10-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 10-K

(Mark One)

x ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the fiscal year ended December 31, 2017

or

¨ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from                          to                         

Commission file number 1-442

THE BOEING COMPANY

(Exact name of registrant as specified in its charter)

Delaware	91-0425694
State or other jurisdiction of incorporation or organization	(I.R.S. Employer Identification No.)
100 N. Riverside Plaza, Chicago, IL	60606-1596
(Address of principal executive offices)	(Zip Code)

Registrant’s telephone number, including area code (312) 544-2000 

Securities registered pursuant to Section 12(b) of the Act:

Common Stock, $5 par value	New York Stock Exchange
(Title of each class)	(Name of each exchange on which registered)

Securities registered pursuant to Section 12(g) of the Act:None

Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes x No ¨

Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act. Yes ¨ No x

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes x No ¨

Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (§ 232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files). Yes x No ¨

Indicate by check mark if disclosure of delinquent filers pursuant to Item 405 of Regulation S-K (§ 229.405 of this chapter) is not contained herein, and will not be contained, to the best of registrant’s knowledge, in definitive proxy or information statements incorporated by reference in Part III of this Form 10-K or any amendment to this Form 10-K.Yes ¨ No x

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.

Large accelerated filer x	Accelerated filer  ¨
Non-accelerated filer ¨ (Do not check if a smaller reporting company)	Smaller reporting company  ¨
Emerging growth company ¨

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ¨

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes ¨ No x

As of June 30, 2017, there were 593,198,552 common shares outstanding held by nonaffiliates of the registrant, and the aggregate market value of the common shares (based upon the closing price of these shares on the New York Stock Exchange) was approximately $117.3 billion.

The number of shares of the registrant’s common stock outstanding as of February 5, 2018 was 588,490,313.

DOCUMENTS INCORPORATED BY REFERENCE

Part III incorporates information by reference to the registrant’s definitive proxy statement, to be filed with the Securities and Exchange Commission within 120 days after the close of the fiscal year ended December 31, 2017.

THE BOEING COMPANY

Index to the Form 10-K

For the Fiscal Year Ended December 31, 2017

PART I			Page
	Item  1.	Business	1
	Item  1A.	Risk Factors	5
	Item  1B.	Unresolved Staff Comments	14
	Item  2.	Properties	15
	Item  3.	Legal Proceedings	15
	Item  4.	Mine Safety Disclosures	15
PART II
	Item  5.	Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities	16
	Item  6.	Selected Financial Data	17
	Item  7.	Management’s Discussion and Analysis of Financial Condition and Results of Operations	18
	Item  7A.	Quantitative and Qualitative Disclosures About Market Risk	44
	Item  8.	Financial Statements and Supplementary Data	45
	Item  9.	Changes in and Disagreements With Accountants on Accounting and Financial Disclosure	108
	Item  9A.	Controls and Procedures	108
	Item  9B.	Other Information	108
PART III
	Item  10.	Directors, Executive Officers and Corporate Governance	109
	Item  11.	Executive Compensation	111
	Item  12.	Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters	112
	Item  13.	Certain Relationships and Related Transactions, and Director Independence	112
	Item  14.	Principal Accounting Fees and Services	113
PART IV
	Item  15.	Exhibits, Financial Statement Schedules	113
	Item  16.	Form 10-K Summary	115
	Signatures		116

PART I

Item 1. Business

The Boeing Company, together with its subsidiaries (herein referred to as “Boeing,” the “Company,” “we,” “us,” “our”), is one of the world’s major aerospace firms.

We are organized based on the products and services we offer. We operate in four reportable segments:

• Commercial Airplanes (BCA);

• Defense, Space & Security (BDS);

• Global Services (BGS);

• Boeing Capital (BCC).

Commercial Airplanes Segment

This segment develops, produces and markets commercial jet aircraft and provides fleet support services, principally to the commercial airline industry worldwide. We are a leading producer of commercial aircraft and offer a family of commercial jetliners designed to meet a broad spectrum of global passenger and cargo requirements of airlines. This family of commercial jet aircraft in production includes the 737 narrow-body model and the 747, 767, 777 and 787 wide-body models. Development continues on the 787-10 and certain 737 MAX derivatives and the 777X program.

Defense, Space & Security Segment

This segment is engaged in the research, development, production and modification of manned and unmanned military aircraft and weapons systems for global strike, including fighter aircraft and missile systems; vertical lift, including rotorcraft and tilt-rotor aircraft; mobility, surveillance and engagement, including battle management, airborne, anti-submarine, transport and tanker aircraft. In addition, this segment is engaged in the research, development, production and modification of the following products and related services: strategic defense and intelligence systems, including strategic missile and defense systems, command, control, communications, computers, intelligence, surveillance and reconnaissance (C4ISR), cyber and information solutions, and intelligence systems; satellite systems, including government and commercial satellites and space exploration.

BDS' primary customer is the United States Department of Defense (U.S. DoD). Revenues from the U.S. DoD, including foreign military sales through the U.S. government, accounted for approximately 79% of its 2017 revenues. Other significant BDS customers include the National Aeronautics and Space Administration (NASA) and customers in international defense, civil and commercial satellite markets.

This segment's primary products include the following fixed-wing military aircraft: EA-18G Growler Airborne Electronic Attack, F/A-18E/F Super Hornet, F-15 Strike Eagle, P-8 programs, and KC-46A Tanker. This segment produces rotorcraft and rotary-wing programs, such as CH-47 Chinook, AH-64 Apache, and V-22 Osprey. In addition, this segment's products include space and missile systems including: government and commercial satellites, the International Space Station, missile defense and weapons programs, and Joint Direct Attack Munition, as well as the United Launch Alliance joint venture.

Global Services Segment

This segment provides services to our commercial and defense customers. This segment offers aviation services support, aircraft modifications, spare parts, training, maintenance documents, data analytics and information-based services, and technical advice to commercial and government customers worldwide.

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In addition, BGS sustains aircraft and systems with a full spectrum of products and services through integrated logistics, including supply chain management and engineering support; maintenance, modification and upgrades for aircraft; and training systems and government services, including pilot and maintenance training. Major defense programs supported include the C-17 Globemaster III, F-15 Strike Eagle, F/A-18E/F Super Hornet, and AH-64 Apache for domestic and international customers.

Boeing Capital Segment

BCC seeks to ensure that Boeing customers have the financing they need to buy and take delivery of their Boeing product and manages overall financing exposure. BCC’s portfolio consists of equipment under operating leases, finance leases, notes and other receivables, assets held for sale or re-lease and investments.

Financial and Other Business Information

See the Summary of Business Segment Data and Note 21 to our Consolidated Financial Statements for financial information, including revenues and earnings from operations, for each of our business segments.

Intellectual Property

We own numerous patents and have licenses for the use of patents owned by others, which relate to our products and their manufacture. In addition to owning a large portfolio of intellectual property, we also license intellectual property to and from third parties. For example, the U.S. government has licenses in our patents that are developed in performance of government contracts, and it may use or authorize others to use the inventions covered by such patents for government purposes. Unpatented research, development and engineering skills, as well as certain trademarks, trade secrets, and other intellectual property rights, also make an important contribution to our business. While our intellectual property rights in the aggregate are important to the operation of each of our businesses, we do not believe that our business would be materially affected by the expiration of any particular intellectual property right or termination of any particular intellectual property patent license agreement.

Non-U.S. Revenues

See Note 21 to our Consolidated Financial Statements for information regarding non-U.S. revenues.

Research and Development

Research and development (R&D) expenditures involve experimentation, design, development and related test activities for defense systems, new and derivative jet aircraft including both commercial and military, advanced space and other company-sponsored product development. R&D expenditures are expensed as incurred including amounts allocable as reimbursable overhead costs on U.S. government contracts.

Our total research and development expense, net amounted to $3.2 billion, $4.6 billion and $3.3 billion in 2017, 2016 and 2015, respectively.

Research and development costs also include bid and proposal efforts related to government products and services, as well as costs incurred in excess of amounts estimated to be recoverable under cost-sharing research and development agreements. Bid and proposal costs were $288 million, $311 million and $286 million in 2017, 2016 and 2015, respectively.

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Employees

Total workforce level at December 31, 2017 was approximately 140,800. As of December 31, 2017, our principal collective bargaining agreements were with the following unions:

Union	Percent of our Employees Represented	Status of the Agreements with Major Union
The International Association of Machinists and Aerospace Workers (IAM)	21%	We have two major agreements; one expiring in June 2022 and one in September 2024.
The Society of Professional Engineering Employees in Aerospace (SPEEA)	12%	We have two major agreements expiring in October 2022.
The United Automobile, Aerospace and Agricultural Implement Workers of America (UAW)	1%	We have one major agreement expiring in October 2022.

Competition

The commercial jet aircraft market and the airline industry remain extremely competitive. We face aggressive international competitors who are intent on increasing their market share, such as Airbus, Embraer and Bombardier, and other entrants from Russia, China and Japan. We are focused on improving our processes and continuing cost reduction efforts. We intend to continue to compete with other airplane manufacturers by providing customers with greater value products.

BDS faces strong competition in all market segments, primarily from Lockheed Martin Corporation, Northrop Grumman Corporation, Raytheon Company, General Dynamics Corporation and SpaceX. Non-U.S. companies such as BAE Systems and Airbus Group continue to build a strategic presence in the U.S. market by strengthening their North American operations and partnering with U.S. defense companies. In addition, certain competitors have occasionally formed teams with other competitors to address specific customer requirements. BDS expects the trend of strong competition to continue into 2018.

The commercial and defense services market is an extremely challenging landscape made up of many of the same strong U.S. and non-U.S. competitors facing BCA and BDS along with other competitors in those markets. BGS leverages our extensive services network offering products and services which span the life cycle of our defense and commercial airplane programs: training, fleet services and logistics, maintenance and engineering, modifications and upgrades - as well as the daily cycle of gate-to-gate operations. BGS expects the market to remain highly competitive in 2018, and intends to grow market share by leveraging a high level of customer satisfaction and productivity.

Regulatory Matters

Our businesses are heavily regulated in most of our markets. We deal with numerous U.S. government agencies and entities, including but not limited to all of the branches of the U.S. military, NASA, the Federal Aviation Administration (FAA) and the Department of Homeland Security. Similar government authorities exist in our non-U.S. markets.

Government Contracts. The U.S. government, and other governments, may terminate any of our government contracts at their convenience, as well as for default based on our failure to meet specified performance requirements. If any of our U.S. government contracts were to be terminated for convenience, we generally would be entitled to receive payment for work completed and allowable termination or cancellation costs. If any of our government contracts were to be terminated for default, generally the U.S.

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government would pay only for the work that has been accepted and could require us to pay the difference between the original contract price and the cost to re-procure the contract items, net of the work accepted from the original contract. The U.S. government can also hold us liable for damages resulting from the default.

Commercial Aircraft. In the U.S., our commercial aircraft products are required to comply with FAA regulations governing production and quality systems, airworthiness and installation approvals, repair procedures and continuing operational safety. Outside the U.S., similar requirements exist for airworthiness, installation and operational approvals. These requirements are generally administered by the national aviation authorities of each country and, in the case of Europe, coordinated by the European Joint Aviation Authorities.

Environmental. We are subject to various federal, state, local and non-U.S. laws and regulations relating to environmental protection, including the discharge, treatment, storage, disposal and remediation of hazardous substances and wastes. We continually assess our compliance status and management of environmental matters to ensure our operations are in compliance with all applicable environmental laws and regulations. Investigation, remediation, and operation and maintenance costs associated with environmental compliance and management of sites are a normal, recurring part of our operations. These costs often are allowable costs under our contracts with the U.S. government. It is reasonably possible that costs incurred to ensure continued environmental compliance could have a material impact on our results of operations, financial condition or cash flows if additional work requirements or more stringent clean-up standards are imposed by regulators, new areas of soil, air and groundwater contamination are discovered and/or expansions of work scope are prompted by the results of investigations.

A Potentially Responsible Party (PRP) has joint and several liability under existing U.S. environmental laws. Where we have been designated a PRP by the Environmental Protection Agency or a state environmental agency, we are potentially liable to the government or third parties for the full cost of remediating contamination at our facilities or former facilities or at third-party sites. If we were required to fully fund the remediation of a site for which we were originally assigned a partial share, the statutory framework would allow us to pursue rights to contribution from other PRPs. For additional information relating to environmental contingencies, see Note 11 to our Consolidated Financial Statements.

Non-U.S. Sales. Our non-U.S. sales are subject to both U.S. and non-U.S. governmental regulations and procurement policies and practices, including regulations relating to import-export control, investment, exchange controls, anti-corruption, and repatriation of earnings. Non-U.S. sales are also subject to varying currency, political and economic risks.

Raw Materials, Parts, and Subassemblies

We are highly dependent on the availability of essential materials, parts and subassemblies from our suppliers and subcontractors. The most important raw materials required for our aerospace products are aluminum (sheet, plate, forgings and extrusions), titanium (sheet, plate, forgings and extrusions) and composites (including carbon and boron). Although alternative sources generally exist for these raw materials, qualification of the sources could take a year or more. Many major components and product equipment items are procured or subcontracted on a sole-source basis with a number of companies.

Suppliers

We are dependent upon the ability of a large number of U.S. and non-U.S. suppliers and subcontractors to meet performance specifications, quality standards and delivery schedules at our anticipated costs. While we maintain an extensive qualification and performance surveillance system to control risk associated with such reliance on third parties, failure of suppliers or subcontractors to meet commitments could adversely affect production schedules and program/contract profitability, thereby jeopardizing our ability

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to fulfill commitments to our customers. We are also dependent on the availability of energy sources, such as electricity, at affordable prices.

Seasonality

No material portion of our business is considered to be seasonal.

Executive Officers of the Registrant

See “Item 10. Directors, Executive Officers and Corporate Governance” in Part III.

Other Information

Boeing was originally incorporated in the State of Washington in 1916 and reincorporated in Delaware in 1934. Our principal executive offices are located at 100 N. Riverside Plaza, Chicago, Illinois 60606 and our telephone number is (312) 544-2000.

General information about us can be found at www.boeing.com. The information contained on or connected to our website is not incorporated by reference into this Annual Report on Form 10-K and should not be considered part of this or any other report filed with the Securities and Exchange Commission (SEC). Our Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and Current Reports on Form 8-K, as well as any amendments to those reports, are available free of charge through our website as soon as reasonably practicable after we file them with, or furnish them to, the SEC. These reports may also be obtained at the SEC’s public reference room at 100 F Street, N.E., Washington, D.C. 20549. The SEC also maintains a website at www.sec.gov that contains reports, proxy statements and other information regarding SEC registrants, including Boeing.

Forward-Looking Statements

This report, as well as our annual report to shareholders, quarterly reports, and other filings we make with the SEC, press and earnings releases and other written and oral communications, contain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as “may,” “should,” “expects,” “intends,” “projects,” “plans,” “believes,” “estimates,” “targets,” “anticipates” and similar expressions generally identify these forward-looking statements. Examples of forward-looking statements include statements relating to our future financial condition and operating results, as well as any other statement that does not directly relate to any historical or current fact.

Forward-looking statements are based on expectations and assumptions that we believe to be reasonable when made, but that may not prove to be accurate. These statements are not guarantees and are subject to risks, uncertainties and changes in circumstances that are difficult to predict. Many factors, including those set forth in the “Risk Factors” section below and other important factors disclosed in this report and from time to time in our other filings with the SEC, could cause actual results to differ materially and adversely from these forward-looking statements. Any forward-looking statement speaks only as of the date on which it is made, and we assume no obligation to update or revise any forward-looking statement whether as a result of new information, future events or otherwise, except as required by law.

Item 1A. Risk Factors

An investment in our common stock or debt securities involves risks and uncertainties and our actual results and future trends may differ materially from our past or projected future performance. We urge investors to consider carefully the risk factors described below in evaluating the information contained in this report.

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Our Commercial Airplanes and Global Services businesses depend heavily on commercial airlines, and are subject to unique risks.

Market conditions have a significant impact on demand for our commercial aircraft and related services. The commercial aircraft market is predominantly driven by long-term trends in airline passenger and cargo traffic. The principal factors underlying long-term traffic growth are sustained economic growth and political stability both in developed and emerging markets. Demand for our commercial aircraft is further influenced by airline profitability, availability of aircraft financing, world trade policies, government-to-government relations, technological advances, price and other competitive factors, fuel prices, terrorism, epidemics and environmental regulations. Traditionally, the airline industry has been cyclical and very competitive and has experienced significant profit swings and constant challenges to be more cost competitive. In addition, availability of financing to non-U.S. customers depends in part on the Export-Import Bank of the United States being fully operational. Significant deterioration in the global economic environment, the airline industry generally, or the financial stability of one or more of our major customers could result in fewer new orders for aircraft or services, or could cause customers to seek to postpone or cancel contractual orders and/or payments to us, which could result in lower revenues, profitability and cash flows and a reduction in our contractual backlog. In addition, because our commercial aircraft backlog consists of aircraft scheduled for delivery over a period of several years, any of these macroeconomic, industry or customer impacts could unexpectedly affect deliveries over a long period.

We enter into firm fixed-price aircraft sales contracts with indexed price escalation clauses which could subject us to losses if we have cost overruns or if increases in our costs exceed the applicable escalation rate. Commercial aircraft sales contracts are often entered into years before the aircraft are delivered. In order to help account for economic fluctuations between the contract date and delivery date, aircraft pricing generally consists of a fixed amount as modified by price escalation formulas derived from labor, commodity and other price indices. Our revenue estimates are based on current expectations with respect to these escalation formulas, but the actual escalation amounts are outside of our control. Escalation factors can fluctuate significantly from period to period. Changes in escalation amounts can significantly impact revenues and operating margins in our Commercial Airplanes business.

We derive a significant portion of our revenues from a limited number of commercial airlines. We can make no assurance that any customer will exercise purchase options, fulfill existing purchase commitments or purchase additional products or services from us. In addition, fleet decisions, airline consolidations or financial challenges involving any of our major commercial airline customers could significantly reduce our revenues and limit our opportunity to generate profits from those customers.

Our Commercial Airplanes business depends on our ability to maintain a healthy production system, achieve planned production rate targets, successfully develop new aircraft or new derivative aircraft, and meet or exceed stringent performance and reliability standards.

The commercial aircraft business is extremely complex, involving extensive coordination and integration with U.S and non-U.S. suppliers, highly-skilled labor from thousands of employees and other partners, and stringent regulatory requirements and performance and reliability standards. In addition, the introduction of new aircraft programs and/or derivatives, such as the 787-10, and 777X, involves increased risks associated with meeting development, testing, production and certification schedules. As a result, our ability to deliver aircraft on time, satisfy regulatory and customer requirements, and achieve or maintain, as applicable, program profitability is subject to significant risks.

We must minimize disruption caused by production changes and achieve productivity improvements in order to meet customer demand and maintain our profitability. We have plans to adjust production rates on several of our commercial aircraft programs, while at the same time engaging in significant ongoing development and production of the 787-10 and 777X aircraft. In addition, we continue to seek opportunities to reduce the costs of building our aircraft, including working with our suppliers to reduce supplier costs,

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identifying and implementing productivity improvements, and optimizing how we manage inventory. If production rate changes at any of our commercial aircraft assembly facilities are delayed or create significant disruption to our production system, or if our suppliers cannot timely deliver components to us at the cost and rates necessary to achieve our targets, we may be unable to meet delivery schedules and/or the financial performance of one or more of our programs may suffer.

Operational challenges impacting the production system for one or more of our commercial aircraft programs could result in production delays and/or failure to meet customer demand for new aircraft, either of which would negatively impact our revenues and operating margins. Our commercial aircraft production system is extremely complex. Operational issues, including delays or defects in supplier components, failure to meet internal performance plans, or delays or failures to achieve required regulatory certifications, could result in significant out-of-sequence work and increased production costs, as well as delayed deliveries to customers, impacts to aircraft performance and/or increased warranty or fleet support costs.

If our commercial airplanes fail to satisfy performance and reliability requirements, we could face additional costs and/or lower revenues. Developing and manufacturing commercial aircraft that meet or exceed our performance and reliability standards, as well as those of customers and regulatory agencies, can be costly and technologically challenging. These challenges are particularly significant with newer aircraft programs. Any failure of any Boeing aircraft to satisfy performance or reliability requirements could result in disruption to our operations, higher costs and/or lower revenues.

Changes in levels of U.S. government defense spending or overall acquisition priorities could negatively impact our financial position and results of operations.

We derive a substantial portion of our revenue from the U.S. government, primarily from defense related programs with the United States Department of Defense (U.S. DoD). Levels of U.S. defense spending are very difficult to predict and may be impacted by numerous factors such as the political environment, U.S. foreign policy, macroeconomic conditions and the ability of the U.S. government to enact relevant legislation such as authorization and appropriations bills.

In addition, significant budgetary delays and constraints have already resulted in reduced spending levels, and additional reductions may be forthcoming. The Budget Control Act of 2011 (The Act) established limits on U.S. government discretionary spending, including a reduction of defense spending between the 2012 and 2021 U.S. government fiscal years. Accordingly, long-term uncertainty remains with respect to overall levels of defense spending and it is likely that U.S. government discretionary spending levels will continue to be subject to pressure.

In addition, there continues to be significant uncertainty with respect to program-level appropriations for the U.S. DoD and other government agencies (including NASA) within the overall budgetary framework described above. While the House and Senate Appropriations committees included funding for Boeing’s major programs, such as F/A-18, CH-47 Chinook, AH-64 Apache, KC-46A Tanker and P-8 programs, in the final FY2017 appropriation and in their FY2018 bills, uncertainty remains about how defense budgets in FY2018 and beyond will affect Boeing’s programs. Future budget cuts, including cuts mandated by sequestration, or future procurement decisions associated with the authorizations and appropriations process could result in reductions, cancellations, and/or delays of existing contracts or programs. Any of these impacts could have a material effect on the results of the Company’s operations, financial position and/or cash flows.

In addition, as a result of the significant ongoing uncertainty with respect to both U.S. defense spending levels and the nature of the threat environment, we expect the U.S. DoD to continue to emphasize cost-cutting and other efficiency initiatives in its procurement processes. If we can no longer adjust successfully to these changing acquisition priorities and/or fail to meet affordability targets set by the U.S. DoD customer, our revenues and market share would be further impacted.

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We conduct a significant portion of our business pursuant to U.S. government contracts, which are subject to unique risks.

In 2017,31% of our revenues were earned pursuant to U.S. government contracts, which include foreign military sales (FMS) through the U.S. government. Business conducted pursuant to such contracts is subject to extensive procurement regulations and other unique risks.

Our sales to the U.S. government are subject to extensive procurement regulations, and changes to those regulations could increase our costs. New procurement regulations, or changes to existing requirements, could increase our compliance costs or otherwise have a material impact on the operating margins of our BDS and BGS businesses. These requirements may result in increased compliance costs, and we could be subject to additional costs in the form of withheld payments and/or reduced future business if we fail to comply with these requirements in the future. Compliance costs attributable to current and potential future procurement regulations such as these could negatively impact our financial condition and operating results.

The U.S. government may modify, curtail or terminate one or more of our contracts. The U.S. government contracting party may modify, curtail or terminate its contracts and subcontracts with us, without prior notice and either at its convenience or for default based on performance. In addition, funding pursuant to our U.S. government contracts may be reduced or withheld as part of the U.S. Congressional appropriations process due to fiscal constraints, changes in U.S. national security strategy and/or priorities or other reasons. Further uncertainty with respect to ongoing programs could also result in the event that the U.S. government finances its operations through temporary funding measures such as “continuing resolutions” rather than full-year appropriations. Any loss or anticipated loss or reduction of expected funding and/or modification, curtailment, or termination of one or more large programs could have a material adverse effect on our earnings, cash flow and/or financial position.

We are subject to U.S. government inquiries and investigations, including periodic audits of costs that we determine are reimbursable under U.S. government contracts. U.S. government agencies, including the Defense Contract Audit Agency and the Defense Contract Management Agency, routinely audit government contractors. These agencies review our performance under contracts, cost structure and compliance with applicable laws, regulations, and standards, as well as the adequacy of and our compliance with our internal control systems and policies. Any costs found to be misclassified or inaccurately allocated to a specific contract will be deemed non-reimbursable, and to the extent already reimbursed, must be refunded. Any inadequacies in our systems and policies could result in withholds on billed receivables, penalties and reduced future business. Furthermore, if any audit, inquiry or investigation uncovers improper or illegal activities, we could be subject to civil and criminal penalties and administrative sanctions, including termination of contracts, forfeiture of profits, suspension of payments, fines, and suspension or debarment from doing business with the U.S. government. We also could suffer reputational harm if allegations of impropriety were made against us, even if such allegations are later determined to be false.

We enter into fixed-price contracts which could subject us to losses if we have cost overruns.

Our BDS and BGS defense businesses generated approximately 65% and 77% of their 2017 revenues from fixed-price contracts. While fixed-price contracts enable us to benefit from performance improvements, cost reductions and efficiencies, they also subject us to the risk of reduced margins or incurring losses if we are unable to achieve estimated costs and revenues. If our estimated costs exceed our estimated price, we recognize reach-forward losses which can significantly affect our reported results. For example, during 2017, we recorded reach-forward losses totaling $471 million on the USAF KC-46A Tanker contract, primarily driven by additional costs attributable to certification and incorporating changes into low rate initial production (LRIP) aircraft. The long term nature of many of our contracts makes the process of estimating costs and revenues on fixed-price contracts inherently risky. Fixed-price contracts often contain price incentives and penalties tied to performance which can be difficult to estimate and have significant

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impacts on margins. In addition, some of our contracts have specific provisions relating to cost, schedule and performance.

Fixed-price development contracts are generally subject to more uncertainty than fixed-price production contracts. Many of these development programs have highly complex designs. In addition, technical or quality issues that arise during development could lead to schedule delays and higher costs to complete, which could result in a material charge or otherwise adversely affect our financial condition. Examples of significant BDS fixed-price development contracts include Commercial Crew, Saudi F-15, USAF KC-46A Tanker, and commercial and military satellites.

We enter into cost-type contracts which also carry risks.

Our BDS and BGS defense businesses generated approximately 35% and 23% of their 2017 revenues from cost-type contracting arrangements. Some of these are development programs that have complex design and technical challenges. These cost-type programs typically have award or incentive fees that are subject to uncertainty and may be earned over extended periods. In these cases the associated financial risks are primarily in reduced fees, lower profit rates or program cancellation if cost, schedule or technical performance issues arise. Programs whose contracts are primarily cost-type include GMD, Proprietary and SLS programs.

We enter into contracts that include in-orbit incentive payments that subject us to risks.

Contracts in the commercial satellite industry and certain government satellite contracts include in-orbit incentive payments. These in-orbit payments may be paid over time after final satellite acceptance or paid in full prior to final satellite acceptance. In both cases, the in-orbit incentive payment is at risk if the satellite does not perform to specifications for up to 15 years after acceptance. The net present value of in-orbit incentive fees we ultimately expect to realize is recognized as revenue in the construction period. If the satellite fails to meet contractual performance criteria, customers will not be obligated to continue making in-orbit payments and/or we may be required to provide refunds to the customer and incur significant charges.

Our ability to deliver products and services that satisfy customer requirements is heavily dependent on the performance and financial stability of our subcontractors and suppliers, as well as on the availability of raw materials and other components.

We rely on other companies including U.S. and non-U.S. subcontractors and suppliers to provide and produce raw materials, integrated components and sub-assemblies, and production commodities and to perform some of the services that we provide to our customers. If one or more of our suppliers or subcontractors experiences financial difficulties, delivery delays or other performance problems, we may be unable to meet commitments to our customers or incur additional costs. In addition, if one or more of the raw materials on which we depend (such as aluminum, titanium or composites) becomes unavailable or is available only at very high prices, we may be unable to deliver one or more of our products in a timely fashion or at budgeted costs. In some instances, we depend upon a single source of supply. Any service disruption from one of these suppliers, either due to circumstances beyond the supplier’s control, such as geo-political developments, or as a result of performance problems or financial difficulties, could have a material adverse effect on our ability to meet commitments to our customers or increase our operating costs.

We use estimates in accounting for many contracts and programs. Changes in our estimates could adversely affect our future financial results.

Contract and program accounting require judgment relative to assessing risks, estimating revenues and

9

costs and making assumptions for schedule and technical issues. Due to the size and nature of many of our contracts and programs, the estimation of total revenues and cost at completion is complicated and subject to many variables. Assumptions have to be made regarding the length of time to complete the contract or program because costs also include expected increases in wages and employee benefits, material prices and allocated fixed costs. Incentives or penalties related to performance on contracts are considered in estimating sales and profit rates, and are recorded when there is sufficient information for us to assess anticipated performance. Suppliers’ assertions are also assessed and considered in estimating costs and profit rates. Estimates of award fees are also used in sales and profit rates based on actual and anticipated awards.

With respect to each of our commercial aircraft programs, inventoriable production costs (including overhead), program tooling and other non-recurring costs and routine warranty costs are accumulated and charged as cost of sales by program instead of by individual units or contracts. A program consists of the estimated number of units (accounting quantity) of a product to be produced in a continuing, long-term production effort for delivery under existing and anticipated contracts limited by the ability to make reasonably dependable estimates. To establish the relationship of sales to cost of sales, program accounting requires estimates of (a) the number of units to be produced and sold in a program, (b) the period over which the units can reasonably be expected to be produced and (c) the units’ expected sales prices, production costs, program tooling and other non-recurring costs, and routine warranty costs for the total program. Several factors determine accounting quantity, including firm orders, letters of intent from prospective customers and market studies. Changes to customer or model mix, production costs and rates, learning curve, changes to price escalation indices, costs of derivative aircraft, supplier performance, customer and supplier negotiations/settlements, supplier claims and/or certification issues can impact these estimates. Any such change in estimates relating to program accounting may adversely affect future financial performance.

Because of the significance of the judgments and estimation processes described above, materially different sales and profit amounts could be recorded if we used different assumptions or if the underlying circumstances were to change. Changes in underlying assumptions, circumstances or estimates may adversely affect future period financial performance. For additional information on our accounting policies for recognizing sales and profits, see our discussion under “Management’s Discussion and Analysis – Critical Accounting Policies – Contract Accounting/Program Accounting” on pages 41 – 43 and Note 1 to our Consolidated Financial Statements on pages 52 – 64 of this Form 10-K.

Competition within our markets and with respect to the products we sell may reduce our future contracts and sales.

The markets in which we operate are highly competitive and one or more of our competitors may have more extensive or more specialized engineering, manufacturing and marketing capabilities than we do in some areas. In our Commercial Airplanes business, we anticipate increasing competition among non-U.S. aircraft manufacturers of commercial jet aircraft. In our BDS business, we anticipate that the effects of defense industry consolidation, fewer large and new programs and new priorities, including near and long-term cost competitiveness, of our U.S. DoD and non-U.S. will intensify competition for many of our BDS products. Our BGS segment faces competition from many of the same strong U.S. and non-U.S. competitors facing BCA and BDS. Furthermore, we are facing increased international competition and cross-border consolidation of competition. There can be no assurance that we will be able to compete successfully against our current or future competitors or that the competitive pressures we face will not result in reduced revenues and market share.

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We derive a significant portion of our revenues from non-U.S. sales and are subject to the risks of doing business in other countries.

In 2017, non-U.S. customers, which includes FMS, accounted for approximately 55% of our revenues. We expect that non-U.S. sales will continue to account for a significant portion of our revenues for the foreseeable future. As a result, we are subject to risks of doing business internationally, including:

• changes in regulatory requirements;

• U.S. and non-U.S. government policies, including requirements to expend a portion of program funds locally and governmental industrial cooperation or participation requirements;

• fluctuations in international currency exchange rates;

• volatility in international political and economic environments and changes in non-U.S. national priorities and budgets, which can lead to delays or fluctuations in orders;

• the complexity and necessity of using non-U.S. representatives and consultants;

• the uncertainty of the ability of non-U.S. customers to finance purchases, including the availability of financing from the Export-Import Bank of the United States;

• uncertainties and restrictions concerning the availability of funding credit or guarantees;

• imposition of domestic and international taxes, export controls, tariffs, embargoes, sanctions and other trade restrictions;

• the difficulty of management and operation of an enterprise spread over many countries;

• compliance with a variety of non-U.S. laws, as well as U.S. laws affecting the activities of U.S. companies abroad; and

• unforeseen developments and conditions, including terrorism, war, epidemics and international tensions and conflicts.

While the impact of these factors is difficult to predict, any one or more of these factors could adversely affect our operations in the future.

Unauthorized access to our or our customers’ information and systems could negatively impact our business.

We face certain security threats, including threats to the confidentiality, availability and integrity of our data and systems. We maintain an extensive network of technical security controls, policy enforcement mechanisms, monitoring systems and management oversight in order to address these threats. While these measures are designed to prevent, detect and respond to unauthorized activity in our systems, certain types of attacks, including cyber-attacks, could result in significant financial or information losses and/or reputational harm. In addition, we manage information and information technology systems for certain customers. Many of these customers face similar security threats. If we cannot prevent the unauthorized access, release and/or corruption of our customers’ confidential, classified or personally identifiable information, our reputation could be damaged, and/or we could face financial losses.

The outcome of litigation and of government inquiries and investigations involving our business is unpredictable and an adverse decision in any such matter could have a material effect on our financial position and results of operations.

We are involved in a number of litigation matters. These matters may divert financial and management resources that would otherwise be used to benefit our operations. No assurances can be given that the results of these matters will be favorable to us. An adverse resolution of any of these lawsuits, or future lawsuits, could have a material impact on our financial position and results of operations. In addition, we

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are subject to extensive regulation under the laws of the United States and its various states, as well as other jurisdictions in which we operate. As a result, we are sometimes subject to government inquiries and investigations of our business due, among other things, to our business relationships with the U.S. government, the heavily regulated nature of our industry, and in the case of environmental proceedings, our current or past ownership of certain property. Any such inquiry or investigation could potentially result in an adverse ruling against us, which could have a material impact on our financial position and results of operations.

A significant portion of our customer financing portfolio is concentrated among certain customers and in certain types of Boeing aircraft, which exposes us to concentration risks.

A significant portion of our customer financing portfolio is concentrated among certain customers and in distinct geographic regions. Our portfolio is also concentrated by varying degrees across Boeing aircraft product types, most notably 717 and 747-8 aircraft, and among customers that we believe have less than investment-grade credit. If one or more customers holding a significant portion of our portfolio assets experiences financial difficulties or otherwise defaults on or does not renew its leases with us at their expiration, and we are unable to redeploy the aircraft on reasonable terms, or if the types of aircraft that are concentrated in our portfolio suffer greater than expected declines in value, our earnings, cash flows and/or financial position could be materially adversely affected.

We may be unable to obtain debt to fund our operations and contractual commitments at competitive rates, on commercially reasonable terms or in sufficient amounts.

We depend, in part, upon the issuance of debt to fund our operations and contractual commitments. As of December 31, 2017 and 2016, our airplane financing commitments totaled $10,221 million and $14,847 million. If we require additional funding in order to fund outstanding financing commitments or meet other business requirements, our market liquidity may not be sufficient. A number of factors could cause us to incur increased borrowing costs and to have greater difficulty accessing public and private markets for debt. These factors include disruptions or declines in the global capital markets and/or a decline in our financial performance, outlook or credit ratings. The occurrence of any or all of these events may adversely affect our ability to fund our operations and contractual or financing commitments.

We may not realize the anticipated benefits of mergers, acquisitions, joint ventures/strategic alliances or divestitures.

As part of our business strategy, we may merge with or acquire businesses and/or form joint ventures and strategic alliances. Whether we realize the anticipated benefits from these acquisitions and related activities depends, in part, upon our ability to integrate the operations of the acquired business, the performance of the underlying product and service portfolio, and the performance of the management team and other personnel of the acquired operations. Accordingly, our financial results could be adversely affected by unanticipated performance issues, legacy liabilities, transaction-related charges, amortization of expenses related to intangibles, charges for impairment of long-term assets, credit guarantees, partner performance and indemnifications. Consolidations of joint ventures could also impact our reported results of operations or financial position. While we believe that we have established appropriate and adequate procedures and processes to mitigate these risks, there is no assurance that these transactions will be successful. We also may make strategic divestitures from time to time. These transactions may result in continued financial involvement in the divested businesses, such as through guarantees or other financial arrangements, following the transaction. Nonperformance by those divested businesses could affect our future financial results through additional payment obligations, higher costs or asset write-downs.

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Our insurance coverage may be inadequate to cover all significant risk exposures.

We are exposed to liabilities that are unique to the products and services we provide. We maintain insurance for certain risks and, in some circumstances, we may receive indemnification from the U.S. government. The amount of our insurance coverage may not cover all claims or liabilities and we may be forced to bear substantial costs. For example, liabilities arising from the use of certain of our products, such as aircraft technologies, missile systems, border security systems, anti-terrorism technologies, and/or air traffic management systems may not be insurable on commercially reasonable terms. While some of these products are shielded from liability within the U.S. under the SAFETY Act provisions of the 2002 Homeland Security Act, no such protection is available outside the U.S., potentially resulting in significant liabilities. The amount of insurance coverage we maintain may be inadequate to cover these or other claims or liabilities.

Business disruptions could seriously affect our future sales and financial condition or increase our costs and expenses.

Our business may be impacted by disruptions including threats to physical security, information technology or cyber-attacks or failures, damaging weather or other acts of nature and pandemics or other public health crises. Any of these disruptions could affect our internal operations or our ability to deliver products and services to our customers. Any significant production delays, or any destruction, manipulation or improper use of our data, information systems or networks could impact our sales, increase our expenses and/or have an adverse effect on the reputation of Boeing and of our products and services.

Some of our and our suppliers’ workforces are represented by labor unions, which may lead to work stoppages.

Approximately 52,000 employees, which constitute 37% of our total workforce, were union represented as of December 31, 2017. We experienced a work stoppage in 2008 when a labor strike halted commercial aircraft and certain BDS program production. We may experience additional work stoppages in the future, which could adversely affect our business. We cannot predict how stable our relationships, currently with 10 U.S. labor organizations and 7 non-U.S. labor organizations, will be or whether we will be able to meet the unions’ requirements without impacting our financial condition. The unions may also limit our flexibility in dealing with our workforce. Union actions at suppliers can also affect us. Work stoppages and instability in our union relationships could delay the production and/or development of our products, which could strain relationships with customers and cause a loss of revenues which would adversely affect our operations.

Substantial pension and other postretirement benefit obligations have a material impact on our earnings, shareholders’ equity and cash flows from operations, and could have significant adverse impacts in future periods.

The majority of our employees have earned benefits under defined benefit pension plans. Potential pension contributions include both mandatory amounts required under the Employee Retirement Income Security Act and discretionary contributions to improve the plans' funded status. The extent of future contributions depends heavily on market factors such as the discount rate and the actual return on plan assets. We estimate future contributions to these plans using assumptions with respect to these and other items. Changes to those assumptionscould have a significant effect on future contributions as well as on our annual pension costs and/or result in a significant change to shareholders' equity. For U.S. government contracts, we allocate pension costs to individual contracts based on U.S. Cost Accounting Standards which can also affect contract profitability. We also provide other postretirement benefits to certain of our employees, consisting principally of health care coverage for eligible retirees and qualifying dependents. Our estimates of future costs associated with these benefits are also subject to assumptions, including

13

estimates of the level of medical cost increases. For a discussion regarding how our financial statements can be affected by pension and other postretirement plan accounting policies, see “Management's Discussion and Analysis-Critical Accounting Policies-Pension Plans” on page 43 of this Form 10-K. Although GAAP expense and pension or other postretirement benefit contributions are not directly related, the key economic factors that affect GAAP expense would also likely affect the amount of cash or stock we would contribute to our plans.

Our operations expose us to the risk of material environmental liabilities.

We are subject to various U.S. federal, state, local and non-U.S. laws and regulations related to environmental protection, including the discharge, treatment, storage, disposal and remediation of hazardous substances and wastes. We could incur substantial costs, including cleanup costs, fines and civil or criminal sanctions, as well as third-party claims for property damage or personal injury, if we were to violate or become liable under environmental laws or regulations. In some cases, we may be subject to such costs due to environmental impacts attributable to our current or past manufacturing operations or the operations of companies we have acquired. In other cases, we may become subject to such costs due to an indemnification agreement between us and a third party relating to such environmental liabilities. In addition, new laws and regulations, more stringent enforcement of existing laws and regulations, the discovery of previously unknown contamination or the imposition of new remediation requirements could result in additional costs. For additional information relating to environmental contingencies, see Note 11 to our Consolidated Financial Statements.

Item 1B. Unresolved Staff Comments

Not applicable

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Item 2. Properties

We occupied approximately 85 million square feet of floor space on December 31, 2017 for manufacturing, warehousing, engineering, administration and other productive uses, of which approximately 96% was located in the United States. The following table provides a summary of the floor space by business as of December 31, 2017:

(Square feet in thousands)	Owned	Leased	Government Owned(1)	Total
Commercial Airplanes	41,115	2,455		43,570
Defense, Space & Security	26,449	5,390		31,839
Global Services	681	5,274		5,955
Other(2)	2,448	915	305	3,668
Total	70,693	14,034	305	85,032

⁽¹⁾ Excludes rent-free space furnished by U.S. government landlord of 49 square feet.

⁽²⁾ Other includes BCC, sites used for common internal services, and our Corporate Headquarters.

At December 31, 2017, we occupied in excess of 77.8 million square feet of floor space at the following major locations:

• Commercial Airplanes – Greater Seattle, WA; Greater Charleston, SC; Portland, OR; Greater Los Angeles, CA; Greater Salt Lake City, UT; Australia; and Canada

• Defense, Space & Security – Greater St. Louis, MO; Greater Los Angeles, CA; Greater Seattle, WA; Philadelphia, PA; Mesa, AZ; Huntsville, AL; Oklahoma City, OK; Heath, OH; Greater Washington, DC; and Houston, TX

• Global Services – San Antonio, TX; Dallas, TX; and Mesa, AZ

• Other – Chicago, IL; Greater Seattle, WA; and Greater Washington, DC

Most runways and taxiways that we use are located on airport properties owned by others and are used jointly with others. Our rights to use such facilities are provided for under long-term leases with municipal, county or other government authorities. In addition, the U.S. government furnishes us certain office space, installations and equipment at U.S. government bases for use in connection with various contract activities.

We believe that our major properties are adequate for our present needs and, as supplemented by planned improvements and construction, expect them to remain adequate for the foreseeable future.

Item 3. Legal Proceedings

Currently, we are involved in a number of legal proceedings. For a discussion of contingencies related to legal proceedings, see Note 20 to our Consolidated Financial Statements, which is hereby incorporated by reference.

Item 4. Mine Safety Disclosures

Not applicable

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PART II

Item 5. Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities

The principal market for our common stock is the New York Stock Exchange where it trades under the symbol BA. As of February 5, 2018, there were 108,310 shareholders of record. Additional information required by this item is incorporated by reference from Note 22 to our Consolidated Financial Statements.

Issuer Purchases of Equity Securities

The following table provides information about purchases we made during the quarter ended December 31, 2017 of equity securities that are registered by us pursuant to Section 12 of the Exchange Act:

(Dollars in millions, except per share data)

	(a)	(b)		(c)	(d)
	Total Number of Shares Purchased(1)	Average Price Paid per Share		Total Number of Shares Purchased as Part of Publicly Announced Plans or Programs	Approximate Dollar Value of Shares That May Yet be Purchased Under the Plans or Programs(2)
10/1/2017 thru 10/31/2017	3,860,891		$259.30	3,856,749		$5,501
11/1/2017 thru 11/30/2017	2,806,168	262.85		2,800,181	4,765
12/1/2017 thru 12/31/2017	39,098	276.49			18,000
Total	6,706,157		$260.89	6,656,930

⁽¹⁾  We purchased an aggregate of 6,656,930 shares of our common stock in the open market pursuant to our repurchase plan and 49,227 shares transferred to us from employees in satisfaction of minimum tax withholding obligations associated with the vesting of restricted stock units during the period. We did not purchase shares in swap transactions.

⁽²⁾  On December 11, 2017, we announced a new repurchase plan for up to $18 billion of common stock, replacing the plan previously authorized in 2016.

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Item 6. Selected Financial Data

Five-Year Summary (Unaudited)
(Dollars in millions, except per share data)	2017		2016		2015		2014		2013
Revenues		$93,392		$94,571		$96,114		$90,762		$86,623
Net earnings from continuing operations		$8,197		$4,895		$5,176		$5,446		$4,586
Basic earnings per share from continuing operations		$13.60		$7.70		$7.52		$7.47		$6.03
Diluted earnings per share from continuing operations	13.43		7.61		7.44		7.38		5.96
Dividends declared per share(1)	5.97		4.69		3.82		3.10		2.185
Cash and cash equivalents		$8,813		$8,801		$11,302		$11,733		$9,088
Short-term and other investments	1,179		1,228		750		1,359		6,170
Total assets	92,333		89,997		94,408		92,921		90,014
Total debt	11,117		9,952		9,964		9,070		9,635
Operating cash flow		$13,344		$10,499		$9,363		$8,858		$8,179
Total backlog		$488,145		$473,492		$489,299		$502,391		$440,928
Year-end workforce	140,800		150,500		161,400		165,500		168,400

⁽¹⁾ Cash dividends have been paid on common stock every year since 1942.

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Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations

Consolidated Results of Operations and Financial Condition

Overview

We are a global market leader in the design, development, manufacture, sale, service and support of commercial jetliners, military aircraft, satellites, missile defense, human space flight and launch systems and services. We are one of the two major manufacturers of 100+ seat airplanes for the worldwide commercial airline industry and one of the largest defense contractors in the U.S. While our principal operations are in the U.S., we conduct operations in an expanding number of countries and rely on an extensive network of non-U.S. partners, key suppliers and subcontractors.

Our strategy is centered on successful execution in healthy core businesses – Commercial Airplanes (BCA), Defense, Space & Security (BDS), and Global Services (BGS) – supplemented and supported by Boeing Capital (BCC). Taken together, these core businesses have historically generated substantial earnings and cash flow that permit us to invest in new products and services. We focus on producing the products and providing the services that the market demands, and continue to find new ways to improve efficiency and quality to provide a fair return for our shareholders. BCA is committed to being the leader in commercial aviation by offering airplanes and services that deliver superior design, efficiency and value to customers around the world. BDS integrates its resources in defense, intelligence, communications, security, space and services to deliver capability-driven solutions to its customers at reduced costs. Our BDS strategy is to leverage our core businesses to capture key next-generation programs while expanding our presence in adjacent and international markets, underscored by an intense focus on growth and productivity. BGS provides support for commercial, defense and space customers through innovative, comprehensive, and cost-competitive product and service solutions. Our strategy also benefits us as the cyclicality of commercial and defense markets sometimes offset. BCC facilitates, arranges, structures and provides selective financing solutions for our Boeing customers.

Consolidated Results of Operations

The following table summarizes key indicators of consolidated results of operations:

(Dollars in millions, except per share data)
Years ended December 31,	2017			2016			2015
Revenues		$93,392			$94,571			$96,114
GAAP
Earnings from operations	10,278			5,834			7,443
Operating margins	11.0		%	6.2		%	7.7		%
Effective income tax rate	18.4		%	12.1		%	27.7		%
Net earnings		$8,197			$4,895			$5,176
Diluted earnings per share		$13.43			$7.61			$7.44
Non-GAAP (1)
Core operating earnings		$8,970			$5,464			$7,741
Core operating margins	9.6		%	5.8		%	8.1		%
Core earnings per share		$12.04			$7.24			$7.72

⁽¹⁾ These measures exclude certain components of pension and other postretirement benefit expense. See page 39 - 40 for important information about these non-GAAP measures and reconciliations to the most comparable GAAP measures.

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Revenues

The following table summarizes Revenues:

(Dollars in millions)
Years ended December 31,	2017		2016			2015
Commercial Airplanes		$56,729		$58,012			$59,399
Defense, Space & Security	21,057		22,563			23,708
Global Services	14,639		13,925			13,293
Boeing Capital	307		298			413
Unallocated items, eliminations and other	660		(227		)	(699		)
Total		$93,392		$94,571			$96,114

Revenues in 2017decreased by $1,179 million or 1% compared with 2016. BCA revenues decreased by $1,283 million or 2% primarily due to delivery mix, with fewer twin aisle deliveries more than offsetting the impact of higher single aisle deliveries. BDS revenues decreased by $1,506 million primarily due to fewer C-17 deliveries, lower milestone revenue on satellite programs, and the mix of deliveries on the Apache and F-15 programs, partially offset by higher volume on various weapons programs. The decreases at BCA and BDS were partially offset by higher unallocated revenue and higher BGS revenue, primarily due to higher commercial parts revenue.

Revenues in 2016 decreased by $1,543 million or 2% compared with 2015. BCA revenues decreased by $1,387 million or 2% due fewer deliveries. BDS revenues decreased by $1,145 million or 5% primarily due to lower milestone revenue on government satellite programs,fewer C-17 deliveries, lower Commercial Crew revenue, as well as timing and mix of CH-47 Chinook deliveries, partially offset by higher revenue on several modifications and upgrades programs. The decreases at BCA and BDS were partially offset by higher BGS revenue, primarily due to higher commercial parts revenue and government services revenue.

The changes in unallocated items, eliminations and other in 2017, 2016 and 2015 primarily reflect the timing of eliminations for intercompany aircraft deliveries and the sale of aircraft previously leased to customers.

Earnings From Operations

The following table summarizes Earnings from operations:

(Dollars in millions)
Years ended December 31,	2017			2016			2015
Commercial Airplanes		$5,432			$1,995			$4,284
Defense, Space & Security	2,223			1,966			2,312
Global Services	2,256			2,177			1,835
Boeing Capital	114			59			50
Unallocated pension and other postretirement benefit income/(expense)	1,308			370			(298		)
Other unallocated items and eliminations	(1,055		)	(733		)	(740		)
Earnings from operations (GAAP)		$10,278			$5,834			$7,443
Unallocated pension and other postretirement benefit	(1,308		)	(370		)	298
Core operating earnings (Non-GAAP)		$8,970			$5,464			$7,741

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Earnings from operations in 2017increased by $4,444 million compared with 2016, primarily due to higher earnings at BCA and BDS, and higher unallocated pension income, which more than offset other unallocated items and eliminations. BCA's 2017 earnings increased by $3,437 million primarily reflecting lower reach-forward losses, lower research and development costs, and improved margins reflecting favorable cost performance, which more than offset the impact of lower revenues. In 2016, BCA recorded reach-forward losses of $1,258 million on the 747 program and reclassified $1,235 million of 787 flight test aircraft inventory costs to research and development expense.

BDS earnings from operations in 2017increased by $257 million compared with 2016 primarily due to lower charges on the KC-46A Tanker and Commercial Crew programs, which more than offset the impact of fewer C-17 deliveries and Apache delivery mix.

Earnings from operations in 2016 decreased by $1,609 million compared with 2015 due to lower earnings at BCA, partially offset by the change in unallocated pension and postretirement income/(expense). BCA earnings in 2016 decreased by $2,289 million primarily due to the reclassification of $1,235 million of 787 flight test aircraft costs to research and development and higher reach-forward losses on the 747 and KC-46A Tanker programs. The reclassification of flight test aircraft costs was recorded in the second quarter of 2016 as a result of our determination that two 787 flight test aircraft were no longer commercially saleable. The change in the unallocated pension and postretirement income/(expense) in 2016 was primarily driven by lower service costs and lower amortization of actuarial losses.

During 2017, 2016 and 2015, we recorded reach-forward losses on the KC-46A Tanker program. In 2017, we recorded charges of $471 million, of which $378 million was recorded at BCA and $93 million at BDS. During 2016, we recorded charges of $1,128 million: $772 million at BCA and $356 million at BDS. During 2015, we recorded charges of $835 million: $513 million at BCA and $322 million at BDS. During 2016 and 2015 we recorded reach-forward losses on the 747 program of $1,258 million and $885 million.

Core operating earnings for 2017increased by $3,506 million compared with 2016 primarily due to lower reach forward losses and the reclassification of costs related to the 787 flight test aircraft in 2016.

Core operating earnings in 2016 decreased by $2,227 million compared with 2015 primarily due to the reclassification of costs related to the 787 flight test aircraft and higher charges on the 747 and KC-46A Tanker programs described above.

Unallocated Items, Eliminations and Other The most significant items included in Unallocated items, eliminations and other are shown in the following table:

(Dollars in millions)
Years ended December 31,	2017			2016			2015
Share-based plans		($77	)		($66	)		($76	)
Deferred compensation	(240		)	(46		)	(63		)
Eliminations and other	(738		)	(621		)	(601		)
Sub-total (included in core operating earnings*)	(1,055		)	(733		)	(740		)
Pension	1,120			217			(421		)
Postretirement	188			153			123
Pension and other postretirement benefit income/(expense) (excluded from core operating earnings*)	1,308			370			(298		)
Total unallocated items, eliminations and other		$253			($363	)		($1,038	)

* Core operating earnings is a Non-GAAP measure that excludes certain components of pension and other postretirement benefit expense. See pages 39 - 40.

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Deferred compensation expense increased by $194 million in 2017 and decreased by $17 million in 2016, primarily driven by changes in broad stock market conditions and our stock price.

Eliminations and other unallocated expense increased by $117 million in 2017 and increased by $20 million in 2016 primarily due to the timing of the elimination of profit on intercompany aircraft deliveries and expense allocations.

Net periodic benefit cost related to pension totaled $312 million, $523 million and $2,786 million in 2017, 2016 and 2015, respectively. The components of net periodic benefit cost are shown in the following table:

	Pension
Years ended December 31,	2017			2016			2015
Service cost		$402			$604			$1,764
Interest cost	2,991			3,050			2,990
Expected return on plan assets	(3,847		)	(3,999		)	(4,031		)
Amortization of prior service costs	(39		)	38			196
Recognized net actuarial loss	804			790			1,577
Settlement/curtailment/other losses	1			40			290
Net periodic benefit cost		$312			$523			$2,786

The decreases in net periodic pension benefit costs of $211 million in 2017 and of $2,263 million in 2016 are primarily due to lower service costs reflecting the transition of employees in 2016 to defined contribution retirement savings plans. The decrease in 2016 costs is also due to lower amortization of actuarial losses which reflects actuarial gains in 2015 resulting from the year-end discount rate increase from 3.9% to 4.2%.

A portion of net periodic benefit cost is recognized in Earnings from operations in the period incurred and the remainder is included in inventory at the end of the reporting period and recorded in Earnings from operations in subsequent periods. Costs are allocated to the business segments as described in Note 21.

Net periodic benefit costs included in Earnings from operations were as follows:

(Dollars in millions)	Pension
Years ended December 31,	2017			2016			2015
Allocated to business segments		($1,759	)		($2,196	)		($1,945	)
Unallocated items, eliminations and other	1,120			217			(421		)
Total		($639	)		($1,979	)		($2,366	)

The unallocated pension costs recognized in earnings in 2017 was a benefit of $1,120 million compared with $217 million in 2016. The higher unallocated pension benefit recognized in earnings in 2017 primarily reflects the amortization of pension benefits capitalized as inventory in prior years. The unallocated pension costs recognized in earnings in 2016 was a benefit of $217 million compared with expense of $421 million in 2015. The 2016 benefit reflects the difference between the higher segment allocation compared to the U.S. GAAP net periodic pension costs recognized in earnings in the current period.

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Other Earnings Items

(Dollars in millions)
Years ended December 31,	2017			2016			2015
Earnings from operations		$10,278			$5,834			$7,443
Other income/(loss), net	129			40			(13		)
Interest and debt expense	(360		)	(306		)	(275		)
Earnings before income taxes	10,047			5,568			7,155
Income tax expense	(1,850		)	(673		)	(1,979		)
Net earnings from continuing operations		$8,197			$4,895			$5,176

Other income, net increased by $89 million and $53 million in 2017 and 2016, primarily due to higher gains from foreign exchange and interest income.

Interest and debt expense increased by $54 million in 2017 as a result of lower capitalized interest and increased by $31 million in 2016 as a result of higher average debt balances.

Our effective income tax rates were 18.4%, 12.1% and 27.7% for the years ended December 31, 2017, 2016 and 2015, respectively. The Tax Cuts and Jobs Act, enacted in December 2017, reduced the 2017 effective tax rate by 10.5% and resulted in incremental tax benefits of $1,051 million, primarily related to the remeasurement of our U.S. net deferred tax liabilities to reflect the reduction in the corporate tax rate from 35% to 21%. Our 2016 effective tax rate was lower than the 2015 rate primarily due to lower pre-tax income in 2016 and discrete tax benefits of $617 million recorded in the third quarter of 2016 related to tax basis adjustments and the settlement of the 2011-2012 federal tax audit.

For additional discussion related to Income Taxes, see Note 4 to our Consolidated Financial Statements.

Total Costs and Expenses (“Cost of Sales”)

Cost of sales, for both products and services, consists primarily of raw materials, parts, sub-assemblies, labor, overhead and subcontracting costs. Our Commercial Airplanes segment predominantly uses program accounting to account for cost of sales, BDS predominantly uses contract accounting and BGS uses contract accounting for defense contracts. Under program accounting, cost of sales for each commercial airplane program equals the product of (i) revenue recognized in connection with customer deliveries and (ii) the estimated cost of sales percentage applicable to the total remaining program. Under contract accounting, the amount reported as cost of sales is determined by applying the estimated cost of sales percentage to the amount of revenue recognized.

The following table summarizes cost of sales:

(Dollars in millions)
Years ended December 31,	2017			2016			Change			2016			2015			Change
Cost of sales		$76,066			$80,790			($4,724	)		$80,790			$82,088			($1,298	)
Cost of sales as a % of revenues	81.4		%	85.4		%	(4.0		%)	85.4		%	85.4		%	0.0		%

Cost of sales in 2017 decreased by $4,724 million, or 6%, compared with 2016, primarily due to lower reach-forward losses, delivery model mix at BCA and improved performance at BCA and BDS.

Cost of sales in 2016 decreased by $1,298 million, or 2%, compared with 2015, primarily due to lower volume across all segments, partially offset by the 747 reach-forward losses at BCA.

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Research and Development The following table summarizes our Research and development expense:

(Dollars in millions)
Years ended December 31,	2017			2016			2015
Commercial Airplanes		$2,247			$3,706			$2,311
Defense, Space & Security	834			815			902
Global Services	140			153			113
Other	(42		)	(47		)	5
Total		$3,179			$4,627			$3,331

Research and development expense in 2017decreased by $1,448 million compared with 2016 primarily due to the reclassification of $1,235 million of costs from inventory in the second quarter of 2016 related to the fourth and fifth 787 flight test aircraft as well as lower spending on the 737 MAX, 787-10, and 777X.

Research and development expense in 2016 increased by $1,296 million compared with 2015 primarily due to the reclassification of $1,235 million of costs from inventory in the second quarter of 2016 related to the fourth and fifth 787 flight test aircraft and higher spending on the 777X.

Backlog

Our backlog at December 31 was as follows:

(Dollars in millions)
Years ended December 31,	2017		2016		2015
Commercial Airplanes		$421,345		$413,036		$429,346
Defense, Space & Security	49,577		44,825		46,933
Global Services	17,223		15,631		13,020
Total Backlog		$488,145		$473,492		$489,299
Contractual backlog	470,241		458,277		476,595
Unobligated backlog	17,904			$15,215		$12,704
Total Backlog		$488,145		$473,492		$489,299

Contractual backlog of unfilled orders excludes purchase options, announced orders for which definitive contracts have not been executed, and unobligated U.S. and non-U.S. government contract funding. The increase in contractual backlog during 2017 was primarily due to orders and funding in excess of deliveries. The decrease in contractual backlog during 2016 was primarily due to deliveries in excess of net orders.

Unobligated backlog includes U.S. and non-U.S. government definitive contracts for which funding has not been authorized. The increase in unobligated backlog in 2017 and 2016 was primarily due to contract awards, partially offset by reclassifications to contractual backlog related to BDS and BGS contracts.

Additional Considerations

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. The KC-46A Tanker is a derivative of our 767 commercial aircraft. This Engineering, Manufacturing and Development (EMD) contract is a fixed-price incentive fee contract valued at $4.9 billion and involves highly complex designs and systems integration. In 2015, we began work on low rate initial production (LRIP) aircraft for the USAF. During the third quarter of 2016, following our achievement of key flight testing milestones, the USAF authorized two LRIP lots for 7 and 12 aircraft valued at $2.8 billion. On January 27, 2017, the USAF authorized an additional

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LRIP lot for 15 aircraft valued at $2.1 billion. The contract contains production options for both LRIP aircraft and full rate production aircraft. If all options under the contract are exercised, we expect to deliver 179 aircraft for a total expected contract value of approximately $30 billion. The EMD contract is currently in the certification and flight testing phases and we expect 18 fully operational aircraft to be delivered in 2018.

During 2016 and 2015, we recorded reach-forward losses of $1,128 million and $835 million related to the EMD contract and LRIP aircraft. During 2017, we recorded further reach-forward losses of $471 million primarily reflecting higher estimated costs associated with certification and incorporating changes into LRIP aircraft. As with any development program, this program remains subject to additional reach-forward losses or delivery delays if we experience further production, technical or quality issues, delays in certification and/or flight testing.

Export-Import Bank of the United States Many of our non-U.S. customers finance purchases through the Export-Import Bank of the United States. Following the expiration of the bank’s charter on June 30, 2015, the bank’s charter was reauthorized in December 2015. The bank is now authorized through September 30, 2019. However, until the U.S. Senate confirms members sufficient to reconstitute a quorum of the bank’s board of directors, the bank will not be able to approve any transaction totaling more than $10 million. As a result, we may fund additional commitments and/or enter into new financing arrangements with customers. Certain of our non-U.S. customers also may seek to delay purchases if they cannot obtain financing at reasonable costs, and there may be further impacts with respect to future sales campaigns involving non-U.S. customers. We continue to work with our customers to mitigate risks associated with the lack of a quorum of the bank’s board of directors and assist with alternative third party financing sources.

Segment Results of Operations and Financial Condition

Commercial Airplanes

Business Environment and Trends

Airline Industry Environment Global economic growth, a primary driver for air travel, has returned to the long-term average of approximately 3%. Passenger traffic in 2017 is estimated to grow by more than 7%, exceeding the long-term trend of approximately 5%. While growth was strong across all major world regions, there continues to be variation between regions and airline business models. Airlines operating in the Asia Pacific regions and Europe, as well as low-cost-carriers globally, are currently leading the growth in passenger traffic. Air cargo traffic growth, building on the recovery that started in 2016, is expected to exceed 9% in 2017, driven by strong trade and industrial production in all regions.

Airline financial performance also plays a role in the demand for new capacity. Airlines continue to focus on increasing revenue through alliances, partnerships, new marketing initiatives, and effective leveraging of ancillary services and related revenues. Airlines are also focusing on reducing costs and renewing fleets to leverage more efficient airplanes. Net profits in 2017 are expected to approximate $35 billion, consistent with 2016.

The long-term outlook for the industry continues to remain positive due to the fundamental drivers of air travel growth: economic growth and the increasing propensity to travel due to increased trade, globalization, and improved airline services driven by liberalization of air traffic rights between countries. Our 20-year forecast projects a long-term average growth rate of 4.7% per year for passenger traffic and 4.2% for cargo traffic. Based on long-term global economic growth projections of 2.8% average annual GDP growth, we project a $6.1 trillion market for approximately 41,030 new airplanes over the next 20 years.

The industry remains vulnerable to exogenous developments including fuel price spikes, credit market shocks, acts of terrorism, natural disasters, conflicts, epidemics and increased global environmental regulations.

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Industry Competitiveness The commercial jet airplane market and the airline industry remain extremely competitive. Market liberalization in Europe, the Middle East and Asia is enabling low-cost airlines to continue gaining market share. These airlines are increasing the pressure on airfares. This results in continued cost pressures for all airlines and price pressure on our products. Major productivity gains are essential to ensure a favorable market position at acceptable profit margins.

Continued access to global markets remains vital to our ability to fully realize our sales potential and long-term investment returns. Approximately 91% of Commercial Airplanes’ total backlog, in dollar terms, is with non-U.S. airlines.

We face aggressive international competitors who are intent on increasing their market share. They offer competitive products and have access to most of the same customers and suppliers. With government support, Airbus has historically invested heavily to create a family of products to compete with ours. Regional jet makers Embraer and Bombardier continue to develop and market larger and increasingly more capable airplanes, including Embraer’s E-195 in the regional jet market and Bombardier’s C Series in the 100-150 seat transcontinental market. Additionally, other competitors from Russia, China and Japan are developing commercial jet aircraft. Some of these competitors have historically enjoyed access to government-provided financial support, including “launch aid,” which greatly reduces the cost and commercial risks associated with airplane development activities. This has enabled the development of airplanes without commercial viability; others to be brought to market more quickly than otherwise possible; and many offered for sale below market-based prices. Many competitors have continued to make improvements in efficiency, which may result in funding product development, gaining market share and improving earnings. This market environment has resulted in intense pressures on pricing and other competitive factors, and we expect these pressures to continue or intensify in the coming years.

We are focused on improving our products and services and continuing our cost-reduction efforts, which enhances our ability to compete. We are also focused on taking actions to ensure that Boeing is not harmed by unfair subsidization of competitors.

Results of Operations

(Dollars in millions)
Years ended December 31,	2017			2016			2015
Revenues		$56,729			$58,012			$59,399
% of total company revenues	61		%	61		%	62		%
Earnings from operations		$5,432			$1,995			$4,284
Operating margins	9.6		%	3.4		%	7.2		%
Research and development		$2,247			$3,706			$2,311

Revenues

Commercial Airplanes revenues decreased by $1,283 million or 2% in 2017 compared with 2016 due to delivery mix, with fewer twin aisle deliveries more than offsetting the impact of higher single aisle deliveries. Commercial Airplanes revenues decreased by $1,387 million or 2% in 2016 compared with 2015 primarily due to fewer deliveries.

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Commercial Airplanes deliveries as of December 31 were as follows:

	737	*	747	†	767	777	787	Total
2017
Cumulative deliveries	6,732		1,542		1,106	1,534	636
Deliveries	529	(17)	14	(1)	10	74	136	763
2016
Cumulative deliveries	6,203		1,528		1,096	1,460	500
Deliveries	490	(19)	9	(3)	13	99	137	748
2015
Cumulative deliveries	5,713		1,519		1,083	1,361	363
Deliveries	495	(15)	18	(3)	16	98	135	762

* Intercompany deliveries identified by parentheses

† Aircraft accounted for as revenues by BCA and as operating leases in consolidation identified by parentheses

Earnings From Operations

Earnings from operations in 2017increased by $3,437 million compared with 2016. The increase in earnings and operating margins is primarily due to lower reach-forward losses, lower research and development costs and improved margins reflecting favorable cost performance, which more than offset the impact of lower revenues.

Earnings from operations in 2016 decreased by $2,289 million compared with 2015. The decrease in earnings and operating margins is primarily due to higher research and development costs of $1,395 million, delivery mix and higher reach-forward losses on the 747 program of $1,258 million compared with $885 million in 2015. Research and development expense in 2016 reflect the reclassification from inventory to research and development expense of $1,235 million related to the fourth and fifth 787 flight test aircraft and higher planned spending related to the 777X program.

Reach-forward losses of $378 million, $772 million and $513 million were recorded related to the KC-46A Tanker in 2017, 2016 and 2015, respectively. During 2016 and 2015, we recorded reach-forward losses on the 747 program of $1,258 million and $885 million.

Backlog

Firm backlog represents orders for products and services where no contingencies remain before we and the customer are required to perform. Backlog does not include prospective orders where customer controlled contingencies remain, such as the customer receiving approval from its board of directors, shareholders or government or completing financing arrangements. All such contingencies must be satisfied or have expired prior to recording a new firm order even if satisfying such conditions is highly certain. Firm backlog excludes options. A number of our customers may have contractual remedies that may be implicated by program delays. We address customer claims and requests for other contractual relief as they arise. However, once orders are included in firm backlog, orders remain in backlog until canceled or fulfilled, although the value of orders is adjusted as changes to price and schedule are agreed to with customers.

BCA total backlog was $421,345 million, $413,036 million and $429,346 million at December 31, 2017, 2016 and 2015, respectively. The increase in 2017 was primarily due to net orders in excess of deliveries. The decrease in 2016 was primarily due to deliveries in excess of net orders.

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Accounting Quantity The accounting quantity is our estimate of the quantity of airplanes that will be produced for delivery under existing and anticipated contracts. The determination of the accounting quantity is limited by the ability to make reasonably dependable estimates of the revenue and cost of existing and anticipated contracts. It is a key determinant of the gross margins we recognize on sales of individual airplanes throughout a program’s life. Estimation of each program’s accounting quantity takes into account several factors that are indicative of the demand for that program, including firm orders, letters of intent from prospective customers and market studies. We review our program accounting quantities quarterly.

The accounting quantity for each program may include units that have been delivered, undelivered units under contract, and units anticipated to be under contract in the reasonable future (anticipated orders). In developing total program estimates, all of these items within the accounting quantity must be considered.

The following table provides details of the accounting quantities and firm orders by program as of December 31. Cumulative firm orders represent the cumulative number of commercial jet aircraft deliveries plus undelivered firm orders.

	Program
	737	747*	767	777	777X	787
2017
Program accounting quantities	9,800	1,570	1,171	1,625	**	1,400
Undelivered units under firm orders	4,668	12	98	102	326	658
Cumulative firm orders	11,400	1,554	1,204	1,636	326	1,294
2016
Program accounting quantities	9,000	1,555	1,159	1,625	**	1,300
Undelivered units under firm orders	4,452	28	93	136	306	700
Cumulative firm orders	10,655	1,556	1,189	1,596	306	1,200
2015
Program accounting quantities	8,400	1,574	1,147	1,650	**	1,300
Undelivered units under firm orders	4,392	20	80	218	306	779
Cumulative firm orders	10,105	1,539	1,163	1,579	306	1,142

* At December 31, 2017, the 747 accounting quantity includes one already completed aircraft which is being remarketed.

** The accounting quantity for the 777X will be determined in the year of first airplane delivery, targeted for 2020.

Program Highlights

737 Program The accounting quantity for the 737 program increased by 800 units during 2017 due to the program’s normal progress of obtaining additional orders and delivering airplanes. We are currently producing at a rate of 47 per month and plan to increase to 52 per month in 2018. We plan to further increase the rate to 57 per month in 2019. We delivered the first 737 MAX 8 in May 2017 and announced the launch of the 737 MAX 10 in June 2017.

747 Program During the fourth quarter of 2017, we received firm orders and commitments for 15 aircraft and we increased the program accounting quantity by 15 aircraft. The program accounting quantity now includes aircraft scheduled to be produced through 2021. We are currently producing at a rate of 0.5 aircraft per month, having reduced the rate from 1.0 per month in September 2016. In 2016 and 2015, we recorded reach-forward losses of $1,258 million and $885 million as lower than expected demand for large commercial passenger and freighter aircraft and slower-than-expected growth of global freight traffic

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resulted in lower anticipated revenues from future sales and higher costs to produce fewer airplanes. We continue to evaluate the viability of the 747 program and it is reasonably possible that we could decide to end production of the 747.

767 Program The accounting quantity for the 767 program increased by 12 units during the third quarter of 2017 due to the program's normal progress of obtaining additional orders and delivering airplanes. The 767 assembly line includes a 767 derivative to support the tanker program. The combined tanker and commercial production rate increased from 2 per month to 2.5 per month in the third quarter of 2017.

777 Program We implemented a planned production rate decrease from 8.3 per month to 7 per month during the first quarter of 2017. We further reduced the rate to 5 per month in the third quarter of 2017. In the fourth quarter of 2013, we launched the 777X, which features a new composite wing, new engines and folding wing-tips. The 777X will have a separate program accounting quantity, which will be determined in the year of first airplane delivery, targeted for 2020.

