Cash Flow Statement
Quarterly Data

The cash flow statement provides information about a company cash receipts and cash payments during an accounting period, showing how these cash flows link the ending cash balance to the beginning balance shown on the company balance sheet.

The cash flow statement consists of three parts: cash flows provided by (used in) operating activities, cash flows provided by (used in) investing activities, and cash flows provided by (used in) financing activities.

Boeing Co., consolidated cash flow statement (quarterly data)

US$ in millions

3 months ended:	Sep 30, 2025	Jun 30, 2025	Mar 31, 2025	Dec 31, 2024	Sep 30, 2024	Jun 30, 2024	Mar 31, 2024	Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020
Net earnings (loss)	(5,339)	(612)	(31)	(3,861)	(6,174)	(1,439)	(355)	(30)	(1,638)	(149)	(425)	(663)	(3,308)	160)	(1,242)	(4,164)	(132)	567)	(561)	(8,439)	(466)	(2,395)	(641)
Share-based plans expense	89)	119)	135)	97)	102)	89)	119)	142)	167)	159)	222)	197)	176)	149)	203)	156)	184)	172)	321)	85)	50)	60)	55)
Treasury shares issued for 401(k) contributions	380)	375)	418)	286)	362)	347)	606)	311)	342)	309)	553)	287)	316)	283)	329)	282)	323)	322)	306)	195)	—)	—)	—)
Depreciation and amortization	491)	460)	466)	509)	444)	441)	442)	481)	467)	456)	457)	502)	493)	498)	486)	534)	523)	551)	536)	578)	565)	547)	556)
Investment/asset impairment charges, net	2)	23)	7)	64)	14)	13)	21)	34)	—)	1)	11)	34)	6)	—)	72)	26)	34)	22)	16)	93)	37)	254)	26)
(Gain) loss on dispositions, net	1)	(67)	3)	(41)	—)	(5)	—)	(1)	—)	(1)	—)	(4)	—)	(1)	(1)	6)	(169)	(112)	(2)	(2)	(108)	(38)	(54)
777X and 767 reach-forward losses	5,140)	—)	—)	1,073)	3,006)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	3,460)	—)	—)	—)	6,493)	—)	—)	—)
Other charges and credits, net	55)	63)	99)	258)	304)	(44)	10)	28)	(55)	(3)	33)	(26)	125)	79)	223)	445)	(83)	(37)	35)	550)	100)	727)	97)
Non-cash items	6,158)	973)	1,128)	2,246)	4,232)	841)	1,198)	995)	921)	921)	1,276)	990)	1,116)	1,008)	1,312)	4,909)	812)	918)	1,212)	7,992)	644)	1,550)	680)
Accounts receivable	(153)	(113)	(570)	238)	247)	(194)	(328)	395)	(90)	(92)	(341)	164)	328)	(587)	237)	(433)	243)	(129)	(394)	784)	(18)	197)	(54)
Unbilled receivables	229)	(237)	(671)	982)	303)	12)	(1,357)	868)	174)	334)	(1,055)	684)	80)	(402)	(356)	1,424)	(803)	(417)	(790)	863)	(229)	687)	(402)
Advances and progress billings	(1,449)	(1,397)	781)	2,403)	(220)	(832)	2,718)	402)	735)	811)	1,417)	(96)	1,111)	(385)	(522)	1,724)	530)	(170)	421)	(1,488)	(1,394)	485)	1,337)
Inventories	258)	1,147)	(1,521)	(5,499)	(917)	(2,159)	(3,778)	(741)	(699)	149)	(390)	1,584)	96)	(57)	(1,203)	(1,635)	95)	1,093)	(680)	(1,349)	(2,912)	(3,768)	(2,973)
