2012 Q2 Form 10-Q Financial Statement

#000001292712000012 Filed on July 25, 2012

View on sec.gov

Income Statement

Concept 2012 Q2 2011 Q2
Revenue $20.01B $16.54B
YoY Change 20.93% 6.23%
Cost Of Revenue $16.75B $13.20B
YoY Change 26.86% 5.26%
Gross Profit $3.259B $3.343B
YoY Change -2.51% 10.22%
Gross Profit Margin 16.29% 20.21%
Selling, General & Admin $903.0M $870.0M
YoY Change 3.79% 11.83%
% of Gross Profit 27.71% 26.02%
Research & Development $857.0M $1.047B
YoY Change -18.15% 4.6%
% of Gross Profit 26.3% 31.32%
Depreciation & Amortization $422.0M $429.0M
YoY Change -1.63% -4.45%
% of Gross Profit 12.95% 12.83%
Operating Expenses $857.0M $1.047B
YoY Change -18.15% -41.15%
Operating Profit $1.542B $1.534B
YoY Change 0.52% 22.33%
Interest Expense -$61.00M -$35.00M
YoY Change 74.29% -55.13%
% of Operating Profit -3.96% -2.28%
Other Income/Expense, Net $10.00M $14.00M
YoY Change -28.57% -60.0%
Pretax Income $1.446B $1.425B
YoY Change 1.47% 17.77%
Income Tax $479.0M $483.0M
% Of Pretax Income 33.13% 33.89%
Net Earnings $967.0M $941.0M
YoY Change 2.76% 19.57%
Net Earnings / Revenue 4.83% 5.69%
Basic Earnings Per Share $1.28 $1.27
Diluted Earnings Per Share $1.27 $1.25
COMMON SHARES
Basic Shares Outstanding 753.5M shares 745.5M shares
Diluted Shares Outstanding 759.6M shares 752.6M shares

Balance Sheet

Concept 2012 Q2 2011 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $10.31B $8.802B
YoY Change 17.1% -12.21%
Cash & Equivalents $6.305B $5.050B
Short-Term Investments $4.002B $3.752B
Other Short-Term Assets $30.00M $35.00M
YoY Change -14.29% -96.67%
Inventory $35.03B $29.09B
Prepaid Expenses
Receivables $5.894B $6.162B
Other Receivables $344.0M $260.0M
Total Short-Term Assets $51.61B $44.35B
YoY Change 16.36% 15.72%
LONG-TERM ASSETS
Property, Plant & Equipment $9.453B $9.044B
YoY Change 4.52% 5.36%
Goodwill $4.955B
YoY Change
Intangibles $2.980B
YoY Change
Long-Term Investments $963.0M $1.117B
YoY Change -13.79% 10.81%
Other Assets $1.746B $5.298B
YoY Change -67.04% 45.99%
Total Long-Term Assets $29.99B $27.77B
YoY Change 8.0% 9.19%
TOTAL ASSETS
Total Short-Term Assets $51.61B $44.35B
Total Long-Term Assets $29.99B $27.77B
Total Assets $81.60B $72.12B
YoY Change 13.14% 13.12%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $9.273B $8.262B
YoY Change 12.24% 18.71%
Accrued Expenses $11.70B $13.57B
YoY Change -13.79% 5.2%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $2.466B $1.304B
YoY Change 89.11% -13.47%
Total Short-Term Liabilities $42.45B $37.37B
YoY Change 13.59% 9.63%
LONG-TERM LIABILITIES
Long-Term Debt $8.735B $10.32B
YoY Change -15.39% -9.75%
Other Long-Term Liabilities $650.0M $19.60B
YoY Change -96.68% 30.2%
Total Long-Term Liabilities $650.0M $29.93B
YoY Change -97.83% 12.95%
TOTAL LIABILITIES
Total Short-Term Liabilities $42.45B $37.37B
Total Long-Term Liabilities $650.0M $29.93B
Total Liabilities $75.70B $67.39B
YoY Change 12.34% 11.06%
SHAREHOLDERS EQUITY
Retained Earnings $28.74B
YoY Change
Common Stock $5.061B
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost) $16.20B
YoY Change
Treasury Stock Shares 260.9M shares
Shareholders Equity $5.804B $4.733B
YoY Change
Total Liabilities & Shareholders Equity $81.60B $72.12B
YoY Change 13.14% 13.12%

