10-Q

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 10-Q

(Mark One)

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

For the quarterly period ended September 30, 2019

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)

(312) 544-2000

(Registrant’s telephone number, including area code)

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 ☒ No ☐

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted 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 such files). Yes ☒ No ☐

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a 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. (Check one):

Large Accelerated Filer	☒	Accelerated filer	☐
Non-accelerated filer	☐	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 ☒

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

Title of each class	Trading Symbol(s)	Name of each exchange on which registered
Common Stock, $5.00 Par Value	BA	New York Stock Exchange

As of October 16, 2019, there were 562,791,233 shares of common stock, $5.00 par value, issued and outstanding.

THE BOEING COMPANY

FORM 10-Q

For the Quarter Ended September 30, 2019

INDEX

Part I. Financial Information (Unaudited)		Page
Item 1.	Financial Statements	1
	Condensed Consolidated Statements of Operations	1
	Condensed Consolidated Statements of Comprehensive Income	2
	Condensed Consolidated Statements of Financial Position	3
	Condensed Consolidated Statements of Cash Flows	4
	Condensed Consolidated Statements of Equity	5
	Summary of Business Segment Data	7
	Note 1 - Basis of Presentation	8
	Note 2 - Acquisitions and Joint Ventures	9
	Note 3 - Earnings Per Share	9
	Note 4 - Income Taxes	10
	Note 5 - Inventories	11
	Note 6 - Contracts with Customers	11
	Note 7 - Customer Financing	12
	Note 8 - Investments	14
	Note 9 - Other Assets	14
	Note 10 - Leases	15
	Note 11 - Commitments & Contingencies	16
	Note 12 - Arrangements with Off-Balance Sheet Risk	20
	Note 13 - Debt	21
	Note 14 - Postretirement Plans	22
	Note 15 - Share-Based Compensation and Other Comprehensive Arrangements	23
	Note 16 - Shareholders' Equity	24
	Note 17 - Derivative Financial Instruments	25
	Note 18 - Fair Value Measurements	27
	Note 19 - Legal Proceedings	29
	Note 20 - Segment and Revenue Information	29
	Report of Independent Registered Public Accounting Firm	34
Forward-Looking Statements		35
Item 2.	Management’s Discussion and Analysis of Financial Condition and Results of Operations	37
	Consolidated Results of Operations and Financial Condition	37
	Commercial Airplanes	42
	Defense, Space & Security	45
	Global Services	49
	Boeing Capital	49
	Liquidity and Capital Resources	50
	Off-Balance Sheet Arrangements	52
	Contingent Obligations	52
	Non-GAAP Measures	53
	Critical Accounting Policies and Estimates	54
Item 3.	Quantitative and Qualitative Disclosures About Market Risk	55
Item 4.	Controls and Procedures	55
Part II. Other Information
Item 1.	Legal Proceedings	56
Item 1A.	Risk Factors	56
Item 2.	Unregistered Sales of Equity Securities and Use of Proceeds	57
Item 3.	Defaults Upon Senior Securities	57
Item 4.	Mine Safety Disclosures	57
Item 5.	Other Information	57
Item 6.	Exhibits	58
Signature		59

Part I. Financial Information

Item 1. Financial Statements

The Boeing Company and Subsidiaries

Condensed Consolidated Statements of Operations

(Unaudited)

(Dollars in millions, except per share data)	Nine months ended September 30						Three months ended September 30
	2019			2018			2019			2018
Sales of products		$50,514			$64,848			$17,195			$22,463
Sales of services	8,134			7,938			2,785			2,683
Total revenues	58,648			72,786			19,980			25,146
Cost of products	(46,584		)	(53,134		)	(14,674		)	(18,882		)
Cost of services	(6,752		)	(6,215		)	(2,241		)	(2,140		)
Boeing Capital interest expense	(49		)	(51		)	(15		)	(18		)
Total costs and expenses	(53,385		)	(59,400		)	(16,930		)	(21,040		)
	5,263			13,386			3,050			4,106
(Loss)/income from operating investments, net	(3		)	112			(8		)	32
General and administrative expense	(2,857		)	(3,345		)	(1,001		)	(1,154		)
Research and development expense, net	(2,470		)	(2,417		)	(778		)	(826		)
Gain/(loss) on dispositions, net	296			76			(4		)	69
Earnings from operations	229			7,812			1,259			2,227
Other income	334			63			121			12
Interest and debt expense	(480		)	(317		)	(203		)	(106		)
Earnings before income taxes	83			7,558			1,177			2,133
Income tax benefit/(expense)	291			(522		)	(10		)	230
Net earnings		$374			$7,036			$1,167			$2,363
Basic earnings per share		$0.66			$12.08			$2.07			$4.11
Diluted earnings per share		$0.66			$11.95			$2.05			$4.07
Weighted average diluted shares (millions)	570.4			588.9			569.2			580.8

See Notes to the Condensed Consolidated Financial Statements.

1

The Boeing Company and Subsidiaries

Condensed Consolidated Statements of Comprehensive Income

(Unaudited)

(Dollars in millions)	Nine months ended September 30						Three months ended September 30
	2019			2018			2019			2018
Net earnings		$374			$7,036			$1,167			$2,363
Other comprehensive income/(loss), net of tax:
Currency translation adjustments	(61		)	(55		)	(59		)	2
Unrealized gain on certain investments, net of tax of $0, ($1), $0 and $0	1			3
Unrealized (loss)/gain on derivative instruments:
Unrealized loss arising during period, net of tax of $30, $27, $25 and $1	(106		)	(97		)	(89		)	(4		)
Reclassification adjustment for (gains)/losses included in net earnings, net of tax of ($6), ($5), ($7) and ($3)	22			19			25			9
Total unrealized (loss)/gain on derivative instruments, net of tax	(84		)	(78		)	(64		)	5
Defined benefit pension plans and other postretirement benefits:
Amortization of prior service credits included in net periodic pension cost, net of tax of $18, $30, $5 and $10	(67		)	(106		)	(22		)	(35		)
Net actuarial gain arising during the period, net of tax of $0, $0, $0 and $0				1
Amortization of actuarial losses included in net periodic pension cost, net of tax of ($97), ($182), ($32) and ($60)	350			657			117			219
Settlements and curtailments included in net income, net of tax of $0, ($3), $0 and $0				6
Pension and postretirement cost related to our equity method investments, net of tax of ($5), $1, ($3) and $0	17			(4		)	9			(1		)
Total defined benefit pension plans and other postretirement benefits, net of tax	300			554			104			183
Other comprehensive income/(loss), net of tax	156			424			(19		)	190
Comprehensive loss related to noncontrolling interests	(22		)	(12		)	(15		)	(2		)
Comprehensive income, net of tax		$508			$7,448			$1,133			$2,551

See Notes to the Condensed Consolidated Financial Statements.

2

The Boeing Company and Subsidiaries

Condensed Consolidated Statements of Financial Position

(Unaudited)

(Dollars in millions, except per share data)	September 30 2019			December 31 2018
Assets
Cash and cash equivalents		$9,763			$7,637
Short-term and other investments	1,150			927
Accounts receivable, net	3,564			3,879
Unbilled receivables, net	11,078			10,025
Current portion of customer financing, net	166			460
Inventories	73,279			62,567
Other current assets	2,656			2,335
Total current assets	101,656			87,830
Customer financing, net	2,077			2,418
Property, plant and equipment, net of accumulated depreciation of $19,125 and $18,568	12,527			12,645
Goodwill	8,063			7,840
Acquired intangible assets, net	3,587			3,429
Deferred income taxes	296			284
Investments	1,117			1,087
Other assets, net of accumulated amortization of $561 and $503	3,275			1,826
Total assets		$132,598			$117,359
Liabilities and equity
Accounts payable		$15,101			$12,916
Accrued liabilities	19,224			14,808
Advances and progress billings	53,167			50,676
Short-term debt and current portion of long-term debt	4,354			3,190
Total current liabilities	91,846			81,590
Deferred income taxes	1,615			1,736
Accrued retiree health care	4,437			4,584
Accrued pension plan liability, net	14,590			15,323
Other long-term liabilities	3,621			3,059
Long-term debt	20,298			10,657
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	6,688			6,768
Treasury stock, at cost - 449,472,403 and 444,619,970 shares	(54,924		)	(52,348		)
Retained earnings	53,986			55,941
Accumulated other comprehensive loss	(14,927		)	(15,083		)
Total shareholders’ equity	(4,116		)	339
Noncontrolling interests	307			71
Total equity	(3,809		)	410
Total liabilities and equity		$132,598			$117,359

See Notes to the Condensed Consolidated Financial Statements.

3

The Boeing Company and Subsidiaries

Condensed Consolidated Statements of Cash Flows

(Unaudited)

(Dollars in millions)	Nine months ended September 30
	2019			2018
Cash flows – operating activities:
Net earnings		$374			$7,036
Adjustments to reconcile net earnings to net cash provided by operating activities:
Non-cash items –
Share-based plans expense	160			150
Depreciation and amortization	1,643			1,531
Investment/asset impairment charges, net	106			63
Customer financing valuation adjustments	249			(3		)
Gain on dispositions, net	(296		)	(76		)
Other charges and credits, net	190			158
Changes in assets and liabilities –
Accounts receivable	315			10
Unbilled receivables	(1,053		)	(1,732		)
Advances and progress billings	2,355			3,457
Inventories	(9,565		)	(173		)
Other current assets	(224		)	(5		)
Accounts payable	1,626			1,181
Accrued liabilities	5,495			890
Income taxes receivable, payable and deferred	(989		)	(252		)
Other long-term liabilities	(577		)	1
Pension and other postretirement plans	(570		)	(89		)
Customer financing, net	391			(175		)
Other	144			403
Net cash (used)/provided by operating activities	(226		)	12,375
Cash flows – investing activities:
Property, plant and equipment additions	(1,387		)	(1,227		)
Property, plant and equipment reductions	334			117
Acquisitions, net of cash acquired	(492		)	(250		)
Contributions to investments	(1,439		)	(2,145		)
Proceeds from investments	967			1,369
Purchase of distribution rights	(20		)	(56		)
Other	(10		)	(5		)
Net cash used by investing activities	(2,047		)	(2,197		)
Cash flows – financing activities:
New borrowings	19,621			4,696
Debt repayments	(8,978		)	(4,029		)
Contributions from noncontrolling interests	7			35
Stock options exercised	51			70
Employee taxes on certain share-based payment arrangements	(241		)	(247		)
Common shares repurchased	(2,651		)	(8,415		)
Dividends paid	(3,473		)	(2,976		)
Net cash provided/(used) by financing activities	4,336			(10,866		)
Effect of exchange rate changes on cash and cash equivalents, including restricted	(27		)	(37		)
Net increase/(decrease) in cash & cash equivalents, including restricted	2,036			(725		)
Cash & cash equivalents, including restricted, at beginning of year	7,813			8,887
Cash & cash equivalents, including restricted, at end of period	9,849			8,162
Less restricted cash & cash equivalents, included in Investments	86			128
Cash and cash equivalents at end of period		$9,763			$8,034

See Notes to the Condensed Consolidated Financial Statements.

4

The Boeing Company and Subsidiaries

Condensed Consolidated Statements of Equity

For the nine months ended September 30, 2019 and 2018

(Unaudited)

	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 Interests			Total
Balance at January 1, 2018		$5,061		$6,804			($43,454	)		$49,618			($16,373	)		$57			$1,713
Net earnings									7,036						(12		)	7,024
Other comprehensive income, net of tax of ($133)												424						424
Share-based compensation and related dividend equivalents			167						(17		)							150
Treasury shares issued for stock options exercised, net			(37		)	107												70
Treasury shares issued for other share-based plans, net			(220		)	(19		)										(239		)
Common shares repurchased						(8,415		)										(8,415		)
Cash dividends declared ($3.42 per share)									(1,971		)							(1,971		)
Changes in noncontrolling interests															35			35
Balance at September 30, 2018		$5,061		$6,714			($51,781	)		$54,666			($15,949	)		$80			($1,209	)
Balance at January 1, 2019		$5,061		$6,768			($52,348	)		$55,941			($15,083	)		$71			$410
Net earnings									374						(22		)	352
Other comprehensive income, net of tax of ($60)												156						156
Share-based compensation and related dividend equivalents			176						(16		)							160
Treasury shares issued for stock options exercised, net			(42		)	82												40
Treasury shares issued for other share-based plans, net			(214		)	(7		)										(221		)
Common shares repurchased						(2,651		)										(2,651		)
Cash dividends declared ($4.11 per share)									(2,313		)							(2,313		)
Changes in noncontrolling interests															258			258
Balance at September 30, 2019		$5,061		$6,688			($54,924	)		$53,986			($14,927	)		$307			($3,809	)

See Notes to the Condensed Consolidated Financial Statements.

5

The Boeing Company and Subsidiaries

Condensed Consolidated Statements of Equity

For the three months ended September 30, 2019 and 2018

(Unaudited)

	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 Interests			Total
Balance at July 1, 2018		$5,061		$6,676			($49,342	)		$52,303		($16,139	)		$67			($1,374	)
Net earnings									2,363					(2		)	2,361
Other comprehensive income, net of tax of ($52)											190						190
Share-based compensation and related dividend equivalents			52														52
Treasury shares issued for stock options exercised, net			(5		)	12											7
Treasury shares issued for other share-based plans, net			(9		)	(1		)									(10		)
Common shares repurchased						(2,450		)									(2,450		)
Changes in noncontrolling interests														15			15
Balance at September 30, 2018		$5,061		$6,714			($51,781	)		$54,666		($15,949	)		$80			($1,209	)
Balance at July 1, 2019		$5,061		$6,638			($54,932	)		$52,819		($14,908	)		$379			($4,943	)
Net earnings									1,167					(15		)	1,152
Other comprehensive (loss)/income, net of tax of ($12)											(19		)				(19		)
Share-based compensation and related dividend equivalents			56														56
Treasury shares issued for stock options exercised, net			(3		)												(3		)
Treasury shares issued for other share-based plans, net			(3		)	8											5
Changes in noncontrolling interests														(57		)	(57		)
Balance at September 30, 2019		$5,061		$6,688			($54,924	)		$53,986		($14,927	)		$307			($3,809	)

See Notes to the Condensed -Consolidated Financial Statements.

6

The Boeing Company and Subsidiaries

Notes to Condensed Consolidated Financial Statements

Summary of Business Segment Data

(Unaudited)

(Dollars in millions)	Nine months ended September 30						Three months ended September 30
	2019			2018			2019			2018
Revenues:
Commercial Airplanes		$24,793			$40,968			$8,249			$14,071
Defense, Space & Security	20,265			19,518			7,042			6,937
Global Services	13,820			12,148			4,658			4,101
Boeing Capital	207			214			66			77
Unallocated items, eliminations and other	(437		)	(62		)	(35		)	(40		)
Total revenues		$58,648			$72,786			$19,980			$25,146
(Loss)/earnings from operations:
Commercial Airplanes		($3,813	)		$5,230			($40	)		$2,033
Defense, Space & Security	2,577			886			755			(247		)
Global Services	2,013			1,799			673			548
Boeing Capital	86			71			29			27
Segment operating profit	863			7,986			1,417			2,361
Unallocated items, eliminations and other	(1,727		)	(1,193		)	(522		)	(471		)
FAS/CAS service cost adjustment	1,093			1,019			364			337
Earnings from operations	229			7,812			1,259			2,227
Other income	334			63			121			12
Interest and debt expense	(480		)	(317		)	(203		)	(106		)
Earnings before income taxes	83			7,558			1,177			2,133
Income tax benefit/(expense)	291			(522		)	(10		)	230
Net earnings		$374			$7,036			$1,167			$2,363

This information is an integral part of the Notes to the Condensed Consolidated Financial Statements. See Note 20 for further segment results.

7

The Boeing Company and Subsidiaries

Notes to the Condensed Consolidated Financial Statements

(Dollars in millions, except per share data)

(Unaudited)

Note 1 – Basis of Presentation

The condensed consolidated interim 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”). In the opinion of management, all adjustments (consisting of normal recurring accruals) necessary for a fair presentation are reflected in the interim financial statements. The results of operations for the period ended September 30, 2019 are not necessarily indicative of the operating results for the full year. The interim financial statements should be read in conjunction with the audited Consolidated Financial Statements, including the notes thereto, included in our 2018 Annual Report on Form 10-K. Certain amounts in prior periods have been adjusted to conform with the current year presentation.

Standards Issued and Implemented

In the first quarter of 2019, we adopted Accounting Standards Update (ASU) 2016-02, Leases (Topic 842) and recognized on our Condensed Consolidated Statement of Financial Position $1,064 of lease liabilities with corresponding right-of-use assets for operating leases. Our accounting for finance leases and lessor contracts remains substantially unchanged. The standard has no impact to cash provided or used by operating, investing, or financing activities on our Condensed Consolidated Statements of Cash Flows. As permitted under the standard, we elected prospective application of the new guidance and prior periods continue to be presented in accordance with Topic 840. Refer to our 2018 Annual Report on Form 10-K for disclosures required by Topic 840. We also elected the package of practical expedients, which among other things, does not require reassessment of lease classification.

In the first quarter of 2019, we adopted ASU 2017-12, Derivatives and Hedging (Topic 815), using the modified retrospective method. The standard refines and simplifies hedge accounting requirements for both financial and commodity risks. The impact of the adoption was not material. See Note 17 for additional disclosures.

Significant Accounting Policies - Update

Our significant accounting policies are described in "Note 1: Summary of Significant Accounting Policies" of our Annual Report on Form 10-K for the year ended December 31, 2018. Our updated significant accounting policies described below reflect the impact of adopting Topic 842.

Leases We determine if an arrangement is, or contains, a lease at the inception date. Operating leases are included in Other assets, with the related liabilities included in Accrued liabilities and Other long-term liabilities. Assets under finance leases are included in Property, plant and equipment, net, with the related liabilities included in Short-term debt and current portion of long-term debt and Long-term debt on the Condensed Consolidated Statements of Financial Position.

Operating lease assets represent our right to use an underlying asset for the lease term and lease liabilities represent our obligation to make lease payments arising from the lease. Operating lease assets and liabilities are recognized at the lease commencement date based on the estimated present value of lease payments over the lease term. We use our estimated incremental borrowing rate in determining the present value of lease payments. Variable components of the lease payments such as fair market value adjustments, utilities, and maintenance costs are expensed as incurred and not included in determining the present value. Our lease terms include options to extend or terminate the lease when it is reasonably certain that we will exercise that option. Lease expense is recognized on a straight-line basis over the lease term.

We have lease agreements with lease and non-lease components which are accounted for as a single lease component.

8

Use of Estimates

The preparation of financial statements in conformity with U.S. generally accepted accounting principles (GAAP) requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.

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 long-term contract’s percentage-of-completion. When the current estimates of total sales and costs for a long-term contract indicate a loss, a provision for the entire reach-forward loss on the long-term contract is recognized.

Net cumulative catch-up adjustments to prior years' revenue and earnings, including certain reach-forward losses, across all long-term contracts were as follows:

(In millions - except per share amounts)	Nine months ended September 30					Three months ended September 30
	2019		2018			2019			2018
Increase/(decrease) to Revenue		$166		($14	)		($63	)		($59	)
Increase/(decrease) to Earnings from Operations		$152		($314	)		($23	)		($155	)
Increase/(decrease) to Diluted EPS		$1.20		($0.50	)		($0.04	)		($0.30	)

Note 2 – Acquisitions and Joint Ventures

Strategic Partnership with Embraer

During the first quarter of 2019, we entered into definitive transaction documents with respect to a strategic partnership with Embraer S.A. (Embraer). The partnership contemplates that the parties enter into a joint venture comprising the commercial aircraft and services operations of Embraer, in which Boeing will acquire an 80 percent ownership stake for $4,200, as well as a joint venture to promote and develop new markets for the multi-mission medium airlift KC-390, in which Boeing will hold a 49 percent ownership stake. Embraer shareholders approved the transaction, which remains subject to regulatory approvals and other customary closing conditions. We are actively engaged with authorities in relevant jurisdictions and have obtained a number of regulatory approvals, including clearance to close in the United States. In October 2019, the European Commission commenced a Phase II investigation in connection with its regulatory review of the transaction, and the transaction is now expected to close in early 2020. If the transaction is not completed due to failure to obtain antitrust approvals, we would be required to pay a termination fee of $100.

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.

9

The elements used in the computation of basic and diluted earnings per share were as follows:

(In millions - except per share amounts)	Nine months ended September 30				Three months ended September 30
	2019		2018		2019		2018
Net earnings		$374		$7,036		$1,167		$2,363
Less: earnings available to participating securities			5		1		2
Net earnings available to common shareholders		$374		$7,031		$1,166		$2,361
Basic
Basic weighted average shares outstanding	566.2		582.7		565.2		574.8
Less: participating securities	0.6		0.7		0.6		0.6
Basic weighted average common shares outstanding	565.6		582.0		564.6		574.2
Diluted
Basic weighted average shares outstanding	566.2		582.7		565.2		574.8
Dilutive potential common shares(1)	4.2		6.2		4.0		6.0
Diluted weighted average shares outstanding	570.4		588.9		569.2		580.8
Less: participating securities	0.6		0.7		0.6		0.6
Diluted weighted average common shares outstanding	569.8		588.2		568.6		580.2
Net earnings per share:
Basic		$0.66		$12.08		$2.07		$4.11
Diluted	0.66		11.95		2.05		4.07

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

(Shares in millions)	Nine months ended September 30		Three months ended September 30
	2019	2018	2019	2018
Performance awards	2.6	2.6	2.6	2.2
Performance-based restricted stock units	0.6	0.3	0.6	0.2

Note 4 – Income Taxes

Our effective income tax rates were (350.6)% and 0.8% for the nine and three months ended September 30, 2019 and 6.9% and (10.8)% for the same periods in the prior year. The tax rates in 2019 and 2018 reflect the U.S. federal tax rate of 21% reduced by tax benefits associated with intangible income derived from serving non-U.S. markets, research and development tax credits and excess tax benefits related to share-based payments. Additionally, in the third quarter of 2018, $412 of discrete tax benefits were recorded related to the settlement of the 2013-2014 federal tax audit. The year to date tax rate variance is primarily due to lower pre-tax income in 2019, resulting in larger 2019 discrete tax rate benefits.

Federal income tax audits have been settled for all years prior to 2015. The Internal Revenue Service (IRS) began the 2015-2017 federal tax audit in the first quarter of 2019. We are also subject to examination in major state and international jurisdictions for the 2001-2017 tax years. We believe appropriate provisions for all outstanding tax issues have been made for all jurisdictions and all open years.

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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 state matters under audit may decrease by up to $480 based on current estimates.

Note 5 – Inventories

Inventories consisted of the following:

	September 30 2019		December 31 2018
Long-term contracts in progress		$966		$2,129
Commercial aircraft programs	63,518		52,753
Commercial spare parts, used aircraft, general stock materials and other	8,795		7,685
Total		$73,279		$62,567

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 $176 and $227 at September 30, 2019 and December 31, 2018. See indemnifications to ULA in Note 12.

Included in inventories are capitalized precontract costs of $679 at September 30, 2019 primarily related to the KC-46A Tanker and Commercial Crew and $644 at December 31, 2018 primarily related to the KC-46A Tanker. See Note 11.

Commercial Aircraft Programs

At September 30, 2019 and December 31, 2018, commercial aircraft programs inventory included the following amounts related to the 787 program: $26,593 and $27,852 of work in process (including deferred production costs of $19,825 and $22,967), $2,273 and $2,453 of supplier advances, and $2,215 and $2,638 of unamortized tooling and other non-recurring costs. At September 30, 2019, $14,454 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 $7,586 is expected to be recovered from units included in the program accounting quantity that represent expected future orders.

At September 30, 2019 and December 31, 2018, commercial aircraft programs inventory included $1,481 and $463 of deferred production costs and $522 and $471 of unamortized tooling and other non-recurring costs related to the 737 program. At September 30, 2019, $1,999 of 737 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 $4 is expected to be recovered from units included in the program accounting quantity that represent expected future orders.

Commercial aircraft programs inventory included amounts credited in cash or other consideration (early issue sales consideration) to airline customers totaling $2,767 and $2,844 at September 30, 2019 and December 31, 2018.

Note 6 – Contracts with Customers

Unbilled receivables increased from $10,025 at December 31, 2018 to $11,078 at September 30, 2019, primarily driven by revenue recognized at BDS and BGS in excess of billings.

Advances and progress billings increased from $50,676 at December 31, 2018 to $53,167 at September 30, 2019, primarily driven by advances on orders received in excess of revenue recognized at BCA, BDS and BGS.

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Revenues recognized during the nine months ended September 30, 2019 and 2018 from amounts recorded as Advances and progress billings at the beginning of each year were $13,216 and $19,006. Revenues recognized during the three months ended September 30, 2019 and 2018 from amounts recorded as Advances and progress billings at the beginning of each year were $3,100 and $6,249.

Certain commercial airplane customers are experiencing liquidity issues and seeking additional capital. Should these customers fail to address their liquidity issues, accounts receivable, unbilled receivables and certain inventory could become impaired. In addition we would have to remove contracts related to these customers from backlog and remarket any undelivered aircraft.

Note 7 – Customer Financing

Customer financing primarily relates to the Boeing Capital (BCC) segment and consisted of the following:

	September 30 2019			December 31 2018
Financing receivables:
Investment in sales-type/finance leases		$1,016			$1,125
Notes	446			730
Total financing receivables	1,462			1,855
Operating lease equipment, at cost, less accumulated depreciation of $245 and $203	789			782
Operative lease incentive				250
Gross customer financing	2,251			2,887
Less allowance for losses on receivables	(8		)	(9		)
Total		$2,243			$2,878

We acquire aircraft to be leased to customers through trades, lease returns, purchases in the secondary market, and new aircraft transferred from our Commercial Airplanes segment. Leasing arrangements typically range in terms from 1 to 12 years and may include options to extend or terminate the lease. Certain leases include provisions to allow the lessee to purchase the underlying aircraft at a specified price. A minority of leases contain variable lease payments based on actual aircraft usage and are paid in arrears.

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 September 30, 2019 and December 31, 2018, we individually evaluated for impairment customer financing receivables of $401 and $409, of which $388 and $398 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.

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.

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Our financing receivable balances by internal credit rating category are shown below: 

Rating categories	September 30 2019		December 31 2018
BBB		$594		$883
BB	348		430
B	125		135
CCC	395		407
Total carrying value of financing receivables		$1,462		$1,855

At September 30, 2019, our allowance related to receivables with ratings of B, BB and BBB. We applied default rates that averaged 22.1%, 5.8% and 0.6%, respectively, 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 out-of-production aircraft and 747-8 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:

	September 30 2019		December 31 2018
717 Aircraft ($184 and $204 accounted for as operating leases)		$778		$918
747-8 Aircraft ($130 and $132 accounted for as operating leases)	474		477
737 Aircraft ($243 and $263 accounted for as operating leases)	266		290
757 Aircraft ($22 and $24 accounted for as operating leases)	186		200
MD-80 Aircraft (accounted for as sales-type finance leases)	184		204
777 Aircraft ($126 and $60 accounted for as operating leases)	131		68
747-400 Aircraft ($33 and $45 accounted for as operating leases)	95		116

As part of selected lease transactions, Boeing may provide incentives to commercial customers. At December 31, 2018, Customer Financing included $250 of lease incentives with one customer experiencing liquidity issues. In the first quarter of 2019, we concluded that these lease incentives were impaired and recorded a charge of $250.

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Lease income recorded in Revenue on the Condensed Consolidated Statements of Operations for the nine and three months ended September 30, 2019 included $47 and $15 from sales-type/finance leases and $105 and $34 from operating leases, of which $14 and $6 related to variable operating lease payments.

As of September 30, 2019, undiscounted cash flows for sales-type/finance and operating leases over the next five years and thereafter are as follows:

	Sales-type/finance leases			Operating leases
Year 1		$179			$118
Year 2	134			93
Year 3	97			83
Year 4	109			61
Year 5	121			46
Thereafter	140			57
Total lease receipts	780			458
Less imputed interest	(167		)
Estimated unguaranteed residual values	403
Total		$1,016			$458

At September 30, 2019 and December 31, 2018 unguaranteed residual values were $403 and $425. Guaranteed residual values at September 30, 2019 were not significant.

Note 8 – Investments

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

	September 30 2019		December 31 2018
Equity method investments (1)		$1,079		$1,048
Time deposits	529		255
Available for sale debt instruments	530		491
Equity and other investments	43		44
Restricted cash & cash equivalents(2)	86		176
Total		$2,267		$2,014

⁽¹⁾  Dividends received were $153 and $60 for the nine and three months ended September 30, 2019 and $222 and $79 during the same periods in the prior year.

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

Note 9 – Other Assets

Sea Launch

At September 30, 2019 and December 31, 2018, Other assets included $244 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. At September 30, 2019, the net amounts owed to Boeing by each of the partners were as follows: S.P. Koroley Rocket and Space Corporation Energia of Russia (RSC Energia) – $111, PO Yuzhnoye Mashinostroitelny Zavod of Ukraine – $89 and KB Yuzhnoye of Ukraine – $44.

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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.

Note 10 – Leases

Our operating lease assets primarily represent manufacturing and research and development facilities, warehouses, and offices. Our finance leases primarily represent computer equipment and are not significant. Total operating lease expense was $241 and $82 for nine and three months ended September 30, 2019, of which $40 and $15 was attributable to variable lease expenses.

For the nine and three months ended September 30, 2019 cash payments against operating lease liabilities totaled $205 and $70 and non-cash transactions totaled $315 and $177 to recognize operating assets and liabilities for new leases.

Supplemental Condensed Consolidated Statement of Financial Position information related to leases was as follows:

	September 30 2019
Operating leases:
Operating lease right-of-use assets		$1,178
Current portion of lease liabilities	260
Non-current portion of lease liabilities	969
Total operating lease liabilities		$1,229
Weighted average remaining lease term (years)	9
Weighted average discount rate	3.07		%

Maturities of lease liabilities were as follows:

	Operating leases
Year 1		$292
Year 2	238
Year 3	190
Year 4	153
Year 5	93
Thereafter	598
Total lease payments	1,564
Less imputed interest	(335		)
Total		$1,229

As of September 30, 2019, we have entered into an operating lease that has not yet commenced of $160, primarily related to research and development and manufacturing facilities. This lease will commence in 2020 with a lease term of 15 years.

