10-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 10-K

(Mark One)

x ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the fiscal year ended December 31, 2014

or

¨ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from                          to                         

Commission file number 1-442

THE BOEING COMPANY

(Exact name of registrant as specified in its charter)

Delaware	91-0425694
State or other jurisdiction of incorporation or organization	(I.R.S. Employer Identification No.)
100 N. Riverside Plaza, Chicago, IL	60606-1596
(Address of principal executive offices)	(Zip Code)

Registrant’s telephone number, including area code (312) 544-2000 

Securities registered pursuant to Section 12(b) of the Act:

Common Stock, $5 par value	New York Stock Exchange
(Title of each class)	(Name of each exchange on which registered)

Securities registered pursuant to Section 12(g) of the Act:None

Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes x No ¨

Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act. Yes ¨ No x

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes x No ¨

Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (§ 232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files). Yes x No ¨

Indicate by check mark if disclosure of delinquent filers pursuant to Item 405 of Regulation S-K (§ 229.405 of this chapter) is not contained herein, and will not be contained, to the best of registrant’s knowledge, in definitive proxy or information statements incorporated by reference in Part III of this Form 10-K or any amendment to this Form 10-K. x

Indicate by check mark whether the registrant is a large accelerated filer, accelerated filer, a non-accelerated filer, or a smaller reporting company. See the definitions of “large accelerated filer,” “accelerated filer” and “smaller reporting company” in Rule 12b-2 of the Exchange Act.

Large accelerated filer x	Accelerated filer  ¨
Non-accelerated filer ¨ (Do not check if a smaller reporting company)	Smaller reporting company  ¨

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes ¨ No x

As of June 30, 2014, there were 721,356,642 common shares outstanding held by nonaffiliates of the registrant, and the aggregate market value of the common shares (based upon the closing price of these shares on the New York Stock Exchange) was approximately $91.8 billion.

The number of shares of the registrant’s common stock outstanding as of February 5, 2015 was 704,387,613.

DOCUMENTS INCORPORATED BY REFERENCE

Part III incorporates information by reference to the registrant’s definitive proxy statement, to be filed with the Securities and Exchange Commission within 120 days after the close of the fiscal year ended December 31, 2014.

THE BOEING COMPANY

Index to the Form 10-K

For the Fiscal Year Ended December 31, 2014

PART I			Page
	Item  1.	Business	1
	Item  1A.	Risk Factors	6
	Item  1B.	Unresolved Staff Comments	15
	Item  2.	Properties	16
	Item  3.	Legal Proceedings	16
	Item  4.	Mine Safety Disclosures	16
PART II
	Item  5.	Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities	17
	Item  6.	Selected Financial Data	18
	Item  7.	Management’s Discussion and Analysis of Financial Condition and Results of Operations	19
	Item  7A.	Quantitative and Qualitative Disclosures About Market Risk	46
	Item  8.	Financial Statements and Supplementary Data	47
	Item  9.	Changes in and Disagreements With Accountants on Accounting and Financial Disclosure	111
	Item  9A.	Controls and Procedures	111
	Item  9B.	Other Information	111
PART III
	Item  10.	Directors, Executive Officers and Corporate Governance	112
	Item  11.	Executive Compensation	114
	Item  12.	Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters	115
	Item  13.	Certain Relationships and Related Transactions, and Director Independence	115
	Item  14.	Principal Accounting Fees and Services	115
PART IV
	Item  15.	Exhibits, Financial Statement Schedules	116
	Signatures		120

PART I

Item 1. Business

The Boeing Company, together with its subsidiaries (herein referred to as “Boeing,” the “Company,” “we,” “us,” “our”), is one of the world’s major aerospace firms.

We are organized based on the products and services we offer. We operate in five principal segments:

• Commercial Airplanes;

• Our Defense, Space & Security (BDS) business comprises three segments:

• Boeing Military Aircraft (BMA),

• Network & Space Systems (N&SS) and

• Global Services & Support (GS&S); and

• Boeing Capital (BCC).

The unallocated activities of Engineering, Operations & Technology (EO&T) and Shared Services Group (SSG), Corporate and intercompany guarantees provided to BCC are included in Unallocated items, eliminations and other. EO&T provides Boeing with technical and functional capabilities, including information technology, research and development, test and evaluation, technology strategy development, environmental remediation management and intellectual property management.

Commercial Airplanes Segment

The Commercial Airplanes segment develops, produces and markets commercial jet aircraft and provides related support services, principally to the commercial airline industry worldwide. We are a leading producer of commercial aircraft and offer a family of commercial jetliners designed to meet a broad spectrum of global passenger and cargo requirements of airlines. This family of commercial jet aircraft in production includes the 737 narrow-body model and the 747, 767, 777 and 787 wide-body models. Development continues on the 787-10 and 737 MAX derivatives. In November 2013, we launched the 777X, which features a new composite wing, new engines and folding wing-tips all designed to deliver greater efficiency and significant fuel savings. The Commercial Airplanes segment also offers aviation services support, aircraft modifications, spare parts, training, maintenance documents and technical advice to commercial and government customers worldwide.

Defense, Space & Security

Our BDS operations principally involve research, development, production, modification and support of the products and related systems as described below. BDS' primary customer is the United States Department of Defense (U.S. DoD) with approximately 65% of BDS2014 revenues being derived from this customer (excluding foreign military sales through the U.S. government). Other significant BDS revenues were derived from the National Aeronautics and Space Administration (NASA), international defense markets, civil markets and commercial satellite markets. BDS consists of three capabilities-driven businesses: BMA, N&SS and GS&S. Additionally, the Phantom Works group is an integrated team that works with the three businesses via product development, rapid prototyping and customer engagement through experimentation and enterprise technology investment strategies.

Boeing Military Aircraft Segment

This segment is engaged in the research, development, production and modification of manned and unmanned military aircraft and weapons systems for global strike, including fighter aircraft and missile

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systems; vertical lift, including rotorcraft and tilt-rotor aircraft; unmanned airborne systems programs; and mobility, surveillance and engagement, including command and control, battle management, airborne, anti-submarine, transport and tanker aircraft. The major programs in this segment include for global strike: EA-18G Growler Airborne Electronic Attack, F/A-18E/F Super Hornet, F-15 Strike Eagle and Joint Direct Attack Munition; for vertical lift: CH-47 Chinook, AH-64 Apache, and V-22 Osprey; for unmanned airborne systems programs: ScanEagle; and for mobility, surveillance and engagement: C-17 Globemaster III, P-8A Poseidon, India P-8I, and KC-46A Tanker. The C-17 Globemaster III program is scheduled to end production in late 2015.

Network & Space Systems Segment

This segment is engaged in the research, development, production and modification of the following products and related services: electronics and information solutions, including command, control, communications, computers, intelligence, surveillance and reconnaissance (C4ISR), cyber and information solutions, and intelligence systems; strategic missile and defense systems; space and intelligence systems, including satellites and commercial satellite launch vehicles; and space exploration. The major programs in this segment include for strategic missile and defense systems: Ground-based Midcourse Defense (GMD); for space and intelligence systems: commercial, civil and military satellites; and for space exploration: Space Launch System (SLS), Commercial Crew and International Space Station. This segment also includes our joint venture operations related to United Launch Alliance.

Global Services & Support Segment

This segment provides customers with mission readiness through total support solutions. Our global services business sustains aircraft and systems with a full spectrum of products and services through integrated logistics, including supply chain management and engineering support; maintenance, modification and upgrades for aircraft; and training systems and government services, including pilot and maintenance training. GS&S international operations include Boeing Defence U.K. Ltd., and Boeing Defence Australia, as well as Alsalam Aircraft Company, Aviation Training International, Ltd and Boeing Sikorsky International Services LLC, joint ventures.

Integrated logistics comprises an integrated array of services that address the complete life cycle of aircraft and systems. Major programs include the F/A-18E/F support program and domestic and international performance based logistic programs for the AH-64 Apache, CH-47 Chinook and other BDS platforms.

Maintenance, modification and upgrades for aircraft are performed at centers throughout the United States and around the world, providing rapid cycle time and aircraft services for military customers on a wide variety of BDS and non-BDS platforms. Major support programs include the C-17 Globemaster III Integrated Sustainment Program and F-15 support programs for the United States Air Force (USAF) and several international customers. Aircraft programs include the Airborne Early Warning and Control (AEW&C) Peace Eagle contract with Turkey and Airborne Warning and Control Systems (AWACS) program.

Training systems and government services comprise a full range of training capabilities for domestic and international customers, including the design and development of trainers for multiple aircraft platforms and logistics and asset management solutions.

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Boeing Capital Segment

BCC ensures that Boeing customers have the financing they need to buy and take delivery of their Boeing product and manages overall financing exposure. BCC’s portfolio consists of equipment under operating leases, finance leases, notes and other receivables, assets held for sale or re-lease and investments.

Financial and Other Business Information

See the Summary of Business Segment Data and Note 21 to our Consolidated Financial Statements for financial information, including revenues and earnings from operations, for each of our business segments.

Intellectual Property

We own numerous patents and have licenses for the use of patents owned by others, which relate to our products and their manufacture. In addition to owning a large portfolio of intellectual property, we also license intellectual property to and from third parties. For example, the U.S. government has licenses in our patents that are developed in performance of government contracts, and it may use or authorize others to use the inventions covered by such patents for government purposes. Unpatented research, development and engineering skills, as well as certain trademarks, trade secrets, and other intellectual property rights, also make an important contribution to our business. While our intellectual property rights in the aggregate are important to the operation of each of our businesses, we do not believe that our business would be materially affected by the expiration of any particular intellectual property right or termination of any particular intellectual property patent license agreement.

Non-U.S. Revenues

See Note 21 to our Consolidated Financial Statements for information regarding non-U.S. revenues.

Research and Development

Research and development expenditures involve experimentation, design, development and related test activities for defense systems, new and derivative jet aircraft including both commercial and military, advanced space and other company-sponsored product development. These are expensed as incurred including amounts allocable as reimbursable overhead costs on U.S. government contracts.

Our total research and development expense, net amounted to $3.0 billion, $3.1 billion and $3.3 billion in 2014, 2013 and 2012, respectively.

Research and development costs also include bid and proposal efforts related to government products and services, as well as costs incurred in excess of amounts estimated to be recoverable under cost-sharing research and development agreements. Bid and proposal costs were $289 million, $285 million and $326 million in 2014, 2013 and 2012, respectively.

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Employees

Total workforce level at December 31, 2014 was approximately 165,500.

As of December 31, 2014, our principal collective bargaining agreements were with the following unions:

Union	Percent of our Employees Represented	Status of the Agreements with Major Union
The International Association of Machinists and Aerospace Workers (IAM)	21%	We have two major agreements; one expiring in June 2022 and one in September 2024.
The Society of Professional Engineering Employees in Aerospace (SPEEA)	13%	We have two major agreements expiring in October 2016.
The United Automobile, Aerospace and Agricultural Implement Workers of America (UAW)	1%	We have one major agreement expiring in September 2015 and one in October 2022.

Competition

The commercial jet aircraft market and the airline industry remain extremely competitive. We face aggressive international competitors who are intent on increasing their market share, such as Airbus, Embraer and Bombardier, and other entrants from Russia, China and Japan. We are focused on improving our processes and continuing cost reduction efforts. We intend to continue to compete with other airplane manufacturers by providing customers with greater value products, services, and support. We continue to leverage our extensive customer support services network which spans the life cycle of the airplane: aircraft acquisition, readying for service, maintenance and engineering, enhancing and upgrading, and transitioning to the next model - as well as the daily cycle of gate-to-gate operations. This enables us to provide a high level of customer satisfaction and productivity.

BDS faces strong competition in all market segments, primarily from Lockheed Martin Corporation, Northrop Grumman Corporation, Raytheon Company and General Dynamics Corporation. Non-U.S. companies such as BAE Systems and Airbus Group, continue to build a strategic presence in the U.S. market by strengthening their North American operations and partnering with U.S. defense companies. In addition, certain competitors have occasionally formed teams with other competitors to address specific customer requirements. BDS expects the trend of strong competition to continue into 2015.

Regulatory Matters

Our businesses are heavily regulated in most of our markets. We deal with numerous U.S. government agencies and entities, including but not limited to all of the branches of the U.S. military, NASA, the Federal Aviation Administration (FAA) and the Department of Homeland Security. Similar government authorities exist in our international markets.

Government Contracts. The U.S. government, and other governments, may terminate any of our government contracts at their convenience, as well as for default, based on our failure to meet specified performance requirements. If any of our U.S. government contracts were to be terminated for convenience, we generally would be entitled to receive payment for work completed and allowable termination or cancellation costs. If any of our government contracts were to be terminated for default, generally the U.S. government would pay only for the work that has been accepted and could require us to pay the difference between the original contract price and the cost to re-procure the contract items, net of the work accepted from the original contract. The U.S. government can also hold us liable for damages resulting from the default.

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Commercial Aircraft. In the U.S., our commercial aircraft products are required to comply with FAA regulations governing production and quality systems, airworthiness and installation approvals, repair procedures and continuing operational safety. Internationally, similar requirements exist for airworthiness, installation and operational approvals. These requirements are generally administered by the national aviation authorities of each country and, in the case of Europe, coordinated by the European Joint Aviation Authorities.

Environmental. We are subject to various federal, state, local and non-U.S. laws and regulations relating to environmental protection, including the discharge, treatment, storage, disposal and remediation of hazardous substances and wastes. We continually assess our compliance status and management of environmental matters to ensure our operations are in substantial compliance with all applicable environmental laws and regulations. Investigation, remediation, operation and maintenance costs associated with environmental compliance and management of sites are a normal, recurring part of our operations. These costs often are allowable costs under our contracts with the U.S. government. It is reasonably possible that costs incurred to ensure continued environmental compliance could have a material impact on our results of operations, financial condition or cash flows if additional work requirements or more stringent clean-up standards are imposed by regulators, new areas of soil, air and groundwater contamination are discovered and/or expansions of work scope are prompted by the results of investigations.

A Potentially Responsible Party (PRP) has joint and several liability under existing U.S. environmental laws. Where we have been designated a PRP by the Environmental Protection Agency or a state environmental agency, we are potentially liable to the government or third parties for the full cost of remediating contamination at our facilities or former facilities or at third-party sites. If we were required to fully fund the remediation of a site for which we were originally assigned a partial share, the statutory framework would allow us to pursue rights to contribution from other PRPs. For additional information relating to environmental contingencies, see Note 11 to our Consolidated Financial Statements.

International. Our international sales are subject to U.S. and non-U.S. governmental regulations and procurement policies and practices, including regulations relating to import-export control, investment, exchange controls and repatriation of earnings. International sales are also subject to varying currency, political and economic risks.

Raw Materials, Parts, and Subassemblies

We are highly dependent on the availability of essential materials, parts and subassemblies from our suppliers and subcontractors. The most important raw materials required for our aerospace products are aluminum (sheet, plate, forgings and extrusions), titanium (sheet, plate, forgings and extrusions) and composites (including carbon and boron). Although alternative sources generally exist for these raw materials, qualification of the sources could take one year or more. Many major components and product equipment items are procured or subcontracted on a sole-source basis with a number of companies.

Suppliers

We are dependent upon the ability of a large number of suppliers and subcontractors to meet performance specifications, quality standards and delivery schedules at our anticipated costs. While we maintain an extensive qualification and performance surveillance system to control risk associated with such reliance on third parties, failure of suppliers or subcontractors to meet commitments could adversely affect production schedules and program/contract profitability, thereby jeopardizing our ability to fulfill commitments to our customers. We are also dependent on the availability of energy sources, such as electricity, at affordable prices.

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Seasonality

No material portion of our business is considered to be seasonal.

Executive Officers of the Registrant

See “Item 10. Directors, Executive Officers and Corporate Governance” in Part III.

Other Information

Boeing was originally incorporated in the State of Washington in 1916 and reincorporated in Delaware in 1934. Our principal executive offices are located at 100 N. Riverside Plaza, Chicago, Illinois 60606 and our telephone number is (312) 544-2000.

General information about us can be found at www.boeing.com. The information contained on or connected to our website is not incorporated by reference into this Annual Report on Form 10-K and should not be considered part of this or any other report filed with the Securities and Exchange Commission (SEC). Our Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and Current Reports on Form 8-K, as well as any amendments to those reports, are available free of charge through our website as soon as reasonably practicable after we file them with, or furnish them to, the SEC. These reports may also be obtained at the SEC’s public reference room at 100 F Street, N.E., Washington, D.C. 20549. The SEC also maintains a website at www.sec.gov that contains reports, proxy statements and other information regarding SEC registrants, including Boeing.

Forward-Looking Statements

This report, as well as our Annual Report to Shareholders, quarterly reports, and other filings we make with the SEC, press releases and other written and oral communications, contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as “may,” “should,” “expects,” “intends,” “projects,” “plans,” “believes,” “estimates,” “targets,” “anticipates” and similar expressions are used to identify these forward-looking statements. Examples of forward-looking statements include statements relating to our future financial condition and operating results, as well as any other statement that does not directly relate to any historical or current fact.

Forward-looking statements are based on our current expectations and assumptions, which may not prove to be accurate. These statements are not guarantees and are subject to risks, uncertainties and changes in circumstances that are difficult to predict. Many factors, including those set forth in the “Risk Factors” section below could cause actual results to differ materially and adversely from these forward-looking statements. Any forward-looking statement speaks only as of the date on which it is made, and we assume no obligation to update or revise any forward-looking statement whether as a result of new information, future events or otherwise, except as required by law.

Item 1A. Risk Factors

An investment in our common stock or debt securities involves risks and uncertainties and our actual results and future trends may differ materially from our past or projected future performance. We urge investors to consider carefully the risk factors described below in evaluating the information contained in this report.

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Our Commercial Airplanes business depends heavily on commercial airlines, and is subject to unique risks.

Market conditions have a significant impact on demand for our commercial aircraft. The commercial aircraft market is predominantly driven by long-term trends in airline passenger and cargo traffic. The principal factors underlying long-term traffic growth are sustained economic growth and political stability both in developed and emerging markets. Demand for our commercial aircraft is further influenced by airline profitability, availability of aircraft financing, world trade policies, government-to-government relations, technological changes, price and other competitive factors, fuel prices, terrorism, epidemics and environmental regulations. Traditionally, the airline industry has been cyclical and very competitive and has experienced significant profit swings and constant challenges to be more cost competitive. In addition, availability of financing to non-U.S. customers depends in part on the Export-Import Bank of the United States. Significant deterioration in the global economic environment, the airline industry generally, or in the financial stability of one or more of our major customers could result in fewer new orders for aircraft or could cause customers to seek to postpone or cancel contractual orders and/or payments to us, which could result in lower revenues, profitability and cash flows and a reduction in our contractual backlog. In addition, because our commercial aircraft backlog consists of aircraft scheduled for delivery over a period of several years, any of these macroeconomic, industry or customer impacts could unexpectedly affect deliveries over a long period.

We enter into firm fixed-price aircraft sales contracts with indexed price escalation clauses which could subject us to losses if we have cost overruns or if increases in our costs exceed the applicable escalation rate. Commercial aircraft sales contracts are often entered into years before the aircraft are delivered. In order to account for economic fluctuations between the contract date and delivery date, aircraft pricing generally consists of a fixed amount as modified by price escalation formulas derived from labor, commodity and other price indices. Our revenue estimates are based on current expectations with respect to these escalation formulas, but the actual escalation amounts are outside of our control. Escalation factors can fluctuate significantly from period to period. Changes in escalation amounts can significantly impact revenues and operating margins in our Commercial Airplanes business.

We derive a significant portion of our revenues from a limited number of commercial airlines. We can make no assurance that any customer will exercise purchase options, fulfill existing purchase commitments or purchase additional products or services from us. In addition, fleet decisions, airline consolidations or financial challenges involving any of our major commercial airline customers could significantly reduce our revenues and limit our opportunity to generate profits from those customers.

Our Commercial Airplanes business depends on our ability to maintain a healthy production system, achieve planned production rate targets, successfully develop new aircraft or new derivative aircraft, and meet or exceed stringent performance and reliability standards.

The commercial aircraft business is extremely complex, involving extensive coordination and integration with suppliers, highly-skilled labor from thousands of employees and other partners, and stringent regulatory requirements and performance and reliability standards. In addition, the introduction of new aircraft programs and/or derivatives, such as the 787-10, 737 MAX and 777X, involves increased risks associated with meeting development, testing, production and certification schedules. As a result, our ability to deliver aircraft on time, satisfy regulatory and customer requirements, and achieve or maintain, as applicable, program profitability is subject to significant risks.

We must meet planned production rate and productivity improvement targets in order to satisfy customer demand and maintain our profitability. We continue to increase production rates for the 737 and 787 programs, while at the same time engaging in significant ongoing development of the 787-10, 737 MAX and 777X aircraft. In addition, we continue to seek opportunities to reduce the costs of building our aircraft, including working with our suppliers to reduce supplier costs, identifying and implementing productivity

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improvements, and optimizing how we manage inventory. If production rate ramp-up efforts at any of our commercial aircraft assembly facilities are delayed or if our suppliers cannot timely deliver components to us at the cost and rates necessary to achieve our targets, we may be unable to meet delivery schedules and the financial performance of one or more of our programs may suffer.

Operational challenges impacting the production system for one or more of our commercial aircraft programs could result in production delays and/or failure to meet customer demand for new aircraft, either of which would negatively impact our revenues and operating margins. Our commercial aircraft production system is extremely complex. Operational issues, including delays or defects in supplier components, failure to meet internal performance plans, or delays or failures to achieve required regulatory certifications, could result in significant out-of-sequence work and increased production costs, as well as delayed deliveries to customers, impacts to aircraft performance and/or increased warranty or fleet support costs. Further, if we cannot efficiently and cost-effectively incorporate design changes into already-completed 787 production aircraft, we may face further profitability pressures on this program.

If our commercial airplanes fail to satisfy performance and reliability requirements, we could face additional costs and/or lower revenues. Developing and manufacturing commercial aircraft that meet or exceed our performance and reliability standards, as well as those of customers and regulatory agencies, can be costly and technologically challenging. These challenges are particularly significant with newer aircraft programs. Any failure of any Boeing aircraft to satisfy performance or reliability requirements could result in disruption to our operations, higher costs and/or lower revenues.

Changes in levels of U.S. government defense spending or overall acquisition priorities could negatively impact our financial position and results of operations.

We derive a substantial portion of our revenue from the U.S. government, primarily from defense related programs with the U.S. DoD. Levels of U.S. defense spending in future periods are very difficult to predict and subject to significant risks. In addition, significant budgetary delays and constraints have already resulted in reduced spending levels, and additional reductions may be forthcoming. In August 2011, the Budget Control Act (The Act) established limits on U.S. government discretionary spending, including a reduction of defense spending by approximately $490 billion between the 2012 and 2021 U.S. government fiscal years. The Act also provided that the defense budget would face “sequestration” cuts of up to an additional $500 billion during that same period to the extent that discretionary spending limits are exceeded. The impact of sequestration cuts was reduced with respect to FY2014 and FY2015 following the enactment of The Bipartisan Budget Act in December 2013. However, significant uncertainty remains with respect to overall levels of defense spending and it is likely that U.S. government discretionary spending levels will continue to be subject to significant pressure, including risk of future sequestration cuts.

In addition, there continues to be significant uncertainty with respect to program-level appropriations for the U.S. DoD and other government agencies (including NASA) within the overall budgetary framework described above. While the FY2015 appropriations enacted December 2014 included funding for Boeing’s major programs, such as F/A-18, CH-47 Chinook, AH-64 Apache, KC-46A Tanker and P-8 programs, uncertainty remains about how defense budgets in FY2016 and beyond will affect Boeing’s programs. We also expect that ongoing concerns regarding the U.S. national debt will continue to place downward pressure on U.S. DoD spending levels. Future budget cuts, including cuts mandated by sequestration, or future procurement decisions associated with the authorizations and appropriations process could result in reductions, cancellations, and/or delays of existing contracts or programs. Any of these impacts could have a material effect on the results of the Company’s operations, financial position and/or cash flows.

In addition, as a result of the significant ongoing uncertainty with respect to both U.S. defense spending levels and the nature of the threat environment, we expect the U.S. DoD to continue to emphasize cost-cutting and other efficiency initiatives in its procurement processes. If we can no longer adjust successfully

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to these changing acquisition priorities and/or fail to meet affordability targets set by the U.S. DoD customer, our revenues and market share would be further impacted.

We conduct a significant portion of our business pursuant to U.S. government contracts, which are subject to unique risks.

In 2014,30% of our revenues were earned pursuant to U.S. government contracts, which include foreign military sales through the U.S. government. Business conducted pursuant to such contracts is subject to extensive procurement regulations and other unique risks.

Our sales to the U.S. government are subject to extensive procurement regulations, and changes to those regulations could increase our costs. New procurement regulations, or changes to existing requirements, could increase our compliance costs or otherwise have a material impact on the operating margins of our BDS business. These requirements may result in increased compliance costs, and we could be subject to additional costs in the form of withheld payments and/or reduced future business if we fail to comply with these requirements in the future. Compliance costs attributable to current and potential future procurement regulations such as these could negatively impact our financial condition and operating results.

The U.S. government may modify, curtail or terminate one or more of our contracts. The U.S. government contracting party may modify, curtail or terminate its contracts and subcontracts with us, without prior notice and either at its convenience or for default based on performance. In addition, funding pursuant to our U.S. government contracts may be reduced or withheld as part of the U.S. Congressional appropriations process due to fiscal constraints, changes in U.S. national security strategy and/or priorities or other reasons. Further uncertainty with respect to ongoing programs could also result in the event that the U.S. government finances its operations through temporary funding measures such as “continuing resolutions” rather than full-year appropriations. Any loss or anticipated loss or reduction of expected funding and/or modification, curtailment, or termination of one or more large programs could have a material adverse effect on our earnings, cash flow and/or financial position.

We are subject to U.S. government inquiries and investigations, including periodic audits of costs that we determine are reimbursable under U.S. government contracts. U.S. government agencies, including the Defense Contract Audit Agency and the Defense Contract Management Agency, routinely audit government contractors. These agencies review our performance under contracts, cost structure and compliance with applicable laws, regulations, and standards, as well as the adequacy of and our compliance with our internal control systems and policies. Any costs found to be misclassified or inaccurately allocated to a specific contract will be deemed non-reimbursable, and to the extent already reimbursed, must be refunded. Any inadequacies in our systems and policies could result in withholds on billed receivables, penalties and reduced future business. Furthermore, if any audit, inquiry or investigation uncovers improper or illegal activities, we could be subject to civil and criminal penalties and administrative sanctions, including termination of contracts, forfeiture of profits, suspension of payments, fines, and suspension or debarment from doing business with the U.S. government. We also could suffer reputational harm if allegations of impropriety were made against us, even if such allegations are later determined to be false.

We enter into fixed-price contracts which could subject us to losses if we have cost overruns.

Our BDS business generated approximately 71% of its 2014 revenues from fixed-price contracts. While fixed price contracts enable us to benefit from performance improvements, cost reductions and efficiencies, they also subject us to the risk of reduced margins or incurring losses if we are unable to achieve estimated costs and revenues. If our estimated costs exceed our estimated price, we recognize reach-forward losses which can significantly affect our reported results. For example, during the second quarter of 2014, we recorded a reach-forward loss of $425 million on the USAF KC-46A Tanker contract, primarily due to initial engineering and design issues. The long term nature of many of our contracts makes the process of

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estimating costs and revenues on fixed-price contracts inherently risky. Fixed-price contracts often contain price incentives and penalties tied to performance which can be difficult to estimate and have significant impacts on margins. In addition, some of our contracts have specific provisions relating to cost, schedule and performance.

Fixed-price development contracts are generally subject to more uncertainty than fixed-price production contracts. Many of these development programs have highly complex designs. In addition, technical or quality issues that arise during development could lead to schedule delays and higher costs to complete, which could result in a material charge or otherwise adversely affect our financial condition. Examples of significant BDS fixed-price development contracts include AEW&C, Commercial Crew, India P-8I, Saudi F-15, USAF KC-46A Tanker, and commercial and military satellites.

We enter into cost-type contracts which also carry risks.

Our BDS business generated approximately 29% of its 2014 revenues from cost-type contracting arrangements. Some of these are development programs that have complex design and technical challenges. These cost-type programs typically have award or incentive fees that are subject to uncertainty and may be earned over extended periods. In these cases the associated financial risks are primarily in reduced fees, lower profit rates or program cancellation if cost, schedule or technical performance issues arise. Programs whose contracts are primarily cost-type include GMD, Proprietary and SLS programs.

We enter into contracts that include in-orbit incentive payments that subject us to risks.

Contracts in the commercial satellite industry and certain government satellite contracts include in-orbit incentive payments. These in-orbit payments may be paid over time after final satellite acceptance or paid in full prior to final satellite acceptance. In both cases, the in-orbit incentive payment is at risk if the satellite does not perform to specifications for up to 15 years after acceptance. The net present value of in-orbit incentive fees we ultimately expect to realize is recognized as revenue in the construction period. If the satellite fails to meet contractual performance criteria, customers will not be obligated to continue making in-orbit payments and/or we may be required to provide refunds to the customer and incur significant charges.

Our ability to deliver products and services that satisfy customer requirements is heavily dependent on the performance of our subcontractors and suppliers, as well as on the availability of raw materials and other components.

We rely on other companies including subcontractors and suppliers to provide and produce raw materials, integrated components and sub-assemblies, and production commodities and to perform some of the services that we provide to our customers. If one or more of our suppliers or subcontractors experiences delivery delays or other performance problems, we may be unable to meet commitments to our customers or incur additional costs. In addition, if one or more of the raw materials on which we depend (such as aluminum, titanium or composites) becomes unavailable or is available only at very high prices, we may be unable to deliver one or more of our products in a timely fashion or at budgeted costs. In some instances, we depend upon a single source of supply. Any service disruption from one of these suppliers, either due to circumstances beyond the supplier’s control, such as geo-political developments, or as a result of performance problems or financial difficulties, could have a material adverse effect on our ability to meet commitments to our customers or increase our operating costs. For example, we are monitoring political unrest involving Russia and Ukraine, where we and some of our suppliers source titanium products and/or have operations.

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We use estimates in accounting for many contracts and programs. Changes in our estimates could adversely affect our future financial results.

Contract and program accounting require judgment relative to assessing risks, estimating revenues and costs and making assumptions for schedule and technical issues. Due to the size and nature of many of our contracts and programs, the estimation of total revenues and cost at completion is complicated and subject to many variables. Assumptions have to be made regarding the length of time to complete the contract or program because costs also include expected increases in wages and employee benefits, material prices and allocated fixed costs. Incentives or penalties related to performance on contracts are considered in estimating sales and profit rates, and are recorded when there is sufficient information for us to assess anticipated performance. Suppliers’ assertions are also assessed and considered in estimating costs and profit rates. Estimates of award fees are also used in sales and profit rates based on actual and anticipated awards.

With respect to each of our commercial aircraft programs, inventoriable production costs (including overhead), program tooling and other non-recurring costs and routine warranty costs are accumulated and charged as cost of sales by program instead of by individual units or contracts. A program consists of the estimated number of units (accounting quantity) of a product to be produced in a continuing, long-term production effort for delivery under existing and anticipated contracts limited by the ability to make reasonably dependable estimates. To establish the relationship of sales to cost of sales, program accounting requires estimates of (a) the number of units to be produced and sold in a program, (b) the period over which the units can reasonably be expected to be produced and (c) the units’ expected sales prices, production costs, program tooling and other non-recurring costs, and routine warranty costs for the total program. Several factors determine accounting quantity, including firm orders, letters of intent from prospective customers and market studies. Changes to customer or model mix, production costs and rates, learning curve, changes to price escalation indices, costs of derivative aircraft, supplier performance, customer and supplier negotiations/settlements, supplier claims and/or certification issues can impact these estimates. Any such change in estimates relating to program accounting may adversely affect future financial performance.

Because of the significance of the judgments and estimation processes described above, materially different sales and profit amounts could be recorded if we used different assumptions or if the underlying circumstances were to change. Changes in underlying assumptions, circumstances or estimates may adversely affect future period financial performance. For additional information on our accounting policies for recognizing sales and profits, see our discussion under “Management’s Discussion and Analysis – Critical Accounting Policies – Contract Accounting/Program Accounting” on pages 43 – 44 and Note 1 to our Consolidated Financial Statements on pages 54 – 64 of this Form 10-K.

Competition within our markets may reduce our future contracts and sales.

The markets in which we operate are highly competitive and one or more of our competitors may have more extensive or more specialized engineering, manufacturing and marketing capabilities than we do in some areas. In our Commercial Airplanes business, we anticipate increasing competition among non-U.S. aircraft manufacturers and service providers in one or more of our market segments. In our BDS business, we anticipate that the effects of defense industry consolidation and new priorities, including long-term cost competitiveness, of our U.S. DoD customer will intensify competition for many of our products and services. Furthermore, we are facing increased international competition and cross-border consolidation of competition. There can be no assurance that we will be able to compete successfully against our current or future competitors or that the competitive pressures we face will not result in reduced revenues and market share.

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We derive a significant portion of our revenues from non-U.S. sales and are subject to the risks of doing business in other countries.

In 2014, non-U.S. customers accounted for approximately 58% of our revenues. We expect that non-U.S. sales will continue to account for a significant portion of our revenues for the foreseeable future. As a result, we are subject to risks of doing business internationally, including:

• changes in regulatory requirements;

• domestic and international government policies, including requirements to expend a portion of program funds locally and governmental industrial cooperation or participation requirements;

• fluctuations in international currency exchange rates;

• volatility in international political and economic environments and changes in non-U.S. national priorities and budgets, which can lead to delays or fluctuations in orders;

• the complexity and necessity of using non-U.S. representatives and consultants;

• the uncertainty of the ability of non-U.S. customers to finance purchases, including the availability of financing from the Export-Import Bank of the United States;

• uncertainties and restrictions concerning the availability of funding credit or guarantees;

• imposition of domestic and international taxes, export controls, tariffs, embargoes, sanctions and other trade restrictions;

• the difficulty of management and operation of an enterprise spread over many countries;

• compliance with a variety of international laws, as well as U.S. laws affecting the activities of U.S. companies abroad; and

• unforeseen developments and conditions, including terrorism, war, epidemics and international conflicts.

While the impact of these factors is difficult to predict, any one or more of these factors could adversely affect our operations in the future.

The outcome of litigation and of government inquiries and investigations involving our business is unpredictable and an adverse decision in any such matter could have a material effect on our financial position and results of operations.

We are involved in a number of litigation matters. These matters may divert financial and management resources that would otherwise be used to benefit our operations. No assurances can be given that the results of these matters will be favorable to us. An adverse resolution of any of these lawsuits could have a material impact on our financial position and results of operations. In addition, we are subject to extensive regulation under the laws of the United States and its various states, as well as other jurisdictions in which we operate. As a result, we are sometimes subject to government inquiries and investigations of our business due, among other things, to our business relationships with the U.S. government, the heavily regulated nature of our industry, and in the case of environmental proceedings, our ownership of certain property. Any such inquiry or investigation could potentially result in an adverse ruling against us, which could have a material impact on our financial position and results of operations.

A significant portion of our customer financing portfolio is concentrated among certain customers based in the United States, and in certain types of Boeing aircraft, which exposes us to concentration risks.

A significant portion of our customer financing portfolio is concentrated among certain customers and in distinct geographic regions, particularly in the United States. Our portfolio is also concentrated by varying

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degrees across Boeing aircraft product types, most notably 717 aircraft. If one or more customers holding a significant portion of our portfolio assets experiences financial difficulties or otherwise defaults on or does not renew its leases with us at their expiration, and we are unable to redeploy the aircraft on reasonable terms, or if the types of aircraft that are concentrated in our portfolio suffer greater than expected declines in value, our earnings, cash flows and/or financial position could be materially adversely affected.

We may be unable to obtain debt to fund our operations and contractual commitments at competitive rates, on commercially reasonable terms or in sufficient amounts.

We depend, in part, upon the issuance of debt to fund our operations and contractual commitments. As of December 31, 2014 and 2013, our airplane financing commitments totaled $16,723 million and $17,987 million. If we require additional funding in order to fund outstanding financing commitments or meet other business requirements, our market liquidity may not be sufficient. A number of factors could cause us to incur increased borrowing costs and to have greater difficulty accessing public and private markets for debt. These factors include disruptions or declines in the global capital markets and/or a decline in our financial performance, outlook or credit ratings. The occurrence of any or all of these events may adversely affect our ability to fund our operations and contractual or financing commitments.

We may not realize the anticipated benefits of mergers, acquisitions, joint ventures/strategic alliances or divestitures.

As part of our business strategy, we may merge with or acquire businesses and/or form joint ventures and strategic alliances. Whether we realize the anticipated benefits from these acquisitions and related activities depends, in part, upon our ability to integrate the operations of the acquired business, the performance of the underlying product and service portfolio, and the performance of the management team and other personnel of the acquired operations. Accordingly, our financial results could be adversely affected from unanticipated performance issues, legacy liabilities, transaction-related charges, amortization of expenses related to intangibles, charges for impairment of long-term assets, credit guarantees, partner performance and indemnifications. Consolidations of joint ventures could also impact our reported results of operations or financial position. While we believe that we have established appropriate and adequate procedures and processes to mitigate these risks, there is no assurance that these transactions will be successful. We also may make strategic divestitures from time to time. These transactions may result in continued financial involvement in the divested businesses, such as through guarantees or other financial arrangements, following the transaction. Nonperformance by those divested businesses could affect our future financial results through additional payment obligations, higher costs or asset write-downs.

Our insurance coverage may be inadequate to cover all significant risk exposures.

We are exposed to liabilities that are unique to the products and services we provide. We maintain insurance for certain risks and, in some circumstances, we may receive indemnification from the U.S. government. The amount of our insurance coverage may not cover all claims or liabilities and we may be forced to bear substantial costs. For example, liabilities arising from the use of certain of our products, such as aircraft technologies, missile systems, border security systems, anti-terrorism technologies, and/or air traffic management systems may not be insurable on commercially reasonable terms. While some of these products are shielded from liability within the U.S. under the SAFETY Act provisions of the 2002 Homeland Security Act, no such protection is available outside the U.S., potentially resulting in significant liabilities. The amount of insurance coverage we maintain may be inadequate to cover these or other claims or liabilities.

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Business disruptions could seriously affect our future sales and financial condition or increase our costs and expenses.

Our business may be impacted by disruptions including threats to physical security, information technology or cyber-attacks or failures, damaging weather or other acts of nature and pandemics or other public health crises. Any of these disruptions could affect our internal operations or our ability to deliver products and services to our customers. Any significant production delays, or any destruction, manipulation or improper use of our data, information systems or networks could impact our sales, increase our expenses and/or have an adverse effect on the reputation of Boeing and of our products and services.

Some of our and our suppliers’ workforces are represented by labor unions, which may lead to work stoppages.

Approximately 64,000 employees, which constitute 39% of our total workforce, were union represented as of December 31, 2014. We experienced a work stoppage in 2008 when a labor strike halted commercial aircraft and certain BMA program production. We may experience additional work stoppages in the future, which could adversely affect our business. We cannot predict how stable our relationships, currently with 11 U.S. labor organizations and 6 non-U.S. labor organizations, will be or whether we will be able to meet the unions’ requirements without impacting our financial condition. The unions may also limit our flexibility in dealing with our workforce. Union actions at suppliers can also affect us. Work stoppages and instability in our union relationships could delay the production and/or development of our products, which could strain relationships with customers and cause a loss of revenues which would adversely affect our operations.

We have substantial pension and other postretirement benefit obligations, which have a material impact on our earnings, shareholders' equity and cash flows from operations and could have significant adverse impacts in future periods.

We have qualified defined benefit pension plans that cover the majority of our employees. Potential pension contributions include both mandatory amounts required under the Employee Retirement Income Security Act and discretionary contributions to improve the plans' funded status. The extent of future contributions depends heavily on market factors such as the discount rate and the actual return on plan assets. We estimate future contributions to these plans using assumptions with respect to these and other items. Changes to those assumptionscould have a significant effect on future contributions as well as on our annual pension costs and/or result in a significant change to shareholders' equity. For U.S. government contracts, we allocate pension costs to individual contracts based on U.S. Cost Accounting Standards which can also affect contract profitability. We also provide other postretirement benefits to certain of our employees, consisting principally of health care coverage for eligible retirees and qualifying dependents. Our estimates of future costs associated with these benefits are also subject to assumptions, including estimates of the level of medical cost increases. For a discussion regarding how our financial statements can be affected by pension and other postretirement plan accounting policies, see “Management's Discussion and Analysis-Critical Accounting Policies-Pension Plans” on pages 45 – 46 of this Form 10-K. Although GAAP expense and pension or other postretirement benefit contributions are not directly related, the key economic factors that affect GAAP expense would also likely affect the amount of cash or stock we would contribute to our plans.

Our operations expose us to the risk of material environmental liabilities.

We are subject to various federal, state, local and non-U.S. laws and regulations related to environmental protection, including the discharge, treatment, storage, disposal and remediation of hazardous substances and wastes. We could incur substantial costs, including cleanup costs, fines and civil or criminal sanctions, as well as third-party claims for property damage or personal injury, if we were to violate or become liable

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under environmental laws or regulations. In some cases, we may be subject to such costs due to environmental impacts attributable to our current or past manufacturing operations or the operations of companies we have acquired. In other cases, we may become subject to such costs due to an indemnification agreement between us and a third party relating to such environmental liabilities. In addition, new laws and regulations, more stringent enforcement of existing laws and regulations, the discovery of previously unknown contamination or the imposition of new remediation requirements could result in additional costs. For additional information relating to environmental contingencies, see Note 11 to our Consolidated Financial Statements.

Unauthorized access to our or our customers’ information and systems could negatively impact our business.

We face certain security threats, including threats to the confidentiality, availability and integrity of our data and systems. We maintain an extensive network of technical security controls, policy enforcement mechanisms, monitoring systems and management oversight in order to address these threats. While these measures are designed to prevent, detect and respond to unauthorized activity in our systems, certain types of attacks, including cyber-attacks, could result in significant financial or information losses and/or reputational harm. In addition, we manage information technology systems for certain customers. Many of these customers face similar security threats. If we cannot prevent the unauthorized access, release and/or corruption of our customers’ confidential, classified or personally identifiable information, our reputation could be damaged, and/or we could face financial losses.

Item 1B. Unresolved Staff Comments

Not applicable

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Item 2. Properties

We occupied approximately 82 million square feet of floor space on December 31, 2014 for manufacturing, warehousing, engineering, administration and other productive uses, of which approximately 96% was located in the United States. The following table provides a summary of the floor space by business as of December 31, 2014:

(Square feet in thousands)	Owned	Leased	Government Owned(1)	Total
Commercial Airplanes	38,897	5,288		44,185
Defense, Space & Security	26,538	7,854		34,392
Other(2)	2,395	876	318	3,589
Total	67,830	14,018	318	82,166

⁽¹⁾ Excludes rent-free space furnished by U.S. government landlord of 145 square feet.

⁽²⁾ Other includes BCC; EO&T; SSG; and our Corporate Headquarters.

At December 31, 2014, we occupied in excess of 74.6 million square feet of floor space at the following major locations:

• Commercial Airplanes – Greater Seattle, WA; Greater Charleston, SC; Portland, OR; Greater Los Angeles, CA; Greater Salt Lake City, UT; Australia; and Canada

• Defense, Space & Security – Greater St. Louis, MO; Greater Los Angeles, CA; Greater Seattle, WA; Philadelphia, PA; Mesa, AZ; San Antonio, TX; Huntsville, AL; Greater Washington, DC; Oklahoma City, OK; and Houston, TX

• Other – Chicago, IL and Greater Seattle, WA

Most runways and taxiways that we use are located on airport properties owned by others and are used jointly with others. Our rights to use such facilities are provided for under long-term leases with municipal, county or other government authorities. In addition, the U.S. government furnishes us certain office space, installations and equipment at U.S. government bases for use in connection with various contract activities.

We believe that our major properties are adequate for our present needs and, as supplemented by planned improvements and construction, expect them to remain adequate for the foreseeable future.

Item 3. Legal Proceedings

Currently, we are involved in a number of legal proceedings. For a discussion of contingencies related to legal proceedings, see Note 20 to our Consolidated Financial Statements, which is hereby incorporated by reference.

Item 4. Mine Safety Disclosures

Not applicable

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PART II

Item 5. Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities

The principal market for our common stock is the New York Stock Exchange where it trades under the symbol BA. As of February 5, 2015, there were 129,832 shareholders of record. Additional information required by this item is incorporated by reference from Note 22 to our Consolidated Financial Statements.

Issuer Purchases of Equity Securities

The following table provides information about purchases of our common stock we made during the quarter ended December 31, 2014:

(Dollars in millions, except per share data)

	(a)	(b)		(c)	(d)
	Total Number of Shares Purchased(1)	Average Price Paid per Share		Total Number of Shares Purchased as Part of Publicly Announced Plans or Programs	Approximate Dollar Value of Shares That May Yet be Purchased Under the Plans or Programs(2)
10/1/2014 thru 10/31/2014	1,637,262		$123.02	1,626,078		$5,611
11/1/2014 thru 11/30/2014	6,207,902	129.24		6,196,086	4,810
12/1/2014 thru 12/31/2014	4,915	132.24			12,000
Total	7,850,079		$127.94	7,822,164

⁽¹⁾  We purchased an aggregate of 7,822,164 shares of our common stock in the open market pursuant to our repurchase plan and 27,915 shares transferred to us from employees in satisfaction of minimum tax withholding obligations associated with the vesting of restricted stock units during the period. We did not purchase shares in swap transactions.

⁽²⁾  On December 15, 2014, we announced a new repurchase plan for up to $12 billion of common stock, replacing the plan previously authorized in 2013.

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Item 6. Selected Financial Data

Five-Year Summary (Unaudited)
(Dollars in millions, except per share data)	2014			2013			2012			2011		2010
Operations
Revenues:
Commercial Airplanes		$59,990			$52,981			$49,127			$36,171		$31,834
Defense, Space & Security:(1)
Boeing Military Aircraft	13,511			15,285			15,388			14,115		13,291
Network & Space Systems	8,003			8,512			7,911			8,964		9,769
Global Services & Support	9,367			9,400			9,308			8,897		8,883
Total Defense, Space & Security	30,881			33,197			32,607			31,976		31,943
Boeing Capital	416			408			468			547		672
Unallocated items, eliminations, and other(2)	(525		)	37			(504		)	41		(143		)
Total revenues		$90,762			$86,623			$81,698			$68,735		$64,306
General and administrative expense	3,767			3,956			3,717			3,408		3,644
Research and development expense	3,047			3,071			3,298			3,918		4,121
Other income/(loss), net	(3		)	56			62			47		52
Net earnings from continuing operations		$5,446			$4,586			$3,903			$4,011		$3,311
Net gain/(loss) on disposal of discontinued operations, net of tax				(1		)	(3		)	7		(4		)
Net earnings		$5,446			$4,585			$3,900			$4,018		$3,307
Basic earnings per share from continuing operations	7.47			6.03			5.15			5.38		4.50
Diluted earnings per share from continuing operations	7.38			5.96			5.11			5.33		4.46
Cash dividends declared		$2,210			$1,642			$1,360			$1,263		$1,245
Per share	3.10			2.185			1.805			1.70		1.68
Additions to Property, plant and equipment	2,236			2,098			1,703			1,713		1,125
Depreciation of Property, plant and equipment	1,414			1,338			1,248			1,119		1,096
Year-end workforce	165,500			168,400			174,400			171,700		160,500
Financial position at December 31
Total assets		$99,198			$92,663			$88,896			$79,986		$68,565
Working capital	11,068			13,588			12,327			8,536		5,177
Property, plant and equipment, net	11,007			10,224			9,660			9,313		8,931
Cash and cash equivalents	11,733			9,088			10,341			10,049		5,359
Short-term and other investments	1,359			6,170			3,217			1,223		5,158
Total debt	9,070			9,635			10,409			12,371		12,421
Customer financing assets	3,561			3,971			4,420			4,772		4,680
Shareholders’ equity(3)	8,665			14,875			5,867			3,515		2,766
Common shares outstanding (in millions)(4)	706.7			747.4			755.6			744.7		735.3
Contractual Backlog:
Commercial Airplanes		$440,118			$372,980			$317,287			$293,303		$255,591
Defense, Space & Security:(1)
Boeing Military Aircraft	21,143			23,604			27,898			22,107		23,350
Network & Space Systems	8,935			9,832			10,078			9,429		9,935
Global Services & Support	16,896			16,245			17,092			14,818		15,079
Total Defense, Space & Security	46,974			49,681			55,068			46,354		48,364
Total contractual backlog		$487,092			$422,661			$372,355			$339,657		$303,955

Cash dividends have been paid on common stock every year since 1942.

⁽¹⁾  Effective in 2014, certain programs were realigned between BDS segments. Prior years have been recast for segment realignments.

(2) Beginning in 2014, amounts previously reported separately as Other segment and Unallocated items and eliminations are now presented on a combined basis to provide a more meaningful presentation. Prior years have been adjusted to reflect the change.

⁽³⁾  Shareholders’ equity excludes noncontrolling interests.

⁽⁴⁾  Represents actual number of shares outstanding as of December 31 and excludes treasury shares and the outstanding shares held by the ShareValue Trust, which was terminated in July 2010.

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Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations

Consolidated Results of Operations and Financial Condition

Overview

We are a global market leader in design, development, manufacture, sale, service and support of commercial jetliners, military aircraft, satellites, missile defense, human space flight and launch systems and services. We are one of the two major manufacturers of 100+ seat airplanes for the worldwide commercial airline industry and one of the largest defense contractors in the U.S. While our principal operations are in the U.S., we conduct operations in many countries and rely on an extensive network of international partners, key suppliers and subcontractors.

Our strategy is centered on successful execution in healthy core businesses – Commercial Airplanes and Defense, Space & Security (BDS) – supplemented and supported by Boeing Capital (BCC). Taken together, these core businesses have historically generated substantial earnings and cash flow that permit us to invest in new products and services. We focus on producing the products and providing the services that the market demands and we price our products and services to provide a fair return for our shareholders while continuing to find new ways to improve efficiency and quality. Commercial Airplanes is committed to being the leader in commercial aviation by offering airplanes and services that deliver superior design, efficiency and value to customers around the world. BDS integrates its resources in defense, intelligence, communications, security, space and services to deliver capability-driven solutions to its customers at reduced costs. Our BDS strategy is to leverage our core businesses to capture key next-generation programs while expanding our presence in adjacent and international markets, underscored by an intense focus on growth and productivity. Our strategy also benefits us as the cyclicality of commercial and defense markets sometimes offset. BCC facilitates, arranges, structures and provides selective financing solutions for our Boeing customers.

Consolidated Results of Operations

Earnings From Operations and Core Operating Earnings (Non-GAAP) The following table summarizes key indicators of consolidated results of operations:

(Dollars in millions, except per share data)
Years ended December 31,	2014			2013			2012
Revenues		$90,762			$86,623			$81,698
GAAP
Earnings from operations	7,473			6,562			6,290
Operating margins	8.2		%	7.6		%	7.7		%
Effective income tax rate	23.7		%	26.4		%	34.0		%
Net earnings		$5,446			$4,585			$3,900
Diluted earnings per share		$7.38			$5.96			$5.11
Non-GAAP (1)
Core operating earnings		$8,860			$7,876			$7,189
Core operating margin	9.8		%	9.1		%	8.8		%
Core earnings per share		$8.60			$7.07			$5.88

⁽¹⁾ These measures exclude certain components of pension and other postretirement benefit expense. See page 42 for important information about these non-GAAP measures and reconciliations to the most comparable GAAP measures.

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Revenues

The following table summarizes Revenues:

(Dollars in millions)
Years ended December 31,	2014			2013		2012
Commercial Airplanes		$59,990			$52,981		$49,127
Defense, Space & Security	30,881			33,197		32,607
Boeing Capital	416			408		468
Unallocated items, eliminations and other	(525		)	37		(504		)
Total		$90,762			$86,623		$81,698

Revenues in 2014increased by $4,139 million or 5% compared with 2013. Commercial Airplanes revenues increased by $7,009 million primarily due to higher new airplane deliveries. BDS revenues decreased by $2,316 million due to lower revenues in all three segments. Revenues in 2013 increased by $4,925 million or 6% compared with 2012. Commercial Airplanes revenues increased by $3,854 million due to higher new airplane deliveries. BDS revenues increased by $590 million due to higher revenues in the Network & Space Systems (N&SS) and Global Services & Support (GS&S) segments, partially offset by lower revenues in the Boeing Military Aircraft (BMA) segment. The change in unallocated items, eliminations and other in 2014, 2013 and 2012 primarily reflects the timing of eliminations for intercompany aircraft deliveries.

Earnings From Operations

The following table summarizes Earnings from operations:

(Dollars in millions)
Years ended December 31,	2014			2013			2012
Commercial Airplanes		$6,411			$5,795			$4,711
Defense, Space & Security	3,133			3,235			3,068
Boeing Capital	92			107			88
Unallocated pension and other postretirement benefit expense	(1,387		)	(1,314		)	(899		)
Other unallocated items and eliminations	(776		)	(1,261		)	(678		)
Earnings from operations (GAAP)		$7,473			$6,562			$6,290
Unallocated pension and other postretirement benefit expense	1,387			1,314			899
Core operating earnings (Non-GAAP)		$8,860			$7,876			$7,189

Earnings from operations in 2014increased by $911 million compared with 2013 primarily reflecting higher earnings at Commercial Airplanes of $616 million and lower unallocated items and eliminations of $485 million. The decrease in unallocated items is due to the A-12 litigation settlement of $406 million which was recorded in 2013 and lower 2014 deferred compensation of $194 million.

Earnings from operations in 2013 increased by $272 million compared with 2012. Commercial Airplanes earnings increased by $1,084 million primarily reflecting higher new airplane deliveries and lower research and development expense. BDS earnings increased by $167 million due to higher earnings in the N&SS and BMA segments partially offset by lower earnings in the GS&S segment. Unallocated pension and other postretirement benefit expense in 2013 reduced earnings by $415 million compared with 2012 due to higher unallocated pension expense offset by lower unallocated other postretirement expense. Other unallocated items and eliminations in 2013 reduced earnings by $583 million primarily due to a charge recorded in 2013 related to the settlement of the A-12 aircraft litigation and higher 2013 deferred

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compensation expense. The A-12 aircraft litigation settlement resulted in the Company recording a $406 million pre-tax charge in 2013, which consisted of writing-off A-12 inventory, recorded as cost of sales, and providing three EA-18G Growlers at no cost to the U.S. Navy, recorded as a reduction in revenues.

Core operating earnings in 2014increased by $984 million compared with 2013 primarily reflecting higher earnings at Commercial Airplanes and the 2013 A-12 charge. Core operating earnings in 2013 increased by $687 million compared with 2012 as higher earnings at Commercial Airplanes and BDS more than offset the A-12 charge and higher 2013 deferred compensation expense.

Unallocated Items, Eliminations and Other The most significant items included in Unallocated items, eliminations and other are shown in the following table:

(Dollars in millions)
Years ended December 31,	2014			2013			2012
Share-based plans		($67	)		($95	)		($81	)
Deferred compensation	(44		)	(238		)	(75		)
Eliminations and other	(665		)	(522		)	(643		)
Litigation settlements				(406		)	121
Sub-total (included in core operating earnings*)	(776		)	(1,261		)	(678		)
Pension	(1,469		)	(1,374		)	(787		)
Postretirement	82			60			(112		)
Pension and other postretirement benefit expense (excluded from core operating earnings*)	(1,387		)	(1,314		)	(899		)
Total unallocated items, eliminations and other		($2,163	)		($2,575	)		($1,577	)

* Core operating earnings is a Non-GAAP measure that excludes certain components of pension and other postretirement benefit expense. See page 42.

Deferred compensation expense decreased by $194 million in 2014 and increased by $163 million in 2013, primarily driven by changes in our stock price.

Eliminations and other unallocated expense increased by $143 million in 2014 decreased by $121 million in 2013 primarily due to insurance recoveries which were recorded in the third quarter of 2013.

Litigation settlements include the 2013 charge of $406 million related to the settlement of the A-12 litigation and the $121 million benefit recorded in 2012 due to a favorable court judgment on satellite litigation.

Net periodic benefit cost related to pension and other postretirement benefits totaled $2,483 million, $3,769 million and $3,383 million in 2014, 2013 and 2012, respectively. The decrease in 2014 net periodic benefit cost related to pension is primarily due to lower amortization of actuarial losses due to higher discount rates which more than offset higher 2014 curtailment charges. The increase in 2013 is primarily due to higher amortization of actuarial losses and higher service costs driven by lower discount rates.

Unallocated pension expense in 2014 reflects pension charges of $395 million, primarily for pension curtailment costs. See Note 14. The unallocated pension expense in 2013 reflects a pension curtailment charge of $73 million related to the decision in September 2013 to end production of the C-17 aircraft in 2015. See Note 11. During the third quarter of 2013 we also determined that the pension expense in prior years was overstated and recorded a reduction in pension expense of $63 million.

A portion of net periodic benefit cost is recognized in Earnings from operations in the period incurred and the remainder is included in inventory at the end of the reporting period and recorded in Earnings from operations in subsequent periods. Costs are allocated to the business segments as described in Note 21.

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Net periodic benefit costs included in Earnings from operations were as follows:

(Dollars in millions)	Pension									Other Postretirement Benefits
Years ended December 31,	2014			2013			2012			2014			2013			2012
Allocated to business segments		($1,746	)		($1,662	)		($1,620	)		($369	)		($413	)		($431	)
Unallocated items, eliminations and other	(1,469		)	(1,374		)	(787		)	82			60			(112		)
Total		($3,215	)		($3,036	)		($2,407	)		($287	)		($353	)		($543	)

Other Earnings Items

(Dollars in millions)
Years ended December 31,	2014			2013			2012
Earnings from operations		$7,473			$6,562			$6,290
Other income, net	(3		)	56			62
Interest and debt expense	(333		)	(386		)	(442		)
Earnings before income taxes	7,137			6,232			5,910
Income tax expense	(1,691		)	(1,646		)	(2,007		)
Net earnings from continuing operations		$5,446			$4,586			$3,903

Interest and debt expense decreased by $53 million in 2014 and $56 million in 2013 as a result of lower weighted average debt balances.

Our effective income tax rates were 23.7%, 26.4% and 34.0% for the years ended December 31, 2014, 2013 and 2012, respectively. Our 2014 effective tax rate was lower than 2013 primarily due to tax benefits of $265 million related to tax basis adjustments and $259 million related to audit settlements, both recorded in the second quarter of 2014. Our 2013 effective tax rate was lower than 2012 due to research tax credits for the 2013 and 2012 tax years that were both recorded in 2013 and the issuance of research and experimental regulations which resulted in $212 million of previously unrecognized tax benefits being recorded in the fourth quarter of 2013.

For additional discussion related to Income Taxes, see Note 4 to our Consolidated Financial Statements.

Total Costs and Expenses (“Cost of Sales”)

Cost of sales, for both products and services, consists primarily of raw materials, parts, sub-assemblies, labor, overhead and subcontracting costs. Our Commercial Airplanes segment predominantly uses program accounting to account for cost of sales and BDS predominantly uses contract accounting. Under program accounting, cost of sales for each commercial airplane program equals the product of (i) revenue recognized in connection with customer deliveries and (ii) the estimated cost of sales percentage applicable to the total remaining program. Under contract accounting, the amount reported as cost of sales is determined by applying the estimated cost of sales percentage to the amount of revenue recognized.

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The following table summarizes cost of sales:

(Dollars in millions)
Years ended December 31,	2014			2013			Change			2013			2012			Change
Cost of sales		$76,752			$73,268			$3,484			$73,268			$68,665			$4,603
Cost of sales as a % of revenues	84.6		%	84.6		%	0.0		%	84.6		%	84.0		%	0.6		%

Cost of sales in 2014increased by $3,484 million, or 5% compared with the same period in 2013, primarily driven by the increase in revenue. Cost of sales at Commercial Airplanes increased by $6,265 million, or 14%, primarily driven by the 13% increase in revenues. Cost of sales at BDSdecreased by $2,085 million, or 8% primarily due to the 7% reduction in revenues. Cost of sales increased in 2013 by $4,603 million, or 7% compared with the prior year primarily driven by the 6% increase in revenues and higher unallocated pension and other postretirement costs. Cost of sales at Commercial Airplanes increased by $2,957 million, or 7%, primarily driven by the 8% increase in revenues and cost of sales at BDS increased by $407 million, primarily driven by the 2% increase in revenues.

Research and Development The following table summarizes our Research and development expense:

(Dollars in millions)
Years ended December 31,	2014		2013		2012
Commercial Airplanes		$1,881		$1,807		$2,049
Defense, Space & Security	1,158		1,215		1,189
Other	8		49		60
Total		$3,047		$3,071		$3,298

Research and development expense in 2014decreased by $24 million compared to 2013. Commercial Airplanes spending increased on 777X, 787-10 and 737 MAX partially offset by lower spending on the 787-9. Research and development expense in 2013 decreased by $227 million compared to 2012 primarily due to lower spending at Commercial Airplanes on the 787 program partially offset by increased spending on the 737 MAX and 777X.

Backlog

Our backlog at December 31 was as follows:

(Dollars in millions)	2014		2013		2012
Contractual Backlog:
Commercial Airplanes		$440,118		$372,980		$317,287
Defense, Space & Security:
Boeing Military Aircraft	21,143		23,604		27,898
Network & Space Systems	8,935		9,832		10,078
Global Services & Support	16,896		16,245		17,092
Total Defense, Space & Security	46,974		49,681		55,068
Total contractual backlog		$487,092		$422,661		$372,355
Unobligated backlog		$15,299		$18,267		$17,873

Contractual backlog of unfilled orders excludes purchase options, announced orders for which definitive contracts have not been executed, and unobligated U.S. and non-U.S. government contract funding. The

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increase in contractual backlog at December 31, 2014 compared with December 31, 2013 was primarily due to commercial airplane orders and reclassifications from unobligated backlog related to incremental funding. The increase was partially offset by commercial airplane deliveries and revenues recognized on awarded contracts. The increase in contractual backlog during 2013 was primarily due to commercial aircraft orders in excess of deliveries partially offset by cancellation of orders.

Unobligated backlog includes U.S. and non-U.S. government definitive contracts for which funding has not been authorized. The unobligated backlog at December 31, 2014 decreased from December 31, 2013 primarily due to reclassifications to contractual backlog related to incremental funding for BDS contracts, partially offset by contract awards. The unobligated backlog increased during 2013 compared to 2012 primarily due to CH-47 Chinook and V-22 Osprey multi-year contract awards. The increase was partially offset by reclassifications to contractual backlog related to incremental funding for the U.S. Air Force KC-46A Tanker and F-15 multi-year contracts.

Additional Considerations

KC-46A Tanker In 2011, we were awarded a contract from the U.S. Air Force (USAF) to design, develop, manufacture and deliver four next generation aerial refueling tankers. The KC-46A Tanker is a derivative of our 767 commercial aircraft. This contract is a fixed-price incentive fee contract valued at $4.9 billion and involves highly complex designs and systems integration. During the second quarter of 2014, we recorded a reach-forward loss of $425 million on this contract. $238 million of this loss was recorded at our Commercial Airplanes segment and the remaining $187 million was recorded in our BMA segment. The reach-forward loss was primarily due to initial engineering and design issues discovered during systems installation that are requiring rework and additional engineering and manufacturing labor to complete this contract. To date the program has met all customer contractual milestones.

This contract contains production options. If all options under the contract are exercised, we expect to deliver 179 aircraft for a total expected contract value of approximately $30 billion. The USAF is scheduled to authorize low rate initial production in 2015 subject to satisfactory progress being made on the development contract.

Russia/Ukraine We continue to monitor political unrest involving Russia and Ukraine, where we and some of our suppliers source titanium products and/or have operations. A number of our commercial customers also have operations in Russia and Ukraine. To date, we have not experienced any significant disruptions to production or deliveries. Should suppliers or customers experience disruption, our production and/or deliveries could be materially impacted.

Segment Results of Operations and Financial Condition

Commercial Airplanes

Business Environment and Trends

Airline Industry Environment Global economic activity and global trade, which are the primary drivers of the demand for air travel, grew below the long-term average for the third year in a row in 2014. Despite this, passenger traffic grew from 5% to 6% annually between 2012 and 2014 and is forecasted to continue above the long-term trend of 5% in 2015. There continues to be significant variation between regions and airline business models, with airlines operating in emerging economies and low-cost-carriers leading growth.

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Air cargo traffic grew at close to long-term average rates in 2014, with continued improvement projected in 2015. In addition, capacity metrics such as load factors and freighter aircraft utilization are showing signs of improvement. The relative weakness of the air cargo market in recent years has impacted near-term demand for new freighter aircraft and freighter conversions. We continue to closely monitor the impact of this trend on our business.

Airline financial performance also plays a role in the demand for new capacity. Airlines continue to focus on increasing revenue through alliances, partnerships, new marketing initiatives, and effective leveraging of ancillary services and related revenues. Airlines are also relentlessly focusing on reducing costs by renewing fleets to leverage more efficient airplanes. Net profits for the global airline industry are estimated to total $20 billion in 2014 compared to $11 billion in 2013. Together with strong demand growth, we expect lower oil prices will improve airline profitability in 2015.

The long-term outlook for the industry remains positive due to the fundamental drivers of air travel growth: economic growth and the increasing propensity to travel due to increased trade, globalization, and improved airline services driven by liberalization of air traffic rights between countries. Our 20-year forecast is for a long-term average growth rate of 5% per year for passenger and cargo traffic, based on a projected average annual worldwide real economic growth rate of 3%. Based on long-term global economic growth projections, and factoring in increased utilization of the worldwide airplane fleet and requirements to replace older airplanes, we project a $5.2 trillion market for approximately 37,000 new airplanes over the next 20 years.

The industry remains vulnerable to near-term exogenous developments including fuel price spikes, credit market shocks, terrorism, natural disasters, conflicts, epidemics and increased global environmental regulations.

Industry Competitiveness The commercial jet airplane market and the airline industry remain extremely competitive. Market liberalization in Europe and Asia is enabling low-cost airlines to continue gaining market share. These airlines are increasing the pressure on airfares. This results in continued cost pressures for all airlines and price pressure on our products. Major productivity gains are essential to ensure a favorable market position at acceptable profit margins.

Continued access to global markets remains vital to our ability to fully realize our sales potential and long-term investment returns. Approximately 11% of Commercial Airplanes’ contractual backlog, in dollar terms, is with U.S. airlines, including cargo carriers.

We face aggressive international competitors who are intent on increasing their market share. They offer competitive products and have access to most of the same customers and suppliers. With government support, Airbus has historically invested heavily to create a family of products to compete with ours. Regional jet makers Embraer and Bombardier, coming from the less than 100-seat commercial jet market, continue to develop larger and more capable airplanes. Additionally, other competitors from Russia, China and Japan are developing commercial jet aircraft in the market above 90 seats. Many of these competitors have historically enjoyed access to government-provided financial support, including “launch aid,” which greatly reduces the commercial risks associated with airplane development activities and enables airplanes to be brought to market more quickly than otherwise possible. This market environment has resulted in intense pressures on pricing and other competitive factors, and we expect these pressures to continue or intensify in the coming years.

Worldwide, airplane sales are generally conducted in U.S. dollars. Fluctuating exchange rates affect the profit potential of our major competitors, all of whom have significant costs in other currencies. Changes in value of the U.S. dollar relative to their local currencies impact competitors’ revenues and profits. Competitors routinely respond to a relatively weaker U.S. dollar by aggressively reducing costs and increasing productivity, thereby improving their longer-term competitive posture. Competitors can use the improved efficiency to fund product development, gain market share through pricing and/or improve earnings.

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We are focused on improving our processes and continuing cost-reduction efforts. We continue to leverage our extensive customer support services network which includes aviation support, spare parts, training, maintenance documents and technical advice for airlines throughout the world. This enables us to provide a high level of customer satisfaction and productivity. These efforts enhance our ability to pursue pricing strategies that enable us to price competitively.

Many of our non-U.S. customers finance aircraft purchases through the Export-Import Bank of the United States. In September 2014, the bank’s charter was extended and is now set to expire on June 30, 2015. If the bank’s charter is not renewed or if the bank’s existing or future funding authority is insufficient to meet our customers’ needs, we may fund additional commitments and/or enter into new financing arrangements with customers. Certain of our non-U.S. customers also may seek to delay aircraft purchases if they cannot obtain financing at reasonable costs. We continue to work with our customers to mitigate risks to the timing of future deliveries and are assisting with alternative third party financing sources.

Results of Operations

(Dollars in millions)
Years ended December 31,	2014			2013			2012
Revenues		$59,990			$52,981			$49,127
% of total company revenues	66		%	61		%	60		%
Earnings from operations		$6,411			$5,795			$4,711
Operating margins	10.7		%	10.9		%	9.6		%
Research and development		$1,881			$1,807			$2,049
Contractual backlog		$440,118			$372,980			$317,287
Unobligated backlog		$360			$660			$1,466

Revenues

Commercial Airplanes revenues increased by $7,009 million or 13% in 2014 compared with 2013 and by $3,854 million or 8% in 2013 compared with 2012 primarily due to higher new airplane deliveries.

Commercial Airplanes deliveries as of December 31 were as follows:

	737	*	747	†	767	777	787	†	Total
2014
Cumulative deliveries	5,218		1,501		1,067	1,263	228
Deliveries	485	(15)	19	(3)	6	99	114		723
2013
Cumulative deliveries	4,733		1,482		1,061	1,164	114
Deliveries	440	(8)	24		21	98	65	(1)	648
2012
Cumulative deliveries	4,293		1,458		1,040	1,066	49
Deliveries	415	(9)	31		26	83	46	(3)	601

*    Intercompany deliveries identified by parentheses

† Aircraft accounted for as revenues by Commercial Airplanes and as operating leases in consolidation identified by parentheses

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Earnings From Operations

Earnings from operations in 2014increased by $616 million or 11% compared with 2013. The increase in earnings is primarily due to higher earnings of $947 million driven by higher new airplane deliveries and commercial aviation services revenue growth. This earnings increase was partially offset by a reach-forward loss of $238 million recorded in the second quarter of 2014 related to the USAF KC-46A Tanker contract and higher research and development expense of $74 million. The increase in research and development reflects higher spending on the 777X, 787-10 and 737 MAX, which more than offset lower 787-9 spending. Operating margins decreased from 10.9% in 2013 to 10.7% in 2014 primarily due to the dilutive impact of 747 and 787 deliveries and the USAF KC-46A Tanker reach-forward loss.

Earnings from operations in 2013 increased by $1,084 million or 23% compared with 2012. The increase in earnings is primarily driven by higher new airplane deliveries of $842 million and lower research and development expense of $242 million due to lower spending on the 787 program partially offset by higher spending on the 737 MAX and 777X. Operating margins increased from 9.6% in 2012 to 10.9% in 2013 primarily due to higher deliveries and lower research and development expense partially offset by the dilutive impact of 787 deliveries.

Backlog

Firm backlog represents orders for products and services where no contingencies remain before we and the customer are required to perform. Backlog does not include prospective orders where customer controlled contingencies remain, such as the customers receiving approval from their Board of Directors, shareholders or government and completing financing arrangements. All such contingencies must be satisfied or have expired prior to recording a new firm order even if satisfying such conditions is highly certain. Firm orders exclude options. A number of our customers may have contractual remedies that may be implicated by program delays. We continue to address customer claims and requests for other contractual relief as they arise. However, once orders are included in firm backlog, orders remain in backlog until canceled or fulfilled, although the value of orders is adjusted as changes to price and schedule are agreed to with customers.

The increase in contractual backlog during 2014 was due to orders in excess of deliveries partially reduced by cancellation of orders. The increase in contractual backlog during 2013 was due to orders in excess of deliveries partially reduced by cancellation of orders and changes in projected revenue escalation. The decrease in unobligated backlog during 2014 and 2013 was due to the reclassification from unobligated to contractual backlog related to incremental funding of the existing multi-year contract for Commercial Airplanes’ share of the USAF KC-46A Tanker contract.

Accounting Quantity The accounting quantity is our estimate of the quantity of airplanes that will be produced for delivery under existing and anticipated contracts. The determination of the accounting quantity is limited by the ability to make reasonably dependable estimates of the revenue and cost of existing and anticipated contracts. It is a key determinant of the gross margins we recognize on sales of individual airplanes throughout a program’s life. Estimation of each program’s accounting quantity takes into account several factors that are indicative of the demand for that program, including firm orders, letters of intent from prospective customers and market studies. We review our program accounting quantities quarterly.

The accounting quantity for each program may include units that have been delivered, undelivered units under contract, and units anticipated to be under contract in the reasonable future (anticipated orders). In developing total program estimates, all of these items within the accounting quantity must be considered.

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The following table provides details of the accounting quantities and firm orders by program as of December 31. Cumulative firm orders represent the cumulative number of commercial jet aircraft deliveries plus undelivered firm orders.

	Program
	737	747	767	777	777X	787
2014
Program accounting quantities	7,800	1,574	1,113	1,600	*	1,300
Undelivered units under firm orders	4,299	36	47	278	286	843
Cumulative firm orders	9,517	1,537	1,114	1,541	286	1,071
2013
Program accounting quantities	7,000	1,574	1,113	1,550	*	1,300
Undelivered units under firm orders	3,680	55	49	314	66	916
Cumulative firm orders	8,413	1,537	1,110	1,478	66	1,030
2012
Program accounting quantities	6,600	1,574	1,103	1,450		1,100
Undelivered units under firm orders	3,074	67	68	365		799
Cumulative firm orders	7,367	1,525	1,108	1,431		848

* The accounting quantity for the 777X will be determined in the year of first airplane delivery, targeted for 2020.

Program Highlights

737 Program The accounting quantity for the 737 program increased by 800 units during 2014 due to the program’s normal progress of obtaining additional orders and delivering airplanes. The accounting quantity includes NG and MAX units. We increased our production rate from 38 to 42 per month in the second quarter of 2014 and plan an additional increase to 47 per month in 2017. On October 2, 2014 we announced our plan to further increase the rate to 52 per month in 2018. First delivery of the 737 MAX is expected in 2017.

747 Program Lower-than-expected demand for large commercial passenger and freighter aircraft has resulted in ongoing pricing pressures and fewer orders than anticipated. We are currently producing at a rate of 1.5 per month with plans to reduce the rate to 1.3 per month in September 2015. We have a number of unsold 747 production positions and remain focused on obtaining additional orders and implementing cost-reduction efforts. If market, production and other risks cannot be mitigated, the program could face a reach-forward loss that may be material.

767 Program The 767 assembly line includes a 767 derivative to support the tanker program. In October 2014 we increased our combined tanker and commercial production rate from 1 to 1.5 per month and plan to increase to 2 per month in 2016.

777 Program The accounting quantity for the 777 program increased by 50 units during 2014 due to the program’s normal progress of obtaining additional orders and delivering airplanes. We are currently producing at a rate of 8.3 per month. In the fourth quarter of 2013, we launched the 777X, which features a new composite wing, new engines and folding wing-tips. The 777X will have a separate program accounting quantity, which will be determined in the year of first airplane delivery, targeted for 2020.

787 Program During the second quarter of 2014 we completed initial type certification for the 787-9 and received design and production certifications. We delivered the first 787-9 airplane in June 2014. First delivery of the 787-10 derivative aircraft is targeted for 2018.

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We are producing at a rate of 10 per month and the first delivery at this rate occurred in March 2014. We remain focused on stabilizing 787 production rates at 10 per month while improving aircraft reliability and satisfying customer mission and performance requirements. We continue to monitor and address challenges associated with aircraft production and assembly, including management of our manufacturing operations and extended global supply chain, completion and integration of traveled work, incorporating changes identified during 787-8 flight testing to already completed aircraft, as well as the incorporation of the 787-9 derivative into the manufacturing process. In addition, we continue to work with our customers and suppliers to assess the specific impacts of schedule changes, including requests for contractual relief related to delivery delays and supplier assertions.

During 2009, we concluded that the first three flight-test 787 aircraft could not be sold as previously anticipated due to the inordinate amount of rework and unique and extensive modifications made to those aircraft. As a result, costs associated with these airplanes were included in research and development expense. Based on sales activity and market interest we continue to believe that the remaining 787 flight-test aircraft are commercially saleable and we continue to include costs related to these aircraft in program inventory. If we determine that any of the remaining flight-test aircraft cannot be sold, we may incur additional charges related to the reclassification of costs associated with those aircraft to research and development expense.

The accounting quantity of 1,300 units remains unchanged and reflects the incorporation of revenue and cost estimates associated with the 787-10 and planned production rate increases to 12 and 14 per month in future years. The combination of production challenges, change incorporation, schedule delays and customer and supplier impacts has created significant pressure on program profitability. If risks related to these challenges, together with risks associated with planned production rate increases or introducing the 787-10 derivative as scheduled cannot be mitigated, the program could face additional customer claims and/or supplier assertions, further pressures on program profitability and/or a reach-forward loss. We continue to implement mitigation plans and cost-reduction efforts to improve program profitability and address program risks.

Fleet Support We provide the operators of our commercial airplanes with assistance and services to facilitate efficient and safe airplane operation. Collectively known as fleet support services, these activities and services begin prior to airplane delivery and continue throughout the operational life of the airplane. They include flight and maintenance training, field service support costs, engineering services, information services and systems and technical data and documents. The costs for fleet support are expensed as incurred and have been historically less than 1.5% of total consolidated costs of products and services.

Program Development The following chart summarizes the time horizon between go-ahead and planned initial delivery for major Commercial Airplanes derivatives and programs.

Reflects models in development during 2014

We launched the 787-10 in June 2013 and the 777X in November 2013.

Additional Considerations

The development and ongoing production of commercial aircraft is extremely complex, involving extensive coordination and integration with suppliers and highly-skilled labor from thousands of employees and other partners. Meeting or exceeding our performance and reliability standards, as well as those of customers

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and regulators, can be costly and technologically challenging. In addition, the introduction of new aircraft and derivatives, such as the 787-10, 737 MAX and 777X, involves increased risks associated with meeting development, production and certification schedules. As a result, our ability to deliver aircraft on time, satisfy performance and reliability standards and achieve or maintain, as applicable, program profitability is subject to significant risks. Factors that could result in lower margins (or a material charge if an airplane program has or is determined to have reach-forward losses) include the following: changes to the program accounting quantity, customer and model mix, production costs and rates, changes to price escalation factors due to changes in the inflation rate or other economic indicators, performance or reliability issues involving completed aircraft, capital expenditures and other costs associated with increasing or adding new production capacity, learning curve, additional change incorporation, anticipated cost reductions, flight test and certification schedules, costs, schedule and demand for new airplanes and derivatives and status of customer claims, supplier assertions and other contractual negotiations. While we believe the cost and revenue estimates incorporated in the consolidated financial statements are appropriate, the technical complexity of our airplane programs creates financial risk as additional completion costs may become necessary or scheduled delivery dates could be extended, which could trigger termination provisions, order cancellations or other financially significant exposure.

