Stock Analysis on Net
Stock Analysis on Net

Boeing Co. (NYSE:BA)

$24.99

Statement of Comprehensive Income

Comprehensive income is the change in equity (net assets) of a business enterprise during a period from transactions and other events and circumstances from non-owners sources. It includes all changes in equity during a period except those resulting from investments by owners and distributions to owners.

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Boeing Co., consolidated statement of comprehensive income

US$ in millions

Microsoft Excel
12 months ended: Dec 31, 2025 Dec 31, 2024 Dec 31, 2023 Dec 31, 2022 Dec 31, 2021
Net earnings (loss)
Currency translation adjustments
Reclassification of realized loss on foreign currency translation to Gain on dispositions, net
Unrealized gain (loss) on certain investments, net of tax
Unrealized gain (loss) arising during period, net of tax
Reclassification adjustment for (gain) loss included in net earnings (loss), net of tax
Unrealized gain (loss) on derivative instruments, net of tax
Net actuarial gain (loss) arising during the period, net of tax
Amortization of actuarial (gain) loss included in net periodic benefit cost, net of tax
Settlement (gain) loss included in net periodic cost, net of tax
Amortization of prior service cost (credits) included in net periodic benefit cost, net of tax
Prior service cost (credits) arising during the period, net of tax
Pension and postretirement (cost) benefit related to equity method investments, net of tax
Defined benefit pension plans & other postretirement benefits, net of tax
Other comprehensive income (loss), net of tax
Comprehensive income (loss)
Comprehensive (income) loss attributable to noncontrolling interest
Comprehensive income (loss) attributable to Boeing Shareholders

Based on: 10-K (reporting date: 2025-12-31), 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31).

The statement of comprehensive income reveals significant volatility over the five-year period. Net earnings demonstrate a substantial swing from losses in the initial years to a profit in the final year. However, other comprehensive income components contribute significantly to the overall comprehensive income picture, often offsetting or exacerbating the impact of net earnings.

Net Earnings Trend
Net earnings began with a substantial loss of US$4.29 billion in 2021, worsening to a loss of US$5.053 billion in 2022. A recovery was observed in 2023 with a loss of US$2.242 billion, but this was followed by a significant loss of US$11.829 billion in 2024. Finally, the period concludes with a profit of US$2.238 billion in 2025, indicating a substantial turnaround.
Other Comprehensive Income (OCI) Components
Currency translation adjustments fluctuate, initially negative, becoming positive in 2025. Unrealized gains and losses on investments and derivative instruments also exhibit volatility, with significant losses in 2024 offset by gains in 2025. The most substantial component of OCI is related to defined benefit pension plans and other postretirement benefits. This item shows a large positive impact in 2021 and 2022, a significant negative impact in 2023, a smaller negative impact in 2024, and a positive impact in 2025.
Pension and Postretirement Benefits
The net actuarial gain (loss) arising during the period is highly variable, moving from a substantial gain in 2021 to a significant loss in 2023. Amortization of actuarial gains and losses, and prior service costs, provide a moderating effect, but do not fully offset the volatility of the underlying actuarial gains and losses. Settlement gains and losses are present in the earlier years but disappear in the later years. Overall, defined benefit pension plans and other postretirement benefits contribute significantly to the fluctuations in other comprehensive income.
Comprehensive Income
Comprehensive income mirrors the volatility of net earnings and OCI. It begins with a positive value in 2021, then experiences substantial losses in 2022 and 2023, a large loss in 2024, and finally returns to a positive value in 2025. The attributable portion to Boeing Shareholders follows a similar pattern. The noncontrolling interest component is relatively small but consistently present.

The significant fluctuations in both net earnings and other comprehensive income components suggest the company’s financial performance is sensitive to various factors, including currency exchange rates, investment performance, and changes in actuarial assumptions related to pension and postretirement benefits. The substantial turnaround in 2025, driven by both net earnings and OCI, indicates a potential shift in the company’s financial trajectory.