Boeing 2012 Annual Report Download - page 32

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20
services revenues. BDS revenues increased by $33 million primarily due to higher revenues in the BMA
and GS&S segments, partially offset by lower revenues in the N&SS segment.
Earnings From Operations
The following table summarizes our earnings/(loss) from operations:
(Dollars in millions)
Years ended December 31, 2012 2011 2010
Commercial Airplanes $4,711 $3,495 $3,006
Defense, Space & Security 3,068 3,158 2,875
Boeing Capital 82 113 152
Other segment (159) 66 (327)
Unallocated items and eliminations (1,391) (988) (735)
Total $6,311 $5,844 $4,971
Operating earnings in 2012 increased by $467 million compared with 2011. Commercial Airplanes earnings
increased by $1,216 million reflecting higher new airplane deliveries and lower research and development
expense partially offset by higher fleet support costs, increased operating costs associated with business
growth, other period costs and decreased earnings from commercial aviation services. BDS earnings
decreased by $90 million due to lower earnings in the N&SS segment, partially offset by higher earnings
in the GS&S and BMA segments. Other segment losses increased by $225 million primarily due to a
reduction in the allowance for losses on receivables in 2011. Unallocated items and eliminations in 2012
reduced earnings by $403 million compared with 2011 primarily due to higher pension costs.
Operating earnings in 2011 increased by $873 million compared with 2010. Commercial Airplanes earnings
increased by $489 million, primarily due to higher revenues and a reduction in research and development
costs, partially offset by increases in period costs associated with business growth. BDS earnings increased
by $283 million compared with 2010 due to higher earnings in the BMA and GS&S segments, partially
offset by lower earnings in the N&SS segment. Other segment earnings increased by $393 million primarily
due to a $241 million reduction in the allowance for losses on receivables during 2011. Unallocated items
and eliminations in 2011 reduced earnings by $253 million compared with 2010 primarily due to higher
pension and postretirement costs.