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Boeing Co (BA) SEC Filing 10-K Annual report for the fiscal year ending Monday, December 31, 2012

Boeing Co

CIK: 12927 Ticker: BA

Exhibit 99.1

News Release

 

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Boeing Corporate Offices

100 North Riverside Plaza

Chicago, IL 60606-1596

www.boeing.com

Boeing Reports Record Revenue and Backlog and Provides 2013 Guidance

Fourth-Quarter 2012

 

   

Core EPS (non-GAAP)* of $1.46 on strong operating performance; GAAP EPS of $1.28

 

   

Revenue rose to $22.3 billion on increased commercial airplane deliveries

Full Year 2012

 

   

Core EPS (non-GAAP)* of $5.88 on record revenue of $81.7 billion; GAAP EPS of $5.11

 

   

Operating cash flow rose to $7.5 billion, including $1.6 billion of pension contributions

 

   

Backlog grew to a record $390 billion including $114 billion of orders during the year

Outlook for 2013

 

   

Core EPS (non-GAAP)* guidance of $6.10 to $6.30; GAAP EPS guidance of $5.00 to $5.20

 

   

Operating cash flow guidance of greater than $6.5 billion includes $1.5 billion of pension contributions

Table 1. Summary Financial Results

 

     Fourth Quarter           Full Year        

(Dollars in Millions, except per share data)

   2012     2011     Change     2012     2011     Change  

Revenues

   $ 22,302      $ 19,555        14   $ 81,698      $ 68,735        19

Non-GAAP *

            

Core Operating Earnings

   $ 1,841      $ 1,690        9   $ 7,210      $ 6,361        13

Core Operating Margin

     8.3     8.6     (0.3 )Pts      8.8     9.3     (0.5 )Pts 

Core Earnings Per Share

   $ 1.46      $ 1.92        (24 %)    $ 5.88      $ 5.79        2

Operating Cash Flow Before Pension Contributions

   $ 4,204      $ 2,962        42   $ 9,058      $ 4,554        99

GAAP

            

Earnings From Operations

   $ 1,629      $ 1,597        2   $ 6,311      $ 5,844        8

Operating Margin

     7.3     8.2     (0.9 )Pts      7.7     8.5     (0.8 )Pts 

Net Income

   $ 978      $ 1,393        (30 %)    $ 3,900      $ 4,018        (3 %) 

Earnings per Share

   $ 1.28      $ 1.84        (30 %)    $ 5.11      $ 5.34        (4 %) 

Operating Cash Flow

   $ 4,167      $ 2,931        42   $ 7,508      $ 4,023        87

 

* Non-GAAP measures. New non-GAAP earnings measures (core operating earnings, core operating margin and core earnings per share) exclude certain components of pension and post retirement benefit expense that the company believes are not reflective of underlying business performance. Complete definitions of Boeing’s use of non-GAAP measures begin on page 7, “Non-GAAP Measure Disclosures.”

CHICAGO, January 30, 2013

–The Boeing Company [NYSE: BA] reported record fourth-quarter revenue of $22.3 billion (Table 1) and core operating earnings (non-GAAP) that increased by 9 percent to $1.8 billion, driven by strong performance across the company’s businesses and higher deliveries of commercial airplanes. Fourth-quarter 2012 core earnings per share (non-GAAP) of $1.46 increased 4 percent* from the same period last year when excluding a $0.52 per share impact related to a favorable tax settlement recognized in the fourth-quarter 2011. The company reported fourth-quarter earnings from operations of $1.6 billion and earnings per share of $1.28.

 

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The following information was filed by Boeing Co (BA) on Wednesday, January 30, 2013 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Financial Statements, Disclosures and Schedules