Defense, Space & Security

Business Environment and Trends

United States Government Defense Environment Overview U.S. government appropriation levels remain subject to significant uncertainty. In August 2011, the Budget Control Act (The Act) established limits on U.S. government discretionary spending, including a reduction of defense spending by approximately $490 billion between the 2012 and 2021 U.S. government fiscal years. The Act also provided that the defense budget would face “sequestration” cuts of up to an additional $500 billion during that same period to the extent that discretionary spending limits are exceeded. While the impact of sequestration cuts was reduced with respect to FY2014 and FY2015 following the enactment of The Bipartisan Budget Act in December 2013, significant uncertainty remains with respect to overall levels of defense spending. It is likely that U.S. government discretionary spending levels for FY2016 and beyond will continue to be subject to significant pressure, including risk of future sequestration cuts.

Significant uncertainty also continues with respect to program-level appropriations for the U.S. Department of Defense (U.S. DoD) and other government agencies, including the National Aeronautics and Space Administration, within the overall budgetary framework described above. Future budget cuts, including cuts mandated by sequestration, or future procurement decisions associated with the authorization and appropriations process could result in reductions, cancellations and/or delays of existing contracts or programs. Any of these impacts could have a material effect on the results of the Company’s operations, financial position and/or cash flows.

In addition to the risks described above, if Congress is unable to pass appropriations bills in a timely manner, a government shutdown could result which could have impacts above and beyond those resulting from budget cuts or sequestration impacts. For example, requirements to furlough employees in the U.S. DoD or other government agencies could result in payment delays, impair our ability to perform work on existing contracts, and/or negatively impact future orders. The Consolidated and Further Continuing Appropriations Act, 2015 enacted December 2014, funds most U.S. government agencies through September 2015, including the U.S. DoD, National Aeronautics and Space Administration (NASA) and the Federal Aviation Administration (FAA).

International Environment Overview The international market continues to be driven by complex and evolving security challenges and the need to modernize aging equipment and inventories, while faced with constrained budgets. In Europe, the continuing financial challenges are forcing governments to institute austerity measures negatively impacting defense spending in the near term.

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The strongest opportunities for BDS in 2015 will be the Middle East and Asia Pacific regions where the relative financial strength of these economies, coupled with a broad spectrum of evolving threats, are expected to result in procurement of defense and security systems.

BDS Realignment

Effective during the first quarter of 2014, certain programs were realigned between BDS segments. The realignments include certain BMA aircraft and modernization programs which were moved to GS&S. Business segment data for all periods presented have been adjusted to reflect the realignment. See Note 21.

Results of Operations

(Dollars in millions)
Years ended December 31,	2014			2013			2012
Revenues		$30,881			$33,197			$32,607
% of total company revenues	34		%	38		%	40		%
Earnings from operations		$3,133			$3,235			$3,068
Operating margins	10.1		%	9.7		%	9.4		%
Contractual backlog		$46,974			$49,681			$55,068
Unobligated backlog		$14,939			$17,607			$16,407

Since our operating cycle is long-term and involves many different types of development and production contracts with varying delivery and milestone schedules, the operating results of a particular year, or year-to-year comparisons of revenues, earnings and backlog may not be indicative of future operating results. In addition, depending on the customer and their funding sources, our orders might be structured as annual follow-on contracts, or as one large multi-year order or long-term award. As a result, period-to-period comparisons of backlog are not necessarily indicative of future workloads. The following discussions of comparative results among periods should be viewed in this context.

Deliveries of units for new-build production aircraft, excluding remanufactures and modifications, were as follows:

Years ended December 31,	2014	2013	2012
F/A-18 Models	44	48	48
F-15 Models	14	14	8
C-17 Globemaster III	7	10	10
CH-47 Chinook	54	44	51
AH-64 Apache	45	37	19
P-8 Models	11	11	5
AEW&C	3		3
C-40A	1
Total new-build production aircraft	179	164	144

Revenues

BDS revenues in 2014decreased by $2,316 million compared with 2013 primarily due to lower revenues of $1,774 million in the BMA segment and lower revenues of $509 million in the N&SS segment. BDS revenues in 2013 increased by $590 million compared with 2012 due to higher revenues of $601 million

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and $92 million in the N&SS and GS&S segments, partially offset by lower revenues of $103 million in the BMA segment.

Earnings From Operations

BDS earnings from operations in 2014decreased by $102 million compared with 2013 due to lower earnings of $200 million and $21 million in the BMA and N&SS segments, partially offset by higher earnings of $119 million in the GS&Ssegment. Included above are net favorable cumulative contract catch-up adjustments, which were $96 millionhigher in 2014 compared with 2013, primarily reflecting higher favorable adjustments in the GS&S segment.

BDS earnings from operations in 2013 increased by $167 million compared with 2012 due to higher earnings of $157 million and $17 million in the N&SS and BMA segments, partially offset by lower earnings of $7 million in the GS&S segment.Included above are net favorable cumulative contract catch-up adjustments, which were $137 million lower in 2013 compared with 2012, primarily reflecting lower favorable adjustments in the GS&S and BMA segments.

Backlog

Total backlog is comprised of contractual backlog, which represents work we are on contract to perform for which we have received funding, and unobligated backlog, which represents work we are on contract to perform for which funding has not yet been authorized and appropriated. BDS total backlog was $61,913 million at December 31, 2014, reflecting a decrease of 8% from December 31, 2013. BDS total backlog was $67,288 million at December 31, 2013, reflecting a decrease of 6% from December 31, 2012. For further details on the changes between periods, refer to the discussions of the individual segments below.

Additional Considerations

Our BDS business includes a variety of development programs which have complex design and technical challenges. Many of these programs have cost-type contracting arrangements. In these cases, the associated financial risks are primarily in reduced fees, lower profit rates or program cancellation if cost, schedule or technical performance issues arise. Examples of these programs include Ground-based Midcourse Defense (GMD), Proprietary and Space Launch System (SLS) programs.

Some of our development programs are contracted on a fixed-price basis. Many of these programs have highly complex designs. As technical or quality issues arise during development, we may experience schedule delays and cost impacts, which could increase our estimated cost to perform the work or reduce our estimated price, either of which could result in a material charge or otherwise adversely affect our financial condition. These programs are ongoing, and while we believe the cost and fee estimates incorporated in the financial statements are appropriate, the technical complexity of these programs creates financial risk as additional completion costs may become necessary or scheduled delivery dates could be extended, which could trigger termination provisions, the loss of satellite in-orbit incentive payments, or other financially significant exposure. These programs have risk for reach-forward losses if our estimated costs exceed our estimated contract revenues. Examples of significant fixed-price development programs include Airborne Early Warning and Control (AEW&C), India P-8I, Saudi F-15, USAF KC-46A Tanker, Commercial Crew and commercial and military satellites.

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Boeing Military Aircraft

Results of Operations

(Dollars in millions)
Years ended December 31,	2014			2013			2012
Revenues		$13,511			$15,285			$15,388
% of total company revenues	15		%	18		%	19		%
Earnings from operations		$1,304			$1,504			$1,487
Operating margins	9.7		%	9.8		%	9.7		%
Contractual backlog		$21,143			$23,604			$27,898
Unobligated backlog		$8,030			$10,058			$8,671

Revenues

BMA revenues in 2014decreased by $1,774 million, or 12%, compared with 2013 primarily due to a reduction of revenue of $1,730 million related to F-15 and KC-46A Tanker milestones, fewer C-17 aircraft deliveries and delivery mix on the P-8 program.

BMA revenues in 2013 decreased by $103 million compared with 2012 primarily due to a reduction of $1,320 million related to fewer deliveries of AEW&C aircraft to Australia and the Republic of Korea and customer and delivery mix for the F/A-18 and C-17 programs. This reduction was partially offset by an increase of $1,168 million related to higher 2013 deliveries of P-8 aircraft and Apache rotorcraft, as well as non-recurring effort on several Chinook programs.

Earnings From Operations

BMA earnings from operations in 2014decreased by $200 million, or 13%, compared with 2013 primarily due to 2014 charges of $235 million and lower earnings of $73 million related to fewer deliveries on the C-17 program. The charges recorded in 2014 included $187 million related to the USAF KC-46A Tanker contract and $48 million to write off inventory and accrue termination liabilities as a result of our 2014 decision to produce three fewer C-17 aircraft in 2015 than previously planned. See Note 11. These decreases were partially offset by higher earnings of $65 million related to improved performance on the F/A-18 program. In addition, in 2013, we recorded a charge of $64 million to write off inventory and accrue termination liabilities as a result of the Republic of Korea's announcement to restart its F-X fighter aircraft competition. Net favorable cumulative contract catch-up adjustments were $39 millionlower in 2014 than in 2013 primarily driven by the reach-forward loss on the USAF KC-46A Tanker contract, partially offset by higher favorable adjustments to the F/A-18 and F-15 programs.

BMA earnings from operations in 2013 increased by $17 million compared with 2012 primarily due to increased deliveries and higher revenues on the P-8, Apache and Chinook programs of $263 million partially offset by lower earnings of $175 million related to initial revenues in 2012 on the Saudi F-15 program and lower C-17 performance. Net favorable cumulative contract catch-up adjustments were $62 millionlower in 2013 than in 2012, primarily driven by less favorable adjustments to the F-15 program. In the third quarter of 2013, we decided to end production of C-17 aircraft in 2015. See Note 11. Also in the third quarter of 2013, we recorded a charge of $64 million to write off inventory and accrue termination liabilities as a result of the Republic of Korea's announcement that it will restart its F-X fighter aircraft competition.

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Backlog

BMA total backlog at December 31, 2014 was $29,173 million, a decrease of 13% reflecting revenue recognized on contracts awarded in prior years, partially offset by contract awards for the F/A-18, P-8 and Apache programs. BMA total backlog was $33,662 million at December 31, 2013, reflecting a decrease of 8% from December 31, 2012 primarily due to revenues recognized on F-15, F/A-18 and C-17 program contracts awarded in prior years, partially offset by CH-47 Chinook and V-22 Osprey multi-year contract awards.

Additional Considerations

C-17 and F/A-18 See the discussion of the C-17 and F/A-18 programs in Note 11 to our Consolidated Financial Statements.

KC-46A Tanker See the discussion of the KC-46A Tanker program on page 24.

Network & Space Systems

Results of Operations

(Dollars in millions)
Years ended December 31,	2014			2013			2012
Revenues		$8,003			$8,512			$7,911
% of total company revenues	9		%	10		%	10		%
Earnings from operations		$698			$719			$562
Operating margins	8.7		%	8.4		%	7.1		%
Contractual backlog		$8,935			$9,832			$10,078
Unobligated backlog		$5,987			$6,076			$6,937

Revenues

N&SS revenues in 2014decreased by $509 million compared with 2013 primarily due to a reduction of $812 million related to lower volume on several government satellite, Electronic and Information Solutions (E&IS) and proprietary programs, partially offset by $257 million related to higher volume on the Commercial Crew and SLS programs.

N&SS revenues in 2013 increased by $601 million compared with 2012 primarily due to higher revenue of $364 million on the SLS program awarded in the fourth quarter of 2012 and higher revenues of $329 million on our commercial satellite programs. This increase was partially offset by lower revenues of $196 million on our E&IS programs.

New-build satellite deliveries were as follows:

Years ended December 31,	2014	2013	2012
Commercial and civil satellites	5	3	3
Military satellites		4	7

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Earnings From Operations

N&SS earnings from operations in 2014decreased by $21 million compared with 2013 primarily due to lower earnings of $84 million on several commercial satellite programs related to lower milestone volume, partially offset by higher earnings of $68 million due to improved performance on several government satellite programs and our United Launch Alliance (ULA) joint venture as well as higher volume on Commercial Crew during the initial performance period. Net favorable cumulative contract catch-up adjustments were $12 millionhigher in 2014 than in 2013.

N&SS earnings from operations in 2013increased by $157 million or 28% compared with 2012 primarily due to higher revenues and mix in our civil and commercial satellite programs and the SLS program. These increases were partially offset by lower earnings from our United Space Alliance (USA) joint venture reflecting a gain of $39 million recorded in the third quarter of 2012 related to the termination and settlement of USA's defined benefit pension plans. The impact of net favorable cumulative contract catch-up adjustments was not significant in 2013.

N&SS earnings from operations include equity earnings of $211 million, $171 million and $180 million primarily from the ULA joint venture in 2014, 2013 and 2012, respectively.

Backlog

N&SS total backlog was $14,922 million at December 31, 2014, reflecting a decrease of 6% from December 31, 2013 primarily due to revenue recognized on contracts awarded in prior years, partially offset by current year contract awards for the Commercial Crew, commercial satellite and missile defense system programs. N&SS total backlog was $15,908 at December 31, 2013, reflecting a decrease of 7% from December 31, 2012 primarily due to revenues recognized on contracts awarded in prior years, partially offset by government and commercial satellite contract awards.

Additional Considerations

United Launch Alliance See the discussion of Indemnifications to ULA and Financing Commitments in Notes 6, 11, and 12 to our Consolidated Financial Statements.

Sea Launch See the discussion of the Sea Launch receivables in Note 10 to our Consolidated Financial Statements.

LightSquared See the discussion of the LightSquared, LP receivables in Note 5 to our Consolidated Financial Statements.

Global Services & Support

Results of Operations

(Dollars in millions)
Years ended December 31,	2014			2013			2012
Revenues		$9,367			$9,400			$9,308
% of total company revenues	10		%	11		%	11		%
Earnings from operations		$1,131			$1,012			$1,019
Operating margins	12.1		%	10.8		%	10.9		%
Contractual backlog		$16,896			$16,245			$17,092
Unobligated backlog		$922			$1,473			$799

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Revenues

GS&S revenues in 2014decreased by $33 million compared with 2013 primarily due to lower volume of $277 million in Integrated Logistics (IL) and Training Systems & Government Services (TSGS) programs. These decreases were partially offset by higher Maintenance, Modification and Upgrades (MM&U) revenues of $245 million primarily related to deliveries of three AEW&C Peace Eagle to Turkey in 2014.

GS&S revenues in 2013increased by $92 million compared with 2012 primarily due to higher revenues on MM&U and TSGS programs, partially offset by decreases in several IL programs.

Earnings From Operations

GS&S earnings from operations in 2014increased by $119 million, or 12%, compared with 2013 primarily due to an increase of $145 million related to improved performance in several MM&U programs, most notably the AEW&C Peace Eagle contract. Net favorable cumulative contract catch-up adjustments were $123 millionhigher in 2014 than in 2013 primarily due to unfavorable adjustments on the AEW&C Peace Eagle contract in 2013.

GS&S earnings from operations in 2013 decreased by $7 million compared with 2012 primarily due to lower performance of $59 million in MM&U on the AEW&C Peace Eagle contract partially offset by $44 million of higher revenues and improved performance on several TSGS programs. Net favorable cumulative contract catch-up adjustments in 2013 were $90 millionlower than in 2012 primarily due to higher unfavorable adjustments on the AEW&C Peace Eagle contract.

Backlog

GS&S total backlog has remained consistent at $17,818 million, $17,718 million and $17,891 million at December 31, 2014, 2013 and 2012, respectively.

Boeing Capital

Business Environment and Trends

BCC’s gross customer financing and investment portfolio at December 31, 2014 totaled $3,506 million. A substantial portion of BCC’s portfolio is concentrated among certain U.S. commercial airline customers. BCC’s portfolio is also concentrated by varying degrees across Boeing aircraft product types, most notably out-of-production Boeing aircraft such as 717 aircraft.

BCC provided customer financing of $489 million and $220 million during 2014 and 2013. While we may be required to fund a number of new aircraft deliveries in 2015, we expect alternative financing will be available at reasonable prices from broad and globally diverse sources.

Aircraft values and lease rates are impacted by the number and type of aircraft that are currently out of service. Approximately 2,300 western-built commercial jet aircraft (9.8% of current world fleet) were parked at the end of 2014, including both in-production and out-of-production aircraft types. Of these parked aircraft, approximately 15% are not expected to return to service. At the end of 2013 and 2012, 9.2% and 10.0% of the western-built commercial jet aircraft were parked. Aircraft valuations could decline if significant numbers of additional aircraft, particularly types with relatively few operators, are placed out of service.

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Results of Operations    

(Dollars in millions)
Years ended December 31,	2014			2013			2012
Revenues		$416			$408			$468
Earnings from operations		$92			$107			$88
Operating margins	22		%	26		%	19		%

Revenues

BCC segment revenues consist principally of lease income from equipment under operating lease, interest income from financing receivables and notes, and other income. BCC’s revenues in 2014increased by $8 million compared with 2013 primarily due to higher aircraft return condition payments of $60 million, partially offset by a decrease in finance lease income and lower interest income. BCC’s revenues in 2013 decreased by $60 million compared with 2012 primarily due to lower other income driven by lower aircraft return condition payments and operating lease income.

Earnings From Operations

BCC’s earnings from operations are presented net of interest expense, provision for (recovery of) losses, asset impairment expense, depreciation on leased equipment and other operating expenses. Earnings from operations in 2014decreased by $15 million compared with 2013 due to $60 million increase in asset impairment expense, partially offset by a reduction in the provision for losses on receivables, driven by a change to a customer credit rating recorded in the first quarter of 2014, in addition to lower depreciation and interest expense. Earnings from operations in 2013 increased by $19 million compared with 2012 primarily due to lower depreciation expense and interest expense offset by lower revenues.

Financial Position

The following table presents selected financial data for BCC as of December 31:

(Dollars in millions)	2014		2013
Customer financing and investment portfolio, net		$3,493		$3,883
Other assets, primarily cash and short-term investments	615		505
Total assets		$4,108		$4,388
Other liabilities, primarily deferred income taxes		$1,212		$1,296
Debt, including intercompany loans	2,412		2,577
Equity	484		515
Total liabilities and equity		$4,108		$4,388
Debt-to-equity ratio	5.0-to-1		5.0-to-1

BCC’s customer financing and investment portfolio at December 31, 2014decreased from December 31, 2013 primarily due to portfolio run-off, partially offset by the origination of notes receivable and equipment under operating lease totaling $489 million. At December 31, 2014 and 2013, BCC had $48 million and $83 million of assets that were held for sale or re-lease. Additionally, aircraft subject to leases with a carrying value of approximately $183 million are scheduled to be returned off lease during 2015. We are seeking to remarket these aircraft or have the leases extended.

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BCC enters into certain transactions with Boeing, reflected in Unallocated items, eliminations and other, in the form of intercompany guarantees and other subsidies that mitigate the effects of certain credit quality or asset impairment issues on the BCC segment.

On October 31, 2014, Boeing issued $850 million of fixed and floating rate notes and entered into a concurrent intercompany loan on the same terms with BCC for $550 million, comprised of $300 million of fixed rate notes and $250 million of floating rate notes. Interest expense associated with these intercompany notes is included in Boeing Capital interest expense. See Note 13.

Restructurings and Restructuring Requests

From time to time, certain customers have requested a restructuring of their transactions with BCC. During 2014, BCC did not reach agreement on any restructuring requests that would have a material effect on our earnings, cash flows and/or financial position.

Liquidity and Capital Resources

Cash Flow Summary

(Dollars in millions)
Years ended December 31,	2014			2013			2012
Net earnings		$5,446			$4,585			$3,900
Non-cash items	2,515			2,516			2,728
Changes in working capital	897			1,078			880
Net cash provided by operating activities	8,858			8,179			7,508
Net cash provided/(used) by investing activities	2,467			(5,154		)	(3,757		)
Net cash used by financing activities	(8,593		)	(4,249		)	(3,477		)
Effect of exchange rate changes on cash and cash equivalents	(87		)	(29		)	18
Net increase/(decrease) in cash and cash equivalents	2,645			(1,253		)	292
Cash and cash equivalents at beginning of year	9,088			10,341			10,049
Cash and cash equivalents at end of period		$11,733			$9,088			$10,341

Operating Activities Net cash provided by operating activities was $8.9 billion during 2014, compared with $8.2 billion during 2013 and $7.5 billion in 2012. The increase of $0.7 billion in 2014 was primarily due to higher customer advances which more than offset higher gross inventory. The increase of $0.7 billion in 2013 was primarily due to increased customer receipts reflecting higher delivery and order volumes in 2013. Our investment in gross inventories increased by $7.6 billion in 2014, $5.7 billion in 2013 and $6.2 billion in 2012, driven by continued investment in commercial airplane program inventory, primarily 787 inventory. Advances and progress billings increased by $6.9 billion in 2014, $3.9 billion in 2013 and $1.9 billion in 2012, primarily due to payments from commercial airplane customers. Discretionary contributions to our pension plans totaled $0.8 billion in 2014 compared with $1.5 billion in 2013 and $1.6 billion in 2012.

Investing Activities Cash provided by investing activities was $2.5 billion during 2014 compared with $5.2 billion used during 2013 and $3.8 billion used during 2012, largely due to changes in investments in time deposits. Net proceeds from investments were $4.8 billion in 2014 compared with net contributions to investments of $2.9 billion in 2013 and $2 billion in 2012. In 2014, capital expenditures totaled $2.2 billion, up from $2.1 billion in 2013 and $1.7 billion in 2012. We expect capital expenditures to be higher in 2015 than 2014 due to continued investment to support growth.

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Financing Activities Cash used by financing activities was $8.6 billion during 2014, an increase of $4.3 billion compared with 2013 primarily due to higher share repurchases of $3.2 billion, higher dividends paid of $0.6 billion and a decrease in proceeds from stock options exercised of $0.8 billion in 2014, partially offset by higher new borrowings of $0.4 billion in 2014. Cash used by financing activities was $4.2 billion during 2013, an increase of $0.8 billion compared with 2012 primarily due to share repurchases of $2.8 billion in 2013 partially offset by higher new borrowings of $0.5 billion, lower debt repayments of $0.6 billion and an increase in stock options exercised of $1.0 billion in 2013.

During 2014, we issued unsecured debt totaling $0.8 billion, of which $0.5 billion was used to fund the BCC segment, and we repaid $1.4 billion of unsecured debt, including repayments of $0.7 billion of debt held at BCC. At December 31, 2014 and 2013 the recorded balance of debt was $9.1 billion and $9.6 billion of which $0.9 billion and $1.6 billion was classified as short-term. This includes $2.4 billion and $2.6 billion of debt attributable to BCC, of which $0.1 billion and $0.7 billion was classified as short-term at December 31, 2014 and 2013.

During 2014 and 2013 we repurchased 46.6 million and 25.4 million shares totaling $6.0 billion and $2.8 billion through our open market share repurchase program. In 2014 and 2013, we had 0.7 million and 0.8 million shares transferred to us from employees for tax withholdings. At December 31, 2014, the amount available under the share repurchase plan, announced on December 15, 2014, totaled $12 billion.

Capital Resources We have substantial borrowing capacity. Any future borrowings may affect our credit ratings and are subject to various debt covenants as described below. We have a commercial paper program that continues to serve as a significant potential source of short-term liquidity. Throughout 2014 and at December 31, 2014, we had no commercial paper borrowings outstanding. Currently, we have $5.0 billion of unused borrowing capacity on revolving credit line agreements. We anticipate that these credit lines will primarily serve as backup liquidity to support our general corporate borrowing needs.

Financing commitments totaled $16.7 billion and $18.0 billion at December 31, 2014 and 2013. We anticipate that we will not be required to fund a significant portion of our financing commitments as we continue to work with third party financiers to provide alternative financing to customers. Historically, we have not been required to fund significant amounts of outstanding commitments. However, there can be no assurances that we will not be required to fund greater amounts than historically required.

In the event we require additional funding to support strategic business opportunities, our commercial aircraft financing commitments, unfavorable resolution of litigation or other loss contingencies, or other business requirements, we expect to meet increased funding requirements by issuing commercial paper or term debt. We believe our ability to access external capital resources should be sufficient to satisfy existing short-term and long-term commitments and plans, and also to provide adequate financial flexibility to take advantage of potential strategic business opportunities should they arise within the next year. However, there can be no assurance of the cost or availability of future borrowings, if any, under our commercial paper program, in the debt markets or our credit facilities.

At December 31, 2014 and 2013, our pension plans were $17.3 billion and $10.5 billion underfunded as measured under GAAP. The increase in the liability primarily reflects the decrease in the discount rate used from 4.80% at December 31, 2013 to 3.90% at December 31, 2014. See Note 14. On an Employee Retirement Income Security Act (ERISA) basis our plans are more than 100% funded at December 31, 2014 with minimal required contributions in 2015. We do not expect the contributions to our pension and other postretirement benefit plans to be significant in 2015. We may be required to make higher contributions to our pension plans in future years.

At December 31, 2014, we were in compliance with the covenants for our debt and credit facilities. The most restrictive covenants include a limitation on mortgage debt and sale and leaseback transactions as a percentage of consolidated net tangible assets (as defined in the credit agreements), and a limitation

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on consolidated debt as a percentage of total capital (as defined). When considering debt covenants, we continue to have substantial borrowing capacity.

Contractual Obligations

The following table summarizes our known obligations to make future payments pursuant to certain contracts as of December 31, 2014, and the estimated timing thereof.

(Dollars in millions)	Total		Less than 1 year		1-3 years		3-5 years		After 5 years
Long-term debt (including current portion)		$8,950		$870		$1,356		$1,871		$4,853
Interest on debt(1)	5,387		431		800		729		3,427
Pension and other postretirement cash requirements	10,965		477		1,080		1,972		7,436
Capital lease obligations	169		67		73		17		12
Operating lease obligations	1,503		226		386		271		620
Purchase obligations not recorded on the Consolidated Statements of Financial Position	131,549		47,249		37,187		20,505		26,608
Purchase obligations recorded on the Consolidated Statements of Financial Position	16,872		15,959		891		5		17
Total contractual obligations		$175,395		$65,279		$41,773		$25,370		$42,973

⁽¹⁾  Includes interest on variable rate debt calculated based on interest rates at December 31, 2014. Variable rate debt was 3% of our total debt at December 31, 2014.

Pension and Other Postretirement Benefits Pension cash requirements are based on an estimate of our minimum funding requirements, pursuant to ERISA regulations, although we may make additional discretionary contributions. Estimates of other postretirement benefits are based on both our estimated future benefit payments and the estimated contributions to plans that are funded through trusts.

Purchase Obligations Purchase obligations represent contractual agreements to purchase goods or services that are legally binding; specify a fixed, minimum or range of quantities; specify a fixed, minimum, variable, or indexed price provision; and specify approximate timing of the transaction. Purchase obligations include amounts recorded as well as amounts that are not recorded on the Consolidated Statements of Financial Position. Approximately 4% of the purchase obligations disclosed above are reimbursable to us pursuant to cost-type government contracts.

Purchase Obligations Not Recorded on the Consolidated Statements of Financial Position Production related purchase obligations not recorded on the Consolidated Statements of Financial Position include agreements for inventory procurement, tooling costs, electricity and natural gas contracts, property, plant and equipment, and other miscellaneous production related obligations. The most significant obligation relates to inventory procurement contracts. We have entered into certain significant inventory procurement contracts that specify determinable prices and quantities, and long-term delivery timeframes. In addition, we purchase raw materials on behalf of our suppliers. These agreements require suppliers and vendors to be prepared to build and deliver items in sufficient time to meet our production schedules. The need for such arrangements with suppliers and vendors arises from the extended production planning horizon for many of our products. A significant portion of these inventory commitments is supported by firm contracts and/or has historically resulted in settlement through reimbursement from customers for penalty payments to the supplier should the customer not take delivery. These amounts are also included in our forecasts of costs for program and contract accounting. Some inventory procurement contracts may include escalation adjustments. In these limited cases, we have included our best estimate of the effect of the escalation adjustment in the amounts disclosed in the table above.

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Purchase Obligations Recorded on the Consolidated Statements of Financial Position Purchase obligations recorded on the Consolidated Statements of Financial Position primarily include accounts payable and certain other current and long-term liabilities including accrued compensation.

Industrial Participation Agreements We have entered into various industrial participation agreements with certain customers outside of the U.S. to facilitate economic flow back and/or technology transfer to their businesses or government agencies as the result of their procurement of goods and/or services from us. These commitments may be satisfied by our placement of direct work or vendor orders for supplies, opportunities to bid on supply contracts, transfer of technology or other forms of assistance. However, in certain cases, our commitments may be satisfied through other parties (such as our vendors) who purchase supplies from our non-U.S. customers. We do not commit to industrial participation agreements unless a contract for sale of our products or services is signed. In certain cases, penalties could be imposed if we do not meet our industrial participation commitments. During 2014, we incurred no such penalties. As of December 31, 2014, we have outstanding industrial participation agreements totaling $17.8 billion that extend through 2030. Purchase order commitments associated with industrial participation agreements are included in purchase obligations in the table above. To be eligible for such a purchase order commitment from us, a foreign supplier must have sufficient capability to meet our requirements and must be competitive in cost, quality and schedule.

Income Tax Obligations As of December 31, 2014, our net liability for income taxes payable, including uncertain tax positions, was $406 million. We are not able to reasonably estimate the timing of future cash flows related to uncertain tax positions. Our income tax matters are excluded from the table above. See Note 4 to our Consolidated Financial Statements.

Commercial Commitments

The following table summarizes our commercial commitments outstanding as of December 31, 2014.

(Dollars in millions)	Total Amounts Committed/Maximum Amount of Loss		Less than 1 year		1-3 years		4-5 years		After 5 years
Standby letters of credit and surety bonds		$3,985		$2,277		$1,658		$1		$49
Commercial aircraft financing commitments	16,723		2,552		7,207		4,043		2,921
Total commercial commitments		$20,708		$4,829		$8,865		$4,044		$2,970

Commercial aircraft financing commitments include commitments to provide financing related to aircraft on order, under option for deliveries or proposed as part of sales campaigns based on estimated earliest potential funding dates. Based on historical experience, we anticipate that we will not be required to fund a significant portion of our financing commitments. However, there can be no assurances that we will not be required to fund greater amounts than historically required. See Note 11 to our Consolidated Financial Statements.

Contingent Obligations

We have significant contingent obligations that arise in the ordinary course of business, which include the following:

Legal Various legal proceedings, claims and investigations are pending against us. Legal contingencies are discussed in Note 20 to our Consolidated Financial Statements.

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Environmental Remediation We are involved with various environmental remediation activities and have recorded a liability of $601 million at December 31, 2014. For additional information, see Note 11 to our Consolidated Financial Statements.

Income Taxes We have $1,312 million of unrecognized tax benefits at December 31, 2014 for uncertain tax positions. For further discussion of income taxes, see Note 4 to our Consolidated Financial Statements.

Off-Balance Sheet Arrangements

We are a party to certain off-balance sheet arrangements including certain guarantees. For discussion of these arrangements, see Note 12 to our Consolidated Financial Statements.

Non-GAAP Measures

Core Operating Earnings, Core Operating Margin and Core Earnings Per Share

Our Consolidated Financial Statements are prepared in accordance with accounting principles generally accepted in the United States (GAAP) which we supplement with certain non-GAAP financial information. These non-GAAP measures should not be considered in isolation or as a substitute for the related GAAP measures, and other companies may define such measures differently. We encourage investors to review our financial statements and publicly-filed reports in their entirety and not to rely on any single financial measure. Core operating earnings, core operating margin and core earnings per share exclude the impact of unallocated pension and other postretirement benefit expenses which represent costs not attributable to business segments - see Note 21 to our Consolidated Financial Statements. Management uses core operating earnings, core operating margin and core earnings per share for purposes of evaluating and forecasting underlying business performance. Management believes these core earnings measures provide investors additional insights into operational performance as unallocated pension and other postretirement benefit cost primarily represent costs driven by market factors and costs not allocable to U.S. government contracts.

Reconciliation of GAAP Measures to Non-GAAP Measures

The table below reconciles the non-GAAP financial measures of core operating earnings, core operating margin and core earnings per share with the most directly comparable GAAP financial measures of earnings from operations, operating margins and diluted earnings per share.

(Dollars in millions, except per share data)
Years ended December 31,	2014			2013			2012
Revenues		$90,762			$86,623			$81,698
Earnings from operations, as reported		$7,473			$6,562			$6,290
Operating margins	8.2		%	7.6		%	7.7		%
Unallocated pension and other postretirement benefit expense		$1,387			$1,314			$899
Core operating earnings (non-GAAP)		$8,860			$7,876			$7,189
Core operating margins (non-GAAP)	9.8		%	9.1		%	8.8		%
Diluted earnings per share, as reported		$7.38			$5.96			$5.11
Unallocated pension and other postretirement benefit expense(1)		$1.22			$1.11			$0.77
Core earnings per share (non-GAAP)		$8.60			$7.07			$5.88
Weighted average diluted shares (in millions)	738.0			769.5			763.8

⁽¹⁾ Earnings per share impact is presented net of the federal statutory rate of 35.0%.

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Other

Section 219 of the Iran Threat Reduction and Syria Human Rights Act of 2012 and Section 13(r) of the Securities Exchange Act of 1934, as amended (the “Act”), require disclosure of certain activities, transactions or dealings relating to Iran that occurred during the period covered by this report. Disclosure is required even if the activities, transactions or dealings were conducted in compliance with applicable law. We have disclosed such activities in our Form 10-Q reports for the second and third quarter of 2014 and those disclosures are incorporated herein by reference. During the fourth quarter of 2014, we sold aeronautical navigation charts and data services to Iran Air. These sales were authorized by a license from the U.S. Office of Foreign Assets Control (“OFAC”). Boeing applied for the OFAC license consistent with guidance from the U.S. government in connection with ongoing negotiations between the “P5+1” nations and Iran related to, among other things, the safety of Iran’s civil aviation industry. We generated approximately $190 thousand in gross revenues and $15 thousand net profits during the fourth quarter of 2014 from these sales. We may engage in additional sales pursuant to this license, which sales may require additional disclosure pursuant to Section 13(r) of the Act.

Critical Accounting Policies

Contract Accounting

Contract accounting is used to determine revenue, cost of sales, and profit predominantly by our BDS business. Contract accounting involves a judgmental process of estimating the total sales and costs for each contract, which results in the development of estimated cost of sales percentages. For each contract, the amount reported as cost of sales is determined by applying the estimated cost of sales percentage to the amount of revenue recognized.

Due to the size, duration and nature of many of our contracts, the estimation of total sales and costs through completion is complicated and subject to many variables. Total contract sales estimates are based on negotiated contract prices and quantities, modified by our assumptions regarding contract options, change orders, incentive and award provisions associated with technical performance, and price adjustment clauses (such as inflation or index-based clauses). The majority of these contracts are with the U.S. government where the price is generally based on estimated cost to produce the product or service plus profit. Federal Acquisition Regulations provide guidance on the types of cost that will be reimbursed in establishing contract price. Total contract cost estimates are largely based on negotiated or estimated purchase contract terms, historical performance trends, business base and other economic projections. Factors that influence these estimates include inflationary trends, technical and schedule risk, internal and subcontractor performance trends, business volume assumptions, asset utilization, and anticipated labor agreements.

Revenue and cost estimates for all significant contracts are reviewed and reassessed quarterly. Changes in these estimates could result in recognition of cumulative catch-up adjustments to the contract’s inception to date revenues, cost of sales and profit, in the period in which such changes are made. Changes in revenue and cost estimates could also result in a reach-forward loss or an adjustment to a reach-forward loss, which would be recorded immediately in earnings. For the years ending December 31, 2014, 2013 and 2012 net favorable cumulative catch-up adjustments, including reach-forward losses, across all contracts increased Earnings from operations by $100 million, $242 million and $379 million, respectively.

Due to the significance of judgment in the estimation process described above, it is likely that materially different cost of sales amounts could be recorded if we used different assumptions or if the underlying circumstances were to change. Changes in underlying assumptions/estimates, supplier performance, or circumstances may adversely or positively affect financial performance in future periods. If the combined gross margin for all contracts in BDS for all of 2014 had been estimated to be higher or lower by 1%, it would have increased or decreased pre-tax income for the year by approximately $309 million. In addition,

43

a number of our fixed price development contracts are in a reach-forward loss position. Changes to estimated losses are recorded immediately in earnings.

Program Accounting

Program accounting requires the demonstrated ability to reliably estimate the relationship of sales to costs for the defined program accounting quantity. A program consists of the estimated number of units (accounting quantity) of a product to be produced in a continuing, long-term production effort for delivery under existing and anticipated contracts. The determination of the accounting quantity is limited by the ability to make reasonably dependable estimates of the revenue and cost of existing and anticipated contracts. For each program, the amount reported as cost of sales is determined by applying the estimated cost of sales percentage for the total remaining program to the amount of sales recognized for airplanes delivered and accepted by the customer.

Factors that must be estimated include program accounting quantity, sales price, labor and employee benefit costs, material costs, procured part costs, major component costs, overhead costs, program tooling and other non-recurring costs, and warranty costs. Estimation of the accounting quantity for each program takes into account several factors that are indicative of the demand for the particular program, such as firm orders, letters of intent from prospective customers, and market studies. Total estimated program sales are determined by estimating the model mix and sales price for all unsold units within the accounting quantity, added together with the sales prices for all undelivered units under contract. The sales prices for all undelivered units within the accounting quantity include an escalation adjustment for inflation that is updated quarterly. Cost estimates are based largely on negotiated and anticipated contracts with suppliers, historical performance trends, and business base and other economic projections. Factors that influence these estimates include production rates, internal and subcontractor performance trends, customer and/or supplier claims or assertions, asset utilization, anticipated labor agreements, and inflationary or deflationary trends.

To ensure reliability in our estimates, we employ a rigorous estimating process that is reviewed and updated on a quarterly basis. Changes in estimates are normally recognized on a prospective basis; when estimated costs to complete a program exceed estimated revenues from undelivered units in the accounting quantity, a loss provision is recorded in the current period for the estimated loss on all undelivered units in the accounting quantity.

The program method of accounting allocates tooling and other non-recurring and production costs over the accounting quantity for each program. Because of the higher unit production costs experienced at the beginning of a new program and substantial investment required for initial tooling and other non-recurring costs, new commercial aircraft programs, such as the 787 program, typically have lower initial margins than established programs.

Due to the significance of judgment in the estimation process described above, it is likely that materially different cost of sales amounts could be recorded if we used different assumptions, or if the underlying circumstances were to change. Changes in underlying assumptions/estimates, supplier performance, or other circumstances may adversely or positively affect financial performance in future periods. If combined cost of sales percentages for commercial airplane programs for all of 2014 had been estimated to be lower by 1%, it would have increased pre-tax income for the year by approximately $520 million. If the combined cost of sales percentages for commercial airplane programs for all of 2014 (excluding the 747 and 787 programs which had gross margins that were breakeven or near breakeven during 2014) had been estimated to be higher by 1%, it would have decreased pre-tax income for the year by approximately $360 million. If we are unable to mitigate risks associated with the 747 and 787 programs, or if we are required to change one or more of our pricing, cost or other assumptions related to these programs, we could be required to record reach-forward losses which could have a material effect on our reported results.

44

Goodwill and Indefinite-Lived Intangible Impairments

We test goodwill for impairment by performing a qualitative assessment or using a two-step impairment process. If we choose to perform a qualitative assessment, we evaluate economic, industry and company-specific factors as an initial step in assessing the fair value of operations. If we determine it is more likely than not that the carrying value of the net assets is more than the fair value of the related operations, the two-step impairment process is then performed; otherwise, no further testing is required. For operations where the two-step impairment process is used, we first compare the book value of net assets to the fair value of the related operations. If the fair value is determined to be less than book value, a second step is performed to compute the amount of the impairment. In this process, a fair value for goodwill is estimated, based in part on the fair value of the operations, and is compared to its carrying value. The shortfall of the fair value below carrying value represents the amount of goodwill impairment.

We estimate the fair values of the related operations using discounted cash flows. Forecasts of future cash flows are based on our best estimate of future sales and operating costs, based primarily on existing firm orders, expected future orders, contracts with suppliers, labor agreements and general market conditions. Changes in these forecasts could significantly change the amount of impairment recorded, if any.

The cash flow forecasts are adjusted by an appropriate discount rate derived from our market capitalization plus a suitable control premium at the date of evaluation. Therefore, changes in the stock price may also affect the amount of impairment recorded, if any.

We completed our assessment of goodwill as of April 1, 2014 and determined that there is no impairment of goodwill. As of December 31, 2014, we estimated that the fair value of each reporting unit significantly exceeded its corresponding carrying value. Changes in our forecasts, or decreases in the value of our common stock could cause book values of certain operations to exceed their fair values which may result in goodwill impairment charges in future periods.

As of December 31, 2014 and 2013, we had $490 million and $497 million of indefinite-lived intangible assets related to the Jeppesen and Aviall brand and trade names acquired in business combinations. We test these intangibles for impairment by comparing their carrying value to current projections of discounted cash flows attributable to the brand and trade names. Any excess carrying value over the amount of discounted cash flows represents the amount of the impairment. A 10% decrease in the discounted cash flows would not impact the carrying value of these indefinite-lived intangible assets.

Pension Plans

The majority of our employees are earning benefits under defined benefit pension plans through 2016. In 2014, we announced changes to our retirement plans whereby nonunion and the majority of union employees currently participating in defined benefit pension plans will transition in 2016 to a company-funded defined contribution retirement savings plan. Accounting rules require an annual measurement of our projected obligation and plan assets. These measurements are based upon several assumptions, including the discount rate and the expected long-term rate of asset return. Future changes in assumptions or differences between actual and expected outcomes can significantly affect our future annual expense, projected benefit obligation and Shareholders’ equity.

45

The following table shows the sensitivity of our pension plan liability and net periodic cost to a 25 basis point change in the discount rate as of December 31, 2014.

(Dollars in millions)	Change in discount rate Increase 25 bps			Change in discount rate Decrease 25 bps
Pension plans
Projected benefit obligation		($2,449	)		$3,068
Net periodic pension cost	(266		)	329

Pension expense is also sensitive to changes in the expected long-term rate of asset return. A decrease or increase of 25 basis points in the expected long-term rate of asset return would have increased or decreased 2014 net periodic pension expense by $141 million. We expect 2015 net periodic pension cost to increase by approximately $367 million and the portion recognized in earnings to decrease by approximately $1,084 million primarily due to amortization of actuarial losses.

Item 7A. Quantitative and Qualitative Disclosures About Market Risk

Interest Rate Risk

We have financial instruments that are subject to interest rate risk, principally fixed-rate debt obligations, and customer financing assets and liabilities. Additionally, BCC uses interest rate swaps with certain debt obligations to manage exposure to interest rate changes. Historically, we have not experienced material gains or losses on our customer financing assets and liabilities due to interest rate changes. As of December 31, 2014, the impact over the next 12 months of a 100 basis point rise in interest rates to our pre-tax earnings would not be significant. The investors in our fixed-rate debt obligations do not generally have the right to demand we pay off these obligations prior to maturity. Therefore, exposure to interest rate risk is not believed to be material for our fixed-rate debt.

Foreign Currency Exchange Rate Risk

We are subject to foreign currency exchange rate risk relating to receipts from customers and payments to suppliers in foreign currencies. We use foreign currency forward contracts to hedge the price risk associated with firmly committed and forecasted foreign denominated payments and receipts related to our ongoing business. Foreign currency forward contracts are sensitive to changes in foreign currency exchange rates. At December 31, 2014, a 10% increase or decrease in the exchange rate in our portfolio of foreign currency contracts would have increased or decreased our unrealized losses by $237 million. Consistent with the use of these contracts to neutralize the effect of exchange rate fluctuations, such unrealized losses or gains would be offset by corresponding gains or losses, respectively, in the remeasurement of the underlying transactions being hedged. When taken together, these forward currency contracts and the offsetting underlying commitments do not create material market risk.

46

Item 8. Financial Statements and Supplementary Data

Index to the Consolidated Financial Statements

	Page
Consolidated Statements of Operations	48
Consolidated Statements of Comprehensive Income	49
Consolidated Statements of Financial Position	50
Consolidated Statements of Cash Flows	51
Consolidated Statements of Equity	52
Summary of Business Segment Data	53
Note 1 – Summary of Significant Accounting Policies	54
Note 2 - Goodwill and Acquired Intangibles	65
Note 3 - Earnings Per Share	66
Note 4 - Income Taxes	67
Note 5 - Accounts Receivable	70
Note 6 - Inventories	71
Note 7 - Customer Financing	72
Note 8 - Property, Plant and Equipment	74
Note 9 - Investments	75
Note 10 - Other Assets	76
Note 11 - Liabilities, Commitments and Contingencies	76
Note 12 - Arrangements with Off-Balance Sheet Risk	81
Note 13 - Debt	83
Note 14 - Postretirement Plans	85
Note 15 - Share-Based Compensation and Other Compensation Arrangements	94
Note 16 - Shareholders’ Equity	97
Note 17 - Derivative Financial Instruments	99
Note 18 - Significant Group Concentrations of Risk	100
Note 19 - Fair Value Measurements	101
Note 20 - Legal Proceedings	103
Note 21 - Segment Information	104
Note 22 - Quarterly Financial Data	108
Reports of Independent Registered Public Accounting Firm	109

47

The Boeing Company and Subsidiaries

Consolidated Statements of Operations

(Dollars in millions, except per share data)
Years ended December 31,	2014			2013			2012
Sales of products		$80,688			$76,792			$71,234
Sales of services	10,074			9,831			10,464
Total revenues	90,762			86,623			81,698
Cost of products	(68,551		)	(65,640		)	(60,309		)
Cost of services	(8,132		)	(7,553		)	(8,247		)
Boeing Capital interest expense	(69		)	(75		)	(109		)
Total costs and expenses	(76,752		)	(73,268		)	(68,665		)
	14,010			13,355			13,033
Income from operating investments, net	287			214			268
General and administrative expense	(3,767		)	(3,956		)	(3,717		)
Research and development expense, net	(3,047		)	(3,071		)	(3,298		)
(Loss)/gain on dispositions, net	(10		)	20			4
Earnings from operations	7,473			6,562			6,290
Other (loss)/income, net	(3		)	56			62
Interest and debt expense	(333		)	(386		)	(442		)
Earnings before income taxes	7,137			6,232			5,910
Income tax expense	(1,691		)	(1,646		)	(2,007		)
Net earnings from continuing operations	5,446			4,586			3,903
Net loss on disposal of discontinued operations, net of taxes of $0, $0, and $2				(1		)	(3		)
Net earnings		$5,446			$4,585			$3,900
Basic earnings per share from continuing operations		$7.47			$6.03			$5.15
Net loss on disposal of discontinued operations, net of taxes
Basic earnings per share		$7.47			$6.03			$5.15
Diluted earnings per share from continuing operations		$7.38			$5.96			$5.11
Net loss on disposal of discontinued operations, net of taxes
Diluted earnings per share		$7.38			$5.96			$5.11

See Notes to the Consolidated Financial Statements on pages 53 – 108.

48

The Boeing Company and Subsidiaries

Consolidated Statements of Comprehensive Income

(Dollars in millions)
Years ended December 31,	2014			2013			2012
Net earnings		$5,446			$4,585			$3,900
Other comprehensive income/(loss), net of tax:
Currency translation adjustments	(97		)	(64		)	17
Unrealized (loss)/gain on derivative instruments:
Unrealized (loss)/gain arising during period, net of tax of $77, $42, and ($13)	(137		)	(75		)	25
Reclassification adjustment for loss/(gain) included in net earnings, net of tax of ($4), $9, and $3	7			(17		)	(5		)
Total unrealized (loss)/gain on derivative instruments, net of tax	(130		)	(92		)	20
Defined benefit pension plans & other postretirement benefits:
Net actuarial (loss)/gain arising during the period, net of tax of $2,588, ($3,437), and $1,382	(4,612		)	6,143			(2,401		)
Amortization of actuarial losses included in net periodic pension cost, net of tax of ($367), ($849), and ($752)	661			1,516			1,304
Settlements and curtailments included in net income, net of tax of ($101), ($33), and ($9)	180			59			15
Pension and postretirement (cost)/benefit related to our equity method investments, net of tax $15, ($13), and ($74)	(27		)	24			127
Amortization of prior service cost included in net periodic pension cost, net of tax of ($12), ($6), and ($10)	21			10			18
Prior service cost arising during the period, net of tax of $3, $41, and $9	(5		)	(74		)	(16		)
Total defined benefit pension plans & other postretirement benefits, net of tax	(3,782		)	7,678			(953		)
Other comprehensive (loss)/income, net of tax	(4,009		)	7,522			(916		)
Comprehensive income related to noncontrolling interests	10			9			3
Comprehensive income, net of tax		$1,447			$12,116			$2,987

See Notes to the Consolidated Financial Statements on pages 53–108.

49

The Boeing Company and Subsidiaries

Consolidated Statements of Financial Position

(Dollars in millions, except per share data)
December 31,	2014			2013
Assets
Cash and cash equivalents		$11,733			$9,088
Short-term and other investments	1,359			6,170
Accounts receivable, net	7,729			6,546
Current portion of customer financing, net	190			344
Deferred income taxes	18			14
Inventories, net of advances and progress billings	46,756			42,912
Total current assets	67,785			65,074
Customer financing, net	3,371			3,627
Property, plant and equipment, net	11,007			10,224
Goodwill	5,119			5,043
Acquired intangible assets, net	2,869			3,052
Deferred income taxes	6,576			2,939
Investments	1,154			1,204
Other assets, net of accumulated amortization of $479 and $448	1,317			1,500
Total assets		$99,198			$92,663
Liabilities and equity
Accounts payable		$10,667			$9,498
Accrued liabilities	13,343			14,131
Advances and billings in excess of related costs	23,175			20,027
Deferred income taxes and income taxes payable	8,603			6,267
Short-term debt and current portion of long-term debt	929			1,563
Total current liabilities	56,717			51,486
Accrued retiree health care	6,802			6,528
Accrued pension plan liability, net	17,182			10,474
Non-current income taxes payable	358			156
Other long-term liabilities	1,208			950
Long-term debt	8,141			8,072
Shareholders’ equity:
Common stock, par value $5.00 – 1,200,000,000 shares authorized; 1,012,261,159 shares issued	5,061			5,061
Additional paid-in capital	4,625			4,415
Treasury stock, at cost	(23,298		)	(17,671		)
Retained earnings	36,180			32,964
Accumulated other comprehensive loss	(13,903		)	(9,894		)
Total shareholders’ equity	8,665			14,875
Noncontrolling interests	125			122
Total equity	8,790			14,997
Total liabilities and equity		$99,198			$92,663

See Notes to the Consolidated Financial Statements on pages 53 – 108.

50

The Boeing Company and Subsidiaries

Consolidated Statements of Cash Flows

(Dollars in millions)
Years ended December 31,	2014			2013			2012
Cash flows – operating activities:
Net earnings		$5,446			$4,585			$3,900
Adjustments to reconcile net earnings to net cash provided by operating activities:
Non-cash items –
Share-based plans expense	195			206			193
Depreciation and amortization	1,906			1,844			1,811
Investment/asset impairment charges, net	229			96			84
Customer financing valuation benefit	(28		)	(11		)	(10		)
Loss on disposal of discontinued operations				1			5
Loss/(gain) on dispositions, net	10			(20		)	(4		)
Other charges and credits, net	317			528			694
Excess tax benefits from share-based payment arrangements	(114		)	(128		)	(45		)
Changes in assets and liabilities –
Accounts receivable	(1,328		)	(879		)	(27		)
Inventories, net of advances and progress billings	(4,330		)	(5,562		)	(5,681		)
Accounts payable	1,339			(298		)	1,199
Accrued liabilities	(1,088		)	883			801
Advances and billings in excess of related costs	3,145			3,353			1,177
Income taxes receivable, payable and deferred	1,325			1,445			1,605
Other long-term liabilities	36			2			157
Pension and other postretirement plans	1,186			1,720			1,288
Customer financing, net	578			391			407
Other	34			23			(46		)
Net cash provided by operating activities	8,858			8,179			7,508
Cash flows – investing activities:
Property, plant and equipment additions	(2,236		)	(2,098		)	(1,703		)
Property, plant and equipment reductions	34			51			97
Acquisitions, net of cash acquired	(163		)	(26		)	(124		)
Contributions to investments	(8,617		)	(15,394		)	(12,921		)
Proceeds from investments	13,416			12,453			10,901
Purchase of distribution rights				(140		)	(7		)
Other	33
Net cash provided/(used) by investing activities	2,467			(5,154		)	(3,757		)
Cash flows – financing activities:
New borrowings	962			571			60
Debt repayments	(1,601		)	(1,434		)	(2,076		)
Payments to noncontrolling interest	(12		)
Repayments of distribution rights and other asset financing	(185		)	(280		)	(228		)
Stock options exercised	343			1,097			120
Excess tax benefits from share-based payment arrangements	114			128			45
Employee taxes on certain share-based payment arrangements	(98		)	(63		)	(76		)
Common shares repurchased	(6,001		)	(2,801		)
Dividends paid	(2,115		)	(1,467		)	(1,322		)
Net cash used by financing activities	(8,593		)	(4,249		)	(3,477		)
Effect of exchange rate changes on cash and cash equivalents	(87		)	(29		)	18
Net increase/(decrease) in cash and cash equivalents	2,645			(1,253		)	292
Cash and cash equivalents at beginning of year	9,088			10,341			10,049
Cash and cash equivalents at end of year		$11,733			$9,088			$10,341

See Notes to the Consolidated Financial Statements on pages 53 –108.

51

The Boeing Company and Subsidiaries

Consolidated Statements of Equity

	Boeing shareholders
(Dollars in millions, except per share data)	Common Stock		Additional Paid-In Capital			Treasury Stock			Retained Earnings			Accumulated Other Comprehensive Loss			Non- controlling Interest			Total
Balance at January 1, 2012	$5,061			$4,033			($16,603	)		$27,524			($16,500	)		$93			$3,608
Net earnings									3,900						3			3,903
Other comprehensive loss, net of tax of $536												(916		)				(916		)
Share-based compensation and related dividend equivalents			215						(27		)							188
Excess tax pools			45															45
Treasury shares issued for stock options exercised, net			(54		)	174												120
Treasury shares issued for other share-based plans, net			(183		)	116												(67		)
Treasury shares issued for 401(k) contribution			66			376												442
Cash dividends declared ($1.805 per share)									(1,360		)							(1,360		)
Changes in noncontrolling interests															4			4
Balance at December 31, 2012		$5,061	$4,122			($15,937)				$30,037			($17,416	)		$100			$5,967
Net earnings									4,585						9			4,594
Other comprehensive income, net of tax of ($4,246)												7,522						7,522
Share-based compensation and related dividend equivalents			216						(16		)							200
Excess tax pools			101															101
Treasury shares issued for stock options exercised, net			109			988												1,097
Treasury shares issued for other share-based plans, net			(133		)	79												(54		)
Common shares repurchased						(2,801		)										(2,801		)
Cash dividends declared ($2.185 per share)									(1,642		)							(1,642		)
Changes in noncontrolling interests															13			13
Balance at December 31, 2013		$5,061		$4,415		($17,671)				$32,964			($9,894	)		$122			$14,997
Net earnings									5,446						10			5,456
Other comprehensive loss, net of tax of $2,199												(4,009		)				(4,009		)
Share-based compensation and related dividend equivalents			208						(20		)							188
Excess tax pools			114															114
Treasury shares issued for stock options exercised, net			17			326												343
Treasury shares issued for other share-based plans, net			(129		)	48												(81		)
Common shares repurchased						(6,001		)										(6,001		)
Cash dividends declared ($3.10 per share)									(2,210		)							(2,210		)
Changes in noncontrolling interests															(7		)	(7		)
Balance at December 31, 2014		$5,061		$4,625			($23,298	)		$36,180			($13,903	)		$125			$8,790

See Notes to the Consolidated Financial Statements on pages 53 – 108.

52

The Boeing Company and Subsidiaries

Notes to the Consolidated Financial Statements

Summary of Business Segment Data

(Dollars in millions)
Years ended December 31,	2014			2013			2012
Revenues:
Commercial Airplanes		$59,990			$52,981			$49,127
Defense, Space & Security:
Boeing Military Aircraft	13,511			15,285			15,388
Network & Space Systems	8,003			8,512			7,911
Global Services & Support	9,367			9,400			9,308
Total Defense, Space & Security	30,881			33,197			32,607
Boeing Capital	416			408			468
Unallocated items, eliminations and other	(525		)	37			(504		)
Total revenues		$90,762			$86,623			$81,698
Earnings from operations:
Commercial Airplanes		$6,411			$5,795			$4,711
Defense, Space & Security:
Boeing Military Aircraft	1,304			1,504			1,487
Network & Space Systems	698			719			562
Global Services & Support	1,131			1,012			1,019
Total Defense, Space & Security	3,133			3,235			3,068
Boeing Capital	92			107			88
Unallocated items, eliminations and other	(2,163		)	(2,575		)	(1,577		)
Earnings from operations		$7,473			$6,562			$6,290
Other (loss)/income, net	(3		)	56			62
Interest and debt expense	(333		)	(386		)	(442		)
Earnings before income taxes	7,137			6,232			5,910
Income tax expense	(1,691		)	(1,646		)	(2,007		)
Net earnings from continuing operations	5,446			4,586			3,903
Net loss on disposal of discontinued operations, net of taxes of $0, $0, $2				(1		)	(3		)
Net earnings		$5,446			$4,585			$3,900

This information is an integral part of the Notes to the Consolidated Financial Statements. See Note 21 for further segment results.

53

The Boeing Company and Subsidiaries

Notes to the Consolidated Financial Statements

Years ended December 31, 2014, 2013 and 2012

(Dollars in millions, except per share data)

Note 1 – Summary of Significant Accounting Policies

Principles of Consolidation and Basis of Presentation

The Consolidated Financial Statements included in this report have been prepared by management of The Boeing Company (herein referred to as “Boeing,” the “Company,” “we,” “us,” or “our”). These statements include the accounts of all majority-owned subsidiaries and variable interest entities that are required to be consolidated. All significant intercompany accounts and transactions have been eliminated. Segment data for all years have been adjusted to reflect a realignment of certain programs from the Boeing Military Aircraft (BMA) segment to the Global Services & Support (GS&S) segment and the combination of Other segment with Unallocated items and eliminations. See Note 21.

Standards Issued and Not Yet Implemented

In May 2014, the Financial Accounting Standards Board issued Accounting Standards Update No. 2014-09, Revenue from Contracts with Customers. The new standard is effective for reporting periods beginning after December 15, 2016 and early adoption is not permitted. The comprehensive new standard will supersede existing revenue recognition guidance and require revenue to be recognized when promised goods or services are transferred to customers in amounts that reflect the consideration to which the company expects to be entitled in exchange for those goods or services. Adoption of the new rules could affect the timing of revenue recognition for certain transactions. The guidance permits two implementation approaches, one requiring retrospective application of the new standard with restatement of prior years and one requiring prospective application of the new standard with disclosure of results under old standards. For Boeing the new standard will be effective January 1, 2017 and the Company is currently evaluating the impacts of adoption and the implementation approach to be used.

Use of Estimates

Management makes assumptions and estimates to prepare financial statements in conformity with accounting principles generally accepted in the United States of America. Those assumptions and estimates directly affect the amounts reported in the Consolidated Financial Statements. Significant estimates for which changes in the near term are considered reasonably possible and that may have a material impact on the financial statements are disclosed in these Notes to the Consolidated Financial Statements.

Operating Cycle

For classification of certain current assets and liabilities, we use the duration of the related contract or program as our operating cycle, which is generally longer than one year.

Revenue and Related Cost Recognition

Contract Accounting Contract accounting is used for development and production activities predominantly by Defense, Space & Security (BDS). The majority of business conducted by BDS is performed under contracts with the U.S. government and other customers that extend over several years. Contract accounting involves a judgmental process of estimating total sales and costs for each contract resulting in the development of estimated cost of sales percentages. For each contract, the amount reported as cost of sales is determined by applying the estimated cost of sales percentage to the amount of revenue

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recognized. When the current estimates of total sales and costs for a contract indicate a loss, a provision for the entire loss on the contract is recognized.

Changes in estimated revenues, cost of sales and the related effect on operating income are recognized using a cumulative catch-up adjustment which recognizes in the current period the cumulative effect of the changes on current and prior periods based on a contract’s percent complete. In 2014, 2013 and 2012 net favorable cumulative catch-up adjustments, including reach-forward losses, across all contracts increased Earnings from operations by $100, $242 and $379, respectively and diluted EPS by $0.10, $0.23 and $0.33, respectively. Significant adjustments during the three years ended December 31, 2014 included a reach-forward loss of $425 on the USAF KC-46A Tanker contract recorded during 2014.

We combine contracts for accounting purposes when they are negotiated as a package with an overall profit margin objective. These essentially represent an agreement to do a single project for a single customer, involve interrelated construction activities with substantial common costs, and are performed concurrently or sequentially. When a group of contracts is combined, revenue and profit are earned uniformly over the performance of the combined contracts. Similarly, we may segment a single contract or group of contracts when a clear economic decision has been made during contract negotiations that would produce different rates of profitability for each element or phase of the contract.

Sales related to fixed-price contracts are recognized as deliveries are made, except for certain fixed-price contracts that require substantial performance over an extended period before deliveries begin, for which sales are recorded based on the attainment of performance milestones. Sales related to contracts in which we are reimbursed for costs incurred plus an agreed upon profit are recorded as costs are incurred. The Federal Acquisition Regulations provide guidance on the types of cost that will be reimbursed in establishing contract price. Contracts may contain provisions to earn incentive and award fees if specified targets are achieved. Incentive and award fees that can be reasonably estimated and are probable are recorded over the performance period of the contract. Incentive and award fees that cannot be reasonably estimated are recorded when awarded.

Program Accounting Our Commercial Airplanes segment predominantly uses program accounting to account for cost of sales related to its programs. Program accounting is applicable to products manufactured for delivery under production-type contracts where profitability is realized over multiple contracts and years. Under program accounting, inventoriable production costs, program tooling and other non-recurring costs, and warranty costs are accumulated and charged to cost of sales by program instead of by individual units or contracts. A program consists of the estimated number of units (accounting quantity) of a product to be produced in a continuing, long-term production effort for delivery under existing and anticipated contracts. The determination of the accounting quantity is limited by the ability to make reasonably dependable estimates of the revenue and cost of existing and anticipated contracts. To establish the relationship of sales to cost of sales, program accounting requires estimates of (a) the number of units to be produced and sold in a program, (b) the period over which the units can reasonably be expected to be produced, and (c) the units’ expected sales prices, production costs, program tooling and other non-recurring costs, and routine warranty costs for the total program.

We recognize sales for commercial airplane deliveries as each unit is completed and accepted by the customer. Sales recognized represent the price negotiated with the customer, adjusted by an escalation formula as specified in the customer agreement. The amount reported as cost of sales is determined by applying the estimated cost of sales percentage for the total remaining program to the amount of sales recognized for airplanes delivered and accepted by the customer. Changes in estimated revenues, cost of sales and the related effects on program margins are recognized prospectively except in cases where the program is determined to have a reach-forward loss in which case the loss is recognized in the current period. See Note 11.

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Concession Sharing Arrangements We account for sales concessions to our customers in consideration of their purchase of products and services as a reduction to revenue when the related products and services are delivered. The sales concessions incurred may be partially reimbursed by certain suppliers in accordance with concession sharing arrangements. We record these reimbursements, which are presumed to represent reductions in the price of the vendor’s products or services, as a reduction in Cost of products.

Spare Parts Revenue We recognize sales of spare parts upon delivery and the amount reported as cost of sales is recorded at average cost.

Service Revenue Service revenue is recognized when the service is performed with the exception of U.S. government service agreements, which are accounted for using contract accounting. Service activities primarily include: support agreements associated with military aircraft and helicopter contracts, ongoing maintenance of International Space Station, and technical and flight operation services for commercial aircraft. Service revenue and associated cost of sales from pay-in-advance subscription fees are deferred and recognized as services are rendered.

Financial Services Revenue We record financial services revenue associated with sales-type/finance leases, operating leases, and notes receivable.

Lease and financing revenue arrangements are included in Sales of services on the Consolidated Statements of Operations. For sales-type/finance leases, we record an asset at lease inception. This asset is recorded at the aggregate future minimum lease payments, estimated residual value of the leased equipment, and deferred incremental direct costs less unearned income. Income is recognized over the life of the lease to approximate a level rate of return on the net investment. Residual values, which are reviewed periodically, represent the estimated amount we expect to receive at lease termination from the disposition of the leased equipment. Actual residual values realized could differ from these estimates. Declines in estimated residual value that are deemed other-than-temporary are recognized in the period in which the declines occur.

For operating leases, revenue on leased aircraft and equipment is recorded on a straight-line basis over the term of the lease. Operating lease assets, included in Customer financing, are recorded at cost and depreciated over the period that we project we will hold the asset to an estimated residual value, using the straight-line method. We periodically review our estimates of residual value and recognize forecasted changes by prospectively adjusting depreciation expense.

For notes receivable, notes are recorded net of any unamortized discounts and deferred incremental direct costs. Interest income and amortization of any discounts are recorded ratably over the related term of the note.

Reinsurance Revenue Our wholly-owned insurance subsidiary, Astro Ltd., participates in a reinsurance pool for workers’ compensation. The member agreements and practices of the reinsurance pool minimize any participating members’ individual risk. Reinsurance revenues were $135, $160 and $129 during 2014, 2013 and 2012, respectively. Reinsurance costs related to premiums and claims paid to the reinsurance pool were $144, $147 and $128 during 2014, 2013 and 2012, respectively. Revenues and costs are presented net in Cost of sales in the Consolidated Statements of Operations.

Fleet Support

We provide assistance and services to facilitate efficient and safe aircraft operation to the operators of all our commercial airplane models. Collectively known as fleet support services, these activities and services include flight and maintenance training, field service support, engineering services, and technical data and documents. Fleet support activity begins prior to aircraft delivery as the customer receives training, manuals, and technical consulting support. This activity continues throughout the aircraft’s operational life. Services provided after delivery include field service support, consulting on maintenance, repair, and

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operational issues brought forth by the customer or regulators, updating manuals and engineering data, and the issuance of service bulletins that impact the entire model’s fleet. Field service support involves our personnel located at customer facilities providing and coordinating fleet support activities and requests. The costs for fleet support are expensed as incurred as Cost of services.

Research and Development

Research and development includes costs incurred for experimentation, design, and testing, as well as bid and proposal efforts related to government products and services which are expensed as incurred unless the costs are related to certain contractual arrangements with customers. Costs that are incurred pursuant to such contractual arrangements are recorded over the period that revenue is recognized, consistent with our contract accounting policy. We have certain research and development arrangements that meet the requirement for best efforts research and development accounting. Accordingly, the amounts funded by the customer are recognized as an offset to our research and development expense rather than as contract revenues. Research and development expense included bid and proposal costs of $289, $285 and $326 in 2014, 2013 and 2012, respectively.

We have established cost sharing arrangements with some suppliers for the 787 program. Our cost sharing arrangements state that the supplier contributions are for reimbursements of costs we incur for experimentation, basic design, and testing activities during the 787 development. In each arrangement, we retain substantial rights to the 787 part or component covered by the arrangement. The amounts received from these cost sharing arrangements are recorded as a reduction to research and development expenses since we have no obligation to refund any amounts received per the arrangements regardless of the outcome of the development efforts. Specifically, under the terms of each agreement, payments received from suppliers for their share of the costs are typically based on milestones and are recognized as earned when we achieve the milestone events and no ongoing obligation on our part exists. In the event we receive a milestone payment prior to the completion of the milestone, the amount is classified in Accrued liabilities until earned.

Share-Based Compensation

We provide various forms of share-based compensation to our employees. For awards settled in shares, we measure compensation expense based on the grant-date fair value net of estimated forfeitures. For awards settled in cash, or that may be settled in cash, we measure compensation expense based on the fair value at each reporting date net of estimated forfeitures. The expense is recognized over the requisite service period, which is generally the vesting period of the award.

Income Taxes

Provisions for federal, state, and non-U.S. income taxes are calculated on reported Earnings before income taxes based on current tax law and also include, in the current period, the cumulative effect of any changes in tax rates from those used previously in determining deferred tax assets and liabilities. Such provisions differ from the amounts currently receivable or payable because certain items of income and expense are recognized in different time periods for financial reporting purposes than for income tax purposes. Significant judgment is required in determining income tax provisions and evaluating tax positions.

The accounting for uncertainty in income taxes requires a more-likely-than-not threshold for financial statement recognition and measurement of tax positions taken or expected to be taken in a tax return. We record a liability for the difference between the benefit recognized and measured for financial statement purposes and the tax position taken or expected to be taken on our tax return. To the extent that our assessment of such tax positions changes, the change in estimate is recorded in the period in which the

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determination is made. Tax-related interest and penalties are classified as a component of Income tax expense.

Postretirement Plans

The majority of our employees are earning benefits under defined benefit pension plans. In 2014, we announced changes to our retirement plans whereby nonunion and the majority of union employees currently participating in defined benefit pension plans will transition in 2016 to a company-funded defined contribution retirement savings plan. We also provide postretirement benefit plans other than pensions, consisting principally of health care coverage to eligible retirees and qualifying dependents. Benefits under the pension and other postretirement benefit plans are generally based on age at retirement and years of service and, for some pension plans, benefits are also based on the employee’s annual earnings. The net periodic cost of our pension and other postretirement plans is determined using the projected unit credit method and several actuarial assumptions, the most significant of which are the discount rate, the long-term rate of asset return, and medical trend (rate of growth for medical costs). A portion of net periodic pension and other postretirement income or expense is not recognized in net earnings in the year incurred because it is allocated to production as product costs, and reflected in inventory at the end of a reporting period. Actuarial gains and losses, which occur when actual experience differs from actuarial assumptions, are reflected in Shareholders’ equity (net of taxes). If actuarial gains and losses exceed ten percent of the greater of plan assets or plan liabilities we amortize them over the average future service period of employees. The funded status of our pension and postretirement plans is reflected on the Consolidated Statements of Financial Position.

Postemployment Plans

We record a liability for postemployment benefits, such as severance or job training, when payment is probable, the amount is reasonably estimable, and the obligation relates to rights that have vested or accumulated.

Environmental Remediation

We are subject to federal and state requirements for protection of the environment, including those for discharge of hazardous materials and remediation of contaminated sites. We routinely assess, based on in-depth studies, expert analyses and legal reviews, our contingencies, obligations, and commitments for remediation of contaminated sites, including assessments of ranges and probabilities of recoveries from other responsible parties and/or insurance carriers. Our policy is to accrue and charge to current expense identified exposures related to environmental remediation sites when it is probable that a liability has been incurred and the amount can be reasonably estimated. The amount of the liability is based on our best estimate or the low end of a range of reasonably possible exposure for investigation, cleanup, and monitoring costs to be incurred. Estimated remediation costs are not discounted to present value as the timing of payments cannot be reasonably estimated. We may be able to recover a portion of the remediation costs from insurers or other third parties. Such recoveries are recorded when realization of the claim for recovery is deemed probable.

Cash and Cash Equivalents

Cash and cash equivalents consist of highly liquid instruments, such as commercial paper, time deposits, and other money market instruments, which have original maturities of three months or less. We aggregate our cash balances by bank where conditions for right of set-off are met, and reclassify any negative balances, consisting mainly of uncleared checks, to Accounts payable. Negative balances reclassified to Accounts payable were $241 and $108 at December 31, 2014 and 2013.

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Inventories

Inventoried costs on commercial aircraft programs and long-term contracts include direct engineering, production and tooling and other non-recurring costs, and applicable overhead, which includes fringe benefits, production related indirect and plant management salaries and plant services, not in excess of estimated net realizable value. To the extent a material amount of such costs are related to an abnormal event or are fixed costs not appropriately attributable to our programs or contracts, they are expensed in the current period rather than inventoried. Inventoried costs include amounts relating to programs and contracts with long-term production cycles, a portion of which is not expected to be realized within one year. Included in inventory for federal government contracts is an allocation of allowable costs related to manufacturing process reengineering.

Commercial aircraft programs inventory includes deferred production costs and supplier advances. Deferred production costs represent actual costs incurred for production of early units that exceed the estimated average cost of all units in the program accounting quantity. Higher production costs are experienced at the beginning of a new or derivative airplane program. Units produced early in a program require substantially more effort (labor and other resources) than units produced later in a program because of volume efficiencies and the effects of learning. We expect that these deferred costs will be fully recovered when all units included in the accounting quantity are delivered as the expected unit cost for later deliveries is below the estimated average cost of all units in the program. Supplier advances represent payments for parts we have contracted to receive from suppliers in the future. As parts are received, supplier advances are amortized to work in process.

The determination of net realizable value of long-term contract costs is based upon quarterly reviews that estimate costs to be incurred to complete all contract requirements. When actual contract costs and the estimate to complete exceed total estimated contract revenues, a loss provision is recorded. The determination of net realizable value of commercial aircraft program costs is based upon quarterly program reviews that estimate revenue and cost to be incurred to complete the program accounting quantity. When estimated costs to complete exceed estimated program revenues to go, a program loss provision is recorded in the current period for the estimated loss on all undelivered units in the accounting quantity.

Used aircraft purchased by the Commercial Airplanes segment and general stock materials are stated at cost not in excess of net realizable value. See ‘Aircraft Valuation’ within this Note for a discussion of our valuation of used aircraft. Spare parts inventory is stated at lower of average unit cost or market. We review our commercial spare parts and general stock materials quarterly to identify impaired inventory, including excess or obsolete inventory, based on historical sales trends, expected production usage, and the size and age of the aircraft fleet using the part. Impaired inventories are charged to Cost of products in the period the impairment occurs.

Included in inventory for commercial aircraft programs are amounts paid or credited in cash, or other consideration to certain airline customers, that are referred to as early issue sales consideration. Early issue sales consideration is recognized as a reduction to revenue when the delivery of the aircraft under contract occurs. If an airline customer does not perform and take delivery of the contracted aircraft, we believe that we would have the ability to recover amounts paid. However, to the extent early issue sales consideration exceeds advances and is not considered to be otherwise recoverable, it would be written off in the current period.

We net advances and progress billings on long-term contracts against inventory in the Consolidated Statements of Financial Position. Advances and progress billings in excess of related inventory are reported in Advances and billings in excess of related costs.

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Precontract Costs

We may, from time to time, incur costs in excess of the amounts required for existing contracts. If we determine the costs are probable of recovery from future orders, then we capitalize the precontract costs we incur, excluding start-up costs which are expensed as incurred. Capitalized precontract costs are included in Inventories, net of advances and progress billings, in the accompanying Consolidated Statements of Financial Position. Should future orders not materialize or we determine the costs are no longer probable of recovery, the capitalized costs would be written off.

Property, Plant and Equipment

Property, plant and equipment are recorded at cost, including applicable construction-period interest, less accumulated depreciation and are depreciated principally over the following estimated useful lives: new buildings and land improvements, from 10 to 40 years; and new machinery and equipment, from 3 to 20 years. The principal methods of depreciation are as follows: buildings and land improvements, 150% declining balance; and machinery and equipment, sum-of-the-years’ digits. Capitalized internal use software is included in Other assets and amortized using the straight line method over 5 years. We periodically evaluate the appropriateness of remaining depreciable lives assigned to long-lived assets, including assets that may be subject to a management plan for disposition.

Long-lived assets held for sale are stated at the lower of cost or fair value less cost to sell. Long-lived assets held for use are subject to an impairment assessment whenever events or changes in circumstances indicate that the carrying amount may not be recoverable. If the carrying value is no longer recoverable based upon the undiscounted future cash flows of the asset, the amount of the impairment is the difference between the carrying amount and the fair value of the asset.

Asset Retirement Obligations

We record all known asset retirement obligations for which the liability’s fair value can be reasonably estimated, including certain asbestos removal, asset decommissioning and contractual lease restoration obligations. Recorded amounts are not material.

We also have known conditional asset retirement obligations, such as certain asbestos remediation and asset decommissioning activities to be performed in the future, that are not reasonably estimable due to insufficient information about the timing and method of settlement of the obligation. Accordingly, these obligations have not been recorded in the Consolidated Financial Statements. A liability for these obligations will be recorded in the period when sufficient information regarding timing and method of settlement becomes available to make a reasonable estimate of the liability’s fair value. In addition, there may be conditional asset retirement obligations that we have not yet discovered (e.g. asbestos may exist in certain buildings but we have not become aware of it through the normal course of business), and therefore, these obligations also have not been included in the Consolidated Financial Statements.

Goodwill and Other Acquired Intangibles

Goodwill and other acquired intangible assets with indefinite lives are not amortized, but are tested for impairment annually and when an event occurs or circumstances change such that it is more likely than not that an impairment may exist. Our annual testing date is April 1.

We test goodwill for impairment by performing a qualitative assessment or using a two-step impairment process. If we choose to perform a qualitative assessment and determine it is more likely than not that the carrying value of the net assets is more than the fair value of the related operations, the two-step impairment process is then performed; otherwise, no further testing is required. For operations where the two-step impairment process is used, we first compare the carrying value of net assets to the fair value of the related

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operations. If the fair value is determined to be less than carrying value, a second step is performed to compute the amount of the impairment. In this process, a fair value for goodwill is estimated, based in part on the fair value of the operations, and is compared to its carrying value. The shortfall of the fair value below carrying value represents the amount of goodwill impairment.

Indefinite-lived intangibles consist of brand and trade names acquired in business combinations. We test these intangibles for impairment by comparing their carrying value to current projections of discounted cash flows attributable to the brand and trade names. Any excess carrying value over the amount of discounted cash flows represents the amount of the impairment.

Our finite-lived acquired intangible assets are amortized on a straight-line basis over their estimated useful lives as follows: developed technology, from 5 to 14 years; product know-how, from 5 to 30 years; customer base, from 3 to 19 years; distribution rights, from 5 to 27 years; and other, from 3 to 32 years. We evaluate the potential impairment of finite-lived acquired intangible assets whenever events or changes in circumstances indicate that the carrying amount may not be recoverable. If the carrying value is no longer recoverable based upon the undiscounted future cash flows of the asset, the amount of the impairment is the difference between the carrying amount and the fair value of the asset.

Investments

Time deposits are held-to-maturity investments that are carried at cost.

