Document and Entity Information
Document and Entity Information - shares | 9 Months Ended | |
Sep. 30, 2019 | Oct. 16, 2019 | |
Document Information [Abstract] | ||
Document Type | 10-Q | |
Document Quarterly Report | true | |
Document Period End Date | Sep. 30, 2019 | |
Document Transition Report | false | |
Entity File Number | 1-442 | |
Entity Registrant Name | BOEING CO | |
Entity Incorporation, State or Country Code | DE | |
Entity Tax Identification Number | 91-0425694 | |
Entity Address, Address Line One | 100 N. Riverside Plaza, | |
Entity Address, City or Town | Chicago, | |
Entity Address, State or Province | IL | |
Entity Address, Postal Zip Code | 60606-1596 | |
City Area Code | (312) | |
Local Phone Number | 544-2000 | |
Entity Current Reporting Status | Yes | |
Entity Interactive Data Current | Yes | |
Entity Filer Category | Large Accelerated Filer | |
Entity Small Business | false | |
Entity Emerging Growth Company | false | |
Entity Shell Company | false | |
Title of 12(b) Security | Common Stock, $5.00 Par Value | |
Trading Symbol | BA | |
Security Exchange Name | NYSE | |
Entity Common Stock, Shares Outstanding | 562,791,233 | |
Amendment Flag | false | |
Document Fiscal Year Focus | 2019 | |
Document Fiscal Period Focus | Q3 | |
Entity Central Index Key | 0000012927 | |
Current Fiscal Year End Date | --12-31 |
Condensed Consolidated Statemen
Condensed Consolidated Statements Of Operations - USD ($) shares in Millions, $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | |
Condensed Income Statements, Captions [Line Items] | ||||
Revenues | $ 19,980 | $ 25,146 | $ 58,648 | $ 72,786 |
Boeing Capital interest expense | (15) | (18) | (49) | (51) |
Total costs and expenses | (16,930) | (21,040) | (53,385) | (59,400) |
Gross profit | 3,050 | 4,106 | 5,263 | 13,386 |
Income (Loss) from Investments | (8) | 32 | (3) | 112 |
General and administrative expense | (1,001) | (1,154) | (2,857) | (3,345) |
Research and development expense, net | (778) | (826) | (2,470) | (2,417) |
Gain/(loss) on dispositions, net | (4) | 69 | 296 | 76 |
Earnings from operations | 1,259 | 2,227 | 229 | 7,812 |
Other income | 121 | 12 | 334 | 63 |
Interest and debt expense | (203) | (106) | (480) | (317) |
Earnings before income taxes | 1,177 | 2,133 | 83 | 7,558 |
Income tax benefit/(expense) | (10) | 230 | 291 | (522) |
Net earnings | $ 1,167 | $ 2,363 | $ 374 | $ 7,036 |
Basic earnings per share | $ 2.07 | $ 4.11 | $ 0.66 | $ 12.08 |
Diluted earnings per share | $ 2.05 | $ 4.07 | $ 0.66 | $ 11.95 |
Weighted average diluted shares (millions) | 569.2 | 580.8 | 570.4 | 588.9 |
Product [Member] | ||||
Condensed Income Statements, Captions [Line Items] | ||||
Revenues | $ 17,195 | $ 22,463 | $ 50,514 | $ 64,848 |
Cost of Goods and Services Sold | (14,674) | (18,882) | (46,584) | (53,134) |
Service [Member] | ||||
Condensed Income Statements, Captions [Line Items] | ||||
Revenues | 2,785 | 2,683 | 8,134 | 7,938 |
Cost of Goods and Services Sold | $ (2,241) | $ (2,140) | $ (6,752) | $ (6,215) |
Condensed Consolidated Statem_2
Condensed Consolidated Statements of Comprehensive Income - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | |
Statement of Comprehensive Income [Abstract] | ||||
Net earnings | $ 1,167 | $ 2,363 | $ 374 | $ 7,036 |
Currency translation adjustments | (59) | 2 | (61) | (55) |
Unrealized gain/(loss) on certain investments, net of tax of $0, $0, ($1) and $0 | 1 | 3 | ||
Unrealized (loss)/gain on derivative instruments [Abstract] | ||||
Unrealized (loss)/gain arising during period, net of tax of $1, ($22), $27 and ($61) | (89) | (4) | (106) | (97) |
Reclassification adjustment for losses included in net earnings, net of tax of ($3), ($5), ($5) and ($24) | 25 | 9 | 22 | 19 |
Total unrealized (loss)/gain on derivative instruments, net of tax | (64) | 5 | (84) | (78) |
Defined benefit pension plans & other postretirement benefits [Abstract] | ||||
Amortization of prior service credits included in net periodic pension cost, net of tax of $10, $16, $30 and $47 | (22) | (35) | (67) | (106) |
Net actuarial gain arising during the period, net of tax of $0, $0, $0 and $0 | 1 | |||
Amortization of actuarial losses included in net periodic pension cost, net of tax of ($60), ($72), ($182) and ($217) | 117 | 219 | 350 | 657 |
Settlements and curtailments included in net income, net of tax of $0, ($3), $0 and $0 | 6 | |||
Pension and postretirement cost related to our equity method investments, net of tax of $0, $0, $1 and $1 | 9 | (1) | 17 | (4) |
Total defined benefit pension plans and other postretirement benefits, net of tax | 104 | 183 | 300 | 554 |
Other comprehensive income/(loss), net of tax | (19) | 190 | 156 | 424 |
Comprehensive loss related to noncontrolling interests | (15) | (2) | (22) | (12) |
Comprehensive income, net of tax | $ 1,133 | $ 2,551 | $ 508 | $ 7,448 |
Condensed Consolidated Statem_3
Condensed Consolidated Statements of Comprehensive Income (Parenthetical) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | |
Statement of Comprehensive Income [Abstract] | ||||
Other Comprehensive Income (Loss), Tax | $ (12) | $ (52) | $ (60) | $ (133) |
Other Comprehensive Income (Loss), Securities, Available-for-Sale, Unrealized Holding Gain (Loss) Arising During Period, Tax | (1) | |||
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), after Reclassification, Tax [Abstract] | ||||
Unrealized loss arising during period, tax | 25 | 1 | 30 | 27 |
Reclassification adjustment for losses included in net earnings, tax | (7) | (3) | (6) | (5) |
Other Comprehensive Income (Loss), Pension and Other Postretirement Benefit Plans, Tax, Portion Attributable to Parent [Abstract] | ||||
Amortization of prior service cost included in net periodic pension cost, tax | 5 | 10 | 18 | 30 |
Amortization of actuarial losses included in net periodic pension cost, tax | (32) | $ (60) | (97) | (182) |
Other Comprehensive Income, Settlements and curtailments included in net income, tax | (3) | |||
Pension and post retirement benefits related to our equity method investments, tax | $ (3) | $ (5) | $ 1 | |
Common Stock, Dividends, Per Share, Declared | $ 4.11 | $ 3.42 |
Condensed Consolidated Statem_4
Condensed Consolidated Statements Of Financial Position - USD ($) $ in Millions | Sep. 30, 2019 | Dec. 31, 2018 | |
Assets | |||
Cash and cash equivalents | $ 9,763 | $ 7,637 | |
Short-term and other investments | 1,150 | 927 | |
Accounts receivable, net | 3,564 | 3,879 | |
Unbilled receivables, net | 11,078 | 10,025 | |
Current portion of customer financing, net | 166 | 460 | |
Inventories | 73,279 | 62,567 | |
Other current assets | 2,656 | 2,335 | |
Total current assets | 101,656 | 87,830 | |
Customer financing, net | 2,077 | 2,418 | |
Property, plant and equipment, net of accumulated depreciation of $19,125 and $18,568 | 12,527 | 12,645 | |
Goodwill | 8,063 | 7,840 | |
Acquired intangible assets, net | 3,587 | 3,429 | |
Deferred income taxes | 296 | 284 | |
Investments | 1,117 | 1,087 | |
Other assets, net of accumulated amortization of $561 and $503 | 3,275 | 1,826 | |
Total assets | 132,598 | 117,359 | |
Liabilities and equity | |||
Accounts payable | 15,101 | 12,916 | |
Accrued liabilities | 19,224 | 14,808 | |
Advances and progress billings | 53,167 | 50,676 | |
Short-term debt and current portion of long-term debt | 4,354 | 3,190 | |
Total current liabilities | 91,846 | 81,590 | |
Deferred income taxes | 1,615 | 1,736 | |
Accrued retiree health care | 4,437 | 4,584 | |
Accrued pension plan liability, net | 14,590 | 15,323 | |
Other long-term liabilities | 3,621 | 3,059 | |
Long-term debt | 20,298 | 10,657 | |
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 | 6,688 | 6,768 | |
Treasury stock, at cost - 449,472,403 and 444,619,970 shares | 54,924 | 52,348 | |
Retained earnings | 53,986 | 55,941 | |
Accumulated other comprehensive loss | [1] | (14,927) | (15,083) |
Total shareholders’ equity | (4,116) | 339 | |
Noncontrolling interests | 307 | 71 | |
Total equity | (3,809) | 410 | |
Total liabilities and equity | $ 132,598 | $ 117,359 | |
[1] | Net of tax. |
Condensed Consolidated Statem_5
Condensed Consolidated Statements Of Financial Position (Parenthetical) - USD ($) $ in Millions | Sep. 30, 2019 | Dec. 31, 2018 |
Statement of Financial Position [Abstract] | ||
Property, plant and equipment, accumulated depreciation | $ 19,125 | $ 18,568 |
Other assets, accumulated amortization | $ 561 | $ 503 |
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 |
Treasury stock, shares | 449,472,403 | 444,619,970 |
Condensed Consolidated Statem_6
Condensed 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] |
Balance at Dec. 31, 2017 | $ 1,713 | $ 5,061 | $ 6,804 | $ (43,454) | $ 49,618 | $ (16,373) | $ 57 |
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest | 7,024 | 7,036 | (12) | ||||
Other comprehensive income, net of tax of ($133) in 2018 and ($255) in 2017 | 424 | 424 | |||||
Share-based compensation and related dividend equivalents | 150 | 167 | (17) | ||||
Treasury shares issued for stock options exercised, net | 70 | (37) | 107 | ||||
Treasury shares issued for other share-based plans, net | (239) | (220) | (19) | ||||
Common shares repurchased | (8,415) | (8,415) | |||||
Dividends, Common Stock, Cash | (1,971) | (1,971) | |||||
Changes in noncontrolling interests | 35 | 35 | |||||
Balance at Sep. 30, 2018 | (1,209) | 5,061 | 6,714 | (51,781) | 54,666 | (15,949) | 80 |
Balance at Jun. 30, 2018 | (1,374) | 5,061 | 6,676 | (49,342) | 52,303 | (16,139) | 67 |
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest | 2,361 | 2,363 | (2) | ||||
Other comprehensive income, net of tax of ($133) in 2018 and ($255) in 2017 | 190 | 190 | |||||
Share-based compensation and related dividend equivalents | 52 | 52 | |||||
Treasury shares issued for stock options exercised, net | 7 | (5) | 12 | ||||
Treasury shares issued for other share-based plans, net | (10) | (9) | (1) | ||||
Common shares repurchased | (2,450) | (2,450) | |||||
Changes in noncontrolling interests | 15 | 15 | |||||
Balance at Sep. 30, 2018 | (1,209) | 5,061 | 6,714 | (51,781) | 54,666 | (15,949) | 80 |
Balance at Dec. 31, 2018 | 410 | 5,061 | 6,768 | (52,348) | 55,941 | (15,083) | 71 |
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest | 352 | 374 | (22) | ||||
Other comprehensive income, net of tax of ($133) in 2018 and ($255) in 2017 | 156 | 156 | |||||
Share-based compensation and related dividend equivalents | 160 | 176 | (16) | ||||
Treasury shares issued for stock options exercised, net | 40 | (42) | 82 | ||||
Treasury shares issued for other share-based plans, net | (221) | (214) | (7) | ||||
Common shares repurchased | (2,651) | (2,651) | |||||
Dividends, Common Stock, Cash | (2,313) | (2,313) | |||||
Changes in noncontrolling interests | 258 | 258 | |||||
Balance at Sep. 30, 2019 | (3,809) | 5,061 | 6,688 | (54,924) | 53,986 | (14,927) | 307 |
Balance at Jun. 30, 2019 | (4,943) | 5,061 | 6,638 | (54,932) | 52,819 | (14,908) | 379 |
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest | 1,152 | 1,167 | (15) | ||||
Other comprehensive income, net of tax of ($133) in 2018 and ($255) in 2017 | (19) | (19) | |||||
Share-based compensation and related dividend equivalents | 56 | 56 | |||||
Treasury shares issued for stock options exercised, net | (3) | (3) | |||||
Treasury shares issued for other share-based plans, net | 5 | (3) | 8 | ||||
Changes in noncontrolling interests | (57) | (57) | |||||
Balance at Sep. 30, 2019 | $ (3,809) | $ 5,061 | $ 6,688 | $ (54,924) | $ 53,986 | $ (14,927) | $ 307 |
Condensed Consolidated Statem_7
Condensed Consolidated Statements Of Equity (Parenthetical) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | |
Statement of Stockholders' Equity [Abstract] | ||||
Other Comprehensive Income, tax, portion attrib to parent | $ 12 | $ 52 | $ 60 | $ 133 |
Common Stock, Dividends, Per Share, Declared | $ 4.11 | $ 3.42 |
Condensed Consolidated Statem_8
Condensed Consolidated Statement of Cash Flows Consolidated Statements of Cash Flows - USD ($) $ in Millions | 9 Months Ended | ||
Sep. 30, 2019 | Sep. 30, 2018 | ||
Cash flows - operation activities: | |||
Net earnings | $ 374 | $ 7,036 | |
Non-cash items - | |||
Share-based plans expense | 160 | 150 | |
Depreciation and amortization | 1,643 | 1,531 | |
Asset Impairment Charges | 106 | 63 | |
Customer financing valuation adjustments | 249 | (3) | |
Gain on dispositions, net | (296) | (76) | |
Other charges and credits, net | 190 | 158 | |
Changes in assets and liabilities - | |||
Accounts receivable | 315 | 10 | |
Unbilled receivables | (1,053) | (1,732) | |
Advances and progress billings | 2,355 | 3,457 | |
Inventories | 9,565 | 173 | |
Other current assets | (224) | (5) | |
Accounts payable | 1,626 | 1,181 | |
Accrued liabilities | 5,495 | 890 | |
Income taxes receivable, payable and deferred | (989) | (252) | |
Other long-term liabilities | (577) | 1 | |
Pension and other postretirement plans | (570) | (89) | |
Customer financing, net | 391 | (175) | |
Other | 144 | 403 | |
Net cash (used)/provided by operating activities | (226) | 12,375 | |
Cash flows - investing activities: | |||
Property, plant and equipment additions | (1,387) | (1,227) | |
Property, plant and equipment reductions | 334 | 117 | |
Acquisitions, net of cash acquired | (492) | (250) | |
Contributions to investments | (1,439) | (2,145) | |
Proceeds from investments | 967 | 1,369 | |
Purchase of distribution rights | (20) | (56) | |
Other | (10) | (5) | |
Net cash used by investing activities | (2,047) | (2,197) | |
Cash flows - financing activities: | |||
New borrowings | 19,621 | 4,696 | |
Debt repayments | (8,978) | (4,029) | |
Contributions from noncontrolling interests | 7 | 35 | |
Stock options exercised | 51 | 70 | |
Employee taxes on certain share-based payment arrangements | (241) | (247) | |
Common shares repurchased | (2,651) | (8,415) | |
Dividends paid | (3,473) | (2,976) | |
Net cash provided/(used) by financing activities | 4,336 | (10,866) | |
Effect of exchange rate changes on cash and cash equivalents, including restricted | (27) | (37) | |
Net increase/(decrease) in cash & cash equivalents, including restricted | 2,036 | (725) | |
Cash & cash equivalents, including restricted, at beginning of year | 7,813 | 8,887 | |
Cash & cash equivalents, including restricted, at end of period | 9,849 | 8,162 | |
Restricted Cash and Cash Equivalents | [1] | (86) | (128) |
Cash and cash equivalents at end of period | $ 9,763 | $ 8,034 | |
[1] | Reflects amounts restricted in support of our workers’ compensation programs, employee benefit programs, and insurance premiums. |
Summary Of Business Segment Dat
Summary Of Business Segment Data Summary of Business Segment Data (Notes) | 9 Months Ended |
Sep. 30, 2019 | |
Segment Reporting, Disclosure of Entity's Reportable Segments [Abstract] | |
Summary Of Business Segment Data | The Boeing Company and Subsidiaries Notes to Condensed Consolidated Financial Statements Summary of Business Segment Data (Unaudited) (Dollars in millions) Nine months ended September 30 Three months ended September 30 2019 2018 2019 2018 Revenues: Commercial Airplanes $24,793 $40,968 $8,249 $14,071 Defense, Space & Security 20,265 19,518 7,042 6,937 Global Services 13,820 12,148 4,658 4,101 Boeing Capital 207 214 66 77 Unallocated items, eliminations and other (437 ) (62 ) (35 ) (40 ) Total revenues $58,648 $72,786 $19,980 $25,146 (Loss)/earnings from operations: Commercial Airplanes ($3,813 ) $5,230 ($40 ) $2,033 Defense, Space & Security 2,577 886 755 (247 ) Global Services 2,013 1,799 673 548 Boeing Capital 86 71 29 27 Segment operating profit 863 7,986 1,417 2,361 Unallocated items, eliminations and other (1,727 ) (1,193 ) (522 ) (471 ) FAS/CAS service cost adjustment 1,093 1,019 364 337 Earnings from operations 229 7,812 1,259 2,227 Other income 334 63 121 12 Interest and debt expense (480 ) (317 ) (203 ) (106 ) Earnings before income taxes 83 7,558 1,177 2,133 Income tax benefit/(expense) 291 (522 ) (10 ) 230 Net earnings $374 $7,036 $1,167 $2,363 This information is an integral part of the Notes to the Condensed Consolidated Financial Statements. See Note 20 for further segment results. |
Basis Of Presentation
Basis Of Presentation | 9 Months Ended |
Sep. 30, 2019 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Basis Of Presentation | Basis of Presentation The condensed consolidated interim 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”). In the opinion of management, all adjustments (consisting of normal recurring accruals) necessary for a fair presentation are reflected in the interim financial statements. The results of operations for the period ended September 30, 2019 are not necessarily indicative of the operating results for the full year. The interim financial statements should be read in conjunction with the audited Consolidated Financial Statements, including the notes thereto, included in our 2018 Annual Report on Form 10-K. Certain amounts in prior periods have been adjusted to conform with the current year presentation. Standards Issued and Implemented In the first quarter of 2019, we adopted Accounting Standards Update (ASU) 2016-02, Leases (Topic 842) and recognized on our Condensed Consolidated Statement of Financial Position $1,064 of lease liabilities with corresponding right-of-use assets for operating leases. Our accounting for finance leases and lessor contracts remains substantially unchanged. The standard has no impact to cash provided or used by operating, investing, or financing activities on our Condensed Consolidated Statements of Cash Flows. As permitted under the standard, we elected prospective application of the new guidance and prior periods continue to be presented in accordance with Topic 840. Refer to our 2018 Annual Report on Form 10-K for disclosures required by Topic 840. We also elected the package of practical expedients, which among other things, does not require reassessment of lease classification. In the first quarter of 2019, we adopted ASU 2017-12, Derivatives and Hedging (Topic 815), using the modified retrospective method. The standard refines and simplifies hedge accounting requirements for both financial and commodity risks. The impact of the adoption was not material. See Note 17 for additional disclosures. Significant Accounting Policies - Update Our significant accounting policies are described in "Note 1: Summary of Significant Accounting Policies" of our Annual Report on Form 10-K for the year ended December 31, 2018 . Our updated significant accounting policies described below reflect the impact of adopting Topic 842. Leases We determine if an arrangement is, or contains, a lease at the inception date. Operating leases are included in Other assets, with the related liabilities included in Accrued liabilities and Other long-term liabilities. Assets under finance leases are included in Property, plant and equipment, net, with the related liabilities included in Short-term debt and current portion of long-term debt and Long-term debt on the Condensed Consolidated Statements of Financial Position. Operating lease assets represent our right to use an underlying asset for the lease term and lease liabilities represent our obligation to make lease payments arising from the lease. Operating lease assets and liabilities are recognized at the lease commencement date based on the estimated present value of lease payments over the lease term. We use our estimated incremental borrowing rate in determining the present value of lease payments. Variable components of the lease payments such as fair market value adjustments, utilities, and maintenance costs are expensed as incurred and not included in determining the present value. Our lease terms include options to extend or terminate the lease when it is reasonably certain that we will exercise that option. Lease expense is recognized on a straight-line basis over the lease term. We have lease agreements with lease and non-lease components which are accounted for as a single lease component. Use of Estimates The preparation of financial statements in conformity with U.S. generally accepted accounting principles (GAAP) requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. 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 long-term contract’s percentage-of-completion. When the current estimates of total sales and costs for a long-term contract indicate a loss, a provision for the entire reach-forward loss on the long-term contract is recognized. Net cumulative catch-up adjustments to prior years' revenue and earnings, including certain reach-forward losses, across all long-term contracts were as follows: (In millions - except per share amounts) Nine months ended September 30 Three months ended September 30 2019 2018 2019 2018 Increase/(decrease) to Revenue $166 ($14 ) ($63 ) ($59 ) Increase/(decrease) to Earnings from Operations $152 ($314 ) ($23 ) ($155 ) Increase/(decrease) to Diluted EPS $1.20 ($0.50 ) ($0.04 ) ($0.30 ) |
