Stock Analysis on Net
Stock Analysis on Net
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Boeing Co. (NYSE:BA)

Income Statement
Quarterly Data

Beginner level

The income statement presents information on the financial results of a company’s business activities over a period of time. The income statement communicates how much revenue the company generated during a period and what cost it incurred in connection with generating that revenue.

Boeing Co., consolidated income statement (quarterly data)

US$ in millions

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3 months ended: Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019 Dec 31, 2018 Sep 30, 2018 Jun 30, 2018 Mar 31, 2018 Dec 31, 2017 Sep 30, 2017 Jun 30, 2017 Mar 31, 2017 Dec 31, 2016 Sep 30, 2016 Jun 30, 2016 Mar 31, 2016
Sales of products 12,486  11,402  9,063  14,191  15,580  17,195  13,094  20,225  25,381  22,463  21,565  20,820  22,720  21,825  20,147  18,512  20,836  21,494  22,184  19,885 
Sales of services 2,818  2,737  2,744  2,717  2,331  2,785  2,657  2,692  2,960  2,683  2,693  2,562  2,648  2,484  2,592  2,464  2,450  2,404  2,571  2,747 
Revenues 15,304  14,139  11,807  16,908  17,911  19,980  15,751  22,917  28,341  25,146  24,258  23,382  25,368  24,309  22,739  20,976  23,286  23,898  24,755  22,632 
Cost of products (18,567) (10,910) (10,378) (14,713) (16,293) (14,674) (15,672) (16,238) (19,788) (18,882) (17,436) (16,816) (18,509) (18,050) (16,443) (15,363) (17,596) (17,907) (20,265) (16,945)
Cost of services (2,415) (2,185) (2,589) (2,043) (2,402) (2,241) (2,122) (2,389) (2,284) (2,140) (2,083) (1,992) (1,901) (1,910) (1,932) (1,888) (1,855) (1,983) (2,044) (2,136)
Cost of products and services (20,982) (13,095) (12,967) (16,756) (18,695) (16,915) (17,794) (18,627) (22,072) (21,022) (19,519) (18,808) (20,410) (19,960) (18,375) (17,251) (19,451) (19,890) (22,309) (19,081)
Boeing Capital interest expense (10) (10) (11) (12) (13) (15) (16) (18) (18) (18) (17) (16) (17) (27) (13) (13) (13) (14) (16) (16)
Costs and expenses (20,992) (13,105) (12,978) (16,768) (18,708) (16,930) (17,810) (18,645) (22,090) (21,040) (19,536) (18,824) (20,427) (19,987) (18,388) (17,264) (19,464) (19,904) (22,325) (19,097)
Gross profit (5,688) 1,034  (1,171) 140  (797) 3,050  (2,059) 4,272  6,251  4,106  4,722  4,558  4,941  4,322  4,351  3,712  3,822  3,994  2,430  3,535 
Income (loss) from operating investments, net 70  (14) (45) (2) (1) (8) (15) 20  (1) 32  74  35  49  39  81  83  69  97  54 
General and administrative expense (1,828) (955) (1,161) (873) (1,052) (1,001) (672) (1,184) (1,222) (1,154) (1,194) (997) (1,206) (915) (1,040) (933) (999) (923) (806) (888)
Research and development expense, net (605) (574) (625) (672) (749) (778) (826) (866) (852) (826) (827) (764) (761) (767) (813) (838) (726) (857) (2,127) (917)
Gain (loss) on dispositions, net 108  38  54  395  (4) 192  108  (1) 69  21  —  (2) (1) (13)
Earnings (loss) from operations (8,049) (401) (2,964) (1,353) (2,204) 1,259  (3,380) 2,350  4,175  2,227  2,710  2,875  3,030  2,689  2,535  2,024  2,183  2,282  (419) 1,788 
Other income (loss), net 122  119  94  112  85  106  100  106  20  10  (24) 65  34  45  26  22  (1) 12  27 
Interest and debt expense (698) (643) (553) (262) (242) (203) (154) (123) (158) (106) (109) (102) (93) (87) (93) (87) (79) (81) (73) (73)
Earnings (loss) before income taxes (8,625) (925) (3,423) (1,503) (2,361) 1,162  (3,434) 2,333  4,037  2,131  2,577  2,838  2,971  2,647  2,468  1,959  2,103  2,202  (480) 1,742 
Income tax (expense) benefit 186  459  1,028  862  1,332  (10) 485  (184) (622) 230  (390) (362) 160  (794) (708) (508) (472) 76  245  (522)
Net earnings (loss) (8,439) (466) (2,395) (641) (1,029) 1,152  (2,949) 2,149  3,415  2,361  2,187  2,476  3,131  1,853  1,760  1,451  1,631  2,278  (235) 1,220 
Net (earnings) loss attributable to noncontrolling interest 19  17  19  13  19  15  —  —  —  —  (1)
Net earnings (loss) attributable to Boeing Shareholders (8,420) (449) (2,376) (628) (1,010) 1,167  (2,942) 2,149  3,424  2,363  2,196  2,477  3,132  1,853  1,761  1,451  1,631  2,279  (234) 1,219 

Based on: 10-K (filing date: 2021-02-01), 10-Q (filing date: 2020-10-28), 10-Q (filing date: 2020-07-29), 10-Q (filing date: 2020-04-29), 10-K (filing date: 2020-01-31), 10-Q (filing date: 2019-10-23), 10-Q (filing date: 2019-07-24), 10-Q (filing date: 2019-04-24), 10-K (filing date: 2019-02-08), 10-Q (filing date: 2018-10-24), 10-Q (filing date: 2018-07-25), 10-Q (filing date: 2018-04-25), 10-K (filing date: 2018-02-12), 10-Q (filing date: 2017-10-25), 10-Q (filing date: 2017-07-26), 10-Q (filing date: 2017-04-26), 10-K (filing date: 2017-02-08), 10-Q (filing date: 2016-10-26), 10-Q (filing date: 2016-07-27), 10-Q (filing date: 2016-04-27).

Income statement item Description The company
Revenues Amount, including tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value-added and excise. Boeing Co.’s revenues increased from Q2 2020 to Q3 2020 and from Q3 2020 to Q4 2020.
Earnings (loss) from operations The net result for the period of deducting operating expenses from operating revenues. Boeing Co.’s earnings (loss) from operations increased from Q2 2020 to Q3 2020 but then decreased significantly from Q3 2020 to Q4 2020.
Earnings (loss) before income taxes Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest. Boeing Co.’s earnings (loss) before income taxes increased from Q2 2020 to Q3 2020 but then decreased significantly from Q3 2020 to Q4 2020.
Net earnings (loss) attributable to Boeing Shareholders The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Boeing Co.’s net earnings (loss) attributable to Boeing Shareholders increased from Q2 2020 to Q3 2020 but then decreased significantly from Q3 2020 to Q4 2020.