, Interest Rate, Stated Percentage | 4.88% | ||
Maximum [Member] | 5.88% - 6.88% due through 2043 [Member] | |||
Debt Instrument [Line Items] | |||
Debt Instrument, Interest Rate, Stated Percentage | 6.88% | ||
Maximum [Member] | 7.25% – 8.75% due through 2043 [Member] | |||
Debt Instrument [Line Items] | |||
Debt Instrument, Interest Rate, Stated Percentage | 8.75% | ||
Maximum [Member] | 6.98% - 7.38% notes due through 2021 [Member] | |||
Debt Instrument [Line Items] | |||
Debt Instrument, Interest Rate, Stated Percentage | 7.38% |
Debt (Scheduled Principal Payme
Debt (Scheduled Principal Payments For Debt And Capital Lease Obligations) (Details) $ in Millions | Dec. 31, 2016USD ($) |
Debt Disclosure [Abstract] | |
2,016 | $ 387 |
2,017 | 714 |
2,018 | 1,261 |
2,019 | 1,134 |
2,020 | $ 719 |
Debt Debt (Schedule of Long-ter
Debt Debt (Schedule of Long-term debt instruments) (Details) - USD ($) $ in Millions | Dec. 31, 2016 | Dec. 31, 2015 |
Debt Instrument [Line Items] | ||
Total debt | $ 9,952 | $ 9,964 |
Boeing Capital Corporation [Member] | ||
Debt Instrument [Line Items] | ||
Total debt | 2,864 | 2,355 |
Other Boeing Debt [Member] | ||
Debt Instrument [Line Items] | ||
Total debt | $ 7,088 | $ 7,609 |
Postretirement Plans (Narrative
Postretirement Plans (Narrative) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Defined Benefit Plan Disclosure [Line Items] | |||
Amount by which fair value of plan assets exceeds market-related value of plan assets (MRVA) | $ 2,352 | ||
Derivative net notional amount for fixed income as percentage of total plan assets | 6.00% | 13.10% | |
Derivative net notional amount for global equity, currency overlay and commodities as a percentage of total plan assets | 1.20% | 4.00% | |
Expense for defined contribution plans | $ 1,413 | $ 768 | $ 764 |
Pension Plans [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Recognized Net Gain (Loss) Due to Settlements and Curtailments | (40) | (290) | (461) |
Accumulated benefit obligation (ABO) for all pension plans | $ 74,240 | $ 72,330 | |
Defined benefit plan, actual plan asset allocations | 100.00% | 100.00% | |
Defined Benefit Plans, Estimated Future Employer Contributions in Next Fiscal Year | $ 500 | ||
Pension Plans [Member] | Minimum [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plans, Estimated Future Employer Contributions in Next Fiscal Year | $ 200 | ||
Pension Plans [Member] | Fixed Income Securities [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined benefit plan, actual plan asset allocations | 48.00% | 48.00% | |
Pension Plans [Member] | Equity Securities [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined benefit plan, actual plan asset allocations | 28.00% | 28.00% | |
Pension Plans [Member] | Level 3 [Member] | Fixed Income Securities [Member] | Mortgage backed and asset backed | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Actual Return on Plan Assets Still Held | $ 4 | $ (10) | |
Other Postretirement Benefits Plans [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Recognized Net Gain (Loss) Due to Settlements and Curtailments | $ (10) | $ (1) | |
Other Postretirement Benefits Plans [Member] | Fixed Income Securities [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined benefit plan, actual plan asset allocations | 40.00% | ||
Other Postretirement Benefits Plans [Member] | Equity Securities [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined benefit plan, actual plan asset allocations | 60.00% |
Postretirement Plans (Component
Postretirement Plans (Components Of Net Periodic Benefit Cost) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Pension Plans [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Service cost | $ 604 | $ 1,764 | $ 1,661 |
Interest cost | 3,050 | 2,990 | 3,058 |
Expected return on plan assets | (3,999) | (4,031) | (4,169) |
Amortization of prior service costs/(credits) | 38 | 196 | 177 |
Recognized net actuarial loss | 790 | 1,577 | 1,020 |
Settlement/curtailment/other losses | 40 | 290 | 461 |
Net periodic benefit cost | 523 | 2,786 | 2,208 |
Net periodic benefit cost included in Earnings from operations | 1,979 | 2,366 | 3,215 |
Other Postretirement Benefits Plans [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Service cost | 128 | 140 | 129 |
Interest cost | 262 | 248 | 289 |
Expected return on plan assets | (8) | (8) | (8) |
Amortization of prior service costs/(credits) | (126) | (136) | (144) |
Recognized net actuarial loss | 22 | 31 | 8 |
Settlement/curtailment/other losses | 10 | 1 | |
Net periodic benefit cost | 278 | 285 | 275 |
Net periodic benefit cost included in Earnings from operations | $ 274 | $ 288 | $ 287 |
Postretirement Plans (Schedule
Postretirement Plans (Schedule Of Changes In The Benefit Obligation, Plan Assets And Funded Status Of Both Pensions And OPB) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Defined Benefit Plan, Amounts Recognized in Balance Sheet [Abstract] | |||
Accrued pension plan liability, net | $ (19,943) | $ (17,783) | |
Pension Plans [Member] | |||
Defined Benefit Plan, Change in Benefit Obligation [Roll Forward] | |||
Beginning balance | 74,388 | 78,391 | |
Service cost | 604 | 1,764 | $ 1,661 |
Interest cost | 3,050 | 2,990 | 3,058 |
Plan participants’ contributions | 1 | 5 | |
Amendments | 6 | (1,379) | |
Actuarial (gain)/loss | 2,669 | (3,505) | |
Settlement/curtailment/other | (63) | (457) | |
Gross benefits paid | (3,903) | (3,382) | |
Exchange rate adjustment | (7) | (39) | |
Ending balance | 76,745 | 74,388 | 78,391 |
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | |||
Beginning balance at fair value | 56,514 | 61,119 | |
Actual return/(loss) on plan assets | 3,885 | (701) | |
Company contribution | 113 | 59 | |
Plan participants’ contributions | 1 | 5 | |
Settlement payments | (24) | (649) | |
Benefits paid | (3,791) | (3,284) | |
Exchange rate adjustment | (6) | (35) | |
Ending balance at fair value | 56,692 | 56,514 | 61,119 |
Defined Benefit Plan, Amounts Recognized in Balance Sheet [Abstract] | |||
Other assets | 3 | 10 | |
Other accrued liabilities | (113) | (101) | |
Accrued pension plan liability, net | (19,943) | (17,783) | |
Net amount recognized | (20,053) | (17,874) | |
Other Postretirement Benefits Plans [Member] | |||
Defined Benefit Plan, Change in Benefit Obligation [Roll Forward] | |||
Beginning balance | 7,138 | 7,306 | |
Service cost | 128 | 140 | 129 |
Interest cost | 262 | 248 | 289 |
Plan participants’ contributions | 7 | 5 | |
Amendments | (57) | (19) | |
Actuarial (gain)/loss | (612) | (89) | |
Settlement/curtailment/other | 10 | ||
Gross benefits paid | (469) | (486) | |
Subsidies | 37 | 43 | |
Exchange rate adjustment | 4 | (15) | |
Ending balance | 6,431 | 7,138 | 7,306 |
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | |||
Beginning balance at fair value | 132 | 141 | |
Actual return/(loss) on plan assets | 7 | 1 | |
Company contribution | 6 | 5 | |
Plan participants’ contributions | 7 | 5 | |
Benefits paid | (18) | (20) | |
Ending balance at fair value | 134 | 132 | $ 141 |
Defined Benefit Plan, Amounts Recognized in Balance Sheet [Abstract] | |||
Other accrued liabilities | (381) | (390) | |
Accrued retiree health care | (5,916) | (6,616) | |
Net amount recognized | $ (6,297) | $ (7,006) |
Postretirement Plans (Schedu105
Postretirement Plans (Schedule Of Amounts Recognized In Accumulated Other Comprehensive Loss) (Details) - USD ($) $ in Millions | Dec. 31, 2016 | Dec. 31, 2015 |
Pension Plans [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Net actuarial loss | $ 22,802 | $ 20,871 |
Prior service (credits) | (1,243) | (1,195) |
Total recognized in Accumulated other comprehensive loss | 21,559 | 19,676 |
Other Postretirement Benefits Plans [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Net actuarial loss | 152 | 781 |
Prior service (credits) | (328) | (397) |
Total recognized in Accumulated other comprehensive loss | $ (176) | $ 384 |
Postretirement Plans (Schedu106
Postretirement Plans (Schedule Of Estimated Amount That Will Be Amortized From Accumulated Other Comprehensive Loss Into Net Periodic Benefit Cost) (Details) $ in Millions | 12 Months Ended |
Dec. 31, 2016USD ($) | |
Pension Plans [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
Recognized net actuarial loss | $ 801 |
Amortization of prior service (credits) | (41) |
Total | 760 |
Other Postretirement Benefits Plans [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
Recognized net actuarial loss | 10 |
Amortization of prior service (credits) | (137) |
Total | $ (127) |
Postretirement Plans (Schedu107
Postretirement Plans (Schedule Of Key Information For All Plans With ABO In Excess Of Plan Assets) (Details) - Pension Plans [Member] - USD ($) $ in Millions | Dec. 31, 2016 | Dec. 31, 2015 |
Defined Benefit Plan Disclosure [Line Items] | ||
Projected benefit obligation | $ 76,586 | $ 74,188 |
Accumulated benefit obligation | 74,081 | 72,121 |
Fair value of plan assets | $ 56,530 | $ 56,306 |
Postretirement Plans (Schedu108
Postretirement Plans (Schedule Of Assumptions Used To Calculate The Benefit Obligation) (Details) | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Defined Benefit Plan Disclosure [Line Items] | |||
Expected return on plan assets | 6.80% | 7.00% | 7.00% |
Rate of compensation increase | 4.40% | 4.00% | 3.80% |
Pension Plans [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Discount rate | 4.00% | 4.20% | 3.90% |
