Boeing 2009 Annual Report Download - page 86
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Commercial Spare Parts, Used Aircraft, General Stock Materials and Other
As a normal course of our Commercial Airplanes segment production process, our inventory may
include a small quantity of airplanes that are completed but unsold. As of December 31, 2009 and
2008, the value of completed but unsold aircraft in inventory was insignificant. Inventory balances
included $235 subject to claims or other uncertainties relating to the A-12 program at December 31,
2009 and 2008 (See Note 20).
Note 8 – Customer Financing
Customer financing at December 31 consisted of the following:
2009 2008
Aircraft financing
Notes receivable $ 779 $ 615
Investment in sales-type/finance leases 2,391 2,528
Operating lease equipment, at cost, less accumulated depreciation of $784
and $771 2,737 3,152
Other financing
Notes receivable 229 256
Less allowance for losses on receivables (302) (269)
$5,834 $6,282
The components of investment in sales-type/finance leases at December 31 were as follows:
2009 2008
Minimum lease payments receivable $ 3,147 $ 3,451
Estimated residual value of leased assets 677 735
Unearned income (1,433) (1,658)
$ 2,391 $ 2,528
Aircraft financing operating lease equipment primarily includes jet and commuter aircraft. At
December 31, 2009 and 2008, aircraft financing operating lease equipment included $385 and $685 of
equipment available for sale or re-lease. At December 31, 2009 and 2008, we had firm lease
commitments for $345 and $305 of this equipment.
When our Commercial Airplanes segment is unable to immediately sell used aircraft, it may place the
aircraft under an operating lease. It may also provide customer financing with a note receivable. The
carrying amount of the Commercial Airplanes segment used aircraft under operating leases and notes
receivable included as a component of customer financing totaled $203 and $232 as of December 31,
2009 and 2008.
Impaired receivables and the allowance for losses on those receivables consisted of the following at
December 31:
2009 2008
Impaired receivables with no specific impairment allowance $1$163
Impaired receivables with specific impairment allowance 144 16
Allowance for losses on impaired receivables 28
74