Boeing 2010 Annual Report Download - page 104
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Estimated Future Benefit Payments The table below reflects the total pension benefits expected to
be paid from the plans or from our assets, including both our share of the benefit cost and the
participants’ share of the cost, which is funded by participant contributions. OPB payments reflect our
portion only.
Year(s) 2011 2012 2013 2014 2015 2016–2020
Pensions $2,731 $2,848 $2,992 $3,145 $3,279 $18,712
Other postretirement benefits:
Gross benefits paid 553 568 592 620 645 3,659
Medicare Part D subsidy (31) (32) (33) (34) (35) (177)
Net other postretirement benefits $ 522 $ 536 $ 559 $ 586 $ 610 $ 3,482
Termination Provisions
Certain of the pension plans provide that, in the event there is a change in control of the Company
which is not approved by the Board of Directors and the plans are terminated within five years
thereafter, the assets in the plan first will be used to provide the level of retirement benefits required by
ERISA, and then any surplus will be used to fund a trust to continue present and future payments
under the postretirement medical and life insurance benefits in our group insurance benefit programs.
We have an agreement with the U.S. government with respect to certain pension plans. Under the
agreement, should we terminate any of the plans under conditions in which the plan’s assets exceed
that plan’s obligations, the U.S. government will be entitled to a fair allocation of any of the plan’s
assets based on plan contributions that were reimbursed under U.S. government contracts.
401(k) Plans
We provide certain defined contribution plans to all eligible employees. The principal plans are the
Company-sponsored 401(k) plans. The expense for these defined contribution plans was $614, $591
and $571 in 2010, 2009 and 2008, respectively.
Note 15 – Share-Based Compensation and Other Compensation Arrangements
Share-Based Compensation
Our 2003 Incentive Stock Plan, as amended on April 27, 2009, permits awards of incentive stock
options, nonqualified stock options, restricted stock, stock units, Performance Shares, performance
units and other incentives to our employees, officers, consultants and independent contractors. The
aggregate number of shares of our stock available for issuance under the amended plan will not
exceed 80,000,000 and no more than an aggregate of 16,000,000 shares are available for issuance as
restricted stock awards.
Shares issued as a result of stock option exercises or conversion of stock unit awards will be funded
out of treasury shares, except to the extent there are insufficient treasury shares, in which case new
shares will be issued. We believe we currently have adequate treasury shares to meet any
requirements to issue shares during 2011.
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