Boeing 2011 Annual Report Download - page 88

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Depreciation expense was $1,119, $1,096 and $1,066 for the years ended December 31, 2011, 2010
and 2009, respectively. Interest capitalized during the years ended December 31, 2011, 2010 and
2009 totaled $57, $48 and $90, respectively.
Rental expense for leased properties was $270, $269 and $273, for the years ended December 31,
2011, 2010 and 2009, respectively. At December 31, 2011, minimum rental payments under capital
leases aggregated $197. Minimum rental payments under operating leases with initial or remaining
terms of one year or more aggregated $1,311, net of sublease payments of $4, at December 31, 2011.
Non-cancellable future rentals due from customers for equipment on operating leases aggregated
$105 at December 31, 2011. Payments due under operating and capital leases net of sublease
amounts, and non-cancellable future rentals during the next five years are as follows:
2012 2013 2014 2015 2016
Minimum operating lease payments, net of sublease amounts $202 $180 $152 $100 $81
Future rentals due from customers for equipment on operating
leases 15 14 13 13 10
Minimum capital lease payments, net of sublease amounts 91 73 25 6 1
Accounts payable related to purchases of property, plant and equipment were $200 and $265 for the
years ended December 31, 2011 and 2010.
Note 10 – Investments
Our investments, which are recorded in Short-term and other investments or Investments, consisted of
the following at December 31:
2011 2010
Time deposits $1,134 $5,100
Pledged money market funds(1) 56 57
Available-for-sale investments 10 15
Equity method investments 1,003 1,072
Restricted Cash(2) 31
Other investments 32 25
Total $2,266 $6,269
(1) Reflects amounts pledged in lieu of letters of credit as collateral in support of our workers’
compensation programs. These funds can become available within 30 days notice upon issuance
of replacement letters of credit.
(2) Restricted to pay group term life insurance premiums for certain employees on long-term disability.
Equity Method Investments
Our effective ownership percentages and balances of equity method investments consisted of the
following as of December 31:
Segment
Ownership
Percentages
Investment
Balance
2011 2010
United Launch Alliance Network & Space Systems 50% $ 983 $ 950
United Space Alliance Network & Space Systems 50% (147)(1) (40)(1)
Other Primarily Commercial Airplanes 167 162
Total Equity method investments $1,003 $1,072
(1) Credit balances are a result of our proportionate share of the joint venture’s pension and
postretirement related adjustments which reduce the carrying value of the investment.
76