787 Program The accounting quantity for the 787 program increased by 100 units during the third quarter of 2017 due to the program’s normal progress of obtaining additional orders and delivering airplanes. We are currently producing at a rate of 12 per month and plan to increase to 14 per month in 2019. First delivery of the 787-10 derivative aircraft is targeted for 2018.

Fleet Support We provide the operators of our commercial airplanes with assistance and services to facilitate efficient and safe airplane operation. Collectively known as fleet support services, these activities and services begin prior to airplane delivery and continue throughout the operational life of the airplane. They include flight and maintenance training, field service support, engineering services, information services and systems and technical data and documents. The costs for fleet support are expensed as incurred and have historically been approximately 1.0% of total consolidated costs of products and services.

Program Development The following chart summarizes the time horizon between go-ahead and planned initial delivery for major Commercial Airplanes derivatives and programs.

Go-ahead and Initial Delivery
737 MAX 7	2011					2019
737 MAX 8	2011			2017
737 MAX 9	2011				2018
737 MAX 10			2017				2020
787-10		2013			2018
777X		2013					2020

Reflects models in development during 2017

We launched the 737 MAX 7, 8, 9 in August 2011 and the 737 MAX 10 in June 2017. We launched the 787-10 in June 2013 and the 777X in November 2013.

Additional Considerations

The development and ongoing production of commercial aircraft is extremely complex, involving extensive coordination and integration with suppliers and highly-skilled labor from employees and other partners. Meeting or exceeding our performance and reliability standards, as well as those of customers and regulators, can be costly and technologically challenging. In addition, the introduction of new aircraft and derivatives, such as the 787-10 and 777X, involves increased risks associated with meeting development, production and certification schedules. As a result, our ability to deliver aircraft on time, satisfy performance and reliability standards and achieve or maintain, as applicable, program profitability is subject to significant risks. Factors that could result in lower margins (or a material charge if an airplane program has or is determined to have reach-forward losses) include the following: changes to the program accounting

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quantity, customer and model mix, production costs and rates, changes to price escalation factors due to changes in the inflation rate or other economic indicators, performance or reliability issues involving completed aircraft, capital expenditures and other costs associated with increasing or adding new production capacity, learning curve, additional change incorporation, achieving anticipated cost reductions, flight test and certification schedules, costs, schedule and demand for new airplanes and derivatives and status of customer claims, supplier assertions and other contractual negotiations. While we believe the cost and revenue estimates incorporated in the consolidated financial statements are appropriate, the technical complexity of our airplane programs creates financial risk as additional completion costs may become necessary or scheduled delivery dates could be extended, which could trigger termination provisions, order cancellations or other financially significant exposure.

Defense, Space & Security

Business Environment and Trends

United States Government Defense Environment Overview

In November 2017, Congress passed the National Defense Authorization Act for fiscal year 2018 (FY2018), which authorizes a U.S. DoD budget topline higher than the administration’s budget request from May. While the appropriations process for FY2018 remains incomplete, both the House and Senate appropriations committees have also produced bills that increase the U.S. DoD budget topline above the administration’s request. On February 9, 2018, Congress passed a fifth Continuing Resolution that maintains current funding levels through March 23, 2018 and includes increases to the Budget Control Act caps for defense and non-defense spending for FY2018 and FY2019. However, the Budget Control Act continues to mandate limits on U.S. government discretionary spending and remains in effect. As a result, continued budget uncertainty and the risk of future sequestration cuts will remain unless Congress acts to repeal or suspend this law.

Funding timeliness also remains a risk. If Congress is unable to pass appropriations bills or an omnibus spending bill before the expiration of the current Continuing Resolution, a government shutdown could result which may have impacts above and beyond those resulting from budget cuts, sequestration impacts or program-level appropriations. 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.

In addition, there continues to be uncertainty with respect to program-level appropriations for the U.S. DoD and other government agencies, including the National Aeronautics and Space Administration (NASA), within the overall budgetary framework described above. 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 the results of the Company’s operations, financial position and/or cash flows.

Non-U.S. Defense Environment Overview The non-U.S. market continues to be driven by complex and evolving security challenges and the need to modernize aging equipment and inventories. BDS expects that it will continue to have a wide range of opportunities across Asia, Europe and the Middle East given the diverse regional threats. At the end of 2017, 40% of BDS backlog was attributable to non-US customers.

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Results of Operations

(Dollars in millions)
Years ended December 31,	2017			2016			2015
Revenues		$21,057			$22,563			$23,708
% of total company revenues	23		%	24		%	25		%
Earnings from operations		$2,223			$1,966			$2,312
Operating margins	10.6		%	8.7		%	9.8		%

Since our operating cycle is long-term and involves many different types of development and production contracts with varying delivery and milestone schedules, the operating results of a particular year, or year-to-year comparisons of revenues, earnings and backlog may not be indicative of future operating results. In addition, depending on the customer and their funding sources, our orders might be structured as annual follow-on contracts, or as one large multi-year order or long-term award. As a result, period-to-period comparisons of backlog are not necessarily indicative of future workloads. The following discussions of comparative results among periods should be viewed in this context.

Deliveries of units for new-build production aircraft, including remanufactures and modifications were as follows:

Years ended December 31,	2017	2016	2015
F/A-18 Models	23	25	35
F-15 Models	16	15	12
C-17 Globemaster III		4	5
CH-47 Chinook (New)	9	25	41
CH-47 Chinook (Renewed)	35	25	16
AH-64 Apache (New)	11	31	23
AH-64 Apache (Remanufactured)	57	34	38
P-8 Models	19	18	14
AEW&C			1
C-40A		1	1
Total	170	178	186

New-build satellite deliveries were as follows:

Years ended December 31,	2017	2016	2015
Commercial and civil satellites	3	5	3
Military satellites	1	2	1

Revenues

BDS revenues in 2017decreased by $1,506 million compared with 2016 primarily due to fewer C-17 deliveries, lower milestone revenue on satellite programs, and the mix of deliveries on the Apache and F-15 programs, partially offset by higher volume on various weapons programs.

BDS revenues in 2016 decreased by $1,145 million compared with 2015 primarily due to lower milestone revenue on government satellite programs, fewer C-17 deliveries, lower Commercial Crew revenue, as well as timing and mix of CH-47 Chinook deliveries, partially offset by higher revenue on several modifications and upgrades programs.

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Earnings From Operations

BDS earnings from operations in 2017increased by $257 million compared with 2016 primarily due to lower charges on the KC-46A Tanker and Commercial Crew programs, which more than offset the impact of fewer C-17 deliveries and Apache delivery mix. Higher earnings reflect the favorable impact of cumulative catch-up adjustments which were $541 million higher in 2017 than in 2016, primarily driven by lower charges.

BDS earnings from operations in 2016 decreased by $346 million compared with 2015, primarily due to lower earnings on the Commercial Crew program, driven by a charge of $162 million during the third quarter of 2016, as well as lower volume and mix on the CH-47 Chinook program. Lower earnings include the unfavorable impact of cumulative contract catch-up adjustments which were $441 million higher than 2015, primarily due to Commercial Crew charges in 2016 and the absence of favorable F-15 program adjustments recorded in 2015.

BDS earnings from operations include equity earnings of $183 million, $249 million and $202 million primarily from our ULA joint venture in 2017, 2016 and 2015.

During 2017, 2016 and 2015, BDS recorded charges related to the KC-46A Tanker contract of $93 million, $356 million and $322 million.

Backlog

Total backlog of $49,577 million at December 31, 2017increased by 11% from December 31, 2016, primarily due to current year contract awards for the F-15 and Apache programs, partially offset by revenue recognized on contracts awarded in prior years.

Total backlog of $44,825 million at December 31, 2016 decreased by 4% reflecting revenue recognized on contracts awarded in prior years, partially offset by current year contract awards for satellite, P-8, weapons, Apache and CH-47 Chinook programs.

Additional Considerations

Our BDS business includes a variety of development programs which have complex design and technical challenges. Many of these programs have cost-type contracting arrangements. In these cases, the associated financial risks are primarily in reduced fees, lower profit rates or program cancellation if cost, schedule or technical performance issues arise. Examples of these programs include Ground-based Midcourse Defense, Proprietary and Space Launch System programs.

Some of our development programs are contracted on a fixed-price basis. Many of these programs have highly complex designs. As technical or quality issues arise during development, we may experience schedule delays and cost impacts, which could increase our estimated cost to perform the work or reduce our estimated price, either of which could result in a material charge or otherwise adversely affect our financial condition. These programs are ongoing, and while we believe the cost and fee estimates incorporated in the financial statements are appropriate, the technical complexity of these programs creates financial risk as additional completion costs may become necessary or scheduled delivery dates could be extended, which could trigger termination provisions, the loss of satellite in-orbit incentive payments, or other financially significant exposure. These programs have risk for reach-forward losses if our estimated costs exceed our estimated contract revenues. Examples of significant fixed-price development programs include KC-46A Tanker, Commercial Crew, Saudi F-15, and commercial and military satellites.

KC-46A Tanker See the discussion of the USAF KC-46A Tanker program on page 23.

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United Launch Alliance See the discussion of Indemnifications to ULA and Financing Commitments in Notes 6, 11, and 12 to our Consolidated Financial Statements.

F/A-18 See the discussion of the F/A-18 program in Note 11 to our Consolidated Financial Statements.

Sea Launch See the discussion of the Sea Launch receivables in Note 7 to our Consolidated Financial Statements.

Commercial Crew See the discussion of Fixed-Price Development Contracts in Note 11 to our Consolidated Financial Statements.

Global Services

Business Environment and Trends

The aerospace markets we serve include parts distribution, logistics, and other inventory services; maintenance, engineering, and upgrades; training and professional services; and information services. We expect the market to grow by around 3.5% annually.

As the size of the worldwide commercial airline fleet continues to grow, so does demand for aftermarket services designed to increase efficiency and extend the economic lives of airplanes. Airlines are using data analytics to plan flight operations and predictive maintenance to improve their productivity and efficiency. Airlines continue to look for opportunities to reduce the size and cost of their spare parts inventory, frequently outsourcing spares management to third parties.

Government services market segments are growing on pace with related fleets, but vary based on the utilization and age of the aircraft. The U.S. government services market is the single largest individual market, comprising over 50 percent of the government services markets served. Over the next decade, we expect U.S. growth to remain flat and non-U.S. fleets, led by Middle East and Asia Pacific customers, to add rotorcraft and commercial derivative aircraft at the fastest rates. We expect less than 20 percent of the worldwide fleet of military aircraft to be retired and replaced over the next ten years, driving increased demand for services to maintain aging aircraft and enhance aircraft capability.

BGS’ major customer, the U.S. government, remains subject to the spending limits and uncertainty described on page 29, which could restrict the execution of certain program activities and delay new programs or competitions.

Industry Competitiveness Aviation services is a competitive market with many domestic and international competitors. This market environment has resulted in intense pressures on pricing and we expect these pressures to continue or intensify in the coming years. Continued access to global markets remains vital to our ability to fully realize our sales growth potential and long-term investment returns.

Results of Operations

(Dollars in millions)
Years ended December 31,	2017			2016			2015
Revenues		$14,639			$13,925			$13,293
% of total company revenues	16		%	15		%	14		%
Earnings from operations		$2,256			$2,177			$1,835
Operating margins	15.4		%	15.6		%	13.8		%

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Revenues

BGS revenues in 2017 increased by $714 million compared with 2016 primarily due to higher commercial parts revenue.

BGS revenues in 2016 increased by $632 million compared with 2015 primarily due to higher commercial parts revenues and government services revenue.

Earnings From Operations

BGS earnings from operations in 2017 increased by $79 million compared with 2016 primarily due to higher revenues, partially offset by commercial services mix. Net favorable cumulative contract catch-up adjustments were $9 millionlower in 2017 than in 2016.

BGS earnings from operations in 2016increased by $342 million compared with 2015 primarily due to higher revenues and favorable mix of commercial parts and government services. Net favorable cumulative contract catch-up adjustments were $12 millionhigher in 2016 than in 2015.

Backlog

BGS total backlog of $17,223 million at December 31, 2017 increased by 10% from December 31, 2016, primarily due to current year contract awards including F-15, C-17, and Apache support programs.

BGS total backlog of $15,631 million at December 31, 2016 increased by 20% from December 31, 2015 primarily due to current year contract awards including the C-17 support program.

Boeing Capital

Business Environment and Trends

BCC’s gross customer financing and investment portfolio at December 31, 2017 totaled $3,006 million. A substantial portion of BCC’s portfolio is related to customers that we believe have less than investment-grade credit. BCC’s portfolio is also concentrated by varying degrees across Boeing aircraft product types, most notably 717 and 747-8 aircraft.

BCC provided customer financing of $480 million and $1,376 million during 2017 and 2016. While we may be required to fund a number of new aircraft deliveries in 2018 and/or provide refinancing for existing bridge debt, we expect alternative financing will be available at reasonable prices from broad and globally diverse sources. However, a number of factors could cause BCC’s new business volume to increase further, including if the Export-Import Bank of the United States continues to be unable to, or does not, approve new financing transactions.

Aircraft values and lease rates are impacted by the number and type of aircraft that are currently out of service. Approximately 2,000 western-built commercial jet aircraft (8.3% of current world fleet) were parked at the end of 2017, including both in-production and out-of-production aircraft types. Of these parked aircraft, approximately 2% are not expected to return to service. At the end of 2016 and 2015, 8.8% and 9.5% of the western-built commercial jet aircraft were parked. Aircraft valuations could decline if significant numbers of additional aircraft, particularly types with relatively few operators, are placed out of service.

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Results of Operations    

(Dollars in millions)
Years ended December 31,	2017			2016			2015
Revenues		$307			$298			$413
Earnings from operations		$114			$59			$50
Operating margins	37		%	20		%	12		%

Revenues

BCC segment revenues consist principally of lease income from equipment under operating lease, interest income from financing receivables and notes, and other income. BCC’s revenues in 2017 were consistent with 2016.

BCC’s revenues in 2016 decreased by $115 million compared with 2015 primarily due to lower lease income, and lower end of lease settlement payments.

Earnings From Operations

BCC’s earnings from operations are presented net of interest expense, provision for (recovery of) losses, asset impairment expense, depreciation on leased equipment and other operating expenses. Earnings from operations in 2017 increased by $55 million primarily due to lower asset impairment and depreciation expenses. Earnings from operations in 2016 increased by $9 million primarily due to lower asset impairment expense which more than offset lower revenues.

Financial Position

The following table presents selected financial data for BCC as of December 31:

(Dollars in millions)	2017		2016
Customer financing and investment portfolio, net		$3,003		$4,109
Other assets, primarily cash and short-term investments	677		346
Total assets		$3,680		$4,455
Other liabilities, primarily deferred income taxes		$653		$1,007
Debt, including intercompany loans	2,523		2,864
Equity	504		584
Total liabilities and equity		$3,680		$4,455
Debt-to-equity ratio	5.0-to-1		4.9-to-1

BCC’s customer financing and investment portfolio at December 31, 2017decreased from December 31, 2016, primarily due to $1,434 million of asset sales, note payoffs, and portfolio run-off, partially offset by new volume.

Aircraft subject to leases with a carrying value of approximately $25 million are scheduled to be returned off lease during 2018. We are seeking to remarket these aircraft or have the leases extended.

BCC enters into certain transactions with Boeing, reflected in Unallocated items, eliminations and other, in the form of intercompany guarantees and other subsidies that mitigate the effects of certain credit quality or asset impairment issues on the BCC segment.

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Liquidity and Capital Resources

Cash Flow Summary

(Dollars in millions)
Years ended December 31,	2017			2016			2015
Net earnings		$8,197			$4,895			$5,176
Non-cash items	2,652			2,559			2,392
Changes in working capital	2,495			3,045			1,795
Net cash provided by operating activities	13,344			10,499			9,363
Net cash used by investing activities	(2,062		)	(3,380		)	(1,846		)
Net cash used by financing activities	(11,350		)	(9,587		)	(7,920		)
Effect of exchange rate changes on cash and cash equivalents	80			(33		)	(28		)
Net decrease in cash and cash equivalents	12			(2,501		)	(431		)
Cash and cash equivalents at beginning of year	8,801			11,302			11,733
Cash and cash equivalents at end of period		$8,813			$8,801			$11,302

Operating Activities Net cash provided by operating activities was $13.3 billion during 2017, compared with $10.5 billion during 2016 and $9.4 billion in 2015. The increase of $2.8 billion in 2017 was primarily driven by higher advances more than offsetting inventory increases. The increase of $1.1 billion in 2016 was primarily due to lower expenditures on commercial airplane program inventory, primarily 787. Advances and progress billings increased by $4.6 billion in 2017, decreased by $1.9 billion in 2016 and increased by $0.4 billion in 2015. During 2017, our discretionary contributions to our pension plans included 14.4 million shares of our common stock with an aggregate value of $3.5 billion and $0.5 billion in cash. Discretionary contributions to our pension plans were insignificant in 2016 and 2015.

Investing Activities Cash used by investing activities during 2017, 2016 and 2015 was $2.1 billion, $3.4 billion and $1.8 billion. Capital expenditures totaled $1.7 billion in 2017, down from $2.6 billion in 2016 and $2.5 billion in 2015. We expect capital expenditures in 2018 to be higher than 2017. Net proceeds from investments was insignificant in 2017. Net contributions to investments were $0.5 billion in 2016 compared with net proceeds from investments of $0.6 billion in 2015.

Financing Activities Cash used by financing activities was $11.4 billion during 2017, an increase of $1.8 billion compared with 2016, primarily due to higher share repurchases and dividend payments. During 2017, our net borrowings were $1.1 billion compared with minimal net repayments in 2016. Cash used by financing activities was $9.6 billion during 2016, an increase of $1.7 billion compared with 2015, primarily due to lower net borrowings and higher dividend payments and share repurchases.

At December 31, 2017 and 2016 the recorded balance of debt was $11.1 billion and $10.0 billion of which $1.3 billion and $0.4 billion was classified as short-term. At December 31, 2017 and 2016 this included $2.5 billion and $2.9 billion of debt attributable to BCC, of which $0.9 billion and $0.1 billion were classified as short-term.

During 2017 and 2016 we repurchased 46.1 million and 55.1 million shares totaling $9.2 billion and $7.0 billion through our open market share repurchase program. In 2017 and 2016, we had 0.7 million shares transferred to us from employees for tax withholdings. At December 31, 2017, the amount available under the share repurchase plan, announced on December 11, 2017, totaled $18 billion.

Capital Resources We have substantial borrowing capacity. Any future borrowings may affect our credit ratings and are subject to various debt covenants as described below. We have a commercial paper

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program that serves as a source of short-term liquidity. At December 31, 2017, commercial paper borrowings totaling $600 million were supported by unused commitments under the revolving credit agreement. We had no commercial paper borrowings in 2016. Currently, we have $5.0 billion of unused borrowing capacity on revolving credit line agreements. We anticipate that these credit lines will primarily serve as backup liquidity to support our general corporate borrowing needs.

Financing commitments totaled $10.2 billion and $14.8 billion at December 31, 2017 and 2016. We anticipate that we will not be required to fund a significant portion of our financing commitments as we continue to work with third party financiers to provide alternative financing to customers. Historically, we have not been required to fund significant amounts of outstanding commitments. However, there can be no assurances that we will not be required to fund greater amounts than historically required. In addition, many of our non-U.S. customers finance aircraft purchases through the Export-Import Bank of the United States. Following the expiration of the bank’s charter on June 30, 2015, the bank’s charter was reauthorized in December 2015. The bank is now authorized through September 30, 2019. However, until the U.S. Senate confirms members sufficient to reconstitute a quorum of the bank’s board of directors, the bank will not be able to approve any transaction totaling more than $10 million. As a result, we may fund additional commitments and/or enter into new financing arrangements with customers.

In the event we require additional funding to support strategic business opportunities, our commercial aircraft financing commitments, unfavorable resolution of litigation or other loss contingencies, or other business requirements, we expect to meet increased funding requirements by issuing commercial paper or term debt. We believe our ability to access external capital resources should be sufficient to satisfy existing short-term and long-term commitments and plans, and also to provide adequate financial flexibility to take advantage of potential strategic business opportunities should they arise within the next year. However, there can be no assurance of the cost or availability of future borrowings, if any, under our commercial paper program, in the debt markets or our credit facilities.

At December 31, 2017 and 2016, our pension plans were $16.4 billion and $20.1 billion underfunded as measured under GAAP. On an Employee Retirement Income Security Act (ERISA) basis our plans are more than 100% funded at December 31, 2017 with minimal required contributions in 2018. During 2017, we contributed shares of our common stock with an aggregate value of $3.5 billion and $0.5 billion in cash. We do not expect to make contributions to our pension plans in 2018. We may be required to make higher contributions to our pension plans in future years.

At December 31, 2017, we were in compliance with the covenants for our debt and credit facilities. The most restrictive covenants include a limitation on mortgage debt and sale and leaseback transactions as a percentage of consolidated net tangible assets (as defined in the credit agreements), and a limitation on consolidated debt as a percentage of total capital (as defined). When considering debt covenants, we continue to have substantial borrowing capacity.

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Contractual Obligations

The following table summarizes our known obligations to make future payments pursuant to certain contracts as of December 31, 2017, and the estimated timing thereof.

(Dollars in millions)	Total		Less than 1 year		1-3 years		3-5 years		After 5 years
Long-term debt (including current portion)		$11,130		$1,285		$2,362		$1,266		$6,217
Interest on debt	5,635		478		831		672		3,654
Pension and other postretirement cash requirements	6,190		609		1,245		1,246		3,090
Capital lease obligations	147		55		61		16		15
Operating lease obligations	1,367		220		365		212		570
Purchase obligations not recorded on the Consolidated Statements of Financial Position	115,064		48,375		31,369		23,223		12,097
Purchase obligations recorded on the Consolidated Statements of Financial Position	18,630		18,289		325		2		14
Total contractual obligations (1)		$158,163		$69,311		$36,558		$26,637		$25,657

⁽¹⁾  Excludes income tax matters. As of December 31, 2017, our net liability for income taxes payable, including uncertain tax positions of $1,736 million, was $1,634 million. For further discussion of income taxes, see Note 4 to our Consolidated Financial Statements. We are not able to reasonably estimate the timing of future cash flows related to uncertain tax positions.

Pension and Other Postretirement Benefits Pension cash requirements are based on an estimate of our minimum funding requirements, pursuant to ERISA regulations, although we may make additional discretionary contributions. Estimates of other postretirement benefits are based on both our estimated future benefit payments and the estimated contributions to plans that are funded through trusts.

Purchase Obligations Purchase obligations represent contractual agreements to purchase goods or services that are legally binding; specify a fixed, minimum or range of quantities; specify a fixed, minimum, variable, or indexed price provision; and specify approximate timing of the transaction. Purchase obligations include amounts recorded as well as amounts that are not recorded on the Consolidated Statements of Financial Position.

Purchase Obligations Not Recorded on the Consolidated Statements of Financial Position Purchase obligations not recorded on the Consolidated Statements of Financial Position include agreements for inventory procurement, tooling costs, electricity and natural gas contracts, property, plant and equipment, customer financing equipment, and other miscellaneous production related obligations. The most significant obligation relates to inventory procurement contracts. We have entered into certain significant inventory procurement contracts that specify determinable prices and quantities, and long-term delivery timeframes. In addition, we purchase raw materials on behalf of our suppliers. These agreements require suppliers and vendors to be prepared to build and deliver items in sufficient time to meet our production schedules. The need for such arrangements with suppliers and vendors arises from the extended production planning horizon for many of our products. A significant portion of these inventory commitments is supported by firm contracts and/or has historically resulted in settlement through reimbursement from customers for penalty payments to the supplier should the customer not take delivery. These amounts are also included in our forecasts of costs for program and contract accounting. Some inventory procurement contracts may include escalation adjustments. In these limited cases, we have included our best estimate of the effect of the escalation adjustment in the amounts disclosed in the table above.

Purchase Obligations Recorded on the Consolidated Statements of Financial Position Purchase obligations recorded on the Consolidated Statements of Financial Position primarily include accounts payable and certain other current and long-term liabilities including accrued compensation.

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Industrial Participation Agreements We have entered into various industrial participation agreements with certain customers outside of the U.S. to facilitate economic flow back and/or technology or skills transfer to their businesses or government agencies as the result of their procurement of goods and/or services from us. These commitments may be satisfied by our local operations there, placement of direct work or vendor orders for supplies, opportunities to bid on supply contracts, transfer of technology or other forms of assistance. However, in certain cases, our commitments may be satisfied through other parties (such as our vendors) who purchase supplies from our non-U.S. customers. In certain cases, penalties could be imposed if we do not meet our industrial participation commitments. During 2017, we incurred no such penalties. As of December 31, 2017, we have outstanding industrial participation agreements totaling $17.9 billion that extend through 2030. Purchase order commitments associated with industrial participation agreements are included in purchase obligations in the table above. To be eligible for such a purchase order commitment from us, a non-U.S. supplier must have sufficient capability to meet our requirements and must be competitive in cost, quality and schedule.

Commercial Commitments

The following table summarizes our commercial commitments outstanding as of December 31, 2017.

(Dollars in millions)	Total Amounts Committed/Maximum Amount of Loss		Less than 1 year		1-3 years		4-5 years		After 5 years
Standby letters of credit and surety bonds		$3,708		$1,659		$782		$559		$708
Commercial aircraft financing commitments	10,221		2,047		4,372		2,256		1,546
Total commercial commitments		$13,929		$3,706		$5,154		$2,815		$2,254

Commercial aircraft financing commitments include commitments to provide financing related to aircraft on order, under option for deliveries or proposed as part of sales campaigns or refinancing with respect to delivered aircraft, based on estimated earliest potential funding dates. Based on historical experience, we anticipate that we will not be required to fund a significant portion of our financing commitments. However, there can be no assurances that we will not be required to fund greater amounts than historically required, particularly if the Export-Import Bank of the United States continues to be unable to, or does not, provide new financing support. See Note 11 to our Consolidated Financial Statements.

Contingent Obligations

We have significant contingent obligations that arise in the ordinary course of business, which include the following:

Legal Various legal proceedings, claims and investigations are pending against us. Legal contingencies are discussed in Note 20 to our Consolidated Financial Statements.

Environmental Remediation We are involved with various environmental remediation activities and have recorded a liability of $524 million at December 31, 2017. For additional information, see Note 11 to our Consolidated Financial Statements.

Off-Balance Sheet Arrangements

We are a party to certain off-balance sheet arrangements including certain guarantees. For discussion of these arrangements, see Note 12 to our Consolidated Financial Statements.

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Non-GAAP Measures

Core Operating Earnings, Core Operating Margin and Core Earnings Per Share

Our Consolidated Financial Statements are prepared in accordance with Generally Accepted Accounting Principles in the United States of America (GAAP) which we supplement with certain non-GAAP financial information. These non-GAAP measures should not be considered in isolation or as a substitute for the related GAAP measures, and other companies may define such measures differently. We encourage investors to review our financial statements and publicly-filed reports in their entirety and not to rely on any single financial measure. Core operating earnings, core operating margin and core earnings per share exclude the impact of certain pension and other postretirement benefit expenses that are not allocated to business segments. Pension costs, comprising service and prior service costs computed in accordance with GAAP are allocated to BCA and certain BGS businesses supporting commercial customers. Pension costs allocated to BDS and BGS businesses supporting government customers are computed in accordance with U.S. Government Cost Accounting Standards (CAS), which employ different actuarial assumptions and accounting conventions than GAAP. CAS costs are allocable to government contracts. Other postretirement benefit costs are allocated to all business segments based on CAS, which is generally based on benefits paid. The unallocated pension costs recognized in earnings during 2017 was a benefit of $1,120 million compared with a benefit of $217 million in 2016 and an expense of $421 million in 2015. The higher 2017 benefit reflects the amortization of pension benefits capitalized as inventory in prior years. The 2016 benefit reflects the difference between the higher segment allocation compared to the U.S. GAAP net periodic pension costs recognized in earnings in the current period, as well as lower settlements and curtailments. For further discussion of pension and other postretirement costs see the Management’s Discussion and Analysis on pages 20 and 21 of this Form 10-K and see Note 21 to our Consolidated Financial Statements. Management uses core operating earnings, core operating margin and core earnings per share for purposes of evaluating and forecasting underlying business performance. Management believes these core earnings measures provide investors additional insights into operational performance as unallocated pension and other postretirement benefit cost primarily represent costs driven by market factors and costs not allocable to U.S. government contracts.

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Reconciliation of GAAP Measures to Non-GAAP Measures

The table below reconciles the non-GAAP financial measures of core operating earnings, core operating margin and core earnings per share with the most directly comparable GAAP financial measures of earnings from operations, operating margins and diluted earnings per share.

(Dollars in millions, except per share data)
Years ended December 31,	2017			2016			2015
Revenues		$93,392			$94,571			$96,114
Earnings from operations, as reported		$10,278			$5,834			$7,443
Operating margins	11.0		%	6.2		%	7.7		%
Unallocated pension (income)/expense		($1,120	)		($217	)		$421
Unallocated other postretirement benefit income		($188	)		($153	)		($123	)
Unallocated pension and other postretirement benefit (income)/expense		($1,308	)		($370	)		$298
Core operating earnings (non-GAAP)		$8,970			$5,464			$7,741
Core operating margins (non-GAAP)	9.6		%	5.8		%	8.1		%
Diluted earnings per share, as reported		$13.43			$7.61			$7.44
Unallocated pension (income)/expense		($1.83	)		($0.33	)		$0.61
Unallocated other postretirement benefit income		($0.31	)		($0.24	)		($0.18	)
Provision for deferred income taxes on adjustments (1)		$0.75			$0.20			($0.15	)
Core earnings per share (non-GAAP)		$12.04			$7.24			$7.72
Weighted average diluted shares (in millions)	610.7			643.8			696.1

⁽¹⁾ The income tax impact is calculated using the tax rate in effect for the non-GAAP adjustments.

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Critical Accounting Policies

Contract Accounting

Contract accounting is used to determine revenue, cost of sales, and profit predominantly by BDS and for defense contracts at BGS. Contract accounting involves a judgmental process of estimating the total sales and costs for each contract, which results in the development of estimated cost of sales percentages. For each contract, the amount reported as cost of sales is determined by applying the estimated cost of sales percentage to the amount of revenue recognized.

Due to the size, duration and nature of many of our contracts, the estimation of total sales and costs through completion is complicated and subject to many variables. Total contract sales estimates are based on negotiated contract prices and quantities, modified by our assumptions regarding contract options, change orders, incentive and award provisions associated with technical performance, and price adjustment clauses (such as inflation or index-based clauses). The majority of these contracts are with the U.S. government where the price is generally based on estimated cost to produce the product or service plus profit. Federal Acquisition Regulations provide guidance on the types of cost that will be reimbursed in establishing contract price. Total contract cost estimates are largely based on negotiated or estimated purchase contract terms, historical performance trends, business base and other economic projections. Factors that influence these estimates include inflationary trends, technical and schedule risk, internal and subcontractor performance trends, business volume assumptions, asset utilization, and anticipated labor agreements.

Revenue and cost estimates for all significant contracts are reviewed and reassessed quarterly. Changes in these estimates could result in recognition of cumulative catch-up adjustments to the contract’s inception to date revenues, cost of sales and profit, in the period in which such changes are made. Changes in revenue and cost estimates could also result in a reach-forward loss or an adjustment to a reach-forward loss, which would be recorded immediately in earnings. For the year ended December 31, 2017 net favorable cumulative catch-up adjustments, including reach-forward losses, across all contracts increased Earnings from operations by $14 million. For the years ended December 31, 2016 and 2015, net unfavorable cumulative catch-up adjustments, including reach-forward losses, across all contracts decreased Earnings from operations by $912 million and $224 million.

Due to the significance of judgment in the estimation process described above, it is likely that materially different cost of sales amounts could be recorded if we used different assumptions or if the underlying circumstances were to change. Changes in underlying assumptions/estimates, supplier performance, or circumstances may adversely or positively affect financial performance in future periods. If the combined gross margin for all contracts in BDS and defense contracts at BGS for all of 2017 had been estimated to be higher or lower by 1%, it would have increased or decreased pre-tax income for the year by approximately $280 million. In addition, a number of our fixed price development contracts are in a reach-forward loss position. Changes to estimated losses are recorded immediately in earnings.

Program Accounting

Program accounting requires the demonstrated ability to reliably estimate the relationship of sales to costs for the defined program accounting quantity. A program consists of the estimated number of units (accounting quantity) of a product to be produced in a continuing, long-term production effort for delivery under existing and anticipated contracts. The determination of the accounting quantity is limited by the ability to make reasonably dependable estimates of the revenue and cost of existing and anticipated contracts. For each program, the amount reported as cost of sales is determined by applying the estimated cost of sales percentage for the total remaining program to the amount of sales recognized for airplanes delivered and accepted by the customer.

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Factors that must be estimated include program accounting quantity, sales price, labor and employee benefit costs, material costs, procured part costs, major component costs, overhead costs, program tooling and other non-recurring costs, and warranty costs. Estimation of the accounting quantity for each program takes into account several factors that are indicative of the demand for the particular program, such as firm orders, letters of intent from prospective customers, and market studies. Total estimated program sales are determined by estimating the model mix and sales price for all unsold units within the accounting quantity, added together with the sales prices for all undelivered units under contract. The sales prices for all undelivered units within the accounting quantity include an escalation adjustment for inflation that is updated quarterly. Cost estimates are based largely on negotiated and anticipated contracts with suppliers, historical performance trends, and business base and other economic projections. Factors that influence these estimates include production rates, internal and subcontractor performance trends, customer and/or supplier claims or assertions, asset utilization, anticipated labor agreements, and inflationary or deflationary trends.

To ensure reliability in our estimates, we employ a rigorous estimating process that is reviewed and updated on a quarterly basis. Changes in estimates are normally recognized on a prospective basis; when estimated costs to complete a program exceed estimated revenues from undelivered units in the accounting quantity, a loss provision is recorded in the current period for the estimated loss on all undelivered units in the accounting quantity. For example, in 2016 and 2015, we recorded reach-forward losses of $1,258 million and $885 million on the 747 program. We continue to evaluate the viability of the 747 program and it is reasonably possible that we could decide to end production of the 747.

The program method of accounting allocates tooling and other non-recurring and production costs over the accounting quantity for each program. Because of the higher unit production costs experienced at the beginning of a new program and substantial investment required for initial tooling and other non-recurring costs, new commercial aircraft programs, such as the 787 and 777X programs, typically have lower initial margins than established programs. In addition, actual costs incurred for earlier units in excess of the estimated average cost of all units in the program accounting quantity are included within program inventory as deferred production costs. Deferred production, unamortized tooling and other non-recurring costs are expected to be fully recovered when all units in the accounting quantity are delivered as the expected unit cost for later deliveries is below the estimated average cost as learning curve and other improvements are realized.

Due to the significance of judgment in the estimation process described above, it is reasonably possible that changes in underlying circumstances or assumptions could have a material effect on program gross margins. If the combined gross margin percentages for our commercial airplane programs had been estimated to be 1% higher or lower it would have a similar effect on the Commercial Airplane segment’s operating margins. For the year ended December 31, 2017, a 1% increase or decrease in operating margins for our Commercial Airplane segment would have a $567 million impact on operating earnings.

Goodwill and Indefinite-Lived Intangible Impairments

We test goodwill for impairment by performing a qualitative assessment or using a two-step impairment process. If we choose to perform a qualitative assessment, we evaluate economic, industry and company-specific factors as an initial step in assessing the fair value of operations. If we determine it is more likely than not that the carrying value of the net assets is more than the fair value of the related operations, the two-step impairment process is then performed; otherwise, no further testing is required. For operations where the two-step impairment process is used, we first compare the book value of net assets to the fair value of the related operations. If the fair value is determined to be less than book value, a second step is performed to compute the amount of the impairment. In this process, a fair value for goodwill is estimated, based in part on the fair value of the operations, and is compared to its carrying value. The shortfall of the fair value below carrying value represents the amount of goodwill impairment.

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We estimate the fair values of the related operations using discounted cash flows. Forecasts of future cash flows are based on our best estimate of future sales and operating costs, based primarily on existing firm orders, expected future orders, contracts with suppliers, labor agreements and general market conditions. Changes in these forecasts could significantly change the amount of impairment recorded, if any.

The cash flow forecasts are adjusted by an appropriate discount rate derived from our market capitalization plus a suitable control premium at the date of evaluation. Therefore, changes in the stock price may also affect the amount of impairment recorded, if any.

We completed our assessment of goodwill as of April 1, 2017 and determined that there is no impairment of goodwill. As a result of the change in our reportable segments, as described in Note 21, we reallocated goodwill to our new reporting units using a relative fair value approach. We evaluated goodwill for impairment at July 1, 2017 and determined that no impairment existed. As of December 31, 2017, we estimated that the fair value of each reporting unit significantly exceeded its corresponding carrying value. Changes in our forecasts, or decreases in the value of our common stock could cause book values of certain operations to exceed their fair values which may result in goodwill impairment charges in future periods.

As of December 31, 2017 and 2016, we had $490 million of indefinite-lived intangible assets related to the Jeppesen and Aviall brand and trade names acquired in business combinations. We test these intangibles for impairment by comparing their carrying value to current projections of discounted cash flows attributable to the brand and trade names. Any excess carrying value over the amount of discounted cash flows represents the amount of the impairment. A 10% decrease in the discounted cash flows would not impact the carrying value of these indefinite-lived intangible assets.

Pension Plans

The majority of our employees have earned benefits under defined benefit pension plans. Nonunion and the majority of union employees that had participated in defined benefit pension plans transitioned to a company-funded defined contribution retirement savings plan in 2016. Accounting rules require an annual measurement of our projected obligation and plan assets. These measurements are based upon several assumptions, including the discount rate and the expected long-term rate of asset return. Future changes in assumptions or differences between actual and expected outcomes can significantly affect our future annual expense, projected benefit obligation and Shareholders’ equity.

The following table shows the sensitivity of our pension plan liability and net periodic cost to a 25 basis point change in the discount rate as of December 31, 2017.

(Dollars in millions)	Change in discount rate Increase 25 bps			Change in discount rate Decrease 25 bps
Pension plans
Projected benefit obligation		($2,364	)		$2,961
Net periodic pension cost	(84		)	99

Pension expense is also sensitive to changes in the expected long-term rate of asset return. A decrease or increase of 25 basis points in the expected long-term rate of asset return would have increased or decreased 2017 net periodic pension expense by $148 million. We expect 2018 net periodic pension cost to decrease by approximately $44 million and the portion recognized in earnings before income taxes to decrease by approximately $512 million primarily due to lower amortization of actuarial losses.

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Item 7A. Quantitative and Qualitative Disclosures About Market Risk

Interest Rate Risk

We have financial instruments that are subject to interest rate risk, principally fixed-rate debt obligations, and customer financing assets and liabilities. Additionally, BCC uses interest rate swaps with certain debt obligations to manage exposure to interest rate changes. Historically, we have not experienced material gains or losses on our customer financing assets and liabilities due to interest rate changes. As of December 31, 2017, the impact over the next 12 months of a 100 basis point rise in interest rates to our pre-tax earnings would not be significant. The investors in our fixed-rate debt obligations do not generally have the right to demand we pay off these obligations prior to maturity. Therefore, exposure to interest rate risk is not believed to be material for our fixed-rate debt.

Foreign Currency Exchange Rate Risk

We are subject to foreign currency exchange rate risk relating to receipts from customers and payments to suppliers in foreign currencies. We use foreign currency forward contracts to hedge the price risk associated with firmly committed and forecasted foreign denominated payments and receipts related to our ongoing business. Foreign currency forward contracts are sensitive to changes in foreign currency exchange rates. At December 31, 2017, a 10% increase or decrease in the exchange rate in our portfolio of foreign currency contracts would have increased or decreased our unrealized losses by $289 million. Consistent with the use of these contracts to neutralize the effect of exchange rate fluctuations, such unrealized losses or gains would be offset by corresponding gains or losses, respectively, in the remeasurement of the underlying transactions being hedged. When taken together, these forward currency contracts and the offsetting underlying commitments do not create material market risk.

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Item 8. Financial Statements and Supplementary Data

Index to the Consolidated Financial Statements

	Page
Consolidated Statements of Operations	46
Consolidated Statements of Comprehensive Income	47
Consolidated Statements of Financial Position	48
Consolidated Statements of Cash Flows	49
Consolidated Statements of Equity	50
Summary of Business Segment Data	51
Note 1 – Summary of Significant Accounting Policies	52
Note 2 - Goodwill and Acquired Intangibles	65
Note 3 - Earnings Per Share	66
Note 4 - Income Taxes	67
Note 5 - Accounts Receivable	70
Note 6 - Inventories	71
Note 7 - Customer Financing	72
Note 8 - Property, Plant and Equipment	74
Note 9 - Investments	75
Note 10 - Other Assets	75
Note 11 - Liabilities, Commitments and Contingencies	76
Note 12 - Arrangements with Off-Balance Sheet Risk	80
Note 13 - Debt	81
Note 14 - Postretirement Plans	83
Note 15 - Share-Based Compensation and Other Compensation Arrangements	91
Note 16 - Shareholders’ Equity	95
Note 17 - Derivative Financial Instruments	96
Note 18 - Significant Group Concentrations of Risk	98
Note 19 - Fair Value Measurements	98
Note 20 - Legal Proceedings	101
Note 21 - Segment Information	101
Note 22 - Quarterly Financial Data	105
Reports of Independent Registered Public Accounting Firm	106

45

The Boeing Company and Subsidiaries

Consolidated Statements of Operations

(Dollars in millions, except per share data)
Years ended December 31,	2017			2016			2015
Sales of products		$83,204			$84,399			$85,255
Sales of services	10,188			10,172			10,859
Total revenues	93,392			94,571			96,114
Cost of products	(68,365		)	(72,713		)	(73,446		)
Cost of services	(7,631		)	(8,018		)	(8,578		)
Boeing Capital interest expense	(70		)	(59		)	(64		)
Total costs and expenses	(76,066		)	(80,790		)	(82,088		)
	17,326			13,781			14,026
Income from operating investments, net	204			303			274
General and administrative expense	(4,094		)	(3,616		)	(3,525		)
Research and development expense, net	(3,179		)	(4,627		)	(3,331		)
Gain/(loss) on dispositions, net	21			(7		)	(1		)
Earnings from operations	10,278			5,834			7,443
Other income/(loss), net	129			40			(13		)
Interest and debt expense	(360		)	(306		)	(275		)
Earnings before income taxes	10,047			5,568			7,155
Income tax expense	(1,850		)	(673		)	(1,979		)
Net earnings		$8,197			$4,895			$5,176
Basic earnings per share		$13.60			$7.70			$7.52
Diluted earnings per share		$13.43			$7.61			$7.44

See Notes to the Consolidated Financial Statements on pages 55 – 106.

46

The Boeing Company and Subsidiaries

Consolidated Statements of Comprehensive Income

(Dollars in millions)
Years ended December 31,	2017			2016			2015
Net earnings		$8,197			$4,895			$5,176
Other comprehensive income/(loss), net of tax:
Currency translation adjustments	128			(104		)	(92		)
Unrealized gain/(loss) on certain investments, net of tax of ($1), $1 and ($5)	1			(2		)	8
Unrealized gain/(loss) on derivative instruments:
Unrealized gain/(loss) arising during period, net of tax of ($66), $4 and $77	119			(8		)	(140		)
Reclassification adjustment for loss included in net earnings, net of tax of ($28), ($43) and ($43)	52			78			79
Total unrealized gain/(loss) on derivative instruments, net of tax	171			70			(61		)
Defined benefit pension plans & other postretirement benefits:
Net actuarial loss arising during the period, net of tax of $248, $752 and $402	(495		)	(1,365		)	(732		)
Amortization of actuarial losses included in net periodic pension cost, net of tax of ($272), ($288) and ($570)	542			524			1,038
Settlements and curtailments included in net income, net of tax of $0, ($7) and ($27)				14			51
Pension and postretirement (cost)/benefit related to our equity method investments, net of tax $5, ($7) and ($2)	(11		)	12			3
Amortization of prior service (credits)/cost included in net periodic pension cost, net of tax of $59, $31 and ($22)	(117		)	(57		)	38
Prior service cost arising during the period, net of tax of ($14), ($18) and ($496)	28			33			902
Total defined benefit pension plans & other postretirement benefits, net of tax	(53		)	(839		)	1,300
Other comprehensive income/(loss), net of tax	247			(875		)	1,155
Comprehensive loss related to noncontrolling interests	(2		)	(1		)	(3		)
Comprehensive income, net of tax		$8,442			$4,019			$6,328

See Notes to the Consolidated Financial Statements on pages 55–106.

47

The Boeing Company and Subsidiaries

Consolidated Statements of Financial Position

(Dollars in millions, except per share data)
December 31,	2017			2016
Assets
Cash and cash equivalents		$8,813			$8,801
Short-term and other investments	1,179			1,228
Accounts receivable, net	10,516			8,832
Current portion of customer financing, net	309			428
Inventories, net of advances and progress billings	44,344			43,199
Total current assets	65,161			62,488
Customer financing, net	2,740			3,773
Property, plant and equipment, net	12,672			12,807
Goodwill	5,559			5,324
Acquired intangible assets, net	2,573			2,540
Deferred income taxes	341			332
Investments	1,260			1,317
Other assets, net of accumulated amortization of $482 and $497	2,027			1,416
Total assets		$92,333			$89,997
Liabilities and equity
Accounts payable		$12,202			$11,190
Accrued liabilities	15,292			14,691
Advances and billings in excess of related costs	27,440			23,869
Short-term debt and current portion of long-term debt	1,335			384
Total current liabilities	56,269			50,134
Deferred income taxes	1,839			1,338
Accrued retiree health care	5,545			5,916
Accrued pension plan liability, net	16,471			19,943
Other long-term liabilities	2,015			2,221
Long-term debt	9,782			9,568
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	6,804			4,762
Treasury stock, at cost	(43,454		)	(36,097		)
Retained earnings	45,320			40,714
Accumulated other comprehensive loss	(13,376		)	(13,623		)
Total shareholders’ equity	355			817
Noncontrolling interests	57			60
Total equity	412			877
Total liabilities and equity		$92,333			$89,997

See Notes to the Consolidated Financial Statements on pages 55 – 106.

48

The Boeing Company and Subsidiaries

Consolidated Statements of Cash Flows

(Dollars in millions)
Years ended December 31,	2017			2016			2015
Cash flows – operating activities:
Net earnings		$8,197			$4,895			$5,176
Adjustments to reconcile net earnings to net cash provided by operating activities:
Non-cash items –
Share-based plans expense	202			190			189
Depreciation and amortization	2,069			1,910			1,833
Investment/asset impairment charges, net	113			90			167
Customer financing valuation cost/(benefit)	2			(7		)	(5		)
(Gain)/Loss on dispositions, net	(21		)	7			1
Other charges and credits, net	287			369			364
Excess tax benefits from share-based payment arrangements							(157		)
Changes in assets and liabilities –
Accounts receivable	(1,821		)	112			(1,069		)
Inventories, net of advances and progress billings	(1,085		)	3,755			(1,110		)
Accounts payable	130			622			(238		)
Accrued liabilities	573			726			2
Advances and billings in excess of related costs	3,570			(493		)	1,192
Income taxes receivable, payable and deferred	857			(810		)	477
Other long-term liabilities	94			(68		)	46
Pension and other postretirement plans	(582		)	153			2,470
Customer financing, net	1,017			(696		)	167
Other	(258		)	(256		)	(142		)
Net cash provided by operating activities	13,344			10,499			9,363
Cash flows – investing activities:
Property, plant and equipment additions	(1,739		)	(2,613		)	(2,450		)
Property, plant and equipment reductions	92			38			42
Acquisitions, net of cash acquired	(324		)	(297		)	(31		)
Contributions to investments	(3,601		)	(1,719		)	(2,036		)
Proceeds from investments	3,639			1,209			2,590
Purchase of distribution rights	(131		)
Other	2			2			39
Net cash used by investing activities	(2,062		)	(3,380		)	(1,846		)
Cash flows – financing activities:
New borrowings	2,077			1,325			1,746
Debt repayments	(953		)	(1,359		)	(885		)
Repayments of distribution rights and other asset financing				(24		)
Stock options exercised	311			321			399
Excess tax benefits from share-based payment arrangements							157
Employee taxes on certain share-based payment arrangements	(132		)	(93		)	(96		)
Common shares repurchased	(9,236		)	(7,001		)	(6,751		)
Dividends paid	(3,417		)	(2,756		)	(2,490		)
Net cash used by financing activities	(11,350		)	(9,587		)	(7,920		)
Effect of exchange rate changes on cash and cash equivalents	80			(33		)	(28		)
Net decrease in cash and cash equivalents	12			(2,501		)	(431		)
Cash and cash equivalents at beginning of year	8,801			11,302			11,733
Cash and cash equivalents at end of year		$8,813			$8,801			$11,302

See Notes to the Consolidated Financial Statements on pages 55 – 106.

49

The Boeing Company and Subsidiaries

Consolidated Statements of Equity

	Boeing shareholders
(Dollars in millions, except per share data)	Common Stock		Additional Paid-In Capital			Treasury Stock			Retained Earnings			Accumulated Other Comprehensive Loss			Non- controlling Interest			Total
Balance at January 1, 2015	$5,061			$4,625			($23,298	)		$36,180			($13,903	)		$125			$8,790
Net earnings									5,176						(3		)	5,173
Other comprehensive income, net of tax of ($686)												1,155						1,155
Share-based compensation and related dividend equivalents			214						(25		)							189
Excess tax pools			158															158
Treasury shares issued for stock options exercised, net			(29		)	428												399
Treasury shares issued for other share-based plans, net			(134		)	53												(81		)
Common shares repurchased						(6,751		)										(6,751		)
Cash dividends declared ($3.82 per share)									(2,575		)							(2,575		)
Changes in noncontrolling interests															(60		)	(60		)
Balance at December 31, 2015		$5,061	$4,834			($29,568)				$38,756			($12,748	)		$62			$6,397
Net earnings									4,895						(1		)	4,894
Other comprehensive loss, net of tax of $425												(875		)				(875		)
Share-based compensation and related dividend equivalents			244						(35		)							209
Excess tax pools			(84		)													(84		)
Treasury shares issued for stock options exercised, net			(63		)	383												320
Treasury shares issued for other share-based plans, net			(169		)	89												(80		)
Common shares repurchased						(7,001		)										(7,001		)
Cash dividends declared ($4.69 per share)									(2,902		)							(2,902		)
Changes in noncontrolling interests															(1		)	(1		)
Balance at December 31, 2016		$5,061		$4,762		($36,097)				$40,714			($13,623	)		$60			$877
Net earnings									8,197						(2		)	8,195
Other comprehensive income, net of tax of ($69)												247						247
Share-based compensation and related dividend equivalents			238						(35		)							203
Treasury shares issued for stock options exercised, net			(88		)	399												311
Treasury shares issued for other share-based plans, net			(190		)	62												(128		)
Treasury shares contributed to pension plans			2,082			1,418												3,500
Common shares repurchased						(9,236		)										(9,236		)
Cash dividends declared ($5.97 per share)									(3,556		)							(3,556		)
Changes in noncontrolling interests															(1		)	(1		)
Balance at December 31, 2017		$5,061		$6,804			($43,454	)		$45,320			($13,376	)		$57			$412

See Notes to the Consolidated Financial Statements on pages 55 – 106.

50

The Boeing Company and Subsidiaries

Notes to the Consolidated Financial Statements

Summary of Business Segment Data

(Dollars in millions)
Years ended December 31,	2017			2016			2015
Revenues:
Commercial Airplanes		$56,729			$58,012			$59,399
Defense, Space & Security	21,057			22,563			23,708
Global Services	14,639			13,925			13,293
Boeing Capital	307			298			413
Unallocated items, eliminations and other	660			(227		)	(699		)
Total revenues		$93,392			$94,571			$96,114
Earnings from operations:
Commercial Airplanes		$5,432			$1,995			$4,284
Defense, Space & Security	2,223			1,966			2,312
Global Services	2,256			2,177			1,835
Boeing Capital	114			59			50
Segment operating profit	10,025			6,197			8,481
Unallocated items, eliminations and other	253			(363		)	(1,038		)
Earnings from operations	10,278			5,834			7,443
Other income/(loss), net	129			40			(13		)
Interest and debt expense	(360		)	(306		)	(275		)
Earnings before income taxes	10,047			5,568			7,155
Income tax expense	(1,850		)	(673		)	(1,979		)
Net earnings		$8,197			$4,895			$5,176

This information is an integral part of the Notes to the Consolidated Financial Statements. See Note 21 for further segment results.

51

The Boeing Company and Subsidiaries

Notes to the Consolidated Financial Statements

Years ended December 31, 2017, 2016 and 2015

(Dollars in millions, except per share data)

Note 1 – Summary of Significant Accounting Policies

Principles of Consolidation and Basis of Presentation

The Consolidated 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”). These statements include the accounts of all majority-owned subsidiaries and variable interest entities that are required to be consolidated. All significant intercompany accounts and transactions have been eliminated. As described in Note 21, effective July 1, 2017, we now operate in four reportable segments: Commercial Airplanes (BCA); Defense, Space & Security (BDS), Global Services (BGS), and Boeing Capital (BCC). Amounts in prior periods have been reclassified to conform to the current year presentation.

Use of Estimates

Management makes assumptions and estimates to prepare financial statements in conformity with accounting principles generally accepted in the United States of America. Those assumptions and estimates directly affect the amounts reported in the Consolidated Financial Statements. Significant estimates for which changes in the near term are considered reasonably possible and that may have a material impact on the financial statements are disclosed in these Notes to the Consolidated Financial Statements.

Operating Cycle

For classification of certain current assets and liabilities, we use the duration of the related contract or program as our operating cycle, which is generally longer than one year.

Revenue and Related Cost Recognition

Contract Accounting Contract accounting is used for development and production activities predominantly by BDS and for defense contracts at BGS. The majority of these activities are performed under contracts with the U.S. government and other customers that extend over several years. Contract accounting involves a judgmental process of estimating total sales and costs for each contract resulting in the development of estimated cost of sales percentages. For each contract, the amount reported as cost of sales is determined by applying the estimated cost of sales percentage to the amount of revenue recognized. When the current estimates of total sales and costs for a contract indicate a loss, a provision for the entire loss on the contract is recognized.

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 contract’s percent complete. Net cumulative catch-up adjustments to prior years’ earnings, including reach-forward losses, across all contracts were as follows:

	2017		2016			2015
Increase/(decrease) to Earnings from Operations		$14		($912	)		($224	)
Increase/(decrease) to Diluted EPS		$0.02		($1.25	)		($0.23	)

Significant adjustments during the three years ended December 31, 2017 included reach-forward losses of $471, $1,128 and $835 on the USAF KC-46A Tanker contract recorded during 2017, 2016 and 2015.

52

We combine contracts for accounting purposes when they are negotiated as a package with an overall profit margin objective. These essentially represent an agreement to do a single project for a single customer, involve interrelated construction activities with substantial common costs, and are performed concurrently or sequentially. When a group of contracts is combined, revenue and profit are earned uniformly over the performance of the combined contracts. Similarly, we may segment a single contract or group of contracts when a clear economic decision has been made during contract negotiations that would produce different rates of profitability for each element or phase of the contract.

Sales related to fixed-price contracts are recognized as deliveries are made, except for certain fixed-price contracts that require substantial performance over an extended period before deliveries begin, for which sales are recorded based on the attainment of performance milestones. Sales related to contracts in which we are reimbursed for costs incurred plus an agreed upon profit are recorded as costs are incurred. The Federal Acquisition Regulations provide guidance on the types of cost that will be reimbursed in establishing contract price. Contracts may contain provisions to earn incentive and award fees if specified targets are achieved. Incentive and award fees that can be reasonably estimated and are probable are recorded over the performance period of the contract. Incentive and award fees that cannot be reasonably estimated are recorded when awarded.

Program Accounting Our Commercial Airplanes segment uses program accounting to account for cost of sales related to its programs. Program accounting is applicable to products manufactured for delivery under production-type contracts where profitability is realized over multiple contracts and years. Under program accounting, inventoriable production costs, program tooling and other non-recurring costs, and warranty costs are accumulated and charged to cost of sales by program instead of by individual units or contracts. A program consists of the estimated number of units (accounting quantity) of a product to be produced in a continuing, long-term production effort for delivery under existing and anticipated contracts. The determination of the accounting quantity is limited by the ability to make reasonably dependable estimates of the revenue and cost of existing and anticipated contracts. To establish the relationship of sales to cost of sales, program accounting requires estimates of (a) the number of units to be produced and sold in a program, (b) the period over which the units can reasonably be expected to be produced, and (c) the units’ expected sales prices, production costs, program tooling and other non-recurring costs, and routine warranty costs for the total program.

We recognize sales for commercial airplane deliveries as each unit is completed and accepted by the customer. Sales recognized represent the price negotiated with the customer, adjusted by an escalation formula as specified in the customer agreement. The amount reported as cost of sales is determined by applying the estimated cost of sales percentage for the total remaining program to the amount of sales recognized for airplanes delivered and accepted by the customer. Changes in estimated revenues, cost of sales and the related effects on program margins are recognized prospectively except in cases where the program is determined to have a reach-forward loss in which case the loss is recognized in the current period. Reductions to a reach-forward loss are spread over all undelivered units in the accounting quantity, whereas increases to the estimated loss are recorded immediately. See Note 11.

Concession Sharing Arrangements We account for sales concessions to our customers in consideration of their purchase of products and services as a reduction to revenue when the related products and services are delivered. The sales concessions incurred may be partially reimbursed by certain suppliers in accordance with concession sharing arrangements. We record these reimbursements, which are presumed to represent reductions in the price of the vendor’s products or services, as a reduction in Cost of products.

Spare Parts Revenue We recognize sales of spare parts upon delivery and the amount reported as cost of sales is recorded at average cost.

Service Revenue Service revenue is recognized when the service is performed with the exception of U.S. government service agreements, which are accounted for using contract accounting. Service activities

53

primarily include: support agreements associated with military aircraft and helicopter contracts, space travel on Commercial Crew, ongoing maintenance of International Space Station, military and commercial aircraft training contracts, fleet care, and technical and flight operation services for commercial aircraft. Service revenue and associated cost of sales from pay-in-advance subscription fees are deferred and recognized as services are rendered.

Financial Services Revenue We record financial services revenue associated with sales-type/finance leases, operating leases, and notes receivable.

Lease and financing revenue arrangements are included in Sales of services on the Consolidated Statements of Operations. For sales-type/finance leases, we record an asset at lease inception. This asset is recorded at the aggregate of future minimum lease payments, estimated residual value of the leased equipment, and deferred incremental direct costs less unearned income. Income is recognized over the life of the lease to approximate a level rate of return on the net investment. Residual values, which are reviewed periodically, represent the estimated amount we expect to receive at lease termination from the disposition of the leased equipment. Actual residual values realized could differ from these estimates. Declines in estimated residual value that are deemed other-than-temporary are recognized in the period in which the declines occur.

For operating leases, revenue on leased aircraft and equipment is recorded on a straight-line basis over the term of the lease. Operating lease assets, included in Customer financing, are recorded at cost and depreciated over the period that we project we will hold the asset to an estimated residual value, using the straight-line method. We periodically review our estimates of residual value and recognize forecasted changes by prospectively adjusting depreciation expense.

For notes receivable, notes are recorded net of any unamortized discounts and deferred incremental direct costs. Interest income and amortization of any discounts are recorded ratably over the related term of the note.

Reinsurance Revenue Our wholly-owned insurance subsidiary, Astro Ltd., participates in a reinsurance pool for workers’ compensation. The member agreements and practices of the reinsurance pool minimize any participating members’ individual risk. Reinsurance revenues were $141, $147 and $136 during 2017, 2016 and 2015, respectively. Reinsurance costs related to premiums and claims paid to the reinsurance pool were $144, $139 and $132 during 2017, 2016 and 2015, respectively. Revenues and costs are presented net in Cost of sales in the Consolidated Statements of Operations.

Fleet Support

We provide assistance and support to facilitate efficient and safe aircraft operation to the operators of all our commercial airplane models. Collectively known as fleet support, these activities and support services include flight and maintenance training, field service support, engineering support, and technical data and documents. Fleet support activity begins prior to aircraft delivery as the customer receives training, manuals, and technical consulting support. This activity continues throughout the aircraft’s operational life. Services provided after delivery include field service support, consulting on maintenance, repair, and operational issues brought forth by the customer or regulators, updating manuals and engineering data, and the issuance of service bulletins that impact the entire model’s fleet. Field service support involves our personnel located at customer facilities providing and coordinating fleet support activities and requests. The costs for fleet support are expensed as incurred as Cost of services.

Research and Development

Research and development includes costs incurred for experimentation, design, and testing, as well as bid and proposal efforts related to government products and services which are expensed as incurred

54

unless the costs are related to certain contractual arrangements with customers. Costs that are incurred pursuant to such contractual arrangements are recorded over the period that revenue is recognized, consistent with our contract accounting policy. We have certain research and development arrangements that meet the requirement for best efforts research and development accounting. Accordingly, the amounts funded by the customer are recognized as an offset to our research and development expense rather than as contract revenues. Research and development expense included bid and proposal costs of $288, $311 and $286 in 2017, 2016 and 2015, respectively.

Share-Based Compensation

We provide various forms of share-based compensation to our employees. For awards settled in shares, we measure compensation expense based on the grant-date fair value net of estimated forfeitures. For awards settled in cash, or that may be settled in cash, we measure compensation expense based on the fair value at each reporting date net of estimated forfeitures. The expense is recognized over the requisite service period, which is generally the vesting period of the award.

Income Taxes

Provisions for U.S. federal, state and local, and non-U.S. income taxes are calculated on reported Earnings before income taxes based on current tax law and also include, in the current period, the cumulative effect of any changes in tax rates from those used previously in determining deferred tax assets and liabilities. Such provisions differ from the amounts currently receivable or payable because certain items of income and expense are recognized in different time periods for financial reporting purposes than for income tax purposes. Significant judgment is required in determining income tax provisions and evaluating tax positions.

The accounting for uncertainty in income taxes requires a more-likely-than-not threshold for financial statement recognition and measurement of tax positions taken or expected to be taken in a tax return. We record a liability for the difference between the benefit recognized and measured for financial statement purposes and the tax position taken or expected to be taken on our tax return. To the extent that our assessment of such tax positions changes, the change in estimate is recorded in the period in which the determination is made. Tax-related interest and penalties are classified as a component of Income tax expense.

Postretirement Plans

The majority of our employees have earned benefits under defined benefit pension plans. Nonunion and the majority of union employees that had participated in defined benefit pension plans transitioned to a company-funded defined contribution retirement savings plan in 2016. We also provide postretirement benefit plans other than pensions, consisting principally of health care coverage to eligible retirees and qualifying dependents. Benefits under the pension and other postretirement benefit plans are generally based on age at retirement and years of service and, for some pension plans, benefits are also based on the employee’s annual earnings. The net periodic cost of our pension and other postretirement plans is determined using the projected unit credit method and several actuarial assumptions, the most significant of which are the discount rate, the long-term rate of asset return, and medical trend (rate of growth for medical costs). A portion of net periodic pension and other postretirement income or expense is not recognized in net earnings in the year incurred because it is allocated to production as product costs, and reflected in inventory at the end of a reporting period. Actuarial gains and losses, which occur when actual experience differs from actuarial assumptions, are reflected in Shareholders’ equity (net of taxes). If actuarial gains and losses exceed ten percent of the greater of plan assets or plan liabilities we amortize them over the average future service period of employees. The funded status of our pension and postretirement plans is reflected on the Consolidated Statements of Financial Position.

55

Postemployment Plans

We record a liability for postemployment benefits, such as severance or job training, when payment is probable, the amount is reasonably estimable, and the obligation relates to rights that have vested or accumulated.

Environmental Remediation

We are subject to federal and state requirements for protection of the environment, including those for discharge of hazardous materials and remediation of contaminated sites. We routinely assess, based on in-depth studies, expert analyses and legal reviews, our contingencies, obligations, and commitments for remediation of contaminated sites, including assessments of ranges and probabilities of recoveries from other responsible parties and/or insurance carriers. Our policy is to accrue and charge to current expense identified exposures related to environmental remediation sites when it is probable that a liability has been incurred and the amount can be reasonably estimated. The amount of the liability is based on our best estimate or the low end of a range of reasonably possible exposure for investigation, cleanup, and monitoring costs to be incurred. Estimated remediation costs are not discounted to present value as the timing of payments cannot be reasonably estimated. We may be able to recover a portion of the remediation costs from insurers or other third parties. Such recoveries are recorded when realization of the claim for recovery is deemed probable.

Cash and Cash Equivalents

Cash and cash equivalents consist of highly liquid instruments, such as commercial paper, time deposits, and other money market instruments, which have original maturities of three months or less. We aggregate our cash balances by bank where conditions for right of set-off are met, and reclassify any negative balances, consisting mainly of uncleared checks, to Accounts payable. Negative balances reclassified to Accounts payable were $116 and $77 at December 31, 2017 and 2016.

Inventories

Inventoried costs on commercial aircraft programs and long-term contracts include direct engineering, production and tooling and other non-recurring costs, and applicable overhead, which includes fringe benefits, production related indirect and plant management salaries and plant services, not in excess of estimated net realizable value. To the extent a material amount of such costs are related to an abnormal event or are fixed costs not appropriately attributable to our programs or contracts, they are expensed in the current period rather than inventoried. Inventoried costs include amounts relating to programs and contracts with long-term production cycles, a portion of which is not expected to be realized within one year. Included in inventory for federal government contracts is an allocation of allowable costs related to manufacturing process reengineering.

Commercial aircraft programs inventory includes deferred production costs and supplier advances. Deferred production costs represent actual costs incurred for production of early units that exceed the estimated average cost of all units in the program accounting quantity. Higher production costs are experienced at the beginning of a new or derivative airplane program. Units produced early in a program require substantially more effort (labor and other resources) than units produced later in a program because of volume efficiencies and the effects of learning. We expect that these deferred costs will be fully recovered when all units included in the accounting quantity are delivered as the expected unit cost for later deliveries is below the estimated average cost of all units in the program. Supplier advances represent payments for parts we have contracted to receive from suppliers in the future. As parts are received, supplier advances are amortized to work in process.

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The determination of net realizable value of long-term contract costs is based upon quarterly reviews that estimate costs to be incurred to complete all contract requirements. When actual contract costs and the estimate to complete exceed total estimated contract revenues, a loss provision is recorded. The determination of net realizable value of commercial aircraft program costs is based upon quarterly program reviews that estimate revenue and cost to be incurred to complete the program accounting quantity. When estimated costs to complete exceed estimated program revenues to go, a program loss provision is recorded in the current period for the estimated loss on all undelivered units in the accounting quantity.

Used aircraft purchased by the Commercial Airplanes segment and general stock materials are stated at cost not in excess of net realizable value. See ‘Aircraft Valuation’ within this Note for a discussion of our valuation of used aircraft. Spare parts inventory is stated at lower of average unit cost or net realizable value. We review our commercial spare parts and general stock materials quarterly to identify impaired inventory, including excess or obsolete inventory, based on historical sales trends, expected production usage, and the size and age of the aircraft fleet using the part. Impaired inventories are charged to Cost of products in the period the impairment occurs.

Included in inventory for commercial aircraft programs are amounts paid or credited in cash, or other consideration to certain airline customers, that are referred to as early issue sales consideration. Early issue sales consideration is recognized as a reduction to revenue when the delivery of the aircraft under contract occurs. If an airline customer does not perform and take delivery of the contracted aircraft, we believe that we would have the ability to recover amounts paid. However, to the extent early issue sales consideration exceeds advances and is not considered to be otherwise recoverable, it would be written off in the current period.

We net advances and progress billings on long-term contracts against inventory in the Consolidated Statements of Financial Position. Advances and progress billings in excess of related inventory are reported in Advances and billings in excess of related costs.

Precontract Costs

We may, from time to time, incur costs in excess of the amounts required for existing contracts. If we determine the costs are probable of recovery from future orders, then we capitalize the precontract costs we incur, excluding start-up costs which are expensed as incurred. Capitalized precontract costs are included in Inventories, net of advances and progress billings, in the accompanying Consolidated Statements of Financial Position. Should future orders not materialize or we determine the costs are no longer probable of recovery, the capitalized costs would be written off.

Property, Plant and Equipment

Property, plant and equipment are recorded at cost, including applicable construction-period interest, less accumulated depreciation and are depreciated principally over the following estimated useful lives: new buildings and land improvements, from 10 to 40 years; and new machinery and equipment, from 4 to 20 years. The principal methods of depreciation are as follows: buildings and land improvements, 150% declining balance; and machinery and equipment, sum-of-the-years’ digits. Capitalized internal use software is included in Other assets and amortized using the straight line method over 5 years. We periodically evaluate the appropriateness of remaining depreciable lives assigned to long-lived assets, including assets that may be subject to a management plan for disposition.

Long-lived assets held for sale are stated at the lower of cost or fair value less cost to sell. Long-lived assets held for use are subject to an impairment assessment whenever events or changes in circumstances indicate that the carrying amount may not be recoverable. If the carrying value is no longer recoverable based upon the undiscounted future cash flows of the asset, the amount of the impairment is the difference between the carrying amount and the fair value of the asset.

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Asset Retirement Obligations

We record all known asset retirement obligations for which the liability’s fair value can be reasonably estimated, including certain asbestos removal, asset decommissioning and contractual lease restoration obligations. Recorded amounts are not material.

We also have known conditional asset retirement obligations, such as certain asbestos remediation and asset decommissioning activities to be performed in the future, that are not reasonably estimable due to insufficient information about the timing and method of settlement of the obligation. Accordingly, these obligations have not been recorded in the Consolidated Financial Statements. A liability for these obligations will be recorded in the period when sufficient information regarding timing and method of settlement becomes available to make a reasonable estimate of the liability’s fair value. In addition, there may be conditional asset retirement obligations that we have not yet discovered (e.g., asbestos may exist in certain buildings but we have not become aware of it through the normal course of business), and therefore, these obligations also have not been included in the Consolidated Financial Statements.

Goodwill and Other Acquired Intangibles

Goodwill and other acquired intangible assets with indefinite lives are not amortized, but are tested for impairment annually and when an event occurs or circumstances change such that it is more likely than not that an impairment may exist. Our annual testing date is April 1.

We test goodwill for impairment by performing a qualitative assessment or using a two-step impairment process. If we choose to perform a qualitative assessment and determine it is more likely than not that the carrying value of the net assets is more than the fair value of the related operations, the two-step impairment process is then performed; otherwise, no further testing is required. For operations where the two-step impairment process is used, we first compare the carrying value of net assets to the fair value of the related operations. If the fair value is determined to be less than carrying value, a second step is performed to compute the amount of the impairment. In this process, a fair value for goodwill is estimated, based in part on the fair value of the operations, and is compared to its carrying value. The shortfall of the fair value below carrying value represents the amount of goodwill impairment.

Indefinite-lived intangibles consist of brand and trade names acquired in business combinations. We test these intangibles for impairment by comparing their carrying value to current projections of discounted cash flows attributable to the brand and trade names. Any excess carrying value over the amount of discounted cash flows represents the amount of the impairment.

Our finite-lived acquired intangible assets are amortized on a straight-line basis over their estimated useful lives as follows: developed technology, from 4 to 14 years; product know-how, from 3 to 30 years; customer base, from 3 to 17 years; distribution rights, from 3 to 27 years; and other, from 2 to 32 years. We evaluate the potential impairment of finite-lived acquired intangible assets whenever events or changes in circumstances indicate that the carrying amount may not be recoverable. If the carrying value is no longer recoverable based upon the undiscounted future cash flows of the asset, the amount of the impairment is the difference between the carrying amount and the fair value of the asset.

