EX-12 2 d255574dex12.htm EX-12 EX-12

EXHIBIT (12)

Computation of Ratio of Earnings to Fixed Charges

The Boeing Company and Subsidiaries

(Dollars in millions)

 

Years ended December 31,

      2011        2010        2009        2008        2007   

Earnings before federal taxes on income

    $ 5,393      $ 4,507      $ 1,731      $ 3,995      $ 6,118   

Fixed charges excluding capitalized interest

      677        726        564        492        557   

Amortization of previously capitalized interest

      64        60        61        50        58   

Net adjustment for earnings from affiliates

      (38 )      (11 )      (10 )      (10 )      (28 ) 

Earnings available for fixed charges

    $ 6,096      $ 5,282      $ 2,346      $ 4,527      $ 6,705   

 

  

Fixed charges:

           

Interest and debt expense(1)

    $ 626      $ 676      $ 514      $ 425      $ 491   

Interest capitalized during the period

      57        48        90        99        117   

Rentals deemed representative of an interest factor

      51        50        50        67        66   

Total fixed charges

    $ 734      $ 774      $ 654      $ 591      $ 674   

 

  

Ratio of earnings to fixed charges

      8.3        6.8        3.6        7.7        9.9   

 

  

 

(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.