Other current assets	(38)	294)	(29)	10)	294)	(71)	(249)	(318)	394)	231)	82)	269)	(1,004)	4)	140)	66)	(45)	171)	153)	53)	(114)	105)	328)
Accounts payable	585)	49)	(95)	(915)	344)	42)	(264)	690)	130)	621)	231)	248)	195)	764)	(369)	(218)	(1,530)	(1,216)	(819)	(2,060)	(122)	(2,151)	(1,030)
Accrued liabilities	822)	138)	(386)	1,236)	770)	223)	(666)	1,353)	(175)	370)	(769)	540)	3,251)	(241)	(594)	(519)	(555)	(998)	(1,615)	107)	453)	1,097)	(583)
Income taxes receivable, payable and deferred	96)	(29)	26)	(285)	(94)	(129)	(59)	(29)	497)	(302)	(122)	(35)	1,620)	165)	(403)	(278)	1,141)	(96)	(34)	(172)	(510)	(1,002)	(892)
Other long-term liabilities	(82)	(61)	(151)	(101)	(80)	(65)	(83)	(59)	(74)	(63)	(117)	(44)	(50)	(160)	96)	(38)	(41)	(43)	(84)	(73)	(40)	(40)	(69)
Pension and other postretirement plans	(144)	(142)	(150)	(223)	(245)	(230)	(261)	(264)	(265)	(276)	(244)	(325)	(358)	(324)	(371)	(241)	(155)	(311)	(265)	(238)	(199)	(178)	(179)
Financing receivables and operating lease equipment, net	89)	173)	12)	254)	109)	70)	79)	99)	53)	318)	101)	66)	26)	32)	18)	40)	87)	37)	46)	65)	46)	39)	23)
Other	91)	44)	41)	65)	86)	8)	43)	20)	59)	2)	38)	75)	87)	104)	41)	79)	91)	111)	23)	(54)	42)	94)	153)
Changes in assets and liabilities	304)	(134)	(2,713)	(1,835)	597)	(3,325)	(4,205)	2,416)	739)	2,103)	(1,169)	3,130)	5,382)	(1,087)	(3,286)	(29)	(942)	(1,968)	(4,038)	(3,562)	(4,997)	(4,435)	(4,341)
Adjustments to reconcile net earnings (loss) to net cash provided (used) by operating activities	6,462)	839)	(1,585)	411)	4,829)	(2,484)	(3,007)	3,411)	1,660)	3,024)	107)	4,120)	6,498)	(79)	(1,974)	4,880)	(130)	(1,050)	(2,826)	4,430)	(4,353)	(2,885)	(3,661)
Net cash provided (used) by operating activities	1,123)	227)	(1,616)	(3,450)	(1,345)	(3,923)	(3,362)	3,381)	22)	2,875)	(318)	3,457)	3,190)	81)	(3,216)	716)	(262)	(483)	(3,387)	(4,009)	(4,819)	(5,280)	(4,302)
Payments to acquire property, plant and equipment	(885)	(427)	(674)	(648)	(611)	(404)	(567)	(431)	(332)	(296)	(468)	(326)	(284)	(263)	(349)	(222)	(245)	(222)	(291)	(265)	(262)	(348)	(428)
Proceeds from disposals of property, plant and equipment	1)	1)	3)	3)	16)	19)	11)	8)	6)	8)	5)	16)	3)	8)	8)	144)	334)	49)	2)	21)	179)	38)	58)
Acquisitions, net of cash acquired	—)	—)	—)	—)	—)	(50)	—)	(51)	(19)	—)	—)	—)	—)	—)	—)	—)	(6)	—)	—)	—)	—)	—)	—)
Proceeds from dispositions	—)	35)	—)	124)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)
Contributions to investments	(14,756)	(12,784)	(8,797)	(12,105)	(134)	(1,374)	(243)	(1,963)	(4,989)	(5,935)	(3,561)	(2,278)	(302)	(739)	(1,732)	(7,811)	(7,794)	(10,420)	(9,688)	(11,770)	(13,289)	(12,313)	(244)