Acquisitions and Joint Ventures
Acquisitions and Joint Ventures Acquistions and Joint Ventures | 9 Months Ended |
Sep. 30, 2019 | |
Acquisitions and Joint Ventures [Abstract] | |
Acquisitions and Joint Ventures | Acquisitions and Joint Ventures Strategic Partnership with Embraer During the first quarter of 2019, we entered into definitive transaction documents with respect to a strategic partnership with Embraer S.A. (Embraer). The partnership contemplates that the parties enter into a joint venture comprising the commercial aircraft and services operations of Embraer, in which Boeing will acquire an 80 percent ownership stake for $4,200 , as well as a joint venture to promote and develop new markets for the multi-mission medium airlift KC-390, in which Boeing will hold a 49 percent ownership stake. Embraer shareholders approved the transaction, which remains subject to regulatory approvals and other customary closing conditions. We are actively engaged with authorities in relevant jurisdictions and have obtained a number of regulatory approvals, including clearance to close in the United States. In October 2019, the European Commission commenced a Phase II investigation in connection with its regulatory review of the transaction, and the transaction is now expected to close in early 2020. If the transaction is not completed due to failure to obtain antitrust approvals, we would be required to pay a termination fee of $100 . |
Income Taxes
Income Taxes | 9 Months Ended |
Sep. 30, 2019 | |
Income Tax Disclosure [Abstract] | |
Income Taxes | Income Taxes Our effective income tax rates were (350.6)% and 0.8% for the nine and three months ended September 30, 2019 and 6.9% and (10.8)% for the same periods in the prior year. The tax rates in 2019 and 2018 reflect the U.S. federal tax rate of 21% reduced by tax benefits associated with intangible income derived from serving non-U.S. markets, research and development tax credits and excess tax benefits related to share-based payments. Additionally, in the third quarter of 2018, $412 of discrete tax benefits were recorded related to the settlement of the 2013-2014 federal tax audit. The year to date tax rate variance is primarily due to lower pre-tax income in 2019, resulting in larger 2019 discrete tax rate benefits. Federal income tax audits have been settled for all years prior to 2015. The Internal Revenue Service (IRS) began the 2015-2017 federal tax audit in the first quarter of 2019. We are also subject to examination in major state and international jurisdictions for the 2001-2017 tax years. We believe appropriate provisions for all outstanding tax issues have been made for all jurisdictions and all open years. Audit outcomes and the timing of audit settlements are subject to significant uncertainty. It is reasonably possible that within the next 12 months unrecognized tax benefits related to state matters under audit may decrease by up to $480 based on current estimates. |
Inventories
Inventories | 9 Months Ended |
Sep. 30, 2019 | |
Inventory Disclosure [Abstract] | |
Inventories | Inventories Inventories consisted of the following: September 30 December 31 Long-term contracts in progress $966 $2,129 Commercial aircraft programs 63,518 52,753 Commercial spare parts, used aircraft, general stock materials and other 8,795 7,685 Total $73,279 $62,567 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. The inventory balance was $176 and $227 at September 30, 2019 and December 31, 2018 . See indemnifications to ULA in Note 12 . Included in inventories are capitalized precontract costs of $679 at September 30, 2019 primarily related to the KC-46A Tanker and Commercial Crew and $644 at December 31, 2018 primarily related to the KC-46A Tanker. See Note 11 . Commercial Aircraft Programs At September 30, 2019 and December 31, 2018 , commercial aircraft programs inventory included the following amounts related to the 787 program: $26,593 and $27,852 of work in process (including deferred production costs of $19,825 and $22,967 ), $2,273 and $2,453 of supplier advances, and $2,215 and $2,638 of unamortized tooling and other non-recurring costs. At September 30, 2019 , $14,454 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 $7,586 is expected to be recovered from units included in the program accounting quantity that represent expected future orders. At September 30, 2019 and December 31, 2018 , commercial aircraft programs inventory included $1,481 and $463 of deferred production costs and $522 and $471 of unamortized tooling and other non-recurring costs related to the 737 program. At September 30, 2019 , $1,999 of 737 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 $4 is expected to be recovered from units included in the program accounting quantity that represent expected future orders. Commercial aircraft programs inventory included amounts credited in cash or other consideration (early issue sales consideration) to airline customers totaling $2,767 and $2,844 at September 30, 2019 and December 31, 2018 . |
Contracts with Customers Contra
Contracts with Customers Contracts with Customers | 9 Months Ended |
Sep. 30, 2019 | |
Revenue from Contract with Customer [Abstract] | |
Long-term Contracts or Programs Disclosure [Text Block] | Contracts with Customers Unbilled receivables increased from $10,025 at December 31, 2018 to $11,078 at September 30, 2019 , primarily driven by revenue recognized at BDS and BGS in excess of billings . Advances and progress billings increased from $50,676 at December 31, 2018 to $53,167 at September 30, 2019 , primarily driven by advances on orders received in excess of revenue recognized at BCA, BDS and BGS. Revenues recognized during the nine months ended September 30, 2019 and 2018 from amounts recorded as Advances and progress billings at the beginning of each year were $13,216 and $19,006 . Revenues recognized during the three months ended September 30, 2019 and 2018 from amounts recorded as Advances and progress billings at the beginning of each year were $3,100 and $6,249 . Certain commercial airplane customers are experiencing liquidity issues and seeking additional capital. Should these customers fail to address their liquidity issues, accounts receivable, unbilled receivables and certain inventory could become impaired. In addition we would have to remove contracts related to these customers from backlog and remarket any undelivered aircraft. |
Customer Financing
Customer Financing | 9 Months Ended |
Sep. 30, 2019 | |
Customer Financing [Abstract] | |
Customer Financing | Customer Financing Customer financing primarily relates to the Boeing Capital ( BCC ) segment and consisted of the following: September 30 December 31 Financing receivables: Investment in sales-type/finance leases $1,016 $1,125 Notes 446 730 Total financing receivables 1,462 1,855 Operating lease equipment, at cost, less accumulated depreciation of $245 and $203 789 782 Operative lease incentive 250 Gross customer financing 2,251 2,887 Less allowance for losses on receivables (8 ) (9 ) Total $2,243 $2,878 We acquire aircraft to be leased to customers through trades, lease returns, purchases in the secondary market, and new aircraft transferred from our Commercial Airplanes segment. Leasing arrangements typically range in terms from 1 to 12 years and may include options to extend or terminate the lease. Certain leases include provisions to allow the lessee to purchase the underlying aircraft at a specified price. A minority of leases contain variable lease payments based on actual aircraft usage and are paid in arrears. 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 September 30, 2019 and December 31, 2018 , we individually evaluated for impairment customer financing receivables of $401 and $409 , of which $388 and $398 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. 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 by internal credit rating category are shown below: Rating categories September 30 December 31 BBB $594 $883 BB 348 430 B 125 135 CCC 395 407 Total carrying value of financing receivables $1,462 $1,855 At September 30, 2019 , our allowance related to receivables with ratings of B, BB and BBB. We applied default rates that averaged 22.1% , 5.8% and 0.6% , respectively, 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 out-of-production aircraft and 747-8 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: September 30 December 31 717 Aircraft ($184 and $204 accounted for as operating leases) $778 $918 747-8 Aircraft ($130 and $132 accounted for as operating leases) 474 477 737 Aircraft ($243 and $263 accounted for as operating leases) 266 290 757 Aircraft ($22 and $24 accounted for as operating leases) 186 200 MD-80 Aircraft (accounted for as sales-type finance leases) 184 204 777 Aircraft ($126 and $60 accounted for as operating leases) 131 68 747-400 Aircraft ($33 and $45 accounted for as operating leases) 95 116 As part of selected lease transactions, Boeing may provide incentives to commercial customers. At December 31, 2018 , Customer Financing included $250 of lease incentives with one customer experiencing liquidity issues. In the first quarter of 2019, we concluded that these lease incentives were impaired and recorded a charge of $250 . Lease income recorded in Revenue on the Condensed Consolidated Statements of Operations for the nine and three months ended September 30, 2019 included $47 and $15 from sales-type/finance leases and $105 and $34 from operating leases, of which $14 and $6 related to variable operating lease payments. As of September 30, 2019 , undiscounted cash flows for sales-type/finance and operating leases over the next five years and thereafter are as follows: Sales-type/finance leases Operating leases Year 1 $179 $118 Year 2 134 93 Year 3 97 83 Year 4 109 61 Year 5 121 46 Thereafter 140 57 Total lease receipts 780 458 Less imputed interest (167 ) Estimated unguaranteed residual values 403 Total $1,016 $458 At September 30, 2019 and December 31, 2018 unguaranteed residual values were $403 and $425 . Guaranteed residual values at September 30, 2019 |
Investments
Investments | 9 Months Ended |
Sep. 30, 2019 | |
Investments [Abstract] | |
Investments | Our investments, which are recorded in Short-term and other investments or Investments, consisted of the following: September 30 December 31 Equity method investments (1) $1,079 $1,048 Time deposits 529 255 Available for sale debt instruments 530 491 Equity and other investments 43 44 Restricted cash & cash equivalents (2) 86 176 Total $2,267 $2,014 (1) Dividends received were $153 and $60 for the nine and three months ended September 30, 2019 and $222 and $79 during the same periods in the prior year. (2) Reflects amounts restricted in support of our workers’ compensation programs, employee benefit programs, and insurance premiums. |
Other Assets
Other Assets | 9 Months Ended |
Sep. 30, 2019 | |
Other Assets [Abstract] | |
Other Assets | Other Assets Sea Launch At September 30, 2019 and December 31, 2018 , Other assets included $244 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. At September 30, 2019 , the net amounts owed to Boeing by each of the partners were as follows: S.P. Koroley Rocket and Space Corporation Energia of Russia (RSC Energia) – $111 , PO Yuzhnoye Mashinostroitelny Zavod of Ukraine – $89 and KB Yuzhnoye of Ukraine – $44 . In 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. In 2016, the United States District Court for the Central District of California issued a judgment in favor of Boeing. Later that year, we reached an agreement which we believe will enable us to recover the outstanding receivable balance from RSC Energia over the next several years. We continue to pursue collection efforts against the former Ukrainian partners in connection with the court judgment. We 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 RSC Energia and the Ukrainian Sea Launch partners, we could incur additional charges. |
Leases Leases
Leases Leases | 9 Months Ended |
Sep. 30, 2019 | |
Leases [Abstract] | |
Operating Lease, Lease Income [Table Text Block] | Leases Our operating lease assets primarily represent manufacturing and research and development facilities, warehouses, and offices. Our finance leases primarily represent computer equipment and are not significant. Total operating lease expense was $241 and $82 for nine and three months ended September 30, 2019 , of which $40 and $15 was attributable to variable lease expenses. For the nine and three months ended September 30, 2019 cash payments against operating lease liabilities totaled $205 and $70 and non-cash transactions totaled $315 and $177 to recognize operating assets and liabilities for new leases. Supplemental Condensed Consolidated Statement of Financial Position information related to leases was as follows: September 30 Operating leases: Operating lease right-of-use assets $1,178 Current portion of lease liabilities 260 Non-current portion of lease liabilities 969 Total operating lease liabilities $1,229 Weighted average remaining lease term (years) 9 Weighted average discount rate 3.07 % Maturities of lease liabilities were as follows: Operating leases Year 1 $292 Year 2 238 Year 3 190 Year 4 153 Year 5 93 Thereafter 598 Total lease payments 1,564 Less imputed interest (335 ) Total $1,229 As of September 30, 2019 , we have entered into an operating lease that has not yet commenced of $160 , primarily related to research and development and manufacturing facilities. This lease will commence in 2020 with a lease term of 15 years. |
Commitments And Contingencies
Commitments And Contingencies | 9 Months Ended |
Sep. 30, 2019 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments And Contingencies | Commitments and Contingencies 737 MAX Grounding On March 13, 2019, the Federal Aviation Administration (FAA) issued an order to suspend operations of all 737 MAX aircraft in the U.S. and by U.S. aircraft operators following two fatal 737 MAX accidents. Non-U.S. civil aviation authorities have issued directives to the same effect. We are working closely with the relevant government authorities to support both accident investigations. We are also fully cooperating with other U.S. government investigations related to the accidents. While production continues on the 737 MAX, deliveries have been suspended until clearance is granted by the appropriate regulatory authorities. We have developed software and training updates for the 737 MAX and continue to work with the FAA and non-U.S. civil aviation authorities to complete remaining steps toward certification and readiness for return to service including addressing their questions on the software changes and how pilots will interact with the airplane controls and displays in different flight scenarios. The FAA and other civil aviation authorities worldwide will determine the timing and conditions of return to service in each relevant jurisdiction. Charges recognized during 2019 associated with the software updates and related pilot training were not material. Prior to the grounding, Boeing had delivered 387 737 MAX aircraft of which 57 were delivered in the first quarter of 2019. On April 5, 2019, we announced plans to reduce the 737 production rate from 52 aircraft per month to 42 per month effective April 15, 2019. The resulting impacts, which were reflected in the first quarter, increased costs to produce aircraft included in the current accounting quantity by $1,016 . Estimated costs to produce aircraft included in the current accounting quantity increased by $1,748 during the second quarter of 2019 and $872 during the third quarter of 2019, primarily to reflect updates to assumptions regarding timing of return to service and timing of planned production rate increases. These increases in the costs to produce aircraft in the current accounting quantity will reduce 737 program and overall BCA segment operating margins in future quarters after deliveries resume. Prior to the grounding, we expected 737 MAX deliveries to approximate 90 percent of total 737 deliveries in 2019 and we had planned to increase the production rate to 57 per month in 2019. In addition to the grounding, the timing of 737 MAX deliveries during the first quarter was adversely affected by delays in the supply chain. We may face additional costs, delays in return to service, and/or further reductions in the production rate. We are continuing to produce at 42 aircraft per month and we will continue to evaluate potential future reductions in the production rate, including a temporary shutdown in 737 production. For example, significant additional regulatory requirements and/or delays in return to service beyond our current assumption could cause customers to cancel or defer orders, which could also cause us to reduce or temporarily cease 737 MAX production. The grounding has reduced revenues, operating earnings and cash flows in 2019 and will continue to adversely affect our results until deliveries resume and production rates increase. We are also working with our customers to minimize the impact to their operations. In the second quarter, we recorded an earnings charge of $5,610 , net of insurance recoveries of $500 , in connection with estimated potential concessions and other considerations to customers for disruptions related to the 737 MAX grounding and associated delivery delays. This charge is reflected in the financial statements as a reduction in revenue, an increase in Other current assets and an increase in Accrued liabilities. During the third quarter of 2019, we collected the anticipated $500 from our insurance carriers and reduced the liability of $6,110 by $252 for payments, concessions and other in-kind considerations agreed to with customers. In addition, we reassessed the liability for estimated potential concessions and other considerations to customers. This reassessment included updating estimates to reflect revised return to service and production rate assumptions, as well as latest information based on engagements with 737 MAX customers. Based on this reassessment, we concluded that no significant adjustments to the recorded liability were required in the third quarter. The liability represents our best estimate of future concessions and other considerations to customers, and is necessarily based on a series of assumptions. While the FAA and other non-U.S. civil aviation authorities will determine the timing and conditions of return to service, we have assumed that regulatory approval of 737 MAX return to service begins in the fourth quarter of 2019. This assumption reflects our best estimate at this time, but actual timing and conditions of return to service could differ from this estimate, the effect of which could be material. In addition, we have assumed that we will gradually increase the 737 production rate from 42 per month to 57 per month by late 2020. Following return to service we expect the 737 MAX airplanes produced during the grounding and included within inventory will be delivered over several quarters with the majority of them delivering in the first year. We are unable at this time to reasonably estimate potential future additional financial impacts or a range of loss, if any, due to continued uncertainties related to the timing and conditions of return to service, future changes to the production rate, supply chain impacts or the results of negotiations with particular customers. Any such impacts, including any changes in our estimates, could have a material adverse effect on our financial position, results of operations, and/or cash flows. For example, we expect that, in the event that we are unable to resume aircraft deliveries consistent with our assumptions, the continued absence of revenue, earnings, and cash flows associated with 737 MAX deliveries would continue to have the most material impact on our operating results. In the event that we decide to further reduce the 737 production rate or temporarily cease production, we expect that the growth in inventory and other cash flow impacts associated with production would decrease. However, while any such reduction or cessation of production could mitigate the impact of continued production on our liquidity it could significantly increase the overall expected costs to produce aircraft included in the accounting quantity, which would reduce 737 program margins in the future. 