Boeing 2010 Annual Report Download - page 135

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EXHIBIT (12)
Computation of Ratio of Earnings to Fixed Charges
The Boeing Company and Subsidiaries
(Dollars in millions)
Years ended December 31, 2010 2009 2008 2007 2006
Earnings before federal taxes on income $4,507 $1,731 $3,995 $6,118 $3,194
Fixed charges excluding capitalized interest 726 564 492 557 636
Amortization of previously capitalized interest 60 61 50 58 51
Net adjustment for earnings from affiliates (11) (10) (10) (28) (12)
Earnings available for fixed charges $5,282 $2,346 $4,527 $6,705 $3,869
Fixed charges:
Interest and debt expense(1) $ 676 $ 514 $ 425 $ 491 $ 593
Interest capitalized during the period 48 90 99 117 110
Rentals deemed representative of an interest factor 50 50 67 66 43
Total fixed charges $ 774 $ 654 $ 591 $ 674 $ 746
Ratio of earnings to fixed charges 6.8 3.6 7.7 9.9 5.2
(1) Amount does not include tax-related interest expense which is reported as a component of Income
tax expense in our Consolidated Statements of Operations.
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