Proceeds from investments	13,827)	11,097)	7,750)	197)	1,373)	266)	2,907)	5,242)	4,930)	3,364)	2,203)	437)	886)	4,259)	5,037)	9,825)	10,675)	12,251)	12,738)	10,503)	9,229)	316)	227)
Supplier notes receivable	(142)	(150)	—)	(200)	(8)	(486)	—)	—)	—)	(162)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)
Repayments on supplier notes receivable	—)	—)	—)	—)	40)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)
Purchase of distribution rights	—)	—)	—)	—)	—)	(88)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)
Other	—)	(1)	1)	3)	3)	17)	(34)	(1)	1)	6)	(2)	—)	(13)	1)	1)	(1)	2)	1)	3)	(32)	6)	—)	8)
Net cash (used) provided by investing activities	(1,955)	(2,229)	(1,717)	(12,626)	679)	(2,100)	2,074)	2,804)	(403)	(3,015)	(1,823)	(2,151)	290)	3,266)	2,965)	1,935)	2,966)	1,659)	2,764)	(1,543)	(4,137)	(12,307)	(379)
New borrowings	40)	69)	29)	41)	31)	10,062)	27)	20)	17)	21)	17)	15)	4)	13)	2)	(27)	(4)	12)	9,814)	4,886)	60)	24,869)	17,433)
Debt repayments	(44)	(382)	(295)	(3,849)	(343)	(39)	(4,442)	(35)	(58)	(3,424)	(1,699)	(272)	(25)	(617)	(396)	(4,322)	(1,167)	(35)	(9,847)	(2,206)	(527)	(2,411)	(5,854)
Common stock issuance, net of issuance costs	—)	—)	—)	18,200)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)
Mandatory convertible preferred stock issuance, net of issuance costs	—)	—)	—)	5,657)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)
Stock options exercised	—)	—)	—)	—)	—)	—)	—)	—)	1)	—)	44)	11)	5)	4)	30)	6)	7)	6)	23)	5)	4)	6)	21)
Employee taxes on certain share-based payment arrangements	(10)	(4)	(14)	(10)	(6)	(2)	(65)	(356)	(4)	(6)	(42)	(4)	(2)	(2)	(32)	(19)	(7)	(2)	(38)	(4)	(5)	(2)	(162)
Dividends paid on mandatory convertible preferred stock	(86)	(86)	(72)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)
Dividends paid	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	(1,158)
Other	13)	16)	14)	(68)	18)	(21)	18)	15)	6)	(4)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)
Net cash provided (used) by financing activities	(87)	(387)	(338)	19,971)	(300)	10,000)	(4,462)	(356)	(38)	(3,413)	(1,680)	(250)	(18)	(602)	(396)	(4,362)	(1,171)	(19)	(48)	2,681)	(468)	22,462)	10,280)
Effect of exchange rate changes on cash and cash equivalents	5)	22)	12)	(55)	33)	3)	(28)	52)	(24)	(8)	10)	61)	(63)	(68)	(3)	(5)	(20)	4)	(18)	59)	37)	36)	(47)
Net increase (decrease) in cash & cash equivalents, including restricted	(914)	(2,367)	(3,659)	3,840)	(933)	3,980)	(5,778)	5,881)	(443)	(3,561)	(3,811)	1,117)	3,399)	2,677)	(650)	(1,716)	1,513)	1,161)	(689)	(2,812)	(9,387)	4,911)	5,552)