737NG Structure (Pickle Fork) During the third quarter of 2019, we detected cracks in the "pickle forks," a component of the structure connecting the wings to the fuselages, of three 737-800NGs we were converting into freighters. We notified the FAA, which issued a directive requiring that 737NG airplanes with over 30,000 flight cycles be inspected for this condition by October 10, 2019, and that airplanes with over 22,600 flight cycles be inspected over the next 1,000 flight cycles. To date, all airplanes with over 30,000 flight cycles and approximately one third of planes with over 22,600 flights cycles have been inspected and this condition has been found on a small percentage of aircraft, and those aircraft will be repaired. Additional assessments are underway to determine the cause and potential implications of this condition for airplanes with fewer than 22,600 flight cycles. Depending on the results of these assessments, additional inspections or repairs may be required. Charges recognized in the third quarter in connection with estimated repair costs for aircraft with over 22,600 flight cycles were not material. However, we cannot reasonably estimate potential future financial impacts, if any, due to the ongoing nature of the inspections and repairs and pending the completion of investigations into the cause of the condition. Environmental The following table summarizes environmental remediation activity during the nine months ended September 30, 2019 and 2018 . 2019 2018 Beginning balance – January 1 $555 $524 Reductions for payments made (34 ) (17 ) Changes in estimates 61 61 Ending balance – September 30 $582 $568 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 September 30, 2019 and December 31, 2018 , the high end of the estimated range of reasonably possible remediation costs exceeded our recorded liabilities by $1,064 and $796 . Product Warranties The following table summarizes product warranty activity recorded during the nine months ended September 30, 2019 and 2018 . 2019 2018 Beginning balance – January 1 $1,127 $1,211 Additions for current year deliveries 128 176 Reductions for payments made (166 ) (135 ) Changes in estimates (7 ) (151 ) Ending balance – September 30 $1,082 $1,101 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 September 30, 2019 have expiration dates from 2019 through 2026 . At September 30, 2019 , and December 31, 2018 total contractual trade-in commitments were $1,421 and $1,519 . As of September 30, 2019 and December 31, 2018 , we estimated that it was probable we would be obligated to perform on certain of these commitments with net amounts payable to customers totaling $723 and $522 and the fair value of the related trade-in aircraft was $690 and $485 . Financing Commitments Financing commitments related to aircraft on order, including options and those proposed in sales campaigns, and refinancing of delivered aircraft, totaled $15,607 and $19,462 as of September 30, 2019 and December 31, 2018 . The estimated earliest potential funding dates for these commitments as of September 30, 2019 are as follows: Total October through December 2019 $560 2020 3,104 2021 2,989 2022 1,348 2023 2,169 Thereafter 5,437 $15,607 As of September 30, 2019 , $15,452 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. Funding Commitments We have commitments to make additional capital contributions of $246 to joint ventures over the next eight years. 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 $3,598 and $3,761 as of September 30, 2019 and December 31, 2018 . United States Government Defense Environment Overview The Bipartisan Budget Act (BBA) of 2019 raised the Budget Control Act limits on federal discretionary defense and non-defense spending for fiscal years 2020 and 2021 (FY20 and FY21), reducing budget uncertainty and the risk of sequestration. Although overall funding levels have been agreed to, the timeliness of FY20 funding for government departments and agencies, including the Department of Defense (DoD), the National Aeronautics and Space Administration (NASA) and the Federal Aviation Administration (FAA), remains a risk. The Continuing Resolution (CR), enacted on September 27, 2019, continues federal funding at FY19 appropriations levels through November 21, 2019. Congress and the President must enact either full-year FY20 appropriations bills or an additional CR to fund government departments and agencies beyond November 21, 2019 in order to prevent a future government shutdown. A government shutdown may impact the Company's operations. For example, requirements to furlough employees in the U.S. DoD, the Department of Transportation or other government agencies could result in payment delays, impair our ability to perform work on existing contracts, and/or negatively impact future orders. Congress may fund FY20 by passing one or more CRs; however, this could restrict the execution of certain program activities and delay new programs or competitions. There continues to be uncertainty with respect to future program-level appropriations for the U.S. DoD and other government agencies, including NASA. 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 our results of operations, financial position and/or cash flows. 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, USAF KC-46A Tanker, T-7A Red Hawk (formerly T-X Trainer), VC-25B Presidential Aircraft, MQ-25, 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, we have recorded reach-forward losses on the KC-46A Tanker and we continue to have risk for further losses if we experience further production, technical or quality issues. In addition, in 2018, in connection with winning the T-7A Red Hawk and MQ-25 competitions, we recorded a loss of $400 associated with options for 346 T-7A Red Hawk aircraft and a loss of $291 related to the MQ-25 Engineering, Manufacturing and Development (EMD) contract. Moreover, our fixed-price development 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 EMD contract is a fixed-price incentive fee contract valued at $4.9 billion and involves highly complex designs and systems integration. In 2016, the USAF authorized two low rate initial production (LRIP) lots for 7 and 12 aircraft valued at $2.8 billion . In January 2017, the USAF authorized an additional LRIP lot for 15 aircraft valued at $2.1 billion . On September 10, 2018, the USAF authorized an additional 18 aircraft valued at $2.9 billion . On September 27, 2019, the USAF authorized an additional LRIP lot for 15 aircraft valued at $2.6 billion . At September 30, 2019 , we had approximately $304 of capitalized precontract costs and $150 of potential termination liabilities to suppliers. Recoverable Costs on Government Contracts |
Arrangements With Off-Balance S
Arrangements With Off-Balance Sheet Risk | 9 Months Ended |
Sep. 30, 2019 | |
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 September 30 December 31 September 30 December 31 September 30 December 31 Contingent repurchase commitments $1,599 $1,685 $1,599 $1,685 Indemnifications to ULA: Contributed Delta program launch inventory 30 52 Other Delta contracts 176 176 Credit guarantees 92 106 33 51 16 16 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. See Note 5 . ULA has yet to consume $30 of contributed inventory. 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. In 2012, Boeing and ULA, through its subsidiary United Launch Services, filed a suit in the Court of Federal Claims seeking recovery of the deferred support and production costs from the U.S. government, which subsequently 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. The discovery phase of the litigation completed in 2017. The parties have since agreed to engage in alternative dispute resolution, and the court has stayed the litigation pending that process. 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 BCA 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 where we are obligated to make payments to a guaranteed party in the event that the original lessee or debtor does not make payments or perform certain specified services. Generally, these guarantees have been extended on behalf of guaranteed parties with less than investment-grade credit and are collateralized by certain assets. Current outstanding credit guarantees expire through 2036 . |
Debt
Debt | 9 Months Ended |
Sep. 30, 2019 | |
Debt Disclosure [Abstract] | |
Debt Disclosure [Text Block] | In the first quarter of 2019, we issued $1,500 of fixed rate senior notes consisting of $400 due March 1, 2024 that bear an annual interest rate of 2.8% , $400 due March 1, 2029 that bear an annual interest rate of 3.2% , $400 due March 1, 2039 that bear an annual interest rate of 3.5% , and $300 due March 1, 2059 that bear an annual interest rate of 3.825% . 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 $1,451 , after deducting underwriting discounts, commissions and offering expenses. In the second quarter of 2019, we issued $3,500 of fixed rate senior notes consisting of $600 due May 1, 2022 that bear an annual interest rate of 2.7% , $650 due May 1, 2026 that bear an annual interest rate of 3.1% , $600 due March 1, 2029 that bear an annual interest rate of 3.2% , $850 due May 1, 2034 that bear an annual interest rate of 3.6% , and $800 due May 1, 2049 that bear an annual interest rate of 3.9% . 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 $3,454 , after deducting underwriting discounts, commissions and offering expenses. In the second quarter of 2019, we entered into a $1,500 short-term credit agreement, which is scheduled to terminate on October 30, 2019 . At September 30, 2019 , we had $6,620 of unused borrowing capacity on revolving credit line agreements. In the third quarter of 2019, we issued $5,500 of fixed rate senior notes consisting of $750 due August 1, 2021 that bear an annual interest rate of 2.3% , $1,000 due February 1, 2027 that bear an annual interest rate of 2.7% , $750 due February 1, 2030 that bear an annual interest rate of 2.95% , $750 due February 1, 2035 that bear an annual interest rate of 3.25% , $1,250 due February 1, 2050 that bear an annual interest rate of 3.75% , and $1,000 due August 1, 2059 that bear an annual interest rate of 3.95% . 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 $5,442 |
Postretirement Plans
Postretirement Plans | 9 Months Ended |
Sep. 30, 2019 | |
Retirement Benefits [Abstract] | |
Postretirement Plans | Postretirement Plans The components of net periodic benefit (income)/cost were as follows: Nine months ended September 30 Three months ended September 30 Pension Plans 2019 2018 2019 2018 Service cost $2 $322 $107 Interest cost 2,193 2,086 $731 696 Expected return on plan assets (2,896 ) (3,007 ) (966 ) (1,002 ) Amortization of prior service credits (59 ) (42 ) (19 ) (14 ) Recognized net actuarial loss 482 847 161 282 Settlement/curtailment/other losses 43 Net periodic benefit (income)/cost ($278 ) $249 ($93 ) $69 Net periodic benefit cost included in Earnings from operations $234 $237 $76 $79 Net periodic benefit income included in Other income (280 ) (98 ) (93 ) (50 ) Net periodic benefit (income)/cost included in Earnings before income taxes ($46 ) $139 ($17 ) $29 Nine months ended September 30 Three months ended September 30 Other Postretirement Plans 2019 2018 2019 2018 Service cost $58 $71 $19 $24 Interest cost 147 145 49 48 Expected return on plan assets (6 ) (6 ) (2 ) (2 ) Amortization of prior service credits (26 ) (94 ) (8 ) (31 ) Recognized net actuarial gain (35 ) (8 ) (12 ) (3 ) Net periodic benefit cost $138 $108 $46 $36 Net periodic benefit cost included in Earnings from operations $66 $63 $21 $21 Net periodic benefit cost included in Other income 80 77 27 29 Net periodic benefit cost included in Earnings before income taxes $146 $140 $48 $50 |
Share-Based Compensation And Ot
Share-Based Compensation And Other Compensation Arrangements | 9 Months Ended |
Sep. 30, 2019 | |
Share-based Payment Arrangement [Abstract] | |
Share-Based Compensation And Other Compensation Arrangements | Share-Based Compensation and Other Compensation Arrangements Restricted Stock Units On February 25, 2019 , we granted to our executives 233,582 restricted stock units ( RSU s) as part of our long-term incentive program with a grant date fair value of $428.22 per unit. The RSU s 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. Performance-Based Restricted Stock Units On February 25, 2019 , we granted to our executives 214,651 performance-based restricted stock units ( PBRSU s) as part of our long-term incentive program with a grant date fair value of $466.04 per unit. Compensation expense for the award is recognized over the three -year performance period based upon the grant date fair value estimated using a Monte-Carlo simulation model. The model used the following assumptions: expected volatility of 23.88% based upon historical stock volatility, a risk-free interest rate of 2.46% , and no expected dividend yield because the units earn dividend equivalents. Performance Awards On February 25, 2019 , we granted to our executives performance awards as part of our long-term incentive program with a payout based on the achievement of financial goals for the three -year period ending December 31, 2021 . At September 30, 2019 , the minimum payout amount is $0 and the maximum amount we could be required to pay out is $393 . |
Shareholders' Equity
Shareholders' Equity | 9 Months Ended |
Sep. 30, 2019 | |
Equity [Abstract] | |
Shareholders' Equity | Shareholders' Equity Accumulated Other Comprehensive Loss Changes in Accumulated other comprehensive loss (AOCI) by component for the nine and three months ended September 30, 2019 and 2018 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, 2018 ($15 ) ($2 ) $54 ($16,410 ) ($16,373 ) Other comprehensive (loss)/income before reclassifications (55 ) 3 (97 ) (3 ) (152 ) Amounts reclassified from AOCI 19 557 (2) 576 Net current period Other comprehensive (loss)/income (55 ) 3 (78 ) 554 424 Balance at September 30, 2018 ($70 ) $1 ($24 ) ($15,856 ) ($15,949 ) Balance at January 1, 2019 ($101 ) ($62 ) ($14,920 ) ($15,083 ) Other comprehensive (loss)/income before reclassifications (61 ) 1 (106 ) 17 (149 ) Amounts reclassified from AOCI 22 283 (2) 305 Net current period Other comprehensive (loss)/income (61 ) 1 (84 ) 300 156 Balance at September 30, 2019 ($162 ) $1 ($146 ) ($14,620 ) ($14,927 ) Balance at June 30, 2018 ($72 ) $1 ($29 ) ($16,039 ) ($16,139 ) Other comprehensive (loss)/income before reclassifications 2 (4 ) (1 ) (3 ) Amounts reclassified from AOCI 9 184 (2) 193 Net current period Other comprehensive (loss)/income 2 5 183 190 Balance at September 30, 2018 ($70 ) $1 ($24 ) ($15,856 ) ($15,949 ) Balance at June 30, 2019 ($103 ) $1 ($82 ) ($14,724 ) ($14,908 ) Other comprehensive (loss)/income before reclassifications (59 ) (89 ) 9 (139 ) Amounts reclassified from AOCI 25 95 (2) 120 Net current period Other comprehensive (loss)/income (59 ) (64 ) 104 (19 ) Balance at September 30, 2019 ($162 ) $1 ($146 ) ($14,620 ) ($14,927 ) (1) Net of tax. (2) Primarily relates to amortization of actuarial losses for the nine and three months ended September 30, 2018 totaling $657 and $219 (net of tax of ($182) and ($60) ) and for the nine and three months ended September 30, 2019 totaling $350 and $117 (net of tax of ($97) and ($32) ). |
Derivative Financial Instrument
Derivative Financial Instruments | 9 Months Ended |
Sep. 30, 2019 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