Inside this 10-K Annual Report

Document And Entity Information
Consolidated Statement Of Comprehensive Income
Consolidated Statement Of Comprehensive Income (parenthetical)
Consolidated Statements Of Cash Flows
Consolidated Statements Of Equity
Consolidated Statements Of Equity (parenthetical)
Consolidated Statements Of Financial Position
Consolidated Statements Of Financial Position (parenthetical)
Consolidated Statements Of Operations
Consolidated Statements Of Operations (parenthetical)
Accounts Receivable
Accounts Receivable (narrative) (details)
Accounts Receivable (schedule Of Accounts Receivable Under Long-term Contracts) (details)
Accounts Receivable (schedule Of Accounts Receivable) (details)
Accounts Receivable (tables)
Acquisitions
Acquisitions (schedule Of Final Allocation Of Purchase Price) (details)
Acquisitions (tables)
Arrangements With Off-balance Sheet Risk
Arrangements With Off-balance Sheet Risk (narrative) (details)
Arrangements With Off-balance Sheet Risk (schedule Of Arrangements With Off-balance Sheet Risk) (details)
Arrangements With Off-balance Sheet Risk (tables)
Customer Financing
Customer Financing (allowance For Losses On Financing Receivables) (details)
Customer Financing (components Of Investment In Sales-type Or Finance Leases) (details)
Customer Financing (customer Financing Asset Impairment Charges) (details)
Customer Financing (financing Receivable Balances Evaluated For Impairment) (details)
Customer Financing (financing Receivable Credit Quality Indicators) (details)
Customer Financing (narrative) (details)
Customer Financing (schedule Of Customer Financing Carrying Values Related To Major Aircraft Concentrations) (details)
Customer Financing (schedule Of Customer Financing) (details)
Customer Financing (scheduled Receipts On Customer Financing) (details)
Customer Financing (tables)
Debt
Debt (narrative) (details)
Debt (schedule Of Debt) (details)
Debt (schedule Of Short-term Debt And Current Portion Of Long-term Debt) (details)
Debt (scheduled Principal Payments For Debt And Capital Lease Obligations) (details)
Debt (tables)
Derivative Financial Instruments
Derivative Financial Instruments (narrative) (details)
Derivative Financial Instruments (schedule Of Derivative Instruments, Gains/(losses) In Statement Of Financial Performance) (details)
Derivative Financial Instruments (schedule Of Notional Amounts And Fair Values Of Derivative Instruments) (details)
Derivative Financial Instruments (tables)
Earnings Per Share
Earnings Per Share (policy)
Earnings Per Share (schedule Of Weighted Average Number Of Shares Outstanding Excluded From The Computation Of Diluted Earnings Per Share) (details)
Earnings Per Share (schedule Of Weighted-average Number Of Shares Outstanding Used To Compute Earnings Per Share) (details)
Earnings Per Share (tables)
Fair Value Measurements
Fair Value Measurements (tables)
Fair Value Measurements Fair Value, Assets And Liabilities Measured On Recurring Basis (details)
Fair Value Measurements Fair Value, Assets Measured On Nonrecurring Basis Using Unobservable Inputs (details)
Fair Value Measurements Fair Value, Assets Measured On Nonrecurring Basis, Valuation Techniques (details)
Fair Value Measurements Fair Values And Related Carrying Values Of Financial Instruments (details)
Goodwill And Acquired Intangibles
Goodwill And Acquired Intangibles (narrative) (details)
Goodwill And Acquired Intangibles (schedule Of Finite-lived Intangible Assets) (details)
Goodwill And Acquired Intangibles (schedule Of Goodwill By Reportable Segment) (details)
Goodwill And Acquired Intangibles (tables)
Income Taxes
Income Taxes (components Of Earnings Before Income Taxes Between Domestic And Foreign Jurisdictions) (details)
Income Taxes (narrative) (details)
Income Taxes (net Deferred Tax Assets And Liabilities) (details)
Income Taxes (schedule Of Income Tax Expense/(benefit)) (details)
Income Taxes (schedule Of Reconciliation Of U.s. Federal Statutory Tax Rate To Our Effective Income Tax Rate) (details)
Income Taxes (schedule Of Unrecognized Tax Benefits Roll Forward) (details)
Income Taxes (significant Components Of Deferred Tax Assets Net Of Deferred Tax Liabilities) (details)
Income Taxes (tables)
Inventories
Inventories (inventory Disclosure Table) (details)
Inventories (narrative) (details)
Inventories (tables)
Investments
Investments (schedule Of Investments) (details)
Investments (schedule Of Ownership Percentages And Balances Of Equity Method Investments) (details)
Investments (tables)
Legal Proceedings
Legal Proceedings (details)
Liabilities, Commitments And Contingencies
Liabilities, Commitments And Contingencies (narrative) (details)
Liabilities, Commitments And Contingencies (schedule Of Accrued Liabilities) (details)