Net Earnings (Loss): The net earnings exhibit significant volatility over the periods, with recurrent losses and intermittent small profits. There are multiple quarters of deep losses, such as during the end of 2020 and parts of 2024, indicating periods of financial difficulty. Occasional profits, including mid-2021 and early-2022, are relatively small and sporadic, reflecting ongoing challenges in profitability.
Share-based Plans Expense: Expenses related to share-based plans show fluctuations but generally maintain a moderate level, peaking notably in early 2021 then trending lower towards the end of the timeline. This suggests variable compensation costs which may be linked to company performance or changes in employee incentives.
Treasury Shares Issued for 401(k) Contributions: This item shows an upward trend, especially notable from late 2022 through mid-2025, reflecting growing contributions to employee retirement plans paid through treasury shares. This might imply increased employee participation or changes in company policy on compensation structure.
Depreciation and Amortization: Depreciation and amortization expenses remain fairly steady throughout the periods, with slight declines in the later periods, which could correlate with asset base changes or updates in depreciation policies.
Investment/Asset Impairment Charges: Occasional spikes are observed, notably early in the timeline and again in late 2024, indicating periods when asset write-downs or impairments were recognized. These charges are irregular but impactful to financial results during affected quarters.
(Gain) Loss on Dispositions: The gain or loss on dispositions fluctuates, with periodic small gains and losses. No consistent trend is evident, suggesting occasional asset sales or disposals without substantial impact on overall financial trends.
777X and 767 Reach-forward Losses: Significant reach-forward losses are recorded sporadically, particularly notable in 2020, late 2021, and 2024, representing substantial challenges related to specific aircraft programs that materially affect financial outcomes during those periods.
Other Charges and Credits, Net: This line item displays volatility with occasional sizable charges and credits, including major spikes in early 2020 and late 2021. The irregularity suggests episodic, possibly non-operational, items affecting the income statement.
Non-Cash Items: Non-cash adjustments are considerable and highly variable, reaching peaks during quarters with large net losses such as late 2020 and 2024, which could relate to provisions, impairments, or other accounting adjustments impacting cash flow reconciliation.
Working Capital Components (Accounts Receivable, Unbilled Receivables, Advances and Progress Billings, Inventories, Other Current Assets, Accounts Payable, Accrued Liabilities): These components demonstrate notable volatility across periods. Accounts receivable and unbilled receivables fluctuate between positive and negative changes, indicating variability in billing cycles or collection efficiency. Inventories show periods of build-up and drawdown, reflecting production activity or supply chain dynamics. Payables and accrued liabilities also vary widely, suggesting fluctuating obligations management or timing of payments.
Income Taxes Receivable/Payable and Deferred: The income tax balances show volatility with several reversals from payable to receivable and vice versa, indicating variability in tax positions, potentially influenced by profitability swings and tax planning activities.
Pension and Other Postretirement Plans: This liability shifts modestly over time, without sharp changes, reflecting steady management of pension and related obligations.
Financing Receivables and Operating Lease Equipment, Net: Moderate fluctuations are noted, with some spikes that may be attributable to lease adjustments or new financing arrangements introduced during the timeline.
Changes in Assets and Liabilities: The changes in working capital overall reflect significant fluctuations, consistent with the irregular behavior in the components. Positive and negative swings indicate varying operational cash flow contributions from working capital management.
Net Cash Provided (Used) by Operating Activities: Operating cash flow is highly volatile, with several quarters of negative cash generation interrupted by quarters of positive cash flow, especially during 2022 and parts of 2023. The inconsistency reflects operational challenges and recovery phases during the timeline.
Capital Expenditures and Proceeds from Disposals: Payments to acquire property, plant and equipment show a general increase over time, suggesting ongoing investment in capital assets. Proceeds from disposals are sporadic and generally low, indicating most assets are retained or replaced.
Investing Activities: Investing cash flows show mixed patterns with both outflows and inflows. Contributions and proceeds from investments have large swings, indicating active portfolio management or fluctuations in investment holdings. Net cash from investing activities reflects these variances.
Financing Activities: Financing cash flows are marked by substantial new borrowings during early periods driven by funding needs, offset by both scheduled and significant debt repayments later in the timeline. The issuance of common stock and preferred stock in late periods also reflects efforts to strengthen capital structure. Dividends paid and other financing-related expenses exhibit occasional payments consistent with capital management policies.
Effect of Exchange Rate Changes: Exchange rate impacts on cash fluctuate modestly, mostly small relative to other cash flow components, but occasionally contribute to net cash movement.
Net Change in Cash and Cash Equivalents: The net cash position experiences notable volatility with some periods of sharp decreases and others with significant increases. This pattern aligns with the variable cash flows from operations, investing, and financing activities, highlighting an overall volatile liquidity profile throughout the periods.

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Boeing Co. (NYSE:BA)

Cash Flow StatementQuarterly Data

Cash Flow Statement
Quarterly Data