Boeing 2008 Annual Report Download - page 83
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Basic earnings per share is calculated by the sum of (1) net earnings less declared dividends and
dividend equivalents related to share-based compensation divided by the basic weighted average
shares outstanding and (2) declared dividends and dividend equivalents related to share-based
compensation divided by the weighted average shares outstanding.
The weighted-average number of shares outstanding, included in the table below, is excluded from the
computation of diluted earnings per share because the average market price did not exceed the
exercise/threshold price. However, these shares may be dilutive potential common shares in the future.
(Shares in millions)
Years ended December 31, 2008 2007 2006
Stock options 14.9
ShareValue Trust 12.7 25.8 24.6
Performance Awards 2.0 3.0 1.4
Performance Shares 0.7 0.7 4.0
Stock units 0.3 0.1
Note 4 – Income Taxes
The components of earnings before income taxes were:
Years ended December 31, 2008 2007 2006
U.S. $3,794 $5,901 $3,067
Non-U.S. 201 217 127
$3,995 $6,118 $3,194
Income tax expense/(benefit) consisted of the following:
Years ended December 31, 2008 2007 2006
Current tax expense
U.S. federal $44$1,260 $193
Non-U.S. 29 139 35
U.S. state 20 164 (58)
93 1,563 170
Deferred tax expense
U.S. federal 1,151 487 750
Non-U.S. 26 (6) (6)
U.S. state 71 16 74
1,248 497 818
Total income tax expense $1,341 $2,060 $988
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