Boeing 2007 Annual Report Download - page 24

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21
Five-Year Summary (Unaudited)
(Dollars in millions except per share data) 2007 2006 2005 2004 2003
Operations
Revenues
Commercial Airplanes
(a) $««33,386 $÷28,465 $÷21,365 $÷19,925 $÷21,380
Integrated Defense Systems:
(b)(c)
Precision Engagement and Mobility Systems 13,685 14,107 13,308 12,646 11,605
Network and Space Systems 11,696 11,941 12,221 12,992 11,392
Support Systems 6,699 6,391 5,577 5,101 4,610
Total Integrated Defense Systems 32,080 32,439 31,106 30,739 27,607
Boeing Capital Corporation
(d) 815 1,025 966 959 991
Other 280 299 657 275 625
Accounting differences/eliminations (174) (698) (473) (498) (1,292)
Total revenues $««66,387 $÷61,530 $÷53,621 $÷51,400 $÷49,311
General and administrative expense
(d) 3,531 4,171 4,228 3,657 3,200
Research and development expense 3,850 3,257 2,205 1,879 1,651
Other income, net 484 420 301 288 460
Net earnings from continuing operations
(d) $««««4,058 $÷÷2,206 $÷÷2,562 $÷÷1,820 $÷÷÷«685
Cumulative effect of accounting change, net of taxes 17
Income from discontinued operations, net of taxes
(e) 10 33
Net gain/(loss) on disposal of discontinued operations, net of tax 16 9 (7) 42
Net earnings $««««4,074 $÷««2,215 $÷÷2,572 $÷÷1,872 $÷÷÷«718
Basic earnings per share from continuing operations 5.36 2.88 3.26 2.27 0.86
Diluted earnings per share from continuing operations 5.26 2.84 3.19 2.24 0.85
Cash dividends declared $««««1,129 $÷÷÷«991 $÷÷÷«861 $÷÷÷«714 $573
Per share 1.45 1.25 1.05 0.85 0.68
Additions to plant and equipment 1,731 1,681 1,547 1,246 836
Depreciation of plant and equipment 978 1,058 1,001 1,028 1,005
Employee salaries and wages 14,852 15,871 13,667 12,700 12,067
Year-end workforce 159,300 154,000 153,000 159,000 157,000
Financial position at December 31
Total assets
(e) $««58,986 $««51,794 $÷59,996 $÷56,224 $÷55,171
Working capital (4,258) (6,718) (6,220) (5,735) 892
Property, plant and equipment, net 8,265 7,675 8,420 8,443 8,597
Cash and cash equivalents 7,042 6,118 5,412 3,204 4,633
Short-term investments 2,266 268 554 319
Total debt 8,217 9,538 10,727 12,200 14,443
Customer financing assets 7,105 8,890 10,006 11,001 10,914
Shareholders’ equity
(e) 9,004 4,739 11,059 11,286 8,139
Per share 12.22 6.25 14.54 14.23 10.17
Common shares outstanding (in millions)
(f) 736.7 757.8 760.6 793.2 800.3
Contractual Backlog
Commercial Airplanes
(a) $255,176 $174,276 $124,132 $««65,482 $÷63,929
Integrated Defense Systems:
(b)(c)
Precision Engagement and Mobility Systems 22,957 24,739 21,630 21,296 22,871
Network and Space Systems 9,167 7,838 6,324 10,923 11,753
Support Systems 9,664 9,714 8,551 7,077 6,302
Total Integrated Defense Systems 41,788 42,291 36,505 39,296 40,926
Total $296,964 $216,567 $160,637 $104,778 $104,855
Cash dividends have been paid on common stock every year since 1942.
(a) In the first quarter of 2006, Commercial Airplanes changed its accounting policy for concessions received from vendors. The years 2005 through 2003 were
retroactively adjusted for comparative purposes.
(b) Effective January 1, 2007, the B-1 bomber program (formerly included in PE&MS) and certain Boeing Australia Limited programs (formerly included in N&SS) are
included in Support Systems. The years 2006 through 2003 were restated for comparative purposes.
(c) In 2006, we realigned IDS into three capabilities-driven businesses: PE&MS, N&SS, and Support Systems. As part of the realignment, certain advanced systems
and research and development activities previously included in the Other segment transferred to the new IDS segments. The years 2005 through 2002 were
restated for comparative purposes.
(d) During 2004, BCC sold substantially all of the assets related to its Commercial Financial Services business. Thus, the Commercial Financial Services business is
reflected as discontinued operations. The year 2003 was restated for comparative purposes.
(e) Statement of Financial Accounting Standard No. 158, Employers’ Accounting for Defined Benefit Pension and Other Postretirement Plans was adopted in 2006
and reduced shareholders’ equity by $8.2 billion. Retrospective application is not permitted.
(f) Computation represents actual shares outstanding as of December 31, and excludes treasury shares and the outstanding shares held by the ShareValue Trust.
The Boeing Company and Subsidiaries