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Postretirement Plans (Tables)
 12 Months Ended
Dec. 31, 2022
Retirement Benefits, Description [Abstract]  
Components of Net Periodic Benefit Cost
The components of net periodic benefit (income)/cost were as follows:
PensionOther Postretirement Benefits
Years ended December 31,202220212020202220212020
Service cost$3 $3 $3 $72 $87 $89 
Interest cost2,080 1,988 2,455 98 97 130 
Expected return on plan assets(3,789)(3,848)(3,756)(10)(7)(9)
Amortization of prior service credits(81)(80)(80)(35)(35)(38)
Recognized net actuarial loss/(gain)913 1,219 1,032 (111)(56)(63)
Settlement/curtailment (gain)/loss(4)193 9 (4)
Net periodic benefit (income)/cost($878)($525)($337)$14 $86 $105 
Net periodic benefit cost included in Loss from operations$3 $3 $3 $79 $90 $91 
Net periodic benefit (income)/cost included in Other income, net(881)(528)(340)(58)(1)16 
Net periodic benefit (income)/cost included in Loss before income taxes
($878)($525)($337)$21 $89 $107 
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, 2022 and 2021. Benefit obligation balances presented below reflect the PBO for our pension plans and accumulated postretirement benefit obligations (APBO) for our OPB plans.
PensionOther Postretirement Benefits
2022202120222021
Change in benefit obligation
Beginning balance$75,635 $82,415 $4,092 $4,693 
Service cost3 3 72 87 
Interest cost2,080 1,988 98 97 
Amendments1  
Actuarial (gain)/loss(17,605)(3,249)(914)(401)
Settlement/other (870)
Gross benefits paid(4,971)(4,653)(406)(411)
Subsidies 39 26 
Exchange rate adjustment(26)1 (3)1 
Ending balance$55,117 $75,635 $2,978 $4,092 
Change in plan assets
Beginning balance at fair value$67,813 $68,696 $172 $160 
Actual return on plan assets(13,141)4,477 (27)21 
Company contribution2 11 
Plan participants’ contributions 6 6 
Settlement payments
 (870)
Benefits paid(4,824)(4,502)(11)(15)
Exchange rate adjustment(25)1 
Ending balance at fair value$49,825 $67,813 $140 $172 
Amounts recognized in statement of financial position at December 31 consist of:
Other assets$987 $1,426 $21 
Accrued liabilities(138)(144)(356)($392)
Accrued retiree health care(2,503)(3,528)
Accrued pension plan liability, net(6,141)(9,104)
Net amount recognized($5,292)($7,822)($2,838)($3,920)
Schedule of Amounts Recognized in Accumulated Other Comprehensive Loss
Amounts recognized in Accumulated other comprehensive loss at December 31 were as follows:
PensionOther Postretirement Benefits
2022202120222021
Net actuarial loss/(gain)$17,448 $19,031 ($1,862)($1,092)
Prior service credits(1,224)(1,306)(41)(76)
Total recognized in Accumulated other comprehensive loss$16,224 $17,725 ($1,903)($1,168)
Schedule of Key Information for All Plans with ABO in Excess of Plan Assets Key information for our plans with ABO and PBO in excess of plan assets as of December 31 was as follows:
20222021
Accumulated benefit obligation$48,134 $66,406 
Fair value of plan assets42,491 58,593 
20222021
Projected benefit obligation$48,770 $67,841 
Fair value of plan assets42,491 58,593 
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 31,202220212020
Discount rate:
Pension5.40 %2.80 %2.50 %
Other postretirement benefits5.30 %2.50 %2.00 %
Expected return on plan assets6.00 %6.30 %6.50 %
Rate of compensation increase4.30 %4.30 %4.30 %
Interest crediting rates for cash balance plans5.00 %5.00 %5.00 %
Schedule of Assumed Health Care Cost Trend Rates
Assumed health care cost trend rates were as follows:
December 31,202220212020
