Impact of Adoption of New Standards (Notes)

12 Months Ended

Dec. 31, 2018

Accounting Changes and Error Corrections [Abstract]

New Accounting Pronouncements and Changes in Accounting Principles [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 Consolidated Financial Statements as a result of adopting these standards was as follows:

Consolidated Statements of Operations

Years ended December 31	2017									2016
(Dollars in millions, except per share data)	Reported			Impact of New Standards			Restated			Reported			Impact of New Standards			Restated
Sales of products		$83,204			$536			$83,740			$84,399			($1,201	)		$83,198
Sales of services	10,188			77			10,265			10,172			126			10,298
Total revenues	93,392			613			94,005			94,571			(1,075		)	93,496
Cost of products	(68,365		)	(514		)	(68,879		)	(72,713		)	1,700			(71,013		)
Cost of services	(7,631		)	(32		)	(7,663		)	(8,018		)	64			(7,954		)
Boeing Capital interest expense	(70		)				(70		)	(59		)				(59		)
Total costs and expenses	(76,066		)	(546		)	(76,612		)	(80,790		)	1,764			(79,026		)
	17,326			67			17,393			13,781			689			14,470
Income from operating investments, net	204						204			303						303
General and administrative expense	(4,094		)	(1		)	(4,095		)	(3,616		)	3			(3,613		)
Research and development expense, net	(3,179		)				(3,179		)	(4,627		)	1			(4,626		)
Gain/(loss) on dispositions, net	21						21			(7		)				(7		)
Earnings from operations	10,278			66			10,344			5,834			693			6,527
Other income/(loss), net	129			(6		)	123			40			(478		)	(438		)
Interest and debt expense	(360		)				(360		)	(306		)				(306		)
Earnings before income taxes	10,047			60			10,107			5,568			215			5,783
Income tax expense	(1,850		)	201			(1,649		)	(673		)	(76		)	(749		)
Net earnings		$8,197			$261			$8,458			$4,895			$139			$5,034
Basic earnings per share		$13.60			$0.43			$14.03			$7.70			$0.22			$7.92
Diluted earnings per share		$13.43			$0.42			$13.85			$7.61			$0.22			$7.83

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

Consolidated Statements of Cash Flows

Years ended December 31	2017									2016
(Dollars in millions)	Reported			Impact of New Standards			Restated			Reported			Impact of New Standards			Restated
Cash flows - operating activities:
Net earnings		$8,197			$261			$8,458			$4,895			$139			$5,034
Adjustments to reconcile net earnings to net cash provided by operating activities:
Non-cash items -
Share-based plans expense	202						202			190						190
Depreciation and amortization	2,069			(22		)	2,047			1,910			(21		)	1,889
Investment/asset impairment charges, net	113						113			90						90
Customer financing valuation expense/(benefit)	2						2			(7		)				(7		)
(Gain)/loss on dispositions, net	(21		)				(21		)	7						7
Other charges and credits, net	287			6			293			369			2			371
Changes in assets and liabilities -
Accounts receivable	(1,821		)	981			(840		)	112			214			326
Unbilled receivables				(1,600		)	(1,600		)				792			792
Advances and progress billings				4,700			4,700						(1,362		)	(1,362		)
Inventories	(1,085		)	(318		)	(1,403		)	3,755			249			4,004
Other current assets				(19		)	(19		)				(200		)	(200		)
Accounts payable	130						130			622						622
Accrued liabilities	573			(238		)	335			726			(414		)	312
Advances and billings in excess of related costs	3,570			(3,570		)				(493		)	493
Income taxes receivable, payable and deferred	857			(201		)	656			(810		)	76			(734		)
Other long-term liabilities	94						94			(68		)				(68		)
Pension and other postretirement plans	(582		)				(582		)	153						153
Customer financing, net	1,017			24			1,041			(696		)	34			(662		)
Other	(258		)	(2		)	(260		)	(256		)	(5		)	(261		)
Net cash provided by operating activities	13,344			2			13,346			10,499			(3		)	10,496
Cash flows - investing activities:
Property, plant and equipment additions	(1,739		)				(1,739		)	(2,613		)				(2,613		)
Property, plant and equipment reductions	92						92			38						38
Acquisitions, net of cash acquired	(324		)				(324		)	(297		)				(297		)
Contributions to investments	(3,601		)	32			(3,569		)	(1,719		)				(1,719		)
Proceeds from investments	3,639			(32		)	3,607			1,209			(3		)	1,206
Purchase of distribution rights	(131		)				(131		)
Other	2			4			6			2			5			7
Net cash used by investing activities	(2,062		)	4			(2,058		)	(3,380		)	2			(3,378		)
Cash flows - financing activities:
New borrowings	2,077						2,077			1,325						1,325
Debt repayments	(953		)				(953		)	(1,359		)				(1,359		)
Repayments of distribution rights and other asset financing										(24		)				(24		)
Stock options exercised	311						311			321						321
Employee taxes on certain share-based payment arrangements	(132		)				(132		)	(93		)				(93		)
Common shares repurchased	(9,236		)				(9,236		)	(7,001		)				(7,001		)
Dividends paid	(3,417		)				(3,417		)	(2,756		)				(2,756		)
Net cash used by financing activities	(11,350		)				(11,350		)	(9,587		)				(9,587		)
Effect of exchange rate changes on cash & cash equivalents, including restricted	80						80			(33		)				(33		)
Net increase/(decrease) in cash & cash equivalents, including restricted	12			6			18			(2,501		)	(1		)	(2,502		)
Cash & cash equivalents, including restricted*, at beginning of year	8,801			68			8,869			11,302			69			11,371
Cash & cash equivalents, including restricted*, at end of year	8,813			74			8,887			8,801				$68		8,869
Less restricted cash & cash equivalents, included in Investments							74									68
Cash and cash equivalents at end of year								$8,813									$8,801

* Reported balance excludes restricted amounts

Consolidated Statements of Equity

	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, 2016, as reported		$5,061		$4,834		($29,568	)		$38,756		($12,748	)		$62		$6,397
Cumulative Impact of Topic 606 at 1/1/2016								901							901
Balance at January 1, 2016, as restated	$5,061			$4,834		($29,568	)		$39,657		($12,748	)		$62	7,298

	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