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Boeing Co (BA) SEC Filing 10-K Annual report for the fiscal year ending Thursday, December 31, 2020

Boeing Co

CIK: 12927 Ticker: BA
Exhibit 99.1


Boeing Reports Fourth-Quarter Results
Fourth Quarter 2020
Financial results significantly impacted by COVID-19, 737 MAX grounding, and commercial widebody programs
777X program recorded $6.5 billion pre-tax charge; first delivery expected in late 2023
737 MAX began receiving regulatory approval to resume operations and restarted deliveries
Revenue of $15.3 billion, GAAP loss per share of ($14.65) and core (non-GAAP)* loss per share of ($15.25)
Full-Year 2020
Revenue of $58.2 billion, GAAP loss per share of ($20.88) and core (non-GAAP)* loss per share of ($23.25)
Operating cash flow of ($18.4) billion; cash and marketable securities of $25.6 billion
Total backlog of $363 billion, including more than 4,000 commercial airplanes
Strengthening safety processes, improving performance, managing liquidity and transforming for the future
Table 1. Summary Financial Results
Fourth Quarter Full Year
(Dollars in Millions, except per share data) 2020 2019 Change 2020 2019 Change
Revenues $15,304  $17,911  (15)% $58,158  $76,559  (24)%
GAAP
Loss From Operations ($8,049) ($2,204) NM ($12,767) ($1,975) NM
Operating Margin (52.6) % (12.3) % NM (22.0) % (2.6) % NM
Net Loss ($8,439) ($1,010) NM ($11,941) ($636) NM
Loss Per Share ($14.65) ($1.79) NM ($20.88) ($1.12) NM
Operating Cash Flow ($4,009) ($2,220) NM ($18,410) ($2,446) NM
Non-GAAP*
Core Operating Loss ($8,377) ($2,526) NM ($14,150) ($3,390) NM
Core Operating Margin (54.7) % (14.1) % NM (24.3) % (4.4) % NM
Core Loss Per Share ($15.25) ($2.33) NM ($23.25) ($3.47) NM
*Non-GAAP measure; complete definitions of Boeing’s non-GAAP measures are on page 6, “Non-GAAP Measures Disclosures."    
    CHICAGO, January 27, 2021
– The Boeing Company [NYSE: BA] reported fourth-quarter revenue of $15.3 billion, reflecting lower commercial deliveries and services volume primarily due to COVID-19 as well as 787 production issues, partially offset by a lower 737 MAX customer considerations charge in the quarter compared to the same period last year (Table 1). GAAP loss per share of ($14.65) and core loss per share (non-GAAP)* of ($15.25) reflected a $6.5 billion pre-tax charge on the 777X program and a tax valuation allowance, partially offset by a lower 737 MAX customer considerations charge. Boeing recorded operating cash flow of ($4.0) billion.
    “2020 was a year of profound societal and global disruption which significantly constrained our industry. The deep impact of the pandemic on commercial air travel, coupled with the 737 MAX grounding, challenged our results. I am proud of the resilience and dedication our global team demonstrated in this environment as we strengthened our safety processes, adapted to our market and supported our customers, suppliers, communities and each other,” said Boeing President and Chief Executive Officer Dave Calhoun. “Our balanced portfolio of diverse defense, space and services programs continues to provide important stability as we lay the foundation for our recovery.
1

The following information was filed by Boeing Co (BA) on Wednesday, January 27, 2021 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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Inside Boeing Co's 10-K Annual Report:

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 Equity
Consolidated Statements Of Financial Position
Consolidated Statements Of Operations
Accounting Policies (Tables)
Accounts Receivable
Accounts Receivable (Schedule Of Accounts Receivable) (Details)
Accounts Receivable (Tables)
Allowance For Losses On Financial Assets
Allowance For Losses On Financial Assets (Narrative) (Details)
Allowance For Losses On Financial Assets (Tables)
Allowance For Losses On Financial Assets Allowance For Losses On Financial Assets (Allowance Disclosure) (Details)
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)
Commitment And Contingencies (Details)
Contracts With Customers Contracts With Customers
Contracts With Customers Contracts With Customers (Narrative) (Details)
Contracts With Customers Contracts With Customers (Schedule Of Unbilled Receivables And Claims) (Details)
Contracts With Customers Contracts With Customers (Tables)
Customer Financing
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 (Policies)
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)
Derivative Financial Instruments Derivative Financial Instruments (Schedule Of Gains/(Losses) Reclassified From Aoci To Earnings) (Details)
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)
Leases
Leases, Codification Topic 842 (Narrative) (Details)
Leases, Codification Topic 842 (Tables)
Legal Proceedings
Legal Proceedings Legal Proceedings (Narrative) (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)
Liabilities, Commitments, And Contingencies (Schedule Of 737 Max Liability) (Details) (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 Future Benefit Payments) (Details)
Postretirement Plans (Schedule Of Key Information For All Plans With Abo In Excess Of Plan Assets) (Details)
Postretirement Plans (Tables)
Property, Plant And Equipment
Property, Plant And Equipment (Narrative) (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)
Schedule Of Maturities Of Operating Liabilities (Details)
Schedule Of Supplemental Balance Sheet Information Related To Operating Leases (Details)
Segment And Revenue Information
Segment And Revenue Information (Narrative) (Details)
Segment And Revenue Information (Reconciliation Of Assets From Segment To Consolidated) (Details)
Segment And Revenue Information (Schedule Of Capital Expenditures By Segment) (Details)
Segment And Revenue Information (Schedule Of Depreciation And Amortization Expense By Segment) (Details)
Segment And Revenue Information (Schedule Of Revenue From External Customers Attributed To Foreign Countries By Geographic Area) (Details)
Segment And Revenue Information (Schedule Of Unallocated Items And Eliminations) (Details)
Segment And Revenue Information (Tables)
Segment And Revenue Information Segment And Revenue Information (Schedule Of Revenue Disaggregation) (Details)
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 Restricted Stock Unit Award Activity) (Details)3
Share-Based Compensation And Other Compensation Arrangements (Schedule Of Share-Based Plans Expense And Related Income Tax Benefit) (Details)1
Share-Based Compensation And Other Compensation Arrangements (Schedule Of Stock Option Activity) (Details)2
Share-Based Compensation And Other Compensation Arrangements (Schedule Of Stock Unit Activity) (Details)5
Share-Based Compensation And Other Compensation Arrangements (Tables)
Share-Based Compensation And Other Compensation Arrangements Schedule Of Pbrsus Grant Fair Values (Details)4
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)
Summary Of Business Segment Data
Summary Of Business Segment Data (Details)
Summary Of Business Segment Data (Tables)
Summary Of Significant Accounting Policies
Summary Of Significant Accounting Policies (Narrative) (Details)
Summary Of Significant Accounting Policies (Policy)
Ticker: BA
CIK: 12927
Form Type: 10-K Annual Report
Accession Number: 0000012927-21-000011
Submitted to the SEC: Mon Feb 01 2021 2:20:17 PM EST
Accepted by the SEC: Mon Feb 01 2021
Period: Thursday, December 31, 2020
Industry: Aircraft

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