Cashflow Statement

Concept 2012 Q2 2011 Q2
OPERATING ACTIVITIES
Net Income $967.0M $941.0M
YoY Change 2.76% 19.57%
Depreciation, Depletion And Amortization $422.0M $429.0M
YoY Change -1.63% -4.45%
Cash From Operating Activities $908.0M $1.596B
YoY Change -43.11% 500.0%
INVESTING ACTIVITIES
Capital Expenditures -$356.0M -$345.0M
YoY Change 3.19% 34.24%
Acquisitions
YoY Change
Other Investing Activities -$229.0M -$1.604B
YoY Change -85.72% -495.07%
Cash From Investing Activities -$585.0M -$1.949B
YoY Change -69.98% -1408.05%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -710.0M -279.0M
YoY Change 154.48% -35.27%
NET CHANGE
Cash From Operating Activities 908.0M 1.596B
Cash From Investing Activities -585.0M -1.949B
Cash From Financing Activities -710.0M -279.0M
Net Change In Cash -387.0M -632.0M
YoY Change -38.77% 3850.0%
FREE CASH FLOW
Cash From Operating Activities $908.0M $1.596B
Capital Expenditures -$356.0M -$345.0M
Free Cash Flow $1.264B $1.941B
YoY Change -34.88% 271.13%