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Note 11 – Commitments and Contingencies

737 MAX Grounding

On March 13, 2019, the Federal Aviation Administration (FAA) issued an order to suspend operations of all 737 MAX aircraft in the U.S. and by U.S. aircraft operators following two fatal 737 MAX accidents. Non-U.S. civil aviation authorities have issued directives to the same effect. We are working closely with the relevant government authorities to support both accident investigations. We are also fully cooperating with other U.S. government investigations related to the accidents. While production continues on the 737 MAX, deliveries have been suspended until clearance is granted by the appropriate regulatory authorities.

We have developed software and training updates for the 737 MAX and continue to work with the FAA and non-U.S. civil aviation authorities to complete remaining steps toward certification and readiness for return to service including addressing their questions on the software changes and how pilots will interact with the airplane controls and displays in different flight scenarios. The FAA and other civil aviation authorities worldwide will determine the timing and conditions of return to service in each relevant jurisdiction. Charges recognized during 2019 associated with the software updates and related pilot training were not material.

Prior to the grounding, Boeing had delivered 387 737 MAX aircraft of which 57 were delivered in the first quarter of 2019. On April 5, 2019, we announced plans to reduce the 737 production rate from 52 aircraft per month to 42 per month effective April 15, 2019. The resulting impacts, which were reflected in the first quarter, increased costs to produce aircraft included in the current accounting quantity by $1,016. Estimated costs to produce aircraft included in the current accounting quantity increased by $1,748 during the second quarter of 2019 and $872 during the third quarter of 2019, primarily to reflect updates to assumptions regarding timing of return to service and timing of planned production rate increases. These increases in the costs to produce aircraft in the current accounting quantity will reduce 737 program and overall BCA segment operating margins in future quarters after deliveries resume. Prior to the grounding, we expected 737 MAX deliveries to approximate 90 percent of total 737 deliveries in 2019 and we had planned to increase the production rate to 57 per month in 2019. In addition to the grounding, the timing of 737 MAX deliveries during the first quarter was adversely affected by delays in the supply chain. We may face additional costs, delays in return to service, and/or further reductions in the production rate. We are continuing to produce at 42 aircraft per month and we will continue to evaluate potential future reductions in the production rate, including a temporary shutdown in 737 production. For example, significant additional regulatory requirements and/or delays in return to service beyond our current assumption could cause customers to cancel or defer orders, which could also cause us to reduce or temporarily cease 737 MAX production. 

The grounding has reduced revenues, operating earnings and cash flows in 2019 and will continue to adversely affect our results until deliveries resume and production rates increase. We are also working with our customers to minimize the impact to their operations. In the second quarter, we recorded an earnings charge of $5,610, net of insurance recoveries of $500, in connection with estimated potential concessions and other considerations to customers for disruptions related to the 737 MAX grounding and associated delivery delays. This charge is reflected in the financial statements as a reduction in revenue, an increase in Other current assets and an increase in Accrued liabilities. During the third quarter of 2019, we collected the anticipated $500 from our insurance carriers and reduced the liability of $6,110 by $252 for payments, concessions and other in-kind considerations agreed to with customers. In addition, we reassessed the liability for estimated potential concessions and other considerations to customers. This reassessment included updating estimates to reflect revised return to service and production rate assumptions, as well as latest information based on engagements with 737 MAX customers. Based on this reassessment, we concluded that no significant adjustments to the recorded liability were required in the third quarter. The liability represents our best estimate of future concessions and other considerations to customers, and is necessarily based on a series of assumptions. While the FAA and other non-U.S. civil aviation authorities will determine the timing and conditions of return to service, we have assumed that regulatory approval of 737 MAX return to service begins in the fourth quarter of 2019. This assumption reflects our best estimate at this time, but actual timing and conditions of return to service could differ from this estimate, the effect of which could be material. In addition, we have assumed that we will gradually increase the 737 production rate from 42 per month to 57 per month by late 2020. Following return to service we expect the 737 MAX

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airplanes produced during the grounding and included within inventory will be delivered over several quarters with the majority of them delivering in the first year. We are unable at this time to reasonably estimate potential future additional financial impacts or a range of loss, if any, due to continued uncertainties related to the timing and conditions of return to service, future changes to the production rate, supply chain impacts or the results of negotiations with particular customers. Any such impacts, including any changes in our estimates, could have a material adverse effect on our financial position, results of operations, and/or cash flows. For example, we expect that, in the event that we are unable to resume aircraft deliveries consistent with our assumptions, the continued absence of revenue, earnings, and cash flows associated with 737 MAX deliveries would continue to have the most material impact on our operating results. In the event that we decide to further reduce the 737 production rate or temporarily cease production, we expect that the growth in inventory and other cash flow impacts associated with production would decrease. However, while any such reduction or cessation of production could mitigate the impact of continued production on our liquidity it could significantly increase the overall expected costs to produce aircraft included in the accounting quantity, which would reduce 737 program margins in the future.

737NG Structure (Pickle Fork)

During the third quarter of 2019, we detected cracks in the "pickle forks," a component of the structure connecting the wings to the fuselages, of three 737-800NGs we were converting into freighters. We notified the FAA, which issued a directive requiring that 737NG airplanes with over 30,000 flight cycles be inspected for this condition by October 10, 2019, and that airplanes with over 22,600 flight cycles be inspected over the next 1,000 flight cycles. To date, all airplanes with over 30,000 flight cycles and approximately one third of planes with over 22,600 flights cycles have been inspected and this condition has been found on a small percentage of aircraft, and those aircraft will be repaired. Additional assessments are underway to determine the cause and potential implications of this condition for airplanes with fewer than 22,600 flight cycles. Depending on the results of these assessments, additional inspections or repairs may be required. Charges recognized in the third quarter in connection with estimated repair costs for aircraft with over 22,600 flight cycles were not material. However, we cannot reasonably estimate potential future financial impacts, if any, due to the ongoing nature of the inspections and repairs and pending the completion of investigations into the cause of the condition.

Environmental

The following table summarizes environmental remediation activity during the nine months ended September 30, 2019 and 2018.

	2019			2018
Beginning balance – January 1		$555			$524
Reductions for payments made	(34		)	(17		)
Changes in estimates	61			61
Ending balance – September 30		$582			$568

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 September 30, 2019 and December 31, 2018, the high end of the estimated range of reasonably possible remediation costs exceeded our recorded liabilities by $1,064 and $796.

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Product Warranties

The following table summarizes product warranty activity recorded during the nine months ended September 30, 2019 and 2018.

	2019			2018
Beginning balance – January 1		$1,127			$1,211
Additions for current year deliveries	128			176
Reductions for payments made	(166		)	(135		)
Changes in estimates	(7		)	(151		)
Ending balance – September 30		$1,082			$1,101

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 September 30, 2019 have expiration dates from 2019 through 2026. At September 30, 2019, and December 31, 2018 total contractual trade-in commitments were $1,421 and $1,519. As of September 30, 2019 and December 31, 2018, we estimated that it was probable we would be obligated to perform on certain of these commitments with net amounts payable to customers totaling $723 and $522 and the fair value of the related trade-in aircraft was $690 and $485.

Financing Commitments

Financing commitments related to aircraft on order, including options and those proposed in sales campaigns, and refinancing of delivered aircraft, totaled $15,607 and $19,462 as of September 30, 2019 and December 31, 2018. The estimated earliest potential funding dates for these commitments as of September 30, 2019 are as follows:

	Total
October through December 2019		$560
2020	3,104
2021	2,989
2022	1,348
2023	2,169
Thereafter	5,437
		$15,607

As of September 30, 2019, $15,452 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.

Funding Commitments

We have commitments to make additional capital contributions of $246 to joint ventures over the next eight years.

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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 $3,598 and $3,761 as of September 30, 2019 and December 31, 2018.

United States Government Defense Environment Overview

The Bipartisan Budget Act (BBA) of 2019 raised the Budget Control Act limits on federal discretionary defense and non-defense spending for fiscal years 2020 and 2021 (FY20 and FY21), reducing budget uncertainty and the risk of sequestration. Although overall funding levels have been agreed to, the timeliness of FY20 funding for government departments and agencies, including the Department of Defense (DoD), the National Aeronautics and Space Administration (NASA) and the Federal Aviation Administration (FAA), remains a risk. The Continuing Resolution (CR), enacted on September 27, 2019, continues federal funding at FY19 appropriations levels through November 21, 2019. Congress and the President must enact either full-year FY20 appropriations bills or an additional CR to fund government departments and agencies beyond November 21, 2019 in order to prevent a future government shutdown.

A government shutdown may impact the Company's operations. 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. Congress may fund FY20 by passing one or more CRs; however, this could restrict the execution of certain program activities and delay new programs or competitions.

There continues to be uncertainty with respect to future program-level appropriations for the U.S. DoD and other government agencies, including NASA. 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 our results of 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, USAF KC-46A Tanker, T-7A Red Hawk (formerly T-X Trainer), VC-25B Presidential Aircraft, MQ-25, 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, we have recorded reach-forward losses on the KC-46A Tanker and we continue to have risk for further losses if we experience further production, technical or quality issues. In addition, in 2018, in connection with winning the T-7A Red Hawk and MQ-25 competitions, we recorded a loss of $400 associated with options for 346 T-7A Red Hawk aircraft and a loss of $291 related to the MQ-25 Engineering, Manufacturing and Development (EMD) contract. Moreover, our fixed-price development programs remain subject to additional reach-forward losses if we experience further technical or quality issues, schedule delays, or increased costs. 

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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 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. On September 10, 2018, the USAF authorized an additional 18 aircraft valued at $2.9 billion. On September 27, 2019, the USAF authorized an additional LRIP lot for 15 aircraft valued at $2.6 billion.

At September 30, 2019, we had approximately $304 of capitalized precontract costs and $150 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.

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
	September 30 2019		December 31 2018		September 30 2019		December 31 2018		September 30 2019	December 31 2018
Contingent repurchase commitments		$1,599		$1,685		$1,599		$1,685
Indemnifications to ULA:
Contributed Delta program launch inventory	30		52
Other Delta contracts	176		176
Credit guarantees	92		106		33		51		16	16

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. See Note 5. ULA has yet to consume $30 of contributed inventory.

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.

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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, through its subsidiary United Launch Services, 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. The parties have since agreed to engage in alternative dispute resolution, and the court has stayed the litigation pending that process. 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.

Note 13 – Debt

In the first quarter of 2019, we issued $1,500 of fixed rate senior notes consisting of $400 due March 1, 2024 that bear an annual interest rate of 2.8%, $400 due March 1, 2029 that bear an annual interest rate of 3.2%, $400 due March 1, 2039 that bear an annual interest rate of 3.5%, and $300 due March 1, 2059 that bear an annual interest rate of 3.825%. 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 $1,451, after deducting underwriting discounts, commissions and offering expenses.

In the second quarter of 2019, we issued $3,500 of fixed rate senior notes consisting of $600 due May 1, 2022 that bear an annual interest rate of 2.7%, $650 due May 1, 2026 that bear an annual interest rate of 3.1%, $600 due March 1, 2029 that bear an annual interest rate of 3.2%, $850 due May 1, 2034 that bear an annual interest rate of 3.6%, and $800 due May 1, 2049 that bear an annual interest rate of 3.9%. 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 $3,454, after deducting underwriting discounts, commissions and offering expenses.

In the second quarter of 2019, we entered into a $1,500 short-term credit agreement, which is scheduled to terminate on October 30, 2019. At September 30, 2019, we had $6,620 of unused borrowing capacity on revolving credit line agreements.

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In the third quarter of 2019, we issued $5,500 of fixed rate senior notes consisting of $750 due August 1, 2021 that bear an annual interest rate of 2.3%, $1,000 due February 1, 2027 that bear an annual interest rate of 2.7%, $750 due February 1, 2030 that bear an annual interest rate of 2.95%, $750 due February 1, 2035 that bear an annual interest rate of 3.25%, $1,250 due February 1, 2050 that bear an annual interest rate of 3.75%, and $1,000 due August 1, 2059 that bear an annual interest rate of 3.95%. 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 $5,442, after deducting underwriting discounts, commissions and offering expenses.

Note 14 – Postretirement Plans

The components of net periodic benefit (income)/cost were as follows:

	Nine months ended September 30						Three months ended September 30
Pension Plans	2019			2018			2019			2018
Service cost		$2			$322						$107
Interest cost	2,193			2,086				$731		696
Expected return on plan assets	(2,896		)	(3,007		)	(966		)	(1,002		)
Amortization of prior service credits	(59		)	(42		)	(19		)	(14		)
Recognized net actuarial loss	482			847			161			282
Settlement/curtailment/other losses				43
Net periodic benefit (income)/cost		($278	)		$249			($93	)		$69
Net periodic benefit cost included in Earnings from operations		$234			$237			$76			$79
Net periodic benefit income included in Other income	(280		)	(98		)	(93		)	(50		)
Net periodic benefit (income)/cost included in Earnings before income taxes		($46	)		$139			($17	)		$29

	Nine months ended September 30						Three months ended September 30
Other Postretirement Plans	2019			2018			2019			2018
Service cost		$58			$71			$19			$24
Interest cost	147			145			49			48
Expected return on plan assets	(6		)	(6		)	(2		)	(2		)
Amortization of prior service credits	(26		)	(94		)	(8		)	(31		)
Recognized net actuarial gain	(35		)	(8		)	(12		)	(3		)
Net periodic benefit cost		$138			$108			$46			$36
Net periodic benefit cost included in Earnings from operations		$66			$63			$21			$21
Net periodic benefit cost included in Other income	80			77			27			29
Net periodic benefit cost included in Earnings before income taxes		$146			$140			$48			$50

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Note 15 – Share-Based Compensation and Other Compensation Arrangements

Restricted Stock Units

On February 25, 2019, we granted to our executives 233,582 restricted stock units (RSUs) as part of our long-term incentive program with a grant date fair value of $428.22 per unit. 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.

Performance-Based Restricted Stock Units

On February 25, 2019, we granted to our executives 214,651 performance-based restricted stock units (PBRSUs) as part of our long-term incentive program with a grant date fair value of $466.04 per unit. Compensation expense for the award is recognized over the three-year performance period based upon the grant date fair value estimated using a Monte-Carlo simulation model. The model used the following assumptions: expected volatility of 23.88% based upon historical stock volatility, a risk-free interest rate of 2.46%, and no expected dividend yield because the units earn dividend equivalents.

Performance Awards

On February 25, 2019, we granted to our executives performance awards as part of our long-term incentive program with a payout based on the achievement of financial goals for the three-year period ending December 31, 2021. At September 30, 2019, the minimum payout amount is $0 and the maximum amount we could be required to pay out is $393.

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Note 16 – Shareholders' Equity

Accumulated Other Comprehensive Loss

Changes in Accumulated other comprehensive loss (AOCI) by component for the nine and three months ended September 30, 2019 and 2018 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, 2018		($15	)		($2	)		$54			($16,410	)			($16,373	)
Other comprehensive (loss)/income before reclassifications	(55		)	3			(97		)	(3		)		(152		)
Amounts reclassified from AOCI							19			557			(2)	576
Net current period Other comprehensive (loss)/income	(55		)	3			(78		)	554				424
Balance at September 30, 2018		($70	)		$1			($24	)		($15,856	)			($15,949	)
Balance at January 1, 2019		($101	)					($62	)		($14,920	)			($15,083	)
Other comprehensive (loss)/income before reclassifications	(61		)	1			(106		)	17				(149		)
Amounts reclassified from AOCI							22			283			(2)	305
Net current period Other comprehensive (loss)/income	(61		)	1			(84		)	300				156
Balance at September 30, 2019		($162	)		$1			($146	)		($14,620	)			($14,927	)
Balance at June 30, 2018		($72	)	$1				($29	)		($16,039	)			($16,139	)
Other comprehensive (loss)/income before reclassifications	2						(4		)	(1		)		(3		)
Amounts reclassified from AOCI							9			184			(2)	193
Net current period Other comprehensive (loss)/income	2						5			183				190
Balance at September 30, 2018		($70	)		$1			($24	)		($15,856	)			($15,949	)
Balance at June 30, 2019		($103	)		$1			($82	)		($14,724	)			($14,908	)
Other comprehensive (loss)/income before reclassifications	(59		)				(89		)	9				(139		)
Amounts reclassified from AOCI							25			95			(2)	120
Net current period Other comprehensive (loss)/income	(59		)				(64		)	104				(19		)
Balance at September 30, 2019		($162	)		$1			($146	)		($14,620	)			($14,927	)

⁽¹⁾     Net of tax.

⁽²⁾    Primarily relates to amortization of actuarial losses for the nine and three months ended September 30, 2018 totaling $657 and $219 (net of tax of ($182) and ($60)) and for the nine and three months ended September 30, 2019 totaling $350 and $117 (net of tax of ($97) and ($32)). These are included in the net periodic pension cost.

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Note 17 – Derivative Financial Instruments

Disclosures reflect the adoption of ASU 2017-12, Derivatives and Hedging (Topic 815), in the first quarter of 2019. Prior period amounts have not been restated.

Cash Flow Hedges

Our cash flow hedges include foreign currency forward contracts, commodity swaps 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 2025. We use commodity derivatives, such as fixed-price purchase commitments and swaps to hedge against potentially unfavorable price changes for items used in production. Our commodity contracts hedge forecasted transactions through 2023.

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 Condensed Consolidated Statements of Financial Position were as follows:

	Notional amounts (1)				Other assets						Accrued liabilities
	September 30 2019		December 31 2018		September 30 2019			December 31 2018			September 30 2019			December 31 2018
Derivatives designated as hedging instruments:
Foreign exchange contracts		$2,733		$3,407		$17			$32			($105	)		($132	)
Interest rate contracts	125		125
Commodity contracts	669		57		4			9			(93		)	(2		)
Derivatives not receiving hedge accounting treatment:
Foreign exchange contracts	824		414		6			11			(18		)	(2		)
Commodity contracts	1,713		478
Total derivatives		$6,064		$4,481		$27			$52			($216	)		($136	)
Netting arrangements					(20		)	(24		)	20			24
Net recorded balance						$7			$28			($196	)		($112	)

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

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Gains/(losses) associated with our hedging transactions and forward points recognized in Other comprehensive income are presented in the following table: 

	Nine months ended September 30						Three months ended September 30
	2019			2018			2019			2018
Recognized in Other comprehensive income, net of taxes:
Foreign exchange contracts		($6	)		($80	)		($34	)		$4
Commodity contracts	(78		)	2			(30		)	1

Gains/(losses) associated with our hedging transactions and forward points reclassified from AOCI to earnings are presented in the following table:

	Nine months ended September 30						Three months ended September 30
	2019			2018			2019			2018
Foreign exchange contracts
Revenues								($6	)
Costs and expenses		($21	)		($17	)	(9		)		($9	)
General and administrative	(9		)	(8		)	(18		)	(5		)
Commodity contracts
Revenues
Costs and expenses	1			1						1
General and administrative expense	1						1			1

Gains/(losses) related to undesignated derivatives on foreign exchange cash flow hedging transactions recognized in Other income were gains of $1 and losses of $1 for the nine and three months ended September 30, 2019 and losses of $2 and $1 for the nine and three months ended September 30, 2018. Forward points related to foreign exchange cash flow hedging transactions recognized in Other income were gains of $5 and $0 for the nine and three months ended September 30, 2018.

Based on our portfolio of cash flow hedges, we expect to reclassify losses of $15 (pre-tax) out of Accumulated other comprehensive loss into earnings during the next 12 months.

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 September 30, 2019 was $42. At September 30, 2019, there was no collateral posted related to our derivatives.

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Note 18 – 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.

	September 30, 2019								December 31, 2018
	Total			Level 1		Level 2			Total			Level 1		Level 2
Assets
Money market funds		$1,371			$1,371					$1,737			$1,737
Available-for-sale debt investments:
Commercial paper	146						$146		78						$78
Corporate notes	352					352			420					420
U.S. government agencies	109			109
Other equity investments	10			10					12			12
Derivatives	7					7			28					28
Total assets		$1,995			$1,490		$505			$2,275			$1,749		$526
Liabilities
Derivatives		($196	)				($196	)		($112	)				($112	)
Total liabilities		($196	)				($196	)		($112	)				($112	)

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 nine months ended September 30 due to long-lived asset impairment and the fair value and asset classification of the related assets as of the impairment date:

	2019					2018
	Fair Value		Total Losses			Fair Value		Total Losses
Operating lease equipment		$10		($1	)		$45		($16	)
Investments	51		(84		)			(47		)
Property, plant and equipment	41		(4		)
Acquired intangible assets	3		(17		)
Total		$105		($106	)		$45		($63	)

Investments, Property, plant and equipment and Acquired intangible assets 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

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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 nine months ended September 30, 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	$10	Market approach	Aircraft value publications	$12- $20(1) Median $16
			Aircraft condition adjustments	($6) - $0(2) Net ($6)

⁽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 Condensed Consolidated Statements of Financial Position were as follows:

	September 30, 2019
	Carrying Amount			Total Fair Value			Level 1	Level 2			Level 3
Assets
Notes receivable, net		$446			$451				$451
Liabilities
Debt, excluding capital lease obligations and commercial paper	(21,432		)	(24,518		)		(24,480		)		($38	)

	December 31, 2018
	Carrying Amount			Total Fair Value			Level 1	Level 2			Level 3
Assets
Notes receivable, net		$730			$735				$735
Liabilities
Debt, excluding capital lease obligations and commercial paper	(11,796		)	(12,746		)		(12,682		)		($64	)

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

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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, Unbilled receivables, Accounts payable and long-term payables. The carrying values of those items, as reflected in the Condensed Consolidated Statements of Financial Position, approximate their fair value at September 30, 2019 and December 31, 2018. 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 19 – 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. Where it is reasonably possible that we will incur losses in excess of recorded amounts in connection with any of the matters set forth below, we will disclose either the amount or range of reasonably possible losses in excess of such amounts or, where no such amount or range can be reasonably estimated, the reasons why no such estimate can be made.

Multiple legal actions have been filed against us as a result of the October 29, 2018 accident of Lion Air Flight 610 and the March 10, 2019 accident of Ethiopian Airlines Flight 302. Further, we are fully cooperating with all ongoing governmental and regulatory investigations and inquiries relating to the accidents and the 737 MAX. We cannot reasonably estimate a range of loss, if any, not covered by available insurance that may result given the ongoing status of these lawsuits, investigations, and inquiries.

Note 20 – Segment and Revenue Information

Effective at the beginning of 2019, all revenues and costs associated with military derivative aircraft production are reported in the BDS segment. Revenues and costs associated with military derivative aircraft production were previously reported in the BCA and BDS segments. Business segment data for 2018 reflects the realignment for military derivative aircraft, as well as the realignment of certain programs from BDS to BGS.

Our primary profitability measurements to review a segment’s operating results are Earnings from operations and operating margins. We operate in four reportable segments: BCA, BDS, BGS, and BCC. All other activities fall within Unallocated items, eliminations and other. See page 7 for the Summary of Business Segment Data, which is an integral part of this note.

BCA develops, produces and markets commercial jet aircraft principally to the commercial airline industry worldwide. Revenue on commercial aircraft contracts is recognized at the point in time when an aircraft is completed and accepted by the customer.

BDS engages 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. BDS revenue is generally recognized over the contract term (over time) as costs are incurred.

BGS provides parts, maintenance, modifications, logistics support, training, data analytics and information-based services to commercial and government customers worldwide. BGS segment revenue and costs include certain services provided to other segments. Revenue on commercial spare parts contracts is recognized at the point in time when a spare part is delivered to the customer. Revenue on other contracts is generally recognized over the contract term (over time) as costs are incurred.

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

The following tables present BCA, BDS and BGS revenues from contracts with customers disaggregated in a number of ways, such as geographic location, contract type and the method of revenue recognition. We believe these best depict how the nature, amount, timing and uncertainty of our revenues and cash flows are affected by economic factors.

BCA revenues by customer location consist of the following:

(Dollars in millions)	Nine months ended September 30						Three months ended September 30
	2019			2018			2019			2018
Revenue from contracts with customers:
Europe		$3,944			$7,189			$1,260			$1,882
China	4,393			9,433			1,237			4,677
Asia, other than China	5,832			5,966			1,454			1,886
Middle East	2,926			3,931			1,121			1,598
Other	2,533			3,598			166			1,098
Total non-U.S. revenues	19,628			30,117			5,238			11,141
United States	10,591			10,824			3,004			2,922
Estimated potential concessions and other considerations to 737 MAX customers, net(1)	(5,610		)
Total revenues from contracts with customers	24,609			40,941			8,242			14,063
Intersegment revenues eliminated on consolidation	184			27			7			8
Total segment revenues		$24,793			$40,968			$8,249			$14,071
Revenue recognized on fixed-price contracts	100		%	100		%	100		%	100		%
Revenue recognized at a point in time	100		%	100		%	100		%	99		%

⁽¹⁾  Net of insurance recoveries

BDS revenues on contracts with customers, based on the customer's location, consist of the following:

(Dollars in millions)	Nine months ended September 30						Three months ended September 30
	2019			2018			2019			2018
Revenue from contracts with customers:
U.S. customers		$15,234			$14,586			$5,459			$5,381
Non U.S. customers(1)	5,031			4,932			1,583			1,556
Total segment revenue from contracts with customers		$20,265			$19,518			$7,042			$6,937
Revenue recognized over time	98		%	98		%	97		%	98		%
Revenue recognized on fixed-price contracts	69		%	69		%	70		%	70		%
Revenue from the U.S. government(1)	89		%	88		%	90		%	88		%

⁽¹⁾  Includes revenues earned from foreign military sales through the U.S. government.

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BGS revenues consist of the following:

(Dollars in millions)	Nine months ended September 30						Three months ended September 30
	2019			2018			2019			2018
Revenue from contracts with customers:
Commercial		$7,621			$6,419			$2,510			$2,167
Government	6,075			5,584			2,101			1,882
Total revenues from contracts with customers	13,696			12,003			4,611			4,049
Intersegment revenues eliminated on consolidation	124			145			47			52
Total segment revenues		$13,820			$12,148			$4,658			$4,101
Revenue recognized at a point in time	56		%	52		%	54		%	52		%
Revenue recognized on fixed-price contracts	89		%	88		%	90		%	85		%
Revenue from the U.S. government(1)	33		%	32		%	35		%	32		%

⁽¹⁾  Includes revenues earned from foreign military sales through the U.S. government.

Backlog

Our total backlog represents the estimated transaction prices on performance obligations to our customers for which work remains to be performed. Backlog is converted into revenue in future periods as work is performed, primarily based on the cost incurred or at delivery and acceptance of products, depending on the applicable accounting method.

Our backlog at September 30, 2019 was $470,225. We expect approximately 26% to be converted to revenue through 2020 and approximately 72% through 2023, with the remainder thereafter.

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Unallocated Items, Eliminations and other

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. Such sales include airplanes accounted for as operating leases and considered transferred to the BCC segment. 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.

	Nine months ended September 30						Three months ended September 30
	2019			2018			2019			2018
Share-based plans		($57	)		($60	)		($21	)		($24	)
Deferred compensation	(154		)	(112		)	(25		)	(56		)
Amortization of previously capitalized interest	(68		)	(67		)	(23		)	(19		)
Research and development expense, net	(270		)	(69		)	(97		)	(50		)
Customer financing impairment	(250		)
Litigation	(109		)	(148		)
Eliminations and other unallocated items	(819		)	(737		)	(356		)	(322		)
Unallocated items, eliminations and other		($1,727	)		($1,193	)		($522	)		($471	)
Pension FAS/CAS service cost adjustment		$823			$780			$274			$260
Postretirement FAS/CAS service cost adjustment	270			239			90			77
FAS/CAS service cost adjustment		$1,093			$1,019			$364			$337

Pension and Other Postretirement Benefit Expense

Pension costs, comprising GAAP service and prior service costs, are allocated to BCA and the commercial operations at BGS. 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. FAS/CAS service cost adjustment represents the difference between the FAS pension and postretirement service costs calculated under GAAP and costs allocated to the business segments. Non-operating pension and postretirement expenses represent the components of net periodic benefit costs other than service cost. These expenses are included in Other income.

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Assets

Segment assets are summarized in the table below:

	September 30 2019		December 31 2018
Commercial Airplanes		$74,994		$64,788
Defense, Space & Security	19,431		19,594
Global Services	18,696		17,921
Boeing Capital	2,246		2,809
Unallocated items, eliminations and other	17,231		12,247
Total		$132,598		$117,359

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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REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

To the Board of Directors and Shareholders of

The Boeing Company

Chicago, Illinois

Results of Review of Interim Financial Information

We have reviewed the accompanying condensed consolidated statement of financial position of The Boeing Company and subsidiaries (the “Company”) as of September 30, 2019, the related condensed consolidated statements of operations, comprehensive income, and equity for the three-month and nine-month periods ended September 30, 2019 and 2018, and of cash flows for the nine months ended September 30, 2019 and 2018, and the related notes (collectively referred to as the "condensed consolidated interim financial information"). Based on our reviews, we are not aware of any material modifications that should be made to the accompanying condensed consolidated interim financial information for it to be in conformity with accounting principles generally accepted in the United States of America.

We have previously audited, in accordance with the standards of the Public Company Accounting Oversight Board (United States) (PCAOB), the consolidated statement of financial position of the Company as of December 31, 2018, and the related consolidated statements of operations, comprehensive income, cash flows, and equity for the year then ended (not presented herein); and in our report dated February 8, 2019, we expressed an unqualified opinion on those consolidated financial statements and included an explanatory paragraph related to the Company’s change in method of accounting for revenue from contracts with customers. In our opinion, the information set forth in the accompanying condensed consolidated statement of financial position as of December 31, 2018, is fairly stated, in all material respects, in relation to the consolidated statement of financial position from which it has been derived.

Basis for Review Results

This condensed consolidated interim financial information is the responsibility of the Company's management. 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 reviews in accordance with standards of the PCAOB. A review of interim financial information consists principally of applying analytical procedures and making inquiries of persons responsible for financial and accounting matters. It is substantially less in scope than an audit conducted in accordance with the standards of the PCAOB, the objective of which is the expression of an opinion regarding the financial statements taken as a whole. Accordingly, we do not express such an opinion.