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Investments

Time deposits are held-to-maturity investments that are carried at cost.

Available-for-sale securities include commercial paper, U.S. government agency securities, and corporate debt securities. Available-for-sale securities are recorded at fair value, and unrealized gains and losses are recorded, net of tax, as a component of accumulated other comprehensive income. Realized gains and losses on available-for-sale securities are recognized based on the specific identification method. Available-for-sale securities are assessed for impairment quarterly.

The equity method of accounting is used to account for investments for which we have the ability to exercise significant influence, but not control, over an investee. Significant influence is generally deemed to exist if we have an ownership interest in the voting stock of an investee of between 20% and 50%.

We classify investment income and loss on our Consolidated Statements of Operations based on whether the investment is operating or non-operating in nature. Operating investments align strategically and are integrated with our operations. Earnings from operating investments, including our share of income or loss from equity method investments, dividend income from certain cost method investments, and any impairments or gain/loss on the disposition of these investments, are recorded in Income from operating investments, net. Non-operating investments are those we hold for non-strategic purposes. Earnings from non-operating investments, including interest and dividends on marketable securities, and any impairments or gain/loss on the disposition of these investments are recorded in Other income/(expense), net.

Derivatives

All derivative instruments are recognized in the financial statements and measured at fair value regardless of the purpose or intent of holding them. We use derivative instruments to principally manage a variety of market risks. For derivatives designated as hedges of the exposure to changes in fair value of the recognized asset or liability or a firm commitment (referred to as fair value hedges), the gain or loss is recognized in earnings in the period of change together with the offsetting loss or gain on the hedged item attributable to the risk being hedged. The effect of that accounting is to include in earnings the extent to which the hedge is not effective in achieving offsetting changes in fair value. For our cash flow hedges, the effective portion of the derivative’s gain or loss is initially reported in comprehensive income and is subsequently reclassified into earnings in the same period or periods during which the hedged forecasted transaction affects earnings. The ineffective portion of the gain or loss of a cash flow hedge is reported in earnings immediately. We have agreements to purchase and sell aluminum to address long-term strategic sourcing objectives and international business requirements. These agreements are derivatives for accounting purposes but are not designated for hedge accounting treatment. We also hold certain derivative instruments for economic purposes that are not designated for hedge accounting treatment. For these aluminum agreements and for other derivative instruments not designated for hedge accounting treatment, the changes in their fair value are recorded in earnings immediately.

Aircraft Valuation

Used aircraft under trade-in commitments and aircraft under repurchase commitments In conjunction with signing a definitive agreement 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. Additionally, we have entered into contingent repurchase commitments with certain customers wherein we agree to repurchase the Sale Aircraft at a specified price, generally 10 to 15 years after delivery of the Sale Aircraft. Our repurchase of the Sale Aircraft is contingent upon a future, mutually acceptable agreement for the sale of additional new aircraft. If we execute an agreement for the sale of additional new aircraft, and if the customer exercises its right to sell the Sale

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Aircraft to us, a contingent repurchase commitment would become a trade-in commitment. Our historical experience is that contingent repurchase commitments infrequently become trade-in commitments.

Exposure related to trade-in commitments may take the form of:

(1) adjustments to revenue for the difference between the contractual trade-in price in the definitive agreement and our best estimate of the fair value of the trade-in aircraft as of the date of such agreement, which would be recognized upon delivery of the Sale Aircraft, and/or

(2) charges to cost of products for adverse changes in the fair value of trade-in aircraft that occur subsequent to signing of a definitive agreement for Sale Aircraft but prior to the purchase of the used trade-in aircraft. Estimates based on current aircraft values would be included in Accrued liabilities.

The fair value of trade-in aircraft is determined using aircraft-specific data such as model, age and condition, market conditions for specific aircraft and similar models, and multiple valuation sources. This process uses our assessment of the market for each trade-in aircraft, which in most instances begins years before the return of the aircraft. There are several possible markets in which we continually pursue opportunities to place used aircraft. These markets include, but are not limited to, the resale market, which could potentially include the cost of long-term storage; the leasing market, with the potential for refurbishment costs to meet the leasing customer’s requirements; or the scrap market. Trade-in aircraft valuation varies significantly depending on which market we determine is most likely for each aircraft. On a quarterly basis, we update our valuation analysis based on the actual activities associated with placing each aircraft into a market or using current published third-party aircraft valuations based on the type and age of the aircraft, adjusted for individual attributes and known conditions.

Used aircraft acquired by the Commercial Airplanes segment are included in Inventories at the lower of cost or net realizable value as it is our intent to sell these assets. To mitigate costs and enhance marketability, aircraft may be placed on operating lease. While on operating lease, the assets are included in Customer financing.

Customer financing Customer financing includes operating lease equipment, notes receivable, and sales-type/finance leases. Sales-type/finance leases are treated as receivables, and allowances for losses are established as necessary.

We assess the fair value of the assets we own, including equipment under operating leases, assets held for sale or re-lease, and collateral underlying receivables, to determine if their fair values are less than the related assets’ carrying values. Differences between carrying values and fair values of sales-type/finance leases and notes and other receivables, as determined by collateral value, are considered in determining the allowance for losses on receivables.

We use a median calculated from published collateral values from multiple third-party aircraft value publications based on the type and age of the aircraft to determine the fair value of aircraft. Under certain circumstances, we apply judgment based on the attributes 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 outside publications.

Impairment review for assets under operating leases and held for sale or re-lease We evaluate for impairment assets under operating lease or assets held for sale or re-lease when events or changes in circumstances indicate that the expected undiscounted cash flow from the asset may be less than the carrying value. We use various assumptions when determining the expected undiscounted cash flow, including our intentions for how long we will hold an asset subject to operating lease before it is sold, the expected future lease rates, lease terms, residual value of the asset, periods in which the asset may be held in preparation for a follow-on lease, maintenance costs, remarketing costs and the remaining economic

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life of the asset. We record assets held for sale at the lower of carrying value or fair value less costs to sell.

When we determine that impairment is indicated for an asset, the amount of impairment expense recorded is the excess of the carrying value over the fair value of the asset.

Allowance for losses on customer financing receivables We record the potential impairment of customer financing receivables in a valuation account, the balance of which is an accounting estimate of probable but unconfirmed losses. The allowance for losses on receivables relates to two components of receivables: (a) receivables that are evaluated individually for impairment and (b) all other receivables.

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 of the receivable agreement, without regard to any subsequent restructurings. Factors considered in assessing collectability include, but are not limited to, a customer’s extended delinquency, requests for restructuring and filings for bankruptcy. We determine a specific impairment allowance based on the difference between the carrying value of the receivable and the estimated fair value of the related collateral we would expect to realize.

We review the adequacy of the allowance attributable to the remaining receivables (after excluding receivables subject to a specific impairment allowance) by assessing both the collateral exposure and the applicable cumulative default rate. Collateral exposure for a particular receivable is the excess of the carrying value of the receivable over the fair value of the related collateral. A receivable with an estimated fair value in excess of the carrying value is considered to have no collateral exposure. The applicable cumulative default rate is determined using two components: customer credit ratings and weighted average remaining contract term. Internally assigned credit ratings, our credit quality indicator, are determined for each customer in the portfolio. Those ratings are updated based upon public information and information obtained directly from our customers.

We have entered into agreements with certain customers that would entitle us to look beyond the specific collateral underlying the receivable for purposes of determining the collateral exposure as described above. Should the proceeds from the sale of the underlying collateral asset resulting from a default condition be insufficient to cover the carrying value of our receivable (creating a shortfall condition), these agreements would, for example, permit us to take the actions necessary to sell or retain certain other assets in which the customer has an equity interest and use the proceeds to cover the shortfall.

Each quarter we review customer credit ratings, published historical credit default rates for different rating categories, and multiple third-party aircraft value publications as a basis to validate the reasonableness of the allowance for losses on receivables. There can be no assurance that actual results will not differ from estimates or that the consideration of these factors in the future will not result in an increase or decrease to the allowance for losses on receivables.

Warranties

In conjunction with certain product sales, we provide warranties that cover factors such as non-conformance to specifications and defects in material and design. The majority of our warranties are issued by our Commercial Airplanes segment. Generally, aircraft sales are accompanied by a three to four-year standard warranty for systems, accessories, equipment, parts, and software manufactured by us or manufactured to certain standards under our authorization. These warranties are included in the programs’ estimate at completion. On occasion we have made commitments beyond the standard warranty obligation to correct fleet-wide major issues of a particular model, resulting in additional accrued warranty expense. Warranties issued by our BDS segment principally relate to sales of military aircraft and weapons hardware and are included in the contract cost estimates. These sales are generally accompanied by a six month to two-year warranty period and cover systems, accessories, equipment, parts, and software manufactured by us to certain contractual specifications. Estimated costs related to standard warranties are recorded in the

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period in which the related product sales occur. The warranty liability recorded at each balance sheet date reflects the estimated number of months of warranty coverage outstanding for products delivered times the average of historical monthly warranty payments, as well as additional amounts for certain major warranty issues that exceed a normal claims level. Estimated costs of these additional warranty issues are considered changes to the initial liability estimate.

We provide guarantees to certain commercial airplane customers which include compensation provisions for failure to meet specified aircraft performance targets. We account for these performance guarantees as warranties. The estimated liability for these warranties is based on known and anticipated operational characteristics and forecasted customer operation of the aircraft relative to contractually specified performance targets, and anticipated settlements when contractual remedies are not specified. Estimated payments are recorded as a reduction of revenue at delivery of the related aircraft. We have agreements that require certain suppliers to compensate us for amounts paid to customers for failure of supplied equipment to meet specified performance targets. Claims against suppliers under these agreements are included in Inventories and recorded as a reduction in Cost of products at delivery of the related aircraft. These performance warranties and claims against suppliers are included in the programs’ estimate at completion.

Supplier Penalties

We record an accrual for supplier penalties when an event occurs that makes it probable that a supplier penalty will be incurred and the amount is reasonably estimable. Until an event occurs, we fully anticipate accepting all products procured under production-related contracts.

Guarantees

We record a liability in Accrued liabilities for the fair value of guarantees that are issued or modified after December 31, 2002. For a residual value guarantee where we received a cash premium, the liability is equal to the cash premium received at the guarantee’s inception. For credit guarantees, the liability is equal to the present value of the expected loss. We determine the expected loss by multiplying the creditor’s default rate by the guarantee amount reduced by the expected recovery, if applicable, for each future period the credit guarantee will be outstanding. If at inception of a guarantee, we determine there is a probable related contingent loss, we will recognize a liability for the greater of (a) the fair value of the guarantee as described above or (b) the probable contingent loss amount.

Standards Issued and Not Yet Implemented

In February 2016, the Financial Accounting Standards Board issued Accounting Standards Update (ASU) No. 2016-02, Leases(Topic 842). The new standard is effective for reporting periods beginning after December 15, 2018 and early adoption is permitted. The standard will require lessees to report most leases as assets and liabilities on the balance sheet, while lessor accounting will remain substantially unchanged. The standard requires a modified retrospective transition approach for existing leases, whereby the new rules will be applied to the earliest year presented. We plan to adopt the new lease standard in 2019 and do not expect it to have a material effect on our financial position, results of operations or cash flows.

We are adopting ASU No. 2014-09, Revenue from Contracts with Customers (Topic 606) in the first quarter of 2018 using the retrospective transition method which will require 2016 and 2017 financial statements to be restated. The new standard requires revenue to be recognized when promised goods or services are transferred to customers in amounts that reflect the consideration to which the company expects to be entitled in exchange for those goods or services. The standard also requires expanded disclosures regarding revenue and contracts with customers.

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Most of our defense contracts at BDS and BGS that have historically recognized revenue as deliveries are made or based on the attainment of performance milestones will recognize revenue under the new standard over time as costs are incurred. Certain military derivative aircraft contracts included in our BCA segment will also recognize revenue as costs are incurred. The new standard will not change the total amount of revenue recognized on these contracts, only accelerate the timing of when the revenue is recognized. In addition, the timing of cost of sales recognition for these contracts will be accelerated, resulting in a decrease in Inventories from long-term contracts in progress.

The new standard will not affect revenue recognition or the use of program accounting for commercial airplane contracts. We will continue to recognize revenue for these contracts at the point in time when the customer accepts delivery of the airplane.

Because revenue will be recognized under the new standard as costs are incurred for most of our defense and military derivative airplane contracts, approximately $10,000 of revenues and $1,300 of associated operating earnings will be accelerated into years ending prior to January 1, 2016. The restatement will result in a cumulative adjustment to increase retained earnings by $900 effective January 1, 2016. Restated income statements for 2016 and 2017 are shown below.

We are also adopting ASU No. 2017-07,Compensation - Retirement Benefits (Topic 715): Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost in the first quarter of 2018. The standard requires non-service cost components of net periodic benefit cost to be presented in non-operating earnings using a retrospective transition method which will require us to restate 2016 and 2017 in the first quarter of 2018. In addition, only service costs may be allocated to production costs and capitalized in inventory on a prospective basis effective January 1, 2018. Adoption in the first quarter of 2018 is expected to result in a reclassification of non-service cost components of net periodic benefit cost of $6 in 2017 and $478 in 2016 from Earnings from Operations to Other income/(loss), net. We applied a practical expedient as the estimation basis for this reclassification. Adoption of the new pension standard will not affect previously reported financial position, earnings per share, or cash flows.

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The impact to our 2017 and 2016 operating results as a result of adopting ASC Topic 606 and ASU No. 2017-07 is presented in the tables below:

	Reported			Restated			Reported			Restated
Years ended December 31,	2017			2017			2016			2016
Revenues:
Commercial Airplanes		$56,729			$58,014			$58,012			$59,378
Defense, Space & Security	21,057			20,561			22,563			20,180
Global Services	14,639			14,581			13,925			13,819
Boeing Capital	307			307			298			298
Unallocated items, eliminations and other	660			542			(227		)	(179		)
Total revenues		$93,392			$94,005			$94,571			$93,496
Earnings from operations:
Commercial Airplanes		$5,432			$5,452			$1,995			$1,981
Defense, Space & Security	2,223			2,193			1,966			1,678
Global Services	2,256			2,246			2,177			2,159
Boeing Capital	114			114			59			59
Segment operating profit	10,025			10,005			6,197			5,877
Unallocated items, eliminations and other	253			(1,099		)	(363		)	(707		)
FAS/CAS service cost adjustment (1)				1,438						1,357
Earnings from operations	10,278			10,344			5,834			6,527
Other income/(loss), net (1)	129			123			40			(438		)
Interest and debt expense	(360		)	(360		)	(306		)	(306		)
Earnings before income taxes	10,047			10,107			5,568			5,783
Income tax expense	(1,850		)	(1,649		)	(673		)	(749		)
Net earnings		$8,197			$8,458			$4,895			$5,034
Diluted earnings per share		$13.43			$13.85			$7.61			$7.83

⁽¹⁾  The FAS/CAS service cost adjustment represents the difference between the pension and postretirement service costs calculated under Generally Accepted Accounting Principles (GAAP) and costs allocated to the business segments which are based on U.S. Government Cost Accounting Standards for our defense businesses. Restated Other income/(loss), net includes the non-service cost components of net periodic benefit cost.

In addition to the income statement changes described above, adoption of ASC Topic 606 is expected to increase total assets and total liabilities at December 31, 2017 and 2016 by approximately $20,000 and $19,000 primarily due to classifying certain advances from customers as liabilities under the new standard, whereas these advances were netted against inventory under existing GAAP. Adoption of ASU No. 2017-07 has no impact on total assets and total liabilities. The new standards have no impact on cash flows reported in 2017 and 2016. The impact of the new revenue standard on our 2017 and 2016 financial results may not be representative of the impact on our financial position and operating results in subsequent years. ASC Topic 606 requires additional detailed disclosures regarding the Company’s contracts with customers, including disclosure of remaining unsatisfied performance obligations, in the first quarter of 2018 which we are continuing to assess. We have identified and implemented changes to the Company’s business processes, systems and controls to support adoption of the new standard.

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Note 2 – Goodwill and Acquired Intangibles

Changes in the carrying amount of goodwill by reportable segment for the years ended December 31, 2017 and 2016 were as follows:

	Commercial Airplanes		Defense, Space & Security		Global Services			Total
Balance at January 1, 2016		$992		$2,648		$1,486			$5,126
Acquisitions(1)			206					206
Goodwill adjustments					(8		)	(8		)
Balance at December 31, 2016		$992		$2,854		$1,478			$5,324
Acquisitions(1)			220					220
Goodwill adjustments					15			15
Balance at December 31, 2017(1)		$992		$3,074		$1,493			$5,559

⁽¹⁾ The increase in goodwill is primarily the result of acquisitions in the fourth quarter of 2016 and 2017.

As of December 31, 2017 and 2016, we had indefinite-lived intangible assets with carrying amounts of $490 relating to trade names.

The gross carrying amounts and accumulated amortization of our acquired finite-lived intangible assets were as follows at December 31:

	2017				2016
	Gross Carrying Amount		Accumulated Amortization		Gross Carrying Amount		Accumulated Amortization
Distribution rights		$2,445		$943		$2,281		$797
Product know-how	522		298		503		271
Customer base	650		479		595		436
Developed technology	556		406		523		376
Other	213		177		194		166
Total		$4,386		$2,303		$4,096		$2,046

Amortization expense for acquired finite-lived intangible assets for the years ended December 31, 2017 and 2016 was $240 and $220. Estimated amortization expense for the five succeeding years is as follows:

	2018		2019		2020		2021		2022
Estimated amortization expense		$236		$213		$183		$174		$165

During 2017 and 2016 we acquired $298 and $113 of finite-lived intangible assets, of which $55 and $31 related to non-cash investing and financing transactions.

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Note 3 – 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)
Years ended December 31,	2017		2016		2015
Net earnings		$8,197		$4,895		$5,176
Less: earnings available to participating securities	6		3		4
Net earnings available to common shareholders		$8,191		$4,892		$5,172
Basic
Basic weighted average shares outstanding	603.2		636.5		688.0
Less: participating securities	0.7		1		1.1
Basic weighted average common shares outstanding	602.5		635.5		686.9
Diluted
Basic weighted average shares outstanding	603.2		636.5		688.0
Dilutive potential common shares(1)	7.5		7.3		8.1
Diluted weighted average shares outstanding	610.7		643.8		696.1
Less: participating securities	0.7		1.0		1.1
Diluted weighted average common shares outstanding	610.0		642.8		695.0
Net earnings per share:
Basic		$13.60		$7.70		$7.52
Diluted	13.43		7.61		7.44

⁽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 per share because the effect was either antidilutive or the performance condition was not met.

(Shares in millions)
Years ended December 31,	2017	2016	2015
Performance awards	4.1	6.5	5.6
Performance-based restricted stock units	0.5	2.5	2.3

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Note 4 – Income Taxes

The components of earnings before income taxes were:

Years ended December 31,	2017		2016		2015
U.S.		$9,615		$5,175		$6,828
Non-U.S.	432		393		327
Total		$10,047		$5,568		$7,155

Income tax expense/(benefit) consisted of the following:

Years ended December 31,	2017			2016			2015
Current tax expense
U.S. federal		$1,276			$1,193			$2,102
Non-U.S.	149			133			122
U.S. state	23			15			21
Total current	1,448			1,341			2,245
Deferred tax expense
U.S. federal	405			(618		)	(297		)
Non-U.S.	(1		)	(4		)	4
U.S. state	(2		)	(46		)	27
Total deferred	402			(668		)	(266		)
Total income tax expense		$1,850			$673			$1,979

Net income tax payments were $896, $1,460 and $1,490 in 2017, 2016 and 2015, respectively.

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The following is a reconciliation of the U.S. federal statutory tax rate of 35% to our effective income tax rates:

Years ended December 31,	2017		2016		2015
U.S. federal statutory tax	35.0	%	35.0	%	35.0	%
Impact of Tax Cuts and Jobs Act(1)	(10.5	)
Tax basis adjustment(2)			(7.9	)
Federal audit settlements(3)			(3.2	)
Excess tax benefits(4)	(2.1	)	(1.9	)
Research and development credits	(1.6	)	(5.2	)	(3.4	)
U.S. manufacturing activity tax benefit	(1.3	)	(3.8	)	(2.9	)
Tax on non-US activities	(0.9	)	(0.5	)	(0.6	)
Other provision adjustments	(0.2	)	(0.4	)	(0.4	)
Effective income tax rate	18.4	%	12.1	%	27.7	%

⁽¹⁾  On December 22, 2017, the Tax Cuts and Jobs Act (TCJA) was enacted. The TCJA revises the U.S. corporate income tax by, among other things, lowering the rate from 35% to 21% effective January 1, 2018, implementing a territorial tax system and imposing a one-time tax on deemed repatriated earnings of non-U.S. subsidiaries. In the fourth quarter of 2017, we recorded provisional tax benefits of $1,210 related to the remeasurement of our net U.S. deferred tax liabilities to reflect the reduction in the corporate tax rate. We also recorded a provisional tax expense of $159 related to tax on non-U.S. activities resulting from the TCJA.

⁽²⁾  In the third quarter of 2016, we recorded incremental tax benefits of $440 related to the application of a 2012 Federal Court of Claims decision which held that the tax basis in certain assets could be increased (tax basis adjustment).

⁽³⁾  In the third quarter of 2016, a tax benefit of $177 was recorded as a result of the settlement of the 2011-2012 federal tax audit.

⁽⁴⁾  In 2017 and 2016, we recorded excess tax benefits related to employee share-based payments of $207 and $105.

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Significant components of our deferred tax (liabilities)/assets at December 31 were as follows:

	2017			2016
Inventory and long-term contract methods of income recognition	(6,290		)	(9,954		)
Pension benefits	3,690			7,385
Retiree health care benefits	1,319			2,268
Fixed assets, intangibles and goodwill (net of valuation allowance of $16 and $16)	(1,259		)	(2,007		)
Other employee benefits	847			1,225
Customer and commercial financing	(369		)	(730		)
Accrued expenses and reserves	347			587
Net operating loss, credit and capital loss carryovers (net of valuation allowance of $53 and $79)(1)	299			277
Other	(82		)	(57		)
Net deferred tax (liabilities)/assets(2)		($1,498	)		($1,006	)

⁽¹⁾   Of the deferred tax asset for net operating loss and credit carryovers, $278 expires on or before December 31, 2036 and $21 may be carried over indefinitely.

⁽²⁾   Included in the net deferred tax (liabilities)/assets as of December 31, 2017 and 2016 are deferred tax assets in the amounts of $4,636 and $7,701 related to Accumulated other comprehensive loss.

Net deferred tax (liabilities)/assets at December 31 were as follows:

	2017			2016
Deferred tax assets		$8,459			$13,591
Deferred tax liabilities	(9,888		)	(14,502		)
Valuation allowance	(69		)	(95		)
Net deferred tax (liabilities)/assets		($1,498	)		($1,006	)

The deferred tax assets are reduced by a valuation allowance if, based upon available evidence, it is more likely than not that some or all of the deferred tax assets will not be realized.

The TCJA one-time repatriation tax liability effectively taxed the undistributed earnings previously deferred from U.S. income taxes. We have not provided for foreign withholding tax on the undistributed earnings from our non-U.S. subsidiaries because such earnings are considered to be indefinitely reinvested. If such earnings were to be distributed, any foreign withholding tax would not be significant.

In accordance with U.S. Securities and Exchange Commission Staff Accounting Bulletin No. 118 the amounts recorded in the fourth quarter of 2017 related to the TCJA represent reasonable estimates based on our analysis to date and are considered to be provisional and subject to revision during 2018. Provisional amounts were recorded for the repatriation tax, the remeasurement of our 2017 U.S. net deferred tax liabilities and ancillary state tax effects. These amounts are considered to be provisional as we continue to assess available tax methods and elections and refine our computations. In addition, further regulatory guidance related to the TCJA is expected to be issued in 2018 which may result in changes to our current estimates. Any revisions to the estimated impacts of TCJA will be recorded quarterly until the computations are complete which is expected no later than the fourth quarter of 2018.

As of December 31, 2017 and 2016, the amounts accrued for the payment of income tax-related interest and penalties included in the Consolidated Statements of Financial Position were not significant. The amounts of interest benefit included in the Consolidated Statements of Operations were not significant for the years ended December 31, 2017, 2016 and 2015.

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A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows:

	2017			2016			2015
Unrecognized tax benefits – January 1		$1,557			$1,617			$1,312
Gross increases – tax positions in prior periods	3			17			38
Gross decreases – tax positions in prior periods	(44		)	(348		)	(25		)
Gross increases – current-period tax positions	220			344			292
Settlements				(73		)
Unrecognized tax benefits – December 31		$1,736			$1,557			$1,617

As of December 31, 2017, 2016 and 2015, the total amount of unrecognized tax benefits was $1,736, $1,557 and $1,617, respectively, of which $1,568, $1,402 and $1,479 would affect the effective tax rate, if recognized. As of December 31, 2017, these amounts are primarily associated with U.S. federal tax issues such as the amount of research tax credits claimed, the U.S. manufacturing activity tax benefit and tax basis adjustments. Also included in these amounts are accruals for domestic state tax issues such as the allocation of income among various state tax jurisdictions and the amount of state tax credits claimed.

Federal income tax audits have been settled for all years prior to 2013. The Internal Revenue Service (IRS) began the 2013-2014 federal tax audit in the fourth quarter of 2016. We are also subject to examination in major state and non-U.S. jurisdictions for the 2001-2016 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 federal and state matters under audit may decrease by up to $540 and $430, respectively, based on current estimates.

Note 5 – Accounts Receivable, net

Accounts receivable at December 31 consisted of the following:

	2017			2016
U.S. government contracts		$5,989			$4,639
Commercial Airplanes	1,542			1,375
Global Services(1)	1,472			1,257
Defense, Space & Security(1)	760			533
Reinsurance receivables	467			526
Other	348			567
Less valuation allowance	(62		)	(65		)
Total		$10,516			$8,832

⁽¹⁾  Excludes U.S. government contracts

The following table summarizes our accounts receivable under long-term contracts that were unbillable or related to outstanding claims as of December 31:

	Unbillable				Claims
	2017		2016		2017		2016
Current		$2,876		$1,919		$4		$38
Expected to be collected after one year	1,564		2,011			$55	91
Total		$4,440		$3,930		$59		$129

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Under contract accounting unbillable receivables on long-term contracts arise when the sales or revenues based on performance attainment, though appropriately recognized, cannot be billed yet under terms of the contract as of the balance sheet date. Any adjustment for the credit quality of unbillable receivables, if required, would be recorded as a direct reduction of revenue. Factors considered in assessing the collectability of unbillable receivables include, but are not limited to, a customer’s extended delinquency, requests for restructuring and filings for bankruptcy. Unbillable receivables related to commercial customers expected to be collected after one year were$172 and $172 at December 31, 2017 and 2016. Accounts receivable related to claims are items that we believe are earned, but are subject to uncertainty concerning their determination or ultimate realization.

Accounts receivable, other than those described above, expected to be collected after one year are not material.

Note 6 – Inventories

Inventories at December 31 consisted of the following:

	2017			2016
Long-term contracts in progress		$13,889			$12,801
Commercial aircraft programs	52,861			52,048
Commercial spare parts, used aircraft, general stock materials and other	5,688			5,446
Inventory before advances and progress billings	72,438			70,295
Less advances and progress billings	(28,094		)	(27,096		)
Total		$44,344			$43,199

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 $120 (net of advances of $164 and $220) at December 31, 2017 and 2016. See indemnifications to ULA in Note 12.

Included in inventories at December 31, 2017 and 2016 are capitalized precontract costs of $933 and $729 primarily related to KC-46A Tanker, C-17 and F/A-18. See Note 11.

Commercial Aircraft Programs

At December 31, 2017 and 2016, commercial aircraft programs inventory included the following amounts related to the 787 program: $30,695 and $32,501 of work in process (including deferred production costs of $25,358 and $27,308), $3,189 and $2,398 of supplier advances, and $3,173 and $3,625 of unamortized tooling and other non-recurring costs. At December 31, 2017, $22,220 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 $6,311 is expected to be recovered from units included in the program accounting quantity that represent expected future orders.

At December 31, 2017 and 2016, commercial aircraft programs inventory included $151 and $284 of unamortized tooling costs related to the 747 program. At December 31, 2017, $146 of 747 unamortized tooling costs are expected to be recovered from units included in the program accounting quantity that have firm orders or commitments. The program accounting quantity includes one already completed aircraft which is being remarketed.

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Commercial aircraft programs inventory included amounts credited in cash or other consideration (early issue sales consideration) to airline customers totaling $2,976 and $3,117 at December 31, 2017 and 2016.

Note 7 – Customer Financing

Customer financing primarily relates to the BCC segment and consisted of the following at December 31:

	2017			2016
Financing receivables:
Investment in sales-type/finance leases		$1,364			$1,482
Notes	677			807
Total financing receivables	2,041			2,289
Operating lease equipment, at cost, less accumulated depreciation of $320 and $359	1,020			1,922
Gross customer financing	3,061			4,211
Less allowance for losses on receivables	(12		)	(10		)
Total		$3,049			$4,201

The components of investment in sales-type/finance leases at December 31 were as follows:

	2017			2016
Minimum lease payments receivable		$1,159			$1,321
Estimated residual value of leased assets	495			505
Unearned income	(290		)	(344		)
Total		$1,364			$1,482

Operating lease equipment primarily includes large commercial jet aircraft.

Financing receivable balances evaluated for impairment at December 31 were as follows:

	2017		2016
Individually evaluated for impairment		$77		$55
Collectively evaluated for impairment	1,964		2,234
Total financing receivables		$2,041		$2,289

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 December 31, 2017 and 2016, we individually evaluated for impairment customer financing receivables of $77 and $55, of which $66 and $44 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.

Income recognition is generally suspended for financing receivables at the date full recovery of income and principal becomes not probable. Income is recognized when financing receivables become contractually current and performance is demonstrated by the customer. The average recorded investment in impaired financing receivables for the year ended December 31, 2017 was $46 and the related interest income was insignificant.

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The change in the allowance for losses on financing receivables for the years ended December 31, 2017, 2016 and 2015, consisted of the following:

	2017			2016			2015
Beginning balance - January 1		($10	)		($16	)		($21	)
Customer financing valuation (cost)/benefit	(2		)	6			5
Ending balance - December 31		($12	)		($10	)		($16	)
Collectively evaluated for impairment		($12	)		($10	)		($16	)

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 at December 31 by internal credit rating category are shown below:

Rating categories	2017		2016
BBB		$1,170		$1,324
BB	627		538
B	177		383
CCC	67		44
Total carrying value of financing receivables		$2,041		$2,289

At December 31, 2017, our allowance related to receivables with ratings of B, BB and BBB. We applied default rates that averaged 22.6%, 4.7% and 0.9% 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 747-8 and out-of-production 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 at December 31:

	2017		2016
717 Aircraft ($269 and $301 accounted for as operating leases)		$1,081		$1,282
747-8 Aircraft ($467 and $1,086 accounted for as operating leases)	467		1,111
MD-80 Aircraft (Accounted for as sales-type finance leases)	231		259
757 Aircraft ($27 and $43 accounted for as operating leases)	217		246
747-400 Aircraft ($88 and $149 Accounted for as operating leases)	170		149
737 Aircraft ($127 and $103 Accounted for as operating leases)	161		103
767 Aircraft ($25 and $85 accounted for as operating leases)	98		170
777 Aircraft (Accounted for as notes)	14		165

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Charges related to customer financing asset impairment for the years ended December 31 were as follows:

	2017		2016		2015
Boeing Capital		$13		$45		$162
Other Boeing	30		21
Total		$43		$66		$162

Scheduled receipts on customer financing are as follows:

Year	2018		2019		2020		2021		2022		Beyond 2022
Principal payments on notes receivable		$149		$167		$132		$175		$37		$17
Sales-type/finance lease payments receivable	236		223		185		120		107		288
Operating lease equipment payments receivable	417		86		69		53		40		62

Note 8 – Property, Plant and Equipment

Property, plant and equipment at December 31 consisted of the following:

	2017			2016
Land		$530			$535
Buildings and land improvements	14,125			13,796
Machinery and equipment	14,577			13,569
Construction in progress	1,081			1,790
Gross property, plant and equipment	30,313			29,690
Less accumulated depreciation	(17,641		)	(16,883		)
Total		$12,672			$12,807

Depreciation expense was $1,548, $1,418 and $1,357 for the years ended December 31, 2017, 2016 and 2015, respectively. Interest capitalized during the years ended December 31, 2017, 2016 and 2015 totaled $110, $170 and $158, respectively.

Rental expense for leased properties was $283, $287 and $267, for the years ended December 31, 2017, 2016 and 2015, respectively. At December 31, 2017, minimum rental payments under capital leases aggregated $147. Minimum rental payments under operating leases with initial or remaining terms of one year or more aggregated $1,355, net of sublease payments of $13 at December 31, 2017. Payments due under operating and capital leases net of sublease amounts and non-cancellable future rentals during the next five years are as follows:

	2018		2019		2020		2021		2022
Minimum operating lease payments, net of sublease amounts		$216		$201		$157		$115		$96
Minimum capital lease payments	55		37		24		12		4

Accounts payable related to purchases of property, plant and equipment were $196 and $292 for the years ended December 31, 2017 and 2016.

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Note 9 – Investments

Our investments, which are recorded in Short-term and other investments or Investments, consisted of the following at December 31:

	2017		2016
Equity method investments (1)		$1,214		$1,242
Time deposits	613		665
Available-for-sale investments	508		537
Other investments	30		33
Restricted cash & cash equivalents (2)	74		68
Total		$2,439		$2,545

⁽¹⁾  Dividends received were $247 and $314 during 2017 and 2016. Retained earnings at December 31, 2017 include undistributed earnings from our equity method investments of $307.

⁽²⁾  Reflects amounts restricted in support of our workers’ compensation programs, employee benefit programs, and insurance premiums.

Equity Method Investments

Our equity method investments consisted of the following as of December 31:

	Segment	Ownership Percentages	Investment Balance
			2017		2016
United Launch Alliance	BDS	50%		$889		$914
Other	BCA, BDS, and BGS		325		328
Total equity method investments				$1,214		$1,242

Note 10 – Other Assets

Sea Launch

At December 31, 2017 and 2016, Other assets included $356 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. The net amounts owed to Boeing by each of the partners are as follows: S.P. Koroley Rocket and Space Corporation Energia of Russia (RSC Energia) – $223, 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.

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Spirit AeroSystems

As of December 31, 2017 and 2016, Other assets included $137 and $143 of receivables related to indemnifications from Spirit AeroSystems, Inc. (Spirit), for costs incurred related to pension and retiree medical obligations of former Boeing employees who were subsequently employed by Spirit. During the fourth quarter of 2014, Boeing filed a complaint against Spirit in the Delaware Superior Court seeking to enforce our rights to indemnification and to recover from Spirit amounts incurred by Boeing for pension and retiree medical obligations. During 2017, the court ruled against Boeing and denied our claim. In January 2018, Boeing filed a notice of appeal with the Delaware Supreme Court. We believe we have substantial arguments on appeal and expect to fully recover from Spirit.

Note 11 – Liabilities, Commitments and Contingencies

Accrued Liabilities

Accrued liabilities at December 31 consisted of the following:

	2017		2016
Accrued compensation and employee benefit costs		$6,659		$5,720
Environmental	524		562
Product warranties	1,211		1,414
Forward loss recognition	1,683		1,385
Dividends payable	1,005		866
Income Taxes Payable	380		89
Other	3,830		4,655
Total		$15,292		$14,691

Environmental

The following table summarizes environmental remediation activity during the years ended December 31, 2017 and 2016.

	2017			2016
Beginning balance – January 1		$562			$566
Reductions for payments made	(45		)	(47		)
Changes in estimates	7			43
Ending balance – December 31		$524			$562

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 December 31, 2017 and 2016, the high end of the estimated range of reasonably possible remediation costs exceeded our recorded liabilities by $868 and $857.

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Product Warranties

The following table summarizes product warranty activity recorded during the years ended December 31, 2017 and 2016.

	2017			2016
Beginning balance – January 1		$1,414			$1,485
Additions for current year deliveries	274			356
Reductions for payments made	(241		)	(309		)
Changes in estimates	(236		)	(118		)
Ending balance – December 31		$1,211			$1,414

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 December 31, 2017 have expiration dates from 2018 through 2026. At December 31, 2017 and 2016, total contractual trade-in commitments were $1,462 and $1,485. As of December 31, 2017 and 2016, we estimated that it was probable we would be obligated to perform on certain of these commitments with net amounts payable to customers totaling $155 and $126 and the fair value of the related trade-in aircraft was $155 and $126.

Financing Commitments

Financing commitments related to aircraft on order, including options and those proposed in sales campaigns, and refinancing of delivered aircraft, totaled $10,221 and $14,847 as of December 31, 2017 and 2016. The estimated earliest potential funding dates for these commitments as of December 31, 2017 are as follows:

	Total
2018		$2,047
2019	2,975
2020	1,396
2021	1,322
2022	935
Thereafter	1,546
		$10,221

As of December 31, 2017, all 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.

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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 $3,708 and $4,701 as of December 31, 2017 and 2016.

Commitments to ULA

We and Lockheed Martin Corporation have each committed to provide ULA with additional capital contributions in the event ULA does not have sufficient funds to make a required payment to us under an inventory supply agreement. As of December 31, 2017, ULA’s total remaining obligation to Boeing under the inventory supply agreement was $120. See Note 6.

F/A-18

At December 31, 2017, our backlog included 26 F/A-18 aircraft under contract with the U.S. Navy. We have begun work or authorized suppliers to begin working on aircraft beyond those already in backlog in anticipation of future orders. At December 31, 2017, we had $155 of capitalized precontract costs and $855 of potential termination liabilities to suppliers associated with F/A-18 aircraft not yet ordered.

Company Owned Life Insurance

McDonnell Douglas Corporation insured its executives with Company Owned Life Insurance (COLI), which are life insurance policies with a cash surrender value. Although we do not use COLI currently, these obligations from the merger with McDonnell Douglas are still a commitment at this time. We have loans in place to cover costs paid or incurred to carry the underlying life insurance policies. As of December 31, 2017 and 2016, the cash surrender value was $489 and $483 and the total loans were $470 and $456. As we have the right to offset the loans against the cash surrender value of the policies, we present the net asset in Other assets on the Consolidated Statements of Financial Position as of December 31, 2017 and 2016.

United States Government Defense Environment Overview

In November 2017, Congress passed the National Defense Authorization Act for fiscal year 2018 (FY2018), which authorizes a U.S. DoD budget topline higher than the administration’s budget request from May. While the appropriations process for FY2018 remains incomplete, both the House and Senate appropriations committees have also produced bills that increase the U.S. DoD budget topline above the administration’s request. On February 9, 2018, Congress passed a fifth Continuing Resolution that maintains current funding levels through March 23, 2018 and includes increases to the Budget Control Act caps for defense and non-defense spending for FY2018 and FY2019. However, the Budget Control Act continues to mandate limits on U.S. government discretionary spending and remains in effect. As a result, continued budget uncertainty and the risk of future sequestration cuts will remain unless Congress acts to repeal or suspend this law.

Funding timeliness also remains a risk. If Congress is unable to pass appropriations bills or an omnibus spending bill before the expiration of the current Continuing Resolution, a government shutdown could result which may have impacts above and beyond those resulting from budget cuts, sequestration impacts or program-level appropriations. 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.

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In addition, there continues to be uncertainty with respect to program-level appropriations for the U.S. DoD and other government agencies, including the National Aeronautics and Space Administration (NASA), within the overall budgetary framework described above. 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 the results of the Company’s 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, Saudi F-15, USAF KC-46A Tanker 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, during 2017, we recorded additional reach-forward losses of $471 on the KC-46A Tanker program. Moreover, this and our other 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 Engineering, Manufacturing and Development (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.

At December 31, 2017, we had approximately $347 of capitalized precontract costs and $1,024 of potential termination liabilities to suppliers.

Recoverable Costs on Government Contracts

Our final incurred costs for each year are subject to audit and review for allowability by the U.S. government, which can result in payment demands related to costs they believe should be disallowed. We work with the U.S. government to assess the merits of claims and where appropriate reserve for amounts disputed. If we are unable to satisfactorily resolve disputed costs, we could be required to record an earnings charge and/or provide refunds to the U.S. government.

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Note 12 – 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
December 31,	2017		2016		2017		2016		2017		2016
Contingent repurchase commitments		$1,605		$1,306		$1,605		$1,306		$9		$9
Indemnifications to ULA:
Contributed Delta program launch inventory	72		77
Contract pricing	261		261						7		7
Other Delta contracts	191		216								5
Credit guarantees	109		29		55		27		16		2

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. Since inception, ULA has consumed $1,288 of the $1,360 of inventory that was contributed by us and has yet to consume $72. Under the inventory supply agreement, we have recorded revenues and cost of sales of $1,528 through December 31, 2017. ULA has made payments of $1,740 to us under the inventory supply agreement and we have made $48 of net indemnification payments to ULA.

We agreed to indemnify ULA against potential losses that ULA may incur in the event ULA is unable to obtain certain additional contract pricing from the USAF for four satellite missions. In 2009, ULA filed a complaint before the Armed Services Board of Contract Appeals (ASBCA) for a contract adjustment for the price of two of these missions, followed in 2011 by a subsequent notice of appeal with respect to a third mission. The USAF did not exercise an option for a fourth mission prior to the expiration of the contract. During the second quarter of 2016, the ASBCA ruled that ULA is entitled to additional contract pricing for each of the three missions and remanded to the parties to negotiate appropriate pricing. During the fourth quarter of 2016, the USAF appealed the ASBCA’s ruling. In April 2017, the USAF withdrew its appeal. If ULA is ultimately unsuccessful in obtaining additional pricing, we may be responsible for an indemnification payment up to $261 and may record up to $277 in pre-tax losses associated with the three missions.

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

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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 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, and during the fourth quarter, Boeing filed a motion for summary judgment for full recovery of its costs. 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.

Industrial Revenue Bonds

Industrial Revenue Bonds (IRB) issued by St. Louis County were used to finance the purchase and/or construction of real and personal property at our St. Louis site. Tax benefits associated with IRBs include a twelve-year property tax abatement and sales tax exemption from St. Louis County. We record these properties on our Consolidated Statements of Financial Position. We have also purchased the IRBs and therefore are the bondholders as well as the borrower/lessee of the properties purchased with the IRB proceeds. The liabilities and IRB assets are equal and are reported net in the Consolidated Statements of Financial Position.

As of December 31, 2017 and 2016, the assets and liabilities associated with the IRBs were $166 and $64.

Note 13 – Debt

On February 16, 2017, we issued $900 of fixed rate senior notes consisting of $300 due March 1, 2022 that bear an annual interest rate of 2.125%, $300 due March 1, 2027 that bear an annual interest rate of 2.8%, and $300 due March 1, 2047 that bear an annual interest rate of 3.65%. 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 $871, after deducting underwriting discounts, commissions and offering expenses.

Interest incurred, including amounts capitalized, was $541, $535 and $497 for the years ended December 31, 2017, 2016 and 2015, respectively. Interest expense recorded by BCC is reflected as Boeing Capital interest expense on our Consolidated Statements of Operations. Total Company interest payments were $527, $523 and $488 for the years ended December 31, 2017, 2016 and 2015, respectively.

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We have $5,000 currently available under credit line agreements, of which $2,500 is a 364-day revolving credit facility expiring in October 2018, $2,470 expires in November 2022, and $30 expires in November 2021. The 364-day credit facility has a one-year term out option which allows us to extend the maturity of any borrowings one year beyond the aforementioned expiration date. We continue to be in full compliance with all covenants contained in our debt or credit facility agreements.

Short-term debt and current portion of long-term debt at December 31 consisted of the following:

	2017		2016
Unsecured debt securities		$599		$255
Non-recourse debt and notes	33		33
Capital lease obligations	52		57
Commercial Paper	600
Other notes	51		39
Total		$1,335		$384

Debt at December 31 consisted of the following:

	2017		2016
Unsecured debt securities
0.95% - 4.88% due through 2047		$6,127	5,250
5.80% - 6.88% due through 2043	2,386		2,383
7.25% - 8.75% due through 2043	1,637		1,641
Commercial paper	600
Variable rate: 3-month USD LIBOR plus 12.5 basis points due 2017				$250
Non-recourse debt and notes
6.98% - 7.38% notes due through 2021	94		127
Capital lease obligations due through 2034	138		138
Other notes	135		163
Total debt		$11,117		$9,952

As of December 31, 2017, borrowings of commercial paper of $600, with a weighted-average interest rate of 1.4%, were supported by unused commitments under the revolving credit agreement. We had no commercial paper borrowings in 2016.

Total debt is attributable to:

	2017		2016
BCC		$2,523		$2,864
Other Boeing	8,594		7,088
Total debt		$11,117		$9,952

At December 31, 2017, $94 of debt (non-recourse debt, notes and capital lease obligations) was collateralized by customer financing assets totaling $231.

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Scheduled principal payments for debt and minimum capital lease obligations for the next five years are as follows:

	2018		2019		2020		2021		2022
Scheduled principal payments		$1,340		$1,275		$1,148		$728		$554

Note 14 – Postretirement Plans

The majority of our employees have earned benefits under defined benefit pension plans. Nonunion and the majority of union employees that had participated in defined benefit pension plans transitioned to a company-funded defined contribution retirement savings plan in 2016.

We fund our major pension plans through trusts. Pension assets are placed in trust solely for the benefit of the plans’ participants, and are structured to maintain liquidity that is sufficient to pay benefit obligations as well as to keep pace over the long-term with the growth of obligations for future benefit payments.

We also have other postretirement benefits (OPB) other than pensions which consist principally of health care coverage for eligible retirees and qualifying dependents, and to a lesser extent, life insurance to certain groups of retirees. Retiree health care is provided principally until age 65 for approximately half those retirees who are eligible for health care coverage. Certain employee groups, including employees covered by most United Auto Workers bargaining agreements, are provided lifetime health care coverage. The funded status of the plans is measured as the difference between the plan assets at fair value and the projected benefit obligation (PBO). We have recognized the aggregate of all overfunded plans in Other assets, and the aggregate of all underfunded plans in either Accrued retiree health care or Accrued pension plan liability, net. The portion of the amount by which the actuarial present value of benefits included in the PBO exceeds the fair value of plan assets, payable in the next 12 months, is reflected in Accrued liabilities.

The components of net periodic benefit cost were as follows:

	Pension									Other Postretirement Benefits
Years ended December 31,	2017			2016			2015			2017			2016			2015
Service cost		$402			$604			$1,764			$106			$128			$140
Interest cost	2,991			3,050			2,990			229			262			248
Expected return on plan assets	(3,847		)	(3,999		)	(4,031		)	(7		)	(8		)	(8		)
Amortization of prior service (credits)/costs	(39		)	38			196			(137		)	(126		)	(136		)
Recognized net actuarial loss	804			790			1,577			10			22			31
Settlement/curtailment/other losses	1			40			290									10
Net periodic benefit cost		$312			$523			$2,786			$201			$278			$285
Net periodic benefit cost included in Earnings from operations		$639			$1,979			$2,366			$262			$274			$288

The following tables show changes in the benefit obligation, plan assets and funded status of both pensions and OPB for the years ended December 31, 2017 and 2016. Benefit obligation balances presented below reflect the PBO for our pension plans, and accumulated postretirement benefit obligations (APBO) for our OPB plans.

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	Pension						Other Postretirement Benefits
	2017			2016			2017			2016
Change in benefit obligation
Beginning balance		$76,745			$74,388			$6,431			$7,138
Service cost	402			604			106			128
Interest cost	2,991			3,050			229			262
Plan participants’ contributions				1
Amendments	(7		)	6			(35		)	(57		)
Actuarial loss/(gain)	5,653			2,669			(204		)	(612		)
Settlement/curtailment/other	(751		)	(63		)
Gross benefits paid	(4,658		)	(3,903		)	(481		)	(469		)
Subsidies							33			37
Exchange rate adjustment	18			(7		)	6			4
Ending balance		$80,393			$76,745			$6,085			$6,431
Change in plan assets
Beginning balance at fair value		$56,692			$56,514		134				$132
Actual return on plan assets	8,552			3,885			15			7
Company contribution	4,025			113			6			6
Plan participants’ contributions				1			4			7
Settlement payments	(744		)	(24		)
Benefits paid	(4,530		)	(3,791		)	(16		)	(18		)
Exchange rate adjustment	16			(6		)
Ending balance at fair value		$64,011			$56,692			$143			$134
Amounts recognized in statement of financial position at December 31 consist of:
Other assets		$218			$3
Other accrued liabilities	(129		)	(113		)	(397		)	(381		)
Accrued retiree health care							(5,545		)	(5,916		)
Accrued pension plan liability, net	(16,471		)	(19,943		)
Net amount recognized		($16,382	)		($20,053	)		($5,942	)		($6,297	)

Amounts recognized in Accumulated other comprehensive loss at December 31 were as follows:

	Pension						Other Postretirement Benefits
	2017			2016			2017			2016
Net actuarial loss/(gain)		$22,942			$22,802			($59	)		$152
Prior service (credits)	(1,211		)	(1,243		)	(226		)	(328		)
Total recognized in Accumulated other comprehensive loss		$21,731			$21,559			($285	)		($176	)

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The estimated amount that will be amortized from Accumulated other comprehensive loss into net periodic benefit cost during the year ending December 31, 2018 is as follows:

	Pension			Other Postretirement Benefits
Recognized net actuarial loss/(gain)		$1,128			($10	)
Amortization of prior service (credits)	(56		)	(126		)
Total		$1,072			($136	)

The accumulated benefit obligation (ABO) for all pension plans was $77,414 and $74,240 at December 31, 2017 and 2016. Key information for our plans with ABO in excess of plan assets as of December 31 was as follows:

	2017		2016
Projected benefit obligation		$74,953		$76,586
Accumulated benefit obligation	71,975		74,081
Fair value of plan assets		$58,353		$56,530

Assumptions

The following assumptions, which are the weighted average for all plans, are used to calculate the benefit obligation at December 31 of each year and the net periodic benefit cost for the subsequent year.

December 31,	2017		2016		2015
Discount rate:
Pension	3.60	%	4.00	%	4.20	%
Other postretirement benefits	3.30	%	3.70	%	3.80	%
Expected return on plan assets	6.80	%	6.80	%	7.00	%
Rate of compensation increase	5.30	%	4.40	%	4.00	%

The discount rate for each plan is determined based on the plans’ expected future benefit payments using a yield curve developed from high quality bonds that are rated as Aa or better by at least half of the four rating agencies utilized as of the measurement date. The yield curve is fitted to yields developed from bonds at various maturity points. Bonds with the ten percent highest and the ten percent lowest yields are omitted. A portfolio of about 400 bonds is used to construct the yield curve. Since corporate bond yields are generally not available at maturities beyond 30 years, it is assumed that spot rates will remain level beyond that 30-year point. The present value of each plan’s benefits is calculated by applying the discount rates to projected benefit cash flows. All bonds are U.S. issues, with a minimum outstanding of $50.

The pension fund’s expected return on plan assets assumption is derived from a review of actual historical returns achieved by the pension trust and anticipated future long-term performance of individual asset classes. While consideration is given to recent trust performance and historical returns, the assumption represents a long-term, prospective return. The expected return on plan assets component of the net periodic benefit cost for the upcoming plan year is determined based on the expected return on plan assets assumption and the market-related value of plan assets (MRVA). Since our adoption of the accounting standard for pensions in 1987, we have determined the MRVA based on a five-year moving average of plan assets. As of December 31, 2017, the MRVA was approximately $2,260 less than the fair market value of assets.

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Assumed health care cost trend rates were as follows:

December 31,	2017		2016		2015
Health care cost trend rate assumed next year	6.00	%	6.50	%	6.50	%
Ultimate trend rate	4.50	%	5.00	%	5.00	%
Year that trend reached ultimate rate	2021		2021		2021

Assumed health care cost trend rates have a significant effect on the amounts reported for the health care plans. To determine the health care cost trend rates we look at a combination of information including ongoing claims cost monitoring, annual statistical analyses of claims data, reconciliation of forecast claims against actual claims, review of trend assumptions of other plan sponsors and national health trends, and adjustments for plan design changes, workforce changes, and changes in plan participant behavior. A one-percentage-point change in assumed health care cost trend rates would have the following effect:

	Increase		Decrease
Effect on total of service and interest cost		$45		($37	)
Effect on postretirement benefit obligation	529		(448		)

Plan Assets

Investment Strategy The overall objective of our pension assets is to earn a rate of return over time to satisfy the benefit obligations of the pension plans and to maintain sufficient liquidity to pay benefits and address other cash requirements of the pension fund. Specific investment objectives for our long-term investment strategy include reducing the volatility of pension assets relative to pension liabilities, achieving a competitive total investment return, achieving diversification between and within asset classes and managing other risks. Investment objectives for each asset class are determined based on specific risks and investment opportunities identified.

We periodically update our long-term, strategic asset allocations. We use various analytics to determine the optimal asset mix and consider plan liability characteristics, liquidity characteristics, funding requirements, expected rates of return and the distribution of returns. We identify investment benchmarks to evaluate performance for the asset classes in the strategic asset allocation that are market-based and investable where possible. Actual allocations to each asset class vary from target allocations due to periodic investment strategy changes, market value fluctuations, the length of time it takes to fully implement investment allocation positions, and the timing of benefit payments and contributions. Short-term investments and exchange-traded derivatives are used to rebalance the actual asset allocation to the target asset allocation. The asset allocation is monitored and rebalanced on a monthly basis. The actual and target allocations by asset class for the pension assets at December 31 were as follows:

	Actual Allocations				Target Allocations
Asset Class	2017		2016		2017		2016
Fixed income	46	%	48	%	47	%	47	%
Global equity	31		28		29		29
Private equity	5		5		5		5
Real estate and real assets	8		9		9		9
Hedge funds	10		10		10		10
Total	100	%	100	%	100	%	100	%

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Fixed income securities are invested primarily in a diversified portfolio of long duration instruments. Global equity securities are invested in a diversified portfolio of U.S. and non-U.S. companies, across various industries and market capitalizations.

Real estate and real assets include global private investments that may be held through an investment in a limited partnership (LP) or other fund structures and publicly traded investments (such as Real Estate Investment Trusts (REITs) in the case of real estate). Real estate includes, but is not limited to, investments in office, retail, apartment and industrial properties. Real assets include, but are not limited to, investments in natural resources (such as energy, farmland and timber), commodities and infrastructure. Private equity investment vehicles are primarily limited partnerships (LPs) that mainly invest in U.S. and non-U.S. leveraged buyout, venture capital and special situation strategies.

Hedge fund investments seek to capitalize on inefficiencies identified across and within different asset classes or markets. Hedge fund strategy types include, but are not limited to directional, event driven, relative value, long-short and multi-strategy.

Investment managers are retained for explicit investment roles specified by contractual investment guidelines. Certain investment managers are authorized to use derivatives, such as equity or bond futures, swaps, options and currency futures or forwards. Derivatives are used to achieve the desired market exposure of a security or an index, transfer value-added performance between asset classes, achieve the desired currency exposure, adjust portfolio duration or rebalance the total portfolio to the target asset allocation.

As a percentage of total pension plan assets, derivative net notional amounts were 5.0% and 6.0% for fixed income, including to-be-announced mortgage-backed securities and treasury forwards, and 6.9% and 1.2% for global equity and commodities at December 31, 2017 and 2016.

In August 2017, the Company elected to contribute $3,500 of our common stock to the pension fund. An independent fiduciary was retained to manage and liquidate the stock over time at its discretion. The liquidation of the common stock holdings was completed during the fourth quarter of 2017.

Risk Management In managing the plan assets, we review and manage risk associated with funded status risk, interest rate risk, market risk, counterparty risk, liquidity risk and operational risk. Liability matching and asset class diversification are central to our risk management approach and are integral to the overall investment strategy. Further, asset classes are constructed to achieve diversification by investment strategy, by investment manager, by industry or sector and by holding. Investment manager guidelines for publicly traded assets are specified and are monitored regularly through the custodian. Credit parameters for counterparties have been established for managers permitted to trade over-the-counter derivatives. Valuation is governed through several types of procedures, including reviews of manager valuation policies, custodian valuation processes, pricing vendor practices, pricing reconciliation, and periodic, security-specific valuation testing.

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Fair Value Measurements The following table presents our plan assets using the fair value hierarchy as of December 31, 2017 and 2016. 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.

	December 31, 2017										December 31, 2016
	Total			Level 1		Level 2			Level 3		Total			Level 1		Level 2			Level 3
Fixed income securities:
Corporate		$19,603					$19,591			$12		$16,730					$16,723			$7
U.S. government and agencies	5,430					5,430					4,876					4,875			1
Mortgage backed and asset backed	760					460			300		706					370			336
Municipal	1,355					1,355					1,398					1,398
Sovereign	1,237					1,237					782					782
Other	118				$59	59					74				$9	65
Derivatives:
Assets	49					49					40					40
Liabilities	(25		)			(25		)			(38		)			(38		)
Cash equivalents and other short-term investments	1,778					1,778					1,037					1,037
Equity securities:
U.S. common and preferred stock	4,615			4,615							5,374			5,373					1
Non-U.S. common and preferred stock	6,204			6,204							5,746			5,746
Derivatives:
Assets	4			1		3					6					6
Liabilities	(4		)			(4		)			(8		)			(8		)
Private equity
Real estate and real assets:
Real estate	462			462							468			468
Real assets	705			449		253			3		672			372		295			5
Derivatives:
Assets	17					17					4					4
Liabilities	(3		)			(3		)			(1		)			(1		)
Total		$42,305			$11,790		$30,200			$315		$37,866			$11,968		$25,548			$350
Fixed income common/collective/pooled funds		$1,257										$1,625
Fixed income other	303										227
Equity common/collective pooled funds	6,786										4,962
Private equity	2,767										2,639
Real estate and real assets	3,744										3,625
Hedge funds	6,440										5,441
Total investments measured at NAV as a practical expedient		$21,297										$18,519
Cash		$170										$160
Receivables	436										374
Payables	(197		)								(227		)
Total		$64,011										$56,692

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Fixed income securities are primarily valued upon a market approach, using matrix pricing and considering a security’s relationship to other securities for which quoted prices in an active market may be available, or an income approach, converting future cash flows to a single present value amount. Inputs used in developing fair value estimates include reported trades, broker quotes, benchmark yields, and base spreads.

Common/collective/pooled funds are typically common or collective trusts valued at their NAVs that are calculated by the investment manager or sponsor of the fund and have daily or monthly liquidity. Derivatives included in the table above are over-the-counter and are primarily valued using an income approach with inputs that include benchmark yields, swap curves, cash flow analysis, rating agency data and interdealer broker rates. Exchange-traded derivative positions are reported in accordance with changes in daily variation margin which is settled daily and therefore reflected in the payables and receivables portion of the table.

Cash equivalents and other short-term investments (which are used to pay benefits) are held in a separate account which consists of a commingled fund (with daily liquidity) and separately held short-term securities and cash equivalents. All of the investments in this cash vehicle are valued daily using a market approach with inputs that include quoted market prices for similar instruments. In the event a market price is not available for instruments with an original maturity of one year or less, amortized cost is used as a proxy for fair value. Common and preferred stock equity securities are primarily valued using a market approach based on the quoted market prices of identical instruments.

Private equity and private debt NAV valuations are based on the valuation of the underlying investments, which include inputs such as cost, operating results, discounted future cash flows and market based comparable data. For those investments reported on a one-quarter lagged basis (primarily LPs) we use NAVs, adjusted for subsequent cash flows and significant events.

Real estate and real asset NAV valuations are based on valuation of the underlying investments, which include inputs such as cost, discounted future cash flows, independent appraisals and market based comparable data. For those investments reported on a one-quarter lagged basis (primarily LPs) NAVs are adjusted for subsequent cash flows and significant events. Publicly traded REITs and infrastructure stocks are valued using a market approach based on quoted market prices of identical instruments. Exchange-traded commodities futures positions are reported in accordance with changes in daily variation margin which is settled daily and therefore reflected in the payables and receivables portion of the table.

Hedge fund NAVs are generally based on the valuation of the underlying investments. This is primarily done by applying a market or income valuation methodology depending on the specific type of security or instrument held.

Investments in private equity, private debt, real estate, real assets, and hedge funds are primarily calculated and reported by the General Partner (GP), fund manager or third party administrator. Additionally, some investments in fixed income and equity are made via commingled vehicles and are valued in a similar fashion. Pension assets invested in commingled and limited partnership structures rely on the NAV of these investments as the practical expedient for the valuations.

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The following tables present a reconciliation of Level 3 assets (excluding investments which are valued using NAVs as a practical expedient) held during the years ended December 31, 2017 and 2016. Transfers into and out of Level 3 are reported at the beginning-of-year values.

	January 1 2017 Balance		Net Realized and Unrealized Gains/(Losses)			Net Purchases, Issuances and Settlements			Net Transfers Out of Level 3			December 31 2017 Balance
Fixed income securities:
Corporate (1)		$12					$1			($1	)		$12
U.S. government and agencies	1								(1		)
Mortgage backed and asset backed (1)	331			$10		(39		)	(2		)	300
Equity securities:
U.S. common and preferred stock	1		(1		)
Real assets	5					(2		)				3
Total		$350		$9			($40	)		($4	)		$315

	January 1 2016 Balance		Net Realized and Unrealized Gains/(Losses)			Net Purchases, Issuances and Settlements			Net Transfers Out of Level 3			December 31 2016 Balance
Fixed income securities:
Corporate (1)		$11					($1	)		($3	)		$7
U.S. government and agencies	1											1
Mortgage backed and asset backed (1)	440			$7		(93		)	(18		)	336
Equity securities:
U.S. common and preferred stock	1											1
Non-U.S. common and preferred stock	2					(2		)
Private equity	3		(3		)
Real assets	6					(1		)				5
Total		$464		$4			($97	)		($21	)		$350

⁽¹⁾  Certain fixed income securities were reclassified between mortgage backed and asset backed to corporate on January 1, 2017 and 2016.

The changes in unrealized gains for Level 3 mortgage backed and asset backed fixed income securities still held at December 31, 2017 and 2016 were $6and$4.

OPB Plan Assets The majority of OPB plan assets are invested in a balanced index fund which is comprised of approximately 60% equities and 40% debt securities. The index fund is valued using a market approach based on the quoted market price of an identical instrument (Level 1). The expected rate of return on these assets does not have a material effect on the net periodic benefit cost.

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Cash Flows

Contributions Required pension contributions under the Employee Retirement Income Security Act (ERISA), as well as rules governing funding of our non-US pension plans, are not expected to be significant in 2018. During the third quarter of 2017, we contributed $500 in cash and $3,500 in common stock. We do not expect to make contributions to our pension plans in 2018.

Estimated Future Benefit Payments The table below reflects the total pension benefits expected to be paid from the plans or from our assets, including both our share of the benefit cost and the participants’ share of the cost, which is funded by participant contributions. OPB payments reflect our portion only.

Year(s)	2018			2019			2020			2021			2022			2023-2027
Pensions		$4,758			$4,712			$4,740			$4,703			$4,631			$22,770
Other postretirement benefits:
Gross benefits paid	496			507			517			520			516			2,364
Subsidies	(16		)	(16		)	(17		)	(17		)	(17		)	(87		)
Net other postretirement benefits		$480			$491			$500			$503			$499			$2,277

Termination Provisions

Certain of the pension plans provide that, in the event there is a change in control of the Company which is not approved by the Board of Directors and the plans are terminated within five years thereafter, the assets in the plan first will be used to provide the level of retirement benefits required by ERISA, and then any surplus will be used to fund a trust to continue present and future payments under the postretirement medical and life insurance benefits in our group insurance benefit programs.

Should we terminate certain pension plans under conditions in which the plan’s assets exceed that plan’s obligations, the U.S. government will be entitled to a fair allocation of any of the plan’s assets based on plan contributions that were reimbursed under U.S. government contracts.

Defined Contribution Plans

We provide certain defined contribution plans to all eligible employees. The principal plans are the Company-sponsored 401(k) plans. The expense for these defined contribution plans was $1,522, $1,413 and $768 in 2017, 2016 and 2015, respectively.

Note 15 – Share-Based Compensation and Other Compensation Arrangements

Share-Based Compensation

Our 2003 Incentive Stock Plan, as amended and restated, permits awards of incentive and non-qualified stock options, stock appreciation rights, restricted stock or units, performance shares, performance restricted stock or units, performance units and other stock and cash-based awards to our employees, officers, directors, consultants, and independent contractors. The aggregate number of shares of our stock authorized for issuance under the plan is 87,000,000.

Shares issued as a result of stock option exercises or conversion of stock unit awards will be funded out of treasury shares, except to the extent there are insufficient treasury shares, in which case new shares will be issued. We believe we currently have adequate treasury shares to satisfy these issuances during 2018.

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Share-based plans expense is primarily included in General and administrative expense since it is incentive compensation issued primarily to our executives. The share-based plans expense and related income tax benefit were as follows:

Years ended December 31,	2017		2016		2015
Stock options				$4		$30
Restricted stock units and other awards	212		189		160
Share-based plans expense		$212		$193		$190
Income tax benefit		$46		$69		$68

Stock Options

We discontinued granting options in 2014, replacing them with performance-based restricted stock units. Options granted through January 2014 had an exercise price equal to the fair market value of our stock on the date of grant and expire ten years after the date of grant. The stock options vested over a period of three years and were fully vested at December 31, 2017.

Stock option activity for the year ended December 31, 2017 is as follows:

	Shares	Weighted Average Exercise Price Per Share		Weighted Average Remaining Contractual Life (Years)	Aggregate Intrinsic Value
Number of shares under option:
Outstanding at beginning of year	8,646,612		$72.64
Exercised	(4,224,194)	73.61
Expired	(5,200)	89.65
Outstanding at end of year	4,417,218		$71.69	3.93		$986
Exercisable at end of year	4,417,218		$71.69	3.93		$986

The total intrinsic value of options exercised during the years ended December 31, 2017, 2016 and 2015 was $491, $265 and $385, with a related tax benefit of $175, $94 and $135, respectively. The grant date fair value of stock options vested during the years ended December 31, 2017, 2016 and 2015 was $0, $27 and $56, respectively.

Restricted Stock Units

In February 2017, 2016 and 2015, we granted to our executives 523,835, 777,837 and 590,778restricted stock units (RSUs) as part of our long-term incentive program with grant date fair values of $178.72, $117.50 and $154.64 per unit, respectively. The RSUs 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. If an executive terminates employment because of retirement, involuntary layoff, disability, or death, the employee (or beneficiary) will receive a proration of stock units based on active employment during the three-year service period. In all other cases, the RSUs will not vest and all rights to the stock units will terminate. In addition to RSUs awarded under our long-term incentive program, we grant RSUs to certain executives and employees to encourage retention or to reward various achievements. These RSUs are labeled other RSUs in the table below. The fair values of all RSUs are estimated using the average of the high and low stock prices on the date of grant.

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RSU activity for the year ended December 31, 2017 was as follows:

	Long-Term Incentive Program			Other
Number of units:
Outstanding at beginning of year	1,814,644			1,077,920
Granted	570,538			390,152
Dividends	45,799			30,477
Forfeited	(142,907		)	(40,670		)
Distributed	(660,972		)	(301,417		)
Outstanding at end of year	1,627,102			1,156,462
Unrecognized compensation cost		$98			$82
Weighted average remaining contractual life (years)	1.8			3.4

The number of vested but undistributed RSUs at December 31, 2017 was not significant.

Performance-Based Restricted Stock Units

Performance-Based Restricted Stock Units (PBRSUs) are stock units that pay out based on the Company’s total shareholder return as compared to a group of peer companies over a three-year period. The award payout can range from 0% to 200% of the initial PBRSU grant, but will not exceed 400% of the initial value (excluding dividend equivalent credits). The PBRSUs granted under this program will vest at the payout amount and settle in common stock (on a one-for-one basis) on the third anniversary of the grant date. If an executive terminates employment because of retirement, involuntary layoff, disability, or death, the employee (or beneficiary) remains eligible under the award and, if the award is earned, will receive a proration of stock units based on active employment during the three-year service period. In all other cases, the PBRSUs will not vest and all rights to the stock units will terminate.

In February 2017, 2016 and 2015, we granted to our executives 492,273, 721,176 and 556,203 PBRSUs as part of our long-term incentive program. Compensation expense for the award is recognized over the three-year performance period based upon the grant date fair value. The grant date fair values were estimated using a Monte-Carlo simulation model with the assumptions presented below. The model includes no expected dividend yield as the units earn dividend equivalents.

Grant Year	Grant Date	Performance Period	Expected Volatility		Risk Free Interest Rate		Grant Date Fair Value
2017	2/27/2017	3 years	21.37	%	1.46	%	190.17
2016	2/22/2016	3 years	22.44	%	0.92	%	126.74
2015	2/23/2015	3 years	20.35	%	1.03	%	164.26

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PBRSU activity for the year ended December 31, 2017 was as follows:

	Long-Term Incentive Program
Number of units:
Outstanding at beginning of year	1,746,511
Granted	492,273
Performance based adjustment (1)	137,363
Dividends	54,683
Forfeited	(130,367		)
Distributed	(748,729		)
Outstanding at end of year	1,551,734
Unrecognized compensation cost		$90
Weighted average remaining contractual life (years)	1.8

⁽¹⁾  Represents net incremental number of units issued at vesting based on TSR for units granted in 2014

Other Compensation Arrangements

Performance Awards

Performance Awards are cash units that pay out based on the achievement of long-term financial goals at the end of a three-year period. Each unit has an initial value of $100 dollars. The amount payable at the end of the three-year performance period may be anywhere from $0 to $200 dollars per unit, depending on the Company’s performance against plan for a three-year period. The Compensation Committee has the discretion to pay these awards in cash, stock, or a combination of both after the three-year performance period. Compensation expense, based on the estimated performance payout, is recognized ratably over the performance period.

During 2017, 2016 and 2015, we granted Performance Awards to our executives as part of our long-term incentive program with the payout based on the achievement of financial goals for each three-year period following the grant date. The minimum payout amount is $0 and the maximum amount we could be required to pay out for the 2017, 2016 and 2015 Performance Awards is $352, $318 and $312, respectively. The 2015 grant is expected to be paid out in cash in March 2018.

Deferred Compensation

The Company has deferred compensation plans which permit employees to defer a portion of their salary, bonus, certain other incentive awards, and retirement contributions. Participants can diversify these amounts among 22 investment funds including a Boeing stock unit account.

Total expense related to deferred compensation was $240, $46 and $63 in 2017, 2016 and 2015, respectively. As of December 31, 2017 and 2016, the deferred compensation liability which is being marked to market was $1,547 and $1,289.

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Note 16 – Shareholders’ Equity

On December 11, 2017, the Board approved a new repurchase plan for up to $18,000 of common stock, replacing the previously authorized program. The program will expire when we have used all authorized funds or is otherwise terminated.

As of December 31, 2017 and 2016, there were 1,200,000,000 shares of common stock and 20,000,000 shares of preferred stock authorized. No preferred stock has been issued.