Facts In Submission

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us-gaap Net Income Loss
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us-gaap Operating Income Loss
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us-gaap Payments To Acquire Intangible Assets
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us-gaap Payments To Acquire Intangible Assets
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us-gaap Payments To Acquire Investments
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us-gaap Payments To Acquire Investments
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us-gaap Payments To Acquire Property Plant And Equipment
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us-gaap Payments To Acquire Property Plant And Equipment
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us-gaap Proceeds From Contribution In Aid Of Construction
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us-gaap Proceeds From Sale Maturity And Collections Of Investments
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us-gaap Proceeds From Sale Of Property Plant And Equipment
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us-gaap Proceeds From Sale Of Property Plant And Equipment
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us-gaap Proceeds From Stock Options Exercised
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us-gaap Product Warranty Accrual Payments
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us-gaap Product Warranty Accrual Preexisting Increase Decrease
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us-gaap Sales Revenue Goods Net
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us-gaap Sales Revenue Goods Net
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us-gaap Profit Loss
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us-gaap Research And Development Expense
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us-gaap Research And Development Expense
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us-gaap Revenues
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us-gaap Revenues
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CY2012Q2 dei Amendment Flag
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us-gaap Sales Revenue Services Net
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us-gaap Share Based Compensation
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CY2012Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Term
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CY2012Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
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us-gaap Use Of Estimates
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<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-top:12px;text-align:justify;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;font-weight:bold;">Use of Estimates</font></div><div style="line-height:120%;padding-top:6px;text-align:justify;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;">Management makes assumptions and estimates to prepare financial statements in conformity with accounting principles generally accepted in the United States of America. Those assumptions and estimates directly affect the amounts reported in the condensed consolidated financial statements. Significant estimates for which changes in the near term are considered reasonably possible and that may have a material impact on the financial statements are disclosed in these Notes to the Condensed Consolidated Financial Statements.</font></div><div style="line-height:120%;padding-top:12px;text-align:justify;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;">Contract accounting is used for development and production activities predominantly by Defense, Space &amp; Security (BDS). Contract accounting involves a judgmental process of estimating total sales and costs for each contract resulting in the development of estimated cost of sales percentages. Changes in estimated revenues, cost of sales and the related effect on operating income are recognized using a cumulative catch-up adjustment which recognizes in the current period the cumulative effect of the changes on current and prior periods based on a contract&#8217;s percent complete. For the </font><font style="font-family:Arial;font-size:10pt;color:#000000;text-decoration:none;">six and three months ended June 30, 2012</font><font style="font-family:Arial;font-size:10pt;">, net favorable cumulative catch-up adjustments, including reach-forward losses, across all BDS contracts increased operating earnings by </font><font style="font-family:Arial;font-size:10pt;color:#000000;text-decoration:none;">$234</font><font style="font-family:Arial;font-size:10pt;"> and </font><font style="font-family:Arial;font-size:10pt;color:#000000;text-decoration:none;">$122</font><font style="font-family:Arial;font-size:10pt;"> and earnings per share by </font><font style="font-family:Arial;font-size:10pt;color:#000000;text-decoration:none;">$0.20</font><font style="font-family:Arial;font-size:10pt;"> and </font><font style="font-family:Arial;font-size:10pt;color:#000000;text-decoration:none;">$0.11</font><font style="font-family:Arial;font-size:10pt;">.</font></div></div>
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us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
