Earnings Per Share

3 Months Ended

Mar. 31, 2026

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 attributable to Boeing shareholders, less Mandatory convertible preferred stock dividends accumulated during the period and earnings available to participating securities, divided by the basic weighted average common shares outstanding.

Diluted earnings per share is calculated by taking net earnings attributable to Boeing shareholders, less Mandatory convertible preferred stock dividends accumulated during the period and earnings available to participating securities, divided by the diluted weighted average common shares outstanding. Diluted weighted average common shares outstanding is calculated using the treasury stock method for share-based compensation awards and the if-converted method for Mandatory convertible preferred stock and Spirit Exchangeable Notes. Under the if-converted method, if the potential conversion of our Mandatory convertible preferred stock and/or Spirit Exchangeable Notes is dilutive, net earnings attributable to Boeing shareholders is adjusted to add back the Mandatory convertible preferred stock dividends accumulated during the period and/or the periodic interest expense on the Spirit Exchangeable Notes, net of tax.

The elements used in the computation of Basic and Diluted loss per share were as follows:


(In millions - except per share amounts)	Three months ended March 31
	2026	2025

Net loss attributable to Boeing shareholders	($4)	($37)
Less: Mandatory convertible preferred stock dividends accumulated during the period	86	86
Less: earnings available to participating securities
Net loss available to common shareholders	($90)	($123)





Basic
Basic weighted average shares outstanding	788.2	753.6
Less: participating securities (1)	0.2	0.2
Basic weighted average common shares outstanding	788.0	753.4
Diluted


Diluted weighted average shares outstanding	788.2	753.6
Less: participating securities (1)	0.2	0.2
Diluted weighted average common shares outstanding	788.0	753.4
Net loss per share:
Basic	($0.11)	($0.16)
Diluted	(0.11)	(0.16)

(1)Participating securities include certain instruments in our deferred compensation plan.

The following table represents potential common shares that were not included in the computation of Diluted loss per share. Potential common shares from performance restricted stock units, restricted stock units and stock options were not included because their effect was antidilutive based on their strike price or the performance condition was not met.


(Shares in millions)	Three months ended March 31
	2026	2025


Performance restricted stock units	0.2	0.6
Restricted stock units	0.8	0.5
Stock options	0.7	0.9

In addition, potential common shares of 37.0 million and 37.1 million for the three months ended March 31, 2026 and 2025, were excluded from the computation of Diluted loss per share, because the effect would have been antidilutive as a result of incurring a net loss available to common shareholders in those periods.