EX-12 5 dex12.htm COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES. Computation of Ratio of Earnings to Fixed Charges.

EXHIBIT (12)

Computation of Ratio of Earnings to Fixed Charges

The Boeing Company and Subsidiaries

(Dollars in millions)

 

Years ended December 31,

      2010        2009        2008        2007        2006   

Earnings before federal taxes on income

    $ 4,507      $ 1,731      $ 3,995      $ 6,118      $ 3,194   

Fixed charges excluding capitalized interest

      726        564        492        557        636   

Amortization of previously capitalized interest

      60        61        50        58        51   

Net adjustment for earnings from affiliates

      (11 )      (10 )      (10 )      (28 )      (12 ) 

Earnings available for fixed charges

    $ 5,282      $ 2,346      $ 4,527      $ 6,705      $ 3,869   
   

Fixed charges:

           

Interest and debt expense(1)

    $ 676      $ 514      $ 425      $ 491      $ 593   

Interest capitalized during the period

      48        90        99        117        110   

Rentals deemed representative of an interest factor

      50        50        67        66        43   

Total fixed charges

    $ 774      $ 654      $ 591      $ 674      $ 746   
   

Ratio of earnings to fixed charges

      6.8        3.6        7.7        9.9        5.2   
   

 

(1)  

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

 

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