The equity method of accounting is used to account for investments for which we have the ability to exercise significant influence, but not control, over an investee. Significant influence is generally deemed to exist if we have an ownership interest in the voting stock of an investee of between 20% and 50%.

We classify investment income and loss on our Consolidated Statements of Operations based on whether the investment is operating or non-operating in nature. Operating investments align strategically and are integrated with our operations. Earnings from operating investments, including our share of income or loss from equity method investments, dividend income from certain cost method investments, and any impairments or gain/loss on the disposition of these investments, are recorded in Income from operating investments, net. Non-operating investments are those we hold for non-strategic purposes. Earnings from non-operating investments, including interest and dividends on marketable securities, and any impairments or gain/loss on the disposition of these investments are recorded in Other income/(expense), net.

Derivatives

All derivative instruments are recognized in the financial statements and measured at fair value regardless of the purpose or intent of holding them. We use derivative instruments to principally manage a variety of market risks. For derivatives designated as hedges of the exposure to changes in fair value of the recognized asset or liability or a firm commitment (referred to as fair value hedges), the gain or loss is recognized in earnings in the period of change together with the offsetting loss or gain on the hedged item attributable to the risk being hedged. The effect of that accounting is to include in earnings the extent to which the hedge is not effective in achieving offsetting changes in fair value. For our cash flow hedges, the effective portion of the derivative’s gain or loss is initially reported in comprehensive income and is subsequently reclassified into earnings in the same period or periods during which the hedged forecasted transaction affects earnings. The ineffective portion of the gain or loss of a cash flow hedge is reported in earnings immediately. We also hold certain instruments for economic purposes that are not designated for hedge accounting treatment. For these derivative instruments, the changes in their fair value are also recorded in earnings immediately.

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Aircraft Valuation

Used aircraft under trade-in commitments and aircraft under repurchase commitments In conjunction with signing a definitive agreement for the sale of new aircraft (Sale Aircraft), we have entered into trade-in commitments with certain customers that give them the right to trade in used aircraft at a specified price upon the purchase of Sale Aircraft. Additionally, we have entered into contingent repurchase commitments with certain customers wherein we agree to repurchase the Sale Aircraft at a specified price, generally 10 to 15 years after delivery of the Sale Aircraft. Our repurchase of the Sale Aircraft is contingent upon a future, mutually acceptable agreement for the sale of additional new aircraft. If we execute an agreement for the sale of additional new aircraft, and if the customer exercises its right to sell the Sale Aircraft to us, a contingent repurchase commitment would become a trade-in commitment. Our historical experience is that contingent repurchase commitments infrequently become trade-in commitments.

Exposure related to trade-in commitments may take the form of:

(1) adjustments to revenue for the difference between the contractual trade-in price in the definitive agreement and our best estimate of the fair value of the trade-in aircraft as of the date of such agreement, which would be recognized upon delivery of the Sale Aircraft, and/or

(2) charges to cost of products for adverse changes in the fair value of trade-in aircraft that occur subsequent to signing of a definitive agreement for Sale Aircraft but prior to the purchase of the used trade-in aircraft. Estimates based on current aircraft values would be included in Accrued liabilities.

The fair value of trade-in aircraft is determined using aircraft-specific data such as model, age and condition, market conditions for specific aircraft and similar models, and multiple valuation sources. This process uses our assessment of the market for each trade-in aircraft, which in most instances begins years before the return of the aircraft. There are several possible markets in which we continually pursue opportunities to place used aircraft. These markets include, but are not limited to, the resale market, which could potentially include the cost of long-term storage; the leasing market, with the potential for refurbishment costs to meet the leasing customer’s requirements; or the scrap market. Trade-in aircraft valuation varies significantly depending on which market we determine is most likely for each aircraft. On a quarterly basis, we update our valuation analysis based on the actual activities associated with placing each aircraft into a market. This quarterly valuation process yields results that are typically lower than residual value estimates by independent sources and tends to more accurately reflect results upon the actual placement of the aircraft.

Used aircraft acquired by the Commercial Airplanes segment are included in Inventories at the lower of cost or market as it is our intent to sell these assets. To mitigate costs and enhance marketability, aircraft may be placed on operating lease. While on operating lease, the assets are included in Customer financing.

Customer financing Customer financing includes operating lease equipment, notes receivable, and sales-type/finance leases. Sales-type/finance leases are treated as receivables, and allowances for losses are established as necessary.

We assess the fair value of the assets we own, including equipment under operating leases, assets held for sale or re-lease, and collateral underlying receivables, to determine if their fair values are less than the related assets’ carrying values. Differences between carrying values and fair values of sales-type/finance leases and notes and other receivables, as determined by collateral value, are considered in determining the allowance for losses on receivables.

We use a median calculated from published collateral values from multiple third-party aircraft value publications based on the type and age of the aircraft to determine the fair value of aircraft. Under certain circumstances, we apply judgment based on the attributes of the specific aircraft or equipment, usually

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when the features or use of the aircraft vary significantly from the more generic aircraft attributes covered by outside publications.

Impairment review for assets under operating leases and held for sale or re-lease We evaluate for impairment assets under operating lease or assets held for sale or re-lease when events or changes in circumstances indicate that the expected undiscounted cash flow from the asset may be less than the carrying value. We use various assumptions when determining the expected undiscounted cash flow, including our intentions for how long we will hold an asset subject to operating lease before it is sold, the expected future lease rates, lease terms, residual value of the asset, periods in which the asset may be held in preparation for a follow-on lease, maintenance costs, remarketing costs and the remaining economic life of the asset. We record assets held for sale at the lower of carrying value or fair value less costs to sell.

When we determine that impairment is indicated for an asset, the amount of impairment expense recorded is the excess of the carrying value over the fair value of the asset.

Allowance for losses on customer financing receivables We record the potential impairment of customer financing receivables in a valuation account, the balance of which is an accounting estimate of probable but unconfirmed losses. The allowance for losses on receivables relates to two components of receivables: (a) receivables that are evaluated individually for impairment and (b) all other receivables.

We determine a receivable is impaired when, based on current information and events, it is probable that we will be unable to collect amounts due according to the original contractual terms of the receivable agreement, without regard to any subsequent restructurings. Factors considered in assessing collectability include, but are not limited to, a customer’s extended delinquency, requests for restructuring and filings for bankruptcy. We determine a specific impairment allowance based on the difference between the carrying value of the receivable and the estimated fair value of the related collateral we would expect to realize.

We review the adequacy of the allowance attributable to the remaining receivables (after excluding receivables subject to a specific impairment allowance) by assessing both the collateral exposure and the applicable cumulative default rate. Collateral exposure for a particular receivable is the excess of the carrying value of the receivable over the fair value of the related collateral. A receivable with an estimated fair value in excess of the carrying value is considered to have no collateral exposure. The applicable cumulative default rate is determined using two components: customer credit ratings and weighted average remaining contract term. Internally assigned credit ratings, our credit quality indicator, are determined for each customer in the portfolio. Those ratings are updated based upon public information and information obtained directly from our customers.

We have entered into agreements with certain customers that would entitle us to look beyond the specific collateral underlying the receivable for purposes of determining the collateral exposure as described above. Should the proceeds from the sale of the underlying collateral asset resulting from a default condition be insufficient to cover the carrying value of our receivable (creating a shortfall condition), these agreements would, for example, permit us to take the actions necessary to sell or retain certain other assets in which the customer has an equity interest and use the proceeds to cover the shortfall.

Each quarter we review customer credit ratings, published historical credit default rates for different rating categories, and multiple third-party aircraft value publications as a basis to validate the reasonableness of the allowance for losses on receivables. There can be no assurance that actual results will not differ from estimates or that the consideration of these factors in the future will not result in an increase or decrease to the allowance for losses on receivables.

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Warranties

In conjunction with certain product sales, we provide warranties that cover factors such as non-conformance to specifications and defects in material and design. The majority of our warranties are issued by our Commercial Airplanes segment. Generally, aircraft sales are accompanied by a three to four-year standard warranty for systems, accessories, equipment, parts, and software manufactured by us or manufactured to certain standards under our authorization. These warranties are included in the programs’ estimate at completion. On occasion we have made commitments beyond the standard warranty obligation to correct fleet-wide major issues of a particular model, resulting in additional accrued warranty expense. Warranties issued by our BDS segments principally relate to sales of military aircraft and weapons hardware and are included in the contract cost estimates. These sales are generally accompanied by a six to twelve-month warranty period and cover systems, accessories, equipment, parts, and software manufactured by us to certain contractual specifications. Estimated costs related to standard warranties are recorded in the period in which the related product sales occur. The warranty liability recorded at each balance sheet date reflects the estimated number of months of warranty coverage outstanding for products delivered times the average of historical monthly warranty payments, as well as additional amounts for certain major warranty issues that exceed a normal claims level. Estimated costs of these additional warranty issues are considered changes to the initial liability estimate.

We provide guarantees to certain commercial airplane customers which include compensation provisions for failure to meet specified aircraft performance targets. We account for these performance guarantees as warranties. The estimated liability for these warranties is based on known and anticipated operational characteristics and forecasted customer operation of the aircraft relative to contractually specified performance targets, and anticipated settlements when contractual remedies are not specified. Estimated payments are recorded as a reduction of revenue at delivery of the related aircraft. We have agreements that require certain suppliers to compensate us for amounts paid to customers for failure of supplied equipment to meet specified performance targets. Claims against suppliers under these agreements are included in Inventories and recorded as a reduction in Cost of products at delivery of the related aircraft. These performance warranties and claims against suppliers are included in the programs’ estimate at completion.

Supplier Penalties

We record an accrual for supplier penalties when an event occurs that makes it probable that a supplier penalty will be incurred and the amount is reasonably estimable. Until an event occurs, we fully anticipate accepting all products procured under production-related contracts.

Guarantees

We record a liability in Accrued liabilities for the fair value of guarantees that are issued or modified after December 31, 2002. For a residual value guarantee where we received a cash premium, the liability is equal to the cash premium received at the guarantee’s inception. For credit guarantees, the liability is equal to the present value of the expected loss. We determine the expected loss by multiplying the creditor’s default rate by the guarantee amount reduced by the expected recovery, if applicable, for each future period the credit guarantee will be outstanding. If at inception of a guarantee, we determine there is a probable related contingent loss, we will recognize a liability for the greater of (a) the fair value of the guarantee as described above or (b) the probable contingent loss amount.

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Note 2 – Goodwill and Acquired Intangibles

Changes in the carrying amount of goodwill by reportable segment for the years ended December 31, 2014 and 2013 were as follows:

	Commercial Airplanes			Boeing Military Aircraft		Network & Space Systems			Global Services & Support		Total
Balance at January 1, 2013		$2,125			$946		$1,513			$451		$5,035
Acquisitions				18					7		25
Goodwill adjustments	(17		)								(17		)
Balance at December 31, 2013		$2,108			$964		$1,513			$458		$5,043
Acquisitions	45					57					102
Goodwill adjustments	(22		)			(4		)			(26		)
Balance at December 31, 2014		$2,131			$964		$1,566			$458		$5,119

As of December 31, 2014 and 2013, we had indefinite-lived intangible assets with carrying amounts of $490 and $497 relating to trade names.

The gross carrying amounts and accumulated amortization of our acquired finite-lived intangible assets were as follows at December 31:

	2014				2013
	Gross Carrying Amount		Accumulated Amortization		Gross Carrying Amount		Accumulated Amortization
Distribution rights		$2,245		$550		$2,275		$483
Product know-how	494		216		507		199
Customer base	619		381		615		347
Developed technology	500		386		853		742
Other	202		148		233		157
Total		$4,060		$1,681		$4,483		$1,928

Amortization expense for acquired finite-lived intangible assets for the years ended December 31, 2014 and 2013 was $227 and $205. Estimated amortization expense for the five succeeding years is as follows:

	2015		2016		2017		2018		2019
Estimated amortization expense		$215		$210		$201		$190		$182

During 2014 and 2013 we acquired $87 and $144 of finite-lived intangible assets, of which $24 and $0 related to non-cash investing and financing transactions. Total acquired finite-lived intangibles of $24 and $182 remain unpaid as of December 31, 2014 and 2013.

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Note 3 – Earnings Per Share

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, less earnings available to participating securities, divided by the basic weighted average common shares outstanding.

Diluted earnings per share is calculated by taking net earnings, less earnings available to participating securities, divided by the diluted weighted average common shares outstanding.

The elements used in the computation of basic and diluted earnings per share were as follows:

(In millions - except per share amounts)
Years ended December 31,	2014		2013		2012
Net earnings		$5,446		$4,585		$3,900
Less: earnings available to participating securities	6		7		8
Net earnings available to common shareholders		$5,440		$4,578		$3,892
Basic
Basic weighted average shares outstanding	728.9		760.8		758.0
Less: participating securities	1.3		1.9		2.3
Basic weighted average common shares outstanding	727.6		758.9		755.7
Diluted
Basic weighted average shares outstanding	728.9		760.8		758.0
Dilutive potential common shares(1)	9.1		8.7		5.8
Diluted weighted average shares outstanding	738.0		769.5		763.8
Less: participating securities	1.3		1.9		2.3
Diluted weighted average common shares outstanding	736.7		767.6		761.5
Net earnings per share:
Basic		$7.47		$6.03		$5.15
Diluted	7.38		5.96		5.11

⁽¹⁾  Diluted earnings per share includes any dilutive impact of stock options, restricted stock units, performance-based restricted stock units and performance awards.

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The following table includes the number of shares that may be dilutive potential common shares in the future. These shares were not included in the computation of diluted earnings per share because the effect was either antidilutive or the performance condition was not met.

(Shares in millions)
Years ended December 31,	2014	2013	2012
Stock options		4.8	23.6
Performance awards	5.1	4.2	4.9
Performance-based restricted stock units	1.3

Note 4 – Income Taxes

The components of earnings before income taxes were:

Years ended December 31,	2014		2013		2012
U.S.		$6,829		$5,946		$5,647
Non-U.S.	308		286		263
Total		$7,137		$6,232		$5,910

Income tax expense/(benefit) consisted of the following:

Years ended December 31,	2014			2013			2012
Current tax expense
U.S. federal		$676			($82	)		$657
Non-U.S.	91			76			52
U.S. state	69			11			19
Total current	836			5			728
Deferred tax expense
U.S. federal	828			1,531			1,209
Non-U.S.	34			41			(13		)
U.S. state	(7		)	69			83
Total deferred	855			1,641			1,279
Total income tax expense		$1,691			$1,646			$2,007

Net income tax payments were $355, $209 and $410 in 2014, 2013 and 2012, respectively.

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The following is a reconciliation of the U.S. federal statutory tax rate of 35% to our effective income tax rates:

Years ended December 31,	2014		2013		2012
U.S. federal statutory tax	35.0	%	35.0	%	35.0	%
Research and development credits (1)	(2.9	)	(4.9	)	0.8
Amendments to the R&E regulations (2)			(3.4	)
Tax basis adjustment (3)	(3.6	)
Tax on international activities	(0.2	)	(0.1	)	(1.2	)
Tax deductible dividends	(0.7	)	(0.6	)	(0.7	)
State income tax provision, net of effect on U.S. federal tax	0.7		0.4		0.8
Federal audit settlements (4)	(3.6	)
Other provision adjustments	(1.0	)			(0.7	)
Effective income tax rate	23.7	%	26.4	%	34.0	%

⁽¹⁾  In the fourth quarter of 2014, we recorded tax benefits of $188 related to the reinstatement of the research tax credit for 2014. Research tax credits for the 2013 and 2012 tax years were both recorded in 2013.

⁽²⁾  In 2013, we recorded $212 for the issuance of favorable regulations related to research and experimental (R&E) expenditures.

⁽³⁾  In the second quarter of 2014 we recorded an incremental tax benefit of $265 related to the application of a 2012 Federal Court of Claims decision which held that the tax basis in certain assets could be increased and realized upon the assets' disposition (tax basis adjustment).

⁽⁴⁾  In the second quarter of 2014, tax benefits of $116 and $143 were recorded as a result of the 2007-2008 and 2009-2010 federal tax audit settlements.

The research tax credit expired on December 31, 2014. If the research tax credit is not extended there would be an unfavorable impact to our 2015 effective income tax rate.

Federal income tax audits have been settled for all years prior to 2011. The years 2011-2012 are currently being examined by the IRS. We are also subject to examination in major state and international jurisdictions for the 2001-2014 tax years. We believe appropriate provisions for all outstanding tax issues have been made for all jurisdictions and all open years.

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Significant components of our deferred tax (liabilities)/assets at December 31 were as follows:

	2014			2013
Inventory and long-term contract methods of income recognition, fixed assets and other (net of valuation allowance of $18 and $20)		($11,589	)		($9,948	)
Pension benefits	6,145			3,099
Retiree health care benefits	2,572			2,458
Other employee benefits	1,477			1,773
Customer and commercial financing	(853		)	(990		)
Net operating loss, credit and capital loss carryovers (net of valuation allowance of $63 and $105)(1)	266			362
Other net unrealized losses	110			26
Unremitted earnings of non-U.S. subsidiaries	(37		)	(44		)
In-process research and development related to acquisitions	10			23
Partnerships and joint ventures	9			(62		)
Net deferred tax (liabilities)/assets(2)		($1,890	)		($3,303	)

⁽¹⁾   Of the deferred tax asset for net operating loss and credit carryovers, $252 expires in years ending from December 31, 2015 through December 31, 2034 and $14 may be carried over indefinitely.

⁽²⁾   Included in the net deferred tax (liabilities)/assets as of December 31, 2014 and 2013 are deferred tax assets in the amounts of $8,007 and $5,818 related to Accumulated other comprehensive loss.

Net deferred tax (liabilities)/assets at December 31 were as follows:

	2014			2013
Deferred tax assets		$14,219			$12,486
Deferred tax liabilities	(16,028		)	(15,664		)
Valuation allowance	(81		)	(125		)
Net deferred tax (liabilities)/assets		($1,890	)		($3,303	)

The measurement of deferred tax assets is reduced by a valuation allowance if, based upon available evidence, it is more likely than not that some or all of the deferred tax assets will not be realized.

We have provided for U.S. deferred income taxes and foreign withholding tax in the amount of $37 on undistributed earnings not considered indefinitely reinvested in our non-U.S. subsidiaries. We have not provided for U.S. deferred income taxes or foreign withholding tax on the remainder of undistributed earnings from our non-U.S. subsidiaries of approximately $800 because such earnings are considered to be indefinitely reinvested and it is not practicable to estimate the amount of tax that may be payable upon distribution.

As of December 31, 2014 and 2013, the amounts accrued for the payment of income tax-related interest and penalties included in the Consolidated Statements of Financial Position were as follows: interest of $17 and $12 and penalties of $5 and $8. The amounts of interest benefit included in the Consolidated Statements of Operations were $17, $4, and $43 for the years ended December 31, 2014, 2013 and 2012, respectively. The interest benefit recorded during 2012 was primarily related to the settlement of non-US audits.

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A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows:

	2014			2013			2012
Unrecognized tax benefits – January 1		$1,141			$1,055			$939
Gross increases – tax positions in prior periods	403			10			55
Gross decreases – tax positions in prior periods	(251		)	(125		)	(20		)
Gross increases – current-period tax positions	217			202			83
Gross decreases – current-period tax positions				(1		)	(1		)
Settlements	(197		)				(1		)
Lapse of statute of limitations	(1		)
Unrecognized tax benefits – December 31		$1,312			$1,141			$1,055

As of December 31, 2014, 2013 and 2012, the total amount of unrecognized tax benefits was $1,312, $1,141 and $1,055, respectively, of which $1,180, $1,018 and $945 would affect the effective tax rate, if recognized. As of December 31, 2014, these amounts are primarily associated with U.S. federal tax issues such as the amount of research tax credits claimed, the domestic production activities deductions claimed, tax basis adjustments and U.S. taxation of foreign earnings. Also included in these amounts are accruals for domestic state tax issues such as the allocation of income among various state tax jurisdictions and the amount of state tax credits claimed.

Note 5 – Accounts Receivable, net

Accounts receivable at December 31 consisted of the following:

	2014			2013
U.S. government contracts		$4,281			$3,604
Defense, Space & Security customers (1)	1,018			1,073
Commercial Airplanes customers	1,749			1,072
Reinsurance receivables	512			525
Other	296			376
Less valuation allowance	(127		)	(104		)
Total		$7,729			$6,546

⁽¹⁾  Excludes U.S. government contracts

The following table summarizes our accounts receivable under long-term contracts that were unbillable or related to outstanding claims as of December 31:

	Unbillable				Claims
	2014		2013		2014		2013
Current		$2,306		$1,550		$29		$3
Expected to be collected after one year	1,408		1,020		73		61
Total		$3,714		$2,570		$102		$64

Under contract accounting unbillable receivables on long-term contracts arise when the sales or revenues based on performance attainment, though appropriately recognized, cannot be billed yet under terms of the contract as of the balance sheet date. Any adjustment for the credit quality of unbillable receivables, if required, would be recorded as a direct reduction of revenue. Factors considered in assessing the collectability of unbillable receivables include, but are not limited to, a customer’s extended delinquency,

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requests for restructuring and filings for bankruptcy. Unbillable receivables related to commercial customers expected to be collected after one year were$172 and $179 at December 31, 2014 and 2013. Accounts receivable related to claims are items that we believe are earned, but are subject to uncertainty concerning their determination or ultimate realization.

Accounts receivable as of December 31, 2014, includes $112 of unbillable receivables on a long-term contract with LightSquared, LP (LightSquared) related to the construction of two commercial satellites. One of the satellites has been delivered, and the other is substantially complete but remains in Boeing’s possession. On May 14, 2012, LightSquared filed for Chapter 11 bankruptcy protection. We believe that our rights in the second satellite and related ground-segment assets are sufficient to protect the value of our receivables in the event LightSquared fails to make payments as contractually required or rejects its contract with us. Given the uncertainties inherent in bankruptcy proceedings, it is reasonably possible that we could incur losses related to these receivables in connection with the LightSquared bankruptcy.

Accounts receivable, other than those described above, expected to be collected after one year are not material.

Note 6 – Inventories

Inventories at December 31 consisted of the following:

	2014			2013
Long-term contracts in progress		$13,381			$12,608
Commercial aircraft programs	55,220			48,065
Commercial spare parts, used aircraft, general stock materials and other	7,421			7,793
Inventory before advances and progress billings	76,022			68,466
Less advances and progress billings	(29,266		)	(25,554		)
Total		$46,756			$42,912

Long-Term Contracts in Progress

Long-term contracts in progress includes Delta launch program inventory that is being sold at cost to United Launch Alliance (ULA) under an inventory supply agreement that terminates on March 31, 2021. At December 31, 2014 and 2013, the inventory balance was $154 (net of advances of $322) and $425 (net of advances of $331). At December 31, 2014, $292 of this inventory related to unsold launches. See Note 12.

Capitalized precontract costs of $1,281 and $520 at December 31, 2014 and 2013 are included in inventories. See C-17 in Note 11.

Commercial Aircraft Programs

At December 31, 2014 and 2013, commercial aircraft programs inventory included the following amounts related to the 787 program: $33,163 and $27,576 of work in process (including deferred production costs of $26,149 and $21,620), $2,257 and $2,189 of supplier advances, and $3,801 and $3,377 of unamortized tooling and other non-recurring costs. At December 31, 2014, $20,982 of 787 deferred production costs, unamortized tooling and other non-recurring costs are expected to be recovered from units included in the program accounting quantity that have firm orders and $8,968 is expected to be recovered from units included in the program accounting quantity that represent expected future orders.

At December 31, 2014 and 2013, commercial aircraft programs inventory included the following amounts related to the 747 program: $1,741 and $1,554 of deferred production costs, net of previously recorded

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reach-forward losses, and $476 and $563 of unamortized tooling costs. At December 31, 2014, $1,047 of 747 deferred production and unamortized tooling costs are expected to be recovered from units included in the program accounting quantity that have firm orders and $1,170 is expected to be recovered from units included in the program accounting quantity that represent expected future orders.

Commercial aircraft programs inventory included amounts credited in cash or other consideration (early issue sales consideration) to airline customers totaling $3,341 and $3,465 at December 31, 2014 and 2013.

Note 7 – Customer Financing

Customer financing primarily relates to the Boeing Capital (BCC) segment and consisted of the following at December 31:

	2014			2013
Financing receivables:
Investment in sales-type/finance leases		$1,535			$1,699
Notes	370			587
Total financing receivables	1,905			2,286
Operating lease equipment, at cost, less accumulated depreciation of $571 and $564	1,677			1,734
Gross customer financing	3,582			4,020
Less allowance for losses on receivables	(21		)	(49		)
Total		$3,561			$3,971

The components of investment in sales-type/finance leases at December 31 were as follows:

	2014			2013
Minimum lease payments receivable		$1,475			$1,731
Estimated residual value of leased assets	521			543
Unearned income	(461		)	(575		)
Total		$1,535			$1,699

Operating lease equipment primarily includes large commercial jet aircraft and regional jet aircraft. At December 31, 2014 and 2013, operating lease equipment included $48 and $83 of BCC equipment available for sale or re-lease. At December 31, 2014 and 2013, we had firm lease commitments for $0 and $57 of this equipment.

Financing receivable balances evaluated for impairment at December 31 were as follows:

	2014		2013
Individually evaluated for impairment		$86		$95
Collectively evaluated for impairment	1,819		2,191
Total financing receivables		$1,905		$2,286

We determine a receivable is impaired when, based on current information and events, it is probable that we will be unable to collect amounts due according to the original contractual terms. At December 31, 2014 and 2013, we individually evaluated for impairment customer financing receivables of $86 and $95 and determined that none of these were impaired. As of December 31, 2014 and 2013, we had no material receivables that were greater than 30 days past due and we had no impaired customer financing receivables during 2014.

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Income recognition is generally suspended for financing receivables at the date full recovery of income and principal becomes not probable. Income is recognized when financing receivables become contractually current and performance is demonstrated by the customer. For the years ended December 31, 2013 and 2012, interest income recognized on such receivables was $30 and $6, and the average recorded investment in impaired financing receivables was $376 and $466.

The change in the allowance for losses on financing receivables for the years ended December 31, 2014, 2013 and 2012, consisted of the following:

	2014			2013			2012
Beginning balance - January 1		($49	)		($60	)		($70	)
Customer financing valuation benefit	28			11			10
Ending balance - December 31		($21	)		($49	)		($60	)
Collectively evaluated for impairment		($21	)		($49	)		($60	)

The adequacy of the allowance for losses is assessed quarterly. Three primary factors influencing the level of our allowance for losses on customer financing receivables are customer credit ratings, default rates and collateral values. We assign internal credit ratings for all customers and determine the creditworthiness of each customer based upon publicly available information and information obtained directly from our customers. Our rating categories are comparable to those used by the major credit rating agencies.

Our financing receivable balances at December 31 by internal credit rating category are shown below:

Rating categories	2014		2013
BBB		$1,055		$1,091
BB			58
B	633		585
CCC	131		457
Other	86		95
Total carrying value of financing receivables		$1,905		$2,286

At December 31, 2014, our allowance related to receivables with ratings of B and BBB. We applied default rates that averaged 16% and 2% to the exposure associated with those receivables.

Customer Financing Exposure

Customer financing is collateralized by security in the related asset. The value of the collateral is closely tied to commercial airline performance and overall market conditions and may be subject to reduced valuation with market decline. Declines in collateral values are also a significant driver of our allowance for losses. Generally, out-of-production aircraft have experienced greater collateral value declines than in-production aircraft.

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Our customer financing portfolio is primarily collateralized by out-of-production 717, 757 and MD-80 aircraft. The majority of customer financing carrying values are concentrated in the following aircraft models at December 31:

	2014		2013
717 Aircraft ($421 and $444 accounted for as operating leases)		$1,562		$1,674
747 Aircraft ($601 and $183 accounted for as operating leases)	601		286
757 Aircraft ($349 and $402 accounted for as operating leases)	370		453
MD-80 Aircraft (Accounted for as sales-type finance leases)	358		411
767 Aircraft ($47 and $60 accounted for as operating leases)	158		207
737 Aircraft ($127 and $138 accounted for as operating leases)	156		210
MD-11 Aircraft (Accounted for as operating leases)	114		220
787 Aircraft (Accounted for as operating leases)			273

Charges related to customer financing asset impairment for the years ended December 31 were as follows:

	2014		2013		2012
Boeing Capital		$139		$67		$73
Other Boeing	45		14		(15		)
Total		$184		$81		$58

Scheduled receipts on customer financing are as follows:

Year	2015		2016		2017		2018		2019		Beyond 2019
Principal payments on notes receivable		$55		$41		$42		$120		$69		$43
Sales-type/finance lease payments receivable	228		225		206		195		182		439
Operating lease equipment payments receivable	505		130		92		70		54		143

Note 8 – Property, Plant and Equipment

Property, plant and equipment at December 31 consisted of the following:

	2014			2013
Land		$560			$562
Buildings and land improvements	11,767			11,068
Machinery and equipment	12,867			12,376
Construction in progress	1,502			1,288
Gross property, plant and equipment	26,696			25,294
Less accumulated depreciation	(15,689		)	(15,070		)
Total		$11,007			$10,224

Depreciation expense was $1,414, $1,338 and $1,248 for the years ended December 31, 2014, 2013 and 2012, respectively. Interest capitalized during the years ended December 31, 2014, 2013 and 2012 totaled $102, $87 and $74, respectively.

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Rental expense for leased properties was $277, $287 and $276, for the years ended December 31, 2014, 2013 and 2012, respectively. At December 31, 2014, minimum rental payments under capital leases aggregated $158. Minimum rental payments under operating leases with initial or remaining terms of one year or more aggregated $1,486, net of sublease payments of $17 at December 31, 2014. Payments due under operating and capital leases net of sublease amounts and non-cancellable future rentals during the next five years are as follows:

	2015		2016		2017		2018		2019
Minimum operating lease payments, net of sublease amounts		$221		$203		$175		$146		$123
Minimum capital lease payments, net of sublease amounts	56		40		33		14		3

Accounts payable related to purchases of property, plant and equipment were $299 and $213 for the years ended December 31, 2014 and 2013.

Note 9 – Investments

Our investments, which are recorded in Short-term and other investments or Investments, consisted of the following at December 31:

	2014		2013
Time deposits		$1,295		$6,090
Pledged money market funds(1)	38		46
Available-for-sale investments	7		8
Equity method investments (2)	1,114		1,164
Restricted cash(3)	26		33
Other investments	33		33
Total		$2,513		$7,374

⁽¹⁾  Reflects amounts pledged in lieu of letters of credit as collateral in support of our workers’ compensation programs. These funds can become available within 30 days notice upon issuance of letters of credit.

⁽²⁾  Dividends received were $293 and $226 during 2014 and 2013. Retained earnings at December 31, 2014 include undistributed earnings from our equity method investments of $158.

⁽³⁾  Restricted to pay certain claims related to workers’ compensation and life insurance premiums for certain employees.

Equity Method Investments

Our equity method investments consisted of the following as of December 31:

	Segment	Ownership Percentages	Investment Balance
			2014		2013
United Launch Alliance	Network & Space Systems (N&SS)	50%		$916		$970
Other	Commercial Airplanes, N&SS and Global Services & Support (GS&S)		198		194
Total equity method investments				$1,114		$1,164

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Note 10 – Other Assets

Sea Launch

At December 31, 2014 and 2013, Other assets included $356 of receivables related to our former investment in the Sea Launch venture which became payable by certain Sea Launch partners following Sea Launch’s bankruptcy filing in June 2009. The $356 includes $147 related to a payment made by us under a bank guarantee on behalf of Sea Launch and $209 related to loans (partner loans) we made to Sea Launch. The net amounts owed to Boeing by each of the partners are as follows: S.P. Koroley Rocket and Space Corporation Energia of Russia – $223, PO Yuzhnoye Mashinostroitelny Zavod of Ukraine – $89 and KB Yuzhnoye of Ukraine – $44.

Although each partner is contractually obligated to reimburse us for its share of the bank guarantee, the Russian and Ukrainian partners have raised defenses to enforcement and contested our claims. On October 19, 2009, we filed a Notice of Arbitration with the Stockholm Chamber of Commerce seeking reimbursement from the other Sea Launch partners of the$147 bank guarantee payment. On October 7, 2010, the arbitrator ruled that the Stockholm Chamber of Commerce lacked jurisdiction to hear the matter but did not resolve the merits of our claim. We filed a notice appealing the arbitrator’s ruling on January 11, 2011. On April 11, 2014, the appellate court entered a ruling that the decision of the arbitrator is not appealable. On May 9, 2014, we filed a brief with the Supreme Court of Sweden appealing the appellate court's April 11, 2014 ruling. On February 1, 2013, we filed an action in the United States District Court for the Central District of California seeking reimbursement from the other Sea Launch partners of the $147 bank guarantee payment and the $209 partner loan obligations. A trial in the United States District Court for the Central District of California is scheduled to commence July 14, 2015. We believe the partners have the financial wherewithal to pay and intend to pursue vigorously all of our rights and remedies. In the event we are unable to secure reimbursement of $147 related to our payment under the bank guarantee and $209 related to partner loans made to Sea Launch, we could incur additional charges. Our current assessment as to the collectability of these receivables takes into account the current economic conditions in Russia and Ukraine, although we will continue to monitor the situation.

Note 11 – Liabilities, Commitments and Contingencies

Accrued Liabilities

Accrued liabilities at December 31 consisted of the following:

	2014		2013
Accrued compensation and employee benefit costs		$5,868		$6,158
Environmental	601		649
Product warranties	1,504		1,570
Forward loss recognition	414		360
Dividends payable	637		542
Other	4,319		4,852
Total		$13,343		$14,131

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Environmental

The following table summarizes environmental remediation activity during the years ended December 31, 2014 and 2013.

	2014			2013
Beginning balance – January 1		$649			$710
Reductions for payments made	(89		)	(120		)
Changes in estimates	41			59
Ending balance – December 31		$601			$649

The liabilities recorded represent our best estimate or the low end of a range of reasonably possible costs expected to be incurred to remediate sites, including operation and maintenance over periods of up to 30 years. It is reasonably possible that we may incur charges that exceed these recorded amounts because of regulatory agency orders and directives, changes in laws and/or regulations, higher than expected costs and/or the discovery of new or additional contamination. As part of our estimating process, we develop a range of reasonably possible alternate scenarios that includes the high end of a range of reasonably possible cost estimates for all remediation sites for which we have sufficient information based on our experience and existing laws and regulations. There are some potential remediation obligations where the costs of remediation cannot be reasonably estimated. At December 31, 2014 and 2013, the high end of the estimated range of reasonably possible remediation costs exceeded our recorded liabilities by $874 and $928.

Product Warranties

The following table summarizes product warranty activity recorded during the years ended December 31, 2014 and 2013.

	2014			2013
Beginning balance – January 1		$1,570			$1,572
Additions for current year deliveries	566			595
Reductions for payments made	(432		)	(419		)
Changes in estimates	(200		)	(178		)
Ending balance - December 31		$1,504			$1,570

Commercial Aircraft Commitments

In conjunction with signing definitive agreements for the sale of new aircraft (Sale Aircraft), we have entered into trade-in commitments with certain customers that give them the right to trade in used aircraft at a specified price upon the purchase of Sale Aircraft. The probability that trade-in commitments will be exercised is determined by using both quantitative information from valuation sources and qualitative information from other sources. The probability of exercise is assessed quarterly, or as events trigger a change, and takes into consideration the current economic and airline industry environments. Trade-in commitments, which can be terminated by mutual consent with the customer, may be exercised only during the period specified in the agreement, and require advance notice by the customer.

Trade-in commitment agreements at December 31, 2014 have expiration dates from 2015 through 2026. At December 31, 2014 and 2013, total contractual trade-in commitments were $2,392 and $1,605. As of December 31, 2014 and 2013, we estimated that it was probable we would be obligated to perform on certain of these commitments with net amounts payable to customers totaling $446 and $325 and the fair value of the related trade-in aircraft was $446 and $325.

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Financing Commitments

Financing commitments related to aircraft on order, including options and those proposed in sales campaigns, totaled $16,723 and $17,987 as of December 31, 2014 and 2013. The estimated earliest potential funding dates for these commitments as of December 31, 2014 are as follows:

	Total
2015		$2,552
2016	3,710
2017	3,497
2018	2,305
2019	1,738
Thereafter	2,921
		$16,723

As of December 31, 2014 all of these financing commitments related to customers we believe have less than investment-grade credit. We have concluded that no reserve for future potential losses is required for these financing commitments based upon the terms, such as collateralization and interest rates, under which funding would be provided.

Standby Letters of Credit and Surety Bonds

We have entered into standby letters of credit and surety bonds with financial institutions primarily relating to the guarantee of our future performance on certain contracts. Contingent liabilities on outstanding letters of credit agreements and surety bonds aggregated approximately $3,985 and $4,376 as of December 31, 2014 and 2013.

Commitments to ULA

We and Lockheed Martin Corporation have each committed to provide ULA with up to $527 of additional capital contributions in the event ULA does not have sufficient funds to make a required payment to us under an inventory supply agreement. See Note 6.

C-17

In September 2013, we decided to end production of C-17 aircraft in late 2015. In April 2014, we announced that we anticipate ending production approximately three months earlier based on our decision to produce three fewer aircraft in 2015 than previously planned. As a result, during the first quarter of 2014, BDS recorded $48 to write off inventory and accrue termination liabilities to suppliers. At December 31, 2014, our backlog included international orders for three C-17 aircraft that are scheduled for delivery in 2015 and we have active sales campaigns for the remaining seven unsold aircraft. We are currently incurring costs and have made commitments to suppliers related to these aircraft. We believe it is probable that we will recover costs related to the unsold aircraft from international customer orders. Should orders for the seven unsold aircraft not materialize or should we decide to discontinue production of unsold aircraft, we could incur further charges to write-down inventory and/or record termination liabilities. At December 31, 2014, we had approximately $1,091 of capitalized precontract costs and $385 of potential termination liabilities to suppliers associated with unsold aircraft.

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F/A-18

At December 31, 2014, our backlog included 68 F/A-18 aircraft under contract with the U.S. Navy. The Consolidated and Further Continuing Appropriations Act, 2015, funds 15 additional F/A-18 aircraft. The orders in backlog, combined with anticipated orders for the 15 aircraft currently funded, would complete production in 2017. The President’s Fiscal Year 2016 budget request submitted in February 2015 did not include funding for additional F/A-18 aircraft. We are continuing to work with our U.S. customer as well as international customers to secure additional orders. Should additional orders not materialize, it is reasonably possible that we will decide in the next twelve months to end production of the F/A-18 at a future date. We are still evaluating the full financial impact of a potential production shutdown, including any recovery that may be available from the U.S. government.

Company Owned Life Insurance

McDonnell Douglas Corporation insured its executives with Company Owned Life Insurance (COLI), which are life insurance policies with a cash surrender value. Although we do not use COLI currently, these obligations from the merger with McDonnell Douglas are still a commitment at this time. We have loans in place to cover costs paid or incurred to carry the underlying life insurance policies. As of December 31, 2014 and 2013, the cash surrender value was $466 and $451 and the total loans were $439 and $425. As we have the right to offset the loans against the cash surrender value of the policies, we present the net asset in Other assets on the Consolidated Statements of Financial Position as of December 31, 2014 and 2013.

United States Government Defense Environment Overview

U.S. government appropriation levels remain subject to significant uncertainty. In August 2011, the Budget Control Act (The Act) established limits on U.S. government discretionary spending, including a reduction of defense spending by approximately $490 billion between the 2012 and 2021 U.S. government fiscal years. The Act also provided that the defense budget would face “sequestration” cuts of up to an additional $500 billion during that same period to the extent that discretionary spending limits are exceeded. While the impact of sequestration cuts was reduced with respect to FY2014 and FY2015 following the enactment of The Bipartisan Budget Act in December 2013, significant uncertainty remains with respect to overall levels of defense spending. It is likely that U.S. government discretionary spending levels for FY2016 and beyond will continue to be subject to significant pressure, including risk of future sequestration cuts.

Significant uncertainty also continues with respect to program-level appropriations for the U.S. Department of Defense (U.S. DoD) and other government agencies, including the National Aeronautics and Space Administration, within the overall budgetary framework described above. Future budget cuts, including cuts mandated by sequestration, or future procurement decisions associated with the authorization and appropriations process could result in reductions, cancellations and/or delays of existing contracts or programs. Any of these impacts could have a material effect on the results of the Company’s operations, financial position and/or cash flows.

In addition to the risks described above, if Congress is unable to pass appropriations bills in a timely manner, a government shutdown could result which could have impacts above and beyond those resulting from budget cuts or sequestration impacts. For example, requirements to furlough employees in the U.S. DoD or other government agencies could result in payment delays, impair our ability to perform work on existing contracts, and/or negatively impact future orders.

KC-46A Tanker and BDS Fixed-Price Development Contracts

Fixed-price development work is inherently uncertain and subject to significant variability in estimates of the cost and time required to complete the work. BDS fixed-price contracts with significant development

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work include Airborne Early Warning and Control, Commercial Crew, India P-8I, Saudi F-15, USAF KC-46A Tanker and commercial and military satellites. The operational and technical complexities of these contracts create financial risk, which could trigger termination provisions, order cancellations or other financially significant exposure. Changes to cost and revenue estimates could result in lower margins or material charges for reach-forward losses. For example, during the second quarter of 2014, higher estimated costs to complete the KC-46A Tanker contract for the U.S. Air Force resulted in a reach-forward loss of $425 of which the Commercial Airplanes segment recorded $238 and the BMA segment recorded $187.

Recoverable Costs on Government Contracts

Our final incurred costs for each year are subject to audit and review for allowability by the U.S. government, which can result in payment demands related to costs they believe should be disallowed. We work with the U.S. government to assess the merits of claims and where appropriate reserve for amounts disputed. If we are unable to satisfactorily resolve disputed costs, we could be required to record an earnings charge and/or provide refunds to the U.S. government.

Russia/Ukraine

We continue to monitor political unrest involving Russia and Ukraine, where we and some of our suppliers source titanium products and/or have operations. A number of our commercial customers also have operations in Russia and Ukraine. To date, we have not experienced any significant disruptions to production or deliveries. Should suppliers or customers experience disruption, our production and/or deliveries could be materially impacted.

747 and 787 Commercial Airplane Programs

The development and initial production of new commercial airplanes and new commercial airplane derivatives, which include the 747 and 787, entail significant commitments to customers and suppliers as well as substantial investments in working capital, infrastructure and research and development. The 747 and 787 programs had gross margins that were breakeven or near breakeven during 2014.

Lower-than-expected demand for large commercial passenger and freighter aircraft have resulted in ongoing pricing pressures and fewer 747 orders than anticipated. We continue to have a number of unsold 747 production positions. If market, production and other risks cannot be mitigated, the program could face a reach-forward loss that may be material.

The combination of production challenges, change incorporation, schedule delays and customer and supplier impacts has created significant pressure on 787 program profitability. If risks related to this program, including risks associated with planned production rate increases or introducing and manufacturing the 787-10 derivative as scheduled cannot be mitigated, the program could face additional customer claims and/or supplier assertions, as well as a reach-forward loss that may be material.

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Note 12 – Arrangements with Off-Balance Sheet Risk

We enter into arrangements with off-balance sheet risk in the normal course of business, primarily in the form of guarantees.

The following table provides quantitative data regarding our third party guarantees. The maximum potential payments represent a “worst-case scenario,” and do not necessarily reflect amounts that we expect to pay. Estimated proceeds from collateral and recourse represent the anticipated values of assets we could liquidate or receive from other parties to offset our payments under guarantees. The carrying amount of liabilities represents the amount included in Accrued liabilities.

	Maximum Potential Payments				Estimated Proceeds from Collateral/ Recourse				Carrying Amount of Liabilities
December 31,	2014		2013		2014		2013		2014		2013
Contingent repurchase commitments		$1,375		$1,872		$1,364		$1,871		$5		$5
Indemnifications to ULA:
Contributed Delta program launch inventory	114		127
Contract pricing	261		261						7		7
Other Delta contracts	150		227								8
Other indemnifications	63		106						20		28
Credit guarantees	30		35		27		27		2		2

Contingent Repurchase Commitments The repurchase price specified in contingent repurchase commitments is generally lower than the expected fair value at the specified repurchase date. Estimated proceeds from collateral/recourse in the table above represent the lower of the contracted repurchase price or the expected fair value of each aircraft at the specified repurchase date.

Indemnifications to ULA In 2006, we agreed to indemnify ULA through December 31, 2020 against potential non-recoverability and non-allowability of $1,360 of Boeing Delta launch program inventory included in contributed assets plus $1,860 of inventory subject to an inventory supply agreement which ends on March 31, 2021. Since inception, ULA has consumed $1,246 of the $1,360 of inventory that was contributed by us and has yet to consume $114. ULA has made advance payments of $1,609 to us and we have recorded revenues and cost of sales of $1,287 under the inventory supply agreement through December 31, 2014.

We agreed to indemnify ULA against potential losses that ULA may incur in the event ULA is unable to obtain certain additional contract pricing from the U.S. Air Force (USAF) for four satellite missions. We believe ULA is entitled to additional contract pricing. In December 2008, ULA submitted a claim to the USAF to re-price the contract value for two satellite missions. In March 2009, the USAF issued a denial of that claim. In June 2009, ULA filed a notice of appeal, and in October 2009, ULA filed a complaint before the Armed Services Board of Contract Appeals (ASBCA) for a contract adjustment for the price of the two satellite missions. In September 2009, the USAF exercised its option for a third satellite mission. During the third quarter of 2010, ULA submitted a claim to the USAF to re-price the contract value of the third mission. The USAF did not exercise an option for a fourth mission prior to the expiration of the contract. In March 2011, ULA filed a notice of appeal before the ASBCA, seeking to re-price the third mission. On November 20, 2013, the ASBCA denied USAF motions for summary judgment against ULA in large part, leaving ULA’s claims against the USAF substantially intact. The hearing before the ASBCA concluded on December 20, 2013. The parties filed their final post-hearing briefs in May 2014. The ASBCA may now issue a decision at any time. If ULA is ultimately unsuccessful in obtaining additional pricing, we may be

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responsible for an indemnification payment up to $261 and may record up to $278 in pre-tax losses associated with the three missions.

Potential payments for Other Delta contracts include $85 related to deferred support costs. In June 2011, the Defense Contract Management Agency (DCMA) notified ULA that it had determined that $271 of deferred support costs are not recoverable under government contracts. In December 2011, the DCMA notified ULA of the potential non-recoverability of an additional $114 of deferred production costs. ULA and Boeing believe that all costs are recoverable and in November 2011, ULA filed a certified claim with the USAF for collection of deferred support and production costs. The USAF issued a final decision denying ULA’s certified claim in May 2012. On June 14, 2012, Boeing and ULA filed a suit in the Court of Federal Claims seeking recovery of the deferred support and production costs from the U.S. government. On November 9, 2012, the U.S. government filed an answer to our claim and asserted a counterclaim for credits that it alleges were offset by deferred support cost invoices. We believe that the U.S. government’s counterclaim is without merit, and have filed an answer challenging it on multiple grounds. The litigation is in the discovery phase and the Court has not yet set a trial date. If, contrary to our belief, it is determined that some or all of the deferred support or production costs are not recoverable, we could be required to record pre-tax losses and make indemnification payments to ULA for up to $317 of the costs questioned by the DCMA.

Other Indemnifications As part of the 2004 sale agreement with General Electric Capital Corporation related to the sale of BCC’s Commercial Financial Services business, BCC is involved in a loss sharing arrangement for losses on transferred portfolio assets, such as asset sales, provisions for loss or asset impairment charges offset by gains from asset sales. At December 31, 2014 and 2013, our maximum future cash exposure to losses associated with the loss sharing arrangement was $63 and $106 and our accrued liability under the loss sharing arrangement was $20 and $28.

In conjunction with our sales of Electron Dynamic Devices, Inc. and Rocketdyne Propulsion and Power businesses and our Commercial Airplanes facilities in Wichita, Kansas and Tulsa and McAlester, Oklahoma, we agreed to indemnify, for an indefinite period, the buyers for costs relating to pre-closing environmental conditions and certain other items. It is impossible to assess the potential number of future claims that may be asserted under these indemnifications, nor the amounts thereof (if any). As a result, we cannot estimate the maximum potential amount of future payments under these indemnities and therefore, no liability has been recorded. To the extent that claims have been made under these indemnities and/or are probable and reasonably estimable, liabilities associated with these indemnities are included in the environmental liability disclosure in Note 11.

Credit Guarantees We have issued credit guarantees, principally to facilitate the sale and/or financing of commercial aircraft. Under these arrangements, we are obligated to make payments to a guaranteed party in the event that lease or loan payments are not made by the original lessee or debtor or certain specified services are not performed. A substantial portion of these guarantees has been extended on behalf of original lessees or debtors with less than investment-grade credit. Our commercial aircraft credit guarantees are collateralized by the underlying commercial aircraft and certain other assets. Current outstanding credit guarantees expire within the next six years.

Industrial Revenue Bonds

Industrial Revenue Bonds (IRB) issued by the City of Wichita were used to finance the purchase and/or construction of real and personal property at our Wichita site. Tax benefits associated with IRBs include a ten-year property tax abatement and a sales tax exemption from the Kansas Department of Revenue. We record the property on our Consolidated Statements of Financial Position, along with a capital lease obligation to repay the proceeds of the IRB. We have also purchased the IRBs and therefore are the bondholders as well as the borrower/lessee of the property purchased with the IRB proceeds.

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The capital lease obligation and IRB asset are recorded net in the Consolidated Statements of Financial Position. As of December 31, 2014 and 2013, the assets and liabilities associated with the City of Wichita IRBs were $638 and $690.

Note 13 – Debt

On October 31, 2014, we issued $300 of fixed rate senior notes due October 30, 2021 with an annual interest rate of 2.35%, $300 of fixed rate senior notes due October 30, 2024 with an annual interest rate of 2.85%, and $250 of floating rate senior notes due October 30, 2017. Each series of fixed rate senior notes may be redeemed at our option at any time for a redemption price equal to the full principal amount plus any accrued and unpaid interest and a make-whole premium. The floating rate senior notes bear interest at an annual rate equal to three-month LIBOR plus 12.5 basis points, and are not redeemable prior to maturity. The notes are unsecured senior obligations and rank equally in right of payment with our existing and future unsecured and unsubordinated indebtedness. The net proceeds of the issuance, after deducting underwriting discounts, commissions and offering expenses, totaled $838, of which $544 were used to fund BCC.

Interest incurred, including amounts capitalized, was $504, $548 and $625 for the years ended December 31, 2014, 2013 and 2012, respectively. Interest expense recorded by BCC is reflected as Boeing Capital interest expense on our Consolidated Statements of Operations. Total Company interest payments were $511, $551 and $614 for the years ended December 31, 2014, 2013 and 2012, respectively.

We have $5,005 currently available under credit line agreements, of which $2,473 is a 364-day revolving credit facility expiring in November 2015 and $2,472 expires in November 2019 and $60 in November 2017. The 364-day credit facility has a one-year term out option which allows us to extend the maturity of any borrowings one year beyond the aforementioned expiration date. We continue to be in full compliance with all covenants contained in our debt or credit facility agreements.

Short-term debt and current portion of long-term debt at December 31 consisted of the following:

	2014		2013
Unsecured debt securities		$755		$1,370
Non-recourse debt and notes	38		32
Capital lease obligations	64		68
Other notes	72		93
Total		$929		$1,563

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Debt at December 31 consisted of the following:

	2014		2013
Unsecured debt securities
Variable rate: 3-month USD LIBOR plus 1 basis point due 2014				$150
Variable rate: 3-month USD LIBOR plus 12.5 basis points due 2017		$250
0.95% - 5.00% due through 2024	4,223		4,832
5.88% - 6.88% due through 2043	2,394		2,392
7.25% - 8.75% due through 2043	1,657		1,672
Non-recourse debt and notes
6.98% - 7.38% notes due through 2021	201		233
Capital lease obligations due through 2024	161		151
Other notes	184		205
Total debt		$9,070		$9,635

Total debt is attributable to:

	2014		2013
BCC		$2,412		$2,577
Other Boeing	6,658		7,058
Total debt		$9,070		$9,635

At December 31, 2014, $213 of debt (non-recourse debt, notes and capital lease obligations) was collateralized by customer financing assets totaling $362.

Scheduled principal payments for debt and minimum capital lease obligations for the next five years are as follows:

	2015		2016		2017		2018		2019
Scheduled principal payments		$937		$1,098		$331		$653		$1,235

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Note 14 – Postretirement Plans

The majority of our employees are earning benefits under defined benefit pension plans. In 2014, we announced changes to our retirement plans whereby nonunion and the majority of union employees currently participating in defined benefit pension plans will transition in 2016 to a company-funded defined contribution retirement savings plan.

We fund our major pension plans through trusts. Pension assets are placed in trust solely for the benefit of the plans’ participants, and are structured to maintain liquidity that is sufficient to pay benefit obligations as well as to keep pace over the long-term with the growth of obligations for future benefit payments.

We also have other postretirement benefits (OPB) other than pensions which consist principally of health care coverage for eligible retirees and qualifying dependents, and to a lesser extent, life insurance to certain groups of retirees. Retiree health care is provided principally until age 65 for approximately half those retirees who are eligible for health care coverage. Certain employee groups, including employees covered by most United Auto Workers bargaining agreements, are provided lifetime health care coverage.

The funded status of the plans is measured as the difference between the plan assets at fair value and the projected benefit obligation (PBO). We have recognized the aggregate of all overfunded plans in Other assets, and the aggregate of all underfunded plans in either Accrued retiree health care or Accrued pension plan liability, net. The portion of the amount by which the actuarial present value of benefits included in the PBO exceeds the fair value of plan assets, payable in the next 12 months, is reflected in Accrued liabilities. The components of net periodic benefit cost were as follows:

	Pension									Other Postretirement Benefits
Years ended December 31,	2014			2013			2012			2014			2013			2012
Service cost		$1,661			$1,886			$1,649			$129			$148			$146
Interest cost	3,058			2,906			3,005			289			263			313
Expected return on plan assets	(4,169		)	(3,874		)	(3,831		)	(8		)	(6		)	(7		)
Amortization of prior service costs	177			196			225			(144		)	(180		)	(197		)
Recognized net actuarial loss	1,020			2,231			1,937			8			95			119
Settlement/curtailment/other losses	461			104			25			1						(1		)
Net periodic benefit cost		$2,208			$3,449			$3,010			$275			$320			$373
Net periodic benefit cost included in Earnings from operations		$3,215			$3,036			$2,407			$287			$353			$543

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The following tables show changes in the benefit obligation, plan assets and funded status of both pensions and OPB for the years ended December 31, 2014 and 2013. Benefit obligation balances presented below reflect the PBO for our pension plans, and accumulated postretirement benefit obligations (APBO) for our OPB plans.

	Pension						Other Postretirement Benefits
	2014			2013			2014			2013
Change in benefit obligation
Beginning balance		$68,625			$75,895			$7,008			$7,981
Service cost	1,661			1,886			129			148
Interest cost	3,058			2,906			289			263
Plan participants’ contributions	6			8
Amendments	51			111			(43		)	4
Actuarial (gain)/loss	10,655			(9,205		)	334			(905		)
Settlement/curtailment/other	(2,518		)	(81		)	7			(57		)
Gross benefits paid	(3,126		)	(2,874		)	(449		)	(451		)
Subsidies							39			32
Exchange rate adjustment	(21		)	(21		)	(8		)	(7		)
Ending balance		$78,391			$68,625			$7,306			$7,008
Change in plan assets
Beginning balance at fair value		$58,131			$56,178			$140			$110
Actual return on plan assets	5,893			3,316			10			23
Company contribution	784			1,542			8			14
Plan participants’ contributions	6			8			2			3
Settlement/curtailment/other	(640		)	(103		)				11
Benefits paid	(3,039		)	(2,792		)	(19		)	(21		)
Exchange rate adjustment	(16		)	(18		)
Ending balance at fair value		$61,119			$58,131			$141			$140
Amounts recognized in statement of financial position at December 31 consist of:
Other assets		$3			$60
Other accrued liabilities	(93		)	(80		)		($363	)		($340	)
Accrued retiree health care							(6,802		)	(6,528		)
Accrued pension plan liability, net	(17,182		)	(10,474		)
Net amount recognized		($17,272	)		($10,494	)		($7,165	)		($6,868	)

Amounts recognized in Accumulated other comprehensive loss at December 31 were as follows:

	Pension				Other Postretirement Benefits
	2014		2013		2014			2013
Net actuarial loss		$21,321		$15,460		$877			$561
Prior service costs/(credits)	385		788		(512		)	(614		)
Total recognized in Accumulated other comprehensive loss		$21,706		$16,248		$365			($53	)

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The estimated amount that will be amortized from Accumulated other comprehensive loss into net periodic benefit cost during the year ended December 31, 2015 is as follows:

	Pension		Other Postretirement Benefits
Recognized net actuarial loss		$1,581		$27
Amortization of prior service costs/(credits)	193		(134		)
Total		$1,774		($107	)

The ABO for all pension plans was $75,655 and $63,491 at December 31, 2014 and 2013. Key information for our plans with ABO in excess of plan assets as of December 31 was as follows:

	2014		2013
Projected benefit obligation		$78,358		$63,445
Accumulated benefit obligation	75,622		58,334
Fair value of plan assets	61,082		52,905

Assumptions

The following assumptions, which are the weighted average for all plans, are used to calculate the benefit obligation at December 31 of each year and the net periodic benefit cost for the subsequent year.

December 31,	2014		2013		2012
Discount rate:
Pension	3.90	%	4.80	%	3.80	%
Other postretirement benefits	3.50	%	4.20	%	3.30	%
Expected return on plan assets	7.00	%	7.50	%	7.50	%
Rate of compensation increase	3.80	%	4.00	%	4.00	%

The discount rate for each plan is determined based on the plans’ expected future benefit payments using a yield curve developed from high quality bonds that are rated as Aa or better by at least half of the four rating agencies utilized as of the measurement date. The yield curve is fitted to yields developed from bonds at various maturity points. Bonds with the ten percent highest and the ten percent lowest yields are omitted. A portfolio of about 400 bonds is used to construct the yield curve. Since corporate bond yields are generally not available at maturities beyond 30 years, it is assumed that spot rates will remain level beyond that 30-year point. The present value of each plan’s benefits is calculated by applying the spot/discount rates to projected benefit cash flows. All bonds are U.S. issues, with a minimum outstanding of $50.

The pension fund’s expected return on plan assets assumption is derived from a review of actual historical returns achieved by the pension trust and anticipated future long-term performance of individual asset classes. While consideration is given to recent trust performance and historical returns, the assumption represents a long-term, prospective return. The expected return on plan assets component of the net periodic benefit cost for the upcoming plan year is determined based on the expected return on plan assets assumption and the market-related value of plan assets (MRVA). Since our adoption of the accounting standard for pensions in 1987, we have determined the MRVA based on a five-year moving average of plan assets. As of December 31, 2014, the MRVA was approximately $1,813 less than the fair market value of assets.

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Assumed health care cost trend rates were as follows:

December 31,	2014		2013		2012
Health care cost trend rate assumed next year	7.00	%	7.00	%	7.50	%
Ultimate trend rate	5.00	%	5.00	%	5.00	%
Year that trend reached ultimate rate	2018		2018		2018

Assumed health care cost trend rates have a significant effect on the amounts reported for the health care plans. To determine the health care cost trend rates we look at a combination of information including ongoing claims cost monitoring, annual statistical analyses of claims data, reconciliation of forecast claims against actual claims, review of trend assumptions of other plan sponsors and national health trends, and adjustments for plan design changes, workforce changes, and changes in plan participant behavior. A one-percentage-point change in assumed health care cost trend rates would have the following effect:

	Increase		Decrease
Effect on total of service and interest cost		$54		($45	)
Effect on postretirement benefit obligation	736		(613		)

During 2014 the Company conducted a mortality experience study and adopted new company specific tables for purposes of determining the Company’s mortality assumption used in the defined benefit plan liability calculation. The new tables resulted in an increase of $2,500 and $200 to the projected benefit obligation for pension and other postretirement benefits, respectively as of December 31, 2014.

Plan Assets

Investment Strategy The overall objective of our pension assets is to earn a rate of return over time to satisfy the benefit obligations of the pension plans and to maintain sufficient liquidity to pay benefits and address other cash requirements of the pension fund. Specific investment objectives for our long-term investment strategy include reducing the volatility of pension assets relative to pension liabilities, achieving a competitive, total investment return, achieving diversification between and within asset classes and managing other risks. Investment objectives for each asset class are determined based on specific risks and investment opportunities identified.

We periodically update our long-term, strategic asset allocations. We use various analytics to determine the optimal asset mix and consider plan liability characteristics, liquidity characteristics, funding requirements, expected rates of return and the distribution of returns. We identify investment benchmarks for the asset classes in the strategic asset allocation that are market-based and investable where possible.

Actual allocations to each asset class vary from target allocations due to periodic investment strategy changes, market value fluctuations, the length of time it takes to fully implement investment allocation positions (such as private equity and real estate), and the timing of benefit payments and contributions. Short-term investments and exchange-traded derivatives are used to rebalance the actual asset allocation to the target asset allocation. The asset allocation is monitored and rebalanced on a monthly basis.

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The actual and target allocations by asset class for the pension assets at December 31 were as follows:

	Actual Allocations				Target Allocations
Asset Class	2014		2013		2014		2013
Fixed income	48	%	49	%	47	%	47	%
Global equity	29		29		26		26
Private equity	5		5		6		6
Real estate and real assets	9		8		11		11
Global strategies	4		4		4		4
Hedge funds	5		5		6		6
Total	100	%	100	%	100	%	100	%

Fixed income securities are invested broadly and primarily in long duration instruments. Global equity securities are invested broadly in U.S. and non-U.S. companies, across various industries and market capitalizations.

Real estate and real assets include global private investments that may be held through an investment in a limited partnership (LP) or other fund structures and publicly traded investments (such as Real Estate Investment Trusts (REIT) in the case of real estate). Real estate includes, but is not limited to, investments in office, retail, apartment and industrial properties. Real assets include, but are not limited to, investments in natural resources (such as energy, farmland and timber), commodities and infrastructure. Private equity investment vehicles are primarily limited partnerships (LPs) and fund-of-funds that mainly invest in U.S. and non-U.S. leveraged buyout, venture capital and special situation strategies.

Global strategies investments seek to capitalize on inefficiencies identified across different asset classes or markets, primarily using long-short positions in derivatives and physical securities. Hedge fund strategy types include, but are not limited to, event driven, relative value, long-short and multi-strategy.

Investment managers are retained for explicit investment roles specified by contractual investment guidelines. Certain investment managers are authorized to invest in derivatives, such as equity or bond futures, swaps, options and currency futures or forwards. Derivatives are used to achieve the desired market exposure of a security or an index, transfer value-added performance between asset classes, achieve the desired currency exposure, adjust portfolio duration or rebalance the total portfolio to the target asset allocation.

As a percentage of total pension plan assets, derivative net notional amounts were 3.5% and 18.3% for fixed income, including to-be-announced mortgage-backed securities and treasury forwards, and 2.0% and (2.2)% for global equity and commodities at December 31, 2014 and 2013.

Risk Management In managing the plan assets, we review and manage risk associated with funded status risk, interest rate risk, market risk, counterparty risk, liquidity risk and operational risk. Liability matching and asset class diversification are central to our risk management approach and are integral to the overall investment strategy. Further, asset classes are constructed to achieve diversification by investment strategy, by investment manager, by industry or sector and by holding. Investment manager guidelines for publicly traded assets are specified and are monitored regularly through the custodian. Credit parameters for counterparties have been established for managers permitted to trade over-the-counter derivatives. Valuation is governed through several types of procedures, including reviews of manager valuation policies, custodian valuation processes, pricing vendor practices, pricing reconciliation, and periodic, security-specific valuation testing.

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Fair Value Measurements The following table presents our plan assets using the fair value hierarchy as of December 31, 2014 and 2013. The fair value hierarchy has three levels based on the reliability of the inputs used to determine fair value. Level 1 refers to fair values determined based on quoted prices in active markets for identical assets. Level 2 refers to fair values estimated using significant other observable inputs, and Level 3 includes fair values estimated using significant unobservable inputs.

	December 31, 2014										December 31, 2013
	Total			Level 1		Level 2			Level 3		Total			Level 1		Level 2			Level 3
Fixed income securities:
Corporate		$17,488					$17,486			$2		$15,262					$15,238			$24
U.S. government and agencies	5,224					5,224					4,537					4,537
Mortgage backed and asset backed	1,207					596			611		1,040					491			549
Municipal	1,636					1,636					1,722					1,722
Sovereign	1,073					1,073					1,018					1,018
Common/collective/pooled funds	2,127				$18	2,109					2,538				$16	2,522
Other	498			9		237			252		484					229			255
Derivatives:
Assets	49					49					55					55
Liabilities	(66		)			(66		)			(10		)			(10		)
Cash equivalents and other short-term investments	792					792					801					801
Currency overlay derivatives:
Assets											2					2
Liabilities											(3		)			(3		)
Equity securities:
U.S. common and preferred stock	7,577			7,577							6,919			6,919
Non-U.S. common and preferred stock	7,151			7,139		11			1		7,722			7,721					1
Common/collective/pooled funds	2,658			46		2,443			169		3,239			564		2,675
Derivatives:
Assets	9					9					4					4
Liabilities	(5		)			(5		)			(6		)			(6		)
Private equity	2,955			28					2,927		2,968			10					2,958
Real estate and real assets:
Real estate	3,199			505		41			2,653		2,865			425		16			2,424
Real assets	1,567			370		433			764		1,506			336		464			706
Derivatives:
Assets	2					2					1					1
Liabilities	(11		)			(11		)			(1		)			(1		)
Global strategies	2,248					2,248					2,355					2,355
Hedge funds	3,372					2,411			961		2,776					1,667			1,109
Total		$60,750			$15,692		$36,718			$8,340		$57,794			$15,991		$33,777			$8,026
Cash		$115										$87
Receivables	447										458
Payables	(193		)								(208		)
Total		$61,119										$58,131

Fixed income securities are primarily valued upon a market approach, using matrix pricing and considering a security’s relationship to other securities for which quoted prices in an active market may be available,

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or an income approach, converting future cash flows to a single present value amount. Inputs used in developing fair value estimates include reported trades, broker quotes, benchmark yields, and base spreads.

Common/collective/pooled funds are typically common or collective trusts valued at their net asset values (NAVs) that are calculated by the investment manager or sponsor of the fund and have daily or monthly liquidity. Derivatives included in the table above are over-the-counter and are primarily valued using an income approach with inputs that include benchmark yields, swap curves, cash flow analysis, rating agency data and interdealer broker rates. Exchange-traded derivative positions are reported in accordance with changes in daily variation margin which is settled daily and therefore reflected in the payables and receivables portion of the table.

Cash equivalents and other short-term investments (which are used to pay benefits) are held in a separate account which consists of a commingled fund (with daily liquidity) and separately held short-term securities and cash equivalents. All of the investments in this cash vehicle are valued daily using a market approach with inputs that include quoted market prices for similar instruments. In the event a market price is not available for instruments with an original maturity of one year or less, amortized cost is used as a proxy for fair value. Common and preferred stock equity securities are primarily valued using a market approach based on the quoted market prices of identical instruments.

Private equity and private debt NAV valuations are based on the valuation of the underlying investments, which include inputs such as cost, operating results, discounted future cash flows and market based comparable data. For those investments reported on a one-quarter lagged basis (primarily LPs) we use NAVs, adjusted for subsequent cash flows and significant events.

Real estate and real asset NAV valuations are based on valuation of the underlying investments, which include inputs such as cost, discounted future cash flows, independent appraisals and market based comparable data. For those investments reported on a one-quarter lagged basis (primarily LPs) NAVs are adjusted for subsequent cash flows and significant events. Publicly traded REITs and infrastructure stocks are valued using a market approach based on quoted market prices of identical instruments. Exchange-traded commodities futures positions are reported in accordance with changes in daily variation margin which is settled daily and therefore reflected in the payables and receivables portion of the table.

Global strategies investments are primarily limited liability company (LLC) or mutual fund structures. The NAVs are based on valuation of the underlying investments, which are primarily valued using a market approach. The funds generally have monthly liquidity.

Hedge funds consist of fund-of-fund LLC structures and direct hedge funds. The NAVs of the fund-of-funds are based on the NAVs of the underlying hedge funds as well as any cash and accruals held at the fund-of-fund level. For direct hedge funds the NAVs are primarily based on valuation of the underlying investments. This is primarily done by applying a market or income valuation methodology depending on the specific type of security or instrument held. Redemptions in hedge funds are based on specific terms and conditions of the individual funds.

Investments in private equity, private debt, real estate, real assets, global strategies, and hedge funds are primarily calculated and reported by the General Partner (GP), fund manager or third party administrator. Pension assets invested in these structures rely on the NAV of these investments as the practical expedient for the valuations.

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The following tables present a reconciliation of Level 3 assets held during the year ended December 31, 2014 and 2013. Transfers into and out of Level 3 are reported at the beginning-of-year values.

	January 1 2014 Balance		Net Realized and Unrealized Gains/(Losses)			Net Purchases, Issuances and Settlements			Net Transfers Into/(Out of) Level 3			December 31 2014 Balance
Fixed income securities:
Corporate (1)		$19					($7	)		($10	)		$2
Mortgage backed and asset  backed(1)	554		14			10			33			611
Other	255		24			(27		)				252
Equity securities:
Non-U.S. common and preferred stock	1					(1		)	1			1
Common/collective/ pooled funds			(24		)	193						169
Private equity	2,958		415			(446		)				2,927
Real estate and real assets:
Real estate	2,424		336			(107		)				2,653
Real assets	706		32			26						764
Hedge funds	1,109		(36		)	61			(173		)	961
Total		$8,026		$761			($298	)		($149	)		$8,340

⁽¹⁾    Certain fixed income securities were reclassified from corporate to mortgage backed and asset backed on January 1, 2014.

For the year ended December 31, 2014, the change in unrealized gain for Level 3 assets still held at December 31, 2014 were $8 for mortgage and asset backed fixed income, $7 for other fixed income, ($24) for common/collective/pooled funds, ($3) for private equity, $198 for real estate, ($38) for real assets and ($48) for hedge funds.

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	January 1 2013 Balance		Net Realized and Unrealized Gains		Net Purchases, Issuances and Settlements			Net Transfers Into/(Out of) Level 3			December 31 2013 Balance
Fixed income securities:
Corporate		$3				$16			$5			$24
Mortgage backed and asset backed	561				(11		)	(1		)	549
Other (2)	245		37		(27		)				255
Equity securities:
Non-U.S. common and preferred stock								1			1
Private equity (2)	2,671		536		(249		)				2,958
Real estate and real assets:
Real estate	2,128		232		64						2,424
Real assets	664		78		(36		)				706
Hedge funds	1,473		183		(627		)	80			1,109
Total		$7,745		$1,066		($870	)		$85			$8,026

⁽²⁾    Certain private funds with a fixed income strategy were reclassified from private equity to other fixed income on January 1, 2013.

For the year ended December 31, 2013, the change in unrealized gain for Level 3 assets still held at December 31, 2013 were $21 for other fixed income, $422 for private equity, $243 for real estate, $71 for real assets and $283 for hedge funds.

OPB Plan Assets The majority of OPB plan assets are invested in a balanced index fund which is comprised of approximately 60% equities and 40% debt securities. The index fund is valued using a market approach based on the quoted market price of an identical instrument (Level 1). The expected rate of return on these assets does not have a material effect on the net periodic benefit cost.

Cash Flows

Contributions Required pension contributions under the Employee Retirement Income Security Act (ERISA), as well as rules governing funding of our non-U.S. pension plans, are expected to be minimal in 2015. We do not expect contributions to our pension and OPB plans to be significant in 2015.

Estimated Future Benefit Payments The table below reflects the total pension benefits expected to be paid from the plans or from our assets, including both our share of the benefit cost and the participants’ share of the cost, which is funded by participant contributions. OPB payments reflect our portion only.

Year(s)	2015			2016			2017			2018			2019			2020-2024
Pensions		$3,448			$3,657			$3,828			$3,960			$3,977			$21,515
Other postretirement benefits:
Gross benefits paid	465			495			518			558			578			2,974
Subsidies	(38		)	(38		)	(40		)	(41		)	(42		)	(211		)
Net other postretirement benefits		$427			$457			$478			$517			$536			$2,763

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Termination Provisions

Certain of the pension plans provide that, in the event there is a change in control of the Company which is not approved by the Board of Directors and the plans are terminated within five years thereafter, the assets in the plan first will be used to provide the level of retirement benefits required by ERISA, and then any surplus will be used to fund a trust to continue present and future payments under the postretirement medical and life insurance benefits in our group insurance benefit programs.

We have an agreement with the U.S. government with respect to certain pension plans. Under the agreement, should we terminate any of the plans under conditions in which the plan’s assets exceed that plan’s obligations, the U.S. government will be entitled to a fair allocation of any of the plan’s assets based on plan contributions that were reimbursed under U.S. government contracts.

Defined Contribution Plans

We provide certain defined contribution plans to all eligible employees. The principal plans are the Company-sponsored 401(k) plans. The expense for these defined contribution plans was $764, $742 and $708 in 2014, 2013 and 2012, respectively.

Note 15 – Share-Based Compensation and Other Compensation Arrangements

Share-Based Compensation

Our 2003 Incentive Stock Plan, as amended and restated, permits awards of incentive and non-qualified stock options, stock appreciation rights, restricted stock or units, performance shares, performance restricted stock or units, performance units and other stock and cash-based awards to our employees, officers, directors, consultants, and independent contractors. The aggregate number of shares of our stock authorized for issuance under the plan is 87,000,000.

Shares issued as a result of stock option exercises or conversion of stock unit awards will be funded out of treasury shares, except to the extent there are insufficient treasury shares, in which case new shares will be issued. We believe we currently have adequate treasury shares to satisfy these issuances during 2015.

Share-based plans expense is primarily included in General and administrative expense since it is incentive compensation issued primarily to our executives. The share-based plans expense and related income tax benefit were as follows:

Years ended December 31,	2014		2013		2012
Stock options		$62		$93		$85
Restricted stock units and other awards	133		113		108
Share-based plans expense		$195		$206		$193
Income tax benefit		$70		$76		$75

Stock Options

In February 2013 and 2012, we granted to our executives 6,591,968 and 6,114,922 options, respectively. The options have been granted with an exercise price equal to the fair market value of our stock on the date of grant and expire ten years after the date of grant. The stock options vest over a period of three years, with 34% vesting after the first year, 33% vesting after the second year and the remaining 33% vesting after the third year. If an executive terminates employment for any reason, the non-vested portion

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of the stock option will not vest and all rights to the non-vested portion will terminate. We discontinued granting options in 2014, replacing them with performance-based restricted stock units.

Stock option activity for the year ended December 31, 2014 is as follows:

	Shares	Weighted Average Exercise Price Per Share		Weighted Average Remaining Contractual Life (Years)	Aggregate Intrinsic Value
Number of shares under option:
Outstanding at beginning of year	23,767,743		$73.97
Granted	20,008	124.98
Exercised	(4,584,615)	74.82
Forfeited	(697,891)	75.70
Expired	(600)	50.57
Outstanding at end of year	18,504,645		$73.75	5.93		$1,041
Exercisable at end of year	13,215,966		$72.74	5.10		$757

The total intrinsic value of options exercised during the years ended December 31, 2014, 2013 and 2012 was $250, $546 and $89, respectively. Cash received from options exercised during the years ended December 31, 2014, 2013 and 2012 was $343, $1,097 and $120 with a related tax benefit of $87, $190 and $29, respectively, derived from the compensation deductions resulting from these option exercises. At December 31, 2014, there was $34 of total unrecognized compensation cost related to our stock option plan which is expected to be recognized over a weighted average period of one year. The grant date fair value of stock options vested during the years ended December 31, 2014, 2013 and 2012 was $87, $89 and $83, respectively.

The fair values of options were estimated using the Black-Scholes option-pricing model with the following assumptions:

Grant Year	Grant Date	Expected Life	Expected Volatility		Expected Dividend Yield		Risk Free Interest Rate		Weighted-Average Grant Date Fair Value Per Share
2013	2/25/2013	6 years	29.0	%	2.6	%	1.0	%		$15.85
2012	2/27/2012	6 years	29.9	%	2.4	%	1.1	%		$16.89

The expected volatility of the stock options is based on a combination of our historical stock volatility and the volatility levels implied on the grant date by actively traded option contracts on our common stock. We determined the expected term of the stock option grants to be six years, calculated using the “simplified” method in accordance with the SEC Staff Accounting Bulletin 110. We use the “simplified” method since we changed the vesting terms, tax treatment and the recipients of our stock options beginning in 2006 such that we believe our historical data prior to 2006 does not provide a reasonable basis upon which to estimate expected term and we do not have enough option exercise data from our grants issued subsequent to 2006 to support our own estimate as a result of vesting terms and changes in the stock price.

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Restricted Stock Units

In February 2014, 2013 and 2012, we granted to our executives 695,651, 1,375,414 and 1,369,810restricted stock units (RSUs) as part of our long-term incentive program with grant date fair values of $129.58, $75.97 and $75.40 per unit, respectively. The RSUs granted under this program will vest and settle in common stock (on a one-for-one basis) on the third anniversary of the grant date. If an executive terminates employment because of retirement, involuntary layoff, disability, or death, the employee (or beneficiary) will receive a proration of stock units based on active employment during the three-year service period. In all other cases, the RSUs will not vest and all rights to the stock units will terminate. In addition to RSUs awarded under our long-term incentive program, we grant RSUs to certain executives and employees to encourage retention or to reward various achievements. These RSUs are labeled other RSUs in the table below. The fair values of all RSUs are estimated using the average of the high and low stock prices on the date of grant.

RSU activity for the year ended December 31, 2014 was as follows:

	Long-Term Incentive Program			Other
Number of units:
Outstanding at beginning of year	3,722,317			1,132,930
Granted	729,603			288,600
Dividends	72,387			25,833
Forfeited	(177,986		)	(13,962		)
Distributed	(1,313,782		)	(286,303		)
Outstanding at end of year	3,032,539			1,147,098
Unrecognized compensation cost		$94			$41
Weighted average remaining contractual life (years)	1.7			2.3

The number of vested but undistributed RSUs at December 31, 2014 was not significant.