Other Postretirement Benefits Plans [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Discount rate | 3.70% | 3.80% | 3.50% |
Postretirement Plans (Schedu109
Postretirement Plans (Schedule Of Assumed Health Care Cost Trend Rates) (Details) | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
General Discussion of Pension and Other Postretirement Benefits [Abstract] | |||
Health care cost trend rate assumed next year | 6.50% | 6.50% | 7.00% |
Ultimate trend rate | 5.00% | 5.00% | 5.00% |
Year that trend reached ultimate rate | 2,021 | 2,021 | 2,018 |
Postretirement Plans (Schedu110
Postretirement Plans (Schedule Of One-Percentage-Point Change In Assumed Health Care Cost Trend Rates) (Details) $ in Millions | 12 Months Ended |
Dec. 31, 2016USD ($) | |
General Discussion of Pension and Other Postretirement Benefits [Abstract] | |
Effect on total of service and interest cost, Increase | $ 48 |
Effect on total of service and interest cost, Decrease | (40) |
Effect on postretirement benefit obligation, Increase | 586 |
Effect on postretirement benefit obligation, Decrease | $ (496) |
Postretirement Plans (Schedu111
Postretirement Plans (Schedule Of Actual Allocations For The Pension Assets And Target Allocations By Asset Class) (Details) - Pension Plans [Member] | 12 Months Ended | |
Dec. 31, 2016 | Dec. 31, 2015 | |
Defined Benefit Plan Disclosure [Line Items] | ||
Defined benefit plan, actual plan asset allocations | 100.00% | 100.00% |
Defined benefit plan, target plan asset allocations | 100.00% | 100.00% |
Fixed Income Securities [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Defined benefit plan, actual plan asset allocations | 48.00% | 48.00% |
Defined benefit plan, target plan asset allocations | 47.00% | 47.00% |
Equity securities [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Defined benefit plan, actual plan asset allocations | 28.00% | 28.00% |
Defined benefit plan, target plan asset allocations | 29.00% | 29.00% |
Private Equity Funds [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Defined benefit plan, actual plan asset allocations | 5.00% | 5.00% |
Defined benefit plan, target plan asset allocations | 5.00% | 5.00% |
Real estate and real assets [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Defined benefit plan, actual plan asset allocations | 9.00% | 9.00% |
Defined benefit plan, target plan asset allocations | 9.00% | 9.00% |
Hedge Funds [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Defined benefit plan, actual plan asset allocations | 10.00% | 10.00% |
Defined benefit plan, target plan asset allocations | 10.00% | 10.00% |
Postretirement Plans (Schedu112
Postretirement Plans (Schedule Of Allocation of Plan Assets) (Details) - Pension Plans [Member] - USD ($) $ in Millions | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | ||
Fair Value Measurement [Domain] | |||||
Defined Benefit Plan Disclosure [Line Items] | |||||
Defined Benefit Plan, Fair Value of Plan Assets | $ 37,866 | $ 37,376 | |||
Defined Benefit Plan, Fair Value of Plan Assets | 56,692 | 56,514 | $ 61,119 | ||
Defined Benefit Plan, Plan Assets Measured at Net Asset Value | 18,519 | 18,674 | |||
Fair Value, Inputs, Level 1 [Member] | |||||
Defined Benefit Plan Disclosure [Line Items] | |||||
Defined Benefit Plan, Fair Value of Plan Assets | 11,968 | 11,681 | |||
Fair Value, Inputs, Level 2 [Member] | |||||
Defined Benefit Plan Disclosure [Line Items] | |||||
Defined Benefit Plan, Fair Value of Plan Assets | 25,548 | 25,231 | |||
Fair Value, Inputs, Level 3 [Member] | |||||
Defined Benefit Plan Disclosure [Line Items] | |||||
Defined Benefit Plan, Fair Value of Plan Assets | 350 | 464 | 621 | ||
Fixed Income Securities [Member] | Corporate [Member] | |||||
Defined Benefit Plan Disclosure [Line Items] | |||||
Defined Benefit Plan, Fair Value of Plan Assets | 16,730 | 16,339 | |||
Fixed Income Securities [Member] | Corporate [Member] | Fair Value, Inputs, Level 2 [Member] | |||||
Defined Benefit Plan Disclosure [Line Items] | |||||
Defined Benefit Plan, Fair Value of Plan Assets | 16,723 | 16,336 | |||
Fixed Income Securities [Member] | Corporate [Member] | Fair Value, Inputs, Level 3 [Member] | |||||
Defined Benefit Plan Disclosure [Line Items] | |||||
Defined Benefit Plan, Fair Value of Plan Assets | 7 | 11 | [1] | ||
Fixed Income Securities [Member] | Corporate and other [Member] | Fair Value, Inputs, Level 3 [Member] | |||||
Defined Benefit Plan Disclosure [Line Items] | |||||
Defined Benefit Plan, Fair Value of Plan Assets | 3 | 1 | [2] | ||
Fixed Income Securities [Member] | US Government and agencies [Member] | |||||
Defined Benefit Plan Disclosure [Line Items] | |||||
Defined Benefit Plan, Fair Value of Plan Assets | 4,876 | 4,801 | |||
Fixed Income Securities [Member] | US Government and agencies [Member] | Fair Value, Inputs, Level 2 [Member] | |||||
Defined Benefit Plan Disclosure [Line Items] | |||||
Defined Benefit Plan, Fair Value of Plan Assets | 4,875 | 4,800 | |||
Fixed Income Securities [Member] | US Government and agencies [Member] | Fair Value, Inputs, Level 3 [Member] | |||||
Defined Benefit Plan Disclosure [Line Items] | |||||
Defined Benefit Plan, Fair Value of Plan Assets | 1 | 1 | [1] | 1 | [2] |
Fixed Income Securities [Member] | Mortgage backed, asset back, and other securities [Member] | |||||
Defined Benefit Plan Disclosure [Line Items] | |||||
Defined Benefit Plan, Fair Value of Plan Assets | 706 | ||||
Fixed Income Securities [Member] | Mortgage backed, asset back, and other securities [Member] | Fair Value, Inputs, Level 2 [Member] | |||||
Defined Benefit Plan Disclosure [Line Items] | |||||
Defined Benefit Plan, Fair Value of Plan Assets | 370 | ||||
Fixed Income Securities [Member] | Mortgage backed, asset back, and other securities [Member] | Fair Value, Inputs, Level 3 [Member] | |||||
Defined Benefit Plan Disclosure [Line Items] | |||||
Defined Benefit Plan, Fair Value of Plan Assets | 336 | 440 | [1] | ||
Fixed Income Securities [Member] | Mortgage backed and asset backed securities [Member] | |||||
Defined Benefit Plan Disclosure [Line Items] | |||||
Defined Benefit Plan, Fair Value of Plan Assets | 830 | ||||
Fixed Income Securities [Member] | Mortgage backed and asset backed securities [Member] | Fair Value, Inputs, Level 2 [Member] | |||||
Defined Benefit Plan Disclosure [Line Items] | |||||
Defined Benefit Plan, Fair Value of Plan Assets | 382 | ||||
Fixed Income Securities [Member] | Mortgage backed and asset backed securities [Member] | Fair Value, Inputs, Level 3 [Member] | |||||
Defined Benefit Plan Disclosure [Line Items] | |||||
Defined Benefit Plan, Fair Value of Plan Assets | 448 | 611 | [2] | ||
Fixed Income Securities [Member] | Municipal [Member] | |||||
Defined Benefit Plan Disclosure [Line Items] | |||||
Defined Benefit Plan, Fair Value of Plan Assets | 1,398 | 1,475 | |||
Fixed Income Securities [Member] | Municipal [Member] | Fair Value, Inputs, Level 2 [Member] | |||||
Defined Benefit Plan Disclosure [Line Items] | |||||
Defined Benefit Plan, Fair Value of Plan Assets | 1,398 | 1,475 | |||
Fixed Income Securities [Member] | Sovereign [Member] | |||||
Defined Benefit Plan Disclosure [Line Items] | |||||
Defined Benefit Plan, Fair Value of Plan Assets | 782 | 907 | |||
Fixed Income Securities [Member] | Sovereign [Member] | Fair Value, Inputs, Level 2 [Member] | |||||
Defined Benefit Plan Disclosure [Line Items] | |||||
Defined Benefit Plan, Fair Value of Plan Assets | 782 | 907 | |||
Fixed Income Securities [Member] | Other Debt Obligations [Member] | |||||
Defined Benefit Plan Disclosure [Line Items] | |||||
Defined Benefit Plan, Fair Value of Plan Assets | 74 | 83 | |||
Defined Benefit Plan, Plan Assets Measured at Net Asset Value | 227 | 247 | |||
Fixed Income Securities [Member] | Other Debt Obligations [Member] | Fair Value, Inputs, Level 1 [Member] | |||||
Defined Benefit Plan Disclosure [Line Items] | |||||
Defined Benefit Plan, Fair Value of Plan Assets | 9 | 9 | |||
Fixed Income Securities [Member] | Other Debt Obligations [Member] | Fair Value, Inputs, Level 2 [Member] | |||||
Defined Benefit Plan Disclosure [Line Items] | |||||
Defined Benefit Plan, Fair Value of Plan Assets | 65 | 74 | |||
Fixed Income Securities [Member] | Derivative Assets [Member] | |||||
Defined Benefit Plan Disclosure [Line Items] | |||||
Defined Benefit Plan, Fair Value of Plan Assets | 40 | 25 | |||
Fixed Income Securities [Member] | Derivative Assets [Member] | Fair Value, Inputs, Level 2 [Member] | |||||
Defined Benefit Plan Disclosure [Line Items] | |||||
Defined Benefit Plan, Fair Value of Plan Assets | 40 | 25 | |||
Fixed Income Securities [Member] | Derivative Liabilities [Member] | |||||
Defined Benefit Plan Disclosure [Line Items] | |||||
Defined Benefit Plan, Fair Value of Plan Assets | (38) | (67) | |||
Fixed Income Securities [Member] | Derivative Liabilities [Member] | Fair Value, Inputs, Level 2 [Member] | |||||
Defined Benefit Plan Disclosure [Line Items] | |||||
Defined Benefit Plan, Fair Value of Plan Assets | (38) | (67) | |||
Fixed Income Securities [Member] | Common Or Collective Or Pooled Funds [Member] | |||||
Defined Benefit Plan Disclosure [Line Items] | |||||
Defined Benefit Plan, Plan Assets Measured at Net Asset Value | 1,625 | 1,753 | |||
Cash Equivalents And Other Short-Term Investments [Member] | |||||
Defined Benefit Plan Disclosure [Line Items] | |||||
Defined Benefit Plan, Fair Value of Plan Assets | 1,037 | 1,015 | |||
