Boeing Reports Second-Quarter Results

Reconciliation of Non-GAAP Measures
(Unaudited)

The tables provided below reconcile the non-GAAP financial measures core operating (loss)/earnings, core operating margin, and core (loss)/earnings per share with the most directly comparable GAAP financial measures, (loss)/earnings from operations, operating margin, and diluted (loss)/earnings per share. See page 6 of this release for additional information on the use of these non-GAAP financial measures.


(Dollars in millions, except per share data)

Second Quarter 2019


Second Quarter 2018


$ millions


Per Share


$ millions


Per Share

Revenues

15,751




24,258



(Loss)/earnings from operations (GAAP)

(3,380)




2,710



Operating margin (GAAP)

(21.5)%




11.2%











FAS/CAS service cost adjustment:








Pension FAS/CAS service cost adjustment

(275)




(237)



Postretirement FAS/CAS service cost adjustment

(90)




(80)



FAS/CAS service cost adjustment

(365)




(317)



Core operating (loss)/earnings (non-GAAP)

($3,745)




$2,393



Core operating margin (non-GAAP)

(23.8)%




9.9%











Diluted (loss)/earnings per share (GAAP)



($5.21)




$3.73

Pension FAS/CAS service cost adjustment

($275)


(0.49)


($237)


(0.40)

Postretirement FAS/CAS service cost adjustment

(90)


(0.16)


(80)


(0.14)

Non-operating pension expense

(94)


(0.17)


(6)


(0.01)

Non-operating postretirement expense

26


0.05


24


0.04

Provision for deferred income taxes on adjustments 1

91


0.16


63


0.11

Subtotal of adjustments

($342)


($0.61)


($236)


($0.40)

Core (loss)/earnings per share (non-GAAP)



($5.82)




$3.33









Weighted average diluted shares (in millions)



565.3




588.7


1 The income tax impact is calculated using the U.S. corporate statutory tax rate .

The Boeing Company and Subsidiaries

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