Performance-Based Restricted Stock Units

Performance-Based Restricted Stock Units (PBRSUs) are stock units that pay out based on the Company’s total shareholder return as compared to a group of peer companies over a three-year period. The award payout can range from 0% to 200% of the initial PBRSU grant, but will not exceed 400% of the initial value (excluding dividend equivalent credits). The PBRSUs granted under this program will vest at the payout amount and settle in common stock (on a one-for-one basis) on the third anniversary of the grant date. If an executive terminates employment because of retirement, involuntary layoff, disability, or death, the employee (or beneficiary) remains eligible under the award and, if the award is earned, will receive a proration of stock units based on active employment during the three-year service period. In all other cases, the PBRSUs will not vest and all rights to the stock units will terminate.

In February 2014, we granted to our executives 662,215 initial PBRSUs as part of our long-term incentive program with a grant date fair value of $136.12 per unit. Compensation expense for the award is recognized over the three-year performance period based upon the grant date fair value estimated using a Monte-Carlo simulation model. The model used the following assumptions: expected volatility of 24.2% based upon our historical stock volatility, a risk-free interest rate of 0.72%, and no expected dividend yield because the units earn dividend equivalents.

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PBRSU activity for the year ended December 31, 2014 was as follows:

	Long-Term Incentive Program
Number of units:
Outstanding at beginning of year
Granted	662,215
Dividends	10,497
Forfeited	(49,610		)
Distributed	0
Outstanding at end of year	623,102
Unrecognized compensation cost		$53
Weighted average remaining contractual life (years)	2.1

Other Compensation Arrangements

Performance Awards

Performance Awards are cash units that pay out based on the achievement of long-term financial goals at the end of a three-year period. Each unit has an initial value of $100 dollars. The amount payable at the end of the three-year performance period may be anywhere from $0 to $200 dollars per unit, depending on the Company’s performance against plan for a three-year period. The Compensation Committee has the discretion to pay these awards in cash, stock, or a combination of both after the three-year performance period. Compensation expense, based on the estimated performance payout, is recognized ratably over the performance period.

During 2014, 2013 and 2012, we granted Performance Awards to our executives with the payout based on the achievement of financial goals for each three-year period following the grant date. The minimum payout amount is $0 and the maximum amount we could be required to pay out for the 2014, 2013 and 2012 Performance Awards is $343, $261 and $251, respectively. The 2012 grant is expected to be paid out in cash in March 2015.

Deferred Compensation

The Company has a deferred compensation plan which permits executives to defer receipt of a portion of their salary, bonus, and certain other incentive awards. Participants can diversify deferred compensation among 23 investment funds including a Boeing stock unit account.

Total expense related to deferred compensation was $44, $238 and $75 in 2014, 2013 and 2012, respectively. As of December 31, 2014 and 2013, the deferred compensation liability which is being marked to market was $1,234 and $1,258.

Note 16 – Shareholders’ Equity

On December 15, 2014, the Board approved a new repurchase plan for up to $12,000 of common stock, replacing the previously authorized program. The program will expire when we have used all authorized funds or is otherwise terminated.

As of December 31, 2014 and 2013, there were 1,200,000,000 shares of common stock and 20,000,000 shares of preferred stock authorized. No preferred stock has been issued.

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Changes in Share Balances

The following table shows changes in each class of shares:

	Common Stock	Treasury Stock
Balance at January 1, 2012	1,012,261,159	267,556,388
Issued		(11,935,423	)
Acquired		1,009,663
Balance at December 31, 2012	1,012,261,159	256,630,628
Issued		(17,903,704	)
Acquired		26,155,537
Balance at December 31, 2013	1,012,261,159	264,882,461
Issued		(6,719,270	)
Acquired		47,370,415
Balance at December 31, 2014	1,012,261,159	305,533,606

Accumulated Other Comprehensive Loss

Changes in Accumulated other comprehensive income/(loss) (AOCI) by component for the years ended December 31, 2014, 2013 and 2012 were as follows:

	Currency Translation Adjustments			Unrealized Gains and Losses on Certain Investments			Unrealized Gains and Losses on Derivative Instruments			Defined Benefit Pension Plans & Other Postretirement Benefits				Total (1)
Balance at January 1, 2012		$197			($8	)		$66			($16,755	)			($16,500	)
Other comprehensive income/(loss) before reclassifications	17						25			(2,290		)		(2,248		)
Amounts reclassified from AOCI							(5		)	1,337			(2)	1,332
Net current period Other comprehensive loss	17						20			(953		)		(916		)
Balance at December 31, 2012		$214			($8	)		$86			($17,708	)			($17,416	)
Other comprehensive income/(loss) before reclassifications	(64		)				(75		)	6,093				5,954
Amounts reclassified from AOCI							(17		)	1,585			(2)	1,568
Net current period Other comprehensive income/(loss)	(64		)				(92		)	7,678				7,522
Balance at December 31, 2013		$150			($8	)		($6	)		($10,030	)			($9,894	)
Other comprehensive income/(loss) before reclassifications	(97		)				(137		)	(4,644		)		(4,878		)
Amounts reclassified from AOCI							7			862			(2)	869
Net current period Other comprehensive income/(loss)	(97		)				(130		)	(3,782		)		(4,009		)
Balance at December 31, 2014		$53			($8	)		($136	)		($13,812	)			($13,903	)

⁽¹⁾  Net of tax.

⁽²⁾  Primarily relates to amortization of actuarial losses for the years ended December 31, 2014, 2013, and 2012 totaling $661, $1,516, and $1,304 (net of tax of ($367), ($849), and ($752)), respectively. These are included in the net periodic pension cost of which a portion is allocated to production as inventoried costs. See Note 14.

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Note 17 – Derivative Financial Instruments

Cash Flow Hedges

Our cash flow hedges include foreign currency forward contracts, commodity swaps, and commodity purchase contracts. We use foreign currency forward contracts to manage currency risk associated with certain transactions, specifically forecasted sales and purchases made in foreign currencies. Our foreign currency contracts hedge forecasted transactions through 2019. We use commodity derivatives, such as swaps and fixed-price purchase commitments to hedge against potentially unfavorable price changes for items used in production. Our commodity contracts hedge forecasted transactions through 2017.

Fair Value Hedges

Interest rate swaps under which we agree to pay variable rates of interest are designated as fair value hedges of fixed-rate debt. The net change in fair value of the derivatives and the hedged items is reported in Boeing Capital interest expense.

Derivative Instruments Not Receiving Hedge Accounting Treatment

We also hold certain derivative instruments, primarily foreign currency forward contracts, for risk management purposes that are not receiving hedge accounting treatment.

Notional Amounts and Fair Values

The notional amounts and fair values of derivative instruments in the Consolidated Statements of Financial Position as of December 31 were as follows:

	Notional amounts(1)				Other assets						Accrued liabilities
	2014		2013		2014			2013			2014			2013
Derivatives designated as hedging instruments:
Foreign exchange contracts		$2,586		$2,524		$9			$122			($204	)		($64	)
Interest rate contracts	125		313		10			13
Commodity contracts	31		72		1			2			(24		)	(39		)
Derivatives not receiving hedge accounting treatment:
Foreign exchange contracts	319		259		21			12			(5		)	(35		)
Commodity contracts	3		9											(4		)
Total derivatives		$3,064		$3,177	41			149			(233		)	(142		)
Netting arrangements					(16		)	(63		)	16			63
Net recorded balance						$25			$86			($217	)		($79	)

⁽¹⁾  Notional amounts represent the gross contract/notional amount of the derivatives outstanding.

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Gains/(losses) associated with our cash flow and undesignated hedging transactions and their effect on Other comprehensive income/(loss) and Net earnings were as follows:

Years ended December 31,	2014			2013
Effective portion recognized in Other comprehensive income/(loss), net of taxes:
Foreign exchange contracts		($135	)		($76	)
Commodity contracts	(2		)	1
Effective portion reclassified out of Accumulated other comprehensive loss into earnings, net of taxes:
Foreign exchange contracts	6			37
Commodity contracts	(13		)	(20		)
Forward points recognized in Other income, net:
Foreign exchange contracts	28			34
Undesignated derivatives recognized in Other income, net:
Foreign exchange contracts	(7		)	17

Based on our portfolio of cash flow hedges, we expect to reclassify losses of $98 (pre-tax) out of Accumulated other comprehensive loss into earnings during the next 12 months. Ineffectiveness related to our hedges recognized in Other income was insignificant for the years ended December 31, 2014 and 2013.

We have derivative instruments with credit-risk-related contingent features. For foreign exchange contracts with original maturities of at least five years, our derivative counterparties could require settlement if we default on our five-year credit facility. For commodity contracts, our counterparties could require collateral posted in an amount determined by our credit ratings. The fair value of foreign exchange and commodity contracts that have credit-risk-related contingent features that are in a net liability position at December 31, 2014 was $20. At December 31, 2014, there was no collateral posted related to our derivatives.

Note 18 – Significant Group Concentrations of Risk

Credit Risk

Financial instruments involving potential credit risk are predominantly with commercial aircraft customers and the U.S. government. Of the $11,438 in gross accounts receivable and gross customer financing included in the Consolidated Statements of Financial Position as of December 31, 2014, $5,246 related predominantly to commercial aircraft customers ($1,664 of accounts receivable and $3,582 of customer financing) and $4,281 related to the U.S. government.

Of the $3,582 in gross customer financing, $2,429 related to customers we believe have less than investment-grade credit including American Airlines, Hawaiian Airlines, and United/Continental Airlines who were associated with 11%, 9% and 8%, respectively, of our financing portfolio. Financing for aircraft is collateralized by security in the related asset and in some instances security in other assets as well.

Other Risk

As of December 31, 2014, approximately 39% of our total workforce was represented by collective bargaining agreements, the majority of which expire after 2015.

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Note 19 – Fair Value Measurements

The following table presents our assets and liabilities that are measured at fair value on a recurring basis and are categorized using the fair value hierarchy. The fair value hierarchy has three levels based on the reliability of the inputs used to determine fair value. Level 1 refers to fair values determined based on quoted prices in active markets for identical assets. Level 2 refers to fair values estimated using significant other observable inputs and Level 3 includes fair values estimated using significant unobservable inputs.

	December 31, 2014									December 31, 2013
	Total			Level 1		Level 2			Level 3	Total			Level 1		Level 2			Level 3
Assets
Money market funds		$3,826			$3,826						$3,783			$3,783
Available-for-sale investments	7			7						8			6						$2
Derivatives	25						$25			86						$86
Total assets		$3,858			$3,833		$25				$3,877			$3,789		$86			$2
Liabilities
Derivatives		($217	)				($217	)			($79	)				($79	)
Total liabilities		($217	)				($217	)			($79	)				($79	)

Money market funds and available-for-sale equity securities are valued using a market approach based on the quoted market prices of identical instruments. Available-for-sale debt investments are primarily valued using an income approach based on benchmark yields, reported trades and broker/dealer quotes.

Derivatives include foreign currency, commodity and interest rate contracts. Our foreign currency forward contracts are valued using an income approach based on the present value of the forward rate less the contract rate multiplied by the notional amount. Commodity derivatives are valued using an income approach based on the present value of the commodity index prices less the contract rate multiplied by the notional amount. The fair value of our interest rate swaps is derived from a discounted cash flow analysis based on the terms of the contract and the interest rate curve.

Certain assets have been measured at fair value on a nonrecurring basis using significant unobservable inputs (Level 3). The following table presents the nonrecurring losses recognized for the years ended December 31 due to long-lived asset impairment, and the fair value and asset classification of the related assets as of the impairment date:

	2014					2013
	Fair Value		Total Losses			Fair Value		Total Losses
Operating lease equipment		$187		($170	)		$216		($81	)
Property, plant and equipment	19		(15		)	40		(15		)
Other assets and Acquired intangible assets			(17		)
Total		$206		($202	)		$256		($96	)

The fair value of the impaired operating lease equipment is derived by calculating a median collateral value from a consistent group of third party aircraft value publications. The values provided by the third party aircraft publications are derived from their knowledge of market trades and other market factors. Management reviews the publications quarterly to assess the continued appropriateness and consistency with market trends. Under certain circumstances, we adjust values based on the attributes and condition of the specific aircraft or equipment, usually when the features or use of the aircraft vary significantly from

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the more generic aircraft attributes covered by third party publications, or on the expected net sales price for the aircraft.

Property, plant and equipment, Other assets and Acquired intangible assets were primarily valued using an income approach based on the discounted cash flows associated with the underlying assets.

For Level 3 assets that were measured at fair value on a nonrecurring basis during the year ended December 31, 2014, the following table presents the fair value of those assets as of the measurement date, valuation techniques and related unobservable inputs of those assets.

	Fair Value	Valuation Technique(s)	Unobservable Input	Range Median or Average
Operating lease equipment	$187	Market approach	Aircraft value publications	$158 - $268(1) Median $238
			Aircraft condition adjustments	($58) - $7(2) Net ($51)

⁽¹⁾  The range represents the sum of the highest and lowest values for all aircraft subject to fair value measurement, according to the third party aircraft valuation publications that we use in our valuation process.

⁽²⁾  The negative amount represents the sum, for all aircraft subject to fair value measurement, of all downward adjustments based on consideration of individual aircraft attributes and condition. The positive amount represents the sum of all such upward adjustments.

Fair Value Disclosures

The fair values and related carrying values of financial instruments that are not required to be remeasured at fair value on the Consolidated Statements of Financial Position at December 31 were as follows:

	December 31, 2014
	Carrying Amount			Total Fair Value			Level 1	Level 2			Level 3
Assets
Accounts receivable, net		$7,729			$7,845				$7,845
Notes receivable, net	366			395				395
Liabilities
Debt, excluding capital lease obligations	(8,909		)	(10,686		)		(10,480		)		($206	)

	December 31, 2013
	Carrying Amount			Total Fair Value			Level 1	Level 2			Level 3
Assets
Accounts receivable, net		$6,546			$6,525				$6,525
Notes receivable, net	572			622				622
Liabilities
Debt, excluding capital lease obligations	(9,483		)	(10,897		)		(10,897		)

The fair value of Accounts receivable is based on current market rates for loans of the same risk and maturities. The fair values of our variable rate notes receivable that reprice frequently approximate their

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carrying amounts. The fair values of fixed rate notes receivable are estimated with discounted cash flow analysis using interest rates currently offered on loans with similar terms to borrowers of similar credit quality. The fair value of our debt that is traded in the secondary market is classified as Level 2 and is based on current market yields. For our debt that is not traded in the secondary market, the fair value is classified as Level 2 and is based on our indicative borrowing cost derived from dealer quotes or discounted cash flows. The fair values of our debt classified as Level 3 are based on discounted cash flow models using the implied yield from similar securities. With regard to other financial instruments with off-balance sheet risk, it is not practicable to estimate the fair value of our indemnifications and financing commitments because the amount and timing of those arrangements are uncertain. Items not included in the above disclosures include cash, restricted cash, time deposits and other deposits, commercial paper, money market funds, Accounts payable and long-term payables. The carrying values of those items, as reflected in the Consolidated Statements of Financial Position, approximate their fair value at December 31, 2014 and 2013. The fair value of assets and liabilities whose carrying value approximates fair value is determined using Level 2 inputs, with the exception of cash (Level 1).

Note 20 – Legal Proceedings

Various legal proceedings, claims and investigations related to products, contracts, employment and other matters are pending against us. Potentially material contingencies are discussed below.

We are subject to various U.S. government investigations, from which civil, criminal or administrative proceedings could result or have resulted in the past. Such proceedings involve or could involve claims by the government for fines, penalties, compensatory and treble damages, restitution and/or forfeitures. Under government regulations, a company, or one or more of its operating divisions or subdivisions, can also be suspended or debarred from government contracts, or lose its export privileges, based on the results of investigations. We believe, based upon current information, that the outcome of any such government disputes and investigations will not have a material effect on our financial position, results of operations, or cash flows, except as set forth below. Where it is reasonably possible that we will incur losses in excess of recorded amounts in connection with any of the matters set forth below, we will disclose either the amount or range of reasonably possible losses in excess of such amounts or, where no such amount or range can be reasonably estimated, the reasons why no such estimate can be made.

Employment, Labor and Benefits Litigation

In connection with the 2005 sale of the former Wichita facility to Spirit AeroSystems, Inc. (Spirit), on February 16, 2007, an action entitled Harkness et al. v. The Boeing Company et al. was filed in the U.S. District Court for the District of Kansas, alleging collective bargaining agreement breaches and ERISA violations in connection with alleged failures to provide benefits to certain former employees of the Wichita facility. During the second quarter of 2014, the plaintiffs and Boeing agreed to settle the matter, subject to a fairness hearing, which has not been scheduled. The settlement would apply to approximately 2,000 employees who were subsequently employed by Spirit. Spirit is obligated to indemnify Boeing for settlement of this matter, and we intend to pursue full indemnification from Spirit. During the fourth quarter of 2014, Boeing filed a complaint against Spirit in Delaware Superior Court seeking to enforce our rights to indemnification and to recover from Spirit amounts incurred by Boeing for pension and retiree medical obligations. We cannot reasonably estimate the range of loss, if any, that may result from this matter pending the outcome of the fairness hearing.

On October 13, 2006, we were named as a defendant in a lawsuit filed in the U.S. District Court for the Southern District of Illinois. Plaintiffs, seeking to represent a class of similarly situated participants and beneficiaries in The Boeing Company Voluntary Investment Plan (the VIP), alleged that fees and expenses incurred by the VIP were and are unreasonable and excessive, not incurred solely for the benefit of the VIP and its participants, and were undisclosed to participants. The plaintiffs further alleged that defendants breached their fiduciary duties in violation of §502(a)(2) of ERISA, and sought injunctive and equitable

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relief pursuant to §502(a)(3) of ERISA. Our motion for summary judgment was denied on December 30, 2014. We expect trial in this matter to begin during the second quarter of 2015. We cannot reasonably estimate the range of loss, if any, that may result from this matter given the current procedural status of the litigation.

Note 21 – Segment Information

We operate in five principal segments: Commercial Airplanes; Boeing Military Aircraft (BMA), Network & Space Systems (N&SS), and Global Services & Support (GS&S), collectively Defense, Space & Security; and Boeing Capital. All other activities fall within Unallocated items, eliminations and other. See page 53 for the Summary of Business Segment Data, which is an integral part of this note.

Effective during the first quarter of 2014, certain programs and contracts were realigned among BDS segments. The BMA Airborne Warning and Control Systems program, F-22 Modernization program and the Airborne Early Warning and Control Peace Eagle contract were realigned from BMA to GS&S. Beginning in the third quarter of 2014, amounts previously reported separately as Other segment and Unallocated items and eliminations are now presented on a combined basis to provide a more meaningful presentation. Segment data for 2013 and 2012 have been adjusted to reflect the changes.

The Commercial Airplanes segment develops, produces and markets commercial jet aircraft and provides related support services, principally to the commercial airline industry worldwide.

Our BMA segment is engaged in the research, development, production and modification of manned and unmanned military aircraft and weapons systems for global strike, including fighter aircraft and missile systems; vertical lift including rotorcraft and tilt-rotor aircraft; mobility, surveillance and engagement, including battle management, airborne, anti-submarine, transport and tanker aircraft.

Our N&SS segment is engaged in the research, development, production and modification of the following products and related services: electronics and information solutions, including command, control, communications, computers, intelligence, surveillance and reconnaissance (C4ISR), cyber and information solutions, and intelligence systems; strategic missile and defense systems; space and intelligence systems, including satellites and commercial satellite launch vehicles; and space exploration.

Our GS&S segment provides customers with mission readiness through total support solutions. Our global services business sustains aircraft and systems with a full spectrum of products and services through integrated logistics, including supply chain management and engineering support; maintenance, modification and upgrades for aircraft; and training systems and government services, including pilot and maintenance training. In addition, our GS&S segment is engaged in the research, development, production and modification of airborne surveillance command and control aircraft. GS&S international operations include Boeing Defence U.K. Ltd., Boeing Defence Australia, and Alsalam Aircraft Company, a joint venture.

Our BCC segment facilitates, arranges, structures and provides selective financing solutions for our Boeing customers.

The unallocated activities of Engineering, Operations & Technology (EO&T) and Shared Services Group (SSG), Corporate and intercompany guarantees provided to BCC are included in Unallocated items, eliminations and other. EO&T provides Boeing with technical and functional capabilities, including information technology, research and development, test and evaluation, technology strategy development, environmental remediation management and intellectual property management.

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While our principal operations are in the United States, Canada and Australia, some key suppliers and subcontractors are located in Europe and Japan. Revenues, including foreign military sales, are reported by customer location and consisted of the following:

Years ended December 31,	2014		2013		2012
Asia, other than China		$11,900		$12,200		$10,390
Europe	11,898		10,622		10,269
China	11,029		10,555		6,086
Middle East	9,243		9,165		10,285
Canada	1,901		1,486		586
Africa	2,596		621		1,282
Oceania	1,757		1,657		2,043
Latin America, Caribbean and other	2,596		2,725		3,555
Total non-U.S. revenues	52,920		49,031		44,496
United States	37,842		37,592		37,202
Total revenues		$90,762		$86,623		$81,698

Revenues from the U.S. government (including foreign military sales through the U.S. government), primarily recorded at BDS, represented 30%, 34% and 33% of consolidated revenues for 2014, 2013 and 2012, respectively. Approximately 3% of operating assets were located outside the United States as of December 31, 2014 and 2013. The information in the following tables is derived directly from the segments’ internal financial reporting used for corporate management purposes.

Depreciation and Amortization

Years ended December 31,	2014		2013		2012
Commercial Airplanes		$674		$632		$614
Defense, Space & Security:
Boeing Military Aircraft	164		131		120
Network & Space Systems	114		120		123
Global Services & Support	75		69		67
Total Defense, Space & Security	353		320		310
Boeing Capital Corporation	97		110		150
Unallocated items, eliminations and other	782		782		737
Total		$1,906		$1,844		$1,811

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Capital Expenditures

Years ended December 31,	2014		2013		2012
Commercial Airplanes		$698		$694		$665
Defense, Space & Security:
Boeing Military Aircraft	175		186		153
Network & Space Systems	93		96		115
Global Services & Support	68		48		57
Total Defense, Space & Security	336		330		325
Unallocated items, eliminations and other	1,202		1,074		713
Total		$2,236		$2,098		$1,703

Unallocated capital expenditures relate primarily to assets managed by SSG on behalf of the five principal segments.

We recorded Earnings from operations associated with our cost and equity method investments of $58, $25 and $77 in our Commercial Airplanes segment and $229, $203 and $196 in BDS, primarily in our N&SS segment, for the years ended December 31, 2014, 2013 and 2012, respectively.

For segment reporting purposes, we record Commercial Airplanes segment revenues and cost of sales for airplanes transferred to other segments. Such transfers may include airplanes accounted for as operating leases and considered transferred to the BCC segment and airplanes transferred to the BDS segment for further modification prior to delivery to the customer. The revenues and cost of sales for these transfers are eliminated in the Unallocated items and eliminations caption. For segment reporting purposes, we record BDS revenues and cost of sales for the modification performed on airplanes received from Commercial Airplanes when the airplane is delivered to the customer or at the attainment of performance milestones.

Intersegment revenues, eliminated in Unallocated items, eliminations and other, are shown in the following table.

Years ended December 31,	2014		2013		2012
Commercial Airplanes		$1,822		$879		$1,215
Boeing Capital	19		29		49
Total		$1,841		$908		$1,264

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Unallocated Items, Eliminations and other

Unallocated items, eliminations and other includes costs not attributable to business segments as well as intercompany profit eliminations. We generally allocate costs to business segments based on the U.S. federal cost accounting standards. Components of Unallocated items, eliminations and other are shown in the following table.

Years ended December 31,	2014			2013			2012
Share-based plans		($67	)		($95	)		($81	)
Deferred compensation	(44		)	(238		)	(75		)
Amortization of previously capitalized interest	(72		)	(69		)	(70		)
Eliminations and other unallocated items	(593		)	(859		)	(452		)
Sub-total	(776		)	(1,261		)	(678		)
Pension	(1,469		)	(1,374		)	(787		)
Postretirement	82			60			(112		)
Pension and Postretirement	(1,387		)	(1,314		)	(899		)
Total		($2,163	)		($2,575	)		($1,577	)

Unallocated Pension and Other Postretirement Benefit Expense

Unallocated pension and other postretirement benefit expense represents the portion of pension and other postretirement benefit costs that are not recognized by business segments for segment reporting purposes. Through 2012, the business segments have been allocated pension and other postretirement benefit costs using U.S. Government Cost Accounting Standards (CAS), which employ different actuarial assumptions and accounting conventions than Generally Accepted Accounting Principles in the United States of America (GAAP). Beginning in 2013, pension costs, comprising GAAP service and prior service costs, are allocated to Commercial Airplanes. BDS continues to be allocated CAS pension costs which are allocable to government contracts. Other postretirement benefit costs will continue to be allocated to business segments based on CAS, which is generally based on benefits paid. Prior year allocations have not been adjusted.

Assets

Segment assets are summarized in the table below.

December 31,	2014		2013
Commercial Airplanes		$55,149		$49,520
Defense, Space & Security:
Boeing Military Aircraft	7,232		5,872
Network & Space Systems	5,895		6,450
Global Services & Support	4,586		5,040
Total Defense, Space & Security	17,713		17,362
Boeing Capital	3,525		3,914
Unallocated items, eliminations and other	22,811		21,867
Total		$99,198		$92,663

Assets included in Unallocated items, eliminations and other primarily consist of Cash and cash equivalents, Short-term and other investments, Deferred tax assets, capitalized interest and assets held by SSG as well as intercompany eliminations.

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Note 22 – Quarterly Financial Data (Unaudited)

	2014												2013
	4th			3rd			2nd			1st			4th			3rd			2nd			1st
Total revenues		$24,468			$23,784			$22,045			$20,465			$23,785			$22,130			$21,815			$18,893
Total costs and expenses	(20,711		)	(20,075		)	(18,670		)	(17,296		)	(20,388		)	(18,674		)	(18,450		)	(15,756		)
Earnings from operations	2,025			2,119			1,787			1,542			1,515			1,803			1,716			1,528
Net earnings from continuing operations	1,466			1,362			1,653			965			1,233			1,160			1,087			1,106
Net (loss)/gain from disposal of discontinued operations																(2		)	1
Net earnings	1,466			1,362			1,653			965			1,233			1,158			1,088			1,106
Basic earnings per share from continuing operations	2.05			1.88			2.26			1.30			1.63			1.53			1.43			1.45
Basic earnings per share	2.05			1.88			2.26			1.30			1.63			1.53			1.43			1.45
Diluted earnings per share from continuing operations	2.02			1.86			2.24			1.28			1.61			1.51			1.41			1.44
Diluted earnings per share	2.02			1.86			2.24			1.28			1.61			1.51			1.41			1.44
Cash dividends declared per share	1.64						1.46						1.215						0.97
Common stock sales price per share:
High	135.78			130.58			138.39			144.57			142.00			120.38			104.15			86.84
Low	116.32			117.87			121.92			118.77			113.34			98.99			83.80			72.68
Quarter end	129.98			127.38			127.23			125.49			136.49			117.50			102.44			85.85

Gross profit is calculated as Total revenues minus Total costs and expenses. Total costs and expenses includes Cost of products, Cost of services and Boeing Capital interest expense.

In the fourth quarter of 2014, we recorded income tax benefits of $188 related to the reinstatement of the research tax credit for 2014. In the first quarter of 2013, we recorded tax benefits of $145 related to the retroactive reinstatement of the research tax credit for 2012.

During the second quarter of 2014, we recorded an incremental tax benefit of $265 that related to the application of a 2012 Federal Court of Claims decision. We also recorded tax benefits of $116 and $143 as a result of the 2007-2008 and 2009-2010 federal tax audit settlements. See Note 4.

During the second quarter of 2014, higher estimated costs to complete the KC-46A Tanker contract for the U.S. Air Force resulted in a reach-forward loss of $425.

We recorded charges related to defined benefit pension plan changes of $334 in the first quarter of 2014.

During the fourth quarter of 2013, we recorded a charge of $406 related to the A-12 aircraft litigation settlement.

We increased our quarterly dividend from $0.485 to $0.73 in December 2013 and to $0.91 in December 2014.

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REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

To the Board of Directors and Shareholders of

The Boeing Company

Chicago, Illinois

We have audited the accompanying consolidated statements of financial position of The Boeing Company and subsidiaries (the “Company”) as of December 31, 2014 and 2013, and the related consolidated statements of operations, comprehensive income, equity, and cash flows for each of the three years in the period ended December 31, 2014. The financial statements are the responsibility of the Company’s management. Our responsibility is to express an opinion on the financial statements based on our audits.

We conducted our audits in accordance with the standards of the Public Company Accounting Oversight Board (United States). Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audits provide a reasonable basis for our opinion.

In our opinion, such consolidated financial statements present fairly, in all material respects, the financial position of The Boeing Company and subsidiaries as of December 31, 2014 and 2013, and the results of their operations and their cash flows for each of the three years in the period ended December 31, 2014, in conformity with accounting principles generally accepted in the United States of America.

We have also audited, in accordance with the standards of the Public Company Accounting Oversight Board (United States), the Company’s internal control over financial reporting as of December 31, 2014, based on the criteria established in Internal Control – Integrated Framework (2013) issued by the Committee of Sponsoring Organizations of the Treadway Commission and our report dated February 12, 2015 expressed an unqualified opinion on the Company’s internal control over financial reporting.

/s/ Deloitte & Touche LLP

Chicago, Illinois

February 12, 2015

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REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

To the Board of Directors and Shareholders of

The Boeing Company

Chicago, Illinois

We have audited the internal control over financial reporting of The Boeing Company and subsidiaries (the “Company”) as of December 31, 2014, based on criteria established in Internal Control – Integrated Framework (2013) issued by the Committee of Sponsoring Organizations of the Treadway Commission. The Company’s management is responsible for maintaining effective internal control over financial reporting and for its assessment of the effectiveness of internal control over financial reporting, included in the accompanying Management’s Report on Internal Control Over Financial Reporting. Our responsibility is to express an opinion on the Company’s internal control over financial reporting based on our audit.

We conducted our audit in accordance with the standards of the Public Company Accounting Oversight Board (United States). Those standards require that we plan and perform the audit to obtain reasonable assurance about whether effective internal control over financial reporting was maintained in all material respects. Our audit included obtaining an understanding of internal control over financial reporting, assessing the risk that a material weakness exists, testing and evaluating the design and operating effectiveness of internal control based on the assessed risk, and performing such other procedures as we considered necessary in the circumstances. We believe that our audit provides a reasonable basis for our opinion.

A company’s internal control over financial reporting is a process designed by, or under the supervision of, the company’s principal executive and principal financial officers, or persons performing similar functions, and effected by the company’s board of directors, management, and other personnel to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles. A company’s internal control over financial reporting includes those policies and procedures that (1) pertain to the maintenance of records that, in reasonable detail, accurately and fairly reflect the transactions and dispositions of the assets of the company; (2) provide reasonable assurance that transactions are recorded as necessary to permit preparation of financial statements in accordance with generally accepted accounting principles, and that receipts and expenditures of the company are being made only in accordance with authorizations of management and directors of the company; and (3) provide reasonable assurance regarding prevention or timely detection of unauthorized acquisition, use, or disposition of the company’s assets that could have a material effect on the financial statements.

Because of the inherent limitations of internal control over financial reporting, including the possibility of collusion or improper management override of controls, material misstatements due to error or fraud may not be prevented or detected on a timely basis. Also, projections of any evaluation of the effectiveness of the internal control over financial reporting to future periods are subject to the risk that the controls may become inadequate because of changes in conditions, or that the degree of compliance with the policies or procedures may deteriorate.

In our opinion, the Company maintained, in all material respects, effective internal control over financial reporting as of December 31, 2014, based on the criteria established in Internal Control – Integrated Framework (2013) issued by the Committee of Sponsoring Organizations of the Treadway Commission.

We have also audited, in accordance with the standards of the Public Company Accounting Oversight Board (United States), the consolidated financial statements as of and for the year ended December 31, 2014 of the Company and our report dated February 12, 2015 expressed an unqualified opinion on those financial statements.

/s/ Deloitte & Touche LLP

Chicago, Illinois

February 12, 2015

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Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure

None.

Item 9A. Controls and Procedures

(a) Evaluation of Disclosure Controls and Procedures.

Our Chief Executive Officer and Chief Financial Officer have evaluated our disclosure controls and procedures as of December 31, 2014 and have concluded that these disclosure controls and procedures are effective to ensure that information required to be disclosed by us in the reports that we file or submit under the Securities Exchange Act of 1934 is recorded, processed, summarized and reported within the time periods specified in the Securities and Exchange Commission’s rules and forms and is accumulated and communicated to our management, including the Chief Executive Officer and Chief Financial Officer, as appropriate to allow timely decisions regarding required disclosure.

(b) Management’s Report on Internal Control Over Financial Reporting.

Our management is responsible for establishing and maintaining adequate internal control over financial reporting, as such term is defined in Exchange Act Rules 13a-15(f). Our management conducted an evaluation of the effectiveness of our internal control over financial reporting based on the framework in Internal Control – Integrated Framework (2013) issued by the Committee of Sponsoring Organizations of the Treadway Commission. Based on this evaluation under the framework in Internal Control – Integrated Framework, our management concluded that our internal control over financial reporting was effective as of December 31, 2014.

Our internal control over financial reporting as of December 31, 2014, has been audited by Deloitte & Touche LLP, an independent registered public accounting firm, as stated in their report which is included in Item 8 of this report and is incorporated by reference herein.

(c) Changes in Internal Controls Over Financial Reporting.

There were no changes in our internal control over financial reporting that occurred during the fourth quarter of 2014 that have materially affected or are reasonably likely to materially affect our internal control over financial reporting.

Item 9B. Other Information

None.

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Part III

Item 10. Directors, Executive Officers and Corporate Governance

Our executive officers and their ages as of February 12, 2015, are as follows:

Name	Age	Principal Occupation or Employment/Other Business Affiliations
Bertrand-Marc Allen	41	Effective February 15, 2015, Mr. Allen will serve as Senior Vice President, President of Boeing International. Mr. Allen previously served as President of Boeing Capital Corporation from March 2014 to February 2015, Corporate Vice President, Boeing International and Chairman and President of Boeing (China) Co., Ltd. from March 2011 to March 2014 and Vice President, Global Law Affairs from May 2007 to March 2011.
Christopher M. Chadwick	54	Executive Vice President, President and Chief Executive Officer of Boeing Defense, Space & Security since December 2013. Mr. Chadwick joined Boeing in 1982, and his previous positions include President of Boeing Military Aircraft from March 2009 to December 2013; President of Precise Engagement and Mobility Systems from February 2008 to February 2009; Vice President and General Manager, Global Strike Systems from January 2006 to January 2008; and Vice President of F/A-18 from January 2004 to December 2005.
Raymond L. Conner	59	Vice Chairman, President and Chief Executive Officer of Commercial Airplanes since December 2013. Mr. Conner joined Boeing in 1977, and his previous positions include Executive Vice President, President and Chief Executive Officer of Commercial Airplanes from June 2012 to December 2013; Senior Vice President of Sales and Customer Support of Commercial Airplanes from August 2011 to June 2012; Vice President and General Manager, Supply Chain Management and Operations of Commercial Airplanes from December 2008 to August 2011; Vice President of Sales, Commercial Airplanes from December 2007 to December 2008; and Vice President and General Manager of the 777 Program. Mr. Conner serves on the board of Johnson Controls, Inc.
Thomas J. Downey	50	Senior Vice President, Communications since January 2007. Mr. Downey joined Boeing in 1986, and his prior positions include Vice President, Corporate Communications; Vice President, Commercial Airplanes Communications; Corporate Vice President, Internal and Executive Communications; and General Manager of Communications and Community Relations for Military Aircraft and Missile Systems unit.
Shephard W. Hill	62	President, Boeing International since November 2007 and Senior Vice President, Business Development and Strategy since October 2009. Mr. Hill joined Boeing in 1996 when the Company acquired Rockwell’s aerospace and defense business where he held the position of Vice President, Aerospace Government Affairs and Marketing. His prior positions at Boeing include Senior Vice President, Business Development and Strategy and Vice President, Business Development at BDS. Effective February 15, 2015, Mr. Hill will cease to serve as President, Boeing International. He will remain a Senior Vice President of the Company until April 1, 2015, when he will retire from the Company.

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Name	Age	Principal Occupation or Employment/Other Business Affiliations
Timothy J. Keating	53	Senior Vice President, Government Operations since joining Boeing in June 2008. Mr. Keating served as Senior Vice President, Global Government Relations at Honeywell International Inc. from October 2002 to May 2008. Prior thereto, Mr. Keating was Chairman of the Board and Managing Partner of Timmons and Company (a Washington, D.C. lobbying firm).
J. Michael Luttig	60	Executive Vice President, General Counsel since April 2009. Mr. Luttig joined Boeing in May 2006 as Senior Vice President, General Counsel. From October 1991 to May 2006, he served on the United States Court of Appeals for the Fourth Circuit. Mr. Luttig previously served as Assistant Attorney General of the United States, Counselor to the Attorney General at the Department of Justice and Principal Deputy Assistant Attorney General at the Department of Justice and was associated with Davis Polk & Wardwell LLP. Mr. Luttig serves as Director, Franklin Templeton Mutual Funds.
W. James McNerney, Jr.	65	Chairman and Chief Executive Officer since July 2005. Mr. McNerney also served as President of The Boeing Company from July 2005 to December 2013. Mr. McNerney previously served as Chairman and Chief Executive Officer of 3M Company from January 2001 to June 2005. Beginning in 1982, he served in management positions at General Electric Company, his most recent being President and Chief Executive Officer of GE Aircraft Engines from 1997 to 2000. Mr. McNerney also serves on the boards of The Procter & Gamble Company and International Business Machines Corporation. He is Chair of President Obama's Export Council.
Dennis A. Muilenburg	51	Vice Chairman, President and Chief Operating Officer since December 2013. Mr. Muilenburg joined Boeing in 1985, and his previous positions include Executive Vice President, President and Chief Executive Officer of BDS from September 2009 to December 2013; President of Global Services & Support from February 2008 to August 2009; Vice President and General Manager of Combat Systems from May 2006 to February 2008; and Vice President and Program Manager for Future Combat Systems. Mr. Muilenburg serves on the board of Caterpillar Inc.
Anthony M. Parasida	58	Senior Vice President, Human Resources and Administration since April 2013. Mr. Parasida joined Boeing in 1978, and his previous positions include Senior Vice President from October 2012 to April 2013, President of Global Services & Support from September 2009 to October 2012; Vice President and General Manager of Surveillance and Engagement Systems from January 2006 to September 2009; Vice President of P-8; and Vice President of F/A-18.
Diana L. Sands	49	Senior Vice President, Office of Internal Governance since April 2014. Ms. Sands previously served as Vice President of Finance and Corporate Controller from February 2012 to April 2014 and Vice President of Investor Relations, Financial Planning & Analysis from February 2010 to February 2012. Prior to that, she held positions in Financial Planning and Analysis and in Corporate Treasury.

113

Name	Age	Principal Occupation or Employment/Other Business Affiliations
Gregory D. Smith	48	Executive Vice President, Chief Financial Officer since February 2012. Effective February 15, 2015, Mr. Smith will serve as Chief Financial Officer, Executive Vice President, Business Development and Strategy. Mr. Smith previously served as Vice President of Finance and Corporate Controller from February 2010 to February 2012 and Vice President of Financial Planning & Analysis from June 2008 to February 2010. From August 2004 until June 2008, he served as Vice President of Global Investor Relations at Raytheon Company. Prior to that, he held a number of positions at Boeing including CFO, Shared Services Group; Controller, Shared Services Group; Senior Director, Internal Audit; and leadership roles in supply chain, factory operations and program management.
John J. Tracy	60	Chief Technology Officer and Senior Vice President, Engineering, Operations & Technology since October 2006. Dr. Tracy joined Boeing in 1981, and his previous positions include Vice President of Engineering and Mission Assurance for BDS; Vice President of Structural Technologies, Prototyping, and Quality for Phantom Works; and General Manager of Engineering for Military Aircraft and Missiles.

Information relating to our directors and nominees will be included under the caption “Election of Directors” in the 2015 Proxy Statement for our Annual Shareholders Meeting scheduled to be held on April 27, 2015 and is incorporated by reference herein. The information required by Items 405, 407(d)(4) and 407(d)(5) of Regulation S-K will be included under the captions “Stock Ownership Information – Section 16(a) Beneficial Ownership Reporting Compliance” and “Board Committees” in the 2015 Proxy Statement, and that information is incorporated by reference herein.

Codes of Ethics. We have adopted (1) The Boeing Company Code of Ethical Business Conduct for the Board of Directors; (2) The Boeing Company Code of Conduct for Finance Employees which is applicable to our Chief Financial Officer (CFO), Controller and all finance employees; and (3) The Boeing Code of Conduct that applies to all employees, including our Chief Executive Officer (CEO), (collectively, the Codes of Conduct). The Codes of Conduct are posted on our website, www.boeing.com, and printed copies may be obtained, without charge, by contacting the Office of Internal Governance, The Boeing Company, 100 N. Riverside Plaza, Chicago, IL 60606. We intend to disclose promptly on our website any amendments to, or waivers of, the Codes of Conduct covering our CEO, CFO and/or Controller.

No family relationships exist among any of the executive officers, directors or director nominees.

Item 11. Executive Compensation

The information required by Item 402 of Regulation S-K will be included under the captions “Compensation Discussion and Analysis,” “Compensation of Executive Officers,” and “Compensation of Directors” in the 2015 Proxy Statement, and that information is incorporated by reference herein. The information required by Item 407(e)(4) and 407(e)(5) of Regulation S-K will be included under the captions “Compensation Committee Interlocks and Insider Participation” and “Compensation Committee Report” in the 2015 Proxy Statement, and that information is incorporated by reference herein.

114

Item 12. Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

The information required by Item 403 of Regulation S-K will be included under the caption “Stock Ownership Information” in the 2015 Proxy Statement, and that information is incorporated by reference herein.

Equity Compensation Plan Information

We currently maintain two equity compensation plans that provide for the issuance of common stock to officers and other employees, directors and consultants. Each of these compensation plans was approved by our shareholders. The following table sets forth information regarding outstanding options and shares available for future issuance under these plans as of December 31, 2014:

Plan Category	Number of shares to be issued upon exercise of outstanding options, warrants and rights	Weighted-average exercise price of outstanding options, warrants and rights		Number of securities remaining available for future issuance under equity compensation plans (excluding shares reflected in column (a))
	(a)	(b)		(c)
Equity compensation plans approved by shareholders
Stock options	18,504,645		$73.75
Deferred compensation	3,335,728
Other stock units(1)	5,425,841
Equity compensation plans not approved by shareholders	None	None		None
Total(2)	27,266,214		$73.75	18,091,102

⁽¹⁾   Includes 1,246,204shares issuable in respect of PBRSUs subject to the satisfaction of performance criteria and assumes payout at maximum levels.

⁽²⁾  Excludes the potential performance awards which the Compensation Committee has the discretion to pay in cash, stock or a combination of both after the three-year performance periods which end in 2014, 2015 and 2016.

For further information, see Note 15 to our Consolidated Financial Statements.

Item 13. Certain Relationships and Related Transactions, and Director Independence

The information required by Item 404 of Regulation S-K will be included under the caption “Related Person Transactions” in the 2015 Proxy Statement, and that information is incorporated by reference herein.

The information required by Item 407(a) of Regulation S-K will be included under the caption “Director Independence” in the 2015 Proxy Statement, and that information is incorporated by reference herein.

Item 14. Principal Accounting Fees and Services

The information required by this Item will be included under the caption “Principal Accountant Fees and Services” in the 2015 Proxy Statement, and that information is incorporated by reference herein.

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PART IV

Item 15. Exhibits, Financial Statement Schedules

(a) List of documents filed as part of this report:

1. Financial Statements

Our consolidated financial statements are as set forth under Item 8 of this report on Form 10-K.

2. Financial Statement Schedules

All schedules are omitted because they are not applicable, not required, or the information is included in the consolidated financial statements.

3. Exhibits

(3) Articles of Incorporation and By-Laws.

(i) Amended and Restated Certificate of Incorporation of The Boeing Company dated May 5, 2006 (Exhibit 3.1 to the Company’s Current Report on Form 8-K dated May 1, 2006).

(ii) By-Laws of The Boeing Company, as amended and restated December 16, 2013 (Exhibit 3.2 to the Company’s Current Report on Form 8-K dated December 16, 2013).

(10) Material Contracts.

Bank Credit Agreements

(i) 364-Day Credit Agreement, dated as of November 10, 2011, among The Boeing Company, the Lenders party thereto, Citigroup Global Markets Inc. and J.P. Morgan Securities LLC as joint lead arrangers and joint book managers, JPMorgan Chase Bank, N.A. as syndication agent and Citibank, N.A. as administrative agent (Exhibit 10.1 to the Company’s Current Report on Form 8-K dated November 10, 2011).

(ii) Amendment No. 1 dated as of October 9, 2014 to the 364-Day Credit Agreement, dated as of November 10, 2011, among The Boeing Company, the Lenders party thereto, Citigroup Global Markets Inc. and J.P. Morgan Securities LLC as joint lead arrangers and joint book managers, JPMorgan Chase Bank, N.A. as syndication agent and Citibank, N.A. as administrative agent (Exhibit 10.1 to the Company’s Current Report on Form 8-K dated October 14, 2014).

(iii) Five-Year Credit Agreement, dated as of November 10, 2011, among The Boeing Company, the Lenders party thereto, Citigroup Global Markets Inc. and J.P. Morgan Securities LLC as joint lead arrangers and joint book managers, JPMorgan Chase Bank, N.A. as syndication agent and Citibank, N.A. as administrative agent (Exhibit 10.2 to the Company’s Current Report on Form 8-K dated November 10, 2011).

(iv) Amendment No. 1 dated as of October 9, 2014 to the Five-Year Credit Agreement, dated as of November 10, 2011, among The Boeing Company, the Lenders party thereto, Citigroup Global Markets Inc. and J.P. Morgan Securities LLC as joint lead arrangers and joint book managers, JPMorgan Chase Bank, N.A. as syndication agent and Citibank, N.A. as administrative agent (Exhibit 10.2 to the Company’s Current Report on Form 8-K dated October 14, 2014).

116

Business Acquisition Agreements

(v) Joint Venture Master Agreement, dated as of May 2, 2005, by and among Lockheed Martin Corporation, The Boeing Company and United Launch Alliance, L.L.C. (Exhibit (10)(i) to the Company’s Form 10-Q for the quarter ended June 30, 2005).

(vi) Delta Inventory Supply Agreement, dated as of December 1, 2006, by and between United Launch Alliance, L.L.C. and The Boeing Company (Exhibit (10)(vi) to the Company’s Form 10-K for the year ended December 31, 2006).

Management Contracts and Compensatory Plans

(vii) Summary of Non-Employee Director Compensation (Exhibit 10(i) to the Company’s Form 10-Q for the quarter ended September 30, 2014).

(viii) Deferred Compensation Plan for Directors of The Boeing Company, as amended and restated effective January 1, 2008 (Exhibit 10.2 to the Company’s Current Report on Form 8-K dated October 28, 2007).

(ix) Deferred Compensation Plan for Employees of The Boeing Company, as amended and restated on January 1, 2008 (Exhibit 10.1 to the Company’s Current Report on Form 8-K dated October 28, 2007).

(x) Incentive Compensation Plan for Employees of The Boeing Company and Subsidiaries, as amended and restated January 1, 2008 (Exhibit 10.7 to the Company’s Current Report on Form 8-K dated October 28, 2007).

(xi) The Boeing Company Elected Officer Annual Incentive Plan, as amended and restated effective January 1, 2008 (Exhibit 10.6 to the Company’s Current Report on Form 8-K dated October 28, 2007).

(xii) The Boeing Company 1997 Incentive Stock Plan, as amended effective May 1, 2000 and further amended effective January 1, 2008 (Exhibit 10.5 to the Company’s Current Report on Form 8-K dated October 28, 2007).

(xiii) Amended and Restated Executive Employment Agreement with W. James McNerney, Jr. dated March 13, 2008 (Exhibit 10.1 to the Company’s Current Report on Form 8-K dated March 13, 2008).

(xiv) Amendment to Amended and Restated Executive Employment Agreement with W. James McNerney, Jr. dated as of May 6, 2014 (Exhibit 10.1 to the Company’s Current Report on Form 8-K dated May 6, 2014).

(xv) Supplemental Pension Agreement between The Boeing Company and J. Michael Luttig dated January 25, 2007, as amended on November 14, 2007 (Exhibit (10)(xxx) to the Company’s Form 10-K for the year ended December 31, 2007).

(xvi) Supplemental Benefit Plan for Employees of The Boeing Company, as amended and restated on August 25, 2014, effective March 1, 2014 (Exhibit 10(ii) to the Company’s Form 10-Q for the quarter ended September 30, 2014).

(xvii) Supplemental Executive Retirement Plan for Employees of The Boeing Company, as amended and restated as of March 1, 2014 (Exhibit 10.1 to the Company’s Current Report on Form 8-K dated March 5, 2014).

(xviii) The Boeing Company Executive Layoff Benefits Plan, as amended and restated effective January 1, 2010 (Exhibit (10)(xxix) to the Company’s Annual Report on Form 10-K for the year ended December 31, 2009).

(xix) The Boeing Company 2003 Incentive Stock Plan.

(a) Plan, as amended and restated effective April 28, 2014 (Exhibit 10.1 to the

117

Company’s Registration Statement on Form S-8 filed on May 7, 2014).

(b) Form of Non-Qualified Stock Option Grant Notice of Terms (Exhibit (10)(xvii)(b) to the Company’s Form 10-K for the year ended December 31, 2010).

(c) Form of Notice of Terms of Restricted Stock Units (Exhibit (10)(xvii)(c) to the Company’s Form 10-K for the year ended December 31, 2010).

(d) Form of Performance Award Notice (Exhibit (10)(xvii)(d) to the Company’s Form 10-K for the year ended December 31, 2010).

(e) Form of Notice of Terms of Restricted Stock Units dated February 27, 2012 (Exhibit 10.1 to the Company’s Current Report on Form 8-K dated February 27, 2012).

(f) Form of Notice of Terms of Restricted Stock Units dated December 17, 2012 (Exhibit 10.1 to the Company’s Current Report on Form 8-K dated December 17, 2012).

(g) Form of Notice of Terms of Restricted Stock Units dated February 25, 2013 (Exhibit (10)(xiv)(g) to the Company’s Form 10-K for the year ended December 31, 2013).

(h) Form of Notice of Terms of Restricted Stock Units dated February 24, 2014 (Exhibit 10.1 to the Company’s Current Report on Form 8-K dated February 24, 2014).

(i) Form of Notice of Terms of Performance-Based Restricted Stock Units (Exhibit 10.2 to the Company’s Current Report on Form 8-K dated February 24, 2014).

(12) Computation of Ratio of Earnings to Fixed Charges.

(14) Codes of Ethics.

(i) The Boeing Company Code of Ethical Business Conduct for Members of the Board of Directors (www.boeing.com/corp_gov/conduct_for_directors.pdf).

(ii) The Boeing Company Code of Conduct for Finance Employees (www.boeing.com/corp_gov/conduct_finance.html).

(iii) The Boeing Company Code of Conduct (www.boeing.com/corp_gov/conduct_employee.html).

(21) List of Company Subsidiaries.

(23) Consent of Independent Registered Public Accounting Firm.

(31) Section 302 Certifications.

(i) Certification of Chief Executive Officer pursuant to Section 302 of Sarbanes-Oxley Act of 2002.

(ii) Certification of Chief Financial Officer pursuant to Section 302 of Sarbanes-Oxley Act of 2002.

(32) Section 906 Certifications.

(i) Certification of Chief Executive Officer pursuant to Section 906 of Sarbanes-Oxley Act of 2002.

(ii) Certification of Chief Financial Officer pursuant to Section 906 of Sarbanes-Oxley Act of 2002.

118

(99) Additional Exhibits.

(i) Commercial Program Method of Accounting (Exhibit (99)(i) to the 1997 Form 10-K).

(101) Interactive Data Files.

(101.INS)	XBRL Instance Document
(101.SCH)	XBRL Taxonomy Extension Schema Document
(101.CAL)	XBRL Taxonomy Extension Calculation Linkbase Document
(101.DEF)	XBRL Taxonomy Extension Definition Linkbase Document
(101.LAB)	XBRL Taxonomy Extension Label Linkbase Document
(101.PRE)	XBRL Taxonomy Extension Presentation Linkbase Document

In accordance with Item 601(b)(4)(iii)(A) of Regulation S-K, copies of certain instruments defining the rights of holders of long-term debt of the Company are not filed herewith. Pursuant to this regulation, we hereby agree to furnish a copy of any such instrument to the SEC upon request.

119

Signatures

Pursuant to the requirements of Section 13 of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized, on February 12, 2015.

	THE BOEING COMPANY
	(Registrant)
By:	/s/ Robert E. Verbeck
	Robert E. Verbeck – Vice President of Finance and Corporate Controller

120

Pursuant to the requirements of the Securities Exchange Act of 1934, this report has been signed below by the following persons on behalf of the registrant and in the capacities indicated on February 12, 2015.

/s/ W. James McNerney, Jr.	/s/ Edmund P. Giambastiani, Jr.
W. James McNerney, Jr. – Chairman and Chief Executive Officer	Edmund P. Giambastiani, Jr. – Director
(Principal Executive Officer)
/s/ Gregory D. Smith	/s/ Lawrence W. Kellner
Gregory D. Smith – Executive Vice President and Chief Financial Officer	Lawrence W. Kellner – Director
(Principal Financial Officer)
/s/ Robert E. Verbeck	/s/ Edward M. Liddy
Robert E. Verbeck – Vice President of Finance and Corporate Controller	Edward M. Liddy – Director
(Principal Accounting Officer)
/s/ David L. Calhoun	/s/ Susan C. Schwab
David L. Calhoun – Director	Susan C. Schwab – Director
/s/ Arthur D. Collins, Jr.	/s/ Ronald A. Williams
Arthur D. Collins, Jr. – Director	Ronald A. Williams – Director
/s/ Linda Z. Cook	/s/ Mike S. Zafirovski
Linda Z. Cook – Director	Mike S. Zafirovski – Director
/s/ Kenneth M. Duberstein
Kenneth M. Duberstein – Director

121

EX-12

EXHIBIT 12

Computation of Ratio of Earnings to Fixed Charges

The Boeing Company and Subsidiaries

(Dollars in millions)

	Years ended December 31,
	2014		2013		2012		2011			2010
Earnings before income taxes	7,137		6,232		5,910		5,393			4,507
Fixed charges excluding capitalized interest	455		514		603		677			726
Amortization of previously capitalized interest	72		74		75		64			60
Net adjustment for earnings from affiliates	7		13		69		(38		)	(11		)
Earnings available for fixed charges		$7,671		$6,833		$6,657		$6,096			$5,282
Fixed charges:
Interest and debt expense(1)		$402		$461		$551		$626			$676
Interest capitalized during the period	102		87		74		57			48
Rentals deemed representative of an interest factor	53		53		52		51			50
Total fixed charges		$557		$601		$677		$734			$774
Ratio of earnings to fixed charges	13.8		11.4		9.8		8.3			6.8

⁽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 Operations.

EX-21

EXHIBIT 21

The Boeing Company Subsidiaries

Name	Place of Incorporation
Argon ST, Inc.	Delaware
Astro Limited	Bermuda
Aviall Services, Inc.	Delaware
Aviall UK, Inc.	Delaware
Aviall, Inc.	Delaware
BCC Cove Corporation	Delaware
BCC Equipment Leasing Corporation	Delaware
Boeing Aerospace Operations, Inc.	Delaware
Boeing Aerostructures Australia Pty Ltd.	Australia
Boeing Airborne Surveillance Enterprises, Inc.	Delaware
Boeing Aircraft Holding Company	Delaware
Boeing Australia Holdings Proprietary Limited	Australia
Boeing Canada Operations Ltd.	Canada
Boeing Capital Corporation	Delaware
Boeing Capital Loan Corporation	Delaware
Boeing CAS Holding GmbH	Germany
Boeing Commercial Space Company	Delaware
Boeing Defence Australia Ltd	Australia
Boeing Defence UK Limited	United Kingdom
Boeing Intellectual Property Licensing Company	Delaware
Boeing International B.V. & Co. Holding KGaA	Germany
Boeing International Logistics Spares, Inc.	Delaware
Boeing Logistics Spares, Inc.	Delaware
Boeing North American Space Alliance Company	Delaware
Boeing Operations International, Incorporated	Delaware
Boeing Satellite Systems International, Inc.	Delaware
Insitu, Inc.	Washington
Jeppesen GmbH	Germany
Jeppesen Sanderson, Inc.	Delaware

In accordance with Item 601(b)(21) of Regulation S-K, the company has omitted from this Exhibit the names of its subsidiaries which, considered in the aggregate or as a single subsidiary, do not constitute a significant subsidiary as defined in Rule 1-02(w) of Regulation S-X.

EX-23

EXHIBIT 23

CONSENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

We consent to the incorporation by reference in Registration Statement Nos. 33-25332, 33-31434, 33-43854, 33-58798, 33-52773, 333-16363, 333-26867, 333-32461, 333-32491, 333-32499, 333-32567, 333-41920, 333-54234, 333-73252, 333-107677, 333-140837, 333-156403, 333-160752, 333-163637 and 333-195777 on Form S-8 and Registration Statement No. 333-179808 on Form S-3 of our reports dated February 12, 2015, relating to the consolidated financial statements of The Boeing Company and subsidiaries (the “Company"), and the effectiveness of the Company’s internal control over financial reporting, appearing in this Annual Report on Form 10-K of the Company, for the year ended December 31, 2014.

/s/ Deloitte & Touche LLP

Chicago, Illinois

February 12, 2015

EX-31.1

EXHIBIT 31(i)

CERTIFICATION PURSUANT TO

RULE 13a-14 OF THE SECURITIES EXCHANGE ACT OF 1934,

AS ADOPTED PURSUANT TO

SECTION 302 OF THE SARBANES-OXLEY ACT OF 2002

I, W. James McNerney, Jr., certify that:

1. I have reviewed this annual report on Form 10-K of The Boeing Company;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4. The registrant’s other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

(a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

(b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

(c) Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

(d) Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

5. The registrant’s other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):

(a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and

(b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

Date: February 12, 2015

/s/ W. James McNerney, Jr.

W. James McNerney, Jr.

Chairman and Chief Executive Officer

EX-31.2

EXHIBIT 31(ii)

CERTIFICATION PURSUANT TO

RULE 13a-14 OF THE SECURITIES EXCHANGE ACT OF 1934,

AS ADOPTED PURSUANT TO

SECTION 302 OF THE SARBANES-OXLEY ACT OF 2002

I, Gregory D. Smith, certify that:

1. I have reviewed this annual report on Form 10-K of The Boeing Company;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4. The registrant’s other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

(a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

(b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

(c) Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

(d) Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

5. The registrant’s other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):

(a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and

(b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

Date: February 12, 2015

/s/ Gregory D. Smith

Gregory D. Smith

Executive Vice President and Chief Financial Officer

EX-32.1

EXHIBIT 32(i)

CERTIFICATION PURSUANT TO

18 U.S.C. SECTION 1350,

AS ADOPTED PURSUANT TO

SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

In connection with the Annual Report of The Boeing Company (the “Company”) on Form 10-K for the period ending December 31, 2014, as filed with the Securities and Exchange Commission on the date hereof (the “Report”), I, W. James McNerney, Jr., Chairman and Chief Executive Officer of the Company, certify, pursuant to 18 U.S.C. § 1350, as adopted pursuant to § 906 of the Sarbanes-Oxley Act of 2002, that:

(1) The Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934, as amended; and

(2) The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.

/s/ W. James McNerney, Jr.

W. James McNerney, Jr.

Chairman and Chief Executive Officer

February 12, 2015

EX-32.2

EXHIBIT 32(ii)

CERTIFICATION PURSUANT TO

18 U.S.C. SECTION 1350,

AS ADOPTED PURSUANT TO

SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

In connection with the Annual Report of The Boeing Company (the “Company”) on Form 10-K for the period ending December 31, 2014, as filed with the Securities and Exchange Commission on the date hereof (the “Report”), I, Gregory D. Smith, Executive Vice President and Chief Financial Officer of the Company, certify, pursuant to 18 U.S.C. § 1350, as adopted pursuant to § 906 of the Sarbanes-Oxley Act of 2002, that:

(1) The Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934, as amended; and

(2) The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.

/s/ Gregory D. Smith

Gregory D. Smith

Executive Vice President and Chief Financial Officer

February 12, 2015

XML

Earnings Per Share (Tables)

12 Months Ended

Dec. 31, 2014

Earnings Per Share [Abstract]

Schedule of Weighted Average Number of Shares

The elements used in the computation of basic and diluted earnings per share were as follows:

(In millions - except per share amounts)
Years ended December 31,	2014		2013		2012
Net earnings		$5,446		$4,585		$3,900
Less: earnings available to participating securities	6		7		8
Net earnings available to common shareholders		$5,440		$4,578		$3,892
Basic
Basic weighted average shares outstanding	728.9		760.8		758.0
Less: participating securities	1.3		1.9		2.3
Basic weighted average common shares outstanding	727.6		758.9		755.7
Diluted
Basic weighted average shares outstanding	728.9		760.8		758.0
Dilutive potential common shares(1)	9.1		8.7		5.8
Diluted weighted average shares outstanding	738.0		769.5		763.8
Less: participating securities	1.3		1.9		2.3
Diluted weighted average common shares outstanding	736.7		767.6		761.5
Net earnings per share:
Basic		$7.47		$6.03		$5.15
Diluted	7.38		5.96		5.11

⁽¹⁾  Diluted earnings per share includes any dilutive impact of stock options, restricted stock units, performance-based restricted stock units and performance awards.

Schedule Of Weighted Average Number Of Shares Outstanding Excluded From The Computation Of Diluted Earnings Per Share

The following table includes the number of shares that may be dilutive potential common shares in the future. These shares were not included in the computation of diluted earnings per share because the effect was either antidilutive or the performance condition was not met.

(Shares in millions)
Years ended December 31,	2014	2013	2012
Stock options		4.8	23.6
Performance awards	5.1	4.2	4.9
Performance-based restricted stock units	1.3

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Postretirement Plans (Schedule Of Actual Allocations For The Pension Assets And Target Allocations By Asset Class) (Details) (Pension Plans [Member])	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, actual plan asset allocations	100.00%	100.00%
Defined benefit plan, target plan asset allocations	100.00%	100.00%
Fixed Income Securities [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, actual plan asset allocations	48.00%	49.00%
Defined benefit plan, target plan asset allocations	47.00%	47.00%
Equity securities [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, actual plan asset allocations	29.00%	29.00%
Defined benefit plan, target plan asset allocations	26.00%	26.00%
Private Equity Funds [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, actual plan asset allocations	5.00%	5.00%
Defined benefit plan, target plan asset allocations	6.00%	6.00%
Real estate and real assets [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, actual plan asset allocations	9.00%	8.00%
Defined benefit plan, target plan asset allocations	11.00%	11.00%
Global Strategies [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, actual plan asset allocations	4.00%	4.00%
Defined benefit plan, target plan asset allocations	4.00%	4.00%
Hedge Funds [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, actual plan asset allocations	5.00%	5.00%
Defined benefit plan, target plan asset allocations	6.00%	6.00%

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Segment Information (Tables)

12 Months Ended

Dec. 31, 2014

Segment Reporting [Abstract]

Schedule of Revenue from External Customers Attributed to Foreign Countries by Geographic Area

Revenues, including foreign military sales, are reported by customer location and consisted of the following:

Years ended December 31,	2014		2013		2012
Asia, other than China		$11,900		$12,200		$10,390
Europe	11,898		10,622		10,269
China	11,029		10,555		6,086
Middle East	9,243		9,165		10,285
Canada	1,901		1,486		586
Africa	2,596		621		1,282
Oceania	1,757		1,657		2,043
Latin America, Caribbean and other	2,596		2,725		3,555
Total non-U.S. revenues	52,920		49,031		44,496
United States	37,842		37,592		37,202
Total revenues		$90,762		$86,623		$81,698

Schedule Of Depreciation And Amortization Expense By Segment

Depreciation and Amortization

Years ended December 31,	2014		2013		2012
Commercial Airplanes		$674		$632		$614
Defense, Space & Security:
Boeing Military Aircraft	164		131		120
Network & Space Systems	114		120		123
Global Services & Support	75		69		67
Total Defense, Space & Security	353		320		310
Boeing Capital Corporation	97		110		150
Unallocated items, eliminations and other	782		782		737
Total		$1,906		$1,844		$1,811

Schedule Of Capital Expenditures By Segment

Capital Expenditures

Years ended December 31,	2014		2013		2012
Commercial Airplanes		$698		$694		$665
Defense, Space & Security:
Boeing Military Aircraft	175		186		153
Network & Space Systems	93		96		115
Global Services & Support	68		48		57
Total Defense, Space & Security	336		330		325
Unallocated items, eliminations and other	1,202		1,074		713
Total		$2,236		$2,098		$1,703

Schedule Of Intersegment Revenues, Eliminated in Unallocated Items and Eliminations

Intersegment revenues, eliminated in Unallocated items, eliminations and other, are shown in the following table.

Years ended December 31,	2014		2013		2012
Commercial Airplanes		$1,822		$879		$1,215
Boeing Capital	19		29		49
Total		$1,841		$908		$1,264

Schedule Of Unallocated Items and Eliminations

Components of Unallocated items, eliminations and other are shown in the following table.

Years ended December 31,	2014			2013			2012
Share-based plans		($67	)		($95	)		($81	)
Deferred compensation	(44		)	(238		)	(75		)
Amortization of previously capitalized interest	(72		)	(69		)	(70		)
Eliminations and other unallocated items	(593		)	(859		)	(452		)
Sub-total	(776		)	(1,261		)	(678		)
Pension	(1,469		)	(1,374		)	(787		)
Postretirement	82			60			(112		)
Pension and Postretirement	(1,387		)	(1,314		)	(899		)
Total		($2,163	)		($2,575	)		($1,577	)

Reconciliation of Assets from Segment to Consolidated

Segment assets are summarized in the table below.

December 31,	2014		2013
Commercial Airplanes		$55,149		$49,520
Defense, Space & Security:
Boeing Military Aircraft	7,232		5,872
Network & Space Systems	5,895		6,450
Global Services & Support	4,586		5,040
Total Defense, Space & Security	17,713		17,362
Boeing Capital	3,525		3,914
Unallocated items, eliminations and other	22,811		21,867
Total		$99,198		$92,663

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Debt (Tables)

12 Months Ended

Dec. 31, 2014

Debt Disclosure [Abstract]

Schedule Of Short-Term Debt And Current Portion Of Long-Term Debt

Short-term debt and current portion of long-term debt at December 31 consisted of the following:

	2014		2013
Unsecured debt securities		$755		$1,370
Non-recourse debt and notes	38		32
Capital lease obligations	64		68
Other notes	72		93
Total		$929		$1,563

Schedule Of Debt

Debt at December 31 consisted of the following:

	2014		2013
Unsecured debt securities
Variable rate: 3-month USD LIBOR plus 1 basis point due 2014				$150
Variable rate: 3-month USD LIBOR plus 12.5 basis points due 2017		$250
0.95% - 5.00% due through 2024	4,223		4,832
5.88% - 6.88% due through 2043	2,394		2,392
7.25% - 8.75% due through 2043	1,657		1,672
Non-recourse debt and notes
6.98% - 7.38% notes due through 2021	201		233
Capital lease obligations due through 2024	161		151
Other notes	184		205
Total debt		$9,070		$9,635

Schedule of Long-term Debt Instruments [Table Text Block]

Total debt is attributable to:

	2014		2013
BCC		$2,412		$2,577
Other Boeing	6,658		7,058
Total debt		$9,070		$9,635

Scheduled Principal Payments For Debt And Capital Lease Obligations

Scheduled principal payments for debt and minimum capital lease obligations for the next five years are as follows:

	2015		2016		2017		2018		2019
Scheduled principal payments		$937		$1,098		$331		$653		$1,235

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Shareholders' Equity (Narrative) (Details) (USD $) In Millions, except Share data, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013	Dec. 15, 2014
Equity, Class of Treasury Stock [Line Items]
Common stock, authorized	1,200,000,000	1,200,000,000
Preferred shares, authorized	20,000,000	20,000,000
2014 Program [Member]
Equity, Class of Treasury Stock [Line Items]
Amount approved to repurchase, shares, maximum			$ 12,000

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Income Taxes (Schedule of Unrecognized Tax Benefits Roll Forward) (Details) (USD $) In Millions, unless otherwise specified	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]
Unrecognized tax benefits – January 1	$ 1,141	$ 1,055	$ 939
Gross increases – tax positions in prior periods	403	10	55
Gross decreases – tax positions in prior periods	(251)	(125)	(20)
Gross increases – current-period tax positions	217	202	83
Gross decreases – current-period tax positions		(1)	(1)
Settlements	(197)		(1)
Lapse of statute of limitations	(1)
Unrecognized tax benefits – December 31	$ 1,312	$ 1,141	$ 1,055

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Derivative Financial Instruments (Narrative) (Details) (USD $) In Millions, unless otherwise specified	12 Months Ended
	Dec. 31, 2014
Derivative [Line Items]
Cash flow hedge losses to be reclassified during the next 12 months, pre-tax	$ (98)
Fair value of foreign exchange and commodity contracts that have credit-risk-related contingent features that are in a net liability position	$ 20
Maximum [Member] | Foreign Exchange Contracts [Member]
Derivative [Line Items]
Derivative, Latest Maturity Date	Dec. 31, 2019
Maximum [Member] | Commodity Contracts [Member]
Derivative [Line Items]
Derivative, Latest Maturity Date	Dec. 31, 2017

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Quarterly Financial Data (Tables)

12 Months Ended

Dec. 31, 2014

Quarterly Financial Information Disclosure [Abstract]

Schedule Of Quarterly Financial Data

	2014												2013
	4th			3rd			2nd			1st			4th			3rd			2nd			1st
Total revenues		$24,468			$23,784			$22,045			$20,465			$23,785			$22,130			$21,815			$18,893
Total costs and expenses	(20,711		)	(20,075		)	(18,670		)	(17,296		)	(20,388		)	(18,674		)	(18,450		)	(15,756		)
Earnings from operations	2,025			2,119			1,787			1,542			1,515			1,803			1,716			1,528
Net earnings from continuing operations	1,466			1,362			1,653			965			1,233			1,160			1,087			1,106
Net (loss)/gain from disposal of discontinued operations																(2		)	1
Net earnings	1,466			1,362			1,653			965			1,233			1,158			1,088			1,106
Basic earnings per share from continuing operations	2.05			1.88			2.26			1.30			1.63			1.53			1.43			1.45
Basic earnings per share	2.05			1.88			2.26			1.30			1.63			1.53			1.43			1.45
Diluted earnings per share from continuing operations	2.02			1.86			2.24			1.28			1.61			1.51			1.41			1.44
Diluted earnings per share	2.02			1.86			2.24			1.28			1.61			1.51			1.41			1.44
Cash dividends declared per share	1.64						1.46						1.215						0.97
Common stock sales price per share:
High	135.78			130.58			138.39			144.57			142.00			120.38			104.15			86.84
Low	116.32			117.87			121.92			118.77			113.34			98.99			83.80			72.68
Quarter end	129.98			127.38			127.23			125.49			136.49			117.50			102.44			85.85

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Customer Financing (Components Of Investment In Sales-Type Or Finance Leases) (Details) (USD $) In Millions, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013
Customer Financing [Abstract]
Minimum lease payments receivable	$ 1,475	$ 1,731
Estimated residual value of leased assets	521	543
Unearned income	(461)	(575)
Total	$ 1,535	$ 1,699

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Postretirement Plans (Components Of Net Periodic Benefit Cost) (Details) (USD $) In Millions, unless otherwise specified	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Pension Plans [Member]
Defined Benefit Plan Disclosure [Line Items]
Service cost	$ 1,661	$ 1,886	$ 1,649
Interest cost	3,058	2,906	3,005
Expected return on plan assets	(4,169)	(3,874)	(3,831)
Amortization of prior service costs	177	196	225
Recognized net actuarial loss	1,020	2,231	1,937
Settlement/curtailment/other losses	461	104	25
Net periodic benefit cost	2,208	3,449	3,010
Net periodic benefit cost included in Earnings from operations	3,215	3,036	2,407
Other Postretirement Benefits Plans [Member]
Defined Benefit Plan Disclosure [Line Items]
Service cost	129	148	146
Interest cost	289	263	313
Expected return on plan assets	(8)	(6)	(7)
Amortization of prior service costs	(144)	(180)	(197)
Recognized net actuarial loss	8	95	119
Settlement/curtailment/other losses	1		(1)
Net periodic benefit cost	275	320	373
Net periodic benefit cost included in Earnings from operations	$ 287	$ 353	$ 543

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Liabilities, Commitments And Contingencies (Tables)

12 Months Ended

Dec. 31, 2014

Commitments and Contingencies Disclosure [Abstract]

Schedule of Accrued Liabilities

Accrued liabilities at December 31 consisted of the following:

	2014		2013
Accrued compensation and employee benefit costs		$5,868		$6,158
Environmental	601		649
Product warranties	1,504		1,570
Forward loss recognition	414		360
Dividends payable	637		542
Other	4,319		4,852
Total		$13,343		$14,131

Schedule Of Environmental Remediation Activity

The following table summarizes environmental remediation activity during the years ended December 31, 2014 and 2013.

	2014			2013
Beginning balance – January 1		$649			$710
Reductions for payments made	(89		)	(120		)
Changes in estimates	41			59
Ending balance – December 31		$601			$649

Schedule Of Product Warranty Activity

The following table summarizes product warranty activity recorded during the years ended December 31, 2014 and 2013.

	2014			2013
Beginning balance – January 1		$1,570			$1,572
Additions for current year deliveries	566			595
Reductions for payments made	(432		)	(419		)
Changes in estimates	(200		)	(178		)
Ending balance - December 31		$1,504			$1,570

Contractual Obligation, Fiscal Year Maturity Schedule

The estimated earliest potential funding dates for these commitments as of December 31, 2014 are as follows:

	Total
2015		$2,552
2016	3,710
2017	3,497
2018	2,305
2019	1,738
Thereafter	2,921
		$16,723

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Quarterly Financial Data

12 Months Ended

Dec. 31, 2014

Quarterly Financial Information Disclosure [Abstract]

Quarterly Financial Data (unaudited)

Quarterly Financial Data (Unaudited)

	2014												2013
	4th			3rd			2nd			1st			4th			3rd			2nd			1st
Total revenues		$24,468			$23,784			$22,045			$20,465			$23,785			$22,130			$21,815			$18,893
Total costs and expenses	(20,711		)	(20,075		)	(18,670		)	(17,296		)	(20,388		)	(18,674		)	(18,450		)	(15,756		)
Earnings from operations	2,025			2,119			1,787			1,542			1,515			1,803			1,716			1,528
Net earnings from continuing operations	1,466			1,362			1,653			965			1,233			1,160			1,087			1,106
Net (loss)/gain from disposal of discontinued operations																(2		)	1
Net earnings	1,466			1,362			1,653			965			1,233			1,158			1,088			1,106
Basic earnings per share from continuing operations	2.05			1.88			2.26			1.30			1.63			1.53			1.43			1.45
Basic earnings per share	2.05			1.88			2.26			1.30			1.63			1.53			1.43			1.45
Diluted earnings per share from continuing operations	2.02			1.86			2.24			1.28			1.61			1.51			1.41			1.44
Diluted earnings per share	2.02			1.86			2.24			1.28			1.61			1.51			1.41			1.44
Cash dividends declared per share	1.64						1.46						1.215						0.97
Common stock sales price per share:
High	135.78			130.58			138.39			144.57			142.00			120.38			104.15			86.84
Low	116.32			117.87			121.92			118.77			113.34			98.99			83.80			72.68
Quarter end	129.98			127.38			127.23			125.49			136.49			117.50			102.44			85.85

Gross profit is calculated as Total revenues minus Total costs and expenses. Total costs and expenses includes Cost of products, Cost of services and Boeing Capital interest expense.

In the fourth quarter of 2014, we recorded income tax benefits of $188 related to the reinstatement of the research tax credit for 2014. In the first quarter of 2013, we recorded tax benefits of $145 related to the retroactive reinstatement of the research tax credit for 2012.

During the second quarter of 2014, we recorded an incremental tax benefit of $265 that related to the application of a 2012 Federal Court of Claims decision. We also recorded tax benefits of $116 and $143 as a result of the 2007-2008 and 2009-2010 federal tax audit settlements. See Note 4.

During the second quarter of 2014, higher estimated costs to complete the KC-46A Tanker contract for the U.S. Air Force resulted in a reach-forward loss of $425.

We recorded charges related to defined benefit pension plan changes of $334 in the first quarter of 2014.

During the fourth quarter of 2013, we recorded a charge of $406 related to the A-12 aircraft litigation settlement.

We increased our quarterly dividend from $0.485 to $0.73 in December 2013 and to $0.91 in December 2014.

