EX-12 2 a201412dec3110kexhibit12.htm COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES 2014 12 Dec 31 10K Exhibit 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.