/s/ Deloitte & Touche LLP

Chicago, Illinois

October 23, 2019

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FORWARD-LOOKING STATEMENTS
This report contains “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 could cause actual results to differ materially and adversely from these forward-looking statements. Among these factors are risks related to:
(1)	the timing and conditions surrounding return to service of the 737 MAX fleet;
(2)	general conditions in the economy and our industry, including those due to regulatory changes;
(3)	our reliance on our commercial airline customers;
(4)	the overall health of our aircraft production system, planned commercial aircraft production rate changes, our commercial development and derivative aircraft programs, and our aircraft being subject to stringent performance and reliability standards;
(5)	changing budget and appropriation levels and acquisition priorities of the U.S. government;
(6)	our dependence on U.S. government contracts;
(7)	our reliance on fixed-price contracts;
(8)	our reliance on cost-type contracts;
(9)	uncertainties concerning contracts that include in-orbit incentive payments;
(10)	our dependence on our subcontractors and suppliers as well as the availability of raw materials;
(11)	changes in accounting estimates;
(12)	changes in the competitive landscape in our markets;
(13)	our non-U.S. operations, including sales to non-U.S. customers;
(14)	threats to the security of our or our customers' information;
(15)	potential adverse developments in new or pending litigation and/or government investigations;
(16)	customer and aircraft concentration in our customer financing portfolio;
(17)	changes in our ability to obtain debt on commercially reasonable terms and at competitive rates;
(18)	realizing the anticipated benefits of mergers, acquisitions, joint ventures, strategic alliances or divestitures;

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(19)	the adequacy of our insurance coverage to cover significant risk exposures;
(20)	potential business disruptions, including those related to physical security threats, information technology or cyber attacks, epidemics, sanctions or natural disasters;
(21)	work stoppages or other labor disruptions;
(22)	substantial pension and other postretirement benefit obligations; and
(23)	potential environmental liabilities.
Additional information concerning these and other factors can be found in our filings with the Securities and Exchange Commission, including our most recent Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and Current Reports on Form 8-K. Any forward-looking information 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.

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Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations

Consolidated Results of Operations and Financial Condition

Earnings From Operations and Core Operating Earnings (Non-GAAP) The following table summarizes key indicators of consolidated results of operations:

(Dollars in millions, except per share data)	Nine months ended September 30						Three months ended September 30
	2019			2018			2019			2018
Revenues		$58,648			$72,786			$19,980			$25,146
GAAP
Earnings from operations		$229			$7,812			$1,259			$2,227
Operating margins	0.4		%	10.7		%	6.3		%	8.9		%
Effective income tax rate	(350.6		)%	6.9		%	0.8		%	(10.8		)%
Net earnings		$374			$7,036			$1,167			$2,363
Diluted earnings per share		$0.66			$11.95			$2.05			$4.07
Non-GAAP (1)
Core operating (loss)/earnings		($864	)		$6,793			$895			$1,890
Core operating margins	(1.5		%)	9.3		%	4.5		%	7.5		%
Core (loss)/earnings per share		($1.13	)		$10.55			$1.45			$3.58

⁽¹⁾  These measures exclude certain components of pension and other postretirement benefit expense. See page 53 for important information about these non-GAAP measures and reconciliations to the most comparable GAAP measures.

Revenues

The following table summarizes Revenues:

(Dollars in millions)	Nine months ended September 30						Three months ended September 30
	2019			2018			2019			2018
Commercial Airplanes		$24,793			$40,968			$8,249			$14,071
Defense, Space & Security	20,265			19,518			7,042			6,937
Global Services	13,820			12,148			4,658			4,101
Boeing Capital	207			214			66			77
Unallocated items, eliminations and other	(437		)	(62		)	(35		)	(40		)
Total		$58,648			$72,786			$19,980			$25,146

Revenues for the nine months ended September 30, 2019 decreased by $14,138 million compared with the same period in 2018. Commercial Airplanes (BCA) revenues decreased by $16,175 million driven by lower deliveries and a revenue reduction of $5,610 million that was recorded in the second quarter of 2019 related to estimated potential concessions and other considerations to customers for disruptions and associated delivery delays related to the 737 MAX grounding. Defense, Space & Security (BDS) revenues increased by $747 million primarily due to higher revenues from satellites, weapons, derivative aircraft, and early warning aircraft, partially offset by lower revenue for fighters and C-17. Global Services (BGS) revenues increased by $1,672 million primarily due to the acquisition of KLX, Inc. in the fourth quarter of 2018 and international government services revenue. The changes in Unallocated items, eliminations and other primarily reflect the timing of eliminations for intercompany aircraft deliveries.

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Revenues for the three months ended September 30, 2019 decreased by $5,166 million compared with the same period in 2018. BCA revenues decreased by $5,822 million primarily due to lower deliveries resulting from the 737 MAX grounding. BDS revenues increased by $105 million primarily due to higher revenues from satellites, weapons, and T-7A Red Hawk, partially offset by lower revenues for the F-15 program. BGS revenues increased by $557 million, primarily due to the acquisition of KLX, Inc. in the fourth quarter of 2018 and international government services revenue.

Earnings From Operations

The following table summarizes Earnings from operations:

(Dollars in millions)	Nine months ended September 30						Three months ended September 30
	2019			2018			2019			2018
Commercial Airplanes		($3,813	)		$5,230			($40	)		$2,033
Defense, Space & Security	2,577			886			755			(247		)
Global Services	2,013			1,799			673			548
Boeing Capital	86			71			29			27
Segment operating profit	863			7,986			1,417			2,361
Pension FAS/CAS service cost adjustment	823			780			274			260
Postretirement FAS/CAS service cost adjustment	270			239			90			77
Unallocated Items, Eliminations and Other	(1,727		)	(1,193		)	(522		)	(471		)
Earnings from operations (GAAP)		$229			$7,812			$1,259			$2,227
FAS/CAS service cost adjustment *	(1,093		)	(1,019		)	(364		)	(337		)
Core operating (loss)/earnings (Non-GAAP) **		($864	)		$6,793			$895			$1,890

* The FAS/CAS service cost adjustment represents the difference between the FAS pension and postretirement service costs calculated under GAAP and costs allocated to the business segments.

** Core operating (loss)/earnings is a Non-GAAP measure that excludes the FAS/CAS service cost adjustment. See page 53.

Earnings from operations for the nine months ended September 30, 2019 decreased by $7,583 million compared with the same period in 2018, primarily due to lower earnings at BCA and a customer financing impairment of $250 million that was recorded in Unallocated Items, Eliminations and Other. The decrease was partially offset by higher earnings at BDS and BGS. BCA earnings from operations decreased by $9,043 million primarily due to the earnings charge for the 737 MAX grounding of $5,610 million and lower 737 deliveries, partially offset by higher 787 margins. BDS earnings from operations increased by $1,691 million, primarily due to lower charges on development programs. During the third quarter of 2018, upon contract award, we recorded charges of $400 million associated with anticipated losses on the T-7A Red Hawk and $291 million on the MQ-25. During the nine months ended September 30, 2018, BDS recorded reach-forward losses of $674 million related to the KC-46A Tanker program. BGS earnings from operations increased by $214 million primarily due to higher revenues.

Earnings from operations for the three months ended September 30, 2019 decreased by $968 million compared with the same period in 2018, primarily due to lower earnings at BCA, partially offset by higher earnings at BDS and BGS. BCA's earnings from operations decreased $2,073 million primarily due to lower 737 deliveries, partially offset by higher 787 margins. BDS earnings from operations increased by $1,002 million, compared with the same period in 2018 primarily due to charges on the T-7A Red Hawk, MQ-25, and KC-46A Tanker programs recorded in the third quarter of 2018. BGS earnings from operations increased by $125 million primarily due to higher revenues and improved performance and mix.

Core operating earnings for the nine and three months ended September 30, 2019 decreased by $7,657 million and $995 million compared with the same periods in 2018 primarily due to lower earnings at BCA, partially offset by higher earnings at BDS and BGS.

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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)	Nine months ended September 30						Three months ended September 30
	2019			2018			2019			2018
Share-based plans		($57	)		($60	)		($21	)		($24	)
Deferred compensation	(154		)	(112		)	(25		)	(56		)
Amortization of previously capitalized interest	(68		)	(67		)	(23		)	(19		)
Research and development expense, net	(270		)	(69		)	(97		)	(50		)
Customer financing impairment	(250		)
Litigation	(109		)	(148		)
Eliminations and other unallocated items	(819		)	(737		)	(356		)	(322		)
Unallocated items, eliminations and other		($1,727	)		($1,193	)		($522	)		($471	)

The deferred compensation expense increased by $42 million for the nine months ended September 30, 2019 compared with the same period in 2018 primarily driven by changes in broad market conditions.

Research and development expense increased by $201 million and $47 million for the nine and three months ended September 30, 2019 compared with the same periods in 2018 primarily due to enterprise investments in new products and technologies.

During the first quarter of 2019, we recorded a $250 million charge related to the impairment of lease incentives with one customer that is currently experiencing liquidity issues.

During the second quarter of 2019, we recorded a charge of $109 million related to ongoing litigation associated with recoverable costs on U.S. government contracts. In the second quarter of 2018, we recorded a charge of $148 million related to the outcome of the Spirit litigation.

A portion of service 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.

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

(Dollars in millions)	Nine months ended September 30						Three months ended September 30
Pension Plans	2019			2018			2019			2018
Allocated to business segments		($1,057	)		($1,017	)		($350	)		($339	)
Pension FAS/CAS service cost adjustment	823			780			274			260
Net periodic benefit cost included in Earnings from operations		($234	)		($237	)		($76	)		($79	)

The pension FAS/CAS service cost adjustment recognized in earnings in 2019 is largely consistent with the same periods in the prior year. The net periodic benefit costs included in Earnings from operations in 2019 is largely consistent with the same periods in the prior year.

For discussion related to Postretirement Plans, see Note 14 to our Condensed Consolidated Financial Statements.

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Other Earnings Items 

(Dollars in millions)	Nine months ended September 30						Three months ended September 30
	2019			2018			2019			2018
Earnings from operations		$229			$7,812			$1,259			$2,227
Other income	334			63			121			12
Interest and debt expense	(480		)	(317		)	(203		)	(106		)
Earnings from operations	83			7,558			1,177			2,133
Income tax benefit/(expense)	291			(522		)	(10		)	230
Net earnings from continuing operations		$374			$7,036			$1,167			$2,363

Other income increased by $271 million and $109 million during the nine and three months ended September 30, 2019, primarily due to non-operating pension expense. Non-operating pension expense was a benefit of $280 million and $93 million during the nine and three months ended September 30, 2019 compared with $98 million and $50 million during the same periods in 2018. The benefits in 2019 reflect lower amortization of actuarial losses driven by higher discount rates. This is partially offset by higher interest costs and lower expected returns, as a result of the lower value of plan assets at December 31, 2018 compared to 2017.

Higher interest and debt expense for the nine and three months ended September 30, 2019 is a result of higher debt balances.

For discussion related to Income Taxes, see Note 4 to our Condensed 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 BCA segment predominantly uses program accounting to account for cost of sales. 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. For long-term contracts, the amount reported as cost of sales is recognized as incurred. Substantially all contracts at our BDS segment and certain contracts at our BGS segment are long-term contracts with the U.S. government and other customers that generally extend over several years. Costs on these contracts are recorded as incurred. Cost of sales for commercial spare parts is recorded at average cost.

The following table summarizes cost of sales:

(Dollars in millions)	Nine months ended September 30									Three months ended September 30
	2019			2018			Change			2019			2018			Change
Cost of sales		$53,385			$59,400			($6,015	)		$16,930			$21,040			($4,110	)
Cost of sales as a % of Revenues	91.0		%	81.6		%	9.4		%	84.7		%	83.7		%	1.0		%

Cost of sales for the nine and three months ended September 30, 2019 decreased by $6,015 million, or 10% and by $4,110 million, or 20% compared with the same periods in 2018, primarily due to lower revenue and lower reach-forward losses. Cost of sales as a percentage of Revenues increased in 2019 resulting from the reduction in revenue due to the 737 MAX grounding.

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

(Dollars in millions)	Nine months ended September 30				Three months ended September 30
	2019		2018		2019		2018
Commercial Airplanes		$1,529		$1,616		$467		$517
Defense, Space & Security	569		613		185		211
Global Services	102		119		29		48
Other	270		69		97		50
Total		$2,470		$2,417		$778		$826

Research and development expense increased by $53 million during the nine months ended September 30, 2019 compared to the prior period in 2018, primarily due to enterprise and BCA investments in product development, partially offset by lower 777X and 737 MAX spending. Research and development expense decreased by $48 million during the three months ended September 30, 2019 compared to the prior period in 2018, primarily due to lower spending on 777X and 737 MAX, partially offset by higher enterprise and BCA investments in product development.

Backlog

(Dollars in millions)	September 30 2019		December 31 2018
Commercial Airplanes		$387,397		$408,140
Defense, Space & Security	61,740		61,277
Global Services	21,088		21,064
Total Backlog		$470,225		$490,481
Contractual backlog		$444,711		$462,070
Unobligated backlog	25,514		28,411
Total Backlog		$470,225		$490,481

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 decrease during the nine months ended September 30, 2019 was primarily due to BCA deliveries in excess of new orders and a reduction in backlog related to orders from a customer experiencing liquidity issues, partially offset by BDS current year contract awards in excess of revenue recognized on contracts awarded in prior years.

Unobligated backlog includes U.S. and non-U.S. government definitive contracts for which funding has not been authorized. The decrease during the nine months ended September 30, 2019 was primarily due to reclassifications to contractual backlog related to BGS and BDS contracts.

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. However, from the time of that reauthorization until May 8, 2019, when the U.S. Senate confirmed members sufficient to constitute a quorum of the bank’s board of directors, the bank was not able to approve any transaction totaling more than $10 million. The bank is authorized through November 21, 2019.

If the bank's charter is not reauthorized on a timely basis, or if the bank’s future funding authority is insufficient to meet our customers’ needs, 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.

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Global Trade In June 2018, the U.S. Government began imposing tariffs on steel and aluminum imports. In response to these tariffs, several major U.S. trading partners have imposed, or announced their intention to impose, tariffs on U.S. goods. In May 2019, the U.S. Government, Mexico and Canada reached an agreement to end the steel and aluminum tariffs between these countries. We continue to monitor this agreement and the potential for any extra costs that may result from the remaining global tariffs.

In July 2018, the U.S. and China began imposing tariffs on approximately $34 billion of each other's exports. Certain aircraft parts and components that Boeing procures are subject to these tariffs. Subsequently, the U.S. imposed tariffs on an additional $216 billion in Chinese goods, and China imposed tariffs on an additional $76 billion worth of U.S goods. Negotiations to resolve the trade dispute are currently ongoing.

The continued global trade tension has resulted in market uncertainties and fewer orders than anticipated for our commercial aircraft. In the third quarter of 2019, we decided to reduce the production rate on the 787 program for approximately two years beginning in late 2020. We continue to monitor the potential for additional disruption and adverse revenue and/or cost impacts that may result from global trade tension including, the potential imposition of further tariffs, or other future geopolitical economic developments.

The U.S. Government continues to impose and/or consider imposing sanctions on certain businesses and individuals in Russia. Although our operations or sales in Russia have not been impacted to date, we continue to monitor additional sanctions that may be imposed by the U.S. Government and any responses from Russia that could affect our supply chain, business partners or customers.

Segment Results of Operations and Financial Condition

Commercial Airplanes

Business Environment and Trends

Airline Industry Environment

Our updated 20-year forecast, published in June 2019, projects a long-term average growth rate of 4.6% per year for passenger traffic and 4.2% for cargo traffic. Based on long-term global economic growth projections of 2.7% average annual GDP growth, we project a $6.8 trillion market for 44,040 new airplanes over the next 20 years.

Results of Operations

(Dollars in millions)	Nine months ended September 30						Three months ended September 30
	2019			2018			2019			2018
Revenues		$24,793			$40,968			$8,249			$14,071
(Loss)/Earnings from operations		($3,813	)		$5,230			($40	)		$2,033
Operating margins	(15.4		)%	12.8		%	(0.5		)%	14.4		%

Revenues

Revenues for the nine months ended September 30, 2019 decreased by $16,175 million compared with the same period in 2018 driven by lower deliveries and a revenue reduction of $5,610 million that was recorded in the second quarter of 2019 related to estimated potential concessions and other considerations to customers for disruptions and associated delivery delays related to the 737 MAX grounding.

Revenues for the three months ended September 30, 2019 decreased by $5,822 million compared with the same period in 2018 driven by lower deliveries due to the 737 MAX grounding. The 737 MAX grounding will continue to have a significant impact on revenues until deliveries resume.

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Commercial airplane deliveries, including intercompany deliveries, were as follows:

	737	*	747	767	*	777	†	787	Total
Deliveries during the first nine months of 2019	118	(15)	5	32	(18)	33	(1)	113	301
Deliveries during the first nine months of 2018	407	(14)	5	13		37		106	568
Deliveries during the third quarter of 2019	5	(5)	1	10	(4)	11		35	62
Deliveries during the third quarter of 2018	138	(4)	2	4		12		34	190
Cumulative deliveries as of 9/30/2019	7,430		1,553	1,165		1,615		894
Cumulative deliveries as of 12/31/2018	7,312		1,548	1,133		1,582		781

* Intercompany deliveries identified by parentheses

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

Loss/Earnings From Operations

Loss from operations for the nine months ended September 30, 2019 was $3,813 million compared with earnings from operations of $5,230 million in the same period in 2018. This decrease of $9,043 million is primarily due to the earnings charge for the 737 MAX grounding of $5,610 million and lower 737 deliveries, partially offset by higher 787 margins.

Loss from operations for the three months ended September 30, 2019 was $40 million compared with earnings from operations of $2,033 million in the same period in 2018. This decrease of $2,073 million is primarily due to lower 737 deliveries, partially offset by higher 787 margins. The 737 MAX grounding will continue to adversely impact margins until deliveries resume.

Backlog

Our total backlog represents the estimated transaction prices on unsatisfied and partially satisfied performance obligations to our customers where we believe it is probable that we will collect the consideration due and 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. Backlog excludes options and BCC orders. 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. The value of orders in backlog is adjusted as changes to price and schedule are agreed to with customers and is reported in accordance with the requirements of Topic 606.

BCA total backlog decreased from $408,140 million as of December 31, 2018 to $387,397 million at September 30, 2019 primarily due to deliveries in excess of new orders and a reduction in backlog related to orders from a customer experiencing liquidity issues. While the 737 MAX grounding has not resulted in significant order cancellations, we are experiencing fewer new 737 MAX orders than we were receiving prior to the grounding.

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Accounting Quantity

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

	Program
As of 9/30/2019	737		747*	767	777	†	777X	787	†
Program accounting quantities	10,400		1,574	1,195	1,690		**	1,600
Undelivered units under firm orders	4,406		19	105	85	(1)	344	529	(31)
Cumulative firm orders	11,836		1,572	1,270	1,700		344	1,423
As of 12/31/2018	737	†	747	767	777	†	777X	787	†
Program accounting quantities	10,400		1,574	1,195	1,680		**	1,600
Undelivered units under firm orders	4,708	(75)	24	111	100	(2)	326	604	(30)
Cumulative firm orders	12,020		1,572	1,244	1,682		326	1,385

† Aircraft ordered by BCC are identified in parentheses

* At September 30, 2019, the 747 accounting quantity includes one already completed aircraft that has not been sold and is being remarketed.

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

Program Highlights

737 Program See the discussion of the 737 MAX Grounding and 737NG Structure (Pickle Fork) in Note 11 and 19 to our Condensed Consolidated Financial Statements.

747 Program We are currently producing at a rate of 0.5 aircraft per month. We continue to evaluate the viability of the 747 program. We believe that a decision to end production of the 747 at the end of the current accounting quantity would not have a material impact on our financial position, results of operations or cash flows.

767 Program The 767 assembly line includes a 767 derivative to support the tanker program. We are currently producing at a rate of 2.5 per month and plan to increase to 3 per month in 2020.

777 Program The accounting quantity for the 777 program increased by 10 units during the three months ended June 30, 2019 due to the program’s normal progress of obtaining additional orders and delivering airplanes. In 2013, we launched the 777X, which features a new composite wing, new engines and folding wing-tips. We have experienced issues in engine design and development on the 777X and have delayed first flight to early 2020, with first delivery now targeted for early 2021. The 777 and 777X programs have a combined production rate of 5 per month. We plan to produce more 777 models and fewer 777X models in the near term than previously planned. We expect to deliver at an average rate of 3 per month in 2020. The 777X will have a separate program accounting quantity, which will be determined in the year of first airplane delivery.

787 Program At the end of the first quarter of 2019, we increased the production rate from 12 per month to 14 per month. We delivered the first 787-10 in March 2018. Continued global trade tension has resulted in market uncertainties and fewer orders than anticipated. During the third quarter of 2019, we decided to reduce the 787 production rate to 12 per month for approximately two years beginning in late 2020.

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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 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 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

The Bipartisan Budget Act (BBA) of 2019 raised the Budget Control Act limits on federal discretionary defense and non-defense spending for fiscal years 2020 and 2021 (FY20 and FY21), reducing budget uncertainty and the risk of sequestration. Although overall funding levels have been agreed to, the timeliness of FY20 funding for government departments and agencies, including the Department of Defense (DoD), the National Aeronautics and Space Administration (NASA) and the Federal Aviation Administration (FAA), remains a risk. The Continuing Resolution (CR), enacted on September 27, 2019, continues federal funding at FY19 appropriations levels through November 21, 2019. Congress and the President must enact either full-year FY20 appropriations bills or an additional CR to fund government departments and agencies beyond November 21, 2019 in order to prevent a future government shutdown.

A government shutdown may impact the Company's operations. 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. Congress may fund FY20 by passing one or more CRs; however, this could restrict the execution of certain program activities and delay new programs or competitions.

There continues to be uncertainty with respect to future program-level appropriations for the U.S. DoD and other government agencies, including NASA. 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 our results of operations, financial position and/or cash flows.

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Results of Operations

(Dollars in millions)	Nine months ended September 30						Three months ended September 30
	2019			2018			2019			2018
Revenues		$20,265			$19,518			$7,042			$6,937
Earnings from operations		$2,577			$886			$755			($247	)
Operating margins	12.7		%	4.5		%	10.7		%	(3.6		)%

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 period 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:

	Nine months ended September 30		Three months ended September 30
	2019	2018	2019	2018
F/A-18 Models	16	10	6	5
F-15 Models	7	8	2	3
C-17 Globemaster III	1		1
CH-47 Chinook (New)	13	11	6	2
CH-47 Chinook (Renewed)	16	14	7	6
AH-64 Apache (New)	27		17
AH-64 Apache (Remanufactured)	56	12	21	6
P-8 Models	14	10	6	2
KC-46 Tanker	21		9
C-40A	2		2
Total	173	65	77	24

Revenues

BDS revenues for the nine months ended September 30, 2019 increased by $747 million compared with the same period in 2018, primarily due to higher revenues from satellites, weapons, derivative aircraft, and early warning aircraft, partially offset by lower revenue for fighters and C-17. The favorable impact of cumulative contract catch-up adjustments to revenue for the nine months ended September 30, 2019 was $230 million higher than the comparable period in the prior year, reflecting decreased unfavorable adjustments on the KC-46A Tanker.

BDS revenues for the three months ended September 30, 2019 increased by $105 million compared with the same period in 2018, primarily due to higher revenues from satellites, weapons, and T-7A Red Hawk, partially offset by lower revenues for the F-15 program. Net unfavorable cumulative contract catch-up adjustments to revenue for the three months ended September 30, 2019 was $70 million lower compared with the same period in 2018, reflecting decreased unfavorable adjustments on the KC-46A Tanker.

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Earnings From Operations

BDS earnings from operations for the nine and three months ended September 30, 2019 increased by $1,691 million and $1,002 million compared with the same periods in 2018, primarily due to lower charges on development programs. During the third quarter of 2018, upon contract award, we recorded charges of $400 million associated with anticipated losses on the T-7A Red Hawk and $291 million on the MQ-25. During the nine and three months ended September 30, 2018, BDS recorded reach-forward losses of $674 million and $176 million related to the KC-46A Tanker program.

The favorable impact of cumulative contract catch-up adjustments for the nine months ended September 30, 2019 was $495 million higher than the comparable period in the prior year, reflecting decreased unfavorable adjustments on the KC-46A Tanker. Net unfavorable cumulative contract catch-up adjustments were lower by $160 million for the three months ended September 30, 2019 compared with the same period in 2018, reflecting decreased unfavorable adjustments on the KC-46A Tanker.

BDS earnings from operations include equity earnings of $125 million and $60 million for the nine and three months ended September 30, 2019 compared to $139 million and $48 million for the same periods in 2018 primarily reflecting earnings on our ULA joint venture.

Backlog

Total backlog increased from $61,277 million at December 31, 2018 to $61,740 million at September 30, 2019 primarily due to current year contract awards including F/A-18 fighters, P-8A Poseidon, KC-46A Tanker, and E-7 Airborne Early Warning & Control, partially offset by revenue recognized on contracts awarded in prior years.

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 and BDS customers are increasingly seeking fixed priced proposals for new programs. Examples of significant fixed-price development programs include Commercial Crew, USAF KC-46A Tanker, T-7A Red Hawk (formerly T-X Trainer), VC-25B Presidential Aircraft, MQ-25, and commercial and military satellites. New programs could also have risk for reach-forward loss upon contract award and during the period of contract performance. In the third quarter of 2018, we were awarded contracts to develop the T-7A Red Hawk aircraft with complementary devices and the MQ-25. We recorded orders of $1,618 million and recognized losses of $691 million associated with these contracts. Many development 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.

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. In 2016, following our achievement of key flight testing milestones, the USAF authorized two LRIP lots for 7 and 12 aircraft valued

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at $2.8 billion and in 2017, the USAF authorized an additional LRIP lot for 15 aircraft valued at $2.1 billion. On September 10, 2018, the USAF authorized an additional LRIP lot for 18 aircraft valued at $2.9 billion. On September 27, 2019, the USAF authorized an additional LRIP lot for 15 aircraft valued at $2.6 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.

During 2018, we recorded additional reach-forward losses of $736 million primarily reflecting higher estimated costs associated with certification, flight testing and change incorporation on aircraft, as well as higher than expected effort to meet customer requirements in order to support delivery of the initial aircraft.

As with any development program, this program remains subject to additional reach-forward losses if we experience further production, technical or quality issues.

United Launch Alliance See the discussion of Indemnifications to ULA and Financing Commitments in Notes 5, 11 and 12 of our Condensed Consolidated Financial Statements.

Sea Launch See the discussion of the Sea Launch receivables in Note 9 to our Condensed Consolidated Financial Statements.

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

T-7A Red Hawk In September 2018, we were selected by the U.S. Air Force to build the next generation training capability, known as T-7A Red Hawk (formerly T-X Trainer). The program includes aircraft and simulators as well as support and ground equipment. The contract is structured as an indefinite delivery/indefinite quantity (IDIQ) fixed-price contract with a minimum of 206 aircraft and a maximum of 475 aircraft. The EMD contract is a fixed-price contract valued at $813 million and includes five aircraft and seven simulators, with a period of performance that runs through 2022. The production and support contracts are structured as options that begin with authorization from fiscal year 2022 to 2034. In connection with winning this competition, we recorded a reach-forward loss of $400 million associated with anticipated losses on the options for 346 aircraft that we believe are probable of being exercised. We believe that our investment in this contract positions us for additional market opportunities for both trainer and light attack aircraft.

MQ-25 In August 2018, we were awarded an EMD contract to build the MQ-25 for the U.S. Navy. The EMD contract is a fixed-price contract that includes development and delivery of four aircraft and test articles at a contract price of $805 million. In connection with winning this competition, we recognized a reach-forward loss of $291 million. The period of performance runs from 2018 through 2024. The MQ-25 is the U.S. Navy’s first operational carrier-based unmanned aircraft, and we believe that our investment in this contract positions us for long-term leadership in autonomy and artificial intelligence technologies along with additional market opportunities.

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Global Services

Results of Operations

(Dollars in millions)	Nine months ended September 30						Three months ended September 30
	2019			2018			2019			2018
Revenues		$13,820			$12,148			$4,658			$4,101
Earnings from operations		$2,013			$1,799			$673			$548
Operating margins	14.6		%	14.8		%	14.4		%	13.4		%

Revenues

BGS revenues for the nine and three months ended September 30, 2019 increased by $1,672 million and $557 million compared with the same periods in 2018 primarily due to the acquisition of KLX, Inc. in the fourth quarter of 2018 and international government services revenue. Net favorable cumulative contract catch-up adjustments to revenue were lower by $50 million for the nine months ended September 30, 2019 compared with the same period in 2018. The unfavorable impact of cumulative contract catch-up adjustments to revenue was higher by $74 million for the three months ended September 30, 2019 compared with the same period in 2018.

Earnings From Operations

BGS earnings from operations for the nine months ended September 30, 2019 increased by $214 million compared with the same period in 2018 primarily due to higher revenues. BGS earnings from operations for the three months ended September 30, 2019 increased by $125 million primarily due to higher revenues and improved performance and mix. Net favorable cumulative contract catch-up adjustments were lower by $27 million and lower by $31 million for the nine and three months ended September 30, 2019 compared with the same periods in 2018.

Backlog

BGS total backlog increased from $21,064 million as of December 31, 2018 to $21,088 million at September 30, 2019.

Boeing Capital

Results of Operations

(Dollars in millions)	Nine months ended September 30						Three months ended September 30
	2019			2018			2019			2018
Revenues		$207			$214			$66			$77
Earnings from operations		$86			$71			$29			$27
Operating margins	42		%	33		%	44		%	35		%

Revenues

Boeing Capital (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 for the nine and three months ended September 30, 2019 decreased compared with the same periods in 2018 primarily due to lower gains on the sale of assets.

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

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operations for the nine and three months ended September 30, 2019 increased compared with the same periods in 2018 primarily due to lower operating expenses.

Financial Position

The following table presents selected financial data for BCC:

(Dollars in millions)	September 30 2019		December 31 2018
Customer financing and investment portfolio, net		$2,226		$2,790
Other assets, primarily cash and short-term investments	523		717
Total assets		$2,749		$3,507
Other liabilities, primarily deferred income taxes		$448		$523
Debt, including intercompany loans	1,891		2,487
Equity	410		497
Total liabilities and equity		$2,749		$3,507
Debt-to-equity ratio	4.6-to-1		5.0-to-1

BCC’s customer financing and investment portfolio at September 30, 2019 decreased from December 31, 2018 primarily due to $585 million of note payoffs and portfolio run-off and $250 million related to the impairment of lease incentives, partially offset by new volume.

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. The $250 million impairment of lease incentives did not result in an earnings charge in the BCC segment because of an intercompany guarantee.

Aircraft subject to leases with a carrying value of approximately $101 million are scheduled to be returned off lease in the next 12 months. We are seeking to remarket these aircraft or have the leases extended.

