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.