Boeing 2009 Annual Report Download - page 28

Item 6. Selected Financial Data
Five-Year Summary (Unaudited)
(Dollars in millions, except per share data) 2009 2008 2007 2006 2005
Operations
Revenues
Commercial Airplanes $ 34,051 $ 28,263 $ 33,386 $ 28,465 $ 21,365
Boeing Defense, Space & Security:(a)
Boeing Military Aircraft 14,057 13,311 13,499 14,014 13,273
Network & Space Systems 10,877 11,346 11,481 11,772 11,995
Global Services & Support 8,727 7,390 7,072 6,625 5,837
Total Boeing Defense, Space & Security 33,661 32,047 32,052 32,411 31,105
Boeing Capital Corporation 660 703 815 1,025 966
Other segment 165 567 308 327 658
Unallocated items and eliminations (256) (671) (174) (698) (473)
Total revenues $ 68,281 $ 60,909 $ 66,387 $ 61,530 $ 53,621
General and administrative expense 3,364 3,084 3,531 4,171 4,228
Research and development expense 6,506 3,768 3,850 3,257 2,205
Other income/(loss), net (26) 247 484 420 301
Net earnings from continuing operations $ 1,335 $ 2,654 $ 4,058 $ 2,206 $ 2,562
Net gain/(loss) on disposal of discontinued operations, net of tax (23) 18 16 9 (7)
Cumulative effect of accounting change, net of taxes 17
Net earnings $ 1,312 $ 2,672 $ 4,074 $ 2,215 $ 2,572
Basic earnings per share from continuing operations 1.89 3.68 5.36 2.88 3.26
Diluted earnings per share from continuing operations 1.87 3.65 5.26 2.84 3.19
Cash dividends declared $ 1,233 $ 1,187 $ 1,129 $ 991 $ 861
Per share 1.68 1.62 1.45 1.25 1.05
Additions to Property, plant and equipment 1,186 1,674 1,731 1,681 1,547
Depreciation of Property, plant and equipment 1,066 1,013 978 1,058 1,001
Employee salaries and wages 15,424 15,559 14,852 15,871 13,667
Year-end workforce 157,100 162,200 159,300 154,000 153,000
Financial position at December 31
Total assets(b) $ 62,053 $ 53,779 $ 58,986 $ 51,794 $ 59,996
Working capital 2,392 (4,809) (4,184) (6,665) (6,202)
Property, plant and equipment, net 8,784 8,762 8,265 7,675 8,420
Cash and cash equivalents 9,215 3,268 7,042 6,118 5,412
Short-term investments 2,008 11 2,266 268 554
Total debt 12,924 7,512 8,217 9,538 10,727
Customer financing assets 5,834 6,282 7,105 8,890 10,006
Shareholders’ equity(b)(d) 2,225 (1,142) 9,078 4,792 11,077
Per share 3.06 (1.64) 12.32 6.32 14.56
Common shares outstanding (in millions)(c) 726.3 698.1 736.7 757.8 760.6
Contractual Backlog
Commercial Airplanes $250,476 $278,575 $255,176 $174,276 $124,132
Boeing Defense, Space & Security:(a)
Boeing Military Aircraft 26,311 25,710 22,974 24,689 21,582
Network & Space Systems 7,746 8,868 9,207 7,786 6,144
Global Services & Support 11,967 10,707 9,607 9,812 8,779
Total Boeing Defense, Space & Security 46,024 45,285 41,788 42,287 36,505
Total $296,500 $323,860 $296,964 $216,563 $160,637
Cash dividends have been paid on common stock every year since 1942.
(a) In 2006, we realigned BDS into three capabilities-driven businesses: BMA (formerly Precision Engagement and Mobility
Systems), N&SS and GS&S (formerly 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 BDS segments.
Effective January 1, 2009, 2008 and 2007, certain programs were realigned between BDS segments. Prior years have been
recast for segment realignments.
(b) In 2006, we adopted an accounting standard that required us to reflect the funded status of the pension and postretirement
plans in our Consolidated Statements of Financial Position. This reduced shareholders’ equity by $8.2 billion. Retrospective
application is not permitted.
(c) Computation represents actual shares outstanding as of December 31 and excludes treasury shares and the outstanding
shares held by the ShareValue Trust.
(d) Effective January 1, 2009, we adopted a new accounting standard requiring noncontrolling interests to be separately
presented as a component of shareholders’ equity. Prior years have been adjusted to conform to the new standard.
16