Changes in Share Balances

The following table shows changes in each class of shares:

	Common Stock	Treasury Stock
Balance at January 1, 2015	1,012,261,159	305,533,606
Issued		(7,288,113	)
Acquired		47,391,861
Balance at December 31, 2015	1,012,261,159	345,637,354
Issued		(6,376,868	)
Acquired		55,849,082
Balance at December 31, 2016	1,012,261,159	395,109,568
Issued		(20,746,426	)
Acquired		46,859,184
Balance at December 31, 2017	1,012,261,159	421,222,326

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Accumulated Other Comprehensive Loss

Changes in Accumulated other comprehensive loss (AOCI) by component for the years ended December 31, 2017, 2016 and 2015 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, 2015		$53			($8	)		($136	)		($13,812	)			($13,903	)
Other comprehensive (loss)/income before reclassifications	(92		)	8			(140		)	173				(51		)
Amounts reclassified from AOCI							79			1,127			(2)	1,206
Net current period Other comprehensive (loss)/income	(92		)	8			(61		)	1,300				1,155
Balance at December 31, 2015		($39	)		$—			($197	)		($12,512	)			($12,748	)
Other comprehensive loss before reclassifications	(104		)	(2		)	(8		)	(1,320		)		(1,434		)
Amounts reclassified from AOCI							78			481			(2)	559
Net current period Other comprehensive (loss)/income	(104		)	(2		)	70			(839		)		(875		)
Balance at December 31, 2016		($143	)		($2	)		($127	)		($13,351	)			($13,623	)
Other comprehensive income/(loss) before reclassifications	128			1			119			(478		)		(230		)
Amounts reclassified from AOCI							52			425			(2)	477
Net current period Other comprehensive income/(loss)	128			1			171			(53		)		247
Balance at December 31, 2017		($15	)		($1	)		$44			($13,404	)			($13,376	)

⁽¹⁾  Net of tax.

⁽²⁾  Primarily relates to amortization of actuarial losses for the years ended December 31, 2017, 2016, and 2015 totaling $542, $524, and $1,038 (net of tax of ($272), ($288), and ($570)), respectively. These are included in the net periodic pension cost of which a portion is allocated to production as inventoried costs. See Note 14.

Note 17 – Derivative Financial Instruments

Cash Flow Hedges

Our cash flow hedges include foreign currency forward contracts 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 2024. We use commodity derivatives, such as fixed-price purchase commitments to hedge against potentially unfavorable price changes for items used in production. Our commodity contracts hedge forecasted transactions through 2021.

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.

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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 Consolidated Statements of Financial Position as of December 31 were as follows:

	Notional   amounts(1)				Other assets						Accrued liabilities
	2017		2016		2017			2016			2017			2016
Derivatives designated as hedging instruments:
Foreign exchange contracts		$2,930		$2,584		$131			$34			($63	)		($225	)
Interest rate contracts	125		125		3			6
Commodity contracts	56		53		4			7			(6		)	(5		)
Derivatives not receiving hedge accounting treatment:
Foreign exchange contracts	406		465		16			21			(5		)	(17		)
Commodity contracts	563		648											—
Total derivatives		$4,080		$3,875	154			68			(74		)	(247		)
Netting arrangements					(61		)	(45		)	61			45
Net recorded balance						$93			$23			($13	)		($202	)

⁽¹⁾  Notional amounts represent the gross contract/notional amount of the derivatives outstanding.

Gains/(losses) associated with our cash flow and undesignated hedging transactions and their effect on Other comprehensive income/(loss) and Net earnings were as follows:

Years ended December 31,	2017			2016
Effective portion recognized in Other comprehensive income/(loss), net of taxes:
Foreign exchange contracts		$123			($9	)
Commodity contracts	(4		)	1
Effective portion reclassified out of Accumulated other comprehensive loss into earnings, net of taxes:
Foreign exchange contracts	(50		)	(70		)
Commodity contracts	(2		)	(8		)
Forward points recognized in Other income, net:
Foreign exchange contracts	8			13
Undesignated derivatives recognized in Other income, net:
Foreign exchange contracts	8			(2		)

Based on our portfolio of cash flow hedges, we expect to reclassify losses of $12 (pre-tax) out of Accumulated other comprehensive loss into earnings during the next 12 months. Ineffectiveness related to our hedges recognized in Other income was insignificant for the years ended December 31, 2017 and 2016.

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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 December 31, 2017 was $13. At December 31, 2017, there was no collateral posted related to our derivatives.

Note 18 – Significant Group Concentrations of Risk

Credit Risk

Financial instruments involving potential credit risk are predominantly with commercial aircraft customers and the U.S. government. Of the $13,639 in gross accounts receivable and gross customer financing included in the Consolidated Statements of Financial Position as of December 31, 2017, $5,572 related predominantly to commercial aircraft customers ($2,512 of accounts receivable and $3,060 of customer financing) and $5,989 related to the U.S. government.

Of the $3,061 in gross customer financing, $1,828 related to customers we believe have less than investment-grade credit including Silk Way, American, and Hawaiian Airlines who were associated with 14%, 8%, and 7%, respectively, of our financing portfolio. Financing for aircraft is collateralized by security in the related asset and in some instances security in other assets as well.

Other Risk

As of December 31, 2017, approximately 37% of our total workforce was represented by collective bargaining agreements.

Note 19 – 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.

	December 31, 2017								December 31, 2016
	Total			Level 1		Level 2			Total			Level 1		Level 2
Assets
Money market funds		$1,582			$1,582					$2,858			$2,858
Available-for-sale investments:
Commercial paper	70					70			162					162
Corporate notes	382					382			271					271
U.S. government agencies	47					47			63					63
Other	18			18					46			46
Derivatives	93					93			23						$23
Total assets		$2,192			$1,600		$592			$3,423			$2,904		$519
Liabilities
Derivatives		($13	)				($13	)		($202	)				($202	)
Total liabilities		($13	)				($13	)		($202	)				($202	)

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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 years ended December 31 due to long-lived asset impairment, and the fair value and asset classification of the related assets as of the impairment date:

	2017					2016
	Fair Value		Total Losses			Fair Value		Total Losses
Investments		$1		($44	)
Operating lease equipment	90		(32		)		$84		($52	)
Other assets and Acquired intangible assets	14		(23		)	12		(10		)
Property, plant and equipment	8		(2		)	10		(9		)
Total		$113		($101	)		$106		($71	)

Investments, Acquired intangible assets and Property, plant and equipment 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.

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For Level 3 assets that were measured at fair value on a nonrecurring basis during the year ended December 31, 2017, 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	$90	Market approach	Aircraft value publications	$140 - $191(1) Median $167
			Aircraft condition adjustments	($77) - $0(2) Net ($77)

⁽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 Consolidated Statements of Financial Position at December 31 were as follows:

	December 31, 2017
	Carrying Amount			Total Fair Value			Level 1	Level 2			Level 3
Assets
Notes receivable, net		$677			$682				$682
Liabilities
Debt, excluding capital lease obligations and commercial paper	(10,380		)	(11,923		)		(11,823		)		($100	)

	December 31, 2016
	Carrying Amount			Total Fair Value			Level 1	Level 2			Level 3
Assets
Notes receivable, net		$807			$803				$803
Liabilities
Debt, excluding capital lease obligations	(9,815		)	(11,209		)		(11,078		)		($131	)

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, Accounts payable and long-term payables. The carrying values of those items, as reflected in the

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Consolidated Statements of Financial Position, approximate their fair value at December 31, 2017 and 2016. 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).

Note 20 – 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.

Note 21 – Segment Information

Effective July 1, 2017, we now operate in four reportable segments: BCA, BDS, BGS, and BCC. The new segment, BGS, brings together the Commercial Aviation Services businesses, previously included in the BCA segment, and certain BDS businesses (primarily those previously included in the Global Services & Support segment). All other activities fall within Unallocated items, eliminations and other. See page 51 for the Summary of Business Segment Data, which is an integral part of this note. Prior year numbers have been revised to conform to the current segment presentation.

BCA develops, produces and markets commercial jet aircraft principally to the commercial airline industry worldwide.

BDS is engaged 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.

BGS provides parts, maintenance, modifications, logistics support, training, data analytics and information-based services to commercial and government customers worldwide.

BCC facilitates, arranges, structures and provides selective financing solutions for our Boeing customers.

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.

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Revenues, including foreign military sales, are reported by customer location and consist of the following:

Years ended December 31,	2017		2016		2015
Asia, other than China		$8,899		$10,553		$13,433
Europe	11,457		13,790		12,248
China	11,911		10,312		12,556
Middle East	12,287		13,297		10,846
Oceania	2,061		1,843		2,601
Canada	2,197		2,076		1,870
Africa	755		1,999		1,398
Latin America, Caribbean and other	1,494		1,936		1,875
Total non-U.S. revenues	51,061		55,806		56,827
United States	42,331		38,765		39,287
Total revenues		$93,392		$94,571		$96,114

Revenues from the U.S. government (including foreign military sales through the U.S. government), primarily recorded at BDS and BGS, represented 31%, 23% and 27% of consolidated revenues for 2017, 2016 and 2015, respectively. Approximately 5% and 4% of operating assets were located outside the United States as of December 31, 2017 and 2016. The information in the following tables is derived directly from the segments’ internal financial reporting used for corporate management purposes.

Depreciation and Amortization

Years ended December 31,	2017		2016		2015
Commercial Airplanes		$521		$442		$388
Defense, Space, & Security	252		220		248
Global Services	322		312		317
Boeing Capital Corporation	70		83		87
Unallocated items, eliminations and other	904		853		793
Total		$2,069		$1,910		$1,833

Capital Expenditures

Years ended December 31,	2017		2016		2015
Commercial Airplanes		$636		$830		$819
Defense, Space, & Security	210		290		226
Global Services	180		209		132
Unallocated items, eliminations and other	713		1,284		1,273
Total		$1,739		$2,613		$2,450

Unallocated capital expenditures relate primarily to assets managed centrally on behalf of the five principal segments.

We recorded Earnings from operations associated with our equity method investments of $233, $303 and $274, primarily in our BDS segment, for the years ended December 31, 2017, 2016 and 2015, respectively.

For segment reporting purposes, we record Commercial Airplanes segment revenues and cost of sales for airplanes transferred to other segments. Such transfers may include airplanes accounted for as operating leases and considered transferred to the BCC segment and airplanes transferred to the BDS

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segment for further modification prior to delivery to the customer. In addition, BGS segment revenue and costs include certain services provided to other segments. The revenues and cost of sales for these transfers are eliminated in the Unallocated items and eliminations caption. For segment reporting purposes, we record BDS revenues and cost of sales for the modification performed on airplanes received from Commercial Airplanes when the airplane is delivered to the customer or at the attainment of performance milestones.

Intersegment revenues, eliminated in Unallocated items, eliminations and other, are shown in the following table.

Years ended December 31,	2017		2016		2015
Commercial Airplanes		$1,571		$2,001		$1,700
Global Services	49		75		95
Boeing Capital	28		16		15
Total		$1,648		$2,092		$1,810

Unallocated Items, Eliminations and other

Unallocated items, eliminations and other includes costs not attributable to business segments as well as intercompany profit eliminations. 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.

Years ended December 31,	2017			2016			2015
Share-based plans		($77	)		($66	)		($76	)
Deferred compensation	(240		)	(46		)	(63		)
Amortization of previously capitalized interest	(98		)	(94		)	(90		)
Eliminations and other unallocated items	(640		)	(527		)	(511		)
Sub-total	(1,055		)	(733		)	(740		)
Pension	1,120			217			(421		)
Postretirement	188			153			123
Pension and Postretirement	1,308			370			(298		)
Total		$253			($363	)		($1,038	)

Unallocated Pension and Other Postretirement Benefit Expense

Unallocated pension and other postretirement benefit expense represent the portion of pension and other postretirement benefit costs that are not recognized by business segments for segment reporting purposes. Pension costs, comprising GAAP service and prior service costs, are allocated to BCA. 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.

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Assets

Segment assets are summarized in the table below.

December 31,	2017		2016
Commercial Airplanes		$47,737		$46,745
Defense, Space & Security	15,865		14,123
Global Services	12,353		11,490
Boeing Capital	3,156		4,139
Unallocated items, eliminations and other	13,222		13,500
Total		$92,333		$89,997

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.

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Note 22 – Quarterly Financial Data (Unaudited)

	2017												2016
	4th			3rd			2nd			1st			4th			3rd			2nd			1st
Total revenues		$25,368			$24,309			$22,739			$20,976			$23,286			$23,898			$24,755			$22,632
Total costs and expenses	(20,427		)	(19,987		)	(18,388		)	(17,264		)	(19,464		)	(19,904		)	(22,325		)	(19,097		)
Earnings from operations	3,030			2,689			2,535			2,024			2,183			2,282			(419		)	1,788
Net earnings/(loss)	3,132			1,853			1,761			1,451			1,631			2,279			(234		)	1,219
Basic earnings/(loss) per share	5.25			3.10			2.93			2.36			2.63			3.64			(0.37		)	1.85
Diluted earnings/(loss) per share	5.18			3.06			2.89			2.34			2.59			3.60			(0.37		)	1.83
Cash dividends declared per share	3.13						2.84						2.51						2.18
Common stock sales price per share:
High	299.33			259.30			204.39			185.71			160.07			139.45			137.89			141.70
Low	253.53			197.75			175.47			155.21			130.74			123.96			122.35			102.10
Quarter end	294.91			254.21			197.75			176.86			155.68			131.74			129.87			126.94

Gross profit is calculated as Total revenues minus Total costs and expenses. Total costs and expenses includes Cost of products, Cost of services and Boeing Capital interest expense.

During the fourth quarter of 2017, as a result of the enactment of the TCJA, we recorded incremental tax benefits of $1,051, primarily related to the remeasurement of net U.S. deferred tax liabilities.

During 2017 and 2016, higher estimated costs to complete the KC-46A Tanker contract for the U.S. Air Force resulted in reach-forward losses. We recorded $329 and $142 in the third and first quarter of 2017. We recorded $312, $573 and $243 in the fourth, second and first quarter of 2016, respectively.

During the third quarter of 2016, delays in completion of engineering and supply chain activities for the Commercial Crew program resulted in a charge of $162.

During the second quarter of 2016 and first quarter of 2016, we recorded reach-forward losses of $1,188 and $70 on the 747 program.

During the second quarter of 2016, we determined that the fourth and fifth flight test aircraft for the 787 program are not commercially saleable, and we reclassified costs of $1,235 associated with these aircraft from 787 program inventory to research and development expense.

During the third quarter of 2016, we recorded an incremental tax benefit of $440that related to the application of a 2012 Federal Court of Claims decision. We also recorded a tax benefit of $177as a result of the 2011-2012 federal tax audit settlements.

We increased our quarterly dividend from $1.09 to $1.42 in December 2016 and to $1.71 in December 2017.

105

REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

To the shareholders and the Board of Directors of The Boeing Company

Opinion on the Financial Statements

We have audited the accompanying consolidated statements of financial position of The Boeing Company and subsidiaries (the “Company”) as of December 31, 2017 and 2016, the related consolidated statements of operations, comprehensive income, equity, and cash flows, for each of the three years in the period ended December 31, 2017, and the related notes (collectively referred to as the “financial statements”). In our opinion, the financial statements present fairly, in all material respects, the financial position of the Company as of December 31, 2017 and 2016, and the results of its operations and its cash flows for each of the three years in the period ended December 31, 2017, in conformity with accounting principles generally accepted in the United States of America.

We have also audited, in accordance with the standards of the Public Company Accounting Oversight Board (United States) (PCAOB), the Company’s internal control over financial reporting as of December 31, 2017, based on criteria established in Internal Control – Integrated Framework (2013) issued by the Committee of Sponsoring Organizations of the Treadway Commission and our report dated February 12, 2018, expressed an unqualified opinion on the Company’s internal control over financial reporting.

Basis for Opinion

These financial statements are the responsibility of the Company's management. Our responsibility is to express an opinion on the Company's financial statements based on our audits. We are a public accounting firm registered with the PCAOB and are required to be independent with respect to the Company in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.

We conducted our audits in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud. Our audits included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. We believe that our audits provide a reasonable basis for our opinion.

/s/ Deloitte & Touche LLP

Chicago, Illinois

February 12, 2018

We have served as the Company's auditor since at least 1934; however, an earlier year cannot be reliably determined.

106

REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

To the shareholders and the Board of Directors of The Boeing Company

Opinion on Internal Control over Financial Reporting

We have audited the internal control over financial reporting of The Boeing Company and subsidiaries (the “Company”) as of December 31, 2017, based on criteria established in Internal Control – Integrated Framework (2013) issued by the Committee of Sponsoring Organizations of the Treadway Commission (COSO). In our opinion, the Company maintained, in all material respects, effective internal control over financial reporting as of December 31, 2017, based on criteria established in Internal Control - Integrated Framework (2013) issued by COSO.

We have also audited, in accordance with the standards of the Public Company Accounting Oversight Board (United States) (PCAOB), the consolidated financial statements as of and for the year ended December 31, 2017, of the Company and our report dated February 12, 2018, expressed an unqualified opinion on those financial statements.

Basis for Opinion

The Company’s management is responsible for maintaining effective internal control over financial reporting and for its assessment of the effectiveness of internal control over financial reporting, included in the accompanying Management’s Report on Internal Control Over Financial Reporting. Our responsibility is to express an opinion on the Company’s internal control over financial reporting based on our audit. We are a public accounting firm registered with the PCAOB and are required to be independent with respect to the Company in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.

We conducted our audit in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether effective internal control over financial reporting was maintained in all material respects. Our audit included obtaining an understanding of internal control over financial reporting, assessing the risk that a material weakness exists, testing and evaluating the design and operating effectiveness of internal control based on the assessed risk, and performing such other procedures as we considered necessary in the circumstances. We believe that our audit provides a reasonable basis for our opinion.

Definition and Limitations of Internal Control over Financial Reporting

A company’s internal control over financial reporting is a process designed to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles. A company’s internal control over financial reporting includes those policies and procedures that (1) pertain to the maintenance of records that, in reasonable detail, accurately and fairly reflect the transactions and dispositions of the assets of the company; (2) provide reasonable assurance that transactions are recorded as necessary to permit preparation of financial statements in accordance with generally accepted accounting principles, and that receipts and expenditures of the company are being made only in accordance with authorizations of management and directors of the company; and (3) provide reasonable assurance regarding prevention or timely detection of unauthorized acquisition, use, or disposition of the company’s assets that could have a material effect on the financial statements. Because of its inherent limitations, internal control over financial reporting may not prevent or detect misstatements. Also, projections of any evaluation of effectiveness to future periods are subject to the risk that controls may become inadequate because of changes in conditions, or that the degree of compliance with the policies or procedures may deteriorate.

/s/ Deloitte & Touche LLP

Chicago, Illinois

February 12, 2018

107

Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure

None.

Item 9A. Controls and Procedures

(a) Evaluation of Disclosure Controls and Procedures.

Our Chief Executive Officer and Chief Financial Officer have evaluated our disclosure controls and procedures as of December 31, 2017 and have concluded that these disclosure controls and procedures are effective to ensure that information required to be disclosed by us in the reports that we file or submit under the Securities Exchange Act of 1934 is recorded, processed, summarized and reported within the time periods specified in the Securities and Exchange Commission’s rules and forms and is accumulated and communicated to our management, including the Chief Executive Officer and Chief Financial Officer, as appropriate to allow timely decisions regarding required disclosure.

(b) Management’s Report on Internal Control Over Financial Reporting.

Our management is responsible for establishing and maintaining adequate internal control over financial reporting, as such term is defined in Exchange Act Rules 13a-15(f). Our management conducted an evaluation of the effectiveness of our internal control over financial reporting based on the framework in Internal Control – Integrated Framework (2013) issued by the Committee of Sponsoring Organizations of the Treadway Commission. Based on this evaluation under the framework in Internal Control – Integrated Framework, our management concluded that our internal control over financial reporting was effective as of December 31, 2017.

Our internal control over financial reporting as of December 31, 2017, has been audited by Deloitte & Touche LLP, an independent registered public accounting firm, as stated in their report which is included in Item 8 of this report and is incorporated by reference herein.

(c) Changes in Internal Controls Over Financial Reporting.

There were no changes in our internal control over financial reporting that occurred during the fourth quarter of 2017 that have materially affected or are reasonably likely to materially affect our internal control over financial reporting.

Item 9B. Other Information

None.

108

Part III

Item 10. Directors, Executive Officers and Corporate Governance

Our executive officers and their ages as of February 5, 2018, are as follows:

Name	Age	Principal Occupation or Employment/Other Business Affiliations
Bertrand-Marc Allen	44	Senior Vice President and President, Boeing International since February 2015. Mr. Allen previously served as President of Boeing Capital Corporation from March 2014 to February 2015; Corporate Vice President, Boeing International and Chairman and President of Boeing (China) Co., Ltd. from March 2011 to March 2014; and Vice President, Global Law Affairs from May 2007 to March 2011.
Heidi B. Capozzi	48	Senior Vice President, Human Resources since March 2016. Ms. Capozzi previously served as Vice President of Leadership Development, Talent Management and Organization Effectiveness from April 2013 to March 2016; Director of Human Resources for the Airplane Programs division of Commercial Airplanes from April 2011 to April 2013; and Director of Human Resources for the Surveillance and Engagement division of Boeing Military Aircraft from May 2009 to April 2011.
Leanne G. Caret	51	Executive Vice President, President and Chief Executive Officer, Boeing Defense, Space & Security since March 2016. Ms. Caret joined Boeing in 1988, and her previous positions include President of Global Services & Support from February 2015 to March 2016; Chief Financial Officer and Vice President, Finance, for BDS from March 2014 to February 2015; Vice President and General Manager, Vertical Lift from November 2012 to February 2014; and Vice President and Program Manager, Chinook from November 2009 to October 2012.
Theodore Colbert III	44	Chief Information Officer and Senior Vice President, Information Technology & Data Analytics since April 2016. Mr. Colbert previously served as Chief Information Officer and Vice President of Information Technology from November 2013 to April 2016; Vice President of Information Technology Infrastructure from December 2011 to November 2013; and Vice President of IT Business Systems from September 2010 to December 2011.
Stanley A. Deal	53	Executive Vice President, President and Chief Executive Officer, Boeing Global Services since November 2016. Mr. Deal joined Boeing in 1986, and his previous positions include Senior Vice President of Commercial Aviation Services from March 2014 to November 2016; Vice President and General Manager of Supply Chain Management and Operations for Commercial Airplanes from September 2011 to February 2014; Vice President of Supplier Management from February 2010 to August 2011; and Vice President of Asia Pacific Sales from December 2006 to January 2010.
Gregory L. Hyslop	59	Chief Technology Officer and Senior Vice President, Boeing Engineering, Test & Technology since July 2016. Mr. Hyslop was named Senior Vice President, Boeing Engineering, Test & Technology in March 2016, and his previous positions include Vice President and General Manager of Boeing Research & Technology from February 2013 to March 2016 and Vice President and General Manager of Boeing Strategic Missile & Defense Systems from March 2009 to February 2013.

109

Name	Age	Principal Occupation or Employment/Other Business Affiliations
Timothy J. Keating	56	Senior Vice President, Government Operations since joining Boeing in June 2008. Mr. Keating served as Senior Vice President, Global Government Relations at Honeywell International Inc. from October 2002 to May 2008. Prior thereto, Mr. Keating was Chairman of the Board and Managing Partner of Timmons and Company (a Washington, D.C. lobbying firm).
J. Michael Luttig	63	Executive Vice President and General Counsel since April 2009. Mr. Luttig joined Boeing in May 2006 as Senior Vice President, General Counsel. From October 1991 to May 2006, he served on the United States Court of Appeals for the Fourth Circuit. Mr. Luttig previously served as Assistant Attorney General of the United States, Counselor to the Attorney General at the Department of Justice and Principal Deputy Assistant Attorney General at the Department of Justice and was associated with Davis Polk & Wardwell LLP. Mr. Luttig serves as Director, Franklin Templeton Mutual Funds.
Kevin G. McAllister	54	Executive Vice President, President and Chief Executive Officer, Boeing Commercial Airplanes since November 2016. Mr. McAllister served as President and Chief Executive Officer of GE Aviation Services from January 2014 to November 2016 and Vice President, Global Sales and Marketing of GE Aviation from June 2008 to January 2014.
Dennis A. Muilenburg	54	Chairman, President and Chief Executive Officer since March 2016. Mr. Muilenburg was named President and Chief Executive Officer in July 2015. He joined Boeing in 1985, and his previous positions include Vice Chairman, President and Chief Operating Officer from December 2013 to July 2015; Executive Vice President, President and Chief Executive Officer of BDS from September 2009 to December 2013; President of Global Services & Support from February 2008 to August 2009; Vice President and General Manager of Combat Systems from May 2006 to February 2008; and Vice President and Program Manager for Future Combat Systems. Mr. Muilenburg also serves on the board of Caterpillar Inc.
Philip A. Musser	45	Senior Vice President, Communications since September 2017. Mr. Musser previously served as President of New Frontier Strategy from January 2007 to September 2017 and co-founder of The Media Group of America where he served as Chairman and CEO of IMGE from January 2013 to September 2017.
Jenette E. Ramos	52	Senior Vice President, Supply Chain & Operations since June 2017. Ms. Ramos joined Boeing in 1988, and her previous positions include Vice President and General Manager, BCA Fabrication from April 2014 to May 2017; Vice President, Supply Chain Management from January 2012 to April 2014; Vice President, Operations Supply Chain Rate, Supplier Management Capability for Boeing Commercial Airplanes from June 2011 to January 2012; director of Business Operations for Boeing Fabrication from June 2009 to May 2011; General Manager of Boeing Portland from February 2005 to May 2009 and director of Boeing Fabrication Integrated AeroStructures from September 2003 to January 2005.

110

Name	Age	Principal Occupation or Employment/Other Business Affiliations
Diana L. Sands	52	Senior Vice President, Office of Internal Governance and Administration since March 2016. Ms. Sands previously served as Senior Vice President, Office of Internal Governance from April 2014 to March 2016; Vice President of Finance and Corporate Controller from February 2012 to April 2014 and Vice President of Investor Relations, Financial Planning & Analysis from February 2010 to February 2012. Prior to that, she held positions in Investor Relations, Financial Planning and in Corporate Treasury.
Gregory D. Smith	51	Chief Financial Officer and Executive Vice President, Enterprise Performance and Strategy since February 2015. Mr. Smith previously served as Executive Vice President, Chief Financial Officer from February 2012 to February 2015; Vice President of Finance and Corporate Controller from February 2010 to February 2012; and Vice President of Financial Planning & Analysis from June 2008 to February 2010. From August 2004 until June 2008, he served as Vice President of Global Investor Relations at Raytheon Company. Prior to that, he held a number of positions at Boeing including CFO, Shared Services Group; Controller, Shared Services Group; Senior Director, Internal Audit; and leadership roles in supply chain, factory operations and program management. Mr. Smith serves on the board of Intel Corporation.

Information relating to our directors and nominees will be included under the caption “Election of Directors” in the 2018 Proxy Statement for our Annual Shareholders Meeting scheduled to be held on April 30, 2018 and is incorporated by reference herein. The information required by Items 405, 407(d)(4) and 407(d)(5) of Regulation S-K will be included under the captions “Stock Ownership Information – Section 16(a) Beneficial Ownership Reporting Compliance” and “Board Committees” in the 2018 Proxy Statement, and that information is incorporated by reference herein.

Codes of Ethics. We have adopted (1) The Boeing Company Code of Ethical Business Conduct for the Board of Directors; (2) The Boeing Company Code of Conduct for Finance Employees which is applicable to our Chief Executive Officer (CEO), Chief Financial Officer (CFO), Controller and all finance employees; and (3) The Boeing Code of Conduct that applies to all employees, including our CEO (collectively, the Codes of Conduct). The Codes of Conduct are posted on our website, www.boeing.com/company/general-info/corporate-governance.page, and printed copies may be obtained, without charge, by contacting the Office of Internal Governance, The Boeing Company, 100 N. Riverside Plaza, Chicago, IL 60606. We intend to disclose promptly on our website any amendments to, or waivers of, the Codes of Conduct covering our CEO, CFO and/or Controller.

No family relationships exist among any of the executive officers, directors or director nominees.

Item 11. Executive Compensation

The information required by Item 402 of Regulation S-K will be included under the captions “Compensation Discussion and Analysis,” “Compensation of Executive Officers,” and “Compensation of Directors” in the 2018 Proxy Statement, and that information is incorporated by reference herein. The information required by Item 407(e)(4) and 407(e)(5) of Regulation S-K will be included under the captions “Compensation Committee Interlocks and Insider Participation” and “Compensation Committee Report” in the 2018 Proxy Statement, and that information is incorporated by reference herein.

111

Item 12. Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

The information required by Item 403 of Regulation S-K will be included under the caption “Stock Ownership Information” in the 2018 Proxy Statement, and that information is incorporated by reference herein.

Equity Compensation Plan Information

We currently maintain two equity compensation plans that provide for the issuance of common stock to officers and other employees, directors and consultants. Each of these compensation plans was approved by our shareholders. The following table sets forth information regarding outstanding options and shares available for future issuance under these plans as of December 31, 2017:

Plan Category	Number of shares to be issued upon exercise of outstanding options, warrants and rights	Weighted-average exercise price of outstanding options, warrants and rights		Number of securities remaining available for future issuance under equity compensation plans (excluding shares reflected in column (a))
	(a)	(b)		(c)
Equity compensation plans approved by shareholders
Stock options	4,417,218		$71.69
Deferred compensation	2,237,472
Other stock units(1)	5,887,032
Equity compensation plans not approved by shareholders	None	None		None
Total(2)	12,541,722		$71.69	14,492,124

⁽¹⁾   Includes 3,103,468shares issuable in respect of PBRSUs subject to the satisfaction of performance criteria and assumes payout at maximum levels.

⁽²⁾  Excludes the potential performance awards which the Compensation Committee has the discretion to pay in cash, stock or a combination of both after the three-year performance periods which end in 2017, 2018 and 2019.

For further information, see Note 15 to our Consolidated Financial Statements.

Item 13. Certain Relationships and Related Transactions, and Director Independence

The information required by Item 404 of Regulation S-K will be included under the caption “Related Person Transactions” in the 2018 Proxy Statement, and that information is incorporated by reference herein.

The information required by Item 407(a) of Regulation S-K will be included under the caption “Director Independence” in the 2018 Proxy Statement, and that information is incorporated by reference herein.

112

Item 14. Principal Accounting Fees and Services

The information required by this Item will be included under the caption “Independent Auditor Fees” in the 2018 Proxy Statement, and that information is incorporated by reference herein.

PART IV

Item 15. Exhibits, Financial Statement Schedules

(a) List of documents filed as part of this report:

1. Financial Statements

Our consolidated financial statements are as set forth under Item 8 of this report on Form 10-K.

2. Financial Statement Schedules

All schedules are omitted because they are not applicable, not required, or the information is included in the consolidated financial statements.

3. Exhibits

3.1	Amended and Restated Certificate of Incorporation of The Boeing Company dated May 5, 2006 (Exhibit 3.1 to the Company’s Current Report on Form 8-K dated May 1, 2006).
3.2	By-Laws of The Boeing Company, as amended and restated December 17, 2017 (Exhibit 3.2 to the Company’s Current Report on Form 8-K dated December 17, 2017).
10.1	364-Day Credit Agreement, dated as of November 1, 2017, among The Boeing Company, Citigroup Global Markets Inc. and JPMorgan Chase Bank, N.A. as joint lead arrangers and joint book managers, JPMorgan Chase Bank, N.A. as syndication agent and Citibank, N.A. as administrative agent (Exhibit 10.1 to the Company’s Current Report on Form 8-K dated November 1, 2017).
10.2	Five-Year Credit Agreement, dated as of November 10, 2011, among The Boeing Company, the Lenders party thereto, Citigroup Global Markets Inc. and J.P. Morgan Securities LLC as joint lead arrangers and joint book managers, JPMorgan Chase Bank, N.A. as syndication agent and Citibank, N.A. as administrative agent (Exhibit 10.2 to the Company’s Current Report on Form 8-K dated November 10, 2011).
10.3	Amendment No. 1 dated as of October 9, 2014 to the Five-Year Credit Agreement, dated as of November 10, 2011, among The Boeing Company, the Lenders party thereto, Citigroup Global Markets Inc. and J.P. Morgan Securities LLC as joint lead arrangers and joint book managers, JPMorgan Chase Bank, N.A. as syndication agent and Citibank, N.A. as administrative agent (Exhibit 10.2 to the Company’s Current Report on Form 8-K dated October 14, 2014).
10.4	Amendment No. 2 dated as of November 4, 2015 to the Five-Year Credit Agreement, dated as of November 10, 2011, among The Boeing Company, the Lenders party thereto, Citigroup Global Markets Inc. and J.P. Morgan Securities LLC as joint lead arrangers and joint book managers, JPMorgan Chase Bank, N.A. as syndication agent and Citibank, N.A. as administrative agent (Exhibit 10.2 to the Company’s Current Report on Form 8-K dated November 4, 2015).
10.5	Amendment No. 3 dated as of November 2, 2016 to the Five-Year Credit Agreement, dated as of November 10, 2011, among The Boeing Company, the Lenders party thereto, Citigroup Global Markets Inc. and JPMorgan Chase Bank, N.A. as joint lead arrangers and joint book managers, JPMorgan Chase Bank, N.A. as syndication agent and Citibank, N.A. as administrative agent (Exhibit 10.2 to the Company’s Current Report on Form 8-K dated November 2, 2016).
10.6	Amendment No. 4 dated as of November 1, 2017 to the Five-Year Credit Agreement, dated as of November 10, 2011, among The Boeing Company, the Lenders party thereto, Citigroup Global Markets Inc. and JPMorgan Chase Bank, N.A. as joint lead arrangers and joint book managers, JPMorgan Chase Bank, N.A. as syndication agent and Citibank, N.A. as administrative agent (Exhibit 10.2 to the Company’s Current Report on Form 8-K dated November 1, 2017).

113

10.7	Joint Venture Master Agreement, dated as of May 2, 2005, by and among Lockheed Martin Corporation, The Boeing Company and United Launch Alliance, L.L.C. (Exhibit (10)(i) to the Company’s Form 10-Q for the quarter ended June 30, 2005).
10.8	Delta Inventory Supply Agreement, dated as of December 1, 2006, by and between United Launch Alliance, L.L.C. and The Boeing Company (Exhibit (10)(vi) to the Company’s Form 10-K for the year ended December 31, 2006).
10.9	Summary of Non-Employee Director Compensation (Exhibit 10 to the Company’s Form 10-Q for the quarter ended September 30, 2016).*
10.10	Deferred Compensation Plan for Directors of The Boeing Company, as amended and restated effective January 1, 2008 (Exhibit 10.2 to the Company’s Current Report on Form 8-K dated October 28, 2007).*
10.11	Deferred Compensation Plan for Employees of The Boeing Company, as amended and restated on January 1, 2008 (Exhibit 10.1 to the Company’s Current Report on Form 8-K dated October 28, 2007).*
10.12	Incentive Compensation Plan for Employees of The Boeing Company and Subsidiaries, as amended and restated effective October 31, 2016 (Exhibit (10)(xi) to the Company’s Form 10-K for the year ended December 31, 2016).*
10.13	The Boeing Company Elected Officer Annual Incentive Plan, as amended and restated effective October 31, 2016 (Exhibit (10)(xii) to the Company’s Form 10-K for the year ended December 31, 2016).*
10.14	The Boeing Company 1997 Incentive Stock Plan, as amended effective May 1, 2000 and further amended effective January 1, 2008 (Exhibit 10.5 to the Company’s Current Report on Form 8-K dated October 28, 2007).*
10.15	Supplemental Pension Agreement between The Boeing Company and J. Michael Luttig dated January 25, 2007, as amended on November 14, 2007 (Exhibit (10)(xxx) to the Company’s Form 10-K for the year ended December 31, 2007).*
10.16	Supplemental Benefit Plan for Employees of The Boeing Company, as amended and restated effective January 1, 2016 (Exhibit (10)(xvi) to the Company’s Form 10-K for the year ended December 31, 2016).*
10.17	Supplemental Executive Retirement Plan for Employees of The Boeing Company, as amended and restated as of January 1, 2016 (Exhibit (10)(xvi) to the Company’s Form 10-K for the year ended December 31, 2015).*
10.18	The Boeing Company Executive Layoff Benefits Plan, as amended and restated effective January 1, 2017 (Exhibit (10)(xviii) to the Company’s Form 10-K for the year ended December 31, 2016).*
10.19	The Boeing Company 2003 Incentive Stock Plan, as amended and restated effective October 31, 2016 (Exhibit (10)(xix)(a) to the Company’s Form 10-K for the year ended December 31, 2016).*
10.20	Form of Non-Qualified Stock Option Grant Notice of Terms (Exhibit (10)(xvii)(b) to the Company’s Form 10-K for the year ended December 31, 2010).*
10.21	Form of Notice of Terms of Performance-Based Restricted Stock Units (Exhibit 10.2 of the Company’s 10-Q for the quarter ended March 31, 2017).*
10.22	Form of Performance Award Notice (Exhibit 10.3 of the Company’s 10-Q for the quarter ended March 31, 2017).*
10.23	Form of Notice of Terms of Restricted Stock Units (Exhibit 10.1 to the Company’s 10-Q for the quarter ended March 31, 2017).*
10.24	Form of Notice of Terms of Supplemental Restricted Stock Units (Exhibit 10.1 to the Company’s Current Report on Form 8-K dated June 25, 2017).*

114

10.25	Form of Notice of Terms of Restricted Stock Units dated February 24, 2014 (Exhibit 10.1 to the Company’s Current Report on Form 8-K dated February 24, 2014).*
10.26	Form of Notice of Terms of Restricted Stock Units dated February 23, 2015. (Exhibit (10)(xviii)(i) to the Company’s Form 10-K for the year ended December 31, 2015).*
10.27	Notice of Terms of Restricted Stock Units (Exhibit 10.2 to the Company’s Current Report on Form 8-K dated June 22, 2015).*
12	Computation of Ratio of Earnings to Fixed Charges.
21	List of Company Subsidiaries.
23	Consent of Independent Registered Public Accounting Firm.
31.1	Certification of Chief Executive Officer pursuant to Section 302 of Sarbanes-Oxley Act of 2002.
31.2	Certification of Chief Financial Officer pursuant to Section 302 of Sarbanes-Oxley Act of 2002.
32.1	Certification of Chief Executive Officer pursuant to Section 906 of Sarbanes-Oxley Act of 2002.
32.2	Certification of Chief Financial Officer pursuant to Section 906 of Sarbanes-Oxley Act of 2002.
99.1	Commercial Program Method of Accounting (Exhibit (99)(i) to the Company’s Form 10-K for the year ended December 31, 1997).
101.INS	XBRL Instance Document
101.SCH	XBRL Taxonomy Extension Schema Document
101.CAL	XBRL Taxonomy Extension Calculation Linkbase Document
101.DEF	XBRL Taxonomy Extension Definition Linkbase Document
101.LAB	XBRL Taxonomy Extension Label Linkbase Document
101.PRE	XBRL Taxonomy Extension Presentation Linkbase Document

In accordance with Item 601(b)(4)(iii)(A) of Regulation S-K, copies of certain instruments defining the rights of holders of long-term debt of the Company are not filed herewith. Pursuant to this regulation, we hereby agree to furnish a copy of any such instrument to the SEC upon request.

Item 16. Form 10-K Summary

None

115

Signatures

Pursuant to the requirements of Section 13 of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized, on February 12, 2018.

	THE BOEING COMPANY
	(Registrant)
By:	/s/ Robert E. Verbeck
	Robert E. Verbeck – Senior Vice President, Finance and Corporate Controller

116

Pursuant to the requirements of the Securities Exchange Act of 1934, this report has been signed below by the following persons on behalf of the registrant and in the capacities indicated on February 12, 2018.

/s/ Dennis A. Muilenburg	/s/ Lynn J. Good
Dennis A. Muilenburg – Chairman, President and Chief Executive Officer	Lynn J. Good – Director
(Principal Executive Officer)
/s/ Gregory D. Smith	/s/ Lawrence W. Kellner
Gregory D. Smith – Chief Financial Officer and Executive Vice President, Enterprise Performance and Strategy	Lawrence W. Kellner – Director
(Principal Financial Officer)
/s/ Robert E. Verbeck	/s/ Caroline B. Kennedy
Robert E. Verbeck – Senior Vice President, Finance and Corporate Controller	Caroline B. Kennedy – Director
(Principal Accounting Officer)
/s/ Robert A. Bradway	/s/ Edward M. Liddy
Robert A. Bradway – Director	Edward M. Liddy – Director
/s/ David L. Calhoun	/s/ Susan C. Schwab
David L. Calhoun – Director	Susan C. Schwab – Director
/s/ Arthur D. Collins, Jr.	/s/ Ronald A. Williams
Arthur D. Collins, Jr. – Director	Ronald A. Williams – Director
/s/ Kenneth M. Duberstein	/s/ Mike S. Zafirovski
Kenneth M. Duberstein – Director	Mike S. Zafirovski – Director
/s/ Edmund P. Giambastiani, Jr.
Edmund P. Giambastiani, Jr. – Director

117

EX-12

EXHIBIT 12

Computation of Ratio of Earnings to Fixed Charges

The Boeing Company and Subsidiaries

(Dollars in millions)

	Years ended December 31,
	2017		2016		2015			2014		2013
Earnings before income taxes		$10,047		$5,568		$7,155			$7,137		$6,232
Fixed charges excluding capitalized interest	486		422		391			455		514
Amortization of previously capitalized interest	98		94		90			72		74
Net adjustment for earnings from affiliates	14		11		(34		)	7		13
Earnings available for fixed charges		$10,645		$6,095		$7,602			$7,671		$6,833
Fixed charges:
Interest and debt expense(1)		$430		$365		$339			$402		$461
Interest capitalized during the period	110		170		158			102		87
Rentals deemed representative of an interest factor	56		57		52			53		53
Total fixed charges		$596		$592		$549			$557		$601
Ratio of earnings to fixed charges	17.9		10.3		13.8			13.8		11.4

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

EX-21

EXHIBIT 21

The Boeing Company Subsidiaries

Name	Place of Incorporation
Astro Limited	Bermuda
Aviall Services, Inc.	Delaware
Aviall, Inc.	Delaware
BCC Equipment Leasing Corporation	Delaware
Boeing Aerostructures Australia Pty Limited	Australia
Boeing Aircraft Holding Company	Delaware
Boeing Australia Holdings Proprietary Limited	Australia
Boeing Canada Operations Ltd.	Canada
Boeing Capital Corporation	Delaware
Boeing CAS Holding GmbH	Germany
Boeing Commercial Aviation Services Europe Limited	United Kingdom
Boeing Defence Australia Ltd	Australia
Boeing Deutschland GmbH	Germany
Boeing European Holdings Limited	United Kingdom
Boeing Global Holdings Corporation	Delaware
Boeing Intellectual Property Licensing Company	Delaware
Boeing International Logistics Spares, Inc.	Delaware
Boeing Netherlands B.V.	Netherlands
Boeing Netherlands C.V.	Netherlands
Boeing Operations International, Incorporated	Delaware
Boeing Singapore PTE. Ltd.	Singapore
Insitu, Inc.	Washington
Jeppesen DataPlan, Inc.	Delaware
Jeppesen Deutschland GmbH	Germany
Jeppesen GmbH	Germany
Jeppesen Sanderson, Inc.	Delaware

In accordance with Item 601(b)(21) of Regulation S-K, the company has omitted from this Exhibit the names of its subsidiaries which, considered in the aggregate or as a single subsidiary, do not constitute a significant subsidiary as defined in Rule 1-02(w) of Regulation S-X.

EX-23

EXHIBIT 23

CONSENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

We consent to the incorporation by reference in Registration Statement Nos. 33-25332, 33-31434, 33-43854, 33-58798, 33-52773, 333-16363, 333-26867, 333-32461, 333-32491, 333-32499, 333-32567, 333-41920, 333-54234, 333-73252, 333-107677, 333-140837, 333-156403, 333-160752, 333-163637, and 333-195777 on Form S-8 and Registration Statement Nos. 333-219627 and 333-219630 on Form S-3 of our reports dated February 12, 2018, relating to the consolidated financial statements of The Boeing Company and subsidiaries (the “Company"), and the effectiveness of the Company’s internal control over financial reporting, appearing in this Annual Report on Form 10-K of the Company, for the year ended December 31, 2017.

/s/ Deloitte & Touche LLP

Chicago, Illinois

February 12, 2018

EX-31.1

EXHIBIT 31.1

CERTIFICATION PURSUANT TO

RULE 13a-14 OF THE SECURITIES EXCHANGE ACT OF 1934,

AS ADOPTED PURSUANT TO

SECTION 302 OF THE SARBANES-OXLEY ACT OF 2002

I, Dennis A. Muilenburg, certify that:

1. I have reviewed this annual report on Form 10-K of The Boeing Company;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4. The registrant’s other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

(a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

(b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

(c) Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

(d) Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

5. The registrant’s other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):

(a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and

(b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

Date: February 12, 2018

/s/ Dennis A. Muilenburg

Dennis A. Muilenburg

Chairman, President and Chief Executive Officer

EX-31.2

EXHIBIT 31.2

CERTIFICATION PURSUANT TO

RULE 13a-14 OF THE SECURITIES EXCHANGE ACT OF 1934,

AS ADOPTED PURSUANT TO

SECTION 302 OF THE SARBANES-OXLEY ACT OF 2002

I, Gregory D. Smith, certify that:

1. I have reviewed this annual report on Form 10-K of The Boeing Company;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4. The registrant’s other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

(a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

(b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

(c) Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

(d) Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

5. The registrant’s other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):

(a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and

(b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

Date: February 12, 2018

/s/ Gregory D. Smith

Gregory D. Smith

Chief Financial Officer and Executive Vice President, Enterprise Performance and Strategy

EX-32.1

EXHIBIT 32.1

CERTIFICATION PURSUANT TO

18 U.S.C. SECTION 1350,

AS ADOPTED PURSUANT TO

SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

In connection with the Annual Report of The Boeing Company (the “Company”) on Form 10-K for the period ending December 31, 2017, as filed with the Securities and Exchange Commission on the date hereof (the “Report”), I, Dennis A. Muilenburg, Chairman, President and Chief Executive Officer of the Company, certify, pursuant to 18 U.S.C. § 1350, as adopted pursuant to § 906 of the Sarbanes-Oxley Act of 2002, that:

(1) The Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934, as amended; and

(2) The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.

/s/ Dennis A. Muilenburg

Dennis A. Muilenburg

Chairman, President and Chief Executive Officer

February 12, 2018

EX-32.2

EXHIBIT 32.2

CERTIFICATION PURSUANT TO

18 U.S.C. SECTION 1350,

AS ADOPTED PURSUANT TO

SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

In connection with the Annual Report of The Boeing Company (the “Company”) on Form 10-K for the period ending December 31, 2017, as filed with the Securities and Exchange Commission on the date hereof (the “Report”), I, Gregory D. Smith, Chief Financial Officer and Executive Vice President, Enterprise Performance and Strategy of the Company, certify, pursuant to 18 U.S.C. § 1350, as adopted pursuant to § 906 of the Sarbanes-Oxley Act of 2002, that:

(1) The Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934, as amended; and

(2) The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.

/s/ Gregory D. Smith

Gregory D. Smith

Chief Financial Officer and Executive Vice President, Enterprise Performance and Strategy

February 12, 2018

XML

Document And Entity Information - USD ($) $ in Billions	12 Months Ended
	Dec. 31, 2017	Feb. 05, 2018	Jun. 30, 2017
Document and Entity Information [Abstract]
Document Type	10-K
Amendment Flag	false
Document Period End Date	Dec. 31, 2017
Document Fiscal Year Focus	2017
Document Fiscal Period Focus	FY
Entity Registrant Name	BOEING CO
Entity Central Index Key	0000012927
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Well-known Seasoned Issuer	Yes
Entity Common Stock, Shares Outstanding		588,490,313
Entity Public Float			$ 117.3

XML

Consolidated Statements Of Operations - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Income Statement [Abstract]
Sales of products	$ 83,204	$ 84,399	$ 85,255
Sales of services	10,188	10,172	10,859
Total revenues	93,392	94,571	96,114
Cost of products	(68,365)	(72,713)	(73,446)
Cost of services	(7,631)	(8,018)	(8,578)
Boeing Capital interest expense	(70)	(59)	(64)
Total costs and expenses	(76,066)	(80,790)	(82,088)
Gross profit	17,326	13,781	14,026
Income (Loss) from Investments	204	303	274
Income from operating investments, net	233	303	274
General and administrative expense	(4,094)	(3,616)	(3,525)
Research and development expense, net	(3,179)	(4,627)	(3,331)
Gain/(loss) on dispositions, net	21	(7)	(1)
Earnings from operations	10,278	5,834	7,443
Other income/(loss), net	129	40	(13)
Interest and debt expense	(360)	(306)	(275)
Earnings before income taxes	10,047	5,568	7,155
Income tax expense	(1,850)	(673)	(1,979)
Net earnings	$ 8,197	$ 4,895	$ 5,176
Basic earnings per share	$ 13.60	$ 7.70	$ 7.52
Diluted earnings/(loss) per share	$ 13.43	$ 7.61	$ 7.44

XML

Consolidated Statements of Comprehensive Income - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Net earnings	$ 8,197	$ 4,895	$ 5,176
Currency translation adjustments	128	(104)	(92)
Other Comprehensive Income (Loss), Available-for-sale Securities Adjustment, Net of Tax of ($1), $1, and ($5)	1	(2)	8
Unrealized gain/(loss) on derivative instruments:
Unrealized gain/(loss) arising during period, net of tax of ($66), $4 and $77	119	(8)	(140)
Reclassification adjustment for loss included in net earnings, net of tax of ($28), ($43) and ($43)	52	78	79
Total unrealized gain/(loss) on derivative instruments, net of tax	171	70	(61)
Defined benefit pension plans & other postretirement benefits:
Net actuarial loss arising during the period, net of tax of $248, $752 and $402	(495)	(1,365)	(732)
Amortization of actuarial losses included in net periodic pension cost, net of tax of ($272), ($288) and ($570)	542	524	1,038
Settlements and curtailments included in net income, net of tax of $0, ($7) and ($27)		14	51
Pension and postretirement (cost)/benefit related to our equity method investments, net of tax $5, ($7) and ($2)	(11)	12	3
Amortization of prior service (credits)/cost included in net periodic pension cost, net of tax of $59, $31 and ($22)	(117)	(57)	38
Prior service cost arising during the period, net of tax of ($14), ($18) and ($496)	28	33	902
Total defined benefit pension plans & other postretirement benefits, net of tax	(53)	(839)	1,300
Other comprehensive income/(loss), net of tax	247	(875)	1,155
Comprehensive loss related to noncontrolling interests	(2)	(1)	(3)
Comprehensive income, net of tax	$ 8,442	$ 4,019	$ 6,328

XML

Consolidated Statements of Comprehensive Income (Parenthetical) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Statement of Comprehensive Income [Abstract]
Unrealized gain on certain investments, tax	$ (1)	$ 1	$ (5)
Unrealized (loss)/gain on derivative instruments:
Unrealized loss arising during period, tax	(66)	4	77
Reclassification adjustment for loss/(gain) included in net earnings, tax	(28)	(43)	(43)
Defined benefit pension plans & other postretirement benefits:
Net actuarial gain/(loss) arising during the period, tax	248	752	402
Amortization of actuarial losses included in net periodic pension cost, tax	(272)	(288)	(570)
Settlements and curtailments included in net income, tax		(7)	(27)
Pension and post retirement benefits related to our equity method investments, tax	5	(7)	(2)
Amortization of prior service cost included in net periodic pension cost, tax	59	31	(22)
Prior service cost arising during the period, tax	$ (14)	$ (18)	$ (496)

XML

Consolidated Statements Of Financial Position - USD ($) $ in Millions		Dec. 31, 2017	Dec. 31, 2016
Assets
Cash and cash equivalents		$ 8,813	$ 8,801
Short-term and other investments		1,179	1,228
Accounts receivable, net		10,516	8,832
Current portion of customer financing, net		309	428
Inventories, net of advances and progress billings		44,344	43,199
Total current assets		65,161	62,488
Customer financing, net		2,740	3,773
Property, plant and equipment, net		12,672	12,807
Goodwill		5,559	5,324
Acquired intangible assets, net		2,573	2,540
Deferred income taxes		341	332
Investments		1,260	1,317
Other assets, net of accumulated amortization of $482 and $497		2,027	1,416
Total assets		92,333	89,997
Liabilities and equity
Accounts payable		12,202	11,190
Accrued liabilities		15,292	14,691
Advances and billings in excess of related costs		27,440	23,869
Short-term debt and current portion of long-term debt		1,335	384
Total current liabilities		56,269	50,134
Deferred income taxes		1,839	1,338
Accrued retiree health care		5,545	5,916
Accrued pension plan liability, net		16,471	19,943
Other long-term liabilities		2,015	2,221
Long-term debt		9,782	9,568
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		6,804	4,762
Treasury stock, at cost		(43,454)	(36,097)
Retained earnings		45,320	40,714
Accumulated other comprehensive loss	[1]	(13,376)	(13,623)
Total shareholders’ equity		355	817
Noncontrolling interests		57	60
Total equity		412	877
Total liabilities and equity		$ 92,333	$ 89,997

[1] Net of tax.

XML

Consolidated Statements Of Financial Position (Parenthetical) - USD ($) $ in Millions	Dec. 31, 2017	Dec. 31, 2016
Statement of Financial Position [Abstract]
Other assets, accumulated amortization	$ 482	$ 497
Common stock, par value	$ 5.00	$ 5.00
Common stock, authorized	1,200,000,000	1,200,000,000
Common stock, shares issued	1,012,261,159.000000	1,012,261,159.000000

XML

Consolidated Statements Of Cash Flows - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Cash flows - operation activities:
Net earnings	$ 8,197	$ 4,895	$ 5,176
Non-cash items -
Share-based plans expense	202	190	189
Depreciation and amortization	2,069	1,910	1,833
Investment/asset impairment charges, net	113	90	167
Customer financing valuation cost/(benefit)	2	(7)	(5)
(Gain)/Loss on dispositions, net	(21)	7	1
Other charges and credits, net	287	369	364
Excess tax benefits from share-based payment arrangements			157
Changes in assets and liabilities –
Accounts receivable	(1,821)	112	(1,069)
Inventories, net of advances and progress billings	(1,085)	3,755	(1,110)
Accounts payable	130	622	(238)
Accrued liabilities	573	726	2
Advances and billings in excess of related costs	3,570	(493)	1,192
Income taxes receivable, payable and deferred	857	(810)	477
Other long-term liabilities	94	(68)	46
Pension and other postretirement plans	(582)	153	2,470
Customer financing, net	1,017	(696)	167
Other	(258)	(256)	(142)
Net cash provided by operating activities	13,344	10,499	9,363
Cash flows - investing activities:
Property, plant and equipment additions	(1,739)	(2,613)	(2,450)
Property, plant and equipment reductions	92	38	42
Acquisitions, net of cash acquired	(324)	(297)	(31)
Contributions to investments	(3,601)	(1,719)	(2,036)
Proceeds from investments	3,639	1,209	2,590
Purchase of distribution rights	131
Other	2	2	39
Net cash used by investing activities	(2,062)	(3,380)	(1,846)
Cash flows - financing activities
New borrowings	2,077	1,325	1,746
Debt repayments	(953)	(1,359)	(885)
Repayments of distribution rights and other asset financing		(24)
Stock options exercised	311	321	399
Excess Tax Benefit from Share-based Compensation, Financing Activities			157
Employee taxes on certain share-based payment arrangements	(132)	(93)	(96)
Common shares repurchased	(9,236)	(7,001)	(6,751)
Dividends paid	(3,417)	(2,756)	(2,490)
Net cash used by financing activities	(11,350)	(9,587)	(7,920)
Effect of exchange rate changes on cash and cash equivalents	80	(33)	(28)
Net decrease in cash and cash equivalents	12	(2,501)	(431)
Cash and cash equivalents at beginning of year	8,801	11,302	11,733
Cash and cash equivalents at end of year	$ 8,813	$ 8,801	$ 11,302

XML

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]
Beginning Balance at Dec. 31, 2014	$ 8,790	$ 5,061	$ 4,625	$ (23,298)	$ 36,180	$ (13,903)	$ 125
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net earnings	5,173				5,176		(3)
Other Comprehensive Income (Loss), Portion Attributable to Parent, net of tax of ($69) in 2017, $425 in 2016, and ($686) in 2015	1,155					1,155
Share-based compensation and related dividend equivalents	189		214		(25)
Excess tax pools	158		158
Treasury shares issued for stock options exercised, net	399		(29)	428
Treasury shares issued for other share-based plans, net	(81)		(134)	53
Common shares repurchased	(6,751)			(6,751)
Cash dividends declared of $5.97 per share in 2017, $4.69 per share in 2016, and $3.82 per share in 2015	(2,575)				(2,575)
Changes in noncontrolling interests	(60)						(60)
Ending Balance at Dec. 31, 2015	6,397	5,061	4,834	(29,568)	38,756	(12,748)	62
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net earnings	4,894				4,895		(1)
Other Comprehensive Income (Loss), Portion Attributable to Parent, net of tax of ($69) in 2017, $425 in 2016, and ($686) in 2015	(875)					(875)
Share-based compensation and related dividend equivalents	209		244		(35)
Excess tax pools	(84)		(84)
Treasury shares issued for stock options exercised, net	320		(63)	383
Treasury shares issued for other share-based plans, net	(80)		(169)	89
Common shares repurchased	(7,001)			(7,001)
Cash dividends declared of $5.97 per share in 2017, $4.69 per share in 2016, and $3.82 per share in 2015	(2,902)				(2,902)
Changes in noncontrolling interests	(1)						(1)
Ending Balance at Dec. 31, 2016	877	5,061	4,762	(36,097)	40,714	(13,623)	60
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net earnings	8,195				8,197		(2)
Other Comprehensive Income (Loss), Portion Attributable to Parent, net of tax of ($69) in 2017, $425 in 2016, and ($686) in 2015	247					247
Share-based compensation and related dividend equivalents	203		238		(35)
Treasury shares issued for stock options exercised, net	311		(88)	399
Treasury shares issued for other share-based plans, net	(128)		(190)	62
Treasury shares contributed to pension plans	3,500		2,082	1,418
Common shares repurchased	(9,236)			(9,236)
Cash dividends declared of $5.97 per share in 2017, $4.69 per share in 2016, and $3.82 per share in 2015	(3,556)				(3,556)
Changes in noncontrolling interests	(1)						(1)
Ending Balance at Dec. 31, 2017	$ 412	$ 5,061	$ 6,804	$ (43,454)	$ 45,320	$ (13,376)	$ 57

XML

Consolidated Statements Of Equity (Parenthetical) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Statement of Stockholders' Equity [Abstract]
Other Comprehensive Income (loss), Tax	$ (69)	$ 425	$ (686)
Cash dividends declared, per share	$ 5.97	$ 4.69	$ 3.82

XML

Summary of Business Segment Data (Notes)

12 Months Ended

Dec. 31, 2017

Segment Reporting, Disclosure of Entity's Reportable Segments [Abstract]

Summary Of Business Segment Data

The Boeing Company and Subsidiaries

Notes to the Consolidated Financial Statements

Summary of Business Segment Data

(Dollars in millions)
Years ended December 31,	2017			2016			2015
Revenues:
Commercial Airplanes		$56,729			$58,012			$59,399
Defense, Space & Security	21,057			22,563			23,708
Global Services	14,639			13,925			13,293
Boeing Capital	307			298			413
Unallocated items, eliminations and other	660			(227		)	(699		)
Total revenues		$93,392			$94,571			$96,114
Earnings from operations:
Commercial Airplanes		$5,432			$1,995			$4,284
Defense, Space & Security	2,223			1,966			2,312
Global Services	2,256			2,177			1,835
Boeing Capital	114			59			50
Segment operating profit	10,025			6,197			8,481
Unallocated items, eliminations and other	253			(363		)	(1,038		)
Earnings from operations	10,278			5,834			7,443
Other income/(loss), net	129			40			(13		)
Interest and debt expense	(360		)	(306		)	(275		)
Earnings before income taxes	10,047			5,568			7,155
Income tax expense	(1,850		)	(673		)	(1,979		)
Net earnings		$8,197			$4,895			$5,176

This information is an integral part of the Notes to the Consolidated Financial Statements. See Note 21 for further segment results.

XML

Summary Of Significant Accounting Policies

12 Months Ended

Dec. 31, 2017

Accounting Policies [Abstract]

Summary Of Significant Accounting Policies

Summary of Significant Accounting Policies

Principles of Consolidation and Basis of Presentation

The Consolidated 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”). These statements include the accounts of all majority-owned subsidiaries and variable interest entities that are required to be consolidated. All significant intercompany accounts and transactions have been eliminated. As described in Note 21, effective July 1, 2017, we now operate in four reportable segments: Commercial Airplanes (BCA); Defense, Space & Security (BDS), Global Services (BGS), and Boeing Capital (BCC). Amounts in prior periods have been reclassified to conform to the current year presentation.

Use of Estimates

Management makes assumptions and estimates to prepare financial statements in conformity with accounting principles generally accepted in the United States of America. Those assumptions and estimates directly affect the amounts reported in the Consolidated Financial Statements. Significant estimates for which changes in the near term are considered reasonably possible and that may have a material impact on the financial statements are disclosed in these Notes to the Consolidated Financial Statements.

Operating Cycle

For classification of certain current assets and liabilities, we use the duration of the related contract or program as our operating cycle, which is generally longer than one year.

Revenue and Related Cost Recognition

Contract Accounting Contract accounting is used for development and production activities predominantly by BDS and for defense contracts at BGS. The majority of these activities are performed under contracts with the U.S. government and other customers that extend over several years. Contract accounting involves a judgmental process of estimating total sales and costs for each contract resulting in the development of estimated cost of sales percentages. For each contract, the amount reported as cost of sales is determined by applying the estimated cost of sales percentage to the amount of revenue recognized. When the current estimates of total sales and costs for a contract indicate a loss, a provision for the entire loss on the contract is recognized.

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 contract’s percent complete. Net cumulative catch-up adjustments to prior years’ earnings, including reach-forward losses, across all contracts were as follows:

	2017		2016			2015
Increase/(decrease) to Earnings from Operations		$14		($912	)		($224	)
Increase/(decrease) to Diluted EPS		$0.02		($1.25	)		($0.23	)

Significant adjustments during the three years ended December 31, 2017 included reach-forward losses of $471, $1,128 and $835 on the USAF KC-46A Tanker contract recorded during 2017, 2016 and 2015.

We combine contracts for accounting purposes when they are negotiated as a package with an overall profit margin objective. These essentially represent an agreement to do a single project for a single customer, involve interrelated construction activities with substantial common costs, and are performed concurrently or sequentially. When a group of contracts is combined, revenue and profit are earned uniformly over the performance of the combined contracts. Similarly, we may segment a single contract or group of contracts when a clear economic decision has been made during contract negotiations that would produce different rates of profitability for each element or phase of the contract.

Sales related to fixed-price contracts are recognized as deliveries are made, except for certain fixed-price contracts that require substantial performance over an extended period before deliveries begin, for which sales are recorded based on the attainment of performance milestones. Sales related to contracts in which we are reimbursed for costs incurred plus an agreed upon profit are recorded as costs are incurred. The Federal Acquisition Regulations provide guidance on the types of cost that will be reimbursed in establishing contract price. Contracts may contain provisions to earn incentive and award fees if specified targets are achieved. Incentive and award fees that can be reasonably estimated and are probable are recorded over the performance period of the contract. Incentive and award fees that cannot be reasonably estimated are recorded when awarded.

Program Accounting Our Commercial Airplanes segment uses program accounting to account for cost of sales related to its programs. Program accounting is applicable to products manufactured for delivery under production-type contracts where profitability is realized over multiple contracts and years. Under program accounting, inventoriable production costs, program tooling and other non-recurring costs, and warranty costs are accumulated and charged to cost of sales by program instead of by individual units or contracts. A program consists of the estimated number of units (accounting quantity) of a product to be produced in a continuing, long-term production effort for delivery under existing and anticipated contracts. The determination of the accounting quantity is limited by the ability to make reasonably dependable estimates of the revenue and cost of existing and anticipated contracts. To establish the relationship of sales to cost of sales, program accounting requires estimates of (a) the number of units to be produced and sold in a program, (b) the period over which the units can reasonably be expected to be produced, and (c) the units’ expected sales prices, production costs, program tooling and other non-recurring costs, and routine warranty costs for the total program.

We recognize sales for commercial airplane deliveries as each unit is completed and accepted by the customer. Sales recognized represent the price negotiated with the customer, adjusted by an escalation formula as specified in the customer agreement. The amount reported as cost of sales is determined by applying the estimated cost of sales percentage for the total remaining program to the amount of sales recognized for airplanes delivered and accepted by the customer. Changes in estimated revenues, cost of sales and the related effects on program margins are recognized prospectively except in cases where the program is determined to have a reach-forward loss in which case the loss is recognized in the current period. Reductions to a reach-forward loss are spread over all undelivered units in the accounting quantity, whereas increases to the estimated loss are recorded immediately. See Note 11.

Concession Sharing Arrangements We account for sales concessions to our customers in consideration of their purchase of products and services as a reduction to revenue when the related products and services are delivered. The sales concessions incurred may be partially reimbursed by certain suppliers in accordance with concession sharing arrangements. We record these reimbursements, which are presumed to represent reductions in the price of the vendor’s products or services, as a reduction in Cost of products.

Spare Parts Revenue We recognize sales of spare parts upon delivery and the amount reported as cost of sales is recorded at average cost.

Service Revenue Service revenue is recognized when the service is performed with the exception of U.S. government service agreements, which are accounted for using contract accounting. Service activities primarily include: support agreements associated with military aircraft and helicopter contracts, space travel on Commercial Crew, ongoing maintenance of International Space Station, military and commercial aircraft training contracts, fleet care, and technical and flight operation services for commercial aircraft. Service revenue and associated cost of sales from pay-in-advance subscription fees are deferred and recognized as services are rendered.

Financial Services Revenue We record financial services revenue associated with sales-type/finance leases, operating leases, and notes receivable.

Lease and financing revenue arrangements are included in Sales of services on the Consolidated Statements of Operations. For sales-type/finance leases, we record an asset at lease inception. This asset is recorded at the aggregate of future minimum lease payments, estimated residual value of the leased equipment, and deferred incremental direct costs less unearned income. Income is recognized over the life of the lease to approximate a level rate of return on the net investment. Residual values, which are reviewed periodically, represent the estimated amount we expect to receive at lease termination from the disposition of the leased equipment. Actual residual values realized could differ from these estimates. Declines in estimated residual value that are deemed other-than-temporary are recognized in the period in which the declines occur.

For operating leases, revenue on leased aircraft and equipment is recorded on a straight-line basis over the term of the lease. Operating lease assets, included in Customer financing, are recorded at cost and depreciated over the period that we project we will hold the asset to an estimated residual value, using the straight-line method. We periodically review our estimates of residual value and recognize forecasted changes by prospectively adjusting depreciation expense.

For notes receivable, notes are recorded net of any unamortized discounts and deferred incremental direct costs. Interest income and amortization of any discounts are recorded ratably over the related term of the note.

Reinsurance Revenue Our wholly-owned insurance subsidiary, Astro Ltd., participates in a reinsurance pool for workers’ compensation. The member agreements and practices of the reinsurance pool minimize any participating members’ individual risk. Reinsurance revenues were $141, $147 and $136 during 2017, 2016 and 2015, respectively. Reinsurance costs related to premiums and claims paid to the reinsurance pool were $144, $139 and $132 during 2017, 2016 and 2015, respectively. Revenues and costs are presented net in Cost of sales in the Consolidated Statements of Operations.

Fleet Support

We provide assistance and support to facilitate efficient and safe aircraft operation to the operators of all our commercial airplane models. Collectively known as fleet support, these activities and support services include flight and maintenance training, field service support, engineering support, and technical data and documents. Fleet support activity begins prior to aircraft delivery as the customer receives training, manuals, and technical consulting support. This activity continues throughout the aircraft’s operational life. Services provided after delivery include field service support, consulting on maintenance, repair, and operational issues brought forth by the customer or regulators, updating manuals and engineering data, and the issuance of service bulletins that impact the entire model’s fleet. Field service support involves our personnel located at customer facilities providing and coordinating fleet support activities and requests. The costs for fleet support are expensed as incurred as Cost of services.

Research and Development

Research and development includes costs incurred for experimentation, design, and testing, as well as bid and proposal efforts related to government products and services which are expensed as incurred unless the costs are related to certain contractual arrangements with customers. Costs that are incurred pursuant to such contractual arrangements are recorded over the period that revenue is recognized, consistent with our contract accounting policy. We have certain research and development arrangements that meet the requirement for best efforts research and development accounting. Accordingly, the amounts funded by the customer are recognized as an offset to our research and development expense rather than as contract revenues. Research and development expense included bid and proposal costs of $288, $311 and $286 in 2017, 2016 and 2015, respectively.

Share-Based Compensation

We provide various forms of share-based compensation to our employees. For awards settled in shares, we measure compensation expense based on the grant-date fair value net of estimated forfeitures. For awards settled in cash, or that may be settled in cash, we measure compensation expense based on the fair value at each reporting date net of estimated forfeitures. The expense is recognized over the requisite service period, which is generally the vesting period of the award.

Income Taxes

Provisions for U.S. federal, state and local, and non-U.S. income taxes are calculated on reported Earnings before income taxes based on current tax law and also include, in the current period, the cumulative effect of any changes in tax rates from those used previously in determining deferred tax assets and liabilities. Such provisions differ from the amounts currently receivable or payable because certain items of income and expense are recognized in different time periods for financial reporting purposes than for income tax purposes. Significant judgment is required in determining income tax provisions and evaluating tax positions.

The accounting for uncertainty in income taxes requires a more-likely-than-not threshold for financial statement recognition and measurement of tax positions taken or expected to be taken in a tax return. We record a liability for the difference between the benefit recognized and measured for financial statement purposes and the tax position taken or expected to be taken on our tax return. To the extent that our assessment of such tax positions changes, the change in estimate is recorded in the period in which the determination is made. Tax-related interest and penalties are classified as a component of Income tax expense.

Postretirement Plans

The majority of our employees have earned benefits under defined benefit pension plans. Nonunion and the majority of union employees that had participated in defined benefit pension plans transitioned to a company-funded defined contribution retirement savings plan in 2016. We also provide postretirement benefit plans other than pensions, consisting principally of health care coverage to eligible retirees and qualifying dependents. Benefits under the pension and other postretirement benefit plans are generally based on age at retirement and years of service and, for some pension plans, benefits are also based on the employee’s annual earnings. The net periodic cost of our pension and other postretirement plans is determined using the projected unit credit method and several actuarial assumptions, the most significant of which are the discount rate, the long-term rate of asset return, and medical trend (rate of growth for medical costs). A portion of net periodic pension and other postretirement income or expense is not recognized in net earnings in the year incurred because it is allocated to production as product costs, and reflected in inventory at the end of a reporting period. Actuarial gains and losses, which occur when actual experience differs from actuarial assumptions, are reflected in Shareholders’ equity (net of taxes). If actuarial gains and losses exceed ten percent of the greater of plan assets or plan liabilities we amortize them over the average future service period of employees. The funded status of our pension and postretirement plans is reflected on the Consolidated Statements of Financial Position.

Postemployment Plans

We record a liability for postemployment benefits, such as severance or job training, when payment is probable, the amount is reasonably estimable, and the obligation relates to rights that have vested or accumulated.

Environmental Remediation

We are subject to federal and state requirements for protection of the environment, including those for discharge of hazardous materials and remediation of contaminated sites. We routinely assess, based on in-depth studies, expert analyses and legal reviews, our contingencies, obligations, and commitments for remediation of contaminated sites, including assessments of ranges and probabilities of recoveries from other responsible parties and/or insurance carriers. Our policy is to accrue and charge to current expense identified exposures related to environmental remediation sites when it is probable that a liability has been incurred and the amount can be reasonably estimated. The amount of the liability is based on our best estimate or the low end of a range of reasonably possible exposure for investigation, cleanup, and monitoring costs to be incurred. Estimated remediation costs are not discounted to present value as the timing of payments cannot be reasonably estimated. We may be able to recover a portion of the remediation costs from insurers or other third parties. Such recoveries are recorded when realization of the claim for recovery is deemed probable.