Liquidity and Capital Resources

Cash Flow Summary

(Dollars in millions)	Nine months ended September 30
	2019			2018
Net earnings		$374			$7,036
Non-cash items	2,052			1,823
Changes in working capital	(2,652		)	3,516
Net cash (used)/provided by operating activities	(226		)	12,375
Net cash used by investing activities	(2,047		)	(2,197		)
Net cash provided/(used) by financing activities	4,336			(10,866		)
Effect of exchange rate changes on cash and cash equivalents	(27		)	(37		)
Net increase/(decrease) in cash & cash equivalents, including restricted	2,036			(725		)
Cash & cash equivalents, including restricted, at beginning of year	7,813			8,887
Cash & cash equivalents, including restricted, at end of period		$9,849			$8,162

Operating Activities Net cash used by operating activities was $0.2 billion during the nine months ended September 30, 2019, compared with cash provided of $12.4 billion during the same period in 2018. The decrease in operating cash flows compared with the same period in 2018 primarily reflects the impacts of

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the 737 MAX grounding that is resulting in higher inventory, the lack of delivery payments and lower advances and progress payments. The reduction in net earnings from operations for the nine months ended September 30, 2019 compared with the same period in 2018, is primarily due to the $5.6 billion charge in the second quarter of 2019 for estimated potential concessions and other considerations to 737 MAX customers, which did not affect cash flows, and lower 737 deliveries. Cash used by Inventory was $9.6 billion during the nine months ended September 30, 2019, primarily due to the suspension of 737 MAX deliveries, which resulted in higher commercial airplane program inventory as we continue to produce 737 MAX aircraft at a rate of 42 per month. Cash provided by Advances and progress billings was $2.4 billion and $3.5 billion during the nine months ended September 30, 2019 and 2018 reflecting the suspension of 737 MAX deliveries and lower 737 MAX orders. Net cash provided by operating activities in future quarters is expected to be adversely impacted by the 737 MAX grounding.

Investing Activities Cash used by investing activities was $2.0 billion during the nine months ended September 30, 2019, compared with $2.2 billion during the same period in 2018, primarily due to lower net contributions to investments and higher proceeds from property sales in 2019, partially offset by higher cash paid for acquisitions and capital expenditures in 2019. In the nine months ended September 30, 2019 and 2018, capital expenditures totaled $1.4 billion and $1.2 billion. We expect capital expenditures in 2019 to be consistent with 2018.

Financing Activities Cash provided by financing activities was $4.3 billion during the nine months ended September 30, 2019 compared with cash used of $10.9 billion during the same period in 2018, primarily reflecting higher net borrowings and lower share repurchases, partially offset by higher dividend payments in 2019. During the nine months ended September 30, 2019, new borrowings net of repayments increased by $10.6 billion compared with an increase of $0.7 billion in the same period in 2018.

At September 30, 2019, the recorded balance of debt was $24.7 billion, of which $4.4 billion was classified as short-term. Debt, including intercompany loans, attributable to BCC totaled $1.9 billion, of which $0.7 billion was classified as short-term.

During the nine months ended September 30, 2019 we repurchased 6.9 million shares totaling $2.7 billion through our open market share repurchase program. In addition, 0.6 million shares were transferred to us from employees for tax withholdings. Share repurchases during the nine months ended September 30, 2018 totaled $8.4 billion. At September 30, 2019, the amount available under the share repurchase plan, announced on December 17, 2018, totaled $17.3 billion. Share repurchases under this plan are currently suspended.

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 program that serves as a source of short-term liquidity. At September 30, 2019 and December 31, 2018 commercial paper borrowings totaled $2,990 million and $1,895 million. Currently, we have $6.6 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 $15.6 billion and $19.5 billion at September 30, 2019 and December 31, 2018. The decrease primarily relates to financing commitment expirations. 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 have financed 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. However, from the time of that reauthorization until May 8, 2019, when the U.S. Senate confirmed members sufficient to constitute a quorum of the bank’s board of directors, the bank was not able to approve any transaction totaling more than $10 million. The bank is authorized through November 21, 2019. If the bank's charter is not reauthorized on a timely basis, or if the bank’s future funding authority is insufficient to meet our customers’ needs, 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

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reasonable costs, and there may be further impacts with respect to future sales campaigns involving non-U.S. 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, including impacts related to the 737 MAX grounding, 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 or in the debt markets.

At September 30, 2019, 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.

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 Condensed 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 19 to our Condensed Consolidated Financial Statements.

Environmental Remediation We are involved with various environmental remediation activities and have recorded a liability of $582 million at September 30, 2019. For additional information, see Note 11 to our Condensed Consolidated Financial Statements.

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Non-GAAP Measures

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

Our unaudited condensed consolidated interim 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, and core operating margin and core earnings per share exclude the FAS/CAS service cost adjustment. The FAS/CAS service cost adjustment represents the difference between the FAS pension and postretirement service costs calculated under GAAP and costs allocated to the business segments. Core earnings per share excludes both the FAS/CAS service cost adjustment and non-operating pension and postretirement expenses. Non-operating pension and postretirement expenses represent the components of net periodic benefit costs other than service cost. 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 Pension FAS/CAS service cost adjustment recognized in earnings was a benefit of $823 million and $274 million for the nine and three months ended September 30, 2019, compared with a benefit of $780 million and $260 million during the same periods in 2018. The non-operating pension expense included in Other income was a benefit of $280 million and $93 million for the nine and three months ended September 30, 2019 compared with $98 million and $50 million for the same periods in 2018. The benefits in 2019 reflect lower amortization of actuarial losses driven by higher discount rates. This is partially offset by higher interest costs and lower expected returns, as a result of the lower value of plan assets at December 31, 2018 compared to 2017.

For further discussion of pension and other postretirement costs see the Management’s Discussion and Analysis on page 39 of this Form 10-Q and on page 45 of our 2018 Annual Report on Form 10-K. 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)	Nine months ended September 30						Three months ended September 30
	2019			2018			2019			2018
Revenues		$58,648			$72,786			$19,980			$25,146
Earnings from operations, as reported		$229			$7,812			$1,259			$2,227
Operating margins	0.4		%	10.7		%	6.3		%	8.9		%
Pension FAS/CAS service cost adjustment (1)		($823	)		($780	)		($274	)		($260	)
Postretirement FAS/CAS service cost adjustment (1)		($270	)		($239	)		($90	)		($77	)
FAS/CAS service cost adjustment (1)		($1,093	)		($1,019	)		($364	)		($337	)
Core operating (loss)/earnings (non-GAAP)		($864	)		$6,793			$895			$1,890
Core operating margins (non-GAAP)	(1.5		)%	9.3		%	4.5		%	7.5		%
Diluted earnings per share, as reported		$0.66			$11.95			$2.05			$4.07
Pension FAS/CAS service cost adjustment (1)	(1.45		)	(1.32		)	(0.48		)	(0.45		)
Postretirement FAS/CAS service cost adjustment (1)	(0.47		)	(0.41		)	(0.16		)	(0.13		)
Non-operating pension expense (2)	(0.49		)	(0.17		)	(0.17		)	(0.09		)
Non-operating postretirement expense (2)	0.14			0.13			0.05			0.05
Provision for deferred income taxes on adjustments (3)	0.48			0.37			0.16			0.13
Core (loss)/earnings per share (non-GAAP)		($1.13	)		$10.55			$1.45			$3.58
Weighted average diluted shares (in millions)	570.4			588.9			569.2			580.8

⁽¹⁾ FAS/CAS service cost adjustment represents the difference between the FAS pension and postretirement service costs calculated under GAAP and costs allocated to the business segments. This adjustment is excluded from Core operating earnings (non-GAAP).

⁽²⁾ Non-operating pension and postretirement expenses represent the components of net periodic benefit costs other than service cost. These expenses are included in Other income, net and are excluded from Core earnings per share (non-GAAP).

⁽³⁾     The income tax impact is calculated using the U.S. corporate statutory tax rate.

Critical Accounting Policies and Estimates

737 MAX Grounding

On March 13, 2019, the Federal Aviation Administration (FAA) issued an order to suspend operations of all 737 MAX aircraft in the U.S. and by U.S. aircraft operators following two fatal 737 MAX accidents. Non-U.S. civil aviation authorities have issued directives to the same effect. The grounding is having a significant adverse impact on our operations and creates significant uncertainty.

Multiple legal actions have been filed against us as a result of the October 29, 2018 accident of Lion Air Flight 610 and the March 10, 2019 accident of Ethiopian Airlines Flight 302. Further, we are fully cooperating with all ongoing governmental and regulatory investigations and inquiries relating to the accidents and the 737 MAX. We cannot reasonably estimate a range of loss, if any, not covered by available insurance that may result given the ongoing status of these lawsuits, investigations, and inquiries. We have also experienced claims and/or assertions from customers in connection with the grounding.

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In the preparation of our financial statements, we have made assumptions regarding outcomes of accident investigations, timing and conditions of return to service, timing of future 737 production rate increases, supplier readiness to support production rate changes, timing and sequence of future customer deliveries as well as outcomes of negotiations with customers impacted by the grounding. While these assumptions reflect our best estimate at this time, they are highly uncertain and significantly affect the estimates inherent in our financial statements.

The 737 MAX grounding also affects projected revenues and costs associated with the 737 program accounting quantity. As a result of the grounding, we have reduced the 737 production rate from 52 per month to 42 per month and continue to evaluate further reductions in production rate, including a temporary shutdown in 737 production. Prior to the grounding, we had planned to increase the production rate to 57 per month in 2019. The FAA and other non-U.S. civil aviation authorities will determine the timing and conditions of the 737 MAX’s return to service. At September 30, 2019, we have assumed that regulatory approval of 737 MAX return to service begins in the fourth quarter of 2019. We have further assumed a gradual increase in the production rate from 42 per month to 57 per month by late 2020, and that deliveries of 737 MAX airplanes produced during the grounding and included within inventory will be delivered over several quarters with the majority of them delivering in the first year. The resulting impacts increased estimated costs to produce aircraft included in the current accounting quantity by $3,636 million and $872 million in the nine and three months ended September 30, 2019. These increases in the costs to produce aircraft in the current accounting quantity will reduce 737 program and overall BCA segment operating margins in future quarters after deliveries resume. If the timing and conditions surrounding a return to service differ from our assumptions, it could have a material effect on our financial statements.

We recorded an earnings charge of $5,610 million, net of insurance recoveries of $500 million, in the second quarter in connection with an estimate of potential concessions and other considerations to customers for disruptions related to the 737 MAX grounding and associated delivery delays. This charge represents our current best estimate of future concessions and other considerations we expect to provide to customers. This estimate relies on the exercise of judgment by management and is significantly impacted by the assumptions described above, as well as the status of negotiations with our customers. Any delays in return to service, further disruptions to our production system, supplier claims or assertions, or changes to estimated concessions and other considerations we expect to provide to customers could have a material adverse effect on our financial position, results of operations, and/or cash flows.

Item 3. Quantitative and Qualitative Disclosures About Market Risk

There have been no significant changes to our market risk since December 31, 2018.

Item 4. 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 September 30, 2019 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)Changes in Internal Control Over Financial Reporting.

There were no changes that occurred during the third quarter of 2019 that have materially affected or are reasonably likely to materially affect our internal control over financial reporting.

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Part II. Other Information

Item 1. Legal Proceedings

Currently, we are involved in a number of legal proceedings. For a discussion of contingencies related to legal proceedings, see Note 19 to our Condensed Consolidated Financial Statements, which is hereby incorporated by reference.

Item 1A. Risk Factors

Certain risks described below update the risk factors in Part I, Item 1A. Risk Factors in our Annual Report on Form 10-K for the year ended December 31, 2018.

The 737 MAX fleet is currently grounded, and we are subject to a number of risks and uncertainties related to the timing and conditions surrounding the aircraft’s return to service, including potential future reductions to the production rate and/or additional delivery delays, as well as risks associated with assumptions and estimates made in our financial statements regarding the 737 program.

On March 13, 2019, the Federal Aviation Administration (FAA) issued an order to suspend operations of all 737 MAX aircraft in the U.S. and by U.S. aircraft operators following two fatal 737 MAX accidents. Non-U.S. civil aviation authorities have issued directives to the same effect. We are working closely with the relevant government authorities to support both accident investigations and are fully cooperating with other U.S. government investigations related to the accidents. Multiple legal actions have also been filed against us as a result of the accidents. While production continues on the 737 MAX, deliveries have been suspended until clearance is granted by the appropriate regulatory authorities. The grounding has reduced revenues, operating margins, and cash flows, and will continue to do so until deliveries resume and production rates increase. In connection with the effort to return the 737 MAX to service, we have developed software updates for the 737 MAX, together with an associated pilot training and supplementary education program. We continue to work with the FAA and non-U.S. civil aviation authorities to complete remaining steps toward certification and readiness for return to service, including addressing their questions on the software updates and how pilots will interact with the airplane controls and displays in different flight scenarios. The FAA and other civil aviation authorities worldwide will determine the timing and conditions of return to service in each relevant jurisdiction. Any unanticipated delays in certification and/or return to service or other liabilities associated with the accidents or grounding could have a material adverse effect on our financial position, results of operations, and/or cash flows.

On April 5, 2019, we announced plans to reduce the 737 production rate from 52 aircraft per month to 42 per month effective April 15, 2019. In addition to being unable to deliver completed aircraft until the required certifications are obtained, impacts related to the reduced production rate have increased costs to produce aircraft included in the current accounting quantity and will result in reduced 737 program and overall BCA segment operating margins when deliveries resume. If we are unable to return the 737 MAX aircraft to service in one or more jurisdictions or begin deliveries to customers in a timely manner, we would incur additional costs and/or further reduce the 737 production rate. In addition, unanticipated delays in certification and/or return to service of the 737 MAX in one or more jurisdictions could result in significant additional disruption to the 737 production system, including further reductions in the production rate and/or a temporary shutdown in 737 production, delaying efforts to restore and/or implement previously planned increases in the 737 production rate. Cash flows could also be negatively impacted through a combination of delayed payments from customers and higher costs and inventory levels. In addition, we have experienced claims and assertions from customers in connection with the grounding, and we recorded an earnings charge of $5,610, net of insurance recoveries of $500, in the second quarter in connection with an estimate of potential concessions and other considerations to customers for disruptions related to the grounding and associated delivery delays. Any such delays in return to service, further disruptions to our production system, supplier claims or assertions, or changes to estimated concessions or other considerations we expect to provide to customers could have a material adverse effect on our financial position, results of operations, and/or cash flows. The FAA and other civil aviation authorities worldwide will determine the timing and conditions of return to service in each relevant jurisdiction. However, we have assumed that regulatory approval of 737 MAX return to service

56

begins in the fourth quarter of 2019. This assumption reflects our best estimate at this time based on factors such as the estimated duration of the certification process. In the event of unanticipated additional training requirements in one or more jurisdictions, delays in the certification process, and/or delays in return to service, we may be required to take actions with longer-term impact, such as further production rate changes, employment reductions and/or the expenditure of significant resources to support our supply chain and/or customers.

As with our other commercial aircraft programs, we have made significant estimates with respect to the 737 program regarding the number of units to be produced, the period during which those units are likely to be produced, and the units’ expected sales prices, production costs, program tooling and other non-recurring costs, and routine warranty costs. In addition to the estimated timing of return to service, we have made assumptions regarding outcomes of accident investigations, timing of future 737 production rate increases, timing and sequence of future deliveries, as well as outcomes of negotiations with customers. Any changes in these estimates and/or assumptions with respect to the 737 program could have a material impact on our financial position, results of operations, and/or cash flows. For additional information, see our discussion under “Management’s Discussion and Analysis-Critical Accounting Policies and Estimates-737 MAX Grounding” on page 54.

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds

Issuer Purchases of Equity Securities

The following table provides information about purchases we made during the quarter ended September 30, 2019 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)
7/1/2019 thru 7/31/2019	2,431		$342.59			$17,349
8/1/2019 thru 8/31/2019	5,814	348.78			17,349
9/1/2019 thru 9/30/2019	1,288	357.89			17,349
Total	9,533		$348.43

⁽¹⁾  We purchased 9,533 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 any shares of our common stock in the open market pursuant to our repurchase program or in swap transactions.

⁽²⁾  On December 17, 2018, we announced a new repurchase plan for up to $20 billion of common stock, replacing the plan previously authorized in 2017. Share repurchases under this plan are currently suspended.

Item 3. Defaults Upon Senior Securities

Not applicable.

Item 4. Mine Safety Disclosures

Not applicable.

Item 5. Other Information

Not applicable.

57

Item 6. Exhibits

10	Summary of Nonemployee Director Compensation
15	Letter from Independent Registered Public Accounting Firm regarding unaudited interim financial information
31.1	Certification of Chief Executive Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002
31.2	Certification of Chief Financial Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002
32.1	Certification of Chief Executive Officer pursuant to Section 906 of the Sarbanes-Oxley Act of 2002
32.2	Certification of Chief Financial Officer pursuant to Section 906 of the Sarbanes-Oxley Act of 2002
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

* Management contract or compensatory plan

58

Signature

Pursuant to the requirements 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.

	THE BOEING COMPANY
	(Registrant)
October 23, 2019	/s/ Robert E. Verbeck
(Date)	Robert E. Verbeck – Senior Vice President, Finance and Corporate Controller

59

EX-10

EXHIBIT 10

Summary of Nonemployee Director Compensation

On August 26, 2019, the Board of Directors of The Boeing Company (the “Company”) approved an annual retainer fee for the chair of the newly established Aerospace Safety Committee of $50,000 effective as of April 4, 2019 (so as to include service as chair of its temporary predecessor committee). The remaining components of nonemployee director compensation remain unchanged from the amounts described in the Company’s proxy statement for its 2019 annual meeting of shareholders.

COMPENSATION OF NONEMPLOYEE DIRECTORS

Annual Cash Retainer	$135,000
Annual Retainer in Deferred Stock Units	$200,000
Lead Director Annual Retainer	$35,000
Aerospace Safety Committee Chair Annual Retainer	$50,000
Audit Committee Chair Annual Retainer	$25,000
Compensation Committee Chair Annual Retainer	$20,000
Governance, Organization and Nominating Committee Chair Annual Retainer	$20,000
Finance Committee Chair Annual Retainer	$20,000
Special Programs Committee Chair Annual Retainer	$15,000

EX-15

EXHIBIT 15

LETTER IN LIEU OF CONSENT FOR REVIEW REPORT

October 23, 2019

To the Board of Directors and Shareholders of

The Boeing Company

Chicago, Illinois

We have reviewed, in accordance with the standards of the Public Company Accounting Oversight Board (United States), the unaudited interim financial information of The Boeing Company and subsidiaries for the periods ended September 30, 2019 and 2018, as indicated in our report dated October 23, 2019; because we did not perform an audit, we expressed no opinion on that information.

We are aware that our report referred to above, which is included in your Quarterly Report on Form 10-Q for the quarter ended September 30, 2019, is incorporated 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, 333-195777, and 333-228097 on Form S-8, and Registration Statement No. 333-219630 on Form S-3.

We also are aware that the aforementioned report, pursuant to Rule 436(c) under the Securities Act of 1933, is not considered a part of the Registration Statement prepared or certified by an accountant or a report prepared or certified by an accountant within the meaning of Sections 7 and 11 of that Act.

/s/ Deloitte & Touche LLP

Chicago, Illinois

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 quarterly report on Form 10-Q 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: October 23, 2019

/s/ Dennis A. Muilenburg

Dennis A. Muilenburg

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 quarterly report on Form 10-Q 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: October 23, 2019

/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 Quarterly Report of The Boeing Company (the “Company”) on Form 10-Q for the period ending September 30, 2019, as filed with the Securities and Exchange Commission on the date hereof (the “Report”), I, Dennis A. Muilenburg, 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

President and Chief Executive Officer

October 23, 2019

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 Quarterly Report of The Boeing Company (the “Company”) on Form 10-Q for the period ending September 30, 2019, 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

October 23, 2019

XML

Customer Financing (Financing Receivable Credit Quality Indicators) (Details) - USD ($) $ in Millions	Sep. 30, 2019	Dec. 31, 2018
Financing Receivable, Credit Quality Indicator [Line Items]
Carrying value of financing receivables	$ 1,462	$ 1,855
BBB Credit Rating [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Carrying value of financing receivables	594	883
BB Credit Rating [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Carrying value of financing receivables	348	430
B Credit Rating [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Carrying value of financing receivables	125	135
CCC Credit Rating [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Carrying value of financing receivables	$ 395	$ 407

XML

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		9 Months Ended
		Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Earnings Per Share [Abstract]
Net earnings		$ 1,167	$ 2,363	$ 374	$ 7,036
Undistributed Earnings (Loss) Allocated to Participating Securities, Basic		1	2		5
Net earnings available to common shareholders		$ 1,166	$ 2,361	$ 374	$ 7,031
Basic weighted average shares outstanding		565.2	574.8	566.2	582.7
Participating securities		0.6	0.6	0.6	0.7
Basic weighted average common shares outstanding		564.6	574.2	565.6	582.0
Basic weighted average shares outstanding		565.2	574.8	566.2	582.7
Dilutive potential common shares	[1]	4.0	6.0	4.2	6.2
Diluted weighted average shares outstanding		569.2	580.8	570.4	588.9
Participating securities		0.6	0.6	0.6	0.7
Diluted weighted average common shares outstanding		568.6	580.2	569.8	588.2
Earnings Per Share, Basic		$ 2.07	$ 4.11	$ 0.66	$ 12.08
Earnings Per Share, Diluted		$ 2.05	$ 4.07	$ 0.66	$ 11.95

[1] Diluted earnings per share includes any dilutive impact of stock options, restricted stock units, performance-based restricted stock units and performance awards.

XML

Inventories (Inventory Disclosure Table) (Details) - USD ($) $ in Millions	Sep. 30, 2019	Dec. 31, 2018
Inventory Disclosure [Abstract]
Long-term contracts in progress	$ 966	$ 2,129
Commercial aircraft programs	63,518	52,753
Commercial spare parts, used aircraft, general stock materials and other	8,795	7,685
Total	$ 73,279	$ 62,567

XML

Derivative Financial Instruments (Schedule of Derivative Instruments, Notional Amounts and Fair Values) (Details) - USD ($) $ in Millions		Sep. 30, 2019	Dec. 31, 2018
Derivative [Line Items]
Derivative, Notional Amount	[1]	$ 6,064	$ 4,481
Other Assets		27	52
Accrued Liabilities		(216)	(136)
Netting Arrangements, Other Assets		(20)	(24)
Netting Arrangements, Accrued Liabilities		20	24
Net Recorded balance, Other Assets		7	28
Net Recorded balance, Accrued Liabilities		(196)	(112)
Designated as Hedging Instrument [Member] | Foreign Exchange Contract [Member]
Derivative [Line Items]
Derivative, Notional Amount		2,733	3,407
Other Assets		17	32
Accrued Liabilities		(105)	(132)
Designated as Hedging Instrument [Member] | Interest Rate Contract [Member]
Derivative [Line Items]
Derivative, Notional Amount		125	125
Designated as Hedging Instrument [Member] | Commodity Contract [Member]
Derivative [Line Items]
Derivative, Notional Amount		669	57
Other Assets		4	9
Accrued Liabilities		(93)	(2)
Not Designated as Hedging Instrument [Member] | Foreign Exchange Contract [Member]
Derivative [Line Items]
Derivative, Notional Amount		824	414
Other Assets		6	11
Accrued Liabilities		(18)	(2)
Not Designated as Hedging Instrument [Member] | Commodity Contract [Member]
Derivative [Line Items]
Derivative, Notional Amount		$ 1,713	$ 478

[1] Notional amounts represent the gross contract/notional amount of the derivatives outstanding.

XML

Reconciliation of Assets from Segment to Consolidated (Details) - USD ($) $ in Millions	Sep. 30, 2019	Dec. 31, 2018
Segment Reporting Information [Line Items]
Assets	$ 132,598	$ 117,359
Operating Segments [Member] | Commercial Airplanes [Member]
Segment Reporting Information [Line Items]
Assets	74,994	64,788
Operating Segments [Member] | Defense, Space & Security [Member]
Segment Reporting Information [Line Items]
Assets	19,431	19,594
Operating Segments [Member] | Global Services [Member]
Segment Reporting Information [Line Items]
Assets	18,696	17,921
Operating Segments [Member] | Boeing Capital [Member]
Segment Reporting Information [Line Items]
Assets	2,246	2,809
Unallocated items, eliminations and other [Member]
Segment Reporting Information [Line Items]
Assets	$ 17,231	$ 12,247

XML

Fair Value Measurements Fair Values And Related Carrying Values of Financial Instruments (Details) - USD ($) $ in Millions	Sep. 30, 2019	Dec. 31, 2018
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Notes receivable, Fair value	$ 451	$ 735
Debt, excluding capital lease obligations, Fair value	(24,518)	(12,746)
Level 2 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Notes receivable, Fair value	451	735
Debt, excluding capital lease obligations, Fair value	(24,480)	(12,682)
Level 3 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt, excluding capital lease obligations, Fair value	(38)	(64)
Carrying Amount [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Notes receivable, net Carrying amount	446	730
Debt, excluding capital lease obligations, Carrying amount	$ (21,432)	$ (11,796)

XML

Postretirement Plans (Net Periodic Benefit Cost Tables) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Pension Plan [Member]
Defined Benefit Plan Disclosure [Line Items]
Service cost		$ 107	$ 2	$ 322
Interest cost	731	696	2,193	2,086
Expected return on plan assets	(966)	(1,002)	(2,896)	(3,007)
Amortization of prior service credits	(19)	(14)	(59)	(42)
Recognized net actuarial loss	161	282	482	847
Defined Benefit Plan, Net Periodic Benefit Cost (Credit), Gain (Loss) Due to Settlement and Curtailment				(43)
Defined Benefit Plan, Net Periodic Benefit Cost (Credit)	(93)	69	(278)	249
Other Postretirement Benefits Plan [Member]
Defined Benefit Plan Disclosure [Line Items]
Service cost	19	24	58	71
Interest cost	49	48	147	145
Expected return on plan assets	(2)	(2)	(6)	(6)
Amortization of prior service credits	(8)	(31)	(26)	(94)
Recognized net actuarial loss	(12)	(3)	(35)	(8)
Defined Benefit Plan, Net Periodic Benefit Cost (Credit)	46	36	138	108
Operating Income (Loss) [Member] | Pension Plan [Member]
Defined Benefit Plan Disclosure [Line Items]
Net periodic benefit cost included in Earnings from operations	76	79	234	237
Operating Income (Loss) [Member] | Other Postretirement Benefits Plan [Member]
Defined Benefit Plan Disclosure [Line Items]
Net periodic benefit cost included in Earnings from operations	21	21	66	63
Other Income [Member] | Pension Plan [Member]
Defined Benefit Plan Disclosure [Line Items]
Net periodic benefit cost included in Earnings from operations	(93)	(50)	(280)	(98)
Other Income [Member] | Other Postretirement Benefits Plan [Member]
Defined Benefit Plan Disclosure [Line Items]
Net periodic benefit cost included in Earnings from operations	27	29	80	77
Operating Income (Loss) Before Taxes [Member] | Pension Plan [Member]
Defined Benefit Plan Disclosure [Line Items]
Net periodic benefit cost included in Earnings from operations	(17)	29	(46)	139
Operating Income (Loss) Before Taxes [Member] | Other Postretirement Benefits Plan [Member]
Defined Benefit Plan Disclosure [Line Items]
Net periodic benefit cost included in Earnings from operations	$ 48	$ 50	$ 146	$ 140

XML

Acquisitions and Joint Ventures Acquistions and Joint Ventures

9 Months Ended

Sep. 30, 2019

Acquisitions and Joint Ventures [Abstract]

Acquisitions and Joint Ventures

Acquisitions and Joint Ventures

Strategic Partnership with Embraer

During the first quarter of 2019, we entered into definitive transaction documents with respect to a strategic partnership with Embraer S.A. (Embraer). The partnership contemplates that the parties enter into a joint venture comprising the commercial aircraft and services operations of Embraer, in which Boeing will acquire an 80 percent ownership stake for $4,200, as well as a joint venture to promote and develop new markets for the multi-mission medium airlift KC-390, in which Boeing will hold a 49 percent ownership stake. Embraer shareholders approved the transaction, which remains subject to regulatory approvals and other customary closing conditions. We are actively engaged with authorities in relevant jurisdictions and have obtained a number of regulatory approvals, including clearance to close in the United States. In October 2019, the European Commission commenced a Phase II investigation in connection with its regulatory review of the transaction, and the transaction is now expected to close in early 2020. If the transaction is not completed due to failure to obtain antitrust approvals, we would be required to pay a termination fee of $100.

XML

Customer Financing

9 Months Ended

Sep. 30, 2019

Customer Financing [Abstract]

Customer Financing

Customer Financing

Customer financing primarily relates to the Boeing Capital (BCC) segment and consisted of the following:

	September 30 2019			December 31 2018
Financing receivables:
Investment in sales-type/finance leases		$1,016			$1,125
Notes	446			730
Total financing receivables	1,462			1,855
Operating lease equipment, at cost, less accumulated depreciation of $245 and $203	789			782
Operative lease incentive				250
Gross customer financing	2,251			2,887
Less allowance for losses on receivables	(8		)	(9		)
Total		$2,243			$2,878

We acquire aircraft to be leased to customers through trades, lease returns, purchases in the secondary market, and new aircraft transferred from our Commercial Airplanes segment. Leasing arrangements typically range in terms from 1 to 12 years and may include options to extend or terminate the lease. Certain leases include provisions to allow the lessee to purchase the underlying aircraft at a specified price. A minority of leases contain variable lease payments based on actual aircraft usage and are paid in arrears.

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 September 30, 2019 and December 31, 2018, we individually evaluated for impairment customer financing receivables of $401 and $409, of which $388 and $398 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.

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 by internal credit rating category are shown below: 

Rating categories	September 30 2019		December 31 2018
BBB		$594		$883
BB	348		430
B	125		135
CCC	395		407
Total carrying value of financing receivables		$1,462		$1,855

At September 30, 2019, our allowance related to receivables with ratings of B, BB and BBB. We applied default rates that averaged 22.1%, 5.8% and 0.6%, respectively, 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 out-of-production aircraft and 747-8 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:

	September 30 2019		December 31 2018
717 Aircraft ($184 and $204 accounted for as operating leases)		$778		$918
747-8 Aircraft ($130 and $132 accounted for as operating leases)	474		477
737 Aircraft ($243 and $263 accounted for as operating leases)	266		290
757 Aircraft ($22 and $24 accounted for as operating leases)	186		200
MD-80 Aircraft (accounted for as sales-type finance leases)	184		204
777 Aircraft ($126 and $60 accounted for as operating leases)	131		68
747-400 Aircraft ($33 and $45 accounted for as operating leases)	95		116

As part of selected lease transactions, Boeing may provide incentives to commercial customers. At December 31, 2018, Customer Financing included $250 of lease incentives with one customer experiencing liquidity issues. In the first quarter of 2019, we concluded that these lease incentives were impaired and recorded a charge of $250.

