Impact of Adoption of New Standards Impact of Adoption of New Standards (Tables)

9 Months Ended

Sep. 30, 2018

Accounting Changes and Error Corrections [Abstract]

Schedule of New Accounting Pronouncements and Changes in Accounting Principles [Table Text Block]

Impact of Adoption of New Standards

In the first quarter of 2018, we adopted the following ASUs: ASU No. 2014-09, Revenue from Contracts with Customers (Topic 606); ASU No. 2017-07, Compensation - Retirement Benefits (Topic 715): Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost; ASU 2016-18 Statement of Cash Flows (Topic 230) Restricted Cash; and ASU 2018-02 Income Statement—Reporting Comprehensive Income (Topic 220): Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income.

The impact to our unaudited Condensed Consolidated Financial Statements as a result of adopting these standards was as follows:

Condensed Consolidated Statement of Operations (Unaudited)

	Nine months ended September 30, 2017									Three months ended September 30, 2017
(Dollars in millions)	Reported			Impact of New Standards			Restated			Reported			Impact of New Standards			Restated
Sales of products		$60,484			$1,183			$61,667			$21,825			($43	)		$21,782
Sales of services	7,540			28			7,568			2,484			(43		)	2,441
Total revenues	68,024			1,211			69,235			24,309			(86		)	24,223
Cost of products	(49,856		)	(1,080		)	(50,936		)	(18,050		)				(18,050		)
Cost of services	(5,730		)	(12		)	(5,742		)	(1,910		)	31			(1,879		)
Boeing Capital interest expense	(53		)				(53		)	(27		)				(27		)
Total costs and expenses	(55,639		)	(1,092		)	(56,731		)	(19,987		)	31			(19,956		)
	12,385			119			12,504			4,322			(55		)	4,267
Income from operating investments, net	169						169			49						49
General and administrative expense	(2,888		)	(2		)	(2,890		)	(915		)	(3		)	(918		)
Research and development expense, net	(2,418		)	1			(2,417		)	(767		)	(1		)	(768		)
Earnings from operations	7,248			118			7,366			2,689			(59		)	2,630
Other income, net	94			(3		)	91			45			(5		)	40
Interest and debt expense	(267		)				(267		)	(87		)				(87		)
Earnings before income taxes	7,075			115			7,190			2,647			(64		)	2,583
Income tax expense	(2,010		)	(42		)	(2,052		)	(794		)	21			(773		)
Net earnings		$5,065			$73			$5,138			$1,853			($43	)		$1,810
Basic earnings per share		$8.37			$0.12			$8.49			$3.10			($0.07	)		$3.03
Diluted earnings per share		$8.27			$0.12			$8.39			$3.06			($0.07	)		$2.99

Condensed Consolidated Statement of Financial Position

(Dollars in millions)	December 31, 2017
Assets	Reported			Impact of New Standards			Restated
Cash and cash equivalents		$8,813						$8,813
Short-term and other investments	1,179						1,179
Accounts receivable, net	10,516				($7,622	)	2,894
Unbilled receivables, net				8,194			8,194
Current portion of customer financing, net	309						309
Inventories	44,344			17,044			61,388
Other current assets				2,417			2,417
Total current assets	65,161			20,033			85,194
Customer financing, net	2,740			16			2,756
Property, plant and equipment, net	12,672						12,672
Goodwill	5,559						5,559
Acquired intangible assets, net	2,573						2,573
Deferred income taxes	341			(20		)	321
Investments	1,260						1,260
Other assets, net of accumulated amortization	2,027						2,027
Total assets		$92,333			$20,029			$112,362
Liabilities and equity
Accounts payable		$12,202						$12,202
Accrued liabilities	15,292				($2,223	)	13,069
Advances and billings in excess of related costs	27,440			(27,440		)
Advances and progress billings				48,042			48,042
Short-term debt and current portion of long-term debt	1,335						1,335
Total current liabilities	56,269			18,379			74,648
Deferred income taxes	1,839			349			2,188
Accrued retiree health care	5,545						5,545
Accrued pension plan liability, net	16,471						16,471
Other long-term liabilities	2,015						2,015
Long-term debt	9,782						9,782
Shareholders’ equity:
Common stock	5,061						5,061
Additional paid-in capital	6,804						6,804
Treasury stock, at cost	(43,454		)				(43,454		)
Retained earnings	45,320			4,298			49,618
Accumulated other comprehensive loss	(13,376		)	(2,997		)	(16,373		)
Total shareholders’ equity	355			1,301			1,656
Noncontrolling interests	57						57
Total equity	412			1,301			1,713
Total liabilities and equity		$92,333			$20,029			$112,362