Cash and Cash Equivalents

Cash and cash equivalents consist of highly liquid instruments, such as commercial paper, time deposits, and other money market instruments, which have original maturities of three months or less. We aggregate our cash balances by bank where conditions for right of set-off are met, and reclassify any negative balances, consisting mainly of uncleared checks, to Accounts payable. Negative balances reclassified to Accounts payable were $116 and $77 at December 31, 2017 and 2016.

Inventories

Inventoried costs on commercial aircraft programs and long-term contracts include direct engineering, production and tooling and other non-recurring costs, and applicable overhead, which includes fringe benefits, production related indirect and plant management salaries and plant services, not in excess of estimated net realizable value. To the extent a material amount of such costs are related to an abnormal event or are fixed costs not appropriately attributable to our programs or contracts, they are expensed in the current period rather than inventoried. Inventoried costs include amounts relating to programs and contracts with long-term production cycles, a portion of which is not expected to be realized within one year. Included in inventory for federal government contracts is an allocation of allowable costs related to manufacturing process reengineering.

Commercial aircraft programs inventory includes deferred production costs and supplier advances. Deferred production costs represent actual costs incurred for production of early units that exceed the estimated average cost of all units in the program accounting quantity. Higher production costs are experienced at the beginning of a new or derivative airplane program. Units produced early in a program require substantially more effort (labor and other resources) than units produced later in a program because of volume efficiencies and the effects of learning. We expect that these deferred costs will be fully recovered when all units included in the accounting quantity are delivered as the expected unit cost for later deliveries is below the estimated average cost of all units in the program. Supplier advances represent payments for parts we have contracted to receive from suppliers in the future. As parts are received, supplier advances are amortized to work in process.

The determination of net realizable value of long-term contract costs is based upon quarterly reviews that estimate costs to be incurred to complete all contract requirements. When actual contract costs and the estimate to complete exceed total estimated contract revenues, a loss provision is recorded. The determination of net realizable value of commercial aircraft program costs is based upon quarterly program reviews that estimate revenue and cost to be incurred to complete the program accounting quantity. When estimated costs to complete exceed estimated program revenues to go, a program loss provision is recorded in the current period for the estimated loss on all undelivered units in the accounting quantity.

Used aircraft purchased by the Commercial Airplanes segment and general stock materials are stated at cost not in excess of net realizable value. See ‘Aircraft Valuation’ within this Note for a discussion of our valuation of used aircraft. Spare parts inventory is stated at lower of average unit cost or net realizable value. We review our commercial spare parts and general stock materials quarterly to identify impaired inventory, including excess or obsolete inventory, based on historical sales trends, expected production usage, and the size and age of the aircraft fleet using the part. Impaired inventories are charged to Cost of products in the period the impairment occurs.

Included in inventory for commercial aircraft programs are amounts paid or credited in cash, or other consideration to certain airline customers, that are referred to as early issue sales consideration. Early issue sales consideration is recognized as a reduction to revenue when the delivery of the aircraft under contract occurs. If an airline customer does not perform and take delivery of the contracted aircraft, we believe that we would have the ability to recover amounts paid. However, to the extent early issue sales consideration exceeds advances and is not considered to be otherwise recoverable, it would be written off in the current period.

We net advances and progress billings on long-term contracts against inventory in the Consolidated Statements of Financial Position. Advances and progress billings in excess of related inventory are reported in Advances and billings in excess of related costs.

Precontract Costs

We may, from time to time, incur costs in excess of the amounts required for existing contracts. If we determine the costs are probable of recovery from future orders, then we capitalize the precontract costs we incur, excluding start-up costs which are expensed as incurred. Capitalized precontract costs are included in Inventories, net of advances and progress billings, in the accompanying Consolidated Statements of Financial Position. Should future orders not materialize or we determine the costs are no longer probable of recovery, the capitalized costs would be written off.

Property, Plant and Equipment

Property, plant and equipment are recorded at cost, including applicable construction-period interest, less accumulated depreciation and are depreciated principally over the following estimated useful lives: new buildings and land improvements, from 10 to 40 years; and new machinery and equipment, from 4 to 20 years. The principal methods of depreciation are as follows: buildings and land improvements, 150% declining balance; and machinery and equipment, sum-of-the-years’ digits. Capitalized internal use software is included in Other assets and amortized using the straight line method over 5 years. We periodically evaluate the appropriateness of remaining depreciable lives assigned to long-lived assets, including assets that may be subject to a management plan for disposition.

Long-lived assets held for sale are stated at the lower of cost or fair value less cost to sell. Long-lived assets held for use are subject to an impairment assessment whenever events or changes in circumstances indicate that the carrying amount may not be recoverable. If the carrying value is no longer recoverable based upon the undiscounted future cash flows of the asset, the amount of the impairment is the difference between the carrying amount and the fair value of the asset.

Asset Retirement Obligations

We record all known asset retirement obligations for which the liability’s fair value can be reasonably estimated, including certain asbestos removal, asset decommissioning and contractual lease restoration obligations. Recorded amounts are not material.

We also have known conditional asset retirement obligations, such as certain asbestos remediation and asset decommissioning activities to be performed in the future, that are not reasonably estimable due to insufficient information about the timing and method of settlement of the obligation. Accordingly, these obligations have not been recorded in the Consolidated Financial Statements. A liability for these obligations will be recorded in the period when sufficient information regarding timing and method of settlement becomes available to make a reasonable estimate of the liability’s fair value. In addition, there may be conditional asset retirement obligations that we have not yet discovered (e.g., asbestos may exist in certain buildings but we have not become aware of it through the normal course of business), and therefore, these obligations also have not been included in the Consolidated Financial Statements.

Goodwill and Other Acquired Intangibles

Goodwill and other acquired intangible assets with indefinite lives are not amortized, but are tested for impairment annually and when an event occurs or circumstances change such that it is more likely than not that an impairment may exist. Our annual testing date is April 1.

We test goodwill for impairment by performing a qualitative assessment or using a two-step impairment process. If we choose to perform a qualitative assessment and determine it is more likely than not that the carrying value of the net assets is more than the fair value of the related operations, the two-step impairment process is then performed; otherwise, no further testing is required. For operations where the two-step impairment process is used, we first compare the carrying value of net assets to the fair value of the related operations. If the fair value is determined to be less than carrying value, a second step is performed to compute the amount of the impairment. In this process, a fair value for goodwill is estimated, based in part on the fair value of the operations, and is compared to its carrying value. The shortfall of the fair value below carrying value represents the amount of goodwill impairment.

Indefinite-lived intangibles consist of brand and trade names acquired in business combinations. We test these intangibles for impairment by comparing their carrying value to current projections of discounted cash flows attributable to the brand and trade names. Any excess carrying value over the amount of discounted cash flows represents the amount of the impairment.

Our finite-lived acquired intangible assets are amortized on a straight-line basis over their estimated useful lives as follows: developed technology, from 4 to 14 years; product know-how, from 3 to 30 years; customer base, from 3 to 17 years; distribution rights, from 3 to 27 years; and other, from 2 to 32 years. We evaluate the potential impairment of finite-lived acquired intangible assets whenever events or changes in circumstances indicate that the carrying amount may not be recoverable. If the carrying value is no longer recoverable based upon the undiscounted future cash flows of the asset, the amount of the impairment is the difference between the carrying amount and the fair value of the asset.

Investments

Time deposits are held-to-maturity investments that are carried at cost.

Available-for-sale securities include commercial paper, U.S. government agency securities, and corporate debt securities. Available-for-sale securities are recorded at fair value, and unrealized gains and losses are recorded, net of tax, as a component of accumulated other comprehensive income. Realized gains and losses on available-for-sale securities are recognized based on the specific identification method. Available-for-sale securities are assessed for impairment quarterly.

The equity method of accounting is used to account for investments for which we have the ability to exercise significant influence, but not control, over an investee. Significant influence is generally deemed to exist if we have an ownership interest in the voting stock of an investee of between 20% and 50%.

We classify investment income and loss on our Consolidated Statements of Operations based on whether the investment is operating or non-operating in nature. Operating investments align strategically and are integrated with our operations. Earnings from operating investments, including our share of income or loss from equity method investments, dividend income from certain cost method investments, and any impairments or gain/loss on the disposition of these investments, are recorded in Income from operating investments, net. Non-operating investments are those we hold for non-strategic purposes. Earnings from non-operating investments, including interest and dividends on marketable securities, and any impairments or gain/loss on the disposition of these investments are recorded in Other income/(expense), net.

Derivatives

All derivative instruments are recognized in the financial statements and measured at fair value regardless of the purpose or intent of holding them. We use derivative instruments to principally manage a variety of market risks. For derivatives designated as hedges of the exposure to changes in fair value of the recognized asset or liability or a firm commitment (referred to as fair value hedges), the gain or loss is recognized in earnings in the period of change together with the offsetting loss or gain on the hedged item attributable to the risk being hedged. The effect of that accounting is to include in earnings the extent to which the hedge is not effective in achieving offsetting changes in fair value. For our cash flow hedges, the effective portion of the derivative’s gain or loss is initially reported in comprehensive income and is subsequently reclassified into earnings in the same period or periods during which the hedged forecasted transaction affects earnings. The ineffective portion of the gain or loss of a cash flow hedge is reported in earnings immediately. We have agreements to purchase and sell aluminum to address long-term strategic sourcing objectives and international business requirements. These agreements are derivatives for accounting purposes but are not designated for hedge accounting treatment. We also hold certain derivative instruments for economic purposes that are not designated for hedge accounting treatment. For these aluminum agreements and for other derivative instruments not designated for hedge accounting treatment, the changes in their fair value are recorded in earnings immediately.

Aircraft Valuation

Used aircraft under trade-in commitments and aircraft under repurchase commitments In conjunction with signing a definitive agreement 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. Additionally, we have entered into contingent repurchase commitments with certain customers wherein we agree to repurchase the Sale Aircraft at a specified price, generally 10 to 15 years after delivery of the Sale Aircraft. Our repurchase of the Sale Aircraft is contingent upon a future, mutually acceptable agreement for the sale of additional new aircraft. If we execute an agreement for the sale of additional new aircraft, and if the customer exercises its right to sell the Sale Aircraft to us, a contingent repurchase commitment would become a trade-in commitment. Our historical experience is that contingent repurchase commitments infrequently become trade-in commitments.

Exposure related to trade-in commitments may take the form of:

(1) adjustments to revenue for the difference between the contractual trade-in price in the definitive agreement and our best estimate of the fair value of the trade-in aircraft as of the date of such agreement, which would be recognized upon delivery of the Sale Aircraft, and/or

(2) charges to cost of products for adverse changes in the fair value of trade-in aircraft that occur subsequent to signing of a definitive agreement for Sale Aircraft but prior to the purchase of the used trade-in aircraft. Estimates based on current aircraft values would be included in Accrued liabilities.

The fair value of trade-in aircraft is determined using aircraft-specific data such as model, age and condition, market conditions for specific aircraft and similar models, and multiple valuation sources. This process uses our assessment of the market for each trade-in aircraft, which in most instances begins years before the return of the aircraft. There are several possible markets in which we continually pursue opportunities to place used aircraft. These markets include, but are not limited to, the resale market, which could potentially include the cost of long-term storage; the leasing market, with the potential for refurbishment costs to meet the leasing customer’s requirements; or the scrap market. Trade-in aircraft valuation varies significantly depending on which market we determine is most likely for each aircraft. On a quarterly basis, we update our valuation analysis based on the actual activities associated with placing each aircraft into a market or using current published third-party aircraft valuations based on the type and age of the aircraft, adjusted for individual attributes and known conditions.

Used aircraft acquired by the Commercial Airplanes segment are included in Inventories at the lower of cost or net realizable value as it is our intent to sell these assets. To mitigate costs and enhance marketability, aircraft may be placed on operating lease. While on operating lease, the assets are included in Customer financing.

Customer financing Customer financing includes operating lease equipment, notes receivable, and sales-type/finance leases. Sales-type/finance leases are treated as receivables, and allowances for losses are established as necessary.

We assess the fair value of the assets we own, including equipment under operating leases, assets held for sale or re-lease, and collateral underlying receivables, to determine if their fair values are less than the related assets’ carrying values. Differences between carrying values and fair values of sales-type/finance leases and notes and other receivables, as determined by collateral value, are considered in determining the allowance for losses on receivables.

We use a median calculated from published collateral values from multiple third-party aircraft value publications based on the type and age of the aircraft to determine the fair value of aircraft. Under certain circumstances, we apply judgment based on the attributes 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 outside publications.

Impairment review for assets under operating leases and held for sale or re-lease We evaluate for impairment assets under operating lease or assets held for sale or re-lease when events or changes in circumstances indicate that the expected undiscounted cash flow from the asset may be less than the carrying value. We use various assumptions when determining the expected undiscounted cash flow, including our intentions for how long we will hold an asset subject to operating lease before it is sold, the expected future lease rates, lease terms, residual value of the asset, periods in which the asset may be held in preparation for a follow-on lease, maintenance costs, remarketing costs and the remaining economic life of the asset. We record assets held for sale at the lower of carrying value or fair value less costs to sell.

When we determine that impairment is indicated for an asset, the amount of impairment expense recorded is the excess of the carrying value over the fair value of the asset.

Allowance for losses on customer financing receivables We record the potential impairment of customer financing receivables in a valuation account, the balance of which is an accounting estimate of probable but unconfirmed losses. The allowance for losses on receivables relates to two components of receivables: (a) receivables that are evaluated individually for impairment and (b) all other receivables.

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 of the receivable agreement, without regard to any subsequent restructurings. Factors considered in assessing collectability include, but are not limited to, a customer’s extended delinquency, requests for restructuring and filings for bankruptcy. We determine a specific impairment allowance based on the difference between the carrying value of the receivable and the estimated fair value of the related collateral we would expect to realize.

We review the adequacy of the allowance attributable to the remaining receivables (after excluding receivables subject to a specific impairment allowance) by assessing both the collateral exposure and the applicable cumulative default rate. Collateral exposure for a particular receivable is the excess of the carrying value of the receivable over the fair value of the related collateral. A receivable with an estimated fair value in excess of the carrying value is considered to have no collateral exposure. The applicable cumulative default rate is determined using two components: customer credit ratings and weighted average remaining contract term. Internally assigned credit ratings, our credit quality indicator, are determined for each customer in the portfolio. Those ratings are updated based upon public information and information obtained directly from our customers.

We have entered into agreements with certain customers that would entitle us to look beyond the specific collateral underlying the receivable for purposes of determining the collateral exposure as described above. Should the proceeds from the sale of the underlying collateral asset resulting from a default condition be insufficient to cover the carrying value of our receivable (creating a shortfall condition), these agreements would, for example, permit us to take the actions necessary to sell or retain certain other assets in which the customer has an equity interest and use the proceeds to cover the shortfall.

Each quarter we review customer credit ratings, published historical credit default rates for different rating categories, and multiple third-party aircraft value publications as a basis to validate the reasonableness of the allowance for losses on receivables. There can be no assurance that actual results will not differ from estimates or that the consideration of these factors in the future will not result in an increase or decrease to the allowance for losses on receivables.

Warranties

In conjunction with certain product sales, we provide warranties that cover factors such as non-conformance to specifications and defects in material and design. The majority of our warranties are issued by our Commercial Airplanes segment. Generally, aircraft sales are accompanied by a three to four-year standard warranty for systems, accessories, equipment, parts, and software manufactured by us or manufactured to certain standards under our authorization. These warranties are included in the programs’ estimate at completion. On occasion we have made commitments beyond the standard warranty obligation to correct fleet-wide major issues of a particular model, resulting in additional accrued warranty expense. Warranties issued by our BDS segment principally relate to sales of military aircraft and weapons hardware and are included in the contract cost estimates. These sales are generally accompanied by a six month to two-year warranty period and cover systems, accessories, equipment, parts, and software manufactured by us to certain contractual specifications. Estimated costs related to standard warranties are recorded in the period in which the related product sales occur. The warranty liability recorded at each balance sheet date reflects the estimated number of months of warranty coverage outstanding for products delivered times the average of historical monthly warranty payments, as well as additional amounts for certain major warranty issues that exceed a normal claims level. Estimated costs of these additional warranty issues are considered changes to the initial liability estimate.

We provide guarantees to certain commercial airplane customers which include compensation provisions for failure to meet specified aircraft performance targets. We account for these performance guarantees as warranties. The estimated liability for these warranties is based on known and anticipated operational characteristics and forecasted customer operation of the aircraft relative to contractually specified performance targets, and anticipated settlements when contractual remedies are not specified. Estimated payments are recorded as a reduction of revenue at delivery of the related aircraft. We have agreements that require certain suppliers to compensate us for amounts paid to customers for failure of supplied equipment to meet specified performance targets. Claims against suppliers under these agreements are included in Inventories and recorded as a reduction in Cost of products at delivery of the related aircraft. These performance warranties and claims against suppliers are included in the programs’ estimate at completion.

Supplier Penalties

We record an accrual for supplier penalties when an event occurs that makes it probable that a supplier penalty will be incurred and the amount is reasonably estimable. Until an event occurs, we fully anticipate accepting all products procured under production-related contracts.

Guarantees

We record a liability in Accrued liabilities for the fair value of guarantees that are issued or modified after December 31, 2002. For a residual value guarantee where we received a cash premium, the liability is equal to the cash premium received at the guarantee’s inception. For credit guarantees, the liability is equal to the present value of the expected loss. We determine the expected loss by multiplying the creditor’s default rate by the guarantee amount reduced by the expected recovery, if applicable, for each future period the credit guarantee will be outstanding. If at inception of a guarantee, we determine there is a probable related contingent loss, we will recognize a liability for the greater of (a) the fair value of the guarantee as described above or (b) the probable contingent loss amount.

Standards Issued and Not Yet Implemented

In February 2016, the Financial Accounting Standards Board issued Accounting Standards Update (ASU) No. 2016-02, Leases(Topic 842). The new standard is effective for reporting periods beginning after December 15, 2018 and early adoption is permitted. The standard will require lessees to report most leases as assets and liabilities on the balance sheet, while lessor accounting will remain substantially unchanged. The standard requires a modified retrospective transition approach for existing leases, whereby the new rules will be applied to the earliest year presented. We plan to adopt the new lease standard in 2019 and do not expect it to have a material effect on our financial position, results of operations or cash flows.

We are adopting ASU No. 2014-09, Revenue from Contracts with Customers (Topic 606) in the first quarter of 2018 using the retrospective transition method which will require 2016 and 2017 financial statements to be restated. The new standard requires revenue to be recognized when promised goods or services are transferred to customers in amounts that reflect the consideration to which the company expects to be entitled in exchange for those goods or services. The standard also requires expanded disclosures regarding revenue and contracts with customers.

Most of our defense contracts at BDS and BGS that have historically recognized revenue as deliveries are made or based on the attainment of performance milestones will recognize revenue under the new standard over time as costs are incurred. Certain military derivative aircraft contracts included in our BCA segment will also recognize revenue as costs are incurred. The new standard will not change the total amount of revenue recognized on these contracts, only accelerate the timing of when the revenue is recognized. In addition, the timing of cost of sales recognition for these contracts will be accelerated, resulting in a decrease in Inventories from long-term contracts in progress.

The new standard will not affect revenue recognition or the use of program accounting for commercial airplane contracts. We will continue to recognize revenue for these contracts at the point in time when the customer accepts delivery of the airplane.

Because revenue will be recognized under the new standard as costs are incurred for most of our defense and military derivative airplane contracts, approximately $10,000 of revenues and $1,300 of associated operating earnings will be accelerated into years ending prior to January 1, 2016. The restatement will result in a cumulative adjustment to increase retained earnings by $900 effective January 1, 2016. Restated income statements for 2016 and 2017 are shown below.

We are also adopting ASU No. 2017-07,Compensation - Retirement Benefits (Topic 715): Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost in the first quarter of 2018. The standard requires non-service cost components of net periodic benefit cost to be presented in non-operating earnings using a retrospective transition method which will require us to restate 2016 and 2017 in the first quarter of 2018. In addition, only service costs may be allocated to production costs and capitalized in inventory on a prospective basis effective January 1, 2018. Adoption in the first quarter of 2018 is expected to result in a reclassification of non-service cost components of net periodic benefit cost of $6 in 2017 and $478 in 2016 from Earnings from Operations to Other income/(loss), net. We applied a practical expedient as the estimation basis for this reclassification. Adoption of the new pension standard will not affect previously reported financial position, earnings per share, or cash flows.

The impact to our 2017 and 2016 operating results as a result of adopting ASC Topic 606 and ASU No. 2017-07 is presented in the tables below:

	Reported			Restated			Reported			Restated
Years ended December 31,	2017			2017			2016			2016
Revenues:
Commercial Airplanes		$56,729			$58,014			$58,012			$59,378
Defense, Space & Security	21,057			20,561			22,563			20,180
Global Services	14,639			14,581			13,925			13,819
Boeing Capital	307			307			298			298
Unallocated items, eliminations and other	660			542			(227		)	(179		)
Total revenues		$93,392			$94,005			$94,571			$93,496
Earnings from operations:
Commercial Airplanes		$5,432			$5,452			$1,995			$1,981
Defense, Space & Security	2,223			2,193			1,966			1,678
Global Services	2,256			2,246			2,177			2,159
Boeing Capital	114			114			59			59
Segment operating profit	10,025			10,005			6,197			5,877
Unallocated items, eliminations and other	253			(1,099		)	(363		)	(707		)
FAS/CAS service cost adjustment (1)				1,438						1,357
Earnings from operations	10,278			10,344			5,834			6,527
Other income/(loss), net (1)	129			123			40			(438		)
Interest and debt expense	(360		)	(360		)	(306		)	(306		)
Earnings before income taxes	10,047			10,107			5,568			5,783
Income tax expense	(1,850		)	(1,649		)	(673		)	(749		)
Net earnings		$8,197			$8,458			$4,895			$5,034
Diluted earnings per share		$13.43			$13.85			$7.61			$7.83

⁽¹⁾  The FAS/CAS service cost adjustment represents the difference between the pension and postretirement service costs calculated under Generally Accepted Accounting Principles (GAAP) and costs allocated to the business segments which are based on U.S. Government Cost Accounting Standards for our defense businesses. Restated Other income/(loss), net includes the non-service cost components of net periodic benefit cost.

In addition to the income statement changes described above, adoption of ASC Topic 606 is expected to increase total assets and total liabilities at December 31, 2017 and 2016 by approximately $20,000 and $19,000 primarily due to classifying certain advances from customers as liabilities under the new standard, whereas these advances were netted against inventory under existing GAAP. Adoption of ASU No. 2017-07 has no impact on total assets and total liabilities. The new standards have no impact on cash flows reported in 2017 and 2016. The impact of the new revenue standard on our 2017 and 2016 financial results may not be representative of the impact on our financial position and operating results in subsequent years. ASC Topic 606 requires additional detailed disclosures regarding the Company’s contracts with customers, including disclosure of remaining unsatisfied performance obligations, in the first quarter of 2018 which we are continuing to assess. We have identified and implemented changes to the Company’s business processes, systems and controls to support adoption of the new standard.

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Goodwill And Acquired Intangibles

12 Months Ended

Dec. 31, 2017

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Acquired Intangibles

Goodwill and Acquired Intangibles

Changes in the carrying amount of goodwill by reportable segment for the years ended December 31, 2017 and 2016 were as follows:

	Commercial Airplanes		Defense, Space & Security		Global Services			Total
Balance at January 1, 2016		$992		$2,648		$1,486			$5,126
Acquisitions(1)			206					206
Goodwill adjustments					(8		)	(8		)
Balance at December 31, 2016		$992		$2,854		$1,478			$5,324
Acquisitions(1)			220					220
Goodwill adjustments					15			15
Balance at December 31, 2017(1)		$992		$3,074		$1,493			$5,559

⁽¹⁾ The increase in goodwill is primarily the result of acquisitions in the fourth quarter of 2016 and 2017.

As of December 31, 2017 and 2016, we had indefinite-lived intangible assets with carrying amounts of $490 relating to trade names.

The gross carrying amounts and accumulated amortization of our acquired finite-lived intangible assets were as follows at December 31:

	2017				2016
	Gross Carrying Amount		Accumulated Amortization		Gross Carrying Amount		Accumulated Amortization
Distribution rights		$2,445		$943		$2,281		$797
Product know-how	522		298		503		271
Customer base	650		479		595		436
Developed technology	556		406		523		376
Other	213		177		194		166
Total		$4,386		$2,303		$4,096		$2,046

Amortization expense for acquired finite-lived intangible assets for the years ended December 31, 2017 and 2016 was $240 and $220. Estimated amortization expense for the five succeeding years is as follows:

	2018		2019		2020		2021		2022
Estimated amortization expense		$236		$213		$183		$174		$165

During 2017 and 2016 we acquired $298 and $113 of finite-lived intangible assets, of which $55 and $31 related to non-cash investing and financing transactions.

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Earnings Per Share

12 Months Ended

Dec. 31, 2017

Earnings Per Share [Abstract]

Earnings Per Share

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)
Years ended December 31,	2017		2016		2015
Net earnings		$8,197		$4,895		$5,176
Less: earnings available to participating securities	6		3		4
Net earnings available to common shareholders		$8,191		$4,892		$5,172
Basic
Basic weighted average shares outstanding	603.2		636.5		688.0
Less: participating securities	0.7		1		1.1
Basic weighted average common shares outstanding	602.5		635.5		686.9
Diluted
Basic weighted average shares outstanding	603.2		636.5		688.0
Dilutive potential common shares(1)	7.5		7.3		8.1
Diluted weighted average shares outstanding	610.7		643.8		696.1
Less: participating securities	0.7		1.0		1.1
Diluted weighted average common shares outstanding	610.0		642.8		695.0
Net earnings per share:
Basic		$13.60		$7.70		$7.52
Diluted	13.43		7.61		7.44

⁽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 per share because the effect was either antidilutive or the performance condition was not met.

(Shares in millions)
Years ended December 31,	2017	2016	2015
Performance awards	4.1	6.5	5.6
Performance-based restricted stock units	0.5	2.5	2.3

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Income Taxes

12 Months Ended

Dec. 31, 2017

Income Tax Disclosure [Abstract]

Income Taxes

Income Taxes

The components of earnings before income taxes were:

Years ended December 31,	2017		2016		2015
U.S.		$9,615		$5,175		$6,828
Non-U.S.	432		393		327
Total		$10,047		$5,568		$7,155

Income tax expense/(benefit) consisted of the following:

Years ended December 31,	2017			2016			2015
Current tax expense
U.S. federal		$1,276			$1,193			$2,102
Non-U.S.	149			133			122
U.S. state	23			15			21
Total current	1,448			1,341			2,245
Deferred tax expense
U.S. federal	405			(618		)	(297		)
Non-U.S.	(1		)	(4		)	4
U.S. state	(2		)	(46		)	27
Total deferred	402			(668		)	(266		)
Total income tax expense		$1,850			$673			$1,979

Net income tax payments were $896, $1,460 and $1,490 in 2017, 2016 and 2015, respectively.

The following is a reconciliation of the U.S. federal statutory tax rate of 35% to our effective income tax rates:

Years ended December 31,	2017		2016		2015
U.S. federal statutory tax	35.0	%	35.0	%	35.0	%
Impact of Tax Cuts and Jobs Act(1)	(10.5	)
Tax basis adjustment(2)			(7.9	)
Federal audit settlements(3)			(3.2	)
Excess tax benefits(4)	(2.1	)	(1.9	)
Research and development credits	(1.6	)	(5.2	)	(3.4	)
U.S. manufacturing activity tax benefit	(1.3	)	(3.8	)	(2.9	)
Tax on non-US activities	(0.9	)	(0.5	)	(0.6	)
Other provision adjustments	(0.2	)	(0.4	)	(0.4	)
Effective income tax rate	18.4	%	12.1	%	27.7	%

⁽¹⁾  On December 22, 2017, the Tax Cuts and Jobs Act (TCJA) was enacted. The TCJA revises the U.S. corporate income tax by, among other things, lowering the rate from 35% to 21% effective January 1, 2018, implementing a territorial tax system and imposing a one-time tax on deemed repatriated earnings of non-U.S. subsidiaries. In the fourth quarter of 2017, we recorded provisional tax benefits of $1,210 related to the remeasurement of our net U.S. deferred tax liabilities to reflect the reduction in the corporate tax rate. We also recorded a provisional tax expense of $159 related to tax on non-U.S. activities resulting from the TCJA.

⁽²⁾  In the third quarter of 2016, we recorded incremental tax benefits of $440 related to the application of a 2012 Federal Court of Claims decision which held that the tax basis in certain assets could be increased (tax basis adjustment).

⁽³⁾  In the third quarter of 2016, a tax benefit of $177 was recorded as a result of the settlement of the 2011-2012 federal tax audit.

⁽⁴⁾  In 2017 and 2016, we recorded excess tax benefits related to employee share-based payments of $207 and $105.

Significant components of our deferred tax (liabilities)/assets at December 31 were as follows:

	2017			2016
Inventory and long-term contract methods of income recognition	(6,290		)	(9,954		)
Pension benefits	3,690			7,385
Retiree health care benefits	1,319			2,268
Fixed assets, intangibles and goodwill (net of valuation allowance of $16 and $16)	(1,259		)	(2,007		)
Other employee benefits	847			1,225
Customer and commercial financing	(369		)	(730		)
Accrued expenses and reserves	347			587
Net operating loss, credit and capital loss carryovers (net of valuation allowance of $53 and $79)(1)	299			277
Other	(82		)	(57		)
Net deferred tax (liabilities)/assets(2)		($1,498	)		($1,006	)

⁽¹⁾   Of the deferred tax asset for net operating loss and credit carryovers, $278 expires on or before December 31, 2036 and $21 may be carried over indefinitely.

⁽²⁾   Included in the net deferred tax (liabilities)/assets as of December 31, 2017 and 2016 are deferred tax assets in the amounts of $4,636 and $7,701 related to Accumulated other comprehensive loss.

Net deferred tax (liabilities)/assets at December 31 were as follows:

	2017			2016
Deferred tax assets		$8,459			$13,591
Deferred tax liabilities	(9,888		)	(14,502		)
Valuation allowance	(69		)	(95		)
Net deferred tax (liabilities)/assets		($1,498	)		($1,006	)

The deferred tax assets are reduced by a valuation allowance if, based upon available evidence, it is more likely than not that some or all of the deferred tax assets will not be realized.

The TCJA one-time repatriation tax liability effectively taxed the undistributed earnings previously deferred from U.S. income taxes. We have not provided for foreign withholding tax on the undistributed earnings from our non-U.S. subsidiaries because such earnings are considered to be indefinitely reinvested. If such earnings were to be distributed, any foreign withholding tax would not be significant.

In accordance with U.S. Securities and Exchange Commission Staff Accounting Bulletin No. 118 the amounts recorded in the fourth quarter of 2017 related to the TCJA represent reasonable estimates based on our analysis to date and are considered to be provisional and subject to revision during 2018. Provisional amounts were recorded for the repatriation tax, the remeasurement of our 2017 U.S. net deferred tax liabilities and ancillary state tax effects. These amounts are considered to be provisional as we continue to assess available tax methods and elections and refine our computations. In addition, further regulatory guidance related to the TCJA is expected to be issued in 2018 which may result in changes to our current estimates. Any revisions to the estimated impacts of TCJA will be recorded quarterly until the computations are complete which is expected no later than the fourth quarter of 2018.

As of December 31, 2017 and 2016, the amounts accrued for the payment of income tax-related interest and penalties included in the Consolidated Statements of Financial Position were not significant. The amounts of interest benefit included in the Consolidated Statements of Operations were not significant for the years ended December 31, 2017, 2016 and 2015.

A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows:

	2017			2016			2015
Unrecognized tax benefits – January 1		$1,557			$1,617			$1,312
Gross increases – tax positions in prior periods	3			17			38
Gross decreases – tax positions in prior periods	(44		)	(348		)	(25		)
Gross increases – current-period tax positions	220			344			292
Settlements				(73		)
Unrecognized tax benefits – December 31		$1,736			$1,557			$1,617

As of December 31, 2017, 2016 and 2015, the total amount of unrecognized tax benefits was $1,736, $1,557 and $1,617, respectively, of which $1,568, $1,402 and $1,479 would affect the effective tax rate, if recognized. As of December 31, 2017, these amounts are primarily associated with U.S. federal tax issues such as the amount of research tax credits claimed, the U.S. manufacturing activity tax benefit and tax basis adjustments. Also included in these amounts are accruals for domestic state tax issues such as the allocation of income among various state tax jurisdictions and the amount of state tax credits claimed.

Federal income tax audits have been settled for all years prior to 2013. The Internal Revenue Service (IRS) began the 2013-2014 federal tax audit in the fourth quarter of 2016. We are also subject to examination in major state and non-U.S. jurisdictions for the 2001-2016 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 federal and state matters under audit may decrease by up to $540 and $430, respectively, based on current estimates.

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Accounts Receivable

12 Months Ended

Dec. 31, 2017

Accounts Receivable, Net [Abstract]

Accounts Receivable

Accounts Receivable, net

Accounts receivable at December 31 consisted of the following:

	2017			2016
U.S. government contracts		$5,989			$4,639
Commercial Airplanes	1,542			1,375
Global Services(1)	1,472			1,257
Defense, Space & Security(1)	760			533
Reinsurance receivables	467			526
Other	348			567
Less valuation allowance	(62		)	(65		)
Total		$10,516			$8,832

⁽¹⁾  Excludes U.S. government contracts

The following table summarizes our accounts receivable under long-term contracts that were unbillable or related to outstanding claims as of December 31:

	Unbillable				Claims
	2017		2016		2017		2016
Current		$2,876		$1,919		$4		$38
Expected to be collected after one year	1,564		2,011			$55	91
Total		$4,440		$3,930		$59		$129

Under contract accounting unbillable receivables on long-term contracts arise when the sales or revenues based on performance attainment, though appropriately recognized, cannot be billed yet under terms of the contract as of the balance sheet date. Any adjustment for the credit quality of unbillable receivables, if required, would be recorded as a direct reduction of revenue. Factors considered in assessing the collectability of unbillable receivables include, but are not limited to, a customer’s extended delinquency, requests for restructuring and filings for bankruptcy. Unbillable receivables related to commercial customers expected to be collected after one year were$172 and $172 at December 31, 2017 and 2016. Accounts receivable related to claims are items that we believe are earned, but are subject to uncertainty concerning their determination or ultimate realization.

Accounts receivable, other than those described above, expected to be collected after one year are not material.

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Inventories

12 Months Ended

Dec. 31, 2017

Inventory Disclosure [Abstract]

Inventories

Inventories

Inventories at December 31 consisted of the following:

	2017			2016
Long-term contracts in progress		$13,889			$12,801
Commercial aircraft programs	52,861			52,048
Commercial spare parts, used aircraft, general stock materials and other	5,688			5,446
Inventory before advances and progress billings	72,438			70,295
Less advances and progress billings	(28,094		)	(27,096		)
Total		$44,344			$43,199

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 $120 (net of advances of $164 and $220) at December 31, 2017 and 2016. See indemnifications to ULA in Note 12.

Included in inventories at December 31, 2017 and 2016 are capitalized precontract costs of $933 and $729 primarily related to KC-46A Tanker, C-17 and F/A-18. See Note 11.

Commercial Aircraft Programs

At December 31, 2017 and 2016, commercial aircraft programs inventory included the following amounts related to the 787 program: $30,695 and $32,501 of work in process (including deferred production costs of $25,358 and $27,308), $3,189 and $2,398 of supplier advances, and $3,173 and $3,625 of unamortized tooling and other non-recurring costs. At December 31, 2017, $22,220 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 $6,311 is expected to be recovered from units included in the program accounting quantity that represent expected future orders.

At December 31, 2017 and 2016, commercial aircraft programs inventory included $151 and $284 of unamortized tooling costs related to the 747 program. At December 31, 2017, $146 of 747 unamortized tooling costs are expected to be recovered from units included in the program accounting quantity that have firm orders or commitments. The program accounting quantity includes one already completed aircraft which is being remarketed.

Commercial aircraft programs inventory included amounts credited in cash or other consideration (early issue sales consideration) to airline customers totaling $2,976 and $3,117 at December 31, 2017 and 2016.

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Customer Financing

12 Months Ended

Dec. 31, 2017

Customer Financing [Abstract]

Customer Financing

Customer Financing

Customer financing primarily relates to the BCC segment and consisted of the following at December 31:

	2017			2016
Financing receivables:
Investment in sales-type/finance leases		$1,364			$1,482
Notes	677			807
Total financing receivables	2,041			2,289
Operating lease equipment, at cost, less accumulated depreciation of $320 and $359	1,020			1,922
Gross customer financing	3,061			4,211
Less allowance for losses on receivables	(12		)	(10		)
Total		$3,049			$4,201

The components of investment in sales-type/finance leases at December 31 were as follows:

	2017			2016
Minimum lease payments receivable		$1,159			$1,321
Estimated residual value of leased assets	495			505
Unearned income	(290		)	(344		)
Total		$1,364			$1,482

Operating lease equipment primarily includes large commercial jet aircraft.

Financing receivable balances evaluated for impairment at December 31 were as follows:

	2017		2016
Individually evaluated for impairment		$77		$55
Collectively evaluated for impairment	1,964		2,234
Total financing receivables		$2,041		$2,289

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 December 31, 2017 and 2016, we individually evaluated for impairment customer financing receivables of $77 and $55, of which $66 and $44 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.

Income recognition is generally suspended for financing receivables at the date full recovery of income and principal becomes not probable. Income is recognized when financing receivables become contractually current and performance is demonstrated by the customer. The average recorded investment in impaired financing receivables for the year ended December 31, 2017 was $46 and the related interest income was insignificant.

The change in the allowance for losses on financing receivables for the years ended December 31, 2017, 2016 and 2015, consisted of the following:

	2017			2016			2015
Beginning balance - January 1		($10	)		($16	)		($21	)
Customer financing valuation (cost)/benefit	(2		)	6			5
Ending balance - December 31		($12	)		($10	)		($16	)
Collectively evaluated for impairment		($12	)		($10	)		($16	)

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 at December 31 by internal credit rating category are shown below:

Rating categories	2017		2016
BBB		$1,170		$1,324
BB	627		538
B	177		383
CCC	67		44
Total carrying value of financing receivables		$2,041		$2,289

At December 31, 2017, our allowance related to receivables with ratings of B, BB and BBB. We applied default rates that averaged 22.6%, 4.7% and 0.9% 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 747-8 and out-of-production 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 at December 31:

	2017		2016
717 Aircraft ($269 and $301 accounted for as operating leases)		$1,081		$1,282
747-8 Aircraft ($467 and $1,086 accounted for as operating leases)	467		1,111
MD-80 Aircraft (Accounted for as sales-type finance leases)	231		259
757 Aircraft ($27 and $43 accounted for as operating leases)	217		246
747-400 Aircraft ($88 and $149 Accounted for as operating leases)	170		149
737 Aircraft ($127 and $103 Accounted for as operating leases)	161		103
767 Aircraft ($25 and $85 accounted for as operating leases)	98		170
777 Aircraft (Accounted for as notes)	14		165

Charges related to customer financing asset impairment for the years ended December 31 were as follows:

	2017		2016		2015
Boeing Capital		$13		$45		$162
Other Boeing	30		21
Total		$43		$66		$162

Scheduled receipts on customer financing are as follows:

Year	2018		2019		2020		2021		2022		Beyond 2022
Principal payments on notes receivable		$149		$167		$132		$175		$37		$17
Sales-type/finance lease payments receivable	236		223		185		120		107		288
Operating lease equipment payments receivable	417		86		69		53		40		62

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Property, Plant And Equipment

12 Months Ended

Dec. 31, 2017

Property, Plant and Equipment [Abstract]

Property, Plant And Equipment

Property, Plant and Equipment

Property, plant and equipment at December 31 consisted of the following:

	2017			2016
Land		$530			$535
Buildings and land improvements	14,125			13,796
Machinery and equipment	14,577			13,569
Construction in progress	1,081			1,790
Gross property, plant and equipment	30,313			29,690
Less accumulated depreciation	(17,641		)	(16,883		)
Total		$12,672			$12,807

Depreciation expense was $1,548, $1,418 and $1,357 for the years ended December 31, 2017, 2016 and 2015, respectively. Interest capitalized during the years ended December 31, 2017, 2016 and 2015 totaled $110, $170 and $158, respectively.

Rental expense for leased properties was $283, $287 and $267, for the years ended December 31, 2017, 2016 and 2015, respectively. At December 31, 2017, minimum rental payments under capital leases aggregated $147. Minimum rental payments under operating leases with initial or remaining terms of one year or more aggregated $1,355, net of sublease payments of $13 at December 31, 2017. Payments due under operating and capital leases net of sublease amounts and non-cancellable future rentals during the next five years are as follows:

	2018		2019		2020		2021		2022
Minimum operating lease payments, net of sublease amounts		$216		$201		$157		$115		$96
Minimum capital lease payments	55		37		24		12		4

Accounts payable related to purchases of property, plant and equipment were $196 and $292 for the years ended December 31, 2017 and 2016.

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Investments

12 Months Ended

Dec. 31, 2017

Investments [Abstract]

Investments

Investments

Our investments, which are recorded in Short-term and other investments or Investments, consisted of the following at December 31:

	2017		2016
Equity method investments (1)		$1,214		$1,242
Time deposits	613		665
Available-for-sale investments	508		537
Other investments	30		33
Restricted cash & cash equivalents (2)	74		68
Total		$2,439		$2,545

⁽¹⁾  Dividends received were $247 and $314 during 2017 and 2016. Retained earnings at December 31, 2017 include undistributed earnings from our equity method investments of $307.

⁽²⁾  Reflects amounts restricted in support of our workers’ compensation programs, employee benefit programs, and insurance premiums.

Equity Method Investments

Our equity method investments consisted of the following as of December 31:

	Segment	Ownership Percentages	Investment Balance
			2017		2016
United Launch Alliance	BDS	50%		$889		$914
Other	BCA, BDS, and BGS		325		328
Total equity method investments				$1,214		$1,242

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Other Assets

12 Months Ended

Dec. 31, 2017

Other Assets [Abstract]

Other Assets

Other Assets

Sea Launch

At December 31, 2017 and 2016, Other assets included $356 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. The net amounts owed to Boeing by each of the partners are as follows: S.P. Koroley Rocket and Space Corporation Energia of Russia (RSC Energia) – $223, 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.

Spirit AeroSystems

As of December 31, 2017 and 2016, Other assets included $137 and $143 of receivables related to indemnifications from Spirit AeroSystems, Inc. (Spirit), for costs incurred related to pension and retiree medical obligations of former Boeing employees who were subsequently employed by Spirit. During the fourth quarter of 2014, Boeing filed a complaint against Spirit in the Delaware Superior Court seeking to enforce our rights to indemnification and to recover from Spirit amounts incurred by Boeing for pension and retiree medical obligations. During 2017, the court ruled against Boeing and denied our claim. In January 2018, Boeing filed a notice of appeal with the Delaware Supreme Court. We believe we have substantial arguments on appeal and expect to fully recover from Spirit.

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Liabilities, Commitments And Contingencies

12 Months Ended

Dec. 31, 2017

Commitments and Contingencies Disclosure [Abstract]

Liabilities, Commitments And Contingencies

Liabilities, Commitments and Contingencies

Accrued Liabilities

Accrued liabilities at December 31 consisted of the following:

	2017		2016
Accrued compensation and employee benefit costs		$6,659		$5,720
Environmental	524		562
Product warranties	1,211		1,414
Forward loss recognition	1,683		1,385
Dividends payable	1,005		866
Income Taxes Payable	380		89
Other	3,830		4,655
Total		$15,292		$14,691

Environmental

The following table summarizes environmental remediation activity during the years ended December 31, 2017 and 2016.

	2017			2016
Beginning balance – January 1		$562			$566
Reductions for payments made	(45		)	(47		)
Changes in estimates	7			43
Ending balance – December 31		$524			$562

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 December 31, 2017 and 2016, the high end of the estimated range of reasonably possible remediation costs exceeded our recorded liabilities by $868 and $857.

Product Warranties

The following table summarizes product warranty activity recorded during the years ended December 31, 2017 and 2016.

	2017			2016
Beginning balance – January 1		$1,414			$1,485
Additions for current year deliveries	274			356
Reductions for payments made	(241		)	(309		)
Changes in estimates	(236		)	(118		)
Ending balance – December 31		$1,211			$1,414

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 December 31, 2017 have expiration dates from 2018 through 2026. At December 31, 2017 and 2016, total contractual trade-in commitments were $1,462 and $1,485. As of December 31, 2017 and 2016, we estimated that it was probable we would be obligated to perform on certain of these commitments with net amounts payable to customers totaling $155 and $126 and the fair value of the related trade-in aircraft was $155 and $126.

Financing Commitments

Financing commitments related to aircraft on order, including options and those proposed in sales campaigns, and refinancing of delivered aircraft, totaled $10,221 and $14,847 as of December 31, 2017 and 2016. The estimated earliest potential funding dates for these commitments as of December 31, 2017 are as follows:

	Total
2018		$2,047
2019	2,975
2020	1,396
2021	1,322
2022	935
Thereafter	1,546
		$10,221

As of December 31, 2017, all 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.

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 $3,708 and $4,701 as of December 31, 2017 and 2016.

Commitments to ULA

We and Lockheed Martin Corporation have each committed to provide ULA with additional capital contributions in the event ULA does not have sufficient funds to make a required payment to us under an inventory supply agreement. As of December 31, 2017, ULA’s total remaining obligation to Boeing under the inventory supply agreement was $120. See Note 6.

F/A-18

At December 31, 2017, our backlog included 26 F/A-18 aircraft under contract with the U.S. Navy. We have begun work or authorized suppliers to begin working on aircraft beyond those already in backlog in anticipation of future orders. At December 31, 2017, we had $155 of capitalized precontract costs and $855 of potential termination liabilities to suppliers associated with F/A-18 aircraft not yet ordered.

Company Owned Life Insurance

McDonnell Douglas Corporation insured its executives with Company Owned Life Insurance (COLI), which are life insurance policies with a cash surrender value. Although we do not use COLI currently, these obligations from the merger with McDonnell Douglas are still a commitment at this time. We have loans in place to cover costs paid or incurred to carry the underlying life insurance policies. As of December 31, 2017 and 2016, the cash surrender value was $489 and $483 and the total loans were $470 and $456. As we have the right to offset the loans against the cash surrender value of the policies, we present the net asset in Other assets on the Consolidated Statements of Financial Position as of December 31, 2017 and 2016.

United States Government Defense Environment Overview

In November 2017, Congress passed the National Defense Authorization Act for fiscal year 2018 (FY2018), which authorizes a U.S. DoD budget topline higher than the administration’s budget request from May. While the appropriations process for FY2018 remains incomplete, both the House and Senate appropriations committees have also produced bills that increase the U.S. DoD budget topline above the administration’s request. On February 9, 2018, Congress passed a fifth Continuing Resolution that maintains current funding levels through March 23, 2018 and includes increases to the Budget Control Act caps for defense and non-defense spending for FY2018 and FY2019. However, the Budget Control Act continues to mandate limits on U.S. government discretionary spending and remains in effect. As a result, continued budget uncertainty and the risk of future sequestration cuts will remain unless Congress acts to repeal or suspend this law.

Funding timeliness also remains a risk. If Congress is unable to pass appropriations bills or an omnibus spending bill before the expiration of the current Continuing Resolution, a government shutdown could result which may have impacts above and beyond those resulting from budget cuts, sequestration impacts or program-level appropriations. 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.

In addition, there continues to be uncertainty with respect to program-level appropriations for the U.S. DoD and other government agencies, including the National Aeronautics and Space Administration (NASA), within the overall budgetary framework described above. 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 the results of the Company’s 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, Saudi F-15, USAF KC-46A Tanker 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, during 2017, we recorded additional reach-forward losses of $471 on the KC-46A Tanker program. Moreover, this and our other 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 Engineering, Manufacturing and Development (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.

At December 31, 2017, we had approximately $347 of capitalized precontract costs and $1,024 of potential termination liabilities to suppliers.

Recoverable Costs on Government Contracts

Our final incurred costs for each year are subject to audit and review for allowability by the U.S. government, which can result in payment demands related to costs they believe should be disallowed. We work with the U.S. government to assess the merits of claims and where appropriate reserve for amounts disputed. If we are unable to satisfactorily resolve disputed costs, we could be required to record an earnings charge and/or provide refunds to the U.S. government.

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Arrangements With Off-Balance Sheet Risk

12 Months Ended

Dec. 31, 2017

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
December 31,	2017		2016		2017		2016		2017		2016
Contingent repurchase commitments		$1,605		$1,306		$1,605		$1,306		$9		$9
Indemnifications to ULA:
Contributed Delta program launch inventory	72		77
Contract pricing	261		261						7		7
Other Delta contracts	191		216								5
Credit guarantees	109		29		55		27		16		2

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. Since inception, ULA has consumed $1,288 of the $1,360 of inventory that was contributed by us and has yet to consume $72. Under the inventory supply agreement, we have recorded revenues and cost of sales of $1,528 through December 31, 2017. ULA has made payments of $1,740 to us under the inventory supply agreement and we have made $48 of net indemnification payments to ULA.

We agreed to indemnify ULA against potential losses that ULA may incur in the event ULA is unable to obtain certain additional contract pricing from the USAF for four satellite missions. In 2009, ULA filed a complaint before the Armed Services Board of Contract Appeals (ASBCA) for a contract adjustment for the price of two of these missions, followed in 2011 by a subsequent notice of appeal with respect to a third mission. The USAF did not exercise an option for a fourth mission prior to the expiration of the contract. During the second quarter of 2016, the ASBCA ruled that ULA is entitled to additional contract pricing for each of the three missions and remanded to the parties to negotiate appropriate pricing. During the fourth quarter of 2016, the USAF appealed the ASBCA’s ruling. In April 2017, the USAF withdrew its appeal. If ULA is ultimately unsuccessful in obtaining additional pricing, we may be responsible for an indemnification payment up to $261 and may record up to $277 in pre-tax losses associated with the three missions.

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 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, and during the fourth quarter, Boeing filed a motion for summary judgment for full recovery of its costs. 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.

Industrial Revenue Bonds

Industrial Revenue Bonds (IRB) issued by St. Louis County were used to finance the purchase and/or construction of real and personal property at our St. Louis site. Tax benefits associated with IRBs include a twelve-year property tax abatement and sales tax exemption from St. Louis County. We record these properties on our Consolidated Statements of Financial Position. We have also purchased the IRBs and therefore are the bondholders as well as the borrower/lessee of the properties purchased with the IRB proceeds. The liabilities and IRB assets are equal and are reported net in the Consolidated Statements of Financial Position.

As of December 31, 2017 and 2016, the assets and liabilities associated with the IRBs were $166 and $64.

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Debt

12 Months Ended

Dec. 31, 2017

Debt Disclosure [Abstract]

Debt

Debt

On February 16, 2017, we issued $900 of fixed rate senior notes consisting of $300 due March 1, 2022 that bear an annual interest rate of 2.125%, $300 due March 1, 2027 that bear an annual interest rate of 2.8%, and $300 due March 1, 2047 that bear an annual interest rate of 3.65%. 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 $871, after deducting underwriting discounts, commissions and offering expenses.

Interest incurred, including amounts capitalized, was $541, $535 and $497 for the years ended December 31, 2017, 2016 and 2015, respectively. Interest expense recorded by BCC is reflected as Boeing Capital interest expense on our Consolidated Statements of Operations. Total Company interest payments were $527, $523 and $488 for the years ended December 31, 2017, 2016 and 2015, respectively.

We have $5,000 currently available under credit line agreements, of which $2,500 is a 364-day revolving credit facility expiring in October 2018, $2,470 expires in November 2022, and $30 expires in November 2021. The 364-day credit facility has a one-year term out option which allows us to extend the maturity of any borrowings one year beyond the aforementioned expiration date. We continue to be in full compliance with all covenants contained in our debt or credit facility agreements.

Short-term debt and current portion of long-term debt at December 31 consisted of the following:

	2017		2016
Unsecured debt securities		$599		$255
Non-recourse debt and notes	33		33
Capital lease obligations	52		57
Commercial Paper	600
Other notes	51		39
Total		$1,335		$384

Debt at December 31 consisted of the following:

	2017		2016
Unsecured debt securities
0.95% - 4.88% due through 2047		$6,127	5,250
5.80% - 6.88% due through 2043	2,386		2,383
7.25% - 8.75% due through 2043	1,637		1,641
Commercial paper	600
Variable rate: 3-month USD LIBOR plus 12.5 basis points due 2017				$250
Non-recourse debt and notes
6.98% - 7.38% notes due through 2021	94		127
Capital lease obligations due through 2034	138		138
Other notes	135		163
Total debt		$11,117		$9,952

As of December 31, 2017, borrowings of commercial paper of $600, with a weighted-average interest rate of 1.4%, were supported by unused commitments under the revolving credit agreement. We had no commercial paper borrowings in 2016.

Total debt is attributable to:

	2017		2016
BCC		$2,523		$2,864
Other Boeing	8,594		7,088
Total debt		$11,117		$9,952

At December 31, 2017, $94 of debt (non-recourse debt, notes and capital lease obligations) was collateralized by customer financing assets totaling $231.

Scheduled principal payments for debt and minimum capital lease obligations for the next five years are as follows:

	2018		2019		2020		2021		2022
Scheduled principal payments		$1,340		$1,275		$1,148		$728		$554

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Postretirement Plans

12 Months Ended

Dec. 31, 2017

Retirement Benefits, Description [Abstract]

Postretirement Plans

Postretirement Plans

The majority of our employees have earned benefits under defined benefit pension plans. Nonunion and the majority of union employees that had participated in defined benefit pension plans transitioned to a company-funded defined contribution retirement savings plan in 2016.

We fund our major pension plans through trusts. Pension assets are placed in trust solely for the benefit of the plans’ participants, and are structured to maintain liquidity that is sufficient to pay benefit obligations as well as to keep pace over the long-term with the growth of obligations for future benefit payments.

We also have other postretirement benefits (OPB) other than pensions which consist principally of health care coverage for eligible retirees and qualifying dependents, and to a lesser extent, life insurance to certain groups of retirees. Retiree health care is provided principally until age 65 for approximately half those retirees who are eligible for health care coverage. Certain employee groups, including employees covered by most United Auto Workers bargaining agreements, are provided lifetime health care coverage. The funded status of the plans is measured as the difference between the plan assets at fair value and the projected benefit obligation (PBO). We have recognized the aggregate of all overfunded plans in Other assets, and the aggregate of all underfunded plans in either Accrued retiree health care or Accrued pension plan liability, net. The portion of the amount by which the actuarial present value of benefits included in the PBO exceeds the fair value of plan assets, payable in the next 12 months, is reflected in Accrued liabilities.

The components of net periodic benefit cost were as follows:

	Pension									Other Postretirement Benefits
Years ended December 31,	2017			2016			2015			2017			2016			2015
Service cost		$402			$604			$1,764			$106			$128			$140
Interest cost	2,991			3,050			2,990			229			262			248
Expected return on plan assets	(3,847		)	(3,999		)	(4,031		)	(7		)	(8		)	(8		)
Amortization of prior service (credits)/costs	(39		)	38			196			(137		)	(126		)	(136		)
Recognized net actuarial loss	804			790			1,577			10			22			31
Settlement/curtailment/other losses	1			40			290									10
Net periodic benefit cost		$312			$523			$2,786			$201			$278			$285
Net periodic benefit cost included in Earnings from operations		$639			$1,979			$2,366			$262			$274			$288

The following tables show changes in the benefit obligation, plan assets and funded status of both pensions and OPB for the years ended December 31, 2017 and 2016. Benefit obligation balances presented below reflect the PBO for our pension plans, and accumulated postretirement benefit obligations (APBO) for our OPB plans.

	Pension						Other Postretirement Benefits
	2017			2016			2017			2016
Change in benefit obligation
Beginning balance		$76,745			$74,388			$6,431			$7,138
Service cost	402			604			106			128
Interest cost	2,991			3,050			229			262
Plan participants’ contributions				1
Amendments	(7		)	6			(35		)	(57		)
Actuarial loss/(gain)	5,653			2,669			(204		)	(612		)
Settlement/curtailment/other	(751		)	(63		)
Gross benefits paid	(4,658		)	(3,903		)	(481		)	(469		)
Subsidies							33			37
Exchange rate adjustment	18			(7		)	6			4
Ending balance		$80,393			$76,745			$6,085			$6,431
Change in plan assets
Beginning balance at fair value		$56,692			$56,514		134				$132
Actual return on plan assets	8,552			3,885			15			7
Company contribution	4,025			113			6			6
Plan participants’ contributions				1			4			7
Settlement payments	(744		)	(24		)
Benefits paid	(4,530		)	(3,791		)	(16		)	(18		)
Exchange rate adjustment	16			(6		)
Ending balance at fair value		$64,011			$56,692			$143			$134
Amounts recognized in statement of financial position at December 31 consist of:
Other assets		$218			$3
Other accrued liabilities	(129		)	(113		)	(397		)	(381		)
Accrued retiree health care							(5,545		)	(5,916		)
Accrued pension plan liability, net	(16,471		)	(19,943		)
Net amount recognized		($16,382	)		($20,053	)		($5,942	)		($6,297	)

Amounts recognized in Accumulated other comprehensive loss at December 31 were as follows:

	Pension						Other Postretirement Benefits
	2017			2016			2017			2016
Net actuarial loss/(gain)		$22,942			$22,802			($59	)		$152
Prior service (credits)	(1,211		)	(1,243		)	(226		)	(328		)
Total recognized in Accumulated other comprehensive loss		$21,731			$21,559			($285	)		($176	)

The estimated amount that will be amortized from Accumulated other comprehensive loss into net periodic benefit cost during the year ending December 31, 2018 is as follows:

	Pension			Other Postretirement Benefits
Recognized net actuarial loss/(gain)		$1,128			($10	)
Amortization of prior service (credits)	(56		)	(126		)
Total		$1,072			($136	)

The accumulated benefit obligation (ABO) for all pension plans was $77,414 and $74,240 at December 31, 2017 and 2016. Key information for our plans with ABO in excess of plan assets as of December 31 was as follows:

	2017		2016
Projected benefit obligation		$74,953		$76,586
Accumulated benefit obligation	71,975		74,081
Fair value of plan assets		$58,353		$56,530

Assumptions

The following assumptions, which are the weighted average for all plans, are used to calculate the benefit obligation at December 31 of each year and the net periodic benefit cost for the subsequent year.

December 31,	2017		2016		2015
Discount rate:
Pension	3.60	%	4.00	%	4.20	%
Other postretirement benefits	3.30	%	3.70	%	3.80	%
Expected return on plan assets	6.80	%	6.80	%	7.00	%
Rate of compensation increase	5.30	%	4.40	%	4.00	%

The discount rate for each plan is determined based on the plans’ expected future benefit payments using a yield curve developed from high quality bonds that are rated as Aa or better by at least half of the four rating agencies utilized as of the measurement date. The yield curve is fitted to yields developed from bonds at various maturity points. Bonds with the ten percent highest and the ten percent lowest yields are omitted. A portfolio of about 400 bonds is used to construct the yield curve. Since corporate bond yields are generally not available at maturities beyond 30 years, it is assumed that spot rates will remain level beyond that 30-year point. The present value of each plan’s benefits is calculated by applying the discount rates to projected benefit cash flows. All bonds are U.S. issues, with a minimum outstanding of $50.

The pension fund’s expected return on plan assets assumption is derived from a review of actual historical returns achieved by the pension trust and anticipated future long-term performance of individual asset classes. While consideration is given to recent trust performance and historical returns, the assumption represents a long-term, prospective return. The expected return on plan assets component of the net periodic benefit cost for the upcoming plan year is determined based on the expected return on plan assets assumption and the market-related value of plan assets (MRVA). Since our adoption of the accounting standard for pensions in 1987, we have determined the MRVA based on a five-year moving average of plan assets. As of December 31, 2017, the MRVA was approximately $2,260 less than the fair market value of assets.

Assumed health care cost trend rates were as follows:

December 31,	2017		2016		2015
Health care cost trend rate assumed next year	6.00	%	6.50	%	6.50	%
Ultimate trend rate	4.50	%	5.00	%	5.00	%
Year that trend reached ultimate rate	2021		2021		2021

Assumed health care cost trend rates have a significant effect on the amounts reported for the health care plans. To determine the health care cost trend rates we look at a combination of information including ongoing claims cost monitoring, annual statistical analyses of claims data, reconciliation of forecast claims against actual claims, review of trend assumptions of other plan sponsors and national health trends, and adjustments for plan design changes, workforce changes, and changes in plan participant behavior. A one-percentage-point change in assumed health care cost trend rates would have the following effect:

	Increase		Decrease
Effect on total of service and interest cost		$45		($37	)
Effect on postretirement benefit obligation	529		(448		)

Plan Assets

Investment Strategy The overall objective of our pension assets is to earn a rate of return over time to satisfy the benefit obligations of the pension plans and to maintain sufficient liquidity to pay benefits and address other cash requirements of the pension fund. Specific investment objectives for our long-term investment strategy include reducing the volatility of pension assets relative to pension liabilities, achieving a competitive total investment return, achieving diversification between and within asset classes and managing other risks. Investment objectives for each asset class are determined based on specific risks and investment opportunities identified.

We periodically update our long-term, strategic asset allocations. We use various analytics to determine the optimal asset mix and consider plan liability characteristics, liquidity characteristics, funding requirements, expected rates of return and the distribution of returns. We identify investment benchmarks to evaluate performance for the asset classes in the strategic asset allocation that are market-based and investable where possible. Actual allocations to each asset class vary from target allocations due to periodic investment strategy changes, market value fluctuations, the length of time it takes to fully implement investment allocation positions, and the timing of benefit payments and contributions. Short-term investments and exchange-traded derivatives are used to rebalance the actual asset allocation to the target asset allocation. The asset allocation is monitored and rebalanced on a monthly basis. The actual and target allocations by asset class for the pension assets at December 31 were as follows:

	Actual Allocations				Target Allocations
Asset Class	2017		2016		2017		2016
Fixed income	46	%	48	%	47	%	47	%
Global equity	31		28		29		29
Private equity	5		5		5		5
Real estate and real assets	8		9		9		9
Hedge funds	10		10		10		10
Total	100	%	100	%	100	%	100	%

Fixed income securities are invested primarily in a diversified portfolio of long duration instruments. Global equity securities are invested in a diversified portfolio of U.S. and non-U.S. companies, across various industries and market capitalizations.

Real estate and real assets include global private investments that may be held through an investment in a limited partnership (LP) or other fund structures and publicly traded investments (such as Real Estate Investment Trusts (REITs) in the case of real estate). Real estate includes, but is not limited to, investments in office, retail, apartment and industrial properties. Real assets include, but are not limited to, investments in natural resources (such as energy, farmland and timber), commodities and infrastructure. Private equity investment vehicles are primarily limited partnerships (LPs) that mainly invest in U.S. and non-U.S. leveraged buyout, venture capital and special situation strategies.

Hedge fund investments seek to capitalize on inefficiencies identified across and within different asset classes or markets. Hedge fund strategy types include, but are not limited to directional, event driven, relative value, long-short and multi-strategy.

Investment managers are retained for explicit investment roles specified by contractual investment guidelines. Certain investment managers are authorized to use derivatives, such as equity or bond futures, swaps, options and currency futures or forwards. Derivatives are used to achieve the desired market exposure of a security or an index, transfer value-added performance between asset classes, achieve the desired currency exposure, adjust portfolio duration or rebalance the total portfolio to the target asset allocation.

As a percentage of total pension plan assets, derivative net notional amounts were 5.0% and 6.0% for fixed income, including to-be-announced mortgage-backed securities and treasury forwards, and 6.9% and 1.2% for global equity and commodities at December 31, 2017 and 2016.

In August 2017, the Company elected to contribute $3,500 of our common stock to the pension fund. An independent fiduciary was retained to manage and liquidate the stock over time at its discretion. The liquidation of the common stock holdings was completed during the fourth quarter of 2017.

Risk Management In managing the plan assets, we review and manage risk associated with funded status risk, interest rate risk, market risk, counterparty risk, liquidity risk and operational risk. Liability matching and asset class diversification are central to our risk management approach and are integral to the overall investment strategy. Further, asset classes are constructed to achieve diversification by investment strategy, by investment manager, by industry or sector and by holding. Investment manager guidelines for publicly traded assets are specified and are monitored regularly through the custodian. Credit parameters for counterparties have been established for managers permitted to trade over-the-counter derivatives. Valuation is governed through several types of procedures, including reviews of manager valuation policies, custodian valuation processes, pricing vendor practices, pricing reconciliation, and periodic, security-specific valuation testing.

Fair Value Measurements The following table presents our plan assets using the fair value hierarchy as of December 31, 2017 and 2016. 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.

	December 31, 2017										December 31, 2016
	Total			Level 1		Level 2			Level 3		Total			Level 1		Level 2			Level 3
Fixed income securities:
Corporate		$19,603					$19,591			$12		$16,730					$16,723			$7
U.S. government and agencies	5,430					5,430					4,876					4,875			1
Mortgage backed and asset backed	760					460			300		706					370			336
Municipal	1,355					1,355					1,398					1,398
Sovereign	1,237					1,237					782					782
Other	118				$59	59					74				$9	65
Derivatives:
Assets	49					49					40					40
Liabilities	(25		)			(25		)			(38		)			(38		)
Cash equivalents and other short-term investments	1,778					1,778					1,037					1,037
Equity securities:
U.S. common and preferred stock	4,615			4,615							5,374			5,373					1
Non-U.S. common and preferred stock	6,204			6,204							5,746			5,746
Derivatives:
Assets	4			1		3					6					6
Liabilities	(4		)			(4		)			(8		)			(8		)
Private equity
Real estate and real assets:
Real estate	462			462							468			468
Real assets	705			449		253			3		672			372		295			5
Derivatives:
Assets	17					17					4					4
Liabilities	(3		)			(3		)			(1		)			(1		)
Total		$42,305			$11,790		$30,200			$315		$37,866			$11,968		$25,548			$350
Fixed income common/collective/pooled funds		$1,257										$1,625
Fixed income other	303										227
Equity common/collective pooled funds	6,786										4,962
Private equity	2,767										2,639
Real estate and real assets	3,744										3,625
Hedge funds	6,440										5,441
Total investments measured at NAV as a practical expedient		$21,297										$18,519
Cash		$170										$160
Receivables	436										374
Payables	(197		)								(227		)
Total		$64,011										$56,692

Fixed income securities are primarily valued upon a market approach, using matrix pricing and considering a security’s relationship to other securities for which quoted prices in an active market may be available, or an income approach, converting future cash flows to a single present value amount. Inputs used in developing fair value estimates include reported trades, broker quotes, benchmark yields, and base spreads.

Common/collective/pooled funds are typically common or collective trusts valued at their NAVs that are calculated by the investment manager or sponsor of the fund and have daily or monthly liquidity. Derivatives included in the table above are over-the-counter and are primarily valued using an income approach with inputs that include benchmark yields, swap curves, cash flow analysis, rating agency data and interdealer broker rates. Exchange-traded derivative positions are reported in accordance with changes in daily variation margin which is settled daily and therefore reflected in the payables and receivables portion of the table.

Cash equivalents and other short-term investments (which are used to pay benefits) are held in a separate account which consists of a commingled fund (with daily liquidity) and separately held short-term securities and cash equivalents. All of the investments in this cash vehicle are valued daily using a market approach with inputs that include quoted market prices for similar instruments. In the event a market price is not available for instruments with an original maturity of one year or less, amortized cost is used as a proxy for fair value. Common and preferred stock equity securities are primarily valued using a market approach based on the quoted market prices of identical instruments.

Private equity and private debt NAV valuations are based on the valuation of the underlying investments, which include inputs such as cost, operating results, discounted future cash flows and market based comparable data. For those investments reported on a one-quarter lagged basis (primarily LPs) we use NAVs, adjusted for subsequent cash flows and significant events.

Real estate and real asset NAV valuations are based on valuation of the underlying investments, which include inputs such as cost, discounted future cash flows, independent appraisals and market based comparable data. For those investments reported on a one-quarter lagged basis (primarily LPs) NAVs are adjusted for subsequent cash flows and significant events. Publicly traded REITs and infrastructure stocks are valued using a market approach based on quoted market prices of identical instruments. Exchange-traded commodities futures positions are reported in accordance with changes in daily variation margin which is settled daily and therefore reflected in the payables and receivables portion of the table.

Hedge fund NAVs are generally based on the valuation of the underlying investments. This is primarily done by applying a market or income valuation methodology depending on the specific type of security or instrument held.

Investments in private equity, private debt, real estate, real assets, and hedge funds are primarily calculated and reported by the General Partner (GP), fund manager or third party administrator. Additionally, some investments in fixed income and equity are made via commingled vehicles and are valued in a similar fashion. Pension assets invested in commingled and limited partnership structures rely on the NAV of these investments as the practical expedient for the valuations.

The following tables present a reconciliation of Level 3 assets (excluding investments which are valued using NAVs as a practical expedient) held during the years ended December 31, 2017 and 2016. Transfers into and out of Level 3 are reported at the beginning-of-year values.

	January 1 2017 Balance		Net Realized and Unrealized Gains/(Losses)			Net Purchases, Issuances and Settlements			Net Transfers Out of Level 3			December 31 2017 Balance
Fixed income securities:
Corporate (1)		$12					$1			($1	)		$12
U.S. government and agencies	1								(1		)
Mortgage backed and asset backed (1)	331			$10		(39		)	(2		)	300
Equity securities:
U.S. common and preferred stock	1		(1		)
Real assets	5					(2		)				3
Total		$350		$9			($40	)		($4	)		$315

	January 1 2016 Balance		Net Realized and Unrealized Gains/(Losses)			Net Purchases, Issuances and Settlements			Net Transfers Out of Level 3			December 31 2016 Balance
Fixed income securities:
Corporate (1)		$11					($1	)		($3	)		$7
U.S. government and agencies	1											1
Mortgage backed and asset backed (1)	440			$7		(93		)	(18		)	336
Equity securities:
U.S. common and preferred stock	1											1
Non-U.S. common and preferred stock	2					(2		)
Private equity	3		(3		)
Real assets	6					(1		)				5
Total		$464		$4			($97	)		($21	)		$350

⁽¹⁾  Certain fixed income securities were reclassified between mortgage backed and asset backed to corporate on January 1, 2017 and 2016.

The changes in unrealized gains for Level 3 mortgage backed and asset backed fixed income securities still held at December 31, 2017 and 2016 were $6and$4.

OPB Plan Assets The majority of OPB plan assets are invested in a balanced index fund which is comprised of approximately 60% equities and 40% debt securities. The index fund is valued using a market approach based on the quoted market price of an identical instrument (Level 1). The expected rate of return on these assets does not have a material effect on the net periodic benefit cost.

Cash Flows

Contributions Required pension contributions under the Employee Retirement Income Security Act (ERISA), as well as rules governing funding of our non-US pension plans, are not expected to be significant in 2018. During the third quarter of 2017, we contributed $500 in cash and $3,500 in common stock. We do not expect to make contributions to our pension plans in 2018.

Estimated Future Benefit Payments The table below reflects the total pension benefits expected to be paid from the plans or from our assets, including both our share of the benefit cost and the participants’ share of the cost, which is funded by participant contributions. OPB payments reflect our portion only.