Lease income recorded in Revenue on the Condensed Consolidated Statements of Operations for the nine and three months ended September 30, 2019 included $47 and $15 from sales-type/finance leases and $105 and $34 from operating leases, of which $14 and $6 related to variable operating lease payments.

As of September 30, 2019, undiscounted cash flows for sales-type/finance and operating leases over the next five years and thereafter are as follows:

	Sales-type/finance leases			Operating leases
Year 1		$179			$118
Year 2	134			93
Year 3	97			83
Year 4	109			61
Year 5	121			46
Thereafter	140			57
Total lease receipts	780			458
Less imputed interest	(167		)
Estimated unguaranteed residual values	403
Total		$1,016			$458

At September 30, 2019 and December 31, 2018 unguaranteed residual values were $403 and $425. Guaranteed residual values at September 30, 2019 were not significant.

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Condensed Consolidated Statements of Comprehensive Income - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Statement of Comprehensive Income [Abstract]
Net earnings	$ 1,167	$ 2,363	$ 374	$ 7,036
Currency translation adjustments	(59)	2	(61)	(55)
Unrealized gain/(loss) on certain investments, net of tax of $0, $0, ($1) and $0			1	3
Unrealized (loss)/gain on derivative instruments [Abstract]
Unrealized (loss)/gain arising during period, net of tax of $1, ($22), $27 and ($61)	(89)	(4)	(106)	(97)
Reclassification adjustment for losses included in net earnings, net of tax of ($3), ($5), ($5) and ($24)	25	9	22	19
Total unrealized (loss)/gain on derivative instruments, net of tax	(64)	5	(84)	(78)
Defined benefit pension plans & other postretirement benefits [Abstract]
Amortization of prior service credits included in net periodic pension cost, net of tax of $10, $16, $30 and $47	(22)	(35)	(67)	(106)
Net actuarial gain arising during the period, net of tax of $0, $0, $0 and $0				1
Amortization of actuarial losses included in net periodic pension cost, net of tax of ($60), ($72), ($182) and ($217)	117	219	350	657
Settlements and curtailments included in net income, net of tax of $0, ($3), $0 and $0				6
Pension and postretirement cost related to our equity method investments, net of tax of $0, $0, $1 and $1	9	(1)	17	(4)
Total defined benefit pension plans and other postretirement benefits, net of tax	104	183	300	554
Other comprehensive income/(loss), net of tax	(19)	190	156	424
Comprehensive loss related to noncontrolling interests	(15)	(2)	(22)	(12)
Comprehensive income, net of tax	$ 1,133	$ 2,551	$ 508	$ 7,448

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Condensed 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]
Balance at Dec. 31, 2017	$ 1,713	$ 5,061	$ 6,804	$ (43,454)	$ 49,618	$ (16,373)	$ 57
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest	7,024				7,036		(12)
Other comprehensive income, net of tax of ($133) in 2018 and ($255) in 2017	424					424
Share-based compensation and related dividend equivalents	150		167		(17)
Treasury shares issued for stock options exercised, net	70		(37)	107
Treasury shares issued for other share-based plans, net	(239)		(220)	(19)
Common shares repurchased	(8,415)			(8,415)
Dividends, Common Stock, Cash	(1,971)				(1,971)
Changes in noncontrolling interests	35						35
Balance at Sep. 30, 2018	(1,209)	5,061	6,714	(51,781)	54,666	(15,949)	80
Balance at Jun. 30, 2018	(1,374)	5,061	6,676	(49,342)	52,303	(16,139)	67
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest	2,361				2,363		(2)
Other comprehensive income, net of tax of ($133) in 2018 and ($255) in 2017	190					190
Share-based compensation and related dividend equivalents	52		52
Treasury shares issued for stock options exercised, net	7		(5)	12
Treasury shares issued for other share-based plans, net	(10)		(9)	(1)
Common shares repurchased	(2,450)			(2,450)
Changes in noncontrolling interests	15						15
Balance at Sep. 30, 2018	(1,209)	5,061	6,714	(51,781)	54,666	(15,949)	80
Balance at Dec. 31, 2018	410	5,061	6,768	(52,348)	55,941	(15,083)	71
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest	352				374		(22)
Other comprehensive income, net of tax of ($133) in 2018 and ($255) in 2017	156					156
Share-based compensation and related dividend equivalents	160		176		(16)
Treasury shares issued for stock options exercised, net	40		(42)	82
Treasury shares issued for other share-based plans, net	(221)		(214)	(7)
Common shares repurchased	(2,651)			(2,651)
Dividends, Common Stock, Cash	(2,313)				(2,313)
Changes in noncontrolling interests	258						258
Balance at Sep. 30, 2019	(3,809)	5,061	6,688	(54,924)	53,986	(14,927)	307
Balance at Jun. 30, 2019	(4,943)	5,061	6,638	(54,932)	52,819	(14,908)	379
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest	1,152				1,167		(15)
Other comprehensive income, net of tax of ($133) in 2018 and ($255) in 2017	(19)					(19)
Share-based compensation and related dividend equivalents	56		56
Treasury shares issued for stock options exercised, net	(3)		(3)
Treasury shares issued for other share-based plans, net	5		(3)	8
Changes in noncontrolling interests	(57)						(57)
Balance at Sep. 30, 2019	$ (3,809)	$ 5,061	$ 6,688	$ (54,924)	$ 53,986	$ (14,927)	$ 307

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Earnings Per Share (Tables)

9 Months Ended

Sep. 30, 2019

Earnings Per Share [Abstract]

Earnings Per Share [Text Block]

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)	Nine months ended September 30				Three months ended September 30
	2019		2018		2019		2018
Net earnings		$374		$7,036		$1,167		$2,363
Less: earnings available to participating securities			5		1		2
Net earnings available to common shareholders		$374		$7,031		$1,166		$2,361
Basic
Basic weighted average shares outstanding	566.2		582.7		565.2		574.8
Less: participating securities	0.6		0.7		0.6		0.6
Basic weighted average common shares outstanding	565.6		582.0		564.6		574.2
Diluted
Basic weighted average shares outstanding	566.2		582.7		565.2		574.8
Dilutive potential common shares(1)	4.2		6.2		4.0		6.0
Diluted weighted average shares outstanding	570.4		588.9		569.2		580.8
Less: participating securities	0.6		0.7		0.6		0.6
Diluted weighted average common shares outstanding	569.8		588.2		568.6		580.2
Net earnings per share:
Basic		$0.66		$12.08		$2.07		$4.11
Diluted	0.66		11.95		2.05		4.07

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

(Shares in millions)	Nine months ended September 30		Three months ended September 30
	2019	2018	2019	2018
Performance awards	2.6	2.6	2.6	2.2
Performance-based restricted stock units	0.6	0.3	0.6	0.2

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)	Nine months ended September 30				Three months ended September 30
	2019		2018		2019		2018
Net earnings		$374		$7,036		$1,167		$2,363
Less: earnings available to participating securities			5		1		2
Net earnings available to common shareholders		$374		$7,031		$1,166		$2,361
Basic
Basic weighted average shares outstanding	566.2		582.7		565.2		574.8
Less: participating securities	0.6		0.7		0.6		0.6
Basic weighted average common shares outstanding	565.6		582.0		564.6		574.2
Diluted
Basic weighted average shares outstanding	566.2		582.7		565.2		574.8
Dilutive potential common shares(1)	4.2		6.2		4.0		6.0
Diluted weighted average shares outstanding	570.4		588.9		569.2		580.8
Less: participating securities	0.6		0.7		0.6		0.6
Diluted weighted average common shares outstanding	569.8		588.2		568.6		580.2
Net earnings per share:
Basic		$0.66		$12.08		$2.07		$4.11
Diluted	0.66		11.95		2.05		4.07

⁽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

(Shares in millions)	Nine months ended September 30		Three months ended September 30
	2019	2018	2019	2018
Performance awards	2.6	2.6	2.6	2.2
Performance-based restricted stock units	0.6	0.3	0.6	0.2

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Customer Financing Customer Financing (Policies)

9 Months Ended

Sep. 30, 2019

Customer Financing [Abstract]

Impaired Financing Receivable, Policy [Policy Text Block]

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.

Financing Receivable, Allowance for Credit Losses, Policy for Uncollectible Amounts [Policy Text Block]

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.

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Leases Leases (Tables)

9 Months Ended

Sep. 30, 2019

Leases [Abstract]

Lessee, Operating Leases [Text Block]

Supplemental Condensed Consolidated Statement of Financial Position information related to leases was as follows:

	September 30 2019
Operating leases:
Operating lease right-of-use assets		$1,178
Current portion of lease liabilities	260
Non-current portion of lease liabilities	969
Total operating lease liabilities		$1,229
Weighted average remaining lease term (years)	9
Weighted average discount rate	3.07		%

Lessee, Operating Lease, Liability, Maturity [Table Text Block]

Maturities of lease liabilities were as follows:

	Operating leases
Year 1		$292
Year 2	238
Year 3	190
Year 4	153
Year 5	93
Thereafter	598
Total lease payments	1,564
Less imputed interest	(335		)
Total		$1,229

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Legal Proceedings

9 Months Ended

Sep. 30, 2019

Legal Proceedings [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. Where it is reasonably possible that we will incur losses in excess of recorded amounts in connection with any of the matters set forth below, we will disclose either the amount or range of reasonably possible losses in excess of such amounts or, where no such amount or range can be reasonably estimated, the reasons why no such estimate can be made.

Multiple legal actions have been filed against us as a result of the October 29, 2018 accident of Lion Air Flight 610 and the March 10, 2019 accident of Ethiopian Airlines Flight 302. Further, we are fully cooperating with all ongoing governmental and regulatory investigations and inquiries relating to the accidents and the 737 MAX. We cannot reasonably estimate a range of loss, if any, not covered by available insurance that may result given the ongoing status of these lawsuits, investigations, and inquiries.

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Commitments And Contingencies

9 Months Ended

Sep. 30, 2019

Commitments and Contingencies Disclosure [Abstract]

Commitments And Contingencies

Commitments and Contingencies

737 MAX Grounding

On March 13, 2019, the Federal Aviation Administration (FAA) issued an order to suspend operations of all 737 MAX aircraft in the U.S. and by U.S. aircraft operators following two fatal 737 MAX accidents. Non-U.S. civil aviation authorities have issued directives to the same effect. We are working closely with the relevant government authorities to support both accident investigations. We are also fully cooperating with other U.S. government investigations related to the accidents. While production continues on the 737 MAX, deliveries have been suspended until clearance is granted by the appropriate regulatory authorities.

We have developed software and training updates for the 737 MAX and continue to work with the FAA and non-U.S. civil aviation authorities to complete remaining steps toward certification and readiness for return to service including addressing their questions on the software changes and how pilots will interact with the airplane controls and displays in different flight scenarios. The FAA and other civil aviation authorities worldwide will determine the timing and conditions of return to service in each relevant jurisdiction. Charges recognized during 2019 associated with the software updates and related pilot training were not material.

Prior to the grounding, Boeing had delivered 387 737 MAX aircraft of which 57 were delivered in the first quarter of 2019. On April 5, 2019, we announced plans to reduce the 737 production rate from 52 aircraft per month to 42 per month effective April 15, 2019. The resulting impacts, which were reflected in the first quarter, increased costs to produce aircraft included in the current accounting quantity by $1,016. Estimated costs to produce aircraft included in the current accounting quantity increased by $1,748 during the second quarter of 2019 and $872 during the third quarter of 2019, primarily to reflect updates to assumptions regarding timing of return to service and timing of planned production rate increases. These increases in the costs to produce aircraft in the current accounting quantity will reduce 737 program and overall BCA segment operating margins in future quarters after deliveries resume. Prior to the grounding, we expected 737 MAX deliveries to approximate 90 percent of total 737 deliveries in 2019 and we had planned to increase the production rate to 57 per month in 2019. In addition to the grounding, the timing of 737 MAX deliveries during the first quarter was adversely affected by delays in the supply chain. We may face additional costs, delays in return to service, and/or further reductions in the production rate. We are continuing to produce at 42 aircraft per month and we will continue to evaluate potential future reductions in the production rate, including a temporary shutdown in 737 production. For example, significant additional regulatory requirements and/or delays in return to service beyond our current assumption could cause customers to cancel or defer orders, which could also cause us to reduce or temporarily cease 737 MAX production. 

The grounding has reduced revenues, operating earnings and cash flows in 2019 and will continue to adversely affect our results until deliveries resume and production rates increase. We are also working with our customers to minimize the impact to their operations. In the second quarter, we recorded an earnings charge of $5,610, net of insurance recoveries of $500, in connection with estimated potential concessions and other considerations to customers for disruptions related to the 737 MAX grounding and associated delivery delays. This charge is reflected in the financial statements as a reduction in revenue, an increase in Other current assets and an increase in Accrued liabilities. During the third quarter of 2019, we collected the anticipated $500 from our insurance carriers and reduced the liability of $6,110 by $252 for payments, concessions and other in-kind considerations agreed to with customers. In addition, we reassessed the liability for estimated potential concessions and other considerations to customers. This reassessment included updating estimates to reflect revised return to service and production rate assumptions, as well as latest information based on engagements with 737 MAX customers. Based on this reassessment, we concluded that no significant adjustments to the recorded liability were required in the third quarter. The liability represents our best estimate of future concessions and other considerations to customers, and is necessarily based on a series of assumptions. While the FAA and other non-U.S. civil aviation authorities will determine the timing and conditions of return to service, we have assumed that regulatory approval of 737 MAX return to service begins in the fourth quarter of 2019. This assumption reflects our best estimate at this time, but actual timing and conditions of return to service could differ from this estimate, the effect of which could be material. In addition, we have assumed that we will gradually increase the 737 production rate from 42 per month to 57 per month by late 2020. Following return to service we expect the 737 MAX

airplanes produced during the grounding and included within inventory will be delivered over several quarters with the majority of them delivering in the first year. We are unable at this time to reasonably estimate potential future additional financial impacts or a range of loss, if any, due to continued uncertainties related to the timing and conditions of return to service, future changes to the production rate, supply chain impacts or the results of negotiations with particular customers. Any such impacts, including any changes in our estimates, could have a material adverse effect on our financial position, results of operations, and/or cash flows. For example, we expect that, in the event that we are unable to resume aircraft deliveries consistent with our assumptions, the continued absence of revenue, earnings, and cash flows associated with 737 MAX deliveries would continue to have the most material impact on our operating results. In the event that we decide to further reduce the 737 production rate or temporarily cease production, we expect that the growth in inventory and other cash flow impacts associated with production would decrease. However, while any such reduction or cessation of production could mitigate the impact of continued production on our liquidity it could significantly increase the overall expected costs to produce aircraft included in the accounting quantity, which would reduce 737 program margins in the future.

737NG Structure (Pickle Fork)

During the third quarter of 2019, we detected cracks in the "pickle forks," a component of the structure connecting the wings to the fuselages, of three 737-800NGs we were converting into freighters. We notified the FAA, which issued a directive requiring that 737NG airplanes with over 30,000 flight cycles be inspected for this condition by October 10, 2019, and that airplanes with over 22,600 flight cycles be inspected over the next 1,000 flight cycles. To date, all airplanes with over 30,000 flight cycles and approximately one third of planes with over 22,600 flights cycles have been inspected and this condition has been found on a small percentage of aircraft, and those aircraft will be repaired. Additional assessments are underway to determine the cause and potential implications of this condition for airplanes with fewer than 22,600 flight cycles. Depending on the results of these assessments, additional inspections or repairs may be required. Charges recognized in the third quarter in connection with estimated repair costs for aircraft with over 22,600 flight cycles were not material. However, we cannot reasonably estimate potential future financial impacts, if any, due to the ongoing nature of the inspections and repairs and pending the completion of investigations into the cause of the condition.

Environmental

The following table summarizes environmental remediation activity during the nine months ended September 30, 2019 and 2018.

	2019			2018
Beginning balance – January 1		$555			$524
Reductions for payments made	(34		)	(17		)
Changes in estimates	61			61
Ending balance – September 30		$582			$568

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 September 30, 2019 and December 31, 2018, the high end of the estimated range of reasonably possible remediation costs exceeded our recorded liabilities by $1,064 and $796.

Product Warranties

The following table summarizes product warranty activity recorded during the nine months ended September 30, 2019 and 2018.

	2019			2018
Beginning balance – January 1		$1,127			$1,211
Additions for current year deliveries	128			176
Reductions for payments made	(166		)	(135		)
Changes in estimates	(7		)	(151		)
Ending balance – September 30		$1,082			$1,101

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 September 30, 2019 have expiration dates from 2019 through 2026. At September 30, 2019, and December 31, 2018 total contractual trade-in commitments were $1,421 and $1,519. As of September 30, 2019 and December 31, 2018, we estimated that it was probable we would be obligated to perform on certain of these commitments with net amounts payable to customers totaling $723 and $522 and the fair value of the related trade-in aircraft was $690 and $485.

Financing Commitments

Financing commitments related to aircraft on order, including options and those proposed in sales campaigns, and refinancing of delivered aircraft, totaled $15,607 and $19,462 as of September 30, 2019 and December 31, 2018. The estimated earliest potential funding dates for these commitments as of September 30, 2019 are as follows:

	Total
October through December 2019		$560
2020	3,104
2021	2,989
2022	1,348
2023	2,169
Thereafter	5,437
		$15,607

As of September 30, 2019, $15,452 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.

Funding Commitments

We have commitments to make additional capital contributions of $246 to joint ventures over the next eight years.

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 $3,598 and $3,761 as of September 30, 2019 and December 31, 2018.

United States Government Defense Environment Overview

The Bipartisan Budget Act (BBA) of 2019 raised the Budget Control Act limits on federal discretionary defense and non-defense spending for fiscal years 2020 and 2021 (FY20 and FY21), reducing budget uncertainty and the risk of sequestration. Although overall funding levels have been agreed to, the timeliness of FY20 funding for government departments and agencies, including the Department of Defense (DoD), the National Aeronautics and Space Administration (NASA) and the Federal Aviation Administration (FAA), remains a risk. The Continuing Resolution (CR), enacted on September 27, 2019, continues federal funding at FY19 appropriations levels through November 21, 2019. Congress and the President must enact either full-year FY20 appropriations bills or an additional CR to fund government departments and agencies beyond November 21, 2019 in order to prevent a future government shutdown.

A government shutdown may impact the Company's operations. 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. Congress may fund FY20 by passing one or more CRs; however, this could restrict the execution of certain program activities and delay new programs or competitions.

There continues to be uncertainty with respect to future program-level appropriations for the U.S. DoD and other government agencies, including NASA. 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 our results of 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, USAF KC-46A Tanker, T-7A Red Hawk (formerly T-X Trainer), VC-25B Presidential Aircraft, MQ-25, 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, we have recorded reach-forward losses on the KC-46A Tanker and we continue to have risk for further losses if we experience further production, technical or quality issues. In addition, in 2018, in connection with winning the T-7A Red Hawk and MQ-25 competitions, we recorded a loss of $400 associated with options for 346 T-7A Red Hawk aircraft and a loss of $291 related to the MQ-25 Engineering, Manufacturing and Development (EMD) contract. Moreover, our 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 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. On September 10, 2018, the USAF authorized an additional 18 aircraft valued at $2.9 billion. On September 27, 2019, the USAF authorized an additional LRIP lot for 15 aircraft valued at $2.6 billion.

At September 30, 2019, we had approximately $304 of capitalized precontract costs and $150 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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Share-Based Compensation And Other Compensation Arrangements

9 Months Ended

Sep. 30, 2019

Share-based Payment Arrangement [Abstract]

Share-Based Compensation And Other Compensation Arrangements

Share-Based Compensation and Other Compensation Arrangements

Restricted Stock Units

On February 25, 2019, we granted to our executives 233,582 restricted stock units (RSUs) as part of our long-term incentive program with a grant date fair value of $428.22 per unit. 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.

Performance-Based Restricted Stock Units

On February 25, 2019, we granted to our executives 214,651 performance-based restricted stock units (PBRSUs) as part of our long-term incentive program with a grant date fair value of $466.04 per unit. Compensation expense for the award is recognized over the three-year performance period based upon the grant date fair value estimated using a Monte-Carlo simulation model. The model used the following assumptions: expected volatility of 23.88% based upon historical stock volatility, a risk-free interest rate of 2.46%, and no expected dividend yield because the units earn dividend equivalents.

Performance Awards

On February 25, 2019, we granted to our executives performance awards as part of our long-term incentive program with a payout based on the achievement of financial goals for the three-year period ending December 31, 2021. At September 30, 2019, the minimum payout amount is $0 and the maximum amount we could be required to pay out is $393.

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Fair Value Measurements (Tables)

9 Months Ended

Sep. 30, 2019

Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]

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.

	September 30, 2019								December 31, 2018
	Total			Level 1		Level 2			Total			Level 1		Level 2
Assets
Money market funds		$1,371			$1,371					$1,737			$1,737
Available-for-sale debt investments:
Commercial paper	146						$146		78						$78
Corporate notes	352					352			420					420
U.S. government agencies	109			109
Other equity investments	10			10					12			12
Derivatives	7					7			28					28
Total assets		$1,995			$1,490		$505			$2,275			$1,749		$526
Liabilities
Derivatives		($196	)				($196	)		($112	)				($112	)
Total liabilities		($196	)				($196	)		($112	)				($112	)

Fair Value, Assets Measured On Nonrecurring Basis Using Unobservable Inputs

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 nine months ended September 30 due to long-lived asset impairment and the fair value and asset classification of the related assets as of the impairment date:

	2019					2018
	Fair Value		Total Losses			Fair Value		Total Losses
Operating lease equipment		$10		($1	)		$45		($16	)
Investments	51		(84		)			(47		)
Property, plant and equipment	41		(4		)
Acquired intangible assets	3		(17		)
Total		$105		($106	)		$45		($63	)

Fair Value, Assets and Liabilities Measured on Nonrecurring Basis, Valuation Techniques [Table Text Block]

For Level 3 assets that were measured at fair value on a nonrecurring basis during the nine months ended September 30, 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	$10	Market approach	Aircraft value publications	$12- $20(1) Median $16
			Aircraft condition adjustments	($6) - $0(2) Net ($6)

⁽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 Condensed Consolidated Statements of Financial Position were as follows:

	September 30, 2019
	Carrying Amount			Total Fair Value			Level 1	Level 2			Level 3
Assets
Notes receivable, net		$446			$451				$451
Liabilities
Debt, excluding capital lease obligations and commercial paper	(21,432		)	(24,518		)		(24,480		)		($38	)

	December 31, 2018
	Carrying Amount			Total Fair Value			Level 1	Level 2			Level 3
Assets
Notes receivable, net		$730			$735				$735
Liabilities
Debt, excluding capital lease obligations and commercial paper	(11,796		)	(12,746		)		(12,682		)		($64	)

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Arrangements With Off-Balance Sheet Risk (Tables)

9 Months Ended

Sep. 30, 2019

Guarantees [Abstract]

Third Party 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
	September 30 2019		December 31 2018		September 30 2019		December 31 2018		September 30 2019	December 31 2018
Contingent repurchase commitments		$1,599		$1,685		$1,599		$1,685
Indemnifications to ULA:
Contributed Delta program launch inventory	30		52
Other Delta contracts	176		176
Credit guarantees	92		106		33		51		16	16

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Acquisitions and Joint Ventures Acquisitions and Joint Ventures (Narrative) (Details) $ in Millions	9 Months Ended
	Sep. 30, 2019 USD ($)
Business Acquisition [Line Items]
Controlling Interest Ownership Percentage After Acquisition	80.00%
Payments to Acquire Interest in Joint Venture	$ 4,200
Joint Venture, Contingent Termination Fee	$ 100
KC-390 [Member]
Business Acquisition [Line Items]
Noncontrolling Interest Ownership Percentage After Acquisition	49.00%

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Other Assets (Narrative) (Details) - USD ($) $ in Millions	Sep. 30, 2019	Dec. 31, 2018
Other Assets [Line Items]
Other assets, net of accumulated amortization	$ 3,275	$ 1,826
Sea Launch Receivables [Member]
Other Assets [Line Items]
Other assets, net of accumulated amortization	244	$ 244
Sea Launch Receivables [Member] | S.P. Koroley Rocket And Space Corporation Energia [Member]
Other Assets [Line Items]
Other assets, net of accumulated amortization	111
Sea Launch Receivables [Member] | PO Yuzhnoye Mashinostroitelny Zavod [Member]
Other Assets [Line Items]
Other assets, net of accumulated amortization	89
Sea Launch Receivables [Member] | KB Yuzhnoye [Member]
Other Assets [Line Items]
Other assets, net of accumulated amortization	$ 44

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Commitments And Contingencies (Narrative) (Details) - USD ($) $ in Millions	3 Months Ended				9 Months Ended		12 Months Ended
	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Sep. 30, 2018	Sep. 30, 2019		Dec. 31, 2016	Sep. 27, 2019	Dec. 31, 2018	Sep. 10, 2018	Jan. 27, 2017	Dec. 31, 2011
Commitments And Contingencies [Line Items]
Document Period End Date					Sep. 30, 2019
Loss Contingency, Range of Possible Loss, Portion Not Accrued	$ 1,064				$ 1,064				$ 796
Letters of Credit Outstanding, Amount	3,598				3,598				3,761
Liabilities, Current	91,846				91,846				81,590
Financing Commitment [Member]
Commitments And Contingencies [Line Items]
Other Commitment	15,607				15,607				19,462
joint venture [Member]
Commitments And Contingencies [Line Items]
Other Commitment	246				246
Total Contractual Trade-In Commitment [Member] | Commercial Aircraft Commitments [Member]
Commitments And Contingencies [Line Items]
Other Commitment	1,421				1,421				1,519
Net Amounts Payable to Customers Related to Probable Contractual Trade-In Commitments [Member] | Commercial Aircraft Commitments [Member]
Commitments And Contingencies [Line Items]
Other Commitment	723				723				522
Fair Value of Trade In Value of Aircraft [Member] | Commercial Aircraft Commitments [Member]
Commitments And Contingencies [Line Items]
Other Commitment	690				690				$ 485
KC-46A Tanker [Member] | Capitalized Precontract Costs [Member]
Commitments And Contingencies [Line Items]
Loss Contingency, Estimate of Possible Loss	304				304
KC-46A Tanker [Member] | Potential Termination Liabilities [Member]
Commitments And Contingencies [Line Items]
Loss Contingency, Estimate of Possible Loss	150				150
KC-46A Tanker [Member] | EMD Contract
Commitments And Contingencies [Line Items]
Contract Value												$ 4,900
KC-46A Tanker [Member] | Low Rate Initial Production [Member]
Commitments And Contingencies [Line Items]
Contract Value2							$ 2,800
KC-46A Tanker [Member] | LRIP 3 [Member]
Commitments And Contingencies [Line Items]
Contract Value											$ 2,100
KC-46A Tanker [Member] | LRIP 4 [Member] [Domain]
Commitments And Contingencies [Line Items]
Contract Value										$ 2,900
KC-46A Tanker [Member] | LRIP 5 [Member] [Domain]
Commitments And Contingencies [Line Items]
Contract Value								$ 2,600
TX-Trainer [Member]
Commitments And Contingencies [Line Items]
Loss on Contracts				$ 400
MQ-25 [Member]
Commitments And Contingencies [Line Items]
Loss on Contracts				$ 291
B-737 [Member]
Commitments And Contingencies [Line Items]
Aircraft Program Costs, Increase	872	$ 1,748	$ 1,016
Operating Segments [Member] | Commercial Airplanes Segment [Member] | B-737-Max [Member]
Commitments And Contingencies [Line Items]
Estimated Insurance Recoveries	500
Proceeds from Insurance Settlement, Operating Activities	500
Operating Segments [Member] | Commercial Airplanes Segment [Member] | Customer Concessions [Member] | B-737-Max [Member]
Commitments And Contingencies [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	(5,610)				(5,610)	[1]
Liabilities, Current	6,110				$ 6,110
Payments, concessions and other in-kind considerations to customers	$ 252

[1] Net of insurance recoveries

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Arrangements With Off-Balance Sheet Risk

9 Months Ended

Sep. 30, 2019

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
	September 30 2019		December 31 2018		September 30 2019		December 31 2018		September 30 2019	December 31 2018
Contingent repurchase commitments		$1,599		$1,685		$1,599		$1,685
Indemnifications to ULA:
Contributed Delta program launch inventory	30		52
Other Delta contracts	176		176
Credit guarantees	92		106		33		51		16	16

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. See Note 5. ULA has yet to consume $30 of contributed inventory.

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, through its subsidiary United Launch Services, 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. The parties have since agreed to engage in alternative dispute resolution, and the court has stayed the litigation pending that process. 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.

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Shareholders' Equity

9 Months Ended

Sep. 30, 2019

Equity [Abstract]

Shareholders' Equity

Shareholders' Equity

Accumulated Other Comprehensive Loss

Changes in Accumulated other comprehensive loss (AOCI) by component for the nine and three months ended September 30, 2019 and 2018 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, 2018		($15	)		($2	)		$54			($16,410	)			($16,373	)
Other comprehensive (loss)/income before reclassifications	(55		)	3			(97		)	(3		)		(152		)
Amounts reclassified from AOCI							19			557			(2)	576
Net current period Other comprehensive (loss)/income	(55		)	3			(78		)	554				424
Balance at September 30, 2018		($70	)		$1			($24	)		($15,856	)			($15,949	)
Balance at January 1, 2019		($101	)					($62	)		($14,920	)			($15,083	)
Other comprehensive (loss)/income before reclassifications	(61		)	1			(106		)	17				(149		)
Amounts reclassified from AOCI							22			283			(2)	305
Net current period Other comprehensive (loss)/income	(61		)	1			(84		)	300				156
Balance at September 30, 2019		($162	)		$1			($146	)		($14,620	)			($14,927	)
Balance at June 30, 2018		($72	)	$1				($29	)		($16,039	)			($16,139	)
Other comprehensive (loss)/income before reclassifications	2						(4		)	(1		)		(3		)
Amounts reclassified from AOCI							9			184			(2)	193
Net current period Other comprehensive (loss)/income	2						5			183				190
Balance at September 30, 2018		($70	)		$1			($24	)		($15,856	)			($15,949	)
Balance at June 30, 2019		($103	)		$1			($82	)		($14,724	)			($14,908	)
Other comprehensive (loss)/income before reclassifications	(59		)				(89		)	9				(139		)
Amounts reclassified from AOCI							25			95			(2)	120
Net current period Other comprehensive (loss)/income	(59		)				(64		)	104				(19		)
Balance at September 30, 2019		($162	)		$1			($146	)		($14,620	)			($14,927	)

⁽¹⁾     Net of tax.