Cash Equivalents And Other Short-Term Investments [Member] | Fair Value, Inputs, Level 2 [Member] | |||||
Defined Benefit Plan Disclosure [Line Items] | |||||
Defined Benefit Plan, Fair Value of Plan Assets | 1,037 | 1,015 | |||
Equity securities [Member] | Derivative Assets [Member] | |||||
Defined Benefit Plan Disclosure [Line Items] | |||||
Defined Benefit Plan, Fair Value of Plan Assets | 6 | 11 | |||
Equity securities [Member] | Derivative Assets [Member] | Fair Value, Inputs, Level 2 [Member] | |||||
Defined Benefit Plan Disclosure [Line Items] | |||||
Defined Benefit Plan, Fair Value of Plan Assets | 6 | 11 | |||
Equity securities [Member] | Derivative Liabilities [Member] | |||||
Defined Benefit Plan Disclosure [Line Items] | |||||
Defined Benefit Plan, Fair Value of Plan Assets | (8) | (3) | |||
Equity securities [Member] | Derivative Liabilities [Member] | Fair Value, Inputs, Level 2 [Member] | |||||
Defined Benefit Plan Disclosure [Line Items] | |||||
Defined Benefit Plan, Fair Value of Plan Assets | (8) | (3) | |||
Equity securities [Member] | Common Or Collective Or Pooled Funds [Member] | |||||
Defined Benefit Plan Disclosure [Line Items] | |||||
Defined Benefit Plan, Plan Assets Measured at Net Asset Value | 4,962 | 4,948 | |||
Equity securities [Member] | United States Common And Preferred Stock [Member] | |||||
Defined Benefit Plan Disclosure [Line Items] | |||||
Defined Benefit Plan, Fair Value of Plan Assets | 5,374 | 5,165 | |||
Equity securities [Member] | United States Common And Preferred Stock [Member] | Fair Value, Inputs, Level 1 [Member] | |||||
Defined Benefit Plan Disclosure [Line Items] | |||||
Defined Benefit Plan, Fair Value of Plan Assets | 5,373 | 5,164 | |||
Equity securities [Member] | United States Common And Preferred Stock [Member] | Fair Value, Inputs, Level 3 [Member] | |||||
Defined Benefit Plan Disclosure [Line Items] | |||||
Defined Benefit Plan, Fair Value of Plan Assets | 1 | 1 | |||
Equity securities [Member] | Non United States Common And Preferred Stock [Member] | |||||
Defined Benefit Plan Disclosure [Line Items] | |||||
Defined Benefit Plan, Fair Value of Plan Assets | 5,746 | 5,712 | |||
Equity securities [Member] | Non United States Common And Preferred Stock [Member] | Fair Value, Inputs, Level 1 [Member] | |||||
Defined Benefit Plan Disclosure [Line Items] | |||||
Defined Benefit Plan, Fair Value of Plan Assets | 5,746 | 5,710 | |||
Equity securities [Member] | Non United States Common And Preferred Stock [Member] | Fair Value, Inputs, Level 3 [Member] | |||||
Defined Benefit Plan Disclosure [Line Items] | |||||
Defined Benefit Plan, Fair Value of Plan Assets | 0 | 2 | 1 | ||
Private Equity Funds [Member] | |||||
Defined Benefit Plan Disclosure [Line Items] | |||||
Defined Benefit Plan, Fair Value of Plan Assets | 0 | 3 | |||
Defined Benefit Plan, Plan Assets Measured at Net Asset Value | 2,639 | 2,611 | |||
Private Equity Funds [Member] | Fair Value, Inputs, Level 3 [Member] | |||||
Defined Benefit Plan Disclosure [Line Items] | |||||
Defined Benefit Plan, Fair Value of Plan Assets | 0 | 3 | 3 | ||
Real estate and real assets [Member] | |||||
Defined Benefit Plan Disclosure [Line Items] | |||||
Defined Benefit Plan, Plan Assets Measured at Net Asset Value | 3,625 | 3,637 | |||
Real estate and real assets [Member] | Derivative Assets [Member] | |||||
Defined Benefit Plan Disclosure [Line Items] | |||||
Defined Benefit Plan, Fair Value of Plan Assets | 4 | 3 | |||
Real estate and real assets [Member] | Derivative Assets [Member] | Fair Value, Inputs, Level 2 [Member] | |||||
Defined Benefit Plan Disclosure [Line Items] | |||||
Defined Benefit Plan, Fair Value of Plan Assets | 4 | 3 | |||
Real estate and real assets [Member] | Derivative Liabilities [Member] | |||||
Defined Benefit Plan Disclosure [Line Items] | |||||
Defined Benefit Plan, Fair Value of Plan Assets | (1) | (2) | |||
Real estate and real assets [Member] | Derivative Liabilities [Member] | Fair Value, Inputs, Level 2 [Member] | |||||
Defined Benefit Plan Disclosure [Line Items] | |||||
Defined Benefit Plan, Fair Value of Plan Assets | (1) | (2) | |||
Real estate and real assets [Member] | Real Estate [Member] | |||||
Defined Benefit Plan Disclosure [Line Items] | |||||
Defined Benefit Plan, Fair Value of Plan Assets | 468 | 447 | |||
Real estate and real assets [Member] | Real Estate [Member] | Fair Value, Inputs, Level 1 [Member] | |||||
Defined Benefit Plan Disclosure [Line Items] | |||||
Defined Benefit Plan, Fair Value of Plan Assets | 468 | 447 | |||
Real estate and real assets [Member] | Real assets [Member] | |||||
Defined Benefit Plan Disclosure [Line Items] | |||||
Defined Benefit Plan, Fair Value of Plan Assets | 672 | 632 | |||
Real estate and real assets [Member] | Real assets [Member] | Fair Value, Inputs, Level 1 [Member] | |||||
Defined Benefit Plan Disclosure [Line Items] | |||||
Defined Benefit Plan, Fair Value of Plan Assets | 372 | 351 | |||
Real estate and real assets [Member] | Real assets [Member] | Fair Value, Inputs, Level 2 [Member] | |||||
Defined Benefit Plan Disclosure [Line Items] | |||||
Defined Benefit Plan, Fair Value of Plan Assets | 295 | 275 | |||
Real estate and real assets [Member] | Real assets [Member] | Fair Value, Inputs, Level 3 [Member] | |||||
Defined Benefit Plan Disclosure [Line Items] | |||||
Defined Benefit Plan, Fair Value of Plan Assets | 5 | 6 | $ 4 | ||
Hedge Funds [Member] | |||||
Defined Benefit Plan Disclosure [Line Items] | |||||
Defined Benefit Plan, Plan Assets Measured at Net Asset Value | 5,441 | 5,478 | |||
Cash On Hand [Member] | |||||
Defined Benefit Plan Disclosure [Line Items] | |||||
Defined Benefit Plan, Fair Value of Plan Assets | 160 | 162 | |||
Receivables [Member] | |||||
Defined Benefit Plan Disclosure [Line Items] | |||||
Defined Benefit Plan, Fair Value of Plan Assets | 374 | 435 | |||
Payables [Member] | |||||
Defined Benefit Plan Disclosure [Line Items] | |||||
Defined Benefit Plan, Fair Value of Plan Assets | $ (227) | $ (133) | |||
[1] | Certain fixed income securities were reclassified from mortgage backed and asset backed to corporate on January 1, 2016. | ||||
[2] | Certain fixed income securities were reclassified from corporate and mortgage backed and asset backed to U.S. government and agencies on January 1, 2015. |
Postretirement Plans (Reconcili
Postretirement Plans (Reconciliation Of Level 3 Assets Held) (Details) - Pension Plans [Member] - USD ($) $ in Millions | 12 Months Ended | ||||
Dec. 31, 2016 | Dec. 31, 2015 | ||||
Defined Benefit Plan, Change in Fair Value of Plan Assets, Level 3 Reconciliation [Roll Forward] | |||||
Beginning balance at fair value | $ 56,514 | $ 61,119 | |||
Net Realized and Unrealized Gains/(Losses) | 3,885 | (701) | |||
Net Purchases, Issuances and Settlements | (24) | (649) | |||
Ending balance at fair value | 56,692 | 56,514 | |||
Level 3 [Member] | |||||
Defined Benefit Plan, Change in Fair Value of Plan Assets, Level 3 Reconciliation [Roll Forward] | |||||
Beginning balance at fair value | 464 | 621 | |||
Net Realized and Unrealized Gains/(Losses) | 4 | (12) | |||
Net Purchases, Issuances and Settlements | (97) | (153) | |||
Net Transfers Into/(Out of) Level 3 | (21) | 8 | |||
Ending balance at fair value | 350 | 464 | |||
Fixed Income Securities [Member] | Corporate [Member] | |||||
Defined Benefit Plan, Change in Fair Value of Plan Assets, Level 3 Reconciliation [Roll Forward] | |||||
Beginning balance at fair value | 16,339 | ||||
Ending balance at fair value | 16,730 | 16,339 | |||
Fixed Income Securities [Member] | Corporate [Member] | Level 3 [Member] | |||||
Defined Benefit Plan, Change in Fair Value of Plan Assets, Level 3 Reconciliation [Roll Forward] | |||||
Beginning balance at fair value | [1] | 11 | |||
Net Purchases, Issuances and Settlements | (1) | ||||
Net Transfers Into/(Out of) Level 3 | (3) | ||||
Ending balance at fair value | 7 | 11 | [1] | ||
Fixed Income Securities [Member] | US Treasury and Government [Member] | |||||
Defined Benefit Plan, Change in Fair Value of Plan Assets, Level 3 Reconciliation [Roll Forward] | |||||
Beginning balance at fair value | 4,801 | ||||
Ending balance at fair value | 4,876 | 4,801 | |||
Fixed Income Securities [Member] | US Treasury and Government [Member] | Level 3 [Member] | |||||
Defined Benefit Plan, Change in Fair Value of Plan Assets, Level 3 Reconciliation [Roll Forward] | |||||
Beginning balance at fair value | 1 | [1] | 1 | [2] | |
Ending balance at fair value | 1 | 1 | [1] | ||
Fixed Income Securities [Member] | Mortgage backed, asset back, and other securities [Member] | |||||
Defined Benefit Plan, Change in Fair Value of Plan Assets, Level 3 Reconciliation [Roll Forward] | |||||
Ending balance at fair value | 706 | ||||
Fixed Income Securities [Member] | Mortgage backed, asset back, and other securities [Member] | Level 3 [Member] | |||||
Defined Benefit Plan, Change in Fair Value of Plan Assets, Level 3 Reconciliation [Roll Forward] | |||||
Beginning balance at fair value | [1] | 440 | |||
Net Realized and Unrealized Gains/(Losses) | 7 | ||||
Net Purchases, Issuances and Settlements | (93) | ||||
Net Transfers Into/(Out of) Level 3 | (18) | ||||
Ending balance at fair value | 336 | 440 | [1] | ||
Fixed Income Securities [Member] | Mortgage backed and asset backed | |||||
Defined Benefit Plan, Change in Fair Value of Plan Assets, Level 3 Reconciliation [Roll Forward] | |||||
Beginning balance at fair value | 830 | ||||