Derivative Financial Instruments | Derivative Financial Instruments Disclosures reflect the adoption of ASU 2017-12, Derivatives and Hedging (Topic 815) , in the first quarter of 2019. Prior period amounts have not been restated. 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 2025 . We use commodity derivatives, such as fixed-price purchase commitments and swaps to hedge against potentially unfavorable price changes for items used in production. Our commodity contracts hedge forecasted transactions through 2023 . 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 non-U.S. 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 Condensed Consolidated Statements of Financial Position were as follows: Notional amounts (1) Other assets Accrued liabilities September 30 December 31 September 30 December 31 September 30 December 31 Derivatives designated as hedging instruments: Foreign exchange contracts $2,733 $3,407 $17 $32 ($105 ) ($132 ) Interest rate contracts 125 125 Commodity contracts 669 57 4 9 (93 ) (2 ) Derivatives not receiving hedge accounting treatment: Foreign exchange contracts 824 414 6 11 (18 ) (2 ) Commodity contracts 1,713 478 Total derivatives $6,064 $4,481 $27 $52 ($216 ) ($136 ) Netting arrangements (20 ) (24 ) 20 24 Net recorded balance $7 $28 ($196 ) ($112 ) (1) Notional amounts represent the gross contract/notional amount of the derivatives outstanding. Gains/(losses) associated with our hedging transactions and forward points recognized in Other comprehensive income are presented in the following table: Nine months ended September 30 Three months ended September 30 2019 2018 2019 2018 Recognized in Other comprehensive income, net of taxes: Foreign exchange contracts ($6 ) ($80 ) ($34 ) $4 Commodity contracts (78 ) 2 (30 ) 1 Gains/(losses) associated with our hedging transactions and forward points reclassified from AOCI to earnings are presented in the following table: Nine months ended September 30 Three months ended September 30 2019 2018 2019 2018 Foreign exchange contracts Revenues ($6 ) Costs and expenses ($21 ) ($17 ) (9 ) ($9 ) General and administrative (9 ) (8 ) (18 ) (5 ) Commodity contracts Revenues Costs and expenses 1 1 1 General and administrative expense 1 1 1 Gains/(losses) related to undesignated derivatives on foreign exchange cash flow hedging transactions recognized in Other income were gains of $1 and losses of $1 for the nine and three months ended September 30, 2019 and losses of $2 and $1 for the nine and three months ended September 30, 2018 . Forward points related to foreign exchange cash flow hedging transactions recognized in Other income were gains of $5 and $0 for the nine and three months ended September 30, 2018 . Based on our portfolio of cash flow hedges, we expect to reclassify losses of $15 (pre-tax) out of Accumulated other comprehensive loss into earnings during the next 12 months. 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 September 30, 2019 was $42 . At September 30, 2019 , there was no collateral posted related to our derivatives. |
Fair Value Measurements
Fair Value Measurements | 9 Months Ended |
Sep. 30, 2019 | |
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. September 30, 2019 December 31, 2018 Total Level 1 Level 2 Total Level 1 Level 2 Assets Money market funds $1,371 $1,371 $1,737 $1,737 Available-for-sale debt investments: Commercial paper 146 $146 78 $78 Corporate notes 352 352 420 420 U.S. government agencies 109 109 Other equity investments 10 10 12 12 Derivatives 7 7 28 28 Total assets $1,995 $1,490 $505 $2,275 $1,749 $526 Liabilities Derivatives ($196 ) ($196 ) ($112 ) ($112 ) Total liabilities ($196 ) ($196 ) ($112 ) ($112 ) 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 nine months ended September 30 due to long-lived asset impairment and the fair value and asset classification of the related assets as of the impairment date: 2019 2018 Fair Value Total Losses Fair Value Total Losses Operating lease equipment $10 ($1 ) $45 ($16 ) Investments 51 (84 ) (47 ) Property, plant and equipment 41 (4 ) Acquired intangible assets 3 (17 ) Total $105 ($106 ) $45 ($63 ) Investments, 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. 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. For Level 3 assets that were measured at fair value on a nonrecurring basis during the nine months ended September 30 , 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 $10 Market approach Aircraft value publications $12- $20 (1) Median $16 Aircraft condition adjustments ($6) - $0 (2) Net ($6) (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 Condensed Consolidated Statements of Financial Position were as follows: September 30, 2019 Carrying Amount Total Fair Value Level 1 Level 2 Level 3 Assets Notes receivable, net $446 $451 $451 Liabilities Debt, excluding capital lease obligations and commercial paper (21,432 ) (24,518 ) (24,480 ) ($38 ) December 31, 2018 Carrying Amount Total Fair Value Level 1 Level 2 Level 3 Assets Notes receivable, net $730 $735 $735 Liabilities Debt, excluding capital lease obligations and commercial paper (11,796 ) (12,746 ) (12,682 ) ($64 ) 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 receivable, Unbilled receivables, Accounts payable and long-term payables. The carrying values of those items, as reflected in the Condensed Consolidated Statements of Financial Position, approximate their fair value at September 30, 2019 and December 31, 2018 . 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 | 9 Months Ended |
Sep. 30, 2019 | |
Legal Proceedings [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. Where it is reasonably possible that we will incur losses in excess of recorded amounts in connection with any of the matters set forth below, we will disclose either the amount or range of reasonably possible losses in excess of such amounts or, where no such amount or range can be reasonably estimated, the reasons why no such estimate can be made. Multiple legal actions have been filed against us as a result of the October 29, 2018 accident of Lion Air Flight 610 and the March 10, 2019 accident of Ethiopian Airlines Flight 302. Further, we are fully cooperating with all ongoing governmental and regulatory investigations and inquiries relating to the accidents and the 737 MAX. We cannot reasonably estimate a range of loss, if any, not covered by available insurance that may result given the ongoing status of these lawsuits, investigations, and inquiries. |
Segment and Revenue Information
Segment and Revenue Information | 9 Months Ended |
Sep. 30, 2019 | |
Segment Reporting [Abstract] | |
Segment and Revenue Information | Segment and Revenue Information Effective at the beginning of 2019, all revenues and costs associated with military derivative aircraft production are reported in the BDS segment. Revenues and costs associated with military derivative aircraft production were previously reported in the BCA and BDS segments. Business segment data for 2018 reflects the realignment for military derivative aircraft, as well as the realignment of certain programs from BDS to BGS. Our primary profitability measurements to review a segment’s operating results are Earnings from operations and operating margins. We operate in four reportable segments: BCA, BDS, BGS, and BCC. All other activities fall within Unallocated items, eliminations and other. See page 7 for the Summary of Business Segment Data, which is an integral part of this note. BCA develops, produces and markets commercial jet aircraft principally to the commercial airline industry worldwide. Revenue on commercial aircraft contracts is recognized at the point in time when an aircraft is completed and accepted by the customer. BDS engages in the research, development, production and modification of the following products and related services: manned and unmanned military aircraft and weapons systems, surveillance and engagement, strategic defense and intelligence systems, satellite systems and space exploration. BDS revenue is generally recognized over the contract term (over time) as costs are incurred. BGS provides parts, maintenance, modifications, logistics support, training, data analytics and information-based services to commercial and government customers worldwide. BGS segment revenue and costs include certain services provided to other segments. Revenue on commercial spare parts contracts is recognized at the point in time when a spare part is delivered to the customer. Revenue on other contracts is generally recognized over the contract term (over time) as costs are incurred. BCC facilitates, arranges, structures and provides selective financing solutions for our Boeing customers. The following tables present BCA, BDS and BGS revenues from contracts with customers disaggregated in a number of ways, such as geographic location, contract type and the method of revenue recognition. We believe these best depict how the nature, amount, timing and uncertainty of our revenues and cash flows are affected by economic factors. BCA revenues by customer location consist of the following: (Dollars in millions) Nine months ended September 30 Three months ended September 30 2019 2018 2019 2018 Revenue from contracts with customers: Europe $3,944 $7,189 $1,260 $1,882 China 4,393 9,433 1,237 4,677 Asia, other than China 5,832 5,966 1,454 1,886 Middle East 2,926 3,931 1,121 1,598 Other 2,533 3,598 166 1,098 Total non-U.S. revenues 19,628 30,117 5,238 11,141 United States 10,591 10,824 3,004 2,922 Estimated potential concessions and other considerations to 737 MAX customers, net (1) (5,610 ) Total revenues from contracts with customers 24,609 40,941 8,242 14,063 Intersegment revenues eliminated on consolidation 184 27 7 8 Total segment revenues $24,793 $40,968 $8,249 $14,071 Revenue recognized on fixed-price contracts 100 % 100 % 100 % 100 % Revenue recognized at a point in time 100 % 100 % 100 % 99 % (1) Net of insurance recoveries BDS revenues on contracts with customers, based on the customer's location, consist of the following: (Dollars in millions) Nine months ended September 30 Three months ended September 30 2019 2018 2019 2018 Revenue from contracts with customers: U.S. customers $15,234 $14,586 $5,459 $5,381 Non U.S. customers (1) 5,031 4,932 1,583 1,556 Total segment revenue from contracts with customers $20,265 $19,518 $7,042 $6,937 Revenue recognized over time 98 % 98 % 97 % 98 % Revenue recognized on fixed-price contracts 69 % 69 % 70 % 70 % Revenue from the U.S. government (1) 89 % 88 % 90 % 88 % (1) Includes revenues earned from foreign military sales through the U.S. government. BGS revenues consist of the following: (Dollars in millions) Nine months ended September 30 Three months ended September 30 2019 2018 2019 2018 Revenue from contracts with customers: Commercial $7,621 $6,419 $2,510 $2,167 Government 6,075 5,584 2,101 1,882 Total revenues from contracts with customers 13,696 12,003 4,611 4,049 Intersegment revenues eliminated on consolidation 124 145 47 52 Total segment revenues $13,820 $12,148 $4,658 $4,101 Revenue recognized at a point in time 56 % 52 % 54 % 52 % Revenue recognized on fixed-price contracts 89 % 88 % 90 % 85 % Revenue from the U.S. government (1) 33 % 32 % 35 % 32 % (1) Includes revenues earned from foreign military sales through the U.S. government. Backlog Our total backlog represents the estimated transaction prices on performance obligations to our customers for which work remains to be performed. Backlog is converted into revenue in future periods as work is performed, primarily based on the cost incurred or at delivery and acceptance of products, depending on the applicable accounting method. Our backlog at September 30, 2019 was $470,225 . We expect approximately 26% to be converted to revenue through 2020 and approximately 72% through 2023 , with the remainder thereafter. Unallocated Items, Eliminations and other Unallocated items, eliminations and other include common internal services that support Boeing’s global business operations, intercompany guarantees provided to BCC and eliminations of certain sales between segments. Such sales include airplanes accounted for as operating leases and considered transferred to the BCC segment. 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. Nine months ended September 30 Three months ended September 30 2019 2018 2019 2018 Share-based plans ($57 ) ($60 ) ($21 ) ($24 ) Deferred compensation (154 ) (112 ) (25 ) (56 ) Amortization of previously capitalized interest (68 ) (67 ) (23 ) (19 ) Research and development expense, net (270 ) (69 ) (97 ) (50 ) Customer financing impairment (250 ) Litigation (109 ) (148 ) Eliminations and other unallocated items (819 ) (737 ) (356 ) (322 ) Unallocated items, eliminations and other ($1,727 ) ($1,193 ) ($522 ) ($471 ) Pension FAS/CAS service cost adjustment $823 $780 $274 $260 Postretirement FAS/CAS service cost adjustment 270 239 90 77 FAS/CAS service cost adjustment $1,093 $1,019 $364 $337 Pension and Other Postretirement Benefit Expense Pension costs, comprising GAAP service and prior service costs, are allocated to BCA and the commercial operations at BGS. Pension costs are allocated to BDS and BGS businesses supporting government customers 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. FAS/CAS service cost adjustment represents the difference between the FAS pension and postretirement service costs calculated under GAAP and costs allocated to the business segments. Non-operating pension and postretirement expenses represent the components of net periodic benefit costs other than service cost. These expenses are included in Other income . Assets Segment assets are summarized in the table below: September 30 December 31 Commercial Airplanes $74,994 $64,788 Defense, Space & Security 19,431 19,594 Global Services 18,696 17,921 Boeing Capital 2,246 2,809 Unallocated items, eliminations and other 17,231 12,247 Total $132,598 $117,359 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. |
Basis Of Presentation (Policy)
Basis Of Presentation (Policy) | 9 Months Ended |
Sep. 30, 2019 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
New Accounting Pronouncements, Policy [Policy Text Block] | Standards Issued and Implemented In the first quarter of 2019, we adopted Accounting Standards Update (ASU) 2016-02, Leases (Topic 842) and recognized on our Condensed Consolidated Statement of Financial Position $1,064 of lease liabilities with corresponding right-of-use assets for operating leases. Our accounting for finance leases and lessor contracts remains substantially unchanged. The standard has no impact to cash provided or used by operating, investing, or financing activities on our Condensed Consolidated Statements of Cash Flows. As permitted under the standard, we elected prospective application of the new guidance and prior periods continue to be presented in accordance with Topic 840. Refer to our 2018 Annual Report on Form 10-K for disclosures required by Topic 840. We also elected the package of practical expedients, which among other things, does not require reassessment of lease classification. In the first quarter of 2019, we adopted ASU 2017-12, Derivatives and Hedging (Topic 815), using the modified retrospective method. The standard refines and simplifies hedge accounting requirements for both financial and commodity risks. The impact of the adoption was not material. See Note 17 for additional disclosures. |
Lease policy [Policy Text Block] | Leases We determine if an arrangement is, or contains, a lease at the inception date. Operating leases are included in Other assets, with the related liabilities included in Accrued liabilities and Other long-term liabilities. Assets under finance leases are included in Property, plant and equipment, net, with the related liabilities included in Short-term debt and current portion of long-term debt and Long-term debt on the Condensed Consolidated Statements of Financial Position. Operating lease assets represent our right to use an underlying asset for the lease term and lease liabilities represent our obligation to make lease payments arising from the lease. Operating lease assets and liabilities are recognized at the lease commencement date based on the estimated present value of lease payments over the lease term. We use our estimated incremental borrowing rate in determining the present value of lease payments. Variable components of the lease payments such as fair market value adjustments, utilities, and maintenance costs are expensed as incurred and not included in determining the present value. Our lease terms include options to extend or terminate the lease when it is reasonably certain that we will exercise that option. Lease expense is recognized on a straight-line basis over the lease term. We have lease agreements with lease and non-lease components which are accounted for as a single lease component. |
Use of Estimates, Policy [Policy Text Block] | Use of Estimates The preparation of financial statements in conformity with U.S. generally accepted accounting principles (GAAP) requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. 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 long-term contract’s percentage-of-completion. When the current estimates of total sales and costs for a long-term contract indicate a loss, a provision for the entire reach-forward loss on the long-term contract is recognized. Net cumulative catch-up adjustments to prior years' revenue and earnings, including certain reach-forward losses, across all long-term contracts were as follows: (In millions - except per share amounts) Nine months ended September 30 Three months ended September 30 2019 2018 2019 2018 Increase/(decrease) to Revenue $166 ($14 ) ($63 ) ($59 ) Increase/(decrease) to Earnings from Operations $152 ($314 ) ($23 ) ($155 ) Increase/(decrease) to Diluted EPS $1.20 ($0.50 ) ($0.04 ) ($0.30 ) |
Earnings Per Share, Policy [Policy Text Block] | 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. |
Backlog [Policy Text Block] | Our total backlog represents the estimated transaction prices on performance obligations to our customers for which work remains to be performed. Backlog is converted into revenue in future periods as work is performed, primarily based on the cost incurred or at delivery and acceptance of products, depending on the applicable accounting method. |
Customer Financing Customer Fin
Customer Financing Customer Financing (Policies) | 9 Months Ended |
Sep. 30, 2019 | |
Customer Financing [Abstract] | |
Impaired Financing Receivable, Policy [Policy Text Block] | 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. |
Financing Receivable, Allowance for Credit Losses, Policy for Uncollectible Amounts [Policy Text Block] | 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. |
Commitments And Contingencies C
Commitments And Contingencies Commitments and Contingencies (Policies) | 9 Months Ended |
Sep. 30, 2019 | |
Commitments and Contingencies Disclosure [Abstract] | |
Environmental | 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. |
Commitments and Contingencies, Policy [Policy Text Block] | 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. |
Summary Of Business Segment D_2
Summary Of Business Segment Data Summary of Business Segment Data (Tables) | 9 Months Ended |
Sep. 30, 2019 | |
Segment Reporting, Disclosure of Entity's Reportable Segments [Abstract] | |
Schedule of Segment Reporting Information, by Segment [Table Text Block] | (Dollars in millions) Nine months ended September 30 Three months ended September 30 2019 2018 2019 2018 Revenues: Commercial Airplanes $24,793 $40,968 $8,249 $14,071 Defense, Space & Security 20,265 19,518 7,042 6,937 Global Services 13,820 12,148 4,658 4,101 Boeing Capital 207 214 66 77 Unallocated items, eliminations and other (437 ) (62 ) (35 ) (40 ) Total revenues $58,648 $72,786 $19,980 $25,146 (Loss)/earnings from operations: Commercial Airplanes ($3,813 ) $5,230 ($40 ) $2,033 Defense, Space & Security 2,577 886 755 (247 ) Global Services 2,013 1,799 673 548 Boeing Capital 86 71 29 27 Segment operating profit 863 7,986 1,417 2,361 Unallocated items, eliminations and other (1,727 ) (1,193 ) (522 ) (471 ) FAS/CAS service cost adjustment 1,093 1,019 364 337 Earnings from operations 229 7,812 1,259 2,227 Other income 334 63 121 12 Interest and debt expense (480 ) (317 ) (203 ) (106 ) Earnings before income taxes 83 7,558 1,177 2,133 Income tax benefit/(expense) 291 (522 ) (10 ) 230 Net earnings $374 $7,036 $1,167 $2,363 |
Basis Of Presentation Basis of
Basis Of Presentation Basis of Presentation (Tables) | 9 Months Ended |
