Boeing 2012 Annual Report Download - page 85
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73
Commercial Aircraft Programs
At December 31, 2012 and 2011, commercial aircraft programs inventory included the following amounts
related to the 787 program: $21,289 and $16,098 of work in process (including deferred production costs
at December 31, 2012 of $15,929 and $10,753), $1,908 and $1,770 of supplier advances, and $2,339
and $1,914 of unamortized tooling and other non-recurring costs. At December 31, 2012, $12,810 of 787
deferred production costs, unamortized tooling and other non-recurring costs are expected to be recovered
from units included in the program accounting quantity that have firm orders and $5,458 is expected to be
recovered from units included in the program accounting quantity that represent expected future orders.
At December 31, 2012 and 2011, commercial aircraft programs inventory included the following amounts
related to the 747 program: $1,292 and $448 of deferred production costs, net of previously recorded
reach-forward losses, and $683 and $852 of unamortized tooling costs. At December 31, 2012, $1,048 of
747 deferred production costs and unamortized tooling are expected to be recovered from units included
in the program accounting quantity that have firm orders and $927 is expected to be recovered from units
included in the program accounting quantity that represent expected future orders.
Commercial aircraft programs inventory included amounts credited in cash or other consideration (early
issue sales consideration) to airline customers totaling $2,989 and $2,564 at December 31, 2012 and
2011.
Note 8 – Customer Financing
Customer financing at December 31 consisted of the following:
2012 2011
Financing receivables:
Investment in sales-type/finance leases $1,850 $2,037
Notes 592 814
Operating lease equipment, at cost, less accumulated depreciation of $628 and
$765 2,038 1,991
Gross customer financing 4,480 4,842
Less allowance for losses on receivables (60) (70)
Total $4,420 $4,772
The components of investment in sales-type/finance leases at December 31 were as follows:
2012 2011
Minimum lease payments receivable $1,987 $2,272
Estimated residual value of leased assets 544 541
Unearned income (681) (776)
Total $1,850 $2,037
Operating lease equipment primarily includes large commercial jet aircraft and regional jet aircraft. At
December 31, 2012 and 2011, operating lease equipment included $354 and $521 of equipment available
for sale or re-lease. At December 31, 2012 and 2011, we had firm lease commitments for $266 and $476
of this equipment.
When our Commercial Airplanes segment is unable to immediately sell used aircraft, it may place the
aircraft under an operating lease. It may also provide customer financing with a note receivable. The
carrying amount of the Commercial Airplanes segment used aircraft under operating leases and notes