Ending balance at fair value | 830 | ||||
Fixed Income Securities [Member] | Mortgage backed and asset backed | Level 3 [Member] | |||||
Defined Benefit Plan, Change in Fair Value of Plan Assets, Level 3 Reconciliation [Roll Forward] | |||||
Beginning balance at fair value | 448 | 611 | [2] | ||
Net Realized and Unrealized Gains/(Losses) | (9) | ||||
Net Purchases, Issuances and Settlements | (157) | ||||
Net Transfers Into/(Out of) Level 3 | 3 | ||||
Ending balance at fair value | 448 | ||||
Fixed Income Securities [Member] | Corporate and other [Member] | Level 3 [Member] | |||||
Defined Benefit Plan, Change in Fair Value of Plan Assets, Level 3 Reconciliation [Roll Forward] | |||||
Beginning balance at fair value | 3 | 1 | [2] | ||
Net Purchases, Issuances and Settlements | 1 | ||||
Net Transfers Into/(Out of) Level 3 | 1 | ||||
Ending balance at fair value | 3 | ||||
Fixed Income Securities [Member] | Other Debt Obligations [Member] | |||||
Defined Benefit Plan, Change in Fair Value of Plan Assets, Level 3 Reconciliation [Roll Forward] | |||||
Beginning balance at fair value | 83 | ||||
Ending balance at fair value | 74 | 83 | |||
Equity securities [Member] | United States Common And Preferred Stock [Member] | |||||
Defined Benefit Plan, Change in Fair Value of Plan Assets, Level 3 Reconciliation [Roll Forward] | |||||
Beginning balance at fair value | 5,165 | ||||
Ending balance at fair value | 5,374 | 5,165 | |||
Equity securities [Member] | United States Common And Preferred Stock [Member] | Level 3 [Member] | |||||
Defined Benefit Plan, Change in Fair Value of Plan Assets, Level 3 Reconciliation [Roll Forward] | |||||
Beginning balance at fair value | 1 | ||||
Net Transfers Into/(Out of) Level 3 | 1 | ||||
Ending balance at fair value | 1 | 1 | |||
Equity securities [Member] | Non United States Common And Preferred Stock [Member] | |||||
Defined Benefit Plan, Change in Fair Value of Plan Assets, Level 3 Reconciliation [Roll Forward] | |||||
Beginning balance at fair value | 5,712 | ||||
Ending balance at fair value | 5,746 | 5,712 | |||
Equity securities [Member] | Non United States Common And Preferred Stock [Member] | Level 3 [Member] | |||||
Defined Benefit Plan, Change in Fair Value of Plan Assets, Level 3 Reconciliation [Roll Forward] | |||||
Beginning balance at fair value | 2 | 1 | |||
Net Purchases, Issuances and Settlements | (2) | (2) | |||
Net Transfers Into/(Out of) Level 3 | 3 | ||||
Ending balance at fair value | 0 | 2 | |||
Private Equity Funds [Member] | |||||
Defined Benefit Plan, Change in Fair Value of Plan Assets, Level 3 Reconciliation [Roll Forward] | |||||
Beginning balance at fair value | 3 | ||||
Ending balance at fair value | 0 | 3 | |||
Private Equity Funds [Member] | Level 3 [Member] | |||||
Defined Benefit Plan, Change in Fair Value of Plan Assets, Level 3 Reconciliation [Roll Forward] | |||||
Beginning balance at fair value | 3 | 3 | |||
Net Realized and Unrealized Gains/(Losses) | (3) | ||||
Ending balance at fair value | 0 | 3 | |||
Real estate and real assets [Member] | Real assets [Member] | |||||
Defined Benefit Plan, Change in Fair Value of Plan Assets, Level 3 Reconciliation [Roll Forward] | |||||
Beginning balance at fair value | 632 | ||||
Ending balance at fair value | 672 | 632 | |||
Real estate and real assets [Member] | Real assets [Member] | Level 3 [Member] | |||||
Defined Benefit Plan, Change in Fair Value of Plan Assets, Level 3 Reconciliation [Roll Forward] | |||||
Beginning balance at fair value | 6 | 4 | |||
Net Purchases, Issuances and Settlements | (1) | 2 | |||
Ending balance at fair value | 5 | 6 | |||
Other Debt Obligations [Member] | Level 3 [Member] | |||||
Defined Benefit Plan, Change in Fair Value of Plan Assets, Level 3 Reconciliation [Roll Forward] | |||||
Beginning balance at fair value | $ 0 | ||||
Net Realized and Unrealized Gains/(Losses) | (3) | ||||
Net Purchases, Issuances and Settlements | 3 | ||||
Ending balance at fair value | $ 0 | ||||
[1] | Certain fixed income securities were reclassified from mortgage backed and asset backed to corporate on January 1, 2016. | ||||
[2] | Certain fixed income securities were reclassified from corporate and mortgage backed and asset backed to U.S. government and agencies on January 1, 2015. |
Postretirement Plans (Schedu114
Postretirement Plans (Schedule Of Estimated Future Benefit Payments) (Details) $ in Millions | Dec. 31, 2016USD ($) |
Pension Plans [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
Expected future benefit payments, 2017 | $ 4,558 |
Expected future benefit payments, 2018 | 4,622 |
Expected future benefit payments, 2019 | 4,611 |
Expected future benefit payments, 2020 | 4,662 |
Expected future benefit payments, 2021 | 4,637 |
Expected future benefit payments, 2022-2026 | 23,108 |
Other Postretirement Benefits Plans [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
Expected future benefit payments, 2017 | 466 |
Expected future benefit payments, 2018 | 484 |
Expected future benefit payments, 2019 | 499 |
Expected future benefit payments, 2020 | 517 |
Expected future benefit payments, 2021 | 523 |
Expected future benefit payments, 2022-2026 | 2,511 |
Gross benefits paid, 2017 | 498 |
Gross benefits paid, 2018 | 515 |
Gross benefits paid, 2019 | 530 |
Gross benefits paid, 2020 | 548 |
Gross benefits paid, 2021 | 553 |
Gross benefits paid, 2022-2026 | 2,654 |
Subsidies, 2017 | (32) |
Subsidies, 2018 | (31) |
Subsidies, 2019 | (31) |
Subsidies, 2020 | (31) |
Subsidies, 2021 | (30) |
Subsidies, 2022-2026 | $ (143) |
Share-Based Compensation And115
Share-Based Compensation And Other Compensation Arrangements (Narrative) (Details) - USD ($) | Feb. 22, 2016 | Feb. 23, 2015 | Feb. 24, 2014 | Feb. 29, 2016 | Feb. 28, 2015 | Feb. 28, 2014 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | Feb. 28, 2016 |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||||||
Aggregate number of shares of stock available for issuance | 87,000,000 | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period | 8,646,612 | 12,925,944 | ||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period, Total Intrinsic Value | $ 265,000,000 | $ 385,000,000 | $ 250,000,000 | |||||||
Cash received from options exercised | 321,000,000 | 399,000,000 | 343,000,000 | |||||||
Tax benefit realized from exercise of stock options | 94,000,000 | 135,000,000 | 87,000,000 | |||||||
Grant date fair value of stock options vested | 27,000,000 | 56,000,000 | 87,000,000 | |||||||
Deferred compensation | 46,000,000 | 63,000,000 | 44,000,000 | |||||||
Deferred compensation liability which is being marked to market | $ 1,126,000,000 | 1,191,000,000 | ||||||||
2014 Stock Options [Member] | ||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period | 6,221 | |||||||||
Stock Options [Member] | ||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||||||
Share-based payment award options expiration term (in years) | 10 years | |||||||||
Award vesting period (in years) | 3 years | |||||||||
Restricted Stock Units (RSUs) [Member] | ||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||||||
Restricted stock units (RSUs) granted | 777,837 | 590,778 | 695,651 | |||||||
Restricted stock units (RSUs) granted (fair value per share) | $ 117.50 | $ 154.64 | $ 129.58 | |||||||
Performance Awards [Member] | ||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||||||
Award vesting period (in years) | 3 years | |||||||||
Performance Awards [Member] | 2016 Performance Awards [Member] | ||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||||||
Initial Value Of Performance Awards (per unit) | $ 100 | |||||||||
Performance Awards [Member] | 2015 Performance Awards [Member] | ||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||||||
Award vesting period (in years) | 3 years | |||||||||
Performance Awards [Member] | 2014 Performance Awards [Member] | ||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||||||
Award vesting period (in years) | 3 years | |||||||||
Performance Awards [Member] | Minimum [Member] | ||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||||||
Performance Award Payout Amount, Aggregate | $ 0 | |||||||||
Performance Awards [Member] | Minimum [Member] | 2016 Performance Awards [Member] | ||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||||||
Amount payable at end of three-year performance period2 | 0 | |||||||||
Performance Awards [Member] | Minimum [Member] | 2015 Performance Awards [Member] | ||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||||||
Amount payable at end of three-year performance period2 | $ 0 | |||||||||
Performance Awards [Member] | Minimum [Member] | 2014 Performance Awards [Member] | ||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||||||
Amount payable at end of three-year performance period2 | $ 0 | |||||||||
Performance Awards [Member] | Maximum [Member] | 2016 Performance Awards [Member] | ||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||||||
Performance Award Payout Amount, Aggregate | $ 338,000,000 | |||||||||
Amount payable at end of three-year performance period2 | $ 200 | |||||||||
Performance Awards [Member] | Maximum [Member] | 2015 Performance Awards [Member] | ||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||||||
Performance Award Payout Amount, Aggregate | $ 322,000,000 | |||||||||
Amount payable at end of three-year performance period2 | $ 200 | |||||||||
Performance Awards [Member] | Maximum [Member] | 2014 Performance Awards [Member] | ||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||||||