Sep. 30, 2019 | |
Net cumulative catch-up adjustments [Abstract] | |
Use of Estimates, Policy [Policy Text Block] | Use of Estimates The preparation of financial statements in conformity with U.S. generally accepted accounting principles (GAAP) requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. 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 long-term contract’s percentage-of-completion. When the current estimates of total sales and costs for a long-term contract indicate a loss, a provision for the entire reach-forward loss on the long-term contract is recognized. Net cumulative catch-up adjustments to prior years' revenue and earnings, including certain reach-forward losses, across all long-term contracts were as follows: (In millions - except per share amounts) Nine months ended September 30 Three months ended September 30 2019 2018 2019 2018 Increase/(decrease) to Revenue $166 ($14 ) ($63 ) ($59 ) Increase/(decrease) to Earnings from Operations $152 ($314 ) ($23 ) ($155 ) Increase/(decrease) to Diluted EPS $1.20 ($0.50 ) ($0.04 ) ($0.30 ) |
Earnings Per Share (Tables)
Earnings Per Share (Tables) | 9 Months Ended |
Sep. 30, 2019 | |
Earnings Per Share [Abstract] | |
Earnings Per Share [Text Block] | 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) Nine months ended September 30 Three months ended September 30 2019 2018 2019 2018 Net earnings $374 $7,036 $1,167 $2,363 Less: earnings available to participating securities 5 1 2 Net earnings available to common shareholders $374 $7,031 $1,166 $2,361 Basic Basic weighted average shares outstanding 566.2 582.7 565.2 574.8 Less: participating securities 0.6 0.7 0.6 0.6 Basic weighted average common shares outstanding 565.6 582.0 564.6 574.2 Diluted Basic weighted average shares outstanding 566.2 582.7 565.2 574.8 Dilutive potential common shares (1) 4.2 6.2 4.0 6.0 Diluted weighted average shares outstanding 570.4 588.9 569.2 580.8 Less: participating securities 0.6 0.7 0.6 0.6 Diluted weighted average common shares outstanding 569.8 588.2 568.6 580.2 Net earnings per share: Basic $0.66 $12.08 $2.07 $4.11 Diluted 0.66 11.95 2.05 4.07 (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/(loss) per share because the effect was either antidilutive or the performance condition was not met. (Shares in millions) Nine months ended September 30 Three months ended September 30 2019 2018 2019 2018 Performance awards 2.6 2.6 2.6 2.2 Performance-based restricted stock units 0.6 0.3 0.6 0.2 |
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) Nine months ended September 30 Three months ended September 30 2019 2018 2019 2018 Net earnings $374 $7,036 $1,167 $2,363 Less: earnings available to participating securities 5 1 2 Net earnings available to common shareholders $374 $7,031 $1,166 $2,361 Basic Basic weighted average shares outstanding 566.2 582.7 565.2 574.8 Less: participating securities 0.6 0.7 0.6 0.6 Basic weighted average common shares outstanding 565.6 582.0 564.6 574.2 Diluted Basic weighted average shares outstanding 566.2 582.7 565.2 574.8 Dilutive potential common shares (1) 4.2 6.2 4.0 6.0 Diluted weighted average shares outstanding 570.4 588.9 569.2 580.8 Less: participating securities 0.6 0.7 0.6 0.6 Diluted weighted average common shares outstanding 569.8 588.2 568.6 580.2 Net earnings per share: Basic $0.66 $12.08 $2.07 $4.11 Diluted 0.66 11.95 2.05 4.07 (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 | (Shares in millions) Nine months ended September 30 Three months ended September 30 2019 2018 2019 2018 Performance awards 2.6 2.6 2.6 2.2 Performance-based restricted stock units 0.6 0.3 0.6 0.2 |
Inventories (Tables)
Inventories (Tables) | 9 Months Ended |
Sep. 30, 2019 | |
Inventory Disclosure [Abstract] | |
Schedule of Inventory, Current | Inventories consisted of the following: September 30 December 31 Long-term contracts in progress $966 $2,129 Commercial aircraft programs 63,518 52,753 Commercial spare parts, used aircraft, general stock materials and other 8,795 7,685 Total $73,279 $62,567 |
Customer Financing (Tables)
Customer Financing (Tables) | 9 Months Ended |
Sep. 30, 2019 | |
Customer Financing [Abstract] | |
Schedule Of Customer Financing | Customer financing primarily relates to the Boeing Capital ( BCC ) segment and consisted of the following: September 30 December 31 Financing receivables: Investment in sales-type/finance leases $1,016 $1,125 Notes 446 730 Total financing receivables 1,462 1,855 Operating lease equipment, at cost, less accumulated depreciation of $245 and $203 789 782 Operative lease incentive 250 Gross customer financing 2,251 2,887 Less allowance for losses on receivables (8 ) (9 ) Total $2,243 $2,878 |
Financing Receivable Credit Quality Indicators | Our financing receivable balances by internal credit rating category are shown below: Rating categories September 30 December 31 BBB $594 $883 BB 348 430 B 125 135 CCC 395 407 Total carrying value of financing receivables $1,462 $1,855 |
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: September 30 December 31 717 Aircraft ($184 and $204 accounted for as operating leases) $778 $918 747-8 Aircraft ($130 and $132 accounted for as operating leases) 474 477 737 Aircraft ($243 and $263 accounted for as operating leases) 266 290 757 Aircraft ($22 and $24 accounted for as operating leases) 186 200 MD-80 Aircraft (accounted for as sales-type finance leases) 184 204 777 Aircraft ($126 and $60 accounted for as operating leases) 131 68 747-400 Aircraft ($33 and $45 accounted for as operating leases) 95 116 |
Customer Financing, Lease Receivable Maturity | As of September 30, 2019 , undiscounted cash flows for sales-type/finance and operating leases over the next five years and thereafter are as follows: Sales-type/finance leases Operating leases Year 1 $179 $118 Year 2 134 93 Year 3 97 83 Year 4 109 61 Year 5 121 46 Thereafter 140 57 Total lease receipts 780 458 Less imputed interest (167 ) Estimated unguaranteed residual values 403 Total $1,016 $458 |
Investments (Tables)
Investments (Tables) | 9 Months Ended |
Sep. 30, 2019 | |
Investments [Abstract] | |
Schedule of Investments | Investments Our investments, which are recorded in Short-term and other investments or Investments, consisted of the following: September 30 December 31 Equity method investments (1) $1,079 $1,048 Time deposits 529 255 Available for sale debt instruments 530 491 Equity and other investments 43 44 Restricted cash & cash equivalents (2) 86 176 Total $2,267 $2,014 (1) Dividends received were $153 and $60 for the nine and three months ended September 30, 2019 and $222 and $79 during the same periods in the prior year. (2) |
Leases Leases (Tables)
Leases Leases (Tables) | 9 Months Ended |
Sep. 30, 2019 | |
Leases [Abstract] | |
Lessee, Operating Leases [Text Block] | Supplemental Condensed Consolidated Statement of Financial Position information related to leases was as follows: September 30 Operating leases: Operating lease right-of-use assets $1,178 Current portion of lease liabilities 260 Non-current portion of lease liabilities 969 Total operating lease liabilities $1,229 Weighted average remaining lease term (years) 9 Weighted average discount rate 3.07 % |
Lessee, Operating Lease, Liability, Maturity [Table Text Block] | Maturities of lease liabilities were as follows: Operating leases Year 1 $292 Year 2 238 Year 3 190 Year 4 153 Year 5 93 Thereafter 598 Total lease payments 1,564 Less imputed interest (335 ) Total $1,229 |
Commitments And Contingencies (
Commitments And Contingencies (Tables) | 9 Months Ended |
Sep. 30, 2019 | |
Commitments and Contingencies Disclosure [Abstract] | |
Environmental | The following table summarizes environmental remediation activity during the nine months ended September 30, 2019 and 2018 . 2019 2018 Beginning balance – January 1 $555 $524 Reductions for payments made (34 ) (17 ) Changes in estimates 61 61 Ending balance – September 30 $582 $568 |
Product Warranties | The following table summarizes product warranty activity recorded during the nine months ended September 30, 2019 and 2018 . 2019 2018 Beginning balance – January 1 $1,127 $1,211 Additions for current year deliveries 128 176 Reductions for payments made (166 ) (135 ) Changes in estimates (7 ) (151 ) Ending balance – September 30 $1,082 $1,101 |
Financing Commitments | The estimated earliest potential funding dates for these commitments as of September 30, 2019 are as follows: Total October through December 2019 $560 2020 3,104 2021 2,989 2022 1,348 2023 2,169 Thereafter 5,437 $15,607 |
Arrangements With Off-Balance_2
Arrangements With Off-Balance Sheet Risk (Tables) | 9 Months Ended |
Sep. 30, 2019 | |
Guarantees [Abstract] | |
Third Party 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 September 30 December 31 September 30 December 31 September 30 December 31 Contingent repurchase commitments $1,599 $1,685 $1,599 $1,685 Indemnifications to ULA: Contributed Delta program launch inventory 30 52 Other Delta contracts 176 176 Credit guarantees 92 106 33 51 16 16 |
Postretirement Plans (Tables)
Postretirement Plans (Tables) | 9 Months Ended |
Sep. 30, 2019 | |
Pension Plans, Defined Benefit [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
Net Periodic Benefit Cost | The components of net periodic benefit (income)/cost were as follows: Nine months ended September 30 Three months ended September 30 Pension Plans 2019 2018 2019 2018 Service cost $2 $322 $107 Interest cost 2,193 2,086 $731 696 Expected return on plan assets (2,896 ) (3,007 ) (966 ) (1,002 ) Amortization of prior service credits (59 ) (42 ) (19 ) (14 ) Recognized net actuarial loss 482 847 161 282 Settlement/curtailment/other losses 43 Net periodic benefit (income)/cost ($278 ) $249 ($93 ) $69 Net periodic benefit cost included in Earnings from operations $234 $237 $76 $79 Net periodic benefit income included in Other income (280 ) (98 ) (93 ) (50 ) Net periodic benefit (income)/cost included in Earnings before income taxes ($46 ) $139 ($17 ) $29 |
Other Postretirement Benefit Plan, Defined Benefit [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
Net Periodic Benefit Cost | Nine months ended September 30 Three months ended September 30 Other Postretirement Plans 2019 2018 2019 2018 Service cost $58 $71 $19 $24 Interest cost 147 145 49 48 Expected return on plan assets (6 ) (6 ) (2 ) (2 ) Amortization of prior service credits (26 ) (94 ) (8 ) (31 ) Recognized net actuarial gain (35 ) (8 ) (12 ) (3 ) Net periodic benefit cost $138 $108 $46 $36 Net periodic benefit cost included in Earnings from operations $66 $63 $21 $21 Net periodic benefit cost included in Other income 80 77 27 29 Net periodic benefit cost included in Earnings before income taxes $146 $140 $48 $50 |
Shareholders' Equity (Tables)
Shareholders' Equity (Tables) | 9 Months Ended |
Sep. 30, 2019 | |
Equity [Abstract] | |
Accumulated other comprehensive income | Changes in Accumulated other comprehensive loss (AOCI) by component for the nine and three months ended September 30, 2019 and 2018 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, 2018 ($15 ) ($2 ) $54 ($16,410 ) ($16,373 ) Other comprehensive (loss)/income before reclassifications (55 ) 3 (97 ) (3 ) (152 ) Amounts reclassified from AOCI 19 557 (2) 576 Net current period Other comprehensive (loss)/income (55 ) 3 (78 ) 554 424 Balance at September 30, 2018 ($70 ) $1 ($24 ) ($15,856 ) ($15,949 ) Balance at January 1, 2019 ($101 ) ($62 ) ($14,920 ) ($15,083 ) Other comprehensive (loss)/income before reclassifications (61 ) 1 (106 ) 17 (149 ) Amounts reclassified from AOCI 22 283 (2) 305 Net current period Other comprehensive (loss)/income (61 ) 1 (84 ) 300 156 Balance at September 30, 2019 ($162 ) $1 ($146 ) ($14,620 ) ($14,927 ) Balance at June 30, 2018 ($72 ) $1 ($29 ) ($16,039 ) ($16,139 ) Other comprehensive (loss)/income before reclassifications 2 (4 ) (1 ) (3 ) Amounts reclassified from AOCI 9 184 (2) 193 Net current period Other comprehensive (loss)/income 2 5 183 190 Balance at September 30, 2018 ($70 ) $1 ($24 ) ($15,856 ) ($15,949 ) Balance at June 30, 2019 ($103 ) $1 ($82 ) ($14,724 ) ($14,908 ) Other comprehensive (loss)/income before reclassifications (59 ) (89 ) 9 (139 ) Amounts reclassified from AOCI 25 95 (2) 120 Net current period Other comprehensive (loss)/income (59 ) (64 ) 104 (19 ) Balance at September 30, 2019 ($162 ) $1 ($146 ) ($14,620 ) ($14,927 ) (1) Net of tax. (2) Primarily relates to amortization of actuarial losses for the nine and three months ended September 30, 2018 totaling $657 and $219 (net of tax of ($182) and ($60) ) and for the nine and three months ended September 30, 2019 totaling $350 and $117 (net of tax of ($97) and ($32) ). |
Derivative Financial Instrume_2
Derivative Financial Instruments (Tables) | 9 Months Ended |
Sep. 30, 2019 | |
Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items] | |
Schedule of Derivative Instruments, Notional Amounts and Fair Values | The notional amounts and fair values of derivative instruments in the Condensed Consolidated Statements of Financial Position were as follows: Notional amounts (1) Other assets Accrued liabilities September 30 December 31 September 30 December 31 September 30 December 31 Derivatives designated as hedging instruments: Foreign exchange contracts $2,733 $3,407 $17 $32 ($105 ) ($132 ) Interest rate contracts 125 125 Commodity contracts 669 57 4 9 (93 ) (2 ) Derivatives not receiving hedge accounting treatment: Foreign exchange contracts 824 414 6 11 (18 ) (2 ) Commodity contracts 1,713 478 Total derivatives $6,064 $4,481 $27 $52 ($216 ) ($136 ) Netting arrangements (20 ) (24 ) 20 24 Net recorded balance $7 $28 ($196 ) ($112 ) (1) Notional amounts represent the gross contract/notional amount of the derivatives outstanding. |
Schedule Of Derivative Instruments, Gains/(Losses) | Gains/(losses) associated with our hedging transactions and forward points recognized in Other comprehensive income are presented in the following table: Nine months ended September 30 Three months ended September 30 2019 2018 2019 2018 Recognized in Other comprehensive income, net of taxes: Foreign exchange contracts ($6 ) ($80 ) ($34 ) $4 Commodity contracts (78 ) 2 (30 ) 1 |
Reclassification out of Accumulated Other Comprehensive Income | Gains/(losses) associated with our hedging transactions and forward points reclassified from AOCI to earnings are presented in the following table: Nine months ended September 30 Three months ended September 30 2019 2018 2019 2018 Foreign exchange contracts Revenues ($6 ) Costs and expenses ($21 ) ($17 ) (9 ) ($9 ) General and administrative (9 ) (8 ) (18 ) (5 ) Commodity contracts Revenues Costs and expenses 1 1 1 General and administrative expense 1 1 1 |
Fair Value Measurements (Tables
Fair Value Measurements (Tables) | 9 Months Ended |
Sep. 30, 2019 | |
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |
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. September 30, 2019 December 31, 2018 Total Level 1 Level 2 Total Level 1 Level 2 Assets Money market funds $1,371 $1,371 $1,737 $1,737 Available-for-sale debt investments: Commercial paper 146 $146 78 $78 Corporate notes 352 352 420 420 U.S. government agencies 109 109 Other equity investments 10 10 12 12 Derivatives 7 7 28 28 Total assets $1,995 $1,490 $505 $2,275 $1,749 $526 Liabilities Derivatives ($196 ) ($196 ) ($112 ) ($112 ) Total liabilities ($196 ) ($196 ) ($112 ) ($112 ) |
Fair Value, Assets Measured On Nonrecurring Basis Using Unobservable Inputs | 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 nine months ended September 30 due to long-lived asset impairment and the fair value and asset classification of the related assets as of the impairment date: 2019 2018 Fair Value Total Losses Fair Value Total Losses Operating lease equipment $10 ($1 ) $45 ($16 ) Investments 51 (84 ) (47 ) Property, plant and equipment 41 (4 ) Acquired intangible assets 3 (17 ) Total $105 ($106 ) $45 ($63 ) |
Fair Value, Assets and Liabilities Measured on Nonrecurring Basis, Valuation Techniques [Table Text Block] | For Level 3 assets that were measured at fair value on a nonrecurring basis during the nine months ended September 30 , 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 $10 Market approach Aircraft value publications $12- $20 (1) Median $16 Aircraft condition adjustments ($6) - $0 (2) Net ($6) (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 Condensed Consolidated Statements of Financial Position were as follows: September 30, 2019 Carrying Amount Total Fair Value Level 1 Level 2 Level 3 Assets Notes receivable, net $446 $451 $451 Liabilities Debt, excluding capital lease obligations and commercial paper (21,432 ) (24,518 ) (24,480 ) ($38 ) December 31, 2018 Carrying Amount Total Fair Value Level 1 Level 2 Level 3 Assets Notes receivable, net $730 $735 $735 Liabilities Debt, excluding capital lease obligations and commercial paper (11,796 ) (12,746 ) (12,682 ) ($64 ) |
Segment and Revenue Informati_2
Segment and Revenue Information (Tables) | 9 Months Ended |
Sep. 30, 2019 | |
Disaggregation of Revenue [Line Items] | |
Schedule Of Unallocated Items and Eliminations | Components of Unallocated items, eliminations and other are shown in the following table. Nine months ended September 30 Three months ended September 30 2019 2018 2019 2018 Share-based plans ($57 ) ($60 ) ($21 ) ($24 ) Deferred compensation (154 ) (112 ) (25 ) (56 ) Amortization of previously capitalized interest (68 ) (67 ) (23 ) (19 ) Research and development expense, net (270 ) (69 ) (97 ) (50 ) Customer financing impairment (250 ) Litigation (109 ) (148 ) Eliminations and other unallocated items (819 ) (737 ) (356 ) (322 ) Unallocated items, eliminations and other ($1,727 ) ($1,193 ) ($522 ) ($471 ) Pension FAS/CAS service cost adjustment $823 $780 $274 $260 Postretirement FAS/CAS service cost adjustment 270 239 90 77 FAS/CAS service cost adjustment $1,093 $1,019 $364 $337 |
Reconciliation of Assets from Segment to Consolidated | Segment assets are summarized in the table below: September 30 December 31 Commercial Airplanes $74,994 $64,788 Defense, Space & Security 19,431 19,594 Global Services 18,696 17,921 Boeing Capital 2,246 2,809 Unallocated items, eliminations and other 17,231 12,247 Total $132,598 $117,359 |
Commercial Airplanes Segment [Member] | |
Disaggregation of Revenue [Line Items] | |
Disaggregation of Revenue | BCA revenues by customer location consist of the following: (Dollars in millions) Nine months ended September 30 Three months ended September 30 2019 2018 2019 2018 Revenue from contracts with customers: Europe $3,944 $7,189 $1,260 $1,882 China 4,393 9,433 1,237 4,677 Asia, other than China 5,832 5,966 1,454 1,886 Middle East 2,926 3,931 1,121 1,598 Other 2,533 3,598 166 1,098 Total non-U.S. revenues 19,628 30,117 5,238 11,141 United States 10,591 10,824 3,004 2,922 Estimated potential concessions and other considerations to 737 MAX customers, net (1) (5,610 ) Total revenues from contracts with customers 24,609 40,941 8,242 14,063 Intersegment revenues eliminated on consolidation 184 27 7 8 Total segment revenues $24,793 $40,968 $8,249 $14,071 Revenue recognized on fixed-price contracts 100 % 100 % 100 % 100 % Revenue recognized at a point in time 100 % 100 % 100 % 99 % (1) Net of insurance recoveries |
Defense, Space & Security [Member] | |
Disaggregation of Revenue [Line Items] | |