⁽²⁾    Primarily relates to amortization of actuarial losses for the nine and three months ended September 30, 2018 totaling $657 and $219 (net of tax of ($182) and ($60)) and for the nine and three months ended September 30, 2019 totaling $350 and $117 (net of tax of ($97) and ($32)). These are included in the net periodic pension cost.

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Segment and Revenue Information

9 Months Ended

Sep. 30, 2019

Segment Reporting [Abstract]

Segment and Revenue Information

Segment and Revenue Information

Effective at the beginning of 2019, all revenues and costs associated with military derivative aircraft production are reported in the BDS segment. Revenues and costs associated with military derivative aircraft production were previously reported in the BCA and BDS segments. Business segment data for 2018 reflects the realignment for military derivative aircraft, as well as the realignment of certain programs from BDS to BGS.

Our primary profitability measurements to review a segment’s operating results are Earnings from operations and operating margins. We operate in four reportable segments: BCA, BDS, BGS, and BCC. All other activities fall within Unallocated items, eliminations and other. See page 7 for the Summary of Business Segment Data, which is an integral part of this note.

BCA develops, produces and markets commercial jet aircraft principally to the commercial airline industry worldwide. Revenue on commercial aircraft contracts is recognized at the point in time when an aircraft is completed and accepted by the customer.

BDS engages 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. BDS revenue is generally recognized over the contract term (over time) as costs are incurred.

BGS provides parts, maintenance, modifications, logistics support, training, data analytics and information-based services to commercial and government customers worldwide. BGS segment revenue and costs include certain services provided to other segments. Revenue on commercial spare parts contracts is recognized at the point in time when a spare part is delivered to the customer. Revenue on other contracts is generally recognized over the contract term (over time) as costs are incurred.

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

The following tables present BCA, BDS and BGS revenues from contracts with customers disaggregated in a number of ways, such as geographic location, contract type and the method of revenue recognition. We believe these best depict how the nature, amount, timing and uncertainty of our revenues and cash flows are affected by economic factors.

BCA revenues by customer location consist of the following:

(Dollars in millions)	Nine months ended September 30						Three months ended September 30
	2019			2018			2019			2018
Revenue from contracts with customers:
Europe		$3,944			$7,189			$1,260			$1,882
China	4,393			9,433			1,237			4,677
Asia, other than China	5,832			5,966			1,454			1,886
Middle East	2,926			3,931			1,121			1,598
Other	2,533			3,598			166			1,098
Total non-U.S. revenues	19,628			30,117			5,238			11,141
United States	10,591			10,824			3,004			2,922
Estimated potential concessions and other considerations to 737 MAX customers, net(1)	(5,610		)
Total revenues from contracts with customers	24,609			40,941			8,242			14,063
Intersegment revenues eliminated on consolidation	184			27			7			8
Total segment revenues		$24,793			$40,968			$8,249			$14,071
Revenue recognized on fixed-price contracts	100		%	100		%	100		%	100		%
Revenue recognized at a point in time	100		%	100		%	100		%	99		%

⁽¹⁾  Net of insurance recoveries

BDS revenues on contracts with customers, based on the customer's location, consist of the following:

(Dollars in millions)	Nine months ended September 30						Three months ended September 30
	2019			2018			2019			2018
Revenue from contracts with customers:
U.S. customers		$15,234			$14,586			$5,459			$5,381
Non U.S. customers(1)	5,031			4,932			1,583			1,556
Total segment revenue from contracts with customers		$20,265			$19,518			$7,042			$6,937
Revenue recognized over time	98		%	98		%	97		%	98		%
Revenue recognized on fixed-price contracts	69		%	69		%	70		%	70		%
Revenue from the U.S. government(1)	89		%	88		%	90		%	88		%

⁽¹⁾  Includes revenues earned from foreign military sales through the U.S. government.

BGS revenues consist of the following:

(Dollars in millions)	Nine months ended September 30						Three months ended September 30
	2019			2018			2019			2018
Revenue from contracts with customers:
Commercial		$7,621			$6,419			$2,510			$2,167
Government	6,075			5,584			2,101			1,882
Total revenues from contracts with customers	13,696			12,003			4,611			4,049
Intersegment revenues eliminated on consolidation	124			145			47			52
Total segment revenues		$13,820			$12,148			$4,658			$4,101
Revenue recognized at a point in time	56		%	52		%	54		%	52		%
Revenue recognized on fixed-price contracts	89		%	88		%	90		%	85		%
Revenue from the U.S. government(1)	33		%	32		%	35		%	32		%

⁽¹⁾  Includes revenues earned from foreign military sales through the U.S. government.

Backlog

Our total backlog represents the estimated transaction prices on performance obligations to our customers for which work remains to be performed. Backlog is converted into revenue in future periods as work is performed, primarily based on the cost incurred or at delivery and acceptance of products, depending on the applicable accounting method.

Our backlog at September 30, 2019 was $470,225. We expect approximately 26% to be converted to revenue through 2020 and approximately 72% through 2023, with the remainder thereafter.

Unallocated Items, Eliminations and other

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. Such sales include airplanes accounted for as operating leases and considered transferred to the BCC segment. 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.

	Nine months ended September 30						Three months ended September 30
	2019			2018			2019			2018
Share-based plans		($57	)		($60	)		($21	)		($24	)
Deferred compensation	(154		)	(112		)	(25		)	(56		)
Amortization of previously capitalized interest	(68		)	(67		)	(23		)	(19		)
Research and development expense, net	(270		)	(69		)	(97		)	(50		)
Customer financing impairment	(250		)
Litigation	(109		)	(148		)
Eliminations and other unallocated items	(819		)	(737		)	(356		)	(322		)
Unallocated items, eliminations and other		($1,727	)		($1,193	)		($522	)		($471	)
Pension FAS/CAS service cost adjustment		$823			$780			$274			$260
Postretirement FAS/CAS service cost adjustment	270			239			90			77
FAS/CAS service cost adjustment		$1,093			$1,019			$364			$337

Pension and Other Postretirement Benefit Expense

Pension costs, comprising GAAP service and prior service costs, are allocated to BCA and the commercial operations at BGS. 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. FAS/CAS service cost adjustment represents the difference between the FAS pension and postretirement service costs calculated under GAAP and costs allocated to the business segments. Non-operating pension and postretirement expenses represent the components of net periodic benefit costs other than service cost. These expenses are included in Other income.

Assets

Segment assets are summarized in the table below:

	September 30 2019		December 31 2018
Commercial Airplanes		$74,994		$64,788
Defense, Space & Security	19,431		19,594
Global Services	18,696		17,921
Boeing Capital	2,246		2,809
Unallocated items, eliminations and other	17,231		12,247
Total		$132,598		$117,359

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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Basis Of Presentation (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018	Mar. 31, 2019
Basis of Presentation [Line Items]
Operating Lease, Liability	$ 1,229		$ 1,229
Increase/(Decrease) in revenue due to change in accounting estimate	(63)	$ (59)	166	$ (14)
Increase/(Decrease) in Earnings from operations due to change in accounting estimate	$ (23)	$ (155)	$ 152	$ (314)
Change in Earnings Per Share Due to Change in Accounting Estimate	$ (0.04)	$ (0.30)	$ 1.20	$ (0.50)
Accounting Standards Update 2016-02 [Member]
Basis of Presentation [Line Items]
Operating Lease, Liability	$ 1,229		$ 1,229		$ 1,064

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Derivative Financial Instruments (Tables)

9 Months Ended

Sep. 30, 2019

Reclassification Adjustment out of Accumulated Other Comprehensive Income on Derivatives [Line Items]

Schedule of Derivative Instruments, Notional Amounts and Fair Values

The notional amounts and fair values of derivative instruments in the Condensed Consolidated Statements of Financial Position were as follows:

	Notional amounts (1)				Other assets						Accrued liabilities
	September 30 2019		December 31 2018		September 30 2019			December 31 2018			September 30 2019			December 31 2018
Derivatives designated as hedging instruments:
Foreign exchange contracts		$2,733		$3,407		$17			$32			($105	)		($132	)
Interest rate contracts	125		125
Commodity contracts	669		57		4			9			(93		)	(2		)
Derivatives not receiving hedge accounting treatment:
Foreign exchange contracts	824		414		6			11			(18		)	(2		)
Commodity contracts	1,713		478
Total derivatives		$6,064		$4,481		$27			$52			($216	)		($136	)
Netting arrangements					(20		)	(24		)	20			24
Net recorded balance						$7			$28			($196	)		($112	)

⁽¹⁾ 

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

Schedule Of Derivative Instruments, Gains/(Losses)

Gains/(losses) associated with our hedging transactions and forward points recognized in Other comprehensive income are presented in the following table: 

	Nine months ended September 30						Three months ended September 30
	2019			2018			2019			2018
Recognized in Other comprehensive income, net of taxes:
Foreign exchange contracts		($6	)		($80	)		($34	)		$4
Commodity contracts	(78		)	2			(30		)	1

Reclassification out of Accumulated Other Comprehensive Income

Gains/(losses) associated with our hedging transactions and forward points reclassified from AOCI to earnings are presented in the following table:

	Nine months ended September 30						Three months ended September 30
	2019			2018			2019			2018
Foreign exchange contracts
Revenues								($6	)
Costs and expenses		($21	)		($17	)	(9		)		($9	)
General and administrative	(9		)	(8		)	(18		)	(5		)
Commodity contracts
Revenues
Costs and expenses	1			1						1
General and administrative expense	1						1			1

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Commitments And Contingencies (Tables)

9 Months Ended

Sep. 30, 2019

Commitments and Contingencies Disclosure [Abstract]

Environmental

The following table summarizes environmental remediation activity during the nine months ended September 30, 2019 and 2018.

	2019			2018
Beginning balance – January 1		$555			$524
Reductions for payments made	(34		)	(17		)
Changes in estimates	61			61
Ending balance – September 30		$582			$568

Product Warranties

The following table summarizes product warranty activity recorded during the nine months ended September 30, 2019 and 2018.

	2019			2018
Beginning balance – January 1		$1,127			$1,211
Additions for current year deliveries	128			176
Reductions for payments made	(166		)	(135		)
Changes in estimates	(7		)	(151		)
Ending balance – September 30		$1,082			$1,101

Financing Commitments

The estimated earliest potential funding dates for these commitments as of September 30, 2019 are as follows:

	Total
October through December 2019		$560
2020	3,104
2021	2,989
2022	1,348
2023	2,169
Thereafter	5,437
		$15,607

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Leases Leases (Narrative) (Details) $ in Millions	3 Months Ended	9 Months Ended
	Sep. 30, 2019 USD ($)	Sep. 30, 2019 USD ($)
Lessee Disclosure [Abstract]
Operating Lease, Cost	$ 82	$ 241
Variable Lease, Cost	15	40
Operating Lease, Payments	70	205
Right-of-Use Asset Obtained in Exchange for Operating Lease Liability	177	315
Lessee, Operating Lease, Lease Not yet Commenced, Value	$ 160	$ 160
Lessee, Operating Lease, Lease Not yet Commenced, Term of Contract	15 years	15 years

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Commitments And Contingencies (Environmental) (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018
Environmental [Roll Forward]
Beginning balance – January 1	$ 555	$ 524
Reductions for payments made	(34)	(17)
Changes in estimates	61	61
Ending balance – September 30	$ 582	$ 568

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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	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Performance Awards [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Shares excluded from the computation of diluted earnings	2.6	2.2	2.6	2.6
Performance-Based Restricted Stock Units (PBRSUs) [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Shares excluded from the computation of diluted earnings	0.6	0.2	0.6	0.3

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Contracts with Customers Contracts with Customers (Narrative) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018	Dec. 31, 2018
Revenue from Contract with Customer [Abstract]
Unbilled receivables, net	$ 11,078		$ 11,078		$ 10,025
Contract with Customer, Asset, Explanation of Change			primarily driven by revenue recognized at BDS and BGS in excess of billings
Advances and progress billings	53,167		$ 53,167		$ 50,676
Contract with Customer, Liability, Explanation of Change			primarily driven by advances on orders received in excess of revenue recognized at BCA, BDS and BGS.
Contract with Customer, Liability, Revenue Recognized	$ 3,100	$ 6,249	$ 13,216	$ 19,006

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Customer Financing (Carrying Values Related to Major Aircraft Concentrations) (Details) - USD ($) $ in Millions	Sep. 30, 2019	Dec. 31, 2018
Customer Financing [Line Items]
Customer financing carrying value	$ 2,251	$ 2,887
Operating leases	789	782
B-717 [Member]
Customer Financing [Line Items]
Customer financing carrying value	778	918
Operating leases	184	204
B747-8 [Member]
Customer Financing [Line Items]
Customer financing carrying value	474	477
Operating leases	130	132
B-737 [Member]
Customer Financing [Line Items]
Customer financing carrying value	266	290
Operating leases	243	263
B-757 [Member]
Customer Financing [Line Items]
Customer financing carrying value	186	200
Operating leases	22	24
MD 80 Aircraft [Member]
Customer Financing [Line Items]
Customer financing carrying value	184	204
B-777 [Member]
Customer Financing [Line Items]
Customer financing carrying value	131	68
Operating leases	126	60
B747-400 aircraft [Member]
Customer Financing [Line Items]
Customer financing carrying value	95	116
Operating leases	$ 33	$ 45

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Derivative Financial Instruments (Narrative) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Derivative [Line Items]
Cash flow hedge gain/(loss) to be reclassified during the next 12 months, pre-tax			$ (15)
Fair value of foreign exchange and commodity contracts that have credit-risk-related contingent features that are in a net liability position	$ 42		42
Foreign Exchange Contract [Member]
Derivative [Line Items]
Derivative, Gain (Loss) on Derivative, Net	$ (1)	$ (1)	$ 1	$ (2)
Gain from Components Excluded from Assessment of Cash Flow Hedge Effectiveness				$ 5
Loss from Components Excluded from Assessment of Cash Flow Hedge Effectiveness		$ 0

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Schedule Of Unallocated Items and Eliminations (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Segment Reporting Information [Line Items]
Share-based plans			$ (160)	$ (150)
Research and Development Expense	$ (778)	$ (826)	(2,470)	(2,417)
Asset Impairment Charges			(106)	(63)
Unallocated items, eliminations and other [Member]
Segment Reporting Information [Line Items]
Share-based plans	(21)	(24)	(57)	(60)
Deferred compensation	(25)	(56)	(154)	(112)
Amortization of previously capitalized interest	(23)	(19)	(68)	(67)
Research and Development Expense	(97)	(50)	(270)	(69)
Asset Impairment Charges			(250)
Litigation Settlement, Expense			(109)	(148)
Eliminations and other unallocated items	(356)	(322)	(819)	(737)
Unallocated items, eliminations and other	522	471	1,727	1,193
FAS/CAS service cost adjustment	364	337	1,093	1,019
Unallocated items, eliminations and other [Member] | Pension Plans, Defined Benefit [Member]
Segment Reporting Information [Line Items]
FAS/CAS service cost adjustment	274	260	823	780
Unallocated items, eliminations and other [Member] | Other Postretirement Benefit Plan, Defined Benefit [Member]
Segment Reporting Information [Line Items]
FAS/CAS service cost adjustment	$ 90	$ 77	$ 270	$ 239

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Fair Value Measurements Fair Value, Assets Measured On Nonrecurring Basis, Valuation Techniques (Details) $ in Millions	Sep. 30, 2019 USD ($)
Aircraft Value Publications [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Fair value of assets and liabilities measured on nonrecurring basis valuation techniques, median	$ 16
Aircraft Value Publications [Member] | Minimum [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Range of fair value of assets measured on nonrecurring basis valuation techniques	12
Aircraft Value Publications [Member] | Maximum [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Range of fair value of assets measured on nonrecurring basis valuation techniques	20
Aircraft Condition Adjustments [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Net fair value of assets measured on nonrecurring basis valuation techniques	(6)
Aircraft Condition Adjustments [Member] | Minimum [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Range of fair value of assets measured on nonrecurring basis valuation techniques	(6)
Aircraft Condition Adjustments [Member] | Maximum [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Range of fair value of assets measured on nonrecurring basis valuation techniques	$ 0

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Debt Narrative (Details) - USD ($) $ in Millions	3 Months Ended
	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019
Debt Instrument [Line Items]
Debt Instrument, Face Amount	$ 5,500	$ 3,500	$ 1,500
Proceeds from Debt, Net of Issuance Costs	5,442	3,454	1,451
Debt Instrument, Unused Borrowing Capacity, Amount	6,620
Two Point Eight Percent due on March 1, 2024 [Member]
Debt Instrument [Line Items]
Debt Instrument, Face Amount			$ 400
Debt Instrument, Maturity Date			Mar. 01, 2024
Debt Instrument, Interest Rate, Stated Percentage			2.80%
Three Point Two Percent due on March 1, 2029 [Member]
Debt Instrument [Line Items]
Debt Instrument, Face Amount		$ 600	$ 400
Debt Instrument, Maturity Date		Mar. 01, 2029	Mar. 01, 2029
Debt Instrument, Interest Rate, Stated Percentage		3.20%	3.20%
Three Point Six Percent Due May 1, 2034 [Member]
Debt Instrument [Line Items]
Debt Instrument, Face Amount		$ 850
Debt Instrument, Maturity Date		May 01, 2034
Debt Instrument, Interest Rate, Stated Percentage		3.60%
Three Point Nine Percent Due May 1, 2049 [Member]
Debt Instrument [Line Items]
Debt Instrument, Face Amount		$ 800
Debt Instrument, Maturity Date		May 01, 2049
Debt Instrument, Interest Rate, Stated Percentage		3.90%
Three Point Five Percent due on March 1, 2039 [Member] [Member]
Debt Instrument [Line Items]
Debt Instrument, Face Amount			$ 400
Debt Instrument, Maturity Date			Mar. 01, 2039
Debt Instrument, Interest Rate, Stated Percentage			3.50%
Three Point Eight Two Five Percent due on March 1, 2059 [Member]
Debt Instrument [Line Items]
Debt Instrument, Face Amount			$ 300
Debt Instrument, Maturity Date			Mar. 01, 2059
Debt Instrument, Interest Rate, Stated Percentage			3.825%
Two Point Seven Percent due on May 1, 2022 [Member]
Debt Instrument [Line Items]
Debt Instrument, Face Amount		$ 600
Debt Instrument, Maturity Date		May 01, 2022
Debt Instrument, Interest Rate, Stated Percentage		2.70%
Three Point One Percent Due May 1, 2026 [Member]
Debt Instrument [Line Items]
Debt Instrument, Face Amount		$ 650
Debt Instrument, Maturity Date		May 01, 2026
Debt Instrument, Interest Rate, Stated Percentage		3.10%
Two Point Three Percent due on August 1, 2021 [Member]
Debt Instrument [Line Items]
Debt Instrument, Face Amount	$ 750
Debt Instrument, Maturity Date	Aug. 01, 2021
Debt Instrument, Interest Rate, Stated Percentage	2.30%
Two Point Seven Percent due on February 1, 2027 [Member]
Debt Instrument [Line Items]
Debt Instrument, Face Amount	$ 1,000
Debt Instrument, Maturity Date	Feb. 01, 2027
Debt Instrument, Interest Rate, Stated Percentage	2.70%
Two Point Ninety-Five Percent due on February 1, 2030 [Member]
Debt Instrument [Line Items]
Debt Instrument, Face Amount	$ 750
Debt Instrument, Maturity Date	Feb. 01, 2030
Debt Instrument, Interest Rate, Stated Percentage	2.95%
Three Point Two Five Percent due on February 1, 2035 [Member]
Debt Instrument [Line Items]
Debt Instrument, Face Amount	$ 750
Debt Instrument, Maturity Date	Feb. 01, 2035
Debt Instrument, Interest Rate, Stated Percentage	3.25%
Three Point Seven Five Percent due on February 1, 2050 [Member]
Debt Instrument [Line Items]
Debt Instrument, Face Amount	$ 1,250
Debt Instrument, Maturity Date	Feb. 01, 2050
Debt Instrument, Interest Rate, Stated Percentage	3.75%
Three Point Nine Five Percent due on August 1, 2059 [Member]
Debt Instrument [Line Items]
Debt Instrument, Face Amount	$ 1,000
Debt Instrument, Maturity Date	Aug. 01, 2059
Debt Instrument, Interest Rate, Stated Percentage	3.95%
Short Term Credit Facility [Member] | Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity		$ 1,500

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Condensed Consolidated Statements Of Operations - USD ($) shares in Millions, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Condensed Income Statements, Captions [Line Items]
Revenues	$ 19,980	$ 25,146	$ 58,648	$ 72,786
Boeing Capital interest expense	(15)	(18)	(49)	(51)
Total costs and expenses	(16,930)	(21,040)	(53,385)	(59,400)
Gross profit	3,050	4,106	5,263	13,386
Income (Loss) from Investments	(8)	32	(3)	112
General and administrative expense	(1,001)	(1,154)	(2,857)	(3,345)
Research and development expense, net	(778)	(826)	(2,470)	(2,417)
Gain/(loss) on dispositions, net	(4)	69	296	76
Earnings from operations	1,259	2,227	229	7,812
Other income	121	12	334	63
Interest and debt expense	(203)	(106)	(480)	(317)
Earnings before income taxes	1,177	2,133	83	7,558
Income tax benefit/(expense)	(10)	230	291	(522)
Net earnings	$ 1,167	$ 2,363	$ 374	$ 7,036
Basic earnings per share	$ 2.07	$ 4.11	$ 0.66	$ 12.08
Diluted earnings per share	$ 2.05	$ 4.07	$ 0.66	$ 11.95
Weighted average diluted shares (millions)	569.2	580.8	570.4	588.9
Product [Member]
Condensed Income Statements, Captions [Line Items]
Revenues	$ 17,195	$ 22,463	$ 50,514	$ 64,848
Cost of Goods and Services Sold	(14,674)	(18,882)	(46,584)	(53,134)
Service [Member]
Condensed Income Statements, Captions [Line Items]
Revenues	2,785	2,683	8,134	7,938
Cost of Goods and Services Sold	$ (2,241)	$ (2,140)	$ (6,752)	$ (6,215)

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Condensed Consolidated Statements Of Financial Position (Parenthetical) - USD ($) $ in Millions	Sep. 30, 2019	Dec. 31, 2018
Statement of Financial Position [Abstract]
Property, plant and equipment, accumulated depreciation	$ 19,125	$ 18,568
Other assets, accumulated amortization	$ 561	$ 503
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
Treasury stock, shares	449,472,403	444,619,970

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Income Taxes

9 Months Ended

Sep. 30, 2019

Income Tax Disclosure [Abstract]

Income Taxes

Income Taxes

Our effective income tax rates were (350.6)% and 0.8% for the nine and three months ended September 30, 2019 and 6.9% and (10.8)% for the same periods in the prior year. The tax rates in 2019 and 2018 reflect the U.S. federal tax rate of 21% reduced by tax benefits associated with intangible income derived from serving non-U.S. markets, research and development tax credits and excess tax benefits related to share-based payments. Additionally, in the third quarter of 2018, $412 of discrete tax benefits were recorded related to the settlement of the 2013-2014 federal tax audit. The year to date tax rate variance is primarily due to lower pre-tax income in 2019, resulting in larger 2019 discrete tax rate benefits.

Federal income tax audits have been settled for all years prior to 2015. The Internal Revenue Service (IRS) began the 2015-2017 federal tax audit in the first quarter of 2019. We are also subject to examination in major state and international jurisdictions for the 2001-2017 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 state matters under audit may decrease by up to $480 based on current estimates.

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Investments

9 Months Ended

Sep. 30, 2019

Investments [Abstract]

Investments

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

	September 30 2019		December 31 2018
Equity method investments (1)		$1,079		$1,048
Time deposits	529		255
Available for sale debt instruments	530		491
Equity and other investments	43		44
Restricted cash & cash equivalents(2)	86		176
Total		$2,267		$2,014

⁽¹⁾  Dividends received were $153 and $60 for the nine and three months ended September 30, 2019 and $222 and $79 during the same periods in the prior year.

⁽²⁾ 

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

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Investments (Tables)

9 Months Ended

Sep. 30, 2019

Investments [Abstract]

Schedule of Investments

Investments

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

	September 30 2019		December 31 2018
Equity method investments (1)		$1,079		$1,048
Time deposits	529		255
Available for sale debt instruments	530		491
Equity and other investments	43		44
Restricted cash & cash equivalents(2)	86		176
Total		$2,267		$2,014

⁽¹⁾  Dividends received were $153 and $60 for the nine and three months ended September 30, 2019 and $222 and $79 during the same periods in the prior year.

⁽²⁾ 

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

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Basis Of Presentation Basis of Presentation (Tables)

9 Months Ended

Sep. 30, 2019

Net cumulative catch-up adjustments [Abstract]

Use of Estimates, Policy [Policy Text Block]

Use of Estimates

The preparation of financial statements in conformity with U.S. generally accepted accounting principles (GAAP) requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.

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 long-term contract’s percentage-of-completion. When the current estimates of total sales and costs for a long-term contract indicate a loss, a provision for the entire reach-forward loss on the long-term contract is recognized.

Net cumulative catch-up adjustments to prior years' revenue and earnings, including certain reach-forward losses, across all long-term contracts were as follows:

(In millions - except per share amounts)	Nine months ended September 30					Three months ended September 30
	2019		2018			2019			2018
Increase/(decrease) to Revenue		$166		($14	)		($63	)		($59	)
Increase/(decrease) to Earnings from Operations		$152		($314	)		($23	)		($155	)
Increase/(decrease) to Diluted EPS		$1.20		($0.50	)		($0.04	)		($0.30	)

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Basis Of Presentation (Policy)

9 Months Ended

Sep. 30, 2019

Organization, Consolidation and Presentation of Financial Statements [Abstract]

New Accounting Pronouncements, Policy [Policy Text Block]

Standards Issued and Implemented

In the first quarter of 2019, we adopted Accounting Standards Update (ASU) 2016-02, Leases (Topic 842) and recognized on our Condensed Consolidated Statement of Financial Position $1,064 of lease liabilities with corresponding right-of-use assets for operating leases. Our accounting for finance leases and lessor contracts remains substantially unchanged. The standard has no impact to cash provided or used by operating, investing, or financing activities on our Condensed Consolidated Statements of Cash Flows. As permitted under the standard, we elected prospective application of the new guidance and prior periods continue to be presented in accordance with Topic 840. Refer to our 2018 Annual Report on Form 10-K for disclosures required by Topic 840. We also elected the package of practical expedients, which among other things, does not require reassessment of lease classification.

In the first quarter of 2019, we adopted ASU 2017-12, Derivatives and Hedging (Topic 815), using the modified retrospective method. The standard refines and simplifies hedge accounting requirements for both financial and commodity risks. The impact of the adoption was not material. See Note 17 for additional disclosures.

Lease policy [Policy Text Block]

Leases We determine if an arrangement is, or contains, a lease at the inception date. Operating leases are included in Other assets, with the related liabilities included in Accrued liabilities and Other long-term liabilities. Assets under finance leases are included in Property, plant and equipment, net, with the related liabilities included in Short-term debt and current portion of long-term debt and Long-term debt on the Condensed Consolidated Statements of Financial Position.

Operating lease assets represent our right to use an underlying asset for the lease term and lease liabilities represent our obligation to make lease payments arising from the lease. Operating lease assets and liabilities are recognized at the lease commencement date based on the estimated present value of lease payments over the lease term. We use our estimated incremental borrowing rate in determining the present value of lease payments. Variable components of the lease payments such as fair market value adjustments, utilities, and maintenance costs are expensed as incurred and not included in determining the present value. Our lease terms include options to extend or terminate the lease when it is reasonably certain that we will exercise that option. Lease expense is recognized on a straight-line basis over the lease term.

We have lease agreements with lease and non-lease components which are accounted for as a single lease component.

Use of Estimates, Policy [Policy Text Block]

Use of Estimates

The preparation of financial statements in conformity with U.S. generally accepted accounting principles (GAAP) requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.

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 long-term contract’s percentage-of-completion. When the current estimates of total sales and costs for a long-term contract indicate a loss, a provision for the entire reach-forward loss on the long-term contract is recognized.

Net cumulative catch-up adjustments to prior years' revenue and earnings, including certain reach-forward losses, across all long-term contracts were as follows:

(In millions - except per share amounts)	Nine months ended September 30					Three months ended September 30
	2019		2018			2019			2018
Increase/(decrease) to Revenue		$166		($14	)		($63	)		($59	)
Increase/(decrease) to Earnings from Operations		$152		($314	)		($23	)		($155	)
Increase/(decrease) to Diluted EPS		$1.20		($0.50	)		($0.04	)		($0.30	)

Earnings Per Share, Policy [Policy Text Block]

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.

Backlog [Policy Text Block]

Our total backlog represents the estimated transaction prices on performance obligations to our customers for which work remains to be performed. Backlog is converted into revenue in future periods as work is performed, primarily based on the cost incurred or at delivery and acceptance of products, depending on the applicable accounting method.

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Postretirement Plans

9 Months Ended

Sep. 30, 2019

Retirement Benefits [Abstract]

Postretirement Plans

Postretirement Plans

The components of net periodic benefit (income)/cost were as follows:

	Nine months ended September 30						Three months ended September 30
Pension Plans	2019			2018			2019			2018
Service cost		$2			$322						$107
Interest cost	2,193			2,086				$731		696
Expected return on plan assets	(2,896		)	(3,007		)	(966		)	(1,002		)
Amortization of prior service credits	(59		)	(42		)	(19		)	(14		)
Recognized net actuarial loss	482			847			161			282
Settlement/curtailment/other losses				43
Net periodic benefit (income)/cost		($278	)		$249			($93	)		$69
Net periodic benefit cost included in Earnings from operations		$234			$237			$76			$79
Net periodic benefit income included in Other income	(280		)	(98		)	(93		)	(50		)
Net periodic benefit (income)/cost included in Earnings before income taxes		($46	)		$139			($17	)		$29

	Nine months ended September 30						Three months ended September 30
Other Postretirement Plans	2019			2018			2019			2018
Service cost		$58			$71			$19			$24
Interest cost	147			145			49			48
Expected return on plan assets	(6		)	(6		)	(2		)	(2		)
Amortization of prior service credits	(26		)	(94		)	(8		)	(31		)
Recognized net actuarial gain	(35		)	(8		)	(12		)	(3		)
Net periodic benefit cost		$138			$108			$46			$36
Net periodic benefit cost included in Earnings from operations		$66			$63			$21			$21
Net periodic benefit cost included in Other income	80			77			27			29
Net periodic benefit cost included in Earnings before income taxes		$146			$140			$48			$50

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Fair Value Measurements

9 Months Ended

Sep. 30, 2019

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.