Condensed Consolidated Statement of Cash Flows (Unaudited)

(Dollars in millions)	Nine months ended September 30, 2017
	Reported			Impact of New Standards			Restated
Cash flows - operating activities:
Net earnings		$5,065			$73			$5,138
Adjustments to reconcile net earnings to net cash provided by operating activities:
Non-cash items -
Share-based plans expense	151						151
Depreciation and amortization	1,487			(17		)	1,470
Investment/asset impairment charges, net	75						75
Customer financing valuation expense	4						4
Other charges and credits, net	190			6			196
Changes in assets and liabilities -
Accounts receivable	(1,983		)	1,425			(558		)
Unbilled receivables				(1,805		)	(1,805		)
Advances and progress billings				4,714			4,714
Inventories	254			(1,054		)	(800		)
Other current assets				(337		)	(337		)
Accounts payable	778			2			780
Accrued liabilities	112			(214		)	(102		)
Advances and billings in excess of related costs	2,828			(2,828		)
Income taxes receivable, payable and deferred	1,465			42			1,507
Other long-term liabilities	25						25
Pension and other postretirement plans	(550		)				(550		)
Customer financing, net	635			(1		)	634
Other	(96		)	(3		)	(99		)
Net cash provided by operating activities	10,440			3			10,443
Cash flows - investing activities:
Property, plant and equipment additions	(1,304		)				(1,304		)
Property, plant and equipment reductions	30						30
Contributions to investments	(2,847		)	32			(2,815		)
Proceeds from investments	2,612						2,612
Purchase of distribution rights	(131		)				(131		)
Other	4			3			7
Net cash used by investing activities	(1,636		)	35			(1,601		)
Cash flows - financing activities:
New borrowings	876						876
Debt repayments	(83		)				(83		)
Stock options exercised	291						291
Employee taxes on certain share-based payment arrangements	(118		)				(118		)
Common shares repurchased	(7,500		)				(7,500		)
Dividends paid	(2,575		)				(2,575		)
Net cash used by financing activities	(9,109		)				(9,109		)
Effect of exchange rate changes on cash & cash equivalents, including restricted	73						73
Net (decrease)/increase in cash & cash equivalents, including restricted	(232		)	38			(194		)
Cash & cash equivalents, including restricted*, at beginning of year	8,801			68			8,869
Cash & cash equivalents, including restricted*, at end of period		$8,569			$106		8,675
Less restricted cash & cash equivalents, included in Investments							106
Cash and cash equivalents at end of period								$8,569

* Reported balance excludes restricted amounts

Condensed Consolidated Statements of Equity (Unaudited)

	Boeing shareholders
(Dollars in millions)	Common Stock		Additional Paid-In Capital		Treasury Stock			Retained Earnings		Accumulated Other Comprehensive Loss			Non- controlling Interests		Total
Balance at January 1, 2017, as reported		$5,061		$4,762		($36,097	)		$40,714		($13,623	)		$60		$877
Cumulative Impact of Topic 606 at 1/1/2016								901							901
Impact of Topic 606 on 2016 earnings								139							139
Balance at January 1, 2017, as restated		$5,061		$4,762		($36,097	)		$41,754		($13,623	)		$60		$1,917

	Boeing shareholders
(Dollars in millions)	Common Stock		Additional Paid-In Capital		Treasury Stock			Retained Earnings		Accumulated Other Comprehensive Loss			Non- controlling Interests		Total
Balance at December 31, 2017, as reported		$5,061		$6,804		($43,454	)		$45,320		($13,376	)		$57		$412
Cumulative Impact of Topic 606 at 1/1/2016								901							901
Impact of Topic 606 on 2016 earnings								139							139
Impact of Topic 606 on 2017 earnings								261							261
Total impact of ASC 606 through December 31, 2017								1,301							1,301
Impact of ASU 2018-02								2,997		(2,997		)
Balance at December 31, 2017, as restated		$5,061		$6,804		($43,454	)		$49,618		($16,373	)		$57		$1,713