EX-12 4 a201312dec3110kexhibit12.htm COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES 2013 12 Dec 31 10K Exhibit 12


EXHIBIT 12
Computation of Ratio of Earnings to Fixed Charges
The Boeing Company and Subsidiaries
(Dollars in millions)
 
Years ended December 31,
 
2013

2012

2011

2010

2009

Earnings before income taxes

$6,232


$5,910


$5,393


$4,507


$1,731

Fixed charges excluding capitalized interest
514

603

677

726

564

Amortization of previously capitalized interest
74

75

64

60

61

Net adjustment for earnings from affiliates
13

69

(38
)
(11
)
(10
)
Earnings available for fixed charges

$6,833


$6,657


$6,096


$5,282


$2,346

Fixed charges:
 
 
 
 
 
Interest and debt expense(1)

$461


$551


$626


$676


$514

Interest capitalized during the period
87

74

57

48

90

Rentals deemed representative of an interest factor
53

52

51

50

50

Total fixed charges

$601


$677


$734


$774


$654

Ratio of earnings to fixed charges
11.4

9.8

8.3

6.8

3.6

(1) 
Amount does not include tax-related interest expense which is reported as a component of Income tax expense in our Condensed Consolidated Statements of Operations.