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Boeing Co (BA) SEC Filing 10-K Annual report for the fiscal year ending Tuesday, December 31, 2013

Boeing Co

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CIK: 12927 Ticker: BA


 
 
 
Exhibit 99.1
 
 
 
 
  
News Release
 
 
 
 
  
Boeing Corporate Offices
100 North Riverside Plaza
Chicago, IL 60606-1596
www.boeing.com
Boeing Reports Record 2013 Revenue, EPS and Backlog and Provides 2014 Guidance
Fourth-Quarter 2013
▪
Core EPS (non-GAAP)* rose 29 percent to $1.88 on strong operating performance; GAAP EPS of $1.61
▪
Revenue increased 7 percent to $23.8 billion reflecting higher deliveries
Full Year 2013
▪
Core EPS increased 20 percent to a record $7.07 on record revenue of $86.6 billion; GAAP EPS of $5.96
▪
Operating cash flow before pension contributions* grew to $9.7 billion; GAAP operating cash flow of $8.2 billion
▪
Backlog grew to a record $441 billion, including $135 billion of net orders during the year
Outlook for 2014
▪
2014 Core EPS guidance of between $7.00 and $7.20; GAAP EPS guidance of between $6.10 and $6.30
▪
Revenue guidance of between $87.5 and $90.5 billion with commercial deliveries of between 715 and 725
Table 1. Summary Financial Results
 
Fourth Quarter
 
 
 
Full Year
 
 
(Dollars in Millions, except per share data)
 
2013
 
2012
 
Change
 
2013
 
2012
 
Change
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenues
 

$23,785

 

$22,302

 
7%

 

$86,623

 

$81,698

 
6%

 
 
 
 
 
 
 
 
 
 
 
 
 
Non-GAAP*
 
 
 
 
 
 
 
 
 
 
 
 
Core Operating Earnings
 

$1,838

 

$1,836

 
0%

 

$7,876

 

$7,189

 
10%

Core Operating Margin
 
7.7
%
 
8.2
%
 
(0.5) Pts

 
9.1
%
 
8.8
%
 
0.3 Pts

Core Earnings Per Share
 

$1.88

 

$1.46

 
29%

 

$7.07

 

$5.88

 
20%

Operating Cash Flow Before Pension Contributions
 

$1,409

 

$4,204

 
(66)%

 

$9,721

 

$9,058

 
7%

GAAP
 
 
 
 
 
 
 
 
 
 
 
 
Earnings From Operations
 

$1,515

 

$1,624

 
(7)%

 

$6,562

 

$6,290

 
4%

Operating Margin
 
6.4
%
 
7.3
%
 
(0.9) Pts

 
7.6
%
 
7.7
%
 
(0.1) Pts

Net Earnings
 

$1,233

 

$978

 
26%

 

$4,585

 

$3,900

 
18%

Earnings Per Share
 

$1.61

 

$1.28

 
26%

 

$5.96

 

$5.11

 
17%

Operating Cash Flow
 

$1,380

 

$4,167

 
(67)%

 

$8,179

 

$7,508

 
9%

* Non-GAAP measures (core operating earnings, core operating margin and core earnings per share) exclude certain components of pension and post retirement benefit expense that management believes are not reflective of underlying business performance. Complete definitions of Boeing’s non-GAAP measures are on page 7, “Non-GAAP Measures Disclosures.”
CHICAGO, January 29, 2014 – The Boeing Company [NYSE: BA] reported fourth-quarter revenue of $23.8 billion and core earnings per share (non-GAAP) that increased 29 percent* to $1.88, driven by strong performance across the company's businesses and higher deliveries (Table 1). Fourth-quarter core operating

1
The following information was filed by Boeing Co (BA) on Wednesday, January 29, 2014 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 Statements Of Cash Flows
Consolidated Statements Of Comprehensive Income
Consolidated Statements Of Comprehensive Income (parenthetical)
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)
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)
Debt Debt (schedule Of Long-term Debt Instruments) (details)
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 Finite-lived Intangible Assets, Future Amortization Expense) (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 (accumulated Other Comprehensive Income) (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
Subsequent Events Subsequent Events (details)
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)
Ticker: BA
CIK: 12927
Form Type: 10-K Annual Report
Accession Number: 0000012927-14-000004
Submitted to the SEC: Fri Feb 14 2014 12:00:10 PM EST
Accepted by the SEC: Fri Feb 14 2014
Period: Tuesday, December 31, 2013
Industry: Aircraft

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