Year(s)	2018			2019			2020			2021			2022			2023-2027
Pensions		$4,758			$4,712			$4,740			$4,703			$4,631			$22,770
Other postretirement benefits:
Gross benefits paid	496			507			517			520			516			2,364
Subsidies	(16		)	(16		)	(17		)	(17		)	(17		)	(87		)
Net other postretirement benefits		$480			$491			$500			$503			$499			$2,277

Termination Provisions

Certain of the pension plans provide that, in the event there is a change in control of the Company which is not approved by the Board of Directors and the plans are terminated within five years thereafter, the assets in the plan first will be used to provide the level of retirement benefits required by ERISA, and then any surplus will be used to fund a trust to continue present and future payments under the postretirement medical and life insurance benefits in our group insurance benefit programs.

Should we terminate certain pension plans under conditions in which the plan’s assets exceed that plan’s obligations, the U.S. government will be entitled to a fair allocation of any of the plan’s assets based on plan contributions that were reimbursed under U.S. government contracts.

Defined Contribution Plans

We provide certain defined contribution plans to all eligible employees. The principal plans are the Company-sponsored 401(k) plans. The expense for these defined contribution plans was $1,522, $1,413 and $768 in 2017, 2016 and 2015, respectively.

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Share-Based Compensation And Other Compensation Arrangements

12 Months Ended

Dec. 31, 2017

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Share-Based Compensation And Other Compensation Arrangements

Share-Based Compensation and Other Compensation Arrangements

Share-Based Compensation

Our 2003 Incentive Stock Plan, as amended and restated, permits awards of incentive and non-qualified stock options, stock appreciation rights, restricted stock or units, performance shares, performance restricted stock or units, performance units and other stock and cash-based awards to our employees, officers, directors, consultants, and independent contractors. The aggregate number of shares of our stock authorized for issuance under the plan is 87,000,000.

Shares issued as a result of stock option exercises or conversion of stock unit awards will be funded out of treasury shares, except to the extent there are insufficient treasury shares, in which case new shares will be issued. We believe we currently have adequate treasury shares to satisfy these issuances during 2018.

Share-based plans expense is primarily included in General and administrative expense since it is incentive compensation issued primarily to our executives. The share-based plans expense and related income tax benefit were as follows:

Years ended December 31,	2017		2016		2015
Stock options				$4		$30
Restricted stock units and other awards	212		189		160
Share-based plans expense		$212		$193		$190
Income tax benefit		$46		$69		$68

Stock Options

We discontinued granting options in 2014, replacing them with performance-based restricted stock units. Options granted through January 2014 had an exercise price equal to the fair market value of our stock on the date of grant and expire ten years after the date of grant. The stock options vested over a period of three years and were fully vested at December 31, 2017.

Stock option activity for the year ended December 31, 2017 is as follows:

	Shares	Weighted Average Exercise Price Per Share		Weighted Average Remaining Contractual Life (Years)	Aggregate Intrinsic Value
Number of shares under option:
Outstanding at beginning of year	8,646,612		$72.64
Exercised	(4,224,194)	73.61
Expired	(5,200)	89.65
Outstanding at end of year	4,417,218		$71.69	3.93		$986
Exercisable at end of year	4,417,218		$71.69	3.93		$986

The total intrinsic value of options exercised during the years ended December 31, 2017, 2016 and 2015 was $491, $265 and $385, with a related tax benefit of $175, $94 and $135, respectively. The grant date fair value of stock options vested during the years ended December 31, 2017, 2016 and 2015 was $0, $27 and $56, respectively.

Restricted Stock Units

In February 2017, 2016 and 2015, we granted to our executives 523,835, 777,837 and 590,778restricted stock units (RSUs) as part of our long-term incentive program with grant date fair values of $178.72, $117.50 and $154.64 per unit, respectively. The RSUs 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. If an executive terminates employment because of retirement, involuntary layoff, disability, or death, the employee (or beneficiary) will receive a proration of stock units based on active employment during the three-year service period. In all other cases, the RSUs will not vest and all rights to the stock units will terminate. In addition to RSUs awarded under our long-term incentive program, we grant RSUs to certain executives and employees to encourage retention or to reward various achievements. These RSUs are labeled other RSUs in the table below. The fair values of all RSUs are estimated using the average of the high and low stock prices on the date of grant.

RSU activity for the year ended December 31, 2017 was as follows:

	Long-Term Incentive Program			Other
Number of units:
Outstanding at beginning of year	1,814,644			1,077,920
Granted	570,538			390,152
Dividends	45,799			30,477
Forfeited	(142,907		)	(40,670		)
Distributed	(660,972		)	(301,417		)
Outstanding at end of year	1,627,102			1,156,462
Unrecognized compensation cost		$98			$82
Weighted average remaining contractual life (years)	1.8			3.4

The number of vested but undistributed RSUs at December 31, 2017 was not significant.

Performance-Based Restricted Stock Units

Performance-Based Restricted Stock Units (PBRSUs) are stock units that pay out based on the Company’s total shareholder return as compared to a group of peer companies over a three-year period. The award payout can range from 0% to 200% of the initial PBRSU grant, but will not exceed 400% of the initial value (excluding dividend equivalent credits). The PBRSUs granted under this program will vest at the payout amount and settle in common stock (on a one-for-one basis) on the third anniversary of the grant date. If an executive terminates employment because of retirement, involuntary layoff, disability, or death, the employee (or beneficiary) remains eligible under the award and, if the award is earned, will receive a proration of stock units based on active employment during the three-year service period. In all other cases, the PBRSUs will not vest and all rights to the stock units will terminate.

In February 2017, 2016 and 2015, we granted to our executives 492,273, 721,176 and 556,203 PBRSUs as part of our long-term incentive program. Compensation expense for the award is recognized over the three-year performance period based upon the grant date fair value. The grant date fair values were estimated using a Monte-Carlo simulation model with the assumptions presented below. The model includes no expected dividend yield as the units earn dividend equivalents.

Grant Year	Grant Date	Performance Period	Expected Volatility		Risk Free Interest Rate		Grant Date Fair Value
2017	2/27/2017	3 years	21.37	%	1.46	%	190.17
2016	2/22/2016	3 years	22.44	%	0.92	%	126.74
2015	2/23/2015	3 years	20.35	%	1.03	%	164.26

PBRSU activity for the year ended December 31, 2017 was as follows:

	Long-Term Incentive Program
Number of units:
Outstanding at beginning of year	1,746,511
Granted	492,273
Performance based adjustment (1)	137,363
Dividends	54,683
Forfeited	(130,367		)
Distributed	(748,729		)
Outstanding at end of year	1,551,734
Unrecognized compensation cost		$90
Weighted average remaining contractual life (years)	1.8

⁽¹⁾  Represents net incremental number of units issued at vesting based on TSR for units granted in 2014

Other Compensation Arrangements

Performance Awards

Performance Awards are cash units that pay out based on the achievement of long-term financial goals at the end of a three-year period. Each unit has an initial value of $100 dollars. The amount payable at the end of the three-year performance period may be anywhere from $0 to $200 dollars per unit, depending on the Company’s performance against plan for a three-year period. The Compensation Committee has the discretion to pay these awards in cash, stock, or a combination of both after the three-year performance period. Compensation expense, based on the estimated performance payout, is recognized ratably over the performance period.

During 2017, 2016 and 2015, we granted Performance Awards to our executives as part of our long-term incentive program with the payout based on the achievement of financial goals for each three-year period following the grant date. The minimum payout amount is $0 and the maximum amount we could be required to pay out for the 2017, 2016 and 2015 Performance Awards is $352, $318 and $312, respectively. The 2015 grant is expected to be paid out in cash in March 2018.

Deferred Compensation

The Company has deferred compensation plans which permit employees to defer a portion of their salary, bonus, certain other incentive awards, and retirement contributions. Participants can diversify these amounts among 22 investment funds including a Boeing stock unit account.

Total expense related to deferred compensation was $240, $46 and $63 in 2017, 2016 and 2015, respectively. As of December 31, 2017 and 2016, the deferred compensation liability which is being marked to market was $1,547 and $1,289.

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Shareholders' Equity

12 Months Ended

Dec. 31, 2017

Stockholders' Equity Note [Abstract]

Shareholders' Equity

Shareholders’ Equity

On December 11, 2017, the Board approved a new repurchase plan for up to $18,000 of common stock, replacing the previously authorized program. The program will expire when we have used all authorized funds or is otherwise terminated.

As of December 31, 2017 and 2016, there were 1,200,000,000 shares of common stock and 20,000,000 shares of preferred stock authorized. No preferred stock has been issued.

Changes in Share Balances

The following table shows changes in each class of shares:

	Common Stock	Treasury Stock
Balance at January 1, 2015	1,012,261,159	305,533,606
Issued		(7,288,113	)
Acquired		47,391,861
Balance at December 31, 2015	1,012,261,159	345,637,354
Issued		(6,376,868	)
Acquired		55,849,082
Balance at December 31, 2016	1,012,261,159	395,109,568
Issued		(20,746,426	)
Acquired		46,859,184
Balance at December 31, 2017	1,012,261,159	421,222,326

Accumulated Other Comprehensive Loss

Changes in Accumulated other comprehensive loss (AOCI) by component for the years ended December 31, 2017, 2016 and 2015 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, 2015		$53			($8	)		($136	)		($13,812	)			($13,903	)
Other comprehensive (loss)/income before reclassifications	(92		)	8			(140		)	173				(51		)
Amounts reclassified from AOCI							79			1,127			(2)	1,206
Net current period Other comprehensive (loss)/income	(92		)	8			(61		)	1,300				1,155
Balance at December 31, 2015		($39	)		$—			($197	)		($12,512	)			($12,748	)
Other comprehensive loss before reclassifications	(104		)	(2		)	(8		)	(1,320		)		(1,434		)
Amounts reclassified from AOCI							78			481			(2)	559
Net current period Other comprehensive (loss)/income	(104		)	(2		)	70			(839		)		(875		)
Balance at December 31, 2016		($143	)		($2	)		($127	)		($13,351	)			($13,623	)
Other comprehensive income/(loss) before reclassifications	128			1			119			(478		)		(230		)
Amounts reclassified from AOCI							52			425			(2)	477
Net current period Other comprehensive income/(loss)	128			1			171			(53		)		247
Balance at December 31, 2017		($15	)		($1	)		$44			($13,404	)			($13,376	)

⁽¹⁾  Net of tax.

⁽²⁾  Primarily relates to amortization of actuarial losses for the years ended December 31, 2017, 2016, and 2015 totaling $542, $524, and $1,038 (net of tax of ($272), ($288), and ($570)), respectively. These are included in the net periodic pension cost of which a portion is allocated to production as inventoried costs. See Note 14.

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Derivative Financial Instruments

12 Months Ended

Dec. 31, 2017

Summary of Derivative Instruments [Abstract]

Derivative Financial Instruments

Derivative Financial Instruments

Cash Flow Hedges

Our cash flow hedges include foreign currency forward contracts 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 2024. We use commodity derivatives, such as fixed-price purchase commitments to hedge against potentially unfavorable price changes for items used in production. Our commodity contracts hedge forecasted transactions through 2021.

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 Consolidated Statements of Financial Position as of December 31 were as follows:

	Notional   amounts(1)				Other assets						Accrued liabilities
	2017		2016		2017			2016			2017			2016
Derivatives designated as hedging instruments:
Foreign exchange contracts		$2,930		$2,584		$131			$34			($63	)		($225	)
Interest rate contracts	125		125		3			6
Commodity contracts	56		53		4			7			(6		)	(5		)
Derivatives not receiving hedge accounting treatment:
Foreign exchange contracts	406		465		16			21			(5		)	(17		)
Commodity contracts	563		648											—
Total derivatives		$4,080		$3,875	154			68			(74		)	(247		)
Netting arrangements					(61		)	(45		)	61			45
Net recorded balance						$93			$23			($13	)		($202	)

⁽¹⁾  Notional amounts represent the gross contract/notional amount of the derivatives outstanding.

Gains/(losses) associated with our cash flow and undesignated hedging transactions and their effect on Other comprehensive income/(loss) and Net earnings were as follows:

Years ended December 31,	2017			2016
Effective portion recognized in Other comprehensive income/(loss), net of taxes:
Foreign exchange contracts		$123			($9	)
Commodity contracts	(4		)	1
Effective portion reclassified out of Accumulated other comprehensive loss into earnings, net of taxes:
Foreign exchange contracts	(50		)	(70		)
Commodity contracts	(2		)	(8		)
Forward points recognized in Other income, net:
Foreign exchange contracts	8			13
Undesignated derivatives recognized in Other income, net:
Foreign exchange contracts	8			(2		)

Based on our portfolio of cash flow hedges, we expect to reclassify losses of $12 (pre-tax) out of Accumulated other comprehensive loss into earnings during the next 12 months. Ineffectiveness related to our hedges recognized in Other income was insignificant for the years ended December 31, 2017 and 2016.

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 December 31, 2017 was $13. At December 31, 2017, there was no collateral posted related to our derivatives.

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Significant Group Concentrations Of Risk

12 Months Ended

Dec. 31, 2017

Risks and Uncertainties [Abstract]

Significant Group Concentrations Of Risk

Significant Group Concentrations of Risk

Credit Risk

Financial instruments involving potential credit risk are predominantly with commercial aircraft customers and the U.S. government. Of the $13,639 in gross accounts receivable and gross customer financing included in the Consolidated Statements of Financial Position as of December 31, 2017, $5,572 related predominantly to commercial aircraft customers ($2,512 of accounts receivable and $3,060 of customer financing) and $5,989 related to the U.S. government.

Of the $3,061 in gross customer financing, $1,828 related to customers we believe have less than investment-grade credit including Silk Way, American, and Hawaiian Airlines who were associated with 14%, 8%, and 7%, respectively, of our financing portfolio. Financing for aircraft is collateralized by security in the related asset and in some instances security in other assets as well.

Other Risk

As of December 31, 2017, approximately 37% of our total workforce was represented by collective bargaining agreements.

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Fair Value Measurements

12 Months Ended

Dec. 31, 2017

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.

	December 31, 2017								December 31, 2016
	Total			Level 1		Level 2			Total			Level 1		Level 2
Assets
Money market funds		$1,582			$1,582					$2,858			$2,858
Available-for-sale investments:
Commercial paper	70					70			162					162
Corporate notes	382					382			271					271
U.S. government agencies	47					47			63					63
Other	18			18					46			46
Derivatives	93					93			23						$23
Total assets		$2,192			$1,600		$592			$3,423			$2,904		$519
Liabilities
Derivatives		($13	)				($13	)		($202	)				($202	)
Total liabilities		($13	)				($13	)		($202	)				($202	)

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 years ended December 31 due to long-lived asset impairment, and the fair value and asset classification of the related assets as of the impairment date:

	2017					2016
	Fair Value		Total Losses			Fair Value		Total Losses
Investments		$1		($44	)
Operating lease equipment	90		(32		)		$84		($52	)
Other assets and Acquired intangible assets	14		(23		)	12		(10		)
Property, plant and equipment	8		(2		)	10		(9		)
Total		$113		($101	)		$106		($71	)

Investments, Acquired intangible assets and Property, plant and equipment 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 year ended December 31, 2017, 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	$90	Market approach	Aircraft value publications	$140 - $191(1) Median $167
			Aircraft condition adjustments	($77) - $0(2) Net ($77)

⁽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 Consolidated Statements of Financial Position at December 31 were as follows:

	December 31, 2017
	Carrying Amount			Total Fair Value			Level 1	Level 2			Level 3
Assets
Notes receivable, net		$677			$682				$682
Liabilities
Debt, excluding capital lease obligations and commercial paper	(10,380		)	(11,923		)		(11,823		)		($100	)

	December 31, 2016
	Carrying Amount			Total Fair Value			Level 1	Level 2			Level 3
Assets
Notes receivable, net		$807			$803				$803
Liabilities
Debt, excluding capital lease obligations	(9,815		)	(11,209		)		(11,078		)		($131	)

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, Accounts payable and long-term payables. The carrying values of those items, as reflected in the Consolidated Statements of Financial Position, approximate their fair value at December 31, 2017 and 2016. 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).

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Legal Proceedings

12 Months Ended

Dec. 31, 2017

Loss Contingency, Information about Litigation Matters [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.

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Segment Information

12 Months Ended

Dec. 31, 2017

Segment Reporting [Abstract]

Segment Information

Segment Information

Effective July 1, 2017, we now operate in four reportable segments: BCA, BDS, BGS, and BCC. The new segment, BGS, brings together the Commercial Aviation Services businesses, previously included in the BCA segment, and certain BDS businesses (primarily those previously included in the Global Services & Support segment). All other activities fall within Unallocated items, eliminations and other. See page 51 for the Summary of Business Segment Data, which is an integral part of this note. Prior year numbers have been revised to conform to the current segment presentation.

BCA develops, produces and markets commercial jet aircraft principally to the commercial airline industry worldwide.

BDS is engaged 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.

BGS provides parts, maintenance, modifications, logistics support, training, data analytics and information-based services to commercial and government customers worldwide.

BCC facilitates, arranges, structures and provides selective financing solutions for our Boeing customers.

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.

Revenues, including foreign military sales, are reported by customer location and consist of the following:

Years ended December 31,	2017		2016		2015
Asia, other than China		$8,899		$10,553		$13,433
Europe	11,457		13,790		12,248
China	11,911		10,312		12,556
Middle East	12,287		13,297		10,846
Oceania	2,061		1,843		2,601
Canada	2,197		2,076		1,870
Africa	755		1,999		1,398
Latin America, Caribbean and other	1,494		1,936		1,875
Total non-U.S. revenues	51,061		55,806		56,827
United States	42,331		38,765		39,287
Total revenues		$93,392		$94,571		$96,114

Revenues from the U.S. government (including foreign military sales through the U.S. government), primarily recorded at BDS and BGS, represented 31%, 23% and 27% of consolidated revenues for 2017, 2016 and 2015, respectively. Approximately 5% and 4% of operating assets were located outside the United States as of December 31, 2017 and 2016. The information in the following tables is derived directly from the segments’ internal financial reporting used for corporate management purposes.

Depreciation and Amortization

Years ended December 31,	2017		2016		2015
Commercial Airplanes		$521		$442		$388
Defense, Space, & Security	252		220		248
Global Services	322		312		317
Boeing Capital Corporation	70		83		87
Unallocated items, eliminations and other	904		853		793
Total		$2,069		$1,910		$1,833

Capital Expenditures

Years ended December 31,	2017		2016		2015
Commercial Airplanes		$636		$830		$819
Defense, Space, & Security	210		290		226
Global Services	180		209		132
Unallocated items, eliminations and other	713		1,284		1,273
Total		$1,739		$2,613		$2,450

Unallocated capital expenditures relate primarily to assets managed centrally on behalf of the five principal segments.

We recorded Earnings from operations associated with our equity method investments of $233, $303 and $274, primarily in our BDS segment, for the years ended December 31, 2017, 2016 and 2015, respectively.

For segment reporting purposes, we record Commercial Airplanes segment revenues and cost of sales for airplanes transferred to other segments. Such transfers may include airplanes accounted for as operating leases and considered transferred to the BCC segment and airplanes transferred to the BDS segment for further modification prior to delivery to the customer. In addition, BGS segment revenue and costs include certain services provided to other segments. The revenues and cost of sales for these transfers are eliminated in the Unallocated items and eliminations caption. For segment reporting purposes, we record BDS revenues and cost of sales for the modification performed on airplanes received from Commercial Airplanes when the airplane is delivered to the customer or at the attainment of performance milestones.

Intersegment revenues, eliminated in Unallocated items, eliminations and other, are shown in the following table.

Years ended December 31,	2017		2016		2015
Commercial Airplanes		$1,571		$2,001		$1,700
Global Services	49		75		95
Boeing Capital	28		16		15
Total		$1,648		$2,092		$1,810

Unallocated Items, Eliminations and other

Unallocated items, eliminations and other includes costs not attributable to business segments as well as intercompany profit eliminations. 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.

Years ended December 31,	2017			2016			2015
Share-based plans		($77	)		($66	)		($76	)
Deferred compensation	(240		)	(46		)	(63		)
Amortization of previously capitalized interest	(98		)	(94		)	(90		)
Eliminations and other unallocated items	(640		)	(527		)	(511		)
Sub-total	(1,055		)	(733		)	(740		)
Pension	1,120			217			(421		)
Postretirement	188			153			123
Pension and Postretirement	1,308			370			(298		)
Total		$253			($363	)		($1,038	)

Unallocated Pension and Other Postretirement Benefit Expense

Unallocated pension and other postretirement benefit expense represent the portion of pension and other postretirement benefit costs that are not recognized by business segments for segment reporting purposes. Pension costs, comprising GAAP service and prior service costs, are allocated to BCA. 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.

Assets

Segment assets are summarized in the table below.

December 31,	2017		2016
Commercial Airplanes		$47,737		$46,745
Defense, Space & Security	15,865		14,123
Global Services	12,353		11,490
Boeing Capital	3,156		4,139
Unallocated items, eliminations and other	13,222		13,500
Total		$92,333		$89,997

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.

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Quarterly Financial Data

12 Months Ended

Dec. 31, 2017

Quarterly Financial Information Disclosure [Abstract]

Quarterly Financial Data (unaudited)

Quarterly Financial Data (Unaudited)

	2017												2016
	4th			3rd			2nd			1st			4th			3rd			2nd			1st
Total revenues		$25,368			$24,309			$22,739			$20,976			$23,286			$23,898			$24,755			$22,632
Total costs and expenses	(20,427		)	(19,987		)	(18,388		)	(17,264		)	(19,464		)	(19,904		)	(22,325		)	(19,097		)
Earnings from operations	3,030			2,689			2,535			2,024			2,183			2,282			(419		)	1,788
Net earnings/(loss)	3,132			1,853			1,761			1,451			1,631			2,279			(234		)	1,219
Basic earnings/(loss) per share	5.25			3.10			2.93			2.36			2.63			3.64			(0.37		)	1.85
Diluted earnings/(loss) per share	5.18			3.06			2.89			2.34			2.59			3.60			(0.37		)	1.83
Cash dividends declared per share	3.13						2.84						2.51						2.18
Common stock sales price per share:
High	299.33			259.30			204.39			185.71			160.07			139.45			137.89			141.70
Low	253.53			197.75			175.47			155.21			130.74			123.96			122.35			102.10
Quarter end	294.91			254.21			197.75			176.86			155.68			131.74			129.87			126.94

Gross profit is calculated as Total revenues minus Total costs and expenses. Total costs and expenses includes Cost of products, Cost of services and Boeing Capital interest expense.

During the fourth quarter of 2017, as a result of the enactment of the TCJA, we recorded incremental tax benefits of $1,051, primarily related to the remeasurement of net U.S. deferred tax liabilities.

During 2017 and 2016, higher estimated costs to complete the KC-46A Tanker contract for the U.S. Air Force resulted in reach-forward losses. We recorded $329 and $142 in the third and first quarter of 2017. We recorded $312, $573 and $243 in the fourth, second and first quarter of 2016, respectively.

During the third quarter of 2016, delays in completion of engineering and supply chain activities for the Commercial Crew program resulted in a charge of $162.

During the second quarter of 2016 and first quarter of 2016, we recorded reach-forward losses of $1,188 and $70 on the 747 program.

During the second quarter of 2016, we determined that the fourth and fifth flight test aircraft for the 787 program are not commercially saleable, and we reclassified costs of $1,235 associated with these aircraft from 787 program inventory to research and development expense.

During the third quarter of 2016, we recorded an incremental tax benefit of $440that related to the application of a 2012 Federal Court of Claims decision. We also recorded a tax benefit of $177as a result of the 2011-2012 federal tax audit settlements.

We increased our quarterly dividend from $1.09 to $1.42 in December 2016 and to $1.71 in December 2017.

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Summary Of Significant Accounting Policies (Policy)

12 Months Ended

Dec. 31, 2017

Accounting Policies [Abstract]

Principles Of Consolidation And Basis Of Presentation

Principles of Consolidation and Basis of Presentation

The Consolidated 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”). These statements include the accounts of all majority-owned subsidiaries and variable interest entities that are required to be consolidated. All significant intercompany accounts and transactions have been eliminated. As described in Note 21, effective July 1, 2017, we now operate in four reportable segments: Commercial Airplanes (BCA); Defense, Space & Security (BDS), Global Services (BGS), and Boeing Capital (BCC). Amounts in prior periods have been reclassified to conform to the current year presentation.

Description of New Accounting Pronouncements Not yet Adopted

Standards Issued and Not Yet Implemented

In February 2016, the Financial Accounting Standards Board issued Accounting Standards Update (ASU) No. 2016-02, Leases(Topic 842). The new standard is effective for reporting periods beginning after December 15, 2018 and early adoption is permitted. The standard will require lessees to report most leases as assets and liabilities on the balance sheet, while lessor accounting will remain substantially unchanged. The standard requires a modified retrospective transition approach for existing leases, whereby the new rules will be applied to the earliest year presented. We plan to adopt the new lease standard in 2019 and do not expect it to have a material effect on our financial position, results of operations or cash flows.

We are adopting ASU No. 2014-09, Revenue from Contracts with Customers (Topic 606) in the first quarter of 2018 using the retrospective transition method which will require 2016 and 2017 financial statements to be restated. The new standard requires revenue to be recognized when promised goods or services are transferred to customers in amounts that reflect the consideration to which the company expects to be entitled in exchange for those goods or services. The standard also requires expanded disclosures regarding revenue and contracts with customers.

Most of our defense contracts at BDS and BGS that have historically recognized revenue as deliveries are made or based on the attainment of performance milestones will recognize revenue under the new standard over time as costs are incurred. Certain military derivative aircraft contracts included in our BCA segment will also recognize revenue as costs are incurred. The new standard will not change the total amount of revenue recognized on these contracts, only accelerate the timing of when the revenue is recognized. In addition, the timing of cost of sales recognition for these contracts will be accelerated, resulting in a decrease in Inventories from long-term contracts in progress.

The new standard will not affect revenue recognition or the use of program accounting for commercial airplane contracts. We will continue to recognize revenue for these contracts at the point in time when the customer accepts delivery of the airplane.

Because revenue will be recognized under the new standard as costs are incurred for most of our defense and military derivative airplane contracts, approximately $10,000 of revenues and $1,300 of associated operating earnings will be accelerated into years ending prior to January 1, 2016. The restatement will result in a cumulative adjustment to increase retained earnings by $900 effective January 1, 2016. Restated income statements for 2016 and 2017 are shown below.

We are also adopting ASU No. 2017-07,Compensation - Retirement Benefits (Topic 715): Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost in the first quarter of 2018. The standard requires non-service cost components of net periodic benefit cost to be presented in non-operating earnings using a retrospective transition method which will require us to restate 2016 and 2017 in the first quarter of 2018. In addition, only service costs may be allocated to production costs and capitalized in inventory on a prospective basis effective January 1, 2018. Adoption in the first quarter of 2018 is expected to result in a reclassification of non-service cost components of net periodic benefit cost of $6 in 2017 and $478 in 2016 from Earnings from Operations to Other income/(loss), net. We applied a practical expedient as the estimation basis for this reclassification. Adoption of the new pension standard will not affect previously reported financial position, earnings per share, or cash flows.

The impact to our 2017 and 2016 operating results as a result of adopting ASC Topic 606 and ASU No. 2017-07 is presented in the tables below:

	Reported			Restated			Reported			Restated
Years ended December 31,	2017			2017			2016			2016
Revenues:
Commercial Airplanes		$56,729			$58,014			$58,012			$59,378
Defense, Space & Security	21,057			20,561			22,563			20,180
Global Services	14,639			14,581			13,925			13,819
Boeing Capital	307			307			298			298
Unallocated items, eliminations and other	660			542			(227		)	(179		)
Total revenues		$93,392			$94,005			$94,571			$93,496
Earnings from operations:
Commercial Airplanes		$5,432			$5,452			$1,995			$1,981
Defense, Space & Security	2,223			2,193			1,966			1,678
Global Services	2,256			2,246			2,177			2,159
Boeing Capital	114			114			59			59
Segment operating profit	10,025			10,005			6,197			5,877
Unallocated items, eliminations and other	253			(1,099		)	(363		)	(707		)
FAS/CAS service cost adjustment (1)				1,438						1,357
Earnings from operations	10,278			10,344			5,834			6,527
Other income/(loss), net (1)	129			123			40			(438		)
Interest and debt expense	(360		)	(360		)	(306		)	(306		)
Earnings before income taxes	10,047			10,107			5,568			5,783
Income tax expense	(1,850		)	(1,649		)	(673		)	(749		)
Net earnings		$8,197			$8,458			$4,895			$5,034
Diluted earnings per share		$13.43			$13.85			$7.61			$7.83

⁽¹⁾  The FAS/CAS service cost adjustment represents the difference between the pension and postretirement service costs calculated under Generally Accepted Accounting Principles (GAAP) and costs allocated to the business segments which are based on U.S. Government Cost Accounting Standards for our defense businesses. Restated Other income/(loss), net includes the non-service cost components of net periodic benefit cost.

In addition to the income statement changes described above, adoption of ASC Topic 606 is expected to increase total assets and total liabilities at December 31, 2017 and 2016 by approximately $20,000 and $19,000 primarily due to classifying certain advances from customers as liabilities under the new standard, whereas these advances were netted against inventory under existing GAAP. Adoption of ASU No. 2017-07 has no impact on total assets and total liabilities. The new standards have no impact on cash flows reported in 2017 and 2016. The impact of the new revenue standard on our 2017 and 2016 financial results may not be representative of the impact on our financial position and operating results in subsequent years. ASC Topic 606 requires additional detailed disclosures regarding the Company’s contracts with customers, including disclosure of remaining unsatisfied performance obligations, in the first quarter of 2018 which we are continuing to assess. We have identified and implemented changes to the Company’s business processes, systems and controls to support adoption of the new standard.

Use Of Estimates

Use of Estimates

Management makes assumptions and estimates to prepare financial statements in conformity with accounting principles generally accepted in the United States of America. Those assumptions and estimates directly affect the amounts reported in the Consolidated Financial Statements. Significant estimates for which changes in the near term are considered reasonably possible and that may have a material impact on the financial statements are disclosed in these Notes to the Consolidated Financial Statements.

Operating Cycle

Operating Cycle

For classification of certain current assets and liabilities, we use the duration of the related contract or program as our operating cycle, which is generally longer than one year.

Revenue And Related Cost Recognition

Revenue and Related Cost Recognition

Contract Accounting Contract accounting is used for development and production activities predominantly by BDS and for defense contracts at BGS. The majority of these activities are performed under contracts with the U.S. government and other customers that extend over several years. Contract accounting involves a judgmental process of estimating total sales and costs for each contract resulting in the development of estimated cost of sales percentages. For each contract, the amount reported as cost of sales is determined by applying the estimated cost of sales percentage to the amount of revenue recognized. When the current estimates of total sales and costs for a contract indicate a loss, a provision for the entire loss on the contract is recognized.

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 contract’s percent complete. Net cumulative catch-up adjustments to prior years’ earnings, including reach-forward losses, across all contracts were as follows:

	2017		2016			2015
Increase/(decrease) to Earnings from Operations		$14		($912	)		($224	)
Increase/(decrease) to Diluted EPS		$0.02		($1.25	)		($0.23	)

Significant adjustments during the three years ended December 31, 2017 included reach-forward losses of $471, $1,128 and $835 on the USAF KC-46A Tanker contract recorded during 2017, 2016 and 2015.

We combine contracts for accounting purposes when they are negotiated as a package with an overall profit margin objective. These essentially represent an agreement to do a single project for a single customer, involve interrelated construction activities with substantial common costs, and are performed concurrently or sequentially. When a group of contracts is combined, revenue and profit are earned uniformly over the performance of the combined contracts. Similarly, we may segment a single contract or group of contracts when a clear economic decision has been made during contract negotiations that would produce different rates of profitability for each element or phase of the contract.

Sales related to fixed-price contracts are recognized as deliveries are made, except for certain fixed-price contracts that require substantial performance over an extended period before deliveries begin, for which sales are recorded based on the attainment of performance milestones. Sales related to contracts in which we are reimbursed for costs incurred plus an agreed upon profit are recorded as costs are incurred. The Federal Acquisition Regulations provide guidance on the types of cost that will be reimbursed in establishing contract price. Contracts may contain provisions to earn incentive and award fees if specified targets are achieved. Incentive and award fees that can be reasonably estimated and are probable are recorded over the performance period of the contract. Incentive and award fees that cannot be reasonably estimated are recorded when awarded.

Program Accounting Our Commercial Airplanes segment uses program accounting to account for cost of sales related to its programs. Program accounting is applicable to products manufactured for delivery under production-type contracts where profitability is realized over multiple contracts and years. Under program accounting, inventoriable production costs, program tooling and other non-recurring costs, and warranty costs are accumulated and charged to cost of sales by program instead of by individual units or contracts. A program consists of the estimated number of units (accounting quantity) of a product to be produced in a continuing, long-term production effort for delivery under existing and anticipated contracts. The determination of the accounting quantity is limited by the ability to make reasonably dependable estimates of the revenue and cost of existing and anticipated contracts. To establish the relationship of sales to cost of sales, program accounting requires estimates of (a) the number of units to be produced and sold in a program, (b) the period over which the units can reasonably be expected to be produced, and (c) the units’ expected sales prices, production costs, program tooling and other non-recurring costs, and routine warranty costs for the total program.

We recognize sales for commercial airplane deliveries as each unit is completed and accepted by the customer. Sales recognized represent the price negotiated with the customer, adjusted by an escalation formula as specified in the customer agreement. The amount reported as cost of sales is determined by applying the estimated cost of sales percentage for the total remaining program to the amount of sales recognized for airplanes delivered and accepted by the customer. Changes in estimated revenues, cost of sales and the related effects on program margins are recognized prospectively except in cases where the program is determined to have a reach-forward loss in which case the loss is recognized in the current period. Reductions to a reach-forward loss are spread over all undelivered units in the accounting quantity, whereas increases to the estimated loss are recorded immediately. See Note 11.

Concession Sharing Arrangements We account for sales concessions to our customers in consideration of their purchase of products and services as a reduction to revenue when the related products and services are delivered. The sales concessions incurred may be partially reimbursed by certain suppliers in accordance with concession sharing arrangements. We record these reimbursements, which are presumed to represent reductions in the price of the vendor’s products or services, as a reduction in Cost of products.

Spare Parts Revenue We recognize sales of spare parts upon delivery and the amount reported as cost of sales is recorded at average cost.

Service Revenue Service revenue is recognized when the service is performed with the exception of U.S. government service agreements, which are accounted for using contract accounting. Service activities primarily include: support agreements associated with military aircraft and helicopter contracts, space travel on Commercial Crew, ongoing maintenance of International Space Station, military and commercial aircraft training contracts, fleet care, and technical and flight operation services for commercial aircraft. Service revenue and associated cost of sales from pay-in-advance subscription fees are deferred and recognized as services are rendered.

Financial Services Revenue We record financial services revenue associated with sales-type/finance leases, operating leases, and notes receivable.

Lease and financing revenue arrangements are included in Sales of services on the Consolidated Statements of Operations. For sales-type/finance leases, we record an asset at lease inception. This asset is recorded at the aggregate of future minimum lease payments, estimated residual value of the leased equipment, and deferred incremental direct costs less unearned income. Income is recognized over the life of the lease to approximate a level rate of return on the net investment. Residual values, which are reviewed periodically, represent the estimated amount we expect to receive at lease termination from the disposition of the leased equipment. Actual residual values realized could differ from these estimates. Declines in estimated residual value that are deemed other-than-temporary are recognized in the period in which the declines occur.

For operating leases, revenue on leased aircraft and equipment is recorded on a straight-line basis over the term of the lease. Operating lease assets, included in Customer financing, are recorded at cost and depreciated over the period that we project we will hold the asset to an estimated residual value, using the straight-line method. We periodically review our estimates of residual value and recognize forecasted changes by prospectively adjusting depreciation expense.

For notes receivable, notes are recorded net of any unamortized discounts and deferred incremental direct costs. Interest income and amortization of any discounts are recorded ratably over the related term of the note.

Reinsurance Revenue Our wholly-owned insurance subsidiary, Astro Ltd., participates in a reinsurance pool for workers’ compensation. The member agreements and practices of the reinsurance pool minimize any participating members’ individual risk. Reinsurance revenues were $141, $147 and $136 during 2017, 2016 and 2015, respectively. Reinsurance costs related to premiums and claims paid to the reinsurance pool were $144, $139 and $132 during 2017, 2016 and 2015, respectively. Revenues and costs are presented net in Cost of sales in the Consolidated Statements of Operations.

Fleet Support

Fleet Support

We provide assistance and support to facilitate efficient and safe aircraft operation to the operators of all our commercial airplane models. Collectively known as fleet support, these activities and support services include flight and maintenance training, field service support, engineering support, and technical data and documents. Fleet support activity begins prior to aircraft delivery as the customer receives training, manuals, and technical consulting support. This activity continues throughout the aircraft’s operational life. Services provided after delivery include field service support, consulting on maintenance, repair, and operational issues brought forth by the customer or regulators, updating manuals and engineering data, and the issuance of service bulletins that impact the entire model’s fleet. Field service support involves our personnel located at customer facilities providing and coordinating fleet support activities and requests. The costs for fleet support are expensed as incurred as Cost of services.

Research And Development

Research and Development

Research and development includes costs incurred for experimentation, design, and testing, as well as bid and proposal efforts related to government products and services which are expensed as incurred unless the costs are related to certain contractual arrangements with customers. Costs that are incurred pursuant to such contractual arrangements are recorded over the period that revenue is recognized, consistent with our contract accounting policy. We have certain research and development arrangements that meet the requirement for best efforts research and development accounting. Accordingly, the amounts funded by the customer are recognized as an offset to our research and development expense rather than as contract revenues. Research and development expense included bid and proposal costs of $288, $311 and $286 in 2017, 2016 and 2015, respectively.

Share-Based Compensation

Share-Based Compensation

We provide various forms of share-based compensation to our employees. For awards settled in shares, we measure compensation expense based on the grant-date fair value net of estimated forfeitures. For awards settled in cash, or that may be settled in cash, we measure compensation expense based on the fair value at each reporting date net of estimated forfeitures. The expense is recognized over the requisite service period, which is generally the vesting period of the award.

Income Taxes

Income Taxes

Provisions for U.S. federal, state and local, and non-U.S. income taxes are calculated on reported Earnings before income taxes based on current tax law and also include, in the current period, the cumulative effect of any changes in tax rates from those used previously in determining deferred tax assets and liabilities. Such provisions differ from the amounts currently receivable or payable because certain items of income and expense are recognized in different time periods for financial reporting purposes than for income tax purposes. Significant judgment is required in determining income tax provisions and evaluating tax positions.

The accounting for uncertainty in income taxes requires a more-likely-than-not threshold for financial statement recognition and measurement of tax positions taken or expected to be taken in a tax return. We record a liability for the difference between the benefit recognized and measured for financial statement purposes and the tax position taken or expected to be taken on our tax return. To the extent that our assessment of such tax positions changes, the change in estimate is recorded in the period in which the determination is made. Tax-related interest and penalties are classified as a component of Income tax expense.

Postretirement Plans

Postretirement Plans

The majority of our employees have earned benefits under defined benefit pension plans. Nonunion and the majority of union employees that had participated in defined benefit pension plans transitioned to a company-funded defined contribution retirement savings plan in 2016. We also provide postretirement benefit plans other than pensions, consisting principally of health care coverage to eligible retirees and qualifying dependents. Benefits under the pension and other postretirement benefit plans are generally based on age at retirement and years of service and, for some pension plans, benefits are also based on the employee’s annual earnings. The net periodic cost of our pension and other postretirement plans is determined using the projected unit credit method and several actuarial assumptions, the most significant of which are the discount rate, the long-term rate of asset return, and medical trend (rate of growth for medical costs). A portion of net periodic pension and other postretirement income or expense is not recognized in net earnings in the year incurred because it is allocated to production as product costs, and reflected in inventory at the end of a reporting period. Actuarial gains and losses, which occur when actual experience differs from actuarial assumptions, are reflected in Shareholders’ equity (net of taxes). If actuarial gains and losses exceed ten percent of the greater of plan assets or plan liabilities we amortize them over the average future service period of employees. The funded status of our pension and postretirement plans is reflected on the Consolidated Statements of Financial Position.

Postemployment Plans

Postemployment Plans

We record a liability for postemployment benefits, such as severance or job training, when payment is probable, the amount is reasonably estimable, and the obligation relates to rights that have vested or accumulated.

Environmental Remediation

Environmental Remediation

We are subject to federal and state requirements for protection of the environment, including those for discharge of hazardous materials and remediation of contaminated sites. We routinely assess, based on in-depth studies, expert analyses and legal reviews, our contingencies, obligations, and commitments for remediation of contaminated sites, including assessments of ranges and probabilities of recoveries from other responsible parties and/or insurance carriers. Our policy is to accrue and charge to current expense identified exposures related to environmental remediation sites when it is probable that a liability has been incurred and the amount can be reasonably estimated. The amount of the liability is based on our best estimate or the low end of a range of reasonably possible exposure for investigation, cleanup, and monitoring costs to be incurred. Estimated remediation costs are not discounted to present value as the timing of payments cannot be reasonably estimated. We may be able to recover a portion of the remediation costs from insurers or other third parties. Such recoveries are recorded when realization of the claim for recovery is deemed probable.

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 December 31, 2017 and 2016, the high end of the estimated range of reasonably possible remediation costs exceeded our recorded liabilities by $868 and $857.

Cash And Cash Equivalents

Cash and Cash Equivalents

Cash and cash equivalents consist of highly liquid instruments, such as commercial paper, time deposits, and other money market instruments, which have original maturities of three months or less. We aggregate our cash balances by bank where conditions for right of set-off are met, and reclassify any negative balances, consisting mainly of uncleared checks, to Accounts payable. Negative balances reclassified to Accounts payable were $116 and $77 at December 31, 2017 and 2016.

Inventories

Inventories

Inventoried costs on commercial aircraft programs and long-term contracts include direct engineering, production and tooling and other non-recurring costs, and applicable overhead, which includes fringe benefits, production related indirect and plant management salaries and plant services, not in excess of estimated net realizable value. To the extent a material amount of such costs are related to an abnormal event or are fixed costs not appropriately attributable to our programs or contracts, they are expensed in the current period rather than inventoried. Inventoried costs include amounts relating to programs and contracts with long-term production cycles, a portion of which is not expected to be realized within one year. Included in inventory for federal government contracts is an allocation of allowable costs related to manufacturing process reengineering.

Commercial aircraft programs inventory includes deferred production costs and supplier advances. Deferred production costs represent actual costs incurred for production of early units that exceed the estimated average cost of all units in the program accounting quantity. Higher production costs are experienced at the beginning of a new or derivative airplane program. Units produced early in a program require substantially more effort (labor and other resources) than units produced later in a program because of volume efficiencies and the effects of learning. We expect that these deferred costs will be fully recovered when all units included in the accounting quantity are delivered as the expected unit cost for later deliveries is below the estimated average cost of all units in the program. Supplier advances represent payments for parts we have contracted to receive from suppliers in the future. As parts are received, supplier advances are amortized to work in process.

The determination of net realizable value of long-term contract costs is based upon quarterly reviews that estimate costs to be incurred to complete all contract requirements. When actual contract costs and the estimate to complete exceed total estimated contract revenues, a loss provision is recorded. The determination of net realizable value of commercial aircraft program costs is based upon quarterly program reviews that estimate revenue and cost to be incurred to complete the program accounting quantity. When estimated costs to complete exceed estimated program revenues to go, a program loss provision is recorded in the current period for the estimated loss on all undelivered units in the accounting quantity.

Used aircraft purchased by the Commercial Airplanes segment and general stock materials are stated at cost not in excess of net realizable value. See ‘Aircraft Valuation’ within this Note for a discussion of our valuation of used aircraft. Spare parts inventory is stated at lower of average unit cost or net realizable value. We review our commercial spare parts and general stock materials quarterly to identify impaired inventory, including excess or obsolete inventory, based on historical sales trends, expected production usage, and the size and age of the aircraft fleet using the part. Impaired inventories are charged to Cost of products in the period the impairment occurs.

Included in inventory for commercial aircraft programs are amounts paid or credited in cash, or other consideration to certain airline customers, that are referred to as early issue sales consideration. Early issue sales consideration is recognized as a reduction to revenue when the delivery of the aircraft under contract occurs. If an airline customer does not perform and take delivery of the contracted aircraft, we believe that we would have the ability to recover amounts paid. However, to the extent early issue sales consideration exceeds advances and is not considered to be otherwise recoverable, it would be written off in the current period.

We net advances and progress billings on long-term contracts against inventory in the Consolidated Statements of Financial Position. Advances and progress billings in excess of related inventory are reported in Advances and billings in excess of related costs.

Precontract Costs

Precontract Costs

We may, from time to time, incur costs in excess of the amounts required for existing contracts. If we determine the costs are probable of recovery from future orders, then we capitalize the precontract costs we incur, excluding start-up costs which are expensed as incurred. Capitalized precontract costs are included in Inventories, net of advances and progress billings, in the accompanying Consolidated Statements of Financial Position. Should future orders not materialize or we determine the costs are no longer probable of recovery, the capitalized costs would be written off.

Property, Plant And Equipment

Property, Plant and Equipment

Property, plant and equipment are recorded at cost, including applicable construction-period interest, less accumulated depreciation and are depreciated principally over the following estimated useful lives: new buildings and land improvements, from 10 to 40 years; and new machinery and equipment, from 4 to 20 years. The principal methods of depreciation are as follows: buildings and land improvements, 150% declining balance; and machinery and equipment, sum-of-the-years’ digits. Capitalized internal use software is included in Other assets and amortized using the straight line method over 5 years. We periodically evaluate the appropriateness of remaining depreciable lives assigned to long-lived assets, including assets that may be subject to a management plan for disposition.

Long-lived assets held for sale are stated at the lower of cost or fair value less cost to sell. Long-lived assets held for use are subject to an impairment assessment whenever events or changes in circumstances indicate that the carrying amount may not be recoverable. If the carrying value is no longer recoverable based upon the undiscounted future cash flows of the asset, the amount of the impairment is the difference between the carrying amount and the fair value of the asset.

Asset Retirement Obligations

Asset Retirement Obligations

We record all known asset retirement obligations for which the liability’s fair value can be reasonably estimated, including certain asbestos removal, asset decommissioning and contractual lease restoration obligations. Recorded amounts are not material.

We also have known conditional asset retirement obligations, such as certain asbestos remediation and asset decommissioning activities to be performed in the future, that are not reasonably estimable due to insufficient information about the timing and method of settlement of the obligation. Accordingly, these obligations have not been recorded in the Consolidated Financial Statements. A liability for these obligations will be recorded in the period when sufficient information regarding timing and method of settlement becomes available to make a reasonable estimate of the liability’s fair value. In addition, there may be conditional asset retirement obligations that we have not yet discovered (e.g., asbestos may exist in certain buildings but we have not become aware of it through the normal course of business), and therefore, these obligations also have not been included in the Consolidated Financial Statements.

Goodwill And Other Acquired Intangibles

Goodwill and Other Acquired Intangibles

Goodwill and other acquired intangible assets with indefinite lives are not amortized, but are tested for impairment annually and when an event occurs or circumstances change such that it is more likely than not that an impairment may exist. Our annual testing date is April 1.

We test goodwill for impairment by performing a qualitative assessment or using a two-step impairment process. If we choose to perform a qualitative assessment and determine it is more likely than not that the carrying value of the net assets is more than the fair value of the related operations, the two-step impairment process is then performed; otherwise, no further testing is required. For operations where the two-step impairment process is used, we first compare the carrying value of net assets to the fair value of the related operations. If the fair value is determined to be less than carrying value, a second step is performed to compute the amount of the impairment. In this process, a fair value for goodwill is estimated, based in part on the fair value of the operations, and is compared to its carrying value. The shortfall of the fair value below carrying value represents the amount of goodwill impairment.

Indefinite-lived intangibles consist of brand and trade names acquired in business combinations. We test these intangibles for impairment by comparing their carrying value to current projections of discounted cash flows attributable to the brand and trade names. Any excess carrying value over the amount of discounted cash flows represents the amount of the impairment.

Our finite-lived acquired intangible assets are amortized on a straight-line basis over their estimated useful lives as follows: developed technology, from 4 to 14 years; product know-how, from 3 to 30 years; customer base, from 3 to 17 years; distribution rights, from 3 to 27 years; and other, from 2 to 32 years. We evaluate the potential impairment of finite-lived acquired intangible assets whenever events or changes in circumstances indicate that the carrying amount may not be recoverable. If the carrying value is no longer recoverable based upon the undiscounted future cash flows of the asset, the amount of the impairment is the difference between the carrying amount and the fair value of the asset.

Investments

Investments

Time deposits are held-to-maturity investments that are carried at cost.

Available-for-sale securities include commercial paper, U.S. government agency securities, and corporate debt securities. Available-for-sale securities are recorded at fair value, and unrealized gains and losses are recorded, net of tax, as a component of accumulated other comprehensive income. Realized gains and losses on available-for-sale securities are recognized based on the specific identification method. Available-for-sale securities are assessed for impairment quarterly.

The equity method of accounting is used to account for investments for which we have the ability to exercise significant influence, but not control, over an investee. Significant influence is generally deemed to exist if we have an ownership interest in the voting stock of an investee of between 20% and 50%.

We classify investment income and loss on our Consolidated Statements of Operations based on whether the investment is operating or non-operating in nature. Operating investments align strategically and are integrated with our operations. Earnings from operating investments, including our share of income or loss from equity method investments, dividend income from certain cost method investments, and any impairments or gain/loss on the disposition of these investments, are recorded in Income from operating investments, net. Non-operating investments are those we hold for non-strategic purposes. Earnings from non-operating investments, including interest and dividends on marketable securities, and any impairments or gain/loss on the disposition of these investments are recorded in Other income/(expense), net.

Derivatives

Derivatives

All derivative instruments are recognized in the financial statements and measured at fair value regardless of the purpose or intent of holding them. We use derivative instruments to principally manage a variety of market risks. For derivatives designated as hedges of the exposure to changes in fair value of the recognized asset or liability or a firm commitment (referred to as fair value hedges), the gain or loss is recognized in earnings in the period of change together with the offsetting loss or gain on the hedged item attributable to the risk being hedged. The effect of that accounting is to include in earnings the extent to which the hedge is not effective in achieving offsetting changes in fair value. For our cash flow hedges, the effective portion of the derivative’s gain or loss is initially reported in comprehensive income and is subsequently reclassified into earnings in the same period or periods during which the hedged forecasted transaction affects earnings. The ineffective portion of the gain or loss of a cash flow hedge is reported in earnings immediately. We have agreements to purchase and sell aluminum to address long-term strategic sourcing objectives and international business requirements. These agreements are derivatives for accounting purposes but are not designated for hedge accounting treatment. We also hold certain derivative instruments for economic purposes that are not designated for hedge accounting treatment. For these aluminum agreements and for other derivative instruments not designated for hedge accounting treatment, the changes in their fair value are recorded in earnings immediately.

Aircraft Valuation

Aircraft Valuation

Used aircraft under trade-in commitments and aircraft under repurchase commitments In conjunction with signing a definitive agreement 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. Additionally, we have entered into contingent repurchase commitments with certain customers wherein we agree to repurchase the Sale Aircraft at a specified price, generally 10 to 15 years after delivery of the Sale Aircraft. Our repurchase of the Sale Aircraft is contingent upon a future, mutually acceptable agreement for the sale of additional new aircraft. If we execute an agreement for the sale of additional new aircraft, and if the customer exercises its right to sell the Sale Aircraft to us, a contingent repurchase commitment would become a trade-in commitment. Our historical experience is that contingent repurchase commitments infrequently become trade-in commitments.

Exposure related to trade-in commitments may take the form of:

(1) adjustments to revenue for the difference between the contractual trade-in price in the definitive agreement and our best estimate of the fair value of the trade-in aircraft as of the date of such agreement, which would be recognized upon delivery of the Sale Aircraft, and/or

(2) charges to cost of products for adverse changes in the fair value of trade-in aircraft that occur subsequent to signing of a definitive agreement for Sale Aircraft but prior to the purchase of the used trade-in aircraft. Estimates based on current aircraft values would be included in Accrued liabilities.

The fair value of trade-in aircraft is determined using aircraft-specific data such as model, age and condition, market conditions for specific aircraft and similar models, and multiple valuation sources. This process uses our assessment of the market for each trade-in aircraft, which in most instances begins years before the return of the aircraft. There are several possible markets in which we continually pursue opportunities to place used aircraft. These markets include, but are not limited to, the resale market, which could potentially include the cost of long-term storage; the leasing market, with the potential for refurbishment costs to meet the leasing customer’s requirements; or the scrap market. Trade-in aircraft valuation varies significantly depending on which market we determine is most likely for each aircraft. On a quarterly basis, we update our valuation analysis based on the actual activities associated with placing each aircraft into a market or using current published third-party aircraft valuations based on the type and age of the aircraft, adjusted for individual attributes and known conditions.

Used aircraft acquired by the Commercial Airplanes segment are included in Inventories at the lower of cost or net realizable value as it is our intent to sell these assets. To mitigate costs and enhance marketability, aircraft may be placed on operating lease. While on operating lease, the assets are included in Customer financing.

Customer financing Customer financing includes operating lease equipment, notes receivable, and sales-type/finance leases. Sales-type/finance leases are treated as receivables, and allowances for losses are established as necessary.

We assess the fair value of the assets we own, including equipment under operating leases, assets held for sale or re-lease, and collateral underlying receivables, to determine if their fair values are less than the related assets’ carrying values. Differences between carrying values and fair values of sales-type/finance leases and notes and other receivables, as determined by collateral value, are considered in determining the allowance for losses on receivables.

We use a median calculated from published collateral values from multiple third-party aircraft value publications based on the type and age of the aircraft to determine the fair value of aircraft. Under certain circumstances, we apply judgment based on the attributes 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 outside publications.

Impairment review for assets under operating leases and held for sale or re-lease We evaluate for impairment assets under operating lease or assets held for sale or re-lease when events or changes in circumstances indicate that the expected undiscounted cash flow from the asset may be less than the carrying value. We use various assumptions when determining the expected undiscounted cash flow, including our intentions for how long we will hold an asset subject to operating lease before it is sold, the expected future lease rates, lease terms, residual value of the asset, periods in which the asset may be held in preparation for a follow-on lease, maintenance costs, remarketing costs and the remaining economic life of the asset. We record assets held for sale at the lower of carrying value or fair value less costs to sell.

When we determine that impairment is indicated for an asset, the amount of impairment expense recorded is the excess of the carrying value over the fair value of the asset.

Allowance for losses on customer financing receivables We record the potential impairment of customer financing receivables in a valuation account, the balance of which is an accounting estimate of probable but unconfirmed losses. The allowance for losses on receivables relates to two components of receivables: (a) receivables that are evaluated individually for impairment and (b) all other receivables.

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 of the receivable agreement, without regard to any subsequent restructurings. Factors considered in assessing collectability include, but are not limited to, a customer’s extended delinquency, requests for restructuring and filings for bankruptcy. We determine a specific impairment allowance based on the difference between the carrying value of the receivable and the estimated fair value of the related collateral we would expect to realize.

We review the adequacy of the allowance attributable to the remaining receivables (after excluding receivables subject to a specific impairment allowance) by assessing both the collateral exposure and the applicable cumulative default rate. Collateral exposure for a particular receivable is the excess of the carrying value of the receivable over the fair value of the related collateral. A receivable with an estimated fair value in excess of the carrying value is considered to have no collateral exposure. The applicable cumulative default rate is determined using two components: customer credit ratings and weighted average remaining contract term. Internally assigned credit ratings, our credit quality indicator, are determined for each customer in the portfolio. Those ratings are updated based upon public information and information obtained directly from our customers.

We have entered into agreements with certain customers that would entitle us to look beyond the specific collateral underlying the receivable for purposes of determining the collateral exposure as described above. Should the proceeds from the sale of the underlying collateral asset resulting from a default condition be insufficient to cover the carrying value of our receivable (creating a shortfall condition), these agreements would, for example, permit us to take the actions necessary to sell or retain certain other assets in which the customer has an equity interest and use the proceeds to cover the shortfall.

Each quarter we review customer credit ratings, published historical credit default rates for different rating categories, and multiple third-party aircraft value publications as a basis to validate the reasonableness of the allowance for losses on receivables. There can be no assurance that actual results will not differ from estimates or that the consideration of these factors in the future will not result in an increase or decrease to the allowance for losses on receivables.

Warranties

Warranties

In conjunction with certain product sales, we provide warranties that cover factors such as non-conformance to specifications and defects in material and design. The majority of our warranties are issued by our Commercial Airplanes segment. Generally, aircraft sales are accompanied by a three to four-year standard warranty for systems, accessories, equipment, parts, and software manufactured by us or manufactured to certain standards under our authorization. These warranties are included in the programs’ estimate at completion. On occasion we have made commitments beyond the standard warranty obligation to correct fleet-wide major issues of a particular model, resulting in additional accrued warranty expense. Warranties issued by our BDS segment principally relate to sales of military aircraft and weapons hardware and are included in the contract cost estimates. These sales are generally accompanied by a six month to two-year warranty period and cover systems, accessories, equipment, parts, and software manufactured by us to certain contractual specifications. Estimated costs related to standard warranties are recorded in the period in which the related product sales occur. The warranty liability recorded at each balance sheet date reflects the estimated number of months of warranty coverage outstanding for products delivered times the average of historical monthly warranty payments, as well as additional amounts for certain major warranty issues that exceed a normal claims level. Estimated costs of these additional warranty issues are considered changes to the initial liability estimate.

We provide guarantees to certain commercial airplane customers which include compensation provisions for failure to meet specified aircraft performance targets. We account for these performance guarantees as warranties. The estimated liability for these warranties is based on known and anticipated operational characteristics and forecasted customer operation of the aircraft relative to contractually specified performance targets, and anticipated settlements when contractual remedies are not specified. Estimated payments are recorded as a reduction of revenue at delivery of the related aircraft. We have agreements that require certain suppliers to compensate us for amounts paid to customers for failure of supplied equipment to meet specified performance targets. Claims against suppliers under these agreements are included in Inventories and recorded as a reduction in Cost of products at delivery of the related aircraft. These performance warranties and claims against suppliers are included in the programs’ estimate at completion.

Supplier Penalties

Supplier Penalties

We record an accrual for supplier penalties when an event occurs that makes it probable that a supplier penalty will be incurred and the amount is reasonably estimable. Until an event occurs, we fully anticipate accepting all products procured under production-related contracts.

Guarantees

Guarantees

We record a liability in Accrued liabilities for the fair value of guarantees that are issued or modified after December 31, 2002. For a residual value guarantee where we received a cash premium, the liability is equal to the cash premium received at the guarantee’s inception. For credit guarantees, the liability is equal to the present value of the expected loss. We determine the expected loss by multiplying the creditor’s default rate by the guarantee amount reduced by the expected recovery, if applicable, for each future period the credit guarantee will be outstanding. If at inception of a guarantee, we determine there is a probable related contingent loss, we will recognize a liability for the greater of (a) the fair value of the guarantee as described above or (b) the probable contingent loss amount.

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Earnings Per Share (Policy)

12 Months Ended

Dec. 31, 2017

Earnings Per Share [Abstract]

Earnings Per Share, Policy

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.

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Liabilities, Commitments And Contingencies Environmental Remediation (Policies)

12 Months Ended

Dec. 31, 2017

Commitments and Contingencies Disclosure [Abstract]

Environmental Remediation

Environmental Remediation

We are subject to federal and state requirements for protection of the environment, including those for discharge of hazardous materials and remediation of contaminated sites. We routinely assess, based on in-depth studies, expert analyses and legal reviews, our contingencies, obligations, and commitments for remediation of contaminated sites, including assessments of ranges and probabilities of recoveries from other responsible parties and/or insurance carriers. Our policy is to accrue and charge to current expense identified exposures related to environmental remediation sites when it is probable that a liability has been incurred and the amount can be reasonably estimated. The amount of the liability is based on our best estimate or the low end of a range of reasonably possible exposure for investigation, cleanup, and monitoring costs to be incurred. Estimated remediation costs are not discounted to present value as the timing of payments cannot be reasonably estimated. We may be able to recover a portion of the remediation costs from insurers or other third parties. Such recoveries are recorded when realization of the claim for recovery is deemed probable.

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 December 31, 2017 and 2016, the high end of the estimated range of reasonably possible remediation costs exceeded our recorded liabilities by $868 and $857.

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Summary of Business Segment Data (Tables)

12 Months Ended

Dec. 31, 2017

Segment Reporting, Disclosure of Entity's Reportable Segments [Abstract]

Schedule Of Segment Reporting Information, By Segment

(Dollars in millions)
Years ended December 31,	2017			2016			2015
Revenues:
Commercial Airplanes		$56,729			$58,012			$59,399
Defense, Space & Security	21,057			22,563			23,708
Global Services	14,639			13,925			13,293
Boeing Capital	307			298			413
Unallocated items, eliminations and other	660			(227		)	(699		)
Total revenues		$93,392			$94,571			$96,114
Earnings from operations:
Commercial Airplanes		$5,432			$1,995			$4,284
Defense, Space & Security	2,223			1,966			2,312
Global Services	2,256			2,177			1,835
Boeing Capital	114			59			50
Segment operating profit	10,025			6,197			8,481
Unallocated items, eliminations and other	253			(363		)	(1,038		)
Earnings from operations	10,278			5,834			7,443
Other income/(loss), net	129			40			(13		)
Interest and debt expense	(360		)	(306		)	(275		)
Earnings before income taxes	10,047			5,568			7,155
Income tax expense	(1,850		)	(673		)	(1,979		)
Net earnings		$8,197			$4,895			$5,176

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Summary Of Significant Accounting Policies Summary Of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2017

Standards Issued, Not Yet Implemented Disclosure [Abstract]

Schedule of Prospective Adoption of New Accounting Pronouncements

The impact to our 2017 and 2016 operating results as a result of adopting ASC Topic 606 and ASU No. 2017-07 is presented in the tables below:

	Reported			Restated			Reported			Restated
Years ended December 31,	2017			2017			2016			2016
Revenues:
Commercial Airplanes		$56,729			$58,014			$58,012			$59,378
Defense, Space & Security	21,057			20,561			22,563			20,180
Global Services	14,639			14,581			13,925			13,819
Boeing Capital	307			307			298			298
Unallocated items, eliminations and other	660			542			(227		)	(179		)
Total revenues		$93,392			$94,005			$94,571			$93,496
Earnings from operations:
Commercial Airplanes		$5,432			$5,452			$1,995			$1,981
Defense, Space & Security	2,223			2,193			1,966			1,678
Global Services	2,256			2,246			2,177			2,159
Boeing Capital	114			114			59			59
Segment operating profit	10,025			10,005			6,197			5,877
Unallocated items, eliminations and other	253			(1,099		)	(363		)	(707		)
FAS/CAS service cost adjustment (1)				1,438						1,357
Earnings from operations	10,278			10,344			5,834			6,527
Other income/(loss), net (1)	129			123			40			(438		)
Interest and debt expense	(360		)	(360		)	(306		)	(306		)
Earnings before income taxes	10,047			10,107			5,568			5,783
Income tax expense	(1,850		)	(1,649		)	(673		)	(749		)
Net earnings		$8,197			$8,458			$4,895			$5,034
Diluted earnings per share		$13.43			$13.85			$7.61			$7.83

⁽¹⁾  The FAS/CAS service cost adjustment represents the difference between the pension and postretirement service costs calculated under Generally Accepted Accounting Principles (GAAP) and costs allocated to the business segments which are based on U.S. Government Cost Accounting Standards for our defense businesses. Restated Other income/(loss), net includes the non-service cost components of net periodic benefit cost.

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Goodwill And Acquired Intangibles (Tables)

12 Months Ended

Dec. 31, 2017

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule Of Goodwill By Reportable Segment

Changes in the carrying amount of goodwill by reportable segment for the years ended December 31, 2017 and 2016 were as follows:

	Commercial Airplanes		Defense, Space & Security		Global Services			Total
Balance at January 1, 2016		$992		$2,648		$1,486			$5,126
Acquisitions(1)			206					206
Goodwill adjustments					(8		)	(8		)
Balance at December 31, 2016		$992		$2,854		$1,478			$5,324
Acquisitions(1)			220					220
Goodwill adjustments					15			15
Balance at December 31, 2017(1)		$992		$3,074		$1,493			$5,559

⁽¹⁾ The increase in goodwill is primarily the result of acquisitions in the fourth quarter of 2016 and 2017.

Schedule Of Finite-Lived Intangible Assets

The gross carrying amounts and accumulated amortization of our acquired finite-lived intangible assets were as follows at December 31:

	2017				2016
	Gross Carrying Amount		Accumulated Amortization		Gross Carrying Amount		Accumulated Amortization
Distribution rights		$2,445		$943		$2,281		$797
Product know-how	522		298		503		271
Customer base	650		479		595		436
Developed technology	556		406		523		376
Other	213		177		194		166
Total		$4,386		$2,303		$4,096		$2,046

Schedule of Finite-Lived Intangible Assets, Future Amortization Expense

Estimated amortization expense for the five succeeding years is as follows:

	2018		2019		2020		2021		2022
Estimated amortization expense		$236		$213		$183		$174		$165

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Earnings Per Share (Tables)

12 Months Ended

Dec. 31, 2017

Earnings Per Share [Abstract]

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)
Years ended December 31,	2017		2016		2015
Net earnings		$8,197		$4,895		$5,176
Less: earnings available to participating securities	6		3		4
Net earnings available to common shareholders		$8,191		$4,892		$5,172
Basic
Basic weighted average shares outstanding	603.2		636.5		688.0
Less: participating securities	0.7		1		1.1
Basic weighted average common shares outstanding	602.5		635.5		686.9
Diluted
Basic weighted average shares outstanding	603.2		636.5		688.0
Dilutive potential common shares(1)	7.5		7.3		8.1
Diluted weighted average shares outstanding	610.7		643.8		696.1
Less: participating securities	0.7		1.0		1.1
Diluted weighted average common shares outstanding	610.0		642.8		695.0
Net earnings per share:
Basic		$13.60		$7.70		$7.52
Diluted	13.43		7.61		7.44

⁽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

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 per share because the effect was either antidilutive or the performance condition was not met.

(Shares in millions)
Years ended December 31,	2017	2016	2015
Performance awards	4.1	6.5	5.6
Performance-based restricted stock units	0.5	2.5	2.3

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Income Taxes (Tables)

12 Months Ended

Dec. 31, 2017

Income Tax Disclosure [Abstract]

Components Of Earnings Before Income Taxes Between Domestic and Foreign Jurisdictions

The components of earnings before income taxes were:

Years ended December 31,	2017		2016		2015
U.S.		$9,615		$5,175		$6,828
Non-U.S.	432		393		327
Total		$10,047		$5,568		$7,155

Schedule Of Income Tax Expense/(Benefit)

Income tax expense/(benefit) consisted of the following:

Years ended December 31,	2017			2016			2015
Current tax expense
U.S. federal		$1,276			$1,193			$2,102
Non-U.S.	149			133			122
U.S. state	23			15			21
Total current	1,448			1,341			2,245
Deferred tax expense
U.S. federal	405			(618		)	(297		)
Non-U.S.	(1		)	(4		)	4
U.S. state	(2		)	(46		)	27
Total deferred	402			(668		)	(266		)
Total income tax expense		$1,850			$673			$1,979

Reconciliation Of U.S. Federal Statutory Tax Rate To Our Effective Income Tax Rate schedule

The following is a reconciliation of the U.S. federal statutory tax rate of 35% to our effective income tax rates:

Years ended December 31,	2017		2016		2015
U.S. federal statutory tax	35.0	%	35.0	%	35.0	%
Impact of Tax Cuts and Jobs Act(1)	(10.5	)
Tax basis adjustment(2)			(7.9	)
Federal audit settlements(3)			(3.2	)
Excess tax benefits(4)	(2.1	)	(1.9	)
Research and development credits	(1.6	)	(5.2	)	(3.4	)
U.S. manufacturing activity tax benefit	(1.3	)	(3.8	)	(2.9	)
Tax on non-US activities	(0.9	)	(0.5	)	(0.6	)
Other provision adjustments	(0.2	)	(0.4	)	(0.4	)
Effective income tax rate	18.4	%	12.1	%	27.7	%

⁽¹⁾  On December 22, 2017, the Tax Cuts and Jobs Act (TCJA) was enacted. The TCJA revises the U.S. corporate income tax by, among other things, lowering the rate from 35% to 21% effective January 1, 2018, implementing a territorial tax system and imposing a one-time tax on deemed repatriated earnings of non-U.S. subsidiaries. In the fourth quarter of 2017, we recorded provisional tax benefits of $1,210 related to the remeasurement of our net U.S. deferred tax liabilities to reflect the reduction in the corporate tax rate. We also recorded a provisional tax expense of $159 related to tax on non-U.S. activities resulting from the TCJA.

⁽²⁾  In the third quarter of 2016, we recorded incremental tax benefits of $440 related to the application of a 2012 Federal Court of Claims decision which held that the tax basis in certain assets could be increased (tax basis adjustment).

⁽³⁾  In the third quarter of 2016, a tax benefit of $177 was recorded as a result of the settlement of the 2011-2012 federal tax audit.

⁽⁴⁾  In 2017 and 2016, we recorded excess tax benefits related to employee share-based payments of $207 and $105.

Significant Components Of Deferred Tax Assets Net Of Deferred Tax Liabilities

Significant components of our deferred tax (liabilities)/assets at December 31 were as follows:

	2017			2016
Inventory and long-term contract methods of income recognition	(6,290		)	(9,954		)
Pension benefits	3,690			7,385
Retiree health care benefits	1,319			2,268
Fixed assets, intangibles and goodwill (net of valuation allowance of $16 and $16)	(1,259		)	(2,007		)
Other employee benefits	847			1,225
Customer and commercial financing	(369		)	(730		)
Accrued expenses and reserves	347			587
Net operating loss, credit and capital loss carryovers (net of valuation allowance of $53 and $79)(1)	299			277
Other	(82		)	(57		)
Net deferred tax (liabilities)/assets(2)		($1,498	)		($1,006	)

⁽¹⁾   Of the deferred tax asset for net operating loss and credit carryovers, $278 expires on or before December 31, 2036 and $21 may be carried over indefinitely.

⁽²⁾   Included in the net deferred tax (liabilities)/assets as of December 31, 2017 and 2016 are deferred tax assets in the amounts of $4,636 and $7,701 related to Accumulated other comprehensive loss.