Performance Award Payout Amount, Aggregate | $ 315,000,000 | |||||||||
Amount payable at end of three-year performance period2 | $ 200 | |||||||||
Performance Based Restricted Stock Units (PBRSUs) [Member] | ||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||||||
Award vesting period (in years) | 3 years | 3 years | 3 years | |||||||
Restricted stock units (RSUs) granted | 721,176 | 556,203 | 662,215 | |||||||
Restricted stock units (RSUs) granted (fair value per share) | $ 126.74 | $ 164.26 | $ 136.12 | |||||||
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Volatility Rate | 22.44% | 20.35% | 24.20% | |||||||
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Risk Free Interest Rate | 0.92% | 1.03% | 0.72% | |||||||
Performance Based Restricted Stock Units (PBRSUs) [Member] | 2016 PBRSU [Member] | ||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||||||
Initial PBRSU value, percentage of value it cannot exceed | 400.00% | |||||||||
Performance Based Restricted Stock Units (PBRSUs) [Member] | 2015 PBRSU [Member] | ||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||||||
Initial PBRSU value, percentage of value it cannot exceed | 400.00% | |||||||||
Performance Based Restricted Stock Units (PBRSUs) [Member] | 2014 PBRSU [Member] | ||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||||||
Initial PBRSU value, percentage of value it cannot exceed | 400.00% | |||||||||
Performance Based Restricted Stock Units (PBRSUs) [Member] | Minimum [Member] | 2016 PBRSU [Member] | ||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||||||
Award Payout Range | 0.00% | |||||||||
Performance Based Restricted Stock Units (PBRSUs) [Member] | Minimum [Member] | 2015 PBRSU [Member] | ||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||||||
Award Payout Range | 0.00% | |||||||||
Performance Based Restricted Stock Units (PBRSUs) [Member] | Minimum [Member] | 2014 PBRSU [Member] | ||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||||||
Award Payout Range | 0.00% | |||||||||
Performance Based Restricted Stock Units (PBRSUs) [Member] | Maximum [Member] | 2016 PBRSU [Member] | ||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||||||
Award Payout Range | 200.00% | |||||||||
Performance Based Restricted Stock Units (PBRSUs) [Member] | Maximum [Member] | 2015 PBRSU [Member] | ||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||||||
Award Payout Range | 200.00% | |||||||||
Performance Based Restricted Stock Units (PBRSUs) [Member] | Maximum [Member] | 2014 PBRSU [Member] | ||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||||||
Award Payout Range | 200.00% |
Share-Based Compensation And116
Share-Based Compensation And Other Compensation Arrangements (Schedule Of Share-Based Plans Expense And Related Income Tax Benefit) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Share-based plans expense | $ 193 | $ 190 | $ 195 |
Income tax benefit | 69 | 68 | 70 |
Stock Options [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Share-based plans expense | 4 | 30 | 62 |
Restricted Stock Units and Other Awards [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Share-based plans expense | $ 189 | $ 160 | $ 133 |
Share-Based Compensation And117
Share-Based Compensation And Other Compensation Arrangements (Schedule Of Stock Option Activity) (Details) $ / shares in Units, $ in Millions | 12 Months Ended |
Dec. 31, 2016USD ($)$ / sharesshares | |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward] | |
Shares, Outstanding at beginning of year | shares | 12,925,944 |
Shares, Exercised | shares | (4,270,336) |
Shares, Forfeited | shares | (6,270) |
Shares, Expired | shares | (2,726) |
Shares, Outstanding at end of year | shares | 8,646,612 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price [Roll Forward] | |
Weighted Average Exercise Price Per Share, Outstanding at beginning of year | $ / shares | $ 73.44 |
Weighted Average Exercise Price Per Share, Exercised | $ / shares | 75.04 |
Weighted Average Exercise Price Per Share, Forfeited | $ / shares | 84.20 |
Weighted Average Exercise Price Per Share, Expired | $ / shares | 74.43 |
Weighted Average Exercise Price Per Share, Outstanding at end of year | $ / shares | $ 72.64 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Additional Disclosures [Abstract] | |
Weighted Average Remaining Contractual Life (Years), Outstanding at end of year | 4 years 8 months 1 day |
Aggregate Intrinsic Value, Outstanding at end of year | $ | $ 718 |
Shares, Exercisable at end of year | shares | 8,640,391 |
Weighted Average Exercise Price Per Share, Exercisable at end of year | $ / shares | $ 72.60 |
Weighted Average Remaining Contractual Life (Years), Exercisable at end of year | 4 years 8 months 1 day |
Aggregate Intrinsic Value, Exercisable at end of year | $ | $ 718 |
Share-Based Compensation And118
Share-Based Compensation And Other Compensation Arrangements Schedule of PBRSUs Grant Fair Values (Details) - Performance Based Restricted Stock Units (PBRSUs) [Member] - $ / shares | Feb. 22, 2016 | Feb. 23, 2015 | Feb. 24, 2014 |
Schedule of Performance Based Restricted Stock Units Grant Date Fair values [Line Items] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 3 years | 3 years | 3 years |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value | $ 126.74 | $ 164.26 | $ 136.12 |
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Volatility Rate | 22.44% | 20.35% | 24.20% |
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Risk Free Interest Rate | 0.92% | 1.03% | 0.72% |
Share-Based Compensation And119
Share-Based Compensation And Other Compensation Arrangements (Schedule Of Stock Unit Activity) (Details) $ in Millions | 12 Months Ended |
Dec. 31, 2016USD ($)shares | |
Share-based Compensation Arrangement by Share-based Payment Award, Additional General Disclosures [Abstract] | |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Remaining Contractual Term | 4 years 8 months 1 day |
Incentive Program Restricted Stock Units [Member] | |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward] | |
Number of units, Outstanding at beginning of year | 2,346,640 |
Number of units, Granted | 811,317 |
Number of units, Dividends | 66,609 |
Number of units, Forfeited | (165,111) |
Number of units, Distributed | (1,244,811) |
Number of units, Outstanding at end of year | 1,814,644 |
Share-based Compensation Arrangement by Share-based Payment Award, Additional General Disclosures [Abstract] | |
Unrecognized compensation cost | $ | $ 92 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Remaining Contractual Term | 1 year 9 months 22 days |
Other Restricted Stock Units [Member] | |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward] | |
Number of units, Outstanding at beginning of year | 1,121,001 |
Number of units, Granted | 391,961 |
Number of units, Dividends | 35,848 |
Number of units, Forfeited | (46,115) |
Number of units, Distributed | (424,775) |
Number of units, Outstanding at end of year | 1,077,920 |
Share-based Compensation Arrangement by Share-based Payment Award, Additional General Disclosures [Abstract] | |
Unrecognized compensation cost | $ | $ 58 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Remaining Contractual Term | 3 years 9 months 22 days |
Incentive Program Performance Based Restricted Stock Units [Member] | |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward] | |
Number of units, Outstanding at beginning of year | 1,123,035 |
Number of units, Granted | 721,176 |
Number of units, Dividends | 52,540 |
Number of units, Forfeited | (150,240) |
Number of units, Outstanding at end of year | 1,746,511 |
Share-based Compensation Arrangement by Share-based Payment Award, Additional General Disclosures [Abstract] | |
Unrecognized compensation cost | $ | $ 86 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Remaining Contractual Term | 1 year 9 months 22 days |
Shareholders' Equity (Narrative
Shareholders' Equity (Narrative) (Details) - USD ($) $ in Millions | Dec. 31, 2016 | Dec. 12, 2016 | Dec. 31, 2015 |
Equity, Class of Treasury Stock [Line Items] | |||
Common stock, authorized | 1,200,000,000 | 1,200,000,000 | |
Preferred shares, authorized | 20,000,000 | 20,000,000 | |
2016 Program [Member] | |||
Equity, Class of Treasury Stock [Line Items] | |||
Amount approved to repurchase, shares, maximum | $ 14,000 |
Shareholders' Equity (Schedule
Shareholders' Equity (Schedule Of Changes In Each Class Of Shares) (Details) - shares | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Stockholders' Equity Note [Abstract] | |||
Stock Issued During Period, Shares, Treasury Stock Reissued | 6,376,868 | 7,288,113 | 6,719,270 |
Common Stock, Number of Shares, Par Value and Other Disclosures [Abstract] | |||
Beginning balance, Common Stock | 1,012,261,159 | 1,012,261,159 | 1,012,261,159 |
Ending balance, Common Stock | 1,012,261,159 | 1,012,261,159 | 1,012,261,159 |
Treasury Stock, Number of Shares and Restriction Disclosures [Abstract] | |||
Beginning balance, Treasury Stock | 345,637,354 | 305,533,606 | 264,882,461 |
Acquired, Treasury Stock | 55,849,082 | 47,391,861 | 47,370,415 |
Ending balance, Treasury Stock | 395,109,568 | 345,637,354 | 305,533,606 |
Shareholders' Equity (Accumulat
Shareholders' Equity (Accumulated other comprehensive income) (Details) - USD ($) $ in Millions | 12 Months Ended | |||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | ||