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Customer Financing (Financing Receivable Balances Evaluated For Impairment) (Details) (USD $) In Millions, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013
Customer Financing [Abstract]
Individually evaluated for impairment	$ 86	$ 95
Collectively evaluated for impairment	1,819	2,191
Total financing receivables	$ 1,905	$ 2,286

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Share-Based Compensation And Other Compensation Arrangements (Schedule Of Stock Option Activity) (Details) (USD $) In Millions, except Share data, unless otherwise specified	12 Months Ended
	Dec. 31, 2014
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward]
Shares, Outstanding at beginning of year	23,767,743
Shares, Granted	20,008
Shares, Exercised	(4,584,615)
Shares, Forfeited	(697,891)
Shares, Expired	(600)
Shares, Outstanding at end of year	18,504,645
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price [Roll Forward]
Weighted Average Exercise Price Per Share, Outstanding at beginning of year	$ 73.97
Weighted Average Exercise Price Per Share, Granted	$ 124.98
Weighted Average Exercise Price Per Share, Exercised	$ 74.82
Weighted Average Exercise Price Per Share, Forfeited	$ 75.70
Weighted Average Exercise Price Per Share, Expired	$ 50.57
Weighted Average Exercise Price Per Share, Outstanding at end of year	$ 73.75
Share-based Compensation Arrangement by Share-based Payment Award, Options, Additional Disclosures [Abstract]
Weighted Average Remaining Contractual Life (Years), Outstanding at end of year	5 years 11 months 4 days
Aggregate Intrinsic Value, Outstanding at end of year	$ 1,041
Shares, Exercisable at end of year	13,215,966
Weighted Average Exercise Price Per Share, Exercisable at end of year	$ 72.74
Weighted Average Remaining Contractual Life (Years), Exercisable at end of year	5 years 1 month 6 days
Aggregate Intrinsic Value, Exercisable at end of year	$ 757

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Significant Group Concentrations Of Risk (Details) (USD $) In Millions, unless otherwise specified	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013
Concentration Risk [Line Items]
Gross accounts receivable and gross customer financing	11,438
Gross customer financing	3,582	4,020
External Credit Rating, Non Investment Grade [Member]
Concentration Risk [Line Items]
Gross customer financing	2,429
Workforce Subject To Collective Bargaining Arrangements [Member]
Concentration Risk [Line Items]
Concentration Risk, Percentage	39.00%
Commercial Aircraft Customers [Member]
Concentration Risk [Line Items]
Gross accounts receivable and gross customer financing	5,246
Accounts Receivable, Gross, Current	1,664
Gross customer financing	3,582
U S Government Contracts [Member]
Concentration Risk [Line Items]
Accounts Receivable, Gross, Current	4,281	$ 3,604
American Airlines [Member] | Customer Financing [Member] | External Credit Rating, Non Investment Grade [Member]
Concentration Risk [Line Items]
Concentration Risk, Percentage	11.00%
Hawaiian Airlines [Member] | Customer Financing [Member] | External Credit Rating, Non Investment Grade [Member]
Concentration Risk [Line Items]
Concentration Risk, Percentage	9.00%
United Continental Airlines [Member] | Customer Financing [Member] | External Credit Rating, Non Investment Grade [Member]
Concentration Risk [Line Items]
Concentration Risk, Percentage	8.00%

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Segment Information (Schedule Of Revenue from External Customers Attributed to Foreign Countries by Geographic Area) (Details) (USD $) In Millions, unless otherwise specified	3 Months Ended								12 Months Ended
	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2013	Sep. 30, 2013	Jun. 30, 2013	Mar. 31, 2013	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues	$ 24,468	$ 23,784	$ 22,045	$ 20,465	$ 23,785	$ 22,130	$ 21,815	$ 18,893	$ 90,762	$ 86,623	$ 81,698
Non-U.S. [member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues									52,920	49,031	44,496
Asia, Other Than China [member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues									11,900	12,200	10,390
Europe [member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues									11,898	10,622	10,269
China [member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues									11,029	10,555	6,086
Middle East [member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues									9,243	9,165	10,285
Canada [member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues									1,901	1,486	586
Africa [member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues									2,596	621	1,282
Oceania [member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues									1,757	1,657	2,043
Latin America, Caribbean And Other [member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues									2,596	2,725	3,555
United States [member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues									$ 37,842	$ 37,592	$ 37,202

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Accounts Receivable (Schedule Of Accounts Receivable Under Long-Term Contracts) (Details) (USD $) In Millions, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013
Unbilled Receivables, Not Billable, Fiscal Year Maturity [Abstract]
Unbillable, current	$ 2,306	$ 1,550
Unbillable, expected to be collected after one year	1,408	1,020
Total Unbillable	3,714	2,570
Contracts Receivable, Claims and Uncertain Amounts, Fiscal Year Maturity [Abstract]
Claims, current	29	3
Claims, expected to be collected after one year	73	61
Total Claims	$ 102	$ 64

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Investments (Schedule Of Ownership Percentages And Balances Of Equity Method Investments) (Details) (USD $) In Millions, unless otherwise specified	Dec. 31, 2014		Dec. 31, 2013
Schedule of Equity Method Investments [Line Items]
Equity method investments	$ 1,114	[1]	$ 1,164	[1]
Defense, Space & Security [Member] | Network & Space Systems [Member] | United Launch Alliance [Member]
Schedule of Equity Method Investments [Line Items]
Equity Method Investment, Ownership Percentage	50.00%		50.00%
Equity method investments	916		970
Commercial Airplanes, Network & Space Systems, and Global Services & Support [Member] | Other [Member]
Schedule of Equity Method Investments [Line Items]
Equity method investments	$ 198		$ 194

[1] Dividends received were $293 and $226 during 2014 and 2013. Retained earnings at December 31, 2014 include undistributed earnings from our equity method investments of $158.

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Summary Of Significant Accounting Policies (Details) (USD $) In Millions, except Per Share data, unless otherwise specified	12 Months Ended			3 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012	Jun. 30, 2014
Summary Of Significant Accounting Policies [Line Items]
Accounts Payable, Current	$ 10,667	$ 9,498
Increase/(Decrease) in Earnings from operations due to change in accounting estimate.	100	242	379
Duration of operating cycle	generally longer than one year
Earnings Per Share impact, change in accounting estimate	$ 0.10	$ 0.23	$ 0.33
Reinsurance revenues	135	160	129
Reinsurance costs	144	147	128
Research and development expense	3,047	3,071	3,298
Repurchase commitments, maturities	generally 10 to 15 years
Minimum [Member]
Summary Of Significant Accounting Policies [Line Items]
Equity Method Investment, Ownership Percentage	20.00%
Maximum [Member]
Summary Of Significant Accounting Policies [Line Items]
Equity Method Investment, Ownership Percentage	50.00%
Bank Overdrafts [Member]
Summary Of Significant Accounting Policies [Line Items]
Accounts Payable, Current	241	108
Commercial Airplanes [Member]
Summary Of Significant Accounting Policies [Line Items]
Increase/(Decrease) in Earnings from operations due to change in accounting estimate.				(238)
Commercial Airplanes [Member] | Minimum [Member]
Summary Of Significant Accounting Policies [Line Items]
Standard warranty term	3 years
Commercial Airplanes [Member] | Maximum [Member]
Summary Of Significant Accounting Policies [Line Items]
Standard warranty term	4 years
Defense, Space & Security [Member]
Summary Of Significant Accounting Policies [Line Items]
Increase/(Decrease) in Earnings from operations due to change in accounting estimate.				(187)
Defense, Space & Security [Member] | Minimum [Member]
Summary Of Significant Accounting Policies [Line Items]
Standard warranty term	6 months
Defense, Space & Security [Member] | Maximum [Member]
Summary Of Significant Accounting Policies [Line Items]
Standard warranty term	12 months
Developed Technology [Member] | Minimum [Member]
Summary Of Significant Accounting Policies [Line Items]
Finite-lived acquired intangible assets, useful lives (in years)	5 years
Developed Technology [Member] | Maximum [Member]
Summary Of Significant Accounting Policies [Line Items]
Finite-lived acquired intangible assets, useful lives (in years)	14 years
Product Know-How [Member] | Minimum [Member]
Summary Of Significant Accounting Policies [Line Items]
Finite-lived acquired intangible assets, useful lives (in years)	5 years
Product Know-How [Member] | Maximum [Member]
Summary Of Significant Accounting Policies [Line Items]
Finite-lived acquired intangible assets, useful lives (in years)	30 years
Customer Base [Member] | Minimum [Member]
Summary Of Significant Accounting Policies [Line Items]
Finite-lived acquired intangible assets, useful lives (in years)	3 years
Customer Base [Member] | Maximum [Member]
Summary Of Significant Accounting Policies [Line Items]
Finite-lived acquired intangible assets, useful lives (in years)	19 years
Distribution Rights [Member] | Minimum [Member]
Summary Of Significant Accounting Policies [Line Items]
Finite-lived acquired intangible assets, useful lives (in years)	5 years
Distribution Rights [Member] | Maximum [Member]
Summary Of Significant Accounting Policies [Line Items]
Finite-lived acquired intangible assets, useful lives (in years)	27 years
Other Intangible Assets [Member] | Minimum [Member]
Summary Of Significant Accounting Policies [Line Items]
Finite-lived acquired intangible assets, useful lives (in years)	3 years
Other Intangible Assets [Member] | Maximum [Member]
Summary Of Significant Accounting Policies [Line Items]
Finite-lived acquired intangible assets, useful lives (in years)	32 years
Buildings And Land Improvements [Member] | Minimum [Member]
Summary Of Significant Accounting Policies [Line Items]
Property, plant and equipment, estimated useful lives (in years)	10 years
Buildings And Land Improvements [Member] | Maximum [Member]
Summary Of Significant Accounting Policies [Line Items]
Property, plant and equipment, estimated useful lives (in years)	40 years
Machinery And Equipment [Member] | Minimum [Member]
Summary Of Significant Accounting Policies [Line Items]
Property, plant and equipment, estimated useful lives (in years)	3 years
Machinery And Equipment [Member] | Maximum [Member]
Summary Of Significant Accounting Policies [Line Items]
Property, plant and equipment, estimated useful lives (in years)	20 years
Capitalized Internal Use Software [Member]
Summary Of Significant Accounting Policies [Line Items]
Property, plant and equipment, estimated useful lives (in years)	5 years
Bid And Proposal Costs [Member]
Summary Of Significant Accounting Policies [Line Items]
Research and development expense	289	285	326
KC-46A Tanker [Member]
Summary Of Significant Accounting Policies [Line Items]
Increase/(Decrease) in Earnings from operations due to change in accounting estimate.				$ (425)

XML

Postretirement Plans (Schedule Of Assumptions Used To Calculate The Benefit Obligation) (Details)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Defined Benefit Plan Disclosure [Line Items]
Expected return on plan assets	7.00%	7.50%	7.50%
Rate of compensation increase	3.80%	4.00%	4.00%
Pension Plans [Member]
Defined Benefit Plan Disclosure [Line Items]
Discount rate	3.90%	4.80%	3.80%
Other Postretirement Benefits Plans [Member]
Defined Benefit Plan Disclosure [Line Items]
Discount rate	3.50%	4.20%	3.30%

XML

Segment Information (Schedule Of Depreciation And Amortization Expense By Segment) (Details) (USD $) In Millions, unless otherwise specified	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Segment Reporting Information [Line Items]
Depreciation and amortization	$ 1,906	$ 1,844	$ 1,811
Operating Segments [Member] | Commercial Airplanes [Member]
Segment Reporting Information [Line Items]
Depreciation and amortization	674	632	614
Operating Segments [Member] | Defense, Space & Security [Member]
Segment Reporting Information [Line Items]
Depreciation and amortization	353	320	310
Operating Segments [Member] | Defense, Space & Security [Member] | Boeing Military Aircraft [Member]
Segment Reporting Information [Line Items]
Depreciation and amortization	164	131	120
Operating Segments [Member] | Defense, Space & Security [Member] | Network & Space Systems [Member]
Segment Reporting Information [Line Items]
Depreciation and amortization	114	120	123
Operating Segments [Member] | Defense, Space & Security [Member] | Global Services & Support [Member]
Segment Reporting Information [Line Items]
Depreciation and amortization	75	69	67
Operating Segments [Member] | Boeing Capital Corporation [Member]
Segment Reporting Information [Line Items]
Depreciation and amortization	97	110	150
Unallocated items, eliminations and other [Member]
Segment Reporting Information [Line Items]
Depreciation and amortization	$ 782	$ 782	$ 737

XML

Customer Financing (Narrative) (Details) (USD $) In Millions, unless otherwise specified	12 Months Ended
	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2014
Customer Financing [Line Items]
Operating lease equipment	$ 1,734		$ 1,677
Individually evaluated for impairment	95		86
Impaired financing receivables
Interest income recognized on financing receivables	30	6
Average recorded investment in impaired receivables	376	466
B Credit Rating [Member]
Customer Financing [Line Items]
Percentage Of Credit Default Rates Applied To Customers			16.00%
BBB Credit Rating [Member]
Customer Financing [Line Items]
Percentage Of Credit Default Rates Applied To Customers			2.00%
Operating lease equipment available for sale or re-lease [Member] | Boeing Capital Corporation [Member]
Customer Financing [Line Items]
Operating lease equipment	83		48
Operating lease equipment available for sale or re-lease [Member] | Boeing Capital Corporation [Member] | Firm Lease Commitments [Member]
Customer Financing [Line Items]
Operating lease equipment	$ 57		$ 0

XML

Property, Plant And Equipment (Schedule Of Property, Plant And Equipment) (Details) (USD $) In Millions, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013
Property, Plant and Equipment [Abstract]
Land	$ 560	$ 562
Buildings and land improvements	11,767	11,068
Machinery and equipment	12,867	12,376
Construction in progress	1,502	1,288
Gross property, plant and equipment	26,696	25,294
Less accumulated depreciation	(15,689)	(15,070)
Total	$ 11,007	$ 10,224

XML

Customer Financing (Financing Receivable Credit Quality Indicators) (Details) (USD $) In Millions, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013
Financing Receivable, Recorded Investment [Line Items]
Total financing receivables	$ 1,905	$ 2,286
BBB Credit Rating [Member]
Financing Receivable, Recorded Investment [Line Items]
Percentage Of Credit Default Rates Applied To Customers	2.00%
Total financing receivables	1,055	1,091
BB Credit Rating [Member]
Financing Receivable, Recorded Investment [Line Items]
Total financing receivables		58
B Credit Rating [Member]
Financing Receivable, Recorded Investment [Line Items]
Percentage Of Credit Default Rates Applied To Customers	16.00%
Total financing receivables	633	585
CCC Credit Rating [Member]
Financing Receivable, Recorded Investment [Line Items]
Total financing receivables	131	457
Other Credit Rating [Member]
Financing Receivable, Recorded Investment [Line Items]
Total financing receivables	$ 86	$ 95

XML

Property, Plant And Equipment (Payments Due Under Operating And Capital Leases Net Of Sublease Amounts And Non-Cancellable Future Rentals) (Details) (USD $) In Millions, unless otherwise specified	Dec. 31, 2014
Operating Leases, Future Minimum Payments Due, Fiscal Year Maturity [Abstract]
2015	$ 221
2016	203
2017	175
2018	146
2019	123
Capital Leases, Future Minimum Payments Due, Fiscal Year Maturity [Abstract]
2015	56
2016	40
2017	33
2018	14
2019	$ 3

XML

Customer Financing (Schedule Of Customer Financing) (Details) (USD $) In Millions, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
Customer Financing [Abstract]
Investment in sales-type/finance leases	$ 1,535	$ 1,699
Notes	370	587
Total financing receivables	1,905	2,286
Operating lease equipment, at cost, less accumulated depreciation of $571 and $564	1,677	1,734
Gross customer financing	3,582	4,020
Less allowance for losses on receivables	(21)	(49)	(60)	(70)
Total	3,561	3,971
Operating lease equipment, accumulated depreciation	$ 571	$ 564

XML

Accounts Receivable (Narrative) (Details) (USD $) In Millions, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013
Accounts Receivable [Line Items]
Unbillable, expected to be collected after one year	$ 1,408	$ 1,020
Accounts receivable, net	7,729	6,546
Commercial Customers [Member]
Accounts Receivable [Line Items]
Unbillable, expected to be collected after one year	172	179
LightSquared [Member]
Accounts Receivable [Line Items]
Accounts receivable, net	$ 112
Number of satellites	2

XML

Postretirement Plans

12 Months Ended

Dec. 31, 2014

General Discussion of Pension and Other Postretirement Benefits [Abstract]

Postretirement Plans

Postretirement Plans

The majority of our employees are earning benefits under defined benefit pension plans. In 2014, we announced changes to our retirement plans whereby nonunion and the majority of union employees currently participating in defined benefit pension plans will transition in 2016 to a company-funded defined contribution retirement savings plan.

We fund our major pension plans through trusts. Pension assets are placed in trust solely for the benefit of the plans’ participants, and are structured to maintain liquidity that is sufficient to pay benefit obligations as well as to keep pace over the long-term with the growth of obligations for future benefit payments.

We also have other postretirement benefits (OPB) other than pensions which consist principally of health care coverage for eligible retirees and qualifying dependents, and to a lesser extent, life insurance to certain groups of retirees. Retiree health care is provided principally until age 65 for approximately half those retirees who are eligible for health care coverage. Certain employee groups, including employees covered by most United Auto Workers bargaining agreements, are provided lifetime health care coverage.

The funded status of the plans is measured as the difference between the plan assets at fair value and the projected benefit obligation (PBO). We have recognized the aggregate of all overfunded plans in Other assets, and the aggregate of all underfunded plans in either Accrued retiree health care or Accrued pension plan liability, net. The portion of the amount by which the actuarial present value of benefits included in the PBO exceeds the fair value of plan assets, payable in the next 12 months, is reflected in Accrued liabilities. The components of net periodic benefit cost were as follows:

	Pension									Other Postretirement Benefits
Years ended December 31,	2014			2013			2012			2014			2013			2012
Service cost		$1,661			$1,886			$1,649			$129			$148			$146
Interest cost	3,058			2,906			3,005			289			263			313
Expected return on plan assets	(4,169		)	(3,874		)	(3,831		)	(8		)	(6		)	(7		)
Amortization of prior service costs	177			196			225			(144		)	(180		)	(197		)
Recognized net actuarial loss	1,020			2,231			1,937			8			95			119
Settlement/curtailment/other losses	461			104			25			1						(1		)
Net periodic benefit cost		$2,208			$3,449			$3,010			$275			$320			$373
Net periodic benefit cost included in Earnings from operations		$3,215			$3,036			$2,407			$287			$353			$543

The following tables show changes in the benefit obligation, plan assets and funded status of both pensions and OPB for the years ended December 31, 2014 and 2013. Benefit obligation balances presented below reflect the PBO for our pension plans, and accumulated postretirement benefit obligations (APBO) for our OPB plans.

	Pension						Other Postretirement Benefits
	2014			2013			2014			2013
Change in benefit obligation
Beginning balance		$68,625			$75,895			$7,008			$7,981
Service cost	1,661			1,886			129			148
Interest cost	3,058			2,906			289			263
Plan participants’ contributions	6			8
Amendments	51			111			(43		)	4
Actuarial (gain)/loss	10,655			(9,205		)	334			(905		)
Settlement/curtailment/other	(2,518		)	(81		)	7			(57		)
Gross benefits paid	(3,126		)	(2,874		)	(449		)	(451		)
Subsidies							39			32
Exchange rate adjustment	(21		)	(21		)	(8		)	(7		)
Ending balance		$78,391			$68,625			$7,306			$7,008
Change in plan assets
Beginning balance at fair value		$58,131			$56,178			$140			$110
Actual return on plan assets	5,893			3,316			10			23
Company contribution	784			1,542			8			14
Plan participants’ contributions	6			8			2			3
Settlement/curtailment/other	(640		)	(103		)				11
Benefits paid	(3,039		)	(2,792		)	(19		)	(21		)
Exchange rate adjustment	(16		)	(18		)
Ending balance at fair value		$61,119			$58,131			$141			$140
Amounts recognized in statement of financial position at December 31 consist of:
Other assets		$3			$60
Other accrued liabilities	(93		)	(80		)		($363	)		($340	)
Accrued retiree health care							(6,802		)	(6,528		)
Accrued pension plan liability, net	(17,182		)	(10,474		)
Net amount recognized		($17,272	)		($10,494	)		($7,165	)		($6,868	)

Amounts recognized in Accumulated other comprehensive loss at December 31 were as follows:

	Pension				Other Postretirement Benefits
	2014		2013		2014			2013
Net actuarial loss		$21,321		$15,460		$877			$561
Prior service costs/(credits)	385		788		(512		)	(614		)
Total recognized in Accumulated other comprehensive loss		$21,706		$16,248		$365			($53	)

The estimated amount that will be amortized from Accumulated other comprehensive loss into net periodic benefit cost during the year ended December 31, 2015 is as follows:

	Pension		Other Postretirement Benefits
Recognized net actuarial loss		$1,581		$27
Amortization of prior service costs/(credits)	193		(134		)
Total		$1,774		($107	)

The ABO for all pension plans was $75,655 and $63,491 at December 31, 2014 and 2013. Key information for our plans with ABO in excess of plan assets as of December 31 was as follows:

	2014		2013
Projected benefit obligation		$78,358		$63,445
Accumulated benefit obligation	75,622		58,334
Fair value of plan assets	61,082		52,905

Assumptions

The following assumptions, which are the weighted average for all plans, are used to calculate the benefit obligation at December 31 of each year and the net periodic benefit cost for the subsequent year.

December 31,	2014		2013		2012
Discount rate:
Pension	3.90	%	4.80	%	3.80	%
Other postretirement benefits	3.50	%	4.20	%	3.30	%
Expected return on plan assets	7.00	%	7.50	%	7.50	%
Rate of compensation increase	3.80	%	4.00	%	4.00	%

The discount rate for each plan is determined based on the plans’ expected future benefit payments using a yield curve developed from high quality bonds that are rated as Aa or better by at least half of the four rating agencies utilized as of the measurement date. The yield curve is fitted to yields developed from bonds at various maturity points. Bonds with the ten percent highest and the ten percent lowest yields are omitted. A portfolio of about 400 bonds is used to construct the yield curve. Since corporate bond yields are generally not available at maturities beyond 30 years, it is assumed that spot rates will remain level beyond that 30-year point. The present value of each plan’s benefits is calculated by applying the spot/discount rates to projected benefit cash flows. All bonds are U.S. issues, with a minimum outstanding of $50.

The pension fund’s expected return on plan assets assumption is derived from a review of actual historical returns achieved by the pension trust and anticipated future long-term performance of individual asset classes. While consideration is given to recent trust performance and historical returns, the assumption represents a long-term, prospective return. The expected return on plan assets component of the net periodic benefit cost for the upcoming plan year is determined based on the expected return on plan assets assumption and the market-related value of plan assets (MRVA). Since our adoption of the accounting standard for pensions in 1987, we have determined the MRVA based on a five-year moving average of plan assets. As of December 31, 2014, the MRVA was approximately $1,813 less than the fair market value of assets.

Assumed health care cost trend rates were as follows:

December 31,	2014		2013		2012
Health care cost trend rate assumed next year	7.00	%	7.00	%	7.50	%
Ultimate trend rate	5.00	%	5.00	%	5.00	%
Year that trend reached ultimate rate	2018		2018		2018

Assumed health care cost trend rates have a significant effect on the amounts reported for the health care plans. To determine the health care cost trend rates we look at a combination of information including ongoing claims cost monitoring, annual statistical analyses of claims data, reconciliation of forecast claims against actual claims, review of trend assumptions of other plan sponsors and national health trends, and adjustments for plan design changes, workforce changes, and changes in plan participant behavior. A one-percentage-point change in assumed health care cost trend rates would have the following effect:

	Increase		Decrease
Effect on total of service and interest cost		$54		($45	)
Effect on postretirement benefit obligation	736		(613		)

During 2014 the Company conducted a mortality experience study and adopted new company specific tables for purposes of determining the Company’s mortality assumption used in the defined benefit plan liability calculation. The new tables resulted in an increase of $2,500 and $200 to the projected benefit obligation for pension and other postretirement benefits, respectively as of December 31, 2014.

Plan Assets

Investment Strategy The overall objective of our pension assets is to earn a rate of return over time to satisfy the benefit obligations of the pension plans and to maintain sufficient liquidity to pay benefits and address other cash requirements of the pension fund. Specific investment objectives for our long-term investment strategy include reducing the volatility of pension assets relative to pension liabilities, achieving a competitive, total investment return, achieving diversification between and within asset classes and managing other risks. Investment objectives for each asset class are determined based on specific risks and investment opportunities identified.

We periodically update our long-term, strategic asset allocations. We use various analytics to determine the optimal asset mix and consider plan liability characteristics, liquidity characteristics, funding requirements, expected rates of return and the distribution of returns. We identify investment benchmarks for the asset classes in the strategic asset allocation that are market-based and investable where possible.

Actual allocations to each asset class vary from target allocations due to periodic investment strategy changes, market value fluctuations, the length of time it takes to fully implement investment allocation positions (such as private equity and real estate), and the timing of benefit payments and contributions. Short-term investments and exchange-traded derivatives are used to rebalance the actual asset allocation to the target asset allocation. The asset allocation is monitored and rebalanced on a monthly basis.

The actual and target allocations by asset class for the pension assets at December 31 were as follows:

	Actual Allocations				Target Allocations
Asset Class	2014		2013		2014		2013
Fixed income	48	%	49	%	47	%	47	%
Global equity	29		29		26		26
Private equity	5		5		6		6
Real estate and real assets	9		8		11		11
Global strategies	4		4		4		4
Hedge funds	5		5		6		6
Total	100	%	100	%	100	%	100	%

Fixed income securities are invested broadly and primarily in long duration instruments. Global equity securities are invested broadly in U.S. and non-U.S. companies, across various industries and market capitalizations.

Real estate and real assets include global private investments that may be held through an investment in a limited partnership (LP) or other fund structures and publicly traded investments (such as Real Estate Investment Trusts (REIT) in the case of real estate). Real estate includes, but is not limited to, investments in office, retail, apartment and industrial properties. Real assets include, but are not limited to, investments in natural resources (such as energy, farmland and timber), commodities and infrastructure. Private equity investment vehicles are primarily limited partnerships (LPs) and fund-of-funds that mainly invest in U.S. and non-U.S. leveraged buyout, venture capital and special situation strategies.

Global strategies investments seek to capitalize on inefficiencies identified across different asset classes or markets, primarily using long-short positions in derivatives and physical securities. Hedge fund strategy types include, but are not limited to, event driven, relative value, long-short and multi-strategy.

Investment managers are retained for explicit investment roles specified by contractual investment guidelines. Certain investment managers are authorized to invest in derivatives, such as equity or bond futures, swaps, options and currency futures or forwards. Derivatives are used to achieve the desired market exposure of a security or an index, transfer value-added performance between asset classes, achieve the desired currency exposure, adjust portfolio duration or rebalance the total portfolio to the target asset allocation.

As a percentage of total pension plan assets, derivative net notional amounts were 3.5% and 18.3% for fixed income, including to-be-announced mortgage-backed securities and treasury forwards, and 2.0% and (2.2)% for global equity and commodities at December 31, 2014 and 2013.

Risk Management In managing the plan assets, we review and manage risk associated with funded status risk, interest rate risk, market risk, counterparty risk, liquidity risk and operational risk. Liability matching and asset class diversification are central to our risk management approach and are integral to the overall investment strategy. Further, asset classes are constructed to achieve diversification by investment strategy, by investment manager, by industry or sector and by holding. Investment manager guidelines for publicly traded assets are specified and are monitored regularly through the custodian. Credit parameters for counterparties have been established for managers permitted to trade over-the-counter derivatives. Valuation is governed through several types of procedures, including reviews of manager valuation policies, custodian valuation processes, pricing vendor practices, pricing reconciliation, and periodic, security-specific valuation testing.

Fair Value Measurements The following table presents our plan assets using the fair value hierarchy as of December 31, 2014 and 2013. The fair value hierarchy has three levels based on the reliability of the inputs used to determine fair value. Level 1 refers to fair values determined based on quoted prices in active markets for identical assets. Level 2 refers to fair values estimated using significant other observable inputs, and Level 3 includes fair values estimated using significant unobservable inputs.

	December 31, 2014										December 31, 2013
	Total			Level 1		Level 2			Level 3		Total			Level 1		Level 2			Level 3
Fixed income securities:
Corporate		$17,488					$17,486			$2		$15,262					$15,238			$24
U.S. government and agencies	5,224					5,224					4,537					4,537
Mortgage backed and asset backed	1,207					596			611		1,040					491			549
Municipal	1,636					1,636					1,722					1,722
Sovereign	1,073					1,073					1,018					1,018
Common/collective/pooled funds	2,127				$18	2,109					2,538				$16	2,522
Other	498			9		237			252		484					229			255
Derivatives:
Assets	49					49					55					55
Liabilities	(66		)			(66		)			(10		)			(10		)
Cash equivalents and other short-term investments	792					792					801					801
Currency overlay derivatives:
Assets											2					2
Liabilities											(3		)			(3		)
Equity securities:
U.S. common and preferred stock	7,577			7,577							6,919			6,919
Non-U.S. common and preferred stock	7,151			7,139		11			1		7,722			7,721					1
Common/collective/pooled funds	2,658			46		2,443			169		3,239			564		2,675
Derivatives:
Assets	9					9					4					4
Liabilities	(5		)			(5		)			(6		)			(6		)
Private equity	2,955			28					2,927		2,968			10					2,958
Real estate and real assets:
Real estate	3,199			505		41			2,653		2,865			425		16			2,424
Real assets	1,567			370		433			764		1,506			336		464			706
Derivatives:
Assets	2					2					1					1
Liabilities	(11		)			(11		)			(1		)			(1		)
Global strategies	2,248					2,248					2,355					2,355
Hedge funds	3,372					2,411			961		2,776					1,667			1,109
Total		$60,750			$15,692		$36,718			$8,340		$57,794			$15,991		$33,777			$8,026
Cash		$115										$87
Receivables	447										458
Payables	(193		)								(208		)
Total		$61,119										$58,131

Fixed income securities are primarily valued upon a market approach, using matrix pricing and considering a security’s relationship to other securities for which quoted prices in an active market may be available, or an income approach, converting future cash flows to a single present value amount. Inputs used in developing fair value estimates include reported trades, broker quotes, benchmark yields, and base spreads.

Common/collective/pooled funds are typically common or collective trusts valued at their net asset values (NAVs) that are calculated by the investment manager or sponsor of the fund and have daily or monthly liquidity. Derivatives included in the table above are over-the-counter and are primarily valued using an income approach with inputs that include benchmark yields, swap curves, cash flow analysis, rating agency data and interdealer broker rates. Exchange-traded derivative positions are reported in accordance with changes in daily variation margin which is settled daily and therefore reflected in the payables and receivables portion of the table.

Cash equivalents and other short-term investments (which are used to pay benefits) are held in a separate account which consists of a commingled fund (with daily liquidity) and separately held short-term securities and cash equivalents. All of the investments in this cash vehicle are valued daily using a market approach with inputs that include quoted market prices for similar instruments. In the event a market price is not available for instruments with an original maturity of one year or less, amortized cost is used as a proxy for fair value. Common and preferred stock equity securities are primarily valued using a market approach based on the quoted market prices of identical instruments.

Private equity and private debt NAV valuations are based on the valuation of the underlying investments, which include inputs such as cost, operating results, discounted future cash flows and market based comparable data. For those investments reported on a one-quarter lagged basis (primarily LPs) we use NAVs, adjusted for subsequent cash flows and significant events.

Real estate and real asset NAV valuations are based on valuation of the underlying investments, which include inputs such as cost, discounted future cash flows, independent appraisals and market based comparable data. For those investments reported on a one-quarter lagged basis (primarily LPs) NAVs are adjusted for subsequent cash flows and significant events. Publicly traded REITs and infrastructure stocks are valued using a market approach based on quoted market prices of identical instruments. Exchange-traded commodities futures positions are reported in accordance with changes in daily variation margin which is settled daily and therefore reflected in the payables and receivables portion of the table.

Global strategies investments are primarily limited liability company (LLC) or mutual fund structures. The NAVs are based on valuation of the underlying investments, which are primarily valued using a market approach. The funds generally have monthly liquidity.

Hedge funds consist of fund-of-fund LLC structures and direct hedge funds. The NAVs of the fund-of-funds are based on the NAVs of the underlying hedge funds as well as any cash and accruals held at the fund-of-fund level. For direct hedge funds the NAVs are primarily based on valuation of the underlying investments. This is primarily done by applying a market or income valuation methodology depending on the specific type of security or instrument held. Redemptions in hedge funds are based on specific terms and conditions of the individual funds.

Investments in private equity, private debt, real estate, real assets, global strategies, and hedge funds are primarily calculated and reported by the General Partner (GP), fund manager or third party administrator. Pension assets invested in these structures rely on the NAV of these investments as the practical expedient for the valuations.

The following tables present a reconciliation of Level 3 assets held during the year ended December 31, 2014 and 2013. Transfers into and out of Level 3 are reported at the beginning-of-year values.

	January 1 2014 Balance		Net Realized and Unrealized Gains/(Losses)			Net Purchases, Issuances and Settlements			Net Transfers Into/(Out of) Level 3			December 31 2014 Balance
Fixed income securities:
Corporate (1)		$19					($7	)		($10	)		$2
Mortgage backed and asset  backed(1)	554		14			10			33			611
Other	255		24			(27		)				252
Equity securities:
Non-U.S. common and preferred stock	1					(1		)	1			1
Common/collective/ pooled funds			(24		)	193						169
Private equity	2,958		415			(446		)				2,927
Real estate and real assets:
Real estate	2,424		336			(107		)				2,653
Real assets	706		32			26						764
Hedge funds	1,109		(36		)	61			(173		)	961
Total		$8,026		$761			($298	)		($149	)		$8,340

⁽¹⁾    Certain fixed income securities were reclassified from corporate to mortgage backed and asset backed on January 1, 2014.

For the year ended December 31, 2014, the change in unrealized gain for Level 3 assets still held at December 31, 2014 were $8 for mortgage and asset backed fixed income, $7 for other fixed income, ($24) for common/collective/pooled funds, ($3) for private equity, $198 for real estate, ($38) for real assets and ($48) for hedge funds.

	January 1 2013 Balance		Net Realized and Unrealized Gains		Net Purchases, Issuances and Settlements			Net Transfers Into/(Out of) Level 3			December 31 2013 Balance
Fixed income securities:
Corporate		$3				$16			$5			$24
Mortgage backed and asset backed	561				(11		)	(1		)	549
Other (2)	245		37		(27		)				255
Equity securities:
Non-U.S. common and preferred stock								1			1
Private equity (2)	2,671		536		(249		)				2,958
Real estate and real assets:
Real estate	2,128		232		64						2,424
Real assets	664		78		(36		)				706
Hedge funds	1,473		183		(627		)	80			1,109
Total		$7,745		$1,066		($870	)		$85			$8,026

⁽²⁾    Certain private funds with a fixed income strategy were reclassified from private equity to other fixed income on January 1, 2013.

For the year ended December 31, 2013, the change in unrealized gain for Level 3 assets still held at December 31, 2013 were $21 for other fixed income, $422 for private equity, $243 for real estate, $71 for real assets and $283 for hedge funds.

OPB Plan Assets The majority of OPB plan assets are invested in a balanced index fund which is comprised of approximately 60% equities and 40% debt securities. The index fund is valued using a market approach based on the quoted market price of an identical instrument (Level 1). The expected rate of return on these assets does not have a material effect on the net periodic benefit cost.

Cash Flows

Contributions Required pension contributions under the Employee Retirement Income Security Act (ERISA), as well as rules governing funding of our non-U.S. pension plans, are expected to be minimal in 2015. We do not expect contributions to our pension and OPB plans to be significant in 2015.

Estimated Future Benefit Payments The table below reflects the total pension benefits expected to be paid from the plans or from our assets, including both our share of the benefit cost and the participants’ share of the cost, which is funded by participant contributions. OPB payments reflect our portion only.

Year(s)	2015			2016			2017			2018			2019			2020-2024
Pensions		$3,448			$3,657			$3,828			$3,960			$3,977			$21,515
Other postretirement benefits:
Gross benefits paid	465			495			518			558			578			2,974
Subsidies	(38		)	(38		)	(40		)	(41		)	(42		)	(211		)
Net other postretirement benefits		$427			$457			$478			$517			$536			$2,763

Termination Provisions

Certain of the pension plans provide that, in the event there is a change in control of the Company which is not approved by the Board of Directors and the plans are terminated within five years thereafter, the assets in the plan first will be used to provide the level of retirement benefits required by ERISA, and then any surplus will be used to fund a trust to continue present and future payments under the postretirement medical and life insurance benefits in our group insurance benefit programs.

We have an agreement with the U.S. government with respect to certain pension plans. Under the agreement, should we terminate any of the plans under conditions in which the plan’s assets exceed that plan’s obligations, the U.S. government will be entitled to a fair allocation of any of the plan’s assets based on plan contributions that were reimbursed under U.S. government contracts.

Defined Contribution Plans

We provide certain defined contribution plans to all eligible employees. The principal plans are the Company-sponsored 401(k) plans. The expense for these defined contribution plans was $764, $742 and $708 in 2014, 2013 and 2012, respectively.

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Subsequent Events (Details) (Pension Plans [Member], USD $) In Millions, unless otherwise specified	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Pension Plans [Member]
Subsequent Event [Line Items]
Pension curtailment charges/costs	$ 461	$ 104	$ 25

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Share-Based Compensation And Other Compensation Arrangements (Tables)

12 Months Ended

Dec. 31, 2014

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Schedule of share-based plans expense and related income tax benefit

The share-based plans expense and related income tax benefit were as follows:

Years ended December 31,	2014		2013		2012
Stock options		$62		$93		$85
Restricted stock units and other awards	133		113		108
Share-based plans expense		$195		$206		$193
Income tax benefit		$70		$76		$75

Schedule of Stock Options Activity

Stock option activity for the year ended December 31, 2014 is as follows:

	Shares	Weighted Average Exercise Price Per Share		Weighted Average Remaining Contractual Life (Years)	Aggregate Intrinsic Value
Number of shares under option:
Outstanding at beginning of year	23,767,743		$73.97
Granted	20,008	124.98
Exercised	(4,584,615)	74.82
Forfeited	(697,891)	75.70
Expired	(600)	50.57
Outstanding at end of year	18,504,645		$73.75	5.93		$1,041
Exercisable at end of year	13,215,966		$72.74	5.10		$757

Schedule Of Assumptions Used For Fair Value Of Stock Options Granted

The fair values of options were estimated using the Black-Scholes option-pricing model with the following assumptions:

Grant Year	Grant Date	Expected Life	Expected Volatility		Expected Dividend Yield		Risk Free Interest Rate		Weighted-Average Grant Date Fair Value Per Share
2013	2/25/2013	6 years	29.0	%	2.6	%	1.0	%		$15.85
2012	2/27/2012	6 years	29.9	%	2.4	%	1.1	%		$16.89

Schedule of Restricted Stock Units Award Activity

RSU activity for the year ended December 31, 2014 was as follows:

	Long-Term Incentive Program			Other
Number of units:
Outstanding at beginning of year	3,722,317			1,132,930
Granted	729,603			288,600
Dividends	72,387			25,833
Forfeited	(177,986		)	(13,962		)
Distributed	(1,313,782		)	(286,303		)
Outstanding at end of year	3,032,539			1,147,098
Unrecognized compensation cost		$94			$41
Weighted average remaining contractual life (years)	1.7			2.3

Schedule of Performance Based Restricted Stock Units Award Activity

PBRSU activity for the year ended December 31, 2014 was as follows:

	Long-Term Incentive Program
Number of units:
Outstanding at beginning of year
Granted	662,215
Dividends	10,497
Forfeited	(49,610		)
Distributed	0
Outstanding at end of year	623,102
Unrecognized compensation cost		$53
Weighted average remaining contractual life (years)	2.1

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Inventories (Tables)

12 Months Ended

Dec. 31, 2014

Inventory Disclosure [Abstract]

Schedule of Inventory, Current

Inventories at December 31 consisted of the following:

	2014			2013
Long-term contracts in progress		$13,381			$12,608
Commercial aircraft programs	55,220			48,065
Commercial spare parts, used aircraft, general stock materials and other	7,421			7,793
Inventory before advances and progress billings	76,022			68,466
Less advances and progress billings	(29,266		)	(25,554		)
Total		$46,756			$42,912

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Inventories (Inventory Disclosure Table) (Details) (USD $) In Millions, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013
Inventory Disclosure [Abstract]
Long-term contracts in progress	$ 13,381	$ 12,608
Commercial aircraft programs	55,220	48,065
Commercial spare parts, used aircraft, general stock materials and other	7,421	7,793
Inventory before advances and progress billings	76,022	68,466
Less advances and progress billings	(29,266)	(25,554)
Total	$ 46,756	$ 42,912

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Arrangements With Off-Balance Sheet Risk (Schedule Of Arrangements With Off-Balance Sheet Risk) (Details) (USD $) In Millions, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013
Contingent Repurchase Commitment [Member]
Guarantor Obligations [Line Items]
Maximum Potential Payments	$ 1,375	$ 1,872
Estimated Proceeds from Collateral/ Recourse	1,364	1,871
Carrying Amount of Liabilities	5	5
Other Indemnifications [Member]
Guarantor Obligations [Line Items]
Maximum Potential Payments	63	106
Carrying Amount of Liabilities	20	28
Credit Guarantees [Member]
Guarantor Obligations [Line Items]
Maximum Potential Payments	30	35
Estimated Proceeds from Collateral/ Recourse	27	27
Carrying Amount of Liabilities	2	2
ULA [Member] | Contributed Delta Program Launch Inventory [Member]
Guarantor Obligations [Line Items]
Maximum Potential Payments	114	127
ULA [Member] | Contract Pricing [Member]
Guarantor Obligations [Line Items]
Maximum Potential Payments	261	261
Carrying Amount of Liabilities	7	7
ULA [Member] | Other Delta Contracts [Member]
Guarantor Obligations [Line Items]
Maximum Potential Payments	150	227
Carrying Amount of Liabilities		$ 8

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Summary of Business Segment Data (Tables)

12 Months Ended

Dec. 31, 2014

Segment Reporting, Disclosure of Entity's Reportable Segments [Abstract]

Schedule Of Segment Reporting Information, By Segment

(Dollars in millions)
Years ended December 31,	2014			2013			2012
Revenues:
Commercial Airplanes		$59,990			$52,981			$49,127
Defense, Space & Security:
Boeing Military Aircraft	13,511			15,285			15,388
Network & Space Systems	8,003			8,512			7,911
Global Services & Support	9,367			9,400			9,308
Total Defense, Space & Security	30,881			33,197			32,607
Boeing Capital	416			408			468
Unallocated items, eliminations and other	(525		)	37			(504		)
Total revenues		$90,762			$86,623			$81,698
Earnings from operations:
Commercial Airplanes		$6,411			$5,795			$4,711
Defense, Space & Security:
Boeing Military Aircraft	1,304			1,504			1,487
Network & Space Systems	698			719			562
Global Services & Support	1,131			1,012			1,019
Total Defense, Space & Security	3,133			3,235			3,068
Boeing Capital	92			107			88
Unallocated items, eliminations and other	(2,163		)	(2,575		)	(1,577		)
Earnings from operations		$7,473			$6,562			$6,290
Other (loss)/income, net	(3		)	56			62
Interest and debt expense	(333		)	(386		)	(442		)
Earnings before income taxes	7,137			6,232			5,910
Income tax expense	(1,691		)	(1,646		)	(2,007		)
Net earnings from continuing operations	5,446			4,586			3,903
Net loss on disposal of discontinued operations, net of taxes of $0, $0, $2				(1		)	(3		)
Net earnings		$5,446			$4,585			$3,900

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Derivative Financial Instruments (Tables)

12 Months Ended

Dec. 31, 2014

Summary of Derivative Instruments [Abstract]

Schedule of Derivative Instruments in Statement of Financial Position, Fair Value [Table Text Block]

The notional amounts and fair values of derivative instruments in the Consolidated Statements of Financial Position as of December 31 were as follows:

	Notional amounts(1)				Other assets						Accrued liabilities
	2014		2013		2014			2013			2014			2013
Derivatives designated as hedging instruments:
Foreign exchange contracts		$2,586		$2,524		$9			$122			($204	)		($64	)
Interest rate contracts	125		313		10			13
Commodity contracts	31		72		1			2			(24		)	(39		)
Derivatives not receiving hedge accounting treatment:
Foreign exchange contracts	319		259		21			12			(5		)	(35		)
Commodity contracts	3		9											(4		)
Total derivatives		$3,064		$3,177	41			149			(233		)	(142		)
Netting arrangements					(16		)	(63		)	16			63
Net recorded balance						$25			$86			($217	)		($79	)

⁽¹⁾  Notional amounts represent the gross contract/notional amount of the derivatives outstanding.

Schedule Of Derivative Instruments, Gains/(Losses) In Statement Of Financial Performance

Gains/(losses) associated with our cash flow and undesignated hedging transactions and their effect on Other comprehensive income/(loss) and Net earnings were as follows:

Years ended December 31,	2014			2013
Effective portion recognized in Other comprehensive income/(loss), net of taxes:
Foreign exchange contracts		($135	)		($76	)
Commodity contracts	(2		)	1
Effective portion reclassified out of Accumulated other comprehensive loss into earnings, net of taxes:
Foreign exchange contracts	6			37
Commodity contracts	(13		)	(20		)
Forward points recognized in Other income, net:
Foreign exchange contracts	28			34
Undesignated derivatives recognized in Other income, net:
Foreign exchange contracts	(7		)	17

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Income Taxes (Schedule Of Reconciliation Of U.S. Federal Statutory Tax Rate To Our Effective Income Tax Rate) (Details) (USD $) In Millions, unless otherwise specified	3 Months Ended			12 Months Ended			3 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Mar. 31, 2013	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012	Jun. 30, 2014
Income Tax Disclosure [Abstract]
U.S. federal statutory tax				35.00%	35.00%	35.00%
Research and development credits (1)				(2.90%)	(4.90%)	0.80%
Amendments to the R&E regulations (2)					(3.40%)
Tax basis adjustment (3)				(3.60%)
Tax on international activities				(0.20%)	(0.10%)	(1.20%)
Tax deductible dividends				(0.70%)	(0.60%)	(0.70%)
State income tax provision, net of effect on U.S. federal tax				0.70%	0.40%	0.80%
Federal audit settlements (4)				(3.60%)
Other provision adjustments				(1.00%)		(0.70%)
Effective income tax rate				23.70%	26.40%	34.00%
Tax Adjustments, Settlements, and Unusual Provisions	$ (188)	$ (212)	$ (145)
Tax Basis Restoration [Member]
Income Tax Disclosure [Abstract]
Tax Adjustments, Settlements, and Unusual Provisions							(265)
2009-2010 Federal Tax Audit Settlement [Member]
Income Tax Disclosure [Abstract]
Tax Adjustments, Settlements, and Unusual Provisions							(143)
2007-2008 Federal Tax Audit Settlement [Member]
Income Tax Disclosure [Abstract]
Tax Adjustments, Settlements, and Unusual Provisions							$ (116)

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Postretirement Plans (Schedule Of One-Percentage-Point Change In Assumed Health Care Cost Trend Rates) (Details) (USD $) In Millions, unless otherwise specified	12 Months Ended
	Dec. 31, 2014
General Discussion of Pension and Other Postretirement Benefits [Abstract]
Effect on total of service and interest cost, Increase	$ 54
Effect on total of service and interest cost, Decrease	(45)
Effect on postretirement benefit obligation, Increase	736
Effect on postretirement benefit obligation, Decrease	$ (613)

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Goodwill And Acquired Intangibles (Schedule of Finite-Lived Intangible Assets, Future Amortization Expense) (Details) (USD $) In Millions, unless otherwise specified	Dec. 31, 2014
Goodwill and Intangible Assets Disclosure [Abstract]
2015 estimated amortization expense	$ 215
2016 estimated amortization expense	210
2017 estimated amortization expense	201
2018 estimated amortization expense	190
2019 estimated amortization expense	$ 182

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Arrangements With Off-Balance Sheet Risk (Tables)

12 Months Ended

Dec. 31, 2014

Guarantees [Abstract]

Schedule Of Guarantor Obligations

The following table provides quantitative data regarding our third party guarantees. The maximum potential payments represent a “worst-case scenario,” and do not necessarily reflect amounts that we expect to pay. Estimated proceeds from collateral and recourse represent the anticipated values of assets we could liquidate or receive from other parties to offset our payments under guarantees. The carrying amount of liabilities represents the amount included in Accrued liabilities.

	Maximum Potential Payments				Estimated Proceeds from Collateral/ Recourse				Carrying Amount of Liabilities
December 31,	2014		2013		2014		2013		2014		2013
Contingent repurchase commitments		$1,375		$1,872		$1,364		$1,871		$5		$5
Indemnifications to ULA:
Contributed Delta program launch inventory	114		127
Contract pricing	261		261						7		7
Other Delta contracts	150		227								8
Other indemnifications	63		106						20		28
Credit guarantees	30		35		27		27		2		2

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Consolidated Statements Of Equity (USD $) In Millions, unless otherwise specified	Total	Common Stock [Member]	Additional Paid-In Capital [Member]	Treasury Stock [Member]	Retained Earnings [Member]	Accumulated Other Comprehensive Loss [Member]	Non-Controlling Interest [Member]
Balance at January 1, 2012 at Dec. 31, 2011	$ 3,608	$ 5,061	$ 4,033	$ (16,603)	$ 27,524	$ (16,500)	$ 93
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net earnings	3,903				3,900		3
Other Comprehensive Income (Loss), Portion Attributable to Parent, net of tax of $536 in 2012, ($4,246) in 2013, and $2,199 in 2014	(916)					(916)
Share-based compensation and related dividend equivalents	188		215		(27)
Excess tax pools	45		45
Treasury shares issued for stock options exercised, net	120		(54)	174
Treasury shares issued for other share-based plans, net	(67)		(183)	116
Treasury shares issued for 401(k) contribution	442		66	376
Cash dividends declared of $1.805 per share in 2012, $2.185 per share in 2013, and $3.100 per share in 2014	(1,360)				(1,360)
Changes in noncontrolling interests	4						4
Balance at Dec. 31, 2012	5,967	5,061	4,122	(15,937)	30,037	(17,416)	100
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net earnings	4,594				4,585		9
Other Comprehensive Income (Loss), Portion Attributable to Parent, net of tax of $536 in 2012, ($4,246) in 2013, and $2,199 in 2014	7,522					7,522
Share-based compensation and related dividend equivalents	200		216		(16)
Excess tax pools	101		101
Treasury shares issued for stock options exercised, net	1,097		109	988
Treasury shares issued for other share-based plans, net	(54)		(133)	79
Common shares repurchased	(2,801)			(2,801)
Cash dividends declared of $1.805 per share in 2012, $2.185 per share in 2013, and $3.100 per share in 2014	(1,642)				(1,642)
Changes in noncontrolling interests	13						13
Balance at Dec. 31, 2013	14,997	5,061	4,415	(17,671)	32,964	(9,894)	122
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net earnings	5,456				5,446		10
Other Comprehensive Income (Loss), Portion Attributable to Parent, net of tax of $536 in 2012, ($4,246) in 2013, and $2,199 in 2014	(4,009)					(4,009)
Share-based compensation and related dividend equivalents	188		208		(20)
Excess tax pools	114		114
Treasury shares issued for stock options exercised, net	343		17	326
Treasury shares issued for other share-based plans, net	(81)		(129)	48
Common shares repurchased	(6,001)			(6,001)
Cash dividends declared of $1.805 per share in 2012, $2.185 per share in 2013, and $3.100 per share in 2014	(2,210)				(2,210)
Changes in noncontrolling interests	(7)						(7)
Balance at Dec. 31, 2014	$ 8,790	$ 5,061	$ 4,625	$ (23,298)	$ 36,180	$ (13,903)	$ 125

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Quarterly Financial Data (Narrative) (Details) (USD $) In Millions, except Per Share data, unless otherwise specified	1 Months Ended			3 Months Ended					12 Months Ended			3 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Oct. 31, 2013	Dec. 31, 2014	Jun. 30, 2014	Dec. 31, 2013	Jun. 30, 2013	Mar. 31, 2013	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012	Mar. 31, 2014
Schedule of Quarterly Financial Information [Line Items]
Tax Adjustments, Settlements, and Unusual Provisions				$ 188		$ 212		$ 145
Increase/(Decrease) in Earnings from operations due to change in accounting estimate.									100	242	379
Cash dividends declared, per share	$ 0.91	$ 0.73	$ 0.485	$ 1.64	$ 1.46	$ 1.215	$ 0.97		$ 3.100	$ 2.185	$ 1.805
A-12 Program [Member]
Schedule of Quarterly Financial Information [Line Items]
Benefit/(Charge) Related to Litigation Settlement						406
Pension Plans [Member]
Schedule of Quarterly Financial Information [Line Items]
Defined Benefit Plan, Recognized Net Gain (Loss) Due to Settlements and Curtailments									(461)	(104)	(25)
Pension Plans [Member] | defined benefit plan changes [Member]
Schedule of Quarterly Financial Information [Line Items]
Defined Benefit Plan, Recognized Net Gain (Loss) Due to Settlements and Curtailments												(334)
KC-46A Tanker [Member]
Schedule of Quarterly Financial Information [Line Items]
Increase/(Decrease) in Earnings from operations due to change in accounting estimate.					(425)
Tax Basis Restoration [Member]
Schedule of Quarterly Financial Information [Line Items]
Tax Adjustments, Settlements, and Unusual Provisions					265
2007-2008 Federal Tax Audit Settlement [Member]
Schedule of Quarterly Financial Information [Line Items]
Tax Adjustments, Settlements, and Unusual Provisions					116
2009-2010 Federal Tax Audit Settlement [Member]
Schedule of Quarterly Financial Information [Line Items]
Tax Adjustments, Settlements, and Unusual Provisions					$ 143

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Share-Based Compensation And Other Compensation Arrangements (Narrative) (Details) (USD $)	0 Months Ended		12 Months Ended			0 Months Ended
	Feb. 25, 2013	Feb. 27, 2012	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012	Feb. 24, 2014	Feb. 27, 2012
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Aggregate number of shares of stock available for issuance			87,000,000
Stock options vesting percentage after the first year	34.00%	34.00%				34.00%	34.00%
Stock options vesting percentage after the second year	33.00%	33.00%				33.00%	33.00%
Stock options vesting percentage after the third year	33.00%	33.00%				33.00%	33.00%
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period, Total Intrinsic Value			$ 250,000,000	$ 546,000,000	$ 89,000,000
Cash received from options exercised			343,000,000	1,097,000,000	120,000,000
Tax benefit realized from exercise of stock options			87,000,000	190,000,000	29,000,000
Grant date fair value of stock options vested			87,000,000	89,000,000	83,000,000
Initial Value Of Performance Awards (per unit)			$ 100
Deferred compensation			44,000,000	238,000,000	75,000,000
Deferred compensation liability which is being marked to market			1,234,000,000	1,258,000,000
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Volatility Rate	29.00%	29.90%
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Risk Free Interest Rate	1.00%	1.10%
Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Amount payable at end of three-year performance period (per unit)			$ 0
Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Amount payable at end of three-year performance period (per unit)			$ 200
Stock Options [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of options granted	6,591,968	6,114,922
Share-based payment award options expiration term (in years)	10 years					10 years	10 years
Award vesting period (in years)	3 years					3 years	3 years
Total unrecognized compensation cost			34,000,000
Weighted average period (in years) over which the unrecognized compensation cost related to stock options is expected to be recognized			1 year 0 months
Restricted Stock Units (RSUs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period (in years)						3 years
Restricted stock units (RSUs) granted	1,375,414	1,369,810				695,651
Restricted stock units (RSUs) granted (fair value per share)	75.97	75.40				129.58
Performance Awards [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period (in years)						3 years
Performance Awards [Member] | 2013 Performance Award [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period (in years)	3 years
Performance Awards [Member] | 2012 Performance Award [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period (in years)							3 years
Performance Awards [Member] | Minimum [Member] | 2014 Performance Awards [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Performance Awards payout			0
Performance Awards [Member] | Minimum [Member] | 2013 Performance Award [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Performance Awards payout				0
Performance Awards [Member] | Minimum [Member] | 2012 Performance Award [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Performance Awards payout					0
Performance Awards [Member] | Maximum [Member] | 2014 Performance Awards [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Performance Awards payout			343,000,000
Performance Awards [Member] | Maximum [Member] | 2013 Performance Award [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Performance Awards payout			261,000,000
Performance Awards [Member] | Maximum [Member] | 2012 Performance Award [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Performance Awards payout			$ 251,000,000
Performance Based Restricted Stock Units (PBRSUs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted stock units (RSUs) granted						662,215
Restricted stock units (RSUs) granted (fair value per share)						136.12
Initial PBRSU value, percentage of value it cannot exceed						400.00%
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Volatility Rate						24.20%
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Risk Free Interest Rate						0.72%
Performance Based Restricted Stock Units (PBRSUs) [Member] | Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award Payout Range						0.00%
Performance Based Restricted Stock Units (PBRSUs) [Member] | Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award Payout Range						200.00%

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Earnings Per Share (Schedule Of Weighted-Average Number Of Shares Outstanding Used To Compute Earnings Per Share) (Details) (USD $) In Millions, except Per Share data, unless otherwise specified	3 Months Ended								12 Months Ended
	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2013	Sep. 30, 2013	Jun. 30, 2013	Mar. 31, 2013	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Earnings Per Share [Abstract]
Net earnings	$ 1,466	$ 1,362	$ 1,653	$ 965	$ 1,233	$ 1,158	$ 1,088	$ 1,106	$ 5,446	$ 4,585	$ 3,900
Undistributed Earnings (Loss) Allocated to Participating Securities, Basic									6	7	8
Net earnings available to common shareholders									$ 5,440	$ 4,578	$ 3,892
Basic weighted average shares outstanding									728.9	760.8	758.0
Participating securities									1.3	1.9	2.3
Basic weighted average common shares outstanding									727.6	758.9	755.7
Basic weighted average shares outstanding									728.9	760.8	758.0
Dilutive potential common shares									9.1	8.7	5.8
Dilutive weighted average shares outstanding									738.0	769.5	763.8
Participating securities									1.3	1.9	2.3
Diluted weighted average common shares outstanding									736.7	767.6	761.5
Net earnings per share, Basic	$ 2.05	$ 1.88	$ 2.26	$ 1.30	$ 1.63	$ 1.53	$ 1.43	$ 1.45	$ 7.47	$ 6.03	$ 5.15
Net earnings per share, Diluted	$ 2.02	$ 1.86	$ 2.24	$ 1.28	$ 1.61	$ 1.51	$ 1.41	$ 1.44	$ 7.38	$ 5.96	$ 5.11

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Fair Value Measurements Fair Value, Assets and Liabilities Measured on Recurring Basis (Details) (USD $) In Millions, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Available-for-sale investments	$ 7	$ 8
Derivatives	25	86
Derivatives	(217)	(79)
Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Money market funds	3,826	3,783
Available-for-sale investments	7	8
Derivatives	25	86
Total assets	3,858	3,877
Derivatives	(217)	(79)
Total liabilities	(217)	(79)
Fair Value, Measurements, Recurring [Member] | Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Money market funds	3,826	3,783
Available-for-sale investments	7	6
Total assets	3,833	3,789
Fair Value, Measurements, Recurring [Member] | Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Derivatives	25	86
Total assets	25	86
Derivatives	(217)	(79)
Total liabilities	(217)	(79)
Fair Value, Measurements, Recurring [Member] | Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items]
Available-for-sale investments		2
Total assets		$ 2

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Segment Information (Schedule of Intersegment Revenues, Eliminated In Unallocated Items and Eliminations) (Details) (USD $) In Millions, unless otherwise specified	3 Months Ended								12 Months Ended
	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2013	Sep. 30, 2013	Jun. 30, 2013	Mar. 31, 2013	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Segment Reporting Information [Line Items]
Intersegment Revenues	$ 24,468	$ 23,784	$ 22,045	$ 20,465	$ 23,785	$ 22,130	$ 21,815	$ 18,893	$ 90,762	$ 86,623	$ 81,698
Intersegment Eliminations [Member]
Segment Reporting Information [Line Items]
Intersegment Revenues									1,841	908	1,264
Commercial Airplanes [Member] | Intersegment Eliminations [Member]
Segment Reporting Information [Line Items]
Intersegment Revenues									1,822	879	1,215
Boeing Capital Corporation [Member] | Intersegment Eliminations [Member]
Segment Reporting Information [Line Items]
Intersegment Revenues									$ 19	$ 29	$ 49

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Customer Financing (Tables)

12 Months Ended

Dec. 31, 2014

Customer Financing [Abstract]

Schedule Of Customer Financing

Customer financing primarily relates to the Boeing Capital (BCC) segment and consisted of the following at December 31:

	2014			2013
Financing receivables:
Investment in sales-type/finance leases		$1,535			$1,699
Notes	370			587
Total financing receivables	1,905			2,286
Operating lease equipment, at cost, less accumulated depreciation of $571 and $564	1,677			1,734
Gross customer financing	3,582			4,020
Less allowance for losses on receivables	(21		)	(49		)
Total		$3,561			$3,971

Components Of Investment In Sales Type Or Finance Leases

The components of investment in sales-type/finance leases at December 31 were as follows:

	2014			2013
Minimum lease payments receivable		$1,475			$1,731
Estimated residual value of leased assets	521			543
Unearned income	(461		)	(575		)
Total		$1,535			$1,699

Financing Receivable Balances Evaluated For Impairment

Financing receivable balances evaluated for impairment at December 31 were as follows:

	2014		2013
Individually evaluated for impairment		$86		$95
Collectively evaluated for impairment	1,819		2,191
Total financing receivables		$1,905		$2,286

Allowance for Losses on Financing Receivables

The change in the allowance for losses on financing receivables for the years ended December 31, 2014, 2013 and 2012, consisted of the following:

	2014			2013			2012
Beginning balance - January 1		($49	)		($60	)		($70	)
Customer financing valuation benefit	28			11			10
Ending balance - December 31		($21	)		($49	)		($60	)
Collectively evaluated for impairment		($21	)		($49	)		($60	)

Financing Receivable Credit Quality Indicators

Our financing receivable balances at December 31 by internal credit rating category are shown below:

Rating categories	2014		2013
BBB		$1,055		$1,091
BB			58
B	633		585
CCC	131		457
Other	86		95
Total carrying value of financing receivables		$1,905		$2,286

Schedule Of Customer Financing Carrying Values Related To Major Aircraft Concentrations

The majority of customer financing carrying values are concentrated in the following aircraft models at December 31:

	2014		2013
717 Aircraft ($421 and $444 accounted for as operating leases)		$1,562		$1,674
747 Aircraft ($601 and $183 accounted for as operating leases)	601		286
757 Aircraft ($349 and $402 accounted for as operating leases)	370		453
MD-80 Aircraft (Accounted for as sales-type finance leases)	358		411
767 Aircraft ($47 and $60 accounted for as operating leases)	158		207
737 Aircraft ($127 and $138 accounted for as operating leases)	156		210
MD-11 Aircraft (Accounted for as operating leases)	114		220
787 Aircraft (Accounted for as operating leases)			273

Customer Financing Asset Impairment Charges

Charges related to customer financing asset impairment for the years ended December 31 were as follows:

	2014		2013		2012
Boeing Capital		$139		$67		$73
Other Boeing	45		14		(15		)
Total		$184		$81		$58

Scheduled Receipts On Customer Financing

Scheduled receipts on customer financing are as follows:

Year	2015		2016		2017		2018		2019		Beyond 2019
Principal payments on notes receivable		$55		$41		$42		$120		$69		$43
Sales-type/finance lease payments receivable	228		225		206		195		182		439
Operating lease equipment payments receivable	505		130		92		70		54		143

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Significant Group Concentrations Of Risk

12 Months Ended

Dec. 31, 2014

Risks and Uncertainties [Abstract]

Significant Group Concentrations Of Risk

Significant Group Concentrations of Risk

Credit Risk

Financial instruments involving potential credit risk are predominantly with commercial aircraft customers and the U.S. government. Of the $11,438 in gross accounts receivable and gross customer financing included in the Consolidated Statements of Financial Position as of December 31, 2014, $5,246 related predominantly to commercial aircraft customers ($1,664 of accounts receivable and $3,582 of customer financing) and $4,281 related to the U.S. government.

Of the $3,582 in gross customer financing, $2,429 related to customers we believe have less than investment-grade credit including American Airlines, Hawaiian Airlines, and United/Continental Airlines who were associated with 11%, 9% and 8%, respectively, of our financing portfolio. Financing for aircraft is collateralized by security in the related asset and in some instances security in other assets as well.

Other Risk

As of December 31, 2014, approximately 39% of our total workforce was represented by collective bargaining agreements, the majority of which expire after 2015.

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Derivative Financial Instruments

12 Months Ended

Dec. 31, 2014

Summary of Derivative Instruments [Abstract]

Derivative Financial Instruments

Derivative Financial Instruments

Cash Flow Hedges

Our cash flow hedges include foreign currency forward contracts, commodity swaps, and commodity purchase contracts. We use foreign currency forward contracts to manage currency risk associated with certain transactions, specifically forecasted sales and purchases made in foreign currencies. Our foreign currency contracts hedge forecasted transactions through 2019. We use commodity derivatives, such as swaps and fixed-price purchase commitments to hedge against potentially unfavorable price changes for items used in production. Our commodity contracts hedge forecasted transactions through 2017.

Fair Value Hedges

Interest rate swaps under which we agree to pay variable rates of interest are designated as fair value hedges of fixed-rate debt. The net change in fair value of the derivatives and the hedged items is reported in Boeing Capital interest expense.

Derivative Instruments Not Receiving Hedge Accounting Treatment

We also hold certain derivative instruments, primarily foreign currency forward contracts, for risk management purposes that are not receiving hedge accounting treatment.

Notional Amounts and Fair Values

The notional amounts and fair values of derivative instruments in the Consolidated Statements of Financial Position as of December 31 were as follows:

	Notional amounts(1)				Other assets						Accrued liabilities
	2014		2013		2014			2013			2014			2013
Derivatives designated as hedging instruments:
Foreign exchange contracts		$2,586		$2,524		$9			$122			($204	)		($64	)
Interest rate contracts	125		313		10			13
Commodity contracts	31		72		1			2			(24		)	(39		)
Derivatives not receiving hedge accounting treatment:
Foreign exchange contracts	319		259		21			12			(5		)	(35		)
Commodity contracts	3		9											(4		)
Total derivatives		$3,064		$3,177	41			149			(233		)	(142		)
Netting arrangements					(16		)	(63		)	16			63
Net recorded balance						$25			$86			($217	)		($79	)

⁽¹⁾  Notional amounts represent the gross contract/notional amount of the derivatives outstanding.

Gains/(losses) associated with our cash flow and undesignated hedging transactions and their effect on Other comprehensive income/(loss) and Net earnings were as follows:

Years ended December 31,	2014			2013
Effective portion recognized in Other comprehensive income/(loss), net of taxes:
Foreign exchange contracts		($135	)		($76	)
Commodity contracts	(2		)	1
Effective portion reclassified out of Accumulated other comprehensive loss into earnings, net of taxes:
Foreign exchange contracts	6			37
Commodity contracts	(13		)	(20		)
Forward points recognized in Other income, net:
Foreign exchange contracts	28			34
Undesignated derivatives recognized in Other income, net:
Foreign exchange contracts	(7		)	17

Based on our portfolio of cash flow hedges, we expect to reclassify losses of $98 (pre-tax) out of Accumulated other comprehensive loss into earnings during the next 12 months. Ineffectiveness related to our hedges recognized in Other income was insignificant for the years ended December 31, 2014 and 2013.

We have derivative instruments with credit-risk-related contingent features. For foreign exchange contracts with original maturities of at least five years, our derivative counterparties could require settlement if we default on our five-year credit facility. For commodity contracts, our counterparties could require collateral posted in an amount determined by our credit ratings. The fair value of foreign exchange and commodity contracts that have credit-risk-related contingent features that are in a net liability position at December 31, 2014 was $20. At December 31, 2014, there was no collateral posted related to our derivatives.

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Debt (Schedule Of Debt) (Details) (USD $) In Millions, unless otherwise specified	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013
Debt Instrument [Line Items]
Other notes	$ 184	$ 205
Total debt	9,070	9,635
3-month USD LIBOR plus 1 basis point due 2014 [Member]
Debt Instrument [Line Items]
Unsecured debt securities		150
3-month USD LIBOR plus 12.5 basis points due 2017 [Member]
Debt Instrument [Line Items]
Unsecured debt securities	250
0.95% - 5.00% due through 2023 [Member]
Debt Instrument [Line Items]
Unsecured debt securities	4,223	4,832
Debt interest rate - minimum	0.95%
Debt interest rate - maximum	5.00%
Debt Instrument, Maturity Date	Dec. 31, 2024
5.88% - 6.88% due through 2043 [Member]
Debt Instrument [Line Items]
Unsecured debt securities	2,394	2,392
Debt interest rate - minimum	5.88%
Debt interest rate - maximum	6.88%
Debt Instrument, Maturity Date	Dec. 31, 2043
7.25% – 8.75% due through 2043 [Member]
Debt Instrument [Line Items]
Unsecured debt securities	1,657	1,672
Debt interest rate - minimum	7.25%
Debt interest rate - maximum	8.75%
Debt Instrument, Maturity Date	Dec. 31, 2043
6.98% - 7.38% notes due through 2021 [Member]
Debt Instrument [Line Items]
Non-recourse debt and notes	201	233
Debt interest rate - minimum	6.98%
Debt interest rate - maximum	7.38%
Debt Instrument, Maturity Date	Dec. 31, 2021
Due Through Two Thousand Twenty-four [Member]
Debt Instrument [Line Items]
Capital lease obligations	$ 161	$ 151
Debt Instrument, Maturity Date	Dec. 31, 2024

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Summary Of Business Segment Data (Details) (USD $) In Millions, unless otherwise specified	3 Months Ended								12 Months Ended
	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2013	Sep. 30, 2013	Jun. 30, 2013	Mar. 31, 2013	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Segment Reporting Information [Line Items]
Revenues	$ 24,468	$ 23,784	$ 22,045	$ 20,465	$ 23,785	$ 22,130	$ 21,815	$ 18,893	$ 90,762	$ 86,623	$ 81,698
Earnings from operations	2,025	2,119	1,787	1,542	1,515	1,803	1,716	1,528	7,473	6,562	6,290
Other (loss)/income, net									(3)	56	62
Interest and debt expense									(333)	(386)	(442)
Earnings before income taxes									7,137	6,232	5,910
Income tax expense									(1,691)	(1,646)	(2,007)
Net earnings from continuing operations	1,466	1,362	1,653	965	1,233	1,160	1,087	1,106	5,446	4,586	3,903
Net loss on disposal of discontinued operations, net of taxes of $0, $0, and $2						(2)	1			(1)	(3)
Net loss on disposal of discontinued operations, taxes									0	0	(2)
Net earnings	1,466	1,362	1,653	965	1,233	1,158	1,088	1,106	5,446	4,585	3,900
Operating Segments [Member] | Commercial Airplanes [Member]
Segment Reporting Information [Line Items]
Revenues									59,990	52,981	49,127
Earnings from operations									6,411	5,795	4,711
Operating Segments [Member] | Defense, Space & Security [Member]
Segment Reporting Information [Line Items]
Revenues									30,881	33,197	32,607
Earnings from operations									3,133	3,235	3,068
Operating Segments [Member] | Defense, Space & Security [Member] | Boeing Military Aircraft [Member]
Segment Reporting Information [Line Items]
Revenues									13,511	15,285	15,388
Earnings from operations									1,304	1,504	1,487
Operating Segments [Member] | Defense, Space & Security [Member] | Network & Space Systems [Member]
Segment Reporting Information [Line Items]
Revenues									8,003	8,512	7,911
Earnings from operations									698	719	562
Operating Segments [Member] | Defense, Space & Security [Member] | Global Services & Support [Member]
Segment Reporting Information [Line Items]
Revenues									9,367	9,400	9,308
Earnings from operations									1,131	1,012	1,019
Operating Segments [Member] | Boeing Capital Corporation [Member]
Segment Reporting Information [Line Items]
Revenues									416	408	468
Earnings from operations									92	107	88
Unallocated items, eliminations and other [Member]
Segment Reporting Information [Line Items]
Revenues									(525)	37	(504)
Earnings from operations									$ (2,163)	$ (2,575)	$ (1,577)

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Property, Plant And Equipment (Tables)

12 Months Ended

Dec. 31, 2014

Property, Plant and Equipment [Abstract]

Schedule Of Property, Plant And Equipment

Property, plant and equipment at December 31 consisted of the following:

	2014			2013
Land		$560			$562
Buildings and land improvements	11,767			11,068
Machinery and equipment	12,867			12,376
Construction in progress	1,502			1,288
Gross property, plant and equipment	26,696			25,294
Less accumulated depreciation	(15,689		)	(15,070		)
Total		$11,007			$10,224

Payments Due Under Operating And Capital Leases Net Of Sublease Amounts And Non-Cancellable Future Rentals

Payments due under operating and capital leases net of sublease amounts and non-cancellable future rentals during the next five years are as follows:

	2015		2016		2017		2018		2019
Minimum operating lease payments, net of sublease amounts		$221		$203		$175		$146		$123
Minimum capital lease payments, net of sublease amounts	56		40		33		14		3

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Fair Value Measurements

12 Months Ended

Dec. 31, 2014

Fair Value Disclosures [Abstract]

Fair Value Measurements

Fair Value Measurements

The following table presents our assets and liabilities that are measured at fair value on a recurring basis and are categorized using the fair value hierarchy. The fair value hierarchy has three levels based on the reliability of the inputs used to determine fair value. Level 1 refers to fair values determined based on quoted prices in active markets for identical assets. Level 2 refers to fair values estimated using significant other observable inputs and Level 3 includes fair values estimated using significant unobservable inputs.

	December 31, 2014									December 31, 2013
	Total			Level 1		Level 2			Level 3	Total			Level 1		Level 2			Level 3
Assets
Money market funds		$3,826			$3,826						$3,783			$3,783
Available-for-sale investments	7			7						8			6						$2
Derivatives	25						$25			86						$86
Total assets		$3,858			$3,833		$25				$3,877			$3,789		$86			$2
Liabilities
Derivatives		($217	)				($217	)			($79	)				($79	)
Total liabilities		($217	)				($217	)			($79	)				($79	)

Money market funds and available-for-sale equity securities are valued using a market approach based on the quoted market prices of identical instruments. Available-for-sale debt investments are primarily valued using an income approach based on benchmark yields, reported trades and broker/dealer quotes.

Derivatives include foreign currency, commodity and interest rate contracts. Our foreign currency forward contracts are valued using an income approach based on the present value of the forward rate less the contract rate multiplied by the notional amount. Commodity derivatives are valued using an income approach based on the present value of the commodity index prices less the contract rate multiplied by the notional amount. The fair value of our interest rate swaps is derived from a discounted cash flow analysis based on the terms of the contract and the interest rate curve.

Certain assets have been measured at fair value on a nonrecurring basis using significant unobservable inputs (Level 3). The following table presents the nonrecurring losses recognized for the years ended December 31 due to long-lived asset impairment, and the fair value and asset classification of the related assets as of the impairment date:

	2014					2013
	Fair Value		Total Losses			Fair Value		Total Losses
Operating lease equipment		$187		($170	)		$216		($81	)
Property, plant and equipment	19		(15		)	40		(15		)
Other assets and Acquired intangible assets			(17		)
Total		$206		($202	)		$256		($96	)

The fair value of the impaired operating lease equipment is derived by calculating a median collateral value from a consistent group of third party aircraft value publications. The values provided by the third party aircraft publications are derived from their knowledge of market trades and other market factors. Management reviews the publications quarterly to assess the continued appropriateness and consistency with market trends. Under certain circumstances, we adjust values based on the attributes and condition of the specific aircraft or equipment, usually when the features or use of the aircraft vary significantly from the more generic aircraft attributes covered by third party publications, or on the expected net sales price for the aircraft.

Property, plant and equipment, Other assets and Acquired intangible assets were primarily valued using an income approach based on the discounted cash flows associated with the underlying assets.

For Level 3 assets that were measured at fair value on a nonrecurring basis during the year ended December 31, 2014, the following table presents the fair value of those assets as of the measurement date, valuation techniques and related unobservable inputs of those assets.

	Fair Value	Valuation Technique(s)	Unobservable Input	Range Median or Average
Operating lease equipment	$187	Market approach	Aircraft value publications	$158 - $268(1) Median $238
			Aircraft condition adjustments	($58) - $7(2) Net ($51)

⁽¹⁾  The range represents the sum of the highest and lowest values for all aircraft subject to fair value measurement, according to the third party aircraft valuation publications that we use in our valuation process.

⁽²⁾  The negative amount represents the sum, for all aircraft subject to fair value measurement, of all downward adjustments based on consideration of individual aircraft attributes and condition. The positive amount represents the sum of all such upward adjustments.

Fair Value Disclosures

The fair values and related carrying values of financial instruments that are not required to be remeasured at fair value on the Consolidated Statements of Financial Position at December 31 were as follows:

	December 31, 2014
	Carrying Amount			Total Fair Value			Level 1	Level 2			Level 3
Assets
Accounts receivable, net		$7,729			$7,845				$7,845
Notes receivable, net	366			395				395
Liabilities
Debt, excluding capital lease obligations	(8,909		)	(10,686		)		(10,480		)		($206	)

	December 31, 2013
	Carrying Amount			Total Fair Value			Level 1	Level 2			Level 3
Assets
Accounts receivable, net		$6,546			$6,525				$6,525
Notes receivable, net	572			622				622
Liabilities
Debt, excluding capital lease obligations	(9,483		)	(10,897		)		(10,897		)

The fair value of Accounts receivable is based on current market rates for loans of the same risk and maturities. The fair values of our variable rate notes receivable that reprice frequently approximate their carrying amounts. The fair values of fixed rate notes receivable are estimated with discounted cash flow analysis using interest rates currently offered on loans with similar terms to borrowers of similar credit quality. The fair value of our debt that is traded in the secondary market is classified as Level 2 and is based on current market yields. For our debt that is not traded in the secondary market, the fair value is classified as Level 2 and is based on our indicative borrowing cost derived from dealer quotes or discounted cash flows. The fair values of our debt classified as Level 3 are based on discounted cash flow models using the implied yield from similar securities. With regard to other financial instruments with off-balance sheet risk, it is not practicable to estimate the fair value of our indemnifications and financing commitments because the amount and timing of those arrangements are uncertain. Items not included in the above disclosures include cash, restricted cash, time deposits and other deposits, commercial paper, money market funds, Accounts payable and long-term payables. The carrying values of those items, as reflected in the Consolidated Statements of Financial Position, approximate their fair value at December 31, 2014 and 2013. The fair value of assets and liabilities whose carrying value approximates fair value is determined using Level 2 inputs, with the exception of cash (Level 1).

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Legal Proceedings

12 Months Ended

Dec. 31, 2014

Loss Contingency, Information about Litigation Matters [Abstract]

Legal Proceedings

Legal Proceedings

Various legal proceedings, claims and investigations related to products, contracts, employment and other matters are pending against us. Potentially material contingencies are discussed below.

