Boeing Reports Second-Quarter Results

Reconciliation of Non-GAAP Measures
(Unaudited)

The tables provided below reconcile the non-GAAP financial measures core operating earnings, core operating margin, and core earnings per share with the most directly comparable GAAP financial measures, earnings from operations, operating margin, and diluted 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)

First Half 2019


First Half 2018


$ millions


Per Share


$ millions


Per Share

Revenues

38,668




47,640



(Loss)/earnings from operations (GAAP)

(1,030)




5,585



Operating margin (GAAP)

(2.7)%




11.7%











FAS/CAS service cost adjustment:








Pension FAS/CAS service cost adjustment

(549)




(520)



Postretirement FAS/CAS service cost adjustment

(180)




(162)



FAS/CAS service cost adjustment

(729)




(682)



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

($1,759)




$4,903



Core operating margin (non-GAAP)

(4.5)%




10.3%











Diluted earnings per share (GAAP)



($1.40)




$7.88

Pension FAS/CAS service cost adjustment

($549)


(0.97)


($520)


(0.88)

Postretirement FAS/CAS service cost adjustment

(180)


(0.32)


(162)


(0.27)

Non-operating pension expense

(187)


(0.32)


(48)


(0.08)

Non-operating postretirement expense

53


0.09


48


0.08

Provision for deferred income taxes on adjustments 1

181


0.32


143


0.24

Subtotal of adjustments

($682)


($1.20)


($539)


($0.91)

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



($2.60)




$6.97









Weighted average diluted shares (in millions)



566.6




592.9


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


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