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract] | ||||
Balance | [1] | $ (12,748) | $ (13,903) | $ (9,894) |
OCI before reclassifications | [1] | (1,434) | (51) | (4,878) |
Amounts reclassified from AOCI | [1] | 559 | 1,206 | 869 |
Net current period OCI | [1] | (875) | 1,155 | (4,009) |
Balance | [1] | (13,623) | (12,748) | (13,903) |
Defined benefit pension plans & other postretirement benefits: | ||||
Amortization of actuarial losses included in net periodic pension cost, net of tax of ($570), ($367), and ($849) | 524 | 1,038 | 661 | |
Amortization of actuarial losses included in net periodic pension cost, tax | (288) | (570) | (367) | |
Currency Translation Adjustments [Member] | ||||
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract] | ||||
Balance | (39) | 53 | 150 | |
OCI before reclassifications | (104) | (92) | (97) | |
Amounts reclassified from AOCI | ||||
Net current period OCI | (104) | (92) | (97) | |
Balance | (143) | (39) | 53 | |
Unrealized Gains and Losses on Certain Investments | ||||
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract] | ||||
Balance | 0 | (8) | (8) | |
OCI before reclassifications | (2) | 8 | ||
Amounts reclassified from AOCI | ||||
Net current period OCI | (2) | 8 | ||
Balance | (2) | 0 | (8) | |
Unrealized Gains and Losses on Derivative Instruments | ||||
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract] | ||||
Balance | (197) | (136) | (6) | |
OCI before reclassifications | (8) | (140) | (137) | |
Amounts reclassified from AOCI | 78 | 79 | 7 | |
Net current period OCI | 70 | (61) | (130) | |
Balance | (127) | (197) | (136) | |
Defined Benefit Pension Plans and Other Postretirement Benefits | ||||
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract] | ||||
Balance | (12,512) | (13,812) | (10,030) | |
OCI before reclassifications | (1,320) | 173 | (4,644) | |
Amounts reclassified from AOCI | [2] | 481 | 1,127 | 862 |
Net current period OCI | (839) | 1,300 | (3,782) | |
Balance | $ (13,351) | $ (12,512) | $ (13,812) | |
[1] | Net of tax. | |||
[2] | Primarily relates to amortization of actuarial losses for the years ended December 31, 2016, 2015, and 2014 totaling $524, $1,038, and $661 (net of tax of ($288), ($570), and ($367)), respectively. These are included in the net periodic pension cost of which a portion is allocated to production as inventoried costs. See Note 14. |
Derivative Financial Instrum123
Derivative Financial Instruments (Narrative) (Details) $ in Millions | 12 Months Ended |
Dec. 31, 2016USD ($) | |
Derivative [Line Items] | |
Cash flow hedge gain/(loss) to be reclassified during the next 12 months, pre-tax | $ (101) |
Fair value of foreign exchange and commodity contracts that have credit-risk-related contingent features that are in a net liability position | $ 46 |
Derivative Financial Instrum124
Derivative Financial Instruments (Schedule Of Notional Amounts And Fair Values Of Derivative Instruments) (Details) - USD ($) $ in Millions | Dec. 31, 2016 | Dec. 31, 2015 | |
Derivative [Line Items] | |||
Notional amounts | [1] | $ 3,875 | $ 4,053 |
Other assets | 68 | 38 | |
Accrued liabilities | (247) | (328) | |
Derivative Asset, Collateral, Obligation to Return Cash, Offset | (45) | (23) | |
Derivative Liability, Collateral, Right to Reclaim Cash, Offset | 45 | 23 | |
Net recorded balance, Other assets | 23 | 15 | |
Net recorded balance, Accrued liabilities | (202) | (305) | |
Foreign Exchange Contracts [Member] | Designated as Hedging Instrument [Member] | |||
Derivative [Line Items] | |||
Notional amounts | [1] | 2,584 | 2,727 |
Other assets | 34 | 23 | |
Accrued liabilities | (225) | (304) | |
Foreign Exchange Contracts [Member] | Not Designated as Hedging Instrument [Member] | |||
Derivative [Line Items] | |||
Notional amounts | [1] | 465 | 436 |
Other assets | 21 | 4 | |
Accrued liabilities | (17) | (11) | |
Interest Rate Contracts [Member] | Designated as Hedging Instrument [Member] | |||
Derivative [Line Items] | |||
Notional amounts | [1] | 125 | 125 |
Other assets | 6 | 9 | |
Commodity Contracts [Member] | Designated as Hedging Instrument [Member] | |||
Derivative [Line Items] | |||
Notional amounts | [1] | 53 | 40 |
Other assets | 7 | 2 | |
Accrued liabilities | (5) | (13) | |
Commodity Contracts [Member] | Not Designated as Hedging Instrument [Member] | |||
Derivative [Line Items] | |||
Notional amounts | [1] | $ 648 | $ 725 |
[1] | Notional amounts represent the gross contract/notional amount of the derivatives outstanding. |
Derivative Financial Instrum125
Derivative Financial Instruments (Schedule Of Derivative Instruments, Gains/(Losses) In Statement Of Financial Performance) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Derivative [Line Items] | |||
Effective portion recognized in other comprehensive loss, net of taxes | $ (8) | $ (140) | $ (137) |
Effective portion reclassified out of Accumulated other comprehensive loss into earnings, net of taxes | (78) | (79) | $ (7) |
Foreign Exchange Contracts [Member] | |||
Derivative [Line Items] | |||
Effective portion recognized in other comprehensive loss, net of taxes | (9) | (136) | |
Effective portion reclassified out of Accumulated other comprehensive loss into earnings, net of taxes | (70) | (67) | |
Forward points recognized in Other income, net | 13 | 12 | |
Undesignated derivatives recognized in Other income, net: | (2) | (1) | |
Commodity Contracts [Member] | |||
Derivative [Line Items] | |||
Effective portion recognized in other comprehensive loss, net of taxes | 1 | (4) | |
Effective portion reclassified out of Accumulated other comprehensive loss into earnings, net of taxes | $ (8) | $ (12) |
Significant Group Concentrat126
Significant Group Concentrations Of Risk (Details) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2016 | Dec. 31, 2015 | |
Concentration Risk [Line Items] | ||
Gross accounts receivable and gross customer financing | $ 13,108 | |
Gross customer financing | 4,211 | $ 3,586 |
External Credit Rating, Non Investment Grade [Member] | ||
Concentration Risk [Line Items] | ||
Gross customer financing | $ 2,760 | |
Workforce Subject To Collective Bargaining Arrangements [Member] | ||
Concentration Risk [Line Items] | ||
Concentration Risk, Percentage | 38.00% | |
Commercial Aircraft Customers [Member] | ||
Concentration Risk [Line Items] | ||
Gross accounts receivable and gross customer financing | $ 6,380 | |
Accounts Receivable, Gross, Current | 2,175 | |
Gross customer financing | 4,205 | |
U S Government Contracts [Member] | ||
Concentration Risk [Line Items] | ||
Accounts Receivable, Gross, Current | $ 4,639 | $ 4,864 |
Volga Dnepr Affiliates [Member] | Customer Financing [Member] | External Credit Rating, Non Investment Grade [Member] | ||
Concentration Risk [Line Items] | ||
Concentration Risk, Percentage | 18.00% | |
Silk Way Airlines [Member] | Customer Financing [Member] | External Credit Rating, Non Investment Grade [Member] | ||
Concentration Risk [Line Items] | ||
Concentration Risk, Percentage | 9.00% | |
American Airlines [Member] | Customer Financing [Member] | External Credit Rating, Non Investment Grade [Member] | ||
Concentration Risk [Line Items] | ||
Concentration Risk, Percentage | 6.00% |
Fair Value Measurements Fair Va
Fair Value Measurements Fair Value, Assets and Liabilities Measured on Recurring Basis (Details) - USD ($) $ in Millions | Dec. 31, 2016 | Dec. 31, 2015 |
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ||
Derivatives | $ 23 | $ 15 |
Derivatives | (202) | (305) |
Fair Value, Measurements, Recurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ||
Money market funds | 2,858 | 4,504 |
Commercial Paper, at Carrying Value | 162 | 87 |
Available-for-sale Securities, Debt Securities | 271 | 79 |
Available for Sale Securities, Government Agencies | 63 | 83 |
Available-for-sale Securities, Equity Securities | 46 | 20 |
Derivatives | 23 | 15 |
Total assets | 3,423 | 4,788 |
Derivatives | (202) | (305) |
Total liabilities | (202) | (305) |
Fair Value, Measurements, Recurring [Member] | Level 1 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ||
Money market funds | 2,858 | 4,504 |
Available-for-sale Securities, Equity Securities | 46 | 20 |
Total assets | 2,904 | 4,524 |
Fair Value, Measurements, Recurring [Member] | Level 2 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ||
Commercial Paper, at Carrying Value | 162 | 87 |
Available-for-sale Securities, Debt Securities | 271 | 79 |
Available for Sale Securities, Government Agencies | 63 | 83 |
Derivatives | 23 | 15 |
Total assets | 519 | 264 |
Derivatives | (202) | (305) |
Total liabilities | $ (202) | $ (305) |
Fair Value Measurements Fair128
Fair Value Measurements Fair Value, Assets Measured on Nonrecurring Basis Using Unobservable Inputs (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Fair Value, Assets and Liabilities Measured on Nonrecurring Basis [Line Items] | |||
Nonrecurring fair value losses | $ (90) | $ (167) | $ (229) |
Fair Value Measurements Nonrecurring [Member] | Operating Lease Equipment [Member] | |||
Fair Value, Assets and Liabilities Measured on Nonrecurring Basis [Line Items] | |||
Nonrecurring fair value losses | (52) | (159) | |
Fair Value Measurements Nonrecurring [Member] | Property, Plant and Equipment [Member] | |||
Fair Value, Assets and Liabilities Measured on Nonrecurring Basis [Line Items] | |||
Nonrecurring fair value losses | (9) | (6) | |
