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

 

The Boeing Company and Subsidiaries

Consolidated Statements of Cash Flows

(Unaudited)

 
             
 

Nine months ended
September 30

(Dollars in millions)

2017

 

2016

 

Cash flows – operating activities:

   

Net earnings

 

$5,065

   

$3,264

 

Adjustments to reconcile net earnings to net cash provided by operating activities:

   

Non-cash items – 

   

Share-based plans expense

151

 

144

 

Depreciation and amortization

1,487

 

1,364

 

Investment/asset impairment charges, net

75

 

61

 

Customer financing valuation expense/(benefit)

4

 

(5)

 

Loss on dispositions, net

   

10

 

Other charges and credits, net

190

 

219

 

Changes in assets and liabilities – 

   

Accounts receivable

(1,983)

 

(517)

 

Inventories, net of advances and progress billings

254

 

4,334

 

Accounts payable

778

 

1,366

 

Accrued liabilities

112

 

82

 

Advances and billings in excess of related costs

2,828

 

(1,717)

 

Income taxes receivable, payable and deferred

1,465

 

(725)

 

Other long-term liabilities

25

 

(67)

 

Pension and other postretirement plans

(550)

 

144

 

Customer financing, net

635

 

(195)

 

Other

(96)

 

(95)

 

   Net cash provided by operating activities

10,440

 

7,667

 

Cash flows – investing activities:

   

Property, plant and equipment additions

(1,304)

 

(2,014)

 

Property, plant and equipment reductions

30

 

14

 

Contributions to investments

(2,847)

 

(928)

 

Proceeds from investments

2,612

 

956

 

Purchase of distribution rights

(131)

   

Other

4

 

8

 

   Net cash used by investing activities

(1,636)

 

(1,964)

 

Cash flows – financing activities:

   

New borrowings

876

 

1,323

 

Debt repayments

(83)

 

(836)

 

Repayments of distribution rights and other asset financing

   

(24)

 

Stock options exercised

291

 

192

 

Employee taxes on certain share-based payment arrangements

(118)

 

(83)

 

Common shares repurchased

(7,500)

 

(6,501)

 

Dividends paid

(2,575)

 

(2,084)

 

   Net cash used by financing activities

(9,109)

 

(8,013)

 

Effect of exchange rate changes on cash and cash equivalents

73

 

(6)

 

Net decrease in cash and cash equivalents

(232)

 

(2,316)

 

Cash and cash equivalents at beginning of year

8,801

 

11,302

 

Cash and cash equivalents at end of period

 

$8,569

   

$8,986

 

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