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us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
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us-gaap Weighted Average Number Of Diluted Shares Outstanding
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us-gaap Weighted Average Number Of Diluted Shares Outstanding
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CY2011Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
752600000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
754200000 shares
CY2012Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
755900000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
744200000 shares
CY2011Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
745500000 shares
CY2012Q2 ba Additional Capital Contributions Commitment
AdditionalCapitalContributionsCommitment
403000000 USD
CY2012Q2 ba Capitalized Precontract Costs
CapitalizedPrecontractCosts
236000000 USD
CY2011Q4 ba Capitalized Precontract Costs
CapitalizedPrecontractCosts
1728000000 USD
CY2011Q2 ba Change In Earnings Per Share Due To Change In Accounting Estimate
ChangeInEarningsPerShareDueToChangeInAccountingEstimate
0.09
ba Change In Earnings Per Share Due To Change In Accounting Estimate
ChangeInEarningsPerShareDueToChangeInAccountingEstimate
0.20
CY2012Q2 ba Change In Earnings Per Share Due To Change In Accounting Estimate
ChangeInEarningsPerShareDueToChangeInAccountingEstimate
0.11
ba Change In Earnings Per Share Due To Change In Accounting Estimate
ChangeInEarningsPerShareDueToChangeInAccountingEstimate
0.14
CY2012Q2 ba Change In Operating Earnings Due To Change In Accounting Estimate
ChangeInOperatingEarningsDueToChangeInAccountingEstimate
122000000 USD
ba Change In Operating Earnings Due To Change In Accounting Estimate
ChangeInOperatingEarningsDueToChangeInAccountingEstimate
153000000 USD
CY2011Q2 ba Change In Operating Earnings Due To Change In Accounting Estimate
ChangeInOperatingEarningsDueToChangeInAccountingEstimate
100000000 USD
ba Change In Operating Earnings Due To Change In Accounting Estimate
ChangeInOperatingEarningsDueToChangeInAccountingEstimate
234000000 USD
CY2012Q2 ba Contractual Aircraft Trade In Value
ContractualAircraftTradeInValue
92000000 USD
CY2011Q4 ba Contractual Aircraft Trade In Value
ContractualAircraftTradeInValue
27000000 USD
CY2011Q4 ba Contractual Aircraft Trade In Value Maximum
ContractualAircraftTradeInValueMaximum
273000000 USD
CY2012Q2 ba Contractual Aircraft Trade In Value Maximum
ContractualAircraftTradeInValueMaximum
769000000 USD
CY2012Q2 ba Contributed Inventory Consumed By Joint Venture
ContributedInventoryConsumedByJointVenture
1221000000 USD
CY2011Q2 ba Costs Unrecoverable Under Contracts
CostsUnrecoverableUnderContracts
271000000 USD
CY2011Q4 ba Customer Financing Balance
CustomerFinancingBalance
4772000000 USD
CY2012Q2 ba Customer Financing Balance
CustomerFinancingBalance
4412000000 USD
CY2011Q4 ba Customer Financing Current
CustomerFinancingCurrent
476000000 USD
CY2012Q2 ba Customer Financing Current
CustomerFinancingCurrent
344000000 USD
CY2011Q4 ba Customer Financing Noncurrent
CustomerFinancingNoncurrent
4296000000 USD
CY2012Q2 ba Customer Financing Noncurrent
CustomerFinancingNoncurrent
4068000000 USD
CY2012Q2 ba Discontinued Operation Gain Loss On Disposal Of Discontinued Operation Net Of Tax Per Basic Share
DiscontinuedOperationGainLossOnDisposalOfDiscontinuedOperationNetOfTaxPerBasicShare
CY2011Q2 ba Discontinued Operation Gain Loss On Disposal Of Discontinued Operation Net Of Tax Per Basic Share
DiscontinuedOperationGainLossOnDisposalOfDiscontinuedOperationNetOfTaxPerBasicShare
ba Discontinued Operation Gain Loss On Disposal Of Discontinued Operation Net Of Tax Per Basic Share
DiscontinuedOperationGainLossOnDisposalOfDiscontinuedOperationNetOfTaxPerBasicShare
ba Discontinued Operation Gain Loss On Disposal Of Discontinued Operation Net Of Tax Per Basic Share
DiscontinuedOperationGainLossOnDisposalOfDiscontinuedOperationNetOfTaxPerBasicShare
ba Discontinued Operation Gain Loss On Disposal Of Discontinued Operation Net Of Tax Per Diluted Share
DiscontinuedOperationGainLossOnDisposalOfDiscontinuedOperationNetOfTaxPerDilutedShare
CY2012Q2 ba Discontinued Operation Gain Loss On Disposal Of Discontinued Operation Net Of Tax Per Diluted Share
DiscontinuedOperationGainLossOnDisposalOfDiscontinuedOperationNetOfTaxPerDilutedShare
ba Discontinued Operation Gain Loss On Disposal Of Discontinued Operation Net Of Tax Per Diluted Share
DiscontinuedOperationGainLossOnDisposalOfDiscontinuedOperationNetOfTaxPerDilutedShare
CY2011Q2 ba Discontinued Operation Gain Loss On Disposal Of Discontinued Operation Net Of Tax Per Diluted Share
DiscontinuedOperationGainLossOnDisposalOfDiscontinuedOperationNetOfTaxPerDilutedShare
CY2012Q2 ba Early Issue Sales Consideration
EarlyIssueSalesConsideration
2776000000 USD
CY2011Q4 ba Early Issue Sales Consideration
EarlyIssueSalesConsideration
2564000000 USD
CY2012Q2 ba Expiration Date Of Trade In Commitment Agreements Maximum
ExpirationDateOfTradeInCommitmentAgreementsMaximum
2023
CY2012Q2 ba Expiration Date Of Trade In Commitment Agreements Minimum
ExpirationDateOfTradeInCommitmentAgreementsMinimum
2012
CY2012Q2 ba Expiration Of Inventory Supply Agreement
ExpirationOfInventorySupplyAgreement
March 31, 2021
CY2012Q2 ba Financing Commitments
FinancingCommitments
20267000000 USD