Liabilities, Commitments And Contingencies (schedule Of Environmental Remediation Activity) (details)
Liabilities, Commitments And Contingencies (schedule Of Estimated Potential Funding Dates For Financing Commitments) (details)
Liabilities, Commitments And Contingencies (schedule Of Product Warranty Activity) (details)
Liabilities, Commitments And Contingencies (tables)
Liabilities, Commitments And Contingencies Environmental Remediation (policies)
Other Assets
Other Assets (details)
Postretirement Plans
Postretirement Plans (components Of Net Periodic Benefit Cost) (details)
Postretirement Plans (narrative) (details)
Postretirement Plans (reconciliation Of Level 3 Assets Held) (details)
Postretirement Plans (schedule Of Actual Allocations For The Pension Assets And Target Allocations By Asset Class) (details)
Postretirement Plans (schedule Of Allocation Of Plan Assets) (details)
Postretirement Plans (schedule Of Amounts Recognized In Accumulated Other Comprehensive Loss) (details)
Postretirement Plans (schedule Of Assumed Health Care Cost Trend Rates) (details)
Postretirement Plans (schedule Of Assumptions Used To Calculate The Benefit Obligation) (details)
Postretirement Plans (schedule Of Changes In The Benefit Obligation, Plan Assets And Funded Status Of Both Pensions And Opb) (details)
Postretirement Plans (schedule Of Estimated Amount That Will Be Amortized From Accumulated Other Comprehensive Loss Into Net Periodic Benefit Cost) (details)
Postretirement Plans (schedule Of Estimated Future Benefit Payments) (details)
Postretirement Plans (schedule Of Key Information For All Plans With Abo In Excess Of Plan Assets) (details)
Postretirement Plans (schedule Of One-percentage-point Change In Assumed Health Care Cost Trend Rates) (details)
Postretirement Plans (tables)
Property, Plant And Equipment
Property, Plant And Equipment (narrative) (details)
Property, Plant And Equipment (payments Due Under Operating And Capital Leases Net Of Sublease Amounts And Non-cancellable Future Rentals) (details)
Property, Plant And Equipment (schedule Of Property, Plant And Equipment) (details)
Property, Plant And Equipment (tables)
Quarterly Financial Data
Quarterly Financial Data (narrative) (details)
Quarterly Financial Data (schedule Of Quarterly Financial Data) (details)
Quarterly Financial Data (tables)
Segment Information
Segment Information (narrative) (details)
Segment Information (reconciliation Of Assets From Segment To Consolidated) (details)
Segment Information (schedule Of Capital Expenditures By Segment) (details)
Segment Information (schedule Of Depreciation And Amortization Expense By Segment) (details)
Segment Information (schedule Of Intersegment Revenues, Eliminated In Unallocated Items And Eliminations) (details)
Segment Information (schedule Of Revenue From External Customers Attributed To Foreign Countries By Geographic Area) (details)
Segment Information (schedule Of Unallocated Items And Eliminations) (details)
Segment Information (tables)
Share-based Compensation And Other Compensation Arrangements
Share-based Compensation And Other Compensation Arrangements (narrative) (details)
Share-based Compensation And Other Compensation Arrangements (schedule Of Assumptions Used For Fair Value Of Stock Options Granted) (details)
Share-based Compensation And Other Compensation Arrangements (schedule Of Share-based Plans Expense And Related Income Tax Benefit) (details)
Share-based Compensation And Other Compensation Arrangements (schedule Of Stock Option Activity) (details)
Share-based Compensation And Other Compensation Arrangements (schedule Of Stock Unit Activity) (details)
Share-based Compensation And Other Compensation Arrangements (tables)
Shareholders' Equity
Shareholders' Equity (components Of Accumulated Other Comprehensive Loss) (details)
Shareholders' Equity (narrative) (details)
Shareholders' Equity (schedule Of Changes In Each Class Of Shares) (details)
Shareholders' Equity (tables)
Significant Group Concentrations Of Risk
Significant Group Concentrations Of Risk (details)
Subsequent Events
Summary Of Business Segment Data (details)
Summary Of Business Segment Data (notes)
Summary Of Business Segment Data (parenthetical) (details)
Summary Of Business Segment Data (tables)
Summary Of Significant Accounting Policies
Summary Of Significant Accounting Policies (details)
Summary Of Significant Accounting Policies (policy)
Valuation And Qualifying Accounts
Valuation And Qualifying Accounts (schedule Of Allowance For Customer Financing And Other Assets) (details)
Ticker: BA
CIK: 12927
Form Type: 10-K Annual Report
Accession Number: 0000012927-13-000014
Submitted to the SEC: Mon Feb 11 2013 12:50:46 PM EST
Accepted by the SEC: Mon Feb 11 2013
Period: Monday, December 31, 2012
Industry: Aircraft

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