The Boeing Company and Subsidiaries | |||||||
Summary of Business Segment Data | |||||||
(Unaudited) | |||||||
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| Twelve months ended
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| Three months ended
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(Dollars in millions) | 2018 |
| 2017 |
| 2018 |
| 2017 |
Revenues: |
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|
|
|
|
|
Commercial Airplanes | $60,715 |
| $58,014 |
| $17,306 |
| $15,388 |
Defense, Space & Security | 23,195 |
| 20,561 |
| 6,111 |
| 5,257 |
Global Services | 17,018 |
| 14,581 |
| 4,894 |
| 3,797 |
Boeing Capital | 274 |
| 307 |
| 60 |
| 73 |
Unallocated items, eliminations and other | (75) |
| 542 |
| (30) |
| 255 |
Total revenues | $101,127 |
| $94,005 |
| $28,341 |
| $24,770 |
Earnings from operations: |
|
|
|
|
|
|
|
Commercial Airplanes | $7,879 |
| $5,452 |
| $2,704 |
| $1,787 |
Defense, Space & Security | 1,594 |
| 2,193 |
| 669 |
| 544 |
Global Services | 2,522 |
| 2,246 |
| 732 |
| 559 |
Boeing Capital | 79 |
| 114 |
| 8 |
| 27 |
Segment operating profit | 12,074 |
| 10,005 |
| 4,113 |
| 2,917 |
Unallocated items, eliminations and other | (1,414) |
| (1,099) |
| (246) |
| (328) |
FAS/CAS service cost adjustment | 1,327 |
| 1,438 |
| 308 |
| 389 |
Earnings from operations | 11,987 |
| 10,344 |
| 4,175 |
| 2,978 |
| Other income/(loss), net | 92 |
| 123 |
| 29 |
| 32 |
| Interest and debt expense | (475) |
| (360) |
| (158) |
| (93) |
| Earnings before income taxes | 11,604 |
| 10,107 |
| 4,046 |
| 2,917 |
| Income tax expense | (1,144) |
| (1,649) |
| (622) |
| 403 |
| Net earnings | $10,460 |
| $8,458 |
| $3,424 |
| $3,320 |
|
|
|
|
|
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|
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| Research and development expense, net: |
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|
|
|
|
|
|
| Commercial Airplanes | $2,188 |
| $2,247 |
| $572 |
| $492 |
| Defense, Space & Security | 788 |
| 834 |
| 175 |
| 235 |
| Global Services | 161 |
| 140 |
| 42 |
| 39 |
| Other | 132 |
| (42) |
| 63 |
| (4) |
| Total research and development expense, net | $3,269 |
| $3,179 |
| $852 |
| $762 |
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| Unallocated items, eliminations and other: |
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|
|
|
|
|
|
| Share-based plans | ($76) |
| ($77) |
| ($16) |
| ($10) |
| Deferred compensation | (19) |
| (240) |
| 93 |
| (66) |
| Amortization of previously capitalized interest | (92) |
| (96) |
| (25) |
| (28) |
| Eliminations and other unallocated items | (1,227) |
| (686) |
| (298) |
| (224) |
| Sub-total (included in core operating earnings) | (1,414) |
| (1,099) |
| (246) |
| (328) |
| Pension FAS/CAS service cost adjustment | 1,005 |
| 1,127 |
| 225 |
| 316 |
| Postretirement FAS/CAS service cost adjustment | 322 |
| 311 |
| 83 |
| 73 |
| FAS/CAS service cost adjustment | $1,327 |
| $1,438 |
| $308 |
| $389 |
| Total | ($87) |
| $339 |
| $62 |
| $61 |
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Boeing Reports Record 2018 Results and Provides 2019 Guidance
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