Boeing 2006 Annual Report Download - page 82

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80 The Boeing Company and Subsidiaries
Quarterly Financial Data (Unaudited)
2006 2005
4th 3rd 2nd 1st 4th 3rd 2nd 1st
Revenues $17,541 $14,739 $14,986 $14,264 $13,898 $12,355 $14,687 $12,681
Earnings/(loss) from
continuing operations 1,152 951 (48)959 544 763 818 687
Net earnings/(loss) from continuing operations 980 694 (160)692 464 1,013 571 514
Cumulative effect of accounting change (4)21
Net gain/(loss) from discontinued operations 9(2)(5)
Net earnings/(loss) 989 694 (160)692 460 1,011 566 535
Basic earnings/(loss) per share from
continuing operations 1.29 0.90 (0.21)0.90 0.61 1.28 0.72 0.65
Basic earnings/(loss) per share 1.30 0.90 (0.21)0.90 0.60 1.28 0.72 0.67
Diluted earnings/(loss) per share from
continuing operations 1.28 0.89 (0.21)0.88 0.59 1.26 0.70 0.64
Diluted earnings/(loss) per share 1.29 0.89 (0.21)0.88 0.58 1.26 0.70 0.66
Cash dividends paid per share 0.30 0.30 0.30 0.30 0.25 0.25 0.25 0.25
Market price:
High 92.05 84.06 89.58 79.50 72.40 68.38 66.85 58.94
Low 77.77 72.13 76.40 65.90 63.70 62.01 56.22 49.52
Quarter end 88.84 78.85 81.91 77.93 70.24 67.95 66.00 58.46
During the second and fourth quarters of 2006, we recorded
charges of $496 and $274 on our international Airborne Early
Warning and Control program in our PE&MS segment. During
the third and fourth quarters of 2006, we recorded charges of
$280 and $40 due to exiting the Connexion by Boeing busi-
ness. During the second quarter of 2006, we recorded a
charge of $571 as part of the global settlement with the U.S.
Department of Justice.
During the fourth quarter of 2005, we recognized a net loss of
$200 comprised of a $228 pension curtailment/settlement loss
and other postretirement benefit curtailment gain of $28 as a
result of our sale of our Rocketdyne business. During the third
quarter of 2005, we recognized a net loss of $184 comprised
of a $250 loss on pension curtailment/settlement and other
postretirement benefit curtailment gain of $66 relating to the
Wichita, Tulsa and McAlester sale. We also completed the
sale of our Rocketdyne business to United Technologies and
recorded a net-pretax gain of $578. We also received a tax
refund of $537, which resulted in an increase to net income
of $406. During the second quarter of 2005, we had a pre-tax,
primarily non-cash, charge of $103 resulting from Commercial
Airplanes’ sale of its Wichita, Tulsa and McAlester operations
to Spirit for approximately $900 cash. During the first quarter
of 2005, we recorded a $25 gain and in addition recorded a
pre-tax loss of $68 in Accounting differences/eliminations for
net pension and other post retirement benefit curtailments and
settlements after completing the stock sale of Electron Dynamic
Devices Inc. (EDD) to L-3 Communications.