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Cover and table of contents

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Cover and table of contents

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 10-Q

(Mark One)

☒QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended March 31, 2023

or

☐TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from to

Commission file number 1-442

THE BOEING COMPANY

(Exact name of registrant as specified in its charter)

Delaware91-0425694
(State or other jurisdiction of incorporation or organization)(I.R.S. Employer Identification No.)
929 Long Bridge DriveArlington,VA22202
(Address of principal executive offices)(Zip Code)
(703)414-6338

(Registrant’s telephone number, including area code)

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ☒ No ☐

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405/ of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes ☒ No ☐

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and "emerging growth company" in Rule 12b-2 of the Exchange Act. (Check one):

Large Accelerated Filer☒Accelerated filer☐
Non-accelerated filer☐Smaller reporting company☐
Emerging growth company☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).

Yes ☐ No ☒

Securities registered pursuant to Section 12(b) of the Act:

Title of each classTrading Symbol(s)Name of each exchange on which registered
Common Stock, $5.00 Par ValueBANew York Stock Exchange

As of April 19, 2023, there were 601,593,507 shares of common stock, $5.00 par value, issued and outstanding.

THE BOEING COMPANY

FORM 10-Q

For the Quarter Ended March 31, 2023

INDEX

Part I. Financial Information (Unaudited)Page
Item 1.Financial Statements1
Condensed Consolidated Statements of Operations1
Condensed Consolidated Statements of Comprehensive Income2
Condensed Consolidated Statements of Financial Position3
Condensed Consolidated Statements of Cash Flows4
Condensed Consolidated Statements of Equity5
Summary of Business Segment Data6
Note 1 - Basis of Presentation7
Note 2 - Earnings Per Share7
Note 3 - Income Taxes8
Note 4 - Allowance for Losses on Financial Assets9
Note 5 - Inventories9
Note 6 - Contracts with Customers10
Note 7 - Customer Financing11
Note 8 - Investments12
Note 9 - Liabilities, Commitments & Contingencies12
Note 10 - Arrangements with Off-Balance Sheet Risk16
Note 11 - Postretirement Plans17
Note 12 - Share-Based Compensation and Other Comprehensive Arrangements17
Note 13 - Shareholders' Equity18
Note 14 - Derivative Financial Instruments18
Note 15 - Fair Value Measurements20
Note 16 - Legal Proceedings22
Note 17 - Segment and Revenue Information22
Report of Independent Registered Public Accounting Firm26
Forward-Looking Statements27
Item 2.Management’s Discussion and Analysis of Financial Condition and Results of Operations29
Consolidated Results of Operations and Financial Condition29
Commercial Airplanes33
Defense, Space & Security37
Global Services40
Liquidity and Capital Resources40
Contingent Obligations42
Non-GAAP Measures42
Item 3.Quantitative and Qualitative Disclosures About Market Risk43
Item 4.Controls and Procedures44
Part II. Other Information
Item 1.Legal Proceedings45
Item 1A.Risk Factors45
Item 2.Unregistered Sales of Equity Securities and Use of Proceeds45
Item 3.Defaults Upon Senior Securities45
Item 4.Mine Safety Disclosures45
Item 5.Other Information45
Item 6.Exhibits46
Signature47

Part I. Financial Information

Next: Item 1. Financial Statements