Disaggregation of Revenue | BDS revenues on contracts with customers, based on the customer's location, consist of the following: (Dollars in millions) Nine months ended September 30 Three months ended September 30 2019 2018 2019 2018 Revenue from contracts with customers: U.S. customers $15,234 $14,586 $5,459 $5,381 Non U.S. customers (1) 5,031 4,932 1,583 1,556 Total segment revenue from contracts with customers $20,265 $19,518 $7,042 $6,937 Revenue recognized over time 98 % 98 % 97 % 98 % Revenue recognized on fixed-price contracts 69 % 69 % 70 % 70 % Revenue from the U.S. government (1) 89 % 88 % 90 % 88 % (1) Includes revenues earned from foreign military sales through the U.S. government. |
Global Services [Member] | |
Disaggregation of Revenue [Line Items] | |
Disaggregation of Revenue | BGS revenues consist of the following: (Dollars in millions) Nine months ended September 30 Three months ended September 30 2019 2018 2019 2018 Revenue from contracts with customers: Commercial $7,621 $6,419 $2,510 $2,167 Government 6,075 5,584 2,101 1,882 Total revenues from contracts with customers 13,696 12,003 4,611 4,049 Intersegment revenues eliminated on consolidation 124 145 47 52 Total segment revenues $13,820 $12,148 $4,658 $4,101 Revenue recognized at a point in time 56 % 52 % 54 % 52 % Revenue recognized on fixed-price contracts 89 % 88 % 90 % 85 % Revenue from the U.S. government (1) 33 % 32 % 35 % 32 % (1) Includes revenues earned from foreign military sales through the U.S. government. |
Summary Of Business Segment D_3
Summary Of Business Segment Data (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | |
Segment Reporting Information [Line Items] | ||||
Revenues | $ 19,980 | $ 25,146 | $ 58,648 | $ 72,786 |
Earnings from operations | 1,259 | 2,227 | 229 | 7,812 |
Other income | 121 | 12 | 334 | 63 |
Interest and debt expense | (203) | (106) | (480) | (317) |
(Loss)/earnings before income taxes | 1,177 | 2,133 | 83 | 7,558 |
Income tax benefit/(expense) | (10) | 230 | 291 | (522) |
Net earnings | 1,167 | 2,363 | 374 | 7,036 |
Operating Segments [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Earnings from operations | 1,417 | 2,361 | 863 | 7,986 |
Operating Segments [Member] | Commercial Airplanes [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Revenues | 8,249 | 14,071 | 24,793 | 40,968 |
Earnings from operations | (40) | 2,033 | (3,813) | 5,230 |
Operating Segments [Member] | Defense, Space & Security [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Revenues | 7,042 | 6,937 | 20,265 | 19,518 |
Earnings from operations | 755 | (247) | 2,577 | 886 |
Operating Segments [Member] | Global Services [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Revenues | 4,658 | 4,101 | 13,820 | 12,148 |
Earnings from operations | 673 | 548 | 2,013 | 1,799 |
Operating Segments [Member] | Boeing Capital [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Revenues | 66 | 77 | 207 | 214 |
Earnings from operations | 29 | 27 | 86 | 71 |
Unallocated items, eliminations and other [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Revenues | (35) | (40) | (437) | (62) |
Unallocated items, eliminations and other | (522) | (471) | (1,727) | (1,193) |
FAS/CAS service cost adjustment | $ 364 | $ 337 | $ 1,093 | $ 1,019 |
Basis Of Presentation (Details)
Basis Of Presentation (Details) - USD ($) $ / shares in Units, $ in Millions | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | Mar. 31, 2019 | |
Basis of Presentation [Line Items] | |||||
Operating Lease, Liability | $ 1,229 | $ 1,229 | |||
Increase/(Decrease) in revenue due to change in accounting estimate | (63) | $ (59) | 166 | $ (14) | |
Increase/(Decrease) in Earnings from operations due to change in accounting estimate | $ (23) | $ (155) | $ 152 | $ (314) | |
Change in Earnings Per Share Due to Change in Accounting Estimate | $ (0.04) | $ (0.30) | $ 1.20 | $ (0.50) | |
Accounting Standards Update 2016-02 [Member] | |||||
Basis of Presentation [Line Items] | |||||
Operating Lease, Liability | $ 1,229 | $ 1,229 | $ 1,064 |
Acquisitions and Joint Ventur_2
Acquisitions and Joint Ventures Acquisitions and Joint Ventures (Narrative) (Details) $ in Millions | 9 Months Ended |
Sep. 30, 2019USD ($) | |
Business Acquisition [Line Items] | |
Controlling Interest Ownership Percentage After Acquisition | 80.00% |
Payments to Acquire Interest in Joint Venture | $ 4,200 |
Joint Venture, Contingent Termination Fee | $ 100 |
KC-390 [Member] | |
Business Acquisition [Line Items] | |
Noncontrolling Interest Ownership Percentage After Acquisition | 49.00% |
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 | 9 Months Ended | |||
Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | ||
Earnings Per Share [Abstract] | |||||
Net earnings | $ 1,167 | $ 2,363 | $ 374 | $ 7,036 | |
Undistributed Earnings (Loss) Allocated to Participating Securities, Basic | 1 | 2 | 5 | ||
Net earnings available to common shareholders | $ 1,166 | $ 2,361 | $ 374 | $ 7,031 | |
Basic weighted average shares outstanding | 565.2 | 574.8 | 566.2 | 582.7 | |
Participating securities | 0.6 | 0.6 | 0.6 | 0.7 | |
Basic weighted average common shares outstanding | 564.6 | 574.2 | 565.6 | 582 | |
Basic weighted average shares outstanding | 565.2 | 574.8 | 566.2 | 582.7 | |
Dilutive potential common shares | [1] | 4 | 6 | 4.2 | 6.2 |
Diluted weighted average shares outstanding | 569.2 | 580.8 | 570.4 | 588.9 | |
Participating securities | 0.6 | 0.6 | 0.6 | 0.7 | |
Diluted weighted average common shares outstanding | 568.6 | 580.2 | 569.8 | 588.2 | |
Earnings Per Share, Basic | $ 2.07 | $ 4.11 | $ 0.66 | $ 12.08 | |
Earnings Per Share, Diluted | $ 2.05 | $ 4.07 | $ 0.66 | $ 11.95 | |
[1] | Diluted earnings per share includes any dilutive impact of stock options, restricted stock units, performance-based restricted stock units and performance awards. |
Earnings Per Share (Schedule _2
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 | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | |
Performance Awards [Member] | ||||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||||
Shares excluded from the computation of diluted earnings | 2.6 | 2.2 | 2.6 | 2.6 |
Performance-Based Restricted Stock Units (PBRSUs) [Member] | ||||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||||
Shares excluded from the computation of diluted earnings | 0.6 | 0.2 | 0.6 | 0.3 |
Income Taxes (Details)
Income Taxes (Details) - USD ($) | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||
Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | Dec. 31, 2019 | |
Income Tax Examination [Line Items] | |||||
Effective income tax rate | 0.80% | (10.80%) | (350.60%) | 6.90% | |
State and Local Jurisdiction | |||||
Income Tax Examination [Line Items] | |||||
Significant Change in Unrecognized Tax Benefits is Reasonably Possible, Amount of Unrecorded Benefit | $ 480,000,000 | $ 480,000,000 | |||
Tax Year 2013-2014 [Member] | |||||
Income Tax Examination [Line Items] | |||||
Effective Income Tax Rate Reconciliation, Tax Settlement, Domestic, Amount | $ 412 | ||||
Forecast [Member] | |||||
Income Tax Examination [Line Items] | |||||
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent | 21.00% |
Inventories (Narrative) (Detail
Inventories (Narrative) (Details) - USD ($) $ in Millions | Sep. 30, 2019 | Dec. 31, 2018 |
Inventory [Line Items] | ||
Long-term contracts in progress | $ 966 | $ 2,129 |
Other Inventory, Gross | 8,795 | 7,685 |
Airplane Program 787 [Member] | ||
Inventory [Line Items] | ||
Inventory, Work in Process, Gross | 26,593 | 27,852 |
Amount of Deferred Costs Related to Long-term Contracts | 19,825 | 22,967 |
Advances on Inventory Purchases | 2,273 | 2,453 |
Unamortized Tooling | 2,215 | 2,638 |
Recovered Production Costs Excess Recoverable Under Existing Firm Orders | 14,454 | |
Unrecovered Production Costs, Excess Unrecoverable under Existing Firm Orders | 7,586 | |
Airplane Program 737 [Member] | ||
Inventory [Line Items] | ||
Amount of Deferred Costs Related to Long-term Contracts | 1,481 | 463 |
Unamortized Tooling | 522 | 471 |
Recovered Production Costs Excess Recoverable Under Existing Firm Orders | 1,999 | |
Unrecovered Production Costs, Excess Unrecoverable under Existing Firm Orders | 4 | |
Ula [Member] | ||
Inventory [Line Items] | ||
Long-term contracts in progress | 176 | 227 |
Capitalized Precontract Costs [Member] | ||
Inventory [Line Items] | ||
Inventory Amount, Unpriced Change Orders for Long-term Contracts or Programs | 679 | 644 |
Early Issue Sales Consideration [Member] | ||
Inventory [Line Items] | ||
Inventory Amount, Unpriced Change Orders for Long-term Contracts or Programs | $ 2,767 | $ 2,844 |
Inventories (Inventory Disclosu
Inventories (Inventory Disclosure Table) (Details) - USD ($) $ in Millions | Sep. 30, 2019 | Dec. 31, 2018 |
Inventory Disclosure [Abstract] | ||
Long-term contracts in progress | $ 966 | $ 2,129 |
Commercial aircraft programs | 63,518 | 52,753 |
Commercial spare parts, used aircraft, general stock materials and other | 8,795 | 7,685 |
Total | $ 73,279 | $ 62,567 |
Contracts with Customers Cont_2
Contracts with Customers Contracts with Customers (Narrative) (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | Dec. 31, 2018 | |
Revenue from Contract with Customer [Abstract] | |||||
Unbilled receivables, net | $ 11,078 | $ 11,078 | $ 10,025 | ||
Contract with Customer, Asset, Explanation of Change | primarily driven by revenue recognized at BDS and BGS in excess of billings | ||||
Advances and progress billings | 53,167 | $ 53,167 | $ 50,676 | ||
Contract with Customer, Liability, Explanation of Change | primarily driven by advances on orders received in excess of revenue recognized at BCA, BDS and BGS. | ||||
Contract with Customer, Liability, Revenue Recognized | $ 3,100 | $ 6,249 | $ 13,216 | $ 19,006 |
Customer Financing (Narrative)
Customer Financing (Narrative) (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2019 | Mar. 31, 2019 | Sep. 30, 2019 | Sep. 30, 2018 | Dec. 31, 2018 | |
Customer Financing [Line Items] | |||||
Financing Receivable, Individually Evaluated for Impairment | $ 401 | $ 401 | $ 409 | ||
Impaired Financing Receivable, Recorded Investment | 388 | 388 | 398 | ||
Operative lease incentive | 250 | ||||
Asset Impairment Charges | 106 | $ 63 | |||
Sales-Type and Direct Financing Leases, Lease Income | 15 | 47 | |||
Operating Lease, Lease Income | 34 | 105 | |||
Operating Lease, Variable Lease Income | 6 | 14 | |||
Sales-type, Direct Financing Leases, Residual Value of Leased Asset | $ 403 | $ 403 | $ 425 | ||
B Credit Rating [Member] | |||||
Customer Financing [Line Items] | |||||
Percentage of Credit Default Rates Applied to Customers | 22.10% | 22.10% | |||
BB Credit Rating [Member] | |||||
Customer Financing [Line Items] | |||||
Percentage of Credit Default Rates Applied to Customers | 5.80% | 5.80% | |||
BBB Credit Rating [Member] | |||||
Customer Financing [Line Items] | |||||
Percentage of Credit Default Rates Applied to Customers | 0.60% | 0.60% | |||
Lease Incentive Receivable [Member] | |||||
Customer Financing [Line Items] | |||||
Asset Impairment Charges | $ 250 |
Customer Financing (Schedule Of
Customer Financing (Schedule Of Customer Financing) (Details) - USD ($) $ in Millions | Sep. 30, 2019 | Dec. 31, 2018 |
Customer Financing [Abstract] | ||
Investment in sales-type/finance leases | $ 1,016 | $ 1,125 |
Notes | 446 | 730 |
Total financing receivables | 1,462 | 1,855 |
Operating lease equipment, at cost, less accumulated depreciation of $245 and $203 | 789 | 782 |
Operative lease incentive | 250 | |
Gross customer financing | 2,251 | 2,887 |
Less allowance for losses on receivables | (8) | (9) |
Total | 2,243 | 2,878 |
Operating lease equipment- Accumulated depreciation | $ 245 | $ 203 |
Customer Financing (Financing R
Customer Financing (Financing Receivable Credit Quality Indicators) (Details) - USD ($) $ in Millions | Sep. 30, 2019 | Dec. 31, 2018 |
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Carrying value of financing receivables | $ 1,462 | $ 1,855 |
BBB Credit Rating [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Carrying value of financing receivables | 594 | 883 |
BB Credit Rating [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Carrying value of financing receivables | 348 | 430 |
B Credit Rating [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Carrying value of financing receivables | 125 | 135 |
CCC Credit Rating [Member] | ||
Financing Receivable, Credit Quality Indicator [Line Items] | ||
Carrying value of financing receivables | $ 395 | $ 407 |
Customer Financing (Carrying Va
Customer Financing (Carrying Values Related to Major Aircraft Concentrations) (Details) - USD ($) $ in Millions | Sep. 30, 2019 | Dec. 31, 2018 |
Customer Financing [Line Items] | ||
Customer financing carrying value | $ 2,251 | $ 2,887 |
Operating leases | 789 | 782 |
B-717 [Member] | ||
Customer Financing [Line Items] | ||
Customer financing carrying value | 778 | 918 |
Operating leases | 184 | 204 |
B747-8 [Member] | ||
Customer Financing [Line Items] | ||
Customer financing carrying value | 474 | 477 |
Operating leases | 130 | 132 |
B-737 [Member] | ||
Customer Financing [Line Items] | ||
Customer financing carrying value | 266 | 290 |
Operating leases | 243 | 263 |
B-757 [Member] | ||
Customer Financing [Line Items] | ||
Customer financing carrying value | 186 | 200 |
Operating leases | 22 | 24 |
MD 80 Aircraft [Member] | ||
Customer Financing [Line Items] | ||
Customer financing carrying value | 184 | 204 |
B-777 [Member] | ||
Customer Financing [Line Items] | ||
Customer financing carrying value | 131 | 68 |
Operating leases | 126 | 60 |
B747-400 aircraft [Member] | ||
Customer Financing [Line Items] | ||
Customer financing carrying value | 95 | 116 |
Operating leases | $ 33 | $ 45 |
Customer Financing Customer F_2
Customer Financing Customer Financing (Scheduled Receipts of Customer Financing) (Details) - USD ($) $ in Millions | Sep. 30, 2019 | Dec. 31, 2018 |
Sales-type and Direct Financing Leases, Lease Receivable, Rolling Maturity [Abstract] | ||
Sales-type and Direct Financing Leases, Lease Receivable, Payments to be Received, Next Rolling Twelve Months | $ 179 | |
Sales-type and Direct Financing Leases, Lease Receivable, Lease Payments to be Received, Rolling Year Two | 134 | |
Sales-type and Direct Financing Leases, Lease Receivable, Lease Payments to be Received, Rolling Year Three | 97 | |
Sales-type and Direct Financing Leases, Lease Receivable, Payments to be Received, Rolling Year Four | 109 | |
Sales-type and Direct Financing Leases, Lease Receivable, Lease Payments to be Received, Rolling Year Five | 121 | |
Sales-type and Direct Financing Leases, Lease Receivable, Lease Payments to be Received, after Rolling Year Five | 140 | |
Sales-type and Direct Financing Leases, Lease Receivable, Payments to be Received | 780 | |
Sales-type and Direct Financing Leases, Lease Receivable, Undiscounted Excess Amount | (167) | |
Sales-type, Direct Financing Leases, Residual Value of Leased Asset | 403 | $ 425 |
Investment in sales-type/finance leases | 1,016 | $ 1,125 |
Lessor, Operating Lease, Payments, Rolling Maturity [Abstract] | ||
Lessor, Operating Lease, Payments to be Received, Next Rolling Twelve Months | 118 | |
Lessor, Operating Lease, Payments to be Received, Rolling Year Two | 93 | |
Lessor, Operating Lease, Payments to be Received, Rolling Year Three | 83 | |
Lessor, Operating Lease, Payments to be Received, Rolling Year Four | 61 | |
Lessor, Operating Lease, Payments to be Received, Rolling Year Five | 46 | |
Lessor, Operating Lease, Payments to be Received, after Rolling Year Five | 57 | |
Lessor, Operating Lease, Payments to be Received | $ 458 |
Investments (Schedule Of Invest
Investments (Schedule Of Investments) (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||||
Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | Dec. 31, 2018 | ||
Investments [Abstract] | ||||||
Equity method investments | [1] | $ 1,079 | $ 1,079 | $ 1,048 | ||
Time deposits | 529 | 529 | 255 | |||
Available for sale debt instruments | 530 | 530 | 491 | |||
Equity and other investments | 43 | 43 | 44 | |||
Restricted Cash and Cash Equivalents | [2] | 86 | $ 128 | 86 | $ 128 | 176 |
Total | 2,267 | 2,267 | $ 2,014 | |||
Dividends received | $ 60 | $ 79 | $ 153 | $ 222 | ||
[1] | Dividends received were $153 and $60 for the nine and three months ended September 30, 2019 and $222 and $79 during the same periods in the prior year. | |||||
[2] | Reflects amounts restricted in support of our workers’ compensation programs, employee benefit programs, and insurance premiums. |
Other Assets (Narrative) (Detai
Other Assets (Narrative) (Details) - USD ($) $ in Millions | Sep. 30, 2019 | Dec. 31, 2018 |
Other Assets [Line Items] | ||
Other assets, net of accumulated amortization | $ 3,275 | $ 1,826 |
Sea Launch Receivables [Member] | ||
Other Assets [Line Items] | ||
Other assets, net of accumulated amortization | 244 | $ 244 |
Sea Launch Receivables [Member] | S.P. Koroley Rocket And Space Corporation Energia [Member] | ||
Other Assets [Line Items] | ||
Other assets, net of accumulated amortization | 111 | |
Sea Launch Receivables [Member] | PO Yuzhnoye Mashinostroitelny Zavod [Member] | ||
Other Assets [Line Items] | ||
Other assets, net of accumulated amortization | 89 | |
Sea Launch Receivables [Member] | KB Yuzhnoye [Member] | ||
Other Assets [Line Items] | ||
Other assets, net of accumulated amortization | $ 44 |
Leases Leases (Narrative) (Deta
Leases Leases (Narrative) (Details) $ in Millions | 3 Months Ended | 9 Months Ended |
Sep. 30, 2019USD ($) | Sep. 30, 2019USD ($) | |
Lessee Disclosure [Abstract] | ||
Operating Lease, Cost | $ 82 | $ 241 |
Variable Lease, Cost | 15 | 40 |
Operating Lease, Payments | 70 | 205 |
Right-of-Use Asset Obtained in Exchange for Operating Lease Liability | 177 | 315 |
Lessee, Operating Lease, Lease Not yet Commenced, Value | $ 160 | $ 160 |
Lessee, Operating Lease, Lease Not yet Commenced, Term of Contract | 15 years | 15 years |
Leases Schedule of supplemental
Leases Schedule of supplemental balance sheet information related to operating leases (Details) - USD ($) $ in Millions | 9 Months Ended | |
Sep. 30, 2019 | Mar. 31, 2019 | |
Lessor, Lease, Description [Line Items] | ||
Document Period End Date | Sep. 30, 2019 | |
Operating Lease, Right-of-Use Asset | $ 1,178 | |
Operating Lease, Liability, Current | 260 | |
Operating Lease, Liability, Noncurrent | 969 | |
Operating Lease, Liability | $ 1,229 | |
Operating Lease, Weighted Average Remaining Lease Term | 9 years | |
Operating Lease, Weighted Average Discount Rate, Percent | 3.07% | |
Accounting Standards Update 2016-02 [Member] | ||
Lessor, Lease, Description [Line Items] | ||
Operating Lease, Liability | $ 1,229 | $ 1,064 |
Leases Schedule Of Maturities O
Leases Schedule Of Maturities Of Operating Liabilities (Details) $ in Millions | Sep. 30, 2019USD ($) |
Schedule Of Maturities Of Operating Leases [Abstract] | |
Lessee, Operating Lease, Liability, Payments, Due Next Twelve Months | $ 292 |
Lessee, Operating Lease, Liability, Payments, Due in Rolling Year Two | 238 |
Lessee, Operating Lease, Liability, Payments, Due in Rolling Year Three | 190 |
Lessee, Operating Lease, Liability, Payments, Due in Rolling Year Four | 153 |
Lessee, Operating Lease, Liability, Payments, Due in Rolling Year Five | 93 |