We are subject to various U.S. government investigations, from which civil, criminal or administrative proceedings could result or have resulted in the past. Such proceedings involve or could involve claims by the government for fines, penalties, compensatory and treble damages, restitution and/or forfeitures. Under government regulations, a company, or one or more of its operating divisions or subdivisions, can also be suspended or debarred from government contracts, or lose its export privileges, based on the results of investigations. We believe, based upon current information, that the outcome of any such government disputes and investigations will not have a material effect on our financial position, results of operations, or cash flows, except as set forth below. Where it is reasonably possible that we will incur losses in excess of recorded amounts in connection with any of the matters set forth below, we will disclose either the amount or range of reasonably possible losses in excess of such amounts or, where no such amount or range can be reasonably estimated, the reasons why no such estimate can be made.

Employment, Labor and Benefits Litigation

In connection with the 2005 sale of the former Wichita facility to Spirit AeroSystems, Inc. (Spirit), on February 16, 2007, an action entitled Harkness et al. v. The Boeing Company et al. was filed in the U.S. District Court for the District of Kansas, alleging collective bargaining agreement breaches and ERISA violations in connection with alleged failures to provide benefits to certain former employees of the Wichita facility. During the second quarter of 2014, the plaintiffs and Boeing agreed to settle the matter, subject to a fairness hearing, which has not been scheduled. The settlement would apply to approximately 2,000 employees who were subsequently employed by Spirit. Spirit is obligated to indemnify Boeing for settlement of this matter, and we intend to pursue full indemnification from Spirit. During the fourth quarter of 2014, Boeing filed a complaint against Spirit in Delaware Superior Court seeking to enforce our rights to indemnification and to recover from Spirit amounts incurred by Boeing for pension and retiree medical obligations. We cannot reasonably estimate the range of loss, if any, that may result from this matter pending the outcome of the fairness hearing.

On October 13, 2006, we were named as a defendant in a lawsuit filed in the U.S. District Court for the Southern District of Illinois. Plaintiffs, seeking to represent a class of similarly situated participants and beneficiaries in The Boeing Company Voluntary Investment Plan (the VIP), alleged that fees and expenses incurred by the VIP were and are unreasonable and excessive, not incurred solely for the benefit of the VIP and its participants, and were undisclosed to participants. The plaintiffs further alleged that defendants breached their fiduciary duties in violation of §502(a)(2) of ERISA, and sought injunctive and equitable relief pursuant to §502(a)(3) of ERISA. Our motion for summary judgment was denied on December 30, 2014. We expect trial in this matter to begin during the second quarter of 2015. We cannot reasonably estimate the range of loss, if any, that may result from this matter given the current procedural status of the litigation.

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Consolidated Statements Of Cash Flows (USD $) In Millions, unless otherwise specified	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Cash flows - operation activities:
Net earnings	$ 5,446	$ 4,585	$ 3,900
Non-cash items -
Share-based plans expense	195	206	193
Depreciation and amortization	1,906	1,844	1,811
Investment/asset impairment charges, net	229	96	84
Customer financing valuation benefit	(28)	(11)	(10)
Loss on disposal of discontinued operations		1	5
Loss/(gain) on dispositions, net	10	(20)	(4)
Other charges and credits, net	317	528	694
Excess tax benefits from share-based payment arrangements	(114)	(128)	(45)
Changes in assets and liabilities –
Accounts receivable	(1,328)	(879)	(27)
Inventories, net of advances and progress billings	(4,330)	(5,562)	(5,681)
Accounts payable	1,339	(298)	1,199
Accrued liabilities	(1,088)	883	801
Advances and billings in excess of related costs	3,145	3,353	1,177
Income taxes receivable, payable and deferred	1,325	1,445	1,605
Other long-term liabilities	36	2	157
Pension and other postretirement plans	1,186	1,720	1,288
Customer financing, net	578	391	407
Other	34	23	(46)
Net cash provided by operating activities	8,858	8,179	7,508
Cash flows - investing activities:
Property, plant and equipment additions	(2,236)	(2,098)	(1,703)
Property, plant and equipment reductions	34	51	97
Acquisitions, net of cash acquired	(163)	(26)	(124)
Contributions to investments	(8,617)	(15,394)	(12,921)
Proceeds from investments	13,416	12,453	10,901
Purchase of distribution rights		(140)	(7)
Other	33
Net cash provided/(used) by investing activities	2,467	(5,154)	(3,757)
Cash flows - financing activities
New borrowings	962	571	60
Debt repayments	(1,601)	(1,434)	(2,076)
Payments to noncontrolling interest	(12)
Repayments of distribution rights and other asset financing	(185)	(280)	(228)
Stock options exercised	343	1,097	120
Excess tax benefits from share-based payment arrangements	114	128	45
Employee taxes on certain share-based payment arrangements	(98)	(63)	(76)
Common shares repurchased	(6,001)	(2,801)
Dividends paid	(2,115)	(1,467)	(1,322)
Net cash used by financing activities	(8,593)	(4,249)	(3,477)
Effect of exchange rate changes on cash and cash equivalents	(87)	(29)	18
Net increase/(decrease) in cash and cash equivalents	2,645	(1,253)	292
Cash and cash equivalents at beginning of year	9,088	10,341	10,049
Cash and cash equivalents at end of year	$ 11,733	$ 9,088	$ 10,341

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Segment Information

12 Months Ended

Dec. 31, 2014

Segment Reporting [Abstract]

Segment Information

Segment Information

We operate in five principal segments: Commercial Airplanes; Boeing Military Aircraft (BMA), Network & Space Systems (N&SS), and Global Services & Support (GS&S), collectively Defense, Space & Security; and Boeing Capital. All other activities fall within Unallocated items, eliminations and other. See page 53 for the Summary of Business Segment Data, which is an integral part of this note.

Effective during the first quarter of 2014, certain programs and contracts were realigned among BDS segments. The BMA Airborne Warning and Control Systems program, F-22 Modernization program and the Airborne Early Warning and Control Peace Eagle contract were realigned from BMA to GS&S. Beginning in the third quarter of 2014, amounts previously reported separately as Other segment and Unallocated items and eliminations are now presented on a combined basis to provide a more meaningful presentation. Segment data for 2013 and 2012 have been adjusted to reflect the changes.

The Commercial Airplanes segment develops, produces and markets commercial jet aircraft and provides related support services, principally to the commercial airline industry worldwide.

Our BMA segment is engaged in the research, development, production and modification of manned and unmanned military aircraft and weapons systems for global strike, including fighter aircraft and missile systems; vertical lift including rotorcraft and tilt-rotor aircraft; mobility, surveillance and engagement, including battle management, airborne, anti-submarine, transport and tanker aircraft.

Our N&SS segment is engaged in the research, development, production and modification of the following products and related services: electronics and information solutions, including command, control, communications, computers, intelligence, surveillance and reconnaissance (C4ISR), cyber and information solutions, and intelligence systems; strategic missile and defense systems; space and intelligence systems, including satellites and commercial satellite launch vehicles; and space exploration.

Our GS&S segment provides customers with mission readiness through total support solutions. Our global services business sustains aircraft and systems with a full spectrum of products and services through integrated logistics, including supply chain management and engineering support; maintenance, modification and upgrades for aircraft; and training systems and government services, including pilot and maintenance training. In addition, our GS&S segment is engaged in the research, development, production and modification of airborne surveillance command and control aircraft. GS&S international operations include Boeing Defence U.K. Ltd., Boeing Defence Australia, and Alsalam Aircraft Company, a joint venture.

Our BCC segment facilitates, arranges, structures and provides selective financing solutions for our Boeing customers.

The unallocated activities of Engineering, Operations & Technology (EO&T) and Shared Services Group (SSG), Corporate and intercompany guarantees provided to BCC are included in Unallocated items, eliminations and other. EO&T provides Boeing with technical and functional capabilities, including information technology, research and development, test and evaluation, technology strategy development, environmental remediation management and intellectual property management.

While our principal operations are in the United States, Canada and Australia, some key suppliers and subcontractors are located in Europe and Japan. Revenues, including foreign military sales, are reported by customer location and consisted of the following:

Years ended December 31,	2014		2013		2012
Asia, other than China		$11,900		$12,200		$10,390
Europe	11,898		10,622		10,269
China	11,029		10,555		6,086
Middle East	9,243		9,165		10,285
Canada	1,901		1,486		586
Africa	2,596		621		1,282
Oceania	1,757		1,657		2,043
Latin America, Caribbean and other	2,596		2,725		3,555
Total non-U.S. revenues	52,920		49,031		44,496
United States	37,842		37,592		37,202
Total revenues		$90,762		$86,623		$81,698

Revenues from the U.S. government (including foreign military sales through the U.S. government), primarily recorded at BDS, represented 30%, 34% and 33% of consolidated revenues for 2014, 2013 and 2012, respectively. Approximately 3% of operating assets were located outside the United States as of December 31, 2014 and 2013. The information in the following tables is derived directly from the segments’ internal financial reporting used for corporate management purposes.

Depreciation and Amortization

Years ended December 31,	2014		2013		2012
Commercial Airplanes		$674		$632		$614
Defense, Space & Security:
Boeing Military Aircraft	164		131		120
Network & Space Systems	114		120		123
Global Services & Support	75		69		67
Total Defense, Space & Security	353		320		310
Boeing Capital Corporation	97		110		150
Unallocated items, eliminations and other	782		782		737
Total		$1,906		$1,844		$1,811

Capital Expenditures

Years ended December 31,	2014		2013		2012
Commercial Airplanes		$698		$694		$665
Defense, Space & Security:
Boeing Military Aircraft	175		186		153
Network & Space Systems	93		96		115
Global Services & Support	68		48		57
Total Defense, Space & Security	336		330		325
Unallocated items, eliminations and other	1,202		1,074		713
Total		$2,236		$2,098		$1,703

Unallocated capital expenditures relate primarily to assets managed by SSG on behalf of the five principal segments.

We recorded Earnings from operations associated with our cost and equity method investments of $58, $25 and $77 in our Commercial Airplanes segment and $229, $203 and $196 in BDS, primarily in our N&SS segment, for the years ended December 31, 2014, 2013 and 2012, respectively.

For segment reporting purposes, we record Commercial Airplanes segment revenues and cost of sales for airplanes transferred to other segments. Such transfers may include airplanes accounted for as operating leases and considered transferred to the BCC segment and airplanes transferred to the BDS segment for further modification prior to delivery to the customer. The revenues and cost of sales for these transfers are eliminated in the Unallocated items and eliminations caption. For segment reporting purposes, we record BDS revenues and cost of sales for the modification performed on airplanes received from Commercial Airplanes when the airplane is delivered to the customer or at the attainment of performance milestones.

Intersegment revenues, eliminated in Unallocated items, eliminations and other, are shown in the following table.

Years ended December 31,	2014		2013		2012
Commercial Airplanes		$1,822		$879		$1,215
Boeing Capital	19		29		49
Total		$1,841		$908		$1,264

Unallocated Items, Eliminations and other

Unallocated items, eliminations and other includes costs not attributable to business segments as well as intercompany profit eliminations. We generally allocate costs to business segments based on the U.S. federal cost accounting standards. Components of Unallocated items, eliminations and other are shown in the following table.

Years ended December 31,	2014			2013			2012
Share-based plans		($67	)		($95	)		($81	)
Deferred compensation	(44		)	(238		)	(75		)
Amortization of previously capitalized interest	(72		)	(69		)	(70		)
Eliminations and other unallocated items	(593		)	(859		)	(452		)
Sub-total	(776		)	(1,261		)	(678		)
Pension	(1,469		)	(1,374		)	(787		)
Postretirement	82			60			(112		)
Pension and Postretirement	(1,387		)	(1,314		)	(899		)
Total		($2,163	)		($2,575	)		($1,577	)

Unallocated Pension and Other Postretirement Benefit Expense

Unallocated pension and other postretirement benefit expense represents the portion of pension and other postretirement benefit costs that are not recognized by business segments for segment reporting purposes. Through 2012, the business segments have been allocated pension and other postretirement benefit costs using U.S. Government Cost Accounting Standards (CAS), which employ different actuarial assumptions and accounting conventions than Generally Accepted Accounting Principles in the United States of America (GAAP). Beginning in 2013, pension costs, comprising GAAP service and prior service costs, are allocated to Commercial Airplanes. BDS continues to be allocated CAS pension costs which are allocable to government contracts. Other postretirement benefit costs will continue to be allocated to business segments based on CAS, which is generally based on benefits paid. Prior year allocations have not been adjusted.

Assets

Segment assets are summarized in the table below.

December 31,	2014		2013
Commercial Airplanes		$55,149		$49,520
Defense, Space & Security:
Boeing Military Aircraft	7,232		5,872
Network & Space Systems	5,895		6,450
Global Services & Support	4,586		5,040
Total Defense, Space & Security	17,713		17,362
Boeing Capital	3,525		3,914
Unallocated items, eliminations and other	22,811		21,867
Total		$99,198		$92,663

Assets included in Unallocated items, eliminations and other primarily consist of Cash and cash equivalents, Short-term and other investments, Deferred tax assets, capitalized interest and assets held by SSG as well as intercompany eliminations.

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Customer Financing (Customer Financing Asset Impairment Charges) (Details) (USD $) In Millions, unless otherwise specified	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Customer Financing [Line Items]
Impairment charges	$ 229	$ 96	$ 84
Customer Financing [Member]
Customer Financing [Line Items]
Impairment charges	184	81	58
Customer Financing [Member] | Boeing Capital Corporation [Member]
Customer Financing [Line Items]
Impairment charges	139	67	73
Customer Financing [Member] | Other Boeing [Member]
Customer Financing [Line Items]
Impairment charges	$ 45	$ 14	$ (15)

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Postretirement Plans (Reconciliation Of Level 3 Assets Held) (Details) (Pension Plans [Member], USD $) In Millions, unless otherwise specified	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance at fair value	$ 58,131	$ 56,178
Net Realized and Unrealized Gains/(Losses)	5,893	3,316
Net Purchases, Issuances and Settlements	(640)	(103)
Ending balance at fair value	61,119	58,131
Level 3 [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance at fair value	8,026	7,745
Net Realized and Unrealized Gains/(Losses)	761	1,066
Net Purchases, Issuances and Settlements	(298)	(870)
Net Transfers Into/(Out of) Level 3	(149)	85
Ending balance at fair value	8,340	8,026
Fixed Income Securities [Member] | Corporate [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Ending balance at fair value	17,488
Fixed Income Securities [Member] | Corporate [Member] | Level 3 [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance at fair value	19
Net Purchases, Issuances and Settlements	(7)
Net Transfers Into/(Out of) Level 3	(10)
Ending balance at fair value	2
Fixed Income Securities [Member] | Mortgage backed, Asset backed and other
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Ending balance at fair value	1,207
Fixed Income Securities [Member] | Mortgage backed, Asset backed and other | Level 3 [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance at fair value	554
Net Realized and Unrealized Gains/(Losses)	14
Net Purchases, Issuances and Settlements	10
Net Transfers Into/(Out of) Level 3	33
Ending balance at fair value	611
Fixed Income Securities [Member] | Corporate and other [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Ending balance at fair value		15,262
Fixed Income Securities [Member] | Corporate and other [Member] | Level 3 [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance at fair value		3
Net Realized and Unrealized Gains/(Losses)
Net Purchases, Issuances and Settlements		16
Net Transfers Into/(Out of) Level 3		5
Ending balance at fair value		24
Fixed Income Securities [Member] | Mortgage backed and asset backed [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Ending balance at fair value		1,040
Fixed Income Securities [Member] | Mortgage backed and asset backed [Member] | Level 3 [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance at fair value		561
Net Realized and Unrealized Gains/(Losses)
Net Purchases, Issuances and Settlements		(11)
Net Transfers Into/(Out of) Level 3		(1)
Ending balance at fair value		549
Fixed Income Securities [Member] | Other [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Ending balance at fair value	498	484
Fixed Income Securities [Member] | Other [Member] | Level 3 [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance at fair value	255
Net Realized and Unrealized Gains/(Losses)	24
Net Purchases, Issuances and Settlements	(27)
Ending balance at fair value	252
Fixed Income Securities [Member] | Common Or Collective Or Pooled Funds [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Ending balance at fair value	2,127	2,538
Fixed Income Securities [Member] | Municipal [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Ending balance at fair value	1,636	1,722
Fixed Income Securities [Member] | Municipal [Member] | Level 3 [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance at fair value		245
Net Realized and Unrealized Gains/(Losses)		37
Net Purchases, Issuances and Settlements		(27)
Net Transfers Into/(Out of) Level 3
Ending balance at fair value		255
Equity securities [Member] | Non United States Common And Preferred Stock [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Ending balance at fair value	7,151	7,722
Equity securities [Member] | Non United States Common And Preferred Stock [Member] | Level 3 [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance at fair value	1
Net Purchases, Issuances and Settlements	(1)
Net Transfers Into/(Out of) Level 3	1	1
Ending balance at fair value	1	1
Equity securities [Member] | Common Or Collective Or Pooled Funds [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Ending balance at fair value	2,658	3,239
Equity securities [Member] | Common Or Collective Or Pooled Funds [Member] | Level 3 [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Net Realized and Unrealized Gains/(Losses)	(24)
Net Purchases, Issuances and Settlements	193
Ending balance at fair value	169
Private Equity Funds [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Ending balance at fair value	2,955
Private Equity Funds [Member] | Level 3 [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance at fair value	2,958
Net Realized and Unrealized Gains/(Losses)	415
Net Purchases, Issuances and Settlements	(446)
Ending balance at fair value	2,927
Real estate and real assets [Member] | Real Estate [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Ending balance at fair value	3,199	2,865
Real estate and real assets [Member] | Real Estate [Member] | Level 3 [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance at fair value	2,424	2,128
Net Realized and Unrealized Gains/(Losses)	336	232
Net Purchases, Issuances and Settlements	(107)	64
Ending balance at fair value	2,653	2,424
Real estate and real assets [Member] | Real assets [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Ending balance at fair value	1,567	1,506
Real estate and real assets [Member] | Real assets [Member] | Level 3 [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance at fair value	706	664
Net Realized and Unrealized Gains/(Losses)	32	78
Net Purchases, Issuances and Settlements	26	(36)
Ending balance at fair value	764	706
Hedge Funds [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Ending balance at fair value	3,372	2,776
Hedge Funds [Member] | Level 3 [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance at fair value	1,109	1,473
Net Realized and Unrealized Gains/(Losses)	(36)	183
Net Purchases, Issuances and Settlements	61	(627)
Net Transfers Into/(Out of) Level 3	(173)	80
Ending balance at fair value	961	1,109
Private Equity and Other Funds [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Ending balance at fair value		2,968
Private Equity and Other Funds [Member] | Level 3 [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance at fair value		2,671
Net Realized and Unrealized Gains/(Losses)		536
Net Purchases, Issuances and Settlements		(249)
Ending balance at fair value		$ 2,958

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Income Taxes (Tables)

12 Months Ended

Dec. 31, 2014

Income Tax Disclosure [Abstract]

Components Of Earnings Before Income Taxes Between Domestic and Foreign Jurisdictions

The components of earnings before income taxes were:

Years ended December 31,	2014		2013		2012
U.S.		$6,829		$5,946		$5,647
Non-U.S.	308		286		263
Total		$7,137		$6,232		$5,910

Schedule Of Income Tax Expense/(Benefit)

Income tax expense/(benefit) consisted of the following:

Years ended December 31,	2014			2013			2012
Current tax expense
U.S. federal		$676			($82	)		$657
Non-U.S.	91			76			52
U.S. state	69			11			19
Total current	836			5			728
Deferred tax expense
U.S. federal	828			1,531			1,209
Non-U.S.	34			41			(13		)
U.S. state	(7		)	69			83
Total deferred	855			1,641			1,279
Total income tax expense		$1,691			$1,646			$2,007

Reconciliation Of U.S. Federal Statutory Tax Rate To Our Effective Income Tax Rate schedule

The following is a reconciliation of the U.S. federal statutory tax rate of 35% to our effective income tax rates:

Years ended December 31,	2014		2013		2012
U.S. federal statutory tax	35.0	%	35.0	%	35.0	%
Research and development credits (1)	(2.9	)	(4.9	)	0.8
Amendments to the R&E regulations (2)			(3.4	)
Tax basis adjustment (3)	(3.6	)
Tax on international activities	(0.2	)	(0.1	)	(1.2	)
Tax deductible dividends	(0.7	)	(0.6	)	(0.7	)
State income tax provision, net of effect on U.S. federal tax	0.7		0.4		0.8
Federal audit settlements (4)	(3.6	)
Other provision adjustments	(1.0	)			(0.7	)
Effective income tax rate	23.7	%	26.4	%	34.0	%

⁽¹⁾  In the fourth quarter of 2014, we recorded tax benefits of $188 related to the reinstatement of the research tax credit for 2014. Research tax credits for the 2013 and 2012 tax years were both recorded in 2013.

⁽²⁾  In 2013, we recorded $212 for the issuance of favorable regulations related to research and experimental (R&E) expenditures.

⁽³⁾  In the second quarter of 2014 we recorded an incremental tax benefit of $265 related to the application of a 2012 Federal Court of Claims decision which held that the tax basis in certain assets could be increased and realized upon the assets' disposition (tax basis adjustment).

⁽⁴⁾  In the second quarter of 2014, tax benefits of $116 and $143 were recorded as a result of the 2007-2008 and 2009-2010 federal tax audit settlements.

Significant Components Of Deferred Tax Assets Net Of Deferred Tax Liabilities

Significant components of our deferred tax (liabilities)/assets at December 31 were as follows:

	2014			2013
Inventory and long-term contract methods of income recognition, fixed assets and other (net of valuation allowance of $18 and $20)		($11,589	)		($9,948	)
Pension benefits	6,145			3,099
Retiree health care benefits	2,572			2,458
Other employee benefits	1,477			1,773
Customer and commercial financing	(853		)	(990		)
Net operating loss, credit and capital loss carryovers (net of valuation allowance of $63 and $105)(1)	266			362
Other net unrealized losses	110			26
Unremitted earnings of non-U.S. subsidiaries	(37		)	(44		)
In-process research and development related to acquisitions	10			23
Partnerships and joint ventures	9			(62		)
Net deferred tax (liabilities)/assets(2)		($1,890	)		($3,303	)

⁽¹⁾   Of the deferred tax asset for net operating loss and credit carryovers, $252 expires in years ending from December 31, 2015 through December 31, 2034 and $14 may be carried over indefinitely.

⁽²⁾   Included in the net deferred tax (liabilities)/assets as of December 31, 2014 and 2013 are deferred tax assets in the amounts of $8,007 and $5,818 related to Accumulated other comprehensive loss.

Net Deferred Tax Assets and Liabilities

Net deferred tax (liabilities)/assets at December 31 were as follows:

	2014			2013
Deferred tax assets		$14,219			$12,486
Deferred tax liabilities	(16,028		)	(15,664		)
Valuation allowance	(81		)	(125		)
Net deferred tax (liabilities)/assets		($1,890	)		($3,303	)

Schedule Of Unrecognized Tax Benefits Roll Forward

A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows:

	2014			2013			2012
Unrecognized tax benefits – January 1		$1,141			$1,055			$939
Gross increases – tax positions in prior periods	403			10			55
Gross decreases – tax positions in prior periods	(251		)	(125		)	(20		)
Gross increases – current-period tax positions	217			202			83
Gross decreases – current-period tax positions				(1		)	(1		)
Settlements	(197		)				(1		)
Lapse of statute of limitations	(1		)
Unrecognized tax benefits – December 31		$1,312			$1,141			$1,055

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Fair Value Measurements (Tables)

12 Months Ended

Dec. 31, 2014

Fair Value Disclosures [Abstract]

Fair Value, Assets And Liabilities Measured On Recurring Basis

The following table presents our assets and liabilities that are measured at fair value on a recurring basis and are categorized using the fair value hierarchy. The fair value hierarchy has three levels based on the reliability of the inputs used to determine fair value. Level 1 refers to fair values determined based on quoted prices in active markets for identical assets. Level 2 refers to fair values estimated using significant other observable inputs and Level 3 includes fair values estimated using significant unobservable inputs.

	December 31, 2014									December 31, 2013
	Total			Level 1		Level 2			Level 3	Total			Level 1		Level 2			Level 3
Assets
Money market funds		$3,826			$3,826						$3,783			$3,783
Available-for-sale investments	7			7						8			6						$2
Derivatives	25						$25			86						$86
Total assets		$3,858			$3,833		$25				$3,877			$3,789		$86			$2
Liabilities
Derivatives		($217	)				($217	)			($79	)				($79	)
Total liabilities		($217	)				($217	)			($79	)				($79	)

Fair Value, Assets Measured On Nonrecurring Basis Using Unobservable Inputs

The following table presents the nonrecurring losses recognized for the years ended December 31 due to long-lived asset impairment, and the fair value and asset classification of the related assets as of the impairment date:

	2014					2013
	Fair Value		Total Losses			Fair Value		Total Losses
Operating lease equipment		$187		($170	)		$216		($81	)
Property, plant and equipment	19		(15		)	40		(15		)
Other assets and Acquired intangible assets			(17		)
Total		$206		($202	)		$256		($96	)

Fair Value, Assets Measured On Nonrecurring Basis, Valuation Techniques

For Level 3 assets that were measured at fair value on a nonrecurring basis during the year ended December 31, 2014, the following table presents the fair value of those assets as of the measurement date, valuation techniques and related unobservable inputs of those assets.

	Fair Value	Valuation Technique(s)	Unobservable Input	Range Median or Average
Operating lease equipment	$187	Market approach	Aircraft value publications	$158 - $268(1) Median $238
			Aircraft condition adjustments	($58) - $7(2) Net ($51)

⁽¹⁾  The range represents the sum of the highest and lowest values for all aircraft subject to fair value measurement, according to the third party aircraft valuation publications that we use in our valuation process.

⁽²⁾  The negative amount represents the sum, for all aircraft subject to fair value measurement, of all downward adjustments based on consideration of individual aircraft attributes and condition. The positive amount represents the sum of all such upward adjustments.

Fair Values And Related Carrying Values Of Financial Instruments

The fair values and related carrying values of financial instruments that are not required to be remeasured at fair value on the Consolidated Statements of Financial Position at December 31 were as follows:

	December 31, 2014
	Carrying Amount			Total Fair Value			Level 1	Level 2			Level 3
Assets
Accounts receivable, net		$7,729			$7,845				$7,845
Notes receivable, net	366			395				395
Liabilities
Debt, excluding capital lease obligations	(8,909		)	(10,686		)		(10,480		)		($206	)

	December 31, 2013
	Carrying Amount			Total Fair Value			Level 1	Level 2			Level 3
Assets
Accounts receivable, net		$6,546			$6,525				$6,525
Notes receivable, net	572			622				622
Liabilities
Debt, excluding capital lease obligations	(9,483		)	(10,897		)		(10,897		)

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Accounts Receivable (Schedule Of Accounts Receivable) (Details) (USD $) In Millions, unless otherwise specified	Dec. 31, 2014		Dec. 31, 2013
Accounts Receivables [Line Items]
Less valuation allowance, Current	$ (127)		$ (104)
Accounts receivable, Net, Current	7,729		6,546
U S Government Contracts [Member]
Accounts Receivables [Line Items]
Accounts Receivable, Gross, Current	4,281		3,604
Defense, Space & Security customers [Member]
Accounts Receivables [Line Items]
Accounts Receivable, Gross, Current	1,018	[1]	1,073	[1]
Commercial Airplanes customers [Member]
Accounts Receivables [Line Items]
Accounts Receivable, Gross, Current	1,749		1,072
Reinsurance Receivables [Member]
Accounts Receivables [Line Items]
Accounts Receivable, Gross, Current	512		525
Other [Member]
Accounts Receivables [Line Items]
Accounts Receivable, Gross, Current	$ 296		$ 376

[1] Excludes U.S. government contracts

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Consolidated Statements Of Operations (USD $) In Millions, except Per Share data, unless otherwise specified	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Income Statement [Abstract]
Sales of products	$ 80,688	$ 76,792	$ 71,234
Sales of services	10,074	9,831	10,464
Total revenues	90,762	86,623	81,698
Cost of products	(68,551)	(65,640)	(60,309)
Cost of services	(8,132)	(7,553)	(8,247)
Boeing Capital interest expense	(69)	(75)	(109)
Total costs and expenses	(76,752)	(73,268)	(68,665)
Gross profit	14,010	13,355	13,033
Income from operating investments, net	287	214	268
General and administrative expense	(3,767)	(3,956)	(3,717)
Research and development expense, net	(3,047)	(3,071)	(3,298)
(Loss)/gain on dispositions, net	(10)	20	4
Earnings from operations	7,473	6,562	6,290
Other (loss)/income, net	(3)	56	62
Interest and debt expense	(333)	(386)	(442)
Earnings before income taxes	7,137	6,232	5,910
Income tax expense	(1,691)	(1,646)	(2,007)
Net earnings from continuing operations	5,446	4,586	3,903
Net loss on disposal of discontinued operations, net of taxes of $0, $0, and $2		(1)	(3)
Net earnings	$ 5,446	$ 4,585	$ 3,900
Basic earnings per share from continuing operations	$ 7.47	$ 6.03	$ 5.15
Net loss on disposal of discontinued operations, net of taxes
Basic earnings per share	$ 7.47	$ 6.03	$ 5.15
Diluted earnings per share from continuing operations	$ 7.38	$ 5.96	$ 5.11
Net loss on disposal of discontinued operations, net of taxes
Diluted earnings per share	$ 7.38	$ 5.96	$ 5.11

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Investments (Tables)

12 Months Ended

Dec. 31, 2014

Investments [Abstract]

Schedule Of Investments

Our investments, which are recorded in Short-term and other investments or Investments, consisted of the following at December 31:

	2014		2013
Time deposits		$1,295		$6,090
Pledged money market funds(1)	38		46
Available-for-sale investments	7		8
Equity method investments (2)	1,114		1,164
Restricted cash(3)	26		33
Other investments	33		33
Total		$2,513		$7,374

⁽¹⁾  Reflects amounts pledged in lieu of letters of credit as collateral in support of our workers’ compensation programs. These funds can become available within 30 days notice upon issuance of letters of credit.

⁽²⁾  Dividends received were $293 and $226 during 2014 and 2013. Retained earnings at December 31, 2014 include undistributed earnings from our equity method investments of $158.

⁽³⁾  Restricted to pay certain claims related to workers’ compensation and life insurance premiums for certain employees.

Schedule of Equity Method Investments

Our equity method investments consisted of the following as of December 31:

	Segment	Ownership Percentages	Investment Balance
			2014		2013
United Launch Alliance	Network & Space Systems (N&SS)	50%		$916		$970
Other	Commercial Airplanes, N&SS and Global Services & Support (GS&S)		198		194
Total equity method investments				$1,114		$1,164

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Arrangements With Off-Balance Sheet Risk (Narrative) (Details) (USD $) In Millions, unless otherwise specified	1 Months Ended		12 Months Ended
	Dec. 31, 2011	Jun. 30, 2011	Dec. 31, 2014	Dec. 31, 2013
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]
Number of satellite missions			4
Potentially Unrecoverable Costs Under Contracts	$ 114	$ 271
Offsetting capital lease obligation and IRB asset			638	690
ULA [Member]
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]
Delta launch program inventories included in contributed assets			1,360
Delta launch program inventories subject to an inventory supply agreement			1,860
Contributed inventories consumed by ULA			1,246
Inventory Supply Agreement Payments Received			1,609
Inventory Supply Agreement Revenue and Costs of Sales Recorded			1,287
Contributed Delta Program Launch Inventory [Member] | ULA [Member]
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]
Maximum Potential Payments			114	127
Indemnification Agreement [Member]
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]
Number of satellite missions			3
Maximum exposure to loss			278
Other Delta Contracts [Member] | Deferred support costs [Member]
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]
Maximum Potential Payments			85
Other Delta Contracts [Member] | ULA [Member]
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]
Maximum Potential Payments			150	227
Carrying Amount of Liabilities				8
Deferred Support and Production Costs [Member]
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]
Loss contingency, estimate of possible loss			317
Other Indemnifications [Member]
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]
Maximum Potential Payments			63	106
Carrying Amount of Liabilities			20	28
Credit Guarantees [Member]
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]
Maximum Potential Payments			30	35
Carrying Amount of Liabilities			$ 2	$ 2
Guarantor Obligations, Term			6

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Segment Information (Schedule Of Capital Expenditures By Segment) (Details) (USD $) In Millions, unless otherwise specified	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Segment Reporting Information [Line Items]
Capital expenditures	$ 2,236	$ 2,098	$ 1,703
Operating Segments [Member] | Commercial Airplanes [Member]
Segment Reporting Information [Line Items]
Capital expenditures	698	694	665
Operating Segments [Member] | Defense, Space & Security [Member]
Segment Reporting Information [Line Items]
Capital expenditures	336	330	325
Operating Segments [Member] | Defense, Space & Security [Member] | Boeing Military Aircraft [Member]
Segment Reporting Information [Line Items]
Capital expenditures	175	186	153
Operating Segments [Member] | Defense, Space & Security [Member] | Network & Space Systems [Member]
Segment Reporting Information [Line Items]
Capital expenditures	93	96	115
Operating Segments [Member] | Defense, Space & Security [Member] | Global Services & Support [Member]
Segment Reporting Information [Line Items]
Capital expenditures	68	48	57
Unallocated items, eliminations and other [Member]
Segment Reporting Information [Line Items]
Capital expenditures	$ 1,202	$ 1,074	$ 713

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Postretirement Plans (Schedule Of Allocation of Plan Assets) (Details) (Pension Plans [Member], USD $) In Millions, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Fair Value of Plan Assets	$ 61,119	$ 58,131	$ 56,178
Fair Value Measurement [Domain]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Fair Value of Plan Assets	60,750	57,794
Fair Value, Inputs, Level 1 [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Fair Value of Plan Assets	15,692	15,991
Fair Value, Inputs, Level 2 [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Fair Value of Plan Assets	36,718	33,777
Fair Value, Inputs, Level 3 [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Fair Value of Plan Assets	8,340	8,026	7,745
Fixed Income Securities [Member] | Corporate [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Fair Value of Plan Assets	17,488
Fixed Income Securities [Member] | Corporate [Member] | Fair Value, Inputs, Level 2 [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Fair Value of Plan Assets	17,486
Fixed Income Securities [Member] | Corporate [Member] | Fair Value, Inputs, Level 3 [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Fair Value of Plan Assets	2	19
Fixed Income Securities [Member] | Corporate and other [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Fair Value of Plan Assets		15,262
Fixed Income Securities [Member] | Corporate and other [Member] | Fair Value, Inputs, Level 2 [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Fair Value of Plan Assets		15,238
Fixed Income Securities [Member] | Corporate and other [Member] | Fair Value, Inputs, Level 3 [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Fair Value of Plan Assets		24	3
Fixed Income Securities [Member] | US Government and agencies [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Fair Value of Plan Assets	5,224	4,537
Fixed Income Securities [Member] | US Government and agencies [Member] | Fair Value, Inputs, Level 2 [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Fair Value of Plan Assets	5,224	4,537
Fixed Income Securities [Member] | Mortgage backed and asset backed [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Fair Value of Plan Assets		1,040
Fixed Income Securities [Member] | Mortgage backed and asset backed [Member] | Fair Value, Inputs, Level 2 [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Fair Value of Plan Assets		491
Fixed Income Securities [Member] | Mortgage backed and asset backed [Member] | Fair Value, Inputs, Level 3 [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Fair Value of Plan Assets		549	561
Fixed Income Securities [Member] | Mortgage backed, Asset backed and other
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Fair Value of Plan Assets	1,207
Fixed Income Securities [Member] | Mortgage backed, Asset backed and other | Fair Value, Inputs, Level 2 [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Fair Value of Plan Assets	596
Fixed Income Securities [Member] | Mortgage backed, Asset backed and other | Fair Value, Inputs, Level 3 [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Fair Value of Plan Assets	611	554
Fixed Income Securities [Member] | Municipal [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Fair Value of Plan Assets	1,636	1,722
Fixed Income Securities [Member] | Municipal [Member] | Fair Value, Inputs, Level 2 [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Fair Value of Plan Assets	1,636	1,722
Fixed Income Securities [Member] | Municipal [Member] | Fair Value, Inputs, Level 3 [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Fair Value of Plan Assets		255	245
Fixed Income Securities [Member] | Sovereign [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Fair Value of Plan Assets	1,073	1,018
Fixed Income Securities [Member] | Sovereign [Member] | Fair Value, Inputs, Level 2 [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Fair Value of Plan Assets	1,073	1,018
Fixed Income Securities [Member] | Other [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Fair Value of Plan Assets	498	484
Fixed Income Securities [Member] | Other [Member] | Fair Value, Inputs, Level 1 [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Fair Value of Plan Assets	9
Fixed Income Securities [Member] | Other [Member] | Fair Value, Inputs, Level 2 [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Fair Value of Plan Assets	237	229
Fixed Income Securities [Member] | Other [Member] | Fair Value, Inputs, Level 3 [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Fair Value of Plan Assets	252	255
Fixed Income Securities [Member] | Common Or Collective Or Pooled Funds [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Fair Value of Plan Assets	2,127	2,538
Fixed Income Securities [Member] | Common Or Collective Or Pooled Funds [Member] | Fair Value, Inputs, Level 1 [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Fair Value of Plan Assets	18	16
Fixed Income Securities [Member] | Common Or Collective Or Pooled Funds [Member] | Fair Value, Inputs, Level 2 [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Fair Value of Plan Assets	2,109	2,522
Fixed Income Securities [Member] | Derivative Assets [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Fair Value of Plan Assets	49	55
Fixed Income Securities [Member] | Derivative Assets [Member] | Fair Value, Inputs, Level 1 [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Fair Value of Plan Assets
Fixed Income Securities [Member] | Derivative Assets [Member] | Fair Value, Inputs, Level 2 [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Fair Value of Plan Assets	49	55
Fixed Income Securities [Member] | Derivative Liabilities [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Fair Value of Plan Assets	(66)	(10)
Fixed Income Securities [Member] | Derivative Liabilities [Member] | Fair Value, Inputs, Level 2 [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Fair Value of Plan Assets	(66)	(10)
Cash Equivalents And Other Short-Term Investments [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Fair Value of Plan Assets	792	801
Cash Equivalents And Other Short-Term Investments [Member] | Fair Value, Inputs, Level 1 [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Fair Value of Plan Assets
Cash Equivalents And Other Short-Term Investments [Member] | Fair Value, Inputs, Level 2 [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Fair Value of Plan Assets	792	801
Currency Overlay Derivatives [Member] | Derivative Assets [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Fair Value of Plan Assets		2
Currency Overlay Derivatives [Member] | Derivative Assets [Member] | Fair Value, Inputs, Level 2 [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Fair Value of Plan Assets		2
Currency Overlay Derivatives [Member] | Derivative Liabilities [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Fair Value of Plan Assets		(3)
Currency Overlay Derivatives [Member] | Derivative Liabilities [Member] | Fair Value, Inputs, Level 2 [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Fair Value of Plan Assets		(3)
Equity securities [Member] | Common Or Collective Or Pooled Funds [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Fair Value of Plan Assets	2,658	3,239
Equity securities [Member] | Common Or Collective Or Pooled Funds [Member] | Fair Value, Inputs, Level 1 [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Fair Value of Plan Assets	46	564
Equity securities [Member] | Common Or Collective Or Pooled Funds [Member] | Fair Value, Inputs, Level 2 [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Fair Value of Plan Assets	2,443	2,675
Equity securities [Member] | Common Or Collective Or Pooled Funds [Member] | Fair Value, Inputs, Level 3 [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Fair Value of Plan Assets	169
Equity securities [Member] | Derivative Assets [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Fair Value of Plan Assets	9	4
Equity securities [Member] | Derivative Assets [Member] | Fair Value, Inputs, Level 2 [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Fair Value of Plan Assets	9	4
Equity securities [Member] | Derivative Liabilities [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Fair Value of Plan Assets	(5)	(6)
Equity securities [Member] | Derivative Liabilities [Member] | Fair Value, Inputs, Level 2 [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Fair Value of Plan Assets	(5)	(6)
Equity securities [Member] | United States Common And Preferred Stock [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Fair Value of Plan Assets	7,577	6,919
Equity securities [Member] | United States Common And Preferred Stock [Member] | Fair Value, Inputs, Level 1 [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Fair Value of Plan Assets	7,577	6,919
Equity securities [Member] | Non United States Common And Preferred Stock [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Fair Value of Plan Assets	7,151	7,722
Equity securities [Member] | Non United States Common And Preferred Stock [Member] | Fair Value, Inputs, Level 1 [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Fair Value of Plan Assets	7,139	7,721
Equity securities [Member] | Non United States Common And Preferred Stock [Member] | Fair Value, Inputs, Level 2 [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Fair Value of Plan Assets	11
Equity securities [Member] | Non United States Common And Preferred Stock [Member] | Fair Value, Inputs, Level 3 [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Fair Value of Plan Assets	1	1
Private Equity Funds [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Fair Value of Plan Assets	2,955
Private Equity Funds [Member] | Fair Value, Inputs, Level 1 [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Fair Value of Plan Assets	28
Private Equity Funds [Member] | Fair Value, Inputs, Level 3 [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Fair Value of Plan Assets	2,927	2,958
Private Equity and Other Funds [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Fair Value of Plan Assets		2,968
Private Equity and Other Funds [Member] | Fair Value, Inputs, Level 1 [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Fair Value of Plan Assets		10
Private Equity and Other Funds [Member] | Fair Value, Inputs, Level 3 [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Fair Value of Plan Assets		2,958	2,671
Real estate and real assets [Member] | Derivative Assets [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Fair Value of Plan Assets	2	1
Real estate and real assets [Member] | Derivative Assets [Member] | Fair Value, Inputs, Level 2 [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Fair Value of Plan Assets	2	1
Real estate and real assets [Member] | Derivative Liabilities [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Fair Value of Plan Assets	(11)	(1)
Real estate and real assets [Member] | Derivative Liabilities [Member] | Fair Value, Inputs, Level 2 [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Fair Value of Plan Assets	(11)	(1)
Real estate and real assets [Member] | Real Estate [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Fair Value of Plan Assets	3,199	2,865
Real estate and real assets [Member] | Real Estate [Member] | Fair Value, Inputs, Level 1 [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Fair Value of Plan Assets	505	425
Real estate and real assets [Member] | Real Estate [Member] | Fair Value, Inputs, Level 2 [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Fair Value of Plan Assets	41	16
Real estate and real assets [Member] | Real Estate [Member] | Fair Value, Inputs, Level 3 [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Fair Value of Plan Assets	2,653	2,424	2,128
Real estate and real assets [Member] | Real assets [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Fair Value of Plan Assets	1,567	1,506
Real estate and real assets [Member] | Real assets [Member] | Fair Value, Inputs, Level 1 [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Fair Value of Plan Assets	370	336
Real estate and real assets [Member] | Real assets [Member] | Fair Value, Inputs, Level 2 [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Fair Value of Plan Assets	433	464
Real estate and real assets [Member] | Real assets [Member] | Fair Value, Inputs, Level 3 [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Fair Value of Plan Assets	764	706	664
Global Strategies [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Fair Value of Plan Assets	2,248	2,355
Global Strategies [Member] | Fair Value, Inputs, Level 2 [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Fair Value of Plan Assets	2,248	2,355
Hedge Funds [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Fair Value of Plan Assets	3,372	2,776
Hedge Funds [Member] | Fair Value, Inputs, Level 2 [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Fair Value of Plan Assets	2,411	1,667
Hedge Funds [Member] | Fair Value, Inputs, Level 3 [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Fair Value of Plan Assets	961	1,109	1,473
Cash On Hand [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Fair Value of Plan Assets	115	87
Receivables [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Fair Value of Plan Assets	447	458
Payables [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Fair Value of Plan Assets	$ (193)	$ (208)

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Consolidated Statements Of Financial Position (USD $) In Millions, unless otherwise specified	Dec. 31, 2014		Dec. 31, 2013
Assets
Cash and cash equivalents	$ 11,733		$ 9,088
Short-term and other investments	1,359		6,170
Accounts receivable, net	7,729		6,546
Current portion of customer financing, net	190		344
Deferred income taxes	18		14
Inventories, net of advances and progress billings	46,756		42,912
Total current assets	67,785		65,074
Customer financing, net	3,371		3,627
Property, plant and equipment, net	11,007		10,224
Goodwill	5,119		5,043
Acquired intangible assets, net	2,869		3,052
Deferred income taxes	6,576		2,939
Investments	1,154		1,204
Other assets, net of accumulated amortization of $479 and $448	1,317		1,500
Total assets	99,198		92,663
Liabilities and equity
Accounts payable	10,667		9,498
Accrued liabilities	13,343		14,131
Advances and billings in excess of related costs	23,175		20,027
Deferred income taxes and income taxes payable	8,603		6,267
Short-term debt and current portion of long-term debt	929		1,563
Total current liabilities	56,717		51,486
Accrued retiree health care	6,802		6,528
Accrued pension plan liability, net	17,182		10,474
Non-current income taxes payable	358		156
Other long-term liabilities	1,208		950
Long-term debt	8,141		8,072
Shareholders' equity:
Common stock, par value $5.00 – 1,200,000,000 shares authorized; 1,012,261,159 shares issued	5,061		5,061
Additional paid-in capital	4,625		4,415
Treasury stock, at cost	(23,298)		(17,671)
Retained earnings	36,180		32,964
Accumulated other comprehensive loss	(13,903)	[1]	(9,894)	[1]
Total shareholders’ equity	8,665		14,875
Noncontrolling interests	125		122
Total equity	8,790		14,997
Total liabilities and equity	$ 99,198		$ 92,663

[1] Net of tax.

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Liabilities, Commitments And Contingencies (Schedule Of Product Warranty Activity) (Details) (USD $) In Millions, unless otherwise specified	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013
Movement in Standard Product Warranty Accrual [Roll Forward]
Beginning balance - January 1	$ 1,570	$ 1,572
Additions for current year deliveries	566	595
Reductions for payments made	(432)	(419)
Changes in estimates	(200)	(178)
Ending balance - December 31	$ 1,504	$ 1,570

XML

Segment Information (Reconciliation of Assets from Segment to Consolidated) (Details) (USD $) In Millions, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013
Segment Reporting Information [Line Items]
Assets	$ 99,198	$ 92,663
Operating Segments [Member] | Commercial Airplanes [Member]
Segment Reporting Information [Line Items]
Assets	55,149	49,520
Operating Segments [Member] | Defense, Space & Security [Member]
Segment Reporting Information [Line Items]
Assets	17,713	17,362
Operating Segments [Member] | Defense, Space & Security [Member] | Boeing Military Aircraft [Member]
Segment Reporting Information [Line Items]
Assets	7,232	5,872
Operating Segments [Member] | Defense, Space & Security [Member] | Network & Space Systems [Member]
Segment Reporting Information [Line Items]
Assets	5,895	6,450
Operating Segments [Member] | Defense, Space & Security [Member] | Global Services & Support [Member]
Segment Reporting Information [Line Items]
Assets	4,586	5,040
Operating Segments [Member] | Boeing Capital Corporation [Member]
Segment Reporting Information [Line Items]
Assets	3,525	3,914
Unallocated items, eliminations and other [Member]
Segment Reporting Information [Line Items]
Assets	$ 22,811	$ 21,867

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Quarterly Financial Data (Schedule Of Quarterly Financial Data) (Details) (USD $) In Millions, except Per Share data, unless otherwise specified	1 Months Ended			3 Months Ended								12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Oct. 31, 2013	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2013	Sep. 30, 2013	Jun. 30, 2013	Mar. 31, 2013	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Schedule of Quarterly Financial Information [Line Items]
Revenues				$ 24,468	$ 23,784	$ 22,045	$ 20,465	$ 23,785	$ 22,130	$ 21,815	$ 18,893	$ 90,762	$ 86,623	$ 81,698
Total costs and expenses				(20,711)	(20,075)	(18,670)	(17,296)	(20,388)	(18,674)	(18,450)	(15,756)	(76,752)	(73,268)	(68,665)
Earnings from operations				2,025	2,119	1,787	1,542	1,515	1,803	1,716	1,528	7,473	6,562	6,290
Net earnings from continuing operations				1,466	1,362	1,653	965	1,233	1,160	1,087	1,106	5,446	4,586	3,903
Net (loss)/gain from disposal of discontinued operations									(2)	1			(1)	(3)
Net earnings				$ 1,466	$ 1,362	$ 1,653	$ 965	$ 1,233	$ 1,158	$ 1,088	$ 1,106	$ 5,446	$ 4,585	$ 3,900
Basic earnings per share from continuing operations				$ 2.05	$ 1.88	$ 2.26	$ 1.30	$ 1.63	$ 1.53	$ 1.43	$ 1.45	$ 7.47	$ 6.03	$ 5.15
Basic earnings per share				$ 2.05	$ 1.88	$ 2.26	$ 1.30	$ 1.63	$ 1.53	$ 1.43	$ 1.45	$ 7.47	$ 6.03	$ 5.15
Diluted earnings per share from continuing operations				$ 2.02	$ 1.86	$ 2.24	$ 1.28	$ 1.61	$ 1.51	$ 1.41	$ 1.44	$ 7.38	$ 5.96	$ 5.11
Diluted earnings per share				$ 2.02	$ 1.86	$ 2.24	$ 1.28	$ 1.61	$ 1.51	$ 1.41	$ 1.44	$ 7.38	$ 5.96	$ 5.11
Cash dividends declared, per share	$ 0.91	$ 0.73	$ 0.485	$ 1.64		$ 1.46		$ 1.215		$ 0.97		$ 3.100	$ 2.185	$ 1.805
Common stock sales price per share, Quarter end	$ 129.98	$ 136.49		$ 129.98	$ 127.38	$ 127.23	$ 125.49	$ 136.49	$ 117.50	$ 102.44	$ 85.85	$ 129.98	$ 136.49
Maximum [Member]
Schedule of Quarterly Financial Information [Line Items]
Common stock sales price per share				$ 135.78	$ 130.58	$ 138.39	$ 144.57	$ 142.00	$ 120.38	$ 104.15	$ 86.84
Minimum [Member]
Schedule of Quarterly Financial Information [Line Items]
Common stock sales price per share				$ 116.32	$ 117.87	$ 121.92	$ 118.77	$ 113.34	$ 98.99	$ 83.80	$ 72.68

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Goodwill And Acquired Intangibles (Schedule Of Goodwill By Reportable Segment) (Details) (USD $) In Millions, unless otherwise specified	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013
Goodwill [Roll Forward]
Goodwill, Beginning Balance	$ 5,043	$ 5,035
Acquisitions	102	25
Goodwill adjustments	(26)	(17)
Goodwill, Ending Balance	5,119	5,043
Operating Segments [Member] | Commercial Airplanes [Member]
Goodwill [Roll Forward]
Goodwill, Beginning Balance	2,108	2,125
Acquisitions	45
Goodwill adjustments	(22)	(17)
Goodwill, Ending Balance	2,131	2,108
Operating Segments [Member] | Defense, Space & Security [Member] | Boeing Military Aircraft [Member]
Goodwill [Roll Forward]
Goodwill, Beginning Balance	964	946
Acquisitions		18
Goodwill adjustments
Goodwill, Ending Balance	964	964
Operating Segments [Member] | Defense, Space & Security [Member] | Network & Space Systems [Member]
Goodwill [Roll Forward]
Goodwill, Beginning Balance	1,513	1,513
Acquisitions	57
Goodwill adjustments	(4)
Goodwill, Ending Balance	1,566	1,513
Operating Segments [Member] | Defense, Space & Security [Member] | Global Services & Support [Member]
Goodwill [Roll Forward]
Goodwill, Beginning Balance	458	451
Acquisitions		7
Goodwill adjustments
Goodwill, Ending Balance	$ 458	$ 458

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Debt (Schedule Of Short-Term Debt And Current Portion Of Long-Term Debt) (Details) (USD $) In Millions, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013
Debt Disclosure [Abstract]
Unsecured debt securities	$ 755	$ 1,370
Non-recourse debt and notes	38	32
Capital Lease Obligations	64	68
Other notes	72	93
Short-term debt and current portion of long-term debt	$ 929	$ 1,563

XML

Earnings Per Share (Policy)

12 Months Ended

Dec. 31, 2014

Earnings Per Share [Abstract]

Earnings Per Share, Policy

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, less earnings available to participating securities, divided by the basic weighted average common shares outstanding.

Diluted earnings per share is calculated by taking net earnings, less earnings available to participating securities, divided by the diluted weighted average common shares outstanding.

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Fair Value Measurements Fair Values And Related Carrying Values of Financial Instruments (Details) (USD $) In Millions, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Accounts receivable, net	$ 7,729	$ 6,546
Accounts receivable, Fair Value	7,845	6,525
Notes receivable, Fair Value	395	622
Debt, excluding capital lease obligations, Fair Value	(10,686)	(10,897)
Level 2 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Accounts receivable, Fair Value	7,845	6,525
Notes receivable, Fair Value	395	622
Debt, excluding capital lease obligations, Fair Value	(10,480)	(10,897)
Level 3 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt, excluding capital lease obligations, Fair Value	(206)
Carrying Amount [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Accounts receivable, net	7,729	6,546
Notes receivable, net	366	572
Debt, excluding capital lease obligations, Carrying Amount	$ (8,909)	$ (9,483)

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Income Taxes (Components of Earnings Before Income Taxes Between Domestic and Foreign Jurisdictions) (Details) (USD $) In Millions, unless otherwise specified	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Income Tax Disclosure [Abstract]
U.S.	$ 6,829	$ 5,946	$ 5,647
Non-U.S.	308	286	263
Earnings before income taxes	$ 7,137	$ 6,232	$ 5,910

XML

Liabilities, Commitments And Contingencies

12 Months Ended

Dec. 31, 2014

Commitments and Contingencies Disclosure [Abstract]

Liabilities, Commitments And Contingencies

Liabilities, Commitments and Contingencies

Accrued Liabilities

Accrued liabilities at December 31 consisted of the following:

	2014		2013
Accrued compensation and employee benefit costs		$5,868		$6,158
Environmental	601		649
Product warranties	1,504		1,570
Forward loss recognition	414		360
Dividends payable	637		542
Other	4,319		4,852
Total		$13,343		$14,131

Environmental

The following table summarizes environmental remediation activity during the years ended December 31, 2014 and 2013.

	2014			2013
Beginning balance – January 1		$649			$710
Reductions for payments made	(89		)	(120		)
Changes in estimates	41			59
Ending balance – December 31		$601			$649

The liabilities recorded represent our best estimate or the low end of a range of reasonably possible costs expected to be incurred to remediate sites, including operation and maintenance over periods of up to 30 years. It is reasonably possible that we may incur charges that exceed these recorded amounts because of regulatory agency orders and directives, changes in laws and/or regulations, higher than expected costs and/or the discovery of new or additional contamination. As part of our estimating process, we develop a range of reasonably possible alternate scenarios that includes the high end of a range of reasonably possible cost estimates for all remediation sites for which we have sufficient information based on our experience and existing laws and regulations. There are some potential remediation obligations where the costs of remediation cannot be reasonably estimated. At December 31, 2014 and 2013, the high end of the estimated range of reasonably possible remediation costs exceeded our recorded liabilities by $874 and $928.

Product Warranties

The following table summarizes product warranty activity recorded during the years ended December 31, 2014 and 2013.

	2014			2013
Beginning balance – January 1		$1,570			$1,572
Additions for current year deliveries	566			595
Reductions for payments made	(432		)	(419		)
Changes in estimates	(200		)	(178		)
Ending balance - December 31		$1,504			$1,570

Commercial Aircraft Commitments

In conjunction with signing definitive agreements for the sale of new aircraft (Sale Aircraft), we have entered into trade-in commitments with certain customers that give them the right to trade in used aircraft at a specified price upon the purchase of Sale Aircraft. The probability that trade-in commitments will be exercised is determined by using both quantitative information from valuation sources and qualitative information from other sources. The probability of exercise is assessed quarterly, or as events trigger a change, and takes into consideration the current economic and airline industry environments. Trade-in commitments, which can be terminated by mutual consent with the customer, may be exercised only during the period specified in the agreement, and require advance notice by the customer.

Trade-in commitment agreements at December 31, 2014 have expiration dates from 2015 through 2026. At December 31, 2014 and 2013, total contractual trade-in commitments were $2,392 and $1,605. As of December 31, 2014 and 2013, we estimated that it was probable we would be obligated to perform on certain of these commitments with net amounts payable to customers totaling $446 and $325 and the fair value of the related trade-in aircraft was $446 and $325.

Financing Commitments

Financing commitments related to aircraft on order, including options and those proposed in sales campaigns, totaled $16,723 and $17,987 as of December 31, 2014 and 2013. The estimated earliest potential funding dates for these commitments as of December 31, 2014 are as follows:

	Total
2015		$2,552
2016	3,710
2017	3,497
2018	2,305
2019	1,738
Thereafter	2,921
		$16,723

As of December 31, 2014 all of these financing commitments related to customers we believe have less than investment-grade credit. We have concluded that no reserve for future potential losses is required for these financing commitments based upon the terms, such as collateralization and interest rates, under which funding would be provided.

Standby Letters of Credit and Surety Bonds

We have entered into standby letters of credit and surety bonds with financial institutions primarily relating to the guarantee of our future performance on certain contracts. Contingent liabilities on outstanding letters of credit agreements and surety bonds aggregated approximately $3,985 and $4,376 as of December 31, 2014 and 2013.

Commitments to ULA

We and Lockheed Martin Corporation have each committed to provide ULA with up to $527 of additional capital contributions in the event ULA does not have sufficient funds to make a required payment to us under an inventory supply agreement. See Note 6.

C-17

In September 2013, we decided to end production of C-17 aircraft in late 2015. In April 2014, we announced that we anticipate ending production approximately three months earlier based on our decision to produce three fewer aircraft in 2015 than previously planned. As a result, during the first quarter of 2014, BDS recorded $48 to write off inventory and accrue termination liabilities to suppliers. At December 31, 2014, our backlog included international orders for three C-17 aircraft that are scheduled for delivery in 2015 and we have active sales campaigns for the remaining seven unsold aircraft. We are currently incurring costs and have made commitments to suppliers related to these aircraft. We believe it is probable that we will recover costs related to the unsold aircraft from international customer orders. Should orders for the seven unsold aircraft not materialize or should we decide to discontinue production of unsold aircraft, we could incur further charges to write-down inventory and/or record termination liabilities. At December 31, 2014, we had approximately $1,091 of capitalized precontract costs and $385 of potential termination liabilities to suppliers associated with unsold aircraft.

F/A-18

At December 31, 2014, our backlog included 68 F/A-18 aircraft under contract with the U.S. Navy. The Consolidated and Further Continuing Appropriations Act, 2015, funds 15 additional F/A-18 aircraft. The orders in backlog, combined with anticipated orders for the 15 aircraft currently funded, would complete production in 2017. The President’s Fiscal Year 2016 budget request submitted in February 2015 did not include funding for additional F/A-18 aircraft. We are continuing to work with our U.S. customer as well as international customers to secure additional orders. Should additional orders not materialize, it is reasonably possible that we will decide in the next twelve months to end production of the F/A-18 at a future date. We are still evaluating the full financial impact of a potential production shutdown, including any recovery that may be available from the U.S. government.

Company Owned Life Insurance

McDonnell Douglas Corporation insured its executives with Company Owned Life Insurance (COLI), which are life insurance policies with a cash surrender value. Although we do not use COLI currently, these obligations from the merger with McDonnell Douglas are still a commitment at this time. We have loans in place to cover costs paid or incurred to carry the underlying life insurance policies. As of December 31, 2014 and 2013, the cash surrender value was $466 and $451 and the total loans were $439 and $425. As we have the right to offset the loans against the cash surrender value of the policies, we present the net asset in Other assets on the Consolidated Statements of Financial Position as of December 31, 2014 and 2013.

United States Government Defense Environment Overview

U.S. government appropriation levels remain subject to significant uncertainty. In August 2011, the Budget Control Act (The Act) established limits on U.S. government discretionary spending, including a reduction of defense spending by approximately $490 billion between the 2012 and 2021 U.S. government fiscal years. The Act also provided that the defense budget would face “sequestration” cuts of up to an additional $500 billion during that same period to the extent that discretionary spending limits are exceeded. While the impact of sequestration cuts was reduced with respect to FY2014 and FY2015 following the enactment of The Bipartisan Budget Act in December 2013, significant uncertainty remains with respect to overall levels of defense spending. It is likely that U.S. government discretionary spending levels for FY2016 and beyond will continue to be subject to significant pressure, including risk of future sequestration cuts.

Significant uncertainty also continues with respect to program-level appropriations for the U.S. Department of Defense (U.S. DoD) and other government agencies, including the National Aeronautics and Space Administration, within the overall budgetary framework described above. Future budget cuts, including cuts mandated by sequestration, or future procurement decisions associated with the authorization and appropriations process could result in reductions, cancellations and/or delays of existing contracts or programs. Any of these impacts could have a material effect on the results of the Company’s operations, financial position and/or cash flows.

In addition to the risks described above, if Congress is unable to pass appropriations bills in a timely manner, a government shutdown could result which could have impacts above and beyond those resulting from budget cuts or sequestration impacts. For example, requirements to furlough employees in the U.S. DoD or other government agencies could result in payment delays, impair our ability to perform work on existing contracts, and/or negatively impact future orders.

BDS Fixed-Price Development Contracts

Fixed-price development work is inherently uncertain and subject to significant variability in estimates of the cost and time required to complete the work. BDS fixed-price contracts with significant development work include Airborne Early Warning and Control, Commercial Crew, India P-8I, Saudi F-15, USAF KC-46A Tanker and commercial and military satellites. The operational and technical complexities of these contracts create financial risk, which could trigger termination provisions, order cancellations or other financially significant exposure. Changes to cost and revenue estimates could result in lower margins or material charges for reach-forward losses. For example, during the second quarter of 2014, higher estimated costs to complete the KC-46A Tanker contract for the U.S. Air Force resulted in a reach-forward loss of $425 of which the Commercial Airplanes segment recorded $238 and the BMA segment recorded $187.

Recoverable Costs on Government Contracts

Our final incurred costs for each year are subject to audit and review for allowability by the U.S. government, which can result in payment demands related to costs they believe should be disallowed. We work with the U.S. government to assess the merits of claims and where appropriate reserve for amounts disputed. If we are unable to satisfactorily resolve disputed costs, we could be required to record an earnings charge and/or provide refunds to the U.S. government.

Russia/Ukraine

We continue to monitor political unrest involving Russia and Ukraine, where we and some of our suppliers source titanium products and/or have operations. A number of our commercial customers also have operations in Russia and Ukraine. To date, we have not experienced any significant disruptions to production or deliveries. Should suppliers or customers experience disruption, our production and/or deliveries could be materially impacted.

747 and 787 Commercial Airplane Programs

The development and initial production of new commercial airplanes and new commercial airplane derivatives, which include the 747 and 787, entail significant commitments to customers and suppliers as well as substantial investments in working capital, infrastructure and research and development. The 747 and 787 programs had gross margins that were breakeven or near breakeven during 2014.

Lower-than-expected demand for large commercial passenger and freighter aircraft have resulted in ongoing pricing pressures and fewer 747 orders than anticipated. We continue to have a number of unsold 747 production positions. If market, production and other risks cannot be mitigated, the program could face a reach-forward loss that may be material.

The combination of production challenges, change incorporation, schedule delays and customer and supplier impacts has created significant pressure on 787 program profitability. If risks related to this program, including risks associated with planned production rate increases or introducing and manufacturing the 787-10 derivative as scheduled cannot be mitigated, the program could face additional customer claims and/or supplier assertions, as well as a reach-forward loss that may be material.

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Liabilities, Commitments And Contingencies Environmental Remediation (Policies)

12 Months Ended

Dec. 31, 2014

Commitments and Contingencies Disclosure [Abstract]

Environmental Remediation

Environmental Remediation

We are subject to federal and state requirements for protection of the environment, including those for discharge of hazardous materials and remediation of contaminated sites. We routinely assess, based on in-depth studies, expert analyses and legal reviews, our contingencies, obligations, and commitments for remediation of contaminated sites, including assessments of ranges and probabilities of recoveries from other responsible parties and/or insurance carriers. Our policy is to accrue and charge to current expense identified exposures related to environmental remediation sites when it is probable that a liability has been incurred and the amount can be reasonably estimated. The amount of the liability is based on our best estimate or the low end of a range of reasonably possible exposure for investigation, cleanup, and monitoring costs to be incurred. Estimated remediation costs are not discounted to present value as the timing of payments cannot be reasonably estimated. We may be able to recover a portion of the remediation costs from insurers or other third parties. Such recoveries are recorded when realization of the claim for recovery is deemed probable.

The liabilities recorded represent our best estimate or the low end of a range of reasonably possible costs expected to be incurred to remediate sites, including operation and maintenance over periods of up to 30 years. It is reasonably possible that we may incur charges that exceed these recorded amounts because of regulatory agency orders and directives, changes in laws and/or regulations, higher than expected costs and/or the discovery of new or additional contamination. As part of our estimating process, we develop a range of reasonably possible alternate scenarios that includes the high end of a range of reasonably possible cost estimates for all remediation sites for which we have sufficient information based on our experience and existing laws and regulations. There are some potential remediation obligations where the costs of remediation cannot be reasonably estimated.

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Debt (Narrative) (Details) (USD $) In Millions, unless otherwise specified	0 Months Ended	12 Months Ended
	Oct. 31, 2014	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Debt Instrument [Line Items]
Debt Instrument, Issuance Date	Oct. 31, 2014
Proceeds from Debt, Net of Issuance Costs	$ 838
Interest Costs Incurred		504	548	625
Interest Paid		511	551	614
Total debt		9,070	9,635
Customer Financing [Member]
Debt Instrument [Line Items]
Customer Financing Asset Used For Collateralizing Debt		362
Secured Debt [Member]
Debt Instrument [Line Items]
Total debt		213
Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Available amount under credit facility		5,005
Revolving Credit Facility [Member] | 364-day Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Available amount under credit facility		2,473
Maturity date of credit line agreements		Nov. 30, 2015
Revolving Credit Facility [Member] | Five Year Credit Facility [Member] | Five Year Expiration [Member]
Debt Instrument [Line Items]
Available amount under credit facility		2,472
Maturity date of credit line agreements		Nov. 30, 2019
Revolving Credit Facility [Member] | Five Year Credit Facility [Member] | Three Year Expiration [Member]
Debt Instrument [Line Items]
Available amount under credit facility		60
Maturity date of credit line agreements		Nov. 30, 2017
Two Point Eight Five Percent due Oct 30,2024 [Member]
Debt Instrument [Line Items]
Debt instrument, face amount	300
Debt maturity date	Oct. 30, 2024
Debt Instrument, Interest Rate, Stated Percentage	2.85%
Floating Rate Due Oct 30, 2017 [Member]
Debt Instrument [Line Items]
Debt instrument, face amount	250
Debt maturity date	Oct. 30, 2017
Debt Instrument, Description of Variable Rate Basis	three-month LIBOR plus 12.5 basis points
Two Point Three Five Percent due Oct 30,2021 [Member]
Debt Instrument [Line Items]
Debt instrument, face amount	300
Debt maturity date	Oct. 30, 2021
Debt Instrument, Interest Rate, Stated Percentage	2.35%
Boeing Capital Corporation [Member]
Debt Instrument [Line Items]
Proceeds from Debt, Net of Issuance Costs	544
Total debt		$ 2,412	$ 2,577

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Shareholders' Equity (Accumulated other comprehensive income) (Details) (USD $) In Millions, unless otherwise specified	12 Months Ended
	Dec. 31, 2014		Dec. 31, 2013		Dec. 31, 2012
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
Balance	$ (9,894)	[1]	$ (17,416)	[1]	$ (16,500)	[1]
OCI before reclassifications	(4,878)	[1]	5,954	[1]	(2,248)	[1]
Amounts reclassified from AOCI	869	[1]	1,568	[1]	1,332	[1]
Net current period OCI	(4,009)	[1]	7,522	[1]	(916)	[1]
Balance	(13,903)	[1]	(9,894)	[1]	(17,416)	[1]
Defined benefit pension plans & other postretirement benefits:
Amortization of actuarial losses included in net periodic pension cost, net of tax of ($367), ($849), and ($752)	661		1,516		1,304
Amortization of actuarial losses included in net periodic pension cost, tax	(367)		(849)		(752)
Currency Translation Adjustments [Member]
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
Balance	150		214		197
OCI before reclassifications	(97)		(64)		17
Net current period OCI	(97)		(64)		17
Balance	53		150		214
Unrealized Gains and Losses on Certain Investments
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
Balance					(8)
Net current period OCI
Balance	(8)		(8)		(8)
Unrealized Gains and Losses on Derivative Instruments
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
Balance	(6)		86		66
OCI before reclassifications	(137)		(75)		25
Amounts reclassified from AOCI	7		(17)		(5)
Net current period OCI	(130)		(92)		20
Balance	(136)		(6)		86
Defined Benefit Pension Plans and Other Postretirement Benefits
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
Balance	(10,030)		(17,708)		(16,755)
OCI before reclassifications	(4,644)		6,093		(2,290)
Amounts reclassified from AOCI	862	[2]	1,585	[2]	1,337	[2]
Net current period OCI	(3,782)		7,678		(953)
Balance	$ (13,812)		$ (10,030)		$ (17,708)

[1] Net of tax.

[2] Primarily relates to amortization of actuarial losses for the years ended December 31, 2014, 2013, and 2012 totaling $661, $1,516, and $1,304 (net of tax of ($367), ($849), and ($752)), respectively. These are included in the net periodic pension cost of which a portion is allocated to production as inventoried costs. See Note 14.

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Debt

12 Months Ended

Dec. 31, 2014

Debt Disclosure [Abstract]

Debt

Debt

On October 31, 2014, we issued $300 of fixed rate senior notes due October 30, 2021 with an annual interest rate of 2.35%, $300 of fixed rate senior notes due October 30, 2024 with an annual interest rate of 2.85%, and $250 of floating rate senior notes due October 30, 2017. Each series of fixed rate senior notes may be redeemed at our option at any time for a redemption price equal to the full principal amount plus any accrued and unpaid interest and a make-whole premium. The floating rate senior notes bear interest at an annual rate equal to three-month LIBOR plus 12.5 basis points, and are not redeemable prior to maturity. The notes are unsecured senior obligations and rank equally in right of payment with our existing and future unsecured and unsubordinated indebtedness. The net proceeds of the issuance, after deducting underwriting discounts, commissions and offering expenses, totaled $838, of which $544 were used to fund BCC.

Interest incurred, including amounts capitalized, was $504, $548 and $625 for the years ended December 31, 2014, 2013 and 2012, respectively. Interest expense recorded by BCC is reflected as Boeing Capital interest expense on our Consolidated Statements of Operations. Total Company interest payments were $511, $551 and $614 for the years ended December 31, 2014, 2013 and 2012, respectively.

We have $5,005 currently available under credit line agreements, of which $2,473 is a 364-day revolving credit facility expiring in November 2015 and $2,472 expires in November 2019 and $60 in November 2017. The 364-day credit facility has a one-year term out option which allows us to extend the maturity of any borrowings one year beyond the aforementioned expiration date. We continue to be in full compliance with all covenants contained in our debt or credit facility agreements.

Short-term debt and current portion of long-term debt at December 31 consisted of the following:

	2014		2013
Unsecured debt securities		$755		$1,370
Non-recourse debt and notes	38		32
Capital lease obligations	64		68
Other notes	72		93
Total		$929		$1,563

Debt at December 31 consisted of the following:

	2014		2013
Unsecured debt securities
Variable rate: 3-month USD LIBOR plus 1 basis point due 2014				$150
Variable rate: 3-month USD LIBOR plus 12.5 basis points due 2017		$250
0.95% - 5.00% due through 2024	4,223		4,832
5.88% - 6.88% due through 2043	2,394		2,392
7.25% - 8.75% due through 2043	1,657		1,672
Non-recourse debt and notes
6.98% - 7.38% notes due through 2021	201		233
Capital lease obligations due through 2024	161		151
Other notes	184		205
Total debt		$9,070		$9,635

Total debt is attributable to:

	2014		2013
BCC		$2,412		$2,577
Other Boeing	6,658		7,058
Total debt		$9,070		$9,635

At December 31, 2014, $213 of debt (non-recourse debt, notes and capital lease obligations) was collateralized by customer financing assets totaling $362.

Scheduled principal payments for debt and minimum capital lease obligations for the next five years are as follows:

	2015		2016		2017		2018		2019
Scheduled principal payments		$937		$1,098		$331		$653		$1,235

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Income Taxes (Significant Components Of Deferred Tax Assets Net Of Deferred Tax Liabilities) (Details) (USD $) In Millions, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013
Deferred Tax Assets, Net Of Deferred Tax Liabilities [Line Items]
Net deferred tax assets	$ (1,890)	$ (3,303)
Valuation Allowance - Inventory and long-term contract methods of income recognition, fixed assets and other	18	20
Valuation Allowance - Net operating loss, credit and capital loss carryovers	63	105
Deferred tax asset for net operating loss and credit carryovers each year through December 31, 2033	252
Deferred tax asset for net operating loss and credit carryovers indefinitely	14
Deferred tax assets related to Accumulated other comprehensive loss	8,007	5,818
Pension benefits
Deferred Tax Assets, Net Of Deferred Tax Liabilities [Line Items]
Net deferred tax assets	6,145	3,099
Inventory and long-term contract methods of income recognition, fixed assets and other (net of valuation allowance of $18 and $20)
Deferred Tax Assets, Net Of Deferred Tax Liabilities [Line Items]
Net deferred tax assets	(11,589)	(9,948)
Partnerships and joint ventures
Deferred Tax Assets, Net Of Deferred Tax Liabilities [Line Items]
Net deferred tax assets	9	(62)
Retiree health care benefits
Deferred Tax Assets, Net Of Deferred Tax Liabilities [Line Items]
Net deferred tax assets	2,572	2,458
Other employee benefits
Deferred Tax Assets, Net Of Deferred Tax Liabilities [Line Items]
Net deferred tax assets	1,477	1,773
In-process research and development related to acquisitions
Deferred Tax Assets, Net Of Deferred Tax Liabilities [Line Items]
Net deferred tax assets	10	23
Net operating loss, credit and capital loss carryovers (net of valuation allowance of $63 and $105)(1)
Deferred Tax Assets, Net Of Deferred Tax Liabilities [Line Items]
Net deferred tax assets	266	362
Customer and commercial financing
Deferred Tax Assets, Net Of Deferred Tax Liabilities [Line Items]
Net deferred tax assets	(853)	(990)
Unremitted earnings of non-U.S. subsidiaries
Deferred Tax Assets, Net Of Deferred Tax Liabilities [Line Items]
Net deferred tax assets	(37)	(44)
Other net unrealized losses
Deferred Tax Assets, Net Of Deferred Tax Liabilities [Line Items]
Net deferred tax assets	$ 110	$ 26

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Postretirement Plans (Schedule Of Key Information For All Plans With ABO In Excess Of Plan Assets) (Details) (Pension Plans [Member], USD $) In Millions, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013
Pension Plans [Member]
Defined Benefit Plan Disclosure [Line Items]
Projected benefit obligation	$ 78,358	$ 63,445
Accumulated benefit obligation	75,622	58,334
Fair value of plan assets	$ 61,082	$ 52,905

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Consolidated Statements Of Financial Position (Parenthetical) (USD $) In Millions, except Share data, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013
Statement of Financial Position [Abstract]
Other assets, accumulated amortization	$ 479	$ 448
Common stock, par value	$ 5.00	$ 5.00
Common stock, authorized	1,200,000,000	1,200,000,000
Common stock, shares issued	1,012,261,159	1,012,261,159

XML

Consolidated Statements Of Operations (Parenthetical) (USD $) In Millions, unless otherwise specified	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Income Statement [Abstract]
Net loss on disposal of discontinued operations, taxes	$ 0	$ 0	$ 2

XML

Inventories

12 Months Ended

Dec. 31, 2014

Inventory Disclosure [Abstract]

Inventories

Inventories

Inventories at December 31 consisted of the following:

	2014			2013
Long-term contracts in progress		$13,381			$12,608
Commercial aircraft programs	55,220			48,065
Commercial spare parts, used aircraft, general stock materials and other	7,421			7,793
Inventory before advances and progress billings	76,022			68,466
Less advances and progress billings	(29,266		)	(25,554		)
Total		$46,756			$42,912

Long-Term Contracts in Progress

Long-term contracts in progress includes Delta launch program inventory that is being sold at cost to United Launch Alliance (ULA) under an inventory supply agreement that terminates on March 31, 2021. At December 31, 2014 and 2013, the inventory balance was $154 (net of advances of $322) and $425 (net of advances of $331). At December 31, 2014, $292 of this inventory related to unsold launches. See Note 12.

Capitalized precontract costs of $1,281 and $520 at December 31, 2014 and 2013 are included in inventories. See C-17 in Note 11.

Commercial Aircraft Programs

At December 31, 2014 and 2013, commercial aircraft programs inventory included the following amounts related to the 787 program: $33,163 and $27,576 of work in process (including deferred production costs of $26,149 and $21,620), $2,257 and $2,189 of supplier advances, and $3,801 and $3,377 of unamortized tooling and other non-recurring costs. At December 31, 2014, $20,982 of 787 deferred production costs, unamortized tooling and other non-recurring costs are expected to be recovered from units included in the program accounting quantity that have firm orders and $8,968 is expected to be recovered from units included in the program accounting quantity that represent expected future orders.

At December 31, 2014 and 2013, commercial aircraft programs inventory included the following amounts related to the 747 program: $1,741 and $1,554 of deferred production costs, net of previously recorded reach-forward losses, and $476 and $563 of unamortized tooling costs. At December 31, 2014, $1,047 of 747 deferred production and unamortized tooling costs are expected to be recovered from units included in the program accounting quantity that have firm orders and $1,170 is expected to be recovered from units included in the program accounting quantity that represent expected future orders.

Commercial aircraft programs inventory included amounts credited in cash or other consideration (early issue sales consideration) to airline customers totaling $3,341 and $3,465 at December 31, 2014 and 2013.