Health care cost trend rate assumed next year5.50 %4.50 %4.50 %
Ultimate trend rate4.50 %4.50 %4.50 %
Year that trend reaches ultimate rate202820212021
Schedule of Actual Allocations for Pension Assets and Target Allocations by Asset Class The actual and target allocations by asset class for the pension assets at December 31 were as follows:
Actual AllocationsTarget Allocations
Asset Class2022202120222021
Fixed income63 %61 %63 %63 %
Global equity14 16 20 20 
Private equity8 8 4 4 
Real estate and real assets8 8 7 7 
Hedge funds7 7 6 6 
Total100 %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, 2022 and 2021. 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, 2022December 31, 2021
TotalLevel 1Level 2Level 3TotalLevel 1Level 2Level 3
Fixed income securities:
Corporate$15,095 $15,025 $70 $20,573 $20,520 $53 
U.S. government and agencies
7,827 7,827 11,285 11,285 
Mortgage backed and asset backed
664 502 162 777 675 102 
Municipal843 811 32 1,064 1,035 29 
Sovereign706 706 1,135 1,126 9 
Other 8 $8 3 $3 
Derivatives:
Assets36 36 62 62 
Liabilities(87)(87)(48)(48)
Cash equivalents and other short-term investments
571 571 448 448 
Equity securities:
U.S. common and preferred stock
2,931 2,931 4,463 4,463 
Non-U.S. common and preferred stock
2,023 2,023 3,345 3,340 5 
Boeing company stock1,782 1,782 1,883 1,883 
Derivatives:
Assets1 1 
Liabilities(1)(1)(1)(1)
Private equity
Real estate and real assets:
Real estate413 413 
Real assets362 310 47 5 784 749 35 
Derivatives:
Assets1 1 8 8 
Liabilities(8)(7)(1)(2)(2)
Total$32,753 $7,054 $25,431 $268 $46,193 $10,851 $35,144 $198 
Fixed income common/collective/pooled funds$1,511 $1,712 
Fixed income other832 747 
Equity common/collective/ pooled funds2,757 4,561 
Private equity4,239 5,100 
Real estate and real assets3,525 3,952 
Hedge funds3,391 4,717 
Total investments measured at NAV as a practical expedient$16,255 $20,789 
Cash$409 $520 
Receivables541 454 
Payables(133)(143)   
Total$49,825 $67,813 
Schedule of Effect of Significant Unobservable Inputs, Changes in Plan Assets
The following tables summarizes the changes of Level 3 assets, reconciled by asset class, held during the years ended December 31, 2022 and 2021. Transfers into and out of Level 3 are reported at the beginning-of-year values.
January 1
2022 Balance		Net Realized and Unrealized Gains/(Losses)Net Purchases, Issuances and SettlementsNet Transfers Into/(Out of) Level 3December 31
2022 Balance
Fixed income securities:
Corporate
$53 ($19)$3 $33 $70 
Mortgage backed and
   asset backed
102 (11)16 55 162 
Municipal29 (14)9 8 32 
Sovereign9 (9) 
Equity securities:
Non-U.S. common and
   preferred stock		5 (45)(2)42 
Real assets (1)5 4 
Total$198 ($90)$31 $129 $268 
January 1
2021 Balance		Net Realized and Unrealized Gains/(Losses)Net Purchases, Issuances and SettlementsNet Transfers Into/(Out of) Level 3December 31
2021 Balance
Fixed income securities:
  Corporate
$40 ($1)$5 $9 $53 
U.S. government and agencies
2 (2)
Mortgage backed and asset backed
120 (17)(1)102 
Municipal72 7 (50)29 
Sovereign2 (8)15 9 
Equity securities:
Non-U.S. common and preferred stock
2 2 (3)4 5 
Real assets2 (2)
Total$240 ($7)$5 ($40)$198 
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)202320242025202620272028-2032
Pensions$5,348 $4,473 $4,404 $4,325 $4,221 $19,560 
Other postretirement benefits:
Gross benefits paid381 371 353 334 310 1,176 
Subsidies
(11)(11)(11)(12)(12)(63)
Net other postretirement benefits$370 $360 $342 $322 $298 $1,113