Fair Value Measurements Nonrecurring [Member] | Other assets and Acquired intangible assets [Member] | |||
Fair Value, Assets and Liabilities Measured on Nonrecurring Basis [Line Items] | |||
Nonrecurring fair value losses | (10) | ||
Fair Value Measurements Nonrecurring [Member] | Level 3 [Member] | |||
Fair Value, Assets and Liabilities Measured on Nonrecurring Basis [Line Items] | |||
Total Fair Value | 106 | 278 | |
Nonrecurring fair value losses | (71) | (165) | |
Fair Value Measurements Nonrecurring [Member] | Level 3 [Member] | Market Approach Valuation Technique [Member] | |||
Fair Value, Assets and Liabilities Measured on Nonrecurring Basis [Line Items] | |||
Operating Lease Equipment, Fair Value | 84 | 270 | |
Fair Value Measurements Nonrecurring [Member] | Level 3 [Member] | Income Approach Valuation Technique [Member] | |||
Fair Value, Assets and Liabilities Measured on Nonrecurring Basis [Line Items] | |||
Property, Plant, and Equipment, Fair Value | 10 | 8 | |
Other assets and Acquired intangible assets, Fair Value | $ 12 |
Fair Value Measurements Fair129
Fair Value Measurements Fair Value, Assets Measured On Nonrecurring Basis, Valuation Techniques (Details) - USD ($) $ in Millions | Dec. 31, 2016 | Dec. 31, 2015 | |
Aircraft Value Publications [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis, Valuation Techniques [Line Items] | |||
Equipment under operating leases & Assets held for sale or re-lease, Median | $ 212 | ||
Aircraft Value Publications [Member] | Minimum [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis, Valuation Techniques [Line Items] | |||
Equipment under operating leases & Assets held for sale or re-lease, Range | [1] | 158 | |
Aircraft Value Publications [Member] | Maximum [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis, Valuation Techniques [Line Items] | |||
Equipment under operating leases & Assets held for sale or re-lease, Range | [1] | 264 | |
Aircraft Condition Adjustments [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis, Valuation Techniques [Line Items] | |||
Equipment under operating leases & Assets held for sale or re-lease, Net | (128) | ||
Aircraft Condition Adjustments [Member] | Minimum [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis, Valuation Techniques [Line Items] | |||
Equipment under operating leases & Assets held for sale or re-lease, Range | [2] | (128) | |
Aircraft Condition Adjustments [Member] | Maximum [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis, Valuation Techniques [Line Items] | |||
Equipment under operating leases & Assets held for sale or re-lease, Range | [2] | 0 | |
Fair Value Measurements Nonrecurring [Member] | Level 3 [Member] | Market Approach Valuation Technique [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis, Valuation Techniques [Line Items] | |||
Operating Lease Equipment, Fair Value | $ 84 | $ 270 | |
[1] | The range represents the sum of the highest and lowest values for all aircraft subject to fair value measurement, according to the third party aircraft valuation publications that we use in our valuation process. | ||
[2] | The negative amount represents the sum, for all aircraft subject to fair value measurement, of all downward adjustments based on consideration of individual aircraft attributes and condition. The positive amount represents the sum of all such upward adjustments. |
Fair Value Measurements Fair130
Fair Value Measurements Fair Values And Related Carrying Values of Financial Instruments (Details) - USD ($) $ in Millions | Dec. 31, 2016 | Dec. 31, 2015 |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Accounts receivable, net | $ 8,832 | $ 8,713 |
Accounts receivable, Fair Value | 8,830 | 8,705 |
Notes receivable, Fair Value | 803 | 273 |
Debt, excluding capital lease obligations, Fair Value | (11,209) | (11,292) |
Level 2 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Accounts receivable, Fair Value | 8,830 | 8,705 |
Notes receivable, Fair Value | 803 | 273 |
Debt, excluding capital lease obligations, Fair Value | (11,078) | (11,123) |
Level 3 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Debt, excluding capital lease obligations, Fair Value | (131) | (169) |
Carrying Amount [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Accounts receivable, net | 8,832 | 8,713 |
Notes receivable, net | 807 | 255 |
Debt, excluding capital lease obligations, Carrying Amount | $ (9,815) | $ (9,814) |
Segment Information (Narrative)
Segment Information (Narrative) (Details) $ in Millions | 12 Months Ended | ||
Dec. 31, 2016USD ($)segments | Dec. 31, 2015USD ($) | Dec. 31, 2014USD ($) | |
Segment Reporting Information [Line Items] | |||
Number of Reportable Segments | segments | 5 | ||
Percent of operating assets located outside the United States | 4.00% | 4.00% | |
Earnings from operations associated with our cost and equity method investments | $ 303 | $ 274 | $ 287 |
Commercial Airplanes [Member] | |||
Segment Reporting Information [Line Items] | |||
Earnings from operations associated with our cost and equity method investments | 46 | 64 | 58 |
Defense, Space & Security [Member] | Network & Space Systems [Member] | |||
Segment Reporting Information [Line Items] | |||
Earnings from operations associated with our cost and equity method investments | $ 257 | $ 210 | $ 229 |
Defense, Space & Security [Member] | U S Government Contracts [Member] | Sales [Member] | |||
Segment Reporting Information [Line Items] | |||
Entity-Wide Revenue, Major Customer, Percentage | 23.00% | 27.00% | 30.00% |
Segment Information (Schedule O
Segment Information (Schedule Of Revenue from External Customers Attributed to Foreign Countries by Geographic Area) (Details) - USD ($) $ in Millions | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2015 | Sep. 30, 2015 | Jun. 30, 2015 | Mar. 31, 2015 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Revenues from External Customers and Long-Lived Assets [Line Items] | |||||||||||
Total revenues | $ 23,286 | $ 23,898 | $ 24,755 | $ 22,632 | $ 23,573 | $ 25,849 | $ 24,543 | $ 22,149 | $ 94,571 | $ 96,114 | $ 90,762 |
Non-U.S. [member] | |||||||||||
Revenues from External Customers and Long-Lived Assets [Line Items] | |||||||||||
Total revenues | 55,806 | 56,827 | 52,920 | ||||||||
Asia, Other Than China [member] | |||||||||||
Revenues from External Customers and Long-Lived Assets [Line Items] | |||||||||||
Total revenues | 10,553 | 13,433 | 11,900 | ||||||||
Europe [member] | |||||||||||
Revenues from External Customers and Long-Lived Assets [Line Items] | |||||||||||
Total revenues | 13,790 | 12,248 | 11,898 | ||||||||
China [member] | |||||||||||
Revenues from External Customers and Long-Lived Assets [Line Items] | |||||||||||
Total revenues | 10,312 | 12,556 | 11,029 | ||||||||
Middle East [member] | |||||||||||
Revenues from External Customers and Long-Lived Assets [Line Items] | |||||||||||
Total revenues | 13,297 | 10,846 | 9,243 | ||||||||
Oceania [member] | |||||||||||
Revenues from External Customers and Long-Lived Assets [Line Items] | |||||||||||
Total revenues | 1,843 | 2,601 | 1,757 | ||||||||
Canada [member] | |||||||||||
Revenues from External Customers and Long-Lived Assets [Line Items] | |||||||||||
Total revenues | 2,076 | 1,870 | 1,901 | ||||||||
Africa [member] | |||||||||||
Revenues from External Customers and Long-Lived Assets [Line Items] | |||||||||||
Total revenues | 1,999 | 1,398 | 2,596 | ||||||||
Latin America, Caribbean And Other [member] | |||||||||||
Revenues from External Customers and Long-Lived Assets [Line Items] | |||||||||||
Total revenues | 1,936 | 1,875 | 2,596 | ||||||||
United States [member] | |||||||||||
Revenues from External Customers and Long-Lived Assets [Line Items] | |||||||||||
Total revenues | $ 38,765 | $ 39,287 | $ 37,842 |
Segment Information (Schedul133
Segment Information (Schedule Of Depreciation And Amortization Expense By Segment) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Segment Reporting Information [Line Items] | |||
Depreciation and amortization | $ 1,910 | $ 1,833 | $ 1,906 |
Operating Segments [Member] | Commercial Airplanes [Member] | |||
Segment Reporting Information [Line Items] | |||
Depreciation and amortization | 682 | 625 | 674 |
Operating Segments [Member] | Defense, Space & Security [Member] | |||
Segment Reporting Information [Line Items] | |||
Depreciation and amortization | 292 | 328 | 353 |
Operating Segments [Member] | Defense, Space & Security [Member] | Boeing Military Aircraft [Member] | |||
Segment Reporting Information [Line Items] | |||
Depreciation and amortization | 113 | 142 | 164 |
Operating Segments [Member] | Defense, Space & Security [Member] | Network & Space Systems [Member] | |||
Segment Reporting Information [Line Items] | |||
Depreciation and amortization | 106 | 106 | 114 |
Operating Segments [Member] | Defense, Space & Security [Member] | Global Services & Support [Member] | |||
Segment Reporting Information [Line Items] | |||
Depreciation and amortization | 73 | 80 | 75 |
Operating Segments [Member] | Boeing Capital Corporation [Member] | |||
Segment Reporting Information [Line Items] | |||
Depreciation and amortization | 83 | 87 | 97 |
Unallocated items, eliminations and other [Member] | |||
Segment Reporting Information [Line Items] | |||
Depreciation and amortization | $ 853 | $ 793 | $ 782 |
Segment Information (Schedul134
Segment Information (Schedule Of Capital Expenditures By Segment) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Segment Reporting Information [Line Items] | |||
