Boeing Reports Third-Quarter Results; Raises Cash Flow and EPS Guidance

Notes to Condensed Consolidated Financial Statements
Summary of Business Segment Data
(Unaudited)

Effective July 1, 2017, we now operate in four principal segments: Commercial Airplanes; Defense, Space & Security, Global Services and Boeing Capital. The prior period amounts have been reclassified to conform to the current period's presentation as set forth below.

                                     
 

Three months ended

(Dollars in millions)

06/30/17

 

03/31/17

 

12/31/16

 

09/30/16

 

06/30/16

 

03/31/16

 

Revenues:

           

Commercial Airplanes

 

$13,817

   

$12,464

   

$14,382

   

$15,200

   

$15,643

   

$12,787

 

Defense, Space & Security

5,198

 

4,852

 

5,282

 

5,751

 

5,394

 

6,136

 

Global Services

3,564

 

3,506

 

3,417

 

3,506

 

3,581

 

3,421

 

Boeing Capital

72

 

92

 

87

 

63

 

84

 

64

 

Unallocated items, eliminations and other

88

 

62

 

118

 

(622)

 

53

 

224

 

Total revenues

 

$22,739

   

$20,976

   

$23,286

   

$23,898

   

$24,755

   

$22,632

 

Earnings from operations:

           

Commercial Airplanes

 

$1,274

   

$891

   

$1,191

   

$1,293

   

($1,281)

   

$792

 

Defense, Space & Security

619

 

492

 

523

 

564

 

362

 

517

 

Global Services

564

 

569

 

568

 

524

 

539

 

546

 

Boeing Capital

25

 

39

 

23

 

13

 

18

 

5

 

Segment operating profit/(loss)

2,482

 

1,991

 

2,305

 

2,394

 

(362)

 

1,860

 

Unallocated items, eliminations and other

53

 

33

 

(122)

 

(112)

 

(57)

 

(72)

 

Earnings/(loss) from operations

2,535

 

2,024

 

2,183

 

2,282

 

(419)

 

1,788

 

Other income/(loss), net

27

 

22

 

(1)

 

2

 

13

 

26

 

Interest and debt expense

(93)

 

(87)

 

(79)

 

(81)

 

(73)

 

(73)

 

Earnings/(loss) before income taxes

2,469

 

1,959

 

2,103

 

2,203

 

(479)

 

1,741

 

Income tax (expense)/benefit

(708)

 

(508)

 

(472)

 

76

 

245

 

(522)

 

Net earnings/(loss)

 

$1,761

   

$1,451

   

$1,631

   

$2,279

   

($234)

   

$1,219

 
             

Research and development expense, net:

           

Commercial Airplanes

 

$592

   

$625

   

$554

   

$633

   

$1,860

   

$659

 

Defense, Space & Security

196

 

196

 

149

 

201

 

233

 

232

 

Global Services

35

 

28

 

27

 

41

 

47

 

38

 

Other

(10)

 

(11)

 

(4)

 

(18)

 

(13)

 

(12)

 

Total research and development expense, net

 

$813

   

$838

   

$726

   

$857

   

$2,127

   

$917

 

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