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Postretirement Plans (Narrative) (Details) (USD $) In Millions, unless otherwise specified	12 Months Ended
	Dec. 31, 2014 Y	Dec. 31, 2013	Dec. 31, 2012
Defined Benefit Plan Disclosure [Line Items]
Moving average of plan assets, years	5
Amount by which fair value of plan assets exceeds market-related value of plan assets (MRVA)	$ 1,813
Derivative net notional amount for fixed income as percentage of total plan assets	3.50%	18.30%
Derivative net notional amount for global equity, currency overlay and commodities as a percentage of total plan assets	2.00%	(2.20%)
Expense for defined contribution plans	764	742	708
Pension Plans [Member]
Defined Benefit Plan Disclosure [Line Items]
Accumulated benefit obligation (ABO) for all pension plans	75,655	63,491
Defined benefit plan, actual plan asset allocations	100.00%	100.00%
Pension Plans [Member] | Fixed Income Securities [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, actual plan asset allocations	48.00%	49.00%
Pension Plans [Member] | Private Equity Funds [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, actual plan asset allocations	5.00%	5.00%
Pension Plans [Member] | Real estate and real assets [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, actual plan asset allocations	9.00%	8.00%
Pension Plans [Member] | Hedge Funds [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, actual plan asset allocations	5.00%	5.00%
Pension Plans [Member] | Equity Securities [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, actual plan asset allocations	29.00%	29.00%
Pension Plans [Member] | Level 3 [Member] | Fixed Income Securities [Member] | Other [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Actual Return on Plan Assets Still Held	7	21
Pension Plans [Member] | Level 3 [Member] | Fixed Income Securities [Member] | Mortgage backed and asset backed [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Actual Return on Plan Assets Still Held	8
Pension Plans [Member] | Level 3 [Member] | Private Equity Funds [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Actual Return on Plan Assets Still Held	(3)
Pension Plans [Member] | Level 3 [Member] | Real estate and real assets [Member] | Real Estate [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Actual Return on Plan Assets Still Held	198	243
Pension Plans [Member] | Level 3 [Member] | Real estate and real assets [Member] | Real assets [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Actual Return on Plan Assets Still Held	(38)	71
Pension Plans [Member] | Level 3 [Member] | Hedge Funds [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Actual Return on Plan Assets Still Held	(48)	283
Pension Plans [Member] | Level 3 [Member] | Private Equity and Other Funds [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Actual Return on Plan Assets Still Held		422
Pension Plans [Member] | Level 3 [Member] | Equity Securities [Member] | Common Or Collective Or Pooled Funds [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Actual Return on Plan Assets Still Held	(24)
Pension Plans [Member] | Adoption of new mortality assumptions [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Benefit Obligation, Period Increase (Decrease)	2,500
Other Postretirement Benefits Plans [Member] | Fixed Income Securities [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, actual plan asset allocations	40.00%
Other Postretirement Benefits Plans [Member] | Equity Securities [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, actual plan asset allocations	60.00%
Other Postretirement Benefits Plans [Member] | Adoption of new mortality assumptions [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Benefit Obligation, Period Increase (Decrease)	$ 200

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Liabilities, Commitments And Contingencies (Schedule Of Environmental Remediation Activity) (Details) (USD $) In Millions, unless otherwise specified	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013
Accrual for Environmental Loss Contingencies [Roll Forward]
Beginning balance - January 1	$ 649	$ 710
Reductions for payments made	(89)	(120)
Changes in estimates	41	59
Ending balance - December 31	$ 601	$ 649

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Liabilities, Commitments And Contingencies (Narrative) (Details) (USD $) In Millions, unless otherwise specified	12 Months Ended			3 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012	Jun. 30, 2014
Liabilities Commitments And Contingencies [Line Items]
Increase/(Decrease) in Earnings from operations due to change in accounting estimate.	$ 100	$ 242	$ 379
Amount by which estimated range of reasonably possible remediation costs exceeded recorded liabilities	874	928
Contingent liabilities on outstanding letters of credit agreements and surety bonds	3,985	4,376
Cash surrender value of life insurance policies	466	451
Total value of loans against underlying life insurance policies	439	425
C-17 Program [Member]
Liabilities Commitments And Contingencies [Line Items]
Number Unsold Aircraft	7
C-17 Program [Member] | Inventory Expenditures And Termination Liabilities [Member]
Liabilities Commitments And Contingencies [Line Items]
Inventory Write-down	48
C-17 Program [Member] | Capitalized Precontract Costs [Member]
Liabilities Commitments And Contingencies [Line Items]
Loss contingency, estimate of possible loss	1,091
C-17 Program [Member] | Potential Termination Liabilities [Member]
Liabilities Commitments And Contingencies [Line Items]
Loss contingency, estimate of possible loss	385
F-18 Program [Member] | U.S. Navy [Member]
Liabilities Commitments And Contingencies [Line Items]
Number Of Aircraft Included Within Backlog	68
Number Of Aircraft Funded in US Government Budget	15
Commercial Aircraft Commitments [Member] | Total Contractual Trade In Value Maximum [Member]
Liabilities Commitments And Contingencies [Line Items]
Other Commitment	2,392	1,605
Commercial Aircraft Commitments [Member] | Net amounts payable to customers related to probable contractual trade-in commitments [Member]
Liabilities Commitments And Contingencies [Line Items]
Other Commitment	446	325
Commercial Aircraft Commitments [Member] | Probable Contractual Trade In Value [Member]
Liabilities Commitments And Contingencies [Line Items]
Other Commitment	446	325
Financing Commitment [Member]
Liabilities Commitments And Contingencies [Line Items]
Other Commitment	16,723	17,987
Financing Commitment [Member] | External Credit Rating, Non Investment Grade [Member]
Liabilities Commitments And Contingencies [Line Items]
Other Commitment	16,723
ULA Additional Capital Commitment [Member]
Liabilities Commitments And Contingencies [Line Items]
Other Commitment	527
Minimum [Member]
Liabilities Commitments And Contingencies [Line Items]
Trade-In Commitment Expiration Date	2015
Maximum [Member]
Liabilities Commitments And Contingencies [Line Items]
Trade-In Commitment Expiration Date	2026
Commercial Airplanes Segment [Member]
Liabilities Commitments And Contingencies [Line Items]
Increase/(Decrease) in Earnings from operations due to change in accounting estimate.				(238)
Defense, Space & Security Segment [Member]
Liabilities Commitments And Contingencies [Line Items]
Increase/(Decrease) in Earnings from operations due to change in accounting estimate.				(187)
KC-46A Tanker [Member]
Liabilities Commitments And Contingencies [Line Items]
Increase/(Decrease) in Earnings from operations due to change in accounting estimate.				$ (425)

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Shareholders' Equity (Schedule Of Changes In Each Class Of Shares) (Details)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Stockholders' Equity Note [Abstract]
Stock Issued During Period, Shares, Treasury Stock Reissued	6,719,270	17,903,704	11,935,423
Common Stock, Number of Shares, Par Value and Other Disclosures [Abstract]
Beginning balance, Common Stock	1,012,261,159	1,012,261,159	1,012,261,159
Ending balance, Common Stock	1,012,261,159	1,012,261,159	1,012,261,159
Treasury Stock, Number of Shares and Restriction Disclosures [Abstract]
Beginning balance, Treasury Stock	264,882,461	256,630,628	267,556,388
Acquired, Treasury Stock	47,370,415	26,155,537	1,009,663
Ending balance, Treasury Stock	305,533,606	264,882,461	256,630,628

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Segment Information (Narrative) (Details) (USD $) In Millions, unless otherwise specified	12 Months Ended
	Dec. 31, 2014 segments	Dec. 31, 2013	Dec. 31, 2012
Segment Reporting Information [Line Items]
Number of Reportable Segments	5
Percent of operating assets located outside the United States	3.00%	3.00%
Earnings from operations associated with our cost and equity method investments	$ 287	$ 214	$ 268
Defense, Space & Security [Member] | Network & Space Systems [Member]
Segment Reporting Information [Line Items]
Earnings from operations associated with our cost and equity method investments	229	203	196
Defense, Space & Security [Member] | U S Government Contracts [Member] | Sales [Member]
Segment Reporting Information [Line Items]
Entity-Wide Revenue, Major Customer, Percentage	30.00%	34.00%	33.00%
Commercial Airplanes [Member]
Segment Reporting Information [Line Items]
Earnings from operations associated with our cost and equity method investments	$ 58	$ 25	$ 77

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Share-Based Compensation And Other Compensation Arrangements (Schedule Of Assumptions Used For Fair Value Of Stock Options Granted) (Details) (USD $)	0 Months Ended
	Feb. 25, 2013	Feb. 27, 2012
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Expected Life (in years)	6 years	6 years
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Volatility Rate	29.00%	29.90%
Expected Dividend Yield	2.60%	2.40%
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Risk Free Interest Rate	1.00%	1.10%
Weighted-Average Grant Date Fair Value Per Share	$ 15.85	$ 16.89

XML

Document And Entity Information (USD $) In Billions, except Share data, unless otherwise specified	12 Months Ended
	Dec. 31, 2014	Feb. 05, 2015
Document And Entity Information [Abstract]
Document Type	10-K
Amendment Flag	false
Document Period End Date	Dec. 31, 2014
Document Fiscal Year Focus	2014
Document Fiscal Period Focus	FY
Entity Registrant Name	BOEING CO
Entity Central Index Key	0000012927
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Well-known Seasoned Issuer	Yes
Entity Common Stock, Shares Outstanding		704,387,613
Entity Public Float	$ 91.8

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Derivative Financial Instruments (Schedule Of Notional Amounts And Fair Values Of Derivative Instruments) (Details) (USD $) In Millions, unless otherwise specified	Dec. 31, 2014		Dec. 31, 2013
Derivative [Line Items]
Notional amounts	$ 3,064	[1]	$ 3,177	[1]
Other assets	41		149
Accrued liabilities	(233)		(142)
Derivative Liability, Fair Value, Amount Offset Against Collateral	(16)		(63)
Derivative Asset, Fair Value, Amount Offset Against Collateral	16		63
Net recorded balance, Other assets	25		86
Net recorded balance, Accrued liabilities	(217)		(79)
Foreign Exchange Contracts [Member] | Designated as Hedging Instrument [Member]
Derivative [Line Items]
Notional amounts	2,586	[1]	2,524	[1]
Other assets	9		122
Accrued liabilities	(204)		(64)
Foreign Exchange Contracts [Member] | Not Designated as Hedging Instrument [Member]
Derivative [Line Items]
Notional amounts	319	[1]	259	[1]
Other assets	21		12
Accrued liabilities	(5)		(35)
Interest Rate Contracts [Member] | Designated as Hedging Instrument [Member]
Derivative [Line Items]
Notional amounts	125	[1]	313	[1]
Other assets	10		13
Commodity Contracts [Member] | Designated as Hedging Instrument [Member]
Derivative [Line Items]
Notional amounts	31	[1]	72	[1]
Other assets	1		2
Accrued liabilities	(24)		(39)
Commodity Contracts [Member] | Not Designated as Hedging Instrument [Member]
Derivative [Line Items]
Notional amounts	3	[1]	9	[1]
Accrued liabilities			$ (4)

[1] Notional amounts represent the gross contract/notional amount of the derivatives outstanding.

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Customer Financing

12 Months Ended

Dec. 31, 2014

Customer Financing [Abstract]

Customer Financing

Customer Financing

Customer financing primarily relates to the Boeing Capital (BCC) segment and consisted of the following at December 31:

	2014			2013
Financing receivables:
Investment in sales-type/finance leases		$1,535			$1,699
Notes	370			587
Total financing receivables	1,905			2,286
Operating lease equipment, at cost, less accumulated depreciation of $571 and $564	1,677			1,734
Gross customer financing	3,582			4,020
Less allowance for losses on receivables	(21		)	(49		)
Total		$3,561			$3,971

The components of investment in sales-type/finance leases at December 31 were as follows:

	2014			2013
Minimum lease payments receivable		$1,475			$1,731
Estimated residual value of leased assets	521			543
Unearned income	(461		)	(575		)
Total		$1,535			$1,699

Operating lease equipment primarily includes large commercial jet aircraft and regional jet aircraft. At December 31, 2014 and 2013, operating lease equipment included $48 and $83 of BCC equipment available for sale or re-lease. At December 31, 2014 and 2013, we had firm lease commitments for $0 and $57 of this equipment.

Financing receivable balances evaluated for impairment at December 31 were as follows:

	2014		2013
Individually evaluated for impairment		$86		$95
Collectively evaluated for impairment	1,819		2,191
Total financing receivables		$1,905		$2,286

We determine a receivable is impaired when, based on current information and events, it is probable that we will be unable to collect amounts due according to the original contractual terms. At December 31, 2014 and 2013, we individually evaluated for impairment customer financing receivables of $86 and $95 and determined that none of these were impaired. As of December 31, 2014 and 2013, we had no material receivables that were greater than 30 days past due and we had no impaired customer financing receivables during 2014.

Income recognition is generally suspended for financing receivables at the date full recovery of income and principal becomes not probable. Income is recognized when financing receivables become contractually current and performance is demonstrated by the customer. For the years ended December 31, 2013 and 2012, interest income recognized on such receivables was $30 and $6, and the average recorded investment in impaired financing receivables was $376 and $466.

The change in the allowance for losses on financing receivables for the years ended December 31, 2014, 2013 and 2012, consisted of the following:

	2014			2013			2012
Beginning balance - January 1		($49	)		($60	)		($70	)
Customer financing valuation benefit	28			11			10
Ending balance - December 31		($21	)		($49	)		($60	)
Collectively evaluated for impairment		($21	)		($49	)		($60	)

The adequacy of the allowance for losses is assessed quarterly. Three primary factors influencing the level of our allowance for losses on customer financing receivables are customer credit ratings, default rates and collateral values. We assign internal credit ratings for all customers and determine the creditworthiness of each customer based upon publicly available information and information obtained directly from our customers. Our rating categories are comparable to those used by the major credit rating agencies.

Our financing receivable balances at December 31 by internal credit rating category are shown below:

Rating categories	2014		2013
BBB		$1,055		$1,091
BB			58
B	633		585
CCC	131		457
Other	86		95
Total carrying value of financing receivables		$1,905		$2,286

At December 31, 2014, our allowance related to receivables with ratings of B and BBB. We applied default rates that averaged 16% and 2% to the exposure associated with those receivables.

Customer Financing Exposure

Customer financing is collateralized by security in the related asset. The value of the collateral is closely tied to commercial airline performance and overall market conditions and may be subject to reduced valuation with market decline. Declines in collateral values are also a significant driver of our allowance for losses. Generally, out-of-production aircraft have experienced greater collateral value declines than in-production aircraft.

Our customer financing portfolio is primarily collateralized by out-of-production 717, 757 and MD-80 aircraft. The majority of customer financing carrying values are concentrated in the following aircraft models at December 31:

	2014		2013
717 Aircraft ($421 and $444 accounted for as operating leases)		$1,562		$1,674
747 Aircraft ($601 and $183 accounted for as operating leases)	601		286
757 Aircraft ($349 and $402 accounted for as operating leases)	370		453
MD-80 Aircraft (Accounted for as sales-type finance leases)	358		411
767 Aircraft ($47 and $60 accounted for as operating leases)	158		207
737 Aircraft ($127 and $138 accounted for as operating leases)	156		210
MD-11 Aircraft (Accounted for as operating leases)	114		220
787 Aircraft (Accounted for as operating leases)			273

Charges related to customer financing asset impairment for the years ended December 31 were as follows:

	2014		2013		2012
Boeing Capital		$139		$67		$73
Other Boeing	45		14		(15		)
Total		$184		$81		$58

Scheduled receipts on customer financing are as follows:

Year	2015		2016		2017		2018		2019		Beyond 2019
Principal payments on notes receivable		$55		$41		$42		$120		$69		$43
Sales-type/finance lease payments receivable	228		225		206		195		182		439
Operating lease equipment payments receivable	505		130		92		70		54		143

XML

Customer Financing (Allowance For Losses On Financing Receivables) (Details) (USD $) In Millions, unless otherwise specified	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Financing Receivable, Allowance for Credit Losses [Roll Forward]
Beginning balance - January 1	$ (49)	$ (60)	$ (70)
Write-offs	28	11	10
Ending balance - December 31	(21)	(49)	(60)
Financing Receivable, Allowance for Credit Loss, Additional Information [Abstract]
Collectively evaluated for impairment	$ (21)	$ (49)	$ (60)

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Other Assets (Details) (USD $) In Millions, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013
Other Assets [Line Items]
Net receivable balance recorded in Other assets	$ 1,317	$ 1,500
Sea Launch Receivables [Member]
Other Assets [Line Items]
Net receivable balance recorded in Other assets	356	356
Sea Launch Receivables [Member] | S.P. Koroley Rocket And Space Corporation Energia [Member]
Other Assets [Line Items]
Net receivable balance recorded in Other assets	223
Sea Launch Receivables [Member] | PO Yuzhnoye Mashinostroitelny Zavod [Member]
Other Assets [Line Items]
Net receivable balance recorded in Other assets	89
Sea Launch Receivables [Member] | KB Yuzhnoye [Member]
Other Assets [Line Items]
Net receivable balance recorded in Other assets	44
Sea Launch Receivables [Member] | Bank Guarantees [Member]
Other Assets [Line Items]
Net receivable balance recorded in Other assets	147
Maximum exposure to loss	147
Sea Launch Receivables [Member] | Partner Loans [Member]
Other Assets [Line Items]
Net receivable balance recorded in Other assets	209
Maximum exposure to loss	$ 209

XML

Consolidated Statements of Comprehensive Income (USD $) In Millions, unless otherwise specified	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Statement of Comprehensive Income [Abstract]
Net earnings	$ 5,446	$ 4,585	$ 3,900
Currency translation adjustments	(97)	(64)	17
Unrealized (loss)/gain on derivative instruments:
Unrealized (loss)/gain arising during period, net of tax of $77, $42, and ($13)	(137)	(75)	25
Reclassification adjustment for loss/(gain) included in net earnings, net of tax of ($4), $9, and $3	7	(17)	(5)
Total unrealized (loss)/gain on derivative instruments, net of tax	(130)	(92)	20
Defined benefit pension plans & other postretirement benefits:
Net actuarial (loss)/gain arising during the period, net of tax of $2,588, ($3,437), and $1,382	(4,612)	6,143	(2,401)
Amortization of actuarial losses included in net periodic pension cost, net of tax of ($367), ($849), and ($752)	661	1,516	1,304
Settlements and curtailments included in net income, net of tax of ($101), ($33), and ($9)	180	59	15
Pension and postretirement (cost)/benefit related to our equity method investments, net of tax $15, ($13), and ($74)	(27)	24	127
Amortization of prior service cost included in net periodic pension cost, net of tax of ($12), ($6), and ($10)	21	10	18
Prior service cost arising during the period, net of tax of $3, $41, and $9	(5)	(74)	(16)
Total defined benefit pension plans & other postretirement benefits, net of tax	(3,782)	7,678	(953)
Other comprehensive (loss)/income, net of tax	(4,009)	7,522	(916)
Comprehensive income related to noncontrolling interests	10	9	3
Comprehensive income, net of tax	$ 1,447	$ 12,116	$ 2,987

XML

Summary Of Significant Accounting Policies

12 Months Ended

Dec. 31, 2014

Accounting Policies [Abstract]

Summary Of Significant Accounting Policies

Summary of Significant Accounting Policies

Principles of Consolidation and Basis of Presentation

The Consolidated Financial Statements included in this report have been prepared by management of The Boeing Company (herein referred to as “Boeing,” the “Company,” “we,” “us,” or “our”). These statements include the accounts of all majority-owned subsidiaries and variable interest entities that are required to be consolidated. All significant intercompany accounts and transactions have been eliminated. Segment data for all years have been adjusted to reflect a realignment of certain programs from the Boeing Military Aircraft (BMA) segment to the Global Services & Support (GS&S) segment and the combination of Other segment with Unallocated items and eliminations. See Note 21.

Standards Issued and Not Yet Implemented

In May 2014, the Financial Accounting Standards Board issued Accounting Standards Update No. 2014-09, Revenue from Contracts with Customers. The new standard is effective for reporting periods beginning after December 15, 2016 and early adoption is not permitted. The comprehensive new standard will supersede existing revenue recognition guidance and require revenue to be recognized when promised goods or services are transferred to customers in amounts that reflect the consideration to which the company expects to be entitled in exchange for those goods or services. Adoption of the new rules could affect the timing of revenue recognition for certain transactions. The guidance permits two implementation approaches, one requiring retrospective application of the new standard with restatement of prior years and one requiring prospective application of the new standard with disclosure of results under old standards. For Boeing the new standard will be effective January 1, 2017 and the Company is currently evaluating the impacts of adoption and the implementation approach to be used.

Use of Estimates

Management makes assumptions and estimates to prepare financial statements in conformity with accounting principles generally accepted in the United States of America. Those assumptions and estimates directly affect the amounts reported in the Consolidated Financial Statements. Significant estimates for which changes in the near term are considered reasonably possible and that may have a material impact on the financial statements are disclosed in these Notes to the Consolidated Financial Statements.

Operating Cycle

For classification of certain current assets and liabilities, we use the duration of the related contract or program as our operating cycle, which is generally longer than one year.

Revenue and Related Cost Recognition

Contract Accounting Contract accounting is used for development and production activities predominantly by Defense, Space & Security (BDS). The majority of business conducted by BDS is performed under contracts with the U.S. government and other customers that extend over several years. Contract accounting involves a judgmental process of estimating total sales and costs for each contract resulting in the development of estimated cost of sales percentages. For each contract, the amount reported as cost of sales is determined by applying the estimated cost of sales percentage to the amount of revenue recognized. When the current estimates of total sales and costs for a contract indicate a loss, a provision for the entire loss on the contract is recognized.

Changes in estimated revenues, cost of sales and the related effect on operating income are recognized using a cumulative catch-up adjustment which recognizes in the current period the cumulative effect of the changes on current and prior periods based on a contract’s percent complete. In 2014, 2013 and 2012 net favorable cumulative catch-up adjustments, including reach-forward losses, across all contracts increased Earnings from operations by $100, $242 and $379, respectively and diluted EPS by $0.10, $0.23 and $0.33, respectively. Significant adjustments during the three years ended December 31, 2014 included a reach-forward loss of $425 on the USAF KC-46A Tanker contract recorded during 2014.

We combine contracts for accounting purposes when they are negotiated as a package with an overall profit margin objective. These essentially represent an agreement to do a single project for a single customer, involve interrelated construction activities with substantial common costs, and are performed concurrently or sequentially. When a group of contracts is combined, revenue and profit are earned uniformly over the performance of the combined contracts. Similarly, we may segment a single contract or group of contracts when a clear economic decision has been made during contract negotiations that would produce different rates of profitability for each element or phase of the contract.

Sales related to fixed-price contracts are recognized as deliveries are made, except for certain fixed-price contracts that require substantial performance over an extended period before deliveries begin, for which sales are recorded based on the attainment of performance milestones. Sales related to contracts in which we are reimbursed for costs incurred plus an agreed upon profit are recorded as costs are incurred. The Federal Acquisition Regulations provide guidance on the types of cost that will be reimbursed in establishing contract price. Contracts may contain provisions to earn incentive and award fees if specified targets are achieved. Incentive and award fees that can be reasonably estimated and are probable are recorded over the performance period of the contract. Incentive and award fees that cannot be reasonably estimated are recorded when awarded.

Program Accounting Our Commercial Airplanes segment predominantly uses program accounting to account for cost of sales related to its programs. Program accounting is applicable to products manufactured for delivery under production-type contracts where profitability is realized over multiple contracts and years. Under program accounting, inventoriable production costs, program tooling and other non-recurring costs, and warranty costs are accumulated and charged to cost of sales by program instead of by individual units or contracts. A program consists of the estimated number of units (accounting quantity) of a product to be produced in a continuing, long-term production effort for delivery under existing and anticipated contracts. The determination of the accounting quantity is limited by the ability to make reasonably dependable estimates of the revenue and cost of existing and anticipated contracts. To establish the relationship of sales to cost of sales, program accounting requires estimates of (a) the number of units to be produced and sold in a program, (b) the period over which the units can reasonably be expected to be produced, and (c) the units’ expected sales prices, production costs, program tooling and other non-recurring costs, and routine warranty costs for the total program.

We recognize sales for commercial airplane deliveries as each unit is completed and accepted by the customer. Sales recognized represent the price negotiated with the customer, adjusted by an escalation formula as specified in the customer agreement. The amount reported as cost of sales is determined by applying the estimated cost of sales percentage for the total remaining program to the amount of sales recognized for airplanes delivered and accepted by the customer. Changes in estimated revenues, cost of sales and the related effects on program margins are recognized prospectively except in cases where the program is determined to have a reach-forward loss in which case the loss is recognized in the current period. See Note 11.

Concession Sharing Arrangements We account for sales concessions to our customers in consideration of their purchase of products and services as a reduction to revenue when the related products and services are delivered. The sales concessions incurred may be partially reimbursed by certain suppliers in accordance with concession sharing arrangements. We record these reimbursements, which are presumed to represent reductions in the price of the vendor’s products or services, as a reduction in Cost of products.

Spare Parts Revenue We recognize sales of spare parts upon delivery and the amount reported as cost of sales is recorded at average cost.

Service Revenue Service revenue is recognized when the service is performed with the exception of U.S. government service agreements, which are accounted for using contract accounting. Service activities primarily include: support agreements associated with military aircraft and helicopter contracts, ongoing maintenance of International Space Station, and technical and flight operation services for commercial aircraft. Service revenue and associated cost of sales from pay-in-advance subscription fees are deferred and recognized as services are rendered.

Financial Services Revenue We record financial services revenue associated with sales-type/finance leases, operating leases, and notes receivable.

Lease and financing revenue arrangements are included in Sales of services on the Consolidated Statements of Operations. For sales-type/finance leases, we record an asset at lease inception. This asset is recorded at the aggregate future minimum lease payments, estimated residual value of the leased equipment, and deferred incremental direct costs less unearned income. Income is recognized over the life of the lease to approximate a level rate of return on the net investment. Residual values, which are reviewed periodically, represent the estimated amount we expect to receive at lease termination from the disposition of the leased equipment. Actual residual values realized could differ from these estimates. Declines in estimated residual value that are deemed other-than-temporary are recognized in the period in which the declines occur.

For operating leases, revenue on leased aircraft and equipment is recorded on a straight-line basis over the term of the lease. Operating lease assets, included in Customer financing, are recorded at cost and depreciated over the period that we project we will hold the asset to an estimated residual value, using the straight-line method. We periodically review our estimates of residual value and recognize forecasted changes by prospectively adjusting depreciation expense.

For notes receivable, notes are recorded net of any unamortized discounts and deferred incremental direct costs. Interest income and amortization of any discounts are recorded ratably over the related term of the note.

Reinsurance Revenue Our wholly-owned insurance subsidiary, Astro Ltd., participates in a reinsurance pool for workers’ compensation. The member agreements and practices of the reinsurance pool minimize any participating members’ individual risk. Reinsurance revenues were $135, $160 and $129 during 2014, 2013 and 2012, respectively. Reinsurance costs related to premiums and claims paid to the reinsurance pool were $144, $147 and $128 during 2014, 2013 and 2012, respectively. Revenues and costs are presented net in Cost of sales in the Consolidated Statements of Operations.

Fleet Support

We provide assistance and services to facilitate efficient and safe aircraft operation to the operators of all our commercial airplane models. Collectively known as fleet support services, these activities and services include flight and maintenance training, field service support, engineering services, and technical data and documents. Fleet support activity begins prior to aircraft delivery as the customer receives training, manuals, and technical consulting support. This activity continues throughout the aircraft’s operational life. Services provided after delivery include field service support, consulting on maintenance, repair, and operational issues brought forth by the customer or regulators, updating manuals and engineering data, and the issuance of service bulletins that impact the entire model’s fleet. Field service support involves our personnel located at customer facilities providing and coordinating fleet support activities and requests. The costs for fleet support are expensed as incurred as Cost of services.

Research and Development

Research and development includes costs incurred for experimentation, design, and testing, as well as bid and proposal efforts related to government products and services which are expensed as incurred unless the costs are related to certain contractual arrangements with customers. Costs that are incurred pursuant to such contractual arrangements are recorded over the period that revenue is recognized, consistent with our contract accounting policy. We have certain research and development arrangements that meet the requirement for best efforts research and development accounting. Accordingly, the amounts funded by the customer are recognized as an offset to our research and development expense rather than as contract revenues. Research and development expense included bid and proposal costs of $289, $285 and $326 in 2014, 2013 and 2012, respectively.

We have established cost sharing arrangements with some suppliers for the 787 program. Our cost sharing arrangements state that the supplier contributions are for reimbursements of costs we incur for experimentation, basic design, and testing activities during the 787 development. In each arrangement, we retain substantial rights to the 787 part or component covered by the arrangement. The amounts received from these cost sharing arrangements are recorded as a reduction to research and development expenses since we have no obligation to refund any amounts received per the arrangements regardless of the outcome of the development efforts. Specifically, under the terms of each agreement, payments received from suppliers for their share of the costs are typically based on milestones and are recognized as earned when we achieve the milestone events and no ongoing obligation on our part exists. In the event we receive a milestone payment prior to the completion of the milestone, the amount is classified in Accrued liabilities until earned.

Share-Based Compensation

We provide various forms of share-based compensation to our employees. For awards settled in shares, we measure compensation expense based on the grant-date fair value net of estimated forfeitures. For awards settled in cash, or that may be settled in cash, we measure compensation expense based on the fair value at each reporting date net of estimated forfeitures. The expense is recognized over the requisite service period, which is generally the vesting period of the award.

Income Taxes

Provisions for federal, state, and non-U.S. income taxes are calculated on reported Earnings before income taxes based on current tax law and also include, in the current period, the cumulative effect of any changes in tax rates from those used previously in determining deferred tax assets and liabilities. Such provisions differ from the amounts currently receivable or payable because certain items of income and expense are recognized in different time periods for financial reporting purposes than for income tax purposes. Significant judgment is required in determining income tax provisions and evaluating tax positions.

The accounting for uncertainty in income taxes requires a more-likely-than-not threshold for financial statement recognition and measurement of tax positions taken or expected to be taken in a tax return. We record a liability for the difference between the benefit recognized and measured for financial statement purposes and the tax position taken or expected to be taken on our tax return. To the extent that our assessment of such tax positions changes, the change in estimate is recorded in the period in which the determination is made. Tax-related interest and penalties are classified as a component of Income tax expense.

Postretirement Plans

The majority of our employees are earning benefits under defined benefit pension plans. In 2014, we announced changes to our retirement plans whereby nonunion and the majority of union employees currently participating in defined benefit pension plans will transition in 2016 to a company-funded defined contribution retirement savings plan. We also provide postretirement benefit plans other than pensions, consisting principally of health care coverage to eligible retirees and qualifying dependents. Benefits under the pension and other postretirement benefit plans are generally based on age at retirement and years of service and, for some pension plans, benefits are also based on the employee’s annual earnings. The net periodic cost of our pension and other postretirement plans is determined using the projected unit credit method and several actuarial assumptions, the most significant of which are the discount rate, the long-term rate of asset return, and medical trend (rate of growth for medical costs). A portion of net periodic pension and other postretirement income or expense is not recognized in net earnings in the year incurred because it is allocated to production as product costs, and reflected in inventory at the end of a reporting period. Actuarial gains and losses, which occur when actual experience differs from actuarial assumptions, are reflected in Shareholders’ equity (net of taxes). If actuarial gains and losses exceed ten percent of the greater of plan assets or plan liabilities we amortize them over the average future service period of employees. The funded status of our pension and postretirement plans is reflected on the Consolidated Statements of Financial Position.

Postemployment Plans

We record a liability for postemployment benefits, such as severance or job training, when payment is probable, the amount is reasonably estimable, and the obligation relates to rights that have vested or accumulated.

Environmental Remediation

We are subject to federal and state requirements for protection of the environment, including those for discharge of hazardous materials and remediation of contaminated sites. We routinely assess, based on in-depth studies, expert analyses and legal reviews, our contingencies, obligations, and commitments for remediation of contaminated sites, including assessments of ranges and probabilities of recoveries from other responsible parties and/or insurance carriers. Our policy is to accrue and charge to current expense identified exposures related to environmental remediation sites when it is probable that a liability has been incurred and the amount can be reasonably estimated. The amount of the liability is based on our best estimate or the low end of a range of reasonably possible exposure for investigation, cleanup, and monitoring costs to be incurred. Estimated remediation costs are not discounted to present value as the timing of payments cannot be reasonably estimated. We may be able to recover a portion of the remediation costs from insurers or other third parties. Such recoveries are recorded when realization of the claim for recovery is deemed probable.

Cash and Cash Equivalents

Cash and cash equivalents consist of highly liquid instruments, such as commercial paper, time deposits, and other money market instruments, which have original maturities of three months or less. We aggregate our cash balances by bank where conditions for right of set-off are met, and reclassify any negative balances, consisting mainly of uncleared checks, to Accounts payable. Negative balances reclassified to Accounts payable were $241 and $108 at December 31, 2014 and 2013.

Inventories

Inventoried costs on commercial aircraft programs and long-term contracts include direct engineering, production and tooling and other non-recurring costs, and applicable overhead, which includes fringe benefits, production related indirect and plant management salaries and plant services, not in excess of estimated net realizable value. To the extent a material amount of such costs are related to an abnormal event or are fixed costs not appropriately attributable to our programs or contracts, they are expensed in the current period rather than inventoried. Inventoried costs include amounts relating to programs and contracts with long-term production cycles, a portion of which is not expected to be realized within one year. Included in inventory for federal government contracts is an allocation of allowable costs related to manufacturing process reengineering.

Commercial aircraft programs inventory includes deferred production costs and supplier advances. Deferred production costs represent actual costs incurred for production of early units that exceed the estimated average cost of all units in the program accounting quantity. Higher production costs are experienced at the beginning of a new or derivative airplane program. Units produced early in a program require substantially more effort (labor and other resources) than units produced later in a program because of volume efficiencies and the effects of learning. We expect that these deferred costs will be fully recovered when all units included in the accounting quantity are delivered as the expected unit cost for later deliveries is below the estimated average cost of all units in the program. Supplier advances represent payments for parts we have contracted to receive from suppliers in the future. As parts are received, supplier advances are amortized to work in process.

The determination of net realizable value of long-term contract costs is based upon quarterly reviews that estimate costs to be incurred to complete all contract requirements. When actual contract costs and the estimate to complete exceed total estimated contract revenues, a loss provision is recorded. The determination of net realizable value of commercial aircraft program costs is based upon quarterly program reviews that estimate revenue and cost to be incurred to complete the program accounting quantity. When estimated costs to complete exceed estimated program revenues to go, a program loss provision is recorded in the current period for the estimated loss on all undelivered units in the accounting quantity.

Used aircraft purchased by the Commercial Airplanes segment and general stock materials are stated at cost not in excess of net realizable value. See ‘Aircraft Valuation’ within this Note for a discussion of our valuation of used aircraft. Spare parts inventory is stated at lower of average unit cost or market. We review our commercial spare parts and general stock materials quarterly to identify impaired inventory, including excess or obsolete inventory, based on historical sales trends, expected production usage, and the size and age of the aircraft fleet using the part. Impaired inventories are charged to Cost of products in the period the impairment occurs.

Included in inventory for commercial aircraft programs are amounts paid or credited in cash, or other consideration to certain airline customers, that are referred to as early issue sales consideration. Early issue sales consideration is recognized as a reduction to revenue when the delivery of the aircraft under contract occurs. If an airline customer does not perform and take delivery of the contracted aircraft, we believe that we would have the ability to recover amounts paid. However, to the extent early issue sales consideration exceeds advances and is not considered to be otherwise recoverable, it would be written off in the current period.

We net advances and progress billings on long-term contracts against inventory in the Consolidated Statements of Financial Position. Advances and progress billings in excess of related inventory are reported in Advances and billings in excess of related costs.

Precontract Costs

We may, from time to time, incur costs in excess of the amounts required for existing contracts. If we determine the costs are probable of recovery from future orders, then we capitalize the precontract costs we incur, excluding start-up costs which are expensed as incurred. Capitalized precontract costs are included in Inventories, net of advances and progress billings, in the accompanying Consolidated Statements of Financial Position. Should future orders not materialize or we determine the costs are no longer probable of recovery, the capitalized costs would be written off.

Property, Plant and Equipment

Property, plant and equipment are recorded at cost, including applicable construction-period interest, less accumulated depreciation and are depreciated principally over the following estimated useful lives: new buildings and land improvements, from 10 to 40 years; and new machinery and equipment, from 3 to 20 years. The principal methods of depreciation are as follows: buildings and land improvements, 150% declining balance; and machinery and equipment, sum-of-the-years’ digits. Capitalized internal use software is included in Other assets and amortized using the straight line method over 5 years. We periodically evaluate the appropriateness of remaining depreciable lives assigned to long-lived assets, including assets that may be subject to a management plan for disposition.

Long-lived assets held for sale are stated at the lower of cost or fair value less cost to sell. Long-lived assets held for use are subject to an impairment assessment whenever events or changes in circumstances indicate that the carrying amount may not be recoverable. If the carrying value is no longer recoverable based upon the undiscounted future cash flows of the asset, the amount of the impairment is the difference between the carrying amount and the fair value of the asset.

Asset Retirement Obligations

We record all known asset retirement obligations for which the liability’s fair value can be reasonably estimated, including certain asbestos removal, asset decommissioning and contractual lease restoration obligations. Recorded amounts are not material.

We also have known conditional asset retirement obligations, such as certain asbestos remediation and asset decommissioning activities to be performed in the future, that are not reasonably estimable due to insufficient information about the timing and method of settlement of the obligation. Accordingly, these obligations have not been recorded in the Consolidated Financial Statements. A liability for these obligations will be recorded in the period when sufficient information regarding timing and method of settlement becomes available to make a reasonable estimate of the liability’s fair value. In addition, there may be conditional asset retirement obligations that we have not yet discovered (e.g. asbestos may exist in certain buildings but we have not become aware of it through the normal course of business), and therefore, these obligations also have not been included in the Consolidated Financial Statements.

Goodwill and Other Acquired Intangibles

Goodwill and other acquired intangible assets with indefinite lives are not amortized, but are tested for impairment annually and when an event occurs or circumstances change such that it is more likely than not that an impairment may exist. Our annual testing date is April 1.

We test goodwill for impairment by performing a qualitative assessment or using a two-step impairment process. If we choose to perform a qualitative assessment and determine it is more likely than not that the carrying value of the net assets is more than the fair value of the related operations, the two-step impairment process is then performed; otherwise, no further testing is required. For operations where the two-step impairment process is used, we first compare the carrying value of net assets to the fair value of the related operations. If the fair value is determined to be less than carrying value, a second step is performed to compute the amount of the impairment. In this process, a fair value for goodwill is estimated, based in part on the fair value of the operations, and is compared to its carrying value. The shortfall of the fair value below carrying value represents the amount of goodwill impairment.

Indefinite-lived intangibles consist of brand and trade names acquired in business combinations. We test these intangibles for impairment by comparing their carrying value to current projections of discounted cash flows attributable to the brand and trade names. Any excess carrying value over the amount of discounted cash flows represents the amount of the impairment.

Our finite-lived acquired intangible assets are amortized on a straight-line basis over their estimated useful lives as follows: developed technology, from 5 to 14 years; product know-how, from 5 to 30 years; customer base, from 3 to 19 years; distribution rights, from 5 to 27 years; and other, from 3 to 32 years. We evaluate the potential impairment of finite-lived acquired intangible assets whenever events or changes in circumstances indicate that the carrying amount may not be recoverable. If the carrying value is no longer recoverable based upon the undiscounted future cash flows of the asset, the amount of the impairment is the difference between the carrying amount and the fair value of the asset.

Investments

Time deposits are held-to-maturity investments that are carried at cost.

The equity method of accounting is used to account for investments for which we have the ability to exercise significant influence, but not control, over an investee. Significant influence is generally deemed to exist if we have an ownership interest in the voting stock of an investee of between 20% and 50%.

We classify investment income and loss on our Consolidated Statements of Operations based on whether the investment is operating or non-operating in nature. Operating investments align strategically and are integrated with our operations. Earnings from operating investments, including our share of income or loss from equity method investments, dividend income from certain cost method investments, and any impairments or gain/loss on the disposition of these investments, are recorded in Income from operating investments, net. Non-operating investments are those we hold for non-strategic purposes. Earnings from non-operating investments, including interest and dividends on marketable securities, and any impairments or gain/loss on the disposition of these investments are recorded in Other income/(expense), net.

Derivatives

All derivative instruments are recognized in the financial statements and measured at fair value regardless of the purpose or intent of holding them. We use derivative instruments to principally manage a variety of market risks. For derivatives designated as hedges of the exposure to changes in fair value of the recognized asset or liability or a firm commitment (referred to as fair value hedges), the gain or loss is recognized in earnings in the period of change together with the offsetting loss or gain on the hedged item attributable to the risk being hedged. The effect of that accounting is to include in earnings the extent to which the hedge is not effective in achieving offsetting changes in fair value. For our cash flow hedges, the effective portion of the derivative’s gain or loss is initially reported in comprehensive income and is subsequently reclassified into earnings in the same period or periods during which the hedged forecasted transaction affects earnings. The ineffective portion of the gain or loss of a cash flow hedge is reported in earnings immediately. We also hold certain instruments for economic purposes that are not designated for hedge accounting treatment. For these derivative instruments, the changes in their fair value are also recorded in earnings immediately.

Aircraft Valuation

Used aircraft under trade-in commitments and aircraft under repurchase commitments In conjunction with signing a definitive agreement for the sale of new aircraft (Sale Aircraft), we have entered into trade-in commitments with certain customers that give them the right to trade in used aircraft at a specified price upon the purchase of Sale Aircraft. Additionally, we have entered into contingent repurchase commitments with certain customers wherein we agree to repurchase the Sale Aircraft at a specified price, generally 10 to 15 years after delivery of the Sale Aircraft. Our repurchase of the Sale Aircraft is contingent upon a future, mutually acceptable agreement for the sale of additional new aircraft. If we execute an agreement for the sale of additional new aircraft, and if the customer exercises its right to sell the Sale Aircraft to us, a contingent repurchase commitment would become a trade-in commitment. Our historical experience is that contingent repurchase commitments infrequently become trade-in commitments.

Exposure related to trade-in commitments may take the form of:

(1) adjustments to revenue for the difference between the contractual trade-in price in the definitive agreement and our best estimate of the fair value of the trade-in aircraft as of the date of such agreement, which would be recognized upon delivery of the Sale Aircraft, and/or

(2) charges to cost of products for adverse changes in the fair value of trade-in aircraft that occur subsequent to signing of a definitive agreement for Sale Aircraft but prior to the purchase of the used trade-in aircraft. Estimates based on current aircraft values would be included in Accrued liabilities.

The fair value of trade-in aircraft is determined using aircraft-specific data such as model, age and condition, market conditions for specific aircraft and similar models, and multiple valuation sources. This process uses our assessment of the market for each trade-in aircraft, which in most instances begins years before the return of the aircraft. There are several possible markets in which we continually pursue opportunities to place used aircraft. These markets include, but are not limited to, the resale market, which could potentially include the cost of long-term storage; the leasing market, with the potential for refurbishment costs to meet the leasing customer’s requirements; or the scrap market. Trade-in aircraft valuation varies significantly depending on which market we determine is most likely for each aircraft. On a quarterly basis, we update our valuation analysis based on the actual activities associated with placing each aircraft into a market. This quarterly valuation process yields results that are typically lower than residual value estimates by independent sources and tends to more accurately reflect results upon the actual placement of the aircraft.

Used aircraft acquired by the Commercial Airplanes segment are included in Inventories at the lower of cost or market as it is our intent to sell these assets. To mitigate costs and enhance marketability, aircraft may be placed on operating lease. While on operating lease, the assets are included in Customer financing.

Customer financing Customer financing includes operating lease equipment, notes receivable, and sales-type/finance leases. Sales-type/finance leases are treated as receivables, and allowances for losses are established as necessary.

We assess the fair value of the assets we own, including equipment under operating leases, assets held for sale or re-lease, and collateral underlying receivables, to determine if their fair values are less than the related assets’ carrying values. Differences between carrying values and fair values of sales-type/finance leases and notes and other receivables, as determined by collateral value, are considered in determining the allowance for losses on receivables.

We use a median calculated from published collateral values from multiple third-party aircraft value publications based on the type and age of the aircraft to determine the fair value of aircraft. Under certain circumstances, we apply judgment based on the attributes of the specific aircraft or equipment, usually when the features or use of the aircraft vary significantly from the more generic aircraft attributes covered by outside publications.

Impairment review for assets under operating leases and held for sale or re-lease We evaluate for impairment assets under operating lease or assets held for sale or re-lease when events or changes in circumstances indicate that the expected undiscounted cash flow from the asset may be less than the carrying value. We use various assumptions when determining the expected undiscounted cash flow, including our intentions for how long we will hold an asset subject to operating lease before it is sold, the expected future lease rates, lease terms, residual value of the asset, periods in which the asset may be held in preparation for a follow-on lease, maintenance costs, remarketing costs and the remaining economic life of the asset. We record assets held for sale at the lower of carrying value or fair value less costs to sell.

When we determine that impairment is indicated for an asset, the amount of impairment expense recorded is the excess of the carrying value over the fair value of the asset.

Allowance for losses on customer financing receivables We record the potential impairment of customer financing receivables in a valuation account, the balance of which is an accounting estimate of probable but unconfirmed losses. The allowance for losses on receivables relates to two components of receivables: (a) receivables that are evaluated individually for impairment and (b) all other receivables.

We determine a receivable is impaired when, based on current information and events, it is probable that we will be unable to collect amounts due according to the original contractual terms of the receivable agreement, without regard to any subsequent restructurings. Factors considered in assessing collectability include, but are not limited to, a customer’s extended delinquency, requests for restructuring and filings for bankruptcy. We determine a specific impairment allowance based on the difference between the carrying value of the receivable and the estimated fair value of the related collateral we would expect to realize.

We review the adequacy of the allowance attributable to the remaining receivables (after excluding receivables subject to a specific impairment allowance) by assessing both the collateral exposure and the applicable cumulative default rate. Collateral exposure for a particular receivable is the excess of the carrying value of the receivable over the fair value of the related collateral. A receivable with an estimated fair value in excess of the carrying value is considered to have no collateral exposure. The applicable cumulative default rate is determined using two components: customer credit ratings and weighted average remaining contract term. Internally assigned credit ratings, our credit quality indicator, are determined for each customer in the portfolio. Those ratings are updated based upon public information and information obtained directly from our customers.

We have entered into agreements with certain customers that would entitle us to look beyond the specific collateral underlying the receivable for purposes of determining the collateral exposure as described above. Should the proceeds from the sale of the underlying collateral asset resulting from a default condition be insufficient to cover the carrying value of our receivable (creating a shortfall condition), these agreements would, for example, permit us to take the actions necessary to sell or retain certain other assets in which the customer has an equity interest and use the proceeds to cover the shortfall.

Each quarter we review customer credit ratings, published historical credit default rates for different rating categories, and multiple third-party aircraft value publications as a basis to validate the reasonableness of the allowance for losses on receivables. There can be no assurance that actual results will not differ from estimates or that the consideration of these factors in the future will not result in an increase or decrease to the allowance for losses on receivables.

Warranties

In conjunction with certain product sales, we provide warranties that cover factors such as non-conformance to specifications and defects in material and design. The majority of our warranties are issued by our Commercial Airplanes segment. Generally, aircraft sales are accompanied by a three to four-year standard warranty for systems, accessories, equipment, parts, and software manufactured by us or manufactured to certain standards under our authorization. These warranties are included in the programs’ estimate at completion. On occasion we have made commitments beyond the standard warranty obligation to correct fleet-wide major issues of a particular model, resulting in additional accrued warranty expense. Warranties issued by our BDS segments principally relate to sales of military aircraft and weapons hardware and are included in the contract cost estimates. These sales are generally accompanied by a six to twelve-month warranty period and cover systems, accessories, equipment, parts, and software manufactured by us to certain contractual specifications. Estimated costs related to standard warranties are recorded in the period in which the related product sales occur. The warranty liability recorded at each balance sheet date reflects the estimated number of months of warranty coverage outstanding for products delivered times the average of historical monthly warranty payments, as well as additional amounts for certain major warranty issues that exceed a normal claims level. Estimated costs of these additional warranty issues are considered changes to the initial liability estimate.

We provide guarantees to certain commercial airplane customers which include compensation provisions for failure to meet specified aircraft performance targets. We account for these performance guarantees as warranties. The estimated liability for these warranties is based on known and anticipated operational characteristics and forecasted customer operation of the aircraft relative to contractually specified performance targets, and anticipated settlements when contractual remedies are not specified. Estimated payments are recorded as a reduction of revenue at delivery of the related aircraft. We have agreements that require certain suppliers to compensate us for amounts paid to customers for failure of supplied equipment to meet specified performance targets. Claims against suppliers under these agreements are included in Inventories and recorded as a reduction in Cost of products at delivery of the related aircraft. These performance warranties and claims against suppliers are included in the programs’ estimate at completion.

Supplier Penalties

We record an accrual for supplier penalties when an event occurs that makes it probable that a supplier penalty will be incurred and the amount is reasonably estimable. Until an event occurs, we fully anticipate accepting all products procured under production-related contracts.

Guarantees

We record a liability in Accrued liabilities for the fair value of guarantees that are issued or modified after December 31, 2002. For a residual value guarantee where we received a cash premium, the liability is equal to the cash premium received at the guarantee’s inception. For credit guarantees, the liability is equal to the present value of the expected loss. We determine the expected loss by multiplying the creditor’s default rate by the guarantee amount reduced by the expected recovery, if applicable, for each future period the credit guarantee will be outstanding. If at inception of a guarantee, we determine there is a probable related contingent loss, we will recognize a liability for the greater of (a) the fair value of the guarantee as described above or (b) the probable contingent loss amount.

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Summary of Business Segment Data (Notes)

12 Months Ended

Dec. 31, 2014

Segment Reporting, Disclosure of Entity's Reportable Segments [Abstract]

Summary Of Business Segment Data

The Boeing Company and Subsidiaries

Notes to the Consolidated Financial Statements

Summary of Business Segment Data

(Dollars in millions)
Years ended December 31,	2014			2013			2012
Revenues:
Commercial Airplanes		$59,990			$52,981			$49,127
Defense, Space & Security:
Boeing Military Aircraft	13,511			15,285			15,388
Network & Space Systems	8,003			8,512			7,911
Global Services & Support	9,367			9,400			9,308
Total Defense, Space & Security	30,881			33,197			32,607
Boeing Capital	416			408			468
Unallocated items, eliminations and other	(525		)	37			(504		)
Total revenues		$90,762			$86,623			$81,698
Earnings from operations:
Commercial Airplanes		$6,411			$5,795			$4,711
Defense, Space & Security:
Boeing Military Aircraft	1,304			1,504			1,487
Network & Space Systems	698			719			562
Global Services & Support	1,131			1,012			1,019
Total Defense, Space & Security	3,133			3,235			3,068
Boeing Capital	92			107			88
Unallocated items, eliminations and other	(2,163		)	(2,575		)	(1,577		)
Earnings from operations		$7,473			$6,562			$6,290
Other (loss)/income, net	(3		)	56			62
Interest and debt expense	(333		)	(386		)	(442		)
Earnings before income taxes	7,137			6,232			5,910
Income tax expense	(1,691		)	(1,646		)	(2,007		)
Net earnings from continuing operations	5,446			4,586			3,903
Net loss on disposal of discontinued operations, net of taxes of $0, $0, $2				(1		)	(3		)
Net earnings		$5,446			$4,585			$3,900

This information is an integral part of the Notes to the Consolidated Financial Statements. See Note 21 for further segment results.

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Arrangements With Off-Balance Sheet Risk

12 Months Ended

Dec. 31, 2014

Guarantees [Abstract]

Arrangements With Off-Balance Sheet Risk

Arrangements with Off-Balance Sheet Risk

We enter into arrangements with off-balance sheet risk in the normal course of business, primarily in the form of guarantees.

The following table provides quantitative data regarding our third party guarantees. The maximum potential payments represent a “worst-case scenario,” and do not necessarily reflect amounts that we expect to pay. Estimated proceeds from collateral and recourse represent the anticipated values of assets we could liquidate or receive from other parties to offset our payments under guarantees. The carrying amount of liabilities represents the amount included in Accrued liabilities.

	Maximum Potential Payments				Estimated Proceeds from Collateral/ Recourse				Carrying Amount of Liabilities
December 31,	2014		2013		2014		2013		2014		2013
Contingent repurchase commitments		$1,375		$1,872		$1,364		$1,871		$5		$5
Indemnifications to ULA:
Contributed Delta program launch inventory	114		127
Contract pricing	261		261						7		7
Other Delta contracts	150		227								8
Other indemnifications	63		106						20		28
Credit guarantees	30		35		27		27		2		2

Contingent Repurchase Commitments The repurchase price specified in contingent repurchase commitments is generally lower than the expected fair value at the specified repurchase date. Estimated proceeds from collateral/recourse in the table above represent the lower of the contracted repurchase price or the expected fair value of each aircraft at the specified repurchase date.

Indemnifications to ULA In 2006, we agreed to indemnify ULA through December 31, 2020 against potential non-recoverability and non-allowability of $1,360 of Boeing Delta launch program inventory included in contributed assets plus $1,860 of inventory subject to an inventory supply agreement which ends on March 31, 2021. Since inception, ULA has consumed $1,246 of the $1,360 of inventory that was contributed by us and has yet to consume $114. ULA has made advance payments of $1,609 to us and we have recorded revenues and cost of sales of $1,287 under the inventory supply agreement through December 31, 2014.

We agreed to indemnify ULA against potential losses that ULA may incur in the event ULA is unable to obtain certain additional contract pricing from the U.S. Air Force (USAF) for four satellite missions. We believe ULA is entitled to additional contract pricing. In December 2008, ULA submitted a claim to the USAF to re-price the contract value for two satellite missions. In March 2009, the USAF issued a denial of that claim. In June 2009, ULA filed a notice of appeal, and in October 2009, ULA filed a complaint before the Armed Services Board of Contract Appeals (ASBCA) for a contract adjustment for the price of the two satellite missions. In September 2009, the USAF exercised its option for a third satellite mission. During the third quarter of 2010, ULA submitted a claim to the USAF to re-price the contract value of the third mission. The USAF did not exercise an option for a fourth mission prior to the expiration of the contract. In March 2011, ULA filed a notice of appeal before the ASBCA, seeking to re-price the third mission. On November 20, 2013, the ASBCA denied USAF motions for summary judgment against ULA in large part, leaving ULA’s claims against the USAF substantially intact. The hearing before the ASBCA concluded on December 20, 2013. The parties filed their final post-hearing briefs in May 2014. The ASBCA may now issue a decision at any time. If ULA is ultimately unsuccessful in obtaining additional pricing, we may be responsible for an indemnification payment up to $261 and may record up to $278 in pre-tax losses associated with the three missions.

Potential payments for Other Delta contracts include $85 related to deferred support costs. In June 2011, the Defense Contract Management Agency (DCMA) notified ULA that it had determined that $271 of deferred support costs are not recoverable under government contracts. In December 2011, the DCMA notified ULA of the potential non-recoverability of an additional $114 of deferred production costs. ULA and Boeing believe that all costs are recoverable and in November 2011, ULA filed a certified claim with the USAF for collection of deferred support and production costs. The USAF issued a final decision denying ULA’s certified claim in May 2012. On June 14, 2012, Boeing and ULA filed a suit in the Court of Federal Claims seeking recovery of the deferred support and production costs from the U.S. government. On November 9, 2012, the U.S. government filed an answer to our claim and asserted a counterclaim for credits that it alleges were offset by deferred support cost invoices. We believe that the U.S. government’s counterclaim is without merit, and have filed an answer challenging it on multiple grounds. The litigation is in the discovery phase and the Court has not yet set a trial date. If, contrary to our belief, it is determined that some or all of the deferred support or production costs are not recoverable, we could be required to record pre-tax losses and make indemnification payments to ULA for up to $317 of the costs questioned by the DCMA.

Other Indemnifications As part of the 2004 sale agreement with General Electric Capital Corporation related to the sale of BCC’s Commercial Financial Services business, BCC is involved in a loss sharing arrangement for losses on transferred portfolio assets, such as asset sales, provisions for loss or asset impairment charges offset by gains from asset sales. At December 31, 2014 and 2013, our maximum future cash exposure to losses associated with the loss sharing arrangement was $63 and $106 and our accrued liability under the loss sharing arrangement was $20 and $28.

In conjunction with our sales of Electron Dynamic Devices, Inc. and Rocketdyne Propulsion and Power businesses and our Commercial Airplanes facilities in Wichita, Kansas and Tulsa and McAlester, Oklahoma, we agreed to indemnify, for an indefinite period, the buyers for costs relating to pre-closing environmental conditions and certain other items. It is impossible to assess the potential number of future claims that may be asserted under these indemnifications, nor the amounts thereof (if any). As a result, we cannot estimate the maximum potential amount of future payments under these indemnities and therefore, no liability has been recorded. To the extent that claims have been made under these indemnities and/or are probable and reasonably estimable, liabilities associated with these indemnities are included in the environmental liability disclosure in Note 11.

Credit Guarantees We have issued credit guarantees, principally to facilitate the sale and/or financing of commercial aircraft. Under these arrangements, we are obligated to make payments to a guaranteed party in the event that lease or loan payments are not made by the original lessee or debtor or certain specified services are not performed. A substantial portion of these guarantees has been extended on behalf of original lessees or debtors with less than investment-grade credit. Our commercial aircraft credit guarantees are collateralized by the underlying commercial aircraft and certain other assets. Current outstanding credit guarantees expire within the next six years.

Industrial Revenue Bonds

Industrial Revenue Bonds (IRB) issued by the City of Wichita were used to finance the purchase and/or construction of real and personal property at our Wichita site. Tax benefits associated with IRBs include a ten-year property tax abatement and a sales tax exemption from the Kansas Department of Revenue. We record the property on our Consolidated Statements of Financial Position, along with a capital lease obligation to repay the proceeds of the IRB. We have also purchased the IRBs and therefore are the bondholders as well as the borrower/lessee of the property purchased with the IRB proceeds.

The capital lease obligation and IRB asset are recorded net in the Consolidated Statements of Financial Position. As of December 31, 2014 and 2013, the assets and liabilities associated with the City of Wichita IRBs were $638 and $690.

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Property, Plant And Equipment

12 Months Ended

Dec. 31, 2014

Property, Plant and Equipment [Abstract]

Property, Plant And Equipment

Property, Plant and Equipment

Property, plant and equipment at December 31 consisted of the following:

	2014			2013
Land		$560			$562
Buildings and land improvements	11,767			11,068
Machinery and equipment	12,867			12,376
Construction in progress	1,502			1,288
Gross property, plant and equipment	26,696			25,294
Less accumulated depreciation	(15,689		)	(15,070		)
Total		$11,007			$10,224

Depreciation expense was $1,414, $1,338 and $1,248 for the years ended December 31, 2014, 2013 and 2012, respectively. Interest capitalized during the years ended December 31, 2014, 2013 and 2012 totaled $102, $87 and $74, respectively.

Rental expense for leased properties was $277, $287 and $276, for the years ended December 31, 2014, 2013 and 2012, respectively. At December 31, 2014, minimum rental payments under capital leases aggregated $158. Minimum rental payments under operating leases with initial or remaining terms of one year or more aggregated $1,486, net of sublease payments of $17 at December 31, 2014. Payments due under operating and capital leases net of sublease amounts and non-cancellable future rentals during the next five years are as follows:

	2015		2016		2017		2018		2019
Minimum operating lease payments, net of sublease amounts		$221		$203		$175		$146		$123
Minimum capital lease payments, net of sublease amounts	56		40		33		14		3

Accounts payable related to purchases of property, plant and equipment were $299 and $213 for the years ended December 31, 2014 and 2013.

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Customer Financing (Scheduled Receipts On Customer Financing) (Details) (Customer Financing [Member], USD $) In Millions, unless otherwise specified	Dec. 31, 2014
Customer Financing [Member]
Principal payments on notes receivable [Abstract]
2015	$ 55
2016	41
2017	42
2018	120
2019	69
Beyond 2019	43
Sales-type/finance lease payments receivable [Abstract]
2015	228
2016	225
2017	206
2018	195
2019	182
Beyond 2019	439
Operating lease equipment payments receivable [Abstract]
2015	505
2016	130
2017	92
2018	70
2019	54
Beyond 2019	$ 143

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Income Taxes

12 Months Ended

Dec. 31, 2014

Income Tax Disclosure [Abstract]

Income Taxes

Income Taxes

The components of earnings before income taxes were:

Years ended December 31,	2014		2013		2012
U.S.		$6,829		$5,946		$5,647
Non-U.S.	308		286		263
Total		$7,137		$6,232		$5,910

Income tax expense/(benefit) consisted of the following:

Years ended December 31,	2014			2013			2012
Current tax expense
U.S. federal		$676			($82	)		$657
Non-U.S.	91			76			52
U.S. state	69			11			19
Total current	836			5			728
Deferred tax expense
U.S. federal	828			1,531			1,209
Non-U.S.	34			41			(13		)
U.S. state	(7		)	69			83
Total deferred	855			1,641			1,279
Total income tax expense		$1,691			$1,646			$2,007

Net income tax payments were $355, $209 and $410 in 2014, 2013 and 2012, respectively.

The following is a reconciliation of the U.S. federal statutory tax rate of 35% to our effective income tax rates:

Years ended December 31,	2014		2013		2012
U.S. federal statutory tax	35.0	%	35.0	%	35.0	%
Research and development credits (1)	(2.9	)	(4.9	)	0.8
Amendments to the R&E regulations (2)			(3.4	)
Tax basis adjustment (3)	(3.6	)
Tax on international activities	(0.2	)	(0.1	)	(1.2	)
Tax deductible dividends	(0.7	)	(0.6	)	(0.7	)
State income tax provision, net of effect on U.S. federal tax	0.7		0.4		0.8
Federal audit settlements (4)	(3.6	)
Other provision adjustments	(1.0	)			(0.7	)
Effective income tax rate	23.7	%	26.4	%	34.0	%

⁽¹⁾  In the fourth quarter of 2014, we recorded tax benefits of $188 related to the reinstatement of the research tax credit for 2014. Research tax credits for the 2013 and 2012 tax years were both recorded in 2013.

⁽²⁾  In 2013, we recorded $212 for the issuance of favorable regulations related to research and experimental (R&E) expenditures.

⁽³⁾  In the second quarter of 2014 we recorded an incremental tax benefit of $265 related to the application of a 2012 Federal Court of Claims decision which held that the tax basis in certain assets could be increased and realized upon the assets' disposition (tax basis adjustment).

⁽⁴⁾  In the second quarter of 2014, tax benefits of $116 and $143 were recorded as a result of the 2007-2008 and 2009-2010 federal tax audit settlements.

The research tax credit expired on December 31, 2014. If the research tax credit is not extended there would be an unfavorable impact to our 2015 effective income tax rate.

Federal income tax audits have been settled for all years prior to 2011. The years 2011-2012 are currently being examined by the IRS. We are also subject to examination in major state and international jurisdictions for the 2001-2014 tax years. We believe appropriate provisions for all outstanding tax issues have been made for all jurisdictions and all open years.

Significant components of our deferred tax (liabilities)/assets at December 31 were as follows:

	2014			2013
Inventory and long-term contract methods of income recognition, fixed assets and other (net of valuation allowance of $18 and $20)		($11,589	)		($9,948	)
Pension benefits	6,145			3,099
Retiree health care benefits	2,572			2,458
Other employee benefits	1,477			1,773
Customer and commercial financing	(853		)	(990		)
Net operating loss, credit and capital loss carryovers (net of valuation allowance of $63 and $105)(1)	266			362
Other net unrealized losses	110			26
Unremitted earnings of non-U.S. subsidiaries	(37		)	(44		)
In-process research and development related to acquisitions	10			23
Partnerships and joint ventures	9			(62		)
Net deferred tax (liabilities)/assets(2)		($1,890	)		($3,303	)

⁽¹⁾   Of the deferred tax asset for net operating loss and credit carryovers, $252 expires in years ending from December 31, 2015 through December 31, 2034 and $14 may be carried over indefinitely.

⁽²⁾   Included in the net deferred tax (liabilities)/assets as of December 31, 2014 and 2013 are deferred tax assets in the amounts of $8,007 and $5,818 related to Accumulated other comprehensive loss.

Net deferred tax (liabilities)/assets at December 31 were as follows:

	2014			2013
Deferred tax assets		$14,219			$12,486
Deferred tax liabilities	(16,028		)	(15,664		)
Valuation allowance	(81		)	(125		)
Net deferred tax (liabilities)/assets		($1,890	)		($3,303	)

The measurement of deferred tax assets is reduced by a valuation allowance if, based upon available evidence, it is more likely than not that some or all of the deferred tax assets will not be realized.

We have provided for U.S. deferred income taxes and foreign withholding tax in the amount of $37 on undistributed earnings not considered indefinitely reinvested in our non-U.S. subsidiaries. We have not provided for U.S. deferred income taxes or foreign withholding tax on the remainder of undistributed earnings from our non-U.S. subsidiaries of approximately $800 because such earnings are considered to be indefinitely reinvested and it is not practicable to estimate the amount of tax that may be payable upon distribution.

As of December 31, 2014 and 2013, the amounts accrued for the payment of income tax-related interest and penalties included in the Consolidated Statements of Financial Position were as follows: interest of $17 and $12 and penalties of $5 and $8. The amounts of interest benefit included in the Consolidated Statements of Operations were $17, $4, and $43 for the years ended December 31, 2014, 2013 and 2012, respectively. The interest benefit recorded during 2012 was primarily related to the settlement of non-US audits.

A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows:

	2014			2013			2012
Unrecognized tax benefits – January 1		$1,141			$1,055			$939
Gross increases – tax positions in prior periods	403			10			55
Gross decreases – tax positions in prior periods	(251		)	(125		)	(20		)
Gross increases – current-period tax positions	217			202			83
Gross decreases – current-period tax positions				(1		)	(1		)
Settlements	(197		)				(1		)
Lapse of statute of limitations	(1		)
Unrecognized tax benefits – December 31		$1,312			$1,141			$1,055

As of December 31, 2014, 2013 and 2012, the total amount of unrecognized tax benefits was $1,312, $1,141 and $1,055, respectively, of which $1,180, $1,018 and $945 would affect the effective tax rate, if recognized. As of December 31, 2014, these amounts are primarily associated with U.S. federal tax issues such as the amount of research tax credits claimed, the domestic production activities deductions claimed, tax basis adjustments and U.S. taxation of foreign earnings. Also included in these amounts are accruals for domestic state tax issues such as the allocation of income among various state tax jurisdictions and the amount of state tax credits claimed.

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Goodwill And Acquired Intangibles (Schedule Of Finite-Lived Intangible Assets) (Details) (USD $) In Millions, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 4,060	$ 4,483
Accumulated Amortization	1,681	1,928
Distribution Rights [Member]
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	2,245	2,275
Accumulated Amortization	550	483
Product Know-How [Member]
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	494	507
Accumulated Amortization	216	199
Customer Base [Member]
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	619	615
Accumulated Amortization	381	347
Developed Technology [Member]
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	500	853
Accumulated Amortization	386	742
Other [Member]
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	202	233
Accumulated Amortization	$ 148	$ 157

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Postretirement Plans (Schedule Of Assumed Health Care Cost Trend Rates) (Details)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
General Discussion of Pension and Other Postretirement Benefits [Abstract]
Health care cost trend rate assumed next year	7.00%	7.00%	7.50%
Ultimate trend rate	5.00%	5.00%	5.00%
Year that trend reached ultimate rate	2018	2018	2018

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Goodwill And Acquired Intangibles

12 Months Ended

Dec. 31, 2014

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Acquired Intangibles

Goodwill and Acquired Intangibles

Changes in the carrying amount of goodwill by reportable segment for the years ended December 31, 2014 and 2013 were as follows:

	Commercial Airplanes			Boeing Military Aircraft		Network & Space Systems			Global Services & Support		Total
Balance at January 1, 2013		$2,125			$946		$1,513			$451		$5,035
Acquisitions				18					7		25
Goodwill adjustments	(17		)								(17		)
Balance at December 31, 2013		$2,108			$964		$1,513			$458		$5,043
Acquisitions	45					57					102
Goodwill adjustments	(22		)			(4		)			(26		)
Balance at December 31, 2014		$2,131			$964		$1,566			$458		$5,119

As of December 31, 2014 and 2013, we had indefinite-lived intangible assets with carrying amounts of $490 and $497 relating to trade names.

The gross carrying amounts and accumulated amortization of our acquired finite-lived intangible assets were as follows at December 31:

	2014				2013
	Gross Carrying Amount		Accumulated Amortization		Gross Carrying Amount		Accumulated Amortization
Distribution rights		$2,245		$550		$2,275		$483
Product know-how	494		216		507		199
Customer base	619		381		615		347
Developed technology	500		386		853		742
Other	202		148		233		157
Total		$4,060		$1,681		$4,483		$1,928

Amortization expense for acquired finite-lived intangible assets for the years ended December 31, 2014 and 2013 was $227 and $205. Estimated amortization expense for the five succeeding years is as follows:

	2015		2016		2017		2018		2019
Estimated amortization expense		$215		$210		$201		$190		$182

During 2014 and 2013 we acquired $87 and $144 of finite-lived intangible assets, of which $24 and $0 related to non-cash investing and financing transactions. Total acquired finite-lived intangibles of $24 and $182 remain unpaid as of December 31, 2014 and 2013.

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Earnings Per Share

12 Months Ended

Dec. 31, 2014

Earnings Per Share [Abstract]

Earnings Per Share

Earnings Per Share

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, less earnings available to participating securities, divided by the basic weighted average common shares outstanding.

Diluted earnings per share is calculated by taking net earnings, less earnings available to participating securities, divided by the diluted weighted average common shares outstanding.

The elements used in the computation of basic and diluted earnings per share were as follows:

(In millions - except per share amounts)
Years ended December 31,	2014		2013		2012
Net earnings		$5,446		$4,585		$3,900
Less: earnings available to participating securities	6		7		8
Net earnings available to common shareholders		$5,440		$4,578		$3,892
Basic
Basic weighted average shares outstanding	728.9		760.8		758.0
Less: participating securities	1.3		1.9		2.3
Basic weighted average common shares outstanding	727.6		758.9		755.7
Diluted
Basic weighted average shares outstanding	728.9		760.8		758.0
Dilutive potential common shares(1)	9.1		8.7		5.8
Diluted weighted average shares outstanding	738.0		769.5		763.8
Less: participating securities	1.3		1.9		2.3
Diluted weighted average common shares outstanding	736.7		767.6		761.5
Net earnings per share:
Basic		$7.47		$6.03		$5.15
Diluted	7.38		5.96		5.11

⁽¹⁾  Diluted earnings per share includes any dilutive impact of stock options, restricted stock units, performance-based restricted stock units and performance awards.

The following table includes the number of shares that may be dilutive potential common shares in the future. These shares were not included in the computation of diluted earnings per share because the effect was either antidilutive or the performance condition was not met.

(Shares in millions)
Years ended December 31,	2014	2013	2012
Stock options		4.8	23.6
Performance awards	5.1	4.2	4.9
Performance-based restricted stock units	1.3

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Segment Information (Schedule Of Unallocated Items and Eliminations) (Details) (USD $) In Millions, unless otherwise specified	3 Months Ended								12 Months Ended
	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2013	Sep. 30, 2013	Jun. 30, 2013	Mar. 31, 2013	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Segment Reporting Information [Line Items]
Share-based plans									$ (195)	$ (206)	$ (193)
Deferred compensation									(44)	(238)	(75)
Amortization of previously capitalized interest									(102)	(87)	(74)
Total	2,025	2,119	1,787	1,542	1,515	1,803	1,716	1,528	7,473	6,562	6,290
Pension [Member]
Segment Reporting Information [Line Items]
Pension and Postretirement									(3,215)	(3,036)	(2,407)
Postretirement [Member]
Segment Reporting Information [Line Items]
Pension and Postretirement									(287)	(353)	(543)
Unallocated Items And Eliminations [Member]
Segment Reporting Information [Line Items]
Share-based plans									(67)	(95)	(81)
Deferred compensation									(44)	(238)	(75)
Amortization of previously capitalized interest									(72)	(69)	(70)
Eliminations and other unallocated items									(593)	(859)	(452)
Operating Income (Loss) Excluding Unallocated Pension and Postretirement Adjustments									(776)	(1,261)	(678)
Pension and Postretirement									(1,387)	(1,314)	(899)
Total									(2,163)	(2,575)	(1,577)
Unallocated Items And Eliminations [Member] | Pension [Member]
Segment Reporting Information [Line Items]
Pension and Postretirement									(1,469)	(1,374)	(787)
Unallocated Items And Eliminations [Member] | Postretirement [Member]
Segment Reporting Information [Line Items]
Pension and Postretirement									$ 82	$ 60	$ (112)

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Accounts Receivable

12 Months Ended

Dec. 31, 2014

Accounts Receivable, Net [Abstract]

Accounts Receivable

Accounts Receivable, net

Accounts receivable at December 31 consisted of the following:

	2014			2013
U.S. government contracts		$4,281			$3,604
Defense, Space & Security customers (1)	1,018			1,073
Commercial Airplanes customers	1,749			1,072
Reinsurance receivables	512			525
Other	296			376
Less valuation allowance	(127		)	(104		)
Total		$7,729			$6,546

⁽¹⁾  Excludes U.S. government contracts

The following table summarizes our accounts receivable under long-term contracts that were unbillable or related to outstanding claims as of December 31:

	Unbillable				Claims
	2014		2013		2014		2013
Current		$2,306		$1,550		$29		$3
Expected to be collected after one year	1,408		1,020		73		61
Total		$3,714		$2,570		$102		$64

Under contract accounting unbillable receivables on long-term contracts arise when the sales or revenues based on performance attainment, though appropriately recognized, cannot be billed yet under terms of the contract as of the balance sheet date. Any adjustment for the credit quality of unbillable receivables, if required, would be recorded as a direct reduction of revenue. Factors considered in assessing the collectability of unbillable receivables include, but are not limited to, a customer’s extended delinquency, requests for restructuring and filings for bankruptcy. Unbillable receivables related to commercial customers expected to be collected after one year were$172 and $179 at December 31, 2014 and 2013. Accounts receivable related to claims are items that we believe are earned, but are subject to uncertainty concerning their determination or ultimate realization.

Accounts receivable as of December 31, 2014, includes $112 of unbillable receivables on a long-term contract with LightSquared, LP (LightSquared) related to the construction of two commercial satellites. One of the satellites has been delivered, and the other is substantially complete but remains in Boeing’s possession. On May 14, 2012, LightSquared filed for Chapter 11 bankruptcy protection. We believe that our rights in the second satellite and related ground-segment assets are sufficient to protect the value of our receivables in the event LightSquared fails to make payments as contractually required or rejects its contract with us. Given the uncertainties inherent in bankruptcy proceedings, it is reasonably possible that we could incur losses related to these receivables in connection with the LightSquared bankruptcy.

Accounts receivable, other than those described above, expected to be collected after one year are not material.

