EX-12 2 d304990dex12.htm EXHIBIT 12 Exhibit 12

EXHIBIT (12)

Computation of Ratio of Earnings to Fixed Charges

The Boeing Company and Subsidiaries

(Dollars in millions)

 

      Three months
ended
March 31,
2012		      Years ended December 31,  
      2011     2010     2009     2008     2007  

Earnings before federal taxes on income

    $ 1,463       $ 5,393      $ 4,507      $ 1,731      $ 3,995      $ 6,118   

Fixed charges excluding capitalized interest

      160         677        726        564        492        557   

Amortization of previously capitalized interest

      18         64        60        61        50        58   

Net adjustment for earnings from affiliates

      3         (38 )      (11 )      (10 )      (10 )      (28 ) 

 

  

Earnings available for fixed charges

    $ 1,644       $ 6,096      $ 5,282      $ 2,346      $ 4,527      $ 6,705   

 

  

Fixed charges:

              

Interest and debt expense (1)

    $ 147       $ 626      $ 676      $ 514      $ 425      $ 491   

Interest capitalized during the period

      19         57        48        90        99        117   

Rentals deemed representative of an interest factor

      13         51        50        50        67        66   

 

  

Total fixed charges

    $ 179       $ 734      $ 774      $ 654      $ 591      $ 674   

 

  

Ratio of earnings to fixed charges

      9.2         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 Condensed Consolidated Statements of Comprehensive Income.