Lessee, Operating Lease, Liability, Payments, Due after Rolling Year Five | 598 |
Lessee, Operating Lease, Liability, Payments, Due | 1,564 |
Lessee, Operating Lease, Liability, Undiscounted Excess Amount | (335) |
Operating Lease, Liability | $ 1,229 |
Commitments And Contingencies_2
Commitments And Contingencies (Narrative) (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | 12 Months Ended | |||||||||
Sep. 30, 2019 | Jun. 30, 2019 | Mar. 31, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Dec. 31, 2016 | Sep. 27, 2019 | Dec. 31, 2018 | Sep. 10, 2018 | Jan. 27, 2017 | Dec. 31, 2011 | ||
Commitments And Contingencies [Line Items] | ||||||||||||
Document Period End Date | Sep. 30, 2019 | |||||||||||
Loss Contingency, Range of Possible Loss, Portion Not Accrued | $ 1,064 | $ 1,064 | $ 796 | |||||||||
Letters of Credit Outstanding, Amount | 3,598 | 3,598 | 3,761 | |||||||||
Liabilities, Current | 91,846 | 91,846 | 81,590 | |||||||||
Financing Commitment [Member] | ||||||||||||
Commitments And Contingencies [Line Items] | ||||||||||||
Other Commitment | 15,607 | 15,607 | 19,462 | |||||||||
joint venture [Member] | ||||||||||||
Commitments And Contingencies [Line Items] | ||||||||||||
Other Commitment | 246 | 246 | ||||||||||
Total Contractual Trade-In Commitment [Member] | Commercial Aircraft Commitments [Member] | ||||||||||||
Commitments And Contingencies [Line Items] | ||||||||||||
Other Commitment | 1,421 | 1,421 | 1,519 | |||||||||
Net Amounts Payable to Customers Related to Probable Contractual Trade-In Commitments [Member] | Commercial Aircraft Commitments [Member] | ||||||||||||
Commitments And Contingencies [Line Items] | ||||||||||||
Other Commitment | 723 | 723 | 522 | |||||||||
Fair Value of Trade In Value of Aircraft [Member] | Commercial Aircraft Commitments [Member] | ||||||||||||
Commitments And Contingencies [Line Items] | ||||||||||||
Other Commitment | 690 | 690 | $ 485 | |||||||||
KC-46A Tanker [Member] | Capitalized Precontract Costs [Member] | ||||||||||||
Commitments And Contingencies [Line Items] | ||||||||||||
Loss Contingency, Estimate of Possible Loss | 304 | 304 | ||||||||||
KC-46A Tanker [Member] | Potential Termination Liabilities [Member] | ||||||||||||
Commitments And Contingencies [Line Items] | ||||||||||||
Loss Contingency, Estimate of Possible Loss | 150 | 150 | ||||||||||
KC-46A Tanker [Member] | EMD Contract | ||||||||||||
Commitments And Contingencies [Line Items] | ||||||||||||
Contract Value | $ 4,900 | |||||||||||
KC-46A Tanker [Member] | Low Rate Initial Production [Member] | ||||||||||||
Commitments And Contingencies [Line Items] | ||||||||||||
Contract Value2 | $ 2,800 | |||||||||||
KC-46A Tanker [Member] | LRIP 3 [Member] | ||||||||||||
Commitments And Contingencies [Line Items] | ||||||||||||
Contract Value | $ 2,100 | |||||||||||
KC-46A Tanker [Member] | LRIP 4 [Member] [Domain] | ||||||||||||
Commitments And Contingencies [Line Items] | ||||||||||||
Contract Value | $ 2,900 | |||||||||||
KC-46A Tanker [Member] | LRIP 5 [Member] [Domain] | ||||||||||||
Commitments And Contingencies [Line Items] | ||||||||||||
Contract Value | $ 2,600 | |||||||||||
TX-Trainer [Member] | ||||||||||||
Commitments And Contingencies [Line Items] | ||||||||||||
Loss on Contracts | $ 400 | |||||||||||
MQ-25 [Member] | ||||||||||||
Commitments And Contingencies [Line Items] | ||||||||||||
Loss on Contracts | $ 291 | |||||||||||
B-737 [Member] | ||||||||||||
Commitments And Contingencies [Line Items] | ||||||||||||
Aircraft Program Costs, Increase | 872 | $ 1,748 | $ 1,016 | |||||||||
Operating Segments [Member] | Commercial Airplanes Segment [Member] | B-737-Max [Member] | ||||||||||||
Commitments And Contingencies [Line Items] | ||||||||||||
Estimated Insurance Recoveries | 500 | |||||||||||
Proceeds from Insurance Settlement, Operating Activities | 500 | |||||||||||
Operating Segments [Member] | Commercial Airplanes Segment [Member] | Customer Concessions [Member] | B-737-Max [Member] | ||||||||||||
Commitments And Contingencies [Line Items] | ||||||||||||
Revenue from Contract with Customer, Excluding Assessed Tax | (5,610) | (5,610) | [1] | |||||||||
Liabilities, Current | 6,110 | $ 6,110 | ||||||||||
Payments, concessions and other in-kind considerations to customers | $ 252 | |||||||||||
[1] | Net of insurance recoveries |
Commitments And Contingencies_3
Commitments And Contingencies (Environmental) (Details) - USD ($) $ in Millions | 9 Months Ended | |
Sep. 30, 2019 | Sep. 30, 2018 | |
Environmental [Roll Forward] | ||
Beginning balance – January 1 | $ 555 | $ 524 |
Reductions for payments made | (34) | (17) |
Changes in estimates | 61 | 61 |
Ending balance – September 30 | $ 582 | $ 568 |
Commitments And Contingencies_4
Commitments And Contingencies (Product Warranties) (Details) - USD ($) $ in Millions | 9 Months Ended | |
Sep. 30, 2019 | Sep. 30, 2018 | |
Product Warranties [Roll Forward] | ||
Beginning balance – January 1 | $ 1,127 | $ 1,211 |
Additions for current year deliveries | 128 | 176 |
Reductions for payments made | (166) | (135) |
Changes in estimates | (7) | (151) |
Ending balance – September 30 | $ 1,082 | $ 1,101 |
Commitments And Contingencies_5
Commitments And Contingencies (Financing Commitments) (Details) - Financing Commitment [Member] - USD ($) $ in Millions | Sep. 30, 2019 | Dec. 31, 2018 |
Financing Commitments [Line Items] | ||
October through December 2019 | $ 560 | |
2018 | 3,104 | |
2019 | 2,989 | |
2020 | 1,348 | |
2021 | 2,169 | |
Thereafter | 5,437 | |
Total | 15,607 | $ 19,462 |
External Credit Rating, Non Investment Grade [Member] | ||
Financing Commitments [Line Items] | ||
Total | $ 15,452 |
Arrangements With Off-Balance_3
Arrangements With Off-Balance Sheet Risk (Narrative) (Details) - USD ($) $ in Millions | 1 Months Ended | |||
Dec. 31, 2011 | Jun. 30, 2011 | Sep. 30, 2019 | Dec. 31, 2018 | |
ULA [Member] | ||||
Guarantees [Line Items] | ||||
Delta launch program inventories included in contributed assets | $ 1,360 | |||
Delta launch program inventories subject to inventory supply agreement | 1,860 | |||
Contributed Delta Program Launch Inventory [Member] | ULA [Member] | ||||
Guarantees [Line Items] | ||||
Maximum Potential Payments | 30 | $ 52 | ||
Other Delta Contracts [Member] | Deferred support costs [Member] | ||||
Guarantees [Line Items] | ||||
Maximum Potential Payments | 85 | |||
Additional potentially unrecoverable deferred production costs | $ 271 | |||
Other Delta Contracts [Member] | Deferred production costs [Member] | ||||
Guarantees [Line Items] | ||||
Maximum Potential Payments | 91 | |||
Additional potentially unrecoverable deferred production costs | $ 114 | |||
Other Delta Contracts [Member] | ULA [Member] | ||||
Guarantees [Line Items] | ||||
Maximum Potential Payments | 176 | 176 | ||
Carrying Amount of Liabilities | ||||
Deferred Support and Production Costs [Member] | ||||
Guarantees [Line Items] | ||||
Loss Contingency, Estimate of Possible Loss | 317 | |||
Credit Guarantee [Member] | ||||
Guarantees [Line Items] | ||||
Maximum Potential Payments | 92 | 106 | ||
Carrying Amount of Liabilities | $ 16 | $ 16 |
Arrangements With Off-Balance_4
Arrangements With Off-Balance Sheet Risk (Third Party Guarantees) (Details) - USD ($) $ in Millions | Sep. 30, 2019 | Dec. 31, 2018 |
Credit Guarantee [Member] | ||
Guarantor Obligations [Line Items] | ||
Maximum Potential Payments | $ 92 | $ 106 |
Estimated Proceeds from Collateral or Recourse | 33 | 51 |
Carrying Amount of Liabilities | 16 | 16 |
Contingent Repurchase Commitments [Member] | ||
Guarantor Obligations [Line Items] | ||
Maximum Potential Payments | 1,599 | 1,685 |
Estimated Proceeds from Collateral or Recourse | 1,599 | 1,685 |
Carrying Amount of Liabilities | ||
ULA [Member] | Contributed Delta Program Launch Inventory [Member] | ||
Guarantor Obligations [Line Items] | ||
Maximum Potential Payments | 30 | 52 |
ULA [Member] | Other Delta Contracts [Member] | ||
Guarantor Obligations [Line Items] | ||
Maximum Potential Payments | 176 | 176 |
Carrying Amount of Liabilities | ||
Deferred support costs [Member] | Other Delta Contracts [Member] | ||
Guarantor Obligations [Line Items] | ||
Maximum Potential Payments | 85 | |
Deferred production costs [Member] | Other Delta Contracts [Member] | ||
Guarantor Obligations [Line Items] | ||
Maximum Potential Payments | $ 91 |
Debt Narrative (Details)
Debt Narrative (Details) - USD ($) $ in Millions | 3 Months Ended | ||
Sep. 30, 2019 | Jun. 30, 2019 | Mar. 31, 2019 | |
Debt Instrument [Line Items] | |||
Debt Instrument, Face Amount | $ 5,500 | $ 3,500 | $ 1,500 |
Proceeds from Debt, Net of Issuance Costs | 5,442 | 3,454 | 1,451 |
Debt Instrument, Unused Borrowing Capacity, Amount | 6,620 | ||
Two Point Eight Percent due on March 1, 2024 [Member] | |||
Debt Instrument [Line Items] | |||
Debt Instrument, Face Amount | $ 400 | ||
Debt Instrument, Maturity Date | Mar. 1, 2024 | ||
Debt Instrument, Interest Rate, Stated Percentage | 2.80% | ||
Three Point Two Percent due on March 1, 2029 [Member] | |||
Debt Instrument [Line Items] | |||
Debt Instrument, Face Amount | $ 600 | $ 400 | |
Debt Instrument, Maturity Date | Mar. 1, 2029 | Mar. 1, 2029 | |
Debt Instrument, Interest Rate, Stated Percentage | 3.20% | 3.20% | |
Three Point Six Percent Due May 1, 2034 [Member] | |||
Debt Instrument [Line Items] | |||
Debt Instrument, Face Amount | $ 850 | ||
Debt Instrument, Maturity Date | May 1, 2034 | ||
Debt Instrument, Interest Rate, Stated Percentage | 3.60% | ||
Three Point Nine Percent Due May 1, 2049 [Member] | |||
Debt Instrument [Line Items] | |||
Debt Instrument, Face Amount | $ 800 | ||
Debt Instrument, Maturity Date | May 1, 2049 | ||
Debt Instrument, Interest Rate, Stated Percentage | 3.90% | ||
Three Point Five Percent due on March 1, 2039 [Member] [Member] | |||
Debt Instrument [Line Items] | |||
Debt Instrument, Face Amount | $ 400 | ||
Debt Instrument, Maturity Date | Mar. 1, 2039 | ||
Debt Instrument, Interest Rate, Stated Percentage | 3.50% | ||
Three Point Eight Two Five Percent due on March 1, 2059 [Member] | |||
Debt Instrument [Line Items] | |||
Debt Instrument, Face Amount | $ 300 | ||
Debt Instrument, Maturity Date | Mar. 1, 2059 | ||
Debt Instrument, Interest Rate, Stated Percentage | 3.825% | ||
Two Point Seven Percent due on May 1, 2022 [Member] | |||
Debt Instrument [Line Items] | |||
Debt Instrument, Face Amount | $ 600 | ||
Debt Instrument, Maturity Date | May 1, 2022 | ||
Debt Instrument, Interest Rate, Stated Percentage | 2.70% | ||
Three Point One Percent Due May 1, 2026 [Member] | |||
Debt Instrument [Line Items] | |||
Debt Instrument, Face Amount | $ 650 | ||
Debt Instrument, Maturity Date | May 1, 2026 | ||
Debt Instrument, Interest Rate, Stated Percentage | 3.10% | ||
Two Point Three Percent due on August 1, 2021 [Member] | |||
Debt Instrument [Line Items] | |||
Debt Instrument, Face Amount | $ 750 | ||
Debt Instrument, Maturity Date | Aug. 1, 2021 | ||
Debt Instrument, Interest Rate, Stated Percentage | 2.30% | ||
Two Point Seven Percent due on February 1, 2027 [Member] | |||
Debt Instrument [Line Items] | |||
Debt Instrument, Face Amount | $ 1,000 | ||
Debt Instrument, Maturity Date | Feb. 1, 2027 | ||
Debt Instrument, Interest Rate, Stated Percentage | 2.70% | ||
Two Point Ninety-Five Percent due on February 1, 2030 [Member] | |||
Debt Instrument [Line Items] | |||
Debt Instrument, Face Amount | $ 750 | ||
Debt Instrument, Maturity Date | Feb. 1, 2030 | ||
Debt Instrument, Interest Rate, Stated Percentage | 2.95% | ||
Three Point Two Five Percent due on February 1, 2035 [Member] | |||
Debt Instrument [Line Items] | |||
Debt Instrument, Face Amount | $ 750 | ||
Debt Instrument, Maturity Date | Feb. 1, 2035 | ||
Debt Instrument, Interest Rate, Stated Percentage | 3.25% | ||
Three Point Seven Five Percent due on February 1, 2050 [Member] | |||
Debt Instrument [Line Items] | |||
Debt Instrument, Face Amount | $ 1,250 | ||
Debt Instrument, Maturity Date | Feb. 1, 2050 | ||
Debt Instrument, Interest Rate, Stated Percentage | 3.75% | ||
Three Point Nine Five Percent due on August 1, 2059 [Member] | |||
Debt Instrument [Line Items] | |||
Debt Instrument, Face Amount | $ 1,000 | ||
Debt Instrument, Maturity Date | Aug. 1, 2059 | ||
Debt Instrument, Interest Rate, Stated Percentage | 3.95% | ||
Short Term Credit Facility [Member] | Revolving Credit Facility [Member] | |||
Debt Instrument [Line Items] | |||
Line of Credit Facility, Maximum Borrowing Capacity | $ 1,500 |
Postretirement Plans (Net Perio
Postretirement Plans (Net Periodic Benefit Cost Tables) (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | |
Pension Plan [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Service cost | $ 107 | $ 2 | $ 322 | |
Interest cost | 731 | 696 | 2,193 | 2,086 |
Expected return on plan assets | (966) | (1,002) | (2,896) | (3,007) |
Amortization of prior service credits | (19) | (14) | (59) | (42) |
Recognized net actuarial loss | 161 | 282 | 482 | 847 |
Defined Benefit Plan, Net Periodic Benefit Cost (Credit), Gain (Loss) Due to Settlement and Curtailment | (43) | |||
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) | (93) | 69 | (278) | 249 |
Other Postretirement Benefits Plan [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Service cost | 19 | 24 | 58 | 71 |
Interest cost | 49 | 48 | 147 | 145 |
Expected return on plan assets | (2) | (2) | (6) | (6) |
Amortization of prior service credits | (8) | (31) | (26) | (94) |
Recognized net actuarial loss | (12) | (3) | (35) | (8) |
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) | 46 | 36 | 138 | 108 |
Operating Income (Loss) [Member] | Pension Plan [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Net periodic benefit cost included in Earnings from operations | 76 | 79 | 234 | 237 |
Operating Income (Loss) [Member] | Other Postretirement Benefits Plan [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Net periodic benefit cost included in Earnings from operations | 21 | 21 | 66 | 63 |
Other Income [Member] | Pension Plan [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Net periodic benefit cost included in Earnings from operations | (93) | (50) | (280) | (98) |
Other Income [Member] | Other Postretirement Benefits Plan [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Net periodic benefit cost included in Earnings from operations | 27 | 29 | 80 | 77 |
Operating Income (Loss) Before Taxes [Member] | Pension Plan [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Net periodic benefit cost included in Earnings from operations | (17) | 29 | (46) | 139 |
Operating Income (Loss) Before Taxes [Member] | Other Postretirement Benefits Plan [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Net periodic benefit cost included in Earnings from operations | $ 48 | $ 50 | $ 146 | $ 140 |
Share-Based Compensation And _2
Share-Based Compensation And Other Compensation Arrangements (Narrative) (Details) - USD ($) $ / shares in Units, $ in Millions | Feb. 25, 2019 | Sep. 30, 2019 |
Restricted Stock Units (RSUs) [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Restricted stock units (RSUs) granted to executives | 233,582 | |
Restricted stock units (RSUs) granted to executives (fair value per share) | $ 428.22 | |
Share-based payment award vesting period (in years) | 3 years | |
Performance Based Restricted Stock Units (PBRSUs) [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Restricted stock units (RSUs) granted to executives (fair value per share) | $ 466.04 | |
Share-based payment award vesting period (in years) | 3 years | |
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Volatility Rate | 23.88% | |
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Risk Free Interest Rate | 2.46% | |
Performance Awards [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Share-based payment award vesting period (in years) | 3 years | |
Performance award period end date | Dec. 31, 2021 | |
Performance Awards [Member] | Minimum [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Payout Amount, Aggregate | $ 0 | |
2019 PBRSU [Member] | Performance Based Restricted Stock Units (PBRSUs) [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Restricted stock units (RSUs) granted to executives | 214,651 | |
2019 performance awards [Member] | Performance Awards [Member] | Maximum [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Payout Amount, Aggregate | $ 393 |
Shareholders' Equity (Accumulat
Shareholders' Equity (Accumulated other comprehensive income) (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | ||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||||
Beginning Balance | [1] | $ (14,908) | $ (16,139) | $ (15,083) | $ (16,373) |
OCI before reclassifications | [1] | (139) | (3) | (149) | (152) |
Amounts reclassified from AOCI | [1] | 120 | 193 | 305 | 576 |
Net current period Other comprehensive income/(loss) | [1] | (19) | 190 | 156 | 424 |
Ending Balance | [1] | (14,927) | (15,949) | (14,927) | (15,949) |
Other Comprehensive Income (Loss), Defined Benefit Plan, Gain (Loss), Reclassification Adjustment from AOCI, after Tax | 117 | 219 | 350 | 657 | |
Amortization of actuarial losses included in net periodic pension cost, tax | (32) | (60) | (97) | (182) | |
Currency Translation Adjustments [Member] | |||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||||
Beginning Balance | (103) | (72) | (101) | (15) | |
OCI before reclassifications | (59) | 2 | (61) | (55) | |
Net current period Other comprehensive income/(loss) | (59) | 2 | (61) | (55) | |
Ending Balance | (162) | (70) | (162) | (70) | |
Unrealized Gains and Losses on Certain Investments [Member] | |||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||||
Beginning Balance | 1 | 1 | (2) | ||
OCI before reclassifications | 1 | 3 | |||
Net current period Other comprehensive income/(loss) | 1 | 3 | |||
Ending Balance | 1 | 1 | 1 | 1 | |
Unrealized Gains and Losses on Derivative Instruments [Member] | |||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||||
Beginning Balance | (82) | (29) | (62) | 54 | |
OCI before reclassifications | (89) | (4) | (106) | (97) | |
Amounts reclassified from AOCI | 25 | 9 | 22 | 19 | |
Net current period Other comprehensive income/(loss) | (64) | 5 | (84) | (78) | |
Ending Balance | (146) | (24) | (146) | (24) | |
Defined Benefit Pension Plans and Other Postretirement Benefits [Member] | |||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||||
Beginning Balance | (14,724) | (16,039) | (14,920) | (16,410) | |
OCI before reclassifications | 9 | (1) | 17 | (3) | |
Amounts reclassified from AOCI | [2] | 95 | 184 | 283 | 557 |
Net current period Other comprehensive income/(loss) | 104 | 183 | 300 | 554 | |
Ending Balance | $ (14,620) | $ (15,856) | $ (14,620) | $ (15,856) | |
[1] | Net of tax. | ||||
[2] | Primarily relates to amortization of actuarial losses for the nine and three months ended September 30, 2018 totaling $657 and $219 (net of tax of ($182) and ($60) ) and for the nine and three months ended September 30, 2019 totaling $350 and $117 (net of tax of ($97) and ($32) ). |
Derivative Financial Instrume_3
Derivative Financial Instruments (Narrative) (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | |
Derivative [Line Items] | ||||
Cash flow hedge gain/(loss) to be reclassified during the next 12 months, pre-tax | $ (15) | |||
Fair value of foreign exchange and commodity contracts that have credit-risk-related contingent features that are in a net liability position | $ 42 | 42 | ||
