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Postretirement Plans (Tables)
 12 Months Ended
Dec. 31, 2023
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 31,202320222021202320222021
Service cost$2 $3 $3 $49 $72 $87 
Interest cost2,820 2,080 1,988 148 98 97 
Expected return on plan assets(3,441)(3,789)(3,848)(9)(10)(7)
Amortization of prior service credits(81)(81)(80)(22)(35)(35)
Recognized net actuarial loss/(gain)173 913 1,219 (175)(111)(56)
Settlement/curtailment (gain)/loss(4)193 
Net periodic benefit (income)/cost($527)($878)($525)($9)$14 $86 
Net periodic benefit cost included in Loss from operations$2 $3 $3 $62 $79 $90 
Net periodic benefit income included in Other income, net(529)(881)(528)(58)(58)(1)
Net periodic benefit (income)/cost included in Loss before income taxes
($527)($878)($525)$4 $21 $89 
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, 2023 and 2022. 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
2023202220232022
Change in benefit obligation
Beginning balance$55,117 $75,635 $2,978 $4,092 
Service cost2 3 49 72 
Interest cost2,820 2,080 148 98 
Amendments 1  
Actuarial loss/(gain)1,217 (17,605)(152)(914)
Gross benefits paid(4,837)(4,971)(375)(406)
Subsidies 2 39 
Exchange rate adjustment6 (26)1 (3)
Ending balance$54,325 $55,117 $2,651 $2,978 
Change in plan assets
Beginning balance at fair value$49,825 $67,813 $140 $172 
Actual return on plan assets3,756 (13,141)23 (27)
Company contribution 2 
Plan participants’ contributions 4 6 
Benefits paid(4,698)(4,824)(4)(11)
Exchange rate adjustment8 (25)
Ending balance at fair value$48,891 $49,825 $163 $140 
Amounts recognized in statement of financial position at December 31 consist of:
Other assets$1,219 $987 $81 $21 
Accrued liabilities(137)(138)(336)(356)
Accrued retiree health care(2,233)(2,503)
Accrued pension plan liability, net(6,516)(6,141)
Net amount recognized($5,434)($5,292)($2,488)($2,838)
Schedule of Amounts Recognized in Accumulated Other Comprehensive Loss
Amounts recognized in Accumulated other comprehensive loss (AOCI) at December 31 were as follows:
PensionOther Postretirement Benefits
2023202220232022
Net actuarial loss/(gain)$18,175 $17,448 ($1,852)($1,862)
Prior service credits(1,143)(1,224)(19)(41)
Total recognized in AOCI
$17,032 $16,224 ($1,871)($1,903)
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:
20232022
Accumulated benefit obligation$47,665 $48,134 
Fair value of plan assets41,666 42,491 
20232022
Projected benefit obligation$48,320 $48,770 
Fair value of plan assets41,666 42,491 
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 31,202320222021
Discount rate:
Pension5.10 %5.40 %2.80 %
Other postretirement benefits5.00 %5.30 %2.50 %
Expected return on plan assets6.00 %6.00 %6.30 %
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 31,202320222021
Health care cost trend rate assumed next year5.50 %5.50 %4.50 %
Ultimate trend rate4.50 %4.50 %4.50 %
Year that trend reaches ultimate rate202820282021
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 Class2023202220232022
Fixed income60 %63 %59 %63 %
Global equity19 14 20 20 
Private equity8 8 7 4 
Real estate and real assets7 8 7 7 
Hedge funds6 7 7 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, 2023 and 2022. 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, 2023December 31, 2022
TotalLevel 1Level 2Level 3TotalLevel 1Level 2Level 3
Fixed income securities:
Corporate$17,809 $17,750 $59 $15,095 $15,025 $70 
U.S. government and agencies
6,822 6,822 7,827 7,827 
Mortgage backed and asset backed
505 344 161 664 502 162 
Municipal816 816 843 811 32 
Sovereign720 720 706 706 
Other 9 $6 3 8 $8 
Derivatives:
Assets69 69 36 36 
Liabilities(87)(87)
Cash equivalents and other short-term investments
326 326 571 571 
Equity securities:
U.S. common and preferred stock
3,391 3,391 2,931 2,931 
Non-U.S. common and preferred stock
2,204 2,204 2,023 2,023 
Boeing company stock1,782 1,782 
Derivatives:
Assets
Liabilities(1)(1)
Private equity
Real estate and real assets:
Real estate
Real assets385 349 33 3 362 310 47 5 
Derivatives:
Assets1 1 
Liabilities(8)(7)(1)
Total$33,056 $5,950 $26,880 $226 $32,753 $7,054 $25,431 $268 
Fixed income common/collective/pooled funds$1,378 $1,511 
Fixed income other1,364 832 
Equity common/collective/ pooled funds2,702 2,757 
Private equity4,102 4,239 
Real estate and real assets3,138 3,525 
Hedge funds2,751 3,391 
Total investments measured at NAV as a practical expedient$15,435 $16,255 
Cash$86 $409 
Receivables438 541 
Payables(124)(133)   
Total$48,891 $49,825 
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, 2023 and 2022. Transfers into and out of Level 3 are reported at the beginning-of-year values.
January 1
2023 Balance		Net Realized and Unrealized Gains/(Losses)Net Purchases, Issuances and SettlementsNet Transfers Into/(Out of) Level 3December 31
2023 Balance
Fixed income securities:
Corporate
$70 $5 ($16)$59 
 U.S. government and
    agencies 		 (1)$1 
Mortgage backed and
   asset backed
162 7 10 (18)161 
Municipal32 (5)(27)
Other3 3 
Real assets4 (1)3 
Total$268 $14 ($12)($44)$226 
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 
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)202420252026202720282029-2033
Pensions$4,524 $4,425 $4,345 $4,241 $4,143 $19,106 
Other postretirement benefits:
Gross benefits paid358 341 319 295 269 1,004 
Subsidies
(12)(13)(13)(13)(13)(61)
Net other postretirement benefits$346 $328 $306 $282 $256 $943