	September 30, 2019								December 31, 2018
	Total			Level 1		Level 2			Total			Level 1		Level 2
Assets
Money market funds		$1,371			$1,371					$1,737			$1,737
Available-for-sale debt investments:
Commercial paper	146						$146		78						$78
Corporate notes	352					352			420					420
U.S. government agencies	109			109
Other equity investments	10			10					12			12
Derivatives	7					7			28					28
Total assets		$1,995			$1,490		$505			$2,275			$1,749		$526
Liabilities
Derivatives		($196	)				($196	)		($112	)				($112	)
Total liabilities		($196	)				($196	)		($112	)				($112	)

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 nine months ended September 30 due to long-lived asset impairment and the fair value and asset classification of the related assets as of the impairment date:

	2019					2018
	Fair Value		Total Losses			Fair Value		Total Losses
Operating lease equipment		$10		($1	)		$45		($16	)
Investments	51		(84		)			(47		)
Property, plant and equipment	41		(4		)
Acquired intangible assets	3		(17		)
Total		$105		($106	)		$45		($63	)

Investments, Property, plant and equipment and Acquired intangible assets 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 nine months ended September 30, 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	$10	Market approach	Aircraft value publications	$12- $20(1) Median $16
			Aircraft condition adjustments	($6) - $0(2) Net ($6)

⁽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 Condensed Consolidated Statements of Financial Position were as follows:

	September 30, 2019
	Carrying Amount			Total Fair Value			Level 1	Level 2			Level 3
Assets
Notes receivable, net		$446			$451				$451
Liabilities
Debt, excluding capital lease obligations and commercial paper	(21,432		)	(24,518		)		(24,480		)		($38	)

	December 31, 2018
	Carrying Amount			Total Fair Value			Level 1	Level 2			Level 3
Assets
Notes receivable, net		$730			$735				$735
Liabilities
Debt, excluding capital lease obligations and commercial paper	(11,796		)	(12,746		)		(12,682		)		($64	)

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, Unbilled receivables, Accounts payable and long-term payables. The carrying values of those items, as reflected in the Condensed Consolidated Statements of Financial Position, approximate their fair value at September 30, 2019 and December 31, 2018. 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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Commitments And Contingencies (Financing Commitments) (Details) - Financing Commitment [Member] - USD ($) $ in Millions	Sep. 30, 2019	Dec. 31, 2018
Financing Commitments [Line Items]
October through December 2019	$ 560
2018	3,104
2019	2,989
2020	1,348
2021	2,169
Thereafter	5,437
Total	15,607	$ 19,462
External Credit Rating, Non Investment Grade [Member]
Financing Commitments [Line Items]
Total	$ 15,452

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Investments (Schedule Of Investments) (Details) - USD ($) $ in Millions		3 Months Ended		9 Months Ended
		Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018	Dec. 31, 2018
Investments [Abstract]
Equity method investments	[1]	$ 1,079		$ 1,079		$ 1,048
Time deposits		529		529		255
Available for sale debt instruments		530		530		491
Equity and other investments		43		43		44
Restricted Cash and Cash Equivalents	[2]	86	$ 128	86	$ 128	176
Total		2,267		2,267		$ 2,014
Dividends received		$ 60	$ 79	$ 153	$ 222

[1] Dividends received were $153 and $60 for the nine and three months ended September 30, 2019 and $222 and $79 during the same periods in the prior year.

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

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Leases Schedule Of Maturities Of Operating Liabilities (Details) $ in Millions	Sep. 30, 2019 USD ($)
Schedule Of Maturities Of Operating Leases [Abstract]
Lessee, Operating Lease, Liability, Payments, Due Next Twelve Months	$ 292
Lessee, Operating Lease, Liability, Payments, Due in Rolling Year Two	238
Lessee, Operating Lease, Liability, Payments, Due in Rolling Year Three	190
Lessee, Operating Lease, Liability, Payments, Due in Rolling Year Four	153
Lessee, Operating Lease, Liability, Payments, Due in Rolling Year Five	93
Lessee, Operating Lease, Liability, Payments, Due after Rolling Year Five	598
Lessee, Operating Lease, Liability, Payments, Due	1,564
Lessee, Operating Lease, Liability, Undiscounted Excess Amount	(335)
Operating Lease, Liability	$ 1,229

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Segment and Revenue Information (Tables)

9 Months Ended

Sep. 30, 2019

Disaggregation of Revenue [Line Items]

Schedule Of Unallocated Items and Eliminations

Components of Unallocated items, eliminations and other are shown in the following table.

	Nine months ended September 30						Three months ended September 30
	2019			2018			2019			2018
Share-based plans		($57	)		($60	)		($21	)		($24	)
Deferred compensation	(154		)	(112		)	(25		)	(56		)
Amortization of previously capitalized interest	(68		)	(67		)	(23		)	(19		)
Research and development expense, net	(270		)	(69		)	(97		)	(50		)
Customer financing impairment	(250		)
Litigation	(109		)	(148		)
Eliminations and other unallocated items	(819		)	(737		)	(356		)	(322		)
Unallocated items, eliminations and other		($1,727	)		($1,193	)		($522	)		($471	)
Pension FAS/CAS service cost adjustment		$823			$780			$274			$260
Postretirement FAS/CAS service cost adjustment	270			239			90			77
FAS/CAS service cost adjustment		$1,093			$1,019			$364			$337

Reconciliation of Assets from Segment to Consolidated

Segment assets are summarized in the table below:

	September 30 2019		December 31 2018
Commercial Airplanes		$74,994		$64,788
Defense, Space & Security	19,431		19,594
Global Services	18,696		17,921
Boeing Capital	2,246		2,809
Unallocated items, eliminations and other	17,231		12,247
Total		$132,598		$117,359

Commercial Airplanes Segment [Member]

Disaggregation of Revenue [Line Items]

Disaggregation of Revenue

BCA revenues by customer location consist of the following:

(Dollars in millions)	Nine months ended September 30						Three months ended September 30
	2019			2018			2019			2018
Revenue from contracts with customers:
Europe		$3,944			$7,189			$1,260			$1,882
China	4,393			9,433			1,237			4,677
Asia, other than China	5,832			5,966			1,454			1,886
Middle East	2,926			3,931			1,121			1,598
Other	2,533			3,598			166			1,098
Total non-U.S. revenues	19,628			30,117			5,238			11,141
United States	10,591			10,824			3,004			2,922
Estimated potential concessions and other considerations to 737 MAX customers, net(1)	(5,610		)
Total revenues from contracts with customers	24,609			40,941			8,242			14,063
Intersegment revenues eliminated on consolidation	184			27			7			8
Total segment revenues		$24,793			$40,968			$8,249			$14,071
Revenue recognized on fixed-price contracts	100		%	100		%	100		%	100		%
Revenue recognized at a point in time	100		%	100		%	100		%	99		%

⁽¹⁾ 

Net of insurance recoveries

Defense, Space & Security [Member]

Disaggregation of Revenue [Line Items]

Disaggregation of Revenue

BDS revenues on contracts with customers, based on the customer's location, consist of the following:

(Dollars in millions)	Nine months ended September 30						Three months ended September 30
	2019			2018			2019			2018
Revenue from contracts with customers:
U.S. customers		$15,234			$14,586			$5,459			$5,381
Non U.S. customers(1)	5,031			4,932			1,583			1,556
Total segment revenue from contracts with customers		$20,265			$19,518			$7,042			$6,937
Revenue recognized over time	98		%	98		%	97		%	98		%
Revenue recognized on fixed-price contracts	69		%	69		%	70		%	70		%
Revenue from the U.S. government(1)	89		%	88		%	90		%	88		%

⁽¹⁾ 

Includes revenues earned from foreign military sales through the U.S. government.

Global Services [Member]

Disaggregation of Revenue [Line Items]

Disaggregation of Revenue

BGS revenues consist of the following:

(Dollars in millions)	Nine months ended September 30						Three months ended September 30
	2019			2018			2019			2018
Revenue from contracts with customers:
Commercial		$7,621			$6,419			$2,510			$2,167
Government	6,075			5,584			2,101			1,882
Total revenues from contracts with customers	13,696			12,003			4,611			4,049
Intersegment revenues eliminated on consolidation	124			145			47			52
Total segment revenues		$13,820			$12,148			$4,658			$4,101
Revenue recognized at a point in time	56		%	52		%	54		%	52		%
Revenue recognized on fixed-price contracts	89		%	88		%	90		%	85		%
Revenue from the U.S. government(1)	33		%	32		%	35		%	32		%

⁽¹⁾ 

Includes revenues earned from foreign military sales through the U.S. government.

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Postretirement Plans (Tables)

9 Months Ended

Sep. 30, 2019

Pension Plans, Defined Benefit [Member]

Defined Benefit Plan Disclosure [Line Items]

Net Periodic Benefit Cost

The components of net periodic benefit (income)/cost were as follows:

	Nine months ended September 30						Three months ended September 30
Pension Plans	2019			2018			2019			2018
Service cost		$2			$322						$107
Interest cost	2,193			2,086				$731		696
Expected return on plan assets	(2,896		)	(3,007		)	(966		)	(1,002		)
Amortization of prior service credits	(59		)	(42		)	(19		)	(14		)
Recognized net actuarial loss	482			847			161			282
Settlement/curtailment/other losses				43
Net periodic benefit (income)/cost		($278	)		$249			($93	)		$69
Net periodic benefit cost included in Earnings from operations		$234			$237			$76			$79
Net periodic benefit income included in Other income	(280		)	(98		)	(93		)	(50		)
Net periodic benefit (income)/cost included in Earnings before income taxes		($46	)		$139			($17	)		$29

Other Postretirement Benefit Plan, Defined Benefit [Member]

Defined Benefit Plan Disclosure [Line Items]

Net Periodic Benefit Cost

	Nine months ended September 30						Three months ended September 30
Other Postretirement Plans	2019			2018			2019			2018
Service cost		$58			$71			$19			$24
Interest cost	147			145			49			48
Expected return on plan assets	(6		)	(6		)	(2		)	(2		)
Amortization of prior service credits	(26		)	(94		)	(8		)	(31		)
Recognized net actuarial gain	(35		)	(8		)	(12		)	(3		)
Net periodic benefit cost		$138			$108			$46			$36
Net periodic benefit cost included in Earnings from operations		$66			$63			$21			$21
Net periodic benefit cost included in Other income	80			77			27			29
Net periodic benefit cost included in Earnings before income taxes		$146			$140			$48			$50

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Share-Based Compensation And Other Compensation Arrangements (Narrative) (Details) - USD ($) $ / shares in Units, $ in Millions	Feb. 25, 2019	Sep. 30, 2019
Restricted Stock Units (RSUs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted stock units (RSUs) granted to executives	233,582
Restricted stock units (RSUs) granted to executives (fair value per share)	$ 428.22
Share-based payment award vesting period (in years)	3 years
Performance Based Restricted Stock Units (PBRSUs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted stock units (RSUs) granted to executives (fair value per share)	$ 466.04
Share-based payment award vesting period (in years)	3 years
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Volatility Rate	23.88%
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Risk Free Interest Rate	2.46%
Performance Awards [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based payment award vesting period (in years)	3 years
Performance award period end date	Dec. 31, 2021
Performance Awards [Member] | Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Payout Amount, Aggregate		$ 0
2019 PBRSU [Member] | Performance Based Restricted Stock Units (PBRSUs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted stock units (RSUs) granted to executives	214,651
2019 performance awards [Member] | Performance Awards [Member] | Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Payout Amount, Aggregate		$ 393

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Segment and Revenue Information Segment and Revenue Information (Narrative) (Details) $ in Millions	9 Months Ended
	Sep. 30, 2019 USD ($) segments
Segment Reporting Information [Line Items]
Number of Reportable Segments | segments	4
Revenue, Remaining Performance Obligation, Amount | $	$ 470,225
Within Next 2 Fiscal Years [Member]
Segment Reporting Information [Line Items]
Revenue, Remaining Performance Obligation, Percent Recognized	26.00%
Within Next 5 Fiscal Years [Member]
Segment Reporting Information [Line Items]
Revenue, Remaining Performance Obligation, Percent Recognized	72.00%

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Fair Value Measurements Fair Value, Assets and Liabilities Measured on Recurring Basis (Details) - USD ($) $ in Millions	Sep. 30, 2019	Dec. 31, 2018
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivatives, Assets	$ 7	$ 28
Derivatives, Liabilities	(196)	(112)
Fair Value, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Money market funds	1,371	1,737
Commercial Paper, at Carrying Value	146	78
Available for sale debt instruments	352	420
Available for Sale Securities, Government Agencies	109
Investments, Fair Value Disclosure	10	12
Derivatives, Assets	7	28
Total assets	1,995	2,275
Derivatives, Liabilities	(196)	(112)
Total liabilities	(196)	(112)
Fair Value, Recurring [Member] | Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Money market funds	1,371	1,737
Available for Sale Securities, Government Agencies	109
Investments, Fair Value Disclosure	10	12
Total assets	1,490	1,749
Fair Value, Recurring [Member] | Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Commercial Paper, at Carrying Value	146	78
Available for sale debt instruments	352	420
Derivatives, Assets	7	28
Total assets	505	526
Derivatives, Liabilities	(196)	(112)
Total liabilities	$ (196)	$ (112)

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Arrangements With Off-Balance Sheet Risk (Narrative) (Details) - USD ($) $ in Millions	1 Months Ended
	Dec. 31, 2011	Jun. 30, 2011	Sep. 30, 2019	Dec. 31, 2018
ULA [Member]
Guarantees [Line Items]
Delta launch program inventories included in contributed assets			$ 1,360
Delta launch program inventories subject to inventory supply agreement			1,860
Contributed Delta Program Launch Inventory [Member] | ULA [Member]
Guarantees [Line Items]
Maximum Potential Payments			30	$ 52
Other Delta Contracts [Member] | Deferred support costs [Member]
Guarantees [Line Items]
Maximum Potential Payments			85
Additional potentially unrecoverable deferred production costs		$ 271
Other Delta Contracts [Member] | Deferred production costs [Member]
Guarantees [Line Items]
Maximum Potential Payments			91
Additional potentially unrecoverable deferred production costs	$ 114
Other Delta Contracts [Member] | ULA [Member]
Guarantees [Line Items]
Maximum Potential Payments			176	176
Carrying Amount of Liabilities
Deferred Support and Production Costs [Member]
Guarantees [Line Items]
Loss Contingency, Estimate of Possible Loss			317
Credit Guarantee [Member]
Guarantees [Line Items]
Maximum Potential Payments			92	106
Carrying Amount of Liabilities			$ 16	$ 16

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Derivative Financial Instruments (Schedule Of Derivative Instruments, Gains/(Losses)) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Foreign Exchange Contract [Member]
Derivative [Line Items]
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), before Reclassification and Tax	$ (34)	$ 4	$ (6)	$ (80)
Commodity Contract [Member]
Derivative [Line Items]
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), before Reclassification and Tax	$ (30)	$ 1	$ (78)	$ 2

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Inventories (Narrative) (Details) - USD ($) $ in Millions	Sep. 30, 2019	Dec. 31, 2018
Inventory [Line Items]
Long-term contracts in progress	$ 966	$ 2,129
Other Inventory, Gross	8,795	7,685
Airplane Program 787 [Member]
Inventory [Line Items]
Inventory, Work in Process, Gross	26,593	27,852
Amount of Deferred Costs Related to Long-term Contracts	19,825	22,967
Advances on Inventory Purchases	2,273	2,453
Unamortized Tooling	2,215	2,638
Recovered Production Costs Excess Recoverable Under Existing Firm Orders	14,454
Unrecovered Production Costs, Excess Unrecoverable under Existing Firm Orders	7,586
Airplane Program 737 [Member]
Inventory [Line Items]
Amount of Deferred Costs Related to Long-term Contracts	1,481	463
Unamortized Tooling	522	471
Recovered Production Costs Excess Recoverable Under Existing Firm Orders	1,999
Unrecovered Production Costs, Excess Unrecoverable under Existing Firm Orders	4
Ula [Member]
Inventory [Line Items]
Long-term contracts in progress	176	227
Capitalized Precontract Costs [Member]
Inventory [Line Items]
Inventory Amount, Unpriced Change Orders for Long-term Contracts or Programs	679	644
Early Issue Sales Consideration [Member]
Inventory [Line Items]
Inventory Amount, Unpriced Change Orders for Long-term Contracts or Programs	$ 2,767	$ 2,844

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Customer Financing (Schedule Of Customer Financing) (Details) - USD ($) $ in Millions	Sep. 30, 2019	Dec. 31, 2018
Customer Financing [Abstract]
Investment in sales-type/finance leases	$ 1,016	$ 1,125
Notes	446	730
Total financing receivables	1,462	1,855
Operating lease equipment, at cost, less accumulated depreciation of $245 and $203	789	782
Operative lease incentive		250
Gross customer financing	2,251	2,887
Less allowance for losses on receivables	(8)	(9)
Total	2,243	2,878
Operating lease equipment- Accumulated depreciation	$ 245	$ 203

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Inventories (Tables)

9 Months Ended

Sep. 30, 2019

Inventory Disclosure [Abstract]

Schedule of Inventory, Current

Inventories consisted of the following:

	September 30 2019		December 31 2018
Long-term contracts in progress		$966		$2,129
Commercial aircraft programs	63,518		52,753
Commercial spare parts, used aircraft, general stock materials and other	8,795		7,685
Total		$73,279		$62,567

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Commitments And Contingencies Commitments and Contingencies (Policies)

9 Months Ended

Sep. 30, 2019

Commitments and Contingencies Disclosure [Abstract]

Environmental

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.

Commitments and Contingencies, Policy [Policy Text Block]

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.

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Condensed Consolidated Statements of Comprehensive Income (Parenthetical) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Statement of Comprehensive Income [Abstract]
Other Comprehensive Income (Loss), Tax	$ (12)	$ (52)	$ (60)	$ (133)
Other Comprehensive Income (Loss), Securities, Available-for-Sale, Unrealized Holding Gain (Loss) Arising During Period, Tax				(1)
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), after Reclassification, Tax [Abstract]
Unrealized loss arising during period, tax	25	1	30	27
Reclassification adjustment for losses included in net earnings, tax	(7)	(3)	(6)	(5)
Other Comprehensive Income (Loss), Pension and Other Postretirement Benefit Plans, Tax, Portion Attributable to Parent [Abstract]
Amortization of prior service cost included in net periodic pension cost, tax	5	10	18	30
Amortization of actuarial losses included in net periodic pension cost, tax	(32)	$ (60)	(97)	(182)
Other Comprehensive Income, Settlements and curtailments included in net income, tax				(3)
Pension and post retirement benefits related to our equity method investments, tax	$ (3)		$ (5)	$ 1
Common Stock, Dividends, Per Share, Declared			$ 4.11	$ 3.42

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Leases Leases

9 Months Ended

Sep. 30, 2019

Leases [Abstract]

Operating Lease, Lease Income [Table Text Block]

Leases

Our operating lease assets primarily represent manufacturing and research and development facilities, warehouses, and offices. Our finance leases primarily represent computer equipment and are not significant. Total operating lease expense was $241 and $82 for nine and three months ended September 30, 2019, of which $40 and $15 was attributable to variable lease expenses.

For the nine and three months ended September 30, 2019 cash payments against operating lease liabilities totaled $205 and $70 and non-cash transactions totaled $315 and $177 to recognize operating assets and liabilities for new leases.

Supplemental Condensed Consolidated Statement of Financial Position information related to leases was as follows:

	September 30 2019
Operating leases:
Operating lease right-of-use assets		$1,178
Current portion of lease liabilities	260
Non-current portion of lease liabilities	969
Total operating lease liabilities		$1,229
Weighted average remaining lease term (years)	9
Weighted average discount rate	3.07		%

Maturities of lease liabilities were as follows:

	Operating leases
Year 1		$292
Year 2	238
Year 3	190
Year 4	153
Year 5	93
Thereafter	598
Total lease payments	1,564
Less imputed interest	(335		)
Total		$1,229

As of September 30, 2019, we have entered into an operating lease that has not yet commenced of $160, primarily related to research and development and manufacturing facilities. This lease will commence in 2020 with a lease term of 15 years.

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Basis Of Presentation

9 Months Ended

Sep. 30, 2019

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Basis Of Presentation

Basis of Presentation

The condensed consolidated interim 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”). In the opinion of management, all adjustments (consisting of normal recurring accruals) necessary for a fair presentation are reflected in the interim financial statements. The results of operations for the period ended September 30, 2019 are not necessarily indicative of the operating results for the full year. The interim financial statements should be read in conjunction with the audited Consolidated Financial Statements, including the notes thereto, included in our 2018 Annual Report on Form 10-K. Certain amounts in prior periods have been adjusted to conform with the current year presentation.

Standards Issued and Implemented

In the first quarter of 2019, we adopted Accounting Standards Update (ASU) 2016-02, Leases (Topic 842) and recognized on our Condensed Consolidated Statement of Financial Position $1,064 of lease liabilities with corresponding right-of-use assets for operating leases. Our accounting for finance leases and lessor contracts remains substantially unchanged. The standard has no impact to cash provided or used by operating, investing, or financing activities on our Condensed Consolidated Statements of Cash Flows. As permitted under the standard, we elected prospective application of the new guidance and prior periods continue to be presented in accordance with Topic 840. Refer to our 2018 Annual Report on Form 10-K for disclosures required by Topic 840. We also elected the package of practical expedients, which among other things, does not require reassessment of lease classification.

In the first quarter of 2019, we adopted ASU 2017-12, Derivatives and Hedging (Topic 815), using the modified retrospective method. The standard refines and simplifies hedge accounting requirements for both financial and commodity risks. The impact of the adoption was not material. See Note 17 for additional disclosures.

Significant Accounting Policies - Update

Our significant accounting policies are described in "Note 1: Summary of Significant Accounting Policies" of our Annual Report on Form 10-K for the year ended December 31, 2018. Our updated significant accounting policies described below reflect the impact of adopting Topic 842.

Leases We determine if an arrangement is, or contains, a lease at the inception date. Operating leases are included in Other assets, with the related liabilities included in Accrued liabilities and Other long-term liabilities. Assets under finance leases are included in Property, plant and equipment, net, with the related liabilities included in Short-term debt and current portion of long-term debt and Long-term debt on the Condensed Consolidated Statements of Financial Position.

Operating lease assets represent our right to use an underlying asset for the lease term and lease liabilities represent our obligation to make lease payments arising from the lease. Operating lease assets and liabilities are recognized at the lease commencement date based on the estimated present value of lease payments over the lease term. We use our estimated incremental borrowing rate in determining the present value of lease payments. Variable components of the lease payments such as fair market value adjustments, utilities, and maintenance costs are expensed as incurred and not included in determining the present value. Our lease terms include options to extend or terminate the lease when it is reasonably certain that we will exercise that option. Lease expense is recognized on a straight-line basis over the lease term.

We have lease agreements with lease and non-lease components which are accounted for as a single lease component.

Use of Estimates

The preparation of financial statements in conformity with U.S. generally accepted accounting principles (GAAP) requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.

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 long-term contract’s percentage-of-completion. When the current estimates of total sales and costs for a long-term contract indicate a loss, a provision for the entire reach-forward loss on the long-term contract is recognized.

Net cumulative catch-up adjustments to prior years' revenue and earnings, including certain reach-forward losses, across all long-term contracts were as follows:

(In millions - except per share amounts)	Nine months ended September 30					Three months ended September 30
	2019		2018			2019			2018
Increase/(decrease) to Revenue		$166		($14	)		($63	)		($59	)
Increase/(decrease) to Earnings from Operations		$152		($314	)		($23	)		($155	)
Increase/(decrease) to Diluted EPS		$1.20		($0.50	)		($0.04	)		($0.30	)

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Contracts with Customers Contracts with Customers

9 Months Ended

Sep. 30, 2019

Revenue from Contract with Customer [Abstract]

Long-term Contracts or Programs Disclosure [Text Block]

Contracts with Customers

Unbilled receivables increased from $10,025 at December 31, 2018 to $11,078 at September 30, 2019, primarily driven by revenue recognized at BDS and BGS in excess of billings.

Advances and progress billings increased from $50,676 at December 31, 2018 to $53,167 at September 30, 2019, primarily driven by advances on orders received in excess of revenue recognized at BCA, BDS and BGS.

Revenues recognized during the nine months ended September 30, 2019 and 2018 from amounts recorded as Advances and progress billings at the beginning of each year were $13,216 and $19,006. Revenues recognized during the three months ended September 30, 2019 and 2018 from amounts recorded as Advances and progress billings at the beginning of each year were $3,100 and $6,249.

Certain commercial airplane customers are experiencing liquidity issues and seeking additional capital. Should these customers fail to address their liquidity issues, accounts receivable, unbilled receivables and certain inventory could become impaired. In addition we would have to remove contracts related to these customers from backlog and remarket any undelivered aircraft.

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Condensed Consolidated Statements Of Equity (Parenthetical) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Statement of Stockholders' Equity [Abstract]
Other Comprehensive Income, tax, portion attrib to parent	$ 12	$ 52	$ 60	$ 133
Common Stock, Dividends, Per Share, Declared			$ 4.11	$ 3.42

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Derivative Financial Instruments Derivative Financial Instruments (Schedule of Gains/(losses) reclassified from AOCI to Earnings) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Operating Expense [Member]
Derivative [Line Items]
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), Reclassification, before Tax		$ 1	$ 1	$ 1
General and Administrative Expense [Member]
Derivative [Line Items]
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), Reclassification, before Tax	1	1	1
Sales [Member]
Derivative [Line Items]
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), Reclassification, before Tax	(6)
Operating Expense [Member]
Derivative [Line Items]
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), Reclassification, before Tax	(9)	(9)	(21)	(17)
General and Administrative Expense [Member]
Derivative [Line Items]
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), Reclassification, before Tax	$ (18)	$ (5)	$ (9)	$ (8)

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Shareholders' Equity (Accumulated other comprehensive income) (Details) - USD ($) $ in Millions		3 Months Ended		9 Months Ended
		Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning Balance	[1]	$ (14,908)	$ (16,139)	$ (15,083)	$ (16,373)
OCI before reclassifications	[1]	(139)	(3)	(149)	(152)
Amounts reclassified from AOCI	[1]	120	193	305	576
Net current period Other comprehensive income/(loss)	[1]	(19)	190	156	424
Ending Balance	[1]	(14,927)	(15,949)	(14,927)	(15,949)
Other Comprehensive Income (Loss), Defined Benefit Plan, Gain (Loss), Reclassification Adjustment from AOCI, after Tax		117	219	350	657
Amortization of actuarial losses included in net periodic pension cost, tax		(32)	(60)	(97)	(182)
Currency Translation Adjustments [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning Balance		(103)	(72)	(101)	(15)
OCI before reclassifications		(59)	2	(61)	(55)
Net current period Other comprehensive income/(loss)		(59)	2	(61)	(55)
Ending Balance		(162)	(70)	(162)	(70)
Unrealized Gains and Losses on Certain Investments [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning Balance		1	1		(2)
OCI before reclassifications				1	3
Net current period Other comprehensive income/(loss)				1	3
Ending Balance		1	1	1	1
Unrealized Gains and Losses on Derivative Instruments [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning Balance		(82)	(29)	(62)	54
OCI before reclassifications		(89)	(4)	(106)	(97)
Amounts reclassified from AOCI		25	9	22	19
Net current period Other comprehensive income/(loss)		(64)	5	(84)	(78)
Ending Balance		(146)	(24)	(146)	(24)
Defined Benefit Pension Plans and Other Postretirement Benefits [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning Balance		(14,724)	(16,039)	(14,920)	(16,410)
OCI before reclassifications		9	(1)	17	(3)
Amounts reclassified from AOCI	[2]	95	184	283	557
Net current period Other comprehensive income/(loss)		104	183	300	554
Ending Balance		$ (14,620)	$ (15,856)	$ (14,620)	$ (15,856)

[1] Net of tax.

[2] Primarily relates to amortization of actuarial losses for the nine and three months ended September 30, 2018 totaling $657 and $219 (net of tax of ($182) and ($60)) and for the nine and three months ended September 30, 2019 totaling $350 and $117 (net of tax of ($97) and ($32)). These are included in the net periodic pension cost.