Net Deferred Tax Assets and Liabilities

Net deferred tax (liabilities)/assets at December 31 were as follows:

	2017			2016
Deferred tax assets		$8,459			$13,591
Deferred tax liabilities	(9,888		)	(14,502		)
Valuation allowance	(69		)	(95		)
Net deferred tax (liabilities)/assets		($1,498	)		($1,006	)

Schedule Of Unrecognized Tax Benefits Roll Forward

A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows:

	2017			2016			2015
Unrecognized tax benefits – January 1		$1,557			$1,617			$1,312
Gross increases – tax positions in prior periods	3			17			38
Gross decreases – tax positions in prior periods	(44		)	(348		)	(25		)
Gross increases – current-period tax positions	220			344			292
Settlements				(73		)
Unrecognized tax benefits – December 31		$1,736			$1,557			$1,617

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Accounts Receivable (Tables)

12 Months Ended

Dec. 31, 2017

Accounts Receivable, Net [Abstract]

Schedule Of Accounts Receivable

Accounts receivable at December 31 consisted of the following:

	2017			2016
U.S. government contracts		$5,989			$4,639
Commercial Airplanes	1,542			1,375
Global Services(1)	1,472			1,257
Defense, Space & Security(1)	760			533
Reinsurance receivables	467			526
Other	348			567
Less valuation allowance	(62		)	(65		)
Total		$10,516			$8,832

⁽¹⁾  Excludes U.S. government contracts

Schedule Of Accounts Receivable Under Long-Term Contracts

The following table summarizes our accounts receivable under long-term contracts that were unbillable or related to outstanding claims as of December 31:

	Unbillable				Claims
	2017		2016		2017		2016
Current		$2,876		$1,919		$4		$38
Expected to be collected after one year	1,564		2,011			$55	91
Total		$4,440		$3,930		$59		$129

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Inventories (Tables)

12 Months Ended

Dec. 31, 2017

Inventory Disclosure [Abstract]

Schedule of Inventory, Current

Inventories at December 31 consisted of the following:

	2017			2016
Long-term contracts in progress		$13,889			$12,801
Commercial aircraft programs	52,861			52,048
Commercial spare parts, used aircraft, general stock materials and other	5,688			5,446
Inventory before advances and progress billings	72,438			70,295
Less advances and progress billings	(28,094		)	(27,096		)
Total		$44,344			$43,199

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Customer Financing (Tables)

12 Months Ended

Dec. 31, 2017

Customer Financing [Abstract]

Schedule Of Customer Financing

Customer financing primarily relates to the BCC segment and consisted of the following at December 31:

	2017			2016
Financing receivables:
Investment in sales-type/finance leases		$1,364			$1,482
Notes	677			807
Total financing receivables	2,041			2,289
Operating lease equipment, at cost, less accumulated depreciation of $320 and $359	1,020			1,922
Gross customer financing	3,061			4,211
Less allowance for losses on receivables	(12		)	(10		)
Total		$3,049			$4,201

Components Of Investment In Sales Type Or Finance Leases

The components of investment in sales-type/finance leases at December 31 were as follows:

	2017			2016
Minimum lease payments receivable		$1,159			$1,321
Estimated residual value of leased assets	495			505
Unearned income	(290		)	(344		)
Total		$1,364			$1,482

Financing Receivable Balances Evaluated For Impairment

Financing receivable balances evaluated for impairment at December 31 were as follows:

	2017		2016
Individually evaluated for impairment		$77		$55
Collectively evaluated for impairment	1,964		2,234
Total financing receivables		$2,041		$2,289

Allowance for Losses on Financing Receivables

The change in the allowance for losses on financing receivables for the years ended December 31, 2017, 2016 and 2015, consisted of the following:

	2017			2016			2015
Beginning balance - January 1		($10	)		($16	)		($21	)
Customer financing valuation (cost)/benefit	(2		)	6			5
Ending balance - December 31		($12	)		($10	)		($16	)
Collectively evaluated for impairment		($12	)		($10	)		($16	)

Financing Receivable Credit Quality Indicators

Our financing receivable balances at December 31 by internal credit rating category are shown below:

Rating categories	2017		2016
BBB		$1,170		$1,324
BB	627		538
B	177		383
CCC	67		44
Total carrying value of financing receivables		$2,041		$2,289

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 at December 31:

	2017		2016
717 Aircraft ($269 and $301 accounted for as operating leases)		$1,081		$1,282
747-8 Aircraft ($467 and $1,086 accounted for as operating leases)	467		1,111
MD-80 Aircraft (Accounted for as sales-type finance leases)	231		259
757 Aircraft ($27 and $43 accounted for as operating leases)	217		246
747-400 Aircraft ($88 and $149 Accounted for as operating leases)	170		149
737 Aircraft ($127 and $103 Accounted for as operating leases)	161		103
767 Aircraft ($25 and $85 accounted for as operating leases)	98		170
777 Aircraft (Accounted for as notes)	14		165

Customer Financing Asset Impairment Charges

Charges related to customer financing asset impairment for the years ended December 31 were as follows:

	2017		2016		2015
Boeing Capital		$13		$45		$162
Other Boeing	30		21
Total		$43		$66		$162

Scheduled Receipts On Customer Financing

Scheduled receipts on customer financing are as follows:

Year	2018		2019		2020		2021		2022		Beyond 2022
Principal payments on notes receivable		$149		$167		$132		$175		$37		$17
Sales-type/finance lease payments receivable	236		223		185		120		107		288
Operating lease equipment payments receivable	417		86		69		53		40		62

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Property, Plant And Equipment (Tables)

12 Months Ended

Dec. 31, 2017

Property, Plant and Equipment [Abstract]

Schedule Of Property, Plant And Equipment

Property, plant and equipment at December 31 consisted of the following:

	2017			2016
Land		$530			$535
Buildings and land improvements	14,125			13,796
Machinery and equipment	14,577			13,569
Construction in progress	1,081			1,790
Gross property, plant and equipment	30,313			29,690
Less accumulated depreciation	(17,641		)	(16,883		)
Total		$12,672			$12,807

Payments Due Under Operating And Capital Leases Net Of Sublease Amounts And Non-Cancellable Future Rentals

Payments due under operating and capital leases net of sublease amounts and non-cancellable future rentals during the next five years are as follows:

	2018		2019		2020		2021		2022
Minimum operating lease payments, net of sublease amounts		$216		$201		$157		$115		$96
Minimum capital lease payments	55		37		24		12		4

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Investments (Tables)

12 Months Ended

Dec. 31, 2017

Investments [Abstract]

Schedule Of Investments

Our investments, which are recorded in Short-term and other investments or Investments, consisted of the following at December 31:

	2017		2016
Equity method investments (1)		$1,214		$1,242
Time deposits	613		665
Available-for-sale investments	508		537
Other investments	30		33
Restricted cash & cash equivalents (2)	74		68
Total		$2,439		$2,545

⁽¹⁾  Dividends received were $247 and $314 during 2017 and 2016. Retained earnings at December 31, 2017 include undistributed earnings from our equity method investments of $307.

⁽²⁾  Reflects amounts restricted in support of our workers’ compensation programs, employee benefit programs, and insurance premiums.

Schedule of Equity Method Investments

Our equity method investments consisted of the following as of December 31:

	Segment	Ownership Percentages	Investment Balance
			2017		2016
United Launch Alliance	BDS	50%		$889		$914
Other	BCA, BDS, and BGS		325		328
Total equity method investments				$1,214		$1,242

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Liabilities, Commitments And Contingencies (Tables)

12 Months Ended

Dec. 31, 2017

Commitments and Contingencies Disclosure [Abstract]

Schedule of Accrued Liabilities

Accrued liabilities at December 31 consisted of the following:

	2017		2016
Accrued compensation and employee benefit costs		$6,659		$5,720
Environmental	524		562
Product warranties	1,211		1,414
Forward loss recognition	1,683		1,385
Dividends payable	1,005		866
Income Taxes Payable	380		89
Other	3,830		4,655
Total		$15,292		$14,691

Schedule Of Environmental Remediation Activity

The following table summarizes environmental remediation activity during the years ended December 31, 2017 and 2016.

	2017			2016
Beginning balance – January 1		$562			$566
Reductions for payments made	(45		)	(47		)
Changes in estimates	7			43
Ending balance – December 31		$524			$562

Schedule Of Product Warranty Activity

The following table summarizes product warranty activity recorded during the years ended December 31, 2017 and 2016.

	2017			2016
Beginning balance – January 1		$1,414			$1,485
Additions for current year deliveries	274			356
Reductions for payments made	(241		)	(309		)
Changes in estimates	(236		)	(118		)
Ending balance – December 31		$1,211			$1,414

Contractual Obligation, Fiscal Year Maturity Schedule

The estimated earliest potential funding dates for these commitments as of December 31, 2017 are as follows:

	Total
2018		$2,047
2019	2,975
2020	1,396
2021	1,322
2022	935
Thereafter	1,546
		$10,221

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Arrangements With Off-Balance Sheet Risk (Tables)

12 Months Ended

Dec. 31, 2017

Guarantees [Abstract]

Schedule Of Guarantor Obligations

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
December 31,	2017		2016		2017		2016		2017		2016
Contingent repurchase commitments		$1,605		$1,306		$1,605		$1,306		$9		$9
Indemnifications to ULA:
Contributed Delta program launch inventory	72		77
Contract pricing	261		261						7		7
Other Delta contracts	191		216								5
Credit guarantees	109		29		55		27		16		2

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Debt (Tables)

12 Months Ended

Dec. 31, 2017

Debt Disclosure [Abstract]

Schedule Of Short-Term Debt And Current Portion Of Long-Term Debt

Short-term debt and current portion of long-term debt at December 31 consisted of the following:

	2017		2016
Unsecured debt securities		$599		$255
Non-recourse debt and notes	33		33
Capital lease obligations	52		57
Commercial Paper	600
Other notes	51		39
Total		$1,335		$384

Schedule Of Debt

Debt at December 31 consisted of the following:

	2017		2016
Unsecured debt securities
0.95% - 4.88% due through 2047		$6,127	5,250
5.80% - 6.88% due through 2043	2,386		2,383
7.25% - 8.75% due through 2043	1,637		1,641
Commercial paper	600
Variable rate: 3-month USD LIBOR plus 12.5 basis points due 2017				$250
Non-recourse debt and notes
6.98% - 7.38% notes due through 2021	94		127
Capital lease obligations due through 2034	138		138
Other notes	135		163
Total debt		$11,117		$9,952

Schedule of Debt Instruments

Total debt is attributable to:

	2017		2016
BCC		$2,523		$2,864
Other Boeing	8,594		7,088
Total debt		$11,117		$9,952

Scheduled Principal Payments For Debt And Capital Lease Obligations

Scheduled principal payments for debt and minimum capital lease obligations for the next five years are as follows:

	2018		2019		2020		2021		2022
Scheduled principal payments		$1,340		$1,275		$1,148		$728		$554

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Postretirement Plans (Tables)

12 Months Ended

Dec. 31, 2017

Retirement Benefits, Description [Abstract]

Components Of Net Periodic Benefit Cost

The components of net periodic benefit cost were as follows:

	Pension									Other Postretirement Benefits
Years ended December 31,	2017			2016			2015			2017			2016			2015
Service cost		$402			$604			$1,764			$106			$128			$140
Interest cost	2,991			3,050			2,990			229			262			248
Expected return on plan assets	(3,847		)	(3,999		)	(4,031		)	(7		)	(8		)	(8		)
Amortization of prior service (credits)/costs	(39		)	38			196			(137		)	(126		)	(136		)
Recognized net actuarial loss	804			790			1,577			10			22			31
Settlement/curtailment/other losses	1			40			290									10
Net periodic benefit cost		$312			$523			$2,786			$201			$278			$285
Net periodic benefit cost included in Earnings from operations		$639			$1,979			$2,366			$262			$274			$288

Schedule Of Changes In The Benefit Obligation, Plan Assets And Funded Status Of Pensions And OPB

The following tables show changes in the benefit obligation, plan assets and funded status of both pensions and OPB for the years ended December 31, 2017 and 2016. Benefit obligation balances presented below reflect the PBO for our pension plans, and accumulated postretirement benefit obligations (APBO) for our OPB plans.

	Pension						Other Postretirement Benefits
	2017			2016			2017			2016
Change in benefit obligation
Beginning balance		$76,745			$74,388			$6,431			$7,138
Service cost	402			604			106			128
Interest cost	2,991			3,050			229			262
Plan participants’ contributions				1
Amendments	(7		)	6			(35		)	(57		)
Actuarial loss/(gain)	5,653			2,669			(204		)	(612		)
Settlement/curtailment/other	(751		)	(63		)
Gross benefits paid	(4,658		)	(3,903		)	(481		)	(469		)
Subsidies							33			37
Exchange rate adjustment	18			(7		)	6			4
Ending balance		$80,393			$76,745			$6,085			$6,431
Change in plan assets
Beginning balance at fair value		$56,692			$56,514		134				$132
Actual return on plan assets	8,552			3,885			15			7
Company contribution	4,025			113			6			6
Plan participants’ contributions				1			4			7
Settlement payments	(744		)	(24		)
Benefits paid	(4,530		)	(3,791		)	(16		)	(18		)
Exchange rate adjustment	16			(6		)
Ending balance at fair value		$64,011			$56,692			$143			$134
Amounts recognized in statement of financial position at December 31 consist of:
Other assets		$218			$3
Other accrued liabilities	(129		)	(113		)	(397		)	(381		)
Accrued retiree health care							(5,545		)	(5,916		)
Accrued pension plan liability, net	(16,471		)	(19,943		)
Net amount recognized		($16,382	)		($20,053	)		($5,942	)		($6,297	)

Schedule Of Amounts Recognized In Accumulated Other Comprehensive Loss

Amounts recognized in Accumulated other comprehensive loss at December 31 were as follows:

	Pension						Other Postretirement Benefits
	2017			2016			2017			2016
Net actuarial loss/(gain)		$22,942			$22,802			($59	)		$152
Prior service (credits)	(1,211		)	(1,243		)	(226		)	(328		)
Total recognized in Accumulated other comprehensive loss		$21,731			$21,559			($285	)		($176	)

Schedule Of Estimated Amount That Will Be Amortized From Accumulated Other Comprehensive Loss Into Net Periodic Benefit Cost

The estimated amount that will be amortized from Accumulated other comprehensive loss into net periodic benefit cost during the year ending December 31, 2018 is as follows:

	Pension			Other Postretirement Benefits
Recognized net actuarial loss/(gain)		$1,128			($10	)
Amortization of prior service (credits)	(56		)	(126		)
Total		$1,072			($136	)

Schedule Of Key Information For All Plans With ABO In Excess Of Plan Assets

Key information for our plans with ABO in excess of plan assets as of December 31 was as follows:

	2017		2016
Projected benefit obligation		$74,953		$76,586
Accumulated benefit obligation	71,975		74,081
Fair value of plan assets		$58,353		$56,530

Schedule Of Assumptions Used To Calculate The Benefit Obligation and Net Periodic Benefit Costs

The following assumptions, which are the weighted average for all plans, are used to calculate the benefit obligation at December 31 of each year and the net periodic benefit cost for the subsequent year.

December 31,	2017		2016		2015
Discount rate:
Pension	3.60	%	4.00	%	4.20	%
Other postretirement benefits	3.30	%	3.70	%	3.80	%
Expected return on plan assets	6.80	%	6.80	%	7.00	%
Rate of compensation increase	5.30	%	4.40	%	4.00	%

Schedule Of Assumed Health Care Cost Trend Rates

Assumed health care cost trend rates were as follows:

December 31,	2017		2016		2015
Health care cost trend rate assumed next year	6.00	%	6.50	%	6.50	%
Ultimate trend rate	4.50	%	5.00	%	5.00	%
Year that trend reached ultimate rate	2021		2021		2021

Schedule Of One-Percentage-Point Change In Assumed Health Care Cost Trend Rates

A one-percentage-point change in assumed health care cost trend rates would have the following effect:

	Increase		Decrease
Effect on total of service and interest cost		$45		($37	)
Effect on postretirement benefit obligation	529		(448		)

Schedule of actual allocations for pension assets and target allocations by asset class [Table Text Block]

The actual and target allocations by asset class for the pension assets at December 31 were as follows:

	Actual Allocations				Target Allocations
Asset Class	2017		2016		2017		2016
Fixed income	46	%	48	%	47	%	47	%
Global equity	31		28		29		29
Private equity	5		5		5		5
Real estate and real assets	8		9		9		9
Hedge funds	10		10		10		10
Total	100	%	100	%	100	%	100	%

Schedule of Allocation of Plan Assets

The following table presents our plan assets using the fair value hierarchy as of December 31, 2017 and 2016. 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.

	December 31, 2017										December 31, 2016
	Total			Level 1		Level 2			Level 3		Total			Level 1		Level 2			Level 3
Fixed income securities:
Corporate		$19,603					$19,591			$12		$16,730					$16,723			$7
U.S. government and agencies	5,430					5,430					4,876					4,875			1
Mortgage backed and asset backed	760					460			300		706					370			336
Municipal	1,355					1,355					1,398					1,398
Sovereign	1,237					1,237					782					782
Other	118				$59	59					74				$9	65
Derivatives:
Assets	49					49					40					40
Liabilities	(25		)			(25		)			(38		)			(38		)
Cash equivalents and other short-term investments	1,778					1,778					1,037					1,037
Equity securities:
U.S. common and preferred stock	4,615			4,615							5,374			5,373					1
Non-U.S. common and preferred stock	6,204			6,204							5,746			5,746
Derivatives:
Assets	4			1		3					6					6
Liabilities	(4		)			(4		)			(8		)			(8		)
Private equity
Real estate and real assets:
Real estate	462			462							468			468
Real assets	705			449		253			3		672			372		295			5
Derivatives:
Assets	17					17					4					4
Liabilities	(3		)			(3		)			(1		)			(1		)
Total		$42,305			$11,790		$30,200			$315		$37,866			$11,968		$25,548			$350
Fixed income common/collective/pooled funds		$1,257										$1,625
Fixed income other	303										227
Equity common/collective pooled funds	6,786										4,962
Private equity	2,767										2,639
Real estate and real assets	3,744										3,625
Hedge funds	6,440										5,441
Total investments measured at NAV as a practical expedient		$21,297										$18,519
Cash		$170										$160
Receivables	436										374
Payables	(197		)								(227		)
Total		$64,011										$56,692

Schedule of Effect of Significant Unobservable Inputs, Changes in Plan Assets [Table Text Block]

The following tables present a reconciliation of Level 3 assets (excluding investments which are valued using NAVs as a practical expedient) held during the years ended December 31, 2017 and 2016. Transfers into and out of Level 3 are reported at the beginning-of-year values.

	January 1 2017 Balance		Net Realized and Unrealized Gains/(Losses)			Net Purchases, Issuances and Settlements			Net Transfers Out of Level 3			December 31 2017 Balance
Fixed income securities:
Corporate (1)		$12					$1			($1	)		$12
U.S. government and agencies	1								(1		)
Mortgage backed and asset backed (1)	331			$10		(39		)	(2		)	300
Equity securities:
U.S. common and preferred stock	1		(1		)
Real assets	5					(2		)				3
Total		$350		$9			($40	)		($4	)		$315

	January 1 2016 Balance		Net Realized and Unrealized Gains/(Losses)			Net Purchases, Issuances and Settlements			Net Transfers Out of Level 3			December 31 2016 Balance
Fixed income securities:
Corporate (1)		$11					($1	)		($3	)		$7
U.S. government and agencies	1											1
Mortgage backed and asset backed (1)	440			$7		(93		)	(18		)	336
Equity securities:
U.S. common and preferred stock	1											1
Non-U.S. common and preferred stock	2					(2		)
Private equity	3		(3		)
Real assets	6					(1		)				5
Total		$464		$4			($97	)		($21	)		$350

⁽¹⁾  Certain fixed income securities were reclassified between mortgage backed and asset backed to corporate on January 1, 2017 and 2016.

Schedule Of Estimated Future Benefit Payments

The table below reflects the total pension benefits expected to be paid from the plans or from our assets, including both our share of the benefit cost and the participants’ share of the cost, which is funded by participant contributions. OPB payments reflect our portion only.

Year(s)	2018			2019			2020			2021			2022			2023-2027
Pensions		$4,758			$4,712			$4,740			$4,703			$4,631			$22,770
Other postretirement benefits:
Gross benefits paid	496			507			517			520			516			2,364
Subsidies	(16		)	(16		)	(17		)	(17		)	(17		)	(87		)
Net other postretirement benefits		$480			$491			$500			$503			$499			$2,277

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Share-Based Compensation And Other Compensation Arrangements (Tables)

12 Months Ended

Dec. 31, 2017

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Schedule of share-based plans expense and related income tax benefit

The share-based plans expense and related income tax benefit were as follows:

Years ended December 31,	2017		2016		2015
Stock options				$4		$30
Restricted stock units and other awards	212		189		160
Share-based plans expense		$212		$193		$190
Income tax benefit		$46		$69		$68

Schedule of Stock Options Activity

Stock option activity for the year ended December 31, 2017 is as follows:

	Shares	Weighted Average Exercise Price Per Share		Weighted Average Remaining Contractual Life (Years)	Aggregate Intrinsic Value
Number of shares under option:
Outstanding at beginning of year	8,646,612		$72.64
Exercised	(4,224,194)	73.61
Expired	(5,200)	89.65
Outstanding at end of year	4,417,218		$71.69	3.93		$986
Exercisable at end of year	4,417,218		$71.69	3.93		$986

Schedule of Restricted Stock Units Award Activity

RSU activity for the year ended December 31, 2017 was as follows:

	Long-Term Incentive Program			Other
Number of units:
Outstanding at beginning of year	1,814,644			1,077,920
Granted	570,538			390,152
Dividends	45,799			30,477
Forfeited	(142,907		)	(40,670		)
Distributed	(660,972		)	(301,417		)
Outstanding at end of year	1,627,102			1,156,462
Unrecognized compensation cost		$98			$82
Weighted average remaining contractual life (years)	1.8			3.4

Schedule of Performance Based Restricted Stock Units Award Grant Fair Values

The grant date fair values were estimated using a Monte-Carlo simulation model with the assumptions presented below. The model includes no expected dividend yield as the units earn dividend equivalents.

Grant Year	Grant Date	Performance Period	Expected Volatility		Risk Free Interest Rate		Grant Date Fair Value
2017	2/27/2017	3 years	21.37	%	1.46	%	190.17
2016	2/22/2016	3 years	22.44	%	0.92	%	126.74
2015	2/23/2015	3 years	20.35	%	1.03	%	164.26

Schedule of Performance Based Restricted Stock Units Award Activity

PBRSU activity for the year ended December 31, 2017 was as follows:

	Long-Term Incentive Program
Number of units:
Outstanding at beginning of year	1,746,511
Granted	492,273
Performance based adjustment (1)	137,363
Dividends	54,683
Forfeited	(130,367		)
Distributed	(748,729		)
Outstanding at end of year	1,551,734
Unrecognized compensation cost		$90
Weighted average remaining contractual life (years)	1.8

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Shareholders' Equity (Tables)

12 Months Ended

Dec. 31, 2017

Stockholders' Equity Note [Abstract]

Schedule Of Common Stock Outstanding Roll Forward

The following table shows changes in each class of shares:

	Common Stock	Treasury Stock
Balance at January 1, 2015	1,012,261,159	305,533,606
Issued		(7,288,113	)
Acquired		47,391,861
Balance at December 31, 2015	1,012,261,159	345,637,354
Issued		(6,376,868	)
Acquired		55,849,082
Balance at December 31, 2016	1,012,261,159	395,109,568
Issued		(20,746,426	)
Acquired		46,859,184
Balance at December 31, 2017	1,012,261,159	421,222,326

Schedule of Accumulated Other Comprehensive Income (Loss)

Changes in Accumulated other comprehensive loss (AOCI) by component for the years ended December 31, 2017, 2016 and 2015 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, 2015		$53			($8	)		($136	)		($13,812	)			($13,903	)
Other comprehensive (loss)/income before reclassifications	(92		)	8			(140		)	173				(51		)
Amounts reclassified from AOCI							79			1,127			(2)	1,206
Net current period Other comprehensive (loss)/income	(92		)	8			(61		)	1,300				1,155
Balance at December 31, 2015		($39	)		$—			($197	)		($12,512	)			($12,748	)
Other comprehensive loss before reclassifications	(104		)	(2		)	(8		)	(1,320		)		(1,434		)
Amounts reclassified from AOCI							78			481			(2)	559
Net current period Other comprehensive (loss)/income	(104		)	(2		)	70			(839		)		(875		)
Balance at December 31, 2016		($143	)		($2	)		($127	)		($13,351	)			($13,623	)
Other comprehensive income/(loss) before reclassifications	128			1			119			(478		)		(230		)
Amounts reclassified from AOCI							52			425			(2)	477
Net current period Other comprehensive income/(loss)	128			1			171			(53		)		247
Balance at December 31, 2017		($15	)		($1	)		$44			($13,404	)			($13,376	)

⁽¹⁾  Net of tax.

⁽²⁾  Primarily relates to amortization of actuarial losses for the years ended December 31, 2017, 2016, and 2015 totaling $542, $524, and $1,038 (net of tax of ($272), ($288), and ($570)), respectively. These are included in the net periodic pension cost of which a portion is allocated to production as inventoried costs. See Note 14.

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Derivative Financial Instruments (Tables)

12 Months Ended

Dec. 31, 2017

Summary of Derivative Instruments [Abstract]

Schedule of Derivative Instruments in Statement of Financial Position, Fair Value [Table Text Block]

The notional amounts and fair values of derivative instruments in the Consolidated Statements of Financial Position as of December 31 were as follows:

	Notional   amounts(1)				Other assets						Accrued liabilities
	2017		2016		2017			2016			2017			2016
Derivatives designated as hedging instruments:
Foreign exchange contracts		$2,930		$2,584		$131			$34			($63	)		($225	)
Interest rate contracts	125		125		3			6
Commodity contracts	56		53		4			7			(6		)	(5		)
Derivatives not receiving hedge accounting treatment:
Foreign exchange contracts	406		465		16			21			(5		)	(17		)
Commodity contracts	563		648											—
Total derivatives		$4,080		$3,875	154			68			(74		)	(247		)
Netting arrangements					(61		)	(45		)	61			45
Net recorded balance						$93			$23			($13	)		($202	)

⁽¹⁾  Notional amounts represent the gross contract/notional amount of the derivatives outstanding.

Schedule Of Derivative Instruments, Gains/(Losses) In Statement Of Financial Performance

Gains/(losses) associated with our cash flow and undesignated hedging transactions and their effect on Other comprehensive income/(loss) and Net earnings were as follows:

Years ended December 31,	2017			2016
Effective portion recognized in Other comprehensive income/(loss), net of taxes:
Foreign exchange contracts		$123			($9	)
Commodity contracts	(4		)	1
Effective portion reclassified out of Accumulated other comprehensive loss into earnings, net of taxes:
Foreign exchange contracts	(50		)	(70		)
Commodity contracts	(2		)	(8		)
Forward points recognized in Other income, net:
Foreign exchange contracts	8			13
Undesignated derivatives recognized in Other income, net:
Foreign exchange contracts	8			(2		)

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Fair Value Measurements (Tables)

12 Months Ended

Dec. 31, 2017

Fair Value Disclosures [Abstract]

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.

	December 31, 2017								December 31, 2016
	Total			Level 1		Level 2			Total			Level 1		Level 2
Assets
Money market funds		$1,582			$1,582					$2,858			$2,858
Available-for-sale investments:
Commercial paper	70					70			162					162
Corporate notes	382					382			271					271
U.S. government agencies	47					47			63					63
Other	18			18					46			46
Derivatives	93					93			23						$23
Total assets		$2,192			$1,600		$592			$3,423			$2,904		$519
Liabilities
Derivatives		($13	)				($13	)		($202	)				($202	)
Total liabilities		($13	)				($13	)		($202	)				($202	)

Fair Value, Assets Measured On Nonrecurring Basis Using Unobservable Inputs

The following table presents the nonrecurring losses recognized for the years ended December 31 due to long-lived asset impairment, and the fair value and asset classification of the related assets as of the impairment date:

	2017					2016
	Fair Value		Total Losses			Fair Value		Total Losses
Investments		$1		($44	)
Operating lease equipment	90		(32		)		$84		($52	)
Other assets and Acquired intangible assets	14		(23		)	12		(10		)
Property, plant and equipment	8		(2		)	10		(9		)
Total		$113		($101	)		$106		($71	)

Fair Value, Assets Measured On Nonrecurring Basis, Valuation Techniques

For Level 3 assets that were measured at fair value on a nonrecurring basis during the year ended December 31, 2017, 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	$90	Market approach	Aircraft value publications	$140 - $191(1) Median $167
			Aircraft condition adjustments	($77) - $0(2) Net ($77)

⁽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 Consolidated Statements of Financial Position at December 31 were as follows:

	December 31, 2017
	Carrying Amount			Total Fair Value			Level 1	Level 2			Level 3
Assets
Notes receivable, net		$677			$682				$682
Liabilities
Debt, excluding capital lease obligations and commercial paper	(10,380		)	(11,923		)		(11,823		)		($100	)

	December 31, 2016
	Carrying Amount			Total Fair Value			Level 1	Level 2			Level 3
Assets
Notes receivable, net		$807			$803				$803
Liabilities
Debt, excluding capital lease obligations	(9,815		)	(11,209		)		(11,078		)		($131	)

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Segment Information (Tables)

12 Months Ended

Dec. 31, 2017

Segment Reporting [Abstract]

Schedule of Revenue from External Customers Attributed to Foreign Countries by Geographic Area

Revenues, including foreign military sales, are reported by customer location and consist of the following:

Years ended December 31,	2017		2016		2015
Asia, other than China		$8,899		$10,553		$13,433
Europe	11,457		13,790		12,248
China	11,911		10,312		12,556
Middle East	12,287		13,297		10,846
Oceania	2,061		1,843		2,601
Canada	2,197		2,076		1,870
Africa	755		1,999		1,398
Latin America, Caribbean and other	1,494		1,936		1,875
Total non-U.S. revenues	51,061		55,806		56,827
United States	42,331		38,765		39,287
Total revenues		$93,392		$94,571		$96,114

Schedule Of Depreciation And Amortization Expense By Segment

Depreciation and Amortization

Years ended December 31,	2017		2016		2015
Commercial Airplanes		$521		$442		$388
Defense, Space, & Security	252		220		248
Global Services	322		312		317
Boeing Capital Corporation	70		83		87
Unallocated items, eliminations and other	904		853		793
Total		$2,069		$1,910		$1,833

Schedule Of Capital Expenditures By Segment

Capital Expenditures

Years ended December 31,	2017		2016		2015
Commercial Airplanes		$636		$830		$819
Defense, Space, & Security	210		290		226
Global Services	180		209		132
Unallocated items, eliminations and other	713		1,284		1,273
Total		$1,739		$2,613		$2,450

Schedule Of Intersegment Revenues, Eliminated in Unallocated Items and Eliminations

Intersegment revenues, eliminated in Unallocated items, eliminations and other, are shown in the following table.

Years ended December 31,	2017		2016		2015
Commercial Airplanes		$1,571		$2,001		$1,700
Global Services	49		75		95
Boeing Capital	28		16		15
Total		$1,648		$2,092		$1,810

Schedule Of Unallocated Items and Eliminations

Components of Unallocated items, eliminations and other are shown in the following table.

Years ended December 31,	2017			2016			2015
Share-based plans		($77	)		($66	)		($76	)
Deferred compensation	(240		)	(46		)	(63		)
Amortization of previously capitalized interest	(98		)	(94		)	(90		)
Eliminations and other unallocated items	(640		)	(527		)	(511		)
Sub-total	(1,055		)	(733		)	(740		)
Pension	1,120			217			(421		)
Postretirement	188			153			123
Pension and Postretirement	1,308			370			(298		)
Total		$253			($363	)		($1,038	)

Reconciliation of Assets from Segment to Consolidated

Segment assets are summarized in the table below.

December 31,	2017		2016
Commercial Airplanes		$47,737		$46,745
Defense, Space & Security	15,865		14,123
Global Services	12,353		11,490
Boeing Capital	3,156		4,139
Unallocated items, eliminations and other	13,222		13,500
Total		$92,333		$89,997

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Quarterly Financial Data (Tables)

12 Months Ended

Dec. 31, 2017

Quarterly Financial Information Disclosure [Abstract]

Schedule Of Quarterly Financial Data

	2017												2016
	4th			3rd			2nd			1st			4th			3rd			2nd			1st
Total revenues		$25,368			$24,309			$22,739			$20,976			$23,286			$23,898			$24,755			$22,632
Total costs and expenses	(20,427		)	(19,987		)	(18,388		)	(17,264		)	(19,464		)	(19,904		)	(22,325		)	(19,097		)
Earnings from operations	3,030			2,689			2,535			2,024			2,183			2,282			(419		)	1,788
Net earnings/(loss)	3,132			1,853			1,761			1,451			1,631			2,279			(234		)	1,219
Basic earnings/(loss) per share	5.25			3.10			2.93			2.36			2.63			3.64			(0.37		)	1.85
Diluted earnings/(loss) per share	5.18			3.06			2.89			2.34			2.59			3.60			(0.37		)	1.83
Cash dividends declared per share	3.13						2.84						2.51						2.18
Common stock sales price per share:
High	299.33			259.30			204.39			185.71			160.07			139.45			137.89			141.70
Low	253.53			197.75			175.47			155.21			130.74			123.96			122.35			102.10
Quarter end	294.91			254.21			197.75			176.86			155.68			131.74			129.87			126.94

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Summary Of Business Segment Data (Details) - USD ($) $ in Millions	3 Months Ended								12 Months Ended
	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Segment Reporting Information [Line Items]
Total revenues	$ 25,368	$ 24,309	$ 22,739	$ 20,976	$ 23,286	$ 23,898	$ 24,755	$ 22,632	$ 93,392	$ 94,571	$ 96,114
Earnings from operations	3,030	2,689	2,535	2,024	2,183	2,282	(419)	1,788	10,278	5,834	7,443
Other income/(loss), net									129	40	(13)
Interest and debt expense									(360)	(306)	(275)
Earnings before income taxes									10,047	5,568	7,155
Income tax expense									(1,850)	(673)	(1,979)
Net earnings	$ 3,132	$ 1,853	$ 1,761	$ 1,451	$ 1,631	$ 2,279	$ (234)	$ 1,219	8,197	4,895	5,176
Operating Segments [Member]
Segment Reporting Information [Line Items]
Earnings from operations									10,025	6,197	8,481
Operating Segments [Member] | Commercial Airplanes [Member]
Segment Reporting Information [Line Items]
Total revenues									56,729	58,012	59,399
Earnings from operations									5,432	1,995	4,284
Operating Segments [Member] | Defense, Space & Security [Member]
Segment Reporting Information [Line Items]
Total revenues									21,057	22,563	23,708
Earnings from operations									2,223	1,966	2,312
Operating Segments [Member] | Global Services [Member]
Segment Reporting Information [Line Items]
Total revenues									14,639	13,925	13,293
Earnings from operations									2,256	2,177	1,835
Operating Segments [Member] | Boeing Capital Corporation [Member]
Segment Reporting Information [Line Items]
Total revenues									307	298	413
Earnings from operations									114	59	50
Unallocated items, eliminations and other [Member]
Segment Reporting Information [Line Items]
Total revenues									660	(227)	(699)
Earnings from operations									$ 253	$ (363)	$ (1,038)

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Summary Of Significant Accounting Policies (Narrative) (Details) $ / shares in Units, $ in Millions	3 Months Ended								12 Months Ended
	Dec. 31, 2017 USD ($) $ / shares	Sep. 30, 2017 USD ($) $ / shares	Jun. 30, 2017 USD ($) $ / shares	Mar. 31, 2017 USD ($) $ / shares	Dec. 31, 2016 USD ($) $ / shares	Sep. 30, 2016 USD ($) $ / shares	Jun. 30, 2016 USD ($) $ / shares	Mar. 31, 2016 USD ($) $ / shares	Dec. 31, 2017 USD ($) segments $ / shares	Dec. 31, 2016 USD ($) $ / shares	Dec. 31, 2015 USD ($) $ / shares	Jan. 01, 2016 USD ($)
Summary Of Significant Accounting Policies [Line Items]
Number of Reportable Segments | segments									4
Net earnings	$ 3,132	$ 1,853	$ 1,761	$ 1,451	$ 1,631	$ 2,279	$ (234)	$ 1,219	$ 8,197	$ 4,895	$ 5,176
Duration of operating cycle									generally longer than one year
Increase/(Decrease) in Earnings from operations due to change in accounting estimate.									$ 14	$ (912)	$ (224)
Earnings Per Share impact, change in accounting estimate | $ / shares									$ 0.02	$ (1.25)	$ (0.23)
Reinsurance costs									$ 144	$ 139	$ 132
Reinsurance revenues									141	147	136
Research and development expense									3,179	4,627	$ 3,331
Accounts Payable, Current	$ 12,202				$ 11,190				$ 12,202	$ 11,190
Repurchase commitments, maturities									generally 10 to 15 years
Diluted earnings/(loss) per share | $ / shares	$ 5.18	$ 3.06	$ 2.89	$ 2.34	$ 2.59	$ 3.60	$ (0.37)	$ 1.83	$ 13.43	$ 7.61	$ 7.44
Net Cash Provided by (Used in) Operating Activities									$ 13,344	$ 10,499	$ 9,363
Net Cash Provided by (Used in) Financing Activities									(11,350)	(9,587)	(7,920)
Other income/(loss), net									129	40	(13)
Interest and Debt Expense									(360)	(306)	(275)
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest									10,047	5,568	7,155
Income Tax Expense (Benefit)									$ (1,850)	$ (673)	$ (1,979)
Income (Loss) from Continuing Operations, Per Diluted Share | $ / shares									$ 13.43	$ 7.61	$ 7.44
Minimum [Member]
Summary Of Significant Accounting Policies [Line Items]
Equity Method Investment, Ownership Percentage	20.00%								20.00%
Maximum [Member]
Summary Of Significant Accounting Policies [Line Items]
Equity Method Investment, Ownership Percentage	50.00%								50.00%
Bank Overdrafts [Member]
Summary Of Significant Accounting Policies [Line Items]
Accounts Payable, Current	$ 116				$ 77				$ 116	$ 77
Commercial Airplanes [Member] | Minimum [Member]
Summary Of Significant Accounting Policies [Line Items]
Standard warranty term									3 years
Commercial Airplanes [Member] | Maximum [Member]
Summary Of Significant Accounting Policies [Line Items]
Standard warranty term									4 years
Defense, Space & Security [Member] | Minimum [Member]
Summary Of Significant Accounting Policies [Line Items]
Standard warranty term									6 months
Defense, Space & Security [Member] | Maximum [Member]
Summary Of Significant Accounting Policies [Line Items]
Standard warranty term									2 years
Developed Technology [Member] | Minimum [Member]
Summary Of Significant Accounting Policies [Line Items]
Finite-lived acquired intangible assets, useful lives (in years)									4 years
Developed Technology [Member] | Maximum [Member]
Summary Of Significant Accounting Policies [Line Items]
Finite-lived acquired intangible assets, useful lives (in years)									14 years
Product Know-How [Member] | Minimum [Member]
Summary Of Significant Accounting Policies [Line Items]
Finite-lived acquired intangible assets, useful lives (in years)									3 years
Product Know-How [Member] | Maximum [Member]
Summary Of Significant Accounting Policies [Line Items]
Finite-lived acquired intangible assets, useful lives (in years)									30 years
Customer Base [Member] | Minimum [Member]
Summary Of Significant Accounting Policies [Line Items]
Finite-lived acquired intangible assets, useful lives (in years)									3 years
Customer Base [Member] | Maximum [Member]
Summary Of Significant Accounting Policies [Line Items]
Finite-lived acquired intangible assets, useful lives (in years)									17 years
Distribution Rights [Member] | Minimum [Member]
Summary Of Significant Accounting Policies [Line Items]
Finite-lived acquired intangible assets, useful lives (in years)									3 years
Distribution Rights [Member] | Maximum [Member]
Summary Of Significant Accounting Policies [Line Items]
Finite-lived acquired intangible assets, useful lives (in years)									27 years
Other Intangible Assets [Member] | Minimum [Member]
Summary Of Significant Accounting Policies [Line Items]
Finite-lived acquired intangible assets, useful lives (in years)									2 years
Other Intangible Assets [Member] | Maximum [Member]
Summary Of Significant Accounting Policies [Line Items]
Finite-lived acquired intangible assets, useful lives (in years)									32 years
Buildings And Land Improvements [Member] | Minimum [Member]
Summary Of Significant Accounting Policies [Line Items]
Property, plant and equipment, estimated useful lives (in years)									10 years
Buildings And Land Improvements [Member] | Maximum [Member]
Summary Of Significant Accounting Policies [Line Items]
Property, plant and equipment, estimated useful lives (in years)									40 years
Machinery And Equipment [Member] | Minimum [Member]
Summary Of Significant Accounting Policies [Line Items]
Property, plant and equipment, estimated useful lives (in years)									4 years
Machinery And Equipment [Member] | Maximum [Member]
Summary Of Significant Accounting Policies [Line Items]
Property, plant and equipment, estimated useful lives (in years)									20 years
Capitalized Internal Use Software [Member]
Summary Of Significant Accounting Policies [Line Items]
Property, plant and equipment, estimated useful lives (in years)									5 years
Bid And Proposal Costs [Member]
Summary Of Significant Accounting Policies [Line Items]
Research and development expense									$ 288	311	$ 286
KC-46A Tanker [Member]
Summary Of Significant Accounting Policies [Line Items]
Increase/(Decrease) in Earnings from operations due to change in accounting estimate.		$ (329)		$ (142)	$ (312)		$ (573)	$ (243)	(471)	(1,128)	$ (835)
Pro Forma [Member]
Summary Of Significant Accounting Policies [Line Items]
Net earnings									8,458	5,034
Other income/(loss), net									123	(438)
Interest and Debt Expense									(360)	(306)
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest									10,107	5,783
Income Tax Expense (Benefit)									$ (1,649)	$ (749)
Income (Loss) from Continuing Operations, Per Diluted Share | $ / shares									$ 13.85	$ 7.83
Sales Revenue, Net [Member] | Pro Forma [Member]
Summary Of Significant Accounting Policies [Line Items]
New Accounting Pronouncement or Change in Accounting Principle, Cumulative Effect of Change on Equity or Net Assets												$ 10,000
Operating Income (Loss) [Member] | Pro Forma [Member]
Summary Of Significant Accounting Policies [Line Items]
New Accounting Pronouncement or Change in Accounting Principle, Cumulative Effect of Change on Equity or Net Assets												1,300
Retained Earnings [Member] | Pro Forma [Member]
Summary Of Significant Accounting Policies [Line Items]
New Accounting Pronouncement or Change in Accounting Principle, Cumulative Effect of Change on Equity or Net Assets												$ 900
Other Income [Member] | Pro Forma [Member]
Summary Of Significant Accounting Policies [Line Items]
New Accounting Pronouncement or Change in Accounting Principle, Effect of Adoption, Quantification									$ (6)	$ (478)
Assets [Member] | Pro Forma [Member]
Summary Of Significant Accounting Policies [Line Items]
New Accounting Pronouncement or Change in Accounting Principle, Effect of Adoption, Quantification									$ 20,000	$ (19,000)

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Summary Of Significant Accounting Policies Summary of Significant Accounting Policies (Schedule of ASC 606 Adoption) (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended								12 Months Ended
	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015	Jan. 01, 2016
Item Effected [Line Items]
Revenues	$ 25,368	$ 24,309	$ 22,739	$ 20,976	$ 23,286	$ 23,898	$ 24,755	$ 22,632	$ 93,392	$ 94,571	$ 96,114
Earnings from operations	3,030	2,689	2,535	2,024	2,183	2,282	(419)	1,788	10,278	5,834	7,443
Other income/(loss), net									129	40	(13)
Interest and Debt Expense									(360)	(306)	(275)
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest									10,047	5,568	7,155
Income Tax Expense (Benefit)									(1,850)	(673)	(1,979)
Net earnings	$ 3,132	$ 1,853	$ 1,761	$ 1,451	$ 1,631	$ 2,279	$ (234)	$ 1,219	$ 8,197	$ 4,895	$ 5,176
Income (Loss) from Continuing Operations, Per Diluted Share									$ 13.43	$ 7.61	$ 7.44
Operating Segments [Member]
Item Effected [Line Items]
Earnings from operations									$ 10,025	$ 6,197	$ 8,481
Unallocated items, eliminations and other [Member]
Item Effected [Line Items]
Revenues									660	(227)	(699)
Earnings from operations									253	(363)	(1,038)
Commercial Airplanes [Member] | Operating Segments [Member]
Item Effected [Line Items]
Revenues									56,729	58,012	59,399
Earnings from operations									5,432	1,995	4,284
Defense, Space & Security [Member] | Operating Segments [Member]
Item Effected [Line Items]
Revenues									21,057	22,563	23,708
Earnings from operations									2,223	1,966	2,312
Global Services [Member] | Operating Segments [Member]
Item Effected [Line Items]
Revenues									14,639	13,925	13,293
Earnings from operations									2,256	2,177	1,835
Boeing Capital Corporation [Member] | Operating Segments [Member]
Item Effected [Line Items]
Revenues									307	298	413
Earnings from operations									114	59	$ 50
Pro Forma [Member]
Item Effected [Line Items]
Revenues									94,005	93,496
Earnings from operations									10,344	6,527
FAS/CAS Service Cost Adjustment									1,438	1,357
Other income/(loss), net									123	(438)
Interest and Debt Expense									(360)	(306)
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest									10,107	5,783
Income Tax Expense (Benefit)									(1,649)	(749)
Net earnings									$ 8,458	$ 5,034
Income (Loss) from Continuing Operations, Per Diluted Share									$ 13.85	$ 7.83
Pro Forma [Member] | Operating Segments [Member]
Item Effected [Line Items]
Earnings from operations									$ 10,005	$ 5,877
Pro Forma [Member] | Unallocated items, eliminations and other [Member]
Item Effected [Line Items]
Revenues									542	(179)
Earnings from operations									(1,099)	(707)
Pro Forma [Member] | Commercial Airplanes [Member] | Operating Segments [Member]
Item Effected [Line Items]
Revenues									58,014	59,378
Earnings from operations									5,452	1,981
Pro Forma [Member] | Defense, Space & Security [Member] | Operating Segments [Member]
Item Effected [Line Items]
Revenues									20,561	20,180
Earnings from operations									2,193	1,678
Pro Forma [Member] | Global Services [Member] | Operating Segments [Member]
Item Effected [Line Items]
Revenues									14,581	13,819
Earnings from operations									2,246	2,159
Pro Forma [Member] | Boeing Capital Corporation [Member] | Operating Segments [Member]
Item Effected [Line Items]
Revenues									307	298
Earnings from operations									114	59
Sales Revenue, Net [Member] | Pro Forma [Member]
Item Effected [Line Items]
New Accounting Pronouncement or Change in Accounting Principle, Cumulative Effect of Change on Equity or Net Assets												$ 10,000
Operating Income (Loss) [Member] | Pro Forma [Member]
Item Effected [Line Items]
New Accounting Pronouncement or Change in Accounting Principle, Cumulative Effect of Change on Equity or Net Assets												1,300
Retained Earnings [Member] | Pro Forma [Member]
Item Effected [Line Items]
New Accounting Pronouncement or Change in Accounting Principle, Cumulative Effect of Change on Equity or Net Assets												$ 900
Other Income [Member] | Pro Forma [Member]
Item Effected [Line Items]
New Accounting Pronouncement or Change in Accounting Principle, Effect of Adoption, Quantification									6	478
Liability [Member] | Pro Forma [Member]
Item Effected [Line Items]
New Accounting Pronouncement or Change in Accounting Principle, Effect of Adoption, Quantification									$ 20,000	$ 19,000

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Goodwill And Acquired Intangibles (Narrative) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Goodwill and Intangible Assets Disclosure [Abstract]
Carrying amount of indefinite-lived intangible assets relating to trade names	$ 490	$ 490
Amortization expense of acquired finite-lived intangible assets	240	220
Finite-lived Intangible Assets Acquired	298	113
Non-cash investing and financing transactions related to acquired finite-lived intangibles	$ 55	$ 31

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Goodwill And Acquired Intangibles (Schedule Of Goodwill By Reportable Segment) (Details) - USD ($) $ in Millions		12 Months Ended
		Dec. 31, 2017	Dec. 31, 2016
Goodwill [Roll Forward]
Goodwill, Beginning Balance		$ 5,324	$ 5,126
Acquisitions		220	206
Goodwill adjustments		15	(8)
Goodwill, Ending Balance		5,559	5,324
Operating Segments [Member] | Commercial Airplanes [Member]
Goodwill [Roll Forward]
Goodwill, Beginning Balance		992	992
Acquisitions
Goodwill adjustments
Goodwill, Ending Balance		992	992
Operating Segments [Member] | Defense, Space & Security [Member]
Goodwill [Roll Forward]
Goodwill, Beginning Balance		2,854	2,648
Acquisitions	[1]	220	206
Goodwill adjustments
Goodwill, Ending Balance		3,074	2,854
Operating Segments [Member] | Global Services [Member]
Goodwill [Roll Forward]
Goodwill, Beginning Balance		1,478	1,486
Acquisitions
Goodwill adjustments		15	(8)
Goodwill, Ending Balance		$ 1,493	$ 1,478

[1] The increase in goodwill is primarily the result of acquisitions in the fourth quarter of 2016 and 2017.

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Goodwill And Acquired Intangibles (Schedule Of Finite-Lived Intangible Assets) (Details) - USD ($) $ in Millions	Dec. 31, 2017	Dec. 31, 2016
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 4,386	$ 4,096
Accumulated Amortization	2,303	2,046
Distribution Rights [Member]
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	2,445	2,281
Accumulated Amortization	943	797
Product Know-How [Member]
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	522	503
Accumulated Amortization	298	271
Customer Base [Member]
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	650	595
Accumulated Amortization	479	436
Developed Technology [Member]
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	556	523
Accumulated Amortization	406	376
Other [Member]
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	213	194
Accumulated Amortization	$ 177	$ 166

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Goodwill And Acquired Intangibles (Schedule of Finite-Lived Intangible Assets, Future Amortization Expense) (Details) $ in Millions	Dec. 31, 2017 USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
Estimated amortization expense, next 12 months	$ 236
Estimated amortization expense, Year 2	213
Estimated amortization expense, Year 3	183
Estimated amortization expense, Year 4	174
Estimated amortization expense, Year 5	$ 165

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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								12 Months Ended
		Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Earnings Per Share [Abstract]
Net earnings		$ 3,132	$ 1,853	$ 1,761	$ 1,451	$ 1,631	$ 2,279	$ (234)	$ 1,219	$ 8,197	$ 4,895	$ 5,176
Undistributed Earnings (Loss) Allocated to Participating Securities, Basic										6	3	4
Net earnings available to common shareholders										$ 8,191	$ 4,892	$ 5,172
Basic weighted average shares outstanding										603.2	636.5	688.0
Participating securities										0.7	1.0	1.1
Basic weighted average common shares outstanding										602.5	635.5	686.9
Basic weighted average shares outstanding										603.2	636.5	688.0
Dilutive potential common shares	[1]									7.5	7.3	8.1
Dilutive weighted average shares outstanding										610.7	643.8	696.1
Participating securities										0.7	1.0	1.1
Diluted weighted average common shares outstanding										610.0	642.8	695.0
Income (Loss) from Continuing Operations, Per Basic Share										$ 13.60	$ 7.70	$ 7.52
Income (Loss) from Continuing Operations, Per Diluted Share										$ 13.43	$ 7.61	$ 7.44

[1] Diluted earnings per share includes any dilutive impact of stock options, restricted stock units, performance-based restricted stock units and performance awards.

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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	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Performance Awards [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Shares excluded from the computation of diluted earnings	4.1	6.5	5.6
Performance Shares [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Shares excluded from the computation of diluted earnings	0.5	2.5	2.3

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Income Taxes (Narrative) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Significant Change in Unrecognized Tax Benefits is Reasonably Possible [Line Items]
Net income tax payments/(refunds)	$ 896	$ 1,460	$ 1,490
Unrecognized tax benefits that would affect the effective tax rate, if recognized	1,568	1,402	1,479
Unrecognized tax benefits	1,736	$ 1,557	$ 1,617	$ 1,312
United States [member]
Significant Change in Unrecognized Tax Benefits is Reasonably Possible [Line Items]
Significant Change in Unrecognized Tax Benefits is Reasonably Possible, Amount of Unrecorded Benefit	540
State and Local Jurisdiction [Member]
Significant Change in Unrecognized Tax Benefits is Reasonably Possible [Line Items]
Significant Change in Unrecognized Tax Benefits is Reasonably Possible, Amount of Unrecorded Benefit	$ 430

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Income Taxes (Components of Earnings Before Income Taxes Between Domestic and Foreign Jurisdictions) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Income Tax Disclosure [Abstract]
U.S.	$ 9,615	$ 5,175	$ 6,828
Non-U.S.	432	393	327
Earnings before income taxes	$ 10,047	$ 5,568	$ 7,155

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Income Taxes (Schedule Of Income Tax Expense/(Benefit)) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Current Income Tax Expense (Benefit), Continuing Operations [Abstract]
U.S. federal	$ 1,276	$ 1,193	$ 2,102
Non-U.S.	149	133	122
U.S. state	23	15	21
Total Current Income Tax Expense (Benefit)	1,448	1,341	2,245
Deferred Income Tax Expense (Benefit), Continuing Operations [Abstract]
U.S. federal	405	(618)	(297)
Non-U.S.	(1)	(4)	4
U.S. state	(2)	(46)	27
Total deferred	402	(668)	(266)
Income Tax Expense (Benefit), Continuing Operations [Abstract]
Total income tax expense	$ 1,850	$ 673	$ 1,979

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Income Taxes (Schedule Of Reconciliation Of U.S. Federal Statutory Tax Rate To Our Effective Income Tax Rate) (Details) - USD ($) $ in Millions		3 Months Ended		12 Months Ended
		Dec. 31, 2017	Sep. 30, 2016	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Income Tax Examination [Line Items]
U.S. federal statutory tax				21.00%	35.00%	35.00%	35.00%
Impact of Tax Cuts and Jobs Act(1)	[1]				(10.50%)
Tax basis adjustment(2)	[2]					(7.90%)
Federal audit settlements(3)	[3]					(3.20%)
Excess tax benefits(4)	[4]				(2.10%)	(1.90%)
Research and development credits					(1.60%)	(5.20%)	(3.40%)
U.S. manufacturing activity tax benefit					(1.30%)	(3.80%)	(2.90%)
Tax on non-US activities					(0.90%)	(0.50%)	(0.60%)
Other provision adjustments					(0.20%)	(0.40%)	(0.40%)
Effective income tax rate					18.40%	12.10%	27.70%
Effective Income Tax Rate Reconciliation, Impact of tax reform legislation, Amount		$ 1,051
Incremental tax benefit related to tax basis adjustment			$ 440
Excess tax benefits related to employee share-based payments					$ 207	$ 105
Tax Year 2011-2012 [Member]
Income Tax Examination [Line Items]
Tax benefit related to settlement of federal tax audit			$ (177)
Reduction in Taxes [Member]
Income Tax Examination [Line Items]
Effective Income Tax Rate Reconciliation, Impact of tax reform legislation, Amount					1,210
Foreign Tax Authority [Member] | Reduction in Taxes [Member]
Income Tax Examination [Line Items]
Effective Income Tax Rate Reconciliation, Impact of tax reform legislation, Amount					$ (159)

[1] Of the deferred tax asset for net operating loss and credit carryovers, $278 expires on or before December 31, 2036 and $21 may be carried over indefinitely.

[2] In the third quarter of 2016, we recorded incremental tax benefits of $440 related to the application of a 2012 Federal Court of Claims decision which held that the tax basis in certain assets could be increased (tax basis adjustment).

[3] In the third quarter of 2016, a tax benefit of $177 was recorded as a result of the settlement of the 2011-2012 federal tax audit.

[4] In 2017 and 2016, we recorded excess tax benefits related to employee share-based payments of $207 and $105.

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Income Taxes (Significant Components Of Deferred Tax Assets Net Of Deferred Tax Liabilities) (Details) - USD ($) $ in Millions		Dec. 31, 2017	Dec. 31, 2016
Valuation Allowance [Line Items]
Inventory and long-term contract methods of income recognition		$ (6,290)	$ (9,954)
Pension benefits		3,690	7,385
Retiree health care benefits		1,319	2,268
Fixed assets, intangibles and goodwill (net of valuation allowance of $16 and $16)		(1,259)	(2,007)
Other employee benefits		847	1,225
Customer and commercial financing		(369)	(730)
Accrued expenses and reserves		347	587
Net operating loss, credit and capital loss carryovers (net of valuation allowance of $53 and $79)(1)	[1]	299	277
Other		(82)	(57)
Net deferred tax (liabilities)/assets(2)	[2]	1,498	1,006
Valuation Allowance - Fixed assets, intangibles, and goodwill deferred tax assets		69	95
Valuation Allowance - Net operating loss, credit and capital loss carryovers		53	79
Deferred tax asset for net operating loss and credit carryovers each year through December 31, 2035		278
Deferred tax asset for net operating loss and credit carryovers indefinitely		21
Deferred tax assets related to Accumulated other comprehensive loss		4,636	7,701
Valuation Allowance, Property Plant and Equipment, Intangibles and Goodwill [Member]
Valuation Allowance [Line Items]
Valuation Allowance - Fixed assets, intangibles, and goodwill deferred tax assets		$ 16	$ 16

[1] Of the deferred tax asset for net operating loss and credit carryovers, $278 expires on or before December 31, 2036 and $21 may be carried over indefinitely.

[2] Included in the net deferred tax (liabilities)/assets as of December 31, 2017 and 2016 are deferred tax assets in the amounts of $4,636 and $7,701 related to Accumulated other comprehensive loss.

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Income Taxes (Net Deferred Tax Assets and Liabilities) (Details) - USD ($) $ in Millions		Dec. 31, 2017	Dec. 31, 2016
Components of Deferred Tax Assets and Liabilities [Abstract]
Deferred tax assets		$ 8,459	$ 13,591
Deferred tax liabilities		(9,888)	(14,502)
Valuation allowance		(69)	(95)
Deferred Tax Liabilities, Net	[1]	$ 1,498	$ 1,006

[1] Included in the net deferred tax (liabilities)/assets as of December 31, 2017 and 2016 are deferred tax assets in the amounts of $4,636 and $7,701 related to Accumulated other comprehensive loss.

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Income Taxes (Schedule of Unrecognized Tax Benefits Roll Forward) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]
Unrecognized tax benefits – January 1	$ 1,557	$ 1,617	$ 1,312
Gross increases – tax positions in prior periods	3	17	38
Gross decreases – tax positions in prior periods	(44)	(348)	(25)
Gross increases – current-period tax positions	220	344	292
Settlements		(73)
Unrecognized tax benefits – December 31	$ 1,736	$ 1,557	$ 1,617

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Accounts Receivable (Narrative) (Details) - USD ($) $ in Millions	Dec. 31, 2017	Dec. 31, 2016
Accounts Receivable [Line Items]
Unbillable, expected to be collected after one year	$ 1,564	$ 2,011
Commercial Customers [Member]
Accounts Receivable [Line Items]
Unbillable, expected to be collected after one year	$ 172	$ 172

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Accounts Receivable (Schedule Of Accounts Receivable) (Details) - USD ($) $ in Millions		Dec. 31, 2017	Dec. 31, 2016
Accounts Receivables [Line Items]
Less valuation allowance, Current		$ (62)	$ (65)
Accounts receivable, Net, Current		10,516	8,832
U S Government Contracts [Member]
Accounts Receivables [Line Items]
Accounts Receivable, Gross, Current		5,989	4,639
Commercial Airplanes Accounts Receivable [Member]
Accounts Receivables [Line Items]
Accounts Receivable, Gross, Current		1,542	1,375
Global Services Accounts Receivable Excluding US Government Contracts [Member]
Accounts Receivables [Line Items]
Accounts Receivable, Gross, Current	[1]	1,472	1,257
Defense, Space & Security Customers Excluding US Government Contracts [Member]
Accounts Receivables [Line Items]
Accounts Receivable, Gross, Current	[1]	760	533
Reinsurance Receivables [Member]
Accounts Receivables [Line Items]
Accounts Receivable, Gross, Current		467	526
Other Account Receivable [Member]
Accounts Receivables [Line Items]
Accounts Receivable, Gross, Current		$ 348	$ 567

[1] Excludes U.S. government contracts

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Accounts Receivable (Schedule Of Accounts Receivable Under Long-Term Contracts) (Details) - USD ($) $ in Millions	Dec. 31, 2017	Dec. 31, 2016
Unbilled Receivables, Not Billable, Fiscal Year Maturity [Abstract]
Unbillable, current	$ 2,876	$ 1,919
Unbillable, expected to be collected after one year	1,564	2,011
Total Unbillable	4,440	3,930
Contracts Receivable, Claims and Uncertain Amounts, Fiscal Year Maturity [Abstract]
Claims, current	4	38
Claims, expected to be collected after one year	55	91
Total Claims	$ 59	$ 129

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Inventories (Narrative) (Details) $ in Millions	3 Months Ended
	Jun. 30, 2016 USD ($)	Dec. 31, 2017 USD ($) aircraft	Dec. 31, 2016 USD ($)
Inventories [Line Items]
Progress Payments Netted Against Inventory for Long-term Contracts or Programs		$ 28,094	$ 27,096
Inventory Write-down	$ 1,235
Commercial spare parts, used aircraft, general stock materials and other		5,688	5,446
Airplane Program 787 [Member]
Inventories [Line Items]
Inventory, work in process		30,695	32,501
Deferred production costs		25,358	27,308
Supplier advances		3,189	2,398
Unamortized tooling and other non-recurring costs		3,173	3,625
Deferred production, unamortized tooling and other nonrecurring costs to be recovered from firm orders at the balance sheet date		22,220
Deferred production, unamortized tooling and other nonrecurring costs to be recovered from future orders		6,311
Airplane Program 747 [Member]
Inventories [Line Items]
Unamortized tooling and other non-recurring costs		151	284
Deferred production, unamortized tooling and other nonrecurring costs to be recovered from firm orders at the balance sheet date		$ 146
Unsold Aircraft | aircraft		1
ULA [Member]
Inventories [Line Items]
Inventory subject to uncertainty		$ 120
Progress Payments Netted Against Inventory for Long-term Contracts or Programs		164	220
Capitalized Precontract Costs [Member]
Inventories [Line Items]
Inventory subject to uncertainty		933	729
Early Issue Sales Consideration [Member]
Inventories [Line Items]
Inventory subject to uncertainty		$ 2,976	$ 3,117

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Inventories (Inventory Disclosure Table) (Details) - USD ($) $ in Millions	Dec. 31, 2017	Dec. 31, 2016
Inventory Disclosure [Abstract]
Long-term contracts in progress	$ 13,889	$ 12,801
Commercial aircraft programs	52,861	52,048
Commercial spare parts, used aircraft, general stock materials and other	5,688	5,446
Inventory before advances and progress billings	72,438	70,295
Less advances and progress billings	(28,094)	(27,096)
Total	$ 44,344	$ 43,199

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Customer Financing (Narrative) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Customer Financing [Line Items]
Individually evaluated for impairment	$ 77	$ 55
Impaired financing receivables	66	$ 44
Average recorded investment in impaired receivables	$ 46
B Credit Rating [Member]
Customer Financing [Line Items]
Percentage Of Credit Default Rates Applied To Customers	22.60%
BB Credit Rating [Member]
Customer Financing [Line Items]
Percentage Of Credit Default Rates Applied To Customers	4.70%
BBB Credit Rating [Member]
Customer Financing [Line Items]
Percentage Of Credit Default Rates Applied To Customers	0.90%

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Customer Financing (Schedule Of Customer Financing) (Details) - USD ($) $ in Millions	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Customer Financing [Abstract]
Investment in sales-type/finance leases	$ 1,364	$ 1,482
Notes	677	807
Total financing receivables	2,041	2,289
Operating lease equipment, at cost, less accumulated depreciation of $320 and $359	1,020	1,922
Gross customer financing	3,061	4,211
Less allowance for losses on receivables	(12)	(10)	$ (16)	$ (21)
Total	3,049	4,201
Operating lease equipment, accumulated depreciation	$ 320	$ 359

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Customer Financing (Components Of Investment In Sales-Type Or Finance Leases) (Details) - USD ($) $ in Millions	Dec. 31, 2017	Dec. 31, 2016
Customer Financing [Abstract]
Minimum lease payments receivable	$ 1,159	$ 1,321
Estimated residual value of leased assets	495	505
Unearned income	(290)	(344)
Total	$ 1,364	$ 1,482

XML

Customer Financing (Financing Receivable Balances Evaluated For Impairment) (Details) - USD ($) $ in Millions	Dec. 31, 2017	Dec. 31, 2016
Customer Financing [Abstract]
Individually evaluated for impairment	$ 77	$ 55
Collectively evaluated for impairment	1,964	2,234
Total financing receivables	$ 2,041	$ 2,289

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Customer Financing (Allowance For Losses On Financing Receivables) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Financing Receivable, Allowance for Credit Losses [Roll Forward]
Beginning balance - January 1	$ (10)	$ (16)	$ (21)
Write-offs	(2)	6	5
Ending balance - December 31	(12)	(10)	(16)
Financing Receivable, Allowance for Credit Loss, Additional Information [Abstract]
Collectively evaluated for impairment	$ (12)	$ (10)	$ (16)

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Customer Financing (Financing Receivable Credit Quality Indicators) (Details) - USD ($) $ in Millions	Dec. 31, 2017	Dec. 31, 2016
Financing Receivable, Recorded Investment [Line Items]
Total financing receivables	$ 2,041	$ 2,289
BBB Credit Rating [Member]
Financing Receivable, Recorded Investment [Line Items]
Total financing receivables	1,170	1,324
BB Credit Rating [Member]
Financing Receivable, Recorded Investment [Line Items]
Total financing receivables	627	538
B Credit Rating [Member]
Financing Receivable, Recorded Investment [Line Items]
Total financing receivables	177	383
CCC Credit Rating [Member]
Financing Receivable, Recorded Investment [Line Items]
Total financing receivables	$ 67	$ 44

XML

Customer Financing (Schedule of Customer Financing Carrying Values Related to Major Aircraft Concentrations) (Details) - USD ($) $ in Millions	Dec. 31, 2017	Dec. 31, 2016
Customer Financing [Line Items]
Gross customer financing	$ 3,061	$ 4,211
Operating lease equipment	1,020	1,922
B-717 Aircraft [Member]
Customer Financing [Line Items]
Gross customer financing	1,081	1,282
Operating lease equipment	269	301
B-747-8 [Member]
Customer Financing [Line Items]
Gross customer financing	467	1,111
Operating lease equipment	467	1,086
MD-80 Aircraft [Member]
Customer Financing [Line Items]
Gross customer financing	231	259
B-757 Aircraft [Member]
Customer Financing [Line Items]
Gross customer financing	217	246
Operating lease equipment	27	43
B-747-400 aircraft [Member]
Customer Financing [Line Items]
Gross customer financing	170	149
Operating lease equipment	88	149
B-737 Aircraft [Member]
Customer Financing [Line Items]
Gross customer financing	161	103
Operating lease equipment	127	103
B-767 Aircraft [Member]
Customer Financing [Line Items]
Gross customer financing	98	170
Operating lease equipment	25	85
B-777 [Member]
Customer Financing [Line Items]
Gross customer financing	$ 14	$ 165

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Customer Financing (Customer Financing Asset Impairment Charges) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Customer Financing [Line Items]
Impairment charges	$ 113	$ 90	$ 167
Customer Financing [Member]
Customer Financing [Line Items]
Impairment charges	43	66	162
Customer Financing [Member] | Boeing Capital Corporation [Member]
Customer Financing [Line Items]
Impairment charges	13	45	162
Customer Financing [Member] | Other Boeing [Member]
Customer Financing [Line Items]
Impairment charges	$ 30	$ 21

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Customer Financing (Scheduled Receipts On Customer Financing) (Details) - Customer Financing [Member] $ in Millions	Dec. 31, 2017 USD ($)
Principal payments on notes receivable [Abstract]
2018	$ 149
2019	167
2020	132
2021	175
2022	37
Beyond 2022	17
Sales-type/finance lease payments receivable [Abstract]
2018	236
2019	223
2020	185
2021	120
2022	107
Beyond 2022	288
Operating lease equipment payments receivable [Abstract]
2018	417
2019	86
2020	69
2021	53
2022	40
Beyond 2022	$ 62

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Property, Plant And Equipment (Narrative) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Property, Plant and Equipment [Line Items]
Depreciation expense	$ 2,069	$ 1,910	$ 1,833
Interest capitalized	110	170	158
Rental expense for leased properties	283	287	267
Minimum rental payments under capital leases, total	147
Minimum rental payments under operating leases with initial or remaining terms of one year or more, total	1,355
Sublease payments under operating lease	13
Property, plant and equipment included in accounts payable	196	292
Property, Plant and Equipment [Member]
Property, Plant and Equipment [Line Items]
Depreciation expense	$ 1,548	$ 1,418	$ 1,357

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Property, Plant And Equipment (Schedule Of Property, Plant And Equipment) (Details) - USD ($) $ in Millions	Dec. 31, 2017	Dec. 31, 2016
Property, Plant and Equipment [Abstract]
Land	$ 530	$ 535
Buildings and land improvements	14,125	13,796
Machinery and equipment	14,577	13,569
Construction in progress	1,081	1,790
Gross property, plant and equipment	30,313	29,690
Less accumulated depreciation	(17,641)	(16,883)
Total	$ 12,672	$ 12,807

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Property, Plant And Equipment (Payments Due Under Operating And Capital Leases Net Of Sublease Amounts And Non-Cancellable Future Rentals) (Details) $ in Millions	Dec. 31, 2017 USD ($)
Operating Leases, Future Minimum Payments Due, Fiscal Year Maturity [Abstract]
2018	$ 216
2019	201
2020	157
2021	115
2022	96
Capital Leases, Future Minimum Payments Due, Fiscal Year Maturity [Abstract]
2018	55
2019	37
2020	24
2021	12
2022	$ 4

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Investments (Schedule Of Investments) (Details) - USD ($) $ in Millions		12 Months Ended
		Dec. 31, 2017	Dec. 31, 2016
Investments Schedule [Abstract]
Equity method investments	[1]	$ 1,214	$ 1,242
Time deposits		613	665
Available-for-sale investments		508	537
Other investments		30	33
Restricted Cash and Cash Equivalents	[2]	74	68
Total		2,439	2,545
Equity Method Investments and Joint Ventures [Abstract]
Dividends received from equity method investments		247	$ 314
Undistributed earnings from equity method investments		$ 307

[1] Dividends received were $247 and $314 during 2017 and 2016. Retained earnings at December 31, 2017 include undistributed earnings from our equity method investments of $307.

[2] Reflects amounts restricted in support of our workers’ compensation programs, employee benefit programs, and insurance premiums.

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Investments (Schedule Of Ownership Percentages And Balances Of Equity Method Investments) (Details) - USD ($) $ in Millions		Dec. 31, 2017	Dec. 31, 2016
Schedule of Equity Method Investments [Line Items]
Equity method investments	[1]	$ 1,214	$ 1,242
Defense, Space & Security [Member] | United Launch Alliance [Member]
Schedule of Equity Method Investments [Line Items]
Equity Method Investment, Ownership Percentage		50.00%	50.00%
Equity method investments		$ 889	$ 914
Commercial Airplanes, Defense, Space & Security, and Global Services [Member]
Schedule of Equity Method Investments [Line Items]
Equity method investments		$ 325	$ 328

[1] Dividends received were $247 and $314 during 2017 and 2016. Retained earnings at December 31, 2017 include undistributed earnings from our equity method investments of $307.

