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Segment and Revenue Information (Tables)
9 Months Ended
Sep. 30, 2025
Segment Reporting [Abstract]  
Reconciliation of Revenue from Segments to Consolidated The following tables reconcile segment Revenues to Segment operating loss:
BCABDSBGS
For the nine months ended September 30,
202520242025202420252024
Revenues$30,115 $18,099 $19,817 $18,507 $15,714 $14,835 
Less:
Research and development expense, net1,657 1,852 618 728 91 103 
Other segment items(1)
34,905 22,126 18,820 20,925 12,693 12,112 
Segment operating (loss)/earnings
($6,447)($5,879)$379 ($3,146)$2,930 $2,620 
For the three months ended September 30,
202520242025202420252024
Revenues$11,094 $7,443 $6,902 $5,536 $5,370 $4,901 
Less:
Research and development expense, net565 779 198 234 32 36 
Other segment items(1)
15,882 10,685 6,590 7,686 4,400 4,031 
Segment operating (loss)/earnings($5,353)($4,021)$114 ($2,384)$938 $834 
(1)    Primarily includes costs of products and services and general and administrative expenses.
Schedule of Disaggregation of Revenue
BCA revenues by customer location consisted of the following:
(Dollars in millions)Nine months ended September 30Three months ended September 30
2025202420252024
Revenue from contracts with customers:
Europe$3,789 $3,046 $2,291 $1,499 
Asia8,888 7,028 3,509 2,635 
Middle East3,026 1,618 1,266 444 
Other non-U.S.1,969 1,245 781 491 
Total non-U.S. revenues17,672 12,937 7,847 5,069 
United States12,326 5,512 3,182 2,354 
Estimated potential concessions and other considerations to 737 MAX customers, net of insurance recoveries
5 (443) 
Total revenues from contracts with customers30,003 18,006 11,029 7,423 
Intersegment revenues eliminated on consolidation112 93 65 20 
Total segment revenues$30,115 $18,099 $11,094 $7,443 
Revenue recognized on fixed-price contracts100 %100 %100 %100 %
Revenue recognized at a point in time100 %99 %100 %99 %
BDS revenues on contracts with customers, based on the customer's location, consisted of the following:
(Dollars in millions)Nine months ended September 30Three months ended September 30
2025202420252024
Revenue from contracts with customers:
U.S. customers$15,485 $14,324 $5,325 $4,361 
Non-U.S. customers(1)
4,332 4,183 1,577 1,175 
Total segment revenue from contracts with customers$19,817 $18,507 $6,902 $5,536 
Revenue recognized over time100 %99 %99 %99 %
Revenue recognized on fixed-price contracts57 %53 %56 %49 %
Revenue from the U.S. government(1)
91 %91 %91 %92 %
(1)Includes revenues earned from foreign military sales through the U.S. government.
BGS revenues consisted of the following:
(Dollars in millions)Nine months ended September 30Three months ended September 30
2025202420252024
Revenue from contracts with customers:
Commercial$9,055 $8,782 $3,088 $2,882 
Government6,337 5,764 2,169 1,935 
Total revenues from contracts with customers15,392 14,546 5,257 4,817 
Intersegment revenues eliminated on consolidation322 289 113 84 
Total segment revenues$15,714 $14,835 $5,370 $4,901 
Revenue recognized at a point in time53 %53 %53 %53 %
Revenue recognized on fixed-price contracts86 %87 %85 %86 %
Revenue from the U.S. government(1)
30 %29 %30 %29 %
(1)Includes revenues earned from foreign military sales through the U.S. government.
Schedule of Segment, Reconciliation of Other Items from Segments to Consolidated Components of Unallocated items, eliminations and other income/(expense) are shown in the following table.
Nine months ended September 30Three months ended September 30
2025202420252024
Share-based plans($40)$118 $11 $65 
Deferred compensation(150)(100)(70)(51)
Amortization of previously capitalized interest(64)(70)(22)(24)
Research and development expense, net(285)(293)(102)(105)
Eliminations and other unallocated items(1,606)(1,019)(565)(303)
Unallocated items, eliminations and other
($2,145)($1,364)($748)($418)
Components of Financial Accounting Standards and Cost Accounting Standards Adjustment These expenses are included in Other income, net. Components of FAS/CAS service cost adjustment are shown in the following table:
Nine months ended September 30Three months ended September 30
2025202420252024
Pension FAS/CAS service cost adjustment$588 $608 $198 $148 
Postretirement FAS/CAS service cost adjustment199 224 70 80 
FAS/CAS service cost adjustment$787 $832 $268 $228 
Reconciliation of Assets from Segment to Consolidated
Segment assets are summarized in the table below:
September 30
2025
December 31
2024
Commercial Airplanes$78,678 $84,177 
Defense, Space & Security16,371 15,350 
Global Services17,338 16,704 
Unallocated items, eliminations and other37,636 40,132 
Total$150,023 $156,363 
Schedule of Capital Expenditures by Segment
Nine months ended September 30Three months ended September 30
2025202420252024
Commercial Airplanes$409 $357 $166 $131 
Defense, Space & Security206 195 93 60 
Global Services122 111 53 40 
Unallocated items, eliminations and other1,249 919 573 380 
Total$1,986 $1,582 $885 $611 
Schedule of Depreciation and Amortization by Segment
Nine months ended September 30Three months ended September 30
2025202420252024
Commercial Airplanes$323 $283 $111 $88 
Defense, Space & Security
159 153 56 57 
Global Services225 227 79 75 
Centrally Managed Assets (1)
710 664 245 224 
Total$1,417 $1,327 $491 $444 
(1)Amounts shown in the table represent depreciation and amortization expense recorded by the individual business segments. Depreciation and amortization for centrally managed assets are allocated to business segments based on usage and occupancy. During the nine months ended September 30, 2025, $524 was allocated to the primary business segments, of which $252, $212, and $60 was allocated to BCA, BDS and BGS, respectively. During the nine months ended September 30, 2024, $460 was allocated to the primary business segments, of which $225, $182, and $53 was allocated to BCA, BDS and BGS, respectively. During the three months ended September 30, 2025, $173 was allocated to the primary business segments, of which $80, $72, and $21 was allocated to BCA, BDS and BGS, respectively. During the three months ended September 30, 2024, $118 was allocated to the primary business segments, of which $59, $44, and $15 was allocated to BCA, BDS and BGS, respectively.