Foreign Exchange Contract [Member] | ||||
Derivative [Line Items] | ||||
Derivative, Gain (Loss) on Derivative, Net | $ (1) | $ (1) | $ 1 | $ (2) |
Gain from Components Excluded from Assessment of Cash Flow Hedge Effectiveness | $ 5 | |||
Loss from Components Excluded from Assessment of Cash Flow Hedge Effectiveness | $ 0 |
Derivative Financial Instrume_4
Derivative Financial Instruments (Schedule of Derivative Instruments, Notional Amounts and Fair Values) (Details) - USD ($) $ in Millions | Sep. 30, 2019 | Dec. 31, 2018 | |
Derivative [Line Items] | |||
Derivative, Notional Amount | [1] | $ 6,064 | $ 4,481 |
Other Assets | 27 | 52 | |
Accrued Liabilities | (216) | (136) | |
Netting Arrangements, Other Assets | (20) | (24) | |
Netting Arrangements, Accrued Liabilities | 20 | 24 | |
Net Recorded balance, Other Assets | 7 | 28 | |
Net Recorded balance, Accrued Liabilities | (196) | (112) | |
Designated as Hedging Instrument [Member] | Foreign Exchange Contract [Member] | |||
Derivative [Line Items] | |||
Derivative, Notional Amount | 2,733 | 3,407 | |
Other Assets | 17 | 32 | |
Accrued Liabilities | (105) | (132) | |
Designated as Hedging Instrument [Member] | Interest Rate Contract [Member] | |||
Derivative [Line Items] | |||
Derivative, Notional Amount | 125 | 125 | |
Designated as Hedging Instrument [Member] | Commodity Contract [Member] | |||
Derivative [Line Items] | |||
Derivative, Notional Amount | 669 | 57 | |
Other Assets | 4 | 9 | |
Accrued Liabilities | (93) | (2) | |
Not Designated as Hedging Instrument [Member] | Foreign Exchange Contract [Member] | |||
Derivative [Line Items] | |||
Derivative, Notional Amount | 824 | 414 | |
Other Assets | 6 | 11 | |
Accrued Liabilities | (18) | (2) | |
Not Designated as Hedging Instrument [Member] | Commodity Contract [Member] | |||
Derivative [Line Items] | |||
Derivative, Notional Amount | $ 1,713 | $ 478 | |
[1] | Notional amounts represent the gross contract/notional amount of the derivatives outstanding. |
Derivative Financial Instrume_5
Derivative Financial Instruments (Schedule Of Derivative Instruments, Gains/(Losses)) (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | |
Foreign Exchange Contract [Member] | ||||
Derivative [Line Items] | ||||
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), before Reclassification and Tax | $ (34) | $ 4 | $ (6) | $ (80) |
Commodity Contract [Member] | ||||
Derivative [Line Items] | ||||
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), before Reclassification and Tax | $ (30) | $ 1 | $ (78) | $ 2 |
Derivative Financial Instrume_6
Derivative Financial Instruments Derivative Financial Instruments (Schedule of Gains/(losses) reclassified from AOCI to Earnings) (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | |
Operating Expense [Member] | ||||
Derivative [Line Items] | ||||
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), Reclassification, before Tax | $ 1 | $ 1 | $ 1 | |
General and Administrative Expense [Member] | ||||
Derivative [Line Items] | ||||
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), Reclassification, before Tax | 1 | 1 | 1 | |
Sales [Member] | ||||
Derivative [Line Items] | ||||
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), Reclassification, before Tax | (6) | |||
Operating Expense [Member] | ||||
Derivative [Line Items] | ||||
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), Reclassification, before Tax | (9) | (9) | (21) | (17) |
General and Administrative Expense [Member] | ||||
Derivative [Line Items] | ||||
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), Reclassification, before Tax | $ (18) | $ (5) | $ (9) | $ (8) |
Fair Value Measurements Fair Va
Fair Value Measurements Fair Value, Assets and Liabilities Measured on Recurring Basis (Details) - USD ($) $ in Millions | Sep. 30, 2019 | Dec. 31, 2018 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Derivatives, Assets | $ 7 | $ 28 |
Derivatives, Liabilities | (196) | (112) |
Fair Value, Recurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Money market funds | 1,371 | 1,737 |
Commercial Paper, at Carrying Value | 146 | 78 |
Available for sale debt instruments | 352 | 420 |
Available for Sale Securities, Government Agencies | 109 | |
Investments, Fair Value Disclosure | 10 | 12 |
Derivatives, Assets | 7 | 28 |
Total assets | 1,995 | 2,275 |
Derivatives, Liabilities | (196) | (112) |
Total liabilities | (196) | (112) |
Fair Value, Recurring [Member] | Level 1 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Money market funds | 1,371 | 1,737 |
Available for Sale Securities, Government Agencies | 109 | |
Investments, Fair Value Disclosure | 10 | 12 |
Total assets | 1,490 | 1,749 |
Fair Value, Recurring [Member] | Level 2 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Commercial Paper, at Carrying Value | 146 | 78 |
Available for sale debt instruments | 352 | 420 |
Derivatives, Assets | 7 | 28 |
Total assets | 505 | 526 |
Derivatives, Liabilities | (196) | (112) |
Total liabilities | $ (196) | $ (112) |
Fair Value Measurements Fair _2
Fair Value Measurements Fair Value, Assets Measured on Nonrecurring Basis Using Unobservable Inputs (Details) - USD ($) $ in Millions | 9 Months Ended | |
Sep. 30, 2019 | Sep. 30, 2018 | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Nonrecurring fair value losses | $ (106) | $ (63) |
Fair Value Measurements Nonrecurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Nonrecurring fair value losses | (106) | (63) |
Fair Value Measurements Nonrecurring [Member] | Level 3 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, Fair Value Disclosure | 105 | 45 |
Operating Lease Equipment And Assets Held For Sale Or Re-Lease [Member] | Fair Value Measurements Nonrecurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Nonrecurring fair value losses | (1) | (16) |
Operating Lease Equipment And Assets Held For Sale Or Re-Lease [Member] | Fair Value Measurements Nonrecurring [Member] | Level 3 [Member] | Valuation, Market Approach [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, Fair Value Disclosure | 10 | 45 |
Property, Plant and Equipment [Member] | Fair Value Measurements Nonrecurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Nonrecurring fair value losses | (4) | |
Property, Plant and Equipment [Member] | Fair Value Measurements Nonrecurring [Member] | Level 3 [Member] | Valuation, Income Approach [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, Fair Value Disclosure | 41 | |
Investments [Member] | Fair Value Measurements Nonrecurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Nonrecurring fair value losses | (84) | $ (47) |
Investments [Member] | Fair Value Measurements Nonrecurring [Member] | Level 3 [Member] | Valuation, Income Approach [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, Fair Value Disclosure | 51 | |
Other assets and Acquired intangible assets [Member] | Fair Value Measurements Nonrecurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Nonrecurring fair value losses | (17) | |
Other assets and Acquired intangible assets [Member] | Fair Value Measurements Nonrecurring [Member] | Level 3 [Member] | Valuation, Income Approach [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Assets, Fair Value Disclosure | $ 3 |
Fair Value Measurements Fair _3
Fair Value Measurements Fair Value, Assets Measured On Nonrecurring Basis, Valuation Techniques (Details) $ in Millions | Sep. 30, 2019USD ($) |
Aircraft Value Publications [Member] | |
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | |
Fair value of assets and liabilities measured on nonrecurring basis valuation techniques, median | $ 16 |
Aircraft Value Publications [Member] | Minimum [Member] | |
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | |
Range of fair value of assets measured on nonrecurring basis valuation techniques | 12 |
Aircraft Value Publications [Member] | Maximum [Member] | |
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | |
Range of fair value of assets measured on nonrecurring basis valuation techniques | 20 |
Aircraft Condition Adjustments [Member] | |
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | |
Net fair value of assets measured on nonrecurring basis valuation techniques | (6) |
Aircraft Condition Adjustments [Member] | Minimum [Member] | |
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | |
Range of fair value of assets measured on nonrecurring basis valuation techniques | (6) |
Aircraft Condition Adjustments [Member] | Maximum [Member] | |
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | |
Range of fair value of assets measured on nonrecurring basis valuation techniques | $ 0 |
Fair Value Measurements Fair _4
Fair Value Measurements Fair Values And Related Carrying Values of Financial Instruments (Details) - USD ($) $ in Millions | Sep. 30, 2019 | Dec. 31, 2018 |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Notes receivable, Fair value | $ 451 | $ 735 |
Debt, excluding capital lease obligations, Fair value | (24,518) | (12,746) |
Level 2 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Notes receivable, Fair value | 451 | 735 |
Debt, excluding capital lease obligations, Fair value | (24,480) | (12,682) |
Level 3 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Debt, excluding capital lease obligations, Fair value | (38) | (64) |
Carrying Amount [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Notes receivable, net Carrying amount | 446 | 730 |
Debt, excluding capital lease obligations, Carrying amount | $ (21,432) | $ (11,796) |
Segment and Revenue Informati_3
Segment and Revenue Information Segment and Revenue Information (Narrative) (Details) $ in Millions | 9 Months Ended |
Sep. 30, 2019USD ($)segments | |
Segment Reporting Information [Line Items] | |
Number of Reportable Segments | segments | 4 |
Revenue, Remaining Performance Obligation, Amount | $ | $ 470,225 |
Within Next 2 Fiscal Years [Member] | |
Segment Reporting Information [Line Items] | |
Revenue, Remaining Performance Obligation, Percent Recognized | 26.00% |
Within Next 5 Fiscal Years [Member] | |
Segment Reporting Information [Line Items] | |
Revenue, Remaining Performance Obligation, Percent Recognized | 72.00% |
Segment and Revenue Informati_4
Segment and Revenue Information Segment and Revenue Information (Schedule of Revenue Disaggregation) (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | ||
Disaggregation of Revenue [Line Items] | |||||
Revenues | $ 19,980 | $ 25,146 | $ 58,648 | $ 72,786 | |
Unallocated items, eliminations and other [Member] | |||||
Disaggregation of Revenue [Line Items] | |||||
Revenues | (35) | (40) | (437) | (62) | |
Global Services [Member] | Operating Segments [Member] | |||||
Disaggregation of Revenue [Line Items] | |||||
Revenues | 4,658 | 4,101 | 13,820 | 12,148 | |
Global Services [Member] | Operating Segments [Member] | Commercial Customers [Member] | |||||
Disaggregation of Revenue [Line Items] | |||||
Revenue from Contract with Customer, Excluding Assessed Tax | 2,510 | 2,167 | 7,621 | 6,419 | |
Global Services [Member] | Operating Segments [Member] | Government Customers [Member] | |||||
Disaggregation of Revenue [Line Items] | |||||
Revenue from Contract with Customer, Excluding Assessed Tax | 2,101 | 1,882 | 6,075 | 5,584 | |
Global Services [Member] | Operating Segments [Member] | External Customers [Member] | |||||
Disaggregation of Revenue [Line Items] | |||||
Revenue from Contract with Customer, Excluding Assessed Tax | $ 4,611 | $ 4,049 | $ 13,696 | $ 12,003 | |
Global Services [Member] | Operating Segments [Member] | U S Government Contracts [Member] | |||||
Disaggregation of Revenue [Line Items] | |||||
Revenue from Contract with Customer, excluding assessed tax, Percentage | 35.00% | 32.00% | 33.00% | 32.00% | |
Global Services [Member] | Operating Segments [Member] | Fixed-price Contract [Member] | |||||
Disaggregation of Revenue [Line Items] | |||||
Revenue from Contract with Customer, excluding assessed tax, Percentage | 90.00% | 85.00% | 89.00% | 88.00% | |
Global Services [Member] | Operating Segments [Member] | Transferred at Point in Time [Member] | |||||
Disaggregation of Revenue [Line Items] | |||||
Revenue from Contract with Customer, excluding assessed tax, Percentage | 54.00% | 52.00% | 56.00% | 52.00% | |
Global Services [Member] | Unallocated items, eliminations and other [Member] | |||||
Disaggregation of Revenue [Line Items] | |||||
Revenues | $ 47 | $ 52 | $ 124 | $ 145 | |
Commercial Airplanes Segment [Member] | Operating Segments [Member] | |||||
Disaggregation of Revenue [Line Items] | |||||
Revenues | 8,249 | 14,071 | 24,793 | 40,968 | |
Commercial Airplanes Segment [Member] | Operating Segments [Member] | External Customers [Member] | |||||
Disaggregation of Revenue [Line Items] | |||||
Revenue from Contract with Customer, Excluding Assessed Tax | $ 8,242 | $ 14,063 | $ 24,609 | $ 40,941 | |
Commercial Airplanes Segment [Member] | Operating Segments [Member] | Fixed-price Contract [Member] | |||||
Disaggregation of Revenue [Line Items] | |||||
Revenue from Contract with Customer, excluding assessed tax, Percentage | 100.00% | 100.00% | 100.00% | 100.00% | |
Commercial Airplanes Segment [Member] | Operating Segments [Member] | Transferred at Point in Time [Member] | |||||
Disaggregation of Revenue [Line Items] | |||||
Revenue from Contract with Customer, excluding assessed tax, Percentage | 100.00% | 99.00% | 100.00% | 100.00% | |
Commercial Airplanes Segment [Member] | Operating Segments [Member] | Non-US [Member] | |||||
Disaggregation of Revenue [Line Items] | |||||
Revenue from Contract with Customer, Excluding Assessed Tax | $ 5,238 | $ 11,141 | $ 19,628 | $ 30,117 | |
Commercial Airplanes Segment [Member] | Operating Segments [Member] | Europe | |||||
Disaggregation of Revenue [Line Items] | |||||
Revenue from Contract with Customer, Excluding Assessed Tax | 1,260 | 1,882 | 3,944 | 7,189 | |
Commercial Airplanes Segment [Member] | Operating Segments [Member] | China | |||||
Disaggregation of Revenue [Line Items] | |||||
Revenue from Contract with Customer, Excluding Assessed Tax | 1,237 | 4,677 | 4,393 | 9,433 | |
Commercial Airplanes Segment [Member] | Operating Segments [Member] | Asia Other Than China | |||||
Disaggregation of Revenue [Line Items] | |||||
Revenue from Contract with Customer, Excluding Assessed Tax | 1,454 | 1,886 | 5,832 | 5,966 | |
Commercial Airplanes Segment [Member] | Operating Segments [Member] | Middle East | |||||
Disaggregation of Revenue [Line Items] | |||||
Revenue from Contract with Customer, Excluding Assessed Tax | 1,121 | 1,598 | 2,926 | 3,931 | |
Commercial Airplanes Segment [Member] | Operating Segments [Member] | Other | |||||
Disaggregation of Revenue [Line Items] | |||||
Revenue from Contract with Customer, Excluding Assessed Tax | 166 | 1,098 | 2,533 | 3,598 | |
Commercial Airplanes Segment [Member] | Operating Segments [Member] | United States | |||||
Disaggregation of Revenue [Line Items] | |||||
Revenue from Contract with Customer, Excluding Assessed Tax | 3,004 | 2,922 | 10,591 | 10,824 | |
Commercial Airplanes Segment [Member] | Unallocated items, eliminations and other [Member] | |||||
Disaggregation of Revenue [Line Items] | |||||
Revenues | 7 | 8 | 184 | 27 | |
Defense, Space & Security [Member] | Operating Segments [Member] | |||||
Disaggregation of Revenue [Line Items] | |||||
Revenues | $ 7,042 | $ 6,937 | $ 20,265 | $ 19,518 | |
Defense, Space & Security [Member] | Operating Segments [Member] | U S Government Contracts [Member] | |||||
Disaggregation of Revenue [Line Items] | |||||
Revenue from Contract with Customer, excluding assessed tax, Percentage | 90.00% | 88.00% | 89.00% | 88.00% | |
Defense, Space & Security [Member] | Operating Segments [Member] | Fixed-price Contract [Member] | |||||
Disaggregation of Revenue [Line Items] | |||||
Revenue from Contract with Customer, excluding assessed tax, Percentage | 70.00% | 70.00% | 69.00% | 69.00% | |
Defense, Space & Security [Member] | Operating Segments [Member] | Transferred over Time [Member] | |||||
Disaggregation of Revenue [Line Items] | |||||
Revenue from Contract with Customer, excluding assessed tax, Percentage | 97.00% | 98.00% | 98.00% | 98.00% | |
Defense, Space & Security [Member] | Operating Segments [Member] | Non-US [Member] | |||||
Disaggregation of Revenue [Line Items] | |||||
Revenue from Contract with Customer, Excluding Assessed Tax | $ 1,583 | $ 1,556 | $ 5,031 | $ 4,932 | |
Defense, Space & Security [Member] | Operating Segments [Member] | United States | |||||
Disaggregation of Revenue [Line Items] | |||||
Revenue from Contract with Customer, Excluding Assessed Tax | 5,459 | $ 5,381 | 15,234 | $ 14,586 | |
B-737-Max [Member] | Customer Concessions [Member] | Commercial Airplanes Segment [Member] | Operating Segments [Member] | |||||
Disaggregation of Revenue [Line Items] | |||||
Revenue from Contract with Customer, Excluding Assessed Tax | $ (5,610) | $ (5,610) | [1] | ||
[1] | Net of insurance recoveries |
Schedule Of Unallocated Items a
Schedule Of Unallocated Items and Eliminations (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | |
Segment Reporting Information [Line Items] | ||||
Share-based plans | $ (160) | $ (150) | ||
Research and Development Expense | $ (778) | $ (826) | (2,470) | (2,417) |
Asset Impairment Charges | (106) | (63) | ||
Unallocated items, eliminations and other [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Share-based plans | (21) | (24) | (57) | (60) |
Deferred compensation | (25) | (56) | (154) | (112) |
Amortization of previously capitalized interest | (23) | (19) | (68) | (67) |
Research and Development Expense | (97) | (50) | (270) | (69) |
Asset Impairment Charges | (250) | |||
Litigation Settlement, Expense | (109) | (148) | ||
Eliminations and other unallocated items | (356) | (322) | (819) | (737) |
Unallocated items, eliminations and other | 522 | 471 | 1,727 | 1,193 |
FAS/CAS service cost adjustment | 364 | 337 | 1,093 | 1,019 |
Unallocated items, eliminations and other [Member] | Pension Plans, Defined Benefit [Member] | ||||
Segment Reporting Information [Line Items] | ||||
FAS/CAS service cost adjustment | 274 | 260 | 823 | 780 |
Unallocated items, eliminations and other [Member] | Other Postretirement Benefit Plan, Defined Benefit [Member] | ||||
Segment Reporting Information [Line Items] | ||||
FAS/CAS service cost adjustment | $ 90 | $ 77 | $ 270 | $ 239 |
Reconciliation of Assets from S
Reconciliation of Assets from Segment to Consolidated (Details) - USD ($) $ in Millions | Sep. 30, 2019 | Dec. 31, 2018 |
Segment Reporting Information [Line Items] | ||
Assets | $ 132,598 | $ 117,359 |
Operating Segments [Member] | Commercial Airplanes [Member] | ||
Segment Reporting Information [Line Items] | ||
Assets | 74,994 | 64,788 |
Operating Segments [Member] | Defense, Space & Security [Member] | ||
Segment Reporting Information [Line Items] | ||
Assets | 19,431 | 19,594 |
Operating Segments [Member] | Global Services [Member] | ||
Segment Reporting Information [Line Items] | ||
Assets | 18,696 | 17,921 |
Operating Segments [Member] | Boeing Capital [Member] | ||
Segment Reporting Information [Line Items] | ||
Assets | 2,246 | 2,809 |
Unallocated items, eliminations and other [Member] | ||
Segment Reporting Information [Line Items] | ||
Assets | $ 17,231 | $ 12,247 |