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Segment and Revenue Information Segment and Revenue Information (Schedule of Revenue Disaggregation) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019		Sep. 30, 2018
Disaggregation of Revenue [Line Items]
Revenues	$ 19,980	$ 25,146	$ 58,648		$ 72,786
Unallocated items, eliminations and other [Member]
Disaggregation of Revenue [Line Items]
Revenues	(35)	(40)	(437)		(62)
Global Services [Member] | Operating Segments [Member]
Disaggregation of Revenue [Line Items]
Revenues	4,658	4,101	13,820		12,148
Global Services [Member] | Operating Segments [Member] | Commercial Customers [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	2,510	2,167	7,621		6,419
Global Services [Member] | Operating Segments [Member] | Government Customers [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	2,101	1,882	6,075		5,584
Global Services [Member] | Operating Segments [Member] | External Customers [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	$ 4,611	$ 4,049	$ 13,696		$ 12,003
Global Services [Member] | Operating Segments [Member] | U S Government Contracts [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, excluding assessed tax, Percentage	35.00%	32.00%	33.00%		32.00%
Global Services [Member] | Operating Segments [Member] | Fixed-price Contract [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, excluding assessed tax, Percentage	90.00%	85.00%	89.00%		88.00%
Global Services [Member] | Operating Segments [Member] | Transferred at Point in Time [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, excluding assessed tax, Percentage	54.00%	52.00%	56.00%		52.00%
Global Services [Member] | Unallocated items, eliminations and other [Member]
Disaggregation of Revenue [Line Items]
Revenues	$ 47	$ 52	$ 124		$ 145
Commercial Airplanes Segment [Member] | Operating Segments [Member]
Disaggregation of Revenue [Line Items]
Revenues	8,249	14,071	24,793		40,968
Commercial Airplanes Segment [Member] | Operating Segments [Member] | External Customers [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	$ 8,242	$ 14,063	$ 24,609		$ 40,941
Commercial Airplanes Segment [Member] | Operating Segments [Member] | Fixed-price Contract [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, excluding assessed tax, Percentage	100.00%	100.00%	100.00%		100.00%
Commercial Airplanes Segment [Member] | Operating Segments [Member] | Transferred at Point in Time [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, excluding assessed tax, Percentage	100.00%	99.00%	100.00%		100.00%
Commercial Airplanes Segment [Member] | Operating Segments [Member] | Non-US [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	$ 5,238	$ 11,141	$ 19,628		$ 30,117
Commercial Airplanes Segment [Member] | Operating Segments [Member] | Europe
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	1,260	1,882	3,944		7,189
Commercial Airplanes Segment [Member] | Operating Segments [Member] | China
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	1,237	4,677	4,393		9,433
Commercial Airplanes Segment [Member] | Operating Segments [Member] | Asia Other Than China
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	1,454	1,886	5,832		5,966
Commercial Airplanes Segment [Member] | Operating Segments [Member] | Middle East
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	1,121	1,598	2,926		3,931
Commercial Airplanes Segment [Member] | Operating Segments [Member] | Other
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	166	1,098	2,533		3,598
Commercial Airplanes Segment [Member] | Operating Segments [Member] | United States
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	3,004	2,922	10,591		10,824
Commercial Airplanes Segment [Member] | Unallocated items, eliminations and other [Member]
Disaggregation of Revenue [Line Items]
Revenues	7	8	184		27
Defense, Space & Security [Member] | Operating Segments [Member]
Disaggregation of Revenue [Line Items]
Revenues	$ 7,042	$ 6,937	$ 20,265		$ 19,518
Defense, Space & Security [Member] | Operating Segments [Member] | U S Government Contracts [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, excluding assessed tax, Percentage	90.00%	88.00%	89.00%		88.00%
Defense, Space & Security [Member] | Operating Segments [Member] | Fixed-price Contract [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, excluding assessed tax, Percentage	70.00%	70.00%	69.00%		69.00%
Defense, Space & Security [Member] | Operating Segments [Member] | Transferred over Time [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, excluding assessed tax, Percentage	97.00%	98.00%	98.00%		98.00%
Defense, Space & Security [Member] | Operating Segments [Member] | Non-US [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	$ 1,583	$ 1,556	$ 5,031		$ 4,932
Defense, Space & Security [Member] | Operating Segments [Member] | United States
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	5,459	$ 5,381	15,234		$ 14,586
B-737-Max [Member] | Customer Concessions [Member] | Commercial Airplanes Segment [Member] | Operating Segments [Member]
Disaggregation of Revenue [Line Items]
Revenue from Contract with Customer, Excluding Assessed Tax	$ (5,610)		$ (5,610)	[1]

[1] Net of insurance recoveries

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Fair Value Measurements Fair Value, Assets Measured on Nonrecurring Basis Using Unobservable Inputs (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Nonrecurring fair value losses	$ (106)	$ (63)
Fair Value Measurements Nonrecurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Nonrecurring fair value losses	(106)	(63)
Fair Value Measurements Nonrecurring [Member] | Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, Fair Value Disclosure	105	45
Operating Lease Equipment And Assets Held For Sale Or Re-Lease [Member] | Fair Value Measurements Nonrecurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Nonrecurring fair value losses	(1)	(16)
Operating Lease Equipment And Assets Held For Sale Or Re-Lease [Member] | Fair Value Measurements Nonrecurring [Member] | Level 3 [Member] | Valuation, Market Approach [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, Fair Value Disclosure	10	45
Property, Plant and Equipment [Member] | Fair Value Measurements Nonrecurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Nonrecurring fair value losses	(4)
Property, Plant and Equipment [Member] | Fair Value Measurements Nonrecurring [Member] | Level 3 [Member] | Valuation, Income Approach [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, Fair Value Disclosure	41
Investments [Member] | Fair Value Measurements Nonrecurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Nonrecurring fair value losses	(84)	$ (47)
Investments [Member] | Fair Value Measurements Nonrecurring [Member] | Level 3 [Member] | Valuation, Income Approach [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, Fair Value Disclosure	51
Other assets and Acquired intangible assets [Member] | Fair Value Measurements Nonrecurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Nonrecurring fair value losses	(17)
Other assets and Acquired intangible assets [Member] | Fair Value Measurements Nonrecurring [Member] | Level 3 [Member] | Valuation, Income Approach [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, Fair Value Disclosure	$ 3

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Arrangements With Off-Balance Sheet Risk (Third Party Guarantees) (Details) - USD ($) $ in Millions	Sep. 30, 2019	Dec. 31, 2018
Credit Guarantee [Member]
Guarantor Obligations [Line Items]
Maximum Potential Payments	$ 92	$ 106
Estimated Proceeds from Collateral or Recourse	33	51
Carrying Amount of Liabilities	16	16
Contingent Repurchase Commitments [Member]
Guarantor Obligations [Line Items]
Maximum Potential Payments	1,599	1,685
Estimated Proceeds from Collateral or Recourse	1,599	1,685
Carrying Amount of Liabilities
ULA [Member] | Contributed Delta Program Launch Inventory [Member]
Guarantor Obligations [Line Items]
Maximum Potential Payments	30	52
ULA [Member] | Other Delta Contracts [Member]
Guarantor Obligations [Line Items]
Maximum Potential Payments	176	176
Carrying Amount of Liabilities
Deferred support costs [Member] | Other Delta Contracts [Member]
Guarantor Obligations [Line Items]
Maximum Potential Payments	85
Deferred production costs [Member] | Other Delta Contracts [Member]
Guarantor Obligations [Line Items]
Maximum Potential Payments	$ 91

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Income Taxes (Details) - USD ($)	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018	Dec. 31, 2019
Income Tax Examination [Line Items]
Effective income tax rate	0.80%	(10.80%)	(350.60%)	6.90%
State and Local Jurisdiction
Income Tax Examination [Line Items]
Significant Change in Unrecognized Tax Benefits is Reasonably Possible, Amount of Unrecorded Benefit	$ 480,000,000		$ 480,000,000
Tax Year 2013-2014 [Member]
Income Tax Examination [Line Items]
Effective Income Tax Rate Reconciliation, Tax Settlement, Domestic, Amount				$ 412
Forecast [Member]
Income Tax Examination [Line Items]
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent					21.00%

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Customer Financing (Narrative) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Mar. 31, 2019	Sep. 30, 2019	Sep. 30, 2018	Dec. 31, 2018
Customer Financing [Line Items]
Financing Receivable, Individually Evaluated for Impairment	$ 401		$ 401		$ 409
Impaired Financing Receivable, Recorded Investment	388		388		398
Operative lease incentive					250
Asset Impairment Charges			106	$ 63
Sales-Type and Direct Financing Leases, Lease Income	15		47
Operating Lease, Lease Income	34		105
Operating Lease, Variable Lease Income	6		14
Sales-type, Direct Financing Leases, Residual Value of Leased Asset	$ 403		$ 403		$ 425
B Credit Rating [Member]
Customer Financing [Line Items]
Percentage of Credit Default Rates Applied to Customers	22.10%		22.10%
BB Credit Rating [Member]
Customer Financing [Line Items]
Percentage of Credit Default Rates Applied to Customers	5.80%		5.80%
BBB Credit Rating [Member]
Customer Financing [Line Items]
Percentage of Credit Default Rates Applied to Customers	0.60%		0.60%
Lease Incentive Receivable [Member]
Customer Financing [Line Items]
Asset Impairment Charges		$ 250

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Customer Financing (Tables)

9 Months Ended

Sep. 30, 2019

Customer Financing [Abstract]

Schedule Of Customer Financing

Customer financing primarily relates to the Boeing Capital (BCC) segment and consisted of the following:

	September 30 2019			December 31 2018
Financing receivables:
Investment in sales-type/finance leases		$1,016			$1,125
Notes	446			730
Total financing receivables	1,462			1,855
Operating lease equipment, at cost, less accumulated depreciation of $245 and $203	789			782
Operative lease incentive				250
Gross customer financing	2,251			2,887
Less allowance for losses on receivables	(8		)	(9		)
Total		$2,243			$2,878

Financing Receivable Credit Quality Indicators

Our financing receivable balances by internal credit rating category are shown below: 

Rating categories	September 30 2019		December 31 2018
BBB		$594		$883
BB	348		430
B	125		135
CCC	395		407
Total carrying value of financing receivables		$1,462		$1,855

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:

	September 30 2019		December 31 2018
717 Aircraft ($184 and $204 accounted for as operating leases)		$778		$918
747-8 Aircraft ($130 and $132 accounted for as operating leases)	474		477
737 Aircraft ($243 and $263 accounted for as operating leases)	266		290
757 Aircraft ($22 and $24 accounted for as operating leases)	186		200
MD-80 Aircraft (accounted for as sales-type finance leases)	184		204
777 Aircraft ($126 and $60 accounted for as operating leases)	131		68
747-400 Aircraft ($33 and $45 accounted for as operating leases)	95		116

Customer Financing, Lease Receivable Maturity

As of September 30, 2019, undiscounted cash flows for sales-type/finance and operating leases over the next five years and thereafter are as follows:

	Sales-type/finance leases			Operating leases
Year 1		$179			$118
Year 2	134			93
Year 3	97			83
Year 4	109			61
Year 5	121			46
Thereafter	140			57
Total lease receipts	780			458
Less imputed interest	(167		)
Estimated unguaranteed residual values	403
Total		$1,016			$458

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Summary Of Business Segment Data Summary of Business Segment Data (Tables)

9 Months Ended

Sep. 30, 2019

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

Schedule of Segment Reporting Information, by Segment [Table Text Block]

(Dollars in millions)	Nine months ended September 30						Three months ended September 30
	2019			2018			2019			2018
Revenues:
Commercial Airplanes		$24,793			$40,968			$8,249			$14,071
Defense, Space & Security	20,265			19,518			7,042			6,937
Global Services	13,820			12,148			4,658			4,101
Boeing Capital	207			214			66			77
Unallocated items, eliminations and other	(437		)	(62		)	(35		)	(40		)
Total revenues		$58,648			$72,786			$19,980			$25,146
(Loss)/earnings from operations:
Commercial Airplanes		($3,813	)		$5,230			($40	)		$2,033
Defense, Space & Security	2,577			886			755			(247		)
Global Services	2,013			1,799			673			548
Boeing Capital	86			71			29			27
Segment operating profit	863			7,986			1,417			2,361
Unallocated items, eliminations and other	(1,727		)	(1,193		)	(522		)	(471		)
FAS/CAS service cost adjustment	1,093			1,019			364			337
Earnings from operations	229			7,812			1,259			2,227
Other income	334			63			121			12
Interest and debt expense	(480		)	(317		)	(203		)	(106		)
Earnings before income taxes	83			7,558			1,177			2,133
Income tax benefit/(expense)	291			(522		)	(10		)	230
Net earnings		$374			$7,036			$1,167			$2,363

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Summary Of Business Segment Data Summary of Business Segment Data (Notes)

9 Months Ended

Sep. 30, 2019

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

Summary Of Business Segment Data

The Boeing Company and Subsidiaries

Notes to Condensed Consolidated Financial Statements

Summary of Business Segment Data

(Unaudited)

(Dollars in millions)	Nine months ended September 30						Three months ended September 30
	2019			2018			2019			2018
Revenues:
Commercial Airplanes		$24,793			$40,968			$8,249			$14,071
Defense, Space & Security	20,265			19,518			7,042			6,937
Global Services	13,820			12,148			4,658			4,101
Boeing Capital	207			214			66			77
Unallocated items, eliminations and other	(437		)	(62		)	(35		)	(40		)
Total revenues		$58,648			$72,786			$19,980			$25,146
(Loss)/earnings from operations:
Commercial Airplanes		($3,813	)		$5,230			($40	)		$2,033
Defense, Space & Security	2,577			886			755			(247		)
Global Services	2,013			1,799			673			548
Boeing Capital	86			71			29			27
Segment operating profit	863			7,986			1,417			2,361
Unallocated items, eliminations and other	(1,727		)	(1,193		)	(522		)	(471		)
FAS/CAS service cost adjustment	1,093			1,019			364			337
Earnings from operations	229			7,812			1,259			2,227
Other income	334			63			121			12
Interest and debt expense	(480		)	(317		)	(203		)	(106		)
Earnings before income taxes	83			7,558			1,177			2,133
Income tax benefit/(expense)	291			(522		)	(10		)	230
Net earnings		$374			$7,036			$1,167			$2,363

This information is an integral part of the Notes to the Condensed Consolidated Financial Statements. See Note 20 for further segment results.

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Inventories

9 Months Ended

Sep. 30, 2019

Inventory Disclosure [Abstract]

Inventories

Inventories

Inventories consisted of the following:

	September 30 2019		December 31 2018
Long-term contracts in progress		$966		$2,129
Commercial aircraft programs	63,518		52,753
Commercial spare parts, used aircraft, general stock materials and other	8,795		7,685
Total		$73,279		$62,567

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 $176 and $227 at September 30, 2019 and December 31, 2018. See indemnifications to ULA in Note 12.

Included in inventories are capitalized precontract costs of $679 at September 30, 2019 primarily related to the KC-46A Tanker and Commercial Crew and $644 at December 31, 2018 primarily related to the KC-46A Tanker. See Note 11.

Commercial Aircraft Programs

At September 30, 2019 and December 31, 2018, commercial aircraft programs inventory included the following amounts related to the 787 program: $26,593 and $27,852 of work in process (including deferred production costs of $19,825 and $22,967), $2,273 and $2,453 of supplier advances, and $2,215 and $2,638 of unamortized tooling and other non-recurring costs. At September 30, 2019, $14,454 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 $7,586 is expected to be recovered from units included in the program accounting quantity that represent expected future orders.

At September 30, 2019 and December 31, 2018, commercial aircraft programs inventory included $1,481 and $463 of deferred production costs and $522 and $471 of unamortized tooling and other non-recurring costs related to the 737 program. At September 30, 2019, $1,999 of 737 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 $4 is expected to be recovered from units included in the program accounting quantity that represent expected future orders.

Commercial aircraft programs inventory included amounts credited in cash or other consideration (early issue sales consideration) to airline customers totaling $2,767 and $2,844 at September 30, 2019 and December 31, 2018.

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Condensed Consolidated Statement of Cash Flows Consolidated Statements of Cash Flows - USD ($) $ in Millions		9 Months Ended
		Sep. 30, 2019	Sep. 30, 2018
Cash flows - operation activities:
Net earnings		$ 374	$ 7,036
Non-cash items -
Share-based plans expense		160	150
Depreciation and amortization		1,643	1,531
Asset Impairment Charges		106	63
Customer financing valuation adjustments		249	(3)
Gain on dispositions, net		(296)	(76)
Other charges and credits, net		190	158
Changes in assets and liabilities -
Accounts receivable		315	10
Unbilled receivables		(1,053)	(1,732)
Advances and progress billings		2,355	3,457
Inventories		9,565	173
Other current assets		(224)	(5)
Accounts payable		1,626	1,181
Accrued liabilities		5,495	890
Income taxes receivable, payable and deferred		(989)	(252)
Other long-term liabilities		(577)	1
Pension and other postretirement plans		(570)	(89)
Customer financing, net		391	(175)
Other		144	403
Net cash (used)/provided by operating activities		(226)	12,375
Cash flows - investing activities:
Property, plant and equipment additions		(1,387)	(1,227)
Property, plant and equipment reductions		334	117
Acquisitions, net of cash acquired		(492)	(250)
Contributions to investments		(1,439)	(2,145)
Proceeds from investments		967	1,369
Purchase of distribution rights		(20)	(56)
Other		(10)	(5)
Net cash used by investing activities		(2,047)	(2,197)
Cash flows - financing activities:
New borrowings		19,621	4,696
Debt repayments		(8,978)	(4,029)
Contributions from noncontrolling interests		7	35
Stock options exercised		51	70
Employee taxes on certain share-based payment arrangements		(241)	(247)
Common shares repurchased		(2,651)	(8,415)
Dividends paid		(3,473)	(2,976)
Net cash provided/(used) by financing activities		4,336	(10,866)
Effect of exchange rate changes on cash and cash equivalents, including restricted		(27)	(37)
Net increase/(decrease) in cash & cash equivalents, including restricted		2,036	(725)
Cash & cash equivalents, including restricted, at beginning of year		7,813	8,887
Cash & cash equivalents, including restricted, at end of period		9,849	8,162
Restricted Cash and Cash Equivalents	[1]	(86)	(128)
Cash and cash equivalents at end of period		$ 9,763	$ 8,034

[1] Reflects amounts restricted in support of our workers’ compensation programs, employee benefit programs, and insurance premiums.

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Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2019	Oct. 16, 2019
Document Information [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2019
Document Transition Report	false
Entity File Number	1-442
Entity Registrant Name	BOEING CO
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	91-0425694
Entity Address, Address Line One	100 N. Riverside Plaza,
Entity Address, City or Town	Chicago,
Entity Address, State or Province	IL
Entity Address, Postal Zip Code	60606-1596
City Area Code	(312)
Local Phone Number	544-2000
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Title of 12(b) Security	Common Stock, $5.00 Par Value
Trading Symbol	BA
Security Exchange Name	NYSE
Entity Common Stock, Shares Outstanding		562,791,233
Amendment Flag	false
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	Q3
Entity Central Index Key	0000012927
Current Fiscal Year End Date	--12-31

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Condensed Consolidated Statements Of Financial Position - USD ($) $ in Millions		Sep. 30, 2019	Dec. 31, 2018
Assets
Cash and cash equivalents		$ 9,763	$ 7,637
Short-term and other investments		1,150	927
Accounts receivable, net		3,564	3,879
Unbilled receivables, net		11,078	10,025
Current portion of customer financing, net		166	460
Inventories		73,279	62,567
Other current assets		2,656	2,335
Total current assets		101,656	87,830
Customer financing, net		2,077	2,418
Property, plant and equipment, net of accumulated depreciation of $19,125 and $18,568		12,527	12,645
Goodwill		8,063	7,840
Acquired intangible assets, net		3,587	3,429
Deferred income taxes		296	284
Investments		1,117	1,087
Other assets, net of accumulated amortization of $561 and $503		3,275	1,826
Total assets		132,598	117,359
Liabilities and equity
Accounts payable		15,101	12,916
Accrued liabilities		19,224	14,808
Advances and progress billings		53,167	50,676
Short-term debt and current portion of long-term debt		4,354	3,190
Total current liabilities		91,846	81,590
Deferred income taxes		1,615	1,736
Accrued retiree health care		4,437	4,584
Accrued pension plan liability, net		14,590	15,323
Other long-term liabilities		3,621	3,059
Long-term debt		20,298	10,657
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		6,688	6,768
Treasury stock, at cost - 449,472,403 and 444,619,970 shares		54,924	52,348
Retained earnings		53,986	55,941
Accumulated other comprehensive loss	[1]	(14,927)	(15,083)
Total shareholders’ equity		(4,116)	339
Noncontrolling interests		307	71
Total equity		(3,809)	410
Total liabilities and equity		$ 132,598	$ 117,359

[1] Net of tax.

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Other Assets

9 Months Ended

Sep. 30, 2019

Other Assets [Abstract]

Other Assets

Other Assets

Sea Launch

At September 30, 2019 and December 31, 2018, Other assets included $244 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. At September 30, 2019, the net amounts owed to Boeing by each of the partners were as follows: S.P. Koroley Rocket and Space Corporation Energia of Russia (RSC Energia) – $111, 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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Debt

9 Months Ended

Sep. 30, 2019

Debt Disclosure [Abstract]

Debt Disclosure [Text Block]

In the first quarter of 2019, we issued $1,500 of fixed rate senior notes consisting of $400 due March 1, 2024 that bear an annual interest rate of 2.8%, $400 due March 1, 2029 that bear an annual interest rate of 3.2%, $400 due March 1, 2039 that bear an annual interest rate of 3.5%, and $300 due March 1, 2059 that bear an annual interest rate of 3.825%. 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 $1,451, after deducting underwriting discounts, commissions and offering expenses.

In the second quarter of 2019, we issued $3,500 of fixed rate senior notes consisting of $600 due May 1, 2022 that bear an annual interest rate of 2.7%, $650 due May 1, 2026 that bear an annual interest rate of 3.1%, $600 due March 1, 2029 that bear an annual interest rate of 3.2%, $850 due May 1, 2034 that bear an annual interest rate of 3.6%, and $800 due May 1, 2049 that bear an annual interest rate of 3.9%. 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 $3,454, after deducting underwriting discounts, commissions and offering expenses.

In the second quarter of 2019, we entered into a $1,500 short-term credit agreement, which is scheduled to terminate on October 30, 2019. At September 30, 2019, we had $6,620 of unused borrowing capacity on revolving credit line agreements.

In the third quarter of 2019, we issued $5,500 of fixed rate senior notes consisting of $750 due August 1, 2021 that bear an annual interest rate of 2.3%, $1,000 due February 1, 2027 that bear an annual interest rate of 2.7%, $750 due February 1, 2030 that bear an annual interest rate of 2.95%, $750 due February 1, 2035 that bear an annual interest rate of 3.25%, $1,250 due February 1, 2050 that bear an annual interest rate of 3.75%, and $1,000 due August 1, 2059 that bear an annual interest rate of 3.95%. 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 $5,442, after deducting underwriting discounts, commissions and offering expenses.

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Derivative Financial Instruments

9 Months Ended

Sep. 30, 2019

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Derivative Financial Instruments

Derivative Financial Instruments

Disclosures reflect the adoption of ASU 2017-12, Derivatives and Hedging (Topic 815), in the first quarter of 2019. Prior period amounts have not been restated.

Cash Flow Hedges

Our cash flow hedges include foreign currency forward contracts, commodity swaps 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 2025. We use commodity derivatives, such as fixed-price purchase commitments and swaps to hedge against potentially unfavorable price changes for items used in production. Our commodity contracts hedge forecasted transactions through 2023.

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 Condensed Consolidated Statements of Financial Position were as follows:

	Notional amounts (1)				Other assets						Accrued liabilities
	September 30 2019		December 31 2018		September 30 2019			December 31 2018			September 30 2019			December 31 2018
Derivatives designated as hedging instruments:
Foreign exchange contracts		$2,733		$3,407		$17			$32			($105	)		($132	)
Interest rate contracts	125		125
Commodity contracts	669		57		4			9			(93		)	(2		)
Derivatives not receiving hedge accounting treatment:
Foreign exchange contracts	824		414		6			11			(18		)	(2		)
Commodity contracts	1,713		478
Total derivatives		$6,064		$4,481		$27			$52			($216	)		($136	)
Netting arrangements					(20		)	(24		)	20			24
Net recorded balance						$7			$28			($196	)		($112	)

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

Gains/(losses) associated with our hedging transactions and forward points recognized in Other comprehensive income are presented in the following table: 

	Nine months ended September 30						Three months ended September 30
	2019			2018			2019			2018
Recognized in Other comprehensive income, net of taxes:
Foreign exchange contracts		($6	)		($80	)		($34	)		$4
Commodity contracts	(78		)	2			(30		)	1

Gains/(losses) associated with our hedging transactions and forward points reclassified from AOCI to earnings are presented in the following table:

	Nine months ended September 30						Three months ended September 30
	2019			2018			2019			2018
Foreign exchange contracts
Revenues								($6	)
Costs and expenses		($21	)		($17	)	(9		)		($9	)
General and administrative	(9		)	(8		)	(18		)	(5		)
Commodity contracts
Revenues
Costs and expenses	1			1						1
General and administrative expense	1						1			1

Gains/(losses) related to undesignated derivatives on foreign exchange cash flow hedging transactions recognized in Other income were gains of $1 and losses of $1 for the nine and three months ended September 30, 2019 and losses of $2 and $1 for the nine and three months ended September 30, 2018. Forward points related to foreign exchange cash flow hedging transactions recognized in Other income were gains of $5 and $0 for the nine and three months ended September 30, 2018.

Based on our portfolio of cash flow hedges, we expect to reclassify losses of $15 (pre-tax) out of Accumulated other comprehensive loss into earnings during the next 12 months.

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 September 30, 2019 was $42. At September 30, 2019, there was no collateral posted related to our derivatives.

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Customer Financing Customer Financing (Scheduled Receipts of Customer Financing) (Details) - USD ($) $ in Millions	Sep. 30, 2019	Dec. 31, 2018
Sales-type and Direct Financing Leases, Lease Receivable, Rolling Maturity [Abstract]
Sales-type and Direct Financing Leases, Lease Receivable, Payments to be Received, Next Rolling Twelve Months	$ 179
Sales-type and Direct Financing Leases, Lease Receivable, Lease Payments to be Received, Rolling Year Two	134
Sales-type and Direct Financing Leases, Lease Receivable, Lease Payments to be Received, Rolling Year Three	97
Sales-type and Direct Financing Leases, Lease Receivable, Payments to be Received, Rolling Year Four	109
Sales-type and Direct Financing Leases, Lease Receivable, Lease Payments to be Received, Rolling Year Five	121
Sales-type and Direct Financing Leases, Lease Receivable, Lease Payments to be Received, after Rolling Year Five	140
Sales-type and Direct Financing Leases, Lease Receivable, Payments to be Received	780
Sales-type and Direct Financing Leases, Lease Receivable, Undiscounted Excess Amount	(167)
Sales-type, Direct Financing Leases, Residual Value of Leased Asset	403	$ 425
Investment in sales-type/finance leases	1,016	$ 1,125
Lessor, Operating Lease, Payments, Rolling Maturity [Abstract]
Lessor, Operating Lease, Payments to be Received, Next Rolling Twelve Months	118
Lessor, Operating Lease, Payments to be Received, Rolling Year Two	93
Lessor, Operating Lease, Payments to be Received, Rolling Year Three	83
Lessor, Operating Lease, Payments to be Received, Rolling Year Four	61
Lessor, Operating Lease, Payments to be Received, Rolling Year Five	46
Lessor, Operating Lease, Payments to be Received, after Rolling Year Five	57
Lessor, Operating Lease, Payments to be Received	$ 458

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Leases Schedule of supplemental balance sheet information related to operating leases (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2019	Mar. 31, 2019
Lessor, Lease, Description [Line Items]
Document Period End Date	Sep. 30, 2019
Operating Lease, Right-of-Use Asset	$ 1,178
Operating Lease, Liability, Current	260
Operating Lease, Liability, Noncurrent	969
Operating Lease, Liability	$ 1,229
Operating Lease, Weighted Average Remaining Lease Term	9 years
Operating Lease, Weighted Average Discount Rate, Percent	3.07%
Accounting Standards Update 2016-02 [Member]
Lessor, Lease, Description [Line Items]
Operating Lease, Liability	$ 1,229	$ 1,064

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Commitments And Contingencies (Product Warranties) (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018
Product Warranties [Roll Forward]
Beginning balance – January 1	$ 1,127	$ 1,211
Additions for current year deliveries	128	176
Reductions for payments made	(166)	(135)
Changes in estimates	(7)	(151)
Ending balance – September 30	$ 1,082	$ 1,101

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Summary Of Business Segment Data (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Segment Reporting Information [Line Items]
Revenues	$ 19,980	$ 25,146	$ 58,648	$ 72,786
Earnings from operations	1,259	2,227	229	7,812
Other income	121	12	334	63
Interest and debt expense	(203)	(106)	(480)	(317)
(Loss)/earnings before income taxes	1,177	2,133	83	7,558
Income tax benefit/(expense)	(10)	230	291	(522)
Net earnings	1,167	2,363	374	7,036
Operating Segments [Member]
Segment Reporting Information [Line Items]
Earnings from operations	1,417	2,361	863	7,986
Operating Segments [Member] | Commercial Airplanes [Member]
Segment Reporting Information [Line Items]
Revenues	8,249	14,071	24,793	40,968
Earnings from operations	(40)	2,033	(3,813)	5,230
Operating Segments [Member] | Defense, Space & Security [Member]
Segment Reporting Information [Line Items]
Revenues	7,042	6,937	20,265	19,518
Earnings from operations	755	(247)	2,577	886
Operating Segments [Member] | Global Services [Member]
Segment Reporting Information [Line Items]
Revenues	4,658	4,101	13,820	12,148
Earnings from operations	673	548	2,013	1,799
Operating Segments [Member] | Boeing Capital [Member]
Segment Reporting Information [Line Items]
Revenues	66	77	207	214
Earnings from operations	29	27	86	71
Unallocated items, eliminations and other [Member]
Segment Reporting Information [Line Items]
Revenues	(35)	(40)	(437)	(62)
Unallocated items, eliminations and other	(522)	(471)	(1,727)	(1,193)
FAS/CAS service cost adjustment	$ 364	$ 337	$ 1,093	$ 1,019

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Shareholders' Equity (Tables)

9 Months Ended

Sep. 30, 2019

Equity [Abstract]

Accumulated other comprehensive income

Changes in Accumulated other comprehensive loss (AOCI) by component for the nine and three months ended September 30, 2019 and 2018 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, 2018		($15	)		($2	)		$54			($16,410	)			($16,373	)
Other comprehensive (loss)/income before reclassifications	(55		)	3			(97		)	(3		)		(152		)
Amounts reclassified from AOCI							19			557			(2)	576
Net current period Other comprehensive (loss)/income	(55		)	3			(78		)	554				424
Balance at September 30, 2018		($70	)		$1			($24	)		($15,856	)			($15,949	)
Balance at January 1, 2019		($101	)					($62	)		($14,920	)			($15,083	)
Other comprehensive (loss)/income before reclassifications	(61		)	1			(106		)	17				(149		)
Amounts reclassified from AOCI							22			283			(2)	305
Net current period Other comprehensive (loss)/income	(61		)	1			(84		)	300				156
Balance at September 30, 2019		($162	)		$1			($146	)		($14,620	)			($14,927	)
Balance at June 30, 2018		($72	)	$1				($29	)		($16,039	)			($16,139	)
Other comprehensive (loss)/income before reclassifications	2						(4		)	(1		)		(3		)
Amounts reclassified from AOCI							9			184			(2)	193
Net current period Other comprehensive (loss)/income	2						5			183				190
Balance at September 30, 2018		($70	)		$1			($24	)		($15,856	)			($15,949	)
Balance at June 30, 2019		($103	)		$1			($82	)		($14,724	)			($14,908	)
Other comprehensive (loss)/income before reclassifications	(59		)				(89		)	9				(139		)
Amounts reclassified from AOCI							25			95			(2)	120
Net current period Other comprehensive (loss)/income	(59		)				(64		)	104				(19		)
Balance at September 30, 2019		($162	)		$1			($146	)		($14,620	)			($14,927	)

⁽¹⁾     Net of tax.

⁽²⁾    Primarily relates to amortization of actuarial losses for the nine and three months ended September 30, 2018 totaling $657 and $219 (net of tax of ($182) and ($60)) and for the nine and three months ended September 30, 2019 totaling $350 and $117 (net of tax of ($97) and ($32)). These are included in the net periodic pension cost.