Boeing Reports Second-Quarter Results

 

The Boeing Company and Subsidiaries

Consolidated Statements of Cash Flows

(Unaudited)



Six months ended
June 30

(Dollars in millions)

2019


2018

Cash flows – operating activities:




Net (loss)/earnings

($793)


$4,673

Adjustments to reconcile net earnings to net cash provided by operating activities:




Non-cash items – 




Share-based plans expense

104


98

Depreciation and amortization

1,067


1,008

Investment/asset impairment charges, net

70


44

Customer financing valuation adjustments

249


(2)

Gain on dispositions, net

(300)


(7)

Other charges and credits, net

145


112

Changes in assets and liabilities – 




Accounts receivable

588


62

Unbilled receivables

(222)


(1,675)

Advances and progress billings

1,842


2,931

Inventories

(5,233)


408

Other current assets

(887)


2

Accounts payable

2,002


682

Accrued liabilities

4,959


(922)

Income taxes receivable, payable and deferred

(921)


269

Other long-term liabilities

(509)


(65)

Pension and other postretirement plans

(390)


(57)

Customer financing, net

347


(97)

Other

80


352

Net cash provided by operating activities

2,198


7,816

Cash flows – investing activities:




Property, plant and equipment additions

(922)


(770)

Property, plant and equipment reductions

331


41

Acquisitions, net of cash acquired

(492)



Contributions to investments

(496)


(1,537)

Proceeds from investments

758


1,028

Purchase of distribution rights

(20)


(56)

Other

(12)


(1)

Net cash used by investing activities

(853)


(1,295)

Cash flows – financing activities:




New borrowings

11,670


3,648

Debt repayments

(6,422)


(2,708)

Contributions from noncontrolling interests

7


20

Stock options exercised

47


61

Employee taxes on certain share-based payment arrangements

(238)


(236)

Common shares repurchased

(2,651)


(5,965)

Dividends paid

(2,317)


(1,997)

Net cash provided/(used) by financing activities

96


(7,177)

Effect of exchange rate changes on cash and cash equivalents, including restricted

(2)


(36)

Net increase/(decrease) in cash & cash equivalents, including restricted

1,439


(692)

Cash & cash equivalents, including restricted, at beginning of year

7,813


8,887

Cash & cash equivalents, including restricted, at end of period

9,252


8,195

Less restricted cash & cash equivalents, included in Investments

85


74

Cash and cash equivalents at end of period

$9,167


$8,121

The Boeing Company and Subsidiaries

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