Capital expenditures | $ 2,613 | $ 2,450 | $ 2,236 |
Operating Segments [Member] | Commercial Airplanes [Member] | |||
Segment Reporting Information [Line Items] | |||
Capital expenditures | 993 | 889 | 698 |
Operating Segments [Member] | Defense, Space & Security [Member] | |||
Segment Reporting Information [Line Items] | |||
Capital expenditures | 336 | 288 | 336 |
Operating Segments [Member] | Defense, Space & Security [Member] | Boeing Military Aircraft [Member] | |||
Segment Reporting Information [Line Items] | |||
Capital expenditures | 161 | 128 | 175 |
Operating Segments [Member] | Defense, Space & Security [Member] | Network & Space Systems [Member] | |||
Segment Reporting Information [Line Items] | |||
Capital expenditures | 63 | 98 | 93 |
Operating Segments [Member] | Defense, Space & Security [Member] | Global Services & Support [Member] | |||
Segment Reporting Information [Line Items] | |||
Capital expenditures | 112 | 62 | 68 |
Unallocated items, eliminations and other [Member] | |||
Segment Reporting Information [Line Items] | |||
Capital expenditures | $ 1,284 | $ 1,273 | $ 1,202 |
Segment Information (Schedul135
Segment Information (Schedule of Intersegment Revenues, Eliminated In Unallocated Items and Eliminations) (Details) - USD ($) $ in Millions | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2015 | Sep. 30, 2015 | Jun. 30, 2015 | Mar. 31, 2015 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Segment Reporting Information [Line Items] | |||||||||||
Intersegment Revenues | $ 23,286 | $ 23,898 | $ 24,755 | $ 22,632 | $ 23,573 | $ 25,849 | $ 24,543 | $ 22,149 | $ 94,571 | $ 96,114 | $ 90,762 |
Intersegment Eliminations [Member] | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Intersegment Revenues | 2,158 | 1,846 | 1,841 | ||||||||
Commercial Airplanes [Member] | Intersegment Eliminations [Member] | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Intersegment Revenues | 2,142 | 1,831 | 1,822 | ||||||||
Boeing Capital Corporation [Member] | Intersegment Eliminations [Member] | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Intersegment Revenues | $ 16 | $ 15 | $ 19 |
Segment Information (Schedul136
Segment Information (Schedule Of Unallocated Items and Eliminations) (Details) - USD ($) $ in Millions | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2015 | Sep. 30, 2015 | Jun. 30, 2015 | Mar. 31, 2015 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Segment Reporting Information [Line Items] | |||||||||||
Share-based plans | $ (190) | $ (189) | $ (195) | ||||||||
Deferred compensation | (46) | (63) | (44) | ||||||||
Amortization of previously capitalized interest | (170) | (158) | (102) | ||||||||
Total | $ 2,183 | $ 2,282 | $ (419) | $ 1,788 | $ 1,161 | $ 2,580 | $ 1,683 | $ 2,019 | 5,834 | 7,443 | 7,473 |
Pension [Member] | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Pension and Postretirement | (1,979) | (2,366) | (3,215) | ||||||||
Postretirement [Member] | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Pension and Postretirement | (274) | (288) | (287) | ||||||||
Unallocated Items And Eliminations [Member] | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Share-based plans | (66) | (76) | (67) | ||||||||
Deferred compensation | (46) | (63) | (44) | ||||||||
Amortization of previously capitalized interest | (94) | (90) | (72) | ||||||||
Eliminations and other unallocated items | (527) | (511) | (593) | ||||||||
Operating Loss Excluding Unallocated Pension and Postretirement Adjustments | (733) | (740) | (776) | ||||||||
Pension and Postretirement | 370 | (298) | (1,387) | ||||||||
Total | (363) | (1,038) | (2,163) | ||||||||
Unallocated Items And Eliminations [Member] | Pension [Member] | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Pension and Postretirement | 217 | (421) | (1,469) | ||||||||
Unallocated Items And Eliminations [Member] | Postretirement [Member] | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Pension and Postretirement | $ 153 | $ 123 | $ 82 |
Segment Information (Reconcilia
Segment Information (Reconciliation of Assets from Segment to Consolidated) (Details) - USD ($) $ in Millions | Dec. 31, 2016 | Dec. 31, 2015 |
Segment Reporting Information [Line Items] | ||
Assets | $ 89,997 | $ 94,408 |
Operating Segments [Member] | Commercial Airplanes [Member] | ||
Segment Reporting Information [Line Items] | ||
Assets | 55,527 | 57,253 |
Operating Segments [Member] | Defense, Space & Security [Member] | ||
Segment Reporting Information [Line Items] | ||
Assets | 16,831 | 17,667 |
Operating Segments [Member] | Defense, Space & Security [Member] | Boeing Military Aircraft [Member] | ||
Segment Reporting Information [Line Items] | ||
Assets | 6,698 | 6,793 |
Operating Segments [Member] | Defense, Space & Security [Member] | Network & Space Systems [Member] | ||
Segment Reporting Information [Line Items] | ||
Assets | 6,113 | 6,307 |
Operating Segments [Member] | Defense, Space & Security [Member] | Global Services & Support [Member] | ||
Segment Reporting Information [Line Items] | ||
Assets | 4,020 | 4,567 |
Operating Segments [Member] | Boeing Capital Corporation [Member] | ||
Segment Reporting Information [Line Items] | ||
Assets | 4,139 | 3,492 |
Unallocated items, eliminations and other [Member] | ||
Segment Reporting Information [Line Items] | ||
Assets | $ 13,500 | $ 15,996 |
Quarterly Financial Data (Narra
Quarterly Financial Data (Narrative) (Details) - USD ($) $ / shares in Units, $ in Millions | 1 Months Ended | 3 Months Ended | 6 Months Ended | 12 Months Ended | ||||||||||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2015 | Jun. 30, 2015 | Jun. 30, 2014 | Dec. 31, 2015 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Schedule of Quarterly Financial Information [Line Items] | ||||||||||||||
Inventory Write-down | $ 1,235 | |||||||||||||
Increase/(Decrease) in Earnings from operations due to change in accounting estimate. | $ (912) | $ (224) | $ 100 | |||||||||||
Tax benefits related to reinstatement of research tax credit | $ 235 | |||||||||||||
Incremental tax benefit related to tax basis adjustment | $ 440 | $ 265 | ||||||||||||
Cash dividends declared, per share | $ 1.42 | $ 1.09 | $ 0.91 | $ 2.51 | $ 2.18 | $ 2 | $ 1.82 | $ 4.69 | $ 3.82 | $ 3.10 | ||||
Pension Plans [Member] | ||||||||||||||
Schedule of Quarterly Financial Information [Line Items] | ||||||||||||||
Defined Benefit Plan, Recognized Net Gain (Loss) Due to Settlements and Curtailments | $ (40) | $ (290) | $ (461) | |||||||||||
B747 aircraft [Member] | ||||||||||||||
Schedule of Quarterly Financial Information [Line Items] | ||||||||||||||
Reach-forward loss on commercial aircraft | $ (1,188) | $ (70) | $ (885) | |||||||||||
KC-46A Tanker [Member] | ||||||||||||||
Schedule of Quarterly Financial Information [Line Items] | ||||||||||||||
Increase/(Decrease) in Earnings from operations due to change in accounting estimate. | $ (312) | $ (573) | $ (243) | $ (835) | $ (1,128) | $ (835) | $ (425) | |||||||
Commercial Crew [Member] | ||||||||||||||
Schedule of Quarterly Financial Information [Line Items] | ||||||||||||||
Increase/(Decrease) in Earnings from operations due to change in accounting estimate. | (162) | |||||||||||||
Reach-Forward Loss [Member] | Commercial Crew [Member] | ||||||||||||||
Schedule of Quarterly Financial Information [Line Items] | ||||||||||||||
Increase/(Decrease) in Earnings from operations due to change in accounting estimate. | $ (38) |
Quarterly Financial Data (Sched
Quarterly Financial Data (Schedule Of Quarterly Financial Data) (Details) - USD ($) $ / shares in Units, $ in Millions | 1 Months Ended | 3 Months Ended | 12 Months Ended | |||||||||||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2015 | Sep. 30, 2015 | Jun. 30, 2015 | Mar. 31, 2015 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Schedule of Quarterly Financial Information [Line Items] | ||||||||||||||
Total revenues | $ 23,286 | $ 23,898 | $ 24,755 | $ 22,632 | $ 23,573 | $ 25,849 | $ 24,543 | $ 22,149 | $ 94,571 | $ 96,114 | $ 90,762 | |||
Total costs and expenses | (19,464) | (19,904) | (22,325) | (19,097) | (20,642) | (21,600) | (21,350) | (18,496) | (80,790) | (82,088) | (76,752) | |||
Earnings from operations | 2,183 | 2,282 | (419) | 1,788 | 1,161 | 2,580 | 1,683 | 2,019 | 5,834 | 7,443 | 7,473 | |||
Net earnings | $ 1,631 | $ 2,279 | $ (234) | $ 1,219 | $ 1,026 | $ 1,704 | $ 1,110 | $ 1,336 | $ 4,895 | $ 5,176 | $ 5,446 | |||
Basic earnings per share | $ 2.63 | $ 3.64 | $ (0.37) | $ 1.85 | $ 1.52 | $ 2.50 | $ 1.61 | $ 1.89 | $ 7.70 | $ 7.52 | $ 7.47 | |||
Diluted earnings per share | 2.59 | 3.60 | (0.37) | 1.83 | 1.51 | 2.47 | 1.59 | 1.87 | 7.61 | 7.44 | 7.38 | |||
Cash dividends declared, per share | $ 1.42 | $ 1.09 | $ 0.91 | 2.51 | 2.18 | 2 | 1.82 | 4.69 | 3.82 | $ 3.10 | ||||
Common stock sales price per share, Quarter end | $ 155.68 | $ 144.59 | 155.68 | 131.74 | 129.87 | 126.94 | 144.59 | 130.95 | 138.72 | 150.08 | $ 155.68 | $ 144.59 | ||
Maximum [Member] | ||||||||||||||
Schedule of Quarterly Financial Information [Line Items] | ||||||||||||||
Common stock sales price per share | 160.07 | 139.45 | 137.89 | 141.70 | 150.59 | 149.18 | 155.50 | 158.83 | ||||||
Minimum [Member] | ||||||||||||||
Schedule of Quarterly Financial Information [Line Items] | ||||||||||||||
Common stock sales price per share | $ 130.74 | $ 123.96 | $ 122.35 | $ 102.10 | $ 128.56 | $ 115.14 | $ 138.44 | $ 126.18 |