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Other Assets (Details) - USD ($) $ in Millions	Dec. 31, 2017	Dec. 31, 2016
Other Assets [Line Items]
Net receivable balance recorded in Other assets	$ 2,027	$ 1,416
Spirit Aerosystems [Member]
Other Assets [Line Items]
Loss Contingency, Receivable	137	143
Sea Launch Receivables [Member]
Other Assets [Line Items]
Net receivable balance recorded in Other assets	356	$ 356
Sea Launch Receivables [Member] | S.P. Koroley Rocket And Space Corporation Energia [Member]
Other Assets [Line Items]
Net receivable balance recorded in Other assets	223
Sea Launch Receivables [Member] | PO Yuzhnoye Mashinostroitelny Zavod [Member]
Other Assets [Line Items]
Net receivable balance recorded in Other assets	89
Sea Launch Receivables [Member] | KB Yuzhnoye [Member]
Other Assets [Line Items]
Net receivable balance recorded in Other assets	$ 44

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Liabilities, Commitments And Contingencies (Narrative) (Details)	3 Months Ended						12 Months Ended
	Sep. 30, 2017 USD ($)	Mar. 31, 2017 USD ($)	Dec. 31, 2016 USD ($)	Sep. 30, 2016 USD ($)	Jun. 30, 2016 USD ($)	Mar. 31, 2016 USD ($)	Dec. 31, 2017 USD ($) aircraft	Dec. 31, 2016 USD ($)	Dec. 31, 2015 USD ($)	Dec. 31, 2011 USD ($)
Liabilities Commitments And Contingencies [Line Items]
Increase/(Decrease) in Earnings from operations due to change in accounting estimate.							$ 14,000,000	$ (912,000,000)	$ (224,000,000)
Amount by which estimated range of reasonably possible remediation costs exceeded recorded liabilities			$ 857,000,000				868,000,000	857,000,000
Contingent liabilities on outstanding letters of credit agreements and surety bonds			4,701,000,000				3,708,000,000	4,701,000,000
Cash surrender value of life insurance policies			483,000,000				489,000,000	483,000,000
Total value of loans against underlying life insurance policies			456,000,000				470,000,000	456,000,000
Commercial Aircraft Commitments [Member] | Total Contractual Trade In Value Maximum [Member]
Liabilities Commitments And Contingencies [Line Items]
Other Commitment			1,485,000,000				1,462,000,000	1,485,000,000
Commercial Aircraft Commitments [Member] | Net amounts payable to customers related to probable contractual trade-in commitments [Member]
Liabilities Commitments And Contingencies [Line Items]
Other Commitment			126,000,000				155,000,000	126,000,000
Commercial Aircraft Commitments [Member] | Probable Contractual Trade In Value [Member]
Liabilities Commitments And Contingencies [Line Items]
Other Commitment			126,000,000				155,000,000	126,000,000
Financing Commitment [Member]
Liabilities Commitments And Contingencies [Line Items]
Other Commitment			14,847,000,000				10,221,000,000	14,847,000,000
Financing Commitment [Member] | External Credit Rating, Non Investment Grade [Member]
Liabilities Commitments And Contingencies [Line Items]
Other Commitment							$ 10,221,000,000
Minimum [Member]
Liabilities Commitments And Contingencies [Line Items]
Trade-In Commitment Expiration Date							2018
Maximum [Member]
Liabilities Commitments And Contingencies [Line Items]
Trade-In Commitment Expiration Date							2026
F/A-18 Program [Member] | Capitalized Precontract Costs [Member]
Liabilities Commitments And Contingencies [Line Items]
Loss Contingency, Estimate of Possible Loss							$ 155,000,000
F/A-18 Program [Member] | Potential Termination Liabilities [Member]
Liabilities Commitments And Contingencies [Line Items]
Loss Contingency, Estimate of Possible Loss							855,000,000
KC-46A Tanker [Member]
Liabilities Commitments And Contingencies [Line Items]
Increase/(Decrease) in Earnings from operations due to change in accounting estimate.	$ (329,000,000)	$ (142,000,000)	$ (312,000,000)		$ (573,000,000)	$ (243,000,000)	(471,000,000)	(1,128,000,000)	$ (835,000,000)
KC-46A Tanker [Member] | Capitalized Precontract Costs [Member]
Liabilities Commitments And Contingencies [Line Items]
Loss Contingency, Estimate of Possible Loss							347,000,000
KC-46A Tanker [Member] | Potential Termination Liabilities [Member]
Liabilities Commitments And Contingencies [Line Items]
Loss Contingency, Estimate of Possible Loss							1,024,000,000
B747 aircraft [Member]
Liabilities Commitments And Contingencies [Line Items]
Reach-forward loss on commercial aircraft					$ (1,188,000,000)	$ (70,000,000)
Commercial Crew [Member]
Liabilities Commitments And Contingencies [Line Items]
Increase/(Decrease) in Earnings from operations due to change in accounting estimate.				$ 162,000,000
EMD Contract [Member] | KC-46A Tanker [Member]
Liabilities Commitments And Contingencies [Line Items]
Contract Value										$ 4,900,000,000
Low Rate Initial Production [Member] | KC-46A Tanker [Member]
Liabilities Commitments And Contingencies [Line Items]
Contract Value2								$ 2,800,000,000
Ula [Member]
Liabilities Commitments And Contingencies [Line Items]
Inventory Amount, Unpriced Change Orders for Long-term Contracts or Programs							$ 120,000,000
U.S. Navy [Member] | F/A-18 Program [Member]
Liabilities Commitments And Contingencies [Line Items]
Number Of Aircraft Included Within Backlog | aircraft							26

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Liabilities, Commitments And Contingencies (Schedule Of Accrued Liabilities) (Details) - USD ($) $ in Millions	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Commitments and Contingencies Disclosure [Abstract]
Accrued compensation and employee benefit costs	$ 6,659	$ 5,720
Environmental	524	562	$ 566
Product warranties	1,211	1,414	$ 1,485
Forward loss recognition	1,683	1,385
Dividends payable	1,005	866
Taxes Payable	380	89
Other	3,830	4,655
Total	$ 15,292	$ 14,691

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Liabilities, Commitments And Contingencies (Schedule Of Environmental Remediation Activity) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Accrual for Environmental Loss Contingencies [Roll Forward]
Beginning balance - January 1	$ 562	$ 566
Reductions for payments made	(45)	(47)
Changes in estimates	7	43
Ending balance - December 31	$ 524	$ 562

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Liabilities, Commitments And Contingencies (Schedule Of Product Warranty Activity) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Movement in Standard Product Warranty Accrual [Roll Forward]
Beginning balance - January 1	$ 1,414	$ 1,485
Additions for current year deliveries	274	356
Reductions for payments made	(241)	(309)
Changes in estimates	(236)	(118)
Ending balance - December 31	$ 1,211	$ 1,414

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Liabilities, Commitments And Contingencies (Schedule Of Estimated Potential Funding Dates For Financing Commitments) (Details) - Financing Commitment [Member] - USD ($) $ in Millions	Dec. 31, 2017	Dec. 31, 2016
Other Commitments, Fiscal Year Maturity [Line Items]
2016	$ 2,047
2017	2,975
2018	1,396
2019	1,322
2020	935
Thereafter	1,546
Total	10,221	$ 14,847
External Credit Rating, Non Investment Grade [Member]
Other Commitments, Fiscal Year Maturity [Line Items]
Total	$ 10,221

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Arrangements With Off-Balance Sheet Risk (Narrative) (Details) $ in Millions	1 Months Ended		231 Months Ended
	Dec. 31, 2011 USD ($)	Jun. 30, 2011 USD ($)	Dec. 31, 2036	Dec. 31, 2017 USD ($) satellites	Dec. 31, 2016 USD ($)
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]
Number of satellite missions | satellites				4
Potentially Unrecoverable Costs Under Contracts	$ 114	$ 271
Offsetting capital lease obligation and IRB asset				$ 166	$ 64
ULA [Member]
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]
Delta launch program inventories included in contributed assets				1,360
Delta launch program inventories subject to an inventory supply agreement				1,860
Contributed inventories consumed by ULA				1,288
Inventory Supply Agreement Payments Received				1,740
Payments made under inventory supply agreement				48
Inventory Supply Agreement Revenue and Costs of Sales Recorded				(1,528)
Contributed Delta Program Launch Inventory [Member] | ULA [Member]
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]
Maximum Potential Payments				$ 72	77
Indemnification Agreement [Member]
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]
Number of satellite missions | satellites				3
Other Delta Contracts [Member] | Deferred support costs [Member]
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]
Maximum Potential Payments				$ 85
Other Delta Contracts [Member] | Deferred production costs [Member]
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]
Maximum Potential Payments				91
Other Delta Contracts [Member] | ULA [Member]
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]
Maximum Potential Payments				191	216
Carrying Amount of Liabilities					5
Deferred Support and Production Costs [Member]
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]
Loss Contingency, Estimate of Possible Loss				317
Credit Guarantees [Member]
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]
Maximum Potential Payments				109	29
Carrying Amount of Liabilities				16	$ 2
Guarantor Obligations, Term			2036
Maximum [Member] | Indemnification Agreement [Member]
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]
Loss Contingency, Estimate of Possible Loss				$ 277

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Arrangements With Off-Balance Sheet Risk (Schedule Of Arrangements With Off-Balance Sheet Risk) (Details) - USD ($) $ in Millions	Dec. 31, 2017	Dec. 31, 2016
Contingent Repurchase Commitment [Member]
Guarantor Obligations [Line Items]
Maximum Potential Payments	$ 1,605	$ 1,306
Estimated Proceeds from Collateral/ Recourse	1,605	1,306
Carrying Amount of Liabilities	9	9
Credit Guarantees [Member]
Guarantor Obligations [Line Items]
Maximum Potential Payments	109	29
Estimated Proceeds from Collateral/ Recourse	55	27
Carrying Amount of Liabilities	16	2
ULA [Member] | Contributed Delta Program Launch Inventory [Member]
Guarantor Obligations [Line Items]
Maximum Potential Payments	72	77
ULA [Member] | Contract Pricing [Member]
Guarantor Obligations [Line Items]
Maximum Potential Payments	261	261
Carrying Amount of Liabilities	7	7
ULA [Member] | Other Delta Contracts [Member]
Guarantor Obligations [Line Items]
Maximum Potential Payments	191	216
Carrying Amount of Liabilities		$ 5

XML

Debt (Narrative) (Details) - USD ($) $ in Millions		12 Months Ended
	Feb. 16, 2017	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Debt Instrument [Line Items]
Debt Instrument, Issuance Date	Feb. 16, 2017
Debt Instrument, Face Amount	$ 900
Proceeds from Debt, Net of Issuance Costs	871
Interest Costs Incurred		$ 541	$ 535	$ 497
Interest Paid		527	523	$ 488
Total debt		11,117	$ 9,952
Customer Financing [Member]
Debt Instrument [Line Items]
Customer Financing Asset Used For Collateralizing Debt		231
Secured Debt [Member]
Debt Instrument [Line Items]
Total debt		94
Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Available amount under credit facility		5,000
Revolving Credit Facility [Member] | 364-day Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Available amount under credit facility		$ 2,500
Maturity date of credit line agreements		Oct. 31, 2018
Revolving Credit Facility [Member] | Five Year Credit Facility [Member] | Five Year Expiration [Member]
Debt Instrument [Line Items]
Available amount under credit facility		$ 2,470
Maturity date of credit line agreements		Nov. 01, 2022
Revolving Credit Facility [Member] | Five Year Credit Facility [Member] | Next twelve months Expiration [Member]
Debt Instrument [Line Items]
Available amount under credit facility		$ 30
Maturity date of credit line agreements		Nov. 02, 2021
Two Point One Two Five Percent due on March 1, 2022 [Member]
Debt Instrument [Line Items]
Debt Instrument, Face Amount	$ 300
Debt maturity date	Mar. 01, 2022
Debt Instrument, Interest Rate, Stated Percentage	2.125%
Two Point Eight Percent due on March 1, 2027 [Member]
Debt Instrument [Line Items]
Debt Instrument, Face Amount	$ 300
Debt maturity date	Mar. 01, 2027
Debt Instrument, Interest Rate, Stated Percentage	2.80%
Three Point Six Five Percent due on March 1, 2047 [Member]
Debt Instrument [Line Items]
Debt Instrument, Face Amount	$ 300
Debt maturity date	Mar. 01, 2047
Debt Instrument, Interest Rate, Stated Percentage	3.65%

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Debt (Schedule Of Short-Term Debt And Current Portion Of Long-Term Debt) (Details) - USD ($) $ in Millions	Dec. 31, 2017	Dec. 31, 2016
Debt Disclosure [Abstract]
Unsecured debt securities	$ 599	$ 255
Non-recourse debt and notes	33	33
Capital lease obligations	52	57
Commercial Paper	600
Other notes	51	39
Short-term debt and current portion of long-term debt	$ 1,335	$ 384

XML

Debt (Schedule Of Debt) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2017	Feb. 16, 2017	Dec. 31, 2016
Debt Instrument [Line Items]
Debt Instrument, Face Amount		$ 900
Commercial Paper	$ 600
Other notes	135		163
Total debt	11,117		9,952
0.95% - 4.88% due through 2047 [Member]
Debt Instrument [Line Items]
Unsecured debt securities	$ 6,127		5,250
Debt Instrument, Maturity Date	Mar. 01, 2047
5.80% - 6.88% due through 2043 [Member]
Debt Instrument [Line Items]
Unsecured debt securities	$ 2,386		2,383
Debt Instrument, Maturity Date	Dec. 31, 2043
7.25% – 8.75% due through 2043 [Member]
Debt Instrument [Line Items]
Unsecured debt securities	$ 1,637		1,641
Debt Instrument, Maturity Date	Dec. 31, 2043
Commercial Paper [Member]
Debt Instrument [Line Items]
Short-term Debt, Weighted Average Interest Rate, at Point in Time	1.40%
3-month USD LIBOR plus 12.5 basis points due 2017 [Member]
Debt Instrument [Line Items]
Unsecured debt securities			250
6.98% - 7.38% notes due through 2021 [Member]
Debt Instrument [Line Items]
Non-recourse debt and notes	$ 94		127
Debt Instrument, Maturity Date	Dec. 31, 2021
Due Through Two Thousand Thirty-four [Member]
Debt Instrument [Line Items]
Capital lease obligations	$ 138		$ 138
Debt Instrument, Maturity Date	Dec. 31, 2034
Minimum [Member] | 0.95% - 4.88% due through 2047 [Member]
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage	0.95%
Minimum [Member] | 5.80% - 6.88% due through 2043 [Member]
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage	5.80%
Minimum [Member] | 7.25% – 8.75% due through 2043 [Member]
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage	7.25%
Minimum [Member] | 6.98% - 7.38% notes due through 2021 [Member]
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage	6.98%
Maximum [Member] | 0.95% - 4.88% due through 2047 [Member]
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage	4.88%
Maximum [Member] | 5.80% - 6.88% due through 2043 [Member]
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage	6.88%
Maximum [Member] | 7.25% – 8.75% due through 2043 [Member]
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage	8.75%
Maximum [Member] | 6.98% - 7.38% notes due through 2021 [Member]
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage	7.38%

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Debt (Scheduled Principal Payments For Debt And Capital Lease Obligations) (Details) $ in Millions	Dec. 31, 2017 USD ($)
Debt Disclosure [Abstract]
2016	$ 1,340
2017	1,275
2018	1,148
2019	728
2020	$ 554

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Debt Debt (Schedule of Long-term debt instruments) (Details) - USD ($) $ in Millions	Dec. 31, 2017	Dec. 31, 2016
Debt Instrument [Line Items]
Total debt	$ 11,117	$ 9,952
Boeing Capital Corporation [Member]
Debt Instrument [Line Items]
Total debt	2,523	2,864
Other Boeing Debt [Member]
Debt Instrument [Line Items]
Total debt	$ 8,594	$ 7,088

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Postretirement Plans (Narrative) (Details) - USD ($) $ in Millions	1 Months Ended	12 Months Ended
	Aug. 31, 2017	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Defined Benefit Plan Disclosure [Line Items]
Amount by which fair value of plan assets exceeds market-related value of plan assets (MRVA)		$ 2,260
Derivative net notional amount for fixed income as percentage of total plan assets		5.00%	6.00%
Derivative net notional amount for global equity, currency overlay and commodities as a percentage of total plan assets		6.90%	1.20%
Company contribution		$ 3,500
Expense for defined contribution plans		1,522	$ 1,413	$ 768
Pension Plans [Member]
Defined Benefit Plan Disclosure [Line Items]
Accumulated benefit obligation (ABO) for all pension plans		77,414	74,240
Company contribution		$ 4,025	$ 113
Defined benefit plan, actual plan asset allocations		100.00%	100.00%
Pension Plans [Member] | Fixed Income Securities [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, actual plan asset allocations		46.00%	48.00%
Pension Plans [Member] | Equity Securities [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, actual plan asset allocations		31.00%	28.00%
Pension Plans [Member] | Level 3 [Member] | Fixed Income Securities [Member] | Mortgage backed and asset backed
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets Level 3 Reconciliation, Increase (Decrease) for Actual Return (Loss) on Plan Assets Still Held		$ 6	$ 4
Other Postretirement Benefits Plans [Member]
Defined Benefit Plan Disclosure [Line Items]
Company contribution		$ 6	$ 6
Other Postretirement Benefits Plans [Member] | Fixed Income Securities [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, actual plan asset allocations		40.00%
Other Postretirement Benefits Plans [Member] | Equity Securities [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, actual plan asset allocations		60.00%
Cash Contribution [Member]
Defined Benefit Plan Disclosure [Line Items]
Company contribution	$ 500
Non-Cash Contribution [Member]
Defined Benefit Plan Disclosure [Line Items]
Company contribution	$ 3,500

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Postretirement Plans (Components Of Net Periodic Benefit Cost) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Pension Plans [Member]
Defined Benefit Plan Disclosure [Line Items]
Service cost	$ 402	$ 604	$ 1,764
Interest cost	2,991	3,050	2,990
Expected return on plan assets	(3,847)	(3,999)	(4,031)
Amortization of prior service (credits)/costs	(39)	38	196
Recognized net actuarial loss	804	790	1,577
Settlement/curtailment/other losses	1	40	290
Net periodic benefit cost	312	523	2,786
Net periodic benefit cost included in Earnings from operations	639	1,979	2,366
Other Postretirement Benefits Plans [Member]
Defined Benefit Plan Disclosure [Line Items]
Service cost	106	128	140
Interest cost	229	262	248
Expected return on plan assets	(7)	(8)	(8)
Amortization of prior service (credits)/costs	(137)	(126)	(136)
Recognized net actuarial loss	10	22	31
Settlement/curtailment/other losses			10
Net periodic benefit cost	201	278	285
Net periodic benefit cost included in Earnings from operations	$ 262	$ 274	$ 288

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Postretirement Plans (Schedule Of Changes In The Benefit Obligation, Plan Assets And Funded Status Of Both Pensions And OPB) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Company contribution	$ 3,500
Defined Benefit Plan, Amounts for Asset (Liability) Recognized in Statement of Financial Position [Abstract]
Accrued pension plan liability, net	(16,471)	$ (19,943)
Pension Plans [Member]
Defined Benefit Plan, Change in Benefit Obligation [Roll Forward]
Beginning balance	76,745	74,388
Service cost	402	604	$ 1,764
Interest cost	2,991	3,050	2,990
Plan participants’ contributions		1
Amendments	(7)	6
Actuarial loss/(gain)	5,653	2,669
Settlement/curtailment/other	(751)	(63)
Gross benefits paid	(4,658)	(3,903)
Exchange rate adjustment	18	(7)
Ending balance	80,393	76,745	74,388
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Beginning balance at fair value	56,692	56,514
Actual return on plan assets	8,552	3,885
Company contribution	4,025	113
Plan participants’ contributions		1
Settlement payments	(744)	(24)
Benefits paid	(4,530)	(3,791)
Exchange rate adjustment	16	(6)
Ending balance at fair value	64,011	56,692	56,514
Defined Benefit Plan, Amounts for Asset (Liability) Recognized in Statement of Financial Position [Abstract]
Other assets	218	3
Other accrued liabilities	(129)	(113)
Accrued pension plan liability, net	(16,471)	(19,943)
Net amount recognized	(16,382)	(20,053)
Other Postretirement Benefits Plans [Member]
Defined Benefit Plan, Change in Benefit Obligation [Roll Forward]
Beginning balance	6,431	7,138
Service cost	106	128	140
Interest cost	229	262	248
Amendments	(35)	(57)
Actuarial loss/(gain)	(204)	(612)
Settlement/curtailment/other
Gross benefits paid	(481)	(469)
Subsidies	33	37
Exchange rate adjustment	6	4
Ending balance	6,085	6,431	7,138
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Beginning balance at fair value	134	132
Actual return on plan assets	15	7
Company contribution	6	6
Plan participants’ contributions	4	7
Benefits paid	(16)	(18)
Ending balance at fair value	143	134	$ 132
Defined Benefit Plan, Amounts for Asset (Liability) Recognized in Statement of Financial Position [Abstract]
Other accrued liabilities	(397)	(381)
Accrued retiree health care	(5,545)	(5,916)
Net amount recognized	$ (5,942)	$ (6,297)

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Postretirement Plans (Schedule Of Amounts Recognized In Accumulated Other Comprehensive Loss) (Details) - USD ($) $ in Millions	Dec. 31, 2017	Dec. 31, 2016
Pension Plans [Member]
Defined Benefit Plan Disclosure [Line Items]
Net actuarial loss/(gain)	$ 22,942	$ 22,802
Prior service (credits)	(1,211)	(1,243)
Total recognized in Accumulated other comprehensive loss	21,731	21,559
Other Postretirement Benefits Plans [Member]
Defined Benefit Plan Disclosure [Line Items]
Net actuarial loss/(gain)	(59)	152
Prior service (credits)	(226)	(328)
Total recognized in Accumulated other comprehensive loss	$ (285)	$ (176)

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Postretirement Plans (Schedule Of Estimated Amount That Will Be Amortized From Accumulated Other Comprehensive Loss Into Net Periodic Benefit Cost) (Details) $ in Millions	Dec. 31, 2017 USD ($)
Pension Plans [Member]
Defined Benefit Plan Disclosure [Line Items]
Recognized net actuarial loss/(gain)	$ 1,128
Amortization of prior service (credits)	(56)
Total	1,072
Other Postretirement Benefits Plans [Member]
Defined Benefit Plan Disclosure [Line Items]
Recognized net actuarial loss/(gain)	(10)
Amortization of prior service (credits)	(126)
Total	$ (136)

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Postretirement Plans (Schedule Of Key Information For All Plans With ABO In Excess Of Plan Assets) (Details) - Pension Plans [Member] - USD ($) $ in Millions	Dec. 31, 2017	Dec. 31, 2016
Defined Benefit Plan Disclosure [Line Items]
Projected benefit obligation	$ 74,953	$ 76,586
Accumulated benefit obligation	71,975	74,081
Fair value of plan assets	$ 58,353	$ 56,530

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Postretirement Plans (Schedule Of Assumptions Used To Calculate The Benefit Obligation) (Details)	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Defined Benefit Plan Disclosure [Line Items]
Expected return on plan assets	6.80%	6.80%	7.00%
Rate of compensation increase	5.30%	4.40%	4.00%
Pension Plans [Member]
Defined Benefit Plan Disclosure [Line Items]
Discount rate	3.60%	4.00%	4.20%
Other Postretirement Benefits Plans [Member]
Defined Benefit Plan Disclosure [Line Items]
Discount rate	3.30%	3.70%	3.80%

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Postretirement Plans (Schedule Of Assumed Health Care Cost Trend Rates) (Details)	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Retirement Benefits, Description [Abstract]
Health care cost trend rate assumed next year	6.00%	6.50%	6.50%
Ultimate trend rate	4.50%	5.00%	5.00%
Year that trend reached ultimate rate	2021	2021	2021

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Postretirement Plans (Schedule Of One-Percentage-Point Change In Assumed Health Care Cost Trend Rates) (Details) $ in Millions	12 Months Ended
	Dec. 31, 2017 USD ($)
Retirement Benefits, Description [Abstract]
Effect on total of service and interest cost, Increase	$ 45
Effect on total of service and interest cost, Decrease	(37)
Effect on postretirement benefit obligation, Increase	529
Effect on postretirement benefit obligation, Decrease	$ (448)

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Postretirement Plans (Schedule Of Actual Allocations For The Pension Assets And Target Allocations By Asset Class) (Details) - Pension Plans [Member]	Dec. 31, 2017	Dec. 31, 2016
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, actual plan asset allocations	100.00%	100.00%
Defined benefit plan, target plan asset allocations	100.00%	100.00%
Fixed Income Securities [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, actual plan asset allocations	46.00%	48.00%
Defined benefit plan, target plan asset allocations	47.00%	47.00%
Equity securities [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, actual plan asset allocations	31.00%	28.00%
Defined benefit plan, target plan asset allocations	29.00%	29.00%
Private Equity Funds [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, actual plan asset allocations	5.00%	5.00%
Defined benefit plan, target plan asset allocations	5.00%	5.00%
Real estate and real assets [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, actual plan asset allocations	8.00%	9.00%
Defined benefit plan, target plan asset allocations	9.00%	9.00%
Hedge Funds [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, actual plan asset allocations	10.00%	10.00%
Defined benefit plan, target plan asset allocations	10.00%	10.00%

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Postretirement Plans (Schedule Of Allocation of Plan Assets) (Details) - Pension Plans [Member] - USD ($) $ in Millions		Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Fair Value Measurement [Domain]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Fair Value of Plan Assets		$ 42,305	$ 37,866
Defined Benefit Plan, Fair Value of Plan Assets		64,011	56,692	$ 56,514
Defined Benefit Plan, Plan Assets Measured at Net Asset Value		21,297	18,519
Fair Value, Inputs, Level 1 [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Fair Value of Plan Assets		11,790	11,968
Fair Value, Inputs, Level 2 [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Fair Value of Plan Assets		30,200	25,548
Fair Value, Inputs, Level 3 [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Fair Value of Plan Assets		315	350	464
Fixed Income Securities [Member] | Corporate [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Fair Value of Plan Assets		19,603	16,730
Fixed Income Securities [Member] | Corporate [Member] | Fair Value, Inputs, Level 2 [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Fair Value of Plan Assets		19,591	16,723
Fixed Income Securities [Member] | Corporate [Member] | Fair Value, Inputs, Level 3 [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Fair Value of Plan Assets	[1]	12	12
Fixed Income Securities [Member] | Corporate and other [Member] | Fair Value, Inputs, Level 3 [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Fair Value of Plan Assets	[1]		7	11
Fixed Income Securities [Member] | US Government and agencies [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Fair Value of Plan Assets		5,430	4,876
Fixed Income Securities [Member] | US Government and agencies [Member] | Fair Value, Inputs, Level 2 [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Fair Value of Plan Assets		5,430	4,875
Fixed Income Securities [Member] | US Government and agencies [Member] | Fair Value, Inputs, Level 3 [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Fair Value of Plan Assets			1	1
Fixed Income Securities [Member] | Mortgage backed, asset back, and other securities [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Fair Value of Plan Assets		760
Fixed Income Securities [Member] | Mortgage backed, asset back, and other securities [Member] | Fair Value, Inputs, Level 2 [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Fair Value of Plan Assets		460
Fixed Income Securities [Member] | Mortgage backed, asset back, and other securities [Member] | Fair Value, Inputs, Level 3 [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Fair Value of Plan Assets	[1]	300	331
Fixed Income Securities [Member] | Mortgage backed and asset backed securities [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Fair Value of Plan Assets			706
Fixed Income Securities [Member] | Mortgage backed and asset backed securities [Member] | Fair Value, Inputs, Level 2 [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Fair Value of Plan Assets			370
Fixed Income Securities [Member] | Mortgage backed and asset backed securities [Member] | Fair Value, Inputs, Level 3 [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Fair Value of Plan Assets	[1]		336	440
Fixed Income Securities [Member] | Municipal [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Fair Value of Plan Assets		1,355	1,398
Fixed Income Securities [Member] | Municipal [Member] | Fair Value, Inputs, Level 2 [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Fair Value of Plan Assets		1,355	1,398
Fixed Income Securities [Member] | Sovereign [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Fair Value of Plan Assets		1,237	782
Fixed Income Securities [Member] | Sovereign [Member] | Fair Value, Inputs, Level 2 [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Fair Value of Plan Assets		1,237	782
Fixed Income Securities [Member] | Other Debt Obligations [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Fair Value of Plan Assets		118	74
Defined Benefit Plan, Plan Assets Measured at Net Asset Value		303	227
Fixed Income Securities [Member] | Other Debt Obligations [Member] | Fair Value, Inputs, Level 1 [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Fair Value of Plan Assets		59	9
Fixed Income Securities [Member] | Other Debt Obligations [Member] | Fair Value, Inputs, Level 2 [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Fair Value of Plan Assets		59	65
Fixed Income Securities [Member] | Derivative Assets [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Fair Value of Plan Assets		49	40
Fixed Income Securities [Member] | Derivative Assets [Member] | Fair Value, Inputs, Level 2 [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Fair Value of Plan Assets		49	40
Fixed Income Securities [Member] | Derivative Liabilities [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Fair Value of Plan Assets		(25)	(38)
Fixed Income Securities [Member] | Derivative Liabilities [Member] | Fair Value, Inputs, Level 2 [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Fair Value of Plan Assets		(25)	(38)
Fixed Income Securities [Member] | Common Or Collective Or Pooled Funds [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets Measured at Net Asset Value		1,257	1,625
Cash Equivalents And Other Short-Term Investments [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Fair Value of Plan Assets		1,778	1,037
Cash Equivalents And Other Short-Term Investments [Member] | Fair Value, Inputs, Level 2 [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Fair Value of Plan Assets		1,778	1,037
Equity securities [Member] | Derivative Assets [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Fair Value of Plan Assets		4	6
Equity securities [Member] | Derivative Assets [Member] | Fair Value, Inputs, Level 1 [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Fair Value of Plan Assets		1
Equity securities [Member] | Derivative Assets [Member] | Fair Value, Inputs, Level 2 [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Fair Value of Plan Assets		3	6
Equity securities [Member] | Derivative Liabilities [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Fair Value of Plan Assets		(4)	(8)
Equity securities [Member] | Derivative Liabilities [Member] | Fair Value, Inputs, Level 2 [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Fair Value of Plan Assets		(4)	(8)
Equity securities [Member] | Common Or Collective Or Pooled Funds [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets Measured at Net Asset Value		6,786	4,962
Equity securities [Member] | United States Common And Preferred Stock [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Fair Value of Plan Assets		4,615	5,374
Equity securities [Member] | United States Common And Preferred Stock [Member] | Fair Value, Inputs, Level 1 [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Fair Value of Plan Assets		4,615	5,373
Equity securities [Member] | United States Common And Preferred Stock [Member] | Fair Value, Inputs, Level 3 [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Fair Value of Plan Assets			1	1
Equity securities [Member] | Non United States Common And Preferred Stock [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Fair Value of Plan Assets		6,204	5,746
Equity securities [Member] | Non United States Common And Preferred Stock [Member] | Fair Value, Inputs, Level 1 [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Fair Value of Plan Assets		6,204	5,746
Equity securities [Member] | Non United States Common And Preferred Stock [Member] | Fair Value, Inputs, Level 3 [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Fair Value of Plan Assets				2
Private Equity Funds [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets Measured at Net Asset Value		2,767	2,639
Private Equity Funds [Member] | Fair Value, Inputs, Level 3 [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Fair Value of Plan Assets				3
Real estate and real assets [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets Measured at Net Asset Value		3,744	3,625
Real estate and real assets [Member] | Derivative Assets [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Fair Value of Plan Assets		17	4
Real estate and real assets [Member] | Derivative Assets [Member] | Fair Value, Inputs, Level 2 [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Fair Value of Plan Assets		17	4
Real estate and real assets [Member] | Derivative Liabilities [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Fair Value of Plan Assets		(3)	(1)
Real estate and real assets [Member] | Derivative Liabilities [Member] | Fair Value, Inputs, Level 2 [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Fair Value of Plan Assets		(3)	(1)
Real estate and real assets [Member] | Real Estate [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Fair Value of Plan Assets		462	468
Real estate and real assets [Member] | Real Estate [Member] | Fair Value, Inputs, Level 1 [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Fair Value of Plan Assets		462	468
Real estate and real assets [Member] | Real assets [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Fair Value of Plan Assets		705	672
Real estate and real assets [Member] | Real assets [Member] | Fair Value, Inputs, Level 1 [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Fair Value of Plan Assets		449	372
Real estate and real assets [Member] | Real assets [Member] | Fair Value, Inputs, Level 2 [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Fair Value of Plan Assets		253	295
Real estate and real assets [Member] | Real assets [Member] | Fair Value, Inputs, Level 3 [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Fair Value of Plan Assets		3	5	$ 6
Hedge Funds [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets Measured at Net Asset Value		6,440	5,441
Cash On Hand [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Fair Value of Plan Assets		170	160
Receivables [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Fair Value of Plan Assets		436	374
Payables [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Fair Value of Plan Assets		$ (197)	$ (227)

[1] Certain fixed income securities were reclassified between mortgage backed and asset backed to corporate on January 1, 2017 and 2016.

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Postretirement Plans (Reconciliation Of Level 3 Assets Held) (Details) - Pension Plans [Member] - USD ($) $ in Millions		12 Months Ended
		Dec. 31, 2017	Dec. 31, 2016
Defined Benefit Plan, Change in Fair Value of Plan Assets, Level 3 Reconciliation [Roll Forward]
Beginning balance at fair value		$ 56,692	$ 56,514
Net Realized and Unrealized Gains/(Losses)		8,552	3,885
Net Purchases, Issuances and Settlements		(744)	(24)
Ending balance at fair value		64,011	56,692
Level 3 [Member]
Defined Benefit Plan, Change in Fair Value of Plan Assets, Level 3 Reconciliation [Roll Forward]
Beginning balance at fair value		350	464
Net Realized and Unrealized Gains/(Losses)		9	4
Net Purchases, Issuances and Settlements		(40)	(97)
Net Transfers Into/(Out of) Level 3		(4)	(21)
Ending balance at fair value		315	350
Fixed Income Securities [Member] | Corporate [Member]
Defined Benefit Plan, Change in Fair Value of Plan Assets, Level 3 Reconciliation [Roll Forward]
Beginning balance at fair value		16,730
Ending balance at fair value		19,603	16,730
Fixed Income Securities [Member] | Corporate [Member] | Level 3 [Member]
Defined Benefit Plan, Change in Fair Value of Plan Assets, Level 3 Reconciliation [Roll Forward]
Beginning balance at fair value	[1]	12
Net Purchases, Issuances and Settlements	[1]	1
Net Transfers Into/(Out of) Level 3	[1]	(1)
Ending balance at fair value	[1]	12	12
Fixed Income Securities [Member] | US Treasury and Government [Member]
Defined Benefit Plan, Change in Fair Value of Plan Assets, Level 3 Reconciliation [Roll Forward]
Beginning balance at fair value		4,876
Ending balance at fair value		5,430	4,876
Fixed Income Securities [Member] | US Treasury and Government [Member] | Level 3 [Member]
Defined Benefit Plan, Change in Fair Value of Plan Assets, Level 3 Reconciliation [Roll Forward]
Beginning balance at fair value		1	1
Net Transfers Into/(Out of) Level 3		(1)
Ending balance at fair value			1
Fixed Income Securities [Member] | Mortgage backed, asset back, and other securities [Member]
Defined Benefit Plan, Change in Fair Value of Plan Assets, Level 3 Reconciliation [Roll Forward]
Ending balance at fair value		760
Fixed Income Securities [Member] | Mortgage backed, asset back, and other securities [Member] | Level 3 [Member]
Defined Benefit Plan, Change in Fair Value of Plan Assets, Level 3 Reconciliation [Roll Forward]
Beginning balance at fair value	[1]	331
Net Realized and Unrealized Gains/(Losses)	[1]	10
Net Purchases, Issuances and Settlements	[1]	(39)
Net Transfers Into/(Out of) Level 3	[1]	(2)
Ending balance at fair value	[1]	300	331
Fixed Income Securities [Member] | Mortgage backed and asset backed
Defined Benefit Plan, Change in Fair Value of Plan Assets, Level 3 Reconciliation [Roll Forward]
Beginning balance at fair value		706
Ending balance at fair value			706
Fixed Income Securities [Member] | Mortgage backed and asset backed | Level 3 [Member]
Defined Benefit Plan, Change in Fair Value of Plan Assets, Level 3 Reconciliation [Roll Forward]
Beginning balance at fair value	[1]	336	440
Net Realized and Unrealized Gains/(Losses)	[1]		7
Net Purchases, Issuances and Settlements	[1]		(93)
Net Transfers Into/(Out of) Level 3	[1]		(18)
Ending balance at fair value	[1]		336
Fixed Income Securities [Member] | Corporate and other [Member] | Level 3 [Member]
Defined Benefit Plan, Change in Fair Value of Plan Assets, Level 3 Reconciliation [Roll Forward]
Beginning balance at fair value	[1]	7	11
Net Purchases, Issuances and Settlements	[1]		(1)
Net Transfers Into/(Out of) Level 3	[1]		(3)
Ending balance at fair value	[1]		7
Fixed Income Securities [Member] | Other Debt Obligations [Member]
Defined Benefit Plan, Change in Fair Value of Plan Assets, Level 3 Reconciliation [Roll Forward]
Beginning balance at fair value		74
Ending balance at fair value		118	74
Equity securities [Member] | United States Common And Preferred Stock [Member]
Defined Benefit Plan, Change in Fair Value of Plan Assets, Level 3 Reconciliation [Roll Forward]
Beginning balance at fair value		5,374
Ending balance at fair value		4,615	5,374
Equity securities [Member] | United States Common And Preferred Stock [Member] | Level 3 [Member]
Defined Benefit Plan, Change in Fair Value of Plan Assets, Level 3 Reconciliation [Roll Forward]
Beginning balance at fair value		1	1
Net Realized and Unrealized Gains/(Losses)		(1)
Ending balance at fair value			1
Equity securities [Member] | Non United States Common And Preferred Stock [Member]
Defined Benefit Plan, Change in Fair Value of Plan Assets, Level 3 Reconciliation [Roll Forward]
Beginning balance at fair value		5,746
Ending balance at fair value		6,204	5,746
Equity securities [Member] | Non United States Common And Preferred Stock [Member] | Level 3 [Member]
Defined Benefit Plan, Change in Fair Value of Plan Assets, Level 3 Reconciliation [Roll Forward]
Beginning balance at fair value			2
Net Purchases, Issuances and Settlements			(2)
Private Equity Funds [Member] | Level 3 [Member]
Defined Benefit Plan, Change in Fair Value of Plan Assets, Level 3 Reconciliation [Roll Forward]
Beginning balance at fair value			3
Net Realized and Unrealized Gains/(Losses)			(3)
Real estate and real assets [Member] | Real assets [Member]
Defined Benefit Plan, Change in Fair Value of Plan Assets, Level 3 Reconciliation [Roll Forward]
Beginning balance at fair value		672
Ending balance at fair value		705	672
Real estate and real assets [Member] | Real assets [Member] | Level 3 [Member]
Defined Benefit Plan, Change in Fair Value of Plan Assets, Level 3 Reconciliation [Roll Forward]
Beginning balance at fair value		5	6
Net Purchases, Issuances and Settlements		(2)	(1)
Ending balance at fair value		$ 3	$ 5

[1] Certain fixed income securities were reclassified between mortgage backed and asset backed to corporate on January 1, 2017 and 2016.

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Postretirement Plans (Schedule Of Estimated Future Benefit Payments) (Details) $ in Millions	Dec. 31, 2017 USD ($)
Pension Plans [Member]
Defined Benefit Plan Disclosure [Line Items]
Expected future benefit payments, 2018	$ 4,758
Expected future benefit payments, 2019	4,712
Expected future benefit payments, 2020	4,740
Expected future benefit payments, 2021	4,703
Expected future benefit payments, 2022	4,631
Expected future benefit payments, 2023-2027	22,770
Other Postretirement Benefits Plans [Member]
Defined Benefit Plan Disclosure [Line Items]
Expected future benefit payments, 2018	480
Expected future benefit payments, 2019	491
Expected future benefit payments, 2020	500
Expected future benefit payments, 2021	503
Expected future benefit payments, 2022	499
Expected future benefit payments, 2023-2027	2,277
Gross benefits paid, 2018	496
Gross benefits paid, 2019	507
Gross benefits paid, 2020	517
Gross benefits paid, 2021	520
Gross benefits paid, 2022	516
Gross benefits paid, 2023-2027	2,364
Subsidies, 2018	(16)
Subsidies, 2019	(16)
Subsidies, 2020	(17)
Subsidies, 2021	(17)
Subsidies, 2022	(17)
Subsidies, 2023-2027	$ (87)

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Share-Based Compensation And Other Compensation Arrangements (Narrative) (Details) - USD ($)				1 Months Ended		12 Months Ended
	Feb. 27, 2017	Feb. 22, 2016	Feb. 23, 2015	Feb. 29, 2016	Feb. 28, 2015	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015	Feb. 28, 2017	Feb. 28, 2016
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Aggregate number of shares of stock available for issuance						87,000,000
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period						4,417,218	8,646,612
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period, Total Intrinsic Value						$ 491,000,000	$ 265,000,000	$ 385,000,000
Stock options exercised						311,000,000	321,000,000	399,000,000
Employee Service Share-based Compensation, Tax Benefit from Exercise of Stock Options						175,000,000	94,000,000	135,000,000
Grant date fair value of stock options vested						0	27,000,000	56,000,000
Deferred compensation						240,000,000	46,000,000	63,000,000
Deferred compensation liability which is being marked to market						$ 1,547,000,000	1,289,000,000
Stock Options [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based payment award options expiration term (in years)						10 years
Award vesting period (in years)						3 years
Restricted Stock Units (RSUs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted stock units (RSUs) granted	523,835			777,837	590,778
Restricted stock units (RSUs) granted (fair value per share)	$ 178.72			$ 117.50	$ 154.64
Performance Awards [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period (in years)	3 years
Performance Awards [Member] | 2016 Performance Awards [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Initial Value Of Performance Awards (per unit)	$ 100
Performance Awards [Member] | 2015 Performance Awards [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period (in years)				3 years
Performance Awards [Member] | 2014 Performance Awards [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period (in years)					3 years
Performance Awards [Member] | Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Performance Award Payout Amount, Aggregate						$ 0
Performance Awards [Member] | Minimum [Member] | 2016 Performance Awards [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Amount payable at end of three-year performance period3	0
Performance Awards [Member] | Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Amount payable at end of three-year performance period3				$ 200	$ 200
Performance Award Payout Amount, Aggregate						$ 352,000,000
Performance Awards [Member] | Maximum [Member] | 2016 Performance Awards [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Amount payable at end of three-year performance period3	$ 200
Performance Awards [Member] | Maximum [Member] | 2015 Performance Awards [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Performance Award Payout Amount, Aggregate							$ 318,000,000
Performance Awards [Member] | Maximum [Member] | 2014 Performance Awards [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Performance Award Payout Amount, Aggregate								$ 312,000,000
Performance Based Restricted Stock Units (PBRSUs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period (in years)	3 years	3 years	3 years
Restricted stock units (RSUs) granted	492,273	721,176	556,203
Restricted stock units (RSUs) granted (fair value per share)	$ 190.17	$ 126.74	$ 164.26
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Volatility Rate	21.37%	22.44%	20.35%
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Risk Free Interest Rate	1.46%	0.92%	1.03%
Performance Based Restricted Stock Units (PBRSUs) [Member] | 2016 PBRSU [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Initial PBRSU value, percentage of value it cannot exceed									400.00%
Performance Based Restricted Stock Units (PBRSUs) [Member] | 2015 PBRSU [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Initial PBRSU value, percentage of value it cannot exceed										400.00%
Performance Based Restricted Stock Units (PBRSUs) [Member] | 2014 PBRSU [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Initial PBRSU value, percentage of value it cannot exceed			400.00%
Performance Based Restricted Stock Units (PBRSUs) [Member] | Minimum [Member] | 2016 PBRSU [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award Payout Range									0.00%
Performance Based Restricted Stock Units (PBRSUs) [Member] | Minimum [Member] | 2015 PBRSU [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award Payout Range										0.00%
Performance Based Restricted Stock Units (PBRSUs) [Member] | Minimum [Member] | 2014 PBRSU [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award Payout Range			0.00%
Performance Based Restricted Stock Units (PBRSUs) [Member] | Maximum [Member] | 2016 PBRSU [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award Payout Range									200.00%
Performance Based Restricted Stock Units (PBRSUs) [Member] | Maximum [Member] | 2015 PBRSU [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award Payout Range										200.00%
Performance Based Restricted Stock Units (PBRSUs) [Member] | Maximum [Member] | 2014 PBRSU [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award Payout Range			200.00%

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Share-Based Compensation And Other Compensation Arrangements (Schedule Of Share-Based Plans Expense And Related Income Tax Benefit) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based plans expense	$ 212	$ 193	$ 190
Income tax benefit	46	69	68
Stock Options [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based plans expense		4	30
Restricted Stock Units and Other Awards [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based plans expense	$ 212	$ 189	$ 160

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Share-Based Compensation And Other Compensation Arrangements (Schedule Of Stock Option Activity) (Details) $ / shares in Units, $ in Millions	12 Months Ended
	Dec. 31, 2017 USD ($) $ / shares shares
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward]
Shares, Outstanding at beginning of year | shares	8,646,612
Shares, Exercised | shares	(4,224,194)
Shares, Expired | shares	(5,200)
Shares, Outstanding at end of year | shares	4,417,218
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price [Roll Forward]
Weighted Average Exercise Price Per Share, Outstanding at beginning of year | $ / shares	$ 72.64
Weighted Average Exercise Price Per Share, Exercised | $ / shares	73.61
Weighted Average Exercise Price Per Share, Expired | $ / shares	89.65
Weighted Average Exercise Price Per Share, Outstanding at end of year | $ / shares	$ 71.69
Share-based Compensation Arrangement by Share-based Payment Award, Options, Additional Disclosures [Abstract]
Weighted Average Remaining Contractual Life (Years), Outstanding at end of year	3 years 11 months 5 days
Aggregate Intrinsic Value, Outstanding at end of year | $	$ 986
Shares, Exercisable at end of year | shares	4,417,218
Weighted Average Exercise Price Per Share, Exercisable at end of year | $ / shares	$ 71.69
Weighted Average Remaining Contractual Life (Years), Exercisable at end of year	3 years 11 months 5 days
Aggregate Intrinsic Value, Exercisable at end of year | $	$ 986

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Share-Based Compensation And Other Compensation Arrangements Schedule of PBRSUs Grant Fair Values (Details) - Performance Based Restricted Stock Units (PBRSUs) [Member] - $ / shares	Feb. 27, 2017	Feb. 22, 2016	Feb. 23, 2015
Schedule of Performance Based Restricted Stock Units Grant Date Fair values [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period	3 years	3 years	3 years
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value	$ 190.17	$ 126.74	$ 164.26
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Volatility Rate	21.37%	22.44%	20.35%
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Risk Free Interest Rate	1.46%	0.92%	1.03%

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Share-Based Compensation And Other Compensation Arrangements (Schedule Of Stock Unit Activity) (Details) $ in Millions	12 Months Ended
	Dec. 31, 2017 USD ($) shares
Share-based Compensation Arrangement by Share-based Payment Award, Additional General Disclosures [Abstract]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Remaining Contractual Term	3 years 11 months 5 days
Incentive Program Restricted Stock Units [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Number of units, Outstanding at beginning of year	1,814,644
Number of units, Granted	570,538
Number of units, Dividends	45,799
Number of units, Forfeited	(142,907)
Number of units, Distributed	(660,972)
Number of units, Outstanding at end of year	1,627,102
Share-based Compensation Arrangement by Share-based Payment Award, Additional General Disclosures [Abstract]
Unrecognized compensation cost | $	$ 98
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Remaining Contractual Term	1 year 9 months 22 days
Other Restricted Stock Units [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Number of units, Outstanding at beginning of year	1,077,920
Number of units, Granted	390,152
Number of units, Dividends	30,477
Number of units, Forfeited	(40,670)
Number of units, Distributed	(301,417)
Number of units, Outstanding at end of year	1,156,462
Share-based Compensation Arrangement by Share-based Payment Award, Additional General Disclosures [Abstract]
Unrecognized compensation cost | $	$ 82
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Remaining Contractual Term	3 years 4 months 22 days
Incentive Program Performance Based Restricted Stock Units [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Number of units, Outstanding at beginning of year	1,746,511
Number of units, Granted	492,273
Share-based Compensation Arrangement by Share-based Payment Award, Other Share Increase (Decrease)	137,363	[1]
Number of units, Dividends	54,683
Number of units, Forfeited	(130,367)
Number of units, Distributed	(748,729)
Number of units, Outstanding at end of year	1,551,734
Share-based Compensation Arrangement by Share-based Payment Award, Additional General Disclosures [Abstract]
Unrecognized compensation cost | $	$ 90
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Remaining Contractual Term	1 year 9 months 22 days

[1] Represents net incremental number of units issued at vesting based on TSR for units granted in 2014

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Shareholders' Equity (Narrative) (Details) - USD ($) $ in Millions	Dec. 31, 2017	Dec. 11, 2017	Dec. 31, 2016
Equity, Class of Treasury Stock [Line Items]
Common stock, authorized	1,200,000,000		1,200,000,000
Preferred shares, authorized	20,000,000		20,000,000
2017 Program [Member]
Equity, Class of Treasury Stock [Line Items]
Amount approved to repurchase, shares, maximum		$ 18,000

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Shareholders' Equity (Schedule Of Changes In Each Class Of Shares) (Details) - shares	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Common Stock, Number of Shares, Par Value and Other Disclosures [Abstract]
Beginning balance, Common Stock	1,012,261,159	1,012,261,159	1,012,261,159
Ending balance, Common Stock	1,012,261,159	1,012,261,159	1,012,261,159
Treasury Stock, Number of Shares and Restriction Disclosures [Abstract]
Beginning balance, Treasury Stock	395,109,568	345,637,354	305,533,606
Stock Issued During Period, Shares, Treasury Stock Reissued	20,746,426	6,376,868	7,288,113
Acquired, Treasury Stock	46,859,184	55,849,082	47,391,861
Ending balance, Treasury Stock	421,222,326	395,109,568	345,637,354

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Shareholders' Equity (Accumulated other comprehensive income) (Details) - USD ($) $ in Millions		12 Months Ended
		Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
Balance	[1]	$ (13,623)	$ (12,748)	$ (13,903)
OCI before reclassifications	[1]	(230)	(1,434)	(51)
Amounts reclassified from AOCI	[1]	477	559	1,206
Net current period OCI	[1]	247	(875)	1,155
Balance	[1]	(13,376)	(13,623)	(12,748)
Defined benefit pension plans & other postretirement benefits:
Amortization of actuarial losses included in net periodic pension cost, net of tax of ($570), ($367), and ($849)		542	524	1,038
Amortization of actuarial losses included in net periodic pension cost, tax		(272)	(288)	(570)
Currency Translation Adjustments [Member]
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
Balance		(143)	(39)	53
OCI before reclassifications		128	(104)	(92)
Amounts reclassified from AOCI
Net current period OCI		128	(104)	(92)
Balance		(15)	(143)	(39)
Unrealized Gains and Losses on Certain Investments
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
Balance		(2)	0	(8)
OCI before reclassifications		1	(2)	8
Amounts reclassified from AOCI
Net current period OCI		1	(2)	8
Balance		(1)	(2)	0
Unrealized Gains and Losses on Derivative Instruments
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
Balance		(127)	(197)	(136)
OCI before reclassifications		119	(8)	(140)
Amounts reclassified from AOCI		52	78	79
Net current period OCI		171	70	(61)
Balance		44	(127)	(197)
Defined Benefit Pension Plans and Other Postretirement Benefits
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
Balance		(13,351)	(12,512)	(13,812)
OCI before reclassifications		(478)	(1,320)	173
Amounts reclassified from AOCI	[2]	425	481	1,127
Net current period OCI		(53)	(839)	1,300
Balance		$ (13,404)	$ (13,351)	$ (12,512)

[1] Net of tax.

[2] Primarily relates to amortization of actuarial losses for the years ended December 31, 2017, 2016, and 2015 totaling $542, $524, and $1,038 (net of tax of ($272), ($288), and ($570)), respectively. These are included in the net periodic pension cost of which a portion is allocated to production as inventoried costs. See Note 14.

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Derivative Financial Instruments (Narrative) (Details) $ in Millions	12 Months Ended
	Dec. 31, 2017 USD ($)
Derivative [Line Items]
Cash flow hedge gain/(loss) to be reclassified during the next 12 months, pre-tax	$ (12)
Fair value of foreign exchange and commodity contracts that have credit-risk-related contingent features that are in a net liability position	$ 13

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Derivative Financial Instruments (Schedule Of Notional Amounts And Fair Values Of Derivative Instruments) (Details) - USD ($) $ in Millions		Dec. 31, 2017	Dec. 31, 2016
Derivative [Line Items]
Notional amounts	[1]	$ 4,080	$ 3,875
Other assets		154	68
Accrued liabilities		(74)	(247)
Derivative Asset, Collateral, Obligation to Return Cash, Offset		(61)	(45)
Derivative Liability, Collateral, Right to Reclaim Cash, Offset		61	45
Net recorded balance, Other assets		93	23
Net recorded balance, Accrued liabilities		(13)	(202)
Foreign Exchange Contracts [Member] | Designated as Hedging Instrument [Member]
Derivative [Line Items]
Notional amounts		2,930	2,584
Other assets		131	34
Accrued liabilities		(63)	(225)
Foreign Exchange Contracts [Member] | Not Designated as Hedging Instrument [Member]
Derivative [Line Items]
Notional amounts		406	465
Other assets		16	21
Accrued liabilities		(5)	(17)
Interest Rate Contracts [Member] | Designated as Hedging Instrument [Member]
Derivative [Line Items]
Notional amounts		125	125
Other assets		3	6
Commodity Contracts [Member] | Designated as Hedging Instrument [Member]
Derivative [Line Items]
Notional amounts		56	53
Other assets		4	7
Accrued liabilities		(6)	(5)
Commodity Contracts [Member] | Not Designated as Hedging Instrument [Member]
Derivative [Line Items]
Notional amounts		$ 563	$ 648

[1] Notional amounts represent the gross contract/notional amount of the derivatives outstanding.

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Derivative Financial Instruments (Schedule Of Derivative Instruments, Gains/(Losses) In Statement Of Financial Performance) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Derivative [Line Items]
Effective portion recognized in other comprehensive loss, net of taxes	$ 119	$ (8)	$ (140)
Effective portion reclassified out of Accumulated other comprehensive loss into earnings, net of taxes	(52)	(78)	$ (79)
Foreign Exchange Contracts [Member]
Derivative [Line Items]
Effective portion recognized in other comprehensive loss, net of taxes	123	(9)
Effective portion reclassified out of Accumulated other comprehensive loss into earnings, net of taxes	(50)	(70)
Forward points recognized in Other income, net	8	13
Undesignated derivatives recognized in Other income, net:	8	(2)
Commodity Contracts [Member]
Derivative [Line Items]
Effective portion recognized in other comprehensive loss, net of taxes	(4)	1
Effective portion reclassified out of Accumulated other comprehensive loss into earnings, net of taxes	$ (2)	$ (8)

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Significant Group Concentrations Of Risk (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Concentration Risk [Line Items]
Gross accounts receivable and gross customer financing	$ 13,639
Gross customer financing	3,061	$ 4,211
External Credit Rating, Non Investment Grade [Member]
Concentration Risk [Line Items]
Gross customer financing	$ 1,828
Workforce Subject To Collective Bargaining Arrangements [Member]
Concentration Risk [Line Items]
Concentration Risk, Percentage	37.00%
Commercial Aircraft Customers [Member]
Concentration Risk [Line Items]
Gross accounts receivable and gross customer financing	$ 5,572
Accounts Receivable, Gross, Current	2,512
Gross customer financing	3,060
U S Government Contracts [Member]
Concentration Risk [Line Items]
Accounts Receivable, Gross, Current	$ 5,989	$ 4,639
Silk Way Airlines [Member] | Customer Financing [Member] | External Credit Rating, Non Investment Grade [Member]
Concentration Risk [Line Items]
Concentration Risk, Percentage	14.00%
American Airlines [Member] | Customer Financing [Member] | External Credit Rating, Non Investment Grade [Member]
Concentration Risk [Line Items]
Concentration Risk, Percentage	8.00%
Hawaiian Airlines [Member] | Customer Financing [Member] | External Credit Rating, Non Investment Grade [Member]
Concentration Risk [Line Items]
Concentration Risk, Percentage	7.00%

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Fair Value Measurements Fair Value, Assets and Liabilities Measured on Recurring Basis (Details) - USD ($) $ in Millions	Dec. 31, 2017	Dec. 31, 2016
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Derivatives	$ 93	$ 23
Derivatives	(13)	(202)
Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Money market funds	1,582	2,858
Commercial Paper, at Carrying Value	70	162
Available-for-sale Securities, Debt Securities	382	271
Available for Sale Securities, Government Agencies	47	63
Available-for-sale Securities, Equity Securities	18	46
Derivatives	93	23
Total assets	2,192	3,423
Derivatives	(13)	(202)
Total liabilities	(13)	(202)
Fair Value, Measurements, Recurring [Member] | Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Money market funds	1,582	2,858
Available-for-sale Securities, Equity Securities	18	46
Total assets	1,600	2,904
Fair Value, Measurements, Recurring [Member] | Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Commercial Paper, at Carrying Value	70	162
Available-for-sale Securities, Debt Securities	382	271
Available for Sale Securities, Government Agencies	47	63
Derivatives	93	23
Total assets	592	519
Derivatives	(13)	(202)
Total liabilities	$ (13)	$ (202)

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Fair Value Measurements Fair Value, Assets Measured on Nonrecurring Basis Using Unobservable Inputs (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015	Sep. 30, 2016
Fair Value, Assets and Liabilities Measured on Nonrecurring Basis [Line Items]
Nonrecurring fair value losses	$ (113)	$ (90)	$ (167)
Fair Value Measurements Nonrecurring [Member] | Investments [Member]
Fair Value, Assets and Liabilities Measured on Nonrecurring Basis [Line Items]
Nonrecurring fair value losses	(44)
Fair Value Measurements Nonrecurring [Member] | Operating Lease Equipment [Member]
Fair Value, Assets and Liabilities Measured on Nonrecurring Basis [Line Items]
Nonrecurring fair value losses	(32)	(52)
Fair Value Measurements Nonrecurring [Member] | Property, Plant and Equipment [Member]
Fair Value, Assets and Liabilities Measured on Nonrecurring Basis [Line Items]
Nonrecurring fair value losses	(2)	(9)
Fair Value Measurements Nonrecurring [Member] | Other assets and Acquired intangible assets [Member]
Fair Value, Assets and Liabilities Measured on Nonrecurring Basis [Line Items]
Nonrecurring fair value losses	(23)	(10)
Fair Value Measurements Nonrecurring [Member] | Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Nonrecurring Basis [Line Items]
Total Fair Value	113	106
Nonrecurring fair value losses	(101)	(71)
Fair Value Measurements Nonrecurring [Member] | Level 3 [Member] | Market Approach Valuation Technique [Member]
Fair Value, Assets and Liabilities Measured on Nonrecurring Basis [Line Items]
Operating Lease Equipment, Fair Value	90	84
Fair Value Measurements Nonrecurring [Member] | Level 3 [Member] | Income Approach Valuation Technique [Member]
Fair Value, Assets and Liabilities Measured on Nonrecurring Basis [Line Items]
Investments, Fair Value Disclosure	1
Property, Plant, and Equipment, Fair Value	8	10
Other assets and Acquired intangible assets, Fair Value	$ 14	$ 12

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Fair Value Measurements Fair Value, Assets Measured On Nonrecurring Basis, Valuation Techniques (Details) - USD ($) $ in Millions		Dec. 31, 2017	Dec. 31, 2016
Aircraft Value Publications [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis, Valuation Techniques [Line Items]
Equipment under operating leases & Assets held for sale or re-lease, Median		$ 167
Aircraft Value Publications [Member] | Minimum [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis, Valuation Techniques [Line Items]
Equipment under operating leases & Assets held for sale or re-lease, Range	[1]	140
Aircraft Value Publications [Member] | Maximum [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis, Valuation Techniques [Line Items]
Equipment under operating leases & Assets held for sale or re-lease, Range	[1]	191
Aircraft Condition Adjustments [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis, Valuation Techniques [Line Items]
Equipment under operating leases & Assets held for sale or re-lease, Net		(77)
Aircraft Condition Adjustments [Member] | Minimum [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis, Valuation Techniques [Line Items]
Equipment under operating leases & Assets held for sale or re-lease, Range	[2]	(77)
Aircraft Condition Adjustments [Member] | Maximum [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis, Valuation Techniques [Line Items]
Equipment under operating leases & Assets held for sale or re-lease, Range	[2]	0
Fair Value Measurements Nonrecurring [Member] | Level 3 [Member] | Market Approach Valuation Technique [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis, Valuation Techniques [Line Items]
Operating Lease Equipment, Fair Value		$ 90	$ 84

[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.

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Fair Value Measurements Fair Values And Related Carrying Values of Financial Instruments (Details) - USD ($) $ in Millions	Dec. 31, 2017	Dec. 31, 2016
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Notes receivable, Fair Value	$ 682	$ 803
Debt, excluding capital lease obligations, Fair Value	(11,923)	(11,209)
Level 2 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Notes receivable, Fair Value	682	803
Debt, excluding capital lease obligations, Fair Value	(11,823)	(11,078)
Level 3 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt, excluding capital lease obligations, Fair Value	(100)	(131)
Carrying Amount [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Notes receivable, net	677	807
Debt, excluding capital lease obligations, Carrying Amount	$ (10,380)	$ (9,815)

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Segment Information (Narrative) (Details) $ in Millions	12 Months Ended
	Dec. 31, 2017 USD ($) segments	Dec. 31, 2016 USD ($)	Dec. 31, 2015 USD ($)
Segment Reporting Information [Line Items]
Number of Reportable Segments | segments	4
Percent of operating assets located outside the United States	5.00%	4.00%
Earnings from operations associated with our cost and equity method investments | $	$ 233	$ 303	$ 274
U S Government Contracts [Member] | Sales [Member]
Segment Reporting Information [Line Items]
Entity-Wide Revenue, Major Customer, Percentage	31.00%	23.00%	27.00%

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Segment Information (Schedule Of Revenue from External Customers Attributed to Foreign Countries by Geographic Area) (Details) - USD ($) $ in Millions	3 Months Ended								12 Months Ended
	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues	$ 25,368	$ 24,309	$ 22,739	$ 20,976	$ 23,286	$ 23,898	$ 24,755	$ 22,632	$ 93,392	$ 94,571	$ 96,114
Non-U.S. [member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues									51,061	55,806	56,827
Asia, Other Than China [member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues									8,899	10,553	13,433
Europe [member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues									11,457	13,790	12,248
China [member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues									11,911	10,312	12,556
Middle East [member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues									12,287	13,297	10,846
Oceania [member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues									2,061	1,843	2,601
Canada [member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues									2,197	2,076	1,870
Africa [member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues									755	1,999	1,398
Latin America, Caribbean And Other [member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues									1,494	1,936	1,875
United States [member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues									$ 42,331	$ 38,765	$ 39,287

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Segment Information (Schedule Of Depreciation And Amortization Expense By Segment) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Segment Reporting Information [Line Items]
Depreciation and amortization	$ 2,069	$ 1,910	$ 1,833
Operating Segments [Member] | Commercial Airplanes [Member]
Segment Reporting Information [Line Items]
Depreciation and amortization	521	442	388
Operating Segments [Member] | Defense, Space & Security [Member]
Segment Reporting Information [Line Items]
Depreciation and amortization	252	220	248
Operating Segments [Member] | Global Services [Member]
Segment Reporting Information [Line Items]
Depreciation and amortization	322	312	317
Operating Segments [Member] | Boeing Capital Corporation [Member]
Segment Reporting Information [Line Items]
Depreciation and amortization	70	83	87
Unallocated items, eliminations and other [Member]
Segment Reporting Information [Line Items]
Depreciation and amortization	$ 904	$ 853	$ 793

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Segment Information (Schedule Of Capital Expenditures By Segment) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Segment Reporting Information [Line Items]
Capital expenditures	$ 1,739	$ 2,613	$ 2,450
Operating Segments [Member] | Commercial Airplanes [Member]
Segment Reporting Information [Line Items]
Capital expenditures	636	830	819
Operating Segments [Member] | Defense, Space & Security [Member]
Segment Reporting Information [Line Items]
Capital expenditures	210	290	226
Operating Segments [Member] | Global Services [Member]
Segment Reporting Information [Line Items]
Capital expenditures	180	209	132
Unallocated items, eliminations and other [Member]
Segment Reporting Information [Line Items]
Capital expenditures	$ 713	$ 1,284	$ 1,273

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Segment Information (Schedule of Intersegment Revenues, Eliminated In Unallocated Items and Eliminations) (Details) - USD ($) $ in Millions	3 Months Ended								12 Months Ended
	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Segment Reporting Information [Line Items]
Intersegment Revenues	$ 25,368	$ 24,309	$ 22,739	$ 20,976	$ 23,286	$ 23,898	$ 24,755	$ 22,632	$ 93,392	$ 94,571	$ 96,114
Intersegment Eliminations [Member]
Segment Reporting Information [Line Items]
Intersegment Revenues									1,648	2,092	1,810
Commercial Airplanes [Member] | Intersegment Eliminations [Member]
Segment Reporting Information [Line Items]
Intersegment Revenues									1,571	2,001	1,700
Global Services [Member] | Intersegment Eliminations [Member]
Segment Reporting Information [Line Items]
Intersegment Revenues									49	75	95
Boeing Capital Corporation [Member] | Intersegment Eliminations [Member]
Segment Reporting Information [Line Items]
Intersegment Revenues									$ 28	$ 16	$ 15

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Segment Information (Schedule Of Unallocated Items and Eliminations) (Details) - USD ($) $ in Millions	3 Months Ended								12 Months Ended
	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Segment Reporting Information [Line Items]
Share-based plans									$ (202)	$ (190)	$ (189)
Deferred compensation									(240)	(46)	(63)
Amortization of previously capitalized interest									(110)	(170)	(158)
Total	$ 3,030	$ 2,689	$ 2,535	$ 2,024	$ 2,183	$ 2,282	$ (419)	$ 1,788	10,278	5,834	7,443
Pension [Member]
Segment Reporting Information [Line Items]
Pension and Postretirement									(639)	(1,979)	(2,366)
Postretirement [Member]
Segment Reporting Information [Line Items]
Pension and Postretirement									(262)	(274)	(288)
Unallocated Items And Eliminations [Member]
Segment Reporting Information [Line Items]
Share-based plans									(77)	(66)	(76)
Deferred compensation									(240)	(46)	(63)
Amortization of previously capitalized interest									(98)	(94)	(90)
Eliminations and other unallocated items									(640)	(527)	(511)
Operating Loss Excluding Unallocated Pension and Postretirement Adjustments									(1,055)	(733)	(740)
Pension and Postretirement									1,308	370	(298)
Total									253	(363)	(1,038)
Unallocated Items And Eliminations [Member] | Pension [Member]
Segment Reporting Information [Line Items]
Pension and Postretirement									1,120	217	(421)
Unallocated Items And Eliminations [Member] | Postretirement [Member]
Segment Reporting Information [Line Items]
Pension and Postretirement									$ 188	$ 153	$ 123

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Segment Information (Reconciliation of Assets from Segment to Consolidated) (Details) - USD ($) $ in Millions	Dec. 31, 2017	Dec. 31, 2016
Segment Reporting Information [Line Items]
Assets	$ 92,333	$ 89,997
Operating Segments [Member] | Commercial Airplanes [Member]
Segment Reporting Information [Line Items]
Assets	47,737	46,745
Operating Segments [Member] | Defense, Space & Security [Member]
Segment Reporting Information [Line Items]
Assets	15,865	14,123
Operating Segments [Member] | Global Services [Member]
Segment Reporting Information [Line Items]
Assets	12,353	11,490
Operating Segments [Member] | Boeing Capital Corporation [Member]
Segment Reporting Information [Line Items]
Assets	3,156	4,139
Unallocated items, eliminations and other [Member]
Segment Reporting Information [Line Items]
Assets	$ 13,222	$ 13,500

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Quarterly Financial Data (Narrative) (Details) - USD ($)	1 Months Ended			3 Months Ended								12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Schedule of Quarterly Financial Information [Line Items]
Effective Income Tax Rate Reconciliation, Impact of tax reform legislation, Amount				$ 1,051,000,000
Inventory Write-down										$ 1,235,000,000
Increase/(Decrease) in Earnings from operations due to change in accounting estimate.												$ 14,000,000	$ (912,000,000)	$ (224,000,000)
Incremental tax benefit related to tax basis adjustment									$ 440,000,000
Cash dividends declared, per share	$ 1.71	$ 1.42	$ 1.09	$ 3.13		$ 2.84		$ 2.51		$ 2.18		$ 5.97	$ 4.69	$ 3.82
Pension Plans [Member]
Schedule of Quarterly Financial Information [Line Items]
Defined Benefit Plan, Net Periodic Benefit Cost (Credit), Gain (Loss) Due to Settlement and Curtailment												$ (1,000,000)	$ (40,000,000)	$ (290,000,000)
B747 aircraft [Member]
Schedule of Quarterly Financial Information [Line Items]
Reach-forward loss on commercial aircraft										$ (1,188,000,000)	$ (70,000,000)
KC-46A Tanker [Member]
Schedule of Quarterly Financial Information [Line Items]
Increase/(Decrease) in Earnings from operations due to change in accounting estimate.					$ (329,000,000)		$ (142,000,000)	$ (312,000,000)		$ (573,000,000)	$ (243,000,000)	$ (471,000,000)	$ (1,128,000,000)	$ (835,000,000)
Commercial Crew [Member]
Schedule of Quarterly Financial Information [Line Items]
Increase/(Decrease) in Earnings from operations due to change in accounting estimate.									162,000,000
Tax Year 2011-2012 [Member]
Schedule of Quarterly Financial Information [Line Items]
Tax benefit related to settlement of federal tax audit									$ 177,000,000

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Quarterly Financial Data (Schedule Of Quarterly Financial Data) (Details) - USD ($) $ / shares in Units, $ in Millions	1 Months Ended			3 Months Ended								12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Schedule of Quarterly Financial Information [Line Items]
Total revenues				$ 25,368	$ 24,309	$ 22,739	$ 20,976	$ 23,286	$ 23,898	$ 24,755	$ 22,632	$ 93,392	$ 94,571	$ 96,114
Total costs and expenses				(20,427)	(19,987)	(18,388)	(17,264)	(19,464)	(19,904)	(22,325)	(19,097)	(76,066)	(80,790)	(82,088)
Earnings from operations				3,030	2,689	2,535	2,024	2,183	2,282	(419)	1,788	10,278	5,834	7,443
Net earnings				$ 3,132	$ 1,853	$ 1,761	$ 1,451	$ 1,631	$ 2,279	$ (234)	$ 1,219	$ 8,197	$ 4,895	$ 5,176
Basic earnings per share				$ 5.25	$ 3.10	$ 2.93	$ 2.36	$ 2.63	$ 3.64	$ (0.37)	$ 1.85	$ 13.60	$ 7.70	$ 7.52
Diluted earnings/(loss) per share				5.18	3.06	2.89	2.34	2.59	3.60	(0.37)	1.83	13.43	7.61	7.44
Cash dividends declared, per share	$ 1.71	$ 1.42	$ 1.09	3.13		2.84		2.51		2.18		5.97	4.69	$ 3.82
Common stock sales price per share, Quarter end	$ 294.91	$ 155.68		294.91	254.21	197.75	176.86	155.68	131.74	129.87	126.94	$ 294.91	$ 155.68
Maximum [Member]
Schedule of Quarterly Financial Information [Line Items]
Common stock sales price per share				299.33	259.30	204.39	185.71	160.07	139.45	137.89	141.70
Minimum [Member]
Schedule of Quarterly Financial Information [Line Items]
Common stock sales price per share				$ 253.53	$ 197.75	$ 175.47	$ 155.21	$ 130.74	$ 123.96	$ 122.35	$ 102.10