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Income Taxes (Narrative) (Details) (USD $) In Millions, unless otherwise specified	3 Months Ended			12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Mar. 31, 2013	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
Income Tax Disclosure [Abstract]
Net income tax payments/(refunds)				$ 355	$ 209	$ 410
Effective income tax rate				23.70%	26.40%	34.00%
Tax Adjustments, Settlements, and Unusual Provisions	188	212	145
U.S. deferred income taxes and foreign withholding tax	37			37
Undistributed Earnings of Foreign Subsidiaries	800			800
Accrued income tax-related interest	17	12		17	12
Accrued income tax-related penalties	5	8		5	8
Amounts of interest (benefit)/expense				(17)	(4)	(43)
Unrecognized tax benefits	1,312	1,141		1,312	1,141	1,055	939
Unrecognized tax benefits that would affect the effective tax rate, if recognized	$ 1,180	$ 1,018		$ 1,180	$ 1,018	$ 945

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Share-Based Compensation And Other Compensation Arrangements (Schedule Of Stock Unit Activity) (Details) (USD $) In Millions, except Share data, unless otherwise specified	12 Months Ended
	Dec. 31, 2014
Share-based Compensation Arrangement by Share-based Payment Award, Additional General Disclosures [Abstract]
Weighted average remaining contractual life (in years)	5 years 11 months 4 days
Incentive Program Restricted Stock Units [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Number of units, Outstanding at beginning of year	3,722,317
Number of units, Granted	729,603
Number of units, Dividends	72,387
Number of units, Forfeited	(177,986)
Number of units, Distributed	(1,313,782)
Number of units, Outstanding at end of year	3,032,539
Share-based Compensation Arrangement by Share-based Payment Award, Additional General Disclosures [Abstract]
Unrecognized compensation cost	94
Weighted average remaining contractual life (in years)	1 year 8 months
Other Restricted Stock Units [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Number of units, Outstanding at beginning of year	1,132,930
Number of units, Granted	288,600
Number of units, Dividends	25,833
Number of units, Forfeited	(13,962)
Number of units, Distributed	(286,303)
Number of units, Outstanding at end of year	1,147,098
Share-based Compensation Arrangement by Share-based Payment Award, Additional General Disclosures [Abstract]
Unrecognized compensation cost	41
Weighted average remaining contractual life (in years)	2 years 3 months 15 days
Incentive Program Performance Based Restricted Stock Units [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Number of units, Outstanding at beginning of year
Number of units, Granted	662,215
Number of units, Dividends	10,497
Number of units, Forfeited	(49,610)
Number of units, Distributed	0
Number of units, Outstanding at end of year	623,102
Share-based Compensation Arrangement by Share-based Payment Award, Additional General Disclosures [Abstract]
Unrecognized compensation cost	53
Weighted average remaining contractual life (in years)	2 years 1 month 15 days

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Property, Plant And Equipment (Narrative) (Details) (USD $) In Millions, unless otherwise specified	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Property, Plant and Equipment [Line Items]
Depreciation expense	$ 1,906	$ 1,844	$ 1,811
Interest capitalized	102	87	74
Rental expense for leased properties	277	287	276
Minimum rental payments under capital leases, total	158
Minimum rental payments under operating leases with initial or remaining terms of one year or more, total	1,486
Sublease payments under operating lease	17
Property, plant and equipment included in accounts payable	299	213
Property, Plant and Equipment [Member]
Property, Plant and Equipment [Line Items]
Depreciation expense	$ 1,414	$ 1,338	$ 1,248

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Income Taxes (Schedule Of Income Tax Expense/(Benefit)) (Details) (USD $) In Millions, unless otherwise specified	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Current Income Tax Expense (Benefit), Continuing Operations [Abstract]
U.S. federal	$ 676	$ (82)	$ 657
Non-U.S.	91	76	52
U.S. state	69	11	19
Total Current Income Tax Expense (Benefit)	836	5	728
Deferred Income Tax Expense (Benefit), Continuing Operations [Abstract]
U.S. federal	828	1,531	1,209
Non-U.S.	34	41	(13)
U.S. state	(7)	69	83
Total deferred	855	1,641	1,279
Income Tax Expense (Benefit), Continuing Operations [Abstract]
Total income tax expense	$ 1,691	$ 1,646	$ 2,007

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Debt Debt (Schedule of Long-term debt instruments) (Details) (USD $) In Millions, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013
Debt Instrument [Line Items]
Total debt	$ 9,070	$ 9,635
Boeing Capital Corporation [Member]
Debt Instrument [Line Items]
Total debt	2,412	2,577
Other Boeing Debt [Member]
Debt Instrument [Line Items]
Total debt	$ 6,658	$ 7,058

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Earnings Per Share (Schedule Of Weighted Average Number Of Shares Outstanding Excluded From The Computation Of Diluted Earnings Per Share) (Details) In Millions, unless otherwise specified	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Stock Options [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Shares excluded from the computation of diluted earnings		4.8	23.6
Performance Awards [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Shares excluded from the computation of diluted earnings	5.1	4.2	4.9
Performance Shares [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Shares excluded from the computation of diluted earnings	1.3

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Liabilities, Commitments And Contingencies (Schedule Of Accrued Liabilities) (Details) (USD $) In Millions, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Commitments and Contingencies Disclosure [Abstract]
Accrued compensation and employee benefit costs	$ 5,868	$ 6,158
Environmental	601	649	710
Product warranties	1,504	1,570	1,572
Forward loss recognition	414	360
Dividends payable	637	542
Other	4,319	4,852
Total	$ 13,343	$ 14,131

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Fair Value Measurements Fair Value, Assets Measured on Nonrecurring Basis Using Unobservable Inputs (Details) (USD $) In Millions, unless otherwise specified	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Fair Value, Assets and Liabilities Measured on Nonrecurring Basis [Line Items]
Nonrecurring fair value losses	$ (229)	$ (96)	$ (84)
Fair Value Measurements Nonrecurring [Member] | Operating Lease Equipment [Member]
Fair Value, Assets and Liabilities Measured on Nonrecurring Basis [Line Items]
Nonrecurring fair value losses	(170)	(81)
Fair Value Measurements Nonrecurring [Member] | Property, Plant and Equipment [Member]
Fair Value, Assets and Liabilities Measured on Nonrecurring Basis [Line Items]
Nonrecurring fair value losses	(15)	(15)
Fair Value Measurements Nonrecurring [Member] | Other assets and Acquired intangible assets [Member]
Fair Value, Assets and Liabilities Measured on Nonrecurring Basis [Line Items]
Nonrecurring fair value losses	(17)
Fair Value Measurements Nonrecurring [Member] | Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Nonrecurring Basis [Line Items]
Total Fair Value	206	256
Nonrecurring fair value losses	(202)	(96)
Fair Value Measurements Nonrecurring [Member] | Level 3 [Member] | Market Approach Valuation Technique [Member]
Fair Value, Assets and Liabilities Measured on Nonrecurring Basis [Line Items]
Operating Lease Equipment, Fair Value	187	216
Fair Value Measurements Nonrecurring [Member] | Level 3 [Member] | Income Approach Valuation Technique [Member]
Fair Value, Assets and Liabilities Measured on Nonrecurring Basis [Line Items]
Property, Plant, and Equipment, Fair Value	19	40
Other assets and Acquired intangible assets, Fair Value

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Summary Of Significant Accounting Policies (Policy)

12 Months Ended

Dec. 31, 2014

Accounting Policies [Abstract]

Description of New Accounting Pronouncements Not yet Adopted

Standards Issued and Not Yet Implemented

In May 2014, the Financial Accounting Standards Board issued Accounting Standards Update No. 2014-09, Revenue from Contracts with Customers. The new standard is effective for reporting periods beginning after December 15, 2016 and early adoption is not permitted. The comprehensive new standard will supersede existing revenue recognition guidance and require revenue to be recognized when promised goods or services are transferred to customers in amounts that reflect the consideration to which the company expects to be entitled in exchange for those goods or services. Adoption of the new rules could affect the timing of revenue recognition for certain transactions. The guidance permits two implementation approaches, one requiring retrospective application of the new standard with restatement of prior years and one requiring prospective application of the new standard with disclosure of results under old standards. For Boeing the new standard will be effective January 1, 2017 and the Company is currently evaluating the impacts of adoption and the implementation approach to be used.

Principles Of Consolidation And Basis Of Presentation

Principles of Consolidation and Basis of Presentation

The Consolidated Financial Statements included in this report have been prepared by management of The Boeing Company (herein referred to as “Boeing,” the “Company,” “we,” “us,” or “our”). These statements include the accounts of all majority-owned subsidiaries and variable interest entities that are required to be consolidated. All significant intercompany accounts and transactions have been eliminated. Segment data for all years have been adjusted to reflect a realignment of certain programs from the Boeing Military Aircraft (BMA) segment to the Global Services & Support (GS&S) segment and the combination of Other segment with Unallocated items and eliminations. See Note 21.

Use Of Estimates

Use of Estimates

Management makes assumptions and estimates to prepare financial statements in conformity with accounting principles generally accepted in the United States of America. Those assumptions and estimates directly affect the amounts reported in the Consolidated Financial Statements. Significant estimates for which changes in the near term are considered reasonably possible and that may have a material impact on the financial statements are disclosed in these Notes to the Consolidated Financial Statements.

Operating Cycle

Operating Cycle

For classification of certain current assets and liabilities, we use the duration of the related contract or program as our operating cycle, which is generally longer than one year.

Revenue And Related Cost Recognition

Revenue and Related Cost Recognition

Contract Accounting Contract accounting is used for development and production activities predominantly by Defense, Space & Security (BDS). The majority of business conducted by BDS is performed under contracts with the U.S. government and other customers that extend over several years. Contract accounting involves a judgmental process of estimating total sales and costs for each contract resulting in the development of estimated cost of sales percentages. For each contract, the amount reported as cost of sales is determined by applying the estimated cost of sales percentage to the amount of revenue recognized. When the current estimates of total sales and costs for a contract indicate a loss, a provision for the entire loss on the contract is recognized.

Changes in estimated revenues, cost of sales and the related effect on operating income are recognized using a cumulative catch-up adjustment which recognizes in the current period the cumulative effect of the changes on current and prior periods based on a contract’s percent complete. In 2014, 2013 and 2012 net favorable cumulative catch-up adjustments, including reach-forward losses, across all contracts increased Earnings from operations by $100, $242 and $379, respectively and diluted EPS by $0.10, $0.23 and $0.33, respectively. Significant adjustments during the three years ended December 31, 2014 included a reach-forward loss of $425 on the USAF KC-46A Tanker contract recorded during 2014.

We combine contracts for accounting purposes when they are negotiated as a package with an overall profit margin objective. These essentially represent an agreement to do a single project for a single customer, involve interrelated construction activities with substantial common costs, and are performed concurrently or sequentially. When a group of contracts is combined, revenue and profit are earned uniformly over the performance of the combined contracts. Similarly, we may segment a single contract or group of contracts when a clear economic decision has been made during contract negotiations that would produce different rates of profitability for each element or phase of the contract.

Sales related to fixed-price contracts are recognized as deliveries are made, except for certain fixed-price contracts that require substantial performance over an extended period before deliveries begin, for which sales are recorded based on the attainment of performance milestones. Sales related to contracts in which we are reimbursed for costs incurred plus an agreed upon profit are recorded as costs are incurred. The Federal Acquisition Regulations provide guidance on the types of cost that will be reimbursed in establishing contract price. Contracts may contain provisions to earn incentive and award fees if specified targets are achieved. Incentive and award fees that can be reasonably estimated and are probable are recorded over the performance period of the contract. Incentive and award fees that cannot be reasonably estimated are recorded when awarded.

Program Accounting Our Commercial Airplanes segment predominantly uses program accounting to account for cost of sales related to its programs. Program accounting is applicable to products manufactured for delivery under production-type contracts where profitability is realized over multiple contracts and years. Under program accounting, inventoriable production costs, program tooling and other non-recurring costs, and warranty costs are accumulated and charged to cost of sales by program instead of by individual units or contracts. A program consists of the estimated number of units (accounting quantity) of a product to be produced in a continuing, long-term production effort for delivery under existing and anticipated contracts. The determination of the accounting quantity is limited by the ability to make reasonably dependable estimates of the revenue and cost of existing and anticipated contracts. To establish the relationship of sales to cost of sales, program accounting requires estimates of (a) the number of units to be produced and sold in a program, (b) the period over which the units can reasonably be expected to be produced, and (c) the units’ expected sales prices, production costs, program tooling and other non-recurring costs, and routine warranty costs for the total program.

We recognize sales for commercial airplane deliveries as each unit is completed and accepted by the customer. Sales recognized represent the price negotiated with the customer, adjusted by an escalation formula as specified in the customer agreement. The amount reported as cost of sales is determined by applying the estimated cost of sales percentage for the total remaining program to the amount of sales recognized for airplanes delivered and accepted by the customer. Changes in estimated revenues, cost of sales and the related effects on program margins are recognized prospectively except in cases where the program is determined to have a reach-forward loss in which case the loss is recognized in the current period. See Note 11.

Concession Sharing Arrangements We account for sales concessions to our customers in consideration of their purchase of products and services as a reduction to revenue when the related products and services are delivered. The sales concessions incurred may be partially reimbursed by certain suppliers in accordance with concession sharing arrangements. We record these reimbursements, which are presumed to represent reductions in the price of the vendor’s products or services, as a reduction in Cost of products.

Spare Parts Revenue We recognize sales of spare parts upon delivery and the amount reported as cost of sales is recorded at average cost.

Service Revenue Service revenue is recognized when the service is performed with the exception of U.S. government service agreements, which are accounted for using contract accounting. Service activities primarily include: support agreements associated with military aircraft and helicopter contracts, ongoing maintenance of International Space Station, and technical and flight operation services for commercial aircraft. Service revenue and associated cost of sales from pay-in-advance subscription fees are deferred and recognized as services are rendered.

Financial Services Revenue We record financial services revenue associated with sales-type/finance leases, operating leases, and notes receivable.

Lease and financing revenue arrangements are included in Sales of services on the Consolidated Statements of Operations. For sales-type/finance leases, we record an asset at lease inception. This asset is recorded at the aggregate future minimum lease payments, estimated residual value of the leased equipment, and deferred incremental direct costs less unearned income. Income is recognized over the life of the lease to approximate a level rate of return on the net investment. Residual values, which are reviewed periodically, represent the estimated amount we expect to receive at lease termination from the disposition of the leased equipment. Actual residual values realized could differ from these estimates. Declines in estimated residual value that are deemed other-than-temporary are recognized in the period in which the declines occur.

For operating leases, revenue on leased aircraft and equipment is recorded on a straight-line basis over the term of the lease. Operating lease assets, included in Customer financing, are recorded at cost and depreciated over the period that we project we will hold the asset to an estimated residual value, using the straight-line method. We periodically review our estimates of residual value and recognize forecasted changes by prospectively adjusting depreciation expense.

For notes receivable, notes are recorded net of any unamortized discounts and deferred incremental direct costs. Interest income and amortization of any discounts are recorded ratably over the related term of the note.

Reinsurance Revenue Our wholly-owned insurance subsidiary, Astro Ltd., participates in a reinsurance pool for workers’ compensation. The member agreements and practices of the reinsurance pool minimize any participating members’ individual risk. Reinsurance revenues were $135, $160 and $129 during 2014, 2013 and 2012, respectively. Reinsurance costs related to premiums and claims paid to the reinsurance pool were $144, $147 and $128 during 2014, 2013 and 2012, respectively. Revenues and costs are presented net in Cost of sales in the Consolidated Statements of Operations.

Fleet Support

Fleet Support

We provide assistance and services to facilitate efficient and safe aircraft operation to the operators of all our commercial airplane models. Collectively known as fleet support services, these activities and services include flight and maintenance training, field service support, engineering services, and technical data and documents. Fleet support activity begins prior to aircraft delivery as the customer receives training, manuals, and technical consulting support. This activity continues throughout the aircraft’s operational life. Services provided after delivery include field service support, consulting on maintenance, repair, and operational issues brought forth by the customer or regulators, updating manuals and engineering data, and the issuance of service bulletins that impact the entire model’s fleet. Field service support involves our personnel located at customer facilities providing and coordinating fleet support activities and requests. The costs for fleet support are expensed as incurred as Cost of services.

Research And Development

Research and Development

Research and development includes costs incurred for experimentation, design, and testing, as well as bid and proposal efforts related to government products and services which are expensed as incurred unless the costs are related to certain contractual arrangements with customers. Costs that are incurred pursuant to such contractual arrangements are recorded over the period that revenue is recognized, consistent with our contract accounting policy. We have certain research and development arrangements that meet the requirement for best efforts research and development accounting. Accordingly, the amounts funded by the customer are recognized as an offset to our research and development expense rather than as contract revenues. Research and development expense included bid and proposal costs of $289, $285 and $326 in 2014, 2013 and 2012, respectively.

Share-Based Compensation

Share-Based Compensation

We provide various forms of share-based compensation to our employees. For awards settled in shares, we measure compensation expense based on the grant-date fair value net of estimated forfeitures. For awards settled in cash, or that may be settled in cash, we measure compensation expense based on the fair value at each reporting date net of estimated forfeitures. The expense is recognized over the requisite service period, which is generally the vesting period of the award.

Income Taxes

Income Taxes

Provisions for federal, state, and non-U.S. income taxes are calculated on reported Earnings before income taxes based on current tax law and also include, in the current period, the cumulative effect of any changes in tax rates from those used previously in determining deferred tax assets and liabilities. Such provisions differ from the amounts currently receivable or payable because certain items of income and expense are recognized in different time periods for financial reporting purposes than for income tax purposes. Significant judgment is required in determining income tax provisions and evaluating tax positions.

The accounting for uncertainty in income taxes requires a more-likely-than-not threshold for financial statement recognition and measurement of tax positions taken or expected to be taken in a tax return. We record a liability for the difference between the benefit recognized and measured for financial statement purposes and the tax position taken or expected to be taken on our tax return. To the extent that our assessment of such tax positions changes, the change in estimate is recorded in the period in which the determination is made. Tax-related interest and penalties are classified as a component of Income tax expense.

Postretirement Plans

Postretirement Plans

The majority of our employees are earning benefits under defined benefit pension plans. In 2014, we announced changes to our retirement plans whereby nonunion and the majority of union employees currently participating in defined benefit pension plans will transition in 2016 to a company-funded defined contribution retirement savings plan. We also provide postretirement benefit plans other than pensions, consisting principally of health care coverage to eligible retirees and qualifying dependents. Benefits under the pension and other postretirement benefit plans are generally based on age at retirement and years of service and, for some pension plans, benefits are also based on the employee’s annual earnings. The net periodic cost of our pension and other postretirement plans is determined using the projected unit credit method and several actuarial assumptions, the most significant of which are the discount rate, the long-term rate of asset return, and medical trend (rate of growth for medical costs). A portion of net periodic pension and other postretirement income or expense is not recognized in net earnings in the year incurred because it is allocated to production as product costs, and reflected in inventory at the end of a reporting period. Actuarial gains and losses, which occur when actual experience differs from actuarial assumptions, are reflected in Shareholders’ equity (net of taxes). If actuarial gains and losses exceed ten percent of the greater of plan assets or plan liabilities we amortize them over the average future service period of employees. The funded status of our pension and postretirement plans is reflected on the Consolidated Statements of Financial Position.

Postemployment Plans

Postemployment Plans

We record a liability for postemployment benefits, such as severance or job training, when payment is probable, the amount is reasonably estimable, and the obligation relates to rights that have vested or accumulated.

Environmental Remediation

Environmental Remediation

We are subject to federal and state requirements for protection of the environment, including those for discharge of hazardous materials and remediation of contaminated sites. We routinely assess, based on in-depth studies, expert analyses and legal reviews, our contingencies, obligations, and commitments for remediation of contaminated sites, including assessments of ranges and probabilities of recoveries from other responsible parties and/or insurance carriers. Our policy is to accrue and charge to current expense identified exposures related to environmental remediation sites when it is probable that a liability has been incurred and the amount can be reasonably estimated. The amount of the liability is based on our best estimate or the low end of a range of reasonably possible exposure for investigation, cleanup, and monitoring costs to be incurred. Estimated remediation costs are not discounted to present value as the timing of payments cannot be reasonably estimated. We may be able to recover a portion of the remediation costs from insurers or other third parties. Such recoveries are recorded when realization of the claim for recovery is deemed probable.

The liabilities recorded represent our best estimate or the low end of a range of reasonably possible costs expected to be incurred to remediate sites, including operation and maintenance over periods of up to 30 years. It is reasonably possible that we may incur charges that exceed these recorded amounts because of regulatory agency orders and directives, changes in laws and/or regulations, higher than expected costs and/or the discovery of new or additional contamination. As part of our estimating process, we develop a range of reasonably possible alternate scenarios that includes the high end of a range of reasonably possible cost estimates for all remediation sites for which we have sufficient information based on our experience and existing laws and regulations. There are some potential remediation obligations where the costs of remediation cannot be reasonably estimated.

Cash And Cash Equivalents

Cash and Cash Equivalents

Cash and cash equivalents consist of highly liquid instruments, such as commercial paper, time deposits, and other money market instruments, which have original maturities of three months or less. We aggregate our cash balances by bank where conditions for right of set-off are met, and reclassify any negative balances, consisting mainly of uncleared checks, to Accounts payable. Negative balances reclassified to Accounts payable were $241 and $108 at December 31, 2014 and 2013.

Inventories

Inventories

Inventoried costs on commercial aircraft programs and long-term contracts include direct engineering, production and tooling and other non-recurring costs, and applicable overhead, which includes fringe benefits, production related indirect and plant management salaries and plant services, not in excess of estimated net realizable value. To the extent a material amount of such costs are related to an abnormal event or are fixed costs not appropriately attributable to our programs or contracts, they are expensed in the current period rather than inventoried. Inventoried costs include amounts relating to programs and contracts with long-term production cycles, a portion of which is not expected to be realized within one year. Included in inventory for federal government contracts is an allocation of allowable costs related to manufacturing process reengineering.

Commercial aircraft programs inventory includes deferred production costs and supplier advances. Deferred production costs represent actual costs incurred for production of early units that exceed the estimated average cost of all units in the program accounting quantity. Higher production costs are experienced at the beginning of a new or derivative airplane program. Units produced early in a program require substantially more effort (labor and other resources) than units produced later in a program because of volume efficiencies and the effects of learning. We expect that these deferred costs will be fully recovered when all units included in the accounting quantity are delivered as the expected unit cost for later deliveries is below the estimated average cost of all units in the program. Supplier advances represent payments for parts we have contracted to receive from suppliers in the future. As parts are received, supplier advances are amortized to work in process.

The determination of net realizable value of long-term contract costs is based upon quarterly reviews that estimate costs to be incurred to complete all contract requirements. When actual contract costs and the estimate to complete exceed total estimated contract revenues, a loss provision is recorded. The determination of net realizable value of commercial aircraft program costs is based upon quarterly program reviews that estimate revenue and cost to be incurred to complete the program accounting quantity. When estimated costs to complete exceed estimated program revenues to go, a program loss provision is recorded in the current period for the estimated loss on all undelivered units in the accounting quantity.

Used aircraft purchased by the Commercial Airplanes segment and general stock materials are stated at cost not in excess of net realizable value. See ‘Aircraft Valuation’ within this Note for a discussion of our valuation of used aircraft. Spare parts inventory is stated at lower of average unit cost or market. We review our commercial spare parts and general stock materials quarterly to identify impaired inventory, including excess or obsolete inventory, based on historical sales trends, expected production usage, and the size and age of the aircraft fleet using the part. Impaired inventories are charged to Cost of products in the period the impairment occurs.

Included in inventory for commercial aircraft programs are amounts paid or credited in cash, or other consideration to certain airline customers, that are referred to as early issue sales consideration. Early issue sales consideration is recognized as a reduction to revenue when the delivery of the aircraft under contract occurs. If an airline customer does not perform and take delivery of the contracted aircraft, we believe that we would have the ability to recover amounts paid. However, to the extent early issue sales consideration exceeds advances and is not considered to be otherwise recoverable, it would be written off in the current period.

We net advances and progress billings on long-term contracts against inventory in the Consolidated Statements of Financial Position. Advances and progress billings in excess of related inventory are reported in Advances and billings in excess of related costs.

Precontract Costs

Precontract Costs

We may, from time to time, incur costs in excess of the amounts required for existing contracts. If we determine the costs are probable of recovery from future orders, then we capitalize the precontract costs we incur, excluding start-up costs which are expensed as incurred. Capitalized precontract costs are included in Inventories, net of advances and progress billings, in the accompanying Consolidated Statements of Financial Position. Should future orders not materialize or we determine the costs are no longer probable of recovery, the capitalized costs would be written off.

Property, Plant And Equipment

Property, Plant and Equipment

Property, plant and equipment are recorded at cost, including applicable construction-period interest, less accumulated depreciation and are depreciated principally over the following estimated useful lives: new buildings and land improvements, from 10 to 40 years; and new machinery and equipment, from 3 to 20 years. The principal methods of depreciation are as follows: buildings and land improvements, 150% declining balance; and machinery and equipment, sum-of-the-years’ digits. Capitalized internal use software is included in Other assets and amortized using the straight line method over 5 years. We periodically evaluate the appropriateness of remaining depreciable lives assigned to long-lived assets, including assets that may be subject to a management plan for disposition.

Long-lived assets held for sale are stated at the lower of cost or fair value less cost to sell. Long-lived assets held for use are subject to an impairment assessment whenever events or changes in circumstances indicate that the carrying amount may not be recoverable. If the carrying value is no longer recoverable based upon the undiscounted future cash flows of the asset, the amount of the impairment is the difference between the carrying amount and the fair value of the asset.

Asset Retirement Obligations

Asset Retirement Obligations

We record all known asset retirement obligations for which the liability’s fair value can be reasonably estimated, including certain asbestos removal, asset decommissioning and contractual lease restoration obligations. Recorded amounts are not material.

We also have known conditional asset retirement obligations, such as certain asbestos remediation and asset decommissioning activities to be performed in the future, that are not reasonably estimable due to insufficient information about the timing and method of settlement of the obligation. Accordingly, these obligations have not been recorded in the Consolidated Financial Statements. A liability for these obligations will be recorded in the period when sufficient information regarding timing and method of settlement becomes available to make a reasonable estimate of the liability’s fair value. In addition, there may be conditional asset retirement obligations that we have not yet discovered (e.g. asbestos may exist in certain buildings but we have not become aware of it through the normal course of business), and therefore, these obligations also have not been included in the Consolidated Financial Statements.

Goodwill And Other Acquired Intangibles

Goodwill and Other Acquired Intangibles

Goodwill and other acquired intangible assets with indefinite lives are not amortized, but are tested for impairment annually and when an event occurs or circumstances change such that it is more likely than not that an impairment may exist. Our annual testing date is April 1.

We test goodwill for impairment by performing a qualitative assessment or using a two-step impairment process. If we choose to perform a qualitative assessment and determine it is more likely than not that the carrying value of the net assets is more than the fair value of the related operations, the two-step impairment process is then performed; otherwise, no further testing is required. For operations where the two-step impairment process is used, we first compare the carrying value of net assets to the fair value of the related operations. If the fair value is determined to be less than carrying value, a second step is performed to compute the amount of the impairment. In this process, a fair value for goodwill is estimated, based in part on the fair value of the operations, and is compared to its carrying value. The shortfall of the fair value below carrying value represents the amount of goodwill impairment.

Indefinite-lived intangibles consist of brand and trade names acquired in business combinations. We test these intangibles for impairment by comparing their carrying value to current projections of discounted cash flows attributable to the brand and trade names. Any excess carrying value over the amount of discounted cash flows represents the amount of the impairment.

Our finite-lived acquired intangible assets are amortized on a straight-line basis over their estimated useful lives as follows: developed technology, from 5 to 14 years; product know-how, from 5 to 30 years; customer base, from 3 to 19 years; distribution rights, from 5 to 27 years; and other, from 3 to 32 years. We evaluate the potential impairment of finite-lived acquired intangible assets whenever events or changes in circumstances indicate that the carrying amount may not be recoverable. If the carrying value is no longer recoverable based upon the undiscounted future cash flows of the asset, the amount of the impairment is the difference between the carrying amount and the fair value of the asset.

Investments

Investments

Time deposits are held-to-maturity investments that are carried at cost.

The equity method of accounting is used to account for investments for which we have the ability to exercise significant influence, but not control, over an investee. Significant influence is generally deemed to exist if we have an ownership interest in the voting stock of an investee of between 20% and 50%.

We classify investment income and loss on our Consolidated Statements of Operations based on whether the investment is operating or non-operating in nature. Operating investments align strategically and are integrated with our operations. Earnings from operating investments, including our share of income or loss from equity method investments, dividend income from certain cost method investments, and any impairments or gain/loss on the disposition of these investments, are recorded in Income from operating investments, net. Non-operating investments are those we hold for non-strategic purposes. Earnings from non-operating investments, including interest and dividends on marketable securities, and any impairments or gain/loss on the disposition of these investments are recorded in Other income/(expense), net.

Derivatives

Derivatives

All derivative instruments are recognized in the financial statements and measured at fair value regardless of the purpose or intent of holding them. We use derivative instruments to principally manage a variety of market risks. For derivatives designated as hedges of the exposure to changes in fair value of the recognized asset or liability or a firm commitment (referred to as fair value hedges), the gain or loss is recognized in earnings in the period of change together with the offsetting loss or gain on the hedged item attributable to the risk being hedged. The effect of that accounting is to include in earnings the extent to which the hedge is not effective in achieving offsetting changes in fair value. For our cash flow hedges, the effective portion of the derivative’s gain or loss is initially reported in comprehensive income and is subsequently reclassified into earnings in the same period or periods during which the hedged forecasted transaction affects earnings. The ineffective portion of the gain or loss of a cash flow hedge is reported in earnings immediately. We also hold certain instruments for economic purposes that are not designated for hedge accounting treatment. For these derivative instruments, the changes in their fair value are also recorded in earnings immediately.

Aircraft Valuation

Aircraft Valuation

Used aircraft under trade-in commitments and aircraft under repurchase commitments In conjunction with signing a definitive agreement for the sale of new aircraft (Sale Aircraft), we have entered into trade-in commitments with certain customers that give them the right to trade in used aircraft at a specified price upon the purchase of Sale Aircraft. Additionally, we have entered into contingent repurchase commitments with certain customers wherein we agree to repurchase the Sale Aircraft at a specified price, generally 10 to 15 years after delivery of the Sale Aircraft. Our repurchase of the Sale Aircraft is contingent upon a future, mutually acceptable agreement for the sale of additional new aircraft. If we execute an agreement for the sale of additional new aircraft, and if the customer exercises its right to sell the Sale Aircraft to us, a contingent repurchase commitment would become a trade-in commitment. Our historical experience is that contingent repurchase commitments infrequently become trade-in commitments.

Exposure related to trade-in commitments may take the form of:

(1) adjustments to revenue for the difference between the contractual trade-in price in the definitive agreement and our best estimate of the fair value of the trade-in aircraft as of the date of such agreement, which would be recognized upon delivery of the Sale Aircraft, and/or

(2) charges to cost of products for adverse changes in the fair value of trade-in aircraft that occur subsequent to signing of a definitive agreement for Sale Aircraft but prior to the purchase of the used trade-in aircraft. Estimates based on current aircraft values would be included in Accrued liabilities.

The fair value of trade-in aircraft is determined using aircraft-specific data such as model, age and condition, market conditions for specific aircraft and similar models, and multiple valuation sources. This process uses our assessment of the market for each trade-in aircraft, which in most instances begins years before the return of the aircraft. There are several possible markets in which we continually pursue opportunities to place used aircraft. These markets include, but are not limited to, the resale market, which could potentially include the cost of long-term storage; the leasing market, with the potential for refurbishment costs to meet the leasing customer’s requirements; or the scrap market. Trade-in aircraft valuation varies significantly depending on which market we determine is most likely for each aircraft. On a quarterly basis, we update our valuation analysis based on the actual activities associated with placing each aircraft into a market. This quarterly valuation process yields results that are typically lower than residual value estimates by independent sources and tends to more accurately reflect results upon the actual placement of the aircraft.

Used aircraft acquired by the Commercial Airplanes segment are included in Inventories at the lower of cost or market as it is our intent to sell these assets. To mitigate costs and enhance marketability, aircraft may be placed on operating lease. While on operating lease, the assets are included in Customer financing.

Customer financing Customer financing includes operating lease equipment, notes receivable, and sales-type/finance leases. Sales-type/finance leases are treated as receivables, and allowances for losses are established as necessary.

We assess the fair value of the assets we own, including equipment under operating leases, assets held for sale or re-lease, and collateral underlying receivables, to determine if their fair values are less than the related assets’ carrying values. Differences between carrying values and fair values of sales-type/finance leases and notes and other receivables, as determined by collateral value, are considered in determining the allowance for losses on receivables.

We use a median calculated from published collateral values from multiple third-party aircraft value publications based on the type and age of the aircraft to determine the fair value of aircraft. Under certain circumstances, we apply judgment based on the attributes of the specific aircraft or equipment, usually when the features or use of the aircraft vary significantly from the more generic aircraft attributes covered by outside publications.

Impairment review for assets under operating leases and held for sale or re-lease We evaluate for impairment assets under operating lease or assets held for sale or re-lease when events or changes in circumstances indicate that the expected undiscounted cash flow from the asset may be less than the carrying value. We use various assumptions when determining the expected undiscounted cash flow, including our intentions for how long we will hold an asset subject to operating lease before it is sold, the expected future lease rates, lease terms, residual value of the asset, periods in which the asset may be held in preparation for a follow-on lease, maintenance costs, remarketing costs and the remaining economic life of the asset. We record assets held for sale at the lower of carrying value or fair value less costs to sell.

When we determine that impairment is indicated for an asset, the amount of impairment expense recorded is the excess of the carrying value over the fair value of the asset.

Allowance for losses on customer financing receivables We record the potential impairment of customer financing receivables in a valuation account, the balance of which is an accounting estimate of probable but unconfirmed losses. The allowance for losses on receivables relates to two components of receivables: (a) receivables that are evaluated individually for impairment and (b) all other receivables.

We determine a receivable is impaired when, based on current information and events, it is probable that we will be unable to collect amounts due according to the original contractual terms of the receivable agreement, without regard to any subsequent restructurings. Factors considered in assessing collectability include, but are not limited to, a customer’s extended delinquency, requests for restructuring and filings for bankruptcy. We determine a specific impairment allowance based on the difference between the carrying value of the receivable and the estimated fair value of the related collateral we would expect to realize.

We review the adequacy of the allowance attributable to the remaining receivables (after excluding receivables subject to a specific impairment allowance) by assessing both the collateral exposure and the applicable cumulative default rate. Collateral exposure for a particular receivable is the excess of the carrying value of the receivable over the fair value of the related collateral. A receivable with an estimated fair value in excess of the carrying value is considered to have no collateral exposure. The applicable cumulative default rate is determined using two components: customer credit ratings and weighted average remaining contract term. Internally assigned credit ratings, our credit quality indicator, are determined for each customer in the portfolio. Those ratings are updated based upon public information and information obtained directly from our customers.

We have entered into agreements with certain customers that would entitle us to look beyond the specific collateral underlying the receivable for purposes of determining the collateral exposure as described above. Should the proceeds from the sale of the underlying collateral asset resulting from a default condition be insufficient to cover the carrying value of our receivable (creating a shortfall condition), these agreements would, for example, permit us to take the actions necessary to sell or retain certain other assets in which the customer has an equity interest and use the proceeds to cover the shortfall.

Each quarter we review customer credit ratings, published historical credit default rates for different rating categories, and multiple third-party aircraft value publications as a basis to validate the reasonableness of the allowance for losses on receivables. There can be no assurance that actual results will not differ from estimates or that the consideration of these factors in the future will not result in an increase or decrease to the allowance for losses on receivables.

Warranties

Warranties

In conjunction with certain product sales, we provide warranties that cover factors such as non-conformance to specifications and defects in material and design. The majority of our warranties are issued by our Commercial Airplanes segment. Generally, aircraft sales are accompanied by a three to four-year standard warranty for systems, accessories, equipment, parts, and software manufactured by us or manufactured to certain standards under our authorization. These warranties are included in the programs’ estimate at completion. On occasion we have made commitments beyond the standard warranty obligation to correct fleet-wide major issues of a particular model, resulting in additional accrued warranty expense. Warranties issued by our BDS segments principally relate to sales of military aircraft and weapons hardware and are included in the contract cost estimates. These sales are generally accompanied by a six to twelve-month warranty period and cover systems, accessories, equipment, parts, and software manufactured by us to certain contractual specifications. Estimated costs related to standard warranties are recorded in the period in which the related product sales occur. The warranty liability recorded at each balance sheet date reflects the estimated number of months of warranty coverage outstanding for products delivered times the average of historical monthly warranty payments, as well as additional amounts for certain major warranty issues that exceed a normal claims level. Estimated costs of these additional warranty issues are considered changes to the initial liability estimate.

We provide guarantees to certain commercial airplane customers which include compensation provisions for failure to meet specified aircraft performance targets. We account for these performance guarantees as warranties. The estimated liability for these warranties is based on known and anticipated operational characteristics and forecasted customer operation of the aircraft relative to contractually specified performance targets, and anticipated settlements when contractual remedies are not specified. Estimated payments are recorded as a reduction of revenue at delivery of the related aircraft. We have agreements that require certain suppliers to compensate us for amounts paid to customers for failure of supplied equipment to meet specified performance targets. Claims against suppliers under these agreements are included in Inventories and recorded as a reduction in Cost of products at delivery of the related aircraft. These performance warranties and claims against suppliers are included in the programs’ estimate at completion.

Supplier Penalties

Supplier Penalties

We record an accrual for supplier penalties when an event occurs that makes it probable that a supplier penalty will be incurred and the amount is reasonably estimable. Until an event occurs, we fully anticipate accepting all products procured under production-related contracts.

Guarantees

Guarantees

We record a liability in Accrued liabilities for the fair value of guarantees that are issued or modified after December 31, 2002. For a residual value guarantee where we received a cash premium, the liability is equal to the cash premium received at the guarantee’s inception. For credit guarantees, the liability is equal to the present value of the expected loss. We determine the expected loss by multiplying the creditor’s default rate by the guarantee amount reduced by the expected recovery, if applicable, for each future period the credit guarantee will be outstanding. If at inception of a guarantee, we determine there is a probable related contingent loss, we will recognize a liability for the greater of (a) the fair value of the guarantee as described above or (b) the probable contingent loss amount.

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Shareholders' Equity (Tables)

12 Months Ended

Dec. 31, 2014

Stockholders' Equity Note [Abstract]

Schedule Of Common Stock Outstanding Roll Forward

The following table shows changes in each class of shares:

	Common Stock	Treasury Stock
Balance at January 1, 2012	1,012,261,159	267,556,388
Issued		(11,935,423	)
Acquired		1,009,663
Balance at December 31, 2012	1,012,261,159	256,630,628
Issued		(17,903,704	)
Acquired		26,155,537
Balance at December 31, 2013	1,012,261,159	264,882,461
Issued		(6,719,270	)
Acquired		47,370,415
Balance at December 31, 2014	1,012,261,159	305,533,606

Schedule of Accumulated Other Comprehensive Income (Loss)

Changes in Accumulated other comprehensive income/(loss) (AOCI) by component for the years ended December 31, 2014, 2013 and 2012 were as follows:

	Currency Translation Adjustments			Unrealized Gains and Losses on Certain Investments			Unrealized Gains and Losses on Derivative Instruments			Defined Benefit Pension Plans & Other Postretirement Benefits				Total (1)
Balance at January 1, 2012		$197			($8	)		$66			($16,755	)			($16,500	)
Other comprehensive income/(loss) before reclassifications	17						25			(2,290		)		(2,248		)
Amounts reclassified from AOCI							(5		)	1,337			(2)	1,332
Net current period Other comprehensive loss	17						20			(953		)		(916		)
Balance at December 31, 2012		$214			($8	)		$86			($17,708	)			($17,416	)
Other comprehensive income/(loss) before reclassifications	(64		)				(75		)	6,093				5,954
Amounts reclassified from AOCI							(17		)	1,585			(2)	1,568
Net current period Other comprehensive income/(loss)	(64		)				(92		)	7,678				7,522
Balance at December 31, 2013		$150			($8	)		($6	)		($10,030	)			($9,894	)
Other comprehensive income/(loss) before reclassifications	(97		)				(137		)	(4,644		)		(4,878		)
Amounts reclassified from AOCI							7			862			(2)	869
Net current period Other comprehensive income/(loss)	(97		)				(130		)	(3,782		)		(4,009		)
Balance at December 31, 2014		$53			($8	)		($136	)		($13,812	)			($13,903	)

⁽¹⁾  Net of tax.

⁽²⁾  Primarily relates to amortization of actuarial losses for the years ended December 31, 2014, 2013, and 2012 totaling $661, $1,516, and $1,304 (net of tax of ($367), ($849), and ($752)), respectively. These are included in the net periodic pension cost of which a portion is allocated to production as inventoried costs. See Note 14.

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Other Assets

12 Months Ended

Dec. 31, 2014

Other Assets [Abstract]

Other Assets

Other Assets

Sea Launch

At December 31, 2014 and 2013, Other assets included $356 of receivables related to our former investment in the Sea Launch venture which became payable by certain Sea Launch partners following Sea Launch’s bankruptcy filing in June 2009. The $356 includes $147 related to a payment made by us under a bank guarantee on behalf of Sea Launch and $209 related to loans (partner loans) we made to Sea Launch. The net amounts owed to Boeing by each of the partners are as follows: S.P. Koroley Rocket and Space Corporation Energia of Russia – $223, PO Yuzhnoye Mashinostroitelny Zavod of Ukraine – $89 and KB Yuzhnoye of Ukraine – $44.

Although each partner is contractually obligated to reimburse us for its share of the bank guarantee, the Russian and Ukrainian partners have raised defenses to enforcement and contested our claims. On October 19, 2009, we filed a Notice of Arbitration with the Stockholm Chamber of Commerce seeking reimbursement from the other Sea Launch partners of the$147 bank guarantee payment. On October 7, 2010, the arbitrator ruled that the Stockholm Chamber of Commerce lacked jurisdiction to hear the matter but did not resolve the merits of our claim. We filed a notice appealing the arbitrator’s ruling on January 11, 2011. On April 11, 2014, the appellate court entered a ruling that the decision of the arbitrator is not appealable. On May 9, 2014, we filed a brief with the Supreme Court of Sweden appealing the appellate court's April 11, 2014 ruling. On February 1, 2013, we filed an action in the United States District Court for the Central District of California seeking reimbursement from the other Sea Launch partners of the $147 bank guarantee payment and the $209 partner loan obligations. A trial in the United States District Court for the Central District of California is scheduled to commence July 14, 2015. We believe the partners have the financial wherewithal to pay and intend to pursue vigorously all of our rights and remedies. In the event we are unable to secure reimbursement of $147 related to our payment under the bank guarantee and $209 related to partner loans made to Sea Launch, we could incur additional charges. Our current assessment as to the collectability of these receivables takes into account the current economic conditions in Russia and Ukraine, although we will continue to monitor the situation.

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Postretirement Plans (Schedule Of Estimated Future Benefit Payments) (Details) (USD $) In Millions, unless otherwise specified	Dec. 31, 2014
Pension Plans [Member]
Defined Benefit Plan Disclosure [Line Items]
Expected future benefit payments, 2015	$ 3,448
Expected future benefit payments, 2016	3,657
Expected future benefit payments, 2017	3,828
Expected future benefit payments, 2018	3,960
Expected future benefit payments, 2019	3,977
Expected future benefit payments, 2020-2024	21,515
Other Postretirement Benefits Plans [Member]
Defined Benefit Plan Disclosure [Line Items]
Expected future benefit payments, 2015	427
Expected future benefit payments, 2016	457
Expected future benefit payments, 2017	478
Expected future benefit payments, 2018	517
Expected future benefit payments, 2019	536
Expected future benefit payments, 2020-2024	2,763
Gross benefits paid, 2015	465
Gross benefits paid, 2016	495
Gross benefits paid, 2017	518
Gross benefits paid, 2018	558
Gross benefits paid, 2019	578
Gross benefits paid, 2020-2024	2,974
Subsidies, 2015	(38)
Subsidies, 2016	(38)
Subsidies, 2017	(40)
Subsidies, 2018	(41)
Subsidies, 2019	(42)
Subsidies, 2020-2024	$ (211)

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Share-Based Compensation And Other Compensation Arrangements

12 Months Ended

Dec. 31, 2014

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Share-Based Compensation And Other Compensation Arrangements

Share-Based Compensation and Other Compensation Arrangements

Share-Based Compensation

Our 2003 Incentive Stock Plan, as amended and restated, permits awards of incentive and non-qualified stock options, stock appreciation rights, restricted stock or units, performance shares, performance restricted stock or units, performance units and other stock and cash-based awards to our employees, officers, directors, consultants, and independent contractors. The aggregate number of shares of our stock authorized for issuance under the plan is 87,000,000.

Shares issued as a result of stock option exercises or conversion of stock unit awards will be funded out of treasury shares, except to the extent there are insufficient treasury shares, in which case new shares will be issued. We believe we currently have adequate treasury shares to satisfy these issuances during 2015.

Share-based plans expense is primarily included in General and administrative expense since it is incentive compensation issued primarily to our executives. The share-based plans expense and related income tax benefit were as follows:

Years ended December 31,	2014		2013		2012
Stock options		$62		$93		$85
Restricted stock units and other awards	133		113		108
Share-based plans expense		$195		$206		$193
Income tax benefit		$70		$76		$75

Stock Options

In February 2013 and 2012, we granted to our executives 6,591,968 and 6,114,922 options, respectively. The options have been granted with an exercise price equal to the fair market value of our stock on the date of grant and expire ten years after the date of grant. The stock options vest over a period of three years, with 34% vesting after the first year, 33% vesting after the second year and the remaining 33% vesting after the third year. If an executive terminates employment for any reason, the non-vested portion of the stock option will not vest and all rights to the non-vested portion will terminate. We discontinued granting options in 2014, replacing them with performance-based restricted stock units.

Stock option activity for the year ended December 31, 2014 is as follows:

	Shares	Weighted Average Exercise Price Per Share		Weighted Average Remaining Contractual Life (Years)	Aggregate Intrinsic Value
Number of shares under option:
Outstanding at beginning of year	23,767,743		$73.97
Granted	20,008	124.98
Exercised	(4,584,615)	74.82
Forfeited	(697,891)	75.70
Expired	(600)	50.57
Outstanding at end of year	18,504,645		$73.75	5.93		$1,041
Exercisable at end of year	13,215,966		$72.74	5.10		$757

The total intrinsic value of options exercised during the years ended December 31, 2014, 2013 and 2012 was $250, $546 and $89, respectively. Cash received from options exercised during the years ended December 31, 2014, 2013 and 2012 was $343, $1,097 and $120 with a related tax benefit of $87, $190 and $29, respectively, derived from the compensation deductions resulting from these option exercises. At December 31, 2014, there was $34 of total unrecognized compensation cost related to our stock option plan which is expected to be recognized over a weighted average period of one year. The grant date fair value of stock options vested during the years ended December 31, 2014, 2013 and 2012 was $87, $89 and $83, respectively.

The fair values of options were estimated using the Black-Scholes option-pricing model with the following assumptions:

Grant Year	Grant Date	Expected Life	Expected Volatility		Expected Dividend Yield		Risk Free Interest Rate		Weighted-Average Grant Date Fair Value Per Share
2013	2/25/2013	6 years	29.0	%	2.6	%	1.0	%		$15.85
2012	2/27/2012	6 years	29.9	%	2.4	%	1.1	%		$16.89

The expected volatility of the stock options is based on a combination of our historical stock volatility and the volatility levels implied on the grant date by actively traded option contracts on our common stock. We determined the expected term of the stock option grants to be six years, calculated using the “simplified” method in accordance with the SEC Staff Accounting Bulletin 110. We use the “simplified” method since we changed the vesting terms, tax treatment and the recipients of our stock options beginning in 2006 such that we believe our historical data prior to 2006 does not provide a reasonable basis upon which to estimate expected term and we do not have enough option exercise data from our grants issued subsequent to 2006 to support our own estimate as a result of vesting terms and changes in the stock price.

Restricted Stock Units

In February 2014, 2013 and 2012, we granted to our executives 695,651, 1,375,414 and 1,369,810restricted stock units (RSUs) as part of our long-term incentive program with grant date fair values of $129.58, $75.97 and $75.40 per unit, respectively. The RSUs granted under this program will vest and settle in common stock (on a one-for-one basis) on the third anniversary of the grant date. If an executive terminates employment because of retirement, involuntary layoff, disability, or death, the employee (or beneficiary) will receive a proration of stock units based on active employment during the three-year service period. In all other cases, the RSUs will not vest and all rights to the stock units will terminate. In addition to RSUs awarded under our long-term incentive program, we grant RSUs to certain executives and employees to encourage retention or to reward various achievements. These RSUs are labeled other RSUs in the table below. The fair values of all RSUs are estimated using the average of the high and low stock prices on the date of grant.

RSU activity for the year ended December 31, 2014 was as follows:

	Long-Term Incentive Program			Other
Number of units:
Outstanding at beginning of year	3,722,317			1,132,930
Granted	729,603			288,600
Dividends	72,387			25,833
Forfeited	(177,986		)	(13,962		)
Distributed	(1,313,782		)	(286,303		)
Outstanding at end of year	3,032,539			1,147,098
Unrecognized compensation cost		$94			$41
Weighted average remaining contractual life (years)	1.7			2.3

The number of vested but undistributed RSUs at December 31, 2014 was not significant.

Performance-Based Restricted Stock Units

Performance-Based Restricted Stock Units (PBRSUs) are stock units that pay out based on the Company’s total shareholder return as compared to a group of peer companies over a three-year period. The award payout can range from 0% to 200% of the initial PBRSU grant, but will not exceed 400% of the initial value (excluding dividend equivalent credits). The PBRSUs granted under this program will vest at the payout amount and settle in common stock (on a one-for-one basis) on the third anniversary of the grant date. If an executive terminates employment because of retirement, involuntary layoff, disability, or death, the employee (or beneficiary) remains eligible under the award and, if the award is earned, will receive a proration of stock units based on active employment during the three-year service period. In all other cases, the PBRSUs will not vest and all rights to the stock units will terminate.

In February 2014, we granted to our executives 662,215 initial PBRSUs as part of our long-term incentive program with a grant date fair value of $136.12 per unit. Compensation expense for the award is recognized over the three-year performance period based upon the grant date fair value estimated using a Monte-Carlo simulation model. The model used the following assumptions: expected volatility of 24.2% based upon our historical stock volatility, a risk-free interest rate of 0.72%, and no expected dividend yield because the units earn dividend equivalents.

PBRSU activity for the year ended December 31, 2014 was as follows:

	Long-Term Incentive Program
Number of units:
Outstanding at beginning of year
Granted	662,215
Dividends	10,497
Forfeited	(49,610		)
Distributed	0
Outstanding at end of year	623,102
Unrecognized compensation cost		$53
Weighted average remaining contractual life (years)	2.1

Other Compensation Arrangements

Performance Awards

Performance Awards are cash units that pay out based on the achievement of long-term financial goals at the end of a three-year period. Each unit has an initial value of $100 dollars. The amount payable at the end of the three-year performance period may be anywhere from $0 to $200 dollars per unit, depending on the Company’s performance against plan for a three-year period. The Compensation Committee has the discretion to pay these awards in cash, stock, or a combination of both after the three-year performance period. Compensation expense, based on the estimated performance payout, is recognized ratably over the performance period.

During 2014, 2013 and 2012, we granted Performance Awards to our executives with the payout based on the achievement of financial goals for each three-year period following the grant date. The minimum payout amount is $0 and the maximum amount we could be required to pay out for the 2014, 2013 and 2012 Performance Awards is $343, $261 and $251, respectively. The 2012 grant is expected to be paid out in cash in March 2015.

Deferred Compensation

The Company has a deferred compensation plan which permits executives to defer receipt of a portion of their salary, bonus, and certain other incentive awards. Participants can diversify deferred compensation among 23 investment funds including a Boeing stock unit account.

Total expense related to deferred compensation was $44, $238 and $75 in 2014, 2013 and 2012, respectively. As of December 31, 2014 and 2013, the deferred compensation liability which is being marked to market was $1,234 and $1,258.

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Liabilities, Commitments And Contingencies (Schedule Of Estimated Potential Funding Dates For Financing Commitments) (Details) (Financing Commitment [Member], USD $) In Millions, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013
Other Commitments, Fiscal Year Maturity [Line Items]
2015	$ 2,552
2016	3,710
2017	3,497
2018	2,305
2019	1,738
Thereafter	2,921
Total	16,723	17,987
External Credit Rating, Non Investment Grade [Member]
Other Commitments, Fiscal Year Maturity [Line Items]
Total	$ 16,723

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Postretirement Plans (Tables)

12 Months Ended

Dec. 31, 2014

General Discussion of Pension and Other Postretirement Benefits [Abstract]

Components Of Net Periodic Benefit Cost

The components of net periodic benefit cost were as follows:

	Pension									Other Postretirement Benefits
Years ended December 31,	2014			2013			2012			2014			2013			2012
Service cost		$1,661			$1,886			$1,649			$129			$148			$146
Interest cost	3,058			2,906			3,005			289			263			313
Expected return on plan assets	(4,169		)	(3,874		)	(3,831		)	(8		)	(6		)	(7		)
Amortization of prior service costs	177			196			225			(144		)	(180		)	(197		)
Recognized net actuarial loss	1,020			2,231			1,937			8			95			119
Settlement/curtailment/other losses	461			104			25			1						(1		)
Net periodic benefit cost		$2,208			$3,449			$3,010			$275			$320			$373
Net periodic benefit cost included in Earnings from operations		$3,215			$3,036			$2,407			$287			$353			$543

Schedule Of Changes In The Benefit Obligation, Plan Assets And Funded Status Of Pensions And OPB

The following tables show changes in the benefit obligation, plan assets and funded status of both pensions and OPB for the years ended December 31, 2014 and 2013. Benefit obligation balances presented below reflect the PBO for our pension plans, and accumulated postretirement benefit obligations (APBO) for our OPB plans.

	Pension						Other Postretirement Benefits
	2014			2013			2014			2013
Change in benefit obligation
Beginning balance		$68,625			$75,895			$7,008			$7,981
Service cost	1,661			1,886			129			148
Interest cost	3,058			2,906			289			263
Plan participants’ contributions	6			8
Amendments	51			111			(43		)	4
Actuarial (gain)/loss	10,655			(9,205		)	334			(905		)
Settlement/curtailment/other	(2,518		)	(81		)	7			(57		)
Gross benefits paid	(3,126		)	(2,874		)	(449		)	(451		)
Subsidies							39			32
Exchange rate adjustment	(21		)	(21		)	(8		)	(7		)
Ending balance		$78,391			$68,625			$7,306			$7,008
Change in plan assets
Beginning balance at fair value		$58,131			$56,178			$140			$110
Actual return on plan assets	5,893			3,316			10			23
Company contribution	784			1,542			8			14
Plan participants’ contributions	6			8			2			3
Settlement/curtailment/other	(640		)	(103		)				11
Benefits paid	(3,039		)	(2,792		)	(19		)	(21		)
Exchange rate adjustment	(16		)	(18		)
Ending balance at fair value		$61,119			$58,131			$141			$140
Amounts recognized in statement of financial position at December 31 consist of:
Other assets		$3			$60
Other accrued liabilities	(93		)	(80		)		($363	)		($340	)
Accrued retiree health care							(6,802		)	(6,528		)
Accrued pension plan liability, net	(17,182		)	(10,474		)
Net amount recognized		($17,272	)		($10,494	)		($7,165	)		($6,868	)

Schedule Of Amounts Recognized In Accumulated Other Comprehensive Loss

Amounts recognized in Accumulated other comprehensive loss at December 31 were as follows:

	Pension				Other Postretirement Benefits
	2014		2013		2014			2013
Net actuarial loss		$21,321		$15,460		$877			$561
Prior service costs/(credits)	385		788		(512		)	(614		)
Total recognized in Accumulated other comprehensive loss		$21,706		$16,248		$365			($53	)

Schedule Of Estimated Amount That Will Be Amortized From Accumulated Other Comprehensive Loss Into Net Periodic Benefit Cost

The estimated amount that will be amortized from Accumulated other comprehensive loss into net periodic benefit cost during the year ended December 31, 2015 is as follows:

	Pension		Other Postretirement Benefits
Recognized net actuarial loss		$1,581		$27
Amortization of prior service costs/(credits)	193		(134		)
Total		$1,774		($107	)

Schedule Of Key Information For All Plans With ABO In Excess Of Plan Assets

Key information for our plans with ABO in excess of plan assets as of December 31 was as follows:

	2014		2013
Projected benefit obligation		$78,358		$63,445
Accumulated benefit obligation	75,622		58,334
Fair value of plan assets	61,082		52,905

Schedule Of Assumptions Used To Calculate The Benefit Obligation and Net Periodic Benefit Costs

The following assumptions, which are the weighted average for all plans, are used to calculate the benefit obligation at December 31 of each year and the net periodic benefit cost for the subsequent year.

December 31,	2014		2013		2012
Discount rate:
Pension	3.90	%	4.80	%	3.80	%
Other postretirement benefits	3.50	%	4.20	%	3.30	%
Expected return on plan assets	7.00	%	7.50	%	7.50	%
Rate of compensation increase	3.80	%	4.00	%	4.00	%

Schedule Of Assumed Health Care Cost Trend Rates

Assumed health care cost trend rates were as follows:

December 31,	2014		2013		2012
Health care cost trend rate assumed next year	7.00	%	7.00	%	7.50	%
Ultimate trend rate	5.00	%	5.00	%	5.00	%
Year that trend reached ultimate rate	2018		2018		2018

Schedule Of One-Percentage-Point Change In Assumed Health Care Cost Trend Rates

A one-percentage-point change in assumed health care cost trend rates would have the following effect:

	Increase		Decrease
Effect on total of service and interest cost		$54		($45	)
Effect on postretirement benefit obligation	736		(613		)

Schedule of actual allocations for pension assets and target allocations by asset class [Table Text Block]

The actual and target allocations by asset class for the pension assets at December 31 were as follows:

	Actual Allocations				Target Allocations
Asset Class	2014		2013		2014		2013
Fixed income	48	%	49	%	47	%	47	%
Global equity	29		29		26		26
Private equity	5		5		6		6
Real estate and real assets	9		8		11		11
Global strategies	4		4		4		4
Hedge funds	5		5		6		6
Total	100	%	100	%	100	%	100	%

Schedule of Allocation of Plan Assets

The following table presents our plan assets using the fair value hierarchy as of December 31, 2014 and 2013. The fair value hierarchy has three levels based on the reliability of the inputs used to determine fair value. Level 1 refers to fair values determined based on quoted prices in active markets for identical assets. Level 2 refers to fair values estimated using significant other observable inputs, and Level 3 includes fair values estimated using significant unobservable inputs.

	December 31, 2014										December 31, 2013
	Total			Level 1		Level 2			Level 3		Total			Level 1		Level 2			Level 3
Fixed income securities:
Corporate		$17,488					$17,486			$2		$15,262					$15,238			$24
U.S. government and agencies	5,224					5,224					4,537					4,537
Mortgage backed and asset backed	1,207					596			611		1,040					491			549
Municipal	1,636					1,636					1,722					1,722
Sovereign	1,073					1,073					1,018					1,018
Common/collective/pooled funds	2,127				$18	2,109					2,538				$16	2,522
Other	498			9		237			252		484					229			255
Derivatives:
Assets	49					49					55					55
Liabilities	(66		)			(66		)			(10		)			(10		)
Cash equivalents and other short-term investments	792					792					801					801
Currency overlay derivatives:
Assets											2					2
Liabilities											(3		)			(3		)
Equity securities:
U.S. common and preferred stock	7,577			7,577							6,919			6,919
Non-U.S. common and preferred stock	7,151			7,139		11			1		7,722			7,721					1
Common/collective/pooled funds	2,658			46		2,443			169		3,239			564		2,675
Derivatives:
Assets	9					9					4					4
Liabilities	(5		)			(5		)			(6		)			(6		)
Private equity	2,955			28					2,927		2,968			10					2,958
Real estate and real assets:
Real estate	3,199			505		41			2,653		2,865			425		16			2,424
Real assets	1,567			370		433			764		1,506			336		464			706
Derivatives:
Assets	2					2					1					1
Liabilities	(11		)			(11		)			(1		)			(1		)
Global strategies	2,248					2,248					2,355					2,355
Hedge funds	3,372					2,411			961		2,776					1,667			1,109
Total		$60,750			$15,692		$36,718			$8,340		$57,794			$15,991		$33,777			$8,026
Cash		$115										$87
Receivables	447										458
Payables	(193		)								(208		)
Total		$61,119										$58,131

Reconciliation Of Level 3 Assets

	January 1 2013 Balance		Net Realized and Unrealized Gains		Net Purchases, Issuances and Settlements			Net Transfers Into/(Out of) Level 3			December 31 2013 Balance
Fixed income securities:
Corporate		$3				$16			$5			$24
Mortgage backed and asset backed	561				(11		)	(1		)	549
Other (2)	245		37		(27		)				255
Equity securities:
Non-U.S. common and preferred stock								1			1
Private equity (2)	2,671		536		(249		)				2,958
Real estate and real assets:
Real estate	2,128		232		64						2,424
Real assets	664		78		(36		)				706
Hedge funds	1,473		183		(627		)	80			1,109
Total		$7,745		$1,066		($870	)		$85			$8,026

The following tables present a reconciliation of Level 3 assets held during the year ended December 31, 2014 and 2013. Transfers into and out of Level 3 are reported at the beginning-of-year values.

	January 1 2014 Balance		Net Realized and Unrealized Gains/(Losses)			Net Purchases, Issuances and Settlements			Net Transfers Into/(Out of) Level 3			December 31 2014 Balance
Fixed income securities:
Corporate (1)		$19					($7	)		($10	)		$2
Mortgage backed and asset  backed(1)	554		14			10			33			611
Other	255		24			(27		)				252
Equity securities:
Non-U.S. common and preferred stock	1					(1		)	1			1
Common/collective/ pooled funds			(24		)	193						169
Private equity	2,958		415			(446		)				2,927
Real estate and real assets:
Real estate	2,424		336			(107		)				2,653
Real assets	706		32			26						764
Hedge funds	1,109		(36		)	61			(173		)	961
Total		$8,026		$761			($298	)		($149	)		$8,340

Schedule Of Estimated Future Benefit Payments

The table below reflects the total pension benefits expected to be paid from the plans or from our assets, including both our share of the benefit cost and the participants’ share of the cost, which is funded by participant contributions. OPB payments reflect our portion only.

Year(s)	2015			2016			2017			2018			2019			2020-2024
Pensions		$3,448			$3,657			$3,828			$3,960			$3,977			$21,515
Other postretirement benefits:
Gross benefits paid	465			495			518			558			578			2,974
Subsidies	(38		)	(38		)	(40		)	(41		)	(42		)	(211		)
Net other postretirement benefits		$427			$457			$478			$517			$536			$2,763

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Postretirement Plans (Schedule Of Changes In The Benefit Obligation, Plan Assets And Funded Status Of Both Pensions And OPB) (Details) (USD $) In Millions, unless otherwise specified	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Defined Benefit Plan, Amounts Recognized in Balance Sheet [Abstract]
Accrued pension plan liability, net	$ (17,182)	$ (10,474)
Pension Plans [Member]
Defined Benefit Plan, Change in Benefit Obligation [Roll Forward]
Beginning balance	68,625	75,895
Service cost	1,661	1,886	1,649
Interest cost	3,058	2,906	3,005
Plan participants’ contributions	6	8
Amendments	51	111
Actuarial (gain)/loss	10,655	(9,205)
Settlement/curtailment/other	(2,518)	(81)
Gross benefits paid	(3,126)	(2,874)
Exchange rate adjustment	(21)	(21)
Ending balance	78,391	68,625	75,895
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Beginning balance at fair value	58,131	56,178
Actual return on plan assets	5,893	3,316
Company contribution	784	1,542
Plan participants’ contributions	6	8
Settlement/curtailment/other	(640)	(103)
Benefits paid	(3,039)	(2,792)
Exchange rate adjustment	(16)	(18)
Ending balance at fair value	61,119	58,131	56,178
Defined Benefit Plan, Amounts Recognized in Balance Sheet [Abstract]
Other assets	3	60
Other accrued liabilities	(93)	(80)
Accrued pension plan liability, net	(17,182)	(10,474)
Net amount recognized	(17,272)	(10,494)
Other Postretirement Benefits Plans [Member]
Defined Benefit Plan, Change in Benefit Obligation [Roll Forward]
Beginning balance	7,008	7,981
Service cost	129	148	146
Interest cost	289	263	313
Plan participants’ contributions	2	3
Amendments	(43)	4
Actuarial (gain)/loss	334	(905)
Settlement/curtailment/other	7	(57)
Gross benefits paid	(449)	(451)
Subsidies	39	32
Exchange rate adjustment	(8)	(7)
Ending balance	7,306	7,008	7,981
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Beginning balance at fair value	140	110
Actual return on plan assets	10	23
Company contribution	8	14
Plan participants’ contributions	2	3
Settlement/curtailment/other		11
Benefits paid	(19)	(21)
Exchange rate adjustment
Ending balance at fair value	141	140	110
Defined Benefit Plan, Amounts Recognized in Balance Sheet [Abstract]
Other accrued liabilities	(363)	(340)
Accrued retiree health care	(6,802)	(6,528)
Net amount recognized	$ (7,165)	$ (6,868)

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Accounts Receivable (Tables)

12 Months Ended

Dec. 31, 2014

Accounts Receivable, Net [Abstract]

Schedule Of Accounts Receivable

Accounts receivable at December 31 consisted of the following:

	2014			2013
U.S. government contracts		$4,281			$3,604
Defense, Space & Security customers (1)	1,018			1,073
Commercial Airplanes customers	1,749			1,072
Reinsurance receivables	512			525
Other	296			376
Less valuation allowance	(127		)	(104		)
Total		$7,729			$6,546

⁽¹⁾  Excludes U.S. government contracts

Schedule Of Accounts Receivable Under Long-Term Contracts

The following table summarizes our accounts receivable under long-term contracts that were unbillable or related to outstanding claims as of December 31:

	Unbillable				Claims
	2014		2013		2014		2013
Current		$2,306		$1,550		$29		$3
Expected to be collected after one year	1,408		1,020		73		61
Total		$3,714		$2,570		$102		$64

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Postretirement Plans (Schedule Of Estimated Amount That Will Be Amortized From Accumulated Other Comprehensive Loss Into Net Periodic Benefit Cost) (Details) (USD $) In Millions, unless otherwise specified	12 Months Ended
	Dec. 31, 2014
Pension Plans [Member]
Defined Benefit Plan Disclosure [Line Items]
Recognized net actuarial loss	$ 1,581
Amortization of prior service costs/(credits)	193
Total	1,774
Other Postretirement Benefits Plans [Member]
Defined Benefit Plan Disclosure [Line Items]
Recognized net actuarial loss	27
Amortization of prior service costs/(credits)	(134)
Total	$ (107)

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Consolidated Statements of Comprehensive Income (Parenthetical) (USD $) In Millions, unless otherwise specified	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Unrealized (loss)/gain on derivative instruments:
Unrealized gain/(loss) arising during period, tax	$ 77	$ 42	$ (13)
Reclassification adjustment for loss included in net earnings, tax	(4)	9	3
Defined benefit pension plans & other postretirement benefits:
Net actuarial loss arising during the period, tax	2,588	(3,437)	1,382
Amortization of actuarial losses included in net periodic pension cost, tax	(367)	(849)	(752)
Settlements and curtailments included in net income, tax	(101)	(33)	(9)
Pension and post retirement benefits related to our equity method investments, tax	15	(13)	(74)
Amortization of prior service cost included in net periodic pension cost, tax	(12)	(6)	(10)
Prior service cost arising during the period, tax	$ 3	$ 41	$ 9

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Investments (Schedule Of Investments) (Details) (USD $) In Millions, unless otherwise specified	12 Months Ended
	Dec. 31, 2014		Dec. 31, 2013
Investments Schedule [Abstract]
Time deposits	$ 1,295		$ 6,090
Pledged money market funds	38	[1]	46	[1]
Available-for-sale investments	7		8
Equity method investments	1,114	[2]	1,164	[2]
Restricted cash	26	[3]	33	[3]
Other investments	33		33
Total	2,513		7,374
Equity Method Investments and Joint Ventures [Abstract]
Dividends received from equity method investments	293		226
Undistributed earnings from equity method investments	$ 158

[1] Reflects amounts pledged in lieu of letters of credit as collateral in support of our workers’ compensation programs. These funds can become available within 30 days notice upon issuance of letters of credit.

[2] Dividends received were $293 and $226 during 2014 and 2013. Retained earnings at December 31, 2014 include undistributed earnings from our equity method investments of $158.

[3] Restricted to pay certain claims related to workers’ compensation and life insurance premiums for certain employees.

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Consolidated Statements Of Equity (Parenthetical) (USD $) In Millions, except Per Share data, unless otherwise specified	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Statement of Stockholders' Equity [Abstract]
Other Comprehensive Income (loss), Tax	$ 2,199	$ (4,246)	$ 536
Cash dividends declared, per share	$ 3.100	$ 2.185	$ 1.805

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Goodwill And Acquired Intangibles (Narrative) (Details) (USD $) In Millions, unless otherwise specified	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013
Goodwill and Intangible Assets Disclosure [Abstract]
Carrying amount of indefinite-lived intangible assets relating to trade names	$ 490	$ 497
Amortization expense of acquired finite-lived intangible assets	227	205
Finite-lived Intangible Assets Acquired	87	144
Non-cash investing and financing transactions related to acquired finite-lived intangibles	24	0
Total acquired finite-lived intangible assets remaining unpaid	$ 24	$ 182

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Customer Financing (Schedule of Customer Financing Carrying Values Related to Major Aircraft Concentrations) (Details) (USD $) In Millions, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013
Customer Financing [Line Items]
Gross customer financing	$ 3,582	$ 4,020
Operating lease equipment	1,677	1,734
717 Aircraft [Member]
Customer Financing [Line Items]
Gross customer financing	1,562	1,674
Operating lease equipment	421	444
B747 aircraft [Member]
Customer Financing [Line Items]
Gross customer financing	601	286
Operating lease equipment	601	183
757 Aircraft [Member]
Customer Financing [Line Items]
Gross customer financing	370	453
Operating lease equipment	349	402
MD-80 Aircraft [Member]
Customer Financing [Line Items]
Gross customer financing	358	411
Operating lease equipment
767 Aircraft [Member]
Customer Financing [Line Items]
Gross customer financing	158	207
Operating lease equipment	47	60
737 Aircraft [Member]
Customer Financing [Line Items]
Gross customer financing	156	210
Operating lease equipment	127	138
MD-11 Aircraft [Member]
Customer Financing [Line Items]
Gross customer financing	114	220
Operating lease equipment	114	220
787 Aircraft [Member]
Customer Financing [Line Items]
Gross customer financing		273
Operating lease equipment		$ 273

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Postretirement Plans (Schedule Of Amounts Recognized In Accumulated Other Comprehensive Loss) (Details) (USD $) In Millions, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013
Pension Plans [Member]
Defined Benefit Plan Disclosure [Line Items]
Net actuarial loss	$ 21,321	$ 15,460
Prior service costs/(credits)	385	788
Total recognized in Accumulated other comprehensive loss	21,706	16,248
Other Postretirement Benefits Plans [Member]
Defined Benefit Plan Disclosure [Line Items]
Net actuarial loss	877	561
Prior service costs/(credits)	(512)	(614)
Total recognized in Accumulated other comprehensive loss	$ 365	$ (53)

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Income Taxes (Net Deferred Tax Assets and Liabilities) (Details) (USD $) In Millions, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013
Components of Deferred Tax Assets and Liabilities [Abstract]
Deferred tax assets	$ 14,219	$ 12,486
Deferred tax liabilities	(16,028)	(15,664)
Valuation allowance	(81)	(125)
Net deferred tax (liabilities)/assets	$ (1,890)	$ (3,303)

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Shareholders' Equity

12 Months Ended

Dec. 31, 2014

Stockholders' Equity Note [Abstract]

Shareholders' Equity

Shareholders’ Equity

On December 15, 2014, the Board approved a new repurchase plan for up to $12,000 of common stock, replacing the previously authorized program. The program will expire when we have used all authorized funds or is otherwise terminated.

As of December 31, 2014 and 2013, there were 1,200,000,000 shares of common stock and 20,000,000 shares of preferred stock authorized. No preferred stock has been issued.

Changes in Share Balances

The following table shows changes in each class of shares:

	Common Stock	Treasury Stock
Balance at January 1, 2012	1,012,261,159	267,556,388
Issued		(11,935,423	)
Acquired		1,009,663
Balance at December 31, 2012	1,012,261,159	256,630,628
Issued		(17,903,704	)
Acquired		26,155,537
Balance at December 31, 2013	1,012,261,159	264,882,461
Issued		(6,719,270	)
Acquired		47,370,415
Balance at December 31, 2014	1,012,261,159	305,533,606

Accumulated Other Comprehensive Loss

Changes in Accumulated other comprehensive income/(loss) (AOCI) by component for the years ended December 31, 2014, 2013 and 2012 were as follows:

	Currency Translation Adjustments			Unrealized Gains and Losses on Certain Investments			Unrealized Gains and Losses on Derivative Instruments			Defined Benefit Pension Plans & Other Postretirement Benefits				Total (1)
Balance at January 1, 2012		$197			($8	)		$66			($16,755	)			($16,500	)
Other comprehensive income/(loss) before reclassifications	17						25			(2,290		)		(2,248		)
Amounts reclassified from AOCI							(5		)	1,337			(2)	1,332
Net current period Other comprehensive loss	17						20			(953		)		(916		)
Balance at December 31, 2012		$214			($8	)		$86			($17,708	)			($17,416	)
Other comprehensive income/(loss) before reclassifications	(64		)				(75		)	6,093				5,954
Amounts reclassified from AOCI							(17		)	1,585			(2)	1,568
Net current period Other comprehensive income/(loss)	(64		)				(92		)	7,678				7,522
Balance at December 31, 2013		$150			($8	)		($6	)		($10,030	)			($9,894	)
Other comprehensive income/(loss) before reclassifications	(97		)				(137		)	(4,644		)		(4,878		)
Amounts reclassified from AOCI							7			862			(2)	869
Net current period Other comprehensive income/(loss)	(97		)				(130		)	(3,782		)		(4,009		)
Balance at December 31, 2014		$53			($8	)		($136	)		($13,812	)			($13,903	)

⁽¹⁾  Net of tax.

⁽²⁾  Primarily relates to amortization of actuarial losses for the years ended December 31, 2014, 2013, and 2012 totaling $661, $1,516, and $1,304 (net of tax of ($367), ($849), and ($752)), respectively. These are included in the net periodic pension cost of which a portion is allocated to production as inventoried costs. See Note 14.

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Share-Based Compensation And Other Compensation Arrangements (Schedule Of Share-Based Plans Expense And Related Income Tax Benefit) (Details) (USD $) In Millions, unless otherwise specified	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based plans expense	$ 195	$ 206	$ 193
Income tax benefit	70	76	75
Stock Options [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based plans expense	62	93	85
Restricted Stock Units and Other Awards [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based plans expense	$ 133	$ 113	$ 108

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Fair Value Measurements Fair Value, Assets Measured On Nonrecurring Basis, Valuation Techniques (Details) (USD $) In Millions, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013
Aircraft Value Publications [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis, Valuation Techniques [Line Items]
Equipment under operating leases & Assets held for sale or re-lease, Median	$ 238
Aircraft Value Publications [Member] | Minimum [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis, Valuation Techniques [Line Items]
Equipment under operating leases & Assets held for sale or re-lease, Range	158
Aircraft Value Publications [Member] | Maximum [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis, Valuation Techniques [Line Items]
Equipment under operating leases & Assets held for sale or re-lease, Range	268
Aircraft Condition Adjustments [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis, Valuation Techniques [Line Items]
Equipment under operating leases & Assets held for sale or re-lease, Net	(51)
Aircraft Condition Adjustments [Member] | Minimum [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis, Valuation Techniques [Line Items]
Equipment under operating leases & Assets held for sale or re-lease, Range	(58)
Aircraft Condition Adjustments [Member] | Maximum [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis, Valuation Techniques [Line Items]
Equipment under operating leases & Assets held for sale or re-lease, Range	7
Fair Value Measurements Nonrecurring [Member] | Level 3 [Member] | Market Approach Valuation Technique [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis, Valuation Techniques [Line Items]
Operating Lease Equipment, Fair Value	$ 187	$ 216

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Derivative Financial Instruments (Schedule Of Derivative Instruments, Gains/(Losses) In Statement Of Financial Performance) (Details) (USD $) In Millions, unless otherwise specified	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Derivative [Line Items]
Effective portion recognized in other comprehensive loss, net of taxes	$ (137)	$ (75)	$ 25
Effective portion reclassified out of Accumulated other comprehensive loss into earnings, net of taxes	(7)	17	5
Foreign Exchange Contracts [Member]
Derivative [Line Items]
Effective portion recognized in other comprehensive loss, net of taxes	(135)	(76)
Effective portion reclassified out of Accumulated other comprehensive loss into earnings, net of taxes	6	37
Forward points recognized in Other income, net	28	34
Undesignated derivatives recognized in Other income, net:	(7)	17
Commodity Contracts [Member]
Derivative [Line Items]
Effective portion recognized in other comprehensive loss, net of taxes	(2)	1
Effective portion reclassified out of Accumulated other comprehensive loss into earnings, net of taxes	$ (13)	$ (20)

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Inventories (Narrative) (Details) (USD $) In Millions, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013
Inventories [Line Items]
Progress Payments Netted Against Inventory for Long-term Contracts or Programs	$ 29,266	$ 25,554
Airplane Program 787 [Member]
Inventories [Line Items]
Inventory, work in process	33,163	27,576
Deferred production costs	26,149	21,620
Supplier advances	2,257	2,189
Unamortized tooling and other non-recurring costs	3,801	3,377
Deferred production, unamortized tooling and other nonrecurring costs to be recovered from firm orders at the balance sheet date	20,982
Deferred production, unamortized tooling and other nonrecurring costs to be recovered from future orders	8,968
Airplane Program 747 [Member]
Inventories [Line Items]
Deferred production costs	1,741	1,554
Unamortized tooling and other non-recurring costs	476	563
Deferred production, unamortized tooling and other nonrecurring costs to be recovered from firm orders at the balance sheet date	1,047
Deferred production, unamortized tooling and other nonrecurring costs to be recovered from future orders	1,170
Capitalized Precontract Costs [Member]
Inventories [Line Items]
Inventory subject to uncertainty	1,281	520
Early Issue Sales Consideration [Member]
Inventories [Line Items]
Inventory subject to uncertainty	3,341	3,465
ULA [Member]
Inventories [Line Items]
Inventory subject to uncertainty	154	425
Progress Payments Netted Against Inventory for Long-term Contracts or Programs	322	331
ULA [Member] | Unsold Launches [Member]
Inventories [Line Items]
Inventory subject to uncertainty	$ 292

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Goodwill And Acquired Intangibles (Tables)

12 Months Ended

Dec. 31, 2014

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule Of Goodwill By Reportable Segment

Changes in the carrying amount of goodwill by reportable segment for the years ended December 31, 2014 and 2013 were as follows:

	Commercial Airplanes			Boeing Military Aircraft		Network & Space Systems			Global Services & Support		Total
Balance at January 1, 2013		$2,125			$946		$1,513			$451		$5,035
Acquisitions				18					7		25
Goodwill adjustments	(17		)								(17		)
Balance at December 31, 2013		$2,108			$964		$1,513			$458		$5,043
Acquisitions	45					57					102
Goodwill adjustments	(22		)			(4		)			(26		)
Balance at December 31, 2014		$2,131			$964		$1,566			$458		$5,119

Schedule Of Finite-Lived Intangible Assets

The gross carrying amounts and accumulated amortization of our acquired finite-lived intangible assets were as follows at December 31:

	2014				2013
	Gross Carrying Amount		Accumulated Amortization		Gross Carrying Amount		Accumulated Amortization
Distribution rights		$2,245		$550		$2,275		$483
Product know-how	494		216		507		199
Customer base	619		381		615		347
Developed technology	500		386		853		742
Other	202		148		233		157
Total		$4,060		$1,681		$4,483		$1,928

Schedule of Finite-Lived Intangible Assets, Future Amortization Expense

Estimated amortization expense for the five succeeding years is as follows:

	2015		2016		2017		2018		2019
Estimated amortization expense		$215		$210		$201		$190		$182

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Investments

12 Months Ended

Dec. 31, 2014

Investments [Abstract]

Investments

Investments

Our investments, which are recorded in Short-term and other investments or Investments, consisted of the following at December 31:

	2014		2013
Time deposits		$1,295		$6,090
Pledged money market funds(1)	38		46
Available-for-sale investments	7		8
Equity method investments (2)	1,114		1,164
Restricted cash(3)	26		33
Other investments	33		33
Total		$2,513		$7,374

⁽¹⁾  Reflects amounts pledged in lieu of letters of credit as collateral in support of our workers’ compensation programs. These funds can become available within 30 days notice upon issuance of letters of credit.

⁽²⁾  Dividends received were $293 and $226 during 2014 and 2013. Retained earnings at December 31, 2014 include undistributed earnings from our equity method investments of $158.

⁽³⁾  Restricted to pay certain claims related to workers’ compensation and life insurance premiums for certain employees.

Equity Method Investments

Our equity method investments consisted of the following as of December 31:

	Segment	Ownership Percentages	Investment Balance
			2014		2013
United Launch Alliance	Network & Space Systems (N&SS)	50%		$916		$970
Other	Commercial Airplanes, N&SS and Global Services & Support (GS&S)		198		194
Total equity method investments				$1,114		$1,164

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Debt (Scheduled Principal Payments For Debt And Capital Lease Obligations) (Details) (USD $) In Millions, unless otherwise specified	Dec. 31, 2014
Debt Disclosure [Abstract]
2014	$ 937
2015	1,098
2016	331
2017	653
2018	$ 1,235