Boeing 2012 Annual Report Download - page 120

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108
Note 23 – Quarterly Financial Data (Unaudited)
2012 2011
4th 3rd 2nd 1st 4th 3rd 2nd 1st
Total revenues $22,302 $20,008 $20,005 $19,383 $19,555 $17,727 $16,543 $14,910
Total costs and expenses (19,041) (16,794) (16,740) (16,069) (16,261) (14,357) (13,200) (12,049)
Earnings from operations 1,629 1,564 1,548 1,570 1,597 1,714 1,534 1,000
Net earnings from continuing
operations 978 1,034 967 924 1,387 1,094 942 588
Net gain/(loss) from disposal of
discontinued operations (2) (1) 64(1)(2)
Net earnings 978 1,032 967 923 1,393 1,098 941 586
Basic earnings per share from
continuing operations 1.29 1.36 1.28 1.23 1.85 1.47 1.27 0.79
Basic earnings per share 1.29 1.36 1.28 1.23 1.86 1.47 1.27 0.79
Diluted earnings per share
from continuing operations 1.28 1.35 1.27 1.22 1.83 1.46 1.25 0.78
Diluted earnings per share 1.28 1.35 1.27 1.22 1.84 1.46 1.25 0.78
Cash dividends declared per
share 0.925 0.88 0.86 0.84
Common stock sales price per
share:
High 76.56 75.96 77.83 76.74 74.74 76.20 80.65 74.47
Low 69.20 69.03 66.82 72.30 56.90 56.01 70.29 66.00
Quarter end 75.36 69.60 74.30 74.37 73.35 60.51 73.93 73.93
Gross profit is calculated as Total revenues minus Total costs and expenses. Total costs and expenses
includes cost of products, cost of services and BCC interest expense.
We increased our dividend from $0.42 to $0.44 in December 2011 and to $0.485 in December 2012.
During the fourth quarter of 2011, we recorded a tax benefit of $397 as a result of settling the 2004-2006
federal audit.
Note 24 – Subsequent Events
A battery-related failure occurred on a 787 aircraft on January 7, 2013. On January 15, 2013 a second
787 aircraft had a battery incident. On January 16, 2013, the Federal Aviation Administration issued an
airworthiness directive to address potential battery risk on the 787 and required U.S. aircraft operators to
suspend operations of all 787 aircraft. International government regulators also issued directives to the
same effect. We are working with the government regulators and 787 aircraft operators to investigate both
incidents. While production continues on the 787, we have suspended deliveries until appropriate clearance
is granted by the regulatory agencies. We are unable to reasonably estimate a loss or a range of loss at
this time because such estimates are dependent on the ultimate finding as to cause and the timing and
conditions surrounding a resolution and return to flight. Any such resolution could have a material effect
on our financial position, results of operations or cash flows.