CY2011Q4 ba Financing Commitments
FinancingCommitments
15866000000 USD
CY2012Q2 ba Financing Commitments For Current Year
FinancingCommitmentsForCurrentYear
911000000 USD
CY2012Q2 ba Financing Commitments For Year Five
FinancingCommitmentsForYearFive
3408000000 USD
CY2012Q2 ba Financing Commitments For Year Four
FinancingCommitmentsForYearFour
3813000000 USD
CY2012Q2 ba Financing Commitments For Year Three
FinancingCommitmentsForYearThree
2490000000 USD
CY2012Q2 ba Financing Commitments For Year Two
FinancingCommitmentsForYearTwo
1299000000 USD
CY2012Q2 ba Financing Commitments Thereafter
FinancingCommitmentsThereafter
8346000000 USD
CY2011Q4 ba Gross Customer Financing
GrossCustomerFinancing
4842000000 USD
CY2012Q2 ba Gross Customer Financing
GrossCustomerFinancing
4481000000 USD
ba Increasedecrease In Customer Financing
IncreasedecreaseInCustomerFinancing
210000000 USD
ba Increasedecrease In Customer Financing
IncreasedecreaseInCustomerFinancing
216000000 USD
CY2012Q2 ba Inventories Included In Contributed Assets
InventoriesIncludedInContributedAssets
1360000000 USD
CY2012Q2 ba Inventories Subject To Inventory Supply Agreement
InventoriesSubjectToInventorySupplyAgreement
1860000000 USD
CY2011Q4 ba Inventory Commercial Aircraft Programs
InventoryCommercialAircraftPrograms
35080000000 USD
CY2012Q2 ba Inventory Commercial Aircraft Programs
InventoryCommercialAircraftPrograms
38592000000 USD
CY2011Q4 ba Inventory Net Of Customer Advances And Progress Billings
InventoryNetOfCustomerAdvancesAndProgressBillings
32240000000 USD
CY2012Q2 ba Inventory Net Of Customer Advances And Progress Billings
InventoryNetOfCustomerAdvancesAndProgressBillings
35033000000 USD
CY2012Q2 ba Inventory Supply Agreement Payments Received
InventorySupplyAgreementPaymentsReceived
840000000 USD
CY2012Q2 ba Inventory Supply Agreement Revenue Recorded
InventorySupplyAgreementRevenueRecorded
717000000 USD
ba Number Of Satellites
NumberOfSatellites
two
ba Participating Securities
ParticipatingSecurities
2500000 shares
CY2012Q2 ba Participating Securities
ParticipatingSecurities
2400000 shares
ba Participating Securities
ParticipatingSecurities
2400000 shares
CY2011Q2 ba Participating Securities
ParticipatingSecurities
2500000 shares
CY2012Q2 ba Potential Earnings Impact Of Inability To Sell Additional Delta Inventory
PotentialEarningsImpactOfInabilityToSellAdditionalDeltaInventory
50000000 USD
CY2011Q4 ba Potential Unrecoverable Costs Under Contracts
PotentialUnrecoverableCostsUnderContracts
114000000 USD
CY2012Q1 ba Share Based Compensation Arrangement By Share Based Payment Award Options Expiration Term
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExpirationTerm
P10Y
CY2012Q1 ba Share Based Compensation Arrangement By Share Based Payment Award Options Vesting Percentage Year One
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestingPercentageYearOne
0.34
CY2012Q1 ba Share Based Compensation Arrangement By Share Based Payment Award Options Vesting Percentage Year Three
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestingPercentageYearThree
0.33
CY2012Q1 ba Share Based Compensation Arrangement By Share Based Payment Award Options Vesting Percentage Year Two
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestingPercentageYearTwo
0.33
ba Treasury Shares Issued For Other Share Based Plans
TreasurySharesIssuedForOtherShareBasedPlans
-10000000 USD
ba Treasury Shares Issued For Other Share Based Plans
TreasurySharesIssuedForOtherShareBasedPlans
-62000000 USD
ba Weighted Average Number Of Shares Outstanding
WeightedAverageNumberOfSharesOutstanding
751800000 shares
CY2012Q2 ba Weighted Average Number Of Shares Outstanding
WeightedAverageNumberOfSharesOutstanding
753500000 shares
CY2011Q2 ba Weighted Average Number Of Shares Outstanding
WeightedAverageNumberOfSharesOutstanding
743000000 shares
ba Weighted Average Number Of Shares Outstanding
WeightedAverageNumberOfSharesOutstanding
741700000 shares
CY2012Q2 dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q2
CY2012Q2 dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2012
CY2012Q2 dei Document Period End Date
DocumentPeriodEndDate
2012-06-30
CY2012Q2 dei Document Type
DocumentType
10-Q
CY2012Q2 dei Entity Central Index Key
EntityCentralIndexKey
0000012927
CY2012Q3 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
751797604 shares
CY2012Q2 dei Entity Filer Category
EntityFilerCategory
Large Accelerated Filer
CY2012Q2 dei Entity Registrant Name
EntityRegistrantName
BOEING CO

Files In Submission

Name View Source Status
0000012927-12-000012-index-headers.html Edgar Link pending
0000012927-12-000012-index.html Edgar Link pending
0000012927-12-000012.txt Edgar Link pending
0000012927-12-000012-xbrl.zip Edgar Link pending
a06302012-exhibit12.htm Edgar Link pending
a06302012-exhibit15.htm Edgar Link pending
a06302012-exhibit311.htm Edgar Link pending
a06302012-exhibit312.htm Edgar Link pending
a06302012-exhibit321.htm Edgar Link pending
a06302012-exhibit322.htm Edgar Link pending
a0630201210-q.htm Edgar Link pending
ba-20120630.xml Edgar Link completed
ba-20120630.xsd Edgar Link pending
ba-20120630_cal.xml Edgar Link unprocessable
ba-20120630_def.xml Edgar Link unprocessable
ba-20120630_lab.xml Edgar Link unprocessable
ba-20120630_pre.xml Edgar Link unprocessable
boeing.jpg Edgar Link pending
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